La Puente City Council
January 28, 2025

CITY OF LA PUENTE

PUBLIC PARTICIPATION IN CITY COUNCIL MEETINGS
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.

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

Additionally, Spanish interpreting services are provided at City Council meetings upon request. Simultaneous interpretation (English-to-Spanish) is available for listening to the meeting and consecutive interpretation (Spanish-to-English) is available to anyone addressing the City Council during oral communications. The use of City provided interpreters is not required and persons are welcome to use their own interpreter. Because many dialects and regionalism exist, the City cannot guarantee that interpreters will be able to interpret into a particular dialect or regionalism, and disclaims any liability alleged to arise from such services.

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.”

CITY OF LA PUENTE
PARTICIPACIÓN PÚBLICA EN LAS REUNIONES DEL CONCEJO MUNICIPAL 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.

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

Además, se ofrecen servicios de interpretación en español en las reuniones del Concejo Municipal a pedido. Hay interpretación simultánea (inglés-español) para escuchar la reunión y la interpretación consecutiva (español a ingles) está disponible para cualquier persona que se dirija al Consejo Municipal durante las comunicaciones orales. No se requiere el uso de intérpretes proporcionados por la Ciudad y las personas pueden utilizar su propio interprete. Debido a que existen muchos dialectos y regionalismos, la Cuidad no puede garantizar que lo interpretes puedan interpretar a un dialecto o regionalismo en particular, y se exime de cualquier responsabilidad que supuestamente surja de dichos servicios.

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 3 JANUARY 28, 2025

REGULAR MEETING OF

LA PUENTE CITY COUNCIL AND SUCCESSOR AGENCY

COUNCIL CHAMBERS
15900 EAST MAIN STREET, LA PUENTE
JANUARY 28, 2025
9:30 A.M. REGULAR SESSION

CALL TO ORDER

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

PLEDGE OF ALLEGIANCE

PRESENTATIONS
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.)

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 Munoz/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 Mendoza/Klinakis When Necessary 6:30 p.m.

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

California JPIA Munoz/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 14, 2025
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 14, 2025.

B. PUBLIC HEARINGS BEFORE THE CITY COUNCIL
CC/SA AGENDA PAGE 2 OF 3 JANUARY 28, 2025
B-1 CONSIDERATION OF A RESOLUTION APPROVING PARTICPATION IN THE LOS ANGELES

URBAN COUNTY PERMANENT LOCAL HOUSING ALLOCATION PROGRAM Staff Recommendation: It is recommended that the City Council: (1) adopt Resolution No. 25-5916 approving the City’s participation in the Los Angeles Urban County Permanent Local Housing Allocation Program; and (2) authorize the City Manager to execute all documents necessary to effectuate this Program.

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. 25-5917 Staff Recommendation: It is recommended that the City Council and Successor Agency adopt Resolution No. 24-5917 approving Warrant Register No. 1585.

D-2 PRESENTATION OF NOVEMBER AND DECEMBER 2024 REQUISITION SUMMARY REPORT Staff Recommendation: It is recommended that the City Council receive and file this report.

D-3 PRESENTATION OF NOVEMBER AND DECEMBER 2024 INVESTMENT REPORT Staff Recommendation: It is recommended that the City Council receive and file this report.

D-4 RECEIVE AND FILE THE CITY’S ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 2024
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, 2024.

D-5 CONSIDERATION OF A MEMORANDUM OF UNDERSTANDING BETWEEN THE CITY OF LA

PUENTE AND THE SOUTHERN CALIFORNIA ASSOCIATION OF GOVERNMENTS FOR THE SUSTAINABLE COMMUNITIES PROGRAM – CIVIC ENGAGEMENT, EQUITY, AND

ENVIRONMENTAL JUSTICE (SCP-CEEEJ) FOR MIXED-USE DEVELOPMENT FOR

UNDERUTILIZED COMMERCIAL ZONES IN LA PUENTE
Staff Recommendation: It is recommended that the City Council: (1) approve the Memorandum of Understanding with the Southern California Association of Governments; and (2) authorize the City Manager to execute the Agreement on behalf of the City.

E. NEW BUSINESS TO BE CONSIDERED BY THE CITY COUNCIL
E-1 PRESENTATION OF DECEMBER 2024 BUDGET REPORT
Staff Recommendation: It is recommended that the City Council receive and file this report.

CC/SA AGENDA PAGE 3 OF 3 JANUARY 28, 2025
E-2 UPDATE AND DISCUSSION REGARDING 365 ATHLETIX FITNESS PROGRAMMING Staff Recommendation: It is recommended that the City Council: (1) approve a professional services agreement for fitness class services with Christopher Arias in the amount of $8,320; and (2) authorize the City Manager to execute the agreement.

E-3 CONSIDERATION OF A RESOLUTION AMENDING THE FISCAL YEAR 2024-2025 BUDGET

AND CAPITAL IMPROVEMENT PROGRAM IN THE ANIMAL CONTROL SERVICES

DEPARTMENT
Staff Recommendation: It is recommended that the City Council adopt Resolution No. 25-5918 amending the Animal Control Services Department Budget (100-2130) for fiscal year 2024-25.

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

NAME MEMBERS
Code Enforcement and Public Safety Committee Klinakis/Mendoza La Puente Park Fees, Ordinance and Program Oversight Committee Munoz/Quinones Project LEAD Committee Mendoza/Quinones
LPQT Action Committee Mendoza/Quinones
Rowland, Bassett, and Hacienda La Puente Unified School Districts Liaison Committee
Munoz/Klinakis
Senior Citizen Advisory Committee Munoz/Klinakis
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 23rd day of January, 2025.
_________/s/_____________
Martha Torres, MPA
City Clerk

MINUTES

LA PUENTE CITY COUNCIL AND SUCCESSOR AGENCY

REGULAR MEETING OF
JANUARY 14, 2025
CC/SA MINUTES PAGE 1 OF 7 JANUARY 14, 2025
A 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 14, 2025, at 7:00 p.m.

CALL TO ORDER
Mayor Munoz called the meeting to order at 7:00 p.m.

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

Members absent: None.

Staff members present: City Clerk Martha Torres, Assistant City Attorney Adrian De Leon, 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, Finance Manager Alexander Merkel Medina, Management Analyst Natalie Romo, and Management Assistant Cece Dunlap.

PLEDGE OF ALLEGIANCE
Council Member Argudo led the Pledge of Allegiance.

PRESENTATIONS
La Puente Community Foundation Engagement Supervisor Kimberly Cardona provided certificates of recognition to California Panthers, United States Specialty Sports Association, Feathered Serpent Brewery, and Western Construction Specialists, Inc. for their contributions and donations to the Foundation’s Toy Drive.

Management Analyst Romo and Chief/Director of Public Safety Buckwell presented an Employee Service Award to Code Enforcement Officer George Aguilar for his 5 years of service at the City of La Puente.

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

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 7 JANUARY 14, 2025

ORAL COMMUNICATIONS
Bryant Bouchot spoke regarding graffiti, lighting, and sidewalks in the City.

Lenora Thurman spoke regarding her support of the 365 Athletix Fitness Program.

Cecilia Diaz thanked everyone for their contributions and donations to those affected by the recent fires.

BOARDS/COMMISSION/COMMITTEE REPORTS – None.

A. MINUTES OF PREVIOUS CITY COUNCIL AND SUCCESSOR AGENCY

MEETINGS
A-1 READ AND APPROVE THE MINUTES OF THE CITY COUNCIL AND SUCCESSOR AGENCY MEETINGS OF NOVEMBER 12, 2024, AND DECEMBER 10, 2024 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 meetings of November 12, 2024, and December 10, 2024. The motion carried by the following roll call vote:

AYES: Munoz, Klinakis, Argudo, Mendoza, Quinones
NOES: None
ABSTAIN: None
ABSENT: None
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 2025-26 Director of Development Services Di Mario provided a staff report and briefing on the City’s Community Development Grant Program for fiscal year 2025-26.

Mayor Munoz opened the public hearing. There being no members of the public wishing to speak, Mayor Munoz closed the public hearing.

In response to an inquiry from Council Member Argudo regarding total applicants, Director Di Mario stated there are approximately 20 to 25 applicants.

A motion was made by Council Member Argudo, seconded by Mayor Munoz, to adopt Resolution No. 25-5913 authorizing the City’s CDBG Program for Fiscal Year 2025-26.

The motion carried by the following roll call vote:

CC/SA MINUTES PAGE 3 OF 7 JANUARY 14, 2025
AYES: Munoz, Klinakis, Argudo, Mendoza, Quinones
NOES: None
ABSTAIN: None
ABSENT: None
C. UNFINISHED BUSINESS OF THE CITY COUNCIL – None.

D. CITY COUNCIL AND SUCCESSOR AGENCY CONSENT CALENDAR
A motion was made by Council Member Argudo, seconded by Mayor Munoz, to approve Consent Calendar Items D-1 through D-3. The motion carried by the following roll call vote:

AYES: Munoz, Klinakis, Argudo, Mendoza, Quinones
NOES: None
ABSTAIN: None
ABSENT: None
D-1 CONSIDERATION OF A RESOLUTION APPROVING WARRANT RESOLUTION NO. 25-5914
Action Taken: The City Council and Successor Agency adopted Resolution No. 24-5914 approving Warrant Register No. 1584.

D-2 CONSIDERATION OF AMENDMENT NO. 1 TO THE PROFESSIONAL SERVICES

AGREEMENT WITH COMMUNITY WORKS DESIGN GROUP FOR ADDITIONAL

SERVICES RELATED TO THE DOG PARK AND NATURE TRAILS IN THE AMOUNT OF $4,850.00
Action Taken: The City Council: (1) approved Amendment No. 1 to the Professional Services Agreement with Community Works Design Group in the amount of $4,850.00; and (2) authorized the City Manager to execute the Amendment on behalf of the City.

D-3 CONSIDERATION OF AMENDMENT NO. 4 TO THE MAINTENANCE SERVICES AGREEMENT WITH TANKO LIGHTING, INC. FOR STREET LIGHT

MAINTENANCE SERVICES
Action Taken: The City Council: (1) approved Amendment No. 4 to the Maintenance Services Agreement with Tanko Lighting, Inc.; and (2) authorized the City Manager to execute the Amendment on behalf of the City.

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
CC/SA MINUTES PAGE 4 OF 7 JANUARY 14, 2025
Mayor Munoz made the following appointments to regional boards, commissions, and committees:

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

Mayor Munoz 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.

Council Member Mendoza as the delegate and Mayor Pro Tem Klinakis as the alternate to the City Selection Committee.

Council Member Argudo as the delegate and Council Member Quinones as the alternate to the San Gabriel Valley Council of Governments.

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

Mayor 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 Council Member Argudo, seconded by Mayor Munoz, to adopt Resolution No. 25-5915 appointing Council Member Argudo as the Delegate with Council Member Quinones as the Alternative to the San Gabriel Valley Council of Governments.

The motion carried by the following roll call vote:

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

HOC COMMITTEES
Mayor Munoz 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.

CC/SA MINUTES PAGE 5 OF 7 JANUARY 14, 2025
Mayor Munoz and Council Member Quinones would serve on the La Puente Park Fees, Ordinance, and Program Oversight Committee ad hoc committee.

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

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

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

Mayor Munoz disbanded the Grant Writing ad hoc committee.

Mayor Munoz established the Senior Citizen Advisory ad hoc committee and Mayor Munoz and Mayor Pro Tem Klinakis would serve on the committee.

E-3 CONSIDERATION OF APPOINTMENTS TO THE LA PUENTE COMMUNITY

FOUNDATION
Community Engagement Supervisor Cardona provided a staff report regarding appointments to the La Puente Community Foundation.

Discussion ensued regarding the staggering of terms.

A motion was made by Council Member Argudo, seconded by Council Member Mendoza, to reappoint Martin Paz, John Solis, and Kevin Xie for 4-year terms to the La Puente Community Foundation. The motion carried by the following roll call vote:

AYES: Munoz, Klinakis, Argudo, Mendoza, Quinones
NOES: None
ABSTAIN: None
ABSENT: None
E-4 UPDATE AND DISCUSSION REGARDING 365 ATHLETIX FITNESS

PROGRAMMING
Mayor Munoz stated that this item would be moved to the January 28, 2025, City Council meeting for consideration.

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: Nothing to report.

CC/SA MINUTES PAGE 6 OF 7 JANUARY 14, 2025
LPQT Action 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 Finance Manager Alexander Merkel Medina on his new position as Finance Director at the City of Walnut.

Mayor Pro Tem Klinakis spoke regarding the homeless count and the recent fires and thanked the Community for their contributions and donations.

Council Member Quinones thanked City Staff for being proactive during the fires and constantly working on protecting the streets.

Council Member Mendoza thanked and congratulated Finance Manager Merkel Medina on his new position, thanked Staff and legal counsel for their work, and thanked the Community for bringing issues to the City Council’s attention.

Mayor Munoz thanked Finance Manager Merkel Medina for his hard work and congratulated him on his new position. Mayor Munoz noted that she will be meeting with different City departments to discuss funding for projects, programming, and new ideas. She further thanked Staff for surveying the streets after the strong winds.

Mayor Munoz read a letter from City Manager Lindsey, who is currently out on temporary leave, and announced that effective immediately, the acting City Manager would transition from Director of Development Services John Di Mario to Director of Community Services Alexander Bauman.

ORAL COMMENTS FROM STAFF
Director of Development Services Di Mario thanked City Manager Lindsey and thanked his colleagues.

Director of Administrative Services Grunklee announced that Finance Manager Merkel Medina’s last day with the City would be January 24, 2025, and congratulated him on his new position.

Finance Manager Merkel Medina thanked Director of Administrative Services Grunklee, City Manager Lindsey, the City Council, and coworkers for their support.

CC/SA MINUTES PAGE 7 OF 7 JANUARY 14, 2025
Community Engagement Supervisor Cardona shared a video regarding the donations received for the recent fire victims and noted that donations will be accepted until January 17, 2025, at the La Puente Community Center. She also spoke regarding upcoming events including Martin Luther King Jr. Story Time & Crafts on January 25, 2025, and the Annual Lunar New Year event, sponsored by Volvo, on February 1, 2025.

Acting City Manager/Director of Community Services Bauman provided updates regarding the following programs and events: 160 kids are currently participating in the youth basketball league partnered with the Junior Clippers program; t-ball sign-ups for ages 4-7 begin on Monday, January 20, 2025; Staff is hosting a 3 on 3 adult basketball tournament; the City’s digital literacy program would begin classes on January 22, 2025; and Staff is hosting a cosmic pickleball event on January 17, 2025.

Chief/Director of Public Safety Buckwell stated that the Public Safety department is on high wind/fire protocol and would be canvassing the City during shifts.

ADJOURMENT
There being no further business before the City Council, Mayor Munoz adjourned the meeting at 8:08 p.m.

Approved this 28th day of January, 2025.

Martha Torres, MPA Valerie Muñoz
City Clerk Mayor/Chair

AGENDA ITEM NO. B-1
To: Mayor and City Council For meeting of: January 28, 2025 From: Bob Lindsey, City Manager
By: John Di Mario, Development Services Director
Gisel Rubio, Rehabilitation Grant Specialist
SUBJECT: CONSIDERATION OF A RESOLUTION APPROVING PARTICPATION IN

THE LOS ANGELES URBAN COUNTY PERMANENT LOCAL HOUSING

ALLOCATION PROGRAM

BACKGROUND
At the City Council meeting of April 11, 2023, the City Council adopted Resolution No. 23-5789 approving the City’s participation in the Los Angeles Urban County Permanent Local Housing Allocation (“PLHA”) Program.

The City was previously notified back in 2020, that the Los Angeles Community Development Authority (“LACDA”) applied for and was awarded funding of a grant from the California Department of Housing and Community Development (“HCD”) under the PLHA Program.

PLHA is an SB 2 funded State program that provides an on-going source of funding through the State Property Transfer Fees to increase affordable housing stock in California. The LACDA, on behalf of the County, administers the program and makes funding available to Urban County Participating Cities, such as La Puente.

The City has utilized its funding in the PLHA Program to provide first-time homebuyer down payment assistance loans to eligible participants wishing to purchase a home in the City. This far, the City has processed three (3) down payment assistance loans for single-family homes in La Puente.

DISCUSSION
The City has been provided with an award letter notice for Year 5 of the program. The City is anticipated to receive $115,601 of PLHA monies for this funding cycle. In order to receive these funds the City must adopt the attached resolution as part of a noticed public hearing.

City of La Puente

AGENDA REPORT
Resolution Approving Participation in the Los Angeles Urban County PLHA Program For Meeting of January 28, 2025

FISCAL IMPACT
This will receive $115,601 in Year 5 monies as part of the PLHA program. Funds are provided to the City similar to the Community Development Block Grant funds, which is on a reimbursement basis. There is no direct impact to the City’s General Fund and a portion of the funds can be used to pay for City Staff administrative costs to manage and deliver the program to the community.

RECOMMENDATION
It is recommended that the City Council: (1) adopt Resolution No. 25-5916 approving the City’s participation in the Los Angeles Urban County Permanent Local Housing Allocation Program; and (2) authorize the City Manager to execute all documents necessary to effectuate this Program.

ATTACHMENTS
Attachment “A”: Resolution No. 25-5916
RESOLUTION NO. 25-5916 PAGE 1 OF 2 JANUARY 28, 2025
RESOLUTION NO. 25-5916

A RESOLUTION OF THE CITY COUNCIL OF THE CITY

OF LA PUENTE, CALIFORNIA, APPROVING

PARTICIPATION IN THE LOS ANGELES URBAN

COUNTY PERMANENT LOCAL HOUSING ALLOCATION

PROGRAM BY AUTHORIZING THE CITY MANAGER TO

SIGN A REIMBURSABLE CONTRACT WITH THE LOS

ANGELES COUNTY DEVEVELOPMENT AUTHORITY
(LACDA) ACTING ON BEHALF OF THE COUNTY
WHEREAS, Permanent Local Housing Allocation (“PLHA”) is an SB2 funded program that provides an ongoing permanent source of funding through the State Property Transfer Fees to increase affordable housing; and
WHEREAS, the City of La Puente has received notification of the availability of funding for Year 5 in the amount of $115,601; and
WHEREAS, the City of La Puente desires to participate in the Los Angeles Urban County Permanent Local Housing Allocation (PLHA) Program; and
WHEREAS, the City authorizes the execution of a Reimbursable Contract with the County of Los Angeles in order to receive said PLHA funds; and

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

SECTION 1. The above recitals are true and correct and are incorporated herein by reference.

SECTION 2. The City Council authorizes the City Manager, and/or his designee, to execute any and all documents necessary for participation in the Los Angeles Urban County PLHA Program on behalf of the City of La Puente.

SECTION 3. 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.

SECTION 4. That the City Clerk shall certify to the adoption of this Resolution and that the same shall be in full force and effect.

ATTACHMENT A
RESOLUTION NO. 25-5916 PAGE 2 OF 2 JANUARY 28, 2025
PASSED, APPROVED AND ADOPTED this 28th day of January, 2025, by the following vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

ABSTAIN: COUNCILMEMBERS:
______________________________
Valerie Munoz, Mayor
ATTEST:
_____________________________________
Martha Torres, MPA, City Clerk
RESOLUTION NO. 25-5917 PAGE 1 OF 1 JANUARY 28, 2025
RESOLUTION NO. 25-5917

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

LA PUENTE ALLOWING CERTAIN CLAIMS AND
DEMANDS IN THE AMOUNT $1,647,260.24 (WARRANT
REGISTER 1585)

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 13932 through 14046 ACH(s) numbered 822 through 831 and Draft numbered 02783 through 02803 except for voided warrant 14026 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 28th day of January 2025, by the following vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

