Agenda packet, first session — Glendale City Council, December 9, 2025 (part 1 of 2)

A G E N D A

GLENDALE CITY COUNCIL

COUNCIL CHAMBERS
613 E. Broadway, 2nd Floor
Glendale, CA 91206

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PUBLIC COMMENT GUIDELINES
The City Council welcomes public input at City Council meetings. Public input at Council meetings is regulated by the City Council’s Rules of Order, Procedure and Decorum for the Conduct of City Council Meetings as set forth in Resolution No. 25-76, which will be summarized below.

Written Comments and Documents
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Public comments received in writing will NOT be read aloud at the meeting but will be part of the meeting record. Written public comments can be emailed to [email protected], and will be uploaded to the City website as an attachment to the agenda item. When submitting a public comment, please make sure to include the following
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1. Name (optional); and

2. Agenda item to which you are submitting public comment

3. Submit no later than 12:00 p.m. on the day of the City Council meeting. Correspondence received after this time may not be distributed until the following business day.

All documents related to open session items on this agenda that are received less than 72 hours prior to this meeting, and are public records, will be available for review in the Office of the City Clerk, 613 E. Broadway, Room 110, Glendale, CA 91206.

Public Comments During Council Meeting
:

Public Comments during Community Event Announcements, First and Second Periods of Oral Communications and agenda items will be governed as provided in the descriptions for those items on the agenda below. Pursuant to State law, the City Council may not discuss or take action on any item not appearing on the meeting agenda, except that members of the City Council or staff may ask a question for clarification or briefly respond to statements made or questions posed by persons exercising public testimony rights (Government Code Section 54954.2). Staff may be asked to follow up on such items.

Submitting Speaker Cards or Calling In for Public Comment :

Speaker cards must be submitted and telephonic participants must call in and be in the call-in queue as follows:
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Community Event Announcements or First or Second Period of Oral Communications: PRIOR TO the commencement of the specific comment period
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Consent Calendar Items: BEFORE a motion is made on the consent calendar •
Other agenda items, including Action items: PRIOR to the completion of the verbal staff report (unless waived by the Mayor)
Any audio-visual files displayed by speakers must be emailed to the Clerk’s office by 12:00 pm on the day before a Council meeting.

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DECEMBER 9, 2025

ROLL CALL

1. CLOSED SESSION
– 1:00 PM (T o Commence at 6:00 PM
)

2. REGULAR BUSINESS AGENDA
– 6:00 PM
Roll Call
a.

Flag Salute: Council Member
b.

Invocation:

Will be delivered by Elder Hines, missionary for The Church of Jesus Christ of Latter-Day Saints
c.

Report of the City Clerk, re: Posting of Agenda. The Agenda for the December 9, 2025 Regular Meeting of the Glendale City Council was Posted on December 4, 2025, on the Bulletin Board Outside City Hall.

3. PRESENTATIONS AND APPOINTMENTS

4. CONSENT ITEMS
(Including Minutes)
The following are routine and may be acted upon by one motion. Any Member of Council or the audience requesting separate consideration may do so by making such request before motion is proposed.
a.

City Clerk, re: Minutes of the City Council Meeting of November 18, 2025 b.

Public Works, re:

Adopt the Plans and Specification for the West Glendale Americans with Disabilities Act (ADA) Curb Ramp Installation and Sidewalk Repair Program Phase 2

1. Resolution adopting the Plans and Specification for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2, Specification No. 4007 and Plan No. 1-3135; and directing the City Clerk to Advertise for Bids c.

Finance, re:

Authorize Professional Services Agreement (PSA) with Eide Bailly LLP to be the City’s External Auditor for fiscal years ending 2025-26 to 2030-31

1. Motion to Authorize the City Manager, or his designee, to enter into and execute a Professional Services Agreement (PSA) with Eide Bailly LLP to be the City’s external auditor to perform the annual audit of the financial records of the City for fiscal years ending 2025-26 through 2027-28, with the option to extend the agreement for three additional fiscal years
d.

Finance, re: Authorize the Escheatment of Unclaimed Checks & Deposits

1. Motion to escheat unclaimed checks and deposits held by various City funds pursuant to Government Code Sections 50050-50057
e.

Libraries, Arts, and Culture, re:

Donation of surplus furniture to the Glendale
Library, Arts & Culture Trust

1. Resolution authorizing the donation of surplus furniture to the Glendale Library, Arts & Culture Trust
f.

Public Works, re: Award Construction Contract for Glorietta Park Field Light Replacement Project

1. Motion authorizing the City Manager or his designee to execute a construction contract with Ace Electric, Inc., for the Glorietta Park Field Light Replacement Project, Specification

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No. 4025, in the amount of $246,100, plus a 10% contingency of $24,610. g.

Public Works, re: Shoseian Tea House Rehabilitation Project

1. Motion authorizing the City Manager or his designee to execute a construction contract with MODAA, Inc. (MODAA), for the Shoseian T ea House Rehabilitation Project, Specification No. 4024, in the amount of $211,000, plus a 10 percent contingency of $21,100

2. Resolution of appropriation to appropriate funds for the Shoseian T ea House Rehabilitation Project
h.

Finance, re:

Development Impact Fees Annual Report

1. Resolution to accept the City of Glendale Annual Development Impact Fee Report for the fiscal year ended June 30, 2025. Development Impact Fee Disclosure Information for the Parks & Libraries Development Impact Fee and Housing Development Impact Fee for the Fiscal Year ended June 30, 2025, pursuant to California Government Code (GC) Section 66006
i.

Libraries, Arts, and Culture, re: Library Connection @ Adams Square at 1100 Chevy Chase Drive Lease Agreement Renewal

1. Motion approving fourth amendment to extend the lease agreement with Neighborhood Legal Services for Library Connection @ Adams Square

5. CITY COUNCIL/STAFF COMMENTS
(Including reports from conferences and regional
meetings)

6. COMMUNITY EVENT ANNOUNCEMENTS
(3-minutes per speaker)
Members of the public will be permitted to announce upcoming events taking place in the community.

7. FIRST PERIOD OF ORAL COMMUNICATIONS
(Maximum 3 minutes per speaker, 30-minute
aggregate speaking time limit)
Members of the public may address the Council on agenda items or non-agenda items within the City Council’s subject matter jurisdiction. If a speaker addresses the Council on an agenda item during the First Period of Oral Communications, they may not speak again when the agenda item is called. A speaker who addresses the Council on non-agenda items during the First Period of Oral Communications may not speak during the Second Period of Oral Communications.

8. ADOPTION OF ORDINANCES

9. ACTION ITEMS
a.

City Attorney, re: Glendale Municipal Code Amendment Pertaining to Selection of the Mayor

1. Introduction of Ordinance of the Council of the City of Glendale, California Amending Section 2.04.020 of the Glendale Municipal Code, 1995, Relating to the Mayoral Selection Process
b.

Finance, re: FY 2024-25 Annual Comprehensive Financial Report

1. Motion to accept City of Glendale's Annual Comprehensive Financial Report, Report on Internal Control over Financial Reporting, and Communication with Those Charged with Governance for the fiscal year ended June 30, 2025 c.

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Finance, re:

Fiscal Year 2025-26 First Quarter Financial Status Report, and Classification and Compensation Alignment

1. Motion to note and file the Financial Status Report for the year ended June 30, 2025

2. Motion to note and file the Financial Status Report for the period ending September 30, 2025

3. Resolution Providing for the Establishment of Classification Titles and Compensation for Employees of the City of Glendale Covered by the Glendale Management Association Memorandum of Understanding, Including Employee Relations Exempt Classifications

4. Resolution Providing for the Establishment of Classification Titles and Compensation for Employees of the City of Glendale Covered by the Glendale City Employees’ Association Memorandum of Understanding, Including Confidential and Hourly Classifications

5. Resolution Providing for the Establishment of Classification Titles and Compensation for Employees of the City of Glendale Represented by the International Brotherhood of Electrical Workers, Local 18

6. Resolution providing for Supplementary Benefits and Compensation for Certain Officers and Executive Employees of the City of Glendale to Supplement the Classification and Compensation Resolution of Said City

10. HEARINGS

11. REPORTS - INFORMATION

12. WRITTEN COMMUNICATIONS

13. DISCUSSION OF COUNCILMEMBER FUTURE AGENDA REQUESTS
a.

Councilmember Asatryan’s request to agendize discussion of the formation of an Ethics Commission
b.

Councilmember Gharpetian’s request to agendize a discussion on capturing detailed meeting minutes instead of action minutes
c.

Request by Councilman Gharpetian to agendize a discussion of the removal of certain City-owned parking lots from consideration in the City Owned Residential Overlay (CORO) in the General Plan Land Use Element Update and Surplus Lands Act (SLA) approvals
d.

Request by Mayor Najarian to agendize review and possible amendments of Title

1.10 of the Glendale Municipal Code regarding campaign contributions and conflict rules pertaining to members of City Council

14. SECOND PERIOD OF ORAL COMMUNICATIONS
Discussion is limited to items NOT a part of this agenda. Each speaker is allowed 5 minutes.

Council may question or respond to the speaker, but there will be no debate or decision. The City Manager may refer the matter to the appropriate department for investigation and report.

15. NEW BUSINESS

16. ADJOURNMENT

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M I N U T E S

GLENDALE CITY COUNCIL

COUNCIL CHAMBERS
613 E. Broadway, 2nd Floor Glendale, CA 91206
NOVEMBER 18, 2025
ROLL CALL – Absent: Asatryan

1.CLOSED SESSION – 3:43 PM
a. Conference with Legal Counsel – Existing Litigation: Central BWB LLC v.

City of Glendale et al., L.A.S.C. Case No. 25STCP01018; Central BWB LLC v. City of Glendale et al., L.A.S.C. Case No. 25STCP01144 b. Conference with Legal Counsel – Anticipated Litigation. Significant exposure to litigation pursuant to subdivisions (d)(2) and (e)(2) of Government Code Section 54956.9: One Potential Case
c. Conference with Legal Counsel - Existing Litigation: Khanlian v. City of Glendale, L.A.S.C. Case No. 23GDCV01624
City Attorney Michael Garcia stated he does not anticipate Council reporting out on any Closed Session item.

Council recessed to Closed Session at 3:44 PM.

2.REGULAR BUSINESS AGENDA – 6:04 PM
Roll Call – All Present
a. Flag Salute: Mayor Najarian
b. Invocation: Delivered by Archbishop Hovnan Derderian, Western Diocese of the Armenian Church
c. Report of the City Clerk, re: Posting of Agenda. The Agenda for the November 18, 2025, Regular Meeting of the Glendale City Council was Posted on November 13, 2025, on the Bulletin Board Outside City Hall.

Item 4 was read into the record and considered by Council next.

3.PRESENTATIONS AND APPOINTMENTS
a. Legislative Update by California State Senator Sasha Renée Pérez Presentation:

State Senator Sasha Renée Pérez
Public Speakers:

Beth Brooks
Glendale Yimby
Ejmin Hakobian
Mike Mohill
Councilmember Brotman stepped away at 7:23 PM and returned at 7:25 PM. 6 of 572

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Agenda out of order. Item 5 was read into the record and considered by Council next.

4.CONSENT ITEMS (Including Minutes)
The following are routine and may be acted upon by one motion. Any Member of Council or the audience requesting separate consideration may do so by making such request before motion is proposed.

Items 4a, 4b, and 4d were pulled from the consent calendar for separate consideration. a. City Clerk, re: Minutes of the City Council Meeting of October 28, 2025 and the Special City Council Meeting of November 4, 2025 Public Speaker:

Herbert Molano
Staff Comments:

Roubik Golanian, City Manager
Michael Garcia, City Attorney
Dr. Suzie Abajian, City Clerk
Moved: Brotman Seconded: Kassakhian
Vote as Follows:

Ayes: Asatryan, Brotman, Gharpetian, Kassakhian, Najarian Noes: None

Absent: None
Abstain: None
b. Glendale Water and Power, re: Glendale Water and Power (GWP) Power Source Disclosure Report and Power Content Label for Calendar Year 2024
Public Speakers:

Jackie Gish

1. Motion to Note and File the GWP Power Disclosure Report and Power Content Label for Calendar Year 2024
Moved: Brotman Seconded: Gharpetian
Vote as Follows:

Ayes: Asatryan, Brotman, Gharpetian, Kassakhian, Najarian Noes: None

Absent: None
Abstain: None
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c. Public Works, re: Dedication and Acceptance of city property for public street purposes into the City Street System and Transfer of Miscellaneous Transfer Drain No. 1829 to the Los Angeles County Flood Control District

1. Resolution [25-160] Dedicating a Portion of City-owned Property at San Fernando Road and Grandview Avenue for Public Street Purposes and Accepting the same into the City Street System

2. Resolution [25-161] to Transfer and Convey MTD No. 1829 to the District for Ownership, Operation, and Maintenance
Moved: Asatryan Seconded: Gharpetian
Vote as Follows:

Ayes: Asatryan, Brotman, Gharpetian, Kassakhian, Najarian Noes: None

Absent: None
Abstain: None
d. Public Works, re: Award Contract for Citywide Facility Painting Project Public Speakers:

Allan Durham
Staff Comments:

Roubik Golanian

1. Motion authorizing the City Manager or his designee to execute a construction contract with Fresh Style Painting, for the Citywide Facility Painting Project, Specification No. 3997, in the amount of $78,000, plus a 10% reserve for contingencies of $7,800
Moved: Kassakhian Seconded: Brotman
Vote as Follows:

Ayes: Asatryan, Brotman, Gharpetian, Kassakhian, Najarian Noes: None

Absent: None
Abstain: None
e. Community Services and Parks, re: Acceptance and Appropriation of Community Impact Arts Grant (CIAG) Program Funds for the 2025 Summer Concerts in the Park and Theater at the Park Series

1. Motion accepting Community Impact Arts Grant (CIAG) program funds in the amount of $5,900 from the Los Angeles County Department of Arts and Culture for the 2025 Summer Concerts in the Park series and Theater at the Park; and authorizing the City Manager or a designee to execute all agreements, certifications, and documents necessary to accept and implement the funds
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2. Resolution [25-162] of Appropriation to appropriate $5,900 in CIAG program funds from the Los Angeles County Department of Arts and Culture for the 2025 Summer Concerts in the Park and Theater at the Park series Moved: Asatryan Seconded: Gharpetian
Vote as Follows:

Ayes: Asatryan, Brotman, Gharpetian, Kassakhian, Najarian Noes: None

Absent: None
Abstain: None
Agenda out of order. Item 3 was read into the record and considered by Council next.

5.CITY COUNCIL/STAFF COMMENTS (Including reports from conferences and regional meetings)
Councilmember Asatryan stepped away at 7:26 PM and returned at 7:30 PM.

Councilmember Gharpetian shared that he attended the Chevy Chase Country Club Centennial and the Veteran’s Day event. He noted that he is still waiting for a memo or report regarding both the condominium fee structure and a possible test case, and added that he would also like a memo on SB 79. Councilmember Gharpetian asked when Metro could come to present on the Bus Rapid Transit (BRT) project.

Councilmember Kassakhian congratulated the Chevy Chase Country Club on its 100th anniversary. He shared that he attended and served as the emcee for an event for the Verdugo Hills Council of the Boy Scouts. He noted receiving several emails regarding traffic calming measures on Arden Avenue between Pacific and Central and asked that Council and staff look into the matter. He wished everyone an early Happy Thanksgiving.

As the holiday shopping season approaches, he expressed interest in the City promoting local shopping in Glendale, noting that other cities have implemented similar programs.

Councilmember Asatryan thanked staff for organizing the Veteran’s Day event. She shared that at yesterday’s Burbank–Glendale–Pasadena Airport Authority meeting, an agenda item addressed an advertising contract. She proposed that each of the three cities receive equal advertising space and requested guidance from staff on how to properly structure this for Glendale.

Councilmember Asatryan stated that she wished to address an issue that has caused significant disruption to her personally, to small business owners in the city, and to the work of the Council. She noted that for the past three years she has been the subject of repeated disinformation and false accusations from a small group of individuals. She referenced a recent incident in which one of those individuals, a person who has announced his candidacy for the 2026 Council race, publicly accused her of corruption and filed a police report. Councilmember Asatryan explained that to avoid any perception of conflict of interest, the report was forwarded to an independent public integrity unit, which formally rejected the allegations and determined they did not warrant an 9 of 572

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investigation. Asatryan stated that although the accusations were baseless, they had nonetheless caused reputational harm and disruption to her, to staff, and material damage to local small businesses mentioned in the claims. Councilmember Asatryan described the matter as part of a broader pattern of misinformation. She affirmed her commitment to continue serving with transparency, integrity and accountability while also protecting her name, her work and the people harmed by these false narratives and stated that she has retained legal counsel.

Councilmember Brotman thanked Councilmember Asatryan for her statement. He wished everyone a Happy Thanksgiving. He announced that unfortunately he will miss the Christmas tree lightning as he will be traveling.

City Manager Golanian stated Council is dark next week.

Mayor Najarian shared that the Americana will be hosting a Tree Lighting event on Monday, November 24, 2025, at 5:30 PM. He requested that the City Manager and Police Chief cost out the policing and other municipal services used for the recent No Kings protest, and stated that he would then consult with counsel regarding requesting reimbursement from the event organizers for those costs. Regarding the Bus Rapid Transit project, he detailed the steps he took to determine whether he had a conflict of interest while serving on the Metro Board, and it was determined that he did not. He also shared that there is a Master Cooperative Agreement that Glendale has not yet signed, but that cities along the BRT route that do sign would be reimbursed by Metro for city preparation costs, including staff time.

City Manager Golanian stated that the City is working with Metro staff and the City Attorney’s Office to finalize the language of the Master Cooperative Agreement, and that it will be brought to Council within the next couple of months.

Mayor Najarian also shared highlights from a nine-day trip to visit Glendale’s Sister Cities in Korea, noting that the trip was taken at no expense to Glendale taxpayers or any Glendale fund. He stated that he asked staff to prepare a recognition ceremony to acknowledge the success of diplomacy displayed by Japan and Korea, which are home to Glendale’s Sister Cities.

Director of Community Development Bradley Calvert presented we are nearing the grand opening of the Pioneer Village, and that applications will be open from November 27 to December 11, 2025. He provided website information and that there are 340 units, 92 of which are reserved for seniors. The lottery will be on December 18, 2025. Director Calvert also warned the community, particularly permit applicants, about an alarming email scam in which residents receive fraudulent emails asking for wire transfers. He stated all official emails from the Community Development Department will end in “@glendaleca.gov” and stated if anyone has fallen for the scam to contact the Glendale Police Department at (818) 548-4911.

Mayor Najarian raised concerns about potential scams related to the affordable housing Pioneer Village project, specifically instances in which residents may be asked to pay money to have their application selected. Director Calvert clarified that applications are handled by a third party and stated that anyone contacted regarding a possible scam should notify the Police Department or the Housing Division. Councilmember Asatryan added that it would be helpful to send text messages and emails to individuals on the 10 of 572

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Section 8 list in various languages. Director Calvert added that flyers will also be distributed in multiple languages, both in print and via email.

6.COMMUNITY EVENT ANNOUNCEMENTS (3-minutes per speaker) Members of the public will be permitted to announce upcoming events taking place in the community.

Jackie Gish

7.FIRST PERIOD OF ORAL COMMUNICATIONS (Maximum 3 minutes per speaker, 30- minute aggregate speaking time limit)
Members of the public may address the Council on agenda items or non-agenda items within the City Council’s subject matter jurisdiction. If a speaker addresses the Council on an agenda item during the First Period of Oral Communications, they may not speak again when the agenda item is called. A speaker who addresses the Council on non- agenda items during the First Period of Oral Communications may not speak during the Second Period of Oral Communications.

Noraiz Harutyunian
Mike Mohill
Tony Passarella
Herbert Molano
Greg Astorian
Nick Doom
Patrick Masihi
Ejmin Hakobian
Ramy
Thingus
Staff Comments:

Roubik Golanian, City Manager
Michael Garcia, City Attorney
Daniel Hernandez, Director, Public Works Department
Councilmember Asatryan stepped away at 8:17 PM and returned at 8:23 PM.

Councilmember Brotman stepped away at 8:35 PM and returned at 8:37 PM.

8.ADOPTION OF ORDINANCES
a. Management Services, re: Local Amendments to the 2026 Edition of the California Building and Energy Code to require projects in single-family homes, duplexes and townhomes involving replacement or alteration (but not repair) of an existing air conditioning system or installation of new air conditioning systems to include either a heat pump space conditioner as the primary heating system, or install specific energy efficiency measures in addition to a new air conditioner
Staff Comments:

Roubik Golanian, City Manager
Bradley Calvert, Director, Community Development Department 11 of 572

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Public Speakers:

Mike Mohill
Ejmin Hakobian
Beth Brooks
Councilmember Gharpetian stepped away at 8:39 PM and returned at 8:41 PM.

1. Adoption of Ordinance [6044] of the Council of the City of Glendale, California Amending the 2026 Glendale Building and Safety Code, Volume IX (Green Building Standards) to Require Energy Conservation Measures for Air Conditioner Alterations, Replacements and Installations in Existing Single- Family Residential Buildings, and Required Findings Related Thereto (Brotman, 11/04/25)
Moved: Brotman Seconded: Kassakhian
Vote as Follows:

Ayes: Asatryan, Brotman, Kassakhian
Noes: Gharpetian, Najarian

Absent: None
Abstain: None

9.ACTION ITEMS
Agenda out of order. Item 9b was read into the record and considered by Council next.
a. City Attorney, re: Glendale Municipal Code Amendment Pertaining to Selection of the Mayor

1. Introduction of Ordinance of the Council of the City of Glendale, California Amending Section 2.04.020 of the Glendale Municipal Code, 1995, Relating to the Mayoral Selection Process
With no objection Council decided to move item 9a to the next City Council meeting on December 2, 2025.
b. Public Works, re: Adopt 2025 Glendale Roadway Design Policy Staff Comments:

Roubik Golanian, City Manager
Daniel Hernandez, Director, Public Works Department
Pastor Casanova, Principal Traffic Engineer, Public Works Department Presentation:

Arek Harmandayan, Senior Traffic Engineer, Public Works Department 12 of 572

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Public Speakers:

Beth Brooks
Councilmember Asatryan stepped away from the meeting during the staff presentation and returned at 9:14 PM.

Councilmember Asatryan stepped away during staff comments and returned at 10:01 PM.

1. Motion to adopt the 2025 Glendale Roadway Design Policy Moved: Brotman Seconded: Asatryan
Vote as Follows:

Ayes: Asatryan, Brotman, Gharpetian, Kassakhian, Najarian Noes: None

Absent: None
Abstain: None
c. Community Services and Parks, re: Wilson Mini Park Playground Replacement Project
Staff Comments:

Roubik Golanian, City Manager
Presentation:

Onnig Bulanikian, Director, Community Services & Parks Department Public Speakers:

Mike Mohill

1. Motion to approve the final design for the Wilson Mini Park playground

2. Resolution [25-163] to dispense with competitive bidding for the purchase of playground equipment and authorize the Deputy Director of Finance – Purchasing or a designee to execute a Purchase Order with KOMPAN California, Inc. (KOMPAN) for the Wilson Mini Park Playground Replacement Project in the amount of $246,597.68, plus a 10% contingency of $24,659.68, for a total amount not to exceed $271,257.36
Moved: Gharpetian Seconded: Brotman
Vote as Follows:

Ayes: Asatryan, Brotman, Gharpetian, Kassakhian, Najarian Noes: None

Absent: None
Abstain: None
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d. Community Services and Parks, re: Elk Mini Park Playground Replacement Project
Staff Comments:

Roubik Golanian, City Manager
Presentation:

Onnig Bulanikian, Director, Community Services & Parks Department

1. Motion to approve the final design for the Elk Mini Park playground

2. Resolution [25-164] to dispense with competitive bidding for the purchase of playground equipment and authorizing the Deputy Director of Finance – Purchasing or a designee to execute a Purchase Order with Great Western Recreation for the Elk Mini Park Playground Replacement Project in the amount of $369,839.00, plus a 5% contingency of $18,491.95, for a total amount not to exceed $388,330.95
Moved: Kassakhian Seconded: Gharpetian
Vote as Follows:

Ayes: Asatryan, Brotman, Gharpetian, Kassakhian, Najarian Noes: None

Absent: None
Abstain: None

10.HEARINGS
a. Community Development, re: 1855 Verdugo Knolls Drive: Consideration of Glendale Register Nomination and Request for a Mills Act Historic Property Contract
Councilmember Gharpetian stepped away at 10:21 PM and returned at during the staff presentation.

Mayor Najarian opened the hearing at 10:21 PM and closed it at 10:31 PM.

Staff Comments:

Roubik Golanian, City Manager
Jay Platt, Principal Planner, Community Development Department Presentation:

Ani Mnatsakanyan, Planner, Community Development Department Public Speakers:

Byron Taylor

1. Resolution [25-165] to designate the residential property at 1855 Verdugo Knolls Drive as a historic resource in the Glendale Register of Historic 14 of 572

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Resources and authorize the City Manager to enter into a Mills Act Historical Property Contract with the property owner
Moved: Gharpetian Seconded: Asatryan
Vote as Follows:

Ayes: Asatryan, Brotman, Gharpetian, Kassakhian, Najarian Noes: None

Absent: None
Abstain: None

2. Motion to deny the request of the property owner to designate the residential property at 1855 Verdugo Knolls Drive as a historic resource in the Glendale Register of Historic Resources
This motion was not adopted.
b. Community Development, re: 1502 Royal Boulevard: Consideration of Glendale Register Nomination and Request for a Mills Act Historic Property Contract
Mayor Najarian opened the hearing at 10:32 PM and closed it at 10:45 PM.

Staff Comments:

Roubik Golanian, City Manager
Presentation:

Jay Platt, Principal Planner, Community Development Department Public Speakers:

Byron Taylor
Allan Durham

1. Resolution [25-166] to designate the residential property at 1502 Royal Boulevard as a historic resource in the Glendale Register of Historic Resources and authorize the City Manager to enter into a Mills Act Historical Property Contract with the property owner
Moved: Kassakhian Seconded: Gharpetian
Vote as Follows:

Ayes: Asatryan, Brotman, Gharpetian, Kassakhian, Najarian Noes: None

Absent: None
Abstain: None

2. Motion to deny the request of the property owner to designate the residential property at 1502 Royal Boulevard as a historic resource in the Glendale Register of Historic Resources
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This motion was not adopted.

Item 13b was read into the record and considered by Council next.

11.REPORTS - INFORMATION

12.WRITTEN COMMUNICATIONS

13.DISCUSSION OF COUNCILMEMBER FUTURE AGENDA REQUESTS
a. Councilmember Asatryan’s request to agendize a discussion of the formation of an Ethics Commission
With no objection Council decided to move item 13a to the next City Council meeting on December 2, 2025.
b. Councilmember Brotman’s request to agendize a discussion on a stay on code enforcement of parking pads in front yard setbacks Staff Comments:

Roubik Golanian, City Manager
Michael Garcia, City Attorney
Moved: Brotman Seconded: Kassakhian
Vote as Follows:

Ayes: Asatryan, Brotman, Gharpetian, Kassakhian
Noes: Najarian

Absent: None
Abstain: None

14.SECOND PERIOD OF ORAL COMMUNICATIONS
Discussion is limited to items NOT a part of this agenda. Each speaker is allowed 5 minutes. Council may question or respond to the speaker, but there will be no debate or decision. The City Manager may refer the matter to the appropriate department for investigation and report.

15.NEW BUSINESS

16.ADJOURNMENT – 10:57 PM
Moved: Asatryan Seconded: Brotman
Mayor of the City of Glendale
City Clerk of the City of Glendale
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CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Adopt the Plans and Specification for the West Glendale Americans with Disabilities Act (ADA) Curb Ramp Installation and Sidewalk Repair Program Phase 2. 1) Resolution adopting the Plans and Specification for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2, Specification No. 4007 and Plan No. 1-3135; and directing the City Clerk to Advertise for Bids.

COUNCIL ACTION
Item Type: Consent Calendar
Approved for December 9, 2025 calendar

EXECUTIVE SUMMARY
The construction plans and specification have been completed for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2. This project will repair damaged sidewalk and other pedestrian infrastructure to further improve safety and accessibility. The intent of this item is for the City Council to adopt the project plans and specification and authorize the City Clerk to advertise for bids.

RECOMMENDATION
Approve the resolution to adopt the plans and specification for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2, and direct the City Clerk to Advertise for Bids.

ANALYSIS
As part of the Public Works Department’s ongoing efforts to improve the condition of the city’s sidewalks and pedestrian safety and accessibility, the plans and specification have been prepared for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2.

The project locations for the improvements are Maintenance Districts 10 and 11. The project scope of work includes the following:
Selective removal, repair, and reconstruction of damaged curbs, gutters, sidewalks, driveways, cross gutters, and alley aprons;
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Selective removal, repair, and reconstruction of damaged asphalt and Portland cement concrete pavements;
Installation of new ADA compliant curb ramps where none existed; and Modification and reconstruction of existing ramps to meet current ADA standards.

To ensure competitive bids, the city will advertise the project on multiple plan holders’ websites, which publish project bidding documents, distribute the information to their extensive network of contractors, and construction industry contacts.

The project will also be advertised in a local newspaper, the Glendale Independent, prior to bid opening, as well as on Bidnet Direct, which is a web-enabled data service to the public sector, for the dissemination of the building and construction project proposals to their large number of member contractors and consultants. Finally, the project bidding documents will also be posted on the city’s website.

The construction of this project is anticipated to begin in May 2026 and is scheduled for completion by December 2026.

STAKEHOLDERS/OUTREACH
The contractor will be responsible for distributing two distinct door hangers to the affected addresses. One set of door hangers will be provided two weeks prior to the start of any construction activity within the project area, while the second set will be distributed three days before construction begins.

Furthermore, outreach on this project continues to occur through social media and a dedicated project website that is hosted through the City of Glendale domain. The website familiarizes the public with the project and the project team, explains the scope of work and project locations, and provides the public with staff contact information for questions, discussion, and/or input.

FISCAL IMPACT
There is no fiscal impact associated with this report. The current Engineer’s Estimate for the construction of this project is $6,000,000, which was not included as part of the FY 2025-26 budget. Therefore, staff will be requesting for new appropriation from the San Fernando Corridor Tax Share Fund (4100) at the time of the contract award based on the lowest responsive bid received from a responsible contractor.

The San Fernando Corridor Tax Share Fund is designated for improvements to San Fernando Road and its surrounding streets. This project qualifies for funding under this program as the proposed streets are located in the eligible area.

ENVIRONMENTAL REVIEW (CEQA/NEPA)
The Project is categorically exempt from environmental review because of CEQA Guidelines §§ 15301
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CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.

ALTERNATIVES TO STAFF RECOMMENDATION
Do not approve the resolution adopting the plans and specifications for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2. Doing so, however, will not improve the condition of the city sidewalks.

ADMINISTRATIVE ACTION
Submitted by:

Daniel Hernandez, Director of Public Works
Prepared by:

Huang Zheng, P.E., Civil Engineer II
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
Exhibit 1: Project Location Map
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RESOLUTION NO. __________

A RESOLUTION OF THE COUNCIL OF THE CITY OF GLENDALE, CALIFORNIA

ADOPTING THE PLANS AND SPECIFICATION FOR THE

WEST GLENDALE AMERICANS WITH DISABILITIES ACT (ADA) CURB RAMP INSTALLATION AND SIDEWALK REPAIR PROGRAM PHASE 2, SPECIFICATION NO. 4007 AND PLAN NO. 1-3135, AND DIRECTING THE CITY CLERK TO ADVERTISE FOR BIDS.

BE IT RESOLVED BY THE COUNCIL OF THE CITY OF GLENDALE:

SECTION 1.The Plans and Specification on file in the City Clerk’s office for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2, including the various documents incorporated therein, are hereby approved, adopted, designated and shall hereafter be known as Specification No. 4007 and Plan No. 1- 3135.

SECTION 2.The City Clerk is hereby directed to advertise for bids for the work, equipment and materials described in these Plans and Specification adopted by this Resolution.

Adopted this _____ day of ____________, 2025.
____________________________
Mayor, City of Glendale
ATTEST:
__________________________
City Clerk
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STATE OF CALIFORNIA )

COUNTY OF LOS ANGELES )

CITY OF GLENDALE )
I, Suzie Abajian, Ph.D., City Clerk of the City of Glendale, certify that the foregoing Resolution No. _____________ was adopted by the Council of the City of Glendale, California, at a regular meeting held on the _____ day of _________________, 2025, the same was adopted by the following vote:

Ayes:

Noes:

Absent:

Abstain:
___________________________
City Clerk
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N
GLENOAKS BLVD.

GRANDVIEW AVE.

GLENOAKS BLVD.

SAN FERNANDO RD.

FLOWER ST.

SAN FERNANDO RD.

DANA ST.

STANDARD AVE.HALE ST.

AIR WY.

GRAND CENTRAL AVE.

JUSTIN AVE.

RUBERTA AVE.

PAULA AVE.

HAZEL ST.

CIRCLE SEVEN
TRUITT
ST.

ARISTO
ST.

BLOSSOM
ST.

DAVIS AVE.

COSMIC WY.

ALLEN AVE.

LINDEN AVE.

ELM AVE.

IRVING AVE.

WESTERN AVE.

THOMPSON AVE.

COSMIC WY.

THOMPSON AVE.

RAYMOND AVE.

WEST GLENDALE CURB RAMP INSTALLATION,
SIDEWALK REPAIR PROGRAM PHASE 2
LEGEND

PROJECT LOCATIONS

CITY BOUNDARY
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25-88989

CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Authorize Professional Services Agreement (PSA) with Eide Bailly LLP to be the City’s External Auditor for fiscal years ending 2025-26 to 2030-31

COUNCIL ACTION
Item Type: Consent Calendar
Approved for December 9, 2025 calendar

EXECUTIVE SUMMARY
Pursuant to Article VI, Section 16 of the Charter, the City is required to engage a certified public accounting firm to perform an annual audit of the financial records and render a report to the City Council. The California Government Code 12410.6 states that the lead audit partner of a public accounting firm shall not be employed by a local agency for more than six consecutive fiscal years. Anticipating the FY 2024-25 would be the last of the six-year period with the current lead audit partner, a request for proposal (RFP) was issued in May 2025, and after several months’ evaluation among Finance staff, the City’s Principal Internal Auditor and the Chairperson of the City’s Audit Committee, the recommendation of selecting Eide Bailly LLP to be the City’s next external audit firm was presented at the Audit Committee meeting on October 30, 2025.

The Audit Committee approved the staff’s recommendation at the meeting. 23 of 572

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RECOMMENDATION
It is requested that the City Council to authorize the City Manager, or his designee, to enter into and execute a Professional Services Agreement (PSA) with Eide Bailly LLP to be the City’s external auditor to perform the annual audit of the financial records of the City for fiscal years ending 2025-26 through 2027-28, with the option to extend the agreement for three additional fiscal years. The fees for fiscal year 2025-26 are $128,250, for fiscal year 2026-27 are $113,250, for fiscal year 2027-28 are $119,250, for fiscal year 2028-29 are $132,515, for fiscal year 2029-30 are $117,825, and for fiscal year 2030-31 are $120,182. With the contingency reserve (5%) of $36,564, the total cost is up to $767,836 for the audits of six fiscal years.

ANALYSIS
Pursuant to Article VI, Section 16 of the Charter, the City is required to engage a certified public accounting firm to perform an annual audit of the financial records and render a report to the City Council. White Nelson Diehl Evans LLP was selected in February 2020 as the City’s independent auditor for three fiscal years, with an option for three additional years. In November 2020, White Nelson Diehl Evans LLP merged with CliftonLarsonAllen LLP (CLA), and CliftonLarsonAllen LLP assumed all the duties, responsibilities, rights and benefits of the Professional Services Agreement from White Nelson Diehl Evans LLP. CliftonLarsonAllen LLP is in the process of completing the City’s audit for the fiscal year ended 2024-25, which was the last year of their agreement.

The Government Code 12410.6 states the lead audit partner of a public accounting firm shall not be employed by a local agency for more than six consecutive fiscal years.

Anticipating the FY 2024-25 would be the last of the six-year period with CLA, Finance department issued an RFP in May 2025. The RFP review process involved key staff from the Finance Department, the City’s Principal Internal Auditor, and the Chairperson of the City’s Audit Committee. After careful review of the qualifications and fee structure of the proposals, the recommendation of selecting Eide Bailly LLP as the City’s next external auditors was presented at the Audit Committee meeting on October 30, 2025.

The Audit Committee approved the staff’s recommendation at the meeting.

If approved by the City Council, Eide Bailly LLP will perform the following audits:

Annual Audits:
Audit of Annual Comprehensive Financial Report (ACFR)
Audit of Single Audit Report,
Audit of Water and Power Financial Report
Audit of Housing Successor Annual Report Regarding the Low and Moderate Income Housing Asset Fund (LMIHAF)
Audit of Real Estate Assessment Center (REAC) Financial Assessment Subsystem (FASS-PH) Annual Report
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Once during the agreement period for FY2027-28 (required once every ten years):
Perform agreed-upon procedures on the application of the requirements of the Federal Transit Administration (FTA) – The National Transit Database (NTD) audit
Up to twice during the agreement period for FY 2025-26 and FY 2028-29 (required once every three years):
Audit of Los Angeles County Flood Control District’s Safe Clean Water Program funds – Measure W audit
RFP Selection Process
Finance staff developed an RFP that was sent to fifteen accounting firms with expertise in auditing municipalities in May 2025 and received five responses in June 2025. The five firms that submitted their proposals are listed below in alphabetical order:
CliftonLarsonAllen LLP
Eide Bailly LLP
LSL LLP
Macias Gini & O’Connell LLP
The Pun Group LLP
The External Auditor Selection Committee (Selection Committee), consisting of the Principal Internal Auditor, Assistant Director of Finance, two Accounting Managers, and two Accounting Supervisors screened the proposals, and selected the three most qualified firms for interviews in August 2025. The three finalists, in alphabetical order, were:
CliftonLarsonAllen LLP
Eide Bailly LLP
Macias Gini & O’Connel LLP
The Audit Committee Chair, Mr. Alex Parajon, and Director of Finance, Mr. Jack Liang, along with the Selection Committee, interviewed the three finalist firms. Interviews were conducted on September 18, 2025. Each auditing firm was allotted one-hour of interview time. The interview structure included a presentation by the firm to provide an overview of capabilities and experiences in auditing municipal government entities.

Following the firm’s presentation, questions requesting information on various aspects of the firm’s operations and capabilities were addressed. Topics included: comparable experiences, quality and continuity of firm’s personnel, review process, value added 25 of 572

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services, knowledge of current accounting issues including newly issued Governmental Accounting Standard Board (GASB) statements, auditing experience in an Enterprise Resource Planning environment, and approach to documenting an understanding of the City’s internal control structure. At the completion of the three interviews, each firm’s qualifications were discussed, and Eide Bailly LLP was ranked as the top choice.

After the interviews, each firm was given an opportunity to provide additional information or alteration to the original price quote, which were factored into the final determination.

All three firms submitted a revised cost proposal, and Eide Bailly LLP’s revised cost proposal was the lowest one.

Subsequently, the City conducted the reference check for Eide Bailly LLP, and received good feedback. Based on all of the available information, Finances staff, along with Principal Internal Auditor and the Audit Committee Chair decided that Eide Bailly LLP was the best qualified firm to recommend to the Audit Committee. The main deciding factors were the firms’ governmental experience (especially electric utility experience) and the proposed cost.

On October 30, 2025, the recommendation of Eide Bailly LLP was presented to at the Audit Committee meeting, and the Audit Committee accepted the staff’s recommendation.

Cost of the Agreement
With the City’s current external auditing firm, the audit fees for fiscal year ended 2024- 25 were $110,775. Eide Bailly LLP’s proposed audit fee for the next six fiscal years is as follows: NTD and Measure W audits are additional scopes of work included in this RFP.

NTD audit is required every ten years, and Measure W audit is required every three years. To anticipate additional audits resulting from new Measure and grant funding requirements, a contract contingency reserve of $36,564 (5% of the total contract price) is also requested.

FYE 2025-26 $ 113,250
FYE 2025-26 $ 15,000 (Measure W audit)
FYE 2026-27 $ 113,250
FYE 2027-28 $ 113,250
FYE 2027-28 $ 6,000 (NTD audit)
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FYE 2028-29 $ 115,515
FYE 2028-29 $ 17,000 (Measure W audit)
FYE 2029-30 $ 117,825
FYE 2030-31 $ 120,182
Contingency (5%) $ 36,564
Total $ 767,836
Additional Background Information of Eide Bailly LLP
Eide Bailly LLP is a national public accounting firm with a strong California presence that specializes in government auditing, and currently works with more than 1,200 government clients. The firm has served local governments in California for over 70 years, which include cities, counties, transportation agencies, sewer, sanitation & flood agencies and water agencies. The firm has more than 3,500 employees, which include over 300 employees in its government industry group. Eide Bailly LLP is one of the top 20 accounting firms in the nation.

Eide Bailly LLP is involved in the following organizations: Association of Government Accountants, American Institute of Certified Public Accountants (AICPA), Governmental Audit Quality Center, Private Companies Practice Section Technical Committee, Governmental Accounting Standards Advisory Council and National Association of State Auditors, Comptrollers and Treasurers. Based upon active involvement with these important organizations, Eide Bailly will be able to provide the City with updates on new national and state issues affecting municipal finance standards and reporting requirements.

The proposed service team for Glendale consists of individuals who are familiar with municipal accounting and have extensive experience auditing governmental agencies, especially with federal grants, and water & power utility experience. They also made a commitment to retain the same personnel for the City from year to year, except when such personnel leave the firm or when the change is approved by the City. If a staff member is replaced, Eide Bailly LLP is committed to replacing that person with staff of at least equal experience.

STAKEHOLDERS/OUTREACH
N/A

FISCAL IMPACT
The annual audit fees will be budgeted during each year’s budget process. 27 of 572

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Existing Appropriation (FY2025-26)
Amount Funding Source
$65,140 General Fund
$63,110 Non General Funds

ENVIRONMENTAL REVIEW (CEQA/NEPA)
N/A

CAMPAIGN DISCLOSURE
In accordance with the City Campaign Finance Ordinance No. 5744, none of the members of the board of directors, the chairperson, CEO, COO, CFO, Subcontractors and any person or entity have more than 10% interest in the company proposed for contract in this Agenda Item Report.

ALTERNATIVES TO STAFF RECOMMENDATION
Alternative 1: Do not authorize the Professional Services Agreement (PSA) with Eide Bailly LLP to be the City’s external auditor to perform the annual audit of the financial records of the City for fiscal years ending 2025-26 through 2027-28, with the option to extend the agreement for an additional three fiscal years. Instead, select another firm participated in the RFP as the City’s external auditor starting the audits for fiscal year 2025-26 and on.

Alternative 2: Do not authorize the Professional Services Agreement (PSA) with Eide Bailly LLP to be the City’s external auditor to perform the annual audit of the financial records of the City for fiscal years ending 2025-26 through 2027-28, with the option to extend the agreement for an additional three fiscal years. Instead, request staff to conduct another request for proposal (RFP) and evaluation process to select a different firm to be the City’s external auditor.

Alternative 3: Consider any other alternative not presented by staff.

ADMINISTRATIVE ACTION
Submitted by:

Jack Liang, Director of Finance
Prepared by:

Shu-Jun Li, Assistant Director of Finance
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Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
N/A
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MOTION
Moved by Council Member___________________________________, seconded by Council Member_________________________________, that the Council hereby approves Eide Bailly LLP to perform the annual audit of the financial records of the City of Glendale for fiscal years ending 2025-26 through 2027-28, with the option to renew the contract for an additional three fiscal years. The fees for fiscal year 2025-26 is $128,250, for fiscal year 2026-27 is $113,250, for fiscal year 2027-28 is $119,250, for fiscal year 2028-29 is $132,515, for fiscal year 2029-30 is $117,825, and for fiscal year 2030-31 is $120,182. With the contingency reserve (5%) of $36,564, the total cost is $767,836. The City Manager, or his designee, is authorized to execute a professional services agreement with Eide Bailly LLP, subject to approval by the City Attorney.

Vote as follows:

Ayes:

Noes:

Absent:

Abstain:

MOTION ADOPTED BY THE GLENDALE CITY COUNCIL AT ITS REGULAR MEETING HELD ON ____________________________.
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25-89042

CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Authorize the Escheatment of Unclaimed Checks & Deposits

1. Motion to authorize the Director of Finance to escheat unclaimed checks and deposits held by various City funds pursuant to Government Code Sections 50050-50057.

COUNCIL ACTION
Item Type: Consent Calendar
Approved for December 9, 2025 calendar

EXECUTIVE SUMMARY
On an annual basis, the Finance Departments presents the City Council a list of unclaimed property that meet the requirements mandated by Government Code Sections 50050-50057 to escheat funds. As required by the Government Code, the City has made multiple efforts to return these outstanding funds to their rightful owners by attempting to contact them through a variety of different means. Through these attempts, at the time of preparing this report on November 6, 2025, we have re-issued seventy outstanding checks totaling $96,911.29. We have also received fourteen claim forms for outstanding deposits totaling $105,400.00, which were under review at the time this report was being prepared. After multiple outreach efforts, the remaining unclaimed property as of November 6, 2025, is $41,724.06 for outstanding checks and $359,198.60 for outstanding deposits. Claims will continue to be accepted until today (December 9, 2025), and the actual remaining unclaimed property balance may be less due to additional claims received.
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RECOMMENDATION
Authorize the Director of Finance to escheat unclaimed checks and deposits held by various funds pursuant to Government Code Sections 50050-50057.

ANALYSIS
California Government Code Sections 50050-50057 provide the legal framework for local agencies to handle unclaimed funds, such as uncashed checks or unclaimed deposits. These laws allow local governments to take ownership of and transfer unclaimed money to their general fund after three years for funds over fifteen dollars ($15), following a defined public notification process. The notification process requires the list of unclaimed checks and deposits to be published as public notice once a week for two successive weeks in a local newspaper. Then any remaining unclaimed funds become the property of the City on a designated date not less than forty-five days nor more than sixty days after the first publication of the notice. Any individual check under fifteen dollars ($15) that remain unclaimed for one year can be transferred to the general fund without public notice.

Outstanding Checks:

In February 2025, Finance staff obtained a list of all outstanding checks from the City Treasurer’s office which included checks issued in 2021 and earlier. Staff, from multiple departments, and AdminSure, the City’s workers’ compensation third-party administrator, worked collectively to contact each payee to notify them of their unclaimed funds by phone, e-mail, and U.S. mail. Multiple attempts were made to contact each individual, after which the City per state requirements published the list of unclaimed funds in the local newspaper on October 23 and October 30, 2025. The City took additional measures, beyond the general requirements, by issuing a press release, posting notifications on the City’s website and the City’s different social media platforms.

In addition, with the help of Information Technology Department (ITD), the City launched a new online portal allowing claimants to search and submit a claim for their funds directly through the City’s online portal.

The outstanding checks can be reissued by Accounts Payable once a replacement check affidavit is submitted to the City Treasurer’s Office. Once the affidavit is reviewed and approved, the City Treasurer’s Office will then process a stop payment with the bank for the original check then forward the completed packet to Accounts Payable for a check to be reissued.

As of November 6, 2025, the date this report was prepared, staff were able to re-issue seventy outstanding checks totaling $96,911.29 with the remaining unclaimed checks being 142 checks, totaling $41,724.06.

Outstanding Deposits:

Also in February 2025, Finance staff worked with Public Works and Community Development staff for the list of outstanding deposits. Public Works and Community Development staff contacted each payee through variety of methods including phone, e- mail, and U.S. Mail. Currently, there are sixteen unclaimed deposits in the amount of 32 of 572

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$10,320.00, which are associated with the Excavation Permits administered by Public Works Department. In addition to the sixteen 16 unclaimed deposits, there are fifty-six (56) unclaimed deposits in the amount of $348,878.60, which are associated with the Construction and Demolition (C&D) Debris Bond administered by Community Development Department.

To obtain excavation permit refund, applicants must submit an application. Public Works staff will review the inspection document to verify the eligibility. Once all requirements are met, Public Works staff request the issuance of the refund through Accounts Payable.

To obtain a C&D Debris Bond refund, applicants must divert 65% of the project’s estimated debris to a certified mixed debris recycling facility and submit Waste Reduction and Recycling Plan Compliance Report within six months of certificate of occupancy. Community Development staff request the issuance of the refund through Accounts Payable once all the requirements are met.

Construction permits associated with the C&D Debris Bond deposits often remain active for more than three years. By the end of a five-year period from issuance, the permits are either expired, or construction projects are completed. Thus, C&D Debris Bond deposits older than five years are subject to the escheatment.

On July 30, 2019, Council approved the amendment of Chapter 8 of the Glendale Municipal Code, related to Construction Demolition Debris, transferring enforcement, responsibility, and administration of the Ordinance from Public Works Department, Integrated Waste Management, to the Community Development Department, Building and Safety Division. The amendment applies to the C&D Debris Bond deposits processed after the adoption date. Six outstanding C&D Debris Bond deposits in the amount of $16,105.00 were processed prior to the amendment adoption date, and thus, shall be retained by the City to promote waste diversion efforts in the community. (Ord. 5895 §1, 2017). The remaining fifty outstanding C&D Debris Bond deposits in the amount of $332,773.60, shall be retained by the City in the General Fund.

After extensive outreach over the past few months, staff received fourteen claim forms for unclaimed deposits totaling $105,400.00 as of November 6, 2025, the date this report was prepared. These fourteen claims were reviewed by CDD staff to verify refund eligibility, and refunds would be issued once the verification process is complete. The remaining seventy-two unclaimed deposits total $359,198.60.

STAKEHOLDERS/OUTREACH
The City of Glendale has taken measures beyond the State’s minimum notification requirements utilizing a variety of different outreach methods. First, City staff and AdminSure attempted to contact each payee directly by phone, e-mail, and U.S. mail.

Next, detailed notices were published in the Glendale Independent on October 23 and October 30, 2025. A press release was also published providing instructions on how to claim these funds by directing any party of interest to the City’s website and the City’s 33 of 572

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new unclaimed funds portal. Similar notices have also been posted on the City’s website and various social media platforms. While the traditional methods of initiating a claim by calling or e-mailing remained intact, the City launched a new online portal allowing claimants to search and submit a claim for their funds directly through this portal. This portal allowed any claimant who chooses to initiate a claim online to go through the process with ease. Staff will continue to work with the public and accept any new claims until the timeframe per Government Code Section 50050-50057 is met and per City Council's authorization to escheat any remaining unclaimed funds.

FISCAL IMPACT
If approved by the Council, the escheated funds up to $400,922.66 will be reverted to the following funds:

General Fund $350,180.43
Compensation Insurance Fund $8,636.28
Electric Public Benefit Fund $438.04
Electric Fund $10,579.81
Housing Assistance Fund $9,631.00
Joint Air Support Fund $17.06
Liability Insurance Fund $1,370.00
Parks Mitigation Fee Fund $3,760.00
Refuse Disposal Fund $16,310.04
Total $400,922.66
* The amounts above are as of November 6, 2025, the date this report was prepared.

The final escheated amount may be lowered based on the number of checks and deposits claimed between November 6, 2025, and the date of the City Council meeting this report is presented.

ENVIRONMENTAL REVIEW (CEQA/NEPA)
This item is not subject to CEQA/NEPA review.

CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.

ALTERNATIVES TO STAFF RECOMMENDATION

1. Do not authorize to escheat the checks and deposits held by various funds pursuant to Government Code Sections 50050-50057.

2. Consider any other alternative not presented by staff. 34 of 572

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ADMINISTRATIVE ACTION
Submitted by:

Jack Liang, Director of Finance
Prepared by:

Steve Kwon, Accounts Payable Supervisor
Steve Kim, Accounting Supervisor
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
Exhibit 1: Outstanding checks and deposits to be escheated Exhibit 2: Copy of Press Release
Exhibit 3.1: Proof of publication in the Glendale Independent (Oct 23, 2025) Exhibit 3.2: Proof of publication in the Glendale Independent (Oct 30, 2025) 35 of 572

MOTION
Moved by Council Member ____________________________, seconded by Council Member ___________________________, that, pursuant to Government Code Section 50050, any escheated unclaimed property held in the general fund or any special fund is now property of the City, to be held in the account in which the payment was issued or deposit held, as set forth in the Report to Council dated December 9, 2025.

