Agenda packet — Livermore City Council, February 10, 2025 (part 1 of 2)

CITY COUNCIL
AGENDA
MONDAY, FEBRUARY 10, 2025
REGULAR MEETING –
7:00 PM

MEETING PARTICIPATION INFORMATION CAN BE FOUND AT THE END OF THE AGENDA

CIVIC CENTER MEETING HALL

CITY COUNCIL CHAMBERS
1016 S. LIVERMORE AVENUE
CITY OF LIVERMORE YOUTUBE CHANNEL:
https://www.youtube.com/c/CityofLivermoreCalifornia
TV29:

Comcast TV Channel 29
tv29live.org
John P Marchand, Mayor
Evan Branning, Vice Mayor
Ben
Barrientos, Council Member
Steven Dunbar, Council Member
Kristie Wang, Council Member
Livermore City Council Agenda
February 10, 2025

1 1.

CLOSED SESSION - NONE

2. CALL TO ORDER

3. PROCLAMATIONS AND PRESENTATIONS - NONE

4. OPEN FORUM

In conformance with the Brown Act, no City Council action can occur on items presented during Open Forum.

To provide public comment in person, please submit a speaker card. When your name is called, walk to the lectern to address City Council.

Comments are limited to a maximum of 3 minutes per person, per item. The Mayor may reduce the amount of time based on the number of persons wishing to speak.

Comments are limited to one comment per person per item regardless of format or time submitted (this includes email and e-comment submissions prior to the meeting as well as live comments during the meeting).

Open Forum will conclude after 30 minutes; however, if there are additional speakers, Open Forum will reconvene before the meeting adjourns.

5. CONSENT CALENDAR

Consent Calendar items are considered routine and are acted upon by the City Council with a single action. Members of the audience wishing to provide public input must submit a speaker card found at the entrance of the Council Chambers. A speaker is limited to a single comment with a maximum of three minutes for the entire Consent Calendar. If Consent Calendar items are pulled for discussion by the City Council, a speaker will be allowed one comment per item on the items pulled for discussion and a separate comment for the remaining Consent Calendar. The one comment limit applies regardless of format or time submitted (this includes email and e-comment submissions prior to the meeting as well as live comments during the meeting).

5.1 Approval of draft minutes - January 27, 2025 Regular Meeting

Recommendation:

Staff recommends the City Council approve the draft minutes.

Staff Report

Attachments:

1. DRAFT 2025-01-27

ROLL CALL

Council Member Ben Barrientos
Council Member Steven Dunbar
Council Member Kristie Wang
Vice Mayor Evan Branning
Mayor John Marchand

PLEDGE OF ALLEGIANCE

Livermore City Council Agenda
February 10, 2025

2 5.2
Introduce an ordinance and waive the first reading amending Livermore Municipal Code Section 13.36.050 Rates Per Service Unit to streamline the rate setting process and improve consistency with the water rate setting process.

Recommendation:

Staff recommends the City Council
introduce an ordinance
and waive the first reading
amending Livermore Municipal Code section 13.36.050 Rates per Service Unit to streamline the rate setting process and improve consistency with the water rate setting process.

Staff Report

Attachments:

1. Ordinance

5.3 Introduce an ordinance and waive the first reading establishing a permanent Building Appeals Board by adding new chapter 15.90 to the Livermore Municipal Code and amending sections

8.15.125, 15.20.100, 15.20.110, and 15.20.120.

Recommendation:

Staff recommends the City Council
introduce an ordinance
and waive the first reading
establishing a permanent Building Appeals Board by adding new chapter 15.90 to the Livermore Municipal Code and amending sections 8.15.125, 15.20.100, 15.20.110, and

15.20.120
for consistency with the new Appeals Board.

Staff Report

Attachments:

1. Ordinance

2. Exhibit A - Chapter 15.90 Building Appeals Board

3. Exhibit B - Amendments to LMC Sections 8.15.125, 15.20.100, 15.20.110, and 15.20.120

5.4 Resolution authorizing execution of a fourth amendment to the agreement with Ruggeri- Jensen-Azar for on-call engineering design services, increasing the not-to-exceed amount from $1,800,000 to $2,400,000 with a term ending December 31, 2026.

Recommendation:

Staff recommends City Council adopt a resolution authorizing the City Manager to execute a fourth amendment to the agreement with Ruggeri-Jensen-Azar for on-call engineering design services for various development projects and capital improvement projects, increasing the not-to-exceed contract amount from $1,800,000 to $2,400,000.

Staff Report

Attachments:

1. Resolution

2. Exhibit A - Fourth Amendment

5.5 Resolution authorizing execution of a fourth amendment to the agreement with JR Structural Engineering, Inc. for project management services for various capital improvement projects, increasing the not-to-exceed contract amount from $910,000 to $1,510,000 with a term ending December 31, 2026.

Livermore City Council Agenda
February 10, 2025

3 Recommendation:

Staff recommends City Council adopt a resolution authorizing the City Manager to execute a fourth amendment to the agreement with JR Structural Engineering, Inc. for project management services for various capital improvement projects, increasing the not-to-exceed contract amount from $910,000 to $1,510,000 with a term ending December 31, 2026.

Staff Report

Attachments:

1. Resolution

2. Exhibit A - Fourth Amendment

5.6 Resolution authorizing a supplemental appropriation of Traffic Impact Fee Fund 510 in the amount of $200,000 to complete the analysis for the Traffic Impact Fee Nexus Study.

Recommendation:

Staff recommends City Council adopt a resolution authorizing a supplemental appropriation of Traffic Impact Fee Fund 510 in the amount of $200,000 to the FY 2024-25 engineering operating budget to complete the analysis for the Traffic Impact Fee Nexus Study.

Staff Report

Attachments:

1. Resolution

5.7 Resolution accepting the Annual Comprehensive Financial Report (ACFR) and Other Audit Reports for the Fiscal Year ended June 30, 2024.

Recommendation:

Staff recommends the City Council adopt a resolution accepting the following reports for Fiscal Year 2023-24 as completed:

Annual Comprehensive Financial Report, and ratify and approve the audited financial statements presented therein in accordance with Government Code §37208; Alameda County Transportation Commission Measure B Program Financial Statements;
Alameda County Transportation Commission Measure BB Program Financial Statements;
Alameda County Transportation Commission Vehicle Registration Fee (VRF) Measure F Program Financial Statements;
Agreed Upon Procedures for Compliance with the Proposition 111 2023-24 Appropriations Limit Increment;
Memorandum of Internal Control; and
Required Communications.

Staff Report

Attachments:

1. Resolution

2. Exhibit A - Annual Comprehensive Financial Report

Livermore City Council Agenda
February 10, 2025

4 3. Exhibit B - ACTC Measure B Funds Financial Statements

4. Exhibit C - ACTC Measure BB Funds Financial Statements

5. Exhibit D - ACTC Vehicle Registration Fee Program (VRF) Financial Statements

6. Exhibit E - Independent Accountant's Report on Applying Agreed Upon Procedures Related to the Article XIII-B Appropriations Limit Calculation

7. Exhibit F - Independent Auditor's Report on Internal Control Over Financial Reporting on Compliance and Other Matters

8. Exhibit G - Required Communications

5.8 Resolution amending the City of Livermore Salary Plan dated February 2025 in accordance with California Code of Regulations, Title 2, Section 570.5 and establish a new classification of Supervising Crime and Intelligence Analyst (Class Code 4152) and assign it to the Association of Livermore Employees salary schedule.

Recommendation:

Staff recommends approving a resolution amending the City of Livermore Salary Plan dated February 2025 in accordance with California Code of Regulations, Title 2, Section 570.5 and establish a new classification of Supervising Crime and Intelligence Analyst (Class Code 4152) and assign it to the Association of Livermore Employees salary schedule.

Staff Report

Attachments:

1. Resolution

2. Exhibit A - Salary Plan effective February 2025

6. PUBLIC HEARINGS

6.1 Resolution authorizing the City Manager to execute a Renewable Energy & Storage Power Purchase Agreement with Ava Community Energy and determining that the agreement is in the City’s best interest.

Recommendation:

Staff recommends the City Council adopt two resolutions:
1 .

Determining the project is exempt from the California Environmental Quality Act (CEQA) because it is consistent with California Public Resources Code section 21080.35, which provides that solar energy systems installed on the roof of an existing building or on an existing parking lot, meeting certain characteristics, are exempt from CEQA. 2 .

Authorizing the City Manager to execute a Renewable Energy & Storage Power Purchase Agreement between the City and Ava Community Energy in substantially the same form as the draft agreement, subject to the City Attorney's approvals as to form, pursuant to the California Government Code (sections 4217.10 through 4217.18), and determining pursuant to California Government Code section 4217.12 that the agreement is in the City’s best interest because the anticipated energy costs will be less than the marginal cost the City would otherwise pay for the consumed energy, which savings will also offset any potential revenue from Ava to place its equipment on City

Livermore City Council Agenda
February 10, 2025

5 facilities.

Staff Report

Attachments:

1. Resolution - Ava PPA CEQA

2. Resolution - Ava PPA Approval

3. Exhibit A - Draft Renewable Energy & Storage Power Purchase Agreement

7. MATTERS FOR CONSIDERATION

7.1 Resolution adopting 180-day wait period exception to hire retired annuitant, Michael Pato, former Senior Management Analyst, in accordance with Government Code section 7522.56 of the Public Employees' Retirement Law.

Recommendation:

Staff recommends that the City Council adopt a resolution approving the hiring of retired annuitant, Michael Pato, former Senior Management Analyst, in accordance with Government Code section 7522.56 of the Public Employees' Retirement Law.

Staff Report

Attachments:

1. Resolution

2. Exhibit A - Offer Letter with Enclosures

8. COUNCIL COMMITTEE REPORTS AND MATTERS INITIATED BY CITY

MANAGER, CITY ATTORNEY, AND COUNCIL MEMBERS

9. ADJOURNMENT

To a Regular City Council meeting on Monday, February 24, 2025 at 7:00 pm, Civic Center Meeting Hall, City Council Chambers, 1016 S. Livermore Avenue.

10. SUPPLEMENTAL MATERIALS

10.1 Supplemental materials received prior to the meeting.

Staff Report

Attachments:

1. Supplemental Materials

10.2 Supplemental materials received at the meeting.

Staff Report

Attachments:

1. Item Received at the Meeting

11. HOW TO PARTICIPATE IN YOUR CITY COUNCIL MEETING

Livermore City Council Agenda
February 10, 2025

6 You can participate in the meeting in a number of ways:

Open Forum
is an opportunity for the public to speak regarding items not listed on the agenda. Speakers are limited to a maximum of 3 minutes per person. To address the City Council in person, you must submit a speaker card to the City Clerk prior to the start of that item. Please note that the City Council is prohibited by State law from taking action on any items that are not listed on the agenda. However, if your item requires action, the City Council may place it on a future agenda or direct staff to work with you and/or report to the City Council on the issue.

Public Hearings
- The topic of the hearing is typically summarized by staff, followed by a presentation by the applicant, and questions from the City Council. The Mayor will then open the hearing to the public and offer an opportunity for public comments. Speakers are limited to a maximum of 3 minutes per person. To address the City Council in person, you must submit a speaker card to the City Clerk prior to the start of the presentation of the item.

Other Agenda Items
are also open for public input including Consent Calendar or Matters for Consideration items. These comments are also subject to the 3-minute limit.

Special Meetings, Workshops
- The public will have the opportunity to address the City Council regarding the item that is the subject of the special meeting or workshop. Public comments are limited to a maximum of 3 minutes per person.

Platforms to Participate in Meetings:

Submission of Comments Prior to the Meeting:

Email Comments
may be submitted by the public to the City Clerk’s Office (
[email protected]
). Items received no later than 12:00 pm on the day of the meeting will be provided to the City Council and available on the City website prior to the meeting. These items will NOT be read into the record.

eComments
may be submitted by the public using the eComment link
here
. Comments may
be up to 1000 characters in length and will be accepted up until 4:00 pm the day of the meeting. These items will NOT be read into the record and are viewable by the City Council and the public upon submittal.

Submission of Comments During the Meeting:

Speakers are limited to a maximum of 3 minutes per person. To submit a comment you must complete a speaker card for each item. Speaker cards are available in the Civic Center Meeting Hall lobby. Indicate on the card the item number you wish to comment on and submit the card directly to the City Clerk prior to the start of the item. Please note that the City Council is prohibited by State law from taking action on any items that are not listed on the agenda.

However, if your item requires action, the City Council may place it on a future agenda or direct staff to work with you and/or report to the City Council on the issue.

The City will be using YouTube and TV29 as two tools to provide the public access to view Livermore City Council Agenda
February 10, 2025

7 City Council meetings. No public comment will be accepted via YouTube.

TV29:
tv29live.org
Comcast Cable 29
YouTube:
http://youtube.com/c/CityofLivermoreCalifornia

If you would like to deliver written materials to the City Council as part of your public comment, please provide 10 copies to the City Clerk with your speaker card.

The
City Council Agenda and Agenda Reports
are prepared by City staff and are available
for public review on Tuesday evening, six days prior to the City Council meeting in the Civic Center Library, 1188 South Livermore Avenue, Livermore, and at the City Clerk’s Office, 1052 South Livermore Avenue, Livermore. The Agenda is also available on the City’s website, http://LivermoreCA.gov/agenda
.

Under Government Code §54957.5, any
supplemental material
distributed to the members
of the City Council after the posting of this agenda will be available for public review in the City Clerk’s Office, 1052 South Livermore Avenue, Livermore, and included in the agenda packet available on the City’s web site at
http://LivermoreCA.gov/agenda
.

PURSUANT TO TITLE II OF THE AMERICANS WITH DISABILITIES ACT (CODIFIED AT 42 UNITED STATES CODE SECTION 12101 AND 28 CODE OF FEDERAL REGULATIONS PART 35), AND SECTION 504 OF THE REHABILITATION ACT OF 1973, THE CITY OF

LIVERMORE DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGION,

NATIONAL ORIGIN, ANCESTRY, SEX, DISABILITY, AGE OR SEXUAL ORIENTATION IN THE PROVISION OF ANY SERVICES, PROGRAMS, OR ACTIVITIES. TO ARRANGE AN

ACCOMMODATION IN ORDER TO PARTICIPATE IN THIS PUBLIC MEETING, PLEASE

CONTACT THE ADA COORDINATOR AT
[email protected]
OR
CALL (925) 960-4170 (VOICE) OR (925) 960- 4104 (TDD) AT LEAST THREE (3) BUSINESS DAYS IN ADVANCE OF THE MEETING.

Livermore City Council Agenda
February 10, 2025

8 CITY COUNCIL STAFF REPORT
ITEM NO. 5.1

DATE:

February 10, 2025
TO:

Honorable Mayor and City Council
FROM:

Marianna Marysheva, City Manager
SUBJECT:

Approval of draft minutes - January 27, 2025 Regular Meeting

RECOMMENDED ACTION

Staff recommends the City Council approve the draft minutes.

SUMMARY

DISCUSSION

ATTACHMENTS

1. DRAFT 2025-01-27

Prepared by: Debbie Elam
City Clerk

Approved by:
____________________________________
Marianna Marysheva
City Manager
Fiscal Review by:
____________________________________
Tina Olson
Administrative Services Director
9 JANUARY 27, 2025 Minutes CM/75/1
CI

TY COUNCIL
JANUARY 27, 2025
________________________________________________________________ C

LOSED SESSION
CAL
L TO ORDER – The Closed Session of the City Council was called to order by Mayor John Marchand at 6:30 pm, held in person at 1016 S. Livermore Avenue.

RO
LL CALL – Present: Mayor John Marchand, Vice Mayor Evan Branning, Council Members, Ben Barrientos, Steven Dunbar, and Kristie Wang.

PPORTUNITY FOR THE PUBLIC TO ADDRESS THE CITY COUNCIL
REGARDING CLOSED SESSION ITEMS.

Ma
yor Marchand opened the public comment period.

T
here were no speakers, and the public comment period was closed.

1. ADJ

OURN TO CLOSED SESSION

1.1 Public Employee Performance Evaluation. City Attorney Goal Setting for 2024-25 Review, pursuant to Government Code section 54957. ________________________________________________________________ RE

GULAR MEETING

2. CALL T O ORDER – T he meeting of the City Council was called to order by Mayor John Marchand at 7:01 pm, held in person at 1016 S. Livermore Avenue.

RO
LL CALL – Present: Mayor John Marchand, Vice Mayor Evan Branning, Council Members Ben Barrientos, Evan Branning, and Kristie Wang.

LEDGE OF ALLEGIANCE
RE

PORT OF ACTION TAKEN IN CLOSED SESSION
C
ity Attorney Jason Alcala stated there was no reportable action.

3. PROCLAMATIONS AND PRESENTATIONS

3.1 Library Board of Trustees annual update presented by Chair Richard Hunt.

ATTACHMENT 1
10 CM/75/2 Minutes JANUARY 27, 2025

Library Board of Trustees Chair Richard Hunt provided the annual update.

Mayor Marchand reordered the agenda moving Open Forum after Item 8.

5. CONSENT CALENDAR

City Clerk, Deborah Elam announced that the vote for Item 5.1 needs to be bifurcated.

Mayor Marchand opened the public comment period.

There were no speakers, and the public comment period was closed.

ON THE MOTION OF VICE MAYOR BRANNING, SECONDED BY COUNCIL MEMBER DUNBAR AND CARRIED ON A 5 -0 VOTE, THE CITY COUNCIL

APPROVED THE CONSENT CALENDAR WITH THE EXCEPTION OF T HE MINUTES FROM DECEMBER 9, 2024.

ON THE MOTION OF MAYOR MARCHAND, SECONDED BY VICE MAYOR BRANNING, AND CARRIED ON A 3-0 VOTE, THE CITY COUNCIL APPROVED THE MINUTES FROM DECEMBER 9, 2024 . COUNCIL MEMBERS DUNBAR AND WANG ABSTIANED DUE TO THEIR INELIGIBILITY TO VOTE.

5.1 Approval of draft minutes - December 9, 2024 Regular Meeting and January 13, 2025 Regular Meeting

5.2 Resolution 2025-008 awarding a construction contract with McGuire and Hester in an amount not-to exceed $2,434,000 for the construction of the Flagpole Plaza Project 2022-25.

5.3 Resolution 2025-009 declaring the intention to add Assessor’s Parcel Number 904- 0010-002-10 (SMP 40 project, located at the southern end of Discovery Drive and Atlantis Court) to the Future Annexation Area for the City of Livermore Community Facilities District No. 2021 -1 (Maintenance and Public Services).

5.4 Resolution 2025-010 authorizing the execution of a third amendment to the Agreement with Lawrence Livermore National Security, LLC for landscape maintenance services to extend the term through January 31, 2030.

5.5 Resolution 2025-011 awarding and authorizing the execution of an agreement with HQ Construction Co. Inc. to perform on-call special project general contracting in an amount not -to-exceed $1,600,000 for a five- year term ending January 31, 2030.

5.6 Resolution 2025-012 awarding and authorizing the execution of an agreement with Prime Mechanical Services Inc. to perform HVAC maintenance and repairs at all City-owned buildings in an amount not-to-exceed $1,800,000 for ATTACHMENT 1
11 JANUARY 27, 2025 Minutes CM/75/3

a five-year term ending February 28, 2030.

6. PUBLIC HEARINGS

6.1 Hearing to consider a request for Vesting Tentative Tract Map, Site Plan Design Review and Conditional Use Permit to develop vacant land located at the northwest corner of the Collier Canyon Road and Constitution Drive intersection, with a residential project known as Cornerstone.

Recommendation: Staff recommended the City Council adopt resolutions:

1. Finding that the project is exempt under the California Environmental Quality Act, in accordance with California Government Code Section 65457 and CEQA Guidelines Section 15182 (c), Projects Pursuant to a Specific Plan, and California Public Resources Code Section 21083.3 and CEQA Guidelines Section 15183, Projects Consistent with a Community Plan, General Plan, or Zoning;

2. Approving Vesting Tentative Tract Map (VTTM) 8669 – Subdivision (SUB) 22-006, Site Plan Design Review (SPDR) 22- 004, and Conditional Use Permit (CUP) 24 -009, subject to the attached Conditions of Approval; the requested Density Bonus Waivers and Incentive/Concessions; and the No Net Loss findings; and

3. Directing the Planning Manager to file a Notice of Exemption, in accordance with the provisions of the California Environmental Quality Act, subject to project approval.

Assistant Planner Emily LaDue presented the staff report.

Project Applicant Chris Stockhaus, Lead Pastor Cornerstone Church provided a comment.

Project Applicant Michael Keany, Director of Forward Planning of Trumark Homes, provide a comment.

Mayor Marchand opened the public hearing.

Brian Werner provided a comment.

Julie Wild provided a comment.

There were no more speakers, and the hearing was closed.

ON THE MOTION OF COUNCIL MEMBER DUNBAR, SECONDED BY VICE MAYOR BRANNING AND CARRIED ON A 4-1 VOTE, WITH COUNCIL MEMBER

BARRIENTOS VOTING AGAINST, THE CITY COUNCIL ADOPTED THE FOLLOWING RESOLUTIONS:

Resolution 202 5-013 finding that the Cornerstone project is exempt from the provisions of the California Environmental Quality Act (CEQA).

ATTACHMENT 1
12 CM/75/4 Minutes JANUARY 27, 2025
Res
olution 2025-014 approving the vesting tentative tract map (VTTM) 8669 – subdivision (SUB) 22- 0006, site plan design review (SPDR) 22- 004, and conditional use permit (CUP) 24- 009, and find no net loss for the Cornerstone project.

7. MATT

ERS FOR CONSIDERATION

7.1 Creat
ion of a City Council ad-hoc subcommittee for the upcoming Planning Commissioner interviews.

Rec
ommendation: Staff recommended that the City Council appoint an ad- hoc subcommittee to create interview questions, review applications, and determine the number of qualified Planning Commission applicants to be interviewed by the full City Council on March 3, 2025.

City Cle
rk Deborah Elam presented the staff report.

Mayo
r Marchand opened the public comment period.

There w
ere no speakers, and the public comment period was closed.

ON TH

E MOTION OF MAYOR MARCHAND, SECONDED BY COUNCIL
MEMBER BARRIENTOS AND CARRIED ON A 5-0 VOTE, THE CITY COUNCIL

APPROVED AN AD-HOC SUBCOMMITTEE OF VICE MAYOR BRANNING AND

COUNCIL MEMBER DUNBAR AND HOLDING SEVEN INTERVIEWS ON
MARCH 3, 2025.

8. COUNCIL

COMMITTEE REPORTS AND MATTERS INITIATED BY CITY

MANAGER, CITY ATTORNEY, STAFF AND COUNCIL MEMBERS
THE M

AYOR AND CITY COUNCIL MEMBERS PROVIDED A SUMMARY OF

RECENTLY ATTENDED EVENTS AND MEETINGS IN ADDITION TO THE INFORMATION PROVIDED IN THE SUPPLEMENTAL PACKET. COUNCIL

MEMBERS WHO DID NOT PROVIDE A SUMMARY IN THE SUPPLEMENTAL PACKET ARE INCLUDED BELOW.

City
of Livermore Council Member Dunbar noted his attendance at the Civic Appreciation Dinner on January 16,2025.

Liver
more Area Recreation and Park District (LARPD) Council Member Wang noted her attendance at the ribbon cutting ceremony for the Patterson Ranch Trail on January 22, 2025
StopW
aste.org Council Member Barrientos noted his attendance at a Board Meeting on January 22, 2025.

Vic
e Mayor Branning requested that staff repost information to the community that ATTACHMENT 1
13 JANUARY 27, 2025 Minutes CM/75/5
the City of Livermore is a safe and welcoming place.

City
Council directed staff to add the review of the City Council Rules of Procedure to a future City Council agenda.

4. OPEN FORUM
May
or Marchand opened the public comment period.

Gr
eg Scott provided a comment.

John Fr
eeman provided a comment.

Ph
illip Brown provided a comment.

Mar
y Perner provided a comment.

Ther
e were no more speakers, and the public comment period was closed.

9. ADJOURNMENT – at 8: 29 pm to a Regular City Council Meeting on Monday, February 10, 2025, at 7:00 pm, Civic Center Meeting Hall, City Council Chambers, 1016 S. Livermore Avenue.

APPRO
VED:
______
____________________
JOHN P. MARCHAND, MAYOR
ATTE
ST: ___________________________
DEBORAH L. ELAM, CITY CLERK
ATTACHMENT 1
14 CITY COUNCIL STAFF REPORT
ITEM NO. 5.2

DATE:

February 10, 2025
TO:

Honorable Mayor and City Council
FROM:

Judy Erlandson, Acting Public Works Director
SUBJECT:

Introduce an ordinance and waive the first reading amending Livermore Municipal Code Section 13.36.050 Rates Per Service Unit to streamline the rate setting process and improve consistency with the water rate setting process.

RECOMMENDED ACTION

Staff recommends the City Council
introduce an ordinance
and waive the first reading amending
Livermore Municipal Code section 13.36.050 Rates per Service Unit to streamline the rate setting process and improve consistency with the water rate setting process.

SUMMARY
Livermore Municipal Code Chapter 13.36 "Sewer Service and Use Charges" establishes the purpose and means to raise revenue for the cost of maintenance, construction, operation and improvement of the City's wastewater facilities used for the collection, treatment, and disposal of sewage, and the reclamation of water as a by-product. Amending Chapter 13.36, section 13.36.050 will streamline the sewer service charge rate setting process and make the language consistent with water rate setting process.

DISCUSSION
Livermore Municipal Code Title 13 "Public Services" contains various chapters establishing the rate setting process and method for adoption of service charges for water, wastewater, and stormwater. With the exception of section 13.36.050, the other relevant code sections allow the Council to set water and stormwater rates by resolution. Currently, section 13.36.050 requires adoption of rates and fees by uncodified ordinance of the City Council and lacks language regarding periodic restudy and recalculation of fees. Shifting to a resolution-based approval process will still be subject to the provisions of Proposition 218 with respect to rates and the cost of service, but it will streamline the adoption process requiring fewer Council actions and less staff time.

FISCAL AND ADMINISTRATIVE IMPACTS

15 The proposed amendment to section 13.36.050 will not result in any fiscal impacts and will reduce staff time required to process rate adjustments in the future.

COMMUNITY PILLAR

1: A Safe Community That Thrives
GOAL

11: Operate and maintain municipal water systems that provide safe, efficient delivery of potable and recycled water, collect and treat wastewater, and comply with all federal, state, and local regulations.

ATTACHMENTS

1. Ordinance

Prepared by: Laura Mayate-DeAndreis
Management Analyst II

Approved by:
____________________________________
Marianna Marysheva
City Manager
Fiscal Review by:
____________________________________
Tina Olson
Administrative Services Director
16 1 ORDINANCE NO.

IN THE CITY COUNCIL OF THE CITY OF LIVERMORE, CALIFORNIA

AN ORDINANCE AMENDING LIVERMORE MUNICIPAL CODE
CHAPTER 13.36 SEWER SERVICE AND USE CHARGES SECTION 13.36.050

RATES PER SERVICE UNIT

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LIVERMORE DOES ORDAIN AS FOLLOWS:

Section 1. Amendment. The Livermore Municipal Code is hereby amended to read as shown below. The deletions are shown using a strikethrough, and the added language is shown with an underline, but the stricken language and underlines themselves shall not be codified in the Municipal Code, which publication shall only reflect the final language.

13.36.050 Rates per service unit.

Periodically, the City Council may restudy and recalculate fees. The residential, commercial and institutional user charges for each month of sewer service shall be established by resolution uncodified ordinance of the City Council.

Section 2. Environmental. This amendment to the Livermore Municipal Code is not a project as defined by the California Environmental Quality Act (CEQA) Guidelines Section 15378 and therefore, is not subject to environmental review.

The adoption of this ordinance is exempt from the requirements of the California Environmental Quality Act (CEQA) under the common sense exemption set forth in CEQA Guidelines Section 15061(b)(3) in that CEQA applies only to projects which have the potential for causing a significant effect on the environment. Where it can be seen with certainty that there is no possibility that the ordinance may have a significant effect on the environment, it is not subject to CEQA.

Section 3. Severability. If any part of this ordinance is declared invalid by a court, such invalidity shall not affect any of the remaining parts.

Section 4. Publication. This ordinance shall be published once in a newspaper of general circulation of the city of Livermore within fifteen days after its adoption.

Section 5. Effective date. This Ordinance shall take effect 30 days after its adoption.

The foregoing ordinance was introduced at the meeting of the City Council of the City of Livermore held on February 10, 2025, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
17 2 ORDINANCE NO.

The ordinance was adopted at the regular meeting of the City Council held on ______________________, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
________________________________
Mayor, City of Livermore
ATTEST: APPROVED AS TO FORM:
___________________________ /s/ Tara Mazzanti__________________ Deborah L. Elam Tara Mazzanti
City Clerk Senior Assistant City Attorney
18 CITY COUNCIL STAFF REPORT
ITEM NO. 5.3

DATE:

February 10, 2025
TO:

Honorable Mayor and City Council
FROM:

Brent Smith, Community Development Director
SUBJECT:

Introduce an ordinance and waive the first reading establishing a permanent Building Appeals Board by adding new chapter 15.90 to the Livermore Municipal Code and amending sections 8.15.125, 15.20.100, 15.20.110, and 15.20.120.

RECOMMENDED ACTION

Staff recommends the City Council
introduce an ordinance
and waive the first reading
establishing a
permanent Building Appeals Board by adding new chapter 15.90 to the Livermore Municipal Code and amending sections 8.15.125, 15.20.100, 15.20.110, and 15.20.120 for consistency with the new Appeals
Board.

SUMMARY
Section 1.8.8 of the California Building Code and California Health and Safety Code Sections 17920.5 and 17920.6 allow for the creation of a Building Appeals Board. The proposed ordinance would create a three-member Building Appeals Board to hear and decide appeals of orders, decisions, and determinations made by City staff relative to the application and interpretation of the California Building Code and other regulations governing construction, use, maintenance, and change of occupancy. Staff recommends adding chapter 15.90, Building Appeals Board, to Title 15 (Buildings and Construction) to create a Building Appeals Board to hear appeals related to the Building Code and amending sections

8.15.125, 15.20.100, 15.20.110, and 15.20.120 for consistency.

DISCUSSION
On March 6, 2024, the California Court of Appeals clarified that local jurisdictions must comply with the appeals processes outlined in the California Building Code for all appeals involving state and local building code violations and any public nuisance determinations based on those violations. Section 1.8.8 of the California Building Code requires local jurisdictions to establish a process to hear and decide administrative appeals of orders, decisions, and determinations made by the local jurisdiction relative to the application and interpretation of the California Building Code and other regulations governing construction, use, maintenance, and change of occupancy. Previously, building code appeals were required to be heard by the City Council, however, the Building Code permits local jurisdictions to 19 establish an appeals board comprised of individuals knowledgeable in applicable building codes, regulations, and ordinances to hear and decide these appeals.

By establishing the Building Appeals Board, the Livermore City Council delegates its authority to hear and decide appeals of building code violations as specified in Section 1.8.8 of the California Building Code to the Building Appeals Board established pursuant to this ordinance.

Staff is recommending the creation of a three-member Building Appeals Board that would be responsible for hearing and deciding appeals of orders, decisions, and determinations made by city staff. The proposed ordinance specifies the creation, composition, staffing, powers and duties, procedures for appeals and how appeals are heard. The following is a summary of some of the key provisions in the draft ordinance:

Members would be appointed by the City Council.

Members would be required to have knowledge of State and local Building Codes.

Members are not required to be Livermore residents and would serve without compensation.

The Building Official or designee would serve as secretary to the Board but would not be able to vote on matters before the Board.

This ordinance establishes the permanent Building Appeals Board, replacing the interim Building Appeals Board created by the City Council in May 2024. Furthermore, at the February 24, 2025meeting, staff will recommend that Council officially appoint the interim Board members as permanent members.

FISCAL AND ADMINISTRATIVE IMPACTS

None

COMMUNITY PILLAR

1: A Safe Community that Thrives

GOAL

14: Update Development Standards, Codes, and Ordinances

ATTACHMENTS

1. Ordinance

2. Exhibit A - Chapter 15.90 Building Appeals Board

3. Exhibit B - Amendments to LMC Sections 8.15.125, 15.20.100, 15.20.110, and 15.20.120

Prepared by: Franc Moufarrej
Chief Building Official

20 Approved by:
____________________________________
Marianna Marysheva
City Manager
Fiscal Review by:
____________________________________
Tina Olson
Administrative Services Director
21 1 ORDINANCE NO.

IN THE CITY COUNCIL OF THE CITY OF LIVERMORE, CALIFORNIA

AN ORDINANCE ESTABLISHING A BUILDING APPEALS BOARD BY ADDING NEW CHAPTER 15.90 TO THE LIVERMORE MUNICIPAL CODE AND AMENDING SECTIONS 8.15.125, 15.20.100, 15.20.110, AND 15.20.120 FOR CONSISTENCY

WITH THE NEW BOARD
On March 6, 2024, the California Court of Appeal clarified that local jurisdictions must comply with the appeals processes outlined in the California Building Code for all appeals involving state and local building code violations and any public nuisance determinations based on those violations. Section 1.8.8 of the California Building Code requires local jurisdictions to establish a process to hear and decide administrative appeals of orders, decisions, and determinations made by the local jurisdiction relative to the application and interpretation of the California Building Code and other regulations governing construction, use, maintenance, and change of occupancy. Said appeals must be heard by the City Council, but the Building Code permits local jurisdictions to establish an appeals board comprised of individuals knowledgeable in applicable building codes, regulations, and ordinances to hear and decide these appeals.

On May 16, 2024, the City Council adopted resolution 2024-076 establishing an Interim Appeals Board after receiving an appeal to a notice and order to abate certain violations to the Livermore Municipal Code and the California Building Code. The resolution also directed staff to prepare an ordinance establishing a permanent Appeals Board. This ordinance establishes said Appeals Board.

On February 24, 2025, the City Council appointed the members of the Interim Appeals Board to the new permanent Building Appeals Board.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LIVERMORE DOES ORDAIN AS FOLLOWS:

Section 1. Addition to the Code. A new Chapter 15.90 Building Appeals Board, is hereby added to Title 15 Buildings and Construction in the Livermore Municipal Code, as set forth in Exhibit A, attached hereto.

Section 2. Amendment. C hapter 8. 15 Procedure for Abatement of Public Nuisances Section 8.15.125 Appeal of Building Code Violations , and Chapter 15.20 Dangerous Buildings Sections 15.20.100 Administrative Hearing , 15.20.110 Written Decision and Order , and 15.20.120 Appeal to City Council are hereby amended and restated as set forth in Exhibit B, attached hereto. In Exhibit B, the deletions are shown using a strikethrough, and the added language is shown with an underline, but the stricken language and underlines themselves shall not be codified in the Municipal Code, which publication shall only reflect the final language.

Section 3. Environmental. The passage of this ordinance is not a project according to the definition in the California Environmental Quality Act and, therefore, is not subject to the provisions requiring environmental review. 22 2 ORDINANCE NO.

Section 4. Severability. If any part of this ordinance is declared invalid by a court, such invalidity shall not affect any of the remaining parts.

Section 5. Publication. This ordinance shall be published once in a newspaper of general circulation of the city of Livermore within fifteen days after its adoption.

Section 6. Effective date. This Ordinance shall take effect 30 days after its adoption.

The foregoing ordinance was introduced at the meeting of the City Council of the City of Livermore held on February 10, 2025, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

The ordinance was adopted at the regular meeting of the City Council held on ______________________, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
________________________________
Mayor, City of Livermore
ATTEST: APPROVED AS TO FORM:
___________________________ /s/ Katherine Mirassou __________ Deborah L. Elam Katherine Mirassou
City Clerk Assistant City Attorney
Exhibit A – Chapter 15.90 Building Appeals Board
Exhibit B – Amendments to LMC Sections 8.15.125, 15.20.100, 15.20.110, and

15.20.120
23 EXHIBIT A
Chapter 15.90
Building Appeals Board
Sections:

15.90.010 – Purpose

15.90.020 - Definitions

15.90.030 - Organization and Membership

15.90.040 - Limitation on Appeals

15.90.050 - Appeal Filing Timeline

15.90.060 - Appeal Procedure

15.90.070 - Powers and Duties

15.90.010 - Purpose
The Building Appeals Board is established to review and adjudicate appeals of orders, decisions, and determinations made by City staff regarding the application and interpretation of the California Building Code and other regulations and uniform codes governing construction, use, maintenance, and change of occupancy, as specified in Section 1.8.8 of the California Building Code and as adopted by the City in LMC Title 15, Buildings and Construction.

15.90.020 - Definitions
As used in this chapter:

A. "Board" means the Building Appeals Board.

B. "Building Official" means the Chief Building Official or their designee.

C. "Member" means a member of the Building Appeals Board.

D. "The Code" means the California Building Code, LMC Title 15, and other applicable construction regulations.

E. "Appeal" means a formal request to review a decision made by the Building Official or City staff.

F. "Appellant" means a person or entity filing an appeal under this chapter. 24 EXHIBIT A
G. "Decision" means any determination, ruling, or interpretation made by City staff subject to appeal under this chapter.

15.90.030 - Organization and Membership
A. Appointment and Removal: The Board shall be appointed by the City Council and serve at its pleasure. Board members shall be appointed from a list of interested and qualified candidates maintained by the City Clerk. Board members may be removed by a vote of the majority of the City Council with or without cause.

B. Composition: The Board shall consist of three members who are not employees of the City.

C. Qualifications: Members shall be knowledgeable about applicable building codes, regulations, and ordinances. They shall have experience and training in building construction, such as licensed contractors, engineers, and architects. A member need not be a resident of the City. A member may not have any interest in property which is the subject of the appeal to the Board.

D. Term: Board members shall serve staggered terms of four years, with vacancies filled by the City Council for the remainder of the unexpired term.

E. Meetings: The Board of Appeals shall have no regular meetings, and all meetings shall be special meetings noticed pursuant to Government Code Section 54956. The board shall be considered a “standing committee” with a continuing subject matter jurisdiction. The board shall meet when an appeal is filed pursuant to this chapter.

15.90.040 - Limitation on Appeals
A. An application for appeal must be based on a claim that:

1. The true intent of the applicable code or related regulations has been incorrectly interpreted.

2. The provisions of the applicable code do not fully apply.

3. An equally good or better form of construction is proposed.

B. Appeals must relate to orders, decisions, or determinations governed by Title 15 of the Livermore Municipal Code.

15.90.050 - Appeal Filing Timeline
A. All appeals shall be submitted in writing to the Building Official within 10 calendar days of the appellant’s receipt of written notice of the decision being appealed.

B. Failure to file a timely and complete request for an appeal shall constitute a waiver of all rights to an appeal.

C. An appeal must contain the information in LMC 8.15.090(B). 25 EXHIBIT A
D. Upon receiving a written appeal, the Building Official shall within 10 days set a hearing date, time, and location for within 60 days from the date of the City’s receipt of the appeal. Written notice of the hearing shall be served to the appellant at least 10 days prior to the hearing via personal service or certified mail.

E. If the filing deadline falls on a weekend or holiday, the deadline shall be extended to the next business day.

F. Except for orders issued by the Building Official because of conditions that represent an imminent threat to life or safety of the public or adjacent properties, enforcement of the notice and order of the Building Official shall be stayed during the pendency of an appeal of that order properly and timely filed.

15.90.060 - Appeal Procedure
A. Hearing Procedures: Hearings shall follow the procedures established in LMC 8.15.

The Board shall comply with 8.15 as if it were the “hearing officer” but only to the extent

8.15 is consistent with the California Building Code or other applicable law governing administrative appeals of violations of the building code.

B. Secretary: The Chief Building Official or their designee shall serve as the ex officio Secretary of the Board but shall not vote.

C. Decision: The Board shall issue a written decision, including findings of fact and reasons for the decision, within fifteen (15) days after the hearing’s conclusion. Copies of the decision shall be provided to the appellant and the Building Official. The Board’s decisions are binding.

15.90.070 - Powers and Duties
A. The Board shall hear and decide appeals of orders, decisions, and determinations made by City staff regarding the application and interpretation of the California Building Code and other regulations under Title 15 of the Livermore Municipal Code.

B. The Board shall have no authority to waive requirements of any code. (California Building Code Section 113.2.)
C. The Board’s written decisions shall include findings of fact and the rationale for the decision. Decisions shall approve, approve with modifications, or deny appeals, specifying any conditions or limitations imposed.

D. Within fifteen (15) days of the decision, the Secretary shall provide copies of the decision to the appellant and maintain a permanent record in the Board’s files.

E. Decisions of the Board are final and conclusive for the City. 26 EXHIBIT B
Amended sections:

8.15.125 Appeal of building code violations

15. 20.100 Administrative hearing

15. 20. 110 Written decision and order

15. 20.120 Appeal to City Council

8.15.125 Appeal of building code violations.

When a notice and order to abate includes a public nuisance as defined in LMC 8.14.040(M) and (N) for a violation of the California Building Code and other uniform codes adopted by the City in LMC Title 15, Buildings and Construction, the written decision of the administrative hearing officer after hearing with respect to those specific code violations may be appealed by a responsible party to the City Council as set forth in LMC 15.20.120. (Ord. 2105 § 5, 2020) an appeal of the notice and order will be heard by the Building Appeals Board pursuant to LMC 15.90. Appeals heard by the Building Appeals Board shall comply with the procedures of Chapter 8.15 as if the Board were the “hearing officer”, but only to the extent Chapter 8.15 is consistent with the California Building Code or other applicable law governing administrative appeals of violations of the California Building Code.

15.20.100 Administrative hearing.

The administrative hearing shall be conducted in the same manner as set forth in LMC 8.15.100 and 8.15.110 with the following modifications:

A. Appointment. The Community Development Director shall appoint a hearing officer direct the Building Appeals Board pursuant to LMC 15.90 to conduct an administrative hearing upon issuance of a notice and order to demolish a dangerous building.

B. Notice of Hearing. The building division will send out the notice of hearing date to all responsible parties of interest, including any tenants, the hearing officer Building Appeals Board, building official, Community Development Director, City Manager and City Attorney.

C. Burden of Proof. The City has the burden of proving by a preponderance of the evidence that the dangerous conditions exist and constitute a violation of the code and that demolition of the building is the only economically feasible alternative. The notice and order to demolish a dangerous building and any reports submitted by the building official or designee shall constitute prima facie evidence of the respective facts contained in those documents. The City shall present evidence of the following:
27 EXHIBIT B

1. The dangerous condition of the building;

2. That it is not economically feasible for the building to be repaired and made safe;

3. The economic cost of repair in comparison to demolition or removal and/or any other evidence to show that demolition is the only reasonable or viable alternative; and

4. The history of attempts to gain the responsible party’s compliance to correct the condition of the building.

A responsible party may contest the building official’s determination by providing evidence or expert testimony about the building’s condition, and by providing evidence of the responsible party’s willingness and economic capability to complete the necessary repairs to make the building safe and bring it into compliance in a timely manner, regardless of cost.

D. Inspection of Building. The hearing officer Building Appeals Board may inspect the building, to the extent it is determined safe by the building official to do so, as part of the hearing process; provided, that the parties mutually agree, and the owner for the subject property consents to the inspection. The hearing officer Building Appeals Board must give written notice to the parties of the date and time of the inspection, and the parties are permitted to be present during the hearing officer’s Building Appeals Board’s inspection. The City may request all parties to sign a waiver of liability to be present during the inspection. When the hearing resumes after the inspection, the hearing officer Building Appeals Board shall state for the record the material facts observed during the inspection. The parties shall be afforded an opportunity to rebut or explain the material facts stated by the hearing officer Building Appeals Board.

E. Failure to Appear. The failure to appear at the hearing by the responsible party shall constitute a failure to exhaust administrative remedies and a waiver of all rights to maintain an action to appeal, modify, or set aside a building official’s notice and order to demolish a dangerous building, and any subsequent City abatement action. Despite the failure to appear, the hearing officer Building Appeals Board is directed to hear the City’s case in the responsible party’s absence and issue a written decision based upon the City’s evidence.

15.20.110 Written decision and order.

After the administrative hearing, the hearing officer Building Appeals Board shall issue a written decision and order as set forth in LMC 8.15.120 with the following modifications:

A. Notice Upheld or Modified.

1. If the hearing officer Building Appeals Board upholds the building official’s determination that the building is dangerous and should be demolished, the decision 28 EXHIBIT B
must include a demolition order that provides a reasonable schedule for the responsible party to obtain a City demolition permit and to take all necessary steps to demolish or remove the building. In no event shall the demolition date be less than 90 days from the date the decision is mailed.

2. If the hearing officer Building Appeals Board determines that the responsible party may repair the dangerous building, rather than demolish it, the decision must include an abatement order that provides a reasonable and feasible schedule for expeditious repair, including obtaining all necessary City permits, providing required architectural and engineering plans or other needed studies, and completing the work. Except under unusual or extenuating circumstances, the date of completion should not exceed 180 days from the date the decision is issued. The building official may extend the date of completion as needed to accommodate reasonable good faith progress by the responsible party to eliminate the dangerous conditions.

3. If the hearing officer Building Appeals Board determines that the nuisance is likely to recur after abatement, the hearing officer’s Building Appeals Board’s written decision may order the person to take adequate precautions for a period of time not to exceed 12 months so that the nuisance will not recur.

4. The written determination shall further state that if the building is not demolished, or if the nuisance is not abated, by the date specified in the order, then the City is ordered and authorized to demolish the building, or abate the nuisance, and to recover the administrative charges, costs and expenses to abate the nuisance from the responsible party as set forth herein and in LMC 8.15.150.

B. Finality of Decision – Judicial Review of Non-Building Code Violations. For any public nuisance violations and associated consolidated hearing issues pursuant to LMC 8.15.100 that are not violations of a building code, the hearing officer’s decision is final and conclusive for the City. The written decision and order shall contain a statement of the right to seek judicial review of that portion of the hearing officer’s decision by filing a petition within 90 days with a court of competent jurisdiction pursuant to California Code of Civil Procedure Sections 1094.5 and 1094.6.

C. Appeal to City Council – Building Code Violations. For any public nuisance violations that are violations of a building code, the written decision and order shall contain a statement that the Building Appeals Board’s decision is final.

The responsible party may appeal to the City Council pursuant to LMC 15.20.120 that portion of the hearing officer’s Building Appeals Board’s decision pertaining only to orders requiring the demolition of dangerous buildings by filing a written request to the City Clerk requesting an appeal of the hearing officer’s Building Appeals Board’s decision and paying an appeal fee set by City Council resolution within 10 calendar days of the date of the decision.
29 EXHIBIT B

15.20.120 Appeal to City Council.

A. A decision by the Building Appeal’s Board may be appealed to the City Council only if the decision by the Building Appeal’s Board would require the demolition of a dangerous buildings. If the responsible person attended the administrative hearing, he or she may appeal the hearing officer’s Building Appeals Board’s decision by filing a written request to the City Clerk requesting an appeal hearing within 10 calendar days of the date of the hearing officer’s Building Appeals Board’s decision. An appeal fee as set by City Council resolution must be paid within the same 10-calendar-day period for the appeal application to be complete.

B. Within 30 calendar days of receipt of a complete and timely appeal, the hearing before the City Council will be scheduled to take place within 60 days of the date the appeal is received, or as soon thereafter as possible. The City Clerk shall inform the appellant of the date and time of the appeal hearing.

C. The appeal hearing shall be de novo and shall observe the following procedures:

1. The City Council shall receive and consider all relevant testimony, evidence, objections, or protests presented.

2. The person requesting the hearing may represent themselves or may be represented by the person of their choice.

3. The formal rules of evidence and discovery will not apply to the appeal hearing, but the person requesting the hearing, and the building official, shall have the following rights:
a. To appear and present testimony and evidence relevant to any activity or condition identified in the hearing officer’s decision or the notice and order to demolish a dangerous building that is being contested. Hearsay evidence may be presented for the purpose of supplementing or explaining any direct evidence, but shall not be sufficient in itself to support a finding unless it would be admissible over objection in civil actions in courts of competent jurisdiction in California. Relevant evidence may be admitted if it is the type of evidence that is competent and may be relied upon by reasonable persons to make a decision, provided the evidence is more than speculation or conjecture.

Irrelevant and unduly repetitious evidence shall be excluded. b. To produce and examine witnesses on any matter relevant to the condition of the premises constituting a nuisance.
c. To introduce documentary and physical evidence.
d. To cross-examine opposing witnesses on any matter relevant to the issues of the hearing.
e. To impeach any witness, regardless of which party first called that witness to testify. f. To rebut the evidence.
30 EXHIBIT B
g. The proceedings at the hearing shall be recorded.

4. The person requesting the hearing, or the building official, may use a certified shorthand or stenographic reporter to maintain a written record of the proceedings at the party’s own expense. When a certified shorthand or stenographic reporter is used, the preparation of a record of the proceeding shall be governed by California Code of Civil Procedure Section 1904.6, as it is amended from time to time.

5. The building official’s enforcement file, including the notice and order to demolish a dangerous building and the written decision of the administrative hearing officer’s Building Appeals Board, shall constitute prima facie evidence that the public nuisance exists, that the building is dangerous, and that the administrative charge assessed is appropriate, and shall be deemed evidence of sufficient substantiality to shift the burden of proof to the person contesting the notice and written decision to show cause why the dangerous condition does not exist or should not be abated, or why the administrative charge should not be assessed. The person requesting the hearing has the burden of proving there is a substantial conflict of evidence, or that different conclusions must be drawn from the building official’s evidence, that warrants modifying or setting aside the contested portion of the notice and order to demolish a dangerous building. The building official has the ultimate burden of proving by a preponderance of the evidence that the activity or condition identified in the notice and order to abate exists, and establishing that the administrative charge should be assessed.

6. The City Council may request additional information from the building official or the person requesting the appeal hearing, or conduct an inspection of the activity or condition that is being contested, at any time before issuing a written decision.

7. The failure of any person requesting the appeal to appear at the appeal hearing shall constitute a waiver of all rights to a hearing and a waiver of all rights to maintain an action to modify or set aside the building official’s notice and order to demolish a dangerous building. The failure to appear shall also constitute a failure to exhaust administrative remedies, and the City Council shall issue a written decision and order upholding the notice and order to demolish a dangerous building as to that party.

D. Upon the completion of such hearing, the City Council shall, by resolution, declare its findings and its decision to uphold, modify, or set aside the building official’s notice of demolition of a dangerous building for the building code violation and shall follow the form set forth in LMC 8.15.120 for a written decision.

E. Judicial Review. The City Council’s decision after appeal is final and conclusive for the City. The resolution shall contain a statement of the right to seek judicial review of the hearing officer’s decision by filing a petition within 90 days with a court of competent jurisdiction pursuant to California Code of Civil Procedure Sections 1094.5 and 1094.6. 31 CITY COUNCIL STAFF REPORT
ITEM NO. 5.4

DATE:

February 10, 2025
TO:

Honorable Mayor and City Council
FROM:

Brent Smith, Community Development Director
SUBJECT:

Resolution authorizing execution of a fourth amendment to the agreement with Ruggeri- Jensen-Azar for on-call engineering design services, increasing the not-to-exceed amount from $1,800,000 to $2,400,000 with a term ending December 31, 2026.

RECOMMENDED ACTION

SUMMARY
This fourth amendment with Ruggeri-Jensen-Azar provides on-call engineering services for civil engineering design, structural analysis, subsurface engineering, surveying, right-of-way and construction staking, and appraisals, as well as preparation of civil engineering maps, legal descriptions, storm water prevention plans, and assorted general drafting services in connection with a variety of City capital improvement projects and miscellaneous development projects. This fourth amendment increases the not-to-exceed contract maximum from $1,800,000 to $2,400,000.

DISCUSSION
On January 14, 2021, the City entered into an engineering services agreement with Ruggeri-Jensen- Azar to provide on-call engineering services for a two-year term. The original agreement was amended three times to provide additional design services. The first amendment increased the amount of the agreement by $600,000 to a total amount of $1,200,000. The second amendment increased the amount of the agreement by $600,000 to a total amount of $1,800,000. The third amendment increased the duration of the contract 2 years, now ending on December 31, 2026.

Ruggeri-Jensen-Azar has been instrumental in providing on-call engineering support in a wide variety of tasks. These tasks include, but are not limited to, potholing and locating subsurface utilities for sewer replacement projects, grading and drainage design and improvement plan preparation, providing 32 Certified Access Specialist (CASp) services, sidewalk and Americans with Disabilities Act (ADA) design, Caltrans permitting for street resurfacing projects, a feasibility study for the proposed South Livermore Valley sewer extension, and preparing various maps for downtown development. Ruggeri-Jensen-Azar continues to provide valuable engineering services to the city on an as-needed basis.

The fourth amendment will increase the not-to-exceed amount of the agreement by $600,000 to a total of $2,400,000. This amendment provides for on-call engineering design services for various projects in the Capital Improvement Plan. Potential projects include, but are not limited to, the following:

Decorative Wall Replacement Project 2006-54, surveys, property corners.

Annual Sewer Replacement Project 2020-03, surveys.

Stanley Blvd. Median Improvements Project 2020-14.

Annual Sewer Replacement Phase 2 Project 2022-03.

Slurry Seal Project 2022-04 design and surveys.

South Livermore Sewer Extension 2023-13 preliminary design and surveys.

Springtown Water service Replacements 2023-14 construction support.

Elaine Ave Median Landscaping 2023-24 design.

In general, anticipated tasks include design, surveying, potholing, right-of-way, and accessibility assessment support on these tasks.

FISCAL AND ADMINISTRATIVE IMPACTS

Funding for services rendered under this agreement will be derived from the various capital improvement projects in the approved Capital Improvement Program, developer fees for various development projects for which consultant services are required, and the engineering operating budget for miscellaneous consultant services. Therefore, no additional appropriation is necessary.

COMMUNITY PILLAR

5: A City That Works

GOAL

14: Develop, operate, and maintain City's infrastructure

ATTACHMENTS

1. Resolution

2. Exhibit A - Fourth Amendment

Prepared by: Christopher Ferrel
Associate Civil Engineer

33 Approved by:
____________________________________
Marianna Marysheva
City Manager
Fiscal Review by:
____________________________________
Tina Olson
Administrative Services Director
34 RESOLUTION NO. ________

IN THE CITY COUNCIL OF THE CITY OF LIVERMORE, CALIFORNIA

A RESOLUTION AUTHORIZING EXECUTION OF A FOURTH AMENDMENT

TO THE ENGINEERING SERVICES AGREEMENT WITH

RUGGERI-JENSEN-AZAR FOR ON-CALL ENGINEERING DESIGN SERVICES INCREASING THE NOT-TO-EXCEED CONTRACT AMOUNT FROM $1,800,000 TO $2,400,000 WITH A TERM ENDING DECEMBER 31, 2026
On January 14, 2021, the City of Livermore (“City”) entered into an engineering services agreement with Ruggeri-Jensen-Azar for on-call civil engineering design services. The original agreement was amended three times to provide additional design services. The first amendment increased the amount of the agreement by $600,000 to a total amount of $1,200,000 and extended the term of the agreement to December 31, 2023. The second amendment increased the amount of the agreement by $600,000 to a total amount of $1,800,000 and extended the term of the agreement to December 31, 2024. The third amendment extended the term of the agreement to December 31, 2026. Staff recommends the agreement be further amended to increase the amount of the agreement by $600,000, increasing the total contract amount from $1,800,000 to $2,400,000 to continue to provide on-call engineering design services for various projects in the Capital Improvement Plan.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Livermore, that it hereby:

1. Authorizes the City Manager to execute a fourth amendment to the engineering services agreement with Ruggeri-Jensen-Azar, attached hereto as Exhibit A, for additional on-call engineering design services, increasing the not-to-exceed contract amount from $1,800,000 to $2,400,000.

2. Authorizes the City Manager to take whatever actions are necessary and appropriate to carry out the purpose and intent of this resolution, including approving minor changes to the proposed agreements.

On motion of Council Member ______________________, seconded by Council Member ______________________, the foregoing resolution was passed and adopted on February 10, 2025, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
35 RESOLUTION NO. ________
ATTEST: APPROVED AS TO FORM:
_____________________________ /s/ Tara Mazzanti __________ Deborah L Elam Tara Mazzanti
City Clerk Senior Assistant City Attorney
Exhibit A – Fourth Amendment Ruggeri-Jensen-Azar
36 Amendment – Engineering Services Page 1
Rev. 01/05/2024

FOURTH AMENDMENT TO

ENGINEERING SERVICES AGREEMENT

THIS FOURTH AMENDMENT, is made and entered into this ____ day of ________, 20 __, by and between the City of Livermore, a municipal corporation (“City”), and Ruggeri-Jensen-Azar, a California Corporation (“Consultant”).

