La Puente City Council
January 23, 2024

PUBLIC PARTICIPATION IN CITY COUNCIL MEETINGS
PARTICIPACIÓN PÚBLICA EN LAS REUNIONES DEL CONCEJO MUNICIPAL How to Listen Live to the Meeting
Live Audio/Video: Visit the City’s website at https://lapuente.org/agenda/. Click on “View Event” for the current meeting to view it live.

Live Translation: The City offers live translation in Spanish. To access translation during the meeting, please scan the QR Code below or visit https://attend.wordly.ai/join/FWOP-2761.

Cómo escuchar la reunión en vivo
Audio en vivo: visite el sitio web de la ciudad en https://lapuente.org/agenda/. Haga clic en "Ver evento" para ver la reunión en vivo.

Traducción en vivo: La Ciudad ofrece traducción en vivo en español. Para acceder a la traducción durante la reunión, escanee el código QR a continuación o visite https://attend.wordly.ai/join/FWOP-2761.

How to Submit Public Comment
Please note that all comments are subject to the same Rules of Decorum as would otherwise apply to speakers at City Council meetings.

In Person: Public comment may be provided in-person at City Hall, 15900 E. Main Street.

In Writing: Written comments may be sent via email to [email protected] no later than 2 hours prior to the meeting start time. Email comments will be distributed to the City Council and will become part of the official record for that meeting but will not be read at the time of the City Council Meeting. To ensure your correspondence is received by the Council and City staff, please include the subject line “PUBLIC COMMENT.” Cómo enviar comentarios públicos
Tenga en cuenta que todos los comentarios están sujetos a las mismas reglas que se aplicarían a los oradores en las reuniones del Concejo Municipal.

En persona: Los comentarios públicos se pueden proporcionar en persona en el Ayuntamiento, 15900 E. Main Street.

Por escrito: Los comentarios escritos pueden enviarse por correo electrónico a [email protected] a más tardar 2 horas antes del inicio de la reunión. Los comentarios por correo electrónico se distribuirán al Concejo Municipal y formarán parte del registro oficial de esa reunión, pero no se leerán en el momento de la reunión del Concejo Municipal. Para garantizar que el Concejo Municipal y el personal de la Ciudad reciba su correspondencia, incluya la línea de asunto “COMENTARIO PÚBLICO”.

CC/SA AGENDA PAGE 1 OF 5 JANUARY 23, 2024

NOTICE AND CALL OF MEETING

SPECIAL CLOSED SESSION AND REGULAR MEETING OF

LA PUENTE CITY COUNCIL AND SUCCESSOR AGENCY

COUNCIL CHAMBERS
15900 EAST MAIN STREET, LA PUENTE
JANUARY 23, 2024
6:30 P.M. SPECIAL CLOSED SESSION
7:00 P.M. REGULAR SESSION
NOTICE IS HEREBY GIVEN that a Special Meeting of the City Council of the City of La Puente is hereby called to be held on Tuesday, January 23, 2024, commencing at 6:30 p.m., in City Council Chambers, 15900 E. Main Street, La Puente, CA 91744. The public will be provided an opportunity to provide public comment on the items listed on the agenda. The business to be discussed is as follows:
6:30 P.M. SPECIAL CLOSED SESSION

CALL TO ORDER

ROLL CALL
COUNCIL/AGENCY MEMBERS: Quinones, Klinakis, Argudo, Mendoza, Munoz

PLEDGE OF ALLEGIANCE

ORAL COMMUNICATIONS
At this time, only item(s) on the Closed Session agenda may be discussed in Public Comments.

RECESS INTO CLOSED SESSION

CLOSED SESSION

1. Conference with Legal Counsel – Existing Litigation Pursuant to Government Code section 54956.9 subdivision (d)(1) (Lewis v. City of La Puente, Los Angeles Superior Court Case No. 21STCV18841)

RECONVENE TO OPEN SESSION

REPORT OUT OF CLOSED SESSION

ADJOURNMENT

AVAILABILITY
Any writings or documents provided to a majority of the City Council/Successor Agency regarding any item on this agenda will be made available for public inspection at the City Clerk Department at City Hall located at 15900 E. Main Street and the Reference Desk at the Library located at 15920 E.

Central during normal business hours. In addition, such writings and documents will be posted on the City’s website at http://www.lapuente.org.

AMERICANS WITH DISABILITIES
In compliance with the Americans with Disabilities Act, if you need special assistance to participate in a City meeting or other services offered by the City, please contact the City Clerk’s Office at (626) 855-1500. Notification at least 24 hours prior to the meeting or time when services are needed will assist City staff in assuring that reasonable arrangements can be made to provide accessibility to the meeting or service.

MEETING TIMES
Meetings of the City Council shall be adjourned no later than 10:30 p.m., unless a motion to supersede the 10:30 time limit to consider some or all of the remaining items listed on the Agenda, or to consider items which have been added to the Agenda in accordance with the provisions of the Ralph M. Brown Act, Government Code Section 54950, et seq., is approved by a majority of the members of the City Council. (Ordinance No. 95-727.) CC/SA AGENDA PAGE 2 OF 5 JANUARY 23, 2024
Dated: January 18, 2024
Charles Klinakis, Mayor

STATE OF CALIFORNIA )

COUNTY OF LOS ANGELES ) SS

CITY OF LA PUENTE )

AFFIDAVIT OF POSTING
I, Martha Torres, City Clerk for the City of La Puente, hereby certify that a copy of the Notice and Call of a Special Meeting of the La Puente City Council, to be held on January 23, 2024, commencing at 6:30 p.m., was posted in accordance with all applicable laws and provided not less than twenty-four hours before the time of the meeting to the following:

Mayor/Chair Gabriel Quinones
Mayor Pro Tem/Vice Chair Charlie Klinakis
Council/Board Member David E. Argudo
Council/Board Member Nadia Mendoza
Council/Board Member Valerie Munoz
I declare under penalty of perjury that the foregoing is true and correct. Dated this 18th day of January, 2024.

Martha Torres, MPA
City Clerk
7:00 P.M. REGULAR SESSION

CALL TO ORDER

ROLL CALL
COUNCIL/AGENCY MEMBERS: Quinones, Klinakis, Argudo, Mendoza, Munoz

PLEDGE OF ALLEGIANCE

PRESENTATIONS
Presentation of Certificates of Recognition to La Puente High School Football Varsity Athletes (Council Member Argudo and Council Member Mendoza)
Los Angeles County Sheriff’s Department and La Puente Programs, Re-Employment, Outreach Services (P.R.O.S.) Team Activity and Information Briefing

ORAL COMMUNICATIONS
If you wish to address the City Council - Successor Agency on an item other than a public hearing matter, please complete the Request for Oral Presentation form and submit it to the City Clerk no later than prior to the conclusion of the first speaker’s remarks. All speakers are requested to observe the City's Rules of Decorum when addressing the City Council. (LPMC section 2.04.120.) CC/SA AGENDA PAGE 3 OF 5 JANUARY 23, 2024

BOARDS/COMMISSION/COMMITTEE REPORTS
Council Members provide a report on any Boards/Commission/Committee meetings, listed below, that they have attended or that have occurred.

ORGANIZATION DEL/ALT MONTHLY MEETINGS TIME
California Contract Cities Association Argudo/Quinones 3 rd Wednesday 6:30 p.m.

Sanitation District 15 & 21 Quinones/Klinakis 4
th Wednesday 1:30 p.m.

League of California Cities L.A. Div. Argudo/Mendoza 1
st Thursday 6:30 p.m.

City Selection Committee Quinones/Klinakis When Necessary 6:30 p.m.

San Gabriel Valley COG Argudo/Quinones 3
rd Thursday 4:00 p.m.

California JPIA Quinones/All Council 4
th Wednesday 6:30 p.m.

Foothill Transit Governing Board Munoz/Klinakis Last Friday of the Month 7:45 a.m.

San Gabriel Valley Mosquito &
Vector Control District
Klinakis 2
nd Friday 7:00 a.m.

A. MINUTES OF PREVIOUS CITY COUNCIL AND SUCCESSOR AGENCY MEETINGS A-1 READ AND APPROVE THE MINUTES OF THE CITY COUNCIL AND SUCCESSOR AGENCY MEETING OF JANUARY 9, 2023
Staff Recommendation: It is recommended that the City Council and Successor Agency waive the reading and approve the Minutes of the City Council and Successor Agency meeting of January 9, 2023.

B. PUBLIC HEARINGS BEFORE THE CITY COUNCIL – None
C. UNFINISHED BUSINESS OF THE CITY COUNCIL – None
D. CITY COUNCIL AND SUCCESSOR AGENCY CONSENT CALENDAR
All matters listed under Consent Calendar are considered to be routine in nature and may be enacted by one motion approving the recommendation listed on the Agenda. One or more items may be removed from the Consent Calendar so that said item(s) may be discussed and considered individually by the City Council/Successor Agency, if a motion to remove the item(s) is approved by an affirmative vote of a majority of the members of the City Council/Successor Agency. Those specific item(s) will be considered as the first item under New Business.

D-1 CONSIDERATION OF A RESOLUTION APPROVING WARRANT RESOLUTION NO. 24-5846 Staff Recommendation: It is recommended that the City Council and Successor Agency adopt Resolution No. 24-5846 approving Warrant Register No. 1564.

D-2 PRESENTATION OF OCTOBER, NOVEMBER & DECEMBER 2023 REQUISITION SUMMARY

REPORTS
Staff Recommendation: It is recommended that the City Council receive and file this report.

D-3 PRESENTATION OF OCTOBER, NOVEMBER & DECEMBER 2023 INVESTMENT REPORTS Staff Recommendation: It is recommended that the City Council receive and file this report.

CC/SA AGENDA PAGE 4 OF 5 JANUARY 23, 2024
D-4 RECEIVE AND FILE THE CITY’S ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 2023
Staff Recommendation: It is recommended that the City Council receive and file the Annual Comprehensive Financial Report, the Independent Accountant’s report on the Appropriations Limit Worksheet, the Independent Auditor’s Report on Internal Control and Compliance, and the Statement on Auditing Standard No. 114 Report for the fiscal year ended June 30, 2023.

D-5 CONSIDERATION OF RESOLUTION APPROVING THE FILING OF APPLICATION(S) FOR THE

GRANT FUNDS FROM THE STATE DEPARTMENT OF PARKS AND RECREATION Staff Recommendation: It is recommended that the City Council approve Resolution No. 24-5847, approving the application(s) for the Specified Grant Funds with the California Department of Parks and Recreation.

E. NEW BUSINESS TO BE CONSIDERED BY THE CITY COUNCIL
E-1 PRESENTATION OF OCTOBER, NOVEMBER & DECEMBER 2023 BUDGET REPORTS Staff Recommendation: It is recommended that the City Council receive and file this report.

E-2 INTRODUCTION AND CONSIDERATION OF AN ORDINANCE OF THE CITY COUNCIL OF THE

CITY OF LA PUENTE, CALIFORNIA, ADOPTING BY REFERENCE, PURSUANT TO GOVERNMENT CODE SECTION 50022.2, TITLE 32 FIRE CODE OF THE LOS ANGELES COUNTY CODE, INCORPORATING BY REFERENCE THE CALIFORNIA FIRE CODE 2022

EDITION, AND ADOPTING LOCAL AMENDMENTS THERETO, AND MAKING FINDINGS FOR SAME
Staff Recommendation: It is recommended that the City Council: (1) waive reading of Ordinance No. 24- 984 and read by title only; and (2) introduce Ordinance No. 24-984, an Ordinance of the City Council of the City of La Puente Adopting By Reference, Pursuant to Government Code Section 50022.2, Title 32 - Fire Code of the Los Angeles County Code, Incorporating by Reference the California Fire Code 2022 Edition and Adopting Local Amendments Thereto, and Making Findings For Same; (3) set the date of February 27, 2024 to conduct a public hearing for the adoption of Ordinance No. 24-984; and (4) approve and adopt the Notice of Exemption.

E-3 DISCUSSION REGARDING ASSEMBLY BILL 734 – YOUTH TACKLE FOOTBALL (MAYOR PRO

TEM KLINAKIS/COUNCIL MEMBER MUNOZ)
Staff Recommendation: It is recommended that the City Council discuss this item and provide any necessary direction to Staff.

E-4 UPDATE AND DISCUSSION REGARDING COMMUNITY SERVICES PROGRAMMING Staff Recommendation: It is recommended that the City Council discuss this item and provide any necessary direction to Staff.

E-5 DISCUSSION AND DIRECTION REGARDING THE BUSINESS GRANT PROGRAM Staff Recommendation: It is recommended that the City Council discuss this item and provide any necessary direction to Staff.

CC/SA AGENDA PAGE 5 OF 5 JANUARY 23, 2024

ADHOC COMMITTEE REPORTS
Council Members provide a report on any Ad Hoc Committee meetings that they have attended.

NAME 1. MEMBERS
Code Enforcement and Public Safety Committee 2. Klinakis/Mendoza La Puente Park Fees, Ordinance and Program Oversight Committee 3. Quinones/Munoz Project LEAD Committee 1. Quinones/Mendoza
LPQT Action Committee 2. Quinones/Mendoza
Rowland, Bassett, and Hacienda La Puente Unified School Districts Liaison Committee

3. Klinakis/Munoz
Grant Writing Committee 4. Klinakis/Munoz
AB 1234 REPORTS

ORAL COMMENTS FROM COUNCIL

ORAL COMMENTS FROM STAFF

ADJOURNMENT

AVAILABILITY
Any writings or documents provided to a majority of the City Council/Successor Agency regarding any item on this agenda will be made available for public inspection at the City Clerk Department at City Hall located at 15900 E. Main Street and the Reference Desk at the Library located at 15920 E.

Central during normal business hours. In addition, such writings and documents will be posted on the City’s website at http://www.lapuente.org.

AMERICANS WITH DISABILITIES
In compliance with the Americans with Disabilities Act, if you need special assistance to participate in a City meeting or other services offered by the City, please contact the City Clerk’s Office at (626) 855-1500. Notification at least 48 hours prior to the meeting or time when services are needed will assist City staff in assuring that reasonable arrangements can be made to provide accessibility to the meeting or service.

MEETING TIMES
Meetings of the City Council shall be adjourned no later than 10:30 p.m., unless a motion to supersede the 10:30 time limit to consider some or all of the remaining items listed on the Agenda, or to consider items which have been added to the Agenda in accordance with the provisions of the Ralph M. Brown Act, Government Code Section 54950, et seq., is approved by a majority of the members of the City Council. (Ordinance No. 95-727.)

CERTIFICATION
I hereby certify under penalty of perjury, under the laws of the State of California that the foregoing agenda was posted in accordance with the applicable legal requirements.

Dated this 18th day of January, 2024.

Martha Torres, MPA
City Clerk

MINUTES

LA PUENTE CITY COUNCIL AND SUCCESSOR AGENCY

CLOSED SESSION AND REGULAR MEETING OF
JANUARY 9, 2024
CC/SA MINUTES PAGE 1 OF 8 JANUARY 9, 2024
A Closed Session and Regular Meeting of the City Council of the City of La Puente was held in the Council Chambers of City Hall, 15900 East Main Street, La Puente, California, on Tuesday, January 9, 2024, at 6:00 p.m.
6:00 P.M. CLOSED SESSION

CALL TO ORDER
Mayor Quinones called the meeting to order at 6:06 p.m.

ROLL CALL
Members present: Quinones, Klinakis, Argudo, Mendoza.

Members absent: Munoz.

Staff members present: City Manager Bob Lindsey, City Attorney Susie Altamirano, City Clerk Martha Torres, Director of Development Services John Di Mario, and Office Specialist Jackie Cortez.

PLEDGE OF ALLEGIANCE
Mayor Quinones led the Pledge of Allegiance.

ORAL COMMUNICATIONS – None

RECESS INTO CLOSED SESSION
The City Council recessed into closed session at 6:07 p.m. to discuss the item as posted on the agenda.

CLOSED SESSION

1. CONFERENCE WITH LEGAL COUNSEL ANTICIPATED LITIGATION – Significant exposure to litigation pursuant to Government Code Section 54956.9 subdivision (d)(2) (two potential cases)

RECONVENE TO OPEN SESSION
The City Council reconvened to open session at 7:10 p.m.

Per Robert’s Rules of Order Newly Revised 11th Edition, minutes are a record of the actions taken by the body. These minutes do not include a summary of the discussion but only reflect the action taken by the body. A complete audio recording of this meeting is available on the City’s website www.lapuente.org.

AGENDA ITEM NO. A-1
CC/SA MINUTES PAGE 2 OF 8 JANUARY 9, 2024

REPORT OUT OF CLOSED SESSION
City Attorney Altamirano reported out of closed session. In regard to the first matter, direction was given by Council, and no reportable action was taken. In regard to the second matter, direction was given by Council, and no reportable action was taken.
7:00 P.M. REGULAR SESSION

CALL TO ORDER
Mayor Quinones called the meeting to order at 7:12 p.m.

ROLL CALL
Members present: Quinones, Klinakis, Argudo, Mendoza.

Members absent: Munoz.

Staff members present: City Manager Bob Lindsey, City Attorney Susie Altamirano, City Clerk Martha Torres, Director of Administrative Services Troy Grunklee, Director of Development Services John Di Mario, Chief/Director of Public Safety Jeffrey Buckwell, Director of Community Services Alexander Bauman, and Office Specialist Jackie Cortez.

PRESENTATIONS
Sergeant Barajas of the Los Angeles County Sheriff’s Department spoke regarding traffic safety in the City and introduced Deputies Jake Adamo and Austin Jordan.

Community Outreach Program Coordinator Brian Torres of the La Puente Programs, ReEmployment, Outreach Services (P.R.O.S.) Team provided an information briefing on recent activity within the City.

ORAL COMMUNICATIONS
Allison Martinez spoke regarding hosting an educational event to inform local residents regarding educational opportunities.

Manuel Maldonado spoke regarding traffic safety in the City and local school districting.

BOARDS/COMMISSION/COMMITTEE REPORTS – None
A. MINUTES OF PREVIOUS CITY COUNCIL AND SUCCESSOR AGENCY

MEETINGS
CC/SA MINUTES PAGE 3 OF 8 JANUARY 9, 2024
A-1 READ AND APPROVE THE MINUTES OF THE CITY COUNCIL AND SUCCESSOR AGENCY MEETINGS OF DECEMBER 12, 2023
A motion was made by Council Member Argudo, seconded by Mayor Pro Tem Klinakis, to waive the reading and approve the Minutes of the City Council and Successor Agency meeting of December 12, 2023. The motion carried by the following roll call vote:

AYES: Quinones, Klinakis, Argudo, Mendoza
NOES: None
ABSTAIN: None
ABSENT: Munoz
B. PUBLIC HEARINGS BEFORE THE CITY COUNCIL
B-1 CONSIDERATION OF A RESOLUTION APPROVING THE CITY’S COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM FOR FISCAL YEAR 2024-2025 Director Di Mario provided a staff report and briefing on the City’s Community Development Block Grant Program for fiscal year 2024-2025.

In response to an inquiry from Council Member Argudo regarding unprogrammed funds, Director Di Mario clarified unprogrammed funds may be funds that are unspent or other circumstances. Discussion ensued regarding funding allocation and the grant waiting list.

Mayor Quinones spoke regarding funding allocation.

City Manager Lindsey stated that City Staff would go back to clarify waitlist eligibility and other details such as account allocation and bring additional information to the next regular meeting.

Mayor Quinones opened the public hearing.

Manuel Maldonado spoke regarding his experience with the City’s CDBG program.

Nestor Rodriguez spoke regarding his experience with the City’s CDBG program.

The City Council provided additional comments regarding the program allocation.

There being no further members of the public wishing to speak, Mayor Quinones closed the public hearing.

CC/SA MINUTES PAGE 4 OF 8 JANUARY 9, 2024
A motion was made by Mayor Pro Tem Klinakis, seconded by Council Member Mendoza, to adopt Resolution No. 24-5842 authorizing the City’s CDBG Program for Fiscal Year 2024-2025 with direction to staff to review CDBG grant applications and report back at the next City Council Meeting. The motion carried by the following roll call vote:

AYES: Quinones, Klinakis, Argudo, Mendoza
NOES: None
ABSTAIN: None
ABSENT: Munoz
C. UNFINISHED BUSINESS OF THE CITY COUNCIL – None
D. CITY COUNCIL AND SUCCESSOR AGENCY CONSENT CALENDAR
Council Member Argudo pulled Item D-2 for further discussion.

A motion was made by Council Member Argudo, seconded by Mayor Pro Tem Klinakis, to approve Consent Calendar Item D-1. The motion carried by the following roll call vote:

AYES: Quinones, Klinakis, Argudo, Mendoza
NOES: None
ABSTAIN: None
ABSENT: Munoz
D-1 CONSIDERATION OF A RESOLUTION APPROVING WARRANT RESOLUTION NO. 24-5843
Action Taken: The City Council and Successor Agency adopted Resolution No. 24-5843 approving Warrant Register No. 1563.

D-2 CONSIDERATION OF AWARD OF CONSTRUCTION CONTRACT TO ALFARO COMMUNICATION CONSTRUCTION, INC. FOR THE RECTANGULAR RAPID

FLASHING BEACON INSTALLATION ON OLD VALLEY BOULEVARD AND FIRST STREET IN THE AMOUNT OF $150,184.40
This item was pulled by Council Member Argudo for further discussion.

Director Di Mario provided a staff report. In response to an inquiry from Council Member Argudo regarding street improvements, Director Di Mario clarified that the street improvements would include a bulb-out.

In response to an inquiry from Council Member Mendoza regarding the traffic study, Director Di Mario confirmed the traffic engineers’ study had recommended the bulb-out.

CC/SA MINUTES PAGE 5 OF 8 JANUARY 9, 2024
In response to an inquiry from Mayor Pro Tem Klinakis regarding the signage, Director Di Mario clarified that the crosswalk signage would be solar-powered and pedestrianactivated.

Council Member Argudo spoke regarding the safety of making a left turn at the intersection.

Discussion ensued regarding traffic safety and possible options for the intersection.

City Manager Lindsey stated that Staff will discuss options for the intersection with the traffic engineers and will report back at a future City Council meeting.

A motion was made by Council Member Argudo, seconded by Mayor Pro Tem Klinakis, to: (1) award the contract to Alfaro Communication Construction, Inc. in the amount of $150,184.40; (2) authorize the City Manager to execute the Agreement and approve change orders up to 10% of the original bid amount; and (3) adopt Resolution No. 24-5844 amending the Fiscal Year 2023-2024 Capital Improvement Program Budget, with the recommendations to mitigate the flow of vehicular traffic. The motion carried by the following vote:

AYES: Quinones, Klinakis, Argudo, Mendoza
NOES: None
ABSTAIN: None
ABSENT: Munoz
E. NEW BUSINESS TO BE CONSIDERED BY THE CITY COUNCIL
E-1 CONSIDERATION OF: (1) APPOINTMENTS TO REGIONAL BOARDS; AND (2) A

RESOLUTION APPOINTING SPECIFIC REPRESENTATIVES TO THE SAN

GABRIEL VALLEY COUNCIL OF GOVERNMENTS
Mayor Quinones made the following appointments to regional boards, commissions, and committees:

Council Member Argudo as the delegate and Mayor Quinones as the alternate to the California Contract Cities Association.

Mayor Quinones as the delegate and Mayor Pro Tem Klinakis as the alternate to Sanitation Districts 15 and 21.

Council Member Argudo as the delegate and Council Member Mendoza as the alternate to the League of California Cities.

Mayor Quinones as the delegate and Mayor Pro Tem Klinakis as the alternate to the City Selection Committee.

CC/SA MINUTES PAGE 6 OF 8 JANUARY 9, 2024
Council Member Argudo as the delegate and Mayor Quinones as the alternate to the San Gabriel Valley Council of Governments.

Mayor Quinones as the delegate and Mayor Pro Tem Klinakis, Council Member Argudo, Council Member Mendoza, and Council Member Munoz, as the alternates to the California Joint Powers Insurance Authority.

Council Member Munoz as the delegate and Mayor Pro Tem Klinakis as the alternate to the Foothill Transit Governing Board.

Mayor Pro Tem Klinakis as the delegate to the San Gabriel Valley Mosquito & Vector Control District.

A motion was made by Mayor Pro Tem Klinakis, seconded by Council Member Mendoza, to appoint Council Member Argudo as the Delegate with Mayor Quinones as the Alternative to the San Gabriel Valley Council of Governments. The motion carried by the following roll call vote:

AYES: Quinones, Klinakis, Argudo, Mendoza
NOES: None
ABSTAIN: None
ABSENT: Munoz
E-2 CONSIDERATION OF APPOINTMENTS OF CITY COUNCIL MEMBERS TO AD

HOC COMMITTEES
Mayor Quinones established the following ad hoc committees:

Mayor Pro Tem Klinakis and Council Member Mendoza would serve on the Code Enforcement and Public Safety Committee ad hoc committee.

Mayor Quinones and Council Member Munoz would serve on the La Puente Park Fees, Ordinance, and Program Oversight Committee ad hoc committee.

Mayor Quinones and Council Member Mendoza would serve on the Project Lead Committee ad hoc committee.

Mayor Quinones and Council Member Mendoza would serve on the LPQT Action Committee ad hoc committee.

Mayor Quinones disbanded the Adaptive Sports League and Enrichment Programs Oversight Committee.

Mayor Pro Tem Klinakis and Council Member Munoz would serve on the Rowland, Bassett, and Hacienda La Puente Unified School Districts Liaison Committee ad hoc committee.

CC/SA MINUTES PAGE 7 OF 8 JANUARY 9, 2024
Mayor Pro Tem Klinakis and Council Member Munoz would serve on the Grant Writing Committee ad hoc committee.

E-3 DISCUSSION AND CONSIDERATION TO APPROVE A FIRST AMENDMENT TO

THE EXISTING AGREEMENT FOR CITY ATTORNEY SERVICES WITH

OLIVAREZ MADRUGA LAW ORGANIZATION, LLP
A motion was made by Council Member Argudo, seconded by Mayor Quinones, to approve the First Amendment to the existing Agreement for City Attorney Services, in accordance with Government Code Sections 53262, 54953(c)(3) and 54956(b); and (2) authorize the City Manager to make nonmaterial changes and execute all implementing documents. The motion passed with the following roll call vote:

AYES: Quinones, Klinakis, Argudo, Mendoza
NOES: None
ABSTAIN: None
ABSENT: Munoz

AD HOC COMMITTEE REPORTS
Code Enforcement and Public Safety Committee: Nothing to report.

La Puente Park Fees, Ordinance and Program Oversight Committee: Nothing to report.

Project LEAD Committee: Council Member Mendoza reported that the committee met with the Project LEAD principals in advance of the LEAD-ership Conference that will be held on January 30, 2024.

LPQT Action Committee: Nothing to report.

Adaptive Spots League and Enrichment Programs Oversight Committee: Nothing to report.

Rowland, Bassett, and Hacienda La Puente Unified School Districts Liaison Committee: Nothing to report.

Grant Writing Committee: Nothing to report.

AB 1234 REPORTS – None

ORAL COMMENTS FROM COUNCIL
Council Member Argudo congratulated Mayor Quinones on his first City Council meeting.

Mayor Pro Tem Klinakis thanked City Staff for their work over the holidays to ensure the City was safe and clean.

CC/SA MINUTES PAGE 8 OF 8 JANUARY 9, 2024
Council Member Mendoza congratulated City Staff for their accomplishments and progress in the City.

Mayor Quinones thanked City Staff for their hard work and recognized National Law Enforcement Appreciation Day.

ORAL COMMENTS FROM STAFF
City Manager Lindsey recognized and thanked the graffiti abatement team in the Maintenance Department for their quick response time and tireless efforts.

Director Di Mario gave an update on the 5-Year Local Hazard Mitigation Plan and stated that it would be brought back at a future City Council meeting.

ADJOURNMENT
There being no further business before the City Council, Mayor Quinones adjourned the meeting at 8:32 p.m.

Approved this 23rd day of January, 2024.

Martha Torres, MPA Gabriel Quiñones
City Clerk Mayor/Chair
RESOLUTION NO. 24-5846 PAGE 1 OF 1 JANUARY 23, 2024
RESOLUTION NO. 24-5846

A RESOLUTION OF THE CITY COUNCIL OF THE CITY

OF LA PUENTE ALLOWING CERTAIN CLAIMS AND
DEMANDS IN THE AMOUNT $1,089,977.92 (WARRANT
REGISTER 1564)

THE CITY COUNCIL OF THE CITY OF LA PUENTE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:

SECTION 1: That in accordance with Section 37202 of the Government Code, the Director of Administrative Services, or designated representative, hereby certifies, and the City Manager hereby approves the accuracy of the following demands and the availability of funds for payment thereof.

APPROVED EXAMINED
______________________________ __________________________________ Bob Lindsey, City Manager Troy Grunklee, CPA
Director of Administrative Services
SECTION 2: That the following claims and demands numbered 11565 through 11648 ACH(s) numbered 658 through 667, and Draft numbered 02339 through 02353 except for voided warrant 11193 have been audited as required by law and the same are hereby allowed in the amounts hereinafter set forth on the attached check registers.

CERTIFIED, PURSUANT TO GOVERNMENT CODE, SECTION 37208, AS CONFORMING TO ADOPTED BUDGET, EXCEPT WARRANT NOS: NONE
_____________________________
Martha Torres, MPA, City Clerk
PASSED, APPROVED AND ADOPTED this 23rd day of January, 2024, by the following vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