Vote as follows:

Ayes:

Noes:

Absent:

Abstain:
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CHECK/RECEIPT # DATE PAYEE/DEPOSITOR AMOUNT TYPE
956055 07/08/2021A WILD HAIR 67.47$ UNCLAIMED CHECK 952280 04/29/2021AE SOOK KONG 35.95$ UNCLAIMED CHECK 958034 08/12/2021ALINA ANTIPINA 28.51$ UNCLAIMED CHECK 949040 03/11/2021ALMAS SHAMIRYAN 32.55$ UNCLAIMED CHECK 957237 07/22/2021ANAHIT JANOYAN 34.66$ UNCLAIMED CHECK 958995 08/24/2021ANI ABRAMIAN 2,000.00$ UNCLAIMED CHECK 992433 05/11/2023 ANNA KELOIAN 6.91$ UNCLAIMED CHECK 950532 04/08/2021ANUSH MNATSAKANYAN 347.48$ UNCLAIMED CHECK 947247 02/04/2021APRIL FOX 64.75$ UNCLAIMED CHECK 1000410 10/12/2023 ARAKSYA GARSEVANYAN 14.97$ UNCLAIMED CHECK 959302 08/31/2021ARINEH ARZOUMANIAN 90.70$ UNCLAIMED CHECK 961796 10/21/2021ASTINE SULEIMANYAN 990.00$ UNCLAIMED CHECK 959883 09/16/2021AVANES MIKAEEL 51.11$ UNCLAIMED CHECK 949253 03/18/2021BALASAN KHACHKIAN SINGERDY 15.55$ UNCLAIMED CHECK 964470 12/09/2021BELISLE REALTY 164.53$ UNCLAIMED CHECK 955840 06/30/2021BOEING DISTRIBUTION INC 17.06$ UNCLAIMED CHECK 142573 09/30/2021 BRIAN DEWHIRST 91.72 $ UNCLAIMED CHECK 142782 10/08/2021 BRIAN DEWHIRST 91.73 $ UNCLAIMED CHECK 947003 01/28/2021 BYRON JARRETT 580.00 $ UNCLAIMED CHECK 991824 04/25/2023 CESAR DOMINGUEZ 1.83 $ UNCLAIMED CHECK 964082 11/23/2021CHARLENE CHUNG 167.61$ UNCLAIMED CHECK 156302 04/13/2023 Charles Inglis 4.19 $ UNCLAIMED CHECK 959886 09/16/2021CP 4 GLENDALE LLC 16.56$ UNCLAIMED CHECK 964732 12/16/2021CYNTHIA ALCALA 29.64$ UNCLAIMED CHECK 963013 11/09/2021DANTEUS KNOWLIN 37.25$ UNCLAIMED CHECK 947566 02/18/2021 DENNIS CRUZ 24.08 $ UNCLAIMED CHECK 952223 04/29/2021DESIGN & BUILD PARTNERS INC. 3,760.00$ UNCLAIMED CHECK 962826 11/04/2021EDDIE YAMASHITA 31.07$ UNCLAIMED CHECK 957259 07/22/2021EDGAR SOGHOMONYAN 96.65$ UNCLAIMED CHECK 956061 07/08/2021EDUARDO RAFFAELLI 81.22$ UNCLAIMED CHECK 950439 04/01/2021EDVARD ABASYAN 65.88$ UNCLAIMED CHECK 949522 03/25/2021ELLA RODRIGUEZ 137.86$ UNCLAIMED CHECK 957244 07/22/2021ERNEST BROWN 59.11$ UNCLAIMED CHECK 954161 06/03/2021ERVIN L YOUNGBLOOD#DBA: YOUNGBLOOD & ASSOCIATES 325.00$ UNCLAIMED CHECK 954192 06/03/2021EVELINA KAROGLANOVA 564.83$ UNCLAIMED CHECK 961450 10/14/2021 EXPRESS SCRIPTS INC#DBA: MYMATRIXX 813.83 $ UNCLAIMED CHECK 951208 04/22/2021FEIFAN HU 32.79$ UNCLAIMED CHECK 948638 03/04/2021FERNANDO MALDONADO 19.69$ UNCLAIMED CHECK 138224 03/25/2021 FERNANDO SALMERON 17.92 $ UNCLAIMED CHECK 958228 08/19/2021GABRIELLE MORRISON 304.74$ UNCLAIMED CHECK 986643 01/19/2023 GAGIK ADAMYAN 1.00$ UNCLAIMED CHECK 958452 08/19/2021GAGIK VARDUMYAN 1,289.00$ UNCLAIMED CHECK 957532 07/29/2021GARAGIN MINASIAN 80.30$ UNCLAIMED CHECK 965689 12/28/2021GLENDALE COMMUNITY CHURCH OF GOD 114.34$ UNCLAIMED CHECK 927632 03/03/2020 GLENWOOD LLC 2,000.00 $ UNCLAIMED CHECK 949260 03/18/2021GOLCHINAR BEGJANYAN 71.61$ UNCLAIMED CHECK 949043 03/11/2021GUANCHEN WANG 33.76$ UNCLAIMED CHECK 962828 11/04/2021GURGEN TER-GUKASYAN 35.81$ UNCLAIMED CHECK 951286 04/22/2021GUSITY SSEKANDI 30.34$ UNCLAIMED CHECK 952787 05/13/2021GUZMAN VASTI RAMIREZ 29.77$ UNCLAIMED CHECK 160280 09/12/2023 Hard Copy 5.00 $ UNCLAIMED CHECK 160281 09/12/2023 Hard Copy 5.00 $ UNCLAIMED CHECK 160959 09/26/2023 Hard Copy 7.61 $ UNCLAIMED CHECK 949261 03/18/2021HAROLD VALENTINE 49.58$ UNCLAIMED CHECK 964474 12/09/2021HAROUT BALIAN 88.27$ UNCLAIMED CHECK 947021 01/28/2021HENGQI ZHAO 79.70$ UNCLAIMED CHECK 954102 06/01/2021HONEST PLUMBING & ROOTER INC 626.00$ UNCLAIMED CHECK 991993 04/27/2023 HOOMER AVASABIAN 5.52$ UNCLAIMED CHECK 955895 07/01/2021IANA SHILOVA 92.90$ UNCLAIMED CHECK 959891 09/16/2021ISABEL PASAN GALLARDO 88.79$ UNCLAIMED CHECK List created as of November 6, 2025Exhibit 1: Outstanding Checks to be escheated 38 of 572

947251 02/04/2021J MARCUS 203.41$ UNCLAIMED CHECK 961195 10/07/2021JARED HOWELTON 699.96$ UNCLAIMED CHECK 958970 08/24/2021JASON E GROOMER DO INC 750.00$ UNCLAIMED CHECK 957537 07/29/2021JENIK SIMONIAN 76.70$ UNCLAIMED CHECK 954797 06/17/2021JENNAFER ROJAS 76.57$ UNCLAIMED CHECK 160091 09/05/2023 Jeremy Hansen 4.85 $ UNCLAIMED CHECK 954007 05/27/2021JESSICA LEE 115.29$ UNCLAIMED CHECK 948625 02/23/2021JIAMIAN DONG 69.52$ UNCLAIMED CHECK 961004 09/30/2021 JILIO-RYAN HUNTER & OLSEN INC 2,718.30 $ UNCLAIMED CHECK 987480 02/02/2023 JOCELYN REYES 10.27$ UNCLAIMED CHECK 960984 09/30/2021JONATHAN ZELAYA SALAZAR 59.77$ UNCLAIMED CHECK 947725 02/18/2021JOSHUA TITCHKOSKY 56.40$ UNCLAIMED CHECK 137842 03/09/2021 KANSAL, INC. 93.80 $ UNCLAIMED CHECK 137843 03/09/2021 KANSAL, INC. 802.99 $ UNCLAIMED CHECK 957266 07/22/2021KANTIBEN PATEL 35.25$ UNCLAIMED CHECK 957247 07/22/2021KASSANDRA ALVAREZ 43.41$ UNCLAIMED CHECK 947727 02/18/2021KEVIN JOHNSON 41.25$ UNCLAIMED CHECK 958047 08/12/2021KOTOMI KAMIOKA 83.26$ UNCLAIMED CHECK 957382 07/27/2021LEAH M. TORRES 626.00$ UNCLAIMED CHECK 951289 04/22/2021LEON TONIAN 180.93$ UNCLAIMED CHECK 957542 07/29/2021LILIT DEMIRTSHYAN 38.89$ UNCLAIMED CHECK 993761 06/01/2023 LILIT MELKONYAN 7.50$ UNCLAIMED CHECK 143697 11/23/2021 LISTER, MARTIN, & THOMPSON, LLP 350.00 $ UNCLAIMED CHECK 142661 10/05/2021 LISTER, MARTIN, & THOMPSON, LLP 1,190.00 $ UNCLAIMED CHECK 956069 07/08/2021LUCYK RANJBAR 112.82$ UNCLAIMED CHECK 137654 03/03/2021 LUIS DE HARO 56.17 $ UNCLAIMED CHECK 954798 06/17/2021LUZ MONDONEDO 779.80$ UNCLAIMED CHECK 997066 08/03/2023 MAARTEN LEMMENS 6.85$ UNCLAIMED CHECK 1000572 10/19/2023 MADINA ELIMKHADZHIEVA 11.64$ UNCLAIMED CHECK 963021 11/09/2021MANAGEMENT EMPORIUM 105.88$ UNCLAIMED CHECK 157807 06/09/2023 Manuel Fernandez 5.04 $ UNCLAIMED CHECK 957718 08/05/2021MARGARET MOVSISSIAN 17.29$ UNCLAIMED CHECK 963022 11/09/2021MARIA ROSARIO TINOCO 77.48$ UNCLAIMED CHECK 948646 03/04/2021MEGUMI TANAKA 31.37$ UNCLAIMED CHECK 963271 11/18/2021MELODIE POWELL 53.73$ UNCLAIMED CHECK 956071 07/08/2021MERLITA T GALAPATE 25.54$ UNCLAIMED CHECK 953453 05/20/2021MICHAEL MAJID YUSUF 6,828.00$ UNCLAIMED CHECK 956072 07/08/2021MINGJIE LIU 115.14$ UNCLAIMED CHECK 955904 07/01/2021MOGHAK VARTOMIAN KHOYGANI 51.69$ UNCLAIMED CHECK 948630 02/23/2021MOHAMED ABDUSSALAM 28.66$ UNCLAIMED CHECK 959450 09/02/2021NICOLE MENDIETA 26.27$ UNCLAIMED CHECK 954799 06/17/2021NOEMI EBRAHIMI 158.00$ UNCLAIMED CHECK 959192 08/26/2021NOMAD MUSIC GROUP INC 400.00$ UNCLAIMED CHECK 991598 04/20/2023 NUNE VARDANYAN 1.00$ UNCLAIMED CHECK 993106 05/18/2023 NUNE VARDANYAN 1.00$ UNCLAIMED CHECK 994897 06/22/2023 NUNE VARDANYAN 1.00$ UNCLAIMED CHECK 996419 07/20/2023 NUNE VARDANYAN 1.00$ UNCLAIMED CHECK 998099 08/24/2023 NUNE VARDANYAN 1.00$ UNCLAIMED CHECK 999640 09/21/2023 NUNE VARDANYAN 1.00$ UNCLAIMED CHECK 1000996 10/19/2023 NUNE VARDANYAN 1.00$ UNCLAIMED CHECK 1002539 11/21/2023 NUNE VARDANYAN 1.00$ UNCLAIMED CHECK 952545 05/06/2021NVART SHAHNAZARI 27.06$ UNCLAIMED CHECK 962601 10/28/2021OFIC LANDHOORIAN 80.75$ UNCLAIMED CHECK 1002003 11/16/2023 OLGA RODRIGUEZ 10.97$ UNCLAIMED CHECK 947260 02/04/2021OSCAR A MARTINEZ TURCIOS 25.40$ UNCLAIMED CHECK 950990 04/15/2021OVERLAND PACIFIC & CUTLER INC 53.87$ UNCLAIMED CHECK 998301 08/24/2023 OVSEP GUOZALIAN 9.40$ UNCLAIMED CHECK 963274 11/18/2021PATRICK JACKSON 218.06$ UNCLAIMED CHECK 159490 08/15/2023 Peter Simon Birnbaum DO Inc. 13.13 $ UNCLAIMED CHECK 962836 11/04/2021QIZHEN LIU 119.94$ UNCLAIMED CHECK 140495 06/29/2021 RAMIN JEBRAILI MD 312.50 $ UNCLAIMED CHECK 931810 05/14/2020 RAZAN AMMARI 248.50 $ UNCLAIMED CHECK 950993 04/15/2021RENATA KASA 26.11$ UNCLAIMED CHECK 39 of 572

956075 07/08/2021RICO BOZANT 95.79$ UNCLAIMED CHECK 962837 11/04/2021RIMA ABRAHAMYAN 24.05$ UNCLAIMED CHECK 955557 06/24/2021ROBERT MANOUKIAN 524.00$ UNCLAIMED CHECK 959897 09/16/2021ROSE LEON 59.35$ UNCLAIMED CHECK 947262 02/04/2021ROZA AHANESIAN 53.25$ UNCLAIMED CHECK 136287 01/04/2021 RYAN GUNN 43.88 $ UNCLAIMED CHECK 140557 06/30/2021 RYAN GUNN 43.88 $ UNCLAIMED CHECK 140902 07/16/2021 RYAN GUNN 44.45 $ UNCLAIMED CHECK 947264 02/04/2021RYOSUKE SUGITA 88.60$ UNCLAIMED CHECK 142641 10/04/2021 SAN BERNARDINO MEDICAL ORTHOPAEDIC GROUP 1,250.00 $ UNCLAIMED CHECK 964736 12/16/2021SANG HA RYU 205.93$ UNCLAIMED CHECK 987484 02/02/2023 SARKIS ORUDZHYAN 10.62$ UNCLAIMED CHECK 947266 02/04/2021SHABAN SIMAIE 102.49$ UNCLAIMED CHECK 995694 07/13/2023 SHAHEN TARVIRDIAN 12.72$ UNCLAIMED CHECK 950448 04/01/2021SHAINA KATZ 21.33$ UNCLAIMED CHECK 956285 07/15/2021SHAMAM HARUTYUNYAN 438.04$ UNCLAIMED CHECK 144262 12/21/2021 SHANE MURPHY 52.70 $ UNCLAIMED CHECK 956078 07/08/2021SHEHANI JAYARATNA 16.26$ UNCLAIMED CHECK 959125 08/26/2021SHERYL GUERRERO 54.00$ UNCLAIMED CHECK 957553 07/29/2021SIDA DU 153.12$ UNCLAIMED CHECK 962839 11/04/2021SONA DALDUMYAN 30.00$ UNCLAIMED CHECK 962840 11/04/2021SONA DALDUMYAN 60.00$ UNCLAIMED CHECK 950450 04/01/2021STEPAN A SHAPOSHNIKOV 59.33$ UNCLAIMED CHECK 950995 04/15/2021SUNG YEN LAI 319.87$ UNCLAIMED CHECK 958239 08/19/2021SUPACHAI PAENGKARIYA 108.60$ UNCLAIMED CHECK 959454 09/02/2021SUSAN ZADOURI 35.45$ UNCLAIMED CHECK 947268 02/04/2021SUSANNAH BAYNE 40.00$ UNCLAIMED CHECK 960060 09/23/2021SUZY HARYANTO 193.84$ UNCLAIMED CHECK 948652 03/04/2021SWEET DREAMS DIAGNOSTICS 163.73$ UNCLAIMED CHECK 964481 12/09/2021SYED MOIZULLAH 42.55$ UNCLAIMED CHECK 963030 11/09/2021THOMAS SANTOS 139.89$ UNCLAIMED CHECK 945702 01/07/2021TINA DUNN 343.10$ UNCLAIMED CHECK 139197 05/03/2021 TRAVIS GOODREAU 58.33 $ UNCLAIMED CHECK 954108 06/01/2021TURN AROUND COMMUNICATIONS INC 626.00$ UNCLAIMED CHECK 964483 12/09/2021VANIA AISAKHANIAN 30.50$ UNCLAIMED CHECK 949273 03/18/2021VEGHIHANIK LAZARIYAN 118.28$ UNCLAIMED CHECK 947474 02/11/2021VELIKHAN POGOSYAN 18.55$ UNCLAIMED CHECK 993741 06/01/2023 VICTOR ESTRADA 8.00 $ UNCLAIMED CHECK 948657 03/04/2021VIKTOR SARGSYAN 86.77$ UNCLAIMED CHECK 963031 11/09/2021VIRJEEN MANUAIL BOGHOS 62.66$ UNCLAIMED CHECK 957557 07/29/2021VLADISLAV DENISOV 152.30$ UNCLAIMED CHECK 954466 06/10/2021VOCATIONAL ECONOMICS OF NEVADA LLC 620.00$ UNCLAIMED CHECK 961199 10/07/2021WYLDER TOMLINSON 22.09$ UNCLAIMED CHECK 953002 05/20/2021XIAOHAN ZHANG 81.23$ UNCLAIMED CHECK 947743 02/18/2021YINGQI REN 121.62$ UNCLAIMED CHECK 961478 10/14/2021YUECHENG DUAN 28.79$ UNCLAIMED CHECK 952236 04/29/2021ZAID RABADI 265.00$ UNCLAIMED CHECK 953003 05/20/2021ZHEN HUANG 333.06$ UNCLAIMED CHECK CHECK/RECEIPT # DATE PAYEE/DEPOSITOR AMOUNT TYPE
297031 11/25/2019 1713 STANDARD AVENUE LLC 12,000.00$ CASH BOND DEPOSIT 297099 11/25/2019 505 NORTH BRAND JV LLC 16,200.00$ CASH BOND DEPOSIT 301100 02/13/2020 ALPHA OMEGA CONTRACTORS 3,600.00$ CASH BOND DEPOSIT 296498 11/25/2019 ANDRE ELIASIAN 1,200.00$ CASH BOND DEPOSIT 299486 02/04/2020 ARAXI JAMGOTCHIAN 30,000.00$ CASH BOND DEPOSIT 295061 11/08/2019 ARPINE CHANGLYAN ; ARAM MURADYAN 3,000.00$ CASH BOND DEPOSIT 304381 05/20/2020 BARSEGH OUNDJIAN 645.00$ CASH BOND DEPOSIT 305404 07/20/2020 BEST WESTERN PLUMBING ; HARMIK SHAHIJANIAN 645.00$ CASH BOND DEPOSIT 299477 02/04/2020 B-ONE CONSTRUCTION CO., INC. 4,000.00$ CASH BOND DEPOSIT 301083 02/13/2020 BROTHERS SERVICES 645.00$ CASH BOND DEPOSIT 299089 02/04/2020 BUILD GROUP INC 18,000.00$ CASH BOND DEPOSIT List created as of November 6, 2025Exhibit 1: Outstanding Deposits to be escheated 40 of 572

294063 10/30/2019 CCK BUILDERS INC. 10,125.00$ CASH BOND DEPOSIT 302295 02/29/2020 CHARTER COMMUNICATIONS 645.00$ CASH BOND DEPOSIT 302881 03/10/2020 CHARTER COMMUNICATIONS 645.00$ CASH BOND DEPOSIT 303772 04/30/2020 CHARTER COMMUNICATIONS 645.00$ CASH BOND DEPOSIT 302591 03/10/2020 CP CONSTRUCTION WEST, INC. 7,500.00$ CASH BOND DEPOSIT 302590 03/10/2020 CP CONSTRUCTION WEST, INC. 10,500.00$ CASH BOND DEPOSIT 305363 07/20/2020 CROWN CASTLE USA INC. 645.00$ CASH BOND DEPOSIT 295313 11/08/2019 DAVID HAYRAPETYAN AND KAREN YEGHIAZARYAN DBA 1410 COLIN 7,000.00$ CASH BOND DEPOSIT 304873 07/20/2020 EAGLES 1 LLC 6,150.00$ CASH BOND DEPOSIT 300436 02/13/2020 ENGINEERING ASSOCIATES, LLC 645.00$ CASH BOND DEPOSIT 300867 02/13/2020 ENGINEERING ASSOCIATES, LLC 645.00$ CASH BOND DEPOSIT 300868 02/13/2020 ENGINEERING ASSOCIATES, LLC 645.00$ CASH BOND DEPOSIT 301998 02/20/2020 ERNA HAMBARDZUMYAN 3,200.00$ CASH BOND DEPOSIT 297861 11/10/2019 ERNEST PAYNE CONSTRUCTION, INC. 4,500.00$ CASH BOND DEPOSIT 110037 05/01/2006 FREDRICK TOWERS INC 25.00$ CASH BOND DEPOSIT 301748 02/20/2020 GEORGE C HOPKINS CONSTRUCTION CO INC 8,250.00$ CASH BOND DEPOSIT 292585 07/10/2019 GEORGE C. HOPKINS ; CONSTRUCTION CO., INC. 4,500.00$ CASH BOND DEPOSIT 295039 11/08/2019 GEORGE THOMASIAN ; ANET ATAMIAN 3,400.00$ CASH BOND DEPOSIT 301805 02/20/2020 GOLDEN BRIDGE; WHITTIER ENTERPRISES 4,100.00$ CASH BOND DEPOSIT 298924 02/04/2020 HAMLET Z. INC. 3,200.00$ CASH BOND DEPOSIT 262574 07/26/2017 HAYK MATEVOSIAN 3,600.00$ CASH BOND DEPOSIT 299092 02/04/2020 HORIZON RETAIL CONSTRUCTION INC 7,500.00$ CASH BOND DEPOSIT 296057 11/12/2019 INDALECIO FLORES ; INDY'S DEMOLITION INC 840.00$ CASH BOND DEPOSIT 299197 02/04/2020 INTERTEX, INC. ; DBA INTERTEX GENERAL CONTRACTORS, INC. 1,722.50$ CASH BOND DEPOSIT 304484 05/31/2020 JEFFREY L DAVIS 645.00$ CASH BOND DEPOSIT 304472 05/31/2020 KAVIN B RANASINGHE 645.00$ CASH BOND DEPOSIT 298417 11/30/2019 LAURALEE HARTUNG 3,600.00$ CASH BOND DEPOSIT 305317 06/23/2020 LINDSEY YONEMURA 645.00$ CASH BOND DEPOSIT 304591 05/31/2020 LLJ OFFICE VENTURES 6, LLC ; OPERATING ACCOUNT 24,000.00$ CASH BOND DEPOSIT 294361 10/30/2019 LOUDMILLA VERTANESSIAN ; GARAGIN VERTANESSIAN 2,300.00$ CASH BOND DEPOSIT 296495 11/25/2019 MANAGE360 ; CONSTRUCTORS, INC. 5,820.00$ CASH BOND DEPOSIT 296041 11/12/2019 MANAGE360 CONSTRUCTORS INC. 4,650.00$ CASH BOND DEPOSIT 305152 07/20/2020 MARIA MCFARLANE 645.00$ CASH BOND DEPOSIT 305152 07/20/2020 MARIA MCFARLANE 645.00$ CASH BOND DEPOSIT 298449 11/30/2019 MASTER PROPERTY IMPROVEMENTS CO INC; DBA MASTER CO 4,200.00$ CASH BOND DEPOSIT 304465 05/31/2020 MEHRDAD H JAFARI 645.00$ CASH BOND DEPOSIT 300159 02/13/2020 MICHAEL CUELLAR ; HARCO GROUP INC. 4,000.00$ CASH BOND DEPOSIT 295286 11/08/2019 OLIVER LOPEZGARCIA; PERMIT ADVISORS INC 7,800.00$ CASH BOND DEPOSIT 297552 11/25/2019 OSCAR X VERDUGO 3,761.10$ CASH BOND DEPOSIT 303128 03/20/2020 PARKER BROWN INC. 4,500.00$ CASH BOND DEPOSIT 304330 05/20/2020 PETER NAM 4,200.00$ CASH BOND DEPOSIT 296544 11/25/2019 RACHELLE E BELL ; LAUREN A REICHENBERG ; BRANDON R BELL ; ADAM DEAN NOEL2,000.00$ CASH BOND DEPOSIT 292321 07/10/2019 RETAIL ; CONSTRUCTION ; SERVICES , INC. 3,900.00$ CASH BOND DEPOSIT 302666 03/10/2020 RODOLPH NASR 2,600.00$ CASH BOND DEPOSIT 293060 07/20/2019 SAMUEL DORDULIAN; MARINE DORDULIAN 3,000.00$ CASH BOND DEPOSIT 300925 02/13/2020 SAMUEL G KING; MARIELA KING 6,300.00$ CASH BOND DEPOSIT 298386 11/20/2019 SCHIMENTI CONSTRUCTION COMPANY LLC 15,000.00$ CASH BOND DEPOSIT 300116 02/13/2020 SCOTT GOSSETT 2,400.00$ CASH BOND DEPOSIT 298954 02/04/2020 SCOTT SIMMONS ; ALTA CONSTRUCTION INC 3,015.00$ CASH BOND DEPOSIT 303965 05/10/2020 SPVA HOLDINGS LLC 1,500.00$ CASH BOND DEPOSIT 299858 02/04/2020 STEINER CONTRACTORS, INC. ; DBA STEINER BROS. CONSTRUCTION CO 9,600.00$ CASH BOND DEPOSIT 305422 07/20/2020 STEPEN KAZANCHIAN 2,520.00$ CASH BOND DEPOSIT 304579 05/31/2020 STEVE MOZO 2,000.00$ CASH BOND DEPOSIT 294062 10/30/2019 TILE KING, INC. 1,800.00$ CASH BOND DEPOSIT 297798 11/10/2019 TIMOTHY L. ROBBINS REVOC LIV TR. 4,400.00$ CASH BOND DEPOSIT 294733 10/30/2019 TSUKURU USA CORPORATION 18,000.00$ CASH BOND DEPOSIT 295519 11/08/2019 UNIWEST MANAGEMENT INC 180.00$ CASH BOND DEPOSIT 295519 11/08/2019 UNIWEST MANAGEMENT INC 420.00$ CASH BOND DEPOSIT 295519 11/08/2019 UNIWEST MANAGEMENT INC 720.00$ CASH BOND DEPOSIT 293763 10/30/2019 VIOLA PARTNERS LLC 25,500.00$ CASH BOND DEPOSIT 263947 08/25/2017 WILSON MARYLAND MIXED USE, LLC 1,080.00$ CASH BOND DEPOSIT 41 of 572

News
City of Glendale Announces Opportunity to Claim Uncashed Checks and Deposits
Post Date: 10/23/2025 9:56 AM

FOR IMMEDIATE RELEASE
October 23, 2025
Finance Contact: Steve Kwon
Email: [email protected] (mailto:[email protected]) Phone: (818) 548-3907
City Media Contact: Communications & Community Relations Email: [email protected] (mailto:[email protected]) Phone: (818) 548-3342
City of Glendale Announces Opportunity to Claim Uncashed Checks and Deposits Glendale, CA – The City of Glendale is working to return unclaimed checks and deposits, that have been unclaimed for more than three years, to their rightful owners. In compliance with state rules (California Government Code Sections 50050-50056), the City will publish a notice in the local newspaper for two consecutive weeks. This notice will list all unclaimed checks and deposits. If no one claims the money within 45 to 60 days of the first notice, the funds will become the City’s property.

Some smaller amounts, such as unclaimed funds under $15 that have been outstanding for over a year, may automatically be transferred to the City’s General Fund without public notice.

NOTICE IS HEREBY GIVEN THAT, the Director of Finance of the City of Glendale, County of Los Angeles, State of California, declares that the following monetary sums have been held by the Director of Finance and have remained unclaimed and will become the property of the City of Glendale on December 9, 2025.

What You Need to Know:
• List of unclaimed checks and deposits can be found on the City’s website or through the City’s new unclaimed property portal
• You can file your claim by December 9, 2025, by one of the following two methods:
- Submit a claim form to the Finance Department through the city’s website (https://www.glendaleca.gov/government/departments/finance/accounts-payable). - Submit your claim online through the unclaimed property portal. (https://unclaimedproperty.glendaleca.gov/)
Additional Information:
• Claim forms are available at the front counter in the City’s Finance Department, located at 141 N. Glendale Ave., Room 346, Glendale, CA 91206.
11/5/25, 7:30 AM City of Glendale Announces Opportunity to Claim Uncashed Checks and Deposits | News | City of Glendale, CA https://www.glendaleca.gov/Home/Components/News/News/9420/16 1/2 42 of 572

Return to full list >> (/residents/news)
• For questions about unclaimed checks, you can contact Finance Department’s Accounts Payable team at (818) 548-3907.
• For questions about unclaimed deposits, you can contact Finance Department’s General Accounting team at (818) 548-3243.

This process and this notice comply with California Government Code Sections 50050-50056. ###
About the City of Glendale
Known as the “Jewel City,” Glendale is the fourth largest city of Los Angeles County. With a population of almost 200,000, Glendale is a thriving cosmopolitan city that is rich in history, culturally diverse, and offers nearly 50 public parks & facilities, with easy access to a municipal airport. It is the home to a vibrant business community, with major companies in healthcare, entertainment, manufacturing, retail, and banking. Visit GlendaleCA.gov for more information and follow us on social media @MyGlendale.
11/5/25, 7:30 AM City of Glendale Announces Opportunity to Claim Uncashed Checks and Deposits | News | City of Glendale, CA https://www.glendaleca.gov/Home/Components/News/News/9420/16 2/2 43 of 572

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CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Donation of surplus furniture to the Glendale Library, Arts & Culture Trust

1. Resolution authorizing the donation of surplus furniture to the Glendale Library, Arts & Culture Trust.

COUNCIL ACTION
Item Type: Consent Calendar
Approved for December 9, 2025 calendar

EXECUTIVE SUMMARY
Library, Arts & Culture proposes the donation of Surplus and Obsolete Materials, Equipment and Assets from multiple library locations listed in this report to be donated to the Glendale Library, Arts & Culture Trust, a 501c3 organization. The items included are furniture pieces and equipment that are worn, used, damaged, and/or are no longer needed.
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RECOMMENDATION
Approve resolution authorizing the donation of surplus furniture to the Glendale Library, Arts & Culture Trust.

ANALYSIS
Pursuant to Purchasing Policy 3-11, Section R, “Transfer and Disposal of Surplus and Obsolete Materials, Equipment and Assets”, no surplus or obsolete materials with the estimated value of $2,500 or more shall be donated without Council Approval. Library Arts & Culture (LAC) respectfully asks to donate the items listed below to the Glendale Library, Arts & Culture Trust (GLACT). The items included are pieces that are worn, used, damaged, and/or are no longer needed.

LAC is asking for these items to be donated to GLACT, a 501c3 non-profit organization whose mission is “to strengthen the Glendale Library, Arts & Culture Department through advocacy, financial support, and volunteer services”. To do this, GLACT holds “fundraisers for strengthening the public’s investment in the Library by bridging the gap between the cost of superior service, resources, and programs, and what the city provides”. To fulfill their mission, GLACT intends to sell the transferred LAC furniture to external parties, and in turn will donate the proceeds back to LAC to support library programs and services. In the past, GLACT and prior LAC support organizations have held “furniture sales” of surplus and obsolete materials to help generate revenue.

The following is a list of items LAC proposes to be donated to GLACT (Quantity, manufacturer/mfg, Glendale TAG number or equipment number, year of purchase):
One Avelina Meeting Table, wood, no tag/equipment number, 2017 Eight Demco acrylic book bins, clear, no tag/equipment number, 2015 One Eames molded fiberglass chair, bright blue, no tag/equipment number, 2016 Nineteen Eames molded fiberglass chair, navy blue, no tag/equipment number, 2016
Six Fatboy cushion block seating, black, no tag/equipment number, 2014 One Herman Miller wooden table, white/black, no tag/equipment number, unknown
Two JBL speakers, white, no tag/equipment number, 2016 Two Keilhauer curvy lounge seating, green, no tag/equipment number, 2016 Four Keilhauer fabric boomerang benches, blue, no tag/equipment number, 2016 Six Keilhauer vinyl boomerang benches, blue, no tag/equipment number, 2016 Seven Keilhauer fabric sofa (small), blue, no tag/equipment number, 2016 Four Keilhauer low round table, wood, no tag/equipment number, 2016 Five Keilhauer low round table with outlet, wood, no tag/equipment number, 2016 Ten Keilhauer low square table, wood, no tag/equipment number, 2016 Three Keilhauer low square table with outlet (small), white, no tag/equipment number, 2016
Two Keilhauer low square table (small), white, no tag/equipment number, 2016 One Keilhauer low square table (large), white, no tag/equipment number, 2016 59 of 572

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Four Keilhauer vinyl covered chair, green, no tag/equipment number, 2016 Thirteen Keilhauer vinyl covered chair, beige, no tag/equipment number, 2016 One Keilhauer corner seating with end tables, black/blue, no tag/equipment number, 2016
One Keilhauer fabric bench, blue, no tag/equipment number, 2016 One Keilhauer fabric right arm sofa, blue, no tag/equipment number, 2016 One Keilhauer fabric left arm sofa, blue, no tag/equipment number, 2016 One Keilhauer fabric armless sofa, blue, no tag/equipment number, 2016 One Lakeshore bookshelf, blue/white, no tag/equipment number, 2014 Eight Lunelaa Baleri-Italia seat cushions, blue/brown, no tag/equipment number, 2014
Thirty-Seven Lunelaa Baleri-Italia seat cushion covers, multi-colored, no tag/equipment number, 2008 and 2014
One mfg unknown round table, yellow, no tag/equipment number, prior to 2010 One mfg unknown sloped table with stools, wood/multi-colored, no tag/equipment number, before 2000
Three mfg unknown wooden table, wood, no tag/equipment number, unknown One mfg unknown aluminum chair, silver, no tag/equipment number, unknown One mfg unknown storage cabinet, white, no tag/equipment number, unknown One mfg unknown toy house with furniture, multi-colored, no tag/equipment number, 2019
One mfg unknown metal locker, gray, no tag/equipment number, 2019 One mfg unknown STEAM Space sign, multi-colored, no tag/equipment number, 2019
One mfg unknown plastic step stool, gray/black, no tag/equipment number, unknown
One mfg unknown tall counter, wood, no tag/equipment number, before 2000 One mfg unknown coffee table, white, no tag/equipment number, 2008 Six mfg unknown small block chairs, white/wood, no tag/equipment number, 2014 One mfg unknown desk, gray, no tag/equipment number, unknown - 2014 Four 9 to 5 Seating fabric chairs with wheels, green, no tag/equipment number, 2014
One Protégé subwoofer, black, no tag/equipment number, 2019 One Sitmatic office chair, green, no tag/equipment number, 2008 One TMC desk with playpen, wood, no tag/equipment number, unknown, 2023 Two Trendway gray tables with outlets, no tag/equipment number, 2014 If the Council adopts a resolution to donate the aforementioned items to GLACT, such donation will be “AS IS” with no warranties of any kind. The donation will also include a waiver of liability.

STAKEHOLDERS/OUTREACH
The LAC support organization GLACT has been consulted to ensure they will steward the transferred items appropriately and donate the proceeds back to LAC through their annual budget process.
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FISCAL IMPACT
There is no fiscal impact associated with this report.

ENVIRONMENTAL REVIEW (CEQA/NEPA)
The action being considered does not constitute a “project” within the meaning of the CEQA pursuant to CEQA Guidelines Section 15378(a) as it has no potential for resulting in either a direct physical change in the environment or a reasonable foreseeable indirect physical change in the environment.

CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.

ALTERNATIVES TO STAFF RECOMMENDATION

1. Decline to adopt a resolution to donate surplus furniture to the Glendale Library, Arts & Culture Trust.

2. The City Council may consider any other alternative not proposed by staff.

ADMINISTRATIVE ACTION
Submitted by:

Lessa Pelayo-Lozada, Director of Library, Arts & Culture Prepared by:

Lessa Pelayo-Lozada, Director of Library, Arts & Culture Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
None
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7 RESOLUTION NO. __________________

RESOLUTION OF THE COUNCIL OF THE CITY OF GLENDALE, CALIFORNIA,

AUTHORIZING THEIR DONATION OF SURPLUS FURNITURE TO THE GLENDALE

LIBRARY, ARTS & CULTURE TRUST
WHEREAS, the Library, Arts and Culture Department (LAC) has utilized library funds and grant sources to replace worn, used and damaged furniture and equipment; and WHEREAS, with the purchase of new furniture and equipment, the LAC has the following items which are unusable by the public but may still have re-sale value: 1 Avelina Meeting Table, wood; 8 Demco acrylic book bins, clear; 1 Eames molded fiberglass chair, bright blue; 19 Eames molded fiberglass chair, navy blue; 6 Fatboy cushion block seating, black;1 Herman Miller wooden table, white/black; 2 JBL speakers, white; 2 Keilhauer curvy lounge Seating, Green; 4 Keilhauer fabric boomerang benches, blue; 6 Keilhauer vinyl boomerang benches, blue; 7 Keilhauer fabric sofa (small), blue; 4 Keilhauer low round table, wood; 5 Keilhauer low round table with outlet, wood; 10 Keilhauer low square table, wood; 3 Keilhauer low square table with outlet (small), white; 2 Keilhauer low square table (small), white; 1 Keilhauer low square table (large), white; 4 Keilhauer vinyl covered chair, green; 13 Keilhauer vinyl covered chair, beige; 1 Keilhauer corner seating with end tables; 1 Keilhauer fabric bench, blue; 1 Keilhauer fabric right arm sofa, blue; 1 Keilhauer fabric left arm sofa, blue; 1 Keilhauer fabric armless sofa, blue; 1 Lakeshore bookshelf, blue/white; 8 Lunelaa Baleri-Italia seat cushions, blue/brown; 37 Lunelaa Baleri-Italia seat cushion covers; 1 manufacturer unknown round table, yellow; 1 manufacturer unknown sloped table with stools, wood/multi-colored; 3 manufacturer unknown wooden table, wood; 1 manufacturer unknown aluminum chair, silver; 1 manufacturer unknown storage cabinet, white; 1 manufacturer unknown toy house with furniture; 1 manufacturer unknown metal locker, gray; 1 manufacturer unknown STEAM Space sign, multi- colored; 1 manufacturer unknown plastic step stool, gray/black; 1 manufacturer unknown tall counter, wood; 1 manufacturer unknown coffee table, white; 6 manufacturer unknown small block chairs; 1 manufacturer unknown desk, gray; 4 9to5 Seating fabric chairs with wheels, green; 1 Protégé subwoofer, black; 1 Sitmatic office chair, green; 1 TMC desk with playpen, wood; 2 Trendway gray tables with outlets; and WHEREAS, the furniture and equipment will have re-sale value to the Glendale Library, Arts & Culture Trust; and
WHEREAS, the Glendale Library, Arts & Culture Trust is a 501c3 non-profit organization whose mission is “to strengthen the Glendale Library, Arts & Culture Department through advocacy, financial support, and volunteer services”; and WHEREAS, the Glendale Library, Arts & Culture Trust holds “fundraisers for strengthening the public’s investment in the Library by bridging the gap between the cost 62 of 572

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7 of superior service, resources, and programs, and what the city provides”; and WHEREAS, the Glendale Library, Arts & Culture Trust will re-sell the donated furniture and equipment, and donate all proceeds back to Library, Arts & Culture; and WHEREAS, pursuant to the City’s purchasing policy, no surplus or obsolete materials with the estimated value of $2,500 or more shall be donated without Council approval; and
WHEREAS, the City Council desires to donate above-listed furniture and equipment to the Glendale Library, Arts & Culture Trust.

NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GLENDALE:

The City Council does hereby authorize the City Manager to donate the above-listed furniture and equipment to the Glendale Library, Arts & Culture Trust. Said donation shall be subject to “AS IS” conditions with no warranties of any kind as well as a waiver of liability. The City Manager, or his designee, shall and is hereby directed to take any and all actions necessary to effectuate the intent of this resolution.

Adopted this ___________________ day of ___________________________, 2024. ____________________
Mayor
ATTEST:
________________________________
City Clerk

STATE OF CALIFORNIA )
) SS

COUNTY OF LOS ANGELES )
I, Suzie Abajian, Ph.D., City Clerk of the City of Glendale, certify that the foregoing Resolution No. ______________ was adopted by the Council of the City of Glendale, California, at a regular meeting held on the ____ day of ______, 2025, and that same was adopted by the following vote:

Ayes:
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7 Noes:

Absent:

Abstain:
____________________
City Clerk
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25-89114

CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Award Construction Contract for Glorietta Park Field Light Replacement Project

1. Motion authorizing the City Manager or his designee to execute a construction contract with Ace Electric, Inc., for the Glorietta Park Field Light Replacement Project, Specification No. 4025, in the amount of $246,100, plus a 10% contingency of $24,610.

COUNCIL ACTION
Item Type: Consent Calendar
Approved for December 9, 2025 calendar

EXECUTIVE SUMMARY
Following a formal competitive bidding process, the contractor, Ace Electric, Inc., was the lowest bidder for the Glorietta Park Field Light Replacement Project. This project involves the replacement of the existing field lighting system to improve visibility, safety, and energy efficiency for park users. In addition, the scope includes the replacement of one of the light poles that recently fell. These improvements will enhance the overall user experience for athletes and spectators alike. The cost of the proposed construction contract is $246,100 and a 10% reserve for contingencies of $24,610 is proposed.

RECOMMENDATION
Approve a motion authorizing a construction contract with Ace Electric, Inc., for the Glorietta Park Field Light Replacement Project, in the amount of $246,100, plus a 10% contingency of $24,610.

ANALYSIS
Glorietta Park Field, situated in the heart of Glendale, is a well-established community recreation facility that serves a wide range of users. A hub for local youth sports, including baseball, softball, soccer, and evening league play, the field hosts numerous practices, games, and community events throughout the year. Located adjacent to playgrounds, walking paths, and picnic areas, the field is a vital recreational anchor that supports healthy lifestyle and social gathering opportunities for neighborhood families.

The existing field lighting at Glorietta Park, originally installed over four decades ago, has become increasingly deficient. The aging metal-halide fixtures are prone to frequent bulb 65 of 572

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burnouts, provide uneven field illumination, and consume substantially more energy compared to modern alternatives. This results in higher utility costs, increased maintenance demands, and inconsistent visibility that can compromise gameplay and safety for players and spectators, especially during evening activities.

In recent months, one of the park's light poles collapsed due to structural fatigue exacerbated by weather exposure. While no injuries occurred, the failure exposed a critical safety risk and underscores the importance of ensuring structural integrity across the lighting system. The fallen pole has since been removed and stored off-site, leaving the field with an inadequate number of lighting fixtures to support safe evening use.

In response to these concerns, the city has prepared a comprehensive project to replace all existing field lights with new, energy-efficient LED fixtures. These modern LED systems offer superior performance benefits, including:
Uniform illumination across the playing surface, reducing shadows and glare Longer lifespans and significantly lower maintenance requirements Dramatically reduced energy consumption, translating into lower operational costs Improved color rendering, enhancing visibility and experience for athletes and fans Additionally, the project will replace the fallen pole with a structurally sound, engineered replacement designed to meet current building codes and withstand local environmental conditions. This proactive approach emphasizes public safety and visual consistency across the field.

Once implemented, the upgraded lighting infrastructure will deliver safer, more reliable, and cost-effective evening use of Glorietta Park Field—ensuring the facility continues to support community health and recreation well into the future.

On July 29, 2025, the City Council adopted the specifications and directed the City Clerk to advertise for bids.

On September 23, 2025, the Public Works Department hosted a mandatory job walk and six contractors attended.

On October 15, 2025, the city received three bids as follows:

1. Ace Electric, Inc. $246,100

2. Thru Electric, Inc. $354,174

3. Electro Construction, Inc. $541,000
After an extensive review, Public Works staff found that Ace Electric, Inc., has submitted a responsive bid and is deemed a responsible bidder. The proposed contract with Ace 66 of 572

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Electric, Inc., amounts to $246,100, with a 10% contract contingency of $24,610. This contingency is requested for unforeseen conditions related to existing electrical wiring within weathered galvanized conduits that have been in place for over 40 years.

Ace Electric, Inc., Inc., has a current State of California General-A, B, and C-10 Contractor’s Licenses that are active and in good standing.

The Glorietta Park Field Light Replacement Project is expected to take three months to complete.

STAKEHOLDERS/OUTREACH
The work will be coordinated with the contractor and the Community Services & Parks Department staff to minimize any disruptions to operations and the public.

FISCAL IMPACT
The Glorietta Park Field Light Replacement Project’s construction will cost $246,100, plus a 10% contingency of $24,610, for a not-to-exceed total of $270,710, which was approved as a part of the FY 2025-26 budget. No new appropriation is being requested at this time. The existing appropriation is outlined below:

Existing Appropriation
Amount Account String Funding Source
$270,710 GL: 51200-4010-CSP-0020-P0000
PL: PWD01223AN
Capital Improvement Fund
Department Cost Center Program
Community
Services & Parks
Projects

ENVIRONMENTAL REVIEW (CEQA/NEPA)
This project is Categorically Exempt under California Environmental Quality Act (CEQA) Guidelines §15301, existing facilities. The existing facilities exemption applies to “the operation, repair, maintenance, permitting, leasing, licensing or minor alteration of existing public or private structures, facilities, mechanical equipment, or topographical features, involving negligible or no expansion of existing or former use.” (CEQA Guidelines §15301).

CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.

ALTERNATIVES TO STAFF RECOMMENDATION
Alternative 1: Do not award the contract thereby deferring the improvements and maintaining the status quo conditions and use of this facility.

ADMINISTRATIVE ACTION
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Submitted by:

Daniel Hernandez, Director of Public Works
Prepared by:

Arthur Asaturyan, Senior Project Manager
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
Exhibit 1: Project Location Map
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MOTION
Moved by Council Member ,
seconded by Council Member , that the Council of
the City of Glendale finds that, Ace Electric, Inc., has provided the lowest responsive bid, and they are a responsible bidder, for the Glorietta Park Field Light Replacement Project, as described in Specifications No. 4025, and that the bid of Ace Electric, Inc. for the amount of $246,100, is hereby accepted and approved, as recommended by the Director of Public Works, and that all other bids be, and are, hereby rejected. The Council authorizes the City Manager or his designee to execute a contract, subject to approval as to form by the City Attorney, with Ace Electric, Inc., in the amount of $246,100. The Council further approves a reserve for contingencies in the amount of $24,610.

Votes as follows:

Ayes:

Noes:

Absent:

Abstain:
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CANADA BLVD

CLUB DRIVE

SAN GABRIEL AVE

HERMOSITA DR

SANTA ROSA AVE

SANTA MARIA AVE

SOMBRA DR

HERMOSITA DR

EL RITO AV

EL VISTA CT

MENLO DR

EL ARBOLITA

N VERDUGO RD

MENLO DR
RD

CANYON RD

GLEN DR

RISA DR

DELISLE CT

FLORENA CT ALLENJAY PL

POSITAS RD

DOWNING AVE

GLENCOE WY

VICKERS DR

CASTERA AVE

SPARR BLVD

MENLO DR
DR
MAR
DEL

HARMON PL

BAGDAD PL

EL ARBOLITA DR

EL ARBOLITA

MONTECITO DR

PAULA PL

WILLOW DR

ATWATER

LOCKWOOD RDMARCIA RD
RD

AMARILLO DR

RAFAEL TER

BAY BERRY DR

SPARR BLVD

OAKWOOD

RUSTIC LN

ALPHA RD

LOS ENCINOS AVE

VISTA DEL VERDE
PASA

MIRA VISTA DR

BOUGE DR

GLORIETTA AVE

WOODLAND AVE

SANTA BARBARA AVE

RAMONA AVE

GLORIETTA AVE

DON CARLOS AVE

WESTON PL

DEL VALLE AVE

RISA PL

RISA DR

SYLVAN LN

EL RITO AVE

OAKGLEN
AVE

OAKGLEN
DR
DR
VISTA

GLENDALE FWY

COUNTRYSAN GABRIEL

PROJECT LOCATION MAP

FREEWAY

NOT TO SCALE

PUBLIC WORKS DEPARTMENT

GLORIETTA PARK
LEGEND: GLORIETTA PARK PROJECT
EXHIBIT 1
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CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Shoseian Tea House Rehabilitation Project

1. Motion authorizing the City Manager or his designee to execute a construction contract with MODAA, Inc. (MODAA), for the Shoseian Tea House Rehabilitation Project, Specification No. 4024, in the amount of $211,000, plus a 10 percent contingency of $21,100.

2. Resolution of appropriation to appropriate funds for the Shoseian Tea House Rehabilitation Project.

COUNCIL ACTION
Item Type: Consent Calendar
Approved for December 16, 2025 calendar

EXECUTIVE SUMMARY
Following a formal competitive bidding process, the contractor MODAA was the lowest bidder for the Shoseian Tea House Rehabilitation Project. This project includes roof repairs, wood restoration, repainting, and drainage improvements, all in accordance with historic preservation standards. The proposed work will help preserve the structure’s integrity and enhance public use. The cost of the proposed construction contract is $211,000 and a 10% reserve for contingencies of $21,100 is proposed.

RECOMMENDATION
Approve the motion authorizing a construction contract with MODAA for the Shoseian Tea House Rehabilitation Project, in the amount of $211,000 with an additional 10 percent contingency of $21,100, plus a resolution of appropriation providing adequate funding for the project.

ANALYSIS
The Shoseian Whispering Pine Tea House, located in Brand Park, is a traditional Japanese structure gifted to the City of Glendale in 1974 as a symbol of friendship with its sister city, Higashiōsaka, Japan. Over the years, the structure has become an important cultural and educational resource, hosting tea ceremonies, public programs, and community events.

Due to prolonged exposure to the elements and limited repairs over time, the Tea House 71 of 572

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now exhibits signs of exterior deterioration. A recent site evaluation revealed several issues requiring attention, including cracked and weathered roof tiles, rotted wood beams, peeling paint, and poor drainage conditions that have contributed to moisture damage around the foundation.

The proposed rehabilitation project aims to address these deficiencies and preserve the structure’s integrity.

The scope of work includes:
Repair or replacement of damaged wood elements such as posts, beams, and fascia;
Roof tile replacement using historically appropriate materials; Repainting of exterior surfaces to match original color schemes; Replacing existing roof gutters;
Grading and drainage improvements around the perimeter to divert water away from the structure.

All work will adhere to the Secretary of the Interior’s Standards for the Treatment of Historic Properties to ensure historical accuracy and long-term preservation. Where possible, materials will be salvaged and reused to maintain authenticity.

By undertaking this project, the city will preserve a significant cultural landmark, enhance safety and usability, and ensure the continued enjoyment of the Tea House by residents and visitors. Public Works staff will proceed with construction coordination to minimize disruption and complete the work efficiently.

On August 26, 2025, the City Council adopted the plans and specifications and directed City Clerk to advertise for bids.

On September 25, 2025, the Public Works Department hosted a job walk, and 13 contractors attended.

On October 15, 2025, the City received six bids as follows:

1. MODAA Inc. $211,000

2. Golden Gate Construction $274,300

3. Union Construction Co. $318,200

4. Rainy Day Roofing $318,300

5. Spectra Historic Construction $456,632

6. KC Restoration $534,340
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After extensive review, Public Works staff found that MODAA has submitted a responsive bid and is deemed a responsible bidder. The proposed contract with MODAA amounts to $211,000, with a 10% contract contingency of $21,100 for a total not-to-exceed amount of $232,100. This contingency is requested to address any unforeseen conditions given a history of numerous water intrusions and potential deterioration of the underlying roofing assembly.

MODAA has current State of California General-A, B, C-33, and C-36 contractors licenses that are active and in good standing. MODAA has satisfactorily completed multiple projects with the city.

The Shoseian Tea House Rehabilitation Project is expected to take three months to complete.

STAKEHOLDERS/OUTREACH
The work will be coordinated with the contractor and the Community Services & Parks Department staff to minimize any disruptions to operations and the public, including the Friends of Shoseian organization that operates the Tea House.

FISCAL IMPACT
The Shoseian Tea House Rehabilitation Project will cost $211,000, plus a 10% contingency of $21,100, for a total not-to-exceed amount of $232,100, of which $183,000 was included as a part of the FY 2025-26 adopted budget. Therefore, staff is requesting an additional appropriation of $49,000 by shifting funding from an existing project within the Building Maintenance Fund. The appropriation requests are outlined below:

Existing Appropriation
Amount Account String Funding Source
$183,000 GL: 43110-6070-PWD-0020-P0000
PL: PWD01208AN
Building Maintenance Fund
Department Cost Center Program
Public Works Projects
Requesting Appropriation
Amount From (Account
String)
To (Account String) Funding Source
$49,100 GL: 43110-6070-0020
PL: PWD01209AN
GL: 43110-6070-
PWD-0020-P0000
PL: PWD01208AN
Building
Maintenance Fund
Department Cost Center Program
Public Works Projects

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features, involving negligible or no expansion of existing or former use.” (CEQA Guidelines §15301).

CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.

ALTERNATIVES TO STAFF RECOMMENDATION
Alternative 1: Do not award the contract thereby deferring the improvements and maintaining the status quo conditions and use of this facility which is subpar.

ADMINISTRATIVE ACTION
Submitted by:

Daniel Hernandez, Director of Public Works
Prepared by:

Arthur Asaturyan, Senior Project Manager
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
None.
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MOTION
Moved by Council Member ,
seconded by Council Member , that the Council of
the City of Glendale finds that, MODAA, Inc., has provided the lowest responsive bid, and they are a responsible bidder, for the Shoseian Tea House Rehabilitation Project, as described in Specifications No. 4024, and that the bid of MODAA, Inc. for the amount of $211,000, is hereby accepted and approved, as recommended by the Director of Public Works, and that all other bids be, and are, hereby rejected. The Council authorizes the City Manager or his designee to execute a contract, subject to approval as to form by the City Attorney, with MODAA, Inc., in the amount of $211,000. The Council further approves a reserve for contingencies in the amount of $21,100.

Votes as follows:

Ayes:

Noes:

Absent:

Abstain:
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RESOLUTIONNO.

RESOLUTIONOFTHECOUNCILOFTHECITYOFGLENDALE

MAKINGANAPPROPRIATION
BEITRESOLVEDBYTHECOUNCILOFTHECITYOFGLENDALE:

SECTION1:Thatthesumof$49,100isherebyappropriatedand/ortransferredfromthefollowing accountstothefollowingaccounts:

ACCOUNTSDESCRIPTIONFROMTO
43110-6070-PWD-0020-P0000ContractualServices,BuildingMaintenance$49,100 PWDO12O9ANFund,PublicWorks,MapleParkGym
CeilingReplacement
43110-6070-PWD-0020-P0000ContractualServices,BuildingMaintenance$49,100 PWDO12O8ANFund,PublicWorks,ShoseianTeaHouse
RehabilitationProject
ToappropriatefundingfortheShoseianTeaHouseRehabilitationProject.

SECTION2:TheDirectorofFinanceisauthorizedtomakesuchotherrevisions,individualappropriation line-items,changesinsummaries,fundtotals,grandtotals,andotherportionsofthebudgetdocumentas necessarytoreflectandimplementthechangesspecifiedinthisresolution.

SECTION3:TheCityClerkshallcertifytotheadoptionofthisResolution.

Adoptedthisdayof
________________
2025.

Mayor
ATTEST:

CITYOFGLENDALE
DATE11/20/25
___________________________

APPROVEDASTOELNANCIAL
CityClerkPROVISIONFORS49,100
DirectorofFinance

STATEOFCALIFORNIA)

COUNTYOFLOSANGELES)SS

CITYOFGLENDALE)
I,SuzieAbajian,CityClerkoftheCityofGlendale,doherebycertifythattheforegoingResolution No.wasadoptedbytheCounciloftheCityofGlendale,California,ataregularmeetingheldon the__________dayof
________________,
2025,andthatthesamewasadoptedbythefollowingvote:

Ayes:

Noes:

Absent:

Abstain:

CityClerk
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CITY OF GLENDALE, CALIFORNIA

REPORT TO THE SPECIAL CITY COUNCIL

AGENDA ITEM
Report: Development Impact Fees Annual Report

COUNCIL ACTION
Item Type: Consent Item
Approved for December 9, 2025 calendar

EXECUTIVE SUMMARY
The California Mitigation Fee Act mandates procedures for administration of impact fee programs, including collection and accounting, reporting, and refunds. Regarding reporting requirements, the Mitigation Fee Act requires annual reporting for each impact fee fund, and a separate five-year reporting process. This report meets the requirements for the Annual Report.
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RECOMMENDATION
Approve the resolution to accept the City of Glendale Annual Development Impact Fee Report for the Fiscal Year ended June 30, 2025. This report includes Development Impact Fee Disclosure Information for the Parks & Libraries Development Impact Fee and Housing Development Impact Fee for the Fiscal Year ended June 30, 2025, pursuant to California Government Code (GC) Section 66006.

ANALYSIS
California Government Code Section 66006 (b) (1) requires that within 180 days of the last day of each fiscal year, the local agency must make available to the public the following information for each separate account established to receive impact fee revenues:

A. A brief description of the type of fee in the account or fund.

B. The amount of the fee.

C. The beginning and ending balance of the account or fund.

D. The amount of the fees collected, and interest earned.

E. An identification of each public improvement on which fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of the public improvement that was funded with fees.

F.
i. An identification of an approximate date by which the construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete financing on an incomplete public improvement, as identified in paragraph (2) of subdivision (a) of Section 66001, and the public improvement remains incomplete.
ii. An identification of each public improvement identified in a previous report pursuant to clause (i) and whether construction began on the approximate date noted in the previous report.
iii. For a project identified pursuant to clause (ii) for which construction did not commence by the approximate date provided in the previous report, the reason for the delay and a revised approximate date that the local agency will commence construction.

G. A description of each interfund transfer or loan made from the account or fund, including the public improvement on which the transferred or loaned fees will be expended, and, in the case of an interfund loan, the date on which the loan will be repaid, and the rate of interest that the account or fund will receive on the loan.

H. The amount of refunds made pursuant to subdivision (e) of Section 66001, the number of persons or entities identified to receive those refunds, and any allocations pursuant to subdivision (f) of Section 66001.

The Annual Development Impact Fee Report presented meets all requirements and is in compliance with Government Code 66006. The key information included in the report is summarized below.
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The City deposits impact fees subject to the above disclosure in the Parks Mitigation Fee Fund (4050), Library Mitigation Fee Fund (4070), Parks Quimby Fee Fund (4080) and the Housing Development Impact Fee Fund (4110). Interest income was allocated to each fund based on their respective monthly cash balances.

Responding to the increased service demand related with development projects, expenditures from these funds were used for various projects to improve service facilities, expand service facilities, and maintain service level, consistent with the purpose and intended use of each fund and the approved Capital Improvement Plan. A full listing of these projects is included as a part of this report.

For FY 2024-25, the ending fund balances for each separate impact fee are listed below.

Parks Mitigation Fee $ 25,207,512
Library Mitigation Fee $ 18,685
Parks Quimby Fee $ 413,122
Housing Development Impact Fee $ 412,941

STAKEHOLDERS/OUTREACH
The annual report will be posted on the City’s website, under Development Impact Fee Reports.

FISCAL IMPACT
There is no fiscal impact for approving the resolution to accept the Annual Development Impact Fee Report.

ENVIRONMENTAL REVIEW (CEQA/NEPA)
This report is ministerial and does not require CEQA review. Any future development utilizing these funds would be reviewed at that time.

CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.

ALTERNATIVES TO STAFF RECOMMENDATION
Do not approve the resolution to accept the Development Impact Fee Report and provide staff with alternative directions.

ADMINISTRATIVE ACTION
Submitted by:

Jack Liang, Director of Finance
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Prepared by:

Linda Moossaian, Revenue Manager
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
Exhibit 1 – City of Glendale Annual Development Impact Fee Report for Fiscal Year Ended June 30, 2025
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RESOLUTION NO. __________

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GLENDALE TO ACCEPT

THE CITY OF GLENDALE ANNUAL DEVELOPMENT IMPACT FEE REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2025, DEVELOPMENT IMPACT FEE DISCLOSURE

INFORMATION FOR PARKS & LIBRARIES DEVELOPMENT IMPACT FEES AND HOUSING DEVELOPMENT IMPACT FEES FOR THE FISCAL YEAR ENDED JUNE 30, 2025, PURSUANT TO CALIFORNIA GOVERNMENT CODE SECTION 66006 et seq.

WHEREAS, pursuant to the Mitigation Fee Act (Government Code section 66000, et seq.), California Government Code section 66006(b)(1) requires that within 180 days of the last day of each fiscal year, the local agency must make available to the public at a public meeting the following information for each separate account established to receive impact fee revenues; and WHEREAS, the Mitigation Fee Act requires certain findings be made regarding unexpended development impact fees in connection with consideration of the annual development impact fee report; and
WHEREAS, the Annual Development Impact Fee report for FY 2024-25 identifies impact fee programs for which are unexpended development impact fees for which findings are required.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GLENDALE, as follows:

SECTION 1. The City Council approves the Annual Development Impact Fee Report for FY 2024-25.