RECITALS

On January 14, 2021, City and Consultant entered into an agreement for Consultant to provide engineering design services to provide on- call plan and specification preparation, engineering analysis, stormwater plan preparation, surveying, mapping, structural evaluation, utility location, and right -of-way assi stance for City (“Original Agreement”). Section 21 of the Original Agreement requires that any modifications to it must be in writing and signed by the parties.

On May 26, 2022, City and Consultant entered into a first amendment to provide additional on-call engineering services as specified in the Original Agreement, increase the Consultant’s compensation by $600,000, and extend the term of the agreement by one year to December 31, 2023 (“First Amendment”).

On October 24, 2023, City and Consultant entered into a second amendment to provide additional on- call engineering services as specified in the Original Agreement, increase the Consultant’s compensation by $600,000, and extend the term of the agreement by one year to December 31, 2024 (“Second Amendment”).

On December 12, 2024, City and Consultant entered into a third amendment to provide additional on-call engineering services as specified in the Original Agreement and extend the term of the agreement by two years to December 31, 2026 (“Third Amendment”).

City and Consultant desire to amend the Original Agreement and the First, Second, and Third Amendments to provide additional on-call engineering services as specified in the Original Agreement by increasing the Consultant's compensation by $600,000. This is the fourth amendment to the Original Agreement.

AGREEMENT

NOW, THEREFORE, City and Consultant hereby agree that the aforementioned recitals are true and correct and further agree as follows:

1. The Original Agreement is amended as follows:

A. Section 3 of the Original Agreement is amended to read as follows:

Description of Services. Consultant shall provide professional services to Docusign Envelope ID: 79C58471-F180-4FF7-915C-BB82D4CE3B46 37 Amendment – Engineering Services Page 2
Rev. 01/05/2024
provide additional on- call plan and specification preparation, engineering analysis, stormwater plan preparation, surveying, mapping, structural evaluation, utility location, and right of way assistance as more particularly set forth in Exhibit “A” to the Original Agreement and Exhibits “A-1” and “A- 2” and “A-3” to the First, Second and Third Amendment.

B. Section 6(a) of the Original Agreement is amended to read as follows:

Compensation and Payment.

a. The total compensation payable by the City to Consultant for the Services SHALL NOT EXCEED the sum of $2,400,000.

1. The compensation payable by the City to
Consultant for the Services required by Exhibit A to
the Original Agreement SHALL NOT EXCEED
$600,000.

2. The compensation payable by the City to
Consultant for the Services required by Exhibit A-1
to the First Amendment SHALL NOT EXCEED
$1,200,000.

3. The compensation payable by the City to
Consultant for the Services required by Exhibit A-2
to the Second Amendment SHALL NOT EXCEED
$1,800,000.

4. The compensation payable by the City to
Consultant for the Services required by Exhibit A-3
for the Third Amendment SHALL NOT EXCEED
$2,400,000.

City shall compensate Consultant for the Services rendered at the hourly rates or task amounts set forth in Exhibit “A” to the Original Agreement, Exhibit “A-1” to the First Amendment, Exhibit “A-2” to the Second Amendment, and Exhibit “A-3” to the Third through Fourth Amendment up to the not -to-exceed amount. Except as provided in the body of the Agreement, the hourly rates or task amounts and travel expenses are intended to be Consultant’s only compensation for the Services and is inclusive of all costs of labor, licensing, permitting, overhead and administrative costs, and any-and-all other costs, expenses, and charges incurred by Consultant, its agents, and employees to provide the Services.

2. These amendments are prospective and only apply to the S ervices rendered by Consultant after the execution of this Amendment. Unless otherwise stated herein, this Amendment does not relieve the parties of the terms and conditions of the Original Agreement as written and in effect at the time the Services were rendered.

3. Except as amended above, the Original Agreement remains in full force and effect.

[SIGNATURES ON FOLLOWING PAGE]
Docusign Envelope ID: 79C58471-F180-4FF7-915C-BB82D4CE3B46 38 Amendment – Engineering Services Page 3
Rev. 01/05/2024
In concurrence and witness whereof, and in recognition of the mutual consideration provided therefore, the parties have executed this Agreement effective on the date first written above.

CONSULTANT: Dated:

____________________________ ___________________________ By: David Terhune
Title: Principal in Charge

CITY OF LIVERMORE: Dated:

____________________________ ____________________________ Marianna Marysheva
City Manager

APPROVED AS TO FORM:

___________________________
Deputy/Assistant/City Attorney

APPROVED AS TO INSURANCE:

Risk Manager/Analyst

Attachments:

Exhibit A-3

Docusign Envelope ID: 79C58471-F180-4FF7-915C-BB82D4CE3B46 1/15/2025 | 9:43 AM PST
39 g:\admin\forms\rate schedules\on-call agencies\2026 rate schedule for livermore oncall.docx EXHIBITA-3

FEESCHEDULE
for

RUGGERI-JENSEN-AZAR

HOURLY RATE SCHEDULE FOR PROFESSIONAL SERVICES
(Effective Jan.1, 2025 through Dec. 31, 2026)
Classification
Rates
Rates2025 2026
Senior Project Manager $295.00 $309.00
Project Manager $276.00 $289.00
Senior Engineer $264.00 $276.00
Associate Engineer $245.00 $257.00
Engineer $228.00 $239.00
Assistant Engineer $197.00 $206.00
Senior Technician $194.00 $203.00
Administrative Assistant $110.00 $114.00
Field Survey Manager $243.00 $255.00
2-Person Survey Crew $345.00 $360.00
Principal $298.00 $310.00

EXPENSESCHEDULE

1. All outside expenses will be billed at actual Cost plus 15%, including:
Delivery Service
Reproduction
Mileage- Auto
Travel & Expenses

2. All Subconsultant fees will be billed at actual cost plus 10% up to $2,500 per Task Order .

3. All outside Agency fees will be billed at actual cost plus 10%.

Docusign Envelope ID: 79C58471-F180-4FF7-915C-BB82D4CE3B46 40 CITY COUNCIL STAFF REPORT
ITEM NO. 5.5

DATE:

February 10, 2025
TO:

Honorable Mayor and City Council
FROM:

Brent Smith, Community Development Director
SUBJECT:

Resolution authorizing execution of a fourth amendment to the agreement with JR Structural Engineering, Inc. for project management services for various capital improvement projects, increasing the not-to-exceed contract amount from $910,000 to $1,510,000 with a term ending December 31, 2026.

RECOMMENDED ACTION

SUMMARY
This fourth amendment with JR Structural Engineering, Inc. authorizes continued project management services for various capital improvement projects including Flagpole Plaza Project 2022-25, L Street Garage Project 586003, Police Building Renovations Project 2023-16 and Downtown Sidewalk and ADA Improvements project 2019-59. The fourth amendment increases funding by $600,000 to a total not-to- exceed amount of $1,510,000.

DISCUSSION
On July 16, 2018, the City of Livermore entered into a professional services agreement in the amount of $600,000 with JR Structural Engineering, Inc. to provide project management services for various capital improvement projects. As part of this agreement JR Structural was the primary project manager for Livermorium Park Project 2014-36. JR Structural also provided project management support for other downtown core projects including Stockmen's Park, the Cultural Facilities, and the Hotel. Project management services for Veterans Park Project 2021-21 were added to the agreement as part of an $85,000 first amendment that was authorized on July 26, 2021. On September 20, 2022, City and Consultant amended the agreement to provide project management services for additional projects such as Flagpole Plaza and the L Street Garage, increase the total contract amount to $910,000, and extend the term of the agreement to December 31, 2024. On January 6, 2024, City and Consultant amended 41 the agreement to extend the term of the agreement to December 31, 2026.

This fourth amendment covers project management services for Flagpole Plaza through construction.

The Flagpole Plaza Project involves streetscape improvements to the Flagpole Plaza at the southwest corner of First Street and Livermore Avenue. These improvements will accommodate expanded outdoor dining, upgraded accessibility, and provide design consistency in the downtown core.

The fourth amendment also covers design and construction project management services for the Downtown Sidewalk and ADA Improvements Project and Police Building Renovations Project.

Sidewalks and ADA ramps will be modified to meet ADA requirements on First Street between Maple Street through O Street as part of Downtown Sidewalk and ADA Improvements Project. This project will also include First Street rehabilitation between M Street and O Street. Major renovations are planned for the Police Building as part of Police Building Renovations Project. Renovations include upgrades to the kitchen, men's and women's locker rooms, and various offices and new furniture. These improvements will increase the efficiency of current operations and provide workspaces for an expanded workforce.

Additionally, the fourth amendment covers continued assistance in working with downtown businesses in connection with the L Street Garage Project.

Project management activities for all projects include attending design meetings, overseeing the preparation of plans and specifications, coordination with Planning, obtaining permits, bidding and awarding the project, and providing construction administration support. Services will be provided on a time and materials basis.

FISCAL AND ADMINISTRATIVE IMPACTS

The fourth amendment increases compensation by $600,000 to a total not-to-exceed amount of $1,510,000. Funding for this amendment is covered in the approved budgets for the following projects in the FY 2023-28 Capital Improvement Program: Flagpole Plaza Project 2022-25, Police Building Renovations Project 2023-16, L Street Garage Project 586003, and Downtown Sidewalk and ADA Improvements Project 2019-59.

COMMUNITY PILLAR

4: Inclusive & Inviting Spaces & Places

GOAL

3: Continue to implement the Downtown Specific Plan

ATTACHMENTS

1. Resolution

2. Exhibit A - Fourth Amendment

Prepared by: Farnoush Levers
Assistant City Engineer

42 Approved by:
____________________________________
Marianna Marysheva
City Manager
Fiscal Review by:
____________________________________
Tina Olson
Administrative Services Director
43 RESOLUTION NO.

IN THE CITY COUNCIL OF THE CITY OF LIVERMORE, CALIFORNIA

A RESOLUTION AUTHORIZING EXECUTION OF A FOURTH AMENDMENT TO

THE PROFESSIONAL SERVICES AGREEMENT WITH JR STRUCTURAL
ENGINEERING, INC. FOR PROJECT MANAGEMENT SERVICES FOR

VARIOUS CAPITAL IMPROVEMENT PROJECTS, INCREASING THE NOT-TO- EXCEED CONTRACT AMOUNT FROM $910,000 TO $1,510,000 WITH A TERM ENDING DECEMBER 31, 2026
On July 16, 2018, the City of Livermore entered into a Professional Services Agreement in the amount of $600,000 with JR Structural Engineering, Inc. (JR Structural) to provide project management services for various capital improvement projects. As part of this agreement, JR Structural was the primary project manager for Livermorium Park Project 2014-36. JR Structural has also provided project management support for other downtown core projects, including Stockmen's Park, the Cultural Facilities, and the Hotel.

On July 26, 2021, City and Consultant amended the agreement to provide additional Project Management services for Veterans Park Project 2021-21, increasing the total contract amount to $685,000.

On September 20, 2022, City and Consultant amended the agreement to provide additional project management services for downtown core capital improvement projects including Flagpole Plaza Project 2022-25 and L Street Garage Project 586003, increase the total contract amount to $910,000, and extend the term of the agreement to December 31, 2024.

On January 6, 2024, City and Consultant amended the agreement to extend the term of the agreement to December 31, 2026.

City and Consultant now desire to amend the agreement to provide additional project management services for Flagpole Plaza, the L Street Garage, Police Building Renovations Project 2023-16, and Downtown Sidewalk and ADA Improvements Project 2019-59 and increase the total contract amount to $1,510,000. This is the fourth amendment to the agreement.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Livermore that it hereby:

1. Authorizes the City Manager to execute a fourth amendment to the professional services agreement with JR Structural Engineering, Inc., attached hereto as Exhibit A, for project management services for various capital improvement projects, increasing the not-to-exceed contract amount from $910,000 to $1,510,000.

On motion of Council Member , seconded by
Council Member , the foregoing resolution was passed and adopted on February 10, 2025 by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

ATTEST: APPROVED AS TO FORM:
____________________________ /s/ Tara Mazzanti
Deborah L. Elam Tara Mazzanti
City Clerk Senior Assistant City Attorney
Exhibit A – Fourth Amendment to Professional Services Agreement with JR Structural, Inc. 45 Amendment - Professional Services Agreement Page 1 Rev. 09/19/23

FOURTH AMENDMENT TO PROFESSIONAL SERVICES AGREEMENT

THIS FOURTH AMENDMENT is made and entered into this ___ day of __ _____, 20____, by and between the City of Livermore (“City”), a municipal corporation, and JR Structural Engineering, Inc. (“Consultant”), a California Corporation.

RECITALS

On July 16, 2018, City and Consultant entered into an agreement for Consultant to provide Project Management Services for various Capital Improvement Projects primarily associated with the Downtown Core Development projects . Section 21 of the Original Agreement requires that any modifications to it must be in writing and signed by the parties.

On July 26, 2021, City and Consultant amended the Original Agreement to add additional services for additional Capital Improvement Projects in the Downtown Core, increase the total contract amount to $685,000 and extend the term of the agreement to July 31, 2023 (“First Amendment”).

On September 20, 2022, City and Consultant amended the Original Agreement to provide additional Project Management services for downtown core Capital Improvement Projects including Flagpole Plaza, Livermorium Park -Plaza, and the L Street Garage, increase the total contract amount to $910,000 and extend the term of the agreement to December 31, 2024 (“Second Amendment”).

On January 6, 2024, City and Consultant amended the Original Agreement to provide additional Project Management services for downtown core Capital Improvement Projects including Flagpole Plaza, Livermorium Park-Plaza, and the L Street Garage, and extend the term of the agreement to December 31, 2026 (“Third Amendment”).

City and Consultant desire to amend the Original Agreement and First , Second and Third Amendment to provide additional on- call engineering services as specified in the Original Agreement by increasing the Consultant’s compensation by $600,000. This is the Fourth amendment to the Original Agreement.

AGREEMENT

NOW, THEREFORE, City and Consultant hereby agree tha t the aforementioned recitals are true and correct and further agree as follows:

Docusign Envelope ID: 3ABE6EAD-2581-4ABF-966F-F74EEC8B4878

EXHIBIT A

Page 1 of 3 ends

46 Amendment - Professional Services Agreement Page 2 Rev. 09/19/23

1. The Original Agreement is amended as follows:

A. Section 5 of the Original Agreement is amended to read as follows:

Compensation and Payment.
a. The total compensation payable by the City to Consultant for the Services SHALL NOT EXCEED the sum of $ 1,510,000 (“not-to- exceed amount”).

1. The compensation payable by the City to
Consultant for the Services required by Exhibit A to
the Original Agreement SHALL NOT EXCEED
$600,000.

2. The compensation payable by the City to
Consultant for the Services required by Exhibit A-1
to the First Amendment SHALL NOT EXCEED
$85,000.

3. The compensation payable by the City to
Consultant for the Services required by Exhibit A-2
to the Second Amendment SHALL NOT EXCEED
$225,000.

4. The compensation payable by the City to
Consultant for the Services required by Exhibit A-2
for the fourth Amendment SHALL NOT EXCEED
$600,000.

City shall compensate Consultant for the Services rendered at the hourly rates or task amounts set forth in Exhibit “A” to the Original Agreement, Exhibit “A -1” to the First Amendment and Exhibit “A -2” to the Second through Fourth Amendment up to the not -to-exceed amount. Except as provided in the body of the Agreement, the hourly rates or task amounts are intended to be Consultant’s only compensation for the Services and is inclusive of all costs of labor, licensing, permitting, overhead and administrative costs, and any -and-all other costs, expenses, and charges incurred by Consultant, its agents, and employees to provide the Services.

3. Except as amended above, the Original Agreement remains in full force and effect.

Docusign Envelope ID: 3ABE6EAD-2581-4ABF-966F-F74EEC8B4878

EXHIBIT A

Page 2 of 3 ends

47 Amendment - Professional Services Agreement Page 3 Rev. 09/19/23
In concurrence and witness whereof, and in recognition of the mutual consideration provided therefore, the parties have executed this Agreement effective on the date first written above.

CONSULTANT: Dated:

____________________________ ___________________________ Rosy Ehlert, Principal
JR Structural

CITY OF LIVERMORE: Dated:

____________________________ ____________________________ Marianna Marysheva
City Manager

APPROVED AS TO FORM:

___________________________
Deputy/Assistant/City Attorney

APPROVED AS TO INSURANCE:

Risk Manager/Analyst

Docusign Envelope ID: 3ABE6EAD-2581-4ABF-966F-F74EEC8B4878 1/13/2025 | 3:40 PM PST

EXHIBIT A

Page 3 of 3 ends

48 CITY COUNCIL STAFF REPORT
ITEM NO. 5.6

DATE:

February 10, 2025
TO:

Honorable Mayor and City Council
FROM:

Brent Smith, Community Development Director
SUBJECT:

Resolution authorizing a supplemental appropriation of Traffic Impact Fee Fund 510 in the amount of $200,000 to complete the analysis for the Traffic Impact Fee Nexus Study.

RECOMMENDED ACTION

SUMMARY
The Traffic Impact Fee (TIF) Nexus Study is currently being updated. Additional analysis is required to study projects identified when the TIF Impact Fee Nexus Study was last updated. These projects include internal roadway improvements within the City and proposed overpass improvements. The additional analysis will determine if these projects are still necessary and update the TIF cost estimates. An additional $200,000 is required from Traffic Impact Fee Fund 510 to cover this analysis.

DISCUSSION
City staff is conducting updates to the Traffic Impact Fee (TIF) Nexus Study. The study will identify street improvements required for General Plan build-out and update the required Traffic Impact Fee to construct these improvements. The original plan for the TIF study updates was to screen through the project list included in the old TIF nexus study (2004) and remove projects that have been completed.

However, due to changes in traffic conditions over the past 20 years and other changes to the regional network, staff recommends that updated analysis be provided for all projects so that the updated Traffic Impact Fee is based on current information. This updated analysis will also help compare potential traffic impacts associated with land use changes being evaluated as part of the General Plan Update.

The proposed scope of work involves evaluating each project included in the old TIF nexus study using the most recent City of Livermore Travel Demand Model. New projects may also be recommended as part of the analysis. In addition, updated analysis will be provided for the ultimate configuration of overpasses such as First Street, Las Colinas Road and Vasco Road. Alignments for Southfront Road 49 and Preston Avenue at the proposed Valley Link – Southfront Road station will also be evaluated. The additional estimated consultant cost in FY 2024-25 is approximately $200,000, including $150,000 for BKF Engineering to provide ultimate configurations of overpasses and $50,000 for Kittelson & Associates to provide updated analysis for other listed projects. The existing contract amount for Kittelson & Associates will be increased and a new contract will be started with BKF Engineering.

All of this information will be needed to finalize the Traffic Impact Fee Nexus Study. The current schedule is to finalize the analysis by the middle of 2025 and bring the updated study and Traffic Impact Fee adjustment to City Council in fall 2025.

FISCAL AND ADMINISTRATIVE IMPACTS

Currently, Traffic Impact Fee Fund 510 is budgeted in the FY 2024-25 engineering operating budget in the amount of $41,332 for the TIF updates. An additional supplemental appropriation in FY 2024-25 of Traffic Impact Fee Fund 510 in the amount of $200,000 is required to complete the Traffic Impact Fee Nexus Study.

PILLAR

5: A City That Works

GOAL

14: Develop, operate, and maintain the City's infrastructure

ATTACHMENTS

1. Resolution

Prepared by: Joanna Liu
Senior Transportation Engineer

Approved by:
____________________________________
Marianna Marysheva
City Manager
Fiscal Review by:
____________________________________
Tina Olson
Administrative Services Director
50 RESOLUTION NO.

IN THE CITY COUNCIL OF THE CITY OF LIVERMORE, CALIFORNIA

A RESOLUTION AUTHORIZING A SUPPLEMENTAL APPROPRIATION OF TRAFFIC IMPACT FEE FUND 510 IN THE AMOUNT OF $200,000 TO COMPLETE THE

ANALYSIS FOR THE TRAFFIC IMPACT FEE NEXUS STUDY
The City of Livermore is currently updating its Traffic Impact Fee Nexus Study. The study will identify required street improvements for the General Plan build-out and update the Traffic Impact Fee, which will be utilized to construct these improvements. The last Traffic Impact Fee Study was prepared in 2004.

Due to changes in traffic conditions and other changes to the regional network over the last twenty years, additional analysis is required to study projects identified in the 2004 Traffic Impact Fee Nexus Study, including certain internal roadway improvements and proposed overpass improvements, to determine if the projects are still necessary and, if so, to update cost estimates for those projects. New projects may also be recommended. This additional analysis will also help identify potential traffic impacts associated with land use changes being evaluated as part of the General Plan update. For these reasons, an additional $200,000 is required from Traffic Impact Fee Fund 510 to complete the analysis for the new Traffic Impact Fee Nexus Study.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Livermore that it authorizes a supplemental appropriation of Traffic Impact Fee Fund 510 in the amount of $200,000 to the FY 2024-25 engineering operating budget to complete the analysis for the Traffic Impact Fee Nexus Study.

On motion of Council Member , seconded by Council
Member , the foregoing resolution was passed and adopted on February 10, 2025, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

ATTEST: APPROVED AS TO FORM:
/s/ Molly A. O’Toole
Deborah L. Elam Molly A. O’Toole
City Clerk Assistant City Attorney
51 CITY COUNCIL STAFF REPORT
ITEM NO. 5.7

DATE:

February 10, 2025
TO:

Honorable Mayor and City Council
FROM:

Tina Olson, Administrative Services Director
SUBJECT:

Resolution accepting the Annual Comprehensive Financial Report (ACFR) and Other Audit Reports for the Fiscal Year ended June 30, 2024.

RECOMMENDED ACTION

Staff recommends the City Council adopt a resolution accepting the following reports for Fiscal Year 2023-24 as completed:

Annual Comprehensive Financial Report, and ratify and approve the audited financial statements presented therein in accordance with Government Code §37208; Alameda County Transportation Commission Measure B Program Financial Statements; Alameda County Transportation Commission Measure BB Program Financial Statements; Alameda County Transportation Commission Vehicle Registration Fee (VRF) Measure F Program Financial Statements;
Agreed Upon Procedures for Compliance with the Proposition 111 2023-24 Appropriations Limit Increment;
Memorandum of Internal Control; and
Required Communications.

SUMMARY
The Annual Comprehensive Financial Report (ACFR), which contains the Auditor’s Opinion, for the fiscal year ending June 30, 2024, is complete and ready for City Council acceptance. The auditors have given the City an unmodified or “clean” opinion on the ACFR. This is shown as the Independent Auditors’ Opinion letter in the audit report (page 1). This is the 43rd consecutive year the City has received an unmodified opinion. In addition to the ACFR, there are six other audit compliance reports being presented for acceptance.

DISCUSSION
The audited ACFR and other required audit compliance reports are being presented to the City Council in accordance with the Livermore Municipal Code §2.28.020 and Government Code §37208. This year’s 52 audits were performed by the City’s independent auditors, Eide Bailly LLP.

Over the last two years the Finance and the Housing and Human Services divisions completed an inventory of housing loans outstanding and believe all loans are now accounted for and recorded correctly. These corrections resulted in a restatement of the beginning net position and fund balance.

The corrections relate to understated and in some instances overstated loans receivables. The effect of this correction is shown under the line captioned as Loans Receivables. The loans receivable restatement had no impact on the change in net position or the change in fund balance of the prior year.

The correction also did not result in additional affordable housing funds that could be used for affordable housing projects. Finance and Housing and Human Services are developing a Housing Loans Issuance Policy to ensure that all future loans are recorded and reported correctly on the financial statements.

The City changed its beginning and ending measurement dates of its net Other Post-Employment Benefits (OPEB) liability from June 30, 2023 and June 30, 2024, respectively, to June 30, 2022 and June 30, 2023, because the City's third-party OPEB trust fund administrator did not submit their audit to the City's auditors in time for the City’s auditors to opine on the OPEB trust fund balances. The measurement date change will eliminate the possibility of this happening in future audits of the City’s financial statements. The beginning net position of the Governmental Activities, Business Type Activities, the Airport, the Water, the Sewer, the Stormwater and the Internal Service funds have been restated to reflect that change.

These restatements did not alter the auditor’s opinion on the City’s ACFR. The auditors have given the City an unmodified or “clean” opinion on the ACFR. This is shown as the Independent Auditors’ Opinion letter in the audit report (page 1). This is the 43rd consecutive year the City has received an unmodified opinion.

Government Code §37208 provides that a City Council is not required to approve payroll and other budgeted demands prior to issuing payment, they may be presented to the City Council for ratification and approval, in the form of an ACFR.

The City has submitted the FY 2023-24 ACFR for the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting award program. In the past, the City has received the GFOA award and believes that the recent ACFR meets the stringent requirements to again merit GFOA recognition.

In addition to the ACFR, there are six other reports for review:

Alameda County Transportation Commission Measure B Program Financial Statements is
required by the Master Program Funding Agreement with the Alameda County Transportation Commission (ACTC) and confirms that the City has complied with the provisions of Measure B.

Alameda County voters approved the half-cent transportation sales tax in November 2000. The sales tax collection began on April 1, 2002, and extended through March 31, 2022. ACTC administers Measure B funds to deliver essential transportation improvements and services.

Alameda County Transportation Commission Measure BB Program Financial Statements is
required by the Master Program Funding Agreement with the Alameda County Transportation Commission (ACTC) and confirms that the City has complied with the provisions of Measure BB.

Alameda County voters approved Measure BB in November 2014 and collection of the half-cent 53 transportation sales tax by the Board of Equalization began on April 1, 2015, and extended through March 31, 2022. The full one-cent sales tax authorized by Measure BB began April 1, 2022, and will extend through March 31, 2045. Local jurisdictions began to receive the flow of funds in July 2015. ACTC administers Measure BB funds for essential transportation improvements in every city throughout Alameda County.

Alameda County Transportation Commission Vehicle Registration Fee Measure F Program Financial Statements
is required by the Master Programs Funding Agreement between the City and Alameda County Transportation Commission and confirms that the City has complied with the laws, regulations, contracts, and grant agreements as specified and applicable to Measure F.

Measure F is the Alameda County Vehicle Registration Fee Program which was approved by voters in November 2010 and generates $10 per vehicle each year. The collection of these funds began in May 2011 will continue to be imposed annually unless repealed. The revenue generated is used for local road improvement and repair, transit congestion relief, local transportation technology, and pedestrian, bicyclist access, and safety programs.

Agreed Upon Procedures for Compliance with the Proposition 111 2020-21 Appropriation Limit Increment
is required by Section 1.5 of Article XIIIB of the California Constitution. This report shows the auditors applied specific procedures, which were suggested by the League of California Cities and presented in their Article XIIIB Appropriation Limitation Uniform Guidelines, to validate the City’s calculation of the Appropriations Limit. No exceptions were noted.

Memorandum on Internal Control:

In planning and performing the audit of the financial statements, the City's auditors, Eide Bailly LLP, considered the City’s internal control over financial reporting as a basis for designing the auditing procedures for the purpose of expressing opinions on the financial statements. The auditors are required to communicate to the City Council any internal control matters that come to their attention during the audit. Eide Bailly LLP have provided such a report in their Memorandum on Internal Control (MOIC) for the fiscal year ended June 30, 2024.

The report states that the audit did not identify any deficiencies in the City's internal control.

Required Communications:

Under generally accepted auditing standards, the City’s external auditors are required to formally communicate with the governing body to convey audit matters, the scope of work, difficulties, adjustments to financial statements, or any possible disagreements with management. Professional standards require the auditor to evaluate the financial statements and assess the risk that a material misstatement could occur. Areas that are potentially more susceptible to misstatements, and thereby require special audit considerations, are designated as “significant risks”. The auditors identified no areas of significant risks.

FISCAL AND ADMINISTRATIVE IMPACTS

There is no direct fiscal impact in accepting the FY 2023-24 audit reports. Total audit and report preparation costs of
$155,341

are within budget and are allocated to the General Fund, Enterprise funds, Measure B funds, Measure BB funds and transportation funds as the audits and reports are completed.

The total fee also includes preparation costs of certain reports not requiring City Council acceptance that are transmitted directly to the California State Controller, including the Special Districts Financial Transactions Report for the Livermore Capital Projects Financing Authority (LCPFA) and the Cities Financial Transactions Report for the City of Livermore.

54 COMMUNITY PILLAR
5: A City That Works

GOAL
17: Ensure effective use of public resources

ATTACHMENTS

1. Resolution

2. Exhibit A - Annual Comprehensive Financial Report

3. Exhibit B - ACTC Measure B Funds Financial Statements

4. Exhibit C - ACTC Measure BB Funds Financial Statements

5. Exhibit D - ACTC Vehicle Registration Fee Program (VRF) Financial Statements

6. Exhibit E - Independent Accountant's Report on Applying Agreed Upon Procedures Related to the Article XIII-B Appropriations Limit Calculation

7. Exhibit F - Independent Auditor's Report on Internal Control Over Financial Reporting on Compliance and Other Matters

8. Exhibit G - Required Communications

Prepared by: Erik Peterson
Finance Manager

IN THE CITY COUNCIL OF THE CITY OF LIVERMORE, CALIFORNIA

A RESOLUTION ACCEPTING THE ANNUAL COMPREHENSIVE FINANCIAL

REPORT (ACFR) AND OTHER ANNUAL REPORTS FOR THE FISCAL YEAR ENDED JUNE 30, 2024
At its meeting on February 10, 2025, the audited Annual Comprehensive Financial Report and other required audit compliance reports for the fiscal year ended June 30, 2024, were presented to the City Council in accordance with Livermore Municipal Code section § 2.28.020.

California Government Code § 37208(c) provides that budgeted payrolls and demands paid by warrants or checks may be presented to the legislative body for ratification and approval in the form of an audited annual comprehensive financial report.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Livermore that it has received and hereby accepts as completed the following financial statements and annual reports for the fiscal year ended June 30, 2024, attached hereto:

1. Annual Comprehensive Financial Report, attached hereto as Exhibit A;

2. Alameda County Transportation Commission Measure B Funds Financial Statements, attached hereto as Exhibit B;

3. Alameda County Transportation Commission Measure BB Funds Financial Statements, attached hereto as Exhibit C;

4. Alameda County Transportation Commission Vehicle Registration Fee Program (VRF) Financial Statements, attached hereto as Exhibit D;

5. Independent Accountant’s Report on Applying Agreed-Upon Procedures Related to the Article XIII-B Appropriations Limit Calculation, attached hereto as Exhibit E;

6. Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters, attached hereto as Exhibit F; and,

7. Required Communications, attached hereto as Exhibit G.

On motion of Council Member _________________________, seconded by Council Member ________________________, the foregoing resolution was passed and adopted on February 10, 2025, by the following vote:
56 2 RESOLUTION NO. ________
AYES:

NOES:

ABSENT:

ABSTAIN:

ATTEST: APPROVED AS TO FORM:
____________________________ /s/ Jason R. Alcala_________________ Deborah L. Elam Jason R. Alcala
City Clerk City Attorney
Exhibit A - Annual Comprehensive Financial Report
Exhibit B - Alameda County Transportation Commission Measure B Funds Financial Statements
Exhibit C - Alameda County Transportation Commission Measure BB Funds Financial Statements
Exhibit D - Alameda County Transportation Commission Vehicle Registration Fee Program (VRF) Financial Statements
Exhibit E - Independent Accountant’s Report on Applying Agreed-Upon Procedures Related to the Article XIII-B Appropriations Limit Calculation Exhibit F - Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters
Exhibit G - Required Communications
57 CITY OF LIVERMORE CALIFORNIA

ANNUAL COMPREHENSIVE

FINANCIAL REPORT
FISCAL YEAR ENDED JUNE 30, 2024

EXHIBIT A
58 This Page Intentionally Left Blank

EXHIBIT A
59 Annual Comprehensive Financial Report
For the Year Ended June 30, 2024
Prepared By
Finance Division
Tina Olson
Administrative Service Director
Erik Peterson Benjie Lin
Finance Manager Accounting Supervisor
David Doyle Ki Lam
Accounting Supervisor Management Analyst
Ann Furtado Laurie Ong
Accounting Supervisor Administrative Specialist

EXHIBIT A
60 This Page Intentionally Left Blank

EXHIBIT A
61 City of Livermore
Table of Contents
June 30, 2024
Introductory Section
Letter of Transmittal .......................................................................................................................................................... i Directory of City Officials ................................................................................................................................................ xii City of Livermore Organization Chart ............................................................................................................................. xiii Financial Section
Independent Auditor’s Report ......................................................................................................................................... 1 Management’s Discussion and Analysis ........................................................................................................................... 5 Basic Financial Statements
Government-Wide Financial Statements
Statement of Net Position .......................................................................................................................................... 23 Statement of Activities ............................................................................................................................................... 24 Fund Financial Statements
Balance Sheet – Governmental Funds........................................................................................................................ 26 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position ................................... 27 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds ............................... 28 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities .................................................................................................................................... 29 Proprietary Fund Financial Statements
Statement of Net Position – Proprietary Funds ......................................................................................................... 31 Statement of Revenues, Expenses, and Changes in Fund Net Position – Proprietary Funds .................................... 32 Statement of Cash Flows – Proprietary Funds ........................................................................................................... 33 Fiduciary Fund Financial Statements
Statement of Fiduciary Net Position – Fiduciary Funds ............................................................................................. 35 Statement of Changes in Net Position – Fiduciary Funds........................................................................................... 36 Notes to Financial Statements ....................................................................................................................................... 37 Required Supplementary Information
Notes to Required Supplementary Information ......................................................................................................... 93 Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – General Fund ................ 95 Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Low Income Housing Special Revenue Fund ................................................................................................................................................. 96 Schedule of Changes in the Net Pension Liability and Related Ratios – Miscellaneous Plan .................................... 97 Schedule of the Plan’s Proportionate Share of the Net Pension Liability and Related Ratios as of the Measurement Date – Safety Police Plan ............................................................................................................................................ 98 Schedule of Contributions – Miscellaneous Plan ....................................................................................................... 99 Schedule of Contributions – Safety Police Plan ........................................................................................................ 100 Schedule of Changes in the City’s Net OPEB Liability and Related Ratios ................................................................ 101 Other Post-Employment Benefits Schedule of Contributions .................................................................................. 102

EXHIBIT A
62 Supplementary Information
Non-Major Governmental Funds ............................................................................................................................. 103 Non-Major Governmental Funds – Combining Balance Sheet................................................................................. 106 Combining Statements of Revenues, Expenditures and Changes in Fund Balances – Non-Major Governmental Funds ........................................................................................................................................................................ 110 Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Budgeted Non-Major Funds ........................................................................................................................................................................ 114 Internal Services Funds ............................................................................................................................................. 124 Combining Statements of Net Position – Internal Service Funds............................................................................. 125 Combining Statements of Revenues, Expenses and Changes in Net Position ......................................................... 127 Combining Statements of Cash Flow ........................................................................................................................ 129 Custodial Funds ........................................................................................................................................................ 131 Combining Statement of Fiduciary Net Position – Custodial Funds ......................................................................... 132 Combining Statement of Changes in Fiduciary Net Position .................................................................................... 133 Statistical Section
Financial Trends
Net Position by Component ..................................................................................................................................... 135 Changes in Net Position ............................................................................................................................................ 136 Fund Balances of Governmental Funds .................................................................................................................... 139 Changes in Fund Balances of Governmental Fund ................................................................................................... 140 Revenue Capacity
Taxable Sales by Category ........................................................................................................................................ 142 Direct and Overlapping Sales Tax Rates ................................................................................................................... 143 Principal Sales Tax Payers ......................................................................................................................................... 144 Assessed Value and Estimates Taxable Property ..................................................................................................... 145 Direct and Overlapping Governments Property Tax Rates ...................................................................................... 146 Principal Property Taxpayers .................................................................................................................................... 147 Property Tax Levies and Collections ......................................................................................................................... 148 Debt Capacity
Ratios of Outstanding Debt by Type ......................................................................................................................... 149 Direct and Overlapping Governmental Activities Debt ............................................................................................ 150 Legal Debt Margin Information ................................................................................................................................ 151 Demographic and Economic Information
Demographic and Economic Statistics ..................................................................................................................... 152 Population Demographics ........................................................................................................................................ 153 Principal Employers .................................................................................................................................................. 154 Operating Information
Full-Time Equivalent City Government Employees by Function/Program ............................................................... 155 Capital Assets Statistics by Function/Program ......................................................................................................... 156 Operating Indicators by Function/Program ............................................................................................................. 157 Water and Sewer Rates ............................................................................................................................................ 158 Water System – Revenues by Class of User ............................................................................................................. 159 Sewer Connection Fees ............................................................................................................................................ 160 Sewer System – Summary of Historical Operating Results ...................................................................................... 161 Schedule of Insurance .............................................................................................................................................. 162

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63 Livermore Successor Agency
Redevelopment Project – Historical Tax Revenues .................................................................................................. 164 Redevelopment Project – Ten Largest Taxable Property Owners............................................................................ 165 Redevelopment Project – Actual and Projected Tax Revenues and Debt Service Coverage ................................... 166

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65 Introductory Section
June 30, 2024
City of Livermore

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67 i
January 14, 2025
Honorable Mayor and Members of the City Council:

I am pleased to present the City's Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2024. State law requires that every general-purpose local government publish, within six months of the close of each fiscal year, a complete set of audited financial statements. This report fulfills that requirement for the fiscal year ended June 30, 2024.

Management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a comprehensive framework of internal control that it has established for this purpose. Because the cost of internal control should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements.

The data in this report is presented in a manner that is designed to fairly set forth the financial position and results of operations of the City of Livermore (the City). It contains the disclosures necessary to promote in-depth understanding of the City's financial affairs and evaluate its financial condition.

The City’s financial statements have been audited by Eide Bailly LLP located in Menlo Park, California. The independent auditors concluded, based on their audit, that there was a reasonable basis for rendering an unmodified (or “clean”) opinion that the City of Livermore’s financial statements for the fiscal year (FY) ended June 30, 2024, are fairly presented in conformity with generally accepted accounting principles. The independent auditor’s report is the first item presented in the financial section of this report.

In addition to the financial audit, each year the City is required to undergo an audit of federal grant expenditures.

That report is commonly referred to as a Single Audit report and is issued as a separate document and is not included herein. The Single Audit report includes the Schedule of Expenditures of Federal Awards, Findings and Recommendations, and an auditor's report on the internal control structure and compliance with applicable laws and regulations.

The provisions of Governmental Accounting Standards Board (GASB) Statement 34, “Basic Financial Statements— and Management’s Discussion & Analysis—for State and Local Governments” requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements entitled, “Management Discussion & Analysis” (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with the MD&A, which can be found immediately following the report of the independent auditors in the financial section of the ACFR.

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68 ii
City of Livermore
Letter of Transmittal
June 30, 2024
The City of Livermore, incorporated on April 1, 1876, is located on the southeasterly boundary of Alameda County.

The City of Livermore is a General Law city and has the power to make and enforce ordinances and regulations with respect to municipal affairs to the extent expressly permitted or implied by the California constitution or specific legislation. The City is organized as a council-manager form of local municipal government. The five-member City Council is elected at large for overlapping four-year terms. The City Council includes an elected Mayor whose term of office is two years.

On November 26, 2018, the City adopted an ordinance to transition from an at-large to district-based election system to comply with the California Voting Rights Act (California Government Code Section 34886 and 34871(c)).

The City Council selected a district map dividing the City into four single member districts. Starting with the general municipal election in November 2020, City Council members were elected in City Council districts 3 and 4. Council members were elected in City Council districts 1 and 2 beginning at the general municipal election in November 2022. The Mayor continues to be elected on an at large basis.

The City Council appoints the City Manager and City Attorney to carry out its adopted policies. In addition, the City Council appoints members of advisory Commissions, Committees, and Boards.

The City Council sets priorities and adopts the biennial budget on or before June 30 for each of the ensuing two fiscal years, which serves as the foundation for the City’s financial planning and control. The level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is maintained at the fund level. The City Manager may transfer resources within a fund. Supplemental appropriations and budget transfers between funds and projects, however, need approval from the City Council. The City's budgetary procedures are further discussed in Note 2 of the notes to the basic financial statements.

The City, with 491.4 full-time equivalent employees, provides a wide range of services to a residential population of 84,8281. These services include public safety (police, fire, building inspection, water, and sewer); street and landscape maintenance; street lighting; planning and public improvements; public libraries; general administrative services, and municipal airport services. Fire safety services are provided by a Joint Powers Authority, Livermore Pleasanton Fire Department (LPFD). Recreational services are provided to residents by the Livermore Area Recreation and Park District (LARPD), a special district governed by a separately elected board.

The City is also financially accountable for a legally separate Livermore Capital Projects Financing Authority (LCPFA), which is reported within the City’s financial statements as a blended component unit. Additional information on this legally separate entity can be found in the notes to the financial statements (see Note 1).

The information presented in the financial statements is perhaps better understood when it is considered from the broader perspective of the specific environment within which the City operates. _______________________________________
1 Data source: State of California, Department of Finance

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69 iii
City of Livermore
Letter of Transmittal
June 30, 2024
The City is the easternmost city in the San Francisco Bay Area situated in the growing Tri-Valley area which contains the cities of Pleasanton, Livermore, Dublin, and San Ramon. Livermore is conveniently located near two major freeways, I-580 and I-680, and is close to the metropolitan areas of San Francisco, Oakland, and San Jose. In addition to its proximity to the Oakland, San Francisco and San Jose International Airports, the City of Livermore owns and operates the Livermore Municipal Airport. This general aviation airport services private and corporate customers, and records more than 197,000 takeoffs and landings annually.

Livermore Valley Wine Country is one of the oldest wine regions in California. On November 22, 2021, the Livermore Valley Wine Heritage District was formed to provide funding for marketing and education efforts to increase winery sales revenue, and other improvements and activities for the 46 assessed wineries in Livermore Valley. Livermore is surrounded by award-winning wineries, farmlands, and ranches that mirror the valley’s history.

Less than an hour east of San Francisco, Livermore Valley Wine Country’s picturesque canyons and ridges welcome locals and visitors to the valley’s vineyards and tasting rooms, which are an integral part of Livermore’s quality of life. Popular wine bars, tasting rooms and boutique wine shops thrive in downtown Livermore as well.

Livermore is the home of two world-renowned national laboratories: Lawrence Livermore National Laboratory (LLNL) and Sandia National Laboratories (SNL). The laboratories are premier science and technology research facilities, which conduct some of the nation’s most innovative research related to several national programs, including security, combustion and renewable energy, water resources and biosciences. The presence of the laboratories attracts other technology and industrial companies as well as professional services businesses. In addition, one of the largest retail outlet malls in California is in Livermore and is home to over 180 leading designer and name brand outlet stores, as well as a growing number of small retailers.

In June 2024 the City’s unemployment rate of 3.9% continued to rank below the average unemployment rates of the nation (4.1%), county (4.7%) and state (5.3%). Employment in Livermore has historically been less volatile due to the presence of major public sector employers and their contractors. Besides the City itself, two national laboratories, a school district, a community college, and a park and recreation district are major employers in the City. The following chart shows a 15-year comparison of unemployment rates in the state and local areas as well as the U.S. by fiscal year.

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70 iv
City of Livermore
Letter of Transmittal
June 30, 2024
Source: State of CA – Employment Development Department A key indicator of the local economy is retail sales. Sales tax revenues are highly sensitive to economic conditions such as levels of unemployment, job growth, consumer confidence, per-capita income, and tourism.

It is important to be aware that approximately 15% of the City’s sales tax revenue is derived from the San Francisco Premium Outlets which focuses on high-end consumer goods. Many of the shoppers are tourists visiting the San Francisco Bay area. Out of the 4.8 million Livermore visitors, 2.7 million or 56% visited the San Francisco Premium Outlets (source: Placer AI).

Livermore’s taxable sales in FY 2023-24 were 1.0% higher than FY 2022-23 with the majority of gains coming from the Building and Construction group that are offset by losses in the Autos and Transportation and Business and Industry groups. The chart below illustrates the City’s sales tax revenue for FY 2023-24 by major industry group.

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71 v
City of Livermore
Letter of Transmittal
June 30, 2024
Source: HdL
The local real estate market and property value assessments are key indicators of the local economy. Property tax is less volatile compared to sales tax. The City’s assessed property valuation increased by 5.6% to $26.8 billion in FY 2023-24 compared to a 7.5% increase in the previous fiscal year.

Livermore’s real estate market continued to strengthen during FY 2023-24. As reported by the East Bay Association of Realtors, the median sales price for a single-family residence in Livermore remained about the same - $1.2 million in both June 2024 and June 2023 likely due to increased interest rates.

Source: East Bay Association of Realtors
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
$1,100,000
$1,200,000
$1,300,000
Median Single family Home Prices

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72 vi
City of Livermore
Letter of Transmittal
June 30, 2024
In its October 23, 2023 Publications, the Conference Board forecasts that US economic growth will experience moderate growth at year-end and early next year related to stronger consumer spending, increased after-tax income, and higher savings among US households as well as a healthy labor market that continues to support consumption. They forecast that real GDP will grow by 2.6 percent in 2024, and then fall to 1.7 percent in 2025.

Although Livermore’s current financial picture is positive, there are plenty of reasons for concern when we look out further on the financial horizon. The City is on a steady financial course, but still strives to achieve long-term financial stability, which is linked to adequately funding its long-term liabilities. While General Fund reserves are currently fully funded, future liabilities, increasing employee costs, and deferred infrastructure maintenance temper the City’s progress.

The single largest unaddressed financial challenge the City faces is the maintenance and replacement of its infrastructure. The City is in the process of developing a comprehensive infrastructure repair and replacement plan so that adequate resources are available when needed. In the meantime, the City established two capital reserves in June 2023 – Existing Asset Maintenance and Repair Reserve and New and Replacement Asset Reserve. As of June 30, 2024, there was a combined balance of $39.1 million in capital reserves. The City funds capital reserves through year-end surpluses and, depending on the City’s budget status, annual budget allocations.

Rising pension costs will continue to be a challenge for most public agencies. The City contributes to the California Public Employees’ Retirement System (CalPERS) for its Miscellaneous and Safety Police retirement plans. CalPERS implemented a 20-year rate amortization and a five-year phase-in effective from fiscal year 2016-17. The City’s “second tier” pension plan (2% at 60) coupled with the Public Employee Pension Reform Act (PEPRA) will reduce employee pension costs in the long-term. City staff will continue to monitor CalPERS changes and suggest prudent strategies to address these increases as the opportunities arise.

The FY 2023-25 Budget allocated approximately $20 million from General Fund resources for capital improvements, representing a significant investment in facility repairs and replacements, sidewalk repairs, street tree removal and replacement, wall repairs, and stormwater projects.

The City of Livermore, along with the San Francisco Bay Area and much of California, is in the middle of a homelessness crisis. The prolonged economic expansion, low interest rates through most of 2022, and housing shortage led to median home values skyrocketing throughout the Bay Area. As mentioned above, the median home price for a single-family home in Livermore is approximately $1.2 million on June 30, 2024. To purchase a median priced home with 10% down requires approximately $120,000 for down payment, $36,000 for closing costs, and approximately $191,600 in annual household income. The average rent in Livermore for a two-bedroom apartment is approximately $2,600 per month. A household will need an annual average income of $104,000 to afford this level of rent.

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73 vii
City of Livermore
Letter of Transmittal
June 30, 2024
A five-year General Fund Financial Plan is included in the City’s adopted budget. This is a valuable financial planning management tool, especially in challenging financial times, which assists the City Council in setting priorities and educating the community on the long-term state of the City’s finances. Inflation and historical growth rates are used to predict levels of expenditures. The expenditure base and revenue base are then adjusted for discrete changes that may occur within the five-year forecast period such as the addition of a major employer, retail center, hotel and/or additional housing development.

Perhaps the best measure of the City’s ability to withstand an economic downturn while maintaining current service levels and building sustained growth for the future is its fund balance reserves. In general, a city should maintain sufficient reserves to mitigate potential emergency scenarios. The City committed to maintaining General Fund reserves equal to at least 30% of annual General Fund budgeted expenditures and transfers related to debt service.

The City has maintained reserves equal to at least 30% since 2008 except for 2013 when reserves were equal to 29%.

The City Council sets goals and priorities through a 5-year Citywide Strategic Plan that guides the City’s budget and workplan. The Strategic Plan is organized around the following five broad community pillars:

1. A Safe Community that Thrives

2. Economy that Prospers

3. Environmental Stewardship

4. Inclusive and Inviting Spaces and Places

5. A City that Works

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74 viii
City of Livermore
Letter of Transmittal
June 30, 2024
The City made extensive progress towards each of these priorities. Some of the achievements realized during the FY 2023-24 are as follows:
• On November 8, 2022, Livermore voters approved Measure P to extend city sewer service beyond the South Livermore Urban Growth Boundary. The purpose of the service is to protect ground water quality and facilitate development of wine country land uses envisioned under the City's South Livermore Valley Specific Plan and Alameda County's South Livermore Valley Area Plan. City and County staff continue to coordinate funding and design of the system. Staff is currently getting proposals for the design. • On September 20, 2022, the Livermore Planning Commission approved renovation of the historic building located at the northwest corner of South Livermore Avenue and Second Street. The former SBC Building will be the new home of Farmers Union. Taking a cue from the same restaurant in San Jose, which is a staple in their downtown, the cuisine will feature house-smoked meats, seasonal and local vegetables, and comfort food classics. A roof top deck and prominent street presence will contribute to the downtown's revitalization at this prominent corner. Construction started in 2024 and is scheduled to be completed by fall 2025.
• The City Council adopted the Isabel Neighborhood Specific Plan in November 2020. The Specific Plan envisions a complete neighborhood around the future Valley Link train station. Three residential projects approved in the summer of 2022 and spring of 2023 are now under construction: 89 condominiums and 210 apartments in Shea Portola by Shea Homes and 184 condominiums in two projects by DeNova Homes. Four projects have received entitlement: The Park View, Isabel Crossings, Shea Tranquility, Shea Portola apartments. Entitlement is being reviewed for 139 townhomes and 110 affordable rentals on Cornerstone Chu Site.
• Repaired storm damage along city creeks and trails from last season's storms. • Constructing 452 space L Street Garage and site improvements which include 50 electric vehicle chargers and new pedestrian pathways. Pouring top level in December 2024. Expect opening in summer 2025. • Made significant progress on downtown remediation. Removed contaminated soil, installed soil vapor extraction wells and pipelines, obtained site closure for Blacksmith Square Expansion and Blackbox Theater sites, and received $7 Million in grant funding for remediation activities from the Department of Toxic Substances Control.
• Installed new crosswalks, repaired multi use trails, and installed new ADA ramps. • Repaired sidewalks through town by slicing and complete replacement. • Completing major primary and secondary treatment system upgrades at the Water Reclamation Plant. • Completed citywide overlay and slurry seal road renovations.

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75 ix
City of Livermore
Letter of Transmittal
June 30, 2024
• Completed improvements to Railroad Avenue between K Street and the Railroad Parking lot. Extended turn lanes, upgraded traffic signals and intersections, replaced sewer, renovated paving. • Completed Montage Trail Connection to Collier Canyon Road. • Installed additional storm drain capture devices.
• Installed two solar electric vehicle chargers at central city campus. • Completed upgrades to HVAC system at City Hall and the Police Building. • Completed the bidding process for replacement of the UV disinfection system. • Implemented a sidewalk repair strategic plan and repaired 573 city-responsible sidewalk defects in 2024. • Developed a 7-year tree pruning schedule for 21,000 city-responsible trees. • Launched the new 311 service request portal and added new features. • Successfully added Unleaded Aviation fuel to the airport, modifying the airport minimum standards and updating the associated Livermore Municipal Code.
• Converted 27,000 square feet of non-usable turf at City facilities and parks. • Provided 4,700 bags of compost to 2,300 households.
• Completed implementation of most of the modules in the Enterprise Resource Program (ERP) integrated financial and human resources system.
• Partnered with Las Positas College for Fire Academy.
• Upgraded Telestaff to cloud-based program.
• Installed technology upgrades to LPFD Headquarters and Training Rooms. • Migrated cell phones to AT&T First Net for improved communications.

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76 x
City of Livermore
Letter of Transmittal
June 30, 2024
Fund Balance Policy In June 2016, the City Council adopted a resolution updating the Livermore Fund Balance Policy to maintain the fiscal stability of the organization, to help maintain the City’s credit worthiness, and to provide funds for economic uncertainties, contingencies, and cash flow requirements. The General Fund Financial Stabilization Operating Reserve is set at 15 percent of budgeted operating expenditures plus debt service transfers to be used in a catastrophic event or in a major emergency or in periods of severe fiscal crisis. The General Fund Economic Uncertainty Reserve is set at 13.5 percent of budgeted operating expenditures plus debt service transfers to be used during times of severe economic distress such as protracted recessionary periods or other impactful unforeseen events which greatly diminish the financial ability of the City to deliver core services. Minimum unassigned fund balance is set at 1.5 percent of the budgeted operating expenditures plus transfers for debt service.

Infrastructure Repair and Replacement Funding As previously noted, Council adopted a resolution creating two capital reserves for general government-owned facilities and infrastructure to help ensure there is sufficient funding to address the City’s capital needs – Existing Asset Maintenance and Repair Reserve Fund and the New and Replacement Aset Reserve Fund.

Debt Management and Disclosure policy The City’s Debt Management and Disclosure Policy is intended to ensure compliance by the City with all applicable federal and state securities laws and regulations; to achieve the highest practical credit ratings within the context of the City’s financing needs and financing capabilities; and to establish maximum limits on the amounts of debt outstanding and the amount of annual debt service the City will consider.

This policy sets a ceiling for the cumulative annual payments related to debt from the General Fund at 7.5 percent of the previous fiscal year's General Fund revenue.

Timeliness of Financial Reporting Practices The City believes that time is of the essence in the publication of Budget and Annual Comprehensive Financial Report documents. The budget is adopted before June 30 and loaded into the financial system on the first day of the new fiscal year. The ACFR publication date is generally within 180 days of the close of the fiscal year. The City’s major financial documents are available on the web at www.livermoreca.gov.

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City of Livermore
Letter of Transmittal
June 30, 2024
GFOA Financial Reporting Certificate of Achievement
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of
Achievement for Excellence in Financial Reporting to the City of Livermore for its annual comprehensive financial report for the fiscal year ended June 30, 2023. This was the 35th consecutive year that the City of Livermore has achieved this prestigious award. To be awarded a Certificate of Achievement, a
government must publish an easily readable and efficiently organized annual comprehensive financial report. This report must satisfy both generally accepted accounting principles (GAAP) and applicable legal requirements.

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’s requirements, and we are submitting it to GFOA to determine its eligibility for another certificate.

This report represents the culmination of dedicated efforts by City staff both inside and outside of the Finance Division. The preparation of this report on a timely basis could not have been accomplished without the hard work and team effort of the entire financial reporting team. I wish to thank all departments for their assistance in providing the data necessary to prepare this report. I would like to express my appreciation and thanks to Ahmad Gharaibeh and his staff at Eide Bailly LLP. Credit is also due to the Mayor and the City Council members for their unfailing support for maintaining the highest standards of professionalism in the management of the City’s finances.

Very truly yours,
Tina Olson
Administrative Services Director

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78 xii
City of Livermore
Letter of Transmittal
June 30, 2024
Directory of City Officials
As of June 30, 2024
Elected Officials
Executive Team
Marianna Marysheva Jason Alcala
City Manager City Attorney
Assistant City Manager Paul Spence
Deputy City Manager Marie Weber
Director of Administrative Services Tina Olson
Director of Community Development Brent Smith
Director of Innovation & Economic Development Brandon Cardwell Director of Library Services Anwan Baker
Acting Director of Public Works Judy Erlandson
Fire Chief Joe Testa
Police Chief Jeramy Young

EXHIBIT A
79 xiii
Organization Chart
As of June 30, 2024
Residents of
Livermore
Mayor/ City
Council
City Manager
Administrative
Services
Cybersecurity
Finance
Human
Resources
Information
Technology
Community
Development
Building &
Safety
Engineering
Housing &
Human Services
Planning
Fire Department
Administration &
Fire Protection
Emergency
Operations
Innovation and
Economic
Development
Library Services Police
Department
Horizons
Public Works
Airport
Maintenance
Water Resources
City Attorney
Risk
ManagementCity Clerk

EXHIBIT A
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EXHIBIT A
81 Financial Section
June 30, 2024
City of Livermore

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83 1
Independent Auditor’s Report
To Honorable Mayor and Members
of the City Council of the City of Livermore
Livermore, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business‐ type activities, each major fund, and the aggregate remaining fund information of the City of Livermore, California (City), as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business‐type activities, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2024, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (Government Auditing Standards).

Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Restatement Due to Correction of an Error
As discussed in Note 19 to the financial statements, the prior year financial statements contained an error that was discovered during the current year. The prior year financial statements understated and, in some instances, overstated certain notes receivables. Accordingly, the beginning net position of the governmental activities, the fund balance of the Low-Income Housing-Special Revenue Fund and the fund balance of the Nonmajor Governmental Funds has been restated to incorporate the change in notes receivables. Our opinions are not modified with respect to this matter.

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EXHIBIT A
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Change in Accounting Principle
As discussed in Note 19 to the financial statements, the City changed the measurement date of its Net OPEB Liability. The beginning net position of the Governmental Activities, Business Type Activities, the Airport, the Water, the Sewer, the Stormwater and the Internal Service funds have been restated to reflect that change. Our opinion is not modified with respect to that matter.

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.

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.

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85 3
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.

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

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual, Schedule of Changes in the Net Pension Liability and Related Ratios, Schedule of the Plan’s Proportionate Share of the Net Pension Liability and Related Ratios, Schedule of Pension Contributions, Schedule of Changes in the City’s Net OPEB Liability and Related Ratios, and Schedule of OPEB Contributions be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

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 and individual fund financial statements and schedules are presented for purposes of additional analysis and are not a required part of the basic financial statements.

EXHIBIT A
86 4
The combining and individual fund financial statements and schedules are the responsibility of management and were derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual fund financial statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

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

In connection with our audit of the 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 January 14, 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 reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s 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 City’s internal control over financial reporting and compliance.

Menlo Park, California
January 14, 2025

EXHIBIT A
87 5
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
Management’s Discussion and Analysis
The purpose of the Management’s Discussion and Analysis is to offer to the reader of the City’s financial statements a narrative overview and analysis of the financial activities of the City of Livermore for the fiscal year ended June 30, 2024. The reader is encouraged to consider the information presented here in conjunction with the additional information furnished in the letter of transmittal, which can be found on page i of this report.

Financial Highlights
• The assets and deferred outflows of resources of the City of Livermore exceeded its liabilities and deferred inflows of resources at the close of fiscal year 2024 by $724.4 million (net position). Of this amount, $70.4 million represents unrestricted net position, which may be used to meet the City’s ongoing obligations to citizens and creditors.
• The City’s net position increased 4.02% (or $39.6 million) for the current fiscal year to $724.4 million from a net position balance of $696.3 million in the prior fiscal year of which $15.4 million was generated by governmental activities and $14.1 million was generated by business-type activities. • The City’s Net Pension liability increased $8.8 million from $155.2 million in the prior year to $164.0 million in fiscal year 2024, due to changes in CalPERS investment returns less than the discount rate. CalPERS reports have a measurement date one year behind the financials, and the City is expecting the Net Pension liability to decrease in next year’s financials due to investment gains exceeding the discount rate in fiscal year 2024. • The City had a total unrealized loss on investments of $9.5 million for fiscal year 2024. This is an improvement of $7.9 million from fiscal year 2023’s unrealized loss of $17.4 million. Staff has been working with the City’s investment advisor to reinvest maturities strategically to maximize investment income. The City should see unrealized losses narrow again next year with rate cut expectations and reinvesting maturing investments at higher rates. The City did not incur any actual losses. Actual investment income was $7.1 million in fiscal year 2024 from the City’s main portfolio, an increase of $1.5 million from fiscal year 2023. • At the close of fiscal year 2024, the City’s governmental funds reported combined fund balances of $275.4 million, an increase of $7.3 million from the prior fiscal year’s restated fund balance of $268.1 million due to increased property tax revenues, revenues from charges for services, and investment income, which is partially offset by increased transfers out and capital project expenditures. • At the end of the current fiscal year, the unrestricted fund balance (the total of the committed, assigned, and unassigned components of fund balance) for the General Fund was $86.5 million, or approximately 62.9% of total General Fund expenditures, and transfers out.

EXHIBIT A
88 6
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
Overview of the Financial Statements
This discussion and analysis are intended to serve as an introduction to the City’s basic financial statements. The City’s basic financial statements are comprised of three components: government-wide financial statements, fund financial statements, and notes to the basic financial statements. This report also contains supplementary information in addition to the basic financial statements.

Government-wide Financial Statements
The government-wide financial statements are designed to provide the reader with a broad overview of the City’s finances, similar to a private-sector business.

The Statement of Net Position presents information on all the City’s assets, deferred outflows, liabilities, and deferred inflows with the difference reported as Net Position. Over time, increases or decreases in Net Position may serve as a useful indicator of whether the financial position of the City is improving or declining.

The Statement of Activities presents information showing how the City’s Net Position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods. This is known as the full accrual basis of accounting.

Both government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or most of their costs through user fees and charges (business-type activities). The governmental activities of the City include the following functions: General Government (city council, city manager, city attorney, city clerk, finance, human resources), fire, police, public services, community development, economic development, and library. The business-type activities of the City include airport, water, sewer, and stormwater.

The government-wide financial statements include not only the City itself (known as the primary government) but also the activities of its legally separate component unit, the Livermore Capital Projects Financing Authority (LCPFA).

Since the City Council acts as the governing board for LCPFA and because this component unit functions as part of the City government, its activities are blended with those of the primary government. The government-wide financial statements can be found on pages 23-24 of this report.

Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been designated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All the funds of the City can be divided into three categories: governmental funds, proprietary funds and fiduciary funds.

EXHIBIT A
89 7
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
Governmental Funds
Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. This information may be useful in evaluating the City’s near-term financial requirements. The basis of accounting in governmental funds is known as the modified accrual basis.

The focus of fund financial statements is narrower than that of government-wide financial statements. It is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, the reader may better understand the long- term impact of the City’s near-term financing decisions.

Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate the comparison between governmental funds and governmental activities. This is required because the government-wide statements are prepared on the full accrual basis of accounting while the fund statements are prepared on the modified accrual basis of accounting.

The governmental fund financial statements provide separate information for all major funds, while non-major funds are combined in a single column. In fiscal year 2024, the City identified two major governmental funds, which are the General Fund, and the Low-Income Housing Fund.

Proprietary Funds
The City maintains two different types of proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The City uses enterprise funds to account for its airport, water, sewer, and stormwater activities. Internal service funds are used to accumulate and allocate costs internally among the City’s various functions. The City uses internal service funds to account for the management of its retained risk for general liability and workers’ compensation, and for its fleet and equipment services, information technology, cybersecurity, and facilities rehabilitation.

Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for all four of the City’s enterprise funds. These funds are Airport, Water, Sewer, and Stormwater. All the City’s internal service funds are combined into a single, aggregated presentation in the propriety fund financial statements. Individual fund data for the internal service funds is provided in the Supplemental Information section of this report.

Fiduciary Statements
Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds activities are excluded from the City’s government-wide financial statements because the City cannot use these assets to finance its own operations.

The City maintains two different types of fiduciary funds. The Private-Purpose Trust Fund is used to account for the assets and liabilities held in trust for the Successor Agency to the former Redevelopment Agency; and Custodial Funds are used to account for monies collected and disbursed in a custodial capacity for the Livermore Pleasanton Fire District JPA and other agencies. The fiduciary fund financial statements can be found on pages 35-36.

EXHIBIT A
90 8
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
Notes to the Basic Financial Statements
The notes to the basic financial statements provide important additional information that is essential to a full understanding of the data reported in the government-wide and fund financial statements. The notes to the basic financial Statements are found on pages 37-91.

Other Information
In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information related to the City’s changes in net pension liability, employer’s contribution to the pension plans, the Schedule of Changes in the City’s OPEB Liability, the Schedule of Contributions for other post- employment benefits, and the budgetary comparison schedules for major governmental funds. Required supplementary information can be found on pages 93-102.

Individual fund data for non-major governmental funds, internal services funds, and fiduciary funds are presented immediately following the required supplementary information beginning on pages 103-133 of this report.

Government-wide Financial Analysis
As noted earlier, the City’s net position serves as a useful indicator of whether the City’s financial position is improving or deteriorating. Other factors, such as market conditions, should be considered when measuring the City’s overall financial position. This analysis focuses on the net position and changes in net position of the City as a whole. As shown in the chart below, total government-wide assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $724.4 million, at the close of the most recent fiscal year.

Long‐term liabilities, which consists mostly of claims, debt, compensated absences, pension, and postemployment benefit obligations, increased by $1.9 million from the previous year for governmental and business‐type activities combined. The City’s debt decreased by $7.0 million due to scheduled debt payments. The City’s total pension liability increased by $8.8 million.

EXHIBIT A
91 9
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
2024 2023, restated* 2024 2023, restated* 2024 2023, restated* Assets:

Current and other assets 289.8$ 287.2$ 172.5$ 167.7$ 462.3$ 454.9$ Capital assets 401.0 389.5 159.4 146.5 560.4 536.0 Total assets 690.8 676.7 331.9 314.2 1,022.7 990.9 - Total Deferred outflows of resources 52.7 52.4 6.8 6.9 59.5 59.3 Liabilities:

Long-term liabilities outstanding 259.1 257.0 32.9 33.1 292.0 290.1 Other liabilities 34.6 33.0 11.6 6.7 46.2 39.7
Total liabilities 293.7 290.0 44.5 39.8 338.2 329.8 - Total Deferred inflows of resources 7.8 11.2 11.9 12.9 19.7 24.1 - Net position:

Net investment in capital assets 313.7 330.0 153.0 139.2 466.7 469.2 Restricted 187.2 189.5 - - 187.2 189.5 Unrestricted (58.9) (91.6) 129.3 129.2 70.4 37.6 Total net position 442.0$ 427.9$ 282.3$ 268.4$ 724.3$ 696.3$ * The prior year's amounts were not restated for the change the net OPEB liability measurement date 1 Numbers might not tie to financial statements due to rounding City of Livermore Net Position
(in Millions)1
Governmental actitivies Business-type activities Total
By far, the largest portion of the City’s net position ($466.7 million or 64.4%) reflects its investment in capital assets (e.g., land, buildings, machinery, equipment, vehicles, and infrastructure), less any related outstanding debt that was used to acquire those assets. The City uses these capital assets to provide a variety of services to its citizens.

Accordingly, these assets are not available for future spending. Although the City’s investment in capital assets is reported net of related debt, it should be noted that the resources used to repay this debt must be provided from other sources, since the City is unlikely to use the capital assets themselves to liquidate these liabilities.

An additional portion of the City’s net position ($187.2 million or 25.8%) represents resources that may be used only for specified capital projects, special revenue programs, or landscape and maintenance. The restrictions on these funds were placed there by outside agencies and are not subject to change by the City.

At the end of fiscal year 2024, except for unrestricted net position, the City is able to report positive balances in all reported categories of net position, both for the government as a whole, as well as for its separate business-type activities. The unrestricted category for governmental activities had a deficit balance of $58.9 million as of the end of fiscal year 2024. The deficit is caused primarily by $97.0 million in the unfunded pension liabilities and $25.5 million in postemployment liabilities including the related deferred inflows and outflows of resources. The unfunded net pension liabilities and net OPEB liabilities will be funded annually in accordance with actuarially determined contribution rates. The positive component of the governmental activities unrestricted net position, excluding the effects of pension and OPEB liabilities, is $63.6 million and may be used to meet the City’s ongoing obligations to citizens and creditors.

Overall, the City’s net position increased by $29.6 million to $724.4 million in fiscal year 2024 from $694.9 million for the prior fiscal year. The reasons for this overall increase are discussed in the following sections for governmental activities and business-type activities.

EXHIBIT A
92 10
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
2024 2023*, restated 2024 2023*, restated 2024 2023*, restated Revenues
Program revenues:

Charges for services 16.3$ 16.7$ 59.2$ 52.2$ 75.5$ 68.9$ Operating contributions and grants 12.2 15.8 0.8 0.6 13.0 16.4 Capital grants and contributions 10.0 3.3 2.3 2.7 12.3 6.0 Total program revenues 38.5 35.8 62.3 55.5 100.8 91.3 General revenues:

Property taxes 46.6 44.8 - - 46.6 44.8 Sales taxes 39.6 39.0 - - 39.6 39.0 Other taxes 26.5 25.9 - - 26.5 25.9 Intergovernmental 13.5 12.2 - - 13.5 12.2 Investment income 11.5 4.0 5.9 0.8 17.4 4.8 Miscellaneous 6.2 8.8 - - 6.2 8.8
Total general revenues 143.9 134.7 5.9 0.8 149.8 135.5 Total Revenues 182.4 170.5 68.2 56.3 250.6 226.8 Expenses
General Government 19.6 15.5 - - 19.6 15.5 Fire 28.7 25.4 - - 28.7 25.4
Police 41.3 41.0 - - 41.3 41.0
Public Works 25.6 21.4 - - 25.6 21.4 Community Development 33.5 21.5 - - 33.5 21.5 Economic Development 3.2 2.9 - - 3.2 2.9
Library 8.8 6.9 - - 8.8 6.9
Interest on long term debt 2.8 2.8 - - 2.8 2.8
Airport - - 3.4 3.0 3.4 3.0
Water - - 19.5 18.3 19.5 18.3
Sewer - - 27.1 25.2 27.1 25.2
Stormwater - - 7.5 5.3 7.5 5.3
Total expenses 163.5 137.4 57.5 51.8 221.0 189.2 Increase (Decrease) in Net Position
before transfers 18.9 33.1 10.7 4.5 29.6 37.6 Transfers, net (3.5) (2.3) 3.5 2.3 - -
Changes in net position 15.4 30.8 14.2 6.8 29.6 37.6 Net position - Beginning as restated 426.7 397.2 268.4 261.6 695.1 658.8 Net position - Ending 442.1$ 428.0$ 282.6$ 268.4$ 724.7$ 696.4$ * The prior year's amounts were not restated for the change the net OPEB liability measurement date 1 Numbers might not tie to financial statements due to rounding Changes in Net Position (in Millions)1
Governmental Activities Business-Type Activities Total
Governmental Activities
The Statement of Activities presents program revenues and expenses, and general revenues in detail. The City’s governmental activities Net Position was $442.1 million on June 30, 2024, an increase of $15.4 million over the 2023 restated balance of $428.0 million.

EXHIBIT A
93 11
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
Total revenues from governmental activities were $182.3 million. The largest component of total revenue is taxes at $112.7 million, making up 61.8% of total revenues. As shown in table on the previous page, $38.5 million, or 21.1%, of the City’s Governmental Activities revenue in fiscal year 2024 came from program revenues out of which charges for services accounted for 8.9% of total governmental revenues while Operating and Capital Grants made up 12.2% of the total governmental revenues.

Program revenues for governmental activities increased by $2.7 million during the year due to an increase of $3.1 million for total grants and contributions, offset by a $0.4 million decrease in charges for services. General revenues experienced an increase of $9.2 million in the current year primarily due to an increase of $7.5 million in investment income, and $3 million increase in taxes. You can find additional details under the Fund Financial Statements Analysis.

The sources of the revenues shown previously are portrayed in the chart below by percentage for the Governmental Activities. The City’s reliance upon tax revenues is evident from the sources of revenue chart, indicating that more than half of the City’s total governmental activities revenue comes from general tax revenues. This is consistent with the nature and purpose of governmental funds, particularly in the General Fund, where programs are largely supported by general taxes.

Citywide Governmental Activities
Charges for
Services

8.9%
Grants &
Contributions

12.2%
Property taxes

25.5%
Sales taxes

21.7%
Other taxes

14.5%
Miscellaneous

3.4%Investment
income

6.3%
Intergovernmental

7.4%
Sources of Revenue
General
Government

12.0%
Fire

17.6%
Police

25.2%
Public Works

15.7%
Community
Development

20.4%
Economic
Development

2.0%
Library

5.4%
Interest

1.8%
Functional Expenses
Total expenses, including capital projects, were $163.4 million in the current fiscal year, an increase of $26.1 million from the prior year. The largest increases were in Community Development by $12.0 million, Public Works by $4.2 million, and General Government by $4.1 million.

EXHIBIT A
94 12
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
The Functional Expenses chart above shows Police and Fire accounted for 42.9% of total governmental expenses while Community Development accounted for 20.4%, Public Works 15.7% and other governmental programs 21.0%.

As shown in the graph below, during fiscal year 2024, the cost of all activities exceeded the revenue generated by those programs. This is to be expected as other general sources of revenues such as property taxes, sales taxes, other taxes, and investment income are used to subsidize the gap between program expenditures and program revenues.

Business-type Activities
For the City’s business-type activities, the results for fiscal year 2024 were positive in that the overall net position increased to reach an ending balance of $282.3 million. The total increase in net position for business-type activities was $14.2 million or 5.3% from fiscal year 2023 net position. Overall business type program revenues increased by $6.8 million from fiscal year 2023 level of $55.5 million to $62.3 million in fiscal year 2024. The increase was mostly due to an increase of $6.9 million in charges for services.

Program expenses increased by $5.7 million to a total of $57.5 million in the current year. The major reason for the increase is related to increased personnel, insurance, and repair and maintenance projects.

EXHIBIT A
95 13
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
Analysis of the Fund Statements
The table below summarizes the activities and balances of governmental funds. As of June 30, 2024, the City’s governmental funds reported combined fund balances of $275.4 million, an increase of $7.3 million from the prior year ending fund balance of $268.1 million. Approximately 4.3% of this amount ($11.8 million) is available for spending at the government’s discretion (unassigned fund balance). See Note 10 for detailed classifications of the City’s governmental fund balances.

During fiscal year 2024, the City experienced an overall increase of $15.5 million in revenues for the governmental funds primarily due to increases in interest income, property tax, and charges for services.

Governmental Funds 2024 2023*, restated
Total assets 307.0$ 301.0$
Total liabilities 24.8 24.4
Total deferred inflows 6.8 8.5
Total fund balances 275.4 268.1
Total revenues 183.9 168.4
Total expenditures 169.2 147.0
Total other financing sources (uses) (7.5) 39.3
* The prior year's amounts were not restated for the change the net OPEB liability measurement date Financial Highlights at Fund Level at June 30
(in Millions)
The following are contributing factors affecting the revenues this fiscal year:
• Property tax revenues grew by almost $2.0 million in fiscal year 2024 primarily from assessed valuation growth.
• Overall sales tax revenues increased by approximately $0.5 million compared to the prior fiscal year as inflation and rising interest rates slowed large purchases. • Use of money and property increased $9.8 million as interest rates rose throughout the year and the year-end market value adjustment loss narrowed in the current year. • Charges for services revenue increased $3.8 million as certain impact fees and in-lieu fees were collected. • Miscellaneous revenue decreased $4.2 million due a one-time settlement in fiscal year 2023.

In fiscal year 2024 expenditures for governmental funds totaled $169.2 million, an increase of $22.2 million (or

15.1%) from fiscal year 2023 total of $147.0 million. The largest contributor to the change was an increase of $8.0 million in capital projects and an increase of $1.0 million in debt service. The rest of the increases were due to increased Community Development and Public Works departments’ repair and maintenance expenses. with increases of $6.5 million and $1.5 million, respectively. The fire department expenses increased by $3.1 million.

EXHIBIT A
96 14
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
Analysis of Major Governmental Funds
General Fund
The General Fund is the chief operating fund of the City of Livermore. At the end of the current fiscal year, the total fund balance of the General Fund was $92.1 million, out of which $12.3 million was unassigned.

As a measure of the General Fund liquidity, it may be useful to compare both unassigned fund balance and total fund balance to total General Fund expenditures and transfers-out. The unassigned fund balance of $12.3 million represents approximately 8.9% of total General Fund expenditures and transfers out, while the total fund balance of $92.1 million represents approximately 66.7% of the same amount.

The non-spendable fund balance of $5.5 million represents balances set aside for specific items and therefore, are unavailable. The Committed Fund Balance of $20.7 million represents Financial Stabilization Operating Reserve which can only be used in a catastrophic event, major emergency, or in periods of severe fiscal crisis. The Assigned General Fund Balance of $53.6 million represents the Economic Uncertainty Reserve, CIP, and Infrastructure Replacement reserve. The Economic Uncertainty Reserve will be used during times of protracted recessionary periods. The Unassigned Reserve in this report shows a balance of $12.3 million. This amount is what can be used to allocate to other priorities for the City, and in fiscal year 2025 $10.1 million of the Unassigned Reserve has been allocated to increased expenditures in fiscal year 2025 for carryforward contracts ($1.0 million) and shifted to other reserves ($9.1 million). This leaves the balance of the Unassigned Reserve at $2.2 million. See Note 10 for further information.

Fund Balance Categories- General Fund
Local taxes, including property tax, sales taxes, transient occupancy tax, and business license taxes are the primary revenue source for the General Fund, constituting 74.1% of revenues in fiscal year 2024. These revenue sources are highly susceptible to economic fluctuations.

EXHIBIT A
97 15
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
The General Fund revenues were $145.5 million in fiscal year 2024, a $3.1 million increase from fiscal year 2023 amount of $142.4 million. As discussed in detail under “The City’s Fund Financial Statements”, increase mainly came from property tax ($1.8 million), use of money and property ($6.6 million). Decreases came from miscellaneous ($7.2 million) and sales tax ($0.6 million) from the prior year. The decrease in miscellaneous was expected this year, as fiscal year 2023 had one-time revenues for a settlement and sale of property totaling $7 million. Adjusting for the one-time revenues in fiscal year 2023, ongoing miscellaneous revenue only had a decrease of $0.2 million in fiscal year 2024.
2024 2023
Revenues
Property taxes and special assessments $46.6 $44.8
Sales Taxes 39.6 39.0
Other taxes 21.8 21.4
Licenses and permits 3.4 4.0
Intergovernmental 13.5 12.2
Contributions from outside sources 0.1 -
Fines and forfeitures 0.3 0.4
Charges for current services 9.4 9.0
Use of money and property 10.4 3.8
Miscellaneous 0.6 7.8 -
Total Revenues 145.5 142.4
Expenditures
Current:

General Government: 16.0 15.8
Fire 28.0 24.9
Police 43.5 42.4
Public Works 8.7 8.7
Community Development 16.8 16.3
Economic Development 2.7 2.9
Library 6.8 6.3
Capital Outlay 0.3 1.3
Debt service: -
Principal 0.0 -
Interest and fiscal charges 0.0 - -
Total Expenditures 122.9 118.6
Excess (Deficiency) of Revenues over Expenditures 22.7 23.7 Other Financing Sources (Uses)
Transfers in 0.7 0.3
Transfers (out) -14.5 (8.2)
Total Other Financing Sources (Uses) -13.8 (7.9)
Net Change in Fund Balances 8.1 15.1
Fund Balances- Beginning 83.9 68.8
Fund Balances- Ending 92.1$ $83.9
General Fund
Statement of Revenues, Expenditures And Changes In Fund Balances (in Millions)

EXHIBIT A
98 16
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
The next table on the following page shows the original budget, final amended budget, and the actual results for fiscal year 2024. The original budget was amended to reflect the change in economic expectations between the adoption of the original and final budget. The variances computed are between the final budget and actual results.

General Fund property tax revenues increased because of increased assessed values and home sales from the previous fiscal year and came in right at expectation. Use of money and property was $4.6 million over budget, and this was due to the increased interest rates on investments and the improvement of the unrealized market value adjustment of nearly $3.5 million that is not budgeted. Sales tax came in under budget by $1.3 million as increased interest rates slowed consumer spending.

From an expenditure perspective, total expenditures and transfers out came under budget. Expenditures for most departments were under budget for fiscal year 2024 primarily due to vacant positions. Community Development, Police, General Government, and capital projects accounted for $11.1 million under budget. The other departments variances totaled $1.1 million under budget, with Fire being the only department over budget for Livermore only expenditures by $0.2 million due to higher-than-expected expenses in utilities for the year.

Original Budget Final Budget Actual
Variance Final
Budget to Actual
Positive/
(Negative)
Variance
Final
Budget to
Actual (%)
Revenues and transfers in:

Property taxes $46.6 $46.6 $46.6 $0.0 -0.1%
Sales taxes 40.8 40.8 39.6 -1.3 -3.12%
Other taxes 22.4 22.4 21.8 -0.6 -2.84%
Licenses and permits 3.5 3.5 3.4 -0.1 -4.03%
Intergovernmental 12.9 13.0 13.5 0.5 4.19%
Contritbutions from outside sources 0.0 0.0 0.1 0.1 #DIV/0! Fines and forfeitures 0.4 0.4 0.3 0.0 -6.66%
Charges for current services 8.2 8.2 9.4 1.2 14.12%
Use of money and property 5.8 5.8 10.4 4.6 79.90%
Miscellaneous 0.5 0.5 0.6 0.0 7.00%
Total revenues 141.2 141.2 145.5 4.3 3.1%
Transfers in 2.0 2.0 0.7 -1.2 -62.58%
Total revenues and transfers in $143.1 $143.2 $146.3 $3.1 2.15% Expenditures and transfers out:

General Government: $17.0 $17.7 $16.0 $1.8 9.9%
Fire 27.8 27.8 28.0 -0.2 -0.8%
Police 46.2 46.8 43.5 3.2 6.9%
Public Works 10.1 10.1 8.7 1.4 13.9%
Community Development 20.3 21.0 16.8 4.2 19.9%
Economic Development 3.1 3.1 2.7 0.4 13.9%
Library 6.9 7.0 6.8 0.2 3.3%
Capital projects 1.9 2.3 0.3 1.9 85.8%
Debt service 0.0 0.0 0.8 -0.8 0.0%
Total expenditures 133.3 135.8 123.6 12.2 9.0%
Transfers out 14.4 14.4 14.5 -0.1 -0.9%
Total expenditures and transfers out $147.6 $150.2 $138.2 $12.0 8.01% General Fund Budgetary and Actual Variance Analysis
(in Millions)

EXHIBIT A
99 17
City of Livermore
Management’s Discussion and Analysis
June 30, 2024
Low Income Housing Fund
This fund is established to account for the receipt and disbursement of in-lieu low-income housing impact fees collected from developers and used to finance affordable housing developed offsite. Fiscal year 2024 revenues increased by $2.1 million mostly from a large housing fee collected in the year, while expenditures increased by $0.2 million due to slightly more new housing loans or notes activity in the current year.

Restatement of Notes Receivable
During the year end audit in fiscal year 2023 the City, at the direction of the City’s auditor, reclassified low-income housing loans as assets and included low-income housing loans on the City’s balance sheet. The City compiled its loans, and as a result, a beginning balance restatement of the City’s housing notes receivables, totaling $45.4 million occurred. Over fiscal year 2024, the City’s Finance division and Housing and Human Services division completed a very thorough inventory of the housing related notes receivables ensuring that all known loans are recorded correctly based on probable collectability that considers length of loans and position of repayment related to residual receipts. Following the completion of this reconciliation of the housing related loans, the City’s notes receivable was restated again by ($6.5) million. Formal policy and procedures regarding issuance of loans is now in place to ensure proper recordation. Information on the City’s notes receivable balances can be found in Note 5 of the financial statements. For more information on the beginning balance restatement, please see Note 19.

Analysis of Major Enterprise Funds
Airport Fund
The Livermore Municipal Airport is a General Aviation Reliever Airport, which serves private, business and corporate tenants and customers. Airport revenues are primarily comprised of short and medium-term hangar and tie-down space rents as well as Fixed Base Operator (FBO) and approved non-aeronautical ground rents. The Airport leases 393 hangar units and has 134 aircraft tie-down spaces. Approximately 465 aircraft are currently based at the Airport and all hangar units are occupied.

Operating revenue of $3.7 million was comparable to the previous fiscal year. Operating expenses increased by $0.4 million due to higher cost of sales, salaries, and benefits.

Net nonoperating revenues increased by $0.5 million due to increases in investment income ($0.2M), federal grant ($0.2M), and rental of city owned property ($0.1M) revenues. The federal grant revenue is composed of Covid CARES Act funding.

Water Fund
The Water Enterprise purchases potable water from water wholesaler Zone 7 Water Agency, and then distributes the water to customers in the Livermore Municipal Water service area. The City’s municipal water service area has a combined residential and commercial customer base of approximately 10,600 water accounts. Each water bill consists of a flat rate City meter service charge based on the size of meter that is located at the property (fixed charge), a City consumption charge for water used at the property (variable charge), and pass-through of wholesale water charges.

EXHIBIT A
100
18 City of Livermore
Management’s Discussion and Analysis
June 30, 2024
Water operating revenue increased by 6% from $17.4 million to $18.4 million. The combined annual Livermore Municipal Water and Zone 7 rate increase was approximately 5%.

Operating expenses were $1 million higher compared to the prior year, primarily due to increases in the purchase of water from Zone 7. Net nonoperating revenues (expenses) increased by $1.4 million due to year end market value adjustment of the City’s investments.

Sewer Fund
The Sewer Enterprise is responsible for the operation, maintenance, and periodic replacement of the City’s sewer, collection system, wastewater treatment and recycled water production systems. It operates and maintains the Livermore Water Reclamation Plant, which provides wastewater treatment and disposal, and produces recycled water for landscape irrigation and other uses. The Plant currently treats approximately 5.3 million gallons of wastewater each day from throughout the Livermore area.

The Sewer Fund’s net operating income was $4.6 million in the current fiscal year compared to $4.9 million in fiscal year 2023. Operating revenues were $1.4 million higher in the current year, primarily due to an increase in sewer rates. Revenue is expected to continue to rise as the City Council approved a comparable rate increase for the next fiscal year. Operating expenses of $26.4 million experienced a 7% increase from $24.7 million in the prior year. The increase is due to increases in cost of sales, salaries and benefits expenses and contracted services expense. The contracted services expense increase of $0.7 million was due to higher LAVWMA operations and maintenance expenditures.

Nonoperating revenues (expenses) increased by $7.5 million due to year end market value adjustment of the City’s investments ($3.1 increase) and change in value in the JPA-LAVWMA investment ($4.4 million.) LAVWMA is a joint venture that operates the export pipeline connecting with the East Bay Discharges Authority’s systems and discharges treated wastewater into San Francisco Bay.

Stormwater Fund
The Stormwater Enterprise is responsible for costs associated with the implementation of the City’s stormwater management and discharge control program along with the operation and periodic replacement of the stormwater conveyance system. Operating revenues of $1.2 million remained flat while operating expenses rose by $2.1 million.

The main driver behind the operating expenses increase was capital improvement program repair and maintenance which was $2.1 million higher than previous fiscal year. These expenditures consisted of repair projects related to 2023 major storm events.

Transfers in, composed of a transfer from the General Fund, rose by $1.2 million from $2.3 million to $3.5 million.

EXHIBIT A
101
19 City of Livermore
Management’s Discussion and Analysis
June 30, 2024
Capital Assets
GASB 34 requires the City to record all its capital assets including infrastructure. Infrastructure includes roads, bridges, signals, and similar assets used by the entire population. The City depreciates all its capital assets over their estimated useful lives, as required by GASB 34. The purpose of depreciation is to spread the cost of a capital asset over the years of its useful life so that an allocable portion of the cost of the asset is borne by all users.

The City’s investment in capital assets for its governmental and business-type activities as of June 30, 2024, amounts to $560.0 million (net of accumulated depreciation). This investment in capital assets includes land, buildings, machinery, equipment, vehicles, roads, highways, and the water reclamation plant. At the end of fiscal years 2024 and 2023, the cost of capital assets recorded on the City’s financial statements was as shown in the table as following.
2024 2023 2024 2023 2024 2023
Land and Land Improvements 43.8$ 43.8$ 14.0$ 14.0$ 57.8$ 57.8$ Intangible Assets 4.5 4.5 - - 4.5 4.5
Construction in progress 61.4 85.3 27.6 14.1 89.0 99.4
Buildings 154.0 123.6 23.0 22.7 177.0 146.3 Equipment and vehicles 38.0 36.6 13.9 9.2 51.9 45.8
Infrastructure 392.0 375.0 - - 392.0 375.0 Airport Infrastructure - - 12.0 12.0 12.0 12.0
Water Infrastructure - - 60.8 59.9 60.8 59.9
Sewer Infrastructure - - 143.3 142.1 143.3 142.1 Stormwater Infrastructure - - 112.6 112.3 112.6 112.3 Right-to-use subscription IT assets 4.0 4.0 0.4 0.4 4.4 0 4.4 Less accumulated depreciation and
amortization (297.0) (283.3) (248.3) (240.3) (545.3) (523.6) Totals 400.7$ 389.5$ 159.3$ 146.4$ 560.0$ 535.9$ Capital Assets at Year-end
(in Millions)
Governmental actitivies Business-type activities Total
The total capital assets for fiscal year 2024 increased by approximately $24.1 million (or 4.5%) due to increased expenditures in the current year. Major capital asset expenditures during fiscal year 2023-24 included the following:
• Project 586003 L Street Garage had total costs of $15 million in fiscal year 2024, with expenses to date of $24.2 million. This project is continuing into fiscal year 2025, with anticipated substantially complete date in summer of 2025.
• Project 201931 WRP Primary and Secondary Treatment Improvements had total costs of $18.1 million in fiscal year 2024, with expenses to date of $23.5 million. This project is continuing into fiscal year 2025. • Project 201830 City Hall HVAC and Central Plant Chiller Replacement had total costs of $2.8 million in fiscal year 2024, with expenses to date of $3.9 million. This project has since been completed in fiscal year 2025.

EXHIBIT A
102
20 City of Livermore
Management’s Discussion and Analysis
June 30, 2024
There were also several major projects that were complete and closed out in fiscal year 2024. Some of these completed projects include the following:
• I Street Garage – total cost $17.0 million
• New Civic Center Meeting Hall – total cost $11.4 million • Livermorium Park - total cost $5.4 million
• WRP Emergency Generator - total cost $4.6 million
• Trevarno Road Water and Sewer Infrastructure - total cost $1.6 million Additional information on capital assets may be found in Note 7 on pages 53-57 of this report.

Debt Administration
Each of the City’s debt issues is discussed in detail in Note 8 to the financial statements. As of June 30, 2024, and 2023, the City’s debt comprised the following:
2024 2023 2024 2023 2024 2023
Certificates of Participation 80.1$ 84.3$ 6.2$ 6.7$ 86.3$ 91.0$ Notes payable 0.4 0.7 - - 0.4 0.7
Capital Leases 4.5 5.4 0.2 0.2 4.7 5.6
Totals 85.0$ 90.4$ 6.4$ 6.9$ 91.4$ 97.3$ Outstanding Debt
(in Millions)
Governmental actitivies Business-type activities Total
The outstanding debt in the current fiscal year decreased by $5.4 million for the governmental activities and decreased by $0.5 million for business type activities. The $5.9 million total decrease in debt is due to continued payments and amortization of premiums on the 2020 and 2022 COPS, as well as other debt payments. Refer to note 8 for further information.

Economic Factors and Next Year’s Budget
The economic factors affecting the City and its long-term financial plan are discussed in detail in the accompanying Transmittal Letter.

The total appropriation for fiscal year 2025 is $363.5 million for all City activities, including allocations to fund balance reserves. The fiscal year 2025 budget continues to provide resources for the City’s long-term obligations, including fleet and information technology replacement needs, capital improvements, and other post-employment benefits.

EXHIBIT A
103
21 City of Livermore
Management’s Discussion and Analysis
June 30, 2024
Property tax revenue in fiscal year 2025 is projected to be $48.6 million, an increase of 4.3%, or $2.0 million, compared to current year’s budgeted revenue as property values are expected to continue to rise because of additional development and increased property value. Sales tax is projected to be $41.9 million, an increase of 2.6%, or $1.1 million, for the next fiscal year compared to the current year’s budgeted revenue. The City will evaluate the local economic conditions as well as the City’s portfolio of the sales tax producers, and revise the sales tax forecast in next budget cycle, as appropriate. Use of money and property is projected to be $7.1 million, an increase of

23.7%, or $1.4 million compared to fiscal year 2024’s budgeted revenue as interest rates rose causing increases to investment income. Other revenues have also been projected slightly upwards to reflect anticipated increase in demand for services.

The General Fund budget for fiscal year 2025 provides $148.8 million in resources, and $164.5 million in uses, including $7.7 million for the Capital Improvement Plan (CIP). The Proposed Financial Plan Update shows a General Fund budget shortfall of $15.7 million in fiscal year 2025 that will require use of capital reserves to fund $13.5 million in capital projects in fiscal year 2025, $1.4 million for contracts carried forward from fiscal year 2024, and $1.1 million of reserves for Police wage increases.

The General Fund’s operating expenditures are projected to grow by $7.6 million to $141.1 million from fiscal year 2024 budgeted expenditures of $133.5 million with anticipated increases in employment-related costs, consulting services and other costs associated with the capital projects.

The fund balance for the General Fund at the end of operations for fiscal year 2025 is estimated at $83.6 million with $43.0 million in reserves and $5.4 million in spendable fund balance available for appropriations, excluding capital reserves.

Requests for Information
The Annual Comprehensive Financial Report is intended to provide a general overview of the City’s finances for readers of the financial statements. Questions concerning any of the information in this report or requests for additional financial information should be addressed to the Administrative Services Director, 1052 South Livermore Avenue, Livermore, CA 94550-4899.

EXHIBIT A
104
22 City of Livermore
June 30, 2024
Statement of Net Position and Activities
The Statement of Net Position and the Statement of Activities summarize the entire City’s financial activities and financial position. They are prepared on the same basis as is used by most businesses, which means they include all the City’s assets, deferred outflows, liabilities, and deferred inflows as well as all its revenues and expenses. This is known as the full accrual basis—the effect of all the City’s transactions is considered, regardless of whether or when cash changes hands, but all material internal transactions between City funds have been eliminated.

The Statement of Net Position reports the City’s total assets, liabilities, and deferred inflows of resources, deferred outflows of resources and includes all the City’s capital assets and all its long-term obligations. The Statement of Net Position presents similar information in a way that focuses the reader on the composition of the City’s Net Position, by subtracting total liabilities and deferred inflows of resources from total assets and deferred outflows of resources.

The Statement of Net Position summarizes the financial position of the entire City’s Governmental Activities in a single column and the financial position of the entire City’s Business-Type Activities in a single column. These columns are followed by a Total column that presents the financial position of the entire City.

The City’s Governmental Activities include the activities of its General Fund, along with all its Special Revenue, Capital Projects, and Debt Service Funds. Since the City’s Internal Service Funds service these Funds, their activities are consolidated with Governmental Activities, after eliminating inter-fund transactions and balances. The City’s Business- Type Activities include all its Enterprise Fund activities and a portion of the Internal Services Funds.

The Statement of Activities reports increases and decreases in the City’s Net Position. It is also prepared on the full accrual basis, which means it includes all the City’s revenues and all its expenses, regardless of when cash changes hands. This differs from the “modified accrual” basis used in the governmental Fund financial statements, which reflect only current assets, current liabilities, measurable and available revenues, and expenditures.

The format of the Statement of Activities presents the City’s expenses first, listed by program, and follows these with the expenses of its business-type activities. Program revenues—that is, revenues which are generated directly by these programs—are then deducted from program expenses to arrive at the net expense of each governmental and business-type program. The City’s general revenues are then listed in the Governmental Activities or Business-type Activities column, as appropriate, and the Change in Net Position is computed and reconciled with the Statement of Net Position.

Both these Statements include the financial activities of the City as well as the Livermore Capital Projects Financing Authority, which is a legally separate but is a component unit of the City because it is controlled by the City, which is financially accountable for its activities.

These financial statements along with the fund financial statements and notes are called Basic Financial Statements.

EXHIBIT A
105
See Notes to Financial Statements
23 City of Livermore
Statement of Net Position
June 30, 2024
Governmental Business-Type
Activities Activities Total
ASSETS
Cash and investments in City Treasury (Note 3) 234,676,667$ 128,519,231$ 363,195,898$ Cash and investments with Trustees (Note 3) 24,566,464 - 24,566,464 Accounts receivables, net 12,777,260 6,534,208 19,311,468 Interest receivable 8,748,074 32,941 8,781,015 Lease receivables 500,220 11,622,452 12,122,672 Inventory 489,943 - 489,943
Internal balances (Note 4) 1,980,366 (1,980,366) - Prepaids, deposits and supplies 445,924 2,518,753 2,964,677 Notes receivable (Note 5) 43,047,473 - 43,047,473 Investment (Deficit) in JPA Equity (Note 14) (41,351,423) 25,281,621 (16,069,802) Land held for redevelopment (Note 1) 4,105,802 - 4,105,802 Land, easements and construction in progress (Note 7) 109,805,933 41,610,280 151,416,213 Capital assets, net of accumulated depreciation (Note 7) 288,775,710 117,448,105 406,223,815 Right-to-use subscription IT assets,
net of accumulated amortization (Note 7) 2,371,893 327,897 2,699,790 Total Assets 690,940,306 331,915,122 1,022,855,428

DEFERRED OUTFLOWS OF RESOURCES
Related to pension (Notes 11) 47,839,630 6,016,804 53,856,434 Related to OPEB (Notes 12) 4,871,642 822,518 5,694,160 Total Deferred Outflows of Resources 52,711,272 6,839,322 59,550,594

LIABILITIES
Accounts payable and other accruals 12,308,828 8,936,905 21,245,733 Accrued payroll 2,480,031 501,849 2,981,880
Interest payable 857,241 56,397 913,638
Deposit payable and unearned revenue 8,129,183 1,246,128 9,375,311 Non-current liabilities:

Due within one year:

Claims payable (Note 15) 2,916,000 - 2,916,000 Accrued compensated absences (Note 8) 1,566,599 235,250 1,801,849 Long-term debt (Note 8) 6,353,571 617,894 6,971,465 Due in more than one year:

Claims payable (Note 14B) 6,911,262 - 6,911,262 Accrued compensated absences (Note 8) 3,496,506 403,793 3,900,299 Long-term debt (Note 8) 80,860,390 6,086,766 86,947,156 Net pension liability (Note 11) 141,927,692 22,061,929 163,989,621 Net OPEB liabilities (Note 12) 25,918,432 4,376,004 30,294,436 Total Liabilities 293,725,735 44,522,915 338,248,650

DEFERRED INFLOWS OF RESOURCES
Related to pension (Notes 11) 2,905,739 95,175 3,000,914 Related to OPEB (Notes 12) 4,470,107 754,721 5,224,828 Related to leases (Notes 6) 460,820 11,053,697 11,514,517 Total Deferred Inflows of Resources 7,836,666 11,903,593 19,740,259 NET POSITION (Note 10)
Net investment in capital assets 313,739,575 153,013,844 466,753,419 Restricted:

Capital improvement programs 66,367,353 - 66,367,353 Landscape and Maintenance 16,457,692 - 16,457,692 Affordable Housing 61,151,599 - 61,151,599
Park fee 5,451,442 - 5,451,442
Art programs 1,267,790 - 1,267,790
Grant programs 5,662,461 - 5,662,461
Gas tax and other transportation programs 27,340,418 - 27,340,418 Community services 3,542,424 - 3,542,424
Unrestricted (58,891,579) 129,314,092 70,422,513 Total Net Position 442,089,175$ 282,327,936$ 724,417,111$

STATEMENT OF NET POSITION
JUNE 30, 2024

EXHIBIT A
106
See Notes to Financial Statements 24
City of Livermore
Statement of Activities
Year Ended June 30, 2024
Net (Expense) Revenue and
Program Revenues Changes in Net Position
Operating Capital
Charges for Grants and Grants and Governmental Business-type Functions/Programs Expenses Services Contributions Contributions Activities Activities Total Governmental Activities:

General Government 19,629,578$ 507,694$ 455,210$ -$ (18,666,674)$ -$ (18,666,674)$ Fire 28,701,042 1,328,778 - (27,372,264) - (27,372,264) Police 41,272,623 1,687,073 922,010 83,703 (38,579,837) - (38,579,837) Public Works 25,620,346 352,778 4,030,435 - (21,237,133) - (21,237,133) 33,484,650 12,406,533 6,696,534 9,907,268 (4,474,315) - (4,474,315) 3,219,699 - - - (3,219,699) - (3,219,699)
Library 8,758,604 9,327 119,111 - (8,630,166) - (8,630,166) Interest on long term debt 2,755,773 - - - (2,755,773) - (2,755,773) Total Governmental Activities 163,442,315 16,292,183 12,223,300 9,990,971 (124,935,861) - (124,935,861) Business-type Activities:

Airport 3,417,759 3,701,340 794,334 - - 1,077,915 1,077,915 Water 19,510,518 18,401,633 42,386 546,765 - (519,734) (519,734) Sewer 27,057,675 35,910,036 - 1,171,089 - 10,023,450 10,023,450 Stormwater 7,534,272 1,156,367 - 614,532 - (5,763,373) (5,763,373) Total Business-type Activities 57,520,224 59,169,376 836,720 2,332,386 - 4,818,258 4,818,258 Total primary government 220,962,539$ 75,461,559$ 13,060,020$ 12,323,357$ (124,935,861) 4,818,258 (120,117,603) General revenues:

Property taxes 46,585,299 - 46,585,299
Sales taxes 39,562,251 - 39,562,251
Business license taxes 15,148,648 - 15,148,648 Transient occupancy, franchise and other taxes 11,351,407 - 11,351,407 Intergovernmental, unrestricted 13,494,977 - 13,494,977 Investment income 11,527,765 5,857,983 17,385,748 Miscellaneous 6,150,811 - 6,150,811
Transfers, net (Notes 4 & 5) (3,470,000) 3,470,000 - Total general revenues and transfers 140,351,158 9,327,983 149,679,141 Change in Net Position 15,415,297 14,146,241 29,561,538 Net Position-Beginning, as previously reported 434,460,421 268,400,036 702,860,457 Restatement (Note 19) (7,786,543) (218,341) (8,004,884) Net Position-Beginning, as restated 426,673,878 268,181,695 694,855,573 Net Position-Ending 442,089,175$ 282,327,936$ 724,417,111$

STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2024
Community Development
Economic Development

EXHIBIT A
107
25 City of Livermore
Government Fund Statements
June 30, 2024
Fund Financial Statements
Only individual major funds are presented in the Fund Financial Statements, while non-major funds are combined in a single column. Major funds are defined generally as having significant activities or balances in the current year.

The City has identified the funds below as major governmental funds:

General Fund
The General Fund is used for all the general revenues of the City not specifically levied or collected for other City funds and related expenditures.

Low Income Housing Special Revenue Fund
Established to account for the receipt and disbursement of in-lieu low-income housing impact fees collected from developers.

EXHIBIT A
108
See Notes to Financial Statements 26
City of Livermore
Balance Sheet – Governmental Funds
June 30, 2024
Low Income Other Total
Housing Special Governmental Governmental
General Fund Revenue Fund Funds Funds
ASSETS
Cash and investments in City Treasury (Note 3) 84,630,776$ 8,248,260$ 116,946,205$ 209,825,241$ Cash and investments with Trustees (Note 3) - - 24,566,464 24,566,464 Accounts receivables, net 10,083,648 3,810 2,345,047 12,432,505 Lease receivables 500,220 - - 500,220
Interest receivable 2,369,024 3,310,080 3,068,970 8,748,074 Advances to other funds (Note 4) 3,586,595 - - 3,586,595 Prepaids and deposits 145,502 3,000 - 148,502
Notes receivable (Note 5) 64,369 33,733,505 9,249,599 43,047,473 Land held for redevelopment (Note 1) 1,704,483 2,401,319 - 4,105,802 Total Assets 103,084,617$ 47,699,974$ 156,176,285$ 306,960,876$

LIABILITIES
Accounts payable and other accrued liabilities 4,180,470$ 97,384$ 6,211,728$ 10,489,582$ Accrued payroll and benefits 2,202,450 - 104,621 2,307,071 Deposit payable 807,945 7,537 2,253,379 3,068,861
Advance from other funds (Note 4) 400,000 - 3,586,595 3,986,595 Unearned rents and revenue 2,982,519 - 1,917,350 4,899,869 Total Liabilities 10,573,384 104,921 14,073,673 24,751,978

DEFERRED INFLOWS OF RESOURCES
Unavailable revenue - 3,310,080 3,068,969 6,379,049 Deferred inflows of resources - leases 460,820 - - 460,820 Total deferred inflows of resources 460,820 3,310,080 3,068,969 6,839,869 FUND BALANCES (Note 10)
Nonspendable 5,540,349 3,000 - 5,543,349
Restricted - 44,281,973 136,580,157 180,862,130
Committed 20,682,015 - 2,907,557 23,589,572
Assigned 53,568,176 - - 53,568,176
Unassigned 12,259,873 - (454,071) 11,805,802
Total fund balances 92,050,413 44,284,973 139,033,643 275,369,029 Total Liabilities, deferred inflows of resources,
and fund balances 103,084,617$ 47,699,974$ 156,176,285$ 306,960,876$

GOVERNMENTAL FUNDS

BALANCE SHEET
JUNE 30, 2024

EXHIBIT A
109
See Notes to Financial Statements 27
City of Livermore
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position Year Ended June 30, 2024
Amounts reported for governmental activities in the statement of net position are different because:

Amount reported in the Governmental Balance Sheet as Fund Balance 275,369,029$

CAPITAL ASSETS
Capital assets used in Governmental Activities are not current assets or financial resources and therefore are not reported in the Governmental Funds. 378,297,032 Right-to-use subscription IT assets
Right-to-use subscription IT assets used in governmental activities are not financial resources and therefore are not reported as assets in Governmental Funds. 2,081,895

ALLOCATION OF INTERNAL SERVICE FUND NET POSITION
Internal service funds are not governmental funds. However, they are used by management to charge the costs of certain activities, such as insurance and central services and maintenance, to individual governmental funds. The assets and liabilities of the Internal Service Funds are therefore included in Governmental Activities in the following line items in the Statement of Net Postion.

Cash and investments 24,851,426
Accounts receivable 344,755
Inventory 489,943
Internal balances 2,380,366
Prepaids, deposits and supplies 297,422
Capital assets 20,574,609
Deferred pension outflows 2,162,261
Deferred outflow of resources related to OPEB 293,236
Accounts payable and other accruals (1,819,246)
Accrued payroll (172,960)
Interest payable (3,966)
Claims payable (9,827,262)
Deposit payable (160,453)
Subscription liability (255,053)
Net pension liability (7,928,402)
Net OPEB liabilities (1,560,111)
Long term debt (4,498,123)
Deferred inflow for resources related to pension (34,203) Deferred inflow for resources related to OPEB (269,069)

ACCRUAL OF NON-CURRENT REVENUES AND EXPENSES
Revenues which are reported as deferred inflows on the Fund Balance Sheets because they are not available currently are taken into revenue in the Statement of Activities. 6,379,049

LONG-TERM ASSETS AND LIABILITIES
The assets and liabilities below are not due and payable in the current period and therefore are not reported in the Funds:

Investment (Deficit) in JPA Equity (41,351,423)
Compensated absences (5,063,105)
Long-term debt (80,448,045)
Subscription liability (2,012,740)
Interest payable (853,275)
Net OPEB liabilities (24,358,321)
Deferred outflow of resources related to OPEB 4,578,406 Deferred inflow of resources related to OPEB (4,201,038) Net pension liability (133,999,290)
Deferred outflow of resources related to pension 45,677,369 Deferred inflow of resources related to pension (2,871,536) NET POSITION OF GOVERNMENTAL ACTIVITIES 442,089,177$

RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS

TO THE STATEMENT OF NET POSITION
JUNE 30, 2024

EXHIBIT A
110
See Notes to Financial Statements 28
City of Livermore
Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds Year Ended June 30, 2024
Low Income 2022 COPS Other Total
Housing-Special Construction Capital Governmental Governmental General Fund Revenue Fund Projects Fund Funds Funds

REVENUES
Property taxes and special assessments 46,585,299$ -$ 4,686,394$ 51,271,693$ Sales Taxes 39,562,251 - - 39,562,251
Other taxes 21,766,940 - - 21,766,940
Licenses and permits 3,361,835 - - 3,361,835
Intergovernmental 13,494,977 - 11,154,236 24,649,213 Fines and forfeitures 345,344 - - 345,344
Charges for current services 9,390,184 4,803,807 6,098,880 20,292,871 Use of money and property 10,395,458 584,309 4,139,995 15,119,762 Contributions from outside sources 72,038 715 1,501,732 1,574,485 Miscellaneous 565,502 546,118 4,845,096 5,956,716 Total Revenues 145,539,828 5,934,949 32,426,333 183,901,110

EXPENDITURES
Current:

General Government:

City Council 149,199 - - 149,199
City Manager 2,599,416 - 653,804 3,253,220
City Attorney 2,373,224 - - 2,373,224
Administrative Services 7,519,467 - - 7,519,467
General Services 3,331,579 - - 3,331,579
Fire 28,049,428 - 8,838 28,058,266
Police 43,538,187 - 1,328,862 44,867,049 Public Works 8,703,713 - 4,801,225 13,504,938 Community Development 16,832,592 1,192,923 9,205,429 27,230,944 Economic Development 2,686,915 - 40,529 2,727,444
Library 6,762,032 - 137,291 6,899,323
Capital Outlay:

Capital projects 321,392 - 20,793,286 21,114,678 Debt service:

Principal 763,280 - 3,974,418 4,737,698
Interest and fiscal charges 18,800 - 3,385,896 3,404,696 Total Expenditures 123,649,224 1,192,923 44,329,578 169,171,725

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 21,890,604 4,742,026 (11,903,245) 14,729,385

OTHER FINANCING SOURCES (USES)
Transfers in (Note 4) 737,455 - 7,564,997 8,302,452 Transfers (out) (Note 4) (14,507,398) (257,012) (989,042) (15,753,452) Total Other Financing Sources (Uses) (13,769,943) (257,012) 6,575,955 (7,451,000) Net Change in Fund Balance 8,120,661 4,485,014 (5,327,290) 7,278,385 FUND BALANCES- BEGINNING, as previously reported 83,929,752 44,457,151 34,108,216 110,274,773 272,769,892 Restatement (Note 19) - (4,657,192) (34,108,216) 34,086,160 (4,679,248) FUND BALANCES- BEGINNING, as restated 83,929,752 39,799,959 144,360,933 268,090,644 FUND BALANCES- ENDING 92,050,413$ 44,284,973$ -$ 139,033,643$ 275,369,029$

GOVERNMENTAL FUNDS

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 2024

EXHIBIT A
111
See Notes to Financial Statements 29
City of Livermore
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities
Year Ended June 30, 2024
NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS 7,278,385$ Amounts reported for governmental activities in the Statement of Activities are different because of the following:

CAPITAL ASSETS TRANSACTIONS
Governmental Funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is capitalized and allocated over their estimated useful lives and reported as depreciation expense.

The capital outlay asset addition expenditures are therefore added back to fund balance 21,114,678 Depreciation expense is deducted from the fund balance
(Depreciation expense is net of internal service fund depreciation of $2,004,933 which has already been allocated to internal service funds.) (12,189,300)

LONG TERM DEBT PROCEEDS AND PAYMENTS
Bond proceeds provide current financial resources to governmental funds, but issuing debt increases long-term liabilities in the Statement of Net Position. Repayment of bond principal is an expenditure in the governmental funds, but in the Statement of Net Position the repayment reduces long-term liabilities.

Premium on issuance recognized (16,632)
Repayment of debt principal is added back to fund balance 3,974,418 Payment of principal on Subscription-based IT arrangements 763,280 Amortization of premium on long-term debt 584,173

ACCRUAL OF NON-CURRENT ITEMS
The amounts below included in the Statement of Activities do not provide or (require) the use of current financial resources and therefore are not reported as revenue or expenditures in governmental funds (net change):

Long-term compensated absences (886,827)
Interest payable 81,384
Unavailable revenue (1,573,498)
Change in equity in JPA (374,675)
Governmental funds report City pension and OPEB contributions as expenditures. However in the Statement of Activities, the cost of pension and OPEB benefits earned net of employee contributions is reported as pension expense and OPEB expense.

Deferred outflow of resources related to pension (3,080,936) Deferred inflow of resources related to pension 3,150,275 Change in net pension liability (8,609,202)
Deferred outflow of resources related to OPEB (1,952,615) Deferred inflow of resources related to OPEB (3,435,568) Change in net OPEB liability 10,146,264

ALLOCATION OF INTERNAL SERVICE FUND ACTIVITY
Internal Service Funds are used by management to charge the costs of certain activities, such as equipment acquisition, maintenance, and insurance to individual funds. The portion of the net revenue (expense) of these Internal Service Funds arising out of their transactions with governmental funds is reported with governmental activities, because they service those activities.

Change in Net Position - All Internal Service Funds (1,072,378) Change in Net Position of Internal Service Funds reported with Business-Type Activities 1,514,071 CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES 15,415,297$

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN

FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2024
Amounts reported for governmental activities in the statement of activities are different because:

EXHIBIT A
112
30 City of Livermore
Proprietary Fund Financial Statements
June 30, 2024
Major Proprietary Funds
Proprietary funds account for City operations financed and operated in a manner similar to a private business enterprise. The intent of the City is that the cost of providing goods and services be financed primarily through user charges.

