City Council Regular Agenda
December 15, 2025
NOTICE TO THE PUBLIC – This Agenda contains a brief general description of each item to be considered. Except as provided by law, action or discussion shall not be taken on any item not appearing on the agenda. Supporting documents, including staff reports, are available for review at City Hall in the City Clerk’s Office or on the City’s website at www.cityoflosalamitos.org once the agenda has been publicly posted.
Each matter on the agenda, no matter how described, shall be deemed to include any appropriate motion, whether to adopt a minute motion, resolution, payment of any bill, approval of any matter or action, or any other action. Items listed as “for information” or “for discussion” may also be the subject of an “action” taken by the City Council at the same meeting.
Agenda-related documents provided to a majority of the City Council after distribution of the City Council agenda packet (GC §54957.5) will be made available for public inspection at the meeting. Such documents will also be available at the City Clerk's office, 3191 Katella Ave., Los Alamitos, CA 90720.
In compliance with the Americans with Disabilities Act, Assistive Listening headphones are available and can be checked out from the City Clerk. If you need special assistance to participate in this meeting, please contact the City Clerk at (562) 431-3538, ext. 220. Notification at least 42 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting. [28 CFR 35.102.35.104 ADA Title II]. Language translation services are available for this meeting by calling the City Clerk’s Office least 42 hours in advance If you are unable to attend this meeting in person, you may submit comments on any agenda item or on any item not on the agenda by email to [email protected] with the subject line “COUNCIL PUBLIC COMMENT”. Comments received by 3:00 p.m. the day of the meeting will be compiled, provided to the City Council, and made available to the public before the start of the meeting. Staff will not read email comments at the meeting. You may also view the meeting live on local cable channel 3.
If, as an attendee, or a participant at this meeting, you will need special assistance beyond what is normally provided, please contact the City Clerk’s Office at (562) 431-3538, extension 220, at least 48 hours prior to the meeting so that reasonable arrangements may be made.
CITY OF LOS ALAMITOS
Council Chamber
3191 Katella Ave., Los Alamitos CA 90720
CITY COUNCIL AGENDA
REGULAR MEETING
Monday, December 15, 2025 – 6:00 PM
1. CALL TO ORDER
2. ROLL CALL
Mayor Hasselbrink
Mayor Pro Tem Doby
Council Member Hibard
Council Member Loe
Council Member Nefulda
3. PLEDGE OF ALLEGIANCE
Council Member Loe will lead the Pledge of Allegiance.
4. INVOCATION
Council Member Nefulda will give the Invocation.
City Council Regular Agenda
December 15, 2025
5. PRESENTATIONS
A. Presentations to Mayor Shelley Hasselbrink from Outside Agencies for Service as Mayor in 2025
B. Legislative Update Provided by Orange County Supervisor Janet Nguyen
6. ORAL COMMUNICATIONS
At this time, any individual in the audience may come forward to speak on any item within the subject matter jurisdiction of the City Council. Remarks are to be limited to not more than five minutes per speaker.
7. UPDATES FROM THE MAYOR
At this time, the Mayor may report on items not specifically described on the Agenda that are of interest to the community, provided no action or discussion is taken.
8. UPDATES FROM THE CITY STAFF
At this time, City Staff may also report on items not specifically described on the Agenda that are of interest to the community, provided no action or discussion is taken except to provide direction to Staff to place an item on a future agenda.
9. WARRANTS
A. Warrants (Finance)
The attached Warrant Register contains checks and electronic funds transfers for the period from November 1, 2025, to November 30, 2025.
Recommendation: Ratify the Warrants from November 1, 2025, to November 30, 2025, for $2,230,182.05.
ROLL CALL
Mayor Hasselbrink
Mayor Pro Tem Doby
Council Member Hibard
Council Member Loe
Council Member Nefulda
10. CONSENT CALENDAR
All Consent Calendar items may be acted upon by one motion unless a Council Member requests separate action on a specific item.
City Council Regular Agenda
December 15, 2025
A. Annual Comprehensive Financial Report for June 30, 2025 (Finance)
The fiscal year 2024-25 audit reports are presented for the Council's receipt and consideration.
Recommendation: Receive and file the fiscal year 2024-25 audit reports.
B. Ordinance No. 2025-13 - State Mandated Update to Accessory Dwelling Unit (ADU) Regulations (ZOA 25-04)
Consideration of a Planning Commission resolution recommending that the City Council adopt Ordinance No. 2025-13 to amend and restate Section 17.28.020 of the Los Alamitos Municipal Code concerning the regulation of Accessory Dwelling Units (ZOA 25-04). The City Council introduced Ordinance No. 2025-13, at its Regular Meeting on November 17, 2025.
Recommendation: Adopt Ordinance No. 2025-13, entitled, “AN
ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LOS
ALAMITOS, CALIFORNIA, AMENDING AND RESTATING SECTION
17.28.020 OF THE LOS ALAMITOS MUNICIPAL CODE CONCERNING THE REGULATION OF ACCESSORY DWELLING UNITS (ZOA 25-04)." C. Resolution No. 2025-39 - Beverage Container Recycling City/County Payment Program FY 2025-26 (Development
Services)
This item requests Council approval of a resolution authorizing the City’s participation in the Fiscal Year (FY) 2025–2026 CalRecycle Beverage Container Recycling C ity/County Payment Program, which supports statewide efforts to achieve and maintain high recycling rates.
Recommendation:
1. Adopt Resolution No. 2025-39, entitled, “A RESOLUTION OF THE
CITY COUNCIL OF THE CITY OF LOS ALAMITOS, CALIFORNIA,
APPROVING THE CITY’S PARTICIPATION IN CALRECYCLE’S
BEVERAGE CONTAINER RECYCLING CITY/COUNTY
PROGRAM TO SUPPORT THE ACHIEVEMENT AND
MAINTENANCE OF HIGH RECYCLING RATES”; and,
2. Authorize the City Manager to execute all Beverage Container Recycling Program documents concerning beverage container recycling program funds distribution for FY 2025-26.
City Council Regular Agenda
December 15, 2025
D. Resolution No. 2025-42- Workers Compensation for Volunteers (Administration)
This report outlines and seeks consideration to approve Resolution No. 2025-42 to clarify volunteers as employees for the purpose of workers’ compensation coverage.
Recommendation: Adopt Resolution No. 2025-42, entitled, “A
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LOS
ALAMITOS, CALIFORNIA, DECLARING ALL VOLUNTEERS TO BE
EMPLOYEES FOR THE PURPOSE OF WORKERS’ COMPENSATION
AND INSURANCE LAW”.
11. SPECIAL ORDERS OF THE DAY
A. Comments by Outgoing Mayor Shelley Hasselbrink
B. Presentation to Mayor Shelley Hasselbrink from the City for her Tenure as Mayor
C. City Council Reorganization (Administration)
This report provides relevant information for the City Council’s annual reorganization, by the election of Mayor and Mayor Pro Tem. The City’s Charter requires roll call votes be taken for the election of these two Officers.
Recommendation: Elect Officers for the position of Mayor and Mayor Pro Tem by roll call vote.
D. City Council Member Appointments/Reappointments as
Representatives to other Agencies and City Committees for 2026 (Administration)
This report provides relevant information for the City Council’s annual appointments/reappointments of Council Members as representatives to other Agencies.
Recommendation:
1. Nominate and vote for appointments/reappointments regarding the Representatives to Other Agencies; and,
2. Nominate and vote for appointment to the City's Standing Committees; and,
3. Adopt Resolution No. 2025-40, entitled, “A RESOLUTION OF
THE CITY COUNCIL OF THE CITY OF LOS ALAMITOS,
CALIFORNIA, DESIGNATING AND APPOINTING ITS
City Council Regular Agenda
December 15, 2025
REPRESENTATIVE TO THE ORANGE COUNTY FIRE
AUTHORITY’S BOARD OF DIRECTORS”; and,
4. Authorize the City Clerk to complete California Form 806, Agency Report of: Public Official Appointments and post on the City’s website.
12. COUNCIL ANNOUNCEMENTS
At this time, Council Members may also report on items not specifically described on the Agenda that are of interest to the community, provided no action or discussion is taken except to provide Staff direction to report back or to place the item on a future Agenda.
13. ADJOURNMENT
I hereby certify under penalty of perjury under the laws of the State of California, that the foregoing Agenda was posted at the Los Alamitos City Hall, 3191 Katella Ave. and online at www.cityoflosalamitos.org not less than 72 hours prior to the meeting.
Windmera Quintanar, MMC, City Clerk
Dated: December 11, 2025
City of Los Alamitos
CITY COUNCIL AGENDA REPORT
MEETING DATE: December 15, 2025 ITEM NUMBER: 9A
To: Mayor Shelley Hasselbrink & Members of the City Council Presented By: Craig Koehler, Director of Finance
Subject: Warrants
SUMMARY
The attached Warrant Register contains checks and electronic funds transfers for the period from November 1, 2025, to November 30, 2025.
RECOMMENDATION
Ratify the Warrants from November 1, 2025, to November 30, 2025, for $2,230,182.05.
BACKGROUND
The expenditures noted within this Warrant Register conform to the budget approved by the Council.
DISCUSSION
The Director of Finance certifies the accuracy of the attached register and the availability of monies for payment thereof.
FISCAL IMPACT
The total of $2,230,182.05 represents checks and electronic funds transfers from November 1, 2025, to November 30, 2025.
Attachment: 1. Council Report - 12.15.2025
Pages:
1-14 1,206,968.33 $ Warrants 11/01/2025-11/30/2025
15 $ 8,681.54 Medical Retirees 11/01/2025
16 $ 463,795.49 Earnings & Employer Taxes 11/07/2025
17 $ 83,187.47 Employer Benefits 11/07/2025
18 $ 386,322.06 Earnings & Employer Taxes 11/21/2025
19 $ 81,227.16 Employer Benefits 11/21/2025
Grand Total 2,230,182.05 $
Statement:
I hereby certify that the claims or demands covered by the forgoing listed warrants have been audited as to accuracy and availability of funds for payment thereof.
Certified by Craig Koehler, Finance Director/City Treasurer this 1st day of December, 2025
The attached Warrant Register containing checks and electronic funds transfers for the period from November 01, 2025 to November 30, 2025, is being presented for ratification by the City Council. The expenditures noted within this Warrant Register conform to the budget approved by the City Council. The Director of Finance certifies to the accuracy of the attached register and to the availability of monies for payment thereof.
To Ratify
CITY OF LOS ALAMITOS
A/P Warrants
December 15, 2025
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
AGILE OCCUPATIONAL MEDICINE PC PRE-EMPLOYMENT PHYSICAL GENERAL FUND NON-DEPARTMENTAL 1,510.00_ TOTAL: 1,510.00
ALL CITY MANAGEMENT SERVICES CROSS GUARDS 07/06-07/19 GENERAL FUND TRAFFIC 3,628.80 CROSS GUARDS 08/17-08/30 GENERAL FUND TRAFFIC 7,631.75
CROSS GUARDS 08/31-09/13 GENERAL FUND TRAFFIC 6,850.51_ TOTAL: 18,111.06
ANGELINA'S FAMOUS PIZZA PINE STREATS GRANT REIMBUR GENERAL FUND ECONOMIC DEVELOPMENT 5,000.00_ TOTAL: 5,000.00
ANIMAL PEST MANAGEMENT SERVICES GOPHER CTRL AT PARKS 10/25 GENERAL FUND PARK MAINTENANCE 490.00_ TOTAL: 490.00
BADGE FRAME, INC. SMITH NAME PLATE 09/25 GENERAL FUND POLICE ADMINISTRATION 32.00 SAIZ NAME PLATE 09/25 GENERAL FUND POLICE ADMINISTRATION 32.00_ TOTAL: 64.00
BASE HILL INC JANITORIAL SVCS 10/25 GENERAL FUND BUILDING MAINTENANCE 5,809.99_ TOTAL: 5,809.99
BEAR ELECTRICAL SOLUTIONS LLC TRAFFIC SIGNAL SVCS 07/25 GENERAL FUND STREET MAINTENANCE 1,415.00_ TOTAL: 1,415.00
BLUE 360 MEDIA, LLC CA PENAL CODE BOOKS 2026 GENERAL FUND PATROL 182.28 CA VEH CODE BOOKS 2026 GENERAL FUND PATROL 145.39_
TOTAL: 327.67
BUBBLE ROLLERS AND EMERALD EVENTS WW ICE SKATING RINK GENERAL FUND NON-DEPARTMENTAL 18,000.00_ TOTAL: 18,000.00
BUTTER & CREAM PINE STREATS GRANT REIMBUR GENERAL FUND ECONOMIC DEVELOPMENT 2,876.86_ TOTAL: 2,876.86
CALIFORNIA FORENSIC PHLEBOTOMY, INC. BLOOD DRAWS 09/25 GENERAL FUND PATROL 1,250.62_ TOTAL: 1,250.62
CALIRICA LLC CONSULTING SVCS 10/25 GENERAL FUND ADMINISTRATION 3,000.00_ TOTAL: 3,000.00
CALPERS 25/26 PERS UAL PYMT 5 GENERAL FUND ADMINISTRATION 18,665.66 25/26 PERS UAL PYMT 5 GENERAL FUND FINANCE 6,489.73
25/26 PERS UAL PYMT 5 GENERAL FUND PATROL 22,181.68
25/26 PERS UAL PYMT 5 GENERAL FUND INVESTIGATION 85,780.64 25/26 PERS UAL PYMT 5 GENERAL FUND RECORDS 12,813.34
25/26 PERS UAL PYMT 5 GENERAL FUND YOUTH SERVICES 2,640.43 25/26 PERS UAL PYMT 5 GENERAL FUND TRAFFIC 3,656.54
25/26 PERS UAL PYMT 5 GENERAL FUND K-9 UNIT 3,319.34
25/26 PERS UAL PYMT 5 GENERAL FUND COMMUNITY DEVEL ADMIN 3,656.70 25/26 PERS UAL PYMT 5 GENERAL FUND COMMUNITY DEVEL ADMIN 15,093.38 25/26 PERS UAL PYMT 5 GENERAL FUND PLANNING 2,608.56
25/26 PERS UAL PYMT 5 GENERAL FUND NEIGHBORHOOD PRESERVAT 1,896.73 25/26 PERS UAL PYMT 5 GENERAL FUND STREET MAINTENANCE 7,156.86 25/26 PERS UAL PYMT 5 GENERAL FUND ECONOMIC DEVELOPMENT 363.42 25/26 PERS UAL PYMT 5 GENERAL FUND RECREATION ADMINISTRAT 21,116.15 TOTAL: 207,439.16
1
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
CARRI FOX LINE DANCE DROP IN 10/15/2 GENERAL FUND SPECIAL CLASSES 37.80 LINE DANCE DROP IN 10/29/2 GENERAL FUND SPECIAL CLASSES 29.40_ TOTAL: 67.20
CHALLENGER SPORTS CORP TINY TYKES 09/07-10/26 GENERAL FUND SPECIAL CLASSES 627.25_ TOTAL: 627.25
CHARTER COMMUNICATIONS FIBER INTERNET 10/25 GENERAL FUND NON-DEPARTMENTAL 1,734.00 CITY PHONE LINES 10/25 GENERAL FUND NON-DEPARTMENTAL 474.68_ TOTAL: 2,208.68
CITY OF LONG BEACH Q1 ANIMAL CTRL SVCS GENERAL FUND NEIGHBORHOOD PRESERVAT 41,631.68_ TOTAL: 41,631.68
CLINICAL COUNSELING WITH TSELANE SOUND BATH 10/24/25 GENERAL FUND SPECIAL CLASSES 40.95_ TOTAL: 40.95
COUNTY OF ORANGE TREASURER-TAX AFIS 08/25 GENERAL FUND COMMUNICATIONS TECHNOL 358.00 OCATS 08/25 GENERAL FUND COMMUNICATIONS TECHNOL 1,273.33 AFIS 09/25 GENERAL FUND COMMUNICATIONS TECHNOL 358.00
TDML WATER STUDY FY25/26 GENERAL FUND NPDES 1,234.13_
TOTAL: 3,223.46
DAILY JOURNAL CORPORATION PL COMMISSION NOTICE 10/25 GENERAL FUND PLANNING 151.25 CIP 24/25-08 BID NOTICE GENERAL FUND CAPITAL PROJECTS 470.50_ TOTAL: 621.75
DANIELS TIRE SERVICE CE 2 TIRE SVCS 08/29/25 GARAGE FUND GARAGE 447.96_ TOTAL: 447.96
DIGITAL SCEPTER CORPORATION PREVENTION SOFTWARE 11/25 TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 4,672.45_ TOTAL: 4,672.45
DOG WASTE DEPOT DOG PARK WATER FOUNTAIN GENERAL FUND PARK MAINTENANCE 4,307.85_ TOTAL: 4,307.85
ECOFERT, INC. FERTIGATION SVCS 08/25 GENERAL FUND PARK MAINTENANCE 921.00 FERTIGATION SVCS 10/25 GENERAL FUND PARK MAINTENANCE 1,000.00_ TOTAL: 1,921.00
ELITE MAINTENANCE & TREE SERVICE LANDSCAPE SVCS 10/25 GENERAL FUND STREET MAINTENANCE 11,462.35_ TOTAL: 11,462.35
EMPLOYMENT DEVELOPMENT DEPT. UNEMPLOYMENT INS Q3 SELF INSURANCE TRU INSURANCE 4,565.48_ TOTAL: 4,565.48
EWING IRRIGATION STREET SUPPLIES GENERAL FUND BUILDING MAINTENANCE 512.06_ TOTAL: 512.06
FACILITRON INC AQUATICS PRGM POOL RENTAL GENERAL FUND AQUATICS 7,648.58_ TOTAL: 7,648.58
FRONTIER COMMUNICATIONS JAIL ALARM 10/25 GENERAL FUND PATROL 384.74_ TOTAL: 384.74
GALLS LLC POLICE AIDE UNIFORMS GENERAL FUND RECORDS 191.81 2
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
POLICE AIDE UNIFORMS GENERAL FUND TRAFFIC 209.93
POLICE AIDE UNIFORMS GENERAL FUND TRAFFIC 109.35
POLICE AIDE UNIFORMS GENERAL FUND TRAFFIC 287.34
POLICE AIDE UNIFORMS GENERAL FUND TRAFFIC 236.81
POLICE AIDE UNIFORMS GENERAL FUND TRAFFIC 46.15_
TOTAL: 1,081.39
GANAHL LUMBER COMPANY POWER WASHER SUPPLIES 10/2 GENERAL FUND STREET MAINTENANCE 242.32 PAINT SUPPLIES 10/16/25 GENERAL FUND PARK MAINTENANCE 100.68 PAINT SUPPLIES 10/16/25 GENERAL FUND PARK MAINTENANCE 1,782.87 BLDG MAINT SUPPLIES 10/16/ GENERAL FUND BUILDING MAINTENANCE 47.22_ TOTAL: 2,173.09
GEORGE HILLS COMPANY, INC. LIABILITY SVC FEE 11/25 SELF INSURANCE TRU INSURANCE 1,531.25_ TOTAL: 1,531.25
GOLDEN STATE WATER COMPANY WATER BILL 11/25 GENERAL FUND STREET MAINTENANCE 3,123.56 WATER BILL 11/25 GENERAL FUND STREET MAINTENANCE 3,075.82 WATER BILL 11/25 GENERAL FUND PARK MAINTENANCE 6,305.56 WATER BILL 11/25 GENERAL FUND PARK MAINTENANCE 762.60
WATER BILL 11/25 GENERAL FUND BUILDING MAINTENANCE 373.75_ TOTAL: 13,641.29
GRACE BALINT DINE & DOUGH ENTERTAINMENT GENERAL FUND NON-DEPARTMENTAL 120.00_ TOTAL: 120.00
GREAT AMERICA FINANCIAL SERVICES PRINTER LEASE PYMT 11/25 GENERAL FUND NON-DEPARTMENTAL 2,267.28_ TOTAL: 2,267.28
HDL COREN & CONE PROP TAX SVCS 10/25-12/25 GENERAL FUND FINANCE 1,685.88_ TOTAL: 1,685.88
HI-WAY SAFETY, INC. STREET SWEEP SIGNS 10/25 GENERAL FUND STREET MAINTENANCE 242.42 TRAFFIC SAFETY SIGNS GENERAL FUND CAPITAL PROJECTS 14,412.47_ TOTAL: 14,654.89
HIRSCH & ASSOCIATES, INC. SOROPOTIMIST PARK PB#6 GENERAL FUND CAPITAL PROJECTS 1,125.00_ TOTAL: 1,125.00
HISPANIC ARBORIST ASSOCIATION PW ARBORIST TRAINING GENERAL FUND STREET MAINTENANCE 3,850.00_ TOTAL: 3,850.00
HOMECOURT EDGE BASKETBALL LLC HCE DROP IN 10/12/25 GENERAL FUND SPECIAL CLASSES 16.00 HCE DROP IN 10/09/25 GENERAL FUND SPECIAL CLASSES 80.00 HCE DROP IN 10/14/25 GENERAL FUND SPECIAL CLASSES 32.00 HCE DROP IN 10/16/25 GENERAL FUND SPECIAL CLASSES 80.00 HCE DROP IN 10/26/25 GENERAL FUND SPECIAL CLASSES 16.00 HCE DROP IN 10/23/25 GENERAL FUND SPECIAL CLASSES 112.00 •HCE DROP IN 10/28/25 GENERAL FUND SPECIAL CLASSES 32.00 HCE DROP IN 10/05-10/26 GENERAL FUND SPECIAL CLASSES 160.00 HCE DROP IN 10/02-10/30 GENERAL FUND SPECIAL CLASSES 128.00 HCE DROP IN 10/02-10/30 GENERAL FUND SPECIAL CLASSES 176.80 HCE DROP IN 10/02-10/30 GENERAL FUND SPECIAL CLASSES 344.00 HCE DROP IN 10/02-10/30 GENERAL FUND SPECIAL CLASSES 1,276.50 HCE DROP IN 10/07-10/28 GENERAL FUND SPECIAL CLASSES 84.00 HCE DROP IN 10/05-10/26 GENERAL FUND SPECIAL CLASSES 84.00 3
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
_______________
TOTAL: 2,621.30
INTERCARE HOLDING INSURANCE SERVICES ADMIN FLAT FEE 11/25 SELF INSURANCE TRU INSURANCE 1,241.79_ TOTAL: 1,241.79
KIDZ TALENT ACADEMY YOUTH GYM & TUMBLING GENERAL FUND SPECIAL CLASSES 196.95 KIDDIE GYM & TUMBLING GENERAL FUND SPECIAL CLASSES 443.95_ TOTAL: 640.90
KINETIC PERSONNEL GROUP AP SPECIALIST SVCS 10/25 GENERAL FUND FINANCE 1,333.00 AP SPECIALIST SVCS 10/25 GENERAL FUND FINANCE 1,376.00
AP SPECIALIST SVCS 11/25 GENERAL FUND FINANCE 1,247.00
AP SPECIALIST SVCS 11/25 GENERAL FUND FINANCE 1,032.00_ TOTAL: 4,988.00
KIWANIS CLUB OF LOS ALAMITOS KIWANIS MEMBERSHIP FY25/26 GENERAL FUND RECREATION ADMINISTRAT 280.00_ TOTAL: 280.00
KRONOS SASHR INC PAYROLL UKG SVCS 10/25 GENERAL FUND FINANCE 3,635.17 PAYROLL SVC FEE 10/25 GENERAL FUND FINANCE 57.25_
TOTAL: 3,692.42
LA HERRADURA MOBIL DETAIL PD CAR WASHES 10/20/25 GARAGE FUND GARAGE 225.00 PW CAR WASHES 10/20/25 GARAGE FUND GARAGE 135.00
REC CAR WASHES 10/20/25 GARAGE FUND GARAGE 135.00
PD CAR WASHES 10/27/25 GARAGE FUND GARAGE 565.00
REC CAR WASHES 10/27/25 GARAGE FUND GARAGE 90.00
PD CAR WASHES 11/03/25 GARAGE FUND GARAGE 580.00
PW CAR WASHES 11/03/25 GARAGE FUND GARAGE 225.00
REC CAR WASHES 11/03/25 GARAGE FUND GARAGE 90.00_
TOTAL: 2,045.00
LOS ALAMITOS LOCK SERVICE CITY REKEY PROJECT 09/25 GENERAL FUND BUILDING MAINTENANCE 12,175.93_ TOTAL: 12,175.93
LOS ALAMITOS SENIOR CLUB INSURANCE REIMBURSE 09/25 GENERAL FUND ADMINISTRATION 2,085.54_ TOTAL: 2,085.54
M&N COASTLINE AUTO & TIRE SERVICE PD 48-3 VEHICLE SVCS 10/25 GARAGE FUND GARAGE 420.11_ TOTAL: 420.11
MARJANI BUILDINGS, INC. CIP 24/25-02 RETENTION #4 GENERAL FUND NON-DEPARTMENTAL 14,244.36- CIP 24/25-02 PAY APP #4 GENERAL FUND CAPITAL PROJECTS 284,887.17_ TOTAL: 270,642.81
MISC. VENDOR ADELA MAXIMO: FACILITY DEP GENERAL FUND 20.00 CRAIG & SHARI VERNER: REFU GENERAL FUND 350.00
STEVEN G. WILLIAMS: REFUND GENERAL FUND 325.00
A DELGADO: TRAINING REIMBU GENERAL FUND 206.90
ADELA MAXIMO
CRAIG & SHARI VERNER
STEVEN G. WILLIAMS
A DELGADO
N SAIZ N SAIZ: TRAVEL REIMBURSE GENERAL FUND
NON-DEPARTMENTAL
NON-DEPARTMENTAL
NON-DEPARTMENTAL
PATROL
COMMUNITY OUTREACH 137.20_
TOTAL: 1,039.10
MOLLY H. KNOX FITNESS WITH MOLLY 10/25 GENERAL FUND NON-DEPARTMENTAL 440.00 4
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
_______________
TOTAL: 440.00
MV CHENG ASSOCIATES, INC. HR CONSULTANT 10/25 GENERAL FUND ADMINISTRATION 4,620.00 HR CONSULTANT 09/25 GENERAL FUND ADMINISTRATION 5,700.00 ACCT CONSULT SVCS 10/25 L GENERAL FUND FINANCE 5,890.00_ TOTAL: 16,210.00
NEWPORT EXTERMINATING CC PEST CONTROL 10/25 GENERAL FUND BUILDING MAINTENANCE 75.00_ TOTAL: 75.00
NORM'S AUTO COLLISION CENTER, INC. PD 48-2 VEHICLE SVCS 10/2 GARAGE FUND GARAGE 5,719.03_ TOTAL: 5,719.03
OPEN SKY PRODUCTIONS LLC LOS AL DRONE SHOW DEPOSIT GENERAL FUND ECONOMIC DEVELOPMENT 7,650.00_ TOTAL: 7,650.00
OPENGOV, INC. OPENGOV SVCS FY25/26 GENERAL FUND NON-DEPARTMENTAL 3,472.88_ TOTAL: 3,472.88
ORANGE COUNTY SANITATION DISTRICT OCSD UUT REIMBURSEMENT GENERAL FUND NON-DEPARTMENTAL 1,399.68_ TOTAL: 1,399.68
ORANGE COUNTY TREASURER-TAX COLLECTOR PARKING VIOLATIONS 08/25 GENERAL FUND NON-DEPARTMENTAL 2,486.00 PARKING VIOLATIONS 09/25 GENERAL FUND NON-DEPARTMENTAL 2,211.00_ TOTAL: 4,697.00
PACIFIC ORGANIC POPS PINE STREATS GRANT REIMBUR GENERAL FUND ECONOMIC DEVELOPMENT 2,195.02_ TOTAL: 2,195.02
PORTAL LANGUAGES - LONG BEACH PRESCHOOL SPANISH 09/08-11 GENERAL FUND SPECIAL CLASSES 237.25_ TOTAL: 237.25
POWERTRIP RENTALS, LLC TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 2,093.32 CLA SUPPLIES GENERAL FUND SPECIAL EVENTS 3,197.25_
TOTAL: 5,290.57
PTS COMMUNICATIONS PAYPHONE SVCS 11/25 GENERAL FUND NON-DEPARTMENTAL 43.00_ TOTAL: 43.00
PUBLIC AGENCY RETIREMENT SERVICES AND PUBLIC AGENCY RETIREMENT S GENERAL FUND NON-DEPARTMENTAL 50,000.00_ TOTAL: 50,000.00
QUINN POWER SYSTEMS PD CIRCUIT BOARD GENERATOR GENERAL FUND BUILDING MAINTENANCE 1,060.00_ TOTAL: 1,060.00
REPLICA GRAPHICS PD BACKDROP BANNER GENERAL FUND POLICE ADMINISTRATION 214.42_ TOTAL: 214.42
ROGERS, ANDERSON, MALODY & SCOTT, LLP AUDIT SVCS 06/25-10/25 GENERAL FUND FINANCE 14,500.00_ TOTAL: 14,500.00
ROTARY CLUB OF LOS ALAMITOS/CYPRESS/SE FUNDRAISER EVENT TICKETS 1 GENERAL FUND ADMINISTRATION 250.00_ TOTAL: 250.00
SC FUELS DIESEL FUEL 10/25 GARAGE FUND GARAGE 1,761.30_ TOTAL: 1,761.30
5
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
SDI PRESENCE LLC IT CLOUD LICENSE SVCS TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 1,850.25 SENTINELONE CTRL 08/25 TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 487.63 ADD'L IT SUPPORT SVCS TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 2,400.93 SENTINELONE CTRL 09/25 TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 483.60 IT CLOUD LICENSE SVCS TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 1,850.25 ADD'L IT SUPPORT SVCS TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 5,020.48 IT SUPPORT SVCS 07/25 TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 8,492.35 IT SUPPORT SVCS 08/25 TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 8,492.35 IT SUPPORT SVCS 09/25 TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 8,492.35_ TOTAL: 37,570.19
SHINING LIGHT SOCIAL MEDIA SOCIAL MEDIA SVCS 10/25 GENERAL FUND ECONOMIC DEVELOPMENT 1,600.00_ TOTAL: 1,600.00
SIR SPEEDY PRINTING, SIGNS, MARKETING LOS AL LOOP 11/25 GENERAL FUND ADMINISTRATION 3,851.96 PRESCHOOL BANNER GENERAL FUND SPECIAL CLASSES 186.04
CELEBRATE LOS AL SIGNAGE GENERAL FUND SPECIAL EVENTS 314.64_ TOTAL: 4,352.64
SOCAL AUTO & TRUCK PARTS INC. POWER WASHER BOOSTER PUMP GARAGE FUND GARAGE 305.88 PW-8 POWER WASHER SUPPLIES GARAGE FUND GARAGE 15.67
PW TRAILER HOOK MOUNT GARAGE FUND GARAGE 406.24_
TOTAL: 727.79
SOCAL SEWER & WATER STORM DRAIN MAINT 10/25 GENERAL FUND PARK MAINTENANCE 1,709.31_ TOTAL: 1,709.31
SOUND CONNECTION WW STAGE RENTAL GENERAL FUND NON-DEPARTMENTAL 7,600.00_ TOTAL: 7,600.00
SOUTHERN CALIFORNIA EDISON ELECTRICITY BILL 10/2025 GENERAL FUND STREET MAINTENANCE 265.25 SOCAL EDISON 09/25-10/25 GENERAL FUND STREET MAINTENANCE 19,316.73 ELECTRICITY BILL 10/2025 GENERAL FUND PARK MAINTENANCE 18.17 SOCAL EDISON 09/25-10/25 GENERAL FUND PARK MAINTENANCE 300.84 SOCAL EDISON 09/25-10/25 GENERAL FUND PARK MAINTENANCE 508.77 SOCAL EDISON 09/25-10/25 GENERAL FUND BUILDING MAINTENANCE 73.90- SOCAL EDISON 09/25-10/25 C GENERAL FUND BUILDING MAINTENANCE 7,434.55 SOCAL EDISON 09/25-10/25 P GENERAL FUND BUILDING MAINTENANCE 8,866.11_ TOTAL: 36,636.52