SECTION 2. The City Council finds the following as required by Government Code section 66001(d) and based upon review of the Annual Development Impact Fee Report for FY 2024-25:

A.That the purpose of the development impact fees has been identified.

B.That there is a continued need for the improvements and that there is a reasonable relationship between the fees and the impacts for development for which the fees are collected.

C.The sources and amounts of funding anticipated to complete the financing of improvements have been identified.

D.The approximate dates for funding improvements are included in the City’s Adopted Budget of FY2024-25 Capital Improvements programs unless the improvements are longer term projects.

Adopted this _______ day of __________________________, 2025. ____________________________
Mayor
ATTEST:
____________________________
City Clerk
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STATE OF CALIFORNIA )
) SS

COUNTY OF LOS ANGELES )
I, SUZIE ABAJIAN, PhD, City Clerk of the City of Glendale, certify that the foregoing Resolution was adopted by the City Council of the City of Glendale, California, at a special meeting held on the ___________ day of _________________, 2025, and that same was adopted by the following vote:

Ayes:

Noes:

Absent:

Abstain:
____________________________
City Clerk
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City of Glendale

Annual Development Impact Fee Report
Fiscal Year Ended June 30, 2025

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2 TABLE OF CONTENTS

Page

1. Development Impact Fee Report

1.1 Annual Report ………………………………………………………………. 3

2. Current Impact Fees

2.1 Types of Impact Fees and Impact Fee Funds …………………. 4

2.2 Current Impact Fees ……………………………………………………… 5

3. Financial Summary Report ………………………………………………………….. 6

4. Public Improvements …………………………………………………………………. 7

5. Interfund Loans ………………………………………………………………………….. 7

6. Refunds ……………………………………………………………………………………… 7

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3 1. DEVELOPMENT IMPACT FEE REPORT

The California Mitigation Fee Act (Government Code Sections 66000 et seq.) mandates procedures for administration of impact fee programs, including collection and accounting, reporting, and refunds. Regarding reporting requirements, the Mitigation Fee Act requires annual reporting for each impact fee fund, and a separate five-year reporting process.

This report meets the requirements described in 1.1 Annual Report, below.

1.1 Annual Report

California Government Code Section 66006 (b) (1) requires that within 180 days of the last day of each fiscal year, the local agency must make available to the public the following information for each separate account established to receive impact fee revenues:

A. A brief description of the type of fee in the account or fund. (report section 2) B. The amount of the fee. (report section 2)
C. The beginning and ending balance of the account or fund. (report section 3) D. The amount of the fees collected, and interest earned. (report section 3) E. An identification of each public improvement on which fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of the public improvement that was funded with fees. (report section 4)
F. (i) An identification of an approximate date by which the construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete financing on an incomplete public improvement, as identified in paragraph (2) of subdivision (a) of Section 66001, and the public improvement remains incomplete;
(ii) An identification of each public improvement identified in a previous report and pursuant to clause (i) and whether construction began on the approximate date noted in the previous report; (iii) For a project identified pursuant to clause (ii) for which construction did not commence by the approximate date provided in the previous report, the reason for the delay and a revised approximate date that the local agency will commence construction. (report section 4)
G. A description of each interfund transfer or loan made from the account or fund, including the public improvement on which the transferred or loaned fees will be expended, and, in the case of an interfund loan, the date on which the loan will be repaid, and the rate of interest that the account or fund will receive on the loan. (report section 5)
H. The amount of refunds made pursuant to subdivision (e) of Section 66001, the number of persons or entities identified to receive those refunds, and any allocations pursuant to subdivision (f) of Section 66001. (report section 6)

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4 2. CURRENT IMPACT FEES

2.1 Types of Impact Fees and Impact Fee Funds
The fees documented in the body of this Annual Development Impact Fee Report (Report) include those listed below.

The revenue and expenditures for each fee type are tracked by the City in separate funds.

Table 1. Impact Fee Funds
Fund No. Fund/Fee Name Purpose and Use of the Fee
4050 Parks Mitigation Fee Fund
This fund accounts for fees imposed on new residential, commercial, and industrial developments to mitigate the cost of developing new parks and rehabilitating existing parks and recreational facilities. Fees are received by collection from new commercial, office, industrial, and residential development.
4070 Library Mitigation Fee Fund
This fund accounts for fees imposed on new residential, commercial, and industrial developments to maintain
adequate library services for new residents by mitigating the cost of developing new libraries and/or adding to
existing collections. Fees are received from applicants as a condition of the issuance of permits for new development. 4080 Parks Quimby Fee Fund
This fund accounts for fees imposed on new residential
subdivisions to mitigate the cost of developing new parks and rehabilitating existing parks and recreational facilities.

A development impact fee is imposed as a condition of
approval for a tentative tract map or tentative parcel map for residential developments only. If the Quimby fee
assessed to the residential development project equals or exceeds $1.0 million, the developer may request to
dedicate land, either on-site or off-site, and develop a park in lieu of payment of said fee. Collection of fees is based on new residential subdivisions.
4110 Housing Development Impact Fee Fund
This fund accounts for fees imposed on new commercial
developments to mitigate the cost of developing new
affordable housing and rehabilitating existing housing
and/or performing adaptive re-use projects for affordable housing. Collection of fees is from commercial
developers.

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5 2.2 Current Impact Fees

Development impact fees (DIFs) in the City of Glendale are one-time charges levied on new development to fund various parks, libraries, and housing development projects. Table 2 provides the list of impact fees charged by the City in Fiscal Year 2025, per Resolutions 19-47, 14-10, 17-95.

Table 2. Impact Fees Schedule Fiscal Year 2024-25
Fund Fee Name FY 2024 Fee Amount
Parks Mitigation Fee Fund and
Library Mitigation Fee Fund
Residential: Single Family $21,828 (per Dwelling
unit)
Residential: Multi-Family $18,751 (per Dwelling
unit)
Residential: Accessory Dwelling Units (ADU) (<= 750 sq ft)
$4,700 (per Dwelling
unit)
Non-Residential: Commercial $6.50 (per square foot)
Non-Residential: Office $7.92 (per square foot)
Non-Residential: Industrial $3.24 (per square foot)
Pipeline Projects ONLY Mitigation-Residential: Single
Family
$7,000 (per Dwelling
unit)
Pipeline Projects ONLY Mitigation-Residential: Multi-
Family
$7,000 (per Dwelling
unit)
Pipeline Projects ONLY Mitigation-Residential:

Commercial $2.67 (per square foot)
Pipeline Projects ONLY Mitigation-Residential: Office $3.26 (per square foot) Pipeline Projects ONLY Mitigation-Residential:

Industrial $1.33 (per square foot)
Appeal $500 (per Appeal)
Parks Quimby Fee Fund
Residential: Single Family $19,795 (per Dwelling
unit)
Residential: Multi-Family $17,006 (per Dwelling
unit)
Pipeline Projects ONLY Quimby-Residential: Single
Family
$7,000 (per Dwelling
unit)
Pipeline Projects ONLY Quimby-Residential: Multi-
Family
$7,000 (per Dwelling
unit)
Housing Development Impact Fee
Fund
Affordable Housing Commercial Development Impact
Fee $4 (per square foot)

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6 3. FINANCIAL SUMMARY REPORT

The following financial summary provides an annual statement of revenues, and changes in fund balance for each impact fee fund, for the Fiscal Year End June 30, 2025. Figures shown in the table below are unaudited as of the date of this report.

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7 4. PUBLIC IMPROVEMENTS

Exhibit A – Exhibit D of the Annual Report identify each public improvement on which fees were expended and the amount of the expenditures on each improvement, including the percentage of the cost of the public improvement that was funded with fees.

The Mitigation Fee Act also requires annual identification of the approximate date by which the construction of a public improvement will commence, if the City determines sufficient funds have been collected to completed financing of an incomplete public improvement. The projects listed above represent active uses of impact fee funds to complete current capital improvement projects.

5. INTERFUND LOANS

The Mitigation Fee Act requires a description of each inter-fund transfer or loan made from the account or fund, including interest rates, repayment dates, and a description of the improvement on which the transfer or loan will be expended. There were no new or existing interfund transfers or loans made from or between impact fee fund accounts in Fiscal Year 2025.

6. REFUNDS

The refunding requirements for the Mitigation Fee Act are summarized as follows:

Refunds under the Mitigation Fee Act: If the City determines that sufficient funds have been collected to complete financing on incomplete improvements for which impact fee revenue is to be used, it must, within 180 days of that determination, identify an approximate date by which construction of the public improvement will be commenced (Government Code Section 66001 (e)). If the agency fails to comply with that requirement, it must refund impact fee revenue in the account according to procedures specified in Section 66001 (d).

As discussed in Section 4 of this report, determinations regarding sufficient funds collected to complete incomplete improvements are provided by the City’s annual Capital Improvement Plan. Other than those listed above in Section 4 for which approximate construction dates have been provided, the City has not made a determination that sufficient funds have been collected to complete financing of any other incomplete public improvements. No refunds of impact fee monies were made or required.
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Table 4. Impact Fees Schedule Fiscal Year 2024-25 Exhibit A (a) (b) (b)/(a)
Fund/
Account Fund/Account Name Project Name
Project
Number Description
Project Start
FY
Estimated
Project Finish
FY
Project Phase
as of 6/30/2025
Total Budgeted
Project Cost
Total Project Budget
Funding Sources
Total Budgeted
Impact Fee Funded
Amount
% Impact Fee
Funded
Total Prior Year
Impact Fee
Expenditures
Total Impact Fee
FY 2025
Expenditures
Impact Fee
Funding
Remaining
4050 Parks Mitigation Fee Deukmejian Nature Education Center 51837 Le Mesnager Barn in Deukmejian Wilderness Park
will become a nature education center and
community building with a focus on the natural and
human history of the Crescenta Valley and San
Gabriel Mountains. Building is leaking after
construction, funds being used to evaluate and
repair the leak.
2012-2013 2024-2025 Evaluation 3,000,000$ General Fund DIF Fund $ 2,500,000 83% $ 2,416,882 $ 4,600 $ 78,518 4050 Parks Mitigation Fee Outdoor Fitness Equipment 51841 City parks will be evaluated for the installation of
exercise equipment for use by adults, seniors, and
people with disabilities. Heavy-duty equipment can
be scattered through a park as part of an exercise
path or clustered in single area like an outdoor gym.
2012-2013 2024-2025 Planning 110,000$ DIF Fund $ 110,000 100% $ 70,306 $ - $ 39,694 4050 Parks Mitigation Fee Fremont Park Renovation Design 51873 Renovate the entire park, including new playground,
water play feature, a U12 artificial turf soccer field, picnic shelters, free standing restroom, pickle ball
and basketball courts, walking paths, as well as a
new community building with a tennis concession
office, patio area, restrooms accessible from the
outside and art in the park.
2013-2014 2025-2026 Construction 27,283,110$
DIF Fund
General Fund
CIP Reimb - Grant Funds
Electric Depreciation
Funds
$ 10,353,444 38% $ 3,259,407 $6,325,069.80 $ 768,967 4050 Parks Mitigation Fee Central Park Plaza 51892 As part of Central Park project, the existing surface
parking lot will be replaced with a plaza and
activated with community programming. The plaza
will also connect ARC, library and park to the paseo
that leads to Brand Boulevard and ultimately
connects to the Americana.
2013-2014 2026-2027 Bidding 14,250,000$ DIF Fund General Fund $ 2,250,000 16% $ 1,141,948 $ 163,929 $ 944,123 4050 Parks Mitigation Fee Verdugo Park Renovation 52020 Renovate north end of Verdugo Park including
replacing the playground, renovating the restroom
and constructing a new community building.
2015-2016 2026-2027 Construction
Drawings 2,899,853$ DIF Fund
General Fund $ 2,000,000 69% $ 138,026 $ - $ 1,861,974 4050 Parks Mitigation Fee Fitness in the Park 52031 Install outdoor fitness equipment at Central Park, Glendale Heritage Garden and Pacific Park 2014-2015 2024-2025 Planning 195,000$ DIF Fund Grant Funds $ 40,000 21% $ 75 $ - $ 39,925 4050 Parks Mitigation Fee Wilson Middle School Multi-Purpose 52077 Joint Use project with GUSD to renovate the Wilson
Middle School field to artificial turf to use as a multi- purpose field after school hours.
2016-2017 2024-2025 Closed 277,183$ DIF Fund 277,183$ 100% $ 277,183 $ - $ - 4050 Parks Mitigation Fee Cerritos Elementary Multi-Purpose 52105 Joint Use project with GUSD to renovate the
Cerritos Elementary School field to artificial turf and upgrade the existing park restroom building to
increase capacity.
2016-2017 2024-2025 Closed 133,984$ DIF Fund 133,984$ 100% $ 133,984 $ - $ - 4050 Parks Mitigation Fee Land Acquisition for a New Park CSP00422BN Purchase land for the expansion of existing parks or development of new parks. 2023-2024 2025-2026 Planning 24,700,000$ DIF Fund
General Fund
Grant Fund
$ 20,378,033 83% $ - $ - $ 20,378,033 4050 Parks Mitigation Fee Dog Park CSP00791AN Plan, design and build a dog park in Glendale 2021-2022 2026-2027 Planning 308,150$ DIF Fund $ 308,150 100% $ 17,883 $ - $ 290,268 4050 Parks Mitigation Fee Feasibility Study for a Dog Park CSP00956AN Feasibility study of various parks to build a dog park 2022-2023 2024-2025 Planning 57,496$ DIF Fund Meas A Grant Fund $ 41,850 73% $ 38,312 $ - $ 3,538 4050 Parks Mitigation Fee Pacific Park Playground & Pool Shade StructurePWD01099AN Install shade over playground and pool at Pacific Park & Pool2023-2024 2024-2025 Completed 3,003,286$ CDBG Fund
General Fund
DIF Fund
$ 731,322 24% $ 56,286 $ 675,036 $ - 90 of 572

Table 4. Impact Fees Schedule Fiscal Year 2024-25 Exhibit B (a) (b) (b)/(a)
Fund/
Account Fund/Account Name Project Name Project Number Description Project Start FY Estimated Project
Finish FY
Project Phase
as of
6/30/2024
Total Budgeted
Project Cost
Total Project Budget
Funding Sources
Total Budgeted
Impact Fee
Funded Amount
% Impact Fee
Funded
Total Prior Year
Impact Fee
Expenditures
Total Impact
Fee FY 2025
Expenditures
Impact Fee
Funding
Remaining
4070 Library Mitigation Fee Dev Imp Fee-2012 Collection Ad 51863 Purchase of additional Library Books to supplement Library Collections.
2013-2014 2026-2027 Active 1,455,304$ DIF Fund 1,455,304$ 100% 1,244,041$ 211,263$ -$ 4070 Library Mitigation Fee Central Library Improvements LAC00635AN Library improvements and extension of services (budget reduced and moved to LAC 00942CN)
2021-2022 2026-2027 Active 412,381$ DIF Fund 412,381$ 100% 241,724$ 150,276$ 20,381$ 4070 Library Mitigation Fee Central Building Forward LAC00942CN Library improvements and extension of services. 2022-2023 2023-2024 Active 12,630,656$ DIF Fund Library Fund
376,619$ 3% 376,619$ -$ -$ 91 of 572

Table 4. Impact Fees Schedule Fiscal Year 2024-25 Exhibit C (a) (b) (b)/(a)
Fund/Ac
count Fund/Account Name Project Name
Project
Number Description
Project Start
FY
Estimated
Project Finish
FY
Project Phase
as of 6/30/2025
Total Budgeted
Project Cost
Total Project Budget
Funding Sources
Total Budgeted
Impact Fee Funded
Amount
% Impact Fee
Funded
Total Prior Year
Impact Fee
Expenditures
Total Impact Fee
FY 2025
Expenditures
Impact Fee
Funding
Remaining
4080 Parks Quimby Fee Emerald Isle Playground Replacement CSP00941BN Replace playground, install pour in place surfacing and ADA improvements. 2022-2023 2024-2025 Completed $ 866,987 DIF Fund
Meas A Grant Fund
General Fund
$ 200,000 23% $ 1,880 $ 198,120 $ - 92 of 572

Table 4. Impact Fees Schedule Fiscal Year 2024-25 Exhibit D (a) (b) (b)/(a)
Fund/
Account Fund/Account Name Project Name
Project
Number Description
Project Start
FY
Estimated
Project Finish
FY
Project Phase
as of 6/30/2024
Total Budgeted
Project Cost
Total Project Budget
Funding Sources
Total Budgeted
Impact Fee
Funded Amount
% Impact Fee
Funded
Total Prior Year
Impact Fee
Expenditures
Total Impact Fee
FY 2024
Expenditures
Impact Fee
Funding
Remaining
4110 Housing Development
Impact Fee None
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25-89166

CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Library Connection @ Adams Square at 1100 Chevy Chase Drive Lease Agreement Renewal

1. Motion approving fourth amendment to extend the lease agreement with Neighborhood Legal Services for Library Connection @ Adams Square

COUNCIL ACTION
Item Type: Consent Item
Approved for December 9, 2025 calendar

EXECUTIVE SUMMARY
Since 2005, Neighborhood Legal Services of Los Angeles County (NLS) has been providing rental space at 1100 Chevy Chase Drive for Library Connection @ Adams Square. Library Arts & Culture Department (LAC) is requesting to extend the lease agreement with NLS with a fourth amendment for an additional five years with an option to renegotiate the rental increase for the final three years. 94 of 572

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RECOMMENDATION
That the City Council approves a fourth amendment to extend the lease agreement with Neighborhood Legal Services for Library Connection @ Adams Square at 1100 Chevy Chase Drive for an additional five-year renewal, with an option for the Library to renegotiate the rental increase for the final three years.

ANALYSIS
In August of 2005, the City Council approved the establishment of a storefront library in southeast Glendale and directed staff to enter into lease negotiations with Neighborhood Legal Services, the owner of a space located at 1100 Chevy Chase Drive. City Council approved the lease agreement in January 2006.

Library Connection at Adams Square opened in 2008 and has been operating as a successful branch library since its inception.

The original lease was for a five-year period from April 2006 to March 2011. The City exercised the option in the lease agreement to extend it for an additional five years from April 2011 to March 2016.

In 2016, the Council approved lease Amendment No. 1, which extended the lease for an additional five years from April 2016 to March 2021.

In 2021, the Council approved lease Amendment No. 2, which extended the lease for an additional three years from April 1, 2021, to March 31, 2024, with an option to extend it for an additional two-year period until March 31, 2026. The City exercised the option to extend the lease until March 31, 2026 with Amendment No. 3.

The Library, Arts & Culture Department and NLS wish to extend the lease for an additional five-year renewal commencing April 1, 2026 and ending March 31, 2031, with the following terms:
Three percent (3%) increase for the first two years, from April 1, 2026, to March 31, 2028.
Three and one-half percent (3.5%) increase for the remaining contract years, from April 1, 2028 to March 31, 2031, with the opportunity to request renegotiation of the April 1, 2028 rental increase on or before January 3, 2028.

At that time, parties will agree to the rental increase for the remaining three years of the contract, or another amount as negotiated.
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The following table provides details of the annual rent increase and renegotiation opportunity:

Fiscal Year Increase Annual Rate
April 2025-March 2026 (current lease) 2.5% $73,521.46
April 2026-March 2027 3.0% $75,727.10
April 2027-March 2028 3.0% $77,998.92
January 3, 2028- Library connection has option to request to renegotiate the following increases:

April 2028-March 2029 3.5% $80,728.88
April 2029-March 2030 3.5% $83,554.39
April 2030-March 2031 3.5% $86,478.79

STAKEHOLDERS/OUTREACH
Over the last two fiscal years, FY23-24 and FY24-25, 43,139 patrons visited Library Connection @ Adams Square, to study, access computers and wifi, and attend programs, all for free. During that same period, the library circulated 30,298 physical items. Although it serves all Glendale residents and surrounding communities, Library Connection @ Adams Square primarily serves the residents of Southeast Glendale, with Pacific Park Library as the next closest location.

FISCAL IMPACT
The cost of extending the lease for April 2026 through June 2026 is $18,932. Of this amount, $18,380 was included in the FY 2025-26 budget per the table below. The remaining amount of $552 will be transferred from another category within the department’s discretionary budget. No additional funds are being requested at this time. 96 of 572

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Existing Appropriation
Amount Account String Funding Source
$18,932 46006-1010-LAC-6002-P4112 General Fund
Department Cost Center Program
Library, Arts &
Culture
Adams Square Library Connect

ENVIRONMENTAL REVIEW (CEQA/NEPA)
Because no possibility exists that the activity in question may have a significant effect on the environment, the activity is not subject to CEQA review under the common sense exemption set forth in 14 Cal. Code Regs. § 15061(b)(3).

CAMPAIGN DISCLOSURE
In accordance with the City Campaign Finance Ordinance No. 5744, the names and business addresses of the members of the board of directors, the chairperson, CEO, COO, CFO, Subcontractors and any person or entity with more than ten percent interest in the company proposed for contract in this agenda item Report are attached in Exhibit

3. ALTERNATIVES TO STAFF RECOMMENDATION

1. Deny the request to extend the lease agreement with Neighborhood Legal Services for Library Connection @ Adams Square. Denial of the request will result in closure of the library branch, prohibiting Southeast Glendale residents from easy access to in-person library services and programs.

2. The City Council may consider any other alternative not proposed by staff.

ADMINISTRATIVE ACTION
Submitted by:

Lessa Pelayo-Lozada, Director of Library, Arts & Culture Prepared by:

Armineh Hoonanian, Principal Administrative Officer
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
Exhibit 1: Lease
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Exhibit 2: Amendment No.3
Exhibit 3: Campaign Disclosure Form
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2 M O T I O N
Moved by Council Member ________________________________, seconded by Council Member ___________________________________, that the Council of the City of Glendale hereby authorizes the City Manager, or his designee, to enter into and execute Amendment No. 4 to the existing lease with Neighborhood Legal Services of Los Angeles County – on the terms and conditions outlined in the Director of Library, Arts, and Culture’s December 9, 2025 Report to the City Council, and subject to the City Attorney’s approval – for the Library, Arts and Culture Department’s rental of 1100 Chevy Chase Drive, for its branch library, Library Connection @ Adams Square.

Vote as follows:

Ayes:

Noes:

Absent:

Abstain:

THE MOTION WAS ADOPTED AT THE REGULAR CITY COUNCIL MEETING OF:
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CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Glendale Municipal Code Amendment Pertaining to Selection of the Mayor

1. Introduction of Ordinance of the Council of the City of Glendale, California Amending Section 2.04.020 of the Glendale Municipal Code, 1995, Relating to the Mayoral Selection Process

COUNCIL ACTION
Item Type: Action Item
Approved for December 9, 2025 calendar

EXECUTIVE SUMMARY
As directed by the Council, the City Attorney’s Office presents an ordinance for introduction and adoption that will amend the mayoral selection process set forth in Glendale Municipal Code Section 2.04.020. If adopted, the ordinance will revise the mayoral selection process by eliminating the provisions pertaining to the order of precedence of mayoral selection. The ordinance provides two options for moving the mayoral selection date from April to July, either commencing in 2026 or 2027. The draft ordinance also provides an additional alternative for Council consideration (which can be incorporated into either the 2026 or 2027 selection commencement) where if the codified mayor selection date is within 30 days of the certification of the general municipal election results by the Council and the swearing in of the newly elected councilmember(s), then the mayor selection will take place on the same date of the certification and swearing in. Lastly, the ordinance will also bifurcate the mayor selection from the date the new mayor takes office by providing that the mayor’s appointment becomes effective at the regular meeting following the meeting where the mayor is selected.
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29a
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RECOMMENDATION
Staff recommends the Council introduce and adopt the ordinance.

ANALYSIS
On March 30, 2021, the Council adopted Ordinance No. 5963, amending the Glendale Municipal Code (“GMC”) relating to the annual selection of the mayor. GMC Section

2.04.020 provides for an order of precedence for selection of mayor based on longest continuous service since last serving as Mayor, limitations on appointments, and a “best interest” clause that permits the Council to make a selection that it deems to be in the City’s best interest.

Elimination of Mayoral Selection Process
On July 1, 2025, the Council reviewed Section 2.04.020 as well as alternative language that could be considered to address concerns raised regarding its implementation and fairness. Ultimately, the Council directed staff to prepare an ordinance amending Section 2.040.020 that will remove the selection policy from the GMC; the Council will select the mayor by majority vote with no restrictions on who can be selected.

Change of Mayoral Selection Date to July
The Council also directed a change to the mayoral selection date from April to July. This is intended to allow councilmembers elected in June during statewide primary election years to participate in the mayor selection for the upcoming year. As requested, two options are presented for when the new mayor selection date will occur, in 2026 or 2027:

Option 1 – 2026
Commencing in 2026, the date and time for selection of the mayor shall be during the first regular meeting of the council occurring after the third Monday of July of each year.

Option 2 - 2027
In 2026, the date and time for the selection of the mayor shall be during the first regular meeting of the council occurring after the first Monday in April. Commencing in 2027, the date and time for selection of the mayor shall be during the first regular meeting of the council occurring after the third Monday of July of each year.
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Staff recommends that if the mayoral selection date is moved to July, then it should be after the third Monday in July to provide sufficient time after the June statewide primary elections for the new Council to be sworn in. Los Angeles County has up to 30 days to certify election results which then must be approved by the Council. In the past, the County has taken the full 30 days.

Mayoral Selection Date within 30 days of Certification of General Election Results and Swearing In of Newly Elected Councilmember(s) Alternatively, the draft ordinance includes an option where mayoral selection will be on the same date as the Council’s certification of the general election results and swearing in of the newly elected councilmember(s) if the mayor selection date will otherwise occur within 30 days of said certification and swearing in. This will be applicable to the June municipal elections. This alternative can be incorporated into either option 1 or 2.

Effective Date of Mayoral Appointment
As directed by the Council, the ordinance will also amend the GMC to make the mayoral appointment effective at the regular meeting after the mayor is selected.

STAKEHOLDERS/OUTREACH
Not applicable.

FISCAL IMPACT
There is no fiscal impact associated with this report.

ENVIRONMENTAL REVIEW (CEQA/NEPA)
This activity involves organizational and administrative activities of the government related to the process for selecting the mayor, and such internal procedural changes have no potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment. As such, this action is not a “project” subject to the requirements of the California Environmental Quality Act (CEQA) 14 Cal. Code Regs § 15378.

CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.

ALTERNATIVES TO STAFF RECOMMENDATION

1. The Council can choose not to introduce and adopt the ordinance amending GMC Section 2.04.020, in which case the current mayoral selection policy will remain in place.

2. The Council can choose an alternative not identified by staff. 159 of 572

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ADMINISTRATIVE ACTION
Submitted by:

Michael J. Garcia, City Attorney
Prepared by:

Michael J. Garcia, City Attorney
Dorine Martirosian, Principal Assistant City Attorney
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
None.
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1 ORDINANCE NO.____________

AN ORDINANCE OF THE COUNCIL OF THE CITY OF GLENDALE,
CALIFORNIA AMENDING SECTION 2.04.020 OF THE GLENDALE
MUNICIPAL CODE, 1995, RELATING TO MAYORAL SELECTION PROCESS WHEREAS, the City of Glendale (City) Councilmembers are elected at-large and serve four-year terms; and
WHEREAS, in April of each year, the City Council appoints one of its own members to serve as Mayor for the following year, pursuant to the City’s Charter, Article IV, Section 5(4); and
WHEREAS, on March 30, 2021, after having considered a staff report wherein 134 municipalities were surveyed relating to best practices governing procedures for the selection of Mayor, the City Council adopted Ordinance 5963 amending Glendale Municipal Code, 1995 (“GMC”) Section 2.04.020, establishing criteria and procedures to be considered and followed by the City Council in selecting a Mayor each year; and WHEREAS, on July 1, 2025, after considering various alternatives, the City Council directed that the City Attorney prepare an ordinance to amend GMC Section 2.04.020 to:
Eliminate the provisions pertaining to order of precedence of mayoral selection contained in subsections B through H.
Revise the date of mayoral selection from April to July, with options for the effective date of the new July selection date.
Provide for the seating and appointment of the mayor to be effective at the first regular meeting after the council meeting where the Council selects the new mayor; and
WHEREAS, the City Council has considered the reports dated July 1, 2025 and August 19, 2025 by the City Attorney presenting the above as directed by Council, and by this Ordinance amends the provisions of Glendale Municipal Code, 1995 (GMC) Section

2.04.020 relating to the Mayor selection process.

NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GLENDALE:

SECTION 1. The above recitals are true and correct.

SECTION 2. Section 2.04.020 of the Glendale Municipal Code, 1995, regarding Selection of mayor, is hereby amended to read as follows:
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2 “2.04.020 Selection of Mayor
Pursuant to Article VI, Section 5(4) of the Charter, the council shall annually select one of its members to be the mayor, in accordance with the procedures set forth herein.

The date and times for appointment shall be during the first regular meeting of the council after the first Monday in April of each year. The mayor shall serve as presiding officer and perform the other duties of mayor at the pleasure of the council. [July selection – Option 1: July selection commences in 2026] A. Commencing in 2026, the date and time for selection of the mayor shall be during the first regular meeting of the council occurring after the third Monday of July of each year.

B. The appointment of the mayor shall become effective and the mayor’s term shall commence at the next regular meeting occurring after the council meeting where the council selects the new mayor.
[July selection – Option 2: July selection commences in 2027] A. In 2026, the date and time for the selection of the mayor shall be during the first regular meeting of the council occurring after the first Monday in April.

Commencing in 2027, the date and time for selection of the mayor shall be during the first regular meeting of the council occurring after the third Monday of July of each year.

B. The appointment of the mayor shall become effective and the mayor’s term shall begin at the next regular meeting occurring after the council meeting where the council selects the new mayor.”
[July selection – Option 3: July selection commences in 2026, with alternative to selection on same date of certification of general election results and swearing in of newly elected councilmember(s)]
A. Commencing in 2026, the date and time for selection of the mayor shall be during the first regular meeting of the council occurring after the third Monday of July of each year, subject to subsection B.

B. In the event the mayor selection under subsection A would occur within 30 days of the Council’s certification of the results of the general municipal election in the month preceding the scheduled mayor selection date, then the mayor selection shall occur on the same date as certification of said general municipal election and swearing in of newly elected councilmembers.
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3 C. The appointment of the mayor shall become effective and the mayor’s term shall commence at the next regular meeting occurring after the council meeting where the council selects the new mayor.
[July selection – Option 4: July selection commences in 2027 with alternative to selection on same date of certification of general election results and swearing in of newly elected councilmember(s)]
A. In 2026, the date and time for the selection of the mayor shall be during the first regular meeting of the council occurring after the first Monday in April.

Commencing in 2027, the date and time for selection of the mayor shall be during the first regular meeting of the council occurring after the third Monday of July of each year subject to subsection B.

C. The appointment of the mayor shall become effective and the mayor’s term shall begin at the next regular meeting occurring after the council meeting where the council selects the new mayor.”
B. The council shall select and appoint a mayor to serve for the upcoming year in the following order of precedence:

1. The councilmember with the longest, continuous uninterrupted service on the council since last serving as mayor, and who is not serving as the mayor at the time of mayoral selection, shall be selected as mayor.

2. In the event of a tie between councilmembers with the longest continuous service since last serving as mayor as set forth in subsection (B)(1), the councilmember who received the most votes in the councilmembers' most recent election shall be selected mayor. In the event the tie is between councilmembers who were elected during different elections, then the councilmember with the highest percentage of votes received in each councilmembers' most recent elections to the city council shall be selected mayor.

Notwithstanding the election votes tiebreakers set forth in this subsection (B)(2), if either tiebreaker would result in a councilmember who has previously served as mayor since being elected to the council being appointed over a councilmember of equal continuous uninterrupted service who has never served as mayor since being elected to the council, then the councilmember who has not previously served as mayor shall be appointed mayor. 163 of 572

4 3. In the event that the procedure set forth in subsections (B)(1) and (2) do not control the selection of mayor, the council shall select the mayor by majority vote.

C. A councilmember whose council term will expire in the same year that the mayor's term would also expire if said councilmember was selected mayor shall not be selected to serve as mayor. A councilmember whose council term will expire within 180 days after the date of the selection of the mayor shall not be selected mayor.

D. A councilmember who has served as a mayor shall not be appointed mayor for the immediately subsequent term, unless all other councilmembers decline to serve.

E. If a councilmember is in line to be selected mayor in accordance with the procedures of this section but is unable or unwilling to serve as mayor at the time of selection, then the council shall select the next councilmember in line and the councilmember who is unwilling or unable to be the mayor shall be placed next in line for mayoral appointment under the procedure in subsection (B)(2).

F. If a councilmember who is serving as mayor vacates or is removed from the mayoral position or from his or her council position, the council may fill the vacancy of mayor by selecting and appointing any councilmember to fill said unexpired term. The councilmember selected pursuant to this subsection shall not be prejudiced or prevented from serving a scheduled term pursuant to the provisions of this section.

G. A councilmember appointed to the council to fill a vacancy in accordance with Article VI, Section 13 of the Charter shall not serve as mayor during such appointed term unless there is no available alternative. Under circumstances with no available alternatives, the appointed councilmember(s) having served the longest in such temporary capacity shall serve as mayor in accordance with the provisions set forth in this chapter.

H. Notwithstanding the provisions of this section, in the event the council determines in its discretion that it is in the best interest of the city not to appoint the councilmember next in line to serve as mayor in accordance with the procedure of this section, including, but not limited to, because of reason of mental or physical incapacity significantly limiting the ability to perform mayoral duties or a criminal conviction, then the council may appoint the next qualified councilmember pursuant to subsection (B)(2) to serve as mayor.

SECTION 3. Compliance with California Environmental Quality Act.

The City Council finds and determines that this ordinance is not subject to the California Environmental Quality Act (CEQA), because it is an organizational and administrative activity related to the City government structure that will not result in direct or indirect physical changes in the environment and is therefore not a “project” pursuant to Section 15378(b)(5) of Title 14 of the California Code of Regulations (the CEQA Guidelines) SECTION 4. Severability.
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5 This Ordinance is adopted under the authority of the Charter of the city of Glendale and State law. If any section, subsection, clause or phrase is declared invalid or otherwise void by a court of competent jurisdiction, it shall not affect any remaining provision hereof. In this regard the city council finds and declares that it would have adopted this measure notwithstanding any partial invalidity hereof.

SECTION 5. Effective Date.

This Ordinance shall take effect and be in force thirty (30) days after the date of its adoption.

Passed and adopted by the Council of the City of Glendale on the ___ day of ________, 2025.
_____________________________
Mayor
ATTEST:
_________________________
City Clerk

STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.

CITY OF GLENDALE )
I, Suzie Abajian, PhD, City Clerk of the city of Glendale, certify that the foregoing Ordinance No. ___________ was passed by a majority vote of the Council of the city of Glendale, California, at a regular meeting held on the _____ day of __________, 2025, and that the same was passed by the followed vote.

Ayes:

Noes:

Absent:

Abstain:
______________________________
City Clerk
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CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: FY 2024-25 Annual Comprehensive Financial Report

COUNCIL ACTION
Item Type: Action Item
Approved for December 9, 2025 calendar

EXECUTIVE SUMMARY
The Annual Comprehensive Financial Report, the Report on Internal Control over Financial Reporting, and the Communication with Those Charged with Governance for the fiscal year ended June 30, 2025, are presented. The City received an unmodified opinion from the external auditors, which means the City’s financial statements are presented fairly, in all material respects, in accordance with generally accepted accounting principles.

RECOMMENDATION
That the Council accept the City’s Annual Comprehensive Financial Report, Report on Internal Control over Financial Reporting, and Communication with Those Charged with Governance for the fiscal year ended June 30, 2025

ANALYSIS
The Annual Comprehensive Financial Report (ACFR) is the City’s audited financial statements. Finance staff prepares and compiles the ACFR which is then audited by the City’s independent certified public accountant, CliftonLarsonAllen LLP. The Auditors’ fieldwork commenced in June 2025 and concluded in November 2025 with the issuance of the Independent Auditors’ Report on November 19, 2025.

The ACFR is a set of government financial statements comprising the financial report of the City at the end of the fiscal year. The ACFR complies with the accounting requirements promulgated by the Governmental Accounting Standards Board (GASB), Generally Accepted Accounting Principles (GAAP), and applicable legal requirements.

These standards, principles and regulations provide the framework and rules which the 166 of 572

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City follows to produce this financial report. The ACFR is audited by an external certified public accountant pursuant to Article VI, Section 16 of the City’s Charter. The ACFR is used by numerous government agencies, bond rating institutions, and financial information repositories in order to comply with various reporting, financial, and bond disclosure requirements. In addition, it is also a public document for the community members of the City to review and understand the City’s financial operations.

The results of the annual audit are formally published in the ACFR. For the fiscal year ended June 30, 2025, the City of Glendale received an Unmodified Opinion. This is the “cleanest” or highest opinion an entity can receive, which means that the City’s financial statements are presented fairly, in all material respects, in accordance with GAAP.

The June 30, 2025, ACFR will be submitted to the Government Finance Officers’ Association (GFOA) for an annual national achievement award. To qualify for this award, the City must publish an easily readable and effectively organized report and must conform to the standards established by the award program. The City has received this national achievement award for 30 consecutive years and staff believe that this years’ ACFR will earn this designation again.

In accordance with the GFOA standards, the ACFR is organized into the following three main sections:

1.Introductory Section – This section includes the Transmittal Letter from the Director of Finance, a listing of the Administration and Executive Management Team members, and the City’s Organization Chart.

2.Financial Section – This section is the main section of the ACFR and includes the Independent Auditors’ Report, Management’s Discussion and Analysis (MD&A), the City’s government-wide statements, governmental, proprietary and fiduciary fund-level statements, notes to the basic financial statements, and the required supplementary information (RSI). The remainder of the Financial Section presents the financial statement information for non-major governmental and enterprise funds, all internal service funds and fiduciary custodial funds.

3.Statistical Section – Located towards the end of the ACFR, this section provides readers with a variety of information. While the City staff are confident in the accuracy of the information presented in this section, this section is unaudited in accordance with GFOA standards and the most common practices in the governmental accounting industry.
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More detailed sectional information follows.

Management’s Discussion and Analysis (MD&A)
The MD&A is located immediately following the Independent Auditors’ Report and serves as an executive summary. GAAP requires that management provide this narrative to accompany the basic financial statements. The Letter of Transmittal which precedes the MD&A in the Introductory section, is designed to complement the MD&A and should be read in conjunction with it.

Government-wide statements
The overall financial picture of the City is presented, in accordance with the Governmental Accounting Standards Board pronouncements, on a government-wide basis. Exhibits A-1 and A-2 in the ACFR are designed to provide readers with a broad overview of the City’s finances similar to a private-sector business consolidated financial statements. These statements show the end balances and overall results of operations for all City funds. These two government-wide financial statements distinguish functions of the City that are principally supported by taxes, fees, and intergovernmental revenues (governmental activities) from those primarily supported by a user rate charges (business-type activities). The two government-wide statements presented are as follows:
The Statement of Net Position presents information on all of the City’s assets and deferred outflows of resources as well as liabilities and deferred inflows of resources, with the difference reported as net position. This is similar to a Balance Sheet in private sector accounting.

Exhibit A-1 Statement of Net Position
(in Millions)
Government Business Total
Assets $ 1,928 $ 1,598 $ 3,526
Deferred outflows of resources 112 26 138
Liabilities (866) (805) (1,671)
Deferred inflows of resources (40) (8) (48)
Net position June 30, 2025 $ 1,134 $ 811 $ 1,945
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The Statement of Activities presents information showing how the City’s net position changed during the most recent fiscal year. Similar to an Income Statement in private sector accounting, all changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will result in cash flows in future fiscal periods.

Exhibit A-2 Statement of Activities
(in Millions)
Government Business Total
Revenues $ 513 $ 482 $ 995
Expenses 478 413 891
Increase in net position 35 69 104
Net Position July 1, 2024 1,107 748 1,855
Change in Accounting
Principle (8) (6) (14)
Net position June 30, 2025 $ 1,134 $ 811 $ 1,945
Fund-Level Statements and Notes
Following the government-wide statements are the fund-level financial statements and notes. The three main fund types are governmental funds, proprietary funds and fiduciary funds. Governmental funds include General Fund, Special Revenue Funds, Debt Service Funds and Capital Project Funds. Proprietary funds include Enterprise Funds and Internal Service Funds. Fiduciary funds include Private-purpose Trust Funds and Custodial Funds.

The Notes to the Basic Financial Statements section provides a significant amount of disclosure requirements that supplement the financial data presented in the financial statements. Some of the note disclosures include detailed information about cash and investments, capital assets, long-term debt and liabilities, the City’s pension plan and Other Post Employment Benefits Than Pensions (OPEB).

Statistical Section
The last section of the Report, which is unaudited, contains statistical data about the City. There are 20 schedules in total and most of them have 10 years of history. These schedules are broken down in five distinct categories: (1) Financial trends, (2) Revenue capacity, (3) Debt capacity, (4) Demographic and Economic information and (5) Operation information.

Net Pension Liability
A summary of the net pension liability for FY 2023-24 and FY 2024-25 by plans is shown below. Compared to the FY 2023-24 net pension liability, the FY 2024-25 amount decreased by $46 million, from $696 million to $650 million. The decrease was 169 of 572

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mainly due to a positive 9.3% investment return in FY 2023-24, which is higher than the expected discount rate of 6.8%.

Net Pension Liability
(In Millions)
FY 2024-25 FY 2023-24
Measurement date: June 30, 2024 June 30, 2023
Miscellaneous Plan:

Total pension liability $ 1,410 $ 1,367
Total pension asset $ 1,099 $ 1,025
Net pension liability $ 311 $ 342
Funding % 78% 75%
Safety Plan:

Total pension liability $ 1,104 $ 1,064
Total pension asset $ 765 $ 710
Net pension liability $ 339 $ 354
Funding % 69% 67%
Total Misc. and Safety:

Total pension liability $ 2,514 $ 2,431
Total pension asset $ 1,864 $ 1,735
Net pension liability $ 650 $ 696
Funding % 74% 71%
Report on Internal Control over Financial Reporting
The Report on Internal Control over Financial Reporting summarizes the auditors’ comments and recommendations regarding opportunities to strengthen internal controls and operating efficiency. For the fiscal year ended June 30, 2025, the auditors did not identify any significant deficiency or material weakness.

Communication with Those Charged with Governance
The Communication with Those Charged with Governance is for the auditors to communicate the significant audit findings or issues, and other information, that are not communicated in the audited financial statements. For the fiscal year ended June 30, 2025, the auditors concluded the following major points: (1) all significant transactions have been recognized in the financial statements in the proper period; (2) management’s estimates impacting the financial statements are disclosed; (3) the financial statement disclosures are neutral, consistent and clear; (4) the auditors encountered no significant difficulties in dealing with management in performing and 170 of 572

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completing the audit; (5) no misstatements have been identified. (6) the auditors had no disagreement with the management.

STAKEHOLDERS/OUTREACH
As a part of the City’s long standing practice, the accepted Annual Comprehensive Financial Report will be published on the City’s website for public access.

FISCAL IMPACT
There is no fiscal impact associated with this report.

ENVIRONMENTAL REVIEW (CEQA/NEPA)
This item is considered a ministerial activity and therefore, not subject to CEQA review.

CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.

ALTERNATIVES TO STAFF RECOMMENDATION

1. Do not accept City of Glendale's Annual Comprehensive Financial Report, Report on Internal Control over Financial Reporting, and Communication with Those Charged with Governance for the fiscal year ended June 30, 2025.

2. Consider any other alternative not proposed by staff.

ADMINISTRATIVE ACTION
Submitted by:

Jack Liang, Director of Finance
Prepared by:

Shu-Jun Li, Assistant Director of Finance
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
1) City of Glendale Annual Comprehensive Financial Report 2) Report on Internal Control over Financial Reporting
3)Communication with Those Charged with Governance
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M O T I O N
Moved by Council Member_________________________________________________, Seconded by Council Member_______________________________________________, that the City of Glendale Annual Comprehensive Financial Report, Report on Internal Control over Financial Reporting, and Communication with Those Charged with Governance for the fiscal year ended June 30, 2025 are hereby accepted. A copy of these Reports will be retained in the records of the Finance Department for public review.

Adopted this _________ day of _______________, 2025.

Vote as follows:

Ayes:

Noes:

Absent:

Abstain:

MOTION ADOPTED BY THE GLENDALE CITY COUNCIL AT THE
REGULAR MEETING HELD ON ___________________________
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City of Glendale, California
Fiscal Y ear Ended June 30, 2025
Annual
Comprehensive
Financial Report

THE JEWEL C TYI

I NCORPORA TED
1906
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The Glendale City Council continues to expand access to housing as part of its broader efforts to support quality of life and long-term community development. In recent years, new projects have broken ground and opened their doors, meeting a growing range of residential needs across the City.

Among these milestones is Harrower Village, a 40-unit rental community developed for seniors.

Built on the site of the former Harrower Labs, this project transforms a historic campus into a 100% affordable housing development. Harrower Village reflects both Glendale’s preservation values and its forward-looking housing strategy. Just next door, Citrus Crossing adds another 127 affordable rental units for low-income seniors aged 62 and older. These two projects will now serve over 160 seniors, providing stability and a sense of community.

Looking ahead, the City is continuing to invest in affordable housing with the 515 Pioneer Drive community. Currently under construction and scheduled for completion in December 2025, the project will provide 340 affordable homes designed to serve seniors and small families.

This commitment to housing aligns with community priorities. According to the 2025 Resident Satisfaction Survey, housing affordability was ranked as one of the highest priorities citywide. In response, the Council has advanced policies, partnerships, and projects that strengthen Glendale’s foundation as a city where all residents can live, grow, and thrive.

Annual Comprehensive Financial Report
Fiscal Year Ended June 30, 2025
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City of Glendale, California
City Council
November 2025
Ara Najarian
Mayor
Elen Asatryan
Councilmember
Ardy Kassakhian
Councilmember
Daniel Brotman
Councilmember
Vartan Gharpetian
Councilmember
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Prepared by the Finance Department - Accounting Section Jack Liang, CPA, Director of Finance
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City of Glendale, California
Table of Contents

Exhibit Page

INTRODUCTORY SECTION
(Not Covered by Independent Auditors’ Report)

Letter of Transmittal ...................................................................... i Officials of the City of Glendale ..................................................... xiii Organizational Chart of the City of Glendale ................................ xiv Certificate of Achievement for Excellence in Financial Reporting.. xv

FINANCIAL SECTION

Independent Auditors’ Report ....................................................... 1 Management’s Discussion and Analysis ...................................... 5

Basic Financial Statements:

Government-wide Financial Statements:

Statement of Net Position ................................................ Exhibit A-1 23 Statement of Activities ...................................................... Exhibit A-2 25

Fund Financial Statements:

Balance Sheet – Governmental Funds ............................ Exhibit B-1 29 Reconciliation of Balance Sheet to the Statement of
Net Position ................................................................. Exhibit B-2 31 Statement of Revenues, Expenditures, and Changes in
Fund Balances – Governmental Funds ..................... Exhibit C-1 33 Reconciliation of the Statement of Revenues,
Expenditures, and Changes in Fund Balances to
the Statement of Activities ......................................... Exhibit C-2 34 Statement of Revenues, Expenditures, and Changes in
Fund Balances – Budget and Actual –
General Fund ............................................................. Exhibit D-1 35 Statement of Revenues, Expenditures, and Changes in
Fund Balances – Budget and Actual –
Housing Assistance Fund ........................................... Exhibit D-2 36 Statement of Net Position – Proprietary Funds ............... Exhibit E-1 39 Statement of Revenues, Expenses, and Changes in
Net Position – Proprietary Funds .............................. Exhibit E-2 41 Statement of Cash Flows – Proprietary Funds ................ Exhibit E-3 42 Statement of Fiduciary Net Position – Fiduciary Funds ... Exhibit F-1 47 Statement of Changes in Fiduciary Net Position –
Fiduciary Funds .......................................................... Exhibit F-2 48

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Notes to the Basic Financial Statements:

Note Page

(1) Summary of Significant Accounting Policies ..................... 49 (2) Stewardship, Compliance, and Accountability .................. 59 (3) Cash and Investments ...................................................... 60 (4) Loans Receivable .............................................................. 68 (5) Interfund Transactions ...................................................... 69 (6) Capital Assets ................................................................... 71 (7) Long-Term Debt ................................................................ 73 (8) Pension Plans ................................................................... 81 (9) Other Post Employment Benefits Than Pensions (OPEB) 91 (10) Net Deficits of Individual Funds ........................................ 94 (11) Risk Management ............................................................. 95 (12) Contingent Liabilities and Commitments........................... 96 (13) Jointly Governed Organizations ........................................ 97 (14) Pronouncements Issued But Not Yet Implemented .......... 103 (15) Implementation of Pronouncements ................................. 103 (16) Subsequent Events ........................................................... 103 (17) Restatement ...................................................................... 104

Required Supplementary Information:

Schedule of Changes in Net Position Liability and Related ...........

Ratios – Miscellaneous Plan ................................................... 105 Schedule of Changes in Net Position Liability and Related ...........

Ratios – Safety Plan ................................................................ 107 Schedule of Pension Plan Contributions – Miscellaneous Plan .... 109 Schedule of Pension Plan Contributions – Safety Plan ................. 111 Schedule of Changes in Total OPEB Liability and Related ...........

Ratios ....................................................................................... 113

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Exhibit Page

Combining and Individual Fund Statements:

Combining Governmental Balance Sheet –
Nonmajor Governmental Funds ............................................. Exhibit G-1 115 Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances –
Nonmajor Governmental Funds .............................................. Exhibit G-2 116 Combining Balance Sheet –
Nonmajor Special Revenue Funds ........................................ Exhibit H-1 119 Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances –
Nonmajor Special Revenue Funds ......................................... Exhibit H-2 129 Schedule of Revenues, Expenditures, and Changes in
Fund Balances – Budget and Actual –
Nonmajor Special Revenue Funds ......................................... Exhibit H-3 139 Combining Balance Sheet –
Nonmajor Debt Service Fund ................................................. Exhibit I-1 175 Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances –
Nonmajor Debt Service Fund .................................................. Exhibit I-2 176 Schedule of Revenues, Expenditures, and Changes in
Fund Balances – Budget and Actual –
Nonmajor Debt Service Fund .................................................. Exhibit I-3 177 Combining Balance Sheet –
Nonmajor Capital Projects Funds ........................................... Exhibit J-1 181 Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances –
Nonmajor Capital Projects Funds ........................................... Exhibit J-2 184 Combining Statement of Net Position –
Nonmajor Enterprise Funds .................................................... Exhibit K-1 189 Combining Statement of Revenues, Expenses, and
Changes in Net Position –
Nonmajor Enterprise Funds .................................................... Exhibit K-2 190 Statement of Cash Flows –
Nonmajor Enterprise Funds .................................................... Exhibit K-3 191 Combining Statement of Net Position –
Internal Service Funds ............................................................ Exhibit L-1 195 Combining Statement of Revenues, Expenses, and
Changes in Net Position –
Internal Service Funds ............................................................ Exhibit L-2 199 Statement of Cash Flows –
Internal Service Funds ............................................................ Exhibit L-3 203 Combining Statement of Fiduciary Net Position –
Custodial Funds ...................................................................... Exhibit M-1 213 Combining Statement of Changes in Fiduciary Net
Position – Custodial Funds .................................................... Exhibit M-2 214

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Schedule Page

STATISTICAL SECTION
(Not Covered by Independent Auditors’ Report)
Net Position by Component .......................................................... Schedule 1 215 Changes in Net Position ................................................................ Schedule 2 216 Fund Balances of Governmental Funds ....................................... Schedule 3 222 Changes in Fund Balances of Governmental Funds .................... Schedule 4 224 Electric Revenue by Type of Customers ....................................... Schedule 5 226 Electric Rates ................................................................................ Schedule 6 228 Principal Electric Payer Groups .................................................... Schedule 7 229 Assessed Value and Actual Value of Taxable Property ............... Schedule 8 230 Direct and Overlapping Property Tax Rates ................................. Schedule 9 231 Principal Property Tax Payers ...................................................... Schedule 10 233 Property Tax Levies and Collections ............................................ Schedule 11 234 Ratios of Outstanding Debt by Type ............................................. Schedule 12 235 Direct and Overlapping Governmental Activities Debt .................. Schedule 13 237 Legal Debt Margin Information ...................................................... Schedule 14 238 Pledged-Revenue Coverage ......................................................... Schedule 15 239 Demographic and Economic Statistics ......................................... Schedule 16 241 Principal Employers ...................................................................... Schedule 17 242 Authorized Salaried Positions by Department .............................. Schedule 18 243 Operations Indicators by Function/Program ................................. Schedule 19 245 Capital Asset Statistics by Function/Program ............................... Schedule 20 249 180 of 572

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i
November 19, 2025
To the Honorable Mayor, Members of the City Council
and the Citizens of the City of Glendale, California:

It is our pleasure to submit the Annual Comprehensive Financial Report of the City of Glendale (the City) for the fiscal year ended June 30, 2025.

This report consists of management’s representations regarding the finances of the City. Responsibility for both the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures, rests with the City’s management. To provide a reasonable basis for making these representations, management has established a comprehensive internal control framework that is designed to both protect the City’s assets from loss, theft, or misuse, and compile sufficient reliable information for the preparation of the City’s financial statements in conformity with Generally Accepted Accounting Principles (GAAP). Recognizing the cost of internal controls should not exceed their benefits, internal controls have been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatements. As management, we assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material respects.

GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The City of Glendale’s MD&A can be found immediately following the independent auditors’ report.

The financial reporting entity includes all the funds of the primary government (The City of Glendale), as well as all of its component units. Component units are legally separate entities for which the primary government is financially accountable. Blended component units, although legally separate entities, are in substance, part of the primary government. Accordingly, the Glendale Housing Authority and the Glendale Municipal Financing Authority are reported in the appropriate funds of the City’s financial report.

Profile of the City of Glendale
The City of Glendale is located northeast of Los Angeles in the foothills of the San Gabriel Mountains. The City was incorporated on February 16, 1906 under the general laws of the state of California. The City Charter was adopted on March 29, 1921. The City provides the full range of municipal services. This includes police, fire, emergency medical services, streets, refuse collection, sewer, hazardous disposal, electric, water, parking, parks and recreation, library, public improvements, planning, zoning, housing, community development and administrative services.

CITY OF GLENDALE, CALIFORNIA
Fin an ce
141 N. Gle n dale Ave., Su ite 346
Glen d ale, CA 91206-4975
Tel. (818) 548-2085 Fax (818) 956-3286
glen daleca.go v
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Noted for its high quality of life and fiscal stability, Glendale is the fourth largest city in Los Angeles County, encompassing 30.6 square miles and serving over 192,000 residents. The City operates under a council- manager form of government, with a five-member council elected at large to four-year overlapping terms, in addition to an elected City Clerk and City Treasurer. The mayor is elected by the City Council for a one-year term and is the presiding officer of the Council. The City Council is responsible for passing ordinances, adopting the budget, appointing various boards and commissions, and hiring the City Manager and City Attorney. The City Manager is responsible for carrying out the policies and ordinances of the Council, for overseeing the day-to-day operations of the City, and for appointing the heads of the various departments.

Factors Affecting the Glendale Economy

The information presented in the financial statements would be best understood when it is considered from the broader perspective of the specific environment within which the City of Glendale operates.

The Local Economy – Glendale’s economy is one of the most diverse within the Los Angeles region primarily due to a healthy mix of business and industry that operates within its borders. Continued capital investment is seen throughout the City through business expansion and business attraction to Glendale’s central location, public safety record, and robust business environment. Implementing the Glendale Tech Strategy continues to strengthen local tech firms such as Service Titan, Age of Learning, EVITE, Legal Zoom, DISQO, Cisco Systems, Phonexa, dot818, and Beyond Limits. Also of note are Glendale’s regional shopping centers, the Glendale Galleria, Americana at Brand, Montrose Shopping Park, and Brand Boulevard of Cars. Several recently completed development projects provide approximately 3,500 new residential units and thousands of square feet of commercial development. Glendale is home to top- performing hotels like Embassy Suites, Hilton, The Glenmark Hotel, Residence Inn by Marriot Los Angeles, Hyatt Place Glendale, and Holiday Inn Express Glendale. Hotel Indigo, a seven-story with 147 rooms, is currently under construction and is scheduled for completion in the fourth quarter of 2025. While business travel has rebounded slightly compared to previous years, signs indicate a decline in recreational travel locally, consistent with nationwide trends.

