ANNUAL COMPREHENSIVE
FINANCIAL REPORT
Fiscal Year Ending June 30,2023
www.cityoffullerton.com/financialreports
CITY OF FULLERTON, CALIFORNIA
303 W. Commonwealth Ave.
Fullerton, CA 92832
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13 7+,63$*(,17(17,21$//</()7%/$1.
14 CITY OF FULLERTON
Statement of Net Position
Governmental Business-Type
Activities Activities Total
Assets:
Cash and investments 172,408,367$ 69,318,868$ 241,727,235$ Restricted assets - cash held with fiscal agent 5,642,288 285,662 5,927,950 Receivables:
Accounts 22,834,436 10,037,652 32,872,088 Taxes 536,713 - 536,713 Accrued interest 826,584 347,821 1,174,405 Notes and loans 25,215,715 - 25,215,715 Leases 6,652,529 11,791,584 18,444,113
Internal balances (4,802,394) 4 ,802,394 - Inventories 243,819 85,074 328,893 Prepaid costs 306,182 - 306,182 Capital assets - not being depreciated 290,854,528 30,097,431 320,951,959 Capital assets - net of accumulated depreciation/amortization 224,346,801 119,296,603 343,643,404 Total Assets 745,065,568 246,063,089 991,128,657 Deferred Outflows of Resources:
Deferred charge on refunding 397,727 90,204 487,931 Pension deferrals 70,791,148 5 ,696,027 76,487,175 Other post-employment benefits deferrals 5,835,433 954,464 6,789,897 Total Deferred Outflows of Resources 77,024,308 6,740,695 83,765,003 Liabilities:
Accounts payable 8,231,819 10,683,486 18,915,305 Accrued liabilities 2,156,850 119,231 2,276,081 Accrued interest payable 94,329 83,213 177,542 Deposits payable 8,015,630 2,738,380 10,754,010 Intergovernmental payable 3,305,739 - 3,305,739 Unearned revenue 35,338,577 - 35,338,577 Noncurrent liabilities:
Due within one year: bonds, loans, claims,
compensated absences, leases, subscriptions 9,191,860 613,301 9,805,161 Due in more than one year:
Bonds, loans, claims, compensated absences, leases, subscriptions 43,071,717 5 ,774,772 48,846,489 Net pension liability 272,301,544 18,960,782 291,262,326 Net other post-employment benefits liability 22,710,588 3,714,622 26,425,210 Total Liabilities 404,418,653 42,687,787 447,106,440 Deferred Inflows of Resources:
Pension deferrals 4,162,481 588,472 4,750,953 Leases 6,387,522 11,169,640 17,557,162
Other post-employment benefits deferrals 12,044,594 1,970,055 14,014,649 Total Deferred Inflows of Resources 22,594,597 13,728,167 36,322,764 Net Position:
Net investment in capital assets 499,394,120 143,201,745 642,595,865 Restricted:
Community development projects 989,713 - 989,713 Public safety 634,057 - 634,057 Parks and recreation 2,959,054 - 2,959,054 Public works 21,704,030 - 21,704,030 Capital projects 1,206,638 - 1,206,638 Debt service 205,907 285,662 491,569 Housing 13,174,743 - 13,174,743 Refuse collection 2,864,799 - 2,864,799 Opioid settlement 64,081 - 64,081 Library 607,275 - 607,275 Pension stabilization 555,438 - 555,438 Donations 687,910 - 687,910 Unrestricted (149,971,139) 52,900,423 (97,070,716) Total Net Position 395,076,626$ 196,387,830$ 591,464,456$ June 30, 2023
Primary Government
The notes to financial statements are an integral part of this statement. 15 CITY OF FULLERTON
Statement of Activities
For the Year Ended June 30, 2023
Operating Capital
Charges for Contributions Contributions
Expenses Services and Grants and Grants
Functions/Programs
Primary Government:
Governmental Activities:
General government 15,531,712$ 768,687$ 12,668,387$ -$ Public safety 82,072,098 10,173,689 1,265,265 - Community development 7,413,424 6,524,669 2,414,035 - Human and leisure 11,447,357 1,189,780 18,909 - Public works 27,869,958 12,022,882 7,392,978 6,924,569 Refuse collection 13,504,437 14,331,680 - - Interest on long-term debt 245,485 - - - Total Governmental Activities 158,084,471 45,011,387 23,759,574 6,924,569 Business-Type Activities:
Airport 2,125,194 1,922,401 - 261,415 Brea Dam Facilities Recreational 3,730,108 4,222,986 - - Water Utility 29,344,751 48,227,451 - 77,390 Parking Facilities 75,896 - - - Sewer Enterprise 5,558,803 5,371,295 - - Compressed Natural Gas Facility 105,968 285 - - Total Business-Type Activities 40,940,720 59,744,418 - 338,805 Total Primary Government 199,025,191$ 104,755,805$ 23,759,574$ 7,263,374$ General Revenues:
Taxes:
Property taxes, levied for general purpose
Sales taxes
Franchise taxes
Other taxes
Motor vehicle in lieu - unrestricted
Use of money and property
Other
Gain on sale of capital asset
Transfers
Total General Revenues and Transfers
Change in Net Position
Net Position - Beginning
Net Position - Ending
Program Revenues
The notes to financial statements are an integral part of this statement. 16 Governmental Business-Type
Activities Activities Total
(2,094,638)$ - $ (2,094,638)$ (70,633,144) - (70,633,144) 1,525,280 - 1,525,280 (10,238,668) - (10,238,668) (1,529,529) - (1,529,529) 827,243 - 827,243
(245,485) - (245,485) (82,388,941) - (82,388,941) - 58,622 58,622
- 492,878 492,878
- 18,960,090 18,960,090
- (75,896) (75,896) - (187,508) (187,508) - (105,683) (105,683) - 19,142,503 19,142,503
(82,388,941) 19,142,503 (63,246,438)
53,871,006 226,853 54,097,859
31,875,914 - 31,875,914 4,996,232 - 4,996,232 5,217,069 - 5,217,069 147,996 - 147,996
6,414,364 991,494 7,405,858
1,796,848 100,739 1,897,587
- 7,500 7,500
186,593 (186,593) -
104,506,022 1,139,993 105,646,015
22,117,081 20,282,496 42,399,577
372,959,545 176,105,334 549,064,879
395,076,626$ 196,387,830 $ 591,464,456 $
Net (Expenses) Revenues and
Changes in Net Position
Primary Government
The notes to financial statements are an integral part of this statement. 17 CITY OF FULLERTON
Balance Sheet
Governmental Funds
June 30, 2023
General
Assets:
Cash and investments 34,863,152$ 9,506,278 $ 22,809,835$ Restricted assets - cash held with fiscal agents 717,800 263,110 - Receivables:
Accounts 11,991,915 1,170,478 -
Taxes 536,713 - -
Accrued interest 225,822 - 116,369 Leases 6,652,529 - -
Notes and loans - 13,506,343 - Due from other funds 3,222,880 - - Inventories 6,528 - - Prepaid costs 306,182 - - Total Assets 58,523,521$ 24,446,209$ 22,926,204$ Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficit):
Liabilities:
Accounts payable 2,490,000$ 104,518$ 31,785$ Accrued liabilities 2,015,025 3,841 1,884 Deposits payable 7,999,648 3,432 - Due to other funds - - - Due to other governments 3,042,629 263,110 - Unearned revenues 456,181 10,579,035 23,021,920 Total Liabilities 16,003,483 10,953,936 23,055,589 Deferred Inflows of Resources:
Unavailable revenues 2,645,317 14,597,286 - Leases 6,387,522 - -
Total Deferred Inflows of Resources 9,032,839 14,597,286 - Fund Balances (Deficit):
Nonspendable 312,710 - - Restricted 1,518,712 - - Committed 1,535,971 - - Assigned 19,808,804 - -
Unassigned 10,311,002 (1,105,013) (129,385) Total Fund Balances (Deficit) 33,487,199 (1,105,013) (129,385) Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficit) 58,523,521 $ 24,446,209 $ 22,926,204 $ American
Rescue Plan
Act
Grants
Administration
Special Revenue Funds
The notes to financial statements are an integral part of this statement. 18 CITY OF FULLERTON
Balance Sheet
Governmental Funds
June 30, 2023
Assets:
Cash and investments
Restricted assets - cash held with fiscal agents
Receivables:
Accounts
Taxes
Accrued interest
Leases
Notes and loans
Due from other funds
Inventories
Prepaid costs
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficit):
Liabilities:
Accounts payable
Accrued liabilities
Deposits payable
Due to other funds
Due to other governments
Unearned revenues
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Leases
Total Deferred Inflows of Resources
Fund Balances (Deficit):
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total Fund Balances (Deficit)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficit)
Capital Projects
Fund
Other Total
Governmental Governmental
Funds Funds
-$ 29,099,276$ 96,278,541$
- - 980,910 4,012,336 5,617,687 22,792,416
- - 536,713 - 134,806 476,997
- - 6,652,529
- 11,709,372 25,215,715
- - 3,222,880 - - 6,528 - - 306,182 4,012,336$ 46,561,141 $ 156,469,411 $
2,478,652$ 2,072,107 $ 7,177,062$
14,870 56,706 2,092,326
10,450 2,100 8,015,630
2,291,558 612,652 2,904,210
- - 3,305,739 1,267,212 3,076 35,327,424
6,062,742 2,746,641 58,822,391
3,799,612 292,219 21,334,434
- - 6,387,522 3,799,612 292,219 27,721,956
- - 312,710 - 44,134,933 45,653,645
- - 1,535,971 - - 19,808,804 (5,850,018) (612,652) 2,613,934
(5,850,018) 43,522,281 69,925,064
4,012,336$ 46,561,141 $ 156,469,411 $
Capital
Projects
The notes to financial statements are an integral part of this statement. 19 7+,63$*(,17(17,21$//</()7%/$1.
20 CITY OF FULLERTON
Reconciliation of the Balance Sheet of Governmental Funds To the Statement of Net Position
June 30, 2023
Amounts reported for governmental activities in the Statement of Net Position are different because:
Total Fund Balances - Governmental Funds 69,925,064$
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds. The details of this difference are as follows:
Capital assets - not being depreciated/amortized 289,582,960$ Capital assets - being depreciated/amortized, net 209,575,588 Net adjustment to increase Fund Balance - Total Governmental Funds to arrive at Net 499,158,548 Position - Governmental Activities
Other long-term assets are not available to pay for current period expenditures and, therefore, are reported as unavailable revenue in the funds. 21,334,434 Internal service funds are used by management to charge the costs of liability insurance, vehicle replacement, workers' compensation, group insurance, equipment maintenance, information technology, building maintenance, and facility capital repair to individual funds. The assets and liabilities of the internal service funds are included in governmental activities in the Statement of Net Position. The details of this difference are as follows:
Net Position of the Internal Service Funds 41,303,058
Less: Internal payable representing charges in excess of cost to business-type activities - prior years (1,383,770)
Add: Internal receivable representing charges in less than the cost to business-type activities - current year (3,737,294)
Net adjustment to increase Fund Balance - Total Governmental Funds to arrive at Net Position - Governmental Activities 36,181,994
Deferred outflows and inflows of resources related to pensions and other post-employment benefits are only reported in the Statement of Net Position as the changes in these amounts only affect the government-wide statements for governmental activities. The details of this difference are as follows:
Deferred outflows of resources for pensions 68,507,838
Deferred inflows of resources for pensions (3,926,585)
Deferred outflows of resources for other post-employment benefits 5,500,747 Deferred inflows of resources for other post-employment benefits (11,353,787) Net adjustment to increase Fund Balance - Total Governmental Funds to arrive at Net Position - Governmental Activities 58,728,213
Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the funds. The details of this difference are as follows:
Net pension liability (264,700,918)
Compensated absences (2,592,020)
Lease liabilities (258,756)
SBITA liabilities (148,766)
Long-term debt (1,143,124)
Net other post-employment benefits liability (21,408,043) Net adjustment to decrease Fund Balance - Total Governmental Funds to arrive at Net Position - Governmental Activities (290,251,627)
Net Position of Governmental Activities 395,076,626$
The notes to financial statements are an integral part of this statement. 21 CITY OF FULLERTON
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Governmental Funds
For the Year Ended June 30, 2023
General
Revenues:
Taxes 90,963,989$ - $ -$
Franchise taxes 4,787,544 - - Licenses and permits 3,207,838 - - Intergovernmental 909,964 5,971,417 8,636,769 Charges for services 13,113,830 - - Investment earnings 4,686,501 - 501,204 Fines and forfeitures 1,846,733 - - Miscellaneous 1,051,314 3,391 - Total Revenues 120,567,713 5,974,808 9,137,973 Expenditures:
Current:
General government 6,419,537 2,227,585 1,073,243 Public safety 82,546,276 1,522,497 -
Community development 6,156,871 1,177,160 - Human and leisure 9,138,302 100,335 - Public works 8,999,374 2,500 - Refuse collection - - - Capital outlay 690,575 382,293 876,685 Debt service:
Principal retirement 295,094 - - Interest and fiscal charges 41,641 - - Total Expenditures 114,287,670 5,412,370 1,949,928 Excess (Deficiency) of Revenues
Over (Under) Expenditures 6,280,043 562,438 7,188,045 Other Financing Sources (Uses):
Transfers in 3,165,245 - - Transfers out (1,411,782) (268,818) (7,069,604) Lease financing - - 388,732 Subscription financing 179,125 - - Total Other Financing Sources (Uses) 1,932,588 (268,818) (6,680,872) Net Change in Fund Balances 8,212,631 293,620 507,173 Fund Balances (Deficit) - Beginning 25,274,568 (1,398,633) (636,558) Fund Balances (Deficit) - Ending 33,487,199$ (1,105,013)$ (129,385)$ American
Rescue Plan
Act
Grants
Administration
Special Revenue Funds
The notes to financial statements are an integral part of this statement. 22 CITY OF FULLERTON
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Governmental Funds
For the Year Ended June 30, 2023
Revenues:
Taxes
Franchise taxes
Licenses and permits
Intergovernmental
Charges for services
Investment earnings
Fines and forfeitures
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Community development
Human and leisure
Public works
Refuse collection
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Lease financing
Subscription financing
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficit) - Beginning
Fund Balances (Deficit) - Ending
Capital
Projects Fund
Other Total
Governmental Governmental
Funds Funds
-$ 208,688$ 91,172,677$ - - 4,787,544 - - 3,207,838 6,753,049 12,252,999 34,524,198
128,560 21,845,549 35,087,939
- 377,884 5,565,589 - 227,031 2,073,764 171,520 303,531 1,529,756
7,053,129 35,215,682 177,949,305
- 83,824 9,804,189 - 431,004 84,499,777 - 230,977 7,565,008 - 124,022 9,362,659 2,340,531 11,127,412 22,469,817
- 13,965,874 13,965,874
19,908,590 178,334 22,036,477
- - 295,094 - - 41,641 22,249,121 26,141,447 170,040,536
(15,195,992) 9,074,235 7,908,769
10,469,703 730,024 14,364,972
(730,024) (5,711,880) (15,192,108)
- - 388,732 - - 179,125 9,739,679 (4,981,856) (259,279)
(5,456,313) 4,092,379 7,649,490
(393,705) 39,429,902 62,275,574
(5,850,018)$ 43,522,281 $ 69,925,064 $
Capital
Projects
The notes to financial statements are an integral part of this statement. 23 7+,63$*(,17(17,21$//</()7%/$1.
24 CITY OF FULLERTON
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds
To the Statement of Activities
For the Year Ended June 30, 2023
Amounts reported for governmental activities in the Statement of Activities are different because:
Net Change in Fund Balances - Total Governmental Funds 7,649,490$ Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of these assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlays exceeded depreciation expense in the current period. The details of this difference are as follows:
Capital outlay 22,568,729$
Depreciation and amortization expense (10,576,974)
Loss on disposal of capital assets (2,830,043)
Net adjustment to increase Net Changes in Fund Balances - Total Governmental Funds to arrive at Changes in Net Position of Governmental Activities 9,161,712 Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenue in the funds. 1,422,065
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 the governmental funds. The details of this difference are as follows:
Compensated absences 14,800
Pensions (3,281,549)
Principal payments on long-term debts 426,859
SBITAs (179,125)
Other post-employment benefits 939,191
Leases (388,732)
Claims and judgments 42,708
Net adjustment to decrease Net Changes in Fund Balances - Total Governmental Funds to arrive at Changes in Net Position of Governmental Activities (2,425,848) The internal service funds are used by management to charge the costs of liability insurance, vehicle replacement, worker's compensation, group insurance, equipment maintenance, information technology, building maintenance, and facility capital repair to individual funds. The net revenue of certain activities of internal service funds is reported with governmental activities.
