Agenda packet — Madera City Council, March 18, 2026 (part 2 of 2)

SIDE LETTER AGREEMENT #1

BETWEEN THE CITY OF MADERA
AND
THE MADERA POLICE OFFICERS’ ASSOCIATION
The parties have conferred, and do hereby agree to the following changes to the Memorandum of Understanding (MOU) between the City of Madera and the Madera Police Officers’ Association dated July 2, 2025, to June 30, 2027:

SECTION 1. The existing position of Public Safety Dispatcher will be replaced with Public Safety Dispatcher I and a new Public Safety Dispatcher II position will be added to the salary schedule.

SECTION 2. The pay range assignments reflected in Exhibit A to the MOU for the following classifications will be modified as follows effective March 21, 2026. The specific pay steps within each assigned range are identified in Exhibit 1 to this Side Letter Agreement.

Table 1: Classification Pay Assignment to City of Madera Salary Schedule M Classification
Current Pay
Range
Assignment
Pay Range
Assignment to be
Effective 3/21/2026
Public Safety Dispatcher 294 N/A
Public Safety Dispatcher I N/A 300
Public Safety Dispatcher II N/A 341
Police Officer Trainee 333 363
Police Officer I 363 373
Police Officer II 373 381
Police Corporal 383 395
SECTION 3. Except as otherwise specifically modified by this Side Letter Agreement #1, all other terms and provisions of the MOU between the City of Madera and the Madera Police Officers’ Association dated July 2, 2025, to June 30, 2027, shall remain in full force and effect.

SECTION 4. This Side Letter Agreement is effective upon adoption and shall remain in full force and effect until a successor Memorandum of Understanding between the City of Madera and the Madera Police Officers’ Association is fully executed by both parties.

Blake Short, President Arnoldo Rodriguez, City Manager
Date Date
Exhibit 1
MPOA Side Letter Agreement #1

A B C D E F
Crime Analysis Technician MPOA 306 $1,823.55 $1,915.14 $2,010.86 $2,111.32 $2,216.50 $2,327.59 Police Corporal MPOA 395 $2,842.87 $2,984.68 $3,134.18 $3,290.78 $3,455.05 $3,628.18 Police Officer I MPOA 373 $2,547.41 $2,674.46 $2,808.59 $2,948.64 $3,096.37 $3,251.18 Police Officer II MPOA 381 $2,650.82 $2,783.78 $2,931.50 $3,068.59 $3,222.23 $3,383.55 Police Officer Trainee MPOA 363 $2,423.32 $2,544.46 $2,671.50 $2,805.05 $2,945.68 $3,092.82 Police Sergeant MPOA 426 $3,317.96 $3,484.00 $3,658.32 $3,840.91 $4,032.96 $4,234.46 Property & Evidence Officer MPOA 296 $1,734.91 $1,821.77 $1,912.77 $2,008.50 $2,108.96 $2,214.14 Public Safety Dispatcher I MPOA 300 $1,769.77 $1,858.41 $1,951.18 $2,048.68 $2,151.50 $2,259.05 Public Safety Dispatcher II MPOA 341 $2,171.59 $2,280.32 $2,394.36 $2,513.73 $2,639.59 $2,771.37 Records Clerk MPOA 270 $1,523.96 $1,600.18 $1,679.95 $1,764.46 $1,852.50 $1,945.27 Crime Analysis Technician MPOA 306 $1,860.02 $1,953.44 $2,051.08 $2,153.55 $2,260.83 $2,374.14 Police Corporal MPOA 395 $2,899.72 $3,044.38 $3,196.87 $3,356.59 $3,524.15 $3,700.75 Police Officer I MPOA 373 $2,598.36 $2,727.95 $2,864.76 $3,007.61 $3,158.29 $3,316.21 Police Officer II MPOA 381 $2,703.84 $2,839.45 $2,990.13 $3,129.96 $3,286.67 $3,451.22 Police Officer Trainee MPOA 363 $2,471.79 $2,595.34 $2,724.93 $2,861.15 $3,004.60 $3,154.68 Police Sergeant MPOA 426 $3,384.32 $3,553.68 $3,731.49 $3,917.73 $4,113.62 $4,319.15 Property & Evidence Officer MPOA 296 $1,769.61 $1,858.21 $1,951.03 $2,048.67 $2,151.14 $2,258.42 Public Safety Dispatcher I MPOA 300 $1,805.17 $1,895.58 $1,990.21 $2,089.66 $2,194.53 $2,304.23 Public Safety Dispatcher II MPOA 341 $2,215.02 $2,325.93 $2,442.25 $2,564.00 $2,692.38 $2,826.79 Records Clerk MPOA 270 $1,554.43 $1,632.19 $1,713.55 $1,799.74 $1,889.55 $1,984.18 Effective 6/13/2026
Job Title B/U Range
Bi-Weekly Pay Rate
Effective 3/21/2026

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Exhibit B: Side Letter #1 with Mid Management Employee Group

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SIDE LETTER AGREEMENT #1

BETWEEN THE CITY OF MADERA
AND

THE MID MANAGEMENT EMPLOYEE GROUP
The parties have conferred, and do hereby agree to the following changes to the Memorandum of Understanding (MOU) between the City of Madera and the Mid Management Employee Group dated July 16, 2025, to June 30, 2027:

SECTION 1. The pay range assignments reflected in Exhibit A to the MOU for the following classifications will be modified as follows effective March 21, 2026. The specific pay steps within each assigned range are identified in Exhibit 1 to this Side Letter Agreement.

Table 1: Classification Pay Assignment to City of Madera Salary Schedule M Classification
Current Pay
Range
Assignment
Pay Range
Assignment to be
Effective 3/21/2026
Associate Civil Engineer 445 453
Senior Civil Engineer 475 483
Deputy City Engineer 495 503
Streets & Storm Drainage Operations Manager 385 421
SECTION 2. Except as otherwise specifically modified by this Side Letter Agreement #1, all other terms and provisions of the MOU between the City of Madera and the Mid Management Employee Group dated July 16, 2025, to June 30, 2027, shall remain in full force and effect.

SECTION 3. This Side Letter Agreement is effective upon adoption and shall remain in full force and effect until a successor Memorandum of Understanding between the City of Madera and the Mid Management Employee Group is fully executed by both parties.