Economic Development Highlights – The City focuses on collaborative strategies to create jobs, generate revenue, support entrepreneurs, and improve the quality of life for residents, the business community, and visitors to Glendale. Over the years, the City has encouraged economic development through proactive efforts to target and attract businesses; reduce Class A office vacancies; provide support to existing businesses through concierge services; support workforce development programs; promote City-wide branding and marketing efforts; and adopt strategic planning methods for economic development. Economic Development accomplishments for FY 2024-25 were focused on four main goals:

1. Asset Management – Glendale actively employs ways to provide additional value of City assets through proactive, profitability-focused management practices. The priority was to achieve the highest and best use of City facilities through an effective asset management strategy.

Accomplishments include:

 The implementation of Artsakh Creative, a rotating retail pop-up program in the City-owned commercial spaces located at 117-131 N. Artsakh Avenue. During FY 2024-25, the following retailers participated in the program:

 No Easy Props – a vibrant hip-hop cultural hub, blending a retail shop with a dynamic street dance studio.
 The Glendale Room – a comedy/improv/podcast center by day and performance venue by night. The LA Times has referred to it as “the coziest space for comedy in all LA County.
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 Wallflower Market LA – a photography studio and retail shop celebrating local makers featuring a rotating lineup of artisans offering unique goods; and  Paperback Brewing Artsakh – a tap room offshoot of Paperback Brewing Los Angeles, located in an industrial section of Glendale.

A new business will join the program in Winter 2025-26 as Paperback Brewing rotates out of the program.

2. Business Attraction – The City of Glendale is committed to attracting business and investment to Glendale to create a diverse economy. This is done through Business Concierge services and fast-track permitting, broker relationships, site selection assistance, utility consultation, and connecting potential businesses with resource marketing campaigns and support.

Accomplishments in business attraction include:

 Glendale Tech Week 2024 returned for its eighth year, attracting over 3,000 local and regional attendees. Events featured a job fair, educational panels and signature events to network with stakeholders and community partners in the tech and innovation ecosystem as well as presenting an opportunity to celebrate the innovation throughout the Los Angeles region.

 In collaboration with the California Governor’s Office of Business and Economic Development (GO-Biz) and former Senator Anthony Portantino, the City of Glendale awarded a $1 million grant for the creation and operation of the Hero House Venture Building Program and the Glendale Growth Group Program. This 3-year grant will allow these two programs to recruit startups into intensive incubator and accelerator programs that strengthen the core business, engage with and grow the local innovation ecosystem, and elevate the City’s role in the broader SoCal tech ecosystem.

 In FY 2024-25, Glendale’s Economic Development team continued to build on the City's vision of becoming an 18-hour city by supporting the successful opening of several new businesses. Notable additions to the retail and dining landscape include Panini Kabob Grill, La La Land Kind Coffee, Crumbles Patisserie, The Bar – Handrolls by Seabutter, Vegan Foodie Bowl, Sabrina’s Pizzeria, Robek’s Juice, Cecille Trattoria, Venchi Gelato, Fat Sal’s Deli, Little Corner Café, Bottega Veneta, Louis Vuitton, Fabletics, Lacoste, Anthropologie, Brandy Melville, and Dog Resort Glendale. Looking ahead to FY 2025-26, even more exciting businesses are scheduled to open, including the highly anticipated Erewhon.

3. Business Services – Recognizing that most job growth in any community is generated by the businesses already located there, Glendale focuses on services to businesses to propel economic growth. Efforts this past year continued to be centered around helping businesses remain open and prosper.

Accomplishments include:

 The hallmark of Glendale’s Concierge Team is excellent customer service. Businesses receive one-on-one concierge assistance from our seasoned project managers. High- profile projects during FY 2024-25 included Fat Sal’s Deli, Regent X Coffee Bar, Venchi Gelato, and The Bar – Handrolls by Seabutter.
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 The City of Glendale hosted its third annual “Let’s Grow Glendale” Small Business Summit on May 1, 2025, drawing over 500 registered attendees. This event showcased our unwavering support for small businesses and featured a series of breakout sessions on curated topics to support business growth.

 The City of Glendale extended its contract with the California Employers Association (CEA) to provide a new free Human Resources Hotline and series of webinars to assist local employers. The hotline assisted local businesses in minimizing their HR-related liabilities by a total of $2.1 million in total exposure during FY 2024-25. This was achieved through addressing nearly 100 calls covering topics such as benefits, hiring, leave laws/ADA/FEHA, termination, and wage laws. Additionally, a robust lineup of business webinars was conducted, focusing on areas such as setting up a foundation for business, HR compliance and updates, AI implementation in the workplace, and more; with 882 registered attendees seeking practical strategies and expert insight.

4. Tourism Initiative – Positioning Glendale as a tourism hub for Southern California is a part of our Three-Year Economic Development Strategic Plan. To capture a portion of the tourism dollars which will be flowing into the region as Los Angeles hosts the 2026 World Cup soccer matches, 2027 Super Bowl, and 2028 Summer Olympic and Paralympic Games, staff have worked to strengthen partnerships with retailers and hotel operators, create printed advertisements to showcase Glendale as a destination city, and partner with Visit Widget to develop a Visit Glendale app in FY 2024-25. Plans for the coming year include the debut of Glendale’s first-ever tourism video.

Employment – According to the data obtained from the California State Department of Finance Demographic Research Unit, the population for the City of Glendale as of January 1, 2025 is 192,212, representing a year over year increase of 0.33%. The City of Glendale remains the fourth largest city by population in Los Angeles County and ranks 24th in the State of California. As of July 2025, the Glendale labor force includes 96,000 residents (16 years of age or over), a decrease of 7,200 workers from July 2024, as noted by the Employment Development Department Labor Market Information Division (EDD- LMID).

According to 2024 U.S. Census, American Consumer Survey (ACS) One-Year Estimates, occupational employment data shows the following results for residents of Glendale:

 34,608 Glendale residents were employed in management, business, arts, or science occupations

 13,040 were employed in sales and office occupations

 8,252 were employed in service occupations

 5,445 were employed in production and transportation

 2,020 were employed in natural resources, construction, and maintenance occupations

The median household income for Glendale residents recorded at $89,055, and the poverty rate is at

10.9%, according to 2024 U.S. Census, American Consumer Survey One-Year Estimates. In comparison, Glendale holds a lower median income than Los Angeles County which records $90,845 median income and lower than California at $100,149 median income. Glendale’s poverty rate is lower than Los Angeles County’s rate of 13.3% and California’s rate of 11.8%.

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Median Household Income Comparison

2024 U.S. Census ACS, One-Year Estimates

Poverty Rate Comparison

2024 U.S. Census ACS, One-Year Estimates

$0$20,000$40,000$60,000$80,000$100,000$120,000Glendale Los Angeles County California USA

0.00%2.00%4.00%6.00%8.00%10.00%12.00%14.00%Glendale Los Angeles County California USA 186 of 572

Unemployment Levels – Due to the economic impact of the COVID-19 pandemic that started in March 2020, Glendale’s unemployment peaked in May 2020 at 21.7%, which was double the peak rate during the Great Recession (December 2007 to June 2010). The unemployment rate declined to 10.2% in August 2021. Recovery from the impact of the pandemic continued and as of August 2023, the unemployment rate for Glendale was 5.8%. Glendale continued its decline ranging from 4.2% through 6% through 2024, recording a 4.3% in April 2024. However, by June 2024, the unemployment rate jumped to

5.7% and again in July 2025 with a 6.4% unemployment rate. While much lower than the peak rate recorded in May 2020 of 21.7%, Glendale has yet to reach its pre-pandemic unemployment of 3.9% and the increases may continue as the overall economy continues its projected decline. Glendale’s unemployment is the same as the Los Angeles County rate (6.4%) recorded for July 2025; however, it is higher than California (6.1%) and the national rate of 4.6%.

Industry Employment Status – According to Dunn & Bradstreet, the top industries by employment are identified for 2025. The top seven Glendale industries are:

Industry Employment Median Annual
Salary

1. Healthcare 14,869 $61,213

2. Professional Services 12,680 $128,047

3. Public Administration / Educational Services 9,688 $91,915

4. Rental Stores 9,240 $50,569

5. Information Based Industries 5,775 $174,677

6. Eating and Dining 5,369 $34,339

7. Construction 4,692 $86,283

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Fastest Growing Occupations – Current EDD-LMID projections delineate the 2022-2032 projections with the top 25 fastest growing occupations based on the highest percentage change in Los Angeles County.

The table delineates the numeric and percentage increase.

Occupational Title Numeric
Change
Percentage
Change

1. Nurse Practitioners 3,280 35.8%

2. Nurse Anesthetists 230 29.9%

3. Travel Agents 910 29.7%

4. Physical Therapist Assistants 920 28.9%

5. Physician Assistants 1,100 28.9%

6. Medical and Health Services Managers 5,790 28.6%

7. Statisticians 220 28.2%

8. Occupational Therapy Assistants 310 27.4%

9. Gambling and Sports Book Writers and Runners 60 27.3%

10. Gambling Dealers 1,230 27.0%

11. Taxi Drivers 500 25.5%

12. Data Scientists 2,250 25.5%

13. Home Health and Personal Care Aides 91,090 25.3%

14. Cooks, Restaurant 11,850 25.1%

15. Aircraft Cargo Handling Supervisors 240 24.5%

16. First-Line Supervisors of Gambling Services Workers 100 24.4%

17. Museum Technicians and Conservators 180 24.3%

18. Home Health and Personal Care Aides; and Nursing Assistants 95,700 24.0%

19. Counselors, All Other 2,390 23.9%

20. Mathematical Science Occupations 3,010 23.8%

21. Tour and Travel Guides 530 23.8%

22. Information Security Analysts 990 23.3%

23. Occupational Therapy and Physical Therapist Assistants and Aides 1,450 23.2%

24. Curators 110 22.9%

25. Baggage Porters and Bellhops 330 22.9%

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Housing – Based on the “2025 Assessed Values Report” issued by the Los Angeles Office of the Assessor, Glendale experienced a net taxable property value increase of 3.7%, which was slightly less than the increase experienced countywide at 3.9%. According to the City’s property tax consultant, HDL Coren & Cone, Glendale’s single-family housing market increase in sales volume (number of units sold) and in average sales price, from $707,282 in FY 2023-24 to $731,972 in FY 2024-25. The detached single-family sales showed an increase in sales volume (number of units sold) and an increase in average price, from $1,471,305 in FY 2023-24 to $1,532,273 in FY 2024-25.

$707,282 $1,471,305 $731,972 $1,532,273 Attached Single Family Detached Single FamilyAttached/Detached Single Family Average Sales Price(Year Ending June 30)20242025275519283534Attached Single Family Detached Single FamilyAttached/Detached Single Family Sales (in units)(Year Ending June 30)20242025 189 of 572

Long-term Financial Planning and Major Initiatives

In March 2023, the City Council held a governance workshop to discuss best practices, governance norms, and review and establish priority areas for the Citywide Workplan. This workshop resulted in a Workplan that reflected the City Council’s four highest priority areas and identified various projects, programs, and initiatives beyond the regular workload. With the FY 2025-26 adopted budget, the City Council reaffirms these four priority areas:

As Glendale continues to strengthen its service delivery and business operations, the City establishes departmental goals and objectives tied to these four priority areas. Departments pursue these goals each year, while measuring progress with key performance indicators, resulting in an overall successful outcome.

This systematic management and measurement of Glendale’s performance will assist in clarifying and aligning the City toward our strategic goals.

The City Council has requested that the City continue making strategic capital investments in the community that align with the Council’s priorities stated above. Some of these planned capital improvements include:

 Enhancing the safety, security, and accessibility at the Glendale Transportation Center  Modifying traffic signals at intersections of La Crescenta Avenue  Downtown Glendale traffic signal synchronization
 Improvements to existing playgrounds, park structures, and fencing  Major Glendale Water & Power projects in electrification, distribution, and transmission  Water systems pipeline replacements
 Various pedestrian safety projects throughout the City  Parking structure and parking lot improvements
 Capital improvements for capturing and treating stormwater

These projects, in addition to regular maintenance of City-owned facilities, streets, parkway trees, sewers, parklands, and water and power equipment, are just a sample of the many City improvements planned in FY 2025-26 and echo the City Council’s sense of responsible stewardship over community assets. In the City, departments work together to achieve one main goal: a community that is safe, prosperous, and rich in cultural offerings. There is no one way to do it – but in Glendale, it means teamwork and effective communication between departments, a combination of people and skills, and community support.

Similar to many other municipalities across the nation, the City of Glendale is experiencing financial challenges in recent years. As a result, the General Fund financial forecast has played a crucial role in the City’s strategic financial planning process. During the FY 2025-26 budget study sessions, the most current Five-year General Fund Forecast was presented to the City Council (also shown below). Many variables and assumptions were taken into considerations. These variables and assumptions were driven by 190 of 572

economic forecasts by industry experts, analysis of major revenue sources (such as property and sales taxes) by consultants, and historical trends and known operational factors (such as labor agreements, pension cost increases, and critical capital projects) that will affect the City’s costs. Operating on the principle of pragmatism, the assumptions for both revenues and expenditures are made realistically and conservatively. The forecast shows a trend for declining fund balance if the City does not take any action to increase revenues or reduce costs. At the study sessions, a number of revenues/costs optimization measures were discussed, and a prioritized list of these measures were established. At the time of this report, many of these measures have moved into the planning or execution stages. These measures are developed to help the City in maintaining the minimum General Fund Reserve of 25% of the annual budgeted expenditure, and the mandatory expected results are listed separately in the table below.

Category FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 Resources* $ 352.5 345.8 359.8 366.9 373.7 Expenditures* 352.5 377.5 387.9 400.0 408.6
Before Revenues/Costs Optimization
Fund Balance
(Before)* 119.5 87.8 $59.7 $26.6 (8.3)
Reserve %
(Before) 33.9% 23.3% 15.4% 6.7% (2.0)%
Optimization Measures
Revenues/Costs
Optimization* - 6.0 26.0 34.0 37.0
After Revenues/Costs Optimization
Fund Balance
(After)* $ 119.5 93.2 90.7 91.6 93.0
Reserve %
(After) 33.9% 25.2% 25.3% 25.3% 25.5%

*Numbers are in millions
$310.0 $320.0 $330.0 $340.0 $350.0 $360.0 $370.0 $380.0 $390.0 $400.0 $410.0 $420.0FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30General FundFive-Year Forecast(In Millions)ResourcesExpenditures 191 of 572

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Independent Audit
The City’s financial statements have been audited by the firm of CliftonLarsonAllen LLP, a public accounting firm fully licensed and qualified to perform audits of local governments within the State of California. The goal of the independent audit was to provide an opinion on whether the financial statements of the City of Glendale, California for the fiscal year ended June 30, 2025, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. The independent auditor concluded, based upon the audit, that there was a reasonable basis for rendering an unmodified opinion that the City of Glendale, California’s basic financial statements for the fiscal year ended June 30, 2025, are fairly presented in conformity with GAAP. The independent auditors’ report is presented as the first component of the financial section of this report. Their unmodified opinion on the City’s basic financial statements is included within this report.

The independent audit of the financial statements of the City is part of a broader, federally mandated “Single Audit” designed to meet the special needs of Federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the audited government’s internal controls and other financial reporting and compliance with legal requirements, and on compliance and internal control over compliance for each major federal program selected. These reports are available in the City’s separately issued Single Audit Report.

Award
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City for its annual comprehensive financial report for the past thirty fiscal years ended June 30, 1995 through June 30, 2024. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports.

In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized Annual Comprehensive Financial Report, whose contents conform to program standards. Such Annual Comprehensive Financial Report must satisfy both Generally Accepted Accounting Principles and applicable legal requirements. This award is valid for a period of one year. The City believes the current annual comprehensive financial report continues to meet the Certificate of Achievement for Excellence requirements and will be submitting it to GFOA to determine its eligibility for another certificate.

Acknowledgments
The preparation of this Annual Comprehensive Financial Report was made possible by the dedicated service of the entire staff of the Finance Department, especially the Accounting section. In addition, the successful preparation of this report was only made possible with the leadership and support from the Glendale City Council and the City Manager, and the cooperation of all City Departments. I express my sincere appreciation for everyone involved in this process.

RESPECTFULLY SUBMITTED,

JACK LIANG

DIRECTOR OF FINANCE
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Officials of the City of Glendale
Administration and Executive Management Team
City Manager
Assistant City Manager
City Clerk
Chief Human Resources Officer
Chief Innovation Officer
Chief Information Officer
Fire Chief
Director of Community Services & Parks
Director of Community Development
Police Chief
City Attorney
Director of Public Works
Director of Finance
City Treasurer
General Manager of Glendale Water & Power
Director of Library, Arts & Culture
Roubik Golanian
John Takhtalian
Suzie Abajian
Paula Adams
Elena Bolbolian
Jason Bradford, CPA
Jeffrey Brooks
Onnig Bulanikian
Bradley Calvert
Manuel Cid
Michael J. Garcia
Daniel Hernandez
Jack Liang, CPA
Rafi Manoukian, CPA
Scott Mellon
Lessa Pelayo-Lozada
City of Glendale, California November 2025
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City of Glendale, California
Organizational Chart
Electorate
City Council City Treasurer
City Manager
Finance Community
Development
Glendale
Water & Power
Library, Arts &
Culture Police Public Works
Human
Resources
Information
Technology
Community
Services & Parks Fire
City Attorney
Boards & Commisions
City Clerk
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Certificate Of Achievement For
Excellence In Financial Reporting
The Government Finance Officers Association of
the United States and Canada (GFOA) awarded
a Certificate of Achievement for Excellence in
Financial Reporting to the City of Glendale for
its annual comprehensive financial report for
the fiscal year ended June 30, 2024. This was the
30th consecutive year that the City of Glendale
has achieved this prestigious award. In order
to be awarded a Certificate of Achievement, a
government must publish an easily readable
and efficiently organized annual comprehensive
financial report. This report must satisfy both
generally accepted accounting principles and
applicable legal requirements.

A Certificate of Achievement is valid for a period
of one year only. We believe that our current
annual comprehensive financial report continues
to meet the Certificate of Achievement Program’s
requirements and we are submitting it to the GFOA
to determine its eligibility for another certificate.

Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Glendale
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2024
Executive Director/CEO
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CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer.

CliftonLarsonAllen LLP
CLAconnect.com

INDEPENDENT
AUDITORS’ REPORT
Honorable Mayor and
Members of the City Council
City of Glendale
Glendale, California
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Glendale (the City), as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise the City of Glendale’s basic financial statements as listed in the table of contents.

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

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

Emphasis of Matter - Change in Accounting Principle
As described in Note 17 to the financial statements, on July 1, 2024, the City adopted new accounting guidance, GASB Statement No. 101, Compensated Absences , which resulted in a restatement of beginning net position of governmental activities, business-type activities and compensated absences fund. Our opinions are not modified with respect to this matter.

Responsibilities of Management for the Financial Statements Management is responsible for the preparation and f air presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal c ontrol relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
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Honorable Mayor and
Members of the City Council
City of Glendale
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in
the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

Auditors’ Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS and Government Auditing Standards, we:
 Exercise professional judgment and maintain professional skepticism throughout the audit.  Identify and assess the risks of material misstat ement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of City of Glendale’s internal control. Accordingly, no such opinion is expressed.
 Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about City of Glendale’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those cha rged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
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Honorable Mayor and
Members of the City Council
City of Glendale
Required Supplementary Information
Accounting principles generally accepted in the U nited States of America require that the
management’s discussion and analysis, schedules of changes in net pension liability and related ratios of the pension plans and schedules of pension plan contribution and schedule of changes in total OPEB liability and related ratio be presented to s upplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with GAAS, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The combining and individual non-major fund financial statements and schedules are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the combining and individual non- major fund financial statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

Other Information
Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditors’ report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon.

In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. 3 202 of 572

Honorable Mayor and
Members of the City Council
City of Glendale
Other Reporting Required by Government Au
diting Standards
In accordance with Government Auditing Standards, we have also issued our report dated November 19, 2025, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering City’s internal control over financial reporting and compliance.

CliftonLarsonAllen LLP
Irvine, California
November 19, 2025
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CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)
As management of the City of Glendale (the City), we offer readers of the City’s financial statements this narrative overview and analysis of the financial activities of the City for the fiscal year ended June 30, 2025.

We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal.

Financial Summary
 The assets and deferred outflows of resources of the City exceeded its liabilities and deferred inflows of resources at the close of FY 2024-25 by $1,944,803 (net position), which was comprised of net investment in capital assets of $1,352,737, restricted net position of $298,480 and unrestricted net position of $293,586. The unrestricted net position consisted of a negative $182,221 for governmental activities and $475,807 for business-type activities. The negative unrestricted net position for governmental activities was primarily due to the recognition of net pension liability.  The City’s total net position increased by $103,705, which consists of an increase of $34,896 for Governmental activities, and an increase of $68,809 for Business-type activities. The increase for Governmental activities was mainly attributable to the increase in charges for services and property tax.

The increase for Business-type activities was mainly attributable to the higher electric revenues from electric rate increase, and the big increase in fair value of investments in accordance with GASB 31.  As of the close of FY 2024-25, the City’s governmental funds reported combined ending fund balances of $542,896, an increase of $4,145 in comparison with the prior year. About 13.3% of this total amount, $71,944 was unassigned and available for spending at the government’s discretion.  At the end of FY 2024-25, the General Fund reserve, which is the combined total of the City Charter Article XI Section 15 general reserve of $43,074 and the unassigned fund balance of $93,425, excluding unrealized GASB transactions of $1,913, amounts to $134,586. This represents approximately 41.3% of the FY 2024-25 General Fund original budget of $325,661. The City Council’s current General Fund Reserve policy is a minimum of 25% of the annual operating budget, with a target of 35%.

Overview of the Financial Statements
This discussion and analysis are intended to serve as an introduction to the City’s basic financial statements.

The City’s basic financial statements are comprised of three components:
1) Government-wide financial statements
2) Fund financial statements
3) Notes to the basic financial statements
This report also contains other supplementary information in addition to the basic financial statements.

Government-Wide Financial Statements
The government-wide financial statements, which are comprised of the statement of net position and statement of activities, are designed to provide readers with a broad overview of the City’s finances, in a manner similar to a private-sector business.
5 205 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)
The statement of net position presents information on all the City’s assets and deferred outflows of resources, and liabilities and deferred inflows of resources, with the difference reported as net position. The statement of activities presents information showing how the government’s net position changed during the recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will result in cash flows in future fiscal periods.

Both the government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the City include general government, police, fire, public works, transportation, housing, health, and community development, employment programs, public service, parks, recreation, and community services, library, and interest and fiscal charges. The business-type activities of the City include electric, fiber optic, fire communication, refuse disposal, sewer and water.

The government-wide financial statements include not only the City itself (known as the primary government), but also a legally separate housing authority and municipal financing authority for which the City is financially accountable. The housing authority and the municipal financing authority, although legally separate, function for all practical purposes as departments of the City, and therefore have been included as an integral part of the primary government.

Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be divided into three categories: (1) governmental funds, (2) proprietary funds, and (3) fiduciary funds.

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

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The City maintains 50 individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for General Fund, Housing Assistance Fund, and Capital Improvement Fund, all of which are reported as major funds. Data from the other 47 governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements elsewhere in this report.
6 206 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

Effective June 30, 2025, Parking Fund was closed, and the fund balance was transferred to the General Fund and the Capital Improvement Fund. Starting FY 2025-26, the Parking operation will be recorded in the General Fund, and the Parking capital improvement projects will be recorded in the Capital Improvement Fund.

The City adopts an annual budget for its General Fund, special revenue and debt service fund types.

Budgetary comparison information has been provided for the above fund types to demonstrate compliance with the budget.

Proprietary funds are used to account for services for which the City charges external customers or internal departments of the City, the City maintains two types of proprietary funds: enterprise & internal service.

Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The City uses enterprise funds to account for activities, such as electric, water, refuse, sewer, and fire communications. Internal service funds are used to accumulate and allocate costs internally among the City’s various functions. The City uses internal service funds to account for activities, such as fleet maintenance, information technology, joint helicopter operation, building maintenance, employee benefits, and insurance.

Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the sewer, electric, and water operations, all of which are major funds of the City. Conversely, all internal service funds are combined into a single, aggregated presentation in the proprietary fund financial statements. Individual fund data for the non-major enterprise and internal service funds is provided in the form of combining statements elsewhere in this report.

Fiduciary funds are used to account for resources held for the benefit of others outside of the City’s own programs. The City maintains two different types of fiduciary funds: private-purpose trust and custodial funds.

Private-purpose trust funds are used to report all fiduciary activities that (a) are not required to be reported in pension and other employee benefits trust funds or investment trust funds and (b) are held in the trust that meets certain criteria. The City uses private-purpose trust fund to account for its Glendale Successor Agency Fund. Custodial funds are used to report fiduciary activities that are not required to be reported in pension and other employee benefits trust funds, investment trust funds, or private-purpose trust funds. The City uses custodial funds to account for the ICI System and unclaimed evidence.

Since the resources of fiduciary fund are not available to support the City’s own programs, it is not reflected in the government-wide financial statements. The accounting used for fiduciary funds is much like that used for proprietary funds.

Notes to the Basic Financial Statements

The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.

Other Information

In addition to the basic financial statements and the notes, the required supplementary information for pension and OPEB, and the combining statements of nonmajor governmental and enterprise funds, internal service funds and custodial funds are presented following the notes.

7 207 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

Government-wide Financial Analysis

For fiscal year ending June 30, 2025, the City’s assets and deferred outflows of resources exceeded its liabilities and deferred inflows of resources by $1,944,803, which is the City’s net position. The largest portion of the City’s net position, $1,352,737 (69.6%), is the net investment in capital assets (e.g., infrastructure, land, buildings, machinery, and equipment) less any related debt used to acquire those assets that was still outstanding. The City uses these capital assets to provide services to the community; therefore, these assets are not available for future spending. Although the City’s net investment in its capital assets is reported as net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

City of Glendale’s Net Position
As of June 30,
Governmental
activities
Business-type
activities

Total
2025 2024 2025 2024 2025 2024
Non-capital assets $ 869,498 849,495

670,588 611,032

1,540,086 1,460,527
Capital assets 1,058,053 1,032,172 927,360 682,876 1,985,413 1,715,048 Total assets 1,927,551 1,881,667 1,597,948 1,293,908 3,525,499 3,175,575 Deferred outflows of resources 112,482 161,307 25,920 39,746 138,402 201,053 Total assets and deferred
outflows of resources 2,040,033 2,042,974

1,623,868 1,333,654

3,663,901 3,376,628
Current liabilities 103,029 99,263

158,898 87,169

261,927 186,432
Noncurrent liabilities 762,956 788,346 646,309 487,804 1,409,265 1,276,150 Total liabilities 865,985 887,609 805,207 574,973 1,671,192 1,462,582 Deferred inflows of resources 39,852 48,375 8,054 11,081 47,906 59,456 Total liabilities and deferred
inflows of resources 905,837
935,984

813,261 586,054

1,719,098 1,522,038
Net investment in capital assets 1,030,243 986,866

322,494 366,965

1,352,737 1,353,831
Restricted 286,174 281,175 12,306 51,626 298,480 332,801 Unrestricted (182,221) (161,051) 475,807 329,009 293,586 167,958 Total net position $ 1,134,196 1,106,990

810,607 747,600

1,944,803 1,854,590

The restricted portion of the City’s net position are resources that are subject to external restrictions on how they may be used, is $298,480 (15.3%). The remaining balance of the City’s net position, $293,586 (15.1%) is unrestricted and may be used to meet the government’s ongoing obligations to citizens and creditors.

8 208 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

City of Glendale’s Change in Net Position
For the Fiscal Year Ended June 30,

Governmental
activities

Business-type
activities

Total
2025 2024 2025 2024 2025 2024
Revenues:

Program revenues:

Charges for services $ 107,065 97,315 435,511 376,488 542,576 473,803 Operating grants and contributions 122,093 115,069 119 1,249 122,212 116,318 Capital grants and contributions 19,444 17,074 3,835 3,688 23,279 20,762 General revenues:

Taxes:

Property taxes 86,149 80,233 - - 86,149 80,233
Sales taxes 86,359 85,917 - - 86,359 85,917
Utility users tax 32,998 28,882 - - 32,998 28,882
Occupancy tax 11,022 10,157 - - 11,022 10,157
Investment income 13,234 13,547 37,976 22,653 51,210 36,200 Other 4,474 3,548 4,707 3,589 9,181 7,137
Total revenues 482,838 451,742 482,148 407,667 964,986 859,409 Expenses:

General government 24,746 24,856 - - 24,746 24,856
Police 130,387 125,370 - - 130,387 125,370
Fire 91,547 88,289 - - 91,547 88,289
Public works 57,382 45,321 - - 57,382 45,321
Transportation 24,879 30,366 - - 24,879 30,366
Housing, health and community
development 87,255 94,611

- -

87,255 94,611
Employment program 9,179 8,474 - - 9,179 8,474
Public service 7,063 4,891 - - 7,063 4,891
Parks, recreation and community
services 29,779 32,036

- -

29,779 32,036
Library, arts and culture 15,940 13,752 - - 15,940 13,752 Interest and fiscal charges 400 516 - - 400 516
Fiber optic - - 63 97 63 97
Fire communications - - 6,671 6,031 6,671 6,031
Sewer - - 27,884 27,269 27,884 27,269
Refuse disposal - - 25,928 24,213 25,928 24,213
Electric - - 265,898 221,815 265,898 221,815
Water - - 56,280 48,955 56,280 48,955
Total expenses 478,557 468,482 382,724 328,380 861,281 796,862 Excess before transfers 4,281 (16,740) 99,424 79,287 103,705 62,547 Transfers 30,615 24,120 (30,615) (24,120) - -
Change in net position 34,896 7,380 68,809 55,167 103,705 62,547 Net position – beginning,
as previously reported 1,106,990 1,099,610

747,600 692,433

1,854,590 1,792,043
Change in accounting principle (7,690) - (5,802) - (13,492) - Net position – beginning as restated 1,099,300 1,099,610 741,798 692,433 1,841,098 1,792,043 Net position – ending $ 1,134,196 1,106,990 810,607 747,600 1,944,803 1,854,590

9 209 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

Governmental Activities
Governmental activities increased the City’s net position by $34,896. Key elements of this increase are as follows:
 Charges for services revenues increased $9,750 (10.0%) during the current fiscal year. The increase was primarily driven by revenues increase in the following categories: building permits, planning permits, fire fees, and emergency medical response fees.

 Compared to prior fiscal year, property tax revenues increased by $5,916 (7.4%). The increase was primarily due to growth in home values.

 Utility users tax revenues increased by $4,116 (14.3%) compared to prior fiscal year. The increase was a byproduct of electric rate increase effective July 1, 2024.

 Housing, health and community development expense decreased by $7,356 (7.8%) during the current fiscal year. The decrease is mainly due to decrease in direct assistance payments related to affordable housing.

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CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

2025 Expenses and Program Revenues – Governmental Activities

2025 Revenues and Transfers by Source – Governmental Activities

$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
$130,000
General
government
Police Fire Public
works
Transportation Housing,
health &
community
development
Employment
programs
Public
service
Parks,
recreation &
community
services
Library, arts
and culture
Interest &
fiscal
charges
Expenses Program Revenues
Charges for services

20.85%
Operating grants &
contributions

23.78%
Utility users tax

6.43%
Other

0.87%
Investment income

2.57%
Occupancy tax

2.15%Capital grants &
contributions

3.79%
Transfers

5.96%
Sales taxes

16.82%
Property taxes

16.78%

11 211 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

Business-Type Activities

Business-type activities net position increased by $68,809. Key elements of this increase are as follows:

 Charges for services increased by $59,023 (15.7%) during the current fiscal year mainly due to increase in residential, commercial, and industrial electric sales and refuse fees. An increase in electric retail revenue was due to an increase in sales volume and rate increase that became effective July 1, 2024.

 Investment income increased by $15,323 (67.6%) during the current fiscal year, primarily due to an increase in fair value of investments in accordance with GASB 31.

 Business-type activities expense increased by $54,344 (16.5%), primarily due to capital projects such as Grayson Repowering Project and Biogas Renewable Generation Project.

12 212 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

2025 Expenses and Program Revenues – Business-type Activities

2025 Revenues by Source – Business-type Activities

Charges for services

90.32%
Operating grants &
contributions

0.02%
Capital grants &
contributions

0.80%
Investment income

7.88%
Other

0.98%
$0
$25,000
$50,000
$75,000
$100,000
$125,000
$150,000
$175,000
$200,000
$225,000
$250,000
$275,000
$300,000
$325,000
$350,000
Fiber optic Fire
communications
Sewer Refuse disposal Electric Water
Expenses Program Revenues

13 213 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

Government’s Funds Financial Analysis

As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Governmental Funds

The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and balances of spending resources. Such information is useful in assessing the City’s financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year.

As of the end of the current fiscal year, the City’s governmental funds reported combined ending fund balances of $542,896, an increase of $4,145 in comparison with the prior year. About 13.3% of this total amount, $71,944 constituted unassigned fund balance, which was available for spending at the government’s discretion. The remainder of fund balance in the amount of $470,952 was not available for new spending because it was either nonspendable, restricted, committed or assigned. Nonspendable fund balance was $4,990. Restricted fund balance was $348,737 which was constrained by external creditors, grantors, laws or regulations of other governments and enabling legislation. Committed fund balance was $70,492 and the assigned fund balance was $46,733.

The General Fund is the chief operating fund of the City. At the end of the current fiscal year, unassigned fund balance and the City Charter Article XI Section 15 general reserve of the General Fund were $93,425 and $43,074 respectively, while total fund balance was $185,790.

The fund balance of the City’s General Fund had a net increase of $11,291 during the current fiscal year. This net increase is primarily due to the following reasons:
 Compared to the prior year, property taxes revenue increased by $5,916, primarily due to modest but steady increase in its assessed property valuation.
 Compared to the prior fiscal year, revenue from utility users’ tax increased by $4,116, mainly due to higher electricity prices and increased consumption.
 Compared to the prior fiscal year, charges for services revenue increased by $4,555. The increase was mainly due to collections of higher fire fees, emergency medical response fees, and landfill royalty tipping fees.

The Capital Improvement Fund had a fund balance of $56,045. During the current fiscal year, the fund balance increased by $3,737, primarily due to overall increase for the funding of various capital improvement projects, and transfer from the Parking Fund due to the Parking Fund closure.

14 214 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

Proprietary Funds

The City’s proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail. At the end of the year, net position was composed of $225,927 for the Sewer Fund, $438,321 for the Electric Fund, $144,682 for the Water Fund, and $22,318 for the nonmajor enterprise funds.

The net position of the Sewer Fund increased by $1,879 during the current fiscal year. The increase was mainly due to an increase in fair value of investments in accordance with GASB 31.

The net position of the Electric Fund increased by $62,625 during the current fiscal year. The increase was mainly due to higher retail revenues (residential, commercial, and industrial) contributed by an increase in sales volume and rate increase that became effective July 1, 2024. In addition, an increase in the fair value of investments in accordance with GASB 31 contributed to the increase in net position.

The net position of the Water Fund increased by $594 during the current fiscal year. The increase was mainly due to lower personnel cost, increase in the fair value of investments in accordance with GASB 31 and the proceeds from a legal settlement.

The net position of nonmajor enterprise funds decreased by $426 during the current fiscal year. The decrease was mainly due to $646 decrease in net position from Refuse Disposal Fund, attributed by increased costs for waste disposal and personnel expenses.

General Fund Budgetary Highlights

Revenues. In comparison to the FY 2024-25 final General Fund revenue budget, the actual revenue received inclusive of transfers in, came in higher by $20,956 mainly due to the unrealized gains in interest revenue, recorded in accordance with GASB 31 in the amount of $6,173, unbudgeted interest income and unrealized gains from the Section 115 PERS Stabilization Trust Fund in the net amount of $3,991, and unbudgeted new leases recorded as other financing source in accordance with GASB 87 in the amount of $1,602. Additional higher-than-expected collections were seen in several revenue categories, including Property Taxes ($1,603), Sales Taxes ($316), Utility Users Tax (UUT) ($840), Charges for Services ($2,763), and Transfers In ($1,995).

Property tax revenues from secured and unsecured rolls in the current year were slightly below projections provided by the City’s consultant. This variance was primarily due to a flattening in home sale prices and a reduced number of home sales in calendar year 2024 compared to 2023, driven by high interest rates and shortage of housing supply. However, this shortfall was offset by higher-than-expected property tax revenue related to AB 1X26, stemming from the dissolution of the redevelopment agency, after paying for outstanding obligations of the successor agency.

Sales tax revenue collected from Bradley-Burns was lower than what was forecasted by the City’s consultant.

However, this was offset by stronger-than-anticipated Measure S revenues largely due to a major business- industrial purchase tied to a local project. The overall slowdown in sales tax growth reflects a market correction following several years of consistent increases, combined with reduced sales in the auto and transportation category, reflecting stiff competitive pressures and cautious consumer behavior.

For UUT, the variance is primarily due to higher-than-anticipated Electric UUT collection, driven by increased electricity rates and elevated consumption levels.

15 215 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

The Charges for Services category ended the year with more revenues received, primarily due to higher-than- anticipated Emergency Medical Response fees. In addition, the City received a one-time Scholl Canyon Landfill royalty tipping fee payment, which addressed deficiencies in the Lease Payments from prior quarters and further contributed to the overall increase.

Transfers In were higher than expected primarily due to the collapse of the Parking Fund into the General Fund. At the time of the closure, the Parking Fund maintained a higher-than-anticipated fund balance, which enabled a larger transfer amount than originally projected.

Expenditures. The FY 2024-25 final expense and transfers out budget increased during the year by $8,369 in comparison to the original expense budget. The increase was driven by budget carryovers for Council approved programs and projects that were not yet completed, in the net amount of $3,846, along with various Council approved budget amendments and transfers in the amount of $4,523.

Compared to the FY 2024-25 final General Fund expense budget, the actual expenditures and transfers out were underspent by $4,014. The variance is largely due to savings in contractual services across multiple departments in the amount of $5,533, of which some of the budget will carry over into FY 2025-26 for services that have not yet been completed. Additional savings were realized in other maintenance & operations in the amount of $7,656. Further savings were realized in transfers out in the amount of $1,750, resulting from reduced transfers to the Fleet Management Fund, Building Maintenance Fund, and the Capital Improvement Fund. The reductions in transfers were part of budget balancing strategies designed to mitigate projected revenue shortfalls in the General Fund.

These savings were partially offset by an overage of $9,323 in the salaries and benefits category, driven by rising personnel costs, lower-than-anticipated vacancy savings, and higher overtime expenditures in the Police and Fire departments. Additionally, an unbudgeted Capital Outlay - Leases expenditure was recorded in accordance with GASB 87 in the amount of $1,602.

Capital Asset and Debt Administration

Capital assets. The City’s investment in capital assets for its governmental and business-type activities, as of June 30, 2025, is $1,985,413. This investment in capital assets includes land, natural gas reserve, buildings and improvements, machinery and equipment, infrastructure, intangible assets, construction in progress, right- to-use lease, and subscription. The total increase in the City’s investment in capital assets for the current fiscal year was 15.8%, and this represents 2.5% increase for governmental activities and a 35.8% increase for business-type activities.

Major capital asset events during the current fiscal year included the following:

 The following projects contributed to the increase in government-wide capital assets: Fremont Park Renovation ($11,294), San Fernando Road Beautification ($7,249), Downtown Glendale Traffic Synchronization ($3,815), Central Building Forward ($2,821), La Crescenta Avenue Rehabilitation $2,278), and View Crest Road Pavement Rehabilitation ($2,040).

 The capital asset purchase of New Flyer Xcelsior XE35 Buses for $5,265 also added to the increase in government-wide assets.

16 216 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

 Projects in the Electric Fund and Water Fund that contributed to the increase in the business-type capital assets activities include the Grayson Project ($232,898), Biogas Renewable Generation ($17,192), GWP City Owned-Solar Program ($2,497) and Pipeline – Chilton/Kenneth Phase ($2,433).

 The following assets in the Sewer Fund and Refuse Fund contributed to the increase in the business- type capital assets activities: Hyperion Wastewater System ($1,616) and Automated Container ($2,792).

 The right-to-use lease asset increased due to the Police Department’s Automatic License Plate Reader (ALPR) camera equipment lease in the amount of $1,921.

 The following GASB 96 Subscription-Based Information Technology Agreement (SBITA) assets increase due to the following subscriptions: Crayon Software Experts ($850), TommyTQL ($417), Neogov ($421), Core Security ($242) and Electric Trading Software ($236).

City of Glendale’s Capital Assets
(Net of Depreciation, Depletion and Amortization)

Governmental
Activities

Business-type
Activities

Total
2025 2024 2025 2024 2025 2024
Land $ 459,195 459,195 9,557 9,557 468,752 468,752
Construction in progress 36,819 64,227 422,559 169,246 459,378 233,473 SBITA in progress - - 91 - 91 -
Right-to-use lease asset-land - - 114 272 114 272
Buildings and improvements 255,669 235,749 178,711 178,671 434,380 414,420 Machinery and equipment 47,472 39,439 154,764 158,622 202,236 198,061 Infrastructure 247,617 221,274 103,457 106,252 351,074 327,526 Natural gas reserve - - 5,817 6,365 5,817 6,365
Intangible assets 3,708 4,535 51,825 53,378 55,533 57,913 Right-to-use lease assets 2,843 2,030 - - 2,843 2,030 Subscription assets 4,730 5,723 465 513 5,195 6,236 Total capital assets, net $ 1,058,053 1,032,172 927,360 682,876 1,985,413 1,715,048

Additional information on the City’s capital assets can be found in Note 6.

17 217 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

Long-term debt. The City’s total long-term debt has a net increase of $169,007 (42.2%) in FY 2024-25. The net increase was mainly due to the issuance of new Electric Revenue Bonds, 2024 Second Series to provide money for the construction of the Grayson Repowering project, Scholl Canyon Landfill Biogas Renewal Generation project and other electric system capital improvements.

Governmental
Activities

Business-type
Activities

Total
2025 2024 2025 2024 2025 2024
Bonds payable:

GMFA lease revenue bonds,
2019 refunding $ 15,331 18,045

- -

15,331 18,045
Electric revenue bonds, 2016 refunding - - 56,779 61,313 56,779 61,313 Electric revenue bonds, 2024 refunding - - 57,359 60,611 57,359 60,611 Electric revenue bonds, 2024 series - - 186,987 190,101 186,987 190,101 Electric revenue bonds, 2024 second series - - 185,999 - 185,999 - Water revenue bonds, 2012 series - - 31,124 31,796 31,124 31,796 Water revenue bonds, 2020 refunding - - 30,737 32,702 30,737 32,702 Total bonds payable 15,331 18,045 548,985 376,523 564,316 394,568

Leases payable 2,486 2,094 103 110 2,589 2,204
Subscriptions payable 2,078 3,100 333 437 2,411 3,537 Total long-term debt $ 19,895 23,239 549,421 377,070 569,316 400,309

Additional information on the City’s long-term debt can be found in Note 7.

Credit ratings
Municipal bond ratings provide investors with a simple way to compare the relative investment quality of different bonds. Bond ratings express the opinions of the rating agencies as to the issuer’s ability and willingness to pay debt service when it is due. In general, the credit rating analysis includes the evaluation of the relative strengths and weaknesses of the following four factors as they affect an issuer’s ability to pay its debt service: fiscal, economic, debt and administrative/management factors. The City maintains high general credit ratings from all three national rating agencies, demonstrating its strong capacity to meet financial obligations despite challenging economic conditions.

The City's bond ratings as of June 30, 2025 are as follows:

Debt Issue Moody’s S&P Fitch
Issuer credit rating (Implied General Obligation) Aa2 AA+ AA+ 2019 Lease revenue refunding bonds - AA AA
Electric revenue bonds, 2016 refunding - A+ A+
Electric revenue bonds, 2024 refunding - A+ A+
Electric revenue bonds, 2024 series - A+ A+
Electric revenue bonds, 2024 second series - A+ A+
Water revenue bonds, 2012 series Aa3 AA- AA
Water revenue bonds, 2020 refunding - AA- AA

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CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

Debt Administration
The City’s debt administration obligations are as follows:

 Pay debt service timely;

 Monitor trustee-held accounts and guaranteed investment contracts;

 Comply with bond covenants and Internal Revenue Service (IRS) rules and regulations;

 Provide continuing disclosure and other reports to the municipal bond market;

 Manage liquidity and credit enhancement contracts.

Continuing Disclosure

On November 10, 1994, the Securities and Exchange Commission (“SEC”) adopted amendments to existing federal regulations (“Rule 15c-12” or the “Rule”) under which municipalities issuing securities on or after July 3, 1995 are required to:

 Prepare official statements meeting current requirements of the Rule;

 Annually file certain financial information and operating data with national and state repositories;

 Prepare announcements of the significant events enumerated in the Rule.

As of June 30, 2025, the City has seven series of bonds subject to continuing disclosure requirements. The City prepares the continuing disclosure (financial and operating information) for its four Electric and two Water series bonds, and engaged a financial advisor, Harrell & Company Advisors, LLC to prepare the continuing disclosure for one GMFA bond. The City also engaged Harrell & Company Advisors, LLC as dissemination agent to post all seven series of bonds’ Continuing Disclosure annual reports and the City financial statements on the MSRB’s Electronic Municipal Market Access (“EMMA”) website. The dissemination agent will also prepare any notices of material events and post such notices on EMMA. Timely and accurate communication with the municipal marketplace is vital in retaining the City’s creditworthiness and market access. Continuing disclosure and compliance reporting constitute a significant part of debt management’s compliance activity for the life of each series of bonds.

In July 2024, the GMFA 2019 lease revenue refunding bonds was issued a six-month expenditure exception arbitrage for the computation period ending December 25, 2019, since all bond proceeds were spent prior to the bond’s issuance date. The Water revenue bonds, 2020 refunding series incurred an arbitrage for $108 for the interim computation period from August 6, 2020 through August 6, 2025.

Next Year’s Budget and Rates

The total citywide adopted appropriation for FY 2025-26 is $1,236,000, with $352,500 of that amount in the General Fund. The FY 2025-26 adopted General Fund budget reflects an increase of approximately $22,800 when compared to the FY 2024-25 revised budget.

The FY 2025-26 adopted General Fund resource estimates are $352,500.

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CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

Property tax receipts are estimated to be approximately $87,900, which is $3,400, or 4.0%, above the prior year’s revised estimate. The City continues to experience growth in its property tax revenues, however, has seen an overall flattening in home sale prices and a decrease in the number of home sales in calendar year 2024 compared to 2023, mainly due to higher interest rates, impacting supply. Thus, the City’s property tax consultants have forecasted modest growth in property taxes for FY 2025-26 and outward.

Sales tax revenues are estimated to be approximately $86,800, which is 0.9% above the prior year’s revised estimate. Sales tax growth’s modest increase is largely due to an overall market correction following consistent above-average growth from prior years, combined with reduced sales in the auto and transportation sectors, an area of significant reliance for the City.

Utility users tax (UUT) is estimated to be approximately $34,200, which is a 6.5% increase from the prior year’s revised estimate. Much of the projected increase is for the Electric UUT due to an expected increase in Electric operating revenues as a direct result of the Cost-of-Service Assessment (COSA) completed by GWP. However, as in years past, the City anticipates a continued decline in telecommunication revenues based on a decrease in consumers’ usage of voice and text and increasing data usage (internet access and internet access-based apps). Data services have been deemed as exempt from taxation by courts in California and other jurisdictions nationwide. Cable revenue also continues to slowly decline as customers cancel traditional cable television services in favor of streaming services, resulting in lower bill and corresponding tax collection.

Occupancy tax receipts are estimated to be approximately $11,500, which is a 6.6% increase from the prior year’s estimate. The travel industry has experienced growth, driven by rising travel demand. This positive trend is expected to continue to FY 2025-26.

License and permits are estimated to be $9,400, which is a 16.7% decrease from the FY2024-25 revised estimate. Projected decrease can be attributed to less building and planning permits being submitted/requested.

Charges for services are estimated to be $43,000, which is a 19.6 % increase from the FY2024-25 revised estimate. Projected increase is a result of the Parking Fund collapsing into the General Fund beginning FY2025-26, partially offset by a decrease in Landfill Host Assessment and Tipping fees due to reduced tonnage.

The net increase in the salaries and benefits category is approximately $29,800. The revised FY2024-25 budget included $9,600 of vacancy savings built in. Due to successful recruitment efforts, vacancy savings have been reduced to $2,000. Remainder of net increase in salaries and benefits is attributed to cost of living adjustments and normal step progressions. From this, $2,100 is attributed to cost of living adjustments in the Fire Department and $4,100 is associated with salaries and benefits coming from the collapse of the Parking Fund into the General Fund. The Police Department had an increase of $16,000 resulting from a combination of cost of living adjustments, addition of 22 net sworn positions approved by City Council in December 2024 as part of Project 300, and increased overtime costs.

As anticipated, the cost for PERS is one of the largest expense obligations for the City. The budgeted PERS cost contributed to $2,800, which is 4.7% of the increase in salaries and benefits. To mitigate the continuously rising PERS costs, during the FY 2017-18 budget adoption, the City Council proactively voted to establish a Section 115 Pension Rate Stabilization Trust. Since the establishment of the Trust, the City Council authorized the initial deposit of $26,500 in FY 2017-18 and an additional deposit of $5,500 in FY 2019-20, for a total deposit of $32,000 of one-time surplus revenues. The total ending balance as of June 30, 2025, is $45,270 which provides a 4.82% average annual rate of return since inception. This decision demonstrates the City

20 220 of 572

CITY OF GLENDALE
Management’s Discussion and Analysis
June 30, 2025
(in thousands)

Council’s commitment to keep rising PERS costs at a manageable level with City staff actively assessing other strategies and funding solutions in the coming years to address the rising trend in PERS costs.

Requests for Information

This financial report is designed to provide a general overview of the City’s finances for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to Director of Finance, 141 North Glendale Avenue, Suite 346, Glendale, CA 91206.

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Exhibit A-1
Governmental
Activities
Business-Type
Activities Total
ASSETS
Current assets:

Pooled cash and investments 621,919$ 370,092$ 992,011$ Cash and investments with fiscal agent - 4 3,907 43 ,907 Accounts receivable, net 6 6,464 56 ,246 122,710
Interest receivable 3,415 3,557 6 ,972
Leases receivable 1,019 102 1 ,121
PPP receivable 171 53 224
Internal balances 2 0,641 (20,641) -
Investment-gas/electric commodity - 7, 023 7 ,023 Inventories 1,126 2 0,615 21 ,741
Prepaid items 7,037 1 0,195 17 ,232
Total current assets 7 21,792 491,149 1,212,941
Noncurrent assets:

Restricted cash and investments 10 7,833 1 2,306 120,139 Designated cash and investments - 1 65,712 165,712 Leases receivable 3 1,381 1,421 32,802
Loans receivable 6,837 - 6 ,837
PPP receivable 1,655 - 1 ,655
Capital assets, net 5 62,039 495,039 1,057,078
Capital assets, not being depreciated 4 96,014 432,321 928,335 Total noncurrent assets 1 ,205,759 1,106,799 2,312,558 Total assets 1,927,551 1,597,948 3,525,499

DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources related to OPEB
1 ,568 379 1 ,947
Deferred outflows of resources related to pensions 11 0,914 2 2,676 133,590 Loss on refunding - 2, 865 2 ,865
Total deferred outflows of resources 1 12,482 2 5,920 138,402 Total assets and deferred outflows of resources 2, 040,033 1,623,868 3,663,901

LIABILITIES
Current liabilities:

Accounts payable
2 3,948 1 25,009 148,957
Accrued wages and withholding 1 2,316 3,127 15,443 Bonds payable 2,829 1 7,363 20 ,192
Claims payable 1 6,294 - 16,294
Compensated absences 9, 124 - 9 ,124
Deposits 8,230 3,568 11,798
Interest payable 54 9,636 9 ,690
Leases payable 936 4 9 40
Subscriptions payable 1,312 110 1 ,422
OPEB liability 294 81 375
Unearned revenues 2 7,692 - 27,692
Total current liabilities 103,029$ 158,898$ 261,927$ Primary Government

CITY OF GLENDALE
Statement of Net Position
June 30, 2025
(amounts expressed in thousands)
See accompanying notes to basic financial statements
(Continued)

23 224 of 572

Exhibit A-1
Governmental
Activities
Business-Type
Activities Total
Primary Government

CITY OF GLENDALE
Statement of Net Position
June 30, 2025
(amounts expressed in thousands)
Noncurrent liabilities:

Bonds payable 12,502$ 531,622$ 544,124$
Claims payable 6 7,255 - 67,255
Compensated absences 5 0,861 - 50,861
Landfill postclosure 8 6,488 - 86,488
Leases payable 1,550 99 1 ,649
Subscriptions payable 766 223 9 89
OPEB liability 5,700 1,829 7 ,529
Net pension liability 5 37,834 112,536 650,370
Total noncurrent liabilities 7 62,956 646,309 1,409,265 Total liabilities 865,985 805,207 1,671,192

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases 3 0,779 1,373 32,152 Deferred inflows of resources related to OPEB 6 ,139 1,660 7 ,799 Deferred inflows of resources related to pensions 1, 281 232 1 ,513 Deferred inflows of resources related to PPP 1 ,653 53 1 ,706 Gain on refunding - 4, 736 4 ,736
Total deferred inflows of resources 39 ,852 8,054 47,906 Total liabilities and deferred inflows of resources 9 05,837 813,261 1,719,098

NET POSITION
Net investment in capital assets 1 ,030,243 3 22,494 1,352,737 Restricted for:

Air quality improvement 1,467 - 1 ,467
Cable access 5,113 - 5 ,113
Capital projects 6 6,796 - 66,796
Carbon emissions - 1 0,255 10 ,255
Electric public benefit AB1890 1 8,023 - 18,023
Federal and state grants 9,687 - 9 ,687
Impact fee funded projects 26 ,052 - 26,052
Landscaping district 253 - 25 3
Low and moderate housing 5, 265 - 5 ,265
Low carbon fuel standard - 2, 051 2 ,051
Pension stabilization 4 5,270 - 45,270
Public safety 4,696 - 4 ,696
Public works 4,573 - 4 ,573
State gas tax mandates 2 6,354 - 26,354
Transportation 6 3,248 - 63,248
Urban art 9,377 - 9 ,377
Unrestricted (182,221) 475,807 293,586
Total net position 1,134,196$ 810,607$ 1,944,803$
See accompanying notes to basic financial statements
24 225 of 572

Exhibit A-2
Expenses
Charges for
Services
Operating
Grants and
Contributions
Capital
Grants and
Contributions
Governmental
Activities
Business-
Type
Activities Total
Governmental activities:

General government $ 24,746 $ 22, 979 -$ -$ (1,767)$ $ - (1,767)$ Police 1 30,387 2,384 2, 548 118 ( 125,337) - ( 125,337) Fire 91,547 18,930 1,687 17 ( 70,913) - ( 70,913) Public works 57,382 27,630 20, 251 9,993 492 - 4 92 Transportation 24,879 1,613 29,936 169 6,839 - 6, 839 Housing, health and
community development 87,255 12,711 59, 003 4,318 ( 11,223) - ( 11,223) Employment programs 9,179 3, 111 6, 384 - 316 - 3 16 Public service 7, 063 10,260 - - 3,197 - 3, 197 Parks, recreation and
community services
29,779 6,897 1, 993 2,681 ( 18,208) - ( 18,208) Library, arts and culture 1 5,940 550 291 2, 148 ( 12,951) - ( 12,951) Interest and fiscal charges 40 0 - - - (400) - ( 400) Total governmental activities 4 78,557 1 07,065 122,093 19,444 ( 229,955) - ( 229,955) Business-type activities:

Sewer Fund 27,884 26,074 - - - ( 1,810) (1,810) Refuse Disposal Fund 25 ,928 23,954 95 - - ( 1,879) (1,879) Fiber Optic Fund 63 239 - - - 176 176
Fire Communication Fund 6,671 6, 230 5 - - ( 436) (436) Electric Fund 265 ,898 3 25,843 19 3,184 - 6 3,148 63,148 Water Fund 56,280 53,171 - 651 - ( 2,458) (2,458) Total business-type activities 3 82,724 4 35,511 119 3, 835 - 5 6,741 56,741 Total primary government $ 861 ,281 $ 542,576 122,212$ 23,279$ (229,955)$ 56,741$ (173,214)$ 13,234 37,976 51,210
86,149 - 8 6,149
86,359 - 8 6,359
32,998 - 3 2,998
11,022 - 1 1,022
4,474 4,707 9,181
30,615 (30,615) -
264,851 12,068 276,919
34,896 68,809 103,705
1,106,990 747,600 1, 854,590
(7,690) (5,802) (13,492)
1,099,300 741,798 1, 841,098
1,134,196$ 810,607$ 1,944,803$
Net position - beginning as restated
Net position - ending
Transfers
Total general revenues and transfers
Change in net position
Net position - beginning, as previously reported
Change in Accounting Principle
Property tax
Sales tax
Utility users tax
Occupancy tax
Other
Net (Expense) Revenue and
Changes in Net Position
Program Revenues Primary Government
General revenues:

Investment income

CITY OF GLENDALE
Statement of Activities
For the Year Ended June 30, 2025
(amounts expressed in thousands)
See accompanying notes to basic financial statements
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MAJOR GOVERNMENTAL FUNDS

 1010-1050 – General Fund - To account for all financial resources, except those required to be accounted for in another fund.

