REGULAR MEETING STARTS AT 6:00 PM
Mayor Dan Epperson
Vice Mayor Rodney Plamondon
Council Member Dominic Atlan
Council Member Stacy Rhoades
Council Member Diane Wratten
DUE TO THE GOVERNOR'S EXECUTIVE ORDER N-25-20, THE CITY OF IONE
WILL BE CONDUCTING ITS MEETING IN PERSON
AT 1 E. MAIN STREET, IONE, CA 95640
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Tuesday, February 15, 2022
1E. Main Street
lone, CA 95640
THE CITY OF IONE IS A GENERAL LAW CITY DEDICATED TO
PROVIDING LEADERSHIP, ACCOUNTABILITY, AND FISCAL INTEGRITY
WHILE PROMOTING ECONOMIC OPPORTUNITIES AND MAINTAINING
A HIGH QUALITY OF LIFE FOR OUR CITIZENS
PLEASE LIMIT PUBLIC COMMENT/TESTIMONY TO FOUR MINUTES
Gov't. Code §54954.3
The lone City Council welcomes, appreciates, and encourages participation in the City Council Meeting. The City Council reserves the right to reasonably limit the total time for public comment on any particular noticed agenda item as it may deem necessary.
Full staff reports and associated documents are available for public review at the Office of the City Clerk, City Hall, 1 E. Main Street, lone, CA. Hard copies may be obtained for $3.60 for pages 1-5 and $.45 for each additional page. Documents that are not available when the agenda is posted will be made available for public review at the meeting.
AGENDA
A. ROLL CALL
B. PLEDGE OF ALLEGIANCE
C. APPROVAL OF AGENDA
D. PRESENTATIONS/ANNOUNCEMENTS:
• John Stewart Award - Police Chief Jeff Arnold
E. PUBLIC COMMENT: EACH SPEAKER IS LIMITED TO 4 MINUTES NOTE: This is the time for members of the public who wish to be heard on matters that do not appear on the Agenda. Persons may address the City Council at this time on any subject within the jurisdiction of the lone City Council.
Please be mindful of the 4 minute time limit per person. Pursuant to the Brown Act, the City Council may not take action or engage in a detailed discussion on an item that does not appear on the Agenda. However, matters that require Council action will be referred to staff for a report and/or recommendation for possible action at a future Council meeting. Is there anyone in the audience who wishes to address the Council at this time?
F. CONSENT CALENDAR:
Notice to the Public: All matters listed under this category are considered to be routine and will be enacted by one motion. Any item may be removed for discussion and possible action and made a part of the regular agenda at the request of a Council Member(s).
1. Approval of Minutes - January 18, 2022
2. Financial and Investment Report through December 31, 2021 G. PUBLIC HEARING: None
H. REGULAR AGENDA:
3. Presentation and Adoption of Resolution No. 2022-02 Accepting the Fiscal Year 2018/19 Audit by the City of lone's Independent Auditor, Brian Nash of Richardson and Company, LLP
4. Waive the Second Reading by Substitution of Title Only and Adopt Ordinance No. 528 - Amendment to Municipal Code, Title 17 - Focused Zoning Code Update
5. Adoption of Resolution No. 2022-03 Approving the Memorandum of Understanding between the City of lone and the lone Police Officer's Assn. 2 6. Approve the Creation of a New Position of Public Works Manager and delete the position of Public Works Superintendent from the Salary Schedule
7. Discuss and Consider the Appointment of a Youth Advisory Position to the Parks and Recreation Commission pursuant to Section 2.36.020 (E) of the lone Municipal Code which reads: The City Council may from time to time appoint advisory personnel to assist the commission. Such advisors shall not have voting preivileges.
I. REPORTS AND COMMUNICATIONS FROM CITY MANAGER
J. COUNCIL COMMENTS/COMMITTEE REPORTS/FUTURE AGENDA ITEMS K. CLOSED SESSION:
• Conference with Legal Counsel Pursuant to Government Code Section 54956.9(d)(1), Existing Litigation California Public Utilities Commission v.
City of lone
• Conference with Legal Counsel - Anticipated Litigation: Significant Exposure to litigation Pursuant to Paragraph (2) of Section 54956.9 of the Government Code - Two (2) Cases
Pursuant to Government Code Section 54956.8 with Real Property Negotiator: Property: APN 004-151-012
Agency Negotiator: Michael Rock, Interim City Manager
Negotiation Parties: Loreta Tillery and Helen Ninnis
L. ADJOURNMENT
NOTICE REGARDING CHALLENGES TO DECISIONS
Pursuant to all applicable laws and regulations, including without limitation, California Government Code Section 65009 and or California Public Resources Code Section 21177, if you wish to challenge in court any of the above decisions (regarding planning, zoning and/or environmental decisions), you may be limited to raising only those issues you or someone else raised at the public hearing(s) described in this notice/agenda, or in written correspondence delivered to the City at, or prior to, this public hearing.
ADA COMPLIANCE STATEMENT
In compliance with the American with Disabilities Act, if you need special assistance to participate in this meeting, please contact City Clerk Janice Traverso at (209) 274-2412, ext. 102. Notification 24 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting. 3 1, Janice Traverso, the City Clerk of the City of lone declare under penalty of perjury coat thi was goined on da fuary 1, esday, February 15,2022 meeting of the lone Giry Janice Traverso, City Clerk
CITY OF IONE COUNCIL MEETING MINUTES
Meeting of January 18, 2022
Mayor Epperson called meeting to order at 6:00 PM
A. ROLL CALL:
Present: Dan Epperson, Mayor
Rodney Plamondon, Vice Mayor
Dominic Atlan, Councilmember
Stacy Rhoades, Councilmember
Diane Wratten, Councilmember
Staff: Michael Rock, Interim City Manager
Sophia Meyer, City Attorney
Janice Traverso, City Clerk
B. PLEDGE OF ALLEGIANCE:
Mayor Epperson led the Pledge of Allegiance.
C. APPROVAL OF AGENDA:
It was moved by Councilmember Wratten, seconded by Vice Mayor Plamondon and and carried to approve the agenda.
AYES: Epperson, Plamondon, Atlan, Rhoades, Wratten
NOES: None
ABSENT: None
ABSTAIN: None
D. PRESENTATIONS/ANNOUNCEMENTS:
• John Stewart Award - Continued to February 15, 2022 Meeting.
E. PUBLIC COMMENT:
Gary Thomas - Invited the City to join the Amador County Sustainable Groundwater Committee. Mayor Epperson will add the Committee to the list of Committee Assignments for 2022.
F. CONSENT CALENDAR:
1. It was moved by Councilmember Rhoades, seconded by Councilmember Wratten and carried to approve the Minutes of December 7, 2021 Special Meeting and December 21, 2021 Minutes and Minutes of December 7, 2021 with the following corrections:
• Delete vote under Public Comment
• Add to comment by Jim Nevin, "City Manager Michael Rock commented that this statement is not true".
2. It was moved by Councilmember Atlan, seconded by Vice Mayor Plamondon and carried to approve the Groundwater Monitoring Reports for the Third Quarter, 2021 with the following statement read by Mayor Epperson from Chris Strong, Ecourban:
"Based on drilling and ground observations at the lone Mine immediately south of the Treatment Plant, my understanding of the geology underlying the Waste Water facility is that there is a largely continuous belt of laterite that runs northeast-southwest along the greenstone ridge immediately west of the treatment facility. It runs northeast from the George Reed quarry, though the US Mine Corp, just west of the lone Wastewater facility, up to the SGI quarry. Laterite is rich in iron and manganese oxide. This is what I mean by naturally-occurring iron and manganese. It is true that reduced (low-oxygen) groundwater environments, such as those at Wastewater plants where organic waste and bacteria are consuming oxygen, will dissolve these metals and mobilize them in the groundwater. However, the successful installation of the pond liners effectively prevent this mechanism by blocking the infiltration of low-oxygen water into the groundwater table. In fact, the dissolved oxygen and ORP (oxidation-reduction potential) that I have measured in the groundwater since the installation of the liners appears confirm this. I think that the Water Board should acknowledge that the liners have established compliance with previous cease and desist orders, and should rescind them and preferably reduce the sample schedule from quarterly to biannually." AYES: Epperson, Plamondon, Atlan, Rhoades, Wratten
NOES: None
ABSENT: None
ABSTAIN: None
G. PUBLIC HEARING: None
DISCUSSION ITEMS:
For the record: Action minutes provide the necessary documentation of City Council action. udio recordings are retained for those desiring more detail on particular agenda ite iscussions. These audio recordings provide an accurate and comprehensive backup of Cit Council deliberations and citizen discussions.
H. REGULAR AGENDA:
3. Adoption of Resolution No. 2022-01 Approving the Fiscal Year 2020/2021 Regional Traffic Mitigation Fee Program Annual Report and Funding Options for Fiscal Year 2021/2022 - The RTMF program has obligated $368,998 in contributions toward the Western lone Roadway Improvement Strategy (WIRIS) but the City needs to secure the funding.
Larry Rhoades commented that when the lone Bypass Study was done in 2017 for $260,000, it was totally illegal because none of the landowners were notified that you were going to eminent domain their property. Secondly, Dominic Atlan and Diane Wratten did not collect $500,000 from the developer, and you want to use our money to make another study. The original document goes five feet from Rocky Costa's door step and it takes absolutely nothing from the Ringer Ranch. Dominic Atlan responded that Diane Wratten and I were not on the Council in 2005.
Mayor Epperson commented that this was just a study and no approvals have been given.
I am sure that the property owners will be notified and it will be a considerable process.
It was moved by Councilmember Atlan, seconded by Vice Mayor Plamondon and carried to adopt Resolution No. 2022-01 Approving the Fiscal Year 2020/2021 Regional Traffic Mitigation Fee program Annual Report and Funding Option for fiscal Year 2021/2022.
AYES: Epperson, Plamondon, Atlan, Rhoades, Wratten
ABSENT: None
ABSTAIN: None
4. Delete Administrative Analyst and Add Management Analyst Position to the Salary Schedule - Michael Rock is asking Council to delete the Administrative Analyst position from the Salary Schedule and add Management Analyst position with a salary range of $70,000 to $85,086, which will be an additional $14,431 a year for salary and benefits. It was moved by Councilmember Atlan, seconded by Vice Mayor Plamondon and carried to approve the Management Analyst position.
AYES: Epperson, Plamondon, Atlan, Rhoades, Wratten
NOES: None
ABSENT: None
ABSTAIN: None
5. Approve Salary Range at Step 5 for Building Inspector/Code Enforcement Officer - Michael Rock is asking the Council to approve Step 5 of the Salary Schedule for the recently hired new Building Inspector/Code Enforcement Officer. Mr. Kevin Sparks will also be working part time for the City of Plymouth-one to one a half days a week. It was moved by Vice Mayor Plamondon, seconded by Councilmember Rhoades to approve Step 5 of the Salary Range for Building Inspector/Code Enforcement Officer.
AYES: Epperson, Plamondon, Atlan, Rhoades, Wratten
NOES: None
ABSENT: None
ABSTAIN: None
6. Award of Information Technology Services Agreement to Computer Brokers and Systems Corporation - At the direction of the City Council, an RFP was issued on 9/20/21 and three companies submitted proposals for consideration. After careful consideration, the panel selected Computer Brokers as the firm most qualified to provide the full spectrum of services needed by the City. Councilmember Atlan commented that in the future he would like to see copies of the RFP's included in the package. After discussion by Council, it was moved by Vice Mayor Plamondon, seconded by Councilmember Wratten and carried to award the Information Technology Services Agreement to Computer Brokers and System Corporation.
AYES: Epperson, Plamondon, Rhoades, Wratten
NOES: Atlan
ABSENT: None
ABSTAIN: None
7. Appointment of City Council Committee Assignments for 2022 - Mayor Dan Epperson presented the Council with their Committee Assignments for 2022. It was moved by Councilmember Atlan, seconded by Vice Mayor Plamondon to ratify Mayor Epperson's appointments.
AYES: Epperson, Plamondon, Atlan, Rhoades, Wratten
NOES: None
ABSENT: None
ABSTAIN: None
8. Review, Discussion, and Possible Approval of Guest Commentary Letter on behalf of the Council of the City of lone - Michael Rock explained that the intent behind this letter was to essentially have a State of the City address. The attached letter is summary of achievements, successes, and activities of the City over the last year or so and hopefully, the local newspaper will print it as a guest commentary by the City Council.
At this time, a letter from Bette Rhoades was submitted to the Council and the letter will be posted with the record of the meeting.
Councilmember Atlan:
Do not see how Ms. Rhoades letter's relates to the Guest Commentary Letter • The point of the Guest Commentary Letter was to show a unified front • If there is something in the letter that offends Councilmember Rhoades then we need to address his concerns before it is mailed
Councilmember Rhoades:
• I would like my name removed from the letter because I think publishing it will be bad for the City. If certain changes were made to the letter, I would sign it.
Vice Mayor Plamondon:
• This letter is nothing more than a State of the City.
After discussion by Council, it was agreed to remove the first paragraph of Page 2 and the third sentence of paragraph two. It was moved by Councilmember Wratten, seconded by Councilmember Atlan and carried to approve the Guest Commentary Letter with the amendments above.
AYES: Epperson, Plamondon, Atlan, Rhoades, Wratten
NOES: None
ABSENT: None
ABSTAIN: None
J. REPORTS AND COMMUNICATIONS FROM CITY MANAGER:
• Police Department will occupy the new building at 17 E. Main Street-- Interconnect Project--Wastewater to Tertiary plants-Wes Yost Engineering concluded that there is a pipe that is owned by Mule Creek State Prison that will work to connect the pipes and is working on receiving permission from Mule Creek. • Train Depot Project - Planning Commissioners voted 4-0 for Option C to place the restroom toward the Park.
• Town Hall Meeting - we need to carefully listen to what the citizens priorities are so they can be incorporated into the Strategic Plan and Budget Process.
K. COUNCIL COMMENTS/COMMITTEE REPORTS/FUTURE AGENDA ITEMS:
• Councilmember Rhoades - Future Agenda Item: Solar Cost Evaluation and Analysis • Councilmember Wratten - Attended the Air Quality Board - Each of the three cities have available $16,666 for electric charging stations
L. CLOSED SESSION: Council convened to Closed Session to discuss the following:
• Conference with Legal Counsel - Anticipated Litigation: Significant Exposure to Litigation Pursuant to Paragraph (2) of Section 54956.9 of the government Code - Four (4) Cases
• Conference with Legal Counsel - Existing Litigation Paragraph 1 of Subdivision (d) Section 54956.9 - Bittick v. City of lone et. al. Amador Superior Court Case No: 21-CV-12146
• Public Employee Performance Review - Interim City Manager - Pursuant to Government Code 54957.9
M. DISPOSITION OF CLOSED SESSION ITEMS: Mayor Epperson reported the following:
• Conference with Legal Counsel - Anticipated Litigation: Significant Exposure to Litigation Pursuant to Paragraph (2) of Section 54956.9 of the government Code - Four (4) Cases:
1. Information was received and direction given to staff.
2. Information was received and direction given to staff.
3. Councilmember Atlan recused himself from discussion - Information was received and direction was given to staff.
4. Councilmember Rhoades recused himself from discussion - Information was received.
• Conference with Legal Counsel - Existing Litigation Paragraph 1 of Subdivision (d) Section 54956.9 - Bittick v. City of lone et. al. Amador Superior Court Case No: 21-CV-12146 - Councilmembers Atlan and Rhoades recused themselves from discussion and direction was given to staff.
• Public Employee Performance Review - Interim City Manager - Pursuant to Government Code 54957.9 - Information was received and direction given to staff.