The details of this difference are as follows:
Change in net position of internal service funds 7,693,432 Less: income from charges to business-type activities (1,383,770) Net adjustment to increase Net Changes in Fund Balances - Total Governmental Funds to arrive at Changes in Net Position of Governmental Activities 6,309,662 Change in Net Position of Governmental Activities 22,117,081$ The notes to financial statements are an integral part of this statement. 25 CITY OF FULLERTON
Statement of Net Position
Proprietary Funds
June 30, 2023
Assets:
Current Assets:
Cash and investments 3,689,511$ 53,998,546 $ 8,588,959 $ Restricted assets - cash held with fiscal agent - - - Accounts receivable 125,106 8,884,714 1,020,546 Accrued interest receivable 37,790 250,344 42,104 Inventory - - - Lease receivable 23,642 10,502 - Total Current Assets 3,876,049 63,144,106 9,651,609 Noncurrent Assets:
Lease receivable 9,962,275 908,460 - Capital assets - net of accumulated depreciation/amortization 18,160,504 76,110,267 52,073,088 Total Noncurrent Assets 28,122,779 77,018,727 52,073,088 Total Assets 31,998,828 140,162,833 61,724,697 Deferred Outflows of Resources:
Deferred charge on refunding - 90,204 - Pension deferrals 540,654 3,636,453 1,333,884 Other post-employment benefits deferrals 91,997 592,117 230,050 Total Deferred Outflows of Resources 632,651 4,318,774 1,563,934 Liabilities:
Current Liabilities:
Accounts payable 23,155 7,299,790 491,649 Accrued liabilities 9,522 80,937 23,331 Accrued interest payable - 64,417 - Unearned revenues - - - Deposits payable 70,961 2,665,599 830 Due to other funds - - - Compensated absences - current 4,571 52,911 17,781 Claims and judgments - current - - - Bonds, loans, leases, and subscriptions - current - 511,322 - Total Current Liabilities 108,209 10,674,976 533,591 Noncurrent Liabilities:
Compensated absences 18,285 211,642 71,125 Claims and judgments - - - Bonds, loans, leases, and subscriptions payable - 4,1 34,537 - Net pension liability 1,799,714 12,104,927 4,440,197 Net other post-employment benefits liability 358,036 2,304,427 895,319 Total Noncurrent Liabilities 2,176,035 18,755,533 5,406,641 Total Liabilities 2,284,244 29,430,509 5,940,232 Deferred Inflows of Resources:
Leases 9,470,746 859,083 -
Pension deferrals 55,856 375,692 137,807 Other post-employment benefits deferrals 189,885 1,222,156 474,834 Total Deferred Inflows of Resources 9,716,487 2,456,931 612,641 Net Position:
Net investment in capital assets 18,160,504 71,265,273 52,073,088 Restricted for debt service - - - Unrestricted 2,470,244 41,328,894 4,662,670 Total Net Position 20,630,748$ 112,594,167 $ 56,735,758 $ Adjustment to report the cumulative internal balance for the net effect of the activity between the internal service funds and the enterprise funds over time
Net Position of Business-Type Activities
Airport
Business-Type Activities - Enterprise Funds
Water Utility
Sewer
Enterprise
The notes to financial statements are an integral part of this statement. 26 CITY OF FULLERTON
Statement of Net Position
Proprietary Funds
June 30, 2023
Assets:
Current Assets:
Cash and investments
Restricted assets - cash held with fiscal agent
Accounts receivable
Accrued interest receivable
Inventory
Lease receivable
Total Current Assets
Noncurrent Assets:
Lease receivable
Capital assets - net of accumulated depreciation/amortization Total Noncurrent Assets
Total Assets
Deferred Outflows of Resources:
Deferred charge on refunding
Pension deferrals
Other post-employment benefits deferrals
Total Deferred Outflows of Resources
Liabilities:
Current Liabilities:
Accounts payable
Accrued liabilities
Accrued interest payable
Unearned revenues
Deposits payable
Due to other funds
Compensated absences - current
Claims and judgments - current
Bonds, loans, leases, and subscriptions - current
Total Current Liabilities
Noncurrent Liabilities:
Compensated absences
Claims and judgments
Bonds, loans, leases, and subscriptions payable
Net pension liability
Net other post-employment benefits liability
Total Noncurrent Liabilities
Total Liabilities
Deferred Inflows of Resources:
Leases
Pension deferrals
Other post-employment benefits deferrals
Total Deferred Inflows of Resources
Net Position:
Net investment in capital assets
Restricted for debt service
Unrestricted
Total Net Position
Adjustment to report the cumulative internal balance for the net effect of the activity between the internal service funds and the enterprise funds over time
Net Position of Business-Type Activities
Governmental
Activities
Other
Enterprise Internal
Funds Totals Service Funds
3,041,852$ 69,318,868 $ 76,129,826 $
285,662 285,662 4,661,378
7,286 10, 037,652 42,020
17,583 347,821 349,587
85,074 85,074 237,291
2,080 36,224 -
3,439,537 80,111,301 81,420,102
884,625 11, 755,360 -
3,050,175 149,394,034 16,042,781
3,934,800 161,149,394 16,042,781
7,374,337 241,260,695 97,462,883
- 90,204 397,727
185,036 5,696,027 2,283,310
40,300 954,464 334,686
225,336 6,740,695 3,015,723
2,868,892 10,683,486 1,054,757
5,441 119,231 64,524
18,796 83,213 94,329
- - 11,153 990 2,738,380 -
318,670 318,670 -
3,064 78,327 -
- - 6,8 12,000 23,652 534,974 1,746,537
3,239,505 14,556,281 9,783,300
15,540 316,592 -
- - 24,731,000 1,323,643 5,458,180 14,831,374
615,944 18, 960,782 7,600,626
156,840 3,714,622 1,302,545
2,111,967 28,450,176 48,465,545
5,351,472 43,006,457 58,248,845
839,811 11, 169,640 -
19,117 588,472 235,896
83,180 1,970,055 690,807
942,108 13, 728,167 926,703
1,702,880 143,201,745 12,732,697
285,662 285,662 -
(682,449) 47,779,359 28,570,361
1,306,093$ 191,266,766 41,303,058 $
5,121,064
196,387,830$
Business-Type Activities -
Enterprise Funds
The notes to financial statements are an integral part of this statement. 27 CITY OF FULLERTON
Statement of Revenues, Expenditures, and
Changes in Net Position
Proprietary Funds
For the Year Ended June 30, 2023
Operating Revenues:
Sales and service charges 1,922,401$ 48,227,451 $ 5,371,295$ Interfund service charges - - - Miscellaneous 1,723 29,041 - Total Operating Revenues 1,924,124 48,256,492 5,371,295 Operating Expenses:
Maintenance, operations, and administration 1,769,062 11,466,036 4,899,861 Cost of water - 17,130,195 - Claims expense - - - Depreciation/amortization expense 428,398 1,533,205 847,965 Total Operating Expenses 2,197,460 30,129,436 5,747,826 Operating Income (Loss) (273,336) 18,127,056 (376,531) Nonoperating Revenues (Expenses):
Taxes 226,853 - -
Investment earnings 277,834 563,613 101,303 Interest expense - (206,152) - Gain (loss) on disposal of capital assets - - - Total Nonoperating Revenues (Expenses) 504,687 357,461 101,303 Income (Loss) Before Transfers
and Contributions 231,351 18,484,517 (275,228) Capital contributions 261,415 117,365 - Transfers in - 708,631 - Transfers out - (608,179) - Changes in Net Position 492,766 18,702,334 (275,228) Net Position - Beginning 20,137,982 93,891,833 57,010,986 Net Position - Ending 20,630,748$ 112,594,167$ 56,735,758$ Adjustment for the net effect of the current year activity between the internal service funds and the enterprise funds
Changes in Net Position of Business-Type Activities
Airport Water Utility
Business-Type Activities - Enterprise Funds
Sewer
Enterprise
The notes to financial statements are an integral part of this statement. 28 CITY OF FULLERTON
Statement of Revenues, Expenditures, and
Changes in Net Position
Proprietary Funds
For the Year Ended June 30, 2023
Operating Revenues:
Sales and service charges
Interfund service charges
Miscellaneous
Total Operating Revenues
Operating Expenses:
Maintenance, operations, and administration
Cost of water
Claims expense
Depreciation/amortization expense
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses):
Taxes
Investment earnings
Interest expense
Gain (loss) on disposal of capital assets
Total Nonoperating Revenues (Expenses)
Income (Loss) Before Transfers
and Contributions
Capital contributions
Transfers in
Transfers out
Changes in Net Position
Net Position - Beginning
Net Position - Ending
Adjustment for the net effect of the current year activity between the internal service funds and the enterprise funds
Changes in Net Position of Business-Type Activities
Governmental
Activities
Other
Enterprise Internal
Funds Totals Service Funds
4,223,271$ 59,744,418 $ -$
- - 39,441,677 30,000 60,764 1,187,000
4,253,271 59,805,182 40,628,677
3,916,412 22,051,371 29,406,718
- 17,130,195 -
- - 3,625,975 86,637 2,896,205 1,356,026
4,003,049 42,077,771 34,388,719
250,222 17,727,411 6,239,958
- 226,853 -
48,744 991,494 848,775
(40,567) (246,719) (203,844)
7,500 7,500 (205,186)
15,677 979,128 439,745
265,899 18,706,539 6,679,703
- 378,780 -
- 708,631 1,731,333 (287,045) (895,224) (717,604)
(21,146) 18,898,726 7,693,432
1,327,239 33,609,626
1,306,093$ 41,303,058 $
1,383,770
20,282,496$
Business-Type Activities -
Enterprise Funds
The notes to financial statements are an integral part of this statement. 29 CITY OF FULLERTON
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2023
Cash Flows from Operating Activities:
Receipts from customers 2,518,271$ 49,796,104 $ 5,585,748 $ Receipts from interfund charges - - - Cash recovered from insurance claims - - - Other receipts - 29,041 - Payments to suppliers and service providers (1,006,288) (28,959,676) (2,609,432) Payments to employees for salaries and benefits (691,506) (2,311,107) (1,299,286) Payments of insurance claims - - - Net Cash Provided by (Used for)
Operating Activities 820,477 18,554,362 1,677,030 Cash Flows from Noncapital Financing Activities:
Transfers from other funds - 708,631 - Taxes received 226,853 - - Cash received on short-term interfund borrowings - - - Principal paid on noncapital debt - - - Interest paid on noncapital debt - - - Transfers out - (608,179) - Net Cash Provided by (Used for)
Noncapital Financing Activities 226,853 100,452 - Cash Flows from Capital and Related Financing Activities:
Capital grants and contributions received 261,415 - - Acquisition and construction of capital assets (870,844) (9,264,162) (1,253,763) Principal paid on capital debt - (270,000) - Interest paid on capital debt - (239,926) - Advance refunding of old debt - - - Gain (loss) on disposal of capital assets - - - Net Cash Provided by (Used for)
Capital and Related Financing Activities (609,429) (9,774,088) (1,253,763) Cash Flows from Investing Activities:
Interest on investments 264,653 405,907 68,235 Net Cash Provided by (Used for)
Investing Activities 264,653 405,907 68,235 Net Increase (Decrease) in Cash and Cash Equivalents 702,554 9,286,633 491,502 Cash and Cash Equivalents, July 1 2,986,957 44,711,913 8,097,457 Cash and Cash Equivalents, June 30 3,689,511$ 53,998,546 $ 8,588,959 $ Reconciliation of Cash and Cash Equivalents to
Amounts Reported on the Statement of Net Position
Cash and investments 3,689,511$ 53,998,546 $ 8,588,959 $ Restricted assets - cash held with fiscal agent - - - Cash and Cash Equivalents, June 30 3,689,511$ 53,998,546 $ 8,588,959 $ Reconciliation of Operating Income (Loss) to Net
Cash Provided by (Used for) Operating Activities:
Operating income (loss) (273,336)$ 18,127,056 $ (376,531) $ Adjustments to Reconcile Operating Income (Loss) to
Net Cash Provided by (Used for) Operating Activities:
Depreciation/amortization 428,398 1,533,205 847,965 Nonoperating miscellaneous revenues/(expenses) - - - (Increase) decrease in accounts receivable 1,171,898 1,069,675 214,263 (Increase) decrease in inventory - - - (Increase) decrease in prepaid items - 18,119 1,500 Increase (decrease) in accounts payable (24,934) (381,564) 400,526 Increase (decrease) in accrued liabilities (583,822) (81,357) (20,725) Increase (decrease) in unearned revenue - - - Increase (decrease) in deposits payable (1,653) 498,978 190 Increase (decrease) in claims and judgments - - - Increase (decrease) in compensated absences (7,876) (22,265) 1,879 Increase (decrease) in pension items 61,639 (1,767,389) 603,650 Increase (decrease) in other post-employment benefits items 50,163 (440,096) 4,313 Total Adjustments 1,093,813 427,306 2,053,561 Net Cash Provided by (Used for)
Operating Activities 820,477$ 18,554,362$ 1,677,030 $ Schedule of Non-Cash Capital and Related
Financing Activities and Investing Activities:
Capital and Related Financing Activities:
Capital contributions -$ 117,365$ - $ Amortization of bond premiums/(discounts) - 38,615 -
Gain/(loss) on disposal of capital assets (426,961) - - Amortization of deferred charge on refunding - (8,391) - Total Capital and Related Financing Activities (426,961)$ 147,589 $ - $ Investing Activities:
Unrealized gain (loss) on investments (19,438)$ (19,438) $ 12,044 $ Airport Water Utility
Business-Type Activities - Enterprise Funds
Sewer
Enterprise
The notes to financial statements are an integral part of this statement. 30 CITY OF FULLERTON
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2023
Cash Flows from Operating Activities:
Receipts from customers
Receipts from interfund charges
Cash recovered from insurance claims
Other receipts
Payments to suppliers and service providers
Payments to employees for salaries and benefits
Payments of insurance claims
Net Cash Provided by (Used for)
Operating Activities
Cash Flows from Noncapital Financing Activities:
Transfers from other funds
Taxes received
Cash received on short-term interfund borrowings
Principal paid on noncapital debt
Interest paid on noncapital debt
Transfers out
Net Cash Provided by (Used for)
Noncapital Financing Activities
Cash Flows from Capital and Related Financing Activities:
Capital grants and contributions received
Acquisition and construction of capital assets
Principal paid on capital debt
Interest paid on capital debt
Advance refunding of old debt
Gain (loss) on disposal of capital assets
Net Cash Provided by (Used for)
Capital and Related Financing Activities
Cash Flows from Investing Activities:
Interest on investments
Net Cash Provided by (Used for)
Investing Activities
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents, July 1
Cash and Cash Equivalents, June 30
Reconciliation of Cash and Cash Equivalents to
Amounts Reported on the Statement of Net Position
Cash and investments
Restricted assets - cash held with fiscal agent
Cash and Cash Equivalents, June 30
Reconciliation of Operating Income (Loss) to Net
Cash Provided by (Used for) Operating Activities:
Operating income (loss)
Adjustments to Reconcile Operating Income (Loss) to
Net Cash Provided by (Used for) Operating Activities:
Depreciation/amortization
Nonoperating miscellaneous revenues/(expenses)
(Increase) decrease in accounts receivable
(Increase) decrease in inventory
(Increase) decrease in prepaid items
Increase (decrease) in accounts payable
Increase (decrease) in accrued liabilities
Increase (decrease) in unearned revenue
Increase (decrease) in deposits payable
Increase (decrease) in claims and judgments
Increase (decrease) in compensated absences
Increase (decrease) in pension items
Increase (decrease) in other post-employment benefits items Total Adjustments
Net Cash Provided by (Used for)
Operating Activities
Schedule of Non-Cash Capital and Related
Financing Activities and Investing Activities:
Capital and Related Financing Activities:
Capital contributions
Amortization of bond premiums/(discounts)
Gain/(loss) on disposal of capital assets
Amortization of deferred charge on refunding
Total Capital and Related Financing Activities
Investing Activities:
Unrealized gain (loss) on investments
Governmental
Activities
Other
Enterprise Internal
Funds Totals Service Funds
4,274,385$ 62,174,508 $ - $
- - 39,426,540 - - -
- 29,041 2,627,964 (2,772,647) (35,348,043) (28,271,020)
(378,332) (4,680,231) (1,467,091)
- - (3,958,001) 1,123,406 22,175,275 8,358,392
- 708,631 923,154
- 226,853 -
91,877 91,877 -
- - (432,167) - - (112,797) (287,045) (895,224) (717,605)
(195,168) 132,137 (339,415)
- 261,415 -
(7,147) (11,395,916) (6,334,987)
(140,000) (410,000) (578,406)
(39,471) (279,397) (27,194)
- - -
7,500 7,500 (191,089)
(179,118) (11,816,398) (7,131,676)
34,020 772,815 719,085
34,020 772,815 719,085
783,140 11,263,829 1,606,386
2,544,374 58,340,701 79,184,818
3,327,514$ 69,604,530 $ 80,791,204 $
3,041,852$ 69,318,868 $ 76,129,826 $
285,662 285,662 4,661,378
3,327,514$ 69,604,530 $ 80,791,204 $
250,222$ 17,727,411$ 6,239,958 $
86,637 2,896,205 1,356,026
- - -
20,344 2,476,180 (1,681)
(28,851) (28,851) 71,965
- 19,619 2,140,150 709,574 703,602 (97,067)
(4,063) (689,967) (35,447)
- - (13,456) 770 498,285 -
- - (636,000) 5,455 (22,807) -
(17,237) (1,119,337) (269,645)
100,555 (285,065) (396,411)
873,184 4,447,864 2,118,434
1,123,406$ 22,175,275 $ 8,358,392 $
-$ 117,365$ - $
(2,483) 36,132 31,160
- (426,961) (205,186)
- (8,391) -
(2,483)$ (281,855)$ (174,026) $
(11,382)$ (38,214) $ 120,130 $
Business-Type Activities -
Enterprise Funds
The notes to financial statements are an integral part of this statement. 31 CITY OF FULLERTON
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2023
Custodial
Funds
Assets:
Cash and cash equivalents -$ 6,351,798$ 754,951$ Restricted assets - cash and cash equivalents - 6,228,325 - Investments:
Mutual funds - 717,768 - Equity securities 70,253 - - Receivables:
Leases - 224,735 -
Taxes - - 25,058 Accrued interest receivable - 30,157 - Notes and loans receivable - 37,216,238 - Prepaid costs - 79,840 - Land held for resale - 2,900,768 - Total Assets 70,253 53,749,629 780,009 Deferred Outflows of Resources:
Deferred charges on refunding - 84,184 - Total Deferred Outflows of Resources - 84,184 - Liabilities:
Accounts payable - 6,932 41,943 Accrued liabilities - 876 - Accrued interest - 411,937 - Due to bondholders - - 653,230 Noncurrent:
Bonds payable - due within one year - 7,660,000 - Bonds payable - due in more than one year - 30,740,374 - Total Liabilities - 38,820,119 695,173 Deferred Inflows of Resources:
Leases - 214,522 -
Total Deferred Inflows or Resources - 214,522 - Net Position:
Restricted for post-employment benefits other than pensions 70,253 - - Restricted for individuals, organizations, and other governments - 14,799,172 84,836 Total Net Position 70,253$ 14,799,172$ 84,836$ Pension
(and Other
Employee
Benefit) Trust
Fund
Private-
Purpose Trust
Fund
Retiree Health
Insurance
Program
Successor
Agency of the
Former RDA
The notes to financial statements are an integral part of this statement. 32 CITY OF FULLERTON
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended June 30, 2023
Additions:
Investment Earnings:
Net increase (decrease) in fair value of investments -$ 10,891$ -$ Interest, dividends, and other 6,858 763,195 - Total Investment Earnings 6,858 774,086 - Property taxes - 9,270,595 - Miscellaneous - - 2,643,830 Total Additions 6,858 10,044,681 2,643,830 Deductions:
Administrative expenses 37 217,570 - Contractual services - 55,251 - Miscellaneous - 291,140 2,616,677 Interest expense - 378,085 - Total Deductions 37 942,046 2,616,677 Changes in Net Position 6,821 9,102,635 27,153 Net Position - Beginning, as Restated 63,432 5,696,537 57,683 Net Position - Ending 70,253$ 14,799,172$ 84,836$ Custodial
Funds
Pension
(and Other
Employee
Benefit) Trust
Fund
Private-
Purpose Trust
Fund
Successor
Agency of the
Former RDA
Retiree Health
Insurance
Program
The notes to financial statements are an integral part of this statement. 33 7+,63$*(,17(17,21$//</()7%/$1.