Nicole Say, President Arnoldo Rodriguez, City Manager
Date Date
Exhibit 1
MM Side Letter Agreement #1

A B C D E F
Accountant I MM 322 $1,975.41 $2,074.09 $2,177.50 $2,286.23 $2,400.86 $2,520.82 Accountant II MM 362 $2,411.50 $2,532.05 $2,658.50 $2,791.46 $2,930.91 $3,077.46 Administrative Analyst I MM 358 $2,363.64 $2,481.82 $2,605.91 $2,736.50 $2,873.00 $3,016.59 Administrative Analyst II MM 386 $2,718.18 $2,854.09 $2,996.50 $3,146.59 $3,303.77 $3,468.64 Assistant Engineer MM 392 $2,800.32 $2,940.37 $3,087.50 $3,241.73 $3,404.23 $3,574.41 Associate Civil Engineer MM 453 $3,796.59 $3,986.28 $4,185.41 $4,394.59 $4,614.41 $4,844.87 Associate Planner MM 368 $2,484.77 $2,608.86 $2,739.46 $2,875.96 $3,020.14 $3,170.82 Code Enforcement Supervisor MM 380 $2,637.82 $2,769.59 $2,907.87 $3,053.82 $3,206.28 $3,366.41 Communications Specialist MM 358 $2,363.64 $2,481.82 $2,605.91 $2,736.50 $2,873.00 $3,016.59 Construction Inspection Supervisor MM 400 $2,914.37 $3,060.32 $3,213.37 $3,374.09 $3,542.50 $3,719.77 Deputy City Engineer MM 503 $4,871.46 $5,114.91 $5,370.78 $5,639.64 $5,921.50 $6,217.55 Electrical and Facilities Operations Manager MM 421 $3,236.41 $3,398.32 $3,567.91 $3,746.37 $3,933.68 $4,130.46 Engineering Project Manager MM 419 $3,203.91 $3,364.64 $3,532.46 $3,709.14 $3,894.68 $4,089.68 Executive Secretary MM 330 $2,055.78 $2,158.59 $2,266.14 $2,379.59 $2,498.37 $2,623.64 Executive Secretary to City Administrator MM 330 $2,055.78 $2,158.59 $2,266.14 $2,379.59 $2,498.37 $2,623.64 Financial Services Manager MM 446 $3,666.00 $3,849.18 $4,041.82 $4,243.91 $4,456.05 $4,678.82 Fleet Operations Manager MM 404 $2,973.46 $3,121.78 $3,277.77 $3,442.05 $3,614.00 $3,794.82 Grant Administrator MM 446 $3,666.00 $3,849.18 $4,041.82 $4,243.91 $4,456.05 $4,678.82 Grant Analyst MM 358 $2,363.64 $2,481.82 $2,605.91 $2,736.50 $2,873.00 $3,016.59 Human Resources Technician MM 290 $1,684.09 $1,768.00 $1,856.64 $1,949.41 $2,046.91 $2,149.14 Human Resources Technician II MM 310 $1,860.18 $1,953.55 $2,051.05 $2,153.87 $2,261.41 $2,374.27 Network Administrator MM 389 $2,758.96 $2,896.64 $3,041.41 $3,193.87 $3,353.41 $3,521.23 Park Project Manager MM 426 $3,317.96 $3,484.00 $3,658.32 $3,840.91 $4,032.96 $4,234.46 Parks Manager MM 385 $2,704.59 $2,839.32 $2,981.73 $3,130.64 $3,287.23 $3,451.50 Parks Supervisor MM 350 $2,271.46 $2,384.91 $2,504.27 $2,628.96 $2,760.73 $2,898.41 Procurement Services Manager MM 358 $2,363.64 $2,481.82 $2,605.91 $2,736.50 $2,873.00 $3,016.59 Program Manager-Grants MM 366 $2,459.96 $2,582.87 $2,712.27 $2,847.59 $2,990.00 $3,139.50 Recreation/Community Programs Manager MM 390 $2,772.55 $2,911.41 $3,056.77 $3,209.82 $3,369.96 $3,538.96 Recreation/Community Programs Supervisor MM 353 $2,305.73 $2,420.96 $2,541.50 $2,668.55 $2,802.09 $2,942.14 Redevelopment Agency Secretary MM 342 $2,182.23 $2,291.55 $2,406.18 $2,526.14 $2,652.59 $2,785.55 Job Title B/U Range
Bi-Weekly Pay Rate
Effective 3/21/2026

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Exhibit 1
MM Side Letter Agreement #1
Job Title B/U Range A B C D E F
Bi-Weekly Pay Rate
Redevelopment Manager MM 427 $3,334.50 $3,501.14 $3,676.64 $3,860.41 $4,053.05 $4,255.73 Safety Officer MM 358 $2,363.64 $2,481.82 $2,605.91 $2,736.50 $2,873.00 $3,016.59 Senior Civil Engineer MM 483 $4,408.78 $4,629.78 $4,860.82 $5,104.28 $5,358.96 $5,627.23 Senior Planner MM 429 $3,368.18 $3,536.59 $3,713.28 $3,898.82 $4,093.82 $4,298.28 Solid Waste Manager MM 353 $2,305.73 $2,420.96 $2,541.50 $2,668.55 $2,802.09 $2,942.14 Streets & Storm Drainage Ops. Manager MM 421 $3,236.41 $3,398.32 $3,567.91 $3,746.37 $3,933.68 $4,130.46 Streets & Storm Drainage Supervisor MM 350 $2,271.46 $2,384.91 $2,504.27 $2,628.96 $2,760.73 $2,898.41 Tyler Munis Implementation Project Manager MM 408 $3,033.14 $3,185.00 $3,343.96 $3,511.18 $3,686.68 $3,871.05 Utility Billing Supervisor MM 334 $2,097.14 $2,201.73 $2,312.23 $2,427.46 $2,549.18 $2,676.23 Waste Water Treatment Plant Manager MM 459 $3,911.82 $4,107.41 $4,312.46 $4,528.14 $4,754.46 $4,992.59 Wastewater Collection System Supervisor MM 346 $2,226.55 $2,337.64 $2,454.64 $2,577.55 $2,706.36 $2,841.68 Water & Sewer Operations Manager MM 423 $3,268.91 $3,432.00 $3,603.96 $3,784.18 $3,973.28 $4,171.82 Water Meter & Conservation Supervisor MM 340 $2,160.96 $2,268.50 $2,381.96 $2,501.32 $2,626.59 $2,757.77 Water System Supervisor MM 385 $2,704.59 $2,839.32 $2,981.73 $3,130.64 $3,287.23 $3,451.50 Accountant I MM 322 $2,014.92 $2,115.57 $2,221.05 $2,331.95 $2,448.88 $2,571.24 Accountant II MM 362 $2,459.73 $2,582.69 $2,711.67 $2,847.29 $2,989.53 $3,139.01 Administrative Analyst I MM 358 $2,410.91 $2,531.46 $2,658.03 $2,791.23 $2,930.46 $3,076.92 Administrative Analyst II MM 386 $2,772.55 $2,911.17 $3,056.43 $3,209.53 $3,369.85 $3,538.01 Assistant Engineer MM 392 $2,856.33 $2,999.17 $3,149.25 $3,306.56 $3,472.31 $3,645.90 Associate Civil Engineer MM 453 $3,872.53 $4,006.00 $4,269.12 $4,482.49 $4,706.70 $4,941.76 Associate Planner MM 368 $2,534.47 $2,661.04 $2,794.25 $2,933.48 $3,080.54 $3,234.24 Code Enforcement Supervisor MM 380 $2,690.58 $2,824.98 $2,966.02 $3,114.90 $3,270.40 $3,433.74 Communications Specialist MM 358 $2,410.91 $2,531.46 $2,658.03 $2,791.23 $2,930.46 $3,076.92 Construction Inspection Supervisor MM 400 $2,972.65 $3,121.53 $3,277.63 $3,441.58 $3,613.35 $3,794.17 Deputy City Engineer MM 503 $4,968.89 $5,217.21 $5,478.19 $5,752.43 $6,039.93 $6,341.90 Electrical and Facilities Operations Manager MM 421 $3,301.14 $3,466.29 $3,639.27 $3,821.29 $4,012.36 $4,213.07 Engineering Project Manager MM 419 $3,267.99 $3,431.93 $3,603.11 $3,783.32 $3,972.58 $4,171.48 Executive Secretary MM 330 $2,096.89 $2,201.76 $2,311.46 $2,427.18 $2,548.33 $2,676.11 Executive Secretary to City Administrator MM 330 $2,096.89 $2,201.76 $2,311.46 $2,427.18 $2,548.33 $2,676.11 Financial Services Manager MM 446 $3,739.32 $3,926.17 $4,122.66 $4,328.79 $4,545.17 $4,772.40 Effective 6/13/2026