N. ADJOURNMENT:
It was moved by Vice Mayor Plamondon, seconded by Councilmember Wratten and carried to adjourn at 9:02 p.m.
Respectfully submitted,
Janice Traverso, City Clerk
CITY OF IONE
TREASURER'S REPORT 2ND QTR FY 2021 - 2022
MONTH END: October 2021
Reconciled Bank Balance
General Checking Account - American River Bank
Balance Per Bank Statement 5,568,054.37
Less: Outstanding Checks/Wires (520,491.60)
Add: Deposits in Transit 18,161.77
Bank Adjustment (64.00)
Reconciled Balance 5,065,660.54
Sweep Savings Account - American River Bank
Balance Per Bank Statement 191,050.91
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 191,050.91
General Checking Account - Wells Fargo Bank
Balance Per Bank Statement 100,059.04
Less: Outstanding Checks/Wires (5,550.38)
Add: Deposits in Transit
Reconciled Balance 94,508.66
Secondary Checking Account - American River Bank
Balance Per Bank Statement 324,710.90
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 324,710.90
Xpress Billpay Deposit Account
Balance Per Bank Statement 207,824.61
Less: Outstanding Checks/Wires
Add: Deposits in Transit 550.55
Reconciled Balance 208,375.16
LAIF Account
CITY OF IONE
TREASURER'S REPORT 2ND QTR FY 2021 - 2022
MONTH END: October 2021
Balance Per Bank Statement 3,809,294.79
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 3,809,294.79
Cantella & Co. - Investment
Balance Per Bank Statement 328,850.19
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 328,850.19
Certificate of Deposit - American River Bank
Balance Per Bank Statement 56,294.10
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 56,294.10
TOTAL 10,078,745.25
CITY OF IONE
TREASURER'S REPORT 2ND QTR FY 2021 - 2022
MONTH END: October 2021
BALANCE PER GENERAL LEDGER
General Checking Account - American River Bank 5,065,660.54 Sweeps Savings Account - American River Bank 191,050.91 General Checking Account - Wells Fargo 94,508.66
Secondary Checking Account - American Bank 324,710.90
Xpress Billpay Deposit Account 208,375.16
LAIF 3,809,294.79
Cantella & Co. - Investment 328,850.19
Certificate of Deposit - American River Bank 56,294.10
Reconciled Balance 10,078,745.25
TOTAL 10,078,745.25
Reconciled Difference -
02/10/22
Chris Hancock, City Treasurer Date
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 1 Feb 10, 2022 11:14AM
Report Criteria:
Print Outstanding Checks and Deposits and Bank and Book Adjustments 01 - ARB - Primary Checking (ARB - Primary Checking) (1) October 31, 2021
Acco 9999001010
Bank Account Number: 4310009027
Bank Statement Balance: 5,568,054.37 Book Balance Previous Month: 8,621,531.96 Outstanding Deposits: 18,161.77 Total Receipts: 751,406.08 Outstanding Checks: 520,491.60 Total Disbursements: 4,307,277.50 Bank Adjustments: 64.00- Book Adjustments: .00
Bank Balance: 5,065,660.54 Book Balance: 5,065,660.54
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount 8 14,404.09 200 126.00 203 659.20
176 29.00 201 40.70 204 60.70 Total: 18,161.77
199 2,709.98 202 91.40 205 40.70
Deposits cleared: 73 items Deposits Outstanding: 9 items Outstanding Checks
Check Check Check Check Check Check Check Check
Number Amount Number Amount Number Amount Number Amount 3,251.36 1925 40.70- 2502 1,687.50 2512 495.00
1228 2,404.75 2358 2.60 2503 679.74 2513 2.378.18
1390 222.60 2467 250.00 2504 2,494.11 2514 63.07
1438 80.00 2470 368,998.00 2505 168.65 2515 900.00
1439 101.43 2471 16,573.40 2506 333.46 2516 21,189.75
1446 1,446.25 2476 177.84 2507 17,810.47 2517 5,168.35
1712 50.05 2480 50.00 2508 340.49 2518 96.96
1755 25.84 2488 51.70 2509 23,731.25 2519 9,609.80
1802 50.00 2494 3,500.00 2510 1,553.65 2520 613.55
1913 79.02 2500 495.10 2511 33,408.38
Total: 520,491.60
Checks cleared: 82 items Checks Outstanding: 39 items
Bank Adjustments
Description Amount Description Amount
UNKNOWN BUSINESS LICENSE 64.00-
Total: 64.00-
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 8 Feb 10, 2022 11:15AM
02 - ARB - Sweep Savings (ARB - Sweep Savings) (2)
October 31, 2021
Acco 9999001020
Bank Account Number:
Bank Statement Balance: 191,050.91 Book Balance Previous Month: 191,046.04 Outstanding Deposits: .00 Total Receipts: 4.87
Outstanding Checks: .00 Total Disbursements: .00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 191,050.91 Book Balance: 191,050.91
Outstanding Deposits
No outstanding deposits found!
Deposits cleared: 1 items Deposits Outstanding: 0 items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adiustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 11 Feb 10, 2022 11:15AM
03 - WF - Checking (WF - Checking) (3)
October 31, 2021
Acco 9999001030
Bank Account Number: 1533039788
Bank Statement Balance: 100,059.04 Book Balance Previous Month: 52,667.47 Outstanding Deposits: …00 Total Receipts: 186,018.18
Outstanding Checks: 5,550.38 Total Disbursements: 144,176.99 Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 94,508.66 Book Balance: 94,508.66
Outstanding Deposits
No outstanding deposits found!
Deposits cleared: 21 items Deposits Outstanding: 0 items Outstanding Checks
Check Check Check Check Check Check Check Check
Number Amount Number Amount Number Amount Number Amount 50261 137.51 52739 1,728.12 53103 35.10 53321 5.00
51658 40.00 52775 176.12 53215 51.88
52116 103.43 52817 345.20 53234 150.00 Total: 5,550.38
52119 1,339.96 52842 122.10 53302 1,315.96
Checks cleared: 8 items Checks Outstanding: 13 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 14 Feb 10, 2022 11:15AM
04 - ARB - Secondary Checking (ARB - 5168 Secondary Checking) (4) October 31, 2021
Acco 9999001040
Bank Account Number: 891915168
Bank Statement Balance: 324,710.90 Book Balance Previous Month: 324,728.14 Outstanding Deposits: .00 Total Receipts: 2.76
Outstanding Checks: .00 Total Disbursements: 20.00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 324,710.90 Book Balance: 324,710.90
Outstanding Deposits
No outstanding deposits found!
Deposits cleared: 1 items Deposits Outstanding: 0 items Outstanding Checks
No outstanding checks found!
Checks cleared: 1 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 17 Feb 10, 2022 11:15AM
05 - XPRESS BILLPAY DEPOSIT ACCT. (X) (5)
October 31, 2021
Acco 9999001050
Bank Account Number: 10655
Bank Statement Balance: 207,824.61 Book Balance Previous Month: 174,982.98 Outstanding Deposits: 550.55 Total Receipts: 33,392.18
Outstanding Checks: .00 Total Disbursements: .00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 208,375.16 Book Balance: 208,375.16
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount 256 40.70 264 40.70 266 40.70 268 55.70
263 96.42 265 172.10 267 104.23
Total: 550.55
Deposits cleared: 49 items Deposits Outstanding: 7 items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 20 Feb 10, 2022 11:15AM
20 - LAIF (LAIF) (20)
October 31, 2021
Acco 9999001120
Bank Account Number:
Bank Statement Balance: 3,809,294.79 Book Balance Previous Month: 808,802.29 Outstanding Deposits: .00 Total Receipts: 3,000,492.50
Outstanding Checks: .00 Total Disbursements: .00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 3,809,294.79 Book Balance: 3,809,294.79
Outstanding Deposits
No outstanding deposits found!
Deposits cleared: 2 items Deposits Outstanding: 0 items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 23 Feb 10, 2022 11:15AM
21 - CANTELLA INVESTMENTS (CANTELLA INVESTMENTS) (21)
October 31, 2021
Acco 9999001121
Bank Account Number:
Bank Statement Balance: 328,850.19 Book Balance Previous Month: 330,338.48 Outstanding Deposits: .00 Total Receipts: 01
Outstanding Checks: .00 Total Disbursements: 1,488.30
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 328,850.19 Book Balance: 328,850.19
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount .00
Total: .00
Deposits cleared: 1 items Deposits Outstanding: 1 items Outstanding Checks
No outstanding checks found!
Checks cleared: 1 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 26 Feb 10, 2022 11:15AM
30 - ARB - CD 4899 (ARB - CD 4899) (30)
October 31, 2021
Acco 9999001130
Bank Account Number:
Bank Statement Balance: 56,294.10 Book Balance Previous Month: 56,289.47 Outstanding Deposits: .00 Total Receipts: 4.63
Outstanding Checks: .00 Total Disbursements: .00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 56,294.10 Book Balance: 56,294.10
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount 2 .00
Total: .00
Deposits cleared: 1 items Deposits Outstanding: 1 items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE
TREASURER'S REPORT FY 2020 - 2021
MONTH END: February 2021
Reconciled Bank Balance November
General Checking Account - American River Bank
Balance Per Bank Statement 5,572,283.27
Less: Outstanding Checks/Wires (50,744.79)
Add: Deposits in Transit 431.30
Bank Adjustment (23.30)
Reconciled Balance 5,521,946.48
Sweep Savings Account - American River Bank
Balance Per Bank Statement 191,055.62
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 191,055.62
General Checking Account - Wells Fargo Bank
Balance Per Bank Statement 130,288.01
Less: Outstanding Checks/Wires (5,550.38)
Add: Deposits in Transit
Reconciled Balance 124,737.63
Secondary Checking Account - American River Bank
Balance Per Bank Statement 324,693.57
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 324,693.57
Xpress Billpay Deposit Account
Balance Per Bank Statement 242,224.85
Less: Outstanding Checks/Wires
Add: Deposits in Transit 638.30
Reconciled Balance 242,863.15
LAIF Account
CITY OF lONE
TREASURER'S REPORT FY 2020 - 2021
MONTH END: February 2021
November
Balance Per Bank Statement 3,809,294.79
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 3,809,294.79
Cantella & Co. - Investment
Balance Per Bank Statement 328,404.70
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 328,404.70
Certificate of Deposit - American River Bank
Balance Per Bank Statement 56,298.88
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 56,298.88
TOTAL 10,599,294.82
CITY OF IONE
TREASURER'S REPORT FY 2020 - 2021
MONTH END: February 2021
• November
BALANCE PER GENERAL LEDGER
General Checking Account - American River Bank 5,521,946.48 Sweeps Savings Account - American River Bank 191,055.62 General Checking Account - Wells Fargo 124,737.63
Secondary Checking Account - American Bank 324,693.57
Xpress Billpay Deposit Account 242,863.15
LAIF 3,809,294.79
Cantella & Co. - Investment 328,404.70
Certificate of Deposit - American River Bank 56,298.88
Reconciled Balance 10,599,294.82
TOTAL 10,599,294.82
Reconciled Difference
02/10/22
Date
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 3 Feb 10, 2022 11:14AM
01 - ARB - Primary Checking (ARB - Primary Checking) (1) November 30, 2021
Acco 9999001010
Bank Account Number: 4310009027
Bank Statement Balance: 5,572,283.27 Book Balance Previous Month: 5,065,660.54 Outstanding Deposits: 431.30 Total Receipts: 908,533.58 Outstanding Checks: 50,744.79 Total Disbursements: 452,247.64 Bank Adjustments: 23.30- Book Adjustments: .00
Bank Balance: 5,521,946.48 Book Balance: 5,521,946.48
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount 176 29.00 188 40.70 190 361.60
Total: 431.30
Deposits cleared: 76 items Deposits Outstanding: 3 items Outstanding Checks
Check Check Check Check Check Check Check Check
Number Amount Number Amount Number Amount Number Amount 1228 2,404.75 1913 79.02 2532 345.48 2556 4,200.00
1390 222.60 1925 40.70- 2533 404.48 2563 1,057.00
1438 80.00 2358 2.60 2534 4,000.00 2564 4,935.00
1439 101.43 2476 177.84 2538 5,000.00 2572 18.75
1446 1,446.25 2480 50.00 2546 5,000.00 2573 140.00
1712 50.05 2488 51.70 2550 5,000.00 2577 5,000.00
1755 25.84 2524 561.60 2554 5,000.00 2580 51.72
1802 50.00 2527 96.67 2555 232.71 2582 5,000.00
Total: 50,744.79
Checks cleared: 93 items Checks Outstanding: 32 items
Bank Adjustments
Description Amount Description Amount
11/30 POSTED $427,483.98-DEPOSITE 41.70 ADJ ENTRY TO BALANCE 1.00- UNKNOWN BUSINESS LICENSE 64.00-
Total: 23.30-
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 9 Feb 10, 2022 11:15AM
02 - ARB - Sweep Savings (ARB - Sweep Savings) (2)
November 30, 2021
Acco 9999001020
Bank Account Number:
Bank Statement Balance: 191,055.62 Book Balance Previous Month: 191,050.91 Outstanding Deposits: .00 Total Receipts: 4.71
Outstanding Checks: .00 Total Disbursements: .00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 191,055.62 Book Balance: 191,055.62
Outstanding Deposits
No outstanding deposits found!
Deposits cleared: 1 items Deposits Outstanding: O items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 12 Feb 10, 2022 11:15AM
03 - WF - Checking (WF - Checking) (3)
November 30, 2021
Acco 9999001030
Bank Account Number: 1533039788
Bank Statement Balance: 130,288.01 Book Balance Previous Month: 94,508.66 Outstanding Deposits: .00 Total Receipts: 31,838.42
Outstanding Checks: 5,550.38 Total Disbursements: 1,609.45 Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 124,737.63 Book Balance: 124,737.63
Outstanding Deposits
No outstanding deposits found!
Deposits cleared: 13 items Deposits Outstanding: O items Outstanding Checks
Check Check Check Check Check Check Check Check
Number Amount Number Amount Number Amount Number Amount 50261 137.51 52739 1,728.12 53103 35.10 53321 5.00
51658 40.00 52775 176.12 53215 51.88
52116 103.43 52817 345.20 53234 150.00 Total: 5,550.38
52119 1,339.96 52842 122.10 53302 1,315.96
Checks cleared: 9 items Checks Outstanding: 13 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 15 Feb 10, 2022 11:15AM
04 - ARB - Secondary Checking (ARB - 5168 Secondary Checking) (4) November 30, 2021
Acco 9999001040
Bank Account Number: 891915168
Bank Statement Balance: 324,693.57 Book Balance Previous Month: 324,710.90 Outstanding Deposits: .00 Total Receipts: 2.67
Outstanding Checks: .00 Total Disbursements: 20.00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 324,693.57 Book Balance: 324,693.57
Outstanding Deposits
No outstanding deposits found!
Deposits cleared: 1 items Deposits Outstanding: 0 items Outstanding Checks
No outstanding checks found!
Checks cleared: 1 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 18 Feb 10, 2022 11:15AM
05 - XPRESS BILLPAY DEPOSIT ACCT. (X) (5)
November 30, 2021
Acco 9999001050
Bank Account Number: 10655
Bank Statement Balance: 242,224.85 Book Balance Previous Month: 208,375.16 Outstanding Deposits: 638.30 Total Receipts: 34,487.99
Outstanding Checks: .00 Total Disbursements: .00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 242,863.15 Book Balance: 242,863.15
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount 249 263.40 250 334.20 256 40.70
Total: 638.30
Deposits cleared: 53 items Deposits Outstanding: 3 items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 21 Feb 10, 2022 11:15AM
20 - LAIF (LAIF) (20)
November 30, 2021
Acco 9999001120
Bank Account Number:
Bank Statement Balance: 3,809,294.79 Book Balance Previous Month: 3,809,294.79 Outstanding Deposits: .00 Total Receipts: 00
Outstanding Checks: .00 Total Disbursements: .00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: - 3,809,294.79 Book Balance: 3,809,294.79 Outstanding Deposits
No outstanding deposits found!