ABSTAIN: COUNCILMEMBERS:
______________________________
Valerie Muñoz, Mayor
ATTEST:
_____________________________________
Martha Torres, MPA, City Clerk
AGENDA ITEM NO. D-1
1/21/2025 2:13:25 PM Page 1 of 16
Check Register Report
City of La Puente By Payment Number
Payment Dates 1/4/2025 - 1/17/2025
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
822 1/10/2025 BLAWAT BLACKWATER SECURITY 17,383.33
1902-2058 01/25 PARK SECURITY SVC 100-2110-53111 17,383.33 823 1/10/2025 ENTFMT ENTERPRISE FM TRUST 23,259.11
FBN5224315 01/25 VEH MTCE 555-3150-53812 1,722.72
FBN5224315 01/25 VEH LEASE 555-3150-53912 21,536.39
824 1/10/2025 GLOURB GLOBAL URBAN STRATEGIES, INC 9,662.50 812 12/24 CASF DIGITAL LITERACY GRANT 280-3300-53111 9,662.50 825 1/10/2025 IGMTEC IGM TECHNOLOGY 20,600.00
1870 FY 25/26 BUDGET SOFTWARE 550-6100-53017 20,600.00
826 1/10/2025 TANKO TANKO LIGHTING 2,896.50
69931 12/24 ST LIGHT MTCE 285-3330-53111 1,612.00
69941 12/24 ST LIGHT REPAIR-HOMEWARD 285-3330-53111 1,284.50 827 1/17/2025 SEIUCO COPE FUND 10.00
INV0012003 COPE FUND CONTRIBUTION 100-20380 3.68
INV0012003 COPE FUND CONTRIBUTION 260-20380 1.32
INV0012062 COPE FUND CONTRIBUTION 100-20380 2.61
INV0012062 COPE FUND CONTRIBUTION 260-20380 2.39
828 1/17/2025 SEIU SEIU - LOCAL 721 1,932.41
INV0012002 EMPLOYEE DUES 100-20380 879.64
INV0012002 EMPLOYEE DUES 200-20380 23.54
INV0012002 EMPLOYEE DUES 203-20380 4.54
INV0012002 EMPLOYEE DUES 205-20380 2.84
INV0012002 EMPLOYEE DUES 210-20380 25.74
INV0012002 EMPLOYEE DUES 215-20380 4.54
INV0012002 EMPLOYEE DUES 260-20380 37.98
INV0012002 EMPLOYEE DUES 280-20380 3.43
INV0012002 EMPLOYEE DUES 283-20380 8.06
INV0012002 EMPLOYEE DUES 285-20380 12.92
INV0012017 EMPLOYEE DUES 100-20380 24.68
INV0012017 EMPLOYEE DUES 260-20380 2.96
INV0012061 EMPLOYEE DUES 100-20380 712.47
INV0012061 EMPLOYEE DUES 200-20380 41.42
INV0012061 EMPLOYEE DUES 203-20380 6.45
INV0012061 EMPLOYEE DUES 205-20380 5.39
INV0012061 EMPLOYEE DUES 210-20380 35.86
INV0012061 EMPLOYEE DUES 215-20380 4.32
INV0012061 EMPLOYEE DUES 260-20380 44.09
INV0012061 EMPLOYEE DUES 280-20380 3.36
INV0012061 EMPLOYEE DUES 283-20380 31.21
INV0012061 EMPLOYEE DUES 285-20380 16.97
829 1/17/2025 ALTALANG ALTA LANGUAGE SERVICES, INC. 58.00 IS758768 BL TESTING SVC - ANDRADE 100-1135-53406 58.00
830 1/17/2025 THYSSE TK ELEVATOR 1,947.16
3008301468 01-03/25 CH ELEVATOR MTCE 100-1150-53811 1,353.92 3008302343 01-03/25 CC ELEVATOR MTCE 100-4100-53811 593.24 831 1/17/2025 YUNLLC YUNEX LLC 2,093.01
5610003857 11/24 TS MTCE 200-3120-53819 532.51
Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 2 of 16
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
90003495 12/24 TS MTCE 200-3120-53819 1,560.50
13932 1/10/2025 ALMALE ALEXA ALMANZA 54.55
INV0012023 SCHOLARSHIP REIM-ALMANZA 100-4140-53992 54.55 13933 1/10/2025 AMARGL AMAR GLEN VETERINARY HOSPITAL 420.00 159888 09/24 VET SERVICES 100-2130-53111 210.00
160632 10/24 VET SERVICES 100-2130-53111 210.00
13934 1/10/2025 AMABUS AMAZON CAPITAL SERVICES INC 2,102.23 1147-V64F-THYF 2025 PLANNER 100-1135-53011 13.19
11MN-996T-FHDV AMERICAN FLAGS 100-1150-53011 40.84
1336-MN7H-DYPC PLASTIC WHISTLES W/LANYARD 100-4110-53980 21.99 13NR-M63C-GH7R DOOR LATCH 100-3300-53011 107.78
17Y7-RWJ6-FWWX BASKETBALL HOOPS 100-4110-53980 655.60
1C3J-NCP3-3YK7 LITHIUM CELL BATTERY 550-6100-53018 15.35 1C7H-FVTF-W7C4 OUTDOOR PICKLEBALLS 100-4140-53993 285.12 1FWH-9R9W-6N16 PLASTIC STYLUS PEN SET 100-1150-53011 38.80 1KGF-K3C9-11VX RCA CONNECTORS 550-6100-53018 22.50
1LWW-WG6W-J9VP SUCTION CUPS 550-6100-53018 16.43
1MF1-9MT9-4TH6 CUTLERY SYSTEM DISPENSERS 100-1150-53011 248.85 1NTY-GF6W-V3KT WIRELESS VIDEO TRANSMISSION SYSTEM 550-6100-53018 635.78 13935 1/10/2025 VILLAN ANTONIO VILLAREAL 325.00
INV0012022 SCHOLARSHIP REIM-VILLARREAL 100-4140-53992 325.00 13936 1/10/2025 ATT AT&T 516.74
000022742352 11/13-12/12 PHONE-YLAC/COMM CTR 100-4100-53715 63.96 000022798539 11/28-12/27 PHONE-MTCE YARD ALARM 285-3330-53715 31.24 000022798540 11/28-12/27 PHONE-CH FAX LINE 100-1150-53715 126.94 000022798541 11/28-12/27 PHONE-CH LINE 100-1150-53715 294.60 13937 1/10/2025 A-Z BUS A-Z BUS SALES 147,747.68
INVCOL35540 (1) TRANSIT BUS 270-3100-54484 147,747.68
13938 1/10/2025 B2PRIN B2 PRINT 48.50
0013115 BUSS CARDS-RAMIREZ 100-2130-53011 48.50
13939 1/10/2025 BOBMUR BOB MURRAY & ASSOCIATES 9,042.50 10910 12/24 PROF SVC-EXECUTIVE RECRUITMENT 100-3100-53111 9,042.50 13940 1/10/2025 CABUST CALIFORNIA BUILDING STANDARDS 554.40 INV0012026 07-09/24 BLDG REV FUND 100-48900 -46.70
INV0012026 07-09/24 BLDG REV FUND 600-47441 467.00
INV0012027 10-12/24 BLDG REV FUND 100-48900 -14.90
INV0012027 10-12/24 BLDG REV FUND 600-47441 149.00
13941 1/10/2025 CBE4AM CBE OFFICE SOLUTIONS 978.29
IN2798603-CBE 11/20-12/19 FACILITY COPIER 100-1150-53911 978.29 13942 1/10/2025 CDW CDW GOVERNMENT INC 54,596.83
AB6Q53L COUNCIL CHAMBER-AV/TECH UPGRADE WORK 100-5609-59300 2,111.83 LA2406125 COUNCIL CHAMBER-AV/TECH UPGRADE WORK 100-5609-59300 38,866.00 LA2406126 CONFERENCE ROOM-AV/TECH WORK 100-5609-59300 13,619.00 13943 1/10/2025 CELLBS CELL BUSINESS SYSTEMS 1,162.59
5032661937 01/12-02/11 FACILTIY COPIER 100-1150-53911 1,162.59 13944 1/10/2025 CHAMBERS CHAMBERS GROUP 4,118.68
37580 11/24 VETERANS PARK NEPA SVC 100-3300-53111 4,118.68 13945 1/10/2025 TIMEWA CHARTER COMMUNICATIONS 119.22
0029105121424 12/14-01/13 SC CABLE/INTERNET 100-4130-53715 119.22 Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 3 of 16
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
13946 1/10/2025 CINTA CINTAS CORPORATION #693 616.08
4214200317 12/10 CH MAT RENTAL 100-1150-53813 82.62
4216357334 12/31 SR CENTER MAT RENTAL 100-4130-53012 533.46 13947 1/10/2025 CINTA CINTAS CORPORATION #693 3,090.93
8407209615 ALL FACILITIES FIRST AID RESTOCK 100-1150-53011 3,090.93 13948 1/10/2025 PLUCIV CIVICPLUS 13,635.00
324982 Community Services - Registration Program 100-4100-53111 13,635.00 13949 1/10/2025 CELHOL CLIPA, LLC 2,250.00
091624-2 2024 CH CH HOLIDAY DECO FINAL PYMT 100-4140-53979 2,250.00 13950 1/10/2025 CONCEN CONCENTRA 252.00
85293105 12/24 PRE EMPLOYMENT PHYSICAL 280-3300-53406 252.00 13951 1/10/2025 GOLCAR D AND D GOLF CARS, INC. 111.01
078914 GOLF CART HEAD LIGHT 555-3150-53812 111.01
13952 1/10/2025 DAROLI DAPEER, ROSENBLIT & LITVAK, LLP 71.80 23848 11/24 LEGAL SVC-CODE ENF 100-2110-53114 71.80
13953 1/10/2025 DEPTC DEPT OF CONSERVATION 358.65
INV0012025 10-12/24 SMIP FEES 100-48900 -18.87
INV0012025 10-12/24 SMIP FEES 600-47440 377.52
13954 1/10/2025 SAMSAR DR. SAMIR SARGIOS DVM 10,000.00
034 12/24 VIDA MOTHLY RENT 100-2130-53111 5,000.00
035 01/25 VIDA MONTHLY RENT 100-2130-53111 5,000.00
13955 1/10/2025 EQUIP EQUIPMENT SHARE 10,995.89
4645042-000 LIGHT TOWERS 555-3150-54484 4,584.76
4645042-000 LIGHT TOWERS 555-3150-54484 6,411.13
13956 1/10/2025 EWIIRR EWING IRRIGATION PRODUCTS INC. 1,155.44 24453257 LP PARK IRRIGATION SUPPLIES 285-3330-53822 165.37 24453380 GRASS SEED-LP PARK 285-3330-53822 990.07
13957 1/10/2025 EXTOFF EXTENDED OFFICE SOLUTIONS INC 622.56 INV0012012 01/25 PHONE SVC 100-1150-53715 622.56
13958 1/10/2025 COMFAS FASTENAL COMPANY 1,306.04
CACIT80725 LP PARK JANITORIAL SUPPLIES 100-3330-53012 804.41 CACIT80726 COMM CTR JANITORIAL SUPPLIES 100-4100-53011 208.38 CACIT80729 SR CENTER JANITORIAL SUPPLIES 100-4130-53011 293.25 13959 1/10/2025 FIRMAS FIREMASTER 1,862.52
0001278661 CH MTCE ANNUAL FIRE EXTINGUISHER 100-1150-53811 1,122.00 0001278662 SR CTR ANNUAL EXTINGUISHER MTCE 100-4130-53811 524.70 0001278663 CC ANNUAL EXTINGUISHER MTCE 100-4100-53811 215.82 13960 1/10/2025 GALLS GALLS 569.89
029820137 CODE-UNIFORMS 100-2130-53015 93.21
029872874 CODE UNIFORMS 100-2130-53015 217.13
029946253 CODE UNIFORMS 100-2130-53015 20.52
030013517 CODE UNIFORMS 100-2130-53015 82.66
030037114 CODE UNFIORMS 100-2130-53015 156.37
13961 1/10/2025 GARDA GARDAWORLD 457.83
10804933 01/25 ARMORED TRANS SVC 100-1130-53111 457.83
13962 1/10/2025 GRANIC GRANICUS INC. 17,916.75
195252 MTG EFFICIENCY/ENCODING 275-1125-53111 17,916.75 Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 4 of 16
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
13963 1/10/2025 GUEJC GUERREROS ATHLETIC FOUNDATION 1,064.00 INV0012011 12/24 JUDO CLASS PYMT 100-4100-53111 1,064.00 13964 1/10/2025 HACLWN HACIENDA LAWNMOWER SHOP 190.17
5790 MTCE-TOOLS 100-3100-53012 166.54
5802 EQUIPMENT REPAIR 100-3100-53012 23.63
13965 1/10/2025 HACOUT HACIENDA OUTLET 485.37
24335 MTCE-UNIFORMS 100-3330-53015 125.37
24336 MTCE- UNIFORMS 100-3330-53015 360.00
13966 1/10/2025 HDLASS HINDERLITER DE LLAMAS & ASSOCIATES 300.00 SIN046088 10-12/24 TRANSACTIONS TAX 100-1130-53111 300.00 13967 1/10/2025 INHOFA INDUSTRY HOSES & FASTNERS 348.47 69483 GRAFFITI EQUIPMENT 200-3120-53012 348.47
13968 1/10/2025 INNO INNOVATIVE PLAYGROUDS COMPANY, INC. 36,441.23 3039 PLAYGROUND RESEALING 100-3330-53822 700.00
3040 PLAYGROUND RESEALING 100-3330-53822 35,741.23
13969 1/10/2025 JCLBAR JCL TRAFFIC 1,089.29
127060 TEMP NO PARKING SIGNS 200-3120-53821 218.30
127114 TRAFFIC WATER WALL RENTAL 100-3100-53111 300.00
127121 PARK SIGNAGE 100-3330-53822 96.25
127192 GALV.SQUARE POST 200-3120-53821 311.90
127286 DO NOT BLOCK DRIVEWAY SIGNS 200-3120-53821 162.84 13970 1/10/2025 GONSALV JOE A. GONSALVES & SON 2,500.00 162151 01/24 LEGISLATIVE SVC 100-1100-53111 2,500.00
13971 1/10/2025 CAZJOR JORGE CAZAREZ 11.00
INV0012037 MEMBERSHIP REFUND 100-4110-53980 11.00
13972 1/10/2025 JOSSAN JOSE F. SANCHEZ 10.00
INV0012038 MWELO PYMT 600-23292 10.00
13973 1/10/2025 JOSREY JOSE REYES 707.52
INV0012028 12/02-14 SHOPPING CART-MILEAGE REIM-REYES 555-3150-53014 325.62 INV0012029 12/16-31 SHOPPING CART-MILEAGE REIM-REYES 555-3150-53014 381.90 13974 1/10/2025 IROKIM KIMCO IRON, INC 570.00
1728 IRON GATE REPAIR-SR CENTER 100-4130-53813 570.00
13975 1/10/2025 KSKFAC KSK FACILITIES 3,350.00
2062 12/24 COMM/YLAC JANITORIAL SVC 285-3330-53813 3,350.00 13976 1/10/2025 LACRD LA CO DEPT PUBLIC WORKS 13,655.02 RE-PW-24111202392 10/24 IW LA PUENTE 100-3110-53121 4,811.33 RE-PW-24111202763 10/24 TS MAINT DDG 200-3120-53819 8,843.69 13977 1/10/2025 LACSHF LA CO SHERIFF'S DEPT 732,303.17
251026TZ 10/24 LAW ENF SVC 100-2100-53110 653,784.64
251026TZ 10/24 LIABILITY INS 100-2100-53186 78,518.53
13978 1/10/2025 LPVCWD LA PUENTE VALLEY CO WATER 5,135.29 INV0012021 10/16-12/16 WTR-COMM 100-4100-53711 952.16
INV0012021 10/16-12/16 WTR-YLAC 100-4110-53714 952.17
INV0012031 10/16-12/16 WTR-VALLEY-CENTRAL 200-3120-53714 894.00 INV0012032 10/16-12/16 WTR-GLENDORA/PARK 285-3330-53714 782.09 INV0012033 10/16-12/16 WTR-NELSON 200-3120-53714 729.06 INV0012034 10/16-12/16 WTR-OLD VALLEY 200-3120-53714 265.86 INV0012035 10/16-12/16 WTR-ABBEY& CENTRAL 200-3120-53714 493.29 INV0012036 10/16-12/16 WTR-MAIN & LEVERETTE 200-3120-53714 66.66 Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 5 of 16
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
13979 1/10/2025 ODELIN LINDA ODEGAARD 221.60
INV0012024 12-01/25 KNITTING CLASS PYMT 100-4100-53111 221.60 13980 1/10/2025 MANCIL MANCILLA'S QUALITY PRINTING LLC 130.63 16519 ACFR COVER PRINTING 100-1130-53111 130.63
13981 1/10/2025 MIDAMER MID AMERICA ADMIN AND RETIREMENT SOLUTIONS LLC 1,584.00 0279725 3RD QTR 2024 ADMIN FEE 100-1135-51311 1,584.00
13982 1/10/2025 RESOUR RESOURCE BUILDING MATERIALS 274.10 3916517 SCOOP PLASTER SAND 285-3330-53822 274.10
13983 1/10/2025 ROBFLO ROBINSON'S FLOWERS 258.50
3788 VETERANS DAY WREATH 100-4130-53979 258.50
13984 1/10/2025 RYDIN RYDIN DECAL 739.31
PS-INV125664 BUSINESS LIC DECALS 100-1130-53011 739.31
13985 1/10/2025 SGVWC S.G.V. WATER CO 118.67
INV0012030 11/13-12/16 WTR-15900 MAIN ST 200-3120-53714 118.67 13986 1/10/2025 SCMAFI SOUTHERN CALIF MUNICIPAL 2,262.75 121924/lapuente Class registrations SCMAf fees 100-4100-53111 2,262.75 13987 1/10/2025 SGTRA SOUTHLAND TRANSIT INC 64,776.54
LAPUENTE1124 11/24 DIAL A RODE 210-3130-53916 12,255.82 LAPUENTE1124 11/24 LP LINK 210-3130-53917 54,341.47
LAPUENTE1124 11/24 DIAL A RODE FARE 210-46100 -87.25
LAPUENTE1124 11/24 LP LINK FARE 210-46105 -1,733.50
13988 1/10/2025 STANLE STANLEY PEST CONTROL, INC. 85.00 1843037 ABBEY ST PEST CONTROL 200-3120-53814 85.00
13989 1/10/2025 SOSUBW SUBURBAN WATER SYSTEMS 1,771.20
180013486714 11/21-12/19 WTR-6000133466 200-3120-53714 104.79 180023055922 11/21-12/19 WTR-6000076363 200-3120-53714 550.34 180023055974 11/21-12/19 WTR-6000076674 200-3120-53714 86.94 180071772513 11/21-12/19 WTR-6000064023 200-3120-53714 175.61 180090867497 11/21-12/19 WTR-6000078315 200-3120-53714 225.25 180090867507 11/21-12/19 WTR-6000078449 200-3120-53714 274.31 181004216939 11/21-12/19 WTR-6000060246 200-3120-53714 164.97 181004216943 11/21-12/19 WTR-6000060264 200-3120-53714 188.99 13990 1/10/2025 TERMI TERMINIX PROCESSING CENTER 176.00 454672100 12/12 COMM CTR PEST CONTROL 285-3330-53813 59.00 454672121 12/12 COMM CTR PEST CONTROL 285-3330-53813 55.00 454672133 12/12 YLAC PEST CONTROL 285-3330-53813 62.00
13991 1/10/2025 TCFNAT THE HUNTINGTON NATIONAL BANK 4,236.88 1221027 10/13-11/24 TORO REEL MASTER SVC 285-3330-53911 2,118.44 1289618 11/12-12/04 TORO REEL MASTER SVC 285-3330-53911 2,118.44 13992 1/10/2025 THESAU THE SAUCE CREATIVE SERVICES CORP 670.26 7318 YWFP MTCE JACKETS 280-3300-53015 670.26
13993 1/10/2025 INCTIC TICKLOT INC. 9,956.00
INV-02204045 5G CELLULAR WIFI ROUTER (QTY 5) 550-6100-53018 9,956.00 13994 1/10/2025 TMOBILE T-MOBILE 527.26
INV0012008 11/21-12/20 PHONE-PUBLIC SAFETY 100-2100-53715 527.26 13995 1/10/2025 TMOBILE T-MOBILE 201.04
INV0012010 11/21-12/20 PHONE-CE WIRELESS 100-2110-53715 201.04 Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 6 of 16
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
13996 1/10/2025 TMOBILE T-MOBILE 1,408.61
INV0012009 11/21-12/20 PHONE-MTCE WIRELESS 100-3100-53715 1,408.61 13997 1/10/2025 TUST TURF STAR, INC. 322.26
INV061923 UTILITY CART HITCH KIT 555-3150-53812 322.26
13998 1/10/2025 ULINE ULINE 279.98
186360484 3-TRAY DISPLAY CASE 100-3330-53976 279.98
13999 1/10/2025 WALIRW WALTERS WHOLESALE ELECTRIC CO. 367.08 S126905975.1 CH ELECTRICAL SUPPLIES 100-1150-53813 268.88 S126950935.1 SNACK BAR BALLAST 285-3330-53822 98.20
14000 1/10/2025 MALZEN ZENAIDA MALDONADO 396.00
023101 CENTER PIECES VETERANS DAY EVENT 100-4140-53979 396.00 14001 1/10/2025 ZUMIND ZUMAR INDUSTRIES 436.42
10027 STOP SIGN POLES 200-3120-53821 436.42
14002 1/17/2025 STADIS CALIFORNIA STATE DISBURSEMENT UNIT 292.00 INV0012052 CHILD SUPPORT 100-20399 292.00
14003 1/17/2025 USBANK U.S BANK PARS ACCT# 6746022400 5,502.19 INV0012059 PARS RETIREMENT 100-20340 2,905.24
INV0012059 PARS RETIREMENT 203-20340 270.19
INV0012059 PARS RETIREMENT 205-20340 487.44
INV0012059 PARS RETIREMENT 260-20340 157.93
INV0012059 PARS RETIREMENT 280-20340 1,575.81
INV0012059 PARS RETIREMENT 285-20340 105.58
14004 1/17/2025 AEGSLN AEG SOLUTIONS 210.53
83207 PLOTTER INK 100-4100-53111 210.53
14005 1/17/2025 AGRO AGROMIN 2,499.20
0034124-IN TOPPER MIX 285-3330-53814 1,249.60
0034127-IN TOPPER MIX 285-3330-53814 1,249.60
14006 1/17/2025 AMABUS AMAZON CAPITAL SERVICES INC 796.50 14KQ-YWFX-J1KT KEY RINGS & ID BADGES 100-3330-53011 127.26 19V9-JD1W-H4G6 CAR MAGNETS 100-4100-53011 -65.94
1FMP-D7XM-T71T CC OFFICE SUPPLIES 100-4100-53011 15.38
1PCL-F6J4-GTJ3 CITY CLERK SUPPLIES 100-1120-53011 38.14 1PRJ-GYMQ-R4WD ERGONOMIC WIRELESS MOUSE 550-6100-53018 27.49 1R4J-QFGR-NJXQ COMPUTER MONITORS 550-6100-53018 593.94
1VVV-MMHK-GMHF BANKER BOXES 100-1130-53011 60.23
14007 1/17/2025 ATT AT&T 93.43
000022798538 11/28-12/27 PHONE-SR CENTER 911 100-4130-53715 93.43 14008 1/17/2025 B2PRIN B2 PRINT 340.00
0013087 BUSS CARDS-KLINAKIS,MUNOZ & QUINONES 100-1100-53976 340.00 14009 1/17/2025 BRILAN BRIGHTVIEW LANDSCAPING SERVICES INC. 11,897.75 9153859 12/24 SR CTR LANDSCAPE SVC 100-4130-53814 253.50 9153859 12/24 MEDIANS LANDSCAPE SVC 200-3120-53814 6,446.68 9153859 12/24 AMAR/SAUDER ST LANDSCAPE SVC 200-3120-53814 481.00 9153859 12/24 CH LANDSCAPE SVC 285-3330-53814 2,391.91
9153859 12/24 NATURE CENTER LANDSCAPE SVC 285-3330-53814 2,324.66 14010 1/17/2025 CALASS CALIFORNIA ASSOCIATION OF CODE OFFICERS 200.00 300021252 CACEO MEMBERSHIP - JCASTANEDA 100-2110-53971 100.00 300021257 CACEO MEMBERSHIP - ACASTANEDA 100-2110-53971 100.00 Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 7 of 16
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
14011 1/17/2025 GRUDA DANIEL GRUMET 19,800.00
01 CONCESSION TRAILER-COMMUNITY EVENTS 555-3150-54484 19,800.00 14012 1/17/2025 DELCOM DELHAVEN COMMUNITY CENTER 110.00 118 12/24 CAR DETAILING 555-3150-53812 110.00
14013 1/17/2025 DSA DIVISION OF THE STATE ARCHITECT 116.00 INV0012042 SB1186 OCT-NOV-DEC 2024 100-42160 116.00
14014 1/17/2025 EDISON EDISON CO 41,788.32
INV0012045 11/25-12/25 ELEC - YLAC 100-4110-53712 1,936.45 INV0012066 10/30-12/01 ELEC - VARIOUS 200-3120-53713 292.70 INV0012067 10/30-12/01 ELEC - PARK SERVICE 285-3330-53712 414.30 INV0012068 10/30-12/01 ELEC - TRAFFIC CONTROL 200-3120-53713 1,556.54 INV0012069 11/25-12/25 ELEC - 15612 TEMPLE AVE 285-3330-53712 8,693.31 INV0012070 11/25-12/25 ELEC - 15614 TEMPLE AVE 285-3330-53712 1,893.50 INV0012071 12/02-01/01 ELEC - CH SOLAR PANELS 100-1150-53712 2,602.81 INV0012072 12/01-12/31 ELEC - VARIOUS 200-3120-53713 7,870.52 INV0012073 12/01-12/31 ELEC - ST LIGHTS LS-2B 285-3330-53712 2,005.31 INV0012075 12/01-12/31 ELEC - 1744 ST LIGHTS LS-1/OPTION E 285-3330-53712 13,107.46 INV0012076 12/03-01/02 ELEC - 15250 TEMPLE AVE 200-3120-53713 27.73 INV0012078 12/03-01/02 ELEC - 14951 NELSON AVE 200-3120-53713 115.81 INV0012079 11/25-12/25 ELEC - 14416 AMAR RD TC1 200-3120-53713 71.25 INV0012080 11/05-12/05 ELEC - 13798 TEMPLE AVE 200-3120-53713 45.37 INV0012081 11/25-12/25 ELEC - 501 N GLENDORA-SOLAR PANELS 285-3330-53712 1,155.26 14015 1/17/2025 EMPAME EMPLOY AMERICA 4,004.00
58L2401-IN 12/24 BUS SHELTER MTCE 210-3130-53816 4,004.00 14016 1/17/2025 COMFAS FASTENAL COMPANY 899.43
CACIT79816 JANITORIAL SUPPLIES 285-3330-53822 202.93
CACIT79817 SR CENTER JANITORIAL SUPPLIES 100-4130-53813 130.57 CACIT79818 LP PARK JANITORIAL SUPPLIES 100-3330-53011 515.55 CACIT79819 JANITORIAL SUPPLIES 100-4100-53011 50.38
14017 1/17/2025 GARDA GARDAWORLD 16.42
20626839 12/24 EXCESS ITEMS 100-1130-53111 16.42
14018 1/17/2025 HMEDEP HOME DEPOT CRC 2,105.64
1273695 TREE PLANTING - TEMPLE 200-3120-53815 119.90
1285381 MTCE SUPPLIES 100-3330-53012 330.14
2285333 CC SUPPLIES 100-4110-53813 122.33
2285334 MTCE SUPPLIES 100-3100-53012 32.59
273757 CH PLANTS 100-1150-53814 79.78
3510006 GRAFITTI SUPPLIES 200-3120-53016 400.55
384937 MTCE TOOLS 100-3100-53012 94.44
391493 MTCE TOOLS 100-3100-53012 103.06
3970399 MTCE TOOLS 200-3120-53016 122.46
7522787 ICE CREAM TRAILER REPAIR 555-3150-53812 120.14
8043550 MTCE SUPPLIES 100-3100-53012 519.02
9970638 BASEBALL FIELD 285-3330-53822 61.23
14019 1/17/2025 JCLBAR JCL TRAFFIC 162.46
127380 ST SIGNAGE 200-3120-53821 162.46
14020 1/17/2025 JOSREY JOSE REYES 340.90
INV0012085 01/01-15 SHOPPING CART-MILEAGE REIM REYES 555-3150-53014 340.90 14021 1/17/2025 JUKIM JUSTIN KIM 750.00
INV0012040 2024/25 SCHOLARSHIP REIM - KIM 100-4140-53992 750.00 14022 1/17/2025 KSKFAC KSK FACILITIES 4,145.00
2063 12/24 CH JANITORIAL SVC 100-1150-53813 2,650.00
Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 8 of 16
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
2064 12/24 SR CENTER JANITORIAL SVC 100-4130-53813 1,495.00 14023 1/17/2025 LAWARB LAWN AND ARBORIST DEPOT 328.78
2474 MTCE TOOLS 100-3100-53012 63.62
2475 MTCE SUPPLIES 100-3100-53012 68.58
2488 MTCE TOOLS 100-3100-53012 139.66
2492 CHAIN SAW 100-3100-53012 56.92
14024 1/17/2025 MARK MARCO ERICK PONCE 5,000.00
98 WROUGHT IRON FENCE REPAIR - PROGRESS PYMT 285-3330-53822 5,000.00 14025 1/17/2025 MERRIT MERRITTS HARDWARE 2,196.86
143554 LPCF - CLEANING SUPPLIES 100-1150-53011 52.07
143561 MTCE - CITY LOCKS 100-3100-53012 342.94
143574 MTCE SUPPLIES 100-3100-53012 67.06
143619 MTCE - TOOLS 285-3330-53822 15.38
143620 IT PROJECT TOOLS 100-1150-53012 17.70
143637 CC GYM 100-4100-53813 48.38
143638 MTCE SUPPLIES AND DOOR KEY 100-4140-53979 115.82 143639 MTCE - TOOLS 100-3100-53012 39.58
143644 MTCE TOOL - I.T. PROJECT 100-1150-53012 21.03
143646 MTCE SUPPLIES 100-3100-53012 66.00
143649 CONTRACTORS BAGS 100-2130-53011 37.38
143665 MTCE - TOOLS 100-3100-53012 137.60
143689 MTCE TOOL 100-4100-53813 54.99
143695 GRAFFITI REMOVAL SUPPLIES 200-3120-53016 122.76
143698 MTCE SUPPLIES 100-3100-53012 52.87
143699 MTCE SUPPLIES 100-3100-53012 43.49
143700 MTCE TOOLS 100-3100-53012 39.47
143707 MTCE TOOLS 100-3100-53012 18.68
143711 MTCE SUPPLIES 100-3330-53012 14.48
143726 CH SUPPLIES 100-1150-53012 12.29
143734 I.T. SUPPLIES FOR CAMERA SET-UP 100-3100-53012 226.19 143787 CLEANING SUPPLY 100-3330-53012 4.39
143790 GRAFFITI SUPPLIES 200-3120-53016 4.38
143803 MTCE TOOL 100-3100-53012 8.79
143827 MTCE TOOL 100-3100-53012 49.47
143828 GRAFFITI REMOVAL 200-3120-53016 17.58
143834 GRAFFITI SUPPLIES 200-3120-53016 15.38
143849 MTCE SUPPLIES 285-3330-53813 26.39
143867 MTCE EQUIPMENT 100-3100-53012 54.38
143874 MTCE TOOLS 100-3100-53012 32.97
143888 MTCE TOOLS 100-3100-53012 6.14
143889 BATTERY 100-3100-53011 43.98
143900 HOLIDAY GIFT BOXES 100-4140-53979 52.73
143921 CLEANING SUPPLIES 100-3300-53011 47.03
143948 GRAFFITI SUPPLIES 200-3120-53016 25.28
143958 CH KITCHEN TOOL 100-1150-53811 87.99
143971 MTCE SUPPLIES 100-3100-53012 38.48
143976 HOLIDAY GIFT BOXES AND DECORATIONS 100-4140-53979 61.49 143988 TRASH BAGS FOR LP PARK 285-3330-53822 17.58
144007 CLEANING SUPPLIES FOR LP GRUB 100-4110-53011 56.27 14027 1/17/2025 MODES CRESSE LYNN RODRIGUEZ 750.00
127151 BUS SHELTER PAINTING 210-3130-53816 750.00
14028 1/17/2025 OMLO OLIVAREZ MADRUGA LAW ORGANIZATION, LLP 19,334.19 26571 11/24 LEGAL-CITY COUNCIL 100-1110-53114 5,556.87
26572 11/24 LEGAL-CODE ENFORCEMENT 100-1110-53114 660.00 26574 11/24 LEGAL-CITY CLERK 100-1110-53114 55.30
26575 11/24 LEGAL-RISK MANAGEMENT 100-1110-53114 10,583.02 Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 9 of 16
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
26576 11/24 LEGAL-PLANNING 100-1110-53114 1,537.00
26577 11/24 LEGAL-COMMUNITY SVC 100-1110-53114 942.00
14029 1/17/2025 LAPUPC PETTY CASH 87.26
INV0012049 DOLLAR TREE- SAUCEDO 100-4100-53012 33.75
INV0012049 CJPIA TRAINING SNACKS -VALVERDE 100-4100-53972 11.73 INV0012049 AMAZON- VALVERDE 100-4140-53979 26.25
INV0012049 HOLIDAY MOVIES IN THE PARK - VALVERDE 100-4140-53979 5.69 INV0012049 AMAZON-VALVERDE 100-4140-53979 9.84
14030 1/17/2025 PROYOU PROTECT YOUTH SPORTS 23.00
1226837 BACKGROUND CHECK - SPORTS PROGRAMS 100-4110-53980 23.00 14031 1/17/2025 PYROSP PYRO SPECTACULARS, INC. 17,500.00 500 PYRO FIREWORK SHOW JULY 3, 2025 100-4140-53979 17,500.00 14032 1/17/2025 QUAD QUADIENT 4,093.19
INV0012084 CH POSTAGE 100-1150-53211 4,093.19
14033 1/17/2025 REGION REGIONAL TAP SERVICE CENTER 996.90 6024230 12/24 EZ/FOOTHILL MONTHLY PASSES 210-3130-53915 996.90 14034 1/17/2025 SHOINC SHOETERIA INC. 416.86
0076131-IN YWFP - BOOTS TORRES 280-3300-53015 72.24
0076245-IN YWFP- BOOTS PONCE 280-3300-53015 59.49
0076682-IN YWFP - BOOTS VILLAEORTE 280-3300-53015 88.81 0078494-IN YWFP-BOOTS AGUILAR 280-3300-53015 98.16
0078495-IN YWFP- BOOTS HURTS 280-3300-53015 98.16
14035 1/17/2025 SITEON SITEONE LANDSCAPE SUPPLY, LLC 1,371.25 148713779-001 IRRIGATION SUPPLIES 285-3330-53822 552.37 148714752-001 IRRIGATION SUPPLIES 285-3330-53822 349.01 148903223-001 IRRIGATION SUPPLIES 285-3330-53822 375.39 148903464-001 IRRIGATION SUPPLIES 285-3330-53822 94.48
14036 1/17/2025 SOUTIR SOUTHERN TIRE MART 58.03
7070028673 TIRE REPAIR 555-3150-53812 58.03
14037 1/17/2025 SGTRA SOUTHLAND TRANSIT INC 65,273.82
LAPUENTE1224 12/24 DIAL A RIDE 210-3130-53916 10,257.88 LAPUENTE1224 12/24 LP LINK 210-3130-53917 56,827.94
LAPUENTE1224 12/24 DIAL A RIDE FARE 210-46100 -57.25
LAPUENTE1224 12/24 LP LINK FARE 210-46105 -1,754.75
14038 1/17/2025 MENSTE STEPHANIE MENDOZA 255.88
INV0012048 SCHOLARSHIP REIM - MENDOZA 100-4140-53992 255.88 14039 1/17/2025 SOSUBW SUBURBAN WATER SYSTEMS 273.11
180032714667 12/04-01/06 WTR - 137 HUDSON 100-1150-53714 273.11 14040 1/17/2025 TARGET TARGET SPECIALTY PRODUCTS 939.58 INVP501721831 HERBICIDE 285-3330-53814 939.58
14041 1/17/2025 TERMI TERMINIX PROCESSING CENTER 286.00 454665959 12/12 SR CENTER PEST CO 100-4130-53813 90.00
454668656 12/12 CH PEST CONTROL 100-1150-53813 111.00
454668672 12/12 CH PEST CONTROL 100-1150-53813 85.00
14042 1/17/2025 GASCO THE GAS COMPANY 2,858.46
INV0012044 12/04-01/04 GAS - SR CENTER 100-4130-53711 273.78 INV0012046 12/05-01/06 GAS - YLAC 100-4110-53711 620.38 INV0012047 12/05-01/06 GAS - COMMUNITY CENTER 100-4100-53711 116.18 INV0012082 12/05-01/06 GAS - CITY HALL 100-1150-53711 1,700.34 Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 10 of 16
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
INV0012083 12/05-01/06 GAS - PARK SERVICES 285-3330-53711 147.78 14043 1/17/2025 ULINE ULINE 419.96
186707690 MTCE - WORK GLOVES/AMERICAN FLAG/BEANIES 100-3330-53011 419.96 14044 1/17/2025 WALIRW WALTERS WHOLESALE ELECTRIC CO. 145.33 S126905975.002 ELECTRICAL SUPPLIES 100-4100-53813 145.33 14045 1/17/2025 WESCO WEST COAST ARBORISTS INC 2,670.50 223741 12/16-12/31 PKWY TREE MTCE 200-3120-53815 2,670.50 14046 1/17/2025 WILENG WILLDAN ENGINEERING 64,639.40
002-33758 12/24 BLDG & SAFETY SVC 100-3310-53111 36,876.37 003-39966 11/24 TRAFFIC ENGINEERING 100-3110-53120 1,689.00 003-39967 11/24 - NPDES SVC 284-3100-53111 6,274.33
003-39968 11/24 ATP CYCLE 6-DESIGN 200-3120-53111 578.50 003-39976 11/24 ENGINEERING PERMITS 100-3110-53120 9,781.20 003-40006 11/24 LOCAL STREETS DESIGN 202-5598-59210 8,600.00 00629145 11/24 - NWELO DEPOSIT 600-23292 840.00
DFT0002783 1/10/2025 WEXBANK WEX BANK 7,251.91
101704976 12/24 FUEL PURCHASES 555-3150-53014 7,251.91
DFT0002784 1/9/2025 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 159.00 INV0012014 EMPLOYER CONTRIBUTION 100-20360 141.97
INV0012014 EMPLOYER CONTRIBUTION 260-20360 17.03
DFT0002785 1/9/2025 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 152.00 INV0012015 PERS- NEW EMPLY CONTRB 100-20399 135.72
INV0012015 PERS- NEW EMPLY CONTRB 260-20399 16.28
DFT0002786 1/9/2025 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 1.00 INV0012016 SURVIVORS LIFE INSURANCE 100-20350 0.89
INV0012016 SURVIVORS LIFE INSURANCE 260-20350 0.11
DFT0002787 1/9/2025 EMPLOY EMPLOYMENT DEVELOPMENT DEPT 165.81 INV0012018 STATE INCOME TAX 100-20310 161.96
INV0012018 STATE INCOME TAX 260-20310 3.85
DFT0002788 1/9/2025 IRSPR IRS PAYROLL TAX DEPOSIT 435.02 INV0012019 FEDERAL WITHHOLDING 100-20300 422.39
INV0012019 FEDERAL WITHHOLDING 260-20300 12.63
DFT0002789 1/9/2025 IRSPR IRS PAYROLL TAX DEPOSIT 141.28 INV0012020 MEDICARE TAX 100-20300 135.56
INV0012020 MEDICARE TAX 260-20300 5.72
DFT0002790 1/10/2025 CAPERS CALPERS 21,437.40
100000017760422 RBF 2025 CONSTRIBUTION 100-1135-51211 21,437.40 DFT0002791 1/10/2025 CAPERS CALPERS 500.00
100000017758552 ADMINISTRATION FEE 100-1135-51211 500.00 DFT0002794 1/17/2025 ICMARC MISSION SQUARE RETIREMENT 76.78 INV0012053 EMPLOYEE LOAN REPYMT 100-20399 43.32
INV0012053 EMPLOYEE LOAN REPYMT 200-20399 7.82
INV0012053 EMPLOYEE LOAN REPYMT 203-20399 1.74
INV0012053 EMPLOYEE LOAN REPYMT 205-20399 1.74
INV0012053 EMPLOYEE LOAN REPYMT 210-20399 11.73
INV0012053 EMPLOYEE LOAN REPYMT 215-20399 1.74
INV0012053 EMPLOYEE LOAN REPYMT 260-20399 3.48
INV0012053 EMPLOYEE LOAN REPYMT 280-20399 5.21
Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 11 of 16
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
DFT0002795 1/17/2025 ICMARC MISSION SQUARE RETIREMENT 2,180.00 INV0012054 EMPLOYEE CONTRIBUTIONS 100-20399 1,222.38
INV0012054 EMPLOYEE CONTRIBUTIONS 200-20399 115.28
INV0012054 EMPLOYEE CONTRIBUTIONS 202-20399 106.99
INV0012054 EMPLOYEE CONTRIBUTIONS 203-20399 113.21
INV0012054 EMPLOYEE CONTRIBUTIONS 205-20399 106.99
INV0012054 EMPLOYEE CONTRIBUTIONS 210-20399 157.85
INV0012054 EMPLOYEE CONTRIBUTIONS 215-20399 195.94
INV0012054 EMPLOYEE CONTRIBUTIONS 260-20399 93.08
INV0012054 EMPLOYEE CONTRIBUTIONS 264-20399 56.40
INV0012054 EMPLOYEE CONTRIBUTIONS 280-20399 11.88
DFT0002796 1/17/2025 NATRS NATIONWIDE RETIREMENT 330.00 INV0012055 Employee Contribution 100-20340 306.90
INV0012055 Employee Contribution 200-20340 4.62
INV0012055 Employee Contribution 203-20340 4.62
INV0012055 Employee Contribution 205-20340 4.62
INV0012055 Employee Contribution 210-20340 4.62
INV0012055 Employee Contribution 215-20340 4.62
DFT0002797 1/17/2025 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 20,919.90 INV0012056 EMPLOYER CONTRIBUTION 100-20360 16,921.28
INV0012056 EMPLOYER CONTRIBUTION 200-20360 751.00
INV0012056 EMPLOYER CONTRIBUTION 202-20360 151.22
INV0012056 EMPLOYER CONTRIBUTION 203-20360 393.96
INV0012056 EMPLOYER CONTRIBUTION 205-20360 421.17
INV0012056 EMPLOYER CONTRIBUTION 210-20360 610.74
INV0012056 EMPLOYER CONTRIBUTION 215-20360 324.42
INV0012056 EMPLOYER CONTRIBUTION 260-20360 714.25
INV0012056 EMPLOYER CONTRIBUTION 264-20360 184.67
INV0012056 EMPLOYER CONTRIBUTION 280-20360 86.93
INV0012056 EMPLOYER CONTRIBUTION 283-20360 181.32
INV0012056 EMPLOYER CONTRIBUTION 285-20360 178.94
DFT0002798 1/17/2025 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 15,052.50 INV0012057 PERS- NEW EMPLY CONTRB 100-20399 12,187.77
INV0012057 PERS- NEW EMPLY CONTRB 200-20399 497.83
INV0012057 PERS- NEW EMPLY CONTRB 202-20399 144.56
INV0012057 PERS- NEW EMPLY CONTRB 203-20399 284.41
INV0012057 PERS- NEW EMPLY CONTRB 205-20399 311.80
INV0012057 PERS- NEW EMPLY CONTRB 210-20399 386.07
INV0012057 PERS- NEW EMPLY CONTRB 215-20399 289.78
INV0012057 PERS- NEW EMPLY CONTRB 260-20399 490.60
INV0012057 PERS- NEW EMPLY CONTRB 264-20399 127.69
INV0012057 PERS- NEW EMPLY CONTRB 280-20399 67.26
INV0012057 PERS- NEW EMPLY CONTRB 283-20399 173.34
INV0012057 PERS- NEW EMPLY CONTRB 285-20399 91.39
DFT0002799 1/17/2025 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 899.47 INV0012058 EMPLOYEE PORTION 100-20360 869.26
INV0012058 EMPLOYEE PORTION 200-20360 10.07
INV0012058 EMPLOYEE PORTION 210-20360 20.14
DFT0002800 1/17/2025 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 64.00 INV0012060 SURVIVORS LIFE INSURANCE 100-20350 55.54
INV0012060 SURVIVORS LIFE INSURANCE 200-20350 1.59
INV0012060 SURVIVORS LIFE INSURANCE 202-20350 0.17
INV0012060 SURVIVORS LIFE INSURANCE 203-20350 0.68
INV0012060 SURVIVORS LIFE INSURANCE 205-20350 0.74
INV0012060 SURVIVORS LIFE INSURANCE 210-20350 1.19
INV0012060 SURVIVORS LIFE INSURANCE 215-20350 0.43
Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 12 of 16
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
INV0012060 SURVIVORS LIFE INSURANCE 260-20350 1.69
INV0012060 SURVIVORS LIFE INSURANCE 264-20350 0.49
INV0012060 SURVIVORS LIFE INSURANCE 280-20350 0.39
INV0012060 SURVIVORS LIFE INSURANCE 283-20350 0.68
INV0012060 SURVIVORS LIFE INSURANCE 285-20350 0.41
DFT0002801 1/17/2025 EMPLOY EMPLOYMENT DEVELOPMENT DEPT 7,238.35 INV0012063 STATE INCOME TAX 100-20310 5,725.87
INV0012063 STATE INCOME TAX 200-20310 188.84
INV0012063 STATE INCOME TAX 202-20310 83.71
INV0012063 STATE INCOME TAX 203-20310 170.64
INV0012063 STATE INCOME TAX 205-20310 163.30
INV0012063 STATE INCOME TAX 210-20310 187.44
INV0012063 STATE INCOME TAX 215-20310 165.66
INV0012063 STATE INCOME TAX 260-20310 275.85
INV0012063 STATE INCOME TAX 264-20310 26.58
INV0012063 STATE INCOME TAX 280-20310 131.41
INV0012063 STATE INCOME TAX 283-20310 65.94
INV0012063 STATE INCOME TAX 285-20310 53.11
DFT0002802 1/17/2025 IRSPR IRS PAYROLL TAX DEPOSIT 20,198.93 INV0012064 FEDERAL WITHHOLDING 100-20300 15,816.70
INV0012064 FEDERAL WITHHOLDING 200-20300 521.23
INV0012064 FEDERAL WITHHOLDING 202-20300 214.56
INV0012064 FEDERAL WITHHOLDING 203-20300 412.75
INV0012064 FEDERAL WITHHOLDING 205-20300 477.67
INV0012064 FEDERAL WITHHOLDING 210-20300 583.30
INV0012064 FEDERAL WITHHOLDING 215-20300 424.67
INV0012064 FEDERAL WITHHOLDING 260-20300 833.35
INV0012064 FEDERAL WITHHOLDING 264-20300 71.74
INV0012064 FEDERAL WITHHOLDING 280-20300 518.72
INV0012064 FEDERAL WITHHOLDING 283-20300 171.53
INV0012064 FEDERAL WITHHOLDING 285-20300 152.71
DFT0002803 1/17/2025 IRSPR IRS PAYROLL TAX DEPOSIT 7,806.52 INV0012065 MEDICARE TAX 100-20300 5,767.32
INV0012065 MEDICARE TAX 200-20300 181.18
INV0012065 MEDICARE TAX 202-20300 50.82
INV0012065 MEDICARE TAX 203-20300 205.78
INV0012065 MEDICARE TAX 205-20300 299.16
INV0012065 MEDICARE TAX 210-20300 145.06
INV0012065 MEDICARE TAX 215-20300 102.12
INV0012065 MEDICARE TAX 260-20300 235.86
INV0012065 MEDICARE TAX 264-20300 45.48
INV0012065 MEDICARE TAX 280-20300 633.22
INV0012065 MEDICARE TAX 283-20300 65.66
INV0012065 MEDICARE TAX 285-20300 74.86
Grand Total: 1,647,260.24
Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 13 of 16
Report Summary
Fund Summary
Fund Payment Amount
100 - GENERAL FUND 1,111,055.61
200 - GAS TAX FUND 40,330.14
202 - RMRA (SB 1) 9,352.03
203 - MEASURE M FUND 1,868.97
205 - MEASURE R FUND 2,282.86
210 - PROP A FUND 137,971.00
215 - PROP C FUND 1,518.24
260 - CDBG PROGRAM FUND 2,950.45
264 - HOUSING-PLHA 513.05
270 - AIR QUALITY IMPROVEMENT FUND 147,747.68
275 - PEG ACCESS FUND 17,916.75
280 - MISCELLANEOUS GRANTS FUND 14,039.24
283 - MEASURE A SAFE PARKS FUND 697.74
284 - MEASURE W 6,274.33
285 - LIGHTING & LANDSCAPE MAINTENANCE 55,954.37
550 - EQUIPMENT REPLACEMENT FUND 31,867.49
555 - VEHICLE MAINTENANCE & REPLACEMENT FUND 63,076.77
600 - SPECIAL DEPOSIT FUND 1,843.52
Grand Total: 1,647,260.24
Account Summary
Account Number Account Name Payment Amount
100-1100-53111 Contract Services - Priva… 2,500.00
100-1100-53976 Special Departmental 340.00
100-1110-53114 Legal Services - General 19,334.19
100-1120-53011 Operating Supplies 38.14
100-1130-53011 Operating Supplies 799.54
100-1130-53111 Contract Services - Priva… 904.88
100-1135-51211 Retirement 21,937.40
100-1135-51311 Other Health - DOC 1,584.00
100-1135-53011 Operating Supplies 13.19
100-1135-53406 Recruitment Expenses 58.00
100-1150-53011 Operating Supplies 3,471.49
100-1150-53012 Small Tools & Equipment 51.02
100-1150-53211 Postage & Mailing Servic… 4,093.19
100-1150-53711 Utility - Gas 1,700.34
100-1150-53712 Utility - Electricity 2,602.81
100-1150-53714 Utility - Water 273.11
100-1150-53715 Utility - Communications 1,044.10
100-1150-53811 Equipment Maintenance 2,563.91
100-1150-53813 Facility Maintenance 3,197.50
100-1150-53814 Landscape Maintenance 79.78
100-1150-53911 Equipment Lease/Rental 2,140.88
100-20300 FIT Payable 22,141.97
100-20310 SIT Payable 5,887.83
100-20340 PARS 3,212.14
100-20350 Group Insurance 56.43
100-20360 PERS 17,932.51
100-20380 Union Dues 1,623.08
100-20399 Other Payroll Deductions 13,881.19
100-2100-53110 Contract Services - LA Sh… 653,784.64
100-2100-53186 Liability Trust Fund 78,518.53
100-2100-53715 Utility - Communications 527.26
100-2110-53111 Contract Services - Priva… 17,383.33
100-2110-53114 Legal Services - General 71.80
100-2110-53715 Utility - Communications 201.04
100-2110-53971 Dues & Memberships 200.00
Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 14 of 16
Account Summary
Account Number Account Name Payment Amount
100-2130-53011 Operating Supplies 85.88
100-2130-53015 Uniform/Boot Reimburs… 569.89
100-2130-53111 Contract Services - Priva… 10,420.00
100-3100-53011 Operating Supplies 43.98
100-3100-53012 Small Tools & Equipment 2,492.17
100-3100-53111 Contract Services - Priva… 9,342.50
100-3100-53715 Utility - Communications 1,408.61
100-3110-53120 Engineering Permits 11,470.20
100-3110-53121 Industrial Waste Inspect… 4,811.33
100-3300-53011 Operating Supplies 154.81
100-3300-53111 Contract Services - Priva… 4,118.68
100-3310-53111 Contract Services - Priva… 36,876.37
100-3330-53011 Operating Supplies 1,062.77
100-3330-53012 Small Tools & Equipment 1,153.42
100-3330-53015 Uniform/Boot Reimburs… 485.37
100-3330-53822 Park Maintenance & Re… 36,537.48
100-3330-53976 Special Departmental 279.98
100-4100-53011 Operating Supplies 208.20
100-4100-53012 Small Tools & Equipment 33.75
100-4100-53111 Contract Services - Priva… 17,393.88
100-4100-53711 Utility - Gas 1,068.34
100-4100-53715 Utility - Communications 63.96
100-4100-53811 Equipment Maintenance 809.06
100-4100-53813 Facility Maintenance 248.70
100-4100-53972 Conferences & Meetings 11.73
100-4110-53011 Operating Supplies 56.27
100-4110-53711 Utility - Gas 620.38
100-4110-53712 Utility - Electricity 1,936.45
100-4110-53714 Utility - Water 952.17
100-4110-53813 Facility Maintenance 122.33
100-4110-53980 Sports Activities 711.59
100-4130-53011 Operating Supplies 293.25
100-4130-53012 Small Tools & Equipment 533.46
100-4130-53711 Utility - Gas 273.78
100-4130-53715 Utility - Communications 212.65
100-4130-53811 Equipment Maintenance 524.70
100-4130-53813 Facility Maintenance 2,285.57
100-4130-53814 Landscape Maintenance 253.50
100-4130-53979 Special Events 258.50
100-4140-53979 Special Events 20,417.82
100-4140-53992 Scholarships 1,385.43
100-4140-53993 Youth Activities Program 285.12
100-42160 SB 1186 (CASP Fee) 116.00
100-48900 Miscellaneous -80.47
100-5609-59300 Construction Costs 54,596.83
200-20300 FIT Payable 702.41
200-20310 SIT Payable 188.84
200-20340 PARS 4.62
200-20350 Group Insurance 1.59
200-20360 PERS 761.07
200-20380 Union Dues 64.96
200-20399 Other Payroll Deductions 620.93
200-3120-53012 Small Tools & Equipment 348.47
200-3120-53016 Graffiti Removal Supplies 708.39
200-3120-53111 Contract Services - Priva… 578.50
200-3120-53713 Utility - Hwy Lights 9,979.92
200-3120-53714 Utility - Water 4,338.74
200-3120-53814 Landscape Maintenance 7,012.68
Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 15 of 16
Account Summary
Account Number Account Name Payment Amount
200-3120-53815 Parkway Tree Maintena… 2,790.40
200-3120-53819 Signal Maintenance 10,936.70
200-3120-53821 Traffic Markings/Signs 1,291.92
202-20300 FIT Payable 265.38
202-20310 SIT Payable 83.71
202-20350 Group Insurance 0.17
202-20360 PERS 151.22
202-20399 Other Payroll Deductions 251.55
202-5598-59210 Design Engineering 8,600.00
203-20300 FIT Payable 618.53
203-20310 SIT Payable 170.64
203-20340 PARS 274.81
203-20350 Group Insurance 0.68
203-20360 PERS 393.96
203-20380 Union Dues 10.99
203-20399 Other Payroll Deductions 399.36
205-20300 FIT Payable 776.83
205-20310 SIT Payable 163.30
205-20340 PARS 492.06
205-20350 Group Insurance 0.74
205-20360 PERS 421.17
205-20380 Union Dues 8.23
205-20399 Other Payroll Deductions 420.53
210-20300 FIT Payable 728.36
210-20310 SIT Payable 187.44
210-20340 PARS 4.62
210-20350 Group Insurance 1.19
210-20360 PERS 630.88
210-20380 Union Dues 61.60
210-20399 Other Payroll Deductions 555.65
210-3130-53816 Bus Shelter Maintenance 4,754.00
210-3130-53915 Public Transit Subsidy 996.90
210-3130-53916 Dial-A-Ride Services 22,513.70
210-3130-53917 Fixed Route Shuttle 111,169.41
210-46100 Dial-A-Ride Fares -144.50
210-46105 Shuttle Fares -3,488.25
215-20300 FIT Payable 526.79
215-20310 SIT Payable 165.66
215-20340 PARS 4.62
215-20350 Group Insurance 0.43
215-20360 PERS 324.42
215-20380 Union Dues 8.86
215-20399 Other Payroll Deductions 487.46
260-20300 FIT Payable 1,087.56
260-20310 SIT Payable 279.70
260-20340 PARS 157.93
260-20350 Group Insurance 1.80
260-20360 PERS 731.28
260-20380 Union Dues 88.74
260-20399 Other Payroll Deductions 603.44
264-20300 FIT Payable 117.22
264-20310 SIT Payable 26.58
264-20350 Group Insurance 0.49
264-20360 PERS 184.67
264-20399 Other Payroll Deductions 184.09
270-3100-54484 Vehicle Purchase 147,747.68
275-1125-53111 Contract Services - Priva… 17,916.75
280-20300 FIT Payable 1,151.94
Check Register Report Payment Dates: 1/4/2025 - 1/17/2025 1/21/2025 2:13:25 PM Page 16 of 16
Account Summary
Account Number Account Name Payment Amount
280-20310 SIT Payable 131.41
280-20340 PARS 1,575.81
280-20350 Group Insurance 0.39
280-20360 PERS 86.93
280-20380 Union Dues 6.79
280-20399 Other Payroll Deductions 84.35
280-3300-53015 Uniform/Boot Reimburs… 1,087.12
280-3300-53111 Contract Services - Priva… 9,662.50
280-3300-53406 Recuritment Expense 252.00
283-20300 FIT Payable 237.19
283-20310 SIT Payable 65.94
283-20350 Group Insurance 0.68
283-20360 PERS 181.32
283-20380 Union Dues 39.27
283-20399 Other Payroll Deductions 173.34
284-3100-53111 Contract Services - Priva… 6,274.33
285-20300 FIT Payable 227.57
285-20310 SIT Payable 53.11
285-20340 PARS 105.58
285-20350 Group Insurance 0.41
285-20360 PERS 178.94
285-20380 Union Dues 29.89
285-20399 Other Payroll Deductions 91.39
285-3330-53111 Contract Services - Priva… 2,896.50
285-3330-53711 Utility - Gas 147.78
285-3330-53712 Utility - Electricity 27,269.14
285-3330-53714 Utility - Water 782.09
285-3330-53715 Utility - Communications 31.24
285-3330-53813 Facility Maintenance 3,552.39
285-3330-53814 Landscape Maintenance 8,155.35
285-3330-53822 Park Maintenance & Re… 8,196.11
285-3330-53911 Equipment Lease/Rental 4,236.88
550-6100-53017 Software & Licensing 20,600.00
550-6100-53018 Computer Hardware & S… 11,267.49
555-3150-53014 Fuel 8,300.33
555-3150-53812 Vehicle Maintenance 2,444.16
555-3150-53912 Vehicle Lease 21,536.39
555-3150-54484 Vehicle Purchase 30,795.89
600-23292 Deposit - 15904 Old Vall… 850.00
600-47440 Strong Motion Inst. Fee 377.52
600-47441 SB1473 (Green Fee) 616.00
Grand Total: 1,647,260.24
Project Account Summary
Project Account Key Payment Amount
**None** 1,627,952.29
61025E 17,500.00
61324E 36.09
61425E 258.50
62024E 168.55
62124E 5.69
98725E 252.00
99025E 1,087.12
Grand Total: 1,647,260.24