The City has identified the funds below as major proprietary funds in fiscal year 2023-24.

Airport Fund
Established to account for the operations of the Livermore Municipal Airport.

Water Fund
Established to account for the operations of the self-supporting municipal water service. Services are rendered on a user charge basis and impact fees are collected for future water storage needs.

Sewer Fund
Established to account for operations of the self-supporting wastewater disposal plant, the export pipeline, impact fees collected for sewer connections, and urban runoff fees.

Stormwater Fund
Established to account for operations of the self-supporting storm water operations and impact fees collected for storm drain infrastructure.

Internal Service Funds
Internal service funds, which are used to accumulate and allocate costs internally among the City’s various functions.

The City uses internal service funds to account for its fleet of vehicles, maintenance of buildings, risk management services, and information technology services. The internal service funds are combined into a single, aggregated presentation in the proprietary fund financial statements.

EXHIBIT A
113
See Notes to Financial Statements 31
City of Livermore
Statement of Net Position – Proprietary Funds
June 30, 2024
Governmental
Activities-
Internal Service
Airport Water Sewer Stormwater Totals Funds
ASSETS
Current Assets:

Cash and investments in City Treasury (Note 3) 8,868,452$ 37,419,069$ 74,337,848$ 7,893,862$ 128,519,231$ 24,851,426$ Accounts receivables (net of allowable for uncollectibles) 476,009 2,394,421 971,626 2,692,152 6,534,208 344,755 Lease receivables 11,426,773 195,679 - - 11,622,452 - Interest receivables 32,491 450 - - 32,941 -
Advances from other funds (Note 4) - - 400,000 400,000 - Inventory - - - - - 489,943
Prepaids, deposits and supplies - - 2,518,753 - 2,518,753 297,422 Total current assets 20,803,725 40,009,619 78,228,227 10,586,014 149,627,585 25,983,546 Noncurrent Assets:

Investment in JPA-LAVWMA (Note 14) - - 25,281,621 - 25,281,621 - Land and construction in progress (Note 7) 13,096,469 536,440 26,757,786 1,219,585 41,610,280 4,171,714 Capital assets, net of accumulated depreciation (Note 7) 7,850,166 30,248,742 60,026,434 19,322,763 117,448,105 16,112,897 Right-to-use subscription IT assets,
net of accumulated amortization (Note 7) - 54,649 249,826 23,422 327,897 289,998 Total noncurrent assets 20,946,635 30,839,831 112,315,667 20,565,770 184,667,903 20,574,609 Total assets 41,750,360 70,849,450 190,543,894 31,151,784 334,295,488 46,558,155

DEFERRED OUTFLOWS OF RESOURCES
Related to pension (Note 11) 586,639 1,404,956 3,600,016 425,193 6,016,804 2,162,261 Related to OPEB (Note 12) 96,618 150,727 550,944 24,229 822,518 293,236 Total deferred outflows of resources 683,257 1,555,683 4,150,960 449,422 6,839,322 2,455,497

LIABILITIES
Current Liabilities:

Accounts payable and other accruals 179,407 2,205,106 6,308,413 243,979 8,936,905 1,819,246 Accrued payroll and benefits 46,332 115,719 303,886 35,912 501,849 172,960 Interest payable 32,199 21,575 2,398 225 56,397 3,966
Accrued compensated absences (Note 8) 25,655 46,975 149,602 13,018 235,250 - Claims payable (Note 15) - - - - - 2,916,000
Deposit payable 238,376 92,473 915,279 - 1,246,128 160,453 Long-term debt (Note 8):

Due within one year 258,082 312,528 - - 570,610 921,084 Total current liabilities 780,051 2,794,376 7,679,578 293,134 11,547,139 5,993,709 Noncurrent Liabilities:

Accrued compensated absences (Note 8) 65,028 61,547 255,170 22,048 403,793 - Claims payable (Note 15) - - - - - 6,911,262
Subscription liability - 55,370 253,122 23,730 332,222 255,053 Net pension liability (Note 11) 2,151,042 5,151,578 13,200,246 1,559,063 22,061,929 7,928,402 Net OPEB liabilities (Note 12) 514,041 801,901 2,931,162 128,900 4,376,004 1,560,111 Long-term debt (Note 8):

Due in more than one year 3,681,164 2,120,664 - - 5,801,828 3,577,039 Total non-current liabilities 6,411,275 8,191,060 16,639,700 1,733,741 32,975,776 20,231,867 Total liabilities 7,191,326 10,985,436 24,319,278 2,026,875 44,522,915 26,225,576

DEFERRED INFLOWS OF RESOURCES
Related to pension (Note 11) 9,280 22,224 56,945 6,726 95,175 34,203 Related to OPEB (Note 12) 88,656 138,302 505,532 22,231 754,721 269,069 Related to leases (Note 6) 10,874,871 178,826 - - 11,053,697 - Total deferred inflows of resources 10,972,807 339,352 562,477 28,957 11,903,593 303,272 NET POSITION (Note 10)
Net investment in capital assets 17,007,389 28,406,639 87,034,046 20,565,770 153,013,844 16,076,486 Unrestricted 7,262,095 32,673,706 82,779,053 8,979,604 131,694,458 6,408,318 Total net position 24,269,484$ 61,080,345$ 169,813,099$ 29,545,374$ 284,708,302 22,484,804$ Some amounts reported for business-type activities in the Statement of Net Position are different because certain internal service fund assets and liabilities are included with business-type activities. (2,380,366) Net position business-type activities 282,327,936$
Business-Type Activities-Enterprise Funds

PROPRIETARY FUNDS

STATEMENT OF NET POSITION
JUNE 30, 2024

EXHIBIT A
114
See Notes to Financial Statements 32
City of Livermore
Statement of Revenues, Expenses, and Changes in Fund Net Position – Proprietary Funds Year Ended June 30, 2024
Governmental
Activities-
Internal Service
Airport Water Sewer Stormwater Totals Funds

OPERATING REVENUES
Charges for services 3,304,896$ -$ 30,971,138$ 1,156,297$ 35,432,331$ 15,382,645$ Sales 381,462 18,382,595 - - 18,764,057 - Miscellaneous 14,982 19,038 43,764 70 77,854 618,450
Total Operating Revenues 3,701,340 18,401,633 31,014,902 1,156,367 54,274,242 16,001,095

OPERATING EXPENSES
Cost of sales, salaries and benefits 1,954,655 15,480,602 11,200,355 4,211,899 32,847,511 4,477,801 Contracted services 248,857 372,048 5,392,635 729,037 6,742,577 3,859,236 Insurance premiums 84,910 368,259 881,429 117,538 1,452,136 6,357,119 Materials, supplies and other 69,855 175,206 1,691,654 81,103 2,017,818 1,114,370 Utilities 274,010 469,766 1,549,716 15,328 2,308,820 873,930 Depreciation and amortization 329,642 1,742,657 4,011,776 1,924,884 8,008,959 2,004,933 Repairs and maintenance 265,111 317,055 1,617,525 282,212 2,481,903 2,338,583 Total Operating Expenses 3,227,040 18,925,593 26,345,090 7,362,001 55,859,724 21,025,972 Operating Income (Loss) 474,300 (523,960) 4,669,812 (6,205,634) (1,585,482) (5,024,877)

NONOPERATING REVENUES (EXPENSES)
Investment income 672,840 1,542,952 3,335,826 306,365 5,857,983 - Interest and fiscal charges (expense) (96,283) (41,578) (7,834) (734) (146,429) (136,265) Change of value from investment in JPA - LAVWMA - - 4,895,134 - 4,895,134 - Other nonoperating revenues 794,334 42,386 - - 836,720 35,825 Gain (loss) on disposal of surplus property - - - - - 71,939 Net Nonoperating Revenues (Expenses) 1,370,891 1,543,760 8,223,126 305,631 11,443,408 (28,501) Income (Loss) Before Contributed Assets
and Transfers 1,845,191 1,019,800 12,892,938 (5,900,003) 9,857,926 (5,053,378) Capital contributions - 333,689 190,433 263,000 787,122 - Capital contributions - Connection fees - 213,076 980,656 296,152 1,489,884 - Capital Grants - - - 55,380 55,380 -
Transfers in (Note 4) - - - 3,470,000 3,470,000 3,981,000 Transfers out (Note 4) - - - - - -
Change in net position 1,845,191 1,566,565 14,064,027 (1,815,471) 15,660,312 (1,072,378) Total net position (deficit)-beginning, as previously reported 22,449,941 59,553,791 155,895,322 31,367,277 23,635,024 Restatement (Note 19) (25,648) (40,011) (146,250) (6,432) (77,842) Total net position -beginning, as restated 22,424,293 59,513,780 155,749,072 31,360,845 23,557,182 Total net position-ending 24,269,484$ 61,080,345$ 169,813,099$ 29,545,374$ 22,484,804$ Some amounts reported for business-type activities in the Statement of Activities are different because the portion of the net income of certain internal service funds is reported with the business-type activities (1,514,071) Net business-type activities reported on the Statement of Activities 14,146,241$

PROPRIETARY FUNDS

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR THE YEAR ENDED JUNE 30, 2024
Business-Type Activities-Enterprise Funds

EXHIBIT A
115
See Notes to Financial Statements 33
City of Livermore
Statement of Cash Flows – Proprietary Funds
Year Ended June 30, 2024
Governmental
Activities-
Internal Service
Airport Water Sewer Stormwater Totals Funds

CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers 4,252,685$ 18,334,243$ 31,649,314$ 1,344,162$ 55,580,404$ 15,999,218$ Payments to suppliers (2,772,825) (17,121,065) (19,684,089) (5,441,766) (45,019,745) (8,563,299) Payments to employees (650,626) (15,016) 52,711 100,681 (512,250) (5,037,248) Claims paid (84,910) (368,259) (881,429) (117,538) (1,452,136) (5,813,178) Receipts from other sources 14,982 19,038 43,764 70 77,854 - Net cash provided by (used for) operating activities 759,306 848,941 11,180,271 (4,114,391) 8,674,127 (3,414,507)

CASH FLOWS FROM NONCAPITAL

FINANCING ACTIVITIES
Cash received from other funds - - - 3,470,000 3,470,000 3,981,000 Cash transferred to other funds - - (400,000) - (400,000) - Net cash provided by noncapital financing activities - - (400,000) 3,470,000 3,070,000 3,981,000

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Capital Grants - - - 55,380 55,380 -
Proceeds from sale of capital assets - - - - - 71,939
Capital contributions 39,365 546,765 1,171,088 559,152 2,316,370 - Capital asset additions - (480,315) (19,905,091) (575,093) (20,960,499) (4,549,257) Long term debt:

Repayment of principal (209,640) (255,333) - - (464,973) (771,577) Interest paid (137,373) (91,089) (320) (30) (228,812) (138,286) Net cash provided by (used for) capital and related
financing activities (307,648) (279,972) (18,734,323) 39,409 (19,282,534) (5,387,181)

CASH FLOWS FROM INVESTING ACTIVITIES
Investment Income (losses) 1,468,328 1,585,419 3,327,992 305,631 6,687,370 35,825 Net cash provided by (used for) investing activities 1,468,328 1,585,419 3,327,992 305,631 6,687,370 35,825 Net increase (decrease) in cash and cash equivalents 1,919,986 2,154,388 (4,626,060) (299,351) (851,037) (4,784,863) Cash and investments at beginning of period 6,948,466 35,264,681 78,963,908 8,193,213 129,370,268 29,636,289 Cash and investments at end of period 8,868,452$ 37,419,069$ 74,337,848$ 7,893,862$ 128,519,231$ 24,851,426$ Reconciliation of operating income (loss) to net cash
provided by operating activities:

Operating income (loss) 474,300$ (523,960)$ 4,669,812$ (6,205,634)$ (1,585,482)$ (5,024,877)$ Adjustments to reconcile operating income (loss) to net cash provided by operating activities:

Depreciation and amortization 329,642 1,742,657 4,011,776 1,924,884 8,008,959 2,004,933 Pension and OPEB Expense (669,718) 27,050 (49,863) 112,887 (579,644) (412,864) Change in assets and liabilities:

Accounts receivable 563,751 (28,887) (87,927) 187,865 634,802 (123,852) Prepaids, deposits and supplies - - (2,518,753) - (2,518,753) (199,884) Accounts payable and other accruals 39,663 (298,993) 4,320,355 (122,187) 3,938,838 305,486 Accrued payroll (2,673) 19,390 58,488 8,239 83,444 5,192 Accrued compensated absences 21,765 (61,456) 44,086 (17,276) (12,881) - Subscription liability - (7,395) (33,806) (3,169) (44,370) (167,706) Deposits payable 2,576 (19,465) 766,103 - 749,214 -
Claims Payable - - - - - 199,065
Net Cash provided by (Used for) operating activities 759,306$ 848,941$ 11,180,271$ (4,114,391)$ 8,674,127$ (3,414,507)$ Non-cash transactions:

Investment in LAVWMA JPA equity -$ -$ 4,895,134$ -$ 4,895,134$ -$ Loss on disposal of capital assets (2,000) - - - (2,000) - Amortization of premium (39,330) (46,888) - - (86,218) - Capital assets contributed - 333,689 190,433 263,000 787,122 -

PROPRIETARY FUNDS

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2024
Business-Type Activities-Enterprise Funds

EXHIBIT A
116
34 City of Livermore
Fiduciary Fund Financial Statements
June 30, 2024
Fiduciary Funds
Fiduciary funds account for assets held by the City acting as an agent for various functions. The City has the following fiduciary funds:

Successor Agency to the Livermore Redevelopment Agency Private Purpose Trust Fund Established for the assets received from the City’s former redevelopment agency in order to liquidate its enforceable obligations, pursuant to Assembly Bill X1 26 which dissolved redevelopment agencies in California.

Custodial Funds
Established to account for assets held by the City in a fiduciary capacity for special assessment districts, Livermore Pleasanton Fire Department, and agency pass through fees.

EXHIBIT A
117
See Notes to Financial Statements 35
City of Livermore
Statement of Fiduciary Net Position – Fiduciary Funds
June 30, 2024
Successor Agency
to the Livermore
Redevelopment
Agency
Private-Purpose Custodial
Trust Fund Funds
ASSETS
Cash and investments in City Treasury (Note 3) 3,942,318$ 16,024,955$ Cash and investments with Trustees (Note 3) 2,050 2,365,844 Accounts receivable - 83,803
Total Assets 3,944,368 18,474,602

LIABILITIES
Accrued liabilities - 4,207,065
Accrued interest 216,237 -
Deposits payable - 5,733,426
Long-term debt (Note 18):

Due within one year 1,642,489 -
Due in more than one year 13,307,790 -
Total Liabilities 15,166,516 9,940,491

NET POSITION
Restricted for other organizations and governments (11,222,148)$ 8,534,111$

FIDUCIARY FUNDS

STATEMENT OF NET POSITION
June 30, 2024

EXHIBIT A
118
See Notes to Financial Statements 36
City of Livermore
Statement of Changes in Net Position – Fiduciary Funds
Year Ended June 30, 2024
Successor Agency
to the
Redevelopment
Agency
Private-Purpose Custodial
Trust Fund Funds

ADDITIONS
Property taxes and special assessment 2,203,569$ -$
Investment income 2,045 -
Charges for services - 53,195,490
Total Additions 2,205,614 53,195,490

DEDUCTIONS
Recipient Payments 3,000 51,664,666
Debt service:

Interest and fiscal charges 432,668 -
Total Deductions 435,668 51,664,666
Net Change in Net Position 1,769,946 1,530,824

NET POSITION
Beginning of year (12,992,094) 7,003,287
End of year (11,222,148)$ 8,534,111$

FIDUCIARY FUNDS

STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FOR THE YEAR ENDED ON JUNE 30, 2024

EXHIBIT A
119
37 City of Livermore
Notes to Financial Statements
June 30, 2024
Note 1 - Significant Accounting Policies
The City of Livermore was incorporated on April 1, 1876. The City operates under the Council-Manager form of government and provides the following services: public safety (police and fire), highways and streets, sewer, water, public improvements, planning and zoning, general administration services and housing services.

The accounting policies of the City conform with generally accepted accounting principles in the United States of America as applicable to governments. The following is a summary of these policies:

Reporting Entity
The accompanying basic financial statements present the financial activity of the City, which is the primary government presented, along with the financial activities of its component units, which are entities for which the City is financially accountable. Although they are separate legal entities, blended component units are in substance part of the City’s operations and are reported as an integral part of the City’s financial statements. The City’s blended component unit is described below.

Component Units Included in the Reporting Entity
The Livermore Capital Projects Financing Authority (LCPFA) provides financing assistance to the City. The Authority is controlled by the City and has the same governing body as the City, which also performs all accounting and administrative functions for the Authority. Separate financial statements are not issued for the LCPFA.

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 Governmental Accounting Standards Board is the acknowledged standard setting body for establishing accounting and financial reporting standards followed by governmental entities in the United States of America.

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 units. 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. These statements distinguish between the governmental and business-type activities of the City. Governmental activities generally are financed through taxes, intergovernmental revenues, and other non-exchange transactions. Business-type activities are financed in whole or in part by fees charged to external parties.

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. Certain indirect costs are included in program expenses reported for individual functions and activities.

EXHIBIT A
120
38 City of Livermore
Notes to Financial Statements
June 30, 2024
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's funds, 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 non-major funds.

Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from exchange transactions associated with a proprietary fund’s principal ongoing operations. Exchange transactions are those in which each party receives and gives up essentially equal values. The principal operating revenues of the City’s enterprise funds, 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 of capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses. Non-operating revenues, such as subsidies and investment earnings, result from non-exchange transactions or ancillary activities.

Major Funds
The City’s 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.

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. 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 – The general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund.

Low Income Housing Special Revenue Fund – Established to account for the receipt and disbursement of in-lieu low- income housing impact fees collected from developers.

The City reported the following business-type funds as major funds in the accompanying financial statements.

Airport Fund – Established to account for the operations of the Livermore Municipal Airport.

EXHIBIT A
121
39 City of Livermore
Notes to Financial Statements
June 30, 2024
Water Fund – Established to account for the operations of the municipal water service. Services are rendered on a user charge basis and impact fees are collected for future water storage needs.

Sewer Fund – Established to account for operations of the wastewater disposal plant, the export pipeline, impact fees collected for sewer connections, and urban runoff fees.

Stormwater Fund – Established to account for operations of the storm water operations and impact fees collected for storm drain infrastructure.

The City also reports the following fund types:

Internal Service Funds – These funds are used to account for the financing of services and supplies provided by one City department to another on a cost-reimbursement basis. The City operates the Liability Insurance Reserve Fund, Workers Compensation Fund, Fleet and Equipment Services Fund, Information Technology Fund, and Facilities Rehabilitation Projects Fund.

Fiduciary Funds – These funds are used to account for assets held by the City as an agent for various functions. The financial activities of these funds are excluded from the City-wide financial statements but are presented in separate Fiduciary Fund financial statements. The City has the following three types of fiduciary funds:

Successor Agency to the Livermore Redevelopment Agency Private Purpose Trust Fund – Established for the assets received from the City’s former redevelopment agency in order to liquidate its enforceable obligations, pursuant to Assembly Bill X1 26 which dissolved redevelopment agencies in California as of January 31, 2012.

Funds received from the county to pay off enforceable obligations are held in this fund.

Custodial Funds – Established to account for assets held by the City in a purely custodial capacity. Custodial funds typically involve only the receipt, temporary investment, and remittance of fiduciary resources to individuals, private organizations, or other governments. Custodial Funds account for activities carried out exclusively for the benefit of that outside of the City but not administered through other fiduciary trusts or equivalent arrangements such as assessments for payments of certain conduit debt and other custodial activities as well as custodial activities related to the Livermore Pleasanton Fire District, JPA.

Basis of Accounting and Measurement Focus
The accounting and financial reporting treatment is determined by the applicable measurement focus and basis of accounting. Measurement focus indicates the type of resources being measured such as current financial resources or economic resources. The basis of accounting indicates the timing of transactions or events for recognition in the financial statements.

EXHIBIT A
122
40 City of Livermore
Notes to Financial Statements
June 30, 2024
The government-wide 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. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

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. Measurable means the amount of the transaction can be determined and available means the amount is collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. The City’s accrual period is sixty days after year end. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability has incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, pension and other postemployment benefits liabilities, and claims and judgments, are recorded only when payment is due. Thus, such amounts are not current liabilities as their settlement will not require expenditures of existing fund assets.

Financial resources usually are appropriated in other funds for transfer to a debt service fund in the period in which maturing debt principal and interest must be paid. General capital asset acquisitions are reported as expenditures in governmental funds. Issuance of long-term debt and acquisitions under financed purchases are reported as other financing sources.

Property taxes, sales taxes, franchise taxes, licenses, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period.

Entitlements are recorded as revenues when all eligibility requirements are met, including any time requirements, and the amount is received during the period or within the availability period for this revenue source. Expenditure-driven grants are recognized as revenue when the qualifying expenditures have been incurred and all other eligibility requirements have been met, and the amount is received during the period or within the availability period for this revenue source. All other revenue items including fines, license, and permits are considered to be measurable and available only when cash is received by the government.

The proprietary and fiduciary funds are reported using the economic resources measurement focus and accrual basis of accounting.

Cash and Investments
The City pools its available cash for investment purposes. The City’s cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturity of three months or less from date of acquisition. Cash and cash equivalents are combined with investments and displayed as Cash and Investments.

In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools, highly liquid market investments with maturities of one year or less at time of purchase are stated at amortized cost. All other investments are stated at fair value. The City participates in the Local Agency Investment Fund (LAIF), an investment pool managed by the State of California which invests a portion of the pooled funds in Structured Notes and Asset-backed Securities. LAIF’s investments are subject to credit risk with the full faith and credit of the State of California collateralizing these investments.

EXHIBIT A
123
41 City of Livermore
Notes to Financial Statements
June 30, 2024
In addition, these Structured Notes and Asset-backed Securities are subject to market risk due to change in interest rates. For purposes of the statement of cash flows of the proprietary funds types, cash and cash equivalents include all investments, as the City operates an internal cash management pool which maintains the general characteristics of a demand deposit account.

Restricted Cash and Investments
Restricted cash and investments include amounts held by fiscal agents for the redemption of bonded debt and for acquisition and construction of capital projects, for deposits held for others within the enterprise funds, and for amounts held in an irrevocable trust for pension activities.

Inventories and Prepaid items
Inventories are valued at cost on an average cost basis and consist of expendable supplies, fuel, and vehicle repair parts. The cost of such inventories is recorded as expenditures/expenses when consumed rather than when purchased.

Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both the government-wide and fund financial statements. The cost of prepaid items is recorded as expenditures/expenses when consumed rather than when purchased.

Receivables
During the course of normal operations, the City carries various receivable balances that are shown net of allowances for doubtful accounts for taxes, interest, services, utilities and special assessments.

Notes Receivable
For the purposes of the governmental fund financial statements, expenditures related to long-term notes arising from subsidy programs are charges to operations upon funding and the notes are recorded with an offset to an unavailable revenue account under the deferred inflows of resources section. For the purposes of the government- wide financial statements, long-term loans are not offset by unavailable revenue accounts.

Leases and Subscription Based Information Technology Arrangements (SBITA) The City is a lessor for a noncancellable lease of a buildings, land and cell tower. The City recognizes a lease receivable and a deferred inflow of resources in the government‐wide and governmental and proprietary fund financial statements.

At the commencement of a lease, the City initially measures the lease receivable at the present value of payments expected to be received during the lease term. Subsequently, the lease receivable is reduced by the principal portion of lease payments received. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date.

Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease term.

EXHIBIT A
124
42 City of Livermore
Notes to Financial Statements
June 30, 2024
Key estimates and judgments include how the City determines (1) the discount rate it uses to discount the expected lease receipts to present value, (2) lease term, and (3) lease receipts. • The City uses its estimated incremental borrowing rate as the discount rate for leases. • The lease term includes the noncancellable period of the lease. Lease receipts included in the measurement of the lease receivable is composed of fixed payments from the lessee.

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

The City has several leasing arrangements accounted for under GASB No. 96, Subscriptions Based Information Technology Arrangements. At the commencement of a subscription based information technology arrangement (SBITA), the City initially measures the subscription liability at the present value of payments expected to be made during the subscription term. Subsequently, the lease liability is reduced by the principal portion of subscription payments made. The subscription asset is initially measured as the initial amount of the subscription liability, adjusted for subscription payments made at or before the subscription commencement date, plus certain initial direct costs. Subsequently, the subscription asset is amortized on a straight‐line basis over its useful life.

Key estimates and judgments include how the Town determines (1) the discount rate it uses to discount the expected subscription payments to present value, (2) subscription term, and (3) lease receipts. Lease receipts included in the measurement of the lease receivable is composed of fixed payments from the lessee. The City monitors changes in circumstances that would require a remeasurement of its subscription and will remeasure the subscription if certain changes occur that are expected to significantly affect the amount of the subscription.

Subscription assets are reported with other capital assets and subscription liabilities are reported with long-term debt on the statement of net position.

Deferred Outflows of Resources and Deferred 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 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 or governmental fund balance sheet 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.

Pensions and Other Postemployment Benefits
For purposes of measuring the net pension and OPEB liabilities and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City of Livermore’s California Public Employees’ Retirement System (CalPERS) pension and Public Agency Retirement System (PARS) plans (Plans) and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by CalPERS and PARS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms.

EXHIBIT A
125
43 City of Livermore
Notes to Financial Statements
June 30, 2024
Property Tax Levy, Collection and Maximum Rates
The State of California Constitution Article XIII(A) provides that the combined maximum property tax rate on any given property may not exceed one percent of its assessed value unless an additional amount for general obligation debt has been approved by voters. Assessed value is calculated at 100 percent of market value as defined by Article XIII(A), generally equivalent to the latest sale price, and may be increased by no more than two percent per year unless the property is sold or transferred. Assessed values may be reduced because of taxpayer-initiated re-assessments or declining sales prices. The State Legislature has determined the method of distribution of receipts from this tax levy among the counties, cities, school districts and other districts.

Secured property tax is due in two installments, on November 1 and February 1, and becomes a lien on those dates. It becomes delinquent on December 10 and April 10, respectively. Unsecured property tax is due on July 1 and become delinquent on August 31.

The term "unsecured" refers to taxes on personal property other than real estate, land, and buildings, such as airplanes, boats, etc. These taxes are secured by liens on the property being taxed.

Revenue Recognition for Water and Sewer Operations
Revenues from residential sewer customers are based on annual billings collected on the tax rolls by Alameda County.

Revenues for sewer services provided but not billed at the end of the fiscal year are estimated and accrued.

Land Held for Redevelopment
Land held for redevelopment includes land parcels used to develop or redevelop blighted properties and are accounted for as investments on the balance sheet at the lower of cost or net realizable value or agreed-upon sales price if a disposition agreement has been made with a developer. Individual parcels which have experienced a market value decline are written down to estimated current market value. No appreciation is recorded if the current market value of an individual parcel exceeds cost.

Use of Estimates
The preparation of 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.

Adoption of New Accounting Pronouncements
Implementation of GASB Statement No. 100
As of July 1, 2024, the District adopted GASB Statement No. 100, Accounting Changes and Error Corrections. The implementation of this standard requires additional presentation and disclosure requirements for accounting changes and error corrections. The financial statements have been updated to conform to the presentation requirements related to the accounting change in the financial statements for the year ended June 30, 2024. The additional disclosures required by this standard are included in Note 19.

EXHIBIT A
126
44 City of Livermore
Notes to Financial Statements
June 30, 2024
Note 2 - Stewardship, Compliance and Accountability
Budgeting Procedures
The City adopts a biennial operating budget on or before June 30 for each of the ensuing two fiscal years for all funds except the Fiduciary Funds. The operating budget takes the form of a two-year financial plan which is adopted in its entirety by the City Council by a resolution. A mid-period review is conducted in the off-year and appropriations are adjusted accordingly. The fiscal year begins on July 1 and ends on June 30 of the following year.

As Livermore is a general law city, it is not subject to a budgetary process prescribed by statute or charter.

The operating budget is subject to supplemental appropriations throughout its term to provide flexibility to meet changing needs and conditions. A resolution approving a supplemental appropriation is necessary when the original total appropriations for that fund would be exceeded. Similarly, supplemental appropriations and budget transfers between funds and projects need approval from the City Council. Budget adjustments within the same fund may be approved by the City Manager if the total appropriation does not exceed the total approved limit for that fund. All appropriations and encumbrances lapse at year-end. Valid outstanding encumbrances (those for which performance under executory contract is expected in the next fiscal year) are re-appropriated and become part of the subsequent year’s budget.

The operating budget is on a program basis; however, the legal level of budgetary control is at the fund level. For governmental funds, the budget is prepared on a modified accrual basis consistent with generally accepted accounting principles (GAAP), except that land held for redevelopment is treated as an expenditure when purchased, proceeds from the disposition of this land is treated as revenue when measurable and available, and transfers (to) or from different fund categories are treated as budgetary resources (uses). Organizational priorities which have been developed by City Council and City staff are implemented at the program level.

EXHIBIT A
127
45 City of Livermore
Notes to Financial Statements
June 30, 2024
Fund Balance Deficits / Net Position Deficits
As of June 30, 2024, none of the funds had a significant fund balance/net position deficit.

Note 3 - Cash and Investments
The City pools cash from all sources and all funds, except Cash and Investments held by Trustees, so that it can be invested at the maximum yield consistent with safety and liquidity, while individual funds can make expenditures at any time.

Policies
California Law requires banks and savings and loan institutions to pledge government securities with a market value of 110% of the City’s cash on deposit, or first trust deed mortgage notes with a market value of 150% of the deposit, as collateral for these deposits. Under California Law this collateral is held in a separate investment pool by another institution in the City’s name and the City is placed ahead of general creditors of the institution.

The City invests in individual investments and in investment pools. Individual investments are evidenced by specific identifiable securities instruments, or by an electronic entry registering the owner in the records of the institution issuing the security, called the book entry system. In order to increase security, the City employs the Trust Department of a bank as the custodian of certain City managed investments, regardless of their form.

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.

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 or Agency agreements.

Cash and investments in City Treasury 363,195,898$
Cash and investments with Trustees 24,566,464
Total City cash and investments 387,762,362
Cash and investments in Fiduciary Funds (Separate Statement) In City Treasury 19,967,273
With Trustees 2,367,894
Total Fiduciary cash and investments 22,335,167
Total cash and investments 410,097,529$
Cash and investments available for operations is 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.

EXHIBIT A
128
46 City of Livermore
Notes to Financial Statements
June 30, 2024
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 Investment types, provided the credit ratings of the issuers are acceptable to the City and the 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 the City’s Investment Policy is more restrictive.

Authorized Investment Type Maximum Maturity
Minimum Credit
Quality
Maximum
Percentage of
Portfolio
Maximum
Investment in One
Issuer
California Local Agency Bonds* 5 years A None None
U.S. Treasury Bills and Notes 5 years N/A None None Obligations issued by United States
Government Agencies
5 years N/A None None
Bankers Acceptances 180 days A 40% 30%
Commercial Paper 270 days A1/P1 10% 10%
Negotiable Certificates of Deposit 5 years None 30% None Repurchase Agreements 1 year None 20% None
Reverse Repurchase Agreements 92 days None 20% None
Medium Term Corporate Notes 5 years A 30% None
Money Market Mutual Funds 5 years Top rating category 15% 10% Collateralized Notes, Bonds, or Other
Obligations Secured by First Priority Security
Interest
5 years N/A None None
Certificates of Deposit 5 years N/A 30% None
California Local Agency Investment Fund 5 years N/A $75 million per $75 million per Passbook Savings Account N/A N/A N/A N/A
Supranationals 5 Years AA 30% None
* No Maximum Maturity or minimum rating on Bonds issued by the City of Livermore.

Under the City’s Investment Policy, investments not described above are ineligible investments. In addition, the City may not invest any funds in inverse floaters, range notes, or interest only strips that are derived from a pool of mortgages in accordance with the California Government Code. Except for callable federal agency securities, any security that derives its value from another asset or index is prohibited. In addition, the City may not invest any funds in any security that could result in zero interest accrual if held to maturity.

Investments Authorized by Debt and Trust Agreements
The City and the Successor Agency to the former Redevelopment Agency 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 and/or the Successor Agency fail to meet their obligations under these debt issues. The California Government Code requires these funds to be invested in accordance with the City resolutions, bond indentures or State statutes.

EXHIBIT A
129
47 City of Livermore
Notes to Financial Statements
June 30, 2024
The table below identifies the investment types that are authorized for investments held by fiscal agents.

Authorized Investment Type Maximum Maturity Minimum Credit Quality Maximum %
Allowed
U.S. Treasury Bills and Notes No Limit NA No Limit
Federal and Local Agency Obligations No Limit NA No Limit Federal funds, unsecured certificates of deposit,
time deposits & bankers acceptances Not more than 360 days A-1 or A-1+ by S&P and P-1 by Moody No Limit Commercial Paper Not more than 270 days A-1+ by S&P and P-1 by Moody No Limit Money Market Mutual Funds No Limit AAAm or AAAm-G or better by S&P No Limit Municipal Bonds No Limit Aaa or AAA or general obligations of states with a rating of A2/A or high by Moody, S&P, or Fitch No Limit California Local Agency Investment Fund (LAIF) NA NA $75 million per account
Repurchase Agreements 6 mo. or less Equal to or better than existing Certificates by Moody’s No Limit
Investment Agreements No Limit Equal to or better than existing Certificates by Moody’s No Limit
Pre-refunded municipal obligations No Limit Aaa by Moody’s & AAA by S&P; if no Moody’s rating, then must have been pre-refunded with cash. No Limit
Interest Rate Risk
Interest rate risk represents how changes in market interest rates will adversely affect the fair value of an investment. Normally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. The City generally manages its interest rate risk by holding investments to maturity.

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:
12 Months 13 to 24 25 to 60 More than
Investment Type or less Months Months 60 Months Total
U.S. Agencies Bond 55,757,361$ 39,760,267$ 93,644,021$ -$ 189,161,649$ California Local Agency Investment Fund 36,000,332 - - - 36,000,332 Money Market Fund 2,058,975 - - - 2,058,975
Supranational - - 15,744,356 - 15,744,356
U.S. Treasury Bond - - 46,855,217 - 46,855,217
Negotiable Certificates of Deposit 7,453,258 934,337 1,381,235 - 9,768,830 Commercial Paper 3,629,552 12,781,279 - - 16,410,831 Corporate Notes 4,759,260 7,580,295 - 24,846,037 37,185,592 Mortgage-backed Security - 2,756,073 7,892,617 - 10,648,690 Municipal Bonds 246,280 - 3,246,579 1,654,667 5,147,526 Total Investments 109,905,018$ 63,812,251$ 168,764,025$ 26,500,704$ 368,981,998 Cash Equivalent 41,115,531
Total Cash and Investments 410,097,529$

EXHIBIT A
130
48 City of Livermore
Notes to Financial Statements
June 30, 2024
Credit Risk
Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the actual rating as of June 30, 2024 for each investment type as provided by Standard and Poor’s investment rating service.

Investment Type AAA AA A BBB Not Rated Total
U.S. Agencies Bond -$ 189,161,649$ -$ -$ -$ 189,161,649$ California Local Agency Investment Fund - - - - 36,000,332 36,000,332 Money Market Fund - - - - 2,058,975 2,058,975
Supranational - 15,744,356 - - - 15,744,356
U.S. Treasury Bond - 46,855,217 - - - 46,855,217
Negotiable Certificates of Deposit - - - - 9,768,830 9,768,830 Commercial Paper - - 16,410,831 - - 16,410,831
Corporate Notes 5,302,185 16,819,240 15,064,167 - - 37,185,592 Mortgage-backed Security - 10,648,690 - - - 10,648,690
Municipal Bonds - 5,147,526 - - - 5,147,526
Total Investments 5,302,185$ 284,376,678$ 31,474,998$ -$ 47,828,137$ 368,981,998 Cash Equivalent 41,115,531
Total Cash and Investments 410,097,529$
Local Agency Investment Fund
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, which is the same as the value of the pool share. 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. Included in LAIF’s investment portfolio are collateralized mortgage obligations, mortgage- backed securities, other asset-backed securities, loans to certain state funds, and floating rate securities issued by federal agencies, government-sponsored enterprises, United States Treasury Notes and Bills, and corporations.

These investments matured in an average of 287 days. Money Market funds were available for withdrawal on demand at June 30, 2024 with an average maturity of 30 days or less.

Concentration of Credit Risk
Investments in the securities of any individual issuer, other than U. S. Treasury securities, mutual funds, and external investment funds that represent 5% or more of total investments are as follows on June 30, 2024:

Issuer Type of Investments Amount
Entity-wide:

Federal Home Loan Bank U.S. Agency Securities 54,599,777$ Federal Farm Credit Bank U.S. Agency Securities 45,472,563

EXHIBIT A
131
49 City of Livermore
Notes to Financial Statements
June 30, 2024
Fair Value Measurement of Investments
The City categorizes the fair value measurements of its investments based on the hierarchy established by generally accepted accounting principles. The fair value hierarchy, which has three levels, is based on the valuation inputs used to measure an asset's fair value. The following provides a summary of the hierarchy used to measure fair value:
• Level 1 - Quoted prices in active markets for identical assets that the City has the ability to access at the measurement date. Level 1 assets may include debt and equity securities that are traded in an active exchange market and that are highly liquid and are actively traded in over-the-counter markets. • Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets in active markets, quoted prices for identical or similar assets in markets that are not active, or other inputs that are observable, such as interest rates and curves observable at commonly quoted intervals, implied volatilities, and credit spreads. For financial reporting purposes, if an asset has a specified term, a Level 2 input is required to be observable for substantially the full term of the asset. • Level 3 - Unobservable inputs should be developed using the best information available under the circumstances, which might include the City's own data. The City should adjust that data if reasonable available information indicates that other market participants would use different data or certain circumstances specific to the City are not available to other market participants.

The City's fair value measurements are as follows at June 30, 2024:

Level 1 Level 2 Level 3 6/30/2023
U.S. Agencies Bond -$ 189,161,649$ -$ 189,161,649$ Supranational - 15,744,356 - 15,744,356
U.S. Treasury Bond - 46,855,217 - 46,855,217
Commercial Paper - 16,410,831 - 16,410,831
Corporate Notes - 37,185,592 - 37,185,592
Municipal Bonds - 5,147,526 - 5,147,526
Negotiable Certificates of Deposit - 8,114,163 1,654,667 9,768,830 Mortgage-backed Security - 10,648,690 - 10,648,690
Total investments measured at fair value -$ 329,268,024$ 1,654,667$ 330,922,691 Investments Measured at Amortized Cost:

Money Market Mutual Funds 2,058,975
Investments Exempt from Fair Value Hierarchy:

California Local Agency Investment Fund 36,000,332
Cash Equivalent 41,115,531
Total Cash and Investments 410,097,529$
Fair Value Measurements Using
Levels

EXHIBIT A
132
50 City of Livermore
Notes to Financial Statements
June 30, 2024
The California Local Agency Investment Fund (LAIF) is valued using a factor provided in the Pooled Money Investment Account (PMIA) Performance Report by the State Treasurer's Office. Investments classified in Level 2, were valued using prices provided by the City’s custodian bank. Fair value is defined as quoted market value on the last day of the period.

The City issued Pleasant View Limited Obligation Improvement Bonds, Series 2018 for and on behalf of Assessment District No.2016-2 in the amount of $967,537 on June 14, 2018, as a direct placement debt. The City also issued Trevarno Road Limited Obligation Improvement Bonds, Series 2021 for and on behalf of Assessment District No.2021-1 in the amount of $912,000 on January 6, 2022, as a direct placement debt. The City then purchased these bonds as an investment. These investments are not traded in the open market and, therefore, measured at Level 3 as per GASB Statement No. 72 since the valuation inputs for this bond are unobservable. As of June 30, 2024, the balance outstanding for these bonds is $1,654,667. Additional information is provided in Note 9.

Note 4 - Interfund Transactions
Current Interfund Balances
Current interfund balances arise in the normal course of business and represent short-term borrowings occurring as a result of expenditures which are paid prior to the receipt of revenues. These balances are expected to be repaid shortly after the end of the fiscal year when revenues are received. There were no current amounts due from one fund to another at June 30, 2024.

Transfers between Funds
With Council approval, resources may be transferred from one City fund to another. The purpose of the majority of transfers is to subsidize operations of programs and funds which are not self-sustaining. Less often, a transfer may be made to open or close a fund. Interfund transfers for the year ended June 30, 2024 are summarized below.

Fund Receiving Transfers Fund Making Transfers
Amount
Transferred
General Fund Non-Major Governmental Funds 737,455$ A
Non-Major Governmental Funds General Fund 7,056,397 B Non-Major Governmental Funds Non-Major Governmental Funds 508,600 C Internal Service Fund General Fund 3,981,000 C
Stormwater Enterprise Fund General Fund 3,470,000 C Total Interfund Transfers 15,753,452$
A - Transfer for reimbursement for administrative costs B - Transfers of approximately $6.46 million for the debt service payments and the rest as operating subsidies C - Operating subsidy

EXHIBIT A
133
51 City of Livermore
Notes to Financial Statements
June 30, 2024
Long-Term Interfund Advances
The City’s General Fund made an advance of $4,720,000 to the Other Impact Fees Special Revenue Fund for downtown revitalization and the loan will be repaid to the General Fund as the fees are collected. Payment of $287,800 was made during fiscal year 2023-2024. The balance as of June 30, 2024 is $3,586,595.

The City’s Sewer Fund made an advance of $500,000 to the General Fund for replacement of Livermore’s fire stations’ alerting system and the loan will be repaid to the Sewer Fund over five years. Payment of $100,000 was made during fiscal year 2023-2024. The balance as of June 30, 2024 is $400,000.

Internal Balances
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.

Exceptions to this general rule are payments in lieu of taxes where the amounts are reasonably equivalent in value to the interfund services provided and other charges between the government’s airport, water, stormwater, and sewer functions and various other functions of the government. Elimination of these charges would distort the direct costs and program revenues reported for the various functions concerned. Internal balances are presented in the government-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.

Note 5 - Notes Receivable
As of June 30, 2024, Notes Receivables balances are as follows:

General
Fund
Housing
Successor
Low Income
Housing
Housing &
Community
Assistance
Other Local,
State and
Federal Grants
Other Special
Revenue
Funds Total
Deferred Second Mortgage Program -$ 171,760$ 217,350$ 431,400$ 1,638,134$ -$ 2,458,644$ Subsidy Loan - 253,260 - - - - 253,260
Acquisition, Predevelopment &
Development Loans - 6,697,750 33,516,155 - - - 40,213,905 Other Loans 64,369 - - - - 57,295 121,664 Totals 64,369$ 7,122,770$ 33,733,505$ 431,400$ 1,638,134$ 57,295$ 43,047,473$ The City administers a Deferred Second Mortgage Program. Under the Program, individuals with incomes below a certain level are eligible to receive low interest loans, secured by second deeds of trust, to help purchase their home or rehabilitate it. Upon approval of loans, the City disburses the funds, arranges for, and collects repayments.

As part of the Valley Care Senior Housing Project, Housing Successor Fund provided a subsidy loan in the amount of $1,137,691. The loan bears four percent compound interest annually on the outstanding principal and interest balance. Payment of $134,277.24 is due annually until the loan is fully paid off. The outstanding balance on this loan on June 30, 2024, is $253,260.

EXHIBIT A
134
52 City of Livermore
Notes to Financial Statements
June 30, 2024
The former Redevelopment Agency (RDA) engaged in programs designed to encourage construction of or improvement to low-to-moderate income housing. Under these programs, loans are provided under favorable terms to homeowners or developers who agree to expend these funds in accordance with the Agency’s terms.

With the dissolution of the former Redevelopment Agency the City became the Successor to the former Redevelopment Agency’s housing activities and as a result, the Housing Successor Fund assumed the notes receivable of the former Redevelopment Agency’s Low- and Moderate-Income Housing Fund. The balances of the notes receivable in the Housing Successor Fund at June 30, 2024 are $6,697,750.

The City’s Low Income Housing Fund provides affordable rental housing opportunities for low- and moderate-income households. Funding is provided to the developers by subsidizing the acquisition, construction, and rehabilitation of affordable rental housing. Terms vary among notes with most ranging from 55 years to 65 years with the interest rate at 3%. The balances of the notes receivables at June 30, 2024 are $33,516,155.

There are two other loans. In fiscal year 2022-23, the City entered into an agreement with 2205 Railroad Avenue LLC for the development of a four-story hotel site and received a note for $64,369. The note is interest-free and is due no later than December 31, 2025.

In July 1990 and September 1992, the City and California Water Service Company (“Calwater”) entered into agreements to make annual payments for a term of 40 years to the City of Livermore for water lines sold to Calwater under Consolidated Refunding District 2002, College Avenue. The balance outstanding on this loan on June 30 2024 is $57,295.

Note 6 - Lease Receivables
The City, as a lessor, has entered into long-term non-cancelable lease agreements for buildings, parking lots, land, facilities, and cell sites, which expire at various dates through 2061. During the year ended June 30, 2024, the City recognized $755,138 and $424,995 in lease revenue and interest revenue, respectively, pursuant to these contracts.

As of June 30, 2024, the City has a receivable for lease payments of $12,122,671, and a balance of deferred inflow of resources of $11,514,517. The future lease payments were discounted at a rate of 1.92% to 3.57%, depending on the length of the lease.

EXHIBIT A
135
53 City of Livermore
Notes to Financial Statements
June 30, 2024
Note 7 - Capital Assets
All capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available.

Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are valued at acquisition cost. Some capital assets may be acquired using Federal and State grant funds, or they may be contributed by developers or other governments. Generally accepted accounting principles requires that these contributions be accounted for as revenues at the time the capital assets are contributed.

The City’s policy is to capitalize infrastructure with a cost exceeding $100,000 and other capital assets with a cost exceeding $25,000 and with useful lives exceeding one year.

The City has recorded all its public domain (infrastructure) capital assets, which include roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems in its government–wide financial statements.

All capital assets with limited useful lives are depreciated over their estimated useful lives. The purpose of depreciation is to spread the cost of capital assets equitably among all users over the life of the assets. The amount charged to depreciation expense each year represents that year’s pro rata share of the cost of capital assets.

Depreciation of all capital assets is charged as an expense against operations each year and the total amount of depreciation taken over the years, called accumulated depreciation, is reported on statement of Net Position as a reduction in the book value of the capital assets.

Depreciation of capital assets in service is provided using the straight-line method which means the cost of the asset is divided by its expected useful life in years and the result is charged to expense each year until the asset is fully depreciated. The City has assigned the useful lives listed below to capital assets.

Buildings 25-50 years
Improvements 3-50 years
Equipment 3-20 years
Library books 3-20 years
Licensed Vehicles 3-20 years
Infrastructure 25-50 years

EXHIBIT A
136
54 City of Livermore
Notes to Financial Statements
June 30, 2024
Capital Asset Additions and Retirements
Capital asset activity for the year ended June 30, 2024 comprises the following:

Balance Retirements Transfers/ Balance at
June 30, 2023 Additions and adjustments Reclassification June 30, 2024 Governmental Activities
Governmental Fund Capital Assets
Capital assets not being depreciated:

Land 43,845,981$ -$ -$ -$ 43,845,981$
Intangible asset - easement 4,542,933 - - - 4,542,933 Construction in progress 83,458,338 20,765,603 (6,001) (46,972,634) 57,245,306 Subtotal 131,847,252 20,765,603 (6,001) (46,972,634) 105,634,220 Capital assets being depreciated, cost:

Office equipment 2,652,672 - - - 2,652,672
Other equipment 9,470,846 - - - 9,470,846
Library books 2,062,340 - - - 2,062,340
Licensed vehicles 289,991 - - - 289,991
Infrastructure 362,432,966 355,076 - 16,651,181 379,439,223 Buildings 123,639,310 - - 30,321,453 153,960,763
Subtotal 500,548,125 355,076 - 46,972,634 547,875,835 Accumulated Depreciation:

Office equipment (2,449,988) (46,172) - - (2,496,160) Other equipment (7,032,301) (299,292) - - (7,331,593) Library books (2,062,340) - - - (2,062,340)
Licensed vehicles (223,514) (23,031) - - (246,545) Infrastructure (203,186,675) (8,533,650) - - (211,720,325) Buildings (48,790,612) (2,565,448) - - (51,356,060) Subtotal (263,745,430) (11,467,593) - - (275,213,023) Net Governmental Funds
capital assets being depreciated 236,802,695 (11,112,517) - 46,972,634 272,662,812 Right-to-use subscription IT assets being amortized
Right-to-use subscription IT assets 3,399,931 - - - 3,399,931 Accumulated amortization (596,329) (721,707) - - (1,318,036) Net right-to-use subscription IT assets 2,803,602 (721,707) - - 2,081,895 Total Governmental Funds
capital assets 371,453,549$ 8,931,379$ (6,001)$ -$ 380,378,927$

EXHIBIT A
137
55 City of Livermore
Notes to Financial Statements
June 30, 2024
Balance at Retirements Transfers/ Balance at
June 30, 2023 Additions and Adjustments Reclassification June 30, 2024 Internal Service Fund Capital Assets
Capital assets not being depreciated:

Construction in progress 1,871,891$ 3,079,233$ -$ (779,411)$ 4,171,713$ Subtotal 1,871,891 3,079,233 - (779,411) 4,171,713 Capital assets being depreciated, cost:

Office equipment 2,767,772 - - - 2,767,772
Other equipment 1,133,100 174,066 - 121,477 1,428,643 Infrastructure 12,406,587 - - - 12,406,587
Buildings - - - 359,934 359,934
Licensed vehicles 18,227,342 1,298,458 (538,972) 298,000 19,284,828 Subtotal 34,534,801 1,472,524 (538,972) 779,411 36,247,764 Accumulated Depreciation:

Office equipment (2,449,610) (102,316) - - (2,551,926) Other equipment (582,120) (72,876) - - (654,996) Infrastructure (3,939,926) (411,031) - - (4,350,957) Buildings - - - - -
Licensed vehicles (11,845,948) (1,267,511) 536,472 - (12,576,987) Subtotal (18,817,604) (1,853,734) 536,472 - (20,134,866) Net Internal Service Fund
capital assets being depreciated 15,717,197 (381,210) (2,500) 779,411 16,112,898 Right-to-use subscription IT assets being amortized
Right-to-use subscription IT assets 592,396 - - - 592,396 Accumulated amortization (151,199) (151,199) - - (302,398) Net right-to-use subscription IT assets 441,197 (151,199) - - 289,998 Total Internal Service Funds 18,030,285 2,546,824 (2,500) - 20,574,609 Governmental activity capital assets, net 389,483,834$ 11,478,203$ (8,501)$ -$ 400,953,536$

EXHIBIT A
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56 City of Livermore
Notes to Financial Statements
June 30, 2024
Balance Retirements Transfers/ Balance at
June 30, 2023 Additions and adjustments Reclassification June 30, 2024 Business-type activities
Capital assets not being depreciated:

Land 13,380,924$ -$ -$ -$ 13,380,924$
Land improvements 634,433 - - - 634,433
Construction in progress 14,119,881 20,368,391 (100,475) (6,792,874) 27,594,923 Subtotal 28,135,238 20,368,391 (100,475) (6,792,874) 41,610,280 Capital assets being depreciated:

Office equipment 647,780 - - - 647,780
Other equipment 7,831,585 - - 4,696,286 12,527,871 Licensed Vehicles 709,592 - - - 709,592
Airport infrastructure 11,990,733 - - - 11,990,733 Water infrastructure 59,937,565 - - 889,437 60,827,002 Sewer infrastructure 142,092,226 30,500 - 1,207,151 143,329,877 Storm Drain infrastructure 111,308,669 263,000 - - 111,571,669 Stormwater infrastructure 1,011,473 - - - 1,011,473 Buildings 22,657,719 359,721 - - 23,017,440 Subtotal 358,187,342 653,221 - 6,792,874 365,633,437 Accumulated Depreciation:

Office equipment (396,518) (58,750) - - (455,268) Other equipment (1,581,568) (459,143) - - (2,040,711) Licensed Vehicles (314,046) (34,177) - - (348,223) Airport infrastructure (10,430,338) (78,294) - - (10,508,632) Water infrastructure (30,248,666) (1,662,505) - - (31,911,171) Sewer infrastructure (94,200,763) (3,298,718) - - (97,499,481) Storm Drain infrastructure (91,099,318) (1,875,160) - - (92,974,478) Stormwater infrastructure (243,504) (44,651) - - (288,155) Buildings (11,710,837) (448,376) - - (12,159,213) Subtotal (240,225,558) (7,959,774) - - (248,185,332) Net capital assets being depreciated 117,961,784 (7,306,553) - 6,792,874 117,448,105 Right-to-use subscription IT assets being amortized
Right-to-use subscription IT assets 426,266 - - - 426,266 Accumulated amortization (49,184) (49,185) - - (98,369) Net right-to-use subscription IT assets 377,082 (49,185) - - 327,897 Business-type activity capital assets, net 146,474,104$ 13,012,653$ (100,475)$ -$ 159,386,282$

EXHIBIT A
139
57 City of Livermore
Notes to Financial Statements
June 30, 2024
Depreciation and Amortization Allocation
Depreciation expense was charged to functions and programs based on their usage of the related assets. The amount allocated to each function or program was as follows:

Governmental
Activities
Business-Type
Activities
General Government 2,413$ -$
Fire 312,199 -
Police 335,394 -
Public Works 11,269,881 -
Community Development 1,559,260 -
Library 715,086 -
Airport - 329,642
Water - 1,742,657
Sewer - 4,011,776
Storm Water - 1,924,884
Total Depreciation Expense 14,194,233$ 8,008,959$
Depreciation and amortization

EXHIBIT A
140
58 City of Livermore
Notes to Financial Statements
June 30, 2024
Note 8 - Long-Term Liabilities
Long-Term Debt Schedule:

The City’s debt comprises bonds, loans, notes, certificates of participation (COP), and refunding certificates of participation. Certificates of participation are similar to debt; they allow investors to participate in a share of guaranteed payments, which are made by the City. Because they are similar to debt, the present value of the total of the payments to be made by the City is recorded as long-term debt. Details of the individual debt issues and transactions are set forth below:

Balance at Balance at Current
June 30, 2023 (Retirements) June 30, 2024 Portion
Governmental Activities
Certificates of Participation:
2020A, 4%, 2042 7,080,000$ (230,000)$ 6,850,000$ 260,000$ Unamortized Premium 1,220,848 (64,255) 1,156,593 64,255 2020B, 4%, 2030 30,348,750 (2,718,660) 27,630,090 2,826,794 Unamortized Premium 4,948,909 (519,918) 4,428,991 519,919 2022, 5%, 2052 40,215,000 (665,000) 39,550,000 695,000 Unamortized Premium - 2022 COPUnamortized Premium 482,323 (16,632) 465,691 16,632 Housing & Urban Development Loan, varies, 2030 * 727,439 (360,759) 366,680 90,758 Internal Service Funds:

Financed Purchase:

Banc of America Equipment Purchase Loan 5,354,242 (856,119) 4,498,123 921,084 Total governmental activities debt 90,377,511$ (5,431,343)$ 84,946,168$ 5,394,442$ Business-type Activities
Airport
Certificates of Participation:
2020B, 4%, 2030 3,395,949$ (176,008)$ 3,219,941$ 182,567 Unamortized Premium 582,343 (39,330) 543,013 39,330
Financed Purchase:

Banc of America Equipment Purchase Loan 209,925 (33,633) 176,292 36,185 Water
Certificates of Participation:
2020B, 4%, 2030 2,360,303 (255,332) 2,104,971 265,640 Unamortized Premium 375,109 (46,888) 328,221 46,888 0
Total business-type activities debt 6,923,629$ (551,191)$ 6,372,438$ 570,610$ * Private Placement Debt
Long Term Debt
2020 Certificates of Participation
On June 25, 2020, the City issued tax-exempt 2020 Certificates of Participation (2020 COP) to refinance the 2011 COP, 2014 COP Series A and 2014 COP Series B. There are two semi‐annual debt service payments, consisting of principal payments due annually on April 1 and interest payments due on October 1 and April 1, which are payable solely from and secured by the lease payments made by the City to the Public Property Financing Corporation of California. Lease payments will be made by the City pursuant to the Lease Agreement for the use and occupancy of the Leased Property, which comprises of the City’s police facility and civic center library located in the City’s Civic Center.

EXHIBIT A
141
59 City of Livermore
Notes to Financial Statements
June 30, 2024
The 2020 Certificates of Participation Series A (2020 COP Series A) are qualified 501(c)(3) certificates and are issued in the principal amount $7,465,000 to refund the 2014 COP Series A (Livermore Valley Performing Arts Center Refunding) and to pay certain costs of executing and delivering the 2020 Series A Certificates.

