Agenda packet — Lathrop City Council, January 12, 2026 (part 1 of 2)

January 12, 2026 – Regular Meeting Agenda – 7:00 p.m.

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January 12, 2026 – City Council Regular Meeting – 7:00 p.m.

City Council Chamber
390 Towne Centre Drive
Lathrop, California
(209) 941-7200
www.ci.lathrop.ca.us
City Council
Paul Akinjo, Mayor
Jennifer Torres-O’Callaghan, Vice Mayor
Minnie Diallo, Councilmember
Stephen Dresser, Councilmember
Diane Lazard, Councilmember
City Staff
Stephen Salvatore, City Manager
Salvador Navarrete, City Attorney
Michael King, Assistant City Manager
Thomas Hedegard, Deputy City Manager
Stephen Sealy, Chief of Police
Teresa Vargas, Government Services
Director / City Clerk
Brad Taylor, City Engineer
Tony Fernandes, Information Systems Director
Cari James, Finance Director
Juliana Burns, Human Resources Director
Rick Caguiat, Community Development
Director
Todd Sebastian, Parks and Recreation
Director
General Order of Business

1. Preliminary
 Call to Order
 Closed Session
 Roll Call
 Invocation
 Pledge of Allegiance
 Announcements by Mayor/City Mgr.
 Informational Items
 Declaration of Conflict of Interest

2. Presentations

3. Citizen’s Forum

4. Consent Calendar

5. Scheduled Items
 Public Hearings
 Appeals
 Referrals and Reports from
Commissions and Committees
 All Other Staff Reports and/or Action
Items
 Study Sessions

6. Council Communications

7. Adjournment
Order of Discussion
Generally, the order of discussion after introduction
of an item by the Mayor will include comments and
information by staff followed by City Council
questions and inquiries. The applicant, or their
authorized representative, or interested residents,
may then speak on the item; each speaker may only
speak once to each item. At the close of public
discussion, the item will be considered by the City
Council and action taken.

Consent Calendar
Items on the Consent Calendar are considered
routine by the City Council and will be enacted by one
motion and one vote. There will be no separate
discussion of these items unless a Councilmember or
interested resident so requests, in which case the
item will be removed from the Consent Calendar and
considered separately.
1 January 12, 2026 Lathrop City Council Regular Meeting Agenda Page 1

IMPORTANT NOTICE REGARDING THIS MEETING
This public meeting will be conducted in person; all members of the City Council will attend in person. Members of the public are welcome in person. This meeting will also be available for public participation by teleconference via ZoomGov at the following link:
https://www.zoomgov.com/j/1616712426?pwd=h2InspYiE58xrpa1 nOfJPJMa49Gi5e.1
During the meeting, those joining ZoomGov, will be allowed to speak prior to the close of public comment on an item. If you are using this method, please “raise the hand” feature to inform the City Clerk (meeting host) you wish to speak on the matter. Please ensure your computer speaker and microphone are fully functional.

For audio / calling in only, dial: +1 (669) 254-5252 or +1 (669) 216-1590 o To request to speak (same as the “raise hand” feature) press *9 / When the City Clerk calls your name, press *6 to unmute.

Meeting Webinar ID: 161 671 2426 / Passcode: 265095
If you are not able to attend the meeting in person or virtually - Public comment / questions will be accepted by email to City Clerk Teresa Vargas at [email protected]. Please refer to the Agenda Item or Public Comment Matter, and the date of the City Council Meeting, in your written communication.

Questions or comments submitted by email must be submitted by 4:00 p.m., on the day of the meeting.

To address the City Council in person, please submit a purple card to the City Clerk indicating name and number of the item upon which a person wishes to speak.

Council Meetings are live-streamed (with Closed Captioning) on Comcast Cable Channel 97, and on the City Council Webpage: https://www.ci.lathrop.ca.us/citycouncil/page/live-stream Addressing the Council
Any person may speak once on any item under discussion by the City Council after receiving recognition by the Mayor. Purple speaker cards will be available prior to and during the meeting. To address the City Council, a card must be submitted to the City Clerk indicating the name, address and number of the item upon which a person wishes to speak. When addressing the City Council, please walk to the lectern located in front of the City Council.

State your name and address. To ensure all persons, have the opportunity to speak, a time limit will be set by the Mayor for each speaker (see instructions on speaker form). In the interest of time, each speaker may only speak once on each individual agenda item; please limit your comments to new material; do not repeat what a prior speaker has said. If you challenge the nature of a proposed action in court, you may be limited to raising only those issues you or someone else raised at the public hearing described in this notice, or in written correspondence delivered to the City Council at, or prior to, the public hearing. 2 January 12, 2026 Lathrop City Council Regular Meeting Agenda Page 2 Citizen’s Forum
Any person desiring to speak on a matter, which is not scheduled on this agenda, may do so under the Citizen’s Forum section. Please submit your purple speaker card to the City Clerk prior to the commencement of Citizen’s Forum or submit your request to speak via the “raise hand” feature in ZoomGov. Only those who have submitted speaker cards, or have expressed an interest in speaking, prior to the conclusion of Citizen’s Forum will be called upon to speak.

Please be aware the California Government Code prohibits the City Council from taking any immediate action on an item, which does not appear on the agenda, unless the item meets stringent statutory requirements. The Mayor will limit the length of your presentation (see instructions on speaker form) and each speaker may only speak once on this agenda item.

Please note, the Council Chamber has limited occupancy due to social distancing.

To leave a voice message for all Councilmembers simultaneously, dial (209) 941-7230. To send an e-mail for Councilmembers simultaneously email: [email protected]. This City Council Agenda and meeting materials can be accessed by computer or any smart device at: https://www.ci.lathrop.ca.us/meetings
General Information
For reports citing supplemental documents relating to specific agenda items, these are available for review in the City Clerk’s Office. This agenda was posted at the following locations: City Hall, Community Center, Generations Center, Senior Center, and the LathropManteca Fire District “J" Street and Somerston Parkway Offices. The meetings of the Lathrop City Council are broadcast on Lathrop Comcast Cable Television Channel 97 and live streamed on the City’s website.

Assistance will be provided to those requiring accommodations for disabilities in compliance with the Americans with Disabilities Act of 1990. Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility and/or accommodations to this meeting. [28 CFR 35.102-35.104 ADA Title II] Interested persons must request the accommodation at least 2 working days in advance of the meeting by contacting the City Clerk at (209) 941-7230. Information about the City or items scheduled on the agenda may be referred to:

Teresa Vargas, MMC
Government Services Director / City Clerk
390 Towne Centre Drive
Lathrop, CA 95330
Telephone: (209) 941-7230
3 January 12, 2026 Lathrop City Council Regular Meeting Agenda Page 3

CITY OF LATHROP

CITY COUNCIL REGULAR MEETING
MONDAY, JANUARY 12, 2026, 7:00 P.M.

CLOSED SESSION, 6:00 P.M.

COUNCIL CHAMBER, CITY HALL
390 Towne Centre Drive
Lathrop, CA 95330
AGENDA
PLEASE NOTE: There will be a Closed Session commencing at 6:00 p.m. The Regular Meeting will reconvene at 7:00 p.m., or immediately following the Closed Session, whichever is later.

1. PRELIMINARY

1.1 CALL TO ORDER

1.2 CLOSED SESSION

1.2.1 LIABILITY CLAIM: Pursuant to CA Government Code Section 54956.95
Claimant: Ippolito Caradonna
Agency Claimed Against: City of Lathrop

1.2.2 CONFERENCE WITH LABOR NEGOTIATOR: Pursuant to
Government Code Section 54957.6
 Agency Negotiator: Stephen J. Salvatore, City Manager Employee Organization: Service Employees International
Union (SEIU) Local 1021
 Agency Negotiator: Stephen J. Salvatore, City Manager Employee Organization: Lathrop Mid-Managers and
Confidential Employees Association (LMCEA)
 Agency Negotiator: Stephen J. Salvatore, City Manager Employee Organization: Lathrop Police Officers Association Employees Association (LPOA)
 Agency Negotiator: Stephen J. Salvatore, City Manager Unrepresented Sworn Classifications: Police Captain, Police Lieutenant
 Agency Negotiator: Stephen J. Salvatore, City Manager Unrepresented Classifications: Assistant City Manager,
Deputy City Manager, Government Services Director/City
Clerk, City Engineer, Information Systems Director,
Finance Director, Human Resources Director, Community
Development Director, Parks and Recreation Director,
Chief Building Official
4 January 12, 2026 Lathrop City Council Regular Meeting Agenda Page 4

RECONVENE

1.2.3 REPORT FROM CLOSED SESSION

1.3 ROLL CALL

1.4 INVOCATION

1.5 PLEDGE OF ALLEGIANCE

1.6 ANNOUNCEMENT(S) BY MAYOR / CITY MANAGER

1.7 INFORMATIONAL ITEM(S) - None

1.8 DECLARATION OF CONFLICT(S) OF INTEREST

2. PRESENTATIONS

2.1 INTRODUCTION OF THE 2026 POET LAUREATE AND READING OF POEM  Jose Garcia Martin

2.2 PRESENTATION FROM THE SAN JOAQUIN AREA FLOOD CONTROL

AGENCY REGARDING THE DRYLAND LEVEE EXTENSION PROJECT

3. CITIZEN’S FORUM
Any person desiring to speak on a matter which is not scheduled on this agenda may do so under Citizen’s Forum. Please submit a purple speaker card to the City Clerk prior to the commencement of Citizen’s Forum. Only those who have submitted speaker cards, or have expressed an interest in speaking, prior to the conclusion of Citizen’s Forum will be called upon to speak.

Please be aware the California Government Code prohibits the City Council from taking any immediate action on an item, which does not appear on the agenda, unless the item meets stringent statutory requirements. The City Council can, however, allow its members or staff to briefly (no more than five (5) minutes) respond to statements made, to ask questions for clarification, make a brief announcement or report on his or her own activities. (See California Government Code Section 54954.2(a)). Unless directed otherwise by City Council majority, all questions asked and not answered at the meeting will be responded to in writing within 10 business days. ALL PUBLIC

COMMENTS MUST BE MADE IN COMPLIANCE WITH THE LATHROP CITY COUNCIL HANDBOOK OF RULES AND PROCEDURES!
5 January 12, 2026 Lathrop City Council Regular Meeting Agenda Page 5

4. CONSENT CALENDAR
Items on the Consent Calendar are considered routine by the City Council and will be enacted by one motion and one vote. There will be no separate discussion of these items unless the Mayor, Councilmember, or citizen so requests, in which event the item will be removed from the Consent Calendar and considered separately.

4.1 WAIVING OF READING OF ORDINANCES AND RESOLUTIONS
Waive the Reading in Full of Ordinances and Resolutions on Agenda and Adopt by Reading of Title Only, Unless Otherwise Requested by the Mayor or a Councilmember

4.2 APPROVAL OF MINUTES
Approve Minutes for the Regular City Council Meeting of November 10, 2025

4.3 SECOND READING AND ADOPTION OF ORDINANCE 26-477 OF THE CITY COUNCIL OF THE CITY OF LATHROP TO AMEND SECTION 10.24.030 TO TITLE 10 (“VEHICLES AND TRAFFIC”) OF THE LATHROP MUNICIPAL

CODE TO DESIGNATE NO PARKING AREAS
Waive Full Reading and Adopt Ordinance 26-477 to Amend Section

10.24.030 to Title 10 (“Vehicles and Traffic”) of the Lathrop Municipal Code to Designate No Parking Areas

4.4 REVIEW OF THE CAPITAL FACILITY FEE FUNDS REPORT FOR FY 2024- 2025 AND THE FIVE-YEAR CFF FUND REPORT
Review of the Capital Facility Fee Funds Report for Fiscal Year 2024- 2025 and the Five-Year CFF Fund Report

4.5 ACCEPTANCE OF THE CITY OF LATHROP ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR) FOR THE FISCAL YEAR ENDING JUNE 30, 2025
Adopt Resolution to Accept the City of Lathrop Annual Comprehensive Financial Report (ACFR) for the Fiscal Year Ending June 30, 2025

4.6 APPROVE OUT OF STATE TRAVEL FOR THE MAYOR TO ATTEND THE U.S.

CONFERENCE OF MAYORS 94th WINTER MEETING
Adopt Resolution Authorizing Out of State Travel for the Mayor to Attend the U.S. Conference of Mayors 94th Winter Meeting in Washington, DC, January 27-30, 2026

4.7 APPROVE OUT OF STATE TRAVEL FOR THREE MEMBERS OF COUNCIL TO ATTEND THE 2026 NATIONAL LEAGUE OF CITIES CONGRESSIONAL

CITY CONFERENCE
Adopt Resolution Authorizing Out of State Travel for Three Members of Council to Attend the 2026 National League of Cities Congressional City Conference to Washington D.C., from March 14-18, 2026
6 January 12, 2026 Lathrop City Council Regular Meeting Agenda Page 6

4.8 APPROVE OUT OF STATE TRAVEL FOR THE ECONOMIC DEVELOPMENT

ADMINISTRATOR AND THE COMMUNITY DEVELOPMENT DIRECTOR TO ATTEND THE ICSC LAS VEGAS CONFERENCE IN MAY 2026, AND THE

ECONOMIC DEVELOPMENT ADMINISTRATOR TO ATTEND THE IAMC
SPRING FORUM IN LITTLE ROCK, ARKANSAS IN APRIL 2026
Adopt Resolution to Authorize Out of State Travel for the Economic Development Administrator and the Community Development Director to Attend and Represent the City of Lathrop at the ICSC Las Vegas Conference in Las Vegas, Nevada from May 18, 2026, to May 20, 2026, and the Economic Development Administrator to Attend the IAMC Spring 2026 Forum on April 18, 2026, to April 22, 2026

4.9 APPROVE OUT OF STATE TRAVEL FOR TWO CITY STAFF TO ATTEND THE TYLER CONNECT 2026 CONFERENCE
Adopt Resolution to Authorize Out of State Travel for the Accounting Manager and Utility and Revenue Services Manager to Attend the Tyler Connect 2026 Conference in Las Vegas, Nevada from April 7 – 10, 2026

4.10 ESTABLISH THE CITY OF LATHROP POLICE DEPARTMENT TOW

ROTATION PROGRAM AND AUTHORIZE CITY MANAGER TO CONTRACT

FOR SERVICES
Adopt Resolution to Establish the City of Lathrop Police Department Tow Rotation Service Policies and Associated Fees for Participation in the Lathrop Police Department Tow Rotation Program and Authorize the City Manager to Enter into Contracts for Tow Services with up to Five (5) Tow Service Providers

4.11 RATIFY EMERGENCY SERVICE CONTRACT WITH ADVANCED

INTEGRATION & CONTROLS TO PROVIDE TECHNICAL SERVICES AND

SUPPORT FOR CONTROL SYSTEMS HARDWARE AND SOFTWARE
Adopt Resolution to Ratify an Emergency Service Contract with Advanced Integration & Controls to Provide Technical Services and Support for Control Systems Hardware and Software

4.12 APPROVE CHANGE ORDER NO. 36 FOR LANDSCAPE MAINTENANCE

WITH DAVID SILVA, DBA SILVA LANDSCAPE TO ADD QUEIROLO PARK,

AND APPROVE THE ASSOCIATED BUDGET AMENDMENT
Adopt Resolution to Approve Contract Change Order No. 36 with David Silva, dba Silva Landscape to Add Queirolo Park, and Approve the Associated Budget Amendment

4.13 APPROVE A CONSTRUCTION CONTRACT WITH UNITED PAVEMENT MAINTENANCE, INC., FOR SPARTAN WAY TRAFFIC SAFETY
ENHANCEMENTS, CIP PS 26-20 AND APPROVE BUDGET AMENDMENT Adopt Resolution Approving a Construction Contract with United Pavement Maintenance, Inc., for Spartan Way Traffic Safety Enhancements, CIP PS 26-20 and Approve Budget Amendment 7 January 12, 2026 Lathrop City Council Regular Meeting Agenda Page 7

4.14 ACCEPT PUBLIC IMPROVEMENTS ASSOCIATED WITH EP NO. 21-83, LOCATED AT 17401 MANTHEY ROAD, FROM MANTHEY ROAD

INVESTMENTS, LLC
Adopt Resolution to Accept Public Improvements Associated with Encroachment Permit No. 21-83, Located at 17401 Manthey Road from Manthey Road Investments, LLC

4.15 ACCEPT PUBLIC IMPROVEMENTS ASSOCIATED WITH EP NO. 22-128, LOCATED AT 1500 E. MADRUGA ROAD, FROM CUNHA TRUCKING
Adopt Resolution to Accept Public Improvements Associated with Encroachment Permit No. 22-128, Located at 1500 E. Madruga Road, from Cunha Trucking

5. SCHEDULED ITEMS

5.1 PUBLIC HEARING (PUBLISHED NOTICE) TO CONSIDER AMENDMENTS TO CHAPTER 2.20 YOUTH ADVISORY COMMISSION OF THE LATHROP

MUNICIPAL CODE (LMC)
City Council to Consider the Following:

1. Hold a Public Hearing; and

2. First Reading and Introduction of an Ordinance to Amend the Lathrop Municipal Code (LMC) Section 2.20.020
“Membership”, Section 2.20.030 “Term of Office” and
Section 2.20.060 “Duties and Responsibilities”

5.2 REVIEW AND CONSIDER RED-LIGHT SAFETY CAMERAS AT THE

INTERSECTIONS OF RIVER ISLANDS PARKWAY & MCKEE BOULEVARD, LATHROP ROAD & 5TH STREET/WOODFIELD DRIVE, AND GOLDEN

VALLEY PARKWAY & SPARTAN WAY
Council to Consider Red-Light Safety Cameras at the Intersections of River Islands Parkway & McKee Boulevard, Lathrop Road & 5th Street/Woodfield Drive, and Golden Valley Parkway & Spartan Way

6. COUNCIL COMMUNICATIONS

6.1 COUNCILMEMBER DIALLO REFERRAL - Discuss and Request Creating a 2x2 Committee between the City of Lathrop and San Joaquin County Sheriff’s Office for Matters Related to a Proposed Memorandum of Understanding Regarding Jurisdictional Waterways in Lathrop

6.2 MAYOR & COUNCILMEMBER COMMITTEE REPORT(S)
 Central Valley Executive Committee/LOCC (Akinjo/Diallo)  SJ Co. Council of Governments (Akinjo/Diallo)
 SJ Co. Council of Governments Executive Committee (Akinjo)  Integrated Waste Management Task Force (Dresser/Torres-O’Callaghan)  Reclamation District 17 Joint Powers Authority (Salvatore)  San Joaquin Partnership Board of Directors (Salvatore)  San Joaquin County Commission on Aging (Vacancy)
 San Joaquin Valley Air Pollution Control District (Dresser/Akinjo)  SJ Co. Water Advisory Board (Torres-O’Callaghan/Lazard) 8 January 12, 2026 Lathrop City Council Regular Meeting Agenda Page 8  Tri Valley-San Joaquin Valley Regional Rail Authority (Akinjo)  San Joaquin Area Flood Control Agency (Dresser/Lazard/Torres-O’Callaghan)  Ava Community Energy (Diallo/Dresser)
 Local Agency Formation Commission (LAFCo) (Diallo)

6.3 MAYOR & COUNCILMEMBER COMMENT(S)

7. ADJOURNMENT
/Teresa Vargas/
Teresa Vargas, MMC
Government Services Director
City Clerk
9 PAGE LEFT

INTENTIONALLY
BLANK
10 November 10, 2025 Lathrop City Council Regular Meeting Minutes Page 1

CITY OF LATHROP

CITY COUNCIL REGULAR MEETING
MONDAY, NOVEMBER 10, 2025, 7:00 P.M.

CLOSED SESSION, 6:30 P.M.

COUNCIL CHAMBER, CITY HALL
390 Towne Centre Drive
Lathrop, CA 95330

MINUTES
PLEASE NOTE: There was a Closed Session, which commencing at 6:31 p.m. The Regular Meeting reconvened at 7:02 p.m.

1. PRELIMINARY

1.1 CALL TO ORDER – Mayor Akinjo called the meeting to order at 6:31 p.m. and adjourned to Closed Session.

1.2 CLOSED SESSION

1.2.1 LIABILITY CLAIM: Pursuant to California Government Code Section 54956.95:
 Claimant: Ayden Horn
Agency Claimed Against: City of Lathrop
RECONVENE – Mayor Akinjo reconvened the meeting at 7:02 p.m.

1.2.2 REPORT FROM CLOSED SESSION
City Attorney Salvador Navarrete reported that the City Council met in closed session pursuant to Item 1.2 and approved the claim by a 4–0 vote.

1.3 ROLL CALL

Present: Mayor Akinjo; Vice Mayor Torres-O’Callaghan; and Councilmembers: Dresser and Lazard

Absent: Councilmember Diallo

1.4 INVOCATION – Pastor Christian Figueroa, Home Church, provided the invocation.

1.5 PLEDGE OF ALLEGIANCE – Pastor Figueroa led the pledge of allegiance.

ITEM 4.2
11 November 10, 2025 Lathrop City Council Regular Meeting Minutes Page 2

1.6 ANNOUNCEMENT(S) BY MAYOR / CITY MANAGER
City Manager Stephen Salvatore invited to the 2025 Veterans Day Celebration scheduled for Tuesday, November 11, 2025, at 11:00 AM at the Lathrop Community Center.

1.7 INFORMATIONAL ITEM(S) - None

1.8 DECLARATION OF CONFLICT(S) OF INTEREST –
Councilmember Dresser requested clarification from City Attorney Salvador Navarrete regarding Item 4.9 and a potential conflict of interest related to his membership in the Lathrop Rotary Club. After a brief discussion between City Attorney Navarrete and Councilmember Dresser, it was clarified that no financial interest existed; therefore, no conflict of interest was declared.

2. PRESENTATIONS

2.1 CERTIFICATES OF RECOGNITION TO VARIOUS ORGANIZATIONS:

Mayor Akinjo on behalf of the Lathrop City Council presented certificates of recognition to the following individuals for their community involvement:
 Sahithi Kuchipudi Kalashetram
 Manteca Indians Durga Puja Committee
 Mitra, USA
Speakers Gutanjali Barani, Sujalita Bharadwaj and Sahithilatha Bandan provided remarks.

2.2 PROCLAMATION DECLARING NOVEMBER 2025 AS SIKH AWARENESS MONTH
Mayor Akinjo on behalf of the Lathrop City Council presented a proclamation to Supervisor Sonny Dhaliwal declaring November 2025 as Sikh Awareness Month.

2.3 QUARTERLY ECONOMIC DEVELOPMENT UPDATE
Economic Development Administrator Barbara Harb provided the quarterly economic development update and quarterly presentation.

3. CITIZEN’S FORUM - None
12 November 10, 2025 Lathrop City Council Regular Meeting Minutes Page 3

4. CONSENT CALENDAR
On a motion by Vice Mayor Torres-O’Callaghan, seconded by Councilmember Lazard, the City Council approved the Consent Calendar, by the following roll call vote unless otherwise noted:

Ayes: Dresser, Lazard, Torres-O'Callaghan and Akinjo
Noes: None

Absent: Diallo
Abstain: None

4.1 WAIVING OF READING OF ORDINANCES AND RESOLUTIONS
Waived the reading in full of ordinances and resolutions on agenda and adopt by reading of title only, unless otherwise requested by the Mayor or a Councilmember.

4.2 APPROVAL OF MINUTES
Approved Minutes for the Regular City Council Meeting of September 8, 2025

4.3 SECOND READING AND ADOPTION OF ORDINANCE 25-474 OF THE CITY

COUNCIL OF THE CITY OF LATHROP TO AMEND LATHROP MUNICIPAL CODE SECTION 12.04.010 “DEFINITIONS” AND SECTION 12.20.010 “CONDUCT IN CITY PARKS – PROHIBITED ACTIONS”
Waived full reading and adopted Ordinance 25-474 amending Code Section 12.04.010 “Definitions” and Section 12.20.010 “Conduct in City Parks – Prohibited Actions” of the Lathrop Municipal Code.

4.4 TREASURER’S REPORT FOR SEPTEMBER 2025
Approved Quarterly Treasurer’s Report for September 2025.

4.5 COMMUNITY FACILITIES DISTRICTS ANNUAL BOND ACCOUNTABILITY REPORT FOR FY 2024-25
No City Council action taken, the City Council received the report provided.

4.6 AUTHORIZE THE POSTPONEMENT OF DELINQUENT UTILITY TURN-OFFS FOR DECEMBER 2025
Adopted Resolution 25-5908 approving the suspension of service disconnections in the month of December 2025 for all delinquent accounts.
13 November 10, 2025 Lathrop City Council Regular Meeting Minutes Page 4

4.7 AUTHORIZE ACCEPTANCE OF THE FY25 SAFER OUTCOMES GRANT AWARD FROM THE U.S. DEPARTMENT OF JUSTICE (DOJ), OFFICE OF

COMMUNITY ORIENTED POLICING SERVICES (COPS), APPROVE
CREATION OF PROJECT GG 26-24, AND RELATED BUDGET AMENDMENT Adopted Resolution 25-5909 authorizing the acceptance of the FY25 Safer Outcomes Grant Fund Award of $215,389 from the U.S.

Department of Justice (DOJ), Office of Community Oriented Policing Services (COPS), creation of CIP GG 26-24, and approving related budget amendment.

4.8 APPROVE PLANNING FEE WAIVER REQUEST BY HOME CHURCH (TUP25-141) Adopted Resolution 25-5910 waiving the Temporary Use Permit application processing and document retention fees for Home Church, in the Combined Amount of $392.

4.9 APPROVE 2025 AND 2026 FACILITY FEE WAIVER REQUESTS FROM

LATHROP LITTLE LEAGUE, LATHROP LIONS CLUB, LATHROP SUNRISE

ROTARY, RIVER ISLANDS HIGH SCHOOL BASEBALL, ALCOHOLICS
ANONYMOUS, AND LIFT UP YOUR HEAD THERAPEUTIC HOMES, INC.

1. Adopted Resolution 25-5911 approving Facility Fee Waiver Request from Lathrop Little League;

2. Adopted Resolution 25-5912 approving Facility Fee Waiver Request from Lathrop Lions Club;

3. Adopted Resolution 25-5913 approving Facility Fee Waiver Request from Lathrop Sunrise Rotary;

4. Adopted Resolution 25-5914 approving Facility Fee Waiver Request from River Islands High School Baseball;

5. Adopted Resolution 25-5915 approving Facility Fee Waiver Request from Alcoholics Anonymous; and

6. Adopted Resolution 25-5916 approving Facility Fee Waiver Request from Lift Up Your Head Therapeutic Homes, Inc.

4.10 APPROVE THE TEMPORARY STREET CLOSURES FOR THE LATHROP CHRISTMAS PARADE AND TREE LIGHTING ON DECEMBER 6, 2025, FOR THOMSEN ROAD, J STREET, AND 5TH STREET
Adopted Resolution 25-5917 approving temporary street closures for the Lathrop Christmas Parade and Tree Lighting on December 6, 2025, for Thomsen Road, J Street, and 5th Street.

4.11 APPROVE OUT OF STATE TRAVEL FOR COUNCIL MEMBERS TO ATTEND THE 2025 NATIONAL LEAGUE OF CITIES CITY SUMMIT
14 November 10, 2025 Lathrop City Council Regular Meeting Minutes Page 5 Adopted Resolution 25-5918 authorizing out of state travel for three Council Members to attend the 2025 National League of Cities City Summit in Salt Lake City, Utah, November 18-23, 2025.

4.12 APPROVE OUT OF STATE TRAVEL AUTHORIZING THE PARKS AND RECREATION SUPERVISOR TO ATTEND THE 2026 MUNICIPAL SPECIAL

EVENTS SUMMIT IN VIRGINIA BEACH, VIRGINIA
Adopted Resolution 25-5919 authorizing out of state travel for the Parks and Recreation Supervisor to attend the 2026 Municipal Special Events Summit from February 16-19 2026, in Virginia Beach, Virginia.

4.13 APPROVE OF OUT OF STATE TRAVEL FOR TWO (2) INFORMATION SYSTEMS DEPARTMENT (ISD) STAFF MEMBERS AND (1) GOVERNMENT

SERVICES DIRECTOR/CITY CLERK DEPARTMENT STAFF MEMBER TO ATTEND THE 2026 LASERFICHE EMPOWER CONFERENCE
Adopted Resolution 25-5920 approving out of state travel for two Information Systems Department (ISD) staff members and the Government Services Director/City Clerk to attend the 2026 Laserfiche Empower Conference in Las Vegas, Nevada, April 27-30, 2026, and approved a budget amendment to the ISD training and travel budget.

4.14 APPROVE OUT OF STATE TRAVEL FOR THE GOVERNMENT SERVICES

DIRECTOR/CITY CLERK TO ATTEND THE INTERNATIONAL INSTITUTE OF MUNICIPAL CLERKS (IIMC) 2026 ANNUAL CONFERENCE
Adopted Resolution 25-5921 authorizing out of state travel for the Government Services Director/City Clerk to attend the International Institute of Municipal Clerks (IIMC) 2026 Annual Conference in Reno, Nevada, May 15 -21, 2026.

4.15 APPROVE PARCEL MAP 25-03 FOR 11 COMMERCIAL LOTS LOCATED IN

THE CLSP COMMERCIAL AREA
Adopted Resolution 25-5922 approving Parcel Map 25-03 for 11 commercial lots located in the Central Lathrop Specific Plan Commercial Area.

4.16 APPROVE SELECTION OF A CONCEPTUAL DESIGN OF LATHROP MULTIPURPOSE COMMUNITY CENTER COMPLEX, CIP PK 22-05 Adopted Resolution 25-5923 approving conceptual design for the Lathrop Multi-Purpose Community Center Complex, CIP PK 22-05.

4.17 APPROVE SUBMITTAL OF LOUISE AVENUE AND INTERSTATE 5 INTERCHANGE, CIP PS 06-06 FOR THE 2026 SJCOG ONE VOICE

PROJECT NOMINATIONS
15 November 10, 2025 Lathrop City Council Regular Meeting Minutes Page 6 Adopted Resolution 25-5924 approving submittal of Louise Avenue and Interstate 5 Interchange, CIP PS 06-06 for the 2026 San Joaquin Council of Governments One Voice project nominations

4.18 APPROVE BUDGET AMENDMENT FOR THE MOSSDALE WASTEWATER

PUMP STATION ACCESS MODIFICATIONS AND UPGRADES PROJECT, CIP WW 26-09
Adopted Resolution 25-5925 approving budget amendment for the Mossdale Wastewater Pump Station Access Modifications and Upgrades Project, CIP WW 26-09.

4.19 ACCEPT PUBLIC IMPROVEMENTS IN TRACT 4151 WITH CONDITIONS FROM D.R. HORTON BAY, INC.

Adopted Resolution 25-5926 accepting public improvements in Tract 4151 with conditions from D.R. Horton Bay, Inc.

4.20 CREATE HOWLAND ROAD PAVEMENT REHABILITATION, CIP PS 26-23,

AND APPROVE BUDGET AMENDMENT
Adopted Resolution 25-5927 creating Howland Road Pavement Rehabilitation Project, CIP PS 26-23, and approving budget amendment.

4.21 CREATE LATHROP ROAD AND HARLAN ROAD PAVEMENT
REHABILITATION, CIP PS 26-25, AND APPROVE BUDGET AMENDMENT Adopted Resolution 25-5928 creating Lathrop Road and Harlan Road Pavement Rehabilitation Project, CIP PS 26-25, and approving related budget amendment.

5. SCHEDULED ITEMS

5.1 PUBLIC HEARING (PUBLISHED NOTICE) TO CONSIDER THE 2026

SJMSCP DEVELOPMENT FEE ANNUAL ADJUSTMENT
Community Development Director Rick Caguiat provided the presentation. Mayor Akinjo opened the public hearing. There were no public speakers. A question and answer period ensued amongst members of the City Council. Steve Mayo with the San Joaquin Council of Governments provided additional information. Mayor Akinjo closed the public hearing.

On a motion by Councilmember Torres-O’Callaghan, and seconded by Councilmember Lazard, the City Council considered the following:

1. Held a public hearing; and

2. Adopted Resolution 25-5929 approving an annual adjustment to the San Joaquin County Multi-Species Habitat Conservation and Open Space Plan (SJMSCP) Development Fee for 2026.
16 November 10, 2025 Lathrop City Council Regular Meeting Minutes Page 7 Ayes: Dresser, Lazard, Torres-O'Callaghan and Akinjo
Noes: None

Absent: Diallo
Abstain: None

5.2 PUBLIC HEARING (PUBLISHED NOTICE) TO CONSIDER AN ORDINANCE OF THE CITY OF LATHROP TO ADD SECTIONS 13.04.125 AND 13.16.125 TO TITLE 13 (“PUBLIC SERVICES”) OF THE LATHROP MUNICIPAL CODE

TO ESTABLISH CAPACITY ALLOCATION AND CONSUMPTION REVIEW City Engineer Brad Talor provided the presentation. Mayor Akinjo opened the public hearing. There were no public speakers. Mayor Akinjo closed the public hearing.

On a motion by Councilmember Torres-O’Callaghan, and seconded by Councilmember Lazard, the City Council considered the following:

1. Held a public hearing; and

2. Introduced and held first reading of an ordinance adding Sections

13.04.125 and 13.16.125 to Title 13 (“Public Services”) of the Lathrop Municipal Code to establish capacity allocation and consumption review.

Ayes: Dresser, Lazard, Torres-O'Callaghan and Akinjo
Noes: None

Absent: Diallo
Abstain: None

5.3 PUBLIC HEARING (PUBLISHED NOTICE) TO CONSIDER AN ORDINANCE OF THE CITY OF LATHROP TO AMEND TITLE 13 (“PUBLIC SERVICES”)

OF THE LATHROP MUNICIPAL CODE TO ESTABLISH A GENERAL
DEFINITION OF “PUBLIC WORKS DIRECTOR”
City Engineer Brad Talor provided the presentation. Mayor Akinjo opened the public hearing. There were no public speakers. Mayor Akinjo closed the public hearing.

On a motion by Councilmember Torres-O’Callaghan, and seconded by Councilmember Lazard, the City Council considered the following:

1. Held a public hearing; and

2. Introduced and held first reading of an ordinance amending Title 13 (“Public Services”) of the Lathrop Municipal Code to Establish a General and Consistent Definition of “Public Works Director” Ayes: Akinjo, Diallo, Lazard, Torres-O’Callaghan and Dhaliwal Noes: None

Absent: None
Abstain: None
17 November 10, 2025 Lathrop City Council Regular Meeting Minutes Page 8

6. COUNCIL COMMUNICATIONS

6.1 MAYOR’S REFERRAL – Discuss Approval of an Annual Celebratory Event Recognizing Lathrop’s Sisterhood with the City of Bacarra Ilocos Norte, Philippines
Mayor Akinjo provided a summary of the referral, and a question and answer period followed. By consensus, the City Council accepted the referral. The item will be agendized for formal discussion during a future meeting.

6.2 VICE MAYOR TORRES-O’CALLAGHAN REFERRAL – Discuss and Consider Installation of Camera Systems by all School Crosswalks Vice Mayor Torres-O’Callaghan provided a summary of the referral, and a question and answer period followed. City Engineer Brad Taylor and Police Chief Stephen Sealy provided additional information. By consensus, the City Council accepted the referral. The item will be agendized for formal discussion during a future meeting.

6.3 COUNCILMEMBER DIALLO REFERRAL - Discuss and Request Creating a 2x2 Committee between the City of Lathrop and San Joaquin County Sheriff’s Office for Matters Related to a Proposed Memorandum of Understanding Regarding Jurisdictional Waterways in Lathrop Due to the absence of Councilmember Diallo, this item was moved to the next Regular City Council Meeting.

6.4 MAYOR & COUNCILMEMBER COMMITTEE REPORT(S)
Vice Mayor Torres-O’Callaghan provided a summary of her attendance to the most recent meeting of the San Joaquin County Water Advisory Board. Mayor Akinjo commented on the matter.

6.5 MAYOR & COUNCILMEMBER COMMENT(S)
Councilmember Dresser commented on various topics, such as a recent presentation provided by Ava Energy, Veteran’s Day celebration and the Annual Rotary Thanksgiving Dinner. Vice Mayor Torres-O’Callaghan thanked police and fire for recent community events.

7. ADJOURNMENT – There being no further business, Mayor Akinjo adjourned the meeting at 8:39 p.m., in loving memory of Bennie Gatto.

Teresa Vargas, MMC
Government Services Director, City Clerk
18 ITEM 4. 3

CITY MANAGER' S REPORT
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
ITEM: SECOND READING AND ADOPTION OF ORDINANCE
26- 477 OF THE CITY COUNCIL OF THE CITY OF
LATHROP TO AMEND SECTION 10. 24. 030 TO TITLE
10 (" VEHICLES AND TRAFFIC") OF THE LATHROP

MUNICIPAL CODE TO DESIGNATE NO PARKING
AREAS
RECOMMENDATION: Waive Full Reading and Adopt Ordinance 26- 477 to Amend Section 10. 24. 030 to Title 10 (" Vehicles and
Traffic") of the Lathrop Municipal Code to Designate
No Parking Areas
RECOMMENDED ACTION:

The City Council to conduct a second reading and adopt Ordinance 26- 477 entitled:

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LATHROP TO AMEND SECTION 10. 24. 030 TO TITLE 10 (" VEHICLES AND TRAFFIC") OF THE LATHROP

MUNICIPAL CODE TO DESIGNATE NO PARKING AREAS
SUMMARY:

On December 8, 2025, the City Council approved the introduction and first reading of the subject Ordinance by the following vote:

AYES: Dresser, Lazard, Torres -O' Callaghan, and Akinjo NOES: None
ABSTAIN: None
ABSENT: Diallo
The Ordinance will take effect 30 days after adoption.

SUBMITTED BY:
1) g6 -
gas, City Clerk Date
19 ORDINANCE NO. 26- 477

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LATHROP TO AMEND SECTION 10. 24. 030 TO TITLE 10 (" VEHICLES AND TRAFFIC") OF THE

LATHROP MUNICIPAL CODE TO DESIGNATE NO PARKING AREAS
WHEREAS, pursuant to California Vehicle Code ( CVC) Section 22507, the City is required to establish No Parking Areas within the City limits by ordinance; and WHEREAS, staff has identified necessary modifications and additions to Lathrop Municipal Code Section ( LMC) 10. 24. 030 titled " Designated No Parking Areas" to support safer streets and a cleaner environment by addressing littering and loitering concerns; and
WHEREAS, staff request that the City Council consider amending LMC Section

10. 24. 030, as shown in Exhibit A incorporated by reference herein.

NOW, THEREFORE, BE IT ORDAINED that the City Council of the City of Lathrop does hereby approve amending Section 10. 24. 030 entitled " Designated No Parking Areas" of the Lathrop Municipal Code as shown in Exhibit A, incorporated by reference herein.

Section 1. The Lathrop Municipal Code is hereby amended as shown in Exhibit A, attached hereto and incorporated by reference herein.

Section 2. Duty of Care This Ordinance is not intended to and shall not be construed or given effect in a manner that imposes upon the city or any officer or employee thereof a mandatory duty of care toward persons and property within or without the city so as to provide a basis of civil liability for damages, except as otherwise imposed by law.

Section 3. Severability. If any section, subsequent subdivision, paragraph, sentence, clause or phrase of this Ordinance is for any reason held to be unconstitutional or otherwise invalid, such a decision shall not affect the validity of the remaining portions of this Ordinance. The City Council hereby declares that it would have passed each section, subsection, subdivision, paragraph, sentence, clause or phrase of this Ordinance irrespective of the unconstitutionality or invalidity of any section, subsection, subdivision, paragraph, sentence, clause or phrase.

Section 4. Effective Date. This Ordinance shall take legal effect 30 days from and after the date of its passage.

Section 5. Publication. Within fifteen days of the adoption of this Ordinance, the City Clerk shall make a copy of this Ordinance to be published in full accordance with Section 36933 of the Government Code.

Ordinance No. 26- 477
20 THIS ORDINANCE was introduced at a regular meeting of the City Council of the City of Lathrop on the 8th day of December 2025, and was PASSED AND ADOPTED at a regular meeting of the City Council of the City of Lathrop on the day of 20 , by the following vote, to wit:

AYES:

NOES:

ABSENT:

ABSTAIN:

Paul Akinjo, Mayor
ATTEST: APPROVED AS TO FORM:

Teresa Vargas, City Clerk Salvador Navarrete, City Attorney Ordinance No. 26- 477
21 Language Removed will be shown in strikethrough
Revised Language will be shown in underline
Title 10. Vehicles and Traffic
Chapter 10. 24 PARKING
1 10. 24. 030 Designated No Parking Areas

EXHIBIT A
Upon amendment by ordinance prohibiting parking on certain streets and/ or highways within the corporate limits of the City, as depicted below, the Director of Public Works is directed to place appropriate signs and/ or markings sufficient to give adequate notice of such no parking areas. Until appropriate signs and/ or markings sufficient to give adequate notice of such no parking areas, as depicted below, is provided by the Director of Public Works, no enforcement of the provisions of this section shall occur.

Pursuant to the provisions of the California Vehicle Code, the following no parking zones ( unless noted as time - limited parking) are created or affirmed if previously created in the corporate limits of the City of Lathrop:

Street Side Location
Academy Drive North Beginning at the centerline of Somerston Parkway, thence running easterly to the centerline of River Bend Drive, an approximate distance of 2, 000 feet.

Barbara Terry Boulevard Both Beginning at the centerline of Spartan Way, thence running easterly to the centerline of Sunol Street, an approximate distance of 5, 860 feet.

Bewick Drive Both Beginning at the centerline of Warbler Place, thence running southerly to the centerline of Isidore Way, an approximate distance of 170 feet.

Bluebird Street Both Beginning at the centerline of Spartan Way, thence running southerly to the centerline of Osprey Drive, an approximate distance of 180 feet.

Bosch Avenue Both Beginning at the centerline of Middlebury Drive, thence running northerly to the centerline of Mulholland Drive, an approximate distance of 1, 850 feet.

Briarstone Lane Both Entire length.

Brookhurst Boulevard Both Beginning at the centerline of Manthey Road, thence running westerly to the centerline of McKee Boulevard, an approximate distance of 1, 350 feet.

Business Park Court Both Entire length.

Callerton Avenue Both Entire length.

Cedar Ridge Court Southwest Beginning from the south end of the driveway to 14917 Cedar Ridge Court, thence running easterly an approximate distance of 30 feet.

Central Pacific Street Both Beginning at the centerline of Spartan Way, thence running southerly to the centerline of Albany Street, an approximate distance of 200 feet.

Christopher Way Both Beginning at the centerline of D' Arcy Parkway, thence running southwesterly an approximate distance of 3, 000 feet.

Commercial Street Both Beginning at the centerline ofAcademy Drive, thence running northerly to the centerline of Marina Drive, an approximate distance of 1, 300 feet.

Crescent Moon Drive North Beginning at the centerline of McKee Boulevard, thence running easterly, an approximate distance of 50 feet.

D' Arcy Parkway North Entire length.

D' Arcy Parkway South Beginning at the centerline of Harlan Road, thence running easterly, an approximate distance of 450 feet. Allow 30 minute parking.

D' Arcy Parkway South Beginning at 450 feet east of the centerline of Harlan Road Boulevard, thence running easterly, an approximate distance of 6, 300 feet.

De1l' Osso Drive Both Entire length.
22 Street Side Location
Dos Reis Road Both Entire length.

Fifth Street East Beginning at the centerline of Thomsen Road, thence running southerly an approximate distance of 165 feet.

Fifth Street West Beginning at the centerline of Mingo Way, thence running southerly to the centerline of Louise Avenue, an approximate distance of 500 feet.

Fifth Street West Beginning at the centerline of N Street, thence running southerly to the centerline of O Street, an approximate distance of 400 feet. Prohibit parking between the hours of 8: 30 a. m. to 2: 30 p. m., Monday through Friday. Allow temporary loading/ unloading of vehicle passengers between the hours of 8: 00 a. m. to 8: 30 a. m. and 2: 30 p. m. to 3: 00 p. m., Monday through Friday. Allow parking between the hours of 3: 00 p. m. and 8: 00 a. m., Monday through Friday and anytime on Saturday and Sunday.

Golden Spike Trail West Beginning at the centerline of Brookhurst Boulevard, thence running north an approximate distance of 750 feet. Prohibit parking from the hours of 8: 00 a. m. to 5: 00 p. m., Monday through Friday. Allow parking between the hours of 5: 00 p. m. to 8: 00 a. m., Monday through Friday and anytime on Saturday and Sunday.

Golden Spike Trail East Beginning at the centerline of Brookhurst Boulevard, thence running north an approximate distance of 250 feet. Prohibit parking from the hours of 8: 00 a. m. to 5: 00 p. m., Monday through Friday. Allow parking between the hours of 5: 00 p. m. to 8: 00 a. m., Monday through Friday and anytime on Saturday and Sunday.

Golden Valley Parkway Both Entire length within city limits.

Glacier Street Both Entire length.

Harlan Road Both Beginning at the northerly city limits, thence running south to cul- de- sac.

Haverhill Lane Both Entire length.

Howland Road Both Entire length.

Imperial Drive West Beginning at the centerline of Holborn Drive, thence running southerly to Marina Drive roundabout, an approximate distance of 65 feet.

Isidore Way Both Beginning at the centerline of Stanford Crossing, thence running westerly to the centerline of Loon Street, an approximate distance of 930 feet.

Jefferson Way Both Entire length.

Johnson Ferry Road Both Beginning at the centerline of Golden Spike Trail, thence running easterly to centerline of Colonial Trail, an approximate distance of 1, 815 feet.

Lakeside Drive Both Entire length.

Lathrop Road Both Beginning at the centerline of Golden Valley Parkway, thence running easterly to the eastern city limits an approximate distance of 9, 500 feet.

Locomotive Street Both Beginning at the centerline of Golden Valley Parkway, thence running westerly to the centerline of Saybrook Street, an approximate distance of 200 feet.

Louise Avenue Both Entire length.

Madruga Road Both Beginning at the centerline of Yosemite Avenue, thence running westerly to the centerline of Glacier Street, an approximate distance of 770 feet.

Manthey Road Both Beginning at south city limits, thence running northerly to city limits an approximate distance of 28, 400 feet.

Marina Drive Both Beginning at the centerline of Somerston Parkway, thence running easterly to the centerline of River Bend Drive, an approximate distance of 2, 400 feet.

Marina Drive South Beginning at the centerline of Leto Way, thence running westerly to the centerline of Silver Springs Way, an approximate distance of 1, 050 feet.

McKee Boulevard Both Beginning at the centerline of Crescent Moon Drive, thence running northerly and southerly an approximate distance of 85 feet.

McKinley Avenue Both Entire length within City limits.

Mossdale Road Both Entire length within city limits.

Murphy Parkway Both Beginning at the centerline of D' Arcy Parkway, thence running northerly to the end.

Murphy Parkway Both Beginning at the centerline of Tesla Drive, thence running northerly to the centerline of D' Arcy Parkway, an approximate distance of 1, 500 feet. Allow parking during the hours from 6: 00 a. m. to 10: 00 p. m. Prohibit parking from 10: 00 p. m. to 6: 00 a. m. Prohibit parking of vehicles over 5 tons. 23 Street Side Location
Tesla Drive Both Beginning at the centerline of Harlan Road, thence running easterly to the centerline of Murphy Parkway, an approximate distance of 1, 530 feet.

Tesla Drive Both Beginning at the centerline of Murphy Parkway, thence running easterly to the centerline of Christopher Way, an approximate distance of 1, 900 feet. Allow parking during the hours from 6: 00 a. m. to 10: 00 p. m. Prohibit parking from 10: 00 p. m. to 6: 00 a. m. Prohibit parking of vehicles over 5 tons.

O Street North Beginning at an approximate distance of 125 feet east of the centerline of Halmar Lane, thence running easterly an approximate distance of 680 feet to Fifth Street.

Prohibit parking from the hours of 8: 30 a. m. and 2: 30 p. m., Monday through Friday. Allow temporary loading/ unloading of vehicle passengers from the hours of 8: 00 a. m. and 8: 30 a. m. and 2: 30 p. m. to 3: 00 p. m., Monday through Friday.

Allow parking between the hours of 3: 00 p. m. to 8: 00 a. m., Monday through Friday and anytime on Saturday and Sunday. Prohibit parking anytime 50 feet east and west of the centerline of Matador Way.

O Street South Beginning at an approximate distance of 90 feet west from the centerline of Matador Way, thence running west an approximate distance of 40 feet.

Oberlin Avenue Both Beginning at the centerline of Marina Drive, thence running northerly to the centerline of Garden Farms Avenue, an approximate distance of 1, 400 feet.

Old Harlan Road Both Entire length, north and south of Lathrop Road.

Old Harlan Road Both Entire length south of Louise Avenue.

Old Harlan Road East Beginning at the centerline of Louise Avenue, thence running north an approximate distance of 310 feet. Allow parking during the hours from 6: 00 a. m. to 10: 00 p. m. Prohibit parking from 10: 00 p. m. to 6: 00 a. m. Prohibit parking of vehicles over 5 tons.

Old Harlan Road West Beginning at an approximate distance of 100 feet south from the centerline of South Harlan Road, thence running south an approximate distance of 100 feet.

Allow parking during the hours from 6: 00 a. m. to 10: 00 p. m. Prohibit parking from 10: 00 p. m. to 6: 00 a. m. Prohibit parking of vehicles over 5 tons.

Paradise Road Both Entire length within city limits.

Pleasant Road Both Beginning at the centerline of Isidore Way, thence running southerly to the centerline of Folktale Way, an approximate distance of 180 feet.

Quartz Way East Beginning at the southerly boundary of 13580 Quartz Way (lot 15), thence running southerly to the northern boundary of 13590 Quartz Way ( lot 14), an approximate distance of 20 feet for Emergency Vehicle Access.

Riptide Way Both Entire length.

River Islands Parkway Both Entire length within city limits.

Ro11 Tide Way Both Entire length.

Roth Road Both Entire length within city limits.

Sadler Oak Drive Both Entire length.

Sandhill Crane Road Both Entire length.

Seventh Street Both Beginning at the centerline of Fifth Street, thence running easterly along Seventh Street for an approximate distance of 600 feet.

Sierra Mar Road Both Beginning at the centerline of Barbara Terry Boulevard, thence running westerly to the centerline of Testarossa Street, an approximate distance of 175 feet.

Somerston Parkway Both Entire length.

Somerville Street Both Entire length
Spartan Way Both Beginning at the centerline of Golden Valley Parkway, thence running westerly to an approximate distance of 850 feet north of the centerline of Hidden Cove Place.

Stanford Crossing Drive Both Entire length.

Stewart Road Both Beginning at a point 550 feet north of the centerline of the Union Pacific Railroad tracks ( formerly southern Pacific Railroad tracks), thence running southerly along Stewart Road an approximate distance of 1, 450 feet to the centerline of Manthey Road.

Stonebridge Lane Both Beginning at a point that is on the east right- of- way line of Harlan Road, thence running easterly to the centerline of Slate Street, an approximate distance of 2, 400 feet.
24 Street Side Location
Thomsen Road Both Beginning at the east right- of- way of Harlan Road, thence running easterly for an approximate distance of 200 feet.

Thomsen Road South Beginning at a point approximately 200 feet east of the right- of- way of Harlan Road, thence running easterly an approximate distance of 400 feet to the centerline of Lisa Lane. Allow parking during the hours from 6: 00 a. m. to 10: 00 p. m. Prohibit parking from 10: 00 p. m. to 6: 00 a. m.

Thomsen Road North Beginning at a point approximately 200 feet east of the right- of- way of Harlan Road, thence running easterly an approximate distance of 200 feet. Allow parking during the hours from 6: 00 a. m. to 10: 00 p. m. Prohibit parking from 10: 00 p. m. to 6: 00 a. m.

Top of San Joaquin
River levee in RD - 17
and all levee access
points
Both Beginning at the northern city limit line, following the levee until the centerline of Manthey Road.

Towne Centre Drive Both Beginning at the centerline of Manthey Road, thence westerly to the centerline of Golden Valley Parkway. Allow parking for up to two hours between 6: 00 a.m. to 10: 00 p. m. Prohibit parking between the hours of 10: 00 p. m. and 6: 00 a. m.

Towne Centre Drive Both Beginning at the centerline of Golden Valley Parkway, thence running westerly an approximate distance of 400 feet.

Winton Avenue Both Entire length.

Woodfield Drive Both Beginning at the centerline of Lathrop Road, thence running northerly to the centerline of Long Barn Drive, an approximate distance of 450 feet.

Yosemite Avenue North Beginning at the centerline of McKinley Avenue, thence running easterly to city limits.

Yosemite Avenue South Both Beginning at the centerline of McKinley Avenue, thence running westerly to the centerline of Jefferson Way an approximate distance of 3, 000 feet.

Yosemite Avenue Both Beginning 800 feet east of the rigIt of way of State Route 120, thence running westerly to the centerline of Jefferson Way, an approximate distance of 6, 800 feet.

Yosemite Court Both Entire Length
The public works director is hereby directed to erect appropriate signage and/ or markings to indicate the existence of these no parking zones. In erecting signage on roads with unimproved shoulders, the signs shall be placed at the edge of the rightof- way. Until and unless appropriate signage and/ or markings are erected, no enforcement of these no parking zones shall occur. Payment for such signage shall come from account 208- 5010. (Ord. 93- 104; Ord. 99- 166; Ord. 08- 282 § 1; Ord. 09- 288 § 1; Ord. 09- 296 § 1; Ord. 10- 301 § 1; Ord. 10- 302 § 1; Ord. 11- 304 § 1; Ord. 11- 306 § 1; Ord. 11- 309 § 1; Ord. 12- 317 § 1; Ord. 13- 325 § 1; Ord. 14- 336 § 1; Ord. 17- 382 § 1; Ord. 18- 389 § 1; Ord. 20- 417 § 1; Ord. 22- 430 § 1; Ord. 24- 454, 1/ 8/ 2024; Ord. 25- 465, 4/ 14/ 2025; Ord. 25- 468, 7/ 14/ 2025) 25 PAGE LEFT

INTENTIONALLY
BLANK
26 ITEM 4.

CITY MANAGER' S REPORT
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
ITEM:

RECOMMENDATION:

REVIEW OF THE CAPITAL FACILITY FEE FUNDS
REPORT FOR FY 2024-025 AND THE FIVEYEAR CFF FUND REPORT Review of the Capital Facility Fee Funds Report
for Fiscal Year 2024-025 and the Five -Year
CFF Fund Report
SUMMARY:

Pursuant to the State of California Mitigation Fee Act ( also known as " AB 1600" CA Government Code Section 66006 et seq.), the City of Lathrop is required to provide an annual overview of fees collected by the Capital Facility Fee ( CFF) program as a result of new development. This report presents the background for each fee and shows last year' sfee schedules and history. The information provided is required by the Government Code ( GC) to be made available for public review and subsequently reviewed by City Council at the next regular meeting after being made public.

BACKGROUND:

The City' s
CFF program was first instituted on October 10, 1990 to provide adequate capital facility improvements to serve new development within the City. Since then, the CFF program has been amended to ensure that new development pays its proportionate share of improvement costs needed as a result of new development.

In 2003, the CFF program was amended to include a broad range of capital facility fees and establish fees for a new development planned for West of I-5, mainly River Islands and Mossdale Landing.

In 2005, the CFF program was amended to establish fees for new development in the Central Lathrop Specific Plan ( CLSP) area and followed with revisions in 2007, adding the offsite roadway intersection improvements and the surface water supply fee components for the CLSP area.

In 2011, the CFF program was amended to establish the North Lathrop Transportation Impact Fee for new development impacting the Roth Road/ I-5interchange and the associated frontage roads in the North Lathrop area.

In May 2018, the CFF program was amended to keep pace with the rising cost of infrastructure, facilities and land. This amendment included adjusting existing fees for inflation and updating project costs for the West/ Central Lathrop Regional Transportation CFF, Surface Water Supply CFF, and the Water System CFF and establishing a new Sewer/ Recycled Water System CFF for the CLSP area. 27 CITY MANAGER' SREPORT PAGE 2
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
REVIEW OF THE CAPITAL FACILITY FEE FUNDS REPORT FOR FY 2024-025 In December 2018, the San Joaquin Area Flood Control Agency ( SJAFCA) Mossdale Tract Area Regional Urban Level of Flood Protection ( ULOP) Development Impact Fee DIF) agreement replaced Lathrop' s 2017 Interim Levee Fee for the Reclamation District 17 Urban Level of Flood Protection Levee System Improvements.

In February 2019, the CLSP CFF Study update established a new In -Lieu Community Parks Dedication Fee, adjusted existing inflation fees and updated project costs and fees for the West/ Central Lathrop Regional Transportation and the Sewer/ Recycled Water System. The CLSP Neighborhood Park Capital Facility Fee was updated in February 2021 to reflect the actual park development costs realized by the developer of the CLSP.

In June 2019, the CLSP CFF Study established a new CFF for the Storm Drainage System Improvements - Watershed 2, Storm Drainage System Improvements - Watershed 4, Entitlements, and Prior Developer Account Open Items to reimburse the construction of storm drainage facilities and reimburse past expenditures associated with developing the CLSP area.

In October 2019, the South Lathrop Specific Plan ( SLSP) and the Lathrop Gateway Business Park Specific Plan ( LGBPSP) CFF Study provided an update to the CFF program for the SLSP area and established a fee program for the LGBPSP area. In May 2020, the CFF program was updated based on actual facility construction cost for SLSP and LGBPSP.

In February 2020, the Sewer Reimbursement CFF Study established a new Sewer Reimbursement fee for the construction of oversized sewer facilities, including future construction of sewer facilities within the City.

In July 2022, the West/ Central Regional Transportation and Central Lathrop Specific Plan CFFs were updated to include new traffic signals, storm drainage facilities, and a water tank and booster pump facility located in the Central Lathrop Specific Plan.

On October 14, 2024, the Lathrop City Council approved the 2024 Capital Facilities Fee Study Update, which recalculated selected impact fees to reflect updated land use assumptions ( including the CLSP Phase 2 rezoning), updated facility needs and cost assumptions, and AB 602 -related methodology changes.

The CFF program provides a source of revenue by which new development within the City will contribute their fair share of the costs that directly affect the need to construct infrastructure or expand community public facilities to meet growth needs. 28 CITY MANAGER' S REPORT PAGE 3
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
REVIEW OF THE CAPITAL FACILITY FEE FUNDS REPORT FOR FY 2024-025 The City' s
CFF program funds improvements in the following categories:

1. Transportation
a. Local
b. Regional

2. Culture and Leisure

3. Municipal Services

4. Storm Drainage

5. Administration

6. San Joaquin County Multi -Species Habitat

7. Environmental Mitigation

8. Park -In -Lieu

9. Water

10. Surface Water

11. Sewer
The Annual CFF report, included as Attachment " A", required by California GC 66006 et seq., was developed to identify the balances of fees in the Capital Facility Fee funds. The annual report provides the following information for each fee:
a detailed description
the fee amount
beginning and ending balances for the fiscal year
fees collected and interest earned
transfers, refunds, and expenditures
The expenditures have been further broken down to identify the public improvements on which the fees were expended and the amount of expenditures for each improvement.

The Five -Year CFF Fund Report provides an overview of the improvement projects identified in the CFF program. The report lists the estimated cost for each project and the approximate date available. The fees and project costs are adjusted annually based on the annual changes to the Engineering News - Record Construction Cost Index ( ENR CCI). The annual adjustment utilizing the ENR CCI ensures the current cost of construction and appropriate fees reflect the effects of inflation.

REASON FOR RECOMMENDATION:

The attached report was made public on December 20, 2024, pursuant to Section 66006 et seq. of the California Government Code, which requires a detailed report regarding the collection and expenditure of fees in the CFF program. Pursuant to the California GC, the report is required to be made public and the City Council is required to review the information made available to the public at its next regular scheduled meeting.
29 CITY MANAGER' S REPORT PAGE 4
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
REVIEW OF THE CAPITAL FACILITY FEE FUNDS REPORT FOR FY 2024-025 FISCAL IMPACT:

The cost for this item was staff time and materials to complete the attached report.

ATTACHMENTS:

A. Capital Facility Fee Funds Report for report period Fiscal Year 2023-024 B. Five Year Capital Facility Funds Report for report period: July 1, 2024 to June 30, 2025.
30 CITY MANAGER' S REPORT PAGE 5
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
REVIEW OF THE CAPITAL FACILITY FEE FUNDS REPORT FOR FY 2024-025 APPROVALS:

Bell Nabizaah
Assistant Engineer
Bradliaylor
City Engineer
ick C!• uiat
Corn unity Development Director
Cari Ja s
Finance Director
1/ S i2C,
Date
Date
S 2
D to
Date
4/ 020V- 4
14/ T070
Thomas Hedegard Date
Deputy City Manager
J• 7- z. oaca
Michael King Date
Assistant City Manager
Zoz 6
Salvador Navarrete Date
City Attorney
Stephen J. Salvatore
City Manager
Date
31 ATTACHMENT
A ..

City ofLathrop
Capital Facility Fee Funds Report
2024 — 2025
Made Pursuant to Government Code
Section 66000 et seq.

Made Available for Public Review on:

December 23, 2025
City Council Agenda Date:

January 12, 2026
For further information, please contact:

Brad Taylor, City Engineer, Public Works Department
209) 941- 7438
32 Capital Facility Fee Funds Report
Table of Contents
Capital Facility Fee Fund Listing
Regional Transportation Impact Fee — 2230 3
Local Transportation Impact Fee — 2250 5
Culture and Leisure Capital Facility Fee — 2260 8
Municipal Services Capital Facility Fee — 2270 11
Storm Drainage Capital Facility Fee — 2280 14
Administration Capital Facility Fee — 2290 18
Environmental Mitigation Capital Facility Fee — 2310 20 Regional Levee Impact Fee — 2315 22
West Central Lathrop Transportation Capital Facility Fee — 2320 24 West Lathrop Specific Plan Regional Transportation Impact Fee — 2330 27 Lathrop Local East — 2340 and Lathrop Local West - 2360 30 Regional Transportation Impact Fee San Joaquin County — 2350 33 Regional Transportation Impact Fee San Joaquin Council of Governments 15% — 2370 35 Offsite Roadway Improvements Capital Facility Fee — 2380 37 North Lathrop Transportation Capital Facility Fee — 2420 39 Park in Lieu — 3410 42
Water Capital Facility Fee — 5610 44
Surface Water Capital Facility Fee — 5640 49
Sewer Capital Facility Fee — 6030 52
Report Period: July 1, 2024 to June 30, 2025 Page 2
33 Capital Facility Fee Funds Report
Regional Transportation Impact Fee — 2230
Regional Transportation Impact Fee — 2230

1. Fee Information
Leif op_
a. Description and History of Fee: This fee was collected to fund street improvements for Lathrop' s regional roadways. The fee originated in 1990 and was adopted by Lathrop City Council on October 10, 1990. The Regional Transportation Fee was calculated in coordination with the San Joaquin County Council of Governments to provide countywide transportation improvements for street and highway projects identified in the Congestion Management Program ( CMP). Improvements to both Lathrop and Interstate 5 are included in the CMP.

The fee was reevaluated in the November 1, 1994 CFF Update and was updated to reflect the effects of inflation. In addition, the McKinley Avenue and Yosemite Avenue Intersection Improvements were added to the CFF. Updates to the Regional fee were also done in September of 2003 and again in August of 2005. The 2003 and 2005 studies included adjusting the previous Capital Facility Fee in Historic Lathrop East) to reflect the effects of inflation.