AGENDA ITEM NO. D-2
To: Mayor and City Council For meeting of: January 28, 2025 Via: Bob Lindsey, City Manager
By: Troy O. Grunklee, CPA, Director of Administrative Services Alex Merkel Medina, Finance Manager
SUBJECT: PRESENTATION OF NOVEMBER AND DECEMBER 2024 REQUISITION

SUMMARY REPORT

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 for November and December 2024 periods.

DISCUSSION
City staff initiated twenty (20) requisitions during the period totaling $157,917.42.

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

ATTACHMENTS
Attachment “A”: Requisition Summary Report for November and December 2024 City of La Puente

AGENDA REPORT
1/14/2025 9:11:24 PM Page 1 of 4
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 250-2100-53978 Special Programs 100.00% 2,633.26
Total
BULLETPROOF VEST-ODC STANDARD 1 0 0 228.46 0 0 2,633.26 Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001071 BULLETPROOF VEST-ODC STANDARD Approved ELIZABETH HERRERA 11/13/2024 0 2,633.26 EMPTHE - THE EMPORIUM Director of Admin. Services
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 Total
Fitness Instructor Payment 1 0 0 0 0 0 1,050.00
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001070 Fitness Instructor Payment Approved ADRIANA DOMINGUEZ 11/13/2024 0 1,050.00 CHRPER - CHRISTOPHER PEREZ ARIAS Director of Comm. Services Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 61424E 100.00% 1,934.62
Total
Veterans Day Dinner 1 0 0 0 0 0 1,934.62
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001069 Veterans Day Dinner Approved ADRIANA DOMINGUEZ 11/8/2024 0 1,934.62 AVOITA - AVOLIO'S ITALIAN RESTAURANT Director of Comm. Services Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-3330-53012 Small Tools & Equipment 100.00% 4,830.00 Total
K1 PACE BATTERY SAW 1 0 0 439.06 0 0 4,830.00
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001068 K1 PACE BATTERY SAW Approved ELIZABETH HERRERA 11/8/2024 0 4,830.00 WHCAP - WHITE CAP, L.P. Director of Admin. Services
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 285-3330-53822 Park Maintenance & Repair 100.00% 3,131.36 Total
PARK TREES 1 0 0 81.37 0 0 3,131.36
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001066 PARK TREES Approved NORMA RAMIREZ 11/1/2024 0 3,131.36 MOOVA - MOON VALLEY NURSERY Director of Dev. Services
Requisition Summary Report
City of La Puente Requisition Detail
Issued Date Range 11/01/2024 - 12/31/2024
Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Total

ATTACHMENT A
1/14/2025 9:11:24 PM Page 2 of 4
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 Total
Fitness Instructor Payment 1 0 0 0 0 0 1,050.00
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001077 Fitness Instructor Payment Approved ADRIANA DOMINGUEZ 11/25/2024 0 1,050.00 CHRPER - CHRISTOPHER PEREZ ARIAS Director of Comm. Services Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 555-3150-54484 Vehicle Purchase 100.00% 6,380.00
Total
USED LIGHT TOWER 1 0 0 580 0 0 6,380.00
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001076 USED LIGHT TOWER Approved NORMA RAMIREZ 11/19/2024 0 6,380.00 PDQ - PDQ RENTALS City Manager
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-3330-53822 Park Maintenance & Repair 100.00% 35,741.23 Total
PLAYGROUND RESEALING 1 0 0 0 0 0 35,741.23
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001075 PLAYGROUND RESEALING Approved Alexander Merkel 11/18/2024 0 35,741.23 INNO - INNOVATIVE PLAYGROUDS COMPANY, INC. City Council Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 62124E 100.00% 30,250.00
Total
Tree Lightng Decorations and Main Street 1 0 0 0 0 0 30,250.00 Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001074 Tree Lightng Decorations and Main Street Approved ADRIANA DOMINGUEZ 11/18/2024 0 30,250.00 CELHOL - CLIPA, LLC City Council
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 285-3330-53822 Park Maintenance & Repair 100.00% 3,131.36 Total
REPLACEMENT TREES 1 0 0 0 0 0 3,131.36
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001072 REPLACEMENT TREES Approved NORMA RAMIREZ 11/13/2024 0 3,131.36 MOOVA - MOON VALLEY NURSERY Director of Dev. Services
Requisition Summary Report Issued Date Range 11/01/2024 - 12/31/2024 Description Requested by Trade
Requisition Number Vendor Status Ship To Issue Date Discount Total 1/14/2025 9:11:24 PM Page 3 of 4
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 555-3150-54484 Vehicle Purchase 100.00% 6,411.13
LIGHT TOWERS 2 0 0 461.13 0 0 6,411.13
Distributions
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 555-3150-54484 Vehicle Purchase 100.00% 4,584.76
Total
LIGHT TOWERS 1 0 0 329.76 0 0 4,584.76
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001082 LIGHT TOWERS Approved NORMA RAMIREZ 12/5/2024 0 10,995.89 EQUIP - EQUIPMENT SHARE City Manager
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 550-6100-53017 Software & Licensing 100.00% 5,019.00
Total
ADV LICENSE RENEWAL 1 0 0 0 0 0 5,019.00
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001081 ADV LICENSE RENEWAL Approved ELIZABETH HERRERA 12/4/2024 0 5,019.00 SUPALA - SUPERIOR ALARM SYSTEMS City Manager
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 263-3320-53111 Contract Services - Private 100.00% 7,500.00 Total
POSODA FOOD BOX 1 0 0 0 0 0 7,500.00
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001080 POSADA FOOD BOX Approved ELIZABETH HERRERA 12/4/2024 0 7,500.00 HUNMCL - MCLANE HUNGER SOLUTIONS City Manager
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4140-53979 Special Events 62024E 100.00% 1,406.00
Total
Holiday Event - Jumpers 1 0 0 0 0 0 1,406.00
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001079 Holiday Event - Jumpers Approved ADRIANA DOMINGUEZ 11/26/2024 0 1,406.00 WOW - WOW PARTY RENTAL, INC Director of Comm. Services
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-1150-53813 Facility Maintenance 100.00% 1,246.80
Total
HUDSON BLDG 1 0 0 0 0 0 1,246.80
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001078 HUDSON BLDG Approved NORMA RAMIREZ 11/25/2024 0 1,246.80 FRANKL - FRANKLIN AIR CONDITIONING & Director of Comm. Services Requisition Summary Report Issued Date Range 11/01/2024 - 12/31/2024 Description Requested by Trade
Requisition Number Vendor Status Ship To Issue Date Discount Total Requisition Count: 20 Total Discount: 0 Total: 157,917.42 1/14/2025 9:11:24 PM Page 4 of 4
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 285-3330-53822 Park Maintenance & Repair 100.00% 18,700.00 Total
WROUGHT IRON FENCE REPAIR 1 0 0 0 0 0 18,700.00
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001087 WROUGHT IRON FENCE REPAIR Approved NORMA RAMIREZ 12/18/2024 0 18,700.00 MARK - MARK'S WELDING SERVICE City Manager
Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 100-4100-53111 Contract Services - Private 100.00% 13,635.00 Total
Community Services - Registration Program 1 0 0 0 0 0 13,635.00 Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001086 Community Services - Registration ProgramApproved ADRIANA DOMINGUEZ 12/18/2024 0 13,635.00 PLUCIV - CIVICPLUS City Manager
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 Total
Fitness Instructor Payment 1 0 0 0 0 0 2,100.00
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001085 Fitness Instructor Payment Approved ADRIANA DOMINGUEZ 12/16/2024 0 2,100.00 CHRPER - CHRISTOPHER PEREZ ARIAS Director of Comm. Services 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 Total
Fitness Instructor Payment 1 0 0 0 0 0 1,050.00
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001084 Fitness Instructor Payment Approved ADRIANA DOMINGUEZ 12/10/2024 0 1,050.00 CHRPER - CHRISTOPHER PEREZ ARIAS Director of Comm. Services Distributions
Account Number Account Name Project Account Key Separate Sales Tax Percent Dist Amount 550-6100-53018 Computer Hardware & Supplies 100.00% 6,132.90 Total
PURCHASED LAPTOPS 1 5 1110.53 580.25 0 0 6,132.90
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001083 HP ENVY LAPTOPS (5) Approved REGINA NEWCOMB 12/10/2024 0 6,132.90 AMABUS - AMAZON CAPITAL SERVICES INC City Manager
Requisition Summary Report Issued Date Range 11/01/2024 - 12/31/2024 Description Requested by Trade
Requisition Number Vendor Status Ship To Issue Date Discount Total

AGENDA ITEM NO. D-3
To: Mayor and City Council For meeting of: January 28, 2025 From: Bob Lindsey, City Manager
By: Troy Grunklee, CPA, Director of Administrative Services Alex Merkel Medina, Finance Manager
SUBJECT: PRESENTATION OF NOVEMBER AND DECEMBER 2024 INVESTMENT REPORT

BACKGROUND
This report presents the City’s investment portfolio for the periods of November and December 2024.

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 June 11, 2024.