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71 CITY OF FULLERTON
Notes to the Financial Statements
For the Year Ended June 30, 2023
NOTE
15: LONG-TERM LIABILITIES (CONTINUED)
As of June 30, 2023, total future minimum loan obligations and the net present value of these minimum lease payments, are summarized as follows:
Year Ending
June 30, Total
2024 1,110,916 $
2025 1,110,843
2026 889,772
2027 889,697
2028 583,484
2029-2033 2,916,214
2034-2038 2,914,064
2039-2044 1,164,978
Total minimum loan payments 11,579,968
Less: amounts representing interest (1,497,773)
Present value of minimum loan payments 10,082,195$
F. C
hanges in Long-term Liabilities
Change
s in the City’s long-term liabilities for the year ended June 30, 2023, are as follows:
Balance Balance Amount
Beginning End Due Within
of Year Additions Deletions of Year One Year
Governmental Activities:
Bonds Payable:
Judgment obligation bonds 5,235,000$ -$ 435,000$ 4,800,000$ 445,000$ Discount (2,833) - (2,833) - - Total Bonds Payable 5,232,167 - 432,167 4,800,000 445,000 Loans payable 11,051,651 - 969,456 10,082,195 915,218 Subscription liability - 3,203,833 379,072 2,824,761 318,185 Lease liability - 582,880 161,279 421,601 183,053 Compensated absences 2,606,820 - 14,800 2,592,020 518,404 Claims 32,179,000 2,989,975 3,625,975 31,543,000 6,812,000 Net pension liability 170,429,021 101,872,523 - 272,301,544 - Net OPEB liability 28,849,654 - 6,139,066 22,710,588 - Total Governmental Activities 250,348,313$ 108,649,211$ 11,721,815$ 347,275,709$ 9,191,860$ Business-Type Activities:
Bonds payable:
Revenue bonds 5,740,000$ -$ 410,000$ 5,330,000$ 430,000$ Premium 450,507 - 38,614 411,893 -
Discount (21,106) - (2,483) (18,623) -
Total bonds payable 6,169,401 - 446,131 5,723,270 430,000 Loans payable - 406,611 162,645 243,966 81,322 Compensated absences 417,726 - 22,807 394,919 99,713 Subscription liability - 28,948 3,030 25,918 2,266 Net pension liability 10,312,935 8,647,847 - 18,960,782 - Net OPEB liability 4,786,639 - 1,072,017 3,714,622 - Total Business-Type Activities 21,686,701$ 9,083,406$ 1,706,630$ 29,063,477$ 613,301$ 72 &,7<2))8//(5721
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80 CITY OF FULLERTON
Budgetary Comparison Schedule
General Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Taxes 92,304,674$ 92,304,674 $ 95,751,533 $ 3,446,859$ Licenses and permits 2,344,725 2,344,725 3,207,838 863,113 Intergovernmental 922,725 922,725 909,964 (12,761) Charges for services 10,569,742 10,569,742 13,113,830 2,544,088 Investment earnings 4,029,745 4,029,745 4,686,501 656,756 Fines and forfeitures 1,528,300 1,528,300 1,846,733 318,433 Miscellaneous 2,417,401 2,417,401 1,051,314 (1,366,087) Total Revenues 114,117,312 114,117,312 120,567,713 6,450,401 Expenditures:
Current:
General government
Council 431,730 516,980 513,655 3,325 City Manager 2,796,298 2,981,189 2,711,954 269,235 City Clerk 861,763 845,372 585,464 259,908 Administrative Services Finance 3,090,963 3,159,993 2,872,645 287,348 Human Resources 1,050,146 1,050,146 627,998 422,148 Non-departmental (800,230) (800,230) (892,179) 91,949 Public safety
Fire 29,001,884 29,081,884 28,549,705 532,179 Police 53,250,025 55,029,170 53,996,571 1,032,599 Community development 5,737,587 6,157,307 6,156,871 436 Human and leisure
Parks and Recreation 5,422,413 5,513,663 5,512,270 1,393 Library 4,038,741 4,038,741 3,626,032 412,709 Public works 9,031,014 9,031,014 8,999,374 31,640 Capital outlay 100,000 266,000 690,575 (424,575) Debt service:
Principal retirement 266,524 266,524 295,094 (28,570) Interest and fiscal charges 39,610 39,610 41,641 (2,031) Total Expenditures: 114,318,468 117,177,363 114,287,670 2,889,693 Excess (Deficiency) of Revenues
Over (Under) Expenditures (201,156) (3,060,051) 6,280,043 9,340,094 Other Financing Sources
Transfers in 3,137,045 3,754,379 3,165,245 (589,134) Transfers out (1,500,000) (3,694,827) (1,411,782) 2,283,045 Subscription financing - - 179,125 179,125 Total Other Financing Sources (Uses): 1,637,045 59,552 1,932,588 1,873,036 Net Change in Fund Balances 1,435,889$ (3,000,499)$ 8,212,631 11,213,130$ Fund Balances - Beginning 25,274,568
Fund Balances - Ending 33,487,199$
The notes to required supplementary information are an integral part of this schedule. 81 CITY OF FULLERTON
Budgetary Comparison Schedule
Grants Administration
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 3,462,788$ 19,265,733$ 5,971,417$ (13,294,316)$ Miscellaneous - (40,000) 3,391 43,391 Total Revenues 3,462,788 19,225,733 5,974,808 (13,250,925) Expenditures:
Current:
General government - 2,500,000 2,227,585 272,415 Public safety 852,654 2,782,085 1,522,497 1,259,588 Community development 1,693,020 2,228,521 1,177,160 1,051,361 Parks and recreation 80,753 180,600 100,335 80,265 Public works - 355,510 2,500 353,010 Refuse collection - 35,019 - 35,019 Capital outlay - 10,378,538 382,293 9,996,245 Total Expenditures 2,626,427 18,460,273 5,412,370 13,047,903 Excess (Deficiency) of Revenues
Over (Under) Expenditures 836,361 765,460 562,438 (203,022) Other Financing Sources (Uses):
Transfers out - (744,368) (268,818) 475,550 Total Other Financing Sources (Uses) - (744,368) (268,818) 475,550 Net Change in Fund Balances 836,361$ 21,092$ 293,620 272,528$ Fund (Deficit) - Beginning (1,398,633)
Fund (Deficit) - Ending (1,105,013)$
The notes to required supplementary information are an integral part of this schedule. 82 CITY OF FULLERTON
Budgetary Comparison Schedule
American Rescue Plan Act
For the Year Ended June 30, 2023
Variance with
F inal Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental -$ - $ 8,636,769$ 8,636,769$ Investment income - - 501,204 501,204 Total Revenues - - 9,137,973 9,137,973 Expenditures:
Current:
General government 178,892 2,540,700 1,073,243 1,467,457 Capital outlay - - 876,685 (876,685) Total Expenditures: 178,892 2,540,700 1,949,928 590,772 Excess (Deficiency) of Revenues
Over (Under) Expenditures (178,892) (2,540,700) 7,188,045 8,547,201 Other Financing Sources
Transfers out - (13,910,596) (7,069,604) 6,840,992 Lease financing - - 388,732 388,732 Total Other Financing Sources (Uses): - (13,910,596) (6,680,872) 7,229,724 Net Change in Fund Balances (178,892)$ (16,451,296)$ 507,173 15,776,925$ Fund Balances - Beginning (636,558)
Fund Balances - Ending (129,385)$
The notes to required supplementary information are an integral part of this schedule. 83 CITY OF FULLERTON
Miscellaneous Plan
Schedule of Changes in the Net Pension Liability and Related Ratios As of June 30, For The Last Ten Fiscal Years (1)
2015 2016 2017 2018
Measurement Date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 Total Pension Liability:
Service Cost 3,583,900$ 3,434,664$ 3,436,150$ 4,028,019$ Interest on total pension liability 18,104,876 18,544,020 19,021,926 19,457,971 Changes in assumptions - (4,406,198) - 15,777,516 Differences between expected and actual experience - (3,523,723) (2,713,807) (1,691,562) Benefit payments, including refunds of employee contributions (12,422,994) (12,931,194) (13,105,760) (13,600,494) Net change in total pension liability 9,265,782 1,117,569 6,638,509 23,971,450 Total Pension Liability - Beginning 245,817,888 255,083,670 256,201,239 262,839,748 Total Pension Liability - Ending (a) 255,083,670 256,201,239 262,839,748 286,811,198 Plan Fiduciary Net Position:
Contributions - employer 1,748,110 2,087,882 2,831,939 3,455,877 Contributions - employee 3,340,171 2,852,024 2,961,557 3,207,458 Net investment income 31,546,084 4,617,716 994,336 21,919,922 Benefit payments, including refunds of employee contributions (12,422,994) (12,931,194) (13,105,760) (13,600,494) Net Plan to Plan Resource Movement - (715) - - Administrative expense - (231,434) (125,288) (294,007) Other miscellaneous income/(expense) - - - - Net change in plan fiduciary net position 24,211,371 (3,605,721) (6,443,216) 14,688,756 Plan Fiduciary Net Position - Beginning 184,970,916 209,182,287 205,576,566 199,133,350 Plan Fiduciary Net Position - Ending (b) 209,182,287 205,576,566 199,133,350 213,822,106 Plan Net Pension Liability/(Assets) - Ending (a) - (b) 45,901,383$ 50,624,673 $ 63,706,398 $ 72,989,092$ total pension liability 82.01% 80.24% 75.76% 74.55%
Covered payroll 23,913,389$ 24,121,530 $ 24,160,809 $ 25,506,709$ 191.95% 209.87% 263.68% 286.16%
Notes to Schedule of Changes in Net Pension Liability and Related Ratios:
Plan Net Pension Liability as a Percentage of Covered
Plan fiduciary net position as a percentage of the
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, therefore only nine years are shown.
Effective with the June 30, 2021 valuation date (2022 measurement date), the accounting discount rate was reduced from 7.15% to 6.90%. In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. Projected returns for all asset classes are estimated, combined with risk estimates, and are used to project compound (geometric) returns over the long term. The discount rate used todiscount liabilities was informed by the long-term projected portfolio return. In addition, demographic assumptions and the inflation rate assumption were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions. The accounting discount rate was 7.15% for measurement dates 2017 through 2021,
7.65% for measurement dates 2015 through 2016, and 7.50% for measurement date 2014 The figures above do not include any liability impact that may have resulted from plan changes which occurred after the June 30, 2020 valuation date. This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).
Changes of Assumptions:
Benefit Changes:
84 2019 2020 2021 2022 2023
6/30/2018 6/30/2019 6/30/2020 6/30/2021 6/30/2022
4,018,130$ 3,774,798$ 3,775,731$ 3,548,169$ 3,627,562$ 19,980,940 20,552,464 21,144,370 21,513,474 21,493,649 (1,127,539) - - - 8,273,705 (817,761) (669,374) 394,873 (2,050,727) (4,346,059) (14,842,526) (15,586,850) (17,301,500) (17,885,130) (18,944,042) 7,211,244 8,071,038 8,013,474 5,125,786 10,104,815 286,811,198 294,022,442 302,093,480 310,106,954 315,232,740 294,022,442 302,093,480 310,106,954 315,232,740 325,337,555 3,880,635 4,809,655 6,036,525 7,017,542 7,585,752 2,857,654 2,852,167 2,274,075 1,811,572 1,639,319 17,972,220 14,470,021 11,301,839 51,372,978 (20,344,557) (14,842,526) (15,586,850) (17,301,500) (17,885,130) (18,944,042) (518) (650) - - - (333,194) (158,940) (322,988) (230,852) (170,177) (632,741) 518 - - - 8,901,530 6,385,921 1,987,951 42,086,110 (30,233,705) 213,822,106 222,723,636 229,109,557 231,097,508 273,183,618 222,723,636 229,109,557 231,097,508 273,183,618 242,949,913 71,298,806$ 72,983,923$ 79,009,446$ 42,049,122$ 82,387,642$
75.75% 75.84% 74.52% 86.66% 74.68%
25,445,697$ 23,492,645$ 23,791,627$ 22,456,766$ 21,004,994$ 280.20% 310.67% 332.09% 187.24% 392.23%
85 CITY OF FULLERTON
Safety Plan
Schedule of Changes In The Net Pension Liability and Related Ratios As of June 30, For The Last Ten Fiscal Years (1)
2015 2016 2017 2018
Measurement Date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 Total Pension Liability:
Service Cost 6,428,794$ 6,159,575$ 6,139,343$ 7,137,610$ Interest on total pension liability 29,880,228 30,783,877 31,849,067 32,652,041 Changes in assumptions - (7,450,669) - 27,036,186 Differences between expected and actual experience - (3,274,488) (590,872) (1,625,395) Benefit payments, including refunds of employee contributions (20,933,019) (21,964,313) (22,872,497) (24,235,721) Net change in total pension liability 15,376,003 4,253,982 14,525,041 40,964,721 Total Pension Liability - Beginning 405,655,143 421,031,146 425,285,128 439,810,169 Total Pension Liability - Ending (a) 421,031,146 425,285,128 439,810,169 480,774,890 Plan Fiduciary Net Position:
Contributions - employer 6,363,818 7,227,836 8,358,879 10,074,802 Contributions - employee 3,664,440 3,711,794 3,747,337 3,864,941 Net investment income 46,137,412 6,738,820 1,497,136 32,030,653 Benefit payments, including refunds of employee contributions (20,933,109) (21,964,313) (22,872,497) (24,235,721) Net Plan to Plan Resource Movement - - - - Administrative expense - (341,647) (182,711) (428,677) Other miscellaneous income/(expense) - 90 - - Net change in plan fiduciary net position 35,232,561 (4,627,420) (9,451,856) 21,305,998 Plan Fiduciary Net Position - Beginning 269,193,188 304,425,749 299,798,329 290,346,473 Plan Fiduciary Net Position - Ending (b) 304,425,749 299,798,329 290,346,473 311,652,471 Plan Net Pension Liability - Ending (a) - (b) 116,605,397$ 125,486,799 $ 149,463,696 $ 169,122,419$ total pension liability 72.30% 70.49% 66.02% 64.82%
Covered payroll 23,106,870$ 23,105,917 $ 22,949,957 $ 23,799,967$ 504.64% 543.09% 651.26% 710.60%
Notes to Schedule of Changes in Net Pension Liability and Related Ratios:
Benefit Changes:
Plan fiduciary net position as a percentage of the
Plan Net Pension Liability as a Percentage of Covered Payroll (1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, therefore only nine years are shown.
Effective with the June 30, 2021 valuation date (2022 measurement date), the accounting discount rate was reduced from 7.15% to 6.90%. In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. Projected returns for all asset classes are estimated, combined with risk estimates, and are used to project compound (geometric) returns over the long term. The discount rate used to discount liabilities was informed by the long-term projected portfolio return. In addition, demographic assumptions and the inflation rate assumption were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions. The accounting discount rate was 7.15% for measurement dates 2017 through 2021,
7.65% for measurement dates 2015 through 2016, and 7.50% for measurement date 2014 gy y p y p g ,
valuation date. This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).
Changes of Assumptions:
86 2019 2020 2021 2022 2023
6/30/2018 6/30/2019 6/30/2020 6/30/2021 6/30/2022
7,276,694$ 6,713,029$ 5,929,528$ 6,193,673$ 6,727,723$ 33,741,761 34,715,015 35,667,102 36,643,567 37,241,475 (1,878,673) - - - 19,054,908 2,515,633 406,378 1,835,234 2,697,088 (3,037,772) (26,274,949) (28,787,130) (30,324,105) (31,213,796) (32,560,850) 15,380,466 13,047,292 13,107,759 14,320,532 27,425,484 480,774,890 496,155,356 509,202,648 522,310,407 536,630,939 496,155,356 509,202,648 522,310,407 536,630,939 564,056,423 10,730,240 12,127,485 14,081,827 15,515,050 16,849,633 3,605,789 3,161,725 3,622,586 3,261,576 3,293,443 26,311,505 21,203,073 16,454,572 75,203,654 (30,042,048) (26,274,949) (28,787,130) (30,324,105) (31,213,796) (32,560,850) (757) 650 - - - (485,640) (231,653) (468,167) (335,102) (247,861) (922,239) 757 - - - 12,963,949 7,474,907 3,366,713 62,431,382 (42,707,683) 311,652,471 324,616,420 332,091,327 335,458,040 397,889,422 324,616,420 332,091,327 335,458,040 397,889,422 355,181,739 171,538,936$ 177,111,321$ 186,852,367$ 138,741,517$ 208,874,684$
65.43% 65.22% 64.23% 74.15% 62.97%
24,764,981$ 22,649,309$ 20,747,123$ 21,947,814$ 21,632,551$ 692.67% 781.97% 900.62% 632.14% 965.56%
87 CITY OF FULLERTON
Retiree Health Insurance Program
Schedule of Changes in the Net OPEB Liability and Related Ratios As Of June 30, For The Last Ten Fiscal Years (1)
2018 2019 2020
Measurement Date 6/30/2017 6/30/2018 6/30/2019
Total OPEB Liability:
Service Cost 1,913,643$ 1,184,811 $ 1,287,092$ Interest on total OPEB liability 1,288,253 1,324,045 1,103,389 Changes in assumptions - - 1,889,194 Differences between expected and actual experience - (7,029,124) - Benefit payments (1,584,473) (1,338,227) (1,390,063) Net change in total OPEB liability 1,617,423 (5,858,495) 2,889,612 Total OPEB Liability - Beginning 34,353,410 35,970,833 30,112,338 Total OPEB Liability - Ending (a) 35,970,833 30,112,338 33,001,950 Plan Fiduciary Net Position:
Contributions - employer - 1,388,227 1,390,063 Net investment income - 3,686 3,203 Benefit payments - (1,338,227) (1,390,063) Administrative expense - - (135) Net change in plan fiduciary net position - 53,686 3,068 Plan Fiduciary Net Position - Beginning - - 53,686 Plan Fiduciary Net Position - Ending (b) - 53,686 56,754 Plan Net OPEB Liability - Ending (a) - (b) 35,970,833$ 30,058,652 $ 32,945,196$ total OPEB liability 0.00% 0.18% 0.17%
Covered-employee payroll 47,763,989$ 53,294,857 $ 55,541,742$
75.31% 56.40% 59.32%
Notes to Schedule of Changes in Net OPEB Liability and Related Ratios:
(1) Historical information is required only for measurement for which GASB 75is applicable. Fiscal Year 2018 was the first year of implementation, therefore only six years are shown.
Plan fiduciary net position as a percentage of the
Covered-Employee Payroll
Plan Net OPEB Liability as a Percentage of
88 2021 2022 2023
6/30/2020 6/30/2021 6/30/2022
1,349,773$ 1,673,868$ 1,908,946$
1,049,606 784,439 674,684
3,881,547 1,853,345 (6,552,244)
(6,727,717) 148,817 (1,560,876)
(1,635,980) (1,668,735) (1,692,781)
(2,082,771) 2,791,734 (7,222,271)
33,001,950 30,919,179 33,710,913
30,919,179 33,710,913 26,488,642
1,635,980 1,668,735 1,692,781
(94) 1 8,630 (10,755)
(1,635,980) (1,668,735) (1,692,781)
(300) (370) (433)
(394) 1 8,260 (11,188)
56,754 5 6,360 74,620
56,360 7 4,620 63,432
30,862,819$ 33,636,293$ 26,425,210$
0.18% 0.22% 0.24%
51,823,148$ 55,369,789$ 49,278,492$
59.55% 60.75% 53.62%
89 7+,63$*(,17(17,21$//</()7%/$1.
90 CITY OF FULLERTON
Schedules of Plan Contributions
As of June 30, For The Last Ten Fiscal Years 1
Fiscal Year Actuarially Actual Contribution Contribution Ending Determined Employer Deficiency Covered as a % of June 30, Contribution Contribution (Excess) Payroll Covered Payroll 2014 1,748,110$ 1,748,110$ -$ 23,913,389$ 7.31% 2015 2,087,882 2,087,882 - 24,121,530 8.66% 2016 2,831,939 2,831,939 - 24,160,809 11.72% 2017 3,455,877 3,455,877 - 25,506,709 13.55% 2018 3,880,635 3,880,635 - 25,445,697 15.25% 2019 4,809,655 4,809,655 - 23,492,645 20.47% 2020 6,036,168 6,036,168 - 23,791,627 25.37% 2021 7,018,243 7,018,243 - 22,456,766 31.25% 2022 7,585,485 7,585,485 - 21,004,994 36.11% 2023 6,711,592 8,218,595 (1,507,003) 20,826,179 * 39.46% Fiscal Year Actuarially Actual Contribution Contribution Ending Determined Employer Deficiency Covered as a % of June 30, Contribution Contribution (Excess) Payroll Covered Payroll 2014 6,363,818$ 6,363,818$ -$ 23,106,870$ 27.54% 2015 7,227,836 7,227,836 - 23,105,917 31.28% 2016 8,358,879 8,358,879 - 22,949,957 36.42% 2017 10,074,802 10,074,802 - 23,799,967 42.33% 2018 10,730,240 10,730,240 - 24,764,981 43.33% 2019 12,127,485 12,127,485 - 22,649,309 53.54% 2020
14,081,945 14,081,945 - 20,747,123 67.87% 2021 15,515,569 15,515,569 - 21,947,814 70.69% 2022 16,849,576 16,849,576 - 21,632,551 77.89% 2023 15,619,397 18,845,445 (3,226,048) 23,225,598 * 81.14% Contribution
Fiscal Year Actuarially Actual Contribution as a % of
Ending Determined Employer Deficiency Co vered-Employee Covered-Emplo yee June 30, Contribution Contribution (Excess) Payroll Payroll 2018 1,388,227$ 1,388,227$ -$ 53,294,857$ 2.60% 2019 2,181,997 1,390,063 791,934 55,541,742 2.50% 2020 2,286,732 1,635,980 650,752 51,823,148 3.16% 2021 2,017,876 1,668,735 349,141 55,369,789 3.01% 2022 2,073,368 1,692,781 380,587 49,278,492 3.44% 2023 1,771,061 1,810,481 (39,420) 53,938,658 * 3.36% * Estimated amount
CalPERS Miscellaneous Employees Agent, Multiple-Employer Pension Plan:
CalPERS Safety Employees Agent, Multiple-Employer Pension Plan:
Retiree Health Insurance Program Single Employer OPEB Plan:
1 Historical information is required only for measurement for which GASB 68and GASB 75 is applicable. Fiscal Year 2018 was the first year of implementation for GASB 75, therefore only six years are shown.