Deposits cleared: 0 items Deposits Outstanding: 0 items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 24 Feb 10, 2022 11:15AM
21 - CANTELLA INVESTMENTS (CANTELLA INVESTMENTS) (21)
November 30, 2021
Acco 9999001121
Bank Account Number:
Bank Statement Balance: 328,404.70 Book Balance Previous Month: 328,850.19 Outstanding Deposits: .00 Total Receipts: .01
Outstanding Checks: .00 Total Disbursements: 445.50
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 328,404.70 Book Balance: 328,404.70
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount .00
Total: .00
Deposits cleared: 1 items Deposits Outstanding: 1 items Outstanding Checks
No outstanding checks found!
Checks cleared: 1 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 27 Feb 10, 2022 11:15AM
30 - ARB - CD 4899 (ARB - CD 4899) (30)
November 30, 2021
Acco 9999001130
Bank Account Number:
Bank Statement Balance: 56,298.88 Book Balance Previous Month: 56,294.10 Outstanding Deposits: .00 Total Receipts: 4.78
Outstanding Checks: .00 Total Disbursements: .0o
Bank Adjustments: .00 Book Adjustments: .oo
Bank Balance: 56,298.88 Book Balance: 56,298.88
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount .00
Total: .00
Deposits cleared: 1 items Deposits Outstanding: 1 items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF lONE
TREASURER'S REPORT FY 2020 - 2021
MONTH END: February 2021
Reconciled Bank Balance December
General Checking Account - American River Bank
Balance Per Bank Statement 5,036,343.58
Less: Outstanding Checks/Wires (134,140.21)
Add: Deposits in Transit 11,441.63
Bank Adjustment (64.00)
Reconciled Balance 4,913,581.00
Sweep Savings Account - American River Bank
Balance Per Bank Statement 191,060.49
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 191,060.49
General Checking Account - Wells Fargo Bank
Balance Per Bank Statement 203,001.79
Less: Outstanding Checks/Wires (5,550.38)
Add: Deposits in Transit 86.40
Reconciled Balance 197,537.81
Secondary Checking Account - American River Bank
Balance Per Bank Statement 324,666.33
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 324,666.33
Xpress Billpay Deposit Account
Balance Per Bank Statement 276,967.34
Less: Outstanding Checks/Wires
Add: Deposits in Transit 1,057.66
Reconciled Balance 278,025.00
CITY OF IONE
TREASURER'S REPORT FY 2020 - 2021
MONTH END: February 2021
December
LAIF Account
Balance Per Bank Statement 3,809,294.79
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 3,809,294.79
Cantella & Co. - Investment
Balance Per Bank Statement 327,994.91
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 327,994.91
Certificate of Deposit - American River Bank
Balance Per Bank Statement 56,303.51
Less: Outstanding Checks/Wires
Add: Deposits in Transit
Reconciled Balance 56,303.51
CITY OF IONE
TREASURER'S REPORT FY 2020 - 2021
MONTH END: February 2021
December
TOTAL 10,098,463.84
BALANCE PER GENERAL LEDGER
General Checking Account - American River Bank 4,913,581.00 Sweeps Savings Account - American River Bank 191,060.49 General Checking Account - Wells Fargo 197,537.81
Secondary Checking Account - American Bank 324,666.33
Xpress Billpay Deposit Account 278,025.00
LAIF 3,809,294.79
Cantella & Co. - Investment 327,994.91
Certificate of Deposit - American River Bank 56,303.51
Reconciled Balance 10,098,463.84
TOTAL 10,098,463.84
Reconciled Difference -
02/10/22
Chris Hancock, City Treasurer Date
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 5 Feb 10, 2022 11:14AM
01 - ARB - Primary Checking (ARB - Primary Checking) (1) December 31, 2021
Acco 9999001010
Bank Account Number: 4310009027
Bank Statement Balance: 5,036,343.58 Book Balance Previous Month: 5,521,946.48 Outstanding Deposits: 11,441.63 Total Receipts: 98,441.71 Outstanding Checks: 134,140.21 Total Disbursements: 706,807.19 Bank Adjustments: 64.00- Book Adjustments: .00
Bank Balance: 4,913,581.00 Book Balance: 4,913,581.00
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount 160 87.00 178 343.60 189 200.00 196 128.00
174 2,693.42 179 332.00 191 825.90 197 40.70
175 121.40 181 81.10 192 64.00
176 29.00 182 45.70 194 396.94 Total: 11,441.63
177 81.70 188 5,740.38 195 230.79
Deposits cleared: 58 items Deposits Outstanding: 17 items Outstanding Checks
Check Check Check Check Check Check Check Check
Number Amount Number Amount Number Amount Number Amount 1228 2,404.75 2546 5,000.00 200.54 2631 1,258.65
1390 2554 5,000.00 3,226.01 2632 32,778.08
1438 2572 18.75 220.00 2633 9,392.02
1439 2599 7,550.27 340.49 2634 2,776.10
1446 2604 2,304.36 186.00 2635 2,337.48
1712 2605 282.49 775.00 2636 7,464.80
1755 2606 63.70 5,186.00 2637 2,200.00
1802 2607 691.00 3,494.32 2638 125.00
1913 2608 58.75 165.00 2639 484.26
1925 2609 4,846.65 2,016.72 2640 3,326.00
2358 2.60 2610 1,086.90 975.17 2641 197.85
2480 2611 168.65 84.00 2642 12.55
2488 2612 376.42 269.38 2643 2,431.79
2534 2613 3,720.00 5,665.00 2644 495.07
2538 2614 329.61 660.84 2645 375.00
Total: 134,140.21
Checks cleared: 39 items Checks Outstanding: 60 items
Bank Adjustments
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 6 Feb 10, 2022 11:15AM
Description Amount
Description Amount
UNIDENTIFIED BUSINESS LICENSE 64.00-
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 7 Feb 10, 2022 11:15AM
Description Amount Description Amount
Total: 64.00-
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 10 Feb 10, 2022 11:15AM
02 - ARB - Sweep Savings (ARB - Sweep Savings) (2)
December 31, 2021
Acco 9999001020
Bank Account Number:
Bank Statement Balance: 191,060.49 Book Balance Previous Month: 191,055.62 Outstanding Deposits: .00 Total Receipts: 4.87
Outstanding Checks: .00 Total Disbursements: .00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 191,060.49 Book Balance: 191,060.49
Outstanding Deposits
No outstanding deposits found!
Deposits cleared: 1 items Deposits Outstanding: 0 items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 13 Feb 10, 2022 11:15AM
03 - WF - Checking (WF - Checking) (3)
December 31, 2021
Acco 9999001030
Bank Account Number: 1533039788
Bank Statement Balance: 203,001.79 Book Balance Previous Month: 124,737.63 Outstanding Deposits: 86.40 Total Receipts: 74,199.06
Outstanding Checks: 5,550.38 Total Disbursements: 1,398.88 Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 197,537.81 Book Balance: 197,537.81
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount 202 86.40
Total: 86.40
Deposits cleared: 11 items Deposits Outstanding: 1 items Outstanding Checks
Check Check Check Check Check Check Check Check
Number Amount Number Amount Number Amount Number Amount 50261 137.51 52739 1,728.12 53103 35.10 53321 5.00
51658 40.00 52775 176.12 53215 51.88
52116 103.43 52817 345.20 53234 150.00 Total: 5,550.38
52119 1,339.96 52842 122.10 53302 1,315.96
Checks cieared: 7 items Checks Outstanding: 13 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 16 Feb 10, 2022 11:15AM
04 - ARB - Secondary Checking (ARB - 5168 Secondary Checking) (4) December 31, 2021
Acco 9999001040
Bank Account Number: 891915168
Bank Statement Balance: 324,666.33 Book Balance Previous Month: 324,693.57 Outstanding Deposits: .00 Total Receipts: 2.76
Outstanding Checks: .00 Total Disbursements: 30.00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 324,666.33 Book Balance: 324,666.33
Outstanding Deposits
No outstanding deposits found!
Deposits cleared: 1 items Deposits Outstanding: 0 items Outstanding Checks
No outstanding checks found!
Checks cleared: 1 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 19 Feb 10, 2022 11:15AM
05 - XPRESS BILLPAY DEPOSIT ACCT. (X) (5)
December 31, 2021
Acco 9999001050
Bank Account Number: 10655
Bank Statement Balance: 276,967.34 Book Balance Previous Month: 242,863.15 Outstanding Deposits: 1,057.66 Total Receipts: 35,161.85 Outstanding Checks: .00 Total Disbursements: .00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 278,025.00 Book Balance: 278,025.00
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount • Number Amount Number Amount 253 40.70 255 731.76 256 81.40
254 163.10 256 40.70
Total: 1,057.66
Deposits cleared: 50 items Deposits Outstanding: 5 items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 22 Feb 10, 2022 11:15AM
20 - LAIF (LAIF) (20)
December 31, 2021
Acco 9999001120
Bank Account Number:
Bank Statement Balance: 3,809,294.79 Book Balance Previous Month: 3,809,294.79 Outstanding Deposits: .00 Total Receipts: .00
Outstanding Checks: .00 Total Disbursements: 00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 3,809,294.79 Book Balance: 3,809,294.79
Outstanding Deposits
No outstanding deposits found!
Deposits cleared: 0 items Deposits Outstanding: 0 items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 25 Feb 10, 2022 11:15AM
21 - CANTELLA INVESTMENTS (CANTELLA INVESTMENTS) (21)
December 31, 2021
Acco 9999001121
Bank Account Number:
Bank Statement Balance: 327,944.91 Book Balance Previous Month: 328,404.70 Outstanding Deposits: .00 Total Receipts: .01
Outstanding Checks: .00 Total Disbursements: 459.80
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 327,944.91 Book Balance: 327,944.91
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount -..
2 .00
Total: .00
Deposits cleared: 1 items Deposits Outstanding: 1 items Outstanding Checks
No outstanding checks found!
Checks cleared: 1 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
CITY OF IONE Bank Reconciliation Report - Detailed American River Bank Account Page: 28 Feb 10, 2022 11:15AM
30 - ARB - CD 4899 (ARB - CD 4899) (30)
December 31, 2021
Acco 9999001130
Bank Account Number:
Bank Statement Balance: 56,303.51 Book Balance Previous Month: 56,298.88 Outstanding Deposits: .00 Total Receipts: 4.63
Outstanding Checks: .00 Total Disbursements: .00
Bank Adjustments: .00 Book Adjustments: .00
Bank Balance: 56,303.51 Book Balance: 56,303.51
Outstanding Deposits
Deposit Deposit Deposit Deposit Deposit Deposit Deposit Deposit Number Amount Number Amount Number Amount Number Amount -
.00
Total: .00
Deposits cleared: 1 items Deposits Outstanding: 1 items Outstanding Checks
No outstanding checks found!
Checks cleared: 0 items Checks Outstanding: 0 items
Bank Adjustments
No bank adjustments found!
Book Adjustments
No book adjustments found!
Report Criteria:
Print Outstanding Checks and Deposits and Bank and Book Adjustments #3
DISCUSSION DRAFT
550 Howe Avenue, Suite 2110
Sacramento, California 95825
RECARSON Telephone: (916) 564-8727
FAX: (915) 564-0728
MANAGEMENT LETTER
City Council and Management
City of lone
Ione, California
In planning and performing our audit of the financial statements of the governmental activities, business- type activities, each major fund, and the aggregate remaining fund information of the City of lone (the City) for the year ended June 30, 2019, in accordance with auditing standards generally accepted in the United States of America, we considered the City's internal control over financial reporting (internal control) as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, we do not express an opinion on the effectiveness of the City's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis.
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be significant deficiencies or material weaknesses and, therefore, there can be no assurance that all such deficiencies have been identified. We did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
Risk Assessment Process
The last time the Audit/Financial Reporting Risk Assessment committee met was April of 2015. The formal risk assessment process to identify risks within the City that could result in fraud or material misstatement of the financial statements, and then implementation of internal controls to mitigate those identified risks was last addressed at this meeting. We recommend a process be developed whereby the annual budget process be expanded to include a discussion of any risk areas for fraud or material misstatement. In addition, the City should include an item on the staff meeting agenda at least annually to discuss any areas where employees feel there is a risk of fraud occurring.
Development Deposits
The City needs to ensure that as part of the year-end closing process, impact fees for permits issued prior to June 30 are recognized as impact fee revenue.
Capital Assets
The City should document the depreciable lives that should be used to depreciate each type of capital asset owned and a description of capital versus noncapital expenditures/expenses in its Financial Policies and Procedures Handbook.
City Council
lone, California
The capital asset detail list should be re-sorted to have assets in order of the capital asset footnote with subtotals to match the footnote to make it easier to reconcile the capital assets detail list to the financial statements. Separate accumulated depreciation accounts should be added for each depreciable asset type Vacation and Sick Leave Payment at Separation
The City should more clearly document in the Employee Handbook whether sick leave and vacation is fully or partially payable at separation.
Other Recommendations
A number of interfund advance payments were deferred in the past. It would be inappropriate not to repay interfund advances of restricted development fees and other restricted funds timely and with interest. The City should review the advance agreements to make sure the repayment terms are feasible and then should make the required payments as scheduled.
Pension and OPEB contribution expenditures should be recorded in separate expense accounts so they are available to reconcile to the deferred outflows for payments after the measurement date reported in the financial statements. The payable for the last payroll of the year should be separately recorded in these accounts so they represent accrual basis expenditures.
We noted a capital fee was discussed in the Sewer Fund rate study that was not approved in the resolution approving the current Sewer Fund charges for service rates. If a capital fee is necessary, it should be approved separately when Sewer Rates are approved. This is typically accomplished by creating a rate schedule and attaching the rate schedule to the Council Resolution approving the rates. We also noted the current rates were approved many years ago and the Sewer Fund does not have a minimum of two years of operating expenditures in unrestricted net position as recommended by the Government Finance Officers Association. Most water districts we audit have a minimum of three to six months of operating expenses in unrestricted net position to protect against unexpected revenue shortfalls or unexpected expenses that may occur. We recommend the City employ a rate setting expert to review Sewer Fund rates.
We noted the fiscal year 2022 budget discussed a number of improvements that are intended to be made to the budget document in the future. We also recommend a table be added showing each fund name, fund number and a description of the purpose of the fund, including the fund type and purpose of any revenue recorded in the fund and whether the revenue is restricted by an external source or committed or assigned internally.
The City should establish a fund to account for government-wide adjustments for governmental activities as shown in the trial balance provided to City management to support the government-wide financial statements.
We recommend the City add a direct link to the approved Council meeting minutes on the City's website on the date of the meeting to make it easier to find approved minutes. Currently minutes are attached to the agenda of subsequent Council meetings, which takes time to find. *****
This communication is intended solely for the information and use of the City Council, management, and others within the organization, and is not intended to be, and should not be, used by any other than these specified parties.
City Council
lone, California
_ 2019
DISCUSSION DRAFT
50 Howe Avenue, Suite 210
Sacramento, California 95825
& COMPANY LIP Telephone: (916) 564-8727
FAX: (916) 564-8728
CERTIFIED PUBLIC ACCOUNTANTS
GOVERNANCE LETTER
To the City Council
City of lone
lone, California
We have audited the financial statements of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information of the City of Ione, California (the City), for the year ended June 30, 2019, and have issued our report thereon dated 2022. Professional standards planned scope and timing of our audit. We have communicated such information in our engagement letter following information related to our audit.