SOUTHERN CALIFORNIA GAS SO CAL GAS 10/2025 GENERAL FUND BUILDING MAINTENANCE 212.31_ TOTAL: 212.31
ST. NICK'S WW TREE & SKYLINE SIGN GENERAL FUND NON-DEPARTMENTAL 18,800.00_ TOTAL: 18,800.00
ST. OF CALIFORNIA DEPT. OF JUSTICE LIVE SCANS (3) 09/25 GENERAL FUND NON-DEPARTMENTAL 198.00_ TOTAL: 198.00
STANDARD INSURANCE COMPANY 11/25 BASIC RETIREE SELF A GENERAL FUND NON-DEPARTMENTAL 21.14 11/25 BASIC & AD&D SELF AD GENERAL FUND CITY COUNCIL 55.37 11/25 BASIC & AD&D SELF AD GENERAL FUND ADMINISTRATION 154.00 11/25 LTD SELF ADMIN GENERAL FUND ADMINISTRATION 112.84 11/25 BASIC & AD&D SELF AD GENERAL FUND FINANCE 100.75
11/25 LTD SELF ADMIN GENERAL FUND FINANCE 80.60
11/25 EAP PREM SELF ADMIN GENERAL FUND FINANCE 59.25
6
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
11/25 BASIC & AD&D SELF AD GENERAL FUND POLICE ADMINISTRATION 168.27 11/25 LTD SELF ADMIN GENERAL FUND POLICE ADMINISTRATION 80.60 11/25 BASIC & AD&D SELF AD GENERAL FUND PATROL 255.60
11/25 BASIC & AD&D SELF AD GENERAL FUND INVESTIGATION 31.95 11/25 BASIC & AD&D SELF AD GENERAL FUND RECORDS 31.95
11/25 LTD SELF ADMIN GENERAL FUND RECORDS 48.36
11/25 BASIC & AD&D SELF AD GENERAL FUND YOUTH SERVICES 15.98 11/25 BASIC & AD&D SELF AD GENERAL FUND COMMUNITY DEVEL ADMIN 136.75 11/25 LTD SELF ADMIN GENERAL FUND COMMUNITY DEVEL ADMIN 128.96 11/25 BASIC & AD&D SELF AD GENERAL FUND PLANNING 10.65
11/25 LTD SELF ADMIN GENERAL FUND PLANNING 16.12
11/25 BASIC & AD&D SELF AD GENERAL FUND NEIGHBORHOOD PRESERVAT 21.30 11/25 LTD SELF ADMIN GENERAL FUND NEIGHBORHOOD PRESERVAT 32.24 11/25 BASIC & AD&D SELF AD GENERAL FUND STREET MAINTENANCE 106.50 11/25 LTD SELF ADMIN GENERAL FUND STREET MAINTENANCE 161.20 11/25 BASIC & AD&D SELF AD GENERAL FUND BUILDING MAINTENANCE 10.65 11/25 LTD SELF ADMIN GENERAL FUND BUILDING MAINTENANCE 16.12 11/25 BASIC & AD&D SELF AD GENERAL FUND RECREATION ADMINISTRAT 196.17 11/25 LTD SELF ADMIN GENERAL FUND RECREATION ADMINISTRAT 193.44_ TOTAL: 2,246.76
TABOON EXPRESS PINE STREATS GRANT REIMBUR GENERAL FUND ECONOMIC DEVELOPMENT 5,000.00_ TOTAL: 5,000.00
TOWNSEND PUBLIC AFFAIRS, INC. CONSULTING SVCS 11/25 GENERAL FUND ADMINISTRATION 4,000.00 GRANT WRITING SVCS 11/25 GENERAL FUND ADMINISTRATION 2,000.00_ TOTAL: 6,000.00
TRACY MILLER CONSULTING, INC. CONSULTING SVCS 11/25 GENERAL FUND ADMINISTRATION 5,500.00_ TOTAL: 5,500.00
U.S. BANK WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 376.40 WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 282.23 TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 48.06
TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 83.02
TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 75.69
TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 256.21
REFUND: WOMEN'S CONF SUPPL GENERAL FUND NON-DEPARTMENTAL 19.83- WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 16.33 TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 204.87
WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 15.04 TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 58.97
TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 24.59
TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 79.74
TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 118.19
WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 128.19 WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 31.84 WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 32.96 WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 298.55 DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 11.03
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 76.79
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 12.56
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 75.66
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 185.73
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 11.97
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 2.99
7
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT
_
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 56.13
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 79.93
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 54.97
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 282.25
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 9.28
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 22.94
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 39.38
DINE & DOUGH PRGM GENERAL FUND NON-DEPARTMENTAL 180.00
WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 157.08 WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 19.54 WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 62.23 WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 322.63 WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 446.31 WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 23.98 ADAPTIVE REC SUPPLIES GENERAL FUND NON-DEPARTMENTAL 110.07 TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 536.51
ADAPTIVE REC SUPPLIES GENERAL FUND NON-DEPARTMENTAL 150.95 ADAPTIVE REC SUPPLIES GENERAL FUND NON-DEPARTMENTAL 10.76 ADAPTIVE REC SUPPLIES GENERAL FUND NON-DEPARTMENTAL 50.56 PALS OF LOS AL SUPPLIES GENERAL FUND NON-DEPARTMENTAL 36.60 PALS OF LOS AL SUPPLIES GENERAL FUND NON-DEPARTMENTAL 125.26 PALS OF LOS AL SUPPLIES GENERAL FUND NON-DEPARTMENTAL 18.06 TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 147.34
REFUND: TOT SUPPLIES GENERAL FUND NON-DEPARTMENTAL 20.98 TOT 1ST PLACE AWARD GENERAL FUND NON-DEPARTMENTAL 40.00 TOT 2ND PLACE AWARD GENERAL FUND NON-DEPARTMENTAL 30.00 TOT 3RD PLACE AWARD GENERAL FUND NON-DEPARTMENTAL 20.00 TABLE COVERS GENERAL FUND NON-DEPARTMENTAL 23.76
WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 187.79 WOMEN'S CONF SUPPLIES GENERAL FUND NON-DEPARTMENTAL 205.45 REFUND:QUINTANAR ADVOCACY GENERAL FUND CITY COUNCIL 2,100.00- HASSELBRINK LOCC WEBINAR GENERAL FUND CITY COUNCIL 25.00 HASSELBRINK CAL CITIES CON GENERAL FUND CITY COUNCIL 50.00 REF: HASSELBRINK ADVOCACY GENERAL FUND CITY COUNCIL 2,100.00- C WILSON LOCC CONF GENERAL FUND ADMINISTRATION 16.00
C WILSON LOCC CONF GENERAL FUND ADMINISTRATION 15.75
OCREGISTER.COM SUB GENERAL FUND ADMINISTRATION 48.00
C WILSON CALPERS FORUM 10/ GENERAL FUND ADMINISTRATION 1,284.02 SHRED DAY 10/13/25 GENERAL FUND ADMINISTRATION 116.37
OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 15.55
SHRED DAY 10/13/25 GENERAL FUND ADMINISTRATION 24.29
COUNCIL MTG DINNER 11/03/2 GENERAL FUND ADMINISTRATION 161.60 OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 134.35
OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 10.91
COUNCIL OCREGISTER.COM 10/ GENERAL FUND ADMINISTRATION 26.00 QUINTANAR LOCC CONF GENERAL FUND ADMINISTRATION 15.00
REFUND: OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 32.76- CMCA EDUCATION WORKSHOP GENERAL FUND ADMINISTRATION 125.00 PUBLIC NOTICE ORD2025-07 GENERAL FUND ADMINISTRATION 160.00 QUINTANAR LOCC WEBINAR GENERAL FUND ADMINISTRATION 25.00 LIGHTNER MMASC CONF GENERAL FUND ADMINISTRATION 15.00
LIGHTNER MMASC CONF GENERAL FUND ADMINISTRATION 15.00
LIGHTNER MMASC CONF GENERAL FUND ADMINISTRATION 725.00
HEALTH FAIR 2025 SUPPLIES GENERAL FUND ADMINISTRATION 48.16 HEALTH FAIR 2025 GIFTCARD GENERAL FUND ADMINISTRATION 20.00 OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 18.55
8
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
HEALTH FAIR 2025 SUPPLIES GENERAL FUND ADMINISTRATION 678.17 OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 42.54
EOQ FALL 25 PHOTO GENERAL FUND ADMINISTRATION 3.27
EOQ FALL 25 PLAQUE GENERAL FUND ADMINISTRATION 38.81
OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 22.08
BLDG & FIRE CODE NOTICE GENERAL FUND ADMINISTRATION 282.50 NUTS & BOLTS WORKSHOP GENERAL FUND ADMINISTRATION 350.00 OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 104.39
COUNCIL MTG DINNER 10/06/2 GENERAL FUND ADMINISTRATION 168.25 COUNCIL MTG DRINKS 10/06/2 GENERAL FUND ADMINISTRATION 22.04 SHRED DAY 10/13/25 GENERAL FUND ADMINISTRATION 78.99
SHRED DAY 10/13/25 GENERAL FUND ADMINISTRATION 449.50
OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 180.56
SHRED DAY 10/13/25 GENERAL FUND ADMINISTRATION 1,100.00 OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 95.38
REFUND: OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 21.77- REFUND: OFFICE SUPPLIES GENERAL FUND ADMINISTRATION 7.94- BISCOCHO CSMFO CONF GENERAL FUND FINANCE 175.00
CHATGPT PLUS SUB GENERAL FUND FINANCE 20.00
OFFICE SUPPLIES GENERAL FUND FINANCE 138.70
BISCOCHO CSMFO CONF GENERAL FUND FINANCE 625.00
OFFICE SUPPLIES GENERAL FUND FINANCE 51.98
OFFICE SUPPLIES GENERAL FUND FINANCE 23.22
OFFICE SUPPLIES GENERAL FUND FINANCE 121.40
OFFICE SUPPLIES GENERAL FUND FINANCE 15.28
PUBLIC RECORDS REQUEST GENERAL FUND FINANCE 25.00
AUTHORIZE.NET SUB GENERAL FUND FINANCE 10.00
APPLE ICLOUD SUB GENERAL FUND FINANCE 0.99
WSJ MONTHLY SUB GENERAL FUND FINANCE 8.25
OFFICE SUPPLIES GENERAL FUND FINANCE 36.26
OFFICE SUPPLIES GENERAL FUND FINANCE 38.23
OFFICE SUPPLIES GENERAL FUND FINANCE 25.98
OFFICE SUPPLIES GENERAL FUND FINANCE 182.43
FIN IN-SERVICE TRAINING GENERAL FUND FINANCE 211.08
OFFICE SUPPLIES GENERAL FUND FINANCE 68.98
OFFICE SUPPLIES GENERAL FUND POLICE ADMINISTRATION 8.67 CAPCUT ANNUAL SUB GENERAL FUND POLICE ADMINISTRATION 179.99 GALLAUGHER TRAINING GENERAL FUND POLICE ADMINISTRATION 15.00 GALLAUGHER TRAINING GENERAL FUND POLICE ADMINISTRATION 15.00 EMERGENCY MGMT MEETING GENERAL FUND POLICE ADMINISTRATION 257.42 AMAZON PRIME SUB GENERAL FUND POLICE ADMINISTRATION 16.38 EMPLOYEE RECOGNITION SUPPL GENERAL FUND POLICE ADMINISTRATION 480.48 ONSTAR SUB GENERAL FUND POLICE ADMINISTRATION 15.00
KITCHEN SUPPLIES GENERAL FUND POLICE ADMINISTRATION 20.75 ONSTAR SUB GENERAL FUND POLICE ADMINISTRATION 11.99
KITCHEN SUPPLIES GENERAL FUND POLICE ADMINISTRATION 947.46 KITCHEN SUPPLIES GENERAL FUND POLICE ADMINISTRATION 8.22 PELOTON SUB GENERAL FUND POLICE ADMINISTRATION 44.00
V WILSON TRAINING PARKING GENERAL FUND POLICE ADMINISTRATION 15.49 V WILSON TRAINING MEAL GENERAL FUND POLICE ADMINISTRATION 9.35 V WILSON TRAINING MEAL GENERAL FUND POLICE ADMINISTRATION 22.12 V WILSON TRAINING MEAL GENERAL FUND POLICE ADMINISTRATION 20.66 V WILSON TRAINING MEAL GENERAL FUND POLICE ADMINISTRATION 30.01 DEPARTMENT PICTURES GENERAL FUND POLICE ADMINISTRATION 6.53 POWER BI GENERAL FUND POLICE ADMINISTRATION 78.30
SAIZ CATO CONF GENERAL FUND PATROL 719.94
9
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
GOSSET/NAVARRO TRAINING GENERAL FUND PATROL 250.00
SAIZ SWAT TRAINING CONF GENERAL FUND PATROL 643.75
OFFICE SUPPLIES GENERAL FUND PATROL 41.50
OFFICE SUPPLIES GENERAL FUND PATROL 28.01
OFFICE SUPPLIES GENERAL FUND PATROL 51.34
PEREZ/FLYNN BUSINESS CARDS GENERAL FUND PATROL 184.63
SMITH LEADERSHIP TRAINING GENERAL FUND INVESTIGATION 565.00 PD INVESTIGATION DOCS GENERAL FUND INVESTIGATION 24.00
OFFICE SUPPLIES GENERAL FUND INVESTIGATION 269.84
SAIZ RECORDS TRAINING GENERAL FUND RECORDS 688.00
OFFICE SUPPLIES GENERAL FUND RECORDS 39.63
SAIZ TRAINING MEAL GENERAL FUND COMMUNITY OUTREACH 25.15 SAIZ TRAINING PARKING GENERAL FUND COMMUNITY OUTREACH 15.60 SAIZ TRAINING MEAL GENERAL FUND COMMUNITY OUTREACH 21.71 TOT SUPPLIES GENERAL FUND COMMUNITY OUTREACH 104.95
SWEAR IN CEREMONY SUPPLIES GENERAL FUND COMMUNITY OUTREACH 18.67 SWEAR IN CEREMONY SUPPLIES GENERAL FUND COMMUNITY OUTREACH 41.54 SWEAR IN CEREMONY SUPPLIES GENERAL FUND COMMUNITY OUTREACH 9.93 TOT SUPPLIES GENERAL FUND COMMUNITY OUTREACH 83.96
OFFICE SUPPLIES GENERAL FUND TRAFFIC 44.22
K9 FOOD GENERAL FUND K-9 UNIT 106.01
K9 FOOD GENERAL FUND K-9 UNIT 106.53
APPLE ICLOUD SUB GENERAL FUND COMMUNITY DEVEL ADMIN 2.99 MAYOR'S COIN GENERAL FUND COMMUNITY DEVEL ADMIN 1,398.40 OFFICE SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 38.98 OFFICE SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 26.70 YOUTUBE SUB GENERAL FUND COMMUNITY DEVEL ADMIN 82.99
OFFICE SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 67.69 R NODA CAL CITIES CONF GENERAL FUND COMMUNITY DEVEL ADMIN 24.15 OFFICE SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 38.16 RAMIREZ LOCC CONF GENERAL FUND COMMUNITY DEVEL ADMIN 15.00 RAMIREZ LOCC CONF GENERAL FUND COMMUNITY DEVEL ADMIN 15.00 REIS LOCC CONF GENERAL FUND COMMUNITY DEVEL ADMIN 15.00 REIS LOCC CONF GENERAL FUND COMMUNITY DEVEL ADMIN 15.00 AMAZON PRIME SUB GENERAL FUND COMMUNITY DEVEL ADMIN 16.38 REYES/CARMODY WEBCAM GENERAL FUND COMMUNITY DEVEL ADMIN 152.93 MILITARY VOLUNTEER SUPPLIE GENERAL FUND COMMUNITY DEVEL ADMIN 13.09 LANDSCAPE MAINT SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 272.03 OFFICE SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 5.45 OFFICE SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 14.18 OFFICE SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 73.58 OFFICE SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 89.47 OFFICE SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 234.89 TOT SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 82.22
TOT SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 86.30
TOT SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 146.96
OFFICE SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 68.63 KITCHEN SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 896.84 OFFICE SUPPLIES GENERAL FUND COMMUNITY DEVEL ADMIN 40.92 OFFICE SUPPLIES GENERAL FUND NEIGHBORHOOD PRESERVAT 19.60 LANDSCAPE MAINT SUPPLIES GENERAL FUND STREET MAINTENANCE 118.26 DE LA TORRE MSA CONF GENERAL FUND STREET MAINTENANCE 36.00 REYES MSA CONF GENERAL FUND STREET MAINTENANCE 25.00
PAINT SUPPLIES GENERAL FUND PARK MAINTENANCE 969.90
PAINT SUPPLIES GENERAL FUND PARK MAINTENANCE 9.80
LANDSCAPE MAINT SUPPLIES GENERAL FUND PARK MAINTENANCE 81.93 10
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
LANDSCAPE MAINT SUPPLIES GENERAL FUND PARK MAINTENANCE 61.08 LANDSCAPE MAINT SUPPLIES GENERAL FUND PARK MAINTENANCE 81.93 PARK SUPPLIES GENERAL FUND PARK MAINTENANCE 509.82
LANDSCAPE MAINT SUPPLIES GENERAL FUND PARK MAINTENANCE 109.24 LANDSCAPE MAINT SUPPLIES GENERAL FUND PARK MAINTENANCE 86.02 STREET MAINT SUPPLIES GENERAL FUND BUILDING MAINTENANCE 616.33 POND REMOVAL MATERIALS GENERAL FUND BUILDING MAINTENANCE 140.99 BUILDING MAINT SUPPLIES GENERAL FUND BUILDING MAINTENANCE 32.23 JACKHAMMER RENTAL GENERAL FUND BUILDING MAINTENANCE 500.00 PD LIGHT REPLACEMENT GENERAL FUND BUILDING MAINTENANCE 27.59 JACKHAMMER RENTAL GENERAL FUND BUILDING MAINTENANCE 167.66 CC DRINKING FOUNTAIN FILTE GENERAL FUND BUILDING MAINTENANCE 96.13 DRINKING WATER 09/25 GENERAL FUND BUILDING MAINTENANCE 268.99 DRINKING WATER 10/25 GENERAL FUND BUILDING MAINTENANCE 302.59 TRAILER EQUIPMENT GENERAL FUND ECONOMIC DEVELOPMENT 246.96 TRAILER EQUIPMENT GENERAL FUND ECONOMIC DEVELOPMENT 131.09 ED SUPPLIES GENERAL FUND ECONOMIC DEVELOPMENT 85.22
CHAMBER LUNCHEON 11/25 GENERAL FUND ECONOMIC DEVELOPMENT 60.00 NITES ON PINE SUPPLIES GENERAL FUND ECONOMIC DEVELOPMENT 95.00 NITES ON PINE SUPPLIES GENERAL FUND ECONOMIC DEVELOPMENT 155.25 NITES ON PINE SUPPLIES GENERAL FUND ECONOMIC DEVELOPMENT 6.54 NITES ON PINE SUPPLIES GENERAL FUND ECONOMIC DEVELOPMENT 74.96 NITES ON PINE SUPPLIES GENERAL FUND ECONOMIC DEVELOPMENT 99.42 EVENT SUPPLIES GENERAL FUND ECONOMIC DEVELOPMENT 12.01
CRICUT SUB GENERAL FUND RECREATION ADMINISTRAT 95.88
SHIMADA CAL CITIES CONF GENERAL FUND RECREATION ADMINISTRAT 50.00 SHIMADA CAL CITIES CONF GENERAL FUND RECREATION ADMINISTRAT 50.00 SISOEV CAL CITIES CONF GENERAL FUND RECREATION ADMINISTRAT 15.75 SISOEV CAL CITIES CONF GENERAL FUND RECREATION ADMINISTRAT 15.00 DS CONCERT SHARE REGISTRAT GENERAL FUND RECREATION ADMINISTRAT 45.00 DS CONCERT SHARE REGISTRAT GENERAL FUND RECREATION ADMINISTRAT 1.13 LIFEGUARD TRAINING GENERAL FUND RECREATION ADMINISTRAT 400.00 CHAMBER LUNCHEON GENERAL FUND RECREATION ADMINISTRAT 30.00 CPRS ADMIN BRUNCH GENERAL FUND RECREATION ADMINISTRAT 55.00 OFFICE SUPPLIES GENERAL FUND RECREATION ADMINISTRAT 32.94 CHAMBER BREAKFAST 09/25 GENERAL FUND RECREATION ADMINISTRAT 60.00 CASA YOUTH SHELTER EVENT GENERAL FUND RECREATION ADMINISTRAT 51.50 OFFICE SUPPLIES GENERAL FUND RECREATION ADMINISTRAT 205.00 DIRECT TV EOC GENERAL FUND RECREATION ADMINISTRAT 100.99 SPOTIFY SUB GENERAL FUND RECREATION ADMINISTRAT 19.99
STAFF CPR CERTIFICATION GENERAL FUND RECREATION ADMINISTRAT 37.00 STAFF CPR CERTIFICATION GENERAL FUND RECREATION ADMINISTRAT 37.00 OFFICE SUPPLIES GENERAL FUND RECREATION ADMINISTRAT 105.98 OFFICE SUPPLIES GENERAL FUND RECREATION ADMINISTRAT 228.26 OFFICE SUPPLIES GENERAL FUND RECREATION ADMINISTRAT 45.43 STAFF CPR CERTIFICATION GENERAL FUND RECREATION ADMINISTRAT 37.00 SOCIAL MEDIA SUPPLIES GENERAL FUND RECREATION ADMINISTRAT 22.93 STAFF TRAINING 10/25 GENERAL FUND RECREATION ADMINISTRAT 135.00 STAFF TRAINING 10/25 GENERAL FUND RECREATION ADMINISTRAT 337.26 APPLE ICLOUD SUB GENERAL FUND RECREATION ADMINISTRAT 9.99 E NODA ACE CONF GENERAL FUND RECREATION ADMINISTRAT 15.00 E NODA ACE CONF GENERAL FUND RECREATION ADMINISTRAT 16.00 E NODA ACE CONF GENERAL FUND RECREATION ADMINISTRAT 16.00 REFUND: E NODA ADVOACY TRI GENERAL FUND RECREATION ADMINISTRAT 2,250.00- REFUND: SIMMONS ADVOCACY T GENERAL FUND RECREATION ADMINISTRAT 2,250.00- CHAMBER LUNCHEON 11/25 GENERAL FUND RECREATION ADMINISTRAT 30.00 11
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
CONSTANT CONTACT SUB GENERAL FUND RECREATION ADMINISTRAT 422.75 E NODA TRAINING GENERAL FUND RECREATION ADMINISTRAT 115.99 AQUATICS SUPPLIES GENERAL FUND AQUATICS 28.28
FACILITY RENTAL SUPPLIES GENERAL FUND COMMUNITY SERVICES 87.38 FACILITY RENTAL SUPPLIES GENERAL FUND COMMUNITY SERVICES 52.98 DAY CAMP SUPPLIES GENERAL FUND DAY CAMP 125.66
DAY CAMP SUPPLIES GENERAL FUND DAY CAMP 110.30
DAY CAMP SUPPLIES GENERAL FUND DAY CAMP 183.43
ADAPTIVE REC SUPPLIES GENERAL FUND DAY CAMP 62.65
TOT SUPPLIES GENERAL FUND PLAYGROUNDS 169.16
VOLLEYBALL SUPPLIES GENERAL FUND SPORTS 101.71
ADULT SOCCER SUPPLIES GENERAL FUND SPORTS 41.50
VOLLEYBALL SUPPLIES GENERAL FUND SPORTS 53.65
TRACK & FIELD SUPPLIES GENERAL FUND SPORTS 660.66
ADULT SOCCER JERSEYS GENERAL FUND SPORTS 243.60
VOLLEYBALL SUPPLIES GENERAL FUND SPORTS 36.82
VOLLEYBALL JERSEYS GENERAL FUND SPORTS 285.47
TABLE TENNIS AWARDS GENERAL FUND SPORTS 53.36
VOLLEYBALL SUPPLIES GENERAL FUND SPORTS 456.93
VOLLEYBALL SUPPLIES GENERAL FUND SPORTS 269.71
REPLACEMENT CARTS GENERAL FUND SPORTS 532.79
TABLE TENNIS SUPPLIES GENERAL FUND SPORTS 31.67
PRESCHOOL SUPPLIES GENERAL FUND SPECIAL CLASSES 31.30
PRESCHOOL SUPPLIES GENERAL FUND SPECIAL CLASSES 25.12
PRESCHOOL FIELD TRIP GENERAL FUND SPECIAL CLASSES 378.00 PRESCHOOL FIELD TRIP GENERAL FUND SPECIAL CLASSES 600.00 PRESCHOOL SUPPLIES GENERAL FUND SPECIAL CLASSES 176.88
PRESCHOOL SUPPLIES GENERAL FUND SPECIAL CLASSES 39.08
PRESCHOOL SUPPLIES GENERAL FUND SPECIAL CLASSES 71.87
PRESCHOOL SUPPLIES GENERAL FUND SPECIAL CLASSES 62.97
CC MAT SERVICE 09/17/25 GENERAL FUND SPECIAL CLASSES 111.79 CC MAT SERVICE 10/11/25 GENERAL FUND SPECIAL CLASSES 111.79 SENIOR WORKSHOP SUPPLIES GENERAL FUND SPECIAL CLASSES 34.38 SENIOR WORKSHOP SUPPLIES GENERAL FUND SPECIAL CLASSES 11.25 SENIOR WORKSHOP SUPPLIES GENERAL FUND SPECIAL CLASSES 107.59 WOMEN'S CONF SUPPLIES GENERAL FUND SPECIAL EVENTS 131.04 PICKLEBALL SUPPLIES GENERAL FUND SPECIAL EVENTS 153.71
HALLOWEEN DECOR CONTEST GENERAL FUND SPECIAL EVENTS 54.52 HALLOWEEN DECOR SUPPLIES GENERAL FUND SPECIAL EVENTS 83.09 ADAPTIVE REC SUPPLIES GENERAL FUND SPECIAL EVENTS 625.85 WAREHOUSE SUPPLIES GENERAL FUND SPECIAL EVENTS 103.89
WAREHOUSE SUPPLIES GENERAL FUND SPECIAL EVENTS 344.20
WAREHOUSE SUPPLIES GENERAL FUND SPECIAL EVENTS 128.39
WAREHOUSE SUPPLIES GENERAL FUND SPECIAL EVENTS 489.09
WAREHOUSE SUPPLIES GENERAL FUND SPECIAL EVENTS 315.23
WOMEN'S CONF SUPPLIES GENERAL FUND SPECIAL EVENTS 1,657.53 CITY SIGNAGE MAINT SUPPLIE GENERAL FUND CAPITAL PROJECTS 533.66 SOROPTIMIST PARK PROJECT GENERAL FUND CAPITAL PROJECTS 210.87 EV CHARGING AIR QUALITY FUND GARAGE 49.57
EV CHARGING AIR QUALITY FUND GARAGE 21.57
EV CHARGING AIR QUALITY FUND GARAGE 53.61
EV CHARGING AIR QUALITY FUND GARAGE 36.64
EV CHARGING AIR QUALITY FUND GARAGE 25.91
EV CHARGING AIR QUALITY FUND GARAGE 46.43
PW-9 VEHICLE SVCS 10/07/25 GARAGE FUND GARAGE 314.07
PW DUPLICATE VEHICLE TITLE GARAGE FUND GARAGE 27.00
12
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
PW DUPLICATE VEHICLE TITLE GARAGE FUND GARAGE 27.00
PW DUPLICATE VEHICLE TITLE GARAGE FUND GARAGE 27.00
PW DUPLICATE VEHICLE TITLE GARAGE FUND GARAGE 0.54
PW DUPLICATE VEHICLE TITLE GARAGE FUND GARAGE 0.54
PW DUPLICATE VEHICLE TITLE GARAGE FUND GARAGE 0.54
GARAGE FUND GARAGE 420.91
TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 712.42
TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 20.00
TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 22.18
TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 409.99
TECHNOLOGY REPLACE ADMINISTRATIVE SERVICE 1,772.58_
TOTAL: 38,142.13
V & V MANUFACTURING, INC. GENERAL FUND PATROL 271.85_
TOTAL: 271.85
VERIZON GENERAL FUND COMMUNITY DEVEL ADMIN 489.88_
TOTAL: 489.88
VESTIS GROUP INC GENERAL FUND STREET MAINTENANCE 127.69 GENERAL FUND STREET MAINTENANCE 115.48
GENERAL FUND STREET MAINTENANCE 115.48_
TOTAL: 358.65
VOYAGER FLEET SYSTEMS, INC. GARAGE FUND GARAGE 12,074.90 GARAGE FUND GARAGE 443.02-
TOTAL: 11,631.88
WAXIE SANITARY SUPPLY GENERAL FUND BUILDING MAINTENANCE 1,018.38_ TOTAL: 1,018.38
WEST COAST ARBORISTS, INC. MEASURE M CAPITAL PROJECTS 36,784.00
KEYFOB REPLACEMENT
LF CLOUD ANNUAL SUB
CHATGPT PLUS SUB
.ORG DOMAIN REGISTRATION
CANVA SUB
IT SUPPLIES
SERGEANT BADGES
VEHICLE GPS SVCS 11/25
UNIFORMS RENTAL 10/20/25
UNIFORMS RENTAL 10/27/25
UNIFORMS RENTAL 11/03/25
FLEET FUEL 10/25
TAX ADJUSTMENT 10/25
RECYCLING STATION 10/25
DIST 4 GRID TREE TRIM 10/25
DIST 2 GRID TREE TRIM 10/25 MEASURE M CAPITAL PROJECTS 7,392.00_ TOTAL: 44,176.00
WESTERN STATE BUILDERS, INC CIP 24/25-08 RETENTION #2 GENERAL FUND NON-DEPARTMENTAL 6,847.53- CIP 24-25-08 RETENTION #1 GENERAL FUND NON-DEPARTMENTAL 2,222.50- CIP 24/25-08 PAY APP #2 GENERAL FUND CAPITAL PROJECTS 136,950.65 CIP 24/25-08 PAY APP #1 GENERAL FUND CAPITAL PROJECTS 44,450.00_ TOTAL: 172,330.62
WEX HEALTH, INC. FSA MONTHLY 10/25 GENERAL FUND NON-DEPARTMENTAL 58.50_ TOTAL: 58.50
WILLDAN FINANCIAL SERVICES COST RECOVERY STUDY 07/25 GENERAL FUND ADMINISTRATION 1,481.00_ TOTAL: 1,481.00
13
VENDOR NAME
WARRANTS 11/2025
DESCRIPTION FUND DEPARTMENT AMOUNT_
=============== FUND TOTALS ================
10 GENERAL FUND 1,086,469.60
23 AIR QUALITY FUND 233.73
26 MEASURE M 44,176.00
50 GARAGE FUND 23,570.67
53 TECHNOLOGY REPLACEMENT 45,179.81
54 SELF INSURANCE TRUST 7,338.52
--------------------------------------------
GRAND TOTAL: 1,206,968.33
--------------------------------------------
14
Retirees Medical Reimbursement
Date: November 1, 2025 Number of Transactions: 12 Total Batch: $8,681.54 15
Payroll Overview
Payroll Bi-Weekly Regular 11/07/2025
Pay Date 11/07/2025
# Employees 143
# Paid Employees 143
# Pay Statements 154
# Regular 143
# Payroll Adjustment 11
# Pay Periods 1
EE's Paid More Than Once 11
Base Compensation Changes 1
Terminations 1
Rehires 1
Employee Payments
# EE's $ Amount
Checks Paid By POD7 | UK 2 2 463.50 D
Direct Deposits Debited 149 139 291,774.16 D
Total 292,237.66
(D) POD7 | UKG Payroll Services Admin Debit -292,237.66 Your Remaining Bank Account Liability 0.00
Vouchers Printed 2
Vouchers Suppressed 0
Taxes
EIN EE's $ Amount
FIT/EE 95-2133135 102 44,179.10 D
Additional Medi/EE 95-2133135 2 181.48 D
MEDI/ER 95-2133135 143 5,868.17 D
MEDI/EE 95-2133135 143 5,868.17 D
SIT:CA/EE 932-0185-3 89 15,977.03 D
Total 72,073.95
(D) POD7 | UKG Payroll Services Admin Debit -72,073.95
Your Remaining Tax Liability 0.00
Vendor Liabilities
EE's $ Amount
Colorado Family Support 1 230.76D
Total 230.76
(D) POD7 | UKG Payroll Services Admin Debit -230.76
Your Remaining Vendor Liability 0.00
Total
Total 364,542.37
POD7 | UKG Payroll Services Admin Debit -364,542.37
Total of Your Responsibility 0.00
Recap
POD7 | UKG Payroll S Date Bank Account # $ Amount
Vendor Payment SPA 11/06/2025 xxxxxxxx8587 230.76
Tax Payment 11/06/2025 xxxxxxxx8587 72,073.95
Empl. Checks SPA 11/06/2025 xxxxxxxx8587 463.50
Empl. Dir. Dep. SPA 11/06/2025 xxxxxxxx8587 291,774.16
Total Debits 364,542.37
Cash Requirements: xxxxxxxx8587 $ Amount
Vendor Payment SPA 230.76
Tax Payment 72,073.95
Empl. Checks SPA 463.50
Empl. Dir. Dep. SPA 291,774.16
Total 364,542.37
General Ledger Summary
Debit/Exp. Credit/Liab.