The notes to required supplementary information are an integral part of this schedule. 91 &,7<2))8//(5721
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93 CITY OF FULLERTON
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Cash and investments 6,259,280$ 6,095,692$ -$ 2,949,253$ Receivables:
Accounts 752,442 81,709 38,892 - Notes and loans - - - - Accrued interest 31,601 30,238 - 9,801 Total Assets 7,043,323$ 6,207,639$ 38,892$ 2,959,054$ Liabilities, Deferred Inflows of
Liabilities:
Accounts payable 16,861$ 5,150 $ - $ -$ Accrued liabilities 19,774 3,393 - - Unearned revenues - - - - Deposits payable - - - - Due to other funds - - - - Total Liabilities 36,635 8,543 - - Deferred Inflows of Resources:
Unavailable revenues 63,860 - - - Total Deferred Inflows of Resources 63,860 - - - Fund Balances:
Restricted 6,942,828 6,199,096 38,892 2,959,054 Unassigned - - - - Total Fund Balances 6,942,828 6,199,096 38,892 2,959,054 Total Liabilities, Deferred Inflows of
Resources, and Fund Balances 7,043,323$ 6,207,639$ 38,892$ 2,959,054$ Resources, and Fund Balances:
State Gas Tax
Drainage
Capital Outlay Traffic Safety Park Dwelling
Special Revenue Funds
94 CITY OF FULLERTON
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Total Assets
Liabilities, Deferred Inflows of
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances:
Restricted
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
Resources, and Fund Balances:
(CONTINUED)
574,543$ 1,446,301 $ 984,207 $ 676,681$ 53,779 2,779,039 - 1,318,096 - - - - 2,541 6,973 5,506 3,088 630,863$ 4,232,313 $ 989,713 $ 1,997,865 $ 4,636$ 1,166,667$ -$ 393,211$ 2,984 3,319 - 26,616 3,076 - - - - - - - - - - - 10,696 1,169,986 - 419,827 25,002 197,528 - 5,829 25,002 197,528 - 5,829 595,165 2,864,799 989,713 1,572,209 - - - - 595,165 2,864,799 989,713 1,572,209 630,863$ 4,232,313 $ 989,713 $ 1,997,865 $ Refuse
Collection
Air Quality
Improvement SanitationAsset Seizure
Special Revenue Funds
95 CITY OF FULLERTON
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Total Assets
Liabilities, Deferred Inflows of
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances:
Restricted
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
Resources, and Fund Balances:
6,493,115$ 1,865,633$ 1,154,505$ -$ 539,860 4,482 49,388 - - 11,709,372 - - 32,021 5,825 5,379 - 7,064,996$ 13,585,312$ 1,209,272$ -$ 75,099$ 407,849 $ 2,634 $ -$ - 620 - - - - - - - 2,100 - - - - - 612,652 75,099 410,569 2,634 612,652 - - - - - - - - 6,989,897 13,174,743 1,206,638 - - - - (612,652) 6,989,897 13,174,743 1,206,638 (612,652) 7,064,996$ 13,585,312$ 1,209,272$ -$ SB2 / PLHA
FTV Cable -
PEG Access
FundMeasure M2 Housing
Special Revenue Funds
96 CITY OF FULLERTON
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Total Assets
Liabilities, Deferred Inflows of
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances:
Restricted
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
Resources, and Fund Balances:
Special
Revenue Funds
Debt Service
Fund
Total
Nonmajor
Governmental
Funds
394,159$ 205,907 $ 29,099,276$
- - 5,617,687 - - 11,709,372 1,833 - 134,806 395,992$ 205,907 $ 46,561,141$
-$ -$ 2,072,107$ - - 56,706 - - 3,076 - - 2,100 - - 612,652 - - 2,746,641 - - 292,219 - - 292,219 395,992 205,907 44,134,933
- - (612,652) 395,992 205,907 43,522,281
395,992$ 205,907 $ 46,561,141$
Debt Service
Reserve
West Coyote
Hills
Endowment
97 CITY OF FULLERTON
Combining Statement of Revenues, Expenditures,
And Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Revenues:
Taxes -$ - $ - $ -$ Intergovernmental 6,840,187 - - - Charges for services 21,594 631,857 - 298,801 Investment income 17,464 38,605 - (5,722) Fines and forfeitures - - 227,031 - Miscellaneous - - - - Total Revenues 6,879,245 670,462 227,031 293,079 Expenditures:
Current:
General government 710 - - 104 Public safety - - - - Community development - - - - Human and leisure - - - - Public works 3,295,052 205,638 - - Refuse collection - - - - Capital outlay 9,897 - - - Total Expenditures 3,305,659 205,638 - 104 Excess (Deficiency) of Revenues
Over (Under) Expenditures 3,573,586 464,824 227,031 292,975 Other Financing Sources (Uses):
Transfers in 1,190 - - 728,834 Transfers out (2,983,273) (1,099,557) (198,200) (291,939) Total Other Financing Sources (Uses) (2,982,083) (1,099,557) (198,200) 436,895 Net Change in Fund Balances 591,503 (634,733) 28,831 729,870 Fund Balances - Beginning 6,351,325 6,833,829 10,061 2,229,184 Fund Balances - Ending 6,942,828$ 6,199,096$ 38,892$ 2,959,054$ Special Revenue Funds
State Gas Tax
Drainage
Capital Outlay Traffic Safety Park Dwelling
98 CITY OF FULLERTON
Combining Statement of Revenues, Expenditures,
And Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Revenues:
Taxes
Intergovernmental
Charges for services
Investment income
Fines and forfeitures
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Community development
Human and leisure
Public works
Refuse collection
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - Beginning
Fund Balances - Ending
(CONTINUED)
-$ - $ -$ -$ 905,396 4 ,349 137,942 - - 14,331,680 - 6,561,617 1,298 8 ,452 12,739 31,196 - - - - - 356 - - 906,694 14,344,837 150,681 6,592,813 - - - 52,382 431,004 - - - - - 5,026 - - - - - - - - 7,360,123 - 13,965,874 - - 168,437 - - - 599,441 13,965,874 5,026 7,412,505 307,253 378,963 145,655 (819,692) - - - - - (166,034) (200,000) - - (166,034) (200,000) - 307,253 212,929 (54,345) (819,692) 287,912 2,651,870 1,044,058 2,391,901 595,165$ 2,864,799 $ 989,713 $ 1,572,209 $ Special Revenue Funds
Air Quality
Improvement SanitationAsset Seizure
Refuse
Collection
99 CITY OF FULLERTON
Combining Statement of Revenues, Expenditures,
And Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Revenues:
Taxes
Intergovernmental
Charges for services
Investment income
Fines and forfeitures
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Community development
Human and leisure
Public works
Refuse collection
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - Beginning
Fund Balances - Ending
-$ - $ 208,688$ -$ 3,295,057 - - 1,070,068 - - - - (6,429) 267,412 10,762 5,192 - - - - - 4 ,750 - - 3,288,628 272,162 219,450 1,075,260 - - 30,628 - - - - - - 11,349 - 214,602 124,022 - - - 266,580 - - - - - - - - - - - 390,602 11,349 30,628 214,602 2,898,026 260,813 188,822 860,658 - - - - (770,628) - (2,249) - (770,628) - (2,249) - 2,127,398 260,813 186,573 860,658 4,862,499 12,913,930 1,020,065 (1,473,310) 6,989,897$ 13,174,743$ 1,206,638$ (612,652)$ Special Revenue Funds
SB2 / PLHAMeasure M2 Housing
FTV Cable -
PEG Access
Fund
100
CITY OF FULLERTON
Combining Statement of Revenues, Expenditures,
And Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Revenues:
Taxes
Intergovernmental
Charges for services
Investment income
Fines and forfeitures
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Community development
Human and leisure
Public works
Refuse collection
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - Beginning
Fund Balances - Ending
Special
Revenue Funds
Debt Service
Fund
Total
Nonmajor
Governmental
Funds
-$ -$ 208,688$ - - 12,252,999 - - 21,845,549 (3,085) - 377,884 - - 227,031 298,425 - 303,531
295,340 - 35,215,682 - - 83,824 - - 431,004 - - 230,977 - - 124,022 19 - 11,127,412 - - 13,965,874 - - 178,334 19 - 26,141,447 295,321 - 9,074,235 - - 730,024 - - (5,711,880) - - (4,981,856) 295,321 - 4,092,379 100,671 205,907 39,429,902
395,992$ 205,907 $ 43,522,281$
Debt Service
Reserve
West Coyote
Hills
Endowment
101
CITY OF FULLERTON
Budgetary Comparison Schedule
State Gas Tax
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 7,238,765$ 7,238,765$ 6,840,187$ (398,578)$ Charges for services 15,000 15,000 21,594 6,594 Investment income 142,836 142,836 17,464 (125,372) Total Revenues 7,396,601 7,396,601 6,879,245 (517,356) Expenditures:
Current:
General government 439 439 710 (271) Public works 3,493,605 3,493,605 3,295,052 198,553 Capital outlay 7,000 7,000 9,897 (2,897) Total Expenditures 3,501,044 3,501,044 3,305,659 195,385 Excess (Deficiency) of Revenues
Over (Under) Expenditures 3,895,557 3,895,557 3,573,586 (321,971) Other Financing Sources (Uses):
Transfers out (3,729,834) (10,005,140) (2,983,273) 7,021,867 Total Other Financing Sources (Uses) (3,729,834) (10,005,140) (2,982,083) 7,023,057 Net Change in Fund Balances 165,723$ (6,109,583)$ 591,503 6,701,086$ Fund Balances - Beginning 6,351,325
Fund Balances - Ending 6,942,828$
102
CITY OF FULLERTON
Budgetary Comparison Schedule
Drainage Capital Outlay
For the Year Ended June 30, 2023
Variance with
F inal Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 800,000$ 800,000 $ 631,857 $ (168,143)$ Investment income 93,795 93,795 38,605 (55,190) Total Revenues 893,795 893,795 670,462 (223,333) Expenditures:
Current:
Public works 265,366 265,366 205,638 59,728 Total Expenditures 265,366 265,366 205,638 59,728 Excess (Deficiency) of Revenues
Over (Under) Expenditures 628,429 628,429 464,824 (163,605) Other Financing Sources (Uses):
Transfers out (1,500,000) (5,501,382) (1,099,557) 4,401,825 Total Other Financing Sources (Uses) (1,500,000) (5,501,382) (1,099,557) 4,401,825 Net Change in Fund Balances (871,571)$ (4,872,953)$ (634,733) 4,238,220$ Fund Balances - Beginning 6,833,829
Fund Balances - Ending 6,199,096$
103
CITY OF FULLERTON
Budgetary Comparison Schedule
Traffic Safety
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Fines and forfeitures 200,000$ 200,000 $ 227,031 $ 27,031$ Total Revenues 200,000 200,000 227,031 27,031 Excess (Deficiency) of Revenues
Over (Under) Expenditures 200,000 200,000 227,031 27,031 Other Financing Sources (Uses):
Transfers out (200,000) (200,000) (198,200) 1,800 Total Other Financing Sources (Uses) (200,000) (200,000) (198,200) 1,800 Net Change in Fund Balances -$ -$ 28,831 28,831$ Fund Balances - Beginning 10,061
Fund Balances - Ending 38,892$
104
CITY OF FULLERTON
Budgetary Comparison Schedule
Park Dwelling
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 8,786,620$ 8,786,620$ 298,801$ (8,487,819)$ Investment income 94,928 94,928 (5,722) (100,650) Total Revenues 8,881,548 8,881,548 293,079 (8,588,469) Expenditures:
Current:
General government - - 104 (104) Total Expenditures: - - 104 (104) Excess (Deficiency) of Revenues
Over (Under) Expenditures 8,881,548 8,881,548 292,975 (8,588,573) Other Financing Sources (Uses):
Transfers in - 532,750 728,834 196,084 Transfers out (1,160,000) (4,506,074) (291,939) 4,214,135 Total Other Financing Sources (Uses) (1,160,000) (3,973,324) 436,895 4,410,219 Net Change in Fund Balances 7,721,548$ 4,908,224$ 729,870 (4,178,354)$ Fund Balances - Beginning 2,229,184
Fund Balances - Ending 2,959,054$
105
CITY OF FULLERTON
Budgetary Comparison Schedule
Asset Seizure
For the Year Ended June 30, 2023
Variance with
F inal Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 365,000$ 905,731 $ 905,396 $ (335)$ Investment income 10,679 10,679 1,298 (9,381) Total Revenues 375,679 916,410 906,694 (9,716) Expenditures:
Current:
Public safety 97,399 195,879 431,004 (235,125) Capital outlay 404,337 404,337 168,437 235,900 Total Expenditures 501,736 600,216 599,441 775 Net Change in Fund Balances (126,057)$ 316,194$ 307,253 (8,941)$ Fund Balances - Beginning 287,912
Fund Balances - Ending 595,165$
106
CITY OF FULLERTON
Budgetary Comparison Schedule
Refuse Collection
For the Year Ended June 30, 2023
Variance with
F inal Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental -$ - $ 4,349$ 4,349$ Charges for services 13,827,633 14,331,680 14,331,680 - Investment income 30,000 30,000 8,452 (21,548) Total Revenues 13,857,633 14,361,680 14,344,837 (16,843) Expenditures:
Current:
Refuse collection 13,579,058 13,965,874 13,965,874 - Total Expenditures 13,579,058 13,965,874 13,965,874 - Excess (Deficiency) of Revenues
Over (Under) Expenditures 278,575 395,806 378,963 (16,843) Other Financing Sources (Uses):
Transfers out - (227,290) (166,034) 61,256 Total Other Financing Sources (Uses) - (227,290) (166,034) 61,256 Net Change in Fund Balances 278,575$ 168,516$ 212,929 44,413$ Fund Balances - Beginning 2,651,870
Fund Balances - Ending 2,864,799$
107
CITY OF FULLERTON
Budgetary Comparison Schedule
Air Quality Improvement
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 181,000$ 181,000 $ 137,942 $ (43,058)$ Investment income 15,600 15,600 12,739 (2,861) Total Revenues 196,600 196,600 150,681 (45,919) Expenditures:
Current:
Community development 38,050 38,050 5,026 33,024 Capital outlay 265,000 265,000 - 265,000 Total Expenditures 303,050 303,050 5,026 298,024 Excess (Deficiency) of Revenues
Over (Under) Expenditures (106,450) (106,450) 145,655 252,105 Other Financing Sources (Uses):
Transfers out - (208,748) (200,000) 8,748 Total Other Financing Sources (Uses) - (208,748) (200,000) 8,748 Net Change in Fund Balances (106,450)$ (315,198)$ (54,345) 260,853$ Fund Balances - Beginning 1,044,058
Fund Balances - Ending 989,713$
108
CITY OF FULLERTON
Budgetary Comparison Schedule
Sanitation
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 7,200,000$ 7,200,000$ 6,561,617$ (638,383)$ Investment income 58,136 58,136 31,196 (26,940) Total Revenues 7,258,136 7,258,136 6,592,813 (665,323) Expenditures:
Current:
General government 51,257 52,457 52,382 75 Public works 7,894,680 7,893,480 7,360,123 533,357 Capital outlay 6,500 6,500 - 6,500 Total Expenditures 7,952,437 7,952,437 7,412,505 539,932 Excess (Deficiency) of Revenues
Over (Under) Expenditures (694,301) (694,301) (819,692) (125,391) Other Financing Sources (Uses):
Transfers out - (20,352) - 20,352 Total Other Financing Sources (Uses) - (20,352) - 20,352 Net Change in Fund Balances (694,301)$ (714,653)$ (819,692) (105,039)$ Fund Balances - Beginning 2,391,901
Fund Balances - Ending 1,572,209$
109
CITY OF FULLERTON
Budgetary Comparison Schedule
Measure M2
For the Year Ended June 30, 2023
Variance with
F inal Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 2,968,104$ 2,968,104$ 3,295,057$ 326,953$ Investment income 72,925 72,925 (6,429) (79,354) Total Revenues 3,041,029 3,041,029 3,288,628 247,599 Expenditures:
Current:
Parks and recreation 276,000 276,000 124,022 151,978 Public works 404,000 404,000 266,580 137,420 Total Expenditures 680,000 680,000 390,602 289,398 Excess (Deficiency) of Revenues
Over (Under) Expenditures 2,361,029 2,361,029 2,898,026 536,997 Other Financing Sources (Uses):
Transfers out (2,259,834) (5,535,813) (770,628) 4,765,185 Total Other Financing Sources (Uses) (2,259,834) (5,535,813) (770,628) 4,765,185 Net Change in Fund Balances 101,195$ (3,174,784)$ 2,127,398 5,302,182$ Fund Balances - Beginning 4,862,499
Fund Balances - Ending 6,989,897$
110
CITY OF FULLERTON
Budgetary Comparison Schedule
Housing
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Investment income 275,350$ 275,350 $ 267,412 $ (7,938)$ Miscellaneous - - 4,750 4,750 Total Revenues 275,350 275,350 272,162 (3,188) Expenditures:
Current:
Community development 998,599 998,599 11,349 987,250 Total Expenditures: 998,599 998,599 11,349 987,250 Net Change in Fund Balances (723,249)$ (723,249)$ 260,813 984,062$ Fund Balances - Beginning 12,913,930
Fund Balances - Ending 13,174,743$
111
CITY OF FULLERTON
Budgetary Comparison Schedule
FTV Cable - PEG Access Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Taxes 200,000$ 200,000 $ 208,688 $ 8,688$ Investment income 16,015 16,015 10,762 (5,253) Total Revenues 216,015 216,015 219,450 3,435 Expenditures:
Current:
General government 194,856 194,856 30,628 164,228 Total Expenditures: 194,856 194,856 30,628 164,228 Net Change in Fund Balances 21,159$ (698,358)$ 186,573 556,475$ Fund Balances - Beginning 1,020,065
Fund Balances - Ending 1,206,638$
112
CITY OF FULLERTON
Budgetary Comparison Schedule
SB2 / PLHA
For the Year Ended June 30, 2023
Variance with
F inal Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 1,070,068$ 1,070,068$ 1,070,068$ -$ Investment income - - 5,192 5,192 Total Revenues 1,070,068 1,070,068 1,075,260 5,192 Expenditures:
Current:
Community development 1,070,068 1,070,068 214,602 855,466 Total Expenditures: 1,070,068 1,070,068 214,602 855,466 Net Change in Fund Balances -$ -$ 860,658 (850,274)$ Fund Balances - Beginning (1,473,310)
Fund Balances - Ending (612,652)$
113
CITY OF FULLERTON
Budgetary Comparison Schedule
Capital Projects
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 5,197,672$ 30,339,579 $ 6,753,049 $ (23,586,530)$ Charges for services 120,000 990,193 128,560 (861,633) Miscellaneous - - 171,520 171,520 Total Revenues 5,317,672 31,329,772 7,053,129 (24,276,643) Expenditures:
Current:
Public works - - 2,340,531 (2,340,531) Capital outlay 22,692,340 78,913,080 19,908,590 59,004,490 Total Expenditures: 22,692,340 78,913,080 22,249,121 56,663,959 Excess (Deficiency) of Revenues