The San Joaquin Regional Transportation Impact Fee (RTIF) is automatically adjusted on an annual basis at the beginning of each fiscal year ( July 1) based on the Engineering News Record California Construction Code Index (CCCI).
b. Amount of Fee: The Regional Transportation Fee was changed to the San Joaquin Regional Transportation Impact Fee ( RTIF) as of February 20, 2006. Funds collected as a result of the newly adopted fee are reported in Funds 2340 and 2360. As of February 20, 2006, the Regional Transportation Fee is no longer collected.
and Use Type Unit FY 24/5
Residential ( Single -Family) DUE 0-
Residential ( Multi -Family) DUE 0-
Retail Sq. Ft 0-
Office Sq. Ft 0-
Commercial/ Industrial Sq. Ft 0-
Report Period: July 1, 2024 to June 30, 2025 Page 3
34 Capital Facility Fee Funds Report
Regional Transportation Impact Fee — 2230

2. Fund Information ( During Reporting Period)
Source
a. Beginning Fund Balance as of July 1, 2024
b. Fees Collected
c. Interest Earned
d. Expenditures
e. Transfer Out
f. Refunds
g. Ending Fund Balance as of June 30, 2025
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2230 expended during the reporting period? No b. Description of Transfers and Loans made from fund.

Were funds from Fund 2230 transferred or loaned during the reporting period? No c. Description of refunds made during reporting period.

Were funds from Fund 2230 refunded during this reporting period? No

3. Planned Projects for Fiscal Year 2024-5: Identification of each improvement on which reportable fees will be expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that will be funded with reportable fees:

The Regional Transportation Impact Fee Fund 2230 does not currently have funds appropriated to any Capital Improvement Program ( CIP) Projects for Fiscal Year 2024-5. Please refer to the City' s 2023- 2028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Report Period: July 1, 2024 to June 30, 2025 Page 4
35 Capital Facility Fee Funds Report
Local Transportation Impact Fee — 2250
Local Transportation Impact Fee — 2250

1. Fee Information
LA -ifFi
a. Description and History ofFee: This fee is collected to fund street improvements for existing city streets to accommodate for increased road usage due to new development. The Crossroads fee is an exception in that it is collected to reimburse the developer for infrastructure that was built with the original project.

The fee originated in 1990 and was adopted by the Lathrop City Council on October 10, 1990. The original fee was designed to fund the widening of local roads from two lanes to four lanes as well as the addition oftraffic signals and turning lanes to increase the capacity ofintersections. In 1990 the Engineering Report for the Lathrop Traffic Mitigation Fee identified an estimated $ 6. 4 million in signal system, intersection and road widening improvements.

An update to the fee was adopted by the Lathrop City Council and adopted on November 1, 1994. The update included the same projects that were included in the original Capital Facility Fees ( CFF), with the exception of Louise Avenue and the addition of the McKinley Avenue Mainline Improvements. The widening and improvements of Louise Avenue between Harlan Road and Fifth Street were completed prior to the 1994 update ( with CFF funds as a contributing source) which is why Louise Avenue was omitted from the 1994 update.

The Local Transportation CFF was reevaluated in September 2, 2003 and again in August 1, 2005. The studies included adjusting the previous CFF in Historic Lathrop ( East) to reflect the effects of inflation.

On August 3, 2015 City Council approved entitlements for the South Lathrop Specific Plan (SLSP) area.

65. 8 million in interchange improvements, road -widening improvements, and railroad crossing improvements. In October 2019 the SLSP and the Lathrop Gateway Business Park Specific Plan LGBPSP) CFF study provided an update to the CFF program for the SLSP area and established a fee program for the LGBPSP area. The LGBPSP CFF Study identified approximately $ 56. 7 million in transportation improvements. In May 2020 the CFF program was updated based on actual facility construction cost for SLSP and LGBPSP.
b. Amount of Fee: The amount of the fee varies by land use type and location.

East Lathrop/ North Harlan Unit July 1, 2024 to Jan. 1, 2025 to Land Use Type Dec. 31, 2024 June 30, 2025
Single Family Residential DU 4,23 4,61
Multi -Family Residential DU 3, 252 3, 280
Commercial 1, 000 sqft 6, 040 6, 093
Industrial/ Warehouse 1, 000 scft 1, 779 1, 795
Crossroads Unit July 1, 2024 to Jan. 1, 2025 to
Land Use Type Dec. 31, 2024 June 30, 2025
Commercial Acre 36, 564 36, 882
Industrial 1, 000 scft 1, 327 1, 339
Report Period: July 1, 2024 to June 30, 2025 Page 5
36 Capital Facility Fee Funds Report
Local Transportation Impact Fee — 2250
South Lathrop Specific Unit July 1, 2024 to Jan. 1, 2025 to Plan- SLCC Plan Land Use Dec. 31, 2024 June 30, 2025
Type
Industrial/
Limited Industrial
1, 000 sqft 1, 591 1, 605
Office Commercial 1, 000 scft 24, 389 24, 601
Retail Commercial 1, 000 scft
Warehouse 1, 000 scft 1, 591 1, 605
South Lathrop Specific Unit July 1, 2024 to Jan. 1, 2025 to Plan -Non SLCC Plan Dec. 31, 2024 June 30, 2025
Land Use Type
Industrial/
Limited Industrial
1, 000 sqft 1, 591 1, 605
Office Commercial 1, 000 sqft 24, 389 24, 601
Retail Commercial 1, 000 sqft
Warehouse 1, 000 scft 1, 591 1, 605
Gateway Business Park Unit July 1, 2024 to Jan. 1, 2025 to Specific Plan Land Use Dec. 31, 2024 June 30, 2025
Type
Industrial/
Limited Industrial
1, 000 sqft 1, 586 1, 600
Office Commercial 1, 000 scft 20, 459 20, 638
Retail Commercial 1, 000 sqft 7, 183 7, 245
Warehouse 1, 000 scft 1, 586 1, 600

2. Fund Information (During Reporting Period)
Source Amount
a. Beginning Fund Balance as of July 1, 2024 162, 450
b. Fees Collected 151, 888
c. Interest Earned 13, 572
d. Expenditures
e. Transfers Out 28, 519)
f. Refunds
g. Ending Fund Balance as of June 30, 2025 299, 31
Report Period: July 1, 2024 to June 30, 2025 Page 6
37 Capital Facility Fee Funds Report
Local Transportation Impact Fee — 2250
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2250 expended during the reporting period? No b. Description of Transfers and Loans made from fund.

Were funds from Fund 2250 transferred or loaned during the reporting period? Yes A total of $1, 000,00 was transferred from Fund 2250 to the following projects:
300, 00 to the Lathrop Road and I-5 Improvements Project PS 06- 16 700, 00 to the Louise Avenue and McKinley Avenue Signal Improvements Project PS 15- 02
c. Description of refunds made during reporting period.

Were funds from Fund 2250 refunded during this reporting period? No

The Local Transportation Impact Fee Fund 2250 currently has funds appropriated to the Capital Improvement Program ( CIP) Project listed below for Fiscal Year 2024-5. Please refer to the City' s 2023- 2028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Project nt .

Louise Ave & McKinley Avenue
Signal Im provements, PS 15- 02
1,41, 327 59
Total 1,41, 327
Report Period: July 1, 2024 to June 30, 2025 Page 7
38 Capital Facility Fee Funds Report
Culture and Leisure Capital Facility Fee — 2260
Culture and Leisure Capital Facility Fee — 2260

1. Fee Information
a. Description and History of Fee: The Culture and Leisure Capital Facility Fee is collected to fund costs for the completion of Neighborhood, Community and Linear Parks, a Library, Cultural Center, Senior Center and Community Center.

The Culture and Leisure Capital Facility Fee was first implemented with the adoption of the October 10, 1990 CFF Study Report. The original fee collected funds merely for Parks and a Library. The Capital Facility Fee program was reevaluated in 1994 and in addition to a park and library component, a component for a cultural center was added. Adopting this change increased the fee for both Single Family from $1, 627 to $ 1, 789) and Multi -Family ( from $ 1, 084 to $ 1, 295) residential dwelling units.

In September of 2003, the City Council again adopted a revision to the Culture and Leisure CFF. This amendment to the CFF was implemented to capture the new direction in which the City was headed. The City has since approved planned communities, that combined exceed 17, 000 new homes, for Mossdale Landing, Central Lathrop Specific Plan Area and River Islands. These communities have pushed Lathrop' s population well over the 12, 980 projection for year 2010 ( as of January 2011, the City of Lathrop' spopulation was estimated at over 18, 656) hence the need for an increase in facilities. The 2003 update increased the fee significantly for both Single Family and Multi -Family residential dwelling units and added a Senior Center to the list of facilities.

The 2005 update to the Culture and Leisure CFF split the fee into two separate components; Parks and Facilities. This was done to ensure enough monies were collected for both areas of culture and leisure as well as to ensure the importance of both sub -components. This update also included an increase to capture the effects of inflation.

The Culture and Leisure CFF was reevaluated May 3, 2018 adjusting the previous CFF to reflect the effects of inflation. The studies also included adjusting the total library space to 31, 100 square feet at build out as well as a reduction in the library square footage standard to 475 square feet per 1, 000 residents.

Additionally, the 5. 76 acre of land associated with the Generation Center was added to the CFF program with no net increase to the CFF rates for the Culture and Leisure Facility sub -component.

The Central Lathrop Specific Plan ( CLSP) Neighborhood Park Capital Facility Fee was updated on February 8, 2021, to be consistent with the actual park development costs realized by the primary developer of the CLSP. The cost to construct the CLSP neighborhood park improvement was estimated to be $ 298, 501 per acre in the development agreement. Subsequently, it was inflated to $ 322, 65 per acre in 2020, based on the ENR 20 -City Construction Cost Index (the " CCI"). Based on the actual development costs for the Phase 1A Neighborhood Park constructed by Saybrook in 2020, the total cost increased to 390, 251 per acre.

In October 2024, the Culture and Leisure Capital Facility Fee was updated to reflect current facility plans and costs and to align the calculation with the City' s 2022 General Plan buildout population assumptions.

The update consolidated library, senior center, gym or youth center, and an expansion to the community center, into a single planned 66, 000 -square -foot community center ( estimated at $ 90 million) intended to provide the same functions, and it deducted the performing arts center cost to avoid double -counting Report Period: July 1, 2024 to June 30, 2025 Page 8
39 Capital Facility Fee Funds Report
Culture and Leisure Capital Facility Fee — 2260
because that function is also included in the Municipal Service Facilities CFF. The Culture and Leisure park components were not substantively recalculated. They were inflation -adjusted and converted to a per -square -foot charge for consistency.
b. Amount of Fee: The amount ofthe fee varies by land use type and location.

Accounting Period
July 1, 2024 to Dec. 31, 2024 January 1, 2025 to June 30, 2025 Land Use Type ( Unit)
Historical Lathrop
North Harlan
Mossdale Village
Central
Lathrop
Historical
Lathrop North
Harlan
Mossdale
Village
Central Lathrop
Single Family DU) DU) 1, 000 scft) 1, 000 scft)
Neighborhood Parks 6, 868 4, 781 2, 695 1, 536
Community/ Linear
Parks 4, 760 1, 868
Facilities 4, 208 4, 208 1, 063 1, 063
Multi -Family DU) DU) 1, 000 sqft) 1, 000 sqft)
Neighborhood Parks 4, 906 3, 415 5, 076 2, 624
Community/ Linear
Parks 3, 401 3, 518
Facilities 3, 004 3, 004 2, 190 2, 190
Accounting Period
July 1, 2024 to Dec. 31, 2024 January 1, 2025 to June 30, 2025 Land Use Type
Unit)
Mossdale
Landing
Stewart Tract Mossdale Landing Stewart Tract
Single Family DU) DU) DU) 1, 000 sqft)
Parks 6, 867 6, 926
Facilities 2, 757 4, 208 2, 781 1, 063
Multi -Family DU) DU) DU) 1, 000 sqft)
Parks 4, 904 4, 946
Facilities 1, 968 3, 004 1, 986 2, 190

2. Fund Information ( During Reporting Period)
Source Amount
a. Beginning Fund Balance as
of July 1, 2024 20, 527, 494
b. Fees Collected 4,90, 249. 56
c. Interest Earned 1,86, 565. 2
Report Period: July 1, 2024 to June 30, 2025 Page 9
40 Capital Facility Fee Funds Report
Culture and Leisure Capital Facility Fee — 2260
d. Expenditures 34, 253. 34)
e. Transfers Out 43, 912. 20)
f. Refunds
g. Ending Fund Balance as of
June 30, 2025 26, 126,44
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2260 expended during the reporting period? Yes b. Transfers and Loans: Description of Transfers and Loans made from fund.

Were funds from Fund 2260 transferred or loaned during the reporting period? Yes A total of $4, 951, 198 was transferred from Fund 2260 to the following projects; 3, 750, 000 to Lathrop Community Center Project PK 22- 05 300, 00 to the Cricket Pitch on Banta School Property Project PK 22- 40 119, 830 to reimburse developer
781, 368to reimburse CLSP for parks
c. Refunds: Description of refunds made during reporting period.

Were funds from Fund 2260 refunded during this reporting period? No

The Culture and Leisure Capital Facility Fee Fund 2260 currently has funds appropriated to any Capital Improvement Program ( CIP) Projects for Fiscal Year 2024-5. Please refer to the City' s 2023-028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Project Amount o of Im • rovements
New Lathrop Community Center,
PK 22- 05
6, 599, 999 100
Shilling Avenue Park Improvements,
PK 22- 34
370, 00 27
Total 6, 969,99
Report Period: July 1, 2024 to June 30, 2025 Page 10
41 Capital Facility Fee Funds Report
Municipal Services Capital Facility Fee — 2270
Municipal Services Capital Facility Fee — 2270

1. Fee Information
a. Description and History of Fee: The Municipal Services Capital Facility Fee is collected to fund costs related to a new City Ha11, Police Station, Corporation Yard and Animal Shelter needed to support the growth of the City.

The Municipal ( City) Services Capital Facility Fee ( CFF) was first implemented with the adoption of the October 10, 1990 CFF Study Report. The original fee collected monies to fund a new city hall, police station and a corporation yard for field staff ( operations and maintenance). The Capital Facility Fee program was reevaluated in 1994 and in addition to the facilities previously adopted with the original study; a component for an Animal Control Facility was added. Adopting this change increased the fee for residential land use types as well as for commercial and industrial.

In September of 2003, the City Council again adopted a revision to the Municipal Services CFF. This amendment to the CFF was implemented to ensure that the City was collecting enough monies to fund the facilities needed to accommodate new development as the existing facilities ( excluding city hall) do not meet the City' sservice level standards.

The City was contracted with the City of Manteca for its animal control shelter facilities since Lathrop did not have one of its own.

The City' sPolice Services Department, previously contracted with the San Joaquin County Sheriff' s Department, is too small to expand for the City' s anticipated growth. At build out there will not be enough room to expand for the projected 1. 5 sworn peace officers per 1, 000 residents.

The Corporation Yard facility that houses most of the City' sfield staff (maintenance and operations) as well as much of the City' s equipment and vehicles is too small to accommodate for growth.

A 2005 update to the Municipal Services CFF increased the fee to reflect the effects of inflation.

Additionally, a Performing Arts Center was added to accommodate the City' s growing population and a Wireless Network was added to ensure that the City is keeping up with technology to offer residents and employees the highest level of service.

On August 3, 2015 City Council approved entitlements for the South Lathrop Specific Plan ( SLSP) area.

In October 2024, the Municipal Service Facilities Capital Facility Fee was updated to reflect revised facility needs and updated assumptions, including updated police facility costs based on the actual cost of the first police station constructed in 2021, updates to City Hall needs ( removing space previously allocated for the fire department), separating the fleet maintenance facility cost from the corporation yard estimate, and updating the persons - per -household and square -feet -per -employee assumptions used to Report Period: July 1, 2024 to June 30, 2025 Page 11
42 Capital Facility Fee Funds Report
Municipal Services Capital Facility Fee — 2270
allocate costs. The fee calculation was also updated using the City' s updated buildout population and employee estimates from the 2022 General Plan.
b. About the Fee: The amount of the fee varies by land use type and location. The fees are as follows:

Accounting Period
July 1, 2024 to
December 31, 2024
January 1, 2025 to
June 30, 2025
Land Use Type ( Unit)
East Lathrop/ North Harlan/
Mossdale Village/
Crossroads/
Central Lathrop/ Stewart Tract
DU)
East Lathrop/ North Harlan/
Mossdale Village/
Crossroads/
Central Lathrop/ Stewart Tract
1, 000 scft)
Single Family
Residential
4, 714 1, 959
Multi -Family
Residential 3,67 4, 035
Service Retail
Per 1, 000 sf.) 3, 072 2, 941
Other Non -Residential
Per 1, 000 sf.). 1, 859 1, 765
Accounting Period
July 1, 2024 to
December 31, 2024
January 1, 2025 to
June 30, 2025
Land Use Type Mossdale Landing Mossdale Landing
Single Family
Residential
4, 631 4, 671
Multi -Family
Residential
3,09 3,37
Service Retail
Per 1, 000 sf.) 3, 006 3, 032
Other Non -Residential
Per 1, 000 sf.) 1, 819 1, 835
Accounting Period
July 1, 2024 to
December 31, 2024
January 1, 2025 to
June 30, 2025
Land Use Type
South Lathrop Specific Plan —
SLCC/ Non SLCC,
Gateway Business Park
South Lathrop Specific Plan —
SLCC/ Non SLCC,
Gateway Business Park
Service Retail
Per 1, 000 sf.) 3, 072 2, 941
Report Period: July 1, 2024 to June 30, 2025 Page 12
43 Capital Facility Fee Funds Report
Municipal Services Capital Facility Fee — 2270
Other Non -Residential
Per 1, 000 sf.) 1, 859 1, 765

2. Fund Information (During Reporting Period)
Source Amount
a. Beginning Fund Balance as of July 1, 2024 6, 011, 505 b. Fees Collected 4, 250, 620
c. Interest Earned 762, 395
d. Expenditures
e. Transfers Out 1, 949, 58)
f. Refunds
g. Ending Fund Balance as of June 30, 2025 9, 074, 923
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2270 expended during the reporting period? No b. Description of Transfers and Loans made from fund.

Were funds from Fund 2270 transferred or loaned during the reporting period? Yes A total of $5, 017, 900 was transferred from Fund 2270 to the following projects; 377, 900 was transferred to the City Hall Facility service debt. 4, 640, 000 was transferred to the Corp Yard Project, GG 21- 13. c. Description of refunds made during reporting period.

Were funds from Fund 2270 refunded during this reporting period? No

The Municipal Services Fee Fund 2270 currently has funds appropriated to the Capital Improvement Program (CIP) Project listed below for Fiscal Year 2024-5. Please refer to the City' s 2023-028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Project Amount of Improvements
Corp Yard Improvements, GG 21- 13 10,20, 000 100
Total 10,20, 000
Report Period: July 1, 2024 to June 30, 2025 Page 13
44 Capital Facilities Fee Funds Report
Storm Drainage Capital Facility Fee — 2280
Storm Drainage Capital Facility Fee — 2280

1. Fee Information
a. Description and History of Fee: This Storm Drainage Capital Facility Fee ( CFF) is collected to fund storm drainage improvements to support new development. The Crossroads fee is an exception in that it is collected to reimburse the developer for infrastructure that was built with the original project.

On February 20, 1987, San Joaquin County Ordinance Number 3297 established a fee of $1, 000 per gross acre of land to reimburse the costs of establishing the storm drain system known as " City Service Zone 1". This fee was to be updated every year by the Engineering News Record ( ENR) Construction Cost Index for inflation.

On July 7, 1992, the City adopted a Storm Drain Master Plan which identified the facilities in place, existing deficiencies, and needed improvements for terminal storm drainage in areas of the existing City and surrounding area. Storm drainage CFFs were established in 1994. The City' s only terminal storm drain system consisted of the former County Service area 4, Zones A & B ( designed by the County), which included most of the populated areas of the City at that time. This system has been expanded on several occasions as a result of new growth and has been re -designated as " Storm Drain City Zone 1".

The Storm Drainage Capital Facility Fee was reevaluated in September 2, 2003 and again in August 1, 2005. The studies included adjusting the previous Capital Facility Fee in Historic Lathrop ( East) to reflect the effects of inflation. Additionally, new CFF fees were established for the Mossdale development area to be used as funding for the improvement the development community would be constructing.

New development that occurs in the areas surrounding City Zone 1 must pay a fee to the Area ofBenefit District No. 6, which was established by San Joaquin County ( Ord. 3297) to reimburse the capital costs of constructing the trunk and outfall lines of the current system.

On August 3, 2015 City Council approved entitlements for the South Lathrop Specific Plan ( SLSP) area.

1. 7 million to construct an outfall facility that would be allocated equally to the three developments that will benefit from this facility.

In June 2019, the Central Lathrop Specific Plan ( CLSP) CFF Study established a fee program for the CLSP area. The CLSP CFF Study identified approximately $ 13. 9 million storm drainage improvements.

In October 2019 the SLSP and the Lathrop Gateway Business Park Specific Plan ( LGBPSP) CFF study provided an update to the CFF program for the SLSP area and established a fee program for the LGBPSP area. The LGBPSP CFF Study identified approximately $ 12. 8 million storm drainage facilities improvements. In May 2020, the CFF program was updated based on actual facility construction cost for SLSP and LGBPSP.

In July 2022, the CLSP storm drainage fees were updated to reflect the actual costs of the storm drainage facilities serving the area. The effective date of the updated fees were October 10, 2022.

Report Period: July 1, 2024 to June 30, 2025 Page 14
45 Capital Facilities Fee Funds Report
Storm Drainage Capital Facility Fee — 2280
In October 2024, the CLSP Storm Drainage Improvements WS4 CFF was updated because additional parcels were identified as benefiting from the WS4 storm drainage improvements, expanding the WS4 fee service area to 217. 03 net acres. The reimbursable cost basis was updated to a total of $8, 759, 585 (2024$), incorporated original 2017 WS4 facilities, additional 2021 facilities, inflation to 2024 dollars, and an added share of pump station costs. The fee methodology was also revised to comply with AB 602 by allocating costs based on weighted acreage using runoff coefficients and converting residential charges to a
per -square - foot basis.
b. Amount of Fee: The amount of the fee varies by land use type and location.

July 1, 2024 to
December 31, 2024
January 1, 2025 to
June 30, 2025
and Use Type Unit East
Lathro
North
Harlan
Mossdale East
Lathrop
North
Harlan
Mossdale
Low Density Residential DU 1,11 1,11 424 1,20 1,20 428
Medium Density Residential DU 291 294
High Density Residential DU 228 230
Village Commercial Acre 5, 259 5, 305
Service Commercial Acre 7, 637 7, 637 5, 259 7,03 7,03 5, 305 Freeway Commercial Acre 13, 704 13, 704 5, 259 13, 823 13, 823 5, 305 Neighborhood Commercial Acre 3,92 3,92 5,29 3, 422 3, 422 5, 305 Limited Industrial Zone 5 Acre 10, 660 10, 660 10, 752 10, 752 Limited Industrial Other Zones Acre 5, 942 5, 942 5, 993 5, 993 General Industrial Acre 7, 214 7, 214 7, 277 7, 277
Transit Station ( Lathrop Road; Acre 6, 788 6, 788 6, 847 6, 847 Fire Station (Yosemite) Acre 7, 637 7, 637 7,03 7.03
Area of Benefit 6 Acre 2, 961 2, 987
crossroads Land Use Type Unit July 1, 2024 to
Dec. 31, 2024
Jan. 1, 2025 to
June 30, 2025
Onsite Acre 15, 825 15, 963
Offsite Acre 9, 024 9, 103
July 1, 2024 to
December 31, 2024
January 1, 2025 to
June 30, 2025
Land Use Type Unit CLSP
Storm Drainage
WS2) (DU)
CLSP
Storm Drainage
WS4)
CLSP
Storm Drainage
WS2) (DU)
CLSP
Storm Drainage
WS4) (1, 000 sqft)
A11 Development Acre 65, 592 49, 073 66, 163
Warehouse Acre 43, 971
Commercial Acre 38, 475
Single Family DU/ 1, 000 sqft 10, 454 10, 545 1, 842
Multi -Family DU/ 1, 000 sqft 3, 639 3, 671 2, 114
Report Period: July 1, 2024 to June 30, 2025 Page 15
46 Capital Facilities Fee Funds Report
Storm Drainage Capital Facility Fee — 2280
July 1, 2024 to
December 31, 2024
January 1, 2025 to
June 30, 2025
Land Use Type Unit SLSP -
Non SLCC
Storm Drainage)
SLSP - Non SLCC
Regional
Storm Drainage)
SLSP -
Non SLCC
Storm Drainage)
SLSP — Non SLCC
Regional
Storm Drainage)
OFC Commercial 1, 000 sf. 75, 992 5, 820 76, 654 5, 870 Limited WHS 1, 000 sf. 75, 992 5, 820 76, 654 5, 870
Warehouse 1, 000 sf. 75, 992 5, 820 76, 654 5, 870
July 1, 2024 to
December 31, 2024
January 1, 2025 to
June 30, 2025
Land Use Type Unit Lathrop Gateway
Storm Drainage)
Lathrop Gateway
Regional
Storm Drainage)
Lathrop Gateway
Storm Drainage)
Lathrop Gateway
Regional
Storm Drainage)
Shopping Center 1, 000 sf. 4, 565 432 4, 605 436
Office Park 1, 000 sf. 4, 005 379 4, 040 382
Industrial Park 1, 000 sf. 2, 477 234 2, 498 236
Warehouse 1, 000 sf. 2, 477 234 2, 498 236

2. Fund Information (During Reporting Period)
Source Amount
a. Beginning Fund Balance as of July 1, 2024 89, 052)
b. Fees Collected 2, 514, 481
c. Interest Earned 65, 555
d. Expenditures 2, 508, 806)
e. Transfers Out
f. Refunds
g. Ending Fund Balance as of June 30, 2025 17, 821)
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2280 expended during the reporting period? Yes A total of $2, 083, 278 was expensed from Fund 2280 to the following projects; 243, 763 for the City' sshare of the South Lathrop' sRegional Outfall Structure. 61, 146 for Central Lathrop Specific Plan
1, 778, 457to reimburse developers for constructing public improvements. b. Description of Transfers and Loans made from fund.

Were funds from Fund 2280 transferred or loaned during the reporting period? No Report Period: July 1, 2024 to June 30, 2025 Page 16
47 Capital Facilities Fee Funds Report
Storm Drainage Capital Facility Fee — 2280
c. Description of refunds made during reporting period.

Were funds from Fund 2280 refunded during this reporting period? No

The Storm Drainage Capital Facility Fee Fund 2280 currently does not have funds appropriated to any Capital Improvement Program ( CIP) Projects for Fiscal Year 2024-5. Please refer to the City' s 2023- 2028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Report Period: July 1, 2024 to June 30, 2025 Page 17
48 Capital Facilities Fee Funds Report
Administration Capital Facility Fee — 2290
Administration Capital Facility Fee — 2290

1. Fee Information
L fhitop,
a. Description and History of Fee: The purpose of the capital facility fee program is to provide a source of revenue by which new development within the City will contribute a fair and proportionate share of the cost of providing infrastructure and community facilities commensurate with the benefits received. Under Government Code Section 66000 et seq., the City is required to separately account for revenues and expenditures within the capital facilities fee funds and is allowed to apply an appropriate fee for administration of Transportation, Municipal Services, Culture and Leisure, and Regional Levee Fees as identified in the report titled " City of Lathrop Capital Facilities Fees, As Amended September 2, 2003" and the " Mossdale Tract Area Regional Urban Level of Flood Protection Levee Impact Fee, Nexus Study, Adopted by SJAFCA, Resolution No. 18- 21, November 8, 2018".

In June 2019, the Central Lathrop Specific Plan (CLSP) CFF Study established fees to reimburse past expenditures associated with developing the CLSP area. In October 2019, the Lathrop Gateway Business Park Specific Plan ( LGBPSP) CFF study established a fee program. In May 2020, the CFF program was updated based on actual facility construction costs for the SLSP and LGBPSP development areas.
b. Amount of Fee: This fee is calculated as a percentage of the capital facilities fees charged prior to issuance of the building permit. Currently the fee is 3% of all capital facility fees applicable to the project.

2. Fund Information ( During Reporting Period)
Source Amount
a. Beginning Fund Balance as of July 1, 2024 4, 636,90
b. Fees Collected 885, 296
c. Interest Earned 254, 836
d. Expenditures
e. Transfers Out 100, 00)
f. Refunds
g. Ending Fund Balance as of June 30, 2025 5, 676, 821
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2290 expended during the reporting period? No Report Period: July 1, 2024 to June 30, 2025 Page 18
49 Capital Facilities Fee Funds Report
Administration Capital Facility Fee — 2290
b. Description of Transfers and Loans made from fund.

Were funds from Fund 2290 transferred or loaned during the reporting period? Yes A total of $ 100, 00 was transferred from Fund 2290 to cover the Capital Facility Fee Program administration costs.
100, 00 was transferred to the Admin Services, General Fund. c. Description of refunds made during reporting period.

Were funds from Fund 2290 refunded during this reporting period? No

The Administration Capital Facility Fee Fund 2290 does not currently have funds appropriated to any Capital Improvement Program ( CIP) Projects for Fiscal Year 2024-5. Please refer to the City' s 2023- 2028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Report Period: July 1, 2024 to June 30, 2025 Page 19
50 Capital Facilities Fee Funds Report
Environmental Mitigation Capital Facility Fee — 2310 LtIm rap Environmental Mitigation Capital Facility Fee — 2310

1. Fee Information
a. Description and History of Fee: One of the environmental mitigation measures required in relation to development on the west side ofInterstate 5 is the protection of habitat for the Riparian Brush Rabbit. To meet this requirement, land in the " oxbow" along the San Joaquin River was acquired, fenced, and maintained as protected habitat. This fee will be used to acquire the land and construct a fence needed to protect the rabbit as identified in the report titled " City of Lathrop Capital Facilities Fees, As Amended September 2, 2003." Ongoing maintenance costs are to be funded through an endowment or other means, and are not included herein.
b. Amount of Fee: The amount of the fee varies by land use type and location and is only applicable to the Mossdale Village/ Landing area.

July' 1, 2024 to
December 31, 2024
January 1, 2025 to
June 30, 2025
Low Density Residential 248 250
Medium Density
Residential
140 141
High Density Residential 51 51
Village Commercial 1,85 1,96
Service Commercial 1,85 1,96
Freeway Commercial 1,85 1,96
Waterfront Resort
Commercial
1,85 1,96

2. Fund Information During Reporting Period
Source Amount
a. Beginning Fund Balance as of July 1, 2024
b. Fees Collected 23, 762
c. Interest Earned 315
d. Expenditures 24, 077)
e. Transfers Out
f. Refunds
g. Ending Fund Balance as of June 30, 2025
Report Period: July 1, 2024 to June 30, 2025 Page 20
51 Capital Facilities Fee Funds Report
Environmental Mitigation Capital Facility Fee — 2310
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2310 expended during the reporting period? No b. Description of Transfers and Loans made from fund.

Were funds from Fund 2310 transferred or loaned during the reporting period? No c. Description of refunds made during reporting period.

Were funds from Fund 2310 refunded during this reporting period? No

3. Planned Projects for Fiscal Year 2024-025: Identification of each improvement on which reportable fees will be expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that will be funded with reportable fees:

The Environmental Mitigation Fund 2310 does not currently have funds appropriated to any Capital Improvement Program ( CIP) Projects for Fiscal Year 2024-5. Please refer to the City' s 2023-028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Report Period: July 1, 2024 to June 30, 2025 Page 21
52 Capital Facilities Fee Funds Report
Regional Levee Impact Fee — 2315
Regional Levee Impact Fee — 2315

1. Fee Information
a. Description and History of Fee: In 2007, the legislature passed California State Bill 5 ( SB5), which requires the state to develop and adopt a comprehensive Central Valley Flood Protection Plan ( CVFPP), The CVFPP was approved by the Central Valley Flood Protection Board in June 2012. In January 2017, Lathrop City Council approved the Interim Urban Levee of Flood Protection Levee Impact Fee ( Nexus Study), Ordinance No. 17- 374, adding the fee to the Capital Facility Fee Program to fund the design and construction of levee system improvements to provide 200 -year flood protection to the Reclamation District 17 area.

On December 10, 2018, Lathrop City Council approved the Regional Levee Impact Fee Collection Agreement with San Joaquin Area Flood Control Agency ( SJAFCA) and Cities of Lathrop, Manteca, Stockton and San Joaquin County for the collection of the San Joaquin Area Flood Control Agency Mossdale Tract Area Regional Urban Levee Flood Protection Development Impact Fee. Replacing the Interim Urban Levee of Flood Protection Levee Impact Fee as a result. The Regional Levee Impact Fee is collected by the Land Use Agencies in accordance with the agreement for collection of the San Joaquin Area Flood Control Agency Mossdale Tract Area Regional Urban Level ofFlood Protection Development Impact Fee.

On September 12, 2022, Lathrop City Council approved the Nexus Study Update for the Regional Urban Level of Flood Protection Levee Impact Fee. This update reflects an updated program cost estimate that addresses climate change and updates to program funding from other sources. The effective date of the updated fee was November 11, 2022.
b. Amount of Fee: The amount of the fee varies by planned new development land use type.

Unit July 1, 2024 to
November 10, 2024
November 11, 2024 to
June 30, 2025
Land Use
Type
Per Gross
Developable
Levee Impact Admin
Fee
Levee Impact Admin Fee
Single Family
Residential
Acre 23, 333 718 23, 333 718
Multi -Family
Residential
Acre 21, 835 672 21, 835 672
Commercial Acre 22, 077 679 22, 077 679
Industrial Acre 17, 293 532 17, 293 532
Report Period: July 1, 2024 to June 30, 2025 Page 22
53 Capital Facilities Fee Funds Report
Regional Levee Impact Fee — 2315

2. Fund Information During Reporting Period
Source Amount
a. Beginning Fund Balance as of July 1, 2024
b. Fees Collected 1, 749, 314
c. Interest Earned 9,96. 43
d. Expenditures 1, 759, 311)
e. Transfers Out
f. Refunds
g. Ending Fund Balance as of June 30, 2025
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2315 expended during the reporting period? Yes A total of $1, 715, 074 was expensed from Fund 2315 to SJAFCA pursuant to the approved Regional Levee Impact Fee Collection Agreement for the Mossdale Tract Area Regional Urban Levee Flood Protection Development Impact Fee.
b. Description of Transfers and Loans made from fund.

Were funds from Fund 2315 transferred or loaned during the reporting period? No c. Description of refunds made during reporting period.

Were funds from Fund 2315 refunded during this reporting period? No

The Regional Levee Impact Fee Fund 2315 will not have funds appropriated to any Capital Improvement Program ( CIP) Projects. Its purpose is to collect and transmit the development impact fee to SJAFCA to fund construction of the development impact fee projects identified in the Mossdale Tract Area Regional Urban Level of Flood Protection Levee Impact Fee Study " Final Nexus Study" adopted November 8, 2018, SJAFCA, Resolution No. 18- 21.

Report Period: July 1, 2024 to June 30, 2025 Page 23
54 Capital Facilities Fee Funds Report
West Central Lathrop Transportation Capital Facility Fee — 2320 West Central Lathrop Transportation Capital Facility Fee — 2320

1. Fee Information
a. Description and History of Fee: The West/ Central Lathrop Regional Transportation Fee is a supplemental fee collected, in conjunction with the original 1997 WLSP ( West Lathrop Specific Plan) Regional Transportation Fee, in order to fund traffic improvements needed as a result of new development.

Negotiations between developers and City staff concluded that a West/ Central Lathrop Regional Traffic Impact Fee would be added to the Capital Facilities Fee ( CFF) Program that would help to fund projects identified in the 1997 WLSP Regional Fee as well as to fund newly added improvements.

The W/ C Lathrop Regional Transportation Fee was derived as a result of a traffic study performed by TJKM Transportation Consultants that evaluated trips to / from the regional areas of Lathrop to / from five major service areas within Lathrop: Central Lathrop Specific Plan Area, Mossdale Village, River Islands, Historic Lathrop and area outside of the city limits.

The West Central Lathrop Transportation CFF was reevaluated January 23, 2019. After further review City staff found the project cost were consistent with current cost estimates to construct the improvements with exception of the Louise Avenue Interchange and the Paradise Avenue Interchange improvements.

As a
result, the fee study includes adjusting the previous CFF to reflect the effects of inflation as well as an increase to the rates for Central Lathrop, Mossdale Village and River Islands.

In July 2022, the West Central Lathrop Transportation CFF was updated to include new traffic signals.

The effective date of the updated fees were October 10, 2022 In October 2024, the West Central Lathrop Transportation CFF was updated because the City' s transportation capital improvement plan and funding assumptions for the West Lathrop Specific Plan area changed and the existing fee was no longer sufficient or properly allocated to cover the remaining transportation improvements needed to maintain the City' stargeted traffic service level in the WLSP area.

Specifically, the update incorporated new transportation modeling and dwelling unit equivalent ( DUE) factors from Fehr & Peers ( May 17, 2024), added recently identified traffic signal and frontage landscaping improvements, updated certain project cost estimates, and reevaluated expected contributions from overlapping impact fee programs ( San Joaquin RTIF and WLSP RTIF) after prior reductions, then revised the allocation methodology ( including converting residential to per -square -foot for AB 602) so costs are distributed proportionately across all West Central Lathrop projects rather than calculated separately by sub -area.

Report Period: July 1, 2024 to June 30, 2025 Page 24
55 Capital Facilities Fee Funds Report
West Central Lathrop Transportation Capital Facility Fee — 2320 b. Amount of Fee: The amount of the fee varies by land use type and location.

July 1, 2024 to December 31, 2024
Land Use Type Unit
Mossdale
Village
Mossdale
Landing
Central
Lathrop
River Islands —
Stewart Tract
Single Family DU 4, 325 3, 261 4, 539 4, 972
Multi -Family DU 2, 667 2, 005 2, 787 3, 052
Retail
Commercial
1, 000
scft 6, 851 5, 170 5, 784 8, 263
Service/ Office
Commercial
1, 000
sqft 6, 204 4, 685 4, 225 4, 562
January 1, 2025 to June 30, 2025
Land Use Type Unit
Mossdale
Village
Mossdale
Landing
Central
Lathrop
River Islands —
Stewart Tract
Single Family 1, 000
sqft 3, 581 3, 290 3, 581 3, 581
Multi -Family 1, 000
sqft 7, 141 2, 022 7, 141 7, 141
Retail
Commercial
1, 000
sqft 6, 807 5, 215 6, 807 6, 807
Service/ Office
Commercial
1, 000
sqft 6,21 4, 726 6,21 6,21
Warehouse 1, 000
t
920 920 920

2. Fund Information (During Reporting Period)
Source Amount
a. Beginning Fund Balance as of July 1, 2024 16, 651, 804 b. Fees Collected 7, 239, 545
c. Interest Earned 976, 62
d. Expenditures 733, 000)
e. Transfers Out 608, 406. 00)
f. Refunds
g. Ending Fund Balance as of June 30, 2025 23, 526, 605 a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2320 expended during the reporting period? Yes A total of $148, 837 was expensed from Fund 2320 to the following projects; 46, 071 To reimburse developers for construction public improvements Report Period: July 1, 2024 to June 30, 2025 Page 25
56 Capital Facilities Fee Funds Report
West Central Lathrop Transportation Capital Facility Fee — 2320 102, 766 to reimburse developers for Central Pacific Street and Spartan Way b. Description of Transfers and Loans made from fund.

Were funds from Fund 2320 transferred or loaned during the reporting period? Yes A total of $3, 503, 406 was transferred from Fund 2320 to cover the cost of the following projects; 3, 000,00 was transferred to Louise Avenue and I-5 Improvements Project PS 06-6 503, 406 was transferred to Manthey Bridge Project PS 12- 04 c. Description of refunds made during reporting period.

Were funds from Fund 2320 refunded during this reporting period? No

The West Central Lathrop Transportation Capital Facility Fee Fund 2320 currently has funds appropriated to any Capital Improvement Program ( CIP) Projects for Fiscal Year 2024-5. Please refer to the City' s 2023-028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Project Amount of Improvements
Manthey Road Bridge
Replacement, PS 12- 04
1, 682, 268 4
Louise Avenue/ I-5Interchange
Right -of -Way. PS 06-6
6,88, 975 61
Total 8, 372, 243
Report Period: July 1, 2024 to June 30, 2025 Page 26
57 Capital Facilities Fee Funds Report
West Lathrop Specific Plan Regional Transportation Impact Fee — 2330 West Lathrop Specific Plan Regional Transportation Impact Fee — 2330

1. Fee Information
a. Description and History of Fee: The West Lathrop Specific Plan ( WLSP) Regional Transportation Impact Fee is collected from planned communities in the Central Lathrop area, Mossdale Village area and the River Islands area to fund regional road improvements needed as a result of new development west of Interstate 5.

The original fee was first developed in 1997 by the Fee Development Committee which is comprised of representatives from the City of Lathrop, San Joaquin Council of Governments, Caltrans, The Crane Transportation Group and Califia ( a River Islands affiliate). The Committee was to evaluate existing transportation facilities to determine if they were sufficient to accommodate for new growth and, if insufficient, to identify the need for additional street infrastructure.

Upon determining a
transportation level of service ( LOS), the development projections for the City and project level impacts, a list of transportation system improvements was compiled. This list of improvements was utilized to determine a fee to fund the necessary improvement projects.

The West Central Lathrop Transportation CFF was reevaluated May 3, 2018. After further review City staff found the project cost were consistent with current cost estimates to construct the improvements with exception of the Louise Avenue Interchange and the Paradise Avenue Interchange improvements.

As a result, the fee study includes adjusting the previous CFF to reflect the effects of inflation as well as an increase to the rates for Central Lathrop, Mossdale Village and River Islands.

In October 2024, West Lathrop Specific Plan Regional Transportation Impact Fee was updated to adjust the WLSP RTIF structure by adding a new industrial/ warehousing fee category ( based on the relative dwelling -unit -equivalent relationship between retail commercial and industrial/ warehousing land uses) and converting the residential fee from a per -dwelling -unit charge to a per -building -square -foot charge to be consistent with how the updated transportation fees are presented in the study. b. Amount of Fee: The amount ofthe fee for the West Lathrop Specific Plan Regional Transportation Fee varies by land use type.

Land Use Type Unit
July 1, 2024 to
December 31, 2024
DU)
January 1, 2025
to June 30, 2025
1, 000 scft)
January 1, 2025
to June 30, 2025
DU)
Mossdale
Village/ Landing, Central
Lathrop, River
Islands/ Stewart Tract
Mossdale Village,
Central Lathrop,
River
Islands/ Stewart
Tract
Mossdale
Landing
Single Family DU/ 1, 000
sqft
426 167 430
Multi Family DU/ 1, 000
sqft
499 516 503
Report Period: July 1, 2024 to June 30, 2025 Page 27
58 Capital Facilities Fee Funds Report
West Lathrop Specific Plan Regional Transportation Impact Fee — 2330 Retail
Commercial
1, 000 sqft 2, 384 2, 405 2, 404
Service
Commercial
1, 000 sqft 661 667 667
Warehouse 1, 000 sqft 325

2. Fund Information During Reporting Period
Source Amount
a. Beginning Fund Balance as of July 1, 2024 615, 268
b. Fees Collected 1,37, 029
c. Interest Earned 80, 101
d. Expenditures 12,78)
e. Transfers Out 563, 022
f. Refunds
g. Ending Fund Balance as of June 30, 2025 2, 383, 243
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2330 expended during the reporting period? Yes A total of $8, 440 expensed from Fund 2330 to the following projects; 8, 440 to reimburse development for constructed public improvements. b. Description of Transfers and Loans made from fund.

Were funds from Fund 2330 transferred or loaned during the reporting period? Yes A total of $100, 00 was transferred from Fund 2330 to the Manthey Bridge Project PS 12- 04 c. Description of refunds made during reporting period.

Were funds from Fund 2330 refunded during this reporting period? No

The West Lathrop Specific Plan Regional Transportation Impact Fee Fund 2330 currently has funds appropriated to the Capital Improvement Program ( CIP) Project for Fiscal Year 2024-5. Please refer to the City' s 2023-028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Report Period: July 1, 2024 to June 30, 2025 Page 28
59 Capital Facilities Fee Funds Report
West Lathrop Specific Plan Regional Transportation Impact Fee — 2330 LeiTOD Project Amount of Improvements
Manthey Road Bridge Replacement,
PS 12- 04
472, 150 1
Total 472, 150
Report Period: July 1, 2024 to June 30, 2025 Page 29
60 Capital Facilities Fee Funds Report
Lathrop Local East Fee — 2340 and Lathrop Local West Fee - 2360 Lathrop Local East — 2340 and Lathrop Local West - 2360

1. Fee Information
a. Description and History of Fee: The Regional Transportation Impact Fee ( RTIF) San Joaquin County was adopted by City Council on December 20, 2005. This fee was adopted to address traffic volumes exceeding the capacity of the regional network ofhighways and arterials existing in San Joaquin County.

It was determined that existing funding sources, including federal, state, and local sources, will be inadequate to construct the Regional Transportation Network needed to avoid unacceptable levels of traffic congestion and related adverse impacts.

The City of Lathrop has an existing local and regional transportation capital facilities fee ( CFF) system in place which began with the West Lathrop Regional Transportation Impact Fee adopted in 1997. In 2003, the City created the West/ Central Lathrop Regional Transportation CFF which picked up where the WLSP RTIF ended, by providing for other transportation improvements needed to meet the increase in development in West and Central Lathrop Specific Plan areas. Several other transportation - related CFFs as covered in this report) have been created to address improvements as areas have developed.

The San Joaquin RTIF effectively updates and is incorporated into the WLSP RTIF. RTIF — Lathrop Local East ( Fund 234) was created to account for fees collected from new development in East Lathrop under the new schedule. RTIF — Lathrop Local West (Fund 236) also accounts for fees collected for new development in West Lathrop under the San Joaquin RTIF fee schedule. Both funds will be used in accordance with the RTIF Operating Agreement in their prospective areas. b. Amount of Fee: The amount of the fee varies by land use type and location. The fees are as follows:

Land Use Type Unit July 1, 2024 to
June 30, 2025
Single Family DU 2, 040
Multi Family DU 3, 200
Industrial 1, 000 sf 1, 500
Service/ Office Commercial 1, 000 sf 2,20
Retail Commercial 1, 000 sf 1, 760
Warehouse 1, 000 sf 750
Report Period: July 1, 2024 to June 30, 2025 Page 30
61 Capital Facilities Fee Funds Report
Lathrop Local East Fee — 2340 and Lathrop Local West Fee - 2360

2. Fund 234 - RTIF — Lathrop Local East
Source Amount
a. Beginning Fund Balance as of July 1, 2024 2, 845, 132 b. Fees Collected 37,15
c. Interest Earned 133,17
d. Expenditures
e. Transfers Out 1, 287, 784)
f. Refunds
g. Ending Fund Balance as of June 30, 2025 1, 727,80
Fund 236 - RTIF — Lathrop Local West
Source Amount
a. Beginning Fund Balance as of July 1, 2024 14, 645, 737 b. Fees Collected 3, 240, 523. 77
c. Interest Earned 734, 864
d. Expenditures 29, 384. 13)
e. Transfers Out 7,35, 185)
f. Refunds
g. Ending Fund Balance as of June 30, 2025 10, 856, 555 a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2340 and 2360 expended during the reporting period? Yes A total of $2, 106 was expensed from Fund 2340 and $ 7, 468 was expensed from Fund 2360 to pay San Joaquin Council of Governments for a portion of third party cost to implement the RTIF Program. b. Description of Transfers and Loans made from fund.

Were funds from Fund 2340 and 2360 transferred or loaned during the reporting period? Yes A total of $503, 406 was transferred from Fund 2360 to reimburse development for constructed public improvements.
c. Description of refunds made during reporting period.

Were funds from Fund 2340 and 2360 refunded during this reporting period? No Report Period: July 1, 2024 to June 30, 2025 Page 31
62 Capital Facilities Fee Funds Report
Lathrop Local East Fee — 2340 and Lathrop Local West Fee - 2360

The Lathrop Local East Fee Fund 2340 does not currently have funds appropriated to the Capital Improvement Program ( CIP) Project for Fiscal Year 2024-5.

The Lathrop Local West Fee Fund 2360 currently has funds appropriated to the Capital Improvement Program ( CIP) Project for Fiscal Year 2023-4. Please refer to the City' s 2023-028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Protect Amount of l cavenients
Manthey Road Bridge Replacement,
PS 12- 04
1, 682, 268 4
Total 1, 682, 268
Report Period: July 1, 2024 to June 30, 2025 Page 32
63 Capital Facilities Fee Funds Report
Regional Transportation Impact Fee San Joaquin County — 2350 Regional Transportation Impact Fee San Joaquin County — 2350

The Regional Transportation Impact Fee San Joaquin County ( Fund 235) meets the agreement requirement to pay ten ( 10) percent ofthe total fee revenue collected to the County of San Joaquin for the purpose of funding RTIF Capital Projects within the County. Fund 235 has been set up to account for this revenue which is paid on a quarterly basis per the RTIF Operating Agreement. b. Amount of Fee: The amount of the fee varies by land use type and location. Only 10 percent of the fee is placed in Fund 2350 ( See Funds 2340 and 2360). The fund amounts are as follows:

2. Fund 235 — RTIF SJ County 10%
Source Amount
a. Beginning Fund Balance as of July 1, 2024
b. Fees Collected 445, 964
c. Interest Earned 7, 915
d. Expenditures 453, 879)
e. Transfers Out
f. Refunds
g. Ending Fund Balance as of June 30, 2025
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2350 expended during the reporting period? Yes A total of $318,0 was expensed from Fund 2350 to pay the County of San Joaquin for the portion of fee dedicated to RTIF Capital Projects within the County. b. Description of Transfers and Loans made from fund.

Were funds from Fund 2350 transferred or loaned during the reporting period? No c. Description of refunds made during reporting period.

Were funds from Fund 2350 refunded during this reporting period? No Report Period: July 1, 2024 to June 30, 2025 Page 33
64 Capital Facilities Fee Funds Report
Regional Transportation Impact Fee San Joaquin County — 2350

The Regional Transportation Impact Fee ( RTIF) Fund 2350 will not have funds appropriated to any Capital Improvement Program ( CIP) Projects. Its purpose is to account for the amount that is paid to the County of San Joaquin for the portion of the fee dedicated to RTIF Capital Projects within the County.

Report Period: July 1, 2024 to June 30, 2025 Page 34
65 Capital Facilities Fee Funds Report
Regional Transportation Impact Fee San Joaquin Council of Governments — 2370 Regional Transportation Impact Fee
San Joaquin Council of Governments 15% — 2370

1. Fee Information
a. Description and History of Fee: The Regional Transportation Impact Fee ( RTIF) Program Operating Agreement establishes the distribution of fee revenue collected by the participating agencies. Ten ( 10) percent of the fees collected by the City of Lathrop and each of the other participating agencies pass directly on to the San Joaquin Council of Governments ( SJCOG) on a quarterly basis. This revenue is used to fund state highway improvements on the RTIF Project List. Another five ( 5) percent is paid directly to SJCOG on a quarterly basis to fund transit improvements on the RTIF Project List. Fund 237 was set up to account for this 15 percent of collected revenue to be passed on to SJCOG. b. Amount of Fee: The amount of the fee is 15 percent of all fees collected under the RTIF Program ( See Funds 2340 and 2360).

2. Fund Information — RTIF SJCOG 15%
a. Beginning Fund Balance as of July 1, 2024
b. Fees Collected 668, 947. 18
c. Interest Earned 11, 857. 1
d. Expenditures 680, 84. 35)
e. Transfers Out
f. Refunds
g. Ending Fund Balance as of June 30, 2025
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2370 expended during the reporting period? Yes A total of $477, 552 was expensed from Fund 2370 to pay the San Joaquin Council of Governments SJCOG) on a quarterly basis per the RTIF Operating Agreement. b. Description of Transfers and Loans made from fund.

Were funds from Fund 2370 transferred or loaned during the reporting period? No c. Description of refunds made during reporting period.

Were funds from Fund 2370 refunded during this reporting period? No Report Period: July 1, 2024 to June 30, 2025 Page 35
66 Capital Facilities Fee Funds Report
Regional Transportation Impact Fee San Joaquin Council of Governments — 2370

The Regional Transportation Impact Fee San Joaquin Council ofGovernments ( SJCOG) Fund 2370 will not have funds appropriated to any Capital Improvement Program ( CEP) Projects. Its purpose is to account for the amount that is paid to SJCOG on a quarterly basis per the RTIF operating Agreement.

Report Period: July 1, 2024 to June 30, 2025 Page 36
67 Capital Facilities Fee Funds Report
Offsite Roadway Improvements Fee — 2380
Offsite Roadway Improvements Capital Facility Fee — 2380

1. Fee Information
a. Description and History of Fee: The Offsite Roadway Improvements Fee was adopted by Lathrop City Council on May 29, 2007. The purpose of the fee is to establish a funding mechanism to pay for the
offsite roadway improvements applicable to the Stanford Crossing of the Central Lathrop Specific Plan CLSP) area. The fee is collected to fund an estimated $ 8. 5 million of buildout improvements at six intersections ( Roth Road/ McKinley Avenue, Lathrop Road/ 5t Street, Lathrop Road/ Airport Road, Louise Avenue/ McKinley Avenue, Louise Avenue/ Airport Road, and Yosemite Avenue/ McKinley Avenue) impacted by the proposed CLSP development located east of Interstate 5. The calculations used for the CLSP offsite intersection. CFFs are based on the assumptions and methodology used to calculate the West/ Central Lathrop Regional Transportation CFF in the 2003 and 2005 CFF studies. The CLSP fair share of offsite intersection costs was allocated to each type of land use based on the adjusted number of afternoon peak hour trips. The cost allocated to each land use type were then divided by the number of units of development to arrive at the appropriate fee for each unit of new development.

In October 2024, the Offsite Roadway Improvements Capital Facility Fee was updated to add a new industrial/ warehousing category ( using relative trip -rate relationships between retail commercial and industrial/ warehousing land uses) and converting the residential fee from a per -dwelling -unit charge to a
per -building -square -foot charge to align with the study' approach for other transportation fees b. Amount of Fee: The amount of the fee varies by land use type and location.

Central Lathrop Land Use
Type
Unit
July 1, 2024 to
December 31, 2025
DU)
January 1, 2025 to
June 30, 2025
1, 000 sqft)
Single Family DU/ 1, 000 sqft 183 72
Multi Family DU/ 1, 000 sqft 113 117
Retail Commercial 1, 000 sqft 234 236
Service/ Office Commercial 1, 000 sqft 171 172
Warehouse 1, 000 sqft 42

2. Fund Information (During Reporting Period)
Source Amount
a. Beginning Fund Balance as of July 1, 2024 249, 46
b. Fees Collected 93, 603
c. Interest Earned 14, 963
d. Expenditures
e. Transfers Out
f. Refunds
g. Ending Fund Balance as of June 30, 2025 358, 062
Report Period: July 1, 2024 to June 30, 2025 Page 37
68 Capital Facilities Fee Funds Report
Offsite Roadway Improvements Fee — 2380
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 2380 expended during the reporting period? No b. Description of Transfers and Loans made from fund.

Were funds from Fund 2380 transferred or loaned during the reporting period? No c. Description of refunds made during reporting period.

Were funds from Fund 2380 refunded during this reporting period? No

The Offsite Roadway Improvements Fee Fund 2380 does not currently have funds appropriated to any Capital Improvement Program ( CIP) Projects for Fiscal Year 2024-5. Please refer to the City' s 2023- 2028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Report Period: July 1, 2024 to June 30, 2025 Page 38
69 Capital Facilities Fee Funds Report
North Lathrop Transportation Capital Facility Fee — 2420 L ir;p_ North Lathrop Transportation Capital Facility Fee — 2420

1. Fee Information
a. Description and History ofFee: The North Lathrop Transportation Fee was established in January 2011.

The purpose of the North Lathrop Transportation Fee is to establish a funding mechanism to pay for the
planning, design, land acquisition, administration ( including construction management and program management), and construction of the interchange and frontage road improvements ( including streets, intersection relocations and traffic signals). The North Lathrop Study Area boundaries include the City of Lathrop, City of Manteca, and unincorporated San Joaquin County that are impacting the Roth/ I5 Interchange and associated frontages
In October 2024, the North Lathrop Transportation Capital Facility Fee was updated to account for overlap with the San Joaquin County Regional Transportation Impact Fee ( San Joaquin RTIF) after SJCOG adopted an RTIF update in June 2024 that included a portion of the I-5/ Roth Road interchange improvement costs, so the City reduced the costs carried in the North Lathrop fee to avoid double -collecting for the same interchange improvements. In the 2024 update, the underlying interchange improvement cost estimate was otherwise maintained ( City staff considered the original estimates still appropriate) and only inflated to current dollars, while the net cost included in the fee was reduced by the amount assumed to be funded through the San Joaquin RTIF. The study also notes that the development trip assumptions used in the fee were not reanalyzed as part of this update ( so a future update is anticipated once trips are reevaluated in light of land use changes such as CLSP Phase 2), and it converts residential charges to a square -footage basis to align with AB 602 requirement b. Amount of Fee: The amount of the fee varies by land use type and location.

City of Lathrop N Lathrop Transportation
Land Use Type Unit
July 1, 2024 to
December 13, 2024
December 14, 2024 to
June 30, 2025
CLSP Residential DU 792. 53
CLSP Commercial/ Limited
Industrial 1, 000 sf 4, 340. 05
889. 68
N Lathrop Area — Residential DU 938. 53
N Lathrop Area —
Commercial 1, 000 sf 62, 081. 72
Gordon Trucking — Industrial Acre 24, 766. 64 16, 377.4 LN Industrial Building 1, 000 sf 1, 322. 47 874. 55
KSC Travel CenterHighway Commercial Acre 126, 084. 71
83, 377. 56
Other Lathrop Projects —
Residential DU 914. 46
604. 21
Highway Commercial 1, 000 sf 99, 066. 5 65, 510. 37
Report Period: July 1, 2024 to June 30, 2025 Page 39
70 Capital Facilities Fee Funds Report
North Lathrop Transportation Capital Facility Fee — 2420 Litr
p
City of Manteca N Lathrop Transportation
Land Use Type Unit
July 1, 2024 to December
13, 2024
December 14, 2024 to
June 30, 2025
Center Point- Light Industrial 1, 000 sf 997. 84
Other Manteca Projects — Light Industrial
1, 000 sf 1, 661. 98
Retail 1, 000 sf 28,05. 72
San Joaquin County N Lathrop Transportation
Land Use Type Unit
July 1, 2024 to December
13, 2024
December 14, 2024 to
June 30, 2025
Intermodal facility — Light Industrial
Acre 58, 602. 76 -
Other SJ County Projects — Residential
Acre 2, 807. 94 -
Retail
Acre 103, 569.

Light Industrial
Acre 8, 728. 94

2. Fund Information during Reporting Period
Source Amount
a. Beginning Fund Balance as of July 1, 2024 650
b. Fees Collected
c. Interest Earned 56
d. Expenditures
e. Transfers Out
f. Refunds
g. Ending Fund Balance as of June 30, 2025 706
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Report Period: July 1, 2024 to June 30, 2025 Page 40
71 Capital Facilities Fee Funds Report
North Lathrop Transportation Capital Facility Fee — 2420 Were funds from Fund 2420 expended during the reporting period? No b. Description of Transfers and Loans made from fund.

Were funds from Fund 2420 transferred or loaned during the reporting period? Yes A total of $11, 437 was transferred from Fund 2420 to Roth Road and I-5 Improvements Project PS 14-

04. c. Description of refunds made during reporting period.

Were funds from Fund 2420 refunded during this reporting period? No L-- ahrop

The North Lathrop Transportation Fee Fund 2420 does not currently have funds appropriated to the Capital Improvement Program ( CIP) Projects for Fiscal Year 2024-5. Please refer to the City' s 2023- 2028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Report Period: July 1, 2024 to June 30, 2025 Page 41
72 Capital Facilities Fee Funds Report
Park in Lieu Fee — 3410
Park in Lieu — 3410

1. Fee Information
a. Description and History of Fee: This fee is collected under the authority of the Quimby Act, California Government Code Section 66477, to fund the acquisition ofparkland needed to support new residential development. The fee is only charged in cases where parkland is not dedicated as part of a subdivision. The locations of the projects to be funded are generally described in the " Comprehensive General Plan and Environmental Impact Report for the City of Lathrop, California, December 1991." b. Amount of Fee: The amount of the fee varies from project to project but is always equal to the market value of the land for which the fee is being paid in lieu. Dedication ( or payment of fees) is required in an amount necessary to provide five (5) acres ofparkland per 1, 000 new residents. An average rate of 3. 59 people per household, results in park dedication of approximately one ( 1) acre of land for every 55. 71 dwelling units.

2. Fund Information ( During Reporting Period)
Source Amount
a. Beginning Fund Balance as of July 1, 2024 3, 127, 220 b. Fees Collected 507, 063
c. Interest Earned 170, 985
d. Expenditures 3, 246, 823)
e. Transfers Out
f. Refunds
g. Ending Fund Balance as of June 30, 2025 558, 446
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 3410 expended during the reporting period? No b. Description of Transfers and Loans made from fund.

Were funds from Fund 3410 transferred or loaned during the reporting period? No c. Description of refunds made during reporting period.

Were funds from Fund 3410 refunded during this reporting period? No Report Period: July 1, 2024 to June 30, 2025 Page 42
73 Capital Facilities Fee Funds Report
Park in Lieu Fee — 3410

The Park in Lieu Fee Fund 3410 currently does not have funds appropriated to the Capital Improvement Program (CIP) Project for Fiscal Year 2024-5. Please refer to the City' s 2023-028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Report Period: July 1, 2024 to June 30, 2025 Page 43
74 Capital Facilities Fee Funds Report
Water Capital Facility Fee — 5610
Water Capital Facility Fee — 5610

1. Fee Information
a. Description and History of Fee: The Water Capital Facility Fee is collected to fund improvements to water facilities in support of new development as well as to upgrade and maintain the City' s existing system. A water component, based on the city' s planned development, was not added to the Capital Facility Fee Program until the 1994 update as the City' s updated General Plan was not yet complete. The 1994 study, added a fee based on land usage and type appropriate for the City' sfuture growth to fund and maintain new and existing water facilities. The Capital Facility Fee Program was updated in 2003 to reflect the direction in which the city was headed ( and reevaluated in 2005 to show the impacts of inflation). The 2003 and 2005 studies identified facilities to accommodate for growth west of Interstate 5 as well as growth and improvements in Historic Lathrop.

At the present time, Lathrop obtains water supplies from the underlying groundwater basin using five active wells. Along with the five wells, the City' s existing water system includes four above ground storage tanks, four booster pump stations, and over 77 miles of distribution pipelines.

Four separate water system Capital Facility Fees have been set up to address the current underground water supply.

An updated water system CFF for East Lathrop based on a system buy -in approach since the water system in that area is largely built out;
An incremental cost for West/ Central Lathrop to reflect the cost of adding arsenic treatment to groundwater wells and for a portion of the cost of a standby well to provide additional water system reliability for the entire City;
An incremental cost CFF for the Mossdale Landings developments associated with the cost of a 1. 0 MG storage reservoir;
A reimbursement CFF for the Crossroads area.

On August 3, 2015 City Council approved entitlements for the South Lathrop Specific Plan ( SLSP) area.

3. million to construct the water system facilities. SLSP' sfair share of the cost is 30% and the remainder of the $ 3. million cost would be funded by other developments that will benefit from this facility. The Water Capital Facility Fee was reevaluated May 3, 2018. The studies included adjusting the previous Capital Facility Fee to reflect the effects of inflation.

In July 2022, the CLSP CFF was updated to include a new water tank and booster pump facility located in the Central Lathrop. The effective date of the updated fees were October 10, 2022.

