La Palma City Council
January 14, 2025

City of La Palma
Schedule of Changes in The Net OPEB Liability and Related Ratios Last Ten Years*
Fiscal Year Ended June 30, 2024
Fiscal Year Ended 06/30/20 06/30/19 06/30/18
Measurement Period 06/30/19 06/30/18 06/30/17
Plan Fiduciary Net Position as a Percentage of the
Total OPEB Liability 73.49% 65.37% 55.99%
Covered - Employee Payroll 4,892,914 $ 4,536,000 $ 4,482,000 $ Net OPEB Liability as a Percentage of CoveredEmployee Payroll 15.32% 20.96% 26.48% Notes to Schedule:

Benefit Changes:

There were no changes in benefits.

Changes in Assumptions:

There were no changes in assumptions for measurement periods ended June 30, 2017, 2018, and 2020. For measurement period ended June 30, 2019: Demographic assumptions updated, PEMCHA waived retiree re-election change, and mortality improvement scale updated. 99

City of La Palma
Schedule of Plan Contributions - Other Postemployment Benefit Plan Last Ten Years*
Fiscal Year Ended June 30, 2024
Fiscal Year Ended 06/30/24 06/30/23 06/30/22 06/30/21
Actuarially Determined Contribution 68,202 $ 66,360 $ 156,409 $ 151,843 $ Contributions in Relation to the
Actuarially Determined Contributions (236,902) (333,679) (507,627) (351,624) Contribution Deficiency (Excess) (168,700) $ (267,319) $ (351,218) $ (199,781) $ Covered - Employee Payroll 4,621,811 $ 4,559,070 $ 4,283,615 $ 5,215,770 $ Contributions as a Percentage of
Covered-employee Payroll 5.13% 7.32% 11.85% 6.74%
Notes to Schedule:

Valuation Date 6/30/2021 6/30/2020 6/30/2019 6/30/2018
Methods and Assumptions Used to Determine
Contribution Rates:

Actuarial Cost Method Entry Age Entry Age Entry Age Entry Age Amortization Method a a a a
Amortization Period 13 Years 14 Years 17 Years 17 Years Asset Valuation Method (2) (2) (2) (2)
Discount Rate 6.25% 6.25% 6.75% 6.75%
Inflation 2.50% 2.50% 2.75% 2.75%
Medical Trend - c
Non-Medicare 6.50% - 3.75% 6.50% - 3.75% 7.25% - 4.0% 7.25% - 4.0% Medicare 5.65% - 3.75% 4.6% - 3.75% 6.3% - 4.0% 6.3% - 4.0% Mortality ffee
a Level percentage of pay.
b Investment gains and losses spread over 5-year rolling period. c Rate decreasing to an ultimate rate in 2076 and later years. d CalPERS 1997-2011 experience study. Mortality projected fully generational Scale MP-2016. e CalPERS 1997-2015 experience study. Mortality projected fully generational Scale MP-2018. f CalPERS 1997-2015 experience study. Mortality projected fully generational Scale MP-2021. * Fiscal year 2018 was the first year of implementation; therefore, only seven years are shown. 100

City of La Palma
Schedule of Plan Contributions - Other Postemployment Benefit Plan (Continued) Last Ten Years*
Fiscal Year Ended June 30, 2024
Fiscal Year Ended 06/30/20 06/30/19 06/30/18
Actuarially Determined Contribution 147,412 $ 116,000 $ 167,000 $ Contributions in Relation to the
Actuarially Determined Contributions (358,815) (374,824) (376,687) Contribution Deficiency (Excess) (211,403) $ (258,824) $ (209,687) $ Covered - Employee Payroll 4,823,377 $ 4,892,914 $ 4,536,000 $ Contributions as a Percentage of
Covered-employee Payroll 7.44% 7.66% 8.30%
Notes to Schedule:

Valuation Date 6/30/2017 6/30/2016 6/30/2015
Methods and Assumptions Used to Determine
Contribution Rates:

Actuarial Cost Method Entry Age Entry Age Entry Age
Amortization Method a a a
Amortization Period 17 Years 18 Years 19 Years
Asset Valuation Method (2) (2) (2)
Discount Rate 6.75% 6.75% 6.75%
Inflation 2.75% 2.75% 2.75%
Medical Trend - c
Non-Medicare 7.25% - 4.0% 7.5% - 4.0% 7.5% - 4.0%
Medicare 6.3% - 4.0% 6.5% - 4.0% 6.5% - 4.0%
Mortality edd
a Level percentage of pay.
b Investment gains and losses spread over 5-year rolling period. c Rate decreasing to an ultimate rate in 2076 and later years. d CalPERS 1997-2011 experience study. Mortality projected fully generational Scale MP-2016. e CalPERS 1997-2015 experience study. Mortality projected fully generational Scale MP-2018. f CalPERS 1997-2015 experience study. Mortality projected fully generational Scale MP-2021. 101

CITY OF LA PALMA
Budgetary Comparison Schedule
General Fund
Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Taxes 11,037,400 $ 10,917,700 $ 12,142,109 $ $ 1,224,409 Intergovernmental 8,500 8,500 45,113 36,613
Licenses and permits 429,100 429,100 518,965 89,865
Fines and forfeitures 100,100 100,100 142,148 42,048
Investment income 190,000 190,000 1,010,624 820,624
Charges for services 550,200 550,200 571,328 21,128
Rental income 602,200 602,200 570,000 (32,200)
Miscellaneous 57,500 57,500 125,081 67,581
Total revenues 12,975,000 12,855,300 15,125,368 2,270,068 Expenditures:

Current:

General government 4,553,000 4,601,500 4,295,286 306,214 Public safety 5,896,400 5,901,400 5,258,011 643,389
Public works 1,109,500 1,129,500 1,040,572 88,928
Recreation 1,381,900 1,439,100 1,251,784 187,316
Community development 689,900 761,300 612,803 148,497
Capital outlay 12,500 12,500 362,199 (349,699)
Debt service
Principal - - 131,033 (131,033)
Interest and fiscal charges - - 6,201 (6,201)
Total expenditures 13,643,200 13,845,300 12,957,889 887,411 Excess (deficiency) of revenues
over (under) expenditures (990,000) (668,200) 2,167,479 3,157,479 Other financing sources (uses):

Proceeds from debt issuance - - 349,301 349,301
Transfers in 783,000 783,000 782,900 (100)
Transfers out (400,000) (400,000) (429,372) (29,372)
Total other financing sources (uses) 383,000 383,000 702,829 319,829 Net change in fund balance (607,000) (285,200) 2,870,308 3,477,308 Fund balance - beginning of fiscal year 15,562,879 15,562,879 15,562,879 - Fund balance - end of fiscal year $ 14,955,879 15,277,679 $ 18,433,187 $ $ 3,477,308 See notes to Required Supplemetary Information
Budgeted amounts
102

Housing Special Revenue Fund
Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Budgeted amounts Positive
Original Final Actual (Negative)
Revenues:

Investment income 63,000$ 63,000$ 244,806$ $ 181,806
Miscellaneous 500 500 - (500)
Total revenues 63,500 63,500 244,806 181,306
Expenditures:

Current:

Community development 247,200 299,600 366,549 (66,949)
Total expenditures 247,200 299,600 366,549 (66,949)
Net change in fund balance (183,700) (236,100) (121,743) 114,357 Fund balance - beginning of fiscal year 4,862,206 4,862,206 4,862,206 - Fund balance - end of fiscal year 4,678,506$ 4,626,106$ 4,740,463$ $ 114,357 See notes to Required Supplemetary Information

CITY OF LA PALMA
Budgetary Comparison Schedule
103

CITY OF LA PALMA
Notes To Required Supplementary Information
Fiscal Year Ended June 30, 2024
104
NOTE 1: BUDGETARY CONTROL AND ACCOUNTING
The City adheres to the following general procedure in establishing its annual budget, which is reflected in the accompanying schedules.
 Budgets are legally adopted and formal budgetary integration is employed as a management control device during the year for the General and Special Revenue Funds. No annual budget is adopted for the Capital Outlay Reserve Capital Projects Fund. Budgets are presented in this report for comparison to actual amounts and are presented in accordance with accounting principles generally accepted in the United States of America. From the effective date of the budget, the amounts stated therein as proposed expenditures become appropriations to the various City departments.
 Reported budget amounts represent the original legally adopted budget as amended.

Individual amendments were not material in relation to the original adopted budget amounts. The City Council may amend the budget to increase appropriations only by a duly adopted minute resolution during a regular meeting, providing that sufficient monies are available and that expenditures of proceeds of taxes will not be increased beyond the constitutional appropriation limit as imposed by Article XIIIB of the State Constitution. Management can transfer, without City Council approval, budgeted amounts provided that they do not increase or decrease total fund appropriations adopted by the City Council.
 Unexpended budgeted amounts lapse at the end of the budget year. Spending control for the funds is established by the amount of expenditures budgeted for the fund, but management control is exercised at budgetary line-item levels.  Expenditures may not legally exceed overall budgeted appropriations.

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106

SUPPLEMENTARY INFORMATION

107

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CITY OF LA PALMA
Nonmajor Special Revenue
Fiscal Year Ended June 30, 2024
108
Streets – To account for monies appropriated under the Streets and Highway Code Sections 2105, 2106, 2107, and 2107.5 of the State of California. The funds are restricted for expenditures that are used for the maintenance, rehabilitation, and improvements of public streets.

Measure M – To account for money appropriated under Measure M of the County of Orange. The funds are restricted for expenditures that are used for maintaining and improving public transportation projects.

Park Development – To account for monies restricted to the development and renovation of City parks.

Air Quality Improvement – To account for monies for motor vehicle registration fees collected in accordance with California Assembly Bill 2766. This fee was levied to fund programs to reduce air pollution from mobile sources such as cars, trucks, and buses.

Supplemental Law Enforcement Service – To account for state monies received in accordance with California Assembly Bill 329 to be used as a supplement for law enforcement systems.

Public Safety Augmentation – To account for special tax augmentation funds generated by a ½ cent sales tax under Proposition 172 of the State of California. These funds are restricted for public safety programs.

Abandoned Vehicles – To account for monies received as vehicle abatement for abandoned vehicles. The monies are restricted for public safety.

Asset Seizure – To account for monies received from the Regional Narcotics Suppression Program (RNSP) that are restricted to be used for law enforcement related expenditures.

PEG Fund – To account for public education and governmental fees, which are restricted for use in providing information to the public through bulletins and public service announcements.

BSCC Local Law Enforcement Grant – To account for monies received and expended by the City as a participant in the Board of State and Community Corrections grant program.

Road Maintenance and Rehabilitation Account – To account for the City’s share of monies apportioned under the State Road Maintenance and Rehabilitation Account which are restricted for the purpose of construction, reconstruction, maintenance, and right-of-way acquisition related to streets and highways.

North Orange County Public Safety Task Force – To account for monies received from the North Orange County Public Safety Task Force, which was created through $20 million in state budget funding. The Task Force, which includes ten cities in the north Orange County region (Anaheim, Brea, Buena Park, Cypress, Fullerton, La Habra, La Palma, Placentia, Stanton, and Yorba Linda), is a multi-jurisdictional four-year pilot program specifically geared to developing new and more effective interdisciplinary approaches to gang prevention and homelessness outreach and intervention in North Orange County.