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Exhibit 1
MM Side Letter Agreement #1
Job Title B/U Range A B C D E F
Bi-Weekly Pay Rate
Fleet Operations Manager MM 404 $3,032.93 $3,184.21 $3,343.33 $3,510.89 $3,686.28 $3,870.72 Grant Administrator MM 446 $3,739.32 $3,926.17 $4,122.66 $4,328.79 $4,545.17 $4,772.40 Grant Analyst MM 358 $2,410.91 $2,531.46 $2,658.03 $2,791.23 $2,930.46 $3,076.92 Human Resources Technician MM 290 $1,717.77 $1,803.36 $1,893.77 $1,988.40 $2,087.85 $2,192.12 Human Resources Technician II MM 310 $1,897.39 $1,992.62 $2,092.07 $2,196.94 $2,306.64 $2,421.76 Network Administrator MM 389 $2,814.14 $2,954.57 $3,102.24 $3,257.74 $3,420.48 $3,591.65 Park Project Manager MM 426 $3,384.32 $3,553.68 $3,731.49 $3,917.73 $4,113.62 $4,319.15 Parks Manager MM 385 $2,758.68 $2,896.11 $3,041.36 $3,193.25 $3,352.97 $3,520.53 Parks Supervisor MM 350 $2,316.88 $2,432.61 $2,554.36 $2,681.54 $2,815.94 $2,956.38 Procurement Services Manager MM 358 $2,410.91 $2,531.46 $2,658.03 $2,791.23 $2,930.46 $3,076.92 Program Manager-Grants MM 366 $2,509.16 $2,634.52 $2,766.52 $2,904.54 $3,049.80 $3,202.29 Recreation/Community Programs Manager MM 390 $2,828.00 $2,969.64 $3,117.91 $3,274.02 $3,437.36 $3,609.74 Recreation/Community Programs Supervisor MM 353 $2,351.84 $2,469.38 $2,592.33 $2,721.92 $2,858.13 $3,000.98 Redevelopment Agency Secretary MM 342 $2,225.87 $2,337.38 $2,454.31 $2,576.66 $2,705.64 $2,841.26 Redevelopment Manager MM 427 $3,401.19 $3,571.16 $3,750.17 $3,937.62 $4,134.11 $4,340.84 Safety Officer MM 358 $2,410.91 $2,531.46 $2,658.03 $2,791.23 $2,930.46 $3,076.92 Senior Civil Engineer MM 483 $4,496.95 $4,722.37 $4,958.04 $5,206.36 $5,466.14 $5,739.78 Senior Planner MM 429 $3,435.55 $3,607.32 $3,787.54 $3,976.80 $4,175.70 $4,384.24 Solid Waste Manager MM 353 $2,351.84 $2,469.38 $2,592.33 $2,721.92 $2,858.13 $3,000.98 Streets & Storm Drainage Ops. Manager MM 421 $3,301.14 $3,466.29 $3,639.27 $3,821.29 $4,012.36 $4,213.07 Streets & Storm Drainage Supervisor MM 350 $2,316.88 $2,432.61 $2,554.36 $2,681.54 $2,815.94 $2,956.38 Tyler Munis Implementation Project Manager MM 408 $3,093.80 $3,248.70 $3,410.84 $3,581.41 $3,760.42 $3,948.47 Utility Billing Supervisor MM 334 $2,139.08 $2,245.76 $2,358.47 $2,476.00 $2,600.17 $2,729.75 Waste Water Treatment Plant Manager MM 459 $3,990.06 $4,189.56 $4,398.71 $4,618.70 $4,849.55 $5,092.45 Wastewater Collection System Supervisor MM 346 $2,271.08 $2,384.39 $2,503.73 $2,629.10 $2,760.49 $2,898.52 Water & Sewer Operations Manager MM 423 $3,334.29 $3,500.64 $3,676.04 $3,859.87 $4,052.74 $4,255.26 Water Meter & Conservation Supervisor MM 340 $2,204.17 $2,313.87 $2,429.59 $2,551.35 $2,679.12 $2,812.93 Water System Supervisor MM 385 $2,758.68 $2,896.11 $3,041.36 $3,193.25 $3,352.97 $3,520.53

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Exhibit C: Side Letter #1 with Law Enforcement Mid Management Group

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SIDE LETTER AGREEMENT #1

BETWEEN THE CITY OF MADERA
AND

THE LAW ENFORCEMENT MID MANAGEMENT GROUP
The parties have conferred, and do hereby agree to the following changes to the Memorandum of Understanding (MOU) between the City of Madera and the Law Enforcement Mid Management Group dated July 2, 2025, to June 30, 2027:

Table 1: Classification Pay Assignment to City of Madera Salary Schedule M Classification
Current Pay
Range
Assignment
Pay Range
Assignment to be
Effective 3/21/2026
Police Office Supervisor 350 380
Police Auxiliary Services Supervisor 350 380
SECTION 2. Except as otherwise specifically modified by this Side Letter Agreement #1, all other terms and provisions of the MOU between the City of Madera and the Law Enforcement Mid Management Group dated July 2, 2025, to June 30, 2027, shall remain in full force and effect.