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 November and December have been provided as an attachment for your review. Investment activity for the period is summarized as follows:

DATE TRANSACTION ASSET TYPE RATE AMOUNT
11/08/2024 Sale/Redemption US Government Obligation-Federal Home Loan Bank Bond (FHLB)

5.05% $700,000
12/06/2024 Sale/Redemption US Government Obligation-Federal Home Loan Bank Bond (FHLB)

3.20% $700,000
12/06/2024 Sale/Redemption Certificate of Deposit (CDs) – Morgan Stanley Bank

4.90% $250,000
City of La Puente

AGENDA REPORT
Nov & Dec 2024 Investment Report
For Meeting of January 28, 2025

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 – November 2024
Attachment B – Certificates of Deposit – November 2024
Attachment C – Municipal Bonds – November 2024
Attachment D – Charts – November 2024
Attachment E – Investment Report – December 2024
Attachment F – Certificates of Deposit – December 2024
Attachment G – Municipal Bonds – December 2024
Attachment H – Charts – December 2024

CITY OF LA PUENTE ATTACHMENT A
Cash and Investment Report
November 30, 2024
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 4.477% $ 247,817 $ 247,817 $ 246,904 LAIF Government Obligations
U.S. Agency Security FFCB 06/10/20 06/10/25 0.680% 250,000 250,000 $245,163 Multi-Bank U.S. Agency Security FFCB 06/02/20 06/09/25 0.500% 250,000 250,000 $244,623 Stifel U.S. Agency Security FFCB 03/22/21 04/01/25 0.710% 250,000 250,000 $246,830 Stifel U.S. Agency Security FFCB 02/24/21 03/03/26 0.790% 250,000 250,000 $239,353 Stifel U.S. Agency Security FFCB 08/03/21 08/10/26 0.710% 250,000 250,000 $235,523 Stifel U.S. Agency Security FFCB 08/30/21 09/01/26 0.870% 500,000 499,800 $471,410 Stifel U.S. Agency Security FFCB 08/30/21 02/10/25 0.480% 250,000 249,750 $247,985 Stifel U.S. Agency Security FFCB 09/23/21 09/28/26 0.940% 250,000 249,500 $235,395 Stifel U.S. Agency Security FFCB 09/02/21 09/08/26 0.870% 250,000 250,000 $235,048 Stifel U.S. Agency Security FFCB 07/29/20 07/29/25 0.580% 250,000 250,000 $243,755 Stifel U.S. Agency Security FFCB 10/07/21 10/07/26 1.000% 250,000 249,625 $235,343 Stifel U.S. Agency Security FFCB 10/28/21 11/03/26 1.330% 250,000 250,000 $236,498 Stifel U.S. Agency Security FFCB 11/10/21 11/16/26 1.270% 250,000 250,000 $236,010 Stifel U.S. Agency Security FFCB 11/24/21 11/30/26 1.460% 500,000 500,000 $473,340 Stifel U.S. Agency Security FFCB 06/27/23 06/09/28 4.690% 250,000 250,060 $248,513 Stifel U.S. Agency Security FHLB 05/05/20 05/19/25 0.750% 250,000 250,000 $245,768 Stifel U.S. Agency Security FHLB 03/02/21 02/26/26 0.850% 250,000 250,000 $239,510 Stifel U.S. Agency Security FHLB 03/08/21 03/30/26 0.980% 250,000 250,000 $238,920 Stifel U.S. Agency Security FHLB 03/11/21 03/25/26 0.875% 250,000 251,000 $238,873 Stifel U.S. Agency Security FHLB 06/29/20 06/30/25 0.650% 375,000 375,000 $373,403 Stifel U.S. Agency Security FHLB 02/09/21 02/09/26 0.300% 250,000 250,000 $239,545 Stifel U.S. Agency Security FHLB 08/10/21 02/18/26 0.600% 250,000 248,250 $239,008 Stifel U.S. Agency Security FHLB 02/18/21 02/18/26 0.600% 250,000 250,000 $239,007 Multi-Bank U.S. Agency Security FHLB 02/26/21 02/26/26 0.580% 250,000 250,000 $238,643 Multi-Bank U.S. Agency Security FHLB 01/26/21 01/26/26 0.560% 250,000 250,000 $239,355 Multi-Bank U.S. Agency Security FHLB 02/24/21 02/24/26 0.625% 250,000 249,500 $238,743 Stifel U.S. Agency Security FHLB 02/25/21 02/25/26 0.660% 250,000 250,000 $238,908 Stifel U.S. Agency Security FHLB 02/12/21 02/12/26 0.520% 250,000 249,750 $238,828 Stifel U.S. Agency Security FHLB 05/18/21 05/26/26 1.030% 250,000 250,000 $238,350 Multi-Bank U.S. Agency Security FHLB 06/29/20 06/30/25 0.680% 250,000 250,000 $244,623 Stifel U.S. Agency Security FHLB 09/30/21 10/13/26 1.100% 250,000 249,823 $235,748 Stifel U.S. Agency Security FHLB 04/22/21 02/24/26 0.750% 250,000 249,375 $239,317 Stifel U.S. Agency Security FHLB 02/25/22 02/25/27 2.000% 250,000 250,000 $237,778 Stifel U.S. Agency Security FHLB 04/28/22 05/10/27 3.100% 250,000 249,750 $244,030 Stifel U.S. Agency Security FHLB 07/12/22 06/30/27 3.250% 250,000 250,089 $249,635 Stifel U.S. Agency Security FHLB 08/18/22 04/21/27 2.250% 250,000 248,406 $250,033 Stifel U.S. Agency Security FHLB 11/04/22 04/21/27 3.200% 760,000 715,928 $741,418 Stifel U.S. Agency Security FHLMC 06/19/20 06/30/25 0.720% 250,000 250,000 $244,325 Stifel U.S. Agency Security FHLMC 07/14/20 07/14/25 0.600% 250,000 250,000 $244,325 Stifel U.S. Agency Security FHLMC 07/23/20 07/23/25 0.500% 250,000 249,625 $243,867 Stifel U.S. Agency Security FHLMC 05/05/22 05/26/27 3.250% 250,000 250,000 $249,420 Stifel U.S. Agency Security FHLMC 09/15/22 08/01/27 3.740% 250,000 248,540 $244,765 Stifel U.S. Agency Security FNMA 06/04/20 06/04/25 0.710% 250,000 250,000 $245,380 Multi-Bank U.S. Agency Security FNMA 07/22/20 07/22/25 0.600% 250,000 250,000 $243,973 Stifel U.S. Agency Security FNMA 08/03/20 08/19/25 0.625% 250,000 250,000 $243,273 Stifel U.S. Agency Security FNMA 08/03/20 08/12/25 0.500% 250,000 250,000 $243,118 Stifel U.S. Agency Security FNMA 07/21/21 10/22/25 0.560% 250,000 249,529 $241,683 Stifel U.S. Agency Security FNMA 08/17/20 08/14/25 0.500% 250,000 249,875 $243,238 Stifel U.S. Agency Security FNMA 07/21/22 09/01/26 2.150% 250,000 238,655 $239,919 Stifel U.S. Agency Security FNMA 08/16/22 04/01/26 2.670% 250,000 224,798 $213,218 Stifel U.S. Agency Security FNMA 07/29/20 07/29/25 0.700% 250,000 250,000 $243,943 Multi-Bank U.S. Agency Security Treasury 05/12/21 12/31/25 0.375% 250,000 245,850 $239,600 Stifel U.S. Agency Security Treasury 06/15/21 11/30/25 0.375% 250,000 247,659 $240,338 Stifel U.S. Agency Security Treasury 06/24/21 02/28/26 0.500% 250,000 246,775 $238,575 Stifel U.S. Agency Security Treasury 07/21/21 09/30/25 0.250% 250,000 246,675 $241,630 Stifel U.S. Agency Security Treasury 07/29/21 08/31/25 0.250% 250,000 248,150 $242,383 Stifel U.S. Agency Security Treasury 08/10/21 10/31/25 0.250% 250,000 246,725 $240,823 Stifel U.S. Agency Security Treasury 09/29/21 06/30/26 0.875% 250,000 249,550 $237,208 Stifel U.S. Agency Security Treasury 04/29/21 04/30/26 0.750% 500,000 497,800 $476,035 Stifel Total Government Securities 16,135,000 16,025,812 15,545,256 Municipal Bonds*** various 250,000 247,965 219,182
Negotiable Certificates of Deposit *** various 10,662,000 10,661,009 10,381,235 Corporate Bonds*** various
Total Investments $ 27,294,817 $ 27,182,603 $ 26,392,577 Deposits in Bank 134,478
*
Miscellaneous Cash 2,200 **
Total Cash and Deposits 136,678
Total Investments, Cash and Deposits $ 27,319,282
* 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. 24-5874 dated June 11, 2024. 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, 2024 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% 248,000 248,000 243,841 Stifel Greenstate Credit Union 3/30/21 4/16/26 0.95% 249,000 249,000 237,922 Stifel UBS Bank 6/15/21 6/23/26 0.75% 248,000 248,000 234,858 Stifel Parsons FCU 6/24/21 6/30/26 0.50% 249,000 249,000 236,782 Stifel State Bank of India, NY 5/5/21 5/19/26 1.00% 248,000 248,000 236,540 Stifel Sallie Mae Bank 6/30/21 7/8/26 1.00% 247,000 247,000 234,606 Stifel Medallion Bank 9/14/21 9/30/26 0.90% 249,000 249,000 234,414 Stifel Goldman Sachs Bank 7/20/21 7/28/26 1.00% 248,000 248,000 234,888 Stifel Capital One Bank NA 11/8/21 11/17/26 1.10% 248,000 248,000 233,586 Stifel East Boston Savings Bank 8/14/20 8/14/25 0.50% 248,000 248,000 241,259 Stifel Citadel Federal Credit Union 2/26/20 2/27/25 1.65% 248,000 248,000 246,284 Stifel Pathfinder Bank 10/2/20 10/14/25 0.50% 249,000 249,000 240,766 Stifel Toyota Bank 7/21/21 7/29/26 0.95% 248,000 248,000 234,953 Stifel Synchrony Bank 8/24/21 8/27/26 0.90% 248,000 248,000 234,697 Stifel Pentagon FCU 8/17/21 9/1/26 0.85% 249,000 249,000 234,787 Stifel Texas Exchange Bank 9/28/21 11/14/25 0.85% 249,000 249,000 240,875 Stifel USF Federal Credit Union 10/14/21 10/28/26 0.90% 249,000 249,000 233,891 Stifel Live Oak Bank 10/4/21 10/19/26 0.90% 249,000 249,000 234,060 Stifel Bank Hapoalim 12/8/21 12/26/26 1.35% 248,000 248,000 234,266 Stifel Connexus Credit Union 12/20/21 12/23/26 1.15% 249,000 249,000 234,536 Stifel Nelnet Bank 1/24/22 2/2/27 1.45% 248,000 248,000 233,973 Stifel Amerant Bank 2/14/22 2/16/27 1.60% 248,000 248,000 234,571 Stifel Beal Bank 3/1/22 3/3/27 2.05% 248,000 248,000 236,736 Stifel Ally Bank 7/22/22 7/28/26 3.25% 246,000 246,000 242,020 Stifel Capital One Bank USA 7/14/22 7/20/27 3.40% 245,000 245,000 240,423 Stifel Discover Bank 7/14/22 7/20/27 3.35% 245,000 245,000 240,122 Stifel American Express National Bank 7/22/22 7/27/27 3.45% 245,000 245,000 240,673 Stifel St. Vincent Medical Center Credit Union 8/3/22 8/12/27 3.50% 249,000 249,000 244,996 Stifel Belmont Bank 8/5/22 8/24/27 3.15% 249,000 249,000 242,718 Stifel Resource One Credit Union 8/3/22 8/18/25 3.30% 249,000 249,000 247,083 Stifel Cobalt Credit Union 9/1/22 9/15/27 3.60% 249,000 249,000 245,584 Stifel Healthcare System FCU 9/7/22 9/21/26 3.60% 249,000 249,000 246,301 Stifel Coca Cola FCU 1/31/23 2/2/26 4.60% 249,000 249,000 249,884 Stifel Affinity Bank 3/13/23 3/17/28 4.90% 248,000 248,000 254,230 Stifel Morgan Stanley Bank NA 3/17/23 3/23/28 4.90% 244,000 244,000 250,068 Stifel Morgan Stanley Private Bank 3/17/23 3/23/28 4.90% 244,000 244,000 250,068 Stifel American First Credit Union 4/24/23 4/27/27 4.40% 249,000 249,000 250,374 Stifel Cy Fair FCU 5/4/23 5/19/27 4.35% 248,000 248,000 249,146 Stifel Alabama Credit Union 6/7/23 12/21/26 4.85% 248,000 248,000 251,207 Stifel Jeep Country FCU 6/21/23 6/29/27 4.70% 248,000 248,000 251,385 Stifel Baxter FCU 8/20/24 11/24/25 4.95% 249,000 248,009 249,528 Stifel Luana Savings Bank 2/28/20 2/28/25 1.55% 248,000 248,000 246,135 Multi-Bank Celtic Bank 4/17/20 4/17/25 1.50% 249,000 249,000 246,201 Multi-Bank Total for Negotiable Certificates of Deposit $ 10,662,000 $10,661,009$10,381,235

ATTACHMENT C
CITY OF LA PUENTE Cash and Investment Report November 30, 2024 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% 250,000 247,965 219,182 Multi-Bank Total for Municipal Bonds $ 250,000 $ 247,965 $ 219,182

CITY OF LA PUENTE ATTACHMENT D
Cash and Investment Report Charts November 30, 2024
Local Agency
Investment
Fund,
$247,817
Municipal Bonds,
$247,965
Federal Agency Securities,
$16,025,812
Negotiable Certificates of
Deposit, $10,661,009
Available Cash, $136,678
Investment Types
0%
10%
20%
30%
40%
50%
< 12 MOS. 13-24 MOS. 25-36 MOS. 37-48 MOS.
31%
44%
21%
4%
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DURATION OF MATURITY
Maturity Distribution

CITY OF LA PUENTE ATTACHMENT E
Cash and Investment Report
December 31, 2024
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 4.434% $ 2,201,817 $ 2,201,817 $ 2,193,705 LAIF Government Obligations
U.S. Agency Security FFCB 06/10/20 06/10/25 0.680% 250,000 250,000 $245,948 Multi-Bank U.S. Agency Security FFCB 06/02/20 06/09/25 0.500% 250,000 250,000 $245,648 Stifel U.S. Agency Security FFCB 03/22/21 04/01/25 0.710% 250,000 250,000 $247,773 Stifel U.S. Agency Security FFCB 02/24/21 03/03/26 0.790% 250,000 250,000 $239,828 Stifel U.S. Agency Security FFCB 08/03/21 08/10/26 0.710% 250,000 250,000 $235,880 Stifel U.S. Agency Security FFCB 08/30/21 09/01/26 0.870% 500,000 499,800 $472,265 Stifel U.S. Agency Security FFCB 08/30/21 02/10/25 0.480% 250,000 249,750 $248,923 Stifel U.S. Agency Security FFCB 09/23/21 09/28/26 0.940% 250,000 249,500 $235,553 Stifel U.S. Agency Security FFCB 09/02/21 09/08/26 0.870% 250,000 250,000 $235,988 Stifel U.S. Agency Security FFCB 07/29/20 07/29/25 0.580% 250,000 250,000 $244,685 Stifel U.S. Agency Security FFCB 10/07/21 10/07/26 1.000% 250,000 249,625 $235,835 Stifel U.S. Agency Security FFCB 10/28/21 11/03/26 1.330% 250,000 250,000 $236,585 Stifel U.S. Agency Security FFCB 11/10/21 11/16/26 1.270% 250,000 250,000 $236,103 Stifel U.S. Agency Security FFCB 11/24/21 11/30/26 1.460% 500,000 500,000 $473,355 Stifel U.S. Agency Security FFCB 06/27/23 06/09/28 4.690% 250,000 250,060 $248,770 Stifel U.S. Agency Security FHLB 05/05/20 05/19/25 0.750% 250,000 250,000 $246,573 Stifel U.S. Agency Security FHLB 03/02/21 02/26/26 0.850% 250,000 250,000 $240,390 Stifel U.S. Agency Security FHLB 03/08/21 03/30/26 0.980% 250,000 250,000 $239,988 Stifel U.S. Agency Security FHLB 03/11/21 03/25/26 0.875% 250,000 251,000 $239,555 Stifel U.S. Agency Security FHLB 06/29/20 06/30/25 0.650% 375,000 375,000 $374,723 Stifel U.S. Agency Security FHLB 02/09/21 02/09/26 0.300% 250,000 250,000 $240,485 Stifel U.S. Agency Security FHLB 08/10/21 02/18/26 0.600% 250,000 248,250 $239,890 Stifel U.S. Agency Security FHLB 02/18/21 02/18/26 0.600% 250,000 250,000 $239,890 Multi-Bank U.S. Agency Security FHLB 02/26/21 02/26/26 0.580% 250,000 250,000 $239,643 Multi-Bank U.S. Agency Security FHLB 01/26/21 01/26/26 0.560% 250,000 250,000 $240,165 Multi-Bank U.S. Agency Security FHLB 02/24/21 02/24/26 0.625% 250,000 249,500 $239,763 Stifel U.S. Agency Security FHLB 02/25/21 02/25/26 0.660% 250,000 250,000 $239,888 Stifel U.S. Agency Security FHLB 02/12/21 02/12/26 0.520% 250,000 249,750 $239,788 Stifel U.S. Agency Security FHLB 05/18/21 05/26/26 1.030% 250,000 250,000 $238,868 Multi-Bank U.S. Agency Security FHLB 06/29/20 06/30/25 0.680% 250,000 250,000 $245,668 Stifel U.S. Agency Security FHLB 09/30/21 10/13/26 1.100% 250,000 249,823 $236,293 Stifel U.S. Agency Security FHLB 04/22/21 02/24/26 0.750% 250,000 249,375 $240,163 Stifel U.S. Agency Security FHLB 02/25/22 02/25/27 2.000% 250,000 250,000 $238,075 Stifel U.S. Agency Security FHLB 04/28/22 05/10/27 3.100% 250,000 249,750 $243,230 Stifel U.S. Agency Security FHLB 07/12/22 06/30/27 3.250% 250,000 250,089 $249,653 Stifel U.S. Agency Security FHLB 08/18/22 04/21/27 2.250% 250,000 248,406 $249,253 Stifel U.S. Agency Security FHLMC 06/19/20 06/30/25 0.720% 250,000 250,000 $245,610 Stifel U.S. Agency Security FHLMC 07/14/20 07/14/25 0.600% 250,000 250,000 $245,238 Stifel U.S. Agency Security FHLMC 07/23/20 07/23/25 0.500% 250,000 249,625 $244,815 Stifel U.S. Agency Security FHLMC 05/05/22 05/26/27 3.250% 250,000 250,000 $249,630 Stifel U.S. Agency Security FHLMC 09/15/22 08/01/27 3.740% 250,000 248,540 $244,332 Stifel U.S. Agency Security FNMA 06/04/20 06/04/25 0.710% 250,000 250,000 $246,118 Multi-Bank U.S. Agency Security FNMA 07/22/20 07/22/25 0.600% 250,000 250,000 $244,890 Stifel U.S. Agency Security FNMA 08/03/20 08/19/25 0.625% 250,000 250,000 $244,198 Stifel U.S. Agency Security FNMA 08/03/20 08/12/25 0.500% 250,000 250,000 $244,193 Stifel U.S. Agency Security FNMA 07/21/21 10/22/25 0.560% 250,000 249,529 $242,633 Stifel U.S. Agency Security FNMA 08/17/20 08/14/25 0.500% 250,000 249,875 $244,158 Stifel U.S. Agency Security FNMA 07/21/22 09/01/26 2.150% 250,000 238,655 $240,396 Stifel U.S. Agency Security FNMA 08/16/22 04/01/26 2.670% 250,000 224,798 $212,369 Stifel U.S. Agency Security FNMA 07/29/20 07/29/25 0.700% 250,000 250,000 $244,853 Multi-Bank U.S. Agency Security Treasury 05/12/21 12/31/25 0.375% 250,000 245,850 $240,728 Stifel U.S. Agency Security Treasury 06/15/21 11/30/25 0.375% 250,000 247,659 $241,413 Stifel U.S. Agency Security Treasury 06/24/21 02/28/26 0.500% 250,000 246,775 $239,513 Stifel U.S. Agency Security Treasury 07/21/21 09/30/25 0.250% 250,000 246,675 $242,733 Stifel U.S. Agency Security Treasury 07/29/21 08/31/25 0.250% 250,000 248,150 $243,483 Stifel U.S. Agency Security Treasury 08/10/21 10/31/25 0.250% 250,000 246,725 $241,943 Stifel U.S. Agency Security Treasury 09/29/21 06/30/26 0.875% 250,000 249,550 $237,863 Stifel U.S. Agency Security Treasury 04/29/21 04/30/26 0.750% 500,000 497,800 $477,560 Stifel Total Government Securities 15,375,000 15,309,884 14,843,734 Municipal Bonds*** various 250,000 247,965 219,461
Negotiable Certificates of Deposit *** various 10,418,000 10,417,009 10,174,070 Corporate Bonds*** various
Total Investments $ 28,244,817 $ 28,176,675 $ 27,430,970 Deposits in Bank -
*
Miscellaneous Cash 2,200 **
Total Cash and Deposits 2,200
Total Investments, Cash and Deposits $ 28,178,875
* 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. 24-5874 dated June 11, 2024. The Investment Program provides sufficient liquidity to meet the next six months' estimated expenditures.

Troy O. Grunklee, CPA
Dir. Of Aministrative Services
AT

TACHMENTF
CITY OF LA PUENTE Cash and Investment Report December 31, 2024 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% 248,000 248,000 244,781 Stifel Greenstate Credit Union 3/30/21 4/16/26 0.95% 249,000 249,000 239,160 Stifel UBS Bank 6/15/21 6/23/26 0.75% 248,000 248,000 236,190 Stifel Parsons FCU 6/24/21 6/30/26 0.50% 249,000 249,000 238,101 Stifel State Bank of India, NY 5/5/21 5/19/26 1.00% 248,000 248,000 237,805 Stifel Sallie Mae Bank 6/30/21 7/8/26 1.00% 247,000 247,000 235,910 Stifel Medallion Bank 9/14/21 9/30/26 0.90% 249,000 249,000 235,808 Stifel Goldman Sachs Bank 7/20/21 7/28/26 1.00% 248,000 248,000 236,227 Stifel Capital One Bank NA 11/8/21 11/17/26 1.10% 248,000 248,000 234,975 Stifel East Boston Savings Bank 8/14/20 8/14/25 0.50% 248,000 248,000 242,447 Stifel Citadel Federal Credit Union 2/26/20 2/27/25 1.65% 248,000 248,000 246,953 Stifel Pathfinder Bank 10/2/20 10/14/25 0.50% 249,000 249,000 241,998 Stifel Toyota Bank 7/21/21 7/29/26 0.95% 248,000 248,000 236,287 Stifel Synchrony Bank 8/24/21 8/27/26 0.90% 248,000 248,000 236,044 Stifel Pentagon FCU 8/17/21 9/1/26 0.85% 249,000 249,000 236,162 Stifel Texas Exchange Bank 9/28/21 11/14/25 0.85% 249,000 249,000 242,023 Stifel USF Federal Credit Union 10/14/21 10/28/26 0.90% 249,000 249,000 235,300 Stifel Live Oak Bank 10/4/21 10/19/26 0.90% 249,000 249,000 235,462 Stifel Bank Hapoalim 12/8/21 12/26/26 1.35% 248,000 248,000 235,607 Stifel Connexus Credit Union 12/20/21 12/23/26 1.15% 249,000 249,000 235,930 Stifel Nelnet Bank 1/24/22 2/2/27 1.45% 248,000 248,000 235,332 Stifel Amerant Bank 2/14/22 2/16/27 1.60% 248,000 248,000 235,898 Stifel Beal Bank 3/1/22 3/3/27 2.05% 248,000 248,000 237,973 Stifel Ally Bank 7/22/22 7/28/26 3.25% 246,000 246,000 242,898 Stifel Capital One Bank USA 7/14/22 7/20/27 3.40% 245,000 245,000 241,332 Stifel Discover Bank 7/14/22 7/20/27 3.35% 245,000 245,000 241,038 Stifel American Express National Bank 7/22/22 7/27/27 3.45% 245,000 245,000 241,555 Stifel St. Vincent Medical Center Credit Union 8/3/22 8/12/27 3.50% 249,000 249,000 245,858 Stifel Belmont Bank 8/5/22 8/24/27 3.15% 249,000 249,000 243,637 Stifel Resource One Credit Union 8/3/22 8/18/25 3.30% 249,000 249,000 247,683 Stifel Cobalt Credit Union 9/1/22 9/15/27 3.60% 249,000 249,000 246,423 Stifel Healthcare System FCU 9/7/22 9/21/26 3.60% 249,000 249,000 247,145 Stifel Coca Cola FCU 1/31/23 2/2/26 4.60% 249,000 249,000 250,327 Stifel Affinity Bank 3/13/23 3/17/28 4.90% 248,000 248,000 254,686 Stifel Morgan Stanley Private Bank 3/17/23 3/23/28 4.90% 244,000 244,000 250,539 Stifel American First Credit Union 4/24/23 4/27/27 4.40% 249,000 249,000 251,129 Stifel Cy Fair FCU 5/4/23 5/19/27 4.35% 248,000 248,000 249,897 Stifel Alabama Credit Union 6/7/23 12/21/26 4.85% 248,000 248,000 251,889 Stifel Jeep Country FCU 6/21/23 6/29/27 4.70% 248,000 248,000 252,047 Stifel Baxter FCU 8/20/24 11/24/25 4.95% 249,000 248,009 249,808 Stifel Luana Savings Bank 2/28/20 2/28/25 1.55% 248,000 248,000 246,852 Multi-Bank Celtic Bank 4/17/20 4/17/25 1.50% 249,000 249,000 246,953 Multi-Bank Total for Negotiable Certificates of Deposit $ 10,418,000 $10,417,009$10,174,070

ATTACHMENT G
CITY OF LA PUENTE Cash and Investment Report December 31, 2024 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% 250,000 247,965 219,461 Multi-Bank Total for Municipal Bonds $ 250,000 $ 247,965 $ 219,461

CITY OF LA PUENTE ATTACHMENT H
Cash and Investment Report Charts December 31, 2024
Local Agency Investment
Fund, $2,201,817
Municipal Bonds, $247,965
Federal Agency Securities,
$15,309,884
Negotiable Certificates of
Deposit, $10,417,009
Available Cash, $2,200
Investment Types
0%
10%
20%
30%
40%
50%
< 12 MOS. 13-24 MOS. 25-36 MOS. 37-48 MOS.
29%
44%
25%
3%
PER
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DURATION OF MATURITY
Maturity Distribution
AGENDA ITEM NO. D-4
To: Mayor and City Council For meeting of: January 28, 2025 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, 2024

BACKGROUND
The audit of the City’s financial statements for the Fiscal Year Ended June 30, 2024 (FY 2023/2024) has been completed. The independent auditor, Van Lant & Fankhanel, LLP, rendered an unqualified opinion on the Annual Comprehensive Financial Report (ACFR). An “unqualified opinion” indicates that the City’s financial statements are prepared in accordance with applicable accounting standards and are reasonably assured to be 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 2023/2024 ACFR is attached for your review. The City ended the fiscal year with a fund balance in the General Fund of $29,791,519 – a decrease of $874,322 from the previous fiscal year.

This decrease is attributable primarily to increases in expenditures. This is driven by several factors such as increased public service offerings by the agency, increased staffing levels, the loss of one-time pandemic related funding sources from other governments, and greater investment in the equipment and infrastructure needed to manage community resources. General Fund revenues continue to remain steady, with Licenses and Permits, Charges for Services, and Fines & Forfeitures all increasing yearover-year due in large part to the implementation of the newly approved user fees and charges towards the end of the fiscal period.

City of La Puente

AGENDA REPORT
Agenda Report: Annual Comprehensive Financial Report
For meeting of: January 28, 2025

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

FY 20-21 FY 21-22 FY 22-23 FY 23-24
Actuals Actuals Actuals Actuals
Revenues $17,683,671 $16,760,519 $18,685,839 $21,031,184 Other Financing Sources - - 4,867,072 1,047,999
Total Revenues 17,683,671 16,760,519 23,552,911 22,079,183 Expenditures 14,980,652 16,680,602 17,612,496 21,673,055 Other Financing Uses 668,375 879,776 1,353,065 1,280,450 Total Expenditures 15,649,027 17,560,378 18,965,561 22,953,505 Increase (decrease) in Fund Balance $2,034,644 $(799,859) $4,587,350 $(874,322) The General Fund reserves as of June 30, 2024, were $29,791,519. The fund balance reserves are categorized as follows:

Non-Spendable $ 9,421,945
Unassigned 20,369,574
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 $35,662,962.

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, 2023. 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 2023/2024.

FISCAL IMPACT
The City ended the year with a decrease in combined fund balance for all governmental funds of $5,567,156. This reduction has several causes, including a large draw-down of fund balances in the Road Maintenance & Rehabilitation Act (SB1) fund, 2019A/B bond funds, and Metropolitan Transportation Authority (Metro) funds during the course of the Local Streets Pavement Resurfacing Project. Large capital projects tend to reduce fund balance because cash is outlaid to finance the Agenda Report: Annual Comprehensive Financial Report
For meeting of: January 28, 2025

project, but the final capital asset is not added to the fund balance sheet (in accordance with the modified accrual basis for governmental funds). Additionally, unavailable revenues such as grant reimbursements result in liabilities which decreases fund balance.

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, 2024.

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, 2024
Prepared by:

The Administrative Services Department
City of La Puente
Annual Comprehensive Financial Report
Year Ended June 30, 2024

TABLE OF CONTENTS
PAGE
I. INTRODUCTORY SECTION
Letter of Transmittal i - v
Directory of Officials vi
Organization Chart vii
Certificate of Achievement for Excellence in Financial Reporting viii 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 - 59
Required Supplementary Information:

Schedule of Changes in the City’s Net OPEB Liability and Related Ratios 60 - 61 Schedule of OPEB Plan Contributions 62
Schedule of Proportionate Share of the Net Pension liability 63 Schedule of Pension Plan Contributions 64
Major Governmental Funds:

Budgetary Comparison Schedules:

General Fund 65
Gas Tax 66
Miscellaneous Grants 67
Notes to Required Supplementary Information 68
Supplementary Information:

Other Governmental Funds: 69 - 70
Combining Balance Sheet 71 - 74
Combining Statement of Revenues, Expenditures and Changes in Fund Balances 75 - 78 Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual:

Measure M Fund 79
Prop. C Transportation Fund 80
City of La Puente
Annual Comprehensive Financial Report
Year Ended June 30, 2024
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 19, 2024
Honorable Mayor, City Council, and Citizens:

City of La Puente, California

INTRODUCTION
The City of La Puente’s Annual Comprehensive Financial Report for the fiscal year ended June 30, 2024, 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, 2024, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement City of La Puente
15900 E. Main Street, La Puente, CA 91744-4719 Telephone (626) 855-1500 www.lapuente.org i
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 over 39,000 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 3.50 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.

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 ii
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 a combination of three different school districts: Hacienda La Puente Unified School District, Bassett Unified School District, and Rowland 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
Inflation continues to be one of the largest macroeconomic issues faced by the City and other entities nationwide. The Consumer Price Index (“CPI”), a common measure for inflation, indicates an average 3.0% price increase for goods and services during the 12- month period between June 2023 and June 2024 according to the U.S. Bureau of Labor Statistics. This represents a significant challenge for the agency’s fiscal position, as lower quantities of goods and services are obtained for the same expenditure outlay. Local constituents, faced with increasing prices for critical needs such as food, housing, and childcare may require additional assistance from the City, placing additional strain on agency resources. Although inflation has not affected the City’s delivery of services to date, it will be closely monitored moving forward into the next fiscal cycle. iii
In the General Fund, revenues exceeded the budget by $1,690,984. Although this was due in part to a favorable market value adjustment in the investment holdings, it is noteworthy that the largest revenue source, taxes, concluded the period within a narrow margin of its budgeted expectation. Property Tax and Sales & Use Tax form the bulk of this category. This close conformity of actual tax revenues to the adopted budget can be interpreted as an indicator of the stability of the local economy as well as the quality of the City’s forecasting process. Licenses & Permits and Charges for Services, which are representative of development activity within the jurisdiction, exceeded their respective budgets by six figure sums, further pointing to the strength and diversity of the City’s revenue portfolio.