Report Period: July 1, 2024 to June 30, 2025 Page 44
75 Capital Facilities Fee Funds Report
Water Capital Facility Fee — 5610
In October 2024, the CLSP Water Tank 1 CFF was updated by recalculating the fee using 2024 -dollar costs ( inflated using the ENR 20 -City CCI, with December 2023 as the index basis) and revising key allocation inputs. The update was needed because the City expanded the Water Tank 1 service area by adding eight parcels ( including a parcel in CLSP Phase 2, which required adding an industrial category) and revised the average daily water - demand factors used to allocate costs across land uses, better aligning the fee with current service -area assumptions and projected demands. b. Amount of Fee: The amount of the fee varies by meter size and location. The current fees are as follows:

July 1, 2024 to December 31, 2024
Meter
Size East Lathrop Crossroads
North
Harlan
Mossdale
Village/ Landing,
Central Lathrop,
Stewart Tract,
SLSP- Non
SLCC
Gateway
Mossdale
Landing
Storage)
SLSP- Non
SLCC &
Gateway
Buy -In)
5/ 8 1, 530 1, 438 940 1,13 1, 530
1 FS 1, 530 1, 438 940 1,13 1, 530
3/ 4 2,96 2, 157 1, 409 1, 670 2,96
1 3, 826 3, 595 2, 351 2, 782 3, 826
1 % 2 7, 650 7, 191 4, 700 5,63 7, 650
2 12, 241 11, 505 7, 520 8, 902 12, 241
3 22, 953 21, 570 14,01 16, 690 22, 953
4 38, 253 35, 952 23, 502 27, 818 38, 253
6 76, 507 71, 902 47, 005 55, 634 76, 507
8 122, 411 115, 043 75, 209 89, 015 122, 411
10 221, 871 208, 515 136, 315 161, 340 221, 871
January 1, 2025 to June 30, 2025
Meter
Size East Lathro 3 Crossroads North Harlan
Mossdale
Village/ Landing,
Central Lathrop,
Stewart Tract,
SLSP- Non SLCC
Gateway
Mossdale
Landing
Storage)
SLSP- Non
SLCC &
Gateway
Buy -In)
5/ 8 1, 543 1, 451 948 1,22 1, 543
1 FS 1, 543 1, 451 948 1,22 1, 543
3/ 4 2, 316 2, 175 1, 422 1, 684 2, 316
1 3, 859 3, 626 2, 371 2, 807 3, 859
1 '/ 2 7,17 7, 253 4, 741 5, 611 7,17
Report Period: July 1, 2024 to June 30, 2025 Page 45
76 Capital Facilities Fee Funds Report
Water Capital Facility Fee — 5610
2 12, 347 11, 605 7, 586 8, 980 12, 347
3 23, 152 21, 758 14, 224 16, 836 23, 152
4 38, 587 36, 264 23, 707 28, 060 38, 587
6 77, 173 72, 528 47,14 56, 118 77, 173
8 123, 477 116, 044 75, 864 89, 790 123, 477
10 223, 802 210, 330 137, 501 162, 744 223, 802
The amount of the fee rates in the SLSP development area are per 1, 000 square feet of building space.

The current fees are as follows:

South Lathrop Specific Plan Unit July 1, 2024 to Jan. 1, 2025 to Land Use Type ( Storage) Dec. 31, 2024 June 30, 2025
Office Commercial 1, 000 sqft 1, 226 1, 237
Limited Warehouse 1, 000 sqft 580 585
Warehouse 1, 000 sc ft 165 167
The amount ofthe fee rates in the SLSP — Non SLCC development area are per Acre.

The current fees are as follows:

South Lathrop Specific Plan Unit July 1, 2024 to Jan. 1, 2025 to Land Use Type ( Water -Line) Dec. 31, 2024 June 30, 2025 Office Commercial Acre 11, 862 11, 966
Limited Warehouse Acre 11, 862 11, 966
Warehouse Acre 11, 862 11, 966
The amount of the fee rates in the Lathrop Gateway Business Park development area.

The current fees are as follows:

Lathrop Gateway
Business Park
July 1, 2024 to December 31, 2024
Land Use Type Water System
Storage
Per 1, 000 sf.)
Water Line
Water Loop
Acre)
Water Line
Non -Water Loop
Linear Foot)
Shopping Center 704 6, 992 189. 49
Office Park 664 6, 992 189. 49
Industrial Park 528 6, 992 189. 49
Warehouse 151 6, 992 189. 49
Report Period: July 1, 2024 to June 30, 2025 Page 46
77 Capital Facilities Fee Funds Report
Water Capital Facility Fee — 5610
Lathrop Gateway
Business Park
January 1, 2025 to June 30, 2025
Land Use Type Water System
Storage
Per 1, 000 sf.)
Water Line
Water Loop
Acre)
Water Line
Non -Water Loop
Linear Foot)
Shopping Center 710 7, 052 191.4
Office Park 670 7, 052 191.4
Industrial Park 533 7, 052 191.4
Warehouse 152 7, 052 191.4
Central Lathrop Specific Plan Water System Storage Tank # 1 Land Use Type October 10, 2024 to
December 31, 2024
January 1, 2025 to
June 30, 2025
Single Family Home 2, 515 1, 734
Multi -Family Homes 1, 551 1, 293
Commercial 4, 733
Industrial 5, 096
A11 Development 7, 605

2. Fund Information during Reporting Period
Source Amount
a. Beginning Fund Balance as of July 1, 2024 6, 391, 507. 65 b. Fees Collected 1, 401,59
c. Interest Earned 370, 00
d. Expenditures 596, 698)
e. Transfers Out 35, 000)
f. Refunds
g. Ending Fund Balance as of June 30, 2025 7, 531, 268
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 5610 expended during the reporting period? Yes A total of $1, 218, 316 was expensed from Fund 5610 to reimbursed developers for constructing public improvements.
b. Description of Transfers and Loans made from fund.

Report Period: July 1, 2024 to June 30, 2025 Page 47
78 Capital Facilities Fee Funds Report
Water Capital Facility Fee — 5610
Were funds from Fund 5610 transferred or loaned during the reporting period? Yes A total of $1, 000,00 was transferred from Fund 5610 to the East Lathrop Water Main and Lateral Upgrades.
c. Description of refunds made during reporting period.

Were funds from Fund 5610 refunded during this reporting period? No

The Water Capital Facility Fee Fund 5610 currently has funds appropriated to the Capital Improvement Program ( CIP) Project for Fiscal Year 2024-5. Please refer to the City' s 2023-028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Project Amount of Improvements
East Lathrop Water main and Lateral
Upgrades, PW 24- 12
1, 000,00 83
Total 1, 000,00
Report Period: July 1, 2024 to June 30, 2025 Page 48
79 Capital Facilities Fee Funds Report
Surface Water Capital Facility Fee — 5640
Surface Water Capital Facility Fee — 5640

1. Fee Information
a. Description and History of Fee: The Surface Water Supply Capital Facility Fee is collected to fund The City of Lathrop' sproportionate share of costs related to the South County Surface Water Supply Project SCSWSP) with the South San Joaquin Irrigation District ( SSJID).

The South County Surface Water Supply Project is a
joint project between the Cities of Lathrop,
Manteca, Escalon and Tracy that built a water treatment facility ( the Nick C. DeGroot Treatment Facility), a pipeline to transport raw water from the Woodward Reservoir to the treatment facility and additional pipelines to transport the treated water to the participating cities.

Prior to the SCSWSP the city obtained all of its water supplies from the underlying groundwater basin using wells. With new development and recognizing the limitations of the groundwater resources the SCSWSP was needed. The City issued COPs in 2000 to help pay for the planning, engineering, and design costs associated with the project. Additionally, revenue bonds were issued in 2003 with a par
value of $32, 530, 000to fund construction costs for the city' scapacity.

On August 3, 2015 City Council approved entitlements for the South Lathrop Specific Plan ( SLSP) area.

The entitlements required an update to the CFF program to establish fees to fund the improvements for the SLSP area. The SLSP CFF Study " Nexus Study" adopted on March 12, 2018 identified that the SLSP is also subject to the Surface Water Impact fee. The Surface Water Capital Facility Fee was reevaluated May 3, 2018. The studies included adjusting the previous Capital Facility Fee to reflect the effects of inflation.
b. Amount of Fee: The amount of the fee varies by land use type and location.

July 1, 2024 to December 31, 2024
Meter Size East Lathrop,
North Harlan,
Crossroads &

SLSP- SLCC
Central
Lathrop
Mossdale Village,
SLSP — Non SLCC
Gateway
5/ 8 3, 442 6, 099 4, 507
1" FS 3, 442 6, 099 4, 507
3/ 4 5, 162 9, 149 6, 761
1 8, 604 15, 248 11, 268
1 1/ 2 17, 208 30, 495 22, 535
2 27, 532 48, 792 36, 056
3 51, 623 91, 485 67,05
4 86, 038 152, 475 112, 675
6 172, 077 304, 950 225, 30
8 275, 323 487, 920 360, 560
10 499, 022 884, 355 653, 515
Report Period: July 1, 2024 to June 30, 2025 Page 49
80 Capital Facilities Fee Funds Report
Surface Water Capital Facility Fee — 5640
January 1, 2025 to June 30, 2025
Meter Size
East Lathrop,
North Harlan,
Crossroads, &

SLSP - SLCC
Central
Lathrop
Mossdale Village,
SLSP — Non SLCC
Gateway
5/ 8 3, 668 6, 178 4, 567
1" FS 3, 668 6, 178 4, 567
3/4 5,02 9, 267 6, 851
1 9, 170 15, 445 11, 418
1 Y2 18, 341 30, 890 22, 835
2 29, 345 49,24 36, 536
3 55, 022 92, 670 68, 505
4 91, 703 154, 450 114,75
6 183, 405 308, 900 228, 350
8 293, 448 494, 20 365,60
10 531, 875 895,10 662, 215

2. Fund Information during Reporting Period
Source Amount
a. Beginning Fund Balance as of July 1, 2024 496, 720
b. Fees Collected 90, 864
c. Interest Earned 62, 501
d. Expenditures 90, 864)
e. Transfers Out
f. Refunds
g. Ending Fund Balance as of June 30, 2025 559, 221
Lh ;p
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 5640 expended during the reporting period? Yes A total of $415, 241 was expensed from Fund 5640 to reimbursed developers for constructing public improvements.
b. Description of Transfers and Loans made from fund.

Were funds from Fund 5640 transferred or loaned during the reporting period? No c. Description of refunds made during reporting period.

Were funds from Fund 5640 refunded during this reporting period? No Report Period: July 1, 2024 to June 30, 2025 Page 50
81 Capital Facilities Fee Funds Report
Surface Water Capital Facility Fee — 5640

The Surface Water Supply Fund Fee 5640 does not currently have funds appropriated to any Capital Improvement Program ( CIP) Projects. The fund pays for the costs related to the South County Surface Water Supply Program Project.

Report Period: July 1, 2024 to June 30, 2025 Page 51
82 Capital Facilities Fee Funds Report
Sewer Capital Facility Fee — 6030
Sewer Capital Facility Fee — 6030

1. Fee Information
L i4i
a. Description and History of Fee: The Sewer Capital Facilities Fees, adopted in 1993, are collected in order to fund new sewer facilities to accommodate new development as well as to provide improvements to the city' s existing facilities. The Crossroads fee is an exception in that it is collected to reimburse the developer for infrastructure that was built with the original project. Lathrop' sexisting facilities consist of:

14. 7% capacity of the Manteca Water Quality Control Facility to service the Historic Lathrop area, and the Consolidated Treatment Facility ( CTF) to service development west of Interstate 5 and for businesses located within the Crossroads development area. The CTF represents a consolidation of the two previous Lathrop treatment facilities, the Membrane Biological Reactor (MBR) Treatment Facility and the Water Recycling Plant (WRP1). An update to the Sewer Capital Facilities Fee was implemented in 2003 and again in 2005 to show the effects of inflation.

The city plans to expand the capacity of the existing CTF plant to accommodate for future growth in the Mossdale Landing and River Islands areas and for Richland Communities development.

On August 3, 2015 City Council approved entitlements for the South Lathrop Specific Plan (SLSP) area.

The entitlements required an update to the CFF program to establish fees to fund the improvements for the SLSP area. The SLSP CFF Study " Nexus Study" adopted on March 12, 2018 identified that the SLSP is also subject to the Sewer Capital Facility Fee. The fee was reevaluated in January 23, 2019 CFF update and was updated to reflect the effects of inflation. In addition, the CLSP Sewer/ Recycled Water Facilities CFF was added to the CFF program.

In February 2020, the Sewer Reimbursement CFF Study established a fee program for the construction of oversized sewer facilities including future construction of sewer facilities within the City.

In October 2024, the CLSP Sewer/ Recycled Water System CFF was updated to incorporate revised 2024 -dollar costs for backbone sewer and recycled water facilities ( including additional pump station and force main work) and to realign how those costs are allocated to future development in CLSP. The update reflects a higher total reimbursable facilities cost of about 20. million (in 2024 dollars) for a share ofthe pump station, force mains, sewer mains, and recycled water mains, and it introduces separate fee categories for limited industrial and dry warehouse uses, recognizing their lower wastewater demand relative to commercial and residential uses. The City also updated wastewater flow factors ( gallons per day per unit or per acre) and CLSP land -use assumptions after the Phase 2 amendments, then recalculated the per -unit and per -1, 000 -square -foot charges so that each land use' sfee is proportionate to its revised share of total daily wastewater flow.

Report Period: July 1, 2024 to June 30, 2025 Page 52
83 Capital Facilities Fee Funds Report
Sewer Capital Facility Fee — 6030
b. Amount of Fee: The amount of the fee varies by land use type and location.

July 1, 2024 to December 31, 2024
Meter
Size
East Lathrop &
North Harlan
Crossroads
Mossdale
Village/ Landing,
Central Lathrop, Stewart
Tract, SLSP & Gateway
Recycled Water Outfall)
Mossdale
Village/ Landing,
SLSP- Non SLCC &
Gateway
Sewer Collect/ Recycle
Water Dist. System)
5/ 8
6, 883 56 1, 346
1" FS 6, 883 56 1, 346
3/ 4 10, 325 86 2, 018
1 17, 208 142 3,63
1 % 2 34, 415 282 6, 725
2 55, 064 452 10, 760
3 103, 245 849 20, 176
4 172, 076 1, 415 33, 625
6 344, 151 2, 828 67, 250
8 550, 642 4, 525 107, 599
10 998, 038 8, 201 195, 024
ISU 10, 523
GPD 50. 89
January 1, 2025 to June 30, 2025
Meter
Size
East Lathrop &
North Harlan
Crossroads
Mossdale
Village/ Landing,
Central Lathrop, Stewart
Tract, SLSP & Gateway
Recycled Water Outfall)
Mossdale
Village/ Landing,
SLSP— Non SLCC &
Gateway
Sewer Collect/ Recycle
Water Dist. System)
5/ 8 6, 943 57 1, 357
1" FS 6, 943 57 1, 357
3/ 4 10, 414 86 2, 035
1 17, 357 143 3,92
1 % 2 34, 715 285 6, 783
2 55,44 456 10, 853
3 104,4 856 20, 351
4 173, 574 1, 427 33, 918
6 347, 147 2, 852 67, 835
8 555, 435 4, 564 108, 536
10 1, 006, 726 8, 273 196, 722
ISU 10, 615
GPD 51. 34
Report Period: July 1, 2024 to June 30, 2025 Page 53
84 Capital Facilities Fee Funds Report
Sewer Capital Facility Fee — 6030
Central Lathrop Unit July 1, 2024& to Jan. 1, 2025 to
Land Use Type Dec. 3L 2024 June 30, 2025
Single Family - Residential DU 3, 215 5, 639
Multi -Family - Residential DU 2, 733 4, 699
Commercial 1, 000 sf. 726 1, 343
Industrial 1, 000 sf. 726 432
Dry Warehouse 1000 sf. 726 310
South Lathrop Specific Unit July 1, 2024 to Jan. 1, 2025 to Plan — SLSP Non SLCC Dec. 31, 2024 June 30, 2025
Land Use Type
Office Commercial Acre 24,17 24, 427
Limited Industrial Acre 24,17 24, 427
Warehouse Acre 24,17 24, 427
Lathrop Gateway Unit July 1, 2024 to Jan. 1, 2025 to
Business Park Dec. 31, 2024 June 30, 2025
Land Use Type
Shopping Center 1, 000 sf. 867 875
Office Park 1, 000 sf. 761 768
Industrial Park 1, 000 sf. 364 368
Warehouse 1, 000 sf. 364 368

2. Fund Information during Reporting Period
Source Amount
a. Beginning Fund Balance as of July 1, 2024 11, 728, 490 b. Fees Collected 1, 861,96
c. Interest Earned 584, 139
d. Expenditures 4, 079, 428)
e. Transfers Out 9, 340, 80)
f. Refunds
g. Prior Year Adjustments
h. Ending Fund Balance as of June 30, 2025 754, 297
L‘ -. 1*
Report Period: July 1, 2024 to June 30, 2025 Page 54
85 Capital Facilities Fee Funds Report
Sewer Capital Facility Fee — 6030
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 6030 expended during the reporting period? Yes A total of $2, 413 was expensed from Fund 6030 to reimbursed developers for constructing public improvements.
b. Description of Transfers and Loans made from fund.

Were funds from Fund 6030 transferred or loaned during the reporting period? Yes A total of $2, 548, 289 was transferred from Fund 6030 to cover the following projects; 2,50, 000 for the Consolidated Treatment Facility Phase 3 Project WW 22- 38 298,9 for the Surface Water Discharge Project, WW 20- 17 c. Description of refunds made during reporting period.

Were funds from Fund 6030 refunded during this reporting period? No

The Sewer Capital Facility Fee Fund 6030 currently has no funds appropriated to any Capital Improvement Program ( CIP) Projects for Fiscal Year 2024-5. Please refer to the City' s 2023-028 Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Report Period: July 1, 2024 to June 30, 2025 Page 55
86 Capital Facilities Fee Funds Report
Sewer Capital Facility Fee — 6030
a. Expenditure Summary: Identification of each improvement on which reportable fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of each project of the district that was funded with reportable fees:

Were funds from Fund 6030 expended during the reporting period? Yes A total of $ 2, 413 was expensed from Fund 6030 to reimbursed developers for constructing public improvements.
b. Description of Transfers and Loans made from fund.

Were funds from Fund 6030 refunded during this reporting period? No

The Sewer Capital Facility Fee Fund 6030 currently has no funds appropriated to any Capital Improvement Program ( CIP) Projects for Fiscal Year 2024-5. Please refer to the City' s 2023-028
Capital Improvement Program adopted by City Council June 12, 2023, Resolution 23- 5321.

Report Period: July 1, 2024 to June 30, 2025 Page 55
87 Five
Year
aciliti
Capit
al F
Fee
Fund
Rep
ort es
Report
Made Pursuant
toGovernment
Code
66000
Secti
et.
seq .)on
Nam
e
of und: F
Capital
Facility
Transportati on Fee od:

Rep
Periort July
1,
2024
to
Jun
e
30,
2025

1. Purpo ofse
Fee:

This
fee
isollected c
order in
to
fund
street
the
impr
ovements
ast
one
side
of
The
Interstate 5
pr
ojects to
be
listed
in
the
report
titled "
City
of
Facility
Capital
Lathrop
Fees,
as amended
S
eptember
2,
2003.

A
p
ortionf
set
asid
e
for
use
on
regional
street
improv
ements.

Ar2.
e assumptiothe
utilizens
d
in
the
devel
of opment the
Capital
Facility
Fee
still
valid?
YES
If
yes,
describe
rea
the
sonable relationship between
the
fee
and
its
purp
ose. development New creates
additi
onal traffic
on
city
streets .

In
order
to
provide
for adequate
cap
acity
in
the
system,
impr
ovements are
needed.

This
fee
will
pay
f
those
or
improvements.

If wha
no,
tyohave
dou orwhane
tyoare
u
doing
th
insure toat a
able
reason
relationship xists e
between
the
fee
and
itsose? purp
CFF
Fund
2230 -
R
Tra
eg
ff
Impact
Fee,
2250
Traffic
Mitigati
on &
Anticipated Funding to
Complete
Financing
2340
SI
RTIF "
Improvements
C
of ost Improvement
S
ource:

Capital
Facility
Fee
S
ource:

Me
asure K,
De
vel oper
C
Other
Funding
Date
Available [
1]
F
unding
D
ate
Av
ReveLathrop/
rend
Co
Maurice
tton
Intersection
Widening
219, 747
100%
219, 747
2018
Lathrop/ Avon
IntersectioWidening n
219, 747
100%
219, 747
2018
Lathrop/ 5th
Inte
Street
rsectioWidening n
109, 874
100%
874 109,
2018
McKLathrop/
inley
Intersection
Widening
109, 874
100%
109, 874
2030
Louise/ McKinley
Inte rsectioWidening n
219, 747
100%
219, 747
2030
Mc Kinle Vierray/Yosemite/
Intersectio Widen
ning
219, 747
100%
219, 747
2030
SignTraffic
Loual -
iseAvenue
McK
and
inley
305, 26
100%
305, 26
2011
SignaTraffic
l -
Lathrop
and
Ma
Reveremd
Cotto
urice
n
305, 26
100%
305, 26
2018
SignTraffic
Lathroal -
p
and McKinley
305, 26
100%
206 35,
2030
SignTraffic
al -
Lathrop
and
A
von
305, 26
100%
305, 26
2030
SignTraffic
al -
Yo
McKinley &
semite/ Vierra
305, 26
100%
305, 26
2030
SeparatioGrade
Lathron -
p
@
UPRR
17, 986 758
22%
2, 492, 548
2008
78%
8, 673, 062
G
rade Separation -
Lathrop
@
SPRR
986, 758 17,
0%
0 2018
100%
19, 478 501
Harlan
Ro
Road (
toth
Louise)
Widening
635, 844
100%
635, 844
2030
17%
108, 094
Lathrop
Road (
UPRR
to Wide
SPRR)
ning,
343,56
100%
343,56
2018
Roth
Road (
UPRR
to Widenin
SPRR)
g
495, 958
83%
645 411,
2030
17%
313 84,
Roth
Road /
5IInterchange
5, 595
428
83%
4, 644
205
2035
17%
951, 223
Lathrop
Road /
InterchaI-5
nge
24,96 752
100%
24,96, 752
2035
88 1.

Purpose
of
Fee:

Capital
Facilities
Fi
Yevear Fee
Fund
Rep
ort
Report
Mad
e
Pursu
ant to
Government odC
e
Section
66000
et.
seq.)of
Name
Fund:

Facility
Capitalansportati Tr
on Fee
Period:

Rep
ort July
1,
2024
to
June
30,
2025
This
fee
is
collected
in
fund
order
improvements
street toon
the
east
of side
Interstat5
e
The
pr
ojects to
be
listed
in
the
ort
rep
titled "
of
City
Lathrop
Capital
acility F
Fees,
as
ended
am
September
2,
2003.

A
p
ofrtin
set
aside
f
onor use
nal
regio
street
impr
ents. ovem

2. Are assumptiothe
ns utilized
in
the
vel of
deopment the
al
Capit
Facility
Fee
still
valid?
YES
If
yes,
describe
the
reasonable
r
elationship
between
the
fee
and its
purp ose .

New
development creates
onal additi affic city
streets .
tr
on
order Into
provide
f
or
ad
equate
c
apacity
in
the
system,
impr
ovements are
needed .

This
fee
will
pay
for
those
improvements .

If wha
no,
tyohave
u
done
or
what yoare doingu
that
insure to
a
easonable r
onship rel
ati xists e
between
the
fee
and
itse?purp os
CFF
Fund
2230 -
R
eg
Traff
Impact
Fee,
2250
Traffic
Mitigation &
Funding
Anticipated to
Complet
e
Financing
2340
SJ
RTIF *
Impro vements
C
of ost
Impr
ovement
Source:

C
apital
Facility
Fee
S
ource:

Measure
K,
Devel
oper
C
Oth
er FundingDate
Available [
1]
Funding
Date
Louise
Avenue/ I-5
Interchange
47, 62134
100%
47, 621,34
2030
Phase
1 -
SR120/ Yosemite
EP
Phase
2, 800, 939
100%
800, 939 2
2025
Phase
2 - YoSR120/
semite
Interim
Phase
227, 43 18
100%
423 18, 227,
2025
Av
Yosemite
enue -
Segment
1 SR
120
toYosemite
Ct
805, 437
100%
805, 437
2030
YoAv
semite
enue -
Segment
Yo2
semite
to
Ct
D' Arcy
Pkwy
918,
417
100%
417 918,
2030
Avenue -
Yosemite
Segment
3 D '
Arcy
Pkwy
toMcKinley
A
ve
522, 380
100%
522, 380
2030
YoAvenue -
semite
Segment
McKinley 4
Ave
to
UPRR
Tracks
461,
638
100%
638 461,
2030
YoAvenu
semite
Intersectioe -
n
Yosemite 1
Yo
Ave /
semite
Ct
765, 348
100%
765, 348
2030
Yosemite
Avenue -
Intersection Yo2
semite
A
ve /
D' Arcy
Pkwy
232 510,
100%
510 ,
232
2030
Yosemite
Avenue -
Intersection
Yo3
semite
A
ve /
McKinley
Ave
935, 42
100%
935, 42
2030
Yosemite
A
At -
venue
G
rade
UPRR
Crossing
728, 903
100%
728, 903
2030
McKinley
A
venue -
Segment
Yo1
Ave
semite
to
UPRR
Crossin
g
524, 810
100%
810 524,
2030
McKinley
A
venue
At -
Grade
Cro
UPRR
ssing
728, 903
100%
728, 903
2030
Lathrop
Road /
McKinley
Avenue Improvements
607, 419
100%
419 607,
2030
Louise
a
McK
venue /
inley
Avenue
Improvements
728, 903
100%
903 728,
2030
Airport
Way /
Daniels
Street Improvements
199 753,
100%
753, 199
2030
Airport
Way /
WB
SR
120
Ramps
Improvements
013, 446 6,
100%
446 6, 013,
2030
Airpo Wart
y /
EB
SR
120
Ramps
Impro
vements
6, 013, 446
100%
6, 013 446
2030
Harlan
Road /
Lathrop
Road
Interse
Impro vemection
nts
789, 644
100%
789, 644
2025
5th
Lathro
Street /
Rop
In
ad
tersectio
Impron
vements
789, 644
100%
789, 644
2025
HoRo
wland
Lo
ad /
Av
uise
enue
Intersectio
n
Impro
vements
789, 644
100%
789, 644
2030
NoFunte:
d
wa
223
clos
sed ofFeb. 20, as
2006. Revenu
es
fo
r
these
pro
jects
will
no
w
co
me
from
Fun
ds
234
a
nd
236
as
a
result
of
the
change
from
Regi
onal
Tr
ansportation
Fee
SaJon
Regio na
aquin
Transpo rtatiol
n
Impact
Fee (
RTIF).
1]
D
ates
shown
were
onbased
the
2005
CFF Upda
te
projectio ns.
89 Five
Year
Capital
Facilities
Fee
Fund
Report
Made
Rep
ort Pursuant
to
Government Cod
e
Section 66000
et. seq .)
Name
of
Fund:
and
Culture
Leisure
apital C
Facility
Fee
eriod: P
Report July
1,
2024
to
June
30 ,
2025

1. Purpose
of
Fee:

This
fee
is
collected
in
order
to
funds
parks,
a
library
facility,
senior
center
and
cultural
cent
er
needed
to
accommodate
new
development. The
ojects pr
to
be
funded
are
listed
in
theort rep
titled "
City
of
Lathr
Capital Facilities
Fees,
as amended
September
2,
2003."

2. Are
the
a
ssumptions
utilized
in
the development
of
the
Capital
Facility
Fee
still
valid?
YES
yeIf
s,
describe
reaso
the
nable relationship
between
the
fee
and
its
purpose .

New
development creates
eed additi al onn
onal
f
recreatior
facilities
such
parks,
libraries,
cultural
and
centers.

This
fee
will
for
paythose improvement
needed
to
provide
these
facilities.

If
no,
ha
what
ve
you
or
done
what
are
you
doing
to
insure
that
a
reason
able relationship
e
xists
between
the
fee
and
itspurpose?
CFF
Fund
2260 -
Culture
and
Leisure
Funding
Anticipated
to
Compl
ete
Financing
Improvements
Cost
of
Improvement
Source:

C
apital
Facility
Fee
Source:

Measure
Devel oper K,
FundingDate
Available [
1]
Funding
Neighborhood
Parks [
1]
103, 731 52,
100%
731 52, 103,
2030
Community
Parks [
1]
140 79, 222
100%
140 79, 222
2030
Linear
Parks
andBikeways [
1]
24, 625 042
100%
042 24, 625
2030
Spe cializedCommunity
PaFa
rk
cilities[ 2]
672, 464 27,
100%
27, 672 464
2030
C
ultural
Center [
1]
764,52 9
100%
9, 76452
2030
CLSP Neighborhood
Parks
8, 720 241
100%
8, 720 241
2030
Ce
Community
nter (
New) [
3]
81,96 961
100%
81,96 961
2035
No
te : A
portion
the
of
Culture
Leand
isure Improvements
have
been
completed.

Ten
perce
nt (
10%)
of
the
Mossdale
CFF
revenue
collected
is
reimbursed
tothe
fodeveloper/ builder
r
the
cost
of
the
project.

Da
1]
sho
tes
wn
were
based
on
the
2005
CFF
Update
projections.
2]
Dates
shown
ba
were
onsed
the
2018
CFF
Update proje ctions.
3]
Pursuant
the
to
C 2024
FFUpdate,
the
library,
senior
center,
and
expansio
n
to
the community
were
consolidated
into
the
new
community
90 Five
Year
Capital
Facilities
Fe
e
Fund
Report
Report
Made
Pursu
Government ant to
ode C
Section
66000
et .
seq.)
Name
of
Fund:

Municipal
Services
Capital
Facilities
Fee
Report
Period:

July
1,
30,
2025
June
2024
to

1. of
Purpose
Fee:

This
fee
is
collected
in
ord
fund
toer a
city
hall,
police
station,
orporation c
yard
and
animal
control
sh
elter
toaccommodat
e
for
new
development.

The
projects
to
be
funded
are
listed
in
the
report
titled "
City
of
Capital
acilities F
Fees,
amended as
September
2,
2003 ."

2. Are
the
a
ssumptions
utilized
in
the development
of
the
Capital
Facility
Fee
still
valid?
YES
If
yes,
describe
reasona
the
ble
relationship
between
the
fee
and
its
purpose.

New
el
devopment creates
additional
need
for
city
services
including
a
larger
city
hall ,
police
stati
on
yard
and
animal
shelter.

This
fee
will
pay
for
those improvement
ne eded
to
pr
ovide
these
facilities.

If
no,
what yohave
dou
ne
or
what
are
you
doing
toinsure
th
at a
reas
able onrel
ati onship
exists
between
the
fee
and
its
purp
ose?
CFF
Fund
2270 -
City
Services
Funding
Anticipated
toComplete
Financing
Improvements
Cost
of
Improvement
Sourc
e:

Capital
Facility
Fee
Source:

Me
asure
K,
Devel oper
F
unding Date
Available [
1]
Funding
Police
Facility
975, 896 13,
100%
896 13, 975,
2020
Po
Future
Fa
lice
cility
99, 459 538
100%
538 99, 459
2030
Co
Animal
ntrol
Center
187,95 13,
100%
1953,87
2030
City
Hall
3754, 267
100%
267, 3754
2030
Corporation
Y
ard
581, 212 14,
100%
212 14, 581
2030
Performing
Arts
Center
785 9, 60
100%
9, 680 75
2030
Wireless
Network
899 2, 315,
100%
315, 899 2
2030
Ma
Fleet
inte nance Facility
15, 290 431
100%
15, 290 431
2030
Date
1]
s
shown
were
based
on
the
2005
CFF
Update
projections.
91 Five
Year
Capital
Facilities
Fee
Fund
Report
Report
Made
Pursuant
Government to
66000Code Secti et.
seq.)on
Name
of
Fund:

Storm
Drainag
e
Capital
Facility
Fee
Report
od:

Peri
July
1,
2024
to
June
30,
2025
Purpose1. Fee :
of
This
fee
is
collected
in
order
to
fund
drain
impr
storm
ovements
needed
to
accomm odate
n
ew
The oj ects
pr
be
fu
nded toare
listed
in
the
ort
rep
titled "
of
City
Lathrop,
Capital
F
acilities
Fees,
as
September
2,
2003." Are the2.
a
ssumptio utilizns
ed
in
the development
of the
Facility
Capit
al Fee
valid?
still
YES
If
yes,
describe
reasona
the
re
ble
lationship
between the
fee
and
its
purpose .

New
development will
create
additional
storm
drainge
off, runwhich
varies
by
the
type
of
use (
ground
with
impervious
urfaces s
varies
eatly gr
depending
on
land
use).

This
fee
is
calculat
ed
to
needed of storm
drainage
facilities
based
on
the
amount
of
water
r
off unis
likely
to
occur
from
each
use.

If
no,
what
have
you
done
or
what
are
do
you
ing
toinsure
that
a
reason abl
e
relationship
xists e
between
the
fee
and
its
purp
ose?
CFF
Fund
2280 -
Storm
Drain
Funding
Anticip
ated
to
C
omplete
Financing
Improvements
Co
st
of Improvement
SoCapital urce:

F
acility
Fee
Source:

Measure
K,
Developer
FundingAvailable [ Date
1]
Funding
Mossdale
Village
Outfall *
2, 196 847
100%
196, 847 2
2030
Trunkline "
A- 1" Improvements
4, 108, 781
100%
4, 108, 781
2030
Trunkline "
ImproC"
vements
6,59 587
100%
587 6,59,
2030
Storm
Drain
System Improvements "
Watershed #
2"*
10, 302 57
100%
10, 302, 57
2030
Storm
Drain
System Improvements "
Watershe
d #
4"*
8, 913, 145
100%
8, 145 913,
2030
Storm
Drainage
Facilities -
Area *
SLSP
19, 333, 064
100%
19,
064 333,
2030
Outfa
Regional
ll
Fa
Structure
cilities*
4,41, 990
100%
441, 990 4
2030
Sto Dra
rm
inage
Facilities -
LGBPSP
A
rea
686, 047 15,
100%
15, 686, 047
2030
Note : Project
co
was
mpleted
and
accepted.

CFF
revenue
collected
is
reimbursed
tothedevelo
per/ builder
fo
r
the
cost
of
the
project.
1]
Dates
shown
were
based
on
the
2005
C
FF
Update
projections.
92 Five
Year
Capital
Facilities
Fee
Fund
Report
Report
M
ade Pursu
ant toGovernment Code
Section
66000
et.
seq .)
of
Name
Fund:

Administration
Capitalacility F
Fee
Report
Period:

July
1,
2024
to
June
30,
2025

1. Purpose
of
Fee:

This
fee
is
collected
in
order
defer
the
administrative tocosts
of
ollecting c
and ounting acc
for
the
funds
forTransportation,
City
Services,
and
Culture
and
Leisure
as
identified
in
the
report
titled "
City
of
Capitalacility F
Fee,
as amended
September
2,
2003."

2. Are assumptiothe
utilizns
ed
in
the development
of
the
Capital
Facility
Fee
still
valid?
YES
If
yes,
describe
reasona
the
rela
ble
tionship
betw
the
feeeen and
its
purpose.

Costs
are
incurred
in
ollection c
of
and
acc
ounting
for
the
fees
described
above.

These
c
ost
are
reimbursed
through
this
2%
fee .

If wha
no,
hat yove
u
done
or
what yoare
dou
ing
toinsure that
a
reasonable
relati
onship
exists
between
the
fee
and
its
p
ose? urp
CFF
Fund
Administra
2290 -
tion
Funding
Anticipated
to
C
omplete
Fin
ancing
Improvements
Cost
of Improvement
S
ource:

Capital
Facility
Fee
Source:

Measure
K,
Developer
FundingDate
Available [
1]
Funding
RepoCFF Update (rt
BiAnnually)
93, 447
100%
93, 447
2030
Prio
CLSP -
Developer r
Account
Open
Items
249, 575
100%
249, 575
2030
1]
Dates
shown
were
based
on
the
2005
CFF
Update
pro
jections.
93 Fiv
e
Year
al
Capit
Facilities
Fee
Fund
Report
Report
Made
Pursuant
ent
to
Governm Code Section
66000
et .
seq.)
Name
of
Fund:

Environmental
apital C
Mitig
ation Facility
Fe
e
Period:

Rep
ort July
1,
2024
to
June
30,
2025

1. Purpose
Fe
of
e:

This
fee
is
collected
from
development the
westonside
of
Interstat
e
5 order in
to
preser
ve
the
habitat
Riparian
Brush
Rabbit
as
required
by
the
environmental
mitigation
measures.

This
fee
will
be
used
to
land
and
construct
a
fence
needed
to
otect
pr
the
rabbit .

2. Arethe assumptions
utilized
indevelopment the
of
the
Capital
Facility
Fee
still
alid? v
YES
If
yes,
describe
the
reasonable
relationship
between
the
fee
and
its
purp
ose .

New development
on
the
west
side
of
Interstate
5 will endanger
the
Rip
arian
Brush
Rabbit
thus
cre
toit.
prot
ect This
fee
was
created
olely s
for
that
reason.
no , If
what yohave
u
done
or
what yoare
u
doing
toinsure
that
a
reas
onable relationship
exists
between
the
fee
and
its
purp
ose?
CFF
Fund
Enviro
2310 -
Mitiganmental
tion
Funding
Anticipated
toComplete
Financing
Improvements
Cost
of
Improvement
Source:

Capital
Facility
Fee
Source:

Measure
K, Developer
Funding,
DateAvailable [
1]
Funding
Rabbit
Habitat
Mitigation
896, 708
100%
896, 708
2030
Note:

Project
completed. was
All
Mossdale
CFF
revenue
co
llected
is
reimbursed
to
the
builder developer/
f
or
the
c
ost
of
the
pr
oject.
1]
Dates
were
shown
based
on
the
2005
CFF
U projections. pdate
94 Five
Year
Capital
acilities F
Fee
Fund
Rep
ort
Report
Made
Code
Section
Government
Pursuant
to66000
et .
seq.)
Nam
e
of
Fund:

Capital
Facility
Transport
ation Fee
Report
od:

Periuly J
1,
2024
to
June
30,
2025
Purpo1. ofse
Fee:

This
fee
isollected c
order fund
in
tostreet
the
side
of
impr
ovements weston
Interstate

5. The
proj
ects
to
be
f
list
edin
the
ort
rep
titled "
of LathropCity Capital
Facility
Fees,
as
nded
ame
emb Septr
2,
2003 .

A
portiofn
set
aside
f
regional
streetor use onimprovements .

2. Are
the
utilize
assumptions
d
in
the
devel
of
thent opme Cal Facilityapit Fee
still
alid? v
YES
yeIf
s,
describe
rea sona
the
ble
relationship
th
between
e
fee
and
its
purp
ose. developmeNew nt creates
additi
onal traffic
city
streets . on
In
ordtoer
provide
for
ad
equate
cap
acity
in
the
r
system,
impr
ovements need
ed. are This
f
ee
will
pay
f
those
or
improvements .
no , If
what yohave
dou
ne
or
what yoare
u
doing
to
insure
that
a
reasonable
relationship exists
between
the
fee
and
itsose? purp
2360
SJ
RTIF
FundingAnticipated to
C
omplete
Fin
ancing
Improvements
Cost
of
Impr
ovement
Source:

Capital
Facility
F
ee
S
ource:

Measure
K,
Devel
oper
Contrib
Other
Funding
Date
Available [
1]
Funding
Date
Avail
Arbor
A
ve Ma
from
to
carthur
Paradise
A
ve
930, 69 16

68. 70%
11, 631, 384
2030
31%
5, 299 306
GVP
Paradise
Av
toParae
dise
Cut
43, 272 76
00% 79.
34, 185, 493
2030
21%
9, 087 23
GV
PParadise
Cut
to
SJ
River
29, 722 150

89. 10%
26, 482,35
2030
11%
239, 714 3
GVP
Paradise
to
Cut
RiveSJ
fror
ntage
landscape
3, 77058
100. 00%
3, 770, 358
2030
GVP
SJ to
River
Sadler
Oak
5, 102 916
99 .
20%
5, 0629
2030
80% 0.
40, 823
GVP
SJ
River
to
Sadler
fro
Oak
ntage
landscape
1, 399,08
100 .
00%
1, 399,08
2030
GVP
Sadler
Oak
to
River
Island
Pkwy
618 10, 425

98. 50%
10, 26933
2030
1 .
50%
156, 384
GVP
Sadler
Oak
to
River
Island
Pkwy
frontage
landscape
2, 098, 962
50% 98.
2, 067, 478
2030
1 .
50%
31, 484
GVP
RIP
Lathroto Rop
ad
201, 993 11,

97. 60%
10, 933 146
2025
40% 2.
268, 84
GVP
RIP
Lathroto Rop
fro
ad
La
ntage
ndscape
2, 098, 962
60%97.
587 2, 048,
2025
40% 2.
50 ,
375
Lathro
GVP
p
Road
and
no . b
CLSP
undary
951, 32 1,

99. 40%
1, 939, 613
2030
60% 0.
11 ,
708
GVLathroP
p
Road
a
nd
No . b
CLSP
undary
frontage
landsca
pe
2, 098, 962
00%100.
962 2, 098,
2030
G
Manthey VP/
Rd
between
no. b
CLSP
undary
toRo
Ro
th
ad
336, 969 7,

97. 20%
131, 54 7,
2030
2 .
80%
205, 43
Roth
Road Interchange Improvements
1, 392 99
20% 49.
685, 356
2030

50. 80%
707, 644
Lathro Rop
ad
Interchange Improvements
191 33, 618,

75. 90%
25, 516 207
2030
10% 24.
101, 984 8
Lathrop
fro
Road
m
G
VP
to
I-5
774, 53 1 97.
80%
1, 735, 53
2025
20%.
39, 041
Louise
Ave
Interchange
Improvements
49, 579, 14
20% 67.
33,17 205
2030
80% 32.
969 16, 261
RIP
between
GVP
a
nd
I-5
192, 404

95. 00%
333, 98 1,
2025
5 .
00%
70, 210
RIP
GV
between
P
a
McK
nd
ee
Ave
2, 810 49
30% 94.
650, 225
2025
5 .
70%
160,94
RIP
between
McKee
Ave
to
SJ
River
881 18, 450

94. 60%
17, 454 533
2030
40% 5.
996, 348
RIP
between
SJ
toSo
River
mersto
nParkway
945, 751 2
50% 94.
735 2,83
2025
5 .
50%
162, 016
Somerston
between
RIP
So.
to
RIP
and
Lakeside
D rive
730 4, 511
70% 91.
4, 137 25
2025
8 .
4-30°
374, 4
Dr
Lakeside
between
Some
rsto
n
Pkwy
a
nd
GVP
4, 367 241

99. 40%
038 4, 341
2030

0.60%
2036,
Somerston
Pkwy
between
Lakeside
Dr
and 3, GVP
392, 447

87. 20%
2, 958, 214
2030
80% 12.
434, 23
Chrisman RdInterchange
444, 919 14,

62. 30%
8,
999, 185
2030
70% 37.
5, 445 73
Paradise
fro
Ave
GV
m
P Parato
dise
Cut( between
I-205
and
GVP)
1, 825, 450

77. 00%
1, 405, 596
2030
00% 23.
853 419,
Macarthu Dr.
r
interchange
Improvements
20, 440 153

40. 00%
8, 176, 061
2030

60. 00%
12, 264 092
95 Five
Year
Capit
al Facilities
Fee
und F
Report
R
Mad eport
e
ode C
Purs
GovernmentuantoSection
66000
et .
seq .)
Nam
e
of
Fund:
apital C
Transp
ortation Facility
Fee od:

Rep
Periort July
1,
30,
2025
Ju
2024
tone

1. of
Purpose
Fee:

This
fee
isected
coll
und ford in
street toer improvements
on
the
west
side
of
Interstate

5. The oj
pr
ects
to
be
f
listed
in
the
report
titl
ed " City
ofathrop L
Capital
Facility
amendd
F
asees,
September
2,
2003.

A
p
ortin
of
set
aside
regional
f
streetor use
onimproveme
nts.

2. A
theassu mptiore utilizens
d
in
the
development of
the
Capital
Facility
Fee
still
valid?
YES
If
yes,
describe
thereasonable
relationship
between
the
fee
and
itsurpose. p New development
creates
addition
al affic city
streets.
tr
on
In
order
provide
to
f
adequate or
c
apacity
in
th
e
r
system,
improvements
are
eeded. n
This
fee
will
pay
f
th
orse
improvements.
no , If have
what
done orwha
you
t
are
you
doing
to
insure
that
a
reasonable
relationship exists
betwee
n
the
fee
and
itsose? purp
2360
ST
RTIF
Funding
Anticipated
to
C
ompl ete
Financing
Improvements
Cost
of
Impr
ovement
S
ource:

Capital
Facility
Fee
S
ource:

M
eas ure
K, Developer
C
Other
Funding
DateAvailable [
1I
Funding
Date
Macarthur
D
fror.
m to
205 1-
A
rbor
Ave
704 2, 536,
62 .
00%
756 1, 572,
2030
38 .
00%
963,47
Traffic
Signal
Macaat
rthur
Arbo
Dr. &
Avr
e.
874, 059
58 .
80%
513 ,
947
2030
20%41.
112 360,
TrafficSignal
at
G
VP
a
nd
Paradise
Ave.
059 874,
10% 8.
700 ,
121
2030
90%19.
173, 938
Traffic
Signal
at
G
VP
and
RIP
874, 059

96. 10%
970 839,
2023
90% 3.
34, 088
Traffic
Signal
at
G
VP
and
Lathrop
Road/ Spartan
Way
874, 059

0.0%
2021
100. 00%
059 874,
Traffic
Signal
at
RIP
Somersto
and
n
Pkwy
512,
835
00% 97.
497,50
2025

3. 00%
15, 385
Traffic
Signal
at
Lakeside
Dr
So
and
merston
Pkwy
512, 835
10%91.
467, 193
2030
8 .
90%
642 45,
Traffic
Signal
at
GVP
Somersto
and
n
Pkwy
512, 835 00% 94.
065 482,
2030
6 .
00%
770 30,
Traffic
Signal
at
G
VP
La
and
Dr
keside
512, 835 99. 00%
507, 7
2030
1 .
00%
128 5,
SignaTraffic
atl
GVP
Stanfo
and
Cro
rd
ssing
493, 502
00%99.
567 488,
2025
00%1.
935 4,
SignaTraffic
atl
G
an
VP
d
Stre
Faber
et *
536 611,
00%99.
605, 420
2030
00%1.
115 6,
Traffic
Signal
G
an
VP
Lathrod
p
Rd/ Spartan
Way
198, 41
00% 99.
196, 434
2025
00%1.
984 1,
Central
Pacific
Street
Spaand
rtan
Way Improvements *
893 109,
00% 99.
108, 794
2025
1 .
00%
1, 099
Traffic
GV
Signal
P
Locomo
and
tive
395 661,
00% 99.
654, 781
2030
1 .
00%
6 ,
614
Traffic
Signal
RIP
and
Oberlin
Avenue
661, 395

99. 00%
654, 781
2030
1 .
00%
6,14
SignaTraffic
l
C
entral
Pacific
Street
and
Spartan
Way
395 661,

99. 00%
781 654,
2030
00% 1.
6,14
Da te
1]
shos
wn
ba
were
sed
on
the
2019
CFF
Update
projections.

NoProjecte:
wat
cos
mpleted
and
accepted.

CFF
rev enu
e
colle
cted
is
reimburse
d
to
the
develo
per/
builde
r
for
the
co
st
oftheproject.
96 Five
Year
Capital
Facilities
Fee
Fund
Report
Made
Rep
ort Pursuant
Gtoovernment Code
Section
66000
et.
seq.)
Nam
e
of
Fund: Transportation
Capital
Facility
Fee
Report
Peri
od: July
1,
2024
to
June
30,
2025

1. of
Purpose
Fee:

This
fee
isollected c
in
oadway
order
fund
offsite tor
impro
vements f
the
Land or
Park,
Central
Lathrop
ProjectArea.

The
projects
to
be
funded
are
listed
in
the
ort
rep
titled "
of
City
Lathrop
Capital
Facility
Fees, as
amended
May
29,
2007 .

2. A
re assumptiothe
utilizns
ed
in
the
development of
the
Cal Facilityapit F
still
valid? ee YES
If
yes,
describe
reaso
the
nable
relationship
b
theetween fee
and
its
purpos
e.

New development
creates
additi
onal traffic
on
city
streets.
order
In
tovide pro
for adequate
capacity
in
the
ro
adway
system,
impr
ovements are
needed .

This
fee
will
pay
for
those improvements.

If
no,
what yohave
dou
ne
or
what yoare
u
doing
insure tothat
a
onable reasrelationship
exists
between
the
fee
and
itspurpose?
CFF
Fund
2380 -
CLSP
Offsite
Funding
Anticipated
toComplete
Financing
Roadway Improvements Improvements
Coofst Improvement
Source: Capital
Facility
Fee
S
ource:

Measure
K,
Developer
Contributi
on
Other
F
Available [ undingDate
1]
Funding
Date
Av
ailble
Ro
Roth
ad/ McKinley
Ave
1, 743,15
16%
278, 994
2030
84%
1, 464 721
Lathrop
Road/ 5th
Street
993 1, 546,
21%
324, 868
2025
79%
222, 14
Lathro Rop
ad/ Airport
R
oad
2, 776, 001
17%
471, 920
2030
83%
2, 304 081
Louise
Avenue/ McKinley
Avenue
3, 056, 24
9%
275, 062
2030
91%
2, 781, 14
Louise
Avenue/ Airport
Road
3, 423, 960
8%
273, 917
2030
92%
3 ,
150, 043
Av
Yosemite
enue/ McKinley
Avenue
2, 405, 59
rci%
24U, 55_
21130
907
164, 958 2
Da
1]
tes
shown
base
were
d
the
on
2007
CFF
Update
proje ction
s.
97 1.

Purpose
Feof
e:

Five
Capital
Facilities
Ye
ar Fee
Fund
ort Rep
Made
P
Rep
ursuant ort toGovernment
Code
Secti
66000
et.
seq.)on
Name
of
Fund: Transportation apital C
acility F
Fee
Report
Period:

July
1,
30,
2025
2024
June to
This
fee
is
collected
in
order
to
fund
needed
improvements
Road
the
Rotho
Interchange
and
frontage
r
oads.

The
project
betoed
fund
is
listed
in
the
ort
rep
titled "
of
City
athrop L
apital
C
Facility
Fees, as
amended
Janu
ary
3,
Are2.
the
utiliz
assumptions
ed
in
the
dev
el opment of
the
Capitalacility F
Fe
e
still
valid?
YES
If describe
yes,
the
reasonable relationship between
the
fee
and
its
purp ose.

New velopment de
ates
cre
additional
traffic
city
streets. on
order
In
to
provide
foradequate
cap
acity
in
the
r
oadw ay
system,
impr
ovements needed.
are
This
fee
will
pay
for
those
imprnts. oveme
If wha
no,
t
have
you
orwha
done
t
are
you
doing
insure tothat
a
able relati
reas
ononship xists e
between
the
fee
and
itspurpose?
CFF
Fund
2420 -
North
Lathrop
Transportation
Funding
Anticipatedo
Complete
Fin
ancing
Improvements
Cost
of Improvement
So
urce: Capital
Facility
Fee
Source:

Meas
ure K,
Devel
oper
Contrib
uti on
Other
Funding
Date
Av
ailble [
1]
FundingAvail able Date
Roth
Road/ I-5
Interchange Improvements
29, 1469
48%
1523, 990
2030
52%
155, 998 15,
1]
Dates
shown
were
on
based
the
2011
CFF
U
pdate projections.
98 Five
Capital
Year Facilities
Fee
Fund
Rep
ort
Report
Made
Pursuant
to
Code
Governm
ent 66000
Secti et.
seq.)on
Name
of
Fund:

Park
in
Lieu
Report
Period:

July
1,
2024
to
June
30,
2025
Purpose1.
of
Fee:

This
fee
is
collected
order
in
to
fund acquisition
of
parkland
eded
ne
to
support
new
resid ential
d
The
fee
is
only
charged
in
the
event
that
adequate
parkland
is
not
dedicated
by
the developer
as
part
if
the
subdivisi
on
accordance inwith
the
Quimby
Act.

The
location
of
theojects pr
to
be
funded
are
generally
in
the "omprehensive c
General
Plan
and
Envir
al onment Impact
Report
for
the
City
of
Lathrember, Dec op,

2. Are
the assumptions
utilized
in
the development
of the
Capital
Facility
Fee
still
alid? v
YES
If
yes,
describe
the
reasonable
relationship
between
the
fee
and
its
purpose .

According
to
General
the
Plan,
the
stand
ard for
park development
is
2 acres
Neighborhood of
Parks
per
residents
and
3 acres
ofCommunity Parks
per
1, 000
residents.

According
to
State
Law,
the
City
can
requir
5 acres
of
park
land
to
be
dedicated
per
every
1, 000
pe ople
provided
that
the
City
already
has
that
much
within
its
planning
area. In
1991,
when
General the
Plan
was
adopted,
th
e
City
h
ad
more
that
5 acres
per
people
and,
with
additional
parks
developd
since
that
time,
has
maintained
that
ratio.

The
dedic
ation
or
requirement
is
still
valid .

If
no,
what
have
you
or
done
are
what you
doing
toinsure
that
a
reasonable
relati onship
exists
between
the
fee
and
itspurpose?
CFF
Fund
Pa
3410 -
rk
in
Lieu
FundingAnticipated
toComplete
Fin
ancing
Improvements
ofCost
Impro
vement
Source:

Ca
pital
Facility
Fee
S
ource:

Measure
K,
Devel oper
FundingDate
Available [
1]
Funding
Community
and
Linear
Parks
Land
217, 34 13
100%
347 13, 217
2030
Generations Center
Land
769 1, 915
100%
1,
769 915,
2030
1]
Dates
were
shown
based
theon
2005
CFF
Update projections.
99 Five
Facilitiesapital Ye
Car Fee
Fund
Report
Made
Rep
ort Pursuant
to
Code
Governm
ent 66000
Secti
et. seq .)on
Name
of
Fund:

Waterapital C
Facility
Fee
Period:

Rep
ort July
1,
2024
to
June
30,
2025

1. Purpo ofse
Fee:

This
fee
ised
collect
in
order
to
fund
impr
ovements for
xisting e
water
facilities
as
well
as
creat
e
new
f
needed
in
odate
order
tonew acc omm devel
nt. opme The
ojects to
pr
be
funded are
listed
in
the
rep
ort
of
Lathrop,
Capital
Facility
amended
Fee,
as
2003.

Septemb
2, er

2. A
theassumptiore
ns utilized
in
the development
of the
Capital
Facility
Fee
still
valid?
YES
If de
yes,
scribe
rea
the
sonable
relationship
between
the
fee
and its
purpose .

The
fee
isased b
on
the
otal t
of
amount
improvements
the
to
water
system
including
the
creation
of
n
ew
sources
needed
to
serve
the anticipated
owth
gr
of
th
e
City.

These
costs
were
the
n
transferred
into
per -
costs
and
allocated
to
the
different
land
uses
based on
the
average
daily
c
onsumption
rates .

For
non
uses,
individ
ual calculations
will
be
madedb
as
on
the
estimated
water
us
age.
no , If ha
what yove
u
done
or
what yoare
u
doing
toinsure
that
a
reasonable
relatio
nship xists
e
betwee n
the
fee
and
itspurpose?
Fu
CFF
nd
5610 -
Conne
Water
ction
Fees
Funding edAnticipat to
Complete
Fin
ancing
Improvements
Cost
of Improvement
Source:

Capital
Faci
ity
Fee
Source:

Meas
Devel K, operure
Fundi
ng
Date
Avail
able [
1]
Funding
Existing
Water
System
Buy
In [
2]
876 21,60
100%
876 21,60,
2030
7%
293 1, 467,
ImproWell
vements
for
CW/
Lathrop [
1]
657, 390 50,
100%
657, 390 50,
2030
Wate Stora ger
for
ML *
a
nd
LS
426 3,87,
100%
3, 487,26
2030
R
eimbursement
for
Crossroads
area ( MG1. 0
waster
storage
tank,
BPS.
well,
Transmission
wa
main,
distributio
ter
n
Wasystem)
Lin
ter
Watee (
r
Loop Improvements) *
960, 65 4
100%
650 96, 4,
2021
Stora
Water
Fa
ge
cilities
108 4, 183,
100%
108 4,83,
2030
Water
Tank
1 *
5,
587,
867
100%
867 5,8,
2023
Pro
Note:
ject
co
was
mpleted
and
a
cce
pted.

CFF revenu
e
co
llected
is
reimbursed
to
the developer/ builder fo
r
the
cost
of
the
pr
oject.
1]
Da
tes
shown
were
based
on
the
2005
CFF
U
pdate
pro jectio
ns.
100
Purpo1.
se
of
Fee:

Five
Year
Capital
Facilities
Fee
Fund
Report
Made
Rep
ort Pursuant
CGovernment to66000
Sectionde et .
seq.)
of
Name
Fund:

Sewer
Capital
Facility
Fee
Report
Period:

July
1,
2024
to
June
30,
2025
This
fee
is
collected
fund ord to
in
er ovements
impr
existing
for sewer
well
acilities f
as
as
create
new
needed
order in
accommodateonew
development . The
ojects
pr
funded
be
are
to
listed
in
the
report
titled "
Lathrop,f Capital
Facility
Fee,
as amended
September
2,
2003.

2. Are assumptiothe
ns utilized
in
the
development of
the apital C
Facility
Fee
still
alid? v
YES
If
yes,
describe
the
reasonable
relationship
between
the
fee
and
itspurpose.

The
fee
is
otal
the
t
based
onamount
of improvements
needed to
serve
the projected
le
vel
of
de
velopment
by
the
number
of
of
gall
sewons
be
toage treated.

The
fees
are
then
based
on
the
average
number
of
gallons
family
multiple and family
with
individual
calculations
made
for
each
residential nonuse
based
on
If
no,
what yohave
doneu
or
what
are
you
doing
toinsure
that
a
reason
relationship able
xists
e
between
the
fee
and
its
purp ose? Funding
A
ated nticip
toComplete
Financing
C
FF
Fund
6030 -
Sewer
Connection
Fees Improvements
Existing
Collectio
Sewer
n
Syst In [ Buy
1]
Recycled
Outfa
Water
ll
W/ C
Lathrop [
1]
Portion
of
Statio
Pump
n &
Force
Mains [
2] Wa
Recycled
ter
Mains [
2]
A
dditional
Statio
Pum.
n
Cost [
2]
Estimated
Additiona Sewel
Work [
r
2] SeweRecycled r/
Water
S
stem
MV [
1]
Sewer
S
stems (
Facilities)
LGBPSP
Area
LIT
Sewer
Reimbursement
CFF
Pilot
Sewer
R
eimbursement
CFF
DPIF
Sewer
Reimbursement
CFF
DPIF
Sewer
Main
CFF NV
CFT
Sewer
Reimbursement
CFF
Note:

A
of
portion
the
Sewer
Capital Improv
ements hav
e
been
co
mpleted.

Ten
percent (
10%)
of
the
Mossdale
CFF
revenue
collected
is
reimbursed
to
the
builder developer/
for
the
cost
of
the
project.
1]
sho
Dates
wn
were
based
on
the
2005
CFF
U
pdate projections.
2]
sho
Dates
wn
were
based
on
the
2019
CFF
Update Cost projections. of Improvement 874 668, 23082 553, 1313 925, 6109 721, 3649 02, 4 777 973, 602 910, 4659 10, 5757 160, 6471 513, 2
472 809, 990 107, 2
059 821, 060 525, 708 184,
Source:

C
apital
Facility
Fee
Fundin 23 ,
874 668, 082 553, 1313 925, 6109 721, 3649 042, 4
777 973, 602 910, 4659 10, 5757 160, 6471 513, 2,
472 809, 990 107, 2
059 821, 060 525, 708 184, Date
Avail
able [
1]
Source:

M
easure K,
Devel
oper
Funding 986 930, 8 136 911, 1
101

PAGE LEFT

INTENTIONALLY
BLANK
102

CITY MANAGER' S REPORT
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
ITEM:

ITEM 4. 5

ACCEPTANCE OF THE CITY OF LATHROP ANNUAL

COMPREHENSIVE FINANCIAL REPORT ( ACFR) FOR
THE FISCAL YEAR ENDING JUNE 30, 2025
RECOMMENDATION: Adopt a Resolution to Accept the City of Lathrop Annual Comprehensive Financial Report ( ACFR) for
the Fiscal Year Ending June 30, 2025
SUMMARY:

The City' s auditor, Badawi and Associates, CPA, has completed the review of the annual financial statements for the fiscal year ending June 30, 2025. The audited financial statements are incorporated into an Annual Comprehensive Financial Report ACFR). The auditors have issued an unmodified (" clean") audit opinion. An unmodified opinion indicates that the financial data of the City is fairly presented in accordance with accounting principles generally accepted in the United States of America and the standards applicable to financial audits contained in Government Audit Standards, issued by the Comptroller General of the United States. These standards require that they plan and perform the audits to obtain reasonable assurance as to whether the financial statements are free of material misstatement.

BACKGROUND:

Best financial practices as well as various financing covenants and regulations associated with restricted funding sources require the City to publish a complete set of financial statements each year presented in conformance with Generally Accepted Accounting Principles ( GAAP). The Government Code of the State of California requires general law cities, such as the City of Lathrop, to have its financial statements audited by an independent certified public accountant. Accordingly, this year' s
audit was completed by the accounting firm of Badawi and Associates, CPA.

The firm was contracted to render an opinion of the City' s financial statements in accordance with auditing standards generally accepted in the United States of America. To ensure complete independence, Badawi and Associates, CPA presents the results of their assessment of the adequacy of internal accounting controls and the quality of financial reporting directly to the City Council.

The Annual Comprehensive Financial Report ( ACFR) for the fiscal year ended June 30, 2025, has been prepared by the City and audited by the certified public accounting firm of Badawi and Associates, CPA. The ACFR and audit of the City' s financial statements were completed on December 17, 2025, and posted on the City' s website at that time. Badawi and Associates, CPA has issued an unmodified (" clean") opinion of the ACFR which states that the financial statements are presented fairly, in all material respects.
103
CITY MANAGER' S REPORT PAGE 2
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING

ACCEPT THE CITY OF LATHROP ANNUAL COMPREHENSIVE FINANCIAL REPORT ( ACFR) FOR THE FISCAL YEAR ENDING JUNE 30, 2025 Following completion of the ACFR, it was submitted to the Governmental Finance Officers Association ( GFOA) for the Certificate for Excellence in Financial Reporting program. The GFOA is a nationally recognized nonprofit professional association serving more than 20, 000 finance professionals in the United States and Canada, and the Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting. The City of Lathrop has been awarded the prestigious Certificate for Excellence in Financial Reporting for 28 consecutive years. A Certificate of Achievement is valid for a period of one year only.

The City' sfinancial statements provide information about the finances of the City in its entirety, as well as information about individual funds. The ACFR is organized into the three sections summarized below.

The Introductory section includes this transmittal letter and general information on the City' s government structure and services provided. It includes a list of principal officials, an organizational chart, and the Government Finance Officers Associations ( GFOA) Certificate of Achievement for Excellence in Financial Reporting.

The Financial section contains the independent auditor' sreport on the financial statement audit, the MD& A, basic financial statements, required supplementary information, and combined and individual fund presentations and supplementary information.

The Statistical section includes selected financial and demographic information generally presented on a multi -year basis. This information includes financial trends, revenue capacity, debt capacity, demographics and economic and operating information.

REASON FOR RECOMMENDATION:

The auditors have issued an unmodified (" clean") audit opinion. An unmodified opinion indicates that the financial data of the City is fairly presented in accordance with accounting principles generally accepted in the United States of America and the standards applicable to financial audits contained in Government Audit Standards, issued by the Comptroller General of the United States.