Our Responsibility under U.S. Generally Accepted Auditing Standards and Government Auditing Standards
As stated in our engagement letter dated February 8, 2019, our responsibility, as described by professional standards, is to express opinions about whether the financial statements prepared by management with your oversight are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principles. Our audit of the financial statements does not relieve you or management of your As part of our audit, we will consider the internal control of the City. Such considerations are solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control.
As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we will also perform tests of the City's compliance with certain provisions of laws, regulations, contracts, and grants. However, providing an opinion on compliance with those provisions is not an objective of our audit.
Generally accepted accounting principles provide for certain required supplementary information (RSI) to supplement the basic financial statements. Our responsibility with respect to management's discussion and analysis, which supplements the basic financial statements, is to apply certain limited procedures in accordance with generally accepted auditing standards. However, the RSI will not be audited and, because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any Planned Scope and Timing of the Audit
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, our audit involves judgment about the number of transactions to be examined and the areas to be tested.
To the City Council
Our audit will include obtaining an understanding of the entity and its environment, including internal control, sufficient to assess the risks of material misstatement of the financial statements and to design the nature, timing, and extent of further audit procedures. Material misstatements may result from (1) errors, (2) fraudulent financial reporting, (3) misappropriation of assets, or (4) violations of laws or governmental regulations that are attributable to the entity or to acts by management or employees acting on behalf of the entity. We noted no material weaknesses in internal controls as a result of our audit.
Significant Audit Matters
Qualitative Aspects of Accounting Practices
Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the City are described in Note A to the financial statements. No new accounting policies were adopted and the application of existing policies were not changed during the year. We noted no transaction entered into by the City during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period.
Accounting estimates are an integral part of the financial statement prepared by management and are based on management's knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimates affecting the City's financial statements were determining the depreciable lives and methods used for capital assets, the determination of the need for an allowance for uncollectible accounts, the determination of qualifying expenses under grant agreements and the determination of net pension and OPEB liabilities. We evaluated the key factors and assumptions used to develop the estimates in determining that they are reasonable in relation to the financial statements taken as a whole. The net pension liability was determined by an actuarial valuation performed by CalPERS and net OPEB liability was determined by a private actuary.
Certain financial statement disclosures are particularly sensitive because of their significance to financial statement users. The most sensitive disclosures in the financial statements were the disclosures about advances between funds in Note C, long-term liabilities in Note E, the pension plan in Note H, the OPEB plan in Note I, commitments and contingencies in Note K and the correction of errors in Note M to the financial statements.
The financial statement disclosures are neutral, consistent, and clear.
Difficulties Encountered in Performing the Audit
We encountered no significant difficulties in dealing with management in performing and completing our audit.
Corrected and Uncorrected Misstatements
Professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that are clearly trivial, and communicate them to the appropriate level of management. We 56 adjustments and closing entries during the audit. The adjustments were mainly cut- off of revenues and expenses, entries to classify amounts for reporting purposes, government-wide entries for governmental activities that were not reported in the City's general ledger, a true-up of the net investments in capital assets and the restatements discussed in Note M to the financial statements.
Disagreements with Management
To the City Council
For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing natter, whether or not resolved to our satisfaction, that could be significant to the financial statements o1 the auditor's report. We are pleased to report that no such disagreements arose during the course of our audit.
Management Representations
We have requested certain representations from management that are included in the management representation letter dated _ 2019.
Management Consultations with Other Independent Accountants In some cases, management may decide to consult with other accountants about auditing and accounting natters, similar to obtaining a "second opinion" on certain situations. If a consultation involves applicatior if an accounting principle to the City's financial statements or a determination of the type of auditor' opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other accountants.
Issues Discussed Prior to Retention of Independent Auditors We generally discuss a variety of matters, including the application of accounting principles and auditing standards, with management each year prior to retention as the City's auditors. However, these discussions occurred in the normal course of our professional relationship and our responses were not a condition to our retention.
Other Matters
We applied certain limited procedures to the required supplementary information (RSI) listed in the table of contents, which are RSI that supplements the basic financial statements. Our procedures consisted of inquiries of management regarding 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 did not audit the RSI and do not express an opinion or provide any assurance on the RSI.
We were engaged to report on the Combining and Individual Statements, which accompany the financial statements but are not RSI. With respect to this supplementary information, we made certain inquiries of management and evaluated the form, content, and methods of preparing the information to determine that the information complies with the accounting principles generally accepted in the United States of America, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or to the financial statements themselves.
Restriction on Use
This information is intended solely for the use of the City Council and management of the City and is not intended to be, and should not be, used by anyone other than these specified parties. _, 2022
DRAFT
CITY OF IONE, CALIFORNIA
Audited Financial Statements, Supplemental Information
and Compliance Report
June 30, 2019
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CITY OF IONE, CALIFORNIA
Audited Financial Statements, Supplemental Information and Compliance Report June 30, 2019
Table of Contents
INDEPENDENT AUDITOR'S REPORT...... ... 1
MANAGEMENT'S DISCUSSION AND ANALYSIS ...4
BASIC FINANCIAL STATEMENTS
GOVERNMENT-WIDE FINANCIAL STATEMENTS:
Statement of Net Position.. ....9
Statement of Activities.. ........ 10
FUND FINANCIAL STATEMENTS:
Governmental Funds:
Balance Sheets - Governmental Funds ..... 11
Reconciliation of the Governmental Funds Balance Sheets to the Government-wide Statement of Net Position. ..12
Statement of Revenues, Expenditures, and
Balances - Governmental Funds............ ...13
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the
Government-wide Statement of Activities. ..14
Proprietary Funds:
Statement of e Pension -Pension change in is Position. - ..15 Proprietary Funds - Enterprise Funds..... 16
Statement of Cash Flows - Proprietary Fund - Enterprise Funds Statement of Fiduciary Net Position - Agency Funds 18
Notes to the Basic Financial Statements .... ...19
REQUIRED SUPPLEMENTARY INFORMATION
Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis) - General Fund... .52 Statement of Revenue, Expenditures, and Changes in Fund Balance - Sped are Fund Budget and Actual (Budgetary Basis) - HOME Program Grant .. 53
Schedule of the Proportionate Share of the Net Pension Liability and Schedule of Contributions to the Pension Plan (Unaudited).. . 54 Schedule of Changes in the OPEB Liability and Related Ratios (Unaudited) 55
SUPPLEMENTAL INFORMATION
Combining Balance Sheet - Nonmajor Governmental Funds. 56 Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds . 61
Combining Schedule of Fiduciary Net Position - Agency Funds
COMPLIANCE REPORT
Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards... 67
Schedule of Findings and Responses.. 69
550 Howe Avenue, Sulte 210
Sacramento, California 95825
RCHARASO & COMPANY IP Telephone: (916) 564-3727
FAX: (916) 564-8728
CERTIFIED PUBLIC ACCOUNTANTS
INDEPENDENT AUDITOR'S REPORT
To the Honorable Mayor and
Members of the City Council
City of lone, California
We have audited the accompanying financial statements of the governmental activities, the business-type ctivities, each major fund, and the aggregate remaining fund information of the City of lone, Californi s of and for the year ended June 30, 2019, and the related notes to the financial statements, whic collectively comprise the City's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City as of June 30, 2019, and the respective changes in financial position and, where applicable, cash flows thereof, for the year then ended in accordance with accounting principles generally accepted in the United States of America.
To the City Council
City of lone, California
Correction of Errors
As discussed in Note M, certain errors resulting in the overstatement of unearned development fees and an understatement in deferred inflows of resources were discovered by management during the year ended June 30, 2019. Accordingly, amounts reported for unearned development fees deferred inflows of resources in have been restated in the June 30, 2019 financial statements now presented and adjustments have been made to fund balance of certain governmental funds, the Sewer O&M Fund and government. wide net position to correct the errors. Our opinion is not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management's discussion and analysis, budgetary comparison information, the Schedule of the Proportionate Share of the Net Pension Liability, Schedule of Contributions to the Pension Plan and Schedule of Changes in the OPEB Liability and Related Ratios, as listed in the table of contents, be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City's basic financial statements. The combining and individual nonmajor fund financial statements are presented for purposes of additional analysis and are not a required part of the basic financial statements. The combining and individual nonmajor fund financial statements are the responsibility of management and were derived from and relate directly to the underling accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated 2022 on our consideration of the City's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulation, contracts, grant agreements and other matters.
The purpose of that report is 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 internal control 2 To the City Council
City of lone, California
over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City's internal control over financial reporting and compliance.
, 2022
3 City of lone
Management's Discussion and Analysis
June 30, 2019
This discussion and analysis of the City of lone's financial statements is designed to provide an overview of the City's financial performance during the fiscal year ended June 30, 2019. This information is presented in conjunction with the audited basic financial statements, which follow this section.
Financial Highlights
• The City's net position was $48,497,904 at June 30, 2019. Net position increased $1,895,683 or 4.1%. Of the total net position, $45,211, 103 represents net investment in capital assets with the remaining restricted for specific purposes: public safety, community development, streets and roads, and capital projects.
• Total cash and investments increased $127,843 or 2.2% to $5,809,301. • As of June 30, 2019, the City's governmental funds reported combined fund balance of $4,946,029 compared to $4,447,954 in Fiscal Year 2017-18. • Fund balance of the General Fund increased $418,738 or 29.3.0% to $(563,776) as of June 30, 2019. Of the fund balance $662,453 is non-spendable reflecting advances to other funds (receivable) and the remainder in the amount of $(1,226,229) is reported as unassigned.
• The General Fund cash balance increased $159,032 or 86.7% from $183,542 to $342,574. • Projects funded by the gas tax fund include storm drains, street repairs and street improvements.
• Capital asset additions to the General Fund of $119,320 were for park improvements and a police vehicle, with Sewer Fund additions of $1,411,836 for the completion of the pond lining • The City's Proprietary Fund (sewer) net position increased $418,654 or 3.7% to $11,623,911. Cash and investments decreased $948,298 or 55.9% to $746,891 due in large part to payments for the pond lining project and increased operating costs. • The City's long-term liabilities include a note payable for purchase of a commercial lawn mower, lease for the new fire station, compensated absences, net pension liability, and net OPEB obligation. The Train Depot loan of $9,000 was paid in full during the fiscal year.
The long-term capital lease loan for Fire Station No. 2 with an original principal balance of $560,000 has an outstanding balance as of June 30, 2019 of $322,575. The City's proprietary fund (sewer) long-term liabilities consist of a long-term loan for sewer capital construction in the amount of $2,934,533 with a remaining balance of $2,851,039, compensated absences, net pension liability, and net OPEB obligation.
Overview Of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the City's basic financial statements. The City's basic financial statements comprise three components: 1) government- wide financial statements; 2) fund financial statements; and 3) notes to the basic financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.
Government-Wide Financial Statements are designed to provide readers with a broad overview of City finances, in a manner similar to a private-sector business. The Statement of Net Position 4 City of lone
Management's Discussion and Analysis
June 30, 2019
includes information on the City's assets and liabilities and provide information about the nature and amounts of investments in resources (assets) and the obligations to City creditors (liabilities). Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating. The Statement of Activities presents information showing how net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). Both of these government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (governmental activities) from other function that are intended to recover all or a portion of their costs through user fees and charges (business-type activities).
The governmental activities of the City include general government, public safety, community development, public works, streets/roads, parks/recreation; business-type activities are sewer.
Fund Financial Statements are groupings of related accounts that are used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and to demonstrate finance- related legal compliance. All of the funds of the City can be divided into three categories:
governmental funds, proprietary funds and 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 statements, governmental fund financial statements focus on near- term inflows and outflows of spendable resources, as well as of balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating the City's near-term 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 funds balance sheet and the governmental funds statement of revenues, expenditures and changed in fund balances provide a reconciliation to facilitate comparison between governmental funds and governmental activities.
The Governmental Funds Financial Statements provide detailed information about each of the City's most significant funds, called major funds. The concept of major funds, and the determination of which are major funds, was established by Governmental Accounting Standards Board (GASB) Statement 34 and replaces the concept of combining like funds and presenting them as one total. Instead, each major fund is presented individually, with all non- major funds summarized and presented only in a single column. Subordinate schedules present the details of these non-major funds. Major funds present the major activities of the City for the year, and may change from year to year as a result of changes in the pattern of the City's activities. The City's major governmental funds are: General Fund, HOME Program Grant Special Revenue Fund, and Measure M Special Revenue Fund.
Proprietary fund(s) are used to account for the services the City charges to provide which in this case is sewer. Proprietary funds are reported in the same way that all activities are reported in the Statement of Net Position and the Statement of Activities. In fact, the City's enterprise funds (a component of proprietary funds) are identical to the business type activities that are reported 5 City of lone
Management's Discussion and Analysis
June 30, 2019
in the government-wide statements, but provide more detail and additional information, such as cash flows, for proprietary funds. The City of lone previously maintained three individual enterprise funds to account for its sewer enterprises; however, is combining them in the current fiscal year as they are not required to be reported separately. The funds provide the same type of information as the government-wide financial statements, but in more detail. The proprietary fund financial statements provide separate information for the sewer, which is considered a major fund of the City.
Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government-wide financial statements ecause the resources of those funds are not available to support the City's own programs he City of lone maintains three fiduciary or agency funds: community facilities districts, asse seizure police, and regional traffic mitigation.
Notes to the 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 and can be found immediately following the basic financial statements.
Other Information. In addition to the basic financial statements and accompanying notes, this report presents certain required supplementary information concerning the City's budgetary comparative information for its major governmental funds.
Statement of Net Position
The City's net position at the end of the year was $48.5M as compared to $46.6M in the prior year, an increase of $1.9M. Governmental activities net position increased by $1.5MM or 4.2% and the business-type activities net position increased by $419K or 3.7%. The increase in governmental net position is primarily due to an increase in revenues and a decrease in expenditures. The increase in business-type net position is due to the lack of a prior period adjustment of $584K in the prior fiscal year.
$1,222,375$8,574,002 $ 8,764,199 $ 190,197
57.168,992 57,168,992 72,654,370 127.1%
(954,768) -95.4%
Total Deferred Outflows of Resources
(1,494,930) -70.3%
Noncurrent liabilities
10,521.921 (6,639,686)
Deferred Inflows of Resources:
(264,821) -91.2%
Total Deferred Infows of Resources
Net investment in capital assets
9,044,075 6620.8%
(6,105,821) (7,845,171) 402.0%
Total Net Position 335,396.964 $36.873,993 511.205,257 $11,623,911 546,602,221 S48,497,904 City of lone
Management's Discussion and Analysis
June 30, 2019
Statement of Activities
Governmental Activities revenues were comparable to the prior year with an increase of $61,571, or 1.2%. Expenses increased from the prior year by $476,418, or 12.3%, primarily due to increased public safety with $190,770 of that in Measure M funded expenses.
Governmental Activties Variance
Revenues: FY 17/18 FY 18/19 Amount %
Taxes $1,813,936 51,954,685 $140,749 7.8%
Charges for services 1,667,184 1,078,824 $588,360 -35.3% Operating grants/contributions 760,586 820,432 $59,846 7.9% Capital grants/contributions 652,778 1,032,856 $380,078 58.2% Other Revenue 47,059 35,688 -$11,371 -24.2%
Investment Income 67,144 147,773 80,629 120.1%
Total Revenues 5,008,687 5,070,258 61,571 1.2%
Expenses:
General govemment 709,209 667,548 (41,661) -5.9%
Public safety 1,851,551 2,473,724 622,173 33.6%
Community development/Parks 328,390 446,873 118,483 36.1% Public works 721,706 638,025 (83,681) -11.6%
Streets and roads 252,397 86,113 (166,284) 65.9%
Interest on debt 14,295 41,683 27,388 191.6%
Total Expenses 3,877,548 4,353,966 476,418 12.3%
Change in Net Position 1,131,139 716,292 (414,847) -36.7% Net position, beginning of year (restated) 34,737,731 36,157,701 1,419,970 Prior period adjustment (471,906) 471,906 -100.0%
Net position, end of year $35,396,964 536,873,993 $1,477,029 4.2% Business-type Activities revenues reflect a decrease primarily in capital contributions (impact fees and connection fees) with an overall decrease of $680,690, or (26.8%). Expenses increased from the prior year by $366, 197, or 23.6%, primarily due to increased operating expenses related to sewer maintenance.
