CITY OF LOMITA
Annual Comprehensive Financial Report
Year Ended June 30, 2024
TABLE OF CONTENTS
Page
INTRODUCTORY SECTION:
Transmittal Letter i
List of Principal Officials vii
Organization Charts viii
GFOA Certificate of Achievement for Excellence in Financial Reporting iv FINANCIAL SECTION:
Independent Auditors’ Report 1
Management’s Discussion and Analysis
(Required Supplementary Information) 4
Basic Financial Statements
Government-wide Financial Statements:
Statement of Net Position 13
Statement of Activities 14
Fund Financial Statements:
Government Funds:
Balance Sheet 16
Reconciliation of the Balance Sheet of Governmental Funds to Statement of Net Position 17
Statement of Revenues, Expenditures and Changes in Fund Balances 18 Reconciliation of Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to Statement of Activities 19 Proprietary Fund:
Statement of Net Position 20
Statement of Revenues, Expenses and Changes in Net Position 21 Statement of Cash Flows 22
Fiduciary Fund:
Statement of Fiduciary Net Position – Private Purpose Trust Funds 23 Statement of Changes in Fiduciary Net Position – Private Purpose Trust Funds 24 Notes to the Financial Statements 25
CITY OF LOMITA
LIST OF CITY OFFICIALS
ELECTED OFFICIALS
Mayor Bill Uphoff
Mayor Pro Tem Mark A. Waronek
Council Member James Gazeley
Council Member Cindy Segawa
Council Member Barry Waite
CITY STAFF
City Manager Andrew Vialpando
Assistant City Manager Gary Sugano
City Attorney Trevor Rusin, Best, Best & Krieger
Administrative Services Director Susan Kamada
Community & Economic
Development Director Brianna Rindge
Interim Public Works Director Lina Hernandez
City Council City Manager Administrative Services Director Senior Accountant Accountant (Payroll) Accounting Technician Accounting Assistant (2) Community & Economic Dev Director Associate Planner Assistant Planner PT Planning Intern Code Enforcement Supervisor Code Enforcement Officer Assistant City Manager City Clerk Deputy City Clerk Administrative Assistant Human Resources Manager Senior Management Analyst Parking Enforcement Supervisor PT Parking Enforcement Officers Management Assistant Administrative Analyst Parks & Recreation Director Facilities Supervisor Lead Worker- Facilities Maintenance Worker II PT Maintenance Aide Recreation Supervisor PT Asst Recreation Coordinators PT Recreation Leaders Recreation Supervisor Recreation Coordinator PT Asst Recreation Coordinators PT Recreation Leaders (Museum) PT Recreation Leaders Administrative Assistant Public Works Director Chief Water Operator Manager PW Lead Worker- Water Treatment Water Treatment Plant Operator (2) PW Lead Worker- Water Distribution Water Service Tech II (2) Water Service Tech I PW Superintendent Streets/Trees/ Park Maint. PW Lead Worker- Street/Trees Maintenance Worker II (2) Maintenance Worker I (2) PT Maintenance Aide PW Lead Worker- Park Maintenance Worker II (2) Maintenance Worker I (2) PT Maintenance Aide Principal Engineer Associate Engineer Engineering Technician PT Engineering Intern Water Quality & Environmentalist Specialist Management Analyst Planning Commission (7) Public Safety & Traffic Commission (5) Parks & Recreation Commission (5) City Attorney Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Lomita
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2023
Executive Director/CEO
Government Auditing Standards
Government Auditing Standards
Government
Auditing Standards
4 5
6 7
8 $-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
General
government
Public safety Public works Community
development
Community
services
Culture and
recreation
9 10
11 Governmental Fund Financial Statements
Proprietary Fund Financial Statements
Fiduciary Fund Financial Statements
36 CITY OF LOMITA
NOTES TO BASIC FINANCIAL STATEMENTS
(Continued)
(1) Reporting City and Summary of Significant Accounting Policies, (Continued) (p) New Accounting Pronouncements
For the year ended June 30, 2024, the financial statements include the adoption of GASB Statement No. 100, Accounting Changes and Error Corrections. The primary objective of this statement is to enhance accounting and financial reporting requirements for accounting changes (such as changes in accounting principles and estimates) and error corrections to provide more understandable, reliable, consistent, and comparable information for making decisions or assessing accountability. See Note 14 for the effect on the current year financial statements.
(q) Leases and Subscription Agreements
Lessee: The City is a lessee for a noncancellable lease of equipment and software subscriptions. The City recognizes a lease or subscription agreement liability and an intangible right-to-use lease or subscription agreement asset (lease asset) in the government-wide financial statements. The City recognizes lease liabilities with an initial, individual value of $5,000 or more.
At the commencement of a lease or subscription agreement, the City initially measures the lease liability at the present value of payments expected to be made during the lease or subscription agreement term. Subsequently, the liability is reduced by the principal portion of payments made. The lease or subscription agreement asset is initially measured as the initial amount of the liability, adjusted for payments made at or before the commencement date, plus certain initial direct costs. Subsequently, the asset is amortized on a straight-line basis over its useful life.
Key estimates and judgments related to leases include how the City determines (1) the discount rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) payments. The City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for leases.
The term includes the noncancellable period of the lease. Lease payments included in the measurement of the liability are composed of fixed payments and purchase option price that the City is reasonably certain to exercise.
The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the lease liability.
Lease or subscription agreement assets are reported with other capital assets and lease or subscription agreement liabilities are reported with long-term debt on the Statement of Net Position.
SPECIAL REVENUE FUNDS:
CAPITAL PROJECTS FUNDS:
NON-MAJOR GOVERNMENTAL FUNDS
The following funds have been classified as non-major funds in the accompanying financial statements.
State Gas Tax Fund - Used to account for monies received from the State and County for gas sales.
Capital Improvement Fund - Used to account for the acquisition, construction and improvement of capital facilities and infrastructure. The projects are funded by transfers from the General Fund.
American Rescue Plan Act Fund - Used to account for City's use of emergency and rescue plan activities using ARPA COVID-19 funds received from the Department of Treasury.