Earning 457,927.32 44,629.06
ER Deduction 83,187.47
ER Tax (Offset) 5,868.17
Check 463.50
ER Tax 5,868.17
Deduction 54,854.82
Tax 66,205.78
ER Deduction (Offset) 83,187.47
Direct Deposit 291,774.16
546,982.96 546,982.96
Comparison To Last Pay Period - Gross Wages
Payroll Recap & Funding
Bi-Weekly Regular 11/07/2025
16
Source Deduction Vendor Total Amount Total Amount (ER) Total Fund Employee AFLAC PostTax Aflac $ 65.48 $ - $ 65.48
Employee AFLAC PreTax Aflac $ 81.57 $ - $ 81.57
Employee CalPers Deferred Comp Calpers Def Comp $ 2,809.57 $ - $ 2,809.57 Employee CalPers Deferred Comp Loan Calpers Def Comp $ 158.30 $ - $ 158.30 Employee CalPers Deferred Comp Roth Calpers Def Comp $ 593.28 $ - $ 593.28 Employee / Employer CalPers MISC EE 8% Calpers Retirement $ 5,463.29 $ 10,988.07 $ 16,451.36 Employee CalPers Retirement Calpers Retirement $ 481.97 $ - $ 481.97 Employee / Employer CalPers Retirement MISC EE&ER Calpers Retirement $ 9,187.36 $ 9,436.31 $ 18,623.67 Employee CalPers Safety EE Calpers Retirement $ 1,492.17 $ - $ 1,492.17 Employee CalPers Safety EE B4 Calpers Retirement $ 2,624.29 $ - $ 2,624.29 Employee / Employer CalPers Safety EE&ER Calpers Retirement $ 12,491.12 $ 12,693.65 $ 25,184.77 Employer CalPers Safety ER Calpers Retirement $ - $ 12,523.19 $ 12,523.19 Employee CalPers Survivors Benefit Calpers Retirement $ 67.89 $ - $ 67.89 Employee Child Support 1 Deducted $ 230.76 $ - $ 230.76 Employer Dental Pre-Tax Delta Dental $ - $ 1,634.97 $ 1,634.97 Employee Employee Computer Loan Computer Loan/CASH $ 48.08 $ - $ 48.08 Employee Employee Voluntary Life Life $ 300.43 $ - $ 300.43 Employee FSA Dependent Care FSA $ 192.31 $ - $ 192.31
Employee FSA Medical Expense FSA $ 1,236.14 $ - $ 1,236.14 Employee ICMA Deferred Comp EE ICMA $ 2,192.60 $ - $ 2,192.60 Employer ICMA Deferred Comp ER ICMA $ - $ 958.00 $ 958.00 Employee ICMA Loan Repay ICMA $ 1,216.42 $ - $ 1,216.42 Employee ICMA Roth ICMA $ 103.29 $ - $ 103.29
Employee Long Term Disability LT Disability $ 99.54 $ - $ 99.54 Employee / Employer Medical Pre-Tax Medical $ 7,185.71 $ 32,875.86 $ 40,061.57 Employee Nationwide Retirement FT Nationwide $ 2,987.58 $ - $ 2,987.58 Employee / Employer Nationwide Retirement PT Nationwide $ 1,706.90 $ 1,708.80 $ 3,415.70 Employee Police Officer Dues Dues $ 1,442.77 $ - $ 1,442.77 Employee Teamsters Local 911 Dues $ 396.00 $ - $ 396.00 Employer Vision Pre-Tax Vision $ - $ 368.62 $ 368.62
$54,854.82 $83,187.47 $138,042.29
BENEFITS & WITHHOLDINGS
City of Los Alamitos
Pay Period 10/19-11/01/2025 Check Date:11/07/2025
17
Payroll Overview
Payroll Bi-Weekly Regular 11/21/2025
Pay Date 11/21/2025
# Employees 135
# Paid Employees 135
# Regular 134
# Manual 1
# Pay Periods 1
Base Compensation Changes 1
New Hires 6
Employee Payments
# EE's $ Amount
Checks 1 1 401.84
Checks Paid By POD7 | UK 1 1 70.39 D
Direct Deposits Debited 141 132 267,959.14 D
Total 268,431.37
(D) POD7 | UKG Payroll Services Admin Debit -268,029.53 Your Remaining Bank Account Liability 401.84
Vouchers Printed 1
Vouchers Suppressed 0
Taxes
EIN EE's $ Amount
FIT/EE 95-2133135 97 39,236.12 D
Additional Medi/EE 95-2133135 4 269.71 D
MEDI/ER 95-2133135 134 5,395.05 D
MEDI/EE 95-2133135 135 5,407.97 D
SIT:CA/EE 932-0185-3 84 14,784.76 D
Total 65,093.61
(D) POD7 | UKG Payroll Services Admin Debit -65,093.61
Your Remaining Tax Liability 0.00
Vendor Liabilities
EE's $ Amount
Colorado Family Support 1 230.76D
Total 230.76
(D) POD7 | UKG Payroll Services Admin Debit -230.76
Your Remaining Vendor Liability 0.00
Total
Total 333,755.74
POD7 | UKG Payroll Services Admin Debit -333,353.90
Total of Your Responsibility 401.84
Recap
POD7 | UKG Payroll S Date Bank Account # $ Amount
Vendor Payment SPA 11/20/2025 xxxxxxxx8587 230.76
Tax Payment 11/20/2025 xxxxxxxx8587 65,093.61
Empl. Checks SPA 11/20/2025 xxxxxxxx8587 70.39
Empl. Dir. Dep. SPA 11/20/2025 xxxxxxxx8587 267,959.14
Total Debits 333,353.90
--More--
Recap - Continued
Cash Requirements: xxxxxxxx8587 $ Amount
Vendor Payment SPA 230.76
Tax Payment 65,093.61
Empl. Checks 401.84
Empl. Checks SPA 70.39
Empl. Dir. Dep. SPA 267,959.14
Total 333,755.74
General Ledger Summary
Debit/Exp. Credit/Liab.
Earning 380,927.01
ER Deduction 81,227.16
ER Tax (Offset) 5,395.05
Check 472.23
ER Tax 5,395.05
Deduction 52,797.08
Tax 59,698.56
ER Deduction (Offset) 81,227.16
Direct Deposit 267,959.14
467,549.22 467,549.22
Comparison To Last Pay Period - Gross Wages
Rolling 12 Month Payroll Vie
Payroll Recap & Funding
Bi-Weekly Regular 11/21/2025
18
Source Deduction Vendor Total Amount Total Amount (ER) Total Fund Employee AFLAC PostTax Aflac $ 65.48 $ - $ 65.48
Employee AFLAC PreTax Aflac $ 81.57 $ - $ 81.57
Employee CalPers Deferred Comp Calpers Def Comp $ 2,683.15 $ - $ 2,683.15 Employee CalPers Deferred Comp Loan Calpers Def Comp $ 158.30 $ - $ 158.30 Employee CalPers Deferred Comp Roth Calpers Def Comp $ 593.28 $ - $ 593.28 Employee / Employer CalPers MISC EE 8% Calpers Retirement $ 5,463.29 $ 10,988.07 $ 16,451.36 Employee CalPers Retirement Calpers Retirement $ 481.97 $ - $ 481.97 Employee / Employer CalPers Retirement MISC EE&ER Calpers Retirement $ 9,175.73 $ 9,424.37 $ 18,600.10 Employee CalPers Safety EE Calpers Retirement $ 1,492.17 $ - $ 1,492.17 Employee CalPers Safety EE B4 Calpers Retirement $ 2,619.79 $ - $ 2,619.79 Employee / Employer CalPers Safety EE&ER Calpers Retirement $ 10,795.26 $ 10,983.66 $ 21,778.92 Employer CalPers Safety ER Calpers Retirement $ - $ 12,509.50 $ 12,509.50 Employee CalPers Survivors Benefit Calpers Retirement $ 67.89 $ - $ 67.89 Employee Child Support 1 Deducted $ 230.76 $ - $ 230.76 Employer Dental Pre-Tax Delta Dental $ - $ 1,634.97 $ 1,634.97 Employee Employee Computer Loan Computer Loan/CASH $ 48.08 $ - $ 48.08 Employee Employee Voluntary Life Life $ 300.43 $ - $ 300.43 Employee FSA Dependent Care FSA $ 192.31 $ - $ 192.31
Employee FSA Medical Expense FSA $ 1,236.14 $ - $ 1,236.14 Employee ICMA Deferred Comp EE ICMA $ 2,190.84 $ - $ 2,190.84 Employer ICMA Deferred Comp ER ICMA $ - $ 958.00 $ 958.00 Employee ICMA Loan Repay ICMA $ 1,216.42 $ - $ 1,216.42 Employee ICMA Roth ICMA $ 108.52 $ - $ 108.52
Employee Long Term Disability LT Disability $ 99.54 $ - $ 99.54 Employee / Employer Medical Pre-Tax Medical $ 7,185.71 $ 32,875.86 $ 40,061.57 Employee Nationwide Retirement FT Nationwide $ 2,987.58 $ - $ 2,987.58 Employee / Employer Nationwide Retirement PT Nationwide $ 1,484.10 $ 1,484.11 $ 2,968.21 Employee Police Officer Dues Dues $ 1,442.77 $ - $ 1,442.77 Employee Teamsters Local 911 Dues $ 396.00 $ - $ 396.00 Employer Vision Pre-Tax Vision $ - $ 368.62 $ 368.62
$52,797.08 $81,227.16 $134,024.24
BENEFITS & WITHHOLDINGS
City of Los Alamitos
Pay Period 11/02-11/15/2025 Check Date:11/21/2025
19
City of Los Alamitos
CITY COUNCIL AGENDA REPORT
MEETING DATE: December 15, 2025 ITEM NUMBER: 10A
To: Mayor Shelley Hasselbrink & Members of the City Council Presented By: Craig Koehler, Director of Finance
Subject: Annual Comprehensive Financial Report for June 30, 2025
SUMMARY
The fiscal year 2024-25 audit reports are presented for the Council's receipt and consideration.
RECOMMENDATION
Receive and file the fiscal year 2024-25 audit reports.
BACKGROUND
Each year an independent audit of the City is conducted in conformity with generally accepted auditing standards (GAAS). Those standards require that an independent Certified Public Accountant plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The auditor also expresses an opinion on the fairness of the presentation of the financial position and the results of operations of the government's basic financial statements in conformity with generally accepted accounting principles (GAAP).
DISCUSSION
The Government Finance Officers Association (GFOA) awarded the City a Certificate of Achievement for Excellence in Financial Reporting (ACFR) for its annual comprehensive financial report for the fiscal year ending June 30, 2024. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting. The award is valid for a period of one year only. Staff believes the current fiscal year 2024-25 ACFR continues to meet the award program’s requirements and will be submitted again to the GFOA. In connection with this year's audit, this is the first year under the new contract that Rogers, Anderson, Malody & Scott (RAMS) has audited the City's financial records. The report review included internal staff and additional reviews by the audit firm's partners.
The resulting audit report, Financial Statements - Annual Comprehensive Financial Report (ACFR), is attached, along with the accompanying letters: Auditor’s Management Comment Letter (GAGAS), Report on Internal Controls, Communication (SAAS 114), which includes the City Management's Representation Letter, and GANN Appropriations review.
Management Comment Letter (GAGAS)
2025-001 Excess Expenditures Beyond Appropriations
Management discussed this with the auditor and provided explanations for the variances.
Largely, these overages were due to additional authorized contractual expenditures that were not contemplated when the budget was originally prepared. In advance of this audit, an additional budgeting tool has already been implemented for FY 25-26, whereby a quarterly review of budget-to-actual expenditures is presented to the Council and departments to assist in tracking their respective departmental expenditures. Earlier detection of variances will be beneficial in monitoring department expenditures to avoid excess expenditures beyond appropriations and allow for more timely adjustments if additional appropriations are needed and warranted.
Report on Internal Controls (SAAS 114)
No findings.
GANN Appropriations Review
No findings.
FISCAL IMPACT
None.
Attachment: 1. Annual Comprehensive Financial Report - Fiscal Year Ended June 30, 2025
2. Report in Accordance with Government Auditing Standards (GAGAS)
3. Report on Internal Controls (SAAS 114)
4. GANN Appropriations Review
FINANCIAL
REPORT
ANNUAL COMPREHENSIVE
JUNE 30, 2025
FOR FISCAL
YEAR ENDED
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City of Los Alamitos
Los Alamitos, California
Annual Comprehensive Financial Report
For the Fiscal Year Ended June 30, 2025
Prepared by the
Finance Department of Los Alamitos
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City of Los Alamitos
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
TABLE OF CONTENTS
INTRODUCTORY SECTION (UNAUDITED):
Letter of Transmittal ................................................................................................................ i Organization Chart ................................................................................................................ vi Principal Officials of the City of Los Alamitos ........................................................................ vii Certificate of Achievement for Excellence in Financial Reporting – Government Finance Officers Association ..................................................................... viii FINANCIAL SECTION:
Independent Auditor’s Report on Financial Statements ......................................................... 1 Management's Discussion and Analysis ................................................................................ 5 Basic Financial Statements:
Government–Wide Financial Statements:
Statement of Net Position ......................................................................................... 13 Statement of Activities .............................................................................................. 15 Fund Financial Statements:
Governmental Funds Financial Statements:
Balance Sheet .................................................................................................... 17 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position ................................................................................ 18 Statement of Revenues, Expenditures, and Changes in Fund Balances ........... 19 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balance to the Government-wide Statement of Net Activities ............................................................................... 20 Proprietary Fund Financial Statements:
Statement of Net Position ................................................................................... 21 Statement of Revenues, Expenses, and Changes in Net Position ..................... 22 Statement of Cash Flows ................................................................................... 23 Notes to the Basic Financial Statements ........................................................................ 24 Required Supplementary Information:
Budgetary Comparison Schedule - General Fund ............................................................... 68 Notes to the Budgetary Comparison Schedule .................................................................... 69 Schedule of the City’s Proportionate Share of the Total Pension Liability and Related Ratios – Miscellaneous Plan ............................................................................. 71 Schedule of the City’s Proportionate Share of the Total Pension Liability and Related Ratios – Safety Plan ......................................................................................... 72 Schedule of City’s Contributions – Pension - Miscellaneous Plan ........................................ 73 Schedule of City’s Contributions – Pension – Safety Plan ................................................... 74 Schedule of Changes in the Net OPEB Liability and Related Ratios ................................... 75
City of Los Alamitos
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
TABLE OF CONTENTS, (Continued)
FINANCIAL SECTION, (CONTINUED):
Supplementary Information:
Nonmajor Governmental Funds:
Combining Balance Sheet .............................................................................................. 76 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances .... 80 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual:
Nonmajor Special Revenue Funds:
Community Development Block Grant ............................................................ 84 Measure M ...................................................................................................... 85 Los Alamitos Television ................................................................................... 86 Office of Traffic Safety ..................................................................................... 87 Asset Seizure .................................................................................................. 88 Public Safety Augmentation ............................................................................ 89 State Law Enforcement Agency ...................................................................... 90 Air Quality ........................................................................................................ 91 State Gas Tax ................................................................................................. 92 Nonmajor Capital Project Funds:
Park Development ........................................................................................... 93 Building Improvement ...................................................................................... 94 Residential Streets/Alleys ................................................................................ 95 Traffic Improvement ......................................................................................... 96 Nonmajor Debt Service Fund:
Debt Service .................................................................................................... 97 Internal Service Funds:
Combining Statement of Net Position ............................................................................ 98 Combining Statement of Revenues, Expenses, and Changes in Net Position .............. 99 Combining Statement of Cash Flows ........................................................................... 100
City of Los Alamitos
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
TABLE OF CONTENTS, (Continued)
STATISTICAL SECTION (Unaudited):
Net Position by Component Last Ten Fiscal Years ............................................................ 101 Changes in Net Position Last Ten Fiscal Years .................................................................. 102 Fund Balances of Governmental Funds Last Ten Fiscal Years .......................................... 104 Changes in Fund Balances of Governmental Funds Last Ten Fiscal Years ...................... 106 2023/24 Use Category Summary – Basic Property Value Table Last Ten Fiscal Years ..... 108 Assessed Value and Estimated Actual Value of Taxable Property Last Ten Fiscal Years .. 110 Direct and Overlapping Property Tax Rates Last Ten Fiscal Years .....................................111 Principal Property Taxpayers Current Year and Ten Years Ago ......................................... 113 Property Tax Levies and Collections Last Ten Fiscal Years ............................................... 114 Ratio of Outstanding Debt by Type Last Ten Fiscal Years ................................................. 115 Direct and Overlapping Governmental Activity Debt .......................................................... 116 Legal Debt Margin Information ........................................................................................... 117 Demographic and Economic Statistics ............................................................................... 118 Full–Time Equivalent City Government Employees by Function/Program Last Ten Fiscal Years ................................................................................................... 119 Operating Indicators by Function/Program Last Ten Fiscal Years ..................................... 120 Capital Asset Statistics by Function/Program Last Ten Fiscal Years ................................. 122 Top 10 Businesses for Fiscal Year 2024/25 ....................................................................... 123 Principal Employers Current and Ten Years Ago ................................................................ 124
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i
December 9, 2025
HONORABLE MAYOR, MEMBERS OF THE CITY COUNCIL, AND CITIZENS I am pleased to submit the City of Los Alamitos, California's (the City) Annual Comprehensive Financial Report (ACFR) for the fiscal year ending June 30, 2025.
This report comprises management's representations regarding the City's finances.
Consequently, management assumes full responsibility for the completeness and reliability of all of the information presented in this report. To provide a reasonable basis for making these representations, management has established a comprehensive internal control framework that is designed both to protect the City's assets from loss, theft, or misuse and to compile sufficient reliable information for the preparation of the City's financial statements in conformity with generally accepted accounting principles (GAAP). Because the costs of internal controls should not outweigh their benefits, internal controls have been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatements.
The City's financial statements have been audited by Rogers, Anderson, Malody & Scott, LLP, a certified public accounting firm. The independent auditor concluded, based on the audit, that there was a reasonable basis for rendering an unmodified opinion on the City's financial statements for the fiscal year ended June 30, 2025. The independent auditor's report is presented as the first component of the financial section of this report.
GAAP requires that management provide a narrative, introduction, overview, and analysis to accompany the basic financial statements in the form of Management's Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the Management's Discussion and Analysis (MD&A) and should be read in conjunction with it. The City of Los Alamitos' Management's Discussion and Analysis (MD&A) can be found immediately following the report of the independent auditors.
City of Los Alamitos Profile
The City of Los Alamitos, with a population of 11,988, spans 4.3 square miles and is located in the northwest part of Orange County. The City is strategically located in Southern California, 30 miles from downtown Los Angeles and 10 miles from Anaheim. The City is 10 miles northeast of the seaport terminal of Long Beach, and 13 miles northeast of the Port of Los Angeles. Neighboring communities include Long Beach, Seal Beach, Cypress, and Garden Grove.
ii
The City of Los Alamitos is a Charter City and was incorporated on March 1, 1960. The City has a Council-Manager form of government. The City Council comprises five members elected biannually to four-year alternating terms. The City Council annually elects a Mayor from its members. The City Council appoints the City Manager, who is responsible for the day-to-day administration and management of City business within all City departments. The City of Los Alamitos employs a staff of forty-eight budgeted full-time employees. The City has contracts with Woodruff & Smart for city attorney services and Liebert Cassidy Whitmore for legal services related to labor and employment law.
The City of Los Alamitos provides many services, including police protection, construction and maintenance of streets and other infrastructure, public improvements, planning and zoning, economic development, recreational activities, cultural events, and general administrative and support services.
The annual budget serves as the foundation for the City's financial planning and control. The City Council holds public hearings and adopts an annual budget resolution for all funds. Adoption of the annual budget must occur before the end of the prior fiscal year. The City Council may modify appropriations with majority approval. The budgets are adopted and presented on a basis consistent with generally accepted accounting principles.
Changes in budget appropriations at the fund level during the year must be approved by the City Council. The legal level of expenditure is controlled at the department level, and appropriations lapse at the end of each fiscal year unless encumbered for re-appropriation by the City Council in the following fiscal year. The City Manager may, without Council approval, amend individual line items within any department and between divisions and programs in the personnel costs, maintenance and operations, capital outlay, and capital projects portions of the budget, provided that total appropriations for any fund are not increased.
Budget Overview/Economic Outlook
A conservative approach was used in preparing this year’s biennial budget, which included information gathered from various sources, including HdL, Beacon Economics, and the U.S.
Treasury. The new budget is like previous budget years, in that uncertainty exists in the economy and global markets. The addition of recent tariffs and the resulting tariff war have also added a layer of complexity to an already uncertain future.
The new tariff policies are more widespread and sweeping than we have seen before. Port cargo shipments have already slowed, which will result in lower inventory levels across the board, reduced selection for consumers, and may lead to higher prices. Despite these overriding concerns, the budget is structurally balanced and strategically positioned to weather any potential economic shifts. The City of Los Alamitos remains a model of fiscal strength and proactive governance. This budget reflects the stability Los Alamitos has built and the progress it intends to make.
iii
The Fiscal Year 2025-26 annual operating budget is balanced with operating revenues of $29,112,751 and operating expenditures of $28,610,726, resulting in an estimated surplus of $502,025. This represents the fifth consecutive year the City has adopted a budget that includes a surplus. General fund balance reserves are projected to be $21,823,059 on June 30, 2026. The City Council reviews its Fund Balance Policy once the books have been closed for the prior year.
The current reserve set aside includes $3.1 million for CalPERS reserves and $500,000 for other post-employment benefits (OPEB).
Long-Term Financial Planning and Major Initiatives
In addressing the City’s Unfunded Accrued Pension Liability (UAL), the Council adopted Resolution 2022-23, PERS Unfunded Accrued Liability Pay-Down Funding Policy. The policy established additional discretionary payments (ADPs) of $260,000 annually, which are being applied to reduce the City’s UAL. Additionally, the Council approved funding for the trust established with PARS at $50,000 per month. This funding is in addition to the already approved $260,000 annual ADP, which, combined with the trust funding, will accelerate the City’s UAL paydown.
Future changes to UAL are somewhat uncertain, as CalPERS is currently conducting an experience study (ALM) that is scheduled to take effect on July 1, 2026. The 2021 study reflected changes in assumptions, including a reduced discount rate assumption from 7.0% to 6.8%, a reduced inflation rate assumption from 2.5% to 2.3%, an increased employee wage growth assumption from 2.75% to 2.80%, and other demographic changes, all of which affect the UAL.
The current 2025 Experience Study may reflect additional potential changes due to persistent inflation, which is exerting upward pressure on the Wage Growth Assumption (2.8%) and downward pressure on the discount rate assumption (6.8%). In addition, mortality rates were higher during the COVID period, and U.S. trends suggest a significant improvement in mortality.
All of which will impact the UAL.
The adopted budget includes updates to the long-term financial model to provide a truer picture that reflects a healthy surplus going forward, as depicted below:
iv
Capital Improvements
The Capital Improvement Program (CIP) comprises $3.8 million in multi-year (carryover) projects, which will be largely funded by the surplus from prior years and covered by maturing investments. The proposed CIP for FY25-26 is $10.0 million, of which $5.4 million is the General Fund. Funding will largely come from and, for the most part, align with investment maturity. In addition, projects totaling $2.1 million have been deferred to FY26-27. As shown below, is a sixyear trend and projection of CIP, depicting funding from the General Fund vs. other funding sources.
v
Awards and Acknowledgments
The Government Finance Officers Association (GFOA) awarded the City a Certificate of Achievement for Excellence in Financial Reporting for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2024. The City received this award for publishing an easily readable and efficiently organized ACFR that satisfied both GAAP and applicable legal requirements.
This award is valid for a period of one year only. We believe that our current ACFR continues to meet the Program's requirements, and we are submitting it to the GFOA again this year.
The preparation and publication of this report would not have been possible without the dedication, professionalism, and teamwork of the entire staff of the Finance Department. The City Council has continued to provide its support to the Finance Department in planning responsible and progressive financial operations. We would like to express our gratitude to the Budget Standing Committee, the Mayor, and the City Council for their ongoing support in upholding the highest standards of professionalism in managing the City's finances.
Respectfully submitted,
_________________________
Craig Koehler
Finance Director, City Treasurer
___________________
raig Koehler
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CITY OF LOS ALAMITOS
Organization Chart ____________________________________________________________________________ -viPage 43 of 254
-viiPage 44 of 254
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Los Alamitos
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2024
Executive Director/CEO
-vii -
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Tel. 909-889-0871 | www.ramscpa.net | 735 E. Carnegie Dr. Suite 100, San Bernardino, CA 92408
CERTIFIED PUBLIC ACCOUNTANTS
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Independent Auditor’s Report
To the Honorable Mayor and Members of the City Council
City of Los Alamitos, California
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of City of Los Alamitos (the City), as of and for the year ended June 30, 2025, 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 businesstype activities, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2025, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (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.
Emphasis of Matter
As described in Note 1 to the financial statements during the year ended June 30, 2025, the City adopted new accounting guidance under Governmental Accounting Standards Board (GASB) Statement No. 101, Compensated Absences and No. 102, Certain Risk Disclosures. Our opinions are not modified with respect to these matter.
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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.
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.
-3-
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the required supplementary information, as listed in the table of contents, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with GAAS, 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 nonmajor fund financial statements and the nonmajor fund budgetary comparison schedules are presented for purposes of additional analysis and are not a required part of the basic financial statements.
Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements.
The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the accompanying supplementary information is fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual comprehensive financial report (ACFR). The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor's report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
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Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 9, 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 the City’s internal control over financial reporting and compliance.