SECTION 3. This Side Letter Agreement is effective upon adoption and shall remain in full force and effect until a successor Memorandum of Understanding between the City of Madera and the Law Enforcement Mid Management Group is fully executed by both parties.

Josiah Arnold, President Arnoldo Rodriguez, City Manager Date Date
Exhibit 1
LEMM Side Letter #1

A B C D E F
Executive Secretary to the Chief of Police LEMM 330 $2,055.78 $2,158.59 $2,266.14 $2,379.59 $2,498.37 $2,623.64 Police Auxiliary Services Supervisor LEMM 380 $2,637.82 $2,769.59 $2,907.87 $3,053.82 $3,206.28 $3,366.41 Police Commander LEMM 504 $4,895.68 $5,140.91 $5,397.96 $5,667.41 $5,951.05 $6,248.28 Police Lieutenant LEMM 487 $4,498.00 $4,722.55 $4,958.91 $5,207.09 $5,467.09 $5,740.69 Police Office Supervisor LEMM 380 $2,637.82 $2,769.59 $2,907.87 $3,053.82 $3,206.28 $3,366.41 Executive Secretary to the Chief of Police LEMM 330 $2,096.89 $2,201.76 $2,311.46 $2,427.18 $2,548.33 $2,676.11 Police Auxiliary Services Supervisor LEMM 380 $2,690.58 $2,824.98 $2,966.02 $3,114.90 $3,270.40 $3,433.74 Police Commander LEMM 504 $4,993.60 $5,243.73 $5,505.92 $5,780.76 $6,070.07 $6,373.24 Police Lieutenant LEMM 487 $4,587.96 $4,817.00 $5,058.09 $5,311.24 $5,576.44 $5,855.50 Police Office Supervisor LEMM 380 $2,690.58 $2,824.98 $2,966.02 $3,114.90 $3,270.40 $3,433.74 Job Title B/U Range
Bi-Weekly Pay Rate
Effective 3/21/2026
Effective 6/13/2026

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Resolution No.

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MADERA ADOPTING THE CITY OF MADERA FULL TIME SALARY SCHEDULE EFFECTIVE MARCH 21, 2026
WHEREAS, the City of Madera (City) has negotiated Side Letter Agreements regarding salary range adjustments for certain represented classifications; and WHEREAS, the City also desires to modify the assigned salary ranges for certain unrepresented positions; and
WHEREAS, the City has prepared a consolidated Full Time Salary Schedule in compliance with California Government Code §36506 and §37206 and California Code of Regulations, title 2, §570.5 that captures these changes in a single schedule to be published on its website.

NOW, THEREFORE, THE COUNCIL OF THE CITY OF MADERA hereby resolves, finds, and orders as follows:

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

2. Effective March 21, 2026, the City of Madera Full Time Salary Schedule, provided as Exhibit A and incorporated herein, is approved.

3. This resolution is effective immediately upon adoption. * * * * * * * * * * * * * *
Exhibit A: Full Time Salary Schedule effective March 21, 2026 City of Madera Full Time Salary Schedule
Effective 3/21/2026