Measure W Fund - Used to fund projects dedicated to increase local water supply, improve water quality, and protect public health.
Community Development Block Grant Fund - Used to account for federal grants for programs benefiting low-income persons and/or families.
Measure M Fund - Used to account for street improvement projects on a cost reimbursement basis.
Measure R Fund - Used to account for street improvement projects.
Transportation Development Act Fund - Used to account for funds received from the State for improvements of local streets and roads.
Proposition A Fund - Used to account for the City's share of Proposition A Local Return Funds from County sales tax dollars.
Park Grant Fund - Used to account for the grant funds received for park development and improvements.
Landscape Maintenance Fund - Used to account for assessment funds collected on property tax bills for Landscape Maintenance District #1.
Park Facilities Fund - Used to account for Park Development Tax and QUIMBY Act funds.
Air Quality Plan AB 2766 Fund - Used to account for funds received from the South Coast AQMD that were derived from clean air fees.
Park Athletic Fund - Used to account for user charges for park athletic programs. programs of the City-owned senior housing complex, Lomita Manor.
CLEEP Fund - Used to account for the purchase of specialized equipment and software to enhance public safety.
City of Lomita
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
2024 2023 2022 2021 2020
Governmental activities:
Net investment in capital assets 22,807,111 $ 22,718,159 $ 22,183,927 $ 20,121,459 $ 20,331,203 $ Restricted 6,864,545 9,594,104 7,593,689 7,018,655 5,139,262 Unrestricted 9,652,385 2,472,644 (1,553,860) (3,058,698) (4,982,190) Total governmental activities net position 39,324,041 $ 34,784,907 $ 28,223,756 $ 24,081,416 $ 20,488,275 $ Business-type activities:
Net investment in capital assets 22,078,749 $ 21,559,554 $ 20,844,231 $ 18,200,296 $ 18,452,593 $ Restricted - - - - -
Unrestricted 5,657,897 5,846,832 2,673,936 3,602,880 1,882,888 Total business-type activities net position 27,736,646 $ 27,406,386 $ 23,518,167 $ 21,803,176 $ 20,335,481 $ Primary government:
Net investment in capital assets 44,885,860 $ 44,277,713 $ 43,028,158 $ 38,321,755 $ 38,783,796 $ Restricted 6,864,545 9,594,104 7,593,689 7,018,655 5,139,262 Unrestricted (1)
8,319,476 15,310,282 1,120,076 544,182 (3,099,302)
Total primary government net position 67,060,687 $ 62,191,293 $ 51,741,923 $ 45,884,592 $ 40,823,756 $ (1) GASB 75 was implemented June 30, 2018. The recording of the City's net OPEB liability resulted in a negative unrestricted net asset balance.
Fiscal Year
2019 2018 2017 2016 2015
$ 19,933,570 20,579,331 $ 17,033,665 $ 18,274,572 $ 18,192,046 $ 2,952,055 4,002,512 2,641,909 3,676,616 3,354,468
(4,506,553) (4,384,212) (969,590) (726,465) (621,965)
$ 18,379,072 20,197,631 $ 18,705,984 $ 21,224,723 $ 20,924,549 $ $ 16,255,533 17,995,090 $ 15,480,584 $ 16,158,075 $ 15,498,223 $ - - - 175,847 678,501
2,822,396 1,675,608 3,088,795 2,553,377 2,472,870
$ 19,077,929 19,670,698 $ 18,569,379 $ 18,887,299 $ 18,649,594 $ $ 36,189,103 38,574,421 $ 32,514,249 $ 34,432,647 $ 33,690,269 $ 2,952,055 4,002,512 2,641,909 3,852,463 4,032,969
(1,684,157) (2,708,604) 2,119,205 1,826,912 1,850,905
$ 37,457,001 39,868,329 $ 37,275,363 $ 40,112,022 $ 39,574,143 $ Fiscal Year
City of Lomita
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
2024 2023 2022 2021 2020
Expenses:
Governmental activities:
General government 4,663,391 $ 3,651,972 $ 4,615,742 $ 3,516,508 $ 3,097,344 $ Public safety 5,010,478 4,624,434 4,385,150 4,122,368 3,843,357 Public works 1,868,583 1,584,797 1,557,665 2,345,393 1,830,924 Community development 1,371,669 1,022,436 985,098 720,677 691,477 Community services 836,331 701,673 1,684,425 861,971 713,824 Culture and Recreation 1,826,108 1,688,139 1,731,965 1,127,697 1,365,464 Interest 8,475 - - - -
Total governmental activities expenses 15,585,035 14,256,203 13,977,293 12,546,467 11,690,537 Business-type activities:
Water Enterprise Operating Expenses 8,064,372 5,168,136 7,011,399 6,746,049 7,196,441 Total business-type activities expenses 8,064,372 5,168,136 7,011,399 6,746,049 7,196,441 Total primary government expenses 23,649,407 19,424,339 20,988,692 19,292,516 18,886,978 Program revenues:
Governmental activities:
Charges for services:
General government 60,000 60,000 160,000 60,000 60,000
Public safety 727,215 653,278 600,451 473,892 392,639
Public works 203,713 207,675 201,162 233,172 210,123
Community development 1,568,916 2,053,254 1,375,786 2,418,941 811,739 Community services 335,681 351,857 313,479 330,030 310,261 Cultural and Recreation 408,955 285,069 381,421 197,254 197,198 Operating grants and contributions 3,441,655 5,790,820 5,347,576 3,100,247 2,320,210 Capital grants and contributions 548,502 723,342 621,557 526,724 531,777 Total governmental activities
program revenues 10,302,980 7,116,952 9,001,432 7,216,133 4,958,074 Business-type activities:
Charges for services:
Water 6,972,510 6,108,357 6,344,367 6,433,700 6,023,257 Operating grants and contributions - - - - -