ABSTAIN: COUNCILMEMBERS:
______________________________
Gabriel Quiñones, Mayor
ATTEST:
_____________________________________
Martha Torres, MPA, City Clerk
AGENDA ITEM NO. D-1
1/16/2024 5:34:41 PM Page 1 of 13
Check Register Report
City of La Puente By Payment Number
Payment Dates 1/4/2024 - 1/12/2024
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
658 1/5/2024 GLOURB GLOBAL URBAN STRATEGIES, INC 27,825.00 498 SOCIAL MEDIA TECHNOLOGY 100-4140-53416 16,000.00
499 12/23 LOCAL AGING GRANT 280-3300-53111 11,825.00
659 1/5/2024 IGMTEC IGM TECHNOLOGY 20,000.00
1542 FY 24/25 BUDGET SOFTWARE 550-6100-53017 20,000.00
660 1/5/2024 STEOVE STEVE OVERSTREET 99.00
INV0010153 SOFTWARE REIM-OVERSTREET 550-6100-53017 99.00 661 1/5/2024 THYSSE TK ELEVATOR 1,253.62
3007506515 10-12/23 CH ELEVATRO MTCE 100-1150-53811 1,253.62 662 1/12/2024 TELABR ABRAHAM TELLEZ 3,588.00
INV0010168 EDUCATION REIM-TELLEZ 100-1135-53151 3,588.00 663 1/12/2024 ENTFMT ENTERPRISE FM TRUST 20,986.85
FBN4924487 01/23 VEHICLE MTCE 555-3150-53812 6,000.48
FBN4924487 01/23 VEHICLE LEASE 555-3150-53912 14,986.37 664 1/12/2024 SGVCOR SAN GABRIEL VALLEY CONSERVATION CORPS 45,936.53 SGVCONS-029 12/01-15 SGV CONS #29 280-3300-53111 45,936.53 666 1/12/2024 TANKO TANKO LIGHTING 16,363.00
69301 12/23 ST LIGHT MTCE 285-3330-53111 1,612.00
69309 11/23 POLE-AZUSA 285-3330-53111 6,472.00
69317 12/23 POLE-SAN JOSE 285-3330-53111 8,279.00
667 1/12/2024 YUNLLC YUNEX LLC 1,849.16
5610000834 TS RESPONSE-GLENDORA&TEMPLE 200-3120-53819 288.66 90001141 11/23 TS MTCE 200-3120-53819 1,560.50
11565 1/5/2024 STADIS CALIFORNIA STATE DISBURSEMENT UNIT 423.00 INV0010130 CHILD SUPPORT 100-20399 423.00
11566 1/5/2024 NATRS NATIONWIDE RETIREMENT 230.00
INV0010136 Employee Contribution 100-20340 218.45
INV0010136 Employee Contribution 200-20340 2.31
INV0010136 Employee Contribution 203-20340 2.31
INV0010136 Employee Contribution 205-20340 2.31
INV0010136 Employee Contribution 210-20340 2.31
INV0010136 Employee Contribution 215-20340 2.31
11567 1/5/2024 RELIAN RELIANCE STANDARD LIFE INS. 3,663.77 INV0010129 LIFE INSURANCE 100-20320 702.39
INV0010129 LIFE INSURANCE 200-20320 20.96
INV0010129 LIFE INSURANCE 203-20320 6.52
INV0010129 LIFE INSURANCE 205-20320 7.73
INV0010129 LIFE INSURANCE 210-20320 8.60
INV0010129 LIFE INSURANCE 215-20320 4.66
INV0010129 LIFE INSURANCE 260-20320 16.55
INV0010129 LIFE INSURANCE 283-20320 3.59
INV0010129 LIFE INSURANCE 285-20320 7.00
INV0010134 LTD INSURANCE 100-20330 1,356.20
INV0010134 LTD INSURANCE 200-20330 51.29
INV0010134 LTD INSURANCE 203-20330 19.25
INV0010134 LTD INSURANCE 205-20330 24.64
Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 2 of 13
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
INV0010134 LTD INSURANCE 210-20330 24.90
INV0010134 LTD INSURANCE 215-20330 21.87
INV0010134 LTD INSURANCE 260-20330 37.73
INV0010134 LTD INSURANCE 283-20330 6.85
INV0010134 LTD INSURANCE 285-20330 13.12
INV0010141 STD INSURANCE 100-20330 1,159.23
INV0010141 STD INSURANCE 200-20330 43.86
INV0010141 STD INSURANCE 203-20330 16.47
INV0010141 STD INSURANCE 205-20330 21.08
INV0010141 STD INSURANCE 210-20330 21.31
INV0010141 STD INSURANCE 215-20330 18.69
INV0010141 STD INSURANCE 260-20330 32.22
INV0010141 STD INSURANCE 283-20330 5.85
INV0010141 STD INSURANCE 285-20330 11.21
11568 1/5/2024 FTB STATE OF CALIFORNIA FRANCHISE TAX BOARD 297.32 INV0010131 PR WITHOLDING ORDER 100-20399 297.32
11569 1/5/2024 USBANK U.S BANK PARS ACCT# 6746022400 5,455.22 INV0010140 PARS RETIREMENT 100-20340 4,989.53
INV0010140 PARS RETIREMENT 203-20340 180.24
INV0010140 PARS RETIREMENT 205-20340 142.91
INV0010140 PARS RETIREMENT 260-20340 70.59
INV0010140 PARS RETIREMENT 285-20340 71.95
11570 1/5/2024 AMABUS AMAZON CAPITAL SERVICES INC 3,403.13 13ML-HKFV-4Y61 USB ADAPTOR 550-6100-53018 49.40
17JG-K1V3-HVDK MICROPHONE-COUCIL CHAMBERS 275-1125-54585 85.80 19R4-XRYM-G144 GLITTER TABLE CONFETTI 100-1120-53011 -14.29 1CGL-V96G-36MK HP ENVY LAPTOPS (3) 550-6100-53018 3,345.81 1NTQ-RRH6-GGJR SERVING TONGS 100-1120-53011 -10.87
1PMD-DR4F-GTHN WHITE TABLE CLOTHES 100-1120-53011 -25.23 1QJT-N6YP-GN7V PLATTER SET 100-1120-53011 -27.49
11571 1/5/2024 B2PRIN B2 PRINT 581.00
0012506 BUSINESS CARDS-BUCKWELL 100-2110-53411 164.00
0012511 BUSINESS CARDS-ANDRADE 100-2130-53011 38.50
0012511 BUSINESS CARDS-COOK 100-3310-53011 38.50
0012528 BUSINESS CARDS-COUNCIL 100-1100-53976 340.00
11572 1/5/2024 BRILAN BRIGHTVIEW LANDSCAPING SERVICES INC. 11,416.75 8691848 12/24 SR CENTER LANDSCAPE MTCE 100-4130-53814 253.50 8691848 12/24 MEDIANS LANDSCAPE MTCE 200-3120-53814 6,446.68 8691848 12/24 CH LANDSCAPE MTCE 285-3330-53814 2,391.91 8691848 12/24 GN NATURE CTR LANDSCAPE MTCE 285-3330-53814 2,324.66 11573 1/5/2024 TIMEWA CHARTER COMMUNICATIONS 1,343.00
0400926121023 12/10-01/09 FIBER 1GBPS 100-1150-53715 1,343.00 11574 1/5/2024 CED CONSOLIDATED ELECTRICAL DISTRIBUTORS, INC 57.55 3301-1014961 IRRIGATION SUPPLIES 285-3330-53822 57.55
11575 1/5/2024 CORCON CORRAL CONSTRUCTION & DEVELOPMENT INC. 5,458.22 INV0010151 LP PARK WEST RESTROOM RETENTION 100-20220 5,458.22 11576 1/5/2024 COUPLU COURTESY PLUMBERS, INC. 450.00
113961 LP PARK RESTROOM SVC 100-3330-53813 450.00
11577 1/5/2024 DSA DIVISION OF THE STATE ARCHITECT 108.00 INV0010155 S1186-OCT-NOV-DEC 2023 100-42160 108.00
11578 1/5/2024 DSRM DSRM CABLE CONSTRUCTION INC 42,926.47 26236 VALLEY BLVD SEWER REPAIR 500-3210-53111 6,437.00
Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 3 of 13
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
26236 VALLEY VLVD SEWER REPAIR 500-3210-53111 19,650.00 26393 SINK HOLE REPAIR-NELSON 200-3120-53817 16,839.47
11579 1/5/2024 EXTOFF EXTENDED OFFICE SOLUTIONS INC 619.76 INV0010152 01/24 PHONE SERVICES 100-1150-53715 619.76
11580 1/5/2024 GREOUT GREENFIELDS OUTDOOR FITNESS 1,922.25 S24847 OUTDOOR FITNESS EQUIPMENT 285-3330-53822 1,922.25 11581 1/5/2024 JCLBAR JCL TRAFFIC 66.87
122266 SPEED LIMIT SIGNAGE 200-3120-53821 66.87
11582 1/5/2024 RAMJOS JOSE RAMIREZ 189.31
INV0010156 BOOT REIM-RAMIREZ 100-3330-53015 189.31
11583 1/5/2024 JOSREY JOSE REYES 1,030.36
INV0010157 12/16-30 SHOPPING CART MILEAGE REIM-REYES 555-3150-53014 495.20 INV0010158 12/01-15 SHOPPING CART MILEAGE REIM-RYES 555-3150-53014 535.16 11584 1/5/2024 LEWIS LEWIS ENGRAVING, INC 12.13
38835 NAME BADGE-QUINONES 100-1100-53976 12.13
11585 1/5/2024 MARK MARK'S WELDING SERVICE 1,425.00
90 POWDER COATING-TRUSS (AMPHITHEATER) 100-5596-59300 1,425.00 11586 1/5/2024 PERMET METZIL PEREZ 218.82
INV0010154 SCHOLARSHIP REIM-PEREZ 100-4140-53992 218.82 11587 1/5/2024 QUINMO QUINTIN'S MOBIL 390.44
1010208 FUEL 555-3150-53014 151.00
1013579 FUEL 555-3150-53014 50.00
1013790 FUEL 555-3150-53014 143.92
1014154 FUEL 555-3150-53014 45.52
11588 1/5/2024 RESOUR RESOURCE BUILDING MATERIALS 583.96 3713458 WOOD STAKES 48" 285-3330-53822 290.18
3718774 CONCRETE MIX 285-3330-53822 293.78
11589 1/5/2024 STANLE STANLEY PEST CONTROL, INC. 85.00
630497 12/23 ABBEY ST PEST CONTROL 200-3120-53814 85.00 11590 1/5/2024 TERMI TERMINIX PROCESSING CENTER 236.00
441104488 12/07 CC PEST CONTROL 285-3330-53813 47.00
441107453 12/07 CH PEST CONTROL 100-1150-53813 85.00
441107485 12/07 CH PEST CONTROL 100-1150-53813 104.00
11591 1/5/2024 RIGMAN THE RIG MAN 1,735.50
7843 FABRICATION/WELDED ITEMS 100-3330-53012 750.00
7844 SPRAY BOOM REPAIR 100-3330-53012 985.50
11592 1/5/2024 CALCARD US Bank CalCard 9,968.65
INV0010124 COUNCIL REORG - MAYOR 100-1100-53976 68.32
INV0010124 MTG LP BUSINESS LOAN 100-1110-53972 11.44
INV0010124 MTG WITH STAFF 100-1110-53972 25.90
INV0010124 MTG FOR POST PARK EVENT 100-1110-53972 59.25 INV0010124 TRUTHFINDER 100-1135-53406 16.95
INV0010124 FUEL 555-3150-53014 88.85
INV0010124 FUEL 555-3150-53014 42.79
INV0010124 FUEL 555-3150-53014 47.99
INV0010124 FUEL 555-3150-53014 49.50
INV0010124 FUEL 555-3150-53014 70.10
INV0010124 FUEL 555-3150-53014 76.82
INV0010124 FUEL 555-3150-53014 104.05
INV0010124 FUEL 555-3150-53014 92.63
Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 4 of 13
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
INV0010125 BANNER ORDER 100-4100-53011 36.01
INV0010125 STORAGE CONTAINERS 100-4100-53011 70.08
INV0010125 SPORTS EQUIPMENT 100-4110-53980 28.98
INV0010125 SENIOR CENTER DAILY COFFEE 100-4130-53011 56.13 INV0010125 PIZZA FOR MOCK MTG/LEAD PROGRAM 100-4140-53976 275.50 INV0010125 VETERAN'S DINNER 100-4140-53979 118.41
INV0010125 VETERAN'S DINNER 100-4140-53979 137.88
INV0010125 VETERANS DINNER 100-4140-53979 271.21
INV0010125 TABLE COVERS FOR VETERAN'S DAY DINNER 100-4140-53979 288.20 INV0010125 DIA DE LOS MUERTOS 100-4140-53979 207.50
INV0010125 VETERAN'S DINNER CENTER PIECES 100-4140-53979 566.50 INV0010125 2 FLAGS FOR VETERANS CEREMONY 100-4140-53979 679.17 INV0010125 TRUNK O'TREAT 100-4140-53979 939.71
INV0010125 SNOW MACHINE FLUID 100-4140-53979 473.78
INV0010125 TABLE COVERS FOR PROJECT LEAD 100-4140-53993 28.98 INV0010125 SUPPLIES FOR TEEN BOOTH HOLIDAY TREE LIGHTING 600-20250 44.55 INV0010125 LP LIVE TEEN VOIC 600-20250 28.98
INV0010126 ICSC CONF SAN DIEGO - TELLEZ 100-3300-53972 116.00 INV0010126 ICSC CONF - TELLEZ 100-3300-53972 675.00
INV0010126 ICSC CONF SAN DIEGO - GALVAN 100-3300-53972 691.46 INV0010126 ICSC CONF - GALVAN 100-3300-53972 923.46
INV0010126 HAZ MAT TRAINING - TELLEZ 100-3300-53976 100.00 INV0010149 BUDGET AWARD APP FEE FY 2023 100-1130-53111 575.00 INV0010149 CSMFO LUNCHEON 100-1130-53972 100.00
INV0010149 CSMFO CONF - MERKEL MEDINA 100-1130-53972 515.00 INV0010149 ANIMAL CONTROL EQUIPMENT 100-2130-53012 246.37 INV0010149 FOUNDATION - TAX FILING 100-48900 49.90
INV0010149 FOUNDATION - TAX FILING 100-48900 199.90
INV0010149 REHAB SUPPLIES 260-3320-53977 53.35
INV0010149 OPERATING SUPPLIES 263-3320-53015 188.60
INV0010149 REMARKABLE (3) 550-6100-53017 8.97
INV0010149 BODY MOUNT FOR CAMERAS 550-6100-53018 110.26 INV0010149 BODY WORN CAMERA HARNESS 550-6100-53018 112.35 INV0010149 IT SUPPORT 550-6100-53018 276.00
INV0010149 CODE VEH 555-3150-53812 20.87
11594 1/5/2024 WALIRW WALTERS WHOLESALE ELECTRIC CO. 607.28 S124501762.1 LP PARK ELECTRICAL SUPPLIES 100-3330-53012 607.28 11595 1/12/2024 AMABUS AMAZON CAPITAL SERVICES INC 738.71 1HP4-CYGK-NL1M WALL MOUNT RACK/CABLES 275-1125-54585 225.06 1PMF-MWDJ-79VN DUAL DOCKING STATION 550-6100-53018 354.13 1VQ1-Y7MC-3GQ9 FOOTREST 100-1130-53011 55.55
1WKG-34HD-KQR6 GENERAL SUPPLIES 100-1150-53011 103.97
11596 1/12/2024 AMERI AMERINAT 507.43
LPM-23-002826 11/23 LOAN MONITORING 100-3320-53111 507.43 11597 1/12/2024 ATT AT&T 499.76
000021027391 11/28-12/27 PHONE-SR CENTER 911 LN 100-4130-53715 83.10 000021027392 11/28-12/27 PHONE-MTCE YARD ALARM 285-3330-53715 27.70 000021027393 11/28-12/27 PHONE-CH FAX LN 100-1150-53715 112.76 000021027394 11/28-12/27 PHONE-CITY HALL LN 100-1150-53715 276.20 11598 1/12/2024 B2PRIN B2 PRINT 48.50
0012524 BUSS CARDS-TELLEZ 100-3300-53976 48.50
11599 1/12/2024 BLAWAT BLACKWATER SECURITY 33,606.66
1902-1351 12/23 PARK SECURITY SVC 100-2110-53111 17,223.33 1902-1399 01/24 PARK SECURITY SVC 100-2110-53111 16,383.33 Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 5 of 13
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
11600 1/12/2024 INDBRA BRADY INDUSTRIES, LLC 6,213.47
8386484 LP PARK JANITORIAL SUPPLIES 100-3330-53011 1,418.10 8386486 COMM CTR JANITORIAL SUPPLIES 100-4100-53011 719.14 8424629 LP PARK JANITORIAL SUPPLIES 100-3330-53011 736.71 8450956 LP PARK JANITORIAL SUPPLIES 100-3330-53011 223.76 8454266 LP PARK JANITORIAL SUPPLIES 100-3100-53011 88.96 8454267 CH JANITORIAL SUPPLIES 100-1150-53011 462.73
8454268 YLAC JANITORIAL SUPPLIES 100-4100-53011 508.49
8464071 LP PARK JANITORIAL SUPPLIES 100-3330-53011 554.58 8499819 LP PARK JANITORIAL SUPPLIES 100-3330-53011 1,061.45 8499829 SR CENTER JANITORIAL SUPPLIES 100-4130-53012 439.55 11601 1/12/2024 CABUST CALIFORNIA BUILDING STANDARDS 219.60 INV0010166 10-12/23 BLDG REV FUND 100-48900 -24.40
INV0010166 10-12/23 BLDG REV FUND 600-47441 244.00
11602 1/12/2024 CBE4AM CBE OFFICE SOLUTIONS 839.71
IN2690244 11/20-12/19 FACILITY COPIER 100-1150-53911 839.71 11603 1/12/2024 CBEEQU CELL BUSINESS EQUIPMENT 1,162.59 5028065673 01/12-02/11 FACILITY COPIER 100-1150-53911 1,162.59 11604 1/12/2024 TIMEWA CHARTER COMMUNICATIONS 105.28
0029105121423 12/14-01/13 SC CABLE/INTERNET 100-4130-53715 105.28 11605 1/12/2024 CINTA CINTAS CORPORATION #693 413.06
4179103839 01/04 SR CENTER MAT RENTAL 100-4130-53012 413.06 11606 1/12/2024 CONCEN CONCENTRA 247.00
81739111 PRE EMPLOYMENT PHYSICALS 100-1135-53406 247.00 11607 1/12/2024 CED CONSOLIDATED ELECTRICAL DISTRIBUTORS, INC 73.74 3301-1015017 LP PARK ELECTRICAL SUPPLIES 285-3330-53822 73.74 11608 1/12/2024 CORLOG CORELOGIC SOLUTIONS, LLC 352.50
30693770 11/23 PROPERTY DATA SVC 100-3320-53111 198.00
30698271 12/23 PROPERTY DATA SVC 100-3320-53111 154.50
11609 1/12/2024 DEPTC DEPT OF CONSERVATION 846.51
INV0010167 10-12/23 SMIP FEES 100-48900 -44.55
INV0010167 10-12/23 SMIP FEES 600-47440 891.06
11610 1/12/2024 EDISON EDISON CO 39,048.12
INV0010176 10/30-11/29 ELEC-VARIOUS 200-3120-53713 330.65 INV0010177 10/30-11/29 ELEC-PARK SVC 285-3330-53712 392.56 INV0010178 10/30-11/29 ELEC-TRAFFIC CONTROL 200-3120-53713 1,434.24 INV0010179 11/27-12/26 ELEC-15612 TEMPLE 285-3330-53712 8,115.21 INV0010180 11/27-12/26 ELEC-15614 TEMPLE 285-3330-53712 2,119.88 INV0010181 12/01-31 ELEC-VARIOUS 200-3120-53713 7,904.31 INV0010182 11/06-12/05 ELEC-VARIOUS 200-3120-53713 480.54 INV0010183 12/01-31 ELEC-ST LIGHTS LS-2B 285-3330-53712 2,104.03 INV0010184 12/01-31 ELEC-1744 ST LIGHTS LS-1/OPTION E 285-3330-53712 12,917.30 INV0010185 12/01-01/02 ELEC-15250 TEMPLE 200-3120-53713 39.94 INV0010186 12/01-01/02 ELEC-14951 NELSON 200-3120-53713 132.24 INV0010187 11/27-12/26 ELEC-14416 AMAR 200-3120-53713 64.42 INV0010188 11/03-12/19 ELEC-13798 TEMPLE 200-3120-53713 80.30 INV0010189 11/27-12/26 ELEC- YLAC 100-4110-53712 2,053.15 INV0010193 10/30-11/29 ELEC-SR CENTER 100-4130-53712 879.35 11611 1/12/2024 ESP EVENT SOUND PROFESSIONALS 1,760.00
INV0010172 8 LED CAN LIGHTS-PARK AMPHITHEATER 100-5596-59300 1,760.00 Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 6 of 13
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
11612 1/12/2024 EWIIRR EWING IRRIGATION PRODUCTS INC. 1,798.06 17337818 LP PARK-SOD 285-3330-53814 496.97
17352204 BERMUDA SOD 285-3330-53814 792.97
17352220 RYE BLEND SEED 285-3330-53814 508.12
11613 1/12/2024 EXPERI EXPERIAN 27.00
CD2409003023 12/23 CREDIT REPORT SVC 100-3320-53111 27.00 11614 1/12/2024 FLOSAF FLOCK SAFETY 700.00
INV-29749 CAMERA REPLACEMENT 100-2100-53111 700.00
11615 1/12/2024 FRANKL FRANKLIN AIR CONDITIONING & 1,839.58 53168 CH A/C MTCE 100-1150-53811 400.00
53169 SR CTR A/C MTCE 100-4130-53811 270.00
53170 COMM CTR-A/C MTCE 100-4100-53811 1,169.58
11616 1/12/2024 GARDA GARDAWORLD 407.67
10766303 01/24 ARMORED TRANS SVC 100-1130-53111 407.67
11617 1/12/2024 GOODW GOODWILL OF SOUTHERN CALIFORNIA 65,961.23 GSC-0011 11/23 PAYROLL 280-3300-53111 65,961.23
11618 1/12/2024 GT1COL GT1 COLLISION REPAIR INC 5,284.23 3695 VEH-F-150 REPAIR 555-3150-53812 5,284.23
11619 1/12/2024 HHS CO H H S CONSTRUCTION 30.00
INV0010170 REFUND-BL #20992 OVERPAYMENT 100-48900 30.00 11620 1/12/2024 HACOUT HACIENDA OUTLET 140.76
24303 MTCE-UNIFORM 100-3330-53015 140.76
11621 1/12/2024 HDLASS HINDERLITER DE LLAMAS & ASSOCIATES 1,786.45 SIN034197 10-12/23 AUDIT/SALES TAX 100-1130-53111 1,486.45 SIN034369 10-12/23 TRANSACTION TAX 100-1130-53111 300.00 11622 1/12/2024 JCLBAR JCL TRAFFIC 330.75
122399 CORRUGATED PLASTIC SIGN 285-3330-53822 330.75
11623 1/12/2024 JOMART JOSEPH MARTINEZ 500.00
INV0010190 CACEO TRAINING REIM-MARTINEZ 100-2130-53151 500.00 11624 1/12/2024 KSKFAC KSK FACILITIES 1,130.00
1918 12/23 SR CENTER JANITORIAL SVC 100-4130-53813 1,130.00 11625 1/12/2024 LANARC LAND-MARC LANDSCAPE ARCHITECTS 16,193.84 230106-001 11/27-12/31 DESIGN SVC-VETERANS PARK 285-3330-53111 16,193.84 11626 1/12/2024 MANCIL MANCILLA'S QUALITY PRINTING LLC 481.80 15874 DOOR HANGERS 285-3330-53111 481.80
11627 1/12/2024 MARSAN MARK SANTOS 250.00
INV0010191 REFUND-SECURITY DEPOSIT SANTOS 600-20230 250.00 11628 1/12/2024 MCHEAT MC HEATING AND AIR 1,090.00
JD20004585-R RETENTION PYMT-SANDOVAL 260-20220 1,090.00 11629 1/12/2024 PIPETE PIPE TEC, INC. 3,825.00
11874 SEWER OVERLFOW CLEAN UP-NORTHGATE MARKET 500-3210-53111 3,825.00 11630 1/12/2024 MOTRAM RAMIRO ZEPEDA MOTO 37.00
INV0010171 LIVESCAN REIM-MOTA 100-1135-53406 37.00
11631 1/12/2024 FUERA RAUL DE LA FUENTE 85.00
INV0010192 REFUND-SHELTER RENTAL FEE 100-47260 85.00
Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 7 of 13
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
11632 1/12/2024 LOPREA REANNA LOPEZ 3,588.00
INV0010169 EDUCATION REIM-LOPEZ 100-1135-53151 3,588.00 11633 1/12/2024 STAPLE STAPLES CREDIT PLAN 533.56
3545957675 OFFICE SUPPLIES 100-1150-53011 273.20
3555756080 OFFICE SUPPLIES 100-1150-53011 260.36
11634 1/12/2024 SUNBELT SUNBELT RENTALS, INC. 7,756.34
147832873-1 WATER TRUCK RENTAL 100-3100-53111 912.80
148172404-1 TELEHANDLER FORKLIFT 100-3330-53822 2,483.22 148319322-1 TOWABLE ART MANLIFT 100-3330-53822 398.16
148319694-1 SCISSOR LIFT RENTAL 100-3330-53822 2,497.79 148464183-1 SOD CUTTER 100-3330-53822 823.87
148464183-2 AERATOR 100-3330-53822 640.50
11635 1/12/2024 SUPALA SUPERIOR ALARM SYSTEMS 4,320.00
240036 CITY ALARM MONITORING SVC 100-1150-53813 540.00
240036 SR CENTER ALARM MONITORING SVC 100-4130-53813 900.00 240036 SR CENTER ALARM MONITORING SVC 100-4130-53813 540.00 240036 MTCE ALARM MONITORING SVC 285-3330-53813 900.00
240036 YLAC ALARM MONITORING SVC 285-3330-53813 540.00
240036 COMM CTR ALARM MONITORING SVC 285-3330-53813 900.00 11636 1/12/2024 SYSENE SYSERCO ENERGY SOLUTIONS, INC 184,780.54 21382 ENERGY EFF RETENTION PYMT 400-20220 184,780.54
11637 1/12/2024 TCFNAT THE HUNTINGTON NATIONAL BANK 1,512.00 8674785 TORO REEL MASTER SVC 285-3330-53911 1,512.00
11638 1/12/2024 TMOBILE T-MOBILE 306.67
INV0010164 11/21-12/20 PHONE-PUBLIC SAFETY 100-2100-53715 306.67 11639 1/12/2024 TMOBILE T-MOBILE 1,083.40
INV0010165 11/21-12/20 PHONE-MTCE WIRELESS 100-3100-53715 1,083.40 11640 1/12/2024 TMOBILE T-MOBILE 226.94
INV0010163 11/21-12/20 PHONE-CE WIRELESS 100-2110-53715 226.94 11641 1/12/2024 TOWENT TOWO ENTERPRISE INC 238,032.36
4 09-12/23 HSIP CYCLE 8 RETENTION 203-20220 -2,242.52
4 09-12/23 HSIP CYCLE 8 PYMT #4 203-5586-59300 44,850.31 4 09-12/23 HSIP CYCLE 8 RETENTION 230-20220 -10,285.52
4 09-12/23 HSIP CYCLE 8 PYMT #4 230-5586-59300 205,710.09 11642 1/12/2024 TUST TURF STAR, INC. 16,121.61
3323427-00 WORKMAN GTX UTILITY VEHICLE 555-3150-54484 16,121.61 11643 1/12/2024 ULINE ULINE 1,462.72
169734668 VINYL SLED BASE CHAIR 100-1130-53011 422.87
172000772 STEEL SHELVING 100-3330-53012 1,039.85
11644 1/12/2024 UNISUP UNISON SUPPLY 671.51
1645 HEDGE TRIMMER 100-3100-53012 671.51
11645 1/12/2024 FERWHI WHITTIER FERTILIZER CO 617.95
406353 WASHED SAND 285-3330-53822 292.71
406393 SOIL 285-3330-53822 325.24
11646 1/12/2024 WILENG WILLDAN ENGINEERING 24,573.00
003-38329 10/23 ST IMPROVEMENT- HSIP CYCLE 8 203-5586-59300 24,033.00 00625827 06/23 LANDSCAPE PLAN CHECK 100-3110-53111 540.00 11647 1/12/2024 WILFIN WILLDAN FINANCIAL SERVICES 1,515.00 010-56840 11/23 COST ALLOCATION/USER FEE STUDY 100-1130-53111 1,515.00 Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 8 of 13
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
11648 1/12/2024 SCEDIS SOUTHERN CALIFORNIA EDISON 3,705.12 7590529068 NEW METER-HAWK SIGNAL 203-5613-59300 3,705.12 DFT0002339 1/5/2024 AFLAC AFLAC 47.34
INV0010127 EMPLOYEE LIFE ASSURANCE 100-20399 45.20
INV0010127 EMPLOYEE LIFE ASSURANCE 260-20399 2.14
DFT0002340 1/5/2024 AFLAC AFLAC 136.43
INV0010128 EMPLOYEE INSURANCE 100-20399 122.41
INV0010128 EMPLOYEE INSURANCE 260-20399 14.02
DFT0002341 1/5/2024 ICMARC MISSION SQUARE RETIREMENT 30.16 INV0010132 EMPLOYEE LOAN REPYMT 100-20399 21.30
INV0010132 EMPLOYEE LOAN REPYMT 200-20399 3.07
INV0010132 EMPLOYEE LOAN REPYMT 203-20399 0.68
INV0010132 EMPLOYEE LOAN REPYMT 205-20399 0.68
INV0010132 EMPLOYEE LOAN REPYMT 210-20399 2.39
INV0010132 EMPLOYEE LOAN REPYMT 215-20399 0.68
INV0010132 EMPLOYEE LOAN REPYMT 260-20399 1.36
DFT0002342 1/5/2024 ICMARC MISSION SQUARE RETIREMENT 2,300.00 INV0010133 EMPLOYEE CONTRIBUTIONS 100-20399 1,409.56
INV0010133 EMPLOYEE CONTRIBUTIONS 200-20399 190.94
INV0010133 EMPLOYEE CONTRIBUTIONS 203-20399 76.97
INV0010133 EMPLOYEE CONTRIBUTIONS 205-20399 155.92
INV0010133 EMPLOYEE CONTRIBUTIONS 210-20399 157.52
INV0010133 EMPLOYEE CONTRIBUTIONS 215-20399 276.78
INV0010133 EMPLOYEE CONTRIBUTIONS 260-20399 32.31
DFT0002343 1/5/2024 CPERS-HEALTH CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 70,967.37 INV0010135 HEALTH INSURANCE 100-20399 61,927.54
INV0010135 HEALTH INSURANCE 200-20399 2,450.06
INV0010135 HEALTH INSURANCE 203-20399 847.96
INV0010135 HEALTH INSURANCE 205-20399 1,034.61
INV0010135 HEALTH INSURANCE 210-20399 868.74
INV0010135 HEALTH INSURANCE 215-20399 636.44
INV0010135 HEALTH INSURANCE 260-20399 2,135.91
INV0010135 HEALTH INSURANCE 283-20399 341.03
INV0010135 HEALTH INSURANCE 285-20399 725.08
DFT0002344 1/5/2024 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 16,228.76 INV0010137 EMPLOYER CONTRIBUTION 100-20360 14,320.07
INV0010137 EMPLOYER CONTRIBUTION 200-20360 523.16
INV0010137 EMPLOYER CONTRIBUTION 203-20360 162.59
INV0010137 EMPLOYER CONTRIBUTION 205-20360 173.85
INV0010137 EMPLOYER CONTRIBUTION 210-20360 162.76
INV0010137 EMPLOYER CONTRIBUTION 215-20360 33.29
INV0010137 EMPLOYER CONTRIBUTION 260-20360 433.80
INV0010137 EMPLOYER CONTRIBUTION 283-20360 60.39
INV0010137 EMPLOYER CONTRIBUTION 285-20360 358.85
DFT0002345 1/5/2024 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 11,853.99 INV0010138 PERS- NEW EMPLY CONTRB 100-20399 10,402.40
INV0010138 PERS- NEW EMPLY CONTRB 200-20399 344.18
INV0010138 PERS- NEW EMPLY CONTRB 203-20399 119.13
INV0010138 PERS- NEW EMPLY CONTRB 205-20399 124.93
INV0010138 PERS- NEW EMPLY CONTRB 210-20399 110.45
INV0010138 PERS- NEW EMPLY CONTRB 215-20399 26.96
INV0010138 PERS- NEW EMPLY CONTRB 260-20399 339.10
INV0010138 PERS- NEW EMPLY CONTRB 283-20399 58.75
INV0010138 PERS- NEW EMPLY CONTRB 285-20399 328.09
Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 9 of 13
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
DFT0002346 1/5/2024 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 26.80 INV0010139 EMPLOYEE PORTION 100-20360 26.80
DFT0002347 1/5/2024 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 55.00 INV0010142 SURVIVORS LIFE INSURANCE 100-20350 48.42
INV0010142 SURVIVORS LIFE INSURANCE 200-20350 1.34
INV0010142 SURVIVORS LIFE INSURANCE 203-20350 0.43
INV0010142 SURVIVORS LIFE INSURANCE 205-20350 0.49
INV0010142 SURVIVORS LIFE INSURANCE 210-20350 0.51
INV0010142 SURVIVORS LIFE INSURANCE 215-20350 0.30
INV0010142 SURVIVORS LIFE INSURANCE 260-20350 1.09
INV0010142 SURVIVORS LIFE INSURANCE 283-20350 0.24
INV0010142 SURVIVORS LIFE INSURANCE 285-20350 2.18
DFT0002348 1/5/2024 EMPLOY EMPLOYMENT DEVELOPMENT DEPT 7,617.95 INV0010145 STATE INCOME TAX 100-20310 6,749.69
INV0010145 STATE INCOME TAX 200-20310 188.34
INV0010145 STATE INCOME TAX 203-20310 95.82
INV0010145 STATE INCOME TAX 205-20310 106.49
INV0010145 STATE INCOME TAX 210-20310 117.67
INV0010145 STATE INCOME TAX 215-20310 114.89
INV0010145 STATE INCOME TAX 260-20310 136.60
INV0010145 STATE INCOME TAX 283-20310 22.84
INV0010145 STATE INCOME TAX 285-20310 85.61
DFT0002349 1/5/2024 IRSPR IRS PAYROLL TAX DEPOSIT 21,204.66 INV0010146 FEDERAL WITHHOLDING 100-20300 18,751.79
INV0010146 FEDERAL WITHHOLDING 200-20300 489.43
INV0010146 FEDERAL WITHHOLDING 203-20300 281.37
INV0010146 FEDERAL WITHHOLDING 205-20300 302.18
INV0010146 FEDERAL WITHHOLDING 210-20300 325.04
INV0010146 FEDERAL WITHHOLDING 215-20300 294.99
INV0010146 FEDERAL WITHHOLDING 260-20300 426.23
INV0010146 FEDERAL WITHHOLDING 283-20300 60.00
INV0010146 FEDERAL WITHHOLDING 285-20300 273.63
DFT0002350 1/5/2024 IRSPR IRS PAYROLL TAX DEPOSIT 7,620.48 INV0010147 MEDICARE TAX 100-20300 6,716.60
INV0010147 MEDICARE TAX 200-20300 165.30
INV0010147 MEDICARE TAX 203-20300 131.74
INV0010147 MEDICARE TAX 205-20300 134.80
INV0010147 MEDICARE TAX 210-20300 80.28
INV0010147 MEDICARE TAX 215-20300 70.52
INV0010147 MEDICARE TAX 260-20300 150.50
INV0010147 MEDICARE TAX 283-20300 22.76
INV0010147 MEDICARE TAX 285-20300 147.98
DFT0002351 1/5/2024 CPERS-HEALTH CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 18,817.13 INV0010148 01/24 RETIREES HEALTH INSURANCE 100-1135-51314 18,530.73 INV0010148 01/24 CalpErs Admin Fees 100-1135-51314 286.40 DFT0002353 1/12/2024 CAPERS CALPERS 20,878.20
17393971 2024 RBF CONTRIBUTION 100-1135-51211 20,878.20 Grand Total: 1,089,977.92
Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 10 of 13
Report Summary
Fund Summary
Fund Payment Amount
100 - GENERAL FUND 286,988.41
200 - GAS TAX FUND 40,228.06
203 - MEASURE M FUND 72,287.39
205 - MEASURE R FUND 2,232.62
210 - PROP A FUND 1,882.48
215 - PROP C FUND 1,502.38
230 - HSIP GRANT FUND 195,424.57
260 - CDBG PROGRAM FUND 4,973.50
263 - AMERICAN RESCUE PLAN ACT FUND 188.60
275 - PEG ACCESS FUND 310.86
280 - MISCELLANEOUS GRANTS FUND 123,722.76
283 - MEASURE A SAFE PARKS FUND 582.30
285 - LIGHTING & LANDSCAPE MAINTENANCE 74,739.85
400 - CAPITAL PROJECTS FUND 184,780.54
500 - SEWER CONSTRUCTION/MAINTENANCE FUND 29,912.00
550 - EQUIPMENT REPLACEMENT FUND 24,355.92
555 - VEHICLE MAINTENANCE & REPLACEMENT FUND 44,407.09
600 - SPECIAL DEPOSIT FUND 1,458.59
Grand Total: 1,089,977.92
Account Summary
Account Number Account Name Payment Amount
100-1100-53976 Special Departmental 420.45
100-1110-53972 Conferences & Meetings 96.59
100-1120-53011 Operating Supplies -77.88
100-1130-53011 Operating Supplies 478.42
100-1130-53111 Contract Services - Priva… 4,284.12
100-1130-53972 Conferences & Meetings 615.00
100-1135-51211 Retirement 20,878.20
100-1135-51314 Health Insurance 18,817.13
100-1135-53151 Education & Training 7,176.00
100-1135-53406 Recruitment Expenses 300.95
100-1150-53011 Operating Supplies 1,100.26
100-1150-53715 Utility - Communications 2,351.72
100-1150-53811 Equipment Maintenance 1,653.62
100-1150-53813 Facility Maintenance 729.00
100-1150-53911 Equipment Lease/Rental 2,002.30
100-20220 Retention Payable 5,458.22
100-20300 FIT Payable 25,468.39
100-20310 SIT Payable 6,749.69
100-20320 Life Ins Payable 702.39
100-20330 LTD Payable 2,515.43
100-20340 PARS 5,207.98
100-20350 Group Insurance 48.42
100-20360 PERS 14,346.87
100-20399 Other Payroll Deductions 74,648.73
100-2100-53111 Contract Services - Priva… 700.00
100-2100-53715 Utility - Communications 306.67
100-2110-53111 Contract Services - Priva… 33,606.66
100-2110-53411 Printing & Publishing 164.00
100-2110-53715 Utility - Communications 226.94
100-2130-53011 Operating Supplies 38.50
100-2130-53012 Small Tools & Equipment 246.37
100-2130-53151 Education & Training 500.00
100-3100-53011 Operating Supplies 88.96
100-3100-53012 Small Tools & Equipment 671.51
100-3100-53111 Contract Services - Priva… 912.80
Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 11 of 13
Account Summary
Account Number Account Name Payment Amount
100-3100-53715 Utility - Communications 1,083.40
100-3110-53111 Contract Services - Priva… 540.00
100-3300-53972 Conferences & Meetings 2,405.92
100-3300-53976 Special Departmental 148.50
100-3310-53011 Operating Supplies 38.50
100-3320-53111 Contract Services - Priva… 886.93
100-3330-53011 Operating Supplies 3,994.60
100-3330-53012 Small Tools & Equipment 3,382.63
100-3330-53015 Uniform/Boot Reimburs… 330.07
100-3330-53813 Facility Maintenance 450.00
100-3330-53822 Park Maintenance & Re… 6,843.54
100-4100-53011 Operating Supplies 1,333.72
100-4100-53811 Equipment Maintenance 1,169.58
100-4110-53712 Utility - Electricity 2,053.15
100-4110-53980 Sports Activities 28.98
100-4130-53011 Operating Supplies 56.13
100-4130-53012 Small Tools & Equipment 852.61
100-4130-53712 Utility - Electricity 879.35
100-4130-53715 Utility - Communications 188.38
100-4130-53811 Equipment Maintenance 270.00
100-4130-53813 Facility Maintenance 2,570.00
100-4130-53814 Landscape Maintenance 253.50
100-4140-53416 Social Media Technology 16,000.00
100-4140-53976 Special Departmental 275.50
100-4140-53979 Special Events 3,682.36
100-4140-53992 Scholarships 218.82
100-4140-53993 Youth Activities Program 28.98
100-42160 SB 1186 (CASP Fee) 108.00
100-47260 Recreation Programs 85.00
100-48900 Miscellaneous 210.85
100-5596-59300 Construction Costs 3,185.00
200-20300 FIT Payable 654.73
200-20310 SIT Payable 188.34
200-20320 Life Ins Payable 20.96
200-20330 LTD Payable 95.15
200-20340 PARS 2.31
200-20350 Group Insurance 1.34
200-20360 PERS 523.16
200-20399 Other Payroll Deductions 2,988.25
200-3120-53713 Utility - Hwy Lights 10,466.64
200-3120-53814 Landscape Maintenance 6,531.68
200-3120-53817 Street/Sidewalk Mainte… 16,839.47
200-3120-53819 Signal Maintenance 1,849.16
200-3120-53821 Traffic Markings/Signs 66.87
203-20220 Retention Payable -2,242.52
203-20300 FIT Payable 413.11
203-20310 SIT Payable 95.82
203-20320 Life Ins Payable 6.52
203-20330 LTD Payable 35.72
203-20340 PARS 182.55
203-20350 Group Insurance 0.43
203-20360 PERS 162.59
203-20399 Other Payroll Deductions 1,044.74
203-5586-59300 CONSTRUCTION COSTS 68,883.31
203-5613-59300 Construction Costs 3,705.12
205-20300 FIT Payable 436.98
205-20310 SIT Payable 106.49
205-20320 Life Ins Payable 7.73
Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 12 of 13
Account Summary
Account Number Account Name Payment Amount
205-20330 LTD Payable 45.72
205-20340 PARS 145.22
205-20350 Group Insurance 0.49
205-20360 PERS 173.85
205-20399 Other Payroll Deductions 1,316.14
210-20300 FIT Payable 405.32
210-20310 SIT Payable 117.67
210-20320 Life Ins Payable 8.60
210-20330 LTD Payable 46.21
210-20340 PARS 2.31
210-20350 Group Insurance 0.51
210-20360 PERS 162.76
210-20399 Other Payroll Deductions 1,139.10
215-20300 FIT Payable 365.51
215-20310 SIT Payable 114.89
215-20320 Life Ins Payable 4.66
215-20330 LTD Payable 40.56
215-20340 PARS 2.31
215-20350 Group Insurance 0.30
215-20360 PERS 33.29
215-20399 Other Payroll Deductions 940.86
230-20220 Retention Payable -10,285.52
230-5586-59300 Construction Costs 205,710.09
260-20220 Retention Payable 1,090.00
260-20300 FIT Payable 576.73
260-20310 SIT Payable 136.60
260-20320 Life Ins Payable 16.55
260-20330 LTD Payable 69.95
260-20340 PARS 70.59
260-20350 Group Insurance 1.09
260-20360 PERS 433.80
260-20399 Other Payroll Deductions 2,524.84
260-3320-53977 Grants & Loans - Residen… 53.35
263-3320-53015 Uniform/Boot Reimburs… 188.60
275-1125-54585 Furniture/Office Equipm… 310.86
280-3300-53111 Contract Services - Priva… 123,722.76
283-20300 FIT Payable 82.76
283-20310 SIT Payable 22.84
283-20320 Life Ins Payable 3.59
283-20330 LTD Payable 12.70
283-20350 Group Insurance 0.24
283-20360 PERS 60.39
283-20399 Other Payroll Deductions 399.78
285-20300 FIT Payable 421.61
285-20310 SIT Payable 85.61
285-20320 Life Ins Payable 7.00
285-20330 LTD Payable 24.33
285-20340 PARS 71.95
285-20350 Group Insurance 2.18
285-20360 PERS 358.85
285-20399 Other Payroll Deductions 1,053.17
285-3330-53111 Contract Services - Priva… 33,038.64
285-3330-53712 Utility - Electricity 25,648.98
285-3330-53715 Utility - Communications 27.70
285-3330-53813 Facility Maintenance 2,387.00
285-3330-53814 Landscape Maintenance 6,514.63
285-3330-53822 Park Maintenance & Re… 3,586.20
285-3330-53911 Equipment Lease/Rental 1,512.00
Check Register Report Payment Dates: 1/4/2024 - 1/12/2024 1/16/2024 5:34:41 PM Page 13 of 13
Account Summary
Account Number Account Name Payment Amount
400-20220 Retention Payable 184,780.54
500-3210-53111 Contract Services - Priva… 29,912.00
550-6100-53017 Software & Licensing 20,107.97
550-6100-53018 Computer Hardware & S… 4,247.95
555-3150-53014 Fuel 1,993.53
555-3150-53812 Vehicle Maintenance 11,305.58
555-3150-53912 Vehicle Lease 14,986.37
555-3150-54484 Vehicle Purchase 16,121.61
600-20230 Refundable Special Depo… 250.00
600-20250 Deposit - Teen Voice Pro… 73.53
600-47440 Strong Motion Inst. Fee 891.06
600-47441 SB1473 (Green Fee) 244.00
Grand Total: 1,089,977.92
Project Account Summary
Project Account Key Payment Amount
**None** 965,951.18
30124E 1,143.35
30224E 859.93
61424E 1,773.17
68424E 73.53
70724E 8,279.00
98524E 111,897.76
Grand Total: 1,089,977.92
AGENDA ITEM NO. D-2
To: Mayor and City Council For meeting of: January 23, 2024 Via: Bob Lindsey, City Manager
By: Troy O. Grunklee, CPA, Director of Administrative Services Alex Merkel Medina, Finance Manager
SUBJECT: PRESENTATION OF OCTOBER, NOVEMBER & DECEMBER 2023

REQUISITION SUMMARY REPORTS

BACKGROUND
On April 24, 2018, the City Council adopted several ordinances and accompanying resolutions amending the City’s purchasing procedures to streamline and make the procurement process more efficient. One of the amendments to the purchasing procedures was a provision setting a $5,000 spending limit for Department Heads and a separate provision increasing the City Manager’s spending limit to $20,000 for professional services, supplies and equipment. In order to document purchases approved by the City Manager and/or Department Heads the City Council directed that a monthly report be prepared and filed with the City Council. This action is to receive and file the requisition summary report covering the three-month period of October, November, and December 2023.

DISCUSSION
City staff initiated forty (40) requisitions during the period totaling $417,922.68.

RECOMMENDATION
It is recommended that the City Council receive and file this report.

ATTACHMENTS
Attachment “A”: Requisition Summary Report for October-December 2023 City of La Puente

AGENDA REPORT
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 555-3150-54484 Vehicle Purchase 100.00% 16,121.61
1/8/2024 9:37:22 PM Page 1 of 9
TUST - TURF STAR, INC. City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid WORKMAN GTX UTILITY VEHICLE 1 0 0 0 0 0 -
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 550-6100-53018 Computer Hardware & Supplies 100.00% 3,241.57 REQ000869 WORKMAN GTX UTILITY VEHICLE Approved ELIZABETH HERRERA 10/13/2023 0 16,121.61 SUPALA - SUPERIOR ALARM SYSTEMS Director of Admin. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid DOCKING STATION-BODY WORN CAMERAS 1 0 0 0 0 0 3,241.57
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 263-3320-53111 Contract Services - Private 100.00% 2,100.00 REQ000868 DOCKING STATION-BODY WORN CAMERAS Approved Alexander Merkel 10/13/2023 0 3,241.57 CHRPER - CHRISTOPHER PEREZ ARIAS Director of Comm. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Fitness Classes 1 0 0 0 0 0 2,100.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-5596-59300 Construction Costs 100.00% 16,500.00
REQ000867 Fitness Classes Approved ADRIANA DOMINGUEZ 10/9/2023 0 2,100.00 MARK - MARK'S WELDING SERVICE City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid PARK AMPHITHEATER AUDIOVISUAL STRUCTURE 1 0 0 0 0 0 16,500.00 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 555-3150-54484 Vehicle Purchase 100.00% 41,800.00
REQ000866 PARK AMPHITHEATER AUDIOVISUAL STRUCTUREApproved Alexander Merkel 10/3/2023 0 16,500.00 UNREN - UNITED RENTALS City Council
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid GENERATOR-MAGNUM PRO MMG75DF4 1 0 0 0 0 0 41,800.00
Requisition Summary Report
City of La Puente Requisition Detail
Issued Date Range 10/01/2023 - 12/31/2023
Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Dist Amount REQ000865 GENERATOR-MAGNUM PRO MMG75DF4 Approved Alexander Merkel 10/3/2023 0 41,800.00

ATTACHMENT A
1/8/2024 9:37:22 PM Page 2 of 9
Fitness Classes - Instructor Payment 1 0 0 0 0 0 1,050.00 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 263-3320-53111 Contract Services - Private 100.00% 1,050.00 REQ000874 Fitness Classes - Instructor Payment Approved ADRIANA DOMINGUEZ 10/23/2023 0 1,050.00 CHRPER - CHRISTOPHER PEREZ ARIAS Director of Comm. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid DJ SERVICE-DIA DE LOS MUERTOS1 0 0 0 0 0 1,500.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 100.00% 1,500.00
REQ000873 DJ SERVICE-DIA DE LOS MUERTOS Approved Alexander Merkel 10/19/2023 0 1,500.00 INVTO - INVISIBLE TOUCH INC Director of Admin. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid AUDIOVISUAL-PARK AMPHITHEATER 1 0 0 0 0 0 58,628.90
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-5596-59300 Construction Costs 100.00% 58,628.90
REQ000872 AUDIOVISUAL-PARK AMPHITHEATER Approved Alexander Merkel 10/19/2023 0 58,628.90 ESP - EVENT SOUND PROFESSIONALS City Council
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid VIDEO STORAGE-SECURITY & BODYWORN CAMERAS 1 0 0 0 0 0 119,227.28 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 550-6100-53018 Computer Hardware & Supplies 100.00% 119,227.28 REQ000871 VIDEO STORAGE-SECURITY & BODYWORN CAMERAS Approved Alexander Merkel 10/19/2023 0 119,227.28 SUPALA - SUPERIOR ALARM SYSTEMS City Council
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid LIGHT TOWER PORTABLE MAGNUM PRO MLT6SM 1 0 0 0 0 0 6,050.00 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 555-3150-54484 Vehicle Purchase 100.00% 6,050.00
REQ000870 LIGHT TOWER PORTABLE MAGNUM PRO MLT6SMApproved Alexander Merkel 10/18/2023 0 6,050.00 UNREN - UNITED RENTALS City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Requisition Summary Report Issued Date Range 10/01/2023 - 12/31/2023 Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Dist Amount Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 100.00% 2,609.55
1/8/2024 9:37:22 PM Page 3 of 9
ITSGAS - IT'S A GAS, INC Director of Comm. Services
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Balloons for Dia De Los Muertos 1 0 0 0 0 0 2,609.55
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-5596-59300 Construction Costs 100.00% 5,425.00
REQ000879 Balloons for Dia De Los Muertos Approved ADRIANA DOMINGUEZ 10/27/2023 0 2,609.55 FECELE - F.E.C. ELECTRIC INC. City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid TEMLE AVE MEDIAN LIGHTS 1 0 0 0 0 0 -
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-5596-59300 Construction Costs 100.00% 7,373.00
REQ000878 TEMLE AVE MEDIAN LIGHTS Approved Alexander Merkel 10/26/2023 0 5,425.00 FECELE - F.E.C. ELECTRIC INC. City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid PARK STAGE ELECTRICAL WORK 50AMP BREAKER 1 0 0 0 0 0 -
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 61324E 100.00% 1,009.05
REQ000877 PARK STAGE ELECTRICAL WORK 50AMP BREAKERApproved Alexander Merkel 10/26/2023 0 7,373.00 ITSGAS - IT'S A GAS, INC Director of Comm. Services
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid BALLOON SERVICES FOR TRUNK-OR-TREAT 2023 1 0 0 0 0 0 1,009.05 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-5596-59300 Construction Costs 100.00% 7,543.00
REQ000876 BALLOON SERVICES FOR TRUNK-OR-TREAT 2023 Approved ANGEL MORALES 10/24/2023 0 1,009.05 NETAME - NETS OF AMERICA INC. City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid BASEBALL FIELD-FOUL BALL NETTING1 0 0 0 0 0 7,543.00
Requisition Summary Report Issued Date Range 10/01/2023 - 12/31/2023 Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Dist Amount REQ000875 BASEBALL FIELD-FOUL BALL NETTING Approved Alexander Merkel 10/24/2023 0 7,543.00 1/8/2024 9:37:22 PM Page 4 of 9
SR CENTER FENCE PAINTING 1 0 0 0 0 0 3,112.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4130-53813 Facility Maintenance 100.00% 4,150.00
REQ000884 SR CENTER FENCE PAINTING Approved GISELA RUBIO 11/1/2023 0 4,150.00 MODES - MODERN DESIGNS PAINTING & WALLCOVERING Director of Dev. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid SOUND AND STAGE SERVICES DDLM 23 1 0 0 0 0 0 9,900.40
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 71024E 100.00% 9,900.40
REQ000883 SOUND AND STAGE SERVICES DDLM 23 Approved ANGEL MORALES 10/31/2023 0 9,900.40 GROLAB - GROOVELABS, LLC City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid ENTERTAINMENT SERVICES FOR DIA DE LOS MUERTOS 23 1 0 0 0 0 0 1,800.00 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 71024E 100.00% 1,800.00
REQ000882 ENTERTAINMENT SERVICES FOR DIA DE LOS MUERTOS 23 Approved ANGEL MORALES 10/31/2023 0 1,800.00 JACAR - JACOB ARECHIGA - THE FLASHBAX Director of Comm. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid ENTERTAINMENT SERVICES FOR DIA DE LOS MUERTOS 23 1 0 0 0 0 0 1,100.00 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 71024E 100.00% 1,100.00
REQ000881 ENTERTAINMENT SERVICES FOR DIA DE LOS MUERTOS 23 Approved ANGEL MORALES 10/31/2023 0 1,100.00 CHICO - JOE ESPINOSA Director of Comm. Services
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Veteran's Day Dinner Food 1 0 0 0 0 0 1,605.13
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 61423E 100.00% 1,605.13
REQ000880 Veteran's Day Dinner Food Approved ADRIANA DOMINGUEZ 10/30/2023 0 1,605.13 AVOITA - AVOLIO'S ITALIAN RESTAURANT Director of Comm. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Requisition Summary Report Issued Date Range 10/01/2023 - 12/31/2023 Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Dist Amount Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 263-3320-53111 Contract Services - Private 100.00% 2,100.00 1/8/2024 9:37:22 PM Page 5 of 9
CHRPER - CHRISTOPHER PEREZ ARIAS Director of Comm. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Fitness Classes 1 0 0 0 0 0 2,100.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 263-3320-53111 Contract Services - Private 100.00% 2,100.00 REQ000889 Fitness Classes Approved ADRIANA DOMINGUEZ 11/20/2023 0 2,100.00 CHRPER - CHRISTOPHER PEREZ ARIAS Director of Comm. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Fitness classes 1 0 0 0 0 0 2,100.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 62023E 100.00% 2,610.00
REQ000888 Fitness classes Approved ADRIANA DOMINGUEZ 11/7/2023 0 2,100.00 THEFUN - THE FUN COMPANY Director of Comm. Services
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Inflatables - Tree lighting ceremony1 0 0 0 0 0 2,610.00 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-5596-59300 Construction Costs 100.00% 4,150.00
REQ000887 Inflatables - Tree lighting ceremony Approved ADRIANA DOMINGUEZ 11/7/2023 0 2,610.00 RASOL - SOLAR RAY, LLC Director of Admin. Services
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid BRIGHT CANOPY SOLAR LIGHTS 1 0 0 0 0 0 4,150.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4130-53813 Facility Maintenance 100.00% 4,150.00
REQ000886 BRIGHT CANOPY SOLAR LIGHTS Approved Alexander Merkel 11/6/2023 0 4,150.00 MODES - MODERN DESIGNS PAINTING & WALLCOVERING Director of Dev. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid WROUGHT IRON GATE REPAIR 1 0 0 0 0 0 -
Requisition Summary Report Issued Date Range 10/01/2023 - 12/31/2023 Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Dist Amount REQ000885 WROUGHT IRON GATE REPAIR Approved NORMA RAMIREZ 11/6/2023 0 4,150.00 1/8/2024 9:37:22 PM Page 6 of 9
STREET LIGHT REPAIR/SR CTR FLAG/COFFEE MENU STAND 3 0 0 0 0 0 2,700.00 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-5596-59300 Construction Costs 100.00% 2,700.00
VALLEY BL GATE/PARK STAGE ELEC BOX 2 0 0 0 0 0 8,500.00 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-5596-59300 Construction Costs 100.00% 8,500.00
PARK COFFEE SHOP STRUCTURE 1 0 0 0 0 0 7,500.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-5596-59300 Construction Costs 100.00% 7,500.00
REQ000893 METAL FABRICATION & INSTALLATION Approved Alexander Merkel 11/28/2023 0 18,700.00 MARK - MARK'S WELDING SERVICE City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Fitness Instructor Payment 1 0 0 0 0 0 1,050.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 263-3320-53111 Contract Services - Private 100.00% 1,050.00 REQ000892 Fitness Instructor Payment Approved ADRIANA DOMINGUEZ 11/27/2023 0 1,050.00 CHRPER - CHRISTOPHER PEREZ ARIAS Director of Comm. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid SOUND AND STAGE SERVICE FOR HOLIDAY PARADE 1 0 0 0 0 0 2,758.00 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 62024E 100.00% 6,000.00
REQ000891 SOUND AND STAGE SERVICE FOR HOLIDAY PARADEApproved ANGEL MORALES 11/27/2023 0 6,000.00 GROLAB - GROOVELABS, LLC City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Judo - October Classes Payment 1 0 0 0 0 0 2,240.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4100-53111 Contract Services - Private 100.00% 2,240.00 REQ000890 Judo - October Classes Payment Approved ADRIANA DOMINGUEZ 11/22/2023 0 2,240.00 GUEJC - GUERREROS ATHLETIC FOUNDATION Director of Comm. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Requisition Summary Report Issued Date Range 10/01/2023 - 12/31/2023 Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Dist Amount Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 285-3330-53111 Contract Services - Private 100.00% 2,100.00 1/8/2024 9:37:22 PM Page 7 of 9
CHRPER - CHRISTOPHER PEREZ ARIAS Director of Comm. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Fitness Instructor 1 0 0 0 0 0 2,100.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 550-6100-53017 Software & Licensing 100.00% 4,768.93
REQ000898 Fitness Instructor Approved ADRIANA DOMINGUEZ 12/13/2023 0 2,100.00 SUPALA - SUPERIOR ALARM SYSTEMS Director of Admin. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid GENETEC SECURITY SOFTWARE SUPPORT UPDATE 1 0 0 0 0 0 4,768.93 Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-1135-53976 Special Departmental 100.00% 2,795.00
REQ000897 GENETEC SECURITY SOFTWARE SUPPORT UPDATEApproved Alexander Merkel 12/7/2023 0 4,768.93 SOCBQQ - KENNETH LIGHTFOOT Director of Comm. Services
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Staff Holiday Lunch 1 0 0 0 0 0 2,795.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 285-3330-53822 Park Maintenance & Repair 100.00% 1,922.25 REQ000896 Staff Holiday Lunch Approved ADRIANA DOMINGUEZ 12/6/2023 0 2,795.00 GREOUT - GREENFIELDS OUTDOOR FITNESS Director of Dev. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid OUTDOOR FITNESS EQUIPMENT 1 1 1922.25 0 0 0 1,922.25
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 550-6100-53018 Computer Hardware & Supplies 100.00% 7,298.49 REQ000895 OUTDOOR FITNESS EQUIPMENT Approved NORMA RAMIREZ 12/6/2023 0 1,922.25 DSLR - DSLR PROS City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid DJI MAVIC 3 - AERIAL DRONE 1 0 0 663.5 0 0 7,298.49
Requisition Summary Report Issued Date Range 10/01/2023 - 12/31/2023 Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Dist Amount REQ000894 DJI MAVIC 3 - AERIAL DRONE Approved Alexander Merkel 12/5/2023 0 7,298.49 1/8/2024 9:37:22 PM Page 8 of 9
GENETEC SERVER-SECURITY SYSTEM1 0 0 0 0 0 6,808.20
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 550-6100-53018 Computer Hardware & Supplies 100.00% 6,808.20 REQ000903 GENETEC SERVER-SECURITY SYSTEM Approved MARISSA CARRILLO 12/20/2023 0 6,808.20 SUPALA - SUPERIOR ALARM SYSTEMS City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid WIRELESS TICKET PRINTERS (QTY 3) 1 0 0 0 0 0 1,155.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 550-6100-53018 Computer Hardware & Supplies 100.00% 1,155.00 REQ000902 WIRELESS TICKET PRINTERS (QTY 3) Approved Alexander Merkel 12/20/2023 0 1,155.00 BARALL - ALL BARCODE SYSTEMS Director of Admin. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid July 3rd event - Firework 1 0 0 0 0 0 18,000.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 100.00% 18,000.00
REQ000901 July 3rd event - Firework Approved ADRIANA DOMINGUEZ 12/19/2023 0 18,000.00 PYROSP - PYRO SPECTACULARS, INC. City Council
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Instructor Payment 1 0 0 0 0 0 1,988.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4100-53111 Contract Services - Private 100.00% 1,988.00 REQ000900 Instructor Payment Approved ADRIANA DOMINGUEZ 12/19/2023 0 1,988.00 GUEJC - GUERREROS ATHLETIC FOUNDATION Director of Comm. Services Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Instructor payment 1 0 0 0 0 0 4,764.00
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4100-53111 Contract Services - Private 100.00% 4,764.00 REQ000899 Instructor payment Approved ADRIANA DOMINGUEZ 12/19/2023 0 4,764.00 FLOESP - ESPERANZA FLORES Director of Comm. Services
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid Requisition Summary Report Issued Date Range 10/01/2023 - 12/31/2023 Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Dist Amount 1/8/2024 9:37:22 PM Page 9 of 9
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53415 Community Outreach 100.00% 14,488.32
Requisition Count: 40 Total: 417,922.68
GLOURB - GLOBAL URBAN STRATEGIES, INC City Manager
Items
Description Sequence Part Number Units Price Tax Shipping Discount Paid LP CALENDARS 2024 1 0 0 1638.37 0 0 14,488.32
Requisition Summary Report Issued Date Range 10/01/2023 - 12/31/2023 Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Dist Amount REQ000904 LP CALENDARS 2024 Approved ELIZABETH HERRERA 12/22/2023 0 14,488.32 AGENDA ITEM NO. D-3
To: Mayor and City Council For meeting of: January 23, 2024 From: Bob Lindsey, City Manager
By: Troy Grunklee, CPA, Director of Administrative Services Alex Merkel Medina, Finance Manager
SUBJECT: PRESENTATION OF OCTOBER, NOVEMBER & DECEMBER 2023 INVESTMENT

REPORTS

BACKGROUND
This report presents the City’s investment portfolio for the three-month period from October through December 2023. The attachment provides details of the City’s portfolio. It has been prepared to comply with regulations contained in California Government Code Section 53600 and the Statement of Investment Policy approved by the City Council on May 23, 2023.