San Bernardino, California
December 9, 2025
City of Los Alamitos
Management’s Discussion and Analysis
For the Year Ended June 30, 2025
-5-
The management of the City of Los Alamitos ("City") offers readers of the City's financial statements this narrative overview and analysis of the City's financial activities for the fiscal year ended June 30, 2025. We encourage readers to consider the information presented here in conjunction with additional information that is provided in our letter of transmittal, which can be found in the introductory section of this report and with the City’s financial statements. The presentation of the City's financial data in this analysis and statements will differ from the City's budget, in that the analysis and statements are required to follow the Generally Accepted Accounting Principles (GAAP), whereas the City's budget is an operational financial plan for the upcoming fiscal year.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis provides an introduction to the City's basic financial statements. The City's basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements.
Government-wide financial statements. The government-wide financial statements are designed to provide readers with a broad overview of the City's finances, in a manner similar to a private-sector business.
The statement of net position presents information on all of the City's assets and deferred outflows, and liabilities and deferred inflows, with the difference between being 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 deteriorating.
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 is 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 (e.g., uncollected taxes and earned but unused vacation leave).
The government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (government activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the City include general government, public safety, community development, recreation and community services, and public works. The City has no business-type activities.
The Governmental Activities are presented on the accrual basis of accounting, a basis of accounting that differs from the modified accrual basis of accounting used in presenting governmental fund financial statements. Note 1 of the Notes to the Basic Financial Statements fully describe these bases of accounting.
City of Los Alamitos
Management’s Discussion and Analysis
For the Year Ended June 30, 2025
-6-
Fund financial statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be divided into two categories:
governmental funds and proprietary funds.
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 and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements.
By doing so, readers may better understand the long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.
The City maintains fifteen individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the General Fund. Data from the other fifteen governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds are provided in the form of combining statements elsewhere in this report.
The City adopts an annual appropriated budget for its General Fund. A budgetary comparison schedule has been provided for the General Fund to demonstrate compliance with this budget.
Proprietary funds. Proprietary funds are used to account for activities where the City needs to show the full costs of providing the services, including depreciation. The City maintains seven internal service funds.
The City uses internal service funds to account for its self-insured insurance programs, fleet of vehicles, equipment, technology upgrades and replacements and other capital related activities.
Because these services benefit governmental functions, they have been included within governmental activities in the government-wide financial statements. Internal service funds are presented as proprietary funds because internal service funds follow the accrual basis of accounting.
Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.
City of Los Alamitos
Management’s Discussion and Analysis
For the Year Ended June 30, 2025
-7-
Combining statements. The combining statements referred to earlier in connection with nonmajor governmental funds are presented immediately following the notes.
Government-wide Financial Analysis
The tables below focus on the net position and changes in net position of the City's governmental activities.
Governmental Activities
2025 2024
Current and other assets 24,184,689 $ 29,710,756 $
Capital assets 32,671,129 26,231,544
Total assets 56,855,818 55,942,300
Deferred outflows of resources 9,608,991 11,371,719
Current liabilities 5,342,531 5,283,678
Noncurrent liabilities:
Long-term debt 4,686,950 4,011,952
Total pension liability 26,746,392 27,303,254
Total OPEB liability 5,444,165 6,032,116
Total liabilities 42,220,038 42,631,000
Deferred inflows of resources 3,719,402 3,283,092
Net position:
Net investment in capital assets 28,543,724 22,099,089
Restricted 2,828,421 2,434,219
Unrestricted (10,846,776) (3,133,381)
Total net position 20,525,369 $ 21,399,927 $
Net Position
CITY OF LOS ALAMITOS
As of June 30,
The City’s assets and deferred outflows exceeded liabilities and deferred inflows by $20,525,369 as of June 30, 2025, a decrease of $874,558 from June 30, 2024.
The largest portion of the City's net position reflects its investment in capital assets (i.e., land, buildings, machinery, equipment and infrastructure), net of any related debt that is still outstanding used to acquire those assets. The City uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Unrestricted net position had a deficit balance of $10,846,776 million as of June 30, 2025, which relates to the City's net pension liability and OPEB liability.
City of Los Alamitos
Management’s Discussion and Analysis
For the Year Ended June 30, 2025
-8-
The City has set aside $2.5 million for its unfunded pension liability and $600,000 for its OPEB liability. However, funding commenced in FY 24/25 towards the unfunded pension liability since these funds are held in an irrevocable trust the net pension liability has been reduced to account for these funds that have been set aside. A condensed summary of activities for the period ended June 30, 2025, and the prior fiscal year is illustrated in the table below.
Governmental Activities
2025 2024
Revenues
Program revenues:
Charges for services 2,828,099 $ 2,893,686 $
Operating grants and contributions 1,569,746 1,824,455
Capital grants and contributions 364,091 374,517
General revenues:
Taxes:
Property taxes, levied for general purpose 5,644,751 5,301,333 Utility users tax 2,570,089 2,830,000
Transit occupancy tax 581,033 598,038
Sales taxes 9,987,261 9,631,764
Franchise fees 849,535 881,552
Business license tax 1,049,189 1,141,082
Other taxes 825,787 803,180
Investment income 1,263,248 1,243,392
Other (32,638) 131,318
Total revenues 27,500,191 27,654,317
Expenses
General government 6,687,864 4,683,829
Public safety 11,777,288 10,760,234
Community development 4,398,067 2,575,580
Recreation and community services 3,894,564 3,227,871
Public works 1,377,616 2,305,517
Interest on long-term debt 239,350 191,281
Total expenditures 28,374,749 23,744,312
Change in net position (874,558) 3,910,005
Net position, beginning, as restated 21,399,927 17,489,922 Net position, ending 20,525,369 $ 21,399,927 $
CITY OF LOS ALAMITOS
Changes in Net Position
For the Year Ended June 30,
City of Los Alamitos
Management’s Discussion and Analysis
For the Year Ended June 30, 2025
-9-
Governmental Activities. Governmental activities decreased the City's net position by $874,558 compared to a net increase of $3,601,475 in the prior year. Key elements of this year's activity in relation to the prior year are as follows:
Revenues
While variances between years exist for the various revenue categories, the total net decrease was $154,126, which is largely attributable to the reduction in the utility users' tax based on economic factors predicting slow growth and potential inflation, which may affect revenue.
Expenses
Although variances between years exist for the various expense functions, the total net increase was $4,630,437. Increased expenses were recognized by the General Government, Public Safety, interest, and Recreation and Community Services due to an increase in staffing and community projects to the City. The table below presents the cost of each of the City's six largest programs-general government, public safety, community development, recreation and community services, public works, interest and fiscal charges as well as their respective program revenues. -
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
General government Public safety Community
development
Recreation and
community services
Public works Interest on long-term
debt
CITY OF LOS ALAMITOS
Expenses and Program Revenues
2025 Expenses 2024 Expenses 2025 Program Revenues 2024 Program Revenues See the Statement of Activities for further detail on program revenues and general revenues.
City of Los Alamitos
Management’s Discussion and Analysis
For the Year Ended June 30, 2025
-10-
FINANCIAL ANALYSIS OF THE CITY'S MAJOR FUNDS
The City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.
Governmental funds. The focus of the City's governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year.
As of the end of the current fiscal year, the City's governmental funds reported combined ending fund balance of $22,413,580, a decrease of $3,465,686 (15%) from the prior fiscal year's balance.
Of this amount, $3,405,323 or 15% of fund balance is constrained by the City's intent to utilize fund balance for specific purposes, which is reported within the fund balance classification assigned. Additionally, $2,828,421 or 13% of fund balance is restricted, which represents the portion of fund balance that is subject to externally enforceable limitations by law, enabling legislation or limitations imposed by creditors or grantors.
The fund balance of the City's General Fund decreased by $3,818,727 during the fiscal year compared to a $2,637,389 increase in the prior year. The decrease in the current year is primarily attributable to the increase in capital projects.
Other governmental funds realized an increase in fund balance of $353,041. While variances between years exist for the various nonmajor governmental funds, the net increase was primarily attributable to an increase in funding for Measure M and State Gas Tax, in other restricted amounts.
General Fund Budgetary Highlights
Actual revenues were $1,628,026 more than the final budgeted amount, which is primarily due to increased taxes, fines, forfeitures, and investment earnings. The expenditures for the General Fund at fiscal year-end were $314,934 less than the final budgeted expenditures, which is primarily due to a decrease in Recreation and Community Services resulting from lower program costs.
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets. At the end of Fiscal Year 2024-25, the City had $32.7 million invested in capital assets, including land, buildings, infrastructure, equipment, and right-to-use assets. This amount represents a net increase of $6,439,585, primarily due to increases in vehicles, buildings, and improvements, as well as infrastructure and construction in progress.
City of Los Alamitos
Management’s Discussion and Analysis
For the Year Ended June 30, 2025
-11-
Governmental Activities
2025 2024
Land 5,917,715 $ 5,917,715 $
Buildings and improvements 5,063,909 759,937
Right-to-use assets - buildings 88,923 222,306
Infrastructure 15,532,574 13,711,675
Equipment 1,004,937 1,213,627
Right-to-use assets - equipment 112,578 143,995
Right-to-use assets - subscriptions 116,697 -
Vehicles 110,340 280,131
Right-to-use assets - vehicles 555,723 347,656
Construction in progress 4,167,733 3,634,502
Totals 32,671,129 $ 26,231,544 $
CITY OF LOS ALAMITOS
City of Los Alamitos Capital Assets Net of Depreciation More detail on the City’s capital assets can be found in Note 5 to the financial statements of this report.
Long-term liabilities. At the end of fiscal year 2024-25, the City had $5.5 million in long-term liabilities which includes outstanding bond indebtedness of $3.1 million along with leases payable, claims payable and compensated absences. The net increase of $830,810 over the prior year is primarily due to a net increase in lease payables – police vehicles and compensated absences.
Governmental Activities
2025 2024
2015 Certificates of participation 3,077,065 $ 3,171,417 $ Leases payable - police vehicles 608,640 382,407
Leases payable - warehouse 93,956 229,558
Leases payable - cameras 96,370 127,070
Subscriptions payable 86,329 -
Claims payable 451,904 167,920
Compensated absences 1,109,591 614,673
Total liabilities 5,523,855 $ 4,693,045 $
CITY OF LOS ALAMITOS
City of Los Alamitos Long-Term Liabilities
More detail on the City’s long-term debt can be found in Notes 6, 7 and 11 to the financial statements of this report.
City of Los Alamitos
Management’s Discussion and Analysis
For the Year Ended June 30, 2025
-12-
ECONOMIC FACTORS AND NEXT YEAR'S BUDGET
A conservative approach was used in preparing this year’s biennial budget, which included information gathered from various sources, including HdL, Beacon Economics, and the U.S.
Treasury. According to economists at UCLA School of Management, the forecast is for slow growth for the next few years, tempered by inflation and additional interest rate moves by the U.S.
Treasury. Other factors remain in play, including the addition of tariffs and the resulting tariff war, which may result in lower inventories, less selection for consumers, and higher prices.
Despite these overriding concerns, the budget is structurally balanced and strategically positioned to weather any potential economic shifts. The City of Los Alamitos remains a model of fiscal strength and proactive governance. This budget reflects the stability Los Alamitos has built and the progress it intends to make.
On May 19, 2025, the 2025-26 City Budget was adopted. The annual operating budget is balanced, with operating revenues of $29,112,751 and operating expenditures of $28,610,726, resulting in an estimated surplus of $502,025. The City Council reviews its Fund Balance Policy once the books have been closed for the prior year. The current reserve includes $2,500,000 for CalPERS reserves and $600,000 for other post-employment benefits (OPEB).
CONTACTING THE CITY'S FINANCIAL MANAGEMENT
This financial report is designed to provide the City of Los Alamitos citizens, taxpayers, customers, investors, and creditors with a general overview of the City's finances and to illustrate the City's accountability for the money it receives. If you have questions about this report or need additional financial information, contact the City's Finance Department at the City of Los Alamitos, 3191 Katella Avenue, Los Alamitos, California, 90720, (562) 431-3538.
BASIC FINANCIAL STATEMENTS
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GOVERNMENT-WIDE
FINANCIAL STATEMENTS
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City of Los Alamitos
Statement of Net Position
June 30, 2025
The accompanying notes are an integral part of these financial statements. -13-
Governmental
Activities
ASSETS
Current assets:
Cash and investments (Note 3) 20,131,704 $
Receivables
Accounts 157,109
Due from employees 577
Due from other governments 2,882,880
Prepaid costs 45,500
Cash and investments - restricted (Note 3) 966,919
Total Current Assets 24,184,689
Noncurrent assets:
Capital assets: (Note 5)
Non-depreciable 10,085,448
Depreciable, net 22,585,681
Total Capital Assets 32,671,129
Total Noncurrent Assets 32,671,129
Total Assets 56,855,818
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding 84,863
Pension related (Note 8) 8,092,521
OPEB related (Note 9) 1,431,607
Total Deferred Outflows of Resources 9,608,991
City of Los Alamitos
Statement of Net Position, (Continued)
June 30, 2025
The accompanying notes are an integral part of these financial statements. -14-
Governmental
Activities
LIABILITIES
Current liabilities:
Accounts payable $ 1,523,899
Accrued liabilities 863,386
Accrued interest 29,921
Unearned revenue 1,714,624
Deposits payable 82,086
Compensated absences, due within one year (Note 6) 357,318 Bonds payable, due within one year (Note 7) 95,000
Leases and subscription payable, due within one year (Note 7) 335,657 Claims payable, due within one year (Note 11) 48,930
Total OPEB liability, due within one year (Note 9) 291,710 Total Current Liabilities 5,342,531
Noncurrent liabilities:
Compensated absences (Note 6) 752,273
Bonds payable (Note 7) 2,982,065
Leases and subscription payable (Note 7) 549,638
Claims payable (Note 11) 402,974
Net pension liability (Note 8) 26,746,392
Total OPEB liability (Note 9) 5,444,165
Total Noncurrent Liabilities 36,877,507
Total Liabilities 42,220,038
DEFERRED INFLOWS OF RESOURCES
Pension related (Note 8) 1,722,060
OPEB related (Note 9) 1,997,342
Total Deferred Inflows of Resources 3,719,402
NET POSITION
Net investment in capital assets 28,543,724
Restricted for:
Transportation 895,853
Cable television 93,006
Public safety 647,463
Community development 189,387
Air quality 213,615
Parks 789,097
Total Restricted 2,828,421
Unrestricted (deficit) (10,846,776)
Total Net Position 20,525,369 $
City of Los Alamitos
Statement of Activities
For the Year Ended June 30, 2025
The accompanying notes are an integral part of these financial statements. -15-
Program Revenues
Operating Capital Total
Charges for Grants and Grants and Program
Functions/Programs Expenses Services Contributions Contributions Revenue Governmental activities:
General government 6,687,864 $ 1,444,944 $ 18,803 $ - $ 1,463,747 $ Public safety 11,777,288 860,429 587,497 - 1,447,926
Community development 4,398,067 10,044 138,389 - 148,433 Recreation and community services 3,894,564 512,645 - - 512,645 Public works 1,377,616 37 825,057 364,091 1,189,185
Interest on long-term debt 239,350 - - - -
Total Governmental Activities 28,374,749 $ 2,828,099 $ 1,569,746 $ 364,091 $ 4,761,936 $
City of Los Alamitos
Statement of Activities, (Continued)
For the Year Ended June 30, 2025
The accompanying note are an integral part of these financial statements. -16-
Net (Expense)
Revenue and
Changes in
Functions/Programs Net Position
Governmental activities:
General government (5,224,117) $
Public safety (10,329,362)
Community development (4,249,634)
Recreation and community services (3,381,919)
Public works (188,431)
Interest on long-term debt (239,350)
Total Governmental Activities (23,612,813)
General revenues:
Taxes:
Property taxes, levied for general purpose 5,644,751
Utility users tax 2,570,089
Transient occupancy tax 581,033
Sales taxes 9,987,261
Franchise fees 849,535
Business license taxes 1,049,189
Other taxes 825,787
Total Taxes 21,507,645
Investment earnings 1,263,248
Other (32,638)
Total General Revenues 22,738,255
Change in Net Position (874,558)
Net Position, Beginning of Year, as Previously Reported 21,091,397 Restatement for correction of an error 308,530
Net Position, Beginning of Year, as Restated 21,399,927 Net Position, End of Year 20,525,369 $
FUND FINANCIAL STATEMENTS
Governmental Fund Financial Statements
Proprietary Fund Financial Statements
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GOVERNMENTAL FUND
FINANCIAL STATEMENTS
The Governmental Funds of the City are as follows:
General Fund - The General Fund accounts for all revenues and expenditures used to finance the traditional services associated with a municipal government which are not accounted for in the other funds. These services include general government, safety, community development, recreation and community services, and public works.
Nonmajor Governmental Funds – Nonmajor Governmental Funds is the aggregate of all the Nonmajor Governmental Funds.
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City of Los Alamitos
Balance Sheet
Governmental Funds
June 30, 2025
The accompanying notes are an integral part of these financial statements. -17-
Nonmajor Total
Governmental Governmental
General Funds Funds
ASSETS
Cash and investments (Note 3) 16,468,837 $ 3,643,696 $ 20,112,533 $ Receivables:
Accounts 147,729 - 147,729
Due from employees 577 - 577
Due from other governments 2,581,043 301,837 2,882,880
Prepaid costs 45,500 - 45,500
Due from other funds 2,559,421 - 2,559,421
Cash and investments - restricted (Note 3) 966,646 273 966,919 Total Assets 22,769,753 $ 3,945,806 $ 26,715,559 $
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 1,354,423 $ 77,460 $ 1,431,883 $
Accrued liabilities 863,386 - 863,386
Unearned revenues 1,577,845 136,779 1,714,624
Deposits payable 82,077 9 82,086
Due to other funds - 210,000 210,000
Total Liabilities 3,877,731 424,248 4,301,979
Fund Balances: (Note 13)
Nonspendable 46,077 - 46,077
Restricted - 2,828,421 2,828,421
Committed 1,582,719 287,814 1,870,533
Assigned 3,000,000 405,323 3,405,323
Unassigned (deficit) 14,263,226 - 14,263,226
Total Fund Balances 18,892,022 3,521,558 22,413,580
Total Liabilities and Fund Balances 22,769,753 $ 3,945,806 $ 26,715,559 $
City of Los Alamitos
Reconciliation of the Governmental Funds Balance Sheet to the Government-wide Statement of Net Position
June 30, 2025
The accompanying notes are an integral part of these financial statements. -18-
Total fund balances - governmental funds 22,413,580 $
Nondepreciable 10,085,448 $
Depreciable, net of Internal Service Fund of $1,478,474 21,107,207 Total Capital Assets 31,192,655
(2,178,934)
Bonds payable (2,985,000)
Interest payable, net of Internal Service Fund of $1,279 (28,642) Unamortized bond premium (92,065)
Leases payable - warehouse (93,956)
Deferred charge on refunding 84,863
Compensated absences (1,109,591) (4,224,391)
Pension related deferred outflows of resources 8,092,521 Pension related deferred inflows of resources (1,722,060) 6,370,461 (26,746,392)
OPEB related deferred outflows of resources 1,431,607
OPEB related deferred inflows of resources (1,997,342) (565,735) (5,735,875)
Net Position of Governmental Activities 20,525,369 $
Total pension liability is not due and payable in the current period and therefore is not reported in the governmental funds.
Total OPEB liability is not due and payable in the current period and therefore is not reported in the governmental funds.
Amounts reported for governmental activities in the Statement of Net Position are different because:
Deferred amounts relates to pension not available for current expenditures and are not reported in the governmental fund financial statements:
Deferred amounts relates to other postemployment benefits not available for current expenditures and are not reported in the governmental fund financial statements:
Capital assets used in governmental activities were not current financial resources.
Therefore, they were not reported in the Governmental Funds Balance Sheet.
Internal Service Funds are used by management to charge garage costs; technology replacement costs; police capital expenditures; facilities, street, parks, and pool capital expenditures; and self-insurance costs to individual funds. The assets and liabilities of the Internal Service Funds were included in the governmental activities in the Government-wide Statement of Net Position.
Total Internal Service Funds
Long-term liabilities are not due and payable in the current period and accordingly are not reported as fund liabilities. All liabilities, both current and long-term, are reported in the Statement of Net Position:
City of Los Alamitos
Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds
For the Year Ended June 30, 2025
The accompanying notes are an integral part of these financial statements. -19-
Nonmajor Total
Governmental Governmental
General Funds Funds
REVENUES
Taxes 20,684,637 $ 820,401 $ 21,505,038 $
Licenses and permits 779,895 - 779,895
Intergovernmental 56,581 1,043,857 1,100,438
Charges for services 924,660 - 924,660
Investment earnings 1,150,641 112,607 1,263,248
Fines and forfeitures 1,525,672 48,749 1,574,421
Program revenues - 342,832 342,832
Miscellaneous 136,773 20,793 157,566
Total Revenues 25,258,859 2,389,239 27,648,098
EXPENDITURES
Current:
General government 5,557,583 - 5,557,583
Public safety 8,687,897 - 8,687,897
Community development 3,831,121 - 3,831,121
Recreation and community services 3,153,125 - 3,153,125 Public works 4,471,257 - 4,471,257
Capital outlay 1,286,133 1,607,923 2,894,056
Debt service:
Principal 135,602 90,000 225,602
Interest and fiscal charges 8,398 118,275 126,673
Total Expenditures 27,131,116 1,816,198 28,947,314
Revenues Over (Under) Expenditures (1,872,257) 573,041 (1,299,216)
OTHER FINANCING SOURCES (USES)
Transfers in (Note 4) 425,000 205,000 630,000
Transfers out (Note 4) (2,680,000) (425,000) (3,105,000) Total Other Financing Sources (Uses) (2,255,000) (220,000) (2,475,000) Net Change in Fund Balances (4,127,257) 353,041 (3,774,216) Fund Balances, Beginning of Year, as Previously Reported 22,710,749 3,168,517 25,879,266 Restatement for correction of an error 308,530 - 308,530 Fund Balances, Beginning of Year, as Restated 23,019,279 3,168,517 26,187,796 Fund Balances, End of Year 18,892,022 $ 3,521,558 $ 22,413,580 $
City of Los Alamitos
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balance to the Government-wide Statement of Net Activities For the Year Ended June 30, 2025
The accompanying notes are an integral part of these financial statements. -20-
Net Change in Fund Balances - Total Governmental Funds (3,774,216) $ Total capital outlay expenditures reported in governmental funds 2,894,056 $ Plus: repair and maintenance expenditures capitalized 4,192,655 Total Capital Outlay 7,086,711
Total depreciation reported in Government-wide Statement of Activities (1,064,151) Less: depreciation reported in the Internal Service Fund 379,856 (684,295)
(787,803)
(285,502)
(494,918)
225,602
4,352
1,125
(2,165,614)
Change in Net Position of Governmental Activities (874,558) $ Governmental activities in the Statement of Activities were reported differently because:
Certain pension expenses reported in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds.
Amortization of deferred charge on refunding and bond premium do not use current financial resources and therefore not reported as expenditures in the governmental funds.
Compensated absences were reported in the Government-wide Statement of Activities, but they did not require the use of current financial resources. Therefore, compensated absences were not reported as expenditures in the governmental funds.
The issuance of long-term debt provides current financial resources to governmental funds.
However, the repayment reduces long-term liabilities in the governmental activities Statement of Net Position.
Governmental Funds report capital outlay as expenditures. However, in the Government-wide Statement of Activities, the costs of those assets is allocated over their estimated useful lives as depreciation expense. The amount of capital assets recorded in the current period is listed below.
Capital assets used in governmental activities were not current financial resources. Therefore, they were not reported in the Governmental Funds Balance Sheet.
Depreciation expense of capital assets is reported in the Government-wide Statement of Activities, but they do not require the use of current financial resources. Therefore, depreciation expense is not reported as expenditures in the governmental funds except for the Internal Service fund amount listed below.
Total
Certain other post-employment benefit expenses reported in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds.
Internal Service Funds are used by management to charge garage costs; technology replacement Accrued interest for long term liabilities. This is the net change in accrued interest for the current period
PROPRIETARY FUND
FINANCIAL STATEMENTS
Internal Service Funds - To account for the costs associated with the City's insurance, for funding equipment replacement, and fleet maintenance.
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City of Los Alamitos
Statement of Net Position
Proprietary Funds
June 30, 2025
The accompanying notes are an integral part of these financial statements. -21-
Governmental
Activities
Internal
Service Funds
ASSETS
Current Assets:
Cash and investments (Note 3) 19,171 $
Accounts receivable 9,380
Total Current Assets 28,551
Noncurrent Assets:
Capital assets - net of accumulated depreciation (Note 5) 1,478,474 Total Noncurrent Assets 1,478,474
Total Assets 1,507,025
LIABILITIES
Current Liabilities:
Accounts payable 92,016
Accrued interest 1,279
Due to other funds 2,349,421
Claims and judgements 48,930
Lease and subscription payable (Note 7) 241,701
Total Current Liabilities 2,733,347
Long-term Liabilities:
Claims and judgements 402,974
Lease and subscription payable (Note 7) 549,638
Total Long-term Liabilities 952,612
Total Liabilities 3,685,959
NET POSITION (DEFICIT)
Net investment in capital assets 687,135
Unrestricted (2,866,069)
Total Net Position (2,178,934) $
City of Los Alamitos
Statement of Revenues, Expenses and Changes in Net Position Proprietary Funds
For the Year Ended June 30, 2025
The accompanying notes are an integral part of these financial statements. -22-
Governmental
Activities
Internal
Service Funds
OPERATING REVENUES
Miscellaneous 80,077 $
Total Operating Revenues 80,077
OPERATING EXPENSES
Supplies and materials 575,354
Outside services 2,020,929
Claims expense 1,478,491
Depreciation 379,856
Total Operating Expenses 4,454,630
Operating Income (Loss) (4,374,553)
NON-OPERATING REVENUES (EXPENSES)
Loss on disposal of capital assets (147,907)
Interest expense (118,154)
Total Non-Operating Revenues (Expenses) (266,061)
Income (Loss) Before Transfers (4,640,614)
TRANSFERS
Transfers in (Note 4) 2,475,000
Total Transfers 2,475,000
Change in Net Position (2,165,614)
Net Position (Deficit), Beginning of Year (13,320)
Net Position (Deficit), End of Year (2,178,934) $
City of Los Alamitos
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2025
The accompanying notes are an integral part of these financial statements. -23-
Governmental
Activities
Internal
Service Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Payments to suppliers and service providers (4,004,967) $ Cash received from (payments to) others 1,583,779
Net Cash Used for Operating Activities (2,421,188)
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES
Transfers in 2,475,000
Net borrowings (repayments) to other funds 309,223
Net Cash Provided by Non-Capital Financing Activities 2,784,223
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition and construction of capital assets (92,539) Proceeds from sale of capital assets 15,535
Principal paid on leases payable (206,066)
Interest paid on leases payable (118,154)
Net Cash Used for Capital and Related Financing Activities (401,224) Net decrease in cash and cash equivalents (38,189)
Cash and equivalents, beginning of year 57,360
Cash and equivalents, end of year 19,171 $
RECONCILIATION OF OPERATING LOSS TO NET CASH
USED FOR OPERATING ACTIVITIES
Operating loss (4,374,553) $
Adjustments to reconcile operating loss to net cash
provided by (used for) operating activities:
Depreciation 379,856
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable 1,503,702
Increase (decrease) in accounts payable (214,177)
Increase (decrease) in claims and judgements 283,984
Total Adjustments 1,953,365
Net Cash Used for Operating Activities (2,421,188) $
NONCASH INVESTING, CAPITAL AND FINANCING ACTIVITIES
Lease liability $ 487,928
Lease acquisition (487,928)
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NOTES TO THE BASIC
FINANCIAL STATEMENTS
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City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-24-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the City of Los Alamitos, California, (the “City”) have been prepared in conformity with accounting principles generally accepted in the United States (“U.S.
GAAP”) as applied to governmental agencies. The Governmental Accounting Standards Board (“GASB”) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The following is a summary of the City’s significant policies:
A) Financial Reporting Entity
The City was incorporated on March 1, 1960. The Charter of the City of Los Alamitos was adopted by a vote of the people in September 1966, and the City enjoys all rights and privileges pertaining to such “Charter Law” cities.
The financial statements include the financial activities of the City, the primary government, and its blended component unit, the Los Alamitos Public Financing Corporation (the Corporation). The component unit, discussed below, is included in the City’s reporting entity because of the significance of its operational and financial relationship with the City. This entity is legally separate from the City. However, the City’s elected officials have continuing accountability for fiscal matters of this entity.
An organization is fiscally dependent on the primary government if it is unable to adopt its budget, levy taxes or set rates or charges, or issue bonded debt without approval by the primary government. In a blended presentation, a component unit’s balances and transactions are reported in a manner similar to the balances and transactions of the City. Component units are presented on a blended basis when the component unit’s governing body is substantially the same as the City’s or the component unit provides services almost entirely to the City.
Management determined that the following entities should be reported as blended component units based on the criteria above. Each blended component unit has a June 30 year-end, has a governing board that is substantially the same as the City’s, there is a financial benefit or burden relationship between the City and the blended component unit, and the City is financially accountable for each of the blended component units.
The Los Alamitos Public Facilities Corporation – The Corporation was formed February 6, 2006, pursuant to the Non-Profit Corporation Law of the State of California for the purpose of assisting the City in financing the acquisition, construction, and improvement for public benefit within the City limits. The Corporation is governed by a five-member board that is the City Council of the City of Los Alamitos. Separate financial statements are not prepared.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-25-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) B) Basis of Accounting and Measurement Focus
The City’s basic financial statements consist of government-wide statements, including the Statement of Net Position and the Statement of Activities, and fund financial statements, which provide a more detailed level of financial information.
Government-Wide Financial Statements
The Statement of Net Position and the Statement of Activities display information about the City as a whole. These statements include the financial activities of the City and the Corporation. Certain eliminations have been made as prescribed by GASB Statement No. 34 in regard to interfund activities, payables, and receivables.
The Statement of Net Position presents the financial position of the governmental activities of the City and its component unit and the Statement of Activities reports expenses of each specific governmental function, offset by program revenues attributable to each functional program. A function is an assembly of similar activities and may include portions of a fund or summarize more than one fund to capture the expenses and program revenues associated with a distinct functional activity.