Interest rates increased during FY 2023/2024 to a high of 5.33% in June 2024 (source:

Federal Reserve), favoring lenders over borrowers. This had the potential to create an unfavorable environment if the City were to have a need to issue debt to finance a project or operations. Subsequent to the reporting date, interest rates have declined significantly, alleviating this concern. Reduction in the market rate of interest has an adverse impact on the City’s treasury, providing a lower rate of return on investments of idle funds. Staff will continue to actively manage these funds as time progresses.

MAJOR INITIATIVES AND ACCOMPLISHMENTS
The Capital Improvement Program (“CIP”) was an area of focus for the City of La Puente during the fiscal period. Several large-scale improvements to the local infrastructure were completed, including:
- Local Streets Pavement Resurfacing project, a $6,055,638 addition to capital assets that resulted from a multi-year effort to resurface over one million square feet of heavily deteriorated pavement in both residential and commercial areas - Crosswalk Enhancements ($1,451,509) and a High Visibility Crosswalk/Rapid Reflector Beacon ($223,919) were completed and capitalized, providing added safety features for pedestrians navigating the local area - Energy Efficiency Project, financed using Series 2022A bond funds, was completed in the amount of $3,695,608 and provides critical upgrades to City facilities and systems, allowing for greater energy independence and cost savings - The final phases of the La Puente Park Master Plan were concluded, with an additional $2,703,270 in depreciable assets consisting of pathways, lighting, and sports and recreation facilities.

Not only do these improvements allow for a safer and more aesthetically pleasing community, but they also represent a prudent investment in the future condition of our infrastructure – saving the City from emergency maintenance and repair costs. In addition to the aforementioned completed projects, a number of CIP projects received funding during the fiscal year but will remain under construction into future periods. These include the Animal Kennel and Dog Park, Veterans Memorial, Inyo Street Storm Drain, Park Activity Building, and High-Intensity Activated Crosswalk Beacon (HAWK). Collectively, these form the Construction-in-Progress balance on the capital assets footnote. Many of these projects are budgeted for completion in FY 2025/2026.

During FY 2024/2025, the City finished its Youth Workforce Development Program.

Funded by a $3.6 million grant award from the Office of the Governor as part of the iv
v

CITY OF LA PUENTE, CALIFORNIA

ELECTED OFFICIALS - CITY COUNCIL
Valerie Muñoz, Mayor
Charlie Klinakis, Mayor Pro Tem
David Argudo, Council Member
Nadia Mendoza, Council Member
Gabriel Quiñones, 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 vi
- - - - -
- - -
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
vii
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, 2023
Executive Director/CEO
viii

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, 2024, 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, 2024, 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 19, 2024, 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 19, 2024
3 City of La Puente
Management Discussion and Analysis
June 30, 2024

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, 2024. 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 $96,256,344 (net position). Of this, $27,928,472 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 $1,693,316 from the previous fiscal year.  Citywide revenues were $34,055,729. Total revenues are composed of $19,634,993 in general revenue dollars, $5,004,820 in charges for services, $1,274,169 in operating grants and contributions, and $8,141,747 in capital grants and contributions.  Citywide expenses were $32,525,736 with public safety being the largest functional area at $10,806,253 or approximately 33% of the total expenses.

Fund level
 The total fund balance for all governmental funds was $35,662,962 at the close of the fiscal year. Of that amount, $9,445,913 is nonspendable and $8,398,952 is restricted and not available for spending. The remaining $17,818,097 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 decreased by $874,322 for the fiscal year ended June 30, 2024.
 Governmental fund balances in total decreased by $5,567,156 during fiscal year 2023-2024.

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, 2024
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 forty percent 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-seven 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, the Gas Tax Fund, and the Miscellaneous Grants 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, 2024
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 59 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

2024 2023 Change % Change

Current and Other Assets $ 50,625,737 $ 54,930,727 $ (4,304,990) -7.84% Capital Assets 62,988,021 56,192,213 6,795,808 12.09%
Total Assets 113,613,758 111,122,940 2,490,818 2.24%

Deferred Outflows of Resources 4,427,972 6,333,142 (1,905,170) -30.08%

Other Liabilities 5,218,977 5,218,965 12 0.00%
Long-term Liabilities 23,868,492 23,018,790 849,702 3.69% Total Liabilities 29,087,469 28,237,755 849,714 3.01%

Deferred Inflows of Resources 2,206,550 3,410,592 (1,204,042) -35.30%

Net Position:

Net investment in capital assets 50,397,765 45,311,834 5,085,931 11.22% Restricted 8,421,474 10,533,015 (2,111,541) -20.05%
Unrestricted 27,928,472 29,962,886 (2,034,414) -6.79%
Total Net Position $ 86,747,711 $ 85,807,735 $ 939,976 1.10% 6 City of La Puente
Management Discussion and Analysis
June 30, 2024
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 $86,747,711 at the close of the fiscal year, an increase of $939,976 or 1.10% from the previous year. The primary reasons for the change in net position are as follows:
 Current and Other Assets decreased by $4,304,900 or -7.84%. This is strongly associated with the increased outlay of resources for capital projects and operations.  Capital Assets increased by $6,795,808 or 12.09% primarily due to completion of significant construction and improvements within the streets and parks areas.  Overall, assets increased by 2.24% year-over-year.
 Liabilities, both Other and Long-term, show very little change from FY 2022/2023.  Deferred Inflows of Resources decreased by $1,204,042 or -35.30% year-over-year, contributing to the increase in net position. This is primarily related to pensions and other post-employment benefits (OPEB) and leases.
 Likewise, Deferred Outflows of Resources decreased by $1,905,170 or -30.08%, also 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 $50,397,765 (58% 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, $8,421,474 or 10%, represents resources that are subject to external restrictions on how they may be used (shown as “restricted” in Table 1). The remaining balance of $27,928,472, or 32%, is unrestricted. This amount includes $9,309,758 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 $18,618,714 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, 2024
Table 2
The City’s net position increased by $939,976 for governmental activities during the fiscal year because of revenues being greater than expenses. It is noteworthy that the original figure would have been $776,653, but the addition of the La Puente Community Foundation as a blended component unit required a restatement to the beginning net position in the amount of $163,323. The total cost of all City governmental activities was $31,754,841 for the fiscal year. Net gain of all governmental activities was $939,976.

Total revenues decreased by $5,550,980 year-over-year primarily due to a significant decline in operating grants and contributions (program revenue). This is attributable to the one-time nature of the American Rescue Plan Act (ARPA) funding, a COVID-19 related revenue source that was recorded in the prior period.

8 City of La Puente
Management Discussion and Analysis
June 30, 2024
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 54% 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 40% of the total resources and investment income and miscellaneous income amounted to 6% of the total governmental revenues for the 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

10.8%
Operating Grants and
Contributions

3.9%
Capital Grants and
Contributions

25.0%
Property Taxes

27.5%
Franchise Taxes

3.8%
Sales and Use Taxes

21.2%
Property Transfer
Taxes

0.2%
Transient Occupancy
Taxes

0.8%
Other Taxes

0.5%
Investment Income

5.7% Other revenues

0.5%
9 City of La Puente
Management Discussion and Analysis
June 30, 2024
Governmental activities increased the City’s net position by $939,976. Key elements are as follows:
 Property Tax increased by $374,818 – around 4.36% - driven by an increase in assessed values throughout the period.
 Sales & Use Taxes remained nearly unchanged across periods.  Operating Grants and Contributions decreased by -84.75% or $6,981,905, due to the discontinuation of the American Rescue Plan Act (ARPA) fund, which recognized revenue in both FYs 2021/2022 and 2022/2023. This was a one-time, COVID-19 related allocation of federal funds, and was not used to finance regular operations.  Charges for Services shows a 40.75% increase year-over-year, due to strong activity levels in the Community Development and Recreation functions, and the implementation of new user fee rates towards the end of the fiscal period.
 Investment income increased by $1,903,609 due to the increase in fair value on investments. This figure contributes to the increase in net position, although the amount is unrealized within the City’s portfolio.

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

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, 2024
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 function which are presented in the government-wide financial statements.

Table 3
Business-type Activities Net Position
2024 2023
Current and Other Assets $ 3,262,221 $ 2,684,970
Capital Assets 12,451,734 12,696,052
Total Assets 15,713,955 15,381,022

Deferred Amounts on Refunding 410,061 439,351
Total Deferred Outflows of Resources 410,061 439,351

Other Liabilities 410,383 470,080
Long-term Liabilities Outstanding 6,205,000 6,595,000
Total Liabilities 6,615,383 7,065,080

Net Position:

Net investment in capital assets 6,266,795 6,165,403
Unrestricted 3,241,838 2,589,890
Total net position $ 9,508,633 $ 8,755,293
‐
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, 2024
Table 4
Business-type Activities Change in Net Position
2024 2023
Revenues
Charges for services $ 1,479,956 $ 1,349,215
Investment & Other Income 44,279 23,321
Total revenues 1,524,235 1,372,536

Expenses
Sewer assessment 543,793 772,070
Other expenses 227,102 237,967
Total expenses 770,895 1,010,037

Excess of revenues over expenses 753,340 362,499

Change in net position 753,340 362,499

Net position, beginning 8,755,293 8,392,794
Net position, ending $ 9,508,633 $ 8,755,293
The net position of the City’s business-type activities increased by $753,340. As shown in Table 3, “Current and Other Assets” reflects an increase of $557,251. 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 $753,340 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, 2024, the City’s Governmental Funds reported a combined fund balance of $35,662,962 which decreased by $5,403,833 from the prior year fund balance.
 Fund Balance Classification
 The City has $9,445,913 in non-spendable fund balance as of June 30, 2024. 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, 2024
maintained intact. Examples are inventories, prepaid expenses, long-term receivables, or land held for resale.
 Restricted fund balance amounted to $8,398,952 at June 30, 2024. Restricted fund balance includes resources that are subject to externally enforceable legal restrictions.
 The General Fund has unassigned fund balance of $20,369,574. 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 $29,791,519 fund balance, a decrease of $874,322 from the previous year.  General Fund revenues totaled $21,031,184. This exceeds the FY22/23 figure by $2,345,345.
 Licenses and Permits increased year-over-year by $170,158. Charges for Services increased by $125,784. Fines & Forfeitures increased by $137,138. These owe largely to strong development permitting activity within the city limits. Also noteworthy was the implementation of higher user fee rates towards the end of the fiscal period, raising this revenue figure.
 Investment Income shows a year-over-year increase of $1,823,319 (the bulk of the General Fund increase), due partly to increases in the fair value of investments.

 General Fund expenditures totaled $21,673,055, an increase of $4,060,559 due to several factors including increased service offerings, staffing levels, and loss of onetime pandemic related funding sources.  The City added a new fund during the period, the Permanent Local Housing Assistance (“PLHA”) fund, a state grant program providing downpayment assistance for first-time homebuyers within city boundaries. Ending fund balance for the PLHA fund was $(202,042) which consisted of one (1) loan completed during the fiscal year.

As this is a re-use/revolving loan program, that amount is due back to the City from both the homebuyer and the Calif. Dept. of Housing and Community Development.  The Miscellaneous Grants Fund had a negative ending fund balance of $(2,231,634).

This fund is comprised of several state grants. The largest of these is from the Office of the Governor, and 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, 2024 is $75,439,755. 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, 2024
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 $6,551,490 due to additions including 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, 2024.

Table 5
Capital Assets
14 City of La Puente
Management Discussion and Analysis
June 30, 2024
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 2023-2024 was $19,340,200. Actual General Fund revenues were higher than the final budgeted revenues by $1,690,984 for a total of $21,031,184. Several factors played into this variance with budgeted projections. Taxes displayed a result of $12,599 under budget – a generally immaterial amount. Licenses and Permits. Charges for Services, and Fines and Forfeitures all recorded revenues in excess of $100,000 over budget. Noteworthy also is the large positive revenue variance in Investment Income – over $1.2 million. Although the City did exceed its budget for interest revenue in general, much of this excess variance is due to the GASB market value adjustment recognizing the unrealized change in the assets value.

Expenditure appropriations were adopted in the amount of $22,910,900, of which $1,549,500 was slated for capital expenditures and the remainder for the operating budget. Factoring out the transfers, General Fund expenditures were $1,237,845 less than budgeted appropriations. Fund balance decreased by $874,322 over the course of the fiscal year, for an ending fund balance at June 30th of $29,791,519.
15 City of La Puente
Management Discussion and Analysis
June 30, 2024

NEXT YEAR'S BUDGET AND ECONOMIC FACTORS
As we look ahead to the next fiscal year, the City remains focused on key priorities such as public safety, health and wellness initiatives, and infrastructure enhancements. The City of La Puente is dedicated to fostering a community where residents and visitors can move around, play, enjoy recreational activities, and conduct business in a contemporary and forward-thinking setting.

The safety and ease of transportation within city limits has long been an area of focus for the City Council. The FY 2024/2025 Budget and Capital Improvement Program (CIP) provides an appropriation of $500,000 for design and engineering on the next phase of the Local Streets Pavement Resurfacing project, as well as $250,000 for slurry seal work. The completion of the High Intensity Activated Crosswalk Signal on Hacienda Blvd. is also scheduled for 2025.

The CIP also includes a budget of $640,000 for a new animal shelter and kennel facility located at the intersection of Valley Blvd. and Old Valley Blvd. Establishing this city-run facility will eliminate reliance on contracts with external service providers for animal related services, allowing both cost savings and continuity of operations in the long term. Adjacent to the shelter and kennel is a planned dog park and recreation area. This project, financed by a $750,000 appropriation from the Measure A fund, will not only provide a space for pet owners to recreate, but will also add much needed parkland space to the eastern portion of La Puente. In the operating budget, continued funding for public safety, robust homelessness services, and park maintenance and repair are provided for.

In the larger picture of the economy, both locally and nationally, falling interest rates present a degree of uncertainty as they may lead to unpredictability in inflation levels, borrowing costs, and treasury performance. Management will closely monitor these matters and any potential impact to the City of La Puente’s fiscal condition as the year progresses. General Fund revenues are likely to remain strong, as FY 2024/2025 will be the first period in which the City sees the full results of the newly implemented user fee rates within the Licenses & Permits, Charges for Services, and Fines & Forfeitures categories. The City’s strong fund balances should also help to provide consistency in the level of public services provided, despite any economic fluctuations that may exist on the horizon.

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, 2024
Governmental Business-type
Activities Activities Total
ASSETS
Cash and Investments $ 27,847,819 $ 3,243,312 $ 31,091,131 Cash and Investments with Fiscal Agent 38,310 - 38,310
Accounts Receivable 284,482 - 284,482
Interest Receivable 6,465,888 6,465,888 -
Loans Receivable 1,308,943 1,308,943 -
Lease Receivable 148,312 - 148,312
Due From Other Governments 4,486,675 18,909 4,505,584
Prepaid Items 154,355 - 154,355
Advance to Successor Agency, Net 9,309,758 9,309,758 -
Restricted Cash 581,195 - 581,195
Capital Assets, Not Depreciated 4,704,974 4,704,974 -
Capital Assets, Depreciated, Net 58,283,047 12,451,734 70,734,781 Total Assets 113,613,758 15,713,955 129,327,713

DEFERRED OUTFLOWS OF RESOURCES
Deferred Amounts on Refunding - 410,061 410,061
Deferred Outflows Related to Pensions 3,526,335 3,526,335 - Deferred Outflows Related to OPEB 901,637 - 901,637
Total Deferred Outflows of Resources 4,427,972 410,061 4,838,033

LIABILITIES
Accounts Payable and Accrued Liabilities 3,861,865 4,280 3,866,145 Interest Payable 95,732 16,103 111,835
Unearned Revenues 93,991 - 93,991
Due to Other Agencies 586,194 - 586,194
Deposits 581,195 - 581,195
Long-Term Liabilities
Due Within One Year 1,299,574 390,000 1,689,574
Due in More Than One Year 22,568,918 6,205,000 28,773,918 Total Liabilities 29,087,469 6,615,383 35,702,852

DEFERRED INFLOWS OF RESOURCES
Deferred Inflows Related to Pensions 1,590,391 1,590,391 - Deferred Inflows Related to OPEB 467,847 - 467,847
Lease Related 148,312 - 148,312
Total Deferred Inflows of Resources 2,206,550 2,206,550 -

NET POSITION
Net Investment in Capital Assets 50,397,765 6,266,795 56,664,560 Restricted for:

Street Projects 3,518,374 3,518,374 -
Public Works 1,598,837 1,598,837 -
Housing 2,031,551 2,031,551 -
Community Development 1,272,712 1,272,712 -
Sewer Operations 3,241,838 - 3,241,838
Unrestricted 27,928,472 27,928,472 -
Total Net Position $ 86,747,711 $ 9,508,633 $ 96,256,344 The accompanying notes are an integral part of this statement. 17 City of La Puente
Statement of Activities
Year Ended June 30, 2024
Charges Operating Capital
for Grants and Grants and
Expenses Services Contributions Contributions
Governmental Activities:

General Government 3,929,066 $ 220,057 $ - $ - $
Public Safety 10,806,253 811,013 237,784 -
Public Works 3,690,283 24,132 - 5,042,327
Recreation/Senior Services 3,966,820 239,760 374,480 -
Community Development 8,855,236 2,229,902 661,905 3,099,420 Interest Expense 507,183 - - -
Total Governmental Activities 31,754,841 3,524,864 1,274,169 8,141,747 Business-type Activities:

Sewer Assessment 770,895 1,479,956 - -
Total Business-type Activities 770,895 1,479,956 - -
Total Primary Government 32,525,736 $ 5,004,820 $ 1,274,169 $ 8,141,747 $ 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,as previously reported
Change within the reporting entity -
addition of blended component unit
Net Position - Beginning, as adjusted
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
$ - (3,709,009) $ (3,709,009) $
- (9,757,456) (9,757,456)
- 1,376,176 1,376,176
- (3,352,580) (3,352,580)
- (2,864,009) (2,864,009)
- (507,183) (507,183)
- (18,814,061) (18,814,061)
709,061 - 709,061
709,061 - 709,061
709,061 (18,814,061) (18,105,000)
- 8,962,301 8,962,301
- 1,234,104 1,234,104
- 6,885,081 6,885,081
- 70,184 70,184
- 275,228 275,228
- 160,579 160,579
44,279 1,854,273 1,898,552
- 148,964 148,964
44,279 19,590,714 19,634,993
753,340 776,653 1,529,993
8,755,293 85,807,735 94,563,028
- 163,323 163,323
8,755,293 85,971,058 94,726,351
$ 9,508,633 86,747,711 $ 96,256,344 $
Net (Expense) Revenue and Changes in Net Position
19 City of La Puente
Balance Sheet
Governmental Funds
June 30, 2024
Other
General Gas Miscellaneous Governmental
Fund Tax Grants Funds Total
ASSETS
Cash and Investments 19,193,502 $ 255,393 $ - $ 7,711,926 $ 27,160,821 $ Cash with Fiscal Agent - - - 38,310 38,310
Accounts Receivable 277,105 - - 7,377 284,482
Interest Receivable 6,465,888 - - - 6,465,888
Loans Receivable - - - 1,308,943 1,308,943
Lease Receivable 148,312 - - - 148,312
Due from Other Governments 1,337,941 259,855 2,264,793 547,826 4,410,415 Due from Other Funds 2,439,955 - - - 2,439,955
Restricted Cash 581,195 - - - 581,195
Prepaid Items 112,187 3,072 - 20,896 136,155
Advances to Successor Agency 9,309,758 - - - 9,309,758
Total Assets 39,865,843 $ 518,320 $ 2,264,793 $ 9,635,278 $ 52,284,234 $

LIABILITIES
Accounts Payable and Accrued Liabilities 2,916,684 $ 288,555 $ 88,990 $ 560,064 $ 3,854,293 $ Due to Other Agencies - - - 586,194 586,194
Unearned Revenue 93,991 - - - 93,991
Deposits 581,195 - - - 581,195
Due to Other Funds - - 2,142,644 297,311 2,439,955
Total Liabilities 3,591,870 288,555 2,231,634 1,443,569 7,555,628

DEFERRED INFLOWS OF RESOURCES
Unavailable Revenues - Interest 6,334,142 - - 6,334,142 - Unavailable Revenues - Grants - 2,264,793 - 318,397 2,583,190 Lease Related 148,312 - - 148,312 -
Total Deferred Inflows of Resources 6,482,454 2,264,793 318,397 9,065,644 -

FUND BALANCES
Nonspendable 9,421,945 3,072 - 20,896 9,445,913
Restricted 226,693 - 8,172,259 8,398,952 -
Unassigned 20,369,574 (2,231,634) - (319,843) 17,818,097 Total Fund Balances 29,791,519 229,765 (2,231,634) 7,873,312 35,662,962 Total Liabilities, Deferred Inflows of
Resources, and Fund Balances $ 39,865,843 $ 518,320 $ 2,264,793 $ 9,635,278 $ 52,284,234 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, 2024
Fund Balances for Governmental Funds $ 35,662,962
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 102,223,130
Accumulated Depreciation (41,062,686)
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, 2024 are:

City of Industry Loan Agreement (1,178,379)
2019A Sales Tax Revenue Bonds (3,125,000)
2019B Sales Tax Revenue Bonds (2,775,000)
Premium on Bonds (339,768)
2020A Certificates of Participation (7,417,083)
2022A Certificates of Participation (3,573,856)
Software Subscription Liability (805,686)
Compensated Absences (396,969)
Net Pension (Liability)/Asset related to the City's Pension plan is not reported in the governmental funds (3,250,096)
Net OPEB (Liability)/Asset related to the City's other postemployment benefits is not reported in the governmental funds (206,891)
Interest expenditures are recognized when due, and therefore, interest payable is not recorded in the governmental funds. (95,732)
Long-term receivables are not available to pay for current period expenditures and, therefore, are report as unavailable revenue in the funds. 8,917,332 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 3,526,335
Deferred Inflows Related to Pensions (1,590,391)
Deferred Outflows Related to OPEB 901,637
Deferred Inflows Related to OPEB (467,847)
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. 1,801,699 Net Position of Governmental Activities $ 86,747,711
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, 2024
Other
General Gas Miscellaneous Governmental
Fund Tax Grants Funds Total

REVENUES
Taxes 16,521,201 $ - $ - $ $ 17, 970,537 $ 491,738
Licenses and Permits 1,138,897 - - - 1,138,897
Intergovernmental 143,658 2, 1, 011,690 4, 780,205 8, 919,695 855,248 Charges for Services 1,023,723 - - 1, 632,952 656,675
Fines and Forfeitures 668,072 - - - 668,072
Investment Income 1, 453,441 15,091 - 126,753 1,595,285 Other Revenue 82,192 4,622 - 58,746 145,560
Total Revenues 21,031,184 2,031,403 1,780,205 6,708,683 31,551,475

EXPENDITURES
Current:

General Government 3,183,925 - - 19,010 3,202,935
Public Safety 10,401,528 - - 198,190 10,599,718
Public Works 531,588 1,161,298 - 512,495 2,205,381
Recreation/Senior Services 2,163,812 - - 2, - 163,812
Community Development 3,574,232 1, - 927,432 3,081,868 8,583,532 Capital Outlay 1,578,495 3,214,487 166,023 4,628,337 9,587,342 Debt Service:

Interest and Fiscal Charges 12,485 - - 521,999 534,484
Principal 226,990 - - 859,086 1,086,076
Total Expenditures 21,673,055 4,375,785 2,093,455 9,820,985 37,963,280 Excess of Revenues Over (Under)
Expenditures (641,871) (2,344,382) (313,250) (3,112,302) (6,411,805)

OTHER FINANCING SOURCES (USES)
Transfers In 15,323 183,941 1, - 458,607 1,657,871
Transfers Out (1,280,450) (11, - 938) (553,510) (1,845,898) Issuance of Debt 1,032,676 - - 1, - 032,676
Total Other Financing Sources (Uses) (232,451) 183,941 (11,938) 905,097 844,649 Net Change in Fund Balances (874,322) (2,160,441) (325,188) (2,207,205) (5,567,156) Fund Balances, Beginning, as previously reported 30,665,841 2,390,206 (1,906,446) 9,917,194 41,066,795 Change within the reporting entity -
addition of blended component unit - - - 163,323 163,323 Fund Balances, Beginning, as adjusted 30,665,841 2,390,206 (1,906,446) 10,080,517 41,230,118 Fund Balances, End of Year $ 29,791,519 $ 229,765 $ (2,231,634) $ 7,873,312 $ 35,662,962 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, 2024
Net Change in Fund Balances - Total Governmental Funds $ (5,567,156) 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 9,285,500
Depreciation Expense (2,733,552)
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:

Debt Issuance (1,032,676)
Principal Payments 1,086,076
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 (49,187)
Net Pension Liability (541,174)
Net OPEB Liability (48,241)
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 (1,951,135)
Deferred Inflows Related to Pensions 1,179,990
Deferred Outflows Related to OPEB 45,965
Deferred Inflows Related to OPEB (1,361)
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. 980,019
Accrued interest on bonds is not recorded in the governmental funds. This is the net change in accrued interest for the period. 4,650
The change in net position of the internal service fund is reported with governmental activities. 96,284
Change in Net Position of Governmental Activities $ 776,653 The accompanying notes are an integral part of this statement. 23 City of La Puente
Statement of Net Position
Proprietary Funds
June 30, 2024
Business-type Governmental
Activities- Activities -
Enterprise Fund Internal Service
Sewer Assessment Fund
ASSETS
Current Assets:

Cash and Investments 3,243,312 $ 686,998 $
Due from Other Governments 18,909 76,260
Prepaid Expenses - 18,200
Total Current Assets 3,262,221 781,458
Noncurrent Assets:

Capital Assets, Being Depreciated:

Sewer Collection Systems 14,659,082 -
Vehicles - 1,372,508
Furniture and Equipment - 589,750
Intangible Right-to-Use Assets - 1,001,619
Less: Accumulated Depreciation (2,207,348) (1,136,300)
Total Noncurrent Assets 12,451,734 1,827,577
Total Assets 15,713,955 2,609,035

DEFERRED OUTFLOWS OF RESOURCES
Deferred Amounts on Refunding 410,061 -

LIABILITIES
Current Liabilities:

Accounts Payable and Accrued Liabilities 4,280 7,572
Interest Payable 16,103 -
Leases Payable - Current - 103,634
Bonds Payable - Current 390,000 -
Total Current Liabilities 410,383 111,206
Noncurrent Liabilities:

Leases Payable - 696,130
Bonds Payable 6,205,000 -
Total Noncurrent Liabilities 6,205,000 696,130
Total Liabilities 6,615,383 807,336

NET POSITION
Net Investment In Capital Assets 6,266,795 1,027,813
Unrestricted 3,241,838 773,886
Total Net Position 9,508,633 $ 1,801,699 $
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, 2024
Business-type Governmental
Activities- Activities -
Enterprise Fund Internal Service
Sewer Assessment Fund

OPERATING REVENUES
Charges for Services 1,479,956 $ 663,897 $
Total Operating Revenues 1,479,956 663,897

OPERATING EXPENSES
Other General Expenses 299,475 438,190
Depreciation 244,318 353,510
Total Operating Expenses 543,793 791,700
Operating Income (Loss) 936,163 (127,803)

NONOPERATING REVENUES
(EXPENSES)
Intergovernmental Grants - 76,260
Loss on Disposal - (27,810)
Interest Income 44,279 8,693
Interest Expense (227,102) (21,083)
Total Nonoperating Revenues
(Expenses) (182,823) 36,060
Income Before Transfers 753,340 (91,743)
Transfers In 188,027 -
Change in Net Position 753,340 96,284
Net Position, Beginning of Year 8,755,293 1,705,415
Net Position, End of Year 9,508,633 $ 1,801,699 $
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, 2024
Business-type Governmental
Activities- Activities -
Enterprise Fund Internal Service
Sewer Assessment Funds

CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from Customers and Users 1,485,808 $ $ 663,897 Payments to Suppliers and Contractors (373,257) (469,486) Net Cash Provided (Used) by Operating Activities 194,411 1,112,551

CASH FLOWS FROM NONCAPITAL AND RELATED

FINANCING ACTIVITIES
Cash Received From Other Funds - 188,027
Net Cash Provided (Used) by Noncapital and Related
Financing Activities - 188,027

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Payments for Purchase of Property and Equipment - (317,205) Proceeds from Sale of Capital Assets - 169,134
Principal Paid on Long-term Debt (375,000) (189,958)
Interest Paid (198,727) (21,083)
Net Cash Provided (Used) by Capital and Related
Financing Activities (573,727) (359,112)

ACTIVITIES
Interest Received 44,279 8,693
Net Increase (Decrease) in Cash and Cash Equivalents 32,019 583,103 Cash and Cash Equivalents - Beginning of Year 654,979 2,660,209 Cash and Cash Equivalents - End of Year $ 686,998 3,243,312 $ Reconciliation of Operating Income (Loss) to Net Cash
Provided (Used) by Operating Activities:

Operating Income (Loss) 936,163 $ $ (127,803)
Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities:

Depreciation 244,318 353,510
Changes in Assets and Liabilities:
(Increase) Decrease in Due from Other Governments - 5,852 (Increase) Decrease in Prepaid Expenses (1,126) -
Increase (Decrease) in Accounts Payable (30,170) (73,782) TOTAL CASH PROVIDED BY OPERATING ACTIVITIES $ 1,112,551 $ 194,411 Schedule of Non-cash Capital and Related Financing Activities Amortization of Deferred Amounts on Refunding 29,290 $ - $ Acquisition of Lease Assets - 477,109
The accompanying notes are an integral part of this statement. 26 City of La Puente
Statement of Net Position
Fiduciary Funds
June 30, 2024
Succesor Agency
Private-Purpose
Trust Fund
ASSETS
Cash and Investments 645,512 $
Cash with Fiscal Agent 138,953
Total Assets 784,465

LIABILITIES
Interest Payable 49,119
Advances from the City 15,643,900
Bonds Payable 2,710,000
Total Liabilities 18,403,019

NET POSITION
Held in Trust for Successor Agency (17,618,554) $
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, 2024
Succesor Agency
Private-Purpose
Trust Fund

ADDITIONS
Taxes $ 700,129
Interest Income 7,605
Total Additions 707,734

DEDUCTIONS
Administration and Pass-throughs 17,975
Interest on Advance from City 372,390
Interest on Bonds 118,375
Total Deductions 508,740
Change in Net Position 198,994
Net Position - Beginning of Year (17,817,548)
Net Position - End of Year (17,618,554) $
The accompanying notes are an integral part of this statement. 28 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
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.