Over (Under) Expenditures (17,374,668) (47,583,308) (15,195,992) 32,387,316 Other Financing Sources
Transfers in 17,374,668 40,739,157 10,469,703 (30,269,454) Transfers out - (532,750) (730,024) (197,274) Notes and loans issued 6,844,151 6,844,151 - (6,844,151) Total Other Financing Sources (Uses): 24,218,819 47,050,558 9,739,679 (37,310,879) Net Change in Fund Balances 6,844,151$ (532,750)$ (5,456,313) (4,923,563)$ Fund Balances - Beginning (393,705)
Fund Balances - Ending (5,850,018)$
114
CITY OF FULLERTON
Combining Statement of Net Position
Nonmajor Proprietary Funds
June 30, 2023
Totals
Assets:
Current Assets:
Cash and investments 3,041,852$ -$ -$ 3,041,852$ Restricted assets - cash held with fiscal agent 285,662 - - 285,662 Accounts receivable 7,286 - - 7,286 Accrued interest receivable 17,583 - - 17,583 Lease receivable 2,080 - - 2,080 Inventory 85,074 - - 85,074 Total Current Assets 3,439,537 - - 3,439,537 Noncurrent Assets:
Lease receivable 884,625 - - 884,625 Capital assets - net of accumulated depreciation 2,480,754 541,789 27,632 3,050,175 Total Noncurrent Assets 3,365,379 541,789 27,632 3,934,800 Total Assets 6,804,916 541,789 27,632 7,374,337 Deferred Outflows of Resources:
Pension deferrals 151,094 21,808 12,134 185,036 Other post-employment benefits deferrals 28,501 7,346 4,453 40,300 Total Deferred Outflows of Resources 179,595 29,154 16,587 225,336 Liabilities:
Current Liabilities:
Accounts payable 2,868,879 - 13 2,868,892 Accrued liabilities 4,957 272 212 5,441 Accrued interest payable 16,932 1,353 511 18,796 Deposits payable 990 - - 990 Due to other funds - 290,984 27,686 318,670 Subscription liabilities - - 2,266 2,266 Compensated absences - current 3,064 - - 3,064 Bonds payable - current 21,386 - - 21,386 Total Current Liabilities 2,916,208 292,609 30,688 3,239,505 Noncurrent Liabilities:
Compensated absences 12,258 1,782 1,500 15,540 Bonds payable 1,299,991 - - 1,299,991 Subscription liabilities - - 23,652 23,652 Net pension liability 502,959 72,595 40,390 615,944 Net other post-employment benefits liability 110,921 28,590 17,329 156,840 Total Noncurrent Liabilities 1,926,129 102,967 82,871 2,111,967 Total Liabilities 4,842,337 395,576 113,559 5,351,472 Deferred Inflows of Resources:
Leases 839,811 - - 839,811 Pension deferrals 15,610 2,253 1,254 19,117 Other post-employment benefits deferrals 58,827 15,163 9,190 83,180 Total Deferred Inflows of Resources 914,248 17,416 10,444 942,108 Net Position:
Net investment in capital assets 1,159,377 541,789 1,714 1,702,880 Restricted for debt service 285,662 - - 285,662 Unrestricted (217,113) (383,838) (81,498) (682,449) Total Net Position 1,227,926$ 157,951$ (79,784)$ 1,306,093$ Compressed
Natural Gas
Facility
Business-Type Activities - Enterprise Funds
Brea Dam
Facilities
Recreational
Parking
Facilities
115
CITY OF FULLERTON
Combining Statement of Revenues, Expenses, and
Changes in Net Position
Nonmajor Proprietary Funds
For the Year Ended June 30, 2023
Totals
Operating Revenues:
Sales and service charges 4,222,986$ -$ 285$ 4,223,271$ Miscellaneous 30,000 - - 30,000 Total Operating Revenues 4,252,986 - 285 4,253,271 Operating Expenses:
Maintenance, operations, and administration 3,730,075 78,477 107,860 3,916,412 Depreciation/amortization expense 85,321 - 1,316 86,637 Total Operating Expenses 3,815,396 78,477 109,176 4,003,049 Operating Income (Loss) 437,590 (78,477) (108,891) 250,222 Nonoperating Revenues (Expenses):
Investment earnings 47,751 (1,582) 2,575 48,744 Interest expense (40,185) - (382) (40,567) Gain (loss) on disposal of fixed assets - 7,500 - 7,500 Total Nonoperating Revenues (Expenses) 7,566 5,918 2,193 15,677 Income (Loss) Before Transfers 445,156 (72,559) (106,698) 265,899 Transfers out (287,045) - - (287,045) Changes in Net Position 158,111 (72,559) (106,698) (21,146) Net Position:
Net Position - Beginning 1,069,815 230,510 26,914 1,327,239 Net Position - Ending 1,227,926$ 157,951$ (79,784)$ 1,306,093$ Brea Dam
Facilities
Recreational
Parking
Facilities
Compressed
Natural Gas
Facility
Business-Type Activities - Enterprise Funds
116
CITY OF FULLERTON
Combining Statement of Cash Flows
Nonmajor Proprietary Funds
For the Year Ended June 30, 2023
Totals
Cash Flows from Operating Activities:
Receipts from customers 4,274,100$ -$ 285$ 4,274,385$ Payments to suppliers and service providers (2,617,629) (80,935) (74,083) (2,772,647) Payments to employees for salaries and benefits (340,334) (17,996) (20,002) (378,332) Net Cash Provided by (Used for)
Operating Activities 1,316,137 (98,931) (93,800) 1,123,406 Cash Flows from Noncapital Financing Activities:
Cash received on short-term interfund borrowings - 91,877 - 91,877 Cash transfers out (287,045) - - (287,045) Net Cash Provided by (Used for)
Non-Capital Financing Activities (287,045) 91,877 - (195,168) Cash Flows from Capital and Related Financing Activities:
Acquisition and construction of capital assets (7,147) - - (7,147) Principal paid on capital debt (140,000) - - (140,000) Interest paid on capital debt (39,471) - - (39,471) Proceeds from sales of capital assets - 7,500 - 7,500 Net Cash Provided by (Used for)
Capital and Related Financing Activities (186,618) 7,500 - (179,118) Cash Flows from Investing Activities:
Interest on investments 34,688 (446) ( 222) 34,020 Net Cash Provided by (Used for)
Investing Activities 34,688 (446) (222) 34,020 Net Increase (Decrease) in Cash and Cash Equivalents 877,162 - (94,022) 783,140 Cash and Cash Equivalents, July 1 2,450,352 - 94,022 2,544,374 Cash and Cash Equivalents, June 30 3,327,514$ -$ -$ 3,327,514$ Reconciliation of Cash and Cash Equivalents to
Amounts Reported on the Combining Statement
of Net Position:
Cash and investments 3,041,852$ -$ -$ 3,041,852$ Restricted assets - cash held with fiscal agent 285,662 - - 285,662 Cash and Cash Equivalents, June 30 3,327,514$ -$ -$ 3,327,514$ Reconciliation of Operating (Loss) to Net Cash
Provided by (Used for) by Operating Activities:
Operating Income (Loss) 437,590$ (78,477) $ ( 108,891)$ 250,222 $ Adjustments to Reconcile Operating (Loss) to
Net Cash Provided by (Used for) Operating Activities:
Depreciation/amortization expense 85,321 - 1,316 86,637 (Increase) decrease in accounts receivable 20,344 - - 20,344 (Increase) decrease in inventories (28,851) - - (28,851) Increase (decrease) in accounts payable 716,646 (2,458) (4,614) 709,574 Increase (decrease) in accrued liabilities (3,133) (716) (214) (4,063) Increase (decrease) in deposits payable 770 - - 770 Increase (decrease) in compensated absences 2,173 1,782 1,500 5,455 Increase (decrease) in pension liability and related items 4,306 (21,521) (22) (17,237) Increase (decrease) in OPEB liability and related items 80,971 2,459 17,125 100,555 Total Adjustments 878,547 (20,454) 15,091 873,184 Net Cash Provided by (Used for)
Operating Activities 1,316,137$ (98,931)$ (93,800)$ 1,123,406$ Schedule of Non-Cash Capital and Related
Financing Activities and Investing Activities:
Unrealized gain/(loss) on investments (15,400)$ 1,200$ 2,818$ (11,382)$ Amortization of bond discount (2,483) - - (2,483) Compressed
Natural Gas
Facility
Business-Type Activities - Enterprise Funds
Brea Dam
Facilities
Recreational
Parking
Facilities
117
CITY OF FULLERTON
Combining Statement of Net Position
Internal Service Funds
June 30, 2023
Assets:
Current Assets:
Cash and investments 23,800,098$ 6,468,854$ 30,569,540$ 2,412,380$ 3,947,920$ Accounts receivable - - - - 42,020 Accrued interest receivable 110,666 26,440 142,143 11,217 18,366 Inventory - - - - 237,291 Restricted:
Cash with fiscal agent - - - - - Total Current Assets 23,910,764 6,495,294 30,711,683 2,423,597 4,245,597 Noncurrent Assets:
Capital assets - net of accumulated
depreciation/amortization 1,372 10,719,621 12,314 12,418 10,487 Total Noncurrent Assets 1,372 10,719,621 12,314 12,418 10,487 Total Assets 23,912,136 17,214,915 30,723,997 2,436,015 4,256,084 Deferred Outflows of Resources:
Deferred charges on refunding 397,727 - - - - Pension deferrals 184,877 - 205,026 265,559 728,550 Other post-employment benefits deferrals 20,919 - 23,659 38,710 111,280 Total Deferred Outflows of Resources 603,523 - 228,685 304,269 839,830 Liabilities:
Current Liabilities:
Accounts payable 127 8,808 10,363 24,273 108,362 Accrued liabilities 3,222 - 3,785 25,319 11,956 Accrued interest payable 23,473 185 - - 8,460 Unearned revenues - - - 11,153 - Claims and judgments 4,313,000 - 2, 499,000 - - Loans payable - current - - - - - Bonds, notes, leases, and subscriptions - current 445,000 30,510 - - 432,549 Total Current Liabilities 4,784,822 39,503 2,513,148 60,745 561,327 Noncurrent Liabilities:
Claims and judgments 11,328,000 - 13,403,000 - - Bonds, notes, leases, and subscriptions payable 4,355,000 85,536 - - - Net pension liability 615,415 - 682,486 883,985 2,425,179 Net other post-employment benefits liability 81,414 - 92,078 150,655 433,084 Total Noncurrent Liabilities 16,379,829 85,536 14,177,564 1,034,640 2,858,263 Total Liabilities 21,164,651 125,039 16,690,712 1,095,385 3,419,590 Deferred Inflows of Resources:
Pension deferrals 19,100 - 21,182 27,436 75,269 Other post-employment benefits deferrals 43,178 - 48,834 79,900 229,687 Total Deferred Inflows of Resources 62,278 - 70,016 107,336 304,956 Net Position:
Net investment in capital assets 1,372 10,603,575 12,314 12,418 (422,062) Unrestricted 3,287,358 6,486,301 14,179,640 1,525,145 1,793,430 Total Net Position 3,288,730$ 17,089,876$ 14,191,954$ 1,537,563$ 1,371,368$ Governmental Activities - Internal Service Funds
Liability
Insurance
Vehicle
Replacement Workers' Comp
Group
Insurance
Equipment
Maintenance
118
CITY OF FULLERTON
Combining Statement of Net Position
Internal Service Funds
June 30, 2023
Assets:
Current Assets:
Cash and investments
Accounts receivable
Accrued interest receivable
Inventory
Restricted:
Cash with fiscal agent
Total Current Assets
Noncurrent Assets:
Capital assets - net of accumulated
depreciation/amortization
Total Noncurrent Assets
Total Assets
Deferred Outflows of Resources:
Deferred charges on refunding
Pension deferrals
Other post-employment benefits deferrals
Total Deferred Outflows of Resources
Liabilities:
Current Liabilities:
Accounts payable
Accrued liabilities
Accrued interest payable
Unearned revenues
Claims and judgments
Loans payable - current
Bonds, notes, leases, and subscriptions - current
Total Current Liabilities
Noncurrent Liabilities:
Claims and judgments
Bonds, notes, leases, and subscriptions payable
Net pension liability
Net other post-employment benefits liability
Total Noncurrent Liabilities
Total Liabilities
Deferred Inflows of Resources:
Pension deferrals
Other post-employment benefits deferrals
Total Deferred Inflows of Resources
Net Position:
Net investment in capital assets
Unrestricted
Total Net Position
Totals
808,348$ 5,663,270 $ 2,459,416 $ 76,129,826 $ - - - 42,020 942 25,893 13,920 349,587 - - - 237,291 - 4,661,378 - 4, 661,378 809,290 10, 350,541 2,473,336 81, 420,102 5,172,279 45,660 68,630 16, 042,781 5,172,279 45,660 68,630 16, 042,781 5,981,569 10, 396,201 2,541,966 97, 462,883 - - - 397,727
316,612 582,686 - 2, 283,310 40,530 99,588 - 334,686 357,142 682,274 - 3, 015,723 819,145 83,679 - 1, 054,757 9,073 11,169 - 64,524 36,671 25,540 - 94,329 - - - 11,153 - - - 6, 812,000 - - - - 628,376 210,102 - 1, 746,537 1,493,265 330,490 - 9, 783,300 - - - 24, 731,000 2,087,453 8,303,385 - 14, 831,374 1,053,930 1,939,631 - 7, 600,626 157,735 387,579 - 1, 302,545 3,299,118 10, 630,595 - 48, 465,545 4,792,383 10, 961,085 - 58, 248,845 32,710 60,199 - 235,896 83,655 205,553 - 690,807 116,365 265,752 - 926,703 2,456,450 - 68,630 12, 732,697 (1,026,487) (1 48,362) 2,473,336 28,570,361 1,429,963$ ( 148,362)$ 2,541,966 $ 41,303,058 $ Governmental Activities - Internal Service Funds
Building
Maintenance
Facility Capital
Repair
Information
Technology
119
CITY OF FULLERTON
Combining Statement of Revenues
Expenses, and Changes in Net Position
Internal Service Funds
For the Year Ended June 30, 2023
Operating Revenues:
Interfund service charges 12,024,521$ 2,823,044$ 4,082,954$ 6,983,274$ 3,353,805$ Miscellaneous 1,000 259,531 302,974 34,216 48,617 Total Operating Revenues 12,025,521 3,082,575 4,385,928 7,017,490 3,402,422 Operating Expenses:
Maintenance, operations and administration 6,830,120 134,731 1,088,709 7,138,473 3,548,464 Claims expense 2,190,922 - 1,435,053 - - Depreciation/amortization expense 229 1,195,840 2,463 2,484 8,399 Total Operating Expenses 9,021,271 1,330,571 2,526,225 7,140,957 3,556,863 Operating Income (Loss) 3,004,250 1,752,004 1,859,703 (123,467) (154,441) Nonoperating Revenues (Expenses):
Investment earnings 244,367 60,563 365,347 23,148 73,256 Interest expense (149,003) (1,552) - - (12,145) Gain (loss) on disposal of capital assets - (1 94,366) - - (7,543) Total Nonoperating Revenues (Expenses) 95,364 (1 35,355) 365,347 23,148 53,568 Income (Loss) Before Transfers 3,099,614 1,616,649 2,225,050 (100,319) (100,873) Transfers in - 808,179 - - - Transfers out - - - - (1,972) Changes in Net Position 3,099,614 2,424,828 2,225,050 (100,319) (102,845) Net Position - Beginning 189,116 14,665,048 11,966,904 1,637,882 1,474,213 Net Position - Ending 3,288,730$ 17,089,876$ 14,191,954$ 1,537,563$ 1,371,368$ Governmental Activities - Internal Service Funds
Liability
Insurance
Vehicle
Replacement Workers' Comp
Group
Insurance
Equipment
Maintenance
120
CITY OF FULLERTON
Combining Statement of Revenues
Expenses, and Changes in Net Position
Internal Service Funds
For the Year Ended June 30, 2023
Operating Revenues:
Interfund service charges
Miscellaneous
Total Operating Revenues
Operating Expenses:
Maintenance, operations and administration
Claims expense
Depreciation/amortization expense
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses):
Investment earnings
Interest expense
Gain (loss) on disposal of capital assets
Total Nonoperating Revenues (Expenses)
Income (Loss) Before Transfers
Transfers in
Transfers out
Changes in Net Position
Net Position - Beginning
Net Position - Ending
Totals
6,818,577$ 2,788,130 $ 567,372 $ 39, 441,677$ - 540,662 - 1, 187,000 6,818,577 3,328,792 567,372 40, 628,677 7,942,608 2,723,387 226 29,406,718 - - - 3, 625,975 125,747 7,706 13,158 1, 356,026 8,068,355 2,731,093 13,384 34,388,719 (1,249,778) 597,699 553,988 6, 239,958 76,883 (4,906) 10,117 848,775 (41,144) - - ( 203,844) (3,277) - - ( 205,186) 32,462 (4,906) 10,117 439,745 (1,217,316) 592,793 564,105 6, 679,703 853,933 69,221 - 1, 731,333 - - ( 715,632) ( 717,604) (363,383) 662,014 ( 151,527) 7, 693,432 1,793,346 (810,376) 2,693,493 33, 609,626 1,429,963$ (148,362) $ 2,541,966 $ 41,303,058 $ Building
Maintenance
Facility Capital
Repair
Governmental Activities - Internal Service Funds
Information
Technology
121
CITY OF FULLERTON
Combining Statement of Cash Flows
Internal Service Funds
For the Year Ended June 30, 2023
Cash Flows from Operating Activities:
Receipts from interfund charges 12,024,521$ 2,862,066$ 4,082,954$ 6,969,818$ 3,313,102$ Other receipts - 2,004,469 - 34,216 48,617 Payments to suppliers and service providers (6,706,433) (172,207) (800,734) (6,443,421) (3,607,436) Payments to employees for salaries and benefits (155,595) - (184,446) (161,495) (487,205) Payments of insurance claims (2,342,922) - (1,615,079) - - Net Cash Provided by (Used for)
Operating Activities 2,819,571 4,694,328 1,482,695 399,118 (732,922) Cash Flows from Noncapital Financing Activities:
Transfers from other funds - - - - - Principal paid on noncapital debt (432,167) - - - - Interest paid on noncapital debt (112,797) - - - - Transfers to other funds - - - - (1,972) Net Cash Provided by (Used for)
Noncapital Financing Activities (544,964) - - - (1,972) Cash Flows from Capital and Related Financing Activities:
Acquisition and construction of capital assets - (4,003,206) - - - Principal paid on capital debt - - - - ( 197,893) Interest paid on capital debt - (3,108) - - (22,944) Gain (loss) on disposal of capital assets - (194,366) - - - Net Cash Provided by (Used for)
Capital and Related Financing - (4,200,680) - - ( 220,837) Cash Flows from Investing Activities:
Interest on investments 157,049 39,365 254,863 14,134 58,654 Net Cash Provided by (Used for)
Investing Activities 157,049 39,365 254,863 14,134 58,654 Net Increase (Decrease) in Cash and Cash Equivalents 2,431,656 533,013 1,737,558 413,252 (897,077) Cash and Cash Equivalents, July 1 21,368,442 5,935,841 28,831,982 1,999,128 4,844,997 Cash and Cash Equivalents, June 30 23,800,098$ 6,468,854$ 30,569,540$ 2,412,380$ 3,947,920$ Reconciliation of Operating Income (Loss) to
Net Cash Provided by (Used for) Operating Activities:
Operating income (loss) 3,004,250$ 1,752,004$ 1,859,703$ (123,467)$ (154,441)$ Adjustments to Reconcile Operating Income (Loss) to