FISCAL IMPACT:

There is no fiscal impact associated with this action. Unmodified audit reports are an indication that City funds are being spent appropriately and as intended by the City Council, grantor agencies, and federal and State laws. They also help maintain the City' sfavorable ratings for current and future debt issuances. 104
CITY MANAGER' S REPORT PAGE 3
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING

ACCEPT THE CITY OF LATHROP ANNUAL COMPREHENSIVE FINANCIAL REPORT ( ACFR) FOR THE FISCAL YEAR ENDING JUNE 30, 2025 ATTACHMENTS:

A. Resolution to Accept the City of Lathrop Annual Comprehensive Financial Report ( ACFR) for Fiscal Year Ending June 30, 2025.

B. City of Lathrop Annual Comprehensive Financial Report ( ACFR) for the Fiscal Year Ending June 30, 2025.
105
CITY MANAGER' S REPORT PAGE 4
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING

ACCEPT THE CITY OF LATHROP ANNUAL COMPREHENSIVE FINANCIAL REPORT ( ACFR) FOR THE FISCAL YEAR ENDING JUNE 30, 2025 APPROVALS:

Ca ri s
Directo f Finance
Th/ omas Hedegard
Deputy City Manager
1 &/. 20. 24
Date
1/ SJZdZU,
Date
AS-- z -o z
Salvador Navarrete Date
City Attorney
Ste r.#iJ Salvatore
City Manager
Date
106
RESOLUTION NO. 26 -

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LATHROP TO

ACCEPT THE ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2025
WHEREAS, the financial statements of the City of Lathrop for the fiscal year ended June 30, 2025, have been prepared by the City' s Finance Department; and WHEREAS, the annual financial statements were examined by the independent public accounting firm of Badawi and Associates, CPA; and WHEREAS, the City prepared the Annual Comprehensive Financial Report ACFR) for the fiscal year ended June 30, 2025 and the auditor' sopinion is included therein; and
WHEREAS, it is the opinion of the auditors that the financial statements present fairly the financial position of the City as of June 30, 2025, and that the statements were prepared in accordance with accounting principles generally accepted in the United States of America; and
WHEREAS, the auditors have issued an unmodified (" clean") audit opinion; and
WHEREAS, the ACFR and audit of the City' s
financial statements were
completed on December 17, 2025, and posted on the City' s website; and WHEREAS, following completion of the ACFR, it was submitted to the Governmental Finance Officers Association ( GFOA) for the Certificate for Excellence in Financial Reporting program. The City of Lathrop has been awarded the prestigious Certificate for Excellence in Financial Reporting for 28 consecutive years. A Certificate of Achievement is valid for a period of one year only.

NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby accept the Annual Comprehensive Financial Report for the Fiscal Year ended June 30, 2025 that accompanied the City Manager' sreport for this resolution. 107
The foregoing resolution was passed and adopted this 12th day of January 2026, by the following vote of the City Council, to wit:

AYES:

NOES:

ABSENT:

ABSTAIN:

Paul Akinjo, Mayor
ATTEST: APPROVED AS TO FORM:

Teresa Vargas, City Clerk Salvador Navarrete, City Attorney 108
109

CITY OF LATHROP, CALIFORNIA

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2025
Prepared by:

Finance Department
Cari James, Director of Finance
110
City of Lathrop
For the Year Ended June 30, 2025
Table of Contents
INTRODUCTORY SECTION: Page
Letter of Transmittal vii
Certificate of Achievement for Excellence in Financial Reporting xii Organizational Chart xiii
Directory of Officials and Advisory Bodies xiv
FINANCIAL SECTION:

INDEPENDENT AUDITORS' REPORT 1
MANAGEMENT DISCUSSION AND ANALYSIS 5

BASIC FINANCIAL STATEMENTS
Government -wide Financial Statements:

Statement of Net Position 25
Statement of Activities 26
Governmental Fund Financial Statements:

Balance Sheet - Governmental Funds 32
Reconciliation of the Balances Sheet of Governmental Funds to the Statement of Net Position 34
Statement of Revenues Expenditures and Changes in Fund
Balances - Governmental Funds 36
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the
Statement of Activities 38
Proprietary Fund Financial Statements:

Statement of Net Position - Proprietary Funds 40
Statement of Revenues, Expenses and Changes in Fund
Net position - Proprietary Funds 41
Statement of Cash Flows - Proprietary Funds 42
Fiduciary Fund Financial Statements:

Statement of Fiduciary Net Position 44
Statement of Changes in Fiduciary Net Position 45
Notes to Financial Statements 49
111
City of Lathrop
For the Year Ended June 30, 2025
Table of Contents
FINANCIAL SECTION, Continued:

REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Proportionate Share of the Net Pension Liability - Cost -Sharing Multiple Employer Plan 90
Schedule of Plan Contributions - Cost -Sharing Multiple Employer Plan 92 Schedule of Changes in the Net OPEB Liability and Related Ratios 94 Schedule of OPEB Contributions 96
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual:

General Fund 98
Developer Projects Special Revenue Fund 100
Capital Facility Fees Special Revenue Fund 101
Notes to the Required Supplementary Information 102

SUPPLEMENTARY INFORMATION
General Fund:

Description of General Funds 105
Combining Balance Sheet 106
Combining Schedule of Revenues, Expenditures and Changes in Fund Balance 107
Schedules of Revenues, Expenditures and Change in Fund Balances - Budget and Actual General Purpose Fund 108
Economic Development 110
Measure C 111
Major Funds:

Schedules of Revenues, Expenditures and Change in Fund Balances - Budget and Actual Street and Roads 112
General CIP Projects Capital Project Fund 113
Park in Lieu 114
Non -Major Governmental Funds:

Description of Non -Major Funds 115
Combining Balance Sheet 120
Combining Statement of Revenues, Expenditures and Changes in Fund Balance 130 Schedules of Revenues, Expenditures and Change in Fund Balances - Budget and Actual Building Safety & Inspection 139
ii
112
City of Lathrop
For the Year Ended June 30, 2025
Table of Contents
FINANCIAL SECTION, Continued:

SUPPLEMENTARY INFORMATION, Continued
Non -Major Governmental Funds, Continued:

Schedules of Revenues, Expenditures and Change in Fund Balances - Budget and Actual, Continued:

Developer Engineering 140
Developer Deposits 141
Landscape Maintenance 142
Gas Tax 143
Traffic Safety 144
Local Street 145
Public Nuisance 146
Measure K Fund 147
Transit LTF 148
Streets and Roads 149
Federal Grant 150
Historic Lathrop Loan Program (HLLP) 151
Storm Drain 152
Street Light 153
AB939 Recycling Fund 154
Community Development Block Grant 155
Scholarship Fund 156
COPS 157
Office of Traffic Safety 158
RTIF San Joaquin County 159
RTIF Lathrop Local West 160
RTIF SJCOG 161
RTIF Lathrop Local East 162
LMFD Measure C
163
State Grants 164
North Lathrop Transportation 165
Citywide Economic Dev Fee 20% 166
River Islands CFD 2013- 1
167
Lathrop Land Acquisitions 168
ULOP RD -17 Levee Impact 169
DWR Grant - ULOP Project 170
CLSP Off -Site Roadway Improvement Fund 171
South Lathrop CFD 2019- 1Fund 172
iii
113
City of Lathrop
For the Year Ended June 30, 2025
Table of Contents
FINANCIAL SECTION, Continued:

SUPPLEMENTARY INFORMATION, Continued
Non -Major Governmental Funds, Continued:

Schedules of Revenues, Expenditures and Change in Fund Balances - Budget and Actual, Continued:

Central Lathrop CFD 2019- Fund 173
Stewart Economic Dev Fee 80% 174
TOT Trust 175
Gateway Business Park 176
River Islands CFD 2023- 1
177
Storm Drain 178
Custodial Funds:

Combining Statement of Fiduciary Net Position 180
Combining Statement of Changes in Fiduciary Net Position 182 STATISTICAL SECTION:

Financial Trends:

Net Position by Component 186
Changes in Net Position 188
Fund Balances of Governmental Funds 190
Changes in Fund Balances of Governmental Funds 192
Revenue Capacity Information:

Property Tax Levies and Collections 194
Assessed Value and Estimated Actual Value of Taxable Property 195 Principal Property Taxpayers 196
Debt Capacity Information:

Property Tax Rates - Direct and Overlapping Governments 197 Sales Tax Rates - Direct and Overlapping Governments 198 Taxable Sales by Category 200
Legal Debt Margin Information 202
Outstanding Debt 204
Computation of Direct and Overlapping Debt 206
Pledged -Revenue Coverage 208
iv
114
City of Lathrop
For the Year Ended June 30, 2025
Table of Contents
STATISTICAL SECTION, Continued:

Demographic and Economic Information:

Demographic and Economic Statistics 210
Principal Employers 211
Operating Information:

Full -Time and Part -Time City Employees by Function 212 Operating Indicators by Function 214
Capital Asset Statistics by Function 215
Water Sold by Type of Customer 216
Water Rates 217
Ten Largest Water Customers 218
Top 25 Sales Tax Producers 219
V
115
This page intentionally left blank
vi
116
December 17, 2025
Department of -Finance
390 Towne Centre Drive
Lathrop, California 95330
209- 941- 7320
www. cilatlirol. ca. us
To the Honorable Mayor, Members of the City Council and Citizens of Lathrop Lathrop, California 95330
The Annual Comprehensive Financial Report of the City of Lathrop for the fiscal year (FY) ended June 30, 2025 is hereby submitted. Responsibility for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with the City of Lathrop. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner that presents fairly the financial position and results of operations of the various funds of the City of Lathrop. All disclosures necessary to enable the reader to gain an understanding of the City' sfinancial activities have been included.

This Annual Comprehensive Financial Report includes a summary of funds for the City of Lathrop and reports all activities considered to be a part of, controlled by, and dependent on the City. The accounts of the City are organized on the basis of fund accounting with each fund considered 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, deferred outflows/ inflows of resources, fund equity, revenues and expenditures, or expenses as appropriate.

Government resources are allocated to, and accounted for, in individual funds based upon the purpose for which they are to be spent and the means by which spending activities are controlled.

The Annual Comprehensive Financial Report is prepared in accordance with Generally Accepted Accounting Principles ( GAAP) as set forth in pronouncements by the National Council of Governmental Accounting ( NCGA) and the Governmental Accounting Standards Board ( GASB) and includes the report of the City' s independent certified public accountants, Badawi and Associates. Based on the audit, the independent auditors concluded that there was reasonable basis for rendering an unmodified opinion which states that the City' s financial statements
for the fiscal year ended June 30, 2025, are fairly presented in conformity with GAAP. The independent auditors report is presented as the first component of the financial section of this report.

Management' sdiscussion and analysis ( MD& A) is required supplementary information and provides information and analysis that users need to interpret the basic financial statements. This transmittal letter is designed to complement the MD& A, and, therefore, should be read with it. The City' s MD& Acan be found immediately following the independent auditor' sreport.

INTERNAL CONTROLS
To provide a reasonable basis for making these representations, City management has established a comprehensive internal control framework that is designed to ensure that the assets of the government are protected from loss, theft, or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with GAAP in the United States of America.

The internal control structure is designed to provide reasonable, but not absolute, assurance these objectives are met. The concept of reasonable assurance recognizes that ( 1) the cost of control should not exceed the benefits likely to be derived from the control, and (2) the valuation of costs and benefits requires estimates and judgments by management. All internal control evaluations occur within the above stated framework. We believe our internal accounting controls adequately safeguard assets and provide reasonable assurance that financial transactions are properly recorded.
vii
117

INDEPENDENT AUDIT REPORT
The City Council is responsible for: 1) assuring the City administration fulfills its responsibilities in the preparation of the financial statements and 2) engaging certified public accountants to ensure sound audit and the accounting principles are applied in financial reporting.

The Government Code of the State of California requires general law cities, such as the City of Lathrop, to have its financial statements audited by an independent certified public accountant. Accordingly, this year' s audit was completed by the accounting firm of Badawi and Associates. The firm was engaged by the City Administration to render an opinion of the City' sfinancial statements in accordance with auditing standards generally accepted in the United States of America. To ensure complete independence, Badawi and Associates presents the results of their assessment of the adequacy of internal accounting controls and the quality of financial reporting directly to the City Council. The auditor' sreport on the basic financial statements is the first item in the accompanying Financial Section.

In addition to meeting the requirements set forth in state statutes, the audit was also designed to meet the requirements of the Federal Single Audit Act, Title 2 U. S. Code of Federal Regulations ( CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards ( Uniform Guidance).

The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the audited government' s internal controls and compliance
with legal requirements.

REPORT ORGANIZATION:

The report is organized in three sections: introductory, financial, and statistical.

1. The Introductory section includes this transmittal letter and general information on the City' s government structure and services provided. It includes a list of principal officials, an organizational chart, and the Government Finance Officers Associations ( GFOA) Certificate of Achievement for Excellence in Financial Reporting.

2. The Financial section contains the independent auditor' sreport on the financial statement audit, the MD& A, basic financial statements, required supplementary information, and combined and individual fund presentations and supplementary information.

3. The Statistical section includes selected financial and demographic information generally presented on a multi -year basis. This information includes financial trends, revenue capacity, debt capacity, demographics and economic and operating information.

PROFILE OF LATHROP
The City of Lathrop encompasses approximately 22 square miles. The City of Lathrop is located in San Joaquin County at the center of the Northern California metro market, close to the San Francisco Bay Area and Greater Sacramento regions, at the interchange of three major freeways: Interstate 5 ( I-5), Interstate 205 ( I-205), and the Highway 120 Freeway. As of January 1, 2025, the City had an estimated population of 38, 596.

The City of Lathrop is a general - law city incorporated under California law July 1, 1989. The City operates under the City Council / Manager form of government. Beginning with the municipal election in November 1996, the position of the Mayor is elected for a two- year term. Four Council Members are elected at -large and serve alternating four- year terms. Every two years in December, the Mayor and Council Members select a Council Member to serve as Vice -Mayor. The City Manager also serves as City Treasurer and the City Clerk is appointed by the City Manager. All municipal elections are non- partisan.

The City of Lathrop provides a wide range of municipal services, including police public safety, water and sewer utilities, street maintenance, community services, parks and recreation, planning, building, code enforcement, and other general government services.

Fire services such as fire suppression and prevention are provided for the City by Lathrop -Manteca Fire Protection District and are funded separately by the Fire District. The Fire District provides specialized equipment and trained personnel 24 hours a day for emergency assistance to all residents. The Fire District and the City work together for the mutual benefit of both agencies and the citizens they serve. viii
118

ECONOMIC CONDITION AND FINANCIAL OUTLOOK
Historically, Lathrop has been an agricultural - based community, however, the continuing dynamic outward growth of the San Francisco Bay Area has pushed industrial, warehousing, and logistics growth into the Northern San Joaquin Valley. This has benefited Lathrop due to its strategic location at the intersection of three major freeways.

The City continues to experience a period of growth with consistently strong demand in residential construction to accommodate continuing job growth in the Northern San Joaquin Valley and in the neighboring Tri Valley Area of the East Bay. Permit issuance remained strong in FY 2024/5 with building permits continuing to be issued at a rate consistent with an agency that is one of the fastest growing in the State. Revenues, such as property tax, development related fees, community facility district revenues and sales tax are all positively impacted from increased development activity either directly from fees received or indirectly due to increased population.

The City has recently begun to enjoy a strong economic base from years of smart growth and planning initiatives resulting in stable property tax revenue, modest transient occupancy taxes and diverse sales tax revenues. The City' s sales tax revenues remain stable and, over the past several years, have continued to experience annual increases. The City' s sales tax revenues are expected to show modest annual increases as population and consumer activity continue to rise and businesses continue to view Lathrop as an attractive location.

Like all government agencies throughout California, the City is faced with increased ongoing annual operating costs and rising retirement related liabilities. For Lathrop, some of these challenges include increased funding needs for pavement maintenance, facility and park maintenance, new programs and departments, additional personnel, retiree health care costs, and rising pension costs due to new funding policies adopted by the California Public Employees Retirement System ( CaIPERS). While the City has been successful over the years in balancing these issues with its strategic use of contract staffing and services, the City will continue to experience rising costs. Additionally, with the anticipation of significant impacts to revenues in the coming year, coupled with ongoing growth in expenditures over the next five years, the City will be challenged.

Sales tax growth in Lathrop was moored to commercial development throughout 2025 and is expected to stabilize throughout 2026. Sales tax is the General Fund' slargest source of revenue and has largely recovered to pre - pandemic levels, however, the state of the economy from high inflation, supply chain challenges and ongoing world events remains concerning as we head into FY 2026. The City is currently navigating an unprecedented inflation situation that has not been encountered in recent history. The ability to budget conservatively has paid dividends with the uncertainty that has come with recent economic events. This creates challenges but we remain vigilantly optimistic about Lathrop' slong- term outlook.

City Council and Staff are dedicated to the Community and our commitment to prudently manage the City' s finances. This commitment has contributed to our ability to endure challenging times. The financial impacts of the pandemic have largely subsided compared to the prior fiscal year.

BALANCED BUDGET
The City' sBudget and Fiscal Policy requires the City to maintain a balanced General Fund budget over the annual period of the financial plan. This means that each fiscal year, current revenues must meet or exceed operating expenditures, including debt service. Use of fund balance commitments to offset non -operating expenditures may allow for current expenditures to exceed current revenues in the fiscal year. City staff presents General Fund budgets for City Council consideration that maintain an unassigned fund balance between 10- 50% of the annual operating appropriations and transfers. Lathrop maintains adequate fund balances for emergencies in a majority of its governmental operations funds and proprietary funds.

The adopted budget serves as the foundation for the City of Lathrop' sfinancial planning and control system. All departments of the City submit requests for appropriations to the City Manager. The City Manager uses these requests as a starting point for developing a proposed budget. The Council holds public hearings on the proposed budget and then ultimately adopts a formal budget. The budget is adopted by fund, department, program, and line - item.

The Council periodically reviews the City' s actual financial activity in relation to the original budget, and as necessary, adjustments are made to ensure that expenditures are not outpacing anticipated revenues. The level of budgetary control ( the level at which expenditures cannot legally exceed the appropriated amount) is at the fund and department level with more stringent control over capital assets and fund balance categories, which are maintained at the line item level. The City Council must approve amendments or transfers of appropriations between funds or departments as well as items related to capital assets or fund balances. The City Council has delegated authority to the City Manager to approve transfers of appropriations between programs and divisions ix
119
within a City department and between appropriation units ( e.g., salaries and benefits, services and supplies, and capital outlay) within programs, excluding special designation or project appropriations.

LONG- TERM FINANCIAL PLANNING
The City incorporates long- term financial planning into its budget process in several ways. During the biennial budget process the City Council receives an updated General Fund Ten -Year Forecast and CIP Five -Year Forecast that includes all special revenue funds associated with each project. The long- term financial model used for the General Fund and CIP looks forward ten years, because of the volatile nature of tax revenues in a commercial growth -based economy, and various one- time special revenue funds associated with development activity making it difficult to predict revenues with any certainty beyond the immediate term. The forecast is used as a tool and maintained by Finance staff.

These projections allow management to see what the future could look like given a set of assumptions and is evaluated in the context of whether decisions are sustainable over the long term. The ten- year financial forecast is a tool for strategic decision making and presents further context for balancing short- tem and long- term goals and provides an " order of magnitude" feel for the General Fund' s ability to continue services and preserve fiscal sustainability. Management encourages its departments to project their resource needs for a period longer than the traditional biennial budget period. In addition, the City faces increasing expenses in several areas of operations, including the creation of the Police Department. The City has elected to proactively address its unfunded OPEB obligation by establishing an irrevocable trust and significantly increasing its contributions. At the same time, rising pension contribution requirements, while helping to reduce the unfunded pension liability, result in a decrease of financial resources available for other uses. The City will need to continue to explore options to increase its revenue base, while keeping expenses manageable.

Moving forward, staff is cautiously optimistic. It was originally anticipated that the economy would start to see a slowdown in 2025, due to a multitude of factors, including inflation, but as the City moves into FY 2025-6, inflation seems to have cooled, and the Federal Reserve Bank has begun to reduce interest rates. Staff and the City' s consultants will continue monitoring any signs of an economic slowdown, carefully following discussions on inflation, interest rates, and the uncertainty of the economy' sreaction to world affairs. Vulnerable to an economic downturn are sales tax, TOT and development -related revenues. Economic development continues to thrive as new businesses are motivated to locate in Lathrop due to its location, amenities, economic vibrancy, and high quality of life for residents.

Lastly, on November 6, 2012, the Citizens of Lathrop approved Measure C by 77%. Measure C is a general purpose 1`)/ 0 additional sales tax Measure to be used for the purpose of maintaining and enhancing essential City services, such as police and fire protection and youth and senior services within the City. Measure C supports personnel and operating expenditures to manage the Lathrop Generations Center, a multipurpose facility aimed to promote healthy recreational opportunities for our youth. Furthermore, Measure C partially funded the startup of Lathrop' s own Police Department, as well as additional Lathrop Police personnel to strengthen prevention and intervention services around the community.

CERTIFICATE OF ACHIEVEMENT
The Government Finance Officers Association of the United States and Canada ( GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to City of Lathrop for its annual comprehensive financial report ( ACFR) for the fiscal year ended June 30, 2024. The ACFR has been judged by an impartial panel to meet the uppermost standards of the program, which includes demonstrating a constructive " spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the ACFR. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management. This was the 28th consecutive year that the City of Lathrop has received this prestigious award.

A Certificate of Achievement is valid for a period of one year only. We believe that our current Annual Comprehensive Financial Report continues to meet the Certificate of Achievement Program' srequirements and we are submitting it to the GFOA to determine its eligibility for another certificate. x
120

ACKNOWLEDGEMENTS
The preparation of the Annual Comprehensive Financial Report was made possible by the special efforts of the entire staff of the Finance Department, working in conjunction with the City' s independent auditors and departmental staff. We would like to express our appreciation to the Mayor and City Councilmembers for their continued efforts in stewarding the financial operations of the City in a responsible and enterprising manner.

Respectfully submitted,
Stephen J. Salvatore Cari Jam' s
City Manager Director of Finance
121 xi
0 Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Lathrop
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2024
Executive Director/ CEO
xii
122

CITY OF LATHROP ORGANIZATIONAL CHART
Fiscal Year 2024/5
Citizens of Lathrop
City Council
City Attorney City Manager
Community
Development
Government
Services & City Clerk
Human Resources
Public Works
Building
Police
Information Systems
Parks, Recreation &
Maintenance
Services
Finance
Commissions
Planning
Commission
Parks & Recreation
Commission
Senior Advisory
Commission
Youth Advisory
Commission
Measure C Oversight
Committee
123

DIRECTORY OF OFFICIALS AND ADVISORY BODIES

CITY COUNCIL
Paul Akinjo, Mayor
Jennifer Torres - O' Callaghan, Vice Mayor
Minnie Diallo, Council Member
Stephen Dresser, Council Member
Diane Lazard, Council Member

ADVISORY BODIES
Lathrop/ Manteca Fire District
Measure C Oversight Committee
Parks and Recreation Commission
Planning Commission
Senior Advisory Commission
Youth Advisory Commission

APPOINTED OFFICIALS AND DEPARTMENT HEADS
City Manager/ Treasurer
City Attorney
Assistant City Manager
Deputy City Manager
Director of Government Services/ City Clerk
City Engineer
Director of Information Systems
Director of Finance
Director of Human Resources
Director of Community Development
Director of Parks and Recreation
Chief of Police
Chief Building Official
Stephen J. Salvatore
Salvador Navarrete
Michael King
Thomas Hedegard
Teresa Vargas
Brad Taylor
Tony Fernandes
Cari James
Juliana Burns
Rick Caguiat
Todd Sebastian
Stephen Sealy
Ed Short
124
ill BADAWI & ASSOCIATES
Certified Public Accountants

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

In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2025, 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 ( GAAS) 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' sResponsibilities 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 the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

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.

Address: Phone: Fax:
125
To the Honorable Mayor and Members of the City Council
of the City of Lathrop
Lathrop, California

Page 2 ends

Auditor' sResponsibilities 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' sreport that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a
guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, 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' sability 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 discussion and analysis, budgetary comparison schedules for the General Fund require
and
that
major
the
special
management' s
revenue
funds, and the required pension and OPEB schedules on pages 5- 19 and 90- 102 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 2 126
To the Honorable Mayor and Members of the City Council
of the City of Lathrop
Lathrop, California

Page 3 ends

information and comparing the information for consistency with management' sresponses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City' s
basic financial statements. The combining General Fund schedules and budgetary comparison schedules, combining and individual nonmajor fund statements, and the budgetary comparison schedules for the major capital projects funds and nonmajor governmental funds are presented for purposes of additional analysis and are not a
required part of the basic financial statements.

The General Fund schedules and budgetary comparison schedules, combining and individual nonmajor fund statements, and the budgetary comparison schedules for the major capital projects funds and nonmajor governmental funds are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the General Fund schedules and budgetary comparison schedules, combining and individual nonmajor fund statements, and the budgetary comparison schedules for the major capital projects funds and nonmajor governmental funds 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 comprehensive financial report. The other information comprises the information included in the annual comprehensive financial report but does not include the basic financial statements and our auditor' sreport 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 our report dated December 17, 2025 on our consideration of the City' s
internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters.

The purpose of that report is solely to describe the scope of our testing of internal control over financial 3 127
To the Honorable Mayor and Members of the City Council
of the City of Lathrop
Lathrop, California

Page 4 ends

reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of 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.

Badawi &
3, 1.

Associates,
4A. 4
CPAs
Emeryville, California
December 17, 2025
4 128
December 17, 2025
Department ofFinance
390 Towne Centre Drive
Lathrop, California 95330
209- 941- 7320
www. ci. lathroD. ca. us

MANAGEMENT' SDISCUSSION AND ANALYSIS
The Management' s
Discussion and Analysis (" MD& A") provides an overview of the City of Lathrop' s City') activities and financial performance for the year ended June 30, 2025. Readers are encouraged to read the MD& Ain conjunction with the basic financial statements that immediately follow, along with the letter of transmittal at the beginning of the Introductory Section and other portions of the Annual Comprehensive Financial Report (" ACFR').

FINANCIAL HIGHLIGHTS
The government -wide statement of net position for the City' s governmental and business - type activities indicates that as of June 30, 2025, total assets and deferred outflows of resources exceed total liabilities and deferred inflows of resources by $ 1. 0 billion. Of this amount, governmental activities accounts for $ 654. 3 million and business -type activities accounts for $ 347. 0 million. In addition, the City' s restricted net position totals $ 190. 0 million ($ 188. 5 million for governmental activities and $ 1. 5 million for business -type activities) based on restrictions imposed by the enabling legislations or debt covenants.

Lastly, net position of $660. 8 million is the City' s net investment in capital assets, which includes $ 396. 5 million from governmental activities and $ 264. 3 million from business type activities.

The net position increased by $ 111. 0 million or 12. 5 percent during FY 2025 to $ 1. 0 billion from $ 890. 2 million. Governmental activities accounted for $ 70. 1 million of the increase and business -type activities accounted for $ 40. 9 million of the increase. The largest contributing factor of both increases is due to the acceptance of completed development infrastructure.

The overall assessed property values in the City increased $ 900. 0 million or 11. 5 percent, from $ 7. 8 billion in FY 2024 to $ 8. 7 billion in FY 2025. As a result, the City' s property tax revenue grew by $ 1. 5 million in FY 2025, driven by the 2% increase on all classes of property, as well as the increase in property values, driven by the local real estate market.

Governmental funds reported a combined ending fund balance of $259. 8 million at June 30, 2025, which is $ 30. 5 million or 13. 3 percent higher than the June 30, 2024 balance. The change is attributable to increases in the Capital Facility Fees Fund of $ 18. 6 million, attributed to an increase in development activity, and the Streets and Roads Capital projects fund of $ 10. 3 million attributed to an increases in streets and roads projects.

Unassigned fund balance of governmental funds is $ 22. 6 million, which is 36. 9 percent of the combined governmental fund balances as of June 30, 2025. 5 129
Total long- term liabilities decreased by $ 2. 6 million to $ 25. 1 million, which represents a decrease of 9. 4 percent compared to $ 27. 7 million at June 30, 2024. The primary factors leading to the decrease in long- term liabilities for governmental activities of $0. 9 million was primarily due to decreases in long term debt and leases payable as a result of annual debt service payments. The primary factor leading to the decrease in long- term liabilities for business —type activities of $1. 7 million is a result of a decrease in long term debt for annual debt service payments made in the fiscal year.

OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis introduce the City' s basic financial statements, which are comprised of four components:

Government -wide Financial Statements
Fund Financial Statements
Notes to Basic Financial Statements
In addition, this report contains required and other supplementary information.

GOVERNMENT -WIDE FINANCIAL STATEMENTS
Government -wide Financial Statements provide readers with a broad overview of the City' sfinances that include two different views of the City' s financial position. The government - wide financial statements provide both long- term and short- tem information about the City' s overall financial status.

The statement of net position presents information on all assets, deferred outflows of resources, liabilities, and deferred inflows of resources. The difference between total assets and deferred outflows of resources and total liabilities and deferred inflows of resources is the City' s net position.

Over time increases or decreases in net position may serve as a useful indicator of whether the City' s financial position is improving or deteriorating.

The statement of activities presents information showing how the net positions changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will result in cash flows in future fiscal periods. Examples include revenues pertaining to uncollected taxes and expenses pertaining to earned but unused vacation and other leaves.

Both government - wide financial statements address functions principally supported by taxes and intergovernmental revenues (" governmental activities") and other functions that intend to recover all or in part a portion of their costs through user fees and charges (" business -type activities"). The governmental activities of the City include general government, public safety, capital facilities, building safety and inspection, general capital projects and street capital projects. The City' s business -type activities include water system and wastewater system.

FUND FINANCIAL STATEMENTS
Fund financial statements report information about groupings of related accounts used to maintain control over resources segregated for specific activities or objectives. As do other state and local governments, the City uses fund accounting to ensure and demonstrate finance -related legal compliance. Each City fund falls into one of three categories: governmental funds, proprietary funds, or fiduciary funds.
6 130
Governmental funds account for essentially the same functions reported as governmental activities in the government -wide financial statements. However, unlike the government - wide financial statements, governmental funds financial statements focus on near -term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating the City' scapacity to finance its programs in the near future.

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 some readers may better understand the long- term impact of the government' s near -term financing decisions. Both the Governmental funds balance sheet and statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate comparison between governmental funds and governmental activities.

The governmental funds balance sheet and statement of revenues, expenditures and changes in fund balances present information separately for the General Fund, Developer Projects Fund, Capital Facilities Fee Fund, Streets and Roads Capital Projects Fund, General CIP Projects Fund, and the Park in Lieu Capital Projects Fund, which are all classified as major funds. These statements also report several individual governmental funds classified as nonmajor funds such as special revenue funds and capital project funds, which are aggregated into a single presentation. Individual fund data for each of the nonmajor governmental funds is provided in the form of combining statements elsewhere in this ACFR.

Proprietary funds generally account for services charged to external or internal customers through fees. Proprietary funds provide the same type of information as shown in the government - wide financial statements for business -type activities, only in more detail. The City accounts for its water system and wastewater system in proprietary funds.

Fiduciary funds account for resources held for the benefit of parties outside of the governments in a similar manner as that of proprietary funds. The government -wide financial statements do not include fiduciary funds as their resources are not available to support City programs.

The financial statements also include notes that explain the information in the financial statements and provide more detailed data. In addition to the required elements, combining statements are presented that provide details about the City' s
non -major governmental funds and agency funds,
each of which are presented in consolidated columns in the basic financial statements.

Notes to Basic Financial Statements provide additional information that is essential to a full understanding of the data provided in the government - wide fund financial statements.

Required Supplementary Information includes the budgetary schedules for the General Fund, Developer Projects Fund, and Capital Facility Fees Fund. In addition, pension and other postemployment healthcare schedules present the City' s progress toward funding its obligations to provide future pension and other postemployment healthcare benefits for its active and retired employees.

Combining and individual fund statements and schedules provide information for nonmajor governmental funds, internal service funds, and fiduciary funds and are presented immediately following the required supplementary information.
7 131

GOVERNMENT - WIDE FINANCIAL ANALYSIS
Analysis of Net Position
As noted earlier, net position may serve as a useful indicator of a government' sfinancial position. As of June 30, 2025, the City' stotal assets and deferred out flows of resources exceed total liabilities and deferred inflows of resources by $ 1. 0 billion. The following table is a condensed summary of the City' s net position for governmental and business type activities:

City of Lathrop Summary of Net Position
For the Fiscal Years Ended June 30, 2024 and 2025
in Thousands)
Governmental Business -Type Total Primary
Activities Activities Government
2024 2025 2024 2025 2024 2025
Total
Percent
Change
Assets:

Capital assets
Other assets
Total Assets
Deferred Outflows
Pension
OPEB
Total Deferred Outflows
Liabilities:

Current liabilities
Long- term liabilities
Net Pension liability
Net OPEB liability
Total Liabilities
Deferred Inflows
Pensions
OPEB
Total Deferred Inflows
359, 764 $ 398, 874 $ 239, 161 $ 276,31 $ 598, 925 $ 675, 105 250, 183 281,46 89, 363 100, 722 339, 546 381, 968

12. 72%

12. 49%
609, 947 680, 120 328, 524 376, 953 938, 471 1, 057,73 12. 64% 5, 086 4, 838 749 762 5, 835 5, 600
1, 062 1, 699 168 268 1, 230 1, 967

4. 03%

59. 92%
6, 148 6, 537 917 1, 030 7, 065 7, 567 7. 11%
16, 651 18, 569 10,78 19, 303 26, 829 37, 872
5, 123 3, 875 11, 971 10, 211 17, 094 14, 086
7, 918 7, 850 1,43 1,32 9, 061 8, 982
1, 315 1, 769 207 279 1, 522 2, 048
31, 007 32, 063 23, 499 30, 925 54,06 62, 988

41. 16%

17. 60%

0. 87%

34. 56%

15. 56%
187 72 29 11 216 83
328 246 52 39 380 285

61. 57%

25. 00%
515 318 81 50 596 368 38. 26%
Net Position:

Net Investment
in Capital Assets 356, 772 396, 481 225, 626 264, 359 582, 398 660, 840 13. 47% Restricted 142, 915 188, 520 1, 431 1, 486 144, 36 190, 06 31. 63% Unrestricted 84,86 69, 275 78, 802 81, 161 163, 688 150, 436 - 8. 10% Total Net Position $ 584,73 $ 654, 276 $ 305, 89 $ 347, 006 $ 890, 432 $1, 001, 282 12. 45% At June 30, 2025, the City reported positive balances in net position on a total basis. Net investment in capital assets ( infrastructure, land, buildings, other improvements, vehicles, equipment, lease assets and SBITA less outstanding debt used to acquire assets and deferred inflows and outflows related to debt) of $660. 8 million comprises 66. 0percent of the City' stotal net position. These capital assets facilitate providing services to the Lathrop community, but are not liquid, and therefore are not available for future spending. During FY 2025 net investment in capital assets increased $ 78. 4 million primarily due to an increase of $ 39. 7 million in governmental activities and an increase of

38. 8 million in business -type activities, due to an increase in infrastructure acceptance from 8 132
development. A portion of the City' s net position, $ 190. 0 million or 19. 0 percent, is subject to legal restriction of their use, including $188. 5 million in governmental activities and $ 1. 5 million in business - type activities. Of the total net position at June 30, 2025, a balance of $150. 4 million or 15. 0 percent represents unrestricted net position, which comprises a balance of $ 69. 2 million for governmental activities and a balance of $81. 2 million for business -type activities.

During FY 2025, the City' s total net position increased by $ 111. 0 million. Notable changes in the statement of net position between June 30, 2025, and June 30, 2024 include:

Assets
Capital assets increased by $ 76. 2 million compared to the prior fiscal year. Governmental capital assets increased by $ 39. 2 million and business -type capital assets increased by $37. 0 million. The increase is result of the addition of major infrastructure in both Governmental and Business -type funds. Governmental capital assets recorded additions of $39. 1 million, which included $ 11. 6 million in capital projects, $2. 1 million in property acquisitions, $ 3. 8 million in vehicles and equipment, $4. 2 million in improvements other than building, and $ 35. 2 million in donated developer infrastructure, offset by $ 16. 2 million of depreciation and the sale of land in the amount of $ 1. 5 million. Business - type capital assets recorded additions of

37. 0 million, which included $ 3. million in water system improvements, $1. 0 million in water capital projects, $8. 9 million in sewer system improvements, $ 30. 4 million in sewer capital projects and $ 0. 2 million in vehicles and equipment, offset by depreciation of $6. 5 million and asset retirements of $0. 3 million.

Current and other assets increased by $ 42. million or 12. 5 percent due to an increase of

31. 1 million in governmental activities and an increase of $ 11. 3 million in business -type activities. The increase in governmental activities is mainly due to an increase in cash and investments held with fiscal agents from higher sales and property tax revenues. The increase in current assets for business -type activities is mainly due to higher cash and investments resulting from more revenue received through charges for services.

Liabilities
Total long- term liabilities decreased by $ 3. 0 million to $ 14. million at June 30, 2025, which represents an decrease of 17. 5 percent compared to $ 17. million at June 30, 2024. The primary factors leading to the decrease in long- term liabilities is due to decreases in compensated absences of $ 0. 7 million, and long term debt and loans payable and leases payable of $2. 3 million due to annual debt service payments.

Current and other liabilities increased $ 11. million or 41. percent due to increases of $2. 0 million in governmental activities, and $ 9. 1 million in business -type activities. Governmental activities recorded increases of $ 1. 5 million in compensated absences as a result of the implementation of GASB Statement 101. The primary factor leading to an increase in business -type activities is an increase of $9. 3 million in accounts payable attributed to accrued payables for the phase 3 wastewater treatment plant expansion.

Deferred Outflows/ Inflows
Deferred outflows of resources increased $ 0. 5 million to $ 7. 6 million at June 30, 2025, which represents an increase of 7. 0 percent compared to $ 7. 1 million at June 30, 2024. The primary factor leading to the increase in deferred outflows is an increase of $0. 7 million in OPEB offset 9 133
by a decrease of $ 0. 2 million pension outflows. The increases are a direct result of adding additional employees and increases in salaries.

Deferred inflows decreased by $ 0. 2 million to $ 0. 4 million at June 30, 2025, which represents a decrease of 33. percent compared to $ 0. 6 million at June 30, 2024. The decrease of deferred inflows was primarily due to the decrease in deferred inflows related to staffing changes.

Net Position
Unrestricted net position for governmental activities decreased by $ 15. 5 million or 18. 3 percent with an ending balance of $ 69. 3 million at June 30, 2025. For business - type activities, unrestricted net position increased by $2. 4 million or 3. 0 percent with a balance of

81. 2 million at June 30, 2025. The following pages will provide additional discussion and analysis of the changes in net position.

Analysis of Activities
The following table indicates the changes in net position for governmental and business -type activities:
10 134
City of Lathrop Changes in Net Position
For the Fiscal Years Ended June 30, 2024 and 2025
in Thousands)
Revenues:

Program revenues:

Charges for services
Operating grants and contributions
Capital grants and contributions
General revenues:

Sales and use taxes
Property taxes
Franchise taxes
Transient occupancytaxes
Other taxes
Other miscellaneous
Unrestricted investment earnings
Total Revenues
Expenses:

Governmental activities:

General government
Communitydevelopment
Public safety
Public works
Culture and leisure
Interest on long- term debt
Business -type activities:

Water enterprise
Sewer enterprise
Total expenses
Excess before transfers
Transfers
Change in Net Position
Net Position - Beginning
Restatements
Net Position, Beginning, Restated
Net Position - Ending
Governmental
Activities
2024 2025
Business -Type
Activities
2024 2025
Total Primary
Government
2024 2025
Total
Percent
Change
20, 165 22, 059 22, 649 25, 018 42, 814 47, 077 9.6%
5, 756 3, 703 5, 756 3, 703 35. 67%
58, 107 83,05 24, 530 14, 316 82, 637 98, 121 18. 74%
21, 039 19, 809 21, 039 19, 809 5. 85%
12,78 13, 217 12,78 13, 217 8. 53%
2, 773 2, 979 2, 773 2, 979 7. 43%
1, 097 1, 046 1, 097 1, 046 4. 65%
2, 656 2, 865 2, 656 2, 865 7. 87%
1, 026 537 620 1, 501 1, 646 2, 038 23. 82%
10, 282 12, 948 3, 603 4, 269 13, 885 17, 217 24. 00%
135, 079 162, 968 51, 402 45, 104 186, 481 208, 072 11. 58% 11, 905 14, 094 11, 905 14, 094 18. 39%
1, 240 1, 071 1, 240 1, 071 13. 63%
19, 911 23, 027 19, 911 23, 027 15. 65%
25, 161 28, 341 25, 161 28, 341 12. 64%
4, 895 5, 921 4, 895 5, 921 20. 96%
218 209 218 209 4.13%
8,09 9, 534 8,09 9, 534 8. 23%
11, 907 14, 838 11, 907 14, 838 24. 62%
63, 330 72, 663 20, 716 24, 372 84, 046 97, 035 15. 45% 71,49 90, 305 30, 686 20, 732 102, 435 111, 037 8. 40%
1, 808 20, 154) 1, 808) 20, 154 0.0%
73, 557 70, 151 28, 878 40, 886 102, 435 111, 037 8.40% 505, 301 584,73 280, 120 305, 89 785, 421 890, 432 13. 37% 5, 714 446) 3, 139) 258 2, 575 188) 0.0%
511, 05 584, 127 276, 981 306, 117 787, 996 890, 244 12. 98% 584,73 654, 279 305, 89 347, 003 S 890, 431 1, 001, 281 12. 45% Governmental Activities
The change in net position for governmental activities decreased by $3. 4 million during FY 2025 from

73. 6 million to $ 70. 2 million. Total expenses increased $ 9. 4 million and total revenues increased

27. 9 million. The major factors contribution to the increase in net position in FY 2025 compared to FY 2024 are as follows:

Revenues
Fees, fines and charges for service increased by $ 1. 9 million or 9. 4 percent, mainly due to developer paid plan check and inspection fees collected as a result of development.

Operating grants and contributions decreased by $ 2. 1 million or 36. 2 percent mainly due to a one- time transit funding received in previous fiscal year.

Capital grants and contributions increased by $25. 7 million or 44. 2percent mainly due to the decrease in donation of infrastructure from developers. 11 135
General revenue increased $ 2. 3 million or 4. 5 percent. The increase is primary due to increases of $1 million in property tax revenue, which grew as a result of the 2% rate increase on all classes of property, as well as an increase in taxable property values, driven by the local real estate market and an increase of $2. 6 million in investment earnings as a result of higher investment returns in Fiscal Year 2025.

Expenses
General government expenses increased $ 2. million or 18. 5 percent during FY 2025. This increase is due to annual cost of living adjustments for all employees, and increased expenses in cyber security, general liability and property insurance, and information technology equipment.

Public safety expenses increased $ 3. 1 million or 15. 6 percent primarily due to expenses for establishing the animal center and hiring staff, adding an additional 5 patrol officers including salary, benefits and equipment, and an increase in overtime due to reduced staffing.

Public Works expenses increased $ 3. 1 million, primarily due to the reallocation of staff from culture and leisure to the public works department.

Net transfers reduced net position by $ 22. 0 million in FY 2025, primarily due to increased transfers out in the developer project fund for the expansion of the consolidated wastewater treatment facility.
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The chart below shows the primary components of governmental activities revenue sources for FY 2025. Of the $ 163. 0 million in total revenues ( not including transfers) generated by governmental activities, 77 percent is attributable to three categories: capital grants and contributions ( 51 percent), charges for service ( 14 percent) and sales and use tax ( 12 percent).

GOVERNMENTAL ACTIVITIES
FY 2025 Revenues by Source
Capital grants and
contributions
51%
Operating grants and
contributions
2%
Charges for services
14%
Unrestricted
investment earnings
8%
Other miscellaneous
0%
Other taxes
2%
Sales and use taxes
12%
Property taxes
8%
Franchise taxes
2%
Transient occupancy
taxes
1%
The chart below shows the major categories of the FY 2025 expenses for governmental activities. Of the $ 72. million in total expenses incurred by governmental activities, 90. 0 percent is attributable to three categories: public works ( 39 percent), public safety ( 32 percent) and general government 19 percent).

Public safety
32%
Community
development
2%
General government
19%
Interest on long- term
debt
0%

GOVERNMENTAL ACTIVITIES
FY 2025 Expense by Source
Culture and leisure
8%
Public works
39%
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Business -type Activities
The change in net position for business -type activities increased by $ 12. 0 million or 41. 5 percent to

40. 9 million in FY 2025.

The notable components of the changes in net position for business -type activities in FY 2025 are:

Water
Water net position increased by $ 9. 2 million or 8. 3 percent from $ 111. 5 million to $ 120. 8 million.

The increase is primarily due to capital infrastructure contributions of $1. 6 million from development, operating revenues of $ 13. 6 million, attributed to the City' scontinued growing customer base and

3. 2 million in non -operating revenues from increased investment earnings, offset by operating expenses of $9. 2 million, which includes operating and maintenance and depreciation expense for the City' s water system. The largest portion of net position, $73. 0 million or 60. 4 percent, is net investment in capital assets ( e.g. land, buildings, and infrastructure). Approximately $ 46. 3 million or

38. percent of the total net position, constitutes unrestricted net position, which may be used to finance day- to- day operations without constraints.

Operating revenues increased by $ 2. 1 million primarily due to an increase in the customer base due to new construction. Operating expenses of $ 9. 2 million increased by $ 0. 7 million or 8. 2 percent largely due to an increase in operation and maintenance costs to support the water system.

Sewer
Sewer net position increased by $ 31. 6 million or 16. 2 percent from $ 194. 6 million to $226. million.

The increase is primarily attributed to capital infrastructure contributions of $8. 9 million and transfers in of $23. 6 million from development to fund the expansion of the City' s Consolidated Wastewater
Treatment Plant. The largest portion of net position, $191. 4 million or 84. 6percent, is net investment in capital assets ( e.g. land, buildings, and infrastructure). Approximately $34. 8 million or 15. 4percent of the total net position, constitutes unrestricted net position, which may be used to finance day- today operations without constraints.

FINANCIAL ANALYSIS OF THE CITY' SFUNDS
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance - related legal requirements.

As of June 30, 2025, the City' s governmental funds reported combined fund balances of $ 259. 8 million compared to $ 229. 3 million in FY 2024. The governmental fund balances are categorized as nonspendable, restricted, committed, assigned, or unassigned.

8. 3 million consists of nonspendable fund balance related to advances and deposits longterm in nature that are not intended to convert into cash and do not represent currently available resources.
188. 5 million is reported as restricted fund balance that includes restrictions imposed by external parties or enabling legislation. This amount includes unspent grant revenues and restricted tax revenues.
14 138

40. million is reported as committed fund balance that has been limited by formal Council action for a specific purpose.

22. 6 million is reported as unassigned fund balance that represents the residual classification for the City' s
General Fund and includes all spendable amounts not contained in other classifications.

General Fund
The General Fund is the chief operating fund of the City. At June 30, 2025 the General Fund unassigned fund balance is $ 22. 6 million or 36. 8 percent of the $ 61. 3 million total General Fund balance. Comparing unassigned fund balance and total fund balance to total fund expenditures may be useful as a measure of the General Fund' scapacity to meet future obligations. At June 30, 2025 unassigned fund balance represented 57. 7 percent of total General Fund expenditures of $ 39. 2 million, while total fund balance represents 196. 4 percent of total General Fund expenditures. At June 30, 2024, the same measures were 48. 0 percent and 194. 4percent, respectively.

The General Fund ending fund balance decreased by $0. 7 million from $ 62. 0 million to $61. 3 million at June 30, 2025.

In FY 2025, the General Fund revenues stayed flat at $ 42. 6 million. While the City did see growth of

1. 0 million in property tax revenue, the growth was offset by a decrease of $1. 2 million in sales tax revenue.

FY 2025 General Fund expenditures of $39. 2 million were $ 5. 3 million or 15. 6 percent higher than FY 2024 expenditures of $33. 9 million. The increase was primarily due to an increase of $2. 6 million in general government due to annual cost of living adjustments for all employees, and increased expenses in cyber security, general liability and property insurance, and information technology equipment, and $ 2. million in public safety, which was a direct result of creating the animal center and hiring staff, adding an additional 5 patrol officers including salary, benefits and equipment, and an increase in overtime due to reduced staffing.

Developer Projects
The Developer Project Fund accounts for funds collected from developers to build city project, including parks, water and wastewater infrastructure. At June 30, 2025, the fund has an ending fund balance of $1. million, which is $ 0. 5 million or 83. 3 percent higher than FY 2025. In FY 2025, the City collected money from developers to complete phase 3 of the City' s Consolidated Wastewater
Treatment Plant Expansion.

Capital Facility Fees Fund
The Capital Facilities Fees Fund accounts for fees collected for traffic mitigation ( including regional traffic), storm drain, culture and leisure, city services and administration. At June 30, 2025, the fund has an ending fund balance of $ 67. 1 million, which is $ 18. 6 million or 38. 4 percent higher than FY 2024. The monies in this fund are collected from builders and developers at building permit to construct City infrastructure.
15 139
Streets and Roads Capital Proiect Fund
The Streets and Roads Capital Projects Fund accounts for capital project expenditures related to streets and roads occurring over more than one fiscal year. As of June 30, 2025, the fund balance of the Streets and Roads fund is $ 32. 2 million, which $ 10. 4 million or 47. 7 percent higher than FY 2024. Revenue is transferred into this fund from capital facility funds, the general fund, grants, and sometime developers to maintain, repair or build new streets throughout the City.

General CIP Projects Fund
The General CIP Projects Fund accounts for capital projects funded by the General Fund occurring over more than one fiscal year. The fund balance of the General CIP project fund on June 30, 2025 is $ 18. million, which is $ 1. 5 million or 7. 6 percent lower than FY 2024. The City fund many projects in FY 2025, including the Historic Lathrop Beautification Project and Corporation Yard Improvements that were expensed from this fund.

Park in Lieu Fund
The Park in Lieu fund collects revenue from development in lieu of the development dedicating land and/ or constructing the park infrastructure required by the new development. The fund balance of the Park in Lieu Fund on June 30, 2025 is $ 0. 6 million, which is $ 2. 5 million or 416. 7percent less than FY 2024. In FY 2025, the City reimbursed a master developer for funds received from merchant builders in prior fiscal years, for park improvements constructed by the master developer.

Proprietary Funds
The City' s proprietary funds provide similar information to that which is found in the government - wide financial statements, but in more detail. Each fund' sfinancial transactions, both near -term and historic, are provided in the statement of net position and the statement of revenues, expenses, and changes in net position. In addition, these proprietary funds also present a statement of cash flows.

In FY 2025, the water utility enterprise fund increased its net position from $ 111. 5 million to $ 120. 8 million. Unrestricted net assets at the end of the fiscal year amounted to $ 46. 3 million, and are available for future capital water system improvements. $73. 0 million of the Water Fund' s net position are net investment in capital assets and are not available for liquidation to support operations. The remaining $ 1. 5 million is restricted to satisfy debt service obligations and covenants.

In FY 2025, the sewer utility fund increased its net position from $ 194. 6 million to $ 226. million.

Unrestricted net position at the end of the fiscal year amounted to $ 34. 8 million and is available for future capital sewer system improvements. $ 191. 4 million of the Sewer Fund' s net position is net investment in capital asset and are not available for liquidation to support operations.

Other factors concerning the finances of these funds have already been reviewed in the discussion of the City' s business -type activities. The capital assets section on the following pages will provide additional discussion and analysis of the business -type financial activities.

GENERAL FUND BUDGETARY HIGHLIGHTS
Staff submits a balanced operating and capital budget biennially to the City Council for approval. The Biennial FY 2023/024 and FY 2024/025 was presented to Council in June of 2023. 16 140
Over the course of the year, the City Council revised the City budget with adjustments that are comprised within the following two categories:

Changes made in the mid -year report to adjust revenues, augment current year expenditure appropriations, and establish or increase designation of fund balance.

Other revenue adjustments and expenditure appropriations approved after the original budget is adopted, and before or after the mid -year report is approved.

During the year ended June 30, 2025, there was a $ 1. 8 million increase in budgeted revenues between the orginal and final amended operating budget for the General Fund. The increase in budgeted revenues was primarily due to an increase in property tax revenues of $ 1. 5 million and motor vehicle in lieu revenues of $0. 3 million, both are a direct result of increased property values.

Actual revenues of $ 32. 1 million were $ 7. 4 million more than the amended budget as of June 30, 2025 and $ 9. 2 million more than the original budget. The increase in revenue is attributed to the increase in property values, increase in home sales and higher than expected investment returns.

During the year ended June 30, 2025, there was a $ 10. 0 million increase in budgeted expenses between the orginal and final amended operating budget for the General Fund. The increase in budgeted expenses was primarily due to an increases in general government of $ 2. 5 million, as a result of annual cost of living adjustments for all employees, and increased expenses in cyber security, general liability and property insurance, and information technology equipment, $1. 3 million in public safety, which was a direct result of creating the animal center and hiring staff, adding an additional 5 patrol officers including salary, benefits and equipment, and an increase in overtime due to reduced staffing, and $ 3. 7 million in public work, which is a result of reassigning parks maintenance from culture and leisure to public works and hiring additional staff to assist with the work load.

Actual budgetary expenditures of $ 38A million were $ 3. 9 million less than the amended budget as of June 30, 2025 and $ 6. 1 million more than the original budget.

CAPITAL ASSET AND DEBTADMINISTRATION
Capital Assets
The City' scapital assets net of accumulated depreciation, for its governmental and business -type activities together amounted to $ 675. 1 million at June 30, 2025. This investment includes land, infrastructure, improvements, vehicles, equipment, and construction in progress. For the year ended June 30, 2025, net capital assets increased $ 76. 1 million ($ 39. 1 million in governmental activities and

37. million in business -type activities) compared to net capital assets on June 30, 2024. The increase in both governmental activities and business -type activities is primarily due to the acceptance of infrastructure and improvements from development and construction in progress of many capital improvement projects.

Total construction in progress increased by $ 34. 4 million from $ 34. 8 million on June 30, 2024, to

69. 2 million on June 30, 2025. Construction in progress for governmental activities increased by

3. 1 million primarily due $ 11. 6 million of additions in general CIP and streets projects, offset by $8. 5 million of projects being transferred into service. Business -type activities contributed an increase of

31. million to the total CIP as additions to the Water and Sewer Systems totaling $ 31. 4 million were offset by $ 0. 1 million in projects that were completed and placed into service. The largest construction in progress sewer project is the phase 3 consolidated treatment plant expansion. 17 141
The City records infrastructure assets at historical costs in the government -wide financial statement and depreciates assets from acquisition date to the end of the current fiscal year as required by GASB Statement No. 34. For governmental fund financial statements recording purposes, capital asset purchases are recorded as expenditures, rather than capitalizing and recording related depreciation.

Capital assets, net of depreciation for governmental and business -type activities in the government - wide financial statements are presented below to illustrate changes between FY 2024 and FY 2025 in thousands):

For the Fiscal Years Ended June 30, 2024 and 2025
in Thousands)
Governmental Business - Type Total Primary
Activities Activities Government
2024 2025 2024 2025 2024 2025
Land
Construction in Progress
Buildings
Improvements other than
building
Infrastructure
Equipment and vehicles
Right to use Assets
Total Capital Assets
13, 472 14, 070 3, 739 3, 739 17, 211 17, 809
30, 952 34, 039 3, 895 35, 163 34, 847 69, 202
20, 816 20, 164 0 0 20, 816 20, 164
71, 691 74,56 230, 430 236,06 302, 11 310, 962
218, 332 248, 509 0 0 218, 332 248, 509
3, 619 6, 723 1, 097 1,22 4, 716 7, 845
882 613 0 0 882 613
359, 764 398, 874 239, 161 276,30 598, 925 675, 104
Additional information about the City' scapital assets can be found in the Notes to Basic Financial Statements, Note 4.

Debt Administration
The City' slong- term debt service obligation include revenue bonds, lease revenue bonds and private placement debt. During the current fiscal year, the City' s outstanding long- term debt decreased by

2. 3 million to $ 14. 3 million, comprising $ 0. 6 million in governmental activities and $ 1. 7 million in business -type activities. The decrease of in both governmental and business -type activities is a result of debt service payments and no new bond issuances.

For the Fiscal Years Ended June 30, 2024 and 2025
in Thousands)
Governmental Business - Type Total Primary
Activities Activities Government
2024 2025 2024 2025 2024 2025
2017 Bank Loan $ $ $ $ $
6 6, 724 5, 966 6, 724 5, 966
State Revolving Fund
Loan 4, 588 4, 099 4, 588 4, 099
Compass Bank Loan 2,22 1, 807 2,22 1, 807
Financed Purchases
2, 992 2, 393 - - 2, 992 2, 393
Total Long Term Debt 2, 992 2, 393 13, 534 11, 872 16, 526 14, 265 18142
Additional information about the City' s long- term outstanding debt can be found in the notes to the Basic Financial Statements, Note 6.

ECONOMIC FACTORS AND NEXT YEAR' SBUDGETS AND RATES
The City Council considered many factors when setting the Fiscal Year 2025/6 budget. The City primarily relies on property tax and sales tax revenues to provide services and amenities to the community. Lathrop' s population has experienced significant growth over the last several years. In 2024 and 2025 the city experienced an 5. 4 percent and 4. 2 percent, respectively, increase in its population making it one of the fastest growing city with a population over 30, 000 in California, for three years in a row. While higher population is an exciting sign of growth, the City also recognizes some of the challenges such growth brings in the planning and management of serving our new residents. With City Council' sguidance, the City has built strong financial reserves to draw from in unknown times, and continues to maintain a sound financial position.

Over the past decade, the City Council and City staff have focused on ensuring a sustainable economic future for the City of Lathrop supporting steady growth projections for the future. The City has a goal to provide an environment for strong industrial, commercial and residential growth that has resulted in a solid financial foundation. This has been possible because of stability in City Hall staffing, with a skilled and committed City staff team. These factors have positioned the City to be able to stand up a new Police Department in 2022, to provide services that continue to meet the needs of residents, businesses, schools, community groups and visitors in Lathrop in a cost- effective manner.

Building permit issuance by the City for new residential and commercial development is the key driver used to estimate various revenue streams. These revenues are deposited into various funds.

Examples of these revenues include: sales and use taxes on construction materials and equipment; capital facility fees charged to mitigate the impact of new development -driving a need for more parks and street capital investments; system development charges ( investment/ tapfees) assessed to finance future capital investment for water, sewer, and storm drainage systems.

As mentioned above, the level of single- family dwelling unit building permits issued, measured at 554 in FY 2025, this level exceeds the 334 issued years earlier in Fiscal Year 2006/ 07 during the height of the previous housing boom.

These major economic indicators were all considered when adopting the General Fund budget for FY 2025/6 budget.

CONTACTING THE CITY FINANCIAL MANAGEMENT
This financial report is designed to provide our residents, taxpayers, customers, investors and creditors with a general overview of the City' s finances and to show the City' s accountability and transparency for the money it receives. If you have questions about this report or need additional financial information, contact the City of Lathrop - Finance Department, 390 Towne Centre Drive, Lathrop, California 95330, ( 209) 941- 7320.
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BASIC

FINANCIAL STATEMENTS
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GOVERNMENT -WIDE

FINANCIAL STATEMENTS
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City of Lathrop
Statement of Net Position
June 30, 2025
Primary Government
ASSETS
Current assets:

Cash and investments
Receivables:

Accounts ( net of allowance for uncollectibles)
Notes and loans
Accrued interest
Internal balances
Restricted assets:

Cash with fiscal agent
Prepaids
Governmental Business - type
Activities Activities Total
272, 597,04 $ 95, 425, 323 $ 368, 022, 827
7, 185, 698 4,20, 634 11, 606, 332
20, 350 20, 350
611, 779 197, 601 809, 380
808, 16 ( 808, 16) -
1, 486, 322 1, 486, 322
22, 034 - 22, 034
Total current assets 281,45, 551 100, 721, 694 381, 967, 245 Noncurrent assets:

Capital assets:

Nondepreciable
Depreciable
Less accumulated depreciation
Total noncurrent assets
Total assets

DEFERRED OUTFLOWS OF RESOURCES
Deferred pension related items
Deferred OPEB related items
Total deferred outflows of resources

LIABILITIES
Current liabilities:

Accounts payable
Accrued liabilities
Accrued interest
Unearned revenue
Deposits payable
Compensated absences
Long- term debt & loans payable
Leases payable
48, 108, 479 38, 902, 668 87, 011, 147
500, 270, 862 317, 133, 279 817, 404, 141
149, 505, 336) ( 79, 805, 005) ( 229, 310,41)
398, 874, 005
680, 119, 556
276,30, 942 675, 104, 947
376, 952, 636 1, 057,72, 192
4, 838, 020
1, 699, 347
6, 537, 367
761, 541 5,99,61
267, 944 1, 967, 291
1, 029, 485 7, 566, 852
11, 495, 601
149, 466
243, 306
4, 006, 510
1, 975, 189
340, 00
358, 80
16, 370, 540
21, 562
1, 093, 783
101, 489
1, 716, 112
27, 866, 141
149, 466
21, 562
243, 306
5, 100, 293
2, 076, 678
2, 056, 112
358, 80
Total current liabilities 18, 568, 952 19, 303, 486 37, 872, 438 Noncurrent liabilities:

Compensated absences 2, 180, 216 54, 648 2,34, 864
Long- term debt & loans payable 1, 440, 000 10,56, 303 11, 596, 303 Leases payable 254, 568 - 254, 568
Net pension liability 7, 850, 213 1,32, 225 8, 982, 438 Net OPEB liability 1, 768, 693 278, 576 2, 047, 269
Total noncurrent liabilities
Total liabilities

DEFERRED INFLOWS OF RESOURCES
Deferred pension related items
Deferred OPEB related items
Total deferred inflows of resources

NET POSITION
Net investment in capital assets
Restricted for:

Community development
Public safety
Culture and leisure
Public works
Capital projects
Debt service
Unrestricted
Total net position
13, 493, 690
32, 062, 642
71, 978
246, 518
11, 621, 752 25, 115, 442
30, 925, 238 62, 987, 880
11, 328 83, 306
39, 463 285, 981
318, 496 50, 791 369, 287
396, 480, 557 264, 358, 527 660, 839, 084
2, 125, 082 2, 125, 082
89, 385, 102 89, 385, 102
558, 446 558, 446
23,07, 051 - 23,07, 051
73, 244, 317 73, 244, 317
1, 486, 322 1, 486, 322
69, 275,30 81, 161, 243 150, 436,73
654, 275, 785 $ 347, 006,92 1, 001, 281, 877
See accompanying Notes to Basic Financial Statements.
25 149
City of Lathrop
Statement of Activities
For the year ended June 30, 2025
Program Revenues
Functions/ Programs
Operating Capital
Charges for Grants and Grants and
Expenses Services Contributions Contributions Total
Governmental activities:

General government
Public safety
Community development
Culture and leisure
Public works
Interest on long- term debt
Total governmental activities
Business -type Activities:

Water
Sewer
Total business - type activities
14, 094, 572 $ 9, 862, 458 $ 1, 670,79 $ 5, 015, 201 $ 16, 548, 338 23, 027, 105 171, 44 129, 049 94, 663 395, 126
1, 071, 454 6, 708, 195 134, 358 3, 200,90 10, 042, 843 5, 921, 321 364, 280 - 4, 039,96 4,03, 376
28, 341, 417 4, 952, 767 1, 768,36 71, 455, 764 78, 177, 267 209, 452 - -
72, 665, 321 22, 059, 114 3, 702, 822 83,05, 014 109, 566, 950 9, 534, 309 12, 441,30
14, 838, 044 12, 577, 405
4, 506, 876 16, 948, 306
9, 809, 428 22, 386, 833
24, 372,53 25, 018, 835 14, 316,04 39,35, 139
Total primary government $ 97, 037, 674 $ 47, 077, 949 $ 3, 702, 822 $ 98, 121, 318 $ 148, 902, 089 General Revenues:

Taxes:

Property taxes, levied for general purpose
Transient occupancy taxes
Sales taxes
Franchise taxes
Other taxes Sr assessments
Use of money and property
Other
Transfers
Total general revenues and transfers
Change in net position
Net position - beginning of year
Restatements
Net position - beginning of year, as restated
Net position - end of year
See accompanying Notes to Basic Financial Statements.
26 150
Net ( Expense) Revenue
and Changes in Net Position
Governmental Business - Type
Activities Activities Total
2, 453, 766 $ - $ 2, 453, 766
22, 631, 979) ( 22, 631, 979)
8, 971, 389 8, 971, 389
1, 517, 945) ( 1, 517, 945)
49, 835,50 49, 835,50
209, 452) ( 209, 452)
36, 901, 629 36, 901, 629
7, 413, 997 7, 413, 997
7, 548, 789 7, 548, 789
14, 962, 786 14, 962, 786
36, 901, 629 14, 962, 786 51, 864, 415
13, 217, 096 - 13, 217, 096
1, 046, 702 - 1, 046, 702
19, 809, 001 - 19, 809, 001
2, 979, 604 - 2, 979, 604
2, 864, 672 - 2, 864, 672
12, 948, 015 4, 269, 570 17, 217, 585
536, 691 1, 501, 418 2, 038, 109
20, 154, 571) 20, 154, 571
33, 247,10 25, 925, 559 59, 172, 769
70, 148, 839 40, 888, 345 111, 037, 184
584,73, 128 305, 89, 347 890, 432,75
446, 182) 258, 400 ( 187, 782)
584, 126, 946 306, 117, 747 890, 244, 693
654, 275, 785 $ 347, 006,92 $ 1, 001, 281, 877
See accompanying Notes to Basic Financial Statements.
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FUND

FINANCIAL STATEMENTS
Governmental Fund Financial Statements
Proprietary Fund Financial Statements
Fiduciary Fund Financial Statements
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City of Lathrop
Major Governmental Funds
Year Ended June 30, 2025
The funds described below were determined to be Major Funds by the City in fiscal year 2024. Individual non -major funds may be found in the Supplementary Information section

GENERAL FUND
This fund accounts for all financial resources except those accounted for in another fund. It is the general operating fund of the City.