Program revenues that are attributable to functional programs are separated into three categories:
Charges for services
Operating grants and contributions
Capital grants and contributions
Charges for services report fees and other charges to users of the City’s services, operating grants, and contributions finance annual operating activities and can include restricted investment income, and capital grants and contributions fund the acquisition, construction, or rehabilitation of capital assets. These revenues are subject to externally imposed restriction to these program uses. Other revenues sources not included with program revenues are reported as general revenues of the City. These can include taxes or unrestricted investment income.
Fund Financial Statements
The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, deferred outflows, liabilities, deferred inflows, fund equity, revenues, and expenditures or expenses as appropriate. The City uses two categories of funds: governmental and proprietary.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-26-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) B) Basis of Accounting and Measurement Focus, (Continued) The City segregates transactions related to certain City functions or activities in separate funds in order to aid financial management and to demonstrate legal compliance. Fund financial statements are designed to present financial information of the City at a more detailed level. Individual governmental fund identified as being Major, as prescribed by governmental accounting standards or by Management of the City, are reported in separate columns on the financial statements.
Governmental Funds
Governmental funds are those through which most governmental functions typically are financed. Governmental fund reporting focuses on the sources, uses, and balance of the current financial resources. Expendable assets are assigned to the various governmental funds according to the purpose for which they may or must be used. Fund liabilities are assigned to the fund from which they will be liquidated. The City reports the difference between its governmental fund assets and its liabilities and deferred inflows of resources as fund balance.
Governmental fund financial statements include a Balance Sheet and a Statement of Revenues, Expenditures, and Changes in Fund Balances for all major governmental funds and other governmental funds aggregated. Accompanying reconciliations are presented to explain the differences in fund balance as presented in these statements to the net position presented in the government-wide financial statements.
The funds designated as major funds are determined by a mathematical calculation consistent with GASB Statement No. 34 or are elected by Management of the City based on Management’s belief that the presentation of the funds are particularly important to financial statement users for reasons including public interest or consistency of reporting. The City reports the following major governmental funds:
The General Fund is used to account for all of the general operations and other financial transactions of the City, which are not accounted for by another fund.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-27-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) B) Basis of Accounting and Measurement Focus, (Continued) Additionally, the City reports the following fund types:
The Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than for debt service or capital projects) that are restricted by law or administrative action or committed to expenditures for specified purposes. The Capital Projects Funds are used to account for and report financial resources that are restricted, committed, or assigned for the acquisition or construction of major capital facilities, other than those financed by Internal Service Funds. The Debt Service Fund is used to account for and report financial resources that are restricted, committed, or assigned for the payment of, long-term debt principal, interest, and related costs for the 2006 Certificates of Participation (Laurel Park Acquisition).
Proprietary Funds
Proprietary funds are used to account for ongoing organizations and activities, which are operated and financed in a manner similar to those found in the private sector. The reporting focus on the determination of operating income, changes in net position, financial position, and cash flows. The City’s proprietary funds are classified as internal service funds. The Internal Service Funds are used to account for interdepartmental operations where it is the stated intent that costs of providing services to the departments of the City on a continuing basis be financed or recovered primarily by charges to the user departments. The City’s internal service funds are used to account for its self-insured insurance programs, fleet of vehicles, equipment, technology upgrades, and replacements and other capital related activities.
Government-Wide Financial Statements
The government-wide financial statements are presented on an “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all the City’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources, including capital assets, infrastructure assets, and long-term liabilities, are included in the accompanying Statement of Net Position. The Statement of Activities presents changes in net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred. All internal balances and transactions have been eliminated from their respective statements to avoid over reporting relating assets, liabilities, revenues, and expenses, except for internal service fund charges provided and used.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-28-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) B) Basis of Accounting and Measurement Focus, (Continued) Financial Statements
All governmental funds are accounted for on a spending or “current financial resources” measurement focus and the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on the Balance Sheet. The Statement of Revenues, Expenditures, and Changes in Fund Balances present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current position. Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period.
Like the government-wide statements, all proprietary funds are accounted for using the “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all assets and liabilities (whether current or noncurrent) are included on the Statement of Net Position. The Statement of Revenues, Expenses, and Changes in Net Position present increases (revenues) and decreases (expenses) in total net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred.
Basis of Accounting
Basis of accounting determines when transactions are recorded in the financial records and reported on the financial statements. Government-wide financial statements are prepared using the accrual basis of accounting. At the fund reporting level, the governmental funds use the modified accrual basis of accounting. Proprietary funds use the accrual basis of accounting at both reporting levels. Differences in the accrual and the modified accrual basis of accounting arise in the recognition of revenue, the recording of deferred inflows of resources, and in the presentation of expenses versus expenditures.
Revenue – Exchange Transactions
Revenue resulting from exchange transactions, in which each party gives and receives essentially equal value, is recorded on the accrual basis when the exchange takes place. On the modified accrual basis, revenue is recorded when the exchange takes place and in the fiscal year in which the resources are measurable and become available. Available means that the resources will be collected within the current fiscal year or are expected to be collected soon enough thereafter to be used to pay liabilities of the current fiscal year. For the City, the availability is defined within 60 days of year-end.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-29-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) B) Basis of Accounting and Measurement Focus, (Continued) Revenue – Non-Exchange Transactions
Non-exchange transactions in which the City receives value without directly giving equal value in return, includes sales taxes, property taxes, grants and donations. On an accrual basis, revenue from sales taxes is recognized in the period in which the taxable sale takes place.
Revenue from property taxes is recognized in the fiscal year for which the taxes are levied.
Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. Eligibility requirements include timing requirements, which specify the year when the resources are required to be used or the year when use is first permitted, matching requirements, in which the City must provide local resources to be used for a specified purpose, and expenditure requirements, in which the resources are provided to the City on a reimbursement basis. Major revenue sources susceptible to accrual include property tax, sales tax, utility users tax, franchise Tax, and licenses. On a modified accrual basis, revenue from non-exchange transaction also must be available (generally 60 days after year-end) before it can be recognized in the governmental funds. However, the City has adopted a 12-month recognition period for grant revenues.
Unavailable Revenue
Unavailable revenue, presented under deferred inflows of resources, arise when potential revenues do not meet both the measurable and available criteria for recognition in the current period. In subsequent periods when both revenue recognition criteria are met, the deferred inflow is removed from the balance sheet and revenue is recognized.
Unearned Revenue
Unearned revenue arises when assets are recognized before revenue recognition criteria listed above have been satisfied. In subsequent periods when the government has a legal claim to the resources, the unearned revenue is removed from the balance sheet and revenue is recognized.
Expenses/Expenditures
On the accrual basis of accounting, expenses are recognized at the time they are incurred.
On the modified accrual basis, expenditures generally are recognized in the accounting period in which the related fund liability is incurred and due, if measurable.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-30-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) B) Basis of Accounting and Measurement Focus, (Continued) Proprietary Funds Operating and Non-Operating Revenues and Expenses Proprietary funds distinguish operating revenues and expenses from non-operating items.
Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations.
Operating expenses for internal service funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses.
C) Cash, Cash Equivalents, and Investments
Cash Management
The City pools cash resources of its various funds to facilitate cash management. Cash in excess of current requirements is invested and reported as investments. It is the City’s intent to hold investments until maturity. However, the City may, in response to market conditions, sell investments prior to maturity in order to improve the quality, liquidity or yield of the portfolio. Interest earnings are apportioned among funds based on ending accounting period cash and investment balances.
Investments Valuation
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. Market value is used as fair value for those securities for which market quotations are readily available.
State Investment Pool
The City participates in the Local Agency Investment Fund (LAIF), an investment pool managed by the State of California. LAIF has invested a portion of the pool 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. In addition, these structured notes and asset-backed securities are subject to market risk as a result of changes in interest rates.
Cash Equivalents and Cash Flows
For purposes of the statement of cash flows, the City considered all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. All cash and investments of the proprietary fund types are pooled with the City's pooled cash and investments.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-31-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) D) Internal Receivable and Payables
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either “due to/from other funds” (i.e. the current portion of interfund loans) or “interfund advances receivable/payable” (i.e. the non-current portion of interfund loans). All other outstanding balances between funds are reported as “due to/from other funds.” Advances between funds, as reported in the fund financial statements, are presented as nonspendable in fund balances to indicate that they are not in a spendable form.
E) Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items. The cost of prepaid items is recorded as an expenditure/expense when consumed.
F) Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, sidewalks and similar items), are reported in the applicable governmental activities column in the government-wide financial statements. Capital assets are defined by the City as assets with an initial, individual cost of more than $10,000 and an estimated useful life in excess of two years, except for computer software and hardware and infrastructure assets which have a capitalization threshold of $20,000. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed (except for intangible right-to-use assts), the measurement of which is discussed thereafter. Donated capital assets are recorded at acquisition value at the date of acquisition. As permitted under GASB Statement No. 34 for small governmental entities, the City has elected to report infrastructure assets prospectively beginning July 1, 2003.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized.
Property, plant, and equipment of the primary government, as well as the component unit, are depreciated using the straight-line method over the following estimated useful lives:
Capital Asset Classes Lives
Equipment 5-10 years
Vehicles 3-15 years
Furniture 7 years
Buildings 50 years
Improvements 5-20 years
Infrastructure 50 years
Right-to-use lease and subscription assets are amortized over the life of the associated contract using the straight-line method.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-32-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) G) Compensated Absences Payable
Under certain circumstances and according to the negotiated labor agreements, employees of the City are allowed to accumulate annual leave. This amount is accrued in the governmentwide and proprietary fund statements. Refer to Note 6 for additional information.
H) Long-Term Obligations
In the government-wide financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities.
In accordance with GASB Statement No. 65, Items Previously Reported as Assets and Liabilities, debt issuance costs except for any portion related to prepaid insurance are recognized as expense in the period incurred.
I) Claims and Judgments
The City records a liability for claims, judgments, and litigation when it is probable that an asset has been impaired, or a liability has been incurred prior to fiscal year-end and the probable amount of loss (net of any insurance coverage) can be reasonably estimated.
The City is exposed to various risks of losses related to torts; theft of, damages to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The City currently reports all of its risk management activities in its General Fund. Claims expenditures and liabilities are reported when it is probable that a loss has occurred, and the amount of the loss can be reasonably estimated. These losses include an estimate of claims that have been incurred, but not reported.
It is the City’s policy to liquidate claims and judgments existing at June 30, with future resources. Accordingly, the liabilities are recorded in the Statement of Net Position. These noncurrent amounts will be recorded as fund expenditures in the fiscal year in which they are paid or become due on demand.
J) Deferred Outflows and Inflows of Resources
In addition to assets, the statements of net position and the governmental funds balance sheet will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/ expenditure) until then. The City has two items which qualify for reporting in this category.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-33-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) J) Deferred Outflows and Inflows of Resources, (Continued) Deferred pension related items relate to the net pension obligation reported in the statement of net position. These outflows are the results of contributions made after the measurement date, which are recognized in the following year, and consist of adjustments due to differences in proportions, changes in assumptions, and differences between expected and actual experiences, which are deferred and amortized over the expected average remaining lifetime.
Additionally, the net difference between projected and actual earnings on pension plan investments is reported and amortized over 5 years. Deferred outflows from changes in net pension liability arise only under a full accrual basis of accounting and are reported in the government-wide Statement of Net Position and proprietary funds Statement of Net Position.
The City also reports a deferred charge on refunding which results from the difference in the carrying value of the refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter of the life of the refunded or refunded or refunding debt.
In addition to liabilities, the statements of net position and the governmental funds’ balance sheet will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The City has two items which qualifies for reporting in this category.
The first item is in relation to the net pension obligation reported in the statement of net position. These inflows are the results of changes of assumptions, differences between expected and actual experiences, adjustments due to differences in proportions, and differences between proportionate share of contributions and actual contributions. Inflows from changes in net pension liability arise only under a full accrual basis of accounting and are reported in the government-wide Statement of Net Position and proprietary funds Statement of Net Position.
The City also reports one type of item, which arises only under the modified accrual basis of accounting, that qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is reported only in the governmental funds’ balance sheet. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available.
K) Net Position
Net position is the excess of all the City’s assets over all its liabilities, regardless of fund. Net position is divided into three captions under GASB Statement No. 34. These captions apply only to net position, which is determined only at the government-wide level, and are described below:
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-34-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) K) Net Position, (Continued)
Net Investment in Capital Assets – the portion of net position that 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.
Restricted – the portion of net position that 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 principally include funds restricted to community development projects purposes and funds for use in building improvements and governmental grants.
Unrestricted – the portion of net position that is not restricted as to use.
L) Net Position Flow Assumptions
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.
M) Fund Balance
In the fund financial statements, governmental funds report fund balance as nonspendable, restricted, committed, assigned, or unassigned based primarily on the extent to which the City is bound to honor constraints on how specific amounts can be spent. Nonspendable – the portion of a fund balance that includes amounts that cannot be spent because they are either not in a spendable form, such as prepaid items, inventories, or loans receivable.
Restricted – the portion of a fund balance that reflects constraints placed on the use of resources (other than non-spendable items) that are either (a) externally imposed by creditors (such as through debt covenants, grantors, contributors, or laws or regulations of other governments) or (b) imposed by law through constitutional provisions or enabling legislation. Examples of restricted fund balances include State Gas Tax, Asset Seizure, and Measure M funds.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-35-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) M) Fund Balance, (Continued)
Committed – the portion of a fund balance that included amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the government’s highest level of decision- making authority and remain binding unless removed in the same manner.
o The City Council, as the City’s highest level of decision-making authority, may commit fund balance for specific purposes pursuant to constraints imposed by formal actions taken, such as a resolution.
o These committed amounts cannot be used for any other purpose unless the City Council removes or changes the specified use through the same type of formal action taken to establish the commitment.
o City Council action to commit fund balance needs to occur within the fiscal reporting periods; however, the amount can be determined subsequently. Assigned – amounts that are constrained by the City’s intent to be used for specific purposes, but are neither Restricted nor Committed, should be reported as Assigned fund balance. This policy hereby delegated the authority to assign amounts to be used for specific purposes to the City Manager for the purpose of reporting these amounts in the City’s annual financial statements. Examples of assigned fund balance are funds intended for Capital Improvement Projects and Equipment Replacement. Unassigned – residual net resources in excess of what can properly be classified in one of the other four categories and do not have any specific spending limitations. The General Fund is the only fund that reports a positive unassigned fund balance amount.
In governmental funds, other than the General Fund, if expenditures incurred for specific purposes exceed the amounts that are restricted, committed, or assigned to those purposes, the City reports a negative unassigned fund balance in that fund.
In July 2017, City Council established a Reserve for Emergencies to be maintained at 25% of General Fund appropriations. The reserve is only to be used, with Council approval, in the case of a declared natural disaster or financial emergency. A financial emergency is considered when annual revenues decrease by 5% or more or when annual expenditures increase by 5% or more.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-36-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) N) Fund Balance Flow Assumptions
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.
O) Pensions
For purposes of measuring the net pension liability, deferred outflows and inflows of resources related to pensions, and pension expense, information about the pension plans fiduciary net positions and additions to/deductions from the pension plans fiduciary net positions have been determined on the same basis as they are reported by the CalPERS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value.
GASB 68 requires that the reported results must pertain to liability and asset information within certain defined timeframes. For this report, the following timeframes are used.
Valuation Date (VD) June 30, 2023
Measurement Date (MD) June 30, 2024
Measurement Period (MP) June 30, 2023 to June 30, 2024
P) Other Post-Employment Benefits (OPEB)
For purposes of measuring the other post-employment benefits (OPEB) liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense have been determined by an independent actuary. For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value.
Generally accepted accounting principles require that the reported results must pertain to liability and asset information within certain defined timeframes. For this report, the following timeframes are used:
Valuation Date (VD) June 30, 2024
Measurement Date (MD) June 30, 2025
Measurement Period (MP) June 30, 2024 to June 30, 2025
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-37-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) Q) New Accounting Pronouncements
In 2025, the City adopted new accounting standards to conform to the following Governmental Accounting Standards Board Statements:
GASB Statement No. 101 – Compensated Absences: The primary objective of this Statement is to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences.
GASB Statement No. 102 – Certain Risk Disclosures: The primary objective of this Statement is to provide users of government financial statements with essential information about risks related to a government’s vulnerabilities due to certain concentrations or constraints.
R) Leases
Lessee: The City is a lessee for a noncancellable lease of equipment. The City recognizes a lease liability and an intangible right-to-use lease asset (lease asset) in the government-wide financial statements. The City recognizes lease liabilities with an initial, individual value of $10,000 or more.
At the commencement of a lease, the City initially measures the lease liability at the present value of payments expected to be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The lease asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus certain initial direct costs. Subsequently, the lease asset is amortized on a straight-line basis over its useful life.
Key estimates and judgments related to leases include how the City determines the discount rate it uses to discount the expected lease payments to present value, lease term, and lease payments. The City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for leases. The lease term includes the noncancellable period of the lease. Lease payments included in the measurement of the lease liability are composed of fixed payments and purchase option price that the City is reasonably certain to exercise.
The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the lease liability.
Lease assets are reported with other capital assets and lease liabilities are reported with longterm debt on the Statement of Net Position.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-38-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) R) Leases, (Continued)
Lessor: 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 the lease payments received. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date.
Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease term.
Key elements and judgement include how the City determines the discount rate it uses to discount the expected lease receipts to present value, lease term, and lease receipts. The City uses it 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 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 currently does not have any leases receivable.
S) Property Taxes
Under California law, property taxes are assessed and collected by the counties at up to 1% of assessed value, plus other increases approved by the voters. The property taxes go into a pool and are then allocated to the cities based on complex formulas.
Property taxes are assessed, collected and allocated by Orange County throughout the fiscal year according to the following property tax calendar.
Lien Date January 1
Levy Date July 1 to June 30
Due Dates November 1, 1st installment, February 1, 2nd installment Delinquent Dates December 11, 1st installment, April 11, 2nd installment Property taxes receivable for the governmental fund types, which have been remitted within 60 days subsequent to year end, are considered measurable and available and recognized as revenues. All other property taxes are offset by deferred property tax inflows of resources and, accordingly, have not been recorded as revenue. Taxes are considered past due on the above delinquent dates, at which time the applicable property is subject to lien, and penalties and interest are assessed.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-39-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (CONTINUED) T) Functional Classifications
Expenditures of the Governmental Funds are classified by function. Functional classifications are defined as follows:
General government – includes legislative activities, which have a primary objective of providing legal and policy guidelines for the City. Also included in this classification are those activities that provide management or support services across more than one functional area.
Public safety – includes those activities that involve the protection of people and property.
Community development – includes those activities such as planning, code enforcement, and building and safety inspections.
Recreation and community services – includes those activities that involve the community cultural and leisure activities.
Public works – includes those activities that involve the maintenance and improvement of City streets, roads, and park development and maintenance. Capital outlay – includes purchases of property, plant, and equipment which are expensed in the governmental funds because governmental funds use the current financial resources measurement focus.
Principal retirement – includes principal payments for long-term liabilities. Interest and fiscal charges – includes current payments for interest on the City’s longterm debt.
U) Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-40-
2) STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A) Violations of Legal or Contractual Provisions
Note 2 to Required Supplementary Information, on the Excess of Expenditures over Appropriations, describes budgetary violations that occurred in the General Fund for the year ended June 30, 2025.
B) Deficit Fund Balance
At June 30, 2025, no special revenue fund reported a deficit fund balance. 3) CASH AND INVESTMENTS
A) Summary of Cash and Investments
Cash and investments are classified in the accompanying financial statements as follows:
Cash and investments 20,131,704 $
Cash and investments - restricted 966,919
Total Cash and Investments 21,098,623 $
Cash and Investments at June 30, 2025 consisted of the following:
Cash on hand 3,500 $
Demand deposits 2,157,912
Investments 18,937,211
Total Cash and Investments 21,098,623 $
The City follows the practice of pooling cash and investments of all funds except for funds required to be held by fiscal agents under provisions of bond indentures. Interest income earned on pooled cash and investments is allocated monthly to the various funds based on monthly cash and investment balances. Interest income from cash and investments with fiscal agents is credited directly to the related fund.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-41-
3) CASH AND INVESTMENTS, (CONTINUED)
B) Cash Deposits
All City’s cash and investments as of June 30, 2025, were collateralized or insured with securities held by pledging financial institutions in the City’s name. The California Government Code requires California banks and savings and loan associations to secure the City’s cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest in such collateral superior to those of a general creditor. Thus, collateral for cash deposits is considered to be held in the City’s name.
C) Investments
The following table identifies the investment types that are authorized for the City by the California Government Code (or the City’s investment policy, where more restrictive). The table also identifies certain provisions of the California Government Code (or the City’s investment policy, where more restrictive) that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustees that are governed by the provisions of bond indentures of the City, rather than the general provisions of the California Government Code or the City’s investment policy.
Maximum Maximum
Maximum Percentage Investment in
Authorized Investment Type Maturity of Portfolio* One Issuer United States (U.S.)Treasury Obligations 5 years None None Federal Agency Securities 5 years None None
Certificates of Deposit 5 years None $250,000
Negotiable Certificates of Deposit 5 years 30% 30%
Local Agency Investment Fund (LAIF) N/A None $75 million Medium Term Notes 5 years 30% None
Local Agency Bonds 5 years None None
Commercial Paper 270 days 25% None
* Excludes amounts held by bond trustees that are not subject to California Government Code restrictions.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-42-
3) CASH AND INVESTMENTS, (CONTINUED)
C) Investments, (Continued)
Investments of debt proceeds held by bond trustees are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the City’s investment policy.
Maximum Maximum
Maximum Percentage Investment in
Authorized Investment Type Maturity of Portfolio One Issuer U.S. Treasury Obligations 30 years None None
U.S. Agency Securities None None None
Banker's Acceptances 180 days 40% 30%
Commercial Paper 270 days 25% 10%
Money Market Mutual Funds None None None
Investment Agreements N None None None
Local Agency Bonds None None None
Medium Term Notes 5 years 30% None
Negotiable Certificates for Deposits None 30% None
Local Agency Investment Fund (LAIF) None None None
Investment in State Investment Pool
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The fair value of the City’s investment in this pool is reported in the accompanying financial statements at amounts based upon the City’s pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawals is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis. LAIF does not impose limits or restrictions on participant withdrawals, and the entire balance of the City’s investment in the portfolio is available for withdrawal at any time. LAIF is not registered with the Securities and Exchange Commission and is not rated. Deposits and withdrawals in LAIF are made on the basis of $1 and not fair value. Accordingly, the City’s investment in this pool is measured on uncategorized inputs not defined as Level 1, 2, or 3.
D) Risk Disclosures
Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer-term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-43-
3) CASH AND INVESTMENTS, (CONTINUED)
D) Risk Disclosures, (Continued)
Information about the sensitivity of the fair values of the City’s investments (including investments held by bond trustees) to market interest rate fluctuations is provided by the following table that shows the distribution of the City’s investments by maturity:
Remaining Investment Maturities
Less Than 1 to 3 4 to 5
Investment Type 1 Year Years Years Total
U.S. Treasury Obligations 750,963 $ - $ 497,062 $ 1,248,025 $ U.S. Agency Securities 744,298 5,363,846 746,017 6,854,161 Certificates of Deposit 495,748 1,946,623 497,024 2,939,395 Local Agency Investment Fund (LAIF) 3,359,284 - - 3,359,284 Medium Term Notes - 248,779 - 248,779
Local Agency Bonds 377,860 1,772,049 1,654,013 3,803,922 CAMP Pool 483,372 - - 483,372
Investment held by Bond Trustee:
Money Market Mutual Funds 273 - - 273
Total 6,211,798 $ 9,331,297 $ 3,394,116 $ 18,937,211 $
Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating required by (where applicable) the California Government Code, the City’s investment policy, or debt agreements, and the actual rating, by Standards and Poor, as of fiscal year end for each investment type:
Minimum
Legal Not
Investment Type Total Rating Rated AAA AA+ A+ AAAm
U.S. Treasury Obligations 1,248,025 $ N/A - $ 1,248,025 $ - $ - $ - $ U.S. Agency Securities 6,854,161 N/A - 6,854,161 - - -
Certificates of Deposit 2,939,395 N/A 2,939,395 - - - - Local Agency Investment Fund (LAIF) 3,359,284 Not Rated 3,359,284 - - - - Medium Term Notes 248,779 A - - - 248,779 -
Local Agency Bonds 3,803,922 N/A - - 3,803,922 - -
CAMP Pool 483,372 Not Rated - - - - 483,372
Investment held by Bond Trustee:
Money Market Mutual Funds 273 N/A - - 273 - -
Totals 18,937,211 $ 6,298,679 $ 8,102,186 $ 3,804,195 $ 248,779 $ 483,372 $
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-44-
3) CASH AND INVESTMENTS, (CONTINUED)
D) Risk Disclosures, (Continued)
Concentration of Credit Risk
The City’s investment policy imposes restrictions on the percentage that the City can invest in certain types of investments. As of June 30, 2025, in accordance with GASB Statement No. 40 requirements, the City is exposed to concentration of credit risk whenever they have invested more than 5% of their total investments in any one issuer.
Investments in any one issuer (other than U.S. treasury securities, mutual funds, and external investment pools) that represent 5% or more of total City investments are as follows:
Issuer
Reported
amount
Percent of
portfolio
Federal Home Loan Bank 6,941,601 $ 29%
Federal Home Loan Mortgage Corporation 1,494,272 6%
Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., brokerdealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code requires that a financial institution secure deposits made by state or local governmental units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the governmental unit). The market value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the public agencies. California law also allows financial institutions to secure deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits. The City’s investment policy does not contain any additional provisions that would limit the exposure to custodial credit risk for deposits. However, the policy does stipulate that mortgage collateral cannot be used to secure deposits, and that the use of a third-party bank trust department is to function as the City’s safekeeping agent for investments. At June 30, 2025, City deposits (bank balances) were insured by the Federal Depository Insurance Corporation or collateralized as required under California Law.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-45-
3) CASH AND INVESTMENTS, (CONTINUED)
D) Risk Disclosures, (Continued)
Fair Value Hierarchy
The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs.
The City has the following recurring fair value measurements as of June 30, 2025:
Level
Investments Totals 1 2 Uncategorized
U.S. Treasury Obligations 1,248,025 $ 1,248,025 $ - $ - $ U.S. Agency Securities 6,854,161 6,854,161 - -
Certificates of Deposit 2,939,395 - 2,939,395 -
Agency Investment Fund (LAIF) 3,359,284 - - 3,359,284
Medium Term Notes 248,779 - 248,779 -
Local Agency Bonds 3,803,922 - 3,803,922 -
CAMP Pool 483,372 - - 483,372
Investment held by Bond Trustee:
Money Market Mutual Funds 273 273 - -
Totals 18,937,211 $ 8,102,459 $ 6,992,096 $ 3,842,656 $ Deposits and securities classified in Level 1 of the fair value hierarchy are valued using prices quoted in active markets for those securities. Federal Agency Securities classified in Level 2 of the fair value hierarchy are valued using institutional bond quotes.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-46-
4) INTERFUND TRANSACTIONS
A) Receivables/Payables
The purpose of the interfund transactions is to make short-term interfund loans from the General Fund to other funds. These interfund loans are to provide for negative cash balances at year-end and/or operating cash flow. Due to/from amounts are short-term financing, which are paid within one year.
Receivable Fund Amount Payable Fund Amount
General Fund 2,559,421 $ Nonmajor Fund:
Community Development
Block Grant 210,000 $
Internal Service Fund:
Technology Replacement 365,100
Facilities, Streets, Parks and
Pool Capital Expenditures 1,970,000
Self-Insurance Trust 14,321
$ 2,559,421 2,559,421 $
B) Transfers In/Out
Transfers Out
Nonmajor
General Governmental
Transfers In Fund Funds Total
General Fund - $ 425,000 $ 425,000 $
Nonmajor Governmental Funds 205,000 - 205,000
Internal Service Funds 2,475,000 - 2,475,000
Total 2,680,000 $ 425,000 $ 3,105,000 $
The transfer from nonmajor governmental funds to the General Fund for street-related maintenance, and public and traffic safety expenditures paid out of the General Fund.
The transfers from the General Fund to nonmajor governmental funds were to support building improvements and for annual debt service payments.
The transfers from the General Fund to the internal service funds were to support facilities, streets and park projects, in addition to support for insurance, claims and workers' compensation.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-47-
5) CAPITAL ASSETS
A summary of changes in the Governmental Activities capital assets for the fiscal year ended June 30, 2025 are as follows:
Balance Balance
Description June 30, 2024 Additions Deletions June 30, 2025 Non-depreciable:
Land 5,917,715 $ - $ - $ 5,917,715 $
Construction in process 3,634,502 6,755,553 (6,222,322) 4,167,733 Total Non-depreciable 9,552,217 6,755,553 (6,222,322) 10,085,448 Depreciable/amortizable:
Buildings and improvements 2,432,668 4,377,070 - 6,809,738 Right-to-use assets - buildings 400,150 - - 400,150
Infrastructure - road system 17,494,802 2,177,723 - 19,672,525 Equipment 2,371,175 - (230,206) 2,140,969
Right-to-use - equipment 157,085 - - 157,085
Right-to-use - subscriptions - 116,697 - 116,697
Vehicles 1,444,246 92,539 (889,545) 647,240
Right-to-use assets - vehicles 527,552 371,231 (35,083) 863,700 Total Depreciable Capital Assets 24,827,678 7,135,260 (1,154,834) 30,808,104 Less accumulated depreciation/amortization for:
Buildings and improvements (1,672,731) (73,098) - (1,745,829) Right-to-use assets - buildings (177,844) (133,383) - (311,227) Infrastructure - road system (3,783,127) (356,824) - (4,139,951) Equipment (1,157,548) (191,080) 212,596 (1,136,032)
Right-to-use assets - equipment (13,090) (31,417) - (44,507) Right-to-use - subscriptions - - - -
Vehicles (1,164,115) (122,007) 749,222 (536,900)
Right-to-use assets - vehicles (179,896) (156,342) 28,261 (307,977) Total Accumulated Depreciation/Amortization (8,148,351) (1,064,151) 990,079 (8,222,423) Total Depreciable/Amortizable Capital Assets, Net 16,679,327 6,071,109 (164,755) 22,585,681 Total Capital Assets, Net 26,231,544 $ 12,826,662 $ (6,387,077) $ 32,671,129 $ Depreciation/amortization expense was charged to governmental activities as follows:
Internal
General Service Total
General government 115,441 $ - $ 115,441 $
Public safety 268,388 - 268,388
Community development 77,466 - 77,466
Recreation and community services 95,944 - 95,944
Public works 127,056 - 127,056
Internal Service Fund - 379,856 379,856
Totals 684,295 $ 379,856 $ 1,064,151 $
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-48-
6) COMPENSATED ABSENCES
The following is a summary of changes in compensated absences for the year ended June 30, 2025 is as follows:
Balance Net Balance Due Within
June 30, 2024 Change June 30, 2025 One Year
Compensated absences 614,673 $ 494,918 $ 1,109,591 $ 357,318 $ There is no repayment schedule for compensated absences. Employee leave benefits are payable to employees upon usage or termination. The City’s policies relating to the payment of these benefits are discussed in Note 1. The liability for compensated absences is typically liquidated through the General Fund.