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Supplemental
Air Law Public
Measure Park Quality Enforcement Safety
Streets M Development Improvement Service Augmentation
Assets:

Cash and investments 240,013$ 931,882$ $ 269,651 5 $ $ 325,620 $ 365,915 Accounts receivable - - - - - -
Due from other
governments 37,255 52,151 - 5,158 - 18,345
Total assets 277,268$ 984,033$ $ 274,809 5 $ $ 325,620 $ 384,260 Liabilities and
fund balances
Liabilities:

Accounts payable 23,621$ $ - $ - $ - $ - $ -
Due to other funds - - - - - -
Unearned revenue - 364,165 - - - -
Total liabilities 23,621 364,165 - - - -
Fund balances:

Restricted 253,647 619,868 5 274,809 325,620 384,260
Total fund balances 253,647 619,868 5 274,809 325,620 384,260 Total liabilities and
fund balances 277,268$ 984,033$ $ 274,809 5 $ $ 325,620 $ 384,260

CITY OF LA PALMA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2024
Special Revenue Funds
110

Road North OC
BSCC Maintenance Public
Local Law and Safety
Abandoned Asset Enforcement Rehabilitation Task Force
Vehicle Seizure PEG Grant Account Grant Total
29,086 $ 37,868 $ 386,111 $ 51,291 $ 1,244,064 $ - $ 3,881,506 $ - - 534 - - - 534
- - - - 70,088 9,315 192,312
$ 37,868 29,086 $ 386,645 $ 51,291 $ 1,314,152 $ 9,315 $ 4,074,352 $ - $ - $ - $ - $ - $ 300 $ 23,921 $
- - - - - 9,015 9,015
- - - - - - 364,165
- - - - - 9,315 397,101
37,868 29,086 386,645 51,291 1,314,152 - 3,677,251
37,868 29,086 386,645 51,291 1,314,152 - 3,677,251
29,086 $ 37,868 $ 386,645 $ 51,291 $ 1,314,152 $ 9,315 $ 4,074,352 $ Special Revenue Funds
111

Supplemental
Air Law Public
Measure Park Quality Enforcement Safety
Streets M Development Improvement Service Augmentation
Revenues:

Intergovernmental 433,286 $ 360,913 $ - $ $ 20,623 $ 186,159 $ 237,677 Investment
income 10,143 37,607 19 11,119 14,487 15,723
Miscellaneous - - - - - -
Total revenues 443,429 398,520 19 31,742 200,646 253,400 Expenditures:

Current:

Public safety - - - - 131,970 231,777
Public works 420,618 - - - - -
Capital outlay - 352,727 2,271 - - -
Total expenditures 420,618 352,727 2,271 - 131,970 231,777 Excess (deficiency)
of revenues over
(under) expenditures 22,811 45,793 (2,252) 31,742 68,676 21,623 Other financing sources
(uses):

Transfers in - - - - - -
Total other financing
sources (uses) - - - - - -
Net change in fund
balances 22,811 45,793 (2,252) 31,742 68,676 21,623
Fund balances -
beginning of fiscal
year 230,836 574,075 2,257 243,067 256,944 362,637
Fund balances -
end of fiscal year $ 253,647 $ 619,868 $ 274,809 5 $ $ 325,620 $ 384,260 Nonmajor Governmental Funds
Fiscal Year Ended June 30, 2024
Special Revenue Funds

CITY OF LA PALMA
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances
112

Road North OC
BSCC Maintenance Public
Local Law and Safety
Abandoned Asset Enforcement Rehabilitation Task Force
Vehicles Seizure PEG Grant Account Grant Total
$ - $ - $ - $ 402,162 - $ $ 106,966 $ 1,747,786
1,227 1,597 16,158 2,164 49,008 - 159,252
- - 16,161 - - - 16,161
1,227 1,597 32,319 2,164 451,170 106,966 1,923,199
- 1,327 - - - 136,338 501,412
- - - - - - 420,618
- - 15,155 - 88,435 - 458,588
- 1,327 15,155 - 88,435 136,338 1,380,618
1,227 270 17,164 2,164 362,735 (29,372) 542,581
- - - - - 29,372 29,372
- - - - - 29,372 29,372
1,227 270 17,164 2,164 362,735 - 571,953
27,859 37,598 369,481 49,127 951,417 - 3,105,298
$ 29,086 37,868$ 386,645$ $ 51,291 $ 1,314,152 $ 3,677,251 - $ Special Revenue Funds
113

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
Streets – Special Revenue Fund
Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental $ 451,600 $ 430,300 $ 433,286 $ 2,986 Investment income 1,000 1,000 10,143 9,143
Total revenues 452,600 431,300 443,429 12,129
Expenditures:

Current:

Public works 422,500 422,500 420,618 1,882
Capital Outlay 100,000 100,000 - 100,000
Total expenditures 522,500 522,500 420,618 101,882
Net change in fund balance (69,900) (91,200) 22,811 114,011 Fund balances - beginning of fiscal year 230,836 230,836 230,836 - Fund balance - end of fiscal year $ 160,936 $ 139,636 $ 253,647 $ 114,011 Budgeted Amounts
114

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
Measure M – Special Revenue Fund
Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental $ 945,800 $ 949,400 $ 360,913 $ (588,487) Investment income 5,000 5,000 37,607 32,607
Total revenues 950,800 954,400 398,520 (555,880)
Expenditures:

Capital outlay 1,367,000 1,403,000 352,727 1,050,273
Total expenditures 1,367,000 1,403,000 352,727 1,050,273 Net change in fund balance (416,200) (448,600) 45,793 494,393 Fund balance - beginning of fiscal year 574,075 574,075 574,075 - Fund balance - end of fiscal year $ 157,875 $ 125,475 $ 619,868 $ 494,393 Budgeted Amounts
115

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
Park Development – Special Revenue Fund
Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Investment income -$ -$ 19$ $ 19
Total revenues - - 19 19
Expenditures:

Capital Outlay 2,300 2,300 2,271 29
Total Expenditures 2,300 2,300 2,271 29
Net change in fund balance (2,300) (2,300) (2,252) 48
Fund balance - beginning of fiscal year 2,257 2,257 2,257 - Fund balance - end of fiscal year $ (43) (43) $ 5$ $ 48 Budgeted Amounts
116

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Air Quality Improvement – Special Revenue Fund
Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental $ 20,000 $ 20,000 $ 20,623 $ 623
Investment income 2,000 2,000 11,119 9,119
Total revenues 22,000 22,000 31,742 9,742
Expenditures:

Capital outlay 210,000 210,000 210,000 -
Total expenditures 210,000 210,000 210,000 -
Net change in fund balance (188,000) (188,000) 31,742 219,742 Fund balance - beginning of fiscal year 243,067 243,067 243,067 - Fund balance - end of fiscal year $ 55,067 $ 55,067 $ 274,809 $ 219,742 Budget and Actual
Budgeted Amounts
117

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
Supplemental Law Enforcement Service – Special Revenue Fund Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental $ 164,500 $ 164,500 $ 186,159 $ 21,659 Investment income 3,000 3,000 14,487 11,487
Total revenues 167,500 167,500 200,646 33,146
Expenditures:

Current:

Public safety 156,100 156,100 131,970 24,130
Total expenditures 156,100 156,100 131,970 24,130
Net change in fund balance 11,400 11,400 68,676 57,276
Fund balance - beginning of fiscal year 256,944 256,944 256,944 - Fund balance - end of fiscal year $ 268,344 $ 268,344 $ 325,620 $ 57,276 Budgeted Amounts
118

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
Public Safety Augmentation – Special Revenue Fund
Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental 239,200$ 239,200$ 237,677$ $ (1,523)
Investment income 3,000 3,000 15,723 12,723
Total revenues 242,200 242,200 253,400 11,200
Expenditures:

Current:

Public safety 215,500 235,000 231,777 3,223
Total expenditures 215,500 235,000 231,777 3,223
Net change in fund balance 26,700 7,200 21,623 14,423
Fund balance - beginning of fiscal year 362,637 362,637 362,637 - Fund balance - end of fiscal year 389,337$ 369,837$ 384,260$ 14,423$ Budgeted Amounts
119

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
Abandoned Vehicles – Special Revenue Fund
Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Investment income $ 300 $ 300 $ 1,227 $ 927
Net change in fund balance 300 300 1,227 927
Fund balance - beginning of fiscal year 27,859 27,859 27,859 - Fund balance - end of fiscal year $ 28,159 $ 28,159 $ 29,086 $ 927 Budgeted Amounts
120

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
Asset Seizure – Special Revenue Fund
Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Investment income $ 100 $ 100 $ 1,597 $ 1,497
Total revenues 100 100 1,597 1,497
Expenditures:

Current:

Public safety 24,700 24,700 1,327 23,373
Total expenditures 24,700 24,700 1,327 23,373
Net change in fund balance (24,600) (24,600) 270 24,870 Fund balance - beginning of fiscal year 37,598 37,598 37,598 - Fund balance - end of fiscal year $ 12,998 $ 12,998 $ 37,868 $ 24,870 Budgeted Amounts
121

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
PEG – Special Revenue Fund
Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Investment income 4,000$ 4,000$ 16,158$ $ 12,158
Miscellaneous 25,000 25,000 16,161 (8,839)
Total revenues 29,000 29,000 32,319 3,319
Expenditures:

Capital outlay - 16,000 15,155 845
Total expenditures - 16,000 15,155 845
Net change in fund balance 29,000 13,000 17,164 4,164
Fund balance - beginning of fiscal year 369,481 369,481 369,481 - Fund balance - end of fiscal year 398,481$ 382,481$ 386,645$ $ 4,164 Budgeted Amounts
122

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
BSCC Local Law Enforcement Grant – Special Revenue Fund Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Investment income $ 100 $ 100 $ 2,164 $ 2,064
Total revenues 100 100 2,164 2,064
Expenditures:

Current:

Public safety 12,500 12,500 - 12,500
Total expenditures 12,500 12,500 - 12,500
Net change in fund balance (12,400) (12,400) 2,164 14,564 Fund balance - beginning of fiscal year 49,127 49,127 49,127 - Fund balance - end of fiscal year $ 36,727 $ 36,727 $ 51,291 $ 14,564 Budgeted Amounts
123

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
Road Maintenance and Rehabilitation Account (RMRA) – Special Revenue Fund Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental $ 385,100 $ 373,100 $ 402,162 $ 29,062 Investment income 8,000 8,000 49,008 41,008
Total revenues 393,100 381,100 451,170 70,070
Expenditures:

Capital outlay 878,000 878,000 88,435 789,565
Total expenditures 878,000 878,000 88,435 789,565
Net change in fund balance (484,900) (496,900) 362,735 859,635 Fund balance - beginning of fiscal year 951,417 951,417 951,417 - Fund balance - end of fiscal year $ 466,517 $ 454,517 $ 1,314,152 $ 859,635 Budgeted Amounts
124

CITY OF LA PALMA
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
North OC Public Safety Task Force Grant – Special Revenue Fund Fiscal Year Ended June 30, 2024
Variance
With
Final
Budget -
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental $ 180,000 $ 180,000 $ 106,966 $ (73,034) Investment income 1,000 1,000 - (1,000)
Total Revenues 181,000 181,000 106,966 (74,034)
Expenditures:

Current:

Public safety 162,800 162,800 136,338 26,462
Total expenditures 162,800 162,800 136,338 26,462
Excess (deficiency) of revenues
over (under) expenditures 18,200 18,200 (29,372) (47,572) Other financing sources (uses):

Transfers in 51,600 - 29,372 29,372
Total other financing sources (uses) 51,600 - 29,372 29,372 Net change in fund balance 69,800 18,200 - (18,200)
Fund balance - beginning of fiscal year - - - -
Fund balance - end of fiscal year $ 69,800 $ 18,200 $ - $ (18,200) Budgeted Amounts
125

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CITY OF LA PALMA
Internal Service Funds
Fiscal Year Ended June 30, 2024
127
The City of La Palma has five Internal Service Funds:

Risk Management – To account for certain risk management activities of the City including general liability claims, workers’ compensation claims, and other expenses.