A B C D E F
City Clerk EXE 419 $3,019.12 $3,170.57 $3,328.71 $3,495.20 $3,670.05 $3,853.80 City Manager EXE 587 $6,839.79 $7,181.95 $7,541.02 $7,918.09 $8,313.73 $8,729.55 Accountant (Junior) GBU 282 $1,617.91 $1,698.86 $1,783.96 $1,873.18 $1,966.55 $2,065.23 Accounting Technician I GBU 263 $1,471.96 $1,545.23 $1,622.64 $1,703.59 $1,788.68 $1,878.50 Accounting Technician II GBU 283 $1,626.18 $1,707.14 $1,792.82 $1,882.64 $1,976.59 $2,075.27 Accounting Technician III GBU 300 $1,769.77 $1,858.41 $1,951.18 $2,048.68 $2,151.50 $2,259.05 Administrative Assistant GBU 303 $1,796.36 $1,886.18 $1,980.73 $2,080.00 $2,184.00 $2,292.73 Animal Control Officer GBU 290 $1,684.09 $1,768.00 $1,856.64 $1,949.41 $2,046.91 $2,149.14 Assistant Planner GBU 352 $2,293.91 $2,408.55 $2,529.09 $2,655.55 $2,788.50 $2,927.96 Building Permit Technician GBU 288 $1,666.96 $1,750.27 $1,837.73 $1,929.91 $2,026.23 $2,127.86 Code Enforcement Officer I GBU 310 $1,860.18 $1,953.55 $2,051.05 $2,153.87 $2,261.41 $2,374.27 Code Enforcement Officer II GBU 330 $2,055.78 $2,158.59 $2,266.14 $2,379.59 $2,498.37 $2,623.64 Code Enforcement Officer III GBU 350 $2,271.46 $2,384.91 $2,504.27 $2,628.96 $2,760.73 $2,898.41 Combination Building Inspector GBU 348 $2,248.41 $2,361.27 $2,478.87 $2,602.96 $2,733.55 $2,870.05 Computer Technician I GBU 344 $2,204.09 $2,314.59 $2,430.41 $2,551.55 $2,679.18 $2,813.32 Computer Technician II GBU 375 $2,572.82 $2,701.64 $2,836.37 $2,978.18 $3,127.09 $3,283.68 Construction Inspector I GBU 322 $1,975.41 $2,074.09 $2,177.50 $2,286.23 $2,400.86 $2,520.82 Construction Inspector II GBU 342 $2,182.23 $2,291.55 $2,406.18 $2,526.14 $2,652.59 $2,785.55 Deputy City Clerk GBU 311 $1,869.64 $1,963.00 $2,061.09 $2,164.50 $2,272.64 $2,386.09 Electrician II GBU 361 $2,399.09 $2,519.05 $2,645.50 $2,777.27 $2,916.14 $3,062.09 Electrician III GBU 381 $2,650.82 $2,783.78 $2,931.50 $3,068.59 $3,222.23 $3,383.55 Engineering Technician I GBU 302 $1,787.50 $1,877.32 $1,970.68 $2,069.37 $2,172.77 $2,281.50 Engineering Technician II GBU 322 $1,975.41 $2,074.09 $2,177.50 $2,286.23 $2,400.86 $2,520.82 Engineering Technician III GBU 350 $2,271.46 $2,384.91 $2,504.27 $2,628.96 $2,760.73 $2,898.41 Facilities Maintenance Technician GBU 289 $1,675.23 $1,759.14 $1,847.18 $1,939.36 $2,036.27 $2,138.50 Grants Specialist GBU 299 $1,760.91 $1,848.96 $1,941.73 $2,038.64 $2,140.87 $2,247.82 Industrial Electrical Technician GBU 381 $2,650.82 $2,783.78 $2,931.50 $3,068.59 $3,222.23 $3,383.55 Lead Electrician GBU 401 $2,929.14 $3,075.68 $3,229.32 $3,390.64 $3,560.23 $3,738.09 Maintenance Technician GBU 308 $1,841.87 $1,934.05 $2,030.96 $2,132.59 $2,238.96 $2,350.64 Mechanic I GBU 286 $1,650.41 $1,733.14 $1,820.00 $1,911.00 $2,006.14 $2,106.59 Mechanic II GBU 301 $1,778.64 $1,867.86 $1,961.23 $2,059.32 $2,162.14 $2,270.27 Job Title B/U Range
Bi-Weekly Pay Rate
Adopted 3/18/2026 Page 1 of 5
City of Madera Full Time Salary Schedule
Effective 3/21/2026
Job Title B/U Range A B C D E F
Bi-Weekly Pay Rate
Mechanic III GBU 321 $1,965.36 $2,063.46 $2,166.86 $2,275.00 $2,389.05 $2,508.41 Neighborhood Outreach Assistant GBU 276 $1,570.05 $1,648.64 $1,731.36 $1,817.64 $1,908.64 $2,004.36 Neighborhood Outreach Coordinator GBU 306 $1,823.55 $1,915.14 $2,010.86 $2,111.32 $2,216.50 $2,327.59 Office Assistant I GBU 263 $1,471.96 $1,545.23 $1,622.64 $1,703.59 $1,788.68 $1,878.50 Office Assistant II GBU 283 $1,626.18 $1,707.14 $1,792.82 $1,882.64 $1,976.59 $2,075.27 Parks Leadworker GBU 323 $1,984.87 $2,084.14 $2,188.73 $2,298.05 $2,412.68 $2,533.23 Parks Worker I GBU 263 $1,471.96 $1,545.23 $1,622.64 $1,703.59 $1,788.68 $1,878.50 Parks Worker II GBU 283 $1,626.18 $1,707.14 $1,792.82 $1,882.64 $1,976.59 $2,075.27 Parks Worker III GBU 303 $1,796.36 $1,886.18 $1,980.73 $2,080.00 $2,184.00 $2,292.73 Payroll Specialist GBU 316 $1,916.91 $2,012.64 $2,113.68 $2,218.86 $2,329.96 $2,446.36 Plans Examiner GBU 360 $2,387.27 $2,506.64 $2,631.91 $2,763.68 $2,901.96 $3,046.73 Public Works Equipment Operator GBU 303 $1,796.36 $1,886.18 $1,980.73 $2,080.00 $2,184.00 $2,292.73 Public Works Maintenance Lead Worker GBU 323 $1,984.87 $2,084.14 $2,188.73 $2,298.05 $2,412.68 $2,533.23 Public Works Maintenance Worker I GBU 263 $1,471.96 $1,545.23 $1,622.64 $1,703.59 $1,788.68 $1,878.50 Public Works Maintenance Worker II GBU 283 $1,626.18 $1,707.14 $1,792.82 $1,882.64 $1,976.59 $2,075.27 Purchasing Assistant GBU 280 $1,601.96 $1,681.73 $1,766.23 $1,854.27 $1,947.05 $2,044.55 Recreation/Community Programs Coordinator GBU 313 $1,888.55 $1,983.09 $2,081.77 $2,186.36 $2,295.68 $2,410.32 Solid Waste/Recycling Assistant GBU 283 $1,626.18 $1,707.14 $1,792.82 $1,882.64 $1,976.59 $2,075.27 Solid Waste/Recycling Coordinator GBU 313 $1,888.55 $1,983.09 $2,081.77 $2,186.36 $2,295.68 $2,410.32 Water Conservation Customer Service Representative GBU 263 $1,471.96 $1,545.23 $1,622.64 $1,703.59 $1,788.68 $1,878.50 Water Conservation Specialist GBU 283 $1,626.18 $1,707.14 $1,792.82 $1,882.64 $1,976.59 $2,075.27 Water Quality Specialist I GBU 320 $1,955.32 $2,053.41 $2,156.23 $2,263.77 $2,377.23 $2,496.00 Water Quality Specialist II GBU 340 $2,160.96 $2,268.50 $2,381.96 $2,501.32 $2,626.59 $2,757.77 Water Quality Specialist In Training GBU 293 $1,708.91 $1,794.59 $1,884.41 $1,978.36 $2,077.64 $2,181.64 Water System Lead Worker GBU 365 $2,447.55 $2,569.87 $2,698.68 $2,833.41 $2,975.23 $3,124.14 Water System Technician GBU 350 $2,271.46 $2,384.91 $2,504.27 $2,628.96 $2,760.73 $2,898.41 Water System Worker I GBU 293 $1,708.91 $1,794.59 $1,884.41 $1,978.36 $2,077.64 $2,181.64 Water System Worker II GBU 320 $1,955.32 $2,053.41 $2,156.23 $2,263.77 $2,377.23 $2,496.00 Water System Worker III GBU 340 $2,160.96 $2,268.50 $2,381.96 $2,501.32 $2,626.59 $2,757.77 WW Lab Analyst/Environmental Compliance Inspector I GBU 345 $2,215.32 $2,325.82 $2,442.23 $2,564.55 $2,692.77 $2,827.50 WW Lab Analyst/Environmental Compliance Inspector II GBU 365 $2,447.55 $2,569.87 $2,698.68 $2,833.41 $2,975.23 $3,124.14 Adopted 3/18/2026 Page 2 of 5
City of Madera Full Time Salary Schedule
Effective 3/21/2026
Job Title B/U Range A B C D E F
Bi-Weekly Pay Rate