The investment objectives of the City of La Puente are first, to provide safety of principal to ensure the preservation of capital in the overall portfolio, second, to provide sufficient liquidity to meet all operating requirements, and third, to earn a commensurate rate of return consistent with the constraints imposed by the safety and liquidity objectives.

The City follows the practice of pooling cash and investments for all funds under its direct control.

Interest earned on pooled cash and investments is allocated to the various funds based on the respective fund’s average quarterly cash balance. It is common for governments to pool the cash and investments of various funds to improve investment performance. By pooling funds, cities are able to benefit from economies of scale, diversification, liquidity and ease of administration.

DISCUSSION
The Investment Reports for October, November, and December 2023 have been provided as an attachment for your review. The following table summarizes investment activity for the period:

Transaction Asset Type Transaction
Date
Interest
Rate
Due Date Face Value
Sale Federal Government
Obligation-FFCB
11/30/2023 1.95% 06/13/2024 $250,000
Sale Federal Government
Obligation-FHLMC
11/30/2023 2.50% 10/08/2024 $250,000
City of La Puente

AGENDA REPORT
Oct.-Dec. 2023 Investment Reports
For Meeting of January 23, 2024

Transaction Asset Type Transaction
Date
Interest
Rate
Due Date Face Value
Sale Certificate of
Deposit (CD) –
Axos Bank
12/12/2023 1.650% 03/26/2025 $249,000
Sale Federal Government
Obligation-US
Treasury
12/12/2023 0.250% 06/30/2025 $250,000
Sale Federal Government
Obligation-US
Treasury
12/12/2023 0.375% 01/31/2026 $250,00

FISCAL IMPACT
Idle cash invested in certificates of deposit, government securities, and corporate bonds typically return higher yields than LAIF (Local Agency Investment Fund). This maximizes returns without assuming substantial additional risk.

SUMMARY
In summary, the City has conservatively placed its investment portfolio in LAIF, federal agency securities, corporate bonds, and certificates of deposit. The portfolio complies with the Statement of Investment Policy and the City has the ability to meet its expenditure requirements for the next six months.

RECOMMENDATION
It is recommended that the City Council receive and file this report.

ATTACHMENTS
Attachment A – Investment Report (Oct.)
Attachment B – Certificates of Deposit (Oct.)
Attachment C – Municipal Bonds (Oct.)
Attachment D – Charts (Oct.)
Attachment E – Investment Report (Nov.)
Attachment F – Certificates of Deposit (Nov.)
Attachment G – Municipal Bonds (Nov.)
Attachment H – Charts (Nov.)
Attachment I – Investment Report (Dec.)
Attachment J – Certificates of Deposit (Dec.)
Attachment K – Municipal Bonds (Dec.)
Attachment L – Charts (Dec.)

CITY OF LA PUENTE ATTACHMENT A
Cash and Investment Report
October 31, 2023
Source of
Purchase Maturity Interest Face Book Market Market
Investment Type Issuer Date Date Rate Value Value Value Valuation Local Agency Investment Fund State of California 3.670% $ 1,522,393 $ 1,522,393 $ 1,501,548 LAIF Government Obligations
U.S. Agency Security FFCB 06/07/19 06/13/24 1.950% 250,000 249,904 $244,655 Stifel U.S. Agency Security FFCB 06/10/20 06/10/25 0.680% 250,000 250,000 $232,120 Multi-Bank U.S. Agency Security FFCB 06/02/20 06/09/25 0.500% 250,000 250,000 $231,340 Stifel U.S. Agency Security FFCB 03/22/21 04/01/25 0.710% 250,000 250,000 $234,023 Stifel U.S. Agency Security FFCB 02/24/21 03/03/26 0.790% 250,000 250,000 $226,113 Stifel U.S. Agency Security FFCB 08/03/21 08/10/26 0.710% 250,000 250,000 $221,650 Stifel U.S. Agency Security FFCB 08/30/21 09/01/26 0.870% 500,000 499,800 $444,225 Stifel U.S. Agency Security FFCB 08/30/21 02/10/25 0.480% 250,000 249,750 $234,593 Stifel U.S. Agency Security FFCB 09/23/21 09/28/26 0.940% 250,000 249,500 $221,950 Stifel U.S. Agency Security FFCB 09/02/21 09/08/26 0.870% 250,000 250,000 $221,948 Stifel U.S. Agency Security FFCB 07/29/20 07/29/25 0.580% 250,000 250,000 $230,520 Stifel U.S. Agency Security FFCB 10/07/21 10/07/26 1.000% 250,000 249,625 $222,405 Stifel U.S. Agency Security FFCB 10/28/21 11/03/26 1.330% 250,000 250,000 $223,970 Stifel U.S. Agency Security FFCB 11/10/21 11/16/26 1.270% 250,000 250,000 $223,080 Stifel U.S. Agency Security FFCB 11/24/21 11/30/26 1.460% 500,000 500,000 $448,570 Stifel U.S. Agency Security FFCB 06/27/23 06/09/28 4.690% 250,000 249,869 $241,078 Stifel U.S. Agency Security FHLB 05/05/20 05/19/25 0.750% 250,000 250,000 $232,943 Stifel U.S. Agency Security FHLB 03/02/21 02/26/26 0.850% 250,000 250,000 $226,578 Stifel U.S. Agency Security FHLB 03/08/21 03/30/26 0.980% 250,000 250,000 $226,518 Stifel U.S. Agency Security FHLB 03/11/21 03/25/26 0.875% 250,000 251,000 $226,063 Stifel U.S. Agency Security FHLB 06/29/20 06/30/25 0.650% 375,000 375,000 $353,985 Stifel U.S. Agency Security FHLB 02/09/21 02/09/26 0.300% 250,000 250,000 $227,358 Stifel U.S. Agency Security FHLB 08/10/21 02/18/26 0.600% 250,000 248,250 $225,435 Stifel U.S. Agency Security FHLB 02/18/21 02/18/26 0.600% 250,000 250,000 $225,435 Multi-Bank U.S. Agency Security FHLB 02/26/21 02/26/26 0.580% 250,000 250,000 $225,125 Multi-Bank U.S. Agency Security FHLB 01/26/21 01/26/26 0.560% 250,000 250,000 $225,745 Multi-Bank U.S. Agency Security FHLB 02/24/21 02/24/26 0.625% 250,000 249,500 $225,420 Stifel U.S. Agency Security FHLB 02/25/21 02/25/26 0.660% 250,000 250,000 $225,583 Stifel U.S. Agency Security FHLB 02/12/21 02/12/26 0.520% 250,000 249,750 $225,173 Stifel U.S. Agency Security FHLB 05/18/21 05/26/26 1.030% 250,000 250,000 $225,725 Multi-Bank U.S. Agency Security FHLB 06/29/20 06/30/25 0.680% 250,000 250,000 $231,625 Stifel U.S. Agency Security FHLB 09/30/21 10/13/26 1.100% 250,000 249,823 $222,953 Stifel U.S. Agency Security FHLB 04/22/21 02/24/26 0.750% 250,000 249,375 $226,090 Stifel U.S. Agency Security FHLB 02/25/22 02/25/27 2.000% 250,000 250,000 $226,203 Stifel U.S. Agency Security FHLB 04/28/22 05/10/27 3.100% 250,000 249,750 $233,670 Stifel U.S. Agency Security FHLB 07/12/22 06/30/27 3.250% 250,000 250,089 $240,690 Stifel U.S. Agency Security FHLB 08/18/22 04/21/27 2.250% 250,000 248,406 $241,110 Stifel U.S. Agency Security FHLB 08/29/22 08/28/25 3.600% 250,000 249,625 $242,775 Stifel U.S. Agency Security FHLB 11/04/22 04/21/27 3.200% 760,000 715,928 $711,299 Stifel U.S. Agency Security FHLB 02/15/23 02/09/28 5.050% 700,000 698,336 $681,443 Stifel U.S. Agency Security FHLB 06/21/23 04/05/27 5.500% 250,000 250,000 $246,565 Stifel U.S. Agency Security FHLB 07/13/23 09/16/27 5.050% 440,000 439,968 $430,439 Stifel U.S. Agency Security FHLB 06/14/23 05/28/27 5.600% 250,000 250,622 $246,863 Stifel U.S. Agency Security FHLMC 06/19/20 06/30/25 0.720% 250,000 250,000 $231,783 Stifel U.S. Agency Security FHLMC 07/14/20 07/14/25 0.600% 250,000 250,000 $231,145 Stifel U.S. Agency Security FHLMC 07/23/20 07/23/25 0.500% 250,000 249,625 $230,603 Stifel U.S. Agency Security FHLMC 04/12/22 10/08/24 2.500% 250,000 249,729 $242,980 Stifel U.S. Agency Security FHLMC 05/05/22 05/26/27 3.250% 250,000 250,000 $240,905 Stifel U.S. Agency Security FHLMC 09/15/22 08/01/27 3.740% 250,000 248,540 $233,669 Stifel U.S. Agency Security FHLMC 06/15/23 06/15/28 5.500% 500,000 500,000 $494,900 Stifel U.S. Agency Security FNMA 06/04/20 06/04/25 0.710% 250,000 250,000 $232,388 Multi-Bank U.S. Agency Security FNMA 07/22/20 07/22/25 0.600% 250,000 250,000 $230,768 Stifel U.S. Agency Security FNMA 08/03/20 08/19/25 0.625% 250,000 250,000 $230,120 Stifel U.S. Agency Security FNMA 08/03/20 08/12/25 0.500% 250,000 250,000 $230,020 Stifel U.S. Agency Security FNMA 07/21/21 10/22/25 0.560% 250,000 249,529 $228,420 Stifel U.S. Agency Security FNMA 08/17/20 08/14/25 0.500% 250,000 249,875 $229,700 Stifel U.S. Agency Security FNMA 07/21/22 09/01/26 2.150% 250,000 238,655 $227,256 Stifel U.S. Agency Security FNMA 08/16/22 04/01/26 2.670% 250,000 224,798 $210,094 Stifel U.S. Agency Security FNMA 07/29/20 07/29/25 0.700% 250,000 250,000 $231,013 Multi-Bank U.S. Agency Security Treasury 05/12/21 12/31/25 0.375% 250,000 245,850 $226,505 Stifel U.S. Agency Security Treasury 06/24/21 06/30/25 0.250% 250,000 246,125 $230,558 Stifel U.S. Agency Security Treasury 06/15/21 11/30/25 0.375% 250,000 247,659 $227,110 Stifel U.S. Agency Security Treasury 06/24/21 02/28/26 0.500% 250,000 246,775 $225,538 Stifel U.S. Agency Security Treasury 07/21/21 09/30/25 0.250% 250,000 246,675 $228,175 Stifel U.S. Agency Security Treasury 07/29/21 08/31/25 0.250% 250,000 248,150 $228,888 Stifel U.S. Agency Security Treasury 08/10/21 10/31/25 0.250% 250,000 246,725 $227,295 Stifel U.S. Agency Security Treasury 09/29/21 06/30/26 0.875% 250,000 249,550 $225,195 Stifel U.S. Agency Security Treasury 11/15/21 01/31/26 0.375% 250,000 242,450 $225,568 Stifel U.S. Agency Security Treasury 04/29/21 04/30/26 0.750% 500,000 497,800 $451,135 Stifel Total Government Securities 19,525,000 19,402,380 18,032,771 Municipal Bonds*** various 250,000 247,965 213,631
Negotiable Certificates of Deposit *** various 10,911,000 10,911,000 10,094,108 Corporate Bonds*** various
Total Investments $ 32,208,393 $ 32,083,738 $ 29,842,057.31 Deposits in Bank 566,781
*
Miscellaneous Cash 2,200 **
Total Cash and Deposits 568,981
Total Investments, Cash and Deposits $ 32,652,719
* Deposits represent the equity in the checking & payroll accounts. ** Miscellaneous cash represents a total of all petty cash accounts. *** Detailed list of Negotiable Certificates of Deposit/Corporate Bonds attached Alex Merkel Medina
Finance Manager
I certify that this investment portfolio is in conformity with the Investment Policy of the City of La Puente as stated in Resolution No. 23-5798 dated May 23, 2023. The Investment Program provides sufficient liquidity to meet the next six months' estimated expenditures.

Troy O. Grunklee, CPA
Dir. Of Aministrative Services

ATTACHMENT B
CITY OF LA PUENTE Cash and Investment Report October 31, 2023 Negotiable Certificates of Deposit
Purchase Maturity Interest Face Book Market Source of
Issuer Date Date Rate Value Value Value Valuation
JP Morgan Chase Bank 5/19/20 5/28/25 1.00% 248,000 248,000 230,734 Stifel Greenstate Credit Union 3/30/21 4/16/26 0.95% 249,000 249,000 223,360 Stifel UBS Bank 6/15/21 6/23/26 0.75% 248,000 248,000 219,966 Stifel Parsons FCU 6/24/21 6/30/26 0.50% 249,000 249,000 222,018 Stifel State Bank of India, NY 5/5/21 5/19/26 1.00% 248,000 248,000 222,359 Stifel Sallie Mae Bank 6/30/21 7/8/26 1.00% 247,000 247,000 220,546 Stifel Medallion Bank 9/14/21 9/30/26 0.90% 249,000 249,000 220,034 Stifel Goldman Sachs Bank 7/20/21 7/28/26 1.00% 248,000 248,000 220,658 Stifel Capital One Bank NA 11/8/21 11/17/26 1.10% 248,000 248,000 219,780 Stifel East Boston Savings Bank 8/14/20 8/14/25 0.50% 248,000 248,000 226,273 Stifel Citadel Federal Credit Union 2/26/20 2/27/25 1.65% 248,000 248,000 235,250 Stifel Axos Bank 2/27/20 3/26/25 1.65% 249,000 249,000 235,464 Stifel Pathfinder Bank 10/2/20 10/14/25 0.50% 249,000 249,000 225,300 Stifel Toyota Bank 7/21/21 7/29/26 0.95% 248,000 248,000 220,757 Stifel Synchrony Bank 8/24/21 8/27/26 0.90% 248,000 248,000 220,708 Stifel Pentagon FCU 8/17/21 9/1/26 0.85% 249,000 249,000 220,213 Stifel Texas Exchange Bank 9/28/21 11/14/25 0.85% 249,000 249,000 226,117 Stifel USF Federal Credit Union 10/14/21 10/28/26 0.90% 249,000 249,000 219,586 Stifel Live Oak Bank 10/4/21 10/19/26 0.90% 249,000 249,000 219,728 Stifel Bank Hapoalim 12/8/21 12/26/26 1.35% 248,000 248,000 220,722 Stifel Connexus Credit Union 12/20/21 12/23/26 1.15% 249,000 249,000 220,482 Stifel Nelnet Bank 1/24/22 2/2/27 1.45% 248,000 248,000 220,317 Stifel Amerant Bank 2/14/22 2/16/27 1.60% 248,000 248,000 220,908 Stifel Beal Bank 3/1/22 3/3/27 2.05% 248,000 248,000 223,870 Stifel Ally Bank 7/22/22 7/28/26 3.25% 246,000 246,000 233,213 Stifel Capital One Bank USA 7/14/22 7/20/27 3.40% 245,000 245,000 228,881 Stifel Discover Bank 7/14/22 7/20/27 3.35% 245,000 245,000 228,475 Stifel American Express National Bank 7/22/22 7/27/27 3.45% 245,000 245,000 228,948 Stifel St. Vincent Medical Center Credit Union 8/3/22 8/12/27 3.50% 249,000 249,000 233,022 Stifel Belmont Bank 8/5/22 8/24/27 3.15% 249,000 249,000 229,825 Stifel Resource One Credit Union 8/3/22 8/18/25 3.30% 249,000 249,000 238,965 Stifel Cobalt Credit Union 9/1/22 9/15/27 3.60% 249,000 249,000 233,360 Stifel Healthcare System FCU 9/7/22 9/21/26 3.60% 249,000 249,000 238,178 Stifel Coca Cola FCU 1/31/23 2/2/26 4.60% 249,000 249,000 244,152 Stifel Affinity Bank 3/13/23 3/17/28 4.90% 248,000 248,000 243,015 Stifel Morgan Stanley Bank NA 3/17/23 3/23/28 4.90% 244,000 244,000 239,088 Stifel Morgan Stanley Private Bank 3/17/23 3/23/28 4.90% 244,000 244,000 239,088 Stifel American First Credit Union 4/24/23 4/27/27 4.40% 249,000 249,000 241,861 Stifel Cy Fair FCU 5/4/23 5/19/27 4.35% 248,000 248,000 240,250 Stifel Alabama Credit Union 6/7/23 12/21/26 4.85% 248,000 248,000 245,421 Stifel Jeep Country FCU 6/21/23 6/29/27 4.70% 248,000 248,000 242,668 Stifel First Bank of DeQueen 8/21/19 8/30/24 1.80% 249,000 249,000 241,166 Multi-Bank Luana Savings Bank 2/28/20 2/28/25 1.55% 248,000 248,000 234,965 Multi-Bank Celtic Bank 4/17/20 4/17/25 1.50% 249,000 249,000 234,414 Multi-Bank Total for Negotiable Certificates of Deposit $ 10,911,000 $10,911,000$10,094,108

ATTACHMENT D
CITY OF LA PUENTE Cash and Investment Report October 31, 2023 Municipal Bonds
Purchase Maturity Interest Face Book Market Market
Issuer Date Date Rate Value Value Value Valuation
State of California 1/11/21 4/1/25 3.38% 250,000 247,965 213,631.00 Multi-Bank Total for Municipal Bonds $ 250,000 $ 247,965 $ 213,631

CITY OF LA PUENTE ATTACHMENT E
Cash and Investment Report Charts October 31, 2023
Local Agency Investment
Fund, $1,522,393
Municipal Bonds, $247,965
Federal Agency Securities,
$19,402,380
Negotiable Certificates of
Deposit, $10,911,000
Available Cash, $568,981
Investment Types
0%
5%
10%
15%
20%
25%
30%
35%
40%
< 12 MOS. 13-24 MOS. 25-36 MOS. 37-48 MOS. 49-60 MOS.
3%
28%
39%
25%
5%
PER
CEN
T
A
GE T
O
T
O
T
AL

DURATION OF MATURITY
Maturity Distribution

CITY OF LA PUENTE ATTACHMENT A
Cash and Investment Report
November 30, 2023
Source of
Purchase Maturity Interest Face Book Market Market
Investment Type Issuer Date Date Rate Value Value Value Valuation Local Agency Investment Fund State of California 3.843% $ 572,393 $ 572,393 $ 564,556 LAIF Government Obligations
U.S. Agency Security FFCB 06/10/20 06/10/25 0.680% 250,000 250,000 $234,185 Multi-Bank U.S. Agency Security FFCB 06/02/20 06/09/25 0.500% 250,000 250,000 $233,375 Stifel U.S. Agency Security FFCB 03/22/21 04/01/25 0.710% 250,000 250,000 $236,010 Stifel U.S. Agency Security FFCB 02/24/21 03/03/26 0.790% 250,000 250,000 $229,175 Stifel U.S. Agency Security FFCB 08/03/21 08/10/26 0.710% 250,000 250,000 $225,290 Stifel U.S. Agency Security FFCB 08/30/21 09/01/26 0.870% 500,000 499,800 $450,370 Stifel U.S. Agency Security FFCB 08/30/21 02/10/25 0.480% 250,000 249,750 $236,313 Stifel U.S. Agency Security FFCB 09/23/21 09/28/26 0.940% 250,000 249,500 $225,740 Stifel U.S. Agency Security FFCB 09/02/21 09/08/26 0.870% 250,000 250,000 $225,653 Stifel U.S. Agency Security FFCB 07/29/20 07/29/25 0.580% 250,000 250,000 $232,693 Stifel U.S. Agency Security FFCB 10/07/21 10/07/26 1.000% 250,000 249,625 $226,188 Stifel U.S. Agency Security FFCB 10/28/21 11/03/26 1.330% 250,000 250,000 $227,825 Stifel U.S. Agency Security FFCB 11/10/21 11/16/26 1.270% 250,000 250,000 $227,210 Stifel U.S. Agency Security FFCB 11/24/21 11/30/26 1.460% 500,000 500,000 $436,535 Stifel U.S. Agency Security FFCB 06/27/23 06/09/28 4.690% 250,000 249,869 $244,908 Stifel U.S. Agency Security FHLB 05/05/20 05/19/25 0.750% 250,000 250,000 $234,253 Stifel U.S. Agency Security FHLB 03/02/21 02/26/26 0.850% 250,000 250,000 $229,605 Stifel U.S. Agency Security FHLB 03/08/21 03/30/26 0.980% 250,000 250,000 $229,620 Stifel U.S. Agency Security FHLB 03/11/21 03/25/26 0.875% 250,000 251,000 $228,640 Stifel U.S. Agency Security FHLB 06/29/20 06/30/25 0.650% 375,000 375,000 $356,055 Stifel U.S. Agency Security FHLB 02/09/21 02/09/26 0.300% 250,000 250,000 $230,313 Stifel U.S. Agency Security FHLB 08/10/21 02/18/26 0.600% 250,000 248,250 $227,838 Stifel U.S. Agency Security FHLB 02/18/21 02/18/26 0.600% 250,000 250,000 $227,838 Multi-Bank U.S. Agency Security FHLB 02/26/21 02/26/26 0.580% 250,000 250,000 $228,193 Multi-Bank U.S. Agency Security FHLB 01/26/21 01/26/26 0.560% 250,000 250,000 $228,705 Multi-Bank U.S. Agency Security FHLB 02/24/21 02/24/26 0.625% 250,000 249,500 $228,470 Stifel U.S. Agency Security FHLB 02/25/21 02/25/26 0.660% 250,000 250,000 $228,633 Stifel U.S. Agency Security FHLB 02/12/21 02/12/26 0.520% 250,000 249,750 $227,368 Stifel U.S. Agency Security FHLB 05/18/21 05/26/26 1.030% 250,000 250,000 $229,003 Multi-Bank U.S. Agency Security FHLB 06/29/20 06/30/25 0.680% 250,000 250,000 $232,918 Stifel U.S. Agency Security FHLB 09/30/21 10/13/26 1.100% 250,000 249,823 $226,735 Stifel U.S. Agency Security FHLB 04/22/21 02/24/26 0.750% 250,000 249,375 $228,278 Stifel U.S. Agency Security FHLB 02/25/22 02/25/27 2.000% 250,000 250,000 $230,368 Stifel U.S. Agency Security FHLB 04/28/22 05/10/27 3.100% 250,000 249,750 $237,970 Stifel U.S. Agency Security FHLB 07/12/22 06/30/27 3.250% 250,000 250,089 $233,454 Stifel U.S. Agency Security FHLB 08/18/22 04/21/27 2.250% 250,000 248,406 $242,625 Stifel U.S. Agency Security FHLB 08/29/22 08/28/25 3.600% 250,000 249,625 $244,540 Stifel U.S. Agency Security FHLB 11/04/22 04/21/27 3.200% 760,000 715,928 $723,079 Stifel U.S. Agency Security FHLB 02/15/23 02/09/28 5.050% 700,000 698,336 $689,507 Stifel U.S. Agency Security FHLB 06/21/23 04/05/27 5.500% 250,000 250,000 $248,285 Stifel U.S. Agency Security FHLB 07/13/23 09/16/27 5.050% 440,000 439,968 $434,839 Stifel U.S. Agency Security FHLB 06/14/23 05/28/27 5.600% 250,000 250,622 $248,478 Stifel U.S. Agency Security FHLMC 06/19/20 06/30/25 0.720% 250,000 250,000 $233,070 Stifel U.S. Agency Security FHLMC 07/14/20 07/14/25 0.600% 250,000 250,000 $232,583 Stifel U.S. Agency Security FHLMC 07/23/20 07/23/25 0.500% 250,000 249,625 $232,768 Stifel U.S. Agency Security FHLMC 05/05/22 05/26/27 3.250% 250,000 250,000 $243,578 Stifel U.S. Agency Security FHLMC 09/15/22 08/01/27 3.740% 250,000 248,540 $238,927 Stifel U.S. Agency Security FHLMC 06/15/23 06/15/28 5.500% 500,000 500,000 $497,605 Stifel U.S. Agency Security FNMA 06/04/20 06/04/25 0.710% 250,000 250,000 $234,370 Multi-Bank U.S. Agency Security FNMA 07/22/20 07/22/25 0.600% 250,000 250,000 $232,923 Stifel U.S. Agency Security FNMA 08/03/20 08/19/25 0.625% 250,000 250,000 $231,705 Stifel U.S. Agency Security FNMA 08/03/20 08/12/25 0.500% 250,000 250,000 $232,278 Stifel U.S. Agency Security FNMA 07/21/21 10/22/25 0.560% 250,000 249,529 $230,613 Stifel U.S. Agency Security FNMA 08/17/20 08/14/25 0.500% 250,000 249,875 $231,960 Stifel U.S. Agency Security FNMA 07/21/22 09/01/26 2.150% 250,000 238,655 $230,530 Stifel U.S. Agency Security FNMA 08/16/22 04/01/26 2.670% 250,000 224,798 $242,419 Stifel U.S. Agency Security FNMA 07/29/20 07/29/25 0.700% 250,000 250,000 $233,163 Multi-Bank U.S. Agency Security Treasury 05/12/21 12/31/25 0.375% 250,000 245,850 $229,073 Stifel U.S. Agency Security Treasury 06/24/21 06/30/25 0.250% 250,000 246,125 $232,530 Stifel U.S. Agency Security Treasury 06/15/21 11/30/25 0.375% 250,000 247,659 $229,560 Stifel U.S. Agency Security Treasury 06/24/21 02/28/26 0.500% 250,000 246,775 $228,273 Stifel U.S. Agency Security Treasury 07/21/21 09/30/25 0.250% 250,000 246,675 $230,400 Stifel U.S. Agency Security Treasury 07/29/21 08/31/25 0.250% 250,000 248,150 $231,035 Stifel U.S. Agency Security Treasury 08/10/21 10/31/25 0.250% 250,000 246,725 $229,658 Stifel U.S. Agency Security Treasury 09/29/21 06/30/26 0.875% 250,000 249,550 $228,223 Stifel U.S. Agency Security Treasury 11/15/21 01/31/26 0.375% 250,000 242,450 $228,243 Stifel U.S. Agency Security Treasury 04/29/21 04/30/26 0.750% 500,000 497,800 $456,895 Stifel Total Government Securities 19,025,000 18,902,747 17,749,448 Municipal Bonds*** various 250,000 247,965 214,980
Negotiable Certificates of Deposit *** various 10,911,000 10,911,000 10,150,534 Corporate Bonds*** various
Total Investments $ 30,758,393 $ 30,634,105 $ 28,679,516.93 Deposits in Bank -
*
Miscellaneous Cash 2,200 **
Total Cash and Deposits 2,200
Total Investments, Cash and Deposits $ 30,636,305
* Deposits represent the equity in the checking & payroll accounts. ** Miscellaneous cash represents a total of all petty cash accounts. *** Detailed list of Negotiable Certificates of Deposit/Corporate Bonds attached Alex Merkel Medina
Finance Manager
I certify that this investment portfolio is in conformity with the Investment Policy of the City of La Puente as stated in Resolution No. 23-5798 dated May 23, 2023. The Investment Program provides sufficient liquidity to meet the next six months' estimated expenditures.

Troy O. Grunklee, CPA
Dir. Of Aministrative Services

ATTACHMENT B
CITY OF LA PUENTE Cash and Investment Report November 30, 2023 Negotiable Certificates of Deposit
Purchase Maturity Interest Face Book Market Source of
Issuer Date Date Rate Value Value Value Valuation
JP Morgan Chase Bank 5/19/20 5/28/25 1.00% 248,000 248,000 232,438 Stifel Greenstate Credit Union 3/30/21 4/16/26 0.95% 249,000 249,000 225,318 Stifel UBS Bank 6/15/21 6/23/26 0.75% 248,000 248,000 221,652 Stifel Parsons FCU 6/24/21 6/30/26 0.50% 249,000 249,000 223,667 Stifel State Bank of India, NY 5/5/21 5/19/26 1.00% 248,000 248,000 224,095 Stifel Sallie Mae Bank 6/30/21 7/8/26 1.00% 247,000 247,000 222,090 Stifel Medallion Bank 9/14/21 9/30/26 0.90% 249,000 249,000 221,192 Stifel Goldman Sachs Bank 7/20/21 7/28/26 1.00% 248,000 248,000 222,121 Stifel Capital One Bank NA 11/8/21 11/17/26 1.10% 248,000 248,000 220,809 Stifel East Boston Savings Bank 8/14/20 8/14/25 0.50% 248,000 248,000 228,430 Stifel Citadel Federal Credit Union 2/26/20 2/27/25 1.65% 248,000 248,000 236,612 Stifel Axos Bank 2/27/20 3/26/25 1.65% 249,000 249,000 236,916 Stifel Pathfinder Bank 10/2/20 10/14/25 0.50% 249,000 249,000 227,730 Stifel Toyota Bank 7/21/21 7/29/26 0.95% 248,000 248,000 222,213 Stifel Synchrony Bank 8/24/21 8/27/26 0.90% 248,000 248,000 222,007 Stifel Pentagon FCU 8/17/21 9/1/26 0.85% 249,000 249,000 221,540 Stifel Texas Exchange Bank 9/28/21 11/14/25 0.85% 249,000 249,000 228,552 Stifel USF Federal Credit Union 10/14/21 10/28/26 0.90% 249,000 249,000 220,582 Stifel Live Oak Bank 10/4/21 10/19/26 0.90% 249,000 249,000 220,778 Stifel Bank Hapoalim 12/8/21 12/26/26 1.35% 248,000 248,000 221,851 Stifel Connexus Credit Union 12/20/21 12/23/26 1.15% 249,000 249,000 221,650 Stifel Nelnet Bank 1/24/22 2/2/27 1.45% 248,000 248,000 221,298 Stifel Amerant Bank 2/14/22 2/16/27 1.60% 248,000 248,000 222,059 Stifel Beal Bank 3/1/22 3/3/27 2.05% 248,000 248,000 224,963 Stifel Ally Bank 7/22/22 7/28/26 3.25% 246,000 246,000 234,285 Stifel Capital One Bank USA 7/14/22 7/20/27 3.40% 245,000 245,000 229,918 Stifel Discover Bank 7/14/22 7/20/27 3.35% 245,000 245,000 229,518 Stifel American Express National Bank 7/22/22 7/27/27 3.45% 245,000 245,000 230,001 Stifel St. Vincent Medical Center Credit Union 8/3/22 8/12/27 3.50% 249,000 249,000 234,122 Stifel Belmont Bank 8/5/22 8/24/27 3.15% 249,000 249,000 230,992 Stifel Resource One Credit Union 8/3/22 8/18/25 3.30% 249,000 249,000 240,673 Stifel Cobalt Credit Union 9/1/22 9/15/27 3.60% 249,000 249,000 234,457 Stifel Healthcare System FCU 9/7/22 9/21/26 3.60% 249,000 249,000 238,943 Stifel Coca Cola FCU 1/31/23 2/2/26 4.60% 249,000 249,000 245,756 Stifel Affinity Bank 3/13/23 3/17/28 4.90% 248,000 248,000 243,809 Stifel Morgan Stanley Bank NA 3/17/23 3/23/28 4.90% 244,000 244,000 239,820 Stifel Morgan Stanley Private Bank 3/17/23 3/23/28 4.90% 244,000 244,000 239,820 Stifel American First Credit Union 4/24/23 4/27/27 4.40% 249,000 249,000 242,685 Stifel Cy Fair FCU 5/4/23 5/19/27 4.35% 248,000 248,000 241,106 Stifel Alabama Credit Union 6/7/23 12/21/26 4.85% 248,000 248,000 246,011 Stifel Jeep Country FCU 6/21/23 6/29/27 4.70% 248,000 248,000 243,529 Stifel First Bank of DeQueen 8/21/19 8/30/24 1.80% 249,000 249,000 242,242 Multi-Bank Luana Savings Bank 2/28/20 2/28/25 1.55% 248,000 248,000 236,319 Multi-Bank Celtic Bank 4/17/20 4/17/25 1.50% 249,000 249,000 235,962 Multi-Bank Total for Negotiable Certificates of Deposit $ 10,911,000 $10,911,000$10,150,534

ATTACHMENT D
CITY OF LA PUENTE Cash and Investment Report November 30, 2023 Municipal Bonds
Purchase Maturity Interest Face Book Market Market
Issuer Date Date Rate Value Value Value Valuation
State of California 1/11/21 4/1/25 3.38% 250,000 247,965 214,979.60 Multi-Bank Total for Municipal Bonds $ 250,000 $ 247,965 $ 214,980

CITY OF LA PUENTE ATTACHMENT E
Cash and Investment Report Charts November 30, 2023
Local Agency Investment
Fund, $572,393
Municipal Bonds, $247,965
Federal Agency Securities,
$18,902,747
Negotiable Certificates of
Deposit, $10,911,000
Available Cash, $2,200
Investment Types
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
< 12 MOS. 13-24 MOS. 25-36 MOS. 37-48 MOS. 49-60 MOS.
1%
30%
41%
22%
5%
PER
CEN
T
A
GE T
O
T
O
T
AL

DURATION OF MATURITY
Maturity Distribution

CITY OF LA PUENTE ATTACHMENT A
Cash and Investment Report
December 31, 2023
Source of
Purchase Maturity Interest Face Book Market Market
Investment Type Issuer Date Date Rate Value Value Value Valuation Local Agency Investment Fund State of California 3.929% $ 1,630,393 $ 1,630,393 $ 1,608,069 LAIF Government Obligations
U.S. Agency Security FFCB 06/10/20 06/10/25 0.680% 250,000 250,000 $236,300 Multi-Bank U.S. Agency Security FFCB 06/02/20 06/09/25 0.500% 250,000 250,000 $236,290 Stifel U.S. Agency Security FFCB 03/22/21 04/01/25 0.710% 250,000 250,000 $237,943 Stifel U.S. Agency Security FFCB 02/24/21 03/03/26 0.790% 250,000 250,000 $231,625 Stifel U.S. Agency Security FFCB 08/03/21 08/10/26 0.710% 250,000 250,000 $227,883 Stifel U.S. Agency Security FFCB 08/30/21 09/01/26 0.870% 500,000 499,800 $456,735 Stifel U.S. Agency Security FFCB 08/30/21 02/10/25 0.480% 250,000 249,750 $238,180 Stifel U.S. Agency Security FFCB 09/23/21 09/28/26 0.940% 250,000 249,500 $228,240 Stifel U.S. Agency Security FFCB 09/02/21 09/08/26 0.870% 250,000 250,000 $228,218 Stifel U.S. Agency Security FFCB 07/29/20 07/29/25 0.580% 250,000 250,000 $234,878 Stifel U.S. Agency Security FFCB 10/07/21 10/07/26 1.000% 250,000 249,625 $228,483 Stifel U.S. Agency Security FFCB 10/28/21 11/03/26 1.330% 250,000 250,000 $230,018 Stifel U.S. Agency Security FFCB 11/10/21 11/16/26 1.270% 250,000 250,000 $229,378 Stifel U.S. Agency Security FFCB 11/24/21 11/30/26 1.460% 500,000 500,000 $460,800 Stifel U.S. Agency Security FFCB 06/27/23 06/09/28 4.690% 250,000 250,060 $247,480 Stifel U.S. Agency Security FHLB 05/05/20 05/19/25 0.750% 250,000 250,000 $237,988 Stifel U.S. Agency Security FHLB 03/02/21 02/26/26 0.850% 250,000 250,000 $232,150 Stifel U.S. Agency Security FHLB 03/08/21 03/30/26 0.980% 250,000 250,000 $232,023 Stifel U.S. Agency Security FHLB 03/11/21 03/25/26 0.875% 250,000 251,000 $231,578 Stifel U.S. Agency Security FHLB 06/29/20 06/30/25 0.650% 375,000 375,000 $361,361 Stifel U.S. Agency Security FHLB 02/09/21 02/09/26 0.300% 250,000 250,000 $233,168 Stifel U.S. Agency Security FHLB 08/10/21 02/18/26 0.600% 250,000 248,250 $231,070 Stifel U.S. Agency Security FHLB 02/18/21 02/18/26 0.600% 250,000 250,000 $231,070 Multi-Bank U.S. Agency Security FHLB 02/26/21 02/26/26 0.580% 250,000 250,000 $230,780 Multi-Bank U.S. Agency Security FHLB 01/26/21 01/26/26 0.560% 250,000 250,000 $231,503 Multi-Bank U.S. Agency Security FHLB 02/24/21 02/24/26 0.625% 250,000 249,500 $231,055 Stifel U.S. Agency Security FHLB 02/25/21 02/25/26 0.660% 250,000 250,000 $231,210 Stifel U.S. Agency Security FHLB 02/12/21 02/12/26 0.520% 250,000 249,750 $230,813 Stifel U.S. Agency Security FHLB 05/18/21 05/26/26 1.030% 250,000 250,000 $231,273 Multi-Bank U.S. Agency Security FHLB 06/29/20 06/30/25 0.680% 250,000 250,000 $236,678 Stifel U.S. Agency Security FHLB 09/30/21 10/13/26 1.100% 250,000 249,823 $229,008 Stifel U.S. Agency Security FHLB 04/22/21 02/24/26 0.750% 250,000 249,375 $231,568 Stifel U.S. Agency Security FHLB 02/25/22 02/25/27 2.000% 250,000 250,000 $233,753 Stifel U.S. Agency Security FHLB 04/28/22 05/10/27 3.100% 250,000 249,750 $241,480 Stifel U.S. Agency Security FHLB 07/12/22 06/30/27 3.250% 250,000 250,089 $245,288 Stifel U.S. Agency Security FHLB 08/18/22 04/21/27 2.250% 250,000 248,406 $249,305 Stifel U.S. Agency Security FHLB 08/29/22 08/28/25 3.600% 250,000 249,625 $246,415 Stifel U.S. Agency Security FHLB 11/04/22 04/21/27 3.200% 760,000 715,928 $737,284 Stifel U.S. Agency Security FHLB 02/15/23 02/09/28 5.050% 700,000 698,336 $693,840 Stifel U.S. Agency Security FHLB 06/21/23 04/05/27 5.500% 250,000 250,000 $249,108 Stifel U.S. Agency Security FHLB 07/13/23 09/16/27 5.050% 440,000 439,968 $437,320 Stifel U.S. Agency Security FHLB 06/14/23 05/28/27 5.600% 250,000 250,622 $249,103 Stifel U.S. Agency Security FHLMC 06/19/20 06/30/25 0.720% 250,000 250,000 $236,820 Stifel U.S. Agency Security FHLMC 07/14/20 07/14/25 0.600% 250,000 250,000 $235,678 Stifel U.S. Agency Security FHLMC 07/23/20 07/23/25 0.500% 250,000 249,625 $235,118 Stifel U.S. Agency Security FHLMC 05/05/22 05/26/27 3.250% 250,000 250,000 $245,388 Stifel U.S. Agency Security FHLMC 09/15/22 08/01/27 3.740% 250,000 248,540 $243,441 Stifel U.S. Agency Security FHLMC 06/15/23 06/15/28 5.500% 500,000 500,000 $498,905 Stifel U.S. Agency Security FNMA 06/04/20 06/04/25 0.710% 250,000 250,000 $237,408 Multi-Bank U.S. Agency Security FNMA 07/22/20 07/22/25 0.600% 250,000 250,000 $235,830 Stifel U.S. Agency Security FNMA 08/03/20 08/19/25 0.625% 250,000 250,000 $235,100 Stifel U.S. Agency Security FNMA 08/03/20 08/12/25 0.500% 250,000 250,000 $234,675 Stifel U.S. Agency Security FNMA 07/21/21 10/22/25 0.560% 250,000 249,529 $232,955 Stifel U.S. Agency Security FNMA 08/17/20 08/14/25 0.500% 250,000 249,875 $234,828 Stifel U.S. Agency Security FNMA 07/21/22 09/01/26 2.150% 250,000 238,655 $234,626 Stifel U.S. Agency Security FNMA 08/16/22 04/01/26 2.670% 250,000 224,798 $214,512 Stifel U.S. Agency Security FNMA 07/29/20 07/29/25 0.700% 250,000 250,000 $236,028 Multi-Bank U.S. Agency Security Treasury 05/12/21 12/31/25 0.375% 250,000 245,850 $231,748 Stifel U.S. Agency Security Treasury 06/15/21 11/30/25 0.375% 250,000 247,659 $232,228 Stifel U.S. Agency Security Treasury 06/24/21 02/28/26 0.500% 250,000 246,775 $231,103 Stifel U.S. Agency Security Treasury 07/21/21 09/30/25 0.250% 250,000 246,675 $232,870 Stifel U.S. Agency Security Treasury 07/29/21 08/31/25 0.250% 250,000 248,150 $233,448 Stifel U.S. Agency Security Treasury 08/10/21 10/31/25 0.250% 250,000 246,725 $232,275 Stifel U.S. Agency Security Treasury 09/29/21 06/30/26 0.875% 250,000 249,550 $231,270 Stifel U.S. Agency Security Treasury 04/29/21 04/30/26 0.750% 500,000 497,800 $462,735 Stifel Total Government Securities 18,525,000 18,414,363 17,488,616 Municipal Bonds*** various 250,000 247,965 216,238
Negotiable Certificates of Deposit *** various 10,662,000 10,662,000 10,041,083 Corporate Bonds*** various
Total Investments $ 31,067,393 $ 30,954,722 $ 29,354,006.91 Deposits in Bank 168,369
*
Miscellaneous Cash 2,200 **
Total Cash and Deposits 170,569
Total Investments, Cash and Deposits $ 31,125,291
* Deposits represent the equity in the checking & payroll accounts. ** Miscellaneous cash represents a total of all petty cash accounts. *** Detailed list of Negotiable Certificates of Deposit/Corporate Bonds attached Alex Merkel Medina
Finance Manager
I certify that this investment portfolio is in conformity with the Investment Policy of the City of La Puente as stated in Resolution No. 23-5798 dated May 23, 2023. The Investment Program provides sufficient liquidity to meet the next six months' estimated expenditures.