 2020 – Housing Assistance Fund - To account for monies received and expended by the City under Section 8 of the Federal Housing and Urban Development Act for housing assistance to low and moderate income families.

 4010 – Capital Improvement Fund - To account for financial resources used for major capital projects of the general government operations.

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Exhibit B-1
General Fund
1010-1050
Housing
Assistance
Fund
2020
Capital
Improvement
Fund
4010
Total
Nonmajor
Funds
Total
Governmental
Funds
ASSETS
Pooled cash and investments 124,722$ 5,606$ 57,052$ 264,471$ 451,851$ Restricted cash and investments 4 5,270 - - 6 2,563 107,833 Leases receivable 32 ,197 - - 203 3 2,400
PPP receivable 1,826 - - - 1, 826
Accounts receivable, net 28, 490 323 - 3 6,859 65 ,672 Interest receivable 1,699 - - 546 2, 245
Loans receivable - - - 6, 837 6,837
Due from other funds 8,492 - - - 8, 492
Inventories 269 - - - 269
Prepaid items 93 4,107 360 161 4, 721
Total assets 243,058 10,036 57 ,412 371,640 682 ,146

LIABILITIES
Accounts payable
4,617 66 1,366 13, 996 20 ,045
Deposits 8,112 - - 117 8, 229
Due to other funds - - - 8, 492 8,492
Unearned revenues 96 - - 2 7,596 27 ,692
Wages and benefits payable 1 1,771 140 1 69 9 1 2,611 Total liabilities 24,596 206 1, 367 50, 900 77 ,069

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
3 0,590 - - 189 3 0,779
Deferred inflows of resources related to PPP 1 ,653 - - - 1, 653 Unavailable revenues 429 87 - 2 9,233 29 ,749
Total deferred inflows of resources 32 ,672 87 - 2 9,422 62 ,181 Total liabilities and deferred inflows of resources 57,268$ 293$ 1,367$ 80,322$ 139,250$

CITY OF GLENDALE
Balance Sheet
Governmental Funds
June 30, 2025
(amounts expressed in thousands)
See accompanying notes to basic financial statements
(Continued)

29 230 of 572

Exhibit B-1
General Fund
1010-1050
Housing
Assistance
Fund
2020
Capital
Improvement
Fund
4010
Total
Nonmajor
Funds
Total
Governmental
Funds

CITY OF GLENDALE
Balance Sheet
Governmental Funds
June 30, 2025
(amounts expressed in thousands)

FUND BALANCES (DEFICITS)
Nonspendable
Inventory 269$ -$ -$ -$ 269$
Prepaid 93 4,107 360 161 4, 721
Restricted
Air quality improvement - - - 1, 467 1,467
Cable access - - - 5, 113 5,113
Capital projects - - - 6 6,796 66 ,796
Electric public benefit AB1890 - - - 1 8,023 18 ,023 Federal and state grants - 5, 636 - 4, 051 9,687
Impact fee funded projects - - - 2 6,052 26 ,052 Landfill postclosure - - - 6 2,563 62 ,563
Landscaping district - - - 253 253
Low and moderate housing - - - 5, 265 5,265
Pension stabilization 45 ,270 - - - 4 5,270
Public safety - - - 4, 696 4,696
Public works - - - 4, 573 4,573
State gas tax mandates - - - 2 6,354 26 ,354
Transportation - - - 6 3,248 63 ,248
Urban art - - - 9, 377 9,377
Committed
Capital projects - - 5 5,685 2,307 57, 992
Debt service - - - 7, 792 7,792
Hazardous materials - - - 4, 708 4,708
Assigned
Budget carryovers 2,059 - - - 2, 059
City Charter - Article XI Sec. 15 general reserve 4 3,074 - - - 4 3,074 Parking operations 1, 600 - - - 1, 600
Unassigned 93,425 - - ( 21,481) 71 ,944
Total fund balances (deficits) 185 ,790 9,743 56, 045 291,318 542 ,896 Total liabilities, deferred inflows of resources
and fund balances (deficits) 243,058$ 10,036$ 57,412$ 371,640$ 682,146$ See accompanying notes to basic financial statements

30 231 of 572

Exhibit B-2
Fund balances of governmental funds $ 542,896
Amounts reported for governmental activities in the statement of net position are different because:

Capital, lease and subscription assets are not included as financial resources in the governmental funds 1,018,647
Long-term debt not included in the governmental funds (due within one year) (2,829) Long-term debt not included in the governmental funds (due more than one year) (12,502) Accrued interest payable for the current portion of interest due is not included in the governmental funds (54)
Long-term leases not included in the governmental funds (due within one year) (887) Long-term leases not included in the governmental funds (due more than one year) (1,132) Long-term subscriptions not included in the governmental funds (due within one year) (8) Landfill postclosure liability not included in the governmental funds (86,488) Unavailable revenue in the governmental funds is revenue in the statement of activities 29,749 Deferred outflows of resources related to pensions 110,914 Deferred inflows of resources related to pensions (1,281) Net pension liability (537,834)
Deferred outflows of resources related to OPEB 1,568
Deferred inflows of resources related to OPEB (6,139)
OPEB Liability (5,994)
Internal service funds are used to charge the cost of certain activities to individual funds, such as self insurance, and post employment benefits. The assets and liabilities of the internal service funds are included in the governmental activities in the statement of net position 85,570
Net position of governmental activities $ 1,134,196
Reconciliation of Balance Sheet

CITY OF GLENDALE
to the Statement of Net Position
June 30, 2025
(amounts expressed in thousands)
See accompanying notes to basic financial statements
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Exhibit C-1
General
Fund
1010-1050
Housing
Assistance
Fund
2020
Capital
Improvement
Fund
4010
Total
Nonmajor
Funds
Total
Governmental
Funds

REVENUES
Property tax 86,149$ $ - -$ -$ 86,149$
Sales tax 86,359 - - - 86,359
Utility users tax 32,998 - - - 32,998
Occupancy tax 11, 022 - - - 11,022
Revenue from other agencies 979 50,943 - 67, 785 119,707 Licenses and permits 11, 104 - - 2,711 13,815
Fines and forfeitures 3,036 - - 4,224 7, 260
Charges for services 38,750 - - 32, 210 70,960 Interfund revenue 19,722 - - - 19,722
Miscellaneous revenue 2, 024 16 - 930 2, 970
Use of money and property 14, 496 270 - 12, 197 26,963 Total revenues 306, 639 51,229 - 120,057 477,925

EXPENDITURES
Current:

General government 25, 573 - - 40 25,613
Police 124,570 - - 2,371 126,941
Fire 84,526 - - 4,338 88,864
Public works 19, 520 - 171 17,720 37,411
Transportation - - - 26, 290 26,290
Housing, health and community development 21,732 51,313 2, 638 11,884 87,567 Employment programs - - - 8,605 8, 605
Public service - - - 7,349 7, 349
Parks, recreation and community services 22, 449 - 17 4,122 26,588 Library, arts and culture 13, 790 - - 2,728 16,518 Debt service:

Principal retirement - Bonds - - - 2,230 2, 230 Interest - Bonds - - - 759 759
Principal retirement - Leases 637 - - 847 1, 484 Interest - Leases 27 - - 22 49
Principal retirement - Subscription 3 17 - - - 317 Interest - Subscription 2 - - - 2
Capital outlay:

Capital outlay 2,131 - 8, 230 36,318 46,679
Total expenditures 315,274 51,313 11,056 125,623 503,266 Excess (deficiency) of revenues
over expenditures (8,635) (84) (11,056) (5,566) (25,341)

OTHER FINANCING SOURCES (USES)
Transfers in 33, 066 - 14,793 1,633 49,492
Transfers out (14,742) - - (7, 186) (21,928)
Leases and subscriptions 1, 602 - - 320 1, 922
Total other financing sources (uses) 19, 926 - 14,793 (5,233) 29,486 Net change in fund balances 11, 291 (84) 3, 737 (10,799) 4, 145 Fund balances - beginning 1 74,499 9,827 52,308 302,117 538,751 Fund balances - ending 185,790$ 9,743$ 56,045$ 291,318$ 542,896$

CITY OF GLENDALE
Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
See accompanying notes to basic financial statements

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Exhibit C-2

CITY OF GLENDALE
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Net change in fund balances - total governmental funds $ 4,145 Amounts reported for governmental activities in the statement of activities are different because:

Governmental funds report capital outlays as expenditures 49,829 In the statement of activities, the cost of capital, lease and subscription assets are allocated over their estimated useful lives as depreciation and amortization expenses (26,604) Repayments of long-term debt are expenditures in the governmental funds, but the repayments reduce long-term debt in the statement of net position 2,230
Long-term debt accrued interests 9
Long-term debt premium 484
Repayments of lease principals are expenditures in the governmental funds, but the repayments reduce long-term liabilities in the statement of net position 1,484
Repayments of subscription principals are expenditures in the governmental funds, but the repayments reduce long-term liabilities in the statement of net position 317
New leases and subscriptions are other financing sources in the governmental funds, but new leases and subscriptions increase long-term liabilities in the statement of net position (1,922)
Landfill postclosure liability changed from prior year (3,429) Unavailable revenue in the governmental funds are recognized as revenues in the statement of activities
4,888
Governmental funds report pension contributions as expenditures. However, in the statement of activities, pension expense is measured as the change in net pension liability and the amortization of deferred outflows and inflows related to pensions. This amount represents the net change in pension related amounts
(6,583)
Governmental funds report OPEB benefits paid to retirees as expenditures. However, in the statement of activities, OPEB expense is measured as the change in total OPEB liability and the amortization of deferred outflows and inflows related to OPEB. This amount represents the net change in OPEB related amounts 812
Governmental funds report capital contribution as revenues 1,000 Change in net position of internal service funds allocated to governmental activities 8,236 Change in net position of governmental activities $ 34,896 See accompanying notes to basic financial statements
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Exhhibit D-1
1010-1050
Original Budget Final Budget Actual
Variance with
Final Budget

REVENUES
Property tax 84,012$ 84,546$ 86,149$ 1,603$
Sales tax 91,088 86,043 86,359 316
Utility users tax 32,677 32,158 32,998 840
Occupancy tax 10,784 10,784 11,022 238
Revenue from other agencies 3 85 385 9 79 594
Licenses and permits 11 ,339 11,339 11,104 (23 5) Fines and forfeitures 3, 300 3 ,300 3, 036 (26 4) Charges for services 38,957 35,987 38,750 2,763 Interfund revenue 19,722 19,722 19,722 -
Miscellaneous revenue 1 ,171 1 ,171 2, 024 853
Use of money and property 3, 845 3 ,845 14,496 10,651 Total revenues 2 97,280 289,280 306,639 17,359

EXPENDITURES
Current:

City Clerk 1 ,606 1 ,656 1, 406 250
City Manager 7 ,343 7 ,610 6, 656 954
City Treasurer 1 ,038 1 ,038 1, 032 6
Finance 7, 569 7 ,569 6, 628 941
Legal 5, 486 5 ,561 5, 484 7 7
Personnel 4, 882 4 ,946 4, 367 579
Non-Departmental* (9, 609) (9,609) - (9, 609)
Police 124,036 125,824 124,570 1,254
Fire 85,605 85,471 84,526 945
Public Works 19,906 20,519 19,520 999
Housing, health and community development 22, 537 25,398 21,732 3,666 Parks, recreation and community services 2 5,929 26,270 22,449 3,821 Library, arts and culture 14 ,755 14,755 13,790 965 Total current 311,083 317,008 312,160 4,848
Debt service:

Principal retirement - Leases - - 63 7 (637 )
Interest - Leases - - 2 7 (27 )
Principal retirement - Subscription - - 31 7 (317 ) Interest - Subscription - - 2 (2)
Total debt service - - 98 3 (983 )
Capital outlay:

Police - 251 1, 853 (1,602)
Fire 145 279 2 78 1
Total capital outlay 145 530 2, 131 (1,601)
Total expenditures 31 1,228 317,538 315,274 2,264 Excess (deficiency) of revenues over
(under) expenditures (13,948) (28,258) (8, 635) 19,623

OTHER FINANCING SOURCES (USES)
Transfers in 28,971 31,071 33,066 1,995
Transfers out (14 ,433) (16,492) (14 ,742) 1, 750 Leases and subscriptions - - 1 ,602 1 ,602
Total other financing sources (uses) 14,538$ 14,579$ 19,926$ 5,347$ Note:
*Projected savings for all departments were incorporated in the adopted FY 2024-25 budget.

Budgeted Amounts

CITY OF GLENDALE
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Fund
For the Year Ended June 30, 2025
(amounts expressed in thousands)
See accompanying notes to basic financial statements

35 236 of 572

Exhibit D-2
2020
Original Budget Final Budget Actual
Variance with
Final Budget

REVENUES
Revenue from other agencies 49,294$ 49,294$ 50,943$ 1,649$ Miscellaneous revenue - - 16 16
Use of money and property 59 59 270 211
Total revenues 49,353 49, 353 51, 229 1,876

EXPENDITURES
Current:

Housing, health and community development 53, 222 53, 236 51, 313 1,923 Total expenditures 53,222$ 53,236$ 51,313$ 1,923$

CITY OF GLENDALE
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Housing Assistance Fund
For the Year Ended June 30, 2025
(amounts expressed in thousands)
See accompanying notes to basic financial statements

36 237 of 572

MAJOR ENTERPRISE FUNDS

 5250 - Sewer Fund - To account for operations and maintenance of the sewer system. A significant portion of the annual appropriation pays for the operation of two wastewater treatment facilities operated by the City of Los Angeles.

 5810 - 5880 - Electric Fund - To account for the operations of the City-owned electric utility services.

 5910 - 5980 - Water Fund - To account for the operations of the City-owned water utility services.

37 238 of 572

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38 239 of 572

Exhibit E-1
Sewer
Fund
5250
Electric
Fund
5810-5880
Water
Fund
5910-5980
Total
Nonmajor
Funds
Total
Enterprise
Funds
Internal
Service
Funds
ASSETS
Current assets:

Pooled cash and investments 63,958$ 254,951$ 33,890$ 17,293$ 370,092$ 170,067$ Cash and investments with fiscal agent - 39,935 3 ,972 - 43,907 - Investment-gas/electric commodity - 7, 023 - - 7, 023 - Accounts receivable, net 3, 941 39,449 8 ,264 4, 592 56,246 2 ,318 Leases receivable - 29 73 - 102 -
PPP receivable - - - 53 53 -
Interest receivable 4 20 2, 722 295 120 3, 557 1, 170 Inventories - 20,615 - - 20,615 857
Prepaid items - 10,195 - - 10,195 2 ,316
Total current assets 68, 319 374, 919 46,494 22,058 511, 790 176,728 Noncurrent assets:

Designated cash and investments - 154,412 11,300 - 165,712 - Restricted cash and investments - 12,306 - - 12,306 - Leases receivable - 911 510 - 1, 421 -
Capital assets, net 169, 473 137,209 171,589 16,768 495, 039 38,407 Capital assets, not being depreciated 1, 521 425, 340 3, 722 1, 738 432, 321 1, 000 Total noncurrent assets 1 70,994 730,178 187,121 18,506 1, 106,799 39,407 Total assets 239, 313 1, 105,097 233,615 40,564 1, 618,589 216,135

DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources related to OPEB 6
281 82 10 379 -
Deferred outflows of resources related to pensions 1 ,305 14,045 3 ,660 3, 666 22,676 - Loss on refunding - 2, 865 - - 2, 865 -
Total deferred outflows of resources 1, 311 17,191 3 ,742 3, 676 25,920 - Total assets and deferred outflows of
resources 240,624$ 1,122,288$ 237,357$ 44,240$ 1,644,509$ 216,135$ Business-Type Activities

CITY OF GLENDALE
Statement of Net Position
Proprietary Funds
June 30, 2025
(amounts expressed in thousands)
See accompanying notes to basic financial statements
(Continued)

39 240 of 572

Exhibit E-1
Sewer
Fund
5250
Electric
Fund
5810-5880
Water
Fund
5910-5980
Total
Nonmajor
Funds
Total
Enterprise
Funds
Internal
Service
Funds
Business-Type Activities

CITY OF GLENDALE
Statement of Net Position
Proprietary Funds
June 30, 2025
(amounts expressed in thousands)

LIABILITIES
Current liabilities:

Accounts payable 8,243$ 108,516$ 7,104$ 1,146$ 125,009$ 3,901$ Bonds payable - 14,658 2 ,705 - 17,363 -
Claims payable - - - - - 16,294
Compensated absences - - - - - 9, 124
Deposits 295 2, 557 507 209 3, 568 -
Interest payable - 8, 893 743 - 9, 636 -
Leases payable - 3 1 - 4 48
OPEB liability 5 54 12 10 81 -
Subscriptions payable - 73 37 - 110 1, 304
Wages and benefits payable 1 91 1, 894 450 592 3, 127 1, 235 Total current liabilities 8 ,734 136, 648 11,559 1 ,957 158, 898 31,906 Noncurrent liabilities:

Bonds payable - 472,466 59,156 - 531,622 -
Claims payable - - - - - 67,255
Compensated absences - - - - - 50,861
Leases payable - 77 22 - 99 419
OPEB liability 1 01 1, 051 412 265 1, 829 -
Subscriptions payable - 223 - - 223 766
Net pension liability 5, 777 67,312 19,981 19,466 112, 536 - Total noncurrent liabilities 5, 878 541, 129 79,571 19,731 646, 309 119,301 Total liabilities 14, 612 677, 777 91,130 21,688 805, 207 151,207

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases - 847 526 - 1, 373 - Deferred inflows of resources related to OPEB 72 1, 152 293 143 1, 660 - Deferred inflows of resources related to pensions 13 142 39 38 232 - Deferred inflows of resources related to PPP - - - 53 53 - Gain on refunding - 4, 049 687 - 4, 736 -
Total deferred inflows of resources 85 6, 190 1, 545 234 8, 054 - Total liabilities and deferred inflows of
resources 14,697 683, 967 92,675 21,922 813, 261 151,207

NET POSITION
Net investment in capital assets 170, 289 19,102 114, 634 18,469 322, 494 36,220 Restricted for:

Carbon emissions - 10,255 - - 10,255 -
Low carbon fuel standard - 2, 051 - - 2, 051 -
Unrestricted 55,638 406, 913 30,048 3 ,849 496, 448 28,708 Total net position 225,927$ 438,321$ 144,682$ 22,318$ 831, 248 64,928$ because the net adjustment pertains to items on the statement of net position of certain internal service funds reported with business-type activities. (20, 641) Total net position of business-type activities 810,607$ Some amounts reported for business-type activities in the statement of net position are different See accompanying notes to basic financial statements

40 241 of 572

Exhibit E-2
For the Year Ended June 30, 2025
Sewer
Fund
5250
Electric
Fund
5810-5880
Water
Fund
5910-5980
Total
Nonmajor
Funds
Total
Enterprise
Funds
Internal
Service
Funds

OPERATING REVENUES
Charges for services $ 26 ,074 $ 311,189 $ 51,597 $ 3 0,415 $ 41 9,275 $ 12 9,083 Miscellaneous revenue 10 1 6,499 1,585 732 18, 826 165 Total operating revenues 26, 084 327,688 53,182 31 ,147 438,101 129,248

OPERATING EXPENSES
Salaries and benefits 4, 284 45, 303 10,222 13 ,543 73 ,352 2 3,467 Claims and settlement - - - - - 61, 878
Maintenance and operation 23 ,882 204,847 45,022 19 ,494 293,245 44 ,232 Total operating expenses 28, 166 250,150 55,244 33 ,037 366,597 129,577 Operating income (loss) (2, 082) 77, 538 (2,062) ( 1,890) 71,504 (329)

NONOPERATING REVENUES
(EXPENSES)
Intergovernmental grants - 19 - 10 0 11 9 -
Use of money and property 3, 961 31, 067 3,181 1,364 3 9,573 1 0,733 Interest expense - (17, 770) (1,660) - ( 19,430) (84) Litigation settlement - - 519 - 51 9 -
Cost of issuance - (67 5) - - (675) -
Loss on asset disposal - (1, 123) ( 35) - ( 1,158) - Total nonoperating revenues
(expenses) 3,961 11, 518 2,005 1,464 1 8,948 1 0,649 Income (loss) before contributions
and transfers 1,879 89, 056 (57) ( 426) 90, 452 1 0,320 Transfers in - - - - - 2,050
Capital grants and contributions - 3, 184 6 51 - 3,835 - Transfers out - (29, 615) - - ( 29,615) -
Change in net position 1, 879 62, 625 59 4 (426 ) 64, 672 1 2,370 Net position - beginning, as
previously reported 224,048 375,696 144,088 22 ,744 66,050 Change in Accounting Principle - - - - (13,492) Net position - beginning as restated 22 4,048 375,696 144,088 22 ,744 52,558 Net position - ending $ 225 ,927 $ 43 8,321 $ 144,682 $ 22,318 $ 64,928 4,137
$ 68,809
Business-Type Activities
Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds Changes in net position of business-type activities

CITY OF GLENDALE
Statement of Revenues, Expenses, and
Changes in Net Position
Proprietary Funds
(amounts expressed in thousands)
See accompanying notes to basic financial statements

41 242 of 572

Exhibit E-3
For the Year Ended June 30, 2025
Sewer
Fund
5250
Electric
Fund
5810-5880
Water
Fund
5910-5980
Nonmajor
Enterprise
Funds
Total
Enterprise
Funds
Internal
Service
Funds

CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers 25,628$ 323,855$ 53,049$ 30,049$ 432,581$ 130,357$ Payments to employees (4, 431) (46,665) (10,355) (13,760) (75,211) (32,218) Payments to suppliers (21 ,960) (201,342) (37,568) (14,946) (275,816) (88,378) Intergovernmental grants received - 19 - 10 0 1 19 - Net cash provided (used) by operating activities (763 ) 7 5,867 5 ,126 1,443 81,673 9 ,761

CASH FLOWS FROM NONCAPITAL FINANCING

ACTIVITIES
Litigation settlement - - 51 9 - 51 9 -
Lease and PPP revenue received - 81 5 2 54 76 1 ,145 44 Transfers in (out), net - (29 ,615) - - (29 ,615) 2,050 Net cash provided (used) by
noncapital financing activities - (28 ,800)
773 76 (27 ,951) 2,094

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Acquisition of capital assets (2, 121) (173,988) (2, 340) (4, 091) (182,540) (11,658) Capital grants and contributions received - 3 ,184 6 51 - 3 ,835 - Proceeds from bonds issuance - 18 7,862 - - 18 7,862 - Interest paid on long-term debt - (16 ,284) (1, 961) - (18 ,245) - Principal payments - (10 ,115) (2, 415) - (12 ,530) - Proceeds from sales of capital assets - 24 6 93 11 4 4 53 4 00 Cost of issuance - (675) - - (675) -
Net cash provided (used) by capital and
related financing activities
(2, 121) (9, 770) (5, 972) (3, 977) (21,840) (11,258)

CASH FLOWS FROM INVESTING ACTIVITIES
Investment - gas/electric commodity - 2 ,000 - - 2 ,000 - Interest received 3, 988 28,945 2 ,834 1,190 36,957 10,244 Net cash provided (used) by investing activities 3, 988 30,945 2 ,834 1,190 38,957 10,244 Net increase (decrease) in cash and cash equivalents 1, 104 68,242 2 ,761 (1, 268) 70,839 10,841 Balances - beginning of year 62 ,854 39 0,964 46,401 18,561 51 8,780 1 59,226 Balances - end of the year 63,958$ 459,206$ 49,162$ 17,293$ 589,619$ 170,067$ Business-type Activities

CITY OF GLENDALE
Statement of Cash Flows
Proprietary Funds
(amounts expressed in thousands)
(Continued)
See accompanying notes to basic financial statements

42 243 of 572

Exhibit E-3
For the Year Ended June 30, 2025
Sewer
Fund
5250
Electric
Fund
5810-5880
Water
Fund
5910-5980
Nonmajor
Enterprise
Funds
Total
Enterprise
Funds
Internal
Service
Funds
Business-type Activities

CITY OF GLENDALE
Statement of Cash Flows
Proprietary Funds
(amounts expressed in thousands)
Reconciliation of operating income (loss) to net cash
provided (used) by operating activities:

Operating Income (loss) (2,082)$ 77,538$ (2,062)$ (1,890)$ 71,504$ (329)$ Adjustments to reconcile operating income (loss) to net cash provided (used) by operating activities:

Depreciation 3 ,649 16,424 7 ,372 3,094 30,539 8 ,998 Amortization 3,145 16 4 3 3 ,168 8 17
Depletion - 55 1 - - 55 1 -
Intergovernmental grants - 19 - 10 0 1 19 -
Increase (Decrease) Deferred inflows from PPP - - - (70 ) (70) - (Increase) Decrease Accounts receivable, net (508 ) (4, 133) (202) (474) (5, 317) 1 ,114 (Increase) Decrease Inventories - (7, 806) - - (7, 806) (69) (Increase) Decrease Prepaid expenses - 21,758 - - 21,758 (613) (Increase) Decrease Deferred outflows from OPEB 1 69 21 2 93 - (Increase) Decrease Deferred outflows from pension 832 8, 109 2,265 2,299 13,505 - Increase (Decrease) Accrued wages payable 2 0 16 5 77 53 31 5 1 48 Increase (Decrease) Compensated absences - - - - - 1 ,861 Increase (Decrease) Accounts payable (5, 049) (29,475) (257) 2 67 (34,514) (3, 147) Increase (Decrease) Deposits 52 33 4 69 85 54 0 - Increase (Decrease) Claims payable - - - - - 98 1 Increase (Decrease) OPEB liability (6) (60) (14) (11) (91) - Increase (Decrease) Deferred inflows from OPEB (6) (162) (44) (12) (224) - Increase (Decrease) Deferred inflows from pension (129) (1, 419) (387) (387) (2, 322) - Increase (Decrease) Deferred inflows from leases - (47 ) (78) - (125) - Increase (Decrease) Net pension liability (68 2) (6, 014) (1, 638) (1, 616) (9, 950) - Net cash provided (used) by operating activities (763)$ 75,867$ 5,126$ 1,443$ 81,673$ 9,761$ Noncash investing, capital and financing activities
Fair value of investments 2,342 11,282 1 ,545 7 09 15,878 5 ,910 Capital-related accounts payable 706 94,698 2 ,042 38 97,484 64 9 Issuance of new subscriptions payable - - - - - 2, 203 Total noncash investing, capital and financing activities 3,048$ 105,980$ 3,587$ 747$ 113,362 $ 8,762$ Reconciliation of Statement of Cash Flows
to Statement of Net Position:

Pooled cash and investments 63,958$ 254,951$ 33,890$ 17,293$ 370,092$ 170,067$ Cash with fiscal agent - 37,537 3 ,972 - 41,509 - Designated cash and investments - 15 4,412 11,300 - 16 5,712 - Restricted cash and investments - 12,306 - - 12,306 - Cash and cash equivalents at June 30 63,958$ 459,206$ 49,162$ 17,293$ 589,619$ 170,067$ See accompanying notes to basic financial statements
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44 245 of 572

PRIVATE-PURPOSE TRUST FUND

 8060-8490 – Glendale Successor Agency Private-Purpose Trust Fund - To account for the activities of Glendale Successor Agency.

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Exhibit F-1
Fiduciary Funds
Glendale Successor
Agency
Private-Purpose
Trust Fund
8060-8490
Total Custodial
Funds
ASSETS
Cash and investments 31,371$ 6,277$
Interest receivable - 18
Total assets 31,371 6,295

LIABILITIES
Accounts payable -
39 Wages and benefits payable 3 -
Total liabilities 3 39

NET POSITION
Restricted for:

Glendale Successor Agency
31,368 -
ICI system - 2,904
Unclaimed evidence - 3,352
Total net position 31,368$ 6,256$

CITY OF GLENDALE
Statement of Fiduciary Net Position
June 30, 2025
(amounts expressed in thousands)
See accompanying notes to basic financial statements

47 248 of 572

Exhibit F-2
Fiduciary Funds
Glendale Successor
Agency
Private-Purpose
Trust Fund
8060-8490 Total Custodial Funds

ADDITIONS
Property tax 142$ - $
Revenue from other agencies - 1 ,911
Charges for services - 3 ,877
Interest income 1,615 163
Unclaimed deposits - 1 ,022
Total additions 1,757 6, 973

DEDUCTIONS
Interest and amortization expense on bonds 3 7 -
Operating expenses 252 5 ,551
Refunds - 341
Total deductions 289 5 ,892
Net increase (decrease) in fiduciary net position 1,468 1, 081 Net Position - beginning of the year 2 9,900 5, 175 Net Position - end of the year 31,368$ 6,256$

CITY OF GLENDALE
Statement of Changes in Fiduciary Net Position
For the Year Ended June 30, 2025
(amounts expressed in thousands)
See accompanying notes to basic financial statements
48 249 of 572

250 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Reporting Entity
T
hese financial statements present the financial results of the City of Glendale, California (the City) and its component units as required by generally accepted accounting principles in the United States of America.

Component units are legally separate entities for which the primary government is financially accountable.

The City has two component units: the Glendale Housing Authority (the Housing Authority) and the Glendale Municipal Financing Authority (the Municipal Financing Authority). The City Council serves as the Board of the Housing Authority and the Municipal Financing Authority. Management of the City has operational responsibility for the Housing Authority and the Municipal Financing Authority as these component units are essentially managed in the same manner as other City departments. Also, the Municipal Financing Authority provides financial services entirely to the City. Therefore, these entities are reported as blended component units within the City’s annual comprehensive financial report. Both the City and its blended component units have a June 30 year-end.

Component Units
The Housing Authority was established by the Glendale City Council in 1975. The Housing Authority administers nine affordable housing program funds on behalf of the City, including (1) the Department of Housing and Urban Development (HUD) Housing Assistance Fund (often called “Section 8”), (2) the HUD HOME Grant Fund, (3) the HUD Continuum of Care Grant Fund, (4) the Affordable Housing Trust Fund that receives density bonus, inclusionary and other local affordable housing funds, (5) the state funded BEGIN Affordable Homeownership Fund, (6) the Low and Moderate Income Housing Asset Fund, (7) 2011 TABs Housing Fund, and (8) the Housing Development Impact Fee Fund, and (9) the Permanent Local Housing Allocation Fund. The Housing Authority’s mission is to provide decent, safe, and sanitary dwellings for low to moderate income families, to preserve existing affordable housing, and to increase the supply and quality of new affordable housing. The Housing Authority's financial data and transactions are included within special revenue funds and capital project fund, and no separate financial report is issued for the Authority.

The Municipal Financing Authority was established on April 9, 2019, by a joint powers authority between the City of Glendale and the Housing Authority. The stated purpose was to assist in refinancing the 2000 Variable Rate Demand Certificates of Participation under the Financing Authority. On June 25, 2019, the Municipal Financing Authority issued $24,925 fixed-rate bonds to refinance the 2000 Variable Rate Demand Certificates of Participation. The Municipal Financing Authority’s financial data and transactions are included within the Police Building 2019 Lease Revenue Refunding Bonds Fund, and no separate financial report is issued for the Municipal Financing Authority.

Government-wide and Fund Financial Statements
T
he government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the activities of the City except for the fiduciary fund. The effect of interfund activity has been removed from these statements except for the interfund services provided and used. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for services.

The statement of activities demonstrates the degree to which the direct expenses of a given function are offset by program revenues. Direct expenses are clearly identifiable with a specific function. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function. Taxes and other items not included in program revenues are reported as general revenues.

Separate fund financial statements are provided for governmental, proprietary, and fiduciary funds. Major individual governmental and enterprise funds are reported as separate columns in the fund financial statements.

The accounts of the City are organized by funds, each of which is a separate accounting entity. The operations of each fund are accounted for by providing a separate set of self-balancing accounts which are comprised of its 49 251 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

assets, deferred outflows of resources, liabilities, deferred inflows of resources, fund balance or net position, revenues, and expenditures or expenses, as appropriate. The City reports a total of 74 funds, which are comprised of the General Fund, 3 fiduciary funds, 37 special revenue funds, 1 debt service fund, 11 capital project funds, 6 enterprise funds and 15 internal service funds.

Governmental Fund Types

Governmental fund types are those funds through which most governmental functions typically are financed.

Governmental fund reporting focuses on the sources, uses, and balances of current financial resources. Expendable assets are assigned to the various governmental funds according to the purposes for which they may or must be used, current liabilities are assigned to the fund from which they are paid, and the difference between governmental fund assets and deferred outflows, and liabilities and deferred inflows is the fund balance.

The following comprise the City's major governmental funds:

 General Fund: Used to account for all financial resources, except those required to be accounted for in another fund.

 Housing Assistance - Special Revenue Fund: Used to account for monies received and expended by the City under Section 8 of the Federal Housing and Urban Development Act for housing assistance to low and moderate income families.

 Capital Improvement - Capital Project Fund: Used to account for financial resources used for major capital projects of the general government operations. The City has categorized the capital improvement fund as a major fund for public interest reasons. The City believes that this judgmentally determined major fund is particularly important to the financial statements users.

Other governmental funds consist of debt service funds which are used to account for the accumulation and disbursement of financial resources that will be used to make principal and interest payments on long-term debt of the City of Glendale, special revenue funds which account for revenue derived from specific sources as required by law, regulation or commitment, and capital projects funds which are used to account for financial resources used for the acquisition of major capital facilities other than those financed by special revenue and proprietary funds.

Proprietary Fund Types
Proprietary fund types are used to account for a government's ongoing organizations and activities which are similar to those often found in the private sector.

Enterprise funds are used to finance and account for the acquisition, operation, and maintenance of the City's facilities and services which are supported primarily by user charges. The following comprise the City's major enterprise funds:

 Sewer Fund – Used to account for operations and maintenance of the sewer system. A significant portion of the annual appropriation pays for the operation of two wastewater treatment facilities operated by the City of Los Angeles.

 Electric Fund – Used to account for the operations of the City-owned electric utility services.

 Water Fund – Used to account for the operations of the City-owned water utility services.

50 252 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Other nonmajor enterprise funds consist of Refuse Disposal, Fiber Optic and Fire Communication Funds. The Refuse Disposal Fund is used for the operations of the City-owned refuse collection and disposal services. The Fiber Optic Fund is used for the design and construction of the City-owned fiber-optic network backbone. The Fire Communication Fund is used for the monies received and expended, for the tri-city (Burbank, Glendale, and Pasadena) fire communication operations as the lead City.

Additionally, Internal service funds account for fleet management, technology and wireless equipment management and replacement, building maintenance, compensated absences, retiree health savings plan, other post-employment benefits, and risk management services (including claims for workers’ compensation, general liability, medical, dental, vision, and unemployment) provided to other departments or agencies of the government, or to other governments on a cost-reimbursement basis.

Fiduciary Fund Type

The fiduciary fund is used to account for resources held for the benefit of parties outside the City. The City maintains two different types of fiduciary funds. Private-purpose trust funds are used to report all fiduciary activities that (a) are not required to be reported in pension (and other employee benefit) trust funds or investment trust funds and (b) are held in the trust that meets certain criteria. The City uses private-purpose trust fund to account for its Glendale Successor Agency Fund. Custodial funds are used to report fiduciary activities that are not required to be reported in pension (and other employee benefit) trust funds, investment trust funds, or private-purpose trust funds. The City uses custodial funds to account for its ICI System Fund and Unclaimed Evidence Fund. Please see detailed fund descriptions in the Custodial Funds section.

Since the resources of the fiduciary fund are not available to support the City’s programs, it is not reflected in the City’s government-wide financial statements. The accounting used for the fiduciary fund is based on the economic measurement focus and the accrual basis of accounting.

In accordance with the provisions of the State of California AB X1 26 (Bill) and the California Supreme Court’s decision to uphold the Bill, the assets and liabilities of the former redevelopment agency are being reported in a Fiduciary Private-Purpose Trust Fund. The Bill provides that upon dissolution of a redevelopment agency, either the City or another unit of local government will agree to serve as the “Successor Agency” to hold the assets until they are distributed to other units of state and local government. In accordance with the timeline set forth in the Bill (as modified by the California Supreme Court on December 29, 2011) all redevelopment agencies in the State of California were dissolved and ceased to operate as a legal entity as of February 1, 2012. The assets and liabilities of the former Redevelopment Agency (Agency) were transferred to the Successor Agency to the City of Glendale Redevelopment Agency on February 1, 2012, as a result of the dissolution of the Agency. The City is acting in a fiduciary capacity for the assets and liabilities.

Measurement Focus and Basis of Accounting

The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary and fiduciary fund financial statements. Revenues are recorded when earned, and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows.

Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues.

Likewise, general revenues include all taxes.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon after to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they are collected

51 253 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

within 60 days of the end of the current fiscal period. Under the modified accrual basis of accounting, expenditures are generally recorded when a liability is incurred. However, debt service expenditures, as well as expenditures related to compensated absences, other post-employment benefits (OPEB), claims and judgments, are recorded only when payment is due.

Intergovernmental revenues are recognized in the period when all eligibility requirements imposed by the provider are met, and amounts are available.

Licenses and permits, fines and forfeitures, and miscellaneous revenues are recorded as revenue when received in cash because they are generally not measurable until actually received. In the category of use of money and property, property rentals are recorded as revenue when received in cash. However, since investment earnings are measurable and available, they are recorded as earned.

All property taxes are collected and allocated by the County of Los Angeles to the various taxing entities. Property taxes are determined annually on January 1st and assessed as enforceable liens on real property as of July 1st.

Taxes are levied on both secured and unsecured property as they exist on record as of January 1 st. The tax levy covers the fiscal period July 1 to June 30. The secured property taxes are due November 1st and February 1st and are delinquent if not paid by December 10th and April 10th, respectively. Property taxes on the unsecured roll are due upon receipt and become delinquent if unpaid on August 31st. Property tax revenues are recognized in the fiscal period for which they are levied and collected.

Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with the proprietary funds’ principal ongoing operations. The principal operating revenues of the City's enterprise and internal service funds are charges to customers for sales and services. Operating expenses for enterprise and internal service funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses.

Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources, and Fund Balance or Net Position

Pooled Cash and Investments

The City combines the cash and investments of all funds into a pool except for funds required to be held by outside fiscal agents under the provisions of bond indentures. Each fund’s portion of the pooled cash and investments is displayed on the governmental funds’ balance sheets, the proprietary funds’ statement of net position, or the fiduciary fund’s statement of net position.

The City values its cash and investments at fair value in the statement of net position and recognizes the corresponding change in the fair value of investments in the year in which the change occurred. The City categorizes the fair value measurements of its investments based on the hierarchy established by generally accepted accounting principles. The fair value hierarchy, which has three levels, is based on the valuation inputs used to measure an asset’s fair value: Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs.

The City manages its pooled idle cash and investments under a formal investment policy that is reviewed by the Investment Committee, adopted by the City Council and follows the guidelines of the State of California Government Code. Individual investments cannot be identified with any single fund because the City may be required to liquidate its investments at any time to cover large outlays required more than normal operating needs.

Interest income from the pooled cash and investments is allocated to all applicable funds monthly based upon the prior month-end cash balance of the fund and as a percentage of the month-end total pooled cash balance.

For purposes of the statement of cash flow of the proprietary fund types, cash and cash equivalents include all pooled cash and investments, restricted cash, designated cash, and cash with fiscal agents with an original maturity

52 254 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

of three months or less. The City considers the cash and investments pool to be a demand deposit account where funds may be withdrawn and deposited at any time without prior notice or penalty.

Cash and Investments with Fiscal Agents

The City hired Bank of New York Mellon as its trustee or fiscal agent to oversee the implementation of a bond or trust indenture for the Glendale Municipal Financing Authority 2019 Lease Revenue Bonds, Electric Revenue Bonds and Water Revenue Bonds.

Investment-gas/electric commodity

As of June 30, 2025, the City holds $7,023 of investment that involves simultaneous purchase and selling of physical California Carbon Allowances (CCAs) through an exchange-trade platform that removes most of the credit and financial risk from counterparties. The City purchases and holds the CCAs for a period and earns a fixed rate of return, and this derivative instrument is considered an investment and not hedging for accounting purposes.

Restricted Cash and Investments

Governmental Activities have $107,833 in restricted cash and investments as of June 30, 2025. $45,270 in the General Fund is for investments in the pension rate stabilization program that is invested in an Internal Revenue Code Section 115 Trust Fund. $62,563 in the Landfill Postclosure capital project fund is for the post-closure maintenance cost of Scholl Canyon landfill.

Electric Fund has $12,306 in restricted cash and investments as of June 30, 2025. $10,255 is for the environmental compliance mandated by the California Air Resources Board (CARB) dedicated to the reduction of carbon emissions and providing educational programs for the improvement of public health in Glendale. $2,051 is for low carbon fuel standard program offered by the California Air Resources Board (CARB) to reduce the carbon intensity of transportation fuels used in California and provide local EV programs, including education, outreach, installation of public EV charging infrastructure and EV rebate programs.

Designated Cash and Investments
The cash reserve policies for the Electric Fund and the Water Fund were first established in 2003. Its provisions call for an annual review to determine if the recommended levels are sufficient. The annual review of the cash reserve policy for the Electric Fund as of June 30, 2025 established a target of $124,100 in the following categories: $57,700 for operating reserve, $40,400 for contingency reserve; $10,000 for rate stabilization reserve, and $16,000 for gas reserve project. As of June 30, 2025, $124,100 was reserved in the Electric Fund. The annual review of the cash reserve policy for the Water Fund as of June 30, 2025 established a target of $61,518 in the following categories:
$44,721 for operating reserve, $15,303 for contingency reserve; and $1,494 for rate-stabilization reserve. As of June 30, 2025, $11,300 was reserved in the Water Fund in the following categories: $3,800 for operating reserve, $6,500 for contingency reserve, and $1,000 for rate-stabilization reserve.

As of June 30, 2025, the City has designated cash and investments of $9,400 with Southern California Public Power Authority (SCPPA) for future use in power purchase projects. As of June 30, 2025, the City has designated cash deposits of $20,912 with StoneX Financial Inc for physical and financial transactions (exchange-traded) to help offset and manage overall exposure to price fluctuations in power, gas, and emission commodities, which represents the City’s implementation of a program to purchase and sell options, calls and puts, in natural gas futures contracts and power and emission commodities at strike prices and allow the City to stabilize the ultimate price of natural gas and emission commodities for the City’s power plant.

Receivables

Interest Receivable – The City accrues interest earned but not received.

53 255 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)
Accounts Receivable – These are comprised primarily of revenues that have been earned but not yet received by the City as of June 30th from individual customers, private entities, and government agencies. This account includes accrued revenues due from other agencies for expenditure-driven types of grants whereby the City accrues grant revenues for expenditures or expenses incurred but not yet reimbursed by the grantors. Also, included in this amount are property taxes, sales taxes, to name a few, are earned but not received as of June 30th of each year. In addition, it includes charges for utility and other services provided to customers prior to year-end but not billed as of June 30th because of the billing cycle timing. Management determines the allowance for doubtful accounts by evaluating individual customer accounts. Utility customer closed accounts are written off when deemed uncollectible.

Recoveries to utility customer receivables previously written off are recorded when received. For non-utility accounts receivable, delinquent notices are sent out to customers with outstanding balances after 30 days. Outstanding accounts over 60 days are forwarded to a collection agency. As of June 30, 2025, allowance for doubtful accounts included in the accompanying financial statements are as follows: government-wide governmental activities $409, government-wide business-type activities $1,091, Housing Assistance fund $366, non-major governmental funds $43, Sewer fund $72, Electric fund $896, Water fund $60 and non-major enterprise funds $63.

Loans Receivable – The City has loans receivable from the various Glendale residents and organizations for affordable housing assistance. See Note 4 for more information.

Lease Receivable – The City measures lease receivable at the present value of lease payments expected to be received during the lease term. Interest revenue is recognized ratably over the contract term.

PPP (Public-Private and Public-Public Partnership) Receivable – The City measures PPP receivable at the present value of the installment payments expected to be received during the PPP term. Interest revenue is recognized ratably over the contract term.

Interfund Transactions
Interfund services provided and used would be treated as revenues and expenditures or expenses if the funds are involved. External organizations to the City’s government are accounted for as revenues, referred to as seller funds, and expenditures or expenses, referred to as purchaser funds, in the funds involved. For the fiscal year ended June 30, 2025, the General Fund recorded $19,722 as interfund revenue for general government services provided to other funds.

Due to/from Other Funds are used when a fund has a temporary cash overdraft. Any residual balances outstanding between the governmental activities and business-type activities are reported in the government-wide financial statements as “internal balances.”
Transfers in or out are authorized budgetary exchanges of cash between funds.

Inventories and Prepaid Items
Inventories, consisting primarily of construction and maintenance materials as well as tools held by the Electric Fund, are stated at cost, using the weighted average cost method or disposal value. Inventory shown in the General Fund and the Fleet/Equipment Management Fund consists of expendable supplies held for consumption. The consumption method of accounting is used where inventory acquisitions are recorded in inventory accounts initially and charged as expenditures when used. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements using the consumption method, such as insurance, energy purchases, rent, etc.

Capital Assets
Capital assets including land, buildings, improvements, mobile equipment, equipment, intangible, and infrastructure assets (e.g. roads, sidewalks, traffic lights and signals, street lights, etc.), are reported in the applicable governmental or business-type activities columns in the government-wide and respective proprietary fund financial statements.

Capital assets are defined by the City as assets with an initial, individual cost of $10 or $100 in aggregate and an 54 256 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

estimated useful life more than one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation. Capital outlay is recorded as expenditures of the General Fund, special revenue and capital project funds, and as assets in the government-wide financial statements to the extent the City’s capitalization is met. The cost of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Building and improvements, infrastructure and equipment assets are depreciated using the straight-line depreciation at the beginning of the following fiscal year over the following estimated useful lives:

Capital Assets Years

Building and Improvements
General Structure and Parking Lot Landscaping Improvements 10 Building and Parking Lot Improvements 20
Land Improvements 30
Buildings, Parks and Wastewater Capacity Upgrades 40
Transmission-Off System 50
Reservoir 65
Local Sewer System 80
Machinery and Equipment
Copier, Computer Systems 3-5
Police Patrol Cars 3-4
SUV, Motorcycles, Passenger Cars 3-8
Trucks, Cargo Vans, Street Sweepers 6-10
Dump/Tractor Trucks 10-12
Helicopters 20
Trailer Trucks/Emergency Response Engines 10-20
Intangible
Wastewater Treatment Plan and Conveyance System Facilities 40 Computer Software 2-8
Infrastructure (non-sewer)
Traffic Signals 15
Potable-Services 20
Supply-Mains and Wells 25
Supply-Structure Improvements 30
Supply-Springs, Tunnels, and Potable-Hydrants 40
Streets, Paved Streets, Paved Alleys and Sidewalks 50
Potable-Mains 75

In June 2005, the City elected to participate in the Natural Gas Reserve Project through SCPPA and entered into a 25-year Gas Sales Agreement with SCPPA for up to 2,000 MMBtu per day. The project calls for the acquisition and development of gas resources, reserves, fields, wells, and related facilities to provide a long-term supply of natural gas for its participants. The first acquisition was completed on July 1, 2005, with the total cost to the participants at $306,100. The City’s initial share in the project was $13,178 or 4.26%. Subsequently, capital drilling costs of $9,000 were capitalized. As of June 30, 2025, the balance for Natural Gas Reserve Project, net of accumulated natural gas depletion was $5,816.

Lease assets represent the City’s control of the right to use an underlying asset for the lease term, as specified in the contract, in an exchange or exchange-like transaction. Lease assets, which include land, structures, mobile equipment, and equipment, follow the same capitalization threshold of $10 as capital assets. Lease assets are reported in the applicable governmental and business-type activities columns in the government-wide and respective

55 257 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

proprietary fund financial statements. Lease assets are recorded at the amount of the initial measurement of the lease liabilities and modified by any lease payments made to the lessor at or before the commencement of the lease term, less any lease incentive received from the lessor at or before the commencement of the lease term along with any initial direct costs that are ancillary charges necessary to place the lease asset into service. Lease assets are amortized using a straight-line amortization over the shorter of the lease term or useful life of the underlying asset.

SBITA (Subscription-Based Information Technology Arrangements) assets represent the City’s control of the right to use another party’s Information technology software, alone or in combination with tangible capital assets specified in the contract for a period in an exchange or exchange-like transaction. SBITA assets, follow the same capitalization threshold of $10 as capital assets. SBITA assets are reported in the applicable governmental and business-type activities columns in the government-wide and respective proprietary fund financial statements. SBITA assets are recorded at the amount of the initial measurement of the SBITA liabilities and modified by any SBITA payments made to the SBITA vendor at or before the commencement of the SBITA term, less any SBITA incentive received from the SBITA vendor at or before the commencement of the SBITA term along with any initial direct costs that are ancillary charges necessary to place the SBITA asset into service. SBITA assets are amortized using a straight-line amortization over the shorter of term of the arrangement or useful life of the underlying asset.

Long-term Debt

In the government-wide financial statements and the proprietary fund types in the fund financial statements, long- term debt, and other obligations are reported as liabilities in the applicable governmental activities, business-type activities, or proprietary and fiduciary fund statements of net position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the straight-line method. Bonds payable are reported net of the applicable bond premium or discount. Bond issuance costs are expensed when incurred. In the governmental funds’ statement of revenues, expenditures and changes in fund balances, issuance of debt is recorded as other financing source or use in the respective fund. Issuance costs and payment of principal are reported as debt service expenditures.

Lease Payable

Lease payable represents the City’s obligation to make lease payments arising from the lease. Lease payable is recognized at the commencement date based on the present value of expected lease payments over the lease term, less any lease incentives. Interest expense is recognized ratably over the contract term.

Subscription Payable

Subscription payable represents the City’s obligation to make subscription payments arising from subscription-based information technology arrangements (SBITA). Subscriptions payable is recognized at the commencement date based on present value of expected SBITA payments over the SBITA term, less any SBITA incentives. Interest expense is recognized ratably over the contract term.

Compensated Absences

The liability for compensated absences reported in the government-wide and proprietary fund statements consists of leave that has not been used that is attributable to services already rendered, accumulates and is more likely than not to be used for time off or otherwise paid in cash or settled through noncash means. The liability also includes amounts for leave that has been used for time off but has not yet been paid in cash or settled through noncash means and certain other types of leave.

Changes in the City’s compensated absences liability as of June 30, 2025 were as follows:

Balance
at June 30,
2024

Net
increase
Balance
at June 30,
2025

Due within
One Year
$
58,123 1,862 59,985 9,124

56 258 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

The compensated absences liability beginning balance was restated due to the implementation of GASB Statement No. 101. The change in the compensated absence liability is presented as a net change.

Pension

For purposes of measuring the net pension liability and deferred outflows or inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City’s California Public Employees’ Retirement System (CalPERS) plans (Plan’s) and additions to or deductions from the Plan’s fiduciary net position have been determined on the same basis as they are reported by CalPERS. For this purpose, benefit payments, including refunds of employee contributions, are recognized when due and payable by the benefit terms. Investments are reported at fair value. All pensions are liquidated out of each respective funds that the payroll time was allocated to during that payroll period. Pension liabilities are liquidated from the related employees’ home programs, with the majority funded out of the General Fund and the Electric Fund. See Note 8 for more information.

Other Post Employment Benefits (OPEB)

The City’s defined benefit OPEB plan, City of Glendale Retiree Benefits Plan (Plan), provides OPEB for all permanent full-time general and public safety employees of the City. The Plan is a single-employer defined benefit OPEB plan administered by the City and governed by the City Council. No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75. The General Fund, Electric Fund and Water Fund are generally used to liquidate the OPEB liability. See Note 9 for more information.

Unearned Revenue

The unearned revenue liability reports amounts are received in advance of providing goods or services. When the goods or services are provided, this account balance is reduced, and revenue is recognized.

Property Held for Resale

Land and buildings acquired for future sale to developers have been capitalized and are shown as real property held for resale in the accompanying financial statements. Property held for resale is carried at the lower of cost or net realizable value (realizable value less cost to sell).

Fund Balance

Fund balance classifications for governmental fund types comprise a hierarchy based primarily on the extent to which a government is bound to observe constraints imposed upon the use of the resources reported in governmental funds. In the fund financial statements, the governmental funds may report nonspendable, restricted, committed, assigned, and unassigned fund balances to show the level of constraint governing the use of the funds.

 Nonspendable fund balances cannot be spent because they are in a nonspendable form, or are required to be maintained intact.

 Restricted fund balances are restricted for specific purposes by third parties or enabling legislation.

 Committed fund balances include amounts that can be used only for specific purposes determined by formal action through a resolution of the City Council, as they are the highest level of decision-making authority.

Council must have at least a 3 to 2 vote to pass a resolution for the specific purpose. These committed amounts cannot be used for any other purpose unless the City Council removes or changes the specified use through the same type of formal action taken to establish the commitment.

 Assigned fund balances comprise amounts intended to be used by the City for specific purposes but are not restricted or committed. The City Council, in the City’s most recently adopted budget resolutions, has delegated the authority to assign fund balances to the City Manager or his/her designee. The financial policies of the City are also updated to reflect this delegation of authority.

57 259 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)
 Unassigned fund balances are residual positive net resources of the General Fund in excess of what can properly be classified in one of the other four categories and include all deficit amounts in all other governmental funds.

When both restricted and unrestricted resources are available for an incurred expenditure, it is the City's policy to spend restricted resources first then unrestricted resources as necessary. When unrestricted resources are available for expenditures incurred, it is the City's policy to use committed amounts first, followed by assigned amounts, and then unassigned amounts.

Net Position
The net position represents the difference between assets and deferred outflows of resources, and liabilities and deferred inflows of resources. Net investment in capital assets, consists of capital assets, net of accumulated depreciation and amortization, reduced by non-debt capital related liabilities, added or reduced any deferred outflows/inflows of resources that is capital debt related, and reduced by the outstanding balances of any borrowings used for the acquisition, construction, or improvement of those assets, excluding unspent debt proceeds. The net position is reported as restricted when there are limitations imposed on its use either through the enabling legislation externally adopted by the citizens of the City or through external restrictions imposed by creditors, grantors, or laws and regulations of other governments.

When both restricted and unrestricted resources are available for use, it is the City’s policy to use restricted resources first, then the unrestricted resources as they are needed.

The government-wide statement reports $1,352,737 of net investment in capital assets, $298,480 of restricted net position, and $293,586 of unrestricted net position.

Deferred Outflows and Inflows of Resources
In addition to assets, the statements of net position report a separate section for deferred outflows of resources.This separate financial statement element represents a consumption of net assets that applies to a future period and will not be recognized as an outflow of resources or expenses until then. For current or advance refunding resulting in defeasance of debt, when the difference between the reacquisition price and the net carrying amount of the old debts (i.e., deferred charges) resulted in a loss, it is reported as a deferred outflow of resources and amortized to interest expense based on the straight line method over the remaining life of the old debt or the life of the new debt, whichever is shorter. When the City makes the pension contributions and OPEB payments after the measurement date, the City reports deferred outflows of resources. When there is an increase in pension and OPEB expenses arising from the recognition of changes in assumptions, differences between expected and actual experience, and difference between projected and actual earnings on pension plan investments, the City reports a deferred outflow of resources until the increase is recognized in expense. The City’s deferred outflows of resources as of June 30, 2025 is $138,402, which consists of $2,865 loss on refunding, $133,590 related to pensions, and $1,947 related to OPEB.

In addition to liabilities, the statement of net position and the governmental fund financial statements report a separate section for deferred inflows of resources. This separate financial statement element represents an acquisition of net assets that applies to a future period and will not be recognized as an inflow of resources or revenues until then. For current or advance refunding resulting in defeasance of debt, when the difference between the reacquisition price and the net carrying amount of the old debts (i.e., deferred charges) resulted in a gain, it is reported as a deferred inflow of resources and amortized to interest expense based on the straight line method over the remaining life of the old debt or the life of the new debt, whichever is shorter. When there is a decrease in pension and OPEB expense arising from the recognition of changes in assumptions and differences between expected and actual experience, the City reports a deferred inflow of resources until the decrease is recognized in expense. For leases that the City is the lessor, the amount of the initial measurement of the lease receivable is reported as a deferred inflow of resources, and amortized to lease revenue based on the straight line method over the lease term. For PPP that the City is the transferor, the amount of the initial measurement of the PPP receivable is reported as a deferred inflow of resources, and amortized to PPP revenue based on the straight line method over the PPP term. In the government-wide statement of net position, the City’s deferred inflows of resources as of 58 260 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

June 30, 2025 is $47,906, which consists of $4,736 gain on refunding, $1,513 related to pensions, $7,799 related to OPEB, $32,152 related to leases, and $1,706 to PPP. When a receivable is recorded in governmental fund financial statements but the revenue is not received within the availability period, the City reports a deferred inflow of resources until the revenue becomes available. The City has recorded deferred inflows of resources – unavailable revenues of $429 in the General Fund, $87 in the Housing Assistance Fund, and $29,233 in the nonmajor governmental funds.