Employee Benefits – To account for costs of the City’s employee benefit plan.

Facilities Maintenance – To account for and manage costs associated with the City’s facilities maintenance program.

Vehicle Replacement – To account for accumulation of monies to be used for vehicle replacements.

Technology Replacement – To account for accumulation of monies to be used for replacements of computers owned and utilized by the City.

Risk Employee Facilities
Management Benefits Maintenance
Assets:

Current assets:

Cash and cash equivalents 1,231,315 $ $ 325,345 $ 57,483 Total current assets 1,231,315 325,345 57,483
Noncurrent assets:

Capital assets:

Capital assets being depreciated,
net of accumulated depreciation - - -
Total noncurrent assets - - -
Total assets $ 1,231,315 $ 325,345 $ 57,483
Liabilities:

Current liabilities:

Accounts payable $ 2,386 $ - $ -
Enterprise leases payable - - -
Total current liabilities 2,386 - -
Noncurrent liabilities:

Enterprise leases payable - - -
Total noncurrent liabilities - - -
Total liabilities 2,386 - -
Net position:

Net investment in capital assets - - -
Unrestricted 1,228,929 325,345 57,483
Total net position 1,228,929 325,345 57,483
Total liabilities and net position $ 1,231,315 $ 57,483 325,345 $

CITY OF LA PALMA
Combining Statement of Net Position
Internal Service Funds
June 30, 2024
128

Vehicle Technology
Replacement Replacement Total
$ 1,933,136 $ 1,161,806 $ 4,709,085
1,933,136 1,161,806 4,709,085
587,764 24,100 611,864
587,764 24,100 611,864
$ 2,520,900 $ 1,185,906 $ 5,320,949
$ 6,748 $ 2,227 $ 11,361
45,858 - 45,858
52,606 2,227 57,219
229,593 - 229,593
229,593 - 229,593
282,199 2,227 286,812
312,313 24,100 336,413
1,926,388 1,159,579 4,697,724
2,238,701 1,183,679 5,034,137
$ 2,520,900 $ 1,185,906 $ 5,320,949
129

Risk Employee Facilities
Management Benefits Maintenance
Operating revenues
Charges for services 867,734 $ $ - $ -
Miscellaneous - 19 -
Total operating revenues 867,734 19 -
Operating expenses
Maintenance and operations - - -
Depreciation - - -
Settlement, claims, and insurance 872,001 - -
Total operating expenses 872,001 - -
Operating income (loss) (4,267) 19 -
Nonoperating revenues (expenses)
Investment income 44,232 13,718 2,424
Total nonoperating revenues 44,232 13,718 2,424
Changes in net position 13,737 39,965 2,424
Total net position - beginning of fiscal year 1,188,964 311,608 55,059 Total net position - end of fiscal year $ 1,228,929 $ 325,345 $ 57,483

CITY OF LA PALMA
Combining Statement of Revenues, Expenses, and Changes in Fund Net Position Internal Service Funds
Fiscal Year Ended June 30, 2024
130

Vehicle Technology
Replacement Replacement Total
$ 397,000 $ 191,901 $ 1,456,635
9,700 - 9,719
406,700 191,901 1,466,354
74,097 37,162 111,259
104,172 13,817 117,989
- - 872,001
178,269 50,979 1,101,249
228,431 140,922 365,105
80,696 48,017 189,087
80,696 48,017 189,087
309,127 188,939 554,192
1,929,574 994,740 4,479,945
$ 2,238,701 $ 1,183,679 $ 5,034,137
131

Risk Employee Facilities
Management Benefits Maintenance
Cash flows from operating activities
Cash received from internal users 867,734 $ $ - $ -
Cash payments to suppliers for goods
and services (874,832) - -
Miscellaneous receipts - 19 -
Net cash provided (used) by operating activities (7,098) 19 - Cash flows from capital and related
financing activities
Proceeds of lease payable - - -
Payments of lease principal - - -
Acquisition of capital assets - - -
Net cash used by capital and related
financing activities - - -
Cash flows from investing activities
Interest received 44,232 13,718 2,424
Net cash provided by investing activities 44,232 13,718 2,424 Net increase in cash and cash equivalents 13,737 37,134 2,424 Cash and equivalents - beginning of fiscal year 1,194,181 311,608 55,059 Cash and cash equivalents - end of fiscal year $ 325,345 1,231,315 $ 57,483 $ Reconciliation of operating income (loss) to net
cash provided (used) by operating activities
Operating income (loss) (4,267) $ 19 $ - $
Adjustments to reconcile operating income (loss) to
net cash provided (used) by operating activities
Depreciation - - -
Increase (decrease) in operating liabilities:

Accounts payable (2,831) - -
Total adjustments (2,831) - -
Net cash provided (used) by operating activities $ (7,098) $ 19 $ -

CITY OF LA PALMA
Combining Statement of Cash Flows
Internal Service Funds
Fiscal Year Ended June 30, 2024
132

Vehicle Technology
Replacement Replacement Total
$ 191,901 397,000 $ $ 1,456,635
(73,748) (36,163) (984,743)
9,700 - 9,719
332,952 155,738 481,611
185,976 - 185,976
(31,651) - (31,651)
(241,326) (13,044) (254,370)
(87,001) (13,044) (100,045)
80,696 48,017 189,087
80,696 48,017 189,087
326,647 190,711 570,653
1,606,489 971,095 4,138,432
$ 1,933,136 $ 1,161,806 $ 4,709,085
$ 228,431 $ 140,922 $ 365,105
104,172 13,817 117,989
349 999 (1,483)
104,521 14,816 116,506
$ 332,952 $ 155,738 $ 481,611
133

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135

STATISTICAL SECTION

136

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CITY OF LA PALMA

OVERVIEW OF THE STATISTICAL SECTION
JUNE 30, 2024
137
The Statistical Section provides a context for understanding information in the financial statements, note disclosures, and required supplementary information and how that information relates to the City of La Palma’s overall financial health. The detailed schedules presented in the Statistical Section are grouped into five sections pertaining to financial trends, revenue capacity, debt capacity, operating, demographic, and economic information.

Contents
Financial Trends
These schedules contain trend information to help the reader understand how the City’s financial performance and well-being have changed over time.

Revenue Capacity
These schedules contain information to help the reader assess the City’s most significant local revenue source of property taxes.

Debt Capacity
These schedules present information to help the reader assess the affordability of the City’s current levels of outstanding debt and the City’s ability to issue additional debt in the future.

Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information in the City’s basic financial statements relates to the services the City provides and the activities it performs.

Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment within which the government’s financial activities take place.

Fiscal year
2024 2023 2022 2021 2020
Governmental activities
Net investment in capital assets 19,906,510 $ 19,821,435 $ 19,275,340 $ 19,560,150 $ 18,421,608 $ Restricted 9,796,429 9,093,160 7,636,318 7,383,488 8,196,168 Unrestricted 18,623,110 17,188,372 16,896,171 11,448,218 10,202,124 Total governmental activities 48,326,049 $ 46,102,967 $ 43,807,829 $ 38,391,856 $ 36,819,900 $ Business-type activities
Net investment in capital assets 4,990,438 $ 4,654,318 $ 4,983,901 $ 4,852,155 $ 5,197,335 $ Restricted 75,493 47,173 - - -
Unrestricted 8,355,644 9,088,302 9,321,436 9,701,087 9,054,853 Total business-type activities $ 13,421,575 $ 13,789,793 $ 14,305,337 $ 14,553,242 $ 14,252,188 Primary government
Net investment in capital assets $ 24,896,948 $ 24,475,753 $ 24,259,241 $ 24,412,305 $ 23,618,943 Restricted 9,871,922 9,140,333 7,636,318 7,383,488 8,196,168 Unrestricted 26,978,754 26,276,674 26,217,607 21,149,305 19,256,977 Total primary government $ 61,747,624 $ 59,892,760 $ 58,113,166 $ 52,945,098 $ 51,072,088 Source: City of La Palma Finance Department

CITY OF LA PALMA
Net Position by Component
Last Ten Fiscal Years
June 30, 2024
(Accrual Basis of Accounting)
138

Fiscal year
2019 2018 2017 2016 2015
$ 18,835,137 18,570,542 $ 17,263,715 $ 18,144,119 $ 18,842,381 $ 1,813,446 6,246,416 1,434,947 1,522,074 1,054,006
7,672,517 9,422,851 9,051,807 9,193,830 8,673,833
$ 28,321,100 34,239,809 $ 27,750,469 $ 28,860,023 $ 28,570,220 $ $ 5,540,929 5,416,763 $ 5,946,985 $ 6,322,101 $ 6,748,176 $ - - - - -
8,513,685 8,271,049 7,937,380 8,429,008 8,837,552
$ 13,930,448 $ 13,811,978 $ 13,884,365 $ 14,751,109 $ 15,585,728 $ 23,987,305 $ 24,376,066 $ 23,210,700 $ 24,466,220 $ 25,590,557 6,246,416 1,813,446 1,434,947 1,522,074 1,054,006
17,936,536 15,943,566 16,989,187 17,622,838 17,511,385
$ 48,170,257 $ 42,133,078 $ 41,634,834 $ 43,611,132 $ 44,155,948 139

Fiscal Year
2024 2023 2022 2021 2020
Expenses:

Governmental activities:

General government 4,830,621 $ 4,593,055 $ 3,672,474 $ 5,186,198 $ 5,160,027 $ Public safety 6,622,915 5,654,582 4,031,132 5,305,101 5,206,824 Public works 2,655,690 2,502,582 2,115,815 2,770,258 1,876,023 Recreation 1,544,570 1,413,544 890,265 1,007,607 1,106,288 Community development 1,054,337 866,161 641,152 1,295,438 683,314 Interest on long-term debt 6,201 - 4,284 - -
Total governmental activities 16,714,334 15,029,924 11,355,122 15,564,602 14,032,476 Business-type activities:

Water 3,266,366 3,089,164 3,136,213 3,052,955 3,009,191 Sewer 632,357 352,626 393,659 456,844 501,119
Total business-type activities 3,898,723 3,441,790 3,529,872 3,509,799 3,510,310 Total primary government expenses 20,613,057 18,471,714 14,884,994 19,074,401 17,542,786 Program revenues:

Governmental activities:

Charges for services:

General government 24,631 63,821 139,738 240,633 232,254 Public safety 264,549 228,797 235,121 77,579 90,546
Public works 91,071 169,109 69,679 21,018 18,067
Recreation 293,653 395,518 354,726 64,369 214,343
Community development 402,157 509,469 305,025 301,826 301,979 Operating grants and contributions 1,568,723 1,359,762 3,288,555 3,818,909 1,770,316 Capital grants and contributions 402,162 637,493 341,050 600,589 296,210 Total governmental activities 3,046,946 3,363,969 4,733,894 5,124,923 2,923,715 Business-type activities:

Charges for services:

Water 3,387,972 3,300,306 3,525,225 3,610,009 3,380,625 Sewer 562,916 546,560 597,106 638,001 549,006
Operating grants and contributions - - - - -
Capital grants and contributions - - - - -
Total business-type activities 3,950,888 3,846,866 4,122,331 4,248,010 3,929,631 Total primary government program revenues 6,997,834 7,210,835 8,856,225 9,372,933 6,853,346

CITY OF LA PALMA
Changes in Net Position
Last Ten Fiscal Years
Fiscal Year Ended June 30, 2024
(Accrual Basis of Accounting)
140