Capital grants and contributions - - - - -
Total business-type activities
program revenues 6,108,357 6,972,510 6,344,367 6,433,700 6,023,257 Total primary government
program revenues 16,411,337 14,089,462 15,345,799 13,649,833 10,981,331 Net revenues (expenses):
Governmental activities (8,468,083) (3,953,223) (4,975,861) (5,330,334) (6,732,463) Business-type activities (1,091,862) 940,221 (667,032) (312,349) (1,173,184) Total net revenues (expenses) (9,559,945) (3,013,002) (5,642,893) (5,642,683) (7,905,647) Fiscal Year
9 2019 2018 2017 2016 2015
$ 4,078,593 4,488,587 $ 3,507,091 $ 3,123,342 $ 2,899,057 $ 3,549,113 3,633,645 3,309,683 3,108,606 3,016,259
1,850,296 1,496,818 2,028,211 1,440,942 868,679
878,350 683,449 763,932 816,396 732,230
926,762 920,398 1,480,018 861,319 1,177,247
1,388,433 1,124,928 1,199,067 1,196,613 1,205,707
- - - - -
12,671,547 12,347,825 12,288,002 10,547,218 9,899,179
5,816,026 6,025,969 5,221,613 4,938,566 4,982,663
5,816,026 6,025,969 5,221,613 4,938,566 4,982,663
18,487,573 18,373,794 17,509,615 15,485,784 14,881,842
60,000 60,000 60,000 60,000 60,000
386,780 441,691 373,933 364,735 377,159
224,714 228,755 193,363 211,337 189,668
1,612,396 846,262 992,241 1,413,611 1,075,688
299,478 324,675 314,290 306,110 267,026
430,563 340,053 368,800 261,195 334,994
2,221,458 2,910,425 2,194,576 1,516,695 1,831,908
713,374 516,581 779,612 328,664 417,909
5,328,608 6,434,576 5,130,836 4,198,223 4,818,476
5,330,322 5,629,363 4,789,815 4,435,449 4,594,551
- - - - -
- - - - -
5,330,322 5,629,363 4,789,815 4,435,449 4,594,551
10,658,930 12,063,939 9,920,651 8,633,672 9,413,027
(7,342,939) (5,913,249) (7,157,166) (6,348,995) (5,080,703) (485,704) (396,606) (431,798) (503,117) (388,112)
(7,828,643) (6,309,855) (7,588,964) (6,852,112) (5,468,815) Fiscal Year
City of Lomita
Changes in Net Position, Continued
Last Ten Fiscal Years
(accrual basis of accounting)
2024 2023 2022 2021 2020
General revenues and other changes in net position:
Governmental activities:
Taxes:
Property taxes 2,093,294 2,112,200 1,990,207 1,893,942 1,776,468 Sales tax 4,866,947 4,944,221 5,040,048 2,637,134 1,884,061 Transient occupancy taxes 230,035 190,861 133,484 148,228 198,839 Refuse Tax 346,598 444,351 327,045 285,240 303,799
Business Licence Tax 678,225 811,363 688,309 650,737 630,812 Franchise Taxes 410,506 410,744 384,293 350,249 368,062 Other taxes 45,942 125,157 75,521 50,165 283,986
Motor vehicle in lieu, unrestricted 2,944,395 2,789,586 2,633,390 2,520,716 2,390,550 Investment income (loss) 1,226,641 (316,365) (915,599) 202,981 13,242 Other general revenues 1,315,586 1,003,914 31,015 84,428 72,943 Gain on sales of property - - - - -
Transfers - (1,730,488) (1,269,512) - (800,000)
Total governmental activities 14,429,339 10,514,374 9,118,201 8,923,475 7,023,107 Business-type activities:
Investment income 186,429 90,970 10,472 73,877 7,720
Other 1,235,693 1,126,540 1,102,039 1,772,324 964,090
Transfers - 1,730,488 - 1,269,512 800,000
Total business-type activities 1,422,122 2,947,998 2,382,023 1,780,044 1,837,967 Total primary government 15,851,461 13,462,372 11,500,224 10,703,519 8,861,074 Changes in net position
Governmental activities 5,961,256 6,561,151 4,142,340 3,593,141 290,644 Business-type activities 330,260 3,888,219 1,714,991 1,467,695 664,783 Total primary government 6,291,516 $ 10,449,370 $ 5,857,331 $ 5,060,836 $ 955,427 $ Fiscal Year
2019 2018 2017 2016 2015
1,657,387 1,639,059 1,523,888 1,748,361 1,807,043
1,769,925 2,011,963 1,625,596 1,474,499 1,289,649
180,278 185,632 178,239 150,091 133,642
258,776 267,502 253,270 243,783 242,841
617,755 652,617 544,333 550,167 584,131
345,511 347,479 335,077 400,033 357,134
51,760 54,910 16,000 4,000 20,550
2,142,009 2,263,193 2,038,861 1,939,675 1,842,511
(40,487) 167,410 7,322 138,154 67,806
33,113 143,293 341,477 406 11,226
- - - - -
- - 2,733 - -
7,016,027 7,733,058 6,866,796 6,649,169 6,356,533
10,737 78,302 9,563 7,447 4,128
983,517 911,073 827,067 733,375 871,796
- - - (2,733) -
994,254 989,375 833,897 740,822 875,924
8,010,281 8,722,433 7,700,693 7,389,991 7,232,457
(326,912) 1,819,809 (290,370) 300,174 1,275,830
508,550 592,769 402,099 237,705 487,812
$ 181,638 2,412,578 $ 111,729 $ 537,879 $ 1,763,642 $
Fiscal Year
10 City of Lomita
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
2024 2023 2022 2021 2020
General fund:
Nonspendable 33,681 $ 22,805 $ 28,777 $ 25,095 $ 24,561 $ Committed 85,744 85,744 85,744 85,744 85,744
Assigned 9,771,337 9,022,199 6,304,510 7,334,625 5,591,510 Unassigned 1,582,266 1,531,302 1,105,086 1,098,165 980,273 Total general fund 11,473,028 10,662,050 8,554,232 7,513,514 6,682,088 All other governmental funds:
Nonspendable 9,525 4,030 3,670 3,332 4,095
Restricted 5,013,286 4,070,880 2,767,734 3,409,072 1,879,238 Committed 5,083,586 3,834,124 2,850,143 2,841,524 2,400,803 Assigned 2,953,479 2,296,719 1,505,677 1,552,838 855,145 Unassigned 1,230,439 1,230,439 857,321 (106,537) (266,125) Total all other governmental funds 14,290,315 11,436,192 8,664,425 7,020,349 4,873,156 Grand Total 25,763,343 22,098,242 14,533,863 17,218,657 11,555,244 Fiscal Year