Troy O. Grunklee, CPA
Dir. Of Aministrative Services

ATTACHMENT B
CITY OF LA PUENTE Cash and Investment Report December 31, 2023 Negotiable Certificates of Deposit
Purchase Maturity Interest Face Book Market Source of
Issuer Date Date Rate Value Value Value Valuation
JP Morgan Chase Bank 5/19/20 5/28/25 1.00% 248,000 248,000 234,615 Stifel Greenstate Credit Union 3/30/21 4/16/26 0.95% 249,000 249,000 228,111 Stifel UBS Bank 6/15/21 6/23/26 0.75% 248,000 248,000 224,318 Stifel Parsons FCU 6/24/21 6/30/26 0.50% 249,000 249,000 226,346 Stifel State Bank of India, NY 5/5/21 5/19/26 1.00% 248,000 248,000 226,796 Stifel Sallie Mae Bank 6/30/21 7/8/26 1.00% 247,000 247,000 224,666 Stifel Medallion Bank 9/14/21 9/30/26 0.90% 249,000 249,000 223,592 Stifel Goldman Sachs Bank 7/20/21 7/28/26 1.00% 248,000 248,000 224,663 Stifel Capital One Bank NA 11/8/21 11/17/26 1.10% 248,000 248,000 222,972 Stifel East Boston Savings Bank 8/14/20 8/14/25 0.50% 248,000 248,000 230,915 Stifel Citadel Federal Credit Union 2/26/20 2/27/25 1.65% 248,000 248,000 238,378 Stifel Pathfinder Bank 10/2/20 10/14/25 0.50% 249,000 249,000 230,427 Stifel Toyota Bank 7/21/21 7/29/26 0.95% 248,000 248,000 224,750 Stifel Synchrony Bank 8/24/21 8/27/26 0.90% 248,000 248,000 224,457 Stifel Pentagon FCU 8/17/21 9/1/26 0.85% 249,000 249,000 224,008 Stifel Texas Exchange Bank 9/28/21 11/14/25 0.85% 249,000 249,000 231,299 Stifel USF Federal Credit Union 10/14/21 10/28/26 0.90% 249,000 249,000 222,855 Stifel Live Oak Bank 10/4/21 10/19/26 0.90% 249,000 249,000 223,082 Stifel Bank Hapoalim 12/8/21 12/26/26 1.35% 248,000 248,000 223,919 Stifel Connexus Credit Union 12/20/21 12/23/26 1.15% 249,000 249,000 223,826 Stifel Nelnet Bank 1/24/22 2/2/27 1.45% 248,000 248,000 223,775 Stifel Amerant Bank 2/14/22 2/16/27 1.60% 248,000 248,000 224,648 Stifel Beal Bank 3/1/22 3/3/27 2.05% 248,000 248,000 227,637 Stifel Ally Bank 7/22/22 7/28/26 3.25% 246,000 246,000 236,480 Stifel Capital One Bank USA 7/14/22 7/20/27 3.40% 245,000 245,000 233,887 Stifel Discover Bank 7/14/22 7/20/27 3.35% 245,000 245,000 233,492 Stifel American Express National Bank 7/22/22 7/27/27 3.45% 245,000 245,000 234,210 Stifel St. Vincent Medical Center Credit Union 8/3/22 8/12/27 3.50% 249,000 249,000 238,430 Stifel Belmont Bank 8/5/22 8/24/27 3.15% 249,000 249,000 235,479 Stifel Resource One Credit Union 8/3/22 8/18/25 3.30% 249,000 249,000 242,708 Stifel Cobalt Credit Union 9/1/22 9/15/27 3.60% 249,000 249,000 239,187 Stifel Healthcare System FCU 9/7/22 9/21/26 3.60% 249,000 249,000 240,935 Stifel Coca Cola FCU 1/31/23 2/2/26 4.60% 249,000 249,000 248,086 Stifel Affinity Bank 3/13/23 3/17/28 4.90% 248,000 248,000 250,592 Stifel Morgan Stanley Bank NA 3/17/23 3/23/28 4.90% 244,000 244,000 246,540 Stifel Morgan Stanley Private Bank 3/17/23 3/23/28 4.90% 244,000 244,000 246,540 Stifel American First Credit Union 4/24/23 4/27/27 4.40% 249,000 249,000 245,648 Stifel Cy Fair FCU 5/4/23 5/19/27 4.35% 248,000 248,000 244,312 Stifel Alabama Credit Union 6/7/23 12/21/26 4.85% 248,000 248,000 247,640 Stifel Jeep Country FCU 6/21/23 6/29/27 4.70% 248,000 248,000 247,204 Stifel First Bank of DeQueen 8/21/19 8/30/24 1.80% 249,000 249,000 243,627 Multi-Bank Luana Savings Bank 2/28/20 2/28/25 1.55% 248,000 248,000 238,117 Multi-Bank Celtic Bank 4/17/20 4/17/25 1.50% 249,000 249,000 237,912 Multi-Bank Total for Negotiable Certificates of Deposit $ 10,662,000 $10,662,000$10,041,083

ATTACHMENT D
CITY OF LA PUENTE Cash and Investment Report December 31, 2023 Municipal Bonds
Purchase Maturity Interest Face Book Market Market
Issuer Date Date Rate Value Value Value Valuation
State of California 1/11/21 4/1/25 3.38% 250,000 247,965 216,238.00 Multi-Bank Total for Municipal Bonds $ 250,000 $ 247,965 $ 216,238

CITY OF LA PUENTE ATTACHMENT E
Cash and Investment Report Charts December 31, 2023
Local Agency Investment
Fund, $1,630,393
Municipal Bonds, $247,965
Federal Agency Securities,
$18,414,363
Negotiable Certificates of
Deposit, $10,662,000
Available Cash, $170,569
Investment Types
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
< 12 MOS. 13-24 MOS. 25-36 MOS. 37-48 MOS. 49-60 MOS.
1%
30%
43%
20%
6%
PER
CEN
T
A
GE T
O
T
O
T
AL

DURATION OF MATURITY
Maturity Distribution
AGENDA ITEM NO. D-4
To: Mayor and City Council For meeting of: January 23, 2024 From: Bob Lindsey, City Manager
By: Troy O. Grunklee, CPA, Director of Administrative Services Alex Merkel-Medina, Finance Manager
SUBJECT: RECEIVE AND FILE THE CITY’S ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 2023

BACKGROUND
The audit of the City’s financial statements for the Fiscal Year Ended June 30, 2023 (FY 2022/2023) has been completed. The independent auditor, Van Lant & Fankhanel, LLP, rendered an unqualified opinion on the Annual Comprehensive Financial Report (ACFR). An “unqualified opinion” is issued when the independent auditor believes that the City’s financial statements are sound and free from material misstatements.

In compliance with requirements of the State of California and past City practices, the following reports are submitted to the City Council to be received and filed:
 Annual Comprehensive Financial Report
 Independent Accountant’s report on Agreed-Upon Procedures Applied to Appropriations Limit Worksheets
 Independent Auditor’s report on Internal Control and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards
 Statement on Auditing Standards No. 114 Report

DISCUSSION
The FY 2022/23 ACFR is attached for your review. The City ended the fiscal year with a fund balance in the General Fund of $30,665,841 – an increase of $4,587,350 from the previous fiscal year. This increase is attributable to several factors, including a surplus of revenues over expenditures in the amount of $1,073,343. A favorable budget variance occurred in the Public Safety function due to staffing vacancies within the LASD contract. Revenues in excess of appropriations were realized in Property Tax, Charges for Services, and Licenses and Permits. Further, a significant one-time transfer took place from the American Rescue Plan Act (ARPA) fund to the General Fund for the purpose of reimbursing the fund for eligible expenditures incurred therein. This further bolstered the year-end fund balance.

City of La Puente

AGENDA REPORT
Agenda Report: Annual Comprehensive Financial Report
For meeting of: January 23, 2024

The following presents General Fund actuals for the past several years.

FY 19-20 FY 20-21 FY 21-22 FY 22-23
Actuals Actuals Actuals Actuals
Revenues $16,961,227 $17,683,671 $16,760,519 $18,685,839 Other Financing Sources - - - 4,867,072
Total Revenues 17,683,671 17,683,671 16,760,519 23,552,911 Expenditures 13,289,696 14,980,652 16,680,602 17,612,496 Other Financing Uses 80,794 668,375 879,776 1,353,065
Total Expenditures 15,649,027 15,649,027 17,560,378 18,965,561 Increase (decrease) in Fund Balance $3,590,737 $2,034,644 $(799,859) $4,587,350 The General Fund reserves as of June 30, 2023, were $30,665,841. The fund balance reserves are categorized as follows:

Non-Spendable $ 9,869,709
Unassigned 20,796,132
The first category, Non-Spendable, is not in liquid form and therefore, cannot be used to pay for operating expenditures. A significant portion of non-spendable reserves is made up of money due to the City from loans to the former Redevelopment Agency as well as prepaid expenses.

The total year end fund balance for all governmental funds, including the General Fund, Special Revenue Funds, Capital Projects Funds, and Debt Services Funds was $41,066,795.

The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of La Puente for its ACFR for the fiscal year ended June 30, 2021. In order to be awarded a Certificate of Achievement, the government had to publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. The City has submitted the ACFR for the award program once again this year and staff has every expectation that the award will be received for FY 2022/2023.

Printed ACFR books will be distributed to the City Council once they are received from the publishing house, and an electronic version of the document has been posted to the City website for the viewing of the general public.

Agenda Report: Annual Comprehensive Financial Report
For meeting of: January 23, 2024

FISCAL IMPACT
The City ended the year with an increase in combined fund balance for all governmental funds of $7,367,119. This represents an addition to available financial resources for the City to use in future years. This balance would be higher but for a noteworthy exception – the Miscellaneous Grants fund with a negative fund balance of $(1,906,446). This stems from outstanding state grant claims due to the City, and this cash is expected to be received in a subsequent fiscal period.

RECOMMENDATION
It is recommended that the City Council receive and file the Annual Comprehensive Financial Report, the Independent Accountant’s report on the Appropriations Limit Worksheet, the Independent Auditor’s Report on Internal Control and Compliance, and the Statement on Auditing Standard No. 114 Report for the fiscal year ended June 30, 2023.

ATTACHMENTS
Attachment “A”: Annual Comprehensive Financial Report
Attachment “B”: Independent Accountant’s report on Agreed-Upon Procedures Applied to Appropriations Limit Worksheets
Attachment “C”: Statement on Auditing Standard No. 114 Report Attachment “D”: Independent Auditor’s Report on Internal Control and Compliance

ATTACHMENT A
City of La Puente
California
Annual Comprehensive Financial Report
For the Fiscal Year Ended
June 30, 2023
Prepared by:

The Administrative Services Department
City of La Puente
Annual Comprehensive Financial Report
Year Ended June 30, 2023

TABLE OF CONTENTS
PAGE
I. INTRODUCTORY SECTION
Letter of Transmittal i - vi
Directory of Officials vii
Organization Chart viii
Certificate of Achievement for Excellence in Financial Reporting ix II. FINANCIAL SECTION
Independent Auditor’s Report 1 - 3
Management’s Discussion & Analysis 4 - 16
Basic Financial Statements:

Government-wide Financial Statements:

Statement of Net Position 17
Statement of Activities 18 - 19
Fund Financial Statements:

Governmental Funds:

Balance Sheet 20
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position 21 Statement of Revenues, Expenditures and Changes in Fund Balances 22 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities 23 Proprietary Funds:

Statement of Net Position 24
Statement of Revenues, Expenses and Changes in Net Position 25 Statement of Cash Flows 26
Fiduciary Funds:

Statement of Net Position 27
Statement of Changes in Net Position 28
Notes to Financial Statements 29 - 58
Required Supplementary Information:

Schedule of Changes in the City’s Net OPEB Liability and Related Ratios 59 - 60 Schedule of OPEB Plan Contributions 61
Schedule of Proportionate Share of the Net Pension liability 62 Schedule of Pension Plan Contributions 63
Major Governmental Funds:

Budgetary Comparison Schedules:

General Fund 64
ARPA 65
Miscellaneous Grants 66
Notes to Required Supplementary Information 67
Supplementary Information:

Other Governmental Funds: 68 - 69
Combining Balance Sheet 70 - 73
Combining Statement of Revenues, Expenditures and Changes in Fund Balances 74 - 77 Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual:

Gas Tax Fund 78
Measure M Fund 79
Prop. C Transportation Fund 80
City of La Puente
Annual Comprehensive Financial Report
Year Ended June 30, 2023
TABLE OF CONTENTS - Continued
PAGE
Supplementary Information - Continued:

PEG Access Fund 81
State COPS Fund 82
JAG Grant Fund 83
Cal-HOME Grant Fund 84
CDBG Grant Fund 85
Air Quality Improvement Fund 86
Measure R Fund 87
Prop. A Transportation Fund 88
Housing Fund 89
Measure A Fund 90
Measure W Fund 91
LLMD Fund 92
HSIP Grant Fund 93
Capital Projects Fund 94
2019A Measure M Capital Projects Fund 95
2019B Measure R Capital Projects Fund 96
Citywide Debt Service Fund 97
2019A Measure M Debt Service Fund 98
2019B Measure R Debt Service Fund 99
III. STATISTICAL SECTION
Description of Statistical Section Contents 100
Financial Trends:

Net Position by Component - Last Ten Fiscal Years 101 - 102 Changes in Net Position - Last Ten Years 103 - 106
Government Activities Tax Revenue by Source - Last Ten Years 107 Fund Balances of Governmental Funds - Last Ten Fiscal Years 108 - 109 Changes in Fund Balances of Governmental Funds - Last Ten Fiscal Years 110 - 111 Revenue Capacity:

Assessed Value of Taxable Property by Use - Last Ten Fiscal Years 112 Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years 113 Principal Property Tax Payers (Top Ten) - Current Year and Nine Years Ago 114 Property Tax Levies and Collections - Last Ten Fiscal Years 115 Debt Capacity:

Ratios of Outstanding Debt by Type - Last Ten Fiscal Years 116 Direct and Overlapping Debt 117
Legal Debt Margin Information - Last Ten Fiscal Years 118 - 119 Demographic and Economic Information:

Demographic and Economic Statistics 120
Principal Employers - Current Year and Nine Years Ago 121 - 122 Operating Information:

Full-time Equivalent City Employees by Function - Last Ten Fiscal Years 123 - 124 Operating Indicators by Function - Last Ten Calendar Years 125 - 126 Capital Asset Statistics by Function - Last Ten Fiscal Years 127

INTRODUCTORY SECTION

December 18, 2023
Honorable Mayor and City Council
City of La Puente, California

INTRODUCTION
The City of La Puente’s Annual Comprehensive Financial Report for the fiscal year ended June 30, 2023 is transmitted herewith in compliance with State law and the relevant requirements of Governmental Accounting, Auditing and Financial Reporting published by the Governmental Finance Officers Association (“GFOA”) of the United States and Canada. The information contained in this report offers a comprehensive scope of information which can be utilized by a large segment of the community, and is presented in a manner which will enable each reader to better understand all of the City's financial activities. Responsibility for both the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures, rests with the Finance Department.

The financial statements are the responsibility of the City of La Puente’s management.

Consequently, management assumes full responsibility for the completeness and reliability of the information presented in this report. To provide a reasonable basis for making these representations, management of the City of La Puente has established a comprehensive internal control framework that is designed both to protect the government assets from loss, theft, or misuse, and to compile sufficient reliable information for the preparation of the financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) and the pronouncements of the Governmental Accounting Standards Board (“GASB”).

Because the cost of internal controls should not outweigh their benefits, the City’s comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements are free from material misstatement. As management, we assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material respects.

The City’s financial statements have been audited by the independent certified public accounting firm of Van Lant & Fankhanel, LLP, Certified Public Accountants. The goal of the independent audit was to provide reasonable assurance that the financial statements of the City for fiscal year ended June 30, 2023, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts City of La Puente
15900 E. Main Street, La Puente, CA 91744-4719 Telephone (626) 855-1500 www.lapuente.org i
and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. The auditors have issued an unmodified (“clean”) opinion on these financial statements. The auditors’ report is located at the front of the financial section of this report.

GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). In addition, the MD&A is intended to disclose any known significant events or decisions that affect the financial condition of the City. This letter of transmittal is designed to complement MD&A and should be read in conjunction with it. The City’s MD&A can be found immediately following the report of the independent auditors. The Statistical Section includes selected financial, demographic and other relevant information.

The financial statements present the financial condition of the City of La Puente (the primary government) and its component unit, La Puente Public Financing Authority. The financial reporting entity consists of: (1) the City, (2) organizations for which the City is financially accountable, and (3) organizations for which the nature and significance of their relationship with the City are such that exclusion would cause the City’s financial statements to be misleading or incomplete.

PROFILE OF THE CITY OF LA PUENTE
The City of La Puente (“City”) is located 20 miles east of downtown Los Angeles in the San Gabriel Valley. The community of La Puente is predominantly residential and home to nearly 40,000 residents. Commercial land usage is located primarily along major highways/arterials and industrial land usage is less than five percent (5%) of the City's 3.5 square mile land area. Freeway access to the City is readily available from Interstate 10 and the 60 Freeway.

The City is a general law city, incorporated on August 1, 1956; however, the history of the community extends back much further. The City’s original name "Puente" means bridge in Spanish and refers to an early bridge built across the San Jose Creek by members of the Portola-Serra expedition in 1769, as they surveyed the region for Spain. A modernized version of the bridge can be seen in the City’s colorful seal. The community of La Puente began in 1841 when European settlers arrived by wagon train from New Mexico and obtained title to the large 49,000-acre Rancho La Puente. During the 1930's, the area was famous for its fruit and walnut groves. The largest walnut packing plant in the world was located in what would become the City.

The City operates under a council-manager form of government. Policy-making and legislative authority are vested in a governing City Council consisting of five council members one of which is elected by the council to a one-year term as mayor and one as mayor pro-tem. The governing council is responsible, among other things, for passing ordinances, adopting the budget, appointing committees and hiring both the City Manager and a contract City Attorney. The City Manager is responsible for carrying out the policies and ordinances of the City Council, for overseeing the day-to-day operations and for appointing heads of departments.
ii
The City is a contract city and as such contracts for many of its services. These include law enforcement services, building and safety services, engineering, road maintenance and landscape maintenance. Law enforcement services are provided by the Los Angeles County Sheriff’s Department.

The Los Angeles County Fire District provides fire protection. The County also provides library services through a Library District, as well as sewer and sanitation services through a Sanitation District and public health services through a health center in the City. Funds for district services are collected through property tax bills and are disbursed directly by the Los Angeles County Tax Collector’s Office.

Water services for the City are provided by La Puente Valley County Water District, San Gabriel Valley Water Company and Suburban Water Systems. Refuse collection is provided through a franchise agreement with a private waste collection company. There are seventeen public and private schools serving the City's residents. Public schools are operated by the Hacienda La Puente Unified School District.

The City provides a number of in-house programs and functions including: City Clerk’s Office, Development Services, Administrative Services, Recreation Services, and Public Safety (Code Enforcement, Parking Enforcement, and Animal Control). The City also operates various facilities to serve the community. These include a Community Center, Youth Learning Activity Center, Senior Center, La Puente Park and Grace F. Napolitano Nature Education Center.

BUDGETARY CONTROLS
The annual budget serves as the foundation for the City’s financial planning and control.

Each year, a proposed budget is submitted to the City Council and several public meetings are conducted to obtain taxpayer comments. The budget is subsequently adopted by the Council through the passage of a resolution. All annual appropriations lapse at fiscal yearend. Certain multi-year project appropriations are re-budgeted by the City Council as part of the adoption process of the subsequent year’s budget. The level of budgetary control is maintained at the fund level.

LOCAL ECONOMY AND ECONOMIC OUTLOOK
In the shifting landscape of COVID-19 recovery, several economic phenomena remain relevant. The first of these is inflation, as measured using the Consumer Price Index (CPI). Inflation represents the increase in cost for everyday goods and services. Although inflation has declined and appears to continue a downward trajectory, prices in June 2023 remained 2.5% higher than they were 12-months prior in the local area (source: Bureau of Labor Statistics). Inflationary conditions can place pressure on the City’s budget by allowing the agency to obtain less resources for the same expenditure outlay.

Additionally, local constituents facing increased prices for necessities including food, housing, and childcare may turn to the City for assistance, further straining budgetary resources.
iii
An unexpected challenge that has arisen from macroeconomic circumstances is the decline in sales and transaction tax revenues throughout FY 2022/2023. Both Sales and Use Tax and Measure LP Tax (the City’s 0.5 cent district add-on tax) fell short of their respective budgets for the fiscal year. Although this appears concerning at first glance, a further analysis would indicate that this is likely a return to pre-pandemic baseline activity levels in the retail sector. During FY 2020/2021 and FY 2021/2022, sales tax collections were temporarily boosted by an increase in online shopping driven by stay-at-home restrictions. In the case of internet-based purchases, a greater share of the tax revenue remains in the home jurisdiction, benefiting La Puente. The loss in sales tax revenue was made up for by healthy returns from Property Tax, highlighting the need for flexibility and diversity within the City’s revenue portfolio. Staff will continue to closely monitor these conditions as time progresses.

Interest rates remained high throughout the fiscal year, favoring lenders over borrowers.

This could create an unfavorable environment in the near term if the City were to have a need to issue debt. Through a combination of strategic budgeting and strong fund balances, the City is currently able to meet all its obligations, including capital planning needs, without the need for additional debt financing.

MAJOR INITIATIVES AND ACCOMPLISHMENTS
The Capital Improvement Program (CIP) continued to be the focal point of the City’s efforts throughout FY 2022/2023. The City Council has long maintained a steadfast commitment to improving the physical infrastructure of the local area, and this period was no exception. One of the largest projects to be carried forward into the fiscal year was the Energy Efficiency Project. Upgrades consisted of green retrofits to existing City facilities, including major roofing repairs, the addition of solar panels on buildings, the replacement of plumbing and lighting fixtures with energy efficient models, and the construction of a solar panel carport at the Community Center. Financed through the Series 2022A Certificates of Participation (COPs), over $1.2 million was drawn down during FY 2022/2023.

The majority of work on the La Puente Park Master Plan was concluded during the fiscal year. Over $3.3 million was outlaid for capital improvements as part of the specified grant with the California Dept. of Parks and Recreation, including the completion of restroom renovations, lighting, trees, grass and plants, playgrounds, athletic facilities, and security technology. A small portion of grant funding remains going into the next fiscal year and will be slated for winding down construction work. In addition to the specified grant sponsored by Senator Susan Rubio, almost $500,000 in capital expenditures for the park were made from the General Fund and other sources.

In an effort to expand services to the public, the City acquired a parcel of land at the intersection of Valley Blvd. and Old Valley Blvd., in the southeast corner. This parcel, purchased from a private party in Spring of 2023, is planned for future use as a community park, animal shelter, and clinic. The acquisition cost was funded by a onetime transfer from the General Fund in the amount of approximately $526,000. Design and development are expected to commence on this project in 2024.

During FY 2022/2023, the City established its Youth Workforce Development Program.

Funded by a $3.6 million grant award from the Office of the Governor as part of the iv
California Volunteers initiative, the goal of the program is to offer meaningful employment opportunities to young people between the ages of 18 and 30. Individuals within the La Puente program are assigned to part-time positions in various occupational fields, including public works, maintenance, parks and recreation, foodservice, and information technology. In addition, youth participants are offered social support services and access to additional training and certifications. Over fifty (50) local community members have been employed through the 1-year program to date. $731,620 in grant funds were expended during fiscal year 2022/2023, and the expenditure is housed within the Miscellaneous Grants fund. This program is expected to continue into FY 2023/2024, with the remaining $2.868 million planned for exhaustion in that period.

Looking ahead at the FY 2023/2024 Budget and Capital Improvement Program, a renewed emphasis is placed on roadway projects, specifically targeted at making City streets safer for residents, business owners, and visitors. Over $5.6 million has been appropriated for a variety of resurfacing work, with funding sources such as Series 2019A and B bond funds, SB1/RMRA, Measure M, Measure R, and Prop C.

LONG-TERM FINANCIAL PLANNING
The unassigned fund balance in the General Fund is $20.8 million or 109% of General Fund expenditures and transfers out, and total General Fund balances equal $30.7 million.

The City adopted a balanced budget policy in Fiscal Year 2015-2016 which requires a General Fund reserve of 25% of budgeted expenditures, a $1.0 million emergency reserve and a $1.0 million economic uncertainty reserve. The current reserve amount falls within the management budget guidelines as approved by the City Council for planning purposes.

GFOA CERTIFICATE OF ACHIEVEMENT
The GFOA awarded a Certificate of Achievement for Excellence in Financial Reporting to the City for its Annual Comprehensive Financial Report for the fiscal year ended June 30, 2022. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of State and local government financial reports. In order to receive the award, a government has to publish an easily readable and efficiently organized Annual Comprehensive Financial Report that satisfied both GAAP and applicable legal requirements. The awards are valid for a period of one year only. The City believes that the current Annual Comprehensive Financial Report continues to meet program requirements and the City will submit it to the GFOA to determine its eligibility for another award.
v

CITY OF LA PUENTE, CALIFORNIA

ELECTED OFFICIALS - CITY COUNCIL
Gabriel Quiñones, Mayor
Charlie Klinakis, Mayor Pro Tem
Valerie Muñoz, Council Member
David Argudo, Council Member
Nadia Mendoza, Council Member

CITY OFFICIALS
City Manager ............................................................................................................... Bob Lindsey City Attorney ................................................................... Olivarez Madruga Law Organization LLP City Clerk ........................................................................................................ Martha Torres, MPA Director of Administrative Services/City Treasurer ........................................... Troy Grunklee, CPA Director of Development Services ............................................................................. John Di Mario Director of Community Services…………………………………………………….……..Alex Bauman Finance Manager .................................................................................... Alexander Merkel Medina vii
- - - - -
- - -
City Council
Director of
Administrative
Services
Principal
Accountant
Communications
/Information
Technology
Analyst
Finance
Manager
Accounting
Assistants
Management
Analyst
Accounting
Technician I/II
Director of
Development
Services
Assistant City
Engineer
City Engineer
(Willdan)
Building &
Safety
(Willdan) Senior
Planner
Assistant
Planner
Administrative
Assistant
Maintenance
Superintendent
Maintenance
Supervisor
Maintenance
Lead (FT)
Maintenance
Assistant (PT)
Maintenance
Worker
(FT/PT)
Park
Maintenance
Worker (FT) Rehabilitation
Grant Specialist
Chief of Police
(LACSD
Lieutenant)
SAO Team
(LACSD)
Sheriff
Deputies
(LACSD)
Code
Enforcement
Manager
Code
Enforcement
Supervisor
Code
Enforcement
Officer (PT)
Parking
Control
Officer (PT)
Office
Specialist
(P/T)
Sergeant
(LACSD)
Director of
Community
Services
Community
Services
Supervisor
Community
Services
Coordinator
Community
Services
Specialist
(FT/PT)
Community
Services
Leader (PT)
Community
Engagement
Supervisor (FT)
City Clerk
Office
Specialist (PT)
City Attorney City Manager
Management
Assistant
viii
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of La Puente
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2022
Executive Director/CEO
ix

FINANCIAL SECTION
Independent Auditor’s Report
The Honorable City Council
City of La Puente, California
Report on the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of La Puente (City), as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of La Puente, as of June 30, 2023, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

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

Responsibilities of Management for the Financial Statements 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, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to error or fraud.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

1 Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement when it exists.

The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

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

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, and other required supplementary information, as listed in the table of contents, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
2 Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The accompanying combining statements and the budget schedules, as listed in the table of contents, are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining statements, as listed in the table of contents, are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

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

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

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued a report dated December 18, 2023, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters.

The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.

December 18, 2023
3 City of La Puente
Management Discussion and Analysis
June 30, 2023

MANAGEMENT'S DISCUSSION AND ANALYSIS
Our discussion and analysis of the City of La Puente’s financial performance provides a narrative overview and analysis of the financial activities of the City of La Puente (City) for the fiscal year ended June 30, 2023. Our analysis includes information regarding the City’s overall financial position and results of operations to assist users in evaluating the City’s financial position, a discussion of significant changes that occurred in funds, and information regarding significant budget variances. In addition, it describes the activities during the year for capital assets and long-term debt. We end our discussion and analysis with a description of currently known facts, decisions, and conditions that are expected to have a significant effect on the financial position or results of operations. Readers are encouraged to consider the information presented here in conjunction with additional information furnished in the letter of transmittal, which can be found on page i of this report and the City’s basic financial statements, which begin on page 17 of this report.

FINANCIAL HIGHLIGHTS
Government-wide
 The City’s assets and deferred outflows of resources exceeded its liabilities and deferred inflows of resources at the close of the fiscal year by $94,563,028 (net position). Of this, $29,962,886 is in unrestricted funds that may be used to meet the City’s ongoing obligations to citizens and creditors.
 The City’s total net position increased by $7,694,481 from the previous fiscal year.  Citywide revenues were $39,455,010. Total revenues are composed of $17,445,025 in general revenue dollars, $3,853,568 in charges for services, $8,256,074 in operating grants and contributions, and $9,900,343 in capital grants and contributions.  Citywide expenses were $31,760,529 with public safety being the largest functional area at $9,716,603 or approximately 31% of the total expenses.

Fund level
 The total fund balance for all governmental funds was $41,066,795 at the close of the fiscal year. Of that amount, $9,888,130 is nonspendable and $12,318,131 is restricted and not available for spending. The remaining $18,860,534 is unassigned. Additional information on the fund balances for all governmental funds is on page 20 of this report.  General Fund net change in fund balance increased by $4,587,350 for the fiscal year ended June 30, 2023.
 Governmental fund balances increased by $7,367,119 during fiscal year 2022-2023.

OVERVIEW OF THE BASIC FINANCIAL STATEMENTS
The Basic 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 are comprised of three components as follows:

Government-wide financial statements. The government-wide financial statements are comprised of the Statement of Net Position and Statement of Activities. These two statements are designed to provide readers with a broad overview of the City’ s finances utilizing the full accrual method of accounting, in a manner similar to a private-sector business. Under the full accrual method of accounting, transactions are reported as soon as the underlying events occur, regardless of the timing of related cash flows.
4 City of La Puente
Management Discussion and Analysis
June 30, 2023
Statement of Net Position. This report presents information on all the City’s assets and deferred outflows of resources and liabilities and deferred inflows of resources, including capital assets and long-term liabilities, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City as a whole is improving or deteriorating.

Statement of Activities. The information presented in this report shows how the City's net position changed during the most recent fiscal year. Functional activities are highlighted in this statement, whereby direct and indirect functional expenses are shown net of related program revenue. This statement shows the extent to which various functions depend on general taxes and non-program revenues for support.

Both of these government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (referred to as governmental activities), from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (referred to as business-type activities). The governmental activities of the City include general government, public safety, public works, recreation/senior services, and community development. Program revenues finance approximately one-third of these activities and general revenues finance the difference.

The Government-wide Financial Statements can be found on pages 17 to 19 of this report.

Fund financial statements. The fund financial statements focus on current available resources and report the City’s operations in more detail for the City’s most significant funds. Each fund is defined as a fiscal and accounting entity with a self-balancing set of accounts established for the purpose of carrying on specific activities or attaining certain objectives in accordance with authorities or legal mandates, restrictions or limitations. All of the funds of the City can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds.

Governmental funds. These statements focus on the near-term inflows and outflows of spendable resources, as well as on balances of spendable resources at the end of the fiscal year. Such information provides a short-term view of the City's general government operations and show whether there are more or fewer financial resources that can be spent in the near future to finance the City's programs. These funds are reported using the modified accrual method of accounting, which measures cash and all other financial assets that can readily be converted to cash. The relationship between governmental activities and the governmental funds are reported on the Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position page of the Government-wide Financial Statements.

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 City’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The City maintains twenty-five individual governmental funds for financial reporting purposes.

Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the General Fund, Miscellaneous Grants Fund, and American Rescue Plan Act (ARPA) Fund, which are considered to be major funds. Data from the remaining governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements elsewhere in this report.

The City adopts an annual appropriated budget for its general fund, special revenue funds and capital projects fund. A budgetary comparison statement has been provided for the General Fund to demonstrate compliance with this budget.
5 City of La Puente
Management Discussion and Analysis
June 30, 2023
The governmental fund financial statements can be found on pages 20 to 23 of this report.

Proprietary fund. The City maintains two different types of proprietary funds. The enterprise fund is used to report the same functions presented as business-type activities in the government-wide financial statements. The City’s enterprise fund accounts for sewer construction and maintenance operations. The City’s internal service funds account for equipment and maintenance services for the computer systems as well as vehicles owned by the City.

Fiduciary funds. These funds are used to account for resources held for the benefit of parties outside the government. They are not reflected in the government-wide financial statements because the resources of these funds are not available to support the City's own programs. The accounting used for fiduciary funds is much like that used for proprietary funds.

The fiduciary fund financial statements can be found on page 27 and 28 of this report.

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

The notes are on pages 29 to 58 of this report.

In addition to the basic financial statements and notes, this report contains other supplementary information.

GOVERNMENT-WIDE FINANCIAL ANALYSIS
Governmental Activities
This analysis focuses on the net position and changes in net position of the City’s governmental activities which are presented in the government-wide financial statements.

Table 1
Net Position - Governmental Activities

2023 2022 Change % Change

Current and Other Assets $ 54,930,727 $ 54,019,643 $ 911,084 1.69% Capital Assets 56,192,213 51,488,010 4,704,203 9.14%
Total Assets 111,122,940 105,507,653 5,615,287 5.32%

Deferred Outflows of Resources 6,333,142 5,937,889 395,253 6.66%

Other Liabilities 6,181,685 8,325,889 (2,144,204) -25.75% Long-term Liabilities 22,056,070 19,862,070 2,194,000 11.05% Total Liabilities 28,237,755 28,187,959 49,796 0.18%

Deferred Inflows of Resources 3,410,592 4,781,830 (1,371,238) -28.68%

Net Position:

Net investment in capital assets 45,311,834 42,488,052 2,823,782 6.65% Restricted 10,533,015 9,294,007 1,239,008 13.33%
Unrestricted 29,962,886 26,693,694 3,269,192 12.25%
Total Net Position $ 85,807,735 $ 78,475,753 $ 7,331,982 9.34% 6 City of La Puente
Management Discussion and Analysis
June 30, 2023
Net position may serve over time as a useful indicator of the City’s financial position. The City's governmental assets exceeded its liabilities by $85,807,735 at the close of the fiscal year, an increase of $7,331,982 or 9.34% from the previous year. The primary reasons for the increase in net position are as follows:
 Current and Other Assets increased by $911,084 or 1.69%. This is strongly associated with increases in General Revenues as follows:
o Property Tax increased by $505,633 from the previous fiscal year o Investment Income increased by $1,423,633 although this was mostly due to the GASB market value adjustment.
 Capital Assets increased by $4,704,203 or 9.14% primarily due to completion of significant portions of the La Puente Park Master Plan.
 Other Liabilities show a reduction of $2,144,204 or 25.75% from FY 2021/2022 due in large part to a substantial decrease in Unearned Revenue related to the collection of grant and one-time special revenue funds.
 Deferred Inflows of Resources decreased by $1,371,238 or 28.68% year-over-year, contributing to the increase in net position. This is primarily related to pensions and other post-employment benefits (OPEB).

The largest portion of the City’s net position is net investment in capital assets (land, construction in progress, buildings and improvements, equipment/furniture, and infrastructure) valued at $45,311,834 (53% of total net position), less any related debt outstanding used to acquire those assets. The City uses these capital assets to provide services to citizens. The capital assets are not available for future spending. Resources needed to repay the related debt outstanding must be provided from other sources because the capital assets cannot be used to liquidate these liabilities.

A portion of net position, $10,533,015 or 12%, represents resources that are subject to external restrictions on how they may be used (shown as “restricted” in Table 1). The remaining balance of $29,962,886, or 35%, is unrestricted. This amount includes $9,697,366 which represents the advances for the loans between the former Redevelopment Agency and the City and is not in spendable form. The remaining amount is $20,265,520 and may be used to meet the City’s ongoing obligations to citizens and creditors.

7 City of La Puente
Management Discussion and Analysis
June 30, 2023
Table 2
The City’s net position increased by $7,331,982 for governmental activities during the fiscal year because of revenues being greater than expenses. The total cost of all City governmental activities was $30,750,492 for the fiscal year. Net gain of all governmental activities was $7,331,982.

Total revenues increased by $6,352,638 year-over-year primarily due to the increase in property taxes, franchise taxes, investment income, and operating grants and contributions.

2023 2022 Change % Change

Revenues
Program Revenues:

Charges for Services $ 2,504,353 $ 1,962,983 $ 541,370 27.58% Operating Grants and Contributions 8,256,074 3,117,742 5,138,332 164.81% Capital Grants and Contributions 9,900,343 10,241,303 (340,960) -3.33% General Revenues:

Taxes:

Property Taxes 8,587,483 8,081,850 505,633 6.26%
Franchise Taxes 1,230,870 1,113,913 116,957 10.50%
Sales and Use Taxes 7,016,290 7,452,307 (436,017) -5.85% Property Transfer Taxes 68,608 101,229 (32,621) -32.22% Transient Occupancy Taxes 273,649 282,519 (8,870) -3.14% Other Taxes 168,172 173,166 (4,994) -2.88%
Investment Income

(49,336) (1,472,969) 1,423,633 96.65%
Transfers - 635,839 (635,839) 100.00%
Other revenues 125,968 39,954 86,014 215.28%
Total revenues 38,082,474 31,729,836 6,352,638 20.02%

Expenses
General Government 4,207,043 1,332,903 2,874,140 215.63% Public Safety 9,716,603 9,408,249 308,354 3.28%
Public Works 3,950,448 2,215,979 1,734,469 78.27%
Recreation/Senior Services 4,269,848 2,504,741 1,765,107 70.47% Community Development 8,077,736 4,904,341 3,173,395 64.71% Interest on Long-Term Debt 528,814 553,899 (25,085) -4.53% Total expenses 30,750,492 20,920,112 9,830,380 46.99%

Increase (decrease) in net assets 7,331,982 10,809,724 (3,477,742) -32.17%

Net position, beginning 78,475,753 67,666,029 10,809,724 15.98% Net position, ending $ 85,807,735 $ 78,475,753 $ 7,331,982 9.34% 8 City of La Puente
Management Discussion and Analysis
June 30, 2023
Revenue Sources:

The revenue sources from governmental activities presented in Table 2 are illustrated in Figure 1 below to show the percentage relationship of these revenues to each other, as well as their impact on the City's total resources.

Figure 1
Revenues by Source – Governmental Activities
As shown in Figure 1, over 45% of the City's total governmental revenues are from taxes, which are primarily comprised of property, sales and use, transient occupancy, and franchise taxes.

Program revenues totaled 54% of the total resources and investment income and miscellaneous income amounted to 0.2% of the total governmental revenues for the year. This makeup has not changed significantly from the previous fiscal year.

Expense and Program Revenues:

The City's expenses in connection with its governmental activities are categorized by function, namely general government, public safety, public works, recreation/senior services, and community development. The program revenues associated with these governmental activities are classified into three categories which are charges for services, operating grants and contributions, and capital grants and contributions.

Charges for Services

6.6%
Operating Grants and
Contributions

21.7%
Capital Grants and
Contributions

26.0%
Property Taxes

22.5%
Franchise Taxes

3.2%
Sales and Use Taxes

18.4%
Property Transfer
Taxes

0.2%
Transient Occupancy
Taxes

0.7%
Other Taxes

0.4%
Investment Income
-0.1% Other revenues

0.3%
9 City of La Puente
Management Discussion and Analysis
June 30, 2023
Governmental activities increased the City’s net position by $7,331,982. Key elements of this increase are as follows:
 Property Tax increased by $505,633 – around 6.26% - driven by an increase in assessed values throughout the period.
 Operating Grants and Contributions increased by 164.81% or $5,138,332, primarily due to revenues received from external government sources, including the federal American Rescue Plan Act (ARPA) and state grants related to youth workforce development.  Charges for Services shows a 27.58% increase year-over-year, due to strong activity levels in the Community Development function.
 Investment income increased by $1,423,633 due to the GASB fair market value adjustment.

This figure contributes to the increase in net position, although the amount is unrealized within the City’s portfolio.
 Capital Grants and Contributions, although demonstrating a decrease of (3.33)%, remains a strong program revenue with $9,900,343 recognized in FY 2022/2023. This is largely due to state grant funding for the capital improvements at La Puente Park.

The relationship of the City’s program revenues with the related governmental functions is illustrated in Figure 2 below.

Public works and community development services are largely funded by program revenues. The general government, public safety, and recreation/senior services receive limited program revenue and are primarily funded with general revenues of the City. It is typical for governmental programs to be subsidized by General Fund revenues, as the program revenues are generally not adequate to finance the governmental programs.
10 City of La Puente
Management Discussion and Analysis
June 30, 2023
Figure 2
Expense and Program Revenues
Business-type Activities
The analysis of business-type activities focuses on the net position and changes in net position of the City’s sewer construction/maintenance functions which are presented in the governmentwide financial statements.

Table 3
Business-type Activities Net Position
2023 2022
Current and Other Assets $ 2,684,970 $ 2,352,773
Capital Assets 12,696,052 12,940,370
Total Assets 15,381,022 15,293,143

Deferred Amounts on Refunding 439,351 468,641
Total Deferred Outflows of Resources 439,351 468,641

Other Liabilities 470,080 398,990
Long-term Liabilities Outstanding 6,595,000 6,970,000
Total Liabilities 7,065,080 7.368,990

Net Position:

Net investment in capital assets 6,165,403 6,074,011
Unrestricted 2,589,890 2,318,783
Total net position $ 8,755,293 $ 8,392,794
(4,000,000)
(2,000,000)
‐
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
General
Government
Public Safety Public Works Recreation/Senior
Services
Community
Development
Program Revenues Expenses
11 City of La Puente
Management Discussion and Analysis
June 30, 2023
Table 4
Business-type Activities Change in Net Position
2023 2022
Revenues
Charges for services $ 1,349,215 $ 1,323,815
Investment & Other Income 23,321 18,680
Total revenues 1,372,536 1,342,495

Expenses
Sewer assessment 772,070 600,924
Other expenses 237,967 884,379
Total expenses 1,010,037 1,485,303

Excess of revenues over expenses 362,499 (142,808)

Change in net position 362,499 (142,808)

Net position, beginning 8,392,794 8,535,602
Net position, ending $ 8,755,293 $ 8,392,794
The net position of the City’s business-type activities increased by $362,499. As shown in Table 3, “Current and Other Assets” reflects an increase of $332,197. The increase is primarily due to a reduction in outlays, as capital projects from prior years reach completion, and more cash is held.

The City’s business-type program revenues exceeded expenses by $362,499 as shown in Table

4. This is due in large part to strong revenue streams in the form of Charges for Services, which reflect the two (2) annual fees that property owners within the City’s jurisdiction pay to connect to the City’s sanitary sewer. Expenses within the fund are also managed conservatively. The City’s sewer utility is its only business-type activity.

FINANCIAL ANALYSIS OF THE CITY’S MAJOR FUNDS
Governmental Funds – Fund Level
The City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Focusing on financial resources, the City’s Governmental Funds provide information on near-term inflows and outflows, and balances of spendable resources. This information is useful in assessing the City’s ability to meet financial requirements. In particular, unreserved fund balance may serve as a useful measure of government net resources available for spending at the end of the fiscal year.
 Fund Balance – As of June 30, 2023, the City’s Governmental Funds reported a combined fund balance of $41,066,795 which increased by $7,367,119 from the prior year fund balance.
 Fund Balance Classification
 The City has $9,888,130 in non-spendable fund balance as of June 30, 2023. Nonspendable fund balance includes amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be 12 City of La Puente
Management Discussion and Analysis
June 30, 2023
maintained intact. Examples are inventories, prepaid expenses, long-term receivables, or land held for resale.
 Restricted fund balance amounted to $12,318,131 at June 30, 2023. Restricted fund balance includes resources that are subject to externally enforceable legal restrictions.
 The General Fund has unassigned fund balance of $20,796,132. Unassigned fund balance is the residual classification for the City’s General Fund and includes all spendable amounts not contained in the other classifications.