Lease payments for 2020 COP Series A will be made by the pledged revenue of the Host Community Impact Fee Special Revenue Fund.

The City issued $42,035,000 principal amount of 2020 Certificates of Participation Series B, (2020 COP Series B) to refund the outstanding principal balance of $14,945,000 for the 2011 COP and $35,530,000 for the 2014 COP Series B as well as to fund certain costs of executing and delivery of the Certificates. Lease payments for 2020 COP Series B will be made by the General Fund, Airport Enterprise Fund, and Water Enterprise Fund. 2022 Certificates of Participation
On November 1, 2022, the City issued tax-exempt 2022 Certificates of Participation (2022 COP) to finance the design and construction of a parking garage to provide adequate parking for all existing and new development and other improvements of the City and pay certain costs of executing and delivering the Certificates. There are two semi‐annual debt service payments, consisting of principal payments due annually on April 1 and interest payments due on October 1 and April 1, which are payable solely from and secured by the lease payments made by the City to the Public Property Financing Corporation of California. Lease payments will be made by the City pursuant to the Lease Agreement for the use and occupancy of the Leased Property, which comprises of the City’s police facility and civic center library located in the City Hall and the Civic Center Meeting Hall. Lease payments for 2022 COP will be made by the General Fund.

Hud Section 108 Loans – Direct Borrowing:

In fiscal year 2010, the City received a Section 108 loan in the amount of $1,320,000 from the Department of Housing and Urban Development to purchase the Hagemann Farms. The principal payments are due annually from 2012 through 2030. As of June 30, 2024, the outstanding loan balance was $140,000.

In May 2014, the City entered into a Public Participation Jurisdiction (PPJ) agreement with Alameda County and the Cities of Dublin and Pleasanton to jointly repay a $1,250,000 Section 108 loan guarantee from the US Department of Housing and Urban Development (HUD). This loan was obtained to renovate a building owned by Axis Community Health at 5925 West Las Positas Boulevard, Pleasanton, to expand medical and mental health services throughout the Tri-Valley region. The City of Pleasanton drew $950,000 only since Alameda County paid its share of $300,000 in cash.

The City of Livermore has committed to pay $387,505 or approximately 41% of the total loan amount of $950,000. As of June 30, 2024, the outstanding loan balance was $226,680. Payment of the loan is made out of the Other State, Federal, and Local Grants Fund.

EXHIBIT A
142
60 City of Livermore
Notes to Financial Statements
June 30, 2024
Financed Purchase
Bank of America Equipment Purchase Loan
On October 24, 2012, the City entered into an equipment purchase agreement with Bank of America Public Capital Corp to install photovoltaic panels and streetlights throughout the City. The present value of minimum lease payments in the amount of $12,538,957 were initially reported on the financial statements. Rental payments are due in 180 uneven monthly payments ranging from $69,892 to $115,868 and include interest at the rate of 2.59%. Monthly lease payments began on November 24, 2013 and end on October 24, 2028. Because loan payments did not begin until construction was completed in November 2013, the accrued interest of $110,494 for July through October was capitalized and added to the principal balance at that time. Loan payments are being made by the Facilities Rehabilitation Internal Service Fund and the Airport Enterprise Fund.

Debt Service Requirements
Debt service requirements are shown below for all long-term debt, including financed purchase obligations.

For the Year
Ending June 30 Principal Interest Principal Interest
2025 4,793,636$ 3,316,877$ 484,391$ 208,186$ 2026 5,043,782 3,127,642 505,124 188,928 2027 5,199,770 2,930,913 528,522 168,826 2028 5,454,950 2,726,782 551,386 147,840 2029 4,885,702 2,519,340 540,944 126,236 2030-2034 15,172,063 10,160,483 1,576,728 372,812 2035-2039 11,083,972 7,671,611 900,126 175,746 2040-2044 10,501,018 5,261,689 413,982 16,686 2045-2049 9,720,000 3,167,313 - - 2050-2052 7,040,000 697,369 - - Total 78,894,893$ 41,580,019$ 5,501,203$ 1,405,260$ Premium, net of amortization 6,051,275 871,235 84,946,168$ 6,372,438$
Governmental Activities Business-type Activities

EXHIBIT A
143
61 City of Livermore
Notes to Financial Statements
June 30, 2024
Subscription-Based Information Technology Arrangements
A subscription-based IT arrangement (SBITA) is defined as a contractual agreement that conveys control of the right to- use another entity’s IT asset, alone, or in conjunction with a tangible capital asset, for a minimum contractual period of greater than one year, in an exchange or exchange-like transaction. The City enters into SBITAs such as software licenses downloaded or available remotely, data storage, and hardware necessary to use the IT asset. The related obligations are presented in the amounts equal to the present value of SBITA payments, payable during the remaining SBITA term. As the licensee, the City recognizes a SBITA liability and an associated intangible-SBITA asset on the Statement of Net Position.

The City has several leasing arrangements accounted for under GASB No. 96, Subscriptions Based Information Technology Arrangements. These arrangements are summarized below.

Licensee Activities
The City has accrued liabilities for eight subscription based information technology (IT) arrangements as of June 30, 2024. Software subscriptions accrued provide the City with remote desktops capabilities, and enterprise application functionality. The remaining liability for these subscriptions is $2,600,015 as of June 30, 2024, respectively. Right to use assets, net of amortization, for these subscriptions is $2,699,790 as of June 30, 2024. Interest expense recognized on these subscriptions was $87,080 for the fiscal year ended June 30, 2024. Principal payments of $975,356 were recognized in the year ended June 30, 2024. Final payment on these subscription arrangements is expected in fiscal year 2033.

Balance at Additions Balance at Current
June 30, 2023 (Retirements) June 30, 2024 Portion
Governmental Activities
Governmental Fund Capital Assets
Subscriptions payable 2,776,020$ (763,280)$ 2,012,740$ 785,260$ Internal Service Fund Capital Assets
Subscriptions payable 422,759 (167,706) 255,053$ 173,869 Total governmental activities 3,198,779$ (930,986)$ 2,267,793$ 959,129$ Business-type Activities
Water
Subscriptions payable 62,765$ (7,395)$ 55,370$ 7,881$ Sewer
Subscriptions payable 286,928 (33,806) 253,122 36,026 Stormwater
Subscriptions payable 26,899 (3,169) 23,730 3,377
Total business-type activities 376,592$ (44,370)$ 332,222$ 47,284$

EXHIBIT A
144
62 City of Livermore
Notes to Financial Statements
June 30, 2024
The City’s schedule of future payments included in the measurement of leases payable is as follows:

For the Year
Ending June 30 Principal Interest Principal Interest
2025 959,128$ 62,117$ 47,284$ 9,442$
2026 776,559 36,528 50,329 8,098
2027 282,020 16,086 53,513 6,668
2028 78,492 7,107 56,839 5,147
2029 83,291 4,877 60,314 3,531
2030-2031 88,303 2,510 63,943 1,817
Total 2,267,793$ 129,225$ 332,222$ 34,703$
Governmental Activities Business-type Activities
Compensated Absences
Compensated absences are comprised of unused vacation leave and certain compensated time off and are accrued as earned. Compensated absences are liquidated by the fund that has recorded the liability. The long-term portion of governmental activities compensated absences is liquidated primarily by the General Fund. The liability for compensated absences is determined annually. For all governmental funds, amounts expected to be paid out for permanent liquidations due to terminations and retirements are recorded as fund liabilities; the long-term portion is recorded in the Statement of Net Position. Sick pay does not vest and is not accrued.

The change in compensated absences for the fiscal year 2024 was as follows:

Governmental Business Type
Activities Activities Total
Beginning balance 4,176,278$ 651,924$ 4,828,202$ Additions 4,020,297 550,487 4,570,784
Payments (3,133,470) (563,368) (3,696,838) Ending balance 5,063,105$ 639,043$ 5,702,148$
Current portion 1,566,599$ 235,250$ 1,801,849$

EXHIBIT A
145
63 City of Livermore
Notes to Financial Statements
June 30, 2024
Note 9 - Special Assessment District Debt with No City Commitment Special assessment districts, including Mello Roos Districts, exist in various parts of the City to provide improvements to properties located in those districts. Properties are assessed for the cost of improvements; these assessments are payable over the term of the debt issued to finance the improvements and must be sufficient to repay this debt. The City acts solely as the collecting and paying agent for the special assessment district debt issues below, but it has no direct or contingent liability or moral obligation for the payment of this debt. This debt is not included in the general debt of the City. The outstanding balance of each of these issues as of June 30, 2024 is as follows:

District
Balance at
June 30, 2023
Additions
(Retirements)
Balance at
June 30, 2024
Current
Portion
Community Facilities District No. 2009-1 (El Charro)
2015 Refunding Special Tax Note 16,354,647$ (515,145)$ 15,839,502$ 542,906$ 2016 Special Tax Bonds 4,213,707 (109,207) 4,104,500 113,466 Unamortized Discount (1,263,613) 32,749 (1,230,864) (34,026) 2017 Special Tax Note 2,447,036 (127,039) 2,319,997 133,074 Community Facilities District No. 1999-1 (Tri-Valley Technology Park) Special Tax Bonds Series 2015 9,285,000 (1,035,000) 8,250,000 1,065,000 Unamortized Discount (49,082) 6,849 (42,233) (6,849) Community Facilites District No. 2016-2 (Shea Properties) Special Tax Refunding Bonds, Series 2016 8,160,000 (360,000) 7,800,000 385,000 Unamortized Discount (254,170) 6,451 (247,719) (13,402) Assessment District 2016-2 (Pleasant View)
Improverment Bonds, Series 2018 880,000 (20,000) 860,000 25,000 Assessment District 2021-1 (Trevarno Road)
Improverment Bonds, Series 2022 912,000 (117,333) 794,667 16,000 Total 40,685,525$ (2,237,675)$ 38,447,850$ 2,226,169$ Community Facilities District (CFD) No. 2009-1 (El Charro) 2015 Refunding Special Tax Note – On June 1, 2015, the City on behalf of El Charro CFD No. 2009-1 entered into a special tax loan agreement with Livermore Premium Outlets, LLC. This loan was issued to refund the remaining principal amounts of the 2012 and 2014 loans.
2016 Special Tax Bonds – On September 1, 2016 the City on behalf of El Charro CFD No. 2009-1 entered into a special tax loan agreement with Crosswinds Church. The Bonds were issued to fund certain public infrastructure improvements within the CFD.
2017 Special Tax Note – On July 14, 2017 the City on behalf of El Charro CFD No. 2009-1 entered into a special tax loan agreement with Livermore Investments, LLC. This loan was issued to fund certain public infrastructure improvements within the CFD.

EXHIBIT A
146
64 City of Livermore
Notes to Financial Statements
June 30, 2024
Community Facilities District No. 1999-1 (Tri-valley Technology Park) Special Tax Bonds, Series 2015 On May 28, 2015, the City sponsored the issuance of the Community Facilities District No. 1999-1 (Tri-valley Technology Park) Special Tax Bonds, Series 2015. The Bonds were issued to defease and refund remaining principal amount of Community Facilities District No. 1999-1 (Tri-valley Technology Park) Special Tax Bonds, Series 2000.

Community Facilities District No. 2016-2 (Shea Properties) Special Tax Refunding Bonds, Series 2016 On December 22, 2016, the City sponsored the issuance of Community Facilities District No. 2016-2 (Shea Properties) Special Tax Refunding Bonds, Series 2016. The bonds were issued to defease and refund the remaining principal amount of the Community Facilities District No 2006-1 (Shea Properties) Special Tax Bonds, Series 2006.

Assessment District No. 2016-2 (Pleasant View) Limited Obligation Improvement Bonds, Series 2018 On June 14, 2018, the City issued bonds to fund certain public infrastructure improvements within the assessment district. The improvements included connections to the sanitary sewer service system, installation of streetlights, fire hydrants, provide for emergency vehicle access, and the addition of sidewalk curb and gutters to the required standards of the City. For additional information, see Note 3.

Assessment District No. 2021-1 (Trevarno Road) Limited Obligation Improvement Bonds, Series 2022 On January 6, 2022, the City issued bonds to fund certain public infrastructure improvements within the assessment district. The improvements included connections to the sanitary sewer service system and improvements to the water infrastructure. For additional information, see Note 3.

Note 10 - Net Position and Fund Balances
Net Position is measured on the full accrual basis, while Fund Balance is measured on the modified accrual basis. Net Position is the excess of all the City’s assets and deferred outflows of resources over all its liabilities and deferred inflows of resources, regardless of fund. Net Position is divided into three captions. These captions apply only to Net Position, which is determined only at the Government-wide level, 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’s capital assets, less the outstanding balance of any debt issued to finance these assets. See table below for calculation of Net Investment in Capital Assets from portions of the Statement of Net Position.

Governmental
Activities
Business-Type
Activities Total
Net Assets:

Land, easements and construction in progress 109,805,933$ 41,610,280$ 151,416,213$ Capital assets, net of accumulated depreciation 288,775,710 117,448,105 406,223,815 Right-to-use subscription IT assets,
net of accumulated amortization 2,371,893 327,897 2,699,790 Total Net Assets: 400,953,536 159,386,282 560,339,818 Less Debt Related to Assets:

Long-term debt (current portion) (6,353,571) (523,326) (6,876,897) Long-term debt (due in more than one year) (80,860,390) (6,181,334) (87,041,724) Total Debt Related to Assets: (87,213,961) (6,704,660) (93,918,621) Net Investments in Capital Assets 313,739,575$ 152,681,622$ 466,421,197$

EXHIBIT A
147
65 City of Livermore
Notes to Financial Statements
June 30, 2024
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.

These restrictions principally include developer fees received for use on capital projects and debt service requirements.

Unrestricted describes the portion of Net Position which is not restricted as to use.

Sometimes the City will fund outlays for a particular purpose from both restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted-net position and unrestricted-net position in the government-wide and proprietary fund financial statements, a flow assumption must be made about the order in which the resources are considered to be applied. It is the City’s policy to consider restricted-net position to have been depleted before unrestricted-net position is applied.

Fund Balances
Governmental fund balances represent the net current assets of each fund. Net current assets generally represent a fund’s cash and receivables, less its liabilities. The City’s fund balances are classified in accordance with Governmental Accounting Standards Board Statement Number 54 (GASB 54), Fund Balance Reporting and Governmental Fund Type Definitions, which requires the City to classify its fund balances based on spending constraints imposed on the use of resources.

Each category in the following hierarchy is ranked according to the degree of spending constraint:

Non-spendables 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 non-spendable assets are restricted, committed or assigned, then non-spendable 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.

Committed fund balances have constraints imposed by formal action of the City’s highest level of decision-making authority. The City Council is the highest level of decision-making authority for the City that 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 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. Intent is expressed through Council resolution and/or budget document or its designee (City Manager) and may be changed at the discretion of the City Council or its designee. This category includes Non-spendables, 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.

EXHIBIT A
148
66 City of Livermore
Notes to Financial Statements
June 30, 2024
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.

Sometimes the City will fund outlays for a particular purpose from both restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements a flow assumption must be made about the order in which the resources are considered to be applied. It is the City’s policy to consider restricted fund balance to have been depleted before using any of the components of unrestricted fund balance.

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

EXHIBIT A
149
67 City of Livermore
Notes to Financial Statements
June 30, 2024
Detailed classification of the City’s fund balances as of June 30, 2024 are below:

Low Income Other
General Housing-Special Governmental
Fund Balance Classifications Fund Revenue Fund Funds Total Nonspendable:

Items not in spendable form:

Prepaids and deposits 145,502$ 3,000$ -$ 148,502$ Leases 39,400 - - 39,400
Advances and notes receivable 3,650,964 - - 3,650,964 Land held for redevelopment 1,704,483 - - 1,704,483 Total Nonspendable Fund Balances 5,540,349 3,000 - 5,543,349 Restricted for:

Alameda County Transportation programs - - 12,375,037 12,375,037 Gas tax program - - 14,965,381 14,965,381
Grant Programs - - 5,449,491 5,449,491
Host Community Impact program - - 1,368,438 1,368,438 Housing and human services programs - 44,281,973 10,703,547 54,985,520 Maintenance Program - - 16,457,692 16,457,692 Capital improvements programs - - 66,367,353 66,367,353 Park program - - 5,451,442 5,451,442
PEG program - - 1,601,650 1,601,650
Art programs - - 1,267,790 1,267,790
Solid waste and recycling program - - 282,847 282,847
Street sweeping program - - 289,489 289,489
Total Restricted Fund Balances - 44,281,973 136,580,157 180,862,130 Committed for:

Financial stabilization arrangement 14,493,394 - - 14,493,394 Pension 115 Trust 6,188,621 - - 6,188,621
Open space acquisition and management - - 2,907,557 2,907,557 Total Committed Fund Balance 20,682,015 - 2,907,557 23,589,572 Assigned for:

Economic Uncertainty Reserve 18,613,813 - - 18,613,813 CIP Reserves 34,954,363 - - 34,954,363
Total Assigned Fund Balances 53,568,176 - - 53,568,176 Unassigned:

General Fund and other funds 12,259,873 - (454,071) 11,805,802 Total Unassigned Fund Balances 12,259,873 - (454,071) 11,805,802 Total Fund Balances 92,050,413$ 44,284,973$ 139,033,643$ 275,369,029$

EXHIBIT A
150
68 City of Livermore
Notes to Financial Statements
June 30, 2024
Minimum Operating Reserve Policy
On June 13, 2016 the City adopted a resolution to update the City’s Fund Balance Policy. Special Revenue, Debt Service and Capital Projects Funds have no minimum funding levels due to the nature of the funds. The minimum funding levels of the policy are highlighted below.

General Fund
The Committed General Fund Financial Stabilization Operating Reserve minimum funding level is 15% of operating expenditures plus debt service transfers to be used in a catastrophic event or in a major emergency or in periods of severe fiscal crisis. The Assigned General Fund Economic Uncertainty Reserve minimum funding level is 13.5% of operating expenditures plus debt service transfers to be used during times of severe economic distress such as protracted recessionary periods. State raids on local resources, or other impactful unforeseen events which greatly diminish the financial ability of the City to deliver core services. The Unassigned General Fund balance minimum funding level is 1.5% of operating expenditures plus outgoing debt service transfers.

Enterprise Funds
The Airport and Water Funds’ unrestricted net position minimum balance is 12.5% (or 45 days’ worth of working capital) and 33% (or 120 days’ worth of working capital) of operating expenditures plus debt service requirements respectively. The Sewer Fund is recommended to maintain an unrestricted Net Position minimum balance of 50% of their operating budget plus debt service requirements.

Internal Service Funds
Liability Insurance and Workers Compensation Funds are recommended to fully fund actuarially determined claim obligations at a minimum at the seventy percent (70%) confidence level. The City will strive to fully fund actuarially determined claim obligations at the 90% confidence level.

The Fleet Services, Information Technology and Facilities Rehabilitation Funds are recommended to keep 12.5% of operating expenses as minimum unrestricted net position balance.

EXHIBIT A
151
69 City of Livermore
Notes to Financial Statements
June 30, 2024
Note 11 - Pension Plans
A. Social Security/ Public Agency Retirement Systems (PARS) The Omnibus Budget Reconciliation Act of 1990 (OBRA) mandates that public sector employees who are not members of their employer’s existing retirement system as of January 1, 1992 be covered by either Social Security or an alternative plan. The City’s part-time, seasonal, and temporary employees are not covered under Social Security.

The City has an agreement with the Public Agency Retirement System (PARS) to provide an alternative retirement system for employees not eligible for the California Public Employees’ Retirement System (CalPERS) Pension Plan and adopted the PARS 457 Trust including the PARS Section 457 FICA Alternative Retirement Plan.

B. California Public Employees’ Retirement System (CalPERS) Pension Plans All public employees meeting CalPERS membership requirements must participate in pension plans offered by California Public Employees Retirement System (CalPERS).

For the fiscal year ended June 30, 2024, the City reported its net pension liabilities, deferred outflows of resources, deferred inflows of resources, and pension expense for each of the above plans as follows:

Net Pension Liability
Deferred Outflows
of Resources
Deferred Inflows of
Resources Pension Expense
Miscellaneous Plan (104,581,479)$ 28,521,820$ (451,160)$ 5,719,788$ Safety Plan (59,408,142) 25,334,614 (2,549,754) 3,749,297 Total (163,989,621)$ 53,856,434$ (3,000,914)$ 9,469,085$

EXHIBIT A
152
70 City of Livermore
Notes to Financial Statements
June 30, 2024

1. General Information about the Pension Plans
Plan Descriptions – All qualified permanent and probationary employees are eligible to participate in the City’s separate Safety (Police) cost-sharing and Miscellaneous (all other) agent multiple-employer defined benefit plans (Plans), administered by the CalPERS. The Miscellaneous Plans are an agent multiple employer defined benefit pension plans administered by CalPERS, which acts as a common investment and administrative agent for its participating member employers. Benefit provisions under the Plans are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.

The City’s Safety Plans became part of a cost-sharing multiple employer defined benefit pension plan administered by CalPERS, commonly referred to as a risk pool, as of the actuarial valuation date of June 30, 2003. Risk pools exist for employers with less than 100 active plan members.

The City has three retirement benefit tiers in the Plans. Membership in the first tier of the retirement system is closed to new employees hired on or after December 31, 2012. The second tier was adopted by the City in November 2012 for all employees hired December 31, 2012. The third tier was adopted by the City effective January 1, 2013 pursuant to State Assembly Bill 340.

The net pension liabilities will be liquidated primarily from the general fund, approximately 80%, with the remaining amounts from the Airport, Water, Sewer, Stormwater, and internal service funds.

2. Benefits Provided and Actuarial Assumptions
CalPERS provides service and disability retirement benefits, cost of living adjustments, and death benefits to plan members and beneficiaries. Benefits are based on years of credited service, equal to one year of full-time employment. Members with five years of total credited service are eligible to retire at age 50 with statutorily reduced benefits. Members may apply for a non-duty disability retirement benefit after 5 years of service. The death benefit is one of the following: The Basic Death Benefit, the 1959 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.

EXHIBIT A
153
71 City of Livermore
Notes to Financial Statements
June 30, 2024
The Plans’ provisions and benefits in effect at June 30, 2024, are summarized as follows:

Miscellaneous Safety
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Minimum retirement age 50/52 50
Employees hired prior to December 30, 2012 Tier 1 Tier 1 Monthly benefits, as a % of annual salary 2.7% at 55 3% at 50 Required member contribution rates 8% 9%
% paid by employee 8% 9% 1
% paid by employer 0% 0% 1
Required employer contribution rates (Normal cost) 12.450% 27.110% Employer payment of unfunded liability 7,252,176$ 4 3,739,165$ Employees hired December 31, 2012 Tier 2 Tier 2
Monthly benefits, as a % of annual salary 2% at 60 2 3% at 55 3 Required member (employee) contribution rates 7.00% 9.00% Required employer contribution rates (Normal cost) 12.450% 22.830% Employer payment of unfunded liability -$ -$
Employees hired after December 31, 2012 Tier 3 Tier 3
Monthly benefits, as a % of annual salary 2% at 62 2 2.7% at 57 3 Required member (employee) contribution rates: 7.50% 13.8% Required employer contribution rates (Normal cost) 12.450% 13.540% Employer payment of unfunded liability -$ 10,652$
1 Rates presented in the table above were effective 7/1/2016. 4 Balance mentioned above is a combined amount for all Miscellaneous plans. 3 Newly hired Safety Employees will be enrolled in the 3% at 55 or 2.7% at 57 formula, dependent on the individual's eligibility, as per AB340.
2 Newly hired Misc Employees will be enrolled in the 2% at 60 or 2% at 62 formula, dependent on the individual's eligibility, as per AB340.

Employees Covered – At June 30, 2024, the following employees were covered by the benefit terms of the Miscellaneous Plans, however, information for the Safety Police Plans was not provided from CalPERS for cost-sharing multiple employer defined benefit pension plans.

Miscellaneous1
Inactive employees or beneficiaries currently receiving benefits 531 Inactive employees entitled to but not yet receiving benefits 299 Active employees 292
Total 1,122
1 All Tiers of the Miscellaneous plans were reported together in the Census data report by CalPERS.

EXHIBIT A
154
72 City of Livermore
Notes to Financial Statements
June 30, 2024
Contributions – Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for both Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The City must contribute these amounts. 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 year ended June 30, 2024, the contributions recognized as part of pension expense for the Plans were as follows:

Miscellaneous1 Safety Police1 Total
Contributions - employer 11,614,520$ 6,837,202$ 18,451,722$ 1 All Tiers of the Miscellaneous and Safety Police plans were combined together on GASB 68 report by CalPERS.

Actuarial Assumptions – The total pension liabilities in the June 30, 2024 actuarial valuations were determined using the following actuarial assumptions:

All Plans (1)
Valuation Date June 30, 2022
Measurement Date June 30, 2023
Actuarial Cost Method Entry-Age Normal Cost
Actuarial Assumptions:

Discount Rate 6.90%
Inflation 2.300%
Payroll Growth 2.750%
Projected Salary Increase Varies by Entry Age and Service Investment Rate of Return 7.50% (2)
Mortality (3) Derived using CalPERS’
membership data for all funds
(1)
(2) Net of pension plan investment expenses, including inflation (3) 2021 CalPERS Experience Study for the period from 2001-2019, Recipients with attained age of 50
All of the City's plans for miscellaneous and safety police employed the same assumptions.

EXHIBIT A
155
73 City of Livermore
Notes to Financial Statements
June 30, 2024
The underlying mortality assumptions and all other actuarial assumptions used in the June 30, 2022 valuation were based on the results of the 2019 CalPERS Experience Study for the period 2001 to 2019. Further details of the Experience Study can be found on the CalPERS website.

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

The long-term expected rate of return on pension plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, CalPERS considered both short-term and long-term market return expectations as well as the expected pension fund cash flows. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calculated over the short-term (first 10 years) and the long- term (11+ years) using a building-block approach. Using the expected nominal returns for both short-term and long- term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses. The table below reflects long-term expected real rate of return by asset class.

Assumed
Asset
Asset Class (1) Allocation Real Return 1, 2
Global Equity - Cap-weighted 30.0% 4.54%
Global Equity - Non-Cap-weighted 12.0% 3.84%
Private Equity 13.0% 7.28%
Treasury 5.0% 0.27%
Mortgage-backed Securities 5.0% 0.50%
Investment Grade Corporates 10.0% 1.56%
High Yield 5.0% 2.27%
Emerging Market Debt 5.0% 2.48%
Private Debt 5.0% 3.57%
Real Assets 15.0% 3.21%
Leverage -5.0% -0.59%
Total 100.0%
(2) Figures are based on the 2021 Asset Liability Management study. (1) An expected inflation of 2.30% used for this period.

EXHIBIT A
156
74 City of Livermore
Notes to Financial Statements
June 30, 2024

3. Miscellaneous Agent Multiple-Employer Defined Benefit Pension Plan (Miscellaneous) The changes in the Net Pension Liability for the Miscellaneous Plan during the measurement year were as follows:

Miscellaneous Plan1: Total Pension Plan Fiduciary Net Pension Liability Net Position Liability/(Asset)
Balance at June 30, 2022 2 353,838,036$ 253,343,882$ 100,494,154$ Changes in the year:

Service cost 5,928,894 - 5,928,894
Interest on the total pension liability 24,292,885 - 24,292,885 Changes of Assumptions 326,411 - 326,411
Difference between expected and actual experience 3,767,894 - 3,767,894 Net plan to plan resource movement - - -
Contribution - employer - 12,350,716 (12,350,716)
Contribution - employee (paid by employer) - - -
Contribution - employees - 2,339,012 (2,339,012)
Net investment income - 15,725,328 (15,725,328)
Benefit payments, including refunds of
employee contributions (17,651,962) (17,651,962) - Administrative expenses - (186,297) 186,297
Net changes 16,664,122 12,576,797 4,087,325 Balance at June 30, 2023 2
370,502,158$ 265,920,679$ 104,581,479$
1 All Tiers of the Miscellaneous plan were combined together on GASB 68 report by CalPERS. 2 Represent measurement dates used in the GASB 68 valuation report.

Increase (Decrease)
Pension Plan Fiduciary Net Position – Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.

4. Safety Police Cost-Sharing Multiple-Employer Defined Benefit Plan (Police Safety) As of June 30, 2024, the City reported net pension liabilities for its proportionate share of the net pension liability of the Police Safety Plan as follows:

Proportionate Share of
Net Pension Liability 1
Safety Police Plan (59,408,142)$
1 All Tiers of the Safety Police plan were combined together on GASB 68 report by CalPERS.

EXHIBIT A
157
75 City of Livermore
Notes to Financial Statements
June 30, 2024
The City’s net pension liability for the Plans is measured as the proportionate share of the net pension liability. The net pension liability of the Plans are measured as of June 30, 2023, and the total pension liability for the Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2022 rolled forward to June 30, 2023 using standard update procedures. The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined.

The City’s proportionate share of the net pension liability for the Plan as of the measurements dates of June 30, 2022 and 2023 was as follows:

Safety Police
Proportion - June 30, 2022 0.79638%
Proportion - June 30, 2023 0.79476%
Change - Increase (Decrease) -0.00162%
1 All Tiers of the Safety Police plan were combined together on GASB 68 report by CalPERS.

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

5. Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the City’s Miscellaneous Plan and the City’s proportionate share of the net pension liability for the Safety Police Plan, calculated using the discount rate for the Plan, as well as what the City’s net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1- percentage point higher than the current rate:
1% Decrease Current 1% Increase
Net Pension Liability (5.90%) (6.90%) (7.90%)
Miscellaneous Plan1 $151,873,336 104,581,479 $65,279,476 Police Safety Plan1 87,899,971 59,408,142 36,114,044 Discount Rate
1 All Tiers of the Miscellaneous plan and Safety Police plan were combined together into

6. Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions For the fiscal year ended June 30, 2024, the City recognized pension expense of $5,719,788 for the Miscellaneous Plan and $3,749,297 for the Police Safety Plan for a total pension expense of $9,469,085.

EXHIBIT A
158
76 City of Livermore
Notes to Financial Statements
June 30, 2024
At June 30, 2024, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred
Outflows
Deferred
Inflows
Deferred
Outflows
Deferred
Inflows
Deferred
Outflows
Deferred
Inflows
of Resources of Resources of Resources of Resources of Resources of Resources Differences between actual
and expected experience 2,260,736$ (451,160)$ 4,361,654$ (373,403)$ 6,622,390$ (824,563)$ Changes in assumptions 2,637,779 - 3,467,139 - 6,104,918 - Net differences between
projected and actual earnings
on plan investments 12,008,785 - 8,129,988 - 20,138,773 - Change in proportion and
differences between actual
contributions and
proportionate share of
contributions - - 2,538,453 (2,176,351) 2,538,453 (2,176,351) Total 16,907,300$ (451,160)$ 18,497,234$ (2,549,754)$ 35,404,534$ (3,000,914)$ Miscellaneous Plan Safety Police Plan Total
Pension contributions subsequent to
measurement date
Deferred Outflows
of Resources
Deferred Inflows of
Resources Total
Miscellaneous Plan1 11,614,698$ -$ 11,614,698$
Safety Police Plan1 6,837,202 - 6,837,202
Total 18,451,900$ -$ 18,451,900$
1 All Tiers of the Miscellaneous and Police Safety plan were combined together on GASB 68 report by CalPERS.

In the table above amounts 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, 2025.

Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Miscellaneous Plan Safety Police Plan Total
Fiscal Year Deferred Deferred Deferred
Ended Outflows/(inflows) Outflows/(inflows) Outflows/(inflows) June 30 of Resources of Resources of Resources
2025 5,834,841$ 5,312,833$ 11,147,674$
2026 1,969,546 3,704,645 5,674,191
2027 8,325,027 6,703,077 15,028,104
2028 326,726 226,925 553,651
16,456,140$ 15,947,480$ 32,403,620$

EXHIBIT A
159
77 City of Livermore
Notes to Financial Statements
June 30, 2024
Note 12 - Other Post Employment Benefits
The City has two types of retirement health benefits as determined by Council resolution and through agreements with its labor units. One plan is a Defined Benefit Plan (Other Post Employment Benefit “OPEB”) which provides health care benefits for retired employees under third party insurance plans. The second plan is a Defined Contribution Plan in which the City contributes a fixed amount to a retirement health savings account on behalf of employees who are not eligible for OPEB. The City’s Defined Benefit OPEB plan is closed to new entrants; all new employees are enrolled into the City’s Defined Contribution plan.

Executive
Management
Mid-Mgmt &
Confidential LPOA Police
Management
§ Hired Before • 8/1/2014 · 2/1/2006 · 2/1/2007 · 9/1/2004 § Eligibility •
•
§ Benefit •
• City will reimburse Medicare A & B if required for Medical coverage • Reimbursement percentage based on bargaining group and CalPERS service:

PERS
Service
Reimb
%
PERS
Service
Reimb
%
PERS
Service
Reimb
%
10 75% 10 70% 15 75%
15 80% 15 80% 20 85%
20 90% 20 90% 25+ 100%
25+ 100% 25+ 100%
· DOR < 10/9/01: $200 · DOR < 9/25/00: $200 · DOR < 2/1/02: $200 · DOR < 4/7/03: $200 § Cap · DOR < 10/9/01 and · DOR between 9/25/00 · DOH < 2/1/07: · Tier 1 (PL/Cpt):

DOH < 1/10/05: and 7/1/15: $2,121.241 $2,121.24 $1,866.20 2 (DOR < 9/1/04) $2,121.24 $2,121.24 1
• DOH ≥ 1/10/05: · DOR ≥ 7/1/15 and · DOR > 1/1/06: · DOH > 2/1/07: · Tier 2 (Actively With a current benefit DOH < 2/1/06: With a current benefit No benefits, City employed as of maximum of $1,866.201 With a current benefit maximum of $2,058.201 contributes 5% 8/30/04): $2,371.81 2 maximum of $1,9501 of base pay to
RHSA, EE · Tier 3 (promoted
· DOH ≥ 2/1/06: · DOR > 11/9/14: contributes 1% after 9/1/04): $1,866.20 2 No benefits, City No benefit, City With a current benefit of base pay to contributes 4% contributes 4% of maximum of $2,050 RHSA · Promoted EE's stay of base pay to base pay to RHSA with RHSA if RHSA
RHSA · DOR > 1/1/17: $1,950 was prior benefit
· DOH ≥ 4/1/07: · DOH ≥ 9/1/04:

No benefits, City No benefits; City
contributes 4% contributes 5%
of base pay to of base pay to

RHSA RHSA
1: Will be matched to Kaiser A two party rate for an active employee 2: Will be matched to Pre 65 Retireee Kaiser A two party rate · DOR < 10/3/03: $200
· DOR > 10/3/03:
· DOH ≥ 8/1/14:

ALE
· 4/1/2007
Retire directly from the City with 10 years CalPERS service (15 years for Police safety) and a minimum of 5 years City service, or
Industrial disability, for police safety (except for employees enrolled in retirement health savings account) City reimburses up to a percentage subject to a cap that varies by bargaining group

EXHIBIT A
160
78 City of Livermore
Notes to Financial Statements
June 30, 2024
Funding Policy and Actuarial Assumptions
The actuarially determined contribution (ADC) to the OPEB plan was determined as part of a June 30, 2023 actuarial valuation using the entry age normal actuarial cost method. This is a projected benefit cost method, which takes into account those benefits that are expected to be earned in the future as well as those already accrued. The actuarial assumptions included (a) 6.25% investment rate of return, (b) 2.75% projected annual salary increase, and (c) 2.50% general inflation rate and (d) health inflation decreases ranging from 3.45%-8.5%. The actuarial methods and assumptions used include techniques that smooth the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets. Actuarial calculations reflect a long-term perspective and actuarial valuations involve estimates of the value of reported amounts and assumptions about the probability of events far into the future. Actuarially determined amounts are subject to revision at least biannually as results are compared to past expectations and new estimates are made about the future.

In accordance with the City’s budget, the actuarially determined contribution (ADC) is to be funded throughout the year as a percentage of payroll. During fiscal year ended June 30, 2010, the City joined the Public Agencies Post- Retirement Health Care Plan, a multiple employer trust administered by Public Agency Retirement Services (PARS).

During current fiscal year, the City made $4,406,083 in the form of pay-as-you-go payments. This trust is not considered a component unit by the City and has been excluded from these financial statements. Separately issued financial statements for PARS may be obtained from PARS at 4350 Von Karman Ave., Suite 200, Newport Beach, CA 92660.

OPEB Trust Fund
Plan Administration
The City is the plan administrator. The Public Agency Retirement Services (PARS) administers the trust for the City’s retiree healthcare benefit plan – an agent multiple-employer defined benefit OPEB plan that provides healthcare benefits for eligible general and public safety employees of the City.

Fiscal Year ended
6/30/24
Plan Type Single Employer
OPEB Trust Yes
Special Funding Situation No
Nonemployer Contributing Entity No

EXHIBIT A
161
79 City of Livermore
Notes to Financial Statements
June 30, 2024
Plan Membership
As of June 30, 2022, the most recent valuation date, membership in the plan consisted of the following:

Number of
Covered Employees
Retirees and beneficiaries receivng benefits 319
Terminated plan members entitled to
but not yet receiving benefits 19
Active plan members 141
479
Benefits Provided
Post-employment healthcare and similar benefit allowances are provided to eligible employees who retire from the City or to their surviving spouses. As noted in the table above in Note 11B(ii), there were 320 participants receiving these healthcare benefits as of June 30, 2024. Refer to the table on the previous page for the contractual maximum contribution rates for the eligible employees depending upon their association with specific bargaining groups.

Contribution Information
PARS establish rates for each employer based on an actuarially determined rate for each employer. For the year ended June 30, 2024, the City’s average contribution rate was 20.5 percent of covered-employee payroll. Plan members are not required to contribute to the plan.

For the year ended June 30, 2024, the City contributed $4,406,083 in relation to the actuarially determined contribution in the form of pay-as-you-go payments.

Investment Policy
PARS offer different investment portfolios as part of the investment vehicle. The City invests in “Capital Appreciation” portfolio; the primary goal of the Capital Appreciation objective is growth of principal. The major portions of the assets are invested in the equity securities and market fluctuations are expected. The portfolio is constructed to control risk through four layers of diversification – asset classes (cash, fixed income, equity), investment styles (large cap, small cap, international, value, growth), managers and securities. Disciplined mutual fund selections and monitoring helps to drive return potential while reducing portfolio risk.

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162
80 City of Livermore
Notes to Financial Statements
June 30, 2024
The following is the City adopted asset allocation policy as of June 30, 2024.

Target Expected Real
Asset Class Component: Allocation Rate of Return
Global Equity 75.00% 4.56%
Fixed Income 20.00% 0.78%
Cash 5.00% -0.50%
Assumed Long Term Rate of Inflation 2.50%
Discount Rate 6.25%
Changes in Net OPEB Liability
The changes in the Net OPEB Liability, as restated, are as follows.

Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability/(Asset)
Balance at June 30, 2022 1 82,272,320$ 39,358,981$ 42,913,339$ Changes in the year:

Service cost 1,087,105 - 1,087,105
Interest on the total pension liability 4,886,409 - 4,886,409 Investment Experience (9,974,671) (9,974,671)
Changes of assumptions 93,577 - 93,577
Contribution - employer - 4,720,518 (4,720,518)
Net investment income - 4,064,254 (4,064,254)
Benefit payments, including refunds of
employee contributions (3,838,518) (3,838,518) -
Administrative expenses - (73,449) 73,449
Net changes (7,746,098) 4,872,805 (12,618,903)
Balance at June 30, 2023 1
74,526,222$ 44,231,786$ 30,294,436$
1 Represent measurement dates used in the GASB 75 valuation report.

Increase (Decrease)
Detailed information about the OPEB plan’s fiduciary net position is available in the separately issued plan financial report that may be obtained from PARS. The liability will be paid for by the general fund.

EXHIBIT A
163
81 City of Livermore
Notes to Financial Statements
June 30, 2024
Actuarial Methods and Assumptions
The City’s net OPEB liability was measured as of June 30, 2024 and the total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation dated June 30, 2022, based on the following actuarial methods and assumptions:

Measurement Date June 30, 2023
Valuation Date June 30, 2022
Funding Policy City Contributes full ADC
PARS portfolio: Capital Appreciation
Medical Trend Non-Medicare - 8.50% for 2025, decreasing to

3.45% in 2076
Medicare (Non-Kaiser) - 7.50% for 2025, decreasing to
an ultimate rate of 3.45% in 2076
Medicare (Kaiser) - 6.25% for 2025, decreasing to
an ultimate rate of 3.45% in 2076
Healthcare participation for future Retirees Not in RHSA: 90%; In RHSA: not applicable Cap Increases Kaiser plan A 2-party premium: Medical trend Active medical cap - Minimum of: Healthnet PPO
Family Premium (Increase with Medical Trend);
1% (for ALE hired between 1/1/06 and 12/31/16)
of budgeted monthly salary (increased with payroll
increase rate)Actuarial Assumptions:

Discount Rate 6.25%
Salary Increase Aggregate:-2.75% annually
Merit- CalPERS 2000-2019 Experience Study
Inflation 2.50%
Investment Rate of Return 6.25%
Mortality , Retirement, Disability, Termination CalPERS 2000-2019 Experience Study Mortality Improvement Mortality projected fully generational with Scale MP-2021 Discount Rate
The discount rates used to measure the total OPEB liability were 6.25%. 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 future benefit payments of current plan members. 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.

EXHIBIT A
164
82 City of Livermore
Notes to Financial Statements
June 30, 2024
Sensitivity of the Net OPEB Liability to Changes in the Discount Rate The following table presents the net OPEB liability of the City as of June 30, 2024, calculated using the discount rate of 6.25%, as well as what the Plan’s net OPEB liability would be if it were calculated using a discount rate that is 1- percentage-point lower or 1-percentage point higher than the current rate:
1% Decrease Current 1% Increase
-5.25% -6.25% -7.25%
Net OPEB Liability 39,301,774$ 30,294,436$ 22,743,273$ Discount Rate
Sensitivity of the Net OPEB Liability to Changes in the Healthcare Cost Trend Rates 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:
1% Decrease Current 1% Increase
Net OPEB Liability 26,300,853$ 30,294,436$ 33,831,050$ Healthcare Trend Rate
OPEB Expenses and Deferred Outflows/Inflows of Resources Related to OPEB For the year ended June 30, 2024, the City recognized OPEB credit of $2,174,486. As of fiscal year, ended June 30, 2024, the City reported deferred outflows and inflows of resources related to OPEB from the following sources:

Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between actual and expected experience -$ (5,224,828)$ Changes in assumptions 472,714 -
Net differences between projected and actual earnings on plan investments* 815,363 -
Employer contribution made subsequent to the
measurement date 4,406,083 -
Total 5,694,160$ (5,224,828)$
The difference between projected OPEB plan investment earnings and actual earnings is amortized over a five-year period. The remaining gains and losses are amortized over the expected average remaining service life.

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165
83 City of Livermore
Notes to Financial Statements
June 30, 2024
Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized as future OPEB expense as follows:

Deferred
Year Ended Outflows/(inflows)
June 30 od Resources
0 (4,266,696)$
1 (692,457)
2 1,361,693
3 (339,291)
(3,936,751)$
Payable to OPEB Plan
The City did not report any payables for the outstanding amount of contributions to the OPEB plan required for the year ended June 30, 2024. The net OPEB liability will be liquidated primarily from the general fund, approximately 80%, with the remaining amounts from the Airport, Water, Sewer, Stormwater, and internal service funds.

Note 13 - Deferred Compensation Plan
City employees may defer a portion of their compensation under a City sponsored Deferred Compensation Plan created in accordance with Internal Revenue Code Section 457. Under this plan, participants are not taxed on the deferred portion of their compensation until distributed to them; distributions may be made only at termination, retirement, death or in an emergency as defined by the plan.

The laws governing deferred compensation plan assets require plan assets to be held by a Trust for the exclusive benefit of plan participants and their beneficiaries. Since the assets held under these plans are not the City’s property and are not subject to City control, they have been excluded from these financial statements.

Note 14 - Joint Ventures
The City participates in the joint venture activities described below through formally organized and separate entities established under the Joint Exercise of Powers Act of the State of California. As separate legal entities, these organizations exercise full powers and authorities within the scope of the related Joint Powers Agreements including the preparation of annual budgets, accountability for all funds, the power to make and execute contracts and the right to sue and be sued. Each joint venture is governed by a board consisting of representatives from member municipalities. Each board controls the operations of the respective joint venture, including selection of management and approval of operating budgets, independent of any influence by member municipalities beyond their representation on the Board. Assets and liabilities of the separate entities are not those of the City. The City’s sole financial responsibility is to fund annual contributions to each entity which are used along with other member contributions to finance each joint venture’s annual operations.

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166
84 City of Livermore
Notes to Financial Statements
June 30, 2024
Livermore-Amador Valley Water Management Agency (LAVWMA) Livermore-Amador Valley Water Management Agency (LAVWMA) was formed in 1974. LAVWMA operates the export pipeline connecting with the East Bay Discharges Authority’s systems and discharges treated wastewater into San Francisco Bay. The current members of the Agency are Dublin San Ramon Services District, City of Livermore, and City of Pleasanton. Sewer revenue bonds issued by LAVWMA are being repaid with user charges assessed to member agencies.

The City accounts for its investment in LAVWMA by the equity method in the Sewer Enterprise Fund. The City records its share of earnings (losses) in the Proprietary Funds Statement of Revenues, Expenses and Changes in Net Position as "Change in value in investment in JPA - LAVWMA," and the carrying value of the City's investment in LAVWMA is recorded in the Proprietary Funds Statement of Net Position as "Investment in JPA - LAVWMA." On August 1, 2011, LAVWMA issued $105,345,000 principal amount of 2011 Sewer Revenue Refunding Bonds.

Proceeds of the issuance were used to refund and retire the Series A Sewer Revenue Bonds and to pay costs of issuance. Under an Amended and Restated Sewer Service Contract dated October 1, 2011 between LAVWMA and the Members, the Members pledged and created, in favor of LAVWMA and the Trustee for the 2011 Bonds, a lien on the Net Revenues of their respective wastewater systems to pay to LAVWMA the amounts owed in order for LAVWMA to pay the debt service on the 2011 bonds. The City’s share is 27.83% of the total debt service. The City’s equity interest in LAVWMA was $25,281,621 as of June 30, 2024. Financial statements for LAVWMA may be obtained from DSRSD at 7051 Dublin Boulevard, Dublin, California 94568.

Livermore-Amador Valley Transit Authority (LAVTA)
This Authority was formed in May 1985 by a joint exercise of powers agreement between the County of Alameda and the Cities of Livermore, Pleasanton, and Dublin for the purpose of providing general public transportation under the business name "Wheels". Financial statements may be obtained from LAVTA, 1362 Rutan Court, Suite 100, Livermore, CA 94551.

Tri-Valley Transportation Council (TVTC)
The Tri-Valley Transportation Council was formed in 1991 by a joint exercise of powers agreement between the cities of Dublin, Livermore, Pleasanton, and San Ramon, the Town of Danville and the Counties of Alameda and Contra Costa for the purposes of preparing a transportation plan and providing transportation facilities within the Tri-Valley area.

Financial statements may be obtained from Franklin Management Systems, Inc., Attn: Mr. Jack Harrington, 3037 Hopyard Road, Suite M, Pleasanton, CA 94588.

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167
85 City of Livermore
Notes to Financial Statements
June 30, 2024
Livermore - Pleasanton Fire Department Joint Powers Agreement (LPFD) On December 3, 1996, the cities of Livermore and Pleasanton signed a joint powers agreement to form a joint Fire Department covering both cities. The LPFD may own physical assets and can enter into contracts with the approval of the governing board, where applicable. Fire protection services are provided by the City of Pleasanton employees under the joint power agreement. The LPFD prepares its budget including contributions required from each City to fund operating and capital needs for the year. In January 2013, the City of Livermore began functioning as Treasurer for LPFD. The City of Livermore has 50% equity share (or deficit, when applicable) in LPFD and share all the costs at approximately 50%. The deficit net position of the LPFD is reported on the governmental activities statement of net position because the City has an ongoing financial responsibility. During the year ended June 30, 2024, the City contributed $24,597,695 to LPFD representing its share of costs. The City’s deficit interest in LPFD was $41,351,423 as of June 30, 2024, based on LPFD audited financial statements for the fiscal year ended June 30, 2024. Financial statements for LPFD may be obtained from the City of Livermore at 1052 South Livermore Avenue, Livermore, California 94550.

California Public Finance Authority (CalPFA)
California Public Finance Authority (CalPFA) is a political subdivision of the State of California established under the Joint Exercise of Powers Act for the purpose of issuing tax-exempt and taxable conduit bonds for public and private entities throughout California. CalPFA is empowered to promote economic, cultural, and community development opportunities that create temporary and permanent jobs, affordable housing, community infrastructure and improve the overall quality of life in local communities.

The City joined a Joint Exercise of Powers Agreement with CalPFA to issue bonds or other debt that constitute “qualified residential rental project bonds” under Section 142 (a)(7) and Section 142 (d) of the Internal Revenue Code in an amount not-to-exceed $55,000,000 for the purpose of financing or refinancing the acquisition and construction of Ageno Apartments. CalPFA is responsible for all the reporting and monitoring components and the City has no post issuance obligations. The City’s name does not appear on any legal documents. Since the JPA is a separate legal entity, the City has no liability exposure. Additionally, the City has no ongoing obligation to the JPA, unless the City wishes to issue bonds for another development project through the JPA.

Financial statements may be obtained from the California Public Finance Authority website, http://www.calpfa.org/general-information/audits-transaction-reports or from California Public Finance Authority, 2999 Oak Road Suite 710, Walnut Creek, CA 94597.

East Bay Community Energy (EBCE)
This authority formed in October 2016 by a joint exercise of power agreement between the County of Alameda and the Cities of Livermore, Pleasanton, and Dublin for the purpose of purchasing energy on a community-wide basis by pooling the buying power of the individuals within their jurisdictions. Involvement in the JPA gives opportunities to the City for gaining greater local involvement over the provision of electricity supply services, competitive electric rates, the development of local renewable energy projects, reduced greenhouse gas emissions, and the wider implementation of energy conservation and efficiency projects and programs.

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168
86 City of Livermore
Notes to Financial Statements
June 30, 2024
Stopwaste
This authority formed in 1976 by a joint exercise of power agreement between the County of Alameda, all fourteen cities located within the County along with two sanitary districts for the purpose of reducing waste in Alameda County.

A representative from each Member Agency serves on the Alameda County Waste Management Authority Board. The Alameda County Waste Management Authority provides solid waste planning, projects and initiatives to increase recycling and reduce waste by residents, businesses and schools. Funding is provided by waste-related fees. Some projects for reduction of waste include the Green Building in Alameda County program, curbside residential food scrap recycling and the reusable bag ordinance. These programs have reduced construction waste, increased use of recycled building materials, produced food scrap composting and reduced the number of plastic bags in the County landfills.

For more information visit www.stopwaste.org.

Note 15 - General Liability and Workers Compensation Coverage Risk Management
The City of Livermore is self-insured for general liability claims up to a self-insured retention (SIR) of $750,000 per occurrence. It is a member of California Joint Powers Risk Management Authority (CJPRMA), an excess insurance pool that provides coverage for each occurrence that exceeds the SIR. CJPRMA provides coverage up to $40,000,000 per occurrence. The first $7,500,000 layer is retained by CJPRMA and the subsequent seven layers totaling $32,500,000 are covered by reinsurance, purchased through their broker of record, Alliant. The City of Livermore contributed $1,512,794 to CJPRMA for liability coverage for the fiscal year ending June 30, 2024. The City of Livermore purchases a variety of insurance products from Aon, both through the CJPRMA pooled programs and directly. The City paid $353,716 directly to Aon, $808,688 to Alliant through CJPRMA for property insurance, and $102,710 for auto physical damage insurance to Alliant through CJPRMA.

The Local Agency Workers Compensation Excess Joint Powers Authority (LAWCX) covers workers compensation up to statutory limits. The City has a deductible or uninsured liability of up to $500,000 per claim. During the fiscal year ended June 30, 2024, the City contributed $554,192 for program year coverage.

Each risk pool is governed by a Board consisting of representatives from member municipalities. The Board controls the operations of each risk pool, including selection of management and approval of operating budgets, independent of any influence by member municipalities beyond their representation on the Board. The City's contribution to each risk pool equals the ratio of the City's payroll to the total payrolls of all entities participating in the same layer of each program, in each program year. Actual surpluses or losses are shared according to a formula developed from overall loss costs and spread to member entities on a percentage basis after a retrospective rating. CJPRMA’s financial statements may be obtained by contacting CJPRMA at (925) 837-0667. LAWCX’s financial statements may be obtained by contacting LAWCX at (800) 541-4591.

EXHIBIT A
169
87 City of Livermore
Notes to Financial Statements
June 30, 2024
Liability for Uninsured Claims
The City’s liability for the uninsured portion of claims, including a provision for claims incurred but not reported, was computed as follows based on claims experience:

Liability Insurance
Reserve
Workers’
Compensation Total
Balances of claims payable at June 30, 2023 4,384,528$ 5,243,669$ 9,628,197$ Incurred claims and change in estimated 768,391 1,447,718 2,216,109 Claims paid (713,540) (1,303,504) (2,017,044)
Balances of claims payable at June 30, 2024 4,439,379$ 5,387,883$ 9,827,262$ Claims payable - current 1,650,000$ 1,266,000$ 2,916,000$ Note 16 - Economic Development Incentives – Tax Abatements The City offers economic development incentive program to the entities that propose to locate or expand already established businesses within the City. This incentive program is expected to provide a stimulus to the City's economy, increase the tax base and create jobs. Each of the agreements entered into by the City, provides for a rebate of taxes paid to the City according to formulas contained in the agreements. These limited terms agreements provide for a sharing of the taxes (percentage rebates) above certain amounts with a maximum rebate not to exceed the cost of a business’ improvements and/or development impact fees. The City generally expects to receive increased revenue as a result of these agreements. These incentive agreements require approval by City Council.

For financial reporting purposes, the GASB Statement No. 77 defines a tax abatement as resulting from an agreement between a government and an individual or entity in which the government promises to forgo tax revenues and the individual or entity promises to subsequently take a specific action that contributes to economic development or otherwise benefits the government or its citizens. According to the GASB 77, the substance of these agreements meets the definition of “tax abatements” as the revenues received were not available for general municipal services purposes, but rather used to effectively reduce the net tax liability of certain taxpayers per the conditions of an agreement.

The taxes paid to the City are included in the revenue reported in these financial statements. The payments made to the businesses based upon the taxes paid are also included as expenditures in these financial statements. For the fiscal year ended June 30, 2024, under this program the City has abatements of sales tax totaling $1,050,028.

Pursuant to the Sales and Use Tax law (chapter 8 – Article 1 – section 7056), in order to protect the confidential information of sales taxes collected and abatements provided to each of the specific agencies, the City has presented the aggregate amount abated during the current fiscal year.

EXHIBIT A
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88 City of Livermore
Notes to Financial Statements
June 30, 2024
Note 17 - Commitments and Contingencies
The City is subject to litigation arising in the normal course of business. In the opinion of the City Attorney there is no pending litigation which is likely to have a material adverse effect on the financial position of the City.

The City participates in several Federal and State grant programs. These programs have been audited by the City's independent accountants in accordance with the provisions of the Federal Single Audit Act amendments of 1996 and applicable State requirements. No cost disallowances were 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.

Construction Commitments
The City has the following outstanding construction commitments at June 30, 2024:

Amount Remaining (as of
Vendor June 30, 2024) Project(s) Name
A Teichert & Son 4,178,975$ Street Resurfacing 2022; Sidewalk Repair 2023; ADA Access Ramps 2020-21 Mountain Cascade Inc. 5,852,500 WRP UV Treatment System Replacement Redgwick Construction Company 639,825 Railroad Avenue Street Improvements Environmental Systems Inc. 218,153 City Hall HVAC and Central Plant Chiller Replacement C Overaa & Company 5,993,913 WRP Primary & Secondary Treatment Improvements Zovich & Sons, Inc. 16,354,820 Livermore Village L Street Garage 33,238,186$
There were no outstanding encumbrances related to these commitments on June 30, 2024.

EXHIBIT A
171
89 City of Livermore
Notes to Financial Statements
June 30, 2024
Animal Shelter
The Cities of Dublin, Pleasanton, and Livermore and the County of Alameda reached an agreement under which Alameda County constructed an animal shelter facility on County property. Under the agreement the entities share in the debt service and operating costs of the project based on their use of the animal shelter. The City of Livermore paid $340,678 for its share of debt service and operating costs. The City’s portion of the project fluctuates based on actual usage and was 20% as of June 30, 2024.