2019 2018 2017 2016 2015
$ 20,384 22,444 $ 18,896 $ 499,516 $ 281,510 $
89,343 85,744 89,343 104,132 22,500
5,274,835 5,853,930 5,180,075 4,986,341 4,111,396
1,002,484 980,422 1,544,373 789,516 1,516,969
6,387,046 6,942,540 6,832,687 6,379,505 5,932,375
3,053 5,016 6,185 1,130 1,227
1,382,246 602,516 987,480 1,137,673 1,151,250
1,229,487 1,777,503 1,192,592 1,318,552 1,548,912
746,778 837,747 877,480 1,210,815 843,681
(505,587) (10,268) (375,303) (2,785) (177,025)
2,461,211 3,992,244 2,303,470 3,678,962 3,354,468
8,848,257 10,934,784 9,136,157 10,058,467 9,286,843
Fiscal Year
City of Lomita
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
2024 2023 2022 2021 2020
Revenues:
Taxes and assessments 9,536,084 $ 9,426,524 $ 9,293,309 $ 6,922,990 $ 5,619,851 $ Intergovernmental 9,352,488 6,197,146 8,392,801 5,788,221 4,784,452 Licenses and permits 2,112,485 1,565,551 1,315,005 2,428,326 886,378 Charges for services 8,818 10,317 9,466 7,824 20,390
Fines and forfeitures 818,565 683,623 619,001 394,939 496,842 Investment income (loss) (174,784) 1,373,179 (899,406) 23,839 321,521 Rental income 569,171 585,130 537,171 493,144 521,382
Other 104,677 404,961 120,377 76,341 126,436
Total revenues 20,055,707 22,518,228 19,387,724 16,135,624 12,777,252 Expenditures
Current:
General government 4,739,297 3,961,115 3,654,560 2,909,752 2,738,871 Community development 1,124,403 1,476,064 914,687 685,949 663,348 Community services 1,681,448 832,994 686,419 691,979 840,928 Public works 1,307,722 1,755,405 1,371,232 1,345,083 1,194,563 Public safety 4,642,386 5,030,426 4,371,832 4,119,547 3,842,231 Cultural and recreation 1,848,705 1,886,883 1,551,436 1,096,712 1,353,101 Capital outlay 775,131 (801,695) 2,285,223 907,943 532,191 Debt service:
Principal retirement 41,500 36,525 3,823 - -
Interest and fiscal charges 8,475 - - - -
Total expenditures 14,964,374 15,382,410 14,839,212 11,756,965 11,165,233 Excess (deficiency) of
revenues over (under)
expenditures 5,091,333 7,135,818 4,548,512 4,378,659 1,612,019 Other financing sources (uses):
Transfers in 807,800 1,382,860 980,164 923,260 12,000
Transfers out (3,821,828) (1,100,000) (2,323,260) (2,862,606) (812,000) Proceeds from leases 182,735 - 18,724 - -
Issuance of bonds - - - - -
Payment to bond escrow agent - - - - -
Total other financing
sources (uses) (292,200) (2,256,233) (1,863,718) (1,400,000) (800,000) Net change in fund balances 4,799,133 4,879,585 2,684,794 2,978,659 812,019
0.29% 0.28% 0.03% n/a n/a
Fiscal Year
Ratio of total debt service
expenditures to total noncapital
expenditures.
2019 2018 2017 2016 2015
$ 5,390,929 5,578,097 $ 4,929,177 $ 5,036,023 $ 5,100,944 $ 4,604,060 5,808,278 3,713,536 3,715,286 3,485,555
1,150,494 1,768,927 1,054,795 1,250,947 1,558,515
25,384 26,937 20,210 19,571 20,628
444,580 463,291 376,733 372,735 387,659
(31,440) 247,567 20,354 147,297 72,312
511,890 527,172 489,831 514,200 444,488
95,697 233,783 756,655 62,772 59,673
12,191,594 14,654,052 11,361,291 11,118,831 11,129,774
3,047,279 3,803,130 2,687,690 2,735,363 2,553,174
857,609 656,309 745,442 799,282 722,548
908,870 901,046 1,464,068 846,556 1,168,895
1,047,337 1,058,516 1,072,359 925,359 783,041
3,549,113 3,632,226 3,309,683 3,108,606 3,016,259
1,388,433 1,109,354 1,199,067 1,196,613 1,205,707
1,608,353 1,205,694 1,768,025 710,564 927,446
- - - - -
- - - - -
12,406,994 12,366,275 12,246,334 10,322,343 10,377,070
(215,400) 2,287,777 (885,043) 796,488 752,704
357,616 338,343 135,490 339,569 317,553
(538,343) (430,116) (172,757) (439,569) (372,553)
- - - - -
- - - - -
- - - - -
(200,000) (72,500) (37,267) (100,000) (55,000)
(287,900) 2,087,777 (922,310) 696,488 697,704
n/a n/a n/a n/a n/a
Fiscal Year
City of Lomita
Assessed Value and Estimated Actual Value of Taxable Property Last Ten Fiscal Years
Fiscal Year Taxable Percent Total
Ended Less: Assessed Change Direct Tax
June 30 Secured Unsecured Exemptions 1 Value Residential Income Industrial Total Rate 2014/15 1,909,903,891 32,194,065 1,942,097,956 4.08% 4,583 473 16 5,072 0.10263% 2015/16 2,014,069,980 31,249,739 2,045,319,719 5.31% 4,579 477 16 5,072 0.10263% 2016/17 2,117,244,522 32,349,456 2,149,593,978 5.10% 4,580 477 15 5,072 0.10263% 2017/18 2,225,454,844 31,629,569 2,257,084,413 5.00% 4,580 475 15 5,070 0.10263% 2018/19 2,351,141,143 35,125,603 2,386,266,746 5.72% 4,598 475 14 5,087 0.10263% 2019/20 2,520,927,188 35,884,762 2,556,811,950 7.15% 4,602 470 14 5,086 0.10263% 2020/21 2,665,742,123 36,097,437 2,701,839,560 5.67% 4,613 473 14 5,100 0.10263% 2021/22 2,729,191,737 34,661,192 2,763,852,929 2.30% 4,632 473 14 5,119 0.10263% 2022/23 2,893,245,881 38,292,998 2,931,538,879 6.07% 4,631 472 14 5,117 0.10263% 2023/24 3,053,698,384 37,128,107 3,090,826,491 5.43% 4,633 473 14 5,120 0.10263% Source: HdL, Coren & Cone
County of Los Angeles, Auditor-Controller Office/Tax Division City Parcel Counts
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 re-assessed at the time that it is sold to a new owner. At that point, the new assessed value is reassessed at the purchase price of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.