The La Puente Community Foundation was formed on June 25, 2019 as a Nonprofit Public Benefit Corporation to support the City of La Puente by providing funding, through grants, donations, corporate support, for charitable, cultural, recreational or educational purposes to benefit the community within the present and future boundaries of the City of La Puente. The City Council appoints the Board and is able to impose its will on this component unit. There are no separate financial statements prepared for the Foundation.

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.
29 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued 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.

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 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.
30 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued The proprietary and private-purpose trust funds are reported using the economic resources measurement focus and the accrual basis of accounting.

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 Gas Tax Fund is used account for gasoline taxes received by the City that are restricted for street maintenance, right-of-way acquisition and street construction.

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, 2024
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, 2024
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, 2024
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, 2024
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, 2024
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, 2024, the City’s receivable for lease payments was $148,312. 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, 2024, the balance of the deferred inflow of resources was $148,312.

P) 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.

Q) 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, 2024
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, 2023
Measurement Date June 30, 2023
Measurement Period July 1, 2022 to June 30, 2023
2) CASH AND INVESTMENTS
Cash and investments at June 30, 2024 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 31,091,131 $
Cash and Investments with Fiscal Agent 38,310
Restricted Cash and Investments 581,195
Statement of Fiduciary Net Position:

Cash and Investments 645,512
Cash and Investments with Fiscal Agent 138,953
Total Cash and Investments 32,495,101 $
Petty Cash 2,200 $
Deposits with Financial Institutions 1,135,070
Investments 31,357,831
Total Cash and Investments $ 32,495,101
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, 2024
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 498,260 $ 2,104,288 $ - $ 2,602,548 $ Federal Farm Credit Bank 962,210 472,270 2,549,760 3,984,240 Federal Home Loan Bank 845,233 3,276,505 3,562,666 7,684,404 Federal Home Loan Mortgage Corp 238,615 477,160 487,433 1,203,208 Federal National Mortgage Assoc. 239,383 1,636,123 235,144 2,110,650 Local Agency Obligations 216,847 - 216,847 -
Negotiable Certificates of Deposit 1,212,041 2,118,313 6,820,769 10,151,123 LAIF 3,227,548 - 3,227,548 -
Held by Fiscal Agent:

Money Market Mutual Funds 177,263 - 177,263 -
Total $ 7,617,400 $ 10,084,659 $ 13,655,772 $ 31,357,831 Rating as of Year End
Total Minimum
Investment Type Investment Legal Rating AAA/AA A and A-1 Unrated US Treasury Obligations 2,602,548 $ 2,602,548 $ - $ - $ Federal Farm Credit Bank 3,984,240 N/A 3,984,240 - -
Federal Home Loan Bank 7,684,404 N/A 7,684,404 - -
Federal Home Loan Mortgage Corp 1,203,208 N/A 1,203,208 - - Federal National Mortgage Assoc. 2,110,650 N/A 2,110,650 - - Local Agency Obligations 216,847 A 216,847 - -
Negotiable Certificates of Deposit 10,151,123 N/A - - 10,151,123 LAIF 3,227,548 N/A - - 3,227,548
Held by Bond Trustee:

Money Market Mutual Fund 177,263 N/A 177,263 - -
Total 31,357,831 $ 17,979,160 $ - $ 13,378,671 $
38 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
2) CASH AND INVESTMENTS - Continued
Concentration of Credit Risk
At June 30, 2024, 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, 2024, 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, 2024, 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, 2024:
 US Treasury Obligations of $2,602,548 are valued using a matrix pricing model (Level 2 inputs).  Federal Agency securities of $14,982,502 are valued using a matrix pricing model (Level 2 inputs).  Local Agency Obligations of $216,847 are valued using a matrix pricing model (Level 2 inputs).  Negotiable Certificates of Deposit of $10,151,123 are valued using a matrix pricing model (Level 2 inputs). 39 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
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, 2024, the General Fund is reporting $2,439,955 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, 2024, the City’s General Fund had advanced to the former Community Development Commission (CDC) $15,643,900 (net of repayments), including interest receivable of $6,334,142, 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 $9,309,758 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 2023-24 fiscal year, the following interfund transfers were made:

Other Internal
General Gas Governmental Service
Transfers Out Fund Tax Funds Fund Total
General Fund - $ 183,941 $ 908,482 $ 188,027 $ 1,280,450 $ Miscellaneous Grants 11,938 - - - 11,938
Other Governmental Funds 3,385 - 550,125 - 553,510
Total 15,323 $ 183,941 $ 1,458,607 $ 188,027 $ 1,845,898 $ Transfers In
40 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
3) INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS - Continued The General Fund transferred $908,482 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 $550,125 to the Measure M and Measure R Debt Service Funds to pay loan and bond payments. The General Fund transferred $188,027 to the Internal Service Funds for project costs and $183,941 to the Gas Tax fund for project costs.
4) LOANS RECEIVABLE
The City uses Housing and Community Development Block Grant, Cal-Home, and Permanent Local Housing Allocation (PLHA) 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, Cal-Home, and PLHA Grant Funds. Rehabilitation loans receivable of $1,308,943 at June 30, 2024 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 2023-24 fiscal year:

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

Land $ 4,147,922 $ - $ 4,147,922 - $
Construction in Progress 6,363,090 8,323,906 (14,129,944) 557,052 Total Capital Assets, Not Depreciated 10,511,012 8,323,906 (14,129,944) 4,704,974 Capital Assets Being Depreciated:

Buildings and Improvements 31,704,483 6,304,943 38,009,426 - Equipment and Furniture 4,249,611 340,059 (370,873) 4,218,797 Infrastructure 48,488,450 7,731,065 56,219,515 -
Intangible Right-to-use Assets 587,977 477,109 (63,467) 1,001,619 Software Subscription Assets 1,032,676 - 1,032,676 -
Total Capital Assets, Depreciated 85,030,521 15,885,852 (434,340) 100,482,033 Less Accumulated Depreciation:

Buildings and Improvements (15,157,132) (1,481,082) (16,638,214) - Equipment and Furniture (1,705,996) (353,501) 204,847 (1,854,650) Infrastructure (22,400,596) (869,467) (23,270,063) -
Intangible Right-to-use Assets (85,596) (176,477) 32,549 (229,524) Software Subscription Assets (206,535) - (206,535) -
Total Accumulated Depreciation (39,349,320) (3,087,062) 237,396 (42,198,986) Net Capital Assets, Depreciated 45,681,201 12,798,790 (196,944) 58,283,047 Governmental Activities Capital Assets 56,192,213 $ $ 21,122,696 $ (14,326,888) $ 62,988,021 41 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
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, 2024:

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 (1,963,030) (244,318) (2,207,348) - Net Capital Assets, Depreciated 12,696,052 (244,318) 12,451,734 - Business-type Activities Capital Assets $ 12,696,052 $ (244,318) $ 12,451,734 - $ General Government $ 82,883
Public Works 1,012,459
Public Safety 206,535
Recreation/Senior Services 1,409,312
Community Development 22,363
Capital Assets held by internal service funds are charged to the various functions based on usage of the assets 353,510 Total Depreciation Expense - Governmental Activities $ 3,087,062 Beginning Ending Due Within
Balance Additions Deletions Balance One Year
Governmental Activities:

Loan Payable from Direct Borrowing:

City of Industry Loan Agreement 1,227,615 $ $ 49,236 - $ $ 1,178,379 $ 49,399 Leases Payable 512,613 477,109 189,958 799,764 178,767
Software Subscription Liability 1, - 032,676 226,990 805,686 217,875 2019A Sales Tax Revenue Bonds 3,280,000 - 155,000 3,125,000 160,000 2019B Sales Tax Revenue Bonds 2,915,000 - 140,000 2,775,000 145,000 Premium on Bonds 362,419 22,651 - 339,768 -
2020A Certificates of Participation 7,791,933 - 374,850 7,417,083 398,533 2022A Certificates of Participation 3,713,856 - 140,000 3,573,856 150,000 Net Pension Liability/(Asset) 2,708,922 541,174 3,250,096 - - Net OPEB Liability/(Asset) 158,650 48,241 206,891 - -
Compensated Absences 347,782 49,187 396,969 - -
Total $ 23,018,790 $ 2,148,387 $ 1,298,685 $ 23,868,492 $ 1,299,574 42 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
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 outstanding leases was $1,001,619. As of June 30, 2024, the value of the lease liability was $799,764.

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 $772,095. The following represents the future debt service requirements:

Beginning Ending Due Within
Balance Additions Deletions Balance One Year
Business-type Activities:

Bonds payable from Direct Borrowing:
2016 Sewer Refunding Bonds $ 6,970,000 $ - $ 375,000 $ 6,595,000 $ 390,000 Total $ 6,970,000 $ - $ 375,000 $ 6,595,000 $ 390,000
Fiscal Year Ending
June 30, Principal Interest Total
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 50,054 3,233 53,287
2030-2034 252,758 13,677 266,435
2035-2039 256,955 9,480 266,435
2040-2044 261,224 5,211 266,435
2045-2047 158,813 1,048 159,861
Totals $ 1,178,379 $ 47,222 $ 1,225,601
43 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
6) LONG-TERM LIABILITIES – Continued
Software Subscription Liability
The City of La Puente has entered into subscription-based information technology arrangement (SBITA) with vendors for various City software systems. The systems are discounted at a rate of 5.5%. For the year ended June 30, 2024, the City reported a SBITA liability in the amount of $805,686. For the year ended June 30, 2024, there was a principal reduction of $226,990. As of June 30, 2024, the net SBITA right-to-use intangible asset was reported in the amount of $826,141. The future payments on the SBITA liability are as follows:
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.

Fiscal Year Ending
June 30, Principal Interest Total
2025 178,775 $ 21,548 $ 200,323 $
2026 184,213 16,110 200,323
2027 191,095 10,461 201,556
2028 179,878 4,813 184,691
2029 65,803 804 66,607
Totals 799,764 $ 53,736 $ 853,500 $
Leases Payable
Fiscal Year Ending
June 30, Principal Interest Total
2025 $ 217,875 $ 24,625 $ 242,500
2026 206,516 35,984 242,500
2027 195,750 46,750 242,500
2028 185,545 56,955 242,500
Totals $ 805,686 $ 164,314 $ 970,000
44 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
6) LONG-TERM LIABILITIES – Continued
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 2023-24 fiscal year were $699,934. 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 2023-24 fiscal year were $619,843. Future debt service requirements on the 2019A and 2019B Bonds are as follows:
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.

Fiscal Year Ending
June 30, Principal Interest Total
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 190,000 73,238 263,238
2030-2034 1,040,000 267,737 1,307,737
2035-2039 1,210,000 103,363 1,313,363
Totals 3,125,000 $ 807,088 $ 3,932,088 $
2019A Measure M Bonds
Fiscal Year Ending
June 30, Principal Interest Total
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 170,000 65,000 235,000
2030-2034 925,000 237,000 1,162,000
2035-2039 1,070,000 91,475 1,161,475
Totals 2,775,000 $ 715,475 $ 3,490,475 $
2019B Measure R Bonds
45 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
6) LONG-TERM LIABILITIES – Continued
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:
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:

Fiscal Year Ending
June 30, Principal Interest Total
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 503,284 165,291 668,575
2030-2034 2,973,177 571,088 3,544,265
2035-2037 2,194,552 102,665 2,297,217
Totals 7,417,083 $ 1,641,331 $ 9,058,414 $
2020A Certificates of Participation
46 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
6) LONG-TERM LIABILITIES – Continued
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.

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 2023-24 fiscal year amounted to approximately $900,000, while the debt service requirements on the related debt were approximately $574,000.

Fiscal Year Ending
June 30, Principal Interest Total
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 195,000 65,058 260,058
2030-2034 1,075,000 250,908 1,325,908
2035-2039 1,535,000 105,030 1,640,030
2040 108,856 1,257 110,113
Totals 3,573,856 $ 723,140 $ 4,296,996 $
2022A Certificates of Participation
Fiscal Year Ending
June 30, Principal Interest Total
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 435,000 139,395 574,395
2030-2034 2,375,000 495,097 2,870,097
2035-2038 2,165,000 129,140 2,294,140
Totals 6,595,000 $ 1,443,099 $ 8,038,099 $
47 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
6) LONG-TERM LIABILITIES – Continued
The City is subject to a legal debt margin of approximately $454 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 $11 million subject to the limit.

Fiduciary Fund Long-term Liabilities
The following represents the long-term debt activity of the Successor Agency for the 2023-24 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:
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:

Beginning Ending Due Within
Tax Allocation Refunding Bonds: Balance Additions Deletions Balance One Year Series 2014A $ 2,845,000 $ - $ 135,000 $ 2,710,000 $ 145,000 Total $ 2,845,000 $ - $ 135,000 $ 2,710,000 $ 145,000
Fiscal Year Ending
June 30, Principal Interest Total
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 170,000 87,870 257,870
2030-2034 980,000 318,203 1,298,203
2035-2038 955,000 85,586 1,040,586
Totals 2,710,000 $ 911,761 $ 3,621,761 $
48 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
7) RISK MANAGEMENT - Continued
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.

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 2023-24 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. 49 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
7) RISK MANAGEMENT - Continued
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 $44,602,254. 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.

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 2023-24.

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.

50 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
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, 2022 Annual Actuarial Valuation Report. Details of the benefits provided can be obtained in Appendix B of the June 30, 2022 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, 2024, are summarized as follows:

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 contributions to the Plan for the year ended June 30, 2024 were $445,647.

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% 8.25%
Required employer contribution rates 15.53% 8.48%
51 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
8) PENSION PLAN – Continued
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources for Pensions As of June 30, 2024, the City reported a net pension liability/(asset) of $3,250,096 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, 2023, 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, 2022 rolled forward to June 30, 2023 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, 2024 and 2023 was as follows:

For the year ended June 30, 2024, the City recognized a pension expense/(credit) of $1,757,965. At June 30, 2024, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

The $445,647 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, 2025. Other amounts reported as deferred outflows and deferred inflows related to pensions will be recognized as pension expense as follows:

Proportion - June 30, 2023 0.05789%
Proportion - June 30, 2024 0.06500%
Change - Increase (Decrease) 0.00711%
Deferred Deferred
Outflows Inflows
Pension contributions subsequent to measurement date 445,647 $ $ - Differences between actual and expected experience 166,033 25,756 Changes in assumptions 196,223 -
Differences between employer's contributions
and proportionate share of contributions 1,019,766 661,865 Change in employer's proportions 1,172,448 902,770
Net differences between projected and actual
earnings on plan investments 526,218 -
Total $ 3,526,335 $ 1,590,391
Year Ending
June 30,
2025 $ 728,384
2026 400,092
2027 346,723
2028 15,098
2029 -
Thereafter -
52 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
8) PENSION PLAN - Continued
Actuarial Assumptions – The total pension liabilities in the June 30, 2022 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.

The expected real rates of return by asset class are as follows:

Valuation date June 30, 2022
Measurement date June 30, 2023
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. 53 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
8) PENSION PLAN - Continued
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, 2024, the City reported no payables due to the pension plan, for outstanding contributions.

Assumed
Asset Real Return
Asset Class Allocation Real Return (1,2)
Global Equity - Cap-weighted 30% 4.54%
Global Equity - Non-Cap-weighted 12% 3.84%
Private Equity 13% 7.28%
Treasury 5% 0.27%
Mortgage-backed securities 5% 0.50%
Investment Grade Corporates 10% 1.56%
High Yield 5% 2.27%
Emerging Market Debt 5% 2.45%
Private Debt 5% 3.57%
Real Assets 15% 3.21%
Leverage -5% -0.59%
(1) An expected inflation of 2.30% used for this period. (2) Figures are based on the 2021 Asset Liability Management Study 1% Decrease 5.90%
Net Pension Liability $ 6,871,722
Current Discount Rate 6.90%
Net Pension Liability $ 3,250,096
1% Increase 7.90%
Net Pension Liability $ 269,188
54 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
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.

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, 2023 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, 2024, the City’s cash contributions for retiree health benefits was $238,199.

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, 2023 and the total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation dated June 30, 2023, based on the following actuarial methods and assumptions:

Valuation Date June 30, 2023
Actuarial Cost Method Entry Age Actuarial Cost
Mortality 2021 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 23
Active employees 48
71 55
City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
9) OTHER POSTEMPLOYMENT 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, 2022 $ 4,292,981 $ 4,134,331 $ 158,650 Changes in the year:

Service cost 173,477 - 173,477
Interest on the total OPEB liability 287,304 - 287,304
Changes in Assumptions 143,550 - 143,550
Employer Contributions - 211,604 (211,604)
Employee Contributions - - -
Actual Investment Income - 279,027 (279,027)
Administrative Expense - (1,200) 1,200
Benefit payments, including refunds (246,730) (211,604) (35,126) Experience (Gains)/Losses (45,206) (13,673) (31,533)
Net changes 312,395 264,154 48,241
Balance at June 30, 2023 $ 4,605,376 $ 4,398,485 $ 206,891 Increase (Decrease)
56 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
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)
For the year ended June 30, 2024, the City recognized OPEB expense of $241,836. 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) 779,310 $ 206,891 $ (267,538) $ 1% Decrease Trend - No Change 1% Increase
(3%) (4%) (5%)
Net OPEB liability (asset) $ (288,621) $ 206,891 $ 821,879 Deferred Deferred
Outflows Inflows
OPEB Contributions Subsequent to the Measurement Date $ 238,199 $ - Changes of Assumptions 265,847 -
Differences between actual and projected experience - 467,847 Net differences between projected and actual
earnings on plan investments 397,591 -
Total $ 901,637 $ 467,847
57 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
9) OTHER POST EMPLOYMENT BENEFITS - Continued
The $238,199 reported as deferred outflows of resources related to contributions subsequent to the June 30, 2023 measurement date will be recognized as a reduction of the net OPEB liability during the fiscal year ended June 30, 2025. 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, 2024, are presented below:

The Miscellaneous Grants Fund and Other Governmental Funds have a deficit fund balance of $2,231,634 and $319,843, respectively, as of June 30, 2024. 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,
2025 $ 57,376
2026 59,456
2027 165,374
2028 (26,058)
2029 (28,791)
Thereafter (31,766)
Other
General Miscellaneous Governmental
Fund Gas Tax Grants Funds Total
Nonspendable:

Prepaid Costs 112,187 $ 3,072 $ - $ 20,896 $ $ 136,155
Long-term Advances 9,309,758 - - - 9, 309,758
Restricted for:

Lighting and Landscape - - - 849,340 849,340
Low Income Housing - - - 2, 2,031,551 031,551
PEG Access - - - 104,496 104,496
Street Projects - - 226,693 3, 3,510,609 283,916
Safe Clean Water - - - 565,713 565,713
Air Pollution Reduction Measures - - - 220,352 220,352
La Puente Community Foundation - - - 382,151 382,151
Public Works (Transportation) - - - 734,740 734,740
Unassigned 20,369,574 - (2,231, (319,843) 634) 17, 818,097 Total Fund Balance 29,791,519 $ 229,765 $ (2,231,634) $ 7,873,312 $ 35,662,962 $ 58 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2024
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 $403,783. 12) CHANGE WITHIN THE FINANCIAL REPORTING ENTITY
Beginning fund balance/net position for the Other Governmental Funds nonmajor La Puente Community Foundation Fund and Governmental Activities was increased by $163,323 for the La Puente Community Foundation – a blended component unity of the City of La Puente.

Non-major
Other La Puente
Statement of Governmental Community
Activities Funds Foundation
Net position or fund balances, Beginning
of Year, As previously reported $ - $ - $ -
Change within the reporting entity -
addition of blended component unit 163,323 163,323 163,323 Net position or fund balances, Beginning
of Year, As restated $ 163,323 $ 163,323 $ 163,323
Reporting Units Affected by Adjustments to
and Restatements of Beginning Balances
59 REQUIRED SUPPLEMENTARY

INFORMATION
City of La Puente
Required Supplementary Information
For the Year Ended June 30, 2024
2023 2022 2021
Total OPEB Liability
Service cost $ 173,477 $ 168,834 $ 118,892
Interest on total OPEB liability 287,304 273,656 291,855 Changes in Assumptions 143,550 - 193,212
Experience Gains/Losses (45,206) (499,235) -
Benefit payments, including refunds (246,730) (238,498) (271,909) Net change in total OPEB liability 312,395 203,992 (167,185) Total OPEB liability - beginning 4,292,981 4,088,989 4,256,174 Total OPEB liability - ending (a) $ 4,605,376 $ 4,292,981 $ 4,088,989 Plan Fiduciary Net Position
Contributions - employer $ 211,604 $ 211,591 $ 2,971,909 Interest on TOL/Return on FNP 279,027 322,225 690,736
Invesment Gains/Losses (13,673) (960,987) -
Benefit payments (211,604) (211,591) (271,909)
Administrative Expense (1,200) (1,209) (1,063)
Other - - -
Net change in plan fiduciary net position 264,154 (639,971) 3,389,673 Plan fiduciary net position - beginning 4,134,331 4,774,302 1,384,629 Plan fiduciary net position - ending (b) $ 4,398,485 $ 4,134,331 $ 4,774,302 Net OPEB liability/(asset) - ending (a) - (b) $ 206,891 $ 158,650 $ (685,313) Plan fiduciary net position as a percentage
of the total OPEB liability 95.51% 96.30% 116.76%
Covered-employee payroll 3,864,935 $ 3,271,240 $ 2,581,351 $ Net OPEB liability/(asset) as a percentage of
covered-employee payroll 5.35% 4.85% -26.55%
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*
60 2020 2019 2018 2017
$ 115,710 $ 102,612 $ 99,866 $ 97,193
284,285 282,007 275,764 269,417
- (65,672) - -
- - - -
(294,371) (291,539) (284,077) (273,151)
105,624 27,408 91,553 93,459
4,150,550 4,123,142 4,031,589 3,938,130
$ 4,256,174 $ 4,150,550 $ 4,123,142 $ 4,031,589
$ 656,412 $ 640,755 $ 568,154 $ 273,151
81,182 51,475 27,419 23,980
(49,005) (7,542) (14,462) -
(270,512) (265,155) (284,077) (273,151)
(478) (129) (505) (201)
- - 1,183 -
417,599 419,404 297,712 23,779
967,030 547,626 249,914 226,135
$ 1,384,629 $ 967,030 $ 547,626 $ 249,914
$ 2,871,545 $ 3,183,520 $ 3,575,516 $ 3,781,675

32.53% 23.30% 13.28% 6.20%
$ 2,274,945 $ 2,074,085 $ 1,845,731 $ 1,732,444
126.22% 153.49% 193.72% 218.29%
Measurement Period
61 City of La Puente
Required Supplementary Information
For the Year Ended June 30, 2024
Notes to the Schedule of Plan Contributions
Valuation Date: 6/30/18, 6/30/21, 6/30/23
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 2024 $ 238,199 $ (238,199) $ 4,411,111 - $ 5.40%
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
62 City of La Puente
Required Supplementary Information
For the Year Ended June 30, 2024
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%.

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 2023 0.06500% 3,250,096 $ $ 3,864,935 84.09% 87.86%
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
63 City of La Puente
Required Supplementary Information
For the Year Ended June 30, 2024
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, 6/30/22 Changes in Assumptions: None.

Contributions in
Relation to the Contributions
Contractually Actuarially Contribution as a % of
Required Determined Deficiency/ Covered Covered
Fiscal Year Contributions Contributions (Excess) Payroll Payroll 2024 609,106 $ (609,106) $ - $ 4,411,111 $ 13.81%
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
64 City of La Puente
Budgetary Comparison Schedule
Budget and Actual - General Fund
Year Ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Taxes 16,533,800 $ 16,533,800 $ 16,521,201 $ (12,599) $ Licenses and Permits 683,700 683,700 1,138,897 455,197
Intergovernmental 646,500 646,500 143,658 (502,842)
Charges for Services 860,600 860,600 1,023,723 163,123
Fines and Forfeitures 399,500 399,500 668,072 268,572
Investment Income 200,000 200,000 1,453,441 1,253,441
Other Revenue 16,100 16,100 82,192 66,092
Total Revenues 19,340,200 19,340,200 21,031,184 1,690,984

EXPENDITURES
Current:

General Government 3,025,000 3,030,000 3,183,925 (153,925) Public Safety 10,839,400 11,692,100 10,401,528 1,290,572 Public Works 477,800 477,800 531,588 (53,788)
Recreation/Senior Services 1,961,700 2,652,100 2,163,812 488,288 Community Development 2,565,000 3,509,400 3,574,232 (64,832) Debt Service - - 239,475 (239,475)
Capital Outlay - 1,549,500 1,578,495 (28,995)
Total Expenditures 18,868,900 22,910,900 21,673,055 1,237,845 Excess (Deficiency) of Revenues
over Expenditures 471,300 (3,570,700) (641,871) 2,928,829

OTHER FINANCING SOURCES (USES)
Debt Issuance - 1,032,676 - 1,032,676
Transfers In 437,200 437,200 15,323 (421,877)
Transfers Out (908,500) (908,500) (1,280,450) (371,950) Total Other Financing Sources (Uses) (471,300) (471,300) (232,451) 238,849 Net Change in Fund Balances (4,042,000) - (874,322) 3,167,678 Fund Balance, Beginning of Year 30,665,841 30,665,841 30,665,841 - Fund Balance, End of Year $ 30,665,841 $ 26,623,841 $ 29,791,519 $ 3,167,678 Budgeted Amounts
65 City of La Puente
Budgetary Comparison Schedule
Budget and Actual - Gas Tax Special Revenue Fund
Year Ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Intergovernmental 2,033,000 $ 2,033,000 $ 2,011,690 $ (21,310) $ Investment Income 4,000 4,000 15,091 11,091
Other Revenue 500 500 4,622 4,122
Total Revenues 2,037,500 2,037,500 2,031,403 (6,097)

EXPENDITURES
Current:

Public Works 1,101,700 1,101,700 1,161,298 (59,598)
Capital Outlay 2,988,000 3,438,000 3,214,487 223,513
Total Expenditures 4,089,700 4,539,700 4,375,785 163,915 Excess (Deficiency) of Revenues
over Expenditures (2,052,200) (2,502,200) (2,344,382) 157,818

OTHER FINANCING SOURCES (USES)
Transfers In - - 183,941 183,941
Total Other Financing Sources (Uses) - - 183,941 183,941 Net Change in Fund Balances (2,052,200) (2,502,200) (2,160,441) 341,759 Fund Balance, Beginning of Year 2,390,206 2,390,206 2,390,206 - Fund Balance, End of Year 338,006 $ (111,994) $ 229,765 $ 341,759 $ Budgeted Amounts
66 City of La Puente
Budgetary Comparison Schedule
Budget and Actual - Miscellaneous Grant
Year Ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Intergovernmental 3,632,900 $ 3,632,900 $ 1,780,205 $ (1,852,695) $ Total Revenues 3,632,900 3,632,900 1,780,205 (1,852,695)

EXPENDITURES
Current:

Community Development 3,300,000 3,300,000 1,927,432 1,372,568 Capital Outlay 332,900 375,200 166,023 209,177
Total Expenditures 3,632,900 3,675,200 2,093,455 1,581,745 Excess (Deficiency) of Revenues
over Expenditures - (42,300) (313,250) (270,950)

OTHER FINANCING SOURCES (USES)
Transfers Out - (11,938) - (11,938)
Total Other Financing Sources (Uses) - (11,938) - (11,938) Net Change in Fund Balances (42,300) - (325,188) (282,888) Fund Balance, Beginning of Year (1,906,446) (1,906,446) (1,906,446) - Fund Balance, End of Year $ (1,906,446) $ (1,948,746) $ (2,231,634) $ (282,888) Budgeted Amounts
67 City of La Puente
Notes to Required Supplementary Information
Year Ended June 30, 2024

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, 2024, 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.  No budget was adopted adopted for the Housing PLHA and La Puente Community Foundation Special Revenue Funds.
68 SUPPLEMENTARY INFORMATION
City of La Puente
Other Governmental Funds
June 30, 2024

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:

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.
69 City of La Puente
Other Governmental Funds
June 30, 2024
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.

Housing PLHA – To account for funds received from the State of California from the Permanent Local Housing Allocation Program (PLHA) and is to be used for housing-related projects and programs that assist in addressing unmet housing needs.

La Puente Community Foundation – To account for funds of the La Puente Community Foundation, a blended component unit of the City of La Puente.