Business-Type Activities Variance
Revenues: FY 17/18 FY 18/19 Amount %
Charges for services $1,250,291 $1,286,739 $36,448 2.9% Capital grants/contributions 1,273,005 540,576 (732,429) -57.5% Investment Income 27,608 124.1%
Total Revenues 2.535.613 1,854,923 (680,690) -26.8%
Expenses:
Nastewater 1,481,206 1,849,372 368,166 24.9%
terest on debi 69,934 67,965 (1,969) -2.8%
Total Expenses 1,551,140 1,917,337 366.197 23.6%
Change in Net Position 984,473 (62,414) (1,046,887) -106.3% Net position, beginning of year (restated) 10,805,168 11,686,325 881,157 Net posion, on or year (584,384) 584,384 -100.0%
311.205.257 S11.623.911 $418,654 3.7%
General Fund Budget
The City adopts an annual budget that includes operating costs, staffing, vehicles, and capital expenditures. Actual revenues were $455,091 higher than the final budget amounts in taxes, licenses/fees/permits, interest income, intergovernmental revenue, and charges for services. 7 City of lone
Management's Discussion and Analysis
June 30, 2019
The final budget for expenditures reported in the General Fund was $100,979 lower than actual expenditures in facilities, capital outlay, and debt service.
Capital Assets
The City's investment in capital assets, net of depreciation, for its governmental and business- type activities were $48.4 million as of June 30, 2019 and $47.8 million as of June 30, 2018, respectively. Major governmental capital asset additions during the year were $119,320 for park improvements and a police vehicle. Additions in business-type activities were $1,411,836 for completion of the sewer system pond lining project. More detail of the capital assets and current transactions can be found in Note E of the Financial Statements.
Long-Term Debt
The City's long-term liabilities are for capital acquisitions/improvements, compensated absences, pension liability, and OPEB obligation. As of June 30, 2019, the City's long-term liabilities for governmental and business-type activities are $5.1 million and $3.2 million, respectively. More detail of the long-term liabilities and current transactions can be found in Note F of the Financial Statements.
Economic Factors and Future Budgets
The City of lone experienced significant building within the City in the years following this audit.
With this, City revenues have increased which facilitates improvement of the City's financial condition. In Fiscal Year 2021-2022, the City implemented measures to address overall financial sustainability including a repayment plan for interfund loans and enhanced transparency. This will provide the community with a better understanding of City activities and related financial impacts.
Requests For Information
This financial report is designed to provide a general overview of the City's finances for all of its citizens, taxpayers, customers, investors and creditors. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the City of lone, Finance Department, 1 East Main Street, lone, CA 94Placerville, CA 95640. 8 BASIC FINANCIAL STATEMENTS
CITY OF IONE
GOVERNMENT-WIDE STATEMENT OF NET POSITION
June 30, 2019
Governmental Business-type
Activities Activities Total
ASSETS
Cash and investments $ 5,190,253 $ 746,891 $ 5,937,144
Receivables:
Accounts receivable 258,822 146,076 404,898
Due from other governments 296,209 10,822 307,031
Interest receivable - investments 5,003 5,003
Interest receivable - loans receivable 438,582 438,582
Loans receivable 1,613,965 1,613,965
Internal balances (309,955)
Deposits with others 48,945 57,576
Capital assets:
Nondepreciable 29,705,757 5,745,969 35,451,726
Depreciable, net 4,436,033 8,517,034 12,953,067
Total Capital Assets 34,141,790 14,263,003 48,404,793
Total Assets 41,683,614 15,485,378 57,168,992
DEFERRED OUTFLOWS OF RESOURCES
Pension plan 831,082 47,040 878,122
Other post employment benefits (OPEB) plan 46,937 3,344 50,281 Total Deferred Outflows of Resources 878,019 50,384 928,403
LIABILITIES
Accounts payable and other liabilities 187,435 560,119 747,554 Accrued payroll and benefits 40,770 35,793 76,563
Due to other governments 1,966 1,966
Accrued interest payable 24,590 24,590
Unearned revenues 6,656 6,656
Refundable deposits 5,459 13,371
Noncurrent liabilities - current portion 114,380 93,731 208,111 Noncurrent liabilities - noncurrent portion 5,021,115 3,155,887 8,177,002 Total Liabilities 5,373,578 3,882,235 9,255,813
DEFERRED INFLOWS OF RESOURCES
Pension plan 199,664 21,467 221,131
OPE plan 114,398 8,149 122,547
Total Deferred Inflows of Resources 314,062 29,616 343,678
NET POSITION
Net investment in capital assets 33,799,139 11,411,964 45,211,103 Restricted for public safety 2,066,129 2,066,129
Restricted for community development 2,804,621 2,804,621 Restricted for streets and roads 1,389,075 : 1,389,075
Restricted for capital projects 2,920,850 2,920,850
Unrestricted (6,105,821) 211,947 (5,893,874)
Total Net Position $ 36,873,993 $ 11,623,911 $ 48,497,904 The accompanying notes are an integral part of these financial statements.
CITY OF IONE
GOVERNMENT-WIDE STATEMENT OF ACTIVITIES
For the Year Ended June 30, 2019
Program Revenues Net (Expense) Revenue and
Operating Changes in Net Position
Charges for Grants and Capital Grants Governmental Business-type FUNCTIONS AND PROGRAMS Expenses Contributions & Contributions Activities Activities Total
PRIMARY GOVERNMENT
GOVERNMENTAL ACTIVITIES
General government - S (556,338)
Public safety (996,892)
Community development (293,196)
Public works (98,575)
Streets and roads 454,842
Parks and recreation 109,988
Interest on long term debt 41,683 (41,683) (41,683)
Total Govermental Activities 4,353,966 1,078,824 820,432 1,032,856 (1,421,854) (1,421,854)
BUSINESS-TYPE ACTIVITIES
Sewer Fund 1,917,337 1,286,739 540,576 (90,022) (90,022) Total Buisness-type Activities 1,917,337 1,286,739 540,576 (90.022) (90,022) TOTAL PRIMARY GOVERNMENT $ 6,271,303 _ $ 2,365,563 $ 1,573,432 (1,421,854) (90,022) (1,511,876) General Revenues:
Taxes:
Property taxes 765,250 765,250
Sales and use taxes 191,514 191,514
Transient occupancy tax 835 835
Franchises 99,571 99,571
Motor vehicle in-lieu tax 897,515 897,515
Other revenue 35,688 35,688
Investment income 147,773 27,608 175,381
Total General Revenues 2,138,146 27,608 2,165,754
Change in Net Position 716,292 (62,414) 653,878
t Position, Beginning of Yea
previously report 35,396,964 11,205,257 46,602,221
Restatement 760,737 481,068 1,241,805
Net Position, Beginning of Year -
as restated 36,157,701 11,686,325 47,844,026
Net Position, End of Year § 36,873,993 S. 11,623.911 S 48,497,904 The accompanying notes are an integral part of these financial statements. 10 CITY OF IONE
BALANCE SHEETS
GOVERNMENTAL FUNDS
June 30, 2019
Major Funds
HOME
Program
Grant Measure M
Special Special Nonmajor Total
General Revenue Revenue Governmental Governmental
Fund Fund Fund Funds Funds
ASSETS
Cash and investments $ 342,574 $ 360,786 $ 360,654 $ 4,126,239 $ 5,190,253 Receivables:
Accounts receivable 249,243 9,579 258,822
Due from other governments 81,992 : 54,720 159,497
296,209
Interest receivable - investments 5,003 5,003
Interest receivable - loans receivable 351,377 . 87,205 438,582 Loans receivable 1,162,688 - 451,277 1,613,965
Deposits with others 46,614 2,331 48,945
Due from other funds 53,886 - 53,886
Advances to other funds 662,453 346,414 1,780,602 2,789,469 Total Assets $ 1,441,765 S 1,874,851 $ 761,788 $ 6,616,730 $ 10.65,134
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCE
LIABILITIES
ccounts payable and other liabilitie $ 179,018 - 8,417 $ 187,435 crued payroll and benefit 34,640 6,130 40,770
Due to other funds 53,886 53,886
Due to other govemments 1,966 1,966
Refundable deposits 7,912 - 7,912
Advances to other funds 1,572,167 1,527,257 3,099,424
Total Liabilities 1,793,737 1,597,656 3,391,393
DEFERRED INFLOWS OF RESOURCES
211,804 93,361 305,165
351,377 : 87,205 438,582
1,162,688 451,277 1,613,965
Total Deferred Inflows of Resources 211,804 1,514,065 631,843 2,357,712 Fund balances:
Nonspendable 662,453 662,453
Restricted for public safety 307060 761,788 1,248,393 2,010,181 Restricted for community development 391,288 752,074
Restricted for streets and roads : 1,354,699 1,354,699
Restricted for capital projects : 2,920,850 2,920,850
Unassigned (1,226,229) (1,527,999) (2,754,228)
Total Fund Balances (563,776) 360,786 761,788 4,387,231 4,946,029 Total Liabilities, Deferred Inflows
of Resources and Fund Balances $ 1,441,765 § 1,874,851 $ 761,788 $ 6,616,730 $ 10,695,134 The accompanying notes are an integral part of these financial statements. 11 CITY OF IONE
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEETS
TO GOVERNMENT-WIDE STATEMENT OF NET POSITION
June 30, 2019
Total Fund Balances of Governmental Funds $ 4,946,029
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets, net of accumulated depreciation, are not current financial resources and are not included in the governmental funds. 34,141,790 Deferred outflows of resources related to the City's pension and OPEB plans will reduce the net pension and OPEB liabilities in the future. 878,019 Deferred inflows for unavailable revenue in governmental funds are recognized in the government-wide statements. 2,357,712
Long-term liabilities are not due and payable in the current period and, therefore, are not reported on the governmental funds balance sheet. (5,135,495) Deferred inflows of resources related to the City's pension and OPEB plans will be reflected in the net pension and OPEB liabilities in the future. (314,062) Net Position of Governmental Activities $ 36,873,993
The accompanying notes are an integral part of these financial statements. 12 CITY OF IONE
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -
GOVERNMENTAL FUNDS
For the Year Ended June 30, 2019
Major Funds
HOME
Program
Grant Measure M
Special Special Nonmajor Total
General Revenue Revenue Governmental Governmental
Fund Fund Fund Funds Funds
REVENUES:
Taxes $ 1,043,540 $ $ 5,363 $ 1,048,903
Impact fees : 393,159 744,922
- 1,138,081
Licenses, fees and permits 256,517 256,517
Use of money and property 134,470 8,268 57,159 199,897
Intergovernmental revenues 937,524 665,186 1,602,710
Fines, forfeitures and penalties 550 15,001 15,551
Charges for services 110,029
167,974 407,173 685,176
Other 22,966 1,000 81,795 105,761
Total Revenues 2,563,541 512,456 1,976,599 5,052,596
EXPENDITURES
Current:
General government 602,194 - - 602,194
Public ways and facilities/
transportation 448,530 329,245 777,775
Public safety 882,996 : 524,580 381,780 1,789,356
Parks and recreation 298,935 195 299,130
Capital outlay 20,370 : 98,949 119,319
Debt Service:
Principal 43,924 28,734 72,658
Interest 28,485 13,198 41,683
Total Expenditures 2,325,434 524,580 852,101 3.702,115
Excess (Deficiency) of Revenues
Over (Under) Expenditures 238,107 (12,124) 1,124,498 1,350,481
OTHER FINANCING SOURCES (USES)
Proceeds from insurance
Transfers in 1,353,098 345,728
(8.191) - (1,693,635) (1,698,826)
Total Other Financing Sources (Uses) 1,353,098
Net Change in Fund Balances 233,738 1,353,098 (12,124) (223,409) 1,351,303 and Balances, Beginning of Year -
revously report (797,514) 170,376 773,912 4,301,180 4,447,954 Restatement (1,162,688) 309,460 (853,228)
Fund Balances, Beginning of Year - as
restated (797,514) (992,312) 773,912 4,610,640 3,594,726 Fund Balances, End of Year $ (563,776) $ 360,786 $ 761,788 $ 4,387,231 $ 4,946,029 The accompanying notes are an integral part of these financial statements. 13 CITY OF IONE
RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF
REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
TO THE GOVERNMENT-WIDE STATEMENT OF ACTIVITIES
For the Year Ended June 30, 2019
Net Change in Fund Balances - Total Governmental Funds $ 1,351,303 Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures and proceeds from disposals of capital assets as revenues. However, in the government-wide statement of activities, the cost of those assets is allocated over their estimated useful lives as depreciation expense and gains or losses on disposals of capital assets is reported.
Depreciation expense (458,202)
Capital outlay 119,319
Some receivables are deferred in the governmental funds because the amounts do not represent current financial resources that are recognized under the accrual basis in the statement of activities. This amount represents the change in deferred inflows of resources related to unavailable revenue. 17,040 Deferred outflows and inflows of resources of related to the City's pension and OPEB plans do not result in the receipt or use of current financial resources and are not reported in the governmental funds as follows:
Change in deferred outflows of resources - pension plan (113,686) Change in deferred outflows of resources - OPEB plan 13,316 Change in deferred inflows of resources - pension plan 65,157 Change in deferred inflows of resources - OPEB plan (114,398) Changes in the long-term liabilities reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported in governmental funds. Principal payments are reported as expenditures in governmental funds, but are reported as a reduction of the liability in the statement of net position. These amounts represents the changes in long-term liabilities:
Changes in long-term debt 72,658
Change in compensated absences liability 25,331
Change in net pension liability 108,879
Change in net OPEB liability (370,425)
Change in Net Position of Governmental Activities $ 716,292 The accompanying notes are an integral part of these financial statements. 14 CITY OF IONE
STATEMENT OF NET POSITION
PROPRIETARY FUNDS - ENTERPRISE FUNDS
June 30, 2019
Sewer Sewer Sewer Total
Sewer Capital CDCR Capital Tertiary Plant Enterprise
Fund Fund Fund Fund Funds
ASSETS
Current Assets:
Cash and cash equivalents $ 746,891 $ - - $ 746,891
Receivables:
Accounts receivable 146,076 146,076
Due from other governments 10,822 10,822
Deposits with others 8,631 8,631
Total Current Assets 912,420 -
912,420
Noncurrent Assets:
Advances to other funds 309,955 309,955
Capital assets:
Nondepreciable 5,745,969 5,745,969
Depreciable, net 8,517,034 8,517,034
Total capital assets 14,263,003 14,263,003
Total Assets 15,485,378 15,485,378
DEFERRED OUTFLOWS OF RESOURCES
Pension plan 47,040 47,040
OPEB plan 3,344 3,344
Total Deferred Outflows of Resurces 50,384 50,384
LIABILITIES
Current Liabilities:
Accounts payable and other liabilities 560,119 560,119
Accrued payroll and benefits 35,793 35,793
Interest payable 24,590 24,590
Unearned revenues 6,656 6,656
Refundable deposits 5,459 5,459
Noncurrent liabilities - current portion 93.731 93,731
Total Current Liabilities 726,348 726,348
Noncurrent Liabilities:
Noncurrent liabilities - noncurrent portion 3,155,887 3,155,887 Total Noncurrent Liabilities 3,155,887 : 3,155,887
Total Liabilities 3,882,235 3,882,235
DEFERRED INFLOWS OF RESOURCES
Pension plan 21,467 21,467
OPE plan 8,149 8,149
Total Deferred Inflows of Resources 29,616 : 29,616
NET POSITION
Net investment in capital assets 11,411,964 - 11,411,964 Unrestricted 211,947 211,947
Total Net Position $ 11,623,911 - $ 11623,911
The accompanying notes are an integral part of these financial statements.