City of Lomita
Direct and Overlapping Property Tax Rates
(Rate per $100 of assessed value)
Last Ten Fiscal Years
2024 2023 2022 2021 2020 2019 2018 2017 2016 (2) 2015
City Direct Rates:
City Lomita Tax District 1 0.066600 0.066600 0.066600 0.066600 0.066600 0.066600 0.066600 0.066550 0.066550 0.066550 Lomita Waterworks 0.036100 0.036100 0.036100 0.036100 0.036100 0.036100 0.036100 0.036080 0.036080 0.036080 Total City Direct Rate 0.102700 0.102700 0.102700 0.102700 0.102700 0.102700 0.102700 0.102630 0.102630 0.102630 LA County General 0.214700 0.214700 0.214700 0.214700 0.214700 0.214700 0.214700 0.214700 0.214700 0.214700 LA County Other 0.209050 0.209050 0.209050 0.209050 0.209050 0.209050 0.209050 0.209110 0.209110 0.209110 Water Replenishment S.C. 0.000160 0.000160 0.000160 0.000160 0.000160 0.000160 0.000160 0.000160 0.000160 0.000160 LA Sanitary District 0.011090 0.011090 0.011090 0.011090 0.011090 0.011090 0.011090 0.011090 0.011090 0.011090 LA Unified School
District 0.207800 0.207800 0.207800 0.207800 0.207800 0.207800 0.207800 0.207830 0.207830 0.207830 Educational Revenue
Augmentation Fund 0.204800 0.204800 0.204800 0.204800 0.204800 0.204800 0.204800 0.204800 0.204800 0.204800 LA Community College 0.028200 0.028200 0.028200 0.028200 0.028200 0.028200 0.028200 0.028200 0.028200 0.028200 LA County Library 0.021500 0.021500 0.021500 0.021500 0.021500 0.021500 0.021500 0.021480 0.021480 0.021480 Total Prop 13 Rate 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 Overlapping Rates:
LA County Bonds 0.060230 0.043760 0.024880 0.040160 0.027170 0.046210 0.045990 0.035960 0.035750 0.040170 LA County Storm Drain - - - - - - - - - -
LA Unified School Bonds 0.124220 0.113230 0.121070 0.139930 0.125520 0.123230 0.122190 0.131100 0.129710 0.146880 Palos Verdes Penninsula - - - - - - - - 0.023290 -
West Basin MWD 0.003500 0.003500 0.003500 0.003500 0.003500 0.003500 0.003500 0.003500 0.003500 0.003500 Voter Approved Rate 0.149450 0.187950 0.160490 0.183590 0.156190 0.172940 0.171680 0.170560 0.168960 0.213840 Total Tax Rate 1.149450 1.187950 1.160490 1.183590 1.156190 1.172940 1.171680 1.170560 1.168960 1.213840 Source: L.A. County Assessor 2014/15-2023/24 Tax Rate Table, HdL, Coren & Cone Fiscal Year
In 1978, California voters passed Proposition 13 which sets the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of the Los Angeles Unified School District bonds.
City of Lomita
Principal Property Owners
Current Year and Prior Year
Top Ten
Percent of Percent of
Total City Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Value Value Value
Weiss Investment Properties LP 2 r 18,952,560 0.61% 18,581,095 0.60% Sabra Lomita LP 1 i 18,931,012 0.61% 18,559,817 0.60%
BRFI Lomita LLC 4 c 16,672,915 0.54% 11,165,263 0.36%
Spectrum Pacific West LLC 4 u 14,736,060 0.48% 15,759,014 0.51% Lomita & Crenshaw Acquistion 5 c 13,859,504 0.45% 11,681,632 0.38% Vista Verde Center LLC 1 c 12,008,661 0.39% 11,773,198 0.38% Mittal Legacy LP 8 r 11,502,416 0.37% 10,758,895 0.35%
JCM Homes LLC 21 r 10,069,802 0.33% 10,610,254 0.34%
William B Ghadimi 1 r 10,040,358 0.32% 9,843,489 0.32%
Spencer Plaza LLC 10 r 9,761,299 0.32% 9,569,909 0.31%
Top Ten Totals 136,534,587 4.42% 128,302,566 4.15%
City Totals 3,090,826,491 $ 2,931,538,879 $
USE:
Commercial c
Institutional i
Residentail r
Unsecured u
Vacant v
Source: L.A. County Assessor 2023/24 Combined Tax Rolls and the SBE Non Unitary Tax Roll, HdL, Coren & Cone Parcels Use 2022/23 2021/22
City of Lomita
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal Taxes Levied Collections in
Year Ended for the Percent Subsequent Percent
June 30 Fiscal Year Amount of Levy Years Amount of Levy 2015 1,945,923 61,109 3.14% 136,902 198,011 10.18%
2016 69,970 2,056,573 3.40% 206,028 136,059 10.02%
2017 89,443 2,158,376 4.14% 175,188 85,746 8.12%
2018 110,520 2,279,687 4.85% 196,980 86,460 8.64%
2019 81,748 2,361,888 3.46% 171,251 89,503 7.25%
2020 2,550,889 (1) 106,504 4.18% 195,348 88,844 7.66%
2021 113,995 2,702,917 4.22% 212,416 98,421 7.86%
2022 181,539 2,803,540 6.48% 287,226 105,687 10.25%
2023 114,457 2,961,666 3.86% 226,244 111,787 7.64%
2024 118,552 3,147,280 3.77% 231,042 112,490 7.34%
NOTE: The amounts presented include City property taxes and Redevelopment Agency tax increment. This schedule also includes amounts collected by the City and Redevelopment Agency that were passed-through to other agencies. (1) Correction for fiscal year 2020
Source: Los Angeles County Auditor Controller's Office
Collected within the
Fiscal Year of Levy Total Collections to Date
City of Lomita
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Fiscal Year Pension Certificates Total
Ended Revenue Obligation of Leases Subscription Governmental June 30 Bonds Ref Bonds Participation Payable Liabilities Other Activities 2015 n/a n/a n/a n/a n/a n/a -
2016 n/a n/a n/a n/a n/a n/a -
2017 n/a n/a n/a n/a n/a n/a -
2018 n/a n/a n/a n/a n/a n/a -
2019 n/a n/a n/a n/a n/a n/a -
2020 n/a n/a n/a n/a n/a n/a -
2021 n/a n/a n/a n/a n/a n/a -
2022 n/a n/a n/a 14,901 n/a n/a 14,901
2023 (2) n/a n/a n/a 11,234 141,235 n/a 152,469
2024 (3) n/a n/a n/a 7,528 104,710 n/a 112,238
Notes: Details regarding the City's outstanding debt can be found in the notes to the financial statements.