Fiscal Year
2019 2018 2017 2016 2015
$ 4,593,316 4,207,716 $ 4,701,496 $ 2,767,437 $ 1,398,116 $ 4,773,427 5,161,678 4,354,431 4,794,910 5,384,720
2,069,594 2,313,356 3,334,559 1,757,806 2,699,308
1,205,139 1,284,377 1,167,249 1,267,799 1,560,849
631,853 577,308 683,872 684,085 781,853
126,779 - - - -
13,671,214 13,273,329 14,241,607 11,272,037 11,824,846
2,817,376 2,607,440 2,851,600 2,499,269 2,564,265
336,628 137,736 487,771 494,741 409,108
3,154,004 2,745,176 3,339,371 2,994,010 2,973,373
16,825,218 16,018,505 17,580,978 14,266,047 14,798,219
236,459 227,005 233,455 236,341 233,730
90,587 100,250 104,188 156,106 150,869
26,640 23,196 38,271 84,200 47,625
352,048 371,470 351,705 388,129 404,737
239,166 212,926 444,223 257,717 196,172
1,487,731 1,406,794 1,351,153 1,109,238 1,231,719
563,718 478,190 865,150 - 21,352
2,996,349 2,819,831 3,388,145 2,231,731 2,286,204
3,087,184 3,005,364 2,720,115 2,422,653 2,573,038
440,879 353,046 272,544 204,800 212,518
- - - - -
- - - - -
3,528,063 3,358,410 2,992,659 2,627,453 2,785,556
6,524,412 6,178,241 6,380,804 4,859,184 5,071,760
(Continued)
141

Fiscal Year
2024 2023 2022 2021 2020
Net revenues (expenses):

Governmental activities (13,667,388) $ (11,665,955) $ (6,621,228) $ (10,439,679) $ (11,108,761) $ Business-type activities 52,165 405,076 592,459 738,211 419,321 Total primary government net revenues (expenses) (13,615,223) (11,260,879) (6,028,769) (9,701,468) (10,689,440) General revenues and other changes in net assets:

Governmental activities:

Taxes:

Property Tax $ 5,070,169 $ 4,862,955 $ 4,626,399 $ 4,377,315 $ 4,248,987 Sales Tax 4,736,950 4,064,012 4,635,157 3,983,660 3,382,369 Utility Users' Tax 1,183,337 1,293,029 1,037,550 957,702 918,256 Franchise Tax 524,795 448,751 428,401 397,503 417,835
Transient Occupancy Tax 646,108 510,704 392,423 160,948 297,709 Intergovernmental - unrestricted - - - - -
Investment income 1,998,836 632,232 (585,796) 934,885 1,046,459 Other general revenues 942,928 1,108,335 843,667 553,022 489,925 Gain (Loss) on asset disposal - - - - -
Transfers 787,347 1,041,075 659,400 646,600 852,658
Contributions from Successor Agency - - - - -
Extraordinary Gain (Loss) - - - - -
Total governmental activities 15,890,470 13,961,093 12,037,201 12,011,635 11,654,198 Business-type activities:

Investment income 366,964 120,455 (180,964) 209,443 326,853 Other general revenues - - - - 30,856
Transfers (787,347) (1,041,075) (659,400) (646,600) (852,658) Extraordinary Gain (Loss) - - - - -
Total business-type activities (420,383) (920,620) (840,364) (437,157) (494,949) Total primary government general revenues
and other changes in net assets 15,470,087 13,040,473 11,196,837 11,574,478 11,159,249 Changes in net position:

Governmental activities 2,223,082 2,295,138 5,415,973 1,571,956 545,437 Business-type activities (368,218) (515,544) (247,905) 301,054 (75,628) Total primary government changes in net position $ 1,854,864 $ 1,779,594 $ 5,168,068 $ 1,873,010 $ 469,809 Source: City of La Palma Finance Department
Changes in Net Position
Last Ten Fiscal Years
Fiscal Year Ended June 30, 2024
(Accrual Basis of Accounting) (Continued)

CITY OF LA PALMA
142

Fiscal Year
2019 2018 2017 2016 2015
$ (10,453,498) (10,578,086) $ (10,853,462) $ (9,040,306) $ (9,538,642) $ 613,234 374,059 (346,712) (366,557) (187,817)
(9,840,264) (10,204,027) (11,200,174) (9,406,863) (9,726,459) $ 4,019,824 $ 3,879,065 $ 3,828,141 $ 3,566,153 $ 3,387,323 4,198,742 4,456,828 3,402,360 2,341,421 2,560,938
951,388 992,221 1,024,147 1,078,903 1,126,749
437,747 377,450 379,625 394,345 407,115
398,343 391,991 377,595 390,823 346,077
- - - - -
902,426 194,162 172,803 325,062 205,581
482,085 454,119 384,997 645,702 676,257
- - - - (35,491)
587,700 587,700 567,190 587,700 283,100
- - - - -
- - - - -
11,978,255 11,333,536 10,136,858 9,330,109 8,957,649
267,593 22,401 31,027 114,352 67,828
1,228 - 16,131 5,286 1,916
(587,700) (587,700) (567,190) (587,700) (283,100)
- - - - -
(318,879) (565,299) (520,032) (468,062) (213,356)
11,659,376 10,768,237 9,616,826 8,862,047 8,744,293
1,400,169 880,038 (716,604) 289,803 (580,993)
55,180 47,935 (866,744) (834,619) (401,173)
$ 1,455,349 $ 927,973 $ (1,583,348) $ (544,816) $ (982,166) 143

Fiscal Year
2024 2023 2022 2021 2020
General Fund:

Nonspendable $ 47,565 $ 24,873 $ 17,151 $ 32,012 $ 52,310 Committed 7,953,982 7,954,834 6,248,205 6,155,769 6,117,468 Assigned 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 Unassigned 8,931,640 6,083,172 6,230,765 3,325,005 1,488,985 Total General Fund $ 15,562,879 18,433,187 $ 13,996,121 $ 11,012,786 $ 9,158,763 $ All Other Governmental:

Nonspendable - $ $ - $ - $ - $ -
Restricted 8,417,714 7,967,504 7,571,047 7,383,488 7,581,049 Assigned 8,091,712 8,715,089 8,647,192 9,221,379 10,288,908 Unassigned - - - - -
Total All Other Governmental Funds 16,509,426 $ 16,682,593 $ 16,218,239 $ 16,604,867 $ 17,869,957 $ Source: City of La Palma Finance Department

CITY OF LA PALMA
Fund Balances of Governmental Funds
Last Ten Fiscal Years
June 30, 2024
(Modified Accrual Basis of Accounting)
144

Fiscal Year
2019 2018 2017 2016 2015
$ 823,266 735,699 $ 868,516 $ 945,685 $ 1,068,724 $
5,301,863 5,669,364 5,213,714 10,228,814 10,246,885
250,000 250,000 250,000 250,000 250,000
2,097,144 3,355,285 4,894,542 988,583 673,140
$ 8,472,273 10,010,348 $ 11,226,772 $ 12,413,082 $ 12,238,749 $ $ - $ - $ - $ - $ -
5,836,999 1,796,825 1,412,516 1,522,074 1,054,006
6,661,163 6,381,098 6,008,589 6,535,427 5,882,836
- - - - -
$ 8,177,923 12,498,162 $ $ 7,421,105 $ 8,057,501 $ 6,936,842 145

Fiscal Year
2024 2023 2022 2021 2020
Revenues:

Taxes 12,142,109 $ 11,163,477 $ 11,101,945 $ 9,877,128 $ 9,265,156 $ Intergovernmental 1,792,899 2,214,441 3,784,738 4,242,282 1,687,759 Licenses and permits 518,965 464,984 392,109 407,482 410,233 Fines and forfeitures 142,148 161,878 101,574 73,819 91,382 Investment income 1,704,603 1,015,295 (613,117) 163,876 904,257 Charges for services 571,328 682,444 467,026 224,124 355,616 Rental income 570,000 547,338 505,630 482,788 428,492
Developer contributions - - - - -
Miscellaneous 166,157 380,286 92,327 244,078 368,782
Total revenues 17,608,209 16,630,143 15,832,232 15,715,577 13,511,677 Expenditures:

Current:

General government 4,295,286 4,267,663 3,563,834 3,871,663 3,610,483 Public safety 5,759,423 5,693,502 5,507,510 5,331,743 5,356,176 Public works 1,461,190 1,485,991 1,559,430 1,363,484 1,151,060 Recreation 1,251,784 1,210,297 1,103,534 851,738 971,741 Community development 979,352 855,273 768,455 1,298,461 693,807 Capital outlay 2,163,447 2,127,380 1,392,162 3,056,155 936,431 Debt service:

Principal 131,033 - - - -
Interest 6,201 - - - -
Total expenditures 16,047,716 15,640,106 13,894,925 15,773,244 12,719,698 Excess (deficiency) of revenues
over (under) expenditures 1,560,493 990,037 1,937,307 (57,667) 791,979 Other financing sources (uses):

Proceeds from debt issuance 349,301 - - - -
Transfers in 1,216,719 1,461,010 1,059,400 1,696,600 5,659,938 Transfers out (429,372) (419,935) (400,000) (1,050,000) (2,325,938) Total other financing sources (uses) 1,136,648 1,041,075 659,400 646,600 3,334,000 Net change in fund balances $ 2,697,141 $ 2,031,112 $ 2,596,707 $ 588,933 $ 4,125,979 Debt service as a percentage
of noncapital expenditures 0.9% 0.0% 0.0% 0.0% 0.0%
Source: City of La Palma Finance Department

CITY OF LA PALMA
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
Fiscal Year Ended June 30, 2024
(Modified Accrual Basis of Accounting)
146

Fiscal Year
2019 2018 2017 2016 2015
$ 10,105,969 10,013,699 $ 9,019,061 $ 7,771,645 $ 7,828,202 $ 1,580,135 1,704,439 1,870,109 1,019,793 1,199,085
340,730 366,063 492,885 373,165 357,911
83,110 92,271 94,945 148,689 144,972
737,327 191,762 170,351 346,903 214,417
495,742 501,869 584,070 607,852 560,932
453,990 313,674 223,946 221,162 162,640
- - 55,380 - -
320,303 439,584 446,264 500,684 539,168
14,174,673 13,565,994 12,957,011 10,989,893 11,007,327
3,573,688 6,107,362 5,821,722 2,908,327 1,427,946
5,113,435 4,661,073 4,528,390 4,554,392 5,217,677
1,842,876 1,468,497 1,778,180 1,058,134 892,162
1,115,168 1,007,642 994,227 1,060,438 1,327,032
578,632 632,501 699,040 674,607 781,261
346,738 2,274,300 1,545,858 445,185 2,022,652
- - - - -
126,779 - - - -
12,697,316 16,151,375 15,367,417 10,701,083 11,668,730
1,477,357 (2,585,381) (2,410,406) 288,810 (661,403)
- - - - -
1,009,932 1,490,318 960,022 1,615,182 1,628,287
(422,232) (902,618) (372,322) (609,000) (1,870,613)
587,700 587,700 587,700 1,006,182 (242,326)
$ 2,065,057 $ (1,997,681) $ (1,822,706) $ 1,294,992 $ (903,729)

1.0% 0.0% 0.0% 0.0% 0.0%
147

CITY OF LA PALMA
Net Taxable Assessed Value of Taxable Property
Last Ten Fiscal Years
Fiscal Year Ended June 30, 2024
Total
Fiscal Secured Public Unsecured Assessed Direct
Year Value Utility Value Value Rate
2015 1,763,629,394 $ $ 64,749,862 $ 1,828,379,256 0.11949% 2016 1,839,351,962 64,949,347 1,904,301,309 0.11949%
2017 1,916,024,438 81,204,198 1,997,228,636 0.11948%
2018 1,974,960,893 70,525,095 2,045,485,988 0.11950%
2019 2,075,873,988 370,260 65,386,582 2,141,630,830 0.12385% 2020 2,152,829,525 370,260 64,706,960 2,217,906,745 0.12369% 2021 2,241,588,642 370,260 55,880,793 2,297,839,695 0.12362% 2022 2,316,211,863 370,260 69,843,345 2,386,425,468 0.12343% 2023 2,427,275,063 333,234 65,079,242 2,492,687,539 0.12344% 2024 2,538,418,455 333,234 81,958,454 2,620,710,143 0.12344% Source:

In 1978, the voters of the State of California passed Proposition 13 which limited property taxes to a total maximum rate of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased by an "inflation factor" (limited to a maximum increase of 2%). With few exceptions, property is only reassessed at the time that it is sold to a new owner. At that point, the new assessed value is reassessed at the purchase price of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.