Major activities in the Governmental Funds in the current fiscal year include the following:
 General Fund – The General Fund ended the year with a $30,665,841 fund balance, an increase of $4,587,350 from the previous year.  General Fund revenues exceeded budgeted revenues by $502,839. The largest category supporting this surplus was Licenses and Permits, with a positive budget variance of $348,339. This can be attributed to strong construction and commercial activity within city limits throughout the period. All General Fund revenue categories ended the year exceeding their budgeted figures, with the exception of Investment Income. This is not unusual, given the GASB requirement for mark-to-market reporting of unrealized gains and losses.

 General Fund expenditures were $997,704 less than budgeted amounts. This favorable budget variance was driven by savings in Public Safety, due to staffing vacancies in the Special Assignment Officer (SAO) team. Public Works and Community Development were the only General Fund functions to incur costs in excess of their respective budgets.
 American Rescue Plan Act (ARPA) revenues were $7,449,493 in contrast with budget of $4,738,200 – a positive variance of $2,711,293. This was due entirely to the fact that a large portion of the FY 2021/2022 tranche was recorded as unearned revenue in the prior period and carried forward to be recognized as revenue in FY 2022/2023.

Ultimately, the majority of this fund was transferred to the General Fund to reimburse eligible expenditures. The small amount remaining was combined with the General Fund for the purposes of financial reporting, leaving a year end fund balance of $0.  The Miscellaneous Grants Fund had a negative ending fund balance of $(1,906,446).

This fund is comprised of several state grants. One of the grants, through the California Dept. of Parks and Recreation, is for capital improvements at La Puente Park. The other, from the Office of the Governor, funds youth workforce development efforts. The grant agreements require that the City outlay the initial cash for purchases of eligible goods and services, and later apply for state reimbursement.

The City expects to receive the related cash in the next fiscal period, remedying the negative fund balance.

CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets
The City’s investment in capital assets, net of accumulated depreciation, for governmental and business-type activities as of June 30, 2023 is $68,888,265. Capital assets, net of accumulated depreciation, include land, construction in progress, buildings and improvements, equipment, 13 City of La Puente
Management Discussion and Analysis
June 30, 2023
vehicles, furniture, fixtures, and computer software and hardware. Infrastructure assets are reported at cost, where historical records are available and at estimated cost where no historical records exist.

The net increase (additions minus deletions) in capital assets for the fiscal year was $4,459,885 due to additions including the acquisition of land and the completion of road improvements and park projects. Additional information on the City’s capital assets can be found in Note 5 of the financial statements. Table 5 shows a summary of changes in capital assets (net of depreciation) as of June 30, 2023.

Table 5
Capital Assets
14 City of La Puente
Management Discussion and Analysis
June 30, 2023
Debt Administration
In November 2007 the City issued the 2007 Sewer Revenue Bonds for $10,260,000. The City refinanced the bonds in August 2016 (2016 Sewer Refunding Bonds) to take advantage of lower interest rates. The refunding of the 2007 Sewer Revenue Bonds resulted in an annual savings of approximately $62,000 in debt service payments through 2037. The debt service payment on the bonds will be made by the sewer fees collected from the City residents on their property tax bills.

In October 2015, the City signed an agreement with the City of Industry for a $5,952,908 loan to be used for Valley Boulevard improvements. To date, the City has received $1,422,945 of the loan proceeds. The loan has a term of 30 years at a simple interest rate of .33% (the LAIF interest rate at the time of signing). Payments on the loan were to be in the amount of $208,741.57 annually and will be made from annual Measure R funds received by the City, however during the 2018-19 fiscal year; the City will not draw on any additional funds on this loan.

A new amortization schedule was developed and approved by the City of Industry in October 2019 and the new annual payment will be $53,287.

In November 2019, the City issued Series 2019A and Series 2019B Bonds, the proceeds of which were $3,910,000 and $3,470,000, respectively. The purpose of this debt issuance is to finance deferred capital costs related to street resurfacing throughout the City. The annual debt service, including principal and interest, is funded by Measure R and Measure M Local Return revenues received from the Los Angeles County Metropolitan Transportation Authority. Interest rates on this debt range from 2.75% to 4.00%, with semiannual payments from $125,000 to $225,000 over the next twenty years.

In 2020, the City issued Series 2020A Pension Obligation Bonds, raising $8,517,708 in certificates of participation. The proceeds were disbursed to the California Public Employees Retirement System (CalPERS) for liquidation of the City’s Unfunded Actuarial Liability (UAL) and Other Post Employment Benefit (OPEB) liabilities. This action allows the City to save thousands of dollars over the next several decades and take advantage of favorable interest rates. Payments will be made twice per year until 2039 at a rate of 3.05%. Total debt service will amount to $10,888,092.

In January of 2022, the City issued Series 2022A Certificates of Participation (COPs). This is a private-placement debt with an interest rate of 2.310% payable through 2039. $3,758,856 was raised for the purpose of funding energy efficient capital improvements at various City facilities.

Annual principal and interest payments are financed by the General Fund.

Additional information on the City’s long–term debt can be found in Note 6 to the financial statements.

GENERAL FUND BUDGETARY ANALYSIS
The revenue budget for fiscal year 2022-2023 was $18,183,000. Actual General Fund revenues were higher than the final budgeted revenues by $502,839 for a total of $18,685,839. Several factors played into this variance with budgeted projections. Taxes were $137,908 higher than projected due to the property tax received being higher than anticipated. The positive results in this category offset tepid collections in sales and use taxes. Licenses and Permits, Intergovernmental, Charges for Services, Fines and Forfeitures, and Other Revenue also registered higher than budget. The only category to display a negative budgetary variance was Investment Income at $(569,878). This was caused by the fair value adjustment, required under GASB standards. This is not a realized loss, and only represents the potential consequences if the City were to liquidate its entire investment portfolio under current market conditions.

Expenditure appropriations were adopted in the amount of $18,610,200, of which $640,000 was slated for capital expenditures and the remainder for the operating budget. Factoring out the transfers, General Fund expenditures were $997,704 less than budgeted appropriations. Fund balance increased by $4,587,350 over the course of the fiscal year, for an ending fund balance at June 30th of $30,665,841.
15 City of La Puente
Management Discussion and Analysis
June 30, 2023

NEXT YEAR'S BUDGET AND ECONOMIC FACTORS
Looking into the next fiscal year, the City continues to emphasize priorities including public safety, health and wellness programs, and infrastructure improvements. The City of La Puente strives to facilitate a community in which residents and visitors can travel, recreate, and conduct business in a modern and aspirational environment. Capital projects related to the repair and resurfacing of public roadways will continue to be an area of focus. The FY 2023/2024 Budget and Capital Improvement Program provides an appropriation of over $5.3 million for an ambitious street rehabilitation project. The intention of this project is to resurface the pavement on dozens of local streets that have fallen into disrepair, improving safety, comfort, and aesthetic considerations.

This project is financed through a matrix of local return funds from the Metropolitan Transportation Authority, Series 2019 A and B bond proceeds, and Road Maintenance and Rehabilitation Act (SB1) funds.

As the La Puente Park Master Plan draws to a conclusion, a shift in focus has occurred towards maintaining the new facilities in optimal working condition for the use of residents. As such, $187,600 has been budgeted across three funds for park maintenance and repair in the new fiscal year. Public Safety is another crucial component of maintaining the cleanliness and safety of the park. Additional resources have been budgeted for park safety to ensure that everyone that visits the park has an enjoyable experience.

The community wellness services identified by the City Council are also a major area of importance moving forward. Priorities include direct aid to local businesses, rehabilitation of substandard housing units for elderly and low-income residents, and services for unhoused and unemployed individuals.

Throughout the global economy, inflation and rising interest rates spell price increases for a wide variety of goods and services, in addition to challenges related to labor shortages. Management will continue to closely monitor these matters as the new fiscal year unfolds and will be proactive in understanding the implications for the expenditure budget. The City’s strong fund balances and established revenue sources are expected to serve as an anchor for its financial position in light of future challenges.

REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of the City of La Puente's finances for all those interested in them. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the City's Finance Department, at 15900 E. Main Street, La Puente, California, 91744. 16 BASIC FINANCIAL STATEMENTS
City of La Puente
Statement of Net Position
June 30, 2023
Governmental Business-type
Activities Activities Total
ASSETS
Cash and Investments $ 30,359,747 $ 2,660,209 $ 33,019,956 Cash and Investments with Fiscal Agent 1,131,124 1,131,124 - Accounts Receivable 366,248 - 366,248
Interest Receivable 6,091,602 6,091,602 -
Loans Receivable 1,169,863 1,169,863 -
Lease Receivable 173,725 - 173,725
Due From Other Governments 5,210,112 24,761 5,234,873
Prepaid Items 207,838 - 207,838
Advance to Successor Agency, Net 9,697,366 9,697,366 -
Restricted Cash 523,102 - 523,102
Capital Assets, Not Depreciated 10,511,012 10,511,012 - Capital Assets, Depreciated, Net 45,681,201 12,696,052 58,377,253 Total Assets 111,122,940 15,381,022 126,503,962

DEFERRED OUTFLOWS OF RESOURCES
Deferred Amounts on Refunding - 439,351 439,351
Deferred Outflows Related to Pensions 5,477,470 5,477,470 - Deferred Outflows Related to OPEB 855,672 - 855,672
Total Deferred Outflows of Resources 6,333,142 439,351 6,772,493

LIABILITIES
Accounts Payable and Accrued Liabilities 4,133,347 78,062 4,211,409 Interest Payable 100,382 17,018 117,400
Unearned Revenues 54,940 - 54,940
Due to Other Agencies 407,194 - 407,194
Deposits 523,102 - 523,102
Long-Term Liabilities
Due Within One Year 962,720 375,000 1,337,720
Due in More Than One Year 22,056,070 6,595,000 28,651,070 Total Liabilities 28,237,755 7,065,080 35,302,835

DEFERRED INFLOWS OF RESOURCES
Deferred Inflows Related to Pensions 2,770,381 2,770,381 - Deferred Inflows Related to OPEB 466,486 - 466,486
Lease Related 173,725 - 173,725
Total Deferred Inflows of Resources 3,410,592 3,410,592 -

NET POSITION
Net Investment in Capital Assets 45,311,834 6,165,403 51,477,237 Restricted for:

Street Projects 5,757,889 5,757,889 -
Public Works 2,225,714 2,225,714 -
Housing 1,904,728 1,904,728 -
Community Development 644,684 - 644,684
Sewer Operations 2,589,890 - 2,589,890
Unrestricted 29,962,886 29,962,886 -
Total Net Position $ 85,807,735 $ 8,755,293 $ 94,563,028 The accompanying notes are an integral part of this statement. 17 City of La Puente
Statement of Activities
Year Ended June 30, 2023
Charges Operating Capital
for Grants and Grants and
Expenses Services Contributions Contributions
Governmental Activities:

General Government 4,207,043 $ 199,444 $ 7,449,493 $ - $ Public Safety 9,716,603 639,619 298,561 16,599
Public Works 3,950,448 58,951 - 4,270,470
Recreation/Senior Services 4,269,848 181,058 161,754 (2,419,293) Community Development 8,077,736 1,425,281 346,266 8,032,567 Interest Expense 528,814 - - -
Total Governmental Activities 30,750,492 2,504,353 8,256,074 9,900,343 Business-type Activities:

Sewer Assessment 1,010,037 1,349,215 - -
Total Business-type Activities 1,010,037 1,349,215 - -
Total Primary Government 31,760,529 $ 3,853,568 $ 8,256,074 $ 9,900,343 $ General Revenues:

Taxes:

Property Taxes
Franchise Taxes
Sales Taxes
Property Transfer Tax
Transient Occupancy Tax
Business License Taxes
Investment Income
Other
Total General Revenues
Change in Net Position
Net Position - Beginning of Year
Net Position - End of Year
Functions/Programs
Program Revenues
The accompanying notes are an integral part of this statement. 18 Governmental Business-type
Activities Activities Total
$ - 3,441,894 $ 3,441,894 $
- (8,761,824) (8,761,824)
- 378,973 378,973
- (6,346,329) (6,346,329)
- 1,726,378 1,726,378
- (528,814) (528,814)
- (10,089,722) (10,089,722)
339,178 - 339,178
339,178 - 339,178
339,178 (10,089,722) (9,750,544)
- 8,587,483 8,587,483
- 1,230,870 1,230,870
- 7,016,290 7,016,290
- 68,608 68,608
- 273,649 273,649
- 168,172 168,172
23,321 (49,336) (26,015)
- 125,968 125,968
23,321 17,421,704 17,445,025
362,499 7,331,982 7,694,481
8,392,794 78,475,753 86,868,547
$ 8,755,293 85,807,735 $ 94,563,028 $
Net (Expense) Revenue and Changes in Net Position
19 City of La Puente
Balance Sheet
Governmental Funds
June 30, 2023
Other
General Miscellaneous Governmental
Fund ARPA Grants Funds Total
ASSETS
Cash and Investments 18,832,424 $ - $ - $ 10,872,344 $ 29,704,768 $ Cash with Fiscal Agent - - - 1,131,124 1,131,124
Accounts Receivable 307,635 - 40,000 18,613 366,248
Interest Receivable 6,091,602 - - - 6,091,602
Loans Receivable - - - 1,169,863 1,169,863
Lease Receivable 173,725 - - - 173,725
Due from Other Governments 1,523,116 - 3,319,800 367,196 5,210,112 Due from Other Funds 2,725,623 - - - 2,725,623
Restricted Cash 523,102 - - - 523,102
Prepaid Items 172,343 - - 18,421 190,764
Advances to Successor Agency 9,697,366 - - - 9,697,366
Total Assets 40,046,936 $ - $ 3,359,800 $ 13,577,561 $ 56,984,297 $

LIABILITIES
Accounts Payable and Accrued Liabilities 2,667,576 $ - 652,393 $ 775,636 $ 4,095,605 $ Due to Other Agencies - - - 407,194 407,194
Unearned Revenue 54,940 - - - 54,940
Deposits 523,102 - - - 523,102
Due to Other Funds - - 2,666,438 59,185 2,725,623
Total Liabilities 3,245,618 - 3,318,831 1,242,015 7,806,464

DEFERRED INFLOWS OF RESOURCES
Unavailable Revenues - Interest 5,961,752 - - 5,961,752 - Unavailable Revenues - Grants - 1,947,415 - 28,146 1,975,561 Lease Related 173,725 - - 173,725 -
Total Deferred Inflows of Resources 6,135,477 1,947,415 28,146 8,111,038 -

FUND BALANCES
Nonspendable 9,869,709 - - 18,421 9,888,130
Restricted - - 12,318,131 12,318,131 -
Unassigned 20,796,132 (1,906,446) - (29,152) 18,860,534 Total Fund Balances 30,665,841 (1,906,446) - 12,307,400 41,066,795 Total Liabilities, Deferred Inflows of
Resources, and Fund Balances $ 40,046,936 $ 3,359,800 - $ $ 13,577,561 $ 56,984,297 The accompanying notes are an integral part of this statement. 20 City of La Puente
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position
June 30, 2023
Fund Balances for Governmental Funds $ 41,066,795
Amounts reported for Governmental Activities in the Statement of Net Position are different because:

Capital assets used in governmental activitites, net of depreciation, are not financial resources and, therefore, are not reported in the funds.

Capital Assets 92,937,629
Accumulated Depreciation (38,329,133)
Long-term liabilities applicable to the City's governmental activities are not due and payable in the current period and accordingly are not reported as fund liabilities.

All liabilities, both current and long-term, are reported in the Statement of Net Position. Balances at June 30, 2023 are:

City of Industry Loan Agreement (1,227,615)
2019A Sales Tax Revenue Bonds (3,280,000)
2019B Sales Tax Revenue Bonds (2,915,000)
Premium on Bonds (362,419)
2020A Certificates of Participation (7,791,933)
2022A Certificates of Participation (3,713,856)
Compensated Absences (347,782)
Net Pension (Liability)/Asset related to the City's Pension plan is not reported in the governmental funds (2,708,922)
Net OPEB (Liability)/Asset related to the City's other postemployment benefits is not reported in the governmental funds (158,650)
Interest expenditures are recognized when due, and therefore, interest payable is not recorded in the governmental funds. (100,382)
Long-term receivables are not available to pay for current period expenditures and, therefore, are report as unavailable revenue in the funds. 7,937,313 Amounts for deferred inflows and deferred outflows related to the City's Net Pension Liability and Net OPEB Liability are not reported in the funds.

Deferred Outflows Related to Pensions 5,477,470
Deferred Inflows Related to Pensions (2,770,381)
Deferred Outflows Related to OPEB 855,672
Deferred Inflows Related to OPEB (466,486)
The internal service fund is used by management to charge the costs of equipment purchases to individual funds. The assets and liabilities of the internal service fund are included in governmental activities in the Statement of Net Position. 1,705,415 Net Position of Governmental Activities $ 85,807,735
The accompanying notes are an integral part of this statement. 21 City of La Puente
Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds
Year Ended June 30, 2023
Other
General Miscellaneous Governmental
Fund ARPA Grants Funds Total

REVENUES
Taxes 16,243,908 $ - $ - $ $ 17, 996,193 $ 240,101
Licenses and Permits 968,739 - - - 968,739
Intergovernmental 361,644 7, 6, 449,493 6, 571,985 20, 289,096 672,218 Charges for Services 897,939 - - 1, 106,865 004,804
Fines and Forfeitures 530,934 - - - 530,934
Investment Income ( - 369,878) - 93,555 (276,323)
Other Revenue 52,553 - - 56,420 108,973
Total Revenues 18,685,839 7,449,493 6,571,985 7,542,129 40,249,446

EXPENDITURES
Current:

General Government 2,872,917 - - 19,942 2,892,859
Public Safety 9,540,508 - - 9, 176,095 716,603
Public Works 592,506 - - 1, 2, 564,325 156,831
Recreation/Senior Services 1,903,282 - - - 1,903,282
Community Development 2,322,884 2, 051,089 2, 731,619 7, 360,958 466,550 Capital Outlay 380,399 3, 242,271 3, 406,741 7, 132,404 161,815 Debt Service:

Interest and Fiscal Charges - - - 564,150 564,150
Principal - - - 731,176 731,176
Total Expenditures 17,612,496 2,293,360 4,138,360 8,549,050 32,593,266 Excess of Revenues Over (Under)
Expenditures 1,073,343 5,156,133 2,433,625 (1,006,921) 7,656,180

OTHER FINANCING SOURCES (USES)
Transfers In 4,867,072 - 1, - 919,972 6,787,044
Transfers Out (1,353,065) (5,156,133) ( - 566,907) (7,076,105) Issuance of Debt - - - - -
Total Other Financing Sources (Uses) 3,514,007 (5,156,133) 1, - 353,065 (289,061) Net Change in Fund Balances 4,587,350 2, - 433,625 346,144 7,367,119 Fund Balances, Beginning of Year 26,078,491 (4, - 340,071) 11,961,256 33,699,676 Fund Balances, End of Year $ 30,665,841 (1, - $ 906,446) $ 12,307,400 $ 41,066,795 The accompanying notes are an integral part of this statement. 22 City of La Puente
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities Year Ended June 30, 2023
Net Change in Fund Balances - Total Governmental Funds $ 7,367,119 Amounts reported for Governmental Activities in the Statement of Activities are different because:

Governmental funds report capital outlay as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over the estimated useful lives as depreciation expense. This the amount by which capital outlays exceeded depreciation in the current period and also the net effect of various miscellaneous transactions involving capital assets (i.e., sales and donations):

Capital Expenditures 6,601,193
Depreciation Expense (2,330,620)
Loss on Disposal (740)
The issuance of long-term debt provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. These amounts are the net effect of these differences in the treatment of long-term debt and related items:

Principal Payments 731,176
Premium on Bonds 22,651
Some expenses reported in the Statement of Activities do not require the use of current financial resources and therefore are not reported as expenditures in the governmental funds:

Compensated Absences 106,531
Net Pension Liability (3,959,709)
Net OPEB Liability (843,963)
Amounts for deferred inflows and deferred outflows related to the City's Net Pension Liability and Net OPEB Liability are not reported in the funds. This is the net change in deferred inflows and outflows related to the net pension liability and net OPEB liability:

Deferred Outflows Related to Pensions (40,024)
Deferred Inflows Related to Pensions 900,663
Deferred Outflows Related to OPEB 435,277
Deferred Inflows Related to OPEB 444,958
Some revenues reported in the Statement of Activities are not considered to be available to finance current expenditures and therefore are not reported as revenues in the governmental funds. (2,166,972)
Accrued interest on bonds is not recorded in the governmental funds. This is the net change in accrued interest for the period. 12,685
The change in net position of the internal service fund is reported with governmental activities. 51,757
Change in Net Position of Governmental Activities $ 7,331,982 The accompanying notes are an integral part of this statement. 23 City of La Puente
Statement of Net Position
Proprietary Funds
June 30, 2023
Business-type Governmental
Activities- Activities -
Enterprise Fund Internal Service
Sewer Assessment Fund
ASSETS
Current Assets:

Cash and Investments 2,660,209 $ 654,979 $
Due from Other Governments 24,761 -
Prepaid Expenses - 17,074
Total Current Assets 2,684,970 672,053
Noncurrent Assets:

Capital Assets, Being Depreciated:

Sewer Collection Systems 14,659,082 -
Vehicles - 1,575,100
Furniture and Equipment - 440,827
Intangible Right-to-Use Assets - 587,977
Less: Accumulated Depreciation (1,963,030) (1,020,187)
Total Noncurrent Assets 12,696,052 1,583,717
Total Assets 15,381,022 2,255,770

DEFERRED OUTFLOWS OF RESOURCES
Deferred Amounts on Refunding 439,351 -

LIABILITIES
Current Liabilities:

Accounts Payable and Accrued Liabilities 78,062 37,742
Interest Payable 17,018 -
Leases Payable - Current - 103,634
Bonds Payable - Current 375,000 -
Total Current Liabilities 470,080 141,376
Noncurrent Liabilities:

Leases Payable - 408,979
Bonds Payable 6,595,000 -
Total Noncurrent Liabilities 6,595,000 408,979
Total Liabilities 7,065,080 550,355

NET POSITION
Net Investment In Capital Assets 6,165,403 1,071,104
Unrestricted 2,589,890 634,311
Total Net Position 8,755,293 $ 1,705,415 $
The accompanying notes are an integral part of this statement. 24 City of La Puente
Statement of Revenues, Expenses, and Changes in Net Position Proprietary Funds
Year Ended June 30, 2023
Business-type Governmental
Activities- Activities -
Enterprise Fund Internal Service
Sewer Assessment Fund

OPERATING REVENUES
Charges for Services 1,349,215 $ 515,100 $
Total Operating Revenues 1,349,215 515,100

OPERATING EXPENSES
Other General Expenses 527,752 500,106
Depreciation 244,318 245,257
Total Operating Expenses 772,070 745,363
Operating Income (Loss) 577,145 (230,263)

NONOPERATING REVENUES
(EXPENSES)
Loss on Disposal - (3,840)
Interest Income 23,321 5,281
Interest Expense (237,967) (8,482)
Total Nonoperating Revenues
(Expenses) (214,646) (7,041)

OTHER FINANCING SOURCES (USES)
Transfers In 289,061 -
Total Financing Sources (Uses) - 289,061
Change in Net Position 362,499 51,757
Net Position, Beginning of Year 8,392,794 1,653,658
Net Position, End of Year 8,755,293 $ 1,705,415 $
The accompanying notes are an integral part of this statement. 25 City of La Puente
Statement of Cash Flows
Proprietary Funds
Year Ended June 30, 2023
Business-type Governmental
Activities- Activities -
Enterprise Fund Internal Service
Sewer Assessment Funds

CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from Customers and Users 1,356,556 $ $ 518,504 Payments to Suppliers and Contractors (465,770) (486,216) Net Cash Provided (Used) by Operating Activities 32,288 890,786

CASH FLOWS FROM NONCAPITAL AND RELATED

FINANCING ACTIVITIES
Cash Received From Other Funds - 289,061
Net Cash Provided (Used) by Noncapital and Related
Financing Activities - 289,061

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Payments for Purchase of Property and Equipment - (264,794) Proceeds from Sale of Capital Assets - 37,308
Principal Paid on Long-term Debt (365,000) (60,591)
Interest Paid (209,569) (8,482)
Net Cash Provided (Used) by Capital and Related
Financing Activities (574,569) (296,559)

ACTIVITIES
Interest Received 23,321 5,281
Net Increase (Decrease) in Cash and Cash Equivalents 30,071 339,538 Cash and Cash Equivalents - Beginning of Year 625,108 2,320,671 Cash and Cash Equivalents - End of Year $ 655,179 2,660,209 $ Reconciliation of Operating Income (Loss) to Net Cash
Provided (Used) by Operating Activities:

Operating Income (Loss) 577,145 $ $ (230,263)
Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities:

Depreciation 244,318 245,257
Changes in Assets and Liabilities:
(Increase) Decrease in Due from Other Governments 3,404 7,341 (Increase) Decrease in Prepaid Expenses (9,370) -
Increase (Decrease) in Accounts Payable 23,260 61,982
TOTAL CASH PROVIDED BY OPERATING ACTIVITIES $ 890,786 $ 32,288 Schedule of Non-cash Capital and Related Financing Activities Amortization of Deferred Amounts on Refunding 29,290 $ - $ Acquisition of Lease Assets - 455,781
The accompanying notes are an integral part of this statement. 26 City of La Puente
Statement of Net Position
Fiduciary Funds
June 30, 2023
Succesor Agency
Private-Purpose
Trust Fund
ASSETS
Cash and Investments 607,865 $
Cash with Fiscal Agent 137,771
Total Assets 745,636

LIABILITIES
Accounts Payable 7,500
Interest Payable 51,566
Advances from the City 15,659,118
Bonds Payable 2,845,000
Total Liabilities 18,563,184

NET POSITION
Held in Trust for Successor Agency (17,817,548) $
The accompanying notes are an integral part of this statement. 27 City of La Puente
Statement of Changes in Net Position
Fiduciary Funds
Year Ended June 30, 2023
Succesor Agency
Private-Purpose
Trust Fund

ADDITIONS
Taxes $ 664,442
Interest Income 4,737
Total Additions 669,179

DEDUCTIONS
Administration and Pass-throughs 2,975
Interest on Advance from City 15,000
Interest on Bonds 512,123
Total Deductions 530,098
Change in Net Position 139,081
Net Position - Beginning of Year (17,956,629)
Net Position - End of Year (17,817,548) $
The accompanying notes are an integral part of this statement. 28 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A) Description of Reporting Entity
The City of La Puente was incorporated August 1, 1956 under the general laws of the State of California, and enjoys all the rights and privileges pertaining to “General Law” Cities. It is governed by a five-member council.

The accompanying financial statements present the City of La Puente and its component units, entities for which the City is considered to be financially accountable. Blended component units, although legally separate entities, are, in substance, part of the City’s operations. Discretely presented component units, if any, are reported in a separate column in the government-wide financial statements (see note below for description) to emphasize that they are legally separate from the City. There are no discretely presented component units presented in these financial statements.

Blended Component Units
The City of La Puente Public Financing Authority is a Joint Exercise of Powers Authority organized and existing under and by virtue of the Joint Exercise of Power Act of the Government Code of the State of California. The City and the former Community Development Commission formed the Authority by the execution of a Joint Exercise of Powers Agreement. The primary purpose of the Authority is to issue bonds and make loans to the City and former Community Development Commission. The City appoints the voting majority of the board and is able to impose its will on this component unit. There are no separate financial statements prepared for the Authority.

B) Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the Statement of Net Position and the Statement of Activities) report information about the reporting government as a whole, except for its fiduciary activities. 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. Likewise, the primary government (including its blended component units) is reported separately from discretely presented component units for which the primary government is financially accountable. The City has no discretely presented component units.

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 expenses that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items that are properly not included among program revenues are reported instead as general revenues.

The underlying accounting system of the City is organized and operated on the basis of separate funds, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled.
29 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued C) Measurement Focus, Basis of Accounting, and Financial Statement Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund financial statements. Under the economic resources measurement focus, all assets and liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Under the accrual basis of accounting, revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. 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. Operating expenses for proprietary 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.

Nonexchange transactions, in which the City gives (or receives) value without directly receiving (or giving) equal value in exchange include property taxes, grants, entitlements, and donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year which the taxes are levied. Revenue from grants, entitlements, and donations is recognized in the fiscal year in which all the eligibility requirements have been satisfied.

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.

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 both collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they are collected within 60 days of the end of the current period, except for certain grants which are considered available if collected within 7 months after year-end. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, and claims and judgments, are recorded only when payment is due. General capital asset acquisitions are reported as expenditures in governmental funds. Issuance of long-term debt and acquisitions under capital leases are reported as other financing sources.

Property taxes, sales taxes, franchise taxes, licenses, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. Expenditure-driven grants are recognized as revenue when the qualifying expenditures have been incurred and all other eligibility requirements have been met, and the amount is received during the period or within the availability period for this revenue source. All other revenue items are considered to be measurable and available only when cash is received by the government.

The proprietary and private-purpose trust funds are reported using the economic resources measurement focus and the accrual basis of accounting. The agency fund has no measurement focus but utilizes the accrual basis of accounting for reporting its assets and liabilities.

30 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued Fund Classifications
The funds designated as major funds are determined by a mathematical calculation consistent with GASB Statement No. 34, as amended. The City reports the following major governmental funds:

The General Fund is the City's primary operating fund and accounts for all financial resources of the general government, except those required to be accounted for in another fund.

The ARPA Fund is used to account for one-time federal funding source encouraging economic growth and community development post COVID-19.

The Miscellaneous Grant Fund is used to account for various grants restricted for specific projects and operations.

The City reports the following major enterprise funds:

The Sewer Assessment Fund is used to account for the repair and maintenance of the City's sewer system.

The City also reports the following fund types:

The Internal Service Fund is used to account for the replacement of City owned and operated vehicles, furniture and equipment, except for vans used in transit operations. The costs are accumulated in this fund and allocated as interfund user charges to other City departments.

The Successor Agency Private-Purpose Trust Fund accounts for the activities of the former La Puente Community Development Commission.

As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. Direct expenses have not been eliminated from the functional categories; indirect expenses and internal payments have been eliminated.

D) Cash and Cash Equivalents
For purposes of the statement of cash flows, cash equivalents are defined as short-term, highly liquid investments that are both readily convertible to known amounts of cash or so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Cash equivalents also represent the proprietary funds’ share in the cash and investment pool of the City of La Puente. Cash equivalents have an original maturity date of three months or less from the date of purchase.

E) Investments
Investments are reported in the accompanying financial statements at fair value (which represents the quoted or stated market value), except for nonparticipating certificates of deposit and investment contracts that would be reported at cost because they are not transferable and they have terms that are not affected by changes in market interest rates.

Changes in fair value that occur during a fiscal year are recognized as investment income reported for that fiscal year. Investment income includes interest earnings, changes in fair value, and any gains or losses realized upon the liquidation, maturity, or sale of investments.

31 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued The City pools cash and investments of all funds. Each fund’s share in this pool is displayed in the accompanying financial statements as cash and investments. The City pools cash from all funds in order to increase income earned through its investment program. Investment income from pooled investments is allocated to those funds which are required by law or administrative action to receive interest. Investment income is allocated on a quarterly basis based on the weighted average cash balance in each fund.

F) Capital Assets
Capital assets, which include land, structures, equipment, and infrastructure assets, are reported in the government-wide and proprietary fund financial statements. Capital assets are recorded at cost where historical records are available and at an estimated historical cost where no historical records exist. Assets purchased in excess of $5,000 are capitalized if they have an expected useful life of 2 years or more.

Infrastructure is capitalized if cost is in excess of $50,000 and it has an expected useful life of 2 years or more.

The cost of normal maintenance and repairs that do not add to the value of the asset’s lives are not capitalized.

Major capital outlay for capital assets and improvements are capitalized as projects are constructed. For debt-financed capital assets in proprietary funds, interest incurred during the construction phase is reflected in the capitalization value of the asset constructed, net of interest earned on the invested proceeds over the same period. Capital assets acquired through lease obligations are valued at the present value of future lease payments at the date acquired. Donated capital assets received prior to the implementation of GASB Statement No. 72 were recorded at fair value on the date of donation. Donated capital assets received subsequent to the implementation of GASB 72 are recorded at acquisition value as of the date received.

Capital assets used in operations are depreciated over their estimated useful lives using the straight-line method in the government-wide financial statements and in the fund financial statements of the proprietary funds. Depreciation is charged as an expense against operations and accumulated depreciation is reported on the respective statement of net position. The ranges of lives used for depreciation purposes for each capital asset class are as follows:

Buildings and Improvements 15 - 40 years
Equipment and Furniture 5 - 10 years
Infrastructure 20 - 60 years
G) Compensated Absences
In accordance with GASB Statement No. 101, a liability is recorded for unused vacation and similar compensatory leave balances since the employees’ entitlement to these balances is attributable to services already rendered, the leave accumulates, and the leave is more likely than not to be used for time off or otherwise paid in cash or settled through noncash means.

Accumulated sick leave lapses when employees leave the employ of the City and, upon separation from service, no monetary obligation exists.

H) Claims and Judgments
When it is probable that a claim liability has been incurred at year-end, and the amount of the loss can be reasonably estimated, the City records the estimated loss, net of any insurance coverage under its selfinsurance program. For governmental funds, if claims will not be liquidated from currently available resources, they are recorded only in the government-wide financial statements.

32 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued I) Receivables and Payables
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are 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).

As a no-low property tax City, the City is allocated the minimum amount (6.6%) required by law. The County bills and collects the property taxes and remits them to the City in installments during the year. City property tax revenues are recognized when levied provided that the revenue is collected during the year or within 60 days of year-end. Property taxes attach as an enforceable lien on property as of January 1. Taxes are levied on July 1, and are payable in two installments on November 1 and February 1. Such taxes become delinquent on December 10 and April 10, respectively.

J) Use of Estimates
The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures/expenses during the reporting period.

Actual results could differ from those estimates and assumptions.

K) Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position and balance sheet for the governmental funds will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents consumption of net assets that applies to future period(s) and so will not be recognized as an outflow of resources (expense) until then. The City reports deferred outflows relating to the Net Pension Liability and also the Net OPEB Liability. In addition, the City reports deferred outflows relating to the 2016 Revenue Refunding Bonds.

In addition to liabilities, the statement of financial position and balance sheet for the governmental funds will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The City has one item, which arises only under the modified accrual basis of accounting, and others relating to the Net Pension Liability and Net OPEB Liability, which qualify for reporting in this category. Under the modified accrual basis of accounting, the item, unavailable revenues, is reported in the governmental funds balance sheet. The governmental funds report unavailable revenues from property taxes, special assessments, grant receivables, and other miscellaneous receivables. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available.

L) Fund Equity
In the government-wide, proprietary funds, and fiduciary fund financial statements, net position is classified in the following categories.

33 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued Net Investment in Capital Assets
This category groups all capital assets, including infrastructure, 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 this category.

Restricted Net Position
This category presents external restrictions imposed by creditors, grantors, contributors, or laws and regulations of other governments and restrictions imposed by law through constitutional provisions or enabling legislation.

Unrestricted Net Position
This category represents the net position of the City that is not externally restricted for any project or other purpose.

M) Net Position Flow Assumption
Sometimes the City will fund outlays for a particular purpose from both restricted (e.g. restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted net position and unrestricted net position in the statement of net position, a flow assumption must be made about the order in which the resources are considered to be applied.

It is the City’s policy to consider restricted net position to have been depleted before unrestricted net position.

N) Fund Balances
Fund balances in governmental funds are reported in classifications that comprise a hierarchy based primarily on the extent to which the City is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. Sometimes the City will fund outlays for a particular purpose from both restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balance).

In order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements a flow assumption must be made about the order in which the resources are considered to be applied. It is the government’s policy to consider restricted fund balance to have been depleted before using any of the components of unrestricted fund balance.

Further, when the components of unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund balance is applied last.

Nonspendable - This classification includes amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact.

Restricted - This classification includes amounts that can be spent only for specific purposes stipulated by constitution, external resource providers or through enabling legislation.

34 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued Committed - This classification includes amounts that can be used only for the specific purposes determined by a formal action or resolution of the City’s highest level of decision-making authority (City Council).

Committed amounts cannot be used for any other purpose unless the City Council removes or changes the specific use through the same type of formal action or resolution taken to establish the commitment. The City has no committed fund balances.

Assigned - This classification consists of funds that are set aside for specific purposes by the City’s highest level of decision making authority or a body or official that has been given the authority to assign funds. The City Council delegates the authority to assign fund balance to the City Manager for purposes of reporting in the annual financial statements. The City has no assigned fund balances.

Unassigned - This classification includes the residual balance for the government's general fund and includes all spendable amounts not contained in other classifications. In other funds, the unassigned classification is used only to report a deficit balance resulting from overspending for specific purposes for which amounts had been restricted, committed or assigned.

O) Leases
Lessee: The City is a lessee for noncancellable leases of equipment. The City recognizes a lease liability and an intangible right-to-use lease asset (lease asset) in the government-wide financial statements and the internal service fund. The City recognizes lease liabilities with an initial, individual value of $5,000 or more.

At the commencement of a lease, the City initially measures the lease liability at the present value of payments expected to be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The lease asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus certain initial direct costs.

Subsequently, the lease asset is amortized on a straight-line basis over its useful life.

Key estimates and judgments related to leases include how the City determines (1) the discount rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease payments. • The City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for leases.
• The lease term includes the noncancellable period of the lease. Lease payments included in the measurement of the lease liability are composed of fixed payments and purchase option price that the City is reasonably certain to exercise.

The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the lease liability. Lease assets are reported with other capital assets and lease liabilities are reported with long-term debt on the statement of net position.

35 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued Lessor: The City is a lessor for a noncancellable lease of certain property for communications facilities. The City recognizes a lease receivable and a deferred inflow of resources in the government-wide and governmental fund financial statements. At the commencement of a lease, the City initially measures the lease receivable at the present value of payments expected to be received during the lease term.

Subsequently, the lease receivable is reduced by the principal portion of lease payments received. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date. Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease term.

Key estimates and judgments include how the City determines (1) the discount rate it uses to discount the expected lease receipts to present value, (2) lease term, and (3) lease receipts. • The City uses its estimated incremental borrowing rate as the discount rate for leases. • The lease term includes the noncancellable period of the lease. Lease receipts included in the measurement of the lease receivable is composed of fixed payments from the lessee.

The City monitors changes in circumstances that would require a remeasurement of its lease, and will remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the lease receivable.

The lease of the property for communications facilities is for eight years and the City will receive monthly payments of approximately $3,500. The City recognized $37,965 in lease revenue, including interest revenue during the current fiscal year related to this lease. As of June 30, 2023, the City’s receivable for lease payments was $173,725. Also, the City has a deferred inflow of resources associated with this lease that will be recognized as revenue over the lease term. As of June 30, 2023, the balance of the deferred inflow of resources was $173,725.

Q) Pensions

For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City of La Puente’s California Public Employees’ Retirement System (CalPERS) plan (Plan) and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by CalPERS.

For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.

R) Other Postemployment Benefits (OPEB)
For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s plan (OPEB Plan) and additions to/deductions from the OPEB Plan’s fiduciary net position have been determined on the same basis.

36 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value. Generally accepted accounting principles require that the reported results must pertain to liability and asset information within curtained defined timeframes. For this report, the following timeframes are used:

Valuation Date June 30, 2021
Measurement Date June 30, 2022
Measurement Period July 1, 2021 to June 30, 2022
2) CASH AND INVESTMENTS
Cash and investments at June 30, 2023 are summarized as follows:

Investments Authorized by the California Government Code and the City’s Investment Policy The table below identifies the investment types that are authorized for the City by the City's investment policy. 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.

Statement of Net Position:

Cash and Investments 33,019,956 $
Cash and Investments with Fiscal Agent 1,131,124
Restricted Cash and Investments 523,102
Statement of Fiduciary Net Position:

Cash and Investments 607,865
Cash and Investments with Fiscal Agent 137,771
Total Cash and Investments 35,419,818 $
Petty Cash 2,200 $
Deposits with Financial Institutions 1,293,300
Investments 34,124,318
Total Cash and Investments $ 35,419,818
Maximum Maximum
Authorized Maximum Allowable Investment
Investment Type Maturity Investment In One Issuer
U.S. Treasury Obligations 5 years None None
U.S. Agency Securities 5 years None None
Banker's Acceptances 180 days 15% 2%
Bank Deposits N/A $1,000,000 None
Medium Term Notes 5 years 30% 5%
Negotiable Certificates of Deposit 5 years 30% $250,000 Certificates of Deposit 5 years 30% $250,000
Local Agency Obligations 5 years 30% None
Money Market Funds N/A 15% 5%
Local Agency Investment Fund (LAIF) N/A None $65,000,000 37 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
2) CASH AND INVESTMENTS - Continued
Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment.

Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the City manages its exposure to this risk is by purchasing a combination of shorter-term and longer-term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity over time as necessary to provide the cash flow and liquidity needed for operations. Information about the sensitivity of the fair values of the City’s investments to market interest rate fluctuations is provided by the following table that shows the distribution of the City’s investments by maturity:

Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer 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. Presented below is the minimum rating required by (where applicable) the California Government Code or the City's investment policy and the actual rating as of year-end for each investment type.

Remaining Maturity (in Months)
12 Months 13 to 24 25-60
Investment Type or Less Months Months Fair Value
US Treasury Obligations 991,540 $ 228,272 $ 2,253,985 $ 3,473,797 $ Federal Farm Credit Bank 241,890 921,635 2,938,283 4,101,808 Federal Home Loan Bank - 809,712 6,235,845 7,045,557
Federal Home Loan Mortgage Corp - 469,743 1,438,610 1,908,353 Federal National Mortgage Assoc. - 229,055 1,809,901 2,038,956 Local Agency Obligations - 212,837 - 212,837
Negotiable Certificates of Deposit - 1,398,573 8,598,164 9,996,737 LAIF 3,835,780 - - 3,835,780
Medium Term Notes - 241,598 - 241,598
Held by Fiscal Agent:

Money Market Mutual Funds 1,268,895 - - 1,268,895
Total 6,338,105 $ 4,511,425 $ 23,274,788 $ 34,124,318 $ Rating as of Year End
Total Minimum
Investment Type Investment Legal Rating AAA/AA A and A-1 Unrated US Treasury Obligations 3,473,797 $ 3,473,797 $ - $ - $ Federal Farm Credit Bank 4,101,808 N/A 4,101,808 - -
Federal Home Loan Bank 7,045,557 N/A 7,045,557 - -
Federal Home Loan Mortgage Corp 1,908,353 N/A 1,908,353 - - Federal National Mortgage Assoc. 2,038,956 N/A 2,038,956 - - Local Agency Obligations 212,837 A 212,837 - -
Negotiable Certificates of Deposit 9,996,737 N/A - - 9,996,737 LAIF 3,835,780 N/A - - 3,835,780
Medium Term Notes 241,598 A - 241,598 -
Held by Bond Trustee:

Money Market Mutual Fund 1,268,895 N/A 1,268,895 - -
Total 34,124,318 $ 20,050,203 $ 241,598 $ 13,832,517 $
38 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
2) CASH AND INVESTMENTS - Continued
Concentration of Credit Risk
At June 30, 2023, the City had no investments in any one issuer (other than LAIF) that represent 5% or more of total City investments, except for investments in federal agency securities.

Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The California Government Code and the City’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits, other than the following provision for deposits: The California Government Code requires that a financial institution secure deposits made by state or local government units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the governmental unit). The fair value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the public agencies.

California law also allows financial institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits.

As of June 30, 2023, no deposits with financial institutions in excess of federal depository insurance limits were held in uncollateralized accounts.

The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., brokerdealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code and the City’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for investments. With respect to investments, custodial credit risk generally applies only to direct investments in marketable securities.

Custodial credit risk does not apply to a local government’s indirect investment in securities through the use of mutual funds or government investment pools (such as LAIF). As of June 30, 2023, none of the City’s investments were held by the broker-dealer (counterparty) that was used by the City to purchase the securities.