In July 2021, the City refunded the 2016 Water Revenue Refunding Bonds with a Private Placement Loan in the amount of $6,081,000
(1) Net of applicable premium or discount
(2) Correction for fiscal year 2022
(3) Correction for fiscal year 2023
Governmental Activities
Total Total Percentage Debt
Bonds Business-type Primary of Personal per
Payable (1) Other Activities Government Income Capita
n/a 6,600,347 6,600,347 6,600,347 9.01% 323
n/a 7,200,000 7,200,000 7,200,000 8.16% 355
n/a 6,985,000 6,985,000 6,985,000 8.82% 342
6,750,000 n/a 6,750,000 6,750,000 9.90% 326
n/a 6,505,000 6,505,000 6,505,000 10.62% 314
n/a 6,255,000 6,255,000 6,255,000 12.34% 304
n/a 5,995,000 5,995,000 5,995,000 13.05% 293
n/a 5,855,549 5,855,549 5,870,450 13.24% 285
n/a 5,521,179 5,521,179 5,673,648 15.51% 282
n/a 5,182,731 5,182,731 5,294,969 18.14% 261
Business-type Activities
City of Lomita
Legal Debt Margin Information
Last Ten Fiscal Years (in thousands of dollars)
2024 2023 2022 2021 2020
Assessed valuation 3,090,826,491 $ 2,931,538,879 $ 2,763,852,929 $ 2,653,562,437 $ 2,514,269,367 $ Conversion percentage 25.00% 25.00% 25.00% 25.00% 25.00% Adjusted assessed valuation 772,706,623 732,884,720 690,963,232 663,390,609 628,567,342 Debt limit percentage 15.00% 15.00% 15.00% 15.00% 15.00% Debt limit 115,905,993 109,932,708 103,644,485 99,508,591 94,285,101 Total net dept applicable to limit:
General obligation bonds - - - - -
Legal debt margin 115,905,993 $ 109,932,708 $ 103,644,485 $ 99,508,591 $ 94,285,101 $ Total net debt applicable to the limit
as a percent of debt limit 0% 0% 0% 0% 0%
Lomita Long Term Debt outstanding: 5,294,969 5,673,648 5,870,450 5,995,000 6,255,000 Debt per capita: 260.58 282.38 284.52 293.43 304.44
Debt as a percentage of personal income: 18.89% 16.25% 13.54% 13.05% 12.34% Section 43605 of the Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation. However, this provision was enacted when assessed valuation was based upon 25% OF MARKET VALUE. Effective with 1981-82 fiscal year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for that parcel). The Computations shown above reflect a conversion of assessed valuation data for each fiscal year from current full valuation perspective to the 25% level that was in effect at the time the legal debt margin was enacted by the State of California for local governments located within the State.
In July 2021, the City refunded the 2016 Water Revenue Refunding Bonds with a Private Placement Loan in the amount of $6,081,000
2019 2018 2017 2016 2015
$ 2,257,084,413 2,386,266,746 $ 2,149,593,978 $ 2,045,319,719 $ 1,942,097,956 $
25.00% 25.00% 25.00% 25.00% 25.00%
564,271,103 596,566,687 537,398,495 511,329,930 485,524,489
15.00% 15.00% 15.00% 15.00% 15.00%
89,485,003 84,640,665 80,609,774 76,699,489 72,828,673
- - - - -
$ 84,640,665 89,485,003 $ 80,609,774 $ 76,699,489 $ 72,828,673 $ 0% 0% 0% 0% 0%
6,505,000 6,750,000 6,985,000 7,200,000 6,665,000
313.71 325.85 342.35 354.85 322.92
10.62% 9.90% 8.82% 8.16% 9.01%
City of Lomita
Pledged Revenue Coverage
Last Ten Years
Fiscal Year Less Net
Ended Water Operating Available
June 30 Revenue* Expenses** Revenue Principal Interest Total Coverage 2015 5,466,347 $ 4,080,838 $ 1,385,509 $ 160,000 $ 338,513 $ 498,513 $ 2.78 2016 5,168,824 $ 4,032,400 $ 1,136,424 $ 170,000 $ 332,113 $ 502,113 $ 2.26 2017 5,616,882 $ 4,321,380 $ 1,295,502 $ 215,000 $ 251,550 $ 466,550 $ 2.78 2018 6,313,840 $ 4,858,095 $ 1,455,744 $ (1) $ 227,013 235,000 $ 462,013 $ 3.15 2019 6,540,437 $ 5,063,714 $ 1,476,723 $ 245,000 $ 219,375 $ 464,375 $ 3.18 2020 6,921,842 $ 5,486,250 $ 1,435,593 $ (2) $ 211,413 250,000 $ 461,413 $ 3.11 2021 8,206,024 $ 5,764,712 $ 2,441,312 $ 260,000 $ 203,288 $ 463,288 $ 5.27 2022 7,446,407 $ 6,421,035 $ 1,025,372 $ 337,000 $ 127,129 $ 464,129 $ 2.21 2023 7,234,936 $ 4,950,569 $ 2,284,367 $ 328,000 $ 137,008 $ 465,008 $ 4.91 2024 8,208,203 $ 6,962,410 $ 1,245,793 $ 332,000 $ 129,034 $ 461,034 $ 2.70 * Excludes interest income
** Excludes depreciation and interest income
Notes: Details regarding the City's Water Fund outstanding debt can be found in the notes to the financial statements.