7) LONG-TERM DEBT
The following is a summary of changes in Governmental Activities long-term debt for the year ended June 30, 2025:
Balance Balance Due Within
June 30, 2024 Additions Deletions June 30, 2025 One Year 2015 Certificates of Participation 3,075,000 $ - $ (90,000) $ 2,985,000 $ 95,000 $ Unamortized bond premium 96,417 - (4,352) 92,065 -
Total 3,171,417 $ - $ (94,352) $ 3,077,065 $ 95,000 $
Other Long-term Liabilities:
Lease Payable – Police Vehicles 382,407 $ 371,231 $ (144,998) $ 608,640 $ 179,008 $ Lease Payable – Warehouse 229,558 - (135,602) 93,956 93,956 Lease Payable – Camera 127,070 - (30,700) 96,370 31,401 Subscriptions Payable - 116,697 (30,368) 86,329 31,292
Total 739,035 $ 487,928 $ (341,668) $ 885,295 $ 335,657 $ A) 2015 Certificates of Participation
On September 1, 2015, the City issued the 2015 Certificates of Participation in the amount of $3,685,000, as a public offering, to refund the outstanding balance of the 2006 (Laurel Park Acquisition) Certificates of Participation in an advanced refunding transaction, and to finance the design, acquisition, and construction of certain capital improvement projects. There are no finance-related consequences related to significant events of default or termination, and there are no acceleration clauses. There are no assets pledged as collateral, no required reserve, and no unused lines of credit. Interest on the bonds is payable semiannually on October 1 and April 1, commencing April 1, 2016, at rates which range from 2.00% to 5.00%.
Principal payments begin October 1, 2017 and continue October 1 of each year through October 1, 2045. The outstanding balance as of June 30, 2025 is $2,985,000.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-49-
7) LONG-TERM DEBT, (CONTINUED)
A) 2015 Certificates of Participation, (Continued)
The annual debt service requirements on these bonds are as follows:
Year Ending
June 30, Principal Interest Total
2026 95,000 $ 112,194 $ 207,194 $
2027 100,000 107,319 207,319
2028 105,000 103,244 208,244
2029 110,000 100,019 210,019
2030 110,000 96,650 206,650
2031-2035 615,000 424,278 1,039,278
2036-2040 740,000 298,600 1,038,600
2041-2045 905,000 134,500 1,039,500
2046 205,000 4,100 209,100
Total 2,985,000 $ 1,380,904 $ 4,365,904 $
B) Leases Payable
The City has entered into leases as a Lessee for use of various vehicles, equipment and a warehouse. The initial lease liabilities were recorded in the range between $16,254 to $400,149. The City is required to make monthly fixed payments in the range between $519 to $12,000. As of June 30, 2025, the value of the lease liability is $798,966. The leases have an interest rate in the range between 5% to 16.2%. The various police vehicles and the warehouse have a five-year estimated useful life. The value of the right-to-use assets as of June 30, 2025 were $1,420,935 with accumulated amortization of $663,711, is included with buildings and vehicles which is detailed in Note 5.
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City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-50-
7) LONG-TERM DEBT, (CONTINUED)
B) Leases Payable, (Continued)
The following future principal and interest payments on the leases payable for June 30, 2025 are as follows:
Year Ending
June 30, Principal Interest Total
2026 304,365 $ 95,204 $ 399,569 $
2027 204,290 59,955 264,245
2028 151,998 34,820 186,818
2029 107,380 15,693 123,073
2030 30,933 2,458 33,391
Total 798,966 $ 208,130 $ 1,007,096 $
C) Subscriptions Payable
The City entered into various subscription agreements. The initial subscription liability was recorded in the amount of $116,697. The City is required to make annual fixed payments in the range between $10,800 to $11,910. As of June 30, 2025, the value of the lease liability is $86,329. The leases have an interest rate in the range between 2.999% to 3.067%. The subscriptions have an estimated useful life ranging from three to five years. The value of the right-to-use asset as of June 30, 2025 was $116,697 with accumulated amortization of $0, is included with buildings and vehicles which is detailed in Note 5.
The following future principal and interest payments on the subscription payable for June 30, 2025 are as follows:
Year Ending
June 30, Principal Interest Total
2026 31,292 $ 2,618 $ 33,910 $
2027 21,380 1,664 23,044
2028 22,095 684 22,779
2029 11,562 344 11,906
Total 86,329 $ 5,310 $ 91,639 $
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-51-
8) RETIREMENT PLANS
A) General Information about the Pension Plans
Plan Descriptions
All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing Multiple-Employer Defined Benefit Pension Plan (Plan or PERF C) administered by the California Public Employees’ Retirement System (CalPERS.) The Plan consists of a miscellaneous pool and a safety pool (also referred to as “risk pools”), which are comprised of individual employer miscellaneous and safety rate plans, respectively. Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous pools. Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under generally accepted accounting principles. Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools.
The City participates in four rate plans (two miscellaneous and two safety). Benefit provisions under the Plan are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions and membership information that can be found on the CalPERS’ website, at www.calpers.ca.gov.
Benefits Provided
CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of fulltime employment. Members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 5 years of service. The death benefit is one of the following: the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost-of-living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law.
The Plan operates under the provisions of the California Public Employees’ Retirement Law (PERL), the California Public Employees’ Pension Reform Act of 2013 (PEPRA), and the regulations, procedures and policies adopted by the CalPERS Board of Administration.
The Plan’s authority to establish and amend the benefit terms are set by the PERL and PEPRA, and may be amended by the California state legislature and in some cases require approval by the CalPERS Board.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-52-
8) RETIREMENT PLANS, (CONTINUED)
A) General Information about the Pension Plans, (Continued)
The Plans’ provisions and benefits in effect at June 30, 2025, are summarized as follows:
Hire date
Prior to
January 1, 2013
On or after
January 1, 2013
Benefit formula 2.7% @ 55 2.0% @ 62
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age 50-67 52-67
Monthly benefits, as a % of eligible compensation 2.0% to 2.7% 1.0% to 2.5% Required employer contribution rates 16.02% 7.87%
Hire date
Prior to
January 1, 2013
On or after
January 1, 2013
Benefit formula 3.0% @ 50 2.7% @57
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age 50 50-57
Monthly benefits, as a % of eligible compensation 3.0% 2.0% to 2.7% Required employer contribution rates 27.32% 13.76%
Miscellaneous
Safety
Contributions
Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer contribution rates for all public employers are determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate.
The total plan contributions are determined through CalPERS’ annual actuarial valuation process. 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 employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.
Employer contribution rates may change if plan contracts are amended. Payments made by the employer to satisfy contribution requirements that are identified by the pension plan terms as plan member contribution requirements are classified as plan member contributions. Employer Contributions to the Plan for the fiscal year ended June 30, 2025 were $3,525,934.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-53-
8) RETIREMENT PLANS, (CONTINUED)
B) Net Pension Liability
The City’s net pension liability for the Plan is measured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability of the Plan is measured as of June 30, 2024, using an annual actuarial valuation as of June 30, 2023 rolled forward to June 30, 2024 using standard update procedures. A summary of principal assumptions and methods used to determine the net pension liability is as follows.
Actuarial Methods and Assumptions Used to Determine Total Pension Liability The collective total pension liability for the June 30, 2024 measurement period was determined by an actuarial valuation as of June 30, 2023, with update procedures used to roll forward the total pension liability to June 30, 2024. The collective total pension liability was based on the following assumptions:
Valuation Date June 30, 2023
Measurement Date June 30, 2024
Actuarial Cost Method Entry Age Actuarial Cost Method
Asset Valuation Method Fair Value of Assets
Actuarial Assumptions:
Discount Rate 6.90%
Inflation 2.30%
Salary Increases Varies by Entry Age and Service
Mortality Rate Table (1) Derived using CalPERS' membership data for all funds
Post Retirement Benefit Increase Contract COLA up to 2.30% until Purchasing Power Protection Allowance floor on
purchasing power applies, 2.30% thereafter.
(1) The mortality table used was developed based on CalPERS-specific data. The rates incorporate Generational Mortality to capture ongoing mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries. For more details on this table, please refer to the 2021 experience study report from November 2021 that can be found on the CalPERS website.
Long-term Expected Rate of Return
The long-term expected rate of return on pension plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-54-
8) RETIREMENT PLANS, (CONTINUED)
B) Net Pension Liability, (Continued)
In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations. Using historical returns of all of the funds’ asset classes, expected compound (geometric) returns were calculated over the next 20 years using a building-block approach. The expected rate of return was then adjusted to account for assumed administrative expenses of 10 Basis points.
The expected real rates of return by asset class are as follows:
Asset Class
Assumed
Asset
Allocation
Real
Return1,2
Global equity - cap-weighted 30.00% 4.54%
Global equity - non-cap-weighted 12.00% 3.84%
Private equity 13.00% 7.28%
Treasury 5.00% 0.27%
Mortgage-backed securities 5.00% 0.50%
Investment grade corporates 10.00% 1.56%
High yield 5.00% 2.27%
Emerging market debt 5.00% 2.48%
Private debt 5.00% 3.57%
Real assets 15.00% 3.21%
Leverage (5.00%) (0.59%)
2 Figures are based on the 2021-22 Asset Liability Management study. 1 An expected inflation of 2.30% used for this period.
Discount Rate
The discount rate used to measure the total pension liability for PERF C was 6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members.
Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-55-
8) RETIREMENT PLANS, (CONTINUED)
B) Net Pension Liability, (Continued)
Subsequent Events
There were no subsequent events that would materially affect the results presented in this disclosure.
Pension Plan Fiduciary Net Position
Information about the pension plan’s assets, deferred outflows of resources, liabilities, deferred inflows of resources, and fiduciary net position are presented in CalPERS’ audited financial statements, which are publicly available reports that can be obtained at CalPERS’ website, at www.calpers.ca.gov. The plan’s fiduciary net position and additions to/deductions from the plan’s fiduciary net position have been determined on the same basis used by the pension plan, which is the economic resources measurement focus and the accrual basis of accounting. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. Investments are reported at fair value.
C) Proportionate Share of Net Pension Liability
The following table shows the City’s proportionate share of the Plan’s net pension liability over the measurement period.
Plan Total Plan Fiduciary Net Pension
Pension Liability Net Position Liability
(a) (b) (c) = (a) - (b)
Balance at: 6/30/2023 (VD) 86,341,369 $ 59,038,115 $ 27,303,254 $ Balance at: 6/30/2024 (MD) 89,120,937 62,374,545 26,746,392 Net Changes during 2023-24 2,779,568 $ 3,336,430 $ (556,862) $ Valuation Date (VD), Measurement Date (MD)
Increase (Decrease)
The City’s proportion of the net pension liability was determined by CalPERS using the output from the Actuarial Valuation System and the fiduciary net position, as provided in the CalPERS Public Agency Cost-Sharing Allocation Methodology Report, which is a publicly available report that can be obtained at CalPERS’ website, at www.calpers.ca.gov.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-56-
8) RETIREMENT PLANS, (CONTINUED)
C) Proportionate Share of Net Pension Liability, (Continued) The City’s proportionate share of the net pension liability for the miscellaneous and safety Plan as of the June 30, 2023 and 2024 measurement dates was as follows:
Miscellaneous Safety
Proportion – June 30, 2023 0.2490% 0.1987%
Proportion – June 30, 2024 0.2531% 0.1990%
Change – Increase (Decrease) 0.0041% 0.0003%
Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate
The following presents the City’s proportionate share of the net pension liability of the Plan as of the measurement date, calculated using the discount rate of 6.90 percent, as well as what the net pension liability would be if it were calculated using a discount rate that is 1 percentage-point lower (5.90 percent) or 1 percentage-point higher (7.90 percent) than the current rate:
Discount Rate Current Discount Rate
-1% Discount Rate +1%
Measurement Date (5.90%) (6.90%) (7.90%)
Proportion – June 30, 2023 39,074,445 $ 27,303,254 $ 17,651,232 $ Proportion – June 30, 2024 38,856,247 26,746,392 16,814,709 Change – Increase (Decrease) (218,198) $ (556,862) $ (836,523) $ Amortization of Deferred Outflows and Deferred Inflows of Resources Gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time.
The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to pensions and are to be recognized in future pension expense.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-57-
8) RETIREMENT PLANS, (CONTINUED)
C) Proportionate Share of Net Pension Liability, (Continued) The amortization period differs depending on the source of the gain or loss:
Net difference between
projected and actual earnings
on pension plan investments
5-year straight-line amortization
All other amounts Straight-line amortization over the expected average remaining service lives (EARSL) of all members that
are provided with benefits (active, inactive and
retired) as of the beginning of the measurement
period
D) Pension Liabilities, Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pension
As of the start of the measurement period (July 1, 2023), the City’s net pension liability was $27,303,254. For the measurement period ending June 30, 2023 (the measurement date), the City incurred a pension expense of $4,313,739. The City’s net pension liability is typically liquidated through the General Fund.
As of June 30, 2025, the City has deferred outflows and deferred inflows of resources related to pensions as follows:
Deferred Outflows Deferred Inflows
of Resources of Resources
Change of assumptions 672,000 $ - $
Differences between expected and actual experience 2,242,107 79,784 Net difference between projected and annual earnings on 1,405,807 retirement plan investments -
Changes in proportion and differences between City
contributions and proportionate share of contributions 98,415.00 905,106 Changes in employer's proportion 148,258 737,170
City contributions subsequent to the measurement date 3,525,934 - Total 8,092,521 $ 1,722,060 $
The amounts above are net of outflows and inflows recognized in the 2023-24 measurement period expense. Contributions subsequent to the measurement date of $3,525,934 reported with deferred outflows of resources will be recognized as a reduction of the net pension liability in the upcoming fiscal year.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-58-
8) RETIREMENT PLANS, (CONTINUED)
D) Pension Liabilities, Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pension, (Continued)
Other amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in future pension expense as follows:
Fiscal Year Deferred Outflows/(Inflows) of Resources
Ending June 30, Miscellaneous Safety Total
2026 226,188 $ 634,025 $ 860,213 $
2027 1,374,852 1,413,900 2,788,752
2028 (134,788) (188,272) (323,060)
2029 (241,455) (239,923) (481,378)
2030 - - -
Thereafter - - -
Total 1,224,797 $ 1,619,730 $ 2,844,527 $
E) Payable to the Pension Plan
At June 30, 2025, the City reported a payable of $0 for the outstanding amount of contributions to the pension plan required for the year then ended
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-59-
9) OTHER POST-EMPLOYMENT BENEFIT (OPEB) PLAN
A) Plan Description
In addition to providing pension benefits, the City provides certain health care benefits, through a single- employer OPEB Plan (the Plan), for retired employees in accordance with a City Council resolution. Substantially, all the City’s employees become eligible for those benefits if they reach normal retirement age while working for the City. Those and similar benefits for active employees are provided through PERS whose premiums are based on the benefits paid during the year.
Retiree health care coverage is segregated into two tiers as follows:
Tier 1 – Employees Hired Before August 1, 1994(1) receive one of the following:
Miscellaneous and Safety Employees with 10 years of service with the City, with a regular service retirement, shall be eligible to receive 100% of the monthly benefit applicable towards the employee and one dependent, provided that employee plus one dependent coverage was in effect upon the date of retirement, up to Medicare age, and up to $300 per month thereafter for life.
Employees age fifty (50) or over received up to $300 per month for life.
Tier 2 – Employees Hired on or After August 1, 1994(1) receive one of the following:
Miscellaneous Employees with at least 15 years of continuous service with the City, and have reached the age of fifty-five (55) shall be eligible to receive 100% of the monthly benefit applicable towards the employee and one dependent, provided that employee plus one dependent coverage was in effect upon the date of retirement, up to Medicare age, and up to $300 per month thereafter for life.
Safety Employees with 10 years of service with the City shall be eligible to receive 50% of the monthly benefit applicable towards the employee and one dependent, if employee plus one dependent coverage was in effect upon the date of retirement. The percentage increases by 5% per year to 100% at 20 years of service up to Medicare age, and up to $300 per month thereafter for life.
(1) Applies to police employees hired after January 1, 1995.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-60-
9) OTHER POST-EMPLOYMENT BENEFIT (OPEB) PLAN, (CONTINUED) B) Employees Covered
As of the June 30, 2024 actuarial valuation, the following current and former employees were covered by the benefit terms under the Plan:
Active 69
Inactive employees or beneficiaries currently receiving benefits 45 Total 114
C) Contributions
The contribution requirements of plan members and the City are established and may be amended by the City Council, and/or the employee associations The City is currently funding this OPEB obligation based on a pay-as-you-go basis. For the measurement date ended June 30, 2025, the City made no contributions to the plan, which would be recognized as a reduction of the total OPEB liability. The total OPEB liability is typically liquidated through the General Fund.
D) Actuarial Methods and Assumptions
The City’s total OPEB liability was measured as of June 30, 2025 and was determined by an actuarial valuation dated June 30, 2024, based on the following actuarial methods and assumptions:
Actuarial Cost Method Entry Age Normal
Actuarial Assumptions:
Discount Rate 5.20%
Inflation 2.50%
Salary Increases 2.75% per year
Investment Rate of Return N/A; OPEB plan is unfunded
Mortality Rate 2021 CalPERS Mortality for Safety Employees, Miscellaneous and Schools Employees
Pre-Retirement Turnover 2021 CalPERS Turnover rate table for Police and Miscellaneous Employees
Healthcare Trend Rate 4.00% per year
E) Discount Rate
The discount rate used to measure the total OPEB liability was 5.20 percent. The discount rate is based on the Bond Buyer 20 Bond Index. The City does not participate in a trust fiduciary fund.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-61-
9) OTHER POST-EMPLOYMENT BENEFIT (OPEB) PLAN, (CONTINUED) F) Changes in the Total OPEB Liability
The changes in the Total OPEB liability for the Plan are as follows:
Increase
(Decrease)
Total OPEB
Liability/(Assets)
Balance at June 30, 2024 6,304,746 $
Changes recognized over the measurement period:
Service cost 409,173
Interest 247,741
Changes of assumptions (814,781)
Benefit payments (411,004)
Net Changes (568,871)
Balance at June 30, 2025 5,735,875 $
G) Sensitivity of the Total OPEB Liability to Changes in the Discount Rate The following presents the Total OPEB liability of the City if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2025:
Current
1% Decrease Discount Rate 1% Increase
$ 5,735,875 6,371,735 $ 5,269,580 $
H) Sensitivity of the Total OPEB Liability to Changes in the Health Care Cost Trend Rates The following presents the Total OPEB liability of the City if it were calculated using health care cost trend rates that are one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2025:
1% Decrease Cost Trend Rates 1% Increase
$ 5,735,875 5,228,484 $ 6,274,371 $
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-62-
9) OTHER POST-EMPLOYMENT BENEFIT (OPEB) PLAN, (CONTINUED) I) OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB For the fiscal year ended June 30, 2025, the City recognized OPEB expense of $696,506. At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Change in assumptions 707,680 $ (1,510,240) $
Difference between expected and
actual experience 723,927 (487,102)
Total 1,431,607 $ (1,997,342) $
Amounts reported as deferred inflows of resources related to OPEB will be recognized as OPEB expense as follows:
Year Ending
June 30, Amount
2026 39,592 $
2027 10,402
2028 (192,761)
2029 (196,333)
2030 (79,412)
Thereafter (147,223)
Total (565,735) $
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-63-
10) JOINT VENTURES
A) Orange County Fire Authority
In January 1995, the City of Los Alamitos entered into a joint powers agreement with 17 other cities within the County of Orange to create the Orange County Fire Authority (Authority). The purpose of the Authority is to provide for mutual fire protection, prevention and suppression services, and related and incidental services including, but not limited to emergency medical and transport services, as well as providing facilities and personnel for such services. The effective date of formation was March 1, 1995. Since the creation of the Authority, five additional cities have joined the Authority as members. The Authority’s governing board consists of one representative from each city and two from the County.
The operations of the Authority are funded with structural fire fees collected by the County through the property tax roll for the unincorporated area and on behalf of all member cities except for eight cities. The County pays all structural fire fees it collects to the Authority. The eight cities for which the County does not collect structural fire fees are considered “cash contract cities” and, accordingly, make cash contributions based on the Authority’s annual budget.
Upon dissolution of the Authority, all surplus money and property of the Authority will be conveyed or distributed to each member in proportion to all funds provided to the Authority by that member or by the County on behalf of that member during its membership. The City has a financial interest in the Authority; however, it does not have an equity interest or an ongoing financial responsibility. Financial statements of the Authority may be obtained from its office at Post Office Box 57115, Irvine, California 92619.
B) West Communications Financing Authority
The West Communications Financing Authority was established December 23, 1996, pursuant to a Joint Exercise of Powers Agreement by the Cities of Los Alamitos, Seal Beach and Cypress for the purpose of operating a public safety communications center.
The Board of Directors is comprised of three elected officials, one designated by each participating City. Each Director has one vote over budgeting and financial matters. The Authority is a public entity separate from the Cities and is not included in the financial statements of those entities.
Each City pays a contractual fee to the Authority which consists of personal costs, capital expenditures and reserves to fund accrued employee leave and equipment purchases. The contractual fee remains stable from year to year. In 2024-2025, the City of Los Alamitos paid $768,827 to the Authority. Financial information for the Authority may be obtained from the City of Cypress.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-64-
10) JOINT VENTURES, (CONTINUED)
C) Integrated Law and Justice Agency for Orange County
In May 2006, the City of Los Alamitos entered into a joint powers agreement with 22 other agencies within the County of Orange to create the Integrated Law and Justice Agency for Orange County. The purpose of the Agency is to facilitate the integration and sharing of criminal justice information for the benefit of the lands and inhabitants within their respective boundaries. The Agency’s governing board consists of six Municipal Police Chiefs, each elected for a three-year term by the Orange County Chiefs & Sheriff’s Association. The operations of the Agency are funded by grant awards and annual budget appropriations from each member agency. Upon dissolution of the Agency, all surplus money and property of the Agency will be conveyed or distributed to each member in proportion to all funds provided to the Agency by that member. The City has a financial interest in the Authority; however, it does not have an equity interest. Also, the City has an ongoing financial responsibility to the Agency for approximately $3,000 per year.
Financial information for this arrangement may be obtained from the City of Los Alamitos. 11) SELF-INSURANCE PROGRAM
Effective July 1, 2016, the City rescinded its participation in the California Joint Power Insurance Authority (CJPIA) and joined the California State Association of Counties Excess Insurance Authority (EIA). Beginning July 1, 2016, excess insurance coverage for General Liability and Workers’ Compensation was provided through the EIA with self-insured retentions of $100,000 and $125,000 per occurrence for each respective program. The EIA provides coverage up to $25 million per occurrence for General Liability and up to the statutory limit for Workers’ Compensation.
The City established a Self-Insurance Fund (an internal service fund) to account for and finance its uninsured risk of loss when it became a member of EIA for liability, master crime, and workers’ compensation coverage. All funds of the City participate in the program and make payments to the Self-Insurance Fund based on estimates of the amounts needed to pay prior and current year claims and to establish a reserve for catastrophe losses. The estimated claims liability of $169,920 reported at June 30, 2025, is based on the requirements of Governmental Accounting Standards Board Statement 10, which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. The above amount includes an estimate for incurred but not reported claims.
During the last three fiscal years none of the above programs of protection have had settlements or judgments that exceeded the insured coverage amount. There have been no significant reductions in insured liability coverage from the prior year.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-65-
11) SELF-INSURANCE PROGRAM, (CONTINUED)
Changes in the reported liability for the last two fiscal years are as follows:
Due Within Long
One-Year Term
Workers' General
Compensation Liability Total
Liability balance as of June 30, 2023 1,472,691 $ 151,098 $ 1,623,789 $ Claims and changes in estimates during
the fiscal year ended June 30, 2024 155,391 - 155,391
Claims payments during the fiscal year
ended June 30, 2024 (1,555,123) (56,137) (1,611,260)
Liability balance as of June 30, 2024 72,959 94,961 167,920 Claims and changes in estimates during
the fiscal year ended June 30, 2025 72,581 308,013 380,594 Claims payments during the fiscal year
ended June 30, 2025 (96,610) - (96,610)
Liability balance as of June 30, 2025 48,930 $ 402,974 $ 451,904 $ 12) COMMITMENTS AND CONTINGENCIES
The City is subject to litigation arising in the normal course of business.
The City has received various state and federal funds for specific purposes that are subject to review and audit by the grantor agencies. Although such audits could generate expenditure disallowances under terms of the grants, it is believed that any required reimbursements will not be material.
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-66-
13) CLASSIFICATION OF FUND BALANCES AND NET POSITION
At June 30, 2025, fund balances are classified in the governmental funds as follows:
Nonmajor
General Governmental
Fund Funds Total
Nonspendable
Prepaid costs 45,500 $ - $ 45,500 $
Due from employees 577 - 577
Total Nonspendable 46,077 - 46,077
Restricted
Transportation - 895,853 895,853
Cable television - 93,006 93,006
Public safety - 647,463 647,463
Community development - 189,387 189,387
Air quality - 213,615 213,615
Parks - 789,097 789,097
Total Restricted - 2,828,421 2,828,421
Committed
Capital projects 1,582,719 287,814 1,870,533
Total Committed 1,582,719 287,814 1,870,533
Assigned
Other post-employment benefits 500,000 - 500,000
PERS reserves 2,500,000 - 2,500,000
Capital projects - 405,323 405,323
Total Assigned 3,000,000 405,323 3,405,323
Unassigned 14,263,226 - 14,263,226
Totals 18,892,022 $ 3,521,558 $ 22,413,580 $
City of Los Alamitos
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
-67-
13) CLASSIFICATION OF FUND BALANCES AND NET POSITION, (CONTINUED) At June 30, 2025, the City reported the following net position classifications for governmental activities:
Net investment in capital assets:
Governmental capital assets, net 32,671,129 $
2015 Certificates of Participation (2,985,000)
Unamortized bond premium (92,065)
Deferred loss on refunding 84,863
Lease / subscription liability (885,295)
Capital-related liabilities: accounts
payable and retainage payable (249,908)
Total net investment in capital assets 28,543,724 $
Restricted for:
Transportation 895,853
Cable television 93,006
Public safety 647,463
Community development 189,387
Air quality 213,615
Parks 789,097
Total restricted 2,828,421
Unrestricted (10,846,776)
Total net position 20,525,369 $
14) PRIOR PERIOD RESTATEMENT
Beginning Net Position for Governmental Activities and beginning Fund Balance for the General Fund was restated due to initial funding of PARS trust, which was erroneously expensed in the prior year. The adjustment resulted in an increase of Net Position for Governmental Activities and Fund Balance for the General Fund as follows:
Governmental Funds
General Governmental
Fund Activities
Fund balance / Net position at July 1, 2024,
as originally reported 22,710,749 $ 21,091,397 $
Adjustment for correction
of an error 308,530 308,530
Fund balance / Net position at July 1, 2024,
as restated 23,019,279 $ 21,399,927 $
REQUIRED SUPPLEMENTARY
INFORMATION (UNAUDITED)
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City of Los Alamitos
Required Supplementary Information
Budgetary Comparison Schedule – General Fund
For the Year Ended June 30, 2025
-68-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Fund Balance, Beginning, as Restated $ 23,019,279 23,019,279 $ 23,019,279 $ - $ Revenues (Inflows):
Taxes 19,754,262 19,754,262 20,684,637 930,375
Licenses and permits 1,107,480 1,107,480 779,895 (327,585) Intergovernmental 11,000 11,000 56,581 45,581
Charges for services 876,116 876,116 924,660 48,544
Investment earnings 750,000 750,000 1,150,641 400,641
Fines and forfeitures 1,031,975 1,031,975 1,525,672 493,697 Miscellaneous 100,000 100,000 136,773 36,773
Transfers in 425,000 425,000 425,000 -
Amount Available for Appropriations 24,055,833 24,055,833 25,683,859 1,628,026 Charges to Appropriations (Outflows):
General government:
City council 35,957 45,957 54,732 (8,775)
City manager / City clerk 1,730,850 1,720,850 1,330,663 390,187 Administrative services 1,134,465 1,134,465 1,024,041 110,424 City attorney 226,000 286,000 340,080 (54,080)
Non-departmental 1,209,500 1,529,500 2,808,067 (1,278,567) Public safety 8,414,706 8,207,997 8,687,897 (479,900)
Community development 3,154,072 3,414,426 3,831,121 (416,695) Recreation and community services 3,279,826 3,334,826 3,153,125 181,701 Public works 2,335,675 3,773,029 4,471,257 (698,228)
Capital outlay 745,000 3,855,000 1,286,133 2,568,867
Debt service:
Principal 135,602 135,602 135,602 -
Interest and fiscal charges 8,398 8,398 8,398 -
Transfers out 1,605,000 2,680,000 2,680,000 -
Total Charges to Appropriations 24,015,051 30,126,050 29,811,116 314,934 Fund Balance, Ending 23,060,061 $ 16,949,062 $ 18,892,022 $ 1,942,960 $
City of Los Alamitos
Required Supplementary Information, (Continued)
Notes to the Budgetary Comparison Schedule
For the Year Ended June 30, 2025
-69-
1) Budgets and Budgetary Accounting Data
The City follows these procedures in establishing the budgetary data reflected in the financial statements:
1) The annual budget is adopted by the City Council and provides for the general operation of the City. The operating budget includes proposed expenditures and the means of financing them.