Net Cash Provided by (Used for) Operating Activities:
Depreciation/amortization expense 229 1,195,840 2,463 2,484 8,399 Nonoperating miscellaneous revenues/(expenses) - - - - - (Increase) decrease in accounts receivable - 39,022 - - (40,703) (Increase) decrease in inventories - - - - 71,965 (Increase) decrease in prepaid items 4,000 1,744,938 - 391,212 - Increase (decrease) in accounts payable (11,912) (37,476) (2,597) (39,577) (130,937) Increase (decrease) in accrued liabilities (3,806) - (3,644) 10,086 (22,381) Increase (decrease) in unearned revenues - - - (13,456) - Increase (decrease) in claims and judgments (153,000) - (483,000) - - Increase (decrease) in pension liability and related items 38,917 - 52,576 124,324 (227,493) Increase (decrease) in OPEB liability and related items (59,107) - 57,194 47,512 (237,331) Total Adjustments (184,679) 2,942,324 (377,008) 522,585 (578,481) Net Cash Provided by (Used for)
Operating Activities 2,819,571$ 4,694,328$ 1,482,695$ 399,118$ (732,922)$ Schedule of Non-Cash Capital and Related Financing
Activities and Investing Activities:
Gain/(loss) on disposal of capital assets -$ (194,366)$ -$ -$ (7,543)$ Amortization of bond discount 31,160 - - - - Unrealized gain/(loss) on investments 23,080 (1,792) 65,944 (1,200) 33,987 Governmental Activities - Internal Service Funds
Liability
Insurance
Vehicle
Replacement Workers' Comp
Group
Insurance
Equipment
Maintenance
122
CITY OF FULLERTON
Combining Statement of Cash Flows
Internal Service Funds
For the Year Ended June 30, 2023
Cash Flows from Operating Activities:
Receipts from interfund charges
Other receipts
Payments to suppliers and service providers
Payments to employees for salaries and benefits
Payments of insurance claims
Net Cash Provided by (Used for)
Operating Activities
Cash Flows from Noncapital Financing Activities:
Transfers from other funds
Principal paid on noncapital debt
Interest paid on noncapital debt
Transfers to other funds
Net Cash Provided by (Used for)
Noncapital Financing Activities
Cash Flows from Capital and Related Financing Activities:
Acquisition and construction of capital assets
Principal paid on capital debt
Interest paid on capital debt
Gain (loss) on disposal of capital assets
Net Cash Provided by (Used for)
Capital and Related Financing
Cash Flows from Investing Activities:
Interest on investments
Net Cash Provided by (Used for)
Investing Activities
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents, July 1
Cash and Cash Equivalents, June 30
Reconciliation of Operating Income (Loss) to
Net Cash Provided by (Used for) Operating Activities:
Operating income (loss)
Adjustments to Reconcile Operating Income (Loss) to
Net Cash Provided by (Used for) Operating Activities:
Depreciation/amortization expense
Nonoperating miscellaneous revenues/(expenses)
(Increase) decrease in accounts receivable
(Increase) decrease in inventories
(Increase) decrease in prepaid items
Increase (decrease) in accounts payable
Increase (decrease) in accrued liabilities
Increase (decrease) in unearned revenues
Increase (decrease) in claims and judgments
Increase (decrease) in pension liability and related items Increase (decrease) in OPEB liability and related items Total Adjustments
Net Cash Provided by (Used for)
Operating Activities
Schedule of Non-Cash Capital and Related Financing
Activities and Investing Activities:
Gain/(loss) on disposal of capital assets
Amortization of bond discount
Unrealized gain/(loss) on investments
Totals
6,818,577$ 2,788,130$ 567,372$ 39,426,540$ - 540,662 - 2,627,964 (7,772,275) (2,768,288) (226) (28,271,020) (193,294) (285,056) - (1, 467,091) - - - (3, 958,001) (1,146,992) 275,448 567,146 8,358,392 853,933 69,221 - 923,154 - - - ( 432,167) - - - ( 112,797) - - (71 5,633) ( 717,605) 853,933 69,221 (71 5,633) ( 339,415) (2,331,781) - - (6, 334,987) - (380,513) - ( 578,406) - (1,142) - (27,194) 3,277 - - (191,089)
(2,328,504) (381,655) - (7, 131,676) 224,907 (28,060) (1,827) 719,085 224,907 (28,060) (1,827) 719,085 (2,396,656) (65,046) (15 0,314) 1,606,386 3,205,004 10,389,694 2,609,730 79,184,818 808,348$ 1 0,324,648$ 2, 459,416$ 80,791,204 $ (1,249,778)$ 597,699 $ 553,988$ 6,239,958 $ 125,747 7,706 13,158 1,356,026 - - - - - - - ( 1,681) - - - 71,965 - - - 2,140,150 170,333 (44,901) - (97,067) (8,741) (6,961) - (35,447) - - - (13,456) - - - ( 636,000) (135,657) (122,312) - ( 269,645) (48,896) (155,783) - ( 396,411) 102,786 (322,251) 13,158 2,118,434 (1,146,992)$ 275,448 $ 567,146$ 8,358,392 $ (3,277)$ - $ - $ ( 205,186)$ - - - 31,160 71,920$ (53,801) $ (18,008) $ 120,130 $ Building
Maintenance
Facility Capital
Repair
Governmental Activities - Internal Service Funds
Information
Technology
123
CITY OF FULLERTON
Combining Statement of Fiduciary Net Position
Custodial Funds
June 30, 2023
Assets:
Cash and cash equivalents 126,779$ 228,598$ 399,574$ 754,951$ Receivables:
Taxes - 25,058 - 25,058 Total Assets 126,779 253,656 399,574 780,009 Liabilities:
Accounts payable 41,943 - - 41,943 Due to bondholders - 253,656 399,574 653,230 Total Liabilities 41,943 253,656 399,574 695,173 Net Position:
Restricted for individuals, organizations, and other governments 84,836 - - 84,836 Total Net Position 84,836$ -$ -$ 84,836$ Total
Collections for
Other
Governments
Community
Facilities
Districts
Assessment
Districts
124
CITY OF FULLERTON
Combining Statement of Changes in Fiduciary Net Position Custodial Funds
For the Year Ended June 30, 2023
Additions:
Miscellaneous 376,421$ 2,258,699 $ 8,710 $ 2,643,830$ Total Additions 376,421 2,258,699 8,710 2,643,830 Deductions:
Miscellaneous 349,268 2,258,699 8,710 2,616,677 Total Deductions 349,268 2,258,699 8,710 2,616,677 Changes in Net Position 27,153 - - 27,153 Net Position - Beginning, as Restated 57,683 - - 57,683 Net Position - Ending 84,836$ -$ -$ 84,836$ Collections for
Other
Governments
Community
Facilities
Districts
Assessment
Districts Total
125
7+,63$*(,17(17,21$//</()7%/$1.
126
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127
City of Fullerton
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
(in Thousands)
2013-14 2014-15 2015-16 2016-17 2017-18
Governmental activities
Net investment in capital assets 306,424 $ 343,504$ 384,032 $ 406,560 $ 428,099$ Restricted 30,585 28,620 26,427 27,704 39,316 Unrestricted 33,585 (128,432) (122,478) (123,501) (169,976) Total governmental activities net position 370,594$ 243,692$ 287,981 $ 310,763 $ 297,439$ Business-type activities
Net investment in capital assets 80,109 $ 87,838 $ 93,508 $ 97,142 $ 102,771$ Restricted 556 308 279 276 298 Unrestricted 24,948 10,579 11,119 14,490 14,223 Total business-type activities net position 105,613$ 98,725$ 104,906$ 111,908$ 117,292$ Primary government
Net investment in capital assets 386,533 $ 431,342$ 477,540 $ 503,701 $ 530,870$ Restricted 31,141 28,928 26,706 27,980 39,614 Unrestricted 58,533 (117,853) (111,358) (109,010) (155,753) Total primary government net position 476,207$ 342,417$ 392,887$ 422,671$ 414,731$ Fiscal Year
128
City of Fullerton
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
(in Thousands)
Governmental activities
Net investment in capital assets
Restricted
Unrestricted
Total governmental activities net position
Business-type activities
Net investment in capital assets
Restricted
Unrestricted
Total business-type activities net position
Primary government
Net investment in capital assets
Restricted
Unrestricted
Total primary government net position
2018-19 2019-20 2020-21 2021-22 2022-23
450,340$ 469,893 $ 473,537 $ 486,642$ 499,394$ 42,006 41,568 41,442 42,423 45,654 (170,220) (181,629) ( 190,128) (1 56,105) (1 49,971) 322,126$ 329,832 $ 324,851 $ 372,960$ 395,077$ 108,226$ 114,443 $ 122,811 $ 134,468$ 143,202$ 300 300 289 260 286 16,408 18,156 27,727 41,377 52,900 124,934$ 132,899 $ 150,827 $ 176,105$ 196,388$ 558,566$ 584,336 $ 596,348 $ 621,110$ 642,596$ 42,306 41,868 41,731 42,683 45,940 (153,812) (163,473) ( 162,401) (1 14,728) (9 7,071) 447,060$ 462,731 $ 475,678 $ 549,065$ 591,465$ Fiscal Year
129
City of Fullerton
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
(in Thousands)
2013-14 2014-15 2015-16 2016-17 2017-18
Expenses
Governmental activities:
General government 3,607 $ 4,983 $ 1,799 $ 1,594 $ 6,862 $ Public safety 54,469 55,089 57,569 65,249 75,773 Community development 8,074 8,583 5,539 6,687 8,761 Human and leisure 10,661 11,110 11,741 11,670 12,670 Public works 17,039 18,598 23,129 26,944 28,183 Refuse collection 10,011 10,077 10,181 10,384 10,394 Interest on long-term debt 533 554 431 378 358 Total governmental activities net expenses 104,394 108,994 110,389 122,906 143,001 Business-type activities:
Airport 1,517 1,445 1,492 1,526 1,667 Brea Dam recreational facilities 2,899 2,745 2,764 2,857 2,770 Water utility 27,929 26,929 24,991 27,268 30,290 Parking facilities 51 29 28 28 45 Sewer enterprise 2,384 3,375 3,076 3,495 3,735 Compressed Natural Gas facility 412 522 458 396 274 Total business-type activities net expenses 35,192 35,045 32,809 35,570 38,781 Total primary government expenses 139,586$ 144,039$ 143,198$ 158,476$ 181,782$ Program Revenues
Governmental activities:
Charges for services:
General government 547 $ 1,553 $ 820 $ 778 $ 1,305 $ Public safety 5,140 5,066 5,035 5,071 5,179 Community development 4,529 4,085 3,810 4,548 4,515 Human and leisure 3,288 8,400 1,547 4,399 1,809 Public works 7,723 7,691 7,300 8,195 9,717 Refuse collection 10,255 10,449 10,569 10,788 10,894 Operating grants and contributions 8,990 8,820 8,473 13,748 8,897 Capital grants and contributions 35,283 39,543 29,053 22,761 23,180 Total governmental activities program revenues 75,755 85,607 66,607 70,288 65,496 Fiscal Year
130
City of Fullerton
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
(in Thousands)
Expenses
Governmental activities:
General government
Public safety
Community development
Human and leisure
Public works
Refuse collection
Interest on long-term debt
Total governmental activities net expenses
Business-type activities:
Airport
Brea Dam recreational facilities
Water utility
Parking facilities
Sewer enterprise
Compressed Natural Gas facility
Total business-type activities net expenses
Total primary government expenses
Program Revenues
Governmental activities:
Charges for services:
General government
Public safety
Community development
Human and leisure
Public works
Refuse collection
Operating grants and contributions
Capital grants and contributions
Total governmental activities program revenues
2018-19 2019-20 2020-21 2021-22 2022-23
5,675$ 6,368 $ 7,814 $ 7,941 $ 15,532 $ 76,743 83,043 83,200 74,950 82,072 10,645 8,524 10,123 7,194 7,413 13,065 13,574 11,058 11,134 11,447 24,726 26,077 24,617 24,819 27,870 10,878 11,716 12,862 12,766 13,504 391 410 336 241 246 142,123 149,712 150,010 139,044 158,084 1,831 2,493 1,953 2,227 2,125 2,945 2,679 2,729 3,978 3,730 27,806 32,315 32,167 31,070 29,345 23 104 97 73 76 3,384 4,831 3,412 3,579 5,559 140 196 170 285 106 36,129 42,618 40,528 41,212 40,941 178,252$ 192,330$ 190,538$ 180,256$ 199,025$ 1,222$ 962 $ 1,857 $ 1,593 $ 769 $ 7,209 7,945 7,095 8,284 10,174 4,850 3,936 4,359 5,977 6,524 5,387 1,356 1,552 1,000 1,190 11,587 11,449 11,618 11,686 12,023 11,661 12,059 13,107 13,728 14,332 9,035 10,538 13,978 12,589 23,760 27,752 4,796 3,725 20,434 6,924 78,703 53,041 57,291 75,291 75,696 Fiscal Year
131
City of Fullerton
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
(in Thousands)
2013-14 2014-15 2015-16 2016-17 2017-18
Business-type activities:
Charges for services:
Airport 1,643 1,650 1,885 1,823 1,775 Brea Dam recreational facilities 3,017 3,083 2,918 2,725 2,863 Water utility 29,454 28,715 27,041 30,021 33,095 Parking facilities - - 17 24 16 Sewer enterprise 6,799 6,418 5,844 5,948 6,390 Compressed Natural Gas facility 510 385 552 313 421 Operating grants and contributions - - - - - Capital grants and contributions 79 457 420 1,417 189 Total business-type activities program revenues 41,502 40,708 38,677 42,271 44,749 Primary government program revenues 117,257$ 126,315$ 108,965$ 107,767$ 123,452$ Net (Expense)/Revenue
Governmental activities (28,638)$ (23,387)$ (43,783)$ (52,618)$ (77,505)$ Business-type activities 6,309 5,663 5,869 6,701 5,968 Total primary government net expense (22,329)$ (17,724)$ (37,914)$ (45,917)$ (71,537)$ General Revenues and
Other Changes in Net Position
Governmental activities:
Property taxes 32,950$ 35,723$ 37,840$ 39,738$ 42,146$ Sales taxes 20,582 20,643 23,000 21,456 21,834 Franchise taxes 3,971 4,392 4,383 4,181 4,336 Other Taxes - - - - - Unrestricted motor vehicle in-lieu taxes 57 57 64 75 Use of money and property 3,636 3,858 4,615 3,976 4,594 Miscellaneous 4,283 4,699 4,823 6,024 5,558 Extraordinary item (22,359) - 13,667 - - Gain on sale of capital asset - - - - 3,150 Transfers (36) (36) (36) (36) (290) Total governmental activities 43,027 69,336 88,349 75,403 81,403 Business-type activities:
Property taxes 93 105 104 110 98 Use of money and property 80 39 41 38 40 Miscellaneous 244 366 132 117 166 Gain on sale of capital asset - - - - - Transfers 36 36 36 36 290 Total business-type activities 453 546 313 301 594 Total primary government 43,480$ 69,882$ 88,662$ 75,704$ 81,997$ Change in Net Position
Governmental activities 14,388$ 45,948$ 44,566$ 22,782$ 3,898$ Business-type activities 6,763 6,210 6,182 7,002 6,562 Total primary government 21,151$ 52,158$ 50,748$ 29,784$ 10,460$ Fiscal Year
132
City of Fullerton
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
(in Thousands)
Business-type activities:
Charges for services:
Airport
Brea Dam recreational facilities
Water utility
Parking facilities
Sewer enterprise
Compressed Natural Gas facility
Operating grants and contributions
Capital grants and contributions
Total business-type activities program revenues
Primary government program revenues
Net (Expense)/Revenue
Governmental activities
Business-type activities
Total primary government net expense
General Revenues and
Other Changes in Net Position
Governmental activities:
Property taxes
Sales taxes
Franchise taxes
Other Taxes
Unrestricted motor vehicle in-lieu taxes
Use of money and property
Miscellaneous
Extraordinary item
Gain on sale of capital asset
Transfers
Total governmental activities
Business-type activities:
Property taxes
Use of money and property
Miscellaneous
Gain on sale of capital asset
Transfers
Total business-type activities
Total primary government
Change in Net Position
Governmental activities
Business-type activities
Total primary government
2018-19 2019-20 2020-21 2021-22 2022-23
1,884 1,849 1,822 1,885 1,922 2,510 2,448 3,958 4,256 4,223 32,715 37,786 44,691 49,901 48,227 12 8 - - - 6,044 5,944 6,212 6,061 5,371 222 190 170 150 1 - - - 108 - 185 567 1,302 4,930 339 43,572 48,792 58,156 67,292 60,083 122,275$ 101,833$ 115,447$ 142,583$ 135,779$ (63,420)$ (96,671) $ (92,719) $ (63,753) $ (82,388) $ 7,443 6,174 17,628 26,080 19,142 (55,977)$ (90,497) $ (75,091) $ (37,673) $ (63,246) $ 44,204$ 46,258 $ 50,150 $ 50,894 $ 53,871 $ 24,438 23,095 25,571 30,494 31,876 4,493 4,358 4,382 4,468 4,996 - - - 5,552 5,217 69 113 104 161 148 8,444 7,453 3,271 372 6,414 6,459 5,249 3,898 1,147 1,797 - 17,850 - 18,378 - - - - - - - - 186 396 187 88,107 104,376 87,562 111,862 104,506 87 107 88 113 227 45 1,612 227 (861) 991 67 71 172 798 101 - - - - 8 - (186) (396) (187) 199 1,790 301 (346) 1,140 88,306$ 106,166 $ 87,863 $ 111,516 $ 105,646 $ 24,687$ 7,705 $ (5,157) $ 48,109 $ 22,118 $ 7,642 7,964 17,929 25,734 20,282 32,329$ 15,669 $ 12,772 $ 73,843 $ 42,400 $ Fiscal Year
133
City of Fullerton
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
(in Thousands)
2013-14 2014-15 2015-16 2016-17 2017-18
General Fund
Nonspendable 11$ 13$ 11$ 68$ 290$ Restricted - - - - - Committed 7,679 7,967 8,743 9,139 - Assigned 8,992
Unassigned 7,888 9,231 6,139 1,522 4,999 Total general fund 15,578$ 17,211$ 14,893$ 10,729$ 14,281$ All Other Governmental Funds
Nonspendable
Special revenue funds 17,821 - - - - Capital projects funds - - - - - Other governmental funds - - - - - Restricted
Special revenue funds 147 17,943 17,769 17,921 21,355 Capital projects funds - - - - - Debt service funds - - - - - Other governmental funds 10,361 10,677 8,658 9,783 17,962 Committed
Special revenue funds - 12,209 10,681 10,473 - Other governmental funds 13,849 9,520 10,227 9,445 - Assigned
Special revenue funds - - - - - Capital projects funds - - - - - Unassigned
Special revenue funds (237) (97) (39) (77) (172) Capital projects funds (18,281) (1,528) (4,187) (10,441) (3,233) Other governmental funds - - - - - Total all other governmental funds 23,660$ 48,724$ 43,109$ 37,104$ 35,912$ Beginning in 2011, the City started reporting fund balance in conformity with GASB Statement 54, which changed how fund balance is classified.