Alameda County
During fiscal year 2014-15, Alameda County made a $2.8 million contribution necessary to affect the redemption and retirement of the 2006 Bankhead Theater bond and prepayment of 2006 loan and issuance of 2014 COP Series A. The City is obliged to return $2.8 million to Alameda County in the event the Bankhead Theater is sold. At present, the City does not have any intentions of selling the Theater.

Note 18 - Successor Agency Activities
The City of Livermore opted to become the Livermore Successor Agency to the former Redevelopment Agency of Livermore as of January 9, 2012. Since February 1, 2012, the date of dissolution, the housing related assets and activities of the dissolved redevelopment agency are reported in the governmental Housing Successor Special Revenue Fund. The non-housing related assets and activities of the dissolved redevelopment agency are reported in the fiduciary Successor Agency to the Redevelopment Agency Private Purpose Trust Fund whose activities are subject to review and approval of the Oversight Board.

Long-Term Debt
The Successor Agency assumed the long-term debt of the Redevelopment Agency as of February 1, 2012. On August 1, 2001, the Redevelopment Agency issued $36,775,000 of 2001 Tax Allocation Bonds, Series A. Proceeds were used to refund the above outstanding Livermore Redevelopment Project 1986 Tax Allocation Bonds Series A, and to provide funds to finance various redevelopment activities within the Project Area.

Post Dissolution Assembly Bill 1484 permits the refunding of outstanding bonds of former redevelopment agencies if the total debt service (principal and interest) on the new refunding bonds is less than the total remaining debt service on the bonds being refunded (currently outstanding). The purpose for refunding redevelopment bonds is to reduce the interest rate, which lowers the annual tax increment required to make debt payments and increases the share of tax increment available to affected taxing entities.

EXHIBIT A
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90 City of Livermore
Notes to Financial Statements
June 30, 2024
In December 2016, the Successor Agency refinanced the 2001 Tax Allocation Bonds, Series A and issued two refunding bonds, 2016 Tax Allocation Refunding Bonds, Series A (tax exempt) and Series B (taxable). The refinancing of this debt did not extend the August 1, 2032 final maturity date or provide additional proceeds for projects; however, the anticipated present value savings are more than $300,000 annually or approximately $4.9 million over the life of the refunding issue. The future annual debt savings will allow more funds to flow to the affected taxing entities, including the City. The table below presents the detail of activities during current fiscal year.

Balance at Balance at Amount due
June 30, 2023 Retirements June 30, 2024 in one year
Fiduciary Activities
2016 Tax AllocationRefunding Bonds, 3.00%-5.00%, 2032 15,780,000$ (1,485,000)$ 14,295,000$ 1,550,000$ Unamortized Premium 747,768 (92,489) 655,279 92,489 Total debt 16,527,768$ (1,577,489)$ 14,950,279$ 1,642,489$ Semiannual debt service payments are due August 1 and February 1 and are repayable from tax increment revenues of the Redevelopment Agency Project Area. Annual debt service requirements combined are shown below:

For the Year
Ending June 30 Principal Interest Total
2025 1,550,000$ 480,219$ 2,030,219$
2026 1,630,000 400,719 2,030,719
2027 1,715,000 334,244 2,049,244
2028 1,765,000 282,044 2,047,044
2029 1,815,000 226,075 2,041,075
2030-2032 5,820,000 303,947 6,123,947
Total 14,295,000 2,027,248$ 16,322,248$
Unamortized Premium 655,279
Total Debt 14,950,279$

EXHIBIT A
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91 City of Livermore
Notes to Financial Statements
June 30, 2024
Commitments and Contingencies
The City and former Agency have entered into a variety of development agreements with third parties to provide needed improvements and projects. Activities under agreements for which there are continuing commitments are disclosed in the following paragraphs. Additionally, the City and Agency have other agreements that entitle them to collect certain loans or notes receivable which are disclosed in Note 5.

Last and Final Recognized Obligation Payment Schedule (LFROPs) In September 2018, the State Department of Finance (DOF) approved the Successor Agency’s Last and Final Recognized Obligation Payment Schedule (LFROP). The Successor Agency will continue to receive property tax increment revenue to pay items listed on the LFROPs, without any objections by the DOF, until all obligations are paid off.

Loans between the LSA and the City
The Successor Agency paid off the remainder of the SERAF loan this year.

Note 19 - Restatement due to Change in Accounting Principle and Correction of an Error Correction of Error in Previously Issued Financial Statements During fiscal year 2024, the City determined that there were certain errors in amounts previously reported in the 2023 financial statements resulting in a restatement of the beginning net position and fund balance. The corrections relates to understated and in some instances overstated loans receivables. The effect of this correction is shown in under the line captioned as Loans Receivables. The loans receivable restatement had no impact on the change in net position or the change in fund balance of the prior year.

Change within the Reporting Entity
In addition, during fiscal year 2023-2024, there was a change within the financial reporting entity which resulted in the 2022 COPS Construction Capital Projects Fund being reported as a non-major governmental fund instead of a major governmental fund.

Change in Accounting Principle
The City changed its beginning and ending measurement dates of its net OPEB liability from June 30, 2023 and June 30, 2024, respectively, to June 30, 2022 and June 30, 2023 and therefore the City restated its beginning net position of its Governmental Activities, Business-Type activities the Airport, the Water, the Sewer, the Stormwater and the Internal Service funds as of July 1. The change in measurement date is preferable as the timing of issuance of audit reports from the plan administrator under the previous measurement date could result in delays in or untimely filing of the City audit. The OPEB expense amount reported on the financial statements in the fiscal year ended June 30, 2023 would have increased by $1,215,359, $218,341, $25,648, $40,011, $146,250, $6,432, $77,840, in the governmental activities, the business-type activities, the Airport fund, the Water fund, the Sewer fund, the Stormwater fund and the internal service fund, respectively, as a result of the change in the measurement date.

EXHIBIT A
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92 City of Livermore
Notes to Financial Statements
June 30, 2024
The beginning net position and fund balance was restated, per the above, as follows:

Housing Housing &
Low Income Successor Community
Governmental Business-Type Housing-Special Agency Assitance Activities Activities Revenue Fund Fund* Fund*
Net Position/Fund Balance - Beginning 434,460,421$ 268,400,036$ 44,457,151$ 6,972,269$ 2,059,255$ Error Correction - Notes receivable (6,493,342) - (4,657,192) 1,802,143 (204,064) Change in Accounting Principle - Net OPEB Liability (10,796,111) (1,822,794) - - - Change in Accounting Principle - Deferred Inflows of Resources 5,847,302 987,247 - - - Change in Accounting Principle - Deferred Outflows of Resources 3,655,608 617,206 - - - Net Position/Fund Balance - Beginning as Restated 426,673,878$ 268,181,695$ 39,799,959$ 8,774,412$ 1,855,191$ Other Other Local, 2022 COPS2022 COPSNon-Major
Impact State & Federal Construction CapitalConstruction CapitalGovernmental Fees* Grants* Projects Fund*Projects Fund*Funds
Net Position/Fund Balance - Beginning 2,801,661$ 7,123,367$ 34,108,216$ 112,088,867$ Error Correction - Notes receivable (1,620,135) (1,814,094) - (1,836,150) Change to or within the financial reporting entity - - (34,108,216) 34,108,216 Net Position/Fund Balance - Beginning as Restated 1,181,526$ 5,309,273$ -$ 144,360,933$ * Presented as a nonmajor fund on the financial statements Governmental
Activities-
Internal Service
Airport Water Sewer Stormwater Funds
Net Position/Fund Balance - Beginning 22,449,941$ 59,553,791$ 155,895,322$ 31,367,277$ 23,635,024$ Change in Accounting Principle - Net OPEB Liability (214,117) (334,028) (1,220,953) (53,696) (649,846) Change in Accounting Principle - Deferred Inflows of Resources 115,968 180,914 661,283 29,082 351,964 Change in Accounting Principle - Deferred Outflows of Resources 72,501 113,103 413,420 18,182 220,040 Net Position/Fund Balance - Beginning as Restated 22,424,293$ 59,513,780$ 155,749,072$ 31,360,845$ 23,557,182$ Business-Type Activities-Enterprise Funds

EXHIBIT A
175
Required Supplementary Information
June 30, 2024
City of Livermore

EXHIBIT A
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EXHIBIT A
177
93 City of Livermore
Notes to Required Supplementary Information
Fiscal Year Ended June 30, 2024
Note 1 - Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget to Actual The Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget to Actual presents the comparison of actual balances with the balances budgeted for revenues, expenses, and transfers. This schedule is presented for General Fund, Low Income Housing Special Revenue Fund and Housing Successor Special Revenue Fund.

The City’s funds are required to adopt an annual budget prepared on a basis generally consistent with Generally Accepted Accounting Principles (GAAP).

Note 2 - Agent Multiple-Employer Defined Benefit Pension Plan (Miscellaneous Plan):

Schedule of Changes in the Net Pension Liability and Related Ratios This schedule reports the beginning and ending balances of the total pension liability, the plan assets available for pension benefits (called plan net position), and the net pension liability, as well as the change in those amounts during the year presented by cause (similar to the note disclosure). It also reports the total pension liability, plan net position, net pension liability, a ratio of plan net position divided by the total pension liability, the payroll amount for current employees in the plan (covered-employee payroll), and a ratio of the net pension liability divided by covered payroll.

Schedule of Contributions
This schedule reports the agent multiple-employer’s contributions to the plan which are actuarially determined, the employer’s actual contributions, the difference between the actual and actuarially determined contributions, and a ratio of the actual contributions divided by covered payroll.

Note 3 - Cost-Sharing Employer Defined Benefit Pension Plan (Safety Plan) Schedule of Proportionate Share of the Net Pension Liability This schedule reports the proportion (percentage) of the collective net pension liability, the proportionate share (amount) of the collective net pension liability, the employer’s covered employee payroll, the proportionate share (amount of the collective net pension liability as a percentage of the employer’s covered employee payroll and the pension plan’s fiduciary net position as a percentage of the total pension liability.

Schedule of Contributions
This schedule reports the cost sharing employer’s contributions to the plan which are actuarially determined, the employer’s actual contributions, the difference between the actual and actuarially determined contributions.

EXHIBIT A
178
94 City of Livermore
Notes to Required Supplementary Information
Fiscal Year Ended June 30, 2024
Note 4 - Other Post-Employment Benefits
Schedule of Changes in the City’s Net OPEB Liability and Related Ratios This schedule presents information about the components of the net OPEB liability and related ratios, including the OPEB plan’s fiduciary net position as a percentage of the total OPEB liability, and the net OPEB liability as a percentage of covered-employee payroll.

Schedule of Contributions
This schedule reports the City’s contributions to the plan which are actuarially determined, the employer’s actual contributions, the difference between the actual and actuarially determined contributions, and a ratio of the actual contributions divided by covered-employee payroll.

EXHIBIT A
179
See Notes to Required Supplementary Information 95
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – General Fund Fiscal Year Ended June 30, 2024
Variance
Budgeted Amounts Final Budget
Actual Amounts Positive
Original Final Budgetary Basis (Negative)

REVENUES
Property taxes 46,618,856$ 46,618,856$ 46,585,299$ (33,557)$ Sales taxes 40,838,113 40,838,113 39,562,251 (1,275,862) Other taxes 22,403,500 22,403,500 21,766,940 (636,560) Licenses and permits 3,503,000 3,503,000 3,361,835 (141,165) Intergovernmental 12,902,236 12,952,466 13,494,977 542,511 Contributions from outside sources - - 72,038 72,038
Fines and forfeitures 370,000 370,000 345,344 (24,656)
Charges for current services 8,228,131 8,228,131 9,390,184 1,162,053 Use of money and property 5,778,381 5,778,381 10,395,458 4,617,077 Miscellaneous 528,500 528,500 565,502 37,002
Total Revenues 141,170,717 141,220,947 145,539,828 4,318,881

EXPENDITURES
Current:

General Government:

City Council 183,987 183,987 149,199 34,788
City Manager 2,710,742 3,088,332 2,599,416 488,916 City Attorney 2,484,810 2,515,807 2,373,224 142,583 Administrative Services 8,375,380 8,561,271 7,519,467 1,041,804 General Services 3,274,834 3,374,834 3,331,579 43,255 Fire 27,819,126 27,819,126 28,049,428 (230,302) Police 46,175,001 46,776,731 43,538,187 3,238,544 Public Works 10,083,776 10,106,672 8,703,713 1,402,959 Community Development 20,253,814 21,012,021 16,832,592 4,179,429 Economic Development 3,103,334 3,119,531 2,686,915 432,616 Library 6,910,291 6,989,338 6,762,032 227,306 Capital Outlay 1,898,000 2,269,000 321,392 1,947,608 Debt service:

Principal - - 763,280 (763,280)
Interest and fiscal charges - - 18,800 (18,800)
Total Expenditurs 133,273,095 135,816,650 123,649,224 12,167,426

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 7,897,622 5,404,297 21,890,604 16,486,307

OTHER FINANCING SOURCES (USES)
Transfers in 1,970,706 1,970,706 737,455 (1,233,251) Transfers (out) (14,373,000) (14,373,000) (14,507,398) (14,507,398) Total Other Financing Sources (Uses) 1,970,706 1,970,706 (13,769,943) (15,740,649) Net change in fund balance 9,868,328 7,375,003 8,120,661 745,658$ Fund balance-beginning 83,929,752 83,929,752 83,929,752 Fund balance-ending 93,798,080$ 91,304,755$ 92,050,413$

GENERAL FUND

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2024

EXHIBIT A
180
See Notes to Required Supplementary Information 96
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Low Income Housing Special Revenue Fund
Fiscal Year Ended June 30, 2024
Variance
Positive
Budget Actual (Negative)

REVENUES
Contributions from outside sources -$ 715$ 715$
Charges for services 400,000 4,803,807 4,403,807 Use of money and property 129,737 584,309 454,572
Miscellaneous 100,000 546,118 446,118
Total Revenues 629,737 5,934,949 5,305,212

EXPENDITURES
Current:

Community Development 3,703,916 1,192,923 2,510,993 Capital Outlay: 350,000 - 350,000
Total Expenditures 4,053,916 1,192,923 2,860,993

EXCESS (DEFICIENCY) OF REVENUE
OVER EXPENDITURES (3,424,179) 4,742,026 8,166,205

OTHER FINANCING SOURCES (USES)
Transfers (out) (592,000) (257,012) 334,988 Total Other Financing Sources (Uses) (592,000) (257,012) 334,988 Net change in fund balance (4,016,179)$ 4,485,014 8,501,193$ Fund balances - beginning, as restated 39,799,959
Fund balances - ending 44,284,973$

LOW INCOME HOUSING SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2023

EXHIBIT A
181
See Notes to Required Supplementary Information 97
City of Livermore
Schedule of Changes in the Net Pension Liability and Related Ratios – Miscellaneous Plan Last Ten Fiscal Years
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Pension Liability3
Service Cost 4,972,951$ 4,537,193$ 4,562,441$ 5,221,025$ 5,353,724$ 5,434,229$ 5,542,184$ 5,758,510$ 6,196,254$ 5,928,894$ Interest on total pension liability 16,548,323 17,148,686 18,070,523 18,672,998 19,302,859 20,616,830 21,754,166 22,490,655 23,169,756 24,292,885 Changes in assumptions4 - (4,175,908) - 15,364,082 (2,304,595) - - - 10,174,287 326,411 Differences between expected and actual experience - (3,477,134) 1,428,415 (1,649,050) (921,100) 6,244,408 3,404,399 (2,611,847) (1,740,186) 3,767,894 Benefit payments, including refunds of employee contributions (9,745,631) (10,512,026) (11,641,525) (11,823,392) (12,027,431) (13,100,635) (14,104,669) (14,879,565) (16,446,814) (17,651,962) Net change in total pension liability 11,775,643 3,520,811 12,419,854 25,785,663 9,403,457 19,194,832 16,596,080 10,757,753 21,353,297 16,664,122 Total pension liability - beginning 223,030,646 234,806,289 238,327,100 250,746,954 276,532,617 285,936,074 305,130,906 321,726,986 332,484,739 353,838,036 Total pension liability - ending (a) 234,806,289$ 238,327,100$ 250,746,954$ 276,532,617$ 285,936,074$ 305,130,906$ 321,726,986$ 332,484,739$ 353,838,036$ 370,502,158$ Plan fiduciary net position
Contributions - employer 5,315,795$ 5,509,908$ 6,359,536$ 7,245,912$ 7,671,730$ 8,682,861$ 9,778,161$ 10,678,645$ 11,735,625$ 12,350,716$ Contributions - employee 2,148,997 1,995,107 2,089,854 2,145,822 2,298,455 2,383,496 2,349,388 2,345,433 2,310,862 2,339,012 Net investment income 26,647,212 3,984,421 936,187 19,644,077 16,437,015 13,686,966 10,900,291 51,699,700 (20,990,725) 15,725,328 Benefit payments (9,745,631) (10,512,026) (11,641,525) (11,823,392) (12,027,431) (13,100,635) (14,104,669) (14,879,565) (16,446,814) (17,651,962) Net plan to plan resource movement - - - - (481) - - - - - Administrative expense - (201,583) (109,139) (260,907) (301,784) (147,841) (308,279) (227,049) (172,497) (186,297) Other miscellaneous income/(expense) - - - - (573,094) 481 - - - - Net change in plan fiduciary net position 24,366,373 775,827 (2,365,087) 16,951,512 13,504,410 11,505,328 8,614,892 49,617,164 (23,563,549) 12,576,797 Total fiduciary net position - beginning 153,937,012 178,303,385 179,079,212 176,714,125 193,665,637 207,170,047 218,675,375 227,290,267 276,907,431 253,343,882 Total fiduciary net position - ending (b) 178,303,385$ 179,079,212$ 176,714,125$ 193,665,637$ 207,170,047$ 218,675,375$ 227,290,267$ 276,907,431$ 253,343,882$ 265,920,679$ Net pension liability - ending (a) - (b) 56,502,904$ 59,247,888$ 74,032,829$ 82,866,980$ 78,766,027$ 86,455,531$ 94,436,719$ 55,577,308$ 100,494,154$ 104,581,479$ Fiscal Year Ended 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 6/30/2022 6/30/2023 6/30/2024 Plan fiduciary net position as a percentage of the
total pension liability 75.94% 75.14% 70.48% 70.03% 72.45% 71.67% 70.65% 83.28% 71.60% 71.77% Covered payroll 5 25,934,554$ 24,958,429$ 25,849,521$ 26,984,829$ 27,914,510$ 29,985,230$ 30,451,705$ 30,835,078$ 36,952,443$ 31,421,164$ Net pension liability as percentage of covered payroll 217.87% 237.39% 286.40% 307.09% 282.17% 288.33% 310.12% 180.24% 271.96% 332.84% Notes to Schedule
1 All Tiers of the Miscellaneous plan were combined on GASB 68 report by CalPERS. 3 Benefit changes: The figures above do not include any liability impact that may have resulted from plan changes which occurred after the June 30, 2017 valuation date.

This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes). 4 Changes in assumptions: Discount rates 7.50% 7.65% 7.65% 7.15% 7.15% 7.15% 7.15% 7.15% 6.90% 6.90% 5 Includes one year’s payroll growth using 2.75 percent payroll growth assumption for fiscal years ended June 30, 2018‐20; 3.00 percent payroll growth assumption for fiscal years ended June 30, 2014‐17. 2 This schedule is intended to show information for 10 years. Information in this schedule is not available prior to 2014. Additional years will be added to this schedule in future fiscal years until 10 years of data is presented.

SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS Miscellaneous Plan1
An Agent Multiple-Employer Defined Benefit Pension Plan Last 10 Years2
Measurement period ended June 30,

EXHIBIT A
182
See Notes to Required Supplementary Information 98
City of Livermore
Schedule of the Plan’s Proportionate Share of the Net Pension Liability and Related Ratios as of the Measurement Date – Safety Police Plan Last Ten Fiscal Years
Proportionate
share of the net Plan's proportionate
penion share of the fiduciary
Liability/(assets) net position as a
Measurement Proportion Proportionate as a percentage percentage of the period ended of the net share of the net Plan's covered of its plan's total pension Fiscal Year June 30, pension liability pension liability payroll 1 covered payroll liability ended June 30, 2015 0.62029% 25,558,797$ 9,776,879$ 261.42% 79.04% 2016 2016 0.63978% 33,135,364 10,332,152 320.70% 74.13% 2017 2017 0.64020% 38,253,169 10,874,918 351.76% 73.15% 2018 2018 0.66102% 38,785,811 11,599,156 334.38% 74.09% 2019 2019 0.67581% 42,187,668 12,310,910 342.69% 74.04% 2020 2020 0.69837% 46,528,122 13,023,674 357.26% 72.96% 2021 2021 0.79545% 27,916,195 12,779,176 218.45% 86.61% 2022 2022 0.79683% 54,723,769 12,987,878 421.34% 75.52% 2023 2023 0.79476% 59,408,142 13,844,914 429.10% 74.87% 2024 1 With the implementation of GASB 82, Covered Payroll is defined as the actual payroll on which contributions to a pension plan are based.

SCHEDULE OF THE PLAN'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY AND RELATED RATIOS AS OF THE MEASUREMENT DATE Safety Police Plan
A Cost Sharing Defined Benefit Pension Plan
Last 10 Years

EXHIBIT A
183
See Notes to Required Supplementary Information 99
City of Livermore
Schedule of Contributions – Miscellaneous Plan
Last Ten Fiscal Years*
Contributions in
relation to the
Fiscal year Actuarially actuarially Contributions Contributions as a ended determined determined deficiency Covered percentage of June 30, contributions contributions (excess) payroll covered payroll 2015 3 5,509,908$ (5,509,908)$ -$ 24,958,429$ 22.08% 2016 3 6,359,536 (6,359,536) - 25,849,521 24.60%
2017 3 7,245,912 (7,245,912) - 26,984,829 26.85%
2018 3 7,671,730 (7,671,730) - 27,914,510 27.48%
2019 3 8,878,238 (8,878,238) - 29,985,230 29.61%
2020 2 10,004,357 (10,004,357) - 30,451,705 32.85%
2021 2 10,927,202 (10,927,202) - 30,835,078 35.44%
2022 2 11,735,625 (11,735,625) - 36,952,443 31.76%
2023 2 12,350,716 (12,350,716) - 31,421,164 39.31%
2024 2 11,614,698 (11,614,698) - 39,300,098 29.55%
Entry age normal
Level percentage of payroll
Market value of assets

2.500%
Varies by Entry Age and Service

2.750%

6.90%, net of pension plan investment expense, including inflation. 50 years
Benefit changes: None
Changes in assumptions: None
1 All Tiers of the Miscellaneous plan were combined on GASB 68 report by CalPERS. 2 As prescribed in GASB 68, paragraph 46, the information presented is from the most recent year 3 Fiscal years noted in this table match with the fiscal years presented in the GASB 68 actuarial valuation report Retirement age
Mortality The probabilities of mortality are based on the 2017 CalPERS Experience Study for the period Salary increases
Payroll growth
Investment rate of return
Inflation
Methods and assumptions used to determine
Actuarial cost method
Amortization method
Amortization period

SCHEDULE OF CONTRIBUTIONS
Miscellaneous Plan1
An Agent Multiple-Employer Defined Benefit Pension Plan A fixed 30-year period with the increases or decreases in the rate spread directly over a 5-year Asset valuation method
Last 10 Years
Notes to Schedule

EXHIBIT A
184
See Notes to Required Supplementary Information 100
City of Livermore
Schedule of Contributions – Safety Police Plan
Last Ten Fiscal Years*
Contributions in
Fiscal year Actuarially relation to the Contributions Contributions as a ended determined actuarially determined deficiency Covered percentage of June 30, contributions contributions (excess) payroll 1 covered payroll 2015 2 2,620,741$ (2,620,741)$ -$ 9,776,879$ 26.81% 2016 2 2,894,745 (2,894,745) - 10,332,152 28.02% 2017 2 3,301,561 (3,301,561) - 10,874,918 30.36% 2018 2 3,759,899 (3,759,899) - 11,599,156 32.42% 2019 2 4,387,258 (4,387,258) - 12,310,910 35.64% 2020 3 5,095,707 (5,095,707) - 13,023,674 39.13% 2021 3 5,548,843 (5,548,843) - 12,779,176 43.42% 2022 3 5,916,978 (5,916,978) - 12,987,878 45.56% 2023 3 6,516,715 (6,516,715) - 13,844,914 47.07% 2024 3 6,837,202 (6,837,202) - 16,035,015 42.64% Changes in assumptions: None
1 Covered Payroll is defined as the actual payroll on which contributions to a pension plan are based. 2 Fiscal years noted in this table match with the fiscal years presented in the GASB 68 actuarial valuation report 3 As prescribed in GASB 68, paragraph 46, the information presented is from the most recent year Benefit changes: None
Notes to Schedule

SCHEDULE OF CONTRIBUTIONS
Safety Police Plan
A Cost Sharing Defined Benefit Pension Plan
Last 10 Years

EXHIBIT A
185
See Notes to Required Supplementary Information 101
City of Livermore
Schedule of Changes in the City’s Net OPEB Liability and Related Ratios Last Ten Fiscal Years*
Fiscal year Ended June 30, 2018 2019 2020 2021 2022 2023 2024 Measurement date as of June 30, 2017 2018 2019 2020 2021 2022 2023 Service Cost 1,324,000$ 1,364,072$ 1,404,890$ 1,188,021$ 1,223,662$ 1,032,271$ 1,087,105$ Interest 4,461,000 4,645,578 4,827,840 4,936,407 5,115,274 4,869,477 4,886,409 Changes of benefit terms - - - - - - -
Changes in assumptions - - 4,311,034 - (1,463,176) 1,365,243 93,577 Differences between expected and actual experience - - (5,282,915) - (1,868,874) - (9,974,671) Benefit payments, including refunds (2,839,793) (3,109,307) (3,383,525) (3,363,911) (3,452,661) (3,748,080) (3,838,518) Net change in total OPEB liability 2,945,207 2,900,343 1,877,324 2,760,517 (445,775) 3,518,911 (7,746,098) Total OPEB liability - beginning 68,715,793 71,661,000 74,561,343 76,438,667 79,199,184 78,753,409 82,272,320 Total OPEB liability - ending (a) 71,661,000$ 74,561,343$ 76,438,667$ 79,199,184$ 78,753,409$ 82,272,320$ 74,526,222$ Plan fiduciary net position
Contributions - employer 5,747,533$ 5,324,000$ 5,380,000$ 4,900,000$ 5,163,000$ 5,035,080$ 4,720,518$ Net investment income 2,128,521 2,012,498 1,855,034 805,844 10,050,944 (5,719,634) 4,064,254 Benefit payments, including refunds (2,839,793) (3,109,307) (3,383,525) (3,363,911) (3,452,661) (3,748,080) (3,838,518) Administrative expense (86,886) (102,288) (111,259) (121,024) (141,453) (78,844) (73,449) Net change in plan fiduciary net position 4,949,375 4,124,903 3,740,250 2,220,909 11,619,830 (4,511,478) 4,872,805 Plan fiduciary net position - beginning 17,215,192 22,164,567 26,289,470 30,029,720 32,250,629 43,870,459 39,358,981 Plan fiduciary net position - ending (b) 22,164,567$ 26,289,470$ 30,029,720$ 32,250,629$ 43,870,459$ 39,358,981$ 44,231,786$ City's net OPEB liability - ending (a) - (b) 49,496,433$ 48,271,873$ 46,408,947$ 46,948,555$ 34,882,950$ 42,913,339$ 30,294,436$ Plan fiduciary net position as a percentage of the
total pension liability 30.9% 35.3% 39.3% 40.7% 55.7% 47.8% 59.4% Covered payroll 1 29,345,533$ 29,169,986$ 28,506,581$ 26,656,102$ 26,508,421$ 23,571,067$ 20,357,510$ City's net OPEB liability as a percentage of covered payroll 168.7% 102.3% 162.8% 176.1% 131.6% 182.1% 148.8% 1 With the implementation of GASB 82, Covered Payroll is defined as the actual payroll on which contributions to a pension plan are based.

Notes to Schedule
Benefit changes: None
Changes in assumptions:
- Decreased medical trend rate for Kaiser Senior Advantage plans - Medical Plan Election updated based on current experience - Mortalility improvement scale was updated to Scale MP-2020

SCHEDULE OF CHANGES IN THE CITY'S NET OPEB LIABILITY AND RELATED RATIOS Last 10 Fiscal Years

EXHIBIT A
186
See Notes to Required Supplementary Information 102
City of Livermore
Other Post-Employment Benefits Schedule of Contributions Last Ten Fiscal Years*
Contributions in
relation to the
Fiscal year Actuarially actuarially Contributions Contributions as a ended determined determined deficiency Covered percentage of June 30, contributions contributions (excess) payroll 2 covered payroll 2018 5,060,000$ (5,747,533)$ (687,533)$ 29,345,533$ 19.59% 2019 5,082,000 (5,324,000) (242,000) 29,169,986 18.25% 2020 4,900,000 (5,380,000) (480,000) 28,506,581 18.87% 2021 4,963,000 (5,163,000) (200,000) 26,508,421 19.48% 2022 5,035,080 (5,035,080) - 23,571,067 21.36%
2023 4,718,000 (4,720,518) (2,518) 23,052,445 20.48%
2024 3,635,000 (4,406,083) (771,083) 20,357,510 21.64%
June 30, 2022
Entry age, level percentage of payroll
Level percentage of payroll
14-year fixed period for 2023-24
Investment gains and losses spread over 5-year rolling period

2.50%
Healthcare cost trend rates Non-medicare - 8.5% for 2025, scaling down to 3.45% in 2076 Medicare - 7.50% for 2025 scaling down to 3.45% in 2076

2.75%

6.25%
Benefit changes: None
Changes in assumptions: None
1 This schedule is intended to show information for 10 years. Additional years will be added to this schedule in future fiscal years until 10 years of data is presented. 2 With the implementation of GASB 82, Covered Payroll is defined as the actual payroll on which contributions to a pension plan are based.

Discount Rate
Mortality CalPERS 2000-2019 Experience Study
Salary increases

SCHEDULE OF CONTRIBUTIONS

OTHER POST EMPLOYEMENT BENEFITS
Last 10 Fiscal Years 1
Notes to Schedule
Valuation date:

Methods and assumptions used to determine
Actuarial cost method
Amortization method
Remaining amortization period
Asset valuation method
Inflation

EXHIBIT A
187
Supplementary Information
June 30, 2024
City of Livermore

EXHIBIT A
188
This Page Intentionally Left Blank

EXHIBIT A
189
103
City of Livermore
Non-Major Governmental Funds
June 30, 2024
Special Revenue Funds are used to account for City revenues from sources that, by law or administrative action, are designated to finance particular functions or activities of government. The individual special revenue funds are as follows:

Housing Successor Agency
Established to account for assets and liabilities assumed by the City from the former Redevelopment Agency’s Low and Moderate Income Housing Fund.

Housing and Community Assistance
Established to account for outside resources used for Housing and Human Service programs that can be used to create and expand affordable housing opportunities.

Horizons
Established to account for the receipt of grant funds from the Federal Department of Health and Human Services (passed through the Alameda County Probation Department and the Alameda County Health Care Services Agency) for the youth diversion program.

Solid Waste Management
Established to account for funds received from waste hauler franchise fees and Alameda County Waste Management Authority used to administer and participate in City/County planning programs to ensure compliance with the California Integrated Solid Waste Management Act, AB 939.

Maintenance District
Established to account for the receipt and disbursement of Landscape and Maintenance District fees collected from developers and homeowners.

City Street Sweeping
Established to administer funds received through solid waste collection fees.

Park Fee
Established to administer the AB1600 funds received from developers to construct new parks in the City.

Other Special Revenue Funds
Established to account for City programs including the Public Art In-Lieu Fee Program, Altamont Open Space Program, and Brownfield Program.

PEG
Established to account for Public, Educational, and Government (PEG) Access funds received from local cable TV franchises used for capital related items for community cable programming.

Alameda County Transportation Funds
Established to account for funds received from the Alameda County Transportation Commission including Measure B funds, Measure F funds (Vehicle Registration Fees), and project-specific grant funds which provide funding for street maintenance and improvement programs, pedestrian programs, and transportation-related capital projects.

EXHIBIT A
190
104
City of Livermore
Non-Major Governmental Funds
June 30, 2024
Gas Tax
Established to account for revenue apportioned to the City from State Street & Highways Codes 2103, 2105, 2106, and 2107, and State Department of Transportation Proposition 1B funds which are expended for construction and maintenance of City streets.

Host Community Impact Fee
Established to account for the collection of Host Community Impact Fees from the Altamont and Vasco Road Landfills which are restricted for the use of promoting the arts in Livermore.

Other Impact Fee Special Revenue Fund
Established to account for other City impact fees including the Downtown Revitalization Impact Fee, Human Services Facilities Impact Fees, Parking Space Impact Fees, Storm Drain Impact Fees, and Solid Waste and Recycling Impact Fees to be expended according to their respective City ordinances.

Tri-Valley Transportation Council (TVTC) 20% Fee
Established to account for receipts of Tri-Valley Transportation Council fees for specific capital improvement projects.

Other Local, State, and Federal Grants Special Revenue Fund Established to account for various grants from local agencies, the State of California, and the Federal Government to be expended for a specific program, activity or facility.

Debt Service Funds are used to account for the payment of principal and interest on city-wide governmental debt. 2020 COP
Series A were issued to defease 2014 COP Series A. Series B were issued to defease LCPFA 2011 COP and the 2014 COP Series B.
2022 COPS
2022 COPS were issued to provide financing for the design and construction of a parking garage to provide adequate parking for all existing and new development and other improvements of the City.

Capital Projects Funds are used to account for and report financial resources that are restricted, committed or assigned to expenditures for capital outlays, including the acquisition or construction of capital facilities and other capital assets.

Traffic Impact Fee
Established to account for traffic impact fees collected from developers for the purpose of constructing or providing circulation system improvements.

Isabel Avenue
Established to account for the construction of new interchange on I-580 at Isabel Avenue/ Route 84 Extension. Financing is provided by Other Local, State and Federal Grant Funds, Alameda County Transportation Fund, and developer impact fees.

EXHIBIT A
191
105
City of Livermore
Non-Major Governmental Funds
June 30, 2024
El Charro Specific Plan
Established to account for the design and construction of the public infrastructure to serve the El Charro Specific Plan Area. Financing is provided by the Water Enterprise Fund, Storm Drain Fund, Traffic Impact Fee Fund, LCPFA COP 2008 and 2011 COP Construction Funds, Alameda County Zone 7 Water Agency, Alameda County Transportation Commission Grant Funds, State grants, City of Pleasanton, and development impact fees collected.

Developer Deposits
Established to account for developer fees received pursuant to development agreements, performance deposits, public park improvement fees and transportation development fees collected.

Other Capital Projects
Established to account for various quality community improvements including Transferable Development Credits from developers, fire station, Livermore park, and to account for construction of public improvements on College Avenue Assessment District 87-2A and Shea Community Facilities District.

Street Fund
Established to account for the construction and improvements of city streets including Vasco Road, Civic Center Bus Stop, and Route 84. Financing includes multiple sources including City funds (Tri-Valley Transportation Council Funds, Traffic Impact Fees) and third parties (California Department of Transportation, LAVTA and Agency Trust).
2022 COPS Construction Capital Fund
Established to account for the receipt and disbursement of the design and construction of a parking garage to provide adequate parking for all existing and new development and other improvements of the City.

EXHIBIT A
192
106
City of Livermore
Non-Major Governmental Funds – Combining Balance Sheet
June 30, 2024
Housing Housing & Solid
Successor Community Waste Maintenance City Street
Agency Assistance Horizons Management District Sweeping ASSETS
Cash and investments in City Treasury 1,723,453$ 1,441,614$ 222,753$ 245,867$ 15,892,496$ 298,387$ Cash and investments with Trustees - - - - - -
Accounts receivables, net - - 431,139 59,867 17,431 - Prepaids and supplies - - - - - -
Interest receivable 2,797,959 58,040 - - - -
Notes receivable 7,122,770 431,400 - - - - Land held for redevelopment - - - - - -
Due from other funds - - - - - -
Total Assets 11,644,182$ 1,931,054$ 653,892$ 305,734$ 15,909,927$ 298,387$

LIABILITIES
Accounts payable and other accruals -$ 15,690$ 103$ 4,620$ 293,463$ 572 Accrued payroll - - 32,814 18,267 37,619 8,326 Interest payable - - - - - -
Deposits payable - - - - - -
Due to other funds - - - - - -
Advances from other funds - - - - - -
Unearned rents and revenue - - - - - -
Total Liabilities - 15,690 32,917 22,887 331,082 8,898

DEFERRED INFLOWS OF RESOURCES
Unavailable revenue- special assessments - - - - - -
Unavailable revenue 2,797,959 58,040 - - - -
Total deferred inflows of resources 2,797,959 58,040 - - - -

FUND BALANCE
Nonspendable - - - - - -
Restricted 8,846,223 1,857,324 620,975 282,847 15,578,845 289,489 Committed - - - - - -
Unassigned - - - - - -
Total Fund Balances (Deficits) 8,846,223 1,857,324 620,975 282,847 15,578,845 289,489 Total Liabilities, deferred inflows of resources,
and fund balances (deficits) 11,644,182$ 1,931,054$ 653,892$ 305,734$ 15,909,927$ 298,387$ JUNE 30, 2024

SPECIAL REVENUE FUNDS

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEET

EXHIBIT A
193
107
City of Livermore
Non-Major Governmental Funds – Combining Balance Sheet
June 30, 2024
Alameda
Other County Host Other
Park Special Revenue Transportation Community Impact TVTC 20% Fee Funds PEG Funds Gas Tax Impact Fee Fee Fee
5,669,173$ 5,122,972$ 1,545,814$ 12,516,785$ 15,501,236$ 1,098,518$ 3,136,140$ 3,130,224$ - - - - - - - -
500 152 55,836 562,569 386,436 269,920 - -
- - - - - - - -
- - - - - - - -
- 57,295 - - - - - -
- - - - - - - -
- - - - - - - -
5,669,673$ 5,180,419$ 1,601,650$ 13,079,354$ 15,887,672$ 1,368,438$ 3,136,140$ 3,130,224$ 218,231$ 20,915$ -$ 662,555$ 885,706$ -$ 500$ -$ - - - - - - - -
- - - - - - - -
- - - 41,762 36,585 - 3,116 -
- - - - - - - -
- - - - - - 3,586,595 -
- 105,310 - - - - - -
218,231 126,225 - 704,317 922,291 - 3,590,211 - - - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
5,451,442 2,146,637 1,601,650 12,375,037 14,965,381 1,368,438 - 3,130,224 - 2,907,557 - - - - - -
- - - - - - (454,071) -
5,451,442 5,054,194 1,601,650 12,375,037 14,965,381 1,368,438 (454,071) 3,130,224 5,669,673$ 5,180,419$ 1,601,650$ 13,079,354$ 15,887,672$ 1,368,438$ 3,136,140$ 3,130,224$ (Continued)

SPECIAL REVENUE FUNDS
JUNE 30, 2024

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEET

EXHIBIT A
194
108
City of Livermore
Non-Major Governmental Funds – Combining Balance Sheet
June 30, 2024

SPECIAL REVENUE
FUND

DEBT SERVICE
FUND

CAPITAL PROJECTS
FUNDS
Other
Local, State Traffic 2022 COPS
and Federal Impact Construction Capital
. Grants 2020 COPS 2022 COPS Fee Projects Fund
ASSETS
Cash and investments in City Treasury 3,677,429$ -$ -$ 24,643,164$ (1,333,929)$ Cash and investments with Trustees - - 2 - 24,566,462
Accounts receivables, net 561,197 - - - -
Prepaids and supplies - - - - -
Interest receivable 212,971 - - - -
Notes receivable 1,638,134 - - - -
Land held for redevelopment - - - - -
Due from other funds - - - - -
Total Assets 6,089,731$ -$ 2$ 24,643,164$ 23,232,533$

LIABILITIES
Accounts payable and other accruals 339,644$ -$ -$ 363,968$ 3,397,848$ Accrued payroll 7,595 - - - -
Interest payable - - - - -
Deposits payable 652,321 - - - 159,389
Due to other funds - - - - -
Advances from other funds - - - - -
Unearned rents and revenue 48,685 - - - -
Total Liabilities 1,048,245 - - 363,968 3,557,237

DEFERRED INFLOWS OF RESOURCES
Unavailable revenue- special assessments - - - - -
Unavailable revenue 212,970 - - - -
Total deferred inflows of resources 212,970 - - - -

FUND BALANCE
Nonspendable - - - - -
Restricted 4,828,516 - 2 24,279,196 19,675,296 Committed - - - - -
Unassigned - - - - -
4,828,516 - 2 24,279,196 19,675,296
Total Liabilities, deferred inflows of resources,
and fund balances (deficits) 6,089,731$ -$ 2$ 24,643,164$ 23,232,533$ JUNE 30, 2024

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEET

EXHIBIT A
195
109
City of Livermore
Non-Major Governmental Funds – Combining Balance Sheet
June 30, 2024

PERMANENT
FUND
Total
Other Nonmajor
El Charro Developer Capital Street Doolan Canyon Governmental Specific Plan Deposits Projects Fund Endowment Fund Funds -$ 3,131,474$ 19,282,635$ -$ -$ 116,946,205$ - - - - - 24,566,464
- - - - - 2,345,047
- - - - - -
- - - - - 3,068,970
- - - - - 9,249,599
- - - - - -
- - - - - -
-$ 3,131,474$ 19,282,635$ -$ -$ 156,176,285$ -$ 7,913$ -$ -$ -$ 6,211,728$
- - - - - 104,621
- - - - - -
- 1,360,206 - - - 2,253,379
- - - - - -
- - - - - 3,586,595
- 1,763,355 - - - 1,917,350
- 3,131,474 - - - 14,073,673
- - - - - -
- - - - - 3,068,969
- - - - - 3,068,969
- - - - - -
- - 19,282,635 - - 136,580,157
- - - - - 2,907,557
- - - - - (454,071)
- - 19,282,635 - - 139,033,643
-$ 3,131,474$ 19,282,635$ -$ -$ 156,176,285$

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEET
JUNE 30, 2024

CAPITAL PROJECTS FUNDS

EXHIBIT A
196
110
City of Livermore
Combining Statements of Revenues, Expenditures and Changes in Fund Balances – Non-Major Governmental Funds Year Ended June 30, 2024
Housing Housing & Solid
Successor Community Waste Maintenance City Street
Agency Assistance Horizons Management District Sweeping

REVENUES
Taxes and special assessments -$ -$ -$ -$ 4,686,394$ -$ Intergovernmental - 54,406 - 246,127 -
Contributions from outside sources - - 210,000 333,682 - Charges for services - - 643,242 738,981
Use of money and property 71,855 5,713 - 8,124 -
Miscellaneous - - - - -
Total Revenues 71,855 60,119 853,242 587,933 4,686,394 738,981

EXPENDITURES
Current:

General Government
City Manager - - - - - -
Fire - - - - - -
Police - - 989,980 - - -
Public Works - - - 626,747 3,399,051 518,283 Community Development 44 2,094 - - - -
Economic Development - - - - - -
Library - - - - - -
Capital Outlay: -
Capital projects - 55,892 - - 365,455 -
Debt service:

Principal retirement - - - - - -
Interest and fiscal charges - - - - - -
Total Expenditures 44 57,986 989,980 626,747 3,764,506 518,283

EXCESS (DEFICIENCW) OF REVENUES
OVER EXPENDITURES 71,811 2,133 (136,738) (38,814) 921,888 220,698

OTHER FINANCING SOURCES (USES)
Transfers in - - 240,000 - 358,087 -
Transfers (out) - - - - (266,797) -
Total Other Financing Sources (Uses) - - 240,000 - 91,290 - Net change in fund balances 71,811 2,133 103,262 (38,814) 1,013,178 220,698 Fund balances (deficits)- beginning, as restated 8,774,412 1,855,191 517,713 321,661 14,565,667 68,791 Fund balances (deficits)- ending 8,846,223$ 1,857,324$ 620,975$ 282,847$ 15,578,845$ 289,489$

SPECIAL REVENUE FUNDS

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 2024

EXHIBIT A
197
111
City of Livermore
Combining Statements of Revenues, Expenditures and Changes in Fund Balances – Non-Major Governmental Funds Year Ended June 30, 2024
Other Alameda County Host Other
Park Special Revenue Transportation Community Impact TVTC Fee Funds PEG Funds Gas Tax Impact Fee Fee 20% Fee
-$ -$ -$ -$ -$ -$ -$ -$
- - - 3,412,305 4,576,090 - - -
- 372,175 - - - 533,851 - -
1,374,142 79,630 228,467 - - - 1,831,091 74,748 158,155 128,096 - 384,250 572,622 42,547 - 140,779 - 16,915 - - 730 - - -
1,532,297 596,816 228,467 3,796,555 5,149,442 576,398 1,831,091 215,527 - - 70,780 - - - - -
- - - - - - - -
- - - - - - - -
- - - 114,730 - 101,180 - -
385,155 57,856 - 180,693 2,409,636 - 3,466,688 - - 40,529 - - 0!$P$3:$P$5701,EXP!$B$3:$B$5701,Z$2,EXP!$D$3:$D$5701,"Economic*") - - - - - - - - - - - - 63,726 228,465 - 1,505,155 1,697,011 - - - - - - - - - - -
- - - - - - - -
448,881 326,850 70,780 1,800,578 4,106,647 101,180 3,466,688 - 1,083,416 269,966 157,687 1,995,977 1,042,795 475,218 (1,635,597) 215,527 - - - - - - - -
- (19,248) - - (117,294) (508,600) - - - (19,248) - - (117,294) (508,600) - - 1,083,416 250,718 157,687 1,995,977 925,501 (33,382) (1,635,597) 215,527 4,368,026 4,803,476 1,443,963 10,379,060 14,039,880 1,401,820 1,181,526 2,914,697 5,451,442$ 5,054,194$ 1,601,650$ 12,375,037$ 14,965,381$ 1,368,438$ (454,071)$ 3,130,224$ (Continued)

SPECIAL REVENUE FUNDS

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 2024

EXHIBIT A
198
112
City of Livermore
Combining Statements of Revenues, Expenditures and Changes in Fund Balances – Non-Major Governmental Funds Year Ended June 30, 2024

SPECIAL REVENUE FUND
Other
Local, State Traffic 2022 COPS
and Federal Impact Construction Capital
Grants 2020 COPS 2022 COPS Fee Projects Fund

REVENUES
Taxes and special assessments -$ -$ -$ -$ -$
Intergovernmental 2,610,800 - - - 254,508
Contributions from outside sources 52,024 - - - -
Charges for services - - - 1,128,579 -
Use of money and property 41,387 - 397 1,021,847 1,564,223 Miscellaneous 97,775 - - - -
Total Revenues 2,801,986 - 397 2,150,426 1,818,731

EXPENDITURES
Current:

General Government:

City Manager - - - 583,024 -
Fire 8,838 - - - -
Police 338,882 - - - -
Public works 41,234 - - - -
Community Development 2,102,215 - - - -
Economic Development - - - -
Library 137,291 - - - -
Capital Outlay:

Capital projects 249,430 - - 376,501 16,251,651
Debt service:

Principal retirement 360,758 2,948,660 665,000 - -
Interest and fiscal charges 31,669 1,438,177 1,916,050 - - Total Expenditures 3,270,317 4,386,837 2,581,050 959,525 16,251,651

EXCESS (DEFICIENCW) OF REVENUES
OVER EXPENDITURES (468,331) (4,386,837) (2,580,653) 1,190,901 (14,432,920)

OTHER FINANCING SOURCES (USES)
Transfers in - 4,386,837 2,580,073 - -
Transfers (out) (12,426) - - (64,677) -
Total Other Financing Sources (Uses) (12,426) 4,386,837 2,580,073 (64,677) - Net change in fund balances (480,757) - (580) 1,126,224 (14,432,920) Fund balances (deficits)- beginning, as restated 5,309,273 - 582 23,152,972 34,108,216 Fund balances (deficits)- ending 4,828,516$ -$ 2$ 24,279,196$ 19,675,296$ FOR THE YEAR ENDED JUNE 30, 2024

DEBT SERVICE FUNDS CAPITAL PROJECTS FUNDS

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

EXHIBIT A
199
113
City of Livermore
Combining Statements of Revenues, Expenditures and Changes in Fund Balances – Non-Major Governmental Funds Year Ended June 30, 2024

PERMANENT FUND
Total
Other Nonmajor
El Charro Developer Capital Street Doolan Canyon Governmental Specific Plan Deposits Projects Fund Endowment Funds
-$ -$ -$ -$ -$ 4,686,394$
- - - - - 11,154,236
- - - - - 1,501,732
- - - - - 6,098,880
- - - - - 4,139,995
- 5,902 4,723,774 - - 4,845,096
- 5,902 4,723,774 - - 32,426,333
- - - - - 653,804
- - - - - 8,838
- - - - - 1,328,862
- - - - - 4,801,225
- - - - 601,048 9,205,429
- - - - - 40,529
- - - - - 137,291
- - - - - 20,793,286
- - - - - 3,974,418
- - - - - 3,385,896
- - - - 601,048 44,329,578
- 5,902 4,723,774 - (601,048) (11,903,245)
- - - - - 7,564,997
- - - - - (989,042)
- - - - - 6,575,955
- 5,902 4,723,774 - (601,048) (5,327,290)
- (5,902) 14,558,861 - 601,048 144,360,933
-$ -$ 19,282,635$ -$ -$ 139,033,643$

CAPITAL PROJECTS FUNDS

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 2024

EXHIBIT A
200
114
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Budgeted Non-Major Funds Year Ended June 30, 2024

HOUSING SUCCESSOR HOUSING & COMMUNITY ASSISTANCE HORIZONS Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)

REVENUES
Taxes and special assessments -$ -$ -$ -$ -$ -$
Other taxes - - - - - -
Interest and rentals - - -
Intergovernmental - - - 1,326,000 54,406 (1,271,594) Contributions from outside sources - - - - - -
Charges for services - - - - - -
Use of money and property 20,234 71,855 51,621 - 5,713 5,713 Miscellaneous - - - 61,000 - (61,000)
Total Revenues 20,234 71,855 51,621 1,387,000 60,119 (1,326,881)

EXPENDITURES
Current:

General Government:

City Manager - - - - - -
Fire - - - - - -
Police - - - - - -
Public works - - - - - -
Community Development 500,715 44 500,671 66,771 2,094 64,677 Economic Development - - - - - -
Library - - - - - -
Capital Outlay:

Capital projects - - - 1,326,000 55,892 1,270,108 Debt service:

Principal - - - - - -
Interest and fiscal charges - - - - - -
Total Expenditures 500,715 44 500,671 1,392,771 57,986 1,334,785

EXCESS (DEFICIENCY) OF REVENUE
OVER EXPENDITURES (480,481) 71,811 552,292 (5,771) 2,133 7,904

OTHER FINANCING SOURCES (USES)
Transfers in - - - - - -
Transfers out - - - - - -
Total Other Financing Sources (Uses) - - - - - -
Net change in fund balance (480,481)$ 71,811 552,292$ (5,771)$ 2,133 7,904$ Fund balances (deficits)- beginning, as restated 8,774,412 1,855,191 Fund balances (deficits)- ending 8,846,223$ 1,857,324$

BUDGETED NON-MAJOR FUNDS

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2024

EXHIBIT A
201
115
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Budgeted Non-Major Funds Year Ended June 30, 2024

HORIZONS SOLID WASTE MANAGEMENT MAINTENANCE DISTRICT
Variance Variance Variance
Positive Positive Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ 4,698,797$ 4,686,394$ (12,403)$ - - - - - - - - -
- - - - - -
- - - 293,550 246,127 (47,423) - - - 135,500 210,000 74,500 - 333,682 333,682 - - - 700,000 643,242 (56,758) 335,101 - (335,101) - - - - - - 2,474 8,124 5,650 169,026 - (169,026)
3,000 - (3,000) - - - - - -
838,500 853,242 14,742 631,125 587,933 (43,192) 4,867,823 4,686,394 (181,429) - - - - - - - - -
- - - - - - - - -
1,215,323 989,980 225,343 - - - - - - - - - 777,904 626,747 151,157 4,017,870 3,399,051 618,819 - - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - 365,455 (365,455)
- - - - - - - - -
- - - - - - - - -
1,215,323 989,980 225,343 777,904 626,747 151,157 4,017,870 3,764,506 253,364 (376,823) (136,738) 240,085 (146,779) (38,814) 107,965 849,953 921,888 71,935 240,000 240,000 - 12,190 - (12,190) 205,000 358,087 153,087 - - - - - - (250,000) (266,797) (16,797)
240,000 240,000 - 12,190 - (12,190) (45,000) 91,290 136,290 (136,823)$ 103,262 240,085$ (134,589)$ (38,814) 95,775$ 804,953$ 1,013,178 208,225$ 517,713 321,661 14,565,667
620,975$ 282,847$ 15,578,845$
(Continued)

EXHIBIT A
202
116
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Budgeted Non-Major Funds Year Ended June 30, 2024

CITY STREET SWEEPING PARK FEE OTHER SPECIAL REVENUE FUNDS Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)

REVENUES
Taxes and special assessments -$ -$ -$ -$ -$ -$
Other taxes - - - - - -
Interest and rentals - -
Intergovernmental - - - - - -
Contributions from outside sources - - - - - -
Charges for services 741,117 738,981 (2,136) 3,400,000 1,374,142 (2,025,858) Use of money and property - - - 49,395 158,155 108,760 Miscellaneous - - - - - -
Total Revenues 741,117 738,981 (2,136) 3,449,395 1,532,297 (1,917,098)

EXPENDITURES
Current:

General Government:

City Manager - - - - - -
Fire - - - - - -
Police - - - - - -
Public works 518,283 518,283 - - - -
Community Development - - - 2,380,000 385,155 1,994,845 Economic Development - - - - - -
Library - - - - - -
Capital Outlay:

Capital projects - - - 1,319,000 63,726 1,255,274 Debt service:

Principal - - - - - -
Interest and fiscal charges - - - - - -
Total Expenditures 518,283 518,283 - 3,699,000 448,881 3,250,119

EXCESS (DEFICIENCY) OF REVENUE
OVER EXPENDITURES 222,834 220,698 (2,136) (249,605) 1,083,416 1,333,021

OTHER FINANCING SOURCES (USES)
Transfers in - - - - - -
Transfers out - - - - - -
Total Other Financing Sources (Uses) - - - - - -
Net change in fund balance 222,834$ 220,698 (2,136)$ (249,605)$ 1,083,416 1,333,021$ Fund balances (deficits)- beginning, as restated 68,791 4,368,026 Fund balances (deficits)- ending 289,489$ 5,451,442$ FOR THE FISCAL YEAR ENDED JUNE 30, 2024

BUDGETED NON-MAJOR FUNDS

BUDGET AND ACTUAL

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

EXHIBIT A
203
117
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Budgeted Non-Major Funds Year Ended June 30, 2024

OTHER SPECIAL REVENUE FUNDS

ALAMEDA COUNTY

TRANSPORTATION FUNDS
Variance Variance Variance
Positive Positive Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$
- - - - - - - - -
- - - - - -
- - - - - - 3,225,408 3,412,305 186,897
- 372,175 372,175 - - - - - -
165,000 79,630 (85,370) - 228,467 228,467 - - - 40,118 128,096 87,978 - - - 113,862 384,250 270,388 4,000,000 16,915 (3,983,085) 250,000 - (250,000) - - - 4,205,118 596,816 (3,608,302) 250,000 228,467 (21,533) 3,339,270 3,796,555 457,285 - - - 526,080 70,780 455,300 - - - - - - - - - - - -
- - - - - - - - -
- - - - - - 260,950 114,730 146,220
34,000 57,856 (23,856) - - - 3,095,400 180,693 2,914,707 173,829 40,529 133,300 - - - - - - - - - - - - - - -
646,100 228,465 417,635 - - - 4,189,730 1,505,155 2,684,575 - - - - - - - - -
- - - - - - - - -
853,929 326,850 527,079 526,080 70,780 455,300 7,546,080 1,800,578 5,745,502 3,351,189 269,966 (3,081,223) (276,080) 157,687 433,767 (4,206,810) 1,995,977 6,202,787 - - - - - - - - -
(5,000) (19,248) (14,248) - - - - - - (5,000) (19,248) (14,248) - - - - - - 3,346,189$ 250,718 (3,095,471)$ (276,080)$ 157,687 433,767$ (4,206,810)$ 1,995,977 6,202,787$ 4,803,476 1,443,963 10,379,060
5,054,194$ 1,601,650$ 12,375,037$
Continued
PEG