CITY OF IONE
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
PROPRIETARY FUNDS - ENTERPRISE FUNDS
For the Year Ended June 30, 2019
Sewer Sewer Sewer Sewer Total
0& M Capital CDCR Capital Tertiary Plant Enterprise
Fund Fund Fund Fund Funds
OPERATING REVENUES
Charges for services $ 1,273,365 $ - - $ 1,273,365
Other 13,374 13,374
Total Operating Revenues 1,286,739 1.286,739
OPERATING EXPENSES
Salaries and benefits 211,819 211,819
Services and supplies 1,309,772 : .... 1,309,772
Depreciation 327,781 P... 327,781
Total Operating Expenses 1,849,372 1,849,372
Operating Income (Loss) (562,633) (562,633)
NON OPERATING REVENUES (EXPENSES)
Investment income 27,608 27,608
Interest expense (67,965) (67,965)
otal Nonoperating Revenues (Expense: (40,357) (40,357)
come (Loss) Before Capital Contributions and Transfe (602,990) (602,990)
CAPITAL CONTRIBUTIONS AND TRANSFERS
Connection fees 540,576 540,576
Transfers in 136,600 2,494,807 467,306 3,098,713
Transfers (out) (2,962,113) (136,600) (3,098,713)
Net Capital Contributions and Transfers (2,284,937) 2,494,807 (136,600) 467,306 540,576 Change in Net Position (2,887,927) 2,494,807 (136,600) 467,306 (62,414) Net Position, Beginning of Year - as Previously Reported 14.511.838 (2,975,875) 136,600 (467,306) 11,205,257 Net Pain, Begining of Year - as Retated 481,068 481,068 14,511,838 (2,494,807) 136,600 (467,306) 11,686,325
Net Position, End of Year $ 11,623,911 $ - $ 11,623,911 The accompanying notes are an integral part of these financial statements. 16 CITY OF IONE
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS - ENTERPRISE FUNDS
For the Year Ended June 30, 2019
Sewer Sewer Sewer Sewer
0& M Capital CDCR Capital Tertiary Plant Total
Cash Flows from Operating Activities:
Cash received from customers $ 1,217,045 $
Cash payments to suppliers (863,188) :: $863,45 (863,188) Cash payments to employees (254,813) (254,813)
Cash Provided by Operating Activities 99,044 99,044
Cash Flows from Noncapital and Financing Activities:
Amounts received from (paid to) other funds 16,936 (136,600) (119,664) Cash used for Noncapital and Financing Activities 16,936 (136,600) (119,664) Cash Flows from Capital and Related Financing Activities:
Purchase of capital assets (1,343,683) - (1,343,683)
Connection fees 540,576 540,576
Principal payments on long-term debt (83,494) (83,494)
Interest paid on debt (68,685) (68,685)
Cash used for Capital and Related Financing Activities (955,286) (803,107) Cash Flows from Investing Activities:
Interest income 27,608 27,608
Cash used for Investing Activities 27,608 27,608
(811,698) (136,600) (948,298)
1,558,589 136,600 1,695,189
Cash and Cash Equivalents, End of Year 746,891 $ $ 746,891 Reconciliation of Operating Income to Net Cash
Provided (Used) by Operating Activities:
Operating income $ (562,633) - $ - S - (562,633)
Adjustments to Operating Income:
Depreciation 327,781 - 327,781
Construction in process abandoned 140,545 140,545
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable (65,643) (65,643) (Increase) decrease in due from other governments (10,822) (10,822) (Increase) decrease in deferred outflows of resources 11,717 11,717 Increase (decrease) in accounts payable and other liabilities 306,039 306,039 Increase (decrease) in accrued payroll and benefits 30,692 30,692 Increase (decrease) in unearned revenues 6,656 6,656
Increase (decrease in refundable deposits 115 - 115
Change in pension, OPEB and compensated absence: (89,324) - (89,324) Change in deferred inflows of resource 3,921 3,921
Cash Provided by Operating Activities $ 99,044 $ $ 99,044
CHANGES IN NONCASH INVESTING, CAPITAL AND FINANCING ACTIVITIES Change in accounts payable for capital purchases 68,153 $ 68,153 Construction in process abandoned $ 140,545 $ 140,545
The accompanying notes are an integral part of these financial statements. 17 CITY OF IONE
STATEMENT OF FIDUCIARY NET POSITION -
AGENCY FUNDS
June 30, 2019
Total
ASSETS
Cash and investments $ 350,037
Accounts receivable 1,038
Cash and investments with fiscal agent 498,696
Total Assets $ 849,771
LIABILITIES
Refundable deposits $ 46
Due to others 849,725
Total Liabilities $ 849,771
The accompanying notes are an integral part of these financial statements. 18 NOTES TO THE BASIC FINANCIAL STATEMENTS
CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2019
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
safety, highways and streets, sewer, culture-recreation, public improvements, planning and zoning, and general administrative services. The voters of the City of Colfax, California, give authority and 1987, the GASB issued a codification of the existing Governmental Accounting and Financial Reporting Standards which, along with subsequent GASB pronouncements (Statements and Interpretations), constitutes GAAP for governmental units. The more significant of these accounting policies are described below.
Reporting Entity
The City operates as a self-governing local government unit within the state of California. It has limited authority to levy taxes and has the authority to determine user fees for the services that it provides.
Voters elect a city council that passes laws and determines broad policies. The council also oversees the operations of the City and approves all budgets, fund transfers and fund balance reserves. The City's main funding sources include property taxes, sales taxes, other inter-governmental revenue from state and federal sources, user fees, and federal and state financial assistance.
Basis of Presentation
Government-wide and Fund Financial Statements: The government-wide financial statements (i.e., the statement of net position and statement of activities) report information on all nonfiduciary activities of the primary government and its component units. For the most part, the effect of interfund activity has been removed from these statements. 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 support.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a business-type activities. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services and privileges provided by a given function or segment, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues.
The accounts of the City are organized on the basis of funds. A fund is a separate self-balancing set of accounts. Each fund was established for the purpose of accounting for specific activities in accordance with applicable regulations, restrictions or limitations. Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the last is excluded from the 19 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) overnment-wide financial statements. Major individual governmental funds and major individu nterprise funds are reported as separate columns in the fund financial statement Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they are collected within 90 days of the end of the current fiscal period, with the exception of property taxes. Property taxes are considered to be available if they are collected within 60 days of the current fiscal period. Amounts received after the availability period are reported as unavailable revenues. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments are recorded only when payment is due.
Major revenues that are determined to be susceptible to accrual include property taxes and assessments, sales taxes, franchise taxes, charges for services, intergovernmental revenues, and earnings on investments. Sales taxes collected and held by the state at year end on behalf of the government are also recognized as revenue. Other receipts and taxes become measurable and available when cash is received by the government and are recognized as revenue at that time. Entitlements and shared revenues (government mandated nonexchange transactions) are recognized when the City has satisfied all applicable eligibility requirements and if the amounts are measurable. If the grant funds are received before the revenue recognition criteria are satisfied, the unearned amounts are reported as unearned revenue.
The City reports the following major governmental funds:
General Fund - The General Fund is the primary operating fund of the City. It accounts for all financial resources of the general government, except those required to be accounted for in another HOME Program Grant Special Revenue Fund - This fund accounts for low- and moderate-income loans made using HOME program grant funds. Several sub-funds for grants made during individual years were combined into one single fund during the year-ended June 30, 2019.
Measure M Special Revenue Fund - This fund accounts for revenues and expenditures for firefighter related activities funded by the Measure M tax that was approved by voters in Amador County in 2008.
The City reports the following major enterprise fund:
Sewer Enterprise Fund - This fund accounts for the operation of the City's sewer utility. Activities of this fund includes administration, operation and maintenance of the water and sewer systems and billing and 20 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) collection activities. The Fund also accumulate resources for future expansion. All costs are financed through charges made to utility customers and developers with rates reviewed regularly and adjusted if necessary to ensure the integrity of the Funds. Several sub-funds were combined into one Sewer Fund during the year ended June 30, 2019.
Additionally, the City reports the following fund types:
GOVERNMENTAL FUNDS
Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of specific revenue sources (not including private purpose trusts or major capital projects) that are legally pric proced or seit restricted to expenditures for specified purposes.
Capital Projects Funds - The Capital Projects Funds are used to account for financial resources used for the acquisition or construction of major capital facilities other than those financed by proprietary funds.
PROPRIETARY FUNDS
Enterprise Funds - Enterprise funds are used to account for operations that are financed and operated in manner similar to private business enterprises. Costs are financed or recovered primarily through user charges.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the City's enterprise fund are charges to customers or other funds for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.
When both restricted and unrestricted resources are available for use, it is the City's policy to use restricted resources first, then unrestricted resources as they are needed.
FIDUCIARY FUNDS
Agency Funds - Agency Funds are used to account for assets held by the City in a purely custodial capacity. Agency funds typically involve only the receipt, temporary investment and remittance of fiduciary resources to individuals, private organizations or other governments. The City's agency funds account for Community Facility Districts used for conduit debt owed by property owners, regional traffic mitigation funds and police asset seizure funds. Asset seizure funds are seized by the Police Department and held until the assets are forfeited or returned to the owner. The regional traffic mitigation funds are distributed to the Amador County Transportation Planning Agency for regional traffic mitigation Cash and Cash Equivalents: The City's cash and cash equivalents are defined as cash on hand, demand deposits, and short-term investments with original maturities of three months or less, that are readily convertible to known amounts of cash and not subject to significant changes in value from interest rate fluctuations, including the City's investment in California Local Agency Investment Fund (LAIF), money market mutual funds and certificates of deposits.
21 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) locations of Investment Income Among Funds: Investment income is allocated to funds required t bouty basi based athe erected average cash inalame in each kundreding nes allocated on Receivables and Payables: Sales, use, and utility user taxes related to the current fiscal year are accrued measurable and available. Unbilled utility revenue earned is recognized as revenue and accounts receivable in the enterprise funds when the related service is performed.
Long-term loans in governmental funds represent low-and-moderate income housing loans under the HOME and CDBG programs, as described in Note D. Loans are recognized as receivables and deferred inflows of resources in governmental funds as the loans do not represent current available financial Non-current interest receivable on the loans are also offset with deferred inflows for unavailable revenues are they are generally due when the related property is sold and do not represent resources available for appropriation.
Restricted Assets: Certain proceeds of long-term debt are classified as restricted assets on the balance sheet because their use is limited by applicable bond covenants. The "reserve" account is used to report resources set aside to make up potential future deficiencies in the bond's debt service. Certain unspent debt proceeds are restricted to specific capital projects by the applicable debt covenant. The City also collects impact fees in the Sewer Fund that are restricted for certain capital replacement activities.
Property Taxes: The County of Amador (the County) is responsible for the collection and allocation of property taxes. Under California law, property taxes are assessed and collected by the County up to 1% of the full cash value of taxable property, plus other increases approved by the voters and distributed in accordance with statutory formulas. The City recognizes property taxes when the individual installments are due, provided they are collected within 60 days after year end. Secured property taxes are levied each July 1 on the assessed values as of January 1 of the prior year. These taxes are paid in two equal installments; the first is due November 1 and become delinquent with penalties after December 10; the second is due February 1 and become delinquent with penalties after April 10. Secured property taxes, which are delinquent and unpaid as of June 30, are declared to be tax defaulted and are subject to redemption penalties, costs and interest when paid. These taxes are secured by liens on the property being taxed.
The term "unsecured" refers to taxes on personal property other than land and buildings. Property tax revenues are recognized in the fiscal year for which they are levied, provided they are due and collected within sixty days after fiscal year-end. Unsecured property taxes are levied each July 1 on the assessed values as of January 1 of the prior year. They become delinquent on August 31. The County apportions secured property tax revenue in accordance with the alternate methods of distribution, the "Teeter Plan," as prescribed by Section 4717 of the California Revenue and Taxation code. Therefore, the City receives 100% of the secured property tax levies to which it is entitled, whether or not collected. Unsecured delinquent taxes are considered fully collectible. These taxes are accrued as intergovernmental receivables only if they are received from the County within 60 days after year end for the governmental funds and are accrued when earned for government- wide presentation regardless of the timing of the 22 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) related cash flows.
governmental funds used to acquire or construct them. Capital acquisitions are reflected as expenditure a the governmental fund, and the related assets are reported in the government-wide financial statement Caps arest and ded iated sing the staig dine me tod over the following uses fives capital ases.
Buildings 20-30 years
Building improvements 10-15 years
Site improvements 15-20 years
Equipment and machinery 3-20 years
Infrustructure 7-50 years
It is the policy of the City to capitalize all land, building, improvements, equipment, and infrastructure assets with an initial, individual cost of more than $5,000. Costs of assets sold or retired and the resulting gain or loss is included in the operating statement of the related proprietary fund. In governmental funds, the sale of general capital assets is included in the statement of revenues, expenditures and changes in fund balances as proceeds from sale. The proceeds reported in the governmental fund are eliminated and the gain or loss on sale is reported in the government-wide presentation.
Deferred Outflows and Inflows of Resources: In addition to assets and liabilities, the statement of financial position reports a separate section for deferred outflows and deferred inflows of resources.
Deferred outflows of resources represent a consumption of net position by the government that is applicable to a future reporting period. Deferred inflows of resources represent an acquisition of net position that is applicable to a future reporting period. These amounts will not be recognized as an outflow of resources (expenditure/expense) or an inflow of resources (revenue) until the earnings process is complete. The governmental funds report unavailable revenues for grants, loans receivable, accrued interest on loans receivable and other revenues when the amounts meet the asset recognition criteria under GASB 33 and were accrued as receivables, but the amounts were not received in the availability period.
Deferred outflows and inflows of resources include amounts deferred related to the City's pension plan under GASB 68 and the City's OPE Plan under GASB 75 as described in Notes H and I.
Compensated Absences: It is the City's policy to permit employees to accumulate earned but unused vacation based on classification and length of service. Vacation is accrued when incurred in the government-wide presentation and in the proprietary funds and reported as a fund liability. Amounts that are expected to be liquidated with expendable available financial resources, for example, as a result of employee resignations or retirements that are currently payable, are reported as expenditures and a fund liability of the governmental fund that will pay it. Amounts not expected to be liquidated with expendable available financial resources represent a reconciling item between the fund and government- wide presentation. No expenditure is reported in the governmental fund financial statements for these amounts.
City employees are granted vacation in varying amounts based on classification and length of service 23 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) from 80 to 192 hours per year and may accumulate a maximum of 240 hours. The City Manager may City pays 100% of the vacation time accrued. Sick leave is accrued from 80 to 96 hours per year and is capped at 960 hours. Sick leave is not payable at retirement except for one management employee who aximum of 40 hours in lieu of overtime, which is included in compensated absences. Department hea e provided 5 davs of administrative leave per fiscal vear, which is not payable at separation and is n Interfund Transactions: Activity between funds that is representative of lending/borrowing arrangements outstanding at the end of the fiscal year is referred to as either "due to/from other funds" (i.e., the current portion of interfund loans) or "advances to/from other funds" (i.e., the non-current portion of interfund loans). Any residual balances outstanding between the governmental activities and business-type activities are reported in the government-wide financial statements as "internal balances." Advances between funds are reported as nonspendable fund balance in governmental funds to indicate they do not constitute resources available for appropriation.