Fiscal Year
134
City of Fullerton
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
(in Thousands)
General Fund
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total general fund
All Other Governmental Funds
Nonspendable
Special revenue funds
Capital projects funds
Other governmental funds
Restricted
Special revenue funds
Capital projects funds
Debt service funds
Other governmental funds
Committed
Special revenue funds
Other governmental funds
Assigned
Special revenue funds
Capital projects funds
Unassigned
Special revenue funds
Capital projects funds
Other governmental funds
Total all other governmental funds
Beginning in 2011, the City started reporting fund balance 2018-19 2019-20 2020-21 2021-22 2022-23
7$ 3,214$ 2,908 $ 713 $ 313 $ 1,386 672 1,514 1,519 1,519 - - - 439 1,536 15,656 13,958 16,140 18,570 19,809 5,432 217 - 4,034 10,311 22,481$ 18,061 $ 20,562 $ 25,275 $ 33,488 $ - - - - - - - 170 52 - - - 1 - - - - 55 - - - - - - - - - - - - 40,620 40,897 39,873 40,903 44,135 - - - - - - - - - - - - - - - - 1,429 - - (189) (327) (1,015) (2,036) (1,234) (20,501) (1,391) - (446) (5,850) - - (847) (1,473) (613) 19,930$ 39,179 $ 39,666 $ 37,000 $ 36,438 $ Fiscal Year
135
City of Fullerton
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
(in Thousands)
2013-14 2014-15 2015-16 2016-17 2017-18
Revenues
Taxes 57,394$ 60,558$ 65,275$ 66,134$ 68,810$ Franchise fees 3,971 4,392 4,383 4,181 4,335 Licenses and permits 1,766 2,283 1,877 2,037 2,284 Intergovernmental 24,948 68,498 34,616 31,140 42,575 Charges for services 27,237 31,870 24,449 28,913 26,383 Investment income 3,430 3,595 4,156 3,897 4,399 Fines and forfeitures 1,586 1,751 1,628 1,513 1,674 Other 1,448 1,284 948 1,820 1,624 Total revenues 121,780 174,231 137,332 139,635 152,084 Expenditures
Current
General government 4,577 5,396 5,197 5,230 4,466 Public safety 53,909 55,877 61,631 64,986 65,519 Community development 4,661 4,982 5,746 6,717 6,763 Human and leisure 9,205 9,400 10,047 9,876 9,980 Public works 12,935 13,209 14,337 17,927 15,428 Refuse collection 10,011 10,078 10,183 10,385 10,737 Debt service
Principal retirement 753 764 712 722 519 Interest and fiscal charges 217 180 103 29 18 Capital outlay 39,276 47,912 37,338 37,012 38,426 Total expenditures 135,544 147,798 145,294 152,884 151,856 Excess (deficiency) of revenues
over (under) expenditures (13,764) 26,433 (7,962) (13,249) 228 Other Financing Sources (Uses)
Loss on disposition of assets - - - - (1,395) Proceeds from sale of capital asset 7 12 53 - 3,150 Transfers in 6,845 6,292 8,992 9,460 15,170 Transfers out (8,155) (6,040) (8,739) (8,853) (14,793) Lease financing - - - 2,473 - Subscription financing - - - - - Total other financing sources (uses) (1,303) 264 306 3,080 2,132 Extraordinary item - - - - Net change in fund balances (15,067) 26,697 (7,656) (10,169) 2,361 Fund balances - July 1 54,440 39,238 65,935 58,002 47,832 Restatements (135) - (277) - - Fund balances - June 30 39,238$ 65,935$ 58,002$ 47,833$ 50,193$ Debt service as a percentage of
noncapital expenditures 1.00% 0.92% 0.75% 0.64% 0.47%
Fiscal Years
136
City of Fullerton
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
(in Thousands)
Revenues
Taxes
Franchise fees
Licenses and permits
Intergovernmental
Charges for services
Investment income
Fines and forfeitures
Other
Total revenues
Expenditures
Current
General government
Public safety
Community development
Human and leisure
Public works
Refuse collection
Debt service
Principal retirement
Interest and fiscal charges
Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Other Financing Sources (Uses)
Loss on disposition of assets
Proceeds from sale of capital asset
Transfers in
Transfers out
Lease financing
Subscription financing
Total other financing sources (uses)
Extraordinary item -
Net change in fund balances
Fund balances - July 1
Restatements
Fund balances - June 30
Debt service as a percentage of
noncapital expenditures
2018-19 2019-20 2020-21 2021-22 2022-23
73,901$ 73,850 $ 79,279 $ 87,136 $ 91,173 $ 4,493 4,145 4,182 4,270 4,788 2,784 2,146 2,406 2,737 3,208 20,611 37,715 23,343 35,760 34,524 33,008 30,505 31,430 32,997 35,088 6,895 5,185 3,013 1,868 5,566 1,658 1,239 1,014 1,692 2,074 1,958 1,464 1,160 1,302 1,529 145,308 156,249 145,827 167,762 177,950 4,922 5,870 7,506 7,462 9,804 68,958 72,921 72,970 76,740 84,500 6,601 7,940 9,780 7,219 7,565 10,480 10,668 8,704 9,307 9,363 16,590 16,926 16,244 17,265 22,470 11,166 11,899 12,714 13,208 13,966 806 745 252 259 295 13 66 54 47 42 33,636 15,483 14,947 33,289 22,036 153,172 142,518 143,171 164,796 170,041
(7,864) 13,731 2,656 2,966 7,909 (3,406) - - - - 2,411 - - - - 10,637 13,711 15,573 12,438 14,365 (9,560) (15,513) (15,418) (13,357) (15,192) - - - - 389 - - - - 179 82 (1,802) 155 (919) (259) 2,900
(7,782) 14,829 2,811 2,047 7,650 50,193 42,411 57,240 60,228 62,275 - - 177 - - 42,411$ 57,240 $ 60,228 $ 62,275 $ 69,925 $
0.69% 0.64% 0.24% 0.23% 0.23%
Fiscal Years
137
City of Fullerton
Assessed Value and Actual Value of Taxable Property
Last Ten Fiscal Years
(in Thousands)
Total Taxable
Fiscal Residential Commercial Industrial Agricultural** Other* Tax-Ex empt Assessed Total Direct Year Property Property Pr operty Property Property Property Value Tax Ra te 2013-14 11,479,863 1,694,648 1,381,108 - 6,368 - 14,561,987 1.0568 2014-15 12,261,966 1,744,831 1,395,924 - 6,320 - 15,409,041 1.0543 2015-16 13,055,598 1,778,875 1,474,548 - 6,443 - 16,315,464 1.0649 2016-17 13,709,472 1,841,370 1,453,964 - 6,539 - 17,011,345 1.0798 2017-18 14,398,621 1,927,864 1,603,068 - 6,666 - 17,936,219 1.0816 2018-19 15,200,869 2,089,736 1,697,146 - 516 - 18,988,267 1.0785 2019-20 15,955,232 2,253,396 1,792,068 - 1,518 - 20,002,214 1.0737 2020-21 16,628,149 2,844,107 1,990,344 - 1,520 - 21,464,120 1.0825 2021-22 17,250,541 2,538,472 2,033,533 6,975 1,422 - 21,830,943 1.0769 2022-23 18,366,489 2,593,936 2,022,255 6,711 1,300 - 22,990,691 1.0747 *Other property includes water, mineral rights, rural, extensions, and unique miscellaneous. Values have changed due to reclassification.
**FY 21/22 Agricultural classification is added
Source: Orange County Assessor
138
City of Fullerton
Principal Property Tax Payers
Current Year and Nine Years Ago
Percentage Percentage
of Total City of Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Value Value Rank Value
Aspect Acquisition LLC 141,397,745$ 1 0.59
Prologis USLV Subreit 3 LLC 130,972,721 $ 2 0.55 FHF I Amerige Pointe LLC 126,630,750 $ 3 0.53
GLC Fullerton LLC 125,831,609$ 4 0.52
3503 RP Fullerton Metrocenter Land LLC 121,333,498$ 5 0.51 Uptown Fullerton LLC 108,270,969$ 6 0.45
University House Fullerton LLC 98,811,240$ 7 0.41 Trea Amplifi Apartments LLC 98,482,759 $ 8 0.41 Corecare III 96,490,639$ 9 0.40
Rreef America Reit II Corporation 95,103,025 $ 10 0.40 Realty Income Propertis 14 LLC
Kimberly-Clark Worldwide Inc 181,574,306$ 1 1.18 Corecare III 81,992,631 2 0.53
Rreef America Reit II Corporation 79,824,596 3 0.52 University House Fullerton LLC 73,667,834 4 0.48 Fullerton South LLC 61,290,822 5 0.40
Amerige Heights Apartments LLC 58,909,716 6 0.38 Breitburn Energy Partners 56,836,029 7 0.37 PK I Fullerton Town Center LP 56,053,832 8 0.36 CPT Parkside LP 55,705,393 9 0.36
Fullerton Metro Center LLC 51,677,032 10 0.34 1,143,324,955$ 4.76% 757,532,191 $ 4.92%
Source: Orange County Assessor 2022/23 Combined Tax Rolls and the SBE Non Unitary Tax Roll Excludes government and tax-exempt property owners
2022-23 2013-14
%
%
139
City of Fullerton
Secured Property Tax Levies and Collections
Last Ten Fiscal Years
Collections in
Subsequent
Years
Fiscal Year
ended June 30 Total Tax Levy Amount % of Levy Amount % of Levy 2014 20,444,654 20,167,631 98.65 170,860 20,338,491 99.48 2015 21,759,590 21,412,516 98.40 162,109 21,574,625 99.15 2016 22,974,457 22,718,019 98.88 159,395 22,877,414 99.58 2017 23,839,526 23,583,249 98.92 141,968 23,725,217 99.52 2018 24,908,566 24,706,931 99.19 142,799 24,849,730 99.76 2019 26,273,796 25,981,413 98.89 157,559 26,138,972 99.49 2020 27,520,292 27,217,700 98.90 214,101 27,431,801 99.68 2021 29,380,451 29,133,624 99.16 207,733 29,341,357 99.87 2022 29,446,168 29,147,874 98.99 183,935 29,147,874 98.99 2023 31,163,950 30,846,432 98.98 N/A 30,846,432 98.98
Property tax totals are net of 1915 act bond assessment district levies.
Collected within the Fiscal Year of the Levy Total Collections to Date Source: Orange County Auditor/Controller
140
City of Fullerton
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
(amounts expressed in thousands, except per capita amounts) Total % of
Fiscal Loans Section 108 Loans Construction Primary Personal P er Year Payable Loans Payable Loan Government Income (1) Capita (1) 2013-14 6,990 717 3,000 9,230 - 2,969 22,906 0.55% 163 2014-15 6,725 453 2,500 8,940 - 2,523 21,141 0.49% 150 2015-16 6,455 2,733 2,000 8,485 - 2,059 21,732 0.51% 154 2016-17 6,135 4,208 1,500 8,766 - 1,575 22,184 0.51% 157 2017-18 5,858 4,799 1,000 8,236 - 1,071 20,964 0.46% 145 2018-19 5,575 3,832 500 7,691 - 546 18,144 0.38% 126 2019-20 5,283 2,942 - 7,017 - - 15,242 0.30% 107 2020-21 5,649 2,531 - 6,606 - - 14,786 0.28% 106 2021-22 5,232 11,052 - 6,169 - - 22,453 0.37% 157 2022-23 4,800 10,082 - 5,723 - - 20,605 NYA 144 Note: Details regarding the outstanding debt can be found in the notes to the financial statements. (1) See the Schedule of Demographic and Economic Statistics for personal income and population data.
NYA = Not Yet Available
Governmental Activities Business-Type Activities
Bonds Bonds
141
City of Fullerton
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
(rate per $1,000 of assessed value)
N. OC Placentia Metro
Fiscal City Fullerton Anaheim Brea Olinda Buena Park La Habra Communi ty Yorba Linda Water Year Direct Rate Schools Schools Sc hools Schools Schools College School s District 2013-14 1.0000 0.03971 0.08468 0.0 2470 0.01662 0.02746 0.01704 0.06525 0.00350 2014-15 1.0000 0.03721 0.05279 0.0 2528 0.04793 0.02612 0.01704 0.05822 0.00350 2015-16 1.0000 0.03447 0.09175 0.0 2292 0.01628 0.02546 0.03043 0.05665 0.00350 2016-17 1.0000 0.05091 0.08720 0.0 2298 0.03570 0.02719 0.02885 0.05475 0.00350 2017-18 1.0000 0.05237 0.06713 0.0 2325 0.03455 0.03058 0.02927 0.05529 0.00350 2018-19 1.0000 0.05025 0.09303 0.0 2370 0.03034 0.03084 0.02829 0.05261 0.00350 2019-20 1.0000 0.04960 0.09911 0.0 2291 0.03593 0.03353 0.02409 0.04848 0.00350 2020-21 1.0000 0.05055 0.10566 0.0 2489 0.03396 0.03617 0.03198 0.06032 0.00350 2021-22 1.0000 0.04812 0.10125 0.0 2376 0.04206 0.04090 0.02877 0.04849 0.00350 2022-23 1.0000 0.04687 0.07683 0.0 2412 0.02907 0.03848 0.02778 0.04641 0.00350 N. OC Total
Fiscal City Fullerton Community Direct
Year Direct Rate Schools College Tax Rate
2013-14 1.0000 0.03971 0.01704 1.0568
2014-15 1.0000 0.03721 0.01704 1.0543
2015-16 1.0000 0.03447 0.03043 1.0649
2016-17 1.0000 0.05091 0.02885 1.0798
2017-18 1.0000 0.05237 0.02927 1.0816
2018-19 1.0000 0.05025 0.02829 1.0785
2019-20 1.0000 0.04960 0.02409 1.0737
2020-21 1.0000 0.05055 0.03198 1.0825
2021-22 1.0000 0.04812 0.02877 1.0769
2022-23 1.0000 0.04687 0.02778 1.0747
Source: Orange County Assessor Tax Rate Table
Overlapping Rates
Total Direct Tax Rate
142
City of Fullerton
Direct and Overlapping Governmental Activities Debt
As of June 30, 2023
(in Thousands) Estimated
Estimated Share of
Debt Percentage Overlapping
2022-23 Assessed Valuation: $24,028,401 Outstanding Applicable 1 Debt
Direct Debt:
City of Fullerton ²
Bonds Payable $4,800 100% 4,800
Loans Payable $10,082 100 10,082
Total City of Fullerton Direct Debt ² 14,882$
Overlapping Tax and Assessment Debt:
Metropolitan Water District 19,215$ 0.660% 127 $ North Orange County Joint Community College District 324,915 14.971 48,643 Brea-Olinda Unified School District 5,052 0.837 42 Placentia-Yorba Linda Unified School District 204,787 5.073 10,389 Anaheim Union High School District District 245,579 0.011 27 Fullerton Joint Union High School District 182,620 51.193 93,489 Anaheim School District 270,657 0.019 51 Buena Park School District 50,262 6.067 3,049 Fullerton School District 15,096 99.819 15,069 La Habra City School District 34,044 7.998 2,723 Fullerton School District Community Facilities District No. 2000-1 565 100 565 Fullerton School District Community Facilities District No. 2001-1 9,145 100 9,145 City of Fullerton Community Facilities District No. 1 11,250 100 11,250 City of Fullerton Community Facilities District No. 2 7,020 100 7,020 Total Overlapping Tax and Assessment Debt 1,380,207$ 201,589$ Overlapping General Fund Debt
Orange County General Fund Obligations 451,165$ 3.315% 14,956$ Orange County Board of Education Certificates of Participation 1 0,860 3.315 360 North Orange County Regional Occupation Program Certificates of Participation 7,790 15.4 1,200 Brea-Olinda Unified School District Certificates of Participation 8,520 0.837 71 Placentia-Yorba Linda Unified School District Certificates of Participation 84,135 5.073 4,268 Anaheim Union High School District Certificates of Participation 29,580 0.011 3 Fullerton Joint Union High School District Certificates of Participation 15,755 51.193 8,065 Fullerton School District Certificates of Participation 2,845 99.819 2,840 Total Overlapping General Fund Debt 610,650$ 31,764$ Overlapping Tax Increment Debt (Successor Agency)
Successor Agency to Brea Redevelopment Agency 77,647$ 3.531% 2,742$ Successor Agency to Fullerton Redevelopment Agency 38,400 100 38,400 Total Overlapping Tax Increment Debt 116,047$ 41,142$ Total Overlapping Debt 274,495$
Total Direct and Overlapping Debt 289,377$
Note: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the city. This schedule taxpayer is a resident, and therefore responsible for repaying the debt, of each overlapping government. ² Includes all long-term debt instruments of the governmental activities, including bonds, notes, loans, and leases Source for overlapping debt: California Municipal Statistics, Inc.
Source for City direct debt: City of Fullerton Administrative Services Department estimates the portion of the outstanding debt of those overlapping governments that is born by the residents and businesses of the City of Fullerton. This process recognizes that, when considering the government's ability to issue and repay long-term debt, 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. ³ Overlapping debt excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and tax allocation bonds and non-bonded capital
the entire debt burden born by the residents and businesses should be taken into account. However, this does not imply that every 143
City of Fullerton
Legal Debt Margin Information
Last Ten Fiscal Years
(in Thousands)
2014 (1) 2015 (1) 2016 (1) 2017 (1) 20 18 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) Debt limit 2,184,298$ 2,311,356$ 2,447,320$ 2,551,702$ 2,690,433$ 2,848,240$ 3,219,618$ 3,219,618$ 3,274,641$ 3,448,604$ Total net debt applicable to limit - - - - - - - - - - Legal debt margin 2,184,298$ 2,311,356$ 2,447,320$ 2,551,702$ 2,690,433$ 2,848,240$ 3,219,618$ 3,219,618$ 3,274,641$ 3,448,604$ Total net debt applicable to the
limit as a percentage of debt lim 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% Legal Debt Margin Calculation for Fiscal Year 2022-23
Assessed value
Add back: exempt real property
Total Assessed Value
Debt limit
(15% of total assessed value)
Debt applicable to limit:
Legal debt margin
Note: Under state finance law, the City of Fullerton's outstanding general obligation debt should not exceed 15 percent of total assessed property value. By law, the general obligation debt subject to the limitation may be offset by amounts set aside for repaying general obligation bonds.