In July 2021, the City refunded the 2016 Water Revenue Refunding Bonds with a Private Placement Loan in the amount of $6,081,000
(1) Correction for fiscal year 2018
(2) Correction for fiscal year 2020
Source: City of Lomita, Administrative Services Department - Finance Certificates of Participation
Debt Service
City of Lomita
Direct and Overlapping Debt
City Assessed Valuation 3,090,826,491 $
Redevelopment Agency Incremental Valuation -
Total Assessed Valuation 3,090,826,491 $
Estimated
Share of
Percentage Outstanding Overlapping
Applicable 1 Debt 6/30/24 Debt
Overlapping Tax and Assessment Debt:
Metropolitan Water District 0.080% 18,210,000 $ 14,568
LA Community College District 0.272% 5,155,845,000 14,023,898 LA Unified School District 0.332% 10,723,385,000 35,601,638 Total Gross Overlapping Tax and Assessment Debt 15,897,440,000 49,640,105 Less: LA Unified School District supported general obligation bonds - 994,262 Total Gross Overlapping Tax and Assessment Debt 15,897,440,000 48,645,843 Overlapping General Fund Debt:
LA County General Fund Obligations 0.154% 2,479,229,730 $ 3,818,014 LA County Superintendent of Schools Certificates of Participation 0.154% 4,400 2,857,300 LA Unified School District Certificates of Participation 0.332% 471,590,000 1,565,679 Total Overlapping General Fund Debt 2,953,677,030 5,388,093 Total Overlapping Debt 18,851,117,030 $ 54,033,935
City of Lomita Direct Debt 5,294,969
Total Direct and Overlapping Debt 1 $ 59,328,904
Notes:
1 For debt repaid with property taxes, the percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable percentages were estimated by determining the portion of another governmental unit's taxable assessed value that is within the city's boundaries and dividing it by each unit's total taxable assessed value.
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.
Source: California Municipal Statistics, Inc., Los Angeles County Assessor's Office June 30, 2024
City of Lomita
Demographic and Economic Statistics
Last Ten Calendar Years
Personal Per Capital Lomita
Calendar City of Lomita Median Income Personal Unemployment Year Population (1) Age (2) (in thousands) (3) Income (4) Rate (5) 2015 20,640 40.3 600,583 29,098 5.9%
2016 20,290 40.3 28,943 587,263 4.8%
2017 20,403 40.8 30,180 615,782 3.7%
2018 20,715 40.4 32,261 668,303 4.6%
2019 20,736 40.7 33,275 690,910 4.3%
2020 20,549 40.1 37,566 771,963 16.5%
2021 20,431 40.1 38,287 782,242 5.6%
2022 20,633 40.5 37,683 777,527 2.3%
2023 20,092 39.5 43,807 880,182 2.2%
2024 20,320 40.5 47,270 960,538 2.1%
Source: (1) California State Department of Finance
(2) U.S. Department of Commerce Bureau of Economic Analysis, Census Bureau (3) U.S. Department of Commerce Bureau of Economic Analysis, Census Bureau (4) U.S. Department of Commerce Bureau of Economic Analysis, Census Bureau (5) California Employment Development Department
City of Lomita
Principal Employers
Current Year and Nine Years Ago
Percent of Percent of
Number of Total Number of Total
Employer Business Type Employees Employment Employees Employment Lomita Post-Acute Care Center Nursing Facility 127 1.19% 80 0.76% City of Lomita Government 95 0.89% 81 0.77%
Target Retail 85 0.79% n/a n/a
Kaiser Permanente Medical 80 0.75% n/a n/a
Palos Verdes Health Care Center Nursing Facility 72 0.67% 42 0.40% Nishiyamato Acedemy of California Education 44 0.41% n/a n/a Thompson Building Materials Building 38 5.78% 40 11.02% Travers Tree Service Service 30 4.56% 60 n/a
Starbucks Corporation Tea/Coffee Shop 30 0.28% 60 n/a
Western Veterinary Group Animal Services 29 0.27% n/a n/a CVS Retail 28 0.26% n/a n/a
Total Top Ten Employers 658 363
Total City Employment 10,700 10,500
NOTE: Non-Governmental Employers.
Several potential businesses that may qualify for Top 10 ranking. However, current employee counts were unattainable at the time of report preparation. Previous historical data is not available.
Source: City of Lomita, Economic Development Department State of California, Employment Development Department
2024 2015
City of Lomita
Full-time and Part-time City Employees
by Function
Last Ten Fiscal Years
Function 2024 2023 2022 2021 2020 2019 2018 2017 2016 (2) 2015 General government 20 20 12 14 12 12 9 12 11 12
Public safety (1)
- - - - - - - - - -
Public works 16 16 12 13 10 9 10 9 7 8
Community Services 5 5 5 5 5 6 4 10 8 10
Water 7 7 6 7 7 7 7 7 6 6
Community Development 5 6 5 3 4 3 6 6 4 3
Parks and Recreation 41 37 37 34 37 42 49 46 43 42
Total 95 90 77 76 75 79 85 90 79 81
(1) Police and fire services are provided by Los Angeles County. (2) Correction for fiscal year 2016.