DEVELOPER PROJECTS
This fund accounts for revenues received and expenditures spent associated with various developer projects.

CAPITAL FACILITY FEE SPECIAL REVENUE FUND
To account for the financial resources associated with the capital facility fees for Traffic Mitigation ( includes Regional Traffic), Storm Drain, Culture and Leisure, City Service, and Administration.

STREETS AND ROADS CAPITAL PROJECTS FUND
To account for capital project expenditures related to streets and roads occurring over more than one fiscal year.

GENERAL CIP PROJECTS CAPITAL PROJECTS FUND
To account for the expenditure of funds for projects funded from the General Fund.

PARK IN LIEU CAPITAL PROJECTS FUND
To account for revenues and expenditures which can legally be made under the Quimby Act. The revenue is collected from residential developers to offset the impact on parks and can only be used for new park development. 31 155
City of Lathrop
Balance Sheet
Governmental Funds
June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts ( net of allowance for uncollectibles)
Notes and loans
Accrued interest
Prepaids
Advances to other funds
Total assets

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued liabilities
Unearned revenue
Deposits payable
Advances from other funds
Total liabilities
Special Revenue Funds
Capital Project
Funds
General Fund Developer Projects Capital Facility Fees Streets and Roads 51, 310, 983 $ 2,36, 163 $ 76, 880, 580 $ 33,24, 028
4, 088, 155 29,07 3, 194 73
110, 830 21, 764 170, 02 70, 565
22, 034 - - -
8, 306, 186
63, 838, 188 $ 2,87, 134 $ 77, 053, 776 $ 33,94, 666
1,66, 447 $ - $ 2, 486,79 $ 1, 219, 884
149, 466 - -
243, 306 -
924, 354 1,46, 437
7, 498, 000 -
2, 483, 573 1,46, 437 9,84, 479 1, 219, 884
Deferred Inflows of Resources
Unavailable revenue 56, 618
Total deferred inflows of resources 56, 618
Fund Balances:

Nonspendable
Restricted
Committed
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
8, 328, 220 - -
1,40, 697 67, 069, 297 30, 959, 375
30, 410, 317 1, 215, 407
22, 559, 460 -
61, 297, 997 1,40, 697 67, 069, 297 32, 174, 782
63, 838, 188 $ 2,87, 134 $ 77, 053, 776 $ 33,94, 666
See accompanying Notes to Basic Financial Statements.
32 156
Capital Project
Funds
General CIP
Projects Park in Lieu
Nonmajor Total
Governmental Governmental
Funds Funds
19,29, 902 $ 3, 800, 249 $ 82, 212, 944 $ 268, 894,49
6, 548
42, 997 8, 550
3, 058, 521 7, 185, 698
20, 350 20, 350
187, 01 611, 779
22, 034
8, 306, 186
19,79, 447 $ 3, 808, 799 $ 85, 478, 886 $ 285, 040, 896 1, 075,61 $ 3, 250, 353 $ 2,97, 377 $ 11, 495, 601
149, 466
243, 306
1, 935, 719 4, 006, 510
7, 498, 000
1, 075,61 3, 250, 353 4, 233, 096 23, 392, 883
1, 796, 428 1, 853, 046
1, 796, 428 1, 853, 046
9, 341,15
8, 763, 071
8, 328, 220
558, 446 79, 450, 868 188, 519, 998
40, 388, 795
1, 506) 22, 557, 954
18,04, 386 558, 446 79, 449, 362 259, 74, 967
19,79, 447 $ 3, 808, 799 $ 85, 478, 886 $ 285, 040, 896 See accompanying Notes to Basic Financial Statements.
33 157
City of Lathrop
Reconciliation of the Governmental Funds Balance Sheet
to the Government -Wide Statement of Net Position
June 30, 2025
Total Fund Balances - Total Governmental Funds $ 259, 74, 967 Amounts reported for governmental activities in the statement of net position are different because:

Capital assets used in governmental activities were not current financial resources. Therefore, they were not reported in the Governmental Funds Balance Sheet. Except for the internal service funds reported below, the capital assets were adjusted as follows:

Nondepreciable
Depreciable, net
48, 108, 479
350, 765, 526
Total capital assets 398, 874, 005
Unavailable revenues recorded in the fund financial statements resulting from activities in which revenues were earned but were not available are reclassified as revenues in the Government -Wide Financial Statements.

In the Government - Wide Financial Statements, deferred employer contributions for pension and OPEB, certain differences between actuarial estimates and actual results, and other adjustments resulting from changes in assumptions and benefits are deferred in the current year.

Deferred outflows of resources related to pension
Deferred outflows of resources related to OPEB
Deferred inflows of resources related to pension
Deferred inflows of resources related to OPEB
Long- term liabilities were not due and payable in the current period. Therefore, they were not reported in the Governmental Funds Balance Sheet.

Compensated absences - due within one year
Long- term debt - due within one year
Leases payable - due within one year
Compensated absences - due in more than one year
Long- term debt - due in more than one year
Leases payable - due in more than one year
Net pension liability
Net OPEB liability
Total long- term liabilities
1, 853, 046
4, 838, 020
1, 699, 347
71, 978)
246, 518)
294,88)
340, 000)
358, 80)
158, 462)
L440, 000)
254, 568)
7, 850, 213)
1, 768, 693)
12, 465, 104)
Net Position of Governmental Activities $ 654, 275, 785 See accompanying Notes to Basic Financial Statements.
34 158
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35 159
City of Lathrop
Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds
For the year ended June 30, 2025
REVENUES:

Taxes and assessments
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Developer participation
Miscellaneous
Total revenues
EXPENDITURES:

Current:

General government
Public safety
Community development
Culture and leisure
Public works
Capital outlay
Debt service:

Principal retirement
Lease principal retirement
Interest and fiscal charges
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers in
Transfers out
Lease and software subscription issuance
Proceeds from sale of capital assets
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
Restatement
Beginning of year, as restated
End of year
Special Revenue Funds
Capital Project
Funds
General Fund Developer Projects Capital Facility Fees Streets and Roads 33,60, 814 $
273, 823
4, 997,18
641, 286
2, 892,57
135, 38
265, 519
17, 336, 960 $
512, 182 3,39, 679 1,09, 486
23, 909, 629
563, 022
42, 567,75 24, 421, 811 21,39, 661 1,09, 486
13, 680, 470
15, 366, 699
1, 076,39
1, 889, 440
3, 079, 815
3, 140, 389
330, 00
591,63
49, 598
9, 327, 964
39, 204, 013 - 9, 327, 964
3,63, 562 24, 421, 811 21,39, 661 ( 8, 218, 478)
8, 342, 914 -
12, 784,01) ( 23, 911, 809) ( 2, 686, 523)
322, 790
8, 415
18, 561, 650
4, 110, 582) ( 23, 911, 809) ( 2, 686, 523) 18, 561, 650 747, 020)
62, 045,17
62, 045,17
510, 02
630,95
630,95
18, 553, 138 10, 343, 172
48, 516, 159
48, 516, 159
21, 831, 610
21, 831, 610
61, 297, 997 $ 1,40, 697 $ 67, 069, 297 $ 32, 174, 782
See accompanying Notes to Basic Financial Statements.
36 160
Capital Project
Funds
General CIP
Projects Park in Lieu
Nonmajor Total
Governmental Governmental
Funds Funds
860, 657 170, 985
14, 370, 684 $ 65, 068, 458
27, 580 301, 403
7, 963, 841 12, 961, 759
10, 790, 044 11, 431, 330
4, 059, 243 12, 945, 089
1, 613, 589 1, 748, 947
444, 007 24, 353, 636
262,05 1, 090, 746
860, 657 170, 985 39, 531, 193 129, 901, 368
7, 195)
9, 144,43 2, 739,60
13, 680, 470
4, 352, 688 19, 719, 387
429 1, 076, 468
183, 901 2, 073, 341
14, 288, 811 17, 361, 431
218, 024 24, 570, 280
159, 854
330, 00
591,63
209, 452
9, 136, 948 2, 739,60 19, 203, 707 79, 612, 392
8, 276,91) ( 2, 568, 775) 20, 327, 486 50, 288, 976
6, 732, 447 6, 426, 899 40, 063, 910
20, 835, 448) ( 60, 218, 481)
322, 790
8, 415
6, 732, 447 14, 408, 549) ( 19, 823, 366)
1, 543, 844) ( 2, 568, 775) 5, 918,37 30, 465, 610
19, 648, 230 - 99, 119, 951 229, 329,57
3, 127, 221 ( 25, 589,26)
19, 648, 230 3, 127, 221 73, 530, 425 229, 329,57
18,04, 386 $ 558, 446 $ 79, 449, 362 $ 259, 74, 967
See accompanying Notes to Basic Financial Statements.
37 161
City of Lathrop
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Government -Wide Statement of Activities For the year ended June 30, 2025
Net Change in Fund Balances - Total Governmental Funds
Amounts reported for governmental activities in the Government - Wide Statement of Activities were different because:

Governmental funds reported capital outlay as expenditures. However, in the Government -Wide Statement of Activities, the cost of those assets was allocated over their estimated lives as depreciation expense. This was the amount of capital assets recorded in the current period.

Donated capital assets are not recorded in the governmental funds, but are recognized as revenue at the acquisition value of the assets.

Depreciation expense on capital assets was reported in the Government - Wide Statement of Activities, but did not require the use of current financial resources. Therefore, depreciation expense was not reported as expenditures in the governmental funds.

Compensated leave payments were reported as expenditures in the governmental funds, however expense is recognized in the Government - Wide Statement of Activities based on earned leave accruals.

Debt proceeds provide current financial resources to governmental funds, but issuing debt increased longterm liabilities in the Government - Wide Statement of Net Position. Repayment of debt was an expenditure in governmental funds, but the repayment reduced long- term liabilities in the Government -Wide Statement of Net Position.

Long- term debt repayments
Lease and subsciption payments
Acquisition of new leases and subscriptions
Current year employer pension contributions are recorded as expenditures in the governmental funds, however, these amounts are reported as a deferred outflow of resources in the Government - Wide Statement of Net Position.
30, 465, 610
23,23, 661
33, 627, 939
16, 224, 760)
1, 517, 011)
11, 466
330, 00
591,63
322, 790)
2, 319, 602
Pension expense is reported in the Government - Wide Statement of Activities does not require the use of current financial resources, and therefore is not reported as expenditures in governmental funds. ( 2, 384, 289) OPEB income ( expense) is reported in the Government - Wide Statement of Activities does not require the use of current financial resources, and therefore is not reported as expenditures in governmental funds.

Unavailable revenues recorded in the fund financial statements resulting from activities in which revenues were earned but were not available are reclassified as revenues in the Government -Wide Financial Statements. This is the change in unavailable revenues from the prior year.

Internal service funds were used by management to charge the costs of certain activities, such as insurance and fleet management, to individual funds. The net revenue of the internal service funds was reported with governmental activities.

Change in Net Position of Governmental Activities
265,07
568, 991)
331, 632
70, 148, 839
See accompanying Notes to Basic Financial Statements.
38 162
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39 163
City of Lathrop
Statement of Net Position
Proprietary Funds
June 30, 2025
ASSETS
Current Assets:

Cash and investments
Receivables:

Accounts ( net of allowance for uncollectibles)
Accrued interest
Restricted:

Cash and with fiscal agent
Total current assets
Noncurrent:

Capital assets:

Nondepreciable capital assets
Depreciable capital assets
Accumulated depreciation
Net capital assets
Total noncurrent assets
Total assets

DEFERRED OUTFLOWS OF RESOURCES
Deferred pension related items
Deferred OPEB related items
Business - Type Activities - Enterprise Funds
Governmental
Activities
Water
Compensated
Absences Internal
Sewer Totals Service Fund
46, 239, 941 $ 49, 185, 382
2, 870, 570 1, 550, 064
102, 940 94, 661
1, 486, 322
95, 425, 323 $
4,20, 634
197, 601
1, 486, 322
3, 702, 655
50, 699, 773 50, 830, 107 101, 529, 880 3, 702, 655
3, 744, 569
119, 806, 955
38, 700, 855)
35, 158, 099
197, 326,24
41, 104,50)
38, 902, 668
317, 133, 279
79, 805, 005)
84,50, 669 191, 380, 273 276,30, 942
84,50, 669 191, 380, 273 276,30, 942
135, 50, 442 242,10, 380 377, 760, 822 3, 702, 655
464, 764
163, 589
296, 777 761, 541
104, 355 267, 944
Total deferred outflows of resources 628, 353

LIABILTITES
Current liabilities:

Accounts payable
Accrued interest
Deposits payable
Accrued compensated absences
Loans payable
Total current liabilities
Noncurrent liabilities:

Advances from other funds
Accrued compensated absences
Net pension liability
Net OPEB liability
Loans payable
Total noncurrent liabilities
Total liabilities

DEFERRED INFLOWS OF RESOURCES
Deferred pension related items
Deferred OPEB related items 24, 179
401, 132 1, 029, 485
1, 433, 525
21, 562
1, 062, 495
70, 851
1, 716, 112
14, 937, 015
31, 288
30, 638
16, 370, 540
21, 562
1, 093, 783
101, 489
1, 716, 112
1, 680, 901
4, 304, 545 14, 998,41 19, 303, 486 1, 680, 901
38, 150
687,35
170, 037
10,56, 303
808, 16
16, 498
444, 590
108, 539
808, 16
54, 648
1,32, 225
278, 576
10,56, 303
2, 021, 754
11, 052, 125 1, 377, 813 12, 429, 938 2, 021, 754
15, 356, 670 16, 376, 754 31, 733, 424 3, 702, 655
6, 914 4,14 11, 328
15, 284 39, 463
Total deferred inflows of resources 31, 093

NET POSITION
Net investment in capital assets
Restricted for debt service
Unrestricted
Total net position
19, 698 50, 791
72, 978, 254
1, 486, 322
46, 326, 456
191, 380, 273
34, 834, 787
264, 358, 527
1, 486, 322
81, 161, 243
120, 791, 032 $ 226,15, 060 $ 347, 006,92 $
See accompanying Notes to Basic Financial Statements.
40 164
City of Lathrop
Statement of Revenues, Expenses and Changes in Net Position Proprietary Funds
For the year ended June 30, 2025
Governmental
Business - Type Activities - Enterprise Funds Activities OPERATING REVENUES:

Sales and service charges
Other income
Total operating revenues
OPERATING EXPENSES:

General and administrative
Maintenance and operations
Depreciation expense
Total operating expenses
Operating income ( loss)
NONOPERATING REVENUES ( EXPENSES):

Taxes and assessments
Investment earnings
Interest expense
Water
Compensated
Absences Internal
Sewer Totals Service Fund
12, 441,30 $ 12, 577, 405 $ 25, 018, 835 $ 822, 01
1,52, 381 349, 037 1, 501, 418
13, 593, 811 12, 926, 442 26, 520, 253 822, 01
1, 775, 181 1, 038,10 2, 813, 191
4, 889, 196 9, 785, 660 14, 674, 856
2, 498, 551 4, 014, 374 6, 512, 925
490, 389
9, 162, 928 14, 838, 044 24, 000, 972 490, 389
4,30, 883 ( 1, 911, 602) 2, 519, 281 331, 632
1, 285, 169
2,51,11
371,81)
894, 166
2, 018, 359
2, 179, 335
4, 269, 570
371,81)
Total nonoperating revenues ( expenses) 3, 164, 999 2, 912, 525 6, 077, 524 Income before contributions and transfers
CONTRIBUTIONS AND TRANSFERS:

Contributions
Transfers in
Transfers out
7, 595, 882 1, 000, 923 8, 596, 805 331, 632
3, 221, 707 8, 915, 262 12,36, 969
130,22 23, 622, 305 23, 752, 427
1, 709, 800) ( 1, 888, 056) ( 3, 597, 856)
Total contributions and transfers 1, 642, 029 30, 649, 511 32, 291, 540 Change in net position
NET POSITION:

Beginning of year
Restatements
Beginning of year, as restated
End of year
9, 237, 911 31, 650, 434 40, 888, 345 331, 632
111, 280, 762 194, 578,85 305, 89, 347
272, 359 ( 13, 959) 258, 400
111, 553, 121 194, 564, 626 306, 117, 747
331, 632)
331, 632)
120, 791, 032 $ 226,15, 060 $ 347, 006,92 $
See accompanying Notes to Basic Financial Statements.
41 165
City of Lathrop
Statement of Cash Flows
Proprietary Funds
For the year ended June 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers and users
Cash paid to suppliers for goods and services
Cash paid to employees for services
Cash received from (payments to) others
Net cash provided (used) by operating activities

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Cash transfers in
Cash transfers out
Repayment made to other funds
Net cash provided ( used) by
non - capital financing activities

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Acquisition and construction of capital assets
Taxes and assessments
Principal paid on capital debt
Interest paid on capital debt
Net cash provided (used) by
capital and related financing activities:

CASH FLOWS FROM INVESTING ACTIVITIES:

Interest received
Net cash provided ( used) by investing activities
Net increase ( decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Business -Type Activities
Governmental
Activities
Water
Compensated
Absences Internal
Sewer Totals Service Fund
11, 976, 774 $ 12, 439, 646 $ 24, 416,20 $
9, 468, 193) 4, 054, 309 ( 5, 413, 884)
1, 823,38) ( 1, 074, 854) ( 2, 898, 692)
1,52, 381 349, 037 1, 501, 418
1, 837, 124 15, 768, 138 17, 605, 262
822, 01
822, 021
130,22
1, 709, 800)
1, 579, 678)
23, 622, 305 23, 752, 427
1, 888, 056) ( 3, 597, 856)
532,60 ( 532,60)
21,01, 689 19, 622, 011
949,44) ( 30, 495, 990) ( 31, 445, 934) -
1, 285, 169 894, 166 2, 179, 335
1, 662,70) - ( 1, 662,70)
355, 590) 11, 455 ( 344, 135)
1, 683, 05) ( 29, 590, 369) ( 31, 273, 404)
2,51,11 2, 018, 359 4, 269, 570
2,51,11 2, 018, 359 4, 269, 570
825, 622 9, 397, 817 10, 223, 439 822, 01
46, 900, 641 39, 787, 565 86, 688, 206 2, 880, 634
47, 726, 263 $ 49, 185, 382 $ 96,11, 645 $ 3, 702, 655

RECONCILIATION OF OPERATING INCOME ( LOSS) TO NET
CASH PROVIDED ( USED) BY OPERATING ACTIVITIES:

Operating income (loss) $ 4,30, 883 $ ( 1, 911, 602) $ 2, 519, 281 $ Adjustments to reconcile operating income ( loss) to
net cash provided by ( used in) operating activities:

Depreciation 2, 498, 551 4, 014, 374 6, 512, 925
Increase) decrease in accounts receivable ( 533, 866) ( 96, 415) ( 630, 281) Increase ( decrease) in accounts payable ( 4, 578, 997) 13, 839, 969 9, 260, 972 Increase (decrease) in accrued liabilities - ( 41, 344) ( 41, 344) Increase ( decrease) in deposits payable 69, 210 - 69, 210 Increase ( decrease) in compensated absences 216 ( 2, 822) ( 2, 606) Increase (decrease) in pension and OPEB ( 48, 873) ( 34, 022) 82,95) Total Adjustments ( 2, 593, 759) 17, 679, 740 15, 085, 981 331, 632
490, 389
490, 389
Net cash provided ( Used) by operating activities $ 1, 837, 124 $ 15, 768, 138 $ 17, 605, 262 $ Non -Cash Investing, Capital, and Financing Activities:

Donated assets $ 3, 221, 707 $ 8, 915, 262 12,36, 969 $ 822, 01
See accompanying Notes to Basic Financial Statements.
42 166
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43 167
City of Lathrop
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2025
Custodial
Funds
ASSETS
Cash and investments
Receivables:

Accrued interest
Restricted assets:

Cash and with fiscal agent
6, 584,59
12, 697
4, 716, 896
Total assets 11, 314, 152
Accounts payable
Deposits payable
Total liabilities

LIABILITIES

NET POSITION
358, 923
30, 747
389, 670
Restricted for:

Individuals, organizations, and other governments 10, 924, 482 Total Net Position 10, 924, 482
See accompanying Notes to Basic Financial Statements.
44 168
City of Lathrop
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the year ended June 30, 2025
Custodial
Funds
ADDITIONS:

Collections for assessment districts
Investment earnings
7, 570,29
417, 906
Total additions 7, 988, 435
DEDUCTIONS:

Administrative expenses 220, 632
Debt service 7, 033,65
Total deductions
Change in net position
NET POSITION:

Beginning of year
End of year
7, 253, 697
734,38
10,89, 744
10, 924, 482
See accompanying Notes to Basic Financial Statements.
45 169
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46 170

NOTES TO BASIC

FINANCIAL STATEMENTS
171
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48 172
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
The City of Lathrop, California, (the City) was incorporated July 1, 1989, under the general laws of the State of California. The City operates under a Council -Manager form of government and provides the following services: general government, public safety, public ways and facilities/ transportation, culture and leisure, and public utilities.

The financial statements of the primary government of the City of Lathrop include the activities of the City as well as the Lathrop Public Facilities Financing Corporation, which is controlled by and dependent on the City. While it is a
separate legal entity, its financial activities are integral to those of the City. Its financial activities have been aggregated and merged ( termed " blending") with those of the primary government of the City in the accompanying financial statements.

On April 11, 2000, the City Council formed the Lathrop Public Facilities Financing Corporation Corporation), a non- profit public benefit corporation. The Corporation was formed to assist the City in financing the acquisition, construction, and improvement of municipal facilities. The Corporation is also empowered to acquire property. The Corporation is governed by a Board of Directors consisting of the City Council members.

B. Basis of Presentation
The City' s
Basic Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America. The Government Accounting Standards Board is the acknowledged standard setting body for establishing accounting and financial reporting standards followed by governmental entities in the U. S. A.

These Standards require that the financial statements described below be presented.

Government -wide Statements: The Statement of Net Position and the Statement of Activities display information about the primary government (the City and its component unit). These statements include the financial activities of the overall City government, except for fiduciary activities. Eliminations have been made to minimize the double counting of internal activities. However, the interfund services provided and used are not eliminated in the process of consolidation. These statements distinguish between the governmental and business -type activities of the City. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange transactions. Business -type activities are financed in whole or in part by fees charged to external parties. 49 173
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Presentation, Continued
The Statement of Activities presents a
comparison between direct expenses and program revenues for each segment of the business - type activities of the City and for each function of the City' s governmental activities. Direct expenses are those that are specifically associated with a program or function and,
therefore, are clearly identifiable to a particular function. Program revenues include ( a) charges paid by the recipients of goods or services offered by the programs, (b) grants and contributions that are restricted to meeting the operational needs of a particular program and (c) fees, grants and contributions that are restricted to financing the acquisition or construction of capital assets. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues.

Fund Financial Statements - The fund financial statements provide information about the City' sfunds, including fiduciary funds and blended component units. Separate statements for each fund category - governmental, proprietary, and fiduciary - are presented. The emphasis of fund financial statements is on major individual governmental and enterprise funds, each of which is displayed in a separate column.

All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds.

Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment earnings, result from nonexchange transactions or ancillary activities.

C. Major Funds
Major funds are defined as funds that have either assets, liabilities, revenues or expenditures/ expenses equal to ten percent of their fund -type total and five percent of the grand total. Major governmental and business - type funds are identified and presented separately in the fund financial statements. All other funds, called non -major funds, are combined and reported in a single column, regardless of their fund -
type. The General Fund is always a major fund. The City may also select other funds it believes should be presented as major funds.

The City reported the following major governmental funds in the accompanying financial statements:

General Fund
This fund accounts for all financial resources except those accounted for in another fund. It is the general operating fund of the City.

Developer Projects
This fund accounts for revenues received and expenditures spent associated with various developer projects.
50 174
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued C. Major Funds, Continued
Capital Facility Fees Special Revenue Fund
To account for the financial resources associated with the capital facility fees for Traffic Mitigation includes Regional Traffic), Storm Drain, Culture and Leisure, City Service, and Administration.

Streets and Roads Capital Projects Fund
This fund accounts for capital project expenditures related to streets and roads occurring over more than one fiscal year.

General CIP Projects Fund
To account for capital project expenditures related to streets and roads occurring over more than one fiscal year.

Park in Lieu Capital Projects Fund
The Park in Lieu Capital Projects Fund accounts for revenues and expenditures which can legally be made under the Quimby Act. The revenue is collected from residential developers to offset the impact on parks and can only be used for new park development.

The City reported both of its enterprise funds as major funds in the accompanying financial statements:

Water Fund
This fund accounts for the revenues and expenses of the City' s water operations.

Sewer Fund
This fund accounts for the revenues and expenses of the City' s sewer operations.

The City also reports the following fund types:

Internal Service Fund
The fund accounts for compensated absences activities, which are provided to other departments on a cost -reimbursement basis.

Fiduciary Funds
Custodial funds are used to account for assets held by the City as a custodian for certain special assessment districts. The financial activities of these funds are excluded from the entity -wide financial statement but are presented in separate Fiduciary Fund financial statements. 51 175
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued D. Basis ofAccounting
The government - wide, proprietary, and fiduciary fund financial statements are reported using the economic resources measurement focus and the full accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place.

Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available.

The City considers all revenues reported in the governmental funds to be available if the revenues are collected within sixty days after year- end. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on long- term debt, claims and judgments, and compensated absences, which are recognized as expenditures to the extent they have matured. Governmental capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of governmental long- term debt and acquisitions under leases, software subscriptions, and financed purchases are reported as otherfinancing sources.

Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a
proprietary fund' s
principal ongoing operations. The principal operating revenues of the water fund, sewer fund, and internal service funds are charges to customers for sales and services.

Operating expenses for enterprise funds and internal service funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.

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

The City may fund programs with a combination of cost -reimbursement grants, categorical block grants, and general revenues. Thus, both restricted and unrestricted Net Position may be available to finance program expenditures. The City' s policy is to first apply restricted grant resources to such programs, followed by general revenues if necessary.

Certain indirect costs are included in program expenses reported for individual functions and activities.

Those revenues susceptible to accrual are use of money and property revenue, charges for services and fines and penalties. Sales taxes collected and held by the State at year- endon behalf of the City also are recognized as revenue.
52 176
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued E. Property Tax
The City' s property taxes are levied each July 1, on the assessed values as of the prior January 1 for all real and personal property located in the City. Property sold after the assessment date ( January 1) is reassessed and the amount of property tax levied is prorated.

The City has elected to receive property taxes from the County of San Joaquin ( County) under the Teeter Plan. Under this program, the City receives 100% of the levied property taxes in periodic payments with the County assuming responsibility for delinquencies. Secured property taxes are due in two equal installments; the first is due November 1 and delinquent with penalties after December 10; the second is due February 1 and delinquent with penalties after April 10. Unsecured personal property taxes do not constitute a lien against real property unless the taxes become delinquent. Payment must be made in one installment, which is delinquent if not paid by August 31. The City accrues only taxes which are received from the County within 60 days after fiscal year end.

F. Use ofEstimates
The preparation of the financial statements in conformity with generally accepted accounting principles GAAP) 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 expenses during the reporting period. Actual results could differ from those estimates.

G. Cash and Cash Equivalents
The City' scash and cash equivalents are considered to be cash on hand, demand investments deposits, and short- tem
with original maturities of three months or less from the date of acquisition.

H. Accounts Receivable
In the government -wide statements, receivables consist of all revenues earned at year- end and not yet received. Receivables are recorded in the financial statements net of any allowance for doubtful accounts if applicable, and estimated refunds due. Major receivable balances for the governmental activities include sales and use taxes, franchise taxes, grants, police fines and other fees. Federal and state grants are considered receivable and accrue as revenue when reimbursable costs are incurred. Business - type activities report utilities and interest earnings as their major receivables.

In the fund financial statements, material receivables in governmental funds include revenue accruals such as sales tax, franchise tax, and grants and other similar intergovernmental revenues since they are usually both measurable and available.
53 177
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued L Prepaid Expenses
Prepaid items are also recognized under the consumption method. Payments to vendors that reflect costs applicable to future accounting periods are recorded as prepaid items in both government - wide and fund financial statements.

J. Capital Assets
The accounting treatment over property, plant and equipment depends on whether the assets are used in governmental fund operations or proprietary fund operations and whether they are reported in the government -wide or fund financial statements.

Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are reported at the estimated acquisition value on the date contributed. All other capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available. The City' s policy is to capitalize all capital assets with costs exceeding certain minimum thresholds.

The City has recorded all its public domain (infrastructure) capital assets placed in service, which include roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems.

The purpose of depreciation is to spread the cost of capital assets equitably among all users over the life of these assets. The amount charged to depreciation expense each year represents that year' s pro rata share of the cost of capital assets. Generally accepted accounting principles require that all capital assets with limited useful lives be depreciated over their estimated useful lives. Depreciation is provided using the straight line method which means the cost of the capital asset is divided by its expected useful life in years and the result is charged to expense each year until the capital asset is fully depreciated. The City has assigned the useful lives listed below to capital assets.

Buildings 10 - 30 years
Improvements 5 - 50 years
Equipment and Vehicles 5 - 30 years
Infrastructure 5 - 40 years
Leases and Subsciptions Lease/ Subscription Term
54 178
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued J. Capital Assets, Continued
The City capitalizes all capital assets with a useful life of more than one year. Prior to July 1, 2019, the City capitalized all capital assets with a cost greater than $3, 000. Subsequent to that date, the City capitalizes all land purchases and all other capital assets as follows:

Land
Land Improvements
Buildings and Building Improvements
Infrastructure
Equipment, Furniture and Vehicles
Leases and Subscriptions ( GASBS 87 and 96)
Leasehold Improvements
Construction in Progress for Year End Reporting
50, 000
50, 000
50, 000
10, 000
100, 00
50, 000
50, 000 will exceed amount at completion
K. Compensated Absences
City employees accumulate earned, but unused, compensatory, management, vacation, and sick leaves which will be used in the next 12 months ( sick leave), converted to vacation leave ( management leave), or paid out upon termination of employment ( compensatory, and vacation leaves). Accrual amounts are determined on a first -in first -out basis. For governmental funds, a liability for these amounts is recorded
only if they have matured, for example, as a result of employee resignations and retirements. The remaining amounts are reported as a
liability in the Statement of Net Position. Proprietary funds' liability for compensated absences is recorded in each proprietary fund. The liability for compensated absences is determined annually.

L. Long Term Liabilities
In the government -wide financial statements and the proprietary fund types in the fund financial statements, long- term liabilities, and other long- term obligations are reported as liabilities in the applicable governmental activities, business - type activities, or proprietary fund type statement of net position.

In the fund financial statements, the face amount of debt issued is reported as other financing sources.

Premiums received are reported as other financing sources, while discounts are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.
55 179
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued M. Net Pension Liability
For purposes of measuring the net pension liability, deferred outflows and inflows of resources related to pensions, and pension expense, information about the fiduciary net position and additions to/ deductions from the fiduciary net position have been determined on the same basis as they are reported by the CaIPERS Financial Office. For this purpose, benefit payments ( including refunds of employee contributions) are recognized when currently due and payable in accordance with the benefit terms.

Investments are reported at fair value. The liability is typically liquidated by the General Fund. Ca1PERS audited financial statements are publicly available reports that can be obtained from Ca1PERS' website under Forms and Publications.

N. Other Post -Employment 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 have been determined by an independent actuary. For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. The liability is typically liquidated by the General Fund.

Generally accepted accounting principles require that the reported results must pertain to liability information within certain defined timeframes. For this report, the following timeframes are used:

Valuation Date
Measurement Date
Measurement Period
June 30, 2023
June 30, 2024
June 30, 2023 to June 30, 2024
O. Deferred Outflows/ Inflows of Resources
In addition to assets, the statement of net position reports a separate section for deferred outflows of
resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets that applies to a future period( s) and so will not be recognized as an outflow of resources ( expense/ expenditure) until then.

In addition to liabilities, the statement of net position reports 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.
56 180
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued P. Interfund Transactions
Interfund transactions are reflected as either loans, services provided, reimbursements, or transfers. Loans are reported as receivables and payables as appropriate, are subject to elimination upon consolidation and 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 noncurrent portion of interfund loans). Any residual balances outstanding between the governmental activities and the business -type activities are reported in the government -wide financial statements as " internal balances". Advances between funds, as reported in the fund financial statements, are offset by a fund balance reserve account in applicable governmental funds to indicate that they are not available for appropriation and are not available financial resources.

Services provided, deemed to be at market or near market rates, are treated as revenues and expenditures/ expenses. Reimbursements are when one fund incurs a cost, charges the appropriate benefiting fund, and reduces its related cost as a reimbursement. All other interfund transactions are treated as transfers. Transfers between governmental or proprietary funds are netted as part of the reconciliation to the government -wide presentation.

Q. Net Position and Fund Balance
Net Position
Net position is the excess of all the City' s
assets all deferred outflows over all its liabilities and deferred inflows, regardless of fund. Net position is divided into three captions on the Statement of Net Position.

These captions apply only to net position, which is determined only at the Government - wide level, and business -type activities and are described below:

Net Investment in Capital Assets describes the portion of Net Position which is represented by the current net book value of the City' scapital assets, less the outstanding balance of any debt issued to finance these assets and related deferred inflow of resources.

Restricted describes the portion of Net Position which is restricted as to use by the terms and conditions of agreements with outside parties, governmental regulations, laws, or other restrictions which the City cannot unilaterally alter.

Unrestricted describes the portion of Net Position which is not restricted to use.

Fund Balance
Governmental fund balances represent the net current assets of each fund. Net current assets generally represent a fund' scash and receivables, less its liabilities. 57 181
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued Q. Net Position and Fund Balance, Continued
Fund Balance, Continued
The City' sfund balances are classified based on spending constraints imposed on the use of resources.

For programs with multiple funding sources, the City prioritizes and expends funds in the following order: Restricted, Committed, Assigned, and Unassigned. Each category in the following hierarchy is ranked according to the degree of spending constraint:

Nonspendables represents balances set aside to indicate items do not represent available, spendable resources even though they are a
component of assets. Fund balances required to be maintained intact, such as Permanent Funds, and assets not expected to be converted to cash, such as prepaids, notes receivable, and land held for redevelopment are included. However, if proceeds realized from the sale or collection of nonspendable assets are restricted, committed or assigned, then nonspendable amounts are required to be presented as a component of the applicable category.

Restricted fund balances have external restrictions imposed by creditors, grantors, contributors, laws, regulations, or enabling legislation which requires the resources to be used only for a specific purpose.

Nonspendable amounts subject to restrictions are included along with spendable resources.

Committed fund balances include amounts that can be used only for the specific purposes determined by a formal action of the City Council' s
highest level of decision -making authority. The City Council can, by adoption of a resolution prior to the end of the fiscal year, commit fund balance. Once adopted, the limitation imposed by the resolution remains in place until a similar action is taken ( the adoption of another resolution) to remove or revise the limitation.

Assigned fund balances are amounts constrained by the City' s intent to be used for a specific purpose but
are neither restricted nor committed. The Authority for assigning fund balance is expressed by the City Council or its designee ( i.e., City Manager), as established in the City' s Reserve Policy. This category
includes nonspendables, when it is the City' s
intent to use proceeds or collections for a specific purpose, and residual fund balances, if any, of Special Revenue, Capital Projects and Debt Service Funds which have not been restricted or committed.

Unassigned fund balance represents residual amounts that have not been restricted, committed, or assigned. This includes the residual general fund balance and residual fund deficits, if any, of other governmental funds.

Further detail about the City' s
fund balance classification is described in Note 9.
58 182
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued R. New Accounting Pronouncements
GASB Statement No. 101, Compensated Absences — The objective of this Statement is to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences. That objective is achieved by aligning the recognition and measurement guidance under a unified model and by amending certain previously required disclosures. The City restated its beginning compensated absence balances and updated its current year accounting and disclosures as part of the implementation of this Statement.

GASB Statement No. 102, Certain Risk Disclosures - The objective of this Statement is to provide users of government
vulnerabilities
financial
due to
statements
certain concentrations
with essential
or
information
constraints. No
about
new
risks
disclosures
related to
resulted
a government' s
from the
implementation of this Statement.

2. CASH AND INVESTMENTS
A. Policies
The City invests in individual investments and in investment pools. Individual investments are evidenced by specific identifiable pieces of paper called securities instruments, or by an electronic entry registering the owner in the records of the institution issuing the security, called the book entry system.

California Law requires banks and savings and loan institutions to pledge government securities with a fair value of 110% of the City' s
cash on deposit or first trust deed mortgage notes with a value of 150% of the City' scash on deposit as collateral for these deposits. Under California Law this collateral is held in an investment pool by an independent financial institution in the City' s name and places the City ahead
of general creditors of the institution pledging the collateral. As of June 30, 2025, $69,44 of the cash with financial institutions was collateralized.

The City' s
investments are carried at fair value, as required by generally accepted accounting principles.

The City adjusts the carrying value of its investments to reflect their fair value at each fiscal year end, and it includes the effects of these adjustments in income for that fiscal year.

Investment income is allocated among funds on the basis of average monthly cash and investment balances in these funds. Interest income on certain investments is allocated based on the source of the investment and legal requirements which apply.

Cash and investments with an original maturity of three months or less are used in preparing proprietary fund statements of cash flows because these assets are highly liquid and are expended to liquidate liabilities arising during the year.
59 183
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

2. CASH AND INVESTMENTS, Continued
B. Classification
Cash and investments are classified in the financial statements as shown below, based on whether or not their use is restricted under the terms of City debt instruments. Cash and investments as of June 30, 2025, are as follows:

City cash and investments in primary government:

Cash and investments
Cash and investments, restricted, with fiscal agents
Total primary government cash and investments
Cash and investments in Fiduciary Funds ( separate statement):

Cash and investments
Cash and investments, restricted, with fiscal agents
Total Fiduciary Funds cash and investments
368, 022, 827
1, 486, 322
369, 509, 149
6, 584,59
4, 716, 896
11, 301, 455
Total cash and investments $ 380, 810, 604
Cash and Investments as of June 30, 2025, consist of the following:

Cash on hand $ 3, 260
Cash with financial institutions 68, 890, 593
Investments 311, 96, 751
Total Cash and Investments $ 380, 810, 604
C. Investments Authorized by the California Government Code and the City' s Investment Policy
The City' s
Investment Policy and the California Government Code allow the City to invest in the following, provided the credit ratings of the issuers are acceptable to the City and approved percentages and maturities are not exceeded. The table below also identifies certain provisions of the California Government Code or the City' s
Investment Policy where it is more restrictive that addresses interest rate risk, credit risk and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustees that are governed by the provisions of debt agreements of the City, rather than the general provisions of the California Government Code or the City' s investment policy.
60 184
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

2. CASH AND INVESTMENTS, Continued
C. Investments Authorized by the California Government Code and the City' s Investment Policy,
Continued
The City' sinvestment policy states that all investments and deposits shall be made in accordance with the California Government Code Sections 16429., 53600-3609 and 53630-3686, except for the reserve funds from proceeds of debt issues may be invested in permitted investments specified in the indenture of the debt issue. The City has further restricted authorized investments to the following:

Maximum Maximum
Percentage/ Investment Minimum
Maximum Amount of in One Credit
Authorized Investment Type Maturity Portfolio Issuer Ratings Local Government Bonds 5 years 30% None A
State Bonds 5 years 30% None A
US Treasury Obligations 5 years None None N/ A
US Government Agency Issues 5 years None None N/ A
Banker' sAcceptance 180 days 40% 30% A
Commercial Paper, Prime Quality 270 days 25% 10% A
Negotiable Certificates of Deposit 5 years 30% None N/ A Repurchase and Reverse Repurchase Agreements 30 days None None A Medium - Term Notes 5 years 30% 10% AAA
Money Market Funds N/ A 20% None AAAm
Mutual Funds 5 years 20% 10% AAAm
Local Agency Investment Fund (" LAIF") N/ A None None N/ A Joint Power Authority Pool N/ A None None N/ A
Supranational Obligations 5 years 30% None AA
61 185
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

2. CASH AND INVESTMENTS, Continued
D. Investments Authorized by Debt Agreements
The City must maintain required amounts of cash and investments with trustees or fiscal agents under the terms of certain debt issues. These funds are unexpended bond proceeds or are pledged reserves to be used if the City fails to meet its obligations under these debt issues. The California Government Code requires these funds to be invested in accordance with City resolutions, bond indentures or State statutes.

The table below identifies the investment types that are authorized for investments held by fiscal agents.

The bond indentures contain no limitations for the maximum investment in any one issuer or the maximum percentage of the portfolio that may be invested in any one investment type. The table also identifies certain provisions of these debt agreements:

Maximum Maximum
Percentage/ Investment
Maximum Amount of in One
Authorized Investment Type Maturity Portfolio Issuer
US Treasury Obligations None None None
US Agency Securities None None None
Mortgage - caked Securities 3 years None None
Banker' sAcceptance ( must be dollar denominated) 360 days None None Certificates of Deposit None None None
Commercial Paper 180 days None None
Money Market Funds N/ A None None
Local Government Bonds None None None
County Pool N/ A None None
Local Agency Investment Fund (" LAIF") N/ A None None
E. 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 interest rate 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 evenly over time as necessary to provide the cash flow and liquidity needed for operations. 62 186
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

2. CASH AND INVESTMENTS, Continued
E. Interest Rate Risk, Continued
Information about the sensitivity of the fair values of the City' s investments ( including investments held
by bond trustees) to market interest rate fluctuations is provided by the following table that shows the distribution of the City' s
investments by maturity or earliest call date:

Maturities
Investment Type
U. S. Treasury Obligations
U. S. Government Agencies Issues
Supranational Obligations
Local Agency Investment Fund
California Asset Management Program
Money Market Mutual Funds
Total Investments
Cash in Banks and On Hand
Total City Cash and Investments
12 Months or
Less 13 to 24 Months 25 to 60 Months Total
75, 089, 873
95, 830, 946
10, 008, 588
180, 929, 407
3,60, 498 $ 111, 467, 694
2, 984,56 8, 415, 022
1, 757, 842 3, 001, 332
8, 103, 296 $ 122, 884, 048
114, 828, 192
11, 399, 978
4, 759, 174
75, 089, 873
95, 830, 946
10, 008, 588
311, 96, 751
68, 893,53
380, 810, 604
The City is a participant in the Local Agency Investment Fund ( LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The City reports its investment in LAIF at the fair value amount provided by LAIF. For the year ended June 30, 2025, the fair value factor for the City' s
investments in LAIF was 1. 00119831. The balance is available for withdrawal on demand and is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis. Each regular LAIF account is permitted to have up to 15 transactions per month, with a minimum transaction amount of $5, 000, a maximum transaction amount of $75 million and at least 24 hours advance notice for withdrawals of $10 million or more.

Included in LAIF' s investment portfolio are collateralized mortgage obligations, mortgage -backed securities, other asset - backed securities, loans to certain state funds, United States Treasury Notes and Bills and floating rate securities issued by federal agencies, government - sponsored enterprises, and corporations. At June 30, 2025, LAIF had 3. 81% of its portfolio invested in structured notes and asset - backed securities as compared to 3. 00% in the prior year.

At June 30, 2025, the City' s
investment position in the California Asset Management Program ( CAMP) was $ 95, 830, 946. The CAMP Pool is a short- tem cash reserve portfolio and cash management vehicle.

The Pool is managed to maintain a dollar -weighted average portfolio maturity of 60 days or less and seeks to maintain a constant net asset value (NAV) per share of $1. 00. CAMP is rated AAAm by Standard & Poor' s. At June 30, 2025, the total net asset value per share was $ 1. 00 and the 7 -day yield was 4.3%. 63 187
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

2. CASH AND INVESTMENTS, Continued
E. Interest Rate Risk, Continued
Bond proceeds accounts are subject to a one- time deposit with no cap and are set up with a monthly draw down schedule.

F. Fair Value Hierarchy
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 fair value of the assets. Level 1 inputs are quoted prices in an active market for identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant unobservable inputs.

The following is a
summary of the fair value hierarchy of the fair value of investments of the City as of June 30, 2025:

Investments by Fair Value Level: Level 1
U. S. Treasury Obligations
U. S. Government Agencies Issues
Supranational Obligations
Level 2 Total
114, 828, 192 $ 114, 828, 192
11, 399, 978 11, 399, 978
4, 759, 174 4, 759, 174
Total Investments by Fair Value Level $ 130, 987, 344 130, 987, 344 Investments Measured at Amortized Cost:

Local Agency Investment Fund
California Asset Management Program
Money Market Mutual Funds
Cash in Banks and On Hand
75, 089, 873
95, 830, 946
10, 008, 588
68, 893,53
Total Cash and Investments $ 380, 810, 604
For investments classified within Level 2 of the fair value hierarchy, the City' s custodians generally use a
multi -dimensional relational model. Inputs to their pricing models are based on observable market inputs in active markets. The inputs to the pricing models are typically benchmark yields, reported trades, broker dealer quotes, issuer spreads and benchmark securities, among others. Fair value is defined as the quoted market value on the last trading day of the period. These prices are obtained from various pricing sources by the custodian bank.

G. 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. The actual ratings as of June 30, 2025, as provided by Standard and Poor' s, are as follows:
64 188
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

2. CASH AND INVESTMENTS, Continued
G. Credit Risk, Continued
Investment Type AAAm AA1 AAA Total
Supranational Obligations $ - $ $ 4, 759, 174 $ 4, 759, 174 U. S. Government Agencies Issues - 11, 399, 978 11, 399, 978 US Treasury Obligations - 114, 828, 192 114, 828, 192
California Asset Management Program 95, 830, 946 - 95, 830, 946 Money Market Mutual Funds 10, 008, 588 - 10, 008, 588
Totals
Not Rated:

Local Agency Investment Fund
105, 839, 534 $ 126, 228, 170 $ 4, 759, 174 236, 826,78 75, 089, 873
Total Investments $ 311, 96, 751
H. Concentration of Credit Risk
There were no investments in any one issuer, other than U. S. Treasury securities, money market mutual funds, and California Local Agency Investment Funds that represent 5% or more of total City- wide investments at June 30, 2025.

3. INTERFUND TRANSACTIONS
A. Long -Term Advances
As of June 30, 2025, the Sewer Enterprise Fund had a
remaining balance of $808, 16 owed to the General
Fund, which was used to cover capital construction and other related costs. The advances are repaid with future operating revenues over several years.

In the fiscal year ended June 30, 2023, the City loaned the Capital Facility Fees Fund $7, 498, 000 for the purpose of funding an animal shelter. The loan will be repaid through fee revenues. The remaining balance was $7, 498, 000 as of June 30, 2025.
65 189
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

3. INTERFUND TRANSACTIONS, Continued
B. Transfers Between Funds
With Council approval, resources may be transferred from one City fund to another. Transfers between funds during the fiscal year ended June 30, 2025, were as follows:

Transfers In
Transfers Out
General Non -Major
General Streets Sr CIP Governmental
Fund Roads Projects Funds Water Sewer Total
Major Funds:

General Fund
Developer Projects
Capital Facilities Fees
Non -Major Governmental Funds
Major Enterprise Funds:

Water
Sewer
5, 405, 261 $ 2, 762, 542 $ 4, 616, 898 $ - $ - $ 12, 784,01 2, 180 272, 34 15, 000 - 23, 622, 305 23, 911, 809
479, 58 636, 925 1, 570, 000 - - 2, 686, 523
4,12, 216 12, 247, 140 2,35, 969 1, 810, 001 130,22 - 20, 835, 448 1, 645, 970
1, 802, 950
63, 830
85, 106
1, 709, 800
1, 888, 056
Total $ 8, 342, 914 $ 18, 561, 650 $ 6, 732, 447 $ 6, 426, 899 $ 130,22 $ 23, 622, 305 $ 63, 816, 337 The purpose of the General Fund transfers out were to fund various capital projects and, to a lesser extent, to subsidize special revenue funds' operations. Transfers from the Capital Facilities Fee Special Revenue Fund were to fund operations and contribute to capital projects. Transfers from the Water and Sewer Enterprise Funds to the General Fund were to help pay for overhead costs. Transfers from Non -Major Governmental Funds to the General Fund to pay for overhead costs and projects.

C. Internal Balances
Internal balances are presented in the entity -wide financial statements only. They represent the net interfund receivables and payables remaining after the elimination of all such balances within governmental and business -type activities.
66 190
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

4. CAPITAL ASSETS
A. Capital Asset Additions and Retirements
Capital assets activity for the year ended June 30, 2025, is as follows:

Governmental Activities
Balance Balance
July 1, 2024 Additions Retirements Transfers June 30, 2025 Capital assets not being depreciated:

Land $ 13, 472, 040 $ 2, 076, 956 $ (1, 479, 294) $ - $ 14, 069, 702 Construction in Progress 30, 951, 580 11, 579, 836 - ( 8, 492, 639) 34, 038, 777 Total capital assets not being depreciated 44,23, 620 13, 656, 792 ( 1, 479, 294) ( 8, 492, 639) 48, 108, 479 Capital assets being depreciated/ amortized:

Buildings 26, 525, 780 172 26, 525, 952
Improvements 109, 250, 188 4, 206, 971 - 3, 573, 867 117, 031,26 Equipment and Vehicles 8, 200, 519 3, 448, 231 ( 171, 091) 2, 418, 853 13, 896, 512 Infrastructure 303, 118, 343 35, 216, 644 - 2, 499, 919 340, 834, 906 Equipment and Vehicles Right -to -use Assets 1, 659,76 322, 790 - 1, 982, 466 Total capital assets being depreciated/ amortized 448, 754, 506 43, 194, 808 ( 171, 091) 8, 492, 639 500, 270, 862 Less accumulated depreciation/ amortization:

Buildings ( 5, 709,46) ( 652, 125) ( 6, 361, 871)
Improvements ( 37, 559, 166) ( 4, 715, 49) - ( 42, 274, 625) Equipment and Vehicles ( 4, 581, 643) ( 2, 725, 066) 133, 374 ( 7, 173, 335) Infrastructure ( 84, 785, 940) ( 7, 540,47) - - ( 92, 326, 487) Equipment and Vehicles - Right -to -use Assets ( 777, 455) ( 591, 563) - ( 1, 369, 018) Total accumulated depreciation/ amortization ( 133, 413, 950) ( 16, 224, 760) 133, 374 ( 149, 505, 336) Net capital assets being depreciated/ amortization 315,40, 556 26, 970, 048 ( 37, 717) 8, 492, 639 350, 765, 526 Governmental Activities Capital Assets, Net $ 359, 764, 176 $ 40, 626, 840 $ ( 1, 517, 011) $ - $ 398, 874, 005 67 191
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

4. CAPITAL ASSETS, Continued
A. Capital Asset Additions and Retirements, Continued
Balance Balance
Business -type Activities July 1, 2024 Additions Retirements Transfers June 30, 2025 Capital assets not being depreciated:

Land
Construction in Progress
Total capital assets not being depreciated
Capital assets being depreciated:

Buildings
Improvements
Equipment and Vehicles
Net capital assets being depreciated
Less accumulated depreciation:

Buildings
Improvements
Equipment and Vehicles
Total accumulated depreciation
Net capital assets being depreciated
3, 739, 227 $ - $ 3, 739, 227
3, 895, 075 31, 400, 963 - ( 132, 597) 35, 163, 441
7, 634, 302 31, 400, 963 ( 132, 597) 38, 902, 668
3, 072 -
302,95, 595 12, 280, 381 ( 303, 266)
2, 441,84 204, 825 ( 21, 409)
304, 80, 151 12, 485, 206 ( 324, 675) 132, 597 317, 133, 279 3, 072
132, 597 314, 505, 307
2, 624, 900
3, 072) - - ( 3, 072)
71, 966, 038) ( 6, 334, 615) 1, 650 ( 78, 299, 003)
1, 344,79) ( 178, 310) 19, 759 - ( 1, 502, 930)
73, 313, 489) ( 6, 512, 925) 21, 409 ( 79, 805, 005)
231, 526, 662 5, 972, 281 ( 303, 266) 132, 597 237, 328, 274 Business -type Activities Capital Assets, Net $ 239, 160, 964 $ 37,73, 244 $ ( 303, 266) $ - $ 276,30, 942 B. Capital Asset Contributions
Some capital assets may be acquired using federal and State grant funds, or they may be contributed by developers or other governments. These contributions are required to be accounted for as revenues at the time the capital assets are contributed.

C. Depreciation Allocation
Depreciation expense is charged to functions and programs based on their usage of the related assets.

The amounts allocated to each function or program are as follows:

Governmental Activities:

General government
Public safety
Public works
Culture and leisure
782, 279
3, 196, 039
11, 048, 689
1,97, 753
Total Governmental Activities $ 16, 224, 760
68 192
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

4. CAPITAL ASSETS, Continued
C. Depreciation Allocation, Continued
Business -Type Activities:

Water
Sewer

5. COMPENSATED ABSENCES
2, 498, 551
4, 014, 374
Total Business -Type Activities $ 6, 512, 925
The following is a
summary of changes in the City' scompensated absences for the fiscal year ended June 30, 2025:

Balance
June 30, 2024, Balance Due within
as restated Net Changes June 30, 2025 one year
Governmental activities $ 3, 676, 482 $ 478, 923 $ 4, 155, 405 $ 1, 975, 189 Business -type activities 158, 743 ( 2, 606) 156,37 101, 489 Total $ 3, 835, 225 $ 476, 317 $ 4, 311, 542 $ 2, 076, 678

6. LOANS PAYABLE & OTHER LONG- TERM DEBT
A. The City' sLoans Payable & Other Long -Term Debt
The City' slong- term debt activities for the year ended June 30, 2025, are as follows:

Balance Balance
Governmental Activities Long -Term Debt June 30, 2024 Additions Retirements June 30, 2025 Current Portion Financing Agreement Obligation
2016 Financing Agreement

2. 55%, due 07/ 15/ 2029
Leases and SBITAS ( See Note 8)
2, 110, 000 $ - $ ( 330, 00) $ 1, 780, 000 $ 340, 00
882, 21 322, 790 ( 591,63) 613, 448 358, 80
Total Governmental Activities $ 2, 992, 221 $ 322, 790 $ ( 921, 563) $ 2, 393, 448 $ 698, 80 69 193
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

6. LOANS PAYABLE & OTHER LONG- TERM DEBT, Continued
A. The City' s
Loans Payable & Other Long -Term Debt, Continued
Balance Balance
Business -type Activities Long -Term Debt June 30, 2024 Retirements June 30, 2025 Current Portion Capital Loan Obligation
2017 Bank Loan

2. 89%, due 06/1/ 2032 $ 6, 724, 497 $ ( 758, 602) $ 5, 965, 895 $ 780, 686 State Revolving Fund Loan

2. 3086%, due 07/1/ 2032 4, 588, 144 ( 488, 846) 4, 099, 298 505, 970 Compass Bank Loan

3. 50%, due 06/1/ 2029 2,77, 444 ( 415, 222) 1, 807, 222 429,56 Total Business -type Activities 13, 535, 085 $ ( 1, 662,70) $ 11, 872, 415 $ 1, 716, 112 B. Debt Service Requirements
Future principal and interest payments on all governmental and business -type long- term debt are as follows at June 30, 2025:

Business -Type Activities:

For the Year
Ending June 30
Governmental Activities:

For the Year
Ending June 30
Direct Borrowings
2016 Financing Agreement
Principal Interest
2026
2027
2028
2029
2030
340, 00
345, 000
360, 00
360, 00
375, 000
41, 055
32,21
23, 333
14,53
4, 781
Total $ 1, 780, 000 $ 115, 643
Direct Borrowings
2017 Bank Loan State Revolving Fund Loan Compass Bank Loan Principal Interest Principal Interest Principal Interest 2026
2027
2028
2029
2030
2031-033
780, 686
803, 412
826,00
850,69
875, 638
1, 828, 490
166, 774
144, 08
120, 660
96, 592
71, 823
66, 433
505, 970
517, 719
529, 740
542, 040
554, 626
1, 449, 203
97, 376
85, 762
73, 878
55,33
24, 344
68, 975
429,56
444, 618
460, 316
472, 832
59,44
44, 382
28, 684
12, 432
Total $ 5, 965, 895 $ 666, 330 $ 4, 099, 298 $ 405, 868 $ 1, 807, 222 $ 145, 042 70 194
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

6. LOANS PAYABLE & OTHER LONG- TERM DEBT, Continued
C. Description of the City' s
Loans Payable & Other Long -Term Debt Issues
City Hall Loan - On June 1, 2016, the City entered into a financed purchase with the Lathrop Financing Authority ( Authority) for the existing City Hall building, in the amount of $4, 190, 000 with a 2. 55% annual interest rate. On the same date, the Authority assigned its rights under the purchase agreement to Capital One Public Funding, LLC. The proceeds of the financed purchase obligation, together with available funds from the City, were used to advance refund the outstanding 2004 Obligation amounting to 6,40, 000. A total of $6, 787, 680 was deposited into an irrevocable trust with an escrow agent to provide funds for the future debt service payment on the refunded 2004 Obligation. As a result, the 2004 Obligation was considered defeased and the liability for the 2004 Obligation has been removed from the Statement of Net Position as of June 30, 2016. On July 15, 2016, the 2004 Obligation was prepaid fully. This advance refunding reduced the City' stotal debt service payments over 15 years by $ 2, 901, 765 and obtained an economic gain (difference between the present values of the debt service payments on the old and new debt) of $950, 783. Due to the timing of debt service payments on July 15th of each year, the City prepays the principal and interest.

The 2016 City Hall Financing Obligation is secured by the City Hall building at 390 Towne Centre Drive, Lathrop, California. The outstanding amount contains a provision that in an event of default, Lathrop Financing Authority may terminate the agreement, rent out all or any portion of the property, or hold the City liable for the payment of all base rental obligations and be reimbursed for any deficiency arising out of re -renting the property.
2017 Bank Loan - On May 18, 2017, the City entered into a loan agreement with Opus Bank, in the amount of $11, 455, 000 with a 2. 89% annual interest rate. The purpose of the loan proceeds was to refinance the 2003 Revenue Bonds. A total of $11, 328, 241 was deposited into an irrevocable trust with an escrow agent to provide funds for the future debt service payment on the refunded 2003 Bonds. As a result, the 2003 Bonds were considered defeased and the liability for the 2003 Bonds had been removed from the Statement of Net Position as of June 30, 2017. On June 1, 2017, the 2003 Bonds were repaid fully. This refunding reduced the City' s
total debt service payments over 15 years by $6, 829, 468 and obtained an economic gain ( difference between the present values of the debt service payments on the old and new debt) of $ 3, 857, 309. The interest and principal payments are due June 1 and December 1.

State Revolving Fund Loan - The City entered into an agreement with the California Department of Public Health in the amount of $10, 929, 000. Funds are for the Water Supply Arsenic Reduction Project.

Repayment of this loan started on January 1, 2013. Terms of the note include a twenty- year repayment
period and a 2.3% interest rate. Principal and interest payments are paid semiannually. The City' s net
water system revenues have been pledged for the repayment of debt service on loan.

The State Revolving Fund Loan is secured by a promissory note. The outstanding loan amount contains a provision that in an event of default, the State can declare the City' s obligation immediately due and payable.
71 195
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

6. LOANS PAYABLE & OTHER LONG- TERM DEBT, Continued
C. Description of the City' s
Loans Payable & Other Long -Term Debt Issues, Continued Compass Bank Loan - During fiscal year 2011- 12, the City entered into a loan agreement with Compass Bank in the amount of $6, 203, 000. The proceeds from the loan were used to refund the 2000A Certificates of Participation ( 2000A COPs). Interest on the Compass Loan is payable semi- annually on December 1 and June 1 of each year through the year 2029. Repayment of this loan started on December 1, 2012.

The 2017 Bank Loan and Compass Bank Loan are secured by a pledge of and lien on the net revenues of the Water System. The outstanding loan amount contains a provision that in an event of default, the loans will bear interest at the default rate, a rate of interest equal to the interest rate plus 3 percent and 5 percent, respectively, or the outstanding loan amount may become immediately due and payable.

For the fiscal year June 30, 2025, net revenues of the Water Enterprise Fund amounted to $ 5, 468, 712 which represented coverage of 3. 54 times the $ 1, 545, 205 debt service on the 2017 Bank Loan and Compass Bank Loan.

7. SPECIAL ASSESSMENT/ COMMUNITY FACILITY DISTRICT DEBT WITHOUT CITY

COMMITMENT
Special Assessment Districts in various parts of the City have issued debt to finance infrastructure improvements and facilities within their boundaries. The City is the collecting and paying agent for the debt issued by these Districts but has no direct or contingent liability or moral obligation for the payment of this debt. Therefore, this debt is not included as long- term debt of the City. The outstanding balance of each of these issues as of June 30, 2025 is as follows:

Mossdale Assessment District Refunding 2015
Mossdale Village Refundings 2023 Series A
Crossroad Assessment District Series 2015
Joint Wastewater Project CFD 2003-
Lathrop Sanitary Sewer Assessment District No. 1
Community Facilities District No. 2018- 1
4, 005,00
8, 680, 000
9, 250, 000
4, 180, 000
130, 00
45, 080,00
72 196
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

8. LEASES AND SUBSCRIPTION - BASED INFORMATION TECHNOLOGY ARRANGEMENTS The City records several leases payable for tangible assets, as well as on software subscriptions SBITAs).

Lease and SBITA agreements are summarized as follows:

Payment Annual Interest Balance
Description Date Terms Payment Rate June 30, 2025
Police cameras and tasers Various, starting November 2021 3- 5 years 123,52 0.0% $ 199, 354 Camera software Various, starting November 2021 3- 5 years 125, 728 0.0% 194, 094 Integrated police software 3/ 13/ 2023 5 years 110, 00 0.0% 220, 00 Total Leases and SBITAs 613, 448
Integrated police software - original subscription amount: $ 550, 00 - The software provided by Peregrine Technologies Inc. provides a real time data analysis and visualization systems that integrates data from a broad range of law enforcement software, including Computer Aided Dispatch ( CAD) provided by RIMS, Records Management System ( RMS) provided by RIMS, License Plate Readers ( LPR) provided by Vigilant insight, and Flock Fleet 3, Video Management System ( VMS) provided by Avigilon and Digital Evidence Management System ( DEMS) provided by Evidence. com.