WWTP Lead Operator GBU 383 $2,677.41 $2,811.55 $2,952.18 $3,099.32 $3,254.73 $3,417.23 WWTP Mechanic GBU 375 $2,572.82 $2,701.64 $2,836.37 $2,978.18 $3,127.09 $3,283.68 WWTP Operator I GBU 322 $1,975.41 $2,074.09 $2,177.50 $2,286.23 $2,400.86 $2,520.82 WWTP Operator II GBU 344 $2,204.09 $2,314.59 $2,430.41 $2,551.55 $2,679.18 $2,813.32 WWTP Operator III GBU 364 $2,435.73 $2,557.46 $2,685.09 $2,819.23 $2,960.46 $3,108.18 WWTP Operator In Training GBU 301 $1,778.64 $1,867.86 $1,961.23 $2,059.32 $2,162.14 $2,270.27 Executive Secretary to the Chief of Police LEMM 330 $2,055.78 $2,158.59 $2,266.14 $2,379.59 $2,498.37 $2,623.64 Police Auxiliary Services Supervisor LEMM 380 $2,637.82 $2,769.59 $2,907.87 $3,053.82 $3,206.28 $3,366.41 Police Commander LEMM 504 $4,895.68 $5,140.91 $5,397.96 $5,667.41 $5,951.05 $6,248.28 Police Lieutenant LEMM 487 $4,498.00 $4,722.55 $4,958.91 $5,207.09 $5,467.09 $5,740.69 Police Office Supervisor LEMM 380 $2,637.82 $2,769.59 $2,907.87 $3,053.82 $3,206.28 $3,366.41 Chief Building Official M 464 $3,931.87 $4,128.26 $4,334.49 $4,551.74 $4,778.84 $5,018.10 City Engineer M 533 $5,547.02 $5,823.93 $6,115.33 $6,421.22 $6,742.16 $7,079.33 Communications Manager M 456 $3,777.77 $3,966.62 $4,165.33 $4,373.31 $4,592.29 $4,821.71 Director of Community Development M 535 $5,602.63 $5,882.45 $6,176.74 $6,485.52 $6,809.94 $7,150.58 Director of Financial Services M 525 $5,329.77 $5,596.26 $5,876.07 $6,169.79 $6,478.57 $6,802.41 Director of Human Resources M 513 $5,020.41 $5,271.26 $5,534.85 $5,811.77 $6,102.01 $6,407.31 Director of Information Technology M 500 $4,705.26 $4,940.47 $5,187.26 $5,446.79 $5,719.08 $6,005.26 Director of Parks & Community Services M 509 $4,921.35 $5,166.98 $5,425.36 $5,696.48 $5,981.51 $6,280.44 Planning Manager M 500 $4,705.26 $4,940.47 $5,187.26 $5,446.79 $5,719.08 $6,005.26 Police Chief M 554 $6,159.36 $6,467.56 $6,790.82 $7,130.31 $7,486.59 $7,860.83 Public Works Operations Director (unlicensed) M 508 $4,896.44 $5,141.49 $5,398.71 $5,668.68 $5,951.96 $6,249.16 Public Works Operations Director (licensed Civil Engineer) M 533 $5,547.02 $5,823.93 $6,115.33 $6,421.22 $6,742.16 $7,079.33 Accountant I MM 322 $1,975.41 $2,074.09 $2,177.50 $2,286.23 $2,400.86 $2,520.82 Accountant II MM 362 $2,411.50 $2,532.05 $2,658.50 $2,791.46 $2,930.91 $3,077.46 Administrative Analyst I MM 358 $2,363.64 $2,481.82 $2,605.91 $2,736.50 $2,873.00 $3,016.59 Administrative Analyst II MM 386 $2,718.18 $2,854.09 $2,996.50 $3,146.59 $3,303.77 $3,468.64 Assistant Engineer MM 392 $2,800.32 $2,940.37 $3,087.50 $3,241.73 $3,404.23 $3,574.41 Associate Civil Engineer MM 453 $3,796.59 $3,986.28 $4,185.41 $4,394.59 $4,614.41 $4,844.87 Associate Planner MM 368 $2,484.77 $2,608.86 $2,739.46 $2,875.96 $3,020.14 $3,170.82 Code Enforcement Supervisor MM 380 $2,637.82 $2,769.59 $2,907.87 $3,053.82 $3,206.28 $3,366.41 Adopted 3/18/2026 Page 3 of 5
City of Madera Full Time Salary Schedule
Effective 3/21/2026
Job Title B/U Range A B C D E F
Bi-Weekly Pay Rate
Communications Specialist MM 358 $2,363.64 $2,481.82 $2,605.91 $2,736.50 $2,873.00 $3,016.59 Construction Inspection Supervisor MM 400 $2,914.37 $3,060.32 $3,213.37 $3,374.09 $3,542.50 $3,719.77 Deputy City Engineer MM 503 $4,871.46 $5,114.91 $5,370.78 $5,639.64 $5,921.50 $6,217.55 Electrical and Facilities Operations Manager MM 421 $3,236.41 $3,398.32 $3,567.91 $3,746.37 $3,933.68 $4,130.46 Engineering Project Manager MM 419 $3,203.91 $3,364.64 $3,532.46 $3,709.14 $3,894.68 $4,089.68 Executive Secretary MM 330 $2,055.78 $2,158.59 $2,266.14 $2,379.59 $2,498.37 $2,623.64 Executive Secretary to City Administrator MM 330 $2,055.78 $2,158.59 $2,266.14 $2,379.59 $2,498.37 $2,623.64 Financial Services Manager MM 446 $3,666.00 $3,849.18 $4,041.82 $4,243.91 $4,456.05 $4,678.82 Fleet Operations Manager MM 404 $2,973.46 $3,121.78 $3,277.77 $3,442.05 $3,614.00 $3,794.82 Grant Administrator MM 446 $3,666.00 $3,849.18 $4,041.82 $4,243.91 $4,456.05 $4,678.82 Grant Analyst MM 358 $2,363.64 $2,481.82 $2,605.91 $2,736.50 $2,873.00 $3,016.59 Human Resources Technician MM 290 $1,684.09 $1,768.00 $1,856.64 $1,949.41 $2,046.91 $2,149.14 Human Resources Technician II MM 310 $1,860.18 $1,953.55 $2,051.05 $2,153.87 $2,261.41 $2,374.27 Network Administrator MM 389 $2,758.96 $2,896.64 $3,041.41 $3,193.87 $3,353.41 $3,521.23 Park Project Manager MM 426 $3,317.96 $3,484.00 $3,658.32 $3,840.91 $4,032.96 $4,234.46 Parks Manager MM 385 $2,704.59 $2,839.32 $2,981.73 $3,130.64 $3,287.23 $3,451.50 Parks Supervisor MM 350 $2,271.46 $2,384.91 $2,504.27 $2,628.96 $2,760.73 $2,898.41 Procurement Services Manager MM 358 $2,363.64 $2,481.82 $2,605.91 $2,736.50 $2,873.00 $3,016.59 Program Manager-Grants MM 366 $2,459.96 $2,582.87 $2,712.27 $2,847.59 $2,990.00 $3,139.50 Recreation/Community Programs Manager MM 390 $2,772.55 $2,911.41 $3,056.77 $3,209.82 $3,369.96 $3,538.96 Recreation/Community Programs Supervisor MM 353 $2,305.73 $2,420.96 $2,541.50 $2,668.55 $2,802.09 $2,942.14 Redevelopment Agency Secretary MM 342 $2,182.23 $2,291.55 $2,406.18 $2,526.14 $2,652.59 $2,785.55 Redevelopment Manager MM 427 $3,334.50 $3,501.14 $3,676.64 $3,860.41 $4,053.05 $4,255.73 Safety Officer MM 358 $2,363.64 $2,481.82 $2,605.91 $2,736.50 $2,873.00 $3,016.59 Senior Civil Engineer MM 483 $4,408.78 $4,629.78 $4,860.82 $5,104.28 $5,358.96 $5,627.23 Senior Planner MM 429 $3,368.18 $3,536.59 $3,713.28 $3,898.82 $4,093.82 $4,298.28 Solid Waste Manager MM 353 $2,305.73 $2,420.96 $2,541.50 $2,668.55 $2,802.09 $2,942.14 Streets & Storm Drainage Ops. Manager MM 421 $3,236.41 $3,398.32 $3,567.91 $3,746.37 $3,933.68 $4,130.46 Streets & Storm Drainage Supervisor MM 350 $2,271.46 $2,384.91 $2,504.27 $2,628.96 $2,760.73 $2,898.41 Tyler Munis Implementation Project Manager MM 408 $3,033.14 $3,185.00 $3,343.96 $3,511.18 $3,686.68 $3,871.05 Utility Billing Supervisor MM 334 $2,097.14 $2,201.73 $2,312.23 $2,427.46 $2,549.18 $2,676.23 Adopted 3/18/2026 Page 4 of 5
City of Madera Full Time Salary Schedule
Effective 3/21/2026
Job Title B/U Range A B C D E F
Bi-Weekly Pay Rate
Waste Water Treatment Plant Manager MM 459 $3,911.82 $4,107.41 $4,312.46 $4,528.14 $4,754.46 $4,992.59 Wastewater Collection System Supervisor MM 346 $2,226.55 $2,337.64 $2,454.64 $2,577.55 $2,706.36 $2,841.68 Water & Sewer Operations Manager MM 423 $3,268.91 $3,432.00 $3,603.96 $3,784.18 $3,973.28 $4,171.82 Water Meter & Conservation Supervisor MM 340 $2,160.96 $2,268.50 $2,381.96 $2,501.32 $2,626.59 $2,757.77 Water System Supervisor MM 385 $2,704.59 $2,839.32 $2,981.73 $3,130.64 $3,287.23 $3,451.50 Crime Analysis Technician MPOA 306 $1,823.55 $1,915.14 $2,010.86 $2,111.32 $2,216.50 $2,327.59 Police Corporal MPOA 395 $2,842.87 $2,984.68 $3,134.18 $3,290.78 $3,455.05 $3,628.18 Police Officer I MPOA 373 $2,547.41 $2,674.46 $2,808.59 $2,948.64 $3,096.37 $3,251.18 Police Officer II MPOA 381 $2,650.82 $2,783.78 $2,931.50 $3,068.59 $3,222.23 $3,383.55 Police Officer Trainee MPOA 363 $2,423.32 $2,544.46 $2,671.50 $2,805.05 $2,945.68 $3,092.82 Police Sergeant MPOA 426 $3,317.96 $3,484.00 $3,658.32 $3,840.91 $4,032.96 $4,234.46 Property & Evidence Officer MPOA 296 $1,734.91 $1,821.77 $1,912.77 $2,008.50 $2,108.96 $2,214.14 Public Safety Dispatcher I MPOA 300 $1,769.77 $1,858.41 $1,951.18 $2,048.68 $2,151.50 $2,259.05 Public Safety Dispatcher II MPOA 341 $2,171.59 $2,280.32 $2,394.36 $2,513.73 $2,639.59 $2,771.37 Records Clerk MPOA 270 $1,523.96 $1,600.18 $1,679.95 $1,764.46 $1,852.50 $1,945.27 Adopted 3/18/2026 Page 5 of 5
Resolution No.