2) The City Council approves total budgeted appropriations and any amendments to appropriations throughout the year. This “appropriated budget” covers substantially all City expenditures. Actual expenditures may not exceed budgeted appropriations at the department level. The City’s fund structure includes the following departments: City Council, City Manager/City Clerk, Administrative Services, City Attorney, Public Safety, Community Development, Recreation and Community Services, and Public Works. The City Manager is authorized to transfer budgeted amounts between the accounts of any department. Budgets are controlled at the department level. Budget figures used in the financial statements are the final adjusted amounts, including any amendments to the budget during the fiscal year.
3) Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary integration in the Governmental Fund types during the fiscal year. Unexpended appropriations of the governmental funds automatically lapse at the end of the fiscal year. 4) Budgets for the General Fund, Special Revenue Funds, Debt Service Fund, and Capital Projects Funds, with the exception of the Capital Outlay Capital Projects Fund, are adopted on a basis substantially consistent with accounting principles generally accepted in the United States of America (USGAAP). Accordingly, actual revenues and expenditures can be compared with related budgeted amounts without any significant reconciling items. No budgetary comparisons are presented for the proprietary funds, as the City is not legally required to adopt a budget for this type of fund. 5) Under Article XIIIB of the California Constitution (the GANN Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations from proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller or returned to the taxpayers through revised tax rates or revised fee schedules, or an excess in one year may be offset against a deficit in the following year. For the fiscal year ended June 30, 2025, based on calculations by City management, proceeds of taxes did not exceed appropriations.
City of Los Alamitos
Required Supplementary Information, (Continued)
Notes to the Budgetary Comparison Schedule
For the Year Ended June 30, 2025
-70-
2) Excess of Expenditures over Appropriations
The following departments had expenditures that exceeded the adopted budget:
Budget Actual Variance
General Fund:
General Government:
City council 45,957 $ 54,732 $ (8,775) $
City attorney 286,000 340,080 (54,080)
Non-departmental 1,529,500 2,808,067 (1,278,567)
Public safety 8,207,997 8,687,897 (479,900)
Community development 3,414,426 3,831,121 (416,695)
Public works 3,773,029 4,471,257 (698,228)
Non-Major Special Revenue Funds:
CDBG Grant 350,000 530,807 (180,807)
Non-Major Capital Projects Funds:
Building Improvements Fund - 20,449 (20,449)
Non-Major Debt Service Funds:
Debt Service Fund 207,519 208,275 (756)
City of Los Alamitos
Required Supplementary Information, (Continued)
Schedule of City’s Proportionate Share of the Net Pension Liability and Related Ratios – Miscellaneous Plan
For the Year Ended June 30, 2025
-71-
Measurement Date
Proportion of the net
pension liability1
Proportionate share of
the net pension
liability Covered payroll
Proportionate share of
the net pension
liability as a
percentage of
covered payroll
Proportionate share of the
fiduciary net position as a
percentage of the Plan's
total pension liability
6/30/2015 0.090100% 6,181,642 $ 2,067,219 $ 299.03% 78.40% 6/30/2016 0.092200% 7,975,904 2,139,951 372.71% 74.06%
6/30/2017 0.092000% 9,127,183 2,067,777 441.40% 73.31%
6/30/2018 0.095300% 8,999,874 1,882,670 478.04% 75.26%
6/30/2019 0.166200% 9,688,016 1,883,036 514.49% 75.26%
6/30/2020 0.179100% 10,333,777 1,853,222 557.61% 75.10% 6/30/2021 0.174000% 7,053,615 1,802,686 391.28% 88.29%
6/30/2022 0.252528% 11,816,355 2,174,409 543.43% 76.68% 6/30/2023 0.248980% 12,449,986 2,726,295 456.66% 76.21% 6/30/2024 0.253050% 12,239,158 3,604,377 339.56% 78.08% 1 Proportion of the net pension liability represents the plan's proportion of PERF C, which includes both the Miscellaneous and Safety Risk Pools excluding the 1959 Survivors Risk Pool.
City of Los Alamitos
Required Supplementary Information, (Continued)
Schedule of City’s Proportionate Share of the Net Pension Liability and Related Ratios – Safety Plan
For the Year Ended June 30, 2025
-72-
Measurement Date
Proportion of the net
pension liability1
Proportionate share of
the net pension
liability Covered payroll
Proportionate share of
the net pension
liability as a
percentage of
covered payroll
Proportionate share of the
fiduciary net position as a
percentage of the Plan's
total pension liability
6/30/2015 0.092200% 6,328,706 $ 2,402,592 $ 263.41% 78.40% 6/30/2016 0.096500% 8,351,809 2,534,307 329.55% 74.06%
6/30/2017 0.098000% 9,719,511 2,655,464 366.02% 73.31%
6/30/2018 0.104700% 9,853,739 2,498,046 394.46% 75.26%
6/30/2019 0.171000% 10,731,155 2,287,551 469.11% 75.26% 6/30/2020 0.069500% 11,805,982 1,935,386 610.01% 75.10% 6/30/2021 0.164300% 7,488,379 2,184,348 342.82% 88.29%
6/30/2022 0.252528% 13,760,996 2,103,050 654.34% 76.68% 6/30/2023 0.198710% 14,853,268 2,416,863 614.57% 76.21% 6/30/2024 0.198980% 14,507,234 2,705,684 536.18% 78.08% 1 Proportion of the net pension liability represents the plan's proportion of PERF C, which includes both the Miscellaneous and Safety Risk Pools excluding the 1959 Survivors Risk Pool.
City of Los Alamitos
Required Supplementary Information, (Continued)
Schedule of City’s Contributions – Pension – Miscellaneous Plan For the Year Ended June 30, 2025
-73-
Fiscal Year
Actuarially
Determined
Contribution
Contributions in Relation to the
Actuarially Determined
Contribution
Contribution
Deficiency
(Excess) Covered payroll
Contributions as a
Percentage of
Covered Payroll
2015-2016 478,168 $ (478,168) $ - $ 2,139,951 $ 22.3%
2016-2017 575,534 (575,534) - 2,067,777 27.8%
2017-2018 607,715 (607,715) - 1,882,670 32.3%
2018-2019 706,647 (706,647) - 1,883,036 37.5%
2019-2020 878,063 (878,063) - 1,853,222 47.4%
2020-2021 902,971 (902,971) - 1,802,686 50.1%
2021-2022 1,016,424 (1,016,424) - 2,174,409 46.7%
2022-2023 1,169,151 (1,169,151) - 2,726,295 42.9%
2023-2024 653,699 (653,699) - 3,604,377 18.1%
2024-2025 1,500,707 (1,630,707) (130,000) 4,404,811 34.1% Notes to Schedule:
Change in Benefit Terms:
Change in Assumptions:
There were no changes to benefit terms that applied to all members of the Public Agency Pool. However, individual employers in the Plan may have provided a benefit improvement to their employees such as Golden Handshakes, service purchases, and other prior service costs. Employers that have done so may need to report this information as a separate liability in their financial statement as CalPERS considers such amounts to be separately financed employer-specific liabilities. These employers should consult with their auditors.
Additionally, the figures above do not include any liability impact that occurred after the June 30, 2023, valuation date, unless the liability impact is deemed to be material to the Public Agency Pool.
There were no assumption changes in 2023 or 2024. Effective with the June 30, 2021, valuation date (June 30, 2022, measurement date), the accounting discount rate was reduced from 7.15% to 6.90%. In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. In addition, demographic assumptions and the price inflation assumption were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions.
The accounting discount rate was 7.15% for measurement dates June 30, 2017, through June 30, 2021, and
7.65% for measurement dates June 30, 2015, through June 30, 2016.
City of Los Alamitos
Required Supplementary Information, (Continued)
Schedule of City’s Contributions – Pension – Safety Plan For the Year Ended June 30, 2025
-74-
Fiscal Year
Actuarially
Determined
Contribution
Contributions in Relation to the
Actuarially Determined
Contribution
Contribution
Deficiency
(Excess) Covered payroll
Contributions as a
Percentage of
Covered Payroll
2015-2016 748,750 $ (748,750) $ - $ 2,534,307 $ 29.5%
2016-2017 797,034 (797,034) - 2,655,464 30.0%
2017-2018 847,090 (847,090) - 2,498,046 33.9%
2018-2019 927,772 (927,772) - 2,287,551 40.6%
2019-2020 1,075,926 (1,075,926) - 1,935,386 55.6%
2020-2021 1,163,513 (1,163,513) - 2,184,348 53.3%
2021-2022 1,250,864 (1,250,864) - 2,103,050 59.5%
2022-2023 1,435,023 (1,435,023) - 2,416,863 59.4%
2023-2024 749,339 (749,339) - 2,705,684 27.7%
2024-2025 1,765,227 (1,895,227) (130,000) 2,909,119 60.7% Notes to Schedule:
Change in Benefit Terms:
Change in Assumptions:
There were no changes to benefit terms that applied to all members of the Public Agency Pool. However, individual employers in the Plan may have provided a benefit improvement to their employees such as Golden Handshakes, service purchases, and other prior service costs. Employers that have done so may need to report this information as a separate liability in their financial statement as CalPERS considers such amounts to be separately financed employer-specific liabilities. These employers should consult with their auditors.
Additionally, the figures above do not include any liability impact that occurred after the June 30, 2023, valuation date, unless the liability impact is deemed to be material to the Public Agency Pool.
There were no assumption changes in 2023 or 2024. Effective with the June 30, 2021, valuation date (June 30, 2022, measurement date), the accounting discount rate was reduced from 7.15% to 6.90%. In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. In addition, demographic assumptions and the price inflation assumption were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions.
The accounting discount rate was 7.15% for measurement dates June 30, 2017, through June 30, 2021, and
7.65% for measurement dates June 30, 2015, through June 30, 2016.
City of Los Alamitos
Required Supplementary Information, (Continued)
Schedule of Changes in the Net OPEB Liability and Related Ratios For the Year Ended June 30, 2025
-75-
Fiscal Year 2025 2024 2023 2022 2021
Total OPEB Liability
Service cost 409,173 $ 326,480 $ 309,238 $ 345,491 $ 333,552 $ Interest on the total OPEB liability 247,741 232,030 228,224 144,055 143,962 Experience (gains)/losses - 548,754 (394,896) 542,385 - Changes in assumptions (814,781) (8,106) (423,509) (973,560) 31,397 Benefit payments (411,004) (428,200) (442,236) (395,761) (383,006) Net change in total OPEB liability 670,958 (568,871) (723,179) (337,390) 125,905 Total OPEB liability - beginning 5,633,788 6,304,746 6,356,967 6,694,357 6,568,452 Total OPEB liability - ending (a) $ 6,304,746 5,735,875 $ 5,633,788 $ 6,356,967 $ 6,694,357 $ Covered-employee payroll(1) $ 5,574,641 5,574,641 $ 5,131,255 $ 4,277,459 $ 4,700,996 $ Total OPEB liability as a percentage of covered-employee payroll 102.89% 113.10% 109.79% 148.62% 142.40% Fiscal Year 2020 2019 2018
Total OPEB Liability
Service cost 192,736 $ 175,452 $ 170,756 $
Interest on the total OPEB liability 164,133 157,013 166,352 Experience (gains)/losses (1,087,077) - -
Changes in assumptions 2,824,825 100,644 -
Benefit payments (238,645) (237,974) (228,821)
Net change in total OPEB liability 195,135 1,855,972 108,287 Total OPEB liability - beginning 4,517,345 4,712,480 4,409,058 Total OPEB liability - ending (a) $ 4,712,480 6,568,452 $ 4,517,345 $ Covered-employee payroll(1) $ 4,380,716 4,502,169 $ 4,380,716 $ Total OPEB liability as a percentage of covered-employee payroll 145.90% 107.57% 103.12% Notes to Schedule:
* Historical information is required only for measurement for which GASB 75 is applicable.
Changes in assumptions: For 2025, the discount rate increased from 3.93% to 5.20% based on the Bond Buyer 20 Bond Index. For 2024, the discount rate increased from 3.86% to 3.93% based on the Bond Buyer 20 Bond Index. Assumed rates of retirement, termination, and mortality have been updated to align with those currently being used by the statewide pension systems. For 2023, the discount rate increased from 3.45% to 3.86% based on the municipal bond index. For 2022, the discount rate increased from 2.16% to 3.45% based on the updated municipal bond index. (1) Contributions to the OPEB plan are not based on a measure of pay, therefore covered employee payroll is used.
No assets are accumulated in a trust that meets the criteria of GASB 75 to pay related benefits.
SUPPLEMENTARY INFORMATION
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City of Los Alamitos
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
-76-
Special Revenue Funds
Community
Development Los Office
Block Alamitos of Traffic
Grant Measure M Television Safety
ASSETS
Cash and investments 271,518 $ 809,625 $ 132,285 $ 180,938 $ Receivables:
Due from other governments 127,869 53,817 3,136 444.00
Cash and investments - restricted - - - -
Total Assets 399,387 $ 863,442 $ 135,421 $ 181,382 $
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable - $ 2,721 $ 42,415 $ - $
Unearned revenues - - - -
Deposits payable - - - -
Due to other funds 210,000 - - -
Total Liabilities 210,000 2,721 42,415 -
Fund Balances:
Restricted 189,387 860,721 93,006 181,382
Committed - - - -
Assigned - - - -
Total Fund Balances (Deficit) 189,387 860,721 93,006 181,382 Total Liabilities and Fund Balances 399,387 $ 863,442 $ 135,421 $ 181,382 $
City of Los Alamitos
Combining Balance Sheet, (Continued)
Nonmajor Governmental Funds
June 30, 2025
-77-
Special Revenue Funds
Public State Law
Asset Safety Enforcement Air
Seizure Augmentation Agency Quality
ASSETS
Cash and investments 50,452 $ 61,305 $ 330,128 $ 209,457 $ Receivables:
Due from other governments - 24,205 - 4,158
Cash and investments - restricted - - - -
Total Assets 50,452 $ 85,510 $ 330,128 $ 213,615 $
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable - $ - $ - $ - $
Unearned revenues - - - -
Deposits payable 9 - - -
Due to other funds - - - -
Total Liabilities 9 - - -
Fund Balances:
Restricted 50,443 85,510 330,128 213,615
Committed - - - -
Assigned - - - -
Total Fund Balances (Deficit) 50,443 85,510 330,128 213,615 Total Liabilities and Fund Balances 50,452 $ 85,510 $ 330,128 $ 213,615 $
City of Los Alamitos
Combining Balance Sheet, (Continued)
Nonmajor Governmental Funds
June 30, 2025
-78-
Special
Revenue
Funds Capital Projects Funds
State Residential
Gas Park Building Streets/
Tax Development Improvement Alleys
ASSETS
Cash and investments 133,338 $ 789,097 $ 409,126 $ 7,354 $ Receivables:
Due from other governments 88,208 - - -
Cash and investments - restricted - - - -
Total Assets 221,546 $ 789,097 $ 409,126 $ 7,354 $
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 11,875 $ - $ 20,449 $ - $
Unearned revenues - - - -
Deposits payable - - - -
Due to other funds - - - -
Total Liabilities 11,875 - 20,449 -
Fund Balances:
Restricted - 789,097 - -
Committed 209,671 - - -
Assigned - - 388,677 7,354
Total Fund Balances (Deficit) 209,671 789,097 388,677 7,354 Total Liabilities and Fund Balances 221,546 $ 789,097 $ 409,126 $ 7,354 $
City of Los Alamitos
Combining Balance Sheet, (Concluded)
Nonmajor Governmental Funds
June 30, 2025
-79-
Capital Debt
Projects Service
Funds Fund
Total
Nonmajor
Traffic Debt Governmental
Improvement Service Funds
ASSETS
Cash and investments 250,054 $ 9,019 $ 3,643,696 $
Receivables:
Due from other governments - - 301,837
Cash and investments - restricted - 273 273
Total Assets 250,054 $ 9,292 $ 3,945,806 $
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable - $ - $ 77,460 $
Unearned revenues 136,779 - 136,779
Deposits payable - - 9
Due to other funds - - 210,000
Total Liabilities 136,779 - 424,248
Fund Balances:
Restricted 35,132 - 2,828,421
Committed 78,143 - 287,814
Assigned - 9,292 405,323
Total Fund Balances (Deficit) 113,275 9,292 3,521,558
Total Liabilities and Fund Balances 250,054 $ 9,292 $ 3,945,806 $
City of Los Alamitos
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
-80-
Special Revenue Funds
Community
Development Los Office
Block Alamitos of Traffic
Grant Measure M Television Safety
REVENUES
Taxes - $ - $ 14,220 $ - $
Intergovernmental 829,189 - - -
Investment earnings 5,187 27,073 1,767 4,792
Fines and forfeitures - - - 48,749
Program revenues - 342,832 - -
Miscellaneous - - 19,787 -
Total Revenues 834,376 369,905 35,774 53,541
EXPENDITURES
Current:
General government - - - -
Public works - - - -
Capital outlay 530,807 355,152 - -
Debt service:
Principal - - - -
Interest and fiscal charges - - - -
Total Expenditures 530,807 355,152 - -
Revenues Over (Under) Expenditures 303,569 14,753 35,774 53,541
OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers out - - - -
Total Other Financing Sources (Uses) - - - -
Change in Fund Balances 303,569 14,753 35,774 53,541
Fund Balances (Deficits), Beginning of Year (114,182) 845,968 57,232 127,841 Fund Balances, End of Year 189,387 $ 860,721 $ 93,006 $ 181,382 $
City of Los Alamitos
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances, (Continued)
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
-81-
Special Revenue Funds
Public State Law
Asset Safety Enforcement Air
Seizure Augmentation Agency Quality
REVENUES
Taxes - $ 137,673 $ - $ - $
Intergovernmental - - 194,663 20,005
Investment earnings 1,825 1,641 11,343 6,092
Fines and forfeitures - - - -
Program revenues - - - -
Miscellaneous 1,006 - - -
Total Revenues 2,831 139,314 206,006 26,097
EXPENDITURES
Current:
General government - - - -
Public works - - - -
Capital outlay - - - -
Debt service:
Principal - - - -
Interest and fiscal charges - - - -
Total Expenditures - - - -
Revenues Over (Under) Expenditures 2,831 139,314 206,006 26,097
OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers out - (105,000) (200,000) -
Total Other Financing Sources (Uses) - (105,000) (200,000) - Change in Fund Balances 2,831 34,314 6,006 26,097
Fund Balances (Deficits), Beginning of Year 47,612 51,196 324,122 187,518 Fund Balances, End of Year 50,443 $ 85,510 $ 330,128 $ 213,615 $
City of Los Alamitos
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances, (Continued)
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
-82-
Special
Revenue
Funds Capital Projects Funds
State Residential
Gas Park Building Streets/
Tax Development Improvement Alleys
REVENUES
Taxes 668,508 $ - $ - $ - $
Intergovernmental - - - -
Investment earnings 8,763 23,919 12,402 223
Fines and forfeitures - - - -
Program revenues - - - -
Miscellaneous - - - -
Total Revenues 677,271 23,919 12,402 223
EXPENDITURES
Current:
General government - - - -
Public works - - - -
Capital outlay 701,515 - 20,449 -
Debt service:
Principal - - - -
Interest and fiscal charges - - - -
Total Expenditures 701,515 - 20,449 -
Revenues Over (Under) Expenditures (24,244) 23,919 (8,047) 223
OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers out (120,000) - - -
Total Other Financing Sources (Uses) (120,000) - - -
Change in Fund Balances (144,244) 23,919 (8,047) 223
Fund Balances (Deficits), Beginning of Year 353,915 765,178 396,724 7,131 Fund Balances, End of Year 209,671 $ 789,097 $ 388,677 $ 7,354 $
City of Los Alamitos
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances, (Concluded)
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
-83-
Capital Debt
Projects Service
Funds Fund
Total
Nonmajor
Traffic Debt Governmental
Improvement Service Funds
REVENUES
Taxes - $ - $ 820,401 $
Intergovernmental - - 1,043,857
Investment earnings 7,580 - 112,607
Fines and forfeitures - - 48,749
Program revenues - - 342,832
Miscellaneous - - 20,793
Total Revenues 7,580 - 2,389,239
EXPENDITURES
Current:
General government - - -
Public works - - -
Capital outlay - - 1,607,923
Debt service:
Principal - 90,000 90,000
Interest and fiscal charges - 118,275 118,275
Total Expenditures - 208,275 1,816,198
Revenues Over (Under) Expenditures 7,580 (208,275) 573,041
OTHER FINANCING SOURCES (USES)
Transfers in - 205,000 205,000
Transfers out - - (425,000)
Total Other Financing Sources (Uses) - 205,000 (220,000) Change in Fund Balances 7,580 (3,275) 353,041
Fund Balances (Deficits), Beginning of Year 105,695 12,567 3,168,517 Fund Balances, End of Year 113,275 $ 9,292 $ 3,521,558 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Community Development Block Grant Special Revenue Fund
For the Year Ended June 30, 2025
-84-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance (Deficit), Beginning $ (114,182) (114,182) $ - $ Revenues (Inflows):
Intergovernmental 350,000 829,189 479,189
Investment earnings - 5,187 5,187
Amount Available for Appropriations 350,000 834,376 484,376 Charges to Appropriations (Outflows):
Capital outlay 350,000 530,807 (180,807)
Total Charges to Appropriations 350,000 530,807 (180,807) Fund Balance (Deficit), Ending (114,182) $ 189,387 $ 303,569 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Measure M Special Revenue Fund
For the Year Ended June 30, 2025
-85-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 845,968 845,968 $ - $
Revenues (Inflows):
Investment earnings 5,000 27,073 22,073
Program revenues 321,029 342,832 21,803
Amount Available for Appropriations 326,029 369,905 43,876 Charges to Appropriations (Outflows):
Capital outlay 640,000 355,152 284,848
Total Charges to Appropriations 640,000 355,152 284,848 Fund Balance, Ending 531,997 $ 860,721 $ 328,724 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Los Alamitos Television Special Revenue Fund
For the Year Ended June 30, 2025
-86-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 57,232 57,232 $ - $
Revenues (Inflows):
Taxes 18,000 14,220 (3,780)
Investment earnings 250 1,767 1,517
Miscellaneous - 19,787 19,787
Amount Available for Appropriations 18,250 35,774 17,524 Charges to Appropriations (Outflows):
General government 40,820 - 40,820
Total Charges to Appropriations 40,820 - 40,820
Fund Balance, Ending 34,662 $ 93,006 $ 58,344 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Office of Traffic Safety Special Revenue Fund
For the Year Ended June 30, 2025
-87-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 127,841 127,841 $ - $
Revenues (Inflows):
Investment earnings 500 4,792 4,292
Fines and forfeitures 12,000 48,749 36,749
Amount Available for Appropriations 12,500 53,541 41,041 Fund Balance, Ending 140,341 $ 181,382 $ 41,041 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Asset Seizure Special Revenue Fund
For the Year Ended June 30, 2025
-88-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 47,612 47,612 $ - $
Revenues (Inflows):
Investment earnings 50 1,825 1,775
Miscellaneous - 1,006 1,006
Amount Available for Appropriations 50 2,831 2,781
Fund Balance, Ending 47,662 $ 50,443 $ 2,781 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Public Safety Augmentation Special Revenue Fund
For the Year Ended June 30, 2025
-89-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 51,196 51,196 $ - $
Revenues (Inflows):
Taxes 141,885 137,673 (4,212)
Investment earnings 150 1,641 1,491
Amount Available for Appropriations 142,035 139,314 (2,721) Charges to Appropriations (Outflows):
Transfers out 105,000 105,000 -
Total Charges to Appropriations 105,000 105,000 -
Fund Balance, Ending 88,231 $ 85,510 $ (2,721) $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
State Law Enforcement Agency Special Revenue Fund
For the Year Ended June 30, 2025
-90-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 324,122 324,122 $ - $
Revenues (Inflows):
Intergovernmental 170,000 194,663 24,663
Investment earnings 1,600 11,343 9,743
Amount Available for Appropriations 171,600 206,006 34,406 Charges to Appropriations (Outflows):
Transfers out 200,000 200,000 -
Total Charges to Appropriations 200,000 200,000 -
Fund Balance, Ending 295,722 $ 330,128 $ 34,406 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Air Quality Special Revenue Fund
For the Year Ended June 30, 2025
-91-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning, As Restated $ 187,518 187,518 $ - $ Revenues (Inflows):
Intergovernmental 15,000 20,005 5,005
Investment earnings 700 6,092 5,392
Amount Available for Appropriations 15,700 26,097 10,397 Fund Balance, Ending 203,218 $ 213,615 $ 10,397 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
State Gas Tax Special Revenue Fund
For the Year Ended June 30, 2025
-92-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 353,915 353,915 $ - $
Revenues (Inflows):
Taxes 651,627 668,508 16,881
Investment earnings 1,400 8,763 7,363
Amount Available for Appropriations 653,027 677,271 24,244 Charges to Appropriations (Outflows):
Capital outlay 1,311,627 701,515 610,112
Transfers out 120,000 120,000 -
Total Charges to Appropriations 1,431,627 821,515 610,112 Fund Balance, Ending (424,685) $ 209,671 $ 634,356 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Park Development Capital Projects Fund
For the Year Ended June 30, 2025
-93-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 765,178 765,178 $ - $
Revenues (Inflows):
Investment earnings 4,000 23,919 19,919
Amount Available for Appropriations 4,000 23,919 19,919 Fund Balance, Ending 769,178 $ 789,097 $ 19,919 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Building Improvement Capital Projects Fund
For the Year Ended June 30, 2025
-94-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 396,724 396,724 $ - $
Revenues (Inflows):
Investment earnings 1,800 12,402 10,602
Amount Available for Appropriations 1,800 12,402 10,602 Charges to Appropriations (Outflows):
Capital outlay - 20,449 (20,449)
Total Charges to Appropriations - 20,449 (20,449)
Fund Balance, Ending 398,524 $ 388,677 $ (9,847) $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Residential Streets/Alleys Capital Projects Fund
For the Year Ended June 30, 2025
-95-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 7,131 7,131 $ - $
Revenues (Inflows):
Investment earnings 50 223 173
Amount Available for Appropriations 50 223 173
Fund Balance, Ending 7,181 $ 7,354 $ 173 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Traffic Improvement Capital Projects Fund
For the Year Ended June 30, 2025
-96-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 105,695 105,695 $ - $
Revenues (Inflows):
Charges for services 1,500 - (1,500)
Investment earnings 2,000 7,580 5,580
Amount Available for Appropriations 3,500 7,580 4,080
Fund Balance, Ending 109,195 $ 113,275 $ 4,080 $
City of Los Alamitos
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
Debt Service Fund
For the Year Ended June 30, 2025
-97-
Budgeted
Amounts Actual Variance with
Final Amounts Final Budget
Fund Balance, Beginning $ 12,567 12,567 $ - $
Revenues (Inflows):
Transfers in 205,000 205,000 -
Amount Available for Appropriations 205,000 205,000 -
Charges to Appropriations (Outflows):
Debt Service:
Principal 85,000 90,000 (5,000)
Interest and fiscal charges 122,519 118,275 4,244
Total Charges to Appropriations 207,519 208,275 (756)
Fund Balance, Ending 10,048 $ 9,292 $ (756) $
City of Los Alamitos
Combining Statement of Net Position
All Internal Service Funds
June 30, 2025
-98-
Facilities,
Police Streets, Parks SelfTechnology Capital and Pool Capital Insurance Garage Replacement Expenditures Expenditures Trust Total ASSETS
Current assets:
Cash and investments 4,292 $ 9 $ 14,799 $ 71 $ - $ 19,171 $ Accounts receivable - - - - 9,380 9,380
Total Current Assets 4,292 9 14,799 71 9,380 28,551
Noncurrent assets:
Capital assets - net of accumulated depreciation 931,222 116,697 112,578 317,977 - 1,478,474 Total Noncurrent Assets 931,222 116,697 112,578 317,977 - 1,478,474 Total Assets 935,514 116,706 127,377 318,048 9,380 1,507,025
LIABILITIES
Current liabilities:
Accounts payable 27,354 4,508 - 10,695 49,459 92,016
Accrued interest 1,279 - - - - 1,279
Due to other funds - 365,100 - 1,970,000 14,321 2,349,421 Claims and judgements - - - - 48,930 48,930
Leases and subscriptions payable 179,008 31,292 31,401 - - 241,701 Total Current Liabilities 207,641 400,900 31,401 1,980,695 112,710 2,733,347 Long-term liabilities:
Claims and judgements - - - - 402,974 402,974
Leases and subscriptions payable 429,632 55,037 64,969 - - 549,638 Total Long-term Liabilities 429,632 55,037 64,969 - 402,974 952,612 Total Liabilities 637,273 455,937 96,370 1,980,695 515,684 3,685,959
NET POSITION (DEFICIT)
Net investment in capital assets 322,582 30,368 16,208 317,977 - 687,135 Unrestricted (24,341) (369,599) 14,799 (1,980,624) (506,304) (2,866,069) Total Net Position 298,241 $ (339,231) $ 31,007 $ (1,662,647) $ (506,304) $ (2,178,934) $
City of Los Alamitos
Combining Statement of Revenues, Expenses, and Changes in Net Position All Internal Service Funds
For the Year Ended June 30, 2025
-99-
Facilities,
Police Streets, Parks SelfTechnology Capital and Pool Capital Insurance Garage Replacement Expenditures Expenditures Trust Total
OPERATING REVENUES
Charges for services:
Miscellaneous - $ - $ - $ - $ 80,077 $ 80,077 $
Total Operating Revenues - - - - 80,077 80,077
OPERATING EXPENSES
Supplies and materials 245,233 330,121 - - - 575,354
Outside services 128,101 202,437 - 1,690,391 - 2,020,929 Claims expense - - - - 1,478,491 1,478,491
Depreciation 341,099 - 31,417 7,340 - 379,856
Total Operating Expenses 714,433 532,558 31,417 1,697,731 1,478,491 4,454,630 Operating Loss (714,433) (532,558) (31,417) (1,697,731) (1,398,414) (4,374,553)
NON-OPERATING REVENUES (EXPENSES)
Loss of disposal of sales of capital assets (147,907) - - - - (147,907) Interest expense (111,712) (3,542) (2,900) - - (118,154) Total Non-operating Revenues (Expenses) (259,619) (3,542) (2,900) - - (266,061) INCOME BEFORE TRANSFERS (536,100) (974,052) (34,317) (1,697,731) (1,398,414) (4,640,614) Transfers in 700,000 400,000 - 675,000 700,000 2,475,000 Total Transfers 700,000 400,000 - 675,000 700,000 2,475,000 Change in Net Position (274,052) (136,100) (34,317) (1,022,731) (698,414) (2,165,614) Net Position, Beginning of Year 572,293 (203,131) 65,324 (639,916) 192,110 (13,320) Net Position, End of Year 298,241 $ (339,231) $ 31,007 $ (1,662,647) $ (506,304) $ (2,178,934) $
City of Los Alamitos
Combining Statement of Cash Flows
All Internal Service Funds
For the Year Ended June 30, 2025
-100-
Facilities,
Police Streets, Parks SelfTechnology Capital and Pool Capital Insurance Garage Replacement Expenditures Expenditures Trust Total
CASH FLOWS FROM OPERATING ACTIVITIES
Payments to suppliers and service providers (370,955) $ (672,348) $ - $ (1,752,353) $ (1,209,311) $ (4,004,967) $ Cash received from (payments to) others - - - - 1,583,779 1,583,779 Net Cash Provided by (Used for) Operating Activities (370,955) (672,348) - (1,752,353) 374,468 (2,421,188)
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES
Transfers in 700,000 400,000 - 675,000 700,000 2,475,000 Net borrowings (repayments) to other funds - 306,267 - 1,077,424 (1,074,468) 309,223 Net Cash Provided by Non-Capital
Financing Activities 700,000 706,267 - 1,752,424 (374,468) 2,784,223
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition and construction of capital assets (92,539) - - - - (92,539) Proceeds from sale of capital assets 15,535 - - - - 15,535 Principal paid on leases payable (144,998) (30,368) (30,700) - - (206,066) Interest paid on leases payable (111,712) (3,542) (2,900) - - (118,154) Net Cash Used for Capital and Related
Financing Activities (333,714) (33,910) (33,600) - - (401,224) Net increase (decrease) in cash and cash equivalents (4,669) 9 (33,600) 71 - (38,189) Cash and equivalents, beginning of year 8,961 - 48,399 - - 57,360 Cash and equivalents, end of year 4,292 $ 9 $ 14,799 $ 71 $ - $ 19,171 $
RECONCILIATION OF OPERATING LOSS TO NET CASH
PROVIDED BY (USED FOR) OPERATING ACTIVITIES
Operating loss (714,433) $ (532,558) $ (31,417) $ (1,697,731) $ (1,398,414) $ (4,374,553) $ Adjustments to reconcile operating loss to net cash
provided by (used for) operating activities:
Depreciation 341,099 - 31,417 7,340 - 379,856
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable - - - - 1,503,702 1,503,702 Increase (decrease) in accounts payable 2,379 (139,790) - (61,962) (14,804) (214,177) Increase (decrease) in claims and judgements - - - - 283,984 283,984 Total Adjustments 343,478 (139,790) 31,417 (54,622) 1,772,882 1,953,365 Net Cash Provided by (Used for) Operating Activities (370,955) $ (672,348) $ - $ (1,752,353) $ 374,468 $ (2,421,188) $
NONCASH INVESTING, CAPITAL AND FINANCING ACTIVITIES
Lease liability 371,231 $ 116,697 $ - $ - $ - $ 487,928 $ Lease acquisition (371,231) (116,697) - - - (487,928)
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STATISTICAL SECTION
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City of Los Alamitos
Statistical Section
For the Year Ended June 30, 2025
This part of the City of Los Alamitos’s Annual Comprehensive Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information say about the government’s overall financial health.