Police cameras and tasers, and related camera software - original lease amount: $ 591, 397, original subscription amount: $598, 02 - Axon Enterprises, Inc. provides body cameras, tasers and in car video equipment to the City' s police force. The Axon system unifies the operation of body cameras, tasers and in car video and provides storage for all the data gathered from them. The system allows retrieval and use that complies with all legal requirements and is easily retrievable by all authorized personnel. The equipment will be maintained by Axon and will be replaced when necessary, avoiding the need for highly technical staff support and assuring the equipment remains functional and evidence produced will be legally viable. Axon also provides training and support for all their products leased by the City.

Annual requirements to amortize long- term obligations and related interest are as follows:

Year Ending
June 30 Principal Interest
2026 $ 358, 80 $
2027 254, 568
613, 448 $
73 197
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

9. FUND BALANCE
A. Minimum Fund Balance Policies
The City Council has established a fund balance reserve policy with the adoption of resolution 10- 3102 that deemed it desirable for the City to retain a contingency reserve level of 50% of the adjusted appropriation for any given year. The reserve balance shall not be reduced below 10% of the General Fund' s
adjusted appropriations. The contingency reserve is allocated to two categories: Economic Uncertainty Reserve, and Exposure and Emergency Reserves.

The Economic Uncertainty Reserve consists of 75% of the Contingency Reserve Balance. It is maintained to minimize the effects of major economic uncertainties, including local disasters, State budget deficits and other severe financial hardships or unforeseen changes in revenues and/ or expenditures and is available for budget stabilization. At June 30, 2025, the Economic Uncertainty Reserve amounted to 5, 284, 153.

The Exposure and Emergency Reserves consist of 25% of the Contingency Reserve Balance. Exposure Reserves are maintained to minimize the immediate financial impact of potential costs not covered by the City' s
insurance program, such as claim costs within the City' s deductibles, major costs associate with disasters and other events which will not be reimbursable by insurance, or Federal or State Government.

Emergency Reserve is maintained to minimize all unforeseen events not covered in the Economic Uncertainty Reserve and Exposure Reserves. At June 30, 2025, the Exposure and Emergency Reserves amounted to $1, 761, 384.
74 198
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

9. FUND BALANCE, Continued
B. Fund Balances
Detailed classifications of the City' s
fund balances, as of June 30, 2025, are below:

Nonspendables:

Items not in spendable form:

Advances to other funds
Prepaids
Total Nonspendable
Restricted for:

Recycling projects
Capital Projects
Public safety
Traffic and transportation
Parks and recreation
Streets and roads contracts
Measure K
Community improvements
Total Restricted
Committed to:

Capital projects
Street reserves
Sidewalk reserves
Landscape reserves
Public safety
Parks and recreation
Retirement stability
Capital equipment
Corporation yard reserves
Measure C essential city services
Economic development
Streets Other
Developer Capital and Roads General CIP Governmental
General Fund Projects Facilities Fee Capital Projects Projects Park in Lieu Funds 8, 306, 186 $
22, 034
Total
8, 306, 186
22, 034
8, 328, 220 - - - 8, 328, 220
5, 052, 634
1, 200, 000
3, 060, 368
5, 700, 000
2,00,49
6, 200, 000
6, 507, 903
489, 163
Total Committed 30, 410, 317
Unassigned:

Contingency/ emergency 7, 045, 537
Fiscal stabilization 5, 750, 000
Fund deficits
Residual fund balance 9, 763, 923
Total Unassigned
1,40, 697 14, 733, 483
26,09, 670
26, 126,44
20, 047, 623
10, 911, 752
271, 875
7, 178, 274
1, 891, 166
2, 118, 646 2, 118, 646
31, 911, 116 48, 057, 171
23, 603, 546 30, 781, 820
14, 584, 728 60, 842, 021
558, 446 29, 957 28, 605, 713
6, 509, 174 17, 420, 926
505, 021 505, 021
188, 60 188, 60
1,40, 697 67, 069, 297 30, 959, 375 9, 341,15 558, 446 79, 450, 868 188, 519, 998 1,31, 407
84, 000
6,47, 172
256, 540
265, 842
1, 593,17
6,47, 172
6, 184, 041
1, 284, 000
3, 060, 368
256, 540
265, 842
5, 700, 000
2,00,49
6, 200, 000
8, 101, 420
489, 163
1, 215, 407 8, 763, 071 - - 40, 388, 795
7, 045, 537
5, 750, 000
1, 506) ( 1, 506)
9, 763, 923
22, 559, 460 - ( 1, 506) 22, 557, 954
Total Fund Balances $ 61, 297, 997 $ 1440, 697 $ 67, 069, 297 $ 32, 174, 782 $ 18,04, 386 $ 558, 446 $ 79, 449, 362 $ 259, 74, 967 75 199
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

9. FUND BALANCE, Continued
C. Encumbrances
The City utilized an encumbrance system during fiscal year 2025 to assist in controlling expenditures.

Under this system, governmental funds are encumbered when purchase orders, contracts, or other commitments are signed or approved. The following are encumbrances at June 30, 2025, that will be carried over to the following fiscal year:

General Fund
Streets and Roads Capital Project Fund
General CIP Projects
Non -Major Funds

10. PENSION PLAN
1, 887, 128
6, 135, 709
1, 644,47
499, 841
A. 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 ( Ca1PERS). The Plan consists of individual rate plans benefit tiers) within a
safety risk pool ( police and fire) and a miscellaneous risk pool ( all other). Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous risk pools.

Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under GASB Statement No. 68. Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The City sponsors 4 rate plans ( 3 miscellaneous and 1 safety). Benefit provisions under the Plan are established by State statute and City resolution. Ca1PERS 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 Ca1PERS website.

Benefits Provided - Ca1PERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members who must be public employees, and beneficiaries.

Benefits are based on years of credited service, equal to one year of full- time employment. Members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits. All members are eligible for non -duty disability benefits after 10 years of service. The death benefit is one of the following:
the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employees' Retirement Law. 76 200
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

10. PENSION PLAN, Continued
A. General Information about the Pension Plan, Continued The Plan' sprovisions and benefits in effect at June 30, 2025, are summarized as follows:

Miscellaneous
Classic Tier 2
Hire Date
Benefit formula
Benefit vesting schedule
Benefit payment
Retirement age
Monthly benefits, as a % of annual salary
Required employee contribution rates
Required employer contribution rates
Required UAL payment
Prior to
January 1, 2013
2% 55
5 years service
Monthly for life
55 2. 00%

6. 93%

11. 88%
621, 595
July 1, 2010 to
December 31, 2012
2% @ 60
5 years service
Monthly for life
60 2. 00%

6. 93%

10.5%
14, 776
Hire Date
Benefit formula
Benefit vesting schedule
Benefit payment
Retirement age
Monthly benefits, as a % of annual salary
Required employee contribution rates
Required employer contribution rates
Required UAL payment
Safety - PEPRA
On or after
January 1, 2013
2% @57
5 years service
Monthly for life
57 2. 70%

14. 50%

14. 72%
1, 331
PEPRA
After
December 31, 2012
2% @ 62
5 years service
Monthly for life
62 2. 00%

7.5%

7. 87%
9, 885
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 achange in the rate. Funding contributions for the Plan are determined annually on an actuarial basis as of June 30 by Ca1PERS. 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.

For the measurement period ended June 30, 2024, the City' s total contributions to the Plan were $ 2, 013, 295.

B. Pension Liabilities, Pension Expenses and Deferred Outflows/ Inflows of Resources Related to Pensions As of June 30, 2025, the City reported a net pension liability for its proportionate share of the net pension liability ( asset) of the Plan of $8, 982, 438.
77 201
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

10. PENSION PLAN, Continued
B. Pension Liabilities, Pension Expenses and Deferred Outflows/ Inflows of Resources Related to Pensions, Continued
The City' snet pension liability for the Plan is measured as the proportionate share of the total pension liability for the Plan. The net pension liability of the Plan is measured as of June 30, 2023 rolled forward to June 30, 2024 using standard update procedures. The City' s proportionate share of the net pension liability was based on the City' s plan liability and asset - related information where available, and proportional allocations of individual plan amounts as of the valuation date where not available.

The City' s proportionate share of the net pension liability for the Plan as of the measurement dates June 30, 2024 and 2023 were as follows:

Proportion - June 30, 2023
Proportion - June 30, 2024

0.7263%

0.7407%
Change - Increase (Decrease) 0.0144%
For the year ended June 30, 2025, the City recognized pension expense of $2, 708, 256. At June 30, 2025 the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Deferred
Outflows of Inflows of
Resources Resources
Pension contributions subsequent to measurement date $ 2, 684, 725 $ Changes in assumptions 230, 866
Differences between actual and expected experience 776, 607 Changes in employer' sproportion 401, 60
Difference in proportionate share of contributions 988, 657 Net difference projected and actual investment earnings 517, 096 Total
30,02
53, 004
5,99,61 $ 83, 306
2, 684, 725 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2026. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Year Ending Annual
June 30 Amortization
2026 $ 1,20, 525
2027 1, 649, 401
2028 238, 807
2029 ( 177, 203)
78202
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

10. PENSION PLAN, Continued
B. Pension Liabilities, Pension Expenses and Deferred Outflows,/ Inflows of Resources Related to Pensions, Continued
Actuarial Assumptions - For the measurement period ended June 30, 2024, the total pension liability was determined using the following assumptions:

Valuation date
Measurement date
Actuarial cost method
Actuarial Assumptions:

Discount rate
Inflation
Projected salary increase
Mortality rate table ( 1)
Post retirement benefit increase
June 30, 2023
June 30, 2024
Entry -Age Normal Cost Method

6. 90%

2. 30%
Varies by Entry Age and Service
Derived using Ca1PERS Membership Data for all Funds
Contract COLA up to 2. 30% until Purchasing Power Protection Allowance Floor on Purchasing Power applies 2. 30% thereafter. 1) The mortality table used was developed based on Ca1PERS' specific data. The rates incorporate Generational Mortality to caputure ongoing mortality improvements using 80% of Scale MP 2020 published by Society of Actuaries. For more details on this table, please refer to the December 2021 experience study report that can be found on the CaIPERS website.

Discount Rate - The discount rate used to measure the total pension liability as of the measurement date of June 30, 2024 for the Plan 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' sfiduciary 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. A detailed report testing these projections can be obtained from the Ca1PERS website.

In determining the long- term expected rate of return, Ca1PERS took into account long- term market return expectations as well as the expected pension fund cash flows. Projected returns for all asset classes are estimated and, combined with risk estimates, are used to project compound ( geometric) returns over the long term. The discount rate used to discount liabilities was informed by the long- term projected portfolio return.
79 203
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

10. PENSION PLAN, Continued
B. Pension Liabilities, Pension Expenses and Deferred Outflows/ Inflows of Resources Related to Pensions, Continued
The expected real rate of return by asset class are as follows:

Asset Class
Global Equity - cap -weighted
Global Equity - non -cap -weighted
Private Equity
Treasury
Mortgage -backed Securities
Investment Grade Corporates
High Yield
Emerging Market Debt
Private Debt
Real Assets
Leverage
Current Target Real Return
Allocation ( a, b)

30. 00% 4. 54%

12. 00% 3. 84%

13. 00% 7. 28%

5. 00% 0. 27%

5. 00% 0. 50%

10. 00% 1. 56%

5. 00% 2.7%

5. 00% 2. 48%

5. 00% 3. 57%

15. 00% 3. 21%

5. 00% - 0. 59%
Total 100%
a) - An expected inflation of 2. 30% used for this period. b) - Figures are based on the 2021-2 Asset Liability Management study.

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 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 would be if it were calculated using a discount rate that is 1 -percentage point lower ( 5. 90%) or 1 - percentage point higher ( 7. 90%) than the current rate:
1% Decrease
Net Pension Liability
Current Discount Rate
Net Pension Liability
1% Increase
Net Pension Liability

5. 90%
15,79, 477

6. 90%
8, 982, 438

7. 90%
3, 882, 516
Pension Plan Fiduciary Net Position - Detailed information about the pension plan' s fiduciary net position is available in the separately issued Ca1PERS financial reports.

At June 30, 2025, the City reported a payable of $56,59 for the outstanding amount of contributions to the pension plan required for the year ended June 30, 2025. 80 204
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. OTHER POST - EMPLOYMENT BENEFITS
A. General Information about the City' s
Other Post - Employment Benefit ( OPEB) Plan
Plan Description - The City' s
Post - Employment Benefit Plan is an agent multiple -employer defined benefit OPEB plan.

By resolution and through agreements with its labor units, the City provides certain health care benefits for retired employees. The City in the CalPERS health care plan, which is governed under the California Public Employees Health and Medical Care Act ( PEMCHA). The City also participates in the California Employers Retirees Benefit Trust ( CERBT), an irrevocable trust established to fund OPEB. CERBT is an agent multiple -employer defined benefit other postemployment benefits plan administrated by CalPERS, and is managed by an appointed board not under the control of the City Council. CERBT consists of participating employers of the State of California and public agencies. Individual employers may establish more than one plan.

The CERBT was established by Chapter 331 of the 1988 California Statutes, and employers elect to participate in the CERBT to pre -fund health, dental, and other non -pension postemployment benefits for their retirees and survivors. The CERBT has pooled administrative and investment functions, while separate employer accounts are maintained to prefund and pay for health care or other postemployment benefits in accordance with the terms of the participating employers' plans. There are three CalPERS Board approved investment strategies for employers to choose from depending on their expected levels of return and volatility. Benefit provisions are established by participating employers.

The CERBT Trust is not considered a component unit by the City and has been excluded from these financial statements. Separately issued financial statements for CERBT may be obtained from CALPERS at P. O. Box 942709, Sacramento, California 94229- 2709. 81 205
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. OTHER POST - EMPLOYMENT BENEFITS, Continued
A. General Information about the City' s
Other Post - Employment Benefit ( OPEB) Plan, Continued Benefits Provided - The following is a
summary of Plan benefits by employee group as of June 30, 2025:

Tier Hire Date Retirement Date Eligibility
Benefit Prior to Retiree' s (or Surviving
Spouse' s) Eligibility for Medicare
Benefit After Retiree' s (or Surviving
Spouse' s) Eligibility for Medicare
1 Before 7/ 1/ 2014
On or before
12/ 31/ 2014
Age 50 within 5
years of PERS
service
Benefit accourding to previous Unequal PEMHCA Resolution (i.e., no change for this group). 100% of premium for the retiree and any eligible covered dependents, up to $ 1, 536 per month in 2018, increasing by $100 each calendar year until such time as it is equal to active employee per month in each City contribution.
2 Before 7/ 1/ 2014 After 12/ 31/ 2014
Age 50 within 5
years of PERS
service
PEMHCA Minimum Employer
Contribution (MEC) PEMHCA Minimum Employer
Age 55 within 5 Contribution (MEC)
years of PERS
service
100% of the premium for retiree plus
one up to the monthly cap for active
employees*
2 After 7/ 1/ 2014 Any
Age 50 within 5
years of PERS
service
PEMHCA Minimum Employer
Contribution (MEC)
PEMHCA Minimum Employer
Age 55 within 5 Contribution ( MEC)
years of PERS
service
100% of the premium for retiree and
dependants, up to the following
percantages of the monthly cap for
active employees*
5 years of service: 25%
10 years of service: 50%
15 years of service: 100%
In 2025, the City contributed a maximum of $2, 093 per month toward medical coverage for active employees and their dependents. This amount will increase annually by 50% of premium increase for the median cost medical plan, not to exceed

5.% per year.

For the measurement period ended June 30, 2024, the City' s contributions to the Plan were $ 342, 016, which
were comprised of contributions to the trust of $220, 192 and implicit subsidy payments of $121, 824.

Employees Covered by Benefit Terms - Membership in the plan consisted of the following at the valuation date of June 30, 2023:

Active Employees
Inactive employees or beneficiaries currently receiving benefits Inactive employees entitled to but not yet receiving benefits Total
141
26 11
178
82 206
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. OTHER POST - EMPLOYMENT BENEFITS, Continued
B. Net OPEB Liability
Actuarial Methods and Assumptions - The City' s
net OPEB liability was measured as of June 30, 2024,
and the total OPEB liability was determined by an actuarial valuation dated June 30, 2023. These are the following actuarial methods and assumptions:

Actuarial Assumptions
Valuation Date
Measurement Date
Actuarial Cost Method
Actuarial Assumptions:

Discount Rate
Inflation
Payroll Growth
Investment Rate of Return
Mortality Improvement
Healthcare Trend Rate
June 30, 2023
June 30, 2024
Entry -Age Normal Cost, level percent of pay

6. 15%

2. 50%

3. 00%

6. 15%
MacLeod Watts Scale 2022 applied generationally from 2017

9.0% in 2025, then 6.0% decreasing to 3.9% in 2075 and later Demographic actuarial assumptions used in this valuation are based on the 2021 experience study of the California Public Employees Retirement System using data from 1997 to 2019, except for a different basis used to project future mortality improvements.

Ca1PERS last updated the projected future investment returns for CERBT Strategy 1 in June 2024. The returns were determined using a building- block method and best -estimate ranges of expected future real rates of return for each major asset class ( expected returns, net of OPEB plan investment expense and inflation). The target allocation and best estimates of geometric real rates of return published by Ca1PERS for each major class are split for years 1-5 and years 6 - 20. The target allocation for each major asset class are summarized in the following table:

Asset Class Target Allocation
Global Equity
Fixed Income
Real Estate Investment Trusts
Treasury Inflation Protection Securities
Commodities

49. 00%

23. 00%

20. 00%

5. 00%

3. 00%
Total 100%
83 207
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. OTHER POST - EMPLOYMENT BENEFITS, Continued
B. Net OPEB Liability, Continued
Discount Rate - The discount rate used to measure the total OPEB liability was 6. 15%. 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.

C. Changes in Net OPEB Liability
The changes in the total OPEB liability follows:

Increase (Decrease)
Net OPEB
Total OPEB Plan Fiduciary Liability/( Asset)
Liability ( a) Net Position (b) ( c) = (a) - (b)
Balance at Measurement Date 6/ 30/ 223
Changes Recognized for the Measurement Period:

Service Cost
Interest on the total OPEB liability
Investment income
Contributions from the employer
Changes in benefit terms
Administrative expenses
Other Expenses ( one time)
Benefit payments
Changes of assumptions
Plan experience
Net changes
6, 734, 194 $ 5, 212, 364 $ 1, 521, 830
800, 533
450, 560
800, 533
450, 560
309, 107 ( 309, 107)
418, 251 ( 418, 251)
1, 704) 1, 704
417, 092) ( 417, 092)
834, 001 308, 562 525, 439
Balance at Measurement Date 6/ 30/ 224 $ 7, 568, 195 $ 5,20, 926 $ 2, 047, 269 84208
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. OTHER POST - EMPLOYMENT BENEFITS, Continued
D. Sensitivity ofthe Net OPEB Liability to Changes in the Discount Rate and Healthcare Cost Trend Rates
The following presents the total OPEB liability of the City, as well as what the City' stotal OPEB liability would be if it were calculated using a discount rate that is 1 -percentage -point lower ( 5. 15%) or 1 - percentage - point higher ( 7. 15%) than the current discount rate:

Net OPEB Liability/( Asset)
Discount Rate Discount Rate
1% ( 5. 15%)
Discount Rate

6. 15%) + 1% ( 7. 15%)
2, 860, 789 $ 2, 047, 269 $ 1, 350, 521
The following presents the net OPEB liability of the City, as well as what the City' s net OPEB liability
would be if it were calculated using healthcare cost trend rates that are 1 -percentage - point lower or 1 - percentage - point higher than the current healthcare cost trend rates:

Net OPEB Liability/( Asset)
Healthcare Cost Trend Rates
1% Decrease Current Rate 1% Increase
1, 239, 679 $ 2, 047, 269 $ 3, 023, 259
E. OPEB Expenses and Deferred Outflows/ Inflows of Resources Related to 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 OPEB Plan and additions to/ deductions from the OPEB Plan' s fiduciary net position have been
determined on the same basis as they are reported by Ca1PERS. For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value.

For the year ended June 30, 2025, the City recognized OPEB expense of $1, 005650. At June 30, 2025, the City reported deferred outflows and inflows of resources related to OPEB from the following sources:

Deferred Deferred
Outflows of Inflows of
Resources Resources
Employer contributions subsequent to measurement date $ 1, 312, 600 $ - Differences between actual and expected experience 265, 588 Changes in assumptions 275, 109 20, 393
Net difference projected and actual earnings on plan investments 379, 582 - Total 1, 967, 291 $ 285, 981
1, 312, 600 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the OPEB liability in the year ended June 30, 2026. 85 209
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. OTHER POST - EMPLOYMENT BENEFITS, Continued
E. OPEB Expenses and Deferred Outflows/ Inflows of Resources Related to OPEB, Continued Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized as part of OPEB expense as follows:

Year Ending
June 30
2026
2027
2028
2029
2030
Thereafter

12. RISK MANAGEMENT
Annual
Amortization
66, 778
267, 821
7, 690)
14, 850
12, 561
14, 390
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The City participates in the Central San Joaquin Valley Risk Management Authority ( CSJVRMA), a public entity risk poor currently operating as a common risk management and insurance program for 55 cities. The purpose of CSJVRMA is to spread the adverse effect of losses among the members and to purchase excess insurance as a group, thereby
reducing its expense. The City is also a member of Employment Risk Management Authority ( ERMA), which covers wrongful employment practices.

The City' s
deductibles and maximum coverage follows:

Coverage
Workers compensation
General liability
Property damage
Low value auto program
High value auto program
Employment practices liability
Deductible CSJVRMA
25, 000
25, 000
5, 000
500
5, 000
25, 000
500, 00
1, 000,00
100, 00
25, 000
25, 000 to 250, 00
Excess Liability ERMA
Statutory Limits $
98, 000,00
23, 000,00 1, 000,00
The City contributes its pro rata share of anticipated losses to a pool administered by CSJVRMA. Should actual losses among participants be greater than the anticipated losses, the City will be assessed its pro rata share of that deficiency. Conversely, if the actual losses are less than anticipated, the City will be refunded its pro rata share of the excess. The City paid CSJVRMA premiums and ERMA premiums totaling $ 3, 565, 937 during the fiscal year ended June 30, 2025. Settled claims have not exceeded commercial excess liability coverage in any of the past three fiscal years.

The City did not record a
liability for outstanding claims at fiscal year- end, as the claims were minimal. 86210
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. COMMITMENTS AND CONTINGENCIES
The City participates in several Federal and State grant programs. These programs are subject to audits by the City' sindependent accountants in accordance with the provisions of the Federal Single Audit Act as amended and applicable State requirements. No cost disallowances have been proposed as a result of these audits. However, these programs are still subject to further examination by the grantors and the amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time. The City expects such amounts, if any, to be immaterial.

The City is subject to litigation arising in the normal course of business. These matters do not have a determined effect on the financial statements at this time.

14. RESTATEMENTS
During the fiscal year ended June 30, 2025, the City had various purposes for restatements. The City had a change in accounting principle. Three funds met the requirements to be reported as major during the year, whereas they were reported as nonmajor in fiscal year 2023-4. Lastly, the City made one error correction during the fiscal year.

A. Change in Accounting Principle
The City implemented GASB Statement 101 - Compensated Absences, which restated the beginning balances for the Governmental Activities, Business -Type Activities, Water Fund and Sewer Fund, due to the inclusion of sick leave in the liability.

B. Correction of an Error in Previously Issued Financial Statements:

The City determined that a
liability, " due to other governments", had been incorrectly recorded in the Water fund since the fiscal year ended June 30, 2019. It was used as a temporary holding account for debt
service and was not cleared out starting in fiscal year 2018- 19. Expenses were incorrectly overstated in that year. Net position was incorrectly understated by $298, 77 since then.

C. Table of Changes
The tables on the following page display the prior fund balances and net positions at June 30, 2024, and the changes made as a result of accounting changes, error corrections and changes in reporting unit for funds moving from major to nonmajor.
87 211
City of Lathrop
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

14. RESTATEMENTS, Continued
C. Table of Changes, Continued
June 30, 2024, Change from
as previously nonmajor to June 30, 2024,
reported major fund as restated
Governmental Funds:

Major Governmental Funds
Developer Projects
Streets and Roads Capital Projects Fund
Park in Lieu Capital Projects Fund
Nonmajor Governmental Funds
Proprietary Funds:

Major Enterprise Funds
Water Fund
Sewer Fund
Internal Service Fund
99, 119, 951
630,95 $ 630,95
21, 831, 610 21, 831, 610
3, 127, 221 3, 127, 221
25, 589,26) 73, 530, 425
Total Governmental Funds $ 99, 119, 951 $ - $ 99, 119, 951 June 30, 2024, Error
as previously GASB 101 Correction June 30, 2024,
reported Implementation ( Note A) as restated
111, 280, 762 $ ( 26, 428) $ 298, 77 $ 111, 553, 121
194, 578,85 ( 13, 959) - 194, 564, 626
331, 632) - ( 331, 632)
Total Proprietary Funds $ 305, 89, 347 $ ( 372, 019) $ 298, 77 $ 305, 786, 115 Government -Wide:

Governmental Activities
Business -Type Activities
584,73, 128 $ ( 446, 182) $ $ 584, 126, 946
305, 89, 347 ( 40, 387) 298, 77 306, 117, 747
Total Primary Government $ 890, 432,75 $ ( 486, 59) $ 298, 77 $ 890, 244, 693 88 212

REQUIRED

SUPPLEMENTARY INFORMATION
213
City of Lathrop
Required Supplementary Information
For the year ended June 30, 2025
Cost -Sharing Multiple Employer Plan
Schedule ofProportionate Share of the Net Pension Liability - Last 10 Fiscal Years Fiscal year reporting date
Measurement date
Proportion of the net pension liability
Proportionate share of the net pension liability
Covered payroll
Proportionate share of the net pension
liability as percentage of covered payroll
Plan' s (PERF- C) fiduciary net position
as a percentage of the total pension liability
6/ 30/ 216 6/ 30/ 217 6/ 30/ 218 6/ 30/ 219
6/ 30/ 215 6/ 30/ 216 6/ 30/ 217 6/ 30/ 218

0.4556% 0.4980% 0.5243% 0.5269%
3, 127, 249 $ 4, 309, 662 $ 5, 199, 968 $ 5, 077, 307
4, 364,10 $ 5, 148, 017 $ 5,68, 372 $ 6, 004, 176

71. 66% 83. 71%

78. 40% 74. 06%

93. 38% 84. 56%

73. 31% 75. 26%
Notes to the schedule:

The Ca1PERS discount rate was increased from 7.5% to 7. 65% in fiscal year 2016, decreased from 7. 65% to 7. 15% in fiscal year 2018, and then decreased from 7. 15% to 6.9% in fiscal year 2023.

The Ca1PERS mortality assumptions were adjusted in fiscal year 2019. 90 214
6/ 30/ 220 6/ 30/ 221 6/ 30/ 222 6/ 30/ 223 6/ 30/ 224 6/ 30/ 225 6/ 30/ 219 6/ 30/ 220 6/ 30/ 2021 6/ 30/ 222 6/ 30/ 223 6/ 30/ 224

0.5586% 0.5897% 0.5487% 0.6897% 0.7263% 0.7407%
5, 723,99 $ 6, 416, 539 $ 2, 967, 660 $ 7, 966, 383 $ 9, 061, 319 $ 8, 982, 438 6, 384, 728 $ 6, 808, 162 $ 7, 021, 189 $ 8, 113, 507 $ 12, 345, 922 $ 16, 478, 751

89. 65% 94. 25% 42. 27% 98. 19% 73. 40% 54.1%

75. 26% 75. 10% 88. 29% 76. 68% 76. 21% 78. 08%
215
City of Lathrop
Required Supplementary Information
For the year ended June 30, 2025
Cost Sharing Multiple Employer Plan
Schedule Of Plan Contributions - Last 10 Fiscal Years
Miscellaneous Rate Plan
Actuarially determined contribution
Contributions in relation to actuarially
determined contributions
Contribution deficiency ( excess)
Covered payroll
Contributions as a
percentage of
covered payroll
Note to Schedule:
2016 2017 2018 2019
369, 225 $ 434, 033 $ 465, 746 $ 766, 989
369, 225) ( 434, 033) ( 465, 746) ( 766, 989)
5, 148, 017 $ 5,68, 372 $ 6, 004, 176 $ 6, 384, 728

7. 17% 7.9% 7.6% 12. 01%
Methods and assumptions used to determine contribution rates:

Valuation date ( for contractually required 6/ 30/ 213 6/ 30/ 214 6/ 30/ 215 6/ 30/ 216 contribution):

Actuarial cost method: Entry Age Entry Age Entry Age Entry Age Amortization method: ( 1) ( 1) ( 1) ( 1)
Assets valuation method Market Value Market Value Market Value Market Value Inflation 2. 75% 2. 75% 2. 75% 2. 75%
Salary Increases ( 2) ( 2) ( 2) ( 2)
Investment rate of return 7. 50% 7. 50% 7. 50% 7. 375%
Retirement age ( 3) ( 3) ( 3) ( 3)
Mortality ( 4) ( 4) ( 4) ( 4)
1) Level percentage of payroll, closed
2) Depending on age, service, and type of employment
3) 50 for all plans, with the exception of 52 for Miscellaneous PEPRA 2%@62 4) Mortality assumptions are based on mortality rates resulting from the most recent Ca1PERS Experience Study adopted by the Ca1PERS Board. 92 216
2020 2021 2022 2023 2024 2025
917, 56 $ 1, 062, 215 $ 1, 200,71 $ 2, 013, 295 $ 2,95, 039 $ 2, 684, 725 917, 576) ( 1, 062, 215) ( 1, 200,71) ( 2, 013, 295) ( 2,95, 039) ( 2, 684, 725) 6, 808, 162 $ 7, 021, 189 $ 8, 113, 507 $

13. 48% " 15.3%
12, 345, 922 $ 16, 478, 751 $ 18, 548, 334

14. 79% 16. 31% 13. 93% 14. 47%
6/ 30/ 217 6/ 30/ 218 6/ 30/ 219 6/ 30/ 220 6/ 30/ 221 6/ 30/ 222 Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age 1) ( 1) ( 1) ( 1) ( 1) ( 1)
Market Value Market Value Market Value Market Value Market Value Market Value

2. 63% 2. 50% 2. 50% 2. 50% 2. 30% 2. 30%
2) ( 2) ( 2) ( 2) ( 2) ( 2)

7. 25% 7. 00% 7. 00% 7. 00% 6. 80% 6. 80%
3) ( 3) ( 3) ( 3) ( 3) ( 3)
4) ( 4) ( 4) ( 4) ( 4) ( 4)
93 217
City of Lathrop
Required Supplementary Information
For the year ended June 30, 2025
Schedule of Changes in the Net OPEB Liability and Related Ratios - Last 10 Fiscal Years* Fiscal year End
Total OPEB Liability
Service cost
Interest on the total OPEB liability
Differences between expected and actual experience
Changes of assumptions
Benefit payments
Net change in the total OPEB liability
Total OPEB liability - beginning
Total OPEB liability - ending ( a)
Plan Fiduciary Net Position
Contribution - employer
Net investment income
Benefit payments
Other expense
Administrative expense
Net change in plan fiduciary net position
Plan fiduciary net position - beginning
Plan fiduciary net position - ending ( b)
Net OPEB Liability - ending (a) - (b)
Plan fiduciary net position as a percentage of the total OPEB liability Covered -employee payroll
Net OPEB liability as a percentage of covered -employee payroll Assumptions used to develop the results are shown below:

Measurement Date
Discount Rate
Valuation Date
Actuarial Cost method
Amortization method:

Assets valuation method
Inflation
Healthcare cost trend rates
Salary Increases
Discount Rate
Retirement age
Mortality
Mortality Improvement
6/ 30/ 218 6/ 30/ 219 6/ 30/ 220 6/ 30/ 221
228, 075 $ 231, 377 $ 238, 897
366, 257 359, 416 378, 925
430, 189) ( 134, 660)
42, 010 ( 62, 441)
299, 940) ( 314, 423) ( 324, 785)
247, 448
372, 499
404, 32)
93, 787) 276, 370 95,36 215, 605
5, 154,31 5, 060, 344 5, 336, 714 5, 432, 650
5, 060, 344 $ 5, 336, 714 $ 5, 432, 650 $ 5, 648, 255
471, 077 $
307, 58
299, 940)
1, 576)
495, 719
276, 193
314, 423)
4, 582)
1, 813)
459, 510
230, 777
324, 785)
486, 383
151,73
404, 32)
825) ( 2, 094)
451, 094
2, 984, 872 3, 462, 011
364, 677 231, 120
3, 913, 105 4, 277, 782
2, 984, 872 $ 3, 913, 105 $ 4, 277, 782 $ 4, 508, 902
2, 075, 472 $ 1, 423, 609 $ 1,54, 868 $ 1,39, 353

58. 99% 73. 32% 78.4% 79. 83%
5, 982, 337 $ 6, 377,87 $ 6, 358, 722 $ 6, 549, 484

34. 69% 22. 32% 18.6% 17. 40%
6/ 30/ 217 6/ 30/ 218

7. 00% 7. 00%
6/ 30/ 219 6/ 30/ 220

6. 80% 6. 80%
6/ 30/ 217 6/ 30/ 219
Entry Age Normal Entry Age Normal
Closed 30 years Closed 30 years
Market Value Market Value

2. 75% 2. 50%

7.5% in Jan 2019, step down
5% per year to 5.0% by 2024

5.4% in Jan 2021, Fluctuates
down to 4.0% by 2076

3. 25% 3%

7. 00% 6. 80%
From 50 to 75 From 50 to 75
2014 Ca1PERS Experience 2017 Ca1PERS Experience
MacLeod Watts Scale 2017 MacLeod Watts Scale 2018
Historical information is required only for measurement periods for which GASB 75 is applicable. Future years' information will be displayed up to 10 years as information becomes available. 94 218
6/ 30/ 222 6/ 30/ 223 6/ 30/ 224 6/ 30/ 225
254, 871 $ 301, 667 $ 310, 717 $ 800, 533
388, 811 374, 65 395,39 450, 560
94, 590 - ( 203, 641)
231, 797 -
370, 644) ( 351, 661) ( 340, 552) ( 417, 092)
367, 628 324, 651 393, 660 834, 001
5, 648, 255 6, 015, 883 6, 340, 534 6, 734, 194
6, 015, 883 $ 6, 340, 534 $ 6, 734, 194 $ 7, 568, 195
435, 828 $ 517, 163 $ 342, 016 $ 418, 251
308, 766 ( 1, 030, 633) 311, 004 309, 107
370, 644) ( 351, 661) ( 340, 552) ( 417, 092)
886, 742 -
1, 642) ( 1, 453) ( 1, 472) ( 1, 704)
1, 259, 050 ( 866, 584) 310, 996 308, 562
4, 508, 902 5, 767, 952 4, 901, 368 5, 212, 364
5, 767, 952 $ 4, 901, 368 $ 5, 212, 364 $ 5,20, 926
247, 931 $ 1, 439, 166 $ 1, 521, 830 $ 2, 047, 269

95. 88% 77. 30% 77. 40% 72. 95%
7, 838, 544 $ 9,31, 244 $ 15, 989, 632 $ 18, 558, 796

3. 16% 14. 49% 9. 52% 11. 03%
6/ 30/ 221 6/ 30/ 222 6/ 30/ 223 6/ 30/ 224

6. 10% 6. 10%
6/ 30/ 221
Entry Age Normal
Closed 30 years
Market Value

2. 50%

5.8% in Jan 2023, decreasing to

3.9% by 2076
3%

6. 10%
From 50 to 75
Ca1PERS 2021 Experience
MacLeod Watts Scale 2022

6. 15% 6. 15%
6/ 30/ 223
Entry Age Normal
Closed 30 years
Market Value

2. 50%

9.0% in 2025, decreasing to 3.9%
by 2075
3%

6. 10%
From 50 to 75
Ca1PERS 2021 Experience
MacLeod Watts Scale 2022
95 219
City of Lathrop
Required Supplementary Information
For the year ended June 30, 2025
Schedule of OPEB Contributions - Last 10 Fiscal Years*
Fiscal Year Ended 2018 2019 2020 2021 2022
Actuarially determined contribution
Contributions in relation to actuarially determined
contributions
Contribution deficiency ( excess)
Covered employee payroll
389, 509 $ 359, 460 $ 369, 969 $ 361, 138 $ 368, 85
495, 719) ( 459, 510) ( 396, 085) ( 435, 828) ( 517, 163) 106, 210) $ ( 100, 050) $ ( 26, 116) $ ( 74, 690) $ ( 148, 278) 6, 377,87 $ 6, 358, 722 $ 6, 549, 484 $ 7, 838, 544 $ 9,31, 244 Contributions as a percentage of covered employee 6. 11% payroll
Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018 was the first year of implementation. Future years' information will be displayed up to 10 years as information becomes available.

5. 65% 5. 65% 4. 61% 3. 71%
Notes to Schedule - assumptions used to develop Actuarially determined contribution Valuation Data
Actuarial Cost method
Amortization method:

Amortization Period:

Assets valuation method
Inflation
Healthcare cost trend rates
Salary Increases
Investment rate of return
Retirement age
Mortality
Mortality Improvement
7/ 1/ 2015
Entry Age
Normal Level %
of pay
Closed 30 Years
23 Yrs remain
Market Value

2. 75%

7.5% in Jan 2017,
step down to
5% per year to

4.5% by 2023

3. 25%

7. 00%
From 50 to 75
2014 Ca1PERS
Experience
Study
MacLeod Watts
Scale 2014
6/ 30/ 217
Entry Age Normal Level % of pay
Closed 30 Years
22 Yrs remain 21 Yrs remain
Market Value

2. 75%

7.5% in Jan 2019, step down to .5%
per year to 5.0% by 2024

3. 25%

7. 00%
From 50 to 75
2014 Ca1PERS Experience Study
MacLeod Watts Scale 2017
6/ 30/ 219
Entry Age Normal Level % of pay
Closed 30 Years
20 Yrs remain 19 Yrs remain
Market Value

2. 50%

5.4% in Jan 2021, flucates down to

4.0% by 2076

3. 00%

6. 70%
From 50 to 75
2017 Ca1PERS Experience Study
MacLeod Watts Scale 2018
96 220
2023 2024 2025
405, 006 $ 418, 251 $ 1, 043, 710
405, 006) ( 418, 251) ( 1, 312, 600)
268, 890)
15, 989, 632 $ 18, 558, 796 $ 21,78, 085

2. 53% 2.5% 4. 91%
6/ 30/ 221
Entry Age Normal Level % of pay
Closed 30 Years
18 Yrs remain 17 Yrs remain
Market Value

2. 50%

5.8% in 2023 decreasing to 3.9% by
2076

3. 00%

6. 10%
From 50 to 75
2017 Ca1PERS Experience Study
MacLeod Watts Scale 2022
6/ 30/ 223
Entry Age
Normal
Closed 30 Years
16 Yrs remain
Market Value

2. 50%
6% in 2026
decreasing to

3.9% by 2075

3. 00%

6. 15%
From 50 to 75
2021 Ca1PERS
Experience
Study
MacLeod Watts
Scale 2022
97 221
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Fund
For the year ended June 30, 2025
REVENUES:

Taxes and assessments
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Miscellaneous
Total revenues
EXPENDITURES:

Current:

General government
City council
City manager
City clerk
City attorney
Personnel
Central services
Finance
Information technology
Measure C
Total general government
Public safety
Administration
Community services
Operations
Support
Total public safety
Community development
Planning
Total community development
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
27, 740, 000 $ 29,40, 000 $ 33,60, 814 $ 4, 120, 814
292, 306 292, 306 273, 823 ( 18, 483)
3, 860, 000 4, 160, 000 4, 997,18 837, 918
526, 494 573, 157 641, 286 68, 129
304, 964 268, 832 2, 892,57 2, 624, 025
100, 40 100, 40 135, 38 34, 958
413, 800 413, 800 265, 519 ( 148, 21)
33, 237, 964 35, 048, 495 42, 567,75 7, 519, 080
80, 160 311, 630 301, 462
1, 071, 421 1, 497, 177 1, 467, 619
449,1 527, 422 480, 297
852, 236 869, 552 861, 476
806,37 803, 743 801, 587
1, 836, 490 2,65,67 2, 316, 107
2, 003, 313 2, 147, 699 2, 147, 698
3, 549, 668 4, 667, 725 4,67, 269
850, 498 1, 027, 374 836, 955
10,68
29, 558
47, 125
8, 076
2, 156
50, 840)
1 200, 456
190, 419
11, 500, 114 14,17, 589 13, 680, 470 437, 119
3, 617, 057 1, 861,90 1, 734, 479
891, 273 840, 684
1, 548,94 1,86, 585 1,81,47
7, 254, 754 8, 777, 051 8, 423, 028
2,56, 863 3,32, 713 3, 187, 361
127, 411
50,89
5, 438
354, 023
145, 32
14, 677, 268 16, 049, 512 15, 366, 699 682, 813
1, 018, 558 1, 278, 697 1, 076,39 202, 658
1, 018, 558 1, 278, 697 1, 076,39 202, 658
98222
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Fund, continued
For the year ended June 30, 2025
Culture and leisure
Administration
Senior center
Recreation programs
Special events
Youth development
Sports
Facilitates and library
City hall
Building maintenance
Park and landscape maintenance
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
503, 015
164, 894
99, 554
239, 688
391, 904
356, 76
223, 852
418, 641
407, 725
1, 353, 673
505,05
194, 45
139, 254
289, 178
366, 178
356, 26
235, 962
470, 578
185, 947
135, 48
263, 172
321, 752
310,73
202, 160
34, 927
8, 498
3, 796
26, 006
44,26
45, 893
33, 802
Total culture and leisure 4, 159, 712 2, 086, 788 1, 889, 440 197, 348 Public works
Administration 798, 128 1, 005, 291 749, 375 255, 916
Building maintenance - 499, 825 423,50 76, 375
City hall - 618, 576 477, 186 141, 390
Parks and landscape maintenance - 2,47, 577 1,47, 636 1, 099, 941 Utility engineering 265,0 314,55 282, 168 32, 187
Total public works 1, 063, 378 4, 685,24 3, 079, 815 1, 605, 809 Capital outlay 330, 00 4, 183, 355 3, 140, 389 1, 042, 966 Debt service:

Principal retirement 330, 00 330, 00 330, 00 -
Lease principal retirement - 591,63 591,63
Interest and fiscal charges 49, 600 49, 598 49, 598 -
Total expenditures 33, 128, 630 43, 372, 726 39, 204, 013 4, 168, 713

REVENUES OVER (UNDER)
EXPENDITURES 109, 334 ( 8, 324, 231) 3,63, 562
OTHER FINANCING SOURCES ( USES):

Transfers in
Transfers out
Lease and software subscription issuance
Proceeds from sale of capital assets
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
11, 687, 793
10, 618, 080 11, 286, 883 8, 342, 914 ( 2, 943,69)
7, 185, 410) ( 15, 511, 623) ( 12, 784,01) 2, 726, 922
322, 790 322, 790
8, 415 8, 415
3, 432, 670 ( 4, 224, 70) ( 4, 110, 582) 114,58
3, 542, 004 $ ( 12, 548, 971) 747, 020) $ 11, 801, 951
62, 045,17
61, 297, 997
99 223
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Developer Projects
For the year ended June 30, 2025
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
REVENUES:

Use of money and property $
Developer participation
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
Restatement
Beginning of year, as restated
End of year
512, 182 $ 512, 182
300, 00 40, 591, 378 23, 909, 629 ( 16, 681, 749)
300, 00 40, 591, 378 24, 421, 811 ( 16,69, 567)
300, 00 40, 591, 378 24, 421, 811 ( 16,69, 567)
304, 830) ( 40, 678, 748) ( 23, 911, 809) 16, 766, 939
304, 830) ( 40, 678, 748) ( 23, 911, 809) 16, 766, 939
4, 830) $ ( 87, 370) 510, 02 $ 597, 32
630,95
630,95
1,40, 697
100
224
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Capital Facility Fees
For the year ended June 30, 2025
REVENUES:

Taxes and assessments
Use of money and property
Miscellaneous
Total revenues
EXPENDITURES:

Current:

Public works
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
28, 760,93 $ 28, 760,93 $ 17, 336, 960 $ ( 11, 423, 833) 3,39, 679 3,39, 679
563, 022 563, 022
28, 760,93 28, 760,93 21,39, 661 ( 7, 521, 132)
243, 763 943, 763 943, 763
Total expenditures 243, 763

REVENUES OVER (UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
943, 763 943, 763
28, 517, 030 27, 817, 030 21,39, 661 ( 6, 577, 369)
3, 483, 006) ( 2, 686, 525) ( 2, 686, 523) 2
3, 483, 006) ( 2, 686, 525) ( 2, 686, 523) 2
18, 553, 138 $ 18, 553, 138
48, 516, 159
67, 069, 297
101
225
City of Lathrop
Notes to Required Supplementary Information
For the Year Ended June 30, 2025

BUDGETS AND BUDGETARY ACCOUNTING
The City establishes annual budgets for the General and certain special revenue funds, which are adopted on a basis consistent with accounting principles generally accepted in the United States of America. The budgets for the General and certain special revenue funds are the only legally adopted budgets. Budgets for the capital project funds are used for management and control purposes only. All appropriations remaining at fiscal year- end lapse. Budgeted amounts are reflected after all applicable amendments and revisions.

The legal level of control ( level at which expenditures may not legally exceed budget appropriations) is at the department level. If the expenditures exceed the appropriations, the City Manager is authorized to transfer budgeted amounts between the line items within any department or between divisions within the department.

During the fiscal year, the City made a number of supplemental budget amendments totaling $134, 001, 661 in revenues and $ 239, 89, 172 in expenditures.

ADOPTED BUDGETS
For the fiscal year ending June 30, 2025, the Public Nuisance, the Historic Lathrop Loan Program (HLLP), the North Lathrop Transportation, the Lathrop Land Acquisitions, the Stewart Economic Dev Fee 80%, and the TOT Trust Special Revenue Funds did not adopt an annual budget. 102
226

SUPPLEMENTARY INFORMATION
227
This page intentionally left blank
104
228
City of Lathrop
General Fund
Year Ended June 30, 2025
The general Fund is the City' s primary Operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. The General Fund is comprised of the following:

GENERAL PURPOSE FUND
This fund accounts for all financial resources except those to be accounted for in another fund. It is the general operating fund of the City.

ECONOMIC DEVELOPMENT FUND
To account for small business assistance grants approved by Council. The fund was reactivated in fiscal year 2020 due to the impacts of COVID- 19.

MEASURE C ESSENTIAL CITY SERVICES FUND
To account for revenue and expenditures for the city' s Measure C Essential City Services portion.
105
229
City of Lathrop
Combining Balance Sheet
General Funds
For the year ended June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts ( net of allowance for uncollectibles)
Accrued interest
Prepaids
Advances to other funds
Total assets

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued liabilities
Unearned revenue
Deposits payable
Total liabilities
Fund Balances:

Nonspendable
Committed
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
General Economic
Purpose Fund Development Measure C
Total
General
Funds
46, 173, 740 $ 488, 058 $ 4, 649, 185 $ 51, 310, 983
2,17, 535 1,05 1, 869, 515 4, 088, 155
93, 859 16, 971 110, 830
22, 034 22, 034
8, 306, 186 - 8, 306, 186
56, 813, 354 $ 489, 163 $ 6, 535, 671 $ 63, 838, 188
1,38, 679 $
149, 466
243, 306
924, 354
27, 768 $ 1,66, 447
149, 466
243, 306
924, 354
2, 455, 805 27, 768 2, 483, 573
8, 328, 220
23, 413, 251
22, 559, 460
489, 163
8, 328, 220
6, 507, 903 30, 410, 317
22, 559, 460
54, 300, 931 489, 163 6, 507, 903 61, 297, 997
56, 813, 354 $ 489, 163 $ 6, 535, 671 $ 63, 838, 188
106
230
City of Lathrop
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances General Funds
For the year ended June 30, 2025
REVENUES:

Taxes and assessments
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Miscellaneous
General Economic
Purpose Fund Development Measure C
Intrafund
Transactions
Elimination
Total
General
Funds
23,71, 143 $
273, 823
4, 997,18
641, 286
2, 508, 832
135, 38
265, 519
10, 089, 671 $
23, 746 360, 279
33,60, 814
273, 823
4, 997,18
641, 286
2, 892,57
135, 38
265, 519
Total revenues 32, 093, 879
EXPENDITURES:

Current:

General government
Public safety
Community development
Culture and leisure
Public works
Capital outlay
Debt service:

Principal retirement
Lease principal retirement
Interest and fiscal charges
23, 746 10, 449, 950 - 42, 567,75
12, 843, 515
15, 366, 699
1, 076,39
1, 889, 440
3, 079, 815
3, 140, 389
836, 955 - 13, 680, 470
15, 366, 699
1, 076,39
1, 889, 440
3, 079, 815
3, 140, 389
330, 00 - - - 330, 00
591,63 - - 591,63
49, 598 - - 49, 598
Total expenditures 38,67, 058

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers in
Transfers out
Lease and software subscription issuance
Proceeds from sale of capital assets
836, 955 39, 204, 013
6, 273, 179) 23, 746 9, 612, 995 3,63, 562
10, 597, 780
6, 095, 903)
322, 790
8, 415
2,54, 866) 8, 342, 914
8, 943, 664) 2,54, 866 ( 12, 784,01)
322, 790
8, 415
Total other financing sources ( uses) 4, 833, 082 - ( 8, 943, 664) Net change in fund balances ( 1, 440, 097) 23, 746 669, 331 FUND BALANCES:

Beginning of year
End of year
55, 741, 028 465,17 5, 838, 572
4, 110, 582)
747, 020)
62, 045,17
54, 300, 931 $ 489, 163 $ 6, 507, 903 $ 61, 297, 997
107 231
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Purpose Fund
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Miscellaneous
Total revenues
EXPENDITURES:

Current:

General government
City council
City manager
City clerk
City attorney
Personnel
Central services
Finance
Information technology
Total general government
Public safety
Administration
Animal Center
Community services
Operations
Support
Total public safety
Community development
Planning
Total community development
17, 440, 000 $ 18, 940, 000 $ 23,71, 143 $ 4, 331, 143
292, 306 292, 306 273, 823 ( 18, 483)
3, 860, 000 4, 160, 000 4, 997,18 837, 918
526, 494 573, 157 641, 286 68, 129
254, 964 218, 832 2, 508, 832 2,90, 000
100, 40 100, 40 135, 38 34, 958
413, 800 413, 800 265, 519 ( 148, 21)
22, 887, 964 24, 698, 495 32, 093, 879 7, 395,84
80, 160 311, 630 301, 462
1, 071, 421 1, 497, 177 1, 467, 619
449,1 527, 422 480, 297
852, 236 869, 552 861, 476
806,37 803, 743 801, 587
1, 836, 490 2,65,67 2, 316, 107
2, 003, 313 2, 147, 699 2, 147, 698
3, 549, 668 4, 667, 725 4,67, 269
10,68
29, 558
47, 125
8, 076
2, 156
50, 840)
1 200, 456
10, 649,16 13, 090, 215 12, 843, 515 246, 700
3, 617, 057 1, 861,90 1, 734, 479
891, 273 840, 684
1, 548,94 1,86, 585 1,81,47
7, 254, 754 8, 777, 051 8, 423, 028
2,56, 863 3,32, 713 3, 187, 361
127, 411
50,89
5, 438
354, 023
145, 32
14, 677, 268 16, 049, 512 15, 366, 699 682, 813
1, 018, 558 1, 278, 697 1, 076,39 202, 658
1, 018, 558 1, 278, 697 1, 076,39 202, 658
108
232
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Purpose Fund, Continued
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
Culture and leisure
Administration
Senior center
Recreation programs
Special events
Youth development
Sports
Facilitates and library
City hall
Building maintenance
Park and landscape maintenance
503, 015
164, 894
99, 554
239, 688
391, 904
356, 766
223, 852
418, 641
407, 725
1, 353, 673
505,05
194, 45
139, 254
289, 178
366, 178
356, 26
235, 962
470, 578
185, 947
135, 48
263, 172
321, 752
310,73
202, 160
34, 927
8, 498
3, 796
26, 006
44,26
45, 893
33, 802
Total culture and leisure 4, 159, 712 2, 086, 788 1, 889, 440 197, 348 Public works
Administration 798, 128 1, 005, 291 749, 375 255, 916
Building maintenance - 499, 825 423,50 76, 375
City hall - 618, 576 477, 186 141, 390
Parks and landscape maintenance - 2,47, 577 1,47, 636 1, 099, 941 Utility engineering 265,0 314,55 282, 168 32, 187
Total public works 1, 063, 378 4, 685,24 3, 079, 815 1, 605, 809 Capital outlay 330, 00 4, 155, 445 3, 140, 389 1, 015,56 Debt service:

Principal retirement 330, 00 330, 00 330, 00
Lease principal retirement 591,63 591,63
Interest and fiscal charges 49, 600 49, 598 49, 598 -
Total expenditures 32, 278, 132 42, 317, 442 38,67, 058 3, 950, 384

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers in
Transfers out
Lease and software subscription issuance
Proceeds from sale of capital assets
Total other financing sources (uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
9, 390, 168) ( 17, 618, 947) ( 6, 273, 179) 11, 345, 768 10, 618, 080 11, 286, 883 10, 597, 780
415, 530) ( 6, 295, 923) ( 6, 095, 903)
322, 790
8, 415
689, 103)
200, 020
322, 790
8, 415
10, 202, 550 4, 990,60 4, 833, 082 ( 157, 88)
812, 382 $ ( 12, 627, 987) ( 1, 440, 097) $ 11,87, 890
55, 741, 028
54, 300, 931
109
233
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Economic Development
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Use of money and property
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
23, 746 $ 23, 746
23, 746 23, 746
23, 746 23, 746
Net change in fund balances $
FUND BALANCES:

Beginning of year
End of year
23, 746 $ 23, 746
465,17
489, 163
110
234
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Measure C
For the year ended June 30, 2025
REVENUES:

Taxes and assessments
Use of money and property
Total revenues
EXPENDITURES:

Current:

General government
City council
Measure C
Total general government
Capital outlay
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
10, 300, 000 $ 10, 300, 000 $ 10, 089, 671 $ ( 210, 329) 50, 000 50, 000 360, 279 310, 279
10, 350, 000 10, 350, 000 10, 449, 950 99,50
850, 498 1, 027, 374 836, 955 190, 419
850, 498 1, 027, 374 836, 955 190, 419
27, 910 - 27, 910
850, 498 1, 055, 284 836, 955 218, 329
9, 499, 502 9, 294, 716 9, 612, 995 318, 279
6, 769, 880) ( 9, 215, 700) ( 8, 943, 664) 272, 036
6, 769, 880) ( 9, 215, 700) ( 8, 943, 664) 272, 036
2, 729, 622 $ 79, 016 669, 331 $ 590, 315
5, 838, 572
6, 507, 903
111
235
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Streets and Roads
For the year ended June 30, 2025
REVENUES:

Use of money and property
Total revenues
EXPENDITURES:

Current:

Capital outlay
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers in
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
Restatement
Beginning of year, as restated
End of year
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
1,09, 486 $ 1,09, 486
1,09, 486 1,09, 486
2, 006, 812 42, 573, 652 9, 327, 964 33, 245, 688
2, 006, 812 42, 573, 652 9, 327, 964 33, 245, 688
2, 006, 812) ( 42, 573, 652) ( 8, 218, 478) 34,55, 174
2, 006, 812 24, 793, 362 18, 561, 650 ( 6, 231, 712)
2, 006, 812 24, 793, 362 18, 561, 650 ( 6, 231, 712)
17, 780, 290) 10, 343, 172 $ 28, 123, 462
21, 831, 610
21, 831, 610
32, 174, 782
112
236
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General CIP Projects
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
Capital outlay
Total expenditures

REVENUES OVER (UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers in
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
860, 657 $ 860, 657
860, 657 860, 657
7, 195) 7, 195
3, 165, 000 27, 391, 099 9, 144,43 18, 246, 956
3, 165, 000 27, 391, 099 9, 136, 948 18, 254, 151
3, 165, 000) ( 27, 391, 099) ( 8, 276,91) 19,14, 808
3, 165, 000 8, 080, 478 6, 732, 447 ( 1, 348, 031)
3, 165, 000 8, 080, 478 6, 732, 447 ( 1, 348, 031)
19, 310, 621) ( 1, 543, 844) $ 17, 766,77
19, 648, 230
18,04, 386
113
237
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Park in Lieu
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Use of money and property
Total revenues
EXPENDITURES:

Current:

Capital outlay
170, 985 $ 170, 985
170, 985 170, 985
2, 739, 800 $ 2, 739,60 $ 40
Total expenditures 2, 739, 800 2, 739,60 40

REVENUES OVER ( UNDER)
EXPENDITURES 2, 739, 800) ( 2, 568, 775) 171, 025
Net change in fund balances $
FUND BALANCES:

Beginning of year
Restatement
Beginning of year, as restated
End of year
2, 739, 800) ( 2, 568, 775) $ 171, 025
3, 127, 221
3, 127, 221
558, 446
114
238
City of Lathrop
Non -Major Governmental Funds
Year Ended June 30, 2025

SPECIAL REVENUE FUNDS
These funds account for the proceeds derived from specific revenue sources that are legally restricted to expenditures for specified purposes.

BUILDING SAFETY & INSPECTION SPECIAL REVENUE FUND
This fund accounts for building safety and inspection permit fee revenue and activity.

DEVELOPMENT ENGINEERING SPECIAL REVENUE FUND
This fund accounts for the development engineering fee revenue and activity.

DEVELOPER DEPOSITS SPECIAL REVENUE FUND
This fund accounts for the activity relating to developer deposits for development projects ongoing within the City.

LANDSCAPE MAINTENANCE FUND
To account for revenues received and expenditures spent associated with specific park maintenance and operations of the Woodfield Landscape, Stonebridge Landscape and Mossdale Landscape Districts.

GAS TAX FUND
To account for revenues and expenditures apportioned to the City under the Streets and Highway Code, Sections 2105, 2106, 2107, and 2107. 5of the State of California. Expenditures for administration, maintenance, and construction must be street related.

TRAFFIC SAFETY FUND
To account for the fines and forfeitures received under Section 1463 of the Penal Code. These funds are restricted for the use of official traffic control devices and for some street construction purposes.

LOCAL STREET FUND
To account for revenues and expenditures for the City' s street division.

PUBLIC NUISANCE FUND
To account for revenues and expenditures for code enforcement activities.

MEASURE K FUND
To account for revenues generated from a 2 -cent sales tax for local street repairs. These funds are restricted for maintenance and construction on street -related projects.

TRANSIT LTF FUND
To account for local transportation funds received for transit purposes from the San Joaquin County Council of Governments.
115
239
City of Lathrop
Non -Major Governmental Funds
Year Ended June 30, 2025
SPECIAL REVENUE FUNDS, Continued

STREETS AND ROADS FUND
To account for local transportation funds received for street and road purposes from the San Joaquin County Council of Governments.

FEDERAL GRANT FUND
To account for federal grant expenditures and activity.

HISTORIC LATHROP LOAN PROGRAM ( HLLP) FUND
To account for building permit loans granted to Historic Lathrop residences.

STORM DRAIN FUND
To account for revenues and expenditures related to the maintenance and operations of storm drains and improvements within the created district.

STREET LIGHT FUND
To account for revenues and expenditures associated with the maintenance and operations of the street lighting within the area known as City Zone 2, which is in the City Wide Landscaping and Lighting Assessment District.

AB939 RECYCLING FUND
To account for the financial resources associated with the preparation, implementation, and administration of the City' sIntegrated Solid Waste Management Plan in accordance with AB939.

COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) FUND
To account for the annual federal grant that provides for development of viable urban communities.

SCHOLARSHIP FUND
To account for the revenues provided by businesses/ organizations to provide assistance with tuition of qualified parks and recreation participants.

COPS FUND
To account for local aw enforcement grants funded by the office of Community Oriented Policing Services ( COPS).

RTIF SAN JOAQUIN COUNTY FUND
To account for San Joaquin County' s
10% share of Regional Traffic Impact Fees collected from builders.

RTIF LATHROP LOCAL WEST FUND
To account for the City' s75% share of Regional Traffic Impact Fees collected from builders on the West side.

RTIF SJCOG FUND
To account for San Joaquin Council of Government' s15% share of Regional Traffic Impact Fees collected from builders.
116
240
City of Lathrop
Non -Major Governmental Funds
Year Ended June 30, 2025
SPECIAL REVENUE FUNDS, Continued

RTIF LATHROP LOCAL EAST FUND
To account for the City' s75% share of Regional Traffic Impact Fees collected from builders on the East side.

LATHROP MANTECA FIRE DISTRICT MEASURE C FUND
To account for revenues and expenditures associated with the sales tax collections specific from Measure C.

STATE GRANTS FUND
To account for revenues and expenditures associated with state grants.

NORTH LATHROP TRANSPORTATION CFF FUND
To account for capital facility fees collected for North Lathrop area.

CITYWIDE ECONOMIC DEVELOPMENT 20% CFF FUND
To account for capital facility fees, collected to support development both on and off the Stewart Tract, that will provide to the City and its citizens.

RIVER ISLANDS CFD 2013- 1 FUND
To account for revenue and expenditures related to the maintenance of the River Island community.

LATHROP LAND ACQUISITIONS FUND
To account for revenues and expenditures associated with the CLSP Community Facilities District 2006- 1.

URBAN LEVEL OF FLOOD PROTECTION RECLAMATION DISTRICT ( ULOP RD -17) LEVEE IMPACT FUND To account for capital facility fees collected for the Urban Level of Flood Protection plan in the Reclamation District RD) 17.

DEPARTMENT OF WATER RESOURCES ( DWR) GRANT - URBAN LEVEL OF FLOOD PROTECTION ( ULOP)

PROJECT FUND
To account for revenues and expenditures associated with the Urban Level of Flood Protection plan.

CLSP OFF - SITE ROADWAY IMPROVEMENTS FUND
To account for improvements in the Central Lathrop Development.

SOUTH LATHROP CFD 2019- 1 FUND
To account for revenue and expenditures related to the maintenance of South Lathrop.

CENTRAL LATHROP CFD 2019- FUND
To account for revenue and expenditures related to the maintenance of Central Lathrop. 117
241
City of Lathrop
Non -Major Governmental Funds
Year Ended June 30, 2025
SPECIAL REVENUE FUNDS, Continued
STEWART ECONOMIC DEVELOPMENT 80% CFF FUND
To account for capital facility fees, collected to support development both on and off the Stewart Tract, that will provide to the City and its citizens.

TOT TRUST FUND
To account for 1% of the 9% TOT from the City as a whole, to help finance regional infrastructure.

GATEWAY BUSINESS PARK
To account for the maintenance costs for the Lathrop Gateway Business Park and resulting Community Facilities District.

RIVER ISLANDS CFD 2023- 1 FUND
To account for revenue and expenditures related to the maintenance of the River Island community.

CAPITAL PROJECTS FUNDS
Capital Projects Funds are utilized to account for resources used for the acquisition and construction of capital facilities by the City, with the exception of those assets financed by proprietary funds.