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. 70 PEG State JAG
Measure M Prop C Access COPS Grant
ASSETS
Cash and Investments $ 97,919 $ 2,956,763 $ 97,119 $ - $ - Cash with Fiscal Agent - - - - -
Accounts Receivable - - 7,377 - -
Loans Receivable - - - - -
Prepaid Items 1,446 994 - - -
Due From Other Governments 55,378 64,936 - - -
Total Assets $ 154,743 $ 3,022,693 $ 104,496 $ - $ -

LIABILITIES
Accounts Payable and Accrued Liabilities $ 78,270 $ 58,424 $ - $ - $ - Due to Other Agencies - - - - -
Due to Other Funds - - - - -
Total Liabilities 78,270 58,424 - - -

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

FUND BALANCES
Nonspendable 1,446 994 - - -
Restricted 75,027 2,963,275 104,496 - -
Unassigned - - - - -
Total Fund Balances 76,473 2,964,269 104,496 - -
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances $ 154,743 $ 3,022,693 $ 104,496 $ - $ - Special Revenue Funds
City of La Puente
Combining Balance Sheet
Other Governmental Funds
June 30, 2024
71 Cal-HOME CDBG Air Quality Prop. A Measure
Grant Grant Improvement Measure R Transportation Housing A $ 756,037 $ 220,352 - $ $ 242,854 $ 874,323 $ 556,710 $ - - - - - - - -
- - - - - - -
722,749 386,194 - - - - -
- - - 2,801 12,987 - 1,446
50,340 - 48,845 - - 76,355 -
$ 1,478,786 $ 436,534 $ 220,352 $ 294,500 $ 887,310 $ 556,710 $ 77,801 $ 3,945 $ 22,496 $ 46,639 - $ $ 139,583 $ - $ 8,645
386,194 - - - - - -
27,844 - - - - 69,156 -
3,945 436,534 46,639 - 139,583 77,801 -
- - - - - 76,355 -
- - - - - 76,355 -
- - - 2,801 12,987 - 1,446
1,474,841 220,352 - 245,060 734,740 556,710 -
- - - - - (77,801) -
1,474,841 220,352 247,861 - 747,727 556,710 (76,355)
$ 1,478,786 $ 436,534 $ 220,352 $ 294,500 $ 887,310 $ 556,710 $ 77,801 Continued
Special Revenue Funds
72 La Puente
Measure HSIP Housing Community
W LLMD Grant PLHA Foundation
ASSETS
Cash and Investments 592,848 $ 906,413 $ 787 $ - $ 409,799 $ Cash with Fiscal Agent - - - - -
Accounts Receivable - - - - -
Loans Receivable - - - 200,000 -
Prepaid Items - 1,222 - - -
Due From Other Governments - 9,930 40,000 202,042 -
Total Assets 592,848 $ 917,565 $ 40,787 $ 402,042 $ 409,799 $

LIABILITIES
Accounts Payable 27,135 $ 67,003 $ 40,787 $ 1,749 $ 27,648 $ Due to Other Agencies - - - 200,000 -
Due to Other Funds - - - 200,293 -
Total Liabilities 27,135 67,003 40,787 402,042 27,648

DEFERRED INFLOWS OF RESOURCES
Unavailable Revenues - Grants - - 40,000 202,042 -
Total Deferred Inflows of Resources - - 40,000 202,042 -

FUND BALANCES
Nonspendable - 1,222 - - -
Restricted 565,713 849,340 - - 382,151
Unassigned - - (40,000) (202,042) -
Total Fund Balances 565,713 850,562 (40,000) (202,042) 382,151 Total Liabilities, Deferred Inflows of
Resources, and Fund Balances $ 592,848 $ 917,565 $ 40,787 $ 402,042 $ 409,799 City of La Puente
Combining Balance Sheet
Other Governmental Funds - Continued
June 30, 2024
Special Revenue Funds
73 Capital 2019A 2019B Citywide 2019A 2019B
Projects Measure M Measure R Debt Service Measure M Measure R Total $ 2 - $ - $ - $ - $ - $ 7,711,926 $
28,967 548 8,795 - - - 38,310
- - - - - - 7,377
- - - - - - 1,308,943
- - - - - - 20,896
- - - - - - 547,826
$ 28,969 548 $ 8,795 $ - $ - $ - $ 9,635,278 $
$ 28,969 - $ 8,771 $ - $ - $ - $ 560,064 $
- - - - - - 586,194
- - 18 - - - 297,311
28,969 - 8,789 - - - 1,443,569
- - - - - - 318,397
- - - - - - 318,397
- - - - - 20,896 -
548 - 6 - - 8,172,259 -
- - - - - (319,843) -
548 - 6 - - 7,873,312 -
$ 548 $ 28,969 $ 8,795 $ - $ - $ 9,635,278 - $
Capital Projects Debt Service
74 City of La Puente
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Other Governmental Funds
Year Ended June 30, 2024
PEG State JAG
Measure M Prop C Access COPS Grant

REVENUES
Taxes $ - $ - $ - $ - $ -
Intergovernmental 699,934 826,716 186,159 - 12,031
Charges for Services - 35,160 - - -
Investment Income 9,041 47,214 1,302 - -
Other Revenue - - - - -
Total Revenues 708,975 873,930 36,462 186,159 12,031

EXPENDITURES
Current:

General Government - 19,010 - - -
Public Safety - - 186,159 - 12,031
Public Works 158,686 84,995 - - -
Community Development - - - - -
Capital Outlay 1,155,373 1,223,812 - - -
Interest and Fiscal Charges - - - - -
Principal - - - - -
Total Expenditures 1,314,059 1,308,807 19,010 186,159 12,031 Excess (Deficiency) of Revenues
Over (Under) Expenditures (605,084) (434,877) 17,452 - -

OTHER FINANCING SOURCES (USES)
Transfers In - - - - -
Transfers Out (261,838) - - - -
Total Other Financing Sources (Uses) (261,838) - - - -
Net Change in Fund Balances (866,922) (434,877) 17,452 - - Fund Balances, Beginning, as previously reported 943,395 3,399,146 87,044 - - Change within the reporting entity -
addition of blended component unit - - - - -
Fund Balances, Beginning, as adjusted 943,395 3,399,146 87,044 - - Fund Balances, End of Year 76,473 $ 2,964,269 $ 104,496 $ - $ - $ Special Revenue
75 Cal-HOME CDBG Air Quality Prop. A Measure
Grant Grant Improvement Measure R Transportation Housing A $ - $ - $ - $ - $ - $ - $ -
38,385 371,573 37,680 619,843 996,671 49,905 -
- - - 35,250 - - -
10,652 21 2,890 6,555 12,469 7,594 -
- - - - - - -
49,037 371,594 40,570 626,398 1,044,390 7,594 49,905
- - - - - - -
- - - - - - -
- - 167 161,716 - - -
3,945 371,594 - 1,057,382 - 51,268 -
- - 450,134 - - 46,846 -
- - - - - - -
- - - - - - -
3,945 371,594 167 611,850 1,057,382 98,114 -
45,092 40,403 - 14,548 (12,992) 7,594 (48,209)
- - - - 77,522 - -
(3,385) - (288,287) - - - -
(3,385) - (288,287) - 77,522 - -
41,707 40,403 - (273,739) (12,992) 85,116 (48,209)
1,433,134 179,949 - 521,600 760,719 471,594 (28,146)
- - - - - - -
1,433,134 179,949 - 521,600 760,719 471,594 (28,146)
$ 1,474,841 $ 220,352 - $ $ 247,861 $ 747,727 $ 556,710 $ (76,355) Continued
Special Revenue
76 City of La Puente
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Other Governmental Funds - Continued
Year Ended June 30, 2024
La Puente
Measure HSIP Housing Community
W LLMD Grant PLHA Foundation

REVENUES
Taxes - $ 970,537 $ - $ - $ - $
Intergovernmental 341,098 - 739,700 - -
Charges for Services - - - - 562,542
Investment Income 7,887 12,012 - - 9,103
Other Revenue - 4,960 - - 53,786
Total Revenues 348,985 987,509 739,700 - 625,431

EXPENDITURES
Current:

General Government - - - - -
Public Safety - - - - -
Public Works 106,931 - - - -
Community Development - 989,034 - 202,042 406,603
Capital Outlay 54,032 - 779,495 - -
Interest and Fiscal Charges - - - - -
Principal - - - - -
Total Expenditures 160,963 989,034 779,495 202,042 406,603 Excess (Deficiency) of Revenues
Over (Under) Expenditures 188,022 (1,525) (39,795) (202,042) 218,828

OTHER FINANCING SOURCES (USES)
Transfers In - - - - -
Transfers Out - - - - -
Total Other Financing Sources (Uses) - - - - -
Net Change in Fund Balances 188,022 (1,525) (39,795) (202,042) 218,828 Fund Balances, Beginning of Year, Restated 377,691 852,087 (205) - - Change within the reporting entity -
addition of blended component unit - - - 163,323 -
Fund Balances, Beginning of Year, Restated 377,691 852,087 (205) 163,323 - Fund Balances, End of Year $ 565,713 $ 850,562 $ (40,000) $ (202,042) $ 382,151 Special Revenue
77 Capital 2019A 2019B Citywide 2019A 2019B
Projects Measure M Measure R Debt Service Measure M Measure R Total $ - - $ - $ - $ - $ - $ 970,537 $
- - - - - - 4,919,695
- - - - - - 632,952
- 7 6 - - - 126,753
- - - - - - 58,746
- 7 6 - - - 6,708,683
- - - - - - 19,010
- - - - - - 198,190
- - - - - - 512,495
- - - - - - 3,081,868
668,627 31,195 218,823 - - - 4,628,337
- 4,051 - 316,110 106,838 95,000 521,999
- 49,236 - 514,850 155,000 140,000 859,086
668,627 84,482 218,823 830,960 261,838 235,000 9,820,985 (84,475) (668,627) (218,817) (830,960) (261,838) (235,000) (3,112,302) 53,287 - 830,960 - 261,838 235,000 1,458,607
- - - - - (553,510) -
53,287 - 830,960 - 261,838 235,000 905,097
(31,188) (668,627) (218,817) - - (2,207,205) -
31,736 668,627 218,823 - - 9,917,194 -
- - - - - 163,323 -
31,736 668,627 218,823 - - 10,080,517 -
$ 548 $ - $ 6 $ - $ - $ 7,873,312 - $
Capital Projects Debt Service
78 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 765,900 $ 699,934 $ (65,966) $
Investment Income 3,000 9,041 6,041
Other Income - - -
Total Revenues 768,900 708,975 (59,925)

EXPENDITURES
Current:

Public Works 181,700 158,686 23,014
Capital Outlay 1,011,200 1,155,373 (144,173)
Total Expenditures 1,192,900 1,314,059 (144,173)
Excess (Deficiency) of Revenues
Over (Under) Expenditures (424,000) (605,084) (181,084)

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out (261,800) (261,838) (38)
Total Other Financing Sources (Uses) (261,800) (261,838) (38) Net Change in Fund Balances (685,800) (866,922) (181,122) Fund Balance, Beginning of Year 943,395 943,395 -
Fund Balance, End of Year 257,595 $ 76,473 $ (181,122) $ City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Measure M Fund
Year Ended June 30, 2024
79 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 901,100 $ 826,716 $ (74,384) $
Investment Income 8,000 47,214 39,214
Total Revenues 909,100 873,930 (35,170)

EXPENDITURES
Current:

Public Works 119,900 84,995 34,905
Capital Outlay 1,822,700 1,223,812 598,888
Total Expenditures 1,942,600 1,308,807 598,888
Excess (Deficiency) of Revenues
Over (Under) Expenditures (1,033,500) (434,877) 598,623

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (1,033,500) (434,877) 598,623 Fund Balance, Beginning of Year 3,399,146 3,399,146 -
Fund Balance, End of Year 2,365,646 $ 2,964,269 $ 598,623 $ City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Prop C Fund
Year Ended June 30, 2024
80 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Charges for Services 39,000 $ 35,160 $ (3,840) $
Investment Income 700 1,302 602
Total Revenues 39,700 36,462 (3,238)

EXPENDITURES
Current:

General Government 29,000 19,010 9,990
Capital Outlay - - -
Total Expenditures 29,000 19,010 -
Excess (Deficiency) of Revenues
Over (Under) Expenditures 10,700 17,452 6,752

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances 10,700 17,452 6,752
Fund Balance, Beginning of Year 87,044 87,044 -
Fund Balance, End of Year 97,744 $ 104,496 $ 6,752 $
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - PEG Fund
Year Ended June 30, 2024
81 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 165,000 $ 186,159 $ 21,159 $
Total Revenues 165,000 186,159 21,159

EXPENDITURES
Current:

Public Safety 165,000 186,159 (21,159)
Total Expenditures 165,000 186,159 (21,159)
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, 2024
Budget and Actual - State COPS Fund
82 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental - $ 12,031 $ 12,031 $
Total Revenues - 12,031 12,031

EXPENDITURES
Current:

Public Safety - 12,031 (12,031)
Total Expenditures - 12,031 (12,031)
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 Budget and Actual - JAG Grant Fund
Year Ended June 30, 2024
83 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental - $ 38,385 $ 38,385 $
Investment Income 2,000 10,652 8,652
Total Revenues 2,000 49,037 47,037

EXPENDITURES
Current:

Community Development 155,000 3,945 151,055
Total Expenditures 155,000 3,945 151,055
Excess (Deficiency) of Revenues
Over (Under) Expenditures (153,000) 45,092 198,092

OTHER FINANCING SOURCES (USES)
Transfers Out (5,000) (3,385) 1,615
Total Other Financing Sources (Uses) (5,000) (3,385) 1,615 Net Change in Fund Balances (158,000) 41,707 199,707
Fund Balance, Beginning of Year 1,433,134 1,433,134 -
Fund Balance, End of Year 1,275,134 $ 1,474,841 $ 199,707 $ City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Cal-HOME Grant Fund
Year Ended June 30, 2024
84 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 409,400 $ 371,573 $ (37,827) $
Investment Income 600 21 (579)
Total Revenues 410,000 371,594 (38,406)

EXPENDITURES
Current:

Community Development 410,000 371,594 38,406
Total Expenditures 410,000 371,594 38,406
Excess (Deficiency) of Revenues
Over (under) Expenditures - - -

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balance - - -
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 - CDBG Grant Fund
Year Ended June 30, 2024
85 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 76,000 $ 37,680 $ (38,320) $
Investment Income 1,000 2,890 1,890
Total Revenues 77,000 40,570 (36,430)

EXPENDITURES
Current:

Public Works 1,100 167 933
Capital Outlay 147,800 - 147,800
Total Expenditures 148,900 167 148,733
Excess (Deficiency) of Revenues
Over (Under) Expenditures (71,900) 40,403 112,303

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (71,900) 40,403 112,303
Fund Balance, Beginning of Year 179,949 179,949 -
Fund Balance, End of Year 108,049 $ 220,352 $ 112,303 $ City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Air Quality Improvement Fund
Year Ended June 30, 2024
86 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 675,800 $ 619,843 $ (55,957) $
Investment Income 3,000 6,555 3,555
Total Revenues 678,800 626,398 (52,402)

EXPENDITURES
Current:

Public Works 199,400 161,716 37,684
Capital Outlay 404,300 450,134 (45,834)
Total Expenditures 603,700 611,850 (8,150)
Excess (Deficiency) of Revenues
Over (Under) Expenditures 75,100 14,548 (60,552)

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Transfers Out (288,300) (288,287) 13
Total Other Financing Sources (Uses) (288,300) (288,287) 13 Net Change in Fund Balances (213,200) (273,739) (60,539) Fund Balance, Beginning of Year 521,600 521,600 -
Fund Balance, End of Year 308,400 $ 247,861 $ (60,539) $ City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Measure R Fund
Year Ended June 30, 2024
87 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 1,086,300 $ 996,671 $ (89,629) $
Charges for Services 42,000 35,250 (6,750)
Investment Income 4,000 12,469 8,469
Total Revenues 1,132,300 1,044,390 (87,910)

EXPENDITURES
Current:

Community Development 1,071,500 1,057,382 14,118
Capital Outlay - - -
Total Expenditures 1,071,500 1,057,382 14,118
Excess (Deficiency) of Revenues
Over (Under) Expenditures 60,800 (12,992) (73,792)

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances 60,800 (12,992) (73,792)
Fund Balance, Beginning of Year 760,719 760,719 -
Fund Balance, End of Year 821,519 $ 747,727 $ (73,792) $ City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Prop A Transportation Fund
Year Ended June 30, 2024
88 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Investment Income 1,000 $ 7,594 $ 6,594 $
Total Revenues 1,000 7,594 6,594

EXPENDITURES
Current:

Community Development - - -
Capital Outlay - - -
Total Expenditures - - -
Excess (Deficiency) of Revenues
Over (Under) Expenditures 1,000 7,594 6,594

OTHER FINANCING SOURCES (USES)
Transfers In 77,500 77,522 22
Total Other Financing Sources (Uses) 77,500 77,522 22
Net Change in Fund Balances 78,500 85,116 6,616
Fund Balance, Beginning of Year 471,594 471,594 -
Fund Balance, End of Year 550,094 $ 556,710 $ 6,616 $
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Housing Fund
Year Ended June 30, 2024
89 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 93,900 $ 49,905 $ (43,995) $
Total Revenues 93,900 49,905 (43,995)

EXPENDITURES
Current:

Community Development 93,900 51,268 42,632
Capital Outlay 27,500 46,846 (19,346)
Total Expenditures 121,400 98,114 23,286
Excess (Deficiency) of Revenues
Over (Under) Expenditures (27,500) (48,209) (20,709)

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (27,500) (48,209) (20,709)
Fund Balance, Beginning of Year (28,146) (28,146) -
Fund Balance, End of Year (55,646) $ (76,355) $ (20,709) $ City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Measure A
Year Ended June 30, 2024
90 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 340,000 $ 341,098 $ 1,098 $
Investment Income 500 7,887 7,387
Total Revenues 340,500 348,985 8,485

EXPENDITURES
Current:

Public Works 95,200 106,931 (11,731)
Capital Outlay 75,000 54,032 20,968
Total Expenditures 170,200 160,963 9,237
Excess (Deficiency) of Revenues
Over (Under) Expenditures 170,300 188,022 17,722

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances 170,300 188,022 17,722
Fund Balance, Beginning of Year 377,691 377,691 -
Fund Balance, End of Year 547,991 $ 565,713 $ 17,722 $
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Measure W
Year Ended June 30, 2024
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, 2024
Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Taxes 955,600 $ 970,537 $ 14,937 $
Investment Income 4,000 12,012 8,012
Other Revenue - 4,960 4,960
Total Revenues 959,600 987,509 27,909

EXPENDITURES
Current:

Community Development 1,028,400 989,034 39,366
Capital Outlay - - -
Total Expenditures 1,028,400 989,034 39,366
Excess (Deficiency) of Revenues
Over (under) Expenditures (68,800) (1,525) 67,275

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (68,800) (1,525) 67,275
Fund Balance, Beginning of Year 852,087 852,087 -
Fund Balance, End of Year $ 850,562 783,287 $ 67,275 $
92 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Intergovernmental 706,000 $ 739,700 $ 33,700 $
Investment Income - - -
Total Revenues 706,000 739,700 33,700

EXPENDITURES
Current:

Public Works - - -
Capital Outlay 706,000 779,495 (73,495)
Total Expenditures 706,000 779,495 (73,495)
Excess (Deficiency) of Revenues
Over (Under) Expenditures - (39,795) (39,795)

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances - (39,795) (39,795)
Fund Balance, Beginning of Year (205) (205) -
Fund Balance, End of Year (205) $ (40,000) $ (39,795) $ City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - HSIP Grant
Year Ended June 30, 2024
93 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Investment Income - $ 7 $ 7 $
Total Revenues - 7 7

EXPENDITURES
Current:

Capital Outlay - 31,195 (31,195)
Debt Service:

Interest and Fiscal Charges 4,060 4,051 9
Principal 49,240 49,236 4
Total Expenditures 53,300 84,482 (31,182)
Excess (Deficiency) of Revenues
Over (Under) Expenditures (53,300) (84,475) (31,175)

OTHER FINANCING SOURCES (USES)
Transfers In 53,300 53,287 (13)
Transfers Out - - -
Total Other Financing Sources (Uses) 53,300 53,287 (13) Net Change in Fund Balances - (31,188) (31,188)
Fund Balance, Beginning of Year 31,736 31,736 -
Fund Balance, End of Year 31,736 $ 548 $ (31,188) $
City of La Puente
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - Capital Projects Fund
Year Ended June 30, 2024
94 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

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

EXPENDITURES
Capital Outlay 683,000 668,627 14,373
Total Expenditures 683,000 668,627 14,373
Excess (Deficiency) of Revenues
Over (Under) Expenditures (683,000) (668,627) 14,373

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (683,000) (668,627) 14,373
Fund Balance, Beginning of Year 668,627 668,627 -
Fund Balance, End of Year (14,373) $ - $ 14,373 $
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, 2024
95 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

REVENUES
Investment Income - $ 6 $ 6 $
Total Revenues - 6 6

EXPENDITURES
Capital Outlay 233,200 218,823 14,377
Total Expenditures 233,200 218,823 14,377
Excess (Deficiency) of Revenues
Over (Under) Expenditures (233,200) (218,817) 14,383

OTHER FINANCING SOURCES (USES)
Transfers In - - -
Total Other Financing Sources (Uses) - - -
Net Change in Fund Balances (233,200) (218,817) 14,383
Fund Balance, Beginning of Year 218,823 218,823 -
Fund Balance, End of Year (14,377) $ 6 $ 14,383 $
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, 2024
96 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

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

EXPENDITURES
Debt Service:

Interest and Fiscal Charges 316,100 316,110 (10)
Principal 514,900 514,850 50
Total Expenditures 831,000 830,960 40
Excess (Deficiency) of Revenues
Over (Under) Expenditures (831,000) (830,960) 40

OTHER FINANCING SOURCES (USES)
Transfers In 831,000 830,960 (40)
Total Other Financing Sources (Uses) 831,000 830,960 (40) 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, 2024
97 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

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

EXPENDITURES
Debt Service:

Interest and Fiscal Charges 106,800 106,838 (38)
Principal 155,000 155,000 -
Total Expenditures 261,800 261,838 (38)
Excess (Deficiency) of Revenues
Over (Under) Expenditures (261,800) (261,838) (38)

OTHER FINANCING SOURCES (USES)
Transfers In 261,800 261,838 38
Total Other Financing Sources (Uses) 261,800 261,838 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, 2024
98 Variance with
Budgeted Final Budget
Amounts Actual Positive
Final Amounts (Negative)

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

EXPENDITURES
Debt Service:

Interest and Fiscal Charges 95,000 95,000 -
Principal 140,000 140,000 -
Total Expenditures 235,000 235,000 -
Excess (Deficiency) of Revenues
Over (Under) Expenditures (235,000) (235,000) -

OTHER FINANCING SOURCES (USES)
Transfers In 235,000 235,000 -
Total Other Financing Sources (Uses) 235,000 235,000 -
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, 2024
99 STATISTICAL SECTION
City of La Puente
Description of Statistical Section Contents
June 30, 2024
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
2015 2016 2017 2018
Governmental Activities:

Net investment in capital assets $ 27,804,320 $ 27,632,187 $ 26,447,434 $ 33,484,552 Restricted for:

Public Safety 30,021 23,020 19,638 19,924
Public Works 2,934,848 1,585,690 1,606,651 1,025,664
Community Development 1,041,358 1,310,428 2,061,170 4,479,500 Housing - - - -
Street Projects - - - -
Total Restricted 4,006,227 2,919,138 3,687,459 5,525,088 Unrestricted 15,107,425 17,428,553 16,917,773 16,458,039 Total governmental activities net position 46,917,972 $ $ 47,979,878 $ 47,052,666 $ 55,467,679 Business-type Activities
Net investment in capital assets 2,104,573 $ 2, $ 1, 148,360 $ 2, 505,872 $ 219,774 Restricted 3,654,183 4,010,624 5,115,463 4,935,754
Total business-type activities net position 5,758,756 $ $ 6,158,984 $ 6,621,335 $ 7,155,528 Primary Government
Net investment in capital assets 29,908,893 $ 29, $ 27, 780,547 $ 35, 953,306 $ 704,326 Restricted 7,660,410 6, 8, 929,762 10, 802,922 460,842
Unrestricted 15,107,425 17,428,553 16,917,773 16,458,039 Total Primary Government Net Position 52,676,728 $ $ 54,138,862 $ 53,674,001 $ 62,623,207 Source: Statement of Net Position
City of La Puente, California
Net Position by Component
Last Ten Fiscal Years
Fiscal Year
101
2019 2020 2021 2022 2023 2024
$ 33,313,131 $ 34,704,073 $ 38,528,613 $ 42,488,052 $ 45,311,834 $ 50,397,765 - - - - - -
1,692,971 2,019,337 1,797,385 2,569,994 2,225,714 1,598,837 465,431 588,724 444,356 960,587 644,684 1,272,712
1,594,037 1,666,795 1,747,011 1,817,453 1,904,728 2,031,551 3,029,306 5,066,769 1,524,428 3,945,973 5,757,889 3,518,374 6,781,745 9,341,625 5,513,180 9,294,007 10,533,015 8,421,474 18,697,664 20,263,419 23,624,236 26,693,694 29,962,886 27,928,472 $ 58,792,540 $ 64,309,117 $ 67,666,029 $ 78,475,753 $ 85,807,735 $ 86,747,711 $ 5, 2,372,895 $ 6, 380,080 $ 6, 616,010 $ 6, 074,011 $ 6, 165,403 $ 266,795 5,540,306 3,218,292 1,919,592 2,318,783 2,589,890 3,241,838 $ 7,913,201 $ 8,598,372 $ 8,535,602 $ 8,392,794 $ 8,755,293 $ 9,508,633 $ 40, 35,686,026 $ 45, 084,153 $ 48, 144,623 $ 51, 562,063 $ 56, 477,237 $ 664,560 12, 12,322,051 7, 559,917 11, 432,772 13, 612,790 11, 122,905 663,312 18,697,664 20,263,419 23,624,236 26,693,694 29,962,886 27,928,472 $ 66,705,741 $ 72,907,489 $ 76,201,631 $ 86,868,547 $ 94,563,028 $ 96,256,344 Fiscal Year
102
2015 2016 2017 2018
Expenses
Governmental activities:

General Government $ 2,422,592 $ 2,040,261 $ 3,344,530 $ 2,414,218 Public Safety 5,563,600 5,845,736 6,110,053 7,039,317
Public Works 1,045,925 1,028,734 2,653,875 3,235,695
Recreation/Senior Services 1,910,777 2,049,066 2,085,167 1,994,224 Community Development 2,618,301 3,897,493 2,504,463 3,329,047 Interest on Long-Term Debt 229,495 244,320 - 336,720
Total governmental activities expenses 13,790,690 15,105,610 17,034,808 18,012,501 Business-type activities:

Sewer Maintenance 927,904 963,029 900,170 862,198
Total business-type activities expenses 927,904 963,029 900,170 862,198 Total primary government expenses 14,718,594 $ $ 16,068,639 $ 17,934,978 $ 18,874,699 Program Revenue
Governmental activities:

Charges for services:

General Government 435,660 $ $ 507,302 $ 284,416 $ 289,146 Public Safety 459,251 319,773 496,926 704,424
Public Works - 3,945 - 5,462
Recreation/Senior Services 272,093 202,313 188,577 180,884 Community Development 674,198 1,060,915 986,792 1,297,749 Operating Grants and Contributions 1,734,036 1,818,607 649,068 812,396 Capital Grants and Contributions 2,333,169 2,413,878 2,755,890 4,189,959 Total governmental activities program revenues 5,908,407 6, 5, 322,788 7, 365,614 480,020 Business-type activities:

Charges for services: 1,325,685 1,323,874 1,302,664 1,325,479 Total business-type activities program revenues 1,325,685 1,323,874 1,302,664 1,325,479 Total primary government program revenues 7,234,092 $ $ 7,646,662 $ 6,668,278 $ 8,805,499 City of La Puente, California
Changes in Net Position
Last Ten Fiscal Years
Fiscal Year
103
2019 2020 2021 2022 2023 2024
$ 2,614,669 $ 2,716,718 $ 3,102,274 $ 1,332,903 $ 4,207,043 $ 3,929,066 7,210,847 7,714,703 8,117,393 9,408,249 9,716,603 10,806,253 2,482,313 2,438,985 5,086,569 2,215,979 3,950,448 3,690,283 2,056,944 2,159,441 2,130,122 2,504,741 4,269,848 3,966,820 3,288,029 3,790,988 4,292,118 4,904,341 8,077,736 8,855,236 19,021 153,881 298,426 553,899 528,814 507,183
17,671,823 18,974,716 23,026,902 20,920,112 30,750,492 31,754,841 855,985 804,470 1,525,210 849,464 1,010,037 770,895
855,985 804,470 1,525,210 849,464 1,010,037 770,895
$ 18,527,808 $ 19,779,186 $ 24,552,112 $ 21,769,576 $ 31,760,529 $ 32,525,736 $ 234,071 $ 285,480 $ 236,290 $ 187,548 $ 199,444 $ 220,057 459,802 439,926 353,068 543,266 639,619 811,013
27,686 16,589 136,967 18,283 58,951 24,132
201,109 - 125,342 52,926 181,058 239,760
1, 1,432,878 1, 485,737 1, 186,903 1, 160,960 2, 425,281 229,902 623,826 1, 743,530 3, 418,905 8, 117,742 1, 256,074 274,169 4,190,243 5,360,957 6,127,848 10,241,303 9,900,343 8,141,747 8, 7,169,615 9, 577,939 15, 339,603 20, 322,028 12, 660,770 940,780 1,519,628 1,394,987 1,413,471 1,323,815 1,349,215 1,479,956 1,519,628 1,394,987 1,413,471 1,323,815 1,349,215 1,479,956 $ 8,689,243 $ 9,972,926 $ 10,753,074 $ 16,645,843 $ 22,009,985 $ 14,420,736 Fiscal Year
104
2015 2016 2017 2018
Net (Expense)/Revenue
Government activities $ (8,782,822) $ (11,669,194) $ (10,532,481) $ (10,502,208) Business-type activities 360,845 402,494 463,281 663,643 Total primary government net expense (8,421,977) $ $ (11,266,700) $ (10,069,200) $ (9,838,565) General Revenues and Other Changes in Net Position
Governmental activities:

Taxes:

Property Taxes $ 4,996,279 $ 5,336,924 $ 5,960,936 $ 6,681,270 Franchise Taxes 974,152 888,514 941,026 1,023,365
Sales Taxes 2,040,668 2,593,802 3,060,517 3,150,107
Property Transfer Tax 84,006 53,669 75,968 86,091
Transient Occupancy Taxes 207,306 227,690 240,696 238,611 Business License Taxes 91,025 98,671 119,792 120,357
In-Lieu Sales Tax 612,837 616,383 - -
Total taxes 8,975,936 9,845,990 10,398,935 11,299,801
Intergovernmental - - - -
Investment Income 423,177 569,168 260,984 246,179
Miscellaneous Revenues 284,213 493,306 82,063 43,880
Transfers - - - -
Total Governmental activities 9,683,326 10,908,464 10,741,982 11,589,860 Special Item - Distribution from Los Angeles
County for Lighting Maintenance District - - - 9,484,683 Business-type activities:

Total business-type activities 39,410 39,383 59,857 70,912 Total primary government 9,722,736 $ $ 10,947,847 $ 10,801,839 $ 21,145,455 Change in Net Position
Governmental activities 900,504 $ ( $ 760,730) $ 10, 209,501 $ 572,335 Business-type activities 400,255 441,877 523,138 734,555 Prior Period Adjustments 9,572,732 - (1,063,736) (2,127,049) Total primary government 10,873,491 $ $ (1,382,589) $ 732,639 $ 9,179,841 Source: Statement of Activities
City of La Puente, California
Changes in Net Position (Continued)
Last Ten Fiscal Years
Fiscal Year
105
2019 2020 2021 2022 2023 2024
$ (10,502,208) $ (10,396,777) $ (13,687,299) $ (5,598,084) $ (10,089,722) $ (18,814,061) 663,643 590,517 (111,739) 474,351 339,178 709,061
$ (9,838,565) $ (9,806,260) $ (13,799,038) $ (5,123,733) $ (9,750,544) $ (18,105,000) $ 7, 7,014,532 $ 7, 391,137 $ 8, 756,848 $ 8, 081,850 $ 8, 587,483 $ 962,301 1, 1,024,742 1, 000,525 1, 059,799 1, 113,913 1, 230,870 234,104 5, 4,082,950 7, 928,799 7, 065,541 7, 452,307 6, 016,290 885,081 63,652 66,951 70,989 68,608 101,229 70,184
240,783 217,209 205,661 282,519 273,649 275,228
144,822 146,475 149,476 173,166 168,172 160,579
- - - - - -
12,574,780 14,747,797 16,308,314 17,204,984 17,345,072 17,587,477 - - - - - -
1, 943,308 009,858 577,290 (1,472,969) (49,336) 1,854,273 308,981 155,699 158,607 39,954 125,968 148,964
- - - 635,839 - -
13,827,069 15,913,354 17,044,211 16,407,808 17,421,704 19,590,714 - - - - - -
94,030 94,654 48,969 (617,159) 23,321 44,279
$ 13,921,099 $ 16,008,008 $ 17,093,180 $ 15,790,649 $ 17,445,025 $ 19,634,993 $ 5, 3,324,861 $ 3, 516,577 $ 10, 356,912 $ 7, 809,724 $ 331,982 $ 776,653 757,673 (62, 685,171 ( 770) 142,808) 362,499 753,340
- - - - - 163,323
$ 4,082,534 $ 6,201,748 $ 3,294,142 $ 10,666,916 $ 7,694,481 $ 1,693,316 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
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 2024 8,962,301 6,885,081 1,234,104 70,184 275,228 160,579 - 17,587,477 Source: Statement of Activities
City of La Puente, California
Governmental Activities Tax Revenues by Source
Last Ten Fiscal Years
107
2015 2016 2017 2018
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 12,741,849 $ 11,813,032 $ 12,260,207 $ 11,374,648 $ Restricted - - - -
Unrestricted:

Unassigned
General Fund 5,317,486 7,906,933 7,191,875 7,997,394
Total Fund Balances 18,059,335 $ $ 19,719,965 $ 19,452,082 $ 19,372,042 All other governmental funds
Nonspendable - $ - $ - $ - $
Restricted 4,025,952 3,834,966 3,845,909 7,008,355
Unrestricted:

Unassigned (132,247) (399,754) (2,107) (65,750)
3,893,705 $ $ 3,435,212 $ 3,843,802 $ 6,942,605
Source: Balance Sheets - Governmental Funds
Note: The City implemented GASB
Statement No. 54, Fund Balance
Fiscal Year
City of La Puente, California
Fund Balances of Governmental Funds
Last Ten Fiscal Years
108
2019 2020 2021 2022 2023 2024
$ - $ - $ - $ - $ - $ -
- - - - - -
$ - - $ - $ - $ - $ - $
$ - - $ - $ - $ - $ - $
- - - - - -
- - - - - -
- - - - - -
$ - - $ - $ - $ - $ - $
$ 10,788,035 11,480,704 $ 10,447,055 $ 10,162,906 $ 9,869,709 $ 9,421,945 $ - - - - - -
9,772,265 14,055,671 16,431,295 15,915,585 20,796,132 20,369,574 $ 21,252,969 $ 24,843,706 $ 26,878,350 $ 26,078,491 $ 30,665,841 $ 29,791,519 $ 10,058 - $ 9,737 $ 10,703 $ 18,421 $ 23,968 $
16,200,511 8,323,281 13,416,579 12,036,237 12,318,131 8,398,952 (4,976) (678,077) (93,053) (4,425,755) (1,935,598) (2,551,477) $ 8,318,305 $ 15,532,492 $ 13,333,263 $ 7,621,185 $ 10,400,954 $ 5,871,443 Fiscal Year
109
2014 2016 2017 2018
Revenues:

Taxes $ 8,427,404 $ 9,747,319 $ 10,346,934 $ 11,234,442 Licenses and Permits 489,130 637,990 654,710 968,625
Intergovernmental 4,577,580 4,369,861 3,476,390 4,979,909 Charges for Services 933,451 1,108,498 938,295 1,125,664 Fines and Forfeitures 339,929 390,778 355,900 334,811
Investment Income 225,279 215,115 (40,600) (42,381)
Other revenue 95,209 493,306 71,899 27,633
Total revenues $ 15,087,982 $ 16,962,867 $ 15,803,528 $ 18,628,703 Expenditures:

General Government 3,406,585 1, 2, 719,259 2, 149,723 388,937 Public Safety 5, 5,000,763 6, 845,736 7, 110,053 039,317 Public Works 1,625,091 1, 1, 128,999 1, 223,303 350,238 Recreation/Senior Services 958,390 1, 1, 488,370 1, 278,994 207,305 Community Development 2,488,043 2,011,353 2,464,330 3,277,699 Capital Outlay 3, 2,138,224 2, 089,542 2, 737,027 672,579 Debt Service:

Interest & Fiscal Charges 158,195 254,320 37,281 346,640 Principal 1,055,000 625,000 7, 620,000 204,097
Cost of Issuance - - - -
Total expenditures 16,830,291 16,162,579 16,930,070 25,177,453 Excess of revenues
over (under) expenditures (1,742,309) 800,288 (1,126,542) (6,548,750) Other Financing Sources (Uses)
Debt Issuance - - - -
Loan Proceeds - 421,574 1,267,249 82,830
Premium on Bonds - - - -
Transfers In 697,503 2,862 133,727 331,841
Transfers Out (697,503) (2,862) (133,727) (331,841)
Total Other Financing
Sources (Uses) - 1, 421,574 82,830 267,249
Special / Extraordinary Items
Distribution from LA County for LLMD - - - 9,484,683
Total Special / Extraordinary Items - - - 9,484,683
Net change in fund balances $ (1,742,309) $ 1,221,862 $ 140,707 $ 3,018,763 Debt service as a percentage of noncapital
expenditures 8.31% 6.13% 6.55% 30.98%
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
2019 2020 2021 2022 2023 2024
$ 12,487,322 $ 14,659,701 $ 16,218,138 $ 17,091,807 $ 17,240,101 $ 17,491,738 917,616 845,245 860,542 735,741 968,739 1,138,897
4,885,384 5,473,867 7,420,586 9,098,679 20,672,218 8,855,248 1,135,489 1,258,641 747,198 814,512 1,004,804 1,656,675 351,735 300,067 253,437 422,109 530,934 668,072
685,509 819,480 270,485 (1,834,314) (276,323) 1,595,285 283,856 155,776 87,404 34,090 108,973 145,560
$ 20,746,911 $ 23,512,777 $ 25,857,790 $ 26,362,624 $ 40,249,446 $ 31,551,475 2, 2,582,672 10, 523,190 2,914,249 840,427 2, 3, 892,859 202,935 7, 7,210,847 8, 714,703 9, 117,393 9, 408,249 10, 716,603 599,718 1, 1,415,086 1, 771,627 2, 998,352 2, 013,832 2, 156,831 205,381 1, 1,266,993 1, 414,574 1, 386,410 1, 587,332 2, 903,282 163,812 3, 3,247,896 4, 445,500 5, 261,951 7, 648,563 8, 466,550 583,532 2, 1,588,158 6, 956,929 13, 761,328 7,161,815 738,685 9, 587,342 19,021 134,262 321,676 482,503 564,150 534,484
189,721 413,591 313,752 692,586 1, 731,176 086,076
- 143,849 230,965 - 47,418 -
17,520,394 20,518,225 34,232,254 36,533,417 32,593,266 37,963,280 3,226,517 2,994,552 (8,374,464) (10,170,793) 7,656,180 (6,411,805) 7, - 8, 380,000 3, 517,708 - 758,856 1, 032,676
- 30,110 - - - -
- - 430,372 - - -
321,604 628,647 1, 910,821 6, 327,101 1, 787,044 657,871 (321,604) (628,647) (1,218,650) (1,427,101) (7,076,105) (1,845,898) 7, 30,110 8, 810,372 3, 209,879 658,856 (289,061) 844,649 - - - - - -
- - - - - -
$ 3,256,627 $ 10,804,924 $ (164,585) $ (6,511,937) $ 7,367,119 $ (5,567,156)

1.30% 2.83% 2.01% 3.66% 6.55% 5.17%
Fiscal Year
111
Total Taxable
Fiscal Less: Assessed Total Direct
Year Residential Commercial Industrial Other Tax Exempt Value Tax Rate 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% 2024 2,555,085,464 414,397,887 36,987,167 100, (8,383,449) 991,979 3,107,462,497 0.10098% Source: HdL, Coren & Cone; L.A. County Assessor 2023/24 Combined Tax Rolls Assessed Values
City of La Puente, California
Assessed Value of Taxable Property by Use
Last Ten Fiscal Years
112
Agency 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 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 0.11539 0.15770 0.16781 0.17443 0.16349 0.14196 0.14705 0.13911 0.13876 0.17596 Hacienda-La Puente Unified 0.06432 0.06394 0.06600 0.10531 0.10706 0.08252 0.08261 0.08511 0.08491 0.10215 Metropolitan Water District 0.00350 0.00350 0.00350 0.00035 0.00350 0.00350 0.00350 0.00350 0.00350 0.00350 Mt. San Antonio College 0.02129 0.02154 0.02400 0.02371 0.02435 0.04781 0.04459 0.04608 0.04267 0.03806 Rowland Heights Unified 0.14313 0.12426 0.10939 0.11841 0.11861 0.10760 0.10905 0.00000 0.00000 0.00000 Rowland Unified 0.00000 0.00000 0.01505 0.00000 0.00000 0.00000 0.00000 0.11128 0.10909 0.11623 West Covina Unified 0.05412 0.04205 0.04914 0.09514 0.09795 0.08192 0.09980 0.07968 0.09317 0.06328 Total Direct & Overlapping² Tax Rates 1.40175 1.41299 1.43489 1.52050 1.51496 1.46531 1.48659 1.46475 1.47210 1.49918 City's Share of 1% Levy Per Prop 13³ 0.06582 0.06582 0.06582 0.10072 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 0.06491 0.06498 0.10187 0.10117 0.10223 0.10249 0.10107 0.10105 0.10098 n/a - not applicable
City of La Puente, California
Property Tax Rates
Direct and Overlapping Governments
Last Ten Fiscal Years
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
2014/15 - 2023/24 Tax Rate Table
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 1.65% 1 $ 43,461,977 1 1.47% 13925 E Amar Rd LLC - - - 39,671,469 2 1.35%
Group X Rosemead Properties LP 22,237,492 1.21% 2 26,191,709 3 0.89% Camellia 19 LP - - - 25,458,081 4 0.86%
La Puente 104 LLC - - - 22,490,919 5 0.76%
Laurala Limited 11,307,754 7 0.61% 19,603,732 6 0.66%
Sunny Garden Apartments 2 LP - - - 18,816,094 7 0.64%
Haeri Hacienda Plaza LLC 15,527,099 3 0.84% 18,294,975 8 0.62% PI Properties No 32 LLC 10,942,543 9 0.60% 14,775,190 9 0.50% Walnut Apartments 11,098,076 8 0.60% 13,064,345 10 0.44% PJB Sunkist LP 13,154,694 4 0.71% - - -
Villa Las Brisas LLC 12,286,660 5 0.67% - - -
Jasmine Real Estate Investments LLC 11,976,725 6 0.65% - - - Wind Chime Properties LP 10,741,642 0.58% 10 - - -
Top Ten Total $ 149,670,685 8.13% $ 241,828,491 8.20%
City Total
Source: HdL Coren & Cone
2014/15 2023/24
City of La Puente, California
Principal Property Taxpayers
Current Year and Ten Years Ago
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 2015 1,152,928 1,072,238 93.0% - 1, 93.0% 072,238
2016 1,208,236 1,124,478 93.1% - 1, 93.1% 124,478
2017 1,282,303 1,181,417 92.1% - 1, 92.1% 181,417
2018 1,353,426 1,236,795 91.4% - 1, 91.4% 236,795
2019 1,402,596 1,301,556 92.8% - 1, 92.8% 301,556
2020 1,497,216 1,380,946 92.2% - 1, 92.2% 380,946
2021 1,575,043 1,449,368 92.0% - 1, 92.0% 449,368
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%
2024 1,775,627 1,655,422 93.2% 1, - 9 655,422 3.2%
(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 Software Total Percentage
Fiscal Allocation Obligation Revenue Lease Leases Subscription Sewer Primary of Personal Per Year Bond(1) Bonds Bonds Agreement Payable Liability Loan Bonds Government Income(2) Capita (2) 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 - 117,423 1, - 276,689 7,335,000 27,379,650 3.05% 728 2023 - 11,505,789 6,557,419 - 512,613 1, - 227,615 6,970,000 26,773,436 3.24% 717 2024 - 10,990,939 6,239,768 - 799,764 1, 805,686 178,379 6,595,000 26,609,536 3.62% 710 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 7,417,083 $ 100% 7,417,083 $ 2022 SERIES A CERTIFICATES OF PARTICIPATION 3,573,856 100% 3,573,856 CITY OF INDUSTRY LOAN AGREEMENT 1,178,379 100% 1,178,379 LEASES PAYABLE 799,764 100% 799,764
SOFTWARE SUBSCRIPTION LIABILITY 805,686 100% 805,686
Total Direct Debt 13,774,768
Overlapping Tax & Assessment Debt:

METROPOLITAN WATER DISTRICT 18,210,000 $ 0.077% $ 14,022 MT. SAN ANTONIO CCD 867,726,492 2.568 22,283,216
BASSETT USD 74,170,729 7.927 5,879,514
HACIENDA-LA PUENTE USD 97,865,000 13.687 13,394,783
ROWLAND USD 197,865,036 1.593 3,151,990
WEST COVINA USD 141,915,000 0.867 1,230,403
Total Overlapping Tax & Assessment Debt 45,953,928
Overlapping General Fund Debt:

LA COUNTY GENERAL FUND OBLIGATIONS 2,479,229,730 0.1490% $ 3,694,052 LA COUNTY SUPERINTENDENT OF SCHOOLS COPs 2,857,300 0.149 4,257 HACIENDA-LA PUENTE USD COPs 55,998,466 13.687 7,664,510 WEST COVINA USD GENERAL FUND OBLIGATIONS 13,963,000 0.867 121,059 11,483,878
Overlapping Tax & Assessment Debt (Successor Agency) 2,710,000 100% 2,710,000 Total Overlapping Debt 60,147,806
Combined Total Direct and Overlapping Debt $ 73,922,574 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
2023/24 Assessed Valuation: $2,993,349,961 after deducting $269,460,411 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 0.37%

1.54%
City of La Puente, California
Computation of Direct and Overlapping Bonded Debt
June 30, 2024

2.38%
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
2015 2016 2017 2018 2019
Debt Limit $ 282,421,686 $ 297,024,247 $ 316,031,828 $ 330,641,980 $ 347,087,355 Total net debt
applicable to limit - - - - -
Legal debt margin 282,421,686 $ $ 297,024,247 $ 316,031,828 $ 330,641,980 $ 347,087,355 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 City of La Puente, California
Legal Debt Margin Information
Last Ten Fiscal Years
Fiscal Year
118
2020 2021 2022 2023 2024
$ 364,360,251 $ 381,991,670 $ 399,418,508 $ 440,184,447 467,376,892 - 10,888,092 14,930,172 14,186,370 13,355,410
$ 364,360,251 $ 371,103,578 $ 384,488,336 $ 425,998,077 $ 454,021,482 0% 3% 4% 3% 3%
Legal Debt Margin Calculation for Fiscal Year 2024
Assessed value $ 3,107,462,497
Add back: exempt real property 8,383,449
Total assessed value 3,115,845,946
Debt limit (15% of total assessed value) 467,376,892
Debt applicable to limit:

General obligation bonds 13,355,410
Less: Amount set aside for repayment of
general obligation debt -
Total net debt applicable to limit 13,355,410
Legal debt margin $ 454,021,482
Fiscal Year
119
Personal Per
Income Capita
Calendar (thousands of Personal School Unemployment
Year Population dollars) Income Enrollment(1) Rate Median Age 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
2024 37,459 962,938 25,706 15,767 4.7% 36.4
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 3.24% 1 120 3.26%
Bodega Latina Corp 3 80 2.16% 3 80 2.17%
Alert Insulation 2 88 2.38% 2 88 2.39%
Walmart Stores Inc. 3 80 2.16% 3 80 2.17%
Food 4 Less #369 4 75 2.03% 4 75 2.04%
Mc Donalds's - - 0.00% - - 0.00%
Big Saver Foods #12 5 60 1.62% 5 60 1.63%
Ed Butts Ford 6 59 1.59% 6 59 1.60%
Ross Store 7 49 1.32% 7 50 1.36%
El Sushi Loco - - 0.00% 8 43 1.17%
In And Out Burger 9 40 1.08% 9 40 1.09%
Merritt's Hardware 8 43 1.16% 8 43 1.17%
Carpet King - - 0.00% - - 0.00%
CVS Pharmacy #9629 - 35 0.95% 10 35 0.95%
Jack in the Box - 32 0.86% - 32 0.87%
99 Cents Only Stores - 32 0.86% - 32 0.87%
Burger King 10 37 1.00% - 18 0.49%
Walgreens #05702 - - 0.00% - - 0.00%
Big Lots - - 0.00% - - 0.00%
Others 2,870 77.57% 2,826 - 76.77% -
Total 3,700 100.00% 3,681 100.00%
% of Total % of Total
# of City # of City
Employer Emp. Rank # Employment Emp. Rank # Employment
Northgate Supermarket 112 1 3.01% 112 2 2.85%
Bodega Latina Corp 111 2 2.99% 126 1 3.21%
CAD Works, Inc. - - 0.00% - - 0.00%
Alert Insulation 88 3 2.37% 88 3 2.24%
Walmart Stores Inc. 80 4 2.15% 80 4 2.04%
Food 4 Less #369 75 5 2.02% 75 5 1.91%
Mc Donald's 68 6 1.83% 68 6 1.73%
Ross Store 46 9 1.24% 46 9 1.17%
Burlington - - 0.00% - - 0.00%
Merritt's Hardware 41 10 1.10% 41 10 1.04%
Big Saver Foods #12 60 8 1.61% 60 8 1.53%
Carpet King 36 - 0.97% 36 0.92% -
El Sushi Loco 26 - 0.70% 26 0.66% -
In and Out Burger 40 - 1.08% 40 1.02% -
Ed Butts Ford 63 7 1.70% 63 7 1.60%
CVS Pharmacy #9629 35 - 0.94% 35 0.89% -
Jack in the Box 34 - 0.91% 34 0.86% -
Taco Bell - - 0.00% 32 0.81% -
99cents Only Stores 30 - 0.81% 30 0.76% -
R Ranch Market #11 - - 0.00% 30 0.76% -
Burger King 18 - 0.48% 18 0.46% -
Others 2,753 - 74.09% 2,891 0.00%
Total 100.00% 3,931 3,716 26.46%
Source: City Finance Department - Business License Division City of La Puente, California
Principal Employers
Last Ten Fiscal Years
2015 2016
2020 2021
121
% of Total % of Total % of Total
# of City # of City # of City
Emp. Rank # Employment Emp. Rank # Employment Emp. Rank # Employment 1 120 4.05% 120 3.01% 1 118 2.90% 1
2 101 3.41% 111 0.00% 2 111 2.72% 2
3 88 2.97% 88 2.79% 3 88 2.16% 3
4 80 2.70% 80 2.21% 4 80 1.96% 4
5 75 2.53% 75 2.01% 5 75 1.84% 5
- - 0.00% - - 0.00% 68 1.67% 6
6 60 2.03% 60 0.00% 6 60 1.47% 7
7 59 1.99% 59 1.03% 7 59 1.45% 8
8 44 1.49% 44 1.10% 8 46 1.13% 9
9 43 1.45% 43 1.00% 9 10 43 1.06%
- 40 1.35% 40 1.51% - 40 0.98% -
10 41 1.38% 10 41 1.48% 41 1.01% -
- - 0.00% - - 0.00% 36 0.88% -
- 35 1.18% 35 0.88% - 35 0.86% -
32 1.08% 34 - - 0.85% 34 - 0.83%
- 32 1.08% 36 - 0.90% 32 - 0.79%
- 18 0.61% - - 0.00% 18 - 0.44%
- - 0.00% 32 0.80% - - - 0.00%
- - 0.00% 18 0.45% - - - 0.00%
2,094 70.70% 3,067 - 77.00% - 3,091 75.85% -
2,962 100.00% 3,983 100.00% 4,075 100.00%
% of Total % of Total % of Total
# of City # of City # of City
Emp. Rank # Employment Emp. Rank # Employment Emp. Rank # Employment 112 1 2.00% 112 1 2.23% 112 1 2.57%
111 2 1.98% 111 2 2.21% 111 2 2.54%
100 3 1.79% 100 3 2.00% 100 3 2.29%
88 4 1.57% 88 4 1.76% 88 4 2.02%
80 5 1.43% 80 5 1.60% 80 5 1.83%
75 6 1.34% 75 6 1.50% 75 6 1.72%
68 7 1.22% 75 6 1.50% 75 7 1.72%
40 9 0.71% 40 8 0.80% 67 8 1.53%
- - 0.00% - - 0.00% 49 9 1.12%
43 8 0.77% 43 7 0.86% 43 10 0.98%
40 0.71% - 40 8 0.80% - - 0.00%
0 0.00% 36 9 0.72% - - - 0.00%
33 0.59% - 26 10 0.52% - - 0.00%
40 10 0.71% - - 0.00% - - 0.00%
0 0.00% - - - 0.00% - - 0.00%
0 0.00% - - - 0.00% - - 0.00%
0 0.00% - - - 0.00% - - 0.00%
0 0.00% - - - 0.00% - - 0.00%
32 0.57% - - - 0.00% - - 0.00%
0 0.00% - - - 0.00% - - 0.00%
0 0.00% - - - 0.00% - - 0.00%
4,733 84.59% 4,186 - - 83.52% - 3,566 81.68%
100.00% 5,012 5,595 100.00% 4,366 100.00%
2019
2024
2018
2022 2023
2017
122
Program/Function 2015 2016 2017 2018 2019
General Government
City Council 5.00 5.00 5.00 5.00 5.00
City Clerk/Election Services 2.00 1.00 1.00 1.00 1.50
Human Resources/Risk Management n/a n/a n/a 0.50 0.50
Administration 2.00 2.00 2.00 2.50 3.00
Financial Services 7.50 6.50 6.50 5.00 5.50
Public Safety
Code Enforcement Contract - 6.50 7.00 10.50
Animal Services - - - - 6.50
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 4.00 5.50 5.50 6.00 10.50
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 2.00 3.00 3.00 3.00 3.00
Housing/Community Services 1.00 1.00 1.00 1.00 1.00
Community Preservation Services Contract Contract 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 6.50 6.50 6.50 8.00 10.50
Youth Activity Learning Center 1.00 1.00 1.00 1.00 5.00 Nature Education Center n/a n/a n/a n/a n/a
Senior Services 1.00 1.00 1.00 1.00 2.00
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

32.00 32.50 39.00 41.00 63.50
Source: City of La Puente
Fiscal Year
City of La Puente, California
Full-time Equivalent City Government Employees by Program/Function As of June 30, 2024
123
2020 2021 2022 2023 2024

5.00 5.00 5.00 5.00 5.00

1.50 1.50 2.00 2.00 2.00

0.50 0.50 0.50 0.50 0.50

3.50 3.00 3.00 2.50 3.00

5.00 5.50 5.50 5.50 6.00

12.00 15.50 14.00 21.50 22.00

3.50 5.50 2.50 2.00 4.50
Contract Contract Contract Contract Contract
n/a n/a n/a n/a n/a
Contract Contract Contract Contract Contract

11.50 17.00 14.00 18.50 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

4.00 4.00 4.00 4.00 4.00

1.00 1.00 1.00 1.00 1.00
Contract Contract Contract Contract Contract
n/a n/a 11.50 15.00 20.50
n/a n/a n/a n/a n/a

10.50 9.50 10.50 10.50 13.00

5.50 5.50 6.50 6.50 8.00
n/a n/a n/a n/a n/a

2.00 1.50 2.50 1.50 2.00
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

65.50 75.00 82.50 96.00 110.00
Fiscal Year
124
Function/Program 2015 2016 2017 2018
Public Safety*
Physical arrests 1,458 1,385 1,952 1,686
Parking Citations Issued 5,382 8,852 6,809 8,409
Building and Safety
Construction Valuation 6,775,623 10,441,752 11,581,386 15,264,131 Building Permits Issued 317 467 386 516
Highways and Streets*
Street resurfacing (Square Feet) 240,180 61,550 187,600 374,150 Sanitation*
Refuse collected (tons/day) 60.12 64.90 58.02 57.47
Recyclables collected (tons/day) 4.53 4.77 4.96 4.85
Green waste collected (tons/day) 9.64 8.98 9.81 7.95
Community Services
Special Event-Main Street Run 3,825 4,283 3,750 n/a
(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
* The City of La Puente is a contract city for
Public Safety, Fire Prevention, Public
Works, Water and Waste Services.

Fiscal Year
City of La Puente, California
Operating Indicators by Function
As of June 30, 2024
125
2019 2020 2021 2022 2023 2024
1,488 1,427 2,648 817 874 568
6,183 8,065 6,737 12,188 13,317 15,217
17,475,132 16,443,171 28,045,379 27,305,597 13,186,840 24,219,268 330 452 1,165 1,576 635 1,248
- 211,200 170,000 1, - 432,700 1, 052,613

61.03 69.00 63.32 64.85 64.57 33.78

3.00 14.00 5.09 3.49 3.99 3.85

9.05 8.00 9.15 7.05 8.46 6.61
n/a n/a n/a n/a n/a n/a
108 94 120 160 253 274
Fiscal Year
126
Fiscal Year
Function/Program 2023-2024
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, 2024
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 the procedures enumerated below to the accompanying Appropriations Limit worksheet of the City of La Puente, for the year ended June 30, 2024. 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. This report may not be suitable for any other purpose. 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.

ATTACHMENT B
2 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.

We are required to be independent of the City and to meet our ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

This report is intended solely for the Information and 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 19, 2024
3 CITY OF LA PUENTE

APPROPRIATIONS LIMIT COMPUTATION
2023 – 2024
2023 - 2024
Change in Per Capita Personal Income 4.44%
Population Change
City of La Puente Population Growth -0.63%
Change in Per Capita Personal Income
Converted to a Ratio 1.0444
Population Growth Converted to a Ratio 0.9937
Calculation of Growth Factor 1.0378
2022 - 2023 Appropriations Limit 117,317,499 $
2023 - 2024 Appropriations Limit
($117,317,499 x 1.0378) 121,752,100 $
December 19, 2024
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, 2024. 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 28, 2024. 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.

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 19, 2024.

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,
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, 2024, 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 19, 2024.

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

1 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 19, 2024
2 AGENDA ITEM NO. D-5
To: Mayor and City Council For meeting of: January 28, 2025 From: Bob Lindsey, City Manager
By: John Di Mario, Development Services Director
Abraham Tellez, Planning Manager
SUBJECT: CONSIDERATION OF A MEMORANDUM OF UNDERSTANDING

BETWEEN THE CITY OF LA PUENTE AND THE SOUTHERN CALIFORNIA

ASSOCIATION OF GOVERNMENTS FOR THE SUSTAINABLE
COMMUNITIES PROGRAM – CIVIC ENGAGEMENT, EQUITY, AND

ENVIRONMENTAL JUSTICE (SCP-CEEEJ) FOR MIXED-USE

DEVELOPMENT FOR UNDERUTILIZED COMMERCIAL ZONES IN LA
PUENTE

BACKGROUND
In June 2023 the City submitted a competitive grant application to the Southern California Association of Governments ("SCAG") for a project involving General Plan and Zoning Code amendments for the City that will allow for mixed-use development in underutilized commercial zones. The Southern California Association of Governments is a Joint Powers Agency and a federally designated Metropolitan Planning Organization ("MPO") for Southern California. As an MPO, SCAG is primarily responsible for the development of a Regional Transportation Plan/Sustainable Communities Strategy for the counties of Imperial, Los Angeles, Orange, San Bernardino, Riverside, and Ventura.

SCAG is a recipient of $246 million of the State’s $300 million in Regional Early Action Planning 2.0 (“REAP 2.0”) funds. In October 2023 SCAG approved allocation of over $4 million to support projects across Southern California that advance multimodal communities and sustainable housing and land use strategies. The City’s submitted application was one of eleven (11) projects in the SCAG region selected to be awarded funding in the amount of $427,350 without the need for a local match.

However, on January 26, 2024, the City’s Planning Division received notification from SCAG’s REAP 2.0 Team that any projects funded through REAP 2.0, including the City’s mixed-use project funded through SCAG’s Sustainable Communities Program – Civic Engagement, Equity, and Environmental Justice (“SCP-CEEEJ”) will be paused due to anticipated funding cuts as a result of the Governor’s 2024-2025 State Budget Proposal. By July 2024, the City received follow-up notification that despite budget cuts, the City’s project would continue to be awarded.

City staff, the City’s community-based organization partner for the application (ActiveSGV), and SCAG’s REAP 2.0 Team met on August 14, 2024 to re-confirm commitments for the project and kick-off the project.

City of La Puente

AGENDA REPORT
Agenda Report: SCAG MOU for Mixed-Use Development For Underutilized Commercial Zones For Meeting of: January 28, 2025