EXHIBIT A
204
118
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Budgeted Non-Major Funds Year Ended June 30, 2024

GAS TAX HOST COMMUNITY IMPACT FEE OTHER IMPACT FEE
Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)

REVENUES
Taxes and special assessments -$ -$ -$ -$ -$ -$
Other taxes - - - - - -
Interest and rentals - - -
Intergovernmental 4,631,872 4,576,090 (55,782) - - - Contributions from outside sources - - - 520,000 533,851 13,851 Charges for services - - - - - -
Use of money and property 168,758 572,622 403,864 - 42,547 42,547 Miscellaneous - 730 730 - - -
Total Revenues 4,800,630 5,149,442 348,812 520,000 576,398 56,398

EXPENDITURES
Current:

General Government:

City Manager - - - - - -
Fire - - - - - -
Police - - - - - -
Public works - - - 135,720 101,180 34,540 Community Development 7,067,000 2,409,636 4,657,364 - - - Economic Development - - - - - -
Library - - - - - -
Capital Outlay:

Capital projects 3,788,000 1,697,011 2,090,989 - - - Debt service:

Principal - - - - - -
Interest and fiscal charges - - - - - -
Total Expenditures 10,855,000 4,106,647 6,748,353 135,720 101,180 34,540

EXCESS (DEFICIENCY) OF REVENUE
OVER EXPENDITURES (6,054,370) 1,042,795 7,097,165 384,280 475,218 90,938

OTHER FINANCING SOURCES (USES)
Transfers in - - - - - -
Transfers out (120,000) (117,294) 2,706 (530,000) (508,600) 21,400 Total Other Financing Sources (Uses) (120,000) (117,294) 2,706 (530,000) (508,600) 21,400 Net change in fund balance (6,174,370)$ 925,501 7,099,871$ (145,720)$ (33,382) 112,338$ Fund balances (deficits)- beginning, as restated 14,039,880 1,401,820 Fund balances (deficits)- ending 14,965,381$ 1,368,438$

BUDGETED NON-MAJOR FUNDS

BUDGET AND ACTUAL

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE FISCAL YEAR ENDED JUNE 30, 2024

EXHIBIT A
205
119
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Budgeted Non-Major Funds Year Ended June 30, 2024
OTHER IMPACT FEE TVTC 20% FEE
Variance Variance Variance
Positive Positive Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$
- - - - - - - - -
- - - - - - -
- - - - - - 5,748,551 2,610,800 (3,137,751)
- - - - - - 50,000 52,024 2,024 1,891,635 1,831,091 (60,544) 4,811,700 74,748 (4,736,952) 30,000 - (30,000) - - - 43,312 140,779 97,467 33,384 41,387 8,003 - - - - - - 374,000 97,775 (276,225) 1,891,635 1,831,091 (60,544) 4,855,012 215,527 (4,639,485) 6,235,935 2,801,986 (3,433,949) - - - - - - - - -
- - - - - - 24,200 8,838 15,362
- - - - - - 529,155 338,882 190,273
- - - - - - 22,000 41,234 (19,234)
4,634,000 3,466,688 1,167,312 4,811,700 - 4,811,700 4,463,230 2,102,215 2,361,015 - - - - - - - - -
- - - - - - 269,949 137,291 132,658
- - - - - - 1,554,270 249,430 1,304,840
- - - - - - 166,759 360,758 (193,999) - - - - - - 25,851 31,669 (5,818) 4,634,000 3,466,688 1,167,312 4,811,700 - 4,811,700 7,055,414 3,270,317 3,785,097 (2,742,365) (1,635,597) 1,106,768 43,312 215,527 172,215 (819,479) (468,331) 351,148 - - - - - - - - -
(400,000) - 400,000 - - - (33,706) (12,426) 21,280 (400,000) - 400,000 - - - (33,706) (12,426) 21,280 (3,142,365)$ (1,635,597) 1,506,768$ 43,312$ 215,527 172,215$ (853,185)$ (480,757) 372,428$ 1,181,526 2,914,697 5,309,273
(454,071)$ 3,130,224$ 4,828,516$

OTHER LOCAL, STATE, AND FEDERAL GRANTS

EXHIBIT A
206
120
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Budgeted Non-Major Funds Year Ended June 30, 2024
2020 COP DEBT SERVICE 2022 COP DEBT SERVICE TRAFFIC IMPACT FEE Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)

REVENUES
Taxes and special assessments -$ -$ -$ -$ -$ -$
Other taxes - - - - - -
Interest and rentals - -
Intergovernmental - - - - - -
Contributions from outside sources - - - - - -
Charges for services - - - - - -
Use of money and property - - - - 397 397
Miscellaneous - - - - - -
Total Revenues - - - - 397 397

EXPENDITURES
Current:

General Government:

City Manager - - - - - -
Fire - - - - - -
Police - - - - - -
Public works - - - - - -
Community Development - - - - - -
Economic Development - - - - - -
Library - - - - - -
Capital Outlay:

Capital projects - - - - - -
Debt service:

Principal 2,948,660 2,948,660 - 665,000 665,000 - Interest and fiscal charges 1,438,177 1,438,177 - 1,927,000 1,916,050 10,950 Total Expenditures 4,386,837 4,386,837 - 2,592,000 2,581,050 10,950

EXCESS (DEFICIENCY) OF REVENUE
OVER EXPENDITURES (4,386,837) (4,386,837) - (2,592,000) (2,580,653) 11,347

OTHER FINANCING SOURCES (USES)
Transfers in 4,415,000 4,386,837 (28,163) 2,592,000 2,580,073 (11,927) Transfers out - - - - - -
Total Other Financing Sources (Uses) 4,415,000 4,386,837 (28,163) 2,592,000 2,580,073 (11,927) Net change in fund balance 28,163$ - (28,163)$ -$ (580) (580)$ Fund balances (deficits)- beginning, as restated - 582
Fund balances (deficits)- ending -$ 2$

BUDGETED NON-MAJOR FUNDS

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2024

EXHIBIT A
207
121
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Budgeted Non-Major Funds Year Ended June 30, 2024

TRAFFIC IMPACT FEE EL CHARRO SPECIFIC PLAN
Variance Variance Variance
Positive Positive Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$
- - - - - - - - -
- - - - - - - -
- - - - - - - - -
- - - - - - - - -
3,200,000 1,128,579 (2,071,421) - - - - - - 309,448 1,021,847 712,399 - - - 3,012 - (3,012) - - - - - - - 5,902 5,902
3,509,448 2,150,426 (1,359,022) - - - 3,012 5,902 2,890 - 583,024 (583,024) - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
180,300 - 180,300 - - - - - -
- - - - - - - - -
- - - - - - - - -
6,342,800 376,501 5,966,299 - - - - - -
- - - - - - - - -
- - - - - - - - -
6,523,100 959,525 5,563,575 - - - - - -
(3,013,652) 1,190,901 4,204,553 - - - 3,012 5,902 2,890 - - - - - - - - -
- (64,677) (64,677) - - - - - -
- (64,677) (64,677) - - - - - -
(3,013,652)$ 1,126,224 4,139,876$ -$ - -$ 3,012$ 5,902 2,890$ 23,152,972 - (5,902)
24,279,196$ -$ -$

BUDGETED NON-MAJOR FUNDS

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2024

DEVELOPER DEPOSITS

EXHIBIT A
208
122
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Budgeted Non-Major Funds Year Ended June 30, 2024
Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)

REVENUES
Taxes and special assessments -$ -$ -$ -$ -$ -$
Other taxes - - - - - -
Interest and rentals - - - -
Intergovernmental - - - - - -
Contributions from outside sources - - - - - -
Charges for services 3,139,645 - (3,139,645) - - - Use of money and property - - - 769 - (769)
Miscellaneous - 4,723,774 4,723,774 - - -
Total Revenues 3,139,645 4,723,774 1,584,129 769 - (769)

EXPENDITURES
Current:

General Government:

City Manager - - - - - -
Fire - - - - - -
Police - - - - - -
Public works - - - - - -
Community Development - - - - - -
Economic Development - - - - - -
Library - - - - - -
Capital Outlay:

Capital projects - - - - - -
Debt service:

Principal - - - - - -
Interest and fiscal charges - - - - - -
Total Expenditures - - - - - -

EXCESS (DEFICIENCY) OF REVENUE
OVER EXPENDITURES 3,139,645 4,723,774 1,584,129 769 - (769)

OTHER FINANCING SOURCES (USES)
Transfers in - - - - - -
Transfers out - - - (69,409) - 69,409
Total Other Financing Sources (Uses) - - - (69,409) - 69,409 Net change in fund balance 3,139,645$ 4,723,774 1,584,129$ (68,640)$ - 68,640$ Fund balances (deficits)- beginning, as restated 14,558,861 - Fund balances (deficits)- ending 19,282,635$ -$

BUDGETED NON-MAJOR FUNDS

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

STREET FUNDOTHER CAPITAL PROJECTS

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2024

EXHIBIT A
209
123
City of Livermore
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual – Budgeted Non-Major Funds Year Ended June 30, 2024
Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)
-$ -$ -$ -$ -$ -$
- - - - 254,508 254,508
- - - - -
- - - - - -
- - - - - -
- - - - - -
- - - 1,000,000 1,564,223 564,223
- - - - - -
- - - 1,000,000 1,818,731 818,731
- - - - - -
- - - - - -
- - - - - -
- - - - - -
28,000 601,048 (573,048) - - - - - - - - -
- - - - - -
- - - 24,820,000 16,251,651 8,568,349
- - - - - -
- - - - - -
28,000 601,048 (573,048) 24,820,000 16,251,651 8,568,349 (28,000) (601,048) (573,048) (23,820,000) (14,432,920) 9,387,080 - - - - - -
- - - - - -
- - - - - -
(28,000)$ (601,048) (573,048)$ (23,820,000)$ (14,432,920) 9,387,080$ 601,048 34,108,216
-$ 19,675,296$
2022 COP CONSTRUCTION CAPITAL

PROJECTS FUNDDOOLAN CANYON ENDWOMENT FUND

EXHIBIT A
210
124
City of Livermore
Internal Services Funds
June 30, 2024
Internal Service Funds
Internal service funds are used to account for the financing of services and supplies provided by one city department to another on a cost reimbursement basis.

The concept of major funds introduced by GASB 34 does not extend to internal service funds because they do not do business with outside parties. GASB 34 requires that for the Statement of Activities, the net revenues or expenses of each internal service fund be eliminated by netting against the operations of the other city departments which generated them. The remaining balance sheet items are consolidated with these same funds in the Statement of Net Position.

However, internal service funds are still presented separately in the Fund financial statements, including the funds below:

Liability Insurance Reserve
Established to account for the City’s public liability self-insured program.

Workers Compensation
Established to account for the City’s self-insured workers compensation program.

Fleet and Equipment Services
Established to account for the maintenance and acquisition of the City’s fleet and small equipment.

Information Technology
Established to account for the maintenance and acquisition of the City’s software and hardware.

Facilities Rehabilitation Projects
Established to account for the repair and maintenance of city facilities.

EXHIBIT A
211
This Page Intentionally Left Blank

EXHIBIT A
212
125
City of Livermore
Combining Statements of Net Position – Internal Service Funds Year Ended June 30, 2024
Liability Fleet and
Insurance Workers Equipment
Reserve Compensation Services
ASSETS
Current Assets:

Cash and investments in City Treasury 6,087,137$ 3,444,496$ 7,857,025$ Accounts receivable, net 2,668 - 253,411
Inventory - - 489,943
Prepaids, deposits and supplies - - -
Total current assets 6,089,805 3,444,496 8,600,379
Noncurrent Assets:

Land and construction in progress - - 279,992
Depreciable capital assets (net of depreciation) - - 6,987,332 Subscription assets (net of amortization) - - -
Total noncurrent assets - - 7,267,324
Total Assets 6,089,805 3,444,496 15,867,703

DEFERRED OUTFLOWS OF RESOURCES
Related to pension 169,884 147,404 458,956
Related to OPEB 31,851 10,296 109,451
Total deferred outflows of resources 201,735 157,700 568,407

LIABILITIES
Current Liabilities:

Accounts payable and other accruals 657,305 557,931 82,785 Accrued payroll 14,602 10,887 35,657
Interest payable - - -
Claims payable 1,650,000 1,266,000 -
Deposits payable - - -
Long-term debt:

Due within one year - - -
Total current liabilities 2,321,907 1,834,818 118,442
Noncurrent Liabilities:

Claims payable 2,789,379 4,121,883 -
Subscription liability - - -
Net Pension liability 622,918 540,490 1,682,861
Net OPEB liabilities 169,450 54,783 582,312
Long-term debt:

Due in more than one year - - -
Total noncurrent liabilities 3,581,747 4,717,156 2,265,173 Total liabilities 5,903,654 6,551,974 2,383,615

DEFERRED INFLOWS OF RESOURCES
Related to pension 2,687 2,332 7,260
Related to OPEB 29,225 9,448 100,430
Total deferred inflows of resources 31,912 11,780 107,690

NET POSITION
Net Investment in Capital Assets - - 7,267,324
Unrestricted 355,974 (2,961,558) 6,677,481
Total Net Position 355,974$ (2,961,558)$ 13,944,805$

INTERNAL SERVICE FUNDS

COMBINING STATEMENT OF NET POSITION
JUNE 30, 2024

EXHIBIT A
213
126
City of Livermore
Combining Statements of Net Position – Internal Service Funds Year Ended June 30, 2024
Facilities
Information Rehabilitation
Technology Projects Total
2,402,045$ 5,060,723$ 24,851,426$
- 88,676 344,755
- - 489,943
297,422 - 297,422
2,699,467 5,149,399 25,983,546
- 3,891,722 4,171,714
215,847 8,909,718 16,112,897
289,998 - 289,998
505,845 12,801,440 20,574,609
3,205,312 17,950,839 46,558,155
1,029,904 356,113 2,162,261
112,665 28,973 293,236
1,142,569 385,086 2,455,497
275,425 245,800 1,819,246
83,743 28,071 172,960
3,966 - 3,966
- - 2,916,000
- 160,453 160,453
- 921,084 921,084
363,134 1,355,408 5,993,709
- - 6,911,262
255,053 255,053
3,776,366 1,305,767 7,928,402
599,419 154,147 1,560,111
- 3,577,039 3,577,039
4,630,838 5,036,953 20,231,867
4,993,972 6,392,361 26,225,576
16,291 5,633 34,203
103,381 26,585 269,069
119,672 32,218 303,272
505,845 8,303,317 16,076,486
(1,271,608) 3,608,029 6,408,318
(765,763)$ 11,911,346$ 22,484,804$

EXHIBIT A
214
127
City of Livermore
Combining Statements of Revenues, Expenses and Changes in Net Position Year Ended June 30, 2024
Liability Fleet and
Insurance Workers Equipment
Reserve Compensation Services

OPERATING REVENUES
Charges for services 4,499,990$ 1,482,376$ 5,050,223$ Miscellaneous - 2,128 485,857
Total Operating Revenues 4,499,990 1,484,504 5,536,080

OPERATING EXPENSES
Salaries and benefits 390,312 313,365 560,816
Contracted services 509,541 171,620 35,459
Insurance premiums and claim expenses 3,325,687 2,686,556 91,049 Materials, supplies and others 23,097 57,557 833,651
Utilities 1,289 498 1,692
Depreciation and amortization - - 1,318,466
Repairs and maintenance 3,360 1,070 589,120
Total Operating Expenses 4,253,286 3,230,666 3,430,253
Operating Income (Loss) 246,704 (1,746,162) 2,105,827

NONOPERATING REVENUE (EXPENSES)
Interest and fiscal charges (expense) - - -
Other Nonoperating Income (expenses) (116,491) - 152,316 Gain (loss) on disposal of property - - 71,939
Net Nonoperating Revenues (Expenses) (116,491) - 224,255 Income (Loss) Before Transfers 130,213 (1,746,162) 2,330,082 Transfers in - - -
Transfers (out) - - -
Change in Net Position 130,213 (1,746,162) 2,330,082
Net position (deficit)-beginning, as previously reported 234,216 (1,212,663) 11,643,778 Restatement (Note 19) (8,455) (2,733) (29,055)
Net position (deficit)-beginning, as restated 225,761 (1,215,396) 11,614,723 Net position-ending 355,974$ (2,961,558)$ 13,944,805$

INTERNAL SERVICE FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR THE YEAR ENDED JUNE 30, 2024

EXHIBIT A
215
128
City of Livermore
Combining Statements of Revenues, Expenses and Changes in Net Position Year Ended June 30, 2024
Facilities
Information Rehabilitation
Technology Projects Total
2,350,056$ 2,000,000$ 15,382,645$
- 130,465 618,450
2,350,056 2,130,465 16,001,095
2,438,773 774,535 4,477,801
3,075,683 66,933 3,859,236
130,364 123,463 6,357,119
166,227 33,838 1,114,370
83,805 786,646 873,930
253,514 432,953 2,004,933
521,177 1,223,856 2,338,583
6,669,543 3,442,224 21,025,972
(4,319,487) (1,311,759) (5,024,877)
(7,598) (128,667) (136,265)
- - 35,825
- - 71,939
(7,598) (128,667) (28,501)
(4,327,085) (1,440,426) (5,053,378)
- 3,981,000 3,981,000
- - -
(4,327,085) 2,540,574 (1,072,378)
3,591,230 9,378,463 23,635,024
(29,908) (7,691) (77,842)
3,561,322 9,370,772 23,557,182
(765,763)$ 11,911,346$ 22,484,804$

EXHIBIT A
216
129
City of Livermore
Combining Statements of Cash Flow
Year Ended June 30, 2024
Liability Fleet and
Insurance Workers Equipment
Reserve Compensation Services

CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers 4,497,322$ 1,484,504$ 5,394,292$ Payments to suppliers (4,021) 204,227 (1,938,777)
Payments to or on behalf of employees (359,355) (292,602) (1,069,820) Claims paid (3,270,836) (2,542,342) -
Net cash provided (used) by operating activities 863,110 (1,146,213) 2,385,695

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Capital asset purchase - - (1,750,978)
Proceeds from sale of capital assets - - 71,939
Long term Debt
Repayments - - -
Interest paid - - -
Cash Flows (used for) Capital and Related
Financing Activities - - (1,679,039)

CASH FLOWS FROM INVESTING ACTIVITIES
Investment income (loss) (116,491) - 152,316
Cash Flow from (used by) Investing Activities (116,491) - 152,316 Net Cash Flows 746,619 (1,146,213) 858,972
Cash and investments at beginning of period 5,340,518 4,590,709 6,998,053 Cash and Investment at end of period 6,087,137$ 3,444,496$ 7,857,025$ Reconciliation of operating income (loss) to net cash
provided by operating activities:

Operating income 246,704$ (1,746,162)$ 2,105,827$ Adjustments to reconcile operating income (loss) to net cash provided by operating activities:

Depreciation - - 1,318,466
Change in assets and liabilities:

Accounts receivable (2,668) - (141,788)
Prepaids, deposits and supplies - - (128,869)
Deferred outflows 19,568 19,399 308,616
Net pension liability 61,419 21,952 (618,758)
Net OPEB liabilities (70,585) (22,817) (242,556)
Accounts payable and accrued liabilities 533,266 434,972 (264,031) Accrued payroll 3,873 1,319 -
Subscription liability - - -
Claims payable 54,851 144,214 -
Deferred inflows 16,682 910 48,788
Net cash provided (used) by operating activities 863,110$ (1,146,213)$ 2,385,695$

INTERNAL SERVICE FUNDS

COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2024

EXHIBIT A
217
130
City of Livermore
Combining Statements of Cash Flow
Year Ended June 30, 2024
Facilities
Information Rehabilitation
Technology Projects Total
2,349,881$ 2,273,219$ 15,999,218$
(4,010,255) (2,814,473) (8,563,299)
(2,553,498) (761,973) (5,037,248)
- - (5,813,178)
(4,213,872) (1,303,227) (3,414,507)
(1) (2,798,278) (4,549,257)
- - 71,939
84,542 (856,119) (771,577)
(9,619) (128,667) (138,286)
74,922 (3,783,064) (5,387,181)
- - 35,825
- - 35,825
(4,138,950) (1,105,291) (4,784,863)
6,540,995 6,166,014 29,636,289
2,402,045$ 5,060,723$ 24,851,426$
(4,319,487)$ (1,311,759)$ (5,024,877)$
253,514 432,953 2,004,933
(175) 20,779 (123,852)
(192,990) 121,975 (199,884)
141,598 63,118 552,299
(60,190) 6,727 (588,850)
- (64,208) (400,166)
178,549 (577,270) 305,486
- - 5,192
(167,706) - (167,706)
- - 199,065
(46,985) 4,458 23,853
(4,213,872)$ (1,303,227)$ (3,414,507)$

EXHIBIT A
218
131
City of Livermore
Custodial Funds
June 30, 2024
Custodial Funds
Custodial funds are used to account for assets held by the City for other entities and individuals. Such funds are operated to carry out the specific actions of trust agreements, ordinances, and other governing regulations.

Community Facilities and Assessment Districts’ Bonds
This fund accounts for the collection of property owners' debt service obligation which is used to pay principal and interest on 1915 Act Bonds.

Other Custodial Funds
This fund accounts for assets which are held for other governmental agencies or individuals by the City in a custodial capacity.

EXHIBIT A
219
132
City of Livermore
Combining Statement of Fiduciary Net Position – Custodial Funds Year Ended June 30, 2024
Passthrough LPFD JPA
Funds JPA Total
ASSETS
Cash and investments in City Treasury (Note 3B) 11,174,365$ 4,850,590$ 16,024,955$ Cash and investments with Trustees (Note 3B) 2,365,844 - 2,365,844 Accounts receivable 3,797 80,006 83,803
Prepaid expenses - - -
Total Assets 13,544,006 4,930,596 18,474,602

LIABILITIES
Accrued liabilities 1,764,243 2,442,822 4,207,065
Deposits payable 5,733,426 - 5,733,426
Total Liabilities 7,497,669 2,442,822 9,940,491

NET POSITION
Held in trust 6,046,337$ 2,487,774$ 8,534,111$

CUSTODIAL FUNDS

COMBINING STATEMENT OF FIDUCIARY NET POSITION
JUNE 30, 2024

EXHIBIT A
220
133
City of Livermore
Combining Statement of Changes in Fiduciary Net Position Year Ended June 30, 2024
Passthrough LPFD JPA Total

ADDITIONS
Charges for services 4,431,567$ 48,763,923$ 53,195,490$ Total Additions 4,431,567 48,763,923 53,195,490

DEDUCTIONS
Recipient Payments 4,888,516 46,776,150 51,664,666
Total Deductions 4,888,516 46,776,150 51,664,666
Net Change in Net Position (456,949) 1,987,773 1,530,824

NET POSITION
Beginning Net Position (Note 9F) 6,503,286 500,001 7,003,287 End of year 6,046,337$ 2,487,774$ 8,534,111$

CUSTODIAL FUNDS

COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION FOR THE YEAR ENDED ON JUNE 30, 2024

EXHIBIT A
221
Statistical Section (Unaudited)
June 30, 2024
City of Livermore

EXHIBIT A
222
This Page Intentionally Left Blank

EXHIBIT A
223
134
City of Livermore
Description of Statistical Section Contents
Year Ended June 30, 2024
This part of the City of Livermore’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 government’s overall financial health.

Contents:

Pages
Financial Trends theses schedules contain trend information to help the reader understand how the government’s financial performance and well-being have changed over time. 135 - 141
Revenue Capacity these schedules contain information to help the reader assess the government’s two most significant local revenue source – the sales tax and property tax. 142 - 148
Debt Capacity these schedules present information to help the reader assess the affordability of the government’s current levels of outstanding debt and the government’s ability to issue additional debt in the future. 149 - 151 Demographic and Economic Information these schedules offer demographic and economic indicators to help the reader understand the environment within which the government’s financial activities take place. 152 - 154 Operating Information these schedules contain service and infrastructure data to help the reader understand how the information in the government’s financial report relates to the services the government provides and the activities it performs. 155 - 163 Livermore Successor Agency these schedules contain information to help the reader assess the Livermore RDA’s revenues, debt service, and other indicators. 164 - 166 Sources:

Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive Financial Reports for the relevant year.

EXHIBIT A
224
135
City of Livermore
Net Position by Component
Last Ten Fiscal Years (Accrual Basis of Accounting)
(accrual basis of accounting)
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Governmental activities
Net investment in capital assets 282,932,408$ 286,589,221$ 288,382,796$ 290,283,699$ 308,461,598$ 316,407,161$ 316,616,522$ 329,890,590$ 330,015,760$ 313,739,575$ Restricted 61,824,573 78,250,270 76,320,882 92,305,699 81,561,447 88,497,962 145,907,840 137,933,441 195,996,622 187,241,179 Unrestricted (59,176,525) (36,129,816) (20,113,778) (31,158,732) (28,940,594) (35,517,921) (79,949,428) (74,637,389) (91,551,961) (58,891,579) Total governmental activities net position 285,580,456$ 328,709,675$ 344,589,900$ 351,430,666$ 361,082,451$ 369,387,202$ 382,574,934$ 393,186,642$ 434,460,421$ 442,089,175$ Business-type activities
Net investment in capital assets 141,163,645$ 137,068,262$ 139,333,158$ 141,811,387$ 132,533,193$ 144,490,755$ 144,545,798$ 140,388,714$ 139,173,883$ 153,013,844$ Unrestricted 91,680,464 96,819,619 94,747,853 102,114,754 113,918,054 112,447,010 113,873,028 121,205,214 129,226,153 129,314,092 Total business-type activities net position 232,844,109$ 233,887,881$ 234,081,011$ 243,926,141$ 246,451,247$ 256,937,765$ 258,418,826$ 261,593,928$ 268,400,036$ 282,327,936$ Primary government
Net investment in capital assets 424,096,053$ 423,657,483$ 427,715,954$ 432,095,086$ 440,994,791$ 460,897,916$ 461,162,320$ $470,279,304 469,189,643$ 466,753,419$ Restricted 61,824,573 78,250,270 76,320,882 92,305,699 81,561,447 88,497,962 145,907,840 137,933,441 195,996,622 187,241,179 Unrestricted 32,503,939 60,689,803 74,634,075 70,956,022 84,977,460 76,929,089 33,923,600 46,567,825 37,674,192 70,422,513 Total primary government net position 518,424,565$ 562,597,556$ 578,670,911$ 595,356,807$ 607,533,698$ 626,324,967$ 640,993,760$ $654,780,570 702,860,457$ 724,417,111$ Net Position by Component
Last Ten Fiscal Years

EXHIBIT A
225
136
City of Livermore
Changes in Net Position
Last Ten Fiscal Years (Accrual Basis of Accounting)
2015 2016 2017 * 2018 2019 2020 2021 2022 2023 2024
Expenses
Governmental activities
General Government 11,880,499$ 11,433,092$ 11,513,994$ 15,729,502$ 18,619,685$ 23,532,602$ 15,550,878$ 14,261,204$ 15,486,750$ 19,629,578$ Fire 16,665,396 17,222,099 23,553,737 25,472,063 20,854,960 21,975,048 24,427,677 21,113,001 25,376,744 28,701,042 Police 30,516,594 29,624,394 32,703,145 36,741,948 37,862,170 37,301,780 40,395,532 38,985,776 40,999,419 41,272,623 Public Works 14,363,304 14,985,937 18,116,391 19,060,229 19,290,328 19,665,609 21,662,957 23,798,519 21,412,309 25,620,346 Community Development 15,711,525 27,302,011 22,044,584 20,012,366 36,444,392 32,628,435 24,802,552 26,558,158 21,514,818 33,484,650 Economic Development - - 2,353,896 2,165,309 2,820,265 2,805,692 4,418,752 2,596,471 2,901,245 3,219,699 Library 4,863,723 4,886,840 5,858,998 6,214,109 6,341,564 6,349,762 6,303,545 6,302,537 6,913,509 8,758,604 Redevelopment - - - - - - - - - -
Interest on long term debt 1,288,881 1,033,661 1,266,179 1,270,061 1,397,328 1,682,372 1,219,276 1,127,846 2,779,617 2,755,773 Total governmental activities expenses 95,289,922 106,488,034 117,410,924 126,665,587 143,630,692 145,941,300 138,781,169 134,743,512 137,384,411 163,442,315 Business-type activities:

Airport 5,637,480 3,870,139 7,017,908 3,016,304 3,504,956 4,250,953 4,022,246 3,498,840 3,030,841 3,417,759 Water 9,907,976 10,996,708 13,884,791 14,701,669 15,934,857 15,625,538 18,821,642 17,126,698 18,333,679 19,510,518 Sewer 23,005,606 25,293,809 24,879,897 21,824,590 24,081,018 24,049,671 24,026,163 23,822,392 25,174,657 27,057,675 Stormwater - - - 4,572,368 6,215,290 5,157,718 5,341,864 5,075,457 5,282,516 7,534,272 Las Positas 3,331,686 3,204,730 2,935,020 3,025,888 1,986,853 - - - - - Springtown 32,171 105,030 - - - - - - - -
Total business-type activities expenses 41,914,919 43,470,416 48,717,616 47,140,819 51,722,974 49,083,880 52,211,915 49,523,387 51,821,693 57,520,224 Total primary government expenses 137,204,841$ 149,958,450$ 166,128,540$ 173,806,406$ 195,353,666$ 195,025,180$ 190,993,084$ 184,266,899$ 189,206,104$ 220,962,539$ * Starting fiscal year 2017, City Clerk is presented as a part of Administrative Services (Continued) * Starting fiscal year 2018, Stormwater is presented separately from Sewer Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)

EXHIBIT A
226
137
City of Livermore
Changes in Net Position
Last Ten Fiscal Years (Accrual Basis of Accounting)
2015 2016 2017 * 2018 2019 2020 2021 2022 2023 2024
Program Revenues
Governmental activities:

Charges for services:

General Government 1,083,813$ 855,888$ 1,534,690$ 2,009,308$ 1,598,885$ 1,502,556$ 1,203,282$ 682,277$ 897,891$ 507,694$ Fire 1,634,534 1,822,267 1,813,604 2,560,405 767,507 1,339,356 1,150,341 2,202,529 1,125,366 1,328,778 Police 1,600,551 1,718,669 1,596,383 1,866,310 1,936,452 1,781,262 1,664,591 1,848,328 1,287,389 1,687,073 Public Works 205,163 220,715 253,942 214,104 319,336 237,566 237,986 240,778 249,909 352,778 Community Development 14,881,608 19,070,042 13,679,642 12,374,344 8,685,435 12,068,342 9,082,146 11,234,653 13,154,684 12,406,533 Economic Development - - - - - - - - - -
Library 121,244 113,218 109,423 106,819 102,007 29,584 935 5,257 10,508 9,327 Redevelplment - - - - - - - - - -
Operating grants and contributions 19,882,483 14,034,381 10,152,472 17,851,251 14,944,050 16,349,423 19,784,517 17,750,934 15,797,120 12,223,300 Capital grants and contributions 20,161,044 21,329,334 10,968,620 22,984,924 11,646,318 12,379,725 9,478,790 4,947,988 3,300,912 9,990,971 Total governmental activities program revenues 59,570,440 59,164,514 40,108,776 59,967,465 39,999,990 45,687,814 42,602,588 38,912,744 35,823,779 38,506,454 Business-type activities:

Charges for services:

Airport 6,166,771 4,671,643 3,989,363 3,638,327 3,949,727 3,988,814 3,807,332 3,426,583 3,542,766 3,701,340 Water 13,211,780 12,567,619 13,790,365 15,088,661 14,871,772 16,757,972 17,610,383 17,640,764 17,392,495 18,401,633 Sewer 20,401,801 22,853,237 20,438,612 21,391,758 22,944,348 24,535,578 25,604,994 28,379,195 30,144,505 35,910,036 Stormwater - 1,112,473 1,136,319 1,137,063 1,134,233 1,145,489 1,154,925 1,156,367 Las Positas 3,087,554 3,016,898 2,636,577 2,733,407 1,628,472 - - - - - Springtown 6,173 3,694 - - - - - - - - Operating grants and contributions - - 3,079,962 199,428 643,541 - 374,526 512,162 568,394 836,720 Capital grants and contributions 2,691,864 50,450 4,269,465 7,025,848 7,342,209 7,381,049 2,988,779 1,679,990 2,710,316 2,332,386 Total business-type activities program revenues 45,565,943 43,163,541 48,204,344 51,189,902 52,516,388 53,800,476 51,520,247 52,784,183 55,513,401 62,338,482 Total primary government program revenues 105,136,383$ 102,328,055$ 88,313,120$ 111,157,367$ 92,516,378$ 99,488,290$ 94,122,835$ $91,696,927 91,337,180$ 100,844,936$ Net (Expense) Revenue
Governmental activities (35,719,482)$ (47,323,520)$ (77,302,148)$ (66,698,122)$ (103,630,702)$ (100,253,486)$ (96,178,581)$ (95,830,768)$ (101,560,632)$ (124,935,861)$ Business-type activities 3,651,024 (306,875) (513,272) 4,049,083 793,414 4,716,596 (691,668) 3,260,796 3,691,708 4,818,258 Total primary government net expenses (32,068,458)$ (47,630,395)$ (77,815,420)$ (62,649,039)$ (102,837,288)$ (95,536,890)$ (96,870,249)$ (92,569,972)$ (97,868,924)$ (120,117,603)$ (Continued)
Last Ten Fiscal Years
(accrual basis of accounting)
Changes in Net Position

EXHIBIT A
227
138
City of Livermore
Changes in Net Position
Last Ten Fiscal Years (Accrual Basis of Accounting)
2015 2016 2017 * 2018 2019 2020 2021 2022 2023 2024
General Revenues and Other Changes in Net Position
Governmental activities:

Taxes:

Property taxes 26,379,108$ 28,340,602$ 30,494,247$ 32,960,384$ 35,577,827$ 37,797,380$ 38,874,958$ 40,754,977$ 44,792,322$ 46,585,299$ Incremental property taxes - - - - - - - - - -
Sales taxes 27,278,151 29,932,022 30,684,026 32,346,374 35,556,493 32,869,001 35,441,550 39,907,361 39,032,166 39,562,251 Other taxes 13,587,065 15,204,335 15,429,188 17,211,775 16,895,027 16,253,107 16,150,202 18,389,594 25,852,840 26,500,055 Intergovernmental 6,506,780 6,964,071 7,411,648 7,897,068 8,417,344 8,962,999 9,417,844 10,029,277 12,176,887 13,494,977 Investment income 952,239 1,782,742 757,516 1,295,887 6,928,825 8,520,096 1,573,776 (7,655,464) 3,969,590 11,527,765 Miscellaneous 8,313,221 8,430,147 8,608,485 6,655,867 5,508,154 6,001,803 6,442,577 7,960,003 8,816,246 6,150,811 Change of value from investment in JPA - - - - (1,354,554) (1,522,359) - - - - Transfers (net) (4,258,088) (201,180) (202,737) (12,507,742) 3,794,799 (323,790) (1,767,363) (2,943,272) (2,299,891) (3,470,000) Total governmental activities 78,758,476 90,452,739 93,182,373 85,859,613 111,323,915 108,558,237 106,133,544 106,442,476 132,340,160 140,351,158 Business-type activities:

Interest and other income 388,004 1,034,225 293,279 711,495 4,250,989 3,293,931 405,366 (3,028,966) 810,299 5,857,983 Transfers (net) 4,258,088 201,180 202,737 12,507,742 (3,794,799) 323,790 1,767,363 2,943,272 2,299,891 3,470,000 Change in value of Investment in JPA 39,878 115,242 210,386 329,595 1,275,502 445,399 - - - - Total business-type activities 4,685,970 1,350,647 706,402 13,548,832 1,731,692 4,063,120 2,172,729 (85,694) 3,110,190 9,327,983 Total primary government activities 83,444,446$ 91,803,386$ 93,888,775$ 99,408,445$ 113,055,607$ 112,621,357$ 108,306,273$ $106,356,782 135,450,350$ 149,679,141$ Change in Net Position
Governmental activities 43,038,994$ 43,129,219$ 15,880,225$ 19,161,491$ 7,693,213$ 8,304,751$ 9,954,963$ $10,611,708 30,779,528$ 15,415,297$ Business-type activities 8,336,994 1,043,772 193,130 17,597,915 2,525,106 8,779,716 1,481,061 3,175,102 6,801,898 14,146,241 Total primary government 51,375,988$ 44,172,991$ 16,073,355$ 36,759,406$ 10,218,319$ 17,084,467$ 11,436,024$ $13,786,810 37,581,426$ 29,561,538$ Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)

EXHIBIT A
228
139
City of Livermore
Fund Balances of Governmental Funds
Last Ten Fiscal Years (Modified Accrual Basis of Accounting) 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
General Fund
Nonspendable 5,423,421$ 5,220,875$ 5,191,768$ 6,911,157$ 5,712,441$ 5,627,682$ 5,609,833$ 5,844,210$ 5,713,684$ 5,540,349$ Committed 12,897,711 13,980,181 14,534,792 15,689,514 15,954,446 16,561,703 17,419,222 18,137,383 18,537,548 20,682,015 Assigned 8,598,474 16,490,551 17,891,417 20,120,563 22,359,001 24,905,533 29,677,300 43,006,790 59,058,156 53,568,176 Unassigned 10,406,034 11,447,929 16,850,333 20,197,806 21,015,747 22,903,595 24,471,138 1,794,772 620,364 12,259,873 Total general fund 37,325,640$ 47,139,536$ 54,468,310$ 62,919,040$ 65,041,635$ 69,998,513$ 77,177,493$ 68,783,155$ 83,929,752$ 92,050,413$ All Other Governmental Funds
Nonspendable 4,000$ -$ 3,580$ 510,525$ 540,789$ 537,935$ 521,482$ 589,503$ 613,264$ 3,000$ Restricted 82,222,196 106,877,672 117,117,738 122,335,628 107,752,207 106,314,261 115,657,837 107,008,330 187,443,027 180,862,130 Committed - - - 980,960 1,583,505 2,597,943 2,597,943 2,597,943 2,597,943 2,907,557 Unassigned (548) - (157,775) (66,518) (337,703) - - - - (454,071) Total all other governmental funds 82,225,648$ 106,877,672$ 116,963,543$ 123,760,595$ 109,538,798$ 109,450,139$ 118,777,262$ 110,195,776$ 190,654,234$ 183,318,616$ Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)

EXHIBIT A
229
140
City of Livermore
Changes in Fund Balances of Governmental Fund
Last Ten Fiscal Years (Modified Accrual Basis of Accounting) 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Revenues
Property Taxes and special assessments 42,437,878$ 46,106,890$ 48,513,433$ 52,797,891$ 55,378,923$ 57,137,281$ 58,827,934$ 63,508,257$ 70,645,162$ 73,038,633$ Sales taxes 27,278,151 29,932,022 30,684,026 32,346,374 35,556,493 32,869,001 35,441,550 39,907,361 39,032,166 39,562,251 Licenses and permits 2,919,585 3,375,139 2,587,073 3,329,443 2,647,472 2,408,482 2,587,449 4,236,642 3,952,512 3,361,835 Intergovernmental 17,513,836 15,818,812 15,329,383 18,609,342 19,663,932 21,151,712 27,824,580 26,390,007 22,029,372 24,649,213 Contributions from outside sources 6,407,835 1,492,046 3,360,435 12,763,436 3,668,666 1,735,332 395,011 625,103 605,984 1,574,485 Fines and forfeitures 474,279 404,562 382,735 472,063 522,198 480,714 12,837,128 444,025 394,263 345,344 Charges for current services 34,250,853 39,071,843 23,669,667 25,413,665 15,988,594 20,392,611 5,322,238 14,008,997 16,364,892 20,292,871 Use of money and property 3,573,515 5,106,185 3,718,382 4,594,593 12,607,413 12,667,441 4,222,473 (4,288,535) 5,258,816 15,119,762 Miscellaneous 7,731,071 8,218,597 2,754,329 4,344,239 1,820,316 1,338,085 2,311,612 2,862,290 10,157,389 5,956,716 Total revenues 142,587,003 149,526,096 130,999,463 154,671,046 147,854,007 150,180,659 149,769,975 147,694,147 168,440,556 183,901,110 Expenditures
General government 13,981,528 14,343,118 13,531,789 13,631,535 15,040,356 16,768,256 13,826,319 15,881,178 15,898,607 16,626,689 Fire 16,392,361 17,593,133 18,160,089 19,742,654 21,484,772 21,963,399 22,765,664 24,292,024 24,953,858 28,058,266 Police 32,114,470 31,248,269 32,611,631 35,474,413 37,991,489 37,855,355 39,584,317 41,583,398 43,514,564 44,867,049 Public Works 6,479,506 7,125,447 9,801,590 10,649,264 10,858,274 11,296,986 13,093,994 15,942,006 12,082,789 13,504,938 Community Development 23,177,157 26,435,968 22,366,625 26,613,789 41,744,030 31,872,893 23,269,924 28,304,312 20,728,682 27,230,944 Economic Development - - 2,355,266 2,169,717 2,815,442 2,826,509 4,435,600 2,912,656 2,980,164 2,727,444 Library 4,455,160 4,540,660 5,287,778 5,639,115 5,665,784 5,896,798 5,626,180 6,387,640 6,472,650 6,899,323 Redevelopment - - - - - - - - - - Capital outlay 18,897,678 6,211,698 4,065,706 9,106,715 20,651,425 11,028,144 10,629,079 22,565,242 13,105,912 21,114,678 Debt service funds:

Principal 4,703,788 5,597,905 3,908,648 3,274,972 2,817,102 3,125,453 122,607 3,287,228 4,375,867 4,737,698 Interest and fiscal charges 1,872,291 1,555,850 1,292,959 1,274,238 1,400,431 1,505,596 1,375,594 1,746,920 2,888,474 3,404,696 Issuance cost - - - - - 407,260 - - - - Total Expenditures 122,073,939 114,652,048 113,382,081 127,576,412 160,469,105 144,546,649 134,729,278 162,902,604 147,001,567 169,171,725 Excess of Revenues
over (under)
expenditures 20,513,064 34,874,048 17,617,382 27,094,634 (12,615,098) 5,634,010 15,040,697 (15,208,457) 21,438,989 14,729,385 (Continued)
Changes In Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)

EXHIBIT A
230
141
City of Livermore
Changes in Fund Balances of Governmental Fund
Last Ten Fiscal Years (Modified Accrual Basis of Accounting) 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Other Financing
Sources (Uses)
Proceeds from long term debt 49,776,268$ -$ -$ -$ -$ -$ -$ -$ 41,558,955$ -$ Payment to refunded bond escrow agent (39,411,268) - - - - (51,296,699) - - - - Refunding bonds issued - - - - - 42,932,418 - - - -
Premium on refunding bonds issued - - - - - 7,922,280 - - - - Transfers in 58,411,053 8,915,955 8,774,169 8,914,189 5,744,041 56,604,093 3,212,134 6,510,390 6,672,696 8,302,452 Transfers out (58,229,692) (9,324,083) (8,976,906) (20,951,304) (7,186,717) (56,927,883) (4,979,497) (8,277,757) (8,972,587) (15,753,452) Total other financing
sources (uses) 10,546,361 (408,128) (202,737) (12,037,115) (1,442,676) (765,791) (1,767,363) (1,767,367) 39,259,064 (7,451,000) Net change in
fund balances 31,059,425$ 34,465,920$ 17,414,645$ 15,057,519$ (14,057,774)$ 4,868,219$ 13,273,334$ (16,975,824)$ 60,698,053$ 7,278,385$ Debt service as a
percentage of noncapital
expenditures 6.4% 6.6% 4.8% 3.8% 3.0% 3.5% 1.2% 3.6% 5.4% 5.5% (modified accrual basis of accounting)
Changes In Fund Balances of Governmental Funds
Last Ten Fiscal Years

EXHIBIT A
231
142
City of Livermore
Taxable Sales by Category
Last Ten Fiscal Years
Business Type 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Apparel Stores $ 307,674 $ 374,135 $ 463,533 $ 481,639 $ 518,984 $ 534,128 $ 272,264 $ 446,379 $ 491,940 $ 514,952 General Merchandise 239,714 237,252 239,903 248,531 256,781 264,587 231,840 267,865 292,341 280,798 Food Stores 41,828 43,382 44,270 44,271 45,206 44,334 48,146 46,423 47,106 46,746 Eating and Drinking Places 163,118 176,523 193,331 200,835 209,541 217,431 161,627 218,223 247,799 258,294 Building Materials 180,357 211,876 223,778 242,577 263,116 244,488 252,777 295,803 314,489 282,013 Auto Dealers and Supplies 387,808 447,076 454,236 468,415 469,931 512,168 402,481 415,633 433,801 397,152 Service Stations 192,424 160,878 150,389 168,825 199,928 193,527 135,983 190,717 227,080 207,932 Other Retail Stores 190,948 208,524 218,332 218,677 227,634 225,905 183,504 213,529 233,459 229,833 All Other Outlets 555,559 575,804 579,353 715,998 767,406 773,622 741,580 845,784 1,703,226 1,685,648 Total $ 2,259,430 $ 2,435,450 $ 2,567,125 $ 2,789,768 $ 2,958,527 $ 3,010,190 $ 2,430,202 $ 2,940,356 $ 3,991,241 $ 3,903,368 Source: The HdL Companies
* The amounts reported are based on adjusted sales tax values and might fluctuate from what was reported the previous year. This is the most recent information available TAXABLE SALES BY CATEGORY *

LAST TEN CALENDAR YEARS
(In thousands)

EXHIBIT A
232
143
City of Livermore
Direct and Overlapping Sales Tax Rates
Last Ten Fiscal Years (In Percentage)
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
City Direct Rate 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% Alameda County 2.25% (a) 2.25% 2.25% 2.25% 2.25% 2.25% 2.25% 3.25% (c) 3.25% 3.25% State of California 6.25% 6.25% 6.00% (b) 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% Total Rate 9.50% 9.50% 9.25% 9.25% 9.25% 9.25% 9.25% 10.25% 10.25% 10.25% (a) FY 2014-15 Alameda County rate increased by 0.50%
(b) FY 2016-17 State rate was reduced by 0.25%
(c) FY 2021-22 Alameda County rate increased by 1.00%
Direct and Overlapping Sales Tax Rates
Last Ten Fiscal Years
(In Percentage)

EXHIBIT A
233
144
City of Livermore
Principal Sales Tax Payers
Current Year and Ten Years Ago (In alphabetical Order)
2023 2014
AMS Net AMS Net
Audi Livermore Coach
Bauer Compressors Costco
Coach Harris Rebar
Computacenter Fusionstorm Home Depot
Costco JA Momaney Services
Gillig Jifco
Gucci Outlet Kaiser Pharmacy
Home Depot Kate Spade
JA Momaney Services Livermore Ford/Lincoln/Alfa/Maserati Jifco Livermore Honda
Land Rover Jaguar Livermore Livermore Toyota
Livermore Ford/Lincoln/Alfa/Maserati Lowes
Livermore Honda Macpherson Western Tool Supply
Livermore Subaru Mobile Modular Management Corp
Livermore Toyota Porsche Livermore
Lowes Prada
Porsche Livermore Quik Stop Market
Safeway Safeway
Safeway Fuel Safeway Fuel
Target Solar Universe
Total Industries Target
US Foodservice US Food Service
Walmart Walmart
Waxie Sanitary Supply Waxies
Source: HdL Company
Principal Sales Tax Payers
Current Year and Nine Years Ago
Data in Calendar Years
In Alphabetical Order

EXHIBIT A
234
145
City of Livermore
Assessed Value and Estimates Taxable Property
Last Ten Fiscal Years
Total Total
Taxable Direct
Common Public Unsecured Assessed Tax
Fiscal Year Property Utility Valuation Valuation Rate*
2014-2015 14,441,874,348 15,920,292 618,857,248 15,076,651,888 1.00% 2015-2016 15,425,274,831 16,125,723 644,740,332 16,086,140,886 1.00% 2016-2017 16,462,710,778 16,036,533 669,293,841 17,148,041,152 1.00% 2017-2018 17,584,794,540 13,149,678 665,835,413 18,263,779,631 1.00% 2018-2019 18,716,232,125 13,261,314 742,728,963 19,472,222,402 1.00% 2019-2020 19,706,452,617 12,659,804 887,677,095 20,606,789,516 1.00% 2020-2021 20,739,018,910 12,463,593 890,242,048 21,641,724,551 1.00% 2021-2022 21,764,066,539 27,593,705 908,083,685 22,699,743,929 1.00% 2022-2023 22,988,612,094 27,850,904 958,541,900 23,975,004,898 1.00% 2023-2024 24,105,554,462 27,981,451 1,045,547,695 25,179,083,608 1.00% Note:
* Direct tax rate is per $1,000 of assessed value.

Source: Alameda County Office of the Auditor-Controller.

Assessed Value and Estimated Taxable Property
Last Ten Fiscal Years
In 1978 the voters of the State of California passed Proposition 13 which limited property taxes to a total maximum rate of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased by an "inflation factor" (limited to a maximum increase of 2%). With few exceptions, property is only reassessed at the time that it is sold to a new owner. At that point, the new assessed value is reassessed at the purchese 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.

EXHIBIT A
235
146
City of Livermore
Direct and Overlapping Governments Property Tax Rates
Last Ten Fiscal Years
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Direct Rates:

City Direct Rate 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 Overlapping Rates (1):

Livermore Valley Joint Unified School District 0.0497 0.0404 0.0886 0.0803 0.0771 0.0743 0.0691 0.0706 0.0638 0.054 Chabot Las Positas 0.0217 0.0198 0.0246 0.0445 0.0443 0.0422 0.0214 0.0458 0.0388 0.0416 Pleasanton Unified School District 0.0695 0.0239 0.0224 0.0672 0.0640 0.0642 0.0580 0.0435 0.0422 0.0828 Zone 7 Flood Control 0.0250 0.0343 0.0333 0.0359 0.0332 0.0309 0.0309 0.0307 0.0279 0.0267 Bay Area Rapid Transit 0.0045 0.0026 0.0080 0.0084 0.0070 0.0120 0.0139 0.0060 0.014 0.0134 East Bay Regional Park 0.0085 0.0067 0.0032 0.0021 0.0057 0.0060 0.0014 0.0020 0.0058 0.0057 County General Obligation Bond 0.0112 0.0108 0.0036 0.0041 0.0103 0.0088 Total Direct and Overlapping Rate 1.1789 1.1277 1.1801 1.2384 1.2425 1.2404 1.1983 1.2027 1.2028 1.2330 Source: Alameda County Treasurer and Tax Collector.

Note:
(1) Overlapping rates are those of local and county governments that apply to property owners within the City of Livermore. Not all overlapping rates apply to all property owners. For an overlapping rate to apply, the property has to be located within that district's geographic boundary.

Direct and Overlapping Governments Property Tax Rates
(Rates per $1,000 of assessed value)
Last Ten Fiscal Years

EXHIBIT A
236
147
City of Livermore
Principal Property Taxpayers
Current Year and Nine Years Ago
Taxable Percentage Taxable Percentage
Assessed of Total City Assessed of Total City
Value Taxable Value Taxable
Secured/ Assessed Secured/ Assessed
Taxpayer Unsecured Rank Value Unsecured Rank Value
Livermore Premium Outlets LLC 236,658,068$ 1 0.93% 150,683,826$ 1 1.02% Lam Research Corporations 155,873,385 2 0.61%
Westcore Bravo Livermore LLC 154,309,258 3 0.61% Longfellow Logistics Center LLC 142,959,120 4 0.56% Form Factor Inc 129,332,689 5 0.51% 55,534,300 3 0.38% Kaiser 128,638,188 6 0.51% 109,430,945 2 0.74% Arkay Properties LLC 111,510,999 7 0.44%
Pool 2 Industrial California LLC 94,044,510 8 0.37% Livermore Multifamily Owner LLC 85,325,734 9 0.34% 'Raintree Ironwood LLC 84,887,478 10 0.33% 52,588,431 4 0.36% Valley Care Senior Housing Inc 52,272,025 5 0.35% RT Tri Valley LLC 51,596,020 6 0.35%
Sequoia Equities Mill Springs 46,762,821 7 0.32% Marathon Drive Buildings LLC 44,836,169 8 0.30% Sutter Health 41,531,247 9 0.28%
BNP Paribas Leasing Corporation 39,283,763 10 0.27% 1,323,539,429$ 5.21% 644,519,547$ 4.37%
Source: HdL Company
Principal Property Taxpayers
Current Year and Nine Years Ago
2024 2015

EXHIBIT A
237
148
City of Livermore
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal
Year Taxes Levied Delinquent Delinquent Tax
Ended for the Percentage Property Taxes Collections
June 30, Fiscal Year (a) Amount of Levy for the Fiscal Year (Refund) (b) 2015 26,171,312$ 26,034,522$ 99.48% 136,790$ (7,631)$ 2016 27,839,513 27,718,828 99.57% 120,685 320,482 2017 29,014,829 28,341,709 97.68% 673,120 321,785 2018 31,087,296 30,559,069 98.30% 528,227 338,288 2019 33,273,066 32,570,581 97.89% 702,485 533,453 2020 35,368,204 34,740,288 98.22% 627,916 341,676 2021 36,930,452 36,077,734 97.69% 852,718 451,056 2022 38,114,809 37,598,776 98.65% 516,033 414,496 2023 41,369,080 40,870,045 98.79% 499,035 371,527 2024 43,552,728 43,327,514 99.48% 225,214 412,414 Source: Alameda County Office of the Auditor-Controller and City of Livermore Finance Division (a) Taxes Levied include secured, unsecured, and estimated unitary tax.

Tax levies are net of payments for
- Educational Revenue Augmentation Fund.
- Redevelopment agencies for the fiscal years 2005-06 through 2011-12 - Redevelopment Property Tax Trust Fund (RPTTF) payments beginning from Fiscal year 2012-13. (b) Alameda County does not provide delinquent tax collection data by levy year, so the amounts shown in the delinquent tax collections column include delinquency collections for all prior years that were remitted to the Property Tax Levies and Collections
Last Ten Fiscal Years
Collected within the
Fiscal Year of the Levy

EXHIBIT A
238
149
City of Livermore
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Certificates Notes & Financed Certificates Financed Total Percentage Fiscal of Loans Purchases and of Revenue State Purchases and Primary of Personal Per Year Participation Payable SBITA Participation Loans Loan SBITA Government Income (1) Capita 2015 64,032,534$ 3,970,233$ 11,668,003$ 15,348,123$ -$ -$ 740,467$ 95,759,360$ 6.6% 1,129$ 2016 60,193,384 2,566,738 11,330,801 14,186,182 - - 619,257 88,896,362 5.5% 1,009 2017 56,386,950 2,440,343 10,300,691 13,003,050 - - 512,946 82,643,980 7.5% 922 2018 53,758,606 1,793,715 9,152,150 12,336,394 - - 392,972 77,433,837 8.5% 847 2019 54,295,394 1,667,320 8,189,116 8,429,606 - - 321,293 72,902,729 9.8% 801 2020 50,854,698 1,540,562 7,563,146 7,783,689 - - 296,702 68,038,797 11.3% 741 2021 50,270,524 1,417,955 6,883,846 7,697,470 - - 270,016 66,539,811 13.1% 729 2022 46,998,880 818,197 6,148,494 7,213,722 - - 241,127 61,420,420 0.7% 713 2023 84,295,830 727,439 5,354,242 6,713,702 - - 209,925 97,301,138 1.8% 1,148 2024 80,081,365 366,680 6,765,916 6,196,145 - - 508,514 93,918,620 1.6% 1,107 Note: Details regarding the city's outstanding debt can be found in the footnotes. (1) Personal income is income for Alameda County.

Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Governmental Activities Business-Type Activities

EXHIBIT A
239
150
City of Livermore
Direct and Overlapping Governmental Activities Debt
June 30, 2024
City Assessed Valuation, net of exemptions 25,296,007,408$ Redevelopment Agency Incremental Valuation* -
Total Assessed Valuation 25,296,007,408$
Estimated
share of
Percentage Outstanding Overlapping
Governmental Unit Applicable (1) Debt 6/30/24 Debt
Overlapping Debt Repaid with Property Taxes:

Alameda County 6.309% $497,295,000 $31,374,342
Bay Area Rapid Transit District 2.505% 2,445,575,000 61,261,654 Chabot-Las Positas Community College District 15.331% 947,675,000 145,288,054 Livermore Valley Joint Unified School District 93.596% 228,445,000 213,815,382 East Bay Regional Park District 0.080% 144,520,000 115,616 City of Livermore Community Facilities District No. 99-1 100.000% 8,250,000 8,250,000 City of Livermore Community Facilities District No. 2009-1 I.A. No. 1 100.000% 15,839,503 15,839,503 City of Livermore Community Facilities District No. 2009-1 I.A. No. 2 100.000% 4,104,500 4,104,500 City of Livermore Community Facilities District No. 2009-1 I.A. No. 3 100.000% 2,319,996 2,319,996 City of Livermore Community Facilities District No. 2016-2 100.000% 7,800,000 7,800,000 City of Livermore 1915 Act Bonds 100.000% 1,654,667 1,654,667 CA Statewide Communities Development Authority Assessment District Bonds 100.000% 8,519,512 8,519,512 Total overlapping debt repaid with property taxes 4,311,998,178 500,343,226 Overlapping Other Debt:

Alameda County Gen. Fund Obligations & Coliseum Authority 6.309% 656,746,000 41,434,105 Tax Increment Debt (Successor Agency) 100.000% 14,295,000 14,295,000 Total overlapping other debt 671,041,000 55,729,105
Total overlapping debt 4,983,039,178$ 556,072,331 City of Livermore Certificate of Participation 79,355,002 City of Livermore Notes & Loans 366,680
City of Livermore Capital Leases 4,674,415
Total gross direct debt 84,396,097
Less: City of Livermore Obligations Supported by Rate Payers' Fees (5,501,204) Less: City of Livermore Obligations Funded by Grants Revenues (7,216,680) Total net direct debt 71,678,213
Total direct and overlapping debt 627,750,544$
Notes:
(1)
* Redevelopment Agency was dissolved effective January 31, 2012, in accordance with Assembly Bill 1X 26.

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

Direct and Overlapping Governmental Activities Debt
As of June 30, 2024
The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable pecentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the City divided by the district's total taxable assessed value.

EXHIBIT A
240
151
City of Livermore
Legal Debt Margin Information
Last Ten Fiscal Years
Legal Debt Margin Calculation for Fiscal Year 2023-24
Common Property Assessed Valuation-Secured Roll 24,852,577,636$ Government Code Sec. 43605 Debt Limit 15% of Assessed Valuation 3,727,886,645 Amount of debt applicable to the limit -
Legal debt margin 3,510,424,142
Percent of debt limit authorized and issued 0.00%
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Debt limit 2,166,281,152$ 2,313,791,225$ 2,469,406,617$ 2,637,719,181$ 2,807,434,819$ 2,955,967,893$ 3,110,852,837$ 3,264,609,981$ 3,510,424,142$ 3,727,886,645$ Total net debt applicable to limit - - - - - - - - - - Legal debt margin 2,166,281,152$ 2,313,791,225$ 2,469,406,617$ 2,637,719,181$ 2,807,434,819$ 2,955,967,893$ 3,110,852,837$ 3,264,609,981$ 3,510,424,142$ 3,727,886,645$ Total net debt applicable to the limit
as a percentage of debt limit 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Source: City of Livermore Finance Division
Alameda County Office of the Auditor-Controller
Legal Debt Margin Information
Last Ten Fiscal Years

EXHIBIT A
241
152
City of Livermore
Demographic and Economic Statistics
Last Ten Fiscal Years
Year
Livermore
Population
Total
Personal
Income
Per Capita
Personal Income
Unemployment
Rate
2014 84,815 41,032$ 3,480,129$ 4.0%
2015 88,138 40,546 3,573,663 6.2%
2016 89,648 40,995 3,675,152 2.9%
2017 91,411 42,482 3,883,413 2.3%
2018 91,039 46,426 4,226,619 2.5%
2019 91,861 48,913 4,493,228 2.5%
2020 91,216 53,901 4,916,696 7.2%
2021 86,149 61,675 5,313,309 4.6%
2022 84,793 64,876 5,501,069 2.6%
2023 84,828 69,828 5,923,392 3.3%
Note:

1. Data Source: HdL Company
Demographic and Economic Statistics
Last Ten Calendar Years

EXHIBIT A
242
153
City of Livermore
Population Demographics
June 30, 2024
Number
Percent of
Population
Under 5 years 6,044 7.3%
5 to 9 years 7,124 8.6%
10 to 14 years 5,751 6.9%
15 to 19 years 5,457 6.6%
20 to 24 years 2,702 3.3%
25 to 29 years 2,546 3.1%
30 to 34 years 6,896 8.3%
35 to 39 years 6,264 7.6%
40 to 44 years 6,309 7.6%
45 to 49 years 5,861 7.1%
50 to 54 years 4,266 5.1%
55 to 59 years 5,723 6.9%
60 to 64 years 5,629 6.8%
65 to 69 years 4,304 5.2%
70 to 74 years 2,769 3.3%
75 to 79 years 2,349 2.8%
80 to 84 years 1,368 1.7%
85 years and over 1,537 1.9%
Total Population 82,899 100.0%
Population Demographics(1)
Age

EXHIBIT A
243
154
City of Livermore
Principal Employers
Current Year and Nine Years Ago
Percentage Percentage
of Total City of Total City
Employer Employees Rank Employment * Employees Rank Employment * Lawrence Livermore National Lab 9,291 1 17.33% 5800-6000 1 13.16% Sandia National Lab 1,842 2 3.44% 1100-1200 2 2.56%
Livermore Valley Joint Unified School District 1,401 3 2.61% 1200-1300 3 2.79% GILLIG 1,109 4 2.07%
FormFactor 989 5 1.84%
Kaiser Permanente 825 6 1.54% 800-900 4 1.90%
Lam Research 640 7 1.19%
City of Livermore 578 8 1.08% 400-500 9 1.00%
Topcon Positioning 410 9 0.76%
Las Positas College 291 10 0.54% 400-800 8 1.00%
Comcast
Wente 700-800 5 1.67%
Livermore Area Recreation and Parks District 400-500 7 1.00% RGW Construction 400-500 6 1.00%
Valley Care Health Systems 432 10 1.00%

32.40% 27.08%
* Estimated
Source: City of Livermore Office of Innovation and Economic Development 2024 2015
Current Year and Nine Years Ago
Principal Employers

EXHIBIT A
244
155
City of Livermore
Full-Time Equivalent City Government Employees by Function/Program Last Ten Fiscal Years
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Function/Program
General government
Administrative Services 1,4,5 31.75 32.50 33.50 35.50 39.25 38.25 39.25 39.25 35.25 37.25 City Manager 2,5 7.00 7.00 6.00 7.00 7.00 7.00 7.00 7.00 12.00 13.00 City Attorney 8.00 8.50 8.50 8.50 8.50 9.00 9.00 9.00 9.00 10.00 Police 4 141.75 141.75 142.75 141.75 145.00 145.50 145.50 145.50 147.25 148.25 Public Works 42.70 41.45 43.80 43.80 45.50 45.50 45.50 45.50 45.50 45.50 Community Development 3 63.50 63.50 64.50 66.50 66.50 68.50 68.50 67.50 67.50 70.50 Economic Development 3 - - 3.00 3.00 3.00 4.00 4.00 4.00 4.00 4.00 Library 28.00 28.00 27.00 27.00 27.00 27.35 27.35 27.35 27.88 27.88 Airport 8.00 8.00 8.00 8.00 8.00 8.50 8.50 8.50 8.50 8.50 Water 15.00 15.00 13.75 13.75 10.00 11.00 10.00 10.00 10.00 10.00 Sewer 48.50 48.50 49.50 49.50 49.50 49.50 50.50 50.50 51.50 52.50 Las Positas Golf Course 0.80 0.80 0.70 0.70 - - - - - - Total 395.00 395.00 401.00 405.00 409.25 414.10 415.10 414.10 418.38 427.38 Notes:

1. Administrative Services was created in fiscal year 2010 and includes Human Resources, Finance and Information Technology employees. Starting in FY17, includes City Clerk employees. Prior years' data is added to Administrative Services for comparison purposes.

2. Prior to fiscal year 2010, City Manager included Information Technology employees.

3. In fiscal year 2011, Redevelopment employees are included in Community Development.

3. In fiscal years 2014-2016, Economic Development employees are included in Community Development.

4. Starting in FY18, two police Information Technology employees are included in Administrative Services.

5. Starting in FY23, City Clerk is included in City Manager and no longer in Administrative Services.

Full-time Equivalent City Government Employees by Function/Program Last Ten Fiscal Years

EXHIBIT A
245
156
City of Livermore
Capital Assets Statistics by Function/Program
Last Ten Fiscal Years
Function/Program 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Police
Stations 1 1 1 1 1 1 1 1 1 1
Patrol units 57 58 59 63 61 63 61 65 64 65
Fire stations 5 5 5 5 5 5 5 5 5 5
Public Works
Streets (centerline miles) 306 308 306 308 308 308 308 310 360 360 Streetlights 7,382 7,382 7,500 7,500 7,500 7,500 7,500 7,526 10,212 10,212 Traffic Signals 104 105 106 106 106 108 114 112 114 114 Enhanced Crosswalks 11 15 17 17 17 22 24 24 24 29
Las Positas Municipal Golf Course
Total acreage 195 195 195 195 195 195 195 195 195 195 Length of 18-hole course in yards 6,723 6,723 6,723 6,723 6,723 6,723 6,723 6,723 6,723 6,723 Length of 9-hole executive course in yards 1,133 1,133 1,133 1,133 1,133 1,133 1,133 1,133 1,133 1,133 Water
Water mains (miles)
Potable water 148 148 148 151 162 162 162 163 163 163 Recycled water 21 21 21 21 20 20 20 20 20 20
Fire hydrants 1,487 1,495 1,516 1,548 1,550 1,559 1,567 1,567 1,568 1,568 Fire hydrants (recycled) 121 122 122 121 120 120 120 120 125 125 Wastewater
Sanitary sewers (miles) 297 297 297 302 304 304 304 304 305 305 Storm sewers (miles) 214 214 214 224 226 226 226 226 226 226 Treatment capacity (millions of gallons) 9 9 9 9 9 9 9 9 9 9 Municipal Airport
Length of longest runway in feet 5,253 5,253 5,253 5,253 5,253 5,253 5,253 5,253 5,253 5,253 Length of longest taxiway in feet 5,720 5,720 5,720 5,720 5,720 5,720 5,720 5,720 5,720 5,720 Total acreage 644 644 644 644 644 644 644 644 644 644 Number of hangars 393 393 393 393 393 393 393 393 393 393 Sources: Various city departments.

Capital Asset Statistics by Function/Program
Last Ten Fiscal Years

EXHIBIT A
246
157
City of Livermore
Operating Indicators by Function/Program
Last Ten Fiscal Years
Function/Program 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Police
Physical arrests 2,323 2,781 2,278 3,034 3,502 2,922 2,168 1,726 1,712 1,447 Parking violations 1,613 1,708 2,021 2,269 2,819 2,736 1,482 1,431 1,000 1,775 Traffic violations 6,813 5,142 4,540 5,344 8,620 8,576 5,531 4,060 3,425 3,282 Fire
Emergency responses 6,777 7,233 7,620 7,539 7,536 7,610 7,700 8,329 16,577 16,597 Fires extinguished 192 210 210 227 218 239 322 291 454 500 Inspections (1) 505 1,195 1,411 1,013 810 839 849 605 568 609 Annual fire inspection program 594 541 624 674 602 712 74 545 986 1,215 Public Works
Street resurfacing (centerline miles) 4.1 3.3 - - - 3.6 1.4 - - 5.3 Potholes repaired 653 504 1,347 969 1,152 858 639 700 2,030 1,193 Maintenance of Landscaping (acres) 320 329 330 334 338 340 350 350 350 350 Library
Volumes in collection 261,818 281,469 276,849 268,154 267,319 266,803 270,155 275,662 268,964 214,855 Total volumes borrowed 777,970 762,939 762,304 753,072 760,960 540,073 (4) 249,348 (4) 685,183 873,274 947,630 Community Development
Building permits issued NA NA 3,694 4,086 3,755 3,729 5,948 - 4,663 5,201 Water
New connections 52 200 232 120 89 57 27 1 3 20 Water mains breaks 1 3 3 - - - - - 1 -
Other water breaks & leaks 14 18 19 16 30 17 31 29 22 19 Average Daily Consumption
Potable water (millions of gallons) 4.20 4.10 4.40 4.80 5.20 5.40 5.50 5.40 4.80 4.90 Recycled water (millions of gallons) 2.04 2.02 1.70 1.84 1.91 1.88 2.00 1.85 1.40 1.30 Peak daily consumption - potable 9.10 8.80 9.00 9.50 10.10 10.20 10.40 10.30 9.50 9.90 (millions of gallons)
Wastewater
Average daily sewage treatment 6.10 5.90 5.80 5.80 5.60 5.50 5.50 5.30 5.30 5.30 (millions of gallons)
New connections 389 659 311 385 347 200 286 96 231 123 Municipal Airport
Number of tenant aircraft 508 503 507 512 495 487 497 466 454 466 Total landings & takeoffs 122,140 121,050 117,834 146,988 156,405 148,568 170,707 195,952 184,527 183,190 Gallons of fuel pumped 644,617 281,288 - (2) - (2) - (2) - (2) - (2) - (2) - (2) - Las Positas Municipal Golf Course
Rounds Played 69,387 66,711 58,982 61,418 N/A (3) N/A (3) N/A (3) N/A (3) N/A (3) N/A (1) Data is reported on a fiscal year basis.

NA Data not available.

Source: Various city departments.

Operating Indicators by Function/Program
Last Ten Fiscal Years (1)
(4) Reduction due to COVID-19 shelter in place order that began in mid-March 2020. (2) Starting 11/25/2015, fuel was transitioned to Five Rivers Aviation. (3) Las Positas Golf Course ceased as an enterprise fund in February 2019. The City Of Livermore has leased the golf course to a private management company.

EXHIBIT A
247
158
City of Livermore
Water and Sewer Rates
Year Ended June 30, 2024
The monthly residential water bill for a customer using 10 CCF of water per month with a 5/8" meter would be $92.15.

Meter Size (inches)
City Service
Meter Charge
Flat Rate
Alameda
County Zone 7
Meter Charge
Flat Rate
Total Meter
Charge
5/8" (0.625) $23.40 $29.62 $53.02
3/4" (0.75) 30.89 44.43 75.32 Billing Type Monthly Charge 1" with Fire Line 23.40 29.62 53.02 Single Family per Dwelling Unit $68.23 1" 45.87 74.05 119.92 Multi-Family per Dwelling Unit 55.83 1 1/2" Displacement 83.32 148.10 231.42 1 1/2" Turbine 98.30 177.72 276.02 Commercial 2" Displacement 128.26 236.96 365.22 2" Turbine 150.73 281.39 432.12 Billing Type Monthly Charge 3" Turbine 334.24 644.24 978.48 Fixed Charge: Flat Rate $30.87 4" Turbine 570.17 1,110.75 1,680.92
6" Turbine 1,206.82 2,369.60 3,576.42 Variable Charge: Winter Water Use 8" 2,105.62 4,146.80 6,252.42 Billing Type Monthly Charge (Monthly + 10%) 1 10" 3,154.22 6,220.20 9,374.42 Bakeries per 100 Cubic ft. 11.61 $12.77 5/8" Fire Line 1.29 exempt 1.29 Commercial Laundry per 100 Cubic ft. 7.23 $7.95 3/4" Fire Line 1.54 exempt 1.54 Markets per 100 Cubic ft. 11.64 $12.80 1" Fire Line 2.05 exempt 2.05 Mortuaries per 100 Cubic ft. 11.64 $12.80 1 1/2" Fire Line 3.07 exempt 3.07 Restaurants per 100 Cubic ft. 11.61 $12.77 2" Fire Line 4.09 exempt 4.09 All Other per 100 Cubic ft. 5.16 $5.68 3" Fire Line 6.13 exempt 6.13
4" Fire Line 8.17 exempt 8.17 Institutional:
6" Fire Line 12.25 exempt 12.25 Schools per 100 Cubic ft. 5.02 $5.52 8" Fire Line 16.33 exempt 16.33 All Other - Institution per 100 Cubic ft. 5.02 $5.52 10" Fire Line 20.41 exempt 20.41
Water and Sewer Rates
For Year Ended June 30, 2024
Customers in the City's Water service area are billed monthly with rates shown below. The rates provided are those in effect as of June 30, 2023. Residential sewer customers are billed via their property tax bill while Commercial customers are billed monthly.

Water Sewer
Residential

EXHIBIT A
248
159
City of Livermore
Water System – Revenues by Class of User
June 30, 2024
Water Usage Cost Per Unit:

City Distribution Zone 7 Total
Cost Wholesale Cost Variable Cost
Residential:

Single Family:

Tier 1 (1-7 Units) $1.39 2.34 3.73
Tier 2 (8+ Units) 2.00 2.34 4.34
Multi-Family 1.62 2.34 3.96
Commercial, Institution, Hydrant (potable) & Public Agency:

All Units 1.59 2.34 3.93
Irrigation
All Units 1.800 2.34 4.14
Recycled Water:

All Units 2.77 $ - 2.77
1 Winter Water Use amount is the average consumption during Winter months multiplied by the Normal Monthly rate with an additional 10% service fee to the normal rate.

Water and Sewer Rates
For Year Ended June 30, 2024
Water Sewer
Fiscal Year Percentage of
User Class Revenues Revenues
Residential 25,969,909$ 83.9%
Commercial/Industrial 5,001,228 16.1%
Total 30,971,137$ 100%
Livermore Sewer System
Revenues by Class of User
Fiscal Year 2023-24

EXHIBIT A
249
160
City of Livermore
Sewer Connection Fees
June 30, 2024
Effective Date July 1, 2024
Flow/Volume
Residential User Type in mg DUEs Connections
Single Family Residential 1,180 23,985 23,985
8,148.68$ Condominiums/Multiple Family
Residential 350.00 7,120 9,247
Commercial/Institutional 545.00 9,174 1,119
4,300.69$ Total Users 2,075.00 40,279 34,351
4,843.94
6,247.32
7,107.46
8,148.68
Auto Repair 4.98$
Assembly Facilities 6.79
Eating/drinking w/o cooking 15.84
Gas Stations 21.28
General Use 1.81
Gyms, Health Clubs 13.58
Hotels, Motels (excluding dining facilites) 6.79
Markets 8.60
Mixed use 4.53
Medical/Dental Office/Clinic 9.96
Restaurants 36.69
Warehouse 0.45
Industrial
F = Flow cost $/gpd 35.06$
B = BOD cost $/lb-day 3,049.80
S = SS cost $/lb-day 1,241.47
As of June 30, 2024
Sewer Connection Fees Livermore Sewer System
City of Livermore Number of Dwelling Unit Equivalents and Connections by Classification of User
Four Bedroom
Commercial (BOD & SS = 285 mg/L, unless
otherwise shown)
Single Family
Multi-Family
Studio
One Bedroom
Two Bedroom
Three Bedroom

EXHIBIT A
250
161
City of Livermore
Sewer System – Summary of Historical Operating Results
Fiscal Year Ended June 30
Audited Audited Audited Audited Audited Audited Audited Audited Audited Audited 2015 2016 2017(5) 2018 2019 2020 2021 2022 2023 2024
Gross Revenues
Charges for services $ 18,264,709 $ 18,901,732 $ 20,388,467 $ 21,341,703 $ 22,920,343 $ 24,503,188 $ 25,500,934 $ 27,646,105 $ 29,561,501 $ 30,971,138 Connection Fees 1,857,287 3,677,231 1,834,854 2,477,971 2,311,224 1,341,958 1,966,329 689,915 518,366 213,076 Investment Income (Loss) 306,248 834,666 178,872 395,756 1,783,751 1,955,582 234,858 (2,091,441) 222,433 1,542,952 Other Revenue(3) 211,846 59,991 50,147 33,205 20,806 32,390 73,041 53,414 63,271 19,038 Total Gross Revenues 20,640,090 23,473,620 22,452,340 24,248,635 27,036,124 27,833,118 27,775,162 26,297,993 30,365,571 32,746,204 Maintenance & Operations Costs(2) 14,871,652 17,392,930 15,784,287 15,982,653 18,020,641 18,480,604 17,778,653 17,565,418 18,704,407 15,339,448 LAVWMA Net Revenues 5,768,438 6,080,690 6,668,053 8,265,982 9,015,483 9,352,514 9,996,509 8,732,575 11,661,164 17,406,756 Share of LAVWMA Debt Service
Rehabilitation Project 974,153 973,711 973,985 974,289 973,970 974,183 974,244 910,398 808,700 809,235 Expansion Project 1,253,670 1,253,103 1,253,455 1,253,847 1,253,436 1,253,710 1,253,788 1,171,623 1,040,744 1,041,433 Total LAVWMA Debt Service $ 2,227,823 $ 2,226,814 $ 2,227,440 $ 2,228,136 $ 2,227,406 $ 2,227,893 $ 2,228,032 $ 2,082,021 $ 1,849,444 $ 1,850,668 LAVWMA Debt Service Coverage 2.59 2.73 2.99 3.71 4.05 4.20 4.49 4.19 6.31 9.41 Net Revenues Available after
Obligations/LAVWMA $ 3,540,615 $ 3,853,876 $ 4,440,613 $ 6,037,846 $ 6,788,077 $ 7,124,621 $ 7,768,477 $ 6,650,554 $ 9,811,720 $ 15,556,088 (1) Balances are derived from the Livermore audited financial statements. (3) Includes Operating Transfers in, if any.
(2) M&O excludes depreciation and debt service. M&O includes Payments to LAVWMA for LAVWMA Maintenance and Operation Costs. See “SECURITY FOR THE 2021 BONDS.” Includes Operating Transfers Out, if any.
(4) In fiscal year 2016-17, Stormwater activities were reported together with Sewer activities, but were approximately 5% fo total gross revenues. Stormwater revenues are not pledged to the 2021 Bonds. Starting in fiscal year 2017-18, Stormwater activites are reported seperately from Sewer.

Livermore Sewer System
Summary of Historical Operating Results (1)
Fiscal Year Ended June 30

EXHIBIT A
251
162
City of Livermore
Schedule of Insurance
June 30, 2024

COVERAGE BROKER COVERAGE POLICY NO LIMITS TERM
General/Auto Liability
Primary Layer
City of Livermore - Self Insured Retention Not applicable $750,000 Self Insured Retention 7/1/23-6/30/24 General/Auto Liability
Excess Coverage
First Layer
California Joint Powers Risk Management
Authority (CJPRMA)
Bodily Injury, Property Damage, Personal Injury, Public Officials Errors & Omissions, Employment Practices, Mold, Sexual Abuse at day care, terrorism, Pollution
2023-2024 MOC CJPRMA jointly indemnifies members from SIR to $7.5M 7/1/23-6/30/24 General/Auto Liability
Excess Coverage
Second Layer
Safety National
A.M. Best Rating A++:XV
Following CJPRMA Memorandum of Coverage Binder FCA4068311 $5,000,000 per occurrence excess of $7,500,000 per occurrence retention for Bodily Injury / Property Damage / Personal Injury / Public Officials E&O
7/1/23-6/30/24
General/Auto Liability
Excess Coverage
Third Layer
Munich Re
A.M. Best Rating A+:XV
Following CJPRMA Memorandum of Coverage Binder Renewal of 152376-3019263-2022 $5,000,000 per occurrence excess of $12,500,000 per occurrence retention for Bodily Injury / Property Damage / Personal Injury / Public Officials E&O
7/1/23-6/30/24
General/Auto Liability
Excess Coverage
Fourth Layer
Applied Underwriters/ Continental Indemnity
Company
A.M. Best Rating A-:XI
Following CJPRMA Memorandum of Coverage JCI23NPX-01042-03 $2,500,000 per occurrence excess of $17,500,000 per occurence retention for Bodily Injury / Property Damage / Personal Injury / Public Officials E&O
7/1/23-6/30/24
General/Auto Liability
Excess Coverage
Fifth Layer
Chubb/Ace American
A.M. Best Rating A++:XV
Following CJPRMA Memorandum of Coverage G71816370 004 $5,000,000 per occurrence excess of $20,000,000 per occurence retention for Bodily Injury / Property Damage / Personal Injury / Public Officials E&O
7/1/23-6/30/24
Genera/Auto Liability
Excess Coverage
Sixth Layer
Everest Reinsurance Company
A.M. Best Rating A+:XV
Following CJPRMA Memorandum of Coverage FC10045252-2023 $5,000,000 excess of $25,000,000 7/1/23-6/30/24 Genera/Auto Liability
Excess Coverage
Seventh Layer
Quota Share 50% / 50%
Bowhead/Midvale
A.M. Best Rating A:XV
SCOR
A.M. Best Rating A:XV
Following CJPRMA Memorandum of Coverage
PEF-172337023-00
FA0090560-2023-1
$5,000,000 excess of $30,000,000 7/1/23-6/30/24
Genera/Auto Liability
Excess Coverage
Eighth Layer
AWAC
A.M. Best Rating A:XV
Following CJPRMA Memorandum of Coverage 0312-9438 $5,000,000 excess of $35,000,000 7/1/23-6/30/24 Commercial Property Lloyd's of London: 74%
Core Speciality (StarStone): 20%
A.M. Best Rating A-:XII
Munich Re: 4%
A.M. Best Rating A+:XV
Real and Personal Property / Business Interruption / Extra Expense / Rental Coverage, Excluding Earthquake and Flood
Lloyds - B0180PJ1900047 Primary Property Limit: $400,000,000 Deductible $250,000
$500,000 for Wildfire
$1,000,000 All Flood Zones
7/1/23-6/30/24
APIP Coverage is on a replacement cost basis. APIP - 35-JPA/Pools 2 $375,000,000 xs $25,000,000 7/1/23-6/30/24 *Boiler and Machinery
included in property program
APIP/
Travelers Boiler & Machinery
A++:XV
APIP 35-JPA/Pools 2
Travelers
$100,000,000 7/1/23-6/30/24
Pollution Ironshore Specialty Insurance Company Claims Made and Reported Pollution Liability ISPILLSCAUNR002 $3,000,000 per occurrence $3,000,000 aggregate with $75,000 deductible
7/1/23-6/30/24
Pollution APIP/Ironshore Claims Made and Reported Pollution Liability APIP 35-JPA/Pools 2 $2,000,000 per occurrence $25,000,000 aggregate (all insureds combined)
7/1/23-6/30/24
Aircraft Policy - Drones Starr Indemnity & Liability Company Hull and Liability coverage for reported drones to CJPRMA 1000233406-07 $5,000,000 Combine Single Limit for BI & PD - No Deductible 7/1/23-6/30/24 Cyber Liability APIP/Beazley Information security & privacy insurance with electronic media liability coverage
B0180FN2105500 $2,000,000 per member; $25,000,000 aggregate. Deductible is $100,000.
7/1/23-6/30/24
Excess Cyber Ironshore Information security & privacy insurance with electronic media liability coverage
EO5SACA0QX001 $2,000,000 excess of $2,000,000 per member, $3,000,000 x $40,000,000 aggregate
7/1/23-6/30/24
SCHEDULE OF INSURANCE AS OF JUNE 30, 2024

EXHIBIT A
252
163
City of Livermore
Schedule of Insurance
June 30, 2024

COVERAGE BROKER COVERAGE POLICY NO LIMITS TERM
Excess Cyber Tokio Marine HCC
Houston Casualty
Information security & privacy insurance with electronic media liability coverage
H22CXS20777-00 $1,000,000 each claim/ $1,000,000 aggregate, $4,000,000 each claim/$43,000,000 aggregate
7/1/23-6/30/24
Deadly Weapon Respsonse Program APIP/Lloyds Claims Made and Reported PJ22000500004 $500,000 per occurrence & aggregate $2,500,000 deductible
7/1/23-6/30/24
Auto Physical Damage Hanover - Inland Marine Auto physical damage coverage for city-owned vehicles IH3 H663376 14 Per occurrence limit: $10,000,000 $10,000 deductible with replacement value as scheduled
7/1/23-6/30/24
EPL sublimit $12.5M. This is $7.5M CJPRMA
retention and $5M with Safety National.

Retained $5M aggregate with Safety
National.

Subsidence sublimit $7.5M. This reflects
coverage in CJPRMA retention. No coverage in
reinsurance.

Communicable disease sublimit $7.5M. This reflects coverage in CJPRMA retention. No coverage in reinsurance.

Fungal pathogens sublimit $12.5M. This is
$7.5M CJPRMA retention and $5M with
Safety National. Retained $5M aggregate
with Safety National.

Sexual abuse in daycare operations $12.5M. This is $7.5M CJPRMA retention and $5M with Safety National. Retained $5M aggregate with Safety National.

Terrorism sublimit
$12.5M. This is $7.5M
CJPRMA retention and
$5M with Safety National.

Retained $5M aggregate
with Safety National.

Exception to exclusions for Exclusion 2
(Airports - public officials errors and
omissions) and Exclusion 27 (Pollution -
various) sublimit $7.5M. This reflects
coverage in CJPRMA. No coverage in
reinsurance.

Exception to exclusion for Exclusion 29
(Property of a Covered Party) sublimit $5M
aggregate retained with Safety National.

Fiduciary AON/Travelers 457 Governmental money purchase plan and trust. 106945404 $1,000,000 for all claims, $100,000 for each settlement program notice.
7/1/23-6/30/24
DIC (Difference in Conditions) Earthquake
and Flood
AON - ACE: Westchester Surplus Lines
Insurance
Property coverage per schedule for damage from Earthquake or Flood as excluded from Property Program.

D3740021A 012Q $5,000,000 per occurrence with $5,000,000 annual aggregate; deductible is $25,000 for flood; 10% of the separate insurable value subject to a minimum of $100,000 per occurrence
7/1/23-6/30/24
Public Employee Blanket Bond
(Crime/Fidelity)
AON – Great American Insurance Group Faithful performance, any dishonest act, including forgery, alteration, & theft
GVT05217781000 Deductible is $10,000 per loss 7/1/23-6/30/24 Covers all employees statutorily required to maintain bonding. Coverage is $500,000 per loss 7/1/23-6/30/24 Airport Liability AON/Old Republic Insurance Co. Airport liability / Hangerkeeper’s / Advertising / Vehicles / Non‐ owned aircraft / Fire Legal Liability / Products and Completed Operations / Premises
PR00269706 $75,000,000 per occurrence with $0 deductible; $4M Excess of $1M for airport owned vehicles off site
7/1/23-6/30/24
Workers’ Compensation and Employer
Liability Primary Layer
City of Livermore - Self Insured Retention State Mandated workers’ compensation coverage for miscellaneous and safety member employees, including volunteers. Also covers employer liability not covered under statutory workers’ compensation coverage.

Not applicable Self Insured retention of $500,000 7/1/23-6/30/24 Workers’ Compensation and Employer
Liability
Excess Coverage
First Layer
Local Agency Workers’ Compensation Excess
Joint Powers Authority (LAWCX)
State mandated workers’ compensation coverage for miscellaneous and safety member employees, including volunteers. Also covers employer liability not covered under statutory workers’ compensation coverage.

LAWCX 23.24 $5 million in excess of SIR of $500,000 per claim 7/1/23-6/30/24 Worker’s Compensation and Employer
Liability Reinsurance and
Excess Coverage
Second Layer
PRISM, Reinsurance from ACE American
Insurance Co.

State mandated workers’ compensation coverage for miscellaneous and safety member employees, including volunteers. Also covers employer liability not covered under statutory workers’ compensation coverage.

PRISM PE 23 EWC-32 $50,000,000 each accident/each employee (Difference between $50,000,000 and the individual member’s retention) 7/1/23-6/30/24
Worker’s Compensation and Employer
Liability Reinsurance and
Excess Coverage
Third Layer
Liberty Insurance Corporation State mandated workers’ compensation coverage for miscellaneous and safety member employees, including volunteers. Also covers employer liability not covered under statutory workers’ compensation coverage.

EW7-64N-444785-013 Statutory excess of $50,000,000 7/1/23-6/30/24 SCHEDULE OF INSURANCE AS OF JUNE 30, 2024

EXHIBIT A
253
164
City of Livermore
Redevelopment Project – Historical Tax Revenues
Last Ten Fiscal Years
Category FY2015-16 FY2016-17 FY2017-18 FY2018-19 FY2019-20 FY2020-21 FY2021-22 FY2022-23 FY2023-24 Secured Assessed Values 605,121$ 669,403$ 724,912$ 758,981$ 791,095$ 822,520$ 850,789$ $941,341 $1,071,387 Unsecured Assessed Values 48,359 53,829 50,958 45,926 35,085 51,529 62,775 87,831 31,993 Total Assessed Values 653,480 723,232 775,870 804,907 826,180 874,049 913,564 1,029,172 1,103,380 Percentage Change 7.44% 10.67% 7.28% 3.74% 2.64% 5.79% 4.52% 17.75% 20.78% Base Year Assessed Values 70,060 70,060 70,060 70,060 70,060 70,060 70,060 70,060 70,060 Incremental Assessed Values 583,420 653,272 705,810 734,848 756,120 803,990 844,092 959,112 1,033,320 Gross Tax Increment Revenue 6,058 6,875 7,445 7,581 7,803 8,121 8,451 9,591 10,333 Unitary Tax Revenues 23 20 27 33 34 34 295 51 58
Gross Revenues 6,081 6,895 7,472 7,614 7,837 8,155 8,746 9,642 10,391 Adjustments to Gross Revenues:

County Administrative Fees 44 47 49 58 52 54 53 56 57
Sections 33676 Payments 2 3 3 3 3 3 3 3 3
Tax Revenues 6,035$ 6,845$ 7,420$ 7,553$ 7,782$ 8,098$ 8,690$ 9,583$ 10,331$ Negotiation Pass-Through Payments 1,082 1,200 1,297 1,314 1,358 1,410 1,469 1,608 1,828 Statutory Pass-Through Payments 271 375 450 451 498 542 643 793 891 Net Tax Increment Revenues 4,682$ 5,270$ 5,673$ 5,788$ 5,926$ 6,146$ 6,578$ 7,182$ 7,612$ Source: The HDL Companies
Redevelopment Project
Historical Tax Revenues ($ in 000s)

EXHIBIT A
254
165
City of Livermore
Redevelopment Project – Ten Largest Taxable Property Owners Last Ten Fiscal Years
Total % of Total % of
FY 2023-24 Assessed Incremental
Assessee Primary Use Assessed Value Value Value
Livermore Mutifamily Owner LLC Vacant $85,325,734 7.73% 8.26% Sequoia Equities Mill Springs Residential 55,157,391 5.00% 5.34% Kent Anderson Trust Commercial 54,733,200 4.96% 5.30% ValleyCare Senior Housing Inc. Residential 43,335,596 3.93% 4.19% Comcast of California Unsecured 39,776,783 3.60% 3.85% Hospital Comm Livermore Pleas Areas Commercial 38,370,864 3.48% 3.71% Maroon Bear LP Commercial 33,898,250 3.07% 3.28% 35 Fenton Street LLC (1) Commercial 24,027,120 2.18% 2.33% Serra LLC (1) Commercial 16,213,792 1.47% 1.57% Sai La Family LP ET AL and LA C ET AL Commercial 13,574,844 1.23% 1.31% Top Ten Total 404,413,574$ 36.65% 39.14%
Total FY 2023-24 Assessed Valuation $1,103,380,332 100.00% Total FY 2023-24 Incremental Assessed Valuation $1,033,320,275 100.00% Source: The HDL Companies
1) 1) Taxpayers have pending assessment appeals with respect to property within the Project Area.

Livermore Successor Agency to the Former Redevelopment Agency Redevelopment Project
Ten Largest Taxable Property Owners
Total No. of No. of No. of Value of
Appeals Resolved Successful Average Appeals Appeals
Filed Appeals Appeals AV Reduction Pending Pending
67 45 4 18.30% 22 $242,156,810
Appeals for FY 2019-20 to FY 2023-24
Livermore Successor Agency to the Former Redevelopment Agency Assessment Appeals

EXHIBIT A
255
166
City of Livermore
Redevelopment Project – Actual and Projected Tax Revenues and Debt Service Coverage Last Ten Fiscal Years
Debt Service Debt
Gross Tax SB 2557 Section 33676 on 2016 Service
Fiscal Year Revenues Charge Payments Tax Revenues Bonds Coverage 2016-17 6,894,959$ (46,546)$ (2,500)$ 6,845,913$ 2,151,702$ 3.18 2017-18 7,472,044 (48,779) (2,620) 7,420,645 1,452,094 5.11 2018-19 7,613,936 (58,375) (2,742) 7,552,819 2,044,969 3.69 2019-20 7,837,339 (52,352) (2,867) 7,782,120 2,045,469 3.80 2020-21 8,154,877 (53,869) (2,994) 8,098,014 2,042,969 3.96 2021-22 8,297,623 (53,438) (3,114) 8,241,071 2,042,344 4.04 2022-23 9,071,915 (51,368) (2,638) 9,017,909 2,038,469 4.42 2023-24 10,503,201 (48,228) (3,109) 10,451,864 2,041,094 5.12 2024-25 6,293,445 (46,309) (2,268) 6,244,868 2,030,219 3.08 2025-26 6,293,445 (46,309) (2,268) 6,244,868 2,030,719 3.08 2026-27 6,293,445 (46,309) (2,268) 6,244,868 2,049,244 3.05 2027-28 6,293,445 (46,309) (2,268) 6,244,868 2,047,044 3.05 2028-29 6,293,445 (46,309) (2,268) 6,244,868 2,041,075 3.06 2029-30 6,293,445 (46,309) (2,268) 6,244,868 2,046,031 3.05 2030-31 6,293,445 (46,309) (2,268) 6,244,868 2,037,828 3.06 2031-32 6,293,445 (46,309) (2,268) 6,244,868 2,040,088 3.06 2032-33 6,293,445 (46,309) (2,268) 6,244,868 - 0.00 1) FY 2016-17 through FY 2023-24 are based on actual
2) FY 2024-25 and on are the projections set forth in the official statement Livermore Successor Agency to the Former Redevelopment Agency Redevelopment Project
Actual(1) and Projected(2) Tax Revenues and Debt Service Coverage (Assumes 0% Growth)

EXHIBIT A
256
This Page Intentionally Left Blank

EXHIBIT A
257

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B FUNDS

FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED JUNE 30, 2024

EXHIBIT B
258

EXHIBIT B
259

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2024

Table of Contents

Page

Independent Auditor’s Report ................................................................................................................ 1

Financial Statements:

Balance Sheet .................................................................................................................................. 5

Statement of Revenues, Expenditures and Changes in Fund Balances ......................................... 6

Notes to Financial Statements ......................................................................................................... 7

Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards………………………………………………………………... 10

Independent Auditor’s Report on Measure B Compliance……………………………………………………….…..12

EXHIBIT B
260

EXHIBIT B
261
Independent Auditor’s Report
The Honorable Mayor and Members of the City Council
City of Livermore, California
Report on the Audit of the Financial Statements
Opinion
We have audited the Financial Statements of the Measure B Funds, a special revenue fund of the City of Livermore, California (City), as of and for the year ended June 30, 2024, and the related notes to the financial statements.

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the Measure B Funds of the City, as of June 30, 2024, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion
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 (Government Auditing Standards). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Emphasis of Matter
As discussed in Note 1, the financial statements specific to Measure B are intended to present the financial position and the changes in financial position attributable to the transactions of that Fund. They do not purport to, and do not, present fairly the financial position of the City as of June 30, 2024, and the changes in its financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter.

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EXHIBIT B
262
Page | 2
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.

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. 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 and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS and Government Auditing Standards, we • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

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.

EXHIBIT B
263
Page | 3
Required Supplementary Information
Management has omitted management's discussion and analysis and budgetary comparison information that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of the financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by this missing information.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 31, 2024, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s 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.

Menlo Park, California
December 31, 2024

EXHIBIT B
264
Page | 4

EXHIBIT B
265

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B FUNDS
Page | 5

BALANCE SHEET
As of June 30, 2024
Bicycle and Local Streets
Pedestrian and Roads Totals
ASSETS
Cash and Investments (Note 2) 438,092$ 1,536,050$ 1,974,142$ Total Assets 438,092$ 1,536,050$ 1,974,142$

LIABILITIES
Accounts Payable -$ 13,639$ 13,639$
Total Liabilities - 13,639 13,639

FUND BALANCES
Restricted for Measure B Programs
and Projects 438,092 1,522,411 1,960,503
Total Fund Balances 438,092 1,522,411 1,960,503
Total Liabilities & Fund Balances 438,092$ 1,536,050$ 1,974,142$ See accompanying notes to financial statements

EXHIBIT B
266

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B FUNDS
Page | 6

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES For the Fiscal Year Ended June 30, 2024

Bicycle and Local Streets
Pedestrian and Roads Totals

REVENUES
Measure B Direct Local Distribution
Program Revenue
Interest 19,089$ 92,927$ 112,016$
Total Program Revenues 19,089 92,927 112,016

EXPENDITURES
Measure B Direct Local Distribution
Expenses-Current
General Government 56 11 67 Construction 3,133 38,264 41,397 Total Program Expenditures 3,189 38,275 41,464

REVENUES OVER (UNDER) EXPENDITURES/
NET CHANGE IN FUND BALANCE 15,900 54,652 70,552

FUND BALANCES
Beginning Fund Balance 422,192 1,467,759 1,889,951 Ending Fund Balance 438,092$ 1,522,411$ 1,960,503$

EXHIBIT B
267

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B FUNDS
FOR THE YEAR ENDED JUNE 30, 2024
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NOTES TO THE FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A. Reporting Entity

All transactions of the Measure B Direct Local Distribution (DLD) funds of the City of Livermore, California (City) distributed by Alameda County Transportation Commission (ACTC) - Measure B Program (Measure B Program), are combined with other ACTC fundings and reported as a separate special revenue fund in the basic financial statements of the City. The Measure B Program is used to account for the City’s share of DLD revenues earned and expenditures incurred under the City’s local streets and roads, and bike and pedestrian programs. The accompanying financial statements are for the Measure B Program only and are not intended to fairly present the financial position of the City and the results of its operations.

B. Basis of Accounting

The accompanying financial statements are prepared on the modified accrual basis of accounting. Revenues are generally recorded when measurable and available, and expenditures are recorded when the related liabilities are incurred.

The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a “current financial resources” measurement focus, wherein only current assets and current liabilities generally are included on the balance sheets. Operating statements of governmental funds present increased (revenues and other financing sources) and decreased (expenditures and other financing uses) in net current assets.

C. Description of Funds

The accounts are maintained on the basis of fund accounting. A fund is a separate accounting entity with a self- balancing set of accounts. The City uses Special Revenue Funds to account for the proceeds of specific revenues (other than for capital projects) that are legally restricted to be expended for specified purposes.

D. Capital Assets

Capital assets, consisting primarily of infrastructure, are recorded as expenditures and are not capitalized since they will be maintained by the City.

E. Use of Estimates

Management uses estimates and assumptions in preparing the financial statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates.

EXHIBIT B
268

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B FUNDS
FOR THE YEAR ENDED JUNE 30, 2024
Page | 8

NOTES TO THE FINANCIAL STATEMENTS

NOTE 2 – CASH AND INVESTMENTS

Cash and investments are maintained on a pooled basis with those of other funds of the City. Pooled cash and investments consist of U.S. Treasury or its agencies, money market funds investing in such obligations, medium term corporate notes that meet specified rating requirements, and the State Treasurer’s investment pool (Local Agency Investment Fund). All investments are stated at fair value. Pooled investment earnings are allocated based on the average cash and investment balances of the various funds and related entities of the City.

See the City’s Annual Comprehensive Financial Report for disclosures related to cash and investments and the related custodial risk categorization.

NOTE 3 – MEASURE B PROGRAM

Under Measure B, approved by the voters of Alameda County in 2000, the City receives a portion of the proceeds of an additional on-half cent sales tax to be used for transportation-related expenditures. This measure was adopted with the intention that the funds generated by the additional sales tax will not fund expenditures previously paid by property taxes but, rather, would be used for additional projects and programs.

Projects funded by Measure B 2000 were as follows:

Local Streets and Roads - To improve, repair, and overlay city streets.

Bike and Pedestrian - To provide sidewalk and ADA improvements and to implement the bikeway network.

EXHIBIT B
269
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EXHIBIT B
270
Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards
The Honorable City Council
City of Livermore, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (Government Auditing Standards), the financial statements of the Measure B Funds (Fund) of the City of Livermore, California (City), as of and for the year ended June 30, 2024, and have issued our report thereon dated Report December 31, 2024.

Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Fund's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control.

Accordingly, we do not express an opinion on the effectiveness of the Fund's internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that have not been identified.

Page | 10
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EXHIBIT B
271
Page | 11
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Measure B Fund's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements including the applicable compliance requirements specified in the Measure B agreement between the City and Alameda County Transportation Commission, and noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

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

Menlo Park, California
December 31, 2024

EXHIBIT B
272
Page | 12
Independent Auditor’s Report on Compliance
The Honorable Mayor and Members of the City Council
City of Livermore, California
Report on Compliance
Opinion on Compliance with Measure B
We have audited the City of Livermore, California (City) compliance with the compliance requirements applicable to the Measure B Funds (Measure B Funds) of the City of Livermore, California (City), for the year ended June 30, 2024.

In our opinion, the City complied, in all material respects, with the compliance requirements referred to above that are applicable to the Measure B Funds for the year ended June 30, 2024.

Basis for Opinion
We conducted our audit of compliance 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 (Government Auditing Standards) issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of Compliance section of our report.

We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with 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 opinion. Our audit does not provide a legal determination of the City’s compliance with the compliance requirements referred to above.

Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control over compliance with the requirements of laws, statutes, regulations, rules, and provisions of contracts or grant agreements applicable to the City’s government programs.

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EXHIBIT B
273
Page | 13
Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion on the City’s compliance based on our audit. 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, and Government Auditing Standards will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the compliance requirements referred to above is considered material if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the City’s compliance with the requirements of the government program as a whole.

In performing an audit in accordance with GAAS, and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material noncompliance, 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 City’s compliance with the compliance requirements referred to above and performing such other procedures as we considered necessary in the circumstances.
• Obtain an understanding of the City’s internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to test and report on internal control over compliance, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control over compliance. Accordingly, no such opinion is expressed.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit.

Report on Internal Control Over Compliance
A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a compliance requirement will not be prevented, or detected and corrected, on a timely basis.

A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance.

Our consideration of internal control over compliance was for the limited purpose described in the "Auditor’s Responsibilities for the Audit of Compliance" section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did not

EXHIBIT B
274
Page | 14
identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that have not been identified.

Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed.

The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing. Accordingly, this report is not suitable for any other purpose.

Menlo Park, California
December 31, 2024

EXHIBIT B
275

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB FUNDS

FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED JUNE 30, 2024

EXHIBIT C
276

EXHIBIT C
277

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2024

Table of Contents
Page
Independent Auditor’s Report ................................................................................................................ 1 Financial Statements:

Balance Sheet .................................................................................................................................. 5 Statement of Revenues, Expenditures and Changes in Fund Balances ......................................... 6 Notes to Financial Statements ......................................................................................................... 7 Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing
Standards………………………………………………………………………………………………………………….…………………10 Independent Auditor’s Report on Measure BB Compliance …………………………………………………………..12

EXHIBIT C
278

EXHIBIT C
279
Independent Auditor’s Report
To the Honorable Mayor and
Members of the City Council of the
City of Livermore, California
Report on the Audit of the Financial Statements
Opinion
We have audited the Financial Statements of the Measure BB Funds, a special revenue fund of the City of Livermore, California (City), as of and for the year ended June 30, 2024, and the related notes to the financial statements.

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the Measure BB Funds of the City, as of June 30, 2024, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Emphasis of Matter
As discussed in Note 1, the financial statements specific to Measure BB are intended to present the financial position and the changes in financial position attributable to the transactions of that Fund. They do not purport to, and do not, present fairly the financial position of the City as of June 30, 2024, and the changes in its financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter.

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EXHIBIT C
280
Page | 2
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.

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. 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 and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

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.

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.

EXHIBIT C
281
Page | 3
Required Supplementary Information
Management has omitted management's discussion and analysis and budgetary comparison information that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of the financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by this missing information.

Menlo Park, California
December 31, 2024

EXHIBIT C
282
Page | 4

EXHIBIT C
283

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB FUNDS
Page | 5

BALANCE SHEET
As of June 30, 2024
Bike and Local Streets
Pedestrian and Roads Total
ASSETS
Cash and Investments 1,745,071$ 7,347,200$ 9,092,271$ Measure BB Direct Local Distribution
Program Receivable 95,429 400,841 496,270
Total Assets 1,840,500$ 7,748,041$ 9,588,541$

LIABILITIES
Accounts Payable 151,241$ 479,720$ 630,961$
Accrued Liabilities 10,987 30,775 41,762
Total Liabilities 162,228 510,495 672,723

FUND BALANCE
Restricted for Measure BB Programs
and Projects 1,678,272 7,237,546 8,915,818
Total Fund Balances 1,678,272 7,237,546 8,915,818 Total Liabilities & Fund Balances 1,840,500$ 7,748,041$ 9,588,541$ See accompanying notes to financial statements

EXHIBIT C
284

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB FUNDS
Page | 6
Bike and Local Streets
Pedestrian and Roads Total

REVENUES
Measure BB Direct Local Distribution
Program Revenue
Direct Local Distribution Funds Allocation 565,528$ 2,375,455$ 2,940,983$ Interest and Investment Income 35,998 182,420 218,418
Total Program Revenues 601,526 2,557,875 3,159,401

EXPENDITURES
Measure BB Direct Local Distribution
Expense-Current
General Government - 116,042 116,042
Construction 217,371 965,214 1,182,585
Total Program Expenditures 217,371 1,081,256 1,298,627

REVENUES OVER (UNDER) EXPENDITURES/
NET CHANGE IN FUND BALANCE 384,155 1,476,619 1,860,774

FUND BALANCES
Beginning Fund Balance 1,294,117 5,760,927 7,055,044 Ending Fund Balance 1,678,272$ 7,237,546$ 8,915,818$ See accompanying notes to financial statements

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES For the Fiscal Year Ended June 30, 2024

EXHIBIT C
285

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB FUNDS
FOR THE YEAR ENDED JUNE 30, 2024
Page | 7

NOTES TO FINANCIAL STATEMENTS
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
All transactions of the Alameda County Transportation Commission - Measure BB Funds (Measure BB Funds) of the City of Livermore, California (City), are included as a separate special revenue fund in the basic financial statements of the City. The Measure BB Funds are used to account for the City’s share of revenues earned and expenditures incurred under the City’s local streets and roads, and bike and pedestrian programs. The accompanying financial statements are for the Measure BB Funds only and are not intended to fairly present the financial position of the City and the results of its operations.

B. Basis of Accounting
The accompanying financial statements are prepared on the modified accrual basis of accounting.

Revenues are generally recorded when measurable and available, and expenditures are recorded when the related liabilities are incurred.

The accounting and financial reporting treatment applied to a fund is determined by its measurement focus.

All governmental funds are accounted for using a “ current financial resources ” measurement focus, wherein only current assets and current liabilities generally are included on the balance sheets. Operating statements of governmental funds present increased (revenues and other financing sources) and decreased (expenditures and other financing uses) in net current assets.

C. Description of Funds
The accounts are maintained on the basis of fund accounting. A fund is a separate accounting entity with a self-balancing set of accounts. The City uses Special Revenue Funds to account for the proceeds of specific revenues (other than for capital projects) that are legally restricted to be expended for specified purposes.

D. Capital Assets
Capital assets, consisting primarily of infrastructure, are recorded as expenditures and are not capitalized since they will be maintained by the City.

E. Use of Estimates
Management uses estimates and assumptions in preparing the financial statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates.

EXHIBIT C
286

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB FUNDS
FOR THE YEAR ENDED JUNE 30, 2024
Page | 8

NOTES TO FINANCIAL STATEMENTS
NOTE 2 – CASH AND INVESTMENTS
Cash and investments are maintained on a pooled basis with those of other funds of the City. Pooled cash and investments consist of U.S. Treasury or its agencies, money market funds investing in such obligations, negotiable certificates of deposit, commercial paper and medium term corporate notes that meet specified rating requirements, mutual funds, guaranteed investment contracts, repurchase agreements, reverse repurchase agreements when authorized by the City’s Council, the State Treasurer’s investment pool (Local Agency Investment Fund), and banker's acceptances. The City did not enter into any reverse repurchase agreements during 2023-2024. All investments are stated at fair value. Pooled investment earnings are allocated quarterly based on the average quarterly cash and investment balances of the various funds are related entities of the City.

See the City’s Annual Comprehensive Financial Report for disclosures related to cash and investments and the related custodial risk categorization.

NOTE 3 – MEASURE BB FUNDS
Under Measure BB, approved by the voters of Alameda County in 2014, the City receives a portion of the proceeds of an additional 0.5 percent sales tax to be used for transportation-related expenditures. These measures were adopted with the intention that the funds generated by the additional sales tax will not fund expenditures previously paid by property taxes but, rather, would be used for additional projects and programs.

Projects funded by Measure BB 2014 were as follows:

Local Streets and Roads - To improve, repair, and overlay city streets.

Bike and Pedestrian - To provide sidewalk and ADA improvements and to implement the bikeway network.

NOTE 4 - COMMITMENTS AND CONTINGENCIES
The City participates in several grant programs. These programs have been audited by the City’s independent accountants in accordance with the provisions of applicable State requirements. No cost disallowances were 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.

EXHIBIT C
287
Page | 9

EXHIBIT C
288
Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards
The Honorable City Council
City of Livermore, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (Government Auditing Standards), the financial statements of the Measure BB Funds (Measure BB Funds) of the City of Livermore, California (City), as of and for the year ended June 30, 2024, and have issued our report thereon dated Report December 31, 2024.

Accordingly, we do not express an opinion on the effectiveness of the Fund's internal control.

Page | 10
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EXHIBIT C
289
Page | 11
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Measure BB Fund's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements including the applicable compliance requirements specified in the Measure BB agreement between the City and Alameda County Transportation Commission, and noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Menlo Park, California
December 31, 2024

EXHIBIT C
290
Page | 12
Independent Auditor’s Report on Compliance
The Honorable Mayor and Members of the City Council
City of Livermore, California
Report on Compliance
Opinion on Compliance with Measure BB
We have audited the City of Livermore, California (City) compliance with the compliance requirements applicable to the Measure BB Funds (Measure BB Funds) of the City of Livermore, California (City), for the year ended June 30, 2024.

In our opinion, the City complied, in all material respects, with the compliance requirements referred to above that are applicable to the Measure BB Funds for the year ended June 30, 2024.

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4040 Campbell Ave., Ste. 200 | Menlo Park, CA 94025-1053 | T 650.522.3400 | F 650.645.7393 | EOE

EXHIBIT C
291
Page | 13
Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion on the City’s compliance based on our audit. 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, and Government Auditing Standards will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the compliance requirements referred to above is considered material if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the City’s compliance with the requirements of the government program as a whole.

EXHIBIT C
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Page | 14
weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that have not been identified.

Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed.

Menlo Park, California
December 31, 2024

EXHIBIT C
293

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

VEHICLE REGISTRATION FEE PROGRAM (VRF)

FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED JUNE 30, 2024

EXHIBIT D
294

EXHIBIT D
295

CITY OF LIVERMORE

ALAMEDA COUNTY TRANSPORTATION COMMISSION

VEHICLE REGISTRATION FEE PROGRAM (VRF)
Financial Statements
For the Fiscal Year Ended June 30, 2024
Table of Contents
Page
Independent Auditor’s Report ................................................................................................................ 1 Financial Statements:

Balance Sheet .................................................................................................................................. 5 Statement of Revenues, Expenditures and Changes in Fund Balance ........................................... 6 Notes to Financial Statements ......................................................................................................... 7 Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards……………………………………………………………..……9 Independent Auditor’s Report on Vehicle Registration Fee Program Compliance .......................... 11

EXHIBIT D
296

EXHIBIT D
297
Page | 1
Independent Auditor’s Report
To the Honorable Mayor and
Members of the City Council of the
City of Livermore, California
Report on the Audit of the Financial Statements
Opinion
We have audited the Financial Statements of the Measure F Funds, a special revenue fund of the City of Livermore, California (City), as of and for the year ended June 30, 2024, and the related notes to the financial statements.

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the Measure F Funds of the City, as of June 30, 2024, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Emphasis of Matter
As discussed in Note 1, the financial statements specific to Measure F are intended to present the financial position and the changes in financial position attributable to the transactions of that Fund. They do not purport to, and do not, present fairly the financial position of the City as of June 30, 2024, and the changes in its financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter.

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4040 Campbell Ave., Ste. 200 | Menlo Park, CA 94025-1053 | T 650.522.3400 | F 650.645.7393 | EOE

EXHIBIT D
298
Page | 2
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.

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. 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 and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

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.

EXHIBIT D
299
Page | 3
Required Supplementary Information
Management has omitted management's discussion and analysis and budgetary comparison information that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of the financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by this missing information.

Livermore City CouncilFebruary 10, 2025

Livermore City Council
February 10, 2025