STORM DRAIN FUND
To account for expenditures for storm drain capital projects. 118
242
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119
243
City of Lathrop
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
Special Revenue Funds
Building Safety & Developer Landscape
Inspection Engineering Developer Deposits Maintenance
ASSETS
Cash and investments
Receivables:

Accounts (net of allowance for uncollectibles)
Notes and loans
Accrued interest
Total assets

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable
Deposits payable
Total liabilities
22, 192,07 $ 17, 728, 410 $ 1, 978,35 $ 3, 289, 034
741, 807
49, 504 39,70 5, 069 9, 318
22,41, 611 $ 17, 767,80 $ 2, 725, 811 $ 3, 298, 352
228, 711 $
101, 893
53, 650 $ 256, 526 $
1, 749, 826
89, 639
330, 64 53, 650 2, 006, 352 89, 639
Deferred Inflows of Resources
Unavailable revenue - - 52, 137
Total deferred inflows of resources - 52, 137
Fund Balances:

Restricted
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
21, 911, 007 17, 714, 130 667, 322 3, 208, 713
21, 911, 007 17, 714, 130 667, 322 3, 208, 713
22,41, 611 $ 17, 767,80 $ 2, 725, 811 $ 3, 298, 352
120
244
Special Revenue Funds
Gas Tax Traffic Safety Local Street Public Nuisance Measure K 1, 495, 737 $
173, 095
3, 174
183, 364 $
1, 791
409
1, 688, 476 $
7, 430
3, 227
11, 459 $ 283, 951
220, 098
26 972
1, 672, 006 $ 185, 564 $ 1, 699, 133 $ 11, 485 $ 505, 021 100, 854 $
100, 854 - -
1, 672, 006 185, 564 1, 598, 279 11, 485 505, 021
1, 672, 006 185, 564 1, 598, 279 11, 485 505, 021
1, 672, 006 $ 185, 564 $ 1, 699, 133 $ 11, 485 $ 505, 021 245
City of Lathrop
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
Special Revenue Funds
Historic Lathrop
Loan Program
Transit LTF Streets and Roads Federal Grant ( HLLP)
ASSETS
Cash and investments
Receivables:

Accounts ( net of allowance for uncollectibles)
Notes and loans
Accrued interest
Total assets

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable
Deposits payable
Total liabilities
1, 792, 805 $ 1, 413, 046 $
54,76
4, 511 3, 198
551) $ 258,14
55, 317
20, 350
584
1, 797, 316 $ 1, 470, 820 $ 54, 766 $ 279, 148
29,47 $
29,47
Deferred Inflows of Resources
Unavailable revenue - 55, 317
Total deferred inflows of resources - 55, 317
Fund Balances:

Restricted
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
1, 768, 069 1, 470, 820 - 279, 148
551)
1, 768, 069 L470, 820 551) 279, 148
1, 797, 316 $ 1, 470, 820 $ 54, 766 $ 279, 148
122246
Special Revenue Funds
Storm Drain
Community
Development
Street Light AB939 Recycling Block Grant Scholarship Fund COPS Office of Traffic
and Safety
436, 713 $ 1, 419, 042 $ 2, 108, 435 $
589 28, 192
444 3, 059 4, 781
6, 422 $ 28, 324 $ 408, 66 $ 862
1, 566 12, 500 12, 728
14 67 1, 008
437, 157 $ 1, 422, 690 $ 2, 141, 408 $ 6, 436 $ 29, 957 $ 422, 194 $ 13, 590 31, 998 $ 137,6 $ 22, 762 $ - $ 4, 896 $
31, 998 137,6 22, 762 4, 896
12, 500
12, 500
405, 19 1, 285, 514 2, 118, 646 6, 436 29, 957 404, 798 13, 590 405, 19 1, 285, 514 2, 118, 646 6, 436 29, 957 404, 798 13, 590 437, 157 $ 1, 422, 690 $ 2, 141, 408 $ 6, 436 $ 29, 957 $ 422, 194 $ 13, 590 123
247
City of Lathrop
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
Special Revenue Funds
RTIF San Joaquin RTIF Lathrop Local RTIF Lathrop Local
County West RTIF SJCOG East
ASSETS
Cash and investments
Receivables:

Accounts ( net of allowance for uncollectibles)
Notes and loans
Accrued interest
Total assets

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable
Deposits payable
Total liabilities
Deferred Inflows of Resources
Unavailable revenue
Total deferred inflows of resources
Fund Balances:

Restricted
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
248, 963 $ 10, 840, 983 $ 373, 42 $ 1, 723, 886
458 23, 805 685 3, 894
249, 421 $ 10, 864, 788 $ 374, 117 $ 1, 727,80
249, 630 $ 8, 233 $ 374, 430 $
249, 630 8, 233 374, 430
10, 856, 555 - 1, 727,80
209) - ( 313)
209) 10, 856, 555 313) 1, 727,80
249, 421 $ 10, 864, 788 $ 374, 117 $ 1, 727,80
124
248
Special Revenue Funds
North Lathrop Citywide Economic River Islands CFD Lathrop Land LMFD Measure C State Grants Transportation Dev Fee 20% 2013- 1 Acquisitions 1, 087, 851 $
736
9 $ 704 $ 3,77, 077 $
186, 908
2 7, 556
168, 868 $
1, 561, 924
2, 691
2, 013
1, 088, 587 $ 186, 917 $ 706 $ 3,84, 633 $ 1, 733, 483 $ 2, 013 800 $ ( 5)
800 5)
114, 550 1, 561, 924
114, 550 1, 561, 924
1, 088, 587 72, 367 706 3,84, 633 170, 759 2, 018
1, 088, 587 72, 367 706 3,84, 633 170, 759 2, 018
1, 088, 587 $ 186, 917 $ 706 $ 3,84, 633 $ 1, 733, 483 $ 2, 013 125
249
City of Lathrop
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
Special Revenue Funds
CLSP Off -Site
ULOP RD -17 Levee DWR Grant - ULOP Roadway South Lathrop CFD Impact Project Improvement 20194
ASSETS
Cash and investments
Receivables:

Accounts ( net of allowance for uncollectibles)
Notes and loans
Accrued interest
Total assets

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable
Deposits payable
Total liabilities 538, 960
537,83 $ 1) $ 357, 440 $ 1, 847, 707
945 - 806 4, 115
538,28 $
538, 960 $
1) $ 358, 246 $ 1, 851,22
184 $ 25, 907
Deferred Inflows of Resources
Unavailable revenue
Total deferred inflows of resources
Fund Balances:

Restricted
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
184 25, 907
432)
432)
538,28 $
358, 062 1, 825, 915
1) - -
1) 358, 062 1, 825, 915
1) $ 358, 246 $ 1, 851,22
126
250
Special Revenue Funds
Capital
Projects Fund
Central Lathrop
CFD 2019-
Stewart Economic
Dev Fee 80% TOT Trust
Gateway Business River Islands CFD 2023 -
Park 1 Storm Drain
1, 899, 201 $ 104,0 $ 1, 421, 648 $ 451, 022 $
4, 092 343 3, 218 977
45, 807 $ 1, 001, 140
56 3, 957
1, 903, 293 $ 104, 483 $ 1, 424, 866 $ 451, 999 $ 45, 863 $ 1, 005,97 89,45 $ - $
84, 000
892 $ 63 $ 52, 979
89,45 84, 000 892 63 52, 979
1, 813, 448 20, 483 1, 424, 866 451, 107 45, 800 952, 118 1, 813, 448 20, 483 1, 424, 866 451, 107 45, 800 952, 118 1, 903, 293 $ 104, 483 $ 1, 424, 866 $ 451, 999 $ 45, 863 $ 1, 005,97 127
251
City of Lathrop
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
Total Nonmajor
Governmental
Funds
ASSETS
Cash and investments
Receivables:

Accounts ( net of allowance for uncollectibles)
Notes and loans
Accrued interest
Total assets

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable
Deposits payable
Total liabilities
82, 212, 944
3, 058, 521
20, 350
187, 01
85, 478, 886
2,97, 377
1, 935, 719
4, 233, 096
Deferred Inflows of Resources
Unavailable revenue 1, 796, 428
Total deferred inflows of resources 1, 796, 428
Fund Balances:

Restricted
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
79, 450, 868
1, 506)
79, 449, 362
85, 478, 886
128
252
This page intentionally left blank.
129
253
City of Lathrop
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2025
Special Revenue Funds
Building Safety & Developer
Developer Projects Inspection Engineering Developer Deposits REVENUES:

Taxes and assessments
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Developer participation
Miscellaneous
Total revenues
EXPENDITURES:

Current:

Public safety
Community development
Culture and leisure
Public works
Capital outlay
Debt service:

Interest and fiscal charges
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers in
Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
Restatement
Beginning of year, as restated
End of year
6,21, 877 4, 168,67
986, 013 825, 21
5, 891 220, 966
93, 536
444, 007
7, 613, 781 5, 214, 384 537,43
2, 445,82
149, 808
429
2, 742, 954
56,62
507, 236
159, 854
2, 595, 290 2, 799, 945 667, 090
5, 018, 491 2, 414,39 ( 129, 547)
498, 620)
498, 620)
4, 519, 871 2, 414,39 129, 547)
630,95 17, 391, 136 15, 299, 691 796, 89
630,95)
17, 391, 136 15, 299, 691 796, 89
21, 911, 007 $ 17, 714, 130 $ 667, 322
130
254
Special Revenue Funds
Landscape
Maintenance Gas Tax Traffic Safety Local Street Public Nuisance Measure K 3, 577, 143 $
162, 455
2, 041, 336
68, 922 8, 340
24, 608
47, 207 557
18, 992 -
1, 081, 159
34,00
3, 739, 598 2, 110, 258 32, 948 66, 199 557 1,15, 49
1,87, 978
11, 654
1,28,70 -
1,99, 632 1,28,70 - -
2, 539, 966 2, 110, 258 32, 948 ( 1, 061, 971) 557 1,15, 459 92, 210
1, 646,15) ( 1, 074, 640)
1, 965, 500 -
2, 440) ( 318, 590) 1,31, 288)
1, 554, 405) ( 1, 074, 640) 2, 440) 1, 646, 910 1,31, 288) 985, 561 1, 035, 618
2,23, 152 636, 388
2,23, 152 636, 388
30, 508 584, 939
155, 06 1, 013, 340
155, 06 1, 013, 340
557 ( 15, 829)
10, 928 520, 850
10, 928 520, 850
3, 208, 713 $ 1, 672, 006 $ 185, 564 $ 1, 598, 279 $ 11, 485 $ 505, 021 131
255
City of Lathrop
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2025
Special Revenue Funds
Historic Lathrop
Loan Program
Transit LTF Streets and Roads Federal Grant ( HLLP)
REVENUES:

Taxes and assessments
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Developer participation
Miscellaneous
Total revenues
EXPENDITURES:
105, 693
1,24,09
62, 708
3, 131, 408
604) 12, 580
105, 693 1,86, 817 3, 130, 804 12, 580
Current:

Public safety
Community development -
Culture and leisure
Public works 439, 889
Capital outlay
Debt service:

Interest and fiscal charges
Total expenditures 439, 889 -

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers in
Transfers out ( 218, 802) ( 185, 391) ( 3, 131, 408) -
Total other financing sources ( uses) ( 218, 802) ( 185, 391) ( 3, 131, 408) - 334, 196) 1,86, 817 3, 130, 804 12, 580
Net change in fund balances ( 552, 998) 1, 001, 426 ( 604) 12, 580 FUND BALANCES:

Beginning of year
Restatement
Beginning of year, as restated
End of year
2, 321, 067 469, 394 53 266, 58
2, 321, 067 469, 34 53 266, 58
1, 768, 069 $ 1, 470, 820 $ ( 551) $ 279, 148
132
256
Special Revenue Funds
Storm Drain
Community
Development
Street Light AB939 Recycling Block Grant Scholarship Fund COPS Office of Traffic
and Safety
13, 866
352, 590
351, 06 $
27, 580
67, 556 98, 260
1, 236, 391
4, 508
3, 136
3, 070
1, 390
2, 750
182,63
22, 348
29, 049
316
366, 456 1, 308, 455 476, 856 3, 136 7, 210 204, 511 29, 365 275, 614 -
183, 901
418, 918 1, 000,37 -
79, 279 3, 832
418, 918 1, 275, 651 183, 901 79, 279 3, 832
52, 462) 32, 804 292, 955 3, 136 7, 210 125, 232 25, 533 228, 520 34, 800
140, 283)
88, 237
186, 28) ( 36, 550) 105, 78) ( 2, 181) 100, 00) ( 23, 159) 151, 468) ( 36, 550) 105, 78) ( 2, 181) ( 100, 00) ( 23, 159) 35, 775
369,84
118, 664) 256, 405
1, 404, 178 1, 862, 241
369,84 1, 404, 178 1, 862, 241
102, 62) 5, 029
109, 058 24, 928
109, 058 24, 928
25,32 2, 374
379, 566 11, 216
379, 566 11, 216
405, 19 $ 1, 285, 514 $ 2, 118, 646 $ 6, 436 $ 29, 957 $ 404, 798 $ 13, 590 133
257
City of Lathrop
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2025
Special Revenue Funds
RTIF San Joaquin RTIF Lathrop Local RTIF Lathrop Local
County West RTIF SJCOG East
REVENUES:

Taxes and assessments
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Developer participation
Miscellaneous
Total revenues
EXPENDITURES:

Current:

Public safety
Community development
Culture and leisure
Public works
Capital outlay
Debt service:

Interest and fiscal charges
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers in
Transfers out
445, 964 $ 3, 211, 140 $ 668, 947 $
8, 632 734, 863 12, 933
37,15
133,17
454, 596 3, 946, 003 681, 880 170, 432
453, 879 - 680, 84
453, 879 - 680, 84
717 3, 946, 003 1, 076 170, 432
7,35, 185)
Total other financing sources (uses) ( 7,35, 185)
Net change in fund balances
FUND BALANCES:

Beginning of year
Restatement
Beginning of year, as restated
End of year
717 ( 3, 789, 182)
926) 14, 645, 737
926) 14, 645, 737
1, 287, 784)
1, 287, 784)
1, 076 ( 1,17, 352)
1, 389) 2, 845, 132
1, 389) 2, 845, 132
209) $ 10, 856, 555 $ 313) $ 1, 727,80
134
258
Special Revenue Funds
North Lathrop Citywide Economic River Islands CFD Lathrop Land LMFD Measure C State Grants Transportation Dev Fee 20% 2013- 1 Acquisitions 19,74
280, 049
291, 000 $ 1, 248, 893 $
66) 56 195,24 30, 609 127
19,74 279, 983 56 486, 124 1, 279, 502 127
3, 993,63 -
28,85
3, 993,63 28,85
3, 974, 789) 279, 983 56 486, 124 1, 251,17 127
4, 035, 869
266, 415)
4, 035, 869 ( 266, 415)
61, 080 13, 568
1, 027, 507 58, 799
1, 027, 507 58, 799
1, 000,0) ( 1, 226, 402)
1, 000,0) ( 1, 226, 402)
56 ( 513, 876) 24, 815
650 3, 898, 509 145, 944
650 3, 898, 509 145, 944
127
1, 891
1, 891
1, 088, 587 $ 72, 367 $ 706 $ 3,84, 633 $ 170, 759 $ 2, 018 135 259
City of Lathrop
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2025
Special Revenue Funds
CLSP Off -Site
ULOP RD -17 Levee DWR Grant - ULOP Roadway South Lathrop CFD Impact Project Improvement 2019- 1
REVENUES:

Taxes and assessments
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Developer participation
Miscellaneous
Total revenues
EXPENDITURES:

Current:

Public safety
Community development
Culture and leisure
Public works
Capital outlay
Debt service:

Interest and fiscal charges
Total expenditures

REVENUES OVER (UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers in
Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
Restatement
Beginning of year, as restated
End of year
1, 749, 314 $ - $ 93, 603 $ 450, 00
91, 498
2, 584 ( 4) 14, 963 87, 259
1, 751, 898 91, 494 108, 566 537, 259
1, 749, 315 238, 072
1, 749, 315 - 238, 072
2, 583 91, 494 108, 566 299, 187
130,22) ( 181, 968)
130,22) ( 181, 968)
2, 583 ( 38, 628) 108, 566 117, 219
3, 015) 38, 627 249, 46 1, 708, 696
3, 015) 38, 627 249, 46 1, 708, 696
432) $ ( 1) $ 358, 062 $ 1, 825, 915
136
260
Special Revenue Funds Capital Project Funds
Central Lathrop Stewart Economic Gateway Business River Islands CFD CFD 2019- Dev Fee 80% TOT Trust Park 2023- 1 Streets and Roads Storm Drain 2, 051, 360 $
59, 137
9, 098
145, 904 $ 49, 085 $ - $
5, 689 69, 168 17, 617 416 54, 015
2, 119, 595 5, 689 69, 168 163, 521 49, 501 - 54, 015
1, 051, 386 25, 797 3, 701 186, 908
1, 051, 386 25, 797 3, 701 - 186, 908
1, 068, 209 5, 689 69, 168 137, 724 45, 800 - ( 132, 893) 202, 739) - - ( 2, 840)
202, 739) - - ( 2, 840)
865, 470 5, 689 69, 168 134, 884
947,8 14, 794 1, 355, 698 316, 223
947,8 14, 794 1, 355, 698 316, 223
70, 000
70, 000
45, 800 ( 62, 893)
21, 831, 610
21, 831, 610)
1, 015,11
1, 015,11
1, 813, 448 $ 20, 483 $ 1, 424, 866 $ 451, 107 $ 45, 800 $ 952, 118 137
261
City of Lathrop
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2025
Capital Project
Funds
REVENUES:

Taxes and assessments
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Developer participation
Miscellaneous
Park in Lieu
Total Nonmajor
Governmental
Funds
14, 370, 684
27, 580
7, 963, 841
10, 790, 044
4, 059, 243
1, 613, 589
444, 007
262,05
Total revenues - 39, 531, 193
EXPENDITURES:

Current:

Public safety 4, 352, 688
Community development
429
Culture and leisure 183, 901
Public works 14, 288, 811
Capital outlay 218, 024
Debt service:

Interest and fiscal charges 159, 854
Total expenditures 19, 203, 707

REVENUES OVER ( UNDER)
EXPENDITURES 20, 327, 486
OTHER FINANCING SOURCES ( USES):

Transfers in
Transfers out
6, 426, 899
20, 835, 448)
Total other financing sources ( uses) - ( 14, 408, 549) Net change in fund balances - 5, 918,37
FUND BALANCES:

Beginning of year
Restatement
Beginning of year, as restated
End of year
3, 127, 221 99, 119, 951
3, 127, 221) ( 25, 589,26)
73, 530, 425
79, 449, 362
262
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Building Safety & Inspection
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Licenses and permits
Charges for services
Use of money and property
Miscellaneous
Total revenues
EXPENDITURES:

Current:

Public works
Capital outlay
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources (uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
2, 877, 064 $ 2, 877, 064 $ - $ ( 2, 877, 064)
3, 143,89 3, 143,89 6,21, 877 3, 478, 688
986, 013 986, 013
5, 891 5, 891
6, 020, 253 6, 020, 253 7, 613, 781 1, 593,28
3, 408, 806 4, 177, 735 2, 445,82 1, 732, 253
174, 81 149, 808 25, 033
3, 408, 806 4, 352, 576 2, 595, 290 1, 757, 286
2, 611, 447 1, 667,77 5, 018, 491 3,50, 814
633, 20) 498, 620) ( 498, 620)
633, 20) 498, 620) ( 498, 620)
1, 978, 217 $ 1,69, 057 4, 519, 871 $ 3,50, 814
17, 391, 136
21, 911, 007
139
263
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Developer Engineering
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Charges for services
Use of money and property
Miscellaneous
Total revenues
EXPENDITURES:

Current:

Community development
Public works
Capital outlay
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
Net change in fund balances
FUND BALANCES:
2, 460,13 $ 2, 802, 451 $ 4, 168,67 $ 1, 365, 716
825, 21 825, 21
83, 639 220, 966 137, 327
2, 460,13 2, 886, 090 5, 214, 384 2, 328, 294
3, 000 3, 000 429
2, 605, 183 3, 611, 961 2, 742, 954
60, 000 56,62
2, 571
869, 007
3, 438
2, 608, 183 3, 674, 961 2, 799, 945 875, 016
147, 70) ( 788, 871) 2, 414,39 3, 203, 310
147, 70) $ ( 788, 871) 2, 414,39 $ 3, 203, 310
Beginning of year
15, 299, 691
End of year
17, 714, 130
140
264
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Developer Deposits
For the year ended June 30, 2025
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
REVENUES:

Use of money and property $
Developer participation
Total revenues
EXPENDITURES:

Current:

Public works
Debt service:

Interest and fiscal charges
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
19,00 $
331, 900
19,00 $
583, 400
93, 536 $
444, 007
74, 436
139, 33)
351, 000 602, 500 537,43 ( 64, 957)
191, 000 544, 304 507, 236 37, 068
160, 000 160, 00 159, 854 146
351, 000 704, 304 667, 090 37, 068
101, 804) ( 129, 547) ( 27, 743)
Net change in fund balances $
FUND BALANCES:
101, 804) ( 129, 547) $ ( 27, 743)
Beginning of year
796, 89
End of year
667, 322
141
265
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Landscape Maintenance
For the year ended June 30, 2025
REVENUES:

Taxes and assessments
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
Capital outlay
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers in
Transfers out 1, 741, 180)
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
3, 460, 227 $ 3, 460, 227 $ 3, 577, 143 $ 116, 916
6, 500 6, 500 162, 455 155, 95
3, 466, 727 3, 466, 727 3, 739, 598 272, 871
1, 317, 603 1, 492, 516 1,87, 978 304, 538
32, 001 11, 654 20, 347
1, 317, 603 1, 524,17 1,99, 632 324, 885
2, 149,24 1, 942, 210 2, 539, 966 597, 756
92, 210 92, 210 92, 210
1, 646,15) ( 1, 646,15)
Total other financing sources ( uses) ( 1, 648, 970) ( 1, 554, 405) ( 1, 554, 405) 500, 154 $ 387, 805 985, 561 $ 597, 756
2,23, 152
3, 208, 713
142
266
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Gas Tax
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Intergovernmental
Use of money and property
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
1, 667,44 $ 1, 667,44 $ 2, 041, 336 $ 373, 692
68, 922 68, 922
1, 667,44 1, 667,44 2, 110, 258 442, 614
1, 667,44 1, 667,44 2, 110, 258 442, 614
1, 000, 60) 1, 074, 60) ( 1, 074, 640)
1, 000, 60) 1, 074, 640) ( 1, 074, 60)
667, 044 $ 593, 004 1, 035, 618 $ 442, 614
636, 388
1, 672, 006
143
267
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Traffic Safety
For the year ended June 30, 2025
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
REVENUES:

Use of money and property $ - $ - $
8, 340 $ 8, 340
Fines and forfeitures 30, 000 30, 000 24, 608 ( 5, 392) Total revenues
EXPENDITURES:

Current:

Public safety
Capital outlay
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
30, 000 30, 000 32, 948 2, 948
28, 350 28, 350
30, 000 30, 000
28, 350
30, 000
58, 350 58, 350 58, 350
28, 350) ( 28, 350) 32, 948 61, 298
2, 460) ( 2, 440) 2, 440)
2, 460) ( 2, 440)
30, 810) $ ( 30, 790)
2, 440)
30, 508 $ 61, 298
155, 06
185, 564
144
268
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Local Street
For the year ended June 30, 2025
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
REVENUES:

Use of money and property $
Miscellaneous
Total revenues
EXPENDITURES:

Current:

Public works
Capital outlay
Total expenditures

REVENUES OVER (UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers in
Transfers out
47, 207 $
18, 992
47, 207
18, 992
66, 199 66, 199
1, 451, 323 1, 951, 492 1,28,70
10, 000 29, 700 -
823, 322
29, 700
1, 461, 323 1, 981, 192 1,28,70 853, 022
1, 461, 323) ( 1, 981, 192) ( 1, 061, 971) 919, 221
1, 850, 000 1, 965, 500 1, 965, 500
245, 800) ( 318, 590) ( 318, 590) -
Total other financing sources ( uses) 1, 604, 200 1, 646, 910 1, 646, 910 142, 877 $ ( 334, 282) 584, 939 $ 919, 221
1, 013, 340
1, 598, 279
145
269
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Public Nuisance
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Use of money and property
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
557 $ 557
557 557
557 557
Net change in fund balances $
FUND BALANCES:

Beginning of year
557 $
10, 928
End of year $
11, 485
557
146
270
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Measure K
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Intergovernmental
Use of money and property
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
901, 80 $ 1, 033,98 $ 1, 081, 159 $ 48, 061
34,00 34,00
901, 80 1, 033,98 1,15, 459 82, 361
901, 80 1, 033,98 1,15, 459 82, 361
1, 000,00) ( 1,56, 796) ( 1,31, 288) 25, 508
1, 000,00) ( 1,56, 796) ( 1,31, 288) 25, 508
98, 190) $ ( 123, 698) 15, 829) $ 107, 869
520, 850
505, 021
147
271
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Transit LTF
For the year ended June 30, 2025
REVENUES:

Intergovernmental
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources (uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
1, 018, 735 $ 1, 018, 735 $ - $ ( 1, 018, 735)
105, 693 105, 693
1, 018, 735 1, 018, 735 105, 693 ( 913, 042)
1,25,61 439, 889 685, 272
1,25,61 439, 889 685, 272
1, 018, 735 ( 106, 426) ( 334, 196) ( 227, 70)
200, 00) ( 661, 598) ( 218, 802) 442, 796
200, 00) ( 661, 598) ( 218, 802) 442, 796
818, 735 $ ( 768, 024) ( 552, 998) $ 215, 026
2, 321, 067
1, 768, 069
148
272
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Streets and Roads
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Intergovernmental
Use of money and property
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
1, 066, 678 $ 1, 266, 678 $ 1,24,09 $ ( 142, 569)
62, 708 62, 708
1, 066, 678 1, 266, 678 1,86, 817 ( 79, 861)
1, 066, 678 1, 266, 678 1,86, 817 ( 79, 861)
1, 682, 906) ( 185, 391) 1, 497, 515
1, 682, 906) ( 185, 391) 1, 497, 515
1, 066, 678 $ ( 416, 228) 1, 001, 426 $ 1, 417, 654
469, 34
1, 470, 820
149
273
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Federal Grant
For the year ended June 30, 2025
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
REVENUES:

Intergovernmental $
Use of money and property
Total revenues

REVENUES OVER (UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
7, 276, 659 $ 3, 131, 408 $ ( 4, 145, 251)
604) ( 604)
7, 276, 659 3, 130, 804 ( 4, 145, 855)
7, 276, 659 3, 130, 804 ( 4, 145, 85)
7, 276, 659) 3, 131, 408) 4, 145, 251
7, 276, 659) ( 3, 131, 408) 4, 145, 251
604) $ ( 604)
53 551)
150
274
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Historic Lathrop Loan Program (HLLP)
For the year ended June 30, 2025
REVENUES:

Use of money and property
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
12, 580 $ 12, 580
12, 580 12, 580
12, 580 12, 580
Net change in fund balances $
FUND BALANCES:

Beginning of year
End of year
12, 580 $ 12, 580
266, 58
279, 148
151
275
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Storm Drain
For the year ended June 30, 2025
REVENUES:

Use of money and property
Fines and forfeitures
Total revenues
EXPENDITURES:

Current:

Public works
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
13, 866 $
352, 503 352, 503 352, 590
13, 866
87 352, 503 352, 503 366, 456 13, 953
496, 66 599, 918 418, 918 181, 000
496, 66 599, 918 418, 918 181, 000
144,63) ( 247, 415) 52, 462) 194, 953
OTHER FINANCING SOURCES ( USES):

Transfers in 228, 520
Transfers out ( 80, 480)
228, 520
140, 283)
228, 520
140, 283)
Total other financing sources ( uses) 148, 040 88, 237
Net change in fund balances $ 3, 877 $
FUND BALANCES:

Beginning of year
End of year
159,78)
88, 237
35, 775 $ 194, 953
369,84
405, 19
152
276
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Street Light
For the year ended June 30, 2025
REVENUES:

Use of money and property
Fines and forfeitures
Miscellaneous
Total revenues
EXPENDITURES:

Current:

Public safety
Public works
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers in
Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
67, 556 $ 67, 556
1, 236, 450 1, 236, 450 1, 236, 391 ( 59)
4, 508 4, 508
1, 236, 450 1, 236, 450 1, 308, 455 72, 005
199, 544 289, 156 275, 614 13, 542
941, 403 1,66, 241 1, 000,37 166, 204
1,40, 947 1, 455, 397 1, 275, 651 179, 746
95, 503 ( 218, 947) 32, 804 251, 751
34, 800
183, 210)
34, 800
186, 28)
34, 800
186, 268)
148, 410) 151, 468) 151, 468)
52, 907) $ ( 370, 415) 118, 664) $ 251, 751
1, 404, 178
1, 285, 514
153
277
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual AB939 Recycling
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments
Licenses and permits
Use of money and property
Total revenues
EXPENDITURES:

Current:

Culture and leisure
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances $ 30,53 $ ( 98, 201)
170, 000 $ 170, 000 $ 351, 06 $ 181, 06
27, 580 27, 580
98, 260 98, 260
170, 00 170, 00 476, 856 306, 856
108, 967 231, 651 183, 901 47, 750
108, 967 231, 651 183, 901 47, 750
61, 033 ( 61, 651) 292, 955 354, 606
30, 680) ( 36, 550) 36, 550)
30, 680) ( 36, 550) 36, 550)
FUND BALANCES:

Beginning of year
End of year
256, 405 $ 354, 606
1, 862, 241
2, 118, 646
154
278
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Community Development Block Grant
For the year ended June 30, 2025
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
REVENUES:

Intergovernmental $
Use of money and property
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
194, 719 $ - $ ( 194, 719)
3, 136 3, 136
194, 719 3, 136 ( 191, 583)
194, 719 3, 136 ( 191, 583)
194, 719) ( 105, 78) 88, 961
194, 719) ( 105, 78) 88, 961
102, 62) $ ( 102, 62)
109, 058
6, 436
155
279
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Scholarship Fund
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Intergovernmental
Use of money and property
Miscellaneous
Total revenues

REVENUES OVER (UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
5, 000 $ 10, 846 $ 3, 070 $ ( 7,76)
1, 390 1, 390
2, 750 2, 750
5, 000 10, 846 7, 210 ( 3, 636)
5, 000 10, 846 7, 210 ( 3, 636)
5, 000) 10, 846) 2, 181) 8, 665
5, 000) 10, 846) 2, 181) 8, 665
5, 029 $
24, 928
29, 957
5, 029
156
280
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual COPS
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Intergovernmental
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public safety
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
150, 00 $ 194, 664 $ 182,63 $ ( 12, 501)
22, 348 22, 348
150, 000 194, 664 204, 511 9, 847
100, 00 129, 007 79, 279 49, 728
100, 00 129, 007 79, 279 49, 728
50, 000 65,57 125, 232 59,75
100, 00) ( 100, 00) ( 100, 00)
100, 000) ( 100, 00) ( 100, 00)
50, 000) $ ( 34,43) 25,32 $
379, 566
404, 798
59,75
157
281
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Office of Traffic and Safety
For the year ended June 30, 2025
REVENUES:

Intergovernmental
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public safety
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers out
Total other financing sources (uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
78, 000 $ 81, 500 $ 29, 049 $ ( 52, 451)
316 316
78, 000 81, 500 29, 365 ( 52, 135)
26, 150 3, 832 22, 318
26, 150 3, 832 22, 318
78, 000 55, 350 25, 533 ( 29, 817)
78, 000) 55, 350) 23, 159) 32, 191
78, 000) 55, 350) 23, 159) 32, 191
2, 374 $
11, 216
13, 590
2, 374
158
282
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual RTIF San Joaquin County
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
Total expenditures

REVENUES OVER (UNDER)

EXPENDITURES
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
506, 121 $ 506, 121 $ 445, 964 $ ( 60, 157)
8, 632 8, 632
506, 121 506, 121 454, 596 ( 51,25)
506, 121 506, 121 453, 879 52, 242
506, 121 506, 121 453, 879 52, 242
717 717
717 $ 717
926)
209)
159 283
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual RTIF Lathrop Local West
For the year ended June 30, 2025
REVENUES:

Taxes and assessments
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
2, 637,68 $ 2, 637,68 $ 3, 211, 140 $ 573, 472
734, 863 734, 863
2, 637,68 2, 637,68 3, 946, 003 1, 308,35
6, 000 6, 000 - 6, 000
Total expenditures 6, 000 6, 000 - 6, 000

REVENUES OVER (UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers out
Total other financing sources (uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
2, 631,68 2, 631,68 3, 946, 003 1, 314,35
503, 406) 7,35, 185) ( 7,35, 185)
503, 406) 7,35, 185) ( 7,35, 185)
2, 128, 262 $ ( 5, 103, 517) ( 3, 789, 182) $ 1, 314,35 14, 645, 737
10, 856, 555
160
284
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual

RTIF SJCOG
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
759, 181 $ 759, 181 $ 668, 947 $ ( 90, 234)
12, 933 12, 933
759, 181 759, 181 681, 880 ( 77, 301)
759, 181 759, 181 680, 84 78, 377
759, 181 759, 181 680, 84 78, 377
1, 076 1, 076
1, 076 $ 1, 076
1, 389)
313)
161
285
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual RTIF Lathrop Local East
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
1, 082, 318 $ 1, 082, 318 $ 37,15 $ ( 1, 045,03)
133,17 133,17
1, 082, 318 1, 082, 318 170, 432 ( 911, 886)
5, 000 5, 000 5, 000
Total expenditures 5, 000

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
5, 000 5, 000
1, 077, 318 1, 077, 318 170, 432 ( 906, 886)
1, 287, 784) ( 1, 287, 784)
1, 287, 784) ( 1, 287, 784)
1, 077, 318 $ ( 210, 466) ( 1,17, 352) $ ( 906, 886)
2, 845, 132
1, 727,80
162
286
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual LMFD Measure C
For the year ended June 30, 2025
REVENUES:

Use of money and property
Total revenues
EXPENDITURES:

Current:

Public safety
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers in
Total other financing sources ( uses)
Net change in fund balances
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
19,74 $ 19,74
19,74 19,74
4, 120, 000 4, 120, 000 3, 993,63 126, 037
4, 120, 000 4, 120, 000 3, 993,63 126, 037
4, 120, 000) ( 4, 120, 000) ( 3, 974, 789) 145, 211
4, 120, 000 4, 120, 000 4, 035, 869 ( 84, 131)
4, 120, 00 4, 120, 000 4, 035, 869 ( 84, 131)
61, 080 $ 61, 080
FUND BALANCES:

Beginning of year
1, 027, 507
End of year
1, 088, 587
163
287
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual State Grants
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Intergovernmental
Use of money and property
Total revenues

REVENUES OVER (UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
3, 000,00 $ 1, 022, 557 $ 280, 049 $ ( 742, 508)
66) ( 66)
3, 000,00 1, 022, 557 279, 983 ( 742, 574)
3, 000,00 1, 022, 557 279, 983 ( 742, 574)
3, 000,00) ( 941, 281) ( 266, 415) 674, 866
3, 000,00) ( 941, 281) ( 266, 415) 674, 866
81, 276 13, 568 $ ( 67, 708)
58, 799
72, 367
164
288
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual North Lathrop Transportation
For the year ended June 30, 2025
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
REVENUES:

Use of money and property $
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
56 $
56 56
56 56 56
56 $ 56
650
706
165
289
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Citywide Economic Dev Fee 20%
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments
Use of money and property
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources (uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
340, 00 $ 340, 00 $ 291, 000 $ ( 49, 000)
195,24 195,24
340, 00 340, 00 486, 124 146,24
340, 00 340, 00 486, 124 146,24
1, 000,0) ( 1, 000,00)
1, 000,0) ( 1, 000,00)
340, 00 $ ( 660, 00) 513, 876) $ 146,24
3, 898, 509
3,84, 633
166
290
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual River Islands CFD 2013- 1
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments
Use of money and property
Miscellaneous
Total revenues
EXPENDITURES:

Current:

Public works
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances $ ( 2, 340) $ ( 3, 950)
1,82, 800 $ 1,82, 800 $ 1, 248, 893 $ 66, 093
30, 609 30, 609
120, 00 120, 00 ( 120, 00)
1, 302, 800 1, 302, 800 1, 279, 502 ( 23,98)
19, 800 20, 300 28,85 ( 7, 985)
19, 800 20, 300 28,85 ( 7, 985)
1, 283, 000 1, 282, 500 1, 251,17 ( 31, 283)
1, 285, 340) ( 1, 286, 450) ( 1, 226, 402) 60, 048
1, 285, 340) ( 1, 286, 450) ( 1, 226, 402) 60, 048
FUND BALANCES:

Beginning of year
End of year
24, 815 $ 28, 765
145, 944
170, 759
167
291
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Lathrop Land Acquisitions
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Use of money and property
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
127 $ 127
127 127
127 127
127 $
1, 891
2, 018
127
168 292
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual ULOP RD -17 Levee Impact
For the year ended June 30, 2025
REVENUES:

Taxes and assessments
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
2,34, 863 $ 2,34, 863 $ 1, 749, 314 $ ( 485, 549)
2, 584 2, 584
2,34, 863 2,34, 863 1, 751, 898 ( 482, 965)
1, 754, 003 1, 749, 315 4, 688
1, 754, 003 1, 749, 315 4, 688
2,34, 863 480, 860 2, 583 ( 478, 277)
2,34, 863 $ 480, 860 2, 583 $ ( 478, 277)
3, 015)
432)
169
293
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual DWR Grant - ULOP Project
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Intergovernmental $
Use of money and property
Total revenues

REVENUES OVER (UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources ( uses)
3, 972, 015 $ 91, 498 $ ( 3, 880, 517)
4) ( 4)
3, 972, 015 91, 494 ( 3, 880, 521)
3, 972, 015 91, 494 ( 3, 880, 521)
3, 972, 015) ( 130, 122) 3, 841,93
Net change in fund balances $
FUND BALANCES:

Beginning of year
End of year
3, 972, 015) ( 130,22) 3, 841,93
38, 628) $ ( 38, 628)
38, 627
1)
170
294
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual CLSP Off -Site Roadway Improvement
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments
Use of money and property
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
144, 963 $ 144, 963 $ 93, 603 $ ( 51, 360)
14, 963 14, 963
144, 963 144, 963 108, 566 ( 36, 397)
144, 963 144, 963 108, 566 ( 36, 397)
144, 963 $ 144, 963 108, 566 $ ( 36, 397)
249, 46
358, 062
171
295
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual South Lathrop CFD 2019- 1
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
Capital outlay
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
581, 280 $ 581, 280 $ 450, 00 $ ( 131, 280)
87, 259 87, 259
581, 280 581, 280 537, 259 ( 44, 021)
365, 712 382, 993 238, 072 144, 921
50, 000 50, 000 50, 000
415, 712 432, 993 238, 072 194, 921
165, 568 148, 27 299, 187 150, 90
64, 230) 181, 968) 181, 968)
64, 230) 181, 968) 181, 968)
101, 338 $ ( 33, 681) 117, 219 $ 150, 90
1, 708, 696
1, 825, 915
172
296
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Central Lathrop CFD 2019-
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments
Use of money and property
Miscellaneous
Total revenues
EXPENDITURES:

Current:

Public works
Total expenditures

REVENUES OVER (UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
2, 488, 380 $ 2, 488, 30 $ 2, 051, 360 $ ( 437, 020)
59, 137 59, 137
9, 098 9, 098
2, 488, 380 2, 488, 380 2, 119, 595 ( 368, 75)
1, 227, 170 1, 463, 289 1, 051, 386 411, 903
1, 227, 170 1, 463, 289 1, 051, 386 411, 903
1, 261,10 1, 025,91 1, 068, 209 43, 118
175, 380) ( 202, 739) ( 202, 739)
175, 380) ( 202, 739) ( 202, 739)
1, 085, 830 $ 822, 352 865, 470 $
947,8
1, 813, 448
43, 118
173
297
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Stewart Economic Dev Fee 80%
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Use of money and property
Total revenues

REVENUES OVER ( UNDER)

EXPENDITURES
5, 689 $ 5, 689
5, 689 5, 689
5, 689 5, 689
Net change in fund balances $
FUND BALANCES:

Beginning of year
End of year
5, 689 $ 5, 689
14, 794
20, 483
174
298
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual TOT Trust
For the year ended June 30, 2025
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts ( Negative)
REVENUES:

Use of money and property $
Total revenues

REVENUES OVER (UNDER)

EXPENDITURES
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
69, 168 $
69, 168
69, 168
69, 168
69, 168 69, 168
69, 168 $ 69, 168
1, 355, 698
1, 424, 866
175
299
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Gateway Business Park
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES (USES):

Transfers out
Total other financing sources ( uses)
Net change in fund balances
FUND BALANCES:

Beginning of year
End of year
161, 000 $ 161, 000 $ 145, 904 $ ( 15, 096)
17, 617 17, 617
161, 000 161, 000 163, 521 2, 521
88, 196 115, 578 25, 797 89, 781
88, 196 115, 578 25, 797 89, 781
72, 804 45,22 137, 724 92, 302
510) 2, 840) 2, 840)
510) 2, 840) 2, 840)
72, 294 $ 42, 582 134, 884 $ 92, 302
316, 223
451, 107
176
300
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual River Islands CFD 2023- 1
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Taxes and assessments $
Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
49, 513 $ 49, 085 $
416
428)
416
49, 513 49, 501 ( 12)
3, 728 3, 701 27
Total expenditures 3, 728 3, 701 27

REVENUES OVER ( UNDER)
EXPENDITURES 45, 785 45, 800 15
Net change in fund balances $
FUND BALANCES:

Beginning of year
End of year
45, 785 45, 800 $ 15
45, 800
177
301
City of Lathrop
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Storm Drain
For the year ended June 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts ( Negative)
REVENUES:

Use of money and property
Total revenues
EXPENDITURES:

Current:

Public works
Total expenditures

REVENUES OVER ( UNDER)

EXPENDITURES
OTHER FINANCING SOURCES ( USES):

Transfers in
Total other financing sources (uses)
Net change in fund balances $
54, 015 $ 54, 015
54, 015 54, 015
70, 000 1, 593, 983 186, 908 1, 407, 05
70, 000 1, 593, 983 186, 908 1, 407, 075
70, 000) ( 1, 593, 983) ( 132, 893) 1, 461, 090
70, 000 741, 983 70, 000 ( 671, 983)
70, 000 741, 983 70, 000 ( 671, 983)
FUND BALANCES:

Beginning of year
End of year
852, 000) ( 62, 893) $ 789, 107
1, 015,11
952, 118
178
302
City of Lathrop
Custodial Funds
Year Ended June 30, 2025
Custodial Funds account for assets held by the City as agent for individuals governmental entities and non- public organizations. These funds include the following:

MOSSDALE VILLAGE ASSESSMENT DISTRICT FUND
To account for the special assessments associated with the payment of the limited -obligation improvement bonds for the Mossdale Village Assessment District.

CROSSROADS ASSESSMENTS FUND
To account for the special assessments associated with the payment of the limited -obligation improvement bonds for the Crossroads Assessment District.

JOINT WASTEWATER COMMUNITY FACILITIES DISTRICT FUND
To account for the special assessments associated with the payment of the limited -obligation improvement bonds for the Joint Wastewater Community Facilities District.

NORTH HARLAN WATER IMPROVEMENT FUND
To account for special assessments associated with the payment of limited obligation improvement bonds for the North Harlan Water Improvement District.

COMMUNITY FACILITIES DISTRICT CLSP INFRASTRUCTURE FUND
To account for special assessments associated with the infrastructure in the Central Lathrop Specific Plan area.

SEWER ASSESSMENT DISTRICT NO. 1FUND
1' o account tor the special assessments associated with the payments of the limited - obligation improvement bonds tor the Lathrop Sanitary Sewer Assessment District No. l
MOSSDALE VILLAGE REASSESSMENT 2015 - 1 FUND
To account for the special assessments associated with the payment of bonds for the Mossdale Village District.

MOSSDALE VILLAGE COMMUNITY FACILITIES DISTRICT 2003 - 1 FUND To account for the special assessments associated with the payment of bonds for the Mossdale Village District. 179
303
City of Lathrop
Combining Statement of Fiduciary Net Position
Custodial Funds
June 30, 2025
Joint Wastewater
Mossdale Village Crossroads Community North Harlan Water Assessment District Assessments Facilities District Improvement ASSETS
Cash and investments
Receivables:

Accrued interest
Restricted assets:

Cash and investments with fiscal agents
Total assets
Accounts payable
Deposits payable
Total liabilities

LIABILITIES

NET POSITION
Restricted for:

Individuals, organizations, and other governments
Total Net Position
678, 278 $ 621, 830 $ 522, 802 $
1, 243 1,22 982
639, 756 845, 584 736, 407
398
1 1, 319, 277 1, 468, 536 1, 260, 191 399
270 70
270 70
1, 319, 007 1, 468, 536 1, 260, 121 399
1, 319, 007 $ 1, 468, 536 $ 1, 260, 121 $ 399
180
304
Community Mossdale Village
Facilities District Sewer Assessment Reassessment 2015- Mossdale Village CLSP Infrastructure District #1 1 CFD 2003- 1
Total
Custodial
Funds
2,46, 584 $ 2, 929 $
3, 951 25
1, 714, 904 312, 687
722, 07 $
1, 458
243, 881
1, 789,11 $ 6, 584,59
3, 915 12, 697
223, 677 4, 716, 896
3, 965, 439 315, 641 967, 366 2, 017, 303 11, 314, 152
270
30, 747
303 358, 010 358, 923
30, 747
31, 017 303 358, 010 389, 670
3, 934, 422 315, 641 967, 063 1, 659, 293 10, 924, 482
3, 934, 422 $ 315, 641 $ 967, 063 $ 1, 659, 293 $ 10, 924, 482 305
City of Lathrop
Combining Statement of Changes in Fiduciary Net Position Custodial Funds
For the year ended June 30, 2025
Joint Wastewater
Mossdale Village Crossroads Community North Harlan Water Assessment District Assessments Facilities District Improvement ADDITIONS:

Collections for assessment districts
Investment earnings
Total additions
DEDUCTIONS:

Administrative expenses
Debt service
Total deductions
Change in net position
NET POSITION:

Beginning of year
End of year
1, 477, 926 $ 757, 361 $ 641, 964 $
46, 158 56, 018 40, 679 39)
1, 524, 084 813, 379 682,43 ( 39)
32,04 20, 935 29, 695
1, 361,35 733,00 587,5
1, 393, 639 754, 635 617, 20
130, 445 58, 744 65, 373 ( 39)
1,88, 562 1, 409, 792 1,94, 748 438
1, 319, 007 $ 1, 468, 536 $ 1, 260, 121 $ 399
182
306
Community Mossdale Village
Facilities District Sewer Assessment Reassessment 2015- Mossdale Village CLSP Infrastructure District # 1 1 CFD 2003- 1
Total
Custodial
Funds
2, 827, 291 $ 146, 521 $ 947,81 $ 771, 485 $ 7, 570,29
136, 731 11, 654 37, 058 89, 647 417, 906
2, 964, 022 158,75 985, 039 861, 132 7, 988, 435
44, 358
2, 714, 095
28, 651 34, 639
35, 768 904,27
30, 050 220, 632
695,65 7, 033,65
2, 758, 453 64, 419 939, 566 725,15 7, 253, 697
205, 569
3, 728, 853
93, 756 45,73 135, 417 734,38
221, 885 921, 590 1, 523, 876 10,89, 744
3, 934, 422 $ 315, 641 $ 967, 063 $ 1, 659, 293 $ 10, 924, 482 307
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184
308

STATISTICAL SECTION
This part of the City' 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 says about the City' s overall financial health. In contrast to the financial section, the statistical section information is not subject to independent audit.

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:

1. Net Position by Component

2. Changes in Net Position

3. Fund Balances of Governmental Funds

4. Changes in Fund Balance of Governmental Funds
Revenue Capacity
These schedules contain information to help the reader assess the City' s most significant local revenue source, the property tax:

1. Property Tax Levies and Collections

2. Assessed Value and Estimated Actual Value of Taxable Property

3. Principal Property Taxpayers
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:

1. Direct and Overlapping Property Tax Rates

2. Direct and Overlapping Governments Sales Tax Rates

3. Legal Debt Margin Information

4. Outstanding Debt

5. Computation of Direct and Overlapping Debt

6. Pledged -Revenue Coverage
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:

1. Demographic and Economic Statistics

2. Principal Employers
Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information in the City' sfinancial report relates to the services the City provides and the activities it performs:

1. Full- time and Part- time City Employees by Function

2. Operating Indicators by Function

3. Capital Asset Statistics by Function

4. Water Sold by Type of Customer

5. Water Rates

6. Ten Largest Water Customers

7. Top 25 Sales Tax Producers
Sources
Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive Financial Reports for the relevant year.
185
309

CITY OF LATHROP
Net Position by Component
Last Ten Fiscal Years
accrual basis of accounting)
Governmental activities:

Net investments in
capital assets
Restricted
Unrestricted
Total governmental activities net position
Business - type activities:

Net investments in
capital assets
Restricted
Unrestricted
2016 2017
148, 474, 931
10, 223, 760
38, 941, 548
155, 971, 046
11, 858, 920
47, 769, 952
197, 640, 239 $ 215, 599, 918
93,06,14
2, 698, 250
26, 437, 255
103, 695, 833
1, 706, 637
37, 146, 214
Total business - type activities net position $ 123, 042, 419 $ 142, 548, 684 Primary government:

Net investments in
capital assets
Restricted
Unrestricted
Total Primary government net position
242, 381, 845
12, 922, 010
65, 378, 803
259, 666, 879
13, 565,57
84, 916, 166
320, 682,58 $ 358, 148, 602
Source: City of Lathrop, California Annual Comprehensive Financial Reports. 2018
159, 727, 304
10, 376, 172
52, 396, 920
2019
179, 501, 255
13, 552, 647
72, 645, 973
222, 500, 396 $ 265, 699, 875
120, 279, 431
1, 650, 031
30, 919, 752
150, 452, 677
1, 652, 234
34, 710, 083
152, 849, 214 $ 186, 814, 994
280, 06, 735
12, 026, 203
83, 316, 672
329, 953,32
15, 204, 881
107, 356, 056
375,49, 610 $ 452, 514, 869
186
310

CITY OF LATHROP
Net Position by Component
Last Ten Fiscal Years
accrual basis of accounting)
2020 2021 2022 2023 2024 2025
206,11, 349 $ 218, 894, 403 $ 250, 65, 011 $ 320, 475, 208 $ 356, 771, 955 $ 396, 480, 557 16, 013,46 103, 964,23 122, 949,90 125, 033, 370 142, 915, 495 188, 519, 998 87, 005, 385 33, 463, 086 47, 696, 013 59, 792, 854 84,85, 678 69, 275,30 309, 229, 780 $ 356,22, 412 $ 421, 251, 014 $ 505, 301, 432 $ 584,73, 128 $ 654, 275, 785 160, 481, 074 $ 156, 93, 462 $ 174, 059, 421 $ 206,99, 495 $ 225, 625, 879 $ 264, 358, 527 1, 651, 396 1, 650,48 1, 652, 915 1, 408, 865 1, 431, 530 1, 486, 322 43, 373,59 62, 502, 764 70,85, 536 72, 411, 962 78, 801, 938 81, 161, 243 205, 505, 829 $ 221, 16, 874 $ 246, 497, 872 $ 280, 120, 322 $ 305, 89, 347 $ 347, 006,92 366, 692, 423 $ 375, 87,65 $ 424, 664, 432 $ 526, 774,03 $ 582, 397, 834 $ 660, 839, 084 17, 664, 442 105, 615, 571 124, 602, 905 126, 442, 235 144, 37, 025 190, 06, 320 130, 378, 744 95,65, 850 118, 481, 549 132, 204, 816 163, 687,16 150, 436,73 514, 735, 609 $ 577, 439, 286 $ 667, 748, 886 $ 785, 421, 754 $ 890, 432,75 $ 1, 001, 281, 877 187
311

CITY OF LATHROP
Changes in Net Position
Last Ten Fiscal Years
accrual basis of accounting)
2016 2017 2018 2019
Expenses:

Governmental activities:

General government $ 5, 614, 173 $ 4, 580, 381 $ 4, 917, 617 $ 5, 307, 052 Public safety 8, 048, 625 9, 683,36 10, 965, 814 11, 284, 963 Public works 7, 864, 470 13,25, 373 13, 066, 756 16, 835, 406 Culture and leisure 1, 395, 287 1, 300, 832 1, 331, 811 1, 442, 202 Community development 1, 712, 156 993, 885 1, 256, 506 977, 552 Interest on long- term debt 880, 036 319, 164 100, 088 46,10 Total governmental activities expense $ 25, 514, 747 $ 30, 003, 271 $ 31, 638, 592 $ 35, 893, 585 Business - type activities:

Water $ 4, 941, 845 $ 5, 828, 411 $ 4, 969, 618 $ 6, 303, 489 Wastewater 3, 587, 602 5, 393, 728 1, 204, 762 9, 206, 503 Total business - type activities expenses $ 8, 529, 447 $ 11, 222, 139 $ 6, 174, 380 $ 15, 509, 992 Total primary government expenses $ 34, 044, 194 $ 41, 225, 410 $ 37, 812, 972 $ 51, 403, 577 Program revenues:

Governmental activities:

Charges for services:

General Government $ 551, 63 $ 462, 696 $ 438, 974 $ 528, 673 Public Safety 365, 009 231, 164 424, 909 775, 581
Public Works 258, 005 1, 697, 831 1,84, 297 1, 874, 445 Culture and leisure 205, 376 283, 662 279, 505 341, 06
Community development 3, 947, 881 3, 131, 768 2, 916, 089 3, 880, 593 Operating grants and contributions 5, 016, 283 4, 841, 037 5, 459, 511 5, 674, 834 Capital grants and contributions 9, 759, 080 30, 838, 179 10, 069, 773 40, 920, 445 Total governmental activities
program revenues $ 20, 103, 247 $ 41,86, 337 $ 20, 773, 058 $ 53, 995, 587 Business -type activities:

Charges for services:

Water $ 5, 849, 963 $ 6, 856, 028 $ 8, 331, 835 $ 9, 052, 906 Wastewater 5, 233, 840 5, 791, 155 6, 533, 098 7, 923,42 Operating grants and contributions - - -
Capital grants and contributions 159, 854 159, 854 159, 854 32, 556, 339 Total business -type activities
program revenues $ 11, 243, 657 $ 12, 807, 037 $ 15, 024, 787 $ 49, 533, 187 Total primary government
program revenues $ 31,46, 904 $ 54, 293, 374 $ 35, 797, 845 $ 103, 528, 774 Net revenues ( expenses):

Governmental activities $ ( 5, 411, 500) $ 11, 483, 066 $ ( 10, 865, 534) $ 18,02, 002 Business -type activities 2, 714, 210 1, 584, 898 8,50, 407 34, 023, 195 Total net revenues ( expenses) $ ( 2, 697, 290) $ 13, 067, 964 $ ( 2, 015, 127) $ 52, 125,97 General revenues and other changes in net position:

Governmental activities:

Taxes:

Property tax
Sales and use taxes
Franchise taxes
Other taxes
Motor vehicle in lieu, unrestricted
Investment income
Other general revenues
Transfers
Total governmental activities
Business -type activities:

Investment income
Miscellaneous
Transfers
Total business - type activities
Total primary government
Changes in net position
Governmental activities
Business -type activities
Total primary government
3, 566, 656 $ 3, 980, 606 $ 4, 285, 832 $ 4, 710, 374
6, 209, 105 6, 337, 138 9, 211,28 12, 001, 476
518, 13 771, 288 877, 633 1, 204, 106
743, 896 565, 715 634, 335 666, 791
1, 324, 094 1, 555, 026 1, 794, 526 1, 898, 011
346, 915 19, 282 979, 43 1, 996, 503
1, 745, 978 10, 090,96 379, 51 149, 364
421, 353) ( 16, 842, 538) ( 137, 582) 2439, 302
14, 033, 474 $ 6, 476, 613 $ 18, 025,56 $ 25, 065, 927
200, 063 $ 214, 510 $ 405, 014 $ 782, 839
416, 119 864, 319 907, 527 1, 599, 048
421, 353 16, 842, 538 137, 582 ( 2, 439, 302)
1, 037, 535 1, 450, 123 ( 57, 415)
15, 071,09
17, 921, 367
24, 397, 980 19, 475, 179 25, 008, 512
8, 621, 974 $ 17, 959, 679 $ 7, 159, 522 $ 43, 167, 929 3, 751,45 19, 506, 265 10, 300, 530 33, 965, 780
12, 373, 719 $ 37, 465, 944 $ 17, 460, 052 $ 77, 133, 709 188
312

CITY OF LATHROP
Changes in Net Position
Last Ten Fiscal Years
accrual basis of accounting)
2020 2021 2022 2023 2024 2025
5, 944, 111 $ 6, 544, 720 $ 6, 994, 053 $ 9, 350, 898 $ 11, 905, 173 $ 14, 094, 572 12,21, 072 11, 729, 668 11, 628, 050 15, 350, 996 19, 911, 396 23, 027, 105 19,95, 792 19, 892, 748 14, 711, 011 36, 027, 481 25, 161, 304 28, 341, 417 1, 468,71 1, 466, 177 11, 559, 470 3, 999, 365 4, 895, 105 5, 921, 321 1, 317, 693 8, 227, 717 1, 805, 271 1, 537, 163 1, 240, 390 1, 071, 454 89, 123 241, 454 233, 740 225, 835 217, 739 209, 452
40, 136, 262 $ 48, 102, 484 $ 46, 931, 595 $ 66, 491, 738 $ 63, 331, 107 $ 72, 665, 321 6, 906, 021 $ 6, 767, 503 $ 7, 099, 213 $ 9, 130, 486 $ 8,09, 160 $ 9, 534, 309 7, 476,39 7, 926, 063 7, 853, 576 9, 457,06 11, 907, 501 14, 838, 044 14, 382, 460 $ 14, 693, 566 $ 14, 952, 789 $ 18, 587, 892 $ 20, 716, 661 $ 24, 372,53 54,18, 722 $ 62, 796, 050 $ 61, 884, 384 $ 85, 079, 630 $ 84, 047, 768 $ 97, 037, 674 465, 303 $ 6, 961, 502 $ 9, 212, 336 $ 8, 753, 003 $ 9, 244, 857 $ 9, 862, 458 504, 277 243, 05 139,11 51, 938 390,30 171, 44
473, 06 3, 581, 829 2, 816, 090 3, 250, 469 4, 672, 841 4, 952, 767 285, 143 124, 652 363, 671 379, 681 401, 65 364, 280
6, 507, 913 3, 880, 053 8, 161, 272 6, 041, 251 5, 455, 638 6, 708, 195 6, 105, 531 2, 709, 984 5, 236, 622 7, 477, 256 5, 756, 573 3, 702, 822 43, 291, 735 16, 740, 299 25, 390, 248 66, 235, 438 58, 107, 420 83,05, 014 57, 632, 938 $ 34, 241, 354 $ 51, 319,50 $ 92, 189, 036 $ 84, 029, 274 $ 109, 566, 950 10, 352, 614 $ 10, 239, 976 $ 10, 758, 681 $ 10, 765, 615 $ 11, 263, 135 $ 12, 441,30 8, 633, 545 8, 776, 287 9, 141, 235 10, 428, 292 11, 386, 277 12, 577, 405 11, 691, 580 6, 862,37 - 29, 098, 366 24, 529, 892 14, 316,04 30, 677, 739
88, 310, 677
17, 496, 676
16, 295,79
33, 791, 955
25, 879, 100
60, 120, 454
13, 861, 130)
11,85, 534
2, 675, 596)
19, 899, 916 $ 50, 292,73 $ 47, 179, 304 $ 39,35, 139
71, 219,66 $ 142, 481, 309 $ 131, 208, 578 $ 148, 902, 089 4, 387, 755 $ 25, 697, 298 $ 20, 698, 167 $ 36, 901, 629 4, 947, 127 31, 704, 381 26, 462, 643 14, 962, 786
9, 334, 882 $ 57, 401, 679 $ 47, 160, 810 $ 51, 864, 415 5, 333, 918 $ 8, 613, 482 $ 8, 613, 482 $ 10, 509, 687 $ 12,78, 582 $ 13, 217, 096 10, 501, 615 18,90, 475 18,90, 475 21,85, 429 21, 039, 383 19, 809, 001 1, 241, 635 1, 530, 878 1, 530, 878 2,85, 062 2, 772, 994 2, 979, 604 582,52 30, 620, 998 30, 620, 998 15, 842, 524 3, 752, 539 3, 911, 374 2, 193, 976 738,08 738,08 3, 413, 255 4, 330, 413 4, 862, 283 2, 786, 291 701, 941 701, 941 3, 901, 381 5, 951, 704 8, 085, 732 184, 705 945, 547 945, 547 381, 860 1, 026, 228 536, 691 3, 255, 411 1, 777, 930 1, 777, 930 3, 143, 911 1, 808, 102 ( 20, 154, 571) 26, 080, 103 $ 63, 119, 959 $ 63, 119, 959 $ 60, 763, 109 $ 52, 859, 945 $ 33, 247,10 741, 372 $ 364, 403 $ 364, 403 $ 952, 746 $ 3, 603, 153 $ 4, 269, 570 4, 909, 595 5, 692, 221 5, 692, 221 6, 526, 718 620, 278 1, 501, 418 3, 255, 411 ( 1, 777, 930) ( 1, 777, 930) ( 3, 143, 911) ( 1, 808, 102) 20, 154, 571 2, 395, 556 $ 4, 278, 694 $ 4, 278, 694 $ 4, 335, 553 $ 2, 415, 329 $ 25, 925, 559 28, 475, 659 $ 67, 398, 653 $ 67, 398, 653 $ 65, 098, 662 $ 55, 275,74 $ 59, 172, 769 43, 576, 779 $ 49, 258, 829 $ 67, 507, 714 $ 86, 460,07 $ 73, 558, 112 18, 690, 835 15, 464, 228 9, 225, 821 36, 039, 934 28, 877, 972 62, 267, 614 $ 64, 723, 057 $ 76,33, 535 $ 122, 500, 341 $ 102, 436, 084 70, 148, 839
40, 888, 345
111, 037, 184
189
313

CITY OF LATHROP
Fund Balances of Governmental Funds
Last Ten Fiscal Years
modified accrual basis of accounting)
General fund:

Nonspendable
Restricted
Committed
Assigned
Unassigned
Total general fund
All other governmental funds:

Restricted
Committed
Assigned
Unassigned
Total all other governmental funds
2016 2017 2018 2019
6,65,77 $ 6, 180, 434 $ 5, 650, 104 $ 5, 225, 742
2,33,4
12, 861, 107 16, 496, 212 21, 538, 365 31, 169, 562
21, 760, 018 $ 22, 676,46 $ 27, 188, 469 $ 36,95,04
4, 513, 322
25, 829, 474
975, 042
233)
31,17, 605
FY2021 reflects the implementation of GASB 84.