County of Orange Assessor's Office, Combined Tax Roll, as reported in the "HDL 2022-23 ACFR Statistical Reports," Assessed Value of Taxable Property tables. 148

CITY OF LA PALMA
Direct and Overlapping Property Tax Rates
(Per $100 of Assessed Valuation)
Last Ten Fiscal Years
Fiscal Year Ended June 30, 2024
Overlapping Rates (Note 2)
North O.C. Total
Anaheim Buena Fullerton Joint Direct
Union High Park Centralia Cypress High Metropolitan Community and Basic School School School School School Water College Overlapping Total Fiscal Levy District District District District District District District Tax Direct Rate Year (Note 1) Bonds Bonds Bonds Bonds Bonds Bonds Bonds Rates (Note 3) 2015 1.00000 0.02412 0.04793 0.02486 0.02303 0.01338 0.00350 0.01704 1.15386 0.1195% 2016 1.00000 0.04948 0.01628 0.02319 0.02461 0.01232 0.00350 0.03043 1.15981 0.1195% 2017 1.00000 0.04259 0.03570 0.02665 0.02360 0.02819 0.00350 0.02885 1.18908 0.1195% 2018 1.00000 0.02211 0.03455 0.04651 0.03082 0.02994 0.00350 0.02927 1.19670 0.1195% 2019 1.00000 0.04244 0.03034 0.04208 0.02951 0.02901 0.00350 0.02829 1.20517 0.1239% 2020 1.00000 0.03968 0.03593 0.04771 0.02957 0.02779 0.00350 0.02409 1.20827 0.1237% 2021 1.00000 0.03971 0.03396 0.04801 0.03321 0.02856 0.00350 0.03198 1.21893 0.1236% 2022 1.00000 0.03804 0.04206 0.04733 0.03045 0.02599 0.00350 0.02877 1.21614 0.1234% 2023 1.00000 0.03016 0.02907 0.05011 0.03202 0.02589 0.00350 0.02778 1.19853 0.1234% 2024 1.00000 0.03164 0.03605 0.04974 0.03085 0.02442 0.00350 0.01715 1.19335 0.1234% Notes
Source:

Note 1: In 1978, the voters of the State of California passed Proposition 13 which set the property tax rate at a 1% fixed amount. This 1% is shared by all taxing agencies for which the subject property resides within. In addition to the 1% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of any voter approved bonds. The City receives only a portion of this basic 1% levy.

Note 2: Overlapping rates are those of local and county governments that apply to property owners within the City. Not all overlapping rates apply to all city property owners.

Note 3: Because basic and overlapping rates vary by tax rate area, individual rates cannot be summed. The Total Direct Rate is the weighted average of all individual direct rates applied by the City.

County of Orange Assessor's Office, Tax Rate Table, as reported in "HDL ACFR Statistical Reports," Direct and Overlapping Property Tax Rates table.
149

CITY OF LA PALMA
Top Ten Property Tax Payers
Current Year and Ten Years Ago
Fiscal Year Ended June 30, 2024
2015
Percentage Percentage
of of
Assessed Net Assessed Net
Property Owner's Name Value Rank AV Value Rank AV
73 LPCP6 Owner LLC $ 1 4.10% 107,438,013
Casa La Veta Associates 32,873,762 2 1.25% 13,552,465 $ 9 0.74% ADP Inc 26,403,695 3 1.01% 19,963,986 5 1.09%
Falcon SoCal LLC 26,140,046 4 1.00%
La Palma Paper 24,831,962 5 0.95% 21,075,081 4 1.15%
Aishan La Palma LLC 23,551,843 6 0.90%
LRF2 Los Angeles Logistics 15,126,804 7 0.58%
Rexford Industrial 5593 Fresca LLC 15,010,827 8 0.57%
Precision Cutting Tools 13,727,193 9 0.52%
183rd La Palma Investors 12,880,593 10 0.49%
Realty Associates Fund IX 86,602,244 1 4.74%
Kaiser Foundation Health Plan Inc 29,804,041 2 1.63%
Prime Healthcare La Palma LLC 24,542,454 3 1.34%
Bre LQ Properties 19,733,747 6 1.08%
Dexus SoCal LLC 18,836,822 7 1.03%
Huntington-Humboldt 14,347,759 8 0.78%
AL US LaPalma II Senior Hsg 12,980,986 10 0.71%
$ 11.37% 261,439,585 297,984,738 $ 14.29%
Source: County of Orange Assessor's Office, Combined Tax Rolls and the SBE Non-Unitary Tax Roll, as reported in the "HDL ACFR Statistical Reports," Top Ten Property Taxpayers table.

The amounts shown above include assessed value data for both the City of La Palma and the Successor Agency to the dissolved La Palma Community Development Commission.
2024
150

CITY OF LA PALMA
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal Year Ended June 30, 2024
Amount
Fiscal Year Tax Levy Collected (1)
2015 $ 3,609,060 $ 3,609,060
2016 3,756,941 3,756,941
2017 3,533,955 3,533,955
2018 3,642,572 3,642,572
2019 3,798,552 3,798,552
2020 3,922,946 3,922,946
2021 4,070,172 4,070,172
2022 4,209,618 4,209,618
2023 4,481,396 4,481,396
2024 4,657,510 4,657,510
2016 includes the final payment of the triple-flip.
(1) Through an agreement with the County of Orange, effective for the fiscal years beginning in 1994, the City of La Palma will receive 100% of its property tax levy in the current fiscal year.

This is known as being on the "Teeter Plan" for property tax apportionments.

Source: County of Orange Auditor-Controller
The amounts presented before the January 2012 dissolution of the Redevelopment Agency include City property taxes and the Community Development Commissions tax increment. This schedule also includes amounts collected and passed-through to other agencies. 151

CITY OF LA PALMA
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Fiscal Year Ended June 30, 2024
Bonded
Debt as a
Bonded Percentage
Fiscal Bonded Debt Per Debt Per of Personal
Year Debt Population Capita Capita Income
2014 $ - 15,890 $ - $ - -
2015 - 16,057 - - -
2016 - 15,984 - - -
2017 - 15,948 - - -
2018 - 15,820 - - -
2019 - 15,492 - - -
2020 - 15,442 - - -
2021 - 15,332 - - -
2022 - 15,332 - - -
2023 - 15,071 - - -
Sources: State of California Finance Department (population information), as reported in the "HDL ACFR Statistical Reports", Demographic and Economic Statistics and City of La Palma Finance Department (long-term amortization table, outstanding debt) 152

CITY OF LA PALMA
Direct Govermental and Overlapping Bonded Debt
As of June 30, 2024
2023-24 Assessed Valuation: $ 2,620,710,143
Total Debt City's Share of
6/30/2024 % Applicable (1) Debt 06/30/24
Direct Debt:

City of La Palma Financed Purchase Obligations 275,451 $ 100.000% 275,451 $ Total Direct Debt 275,451
Overlapping Tax and Assessment Debt
Metropolitan Water District 18,210,000 0.068% 12,383 $
North Orange County Joint Community College District 291,560,678 1.533% 4,469,625 Anaheim Union High School District 229,078,955 3.001% 6,874,659 Fullerton Joint Union High School District 177,700,000 1.802% 3,202,154 Buena Park School District 61,297,460 8.801% 5,394,789
Centralia School District 43,507,443 16.292% 6,783,874
Cypress School District 31,789,042 7.642% 2,429,319
Total Overlapping Tax and Assessment Debt $ 29,166,803
Overlapping General Fund Debt:

Orange County General Fund Obligations 440,385,000 0.341% 1,501,713 $ Orange County Pension Obligation Bonds 10,030,000 0.341% 34,202 North Orange County ROP Certificates of Participation 7,350,000 1.576% 115,836 Anaheim Union High School District Certificates of Participation 28,320,000 3.001% 849,883 Fullerton Joint Union High School District Certificates of Participation 14,940,000 1.802% 269,219 Cypress School District Certificates of Participation 2,726,000 7.642% 208,321 Total Overlapping Debt $ 2,979,174
Total Direct Debt $ 275,451
Total Overlapping Debt 32,145,977
Combined Total Debt $ 32,421,428 (2)
(1) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's total taxable assessed value.
(2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue, and non-bonded capital lease obligations. Qualified Academy Bonds are included based on principal due at maturity.

Ratios to 2023-24 Assessed Valuation:

Direct Debt 0.01%
Total Direct and Overlapping Tax and Assessment Debt 1.11% Combined Total Debt 1.23%
Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the City. This schedule shows the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the City of La Palma. This process recognizes that, when considering the government's ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident and therefore responsible for repaying the debt of each overlapping government.

Source: California Municipal Statistics, Inc.
153

CITY OF LA PALMA
Legal Debt Margin Information
Last Ten Fiscal Years
Fiscal Year Ended June 30, 2024
Total
Debt
Debt Applicable Legal
Fiscal Assessed Limit Debt to Debt Debt
Year Value Percentage Limit Limit Margin
2015 1,828,379,256 $ 3.750% 68,564,222 $ 68,564,222 $
2016 1,904,301,309 3.750% 71,411,299 71,411,299
2017 1,997,228,636 3.750% 74,896,074 74,896,074
2018 2,045,485,988 3.750% 76,705,725 76,705,725
2019 2,141,630,830 3.750% 80,311,156 80,311,156
2020 2,217,906,745 3.750% 83,171,503 83,171,503
2021 2,297,839,695 3.750% 86,168,989 86,168,989
2022 2,386,425,468 3.750% 89,490,955 89,490,955
2023 2,492,687,539 3.750% 93,475,783 93,475,783
2024 2,620,710,143 3.750% 98,276,630 98,276,630
Sources: County of Orange Assessor's Office, Combined Tax Roll, as reported in the "HDL ACFR Statistical Reports," Assessed Value of Taxable Property tables. 154

City of La Palma City of La Palma
Personal Per Capita City of La Palma
Calendar Income Personal Unemployment
Year Population (In Thousands) Income Rate
2014 15,890 $ 547,585 $ 34,461 4.1%
2015 16,057 529,385 32,969 3.4%

2016 15,984 546,311 34,178 3.0%

2017 15,948 548,101 34,368 3.3%

2018 15,820 595,442 37,638 2.4%

2019 15,492 627,772 40,522 2.7%
2020 15,442 639,388 41,405 7.8%
2021 15,332 646,793 42,185 3.4%
2022 15,332 654,928 42,716 2.2%
2023 15,071 781,299 51,841 2.5%
Sources: "HDL ACFR Statistical Reports," Demographic and Economic Statistics table.