NOTE 2 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
Budgets and Budgetary Accounting

The City Council is required to adopt an annual budget for the general, debt service, special revenue, enterprise, and internal service fund types. The City Council also annually adopts the capital improvement program for the capital projects funds. While the capital improvement program is planned on a ten-year basis, the City Council only approves and authorizes the budget for one year of the Capital Improvement Projects. The unspent capital improvement projects in the prior years’ budget are carried forward into the new fiscal year. Therefore, an annual budget comparison on multi-year projects is impractical.

All proprietary fund types are accounted for on a cost of service method (net income); therefore, budget comparisons are impractical. Also, the City is not legally mandated to report the results of operations for these enterprise and internal service fund types on a budget comparison basis, and so budgetary data related to these funds have not been presented.

The City utilizes an “encumbrance accounting system,” which is used to the extent necessary to assure effective budgetary control and accountability and to facilitate effective cash planning and control. Encumbrances outstanding at year-end do not constitute expenditures or liabilities, and appropriations in the General Fund lapse at the end of the year. Therefore, encumbrances are not reserved for commitments made, and year-end budget carryovers may be submitted for the remaining encumbrances. All commitments incurred will be paid with the new fiscal year’s budget and all approved budget carryovers from the prior fiscal year, including capital project appropriation carry overs.

The City, in establishing the budgetary data reflected in the basic financial statements and supplementary information, utilizes the following procedures:
 The City Charter requires that the City Manager submits to the City Council a proposed budget for the coming year on or before June 1st. The operating budget includes both the sources and types of funds for the proposed expenditure.

 In June, a public hearing is conducted to obtain citizen input, with the final budget being adopted on the same night as the public hearing or during a later date prior to July 1st.

 The budget is revised during the fiscal year to reflect all Council approved transfers and amendments.

 The level of appropriate budgetary control is at the fund level except for the General Fund, and any department shared project funds, which are controlled at the department level. Within each department or fund budget, the appropriation is further distributed across different categories such as, salary and fringe benefits, maintenance and operation, and capital outlay. There is no limit as to how much can be shifted between categories administratively if the total appropriation does not exceed the Council approved budget for each fund.

59 261 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

The following funds over expended their appropriations as of June 30, 2025:

Fund Amounts Over Expended

Hazardous Disposal Fund $ 27

Fire Mutual Aid Fund $ 1,288

In FY 2024-25, the overage for Hazardous Disposal Fund was primarily due to higher than anticipated costs in salaries and employee benefits.

In FY 2024-25, the overage for Fire Mutual Aid Fund was due to the city deployed higher than normal fire strike teams and single resources outside of the City’s jurisdiction to assist in various fire incidents.

The General Fund and Special Revenue Funds Debt Service category related to leases and subscriptions have no budget, because budgets for the lease and subscriptions payments are appropriate at department level. Due to implementation of GASB 87 – Leases, and GASB 96 – Subscription-Based Information Technology Arrangements , the lease and subscription payments are reversed, and the principal and interest related to the leases and subscriptions are recorded at the debt service category.

The General Fund Capital Outlay category for Police is overbudgeted because only the actual capital outlay payments are budgeted, but not the GASB 87 accounting recognition of capital outlay for the two new leases.

NOTE 3 – CASH AND INVESTMENTS
The City’s cash and investments as of June 30, 2025 consist of the following:

Governmental and business-type activities:

Investments $
1,203,806
Cash and investments with fiscal agents 43,907
Investment-gas/electric commodity 7,023
1,254,736
Petty cash 14
Cash held in financial institutions 74,042
Total $ 1,328,792

The following amounts are reflected in the government-wide statement of net position:

Pooled cash and investments $ 992,011
Cash and investments with fiscal agents 43,907
Investment-gas/electric commodity 7,023
Restricted cash and investments 120,139
Designated cash and investments 165,712
Total $ 1,328,792

Fiduciary activities:

Cash and investments

$ 37,648

The following amount is reflected in the fiduciary statement of net position:

Cash and investments

$ 37,648

60 262 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Authorized Investments
Allowable investments for the portfolio of the City of Glendale are limited by California State Government Code Sections 53600 et seq. They are further restricted by the City Treasurer’s investment strategy. Percentages of Investment Participation and percentages of Maximum Participation apply at the time of purchase. Purchase transactions may not exceed $10,000, nor exceed five-year maturities. Exceptions can only be approved by the City Council. The City Treasurer may invest or deposit in the following types of investments:

Maximum
Maturity
Maximum
Investment
Participation
Maximum
Investment
Exposure

U.S. Treasury Notes 5 years 100% None
Federal Agencies Securities 5 years 100% None
State of California and California Local Agencies N/A 15% 5% per issuer Obligation of Other States N/A 10% 5% per issuer
Medium Term Notes 5 years 30% 5% per issuer
Commercial Paper (A1, P1, F1 min. rating) 270 days 25% None Bankers’ Acceptances (A1, P1, F1 min. rating) 180 days 30% 10% per bank Time Deposits (FDIC Insured) 1 year 10% 5% per issuer Negotiable Certificates of Deposit (A1, P1, F1
min. rating)
1 year 30% 5% per issuer
Local Agency Investment Fund (State Pool) N/A LAIF maximum ($75,000 per
account)
None
California Asset Management Program N/A CAMP
maximum (set
by the State)
None
Money Market Mutual Funds 90 days 20% None
Los Angeles County Treasury Pool N/A 10% None

Investments Authorized by Debt Agreements

The provisions of debt agreements, rather than the general provisions of the California Government Code or the City’s investment policy, govern investments of debt proceeds and reserve funds held by fiscal bond agents.

Permitted investments are specified in related trust agreements.

No maximum percentage of the related debt issue or maximum investment in one issuer is specified.

Interest Rate Risk

Interest rate risk is the risk that fluctuations in market rates may adversely affect the fair value of an investment. The longer the maturity of an investment, the greater the sensitivity of its fair value to the changes in market interest rates. The City manages its exposure to interest rate risk by purchasing a combination of shorter term and longer- term investments, and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations.

61 263 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Governmental and business-type activities:

Remaining Maturity (in months) as of June 30, 2025
Total
12 months
or less
13 to 24
months
25 to 60
months
More than
60 months
Medium Term Notes $ 202,176 19,465 50,492 132,219 -
Federal Agency Callable Bonds 243,400 73,495 169,905 - - Federal Agency Term Notes 143,834 19,183 2,959 121,692 - State Investment Pool 111,240 111,240 - - -
CA Asset Management Program 166,547 166,547 - - -
Los Angeles County Pool 5,162 5,162 - - -
Obligations of Other States 77,988 24,817 19,500 33,671 - State and Municipal Bonds 86,646 15,339 15,381 55,926 - U.S. Treasury Notes 112,142 39,589 9,724 62,829 -
Investment Derivative Instrument 7,023 7,023 - - -
Held by Other Financial Institutions:

Federal Agency Term Notes 6,498 - 3,995 2,503 -
U.S. Treasury Notes 986 986 - - -
Money Market Accounts 1,915 1,915 - - -
Section 115 Trust Fund:

Money Market Accounts 1,003 1,003 - - -
Money Market Mutual Funds 44,268 44,268 - - -
Held by Fiscal Agents:

Money Market Accounts 41,510 41,510 - - -

Guaranteed Investment
Contracts 2,398

- - - 2,398
$ 1,254,736 571,542 271,956 408,840 2,398

Fiduciary activities:

Remaining Maturity
(in months)
as of June 30, 2025
Total 12 months or less

State Investment Pool $ 820 820
CA Asset Management Program 6,277 6,277
Money Market Mutual Funds 30,551 30,551
$ 37,648 37,648

Credit Risks

Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. The City purchases investments only in the most risk-adverse instruments, such as Aaa rated government securities, Aaa, Aa or A-rated corporate securities, A1, P1, F1 rated commercial paper, negotiable certificates of deposit, and banker’s acceptance securities. Investments in State of California and California Local Agencies must be rated “A” or better by a nationally recognized rating service. The City’s Investment Policy requires the City to sell medium-term notes with a credit rating below S&P’s and Fitch’s BBB grade or Moody’s Baa2 unless the City Council approves the City Treasurer’s recommendation that security should be retained.

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Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Governmental and business-type activities:

Moody’s Rating as of June 30, 2025
Total A1 Aa1 Aa2 Aa3 Aaa Unrated
Medium Term Notes $ 202,176 3,068 5,149 35,135 18,730 140,094 - Federal Agency Callable Bonds 243,400 - - - - 233,756 9,644 Federal Agency Term Notes 143,834 - - - - 133,666 10,168 State Investment Pool 111,240 - - - - - 111,240
CA Asset Management Program 166,547 - - - - - 166,547 Los Angeles County Pool 5,162 - - - - - 5,162
Obligations of Other States 77,988 - 33,680 20,924 - 18,578 4,806 State and Municipal Bonds 86,646 - 12,551 57,047 3,696 8,502 4,850 U.S. Treasury Notes 112,142 - - - - 112,142 -
Investment Derivative Instrument 7,023 - - - - - 7,023 Held by Other Financial Institutions:

Federal Agency Term Notes 6,498 - 6,498 - - - -
U.S. Treasury Notes 986 - - - - - 986
Money Market Accounts 1,915 - - - - - 1,915
Section 115 Trust Fund:

Money Market Accounts 1,003 - - - - - 1,003
Money Market Mutual Funds 44,268 - - - - - 44,268
Held by Fiscal Agents:

Money Market Accounts 41,510 - - - - - 41,510
Guaranteed Investment Contracts 2,398 - - - - - 2,398 $
1,254,736 3,068 57,878 113,106 22,426 646,738 411,520

Fiduciary activities:

Moody’s Rating
as of June 30, 2025
Total Aaa Unrated

State Investment Pool $ 820 - 820
CA Asset Management Program 6,277 - 6,277
Money Market Mutual Funds 30,551 18,793 11,758
$ 37,648 18,793 18,885

Concentration of Credit Risk
Concentration of credit risk is the risk of loss attributed to the magnitude of the City’s investment in a single issuer.

The investment policy of the City contains no limitations on the amount that can be invested in any one issuer beyond that stated in the Authorized Investments.

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CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Investments in any one issuer (other than U.S. Treasury notes, mutual funds, and external investment pools) that represent 5% or more of total City investments at June 30, 2025 are as follows:

Governmental and business-type activities:

Issuer

Investment Type
Reported
Amount

FHLB Federal Agency Callable Bonds $ 243,400
Federal Agency Term Notes 123,890
Total $ 367,290

Custodial Credit Risk
Custodial credit risk for deposits is the risk that in the event of the failure of a depository financial institution, a government agency will not be able to recover its deposits or will not be able to recover investment securities that are in possession of an outside party. All depositor’s accounts at an insured depository institution, including non-interest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount of $250 for each deposit insurance ownership category. The amounts of deposits are collateralized under California law. The Code requires that a financial institution secures deposits made by state or local governmental units by pledging securities in an undivided collateral pool held by a depository regulated under state law unless waived by the governmental unit.

The custodial risk for investments is also twofold. An investment trade transaction occurs between a government agency and counterparty, such as a broker or a dealer. Counterparty risk is the risk that in the event of the failure of a brokerage or dealer to deliver securities after government agency has made payment. The City of Glendale prevents counterparty risk by requiring all trade transactions to be made on a delivery versus payment arrangement.

A government agency uses an independent third-party custodian or safe keeper to domicile the securities in its portfolio. The City of Glendale uses Bank of America as its third-party safekeeping servicer and prevents custodial or safekeeping risk by having all securities purchased and owned by the City of Glendale registered in the name of the City, separated from other client securities portfolios, and segregated from securities owned by the bank.

Investment in State Investment Pool

The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The City’s investment in this pool is reported in the accompanying financial statements at fair value based upon the City’s pro-rata share of the amortized cost basis provided by LAIF for the entire LAIF portfolio, in relation to the amortized cost of that portfolio. The balance available for withdrawal is based on the accounting records maintained by LAIF.

LAIF is not registered with the Securities and Exchange Commission (SEC) and is not rated.

California Asset Management Program

The City is a voluntary participant in the California Asset Management Program (CAMP) which is a permitted investment for all local agencies under California Government Code Section 53601. The City’s investment in CAMP pool operates in a manner consistent with SEC Rule 2a-7, “Money Market Funds,” of that Act. Accordingly, CAMP pool meets the definition of a “2a-7 like pool” set forth in GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools . CAMP is not registered with the Securities and Exchange Commission (SEC) and is not rated.

Investment in Los Angeles County Pool

The City is a voluntary participant in the Los Angeles County Pooled Investment Fund (LACPIF) that is regulated by California Government Code Section 27136 and managed by the Los Angeles County Treasurer. The City’s

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CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

investment in this Pool is reported in the accompanying financial statements of net position and prepared using the accrual basis of accounting. Investments are reported at fair value. The cash flow needs of the participants are monitored daily to ensure that sufficient liquidity is maintained to meet the needs of participants. The balance available for withdrawal is based on the accounting records maintained by LACPIF. LACPIF is not registered with the Securities and Exchange Commission (SEC) and is not rated.

Investment in Internal Revenue Code Section 115 Trust Fund

The City reviewed the City’s obligation to fund the pension obligations and determined that it served the City’s interests to prefund those benefits. In July 2017, the City Council approved and adopted the funding for a Pension Rate Stabilization Program IRC Section 115 Trust for $26,500. In December 2019, the City Council approved and adopted an additional funding of $5,500 into the Pension Rate Stabilization Program Trust Fund account held at U.S.

Bank. In May 2021, the City combined the initial and additional funding in the same account with moderate allocation investment strategy. The Pension Stabilization Trust is a tax-qualified irrevocable trust, organized under Internal Revenue Code (IRC) Section 115, established to pre-fund pension obligations. The Plan Discretionary Trustee is U.S. Bank and U.S. Bank has delegated investment management responsibilities to High Mark Capital Management, and Public Agencies Retirement Services (PARS) is the Trust Administrator. As of June 30, 2025, the City elected the Moderate investment approach with a blended investment objective strategy and the asset target allocations for this objective were 5% cash source, 50% equity and 45% fixed income.

The City’s Section 115 trust fund account is reported as restricted assets and fund balance in the General Fund. The value of the trust as of June 30, 2025, was $45,270 of which all was placed in cash, money market and money market mutual fund accounts.

Fair Value Measurement

The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described as follows:

Level 1 – Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the City can access.

Level 2 – Inputs to the valuation methodology include:

• Quoted prices for similar assets or liabilities in active markets; • Quoted prices for identical or similar assets or liabilities in inactive markets; • Inputs other than quoted prices that are observable for the asset or liability; • Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

Unobservable inputs reflect the City’s own assumptions about the inputs market participants would use in pricing the asset or liability (including assumptions about risk). Unobservable inputs are developed based on the best information available in the circumstances and may include the City's own data.

The asset's level within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The determination of what constitutes observable requires judgment by the City's management.

City management considers observable data to be that market data, which is readily available, regularly distributed or updated, reliable, and verifiable, not proprietary, and provided by multiple independent sources that are actively involved in the relevant market. The categorization of an investment within the hierarchy is based upon the relative

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Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

observability of the inputs to its fair value measurement and does not necessarily correspond to City management's perceived risk of that investment.

In instances where inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The City’s assessment of the significance of inputs to these fair value measurements requires judgment and considers factors specific to each asset or liability.

Deposits and withdrawals in governmental investment pools, such as LAIF, CAMP and LACPIF are made based on $1 and not fair value. Accordingly, the City’s proportionate share in these types of investments is an uncategorized input not defined as a Level 1, Level 2, or Level 3 input.

The following is a description of the valuation methods and assumptions used by the City to estimate the fair value of its investments. There have been no changes in the methods and assumptions used as of June 30, 2025. The methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. City management believes its valuation methods are appropriate and consistent with other market participants. The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The City’s treasury pools asset market prices are derived from closing bid prices as of the last business day of the month as supplied by Interactive Data, Bloomberg or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimated fair value.

Prices that fall between data points are interpolated. Non-negotiable FDIC-insured bank certificates of deposit are priced at par.

For investments classified within Level 2 of the fair value hierarchy, the City's custodians generally use a multi- dimensional relational model. Inputs to their pricing models are based on observable market inputs in active markets.

The inputs to the pricing models are typically benchmark yields, reported trades, broker-dealer quotes, issuer spreads and benchmark securities, among others.

The City does not have any investments that are measured using Level 1 and Level 3 inputs.

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CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

As of June 30, 2025, the City has the following fair value measurements:

Governmental and business-type activities:

Fair Value Measurements
Total
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Investments by fair value level:

Medium Term Notes $ 202,176 - 202,176 -
Federal Agency Callable Bonds 243,400 - 243,400 -
Federal Agency Term Notes 143,834 - 143,834 -
Obligations of Other States 77,988 - 77,988 -
State and Municipal Bonds 86,646 - 86,646 -
U.S. Treasury Notes 112,142 - 112,142 -
Investment Derivative Instrument 7,023 - 7,023 -
Held by Other Financial Institutions:

Federal Agency Term Notes 6,498 - 6,498 -
U.S Treasury Notes 986 - 986 -
Section 115 Trust Fund:

Money Market Mutual Funds 44,268 - 44,268 -
Total investments by fair value level 924,961 - 924,961 -

Investments not subject to fair value
hierarchy:

Los Angeles County Pool 5,162
State Investment Pool 111,240
CA Asset Management Program 166,547
Held by Other Financial Institutions:

Money Market Accounts 1,915
Section 115 Trust Fund:

Money Market Accounts 1,003
Held by Fiscal Agents:

Money Market Accounts 41,510
Guaranteed Investment Contracts 2,398

Total investments not subject to fair
value hierarchy 329,775

$ 1,254,736

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CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Fiduciary activities:

Fair Value Measurements
Total
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)
Investments by fair value level:

Money Market Mutual Funds $ 30,551 - 30,551 -
Total investments by fair value level 30,551 - 30,551 -

Investments not subject to fair value
hierarchy:

State Investment Pool 820

CA Asset Management Program 6,277

Total investments not subject to
fair value hierarchy 7,097

$ 37,648

NOTE 4 – LOANS RECEIVABLE

Housing Loans Receivable

The Housing Authority has offered various housing loans to the residents of the City to create and maintain affordable housing for low and moderate income households. Four different types of housing loans are currently or were formerly funded from various Community Development Block Grant (CDBG grant), HOME grant, Low and Moderate Income Housing Asset (LMIHA), Building Equity and Growth in Neighborhoods Grant (BEGIN grant), 2011 TABs Housing, Permanent Local Housing Allocation, and Capital improvement funds. Certain Housing Authority loans will be forgiven or restructured when all requirements are met. Because of the uncertainty of collectability, the City has established a policy not to record forgivable loans on the financial statements. The non-forgivable loans are recorded on the financial statements.

• Single Family Home Rehabilitation Loan

The program was funded by the CDBG grant, HOME grant, and LMIHA. It provided funds for moderate rehabilitation of owner-occupied homes for low and moderate income households. The deferred payment loan is interest-bearing with simple interest rates ranging from 0% to 4% annually for up to 10 years, and with a loan amount up to $25. Generally, the loan is repaid at the time of sale or transfer of the property and is secured by a deed of trust on the property. This program was eliminated in February 2012; however, there are existing loans receivable. As of June 30, 2025, $1,041 is outstanding and recorded as loans receivable: $97 is recorded in the CDBG Fund, $172 is recorded in the Home Grant Fund, and $772 is recorded in the Low & Moderate Income Housing Asset Fund.

• First Time Home Buyer Loan

The program is funded by the HOME grant, LMIHA, and BEGIN grant, and has two categories.

Down Payment Assistance – Resale Homes Purchase. The program provided funds for down payment and affordability gap assistance for the purchase of a resale home by a low or moderate income first time home buyer household. Loan terms varied from 30 to 45 years and required either a 5% simple annual interest rate paid monthly, or a 0% simple annual interest rate with no monthly payments. All loans are second mortgage deferred payment and forgivable up to $75. If the property is sold, transferred, or no longer owner-occupied before the term

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Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

expires, the borrower must repay the original principal amount plus an appreciation share. This program was eliminated in February 2012; however, there are existing loans receivable. As of June 30, 2025, the forgivable loan amount of $2,525 is outstanding, and is not recorded in the financial statements. As of June 30, 2025, the non-forgivable amount is $0.

Down Payment Assistance – New Construction Homes Purchase. For new construction units, the amount of the loan is based on the amount of the affordability gap. The loan is secured by a deed of trust on the property and affordable housing covenants. Loans fall into two types. One type is the deferred payment forgivable loan with a loan term of 30 to 45 years; the loan is forgiven at the end of the loan term. If the property is sold, transferred, or no longer owner-occupied before the term expires, the borrower must repay the original principal amount plus an appreciation share. A small set of loans funded through the American Dream Down Payment Assistance Program are forgiven at a set percentage of the principal amount each year. A second type of loan is a deferred payment loan with resale restrictions. This includes the most recent HOME funded loans that are subject to resale restrictions and must be resold to low-income home buyers if sold before the end of the term. As of June 30, 2025, the forgivable loan amount at the end of the term is $12,525 and is not recorded on the financial statements. The Doran Gardens project loans funded through the BEGIN grant are deferred loans and are to be repaid at the end of the 30-year term. As of June 30, 2025, the non-forgivable amount is $5,796 and is recorded as loans receivable in the BEGIN Affordable Homeownership Fund.

• New Construction and Acquisition/Rehabilitation Rental Development Loan

The program is funded by the HOME grant, LMIHA, State of California’s Permanent Local Housing Allocation Fund, and Capital Improvement Fund, and provides funds for new construction, acquisition or rehabilitation of affordable rental housing. Loan terms and loan underwriting requirements are negotiated with the developer on a project-by-project basis. The loan is secured by a deed of trust and affordable housing covenants on the property.

Loans provide gap assistance to make housing units affordable to low and moderate income households, and units must be rented at an affordable rent. Leveraging of funds with other sources and contribution of developer equity is required. Loans may be second mortgage deferred payment loans, which require loan principal plus interest to be repaid at the end of the loan term, and residual receipt payments are required on some deferred loans. Also, loans may be permanent financing first mortgage loans at below-market interest rates, and monthly amortized payments are required. Such loans would be provided when credit conditions or loan costs are not feasible for the project. As of June 30, 2025, the forgivable loan amount at the end of the term is $3,818 and is not recorded on the financial statements. As of June 30, 2025, there are non-forgiven (no recourse) loans, these types of agreements are very long term (55 years+). There are no loan amortization schedules because the loan will only be paid back if there is enough residue receipt. Therefore, the loan agreement has a no recourse term, and the loan collectability is uncertain. As of June 30, 2025, the non-forgivable (no recourse) amount is $186,076 and is recorded as loans receivable and as allowance for uncollectible. Accordingly, the net loans receivable is zero.

NOTE 5 – INTERFUND TRANSACTIONS
The composition of interfund balances consists of due to/from other funds, advances to/from other funds, and transfers. Due to/from other funds are temporary cash overdrafts between funds. Advances to/from other funds represent an interfund loan extending beyond one year and some advances are formal lending agreements between funds.

Due to/from other funds as of June 30, 2025 consist of the following:

Due to General Fund from:

Nonmajor governmental funds $ 8,492

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CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

The City reports transfers between many of its funds. The sum of all transfers presented in the following table agrees with the sum of interfund transfers presented in the government-wide, governmental and proprietary fund financial statements. Transfers are used to (1) subsidize the activities of other funds and (2) move revenues from the fund that budget requires to collect them to the fund that budget requires to expend them.

Amount Purpose
Transfers to General Fund from:

Electric Fund $ 29,615 Fund General Fund operations per Charter Parking Fund 3,451 Closing Parking Fund to General Fund 33,066

Transfer to Capital Improvement Fund from:

General Fund 11,058 Fund capital improvement projects Parking Fund 3,735
Closing Parking Fund to Capital
Improvement Fund
14,793
Transfers to nonmajor governmental funds from:

General Fund 1,633
Fund Nutritional Meals Grant matching and
debt service payments
Transfers to internal service funds from:

General Fund 2,050
Fund Fleet Management Fund and
Building Maintenance Fund

Total Interfund Transfers $ 51,542

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Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

NOTE 6 – CAPITAL ASSETS

Capital asset for Governmental activities for the year ended June 30, 2025 was as follows:

Balance at
July 1 Increases Decreases Reclass
Balance at
June 30*
Capital assets, not being depreciated:

Land $ 459,195 - - - 459,195
Construction in progress 64,227 17,405 (752) (44,061) 36,819 Total assets not being depreciated 523,422 17,405 (752) (44,061) 496,014

Depreciable and amortizable capital
assets:

Building and improvements 474,393 16,148 (510) 16,415 506,446 Machinery and equipment 141,029 16,034 (8,717) 432 148,778 Infrastructure 385,865 9,633 - 27,214 422,712
Intangible 8,811 86 - - 8,897
Right-to-use lease asset 3,271 1,922 - - 5,193
Subscription assets 11,049 2,556 (1,324) - 12,281
Total other capital assets at cost 1,024,418 46,379 (10,551) 44,061 1,104,307

Less accumulated depreciation and
amortization:

Building and improvements 238,645 12,158 (26) - 250,777 Machinery and equipment 101,587 8,208 (8,489) - 101,306 Infrastructure 164,592 10,503 - - 175,095
Intangible 4,277 912 - - 5,189
Right-to-use lease asset 1,241 1,109 - - 2,350
Subscription assets 5,326 3,528 (1,303) - 7,551

Total accumulated depreciation and
amortization 515,668 36,418 (9,818) - 542,268

Total assets being depreciated and
amortized, net 508,750 9,961 (733) 44,061 562,039
Governmental activities capital assets, net $ 1,032,172 27,366 (1,485) - 1,058,053

*$106,607 of buildings, improvements, machinery, equipment, construction in progress, intangible assets, lease, and subscription from internal service funds are included in governmental activities. $67,200 of accumulated depreciation and amortization from internal service funds are included in governmental activities.

Depreciation and amortization expense was charged to functions of the City’s governmental activities for the year ended June 30, 2025 as follows:

General Government $
5,030
Police 4,412
Fire 769
Public Works 17,418
Parks, Recreation and Community Services 3,735
Library 1,636
Transportation 1,941
Housing, Health and Community Development 802
Employment Programs 675
Total depreciation and amortization expense $ 36,418

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CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Capital asset for Business-type activities for the year ended June 30, 2025 was as follows:

Balance
at July 1 Increases Decreases Reclass
Balance at
June 30
Capital assets, not being depreciated:

Land $ 9,557 - - - 9,557
Construction in progress 169,246 260,270 (81) (6,876) 422,559 SBITA in progress - 91 - - 91
Right-to-use lease asset - land 272 - (158) - 114
Total assets not being depreciated 179,075 260,361 (239) (6,876) 432,321

Depreciable, depletable, and
amortizable capital assets:

Building and improvements 315,416 418 - 5,303 321,137 Machinery and equipment 529,396 17,020 (11,724) 905 535,597 Infrastructure 183,970 295 - 668 184,933
Natural gas reserve 22,176 2 - - 22,178
Intangible 120,934 1,618 - - 122,552
Subscription assets 757 236 (123) - 870
Total other capital assets at cost 1,172,649 19,589 (11,847) 6,876 1,187,267

Less accumulated depreciation,
depletion, and amortization:

Building and improvements 136,746 5,680 - - 142,426
Machinery and equipment 370,775 20,813 (10,755) - 380,833 Infrastructure 77,716 3,760 - - 81,476
Natural gas reserve 15,811 550 - - 16,361
Intangible 67,556 3,171 - - 70,727
Subscription assets 244 284 (123) - 405
Total accumulated depreciation,
depletion and amortization 668,848 34,258 (10,878) - 692,228

Total assets being depreciated,
depleted, and amortized, net 503,801 (14,669) (969) 6,876 495,039

Business-type activities capital assets, net $ 682,876 245,692 (1,208) - 927,360

Depreciation, depletion, and amortization expense was charged to functions of the City’s Business-type activities for the year ended June 30, 2025 as follows:

Sewer $ 6,794
Electric 16,991
Water 7,376
Refuse Disposal 2,476
Verdugo Fire Communication 621
Total depreciation, depletion, and amortization expense $ 34,258

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Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

NOTE 7 – LONG-TERM DEBT

The City’s long-term debt as of June 30, 2025 consists of the following:

Bonds payable

Governmental activities:

Issuance
Amount
Balance
at July 1 Additions Retirements
Balance
at
June 30
Due
within
one year
Lease revenue refunding bonds
GMFA 2019 lease revenue refunding bonds $ 24,925 15,180 - 2,230 12,950 2,345 GMFA 2019 lease revenue bonds premium - 2,865 - 484 2,381 484 Total Governmental activities $ 24,925 18,045 - 2,714 15,331 2,829

The City has outstanding long-term bonded debt for governmental activities of $15,331 of which has no direct borrowing and no direct placements related to governmental activities as of June 30, 2025. The City also has no outstanding or unused line of credit related to long-term debt of governmental activities as of June 30, 2025. The governmental activities bonds payable contain a provision that Glendale Municipal Financing Authority will not pledge to collateral any assets owned by the City, but the Lease Agreement permits the Glendale Municipal Financing Authority and its Trustee to take possession of and re-lease the Police Building in the event of a default by the City.

The governmental activities bonds payable have no remedy of acceleration of any lease payments which have not come due and payable in accordance with the Lease Agreement. The governmental activities bonds payable contain an event of default that changes the timing of repayment of outstanding principal and interest to become immediately due if the City is unable to make payment.

Glendale Municipal Financing Authority (GMFA) 2019 Lease Revenue Refunding Bonds

The GMFA 2019 Lease Revenue Refunding Bonds were issued pursuant to a resolution adopted by the City Council and Joint Exercise of Powers Agreement with the Glendale Housing Authority to establish the Glendale Municipal Financing Authority on April 9, 2019, and a resolution adopted by the City Council authorizing GMFA to issue bonds to refinance the City’s 2000 Variable Rate Certificates of Participation on April 16, 2019.

The Glendale Municipal Financing Authority issued $24,925 in lease revenue bonds on June 25, 2019, to refinance the existing lease relating to the City’s outstanding Variable Rate Demand Certificates of Participation (2000 Police Building Project). The bond proceeds were deposited in an escrow account and were used to refund and redeem all the outstanding COPs on June 25, 2019, at a redemption price equal to 100% of the principal amount plus accrued interest up to the redemption date. There was no difference between the reacquisition price of the refunding bonds and the net carrying amount of the refunded bonds. The refunding also resulted in cash flow savings of $3,710 which is the difference between the cash flow required to service the old COPs and the cash flows required to service the new 2019 bonds.

The GMFA does not require the trustee to establish and maintain a reserve fund for the bonds. Interest rates are

5.00% and paid semiannually on December 1 and June 1. Principal payments are made annually on June 1. The bonds will mature in regularly increasing amounts ranging from $2,345 to $2,850 annually from FY 2025-26 to FY 2029-30. Outstanding principal balance at June 30, 2025 was $12,950.

The bonds are not subject to optional redemption prior to their respective stated maturities.

The bonds are payable and secured from the revenues pledged under the Indenture of Trust, dated June 1, 2019.

Pursuant to a Site Lease, dated June 1, 2019, by and between the GMFA and the City, the City has leased the Police building to GMFA. GMFA has subleased the Police building back to the City under the Lease Agreement, dated June 1, 2019, by and between the City and GMFA. The revenues consist primarily of lease payments to be made by the City under the terms of the Lease Agreement. The annual lease payments from the City are to be made

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Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

at a rate sufficient to meet the debt service requirements of the outstanding bond indebtedness on the leased property.

Business-type activities:

Issuance
Amount
Balance
at July 1 Additions Retirements
Balance
at
June 30
Due
within
one year
Revenue bonds
Electric revenue bonds, 2016 refunding series 72,615 50,810 - 3,760 47,050 3,945 Electric revenue bonds, 2024 refunding series 52,580 52,580 - 2,820 49,760 2,710 Electric revenue bonds, 2024 series 166,890 166,890 - 2,330 164,560 2,640 Electric revenue bonds, 2024 second series 166,685 - 166,685 1,205 165,480 2,655 Electric revenue bonds premium - 41,745 21,177 2,648 60,274 2,708 Water revenue bonds, 2012 series 35,000 31,415 - 650 30,765 695 Water revenue bonds, 2020 refunding series 36,625 30,000 - 1,765 28,235 1,790 Water revenue bonds premium - 3,083 - 222 2,861 220
Total Business-type activities

$ 530,395 376,523 187,862 15,400 548,985 17,363

The City has outstanding long-term bonded-debt for business-type activities of $548,985, has no direct borrowings, and no direct placements related to business-type activities as of June 30, 2025. The City also has no outstanding or unused line of credit related to long-term debt of business-type activities as of June 30, 2025. The business-type activities bonds payable contain a provision that none of the electric utility and water utility assets owned by the City will be sold or leased if the City is unable to satisfy the debt service requirement. The business-type activities bonds payable contain a provision that, in an event of default, the owners of 25% in aggregate Bond Obligations of Bonds then outstanding, may call a meeting of the bond owners for the purpose of electing a bond owners’ committee. The business-type activities bonds payable contain a subjective acceleration clause that allows the bond owners’ committee to accelerate payment of the entire principal and interest amounts to become immediately due in an event of default by the City.

Enterprise Fund – Electric utility

The Electric utility has pledged future electric customer revenues, net of specified operating expenses, to pay the remaining total principal and interest on the Electric revenue bonds of $767,920 through FY 2053-54. The bonds are payable solely from Electric utility’s net income and are expected to require the net income to be at least equal to

1.10 times the amount of the annual debt services as they become due each fiscal year. The rates to be charged for services furnished by the Electric utility should incorporate the debt service requirements to provide revenues sufficient to pay, as the principal and interest become due. The Electric revenue bonds are secured with amounts on deposit in account established under the indenture, including the reserve account. As of June 30, 2025, the parity reserve fund has a balance of $17,297 held by the Trustee. Total debt service paid and total net available revenues for debt service coverage for FY 2024-25 were $26,642 and $124,581, respectively.

Electric Revenue Bonds, 2016 Refunding Series

The Electric utility of Glendale Water & Power issued $72,615 in revenue bonds in May 2016 to provide money for the refunding of all of the City’s outstanding Electric Revenue Bonds, 2006 Refunding Series (2006 Bonds), a portion of the City’s outstanding Electric Revenue Bonds, 2008 Series (2008 Bonds), to finance the costs of acquisition and construction of certain improvements to the City’s electric public utility and paying the costs of issuance of the 2016 Bonds. The bond proceeds were deposited in an escrow account and were used to refund the Electric Revenue Bonds, 2006 Refunding Series and a portion of the outstanding Electric Revenue Bonds, 2008 Series through legal defeasance. The 2006 Bonds and 2008 Bonds were redeemed on June 3, 2016 and February 1, 2018, respectively both at a redemption price of 100% of the principal amount thereof plus accrued interest thereon to the redemption date. Both 2006 Bonds and 2008 Bonds are no longer considered outstanding.

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CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

The refunding resulted in the recognition of a deferred loss on refunding of $2,865 as of June 30, 2025, and is being amortized through FY 2037-38. The refunding also resulted in cash flow savings of $13,026 which is the difference between the cash flows required from the prior debt service and the cash flows required for the new refunding debt service.

Interest rates are 5.00% and paid semiannually on August 1 and February 1. Principal payments are made annually on February 1. The 2016 Refunding Bonds will mature in amounts ranging from $3,945 to $4,715 annually from FY 2025-26 to FY 2037-38. Outstanding principal balance at June 30, 2025 was $47,050.

The 2016 Refunding Bonds maturing on or prior to February 1, 2026 are not subject to redemption prior to maturity.

The City may, at its discretion, redeem the 2016 Refunding Bonds that mature on and after February 1, 2027.

Optional redemption may be for all or part of the bonds, on or after February 1, 2026. The City will direct the specific order of maturity for redemption in writing, with bonds selected by lot within each maturity.

Electric Revenue Bonds, 2024 Refunding Series

The Electric utility of Glendale Water & Power issued $52,580 in revenue bonds in February 2024 to provide money for the refunding of all the City’s outstanding Electric Revenue Bonds, 2013 Refunding Series, and all of the City’s outstanding Electric Revenue Bonds, 2013 Series. The bond proceeds were deposited in an escrow account and were used to refund the Electric Revenue Bonds, 2013 Refunding Series and the Electric Revenue Bonds, 2013 Series through a legal defeasance. The 2013 Refunding Bonds and 2013 Bonds were redeemed on May 28, 2024 at a redemption price of 100% of the principal amount thereof plus accrued interest thereon to the redemption date.

Both 2013 Refunding Bonds and 2013 Bonds are no longer considered outstanding.

The refunding resulted in the recognition of a deferred gain on refunding of $4,049 as of June 30, 2025, and is being amortized through FY 2042-43. The refunding also resulted in cash flow savings of $12,529 which is the difference between the cash flows required from the prior debt service and the cash flows required for the new refunding debt service.

Interest rates are 5.00% and paid semiannually on August 1 and February 1. Principal payments are made annually on February 1. The 2024 Refunding Bonds will mature in amounts ranging from $2,710 to $3,655 annually from FY 2025-26 to FY 2042-43. Outstanding principal balance at June 30, 2025 was $49,760.

The 2024 Refunding Bonds maturing on or prior to February 1, 2034 are not subject to redemption prior to maturity.

At the City's discretion, all or part of the 2024 Refunding Bonds that mature on or after February 1, 2035, can be called for early redemption. This can happen on or after February 1, 2034, with the specific order of maturity and selection by lot determined in writing by the City.

Electric Revenue Bonds, 2024 Series

The Electric utility of Glendale Water & Power issued $166,890 in revenue bonds in February 2024 to provide money for fundings for the Grayson Repowering project and Scholl Canyon Landfill Biogas Renewal Generation Project and other Electric System improvements, making a deposit to the Parity Reserve Fund under the Indenture of Trust, and paying the cost of issuance.

Interest rates are 5.00% and paid semiannually on August 1 and February 1. Principal payments are made annually on February 1. The 2024 Bonds will mature in amounts ranging from $2,640 to $10,350 annually from FY 2025-26 to FY 2053-54. Outstanding principal balance at June 30, 2025 was $164,560.

The 2024 Bonds maturing on or prior to February 1, 2034 are not subject to redemption prior to maturity. The City may call certain 2024 Series Bonds early, starting February 1, 2034. These are the bonds that are scheduled to mature on or after February 1, 2035. The City can redeem all or some of these bonds at its discretion.

75 277 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Electric Revenue Bonds, 2024 Second Series

The Electric utility of Glendale Water & Power issued $166,685 in revenue bonds in August 2024 to provide money for funding the further development and construction of the Grayson Repowering project and Scholl Canyon Landfill Biogas Renewal Generation Project and other Electric System improvements, making a deposit to the Parity Reserve Fund under the Indenture of Trust, and paying the cost of issuance.

Interest rates are 5.00% and paid semiannually on August 1 and February 1. Principal payments are made annually on February 1. The 2024 Second Series Bonds will mature in amounts ranging from $2,655 to $10,410 annually from FY 2025-26 to FY 2053-54. Outstanding principal balance at June 30, 2025 was $165,480.

The 2024 Second Series Bonds maturing on or prior to February 1, 2034 are not subject to redemption prior to maturity. The City may call certain 2024 Second Series Bonds early, starting February 1, 2034. These are the bonds that are scheduled to mature on or after February 1, 2035. The City can redeem all or some of these bonds at its discretion.

Enterprise Fund – Water utility

The Water utility has pledged future water customer revenues, net of specified operating expenses, to pay the remaining total principal and interest on the Water revenue bonds of $77,147 through FY 2041-42. The bonds are payable solely from Water utility’s net revenues and are expected to require the net revenues to be at least equal to

1.25 times the amount of the annual debt services as they become due each fiscal year. The rates to be charged for services furnished by the Water utility should incorporate the debt service requirements to provide revenues sufficient to pay, as the principal and interest become due. The Water revenue bonds are secured with amounts on deposit in account established under the indenture, including the reserve account. As of June 30, 2025, the parity reserve fund has a balance of $3,965 held by the Trustee. Total debt service paid and total net available revenues for debt service coverage for FY 2024-25 were $4,268 and $8,994, respectively.

Water Revenue Bonds, 2012 Series

The Water utility of Glendale Water & Power issued $35,000 in revenue bonds in December 2012 to finance the costs of certain improvements to the City’s water public utility including construction and development of Rockhaven Well, construction of a new energy and asset management system, Supervisory Control and Data Administration (SCADA), Glorietta Well improvements and pump station and water quality improvements, make a deposit to the Parity Reserve Fund and pay the cost of issuance.

Interest rates range from 2.75% to 5.00% and paid semiannually on August 1 and February 1. Principal payments are made annually on February 1. The 2012 Bonds will mature in regularly increasing amounts ranging from $695 to $4,945 annually from FY 2025-26 to FY 2041-42. Outstanding principal balance as of June 30, 2025 was $30,765.

The 2012 Bonds have an optional redemption on and after February 1, 2023. The 2012 Bonds maturing on February 1, 2042 are subject to mandatory sinking fund redemption from mandatory sinking account payments set aside in the Parity Obligation Payment Fund.

Water Revenue Bonds, 2020 Refunding Series

The Water utility of Glendale Water & Power issued $36,625 in revenue bonds in August 2020 to provide money for refunding the City’s outstanding Water Revenue Bonds, 2008 Series (2008 Bonds), making a deposit to the Parity Reserve Fund, and paying the costs of issuance of the 2020 Bonds. The bond proceeds were deposited in an escrow account and were used to refund the 2008 Bonds. The 2008 Bonds was redeemed on September 5, 2020 at a redemption price of 100% of the principal amount plus accrued and unpaid interest to such redemption date. The 2008 Bonds is no longer considered outstanding.

The refunding resulted in the recognition of a deferred gain on refunding of $687 as of June 30, 2025, and is being amortized through FY 2037-38. The refunding also resulted in cash flow savings of $12,031 which is the difference

76 278 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

between the cash flows required from the prior debt service and the cash flows required for the new refunding debt service.

Interest rates range from 2.00% to 4.00% and paid semiannually on August 1 and February 1. Principal payments are made annually on February 1. The 2020 Refunding Bonds will mature in regularly increasing amounts ranging from $1,790 to $2,475 annually from FY 2025-26 to FY 2037-38. Outstanding principal balance at June 30, 2025 was $28,235.

The 2020 Refunding Bonds maturing on or prior to February 1, 2030 are not subject to redemption prior to maturity.

The City has the option to call for redemption, in whole or in part, the 2020 Refunding Bonds that mature on or after February 1, 2031. This optional redemption may occur on August 1, 2030, or any date thereafter, with bonds selected in any order of maturity and by lot within maturity.

Fiduciary activities:

Issuance
Amount
Balance
at July 1 Additions Retirements
Balance
at
June 30
Due
within
one year

Tax allocation bonds
2016 GSA tax allocation bonds refunding $ 20,810 7,210 - 7,210 - - GSA tax allocation bonds premium - 187 - 187 - -
Total Fiduciary activities $ 20,810 7,397 - 7,397 - -

The Successor Agency has outstanding long-term debt of $0, and no direct placements related to fiduciary activities as of June 30, 2025. The Successor Agency also has no outstanding or unused line of credit related to long-term debt of fiduciary activities as of June 30, 2025. The fiduciary activities bonds payable did not contain a provision to pledge as collateral for debt any assets or properties owned by the Successor Agency in the event of default by the Successor Agency. The fiduciary activities bonds payable contain a provision that in an event of default, the majority owners in aggregate principal amount of the Bonds at the time outstanding can accelerate payment of the entire principal and interest amounts to become immediately due if the Successor Agency is unable to make payment, with the exception of Subordinate Tax Allocation Bonds, 2016 Refunding Series that have bond insurance with Build America Mutual Assurance Company, these bond insurers may elect at its sole discretion to pay the accelerated principal and interest payments to the extent unpaid by the Successor Agency.

The fiduciary activities bonds payable contain a provision to comply with the requirements of the Redevelopment Law and shall take all actions required to prepare and file the Recognized Obligation Payment Schedules in order for the Los Angeles County Auditor-Controller to distribute from the Redevelopment Property Tax Trust Fund to Redevelopment Obligation Retirement Fund all amounts required to enable the Successor Agency to pay timely principal and interest on the 2016 Bonds when due including any amounts due to Bond insurers in respect of the Bond Insurance Policy. Total debt service paid and total net available revenues for debt service coverage for FY 2024-25 were $7,390 and $38,462, respectively.

Subordinate Tax Allocation Bonds, 2016 Refunding Series

The Glendale Successor Agency (the “GSA”) issued $20,810 in 2016 tax allocation refunding bonds with an average rate of 1.74% to refinance the former Glendale Redevelopment Agency’s (the “Agency”) outstanding Central Glendale Redevelopment Project Tax Allocation Bonds, 2010 Series. The advance refunding of Tax Allocation Bonds, 2010 Series resulted in a difference between the reacquisition price of refunding bonds and the net carrying amount of the refunded bonds. The deferred loss on refunding for $0 is recognized and fully amortized as of June 30, 2025. The refunding also resulted in cash flow savings of $5,231 which is the difference between the cash flows required to service the prior debt service and the cash flows required to service the new 2016 refunding bonds.

The refunding of the 2010 Tax Allocation Bonds was approved by the Oversight Board and the DOF, to provide savings until the Refunding Bonds are repaid. The property tax derived from the former Agency’s Central Project

77 279 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Area is pledged to repay these Bonds until they are paid in full. The funds are distributed by the County of Los Angeles semi-annually through the ROPS process, subject to approval by the Successor Agency’s Oversight Board and the DOF. As of June 30, 2025, the principal balance was fully paid and matured on December 1, 2024.

Leases payable

Balance
at July 1 Additions

Retirements

Balance
at
June 30
Due
within one
year
Governmental activities $ 2,094 1,922 1,530 2,486 936 Business-type activities 110 - 7 103 4
Total Leases payable $ 2,204 1,922 1,537 2,589 940

Governmental activities:

The City has 5 outstanding leases payable of building and equipment for governmental activities of $2,486 as of June 30, 2025. The incremental borrowing rates range from 0.54% to 3.02%. The annual principal and interest payments range from $976 to $204 from FY 2025-26 to FY 2033-34.

Business-type activities:

The City has 1 outstanding lease of land for business-type activities of $103 as of June 30, 2025. The incremental borrowing rate is 1.47%. The annual principal and interest payments range from $6 to $53 from FY 2025-26 to FY 2040-41.

Subscriptions payable

Balance
at July 1 Additions Retirements
Balance
at
June 30
Due
within one
year
Governmental activities $ 3,100 2,203 3,225 2,078 1,312 Business-type activities 437 - 104 333 110
Total Subscriptions payable $ 3,537 2,203 3,329 2,411 1,422

Governmental activities:

The City has 15 outstanding subscriptions payable for governmental activities of $2,078 as of June 30, 2025. The incremental borrowing rates ranges from 2.08% to 3.02%. The annual principal and interest payments range from $1,352 to $9 from FY 2025-26 to FY 2028-29.

Business-type activities:

The City has 3 outstanding subscriptions payable for business-type activities of $333 as of June 30, 2025. The incremental borrowing rates range from 2.70% to 2.85%. The annual principal and interest payments range from $117 to $62 from FY 2025-26 to FY 2028-29.

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CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Annual Requirement Schedules
The City’s annual debt service requirement schedules as of June 30, 2025 are as follows:

Governmental and business-type activities:

GMFA 2019 Lease Revenue
Refunding Bonds

Fiscal Year Interest Principal
2026 $ 648 2,345
2027 530 2,460
2028 407 2,585
2029 278 2,710
2030 143 2,850
$ 2,006 12,950

Electric Revenue Bonds Water Revenue Bonds
Fiscal Year Interest Principal Interest Principal
2026 $ 21,343 11,950 1,785 2,485
2027 20,745 12,545 1,712 2,560
2028 20,118 13,165 1,636 2,635
2029 19,460 13,800 1,538 2,735
2030 18,769 14,465 1,437 2,835
2031-2035 83,726 65,390 5,852 16,165
2036-2040 66,589 70,720 3,674 19,860
2041-2045 49,074 69,885 513 9,725
2046-2050 31,348 77,635 - -
2051-2054 9,898 77,295 - -
$ 341,070 426,850 18,147 59,000

Total Governmental
Activities
Total Business-type
Activities

Total
Debt Service Fiscal Year Interest Principal Interest Principal 2026 $ 648 2,345 23,128 14,435 40,556
2027 530 2,460 22,457 15,105 40,552
2028 407 2,585 21,754 15,800 40,546
2029 278 2,710 20,998 16,535 40,521
2030 143 2,850 20,206 17,300 40,499
2031-2035 - - 89,578 81,555 171,133
2036-2040 - - 70,263 90,580 160,843
2041-2045 - - 49,587 79,610 129,197
2046-2050 - - 31,348 77,635 108,983
2051-2054 - - 9,898 77,295 87,193
$ 2,006 12,950 359,217 485,850 860,023

79 281 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

The City's total future minimum lease payments under lease agreements as of June 30, 2025 are as follows:

Governmental Activities Business-type Activities
Total Fiscal Year Interest Principal Interest Principal 2026 $ 45 931 2 4 982
2027 32 334 2 4 372
2028 24 335 1 4 364
2029 15 337 1 5 358
2030 6 349 1 5 361
2031-2035 4 200 5 30 239
2036-2040 - - 2 43 45
2041 - - - 8 8
$ 126 2,486 14 103 2,729

The City's total future minimum subscription payments under subscriptions-based information technology agreements (SBITA) as of June 30, 2025 are as follows:

Governmental Activities Business-type Activities
Total Fiscal Year Interest Principal Interest Principal 2026 $ 40 1,312 7 110 1,469
2027 9 711 4 78 802
2028 1 46 2 83 132
2029 - 9 - 62 71
$ 50 2,078 13 333 2,474

80 282 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

NOTE 8 – PENSION PLANS

California Public Employees’ Retirement System

General Information about the Pension Plans

Plan Description

All eligible employees participate in the City’s agent multiple employer defined benefit pension plans, either Safety (police and fire sworn members) or Miscellaneous (all other members), administered by the California Public Employees’ Retirement System (CalPERS), which acts as a common investment and administrative agent for its participating member employers. Benefit provisions under the Plans are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions, and membership information that can be found on the CalPERS website at http://www.calpers.ca.gov.

Benefits Provided

CalPERS provides service retirement and disability retirement benefits, annual cost of living adjustments, and death benefits to plan members, who must be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full time employment. Members with five years of total service are eligible to retire at age 50 for Classic members and age 52 for PEPRA members, with statutorily reduced benefits. Members may be eligible for disability retirement benefits after a minimum of 5 years of service. The cost of living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law.

The pre-retirement death benefit is as follows:

If eligible to retire, the Pre-retirement Option 2W Death Benefit; or the Basic Death Benefit of a refund of contributions, plus interest; and up to six months’ pay (one month’s salary rate for each year of current service to a maximum of six months); and 1959 Survivor Benefit Program Level 4* (may not be payable if the Special Death Benefit is elected).

If not eligible to retire, the Basic Death Benefit of a refund of contributions, plus interest; and up to six months’ pay (one month’s salary rate for each year of current service to a maximum of six months); and 1959 Survivor Benefit Program Level 4* (may not be payable if the Special Death Benefit is elected).

*1959 Survivor Benefit Program Level 4 may not be applicable if there is no eligible Spouse/Registered Domestic Partner (must have been married/registered for at least one year prior to retirement) and an unmarried eligible dependent child under age 22. An eligible surviving spouse/registered domestic partner may be entitled to the 1959 Survivor Benefit Program Level 4 benefits as long as they have care of an eligible child (unmarried dependent child of the member living with the member in a parent-child relationship, while under age 22) or the surviving spouse/registered domestic partner is at least age 62 (age 60 at Level 4 and under the Indexed Level). An eligible surviving spouse/registered domestic partner may remarry and continue to receive the allowance.

81 283 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

The Plans’ provisions and benefits in effect at the measurement date ended June 30, 2024, are summarized as follows, which remain the same for FY 2024-25.

Miscellaneous
Hire date
Prior to
January 1, 2011
Between
January 1, 2011 and
December 31, 2012
On or after
January 1, 2013
Benefit formula 2.5% @ 55 2% @ 55 2% @ 62
Benefit vesting schedule 5 years of service 5 years of service 5 years of service Benefit payments monthly for life monthly for life monthly for life Retirement age 50-55+ 50-63+ 52-67+
Monthly benefits, as a % of
eligible compensation 2.0% to 2.5% 1.426% to 2.418% 1.0% to 2.5%

Safety
Hire date
Prior to
January 1, 2011
Between
January 1, 2011 and
December 31, 2012
On or after
January 1, 2013
Benefit formula 3% @ 50 3% @ 55 2.7% @ 57
Benefit vesting schedule 5 years of service 5 years of service 5 years of service Benefit payments monthly for life monthly for life monthly for life Retirement age 50-55+ 50-55+ 50-57+
Monthly benefits, as a % of
eligible compensation 3.0%

2.4% to 3.0% 2.0% to 2.7%

Employees Covered

At the measurement date ended June 30, 2024, the following employees were covered by the benefit terms:

Miscellaneous Safety
Inactive employees or beneficiaries currently receiving benefits 1,938 640 Inactive employees entitled to but not yet receiving benefits 2,470 102 Active employees 1,398 395
Total 5,806 1,137

Contributions

Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers are determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. The total plan contributions are determined through CalPERS’ annual actuarial valuation process. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability.

The City is required to contribute the difference between the actuarially determined rate and the contribution rates of employees. Employer contribution rates may change if plan contracts are amended. Payments made by the employer to satisfy contribution requirements that are identified by the pension plan terms as plan member

82 284 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

contribution requirements are classified as plan member contributions. Since FY 2017-18, the contribution for the unfunded liability is a fixed amount, rather than a rate of the payroll. The City converts the fixed amount into a rate based on the payroll, and combines it with the normal cost rate to calculate the total employer contribution rate.

At the fiscal year ended June 30, 2025, for the Miscellaneous Plan, the normal cost rate is 11.00%, the amount for the unfunded liability is $33,544, and the prepayment amount for the unfunded liability is $32,459. The City chose the prepayment option to pay the $32,459 in July 2024, instead of paying 1/12 th of $33,544 on a monthly basis. For FY 2024-25, the City calculates the rate for the unfunded liability to be 27.77%. Accordingly, the total employer contribution rate is 38.77%.

The City’s Miscellaneous Plan member contribution rates and employer contribution rates for FY 2024-25, including the employees’ cost sharing toward the employer rates, are shown in the table below:

Miscellaneous Plan
Employee
Group
CalPERS
Membership
Retirement
Formula
Member
Contribution
Rate
Employer
Contribution
Rate

Employees'
Cost Sharing City Portion Total
Council
Member
Classic (1st Tier) 2.5% @ 55 8.00% 3.00% 35.77% 38.77%
Classic (2nd Tier) 2.0% @ 55 7.00% 3.00% 35.77% 38.77%
PEPRA (3rd Tier) 2.0% @ 62 7.50% 3.00% 35.77% 38.77%
Executive
Classic (1st Tier) 2.5% @ 55 8.00% 1.75% 37.02% 38.77%
Classic (2nd Tier) 2.0% @ 55 7.00% 1.75% 37.02% 38.77%
PEPRA (3rd Tier) 2.0% @ 62 7.50% 1.50% 37.27% 38.77%
GCEA
Classic (1st Tier) 2.5% @ 55 10.50% 0.00%* 36.27% 36.27% Classic (2nd Tier) 2.0% @ 55 9.50% 0.00%* 36.27% 36.27% PEPRA (3rd Tier) 2.0% @ 62 10.00% 0.00%* 36.27% 36.27%
IBEW
Classic (1st Tier) 2.5% @ 55 8.00% 3.00% 35.77% 38.77%
Classic (2nd Tier) 2.0% @ 55 7.00% 3.00% 35.77% 38.77%
PEPRA (3rd Tier) 2.0% @ 62 7.50% 3.00% 35.77% 38.77%
GMA
Classic (1st Tier) 2.5% @ 55 9.75% 0.00%** 37.02% 37.02% Classic (2nd Tier) 2.0% @ 55 8.75% 0.00%** 37.02% 37.02% PEPRA (3rd Tier) 2.0% @ 62 9.00% 0.00%** 37.27% 37.27%

GCEA - Glendale City Employee Association

IBEW - International Brotherhood of Electrical Workers

GMA - Glendale Management Association

*Since May 2013, GCEA members' cost sharing rate became part of their member contribution rate.