Source: City of Lathrop, California
4, 701, 300 $ 3, 797, 087 $ 4, 701, 645
35, 779, 675 36, 015, 106 49, 619, 728
784, 139 663,74 549, 720
120) ( 163, 756)
41, 264, 994 $ 40,75, 867 $ 54, 707, 337
190
314

CITY OF LATHROP
Fund Balances of Governmental Funds
Last Ten Fiscal Years
modified accrual basis of accounting)
2020 2021* 2022 2023 2024 2025
3, 470, 982 $ 3, 282, 311
29, 678, 802 29, 664, 824
2, 616, 835
4, 289,78 6,79, 913
2, 405, 864
44, 763, 906
5, 704, 542
9, 766, 137
40,47, 513
6, 145, 676
8,60, 658
37, 882, 299
15, 302, 060
8, 328, 220
30, 410, 317
22, 559, 460
40, 055, 897 $ 39, 627, 048 $ 52, 874, 312 $ 56, 359,26 $ 62, 045,17 $ 61, 297, 997 9, 116, 860 $ 41, 955, 830 $ 41,19, 819 $ 125, 033, 370 58, 214, 668 - 7, 556, 009
572, 817
2, 500) ( 169, 617) ( 521, 256) ( 409, 608)
67, 901, 845 $ 41, 786, 213 $ 40, 898, 563 $ 132,79, 771 143, 048, 173
24,41, 497
5, 330)
167, 284, 340
188, 519, 998
9,78, 478
1, 506)
198, 496, 970
191
315

CITY OF LATHROP
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
modified accrual basis of accounting)
2016 2017
Revenues:

Taxes and assessments
Licenses and permits
Fines, forfeitures, and penalties
Intergovernmental
Use of Money & Property
Charges for current services
Contributions ( Developer)
Other
Total revenues
Expenditures
Current:

General government
Community development
Public safety
Public works
Culture and leisure
Capital Outlay
Debt service:

Principal retirement
Lease principal retirement
Interest and fiscal charges
Total expenditures
Excess ( deficiency) of
revenues over ( under)
expenditures
18, 494,60
1, 283, 193
1, 658,39
5, 489, 546
382, 74
3, 725, 964
3, 523,48
34, 558, 074
4, 675, 898
1, 657, 178
7, 297, 872
6,87, 275
1, 296, 370
4, 361, 924
1, 683, 347
390, 710
22, 885, 183
1, 808, 623
1, 949,10
3, 134, 272
392, 493
3, 605, 846
19, 675, 946
1, 353, 215
54, 805, 488
4,06, 106
784,63
9, 560, 119
7, 616, 246
1, 226, 638
2, 920, 897
2018
22, 571, 206
1, 266, 197
2,37, 680
4,20, 261
1, 366, 160
3, 508, 608
2, 751, 850
813, 74
38, 935, 696
4, 770, 853
1,09, 714
10, 724, 423
7, 048,16
1, 275, 334
9, 761, 990
2019
35,07, 490
1, 823, 951
2, 542,51
4, 373, 978
2, 433, 126
4, 656, 065
536, 277
550, 982
52, 224, 420
5, 137, 588
838, 993
11, 222, 012
9,84, 165
1, 384, 798
2, 643, 451
265, 000 285, 000
319, 164 100, 088 46,10
28, 050, 574 $ 27, 098, 933 $ 35, 075, 418 $ 31, 257, 417 6, 507,00 $ 27, 706, 555
Other financing sources ( uses):

Proceeds from issuance of long- term de $
Transfers in
Transfers out
Lease and Software Subscriptions
Proceeds from sale of capital assets
1,91, 652)
12, 971, 420
13, 392, 773)
10, 394, 523
27,37, 061)
3, 860, 278 $ 20, 967, 003
12, 389, 403
12, 526, 985)
14, 380, 867
11, 941, 565)
Total other financing
sources ( uses) $ ( 1, 613, 005) $ (16, 842, 538) $ ( 137, 582) $ 2, 439, 302 Net change in fund balances $ 4, 894, 495 $ 10, 864, 017 $ 3, 722, 696 $ 23, 406, 305 Debt service as a percentage of
noncapital expenditures 9.6%
FY20/ 21 reflects the implementation of GASB 84.

Source: City of Lathrop, California

2.5% 1.5% 0.2%
192
316

CITY OF LATHROP
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
modified accrual basis of accounting)
2020 2021* 2022 2023
32, 969, 640
2, 930, 344
1, 973, 138
5, 281, 487
3, 299, 084
4, 523, 327
357, 105
657, 995
51, 992, 120
5, 748, 979
1,53,19
12, 001, 225
10, 701, 329
1, 411, 336
6, 950, 445
290, 00
89, 123
59, 694, 541
3, 191, 727
1, 628, 103
7, 045,36
701, 941
6, 208, 805
7, 595,47
945, 547
87, 011, 247
6, 241, 381
1, 220, 515
11, 507, 852
19, 627, 773
1, 323, 042
11, 300, 021
300, 00
241, 454
38,45, 556 $ 51, 762, 038
13, 646, 564 $ 35, 249,09
24, 940,59 35, 131, 963
21, 685, 548) ( 33,54, 033)
3, 255, 411 $ 1, 777, 930
67, 116,03 $ 53, 295,37
386, 46 2,05,03
1, 588, 616 1, 529, 724
10, 094, 787 18,40,97
2, 101, 280) 4, 030, 511
13, 859, 233 8, 654, 509
10, 621, 451 2, 017, 292
1, 344, 184 374,77
102, 909, 560 $ 90, 247, 050
7, 124, 908
1, 722, 885
11, 552, 853
16, 617, 416
3, 405,73
24,67, 638
352,16
233, 740
65, 277,29
37, 632, 331
26, 553,63
32, 233, 805)
9, 372, 651
1, 282, 370
14, 956, 148
25, 566, 909
3, 921, 574
22, 666, 952
315, 000
367, 507
225, 835
78, 674, 946
2024
65, 425, 623
382, 588
1, 680, 006
12, 045, 766
10, 292, 129
9, 771,62
4, 198, 284
1, 014, 518
104, 810, 676
11,45, 202
1, 235, 413
17, 502,13
15, 582,58
3, 555, 970
21, 770, 137
320, 00
357, 610
217, 739
71, 687, 142
11, 572, 104 $ 33, 123, 534
43, 691, 356
40, 547, 445)
1, 462, 298
45,15, 512
43, 607, 410)
145, 040
2025
65, 068, 458
301, 403
1, 748, 947
12, 961, 759
12, 945, 089
11, 431, 330
24, 353, 636
1, 090, 746
129, 901, 368
13, 680, 470
1, 076, 468
19, 719, 387
17, 361, 431
2, 073, 341
24, 570, 280
330, 00
591,63
209, 452
79, 612, 392
50, 288, 976
40, 063, 910
60, 218, 481)
322, 790
8, 415
5, 680, 242) $ 4, 606, 209 $ 1, 953, 142 $ (19, 823, 366) 16, 901,75 $ 37, 027, 139 $ 31, 952, 089 $ 16,78, 313 $ 35, 076, 676 $ 30, 465, 610

1.2% 1.4% 1.4% 1.6% 1.8% 2.1%
193
317

CITY OF LATHROP
Property Tax Levies and Collections
Last Ten Fiscal Years
Collected within the Fiscal
Year of Levy Total Collection to Date
Taxes Levied Collection in
Fiscal for the Fiscal Percent Subsequent Percent
Year Year Amount of Levy Years Amount of Levy
2016 3,53, 607 3,53, 607 100. 00% 3,53, 607 100. 00%
2017 3, 727, 479 3, 727, 479 100. 00% 3, 727, 479 100. 00% 2018 4, 125, 753 4, 125, 753 100. 00% 4, 125, 753 100. 00% 2019 4, 309, 587 4, 309, 587 100. 00% 4, 309, 587 100. 00% 2020 4, 812, 631 4, 812, 631 100. 00°/ 4, 812, 631 100. 00°/ 2021 5, 326, 609 5, 326, 609 100. 00°/ 5, 326, 609 100. 00`)/ 2022 5, 853, 282 5, 853, 282 100. 00°/ 5, 853, 282 100. 00% 2023 6,97,06 6,97,06 100. 00% 6,97,06 100. 00`)/
2024 7, 330, 491 7, 330, 491 100. 00% 7, 330, 491 100. 00°/ 2025 8,07, 010 8,07, 010 100. 00% 8,07, 010 100. 00%
Source: County of San Joaquin, California, Office of the Controller. 194
318

CITY OF LATHROP
Assessed Value and Estimated Actual Value of Taxable Property Last Ten Fiscal Years
in thousands)
City
Gross Taxable Assessed Value Net Taxable Total
Less: Assessed Direct Tax
Fiscal Year Secured Unsecured SBE Nonunitary Exemptions Value Rate 2016 2, 188, 540, 780 198,30, 929 5, 070, 340 ( 18, 624, 42) 2, 373, 117, 607 0. 141% 2017 2, 559, 643, 198 163, 451, 777 6, 170, 020 ( 18, 624, 442) 2, 710, 640, 553 0. 138% 2018 2, 941, 872, 358 174,27, 391 6, 170, 020 ( 18, 831, 913) 3, 103, 337, 856 0. 133% 2019 3, 117, 97, 243 190, 538, 705 6, 170, 020 3,14, 685, 968 0. 130% 2020 3, 554, 886, 516 282,02, 562 6, 170, 020 3, 843, 259, 098 0. 125% 2021 4, 139, 024, 746 280, 821, 500 15, 952, 158 4,35, 798, 404 0. 120% 2022 4, 787, 945, 754 304, 082, 430 15, 952, 158 5, 107, 980, 342 0. 115% 2023 5, 732, 986, 696 363, 749, 894 15, 952, 158 6, 112, 688, 748 0. 110% 2024 7, 186,76, 227 553, 069, 576 15, 952, 158 7,55, 197, 961 0.95% 2025 8, 087,25, 683 603, 508, 724 17,72, 429 - 8, 707,06, 836 0. 101% NOTE:

In 1978 the voters of the State of California passed Proposition 13 which limited property taxes to a total maximum rate of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased by an " inflation factor" (limited to a maximum increase of2%). With few exceptions, property is only reassessed at the time that it is sold to a new owner. At that point, the new assessed value is re -assessed at the purchase price of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.

Source: County of San Joaquin, California, Office of the County Assessor. 195
319

CITY OF LATHROP
Principal Property Taxpayers
Current Year and Nine Years Ago
Taxpayer

TESLA MOTORS INC

LIT INDUSTRIAL LP
EXETER 5150 GLACIER LP
DPIF4 CALIFORNIA GLACIER LP
YOSEMITE LATHROP 2 LLC

J R SIMPLOT COMPANY CORPORATION

CALIFIA LLC

ASP AND RWM PROPERTIES ETAL

PW FUND ALP

DG SOUTH HARLAN PROP OWNERS

CENTERPOINT PROPERTIES TRUST

SUPER STORES INDUSTRIES

CALIFORNIA NATURAL PRODUCTS

LBA REALTY FUND

LATHROP LAND ACQUISITION LLC

LCP REMAINDER TRUST ETAL
700 D' ARCY PARKWAY INVESTORS LLC
Total
2025
Taxable
2016
Percent of Percent of
Total City Total City
Taxable Taxable
Assessed Taxable Assessed
Assessed Value Rank Value Assessed Value Rank Value
398, 01,44
244, 353, 490
195, 000,00
138, 314, 070
117, 616, 965
89, 160,99
89, 057,49
80, 348, 030
78, 006,40
77, 576, 100
1, 507,12, 987
1 4. 57% $ 67, 457, 784 1
2 2. 81%
3 2.4%
4 1. 59%
5 1. 35%
6 1. 02%
7 1. 02%
8 0. 92%
9 0. 90%
10 0. 89%
Source: County of San Joaquin, California, Office of the County Assessor.

2. 84%
54, 861, 994 2 2. 31%
41, 504, 810 5 1. 75%
48, 074, 600 3 2. 03%
39, 873, 217 6 1. 68%
43, 739, 665 4 1. 84%
38, 435, 164 7 1. 62%
32, 044, 962 8 1. 35%
29, 815, 956 9 1. 26%
29, 000,00 10 1. 22%

17. 31% $ 424, 808, 152 17. 90%
196
320

CITY OF LATHROP
Property Tax Rates
Direct and Overlapping Governments
Last Ten Fiscal Years
rate per $ 100 of assessed value)
Fiscal Basic
Year County -wide Levy (1) School (2) All Other Total Rate 2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
NOTE:

1. 00000% 0. 14200% 0.0000% 1.4200%

1. 00000% 0. 12820% 0.0000% 1.2820%

1. 00000% 0. 13030% 0.0000% 1.3030%

1. 00000% 0. 12280% 0.0000% 1.2280%

1. 00000% 0. 11400% 0.0000% 1.1400%

1. 00000% 0. 10490% 0.0000% 1.0490%

1. 00000% 0. 13820% 0.0000% 1.3820%

1. 00000% 0. 13660% 0.0000% 1.3660%

1. 00000% 0. 12940% 0.0000% 1.2940%

1. 00000% 0. 12940% 0.0000% 1.2940%
1) In 1978, California voters passed Proposition 13 which sets the property tax rate at a

1. 00% fixed amount. This 1. 00% is shared by all taxing agencies, including the City of Lathrop, for which the subject property resides within. The City of Lathrop' s portion varies by several Tax Rate Areas (TRAs) within the City.

Source: San Joaquin County Assessor 2018/ 16 - 2024/5 Tax Rate Table 197
321

CITY OF LATHROP
Sales Tax Rates
Direct and Overlapping Governments
Last Ten Fiscal Years
Measure
City Measure C Transportation State of
Fiscal Direct K General Development San Joaquin California Year Rate Rate Purpose Act Rate County Rate Rate Total
2016 1. 00% 0. 50% 1. 00%
2017 1. 00% 0. 50% 1. 00%
2018 1. 00% 0. 50% 1. 00%
2019 1. 00% 0. 50% 1. 00%
2020 1. 00% 0. 50% 1. 00%
2021 1. 00% 0. 50% 1. 00%
2022 1. 00% 0. 50% 1. 00%
2023 1. 00% 0. 50% 1. 00%
2024 1. 00% 0. 50% 1. 00%
2025 1. 00% 0. 50% 1. 00%

0. 25% 1. 00% 5. 25% 9. 00%

0. 25% 1. 00% 5. 00% 8. 75%

0. 25% 1. 00% 5. 00% 8. 75%
NOTE:

A 1. 00% increase in Sales and Use Tax became effective as of April 1, 2009 to augment the State of California' s budget. On May 19, 2009, the voters did not approve the proposed " Budget Stabilization" constitutional amendment and the expiration date of this 1. 00% increase was on July 1, 2011.

On November 6, 2012 the voters of Lathrop approved Measure C. Measure C is an additional 1% sales tax to be used for Public Safety and essential City services.

Source: City of Lathrop, California Finance Department
County of San Joaquin, California, Office of the Auditor -Controller 198
322
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199
323

CITY OF LATHROP
Taxable Sales by Category
Last Ten Calendar Years
in thousands of dollars)
Adjusted for Economic Data
2015 2016 2017 2018 2019
Apparel Stores
Eating and Drinking Places
Building Materials
Auto Dealers and Supplies
Service Stations
Other Retail Stores
All Other Outlets
139 $ 158 $ 170 $ 168 $ 144
20, 908 23, 903 28, 457 30, 705 34, 609
18, 952 24, 498 24,08 52, 600 34, 920
20, 853 23,41 50,70 64, 383 71, 514
58, 064 51, 774 65, 073 104, 988 109, 926
54,94 56, 292 55, 085 56, 151 60, 348
86,60 73, 171 95, 495 162,71 144, 818
Total Positions $ 260, 370 $ 253, 07 $ 319, 058 $ 471, 166 $ 456, 279 Source: State Board of Equalization, California Department of Taxes and Fees Administration, State Conttroller' s Office, & The HdL Companies Note: Due to confidentiallity issues, the names of the ten largest revenue payers are not available. The categories presented are intended to provide alternative information regarding the sources of the the City' s
revenue.
200
324

CITY OF LATHROP
Taxable Sales by Category
Last Ten Calendar Years
in thousands of dollars)
Adjusted for Economic Data
2020 2021 2022 2023 2024
78 $ 70 $ 117 $ 106 $ 127
40, 337 53, 796 59, 154 63, 985 64, 754
29, 890 33, 764 38, 075 35, 477 64, 569
55, 105 51, 310 53, 718 72, 457 53, 402
91, 861 130,48 172, 62 148,38 140, 361
70, 847 78,61 81, 979 82, 164 83, 278
346, 76 640, 965 776,82 754, 910 621, 402
634, 884 $ 988, 814 $ 1,82, 447 $ 1,57, 237 $ 1, 027, 893 325

CITY OF LATHROP
Legal Debt Margin Information
Last Ten Fiscal Years
Gross Assessed Valuation
Debt Margin Ratio ( 1)
Debt Margin ( Limit)
Less: total net debt applicable to limit:

General obligation bonds
2016
2, 373, 117, 607
2017
2, 710, 640, 553

3. 75% 3. 75%
2018
3, 103, 37, 856
2019
3,14, 685, 968

3. 75% 3. 75%
88, 991,10 $ 101, 649, 021 $ 116, 375, 170 $ 124, 300, 724 Net Legal Debt Margin $ 88, 991,10 $ 101, 649, 021 $ 116, 375, 170 $ 124, 300, 724 Total debt applicable to the the limit
as a percentage of debt limit
Notes
0% 0%
1) The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation. However, this provision was enacted when assessed valuation was based upon 25% of market value. Effective with the 1981- 82fiscal year, each parcel is now assessed at 100% of market value ( as of the most recent change in ownership for that parcel.) The computation shown above reflects a conversion of assessed valuation data for each fiscal year from the current full valuation perspective to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California for local governments located within the state. The limit shown is 3. 75% ( one- fourth of the previous limit of 15%).
0% 0%
Source: City of Lathrop, California Finance Department and the County of San Joaquin, California, Office of the Controller 202
326

CITY OF LATHROP
Legal Debt Margin Information
Last Ten Fiscal Years
2020 2021 2022 2023 2024 2025
3, 843, 259, 098 $ 4,35, 798, 404 $ 5, 107, 980, 342 $ 6, 112, 688, 748 $ 7,55, 197, 961 $ 8, 707,06, 836

3. 75% 3. 75% 3. 75% 3. 75% 3. 75% 3. 75%
144,22, 216 $ 166, 342, 440 $ 191, 549, 263 $ 229,25, 828 $ 290, 819, 924 $ 326, 539, 006 144,22, 216 $ 166, 342, 440 $ 191, 549, 263 $ 229,25, 828 $ 290, 819, 924 $ 326, 539, 006 0% 0% 0% 0% 0% 0%
203
327

CITY OF LATHROP
Outstanding Debt
Last Ten Fiscal Years
Governmental Activities Business -type Activities
Total
Fiscal Financed Leases and Governmental Water Revenue
Year Purchases SBITAS ( 1) Activities Bonds Notes
2016 4, 190, 000 4, 190, 000 12, 635, 000
2017 3, 925, 000 3, 925, 000 11, 455, 000 ( 3)
2018 3, 640, 000 3, 640, 000 10, 846, 145
2019 3, 640, 00 3, 640, 000 10, 207, 524
2020 3,50, 000 3,50, 000 9, 550, 312
2021 3, 050,00 3, 050,00 8,73, 969
2022 2, 745, 000 129,35 2, 874, 135 8, 177, 936
2023 2, 430, 000 1, 094, 791 3, 524, 791 7, 461, 642
2024 2, 110, 000 882, 221 2, 992, 221 6, 724, 497
2025 1, 780, 000 613, 448 2, 393, 448 5, 965, 895
1) Implementation of GASB 87 and GASB 96
3) These ratios are calculated using personal income and population for the prior calendar year. 3) On May 2017, the City refunded the Water Revenue Bonds.

Source: City of Lathrop, California Finance Department
204
328

CITY OF LATHROP
Outstanding Debt
Last Ten Fiscal Years
Business -type Activities
State Percentage
PNC Bank Revolving Total Business- Total Primary of Personal Debt Per Loan Fund Loan type Activities Government Income Capita ( 2) 5, 070, 256 8, 160, 773 25, 866, 029 30, 056,29 82. 47% 1, 301 4, 755, 863 7,49, 237 23, 960, 100 27, 885, 100 69. 04% 1,49 4,30,88 7, 328, 146 22, 604, 779 26,44, 779 57. 43% 1, 081 4, 093, 638 6, 897, 278 21, 198, 440 24, 838, 440 47. 89% 996 3, 744, 895 6, 456,06 19, 751, 613 23, 101, 613 44. 54% 861 3,83, 839 6, 005, 297 18, 263, 105 21, 313, 105 37. 65% 748 3, 010,37 5,54, 128 16, 742, 101 19, 616, 236 31. 08% 626 2, 623, 175 5, 071, 412 15,56, 229 18, 681, 020 22. 54% 533 2,22, 444 4, 588, 144 13, 535, 085 16, 527, 306 16. 41% 446 1, 821, 713 4, 099, 298 11, 886, 906 14, 280, 354 12.2% 370 205
329

CITY OF LATHROP
Computation of Direct and Overlapping Debt
June 30, 2025
FY 2024/5 City Assessed Valuation
Redevelopment Agency Incremental Valuation
Adjusted Assessed Valuation
8, 707,06, 836
8, 707,06, 836
Overlapping Tax and Assessment Debt
San Joaquin Delta Community College District
Manteca Unified School District
Tracy Unified School District
Banta School District
Manteca Unified School District Community Facility District No. 1989- 2 Manteca Unified School District Community Facility District No. 2005- 4 Banta School District Community Facilities District No. 2011- 1 River Islands Public Financing Authority Community Facilities District No. 2003- 1, I.A. No. 1 River Islands Public Financing Authority Community Facilities District No. 2003- 1, I.A. No. 2 River Islands Public Financing Authority Community Facilities District No. 2015- 1 River Islands Public Financing Authority Community Facilities District No. 2016- 1 River Islands Public Financing Authority Community Facilities District No. 2019- 1 River Islands Public Financing Authority Community Facilities District No. 2020- 1 River Islands Public Financing Authority Community Facilities District No. 2021- 1 River Islands Public Financing Authority Community Facilities District No. 2023- 1, I.A. No. 1 River Islands Public Financing Authority Community Facilities District No. 2023- 1, I.A. No. 2 City of Lathrop Community Facilities District No 2003- 1 City of Lathrop Community Facilities District No 2003-
City of Lathrop Community Facilities District No 2018- 1, I.A. s1- 5 City of Lathrop 1915 Act Bonds
Reclamation District No. 17 Assessment District
California Statewide Community Development Authority 1915 Act Bonds Total Overlapping Tax and Assessment Debt
Ratios to FY 2024/5Assessed Valuation:

Total Overlapping Tax and Assessment Debt
Direct and Overlapping General Fund Obligation Debt
San Joaquin County Certificates of Participation
Manteca Unified School District General Fund Obligations City of Lathrop General Fund Obligations
Lathrop - Manteca Rural Fire Protection District Certificates of Participation Total Direct and Overlapping General Fund Debt
Total Direct Debt
Total Overlapping Debt
Combined Total Debt

11. 80%
Percentage
Applicable to
Total Debt City of City' s
Share of
6/ 30/ 25 Lathrop ( 1) Debt 6/ 30/ 225
148, 565, 000 6. 928%
378, 163, 008 24.17%
23, 065,00 0.01%
205, 000 78. 216%
13, 770, 000 20. 749%
4, 345, 000 100. 000%
1, 976, 000 100. 000%
314, 860, 000 100. 000%
27, 385, 000 100. 00%
185,10, 000 100. 000%
68, 340, 000 100. 000%
62, 150, 000 100. 000%
48, 115, 000 100. 000%
35, 100, 000 100. 000%
28,30, 000 100. 000%
60, 405, 000 100. 000%
3, 285, 000 100. 000%
3, 895, 000 100. 000%
45, 080,00 100. 000%
17, 455, 000 100. 000%
19, 320, 000 59. 647%
5,10, 000 100. 000%
10, 292, 583
91, 579, 736
231
160, 343
2, 857, 137
4, 345, 000
1, 976, 000
314, 860, 000
27, 385, 000
185,10, 000
68, 340, 000
62, 150, 000
48, 115, 000
35, 100, 000
28,30, 000
60, 405, 000
3, 285, 000
3, 895, 000
45, 080,00
17, 455, 000
11, 523, 800
5,10, 000
1, 494, 329, 008 $ 1, 027, 654, 830
43, 190, 000
9,85, 000
1, 780, 000
3, 245, 000

7. 477% 3, 229, 316

24.17% 2, 418, 067
100. 000% 1, 780, 000

82. 157% 2, 665, 995
10, 093, 378
1, 780, 000
1, 035, 968, 208
1, 037, 748, 208 (2)
1) For all outside agency debt referenced on this sttement, the city' s overlapping debt obligation is based upon the proration of the aggregate issuance as directed by each issue' underlying funding agreement. The proration is generally based on the percentae of the overlapping agency' s assessed
valuation located within boundaries of the city.
2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non -bonded financed purchased obligations.

Ratios to Adjusted Assessed Valuation
Total Direct Debt
Combined Total Debt
Source: Califomia Municipal Statistics, Inc.

0.2%

11. 92%
206
330
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207
331

CITY OF LATHROP
Pledged - Revenue Coverage
Last Ten Fiscal Years
2000 Certificates of Participation/ PNC Bank Loan (1)
Debt Service
Less Net
Fiscal Water Operating Available
Year Revenue ( 3) Expenses ( 4) Revenue Principal Interest Coverage 2016 6, 385, 191 3, 479, 010 2, 906, 181 303, 550 185, 40 5. 94 2017 7, 834,87 4, 366, 161 3, 468, 726 314,93 174, 733 7. 09 2018 8, 491, 689 4, 969, 618 3, 522, 071 325,63 163, 67 7. 20 2019 9, 212, 760 6, 303, 489 2, 909, 271 336, 850 152,50 5. 95 2020 10, 949, 739 5,39, 228 5, 410, 511 348, 743 140, 257 11. 06 2021 10, 241, 182 6, 216, 829 4, 024, 353 361, 056 127, 944 8. 23 2022 10, 763, 857 6, 591,91 4, 172, 266 373, 803 115,97 8. 53 2023 11, 085, 970 8, 667, 182 2, 418, 788 386, 82 101, 900 4. 95 2024 13, 474, 602 8, 470,98 5, 004, 104 400, 664 88, 336 10. 23 2025 15, 845, 022 9, 162, 928 6,82, 094 414, 810 74, 190 13. 66 Note: Details regarding the City' s outstanding debt can be found in the notes to the financial statements.

Operating expenses do not include interest or depreciation expenses. 1) The 2000 COP' s were refunded by the PNC Bank Loan on May 4, 2012.

The Required Debt coverage ratio for the PNC Bank Loan is 1.0%. 2) The Required Debt coverage ratio for 2003 COP' s/ Pacific Premier Bank Loan & SRF Loan is 1. 00°/. 3) Gross revenues include interest earnings and connection fees. 4) Operating expenses from Statement of Revenues, Expenses and Changes. 5) Source: Debt Service Schedule. The Water Revenue Certificates of Deposit Series 1993A were funded on May 24, 2000. On May 24, 2000 the City issued the Installment Purchase Certificates of Participation, 2000 Series A. On July 16, 2003 the City issued Revenue Bonds (Water Supply Project), Series 2003. On May 4, 2012 the Compass Bank Loan refunded the 2000 COPs ( Compass Bank Loan Cash Flow and Yield Verification Report)
Source: City of Lathrop, California Finance Department
208
332

CITY OF LATHROP
Pledged -Revenue Coverage
Last Ten Fiscal Years
2003 COP' s/ Pacific Premier Bank Loan & SRF Loan (2)
Debt Service
Net Available
Revenue ( 5) Principal Interest Coverage
2, 417, 181 402, 196 945, 592 1. 79
2, 979, 600 411, 536 936, 254 2.1
3, 033,71 421, 091 926, 699 2.5
2, 420, 271 1, 069, 489 475, 545 1. 57
4, 921, 511 1, 093,53 451, 981 3. 19
3, 535, 353 1,22, 305 422, 79 2.9
3, 683, 266 1,52, 348 392, 686 2. 38
1, 930, 026 1,93, 631 361, 403 1. 24
4, 515, 104 1, 220, 413 324, 621 2. 92
6, 193, 094 1, 231, 634 313, 400 4. 01
209
333

CITY OF LATHROP
Demographic and Economic Statistics
Last Ten Calendar Years
Personal
Income (in Per Capita
Calendar Population thousands) Personal Unemployment
Year ( 1) ( 2) Income (2) Rate (2)
2015 22, 112 354, 280 16, 022
2016 23, 110 364, 434 15, 769
2017 24,68 403, 896 16, 643
2018 24, 936 457, 006 18, 327
2019 26, 833 518, 675 19, 329
2020 28, 503 566, 02 19, 859
2021 31,31 631, 164 20, 145
2022 35, 080 828,00 23, 625
2023 37, 033 1, 006, 915 27, 189
2024 38, 596 1,78, 274 30, 528

8.5%

7.8%

6.3%

5.2%

4.3%

9.6%

8.4%

5.1%

7.0%

5.%
Sources: ( 1) California State Department of Finance
2) 2010 and later - Income, Age and Education Data - US Census Bureau, most recent American Community Survey
210
334

CITY OF LATHROP
Principal Employers
Current Year and Nine Years Ago
Employer
Tesla
United Parcel Service ( UPS)
Wayfair
California Natural Products ( CNP)
Lathrop Logistics
Manteca Unified SD ( Lathrop Schools)
Army Air Force Exchange Service
Banta Unified SD ( Lathrop Schools)
In -N -Out Burger
Simwon America
Diamond Pet Foods
Pratt Industries
Ashley Furniture
City of Lathrop
CBC Steel Buildings
Target
Medline
Pfug Packaging
Home Depot
Swiss American Sausage
Dragon Products
Crosslink Professional Tax Solutions
Kraft Heinz
Smart Refridgerated Transport
Kaiser Permanente
Carpenter Company
Cen Cal Plastering
Food 4 Less
JC Penney Distribution Center
JR Simplot Company
Pilkington North America Inc
Super Store Industries (SSI)
Total Employment" as used above represents the Estimated located within City limits.

Source: California Labor Market Information, California EDD City of Lathrop Community Development Department
2025
Number of
Employees
2016
Percent of Percent of
Total Number of Total
Rank Employment Employees Rank Employment
2, 176 1 16. 38%
1, 460 2 10. 99%
431 3 3. 24%
419 4 3. 15%
386 5 2. 91%
383 6 2. 88%
356 7 2. 68%
353 8 2. 66%
353 8 2. 66%
353 8 2. 66%
202 9 1. 52%
200 10 1. 51%
180 11 1. 36%
178 12 1. 34%
175 13 1. 32%
172 14 1. 29%
158 15 1.9%
150 16 1.3%
132 17 0. 99%
115 18 0. 87%
111 19 0. 84%
110 20 0. 83%
100 21 0. 75%
100 21 0. 75%
92 22 0. 69%
100 5
100 5
150 4
200 2
150 4
175 3
100 5
100 5
100 5
700 1
200 2
150 4
total employment of all employers
Website ( www. ca. gov)

1. 39%

2. 08%

2. 78%

2. 08%

2. 43%

1. 39%

9. 72%

2. 78%

2. 08%
211
335

CITY OF LATHROP
Full -Time and Part -Time City Employees by Function
Last Ten Fiscal Years
Function
General Government
Public Safety ( 1)
Public Works
Community Development
Culture & Leisure
Total Positions
2016 2017 2018 2019 2020 2021

24. 60 23. 60 23. 60 24. 60 26. 60 28. 63

36. 98 37. 98 35. 98 36. 98 36. 98 36. 98

29. 50 30. 80 33. 80 40.7 40.7 42.7

4. 00 3. 10 4. 10 4.3 4.3 4.0

21. 00 20. 56 21. 01 21. 01 21. 01 28. 60
116. 08 116. 04 118. 49 127. 49 129. 49 141. 08
1) In June of 2022 the City launched its own police department. San Joaquin County Sheriff provided police protection prior to June 2022 Fire Service is provided by Lathrop Manteca Fire District.

Source: City of Lathrop, California Annual Adopted Budgets. 212
336

CITY OF LATHROP
Full -Time and Part -Time City Employees by Function
Last Ten Fiscal Years
2022 2023 2024 2025

30. 63 35. 25 36. 25 38. 25

53. 68 57. 00 63. 00 69. 00

45.7 44. 65 45. 65 54. 65

5. 40 4. 10 4. 10 4. 10

30. 60 36. 45 36. 45 26. 45
165. 78 177. 45 185. 45 192. 45
337

CITY OF LATHROP
Operating Indicators by Function
Last Ten Fiscal Years
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Police:

Arrests
Parking Citations Issued
572 705 550 558 554 624
696 1, 385 1, 084 1, 389 1, 237 1, 489
989 1,14 901
953 1,08 1,09
Code Enforcement
Housing Cases 29 28 54 74 64 55 62 19 13 156
Public Nuisance Cases 287 345 204 126 165 210 176 46 61 347 Vehicle Cases 67 193 140 118 129 145 133 31 24 370
Weed Abatement Cases 2 108 122 126 124 120 123 26 34 465 Building Permits
Single Family Dwellings 220 291 392 381 649 879 924 601 696 545 Parks and recreation:

Number of recreation classes 56 67 116 126 95 72 176 208 217 253 Number of facility rentals 450 390 1, 598 1, 388 1, 041 617 206 315 254 420 Water:

New connections 179 163 392 381 649 879 924 658 631 877 Average daily consumption 3, 052 3, 274 4, 200 4, 128 4, 128 4, 742 4, 812 4, 926 5, 118 5, 696 thousands of gallons)
Sewer:

New connections 179 163 392 381 649 879 924 658 631 877 Transition to City of Lathrop, Police Department
Source: City of Lathrop
214
338

CITY OF LATHROP
Capital Assets Statistics by Function
Last Ten Fiscal Years
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Police:

Stations
Fire:

Fire Stations ( 1)
Public works:

Streets (miles)
Streetlights
Parks and recreation:

Parks ( 2)
Community centers
Senior centers
Water:

Water mains (miles)
Maximum daily capacity
thousands of gallons)
1 1 1 1 1 1 1 1 1 1

84. 20 84. 20 92.0 92.0 97.0 109. 70 113. 70 128. 94 139. 48 144. 75 1, 472 1, 472 1, 835 1, 835 1, 835 2, 135 2, 135 2,21 2,67 2,50 16 16 18 20 22 25 25 26 29 33
2 2 2 2 2 2 2 2 2 2
1 1 1 1 1 1 1 1 1 1
101. 80 101. 80 101. 80 142. 00 147. 00 159. 00 163. 00 179 189 184 15, 250 15, 250 15, 250 16, 500 16, 500 16, 500 16, 500 13, 000 10, 632 12, 660 Wastewater:

Sanitary sewer ( miles) 71. 00 71. 00 71. 00 91. 80 96. 80 108. 80 111. 80 126.5 135. 40 132. 00 Miles of Reclaimed Water Lines 21. 80 21. 80 21. 80 21. 80 25. 80 27. 80 29. 80 29.6 29.6 29.6 Maximum daily treatment capacity 2,00 1, 450 1, 450 3, 140 3, 140 3, 140 3, 140 3, 950 3, 950 3, 950 thousands of gallons)
NOTE:
1) The City of Lathrop' sfire protection is provided by the Lathrop -Manteca Fire District. 2) Soure: City of Lathrop, Parks and Recreation Guide
Source: City of Lathrop, California departmental sources. 215
339

CITY OF LATHROP
Water Sold by Type of Customer
Last Ten Fiscal Years
in thousands of gallons)
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Type of Customer:

Residential 628, 208 625, 187 745, 39 738, 530 794, 181 907, 150 939, 163 950, 154 1, 009, 692 1,66, 543 Industrial 283, 410 278, 95 395, 110 415,71 406, 181 435, 637 433, 258 530, 793 439,78 389, 62 Commercial 71, 396 101, 549 139, 20 135,30 145,95 152, 476 157, 053 150, 318 169, 354 162,0 Governmental 177, 791 139, 511 149, 952 126, 761 144, 421 199, 28 187, 615 154, 425 137, 806 162, 809 Construction 49, 923 103, 309 91, 038 85, 601 36, 154 39,57 17,22 23, 082 22, 027 Total 1,60, 805 1,95,55 1, 533, 020 1, 506, 930 1, 575,79 1, 730,15 1, 756, 446 1, 802,12 1, 779, 412 1, 903, 191 Total direct rate 3. 99
per 1, 000 gallons $ 3. 04 $ 3. 49 $ 3. 99 $ 3. 99 $ 3. 99 $ 3. 99 $ 3. 99 $ 3. 99 $ 3. 99 $ Source: City of Lathrop, California Public Works Department 216
340

CITY OF LATHROP
Water Rates
Last Ten Fiscal Years
SCSWSP
Monthly Rate per CSCDA Facility
Fiscal Year Base Rate 1, 000 Gallons Loan ( 1) Charge ( 2) 2016
2017
2018
2019
2020
2021
2022
2023
2024
2025

12. 80 3. 04

14. 40 3. 49

16. 30 3. 99

9. 10

9. 10
NOTE:

Rates are based on 5/ 8" meter, which is the standard household meter size. 1) State of California Loan under the Safe Drinking Water Bond Law of 1976 was paid off on March 1, 2001.
2) On July 16, 2003, The City of Lathrop issued $ 32, 530, 000 in Revenue Bonds to finance the acquisition and construction of water system improvements and related facilities, including water treatment facilities and distribuiton pipelines and to pay cost of issuance. The bonds have an ascending interest rate ranging from 3% to 6% and a final maturity date of June 1, 2035.

Source: City of Lathrop, California Finance Department
217
341

CITY OF LATHROP
Ten Largest Water Customers
Current Year and Ten Years Ago
2025 2016
Water Customer
Percent of Percent of
Water Total Water Water Total Water
Charges Rank Revenues Charges Rank Revenue
California Natural Products $ 968, 347 1 8. 24%
City of Lathrop 463,02 2 3. 95% 343, 424 2 6. 38%
Manteca Unified School District 273, 14 3 2. 33% 164,92 3 3. 05% UPS 117, 918 4 1. 00%
Mossdale Landing 106, 293 5 0. 91%
River Islands Public Finance Authority 82, 528 6 0. 70% 41, 917 6 0. 78% Sansome Skyline Lathrop, LP 78, 593 7 0. 67%
Super Store Industries 78, 273 8 0. 67% 105, 616 4 1. 96% 72, 273 9 0. 62% 41, 125 8 0. 76%
Tesla Motors Inc °
IN -N -OUT Burger # 804 68, 053 10 0. 62% 39, 576 9 0. 74% 5 0. 88%
4 , 325 Banta Elementary School District 47, 325
7 0. 77%
Crossroads 447, 37 Commerce Ctr Assoc
3 1 8. 32%
Camino Real Mobile Estates
39, 061
3 10 8. 32%
DSRG
Source: City of Lathrop, California Finance Department
218
342

CITY OF LATHROP
Top 25 Sales Tax Producers
Current Year and Nine Years Ago
2024
Business Name Business Category
Percent of Fiscal Year Total Paid By Top 25 Accounts = 79. 86% Arco AM PM
Ashley Furniture Distribution
Bizon Group
Boral Roofing
CBS Steel
Chevron
Chevron Fast & Easy
Chevron Power Mart
CHI Overhead Doors
Eagles Nest Harley Davidson
Fast Lane
Flying J Travel Plaza
In N Out Burger
Joes Travel Plaza
Johns Manville
Pape Kenworth
Raymond Handling Concepts
Target
TEC Equipment
Tesla
Top Gun Drywall Supply
Tuff Boy Sales
Two Guys Food & Fuel Inc
Wayfair
Western Pacific Crane & Equip
Service Stations
Fulfillment Centers
Warehouse/ Farm/ Const Equip
Contractors
Contractors
Service Stations
Service Stations
Service Stations
Contractors
Boats/ Mortorcycles
Service Stations
Service Stations
Quick - Service Restaruant
Service Stations
Contractors
New Motor Vehicle Dealers
Warehouse/ Farm/ Const Equip
Discount Department Store
Trailers/ Auto Parts
Trailers/ Auto Parts
Building Materials
Trailers/ RVs
Service Stations
Fulfillment Centers
2015
Business Name Business Category
Percent of Fiscal Year Total Paid By Top 25 Accounts = 82. 37% Arco AM PM
Boral Roofing
Carpenter Co
CBC Steel Buidlings
Chevron
Eagles Nest Harley Davidson
Fast Lane
FleetPride
Interior Specialists
Joes Travel Plaza
McDonalds
Medcal Sales
Mikasa Japanese Bistro
Nationwide Fleet
Power Automation Systems
Save Mart
Shell
Target
Top Gun Drywall Supply
Totten Tubes
Tower Mart
Two Guys Food & Fuel Inc
USA Motors
Utility Trailer Sales
Heavy Industrial Walgreens
Service Stations
Contractors
Textile/ Furnishings
Contractors
Service Stations
Boats/ Motorcycles
Service Stations
Tralers/ Auto Parts
Home Furnishings
Service Stations
Quick Service Restaurants
Medical/ Biotech
Casual Dining
Boats/ Motorcycles
Light Industrial/ Printers
Grocery Stores Liquor
Service Stations
Discount Dept Stores
Building Materials
Heavy Industrial
Service Stations
Service Stations
Used Automotive Dealers
Trailer/ RVs
Drug Store
Firms Listed Alphabetically
Period: January 2024 thru December 2024
Source: State Board of Equalization, California Department of Taxes and Fees Administration, State Controller' sOffice. 219
343

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INTENTIONALLY
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344
ITEM 4. 6

CITY MANAGER' S REPORT
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
ITEM: APPROVE OUT OF STATE TRAVEL FOR THE MAYOR TO
ATTEND THE U. S. CONFERENCE OF MAYORS 94th

WINTER MEETING
RECOMMENDATION: Adopt Resolution Authorizing Out of State Travel for the Mayor to Attend the U. S. Conference of Mayors
94th Winter Meeting in Washington, DC, January 27 -
30, 2026
SUMMARY:

The Unites States Conference of Mayors is the official organization of cities with populations of 30, 000 or more. Each city is represented in the conference by its Chief Elected Official, the Mayor. The purpose of the conference is to bring together Mayors of various regions to engage with the White House, Administration, and Congress to ensure that federal policy addresses the priorities of cities. The conference provides the Mayors with the opportunity to attend the Winter and Annual Meetings and serve on the Standing Committee where the Conference' spolicy priorities are shaped.

Through the conference, the Mayors can connect, network, and share best practices with other Mayors. The conference offers many meeting opportunities and in -person events that offer formal and informal opportunities to grow networking, providing support, insight, and camaraderie for many years to come.

City Council approval is requested for out-f- sate travel for Mayor Akinjo to attend the U. S. Conference of Mayors 94th Winter Meeting, in Washington, DC, from January 27, 2026, to January 30, 2026. The estimated cost is approximately $ 5, 000, which includes registration, hotel, airfare, transportation, meals, and minor incidentals. The current City Council training and travel budget for FY 2025-6 has sufficient funds to cover this travel request.

FISCAL IMPACT:

The estimated cost to attend the U. S. Conference of Mayors 94th Winter Meeting is approximately $ 5, 000. Sufficient funds were budgeted for FY 2025-6 in the approved City Council training and travel budget in anticipation of the proposed travel.

ATTACHMENTS:

A. Resolution Approving Out of State Travel to the U. S. Conference of Mayors 94th Winter Meeting to Washington, DC from January 27- 30, 2026.

B. U. S. Conference of Mayors 94th Winter Meeting Registration Information. 345

CITY MANAGER' SREPORT
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
U. S. CONFERENCE OF MAYORS 94th WINTER MEETING
APPROVALS:
esa Vargas
ernment Services Director
City Clerk
Date
Salvador Navarrete Date
City Attorney
PAGE 2
1_ s -10 2. 14,

1. •Zto
Stephen 3. Salvatore Date
City Manager
346
RESOLUTION NO. 26-

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LATHROP

AUTHORIZING OUT OF STATE TRAVEL FOR MAYOR AKINJO TO ATTEND THE U. S. CONFERENCE OF MAYORS 94th WINTER MEETING IN WASHINGTON, DC, JANUARY 27 - 30, 2026
WHEREAS, the U. S. Conference of Mayors is the official organization of cities with populations of 30, 000 or more that allow each city to be represented in the conference by its Chief Elected Official; and
WHEREAS, the U. S Conference offers the elected Mayors to network, providing insight, camaraderie and opportunity to share best practices with other elected Mayors; and
WHEREAS, out of state travel approval is required for the Mayor to attend the U. S Conference of Mayors 94th Winter Meeting to be held in Washington, DC from January 27, 2026 through January 30, 2026; and
WHEREAS, the estimated cost to attend the U. S Conference of Mayors' 93rd Winter Meeting is approximately $ 5, 000, and sufficient funds were budgeted in the approved City Council training and travel budget for FY 2025-6 in anticipation of the proposed travel.

NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Lathrop authorize the out of state travel for Mayor Akinjo to attend and represent the City of Lathrop at the U. S Conference of Mayors 94th Winter Meeting to be held in Washington, DC from January 27, 2026, through January 30, 2026.

The foregoing resolution was passed and adopted this 12th day of January 2026, by the following vote of the City Council, to wit:

AYES:

NOES:

ABSTAIN :

ABSENT:

Paul Akinjo, Mayor
ATTEST: APPROVED AST • FORM:

Teresa Vargas, City Clerk Salvador Navarrete, City Attorney 347
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350
ITEM 4. 7

CITY MANAGER' S REPORT
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
ITEM: APPROVE OUT OF STATE TRAVEL FOR THREE
MEMBERS OF COUNCIL TO ATTEND THE 2026

NATIONAL LEAGUE OF CITIES CONGRESSIONAL

CITY CONFERENCE
RECOMMENDATION: Adopt Resolution Authorizing Out of State Travel for Three Members of Council to Attend the 2026
National League of Cities Congressional City
Conference to Washington D. C., from March 14-8,
2026
BACKGROUND:

The National League of Cities ( NLC) is an organization comprised of city, town, and village leaders dedicated to improving the quality of life for current and future residents. With over 100 years of experience, NLC provides educational programs, resources, and advocacy services focused on strengthening local governments and developing effective local leadership. The organization represents and supports more than 2, 700 cities nationwide.

NLC' s mission is to advocate for and protect the interests of cities, towns, and villages by influencing federal policy, strengthening local leadership, and advancing innovative solutions. To expand educational training opportunities and benefit from NLC' s legislative advocacy and support services, the City of Lathrop became a member city in 2021.

The National League of Cities will host its 2026 Congressional City Conference from March 16-8, 2026, with Executive Education Preconference activities scheduled for March 14-5, 2026, in Washington, D. C. This will be the City Council' s third participation in a National League of Cities Congressional City Conference.

City Council approval is required for out of state travel. Additionally, the attached resolution authorizing travel for Council Members to attend the National League of Cities 2026 Congressional City Conference is also required. The cost per Council Member is approximately $ 6, 000, which includes conference registration, hotel, airfare, transportation, meals ( not provided by the conference), and other minor incidentals.

The adopted Fiscal Year 25-6 budget includes sufficient funding to support this travel for up to three Councilmembers. The City' s current representatives to the National League of Cities are Mayor Akinjo, Vice Mayor Torres -O' Callaghan, and Councilmember Diallo. This action authorizes travel for up to three members of the City Council; however, travel arrangements will be made only after each Councilmember confirms their availability.
351
CITY MANAGER' SREPORT PAGE 2
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
NATIONAL LEAGUE OF CITIES 2026 CONGRESSIONAL CITY CONFERENCE If any of the three Councilmembers are unable to attend, no travel arrangements will be made on their behalf, and the unused funds will be returned to the City Council Training and Travel budget.

FISCAL IMPACT:

The estimated cost per Councilmember is approximately $ 6, 000, which includes conference registration, lodging, airfare, transportation, meals not provided by the conference, and other minor incidental expenses. The adopted Fiscal Year 2025-6 budget includes sufficient funding to support this travel for up to three Councilmembers.

ATTACHMENTS:

A. Resolution Approving Out of State Travel to the 2026 National League of Cities Congressional City Conference to Washington, D. C. from March 14-8, 2026.

B. 2026 National League of Cities Congressional City Conference to Washington, D. C. Registration Information.
352
CITY MANAGER' S REPORT PAGE 3
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
NATIONAL LEAGUE OF CITIES 2026 CONGRESSIONAL CITY CONFERENCE APPROVALS:
eresa Vargas
Government Services Director &
City Clerk
IGO- 6°
Date
Z4
Salvador Navarrete Date
City Attorney
l • ?1c
Stephen J. Salvatore Date
City Manager
353
RESOLUTION NO. 26-

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LATHROP

AUTHORIZING OUT OF STATE TRAVEL FOR THREE MEMBERS OF COUNCIL TO

ATTEND THE NATIONAL LEAGUE OF CITIES CONGRESSIONAL CITY TRIP TO WASHINGTON, D. C. FROM MARCH 14-8, 2026
WHEREAS, the National League of Cities ( NLC) is an organization comprised of city, town and village leaders focused on improving the quality of life for their current and future constituents; and
WHEREAS, the NLC' s mission is to advocate for, and protect the interests of, cities, towns and villages by influencing federal policy, strengthening local leadership and driving innovative solutions; and
WHEREAS, in order to expand educational training opportunities and take advantage of the legislative support services provided by the National League of Cities, the City of Lathrop became a member city in 2021; and WHEREAS, the NLC will be hosting their 2025 Congressional City Conference, March 16th through the 18th, with Executive Education Preconference Activities March 14th through the 15th, in Washington, D. C.; and
WHEREAS, this would be the City Council' sthird time participating in the National League of Cities Congressional City conference; and WHEREAS, City Council approval is required for out of state travel, therefore, the cost per Council Member is approximately $ 6, 000, which includes conference registration, hotel, airfare, transportation, meals ( not provided by the conference), and other minor incidentals; and
WHEREAS, the adopted Fiscal Year 25-6 budget includes sufficient funding to support this travel for up to three Councilmembers. The City' s current representatives to the National League of Cities are Mayor Akinjo, Vice Mayor Torres - O' Callaghan, and Councilmember Diallo; and
WHEREAS, this action authorizes travel for up to three members of the City Council; however, travel arrangements will be made only after each Councilmember confirms their availability. If any of the three Councilmembers are unable to attend, no travel arrangements will be made on their behalf, and the unused funds will be returned to the City Council Training and Travel budget.

NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Lathrop hereby approve out of state travel for three members of Council to attend the National League of Cities 2026 Congressional City Conference, in Washington, D. C.

Resolution No. 26-
354
The foregoing resolution was passed and adopted this 12th day of January 2026, by the following vote of the City Council, to wit:

AYES:

NOES:

ABSENT:

ABSTAIN:

Paul Akinjo, Mayor
ATTEST: APPROVED AS TO FORM:

Teresa Vargas, City Clerk Salvador Navarrete, City Attorney Resolution No. 26-
355
ATTACHMENT" E
NLC
Registration Rates & Details
The Conference Made for Leaders Like Youl
Gain the tools you need to tackle the new federal resources coming to local communities. Connect 1: with your peers and other attendees.

Ways to Register
Online
Registering online is the quickest way to secure your registration and housing!
Phone
Toll -Free:
864) 208-901
International:
747) 226- 7785
For questions about registration contact Maritz Global Events at: nlcamaritz. com. For all other conference -related questions reach out to conferences( anIc. org.

Individual Rates for 2026
Rates below are for 2026 Congressional City Conference. 2026 Rates are subject to change.

Attended CS25 Discount
Nov 21 - J, an 1, 2025
770
NLC Member
845
SML Member
985
Nonmember
Early Bird
Nov 21,025 -
Feb 26, 2026
880
NLC Member
980
SML Member
1, 010
Nonmember
Advance Rate Onsite Rate
Feb 27 - Mar 13 Mar 14 - Mar 18
1, 005 $ 1,05
NLC Member NLC Member
1,05 $ 1, 205
SML Member SML Member
1, 210 $ 1, 310
Nonmember Nonmember
356
NLC
Special Attendee Conference Rates
You may be able to attend the Congressional City Conference if you are considered a special attendee.

First Time Attendee
574.

Youth Delegate/
Youth Chaperone
5355
University Student
S335
Conference Add- Ons
Guest/
Spouse
S300
These are add- ons to the Congressional City Conference registration; they cannot be purchased alone.

Executive Education
LncVi year. f xe, cutive Education offerings are availoble elm race( onferonerr dates Congressional City
Conference'
More details coming soon >
YOU TO
4PSTONE . CYFERE!. CE
Rs iJcs
Hi11 Day
Free with registration
Hill Day is exclusive to Congressional City Conference
attendees who are elected officials, city staff or State Municipal League staff. There is no additional cost.

Questions? Contact us at advocacy@nlc. org
Questions? Contact us at advocacy( cenlc. org.

With so many sessions, workshops, networking events and other opportunities, it is nearly impossible to take in all the conference has to offer just on your own. Consider attending with a group from your city to cover all areas and get the best return on your conference experience for your city.

Groups of five or more will receive a complimentary sixth registration, provided the registrations are paid in full and all individuals are registered at the same time. The following registration categories are not eligible: Spouse/ Gst, Student, Youth Chaperone or Youth Delegates.
357
Members of the media with proper credentials must register for the conference (complimentary) at the Press Registration Desk onsite in the Conference Registration area. Most conference activities are open, but some sessions will be private or closed to the media. Please contact media( cnIc. org for additional support.

Additional Details
t . u l1 l • I L I I I I I ' I , II< ,
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Phulo-' VIIL n n,rl, unx
N
INFAAAi<,, rvl1FAl
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A CI. NIUkY or StUENG7HENING CITILS
https:// www. nlc. org>
fi// II27 238S Info o nlc. org
MyNLC< https:// my. nlc. org/ eweb/ DynamicPage. aspx>
Contact NLC< https:// www. nlc. org/ contact- nlc/>
Jobs at NLC< https:// www. nlc. org/ about/ jobs- atnlc/> Follow y '`
Us
https:// twitter. com/ leagueofcities> https:// www. facebook. c Privacy Policy < https:// www. nlc. org/ about/ privacy/> 358

CITY MANAGER' SREPORT
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING
ITEM:

ITEM 4. 8

OUT-F- SATE TRAVEL APPROVAL FOR THE

ECONOMIC DEVELOPMENT ADMINISTRATOR AND

THE COMMUNITY DEVELOPMENT DIRECTOR TO

ATTEND THE ICSC LAS VEGAS CONFERENCE IN MAY
2026 AND THE ECONOMIC DEVELOPMENT

ADMINISTRATOR TO ATTEND THE IAMC SPRING
2026 FORUM IN LITTLE ROCK, ARKANSAS IN APRIL
2026
RECOMMENDATION: Adopt a Resolution to Authorize Out -of -State Travel for the Economic Development Administrator and
the Community Development Director to Attend and
Represent the City of Lathrop at the ICSC Las Vegas
Conference in Las Vegas, Nevada from May 18,
2026 to May 20, 2026 and the Economic
Development Administrator to attend the IAMC
Spring 2026 Forum on April 18, 2026 to April 22,
2026
SUMMARY:

In an effort to market the City of Lathrop to new job generating businesses and retail establishments that complement the needs and desires of its residents, the Economic Development Administrator and Community Development Director request approval to travel out-f- state to attend the annual ICSC Las Vegas 2026 conference to be held in Las Vegas, Nevada on May 18, 2026 to May 20, 2026.

ICSC Las Vegas focuses on the attraction of commercial retail and shopping center developments.

Additionally, to attract industrial investment opportunities, the Economic Development Administrator requests approval to travel out-f- state to attend the Spring 2026 Industrial Asset Management Council ( IAMC) forum to be held in Little Rock, Arkansas from April 18, 2026 to April 22, 2026. IAMC is a U. S. based industrial and manufacturing real estate trade association BACKGROUND:

The Economic Development Administrator position carries out the economic development activities for the City, including marketing the City for real estate investment that attracts commercial retail and service businesses that support the economic growth and success of our community.

ICSC conferences are held annually to allow networking and deal making opportunities related to the retail industry. Staff preschedules meetings with prospective decision makers thereby allowing an opportunity to showcase the City 359

CITY MANAGER' SREPORT
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING

OUT-F- STATE TRAVEL FOR CITY STAFF
PAGE 2
of Lathrop as a potential location for new business. Traditionally, city staff has participated in the ICSC@Monterey conference in Monterey, California, the ICSC@Western Regional Conference in San Diego and Palm Springs, and the larger International show in Las Vegas, Nevada. In addition to other municipal agencies, attendees at these conferences include key decision makers, site selection consultants, developers, company representatives, and retailers.

Attendance for the Economic Development Administrator and the Community Development Director to attend the ICSC Las Vegas Conference in May 2026 and the Economic Development Administrator to attend the IAMC Spring Forum in April 2026 is being requested. Expenses for this out-f- sate travel request include event registration, airfare, transportation, hotel, and meals. ATTACHMENT " B" identifies the ICSC Las Vegas 2026 Conference at -a -glance tentative schedule and the IAMC Spring 2026 Forum tentative schedule.

REASON FOR RECOMMENDATION:

Staff requests that the City Council adopt the proposed resolution to authorize Out - of -State Travel for two City staff members to participate in the ICSC Las Vegas 2026 conference being held in Las Vegas Nevada from May 18, 2026 to May 20, 2026 and the Economic Development Administrator to attend the IAMC Spring Forum 2026 being held on April 18, 2026 to April 22, 2026 in Little Rock, Arkansas for the purpose of marketing the City for real estate investment and promoting economic growth in the community.

FISCAL IMPACT:

The total cost for meals, hotel, travel, and registration for the ICSC conference is estimated to be $ 4, 800 for both City attendees. The total cost for meals, hotel, travel, and registration for the IAMC Forum is $ 3, 700. Team California sponsorship fees for the ICSC Conference and the IAMC Forum are $ 2,00 and $ 2, 300, respectively. All expenses relating to this conference are within the City Manager Department' s
Economic Development Division and the Community Development Department' sFY 2025-026 budgets as approved by the City Council.

ATTACHMENTS:

A. A Resolution of the City Council of the City of Lathrop to Authorize Out -of - State Travel for the Economic Development Administrator and the Community Development Director to Attend and Represent the City of Lathrop at the ICSC Las Vegas Conference in May 2026 and the Economic Development Administrator to attend the Industrial Asset Management Council ( IAMC) Spring 2026 Forum in Little Rock, Arkansas in April 2026. 360

CITY MANAGER' SREPORT
JANUARY 12, 2O26 CITY COUNCIL REGULAR MEETING

OUT-F- STATE TRAVEL FOR CITY STAFF
PAGE 3
B. ICSC Las Vegas 2026 Conference registration information and IAMC Spring 2026 Forum registration information.
361
B

CITY MANAGER' SREPORT
JANUARY 12, 2026 CITY COUNCIL REGULAR MEETING

OUT-F- STATE TRAVEL FOR CITY STAFF
APPROVALS:
h-&-"
ar: a b
Economic Development Administrator
ick C.• iat
Corn nity Development Director
Cari Jame
Finance Drector
la - 9- 20as
PAGE 4
Date
2 2S
Date
Date
Thomas Hedegard Date
Deputy City Manager
Salvador Navarrete Date
City Attorney
Stephen J. Salvatore Date
City Manager
362
RESOLUTION NO. 26-

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LATHROP TO

AUTHORIZE OUT-F- STATE TRAVEL FOR THE ECONOMIC DEVELOPMENT

ADMINISTRATOR AND THE COMMUNITY DEVELOPMENT DIRECTOR TO

ATTEND AND REPRESENT THE CITY OF LATHROP AT THE ICSC LAS VEGAS CONFERENCE IN MAY 2026 AND THE ECONOMIC DEVELOPMENT

ADMINISTRATOR TO ATTEND THE INDUSTRIAL ASSET MANAGEMENT COUNCIL ( IAMC) SPRING 2026 FORUM IN LITTLE ROCK, ARKANSAS IN APRIL 2026.

WHEREAS, the Economic Development Administrator carries out the economic development activities for the City, including marketing the City for real estate investment that attracts commercial retail and service businesses that support the economic growth and success of our community; and
WHEREAS, staff has identified targeted industry opportunities to market the City for the attraction of industrial and commercial businesses and investment; and WHEREAS, the City will partner with TeamCalifornia to leverage marketing dollars and provide Lathrop greater exposure to corporate decision - makers in attendance; and
WHEREAS, funding identified for marketing events has been considered and approved within the City Manager Department' s
Economic Development Division and
the Community Development Department' s FY 2025-026 budgets.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Lathrop, authorizes out-f- sate travel for the Economic Development Administrator and Community Development Director to attend and represent the City of Lathrop at the ICSC Conference in Las Vegas, Nevada from May 18, 2026 to May 20, 2026 and the Economic Development Administrator to attend the IAMC Spring 2026 Forum from April 18, 2026 to April 22, 2026.

Resolution No. 26- Page 1 of 2
363
The foregoing resolution was passed and adopted this 12th day of January 2026, by the following vote of the City Council, to wit:

AYES:

NOES:

ABSTAIN:

ABSENT:

PAUL AKINJO, MAYOR
ATTEST:

Teresa Vargas, City Clerk Salvador Navarrete, City Attorney APPROVED AS TO FORM:

Resolution No. 26- Page 2 of 2
364
Attachment B
ICSC

LAS VEGAS
ICSC LAS VEGAS Is the Largest Commercial Real Estate Event of the Year Meet over 25, 000 decisionmakers during three days of dealmaking, networking, and cutting -edge content sessions. Get expert advice from the brightest minds in commercial and retail real estate and make groundbreaking deals with the placemakers who are driving innovation in the Marketplaces Industry.

New for 2026! ICSC+ PROPTECH
We' r excited to introduce ICSC, PROPTECH, co -located at ICSC LAS VEGAS, spotlighting the latest in property technology through technology -focused sessions, proptech displays, and curated one-n-e meetings. To sign up, select the ICSC 4 PROPTECH options during registration for ICSC LAS VEGAS.

Schedule At -a -Glance
Monday, May 18 • Wynn
Professional Development
Keynote Presentation
Opening Reception
Tuesday, May 19 • LVCC
8: 00 am - 5: 00 pm • Exhibit Hall Open
10: 00 am -- 4: 30 pm • Sessions*
Wednesday, May 20 • LVCC
8: 00 am - 3: 00 pot • Exhibit Hall Open
10: 00 am - 12: 00 pm • Sessions*
Schedule times are tentative
365
Attachment B
Tentative Schedule
e_tat_ hu-.. r..._ s p* act oear_ aa lr.. tC r-ogram, n- r.^, gt, enchttor:;.- t7G. , mss,_. a. > IJC ? ... 2 ,,.,.., i :.a r•.: ... r_doe ^ a' Saturday. April 1& 2026
Volunteer Service Project
s,_: seaS- ate ran_ -
Board of Directors Meeting
Registration
CO It T - c :Z.:, .:. Early Arrivals Reception
Sunday, April 19. 2026
N' LK: am - Registration
si a ^' - ::: C^' Leadership Seminar. Mind Reading for Managers: 9 Keys to Keep your Best People from Walking out the Door Kim Seeling Smith, du=_ rress 1 ut Jrst' he I uture o?' vtiUrk p. - I:-. 5 Crr Concurrent Interest Group Meetings & Working Lunch' 3S! 5Jtror
at i t as it3nagessent
CaJ prr Corporate Roundtable•
New Member & First -Time Attendee Reception
p" - c,. y: [a-. Welcome Reception & Dinner
Jy o Hospitality Lounge
Monday, April 20, 2026
Fun Run, Walk & log
Breakfast
a - I v. ?.; ; r General Session l: ON FIRE: Ignite a Radically Inspired Life John O' Leary, rsJrns, vu•..::. Sr t'ct,, at O' er Sce3ke• t. tri hat:?.^ dense I, ut _ _ e rr9 F..!. , c Networking Break
IAMC Info Exchange
emature Pro5farr
Lunch
General Session 2: C -Suite Spotlight
Peer -to -Peer Corporates'
IIJ.' d_ Signature Pro_ ran-.
3 L: il prr - `.: ,ri pn-, Peer - to -Peer Associates
r 1i .1•' C Signature Prcy' Sri
n.5_i
prn Networking Reception
x: 0O pr,- sJfx'. Pr- Hospitality Lounge
Tuesday. April 21, 2026
v:.; an - ti.._ ac_ Breakfast
General Session 3: Geopolitical Risk: Emerging Trends & Hot Spots Willis Sparks, Dwe: tc of Globsi klacr of Luria Cht CS
Networking Break
Headshot Photo Booth
Concurrent Workshops, Ti - T4
Concurrent Workshops, T5 • TB
Awards Lunch & Fellows Graduation
Get Some Nelpl
IAMC Townhall Meeting
Networking Reception
Hospitality Lounge
Wednesday, April 22, 2026
a Breakfast
a• t . iu. J_ a, General Session 4s Become an Idea Factory Kyle Scheele.. - Nr,_ S, m^ tof C* az, ti _., rd n! u ,, ;. sz. o t. . t -.e and!_ sta 366
ITEM 4. 9

Lathrop City CouncilJanuary 12, 2026

Lathrop City Council
January 12, 2026