Fiscal Year Ended June 30, 2024
Last Ten Calendar Years
Demographic and Economic Statistics

CITY OF LA PALMA
155

CITY OF LA PALMA
Operating Indicators by Function
Last Ten Fiscal Years
Fiscal Year Ended June 30, 2024
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Function:

Public safety:

Calls for service 14,626 14,525 15,430 15,418 18,643 21,504 19,471 19,344 15,829 13,613 Crime reports 782 869 917 828 885 1,104 1,218 1,409 1,337 968 Arrests 285 314 380 329 406 445 379 420 511 266
Traffic citations 643 789 902 470 955 1,163 636 922 803 898 Parking citations 572 1,645 1,668 1,380 1,026 1,127 1,480 1,506 2,434 1,979 Other citations - - - - - - - - - 24
Public works:

Traffic signals
maintained 21 21 21 21 21 21 21 21 21 21
Infrastructure
improvement
projects administered 8 12 2 2 5 - 6 5 7 1
Private development
plans reviewed 2 6 4 4 10 5 5 - - -
Graffiti removal
(square feet) 999 344 239 253 237 150 268 453 53 781
Street sweeping
(miles/week) 62 62 62 62 62 62 62 62 59 59
Trees pruned 579 419 656 99 314 510 565 633 406 361
Recreation:

Recreation classes 419 623 720 441 1,098 1,171 1,126 1,100 629 463 Recreation classes
enrollment 2,126 3,170 2,738 448 2,308 4,205 4,254 3,600 4,237 3,720 Indoor facility rentals 125 98 50 - 109 146 72 107 92 71 Indoor facility rental
hours 521 454 223 - 521 700 628 424 413 380
Outdoor facility rentals 347 322 412 62 225 514 192 251 376 498 Outdoor facility rental
hours 989 966 1,165 133 677 2,260 741 971 1,242 972
Community Development:

Planning entitlements
processed 6 183 201 24 24 30 50 24 164 111
Building permits issued 281 443 483 456 405 489 406 485 497 491 Estimated valuation
of building permits
(millions) 14$ $8.996 $7.368 $7.387 $11.432 $6.546 $4.200 $17.029 $7.500 $7.670 Code enforcement cases 224 137 76 111 117 424 430 533 174 249 Water:

Average monthly
consumption per
household (cubic
feet)** 1,365 1,679 1,623 1,735 1,665 987 992 1,862 908 1,800 Customer accounts 4,473 4,370 4,369 4,368 4,371 4,369 4,138 4,133 4,337 4,331 Water samples taken 620 2,596 1,938 2,265 2,446 2,125 3,060 2,299 2,924 2,448 ** State-mandated Stage 2 drought restrictions for 2016. Residential Consumption based on average 4,150 single family residential accounts.

Multi-family and high-density accounts are not reflected in calculation due to limited data availability in billing software used.

Source: City of La Palma, respective Departments
Fiscal Year
156

CITY OF LA PALMA
Capital Assets Statistics by Function
Last Ten Fiscal Years
Fiscal Year Ended June 30, 2024
Fiscal Year
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Function:

Public safety:

Police stations 1 1 1 1 1 1 1 1 1 1
Public works:

Streets (miles) 31 31 31 31 31 31 31 31 31 31
Streetlights 972 972 972 972 972 972 972 972 972 972
Traffic signals 18.5 18.5 18.5 18.5 18.5 18.5 18.5 18.5 18.5 18.5 Recreation:

Community centers 1 1 1 1 1 1 1 1 1 1
Parks 2 2 2 2 2 2 2 2 2 2
Water:

Water mains (miles) 38 38 38 38 38 38 38 38 38 38
Maximum daily capacity (millions of gallons) 2.65 2.65 2.65 2.65 2.65 2.65 2.65 2.65 2.65 2.65 Fire hydrants 343 343 343 343 343 343 343 343 343 343
Water wells 2 2 2 2 2 2 2 2 2 2
Storage capacity (millions of gallons) 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 Reservoirs 2 2 2 2 2 2 2 2 2 2
Wastewater:

Sanitary sewers (miles) 28 28 28 28 28 28 28 28 28 28
Storm drains (miles) 5 5 5 5 5 5 5 5 5 5
Manholes 631 631 631 631 631 631 631 631 631 631
Source: City of La Palma, respective Departments
157

CITY OF LA PALMA
Principal Employers
Current Year and Ten Years Ago
Fiscal Year Ended June 30, 2024
2024 2015
Percentage of Percentage of
Number of Total Number of Total
Employer Employees Employment Employees Employment
ADP Inc. 527 13.37% 600 8.21%
La Palma Intercommunity Community Hospital 395 10.02% 360 4.93% Applecare Medical Group 278 7.05%
Arcadia 179 4.54% 150 2.05%
Beacon Day School 147 3.73%
Walmart Stores 95 2.41%
Quiet Logistics 87 2.21%
Sunrise Assisted Living 78 1.98%
C J Foods USA 75 1.90%
Lotte Chemical California, Inc 73 1.85%
C and D Zodiac 415 5.68%
Performance Machine Inc. 178 2.44%
Anahiem Union High School District 157 2.15%
Kaiser Healthplan 155 2.12%
Unisource Worlwide 152 2.08%
Kellogg's Snacks 110 1.51%
Tesoro 90 1.23%
1,934 49.06% 2,367 32.4%
Source: City of La Palma Business Licenses
158

CITY OF LA PALMA
Full-time Budgeted Positions by Function
Last Ten Fiscal Years
Fiscal Year Ended June 30, 2024
General
Government/
Fiscal Administrative Public Public Community
Year Services Safety Works Recreation Development Water Total 2015 6.50 29.00 5.00 4.30 3.00 7.20 55.00
2016 7.60 27.00 4.15 4.25 3.00 6.03 52.03
2017 8.00 27.00 2.40 4.30 3.00 7.30 52.00
2018 6.55 28.00 4.30 3.50 3.23 7.43 53.01
2019 8.00 29.00 3.92 3.50 2.00 6.58 53.00
2020 6.65 29.00 4.30 3.50 2.00 7.43 52.88
2021 8.00 29.00 3.60 4.00 2.00 6.40 53.00
2022 8.00 29.00 3.60 4.00 2.00 6.40 53.00
2023 8.00 29.00 3.60 4.00 2.00 6.40 53.00
2024 8.00 29.00 3.60 4.00 2.00 6.40 53.00
Source: City of La Palma Finance Department
159

Agenda Item No. 5 January 14, 2025 | 1
City of La Palma
Agenda Item No. 5
MEETING DATE: January 14, 2025
TO: City Council
FROM: City Manager
SUBMITTED BY: Ryan Hallett, Assistant City Manager
AGENDA TITLE: First Quarter Operating Report, Fiscal Year 2024-25 RECOMMENDED ACTION:

It is recommended that the City Council receive and file the First Quarter Operating Report, Fiscal Year 2024-25.

BACKGROUND:

Staff is presenting a report to Council and the public on the state of the City’s finances. This report provides the following information:

1. A snapshot of the City’s spendable fund balances at September 30, 2024, as well as the fiscal year-to-date change in spendable fund balances.

2. A review of the General Fund’s revenue and expenditures through the first quarter of the fiscal year (25% of the year as of September 30, 2024).

For the quarterly report, no quarter-end accruals are recorded. Except at fiscal year-end when accruals are recorded in accordance with accounting standards, revenue is essentially reported when cash is received and expenditures are essentially reported when cash payments are made. Many revenue and expenditure transactions do not occur at uniform times or at equal intervals throughout the year. Consequently, although transactions through the first quarter represent 25% of the fiscal year, not all line items will be at 25% of the budget as of the end of the quarter.

Making sense of the information presented herein requires consideration of the cash flow factors of major revenues and expenditures. For instance, while expenditure outflows for normal operations tend to be relatively even, the cash flow timing of capital expenditures and major revenues such as property taxes are not distributed as evenly.

SUMMARY:

The intent of this financial summary is to provide an understanding of the changes in spendable fund balance. Spendable fund balance is calculated as cash, investments, and other current assets, less

Agenda Item No. 5 January 14, 2025 | 2
current liabilities. Attached for review are the following summary schedules through the end of the quarter:
• Schedule of General Fund Revenues by Type
• Schedule of General Fund Expenditures by Department
• Schedule of General Fund Expenditures by Category
• Schedule of Spendable Fund Balances by Fund
The City’s overall spendable fund balance has decreased by $3.4 million from the beginning of the fiscal year from $42.5 million to $39.1 million at September 30, 2024. As explained further in the following section, this reduction in spendable fund balance is consistently reported in the first quarter of each fiscal year and is essentially a result of cash flow timing for major revenue sources and a few expenditures. This net decrease is accounted for as follows:
• General Fund decreased by $3.0 million
• Special Revenue Funds increased by $0.1 million
• Internal Service Funds decreased by $0.5 million
The Capital Projects, Water, and Sewer Funds had only nominal changes.

The remainder of the financial review will discuss the General Fund’s revenues and expenditures and then will report on the activity in the other funds.

General Fund
As shown in the attached charts, General Fund revenues totaled $1.7 million (12% of the budget) while expenditures totaled $4.3 million (30% of the budget) through September 30, 2024. This results in a net shortfall of revenues under expenditures of $2.6 million, which accounts for the majority of the reduction in spendable fund balance. The remaining difference is due to transferring $0.4 million to other funds, as budgeted. Similarly, the prior year had a net revenue shortfall of $2.5 million, where revenues totaled $1.5 million (9% of the year’s total revenue) and expenditures totaled $4.0 million (31% of the year’s expenditures).

Revenues
Total General Fund revenues are at 12% of the budget through the end of the first quarter. This is not unusual since the largest component of General Fund revenues is property taxes, and the first major distribution of property tax receipts is scheduled during the second quarter. Following is a discussion of the four largest General Fund revenue sources: property tax, sales tax, transaction and use tax, and utility users tax. Together, these four revenues account for approximately 70% of the General Fund’s revenue budget.
• Property Tax: The General Fund’s largest revenue source, property tax, has $58,000 of revenue recorded through September 30 (1% of the $4.8 million budget). This is similar to the prior year's receipt pattern – by the end of the first quarter of FY 2023-24, the City had received $51,000. The property tax line item includes secured and unsecured property taxes (budgeted at $2.9 million) as well as the property tax in lieu of vehicle license fees (budgeted at $1.9 million). Secured property tax payments are distributed in four main payments with estimated distributions of 40% in November/December during the second quarter, 10% in January/March during the third quarter, 40% in April/May during the fourth quarter, and the final cleanup distribution at the end of the fiscal year. Property tax payments in lieu of vehicle license fees are received in two installments: 50% is distributed in January during the third

Agenda Item No. 5 January 14, 2025 | 3
quarter and the remaining 50% is distributed in May during the fourth quarter. • Transaction & Use Tax: The transaction and use tax is the second largest budgeted revenue source. There is revenue of $176,000 recorded through September 30 (8% of the $2.3 million budget). These receipts follow the same payment track as sales tax. Receipts lag by two to three months, and much of the transaction and use tax payments received during this first quarter were recorded as prior year revenue. Current year revenues are higher than in the prior year where the revenue recorded through the end of the first quarter was $38,000, which was 2% of the total fiscal year’s revenue.
• Sales Tax: The third largest budgeted revenue source, sales tax, has $206,000 recorded through September 30 (11% of the $1.8 million budget). Sales tax receipts always lag by two to three months, and consequently, much of the actual sales tax payments received during the quarter were recorded as prior year revenue. Current year revenues are slightly higher than at the end of the prior year’s first quarter, where the revenue recorded was $118,000 which was 5% of the total fiscal year’s revenue.
• Utility Users Tax: The fourth largest budgeted revenue source is utility users tax. Payments received through September 30 total 24% of budget at $263,000. This is higher than the $208,000 revenue that was reported through the first quarter of the prior year, which was 18% of the total fiscal year’s revenue.