CONTENTS Page
Financial Trends: These schedules contain trend information to help the reader understands how the City’s financial performance and well-being has changed over time .......................................................................................... 101 Revenue Capacity: These schedules contain trend information to help the reader assesses the factors affecting the City’s most significant revenue source, property tax ................................................................................................................ 108 Debt Capacity: These schedules present information to help the reader assesses the affordability of the City’s current levels of outstanding debt and the City’s ability to issue additional debt in the future ........................... 115 Demographic and Economic Information: These schedules offer demographic and economic indicators to help the reader understand the environment within which the City’s financial activities take place ......................................................................... 118 Operating Information: These schedules contain service and infrastructure data to help the reader understand how the information in the City’s financial report relates to the services the City provides and the activities it performs ......................... 120
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City of Los Alamitos
Net Position by Component
Last Ten Fiscal Years
(Accrual basis of accounting)
(Amounts expressed in thousands)
-101-
2016 2017 2018* 2019 2020
Governmental activities
Net investment in capital assets 12,658 $ 14,156 $ 15,281 $ 15,315 $ 15,776 $ Restricted 1,334 764 761 1,350 1,453
Unrestricted (3,828) (5,506) (10,679) (10,746) (11,287) Total governmental activities net position 10,164 $ 9,414 $ 5,363 $ 5,919 $ 5,942 $ 2021 2022 2023 2024 2025
Governmental activities
Net investment in capital assets 15,623 $ 16,545 $ 17,439 $ 22,099 $ 28,544 $ Restricted 2,153 2,353 1,950 2,434 2,828
Unrestricted (9,608) (5,197) (1,899) (3,133) (10,847)
Total governmental activities net position 8,168 $ 13,701 $ 17,490 $ 21,400 $ 20,525 $ Source: City of Los Alamitos, Finance Department
* In Fiscal Year 2017-18 the City implemented GASB Statement No. 75, which resulted in a $3.6 million decrease to the City's net position in relation to accounting for the City's total OPEB liability. 0 5
10 15
20 25
30 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Millions
Unrestricted Net investment in capital assets Restricted
City of Los Alamitos
Changes in Net Position
Last Ten Fiscal Years
(Accrual basis of accounting)
(Amounts expressed in thousands)
-102-
2016 2017 2018 2019 2020
Expenses
Governmental activities:
General government $ 2,976 $ 2,830 $ 3,517 $ 3,135 $ 3,586 Public safety 5,732 6,922 6,311 6,556 6,912
Community development 685 775 1,104 986 1,091
Recreation and community services 1,834 1,783 1,811 1,746 1,758 Public works 2,339 2,306 2,314 2,415 2,572
Interest and fiscal charges 302 148 141 142 58
Total governmental activites expenses 13,868 14,764 15,198 14,980 15,977 Program Revenues
Governmental activities:
Charges for services
General government 225 272 814 831 1,335
Public safety 808 825 859 916 711
Community development 80 100 198 3 3
Recreation and community services 1,225 1,087 956 937 781 Public works 139 - - 167 508
Operating grants 398 453 151 442 628
Capital grants and contributions 530 369 391 254 249
Total governmental activites program revenues 3,405 3,106 3,369 3,550 4,215 Net (expense)/revenue
Governmental activities (10,463) (11,658) (11,829) (11,430) (11,762) General Revenues and Other Changes in Net Position
Governmental activities:
Taxes
Property 3,118 3,603 3,773 3,946 4,169
Utility users tax 2,092 2,037 2,034 1,968 1,988
Transient occupancy 156 159 167 160 132
Sales 3,357 3,160 3,336 3,597 3,227
Franchise 709 669 691 688 611
Business license 566 609 647 684 730
Other 251 339 429 557 564
10,576 10,249 11,077 11,600 11,421
Investment income 86 63 102 271 254
Other 185 269 182 115 110
Total governmental activities 10,520 10,908 11,361 11,986 11,785 Changes in Net Position
Governmental activities 57 $ (750) $ (468) $ 556 $ 23 $ Source: City of Los Alamitos, Finance Department
City of Los Alamitos
Changes in Net Position, (Continued)
Last Ten Fiscal Years
(Accrual basis of accounting)
(Amounts expressed in thousands)
-103-
2021 2022 2023 2024 2025
Expenses
Governmental activities:
General government $ 3,493 $ 2,548 $ 3,617 $ 4,683 $ 6,688 Public safety 7,135 6,382 8,824 10,760 11,777
Community development 957 1,344 2,121 2,576 4,398
Recreation and community services 1,471 2,043 2,808 3,228 3,895 Public works 2,907 3,226 3,333 2,306 1,378
Interest and fiscal charges 331 138 227 191 239
Total governmental activites expenses 16,294 15,681 20,930 23,744 28,375 Program Revenues
Governmental activities:
Charges for services
General government 914 1,035 1,557 1,829 1,445
Public safety 478 411 390 604 860
Community development 2 1 1 - 10
Recreation and community services 527 892 545 460 513
Public works 353 1 - - -
Operating grants 1,872 677 1,071 1,824 1,570
Capital grants and contributions 241 308 264 375 364
Total governmental activites program revenues 4,387 3,325 3,828 5,092 4,762 Net (expense)/revenue
Governmental activities (11,907) (12,356) (17,102) (18,652) (23,613) General Revenues and Other Changes in Net Position
Governmental activities:
Taxes
Property 4,455 4,732 5,067 5,301 5,645
Utility users tax 1,834 2,123 2,308 2,830 2,570
Transient occupancy 223 522 635 598 581
Sales 4,855 9,671 10,718 9,632 9,987
Franchise 725 1,071 862 882 850
Business license 886 728 631 1,141 1,049
Other 548 640 671 803 826
19,487 13,526 20,892 21,187 21,508
Investment income 78 (665) (132) 1,243 1,263
Other 528 83 131 131 (33)
Total governmental activities 14,132 18,905 20,891 22,561 22,738 Changes in Net Position
Governmental activities 2,225 $ 6,549 $ 3,789 $ 3,909 $ (875) $ Source: City of Los Alamitos, Finance Department
City of Los Alamitos
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
(Amounts expressed in thousands)
-104-
2016 2017 2018 2019 2020
General Fund
Nonspendable 59 $ 17 $ $ 18 56 $ 14 $
Committed - - - 3,607 3,286
Assigned 7,347 7,481 7,662 4,589 4,196
Unassigned 3 56 49 588 2,785
Total General Fund 7,409 7,554 7,729 8,840 10,281
All Other Governmental Funds
Restricted 1,333 1,334 713 1,180 1,453
Committed -
Assigned 1,001 345 129 99 200
Unassigned - - - (4) (9)
Total All Other Governmental Funds 2,334 1,679 842 1,275 1,644 Total All Governmental Funds 9,743 $ 9,233 $ 8,571 $ 10,115 $ 11,925 $ Source: City of Los Alamitos, Finance Department
City of Los Alamitos
Fund Balances of Governmental Funds, (Continued)
Last Ten Fiscal Years
(Modified accrual basis of accounting)
(Amounts expressed in thousands)
-105-
2021 2022 2023 2024 2025
General Fund
Nonspendable 7 $ 4 $ 35 $ 61 $ 46 $
Committed 3 3 1,583 1,583 1,583
Assigned 4,203 4,196 3,900 3,600 3,000
Unassigned 9,403 12,570 14,555 17,775 14,263
Total General Fund 13,616 16,773 20,073 23,019 18,892
All Other Governmental Funds
Restricted 2,153 2,353 1,950 2,434 2,829
Committed - - 134 432 288
Assigned 109 243 339 416 405
Unassigned (10) (114) (114) (114) -
Total All Other Governmental Funds 2,252 2,482 2,309 3,168 3,522 Total All Governmental Funds 15,868 $ 19,255 $ 22,382 $ 26,187 $ 22,414 $ Source: City of Los Alamitos, Finance Department
City of Los Alamitos
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
(Amounts expressed in thousands)
-106-
2016 2017 2018 2019 2020
Revenues
Taxes 10,559 $ $ 10,724 $ 11,078 $ 11,600 $ 11,422
Licenses and permits 225 272 814 831 1,462
Intergovernmental 245 609 323 294 684
Charges for services 1,459 1,202 1,169 1,121 1,310
Investment earnings 86 63 106 271 254
Fines and forfeitures 781 810 844 900 694
Other 460 476 398 349 301
Total Revenues 13,815 14,156 14,732 15,366 16,127
Expenditures
General government 2,735 2,029 2,243 2,299 2,405
Public safety 5,711 5,777 5,751 5,886 5,585
Community development 657 715 1,044 928 1,052
Recreation and community services 1,739 1,646 1,598 1,590 1,615 Public works 1,963 1,963 1,943 2,064 1,983
Capital outlay 213 1,972 1,068 332 865
Debt service:
Principal retirement 75 70 70 70 75
Payment to refunded bond escrow agent 220 - - - -
Interest and fiscal charges 311 142 140 139 136
Total Expenditures 13,624 14,314 13,857 13,308 13,716
Excess of revenues over/(under) expenditures 191 (158) 875 2,058 2,411 Other Financing Sources (Uses)
Lease Acquisitions
Transfers in 681 1,280 832 597 808
Transfers out (1,203) (2,201) (1,752) (1,157) (1,409)
Refunding bonds issued 3,685 - - - -
Bond premium 133 - - - -
Payment to refunded bond escrow agent (2,722) - - - -
Total other financing sources 574 (921) (920) (560) (601) Net change in fund balances 765 $ (1,079) $ (45) $ 1,498 $ 1,810 $ Debt service as a percentage of noncapital expenditures 2.865%(1) 1.713% 1.640% 1.611% 1.642% (1) Increase in debt service related to issuance of 2015 Certificates of Participation Source: City of Los Alamitos, Administrative Services Department
City of Los Alamitos
Changes in Fund Balances of Governmental Funds, (Continued) Last Ten Fiscal Years
(Modified accrual basis of accounting)
(Amounts expressed in thousands)
-107-
2021 2022 2023 2024 2025
Revenues
Taxes 13,526 $ 19,487 $ 21,116 $ 21,519 $ 21,505 $
Licenses and permits 914 1,035 815 816 780
Intergovernmental 1,888 699 691 1,429 1,101
Charges for services 890 905 881 765 925
Investment earnings 78 (665) (132) 1,243 1,263
Fines and forfeitures 468 401 575 776 1,574
Other 610 324 774 1,105 500
Total Revenues 18,374 22,186 24,720 27,653 27,648
Expenditures
General government 2,240 2,993 3,055 3,847 5,557
Public safety 5,938 6,617 7,699 8,455 8,688
Community development 1,185 1,292 1,903 2,257 3,831
Recreation and community services 1,391 1,911 2,485 2,706 3,153 Public works 2,379 2,952 3,034 3,800 4,471
Capital outlay 490 957 2,597 1,772 2,894
Debt service:
Principal retirement 75 80 94 214 226
Payment to refunded bond escrow agent - - - -
Interest and fiscal charges 134 130 165 138 127
Total Expenditures 13,832 16,932 21,032 23,189 28,947
Excess of revenues over/(under) expenditures 4,542 5,254 3,688 4,464 (1,299) Other Financing Sources (Uses)
Lease Acquisitions - 199 -
Transfers in 733 828 736 732 630
Transfers out (1,334) (1,678) (1,496) (1,392) (3,105)
Refunding bonds issued - - - - -
Bond premium - - - - -
Payment to refunded bond escrow agent - - - - -
Total other financing sources (601) (850) (561) (660) (2,475) Net change in fund balances 3,941 $ 4,404 $ 3,127 $ 3,804 $ (3,774) $ Debt service as a percentage of noncapital expenditures 1.566% 1.315% 1.405% 1.644% 1.355% Source: City of Los Alamitos, Administrative Services Department
City of Los Alamitos
2024/25 Use Category Summary - Basic Property Value Table Last Ten Fiscal Years
(Amounts expressed in thousands)
-108-
2016 2017 2018 2019 2020
Category
Residential 1,091,854 $ 1,143,395 $ 1,200,335 $ 1,266,083 $ 1,332,806 $ Commercial 359,002 365,544 393,211 405,241 427,330
Industrial 278,399 292,535 292,689 308,001 315,346
Institutional - - - - -
Miscellaneous - - - 1,793 608
Recreational - - - - -
Vacant land 9,710 9,905 11,648 10,088 19,185
SBE Nonunitary 222 222 222 970 970
Cross Reference 3,083 3,998 4,139 4,109 4,177
Unsecured 138,386 154,478 163,741 161,257 164,509
Other - - - - -
Totals 1,880,656 $ 1,970,077 $ 2,065,985 $ 2,157,542 $ 2,264,931 $ Direct rate 0.11571% 0.11578% 0.11578% 0.11821% 0.11848% Note:
Source: HdL Coren and Cone, Orange County Assessor Tax Rate Table 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 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 Los Alamitos
2024/25 Use Category Summary - Basic Property Value Table, (Continued) Last Ten Fiscal Years
(Amounts expressed in thousands)
-109-
2021 2022 2023 2024 2025
Category
Residential 1,408,761 $ 1,479,534 $ 1,601,740 $ 1,698,428 $ 1,786,722 $ Commercial 459,279 506,538 532,835 584,480 549,298
Industrial 382,149 417,895 438,566 520,831 540,905
Institutional - - - - -
Miscellaneous 555 - 572 2,205 1,449
Recreational - - - - -
Vacant land 14,902 10,998 948 834 115
SBE Nonunitary 970 401 361 361 361
Cross Reference 3,976 4,002 4,215 4,368 4,797
Unsecured 158,443 189,648 183,150 175,911 238,862
Other - - - - -
Totals 2,429,035 $ 2,609,016 $ 2,762,387 $ 2,987,418 $ 3,122,509 $ Direct rate 1.17510% 0.11703% 0.11703% 0.11656% 11.69800% Source: HdL Coren and Cone, Orange County Assessor Tax Rate Table
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City of Los Alamitos
Assessed Value and Estimated Actual Value of Taxable Property Last Ten Fiscal Years
(Amounts expressed in thousands)
-110-
Fiscal Year
Ended
June 30
2016 1,742,048 $ 138,386 $ - $ 1,880,434 $ 0.116
2017 1,806,377 154,478 - 1,960,855 0.116
2018 1,902,022 163,742 - 2,065,764 0.116
2019 1,995,314 161,257 - 2,156,571 0.116
2020 2,099,452 164,509 - 2,263,961 0.116
2021 2,269,621 158,443 - 2,428,064 0.116
2022 2,418,967 189,648 - 2,609,016 0.117
2023 2,578,876 183,150 - 2,762,386 0.117
2024 2,811,508 175,910 - 2,987,418 0.117
2025 2,833,287 238,862 - 3,211,509 0.117
(2) Total includes Nonunitary Taxable Assessed Values.
Note:
Source: HdL Coren and Cone, Orange County Assessor Combined Tax Rolls (1) Exemptions are netted against the individual property categories.
Secured Unsecured Exemptions (1) Value (2)
Less: Assessed
Taxable Direct
Tax
Rate
Total
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 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 Los Alamitos
Direct and Overlapping Property Tax Rates
(Rate per $100 of assessed value)
Last Ten Fiscal Years
-111-
2016 2017 2018 2019 2020
City Direct Rate 0.116 0.116 0.116 0.116 0.116
Overlapping Rates:
Los Alamitos City General Fund 0.101 0.101 0.101 0.101 0.101 Los Alamitos City Lighting Reorganization 0.016 0.016 0.016 0.016 0.016 Educational Revenue Augmentation Fund 0.145 0.145 0.145 0.145 0.145 Los Alamitos Unified General Fund 0.412 0.412 0.412 0.412 0.412 North Orange Co. Community College District 0.059 0.059 0.059 0.059 0.059 Orange County Department of Education 0.031 0.031 0.031 0.031 0.031 Orange County Fire Authority 0.095 0.095 0.095 0.095 0.095 Orange County Flood Control District General 0.017 0.017 0.017 0.017 0.017 Orange County General Fund 0.052 0.052 0.052 0.052 0.052 Orange County Harbors Beaches & Parks Csa 26 0.013 0.013 0.013 0.013 0.013 Orange County Public Library 0.014 0.014 0.014 0.014 0.014 Orange County Sanitation District 3 Operating 0.027 0.027 0.027 0.027 0.027 Orange County Transit Authority 0.002 0.002 0.002 0.002 0.002 Orange County Vector Control 0.001 0.001 0.001 0.001 0.001 Orange County Water District 0.006 0.006 0.006 0.006 0.006 Orange County Water District reserve 0.000 0.000 0.000 0.000 0.000 Rossmoor/Los Alamitos Sewer District 0.010 0.010 0.010 0.010 0.010 Total Prop 13 Rate 1.000 1.000 1.000 1.000 1.000
Anaheim High School District 0.049 0.043 0.022 0.042 0.040 Cypress Elementary 0.025 0.024 0.031 0.030 0.030
Garden Grove Unified School District 0.047 0.045 0.075 0.068 0.069 Los Alamitos Sfid 0.052 0.048 0.047 0.049 0.080
Metropolitan Water District 0.004 0.004 0.004 0.004 0.004 N. Orange County Community College 0.030 0.029 0.029 0.028 0.024 Total Voter Approved tax Rate 0.207 0.192 0.207 0.221 0.247 Total Tax Rate 1.207 1.192 1.207 1.220 1.247
Source: HdL Coren and Cone, Orange County Assessor 2015/2016 - 2023/2024 Tax Rate Table
City of Los Alamitos
Direct and Overlapping Property Tax Rates, (Continued)
(Rate per $100 of assessed value)
Last Ten Fiscal Years
-112-
2021 2022 2023 2024 2025
0.116 0.117 0.117 0.117 0.117
Los Alamitos City General Fund 0.101 0.101 0.101 0.101 0.101 Los Alamitos City Lighting Reorganization 0.016 0.016 0.016 0.016 0.016 Educational Revenue Augmentation Fund 0.145 0.145 0.145 0.145 0.145 Los Alamitos Unified General Fund 0.412 0.412 0.412 0.412 0.412 North Orange Co. Community College District 0.059 0.059 0.059 0.059 0.059 Orange County Department of Education 0.031 0.031 0.031 0.031 0.031 Orange County Fire Authority 0.095 0.095 0.095 0.095 0.095 Orange County Flood Control District General 0.017 0.017 0.017 0.017 0.017 Orange County General Fund 0.052 0.052 0.052 0.052 0.052 Orange County Harbors Beaches & Parks Csa 26 0.013 0.013 0.013 0.013 0.013 Orange County Public Library 0.014 0.014 0.014 0.014 0.014 Orange County Sanitation District 3 Operating 0.027 0.027 0.027 0.027 0.027 Orange County Transit Authority 0.002 0.002 0.002 0.002 0.002 Orange County Vector Control 0.001 0.001 0.001 0.001 0.001 Orange County Water District 0.006 0.006 0.006 0.006 0.006 Orange County Water District Reserve 0.000 0.000 0.000 0.000 0.000 Rossmoor/Los Alamitos Sewer District 0.010 0.010 0.010 0.010 0.010 Total Prop 13 Rate 1.000 1.000 1.000 1.000 1.000
Anaheim High School District 0.040 0.038 0.030 0.032 0.033 Cypress Elementary 0.033 0.030 0.032 0.031 0.029
Garden Grove Unified School District 0.070 0.074 0.063 0.067 0.061 Los Alamitos Sfid 0.093 0.079 0.082 0.072 0.070
Metropolitan Water District 0.004 0.004 0.004 0.004 0.007 N. Orange County Community College 0.032 0.029 0.028 0.017 0.017 Total Voter Approved tax Rate 0.271 0.253 0.238 0.222 0.217 Total Tax Rate 1.271 1.253 1.238 1.222 1.217
Source: HdL Coren and Cone, Orange County Assessor 2015/2016 - 2023/2024 Tax Rate Table
City of Los Alamitos
Principal Property Taxpayers
Current and Ten Years Ago
(Amounts expressed in thousands)
-113-
Percent of Percent of
Total City Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Value Value Value Value
Los Alamitos APG LLC 133,110 $ 4.263%
The Regents 92,492 2.962%
Duke Realty Los Alamitos LP 68,462 2.193%
Fine US Long Beach LLC 62,620 2.005%
JCB Merger Sub LLC 45,895 1.470%
Trend Offset Printing Inc. 49,601.0 $ 2.793%
Bar Bakers LLC 35,751 1.145%
Lampson Park Place LLC
Los Alamitos Luxury Apartments LLC 28,566 0.915%
Los Alamitos Medical Center 46,222 1.480% 104,326 5.874% Los Alamitos Corporation Center JV 55,556 3.128%
Epson America USA
CGM Katella LLC 18,232 1.027%
Ganahl Lumber Company 15,592 0.878%
Don Wilson Staples LLC 31,555 1.777%
JCB Inc Tinicum Corporation 17,728 0.998%
Bayport Los Alamitos Associates LP 129,112 7.269%
Fine US Long Beach LLC
Davenport KCC Partners LLC
Arrowhead Products Corporation 13,650 0.769%
Golden State Water Company 33,492 1.073%
Millrose Properties California LLC 27,570 0.883%
Katella Property Owner LLC 13,000 0.732%
Top Ten Totals 574,180 $ 18.388% 448,352 $ 25.24%
City Totals 2,966,736 $ 1,776,130 $
Source: HdL Coren and Cone, Orange County Assessor 2014/15 and 2023/24 Tax Rolls 2025 2016
City of Los Alamitos
Principal Property Taxpayers
Current and Ten Years Ago
(Amounts expressed in thousands)
-114-
Fiscal
Year
Ended
June 30
2016 2,261,032 $ 2,220,841 $ 98.222% 18,519 $ 2,239,360 $ 99.041% 2017 2,347,295 2,314,148 98.588% 17,812 2,331,960 99.347% 2018 2,457,342 2,440,391 99.310% 16,019 2,456,410 99.962% 2019 2,679,049 2,629,318 98.144% 16,951 2,646,269 98.776% 2020 2,786,377 2,742,208 98.415% 21,973 2,764,181 99.203% 2021 2,903,005 2,761,268 95.118% 18,858 2,780,126 95.767% 2022 2,950,445 2,737,154 92.771% 18,843 2,755,997 93.410% 2023 3,007,393 2,762,386 91.853% 22,187 2,784,573 92.591% 2024 3,155,501 2,987,413 94.673% 22,741 3,010,154 95.394% 2025 3,294,986 3,150,756 95.623% 28,042 3,178,798 96.474% (1) Total amount of delinquent taxes collected in each fiscal year; information regarding levy year to which delinquent tax collections pertain is not provided by the Orange County Auditor- Controller.
Source: Orange County Auditor - Controller
Taxes Levied
for the Percent
Fiscal Year
Fiscal Year of Levy Collections
Amount of Levy
Total Collections to Date
Percent
Years (1) Amount of Levy
for Prior
Collected within the
City of Los Alamitos
Ratio of Outstanding Debt by Type
Last Ten Fiscal Years
(Amounts expressed in thousands, except per capita)
-115-
Debt as a
Percentage
Fiscal of Personal
Year Leases Subscription Income1
2016 $ 3,685 - $ - $ $ 3,685 0.874%
2017 3,615 270 - 3,885 0.849%
2018 3,545 204 - 3,749 0.871%
2019 3,475 137 - 3,612 0.869%
2020 3,400 69 - 3,469 0.782%
2021 3,325 68 - 3,393 0.704%
2022 3,245 62 - 3,307 0.688%
2023 3,261 688 - 3,949 0.772%
2024 3,171 739 - 3,910 0.687%
2025 3,077 799 86 3,962 0.696%
1 Ratio is calculated using personal income and population data for the prior calendar year.
Source: City of Los Alamitos, Finance Department
Governmental Activities
Government
Primary
Total
Participation
Certificates
of
City of Los Alamitos
Direct and Overlapping Governmental Activity Debt
As of June 30, 2025
(Amounts expressed in thousands)
-116-
2024-2025 Taxable Assessed Valuation: $3,122,396,231
City's
Total Percent Share
Debt Applicable of Debt
6/30/2025 to City (1) 6/30/2025
DIRECT DEBT
Vehicle Lease Liability $ 609 100.000% $ 609
Warehouse Lease Liability 94 100.000% 94
Camera Lease Liability 96 100.000% 96
Subscription Liability 86 100.000% 86
Bonded Debt 3,077 100.000% 3,077
TOTAL DIRECT DEBT $ 3,962
OVERLAPPING TAX ASSESSMENT DEBT:
Metropolitan Water District 17,155 0.077% $ 13
N.OC Community College 2014 Bond Series B 275,135 1.728% 4,754 Garden Grove USD 2016 Series 2021 509,370 0.010% 51
Los Alamitos SFID #1 2008 Series A 213,215 23.813% 50,773 Anaheim High 2014 Bond Series 2019 424,314 0.096% 407
Cypress Elementary 2008 Bond, Series B1 & B2 29,484 0.641% 189 TOTAL OVERLAPPING TAX ASSESSMENT DEBT: $ 56,187
DIRECT AND OVERLAPPING GENERAL FUND DEBT:
Orange County General Fund Obligations 429,065 0.384% $ 1,648 Orange County Board of Education Cert of Participations 9,120 0.384% 35 Los Alamitos SFID #1 2008 Series 2020G 27,038 21.265% 5,750 Anaheim High 2018 Bond Series 2014 26,880 0.098% 26
Cypress Elementary 2008 Bond Series A 2,096 0.665% 14
N.OC Community College 2014 Bond Series A 6,880 1.771% 122 City of Los Alamitos Certificate of Participation 2,985 100.000% 3,077 Lease payable 799
Subscription payable 86
TOTAL DIRECT AND OVERLAPPING GENERAL FUND DEBT: $ 11,557 TOTAL DIRECT DEBT 3,962
TOTAL OVERLAPPING DEBT 56,187
TOTAL DIRECT & OVERLAPPING DEBT $ 60,149
(1)
(2)
Ratios to Assessed Valuation:
Total Direct Debt……………………………………………0.10%
Overlapping Debt……………………………………………1.80%
The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value.
Applicable percentages 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.
Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations. Qualified Zone Academy Bonds are included based on principal due at maturity.
City of Los Alamitos
Legal Debt Margin Information
Last Ten Fiscal Years
-117-
Legal Debt Margin Calculation for the Current Year
Assessed value $ 3,122,396,231
Debt limit (15% of assessed value) 468,359,435
Debt applicable to limit -
Legal debt margin - Current Year $ 468,359,435
Fiscal
Year
2016 282,098,369 $ - $ 282,098,369 $ -
2017 294,161,529 - 294,161,529 -
2018 309,897,790 - 309,897,790 -
2019 323,585,613 3,612,467 319,973,146 1.12%
2020 343,305,168 3,565,517 339,739,651 1.04%
2021 367,857,100 3,325,000 364,532,100 0.90%
2022 394,702,562 3,350,121 391,352,441 0.85%
2023 414,562,396 3,160,000 411,402,396 0.76%
2024 442,992,617 3,075,000 439,917,617 0.69%
2025 468,359,435 2,985,000 465,374,435 0.64%
Source: City of Los Alamitos, Finance Department
Limit to Limit
Debt as
Percentage
Margin of Limit
Debt
Debt
Applicable Debt
Legal