Source: City of Lomita, Administrative Services Department - Finance Full-Time and Part-time Employees as of June 30
City of Lomita
Operating Indicators
by Function
Last Ten Fiscal Years
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
(1) Police:
Arrests 398 513 477 663 815 994 865 913 n/a n/a
Parking citations issued 9588 9838 9001 7368 6001 6612 6201 5564 5380 6124 (2) Fire:
Number of emergency calls 2017 2006 1804 1016 1740 2920 1827 1816 1770 1476 Inspections 514 804 899 0 200 1488 763 579 n/a n/a
Public works:
Street resurfacing (miles) n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Parks and recreation:
Number of recreation classes 205 184 186 18 331 319 278 328 295 269 Number of facility rentals 295 378 403 10 179 407 475 402 344 422 Water:
New connections - - - - - - - - - -
Average daily consumption
(thousands of gallons) n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Sewer:
New connections n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Average daily sewage treatment
(thousands of gallons) n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a (1) Deputy Sheriffs and Community Service Officers are provided through a contract with the Los Angeles County Sheriff's Department. (2) Fire Protection and Fire Personnel are provided through a contract with the Los Angeles County Fire Department.
Due Covid-19 pandemic, business inspections are on hold and there no Brush inspections. n/a Data is unavailable to include in this report.
Source: City of Lomita, Administrative Services Department Los Angeles County Fire Department
City of Lomita
Capital Asset Statistics
by Function
Last Ten Fiscal Years
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
(1) Police:
Stations 1 1 1 1 1 1 1 1 1 1
(2) Fire:
Fire stations 1 1 1 1 1 1 1 1 1 1
Public works:
Streets (miles)(5) 31.90 31.90 31.90 31.90 33.20 31.00 31.00 31.00 31.00 31.00 Streetlights 58 58 58 58 58 58 58 58 58 58
Traffic signals n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Parks and recreation:
Parks 7 7 7 7 7 7 7 7 7 6
Rail Road Museum 1 1 1 1 1 1 1 1 1 1
Community centers 1 1 1 1 1 1 1 1 1 1
Water System :
Length of Pipes (LF)(3) 228,975 228,975 228,975 228,975 228,975 228,015 228,015 228,015 228,015 228,015 Number of Pump Stations 3 3 3 3 3 3 3 3 3 3
Number of Catch Basin(6) 69 69 69 69 72 69 69 42 42 42
Number of Service Connection 4,357 4,357 4,357 4,357 4,357 4,314 4,314 4,312 4,241 4,241 Sewer System:
Length of Pipes (LF)(4) 188,415 188,415 188,415 188,415 188,415 173,931 173,931 173,931 173,931 173,931 Number of manholes 883 883 883 883 883 882 882 882 882 882 Maximum daily treatment capacity
(thousands of gallons) n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a (1) Deputy Sheriffs and Community Service Officers are provided through a contract with the Los Angeles County Sheriff's Department. (2) Fire Protection and Fire Personnel are provided through a contract with the Los Angeles County Fire Department. (3) Corrected length of pipes in lateral feet to match our 2019 Water Loss Audit Report, 2015 Water Master Plan, 2004 Water Master Plan. (4) Corrected length of pipes in lateral feet to match our 2016 Sewer System Management Plan (5) Corrected miles to match our 2020 Pavement Management Plan (6) Corrected catch basins - City of Lomita Public Works performed field check; three basins either erroneous or duplicates. n/a Data is unavailable to include in this report.
Source: City of Lomita, Administrative Services Department Los Angeles County Fire Department
Los Angeles County Department of Public Works
Fiscal Year
City of Lomita
Water Department
Water Sold by Type of Customer
Last Ten Fiscal Years
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Type of Customer:
Residential 4,057 4,003
(2)
3,970 (2) 4,004 (1) 3,966 (2) 3,975 (1) 3,971 (1) 3,960 (1) 3,849 (2) 3,917 (1) Schools 21 21 21 21 21 25 25 21 21
(1)
17 Commercial 286 (1) 283 (1) 281 (1) 279 279
(1)
270 (1) 261 266 246 246
Churches 31 32 31 30
(2)
31 31 31 32 32 31
Government 72 72 72 72 72
(1)
17 17 14 12 10
City 18 18 18 18 18 19 19 18 13 15
Total 4,486 4,428 4,393 4,424 4,337 4,329 4,306 4,175 4,234 4,219 Total direct rate
per 748 gallons 5.03 5.35 4.79 4.79 4.79 4.43 4.12 3.81 3.53 3.53 (2) Vacancies
(3) Type correction
Source: City of Lomita, Administrative Services Department - Finance (1) New development
Fiscal Year
City of Lomita
Water Department
Water Rates
Last Ten Fiscal Years
Fiscal Bi-Monthly Rate per
Year Ended Base 748
June 30 Rate Gallons
2015 (1) 36.90 3.53
2016 36.90 3.53
2017 39.73 3.81
2018 42.90 4.12
2019 46.78 4.43
2020 50.31 4.79
2021 50.31 4.79
2022 50.31 4.79
2023 (2) 53.81 5.03
2024 57.31 5.35
NOTE:
(1) A new water rate structure went into effect March 1, 2015. (2) A new water rate structure went into effect January 1, 2023.
Rates are based on 5/8" meter, which is the standard household meter size.
City of Lomita
Ratios of General Bonded Debt Outstanding
Last Ten Fiscal Years (dollars in thousands, except per capita) Percentage
Fiscal Year Tax Pension Certificates of Actual
Ended Revenue Allocation Obligation of Value Per
June 30 Bonds Bonds Ref Bonds Participation Total of Property (1) Capita (2) 2015 n/a n/a n/a n/a - n/a n/a
2016 n/a n/a n/a n/a n/a - n/a
2017 n/a n/a n/a n/a n/a - n/a
2018 n/a n/a n/a n/a n/a - n/a
2019 n/a n/a n/a n/a n/a - n/a
2020 n/a n/a n/a n/a n/a - n/a
2021 n/a n/a n/a n/a n/a - n/a
2022 n/a n/a n/a n/a n/a - n/a
2023 n/a n/a n/a n/a n/a - n/a
2024 n/a n/a n/a n/a n/a - n/a
(1) See Schedule 6 for property value data.
(2) Population data can be found in Schedule 16.
Ten years of data is not available.
General Bonded Debt Outstanding