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MADERA

APPROVING A HIRING BONUS PROGRAM FOR ELIGIBLE POSITIONS WHEREAS, the City of Madera (City) has experienced hiring and retention difficulties in the law enforcement professions of Public Safety Dispatcher and Police Officer; and WHEREAS, the City also has sustained vacancies in licensed Civil Engineer positions; and WHEREAS, the City desires to attract and retain experienced Public Safety Dispatchers, Police Officers, and licensed City Engineers to support its workforce and service delivery.

NOW, THEREFORE, THE COUNCIL OF THE CITY OF MADERA hereby resolves, finds, and orders as follows:

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

2. Policy HR-1: Hiring Bonus Program for Eligible Positions, attached as Exhibit A and incorporated herein, is approved.

3. This resolution is effective immediately upon adoption. * * * * * * * * * * * * * *
Exhibit A: Hiring Bonus Program

CITY OF MADERA
Human Resources Policy
Policy No. HR-1
Date Adopted: 3/18/2026
Date(s) Revised:

Subject: Hiring Bonus Program for Eligible Positions
SCOPE
This policy addresses qualifications and parameters of hiring bonuses that may be offered by the City Manager to candidates for eligible positions as approved by the City Council. This policy is complimentary to the City’s Personnel Rules & Regulations and Civil Service Rules in support of recruitment of qualified, experienced candidates and no hiring bonus offer may pre-date the conditional offer of employment.

DEFINITIONS:

Lateral Police Officer Candidate: A Lateral Police Officer Candidate is an applicant for employment that meets the qualifications of the Police Officer II job specification, specifically at least two (2) years of full-time work experience as a sworn police officer for a California law enforcement agency. An individual who meets the requirements for Reinstatement as defined by the City’s Personnel Rules & Regulations is not a Lateral Police Officer Candidate, nor is any applicant for Police Officer who has been employed currently or previously by the City within one year from the date of a conditional offer of employment.