In FY 2024-25, the cost sharing rate is 2.50%.

**Since November 2018, GMA members' cost sharing rate became part of their member contribution rate.

In FY 2024-25, the cost sharing rate is 1.75% for Classic employees, and 1.50% for PEPRA employees.

83 285 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

At the fiscal year ended June 30, 2025, for the Safety Plan, the normal cost rate is 22.52%, the amount for the unfunded liability is $27,627, and the prepayment amount for the unfunded liability is $26,733. The City chose the prepayment option to pay the $26,733 in July 2024, instead of paying 1/12th of $27,627 on a monthly basis.

For FY 2024-25, the City calculates the rate for the unfunded liability to be 40.59%. Accordingly, the total employer contribution rate is 63.11%.

The City’s Safety Plan member contribution rates and employer contribution rates for FY 2024-25, including the employees’ cost sharing toward the employer rates, are shown in the table below:

Safety Plan
Employee
Group
CalPERS
Membership
Retirement
Formula
Member
Contribution
Rate
Employer
Contribution
Rate

Employees'
Cost Sharing City Portion Total
Executive - Fire
Classic (1st Tier) 3.0% @ 50 9.00% 1.75% 61.36% 63.11%
Classic (2nd Tier) 3.0% @ 55 9.00% 1.75% 61.36% 63.11%
PEPRA (3rd Tier) 2.7% @ 57 12.50% 1.75% 61.36% 63.11%
Executive - Police
Classic (1st Tier) 3.0% @ 50 9.00% 1.75% 61.36% 63.11%
Classic (2nd Tier) 3.0% @ 55 9.00% 1.75% 61.36% 63.11%
PEPRA (3rd Tier) 2.7% @ 57 12.50% 1.75% 61.36% 63.11%
GMA - Fire
Classic (1st Tier) 3.0% @ 50 16.50% 0.00%* 55.61% 55.61% Classic (2nd Tier) 3.0% @ 55 16.50% 0.00%* 55.61% 55.61% PEPRA (3rd Tier) 2.7% @ 57 20.00% 0.00%* 55.61% 55.61%
GMA - Police
Classic (1st Tier) 3.0% @ 50 12.50% 0.00%* 59.61% 59.61% Classic (2nd Tier) 3.0% @ 55 12.50% 0.00%* 59.61% 59.61% PEPRA (3rd Tier) 2.7% @ 57 16.00% 0.00%* 59.61% 59.61%
GFFA
Classic (1st Tier) 3.0% @ 50 9.00% 4.50% 58.61% 63.11%
Classic (2nd Tier) 3.0% @ 55 9.00% 4.50% 58.61% 63.11%
PEPRA (3rd Tier) 2.7% @ 57 12.50% 3.50% 59.61% 63.11%
GPOA
Classic (1st Tier) 3.0% @ 50 9.00% 3.50% 59.61% 63.11%
Classic (2nd Tier) 3.0% @ 55 9.00% 3.50% 59.61% 63.11%
PEPRA (3rd Tier) 2.7% @ 57 12.50% 1.75% 61.36% 63.11%

GMA - Glendale Management Association

GFFA - Glendale Fire Fighter Association

GPOA - Glendale Police Officer Association

*Effective November 2018, GMA members' cost sharing rates became part of their member contribution rate.

In FY 2024-25, the cost sharing rate for GMA – Fire is 7.50%.

In FY 2024-25, the cost sharing rate for GMA – Police is 3.50%.

84 286 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

At the fiscal year ended June 30, 2025, as shown in the rates tables, in addition to the required member contributions, the City employees also contribute a portion of the required employer contribution, based on bargaining units’ MOUs. The employees’ cost sharing in the table below include the cost sharing that belong to the member contribution: $2,190 for the Miscellaneous Plan, and $334 for the Safety Plan. The breakdown of the required employer contribution between the City portion and the employee cost sharing is as follows:

Plan
Annual Required
Employer Contribution
City
Contribution
Employees’
Cost Sharing
Miscellaneous $
45,295 42,685 2,610
Safety
Police 24,755 23,640 1,115
Fire 16,811 15,637 1,174
Total Safety 41,566 39,277 2,289
Total $ 86,861 81,962 4,899

Net Pension Liability

The City’s net pension liability for each plan was measured as of June 30, 2024, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2023, rolled forward to June 30, 2024, using standard update procedures.

Actuarial Assumptions

The June 30, 2023 valuation was rolled forward to measure the June 30, 2024 total pension liability, based on the following actuarial methods and assumptions:

Valuation date June 30, 2023
Measurement date June 30, 2024
Actuarial cost method Entry Age Actuarial Cost Method
Actuarial assumptions:

Discount rate 6.90%
Price inflation 2.30%
Salary increase Varies by Entry Age and Service
Mortality rate table Derived using CalPERS' Membership Data for all funds

Post retirement
benefit increase

The lesser of contract COLA or 2.30% until Purchasing Power Protection Allowance floor on purchasing power applies, 2.30% thereafter

The mortality table used was developed based on CalPERS-specific data. The probabilities of mortality are based on the 2021 CalPERS Experience Study and Review of Actuarial Assumptions . Mortality rates incorporate full generational mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries. For more details on this table, please refer to the 2021 experience study report from November 2021 that can be found on the CalPERS website.

Long-term Expected Rate of Return

The long-term expected rate of return on pension plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

85 287 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations. Using historical returns of all the funds’ assets classes, expected compound (geometric) returns were calculated over the next 20 years using a building-block approach. The expected rate of return was then adjusted to account for assumed administrative expenses of 10 basis points. The expected real rates of return by asset class are as followed:

Asset Class* Assumed asset allocation Real return**
Global equity – Cap-weighted 30.00%

4.54%
Global equity – Non-cap-weighted 12.00% 3.84%
Private equity 13.00% 7.28%
Treasury 5.00% 0.27%
Mortgage-backed securities 5.00% 0.50%
Investment grade corporates 10.00% 1.56%
High yield 5.00% 2.27%
Emerging market debt 5.00% 2.48%
Private debt 5.00% 3.57%
Real assets 15.00% 3.21%
Leverage (5.00%) (0.59%)
Total 100.00%

*An expected inflation of 2.30% used for this period.

**Figures are based on the 2021 Asset Liability Management Study.

Discount Rates

The discount rate used to measure the total pension liability was 6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

86 288 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Changes in the Net Pension Liability
The changes in the Net Pension Liability measured as of June 30, 2024 for each plan is as follows:

Miscellaneous Plan:

Increase (Decrease)

Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability/(Asset)
(c) = (a) – (b)

Balance at June 30, 2024 $ 1,367,016 1,025,454 341,562 Changes in the year:

Service cost 18,651 - 18,651
Interest on total pension liability 92,739 - 92,739 Differences between expected and actual
experience
3,727

3,727
Contribution - employer - 37,998 (37,998) Contribution - employees - 10,084 (10,084) Net investment income - 97,851 (97,851) Benefit payments, including refunds of employee
contributions (72,044)

(72,044)

-
Administrative expense - (834) 834 Net changes 43,073 73,055 (29,982)
Balance at June 30, 2025 $ 1,410,089 1,098,509 311,580

Safety Plan:

Increase (Decrease)

Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability/(Asset)
(c) = (a) – (b)

Balance at June 30, 2024 $ 1,063,930 709,519 354,411 Changes in the year:

Service cost 18,192 - 18,192
Interest on total pension liability 72,463 - 72,463 Differences between expected and actual
experience
4,655

4,655
Contribution - employer - 37,093 (37,093) Contribution - employees - 6,385 (6,385) Net investment income - 68,030 (68,030) Benefit payments, including refunds of employee
contributions (54,977)

(54,977)

-
Administrative expense - (577) 577 Net changes 40,333 55,954 (15,621)
Balance at June 30, 2025 1,104,263 765 ,473 338,790

Total for both plans at June 30, 2025 $ 2,514,352 1,863,982 650,370

87 289 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Sensitivity of the Net Pension Liability to Changes in the Discount Rate

The following presents the net pension liability of each Plan, calculated using the discount rate of 6.90%, as well as what the City’s net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate:

Miscellaneous

Safety

Total
1% Decrease 5.90%

5.90%

5.90%
Net Pension Liability $ 496,221 488,011 984,232
Current Discount Rate 6.90%

6.90%

6.90%
Net Pension Liability $ 311,580 338,790 650,370
1% Increase 7.90%

7.90%

7.90%
Net Pension Liability $ 159,435 216,337 375,772

Pension Expense and Deferred Outflows/Inflows of Resources Related to Pensions

As of June 30, 2025, the City reported net pension liability, deferred outflows of resources and deferred inflows of resources for both Miscellaneous and Safety Plans as follows:

Net Pension
Liability

Deferred Outflows
of Resources

Deferred Inflows
of Resources

Pension
Expense
Governmental activities:

Miscellaneous plan $ 199,044 42,014 413 28,963
Safety plan 338,790 68,900 868 47,179
Total Governmental activities 537,834 110,914 1,281 76,142

Business-type activities:

Miscellaneous plan 112,536 22,676 232 15,287
Total $ 650,370

133,590

1,513

91,429

Miscellaneous Plan:

At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows
of Resources
Deferred Inflows
of Resources
Pension contributions subsequent to measurement date $ 43,104 - Changes of assumptions 1,213 -
Differences between expected and actual experience 4,400 645 Net differences between projected and actual earnings
on plan investments 15,973

-
Total $ 64,690 645

88 290 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

The amount of $43,104 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ending June 30, 2026.

Other amounts reported as deferred outflows/(inflows) of resources related to pensions will be recognized as pension expense as follows:

Year ending June 30, Amounts
2026 $ 2,968
2027 27,911
2028 (4,342)
2029 (5,596)
Total $ 20,941

Safety Plan:

At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows
of Resources
Deferred Inflows
of Resources
Pension contributions subsequent to measurement date $ 41,232 - Changes of assumptions 8,907 -
Differences between expected and actual experience 7,768 868 Net differences between projected and actual earnings
on plan investments 10,993

-
Total $ 68,900 868

The amount of $41,232 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ending June 30, 2026.

Other amounts reported as deferred outflows/(inflows) of resources related to pensions will be recognized as pension expense as follows:

Year ending June 30, Amounts
2026 $ 9,647
2027 22,279
2028 (1,553)
2029 (3,573)
Total $ 26,800

Pension Plan Fiduciary Net Position

Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.

89 291 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Supplemental Retirement Plan
In May 2012, in an effort to substantially reduce staffing levels to address a projected $15,400 General Fund shortfall for FY 2012-13, the City contracted with Public Agency Retirement Services (PARS) to offer an early retirement incentive plan to provide supplemental retirement benefit payments to eligible employees in addition to the benefit payments the employees will receive from the California Public Employees’ Retirement System (CalPERS). To be eligible to participate in the plan, the employees must have been a Glendale City Employee Association (GCEA) or Glendale Management Association (GMA) employee, be at least 50 years of age as of September 1, 2012, and have a minimum 5 years of CalPERS service credit. The employees needed to resign from the City by August 31, 2012.

The plan offered 5% of the employees’ final pay, which the employees could choose various options to receive the payment, such as unmodified lifetime monthly payment, or higher fixed monthly payment for a fixed number of years.

There were 122 employees who participated in the plan.

In October 2012, the City provided the same early retirement incentive plan to the employees represented by International Brotherhood of Electrical Workers Association (IBEW), and also offered an extension of the incentive program to employees represented by GCEA and GMA. The same parameters were applied for the extension of the incentive program, with the exception of the retirement eligibility date and date of separation advancing to October 31, 2012. There were 30 additional employees participating in the second phase. The plan is closed. As of June 30, 2025, there are four remaining participants and the liability is not material. Therefore, the liability is not reported in the accompanying financial statements. During the fiscal year, the City paid $35 to PARS.

Public Agency Retirement Services (PARS)

The PARS Trust, created in 1991, is a trust arrangement established to provide economies of scale and efficiencies of administration to public agencies that adopt it to hold the assets of their agency retirement plans maintained for the benefit of their employees. The Omnibus Budget Reconciliation Act of 1990 (OBRA 90) amended the Internal Revenue Code to mandate that employees of public agencies, who are not members of their employer’s existing retirement system as of January 1, 1992, be covered under Social Security or an alternate plan. The PARS ARS Plan satisfies the OBRA 90 Federal Requirements. It is intended that this plan and the trust established to hold the assets of the plan shall be qualified under Section 401(a) and tax-exempt under Section 501(a) of the Internal Revenue Code of 1986, as amended, and meet the requirements of California Government Code Sections 53215 through 53224 providing how pension trusts must be established by public agencies. Through PARS, agencies have the ability to design and control retirement plans according to their own specific needs, including specific collective bargaining requirements. The City adopted the PARS ARS Plan, effective September 1, 1999 as an alternate plan to Social Security for the hourly employees who are not eligible for participation in the City’s CalPERS retirement plan.

Any City hourly employee who is not eligible to enroll in the CalPERS retirement plan is enrolled in PARS ARS instead of social security. After completing 1,000 work hours within a fiscal year, hourly employees are eligible to enroll in CalPERS retirement plan. This does not apply to CalPERS retired annuitants. For each pay period, employees contribute 6.2%, and the City contributes 1.3% of employee earnings into employees’ PARS account.

Both contributions are made on pre-tax basis. For FY 2024-25, PARS payments were $84 and $18 for employee portion and employer portion, respectively. Since the plan is a 401(a) Defined Contribution, there is no unfunded liability to the City. A participant in the PARS ARS Plan (or their beneficiary in the event of death) becomes eligible to receive their funds when one of the following events occurs: Separation of Employment, Retirement, Permanent and Total Disability, or change of employment status to a position covered by another retirement system. For active employees, if there are no contributions into their PARS ARS account for two years, they may be eligible for a distribution of their account.

90 292 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

NOTE 9 – Other Post Employment Benefits Than Pensions (OPEB) Plan Description
The City’s defined benefit OPEB plan, City of Glendale Retiree Benefits Plan (Plan), provides OPEB for all permanent full-time general and public safety employees of the City. The Plan is a single-employer defined benefit OPEB plan administered by the City and governed by the City Council. No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75.

Benefits Provided

The City provides Medicare Part A reimbursements to retirees and their spouses if the retirees were hired in the City prior to April 1, 1986, and ineligible for premium-free Medicare Part A.

The City also provides cash subsidy for medical insurance premiums to three groups of retirees: (1) retirees who retired before July 1, 2001, and the length of the subsidy was pre-determined based on the retirees’ sick leave balances at the time of retirement. The subsidy is capped by the actual premium, and the unreduced city-paid amount continues to surviving spouses if the retirees die prior to the pre-determined payment period; (2) retirees who retired before June 1, 2016 with a minimum of 10 years of City service, enroll in a City sponsored medical plan and meet the annual income requirement. The eligibility and subsidy amount are evaluated on an annual basis. This is a lifetime subsidy for the eligible retirees except it will discontinue at age 65 for the retirees with enhanced pension benefits. The benefit will continue to surviving spouses, if applicable; (3) the surviving spouses and dependents of deceased retirees if the retirees retired before June 1, 2008 and enrolled in Anthem Blue Cross PPO at the time of the death, and the length of subsidy is two years.

The City also provides cash subsidy for medical insurance premium to surviving spouses and dependents of active non-safety employees who pass away during their employment with the City. The subsidy is two years for the City Council, the Executives and the GMA employees, regardless of the medical insurance plans enrolled at the time of the death. The subsidy is two years for GCEA and IBEW employees if enrolled in Anthem Blue Cross PPO at the time of the death. The subsidy is two years for GCEA and IBEW employees if enrolled in HMO plans at the time of the death and if the employees’ death is a result of injuries incurred in the performance of his/her assigned duties. At the same time, the City provides cash subsidy for dental insurance premium to surviving spouses and dependents of active safety employees who pass away during their employment with the City. The subsidy continues until the spouses turn 65 and the children turn 26 (if applicable).

The above benefits offered to retirees are no longer available to new entrants because of the restriction of the retirement dates. Benefits payments made by the City for the year ended June 30, 2025 were $375.

Employees Covered by Benefit Terms

At June 30, 2024, the most recent measurement date, the following current and former employees were covered by the benefit terms under the Plan:

Inactive employees or beneficiaries currently receiving benefit payments 62

Inactive employees entitled to but not yet receiving benefit payments 75 Active employees 1,398
Total 1,535

Total OPEB Liability

The City’s total OPEB liability of $7,904 was measured as of June 30, 2024, and was determined by an actuarial valuation as of June 30, 2023, rolled forward to June 30, 2024 using standard update procedures. A summary of principal assumptions and methods used to determine the total OPEB liability is shown below.

91 293 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Actuarial Assumptions and Other Inputs
The total OPEB liability in the June 30, 2023 actuarial valuation was determined using the following actuarial assumptions and other inputs, applied to all periods included in the measurement, unless otherwise specified:

Actuarial valuation date June 30, 2023
Measurement date June 30, 2024
Discount rate 3.93%
General inflation 2.50% annually
Medicare Part A trend 3.50% annually (inflation + 1%)
Not related to health care trend
Medical Trend Non-Medicare – 8.5% for 2025, decreasing to an ultimate rate of 3.45% in 2076
Medicare (Non-Kaiser) – 7.5% for 2025, decreasing to an ultimate rate of 3.45% in 2076
Medicare (Kaiser) – 6.25% for 2025, decreasing to an
ultimate rate of 3.45% in 2076

The discount rate was based on the Bond Buyer 20-Bond index.

Mortality, Retirement Disability and Termination information was derived from data collected during CalPERS 2000- 2019 Experience Study. Mortality projected fully generational with Scale MP-2021.

Changes in the Total OPEB Liability

The changes in the total OPEB liability measured as of June 30, 2024, is as follows:

Total OPEB Liability
Balance at June 30, 2023 $ 8,299
Changes in the year:

Service cost 15
Interest 296
Assumption changes (246)
Actual vs. expected experience -
Benefit payments (460)
Net changes (395)
Balance at June 30, 2024 $ 7,904

Sensitivity of the Total OPEB Liability to Changes in the Discount Rate

The following presents the total OPEB liability of the City, as well as what the City’s total OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower or 1-percentage-point higher than the current discount rate:

2.93% 3.93% 4.93%
Total OPEB Liability $ 8,836 7,904 7,123

92 294 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates The following presents the total OPEB liability of the City, as well as what the City's total OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower or 1-percentage-point higher than the current healthcare cost trend rates:

1% Decrease
(Trend -1%)
Current
Healthcare Cost
Trend Rates

1% Increase
(Trend +1%)
Total OPEB Liability $ 7,849

7,904

7,968

Non-Medicare trend rate of 8.5% for 2025, decreasing to an ultimate rate of 3.45% in 2076. Medicare trend rate (Non-Kaiser) of 7.5% for 2025, decreasing to an ultimate rate of 3.45% in 2076. Medicare trend rate (Kaiser) of

6.25% for 2025, decreasing to an ultimate rate of 3.45% in 2076.

OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB

For the year ended June 30, 2025, the City recognized OPEB income of $658. At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Deferred Outflows
of Resources
Deferred Inflows
of Resources
OPEB payments made subsequent to the measurement date $ 375 - Changes of assumptions 1,572 3,923
Differences between expected and actual experience - 3,876

Total $ 1,947 7,799

The amount of $375 reported as deferred outflows of resources related to OPEB payments subsequent to the measurement date will be recognized as a reduction of the total OPEB liability in the year ending June 30, 2026.

Other amounts reported as deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:

Year ending June 30, Amounts
2026 $ (969)
2027 (789)
2028 (731)
2029 (695)
2030 (875)
Thereafter (2,168)
Total $ (6,277)

Change in Assumptions

Discount rate was updated based on municipal bond rate as of the measurement date.

93 295 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

NOTE 10 – NET DEFICITS OF INDIVIDUAL FUNDS

As of June 30, 2025, the following funds have negative fund balances or net position:

Governmental funds:

Special revenue funds:

CDBG Fund $ 59
Home Grant Fund 481
Continuum of Care Grant Fund 351
Grant Fund 4,490
Measure M Subregional Fund 972
Measure H Fund 28
PW Special Grants Fund 35
Measure R Regional Return Fund 6,408
Police Fund 485
Fire Grant Fund 137
Fire Mutual Aid Fund 664
Library Fund 980

Capital projects funds:

CIP Reimbursement Fund $ 6,241
Measure A Parks Fund 73

Proprietary funds:

Internal service funds:

Compensated Absences Fund $ 13,915
Retiree Health Savings Plan (RHSP) Benefits Fund 5,443

The CDBG Fund, Home Grant Fund, Continuum of Care Grant Fund, Grant Fund, Measure M Subregional Fund, Measure H Fund, PW Special Grants Fund, Measure R Regional Return Fund, Police Fund, Fire Grant Fund, Fire Mutual Aid Fund, Library Fund, CIP Reimbursement Fund and Measure A Parks Fund are reimbursement type funds. The City requests reimbursement of actual expenditures. As such, there will always be a timing difference between revenues and expenditures resulting in a deficit, as revenues do not represent available resources.

For Compensated Absences Fund and Retiree Health Savings Plan (RHSP) Benefits Fund, the City will continue to increase the future charges to other funds to eliminate the deficit.

94 296 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

NOTE 11 – RISK MANAGEMENT
The City is exposed to various risks of loss related to torts, theft of, damage to and destruction of assets, errors and omissions, injuries to employees, and natural disasters. The City retains risks for the following types of liabilities:
workers’ compensation, unemployment insurance, general, auto, dental, medical and vision as well as public liability through separate internal service funds. The City purchased several commercial insurance policies from third-party insurance companies for errors and omissions of its officers and employees, and destruction of assets as well as excess workers’ compensation and general public liability claims. The City also purchases property, aviation, employee dishonesty, cyber, DNA lab E & O and fine art insurance.

The City joined insurance pool PRISM (Public Risk Innovation, Solutions and Management) in July 2023 after determining this as an effective way of lowering the cost of annual excess liability insurance rates. By pooling resources with other organizations, the City can share risks, benefit from collective bargaining power, and potentially achieve lower premiums due to the larger risk pool. Some advantages and considerations associated with joining an insurance pool include cost savings by sharing risks and resources with other members, PRISM may offer more comprehensive coverage options that may not be available individually. By participating in a pool, the City may provide more stability in insurance rates over time, reducing the impact of market fluctuations.

There were no significant settlements or reductions in insurance coverage from settlements for the past three years.

The insurance schedule for FY 2024-25 is as follows:

Insurance Type
Program
Limits

Deductible/SIR (self-insured retention)
Excess Liability Insurance $
27,000

$2,000 SIR per occurrence
Excess Workers’ Comp Employer’s Liability Insurance Statutory $2,000 SIR per occurrence Property Insurance (GWP) 170,000 Various deductibles Property Insurance (Non-GWP) 534,110 $25 property, $100 flood damage Aviation Insurance (Police Helicopter) 50,000 Various deductibles Employee Dishonesty – Crime Policy, Excess Crime 6,000 $2,000 Single Loss Limit Cyber Insurance 5,000 Various deductibles
DNA Lab – E & O 2,000 $10 each claim
Art Policy (Fine Arts) 3,000 $1 each Claim

Operating funds are charged a premium and the internal service funds recognize the corresponding revenue. Claims expenses are recorded in the internal service funds. Premiums are evaluated periodically, and increases are charged to the operating funds to reflect recent trends in actual claims experience and to provide sufficient reserve for catastrophic losses.

Claims payable liability has been established in these funds based on estimates of incurred but not reported and litigated claims. Management believes that provisions for claims at June 30, 2025, are adequate to cover the cost of claims incurred to date. However, such liabilities are, by necessity, based upon estimates and there can be no assurance that the ultimate cost will not exceed such estimates. A reconciliation of the changes in the aggregate liabilities for Liability Insurance Fund, Compensation Insurance Fund and Medical Insurance Fund for claims for the current fiscal and the prior fiscal year are as follows:

Fiscal Year
Beginning
Balance
Claims and
Charges
Claim
Payments
Ending
Balance
Due within
One Year
2023-24 $ 83,699 47,062 48,194 82,567 15,758
2024-25 $ 82,567 50,953 49,971 83,549 16,294

95 297 of 572

CITY OF GLENDALE
Notes to the Basic Financial Statements
Fiscal Year Ended June 30, 2025
(in thousands)

The City has numerous claims and pending legal proceedings that generally involve accidents regarding its citizens on City property and employment issues. These proceedings are, in the opinion of management, ordinary routine matters incidental to the normal business conducted by the City. In the opinion of management, such proceedings are substantially covered by insurance, and the ultimate disposition of such proceedings are not expected to have a material adverse effect on the City's financial position, results of operations, or cash flows.

Claims payable are primarily liquidated by the respective internal service funds.

NOTE 12 – CONTINGENT LIABILITIES AND COMMITMENTS

Power Purchase Agreements

Since 1937, the City has held capacity and energy rights to the hydropower generation from the Hoover Power Plant through contracts with the U.S. Bureau of Reclamation (Bureau) and the U. S. Department of Energy Western Area Power Administration (Western). As a contractual partner with the Bureau and Western, the City has the right to a share of the power generated by the Hoover Power Plant.

The City’s long-term contract for Hoover Power, last renewed in 1987, expired on September 30, 2017. However, as approved by the City Council on August 23, 2016, they were replaced by a new Electric Services Contract with the United States Department of Energy Western Area Power Administration (“Western”) and an Amended and Restated Implementation Services Agreement with Western, the United States Bureau of Reclamation, and the Boulder Canyon Project contractors, for the purchase of energy and capacity from the Boulder Canyon Project (commonly known as Hoover Dam). The current Electric Services Contract allows the City to continue ownership share in the Hoover Power Plant and the continued right to purchase power and capacity from the Hoover Power Plant, for a term of fifty years beginning on October 1, 2017 through September 30, 2067. The City is entitled to 33 megawatts.

In November 2007, City Council approved a power purchase agreement with Southern California Public Power Authority (SCPPA) for the purchase of 20 megawatts of renewable energy from Pebble Springs Wind Generation Facility for a term of 18-years. The project began commercial operation in January 2009.

In September 2014, the City entered into a 25-year contract with Skylar Resources L.P. for the purchase of 50 megawatts of firmed solar-generated electric power generated from a solar facility within Western Electricity Coordinating Council (WECC) designated by Skylar, with a guarantee by the seller that at least fifty percent of 50 MW/hour to qualify as Portfolio Content Category 1 (PCC1) renewable energy on an annual basis. In November 2015, the transaction was bifurcated into 2 separate agreements. The first agreement was a four-year contract with Morgan Stanley Capital Group, Inc. (MSCG) from December 1, 2015 through December 31, 2019. The second agreement was a 21-year contract with Skylar from January 1, 2020 through November 30, 2040. In October 2017, the existing power purchase agreement was terminated and replaced with a 21-year Western Systems Power Pool (WSPP) Power Purchase Agreement (PPA) to increase renewable and carbon-free energy deliveries from 50% to 75%.

As of October 1st, 2021, the 21-year agreement executed on October 25, 2017 was assigned to Townsite Solar, LLC (“Townsite”), for the remaining 19 years of the PPA term. Under the Agreement, Townsite will continue to provide Glendale with 292,000 MWh of renewable and carbon-free energy per year, through November 30, 2040.

In February 2020, City Council authorized a 25-year Power Sales Agreement (PSA) with SCPPA for the purchase of 3 megawatts of renewable geothermal energy from the Whitegrass Geothermal Project located in Lyon County, Nevada. Glendale has a 100% entitlement interest in the total energy, capacity, and environmental attribute rights produced by the project. The project began commercial operation in April 2020.

In February 2020, City Council authorized a 24-year Power Sales Agreement (PSA) with the SCPPA for the purchase of 12.5 megawatts of renewable geothermal energy from Star Peak Geothermal Energy Project located in Pershing County, Nevada. Glendale has a 100% entitlement interest in the total energy, capacity, and environmental attribute rights produced by the project. The project began commercial operation in September 2022.

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In December 2019, the City Council authorized a 25-year Power Sales Agreement (PSA) with SCPPA for the purchase of 12.5% renewable solar energy, battery energy storage system (BESS) capacity, and environmental attributes of the Eland 1 Solar and Storage Center. The purchase of renewable solar energy is from the Eland I Solar and Storage Center, a facility located in Kern County, California. The energy will be delivered at Barren Ridge, and Glendale has entered into an agreement with the Los Angeles Department of Water and Power for the transmission of the energy to Glendale. Glendale has a 12.5% entitlement interest in total capacity, energy, storage, and Glendale has entered into an agreement with the Los Angeles Department of Water and Power for the transmission of energy to Glendale. Glendale has a 12.5% entitlement interest in the total capacity, energy, storage, and environmental attribute rights produced by the Facility, or 25 MW of renewable solar energy and 18.75 MW/75 MWh of battery storage capacity. The project began delivering test energy in spring 2024 and began commercial operation in November 2024.

Scholl Canyon Landfill

Pursuant to Assembly Bill 2448 and the regulations established by the California Integrated Waste Management Board (Board), landfill operators are required to submit an initial cost estimate of postclosure maintenance and to establish a financial mechanism to demonstrate the availability of funding to conduct postclosure maintenance activities. The City selected a trust fund as the financial mechanism and the Board approved this. The City Treasurer was designated as the trustee to ensure that the City set aside annual required deposits. The City contracts with Los Angeles County Sanitation District (Sanitation District) to operate Scholl Canyon and as part of this contract, the County is responsible for the closure cost of Scholl Canyon. The City is responsible for the postclosure maintenance cost of Scholl Canyon. According to Los Angeles County Sanitation District's records, the permitted capacity filled between August 18, 1989 and July 10, 2024 was 14.22 million tons. The permitted capacity filled between July 11, 2024 and July 10, 2025 was 0.24 million tons. The total permitted capacity as of August 18, 1989 remains 14.75 million tons. Therefore, the City has 0.29 million tons unfilled capacity remaining.

Using an inflation factor from the Sanitation Districts of 1.024, the total estimated care postclosure cost is $88,223.

Using the data above, the amount of $86,488 is recognized as a long-term liability on the Statement of Net Position.

Accordingly, the portion of the estimated total obligation for landfill postclosure costs that has not been recognized in the financial statements is $1,735. The City records the annual provision for the required landfill deposits as restricted cash in the Landfill Postclosure Fund. At the end of June 30, 2025, the City has set aside $62,563 in the Landfill Postclosure Fund. The total current cost of landfill postclosure care is an estimate subject to changes resulting from inflation, deflation, technology, or changes in applicable laws or regulations.

NOTE 13 – JOINTLY GOVERNED ORGANIZATIONS

Joint Powers Agreement for Interagency Communications Interoperability System Authority

The Interagency Communications Interoperability System Authority (ICI System) was created through a Joint Powers Agreement in 2003. The City is an active governance member of the ICI System Authority. Other governance member jurisdictions include the cities of Beverly Hills, Burbank, Culver City, Montebello, Pasadena, Pomona, Santa Monica, the Interoperability Network of South Bay (INSB) JPA, and the ComNet JPA of the San Gabriel Valley. The goal of the ICI System is to enable regional emergency resources to communicate directly with one another at all times. The ICI System Authority supports more than 70 Fire and Police agencies, 35 9-1-1 Dispatch Centers, and in total more than 120 general government first responder agencies by providing fully regional mission critical communications through a System Master Site based in Glendale. With more than 25,000 local government radios affiliated to the network, the ICI System is one of the largest in the nation.

Joint Powers Authority - California Community Housing Agency

The California Community Housing Agency (CalCHA) is a joint power agency created in January 2019 to provide housing for low and moderate income households. CalCHA issues tax-exempt government bonds to acquire existing market-rate apartment complexes. CalCHA generally targets Class A apartment complexes valued at $100,000 or greater, similar to market-rate projects recently constructed in Glendale’s Downtown Specific Plan. Once owned by CalCHA, these complexes are converted to income and rent-restricted units for low and moderate income

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households. CalCHA is able to competitively bid on these market rate projects due in large part to their tax-exempt status and below market-rate financing costs.

In Glendale, CalCHA’s program would generally address households with annual incomes ranging from $53 (1-person household at 50% AMI) to $138 (5-person household at 120% AMI). Under CalCHA’s program, no existing tenants are displaced. As market-rate units naturally turnover, they are re-leased to low and moderate income households with income and rent restrictions for the life of the bonds. The restricted rents are capped at no more than 35% of the applicable percentage of AMI (i.e. 60%, 80%, 100% and 120%). Additionally, annual rent increases are capped at no more than 4%. This is less than the rent increases under AB1482, the recently adopted State tenant protection legislation. The bonds issued by CalCHA to acquire properties in Glendale do not affect the City’s bonding capacity nor is the City or Housing Authority responsible in any way for the debt service of the bond.

The City of Glendale has the option of acquiring the property from the JPA beginning in year 15 for the amount of the outstanding debt. The City can also wait until the bonds are paid off, typically in year 30, and assume ownership of the asset at no expense other than transactional costs.

To date, CalCHA has acquired two market-rate projects in Glendale. These projects include Next on Lex with 494 apartment units and Brio Apartments with 205 units, for a total of 699 rental apartment units.

Joint Powers Authority – California Statewide Communities Development Authority – Community Improvement Authority

The California Statewide Communities Development Authority – Community Improvement Authority (CSDCA-CIA) is a joint power agency created in October 2020 to provide housing for low and moderate income households. Like CalCHA, CSCDA-CIA also issues tax-exempt government bonds to acquire existing market-rate apartment complexes, targeting Class A properties valued at $100,000 or greater. Both CalCHA and CSCDA-CIA target properties valued at $100M or greater. Once owned by CSCDA-CIA, these complexes are converted to income and rent-restricted units for low and moderate income households. CalCHA is able to competitively bid on these market rate projects similarly to CalCHA because of their tax-exempt status and below market-rate financing costs.

In Glendale, CSCDA-CIA’s program targets households with annual incomes ranging from $78 (1-person household at 80% AMI) to $127 (5-person household at 120% AMI). Under the program, no existing tenants are displaced. As market-rate units naturally turnover, they are re-leased to low and moderate income households with income and rent restrictions for the life of the bonds. The restricted rents are capped at no more than 35% of the applicable percentage of AMI (i.e. 60%, 80%, 100% and 120%). Additionally, annual rent increases are capped at no more than 4%. This is less than the rent increases under AB1482, the recently adopted State tenant protection legislation. The bonds issued by CalCHA to acquire properties in Glendale do not affect the City’s bonding capacity nor is the City or Housing Authority responsible in any way for the debt service of the bond.

To date, CSCDA-CIA has acquired three market-rate projects in Glendale. These projects include Altana with 507 apartment units, hue39 (formerly Brio) with 143 units, and Towne at Glendale with 126 units, for a total of 776 rental apartment units.

As of January 1, 2022 CSDCA-CIA has issued bonds for the acquisition of Towne at Glendale. The CSCDA Community Improvement Authority Essential Housing Senior Lien Revenue Bonds, Series 2022A (Towne-Glendale) (Social Bonds) (the “Series A Bonds”), (ii) the CSCDA Community Improvement Authority Essential Housing Mezzanine Lien Revenue Bonds, Series 2022B (Towne-Glendale) (Social Bonds) (the “Series B Bonds”), and (iii) the CSCDA Community Improvement Authority Essential Housing Subordinate Lien Revenue Bonds, Series 2022C (the “Series C Bonds”), with such other series and sub-series designations as may be set forth in the Indenture, originally issued to finance Owner’s acquisition of the Project and related transaction costs.

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Joint Powers Authority – Burbank-Glendale-Pasadena Regional Housing Trust

SB 1177 was signed into law by Governor Newsom and became effective January 1, 2023. The bill authorized the creation of the Burbank-Glendale-Pasadena Regional Housing Trust, a joint powers authority, of the Cities of Burbank, Glendale, and Pasadena, with the stated purpose of funding housing to assist the homeless population and persons and families of extremely low, very low, low, and moderate income. The bill also authorized the Burbank- Glendale-Pasadena Regional Housing Trust to fund the planning and construction of housing, receive public and private financing and funds, and authorize and issue bonds. The governance structure of the Trust consists of a Board of Directors with one elected official from each of the three cities.

Joint Power Agreement for San Fernando Valley Council of Governments

The San Fernando Valley Council of Governments (SFVCOG) was created through a Joint Power Agreement in 2010. The City is an active member of the SFVCOG. Other member jurisdictions currently participating include the City of Los Angeles with seven board representatives for each City Council district located entirely or partially in the San Fernando Valley, two board representatives from each of the Los Angeles County Supervisorial Districts located entirely or partially in the San Fernando Valley, and one representative each from the Cities of Burbank, Glendale, San Fernando and Santa Clarita. In its official capacity, the SFVCOG acts as a planning sub-region for the Southern California Association of Governments (SCAG) and focuses on promoting better regional coordination of planning and transportation planning efforts in the San Fernando Valley. The SFVCOG also engages in local, regional, state and federal grant development programming for the region.

Joint Power Agreement for Arroyo Verdugo Communities

The Arroyo Verdugo Communities was created through a Joint Power Agreement in 2017. The City is an active member of the Arroyo Verdugo Communities. Other members include City of Burbank, City of La Canada Flintridge, City of Pasadena, City of South Pasadena and County of Los Angeles. The purpose of the creation of the Joint Power Authority is to provide a vehicle for the members to coordinate regional and cooperative planning, primarily in the area of transportation and determining how to prioritize regional transportation projects and allocation of Measure M sub-regional funds and other public monies, including building a more connective transportation system between the member agencies.

Joint Power Agreement for Verdugo Consortium

The City, along with the Cities of Burbank and La Canada Flintridge, established a joint power agreement on December 14, 1999, named the Verdugo Consortium (the Consortium) for the purpose of receiving a Workforce Innovation and Opportunity Act (WIOA) allocation and administering the WIOA program as a single participation jurisdiction. This agreement designates an approved entity which consists of one elected official from each of the three cities, to ratify appointments for members of the Verdugo Workforce Development Board (VWDB). The City, as the Consortium’s designated administrative entity, has assumed the overall responsibility for ensuring that the Consortium is compliant with all of VWDB’s grant funded program requirements, including the receipt, disbursement, accounting for all grant funded programs, and matching funds, including WIOA.

“Take or Pay” Contracts

The City has entered into twelve “Take or Pay” contracts, which require payments to be made whether or not projects are completed or operable, or whether output from such projects is suspended, interrupted or terminated. Such payments represent the City’s share of current and long-term obligations. Payment for these obligations is expected to be made from operating revenues received during the year that payment is due. These contracts provide for current and future electric generating capacity and transmission of energy for City residents. Through these contracts, the City purchased approximately 33% of its total energy requirements during FY 2024-25. With a few exceptions, the City is obligated to pay the amortized cost of indebtedness regardless of the ability of the counterparty to provide electricity. The original indebtedness will be amortized by adding the financing costs to purchase energy over the life of the contract. All of these agreements contain “step-up” provisions obligating the City to pay a share of the obligations of any defaulting participant.

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• The Intermountain Power Agency (IPA), a subdivision of the State of Utah, was formed in January 1974 to finance the construction of a 1,400 megawatt coal-fired generating plant, consisting of two generating units located near Delta, Utah and associated transmission lines, called the Intermountain Power Project (IPP). The project began uprating of the two generating units in early 2003. When the uprating was finished in March 2004, it increased the capacity of the plant from 1,400 megawatts to 1,800 megawatts. The City through contract is obligated for 30 megawatts or 1.70% of the generation. In addition, the City entered into an “Excess Power Sales Agreement” with the IPA, agent for the Utah Municipal Purchasers and the Cooperative Purchasers, which entitles the City to additional shares that can vary from year to year. As of June 30, 2025, Glendale’s excess entitlement share is 0.50%. The City’s total obligation from IPP is up to 39 megawatts. The current agreement expires in June 2027.

Activities to repower the 1,800 megawatts coal-fired generation facility with 840 megawatts natural gas-fired combined cycle generation commenced in 2019. On July 23, 2019, the City Council approved GWP’s recommendation for continued participation in the IPP project which enabled Glendale to retain its 4.166% share of the plant and increase its share of the Southern Transmission System (STS) to 5.278%, providing Glendale 35 megawatts of generation and 127 megawatts of transmission capacity through 2077. The IPP Repowering project also includes the plan to fuel the plant entirely with green hydrogen by 2045, beginning with 30% in 2025.

The City joined the Southern California Public Power Authority (SCPPA) on November 1, 1980. This authority, consisting of the California cities of Anaheim, Azusa, Banning, Burbank, Cerritos, Colton, Glendale, Los Angeles, Pasadena, Riverside, Vernon, and the Imperial Irrigation District, was formed for the purpose of financing future power resources. The City has entered into eleven projects with SCPPA.

• The first of the SCPPA projects is a 3,810 megawatt nuclear fuel generation plant in Arizona. The Palo Verde (PV) nuclear project consists of 3 units, each having an electric output of approximately 1,270 megawatts.

SCPPA has purchased approximately 225 megawatts of capacity and associated energy (approximately 5.91% of total Palo Verde output), of which the City receives 9.9 megawatts or 4.40% of SCPPA’s entitlement. As of June 30, 2025, Glendale’s share is 4.40%.

• The second project financed through SCPPA is the Southern Transmission System (STS) that transmits power from the coal-fired IPP to Southern California. The 500 kV DC line is currently rated at 2,400 megawatts. The City’s share of the line is 2.27% or approximately 55 megawatts. As of June 30, 2025, Glendale’s share is 2.27%.

In October 2022, the City Council authorized execution of the Renewal Agreement for the Acquisition of Capacity, and Renewal Transmission Service Contract with SCPPA for STS, including any ancillary documents to administer and effectuate the implementation of these agreements. As a result, the City will acquire in 2027, transmission capacity of 5.278% through 2077.

• A third project financed through SCPPA is the acquisition of 41.80% ownership interest in a coal-fired 497 megawatt unit in San Juan Generating Station, Unit 3 (SJ), located in New Mexico. SCPPA members are entitled to 208 megawatts. The Electric Utility is obligated for 20 megawatts or 9.80% of the SCPPA entitlement. In July 2015, the City Council authorized the SCPPA to execute, on Glendale’s behalf, a set of three agreements that collectively shut down Unit 3 at the coal-fired San Juan Power Plant in New Mexico at the end of December 2017. The termination of operations at San Juan Unit 3 will help GWP achieve California state goals regarding the reduction of greenhouse gas emissions. Under the Mine Reclamation and Plant Decommissioning Agreements, Electric Utility remains responsible for the liability arising from operations before December 31, 2017. Electric Utility’s obligation after 2017 is defined by approximately 1.3% of the cost of reclaiming disturbances at the mine site as of December 31, 2017. Costs of plant decommissioning will be split between exiting participants and remaining participants.

• The fourth project financed through SCPPA is Mead-Adelanto Project (MA). The project consists of a 202-mile 500 kV AC transmission line extending between the Adelanto Substation in Southern California and the

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Marketplace Substation in Nevada, and the development of the Marketplace Substation at the southern Nevada terminus approximately 17 miles southwest of Boulder City, Nevada. Currently, the transmission line has a transfer capability of the Mead-Adelanto Project is estimated at 1,291 megawatts. SCPPA members in the project are entitled to 876 megawatts. The City is obligated for 97 megawatts or 11.04% of the SCPPA entitlement. As of June 30, 2025, Glendale’s share is 11.04%.

• The fifth project financed through SCPPA is Mead-Phoenix Project (MP). The project consists of a 256-mile long 500 kV AC transmission line from the Westwing Substation in the vicinity of Phoenix, Arizona to the Marketplace Substation approximately 17 miles southwest of Boulder City, Nevada with an interconnection to the Mead Substation in southern Nevada. The project consists of three separate components: the Westwing- Mead Component, the Mead Substation Component, and the Mead-Marketplace Component. The City’s participation shares in the components range from 11.76% to 22.73%. The Mead-Phoenix Project in conjunction with the Mead-Adelanto Project provides an alternative path for the City’s purchases from the Palo Verde Nuclear Generating Station, San Juan Generating Station and Hoover Power Plant. These transmission lines also provide access to the southwest U.S. where economical coal energy is readily available. As of June 30, 2025, Glendale’s share is 14.80%.

• The sixth project financed through SCPPA is the Magnolia Power Project (MPP) located on Burbank Water and Power’s generation station complex adjacent to Magnolia Boulevard in Burbank, California. The project consists of a combined cycle natural gas-fired generating plant with a nominally rated net base capacity of 242 megawatts. The City is obligated for 40 megawatts or 16.53% of the project’s output. As of June 30, 2025, Glendale’s generation cost share is 16.53% and indenture cost share is 17.25%.

• The seventh project financed through SCPPA is Natural Gas Prepaid Project (NGPP). In August 2007, the City entered into a 30-year Prepaid Natural Gas Agreement with the SCPPA. The agreement will provide a secure and long-term supply of natural gas up to 3,500 MMBtu per day at a discounted price below a spot market price index. The delivery of natural gas started in July 2008. As of June 30, 2025, Glendale’s share is 23.00%.

• The eighth project financed through SCPPA is the Linden Wind Energy Project (LIN) located in Klickitat County in the state of Washington. The facility is a 50 megawatts capacity wind farm. The 25-year power purchase agreement with SCPPA is for the purchase of 10.00% (approximately 5 megawatts) of the capacity of the project. The City has sold its output entitlement share to Los Angeles Department of Water and Power (LADWP) but remains responsible for all the obligations associated with its participation in the Power Sales Agreements in the event LADWP should default. As of June 30, 2025, Glendale’s share is 10.00%.

• The ninth project financed through SCPPA is the Tieton Hydropower Project (THP) located near the town of Tieton in Yakima County, Washington. The Project has a capacity of approximately 14 megawatts. The Project includes a 115 kV transmission line, approximately 22-miles long, connecting the generating station with PacifiCorp’s Tieton Substation. The Electric Utility is obligated for approximately 6.8 megawatts or 50.00% of the project’s output. As of June 30, 2025, Electric Utility’s share is 50.00%.

• The tenth project financed through SCPPA is Windy Point/Windy Flats project (WP) located in Klickitat County in the state of Washington. The Project has a maximum capacity of approximately 262.2 megawatts. The City Council approved a 20-year power purchase agreement with SCPPA for the purchase of approximately 20 megawatts or 7.63% of the renewable energy output from the Project. The City has sold its output entitlement share to Los Angeles Department of Water and Power (LADWP) but remains responsible for all the obligations associated with its participation in the Power Sales Agreements in the event LADWP should default. As of June 30, 2025, Glendale’s share is 7.63%.

• The eleventh project financed through SCPPA is the Milford II Wind Project (MIL2) located near Beaver and Millard County, Utah. The Project has a capacity of approximately 102 megawatts. The City Council approved a 20-year power purchase agreement with SCPPA for the purchase of approximately 5 megawatts or 4.90% of the Project’s output. The City has sold its output entitlement share to Los Angeles Department of Water and

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Power (LADWP) but remains responsible for all the obligations associated with its participation in the Power Sales Agreements in the event LADWP should default. As of June 30, 2025, Glendale’s share is 4.90%.

Take-or-Pay commitments expire upon contract expiration date or final maturity of outstanding bonds for each project, whichever is later. Final fiscal year contract expirations are as follows:

Project
Contract
Expiration
Date

Glendale’s
Share
Intermountain Power Project (IPP) * 2027 2.04%
Palo Verde Project (PV) 2030 4.40%
Southern Transmission System (STS) 2027 2.27%
Mead-Adelanto Project (MA) 2030 11.04%
Mead-Phoenix Project (MP) 2030 14.80%
Magnolia Power Project (MPP) 2036 17.25%
Natural Gas Prepaid Project (NGPP) 2035 23.00%
Linden Wind Energy Project (LIN) 2035 10.00%
Tieton Hydropower Project (THP) 2040 50.00%
Windy Point/Windy Flats Project (WP) 2034 7.63%
Milford II Wind Project (MIL2) 2031 4.90%

*IPP debt service share

A summary of the City’s “Take or Pay” debt service commitment and the final maturity date as of June 30, 2025:

Fiscal Year IPP * STS * MPP NGPP LIN THP WP MIL2 Total 2026 $ 1,850 4,083 3,388 6,043 373 2,130 2,190 495 20,552 2027 2,992 4,231 3,418 6,054 374 1,232 2,189 494 20,984 2028 2,990 4,405 3,448 6,334 374 1,233 2,187 494 21,465 2029 5,999 4,346 3,478 6,622 374 1,230 2,184 493 24,726 2030 5,996 4,541 3,512 6,803 373 1,230 2,182 493 25,130 2031 – 2035 29,925 22,678 18,096 33,689 1,869 6,134 2,178 983 115,552 2036 – 2040 29,825 22,950 10,164 4,233 7,849 6,117 - - 81,138 2041 – 2045 29,669 22,553 - - - 1,225 - - 53,447 2046 – 2050 5,911 22,457 - - - - - - 28,368 2051 - 2055 - 17,882 - - - - - - 17,882 Total $ 115,157 130,126 45,504 69,778 11,586 20,531 13,110 3,452 409,244

*IPP Repowering and STS Renewal

In addition to debt service, the City’s entitlement requires payment for fuel costs, operating and maintenance (O&M), administrative and general (A&G), and other miscellaneous costs associated with the generation and transmission facilities discussed above. These costs do not have a similar structured payment schedule as debt service and vary each year. The costs incurred for fiscal year 2025 and 2024 are as follows:

Fiscal
Year IPP PV STS SJ MA MP MPP NGPP LIN THP WP MIL2 Total 2025 $8,450 3,234 1,147 60 523 236 8,245 2,068 - 1,373 - - 25,336 2024 $4,860 2,961 701 776 468 135 6,499 3,738 - 1,088 - - 21,226

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NOTE 14 – PRONOUNCEMENTS ISSUED BUT NOT YET IMPLEMENTED

The Governmental Accounting Standards Board (GASB) has issued several pronouncements that may impact future financial presentations. Management has not currently determined what, if any, impact implementation of the following statements may have on the financial statements of the City.

• GASB Statement No. 103 – Financial Reporting Model Improvements. The objective of this statement is to improve key components of the financial reporting model to enhance its effectiveness in providing information that is essential for decision making and assessing a government’s accountability. This statement is effective for fiscal years beginning after June 15, 2025 (FY 2025-26).

• GASB Statement No. 104 – Disclosure of Certain Capital Assets. The objective of this statement is to provide users of governmental financial statement with essential information about certain types of capital assets. This statement is effective for fiscal years beginning after June 15, 2025 (FY 2025-26).

NOTE 15 – IMPLEMENTATION OF PRONOUNCEMENTS

The city has adopted and implemented, where applicable, the following GASB Statements during the year ended June 30, 2025:

• GASB Statement No. 101 – Compensated Absences. The objective of this statement is to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences. That objective is achieved by aligning the recognition and measurement guidance under a unified model and by amending certain previously required disclosures. This statement is effective for fiscal years beginning after December 15, 2023. The implementation of this statement restated the beginning net position of Compensated Absences Fund by $13,492.

• GASB Statement No. 102 – Certain Risk Disclosures. The objective of this statement is to provide users of government financial statements with essential information about risks related to a government’s vulnerabilities due to certain concentrations or constraints. This statement is effective for fiscal years beginning after June 15, 2024.

NOTE 16 – SUBSEQUENT EVENTS

The Electric utility of Glendale Water & Power issued new Electric Revenue Bonds, 2025 Series in the amount of $168,235 in July 2025 to provide money for the further development and construction of the Grayson Repowering project, Scholl Canyon Landfill Biogas Renewal Generation project and other electric system capital improvements.

In June 2025, the City Council authorized a 30-year Power Sales Agreement (PSA) with SCPPA for the purchase of 25 megawatts of renewable solar energy and environmental attributes from Milford Solar II Project. The project is located in Beaver County, Utah, and the energy will be delivered at the Intermountain Power Project switchyard. The anticipated commercial operation date is December 2026.

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NOTE 17 – RESTATEMENT
Effective July 1, 2024, the City implemented GASB Statement No. 101, Compensated Absences. This statement updated the recognition and measurement guidance for compensated absences and associated salary-related payments and amended certain previously required disclosures. As a result of the implementation of this standard, the compensated absences liability as of July 1, 2024 was understated by $7,690 in the Governmental activities, $5,802 in the Business-type activities and $13,492 in the Compensated Absences Fund. The effect of the implementation of this standard is shown in the table below.