Fair Value
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 has the following recurring fair value measurements as of June 30, 2023:
 US Treasury Obligations of $3,473,797 are valued using a matrix pricing model (Level 2 inputs).  Federal Agency securities of $15,094,674 are valued using a matrix pricing model (Level 2 inputs).  Local Agency Obligations of $212,837 are valued using a matrix pricing model (Level 2 inputs).  Negotiable Certificates of Deposit of $9,996,737 are valued using a matrix pricing model (Level 2 inputs).  Corporate Bonds of $241,598 are valued using a matrix pricing model (Level 2 inputs). 39 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
2) CASH AND INVESTMENTS - Continued
Investment in State Investment Pool
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The fair value of the Entity’s investment in this pool is reported in the accompanying financial statements at amounts based on 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. Information regarding LAIF’s and the City’s exposure to risk (credit, market, or legal) is not currently available.
3) INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS
Amounts Due To and Due From Other Funds
As of June 30, 2023, the General Fund is reporting $2,725,623 as due from the other governmental funds. These outstanding balances between funds result from temporary borrowings to cover operating deficits.

Long-term Advances
As of June 30, 2023, the City’s General Fund had advanced to the former Community Development Commission (CDC) $15,659,118 (net of repayments), including interest receivable of $5,961,752, to assist in redevelopment activities. In June 2011, Assembly Bill 26 (1st extraordinary session) dissolved the former CDC, effective (after some litigation on the matter) February 1, 2012.

On April 26, 2013, the Department of Finance allowed the loan to be placed on the Recognized Obligation Payment Schedule (ROPS) as an enforceable obligation.

The principal balance of the receivable of $9,697,366 accrues simple interest of 4% based on the Last and Final ROPS, approved by the Department of Finance, at an interest rate of 4% throughout the remainder of the payment period. Repayment of the advance by the Successor Agency is contingent upon excess property taxes received by the Successor Agency after paying all other enforceable obligations.

The entire principal portion of the receivable is included in non-spendable fund balance in the General Fund and the accrued interest receivable is included in deferred inflows as unavailable revenue.

Transfers In and Transfers Out
During the 2022-23 fiscal year, the following interfund transfers were made:

Other Internal
General Governmental Service
Transfers Out Fund Funds Fund Total
General Fund - $ 1,353,065 $ - $ 1,353,065 $
ARPA 4,867,072 - 289,061 5,156,133
Other Governmental Funds - 566,907 - 566,907
Total 4,867,072 $ 1,919,972 $ 289,061 $ 7,076,105 $
Transfers In
40 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
3) INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS - Continued The General Fund transferred $1,353,065 to the Other Governmental Funds for the Housing Successor Fund Administration cost; debt service payments for the 2020A Certificates of Participation, 2022A Certificates of Participation, and other project costs. The Measure M and Measure R Funds transferred a total of $566,907 to the Capital Projects Fund and the Measure M and Measure R Debt Service Funds to pay loan and bond payments. The ARPA Special Revenue Fund transferred $4,867,072 to the General Fund for revenue loss as allowed by the grant and $289,061 to the Internal Service Funds for project costs. 4) LOANS RECEIVABLE
The City uses Housing and Community Development Block Grant and Cal-Home Grant funds to provide deferred payment housing rehabilitation loans to eligible applicants. Such loans are made to low- and moderate-income persons to improve or rehabilitate residences.

Loan repayments are deferred until homes are sold or change title. The City accounts for this program in the Special Revenue CDBG and Cal-Home Grant Funds. Rehabilitation loans receivable of $1,169,863 at June 30, 2023 have been reflected in the accompanying financial statements as loans receivable. 5) CAPITAL ASSETS
The following is a summary of changes in capital assets for the 2022-23 fiscal year:

Beginning Ending
Governmental Activities: Balance Additions Deletions Balance Capital Assets, Not Depreciated:

Land $ 3,621,179 $ 526,743 $ 4,147,922 - $
Construction in Progress 8,516,175 6,635,072 (8,788,157) 6,363,090 Total Capital Assets, Not Depreciated 12,137,354 7,161,815 (8,788,157) 10,511,012 Capital Assets Being Depreciated:

Buildings and Improvements 30,687,311 1,017,172 31,704,483 - Equipment and Furniture 3,128,767 1,506,447 (385,603) 4,249,611 Infrastructure 42,518,742 5,969,708 48,488,450 -
Intangible Right-to-use Assets 131,994 455,983 587,977 - Total Capital Assets, Depreciated 76,466,814 8,949,310 (385,603) 85,030,521 Less Accumulated Depreciation:

Buildings and Improvements (13,674,496) (1,482,636) (15,157,132) - Equipment and Furniture (1,761,237) (287,474) 342,715 (1,705,996) Infrastructure (21,665,854) (734,742) (22,400,596) -
Intangible Right-to-use Assets (14,571) (71,025) (85,596) - Total Accumulated Depreciation (37,116,158) (2,575,877) 342,715 (39,349,320) Net Capital Assets, Depreciated 39,350,656 6,373,433 (42,888) 45,681,201 Governmental Activities Capital Assets 51,488,010 $ $ 13,535,248 $ (8,831,045) $ 56,192,213 41 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
5) CAPITAL ASSETS - Continued
Depreciation expense was charged to functions/programs of the governmental activities as follows:
6) LONG-TERM LIABILITIES
The following is a summary of long-term liability transactions for the year ended June 30, 2023:

Beginning Ending
Business-type Activities: Balance Additions Deletions Balance Capital Assets Being Depreciated:

Sewer Collection System $ 14,659,082 $ - $ 14,659,082 - $ Total Capital Assets, Depreciated 14,659,082 - 14,659,082 - Less Accumulated Depreciation:

Sewer Collection System (1,718,712) (244,318) (1,963,030) - Net Capital Assets, Depreciated 12,940,370 (244,318) 12,696,052 - Business-type Activities Capital Assets $ 12,940,370 $ (244,318) $ 12,696,052 - $ General Government $ 42,709
Public Works 829,443
Recreation/Senior Services 1,436,105
Community Development 22,363
Capital Assets held by internal service funds are charged to the various functions based on usage of the assets 245,257 Total Depreciation Expense - Governmental Activities $ 2,575,877 Beginning Ending Due Within
Balance Additions Deletions Balance One Year
Governmental Activities:

Loan Payable from Direct Borrowing:

City of Industry Loan Agreement 1,276,689 $ $ 49,074 - $ $ 1,227,615 $ 49,236 Leases Payable 117,423 455,781 60,591 512,613 103,634
2019A Sales Tax Revenue Bonds 3,430,000 - 150,000 3,280,000 155,000 2019B Sales Tax Revenue Bonds 3,050,000 - 135,000 2,915,000 140,000 Premium on Bonds 385,070 22,651 - 362,419 -
2020A Certificates of Participation 8,144,035 - 352,102 7,791,933 374,850 2022A Certificates of Participation 3,758,856 45,000 - 3,713,856 140,000 Net Pension Liability/(Asset) (1,250,787) 3,959,709 2,708,922 - - Net OPEB Liability/(Asset) (685,313) 843,963 158,650 - - Compensated Absences 454,313 - 106,531 347,782 -
Total $ 18,680,286 $ 5,259,453 $ 920,949 $ 23,018,790 $ 962,720 Business-type Activities:

Bonds payable from Direct Borrowing:
2016 Sewer Refunding Bonds $ 7,335,000 $ - $ 365,000 $ 6,970,000 $ 375,000 Total $ 7,335,000 $ - $ 365,000 $ 6,970,000 $ 375,000
42 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
6) LONG-TERM LIABILITIES – Continued
City of Industry Loan Agreement
In October of 2015, the City entered into an agreement to borrow funds from the City of Industry to finance construction of a sound wall and other improvements on Valley Boulevard. The City of Industry has agreed to lend the City of La Puente up to $5,952,908 for these improvements, at a simple interest rate of .33%. As of June 30, 2019, the City had borrowed $1,422,945 on this loan, net of $378,818 in principal payments. The agreement provides for annual loan repayments of $208,742, commencing November 1, 2017. However, during the 2018-19 fiscal year, the City decided not to draw down any additional funds on this loan. A new amortization schedule was developed and approved by the City of Industry in October 2019. The following represents the future debt service requirements:

Leases Payable
The City has entered into five-year lease agreements for the use of various vehicles. The initial lease liability of all leases was $574,954. As of June 30, 2023, the value of the lease liability was $512,613. The leases have interest rates ranging from 3.9% to 5.2%. The vehicles have estimated 5-year lives. The value of the right-to-use assets at the end of the current fiscal year was $502,381. The following represents the future debt service requirements:

Fiscal Year Ending
June 30, Principal Interest Total
2024 $ 49,236 $ 4,051 $ 53,287
2025 49,399 3,888 53,287
2026 49,562 3,725 53,287
2027 49,725 3,562 53,287
2028 49,889 3,398 53,287
2029-2033 251,927 14,508 266,435
2034-2038 256,110 10,325 266,435
2039-2043 260,364 6,071 266,435
2044-2047 211,403 1,745 213,148
Totals $ 1,227,615 $ 51,273 $ 1,278,888
Fiscal Year Ending
June 30, Principal Interest Total
2024 103,634 $ 13,963 $ 117,597 $
2025 106,786 10,809 117,595
2026 110,033 7,562 117,595
2027 112,679 4,147 116,826
2028 79,481 1,080 80,561
Totals 512,613 $ 37,561 $ 550,174 $
Leases Payable
43 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
6) LONG-TERM LIABILITIES – Continued
2019 Sales Tax Revenue Bonds Series A and B
In November of 2019, the La Puente Financing Authority (a component unit of the City of La Puente) issued $3,910,000 2019 Series A Bonds (2019A) and $3,470,000 2019 Series B Bonds (2019B). Proceeds of the 2019A Bonds will be used to finance certain transportation projects of the City of La Puente, purchase a reserve surety for the bonds, and pay issuance costs. Proceeds of the 2019B Bonds will be used to finance costs associated with certain transportation projects of the City, purchase a reserve surety for the bonds, and pay issuance costs.

The 2019A Bonds mature in amounts from $140,000 to $255,000 annually from 2020 to 2039, with interest payments ranging from 2.75% to 4.0% payable semi-annually on June 1 and December 1 of each year. The 2019B Bonds mature in amounts from $125,000 to $225,000 annually from 2020 to 2039, with interest payments ranging from 2.75% to 4.0% payable semi-annually on June 1 and December 1 of each year. The 2019A Bonds are secured by pledged Measure M revenues that are derived from a retail transactions and use tax (Measure M Sales Tax) imposed in the County of Los Angeles.

The City has pledged the Measure M revenues to the payment of the 2019A Bonds pursuant to a Pledge Agreement dated November 1, 2019 by and between the City and Authority. The 2019B Bonds are secured by the pledged Measure R revenues that are derived from a retail transactions and use tax imposed in the County of Los Angeles. The City has pledged the Measure R revenues to the payment of the 2019B Bond pursuant to a Pledge Agreement dated November 1, 2019 by and between the City and Authority.

Pledged Measure M revenues for the 2019A Bonds for subsequent fiscals through 2039 are estimated at $5 million. This represents approximately 45% of the total Measure M revenues. The pledged Measure M revenues for the 2022-23 fiscal year were $741,291. Pledged Measure R revenues for the 2019B Bonds for subsequent fiscal years through 2039 are estimated at $4.4 million. This represents approximately 45% of total Measure R revenues. The pledged Measure R revenues for the 2022-23 fiscal year were $655,306. Future debt service requirements on the 2019A and 2019B Bonds are as follows:

Fiscal Year Ending
June 30, Principal Interest Total
2024 155,000 $ 106,837 $ 261,837 $
2025 160,000 100,638 260,638
2026 170,000 94,237 264,237
2027 175,000 87,438 262,438
2028 180,000 80,437 260,437
2029-2033 1,010,000 299,938 1,309,938
2034-2038 1,175,000 137,387 1,312,387
2039 255,000 7,013 262,013
Totals 3,280,000 $ 913,925 $ 4,193,925 $
2019A Measure M Bonds
44 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
6) LONG-TERM LIABILITIES – Continued
2020 Certificates of Participation, Series A
On December 1, 2020, the City (Lessee) entered into a lease agreement (Lease) with the Public Property Financing Corporation of California (Lessor), whereby the Lessor has agreed to finance all or a portion of the Lessee’s outstanding pension and/or OPEB liabilities, and the Lessee has agreed to lease certain property from the Lessor; and, the Lessee and the Lessor authorized the execution and delivery of $8,517,708 in certificates of participation (Certificates), each evidencing and representing an undivided and proportionate interest of the Certificate holders in the lease payments to be made by the Lessee under the Lease.

The net proceeds obtained through the execution, sale and delivery of the Certificates were deposited with a Trustee under a Trust Agreement and used in part by the Lessor to finance all or a portion of the Lessee’s outstanding pension and/or OPEB liabilities on behalf of the Lessee. The Lessee is required to make lease payments at least equal to the fair rental value of the leased property in amounts sufficient to pay the principal and interest components evidenced and represented by all outstanding Certificates.

Interest (3.05% per annum) is payable on April 1 and October 1 of each year, commencing April 1, 2021. The following represents the future debt service requirements for the Certificates:

Fiscal Year Ending
June 30, Principal Interest Total
2024 140,000 $ 95,000 $ 235,000 $
2025 145,000 89,400 234,400
2026 150,000 83,600 233,600
2027 155,000 77,600 232,600
2028 160,000 71,400 231,400
2029-2033 900,000 265,700 1,165,700
2034-2038 1,040,000 121,588 1,161,588
2039 225,000 6,187 231,187
Totals 2,915,000 $ 810,475 $ 3,725,475 $
2019B Measure R Bonds
Fiscal Year Ending
June 30, Principal Interest Total
2024 374,850 $ 231,937 $ 606,787 $
2025 398,533 220,143 618,676
2026 423,182 207,612 630,794
2027 448,833 194,314 643,147
2028 475,522 180,218 655,740
2029-2033 2,816,881 659,387 3,476,268
2034-2037 2,854,132 179,657 3,033,789
Totals 7,791,933 $ 1,873,268 $ 9,665,201 $
45 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
6) LONG-TERM LIABILITIES – Continued
2022 Certificates of Participation, Series A
On January 1, 2022, the City (Lessee) entered into a lease agreement (Lease) with the Public Property Financing Corporation of California (Lessor), whereby the Lessor has agreed to finance certain energy efficiency and solar PV improvements for the City, and the Lessee has agreed to lease certain property from the Lessor; and, the Lessee and the Lessor authorized the execution and delivery of $3,758,856 in certificates of participation (Certificates), each evidencing and representing an undivided and proportionate interest of the Certificate holders in the lease payments to be made by the Lessee under the Lease.

The net proceeds obtained through the execution, sale and delivery of the Certificates were deposited with a Trustee under a Trust Agreement. The Lessee is required to make lease payments at least equal to the fair rental value of the leased property in amounts sufficient to pay the principal and interest components evidenced and represented by all outstanding Certificates. Interest (2.31% per annum) is payable on October 1 and April 1 of each fiscal year, commencing October 1, 2022. The following represents the future debt service requirements for the Certificates:
2016 Sewer Revenue Refunding Bonds
In August of 2016, the La Puente Financing Authority (a component unit of the City of La Puente) issued $9,340,000 in Sewer Revenue Refunding Bonds to refund the 2007 Sewer Revenue Bonds. Proceeds from the 2016 bonds were placed in escrow to refund in full the 2007 bonds, and to pay costs of issuance. As a result, the 2007 bonds are considered defeased and the liability has been removed from these financial statements.

The 2016 bonds mature in amounts from $315,000 to $565,000 annually from 2017 to 2038, with interest payments of 2.93% payable semi-annually on June 1 and December 1 of each year. The bonds were issued to provide funds to construct improvements for the City’s sewer system. The bonds are payable from and secured by the Authority’s pledge under the indenture of that portion of “Revenues” necessary to pay debt service on the bonds and any parity bonds issued under the indenture. “Revenues” are derived of installment payments to be made by the City pursuant to an Installment Sale Agreement dated as of November 1, 2007, between the City and the Authority. Installment payments are payable from net revenues, defined generally as gross revenues received from the sewer system, less maintenance and operation costs.

Fiscal Year Ending
June 30, Principal Interest Total
2024 140,000 $ 84,173 $ 224,173 $
2025 150,000 80,824 230,824
2026 160,000 77,243 237,243
2027 170,000 73,431 243,431
2028 180,000 69,389 249,389
2029-2033 1,100,000 276,029 1,376,029
2034-2038 1,365,000 138,525 1,503,525
2039-2040 448,856 7,699 456,555
Totals 3,713,856 $ 807,313 $ 4,521,169 $
46 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
6) LONG-TERM LIABILITIES – Continued
Future debt service requirements on the 2016 Sewer Revenue Refunding Bonds are as follows:

Pledged revenues for subsequent fiscal years through 2038 are estimated at $11.0 million. This represents approximately 48% of the total revenues from the sewer system. The pledged net revenues for the 2022-23 fiscal year amounted to approximately $820,000, while the debt service requirements on the related debt were approximately $575,000.

The City is subject to a legal debt margin of approximately $426 million. Currently, the only debt of the City that is applicable to the legal debt margin is the 2020A Pension Obligation Bonds and the 2022 Certificates of Participation, with a total of approximately $15 million subject to the limit.

Fiduciary Fund Long-term Liabilities
The following represents the long-term debt activity of the Successor Agency for the 2022-23 fiscal year:
2014A Tax Allocation Refunding Bonds
In August 2014, the Successor Agency $3,760,000 Tax Allocation Revenue Refunding Bonds, Series 2014, which mature in amounts from $100,000 to $255,000 annually until 2038 with interest payments of 4.35% payable semiannually on February 1 and August 1 of each year. The purpose of the bonds was to refund the 2007 Tax Allocation Bonds issued by the former La Puente Community Development Commission. The bonds are special obligations of the Successor Agency and are payable exclusively from Pledged Tax Revenues. The bonds are not a debt, liability or obligation of the City of La Puente (the “City”), the County of Los Angeles (the “County”), the State of California or any of its political subdivisions, other than the Commission. In no event shall the bonds be payable out of any funds or properties other than those of the Commission. Future debt service requirements on the 2014A Tax Allocation Refunding Bonds are as follows:

Fiscal Year Ending
June 30, Principal Interest Total
2024 375,000 $ 198,727 $ 573,727 $
2025 390,000 187,520 577,520
2026 400,000 175,947 575,947
2027 410,000 164,080 574,080
2028 420,000 151,921 571,921
2029-2033 2,305,000 563,659 2,868,659
2034-2038 2,670,000 199,973 2,869,973
Totals 6,970,000 $ 1,641,826 $ 8,611,826 $
Beginning Ending Due Within
Tax Allocation Refunding Bonds: Balance Additions Deletions Balance One Year Series 2014A $ 2,975,000 $ - $ 130,000 $ 2,845,000 $ 135,000 Total $ 2,975,000 $ - $ 130,000 $ 2,845,000 $ 135,000
47 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
6) LONG-TERM LIABILITIES – Continued
7) RISK MANAGEMENT
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters for which the City participates in the California Joint Powers Insurance Authority (Authority) as follows:

Description of Self-Insurance Pool Pursuant to Joint Powers Agreement The Authority is composed of 124 California public entities and is organized under a joint powers agreement pursuant to California Government Code §6500 et seq. The purpose of the Authority is to arrange and administer programs for the pooling of self-insured losses, to purchase excess insurance or reinsurance, and to arrange for group purchased insurance for property and other lines of coverage. The Authority began covering claims of its members in 1978. Each member government has an elected official as its representative on the Board of Directors. The Board operates through a nine-member Executive Committee.

Self-Insurance Programs of the Authority
Each member pays an annual contribution at the beginning of the coverage period. A retrospective adjustment is then conducted annually thereafter, for coverage years 2012-13 and prior. Coverage years 2013-14 and forward are not subject to routine annual retrospective adjustment. The total funding requirement for primary self-insurance programs is based on an actuarial analysis. Costs are allocated to individual agencies based on payroll and claims history, relative to other members of the risk-sharing pool.

Liability
Claims are pooled separately between police and general government exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $100,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $100,000 to $500,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the second layer. (4) Incurred costs from $500,000 to $50 million, are distributed based on the outcome of cost allocation within the first and second loss layers.

Fiscal Year Ending
June 30, Principal Interest Total
2024 135,000 $ 120,821 $ 255,821 $
2025 145,000 114,731 259,731
2026 145,000 108,424 253,424
2027 155,000 101,899 256,899
2028 160,000 95,048 255,048
2029-2033 935,000 359,854 1,294,854
2034-2038 1,170,000 131,805 1,301,805
Totals 2,845,000 $ 1,032,582 $ 3,877,582 $
48 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
7) RISK MANAGEMENT - Continued
The overall coverage limit for each member, including all layers of coverage, is $50 million per occurrence. Subsidence losses have a sub-limit of $50 million per occurrence. The coverage structure includes retained risk that is pooled among members, reinsurance, and excess insurance. More detailed information about the various layers of coverage is available on the following website:
https://cjpia.org/protection/coverage-programs.

Worker’s Compensation
Claims are pooled separately between public safety (police and fire) and general government exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $75,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $75,000 to $200,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the second layer. (4) Incurred costs from $200,000 to statutory limits are distributed based on the outcome of cost allocation within the first and second loss layers.

For 2022-23 the Authority’s pooled retention is $1 million per occurrence, with reinsurance to statutory limits under California Workers’ Compensation Law. Employer’s Liability losses are pooled among members to $1 million. Coverage from $1 million to $5 million is purchased as part of a reinsurance policy, and Employer’s Liability losses from $5 million to $10 million are pooled among members.

Purchased Insurance
Pollution Legal Liability Insurance
The City of La Puente participates in the pollution legal liability insurance program which is available through the Authority. The policy covers sudden and gradual pollution of scheduled property, streets, and storm drains owned by the City of La Puente. Coverage is on a claims-made basis. There is a $250,000 deductible. The Authority has an aggregate limit of $20 million.

Property Insurance
The City of La Puente participates in the all-risk property protection program of the Authority. This insurance protection is underwritten by several insurance companies. City of La Puente property is currently insured according to a schedule of covered property submitted by the City of La Puente to the Authority. City of La Puente property currently has all-risk property insurance protection in the amount of $28,763,655. There is a $10,000 deductible per occurrence except for non-emergency vehicle insurance which has a $2,500 deductible.

Crime Insurance
The City of La Puente purchases crime insurance coverage in the amount of $1,000,000 with a $2,500 deductible. The fidelity coverage is provided through the Authority.

Special Event Tenant User Liability Insurance
The City of La Puente further protects against liability damages by requiring tenant users of certain property to purchase low-cost tenant user liability insurance for certain activities on agency property. The insurance premium is paid by the tenant user and is paid to the City of La Puente according to a schedule. The City of La Puente then pays for the insurance. The insurance is facilitated by the Authority. 49 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
7) RISK MANAGEMENT - Continued
Adequacy of Protection
During the past three fiscal years, none of the above programs of protection experienced settlements or judgments that exceeded pooled or insured coverage. There were also no significant reductions in pooled or insured liability coverage in 2022-23.

Claims and Judgments
The City accounts for uninsured, material claims and judgments and associated legal and administrative costs when it is probable that the liability claim has been incurred and the amount of the loss can be reasonably estimated. Included therein are claims incurred but not reported, which consists of (a) known loss events expected to be presented as claims later, (b) unknown loss events that are expected to become claims, and (c) expected future development on claims already reported. This is based upon historical actual results that have established a reliable pattern supplemented by specific information about current matters. Small dollar claims and judgments are recorded as expenditures when paid.
8) PENSION PLAN
General Information about the Pension Plan
Plan Description – All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing Multiple-Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees’ Retirement System (CalPERS.) The Plan consists of individual rate plans (benefit tiers) within a miscellaneous risk pool. Plan assets may be used to pay benefits for any employer rate plan of the miscellaneous pool. Accordingly, rate plans within the miscellaneous pool are not separate plans under GASB Statement No. 68. Individual employers may sponsor more than one rate plan in the miscellaneous pool. The City sponsors two rate plans. Benefit provisions under the Plan are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.

Benefits Provided – The Plan is a cost-sharing multiple-employer defined benefit pension plan administered by the California Public Employees’ Retirement System (CalPERS). A full description of the pension plan benefit provisions, assumptions for funding purposes but not accounting purposes, and membership information is listed in the June 30, 2021 Annual Actuarial Valuation Report. Details of the benefits provided can be obtained in Appendix B of the June 30, 2021 actuarial valuation report. This report is a publicly available valuation report that can be obtained at CalPERS’ website under Forms and Publications. The rate plan provisions and benefits in effect at June 30, 2023, are summarized as follows:

Miscellaneous Misc. PEPRA
Prior to On or after
Hire date January 1, 2013 January 1, 2013
Benefit formula 2.5% @ 55 2% @ 62
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age 55 62
Monthly benefits, as a % of eligible compensation Last 12 Mos. of Service Last 36 Mos. of Service Required employee contribution rates 8% 7.50%
Required employer contribution rates 13.93% + $168,326 8.19% + $757 50 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
8) PENSION PLAN - Continued
Contributions – Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.

Beginning in fiscal year 2016, CalPERS collects employer contributions for the Plan as a percentage of payroll for the normal cost portion as noted in the rates above and as a dollar amount for contributions toward the unfunded liability. The dollar amounts are billed on a monthly basis. The City’s required contribution for the unfunded liability was $169,083 in fiscal year 2023. The City’s contributions to the Plan for the year ended June 30, 2023 were $534,535.

Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources for Pensions As of June 30, 2023, the City reported a net pension liability/(asset) of $2,708,922 for its proportionate share of the net pension liability. The City’s net pension liability/(asset) for the Plan is measured as the proportionate share of the net pension liability. The net pension liability of the Plan is measured as of June 30, 2022, and the total pension liability for the Plan used to calculate the net pension liability/(asset) was determined by an actuarial valuation as of June 30, 2021 rolled forward to June 30, 2022 using standard update procedures.

The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined. The City’s proportionate share of the Plan’s net pension liability as of June 30, 2023 and 2022 was as follows:

For the year ended June 30, 2023, the City recognized a pension expense/(credit) of $3,633,606. At June 30, 2023, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Proportion - June 30, 2022 -0.06587%
Proportion - June 30, 2023 0.05789%
Change - Increase (Decrease) 0.12376%
Deferred Deferred
Outflows Inflows
Pension contributions subsequent to measurement date 534,535 $ - $ Differences between actual and expected experience 54,400 36,435 Changes in assumptions 277,586 -
Differences between employer's contributions
and proportionate share of contributions 2,476,573 541,505 Change in employer's proportions 1,638,173 2,192,441
Net differences between projected and actual
earnings on plan investments 496,203 -
Total 5,477,470 $ 2,770,381 $
51 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
8) PENSION PLAN – Continued
The $534,535 reported as deferred outflows related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2024. Other amounts reported as deferred outflows and deferred inflows related to pensions will be recognized as pension expense as follows:

Actuarial Assumptions – The total pension liabilities in the June 30, 2021 actuarial valuations were determined using the following actuarial assumptions:

The mortality table used was developed based on CalPERS-specific data. The probabilities of mortality are based on the 2021 CalPERS Experience Study for the period from 2001 to 2019. Pre-retirement and Post-retirement mortality rates include generational mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries. For more details on this table, please refer to the CalPERS Experience Study and Review of Actuarial Assumptions report from November 2021 that can be found on the CalPERS website.

Long-term Expected Rate of Return - The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations as well as the expected pension fund cash flows. Using historical returns of all the funds’ asset classes, expected compound returns were calculated over the short-term (first 10 years) and the long-term (11-60 years) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses.

Year Ending
June 30,
2024 782,576 $
2025 702,473
2026 384,010
2027 303,495
2028 -
Thereafter -
Valuation date June 30, 2021
Measurement date June 30, 2022
Actuarial cost method entry-age normal
Actuarial assumptions:

Discount rate 6.90%
Inflation 2.30%
Projected salary increase (1)
Investment rate of return 6.90%
Mortality (2)
(1) Depending on age, service and type of employment
(2) Derived using CalPERS’ Membership Data for all Funds. 52 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
8) PENSION PLAN - Continued
The expected real rates of return by asset class are as follows:

Discount Rate – The discount rate used to measure the total pension liability for PERF C was 6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate – The following presents the City’s proportionate share of the net pension liability/(asset) for the Plan, calculated using the discount rate for the Plan, as well as what the City’s proportionate share of the net pension liability/(asset) would be if it were calculated using a discount rate that is 1-percentage point lower or 1- percentage point higher than the current rate:

Pension Plan Fiduciary Net Position – Detailed information about the Plan’s fiduciary net position is available in the separately issued CalPERS financial reports.

Payable to the Pension Plan – At June 30, 2023, the City reported no payables due to the pension plan, for outstanding contributions.
9) OTHER POSTEMPLOYMENT BENEFITS
Plan Description – The City has established the La Puente Retiree Healthcare Plan (LPRHCP), and participates in an agent multiple-employer defined benefit retiree healthcare plan. A separate financial report is not prepared for the LPRHCP.

New Strategic Real Return Real Return
Asset Class Allocation Years 1 - 10 (1) Years 11+ (2)
Global Equity 50% 4.80% 5.98%
Global Fixed Income 28% 1.00% 2.62%
Inflation Assets - 0.77% 1.81%
Private Equity 8% 6.30% 7.23%
Real Assets 13% 3.75% 4.93%
Liquidity 1% - -0.92%
(1) An expected inflation of 2.30% used for this period. (2) An expected inflation of 2.92% used for this period. 1% Decrease 5.90%
Net Pension Liability $ 6,181,181
Current Discount Rate 6.90%
Net Pension Liability $ 2,708,922
1% Increase 7.90%
Net Pension Liability $ (147,886)
53 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
9) OTHER POST EMPLOYMENT BENEFITS - Continued
Benefits Provided – Under the LPRHCP, retirees are eligible for benefits as follows:
*Those hired prior to 8/1/08 require only CalPERS retirement to receive 100% of employer contribution.

Employees Covered by Benefit Terms – As of the June 30, 2021 actuarial valuation, the following current and former employees were covered by the benefit terms under the LPRHCP:

Contributions – The LPRHCP plan and its contribution requirements are established by Memoranda of Understanding with the applicable employee bargaining units and may be amended by agreements between the City and the bargaining units. The annual contribution is based on the actuarially determined contribution.

For the fiscal year ended June 30, 2023, the City’s cash contributions for retiree health benefits was $211,604.

In a prior fiscal year, the City created a trust account with the California Public Employers’ Retiree Benefit Trust (CERBT), an agent multiple-employer defined benefit plan. The CERBT issues a publicly available report that can be found on the CalPERS website.

Net OPEB Liability - The City’s net OPEB liability was measured as of June 30, 2022 and the total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation dated June 30, 2021, based on the following actuarial methods and assumptions:

Valuation Date June 30, 2021
Actuarial Cost Method Entry Age Actuarial Cost
Mortality 2014 CalPERS Active Mortality for Miscellaneous Employees Age at Retirement 52
Health Care Trend Rate 4.00%
Inflation Rate 2.50%
Salary Changes 2.75%
Discount Rate 6.75%

Eligible Employees
Benefit types provided Medical, dental, vision
Duration of Benefits Lifetime
Required Service 5 years*
Minimum Age 50
Dependent Coverage Yes
City Contribution 50% of employer contribution at 10
years of service for medical plus 5%
per additional year to 100% at 20 or
more years of service
City Cap $2,000 per year in dental and vision
expenses
Retirees or spouses of retirees
currently receiving benefits 25
Active employees 38
63 54
City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
9) OTHER POST EMPLOYMENT BENEFITS - Continued
The long-term expected rate of return on OPEB plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of OPEB plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighing the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:

Discount Rate – The discount rate used to measure the total OPEB liability was 6.75 percent. The projection of cash flows used to determine the discount rate assumed that City contributions will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries. Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEB liability.

Changes in the Net OPEB Liability
Sensitivity of the Net OPEB Liability/(Asset) to changes in the Discount Rate - The following presents the net OPEB liability/(asset) of the City if it were calculated using a discount rate that is 1-percentage-point lower or 1-percentage-point higher than the current discount rate:

Target Long-Term
Asset Class Allocation Rate of Return
All Equities 59% 7.545%
All Fixed Income 25% 4.250%
Real Estate Invesment Trusts 8% 7.250%
All Commodities 3% 7.545%
Treasury Inflation Protected Securities (TIPS) 5% 3.000% Total 100.00%
Total OPEB Plan Fiduciary Net OPEB
Liability (TOL) Net Position Liability/(Asset)
Balance at June 30, 2021 $ 4,088,989 $ 4,774,302 $ (685,313) Changes in the year:

Service cost 168,834 - 168,834
Interest on the total OPEB liability 273,656 - 273,656
Changes in Assumptions - - -
Employer Contributions - 211,591 (211,591)
Employee Contributions - - -
Actual Investment Income - 322,225 (322,225)
Administrative Expense - (1,209) 1,209
Benefit payments, including refunds (238,498) (211,591) (26,907) Experience (Gains)/Losses - (960,987) 960,987
Net changes 203,992 (639,971) 843,963
Balance at June 30, 2022 $ 4,292,981 $ 4,134,331 $ 158,650 Increase (Decrease)
55 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
9) OTHER POST EMPLOYMENT BENEFITS - Continued
Sensitivity of the Net OPEB Liability/(Asset) to changes in the Healthcare Cost Trend Rates - The following presents the net OPEB liability/(asset) of the City, as well as what the City’s Net OPEB liability/(asset) would be if it were calculated using a healthcare cost trend rate that is 1-percentage-point lower or 1- percentage-point higher than the current healthcare cost trend rate:

OPEB Plan Fiduciary Net Position
CERBT issues a publicly available financial report that may be obtained from the California Public Employers’ Retirement System (CalPERS) website.

OPEB Expense and Recognition of Deferred Outflows/Inflows of Resources Related to OPEB Gains and losses related to changes in total OPEB liability and fiduciary net position are recognized in OPEB expense systematically over time. Amounts are first recognized in OPEB expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to OPEB and are to be recognized in future OPEB expense.

The recognition period differs depending on the source of the gain or loss:

Net difference between projected and actual
earnings on OPEB plan investments: 5 years
All other amounts: Expected average remaining service lifetime (EARSL) (6.0 years at June 30, 2019)
For the year ended June 30, 2023, the City recognized OPEB expense of $175,332. The City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
1% Decrease Discount Rate 1% Increase
(5.75%) (6.75%) (7.75%)
Net OPEB liability (asset) 664,536 $ 158,650 $ (263,603) $ 1% Decrease Trend - No Change 1% Increase
(3%) (4%) (5%)
Net OPEB liability (asset) $ (304,426) $ 158,650 $ 729,305 Deferred Deferred
Outflows Inflows
OPEB Contributions Subsequent to the Measurement Date $ 211,604 $ - Changes of Assumptions 153,780 -
Investment Gain/Loss 490,288 -
Net differences between projected and actual
earnings on plan investments (466,486) -
Total $ 855,672 $ (466,486)
56 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
9) OTHER POST EMPLOYMENT BENEFITS - Continued
The $211,604 reported as deferred outflows of resources related to contributions subsequent to the June 30, 2022 measurement date will be recognized as a reduction of the net OPEB liability during the fiscal year ended June 30, 2024. Other amounts reported as deferred outflows of resources related to OPEB will be recognized as expense as follows:
10) FUND BALANCES
Details of the City's governmental fund balances at June 30, 2023, are presented below:

The Miscellaneous Grants Fund and Other Governmental Funds have a deficit fund balance of $1,906,446 and $29,152, respectively, as of June 30, 2023. These deficits will be eliminated when unavailable revenues are realized in the next fiscal year.
11) OTHER INFORMATION
Contingent Liabilities
Claims and lawsuits have been filed against the City in the normal course of business. The outcome of these matters is not presently determinable. However, in the opinion of management, the resolution of these matters is not expected to have a significant impact on the financial condition of the City.

Year Ending
June 30,
2024 $ 50,965
2025 49,459
2026 51,539
2027 157,457
2028 (33,973)
Thereafter (97,865)
Other
General Miscellaneous Governmental
Fund ARPA Grants Funds Total
Nonspendable:

Prepaid Costs 172,343 $ - $ - $ 18,421 $ $ 190,764
Long-term Advances 9,697,366 - - - 9, 697,366
Restricted for:

Lighting and Landscape - - - 850,630 850,630
Low Income Housing - - - 1, 1,904,728 904,728
PEG Access - - - 87,044 87,044
Street Projects - - - 6, 6,674,056 674,056
Safe Clean Water - - - 377,691 377,691
Energy Efficiency Project - - - 31,736 31,736
Air Pollution Reduction Measures - - - 179,949 179,949
Public Works (Transportation) - - - 2, 2,212,297 212,297 Unassigned 20,791,132 - (1,906, (29,152) 446) 18, 855,534 Total Fund Balance 30,660,841 $ - $ (1,906, $ 12,307,400 446) $ 41,061,795 $ 57 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2023
11) OTHER INFORMATION - Continued
Other Commitments and Contingencies
The City has received state and federal funds for specific purposes that are subject to review and audit by the grantor agencies. Although such audits could generate expenditure disallowances under terms of the grants, it is believed that any required reimbursements will not be material.

The estimated amount of remaining construction contract obligations at year-end is $7,005,856. 58 REQUIRED SUPPLEMENTARY

INFORMATION
City of La Puente
Required Supplementary Information
For the Year Ended June 30, 2023
2022 2021 2020
Total OPEB Liability
Service cost $ 168,834 $ 118,892 $ 115,710
Interest on total OPEB liability 273,656 291,855 284,285 Changes in Assumptions - 193,212 -
Experience Gains/Losses (499,235) - -
Benefit payments, including refunds (238,498) (271,909) (294,371) Net change in total OPEB liability 203,992 (167,185) 105,624 Total OPEB liability - beginning 4,088,989 4,256,174 4,150,550 Total OPEB liability - ending (a) $ 4,292,981 $ 4,088,989 $ 4,256,174 Plan Fiduciary Net Position
Contributions - employer $ 211,591 $ 2,971,909 $ 656,412 Interest on TOL/Return on FNP 322,225 690,736 81,182
Invesment Gains/Losses (960,987) - (49,005)
Benefit payments (211,591) (271,909) (270,512)
Administrative Expense (1,209) (1,063) (478)
Other - - -
Net change in plan fiduciary net position (639,971) 3,389,673 417,599 Plan fiduciary net position - beginning 4,774,302 1,384,629 967,030 Plan fiduciary net position - ending (b) $ 4,134,331 $ 4,774,302 $ 1,384,629 Net OPEB liability/(asset) - ending (a) - (b) $ 158,650 $ (685,313) $ 2,871,545 Plan fiduciary net position as a percentage
of the total OPEB liability 96.30% 116.76% 32.53%
Covered-employee payroll 3,271,240 $ 2,581,351 $ 2,274,945 $ Net OPEB liability/(asset) as a percentage of
covered-employee payroll 4.85% -26.55% 126.22%
Notes to Schedule:

Benefit Changes: None
Changes in Assumptions: The interest assumption changes from 7.00% to 6.75 in 2021. Assumed rates of retirement, termmination, and mortality have been updated to align with those currently being used by the statewide pension systems.
*Fiscal year 2018 was the first year of implementation, therefore, 10 years of information are not available.

Measurement Period
Schedule of Changes in the City's
Net OPEB Liability/(Asset) and Related Ratios
Last 10 Fiscal Years*
59 2019 2018 2017
$ 102,612 $ 99,866 $ 97,193
282,007 275,764 269,417
(65,672) - -
- - -
(291,539) (284,077) (273,151)
27,408 91,553 93,459
4,123,142 4,031,589 3,938,130
$ 4,150,550 $ 4,123,142 $ 4,031,589
$ 640,755 $ 568,154 $ 273,151
51,475 27,419 23,980
(7,542) (14,462) -
(265,155) (284,077) (273,151)
(129) (505) (201)
- 1,183 -
419,404 297,712 23,779
547,626 249,914 226,135
$ 967,030 $ 547,626 $ 249,914
$ 3,183,520 $ 3,575,516 $ 3,781,675

23.30% 13.28% 6.20%
$ 2,074,085 $ 1,845,731 $ 1,732,444
153.49% 193.72% 218.29%
Measurement Period
60 City of La Puente
Required Supplementary Information
For the Year Ended June 30, 2023
Notes to the Schedule of Plan Contributions
Valuation Date: 6/30/18, 6/30/21
Changes in Assumptions: None.
*Fiscal year 2018 was the first year of implementation; therefore, 10 years of information are not yet available.

Contributions in Contributions
Relation to the as a % of
Contractually Contractually Contribution Covered Covered Reqiured Required Deficiency/ Employee Employee
Fiscal Year Contributions Contributions (Excess) Payroll Payroll 2023 $ 211,604 $ (211,604) $ 3,864,935 - $ 5.47%
2022 238,498 (238,498) 3,271,240 - 7.29%
2021 271,909 (271,909) 2,581,351 - 10.53%
2020 294,371 (294,371) 2,274,945 - 12.94%
2019 291,539 (291,539) 2,074,085 - 14.06%
2018 284,077 (284,077) 1,845,731 - 15.39%
2017 273,151 (273,151) 1,732,444 - 15.77%
Schedule of Plan Contributions
Last 10 Years*
for the City's OPEB Plan
61 City of La Puente
Required Supplementary Information
For the Year Ended June 30, 2023
Notes to the Schedule of the City’s Proportionate Share of the Net Pension Liability/(Asset) Benefit Changes: None
Changes in Assumptions: In 2017, the accounting discount rate changed from 7.65% to 7.15%. In 2022, the accounting discount rate changed from 7.15% to 6.90%.
*Fiscal year 2015 was the first year of implementation; therefore, 10 years of information are not yet available.

Proportionate
Proportionate Share of the Net Plan Fiduciary
Proportion of Share of Net Pension Liability/ Net Position as the Net Pension Pension Liability/ Covered (Asset) a % of the Total Measurement Date Liability/(Asset) (Asset) Payroll as a % of Payroll Pension Liability 2022 0.05789% 2,708,922 $ $ 3,271,240 82.81% 89.36%
2021 -0.06587% (1,250,787) 2,581,351 -48.45% 105.14%
2020 0.18484% 7,796,766 2,274,945 342.72% 67.64%
2019 0.18316% 7,334,797 2,074,085 353.64% 68.72%
2018 0.18164% 6,845,330 1,845,731 370.87% 69.44%
2017 0.17543% 6,915,558 1,732,444 399.18% 68.59%
2016 0.17441% 6,058,634 1,708,926 354.53% 69.59%
2015 0.17990% 4,935,366 1,469,397 335.88% 76.07%
2014 0.14530% 3,590,581 1,689,344 212.54% 83.03%
Schedule of the City's Proportionate Share of the Net Pension Liability/(Asset) Last 10 Years*
62 City of La Puente
Required Supplementary Information
For the Year Ended June 30, 2023
Notes to the Schedule of Plan Contributions
Valuation Date: 6/30/13, 6/30/14, 6/30/15, 6/30/16, 6/30/17, 6/30/18, 6/30/19, 6/30/20, 6/30/21 Changes in Assumptions: None.
*Fiscal year 2015 was the first year of implementation; therefore, 10 years of information are not yet available.