Other notable revenues are as follows:
• Residual Property Tax: This represents money distributed to the City from the County as a result of the State’s dissolution of redevelopment agencies in 2011. Minimal revenue has been recorded through September 30. The main distributions typically occur in December and June each year.
• Transient Occupancy Tax: No revenue has been recorded through September 30 as this payment is received on a quarterly basis in the month following the quarter’s end. The payment for the first quarter is received during the second quarter each year. • Licenses and Permits: Through September 30, $203,000 has been collected, which is 46% of the budget. The City collects approximately 80% of its business license revenue during the first half of the fiscal year, accounting for the proportionately high actual versus budgeted percentage in this category.
• Use of Money and Property: Total revenue recorded through September is $365,000 (52% of the $699,000 budget). This category is comprised of the senior housing lease, miscellaneous rental income, and investment income. Most of the first quarter’s revenue is from the $219,000 annual payment received on the senior housing lease. Miscellaneous rental income totals $36,000 and investment income totals $110,000 through September 30.

Until investments are sold, any difference between market and book value is an unrealized gain or loss; only at year-end are the unrealized gains or losses recorded as part of interest revenue. At June 30, 2024, the City recorded an unrealized loss of $168,000, a net change of $867,000 from the unrealized loss of $1.035 million at June 30, 2023. At September 30, 2024, the unrecorded, unrealized gain on investments for the actively managed investment portfolio was $378,000.

Expenditures

Agenda Item No. 5 January 14, 2025 | 4
The General Fund’s expenditures total $4.3 million through September 30 (30% of the $14.2 million budget). In comparison, the prior year’s expenditures totaled $4.0 million (31% of the $13.0 million annual expenditures) through the end of the first quarter. Following is a general discussion of each General Fund department:
• The Management Services Department is comprised of the divisions for City Council, City Manager, Legal Services, and City Clerk. The budget for this department totals $1.2 million, and expenditures through the first quarter total $197,000, 17% of the budget. In comparison, the prior year’s first-quarter expenditures totaled $190,000 which were 18% of the year’s total expenditures.
• The Administrative Services Department is comprised of the divisions for Administration, Fiscal Services, Human Resources, and Technology and Communications. The budget for this department totals $3.8 million, and expenditures through the first quarter total $2.3 million.

Expenditures are at 62% of the budget which is similar to the prior year’s first-quarter expenditures of $2.0 million which were 57% of the year’s total expenditures. The costs are proportionately high through the end of the first quarter due to making the required annual payment for the City’s unfunded pension obligation early in the year. • The Police Department has an expenditure budget of $6.1 million. As of September 30, expenditures totaled $1.2 million, which is 19% of the budget. In comparison, the prior year’s first-quarter expenditures totaled $1.1 million which were 21% of the year’s total expenditures. • The Public Works & Community Services Department covers a wide range of services that are provided to the citizens including Health & Wellness, Recreation Facility Operations, Special Events, Youth and Family Services, Citywide Maintenance, Engineering, Parks & Medians, and Street Maintenance divisions. This department has a budget of $2.5 million, and expenditures through the first quarter total $469,000 which is 19% of the budget. In comparison, the prior year’s first-quarter expenditures totaled $544,000 which were 23% of the year’s total expenditures.
• The Community Development Department accounts for the Building and Safety, Code Enforcement, and Planning divisions. This department has a budget of $648,000, and expenditures through the first quarter total $120,000 which is 18% of the budget. In comparison, the prior year’s first-quarter expenditures of $106,000 were 17% of the year’s total expenditures.

Special Revenue Funds
The Special Revenue Funds consist of funds with revenue sources that are restricted by outside parties to specific types of expenditures. The revenues consist of remittances of state gas taxes, County Measure M taxes, grants, South Coast Air Quality funding, park development fees, housingrelated sources, and other similar remittances.

The spendable fund balance increased by a net of $111,000 mainly due to payments received from state and county street-related funding sources in advance of work being done. These increases are offset by pending reimbursement of law enforcement grant expenditures.

Capital Outlay Reserve Fund
The City’s capital improvement program is for multi-year projects that improve City facilities, buildings,

Agenda Item No. 5 January 14, 2025 | 5
grounds, streets, parks, and roads. The Capital Outlay Reserve Fund accumulates monies for funding of projects that are not able to be funded by other sources such as gas tax, Measure M, RMRA, or park development funds. Through the end of the first quarter, the City has charged $834,000 to capital projects, with the majority being spent on median rehabilitation and park projects. Increases to spendable fund balance offset these expenditures and are mainly due to receiving a payment on the long-term advance made to other funds as well as receiving budgeted transfers from the General Fund. The spendable fund balance increased by a net of $28,000.

Water & Sewer Funds
The Water Fund began the year with a spendable fund balance of $3.6 million which has been reduced by $139,000 to $3.5 million at September 30. Due to the timing of recording revenues and expenses, revenues lag by one to two months during the year. The water fund’s revenues are at 7% of the budget while expenditures are at 8% of the budget through September 30. Consequently, the spendable fund balance has decreased nominally during the first quarter.

The Sewer Fund had an increase of $90,000 in spendable fund balance, with an ending spendable fund balance of $4.5 million at September 30. The sewer fund follows the same pattern as the Water Fund for the timing of recording revenues and expenses. The sewer fund’s revenues are at 11% of the budget while expenditures are at 5% of the budget through September 30. Consequently, the spendable fund balance has increased nominally during the first quarter.

Internal Service Funds
The Internal Service Funds began the year with a spendable fund balance of $4.7 million which decreased to $4.2 million at September 30. The majority of the activity in the Internal Service Funds occurs in the Risk Management/Insurance Fund, and the reduction in the spendable fund balance is mainly due to the annual insurance payments for workers’ compensation, property, and general liability coverage which are due at the beginning of the fiscal year.

FISCAL IMPACT:

None.

ATTACHMENTS:

1. General Fund Revenues by Type

2. General Fund Expenditures by Department

3. General Fund Expenditures by Category

4. Spendable Fund Balance by Fund

FIRST QUARTER FINANCIAL REPORT, FISCAL YEAR 2024-25
GENERAL FUND REVENUES BY TYPEQUARTER ENDING SEPTEMBER 30, 2024 FY 2024-25 FY 2023-24 Q1 Variance
Year-to-Date Prior Year Prior YTD Q1 Actual FY 2024-25
Actual through Q1 Actual Actual Actual through as a % of to FY 2023-24 Adopted Amended 9/30/2024 as a % of Annual 9/30/2023 Annual Increase / Revenue Type Budget Budget (25% of FY) Budget Revenue (25% of FY) Revenue <Decrease> Property Tax 4,807,000 $ 4,807,000 $ 58,387 $ 1% 4,724,473 $ 50,786 $ 1% 7,601 $ Sales Tax 1,834,300 1,834,300 205,654 11% 2,506,151 118,154 5% 87,500 Transaction & Use Tax 2,293,800 2,293,800 175,632 8% 2,230,800 38,212 2% 137,420 Utility Users Tax 1,100,000 1,100,000 262,896 24% 1,183,337 207,598 18% 55,298 Residual Property Tax 331,000 331,000 31 0% 326,446 - 0% 31 Franchise Fees 439,000 439,000 26,888 6% 524,795 45,567 9% (18,679) Transient Occupancy Tax 600,000 600,000 - 0% 646,108 - 0% - Licenses and Permits 438,500 438,500 202,873 46% 518,965 231,748 45% (28,875) Intergovernmental 15,000 15,000 1,671 11% 45,113 16,212 36% (14,541) Charges for Services 554,400 554,400 145,959 26% 571,328 152,279 27% (6,320) Fines and Forfeitures (Note 2) 100,100 100,100 10,159 10% 142,148 88,289 62% (78,130) Use of Money and Property (Note 1) 699,000 699,000 365,347 52% 1,220,478 277,571 23% 87,776 Other Revenue 244,200 244,200 68,095 28% 684,198 81,037 12% (12,942) Interfund Charges 783,000 783,000 195,725 25% 782,900 195,725 25% - Total Revenues 14,239,300 $ 14,239,300 $ 1,719,317 $ 12% 16,107,240 $ 1,503,178 $ 9% 216,139 $ Note 2: In Sept 2023, the City received an unusually large distribution from the County due to an arrestee's bond forfeiture.Note 1: The City typically holds investments rather than realizing gains or losses by selling before maturity; at year-end, the unrealized gain or loss is recorded against interest revenue. For fiscal year 2023-24, the City recorded an unrealized loss of $167,954, a net change of $867,563 from the unrealized loss at 6/30/23 of $1,035,517. At September 30, 2024, the unrealized gain on investments for the actively managed investment portfolio was $377,885.

FIRST QUARTER FINANCIAL REPORT, FISCAL YEAR 2024-25
GENERAL FUND EXPENDITURES BY DEPARTMENTQUARTER ENDING SEPTEMBER 30, 2024 FY 2024-25 FY 2023-24 Q1 Variance
Year-to-Date Q1 Actual Prior Year Prior YTD Q1 Actual FY 2024-25 Actual through as a % of Actual Actual through as a % of to FY 2023-24 Adopted Amended 9/30/2024 Amended Annual 9/30/2023 Annual Increase / Department Budget Budget (25% of FY) Budget Expenditures (25% of FY) Expenditures <Decrease> General Government 1,184,100 $ 1,184,100 $ 197,365 $ 17% 1,081,522 $ 189,922 $ 18% 7,443 $ Administrative Services 3,760,700 3,760,700 2,347,491 62% 3,613,078 2,044,967 57% 302,524Police 6,135,600 6,135,600 1,154,048 19% 5,258,011 1,084,135 21% 69,913Community Services 2,515,200 2,515,200 468,878 19% 2,368,667 544,422 23% (75,544)Community Development 648,000 648,000 119,826 18% 635,760 106,187 17% 13,639 Total 14,243,600 $ 14,243,600 $ 4,287,608 $ 30% 12,957,038 $ 3,969,633 $ 31% 317,975 $

FIRST QUARTER FINANCIAL REPORT, FISCAL YEAR 2024-25
GENERAL FUND EXPENDITURES BY CATEGORYQUARTER ENDING SEPTEMBER 30, 2024 FY 2023-24 Q1 Variance
Year-to-Date Q1 Actual Prior Year Prior YTD Q1 Actual FY 2024-25 Actual through as a % of Actual Actual through as a % of to FY 2023-24 Adopted Amended 9/30/2024 Amended Annual 9/30/2023 Annual Increase / Expenditure Type Budget Budget (25% of FY) Budget Expenditures (25% of FY) Expenditures <Decrease> Personnel Services 9,190,200 $ $ 9,190,200 $ 37% 3,410,369 $ 3,015,181 7,996,439 $ 38% 395,188 $ Maintenance and Operations 5,042,400 5,042,400 17% 876,275 951,993 4,598,400 21% (75,718)Capital Outlay/Improvements 11,000 11,000 9% 964 2,459 362,199 1% (1,495) Total $ 14,243,600 $ 14,243,600 $ 30% 4,287,608 $ 3,969,633 12,957,038 $ 31% 317,975 $ FY 2024-25