Governmental
Activities

B
usiness-type
Activities
Compensated
A
bsences
Fund
B
eginning net position, as previously reported $ 1,
106,990 747,600 (
224)
Change in Accounting Principle (7, 690) (5,802) (13,492) Beginning net position, as restated $ 1,099,300 741,798 (13,716) 104
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Required Supplementary Information
Last Ten Fiscal Years
(in thousands)
2025 2024 2023 2022 2021
Total pension liability
Service cost $ 18,651 18,229 18,657 17,002 16,683
Interest on the total pension liability 92,739 89,862 86,698 85,712 83,093 Changes of benefit terms - 1,164 - - - Differences between expected and actual
experience 3,727 6,458 (19,997) (2,379) 3,355 Changes of assumptions - - 37,616 - - Benefit payments, including refunds of
employee contributions (72,044) (68,623) (65,188) (61,690) (60,158) Net change in total pension liability 43,073 47,090 57,786 38,645 42,973 Total pension liability - beginning 1,367,016 1,319,926 1,262,140 1,223,495 1,180,522 Total pension liability - ending (A) 1,410,089 1,367,016 1,319,926 1,262,140 1,223,495 Plan fiduciary net position
Plan to plan resource movement - 4 - - (8) Contributions from the employer 37,998 38,403 38,620 36,495 29,257 Contributions from employees 10,084 10,570 10,491 11,011 11,249 Net investment income 97,851 60,946 (81,807) 202,381 43,263 Benefit payments, including refunds of
employee contributions (72,044) (68,623) (65,188) (61,690) (60,158) Administrative expense (834) (723) (675) (895) (1,232) Other miscellaneous income/(expense) - - - - - Net change in fiduciary net position 73,055 40,577 (98,559) 187,302 22,371 Plan fiduciary net position - beginning 1,025,454 984,877 1,083,436 896,134 873,763 Plan fiduciary net position - ending (B) 1,098,509 1,025,454 984,877 1,083,436 896,134 Net pension liability - ending (A) - (B) $ 311,580 341,562 335,049 178,704 327,361 Plan fiduciary net position
as a percentage of the total pension liability 77.90% 75.01% 74.62% 85.84% 73.24% Covered payroll $ 102,867 99,665 101,450 101,565 99,009 Net pension liability as a percentage of covered
payroll 302.90% 342.71% 330.26% 175.95% 330.64%
Measurement date June 30, 2024 June 30, 2023 June 30, 2022 June 30, 2021 June 30, 2020 Schedule of Changes in Net Pension Liability and Related Ratios - Miscellaneous Plan Fiscal Year

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CITY OF GLENDALE
Required Supplementary Information
Last Ten Fiscal Years
(in thousands)
Schedule of Changes in Net Pension Liability and Related Ratios - Miscellaneous Plan 2020 2019 2018 2017 2016
Total pension liability
Service cost $ 16,372 15,956 15,513 13,413 14,372 Interest on the total pension liability 80,133 76,746 74,508 73,104 71,411 Changes of benefit terms - - - - - Differences between expected and actual
experience 10,478 1,240 (11,313) (12,487) (8,835) Changes of assumptions - (6,403) 62,163 - (17,578) Benefit payments, including refunds of
employee contributions (57,071) (54,969) (52,599) (51,297) (50,059) Net change in total pension liability 49,912 32,570 88,272 22,733 9,311 Total pension liability - beginning 1,130,610 1,098,040 1,009,768 987,035 977,724 Total pension liability - ending (A) 1,180,522 1,130,610 1,098,040 1,009,768 987,035 Plan fiduciary net position
Plan to plan resource movement - (2) 2 - (25) Contributions from the employer 24,992 22,006 18,558 16,517 13,344 Contributions from employees 10,176 8,996 8,518 8,092 8,142 Net investment income 54,849 67,307 82,439 3,709 17,215 Benefit payments, including refunds of
employee contributions (57,071) (54,969) (52,599) (51,297) (50,059) Administrative expense (600) (1,249) (1,101) (469) (881) Other miscellaneous income/(expense) 2 (2,372) - - - Net change in fiduciary net position 32,348 39,717 55,817 (23,448) (12,264) Plan fiduciary net position - beginning 841,415 801,698 745,881 769,329 781,593 Plan fiduciary net position - ending (B) 873,763 841,415 801,698 745,881 769,329 Net pension liability - ending (A) - (B) $ 306,759 289,195 296,342 263,887 217,706 Plan fiduciary net position
as a percentage of the total pension liability 74.01% 74.42% 73.01% 73.87% 77.94% Covered payroll $ 95,277 92,799 90,627 86,558 91,786 Net pension liability as a percentage of covered
payroll 321.97% 311.64% 326.99% 304.87% 237.19%
Measurement date June 30, 2019 June 30, 2018 June 30, 2017 June 30, 2016 June 30, 2015 Fiscal Year

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CITY OF GLENDALE
Required Supplementary Information
Last Ten Fiscal Years
(in thousands)
Schedule of Changes in Net Pension Liability and Related Ratios - Safety Plan 2025 2024 2023 2022 2021
Total pension liability
Service cost $ 18,192 17,724 17,490 15,510 15,682 Interest on the total pension liability 72,463 69,808 66,942 64,856 62,988 Change of benefit terms - 322 - - - Differences between expected and actual
experience 4,655 8,009 (2,699) (5,898) 5,391 Changes of assumptions - - 33,196 - - Benefit payments, including refunds of
employee contributions (54,977) (52,900) (49,777) (47,743) (45,366) Net change in total pension liability 40,333 42,963 65,152 26,725 38,695 Total pension liability - beginning 1,063,930 1,020,967 955,815 929,090 890,395 Total pension liability - ending (A) 1,104,263 1,063,930 1,020,967 955,815 929,090 Plan fiduciary net position
Plan to plan resource movement - (4) - - 8 Contributions from the employer 37,093 35,617 35,100 33,085 28,464 Contributions from employees 6,385 5,881 5,499 5,285 5,116 Net investment income 68,030 42,059 (56,694) 139,596 29,762 Benefit payments, including refunds of
employee contributions (54,977) (52,900) (49,777) (47,743) (45,366) Administrative expense (577) (500) (465) (615) (844) Other miscellaneous income/(expense) - - - - - Net change in fiduciary net position 55,954 30,153 (66,337) 129,608 17,140 Plan fiduciary net position - beginning 709,519 679,366 745,703 616,095 598,955 Plan fiduciary net position - ending (B) 765,473 709,519 679,366 745,703 616,095 Net pension liability - ending (A) - (B) $ 338,790 354,411 341,601 210,112 312,995 Plan fiduciary net position
as a percentage of the total pension liability 69.32% 66.69% 66.54% 78.02% 66.31% Covered payroll $ 57,586 55,911 54,640 53,408 53,105 Net pension liability as a percentage of covered
payroll 588.32% 633.88% 625.18% 393.41% 589.39%
Measurement date June 30, 2024 June 30, 2023 June 30, 2022 June 30, 2021 June 30, 2020 Fiscal Year

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CITY OF GLENDALE
Required Supplementary Information
Last Ten Fiscal Years
(in thousands)
Schedule of Changes in Net Pension Liability and Related Ratios - Safety Plan 2020 2019 2018 2017 2016
Total pension liability
Service cost $ 15,196 14,872 14,641 12,975 13,038 Interest on the total pension liability 60,331 57,734 56,003 54,489 52,434 Change of benefit terms - - - - - Differences between expected and actual
experience 4,900 (3,943) (7,654) (3,055) (5,684) Changes of assumptions - (3,509) 47,703 - (13,128) Benefit payments, including refunds of
employee contributions (42,663) (40,017) (38,186) (36,522) (34,522) Net change in total pension liability 37,764 25,137 72,507 27,887 12,138 Total pension liability - beginning 852,631 827,494 754,987 727,100 714,962 Total pension liability - ending (A) 890,395 852,631 827,494 754,987 727,100 Plan fiduciary net position
Plan to plan resource movement - (1) (2) - - Contributions from the employer 25,371 22,548 19,843 18,266 16,789 Contributions from employees 5,008 4,602 4,305 4,517 4,394 Net investment income 37,580 45,731 55,289 2,584 11,489 Benefit payments, including refunds of
employee contributions (42,663) (40,017) (38,186) (36,522) (34,522) Administrative expense (410) (847) (743) (314) (579) Other miscellaneous income/(expense) 1 (1,609) - - - Net change in fiduciary net position 24,887 30,407 40,506 (11,469) (2,429) Plan fiduciary net position - beginning 574,068 543,661 503,155 514,624 517,053 Plan fiduciary net position - ending (B) 598,955 574,068 543,661 503,155 514,624 Net pension liability - ending (A) - (B) $ 291,440 278,563 283,833 251,832 212,476 Plan fiduciary net position
as a percentage of the total pension liability 67.27% 67.33% 65.70% 66.64% 70.78% Covered payroll $ 51,155 49,624 48,322 48,245 48,174 Net pension liability as a percentage of covered
payroll 569.72% 561.35% 587.38% 521.99% 441.06%
Measurement date June 30, 2019 June 30, 2018 June 30, 2017 June 30, 2016 June 30, 2015 Fiscal Year

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CITY OF GLENDALE
Required Supplementary Information
Last Ten Fiscal Years
(in thousands)
Schedule of Pension Plan Contributions - Miscellaneous Plan 2025 2024 2023 2022 2021
Actuarially determined contributions $ 43,104 38,268 38,126 35,174 32,308 Contributions in relation to the actuarially
determined contribution (43,104) (38,268) (38,126) (38,613) (32,308) Contribution deficiency (excess) - - - (3,439) - Covered payroll $ 116,870 102,867 99,665 101,450 101,565 Contributions as a percentage of covered payroll 36.882% 37.201% 38.254% 34.671% 31.810% Notes to Schedule:

Valuation Date June 30, 2022 June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 Methods and assumptions used to determine
contribution rates:

Actuarial cost method Entry age Entry age Entry age Entry age Entry age Amortization method Level dollar
amount
Level dollar
amount
Level dollar
amount
Level dollar
amount
Level percent
of Payroll
Asset valuation method Fair value Fair value Fair value Market value Market value Discount rate 6.8%
(net of
investment &
admin exp)

6.8%
(net of
investment &
admin exp)
7%
(net of
investment &
admin exp)
7%
(net of
investment &
admin exp)
7%
(net of
investment &
admin exp)
Projected salary increases

0.2% to

7.64%
depending on
age, service,
and type of
employment

0.2% to

7.64%
depending on
age, service,
and type of
employment

0.4% to 8.5%
depending on
category,
entry age, and
duration of
service

0.4% to 8.5%
depending on
age, service,
and type of
employment

0.4% to 8.5%
depending on
age, service,
and type of
employment
Inflation 2.30% 2.30% 2.50% 2.50% 2.50%
Payroll growth 2.80% 2.80% 2.75% 2.75% 2.75%
Retirement age 59 59 59 59 59
Fiscal Year

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CITY OF GLENDALE
Required Supplementary Information
Last Ten Fiscal Years
(in thousands)
Schedule of Pension Plan Contributions - Miscellaneous Plan 2020 2019 2018 2017 2016
Actuarially determined contributions $ 29,240 27,791 23,741 18,972 16,519 Contributions in relation to the actuarially
determined contribution (29,240) (27,791) (23,741) (18,972) (16,519) Contribution deficiency (excess) - - - - - Covered payroll $ 99,009 95,277 92,799 90,627 86,558 Contributions as a percentage of covered payroll 29.533% 29.169% 25.583% 20.934% 19.084% Notes to Schedule:

Valuation Date June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 June 30, 2013 Methods and assumptions used to determine
contribution rates:

Actuarial cost method Entry age Entry age Entry age Entry age Entry age Amortization method Level percent
of Payroll
Level percent
of Payroll
Level percent
of Payroll
Level percent
of Payroll
Level percent
of Payroll
Asset valuation method Market value Market value Market value Market value Market value Discount rate 7.25%
(net of
investment &
admin exp)

7.375%
(net of
investment &
admin exp)

7.50%
(net of
admin exp)

7.50%
(net of
admin exp)
Projected salary increases

0.4% to 8.5%
depending on
age, service,
and type of
employment

3.2% to

12.2%
depending on
age, service,
and type of
employment

3.2% to

12.2%
depending on
age, service,
and type of
employment

3.2% to

12.2%
depending on
age, service,
and type of
employment

3.3% to

14.2%
depending on
age, service,
and type of
employment
Inflation 2.625% 2.75% 2.75% 2.75% 2.75%
Payroll growth 2.875% 3.00% 3.00% 3.00% 3.00%
Retirement age 59 59 59 59 59
Fiscal Year

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CITY OF GLENDALE
Required Supplementary Information
Last Ten Fiscal Years
(in thousands)
Schedule of Pension Plan Contributions - Safety Plan
2025 2024 2023 2022 2021
Actuarially determined contributions $ 41,232 37,546 35,210 33,879 31,033 Contributions in relation to the actuarially
determined contribution (41,232) (37,546) (35,210) (35,103) (31,033) Contribution deficiency (excess) - - - (1,224) - Covered payroll $ 65,868 57,586 55,911 54,640 53,408 Contributions as a percentage of covered payroll 62.598% 65.200% 62.975% 62.004% 58.106% Notes to Schedule:

Valuation Date June 30, 2022 June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 Methods and assumptions used to determine
contribution rates:

6.8%
(net of
investment &
admin exp)
7%
(net of
investment &
admin exp)
7%
(net of
investment &
admin exp)
7%
(net of
investment &
admin exp)
Projected salary increases

0.82% to

15.49%
depending on
age, service,
and type of
employment

1.32% to

15.17%
depending on
age, service,
and type of
employment

0.97% to 17%
depending on
category,
entry age, and
duration of
service

0.97% to 17%
depending on
age, service,
and type of
employment

0.97% to 17%
depending on
age, service,
and type of
employment
Inflation 2.30% 2.30% 2.50% 2.50% 2.50%
Payroll growth 2.80% 2.80% 2.75% 2.75% 2.75%
Retirement age 54 54 54 54 54
Fiscal Year

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CITY OF GLENDALE
Required Supplementary Information
Last Ten Fiscal Years
(in thousands)
Schedule of Pension Plan Contributions - Safety Plan
2020 2019 2018 2017 2016
Actuarially determined contributions $ 28,471 25,487 22,470 19,984 18,257 Contributions in relation to the actuarially
determined contribution (28,471) (25,487) (22,470) (19,984) (18,257) Contribution deficiency (excess) - - - - - Covered payroll $ 53,105 51,155 49,624 48,322 48,245 Contributions as a percentage of covered payroll 53.613% 49.823% 45.281% 41.356% 37.842% Notes to Schedule:

Valuation Date June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 June 30, 2013 Methods and assumptions used to determine
contribution rates:

7.375%
(net of
investment &
admin exp)

7.50%
(net of
admin exp)

7.50%
(net of
admin exp)
Projected salary increases

0.97% to 17%
depending on
age, service,
and type of
employment

3.4% to

20.0%
depending on
age, service,
and type of
employment

3.4% to

20.0%
depending on
age, service,
and type of
employment

3.4% to

20.0%
depending on
age, service,
and type of
employment

3.3% to

14.2%
depending on
age, service,
and type of
employment
Inflation 2.625% 2.75% 2.75% 2.75% 2.75%
Payroll growth 2.875% 3.00% 3.00% 3.00% 3.00%
Retirement age 54 54 54 54 54
Fiscal Year

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CITY OF GLENDALE
Required Supplementary Information
Last Ten Fiscal Years
(in thousands)
Schedule of Changes in Total OPEB Liability and Related Ratios 2025 2024 2023 2022
Total OPEB liability
Service cost $ 15 26 43 46 Interest on the total OPEB liability 296 432 319 400 Changes of assumptions (246) (1,633) (2,420) (520) Actual vs. expected experience - (2,444) - (2,760) Benefit payments (460) (509) (530) (372) Net change in total OPEB liability (395) (4,128) (2,588) (3,206) Total OPEB liability - beginning 8,299 12,427 15,015 18,221 Total OPEB liability - ending 7,904 8,299 12,427 15,015 Covered-employee payroll $ 181,556 172,125 168,994 169,684 Total OPEB liability as a percentage
of covered employee payroll 4.35% 4.82% 7.35% 8.85%
Measurement date June 30, 2024 June 30, 2023 June 30, 2022 June 30, 2021 Notes:
(1) FY 2018 is the first year of implementation of GASB 75; therefore, only eight years of data is shown. (2) There are no assets accumulated in a trust that meets the criteria of GASB codification P22.101 or P52.101 to pay related benefits for the OPEB plan.

Fiscal Year

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CITY OF GLENDALE
Required Supplementary Information
Last Ten Fiscal Years
(in thousands)
Schedule of Changes in Total OPEB Liability and Related Ratios 2021 2020 2019 2018
Total OPEB liability
Service cost $ 38 44 46 57
Interest on the total OPEB liability 524 582 556 493 Changes of assumptions 2,947 543 (619) (1,790)
Actual vs. expected experience - (772) - -
Benefit payments (423) (476) (507) (487)
Net change in total OPEB liability 3,086 (79) (524) (1,727) Total OPEB liability - beginning 15,135 15,214 15,738 17,465 Total OPEB liability - ending 18,221 15,135 15,214 15,738 Covered-employee payroll $ 16 5,230 1 60,653 1 56,117 1 50,107 Total OPEB liability as a percentage
of covered employee payroll 11.03% 9.42% 9.75% 10.48%
Measurement date June 30, 2020 June 30, 2019 June 30, 2018 June 30, 2017 Notes:
(1) FY 2018 is the first year of implementation of GASB 75; therefore, only eight years of data is shown. (2) There are no assets accumulated in a trust that meets the criteria of GASB codification P22.101 or P52.101 to pay related benefits for the OPEB plan.

Fiscal Year
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317 of 572

Exhibit G-1
Special Revenue
Funds Debt Service Fund
Capital Projects
Funds
Total Nonmajor
Governmental
Funds
ASSETS
Pooled cash and investments 133,355$ 7,792$ 123,324$ 264,471$ Restricted cash and investments - - 62,563 62,563 Leases receivable 203 - - 203 Accounts receivable, net 24,084 - 12,775 36,859 Interest receivable 182 - 364 546 Loans receivable 6,837 - - 6,837 Prepaid items 161 - - 161 Total assets 164,822 7,792 199,026 371,640

LIABILITIES
Accounts payable 9,864 - 4,132 13,996 Deposits 117 - - 117 Due to other funds 8,420 - 72 8,492 Unearned revenues 16,866 - 10,730 27,596 Wages and benefits payable 679 - 20 699 Total liabilities 35,946 - 14,954 50,900

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases 189 - - 189 Unavailable revenues 22,919 - 6,314 29,233 Total deferred inflows of resources 23,108 - 6,314 29,422 Total liabilities and deferred inflows of
resources 59,054 - 21,268 80,322

FUND BALANCES (DEFICITS)
Nonspendable
Prepaid 161 - - 161 Restricted
Air quality improvement 1,467 - - 1,467 Cable access 5,113 - - 5,113 Capital projects - - 66,796 66,796 Electric public benefit AB1890 18,023 - - 18,023 Federal and state grants 4,051 - - 4,051 Impact fee funded projects - - 26,052 26,052 Landfill postclosure - - 62,563 62,563 Landscaping district 253 - - 253 Low and moderate housing 5,265 - - 5,265 Public safety 4,696 - - 4,696 Public works 4,573 - - 4,573 State gas tax mandates - - 26,354 26,354 Transportation 63,248 - - 63,248 Urban art 9,377 - - 9,377 Committed
Capital projects - - 2,307 2,307 Debt service - 7,792 - 7,792 Hazardous materials 4,708 - - 4,708 Unassigned (15,167) - (6,314) (21,481) Total fund balances (deficits) 105,768 7,792 177,758 291,318 Total liabilities, deferred inflows of resources
and fund balances (deficits) 164,822$ 7,792$ 199,026$ 371,640$ (amounts expressed in thousands)

CITY OF GLENDALE
Combining Governmental Balance Sheet
Nonmajor Governmental Funds
June 30, 2025

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Exhibit G-2
Special Revenue
Funds
Debt Service
Fund
Capital Projects
Funds
Total Nonmajor
Governmental
Funds

REVENUES
Revenue from other agencies 45,332$ -$ 22,453$ 67,785$ Licenses and permits 1, 801 - 910 2, 711
Fines and forfeitures 4,224 - - 4, 224
Charges for services 3 2,210 - - 32,210
Miscellaneous revenue 93 0 - - 93 0
Use of money and property 4 ,728 244 7 ,225 12,197 Total revenues 89 ,225 24 4 30,588 120,057

EXPENDITURES
Current:

General government
4 0 - - 40
Police 2,365 6 - 2, 371
Fire 4,338 - - 4, 338
Public works 15,101 - 2,619 17,720
Transportation 26,290 - - 26,290
Housing, health and community development 1 1,039 - 845 11,884 Employment programs 8, 605 - - 8, 605
Public service 7,349 - - 7, 349
Parks, recreation and community services 1, 616 - 2,506 4,122 Library, arts and culture 2, 517 - 211 2, 728
Debt service:

Principal retirement - Bonds - 2,230 - 2, 230
Interest - Bonds - 7 59 - 75 9
Principal retirement - Leases 84 7 - - 84 7
Interest - Leases 22 - - 22
Capital outlay:

Capital outlay 1 3,214 - 23,104 36,318
Total expenditures 93 ,343 2, 995 29,285 125,623 Excess (deficiency) of revenues over
(under) expenditures (4,118) (2, 751) 1,303 (5, 566)

OTHER FINANCING SOURCES (USES)
Transfers in 133 1,500 - 1, 633
Transfers out (7, 186) - - (7, 186)
Leases and subscriptions 32 0 - - 32 0
Total other financing sources (uses) (6, 733) 1 ,500 - (5, 233) Net change in fund balances (1 0,851) (1, 251) 1,303 (10,799) Fund balances - beginning 11 6,619 9 ,043 176,455 302,117 Fund balances - ending 105,768$ 7,792$ 177,758$ 291,318$ (amounts expressed in thousands)

CITY OF GLENDALE
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
116
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SPECIAL REVENUE FUNDS

 2010 - CDBG Fund - To account for monies received and expended by the City as a participant in the Federal Community Development Block Grant (CDBG) Program.

 2030 - Home Grant Fund - To account for monies received and expended by the City under the HOME Investment Partnerships Program to strengthen public-private partnerships and to preserve and provide affordable housing.

 2040 - Continuum of Care Grant Fund - To account for monies received and expended by the City under the Continuum of Care Grant Program to address the homeless needs of the City.

 2050 - Emergency Solutions Grant Fund - To account for monies received and expended by the City under the Emergency Solutions Grant Program to address the homeless needs of the City.

 2060 - Workforce Fund - To account for monies received and expended for the federal, state and local-funded job training programs.

 2090 - Affordable Housing Trust Fund - To account for monies received from inclusionary housing fees in the San Fernando Road Corridor Redevelopment Project Area, from affordable housing density bonus fees and miscellaneous program income, and expended for affordable housing development, monitoring, and administration.

 2100 - Urban Art Fund - To account for the art fees collected from the City developments that are restricted to support the public art installation and maintenance, in accordance with the City’s Urban Art Program Guidelines.

 2110 - Glendale Youth Alliance Fund - To account for monies received and expended in the youth employment programs.

 2120 - BEGIN Affordable Homeownership Fund - To account for monies received and expended by the City under the Building Equity and Growth in Neighborhoods (BEGIN) grant to provide down payment assistance or homeowner rehabilitation loans to low and moderate income homebuyers

 2130 - Low & Moderate Income Housing Asset Fund - To account for monies received and expended for low and moderate income housing activities pursuant to AB1484.

 2160 - Grant Fund - To account for miscellaneous grant monies received and expended by the City that are not accounted for in other specific grant funds.

 2190 - Hazardous Disposal Fund - To account for the revenues from hazardous permits and waste disposal fees that are committed to recycle household hazardous waste, in order to divert this waste from landfill.

 2210 - Parking Fund - To account for the parking revenues collected from the operations of City owned public parking lots and garages that are committed to operate City owned parking structures, public parking lots and the administration of the residential preferential parking program.

 2220 - Measure M Local Return Fund - To account for monies received from the ½ cent sales tax increase approved in November 2016 by Los Angeles County voters and the related transportation and traffic congestion expenses for the Measure M Local Return Program.

 2230 - Measure M Subregional Fund - To account for monies received from the ½ cent sales tax increase approved in November 2016 by Los Angeles County voters and the related transportation and traffic congestion expenses for Measure M Multi-Year Subregional Programs.

 2240 - Measure H Fund - To account for monies received from the ¼ cent sales tax increase approved in March 2017 by Los Angeles County voters and the related homeless services and prevention expenses.

 2250 - 2011 TABs Housing Fund - To account for housing project expenses funded by the Glendale Successor Agency 2011 Tax Allocation Bonds.

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 2260 - Measure W Fund – To account for monies received from the 2.5 cents per SF of impermeable area Los Angeles County Flood Control District parcel tax for stormwater management.

 2280 - Permanent Local Housing Allocation Fund – PLHA fund accounts for monies received and expended by the City under the Permanent Local Housing Allocation Program, a State of California funded program created to provide an ongoing source of funding to local governments for housing-related projects and programs that assist in addressing the unmet housing needs of their local communities.

 2510 - Air Quality Improvement Fund - To account for monies received from South Coast Air Quality Management District and expended on air pollution reduction.

 2520 - PW Special Grants Fund - To account for various grants received and expended by the City in the Public Works (PW) department.

 2530 - San Fernando Landscape District Fund - To account for assessments and expenditures associated with the San Fernando Road Corridor (SFRC) Landscape & Maintenance District Project.

 2540 - Measure R Local Return Fund - To account for monies received from the ½ cent sales tax increase approved in November 2008 by Los Angeles County voters, and the related transportation and street expenses.

 2550 - Measure R Regional Return Fund - To account for monies received from the various grants that are funded by the Measure R, which is the ½ cent sales tax increase approved in November 2008 by Los Angeles County voters, and the related transportation and street project expenses.

 2560 - Transit Prop A Local Return Fund - To account for monies received from a portion of the sales tax via Prop A which is restricted to transportation-related activities.

 2570 - Transit Prop C Local Return Fund - To account for monies received from a portion of the sales tax via Prop C which is restricted to transportation-related activities.

 2580 - Transit Utility Fund - To capture the revenues and expenses associated with the operation of fixed route and demand response transit services for reporting to state and federal regulators.

 2600 - Asset Forfeiture Fund - To account for the proceeds of money or property seized as a result of illegal activity which is restricted to law enforcement uses.

 2610 - Police Fund - To account for the various grants, donations and other funding sources received and expended by the City for the Police programs.

 2620 - Supplemental Law Enforcement Fund - To account for monies received from the State of California to provide funding for local agencies for the Citizen’s Option for Public Safety (COPS) program.

 2650 - Fire Grant Fund - To account for grant monies received and expended for fire prevention programs.

 2660 - Fire Mutual Aid Fund - To account for the reimbursements received from either the Federal government or the State of California that are committed for the City’s fire strike team labor costs, fire equipment charges as well as overhead costs incurred by the City in assisting fire incidents outside of the City’s jurisdiction.

 2700 - Nutritional Meals Grant Fund - To account for monies received from Federal assistance programs for senior citizen services.

 2750 - Library Fund - To account for the various grants, donations, and other library fees that are restricted for library services.

 2800 - Cable Access Fund - To account for the cable access fee that is restricted to provide for resources to broadcast the City Council meetings and other various commissions, forums, etc.

 2910 - Electric Public Benefit Fund - To account for the fee assessed on the electric customers to fund public benefit programs such as low-income projects, research and development and demonstration program as mandated by State of California, AB 1890.

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Exhibit H-1
CDBG
Fund
2010
Home Grant
Fund
2030
Continuum of Care
Grant
Fund
2040
Emergency
Solutions Grant
Fund
2050
ASSETS
Pooled cash and investments -$ -$ -$ -$
Leases receivable - - - -
Accounts receivable, net 577 2,053 4 30 80
Interest receivable - - - -
Loans receivable 97 172 - -
Prepaid items - - 7 2 -
Total assets 674 2,225 5 02 80

LIABILITIES
Accounts payable
186 1,067 4 70 43
Deposits - - - -
Due to other funds 3 96 704 26 0 37
Unearned revenues - - 1 -
Wages and benefits payable 16 1 8 18 -
Total liabilities 5 98 1,789 7 49 80

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases - - - - Unavailable revenues
135 917 10 4 -
Total deferred inflows of resources 1 35 917 10 4 - Total liabilities and deferred inflows of
resources 733 2,706 8 53 80

FUND BALANCES (DEFICITS)
Nonspendable
Prepaid - - 7 2 -
Restricted
Air quality improvement - - - -
Cable access - - - -
Electric public benefit AB1890 - - - -
Federal and state grants - - - -
Landscaping district - - - -
Low and moderate housing - - - -
Public safety - - - -
Public works - - - -
Transportation - - - -
Urban art - - - -
Committed
Hazardous materials - - - -
Unassigned (59) ( 481) (423) -
Total fund balances (deficits) (59) ( 481) (351) - Total liabilities and fund balances (deficits) 674$ 2,225$ 502$ 80$

CITY OF GLENDALE
Combining Balance Sheet
Nonmajor Special Revenue Funds
June 30, 2025
(amounts expressed in thousands)
(Continued)

119
323 of 572

Exhibit H-1
ASSETS
Pooled cash and investments
Leases receivable
Accounts receivable, net
Interest receivable
Loans receivable
Prepaid items
Total assets

LIABILITIES
Accounts payable
Deposits
Due to other funds
Unearned revenues
Wages and benefits payable
Total liabilities

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
Unavailable revenues
Total deferred inflows of resources
Total liabilities and deferred inflows of
resources

FUND BALANCES (DEFICITS)
Nonspendable
Prepaid
Restricted
Air quality improvement
Cable access
Electric public benefit AB1890
Federal and state grants
Landscaping district
Low and moderate housing
Public safety
Public works
Transportation
Urban art
Committed
Hazardous materials
Unassigned
Total fund balances (deficits)
Total liabilities and fund balances (deficits)

CITY OF GLENDALE
Combining Balance Sheet
Nonmajor Special Revenue Funds
June 30, 2025
(amounts expressed in thousands)
Workforce
Fund
2060
Affordable
Housing Trust
Fund
2090
Urban Art
Fund
2100
Glendale Youth
Alliance
Fund
2110
2,846$ 1,191$ 9,519$ -$
- - - -
2,320 - - 234
- - - -
- - - -
- - - -
5,166 1,191 9, 519 234
785 - 1 42 1
- - - -
- - - 92
241 - - -
136 4 - 141
1,162 4 142 2 34
- - - -
300 - - -
300 - - -
1,462 4 142 2 34
- - - -
- - - -
- - - -
- - - -
3,704 - - -
- - - -
- 1, 187 - -
- - - -
- - - -
- - - -
- - 9,377 -
- - - -
- - - -
3,704 1,187 9, 377 -
5,166$ 1,191$ 9,519$ 234$
(Continued)

120
324 of 572

Exhibit H-1
ASSETS
Pooled cash and investments
Leases receivable
Accounts receivable, net
Interest receivable
Loans receivable
Prepaid items
Total assets

LIABILITIES
Accounts payable
Deposits
Due to other funds
Unearned revenues
Wages and benefits payable
Total liabilities

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
Unavailable revenues
Total deferred inflows of resources
Total liabilities and deferred inflows of
resources

CITY OF GLENDALE
Combining Balance Sheet
Nonmajor Special Revenue Funds
June 30, 2025
(amounts expressed in thousands)
BEGIN
Affordable
Homeownership
Fund
2120
Low & Moderate
Income
Housing Asset
Fund
2130
Grant
Fund
2160
Hazardous
Disposal
Fund
2190
126$ 3,863$ 4,706$ 4,380$
- - - -
- -
4 ,540 1 ,159
- - - 3 0
5,796 7 72 - -
- - - -
5,922 4,635 9, 246 5 ,569
- 2 0 1,479 9 0
- - - -
- - - -
- - 7 ,753 710
- 1 1 13 6 1
- 3 1 9,245 861
- - - -
5,796 7 72 4,491 -
5,796 7 72 4,491 -
5,796 8 03 13,736 861
- - - -
- - - -
- - - -
- - - -
126 - - -
- - - -
- 3 ,832 - -
- - - -
- - - -
- - - -
- - - -
- - - 4 ,708
- - (4 ,490) -
126 3 ,832 (4 ,490) 4,708
5,922$ 4,635$ 9,246$ 5,569$
(Continued)

121
325 of 572

Exhibit H-1
ASSETS
Pooled cash and investments
Leases receivable
Accounts receivable, net
Interest receivable
Loans receivable
Prepaid items
Total assets

LIABILITIES
Accounts payable
Deposits
Due to other funds
Unearned revenues
Wages and benefits payable
Total liabilities

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
Unavailable revenues
Total deferred inflows of resources
Total liabilities and deferred inflows of
resources

CITY OF GLENDALE
Combining Balance Sheet
Nonmajor Special Revenue Funds
June 30, 2025
(amounts expressed in thousands)
Parking
Fund
2210
Measure M Local
Return Fund
2220
Measure M
Subregional
Fund
2230
Measure H Fund
2240
-$ 19,608$ -$ -$
- - - -
- 7 1 972 2 8
- - - -
- - - -
- - - -
- 1 9,679 972 2 8
- 779 16 6 -
- - - -
- - 806 2 6
- - - 2
- 1 9 - -
- 798 97 2 2 8
- - - -
- 1 972 2 8
- 1 972 2 8
- 799 1,944 56
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- 1 8,880 - -
- - - -
- - - -
- - ( 972) (28)
- 1 8,880 (972) (28)
-$ 19,679$ 972$ 28$
(Continued)

122
326 of 572

Exhibit H-1
ASSETS
Pooled cash and investments
Leases receivable
Accounts receivable, net
Interest receivable
Loans receivable
Prepaid items
Total assets

LIABILITIES
Accounts payable
Deposits
Due to other funds
Unearned revenues
Wages and benefits payable
Total liabilities

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
Unavailable revenues
Total deferred inflows of resources
Total liabilities and deferred inflows of
resources

CITY OF GLENDALE
Combining Balance Sheet
Nonmajor Special Revenue Funds
June 30, 2025
(amounts expressed in thousands)
2011 TABs
Housing
Fund
2250
Measure W
Fund
2260
Permanent
Local Housing
Allocation Fund
2280
Air Quality
Improvement
Fund
2510
184$ 4,580$ 71$ 1,430$
- - - -
- - - 66
- - - -
- - - -
- - - -
184 4,580 71 1,496
- - - 29
- - - -
- - - -
- - - -
- 7 9 -
- 7 9 29
- - - -
- - - -
- - - -
- 7 9 29
- - - -
- - - 1,467
- - - -
- - - -
- - - -
- - - -
184 - 62 -
- - - -
- 4,573 - -
- - - -
- - - -
- - - -
- - - -
184 4,573 62 1,467
184$ 4,580$ 71$ 1,496$
(Continued)

123
327 of 572

Exhibit H-1
ASSETS
Pooled cash and investments
Leases receivable
Accounts receivable, net
Interest receivable
Loans receivable
Prepaid items
Total assets

LIABILITIES
Accounts payable
Deposits
Due to other funds
Unearned revenues
Wages and benefits payable
Total liabilities

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
Unavailable revenues
Total deferred inflows of resources
Total liabilities and deferred inflows of
resources

CITY OF GLENDALE
Combining Balance Sheet
Nonmajor Special Revenue Funds
June 30, 2025
(amounts expressed in thousands)
PW Special
Grants
Fund
2520
San Fernando
Landscape
District
Fund
2530
Measure R Local
Return Fund
2540
Measure R
Regional Return
Fund
2550
-$ 268$ 20,299$ -$
- - - -
- 2 -
6, 509
- - - -
- - - -
- - 84 -
- 2 70 20,383 6, 509
- 17 1 32 1 ,223
- - - -
35 - - 5, 110
- - - 1 5
- - - 6 0
35 17 1 32 6 ,408
- - - -
- - - 6, 509
- - - 6, 509
35 17 1 32 12,917
- - 84 -
- - - -
- - - -
- - - -
- - - -
- 2 53 - -
- - - -
- - - -
- - - -
- - 20,167 -
- - - -
- - - -
(35) - - (6 ,408)
(35) 253 20,251 (6,408)
-$ 270$ 20,383$ 6,509$
(Continued)
124
328 of 572

Exhibit H-1
ASSETS
Pooled cash and investments
Leases receivable
Accounts receivable, net
Interest receivable
Loans receivable
Prepaid items
Total assets

LIABILITIES
Accounts payable
Deposits
Due to other funds
Unearned revenues
Wages and benefits payable
Total liabilities

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
Unavailable revenues
Total deferred inflows of resources
Total liabilities and deferred inflows of
resources

CITY OF GLENDALE
Combining Balance Sheet
Nonmajor Special Revenue Funds
June 30, 2025
(amounts expressed in thousands)
Transit Prop A
Local Return
Fund
2560
Transit Prop C
Local Return
Fund
2570
Transit Utility
Fund
2580
Asset Forfeiture
Fund
2600
12,562$ 13,155$ -$ 3,505$
-
1 73 - -
233 16 4 - 1 5
- - - -
- - - -
- - - -
12,795 13,492 - 3 ,520
1,098 788 - 123
- - - -
- - - -
- 1 - -
20 13 - -
1,118 802 - 123
- 1 59 - -
4 3 - 5
4 162 - 5
1,122 964 - 128
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - 3 ,392
- - - -
11,673 12,528 - -
- - - -
- - - -
- - - -
11,673 12,528 - 3 ,392
12,795$ 13,492$ -$ 3,520$
(Continued)

125
329 of 572

Exhibit H-1
ASSETS
Pooled cash and investments
Leases receivable
Accounts receivable, net
Interest receivable
Loans receivable
Prepaid items
Total assets

LIABILITIES
Accounts payable
Deposits
Due to other funds
Unearned revenues
Wages and benefits payable
Total liabilities

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
Unavailable revenues
Total deferred inflows of resources
Total liabilities and deferred inflows of
resources

CITY OF GLENDALE
Combining Balance Sheet
Nonmajor Special Revenue Funds
June 30, 2025
(amounts expressed in thousands)
Police
Fund
2610
Supplemental
Law
Enforcement Fund
2620
Fire Grant
Fund
2650
1,481$ 1,327$ -$
- - -
850 - 3 59
- - -
- - -
- - -
2,331 1,327 3 59
19 - -
117 - -
- - 2 90
2,145 - 1 1
50 23 -
2,331 2 3 3 01
- - -
485 - 1 95
485 - 1 95
2,816 2 3 4 96
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- 1 ,304 -
- - -
- - -
- - -
- - -
(485) - ( 137)
(485) 1, 304 (137)
2,331$ 1,327$ 359$
(Continued)

126
330 of 572

Exhibit H-1
ASSETS
Pooled cash and investments
Leases receivable
Accounts receivable, net
Interest receivable
Loans receivable
Prepaid items
Total assets

LIABILITIES
Accounts payable
Deposits
Due to other funds
Unearned revenues
Wages and benefits payable
Total liabilities

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
Unavailable revenues
Total deferred inflows of resources
Total liabilities and deferred inflows of
resources

CITY OF GLENDALE
Combining Balance Sheet
Nonmajor Special Revenue Funds
June 30, 2025
(amounts expressed in thousands)
Fire
Mutual Aid
Fund
2660
Nutritional
Meals Grant
Fund
2700
Library
Fund
2750
-$ 218$ 5,328$
- -
3 0
664 56 1,542
- - -
- - -
- - 5
664 27 4 6,905
- 4 1 32 0
- - -
664 - -
- - 5,987
- 1 2 10
664 53 6,317
- - 3 0
664 - 1,538
664 - 1,568
1,328 53 7,885
- - 5
- - -
- - -
- - -
- 2 21 -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
(664) - ( 985)
(664) 2 21 (980)
664$ 274$ 6,905$
(Continued)

127
331 of 572

Exhibit H-1
ASSETS
Pooled cash and investments
Leases receivable
Accounts receivable, net
Interest receivable
Loans receivable
Prepaid items
Total assets

LIABILITIES
Accounts payable
Deposits
Due to other funds
Unearned revenues
Wages and benefits payable
Total liabilities

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
Unavailable revenues
Total deferred inflows of resources
Total liabilities and deferred inflows of
resources

CITY OF GLENDALE
Combining Balance Sheet
Nonmajor Special Revenue Funds
June 30, 2025
(amounts expressed in thousands)
Cable Access Fund
2800
Electric Public
Benefit
Fund
2910
Total Nonmajor
Special Revenue
Funds
5,048$ 17,660$ 133,355$
- -
2 03
108 1,052 24,084
34 11 8 18 2
- - 6,837
- - 1 61
5,190 18,830 164,822
77 76 9 9,864
- - 1 17
- - 8,420
- - 1 6,866
- 3 8 67 9
77 80 7 35 ,946
- - 1 89
- - 2 2,919
- - 2 3,108
77 80 7 59 ,054
- - 1 61
- - 1,467
5,113 - 5,113
- 1 8,023 18,023
- - 4,051
- - 2 53
- - 5,265
- - 4,696
- - 4,573
- - 6 3,248
- - 9,377
- - 4,708
- - (1 5,167)
5,113 18,023 105,768
5,190$ 18,830$ 164,822$

128
332 of 572

Exhibit H-2
CDBG
Fund
2010
Home Grant
Fund
2030
Continuum of
Care Grant
Fund
2040
Emergency
Solutions Grant
Fund
2050

REVENUES
Revenue from other agencies 2,320$ 1,975$ 2,256$ 157$ Licenses and permits - - - -
Fines and forfeitures - - - -
Charges for services - - - -
Miscellaneous revenue - 12 2 - -
Use of money and property - 1 - -
Total revenues 2, 320 2 ,098 2,256 157

EXPENDITURES
Current:

General government - - - -
Police - - - -
Fire - - - -
Public works - - - -
Transportation - - - -
Housing, health and community development
1 ,444 2 ,806 2,607 155
Employment programs - - - -
Public service - - - -
Parks, recreation and community services - - - -
Library, arts and culture - - - -
Debt service:

Principal retirement - Leases - - - -
Interest - Leases - - - -
Capital outlay:

Capital outlay 523 - - -
Total expenditures 1,967 2 ,806 2,607 155
Excess (deficiency) of revenues
over (under) expenditures 353 (7 08) (3 51) 2

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers out - - - -
Leases and subscriptions - - - -
Total other financing sources (uses) - - - -
Net change in fund balances 353 (7 08) (3 51) 2
Fund balances - beginning (4 12) 22 7 - (2 )
Fund balances - ending (59)$ (481)$ (351)$ - $

129
333 of 572

Exhibit H-2

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

General government
Police
Fire
Public works
Transportation
Housing, health and community development
Employment programs
Public service
Parks, recreation and community services
Library, arts and culture
Debt service:

Principal retirement - Leases
Interest - Leases
Capital outlay:

Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)
Net change in fund balances
Fund balances - beginning
Fund balances - ending

CITY OF GLENDALE
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Special revenue funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Workforce
Fund
2060
Affordable
Housing Trust
Fund
2090
Urban Art
Fund
2100
Glendale Youth
Alliance
Fund
2110
6,265$ -$ -$ -$
- -
1 58 -
- - - -
17 272 - 3, 094
- 68 - -
69 67 2 49 -
6,351 4 07 407 3, 094
- - - -
- - - -
- - - -
- - - -
- - - -
- 1, 646 - -
5,455 - - 3, 148
- - - -
- - - -
- - 6 70 -
679 - - -
19 - - -
- - - -
6,153 1,646 67 0 3, 148
198 (1 ,239) (2 63) (54)
- - - -
- - - -
- - - -
- - - -
198 (1 ,239) (2 63) (54)
3,506 2,426 9,640 54
3,704$ 1,187$ 9,377$ - $
(Continued)

130
334 of 572

Exhibit H-2

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Capital outlay:

Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)
Net change in fund balances
Fund balances - beginning
Fund balances - ending

CITY OF GLENDALE
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Special revenue funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
BEGIN Affordable
Homeownership
Fund
2120
Low & Moderate
Income
Housing Asset
Fund
2130
Grant
Fund
2160
Hazardous
Disposal
Fund
2190
-$ -$ 2,570$ 27$
- - - 1,415
- - - -
- - - 679
22 57 2 - -
3 100 8 264
25 67 2 2 ,578 2 ,385
- - - -
- - - -
- - - 2,001
- - 28 2 -
- - - -
- 1 ,115 8 82 -
- - - -
- - - -
- - 88 1 -
- - - -
- - - -
- - - -
- - 4, 008 -
- 1 ,115 6,053 2 ,001
25 (4 43) (3 ,475) 384
- - - -
- - - -
- - - -
- - - -
25 (4 43) (3 ,475) 384
101 4 ,275 (1,015) 4, 324
126$ 3,832$ (4,490)$ 4,708$
(Continued)

131
335 of 572

Exhibit H-2

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Capital outlay:

Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)
Net change in fund balances
Fund balances - beginning
Fund balances - ending

CITY OF GLENDALE
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Special revenue funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Parking
Fund
2210
Measure M
Local Return
Fund
2220
Measure M
Subregional
Fund
2230
Measure H
Fund
2240
-$ 3,537$ 400$ 478$
228 - - -
4,121 - - -
7,277 - - -
2 - - -
713 5 01 - -
12,341 4, 038 40 0 478
- - - -
- - - -
- - - -
13,044 - 2 53 -
- 2 ,429 - -
- - - 257
- - - 2
- - - -
- - - -
- - - -
- - - -
- - - -
128 3 61 832 -
13,172 2, 790 1,085 25 9
(831) 1,248 (6 85) 219
- - - -
(7,186) - - -
- - - -
(7,186) - - -
(8,017) 1,248 (6 85) 219
8,017 17 ,632 (287) (247)
-$ 18,880$ (972)$ (28)$
(Continued)

132
336 of 572

Exhibit H-2

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Capital outlay:

Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)
Net change in fund balances
Fund balances - beginning
Fund balances - ending

CITY OF GLENDALE
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Special revenue funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
2011 TABs
Housing
Fund
2250
Measure W
Fund
2260
Permanent
Local Housing
Allocation Fund
2280
Air Quality
Improvement
Fund
2510
-$ 1,696$ -$ 320$
- - - -
- - - -
- - - -
- - - -
5 93 4 35
5 1,789 4 35 5
- - - -
- - - -
- - - -
- 3 22 - -
- - - 1 76
- - 12 7 -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- 3 22 12 7 176
5 1,467 (123) 179
- - - -
- - - -
- - - -
- - - -
5 1,467 (123) 179
179 3,106 185 1,288
184$ 4,573$ 62$ 1,467$
(Continued)

133
337 of 572

Exhibit H-2

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Capital outlay:

Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)
Net change in fund balances
Fund balances - beginning
Fund balances - ending

CITY OF GLENDALE
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Special revenue funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
PW Special
Grants
Fund
2520
San Fernando
Landscape
District
Fund
2530
Measure R
Local Return
Fund
2540
Measure R
Regional Return
Fund
2550
-$ -$ 3,122$ 447$
- - - -
- - - -
-
68 - -
- - - -
- 7 49 9 -
- 75 3,621 447
- - - -
- - - -
- - - -
- 10 0 - 1,100
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - 1,001 4,573
- 10 0 1,001 5,673
- (25) 2,620 (5,226)
- - - -
- - - -
- - - -
- - - -
- (25) 2,620 (5,226)
(35) 2 78 17 ,631 (1,182)
(35)$ 253$ 20,251$ (6,408)$
(Continued)

134
338 of 572

Exhibit H-2

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Capital outlay:

Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)
Net change in fund balances
Fund balances - beginning
Fund balances - ending

CITY OF GLENDALE
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Special revenue funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Transit Prop A
Local Return
Fund
2560
Transit Prop C
Local Return
Fund
2570
Transit Utility
Fund
2580
Asset Forfeiture
Fund
2600
5,020$ 4,163$ 3,008$ -$
- - - -
- - - 103
- - 1 1,202 -
- - - -
274 377 - 90
5,294 4, 540 14 ,210 193
- - - -
- - - 173
- - - -
- - - -
5,455 4, 020 14 ,210 -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
312 - - -
5,767 4, 020 14 ,210 173
(473) 520 - 20
- - - -
- - - -
- - - -
- - - -
(473) 520 - 20
12,146 12,008 - 3,372
11,673$ 12,528$ -$ 3,392$
(Continued)

135
339 of 572

Exhibit H-2

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Capital outlay:

Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)
Net change in fund balances
Fund balances - beginning
Fund balances - ending

CITY OF GLENDALE
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Special revenue funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Police
Fund
2610
Supplemental Law
Enforcement Fund
2620
Fire Grant
Fund
2650
2,052$ 577$ 253$
- - -
- - -
- - -
81 - -
31 3 4 -
2,164 611 25 3
- - -
1,638 554 -
- - 1 67
- - -
- - -
- - -
- - -
- - -
- - -
- - -
168 - -
3 - -
320 - -
2,129 554 16 7
35 5 7 8 6
- - -
- - -
320 - -
320 - -
355 57 8 6
(840) 1,247 (223)
(485)$ 1,304$ (137)$
(Continued)

136
340 of 572

Exhibit H-2

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Capital outlay:

Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)
Net change in fund balances
Fund balances - beginning
Fund balances - ending

CITY OF GLENDALE
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Special revenue funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Fire
Mutual Aid Fund
2660
Nutritional
Meals Grant Fund
2700
Library
Fund
2750
1,514$ 636$ 2,539$
- - -
- - -
- -
37 - 15 4 8
- 7 3
1,514 658 2,627
- - -
- - -
2,170 - -
- - -
- - -
- - -
- - -
- - -
- 7 35 -
- - 1,847
- - -
- - -
142 - 1,004
2,312 735 2,851
(798) (77) (224)
- 1 33 -
- - -
- - -
- 1 33 -
(798) 56 (224)
134 16 5 (7 56)
(664)$ 221$ (980)$
(Continued)

137
341 of 572

Exhibit H-2

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Capital outlay:

Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)
Net change in fund balances
Fund balances - beginning
Fund balances - ending

CITY OF GLENDALE
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Special revenue funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Cable Access
Fund
2800
Electric Public
Benefit
Fund
2910
Total Nonmajor
Special Revenue
Funds
-$ -$ 45,332$
- -
1,801
- - 4,224
300 9,264 32,210
- - 930
299 99 5 4,728
599 1 0,259 89,225
40 - 4 0
- - 2,365
- - 4,338
- - 15 ,101
- - 26 ,290
- - 11 ,039
- - 8,605
- 7,349 7, 349
- - 1,616
- - 2,517
- - 847
- - 2 2
10 - 13 ,214
50 7, 349 93,343
549 2,910 (4 ,118)
- - 133
- - (7,186)
- - 320
- - (6,733)
549 2,910 (10,851)
4,564 15 ,113 11 6,619
5,113$ 18,023$ 105,768$

138
342 of 572

Exhibit H-3
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
Original
Budget
Final
Budget Actual
Variance with
Final Budget

REVENUES
Revenue from other agencies 2,200$ 2,925$ 2,320$ (605)$ Licenses and permits - - - -
Fines and forfeitures - - - -
Charges for services - - - -
Miscellaneous revenue - - - -
Use of money and property - - - -
Total revenues 2 ,200 2 ,925 2,320 (605)

EXPENDITURES
Current:

General government - - - -
Police - - - -
Fire - - - -
Public works - - - -
Transportation - - - -
Housing, health and community development
1, 330 2 ,576 1,444 1, 132
Employment programs - - - -
Public service - - - -
Parks, recreation and community services - - - -
Library, arts and culture - - - -
Total current 1, 330 2 ,576 1,444 1, 132
Debt service:

Principal retirement - Leases - - - -
Interest - Leases - - - -
Total debt service - - - -
Capital outlay:

Capital outlay 8 70 2 ,466 5 23 1, 943
Total capital outlay 8 70 2 ,466 5 23 1, 943
Total expenditures 2 ,200 5 ,042 1,967 3, 075

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers out - - - -
Leases and subscriptions - - - -
Total other financing sources (uses) -$ -$ -$ -$
CDBG Fund

CITY OF GLENDALE
Nonmajor Special Revenue Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
2010
(Continued)
139
343 of 572

Exhibit H-3
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Total debt service
Capital outlay:

Capital outlay
Total capital outlay
Total expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)

CITY OF GLENDALE
Nonmajor Special Revenue Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Original
Budget
Final
Budget Actual
Variance with
Final Budget
1,247$ 1,247$ 1,975$ 728$
- - - -
- - - -
- - - -
130 130 12 2 (8)
- - 1 1
1,377 1,377 2 ,098 72 1
- - - -
- - - -
- - - -
- - - -
- - - -
1,377 4,209 2 ,806 1 ,403
- - - -
- - - -
- - - -
- - - -
1,377 4,209 2 ,806 1 ,403
- - - -
- - - -
- - - -
- - - -
- - - -
1,377 4,209 2 ,806 1 ,403
- - - -
- - - -
- - - -
-$ -$ -$ -$
Home Grant Fund
2030
(Continued)
140
344 of 572

Exhibit H-3
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Total debt service
Capital outlay:

Capital outlay
Total capital outlay
Total expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)

CITY OF GLENDALE
Nonmajor Special Revenue Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Original
Budget
Final
Budget Actual
Variance with
Final Budget
-$ 3,299$ 2,256$ (1,043)$
- - - -
- - - -
- - - -
- - - -
- - - -
- 3,299 2,256 (1,043)
- - - -
- - - -
- - - -
- - - -
- - - -
- 6,644 2,607 4,037
- - - -
- - - -
- - - -
- - - -
- 6,644 2,607 4,037
- - - -
- - - -
- - - -
- - - -
- - - -
- 6,644 2,607 4,037
- - - -
- - - -
- - - -
-$ -$ -$ -$
Continuum of Care Grant Fund
2040
(Continued)

141
345 of 572

Exhibit H-3
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Total debt service
Capital outlay:

Capital outlay
Total capital outlay
Total expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)

CITY OF GLENDALE
Nonmajor Special Revenue Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Original
Budget
Final
Budget Actual
Variance with
Final Budget
155$ 155$ 157$ 2$
- - - -
- - - -
- - - -
- - - -
- - - -
155 155 157 2
- - - -
- - - -
- - - -
- - - -
- - - -
155 161 155 6
- - - -
- - - -
- - - -
- - - -
155 161 155 6
- - - -
- - - -
- - - -
- - - -
- - - -
155 161 155 6
- - - -
- - - -
- - - -
-$ -$ -$ -$
Emergency Solutions Grant Fund
2050
(Continued)

142
346 of 572

Exhibit H-3
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Total debt service
Capital outlay:

Capital outlay
Total capital outlay
Total expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)

CITY OF GLENDALE
Nonmajor Special Revenue Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Original
Budget
Final
Budget Actual
Variance with
Final Budget
8,437$ 8,437$ 6,265$ (2,172)$
- - - -
- - - -
100 1 00 1 7 (83)
- - - -
- - 69 69
8,537 8,537 6 ,351 (2,186)
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
8,537 1 2,980 5,455 7 ,525
- - - -
- - - -
- - - -
8,537 1 2,980 5,455 7 ,525
- - 679 (679)
- - 19 (19)
- - 698 (698)
- - - -
- - - -
8,537 1 2,980 6,153 6 ,827
- - - -
- - - -
- - - -
-$ -$ -$ -$
Workforce Fund
2060
(Continued)

143
347 of 572

Exhibit H-3
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Total debt service
Capital outlay:

Capital outlay
Total capital outlay
Total expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)

CITY OF GLENDALE
Nonmajor Special Revenue Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Original
Budget
Final
Budget Actual
Variance with
Final Budget
-$ -$ -$ -$
- - - -
- - - -
253 25 3 2 72 19
- - 6 8 68
43 43 67 24
296 29 6 4 07 111
- - - -
- - - -
- - - -
- - - -
- - - -
187 1 ,937 1,646 291
- - - -
- - - -
- - - -
- - - -
187 1 ,937 1,646 291
- - - -
- - - -
- - - -
- - - -
- - - -
187 1 ,937 1,646 291
- - - -
- - - -
- - - -
-$ -$ -$ -$
Affordable Housing Trust Fund
2090
(Continued)

144
348 of 572

Exhibit H-3
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Total debt service
Capital outlay:

Capital outlay
Total capital outlay
Total expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)

CITY OF GLENDALE
Nonmajor Special Revenue Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Original
Budget
Final
Budget Actual
Variance with
Final Budget
-$ -$ -$ -$
200 2 00 15 8 (42)
- - - -
- - - -
- - - -
171 1 71 24 9 78
371 3 71 40 7 36
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
2,200 2,200 67 0 1,530
2,200 2,200 67 0 1,530
- - - -
- - - -
- - - -
- - - -
- - - -
2,200 2,200 67 0 1,530
- - - -
- - - -
- - - -
-$ -$ -$ -$
Urban Art Fund
2100
(Continued)

145
349 of 572

Exhibit H-3
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Total debt service
Capital outlay:

Capital outlay
Total capital outlay
Total expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)

CITY OF GLENDALE
Nonmajor Special Revenue Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Original
Budget
Final
Budget Actual
Variance with
Final Budget
-$ -$ -$ -$
- - - -
- - - -
3,582 3 ,582 3, 094 (488)
- - - -
- - - -
3,582 3 ,582 3, 094 (488)
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
3,582 3 ,582 3, 148 434
- - - -
- - - -
- - - -
3,582 3 ,582 3, 148 434
- - - -
- - - -
- - - -
- - - -
- - - -
3,582 3 ,582 3, 148 434
- - - -
- - - -
- - - -
-$ -$ -$ -$
Glendale Youth Alliance Fund
2110
(Continued)

146
350 of 572

Exhibit H-3
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Total debt service
Capital outlay:

Capital outlay
Total capital outlay
Total expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)

CITY OF GLENDALE
Nonmajor Special Revenue Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Original
Budget
Final
Budget Actual
Variance with
Final Budget
-$ -$ -$ -$
- - - -
- - - -
- - - -
10 10 22 12
- - 3 3
10 10 25 15
- - - -
- - - -
- - - -
- - - -
- - - -
10 10 - 10
- - - -
- - - -
- - - -
- - - -
10 10 - 10
- - - -
- - - -
- - - -
- - - -
- - - -
10 10 - 10
- - - -
- - - -
- - - -
-$ -$ -$ -$
BEGIN Affordable Homeownership Fund
2120
(Continued)

147
351 of 572

Exhibit H-3
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Total debt service
Capital outlay:

Capital outlay
Total capital outlay
Total expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)

CITY OF GLENDALE
Nonmajor Special Revenue Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Original
Budget
Final
Budget Actual
Variance with
Final Budget
-$ -$ -$ -$
- - - -
- - - -
- - - -
1,200 1,200 572 (62 8)
92 92 100 8
1,292 1,292 672 (62 0)
- - - -
- - - -
- - - -
- - - -
- - - -
1,834 2,371 1,115 1,256
- - - -
- - - -
- - - -
- - - -
1,834 2,371 1,115 1,256
- - - -
- - - -
- - - -
- - - -
- - - -
1,834 2,371 1,115 1,256
- - - -
- - - -
- - - -
-$ -$ -$ -$
Low & Moderate Income Housing Asset Fund
2130
(Continued)

148
352 of 572

Exhibit H-3
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual

REVENUES
Revenue from other agencies
Licenses and permits
Fines and forfeitures
Charges for services
Miscellaneous revenue
Use of money and property
Total revenues

EXPENDITURES
Current:

Principal retirement - Leases
Interest - Leases
Total debt service
Capital outlay:

Capital outlay
Total capital outlay
Total expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Leases and subscriptions
Total other financing sources (uses)

CITY OF GLENDALE
Nonmajor Special Revenue Funds
For the Year Ended June 30, 2025
(amounts expressed in thousands)
Original
Budget
Final
Budget Actual
Variance with
Final Budget
852$ 2,967$ 2,570$ (397)$
- - - -
- - - -
- - - -
- - - -
- - 8 8
852 2 ,967 2,578 (389)
50 50 - 50
- - - -
- - - -
100 1 ,487 282 1, 205
- - - -
400 7 ,804 882 6, 922
- - - -
- - - -
352 1 ,508 881 627
- - - -
902 10 ,849 2,045 8,804
- - - -
- - - -
- - - -
- 5, 852 4,008 1,844
- 5, 852 4,008 1,844
902 16 ,701 6,053 10,648
- - - -
- - - -
- - - -
-$ -$ -$ -$
Grant Fund
2160
(Continued)

Glendale City CouncilDecember 9, 2025

Glendale City Council
December 9, 2025