Contributions in
Relation to the Contributions
Contractually Actuarially Contribution as a % of
Required Determined Deficiency/ Covered Covered
Fiscal Year Contributions Contributions (Excess) Payroll Payroll 2023 534,535 $ (534,535) $ - $ 3,864,935 $ 13.83%
2022 451,548 (451,548) - 3,271,240 13.80%
2021 777,000 (6,396,905) (5,619,905) 2,581,351 30.10%
2020 683,377 (683,377) - 2,274,945 30.04%
2019 536,963 (536,963) - 2,074,085 25.89%
2018 458,034 (458,034) - 1,845,731 24.82%
2017 454,011 (454,011) - 1,732,444 26.20%
2016 412,824 (412,824) - 1,708,926 24.16%
2015 268,333 (268,333) - 1,469,397 18.26%
Schedule of Pension Plan Contributions
Last 10 Years*
63 City of La Puente
Budgetary Comparison Schedule
Budget and Actual - General Fund
Year Ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Taxes 16,106,000 $ 16,106,000 $ 16,243,908 $ 137,908 $
Licenses and Permits 620,400 620,400 968,739 348,339
Intergovernmental 300,000 300,000 361,644 61,644
Charges for Services 638,000 638,000 897,939 259,939
Fines and Forfeitures 307,500 307,500 530,934 223,434
Investment Income 200,000 200,000 (369,878) (569,878)
Other Revenue 11,100 11,100 52,553 41,453
Total Revenues 18,183,000 18,183,000 18,685,839 502,839

EXPENDITURES
Current:

General Government 3,279,900 3,279,900 2,872,917 406,983 Public Safety 10,278,100 10,278,100 9,540,508 737,592
Public Works 553,600 553,600 592,506 (38,906)
Recreation/Senior Services 1,943,400 1,943,400 1,903,282 40,118 Community Development 1,915,200 1,915,200 2,322,884 (407,684) Capital Outlay 640,000 640,000 380,399 259,601
Total Expenditures 18,610,200 18,610,200 17,612,496 997,704 Excess (Deficiency) of Revenues
over Expenditures (427,200) (427,200) 1,073,343 1,500,543

OTHER FINANCING SOURCES (USES)
Transfers In 611,500 611,500 4,867,072 4,255,572
Transfers Out (824,300) (824,300) (1,353,065) (528,765) Total Other Financing Sources (Uses) (212,800) (212,800) 3,514,007 3,726,807 Net Change in Fund Balances (640,000) (640,000) 4,587,350 5,227,350 Fund Balance, Beginning of Year 26,078,491 26,078,491 26,078,491 - Fund Balance, End of Year $ 25,438,491 $ 25,438,491 $ 30,665,841 $ 5,227,350 Budgeted Amounts
64 City of La Puente
Budgetary Comparison Schedule
Budget and Actual - ARPA
Year Ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Intergovernmental 4,738,200 $ 4,738,200 $ 7,449,493 $ 2,711,293 $ Total Revenues 4,738,200 4,738,200 7,449,493 2,711,293

EXPENDITURES
Current:

Community Development 3,471,200 3,471,200 2,051,089 1,420,111 Capital Outlay 1,000,000 1,000,000 242,271 757,729
Total Expenditures 4,471,200 4,471,200 2,293,360 2,177,840 Excess (Deficiency) of Revenues
over Expenditures 267,000 267,000 5,156,133 4,889,133

OTHER FINANCING SOURCES (USES)
Transfers Out (429,500) (429,500) (5,156,133) (4,726,633) Total Other Financing Sources (Uses) (429,500) (429,500) (5,156,133) (4,726,633) Net Change in Fund Balances (162,500) (162,500) 162,500 - Fund Balance, Beginning of Year - - - -
Fund Balance, End of Year $ (162,500) $ (162,500) $ 162,500 - $ Budgeted Amounts
65 City of La Puente
Budgetary Comparison Schedule
Budget and Actual - Miscellaneous Grant
Year Ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Intergovernmental 5,066,600 $ 5,066,600 $ 6,571,985 $ 1,505,385 $ Total Revenues 5,066,600 5,066,600 6,571,985 1,505,385

EXPENDITURES
Current:

Capital Outlay - - 731,619 (731,619)
Capital Outlay 5,066,600 5,066,600 3,406,741 1,659,859
Total Expenditures 5,066,600 5,066,600 4,138,360 928,240 Excess (Deficiency) of Revenues
over Expenditures - - 2,433,625 2,433,625

OTHER FINANCING SOURCES (USES)
Transfers Out - - - -
Total Other Financing Sources (Uses) - - - -
Net Change in Fund Balances - 2,433,625 - 2,433,625
Fund Balance, Beginning of Year (4,340,071) (4,340,071) (4,340,071) - Fund Balance, End of Year $ (4,340,071) $ (4,340,071) $ (1,906,446) $ 2,433,625 Budgeted Amounts
66 City of La Puente
Notes to Required Supplementary Information
Year Ended June 30, 2023

BUDGETS AND BUDGETARY ACCOUNTING
The City follows the following procedures in establishing the budgetary data reflected in the financial statements:
 Annual budgets are adopted on a basis consistent with generally accepted accounting principles for all governmental funds. All annual appropriations lapse at fiscal year-end.  The City Council approves total budgeted appropriations. The appropriated budget is prepared by fund, program and activity. Each program of the City represents a separate government function, namely: general government, public safety, transportation, culture and leisure, community development and redevelopment and housing. Accordingly, each program of the City has been identified as a separate line item in the accompanying combined statement of revenues, expenditures and changes in fund balances. The City Manager is authorized to make appropriation transfers from one activity to another leaving the total fund appropriation unchanged within the same fund. City Council approves all other amendments to appropriations throughout the year. Actual expenditures may not exceed budgeted appropriations at the fund level. Budget figures used in the financial statements are the final adjusted amounts.  Formal budget integration is employed as a management control device during the year.  Under Article XIIIB of the California Constitution (the Gann Spending Litigation Initiative), the City is restricted as to the amount of annual appropriations from the proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller, returned to the taxpayers through revised tax rates, or revised fee schedules, or an excess in one year may be offset against a deficit in the following year. For the fiscal year ended June 30, 2023, based on calculations by City management, proceeds of taxes did not exceed appropriations. Further, Section 5 of Article XIIIB allows the City to designate a portion of fund balance for general contingencies, to be used for any purpose. 67 SUPPLEMENTARY INFORMATION
City of La Puente
Other Governmental Funds
June 30, 2023

SPECIAL REVENUE FUNDS
Special revenue funds account for specific revenues that are legally restricted to expenditures for particular purposes. The other special revenue funds include:

Gas Tax Fund – To account for gasoline taxes received by the City. These funds may be used for street maintenance, right-of-way acquisition and street construction.

Measure M Fund - To account for revenues received from Los Angeles County under Measure M that are to be used exclusively for street and transportation projects.

Prop. C Transportation Fund – To account for revenues received from the Los Angeles County Metropolitan Transportation Authority under Proposition C that are to be used for transportation related purposes PEG Access Fund - Accounts for funds received to develop public, educational, and governmental access to cable television.

State COPS Fund - To account for funds received from the State of California under AB3229 for the purpose of the Citizens Option for Public Safety (COPS) program.

JAG Grant Fund – To account for funds received from the United States Department of Justice for the purpose of reducing crime and improving public safety.

Cal-HOME Grant Fund - To account for funding from the Department of Housing and Urban Development (HUD) in the form of grant to provide decent housing for low and moderate income families.

CDBG Grant Fund - To account for the funds received from the Community Development Block Grant for housing loans, code enforcement, and senior services program.

Air Quality Improvement Fund - Accounts for clean air fees collected by the State and distributed by the Southern California Air Quality Management District to cities for clean air project expenditures.

Measure R Fund - To account for revenues received from Los Angeles County under Measure R that are to be used exclusively for transportation projects and improvements.

Prop. A Transportation Fund - To account for revenues received from Los Angeles County under Proposition A that are to be used exclusively for public transit.

Housing Fund - The Housing Fund is used to account for revenues received and expenditures made for affordable housing. The primary sources of revenue are from loan repayments generated from the use of the former Community Development Commission’s Low and Moderate-Income Housing Funds.

Measure A – To account for the new annual parcel tax of 1.5 cents per square foot of development. Proceeds from the parcel tax will go to help protect and maintain the City’s neighborhood parks.

Measure W - To account for revenues from the County-wide parcel tax that provides local, dedicated funding for rainwater and urban runoff management to increase the region’s local water supply, improve water quality, and protect public health.
68 City of La Puente
Other Governmental Funds
June 30, 2023
SPECIAL REVENUE FUNDS - Continued
Lighting and Landscape Maintenance District Fund (LLMD) – The LLMD is used to account for special benefit assessments levied on property owners and used to pay for street lighting and landscape maintenance.

HSIP Grant Fund – To account for funds received from the United States Department of Transportation restricted for street related projects.

CAPITAL PROJECTS FUNDS
Capital Projects Fund – To account for loan proceeds restricted for certain capital projects, and other related expenditures.
2019A Measure M Fund – To account for the bond proceeds from the 2019A restricted for certain projects related to City-wide street pavement improvement projects.
2019B Measure R Fund – To account for the bond proceeds from the 2019B restricted for certain projects related to City-wide street pavement improvement projects.

DEBT SERVICE FUNDS
Citywide Debt Service Fund – To account for the administration of principal and interest payments for the 2020A and 2022A Certificates of Participation note.
2019A Measure M Fund – To account for the administration of principal and interest payments for the 2019A bonds.
2019B Measure R Fund – To account for the administration of principal and interest payments for the 2019B bonds. 69 Gas PEG State
Tax Measure M Prop C Access COPS
ASSETS
Cash and Investments $ 2,353,908 $ 987,860 $ 3,398,517 $ 78,431 $ - Cash with Fiscal Agent - - - - -
Accounts Receivable - - - 8,613 -
Loans Receivable - - - - -
Prepaid Items 2,117 915 629 - -
Due From Other Governments 233,808 - - - -
Total Assets $ 2,589,833 $ 988,775 $ 3,399,146 $ 87,044 $ -

LIABILITIES
Accounts Payable and Accrued Liabilities $ 199,627 $ 45,380 $ - $ - $ - Due to Other Agencies - - - - -
Due to Other Funds - - - - -
Total Liabilities 199,627 45,380 - - -

DEFERRED INFLOWS OF RESOURCES
Unavailable Revenues - Grants - - - - -
Total Deferred Inflows of Resources - - - - -

FUND BALANCES
Nonspendable 2,117 915 629 - -
Restricted 2,388,089 942,480 3,398,517 87,044 -
Unassigned - - - - -
Total Fund Balances 2,390,206 943,395 3,399,146 87,044 - Total Liabilities, Deferred Inflows of
Resources, and Fund Balances $ 2,589,833 $ 988,775 $ 3,399,146 $ 87,044 $ - City of La Puente
Combining Balance Sheet
Other Governmental Funds
June 30, 2023
Special Revenue Funds
70 JAG Cal-HOME CDBG Air Quality Prop. A
Grant Grant Grant Improvement Measure R Transportation Housing $ 670,465 - $ $ 12,142 $ 167,413 $ 545,467 $ 886,951 $ 471,594 - - - - - - -
- 10,000 - - - - -
762,669 - 407,194 - - - -
- - - - 915 11,587 -
- 39,121 - 12,536 - - -
$ 1,433,134 - $ $ 468,457 $ 179,949 $ 546,382 $ 898,538 $ 471,594 $ - $ 61,263 - $ $ 24,782 - $ $ 137,819 $ -
- 407,194 - - - - -
- - - - - - -
- 468,457 - 24,782 - 137,819 -
- - - - - - -
- - - - - - -
- - - - 915 11,587 -
1,433,134 - 179,949 - 520,685 749,132 471,594
- - - - - - -
1,433,134 - 179,949 521,600 - 760,719 471,594
$ 1,433,134 - $ $ 468,457 $ 179,949 $ 546,382 $ 898,538 $ 471,594 Continued
Special Revenue Funds
71 Measure Measure HSIP Capital
A W LLMD Grant Projects
ASSETS
Cash and Investments $ 386,082 - $ $ 913,514 $ - $ -
Cash with Fiscal Agent - - - 214,957 -
Accounts Receivable - - - - -
Loans Receivable - - - - -
Prepaid Items 801 - 1,457 - -
Due From Other Governments 28,146 49,685 - 3,900 -
Total Assets $ 28,947 $ 386,082 $ 964,656 $ 3,900 $ 214,957

LIABILITIES
Accounts Payable $ 2,379 $ 8,391 $ 112,569 $ 205 $ 183,221 Due to Other Agencies - - - - -
Due to Other Funds 26,568 - - 3,900 -
Total Liabilities 28,947 8,391 112,569 4,105 183,221

DEFERRED INFLOWS OF RESOURCES
Unavailable Revenues - Grants 28,146 - - - -
Total Deferred Inflows of Resources 28,146 - - - -

FUND BALANCES
Nonspendable 801 - 1,457 - -
Restricted 377,691 - 850,630 31,736 -
Unassigned (28,947) - - (205) -
Total Fund Balances (28,146) 852,087 377,691 (205) 31,736 Total Liabilities, Deferred Inflows of
Resources, and Fund Balances 28,947 $ 386,082 $ 964,656 $ 3,900 $ 214,957 $ City of La Puente
Combining Balance Sheet
Other Governmental Funds - Continued
June 30, 2023
Special Revenue Funds
72 2019A 2019B Citywide 2019A 2019B
Measure M Measure R Debt Service Measure M Measure R Total $ - - $ - $ - $ - $ 10,872,344 $
233,192 682,975 - - - 1,131,124
- - - - - 18,613
- - - - - 1,169,863
- - - - - 18,421
- - - - - 367,196
$ 233,192 682,975 $ - $ - $ - $ 13,577,561 $
$ - - $ - $ - $ - $ 775,636 $
- - - - - 407,194
14,348 14,369 - - 59,185 -
14,348 14,369 - - 1,242,015 -
- - - - 28,146 -
- - - - 28,146 -
- - - - 18,421 -
668,627 218,823 - - 12,318,131 -
- - - - (29,152) -
668,627 218,823 - - 12,307,400 -
$ 682,975 $ 233,192 $ - $ - $ 13,577,561 - $
Capital Projects Debt Service
73 City of La Puente
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Other Governmental Funds
Year Ended June 30, 2023
Gas PEG State
Tax Measure M Prop C Access COPS

REVENUES
Taxes $ - $ - $ - $ - $ -
Intergovernmental 1,995,980 741,291 873,993 165,271 -
Charges for Services - - 36,799 - -
Investment Income 17,674 9,319 28,542 665 -
Other Revenue 1,883 - - - -
Total Revenues 2,015,537 750,610 902,535 37,464 165,271

EXPENDITURES
Current:

General Government - - 19,942 - -
Public Safety - - - 165,271 -
Public Works 1,153,767 155,388 47,117 - -
Community Development - - - - -
Capital Outlay 6,560 196,951 118,900 - -
Interest and Fiscal Charges - - - - -
Principal - - - - -
Total Expenditures 1,160,327 352,339 166,017 19,942 165,271 Excess (Deficiency) of Revenues
Over (Under) Expenditures 855,210 398,271 736,518 17,522 -

OTHER FINANCING SOURCES (USES)
Transfers In - 17,400 - - -
Transfers Out - (262,838) - - -
Total Other Financing Sources (Uses) - (262,838) 17,400 - - Net Change in Fund Balances 855,210 135,433 753,918 17,522 - Fund Balances, Beginning of Year 1,534,996 807,962 2,645,228 69,522 - Fund Balances, End of Year 2,390,206 $ 943,395 $ 3,399,146 $ 87,044 $ - $ Special Revenue
74 JAG Cal-HOME CDBG Air Quality Prop. A
Grant Grant Grant Improvement Measure R Transportation Housing $ - $ - $ - $ - $ - $ - $ -
22,371 296,266 - 62,801 655,306 1,053,674 -
- - 31,958 - 38,108 - -
- 6,133 217 1,280 6,708 9,194 4,024
- - - - - - -
22,371 6,133 296,483 96,039 662,014 1,100,976 4,024
- - - - - - -
10,824 - - - - - -
- - - 124 141,113 - -
- 3,385 296,483 - 1,043,832 - -
- - - 347,607 - 421,464 -
- - - - - - -
- - - - - - -
10,824 3,385 296,483 124 488,720 1,465,296 -
11,547 2,748 95,915 - 173,294 (364,320) 4,024
- - - - - 80,503 -
- - - (288,687) - - -
- - - (288,687) - 80,503 -
11,547 2,748 95,915 - (115,393) (364,320) 84,527
(11,547) 1,430,386 84,034 - 636,993 1,125,039 387,067
$ 1,433,134 - $ $ 179,949 - $ $ 521,600 $ 760,719 $ 471,594 Continued
Special Revenue
75 City of La Puente
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Other Governmental Funds - Continued
Year Ended June 30, 2023
Measure Measure HSIP Capital
A W LLMD Grant Projects

REVENUES
Taxes $ - $ 996,193 - $ $ - $ -
Intergovernmental 74,137 344,106 - 3,900 -
Charges for Services - - - - -
Investment Income - 2,960 6,742 - 37
Other Revenue - 54,537 - - -
Total Revenues 74,137 347,066 1,057,472 3,900 37

EXPENDITURES
Current:

General Government - - - - -
Public Safety - - - - -
Public Works 66,816 - - - -
Community Development 28,146 989,112 - - -
Capital Outlay - - - 4,105 1,752,277
Interest and Fiscal Charges - - - - 4,213
Principal - - - - 49,074
Total Expenditures 28,146 66,816 989,112 4,105 1,805,564 Excess (Deficiency) of Revenues
Over (Under) Expenditures 45,991 280,250 68,360 (205) (1,805,527)

OTHER FINANCING SOURCES (USES)
Transfers In - - - - 580,030
Transfers Out - - - - (15,382)
Total Other Financing Sources (Uses) - - - - 564,648
Net Change in Fund Balances 45,991 280,250 68,360 (205) (1,240,879) Fund Balances, Beginning of Year (74,137) 97,441 783,727 1,272,615 - Fund Balances, End of Year $ (28,146) $ 377,691 $ 852,087 $ (205) $ 31,736 Special Revenue
76 2019A 2019B Citywide 2019A 2019B
Measure M Measure R Debt Service Measure M Measure R Total $ - - $ - $ - $ - $ 996,193 $
- - - - - 6,289,096
- - - - - 106,865
18 42 - - - 93,555
- - - - - 56,420
18 42 - - - 7,542,129
- - - - - 19,942
- - - - - 176,095
- - - - - 1,564,325
- - - - - 2,360,958
142,270 142,270 - - - 3,132,404
- - 346,699 112,838 100,400 564,150
- - 397,102 150,000 135,000 731,176
142,270 142,270 743,801 262,838 235,400 8,549,050
(142,252) (142,228) (743,801) (262,838) (235,400) (1,006,921) - - 743,801 262,838 235,400 1,919,972
- - - - (566,907) -
- 743,801 - 262,838 235,400 1,353,065
(142,228) (142,252) - - 346,144 -
810,855 361,075 - - 11,961,256 -
$ 668,627 $ 218,823 $ - $ - $ 12,307,400 - $
Capital Projects Debt Service
77 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 2,075,200 $ 1,995,980 $ (79,220) $
Investment Income 4,000 17,674 13,674
Other Income 500 1,883 1,383
Total Revenues 2,079,700 2,015,537 (64,163)

EXPENDITURES
Current:

Public Works 1,183,800 1,153,767 30,033
Capital Outlay 1,254,000 6,560 1,247,440
Total Expenditures 2,437,800 1,160,327 1,247,440
Excess (Deficiency) of Revenues
Over (Under) Expenditures (358,100) 855,210 1,213,310

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (358,100) 855,210 1,213,310 Fund Balance, Beginning of Year 1,534,996 1,534,996 -
Fund Balance, End of Year 1,176,896 $ 2,390,206 $ 1,213,310 $ City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Gas Tax Fund
Year Ended June 30, 2023
78 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 689,500 $ 741,291 $ 51,791 $
Investment Income 3,000 9,319 6,319
Total Revenues 692,500 750,610 58,110

EXPENDITURES
Current:

Public Works 223,700 155,388 68,312
Capital Outlay 872,300 196,951 675,349
Total Expenditures 1,096,000 352,339 675,349
Excess (Deficiency) of Revenues
Over (Under) Expenditures (403,500) 398,271 801,771

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out (262,800) (262,838) (38)
Total Other Financing Sources (Uses) (262,800) (262,838) (38) Net Change in Fund Balances (666,300) 135,433 801,733
Fund Balance, Beginning of Year 807,962 807,962 -
Fund Balance, End of Year 141,662 $ 943,395 $ 801,733 $ City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Measure M Fund
Year Ended June 30, 2023
79 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 811,200 $ 873,993 $ 62,793 $
Investment Income 8,000 28,542 20,542
Total Revenues 819,200 902,535 83,335

EXPENDITURES
Current:

Public Works 77,500 47,117 30,383
Capital Outlay 1,000,000 118,900 881,100
Total Expenditures 1,077,500 166,017 881,100
Excess (Deficiency) of Revenues
Over (Under) Expenditures (258,300) 736,518 994,818

OTHER FINANCING SOURCES (USES)
Transfers In - 17,400 17,400
Transfers Out - - -
Total Other Financing Sources (Uses) - 17,400 17,400
Net Change in Fund Balances (258,300) 753,918 1,012,218 Fund Balance, Beginning of Year 2,645,228 2,645,228 -
Fund Balance, End of Year 2,386,928 $ 3,399,146 $ 1,012,218 $ City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Prop C Fund
Year Ended June 30, 2023
80 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Charges for Services 35,000 $ 36,799 $ 1,799 $
Investment Income 600 665 65
Total Revenues 35,600 37,464 1,864

EXPENDITURES
Current:

General Government 28,000 19,942 8,058
Capital Outlay - - -
Total Expenditures 28,000 19,942 8,058
Excess (Deficiency) of Revenues
Over (Under) Expenditures 7,600 17,522 9,922

OTHER FINANCING SOURCES (USES)
Transfers Out - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances 7,600 17,522 9,922
Fund Balance, Beginning of Year 69,522 69,522 -
Fund Balance, End of Year $ 77,122 $ 87,044 $ 9,922
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - PEG Access Fund
Year Ended June 30, 2023
81 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 160,000 $ 165,271 $ 5,271 $
Total Revenues 160,000 165,271 5,271

EXPENDITURES
Current:

Public Safety 160,000 165,271 (5,271)
Total Expenditures 160,000 165,271 (5,271)
Excess (Deficiency) of Revenues
Over (Under) Expenditures - - -

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances - - -
Fund Balance, Beginning of Year - - -
Fund Balance, End of Year - $ - $ - $
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Year Ended June 30, 2023
Budget and Actual - State COPS Fund
82 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 11,200 $ 22,371 $ 11,171 $
Total Revenues 11,200 22,371 11,171

EXPENDITURES
Current:

Public Safety 11,200 10,824 376
Total Expenditures 11,200 10,824 376
Excess (Deficiency) of Revenues
Over (Under) Expenditures 11,547 - 11,547

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances 11,547 - 11,547
Fund Balance, Beginning of Year (11,547) (11,547) -
Fund Balance, End of Year $ (11,547) $ 11,547 - $
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - JAG Grant Fund
Year Ended June 30, 2023
83 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Investment Income 2,000 $ 6,133 $ 4,133 $
Total Revenues 2,000 6,133 4,133

EXPENDITURES
Current:

Community Development 155,000 3,385 151,615
Total Expenditures 155,000 3,385 151,615
Excess (Deficiency) of Revenues
Over (Under) Expenditures (153,000) 2,748 155,748

OTHER FINANCING SOURCES (USES)
Transfers Out (9,000) 9,000 -
Total Other Financing Sources (Uses) (9,000) 9,000 -
Net Change in Fund Balances (162,000) 2,748 164,748
Fund Balance, Beginning of Year 1,430,386 1,430,386 -
Fund Balance, End of Year $ 1,268,386 $ 1,433,134 $ 164,748 City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Cal-HOME Grant Fund
Year Ended June 30, 2023
84 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 445,600 $ 296,266 $ (149,334) $
Investment Income 600 217 (383)
Total Revenues 446,200 296,483 (149,717)

EXPENDITURES
Current:

Community Development 445,600 296,483 149,117
Total Expenditures 445,600 296,483 149,117
Excess (Deficiency) of Revenues
Over (under) Expenditures 600 - (600)

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balance 600 - (600)
Fund Balance, Beginning of Year - - -
Fund Balance, End of Year $ 600 $ - $ (600)
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - CDBG Grant Fund
Year Ended June 30, 2023
85 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 76,000 $ 62,801 $ (13,199) $
Charges for Services - 31,958 31,958
Investment Income 1,000 1,280 280
Total Revenues 77,000 96,039 19,039

EXPENDITURES
Current:

Public Works 1,100 124 976
Capital Outlay 150,600 - 150,600
Total Expenditures 151,700 151,576 124
Excess (Deficiency) of Revenues
Over (Under) Expenditures (74,700) 95,915 170,615

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (74,700) 95,915 170,615
Fund Balance, Beginning of Year 84,034 84,034 -
Fund Balance, End of Year $ 9,334 $ 179,949 $ 170,615
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Air Quality Improvement Fund
Year Ended June 30, 2023
86 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 608,400 $ 655,306 $ 46,906 $
Investment Income 3,000 6,708 3,708
Total Revenues 611,400 662,014 50,614

EXPENDITURES
Current:

Public Works 221,000 141,113 79,887
Capital Outlay 798,700 347,607 451,093
Total Expenditures 1,019,700 488,720 530,980
Excess (Deficiency) of Revenues
Over (Under) Expenditures (408,300) 173,294 581,594

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out (288,700) (288,687) 13
Total Other Financing Sources (Uses) (288,700) (288,687) 13 Net Change in Fund Balances (697,000) (115,393) 581,607 Fund Balance, Beginning of Year 636,993 636,993 -
Fund Balance, End of Year $ (60,007) $ 521,600 $ 581,607 City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Measure R Fund
Year Ended June 30, 2023
87 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 978,000 $ 1,053,674 $ 75,674 $
Charges for Services 51,500 38,108 (13,392)
Investment Income 4,000 9,194 5,194
Total Revenues 1,033,500 1,100,976 67,476

EXPENDITURES
Current:

Community Development 1,017,500 1,043,832 (26,332)
Capital Outlay 401,200 421,464 (20,264)
Total Expenditures 1,418,700 1,465,296 (46,596)
Excess (Deficiency) of Revenues
Over (Under) Expenditures (385,200) (364,320) 20,880

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (385,200) (364,320) 20,880
Fund Balance, Beginning of Year 1,125,039 1,125,039 -
Fund Balance, End of Year $ 739,839 $ 760,719 $ 20,880
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Prop A Transportation Fund
Year Ended June 30, 2023
88 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Investment Income 1,000 $ 4,024 $ 3,024 $
Total Revenues 1,000 4,024 3,024

EXPENDITURES
Current:

Community Development - - -
Capital Outlay - - -
Total Expenditures - - -
Excess (Deficiency) of Revenues
Over (Under) Expenditures 1,000 4,024 3,024

OTHER FINANCING SOURCES (USES)
Transfers In 80,500 80,503 3
Total Other Financing Sources (Uses) 80,500 80,503 3
Net Change in Fund Balances 81,500 84,527 3,027
Fund Balance, Beginning of Year 387,067 387,067 -
Fund Balance, End of Year $ 468,567 $ 471,594 $ 3,027
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Housing Fund
Year Ended June 30, 2023
89 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 27,200 $ 74,137 $ 46,937 $
Total Revenues 27,200 74,137 46,937

EXPENDITURES
Current:

Community Development 27,200 28,146 (946)
Capital Outlay - - -
Total Expenditures 27,200 28,146 (946)
Excess (Deficiency) of Revenues
Over (Under) Expenditures 45,991 - 45,991

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances 45,991 - 45,991
Fund Balance, Beginning of Year (74,137) (74,137) -
Fund Balance, End of Year $ (74,137) $ (28,146) $ 45,991 City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Measure A
Year Ended June 30, 2023
90 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 340,000 $ 344,106 $ 4,106 $
Investment Income 500 2,960 2,460
Total Revenues 340,500 347,066 6,566

EXPENDITURES
Current:

Public Works 95,000 66,816 28,184
Capital Outlay - - -
Total Expenditures 95,000 66,816 28,184
Excess (Deficiency) of Revenues
Over (Under) Expenditures 245,500 280,250 34,750

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances 245,500 280,250 34,750
Fund Balance, Beginning of Year 97,441 97,441 -
Fund Balance, End of Year $ 342,941 $ 377,691 $ 34,750
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Measure W
Year Ended June 30, 2023
91 City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Lighting and Landscape Maintenance District Fund Year Ended June 30, 2023
Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Taxes 915,300 $ 996,193 $ 80,893 $
Investment Income 5,000 6,742 1,742
Other Revenue - 54,537 54,537
Total Revenues 920,300 1,057,472 137,172

EXPENDITURES
Current:

Community Development 942,700 989,112 (46,412)
Capital Outlay - - -
Total Expenditures 942,700 989,112 (46,412)
Excess (Deficiency) of Revenues
Over (under) Expenditures (22,400) 68,360 90,760

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (22,400) 68,360 90,760
Fund Balance, Beginning of Year 783,727 783,727 -
Fund Balance, End of Year $ 761,327 $ 852,087 $ 90,760
92 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 786,000 $ 3,900 $ (782,100) $
Investment Income - - -
Total Revenues 786,000 3,900 (782,100)

EXPENDITURES
Current:

Public Works - - -
Capital Outlay 786,000 4,105 781,895
Total Expenditures 786,000 4,105 781,895
Excess (Deficiency) of Revenues
Over (Under) Expenditures - (205) (205)

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances - (205) (205)
Fund Balance, Beginning of Year - - -
Fund Balance, End of Year $ - $ (205) $ (205)
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - HSIP Grant
Year Ended June 30, 2023
93 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Investment Income - $ 37 $ 37 $
Total Revenues - 37 37

EXPENDITURES
Capital Outlay 607,100 1,752,277 (1,145,177)
Debt Service:

Bond Issuance Costs - - -
Interest and Fiscal Charges 4,213 - (4,213)
Principal 53,500 49,074 4,426
Total Expenditures 660,600 1,805,564 (1,144,964)
Excess (Deficiency) of Revenues
Over (Under) Expenditures (660,600) (1,805,527) (1,144,927)

OTHER FINANCING SOURCES (USES)
Transfers In 53,300 580,030 526,730
Transfers Out (15,382) - (15,382)
Issuance of Debt - - -
Total Other Financing Sources (Uses) 53,300 564,648 511,348 Net Change in Fund Balances (607,300) (1,240,879) (633,579) Fund Balance, Beginning of Year 1,272,615 1,272,615 -
Fund Balance, End of Year $ 665,315 $ 31,736 $ (633,579) City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Capital Projects Fund
Year Ended June 30, 2023
94 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Investment Income - $ 42 $ 42 $
Total Revenues - 42 42

EXPENDITURES
Capital Outlay 1,065,300 142,270 923,030
Total Expenditures 1,065,300 142,270 923,030
Excess (Deficiency) of Revenues
Over (Under) Expenditures (1,065,300) (142,228) 923,072

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (1,065,300) (142,228) 923,072 Fund Balance, Beginning of Year 810,855 810,855 -
Fund Balance, End of Year $ (254,445) $ 668,627 $ 923,072 City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - 2019A Measure M Capital Projects Fund Year Ended June 30, 2023
95 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Investment Income - $ 18 $ 18 $
Total Revenues - 18 18

EXPENDITURES
Capital Outlay 613,200 142,270 470,930
Total Expenditures 613,200 142,270 470,930
Excess (Deficiency) of Revenues
Over (Under) Expenditures (613,200) (142,252) 470,948

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (613,200) (142,252) 470,948 Fund Balance, Beginning of Year 361,075 361,075 -
Fund Balance, End of Year $ (252,125) $ 218,823 $ 470,948 City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - 2019B Measure R Capital Projects Fund Year Ended June 30, 2023
96 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Investment Income - $ - $ - $
Total Revenues - - -

EXPENDITURES
Debt Service:

Interest and Fiscal Charges 346,700 346,699 1
Principal 397,100 397,102 (2)
Total Expenditures 743,800 743,801 (1)
Excess (Deficiency) of Revenues
Over (Under) Expenditures (743,800) (743,801) (1)

OTHER FINANCING SOURCES (USES)
Transfers In 743,800 743,801 1
Total Other Financing Sources (Uses) 743,800 743,801 1
Net Change in Fund Balances - - -
Fund Balance, Beginning of Year - - -
Fund Balance, End of Year $ - $ - $ -
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Citywide Debt Service Fund
Year Ended June 30, 2023
97 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Investment Income - $ - $ - $
Total Revenues - - -

EXPENDITURES
Debt Service:

Interest and Fiscal Charges 112,800 112,838 (38)
Principal 150,000 150,000 -
Total Expenditures 262,800 262,838 (38)
Excess (Deficiency) of Revenues
Over (Under) Expenditures (262,800) (262,838) (38)

OTHER FINANCING SOURCES (USES)
Transfers In 262,800 262,838 38
Total Other Financing Sources (Uses) 262,800 262,838 38 Net Change in Fund Balances - - -
Fund Balance, Beginning of Year - - -
Fund Balance, End of Year $ - $ - $ -
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - 2019A Measure M Debt Service Fund
Year Ended June 30, 2023
98 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Investment Income - $ - $ - $
Total Revenues - - -

EXPENDITURES
Debt Service:

Interest and Fiscal Charges 100,400 100,400 -
Principal 135,000 135,000 -
Total Expenditures 235,400 235,400 -
Excess (Deficiency) of Revenues
Over (Under) Expenditures (235,400) (235,400) -

OTHER FINANCING SOURCES (USES)
Transfers In 235,400 235,400 -
Total Other Financing Sources (Uses) 235,400 235,400 -
Net Change in Fund Balances - - -
Fund Balance, Beginning of Year - - -
Fund Balance, End of Year $ - $ - $ -
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - 2019B Measure R Debt Service Fund
Year Ended June 30, 2023
99 STATISTICAL SECTION
City of La Puente
Description of Statistical Section Contents
June 30, 2023
This part of the City of La Puente's Annual Comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information say about the government's overall financial health.

Contents: Pages

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

101

Revenue Capacity these schedules contain information to help the reader assess the City's most significant local revenue source, the property tax

112

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

116

Demographic and Economic Information these schedules offer demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place

120

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

123
100
2014 2015 2016 2017
Governmental Activities:

Net investment in capital assets $ 27,186,259 $ 27,804,320 $ 27,632,187 $ 26,447,434 Restricted for:

Public Safety 38,823 30,021 23,020 19,638
Public Works 2,278,943 2,934,848 1,585,690 1,606,651
Community Development 723,622 1,041,358 1,310,428 2,061,170 Housing - - - -
Street Projects - - - -
Total Restricted 3,041,388 4,006,227 2,919,138 3,687,459 Unrestricted 5,316,550 15,107,425 17,428,553 16,917,773 Total governmental activities net position 35,544,197 $ $ 46,917,972 $ 47,979,878 $ 47,052,666 Business-type Activities
Net investment in capital assets 2,070,787 $ 2, $ 2, 104,573 $ 1, 148,360 $ 505,872 Restricted 3,250,778 3,654,183 4,010,624 5,115,463
Total business-type activities net position 5,321,565 $ $ 5,758,756 $ 6,158,984 $ 6,621,335 Primary Government
Net investment in capital assets 29,257,046 $ 29, $ 29, 908,893 $ 27, 780,547 $ 953,306 Restricted 6,292,166 7, 6, 660,410 8, 929,762 802,922
Unrestricted 5,316,550 15,107,425 17,428,553 16,917,773 Total Primary Government Net Position 40,865,762 $ $ 52,676,728 $ 54,138,862 $ 53,674,001 Source: Statement of Net Position
Fiscal Year
City of La Puente, California
Net Position by Component
Last Ten Fiscal Years
101
2018 2019 2020 2021 2022 2023
$ 33,484,552 $ 33,313,131 $ 34,704,073 $ 38,528,613 $ 42,488,052 $ 45,311,834 19,924 - - - - -
1,025,664 1,692,971 2,019,337 1,797,385 2,569,994 2,225,714 4,479,500 465,431 588,724 444,356 960,587 644,684
1, - 594,037 1,666,795 1,747,011 1,817,453 1,904,728
3,029,306 - 5,066,769 1,524,428 3,945,973 5,757,889
5,525,088 6,781,745 9,341,625 5,513,180 9,294,007 10,533,015 16,458,039 18,697,664 20,263,419 23,624,236 26,693,694 29,962,886 $ 55,467,679 $ 58,792,540 $ 64,309,117 $ 67,666,029 $ 78,475,753 $ 85,807,735 $ 2, 2,219,774 $ 5, 372,895 $ 6, 380,080 $ 6, 616,010 $ 6, 074,011 $ 165,403 4,935,754 5,540,306 3,218,292 1,919,592 2,318,783 2,589,890 $ 7,155,528 $ 7,913,201 $ 8,598,372 $ 8,535,602 $ 8,392,794 $ 8,755,293 $ 35,686,026 35,704,326 $ 40, $ 45, 084,153 $ 48, 144,623 $ 51, 562,063 $ 477,237 12, 10,460,842 12, 322,051 7, 559,917 11, 432,772 13, 612,790 122,905 16,458,039 18,697,664 20,263,419 23,624,236 26,693,694 29,962,886 $ 62,623,207 $ 66,705,741 $ 72,907,489 $ 76,201,631 $ 86,868,547 $ 94,563,028 Fiscal Year
102
2014 2015 2016 2017
Expenses
Governmental activities:

General Government $ 3,480,756 $ 2,422,592 $ 2,040,261 $ 3,344,530 Public Safety 5,000,488 5,563,600 5,845,736 6,110,053
Public Works 2,276,659 1,045,925 1,028,734 2,653,875
Recreation/Senior Services 1,772,731 1,910,777 2,049,066 2,085,167 Community Development 2,637,299 2,618,301 3,897,493 2,504,463 Interest on Long-Term Debt 330,960 229,495 244,320 336,720 Total governmental activities expenses 15,498,893 13,790,690 15,105,610 17,034,808 Business-type activities:

Sewer Maintenance 760,016 927,904 963,029 900,170
Total business-type activities expenses 760,016 927,904 963,029 900,170 Total primary government expenses 16,258,909 $ $ 14,718,594 $ 16,068,639 $ 17,934,978 Program Revenue
Governmental activities:

Charges for services:

General Government 60,688 $ 435,660 $ 507,302 $ 284,416 $ Public Safety 498,247 459,251 319,773 496,926
Public Works 197,430 - - 3,945
Recreation/Senior Services 265,538 272,093 202,313 188,577 Community Development 743,979 674,198 1,060,915 986,792 Operating Grants and Contributions 2,142,823 1,734,036 1,818,607 649,068 Capital Grants and Contributions 1,919,871 2,333,169 2,413,878 2,755,890 Total governmental activities program revenues 5,828,576 5,908,407 6,322,788 5,365,614 Business-type activities:

Charges for services: 1,347,146 1,325,685 1,323,874 1,302,664 Total business-type activities program revenues 1,347,146 1,325,685 1,323,874 1,302,664 Total primary government program revenues 7,175,722 $ $ 7,234,092 $ 7,646,662 $ 6,668,278 Fiscal Year
City of La Puente, California
Changes in Net Position
Last Ten Fiscal Years
103
2018 2019 2020 2021 2022 2023
$ 2,414,218 $ 2,614,669 $ 2,716,718 $ 3,102,274 $ 1,332,903 $ 4,207,043 7,039,317 7,210,847 7,714,703 8,117,393 9,408,249 9,716,603 3,235,695 2,482,313 2,438,985 5,086,569 2,215,979 3,950,448 1,994,224 2,056,944 2,159,441 2,130,122 2,504,741 4,269,848 3,329,047 3,288,029 3,790,988 4,292,118 4,904,341 8,077,736 19,021 - 153,881 298,426 553,899 528,814
18,012,501 17,671,823 18,974,716 23,026,902 20,920,112 30,750,492 862,198 855,985 804,470 1,525,210 849,464 1,010,037
862,198 855,985 804,470 1,525,210 849,464 1,010,037
$ 18,874,699 $ 18,527,808 $ 19,779,186 $ 24,552,112 $ 21,769,576 $ 31,760,529 $ 289,146 $ 234,071 $ 285,480 $ 236,290 $ 187,548 $ 199,444 704,424 459,802 439,926 353,068 543,266 639,619
5,462 27,686 136,967 16,589 18,283 58,951
180,884 201,109 125,342 - 52,926 181,058
1,297,749 1,432,878 1,485,737 1,186,903 1,160,960 1,425,281 812,396 623,826 743,530 1,418,905 3,117,742 8,256,074
4,189,959 4,190,243 5,360,957 6,127,848 10,241,303 9,900,343 7,169,615 7,480,020 8,577,939 9,339,603 15,322,028 20,660,770 1,325,479 1,519,628 1,394,987 1,413,471 1,323,815 1,349,215 1,325,479 1,519,628 1,394,987 1,413,471 1,323,815 1,349,215 $ 8,805,499 $ 8,689,243 $ 9,972,926 $ 10,753,074 $ 16,645,843 $ 22,009,985 Fiscal Year
104
2014 2015 2016 2017
Net (Expense)/Revenue
Government activities $ (7,882,283) $ (8,782,822) $ (11,669,194) $ (10,532,481) Business-type activities 397,781 360,845 402,494 463,281 Total primary government net expense (7,484,502) $ $ (8,421,977) $ (11,266,700) $ (10,069,200) General Revenues and Other Changes in Net Position
Governmental activities:

Taxes:

Property Taxes $ 4,793,494 $ 4,996,279 $ 5,336,924 $ 5,960,936 Franchise Taxes 942,507 974,152 888,514 941,026
Sales Taxes 1,782,617 2,040,668 2,593,802 3,060,517
Property Transfer Tax 53,669 52,324 84,006 75,968
Transient Occupancy Taxes 192,100 207,306 227,690 240,696 Business License Taxes 92,207 91,025 98,671 119,792
In-Lieu Sales Tax 572,155 612,837 616,383 -
Total taxes 8,427,404 8,975,936 9,845,990 10,398,935
Intergovernmental 124,139 - - -
Investment Income 114,002 423,177 569,168 260,984
Miscellaneous Revenues 98,793 284,213 493,306 82,063
Transfers - - - -
Total Governmental activities 8,764,338 9,683,326 10,908,464 10,741,982 Special Item - Distribution from Los Angeles
County for Lighting Maintenance District - - - -
Business-type activities:

Total business-type activities 20,201 39,410 5 39,383 9,857 Total primary government 8,784,539 $ $ 9,722,736 $ 10,947,847 $ 10,801,839 Change in Net Position
Governmental activities 882,055 $ $ 900,504 $ (760,730) $ 209,501 Business-type activities 417,982 400,255 441,877 523,138 Prior Period Adjustments 9,572,732 - - (1,063,736)
Total primary government 1,300,037 $ $ 10,873,491 $ (1,382,589) $ 732,639 Source: Statement of Activities
Fiscal Year
City of La Puente, California
Changes in Net Position (Continued)
Last Ten Fiscal Years
105
2018 2019 2020 2021 2022 2023
$ (10,502,208) $ (10,502,208) $ (10,396,777) $ (13,687,299) $ (5,598,084) $ (10,089,722) 663,643 663,643 590,517 (111,739) 474,351 339,178
$ (9,838,565) $ (9,838,565) $ (9,806,260) $ (13,799,038) $ (5,123,733) $ (9,750,544) $ 7,014,532 6,681,270 $ 7,391,137 $ 7,756,848 $ 8,081,850 $ 8,587,483 $ 1,024,742 1,023,365 1,000,525 1,059,799 1,113,913 1,230,870 4,082,950 3,150,107 5,928,799 7,065,541 7,452,307 7,016,290 66,951 86,091 63,652 70,989 101,229 68,608
240,783 238,611 217,209 205,661 282,519 273,649
144,822 120,357 146,475 149,476 173,166 168,172
- - - - - -
11,299,801 12,574,780 14,747,797 16,308,314 17,204,984 17,345,072 - - - - - -
943,308 246,179 1,009,858 577,290 (1,472,969) (49,336)
308,981 43,880 155,699 158,607 39,954 125,968
- - - - 635,839 -
11,589,860 13,827,069 15,913,354 17,044,211 16,407,808 17,421,704 - 9,484,683 - - - -
70,912 94,030 94,654 48,969 2 (617,159) 3,321
$ 21,145,455 $ 13,921,099 $ 16,008,008 $ 17,093,180 $ 15,790,649 $ 17,445,025 $ 3,324,861 10,572,335 $ 5,516,577 $ 3,356,912 $ 10,809,724 $ 7,331,982 $ 757,673 734,555 685,171 (62,770) (142,808) 362,499
- (2,127,049) - - - -
$ 9,179,841 $ 4,082,534 $ 6,201,748 $ 3,294,142 $ 10,666,916 $ 7,694,481 Fiscal Year
106
Transient Business In-Lieu
Fiscal Property Sales Franchise Property Occupancy License Sales Year Tax Tax Tax Transfer Tax Taxes Taxes Tax Total
2014 4,793,494 1,782,617 942,506 52,324 192,100 92,207 572,155 8,427,403 2015 4,996,279 2,040,668 974,152 53,669 207,306 91,025 612,837 8,975,936 2016 5,336,924 2,593,802 888,514 84,006 227,690 98,671 616,383 9,845,990 2017 5,960,936 3,060,517 941,026 75,968 240,696 119,792 - 10,398,935 2018 6,681,270 3,150,107 1,023,365 86,091 238,611 120,357 - 11,299,801 2019 7,014,532 4,082,950 1,024,742 66,951 240,783 144,822 - 12,574,780 2020 7,391,137 5,928,799 1,000,525 63,652 217,209 146,475 - 14,747,797 2021 7,756,848 7,065,541 1,059,799 70,989 205,661 149,476 - 16,308,314 2022 8,081,850 7,452,307 1,113,913 101,229 282,519 173,166 - 17,204,984 2023 8,587,483 7,016,290 1,230,870 68,608 273,649 168,172 - 17,345,072 Source: Statement of Activities
City of La Puente, California
Governmental Activities Tax Revenues by Source
Last Ten Fiscal Years
107
2014 2015 2016 2017
General Fund
Reserved $ - $ - $ - $ -
Unreserved - - - -
Total General Fund - $ - $ - $ - $
All other governmental funds
Reserved - $ - $ - $ - $
Unreserved, reported in:

Special Revenue Funds - - - -
Debt Service Fund - - - -
Capital Projects Funds - - - -
Total all other governmental funds - $ - $ - $ - $
General Fund
Nonspendable 1,103,523 $ 12,741,849 $ 11,813,032 $ 12,260,207 $ Restricted - - - -
Unrestricted:

Unassigned
General Fund 4,908,111 5,317,486 7,906,933 7,191,875
Total Fund Balances 6,011,634 $ $ 18,059,335 $ 19,719,965 $ 19,452,082 All other governmental funds
Nonspendable $ - $ - $ - $ -
Restricted 3,041,388 4,025,952 3,834,966 3,845,909
Unrestricted:

Unassigned - (132,247) (399,754) (2,107)
3,041,388 $ $ 3,893,705 $ 3,435,212 $ 3,843,802
Source: Balance Sheets - Governmental Funds
City of La Puente, California
Fund Balances of Governmental Funds
Last Ten Fiscal Years
Note: The City implemented GASB
Statement No. 54, Fund Balance
Fiscal Year
108
2018 2019 2020 2021 2022 2023
$ - $ - $ - $ - $ - $ -
- - - - - -
$ - - $ - $ - $ - $ - $
$ - - $ - $ - $ - $ - $
- - - - - -
- - - - - -
- - - - - -
$ - - $ - $ - $ - $ - $
$ 11,480,704 11,374,648 $ 10,788,035 $ 10,447,055 $ 10,162,906 $ 9,869,709 $ - - - - - -
7,997,394 9,772,265 14,055,671 16,431,295 15,915,585 20,796,132 $ 19,372,042 $ 21,252,969 $ 24,843,706 $ 26,878,350 $ 26,078,491 $ 30,665,841 $ - - $ 10,058 $ 9,737 $ 10,703 $ 18,421 $
8,323,281 7,008,355 16,200,511 13,416,579 12,036,237 12,318,131 (65,750) (4,976) (678,077) (93,053) (4,425,755) (1,935,598) $ 6,942,605 $ 8,318,305 $ 15,532,492 $ 13,333,263 $ 7,621,185 $ 10,400,954 Fiscal Year
109
2013 2014 2016 2017
Revenues:

Taxes $ 8,283,451 $ 8,427,404 $ 9,747,319 $ 10,346,934
Licenses and Permits 393,005 489,130 637,990 654,710
Intergovernmental 4,348,679 4,577,580 4,369,861 3,476,390 Charges for Services 942,820 933,451 1,108,498 938,295
Fines and Forfeitures 399,365 339,929 390,778 355,900
Investment Income 43,903 225,279 215,115 (40,600)
Other revenue 43,150 95,209 493,306 71,899
Total revenues 14,454,373 $ 15,087,982 $ 16,962,867 $ 15,803,528 Expenditures:

General Government 2,441,815 3,406,585 1,719,259 2,149,723 Public Safety 5,000,763 4,873,055 5,845,736 6,110,053
Public Works 1,305,707 1,625,091 1,128,999 1,223,303
Recreation/Senior Services 878,004 958,390 1,488,370 1,278,994 Community Development 1,940,182 2,488,043 2,011,353 2,464,330 Capital Outlay 2,138,224 2,369,863 3,089,542 2,737,027
Debt Service:

Interest & Fiscal Charges 588,235 158,195 254,320 346,640 Principal 670,659 1,055,000 625,000 620,000
Cost of Issuance - - - -
Total expenditures 15,067,520 16,830,291 16,162,579 16,930,070 Excess of revenues
over (under) expenditures (613,147) (1,742,309) 800,288 (1,126,542) Other Financing Sources (Uses)
Debt Issuance 9,945,000 - - -
Loan Proceeds (9,411,765) - 421,574 1,267,249
Premium on Bonds - - -
Transfers In 196,390 697,503 2,862 133,727
Transfers Out (296,390) (697,503) (2,862) (133,727)
Total Other Financing
Sources (Uses) - 433,235 421,574 1,267,249
Special / Extraordinary Items
Distribution from LA County for LLMD - - - -
Total Special / Extraordinary Items - - - -
Net change in fund balances $ (179,912) $ (1,742,309) $ 1,221,862 $ 140,707 Debt service as a percentage of noncapital
expenditures 9.74% 8.31% 6.13% 6.55%
Source: Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds Fiscal Year
City of La Puente, California
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
110
2018 2019 2020 2021 2022 2023
$ 11,234,442 $ 12,487,322 $ 14,659,701 $ 16,218,138 $ 17,091,807 $ 17,240,101 968,625 917,616 845,245 860,542 735,741 968,739
4,979,909 4,885,384 5,473,867 7,420,586 9,098,679 20,672,218 1,125,664 1,135,489 1,258,641 747,198 814,512 1,004,804 334,811 351,735 300,067 253,437 422,109 530,934
(42,381) 685,509 819,480 270,485 (1,834,314) (276,323)
27,633 283,856 155,776 87,404 34,090 108,973
$ 18,628,703 $ 20,746,911 $ 23,512,777 $ 25,857,790 $ 26,362,624 $ 40,249,446 2,582,672 2,388,937 2,523,190 10,840,427 2,914,249 2,892,859 7,210,847 7,039,317 7,714,703 8,117,393 9,408,249 9,716,603 1,415,086 1,350,238 1,771,627 1,998,352 2,013,832 2,156,831 1,266,993 1,207,305 1,414,574 1,386,410 1,587,332 1,903,282 3,247,896 3,277,699 3,445,500 4,261,951 5,648,563 7,466,550 1,588,158 2,672,579 2,956,929 6,761,328 13,738,685 7,161,815 19,021 37,281 134,262 321,676 482,503 564,150
189,721 7,204,097 413,591 313,752 692,586 731,176
- - 143,849 230,965 - 47,418
25,177,453 17,520,394 20,518,225 34,232,254 36,533,417 32,593,266 (6,548,750) 3,226,517 2,994,552 (8,374,464) (10,170,793) 7,656,180 - - 7,380,000 8,517,708 3,758,856 -
30,110 82,830 - - - -
- - 430,372 - - -
321,604 331,841 628,647 910,821 1,327,101 6,787,044
(331,841) (321,604) (628,647) (1,218,650) (1,427,101) (7,076,105) 30,110 82,830 7,810,372 8,209,879 3,658,856 (289,061)
- 9,484,683 - - - -
- 9,484,683 - - - -
$ 3,018,763 $ 3,256,627 $ 10,804,924 $ (164,585) $ (6,511,937) $ 7,367,119

30.98% 1.30% 2.83% 2.01% 3.66% 6.55%
Fiscal Year
111
Total Taxable
Fiscal Less: Assessed Total Direct
Year Residential Commercial Industrial Other Tax Exempt Value Tax Rate 2013 1,372,048,956 240,616,336 22,688,117 76,877,520 (9,079,536) 1,703,151,393 0.11113% 2014 1,451,168,711 253,204,927 23,578,548 65,262,798 (9,079,536) 1,793,214,984 0.06478% 2015 1,538,326,262 256,091,046 23,804,101 64,589,834 (9,079,536) 1,882,811,243 0.06486% 2016 1,620,353,447 270,292,517 24,210,705 65,304,980 (9,079,536) 1,980,161,649 0.06491% 2017 1,717,162,394 292,845,791 25,643,057 71,227,609 (8,365,536) 2,106,878,851 0.64980% 2018 1,793,686,423 310,885,940 28,732,254 70,975,250 (8,383,449) 2,204,279,867 0.10187% 2019 1,884,223,438 322,438,855 29,306,878 77,946,527 (8,383,449) 2,313,915,698 0.10106% 2020 1,988,742,347 337,655,218 30,642,798 72,027,974 (8,383,449) 2,429,068,337 0.10223% 2021 2,089,193,961 345,305,201 31,414,746 72,313,776 (8,383,449) 2,538,227,684 0.10249% 2022 2,186,241,371 364,379,633 31,740,184 72,045,417 (8,383,449) 2,654,406,605 0.10107% 2023 2,318,429,535 381,334,391 36,637,958 69,876,365 (8,383,449) 2,806,278,249 0.10105% Source: HdL, Coren & Cone; L.A. County Assessor 2021/22 Combined Tax Rolls Assessed Values
City of La Puente, California
Assessed Value of Taxable Property by Use
Last Ten Fiscal Years
112
Agency 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 Basic Levy¹ 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 Bassett Unified School Dist 0.11632 0.11539 0.15770 0.16781 0.17443 0.16349 0.14196 0.14705 0.13911 0.13876 Hacienda-La Puente Unified 0.06653 0.06432 0.06394 0.06600 0.10531 0.10706 0.08252 0.08261 0.08511 0.08491 Metropolitan Water District 0.00350 0.00350 0.00350 0.00350 0.00035 0.00350 0.00350 0.00350 0.00350 0.00350 Mt. San Antonio College 0.02023 0.02129 0.02154 0.02400 0.02371 0.02435 0.04781 0.04459 0.04608 0.04267 Rowland Heights Unified 0.12297 0.14313 0.12426 0.10939 0.11841 0.11861 0.10760 0.10905 0.00000 0.00000 Rowland USD DS 2012 Series B 0.00000 0.00000 0.00000 0.01505 0.00000 0.00000 0.00000 0.00000 0.11128 0.10909 West Covina Unified 0.03626 0.05412 0.04205 0.04914 0.09514 0.09795 0.08192 0.09980 0.07968 0.09317 Total Direct & Overlapping² Tax Rates 1.36581 1.40175 1.41299 1.43489 1.52050 1.51496 1.46531 1.48659 1.46475 1.47210 City's Share of 1% Levy Per Prop 13³ 0.06582 0.06582 0.06582 0.06582 0.10072 0.10072 0.10072 0.10072 0.10072 0.10072 Redevelopment Rate⁴ n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Total Direct Rate⁵ 0.06478 0.06478 0.06491 0.06498 0.10187 0.10117 0.10223 0.10249 0.10107 0.10105 n/a - not applicable
This report is not to be used in support of debt
issuance or continuing disclosure statements without
the written consent of HdL, Coren & Cone
Notes:
¹In 1978, California voters passed Proposition 13 which set the property tax rate at a

1.00% fixed amount. This 1.00% is shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of any voter approved bonds.
²Overlapping 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. ³City's Share of 1% Levy is based on the City's share of the general fund tax rate area with the largest net taxable value within the city. ERAF general fund tax shifts may not be included in tax ratio figues.
⁴Redevelopment Rate is based on the largest RDA tax rate area and includes only rate(s) from indebtedness adopted prior to 1989 per California State statute. RDA direct and overlapping rates are applied only to the incremental property values. The approval of ABX1 26 eliminated Redevelopment from the State of California for the fiscal year 2012/2013 and years thereafter.
⁵Total Direct Rate is the weighted average of all individual direct rates applied by the government preparing the statistical section information. Beginning 2013/14 the Total Direct Rate no longer includes revenue generated from the former redevelopment tax rate areas. Challenges to recognized enforceable oblications are assumed to have been resolved during 2012/13. For the purposes of this report, residual revenue is assumed to be distributed to the City in the same proportions as general fund revenue.

Data Source: L. A. County Assessor 2013/14 -
2022/23 Tax Rate Table
City of La Puente, California
Property Tax Rates
Direct and Overlapping Governments
Last Ten Fiscal Years
Fiscal Year
113
% of % of
Total Total
Taxable Taxable Taxable Taxable
Taxpayer AV Rank AV AV Rank AV
Hacienda Plaza JPS LLC $ 30,398,000 1 1.70% 42,609,789 $ 1 1.52% Camellia 19 LP - - - 34,722,886 2 1.24%
Group X Rosemead Properties LP 22,133,709 2 1.24% 25,678,287 3 0.92% La Puente 104 LLC - - - 22,049,937 4 0.79%
Laurala Limited 11,251,808 7 0.63% 19,219,490 5 0.68%
Haeri Hacienda Plaza LLC 15,456,927 3 0.87% 17,936,251 6 0.64% Unruh LLC - - - 16,538,644 7 0.59%
13925 E Amar Rd LLC - - - 14,392,308 8 0.51%
Walnut Apartments 11,048,226 8 0.62% 12,809,511 9 0.46% Wind Chime Properties LP 10,693,097 9 0.60% 12,408,284 10 0.44% Sunkist Shopping Center Limited 13,097,742 4 0.73% - - - Jasmine Real Estate Investments LLC 11,922,600 5 0.67% - - - Villa Las Brisas LLC 11,743,986 6 0.66% - - -
Time Warner NY Cable LLC 8,392,492 10 0.47% - - -
Top Ten Total $ 146,138,587 8.19% $ 218,365,387 7.79%
City Total
Source: HdL Coren & Cone
2022/23
City of La Puente, California
Principal Property Taxpayers
Current Year and Ten Years Ago
2013/14
114
Percent of
Percent of Total Tax
Fiscal Total Tax Current Tax Current Taxes Delinquent Tax Total Tax Collections to Year Levy (1) Collections Collected Collections Collections Total Tax Levy 2014 1,078,480 999,723 92.7% - 999,723 92.7%
2015 1,152,928 1,072,238 93.0% 1, - 072,238 93.0%
2016 1,208,236 1,124,478 93.1% 1, - 124,478 93.1%
2017 1,282,303 1,181,417 92.1% 1, - 181,417 92.1%
2018 1,353,426 1,236,795 91.4% 1, - 236,795 91.4%
2019 1,402,596 1,301,556 92.8% 1, - 301,556 92.8%
2020 1,497,216 1,380,946 92.2% 1, - 380,946 92.2%
2021 1,575,043 1,449,368 92.0% 1, - 449,368 92.0%
2022 1,617,754 1,444,378 89.3% 1, - 8 444,378 9.3%
2023 1,707,391 1,570,564 92.0% 1, - 9 570,564 2.0%
(1) Includes secured and unsecured property tax levies exclusive of homeowner exemption and supplemental roll.

Source: Los Angeles County
City of La Puente, California
Property Tax Levies and Collections (1)
Last Ten Fiscal Years
115
Business-Type
Activities
Tax General Sales Tax Total Percentage
Fiscal Allocation Obligation Revenue Lease Sewer Primary of Personal Per Year Bond(1) Bonds Bonds Agreement Loan Bonds Government Income(2) Capita (2) 2014 - - - 8,260,000 - 9,105,000 17,365,000 3.59% 429
2015 - - - 7,635,000 - 8,880,000 16,515,000 3.77% 408
2016 - - - 7,635,000 421,574 8,645,000 16,701,574 3.75% 412 2017 - - - 7,015,000 1,688,823 9,010,000 17,713,823 3.75% 437 2018 - - - 1,582,556 - 8,695,000 10,277,556 3.85% 253
2019 - - - 1,422,945 - 8,370,000 9,792,945 7.12% 240
2020 - - 7,445,372 1,374,354 - 8,035,000 16,854,726 4.46% 415 2021 - 8,517,708 7,157,721 1,325,602 - 7,690,000 24,691,031 3.22% 616 2022 - 11,902,891 6,865,070 1,276,689 - 7,335,000 27,379,650 3.05% 728 2023 - 11,505,789 6,557,419 1,227,615 - 6,970,000 26,260,823 3.31% 703 Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements. 1 Debt is related to dissolved Community Development Commission 2 See the Schedule of Demographic and Economic Statistics for personal income and population data.

Governmental Activities
City of La Puente, California
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
116
Net General Percentage Net
Obligation Bonded Applicable to Bonded
Jurisdiction Debt Outstanding City of La Puente Debt
Direct Debt - City of La Puente:
2020 SERIES A CERTIFICATES OF PARTICIPATION 7,791,933 $ 100% 7,791,933 $ 2022 SERIES A CERTIFICATES OF PARTICIPATION 3,713,856 100% 3,713,856 CITY OF INDUSTRY LOAN AGREEMENT 1,227,615 100% 1,227,615 Total Direct Debt 12,733,404
Overlapping Tax & Assessment Debt:

METROPOLITAN WATER DISTRICT 19,215,000 $ 0.077% $ 14,796 MT. SAN ANTONIO CCD 882,482,780 2.532 22,344,464
BASSETT USD 53,570,729 6.887 3,689,416
HACIENDA-LA PUENTE USD 107,050,000 13.818 14,792,169
ROWLAND USD 205,566,575 1.596 3,274,676
WEST COVINA USD 110,430,000 0.884 976,201
Total Overlapping Tax & Assessment Debt 45,091,722
Overlapping General Fund Debt:

LA COUNTY GENERAL FUND OBLIGATIONS 2,601,551,282 0.0148% $ 3,850,296 LA COUNTY SUPERINTENDENT OF SCHOOLS COPs 3,403,487 0.148 5,037 MT. SAN ANTONIO CCD COPs 254,500,000 2.532 6,443,940
HACIENDA-LA PUENTE USD COPs 62,168,780 13.818 8,590,482 WEST COVINA USD GENERAL FUND OBLIGATIONS 13,963,000 0.886 123,712 LA COUNTY SANITATION DISTRICT NO. 15 AUTHORITY 795,080 2.715 21,586 LA COUNTY SANITATION DISTRICT NO. 21 AUTHORITY 468,639 0.737 3,454 19,038,507
Overlapping Tax & Assessment Debt (Successor Agency) 2,845,000 100% 2,845,000 Total Overlapping Debt 66,975,229
Combined Total Direct and Overlapping Debt $ 79,708,633 Debt To Assessed Valuation Ratios:

Overlapping Debt
Total Debt
Data Source: HdL Coren & Cone, L. A. County Assessor and Auditor Combined Lien Date Tax Rolls.

This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
2022/23 Assessed Valuation: $2,806,278,249 after deducting $246,108,183 incremental value.

This report reflects debt which is being repaid through voter-approved property tax indebtedness. It excludes mortage revenue, tax allocation bonds, interim financing obligations, non-bonded captial lease obligations, and certificates of partipation, unless provided by the City.
*This fund is a portion of a larger agency, and is responsible for debt in areas outside the City.

Direct Debt 0.45%

1.61%
City of La Puente, California
Computation of Direct and Overlapping Bonded Debt
June 30, 2023

2.84%
Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the City. The percentage of overlapping debt applicable is estimated by using taxable assessed values. Applicable percentages were estimated by determining the portion of another governmental unit’s taxable assessed value that is within the City’s boundaries and dividing it by each unit’s total taxable assessed value.
117
2014 2015 2016 2017 2018
Debt Limit $ 268,982,248 $ 282,421,686 $ 297,024,247 $ 316,031,828 $ 330,641,980 Total net debt
applicable to limit - - - - -
Legal debt margin 268,982,248 $ $ 282,421,686 $ 297,024,247 $ 316,031,828 $ 330,641,980 Total net debt applicable
to the limit as a percentage
of debt limit 0% 0% 0% 0% 0%
Source: HdL Coren & Cone; L.A. County Assessor 2022/23 Combined Tax Rolls Fiscal Year
City of La Puente, California
Legal Debt Margin Information
Last Ten Fiscal Years
118
2019 2020 2021 2022 2023
$ 347,087,355 $ 364,360,251 $ 381,991,670 $ 399,418,508 $ 440,184,447 - - 10,888,092 14,930,172 14,186,370
$ 347,087,355 $ 364,360,251 $ 371,103,578 $ 384,488,336 $ 425,998,077 0% 0% 3% 4% 3%
Legal Debt Margin Calculation for Fiscal Year 2023
Assessed value $ 2,926,179,532
Add back: exempt real property 8,383,449
Total assessed value 2,934,562,981
Debt limit (15% of total assessed value) 440,184,447
Debt applicable to limit:

General obligation bonds 14,186,370
Less: Amount set aside for repayment of
general obligation debt -
Total net debt applicable to limit 14,186,370
Legal debt margin $ 425,998,077
Fiscal Year
119
Personal Per
Income Capita
Calendar (thousands of Personal School Unemployment
Year Population dollars) Income Enrollment(1) Rate Median Age 2014 40,478 630,526 15,577 20,032 9.0% 31.6
2015 40,496 623,314 15,392 19,642 7.3% 31.8
2016 40,521 625,683 15,440 19,367 5.9% 31.8
2017 40,455 664,145 16,416 18,883 4.6% 32.5
2018 40,686 682,356 16,771 18,438 4.2% 33.2
2019 40,795 697,710 17,102 18,097 4.8% 32.8
2020 40,568 751,512 18,524 21,100 4.5% 32.9
2021 40,087 796,046 19,857 17,826 13.0% 33.0
2022 37,587 834,841 22,210 16,559 9.3% 35.0
2023 37,356 868,415 23,247 16,206 4.7% 35.4
Notes: (1) School Enrollment is total enrollment for Hacienda-La Puente Unified School District Source: Population - California State Department of Finance Personal Income, Per Capita Personal Income, Median Age are provided by HdL Coren & Cone School Enrollment - California Department of Education
Unemployment Rate - California Employment Development Department City of La Puente, California
Demographic and Economic Statistics
Last Ten Fiscal Years
120
% of Total % of Total
# of City # of City
Employer Emp. Rank # Employment Emp. Rank # Employment
Northgate Supermarket 120 1 3.68% 120 1 3.24%
Alert Insulation - - 0.00% 88 2 2.38%
Walmart Stores Inc. - - 0.00% 80 3 2.16%
Food 4 Less #369 75 3 2.30% 75 4 2.03%
In And Out Burger - - 0.00% 40 9 1.08%
Merritt's Hardware 43 7 1.32% 43 8 1.16%
Ross Store 51 6 1.56% 49 7 1.32%
Ed Butts Ford 59 5 1.81% 59 6 1.59%
El Sushi Loco - - 0.00% - - 0.00%
99 Cents Only Stores 32 10 0.98% 32 - 0.86%
CVS Pharmacy #9629 35 9 1.07% 35 - 0.95%
Jack in the Box 32 10 0.98% 32 - 0.86%
Walgreens #05702 32 10 0.98% - - 0.00%
Big Lots - - 0.00% - - 0.00%
Bodega Latina Corp 80 2 2.45% 80 3 2.16%
Big Saver Foods #12 60 4 1.84% 60 5 1.62%
Burger King 37 8 1.13% 37 10 1.00%
AJ Wright #218 - - 0.00% - - 0.00%
Others 2,608 - 79.90% 2,870 - 77.57%
Total 3,264 100.00% 3,700 100.00%
% of Total % of Total
# of City # of City
Employer Emp. Rank # Employment Emp. Rank # Employment
Northgate Supermarket 118 1 2.90% 112 1 3.01%
Bodega Latina Corp 111 2 2.72% 111 2 2.99%
CAD Works, Inc. - - 0.00% - - 0.00%
Alert Insulation 88 3 2.16% 88 3 2.37%
Walmart Stores Inc. 80 4 1.96% 80 4 2.15%
Food 4 Less #369 75 5 1.84% 75 5 2.02%
Mc Donald's 68 6 1.67% 68 6 1.83%
Merritt's Hardware 41 - 1.01% 41 10 1.10%
Ross Store 46 9 1.13% 46 9 1.24%
Big Saver Foods #12 60 7 1.47% 60 8 1.61%
Carpet King 36 - 0.88% 36 - 0.97%
El Sushi Loco 43 10 1.06% 26 - 0.70%
In and Out Burger 40 - 0.98% 40 - 1.08%
Ed Butts Ford 59 8 1.45% 63 7 1.70%
CVS Pharmacy #9629 35 - 0.86% 35 - 0.94%
Jack in the Box 34 - 0.83% 34 - 0.91%
Taco Bell - - 0.00% - - 0.00%
99cents Only Stores 32 - 0.79% 30 - 0.81%
R Ranch Market #11 - - 0.00% - - 0.00%
Burger King 18 - 0.44% 18 - 0.48%
Others 3,091 - 75.85% 2,753 - 74.09%
Total 4,075 100.00% 3,716 100.00%
Source: City Finance Department - Business License Division City of La Puente, California
Principal Employers
Last Ten Fiscal Years
2015
2019 2020
2014
121
% of Total % of Total % of Total
# of City # of City # of City
Emp. Rank # Employment Emp. Rank # Employment Emp. Rank # Employment 120 1 3.26% 120 1 4.05% 120 1 3.01%
88 2 2.39% 88 3 2.97% 88 3 2.79%
80 3 2.17% 80 4 2.70% 80 4 2.21%
75 4 2.04% 75 5 2.53% 75 5 2.01%
40 9 1.09% 40 - 1.35% 40 - 1.51%
43 8 1.17% 41 10 1.38% 41 10 1.48%
50 7 1.36% 44 8 1.49% 44 8 1.10%
59 6 1.60% 59 7 1.99% 59 7 1.03%
43 8 1.17% 43 9 1.45% 43 9 1.00%
32 - 0.87% 32 - 1.08% 36 - 0.90%
35 10 0.95% 35 - 1.18% 35 - 0.88%
32 - 0.87% 32 - 1.08% 34 - 0.85%
- - 0.00% - - 0.00% 32 - 0.80%
- - 0.00% - - 0.00% 18 - 0.45%
80 3 2.17% 2 3.41% 101 111 2 0.00%
60 5 1.63% 60 6 2.03% 60 6 0.00%
18 - 0.49% 18 - 0.61% - - 0.00%
- - 0.00% - - 0.00% - - 0.00%
2,826 - 76.77% 2,094 - 70.70% 3,067 - 77.00%
3,681 100.00% 2,962 100.00% 3,983 100.00%
% of Total % of Total % of Total
# of City # of City # of City
Emp. Rank # Employment Emp. Rank # Employment Emp. Rank # Employment 112 2 2.85% 112 1 2.00% 112 1 2.23%
126 1 3.21% 111 2 1.98% 111 2 2.21%
- - 0.00% 100 3 1.79% 100 3 2.00%
88 3 2.24% 88 4 1.57% 88 4 1.76%
80 4 2.04% 80 5 1.43% 80 5 1.60%
75 5 1.91% 75 6 1.34% 75 6 1.50%
68 6 1.73% 68 7 1.22% 75 6 1.50%
41 10 1.04% 43 8 0.77% 43 7 0.86%
46 9 1.17% 40 9 0.71% 40 8 0.80%
60 8 1.53% 40 - 0.71% 40 8 0.80%
36 - 0.92% 0 - 0.00% 36 9 0.72%
26 - 0.66% 33 - 0.59% 26 10 0.52%
40 - 1.02% 40 10 0.71% - - 0.00%
63 7 1.60% 0 - 0.00% - - 0.00%
35 - 0.89% 0 - 0.00% - - 0.00%
34 - 0.86% 0 - 0.00% - - 0.00%
32 - 0.81% 0 - 0.00% - - 0.00%
30 - 0.76% 32 - 0.57% - - 0.00%
30 - 0.76% 0 - 0.00% - - 0.00%
18 - 0.46% 0 - 0.00% - - 0.00%
2,891 0.00% 4,733 - 84.59% 4,186 - 83.52%
3,931 26.46% 5,595 100.00% 5,012 100.00%
2018
2022 2023
2016 2017
2021
122
Program/Function 2013 2014 2015 2016 2017
General Government
City Council 5.00 5.00 5.00 5.00 5.00
City Clerk/Election Services 2.00 2.00 2.00 1.00 1.00
Human Resources/Risk Management n/a n/a n/a n/a n/a
Administration 2.00 2.00 2.00 2.00 2.00
Financial Services 5.00 7.00 7.50 6.50 6.50
Public Safety
Code Enforcement - - - Contract 6.50
Animal Services - - - - -
Public Safety Services Contract Contract Contract Contract Contract Public Works Services
General Services n/a n/a n/a n/a n/a
Emergency Preparedness Services Contract Contract Contract Contract Contract Public Works Services 6.00 6.00 4.00 5.50 5.50
Measure R n/a n/a n/a n/a n/a
Streets/Sidewalks (Prop C) n/a n/a n/a n/a n/a
Waste Management Services n/a n/a n/a n/a n/a
Park/Maintenance Services n/a n/a n/a n/a n/a
Community Development
Planning/Zoning Services 1.00 1.00 2.00 3.00 3.00
Housing/Community Services 1.00 1.00 1.00 1.00 1.00
Community Preservation Services 6.00 6.00 Contract Contract Contract Community Outreach n/a n/a n/a n/a n/a
Public Transit Services (Prop A) n/a n/a n/a n/a n/a
Recreation/Senior Services
Recreation Services 3.00 6.50 6.50 6.50 6.50
Youth Activity Learning Center 1.00 1.00 1.00 1.00 1.00 Nature Education Center n/a n/a n/a n/a n/a
Senior Services 1.00 1.00 1.00 1.00 1.00
Sewer Maintenance Fund
Sewer Maintenance n/a n/a n/a n/a n/a
Equipment Replacement Fund
IT/Equipment Charges n/a n/a n/a n/a n/a
Community Development Commission
Low Mod Income Housing/Capital Project Fund n/a n/a n/a n/a n/a

33.00 38.50 32.00 32.50 39.00
Source: City of La Puente
City of La Puente, California
Full-time Equivalent City Government Employees by Program/Function As of June 30, 2023
Fiscal Year
123
2018 2019 2020 2021 2022 2023

5.00 5.00 5.00 5.00 5.00 5.00

1.00 1.50 1.50 1.50 2.00 2.00

0.50 0.50 0.50 0.50 0.50 0.50

2.50 3.00 3.50 3.00 3.00 2.50

5.00 5.50 5.00 5.50 5.50 5.50

7.00 10.50 12.00 15.50 14.00 21.50
- 6.50 3.50 5.50 2.50 2.00
Contract Contract Contract Contract Contract Contract
n/a n/a n/a n/a n/a n/a
Contract Contract Contract Contract Contract Contract

6.00 10.50 11.50 17.00 14.00 18.50
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a

3.00 3.00 4.00 4.00 4.00 4.00

1.00 1.00 1.00 1.00 1.00 1.00
Contract Contract Contract Contract Contract Contract
n/a n/a n/a n/a 11.50 15.00
n/a n/a n/a n/a n/a n/a

8.00 10.50 10.50 9.50 10.50 10.50

1.00 5.00 5.50 5.50 6.50 6.50
n/a n/a n/a n/a n/a n/a

1.00 2.00 2.00 1.50 2.50 1.50
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a

41.00 63.50 65.50 75.00 82.50 96.00
Fiscal Year
124
Function/Program 2014 2015 2016 2017
Public Safety*
Physical arrests 1,279 1,458 1,385 1,952
Parking Citations Issued 5,881 5,382 8,852 6,809
Building and Safety
Construction Valuation 6,645,112 6,775,623 10,441,752 11,581,386 Building Permits Issued 364 317 467 386
Highways and Streets*
Street resurfacing (Square Feet) 305,447 240,180 61,550 187,600 Sanitation*
Refuse collected (tons/day) 61.53 60.12 64.90 58.02
Recyclables collected (tons/day) 4.59 4.53 4.77 4.96
Green waste collected (tons/day) 9.77 9.64 8.98 9.81
Community Services
Special Event-Main Street Run 3,730 3,825 4,283 3,750
(number of participants)
City Clerk
Public Records Act Requests n/a n/a n/a n/a
(number responded)
Sources: City of La Puente
L.A. County Sheriff Department
Valley Vista Services
Fiscal Year
* The City of La Puente is a contract city for
Public Safety, Fire Prevention, Public
Works, Water and Waste Services.

City of La Puente, California
Operating Indicators by Function
As of June 30, 2023
125
2018.00 2019 2020 2021 2022 2023
1,427 1,686 1,488 2,648 817 874
8,409 8,065 6,183 6,737 12,188 13,317
15,264,131 16,443,171 17,475,132 28,045,379 27,305,597 13,186,840 516 452 330 1,165 1,576 635
374,150 170,000 - 211,200 1,432,700 -

57.47 69.00 61.03 63.32 64.85 64.57

4.85 14.00 3.00 5.09 3.49 3.99

7.95 8.00 9.05 9.15 7.05 8.46
n/a n/a n/a n/a n/a n/a
n/a 94 108 120 160 253
Fiscal Year
126
Fiscal Year
Function/Program 2022-2023
General Government
City Hall 1
Public Safety
Police:

Stations Contract out
Patrol units Contract out
Fire stations Contract out
Sanitation
Collection trucks Contract out
Highways and streets
Streets (miles) 71.5
Streetlights 1421
Traffic signals 43
Community Services
Park acreage 24.2
Parks 2
Community Center 1
Youth Learning Activity Center 1
Senior Center 1
Water
Water mains (miles) Non City-Owned
Fire hydrants Non City-Owned
Maximum daily capacity N/A
(thousands of gallons)
Sewer
Sanitary sewers (miles) 64.3
Storm drains (miles) 11.5
Electric
Number of distribution stations Contract out
Miles of service line Contract out
The City of La Puente is a contract city for Public Safety, Fire Prevention, Public Works, Water and Waste services. These figures represent the capital assets owned by the City.

They remain the same for the past ten years other than the addition of the Youth Learning Activity Center and the recently completed Puente Creek Nature and Education Center.

Source: City of La Puente
City of La Puente, California
Capital Asset Statistics by Function
As of June 30, 2023
127
INDEPENDENT ACCOUNTANT’S REPORT ON AGREED-UPON PROCEDURES

APPLIED TO APPROPRIATIONS LIMIT WORKSHEETS
City Council
City of La Puente
La Puente, California
We have performed procedures enumerated below to be the accompanying Appropriations Limit worksheet of the City of La Puente, for the year ended June 30, 2023. These procedures, which were agreed to by the City of La Puente and the League of California Cities (as presented in the publication entitled Agreed-upon Procedures Applied to the Appropriations Limitation Prescribed by Article XIIIB of the California Constitution), were performed solely to assist the City in meeting the requirements of Section 1.5 of Article XIIIB of the California Constitution. The City’s management is responsible for the Appropriations Limit worksheet. This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency of the procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose.

The procedures performed and our findings were as follows:

1. We obtained the completed worksheets and compared the limit and annual adjustment factors included in those worksheets to the limit and annual adjustment factors that were adopted by resolution of the City Council. We also compared the population and inflation options included in the aforementioned documents to those that were selected by a recorded vote of the City Council.

Finding: No exceptions were noted as a result of our procedures.

2. For the accompanying Appropriations Limit worksheet, we added last year’s limit to total adjustments and agreed the resulting amount to this year’s limit.

Finding: No exceptions were noted as a result of our procedures.

3. We agreed the current year information presented in the accompanying Appropriations Limit worksheet to the other documents referenced in #1 above.

Finding: No exceptions were noted as a result of our procedures.

4. We agreed the prior year appropriations limit presented in the accompanying Appropriations Limit worksheet to the prior year appropriations limit adopted by the City Council during the prior year.

Finding: No exceptions were noted as a result of our procedures. 1 ATTACHMENT B
We were not engaged to, and did not, perform an examination, the objective of which would be the expression of an opinion on the accompanying Appropriations Limit worksheet. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. No procedures have been performed with respect to the determination of the appropriations limit for the base year, as defined by the League publication entitled Article XIIIB of the California Constitution.

This report is intended solely for the use of the City Council and management of the City of La Puente and is not intended to be and should not be used by anyone other than these specified parties. However, this report is a matter of public record and its distribution is not limited.

December 18, 2023
2 CITY OF LA PUENTE

APPROPRIATIONS LIMIT COMPUTATION
2022 – 2023
2022 - 2023
Change in Per Capita Personal Income 7.55%
Population Change
City of La Puente Population Growth -0.10%
Change in Per Capita Personal Income
Converted to a Ratio 1.0755
Population Growth Converted to a Ratio 0.999
Calculation of Growth Factor 1.0744
2021 - 2022 Appropriations Limit 109,193,502 $
2022 - 2023 Appropriations Limit
($109,193,502 x 1.0744) 117,317,499 $
3 December 18, 2023
City Council
City of La Puente
La Puente, CA
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 La Puente for the year ended June 30, 2023. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards and Government Auditing Standards, as well as certain information related to the planned scope and timing of our audit.

We have communicated such information in our letter to you dated May 19, 2023. Professional standards also require that we communicate to you the following information related to our audit.

Significant Audit Findings
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 1 to the financial statements.

No new accounting policies were adopted and the application of existing policies was not changed during the fiscal year. We noted no transactions 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 statements 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 financial statements were:

Management’s estimate of the fair value of investments is based on information provided by financial institutions. We evaluated the key factors and assumptions used to develop the fair value of investments in determining that it is reasonable in relation to the financial statements as a whole.

1 ATTACHMENT C
Management’s estimate of capital assets depreciation is based on historical estimates of each capitalized item’s useful life. We evaluated the key factors and assumptions used to develop the estimated useful lives in determining that they are reasonable in relation to the financial statements as a whole.

Management’s estimate of the net pension and net OPEB liabilities are based on actuarial information provided by the California Public Employee Retirement System’s (CalPERS) actuarial office, and other sources. We evaluated the key factors and assumptions used to develop these liabilities in determining that the estimated liabilities are reasonable in relation to the financial statements as a whole.

Certain financial statement disclosures are particularly sensitive because of their significance to financial statement users. The most sensitive disclosures affecting the financial statements were:

The disclosure of the fair value of investments in Note 2 to the financial statements represents amounts susceptible to market fluctuation.

The disclosure of accumulated depreciation in Note 5 to the financial statements is based on estimated useful lives which could differ from actual useful lives of each capitalized item.

The disclosures for the net pension and net OPEB liabilities in Notes 8 and 9 to the financial statements are based on assumptions for discount rates, etc., which could differ from actual experience. The notes disclose the differences in these liabilities if different assumptions are used in estimating these liabilities.

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 trivial, and communicate them to the appropriate level of management. In addition, none of the misstatements detected as a result of audit procedures and corrected by management were material, either individually or in the aggregate, to each opinion unit’s financial statements taken as a whole.

Disagreements with Management
For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or 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 December 18, 2023. 2 Management Consultations with Other Independent Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting principle to the City’s financial statements or a determination of the type of auditor’s 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.

Other Audit Findings or Issues
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 Management’s Discussion and Analysis, Schedule of Changes in the Net OPEB Liability, Schedule of Plan Contributions (OPEB), Schedule of Proportionate Share of the Net Pension Liability, and the Schedule of Plan Contributions, which are required supplementary information (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 supplementary information, as listed in the table of contents, 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 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.

We were not engaged to report on the introductory and statistical sections, which accompany the financial statements but are not RSI. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on it.

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.

Very truly yours,
3 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 City Council
City of La Puente
La Puente, California
We have audited, in accordance with the 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, the financial statements of the governmental activities, business-type activities, each major fund and the aggregate remaining fund information of the City of La Puente (City), as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements, and have issued our report thereon dated December 18, 2023.

Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions 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 a 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. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be

ATTACHMENT D
material weaknesses or significant deficiencies and therefore, material weaknesses may exist that were not identified. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the organization’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

December 18, 2023

AGENDA ITEM NO. D-5
To: Mayor and City Council For meeting of: January 23, 2024 From: Bob Lindsey, City Manager
By: Troy Grunklee, CPA, Director of Administrative Services SUBJECT: CONSIDERATION OF RESOLUTION APPROVING THE FILING OF

APPLICATION(S) FOR THE GRANT FUNDS FROM THE STATE DEPARTMENT

OF PARKS AND RECREATION

BACKGROUND
The California Department of Parks and Recreation (“CDPR”) is responsible for the administration of the specified grant funds. As such, the CDPR requires that the City of La Puente (“City”) pass a resolution authorizing the filing of application(s) prior to receiving grant funds.

DISCUSSION
Included in the State of California budget for fiscal year 2023-2024 was an allocation by California State Senator Bob Archuleta to the City of La Puente for the construction of the La Puente Activity Center and Recreation facility at La Puente Park. This allocation will be administered through the CDPR as a specified grant that can be used to build the Activity and Recreation facility. The approximate amount of the specified grant is $3.2 million dollars. Once the resolution has been approved, the City staff will complete a grant application that is signed by designated representative from the City and the CDPR.

FISCAL IMPACT
The specified grant is a reimbursable grant meaning that the grantee, which in this case is the City, will receive funding after the expenses have been incurred and billed to the CDPR. The City also has option to be advanced up to 80% of the grant amount, but expenditures must be incurred with 6 months of receiving the funds.

RECOMMENDATION
It is recommended that the City Council approve Resolution No. 24-5847, approving the application(s) for the Specified Grant Funds with the California Department of Parks and Recreation.

ATTACHMENTS
Attachment A: Resolution No. 24-5847
City of La Puente

AGENDA REPORT
RESOLUTION NO. 24-5847 PAGE 1 OF 2 JANUARY 23, 2024
RESOLUTION NO. 24-5847

A RESOLUTION OF THE CITY COUNCIL OF THE CITY

OF LA PUENTE, CALIFORNIA, APPROVING

APPLICATION(S) FOR SPECIFIED GRANT FUNDS FROM
THE BUDGET ACT OF 2023, 19.561(B)(45) FOR

CONSTRUCTION OF LA PUENTE ACTVITIY CENTER

AND RECREATION FACILITIES
WHEREAS, the State Department of Parks and Recreation has been delegated the responsibility by the Legislature of the State of California for the administration of a grant to the City of La Puente, setting up necessary procedures governing application(s); and WHEREAS, said procedures established by the State Department of Parks and Recreation require the grantee’s Governing Body to certify by resolution the approval of project application(s) before submission of said applications to the State; and WHEREAS, the grantee will enter into a contract(s) with the State of California to complete project(s).

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LA PUENTE HEREBY FINDS, DETERMINES AND RESOLVES AS FOLLOWS:

SECTION 1. Approves the filing of project application(s) for specified grant project(s); and
SECTION 2. Certifies that said grantee has or will have available, prior to commencement of project work specified grant funds, sufficient funds to complete the project(s); and
SECTION 3. Certifies that the applicant has reviewed, understands, and agrees to the General Provisions contained in the contract shown in this Procedural Guide, and SECTION 4. Delegates the authority to the City Manager, or designee to conduct all negotiations, sign and submit all documents, including, but not limited to applications, agreements, amendments, and payment requests, which may be necessary for the completion of the projects scope(s); and
SECTION 5. Agrees to comply with all applicable federal, state and local laws, ordinances, rules, regulations and guidelines.

SECTION 6. The provisions of this Resolution are severable and if any provision, clause, sentence, word or part thereof is held illegal, invalid, unconstitutional, or inapplicable to any person or circumstances, such illegality, invalidity, unconstitutionality, or inapplicability shall not affect or impair any of the remaining provisions, clauses, sentences, sections, words or parts thereof of the Resolution or their applicability to other persons or circumstances.

RESOLUTION NO. 24-5847 PAGE 2 OF 2 JANUARY 23, 2024
SECTION 7. That the City Clerk shall certify to the adoption of this Resolution and that the same shall be in full force and effect.

PASSED, APPROVED AND ADOPTED this 23th day of January, 2024, by the following vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

ABSTAIN: COUNCILMEMBERS:
______________________________
Gabriel Quiñones, Mayor
ATTEST:
_____________________________________
Martha Torres, MPA, City Clerk

AGENDA ITEM NO. E-1
To: Mayor and City Council For meeting of: January 23, 2024 From: Bob Lindsey, City Manager
By: Troy O. Grunklee, CPA, Director of Administrative Services Alex Merkel Medina, Finance Manager
SUBJECT: PRESENTATION OF OCTOBER, NOVEMBER & DECEMBER 2023

BUDGET REPORTS

BACKGROUND
The City Council adopted the Fiscal Year 2023-2024 Budget and Capital Improvement Program on May 31, 2023. The attached report examines fiscal activity taking place during the months of October, November, and December 2023 and includes all funds within the operating budget.

The report analyzes year-to-date transactions in comparison to budgeted amounts for the entire fiscal year, expressing each category using a percentage-of-completion methodology. It additionally provides comparisons in activity level to the same time period last fiscal year.

DISCUSSION
This report and its attachments cover the final three-month period of the calendar year 2023.

As of December 31, 2023, fifty (50) percent of the fiscal year has elapsed.

REVENUES
General Fund revenues in the first half of FY 2023/2024 have reached 24% of budget, generally commensurate with 25% at this time last year. Property Tax collections to date total $697,381 – a small increase year-over-year. Relatively little Property Tax has been collected to date, which reflects typical remittance cycles seen each year. Sales & Use Tax and Measure LP Tax have decreased 5% and 9%, respectively. This equates to a combined $156,000 reduction in dollars collected in comparison to December of 2022. Staff is actively engaged in economic development with local business establishments and has reason to believe that the City’s retail tax base will be bolstered in the second half of this fiscal year. Charges for Services, Licenses and Permits, and Fines and Forfeitures all post strong results, surpassing the 50% mark. This has aided in supplementing the loss of sales and transactions tax revenues.

City of La Puente

AGENDA REPORT
Monthly Budget Report – Oct.-Dec. 2023
For Meeting of January 23, 2024