FIRST QUARTER FINANCIAL REPORT, FISCAL YEAR 2024-25
SPENDABLE FUND BALANCE - FISCAL YEAR CHANGETHROUGH THE QUARTER ENDING SEPTEMBER 30, 2024 FY Change
Balance Balance through
Fund # Fund Title 6/30/2024 9/30/2024 9/30/2024
1 General Fund 6,913,922 $ 3,945,632 $ (2,968,290) $ 3 Emergency Reserve Fund 7,767,700 7,767,700 -5 Economic Development Fund 186,282 186,282 - 17 General Fund Budget Reserves 3,565,284 3,587,294 22,010 Subtotal General Funds 18,433,188 15,486,908 (2,946,280) 10 Road Maintenance & Rehabilitation Account (RMRA) 1,314,152 $ 1,357,429 $ 43,27711 Streets Fund 253,647 283,705 30,05812 Measure M2 619,868 679,924 60,05615 Air Quality Fund 274,809 276,484 1,67516 PEG Fund 386,645 393,491 6,84620 Asset Seizure Fund 37,868 35,514 (2,354)21 Public Safety Augmentation Fund 384,260 375,526 (8,734)22 Supplemental Law Enforcement Fund 325,620 304,656 (20,964)23 SVC Authority for Abandoned Vehicles 29,086 29,265 17924 BSCC Local Law Enforcement Grant 51,291 51,607 31625 Community Foundation Public Safety Grant - (8,609) (8,609)33 Park Development Fund 5 5 -38 SA Housing Entity Fund 1,456,471 1,465,545 9,074 Subtotal Special Revenue Funds 5,133,722 5,244,542 110,820 35 Capital Outlay Reserve Fund 4,163,911 3,703,834 (460,077)37 Civic Center Rehabilitation Reserve Fund 1,955,124 2,442,989 487,865 Subtotal Capital Projects Funds 6,119,035 6,146,823 27,788 50 Water Fund 814,921 405,623 (409,298)55 Water Capital reserve Fund 2,843,118 3,113,055 269,937 Subtotal Water Related Funds 3,658,039 3,518,678 (139,361) 52 Sewer Fund 2,051,899 1,954,247 (97,652)
56 Sewer Capital Reserve Fund 2,359,387 2,546,638 187,251 Subtotal Sewer Related Funds 4,411,286 4,500,885 89,599 60 Risk Management/Insurance 1,228,929 569,947 (658,982) 61 Employee Benefits Fund 325,345 327,353 2,008
62 Building Maintenance & Replacement Fund 57,483 57,838 355 63 Vehicle Replacement Fund 1,926,388 2,020,339 93,951
64 Technology Replacement Fund 1,159,579 1,215,752 56,173 Subtotal Internal Service Funds Funds 4,697,724 4,191,229 (506,495) Total All Funds 42,452,994 $ 39,089,065 $ (3,363,929) $ Note: Spendable Fund Balance is defined as cash and current assets less current liabilities.

Agenda Item No. 6 January 14, 2025 | 1
City of La Palma
Agenda Item No. 6
MEETING DATE: January 14, 2025
TO: City Council
FROM: City Manager
SUBMITTED BY: Ryan Hallett, Assistant City Manager
AGENDA TITLE: Resolution Amending the Salary for Part-Time Employees RECOMMENDED ACTION:

It is recommended that the City Council adopt the attached Resolution amending salaries for certain part-time positions.

SUMMARY:

The City Council adopted Resolution 2023-43 on December 12, 2023, amending the salary and benefits for part-time employees. Effective January 1, 2025, California's minimum wage increased from $16.00 to $16.50 per hour. As a result, certain part-time positions require salary adjustments to meet the new state minimum wage. The attached Resolution updates the salaries for the affected positions to $16.50 per hour.

FISCAL IMPACT:

At this time, none of the affected positions are currently filled. Therefore, there is no immediate fiscal impact to the City's budget. However, should any of these positions be filled in the future, the salary adjustments outlined in the attached Resolution will ensure compliance with state law.

ATTACHMENTS:

1. Resolution

Resolution 2025-__

RESOLUTION NO. 2025-__

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

LA PALMA, CALIFORNIA, AMENDING RESOLUTION
2023-43 TO UPDATE THE SALARY SCHEDULE FOR

PART-TIME EMPLOYEES IN COMPLIANCE WITH THE

STATE MINIMUM WAGE INCREASE
WHEREAS, on December 12, 2023, the La Palma City Council adopted Resolution 2023-43 approving of salary and benefits for part-time employees and rescinding Resolution 2012-49; and
WHEREAS, On August 6, 2024, the La Palma City Council adopted Resolution 2024-29 amending salaries for the Per Diem Dispatcher and Reserve Police Officer positions; and
WHEREAS, effective January 1, 2025, California's minimum wage increased from $16.00 to $16.50 per hour; and
WHEREAS, as a result, certain part-time positions require salary adjustments to meet the new state minimum wage.

NOW, THEREFORE, BE IT RESOLVED that Attachment A to Resolution 2023-43 is hereby replaced with Attachment A to this Resolution, effective January 1, 2025.

APPROVED AND ADOPTED by the City Council of La Palma at a regular meeting on the 14th day of January, 2025.
_______________________________
Mark Waldman
Mayor
ATTEST:
_______________________________
Kimberly Kenney, CMC
City Clerk

Resolution 2025-__

STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS.

CITY OF LA PALMA )
I, KIMBERLY KENNEY, City Clerk of the City of La Palma, California, DO HEREBY CERTIFY that the foregoing Resolution was adopted by the City Council of said City at a regular meeting of said City Council held on the 14th day of January, 2025, and that it was so adopted by called vote as follows:

AYES:

NOES:
_______________________________
Kimberly Kenney, CMC
City Clerk

Resolution 2025-__

ATTACHMENT A

SALARY SCHEDULE
Title Step A Step B Step C Step D Step E Step F Step G
Intern $16.50
Cashier/Office Aide $16.50 $17.33 $18.19 $19.10 $20.06
Code Enforcement Officer $23.57 $24.74 $25.98 $27.28 $28.65 $30.08 $31.58 Community Liaison Officer $20.89 $21.93 $23.03 $24.18 $25.39 $26.66 Information Technologies Technician $16.50 $17.33 $18.19 $19.10 $20.06 Park Ranger $16.50
Per Diem Dispatcher $29.91 $31.40 $32.97 $34.62 $36.35 $38.17 Police Services Aide $17.00
Recreation Leader $16.50 $17.33 $18.19 $19.10 $20.06
Recreation Specialist $19.61 $20.59 $21.62 $22.70 $23.84 $25.03 $26.28 Reserve Police Officer $29.00
Senior Recreation Leader $17.83 $18.72 $19.66 $20.64 $21.67 Effective January 1, 2025

Agenda Item No. 7 January 14, 2025 | 1
City of La Palma
Agenda Item No. 7
MEETING DATE: January 14, 2025
TO: City Council
FROM: City Manager
SUBMITTED BY: Andy Ramirez, Public Works & Community Services Director
AGENDA TITLE: Award a Professional Services Agreement to Willdan Financial Services to Prepare a Water and Sewer Rate Study
RECOMMENDED ACTION:

It is recommended that the City Council:

1. Award a professional services agreement in an amount not to exceed $43,000 to Willdan Financial Services to prepare a Water and Sewer Rate Study;

2. Authorize a 15% contingency for unforeseen needs; and

3. Authorize the City Manager or his designee to execute all required documents.

BACKGROUND:

A water and sewer rate study is a comprehensive analysis to assess operating revenues and ensure that rates cover each utility's operational expenses, capital projects, maintenance, debt services, and financial stability. Other key elements include:
• Regulatory Compliance with local, state, or federal regulations that govern the City's water and sewer systems. This includes but is not limited to increased water quality tests, nearly a dozen detailed monthly water quality reports, quarterly reports, annual reports, consumer confidence reports, adherence to new maximum contaminant levels, and ensuring operators have required certifications to operate, treat, and maintain each utility. • A Rate Structure to identify the most efficient and effective structure, such as fixed charges and volumetric rates.
• Long-term planning to anticipate adjustments for cost of living and cost of material increases. • Staffing and compensation for adequate administration and operational coverage 24 hours a day, 7 days a week

Agenda Item No. 7 January 14, 2025 | 2
In recent years, the cost of operating and maintaining the City’s water and sewer systems has risen due to a variety of factors, including increased competition for skilled personnel as other agencies and water districts offer higher salaries and compensation packages. This competitive environment has led to staffing challenges, impacting key operational roles. To ensure the sustainability and reliability of these essential services, the City issued a Request for Proposals (RFP) in the fall of 2024 to conduct a comprehensive water and sewer rate study.

On September 30, 2024, staff posted an RFP for a water and sewer rate study on the City's procurement website, OpenGov. Although a mandatory pre-proposal meeting was scheduled for October 15, no proposers attended, prompting staff to extend the proposal deadline and remove the meeting requirement. Eleven firms reviewed the proposal, and two downloaded the project documents, but only Willdan Financial Services of Temecula, CA, submitted a proposal by the October 24 deadline. Staff reviewed and confirmed Willdan's qualifications and scope of work met the RFP requirements. As the firm conducted the City's last rate study in 2021, their familiarity with the City's operations added value. In compliance with State law for professional service selection, Willdan was determined to be the most qualified firm, with a proposed fee of $42,880. References were positive, supporting the selection decision.

SUMMARY:

The study will encompass the development of a five-year rate schedule for water and sewer services, community outreach efforts, participation in Proposition 218 protest hearings, and presentations to the City Council. This rate study aligns with the City Council’s adopted goals to ensure utility fund sustainability and promote water conservation. As part of this process, City staff will also conduct a salary survey and collaborate with Willdan Consulting to integrate its findings into the proposed rates.

The scope of work for the water and sewer rate study includes:

1. Develop water and sewer rate structures that will allow the City to meet its financial obligations and ensure long-term stability for the respective Enterprise Funds.

2. Evaluate the results of the salary survey and provide recommendations for staff positions and requirements for funding within the new rate study.

3. Identify and analyze various direct costs as included in the adopted budget for each enterprise fund including overhead costs, personnel, administrative, and operational costs to ensure that all costs of service for each Enterprise Fund are being fully accounted for and are allocated among all customer classes in a fair and equitable manner, consistent with State law.

4. Assess current rate structure performance and cost-of-service allocations as a baseline for recommending changes. Include an assessment of historical revenue, existing customer classifications, and cost of service distribution to existing classifications. Recommend changes that comply with Proposition 218 provisions and all federal, state, and local rules and regulations.

4. Assess current revenue, estimate future revenue, the ability to meet projected revenue requirements based on historical and current budgets, current operational expenses, future system requirements, expected operational changes, and Capital Improvement Plan projects.

These projects include the construction of a water treatment plant for iron, manganese, and arsenic; construction of a recycled water infrastructure for City facilities; potential new water well at City Yard; evaluation of long-term maintenance of reservoirs; evaluation of water service replacement and pipeline replacement programs; and possible costs related to additional Orange County Sanitation District costs for wastewater treatment. Inflation, debt

Agenda Item No. 7 January 14, 2025 | 3
service repayment, reserve balance level increases, and other cash obligations should also be considered.

5. Analyze the effects of increased water conservation on the recommended rate structure and potential impacts on the ability to fund operational and Capital Improvement Plan projects.

Analyze how 20% reduction in consumption will impact the revenue and costs of both Enterprise Funds.

6. Develop and propose a new five-year rate structure that includes all fixed costs for service, commodity costs, capital improvement and replacement costs, energy commodity costs, reserve fund appropriations and any proposed classification, tier structure, and alternative rate structures. Any proposed rate structure must be easy to understand and implement.

7. The study shall include the preparation of draft and final reports, presentations to the City Council and up to three (3) community workshops, preparation, and participation in Proposition 218 hearings.

FISCAL IMPACT:

The FY 2024-25 Capital Improvement Plan includes a budget of $100,000 allocated for the water and sewer rate study (055-900-9161-00000). The proposed fee of $42,880 from Willdan Financial Services falls well within the budgeted amount, leaving a remaining balance of $57,120. This ensures sufficient funds are available for any additional contingencies that may arise during the study process.

ATTACHMENTS:

1. Willdan Professional Services Agreement & Fee Schedule- Water Rate Study







 












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