(1) Net Taxable Value was used for the calculation rather than Assessed Value as in previous years. 22,990,691$
3,448,604$
-
3,448,604$
Fiscal Year
22,990,691$
-
144
City of Fullerton
Revenue Bond Coverage
Fiscal Gross
Year Revenue (1) Principal Interest Total Coverage
2016 4,125,954$ 350,000$ 273,663$ 623,663$ 6.62 2017 4,826,465 360,000 263,013 623,013 7.75
2018 3,670,038 370,000 252,063 622,063 5.90
2019 6,036,975 380,000 240,813 620,813 9.72
2020 6,908,323 390,000 231,213 621,213 11.12
2021 14,593,816 250,000 222,313 472,313 30.90
2022 19,634,918 265,000 212,013 477,013 41.16
2023 19,660,261 270,000 201,313 471,313 41.71
(1) All water system net available revenue (operating income adjusted by depreciation expenses) Fiscal Gross
Year Revenue (1) Principal Interest Total Coverage
2014 3,889,609 200,000 343,550 550,800 7.06 2015 N/A - - - N/A
2016 N/A - - - N/A
2017 N/A - - - N/A
2018 N/A - - - N/A
2019 N/A - - - N/A
2020 N/A - - - N/A
2021 N/A - - - N/A
2022 N/A - - - N/A
2023 N/A - - - N/A
(1) All water system net available revenue (operating income adjusted by depreciation expenses) *The bonds were retired in March of 2014
Fiscal Gross
Year Revenue (1) Principal Interest Total Coverage
2014 - 850,000 52,400 902,400 0.00 2015 - 885,000 17,700 902,700 0.00 2016 N/A - - - N/A
2017 N/A - - - N/A
2018 N/A - - - N/A
2019 N/A - - - N/A
2020 N/A - - - N/A
2021 N/A - - - N/A
2022 N/A - - - N/A
2023 N/A - - - N/A
(1) Total Debt Service Fund revenues for Central and East Fulle rton Redevelopment Project Areas. (3) The Redevelopment Agency was dissolved on February 1, 2012. *2003 COP fully retired in FY 14/15
Note- Gross Revenue comes from the ACFR financial statements not the GL 2014 Water Revenue Refunding Bonds
Debt Service Requirements
Last Eight Fiscal Years
2003 Refunding Certificates of Participation (3)
Last Ten Fiscal Years
Debt Service Requirements
Debt Service Requirements
2004 Water Revenue Certificates of Participation
Last Ten Fiscal Years
145
City of Fullerton
Revenue Bond Coverage
Fiscal Gross
Year Revenue (1) Principal Interest Total Coverage
2014 N/A 597,421 1,285,716 1,883,137 N/A
2015 N/A 592,167 1,323,221 1,915,388 N/A
2016 N/A - - - N/A 2017 N/A - - - N/A 2018 N/A - - - N/A 2019 N/A - - - N/A 2020 N/A - - - N/A 2021 N/A - - - N/A 2022 N/A - - - N/A 2023 N/A - - - N/A (1) Total Debt Service Fund revenues for Central and East Fullerton Redevelopment Project Areas. (3) The Redevelopment Agency was dissolved on February 1, 2012. * The bonds were retired in February of 2015.
Last Ten Fiscal Years
1998 Refunding Revenue Bonds (3)
Debt Service Requirements
146
City of Fullerton
Revenue Bond Coverage
Fiscal Gross
Year Revenue (1) Principal Interest Total Coverage
2014 N/A 1,735,000 3,438,852 5,173,852 N/A
2015 N/A 1,765,000 3,362,661 5,127,661 N/A
2016 N/A 3,245,000 3,371,173 6,616,173 N/A
2017 N/A 3,210,000 3,209,063 6,419,063 N/A
2018 N/A 3,285,000 3,046,688 6,331,688 N/A
2019 N/A 3,415,000 2,878,488 6,293,488 N/A
2020 N/A 3,765,000 2,698,953 6,463,953 N/A
2021 N/A - - - N/A 2022 N/A - - - N/A 2023 N/A - - - N/A (1) Total Debt Service Fund revenues for Orangefair, Central, and East Fullerton Redevelopment Project Areas. (3) The Redevelopment Agency was dissolved on February 1, 2012. *This bond is completely defeased with the issuance of the 2020A Tax Allocation Refunding Bonds as of June 30, 2021 Fiscal Gross
Year Revenue (1) Principal Interest Total Coverage
2014 N/A 135,000 13,710 148,710 N/A
2015 N/A 140,000 7,014 147,014 N/A
2016 N/A - - - N/A 2017 N/A - - - N/A 2018 N/A - - - N/A 2019 N/A - - - N/A 2020 N/A - - - N/A 2021 N/A - - - N/A 2022 N/A - - - N/A 2023 N/A - - - N/A (1) Total Debt Service Fund revenues for Orangefair, Central, and East Fullerton Redevelopment Project Areas. (3) The Redevelopment Agency was dissolved on February 1, 2012. * The bonds were retired in FY 14/15
Fiscal Gross
Year Revenue (1) Principal Interest Total Coverage
2014 N/A 135,000 25,034 160,034 N/A
2015 N/A 140,000 17,442 157,442 N/A
2016 N/A 150,000 9,540 159,540 N/A
2017 N/A - - - N/A 2018 N/A - - - N/A 2019 N/A - - - N/A 2020 N/A - - - N/A 2021 N/A - - - N/A 2022 N/A - - - N/A 2023 N/A - - - N/A (1) Total Debt Service Fund revenues for Orangefair, Central, and East Fullerton Redevelopment Project Areas. (3) The Redevelopment Agency was dissolved on February 1, 2012. *The bonds were retired in FY 15/16
Debt Service Requirements
Debt Service Requirements
2005 CRA/ERAF Taxable Revenue Bonds (3)
2006 CRA/ERAF Taxable Revenue Bonds (3)
Last Ten Fiscal Years
2005 Tax Allocation Revenue Bonds (3)
Last Ten Fiscal Years
Last Ten Fiscal Years
Debt Service Requirements
147
City of Fullerton
Revenue Bond Coverage
Fiscal Gross
Year Revenue (1) Principal Interest Total Coverage
2014 N/A 1,380,000 1,422,478 2,802,478 N/A
2015 N/A 1,425,000 1,369,828 2,794,828 N/A
2016 N/A 1,485,000 1,310,707 2,795,707 N/A
2017 N/A 1,545,000 1,245,324 2,790,324 N/A
2018 N/A 1,615,000 1,170,453 2,785,453 N/A
2019 N/A 1,695,000 1,086,554 2,781,554 N/A
2020 N/A 1,780,000 994,045 2,774,045 N/A
2021 N/A - - - N/A 2022 N/A - - - N/A 2023 N/A - - - N/A (1) Total Debt Service Fund revenues for Orangefair and East Fullerton Redevelopment Project Areas. (2) The Redevelopment Agency was dissolved on February 1, 2012. *This bond was completely defeased with the issuance of the 2020B Tax Allocation Refunding Bonds as of June 30, 2021 Fiscal Gross
Year Revenue (1) Principal Interest Total Coverage
2014 N/A 100,000 185,550 285,550 N/A
2015 N/A 105,000 179,050 284,050 N/A
2016 N/A 105,000 172,226 277,226 N/A
2017 N/A 110,000 165,400 275,400 N/A
2018 N/A 115,000 158,250 273,250 N/A
2019 N/A 120,000 150,776 270,776 N/A
2020 N/A 125,000 142,976 267,976 N/A
2021 N/A 125,000 134,850 259,850 N/A
2022 N/A 135,000 125,162 260,162 N/A
2023 N/A 140,000 114,700 254,700 N/A
(1) Total Debt Service Fund revenues for Central and East Fullerton Redevelopment Project Areas. (2) The Redevelopment Agency was dissolved on February 1, 2012.
Fiscal Gross
Year Revenue (1) Principal Interest Total Coverage
2014 N/A 460,000 18,400 478,400 #VALUE!
2015 N/A - - - N/A 2016 N/A - - - N/A 2017 N/A - - - N/A 2018 N/A - - - N/A 2019 N/A - - - N/A 2020 N/A - - - N/A 2021 N/A - - - N/A 2022 N/A - - - N/A 2023 N/A - - - N/A (1) Total Debt Service Fund revenues for Central and East Fullerton Redevelopment Project Areas. (3) The Redevelopment Agency was dissolved on February 1, 2012. * The bonds were fully retired in May of 2014.
Debt Service Requirements
Last Ten Fiscal Years
2010 Tax Allocation Housing Revenue Bonds (2)
Note: The information for the 2015, 2020A, 2020B Tax Allocation RefundingBonds are not included in the statistical section of the City of Fullerton's Annual Comprehensive Financial Report. Effective February 1, 2012 the State of California dissolved all redevelopment agencies, including the Redevelopment Agency of the City of Fullerton. A Successor Agency was set up to handle the ongoing debt service obligations of the former redevelopment agency. The Successor Agency acts in a fiduciary capacity only and is therefore excluded from the government-wide financial statements because any resources of this Agency cannot be used to support the government's programs.
Likewise, the liabilities, including the debt service are not included in the statistical sections.
Debt Service Requirements
Debt Service Requirements
2010 Lease Revenue Bonds - Series A (2)
Last Ten Fiscal Years
2010 Lease Revenue Bonds - Series B (3)
Last Ten Fiscal Years
148
City of Fullerton
Demographic and Economic Statistics
Last Ten Fiscal Years
Per
Personal Capita
Fiscal Income Personal Unemployment
Year Population (1) (in thousands) Income (2)* Rate (3) 2014 140,120 4,089,122 29,183 6.2%
2015 142,457 4,101,586 28,791 5.1%
2016 142,234 4,228,814 29,731 4.6%
2017 144,214 4,311,756 29,898 4.5%
2018 142,824 4,533,852 31,744 3.0%
2019 141,863 4,796,794 33,812 2.9%
2020 139,431 5,058,288 36,278 9.6%
2021 142,732 5,369,372 37,618 8.5%
2022 142,873 6,023,146 42,157 4.3%
2023 142,873 NYA NYA 3.3%
Sources:
(1) State of California - Department of Finance
(2) U.S. Dept. of Commerce - Bureau of Economic Analysis (3) U.S. Dept. of Labor - B ureau of Labor Statistics
(4) 2010 Census
*Based on Orange County personal income data.
NYA = Not Yet Available
149
City of Fullerton
Principal Employers
Current Year and Nine Years Ago
% of Total % of Total
City City
Employer Employees Rank Employment² Employees Rank Employment¹ California State University, Fullerton 3,000 1 4.00% 3,901 1 6.04% Raytheon Systems Co. 1,200 2 1.60% 1,600 3 2.48% St. Jude Medical Center 1,000 3 1.33% 2,234 2 3.46% Chuze Fitness 700 4 0.93%
AJ Kirkwood & Associates, Inc 600 5 0.80%
Albertson's Regional Corporate 400 6 0.53%
Morningside of Fullerton 350 7 0.47%
RPM Transportation 300 8 0.40%
Maury Oglevie 300 8 0.40%
Nordstrom Design Center 250 10 0.33%
Fullerton School District 1,300 4 2.01%
Fullerton College 1,235 5 1.91%
Fullerton Joint Union High School Dist. 870 6 1.35% Alcoa Fastening Systems 750 7 1.16%
City of Fullerton 631 8 0.98%
St. Jude Heritage Health 600 9 0.93%
Kraft Foods 550 10 0.85%
Total 8,100 10.80% 13,671 21.17%
¹Based upon U.S. Census Bureau's American Community Survey's estimate of 64,591 residents employed ²Based upon U.S. Census Bureau's American Community Survey's estimate of 75,000 residents employed Source: Date Axle Reference Solutions © 2023
2023 2014
150
City of Fullerton and Fullerton Successor Agency
Full-Time Equivalent City Employees by Function (1)
Last Ten Fiscal Years
2013-14 2014-15 2015-16 2016-17 2017 -18 2018-19 2019-20 2020-21 2021-22 2022-23 Total Total Total Total Total Total Total Total Total Total Department Positions Positions Positions Positions Positions Position s Positions Positions Positions Positions City Council 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 5.0
City Manager 6.5 6.5 7.0 7.0 6.5 6.5 7.0 7.0 7.0 8.0
Administrative Svcs. 32.3 33.0 33.0 33.0 33.0 33.0 35.0 29.0 30.0 32.0 Human Resources 8.9 8.9 8.9 8.9 8.9 8.9 8.9 9.0 11.0 11.0 Fire 90.0 92.0 92.0 92.0 92.0 89.0 87.0 86.0 87.0 87.0
Police 210.0 211.0 212.0 212.0 21 7.0 218.0 203.0 209.0 209.0 197.0 Community Dev. 27.0 29.0 28.0 28.0 28.0 28.0 30.0 31.0 31.0 31.0 Engineering
Maintenance Svcs.
Public Works¹ 200.0 199.5 200.0 200.0 198.0 198.0 194.0 195.0 192.0 185.0 Parks & Recreation 21.0 22.0 22.0 22.0 21.0 21.0 21.0 17.0 21.0 14.0 Library 23.8 23.8 23.8 23.8 23.8 23.8 23.8 21.8 23.8 20.3 Subtotal 625.5 631.7 632.7 632.7 634.2 6 32.2 615.7 610.8 617.8 590.3 Part-Time Hours 177,294 177,389 165 ,840 165,920 165,255 159,639 160,15 96 8 , 4 1 0 ² 109,127 71,925 Full-Time Equivalents 85.2 85.3 79.7 79.8 79.4 76.7 77.0 32.9 52.5 34.6 TOTAL POSITIONS 710.7 717.0 712.4 712.5 713.6 7 08.9 692.7 643.7 670.3 624.9 ¹ The Engineering and Maintenance Services Departments are now merged into the Public Works Department as of FY 13/14
² Reductions in the non-regular positions due to COVID in FY 20/21 ³ FY 22/23, City Council implemented budget reduction strategies, remvoing unfunded positions (1) Source: City of Fullerton Final Budget
151
City of Fullerton
Elementary, High School, and University Enrollment Information (1) Last Ten Fiscal Years
2013-14 2014-15 2015-16 2016-17
Fullerton Elementary School District 13,801 13,730 13,544 13,700 Fullerton Joint Union High School District 13,969 13,910 13,773 13,664 Fullerton College 18,890 35,335 35,335 23,000
California State University - Fullerton 38,128 38,948 40,235 40,439 Western State University College of Law ² 459 376 0 0
Southern California College of Optometry ³ 391 391 400 544 Hope International University 2,011 1,420 1,438 2,349
Total enrollment in Fullerton's schools
and universities 87,649 104,110 104,725 93,696
¹ Based on average attendance (actual enrollment data is not available) ² Western State University College of Law moved to Irvine during fiscal year 2015-16 ³ Southern California College of Optometry became part of Marshall B. Ketchum University in 2013 (1) Sources: California School Dashboard (CA Dept of Education) California Community Colleges Chancellor's Office
California State University Office of the Chancellor
Data USA - Marshall B. Ketchum University
Hope International University - Registrar’s Office
152
2017-18 2018-19 2019-20 2020-21 2021-22 2022-23
13,700 13,700 13,700 12,852 12,141 11,681
13,649 13,695 13,600 13,630 13,473 13,431
23,000 23,000 23,000 21,785 18,742 18,370
39,343 39,030 39,270 41,408 40,087 39,729
00000 0
500 500 ¹ 500 ¹ 740 ¹ 738 ¹ 1,458 ¹
1,752 1,749 1,784 1,531 1,623 1,442
91,944 91,674 91,854 91,946 86,804 86,111
153
City of Fullerton
Operating Indicators by Function
Last Ten Fiscal Years
Function: 2013-14 2014-15 2015-16 2016-17 2017-18
Police
Calls dispatched 47,292 48,637 50,628 52,527 52,332 Crime reports 16,645 16,925 17,635 18,059 16,346 Moving citations 5,350 5,212 7,573 3,878 4,078 Parking citations 35,371 35,551 37,613 36,658 27,993 Fire
Unit responses 11,646 17,500 18,813 18,250 17,992 Medical calls 9,494 8,201 8,725 8,298 8,088 Annual fire inspections 4,700 4,205 4,437 3,806 3,717 Water
Number of customer accounts 31,544 31,795 31,307 31,427 31,923 Average daily consumption
(millions of gallons) 25.4 22.9 20.9 20.6 23.2 Water samples taken 2,554 4,439 4,597 4,657 4,604 Sewers
Feet of sewer mains root cut/
chemically treated 249,744 209,009 215,312 236,257 * Miles of sewer mains root cut/
hydro jetted - - - - 363 Number of chemically or
mechanically treated sewer
laterals 2,600 2,166 1,711 2,167 2,438 Traffic and General Engineering
Traffic signals maintained 151 150 151 151 153 Infrastructure improvement
projects administered 96 60 80 77 68 Private development
plans reviewed 1,038 2,695 2,500 2,564 2,988 Maintenance
Square ft. graffiti removal 403,016 344,120 316,667 348,336 327,223 Street sweeping miles 38,399 40,504 36,044 36,864 34,870 Trees pruned per year 13,542 13,500 14,975 14,005 8,436 Culture and Recreation
Park event attendance 29,500 39,500 42,000 45,000 49,500 Independ/ Park /Comm. Ctr.
participants 152,000 152,000 170,000 240,000 250,000 Fullerton Museum Center
attendance 23,987 23,987 29,265 21,734 21,435 Sources: City of Fullerton Budget Division and various City departments * Note - As of 7/1/17 sewer mains are root cut/hydro jetted rather than root cut/chemically treated ² As of FY 21/22 Fullerton Museum Center is no longer operated by the City ³ Independence gym has not reopened since COVID
¹ Temporarily remain closed due to COVID in FY 20/21
154
2018-19 2019-20 2020-21 2021-22 2022-23
49,647 69,027 45,174 46,825 46,255 15,363 13,539 12,877 12,960 13,117 2,394 2,462 5,331 1,454 2,354 28,980 22,258 31,352 10,275 49,027 16,132 13,611 13,928 15,580 16,189 8,448 10,300 11,160 9,507 11,097 2,678 3,887 2,905 7,277 2,567 31,913 31,987 31,890 31,107 31,176
20.5 20.1 21.1 20.4 18.0 4,607 3,901 4,099 4,139 4,037 * * * * 11,354
357 279.8 248.2 332.0 253.3 2,222 909 392 1,578 2,425 154 154 154 154 154 56 38 58 62 79 3,023 2,823 2,835 2,906 3,050 365,246 502,178 441,146 634,989 739,811 35,783 32,231 34,321 34,666 34,397 9,587 8,821 13,089 11,479 12,715 57,625 48,900 - 49,400 ¹ 52,000 268,000 244,656 56,224 146,057 ¹ 153,000 ³ 23,328 12,500 - N/A ¹ N/A ² 155
City of Fullerton
Capital Asset Statistics by Function
Last Ten Fiscal Years
Function: 2013-14 2014-15 2015-16 2016-17 2017-18
Public Safety
Police stations 1 1 1 1 1
Number of patrol units 30 31 34 31 33
Fire stations 6 6 6 6 6
Number of ladder trucks 2 2 2 2 2
Number of fire engines 11 11 11 11 11
Highways and streets
Miles of streets 290 290 285 285 285 Traffic Signals 151 150 151 151 153 Streetlights 7,275 7,275 6,900 6,900 6,700 Water
Number of water wells 11 11 11 10 10
Number of reservoirs 15 15 15 15 15
Miles of lines & mains 423 423 423 423 423
Sewer
Miles of sanitary sewers 320.00 322.40 323.30 320.00 325.00 Miles of storm drains 71.20 71.20 71.20 71.20 71.70 Culture and Recreation
Number of recreation and
cultural facilities 67 67 67 67 67
Number of acres for above 683 683 683 683 683
Number of libraries 2 2 2 2 2
Number of library books 241,058 210,597 210,597 210,597 179,914 Sources: City of Fullerton Budget Division and various City departments *The Hunt Library is undergoing a major refurbishment and is currently unavailable to the public. 156
City of Fullerton
Capital Asset Statistics by Function
Last Ten Fiscal Years
2018-19 2019-20 2020-21 2021-22 2022-23
1111 1
32 31 34 35 44
6666 6
2111 2
11 9 9 9 10
285 294 294 298 298
154 154 154 154 154
6,700 6,700 6,700 6,700 6,700
10 10 9 9 9
15 15 15 15 15
423 423 423 423 423
325.00 320.00 320.00 320.00 320.00
71.70 71.70 71.70 71.70 71.70 67 67 61 61 61
683 683 683 683 683
21 * 1 * 1* 1*
212,665 199,196 132,039 168,280 152,924
157
7+,63$*(,17(17,21$//</()7%/$1.
158