Unearned Revenues: Unearned revenues arise when resources are received by the City before it has legal claim to them (i.e. when cost reimbursement grant revenues are received prior to the incurrence of qualifying expenditures) or when exchange revenues are received before the exchange takes place, such as unearned developer deposits for permitting and plan checks.
Long-term Debt: The proceeds of long-term debt of governmental funds are reported at face value (net of premium or discount) in the government-wide financial statements as other financing sources and represent a reconciling item between the fund and government-wide presentation. Certain other governmental fund obligations not expected to be financed with current available financial resources are also reported in the government-wide financial statements and represent a reconciling item between the fund and government-wide presentation. Long-term debt and other obligations financed by proprietary funds are reported as liabilities in the related proprietary fund. Issuance costs, even if withheld from the actual net proceeds received, are reported as expenditures/expenses of the governmental or proprietary fund.
Pension and Other Postemployment Benefits (OPEB) Plan: For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to the pension plan, and pension expense, information about the fiduciary net position of the Commission's California Public Employee's Retirement System (CalPERS) plan (Plan) and additions to/deductions from the Plan's fiduciary net position have been determined on the same basis as they are reported by CaPERS. For this purpose, benefit payments (including refunds of employee contributions are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the plan and additions to/deductions from the plan's fiduciary net position have been determined on the same basis as they are reported by the Plan. For this purpose, the plan recognizes benefit payments when due and payable in accordance with the benefit terms. Investments are reported at fair value. 24 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) The General Fund and Sewer Enterprise Fund are used to liquidate the net pension liability and net OPEB liability.
Fund Balance: In the fund financial statements, governmental funds report nonspendable, restricted ommitted, assigned and unassigned fund balance
Nonspendable - Fund balance should be reported as nonspendable when the amounts cannot be spent because they are either not in spendable form or are legally or contractually required to be maintained intact. Nonspendable balances are not expected to be converted to cash within the next operating cycle, which comprise prepaid items and long-term receivables.
Restricted - Fund balance should be reported as restricted when constraints placed on the use of resources are either externally imposed by creditors, grantors, contributors, or laws or regulations of other governments, or imposed by law through constitutional provisions or enabling legislation.
Committed - Fund balance should be reported as committed when the amounts can only be used for specific purposes pursuant to constraints imposed by formal action of the government's highest level of decision-making authority, the City Council. These amounts cannot be used for any other purpose unless the City Council modifies or removes the fund balance commitment.
Assigned - Fund balance should be reported as assigned when the amounts are constrained by the government's intent to be used for specific purposes but are neither restricted nor committed.
Unassigned - Unassigned fund balance is the residual classification of the City's funds and includes all spendable amounts that have not been restricted, committed, or assigned to specific purposes.
Net Position: The government-wide and proprietary fund financial statements present net position. Net position is categorized as the net investment in capital assets, restricted and unrestricted Net Investment in Capital Assets - This category groups all capital assets into one component of net position. Accumulated depreciation and the outstanding balances of debt that are attributable to the acquisition, construction or improvement of these assets reduce the balance in this category.
Restricted Net Position - This category presents external restrictions imposed by creditors, grantors, contributors or laws or regulations of other governments and restrictions imposed by law through constitutional provisions or enabling legislation. The purpose of each restriction is reported on the face of the statement of net position.
Unrestricted Net Position - This category represents net position of the City not restricted for any project or other purpose.
The City Council establishes, modifies or rescinds fund balance commitments and assignments by passage of a resolution. When both restricted and unrestricted resources are available for use, it is the ty's policy to use restricted resources first, then unrestricted, committed, assigned and unassign sources as they are needed. The City's committed. assigned, or unassigned amounts are considered have been spent when an expenditure is incurred for purposes for which amounts in any of those unrestricted fund balance classifications could be used. 25 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Use of Estimates: The preparation of the financial statements in conformity with generally accepted Actual results could differ from those estimates.
All budget amounts presented in the accompanying financial statements have been adjusted for legally authorized revisions of the annual budgets during the year. Appropriations, except open project appropriations, and unexpended grant appropriations, lapse at the end of each fiscal year. Amounts shown in the financial statements represent the original budgeted amounts and all supplemental appropriations. The supplemental appropriations were immaterial. The budgetary data is prepared on the modified accrual basis consistent with the related "actual" amounts. The City does not use encumbrance accounting.
Excess Expenditures Over Appropriations: The following funds had excess expenditures and transfers out over appropriations:
Excess Over
Fund Appropriations
General Fund $ 106,170
Measure M Special Revenue Fund 366,181
Nonmajor Governmental Funds:
Ione District 1 COIC Special Revenue Fund 12,362
Restricted Police Special Revenue Fund 182,779
Restricted Fire Special Revenue Fund 1,713
Fund Balance Deficits: The General Fund, Safer Grant Fund, Fire Services Impact Fees Fund and the Governmental Impact Fees Fund have fund balance deficits of $563,766, $3,775, $983,143 and $541,081, respectively. The deficit in the General Fund will be eliminated by future tax and other revenues and/or reductions in future expenditures. The deficits in the impact fees funds will be eliminated by the collection of future impact fees.
New Pronouncements: In November 2016, the GASB issued Statement No. 83, Certain Asset Retirement Obligations. This Statement addresses accounting and financial reporting for certain asset retirement obligations (AROs). This Statement requires that recognition occur when the liability is both incurred and reasonably estimable. The determination of when the liability is incurred should be based on the occurrence of external laws, regulations, contracts, or court judgments, together with the occurrence of an internal event that obligates a government to perform asset retirement activities. The requirements of this Statement are effective for periods beginning after June 15, 2019. 26 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In January 2017, the GASB issued Statement No. 84, Fiduciary Activities. This Statement establishes criteria for identifying fiduciary activities of all state and local governments. The focus of the criteria generally is on (1) whether a government is controlling the assets of the fiduciary activity and (2) the beneficiaries with whom a fiduciary relationship exists. Separate criteria are included to identify fiduciary component units and postemployment benefit arrangements that are fiduciary activities. This Statement describes four fiduciary funds that should be reported, if applicable: (1) pension (and other employee benefit) trust funds, (2) investment trust funds, (3) private-purpose trust funds, and (4) custodial funds.
The requirements of this Statement are effective for reporting periods beginning after December 15, 2019.
In June 2017, the GASB issued Statement No. 87, Leases. This Statement increases the usefulness of governments' financial statements by requiring recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. Under this Statement, a lessee is required to recognize a lease liability and an intangible right-to-use lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources. A lease is defined as a contract that conveys control of the right to use another entity's nonfinancial asset as specified in the contract for a period of time in an exchange or exchange-like transaction. Examples of nonfinancial assets include buildings, land, vehicles, and equipment. Any contract that meets this definition should be accounted for under the leases guidance, unless specifically excluded in this Statement. The requirements of this Statement are effective for reporting periods beginning after June 15, 2021.
In April 2018, the GASB issued Statement No. 88, Certain Disclosures Related to Debt, Including Direct Borrowings and Direct Placements. This Statement improves the information that is disclosed in the notes to government financial statements and clarifies which liabilities governments should include when disclosing information related to debt. This Statement requires that additional essential information related to debt be disclosed in notes to financial statements, including unused lines of credit; assets pledged as collateral for the debt; and terms specified in debt agreements related to significant events of default with finance-related consequences and significant subjective acceleration clauses. For notes to the financial statement there is a requirement that existing and additional information be provided for direct borrowings and direct placements of debt separately from other debt. The requirements of this Statement are effective for the reporting periods beginning after June 15, 2019.
In June 2018, the GASB issued Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period. This Statement enhances disclosures about capital assets and the cost of borrowing for a reporting period and simplifies the accounting for interest cost incurred before the end of a construction period. Interest cost incurred before the end of a construction period will be recognized as an expense rather than being recorded as part of the cost of capital assets in a business-type activity or enterprise fund and interest cost incurred by a fund using the current financial resources measurement focus before the end of a construction period should be recognized as an expenditure on a basis consistent with governmental fund accounting principles. The requirements of this Statement are effective for the reporting periods beginning after December 15, 2020.
In May 2019, the GASB issued Statement No. 91, Conduit Debt Obligations. The Statement indicates an issuer of a conduit debt obligation should not report a liability for the conduit debt obligation, but requires an issuer to report a liability associated with an additional commitment or a voluntary commitment to support the debt. Additional commitments by an issuer to support the debt include extending a moral 27 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) obligation pledge, appropriation pledge or financial guarantee or pledging the issuer's own property, revenue or assets as security for the debt. Under a voluntary commitment, the issuer does not make an additional commitment, but on a voluntary basis decides to make a debt service payment or request an appropriation for a debt service payment in the event that the third party is, or will be, unable to do so.
The Statement also provides criteria for issuers to determine whether they should record assets acquired or constructed with proceeds of arrangements identified as leases related to conduit debt obligations. The requirements of this Statement are effective for the reporting periods beginning after December 15, 2021.
In March 2020, the GASB issued Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements. This Statement addresses issues related to public-private and public- public partnership arrangements (PPPs). PPPs are arrangements in which a government (the transferor) contracts with an operator (a governmental or nongovernmental entity to provide public services by conveying control of the right to operate or use a nonfinancial asset, such as infrastructure or other capital asset (the underlying PPP asset), for a period of time in an exchange or exchange-like transaction. This statement requires that PPPs that meet the definition of a lease apply guidance in Statement No. 87, Leases, as amended, if existing assets of the transferor that are not required to be improved by the operator as part of the PPP arrangement are the only underlying PPP assets and the PPP does not meet the definition of a service concession arrangement. This Statement provides accounting and financial reporting requirements for all other PPPs: those that either (1) meet the definition of an SCA or (2) are not within the scope of Statement No. 87, as amended. This Statement also provides guidance for accounting and financial reporting for availability payment arrangements that include an arrangement in which a government compensates an operator for services that may include designing, constructing, financing, maintaining, or operating an underlying nonfinancial asset for a period of time in an exchange or exchange-like transaction. This Statement is effective for reporting periods beginning after June 15, 2022.
In May 2020, the GASB issued Statement No. 96, Subscription-Based Information Technology Arrangements (SBITA). This Statement 1) defines the term SBITA; 2) establishes that a SBITA results in a right-to-use subscription asset - an intangible asset - and a corresponding subscription liability; 3) provides the capitalization criteria for outlays other than subscription payments, including implementation costs to a SBITA; and 4) requires note disclosures regarding a SBITA. To the extent relevant, the standards for SBITA are based on the standards established in Statement No. 87, Leases, as amended.
This statement is effective for fiscal years beginning after June 15, 2022.
In June 2020, the GASB issued Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans. This Statement requires for the purposes of determining whether a primary government is financially accountable for a potential component unit, except for a potential component unit that is a defined contribution plan, a defined contribution OPEB plan, or an other employee benefit plan (for example, certain Section 457 plans, the absence of a governing board should be treated the same as the appointment of a voting majority of a governing board if the primary government performs the duties that a governing board typically would perform. This Statement also requires that the financial burden criterion in paragraph 7 of Statement No. 84, Fiduciary Activities, be applicable to only defined benefit pension plans and defined benefit OPEB plans that are administered through trusts that meet the criteria in paragraph 3 of Statement No. 67, Financial Reporting for Pension Plans, or paragraph 3 of Statement No. 74, 28 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, respectively. This The City is currently analyzing the impact of the required implementation of these new statements.
NOTE B - CASH AND INVESTMENTS
The City follows the practice of pooling cash and investments of all funds. Cash represents cash on hand, emand deposits in the bank and amounts invested in the State of California Local Agency Investmen und (LAÍF). Cash and investments at June 30, 2019 are classified in the accompanying financia statements as follows:
Governmental Business-Type Fiduciary
Activities Activities Funds Total
Cash and cash equivalents $ 5,190,253 $ 746,891 $ 350,037 $ 6,287,181 Restricted cash 498,696 498,696
$ 5,190,253 746,891 848,733 $ 6,785,877
As of June 30, 2019, the City's cash and investments consisted of the following:
Cash on hand $ 242
Deposits in financial institutions 5,127,212
California Local Agency Investment Fund 782,931
Certificate of deposit 257,038
Money market mutual funds 618,454
Total cash and investments $ 6,785,877
Investment policy: The table below identifies the investment types that are authorized for the City of lone (City) by the California Government Code (or the City's investment policy, where more restrictive). The table also identifies certain provisions of the California Government Code (or the City's investment policy, where more restrictive that address interest rate risk, credit risk and concentration of credit risk.
This table does not address investments of debt proceeds held by bond trustees that are governed by the provisions of debt agreements of the City, rather than the general provisions of the California Government Code or the City investment policy.
29 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE B - CASH AND INVESTMENTS (Continued)
Maximum
Percentage Maximum
Maximum Minimum on Dollar Investment
Maturity Rating of Portfolio in One Issuer
U.S. Treasury obligations 5 years* N/A None None
U.S. agency securities 5 years* N/A None None
Bankers acceptances 270 days AA 40% 30%
Commercial paper 180 days A1/P1 15% 10%
Commercial paper 31 days A1/P1 40% 10%
Time deposits 3 years* NA None None
Negotiable certificates of deposit 3 years * AA 30% None Repurchase Agreements 1 year N/A None None
Medium term notes 5 years AA 30% None
Money market mutual funds 5 years AA 15% 10%
Mutual funds 5 years AAA 15% 10%
Local Agency Investment Fund (LAIF) 5 years N/A None None * Maximum term unless expressly authorized by City Council and within prescribed time frames for the approval.
The City complied with the provisions of California Government Code pertaining to the types of investments held, institutions in which deposits were made and security requirements. The City will continue to monitor compliance with applicable statutes pertaining to public deposits and investments.
Interest Rate Risk: Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. The City's investment in LAIF has an average maturity of 173 days.
12 Months 13 to 24 25 to 60
Investment Type Total or Less Months Months
LAIF $ 782,931 $ 782,931 $ $
Certificate of deposit 257,038 155,461 101,577
Money market mutual fund 618,454 618,454
Total Investments $ 1,658,423 $ 1,556,846 $ 101,577
Custodial Credit Risk: Custodial credit risk for deposits is the risk that, in the event of the failure of a lepository financial institution, a government will not be able to recover its deposits or will not be able to ecover collateral securities that are in the possession of an outside party. The California Government 30 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE B - CASH AND INVESTMENTS (Continued)
insurance and $5,140,512 was covered by the pledging financial institution with assets held in a common pool for the City and other governmental agencies.
State Treasurer. Of that amount, 1.77% was invested in structured notes and asset-backed securities. The Local Investment Advisory Board (Board) has oversight responsibility for LAIF. The Board consists of five members as designated by State Statute. The fair value of the City's investment in this pool is reported in the accompanying financial statements at amounts based upon the City's pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis.
Credit Risk: Generally, credit risk is the risk that an issue of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization as follows:
Rating as of
Minimum Year End
Investment Type Total Rating AAA Not Rated
LAIF 782,931 N/A $ 782,931
Certificate of deposit 257,038 N/A 257,038
Money market mutual funds 618,454 AA 618,454
Total Investments $ 1,658,423 $ 618,454 $ 1,039,969
Fair Value Measurements: 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. 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's investment in LAIF, non-negotiable certificates of deposit and money market mutual funds are not subject to fair value measurements or are measured at the net asset value of the underlying investments.
NOTE C - INTERFUND TRANSACTIONS
Current Interfund Balances
Due From Other Funds Due to Other Funds Amount
General Fund Non-Major Governmental Funds $ 53,886
Total due to/from other funds $ 53,886
31 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE C - INTERFUND TRANSACTIONS (Continued)
This balance resulted from the time lag between the dates that interfund goods and services are provided or reimbursable expenditures occur. All interfund receivables are expected to be paid back within the next fiscal year.
Long-Term Interfund Advances
At June 30, 2019, the funds below had made advances which were not expected to be repaid within the next year. The funds with the advance to other funds report nonspendable fund balance to indicate the mounts are not available for appropriation.
Advances to Other Funds Advances From Other Funds Amount General Fund Non-Major Governmental Funds $ 662,453 (a) Measure M Fund General Fund 346,414 (b)
Sewer Enterprise Fund General Fund 309,955 (c)
Non-Major Governmental Funds General Fund 915,798 (d)
Non-Major Governmental Funds 864,804 (e)
$ 3,099,424
(a) The General Fund advanced $375,000 to the General Plan Impact Fees Fund and $287,453 to the Fire Impact Fees Fund to fund construction and expansion of capital facilities. Reimbursement from the General Plan Impact Fees Fund and Fire Impact Fees Fund is expected to be made from future development impact fees.
(b) The Measure M Fund advanced $346,414 to the General Fund to cover the structural deficit in the General Fund. A resolution adopted on December 6, 2011 indicates that total amount of advanced monies owed to the Measure M Fund will be repaid on a semi-annual basis over the next ten years at an interest rate of 1% per annum. As of June 30, 2019, the City has reimbursed the Measure M Fund $14,209.
(c) The Sewer Enterprise Fund advanced $244,800 to the General Fund to be reimbursed by the General Fund at such time as the Howard Property Trust redeems sewer connection fees credits and/or annexation per the agreement between the City and Howard Property Trust and $65,155 of Amador Regional Sanitation Agency Funds were transferred by the Sewer Fund to the General Fund to be repaid as funds become available.
(d) Various non-major governmental funds advanced $915,798 to the General Fund as follows:
(1) $535,797 was advanced to the General Fund to cover the City's structural deficit in the General Fund from the Local Transportation Commission Fund. A resolution adopted on December 6, 2011 indicates the total amount of advanced monies owed to the City's Local Transportation Commission Fund will be repaid on a semi-annual basis over the next ten years at an interest rate of 1% per annum. As of June 30, 2019 the City's General Fund has reimbursed the Local Transportation Commission Fund $22,251.
(2) $200,001 was advanced to the General Fund from the Gas Tax Fund to cover the structural City's deficit in the General Fund. As of June 30, 2019, the City's General Fund has reimbursed the Gas Tax Fund $8,229.
32 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE C- INTERFUND TRANSACTIONS (Continued)
(3) On October 2, 2018, $180,000 was advanced from the Local Traffic Mitigation Fund to the General Fund to cover a legal settlement. Currently no repayment schedule has been established to reimburse the Traffic Mitigation Fund.
(e) Various non-major governmental fund advanced $864,804 to non-major governmental funds as follows:
(1) Impact Police Fund advanced $796,804 to the Impact Fees-General Plan and Impact Fees Fire Funds to fund fire station construction.
(2) Gas Tax Fund advanced $43,000 to Impact Fees - General Plan Fund to fund a structural deficit in the Impact Fees - General Plan Fund.
(3) Impact Fees - General Administration Fund advanced $25,000 to Impact Fees Fire Fund to fund fire station construction.
Interfund Transfers
Fund Receiving Transfer Fund Making Transfer Amount
Non-Major Governmental Funds General Fund $ 5,191 (a)
HOME Program Grant Special Revenue Fund Non-Major Governmental Funds 1,353,098 (b) Sewer Enterprise Fund Sewer Enterprise Fund 3,098,713 (c) Non-Major Governmental Funds Non-Major Governmental Funds 340,537 (a) $ 4,797,539
(a) The $5,191 transfer from the General Fund to Non-Major Governmental Funds and the transfers within the Non-Major Governmental Funds was to move resources from the fund receiving the resources to the fund expending the resources.
) The transfer from Non-Major Governmental Funds to the HOME Program Grant Speci evenue Fund was to combine a number of HOME program grant funds for reporting purpose (c) The transfers within the Sewer Fund were to combine the funds into one fund for reporting purposes.
NOTE D - LOANS RECEIVABLE
At June 30, 2019, the City had the following loans receivable outstanding:
CDBG First Time Home Buyer $ 397,416
HOME Program 1,162,688
CDBG Housing Rehabilitation Program 32,815
Other 21,046
Loans, net $ 1,613,965
33 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE D - LOANS RECEIVABLE (Continued)
CDBG First Time Home Buyer
The City administers a First Time Homebuyer Loan Program that provides low interest rate second mortgage loans to eligible home buyers to assist in the purchase of a home. Loans carry interest at 3% or are interest free. Funding for this program is provided through the Community Development Block Grant Program.
HOME Program
The City provides loans to qualified first time buyers through the federally funded HOME Program.
Under this program, principal and interest payments are deferred until the loan is refinanced or title to the property changes. These loans carry a 2% or 3% interest rate with a maturity of 30 years.
CDBG Housing Rehabilitation Program
The City administers a Housing Rehabilitation Loan Program using the federal Housing and Community Development Act funds. Under this program, residents with incomes below a certain level are eligible to receive low interest loans secured by deeds of trust for rehabilitation of their homes. These loans carry interest rates of 2% or 3% and are generally due upon transfer of the home or refinancing.
NOTE E - CAPITAL ASSETS
Governmental capital assets activity for the year ended June 30, 2019 was as follows:
Balance at Balance at
June 30, 2018 Additions Retirements Transfers June 30, 2019 Capital assets, not being depreciated:
Land $ 29,696,609 $ $ $ $ 29,696,609
Construction in progress 9,148 9,148
Total capital assets,
not being depreciated 29,696,609 9,148 29,705,757
Capital assets, being depreciated:
Buildings and improvements 3,395,120 3,395,120
Site improvements 1,084,997 89,80 i : 1,174,798
Vehicles and equipment 2,629,443 20,370 2,649,813
2,959,806 2,959,806
Total capital assets,
being depreciated 10,069,366 110,171 10,179,537
(1,448,127) (73,089) (1,521,216)
(637,109) (49,322) : (686,431)
Vehicles and equipment (1,954,892) (202,085) (2,156,977) Infrastructure (1,245,174) (133,706) (1,378,880)
Total accumulated depreciation (5,285,302) (458,202) (5,743,504) Capital assets being
depreciated, net 4,784,064 (348,031) 4,436,033
GOVERNMENTAL ACTIVITIES
CAPITAL ASSETS, NET $ 34,480,673 $ (338,883) $ $ - $ 34,141,790 34 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE E - CAPITAL ASSETS (Continued)
Depreciation expense for governmental capital assets was charged to functions as follows:
General governmental $ 49,980
Public safety 209,090
Public works 19,888
Streets 73,696
Community development 15684
Parks 89,864
Total governmental activities depreciation expense $ 458,202 Business-type capital assets activities for the year ended June 30, 2019 was as follows:
Balance at Balance at
June 30. 2018 Additions Retirements Transfers June 30, 2019 Capital assets, not being depreciated:
3,873,444 $ $ $ $ 3,873,444
Construction in progress 2,486,437 19,577 (140,545) (492,944) 1,872,525 Total capital assets,
not being depreciated 6,359,881 19,577 (140,545) (492,944) 5,745,969 Capital assets, being depreciated:
Buildings and improvements 1,460,112 1,460,112
Site improvements 446,396 : 446,396
Vehicles and equipment 660,007 660,007
Infrastructure 8,995,864 1,392,259 492.944 10,881,067
Total capital assets,
being depreciated 11,562,379 1,392,259 492,944 13,447,582 Less accumulated depreciation for:
Buildings and improvements (872,313) (35,756) (908,069) Site improvements (389,196) (4,400) (393,596)
Vehicles and equipment (527,037) (24,388) (551,425)
Infrastructure (2,814,221) (263,237) (3,077,458)
Total accumulated depreciation (4,602,761) (327,781) (4,930,548) Capital assets being
depreciated, net 6,959,612 1,064,478 492,944 8.517,034
BUSINESS-TYPE ACTIVITIES
CAPITAL ASSETS, NET $ 13,319,493 $ 1,084,055 S (140,545) $ $ 14,263,003 Depreciation expense for business-type capital assets was charged to the Sewer functions. 35 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE F - LONG-TERM LIABILITIES
Long-term liability activity for the year ended June 30, 2019 was as follows:
Balance Balance Due Within
June 30, 2018_ Additions Payments June 30, 2019 One Year Governmental Activities:
Vote payable $ 55,000 $ (34,924) $ 20,076 $ 12,576
'apital least 351,309 (28,734) 322,575 30,070
Train Depot loan 9,000 11.633 (9,000)
Compensated absences 141,411 (66,964) 116,080 71,734
Pension liability 2,603,582 234,116 (342,995) 2,494,703 -
OPE obligation 1,811,636 370,425 2,182,061
Governmental activities
long-term liabilities $ 4,971,938 $ 646,174 $ (482,617) $ 5,135,495 $ 114,380 Business-Type Activities:
I - Bank Installment loan $ 2,934,533 $ - $ (83,494) $ 2,851,039 85,431 Compensated absences 4,094 (4,770) 8,300 8,300
Pension liability (12,089)
OPEB obligation 245,137
Business-type activities
long-term liabilities $ 3,422,436 (190,046) $ 3,249,618 Long-term debt of the City's governmental activities consists of the following as of June 30, 2019:
Note Payable: On June 6, 2018 the City received a loan from American River Bank in the amount of $55,000 to purchase a commercial lawn mower for City parks. Payments of $1,048 are due quarterly with nterest at 5.06% from September 25, 2018 to June 25, 2023. On January 1, 2019, the City made a dditional principal payment of $25,000 resulting in a final payment due on March 25, 2021 Capital Lease: On August 28, 2008 the City entered into a capital lease in the principal amount of the termination value as stipulated in the lease agreement.
Train Depot Loan: On June 29, 2012 the City received $45,000 from Jackson Rancheria for relocation of the train depot to City owned property. The loan was due in yearly installments of $9,000 per year through the year ended June 30, 2019.
36 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE F- LONG-TERM LIABILITIES (Continued)
Payments due on the loan payable are as follows:
Fiscal Year Ended June 30 Principal Interest Total
2020 $ 12,576 $ 783 $ 13,359
2021 7,500 190 7,690
Totals $ 20,076 $ 973 $ 21,049
Payments on the capital lease are due as follows:
Fiscal Year Ended June 30
2020 $ 41,932
2021 41,932
2022 41,932
41,932
2024 41,932
2025-2029 172,452
Total minimum lease payments 382,112
Less: Amount representing interest (59,537)
Present value of minimum lease payments $ 322,575
Long-term debt of the City's business-type activities consists of the following as of June 30, 2019:
Fiscal Year Ended June 30 Principal Interest Total
2020 $ 85,431 $ 58,132 $ 143,563
2021 87,413 56,343 143,756
2022 89,441 54,513 143,954
2023 91,516 52,640 144,156
2024 93,639 50,724 144,363
2025-2029 501,806 223,281 725,087
2030-2034 562,779 168,246 731,025
2035-2039 631,162 106,525 737,687
2040-2044 707,852 37,303 745,155
Totals $2,851,039 807,707 $ 3,658,746
37 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE F - LONG-TERM LIABILITIES (Continued)
Pledged Revenue: The City has pledged net sewer enterprise system revenue to repay the $3,250,000 Installment Sale Agreement through August 1, 2043. Annual debt service principal and interest payments are expected to require less than 90% of net sewer enterprise system revenues. Total remaining principal and interest payments are disclosed in the table above. Total cash basis principal and interest payments made during the year ended June 30, 2019 were $143,374 and net sewer enterprise system revenues were $333,332.
NOTE G - CONDUIT DEBT
During the year ended June 30, 1990, the City of lone created two Community Facilities Districts (CFDs) that issued conduit debt. The City Council and management are responsible for the administration of the Community Facilities Districts formed under the provisions of Mello-Roos, but the City is not obligated to repay the special assessment debt issued by the CFDs. On August 16, 2006, the CFD No. 2005-1 and 2005-2IA No. 1 and 2005-2IA No. 2 of the City of Ione 2006 Special Tax Refunding Bonds were issued to refund 1989-1 and 1989-2 Bonds. The 2006 Bonds are payable solely from special tax revenues collected by the CFDs. The City has no direct or implied obligation to repay the conduit debt.
The amount of the special assessment debt with no City commitment outstanding at June 30, 2019 was as follows:
2018 Special Tax Refunding Bonds (Community Facilities District 2005-2, Improvement Area No. 1) $ 2,625,674 2006 Special Tax Refundning Bonds (Community Facilities District 2005-2, Improvement Area No.3) 4,385,000 Total $ 7,010,674
NOTE H - PENSION PLAN
A. General Information about the Defined Benefit Pension Plan Plan Description
All qualified permanent and probationary employees are eligible to participate in the City's Cost-Sharing Multiple Employer Defined Benefit Pension Plan (the Plan or PERF) administered by the California Public Employees' Retirement System (CalPERS). PERFC consists of a miscellaneous risk pool and a safety risk pool, which are comprised of the following rate plans:
• Miscellaneous Rate Plan
• Miscellaneous Second Tier Rate Plan
• PEPRA Miscellaneous Rate Plan
• Safety Rate Plan
• Safety Second Tier Rate Plan
• PEPRA Safety Police Rate Plan
Although one Plan exists, CaPERS provides the information separately for the Miscellaneous and Safety Risk Pools and the information is presented separately below where available. Benefit provisions under the Plan are established by State statute and City resolution. CalPERS issues publicly available reports 38 CITY OF IONE, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS (Continued)
June 30, 2019
NOTE H- PENSION PLAN (Continued)
that include a full description of the pension plans regarding benefit provisions, assumptions and membership information that can be found on the CaPERS website at www.calpers.ca.gov Public Employees' Retirement Law. The Plan's provisions and benefits in effect at June 30, 2019, are summarized as follows:
Miscellaneous PEPRA
Miscellaneous Second Tier Miscellaneous
Rate Plan Rate Plan Rate Plan
Prior to August 13, 2011 to On or after
Hire date August 13, 2011 December 31, 2012 January 1, 2013 Benefit formula (at full retirement) 2.5% @55 2.0% @55 2.0% @62 Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments monthly for life monthly for life monthly for life Retirement age 50-55 50 - 63 52-67
Monthly benefits, as a % of eligible compensation 2.0% to 2.7% 1.426% to 2.418% 1.0% to 2.5% Required employee contribution rates 8.00% 7.00% 6.25%
Required employer contribution rates 10.022% 7.634% 6.842% Safety PEPRA
Safety Second Tier Safety
Rate Plan Rate Plan Rate Plan
Prior to August 13, 2011 to On or after
August 13, 2011 December 31, 2012 January 1, 2013
Benefit formula (at full retirement) 3.0% @50 3.0% @55 2.7% @57 Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments monthly for life monthly for life monthly for life Retirement age 50 - 55 50-55 50-57
Monthly benefits, as a % of eligible compensation 3.00% 2.40% to 3.00% 2.00% to 2.70% Required employee contribution rates 9.00% 9.00% 11.50% Required employer contribution rates 19.416% 17.614% 12.141% All rate plans except the PEPRA rate plans are closed to new members that are not already CaPERS participants. All miscellaneous rate plans are combined and reported below as the Miscellaneous Risk Pool and all safety rate plans are combined and reported below as the Safety Risk Pool.
Contributions: Section 20814(c) of the California Public Employees' Retirement Law requires that the mployer contribution rates for all public employers be determined on an annual basis by the actuary an hall be effective on the July 1 following notice of a change in the rate. Funding contributions for the ris pools are determined annually on an actuarial basis as of June 30 by CaPERS. The actuarially determined 39