Lateral Public Safety Dispatcher Candidate: A Lateral Public Safety Dispatcher Candidate is an applicant for employment that meets the qualifications of the Public Safety Dispatcher II job specification, specifically at least three (3) years of full-time work experience as a Public Safety Dispatcher or equivalent for a California law enforcement agency. An individual who meets the requirements for Reinstatement as defined by the City’s Personnel Rules & Regulations is not a Lateral Public Safety Dispatcher Candidate, nor is any applicant for Public Safety Dispatcher who has been employed currently or previously by the City within one year from the date of a conditional offer of employment.

Licensed Civil Engineer Candidate: A licensed Civil Engineer is an applicant for employment that holds a Professional Engineer (PE) license issued by the State of California in Civil Engineering and is an applicant for a job classification for which a PE license in Civil Engineering is a required minimum qualification. An individual who meets the requirements for Reinstatement as defined by the City’s Personnel Rules & Regulations is not a Licensed Civil Engineer Candidate, nor is any applicant for a Civil Engineer position who has been employed currently or previously by the City within one year from the date of a conditional offer of employment.

POLICY

1. The City Manager is authorized to offer a hiring bonus to qualified Lateral Police Officer Candidates, Lateral Public Safety Dispatcher Candidates, and Licensed Civil Engineer Candidates. Any hiring bonus offer must be made in conjunction with a Conditional Offer of Employment and must follow established Civil Service, recruitment, and workflow steps and processes. Any offer made, either verbally or in writing, that does not follow established Civil Service, recruitment, and/or workflow steps and processes will be considered null and void and any City employee who attempts to make a hiring bonus offer without following this protocol will be subject to disciplinary action, up to and including termination.

2. Any candidate who accepts a Conditional Offer of Employment that includes a hiring bonus must make a three (3) year commitment to remain employed with and actively working for the City, unless otherwise terminated by the City. Such commitment will be captured in the candidate’s Conditional Offer of Employment and candidate’s acceptance of same.

3. The City Manager is authorized to offer the following hiring bonus, to be paid after the candidate begins employment as follows:
a. A one-time lump sum payment of $15,000.00 at hire to be paid in the first paycheck for the employee, paid in the regularly established pay cycles of the City.
b. After one (1) year of continuous employment, a one-time lump sum payment of $10,000.00 to be paid in the paycheck issued for the pay period in which the employee’s one-year anniversary occurs.
c. After two (2) years of continuous employment, a one-time lump sum payment of $10,000.00 to be paid in the paycheck issued for the pay period in which the employee’s two-year anniversary occurs.

4. Prior to payment of the hiring bonus pursuant to 3b and 3c above, the Human Resources Director shall review the timesheet entries for the applicable employee for the preceding year. For any paid leave of absence greater than two (2) consecutive weeks, or any leave of absence without pay, employee’s hire anniversary date for purposes of the bonus to be paid pursuant to 3b and 3c above will be adjusted by an equivalent duration of time. Such adjustment will be documented in writing by the Director of Human Resources and notice will be provided to the employee, Payroll, and applicable Department Head of the revised hire anniversary date for bonus purposes.

5. For any employee who accepts a hiring bonus and leaves City service prior to completion of their three-year (3-year) commitment, such separation will be documented in the employee’s Personnel File as a negative separation and the individual will not be eligible for rehire or reinstatement with the City of Madera. a. If early separation before completion of the three-year (3-year) commitment is supported by extenuating circumstances, the City Manager may override the negative separation designation. Such extenuating circumstances shall be unexpected, unanticipated, and significantly impact the employee’s ability to continue work for the City of Madera. In such cases, the individual will be eligible for consideration of rehire or reinstatement, however will not be eligible for participation in the hiring bonus program if still offered nor will they receive any hiring bonus not yet earned/paid by the City.

6. This policy will be effective upon adoption by the City Council and will automatically terminate after one (1) year. Any hiring bonus offer made under this policy must occur during the 1-year policy duration; in-process applicants at the 1-year expiration date who have not yet completed steps for a conditional offer of employment will not be eligible for a hiring bonus offer.

REPORT TO CITY COUNCIL
Approved by:
_________________________________
Will Tackett, Community Development Director
_________________________________
Arnoldo Rodriguez, City Manager
SUBJECT:

Initiation of a Text Amendment to the Zoning Regulations of the City Municipal Code to Establish Permitted Color Palettes for New Development and Repainting of Existing Structures in the Commercial Zones
RECOMMENDATION:

Adopt a Resolution of Intention of the City Council of the City of Madera to Initiate Procedure to Amend Chapter 3, Title X of the City Municipal Code Relating to Commercial Zones in Accordance with the Provisions of Section 10-3.1500 et seq. of the City Municipal Code SUMMARY:

At the regularly scheduled meeting of the Madera City Council (Council) on February 18, 2026, the Council, during the Administrative Reports section of its agenda, directed staff to bring forward a Resolution of Intention to Initiate Procedure for consideration of a text amendment to the Zoning Regulations (Chapter 3, Title X) of the City Municipal Code (CMC) regarding permitted color palettes for new development and repainting of existing structures in Commercial Zones.

Pursuant to Section 10-3.1502 of the City Municipal Code, an amendment to the Zoning Regulations may be initiated by the Council by Resolution of Intention and referred to the Planning Commission for public hearing and recommendations to the Council.

Staff is requesting Council adoption of the Resolution of Intention to Initiate Procedure to amend the Zoning Regulations in accordance with the provisions of the City Municipal Code based upon the direction provided by Council at its regularly scheduled meeting held on February 18, 2026.

DISCUSSION:

Council’s direction to staff to bring forward an item for consideration regarding permitted color palettes for new development and repainting of existing structures in Commercial zones followed Council Meeting of: March 18, 2026
Agenda Number: _______ D-2

RETURN TO AGENDA
an Administrative Report presented by Staff at the same regularly scheduled meeting held on February 18, 2026, pertaining to discussion and direction regarding the regulation of paint color for commercial structures. The Administrative Report was presented as a follow up to concerns expressed by the City Council regarding the repainting of commercial structures with colors that distract from the character of the established commercial zones during the Councilmember Reports/Announcement/Future Agenda Items portion of the Council Agenda for the regularly scheduled meeting of the Council held on February 4, 2026.

The City Council discussed the City’s authority under Government Code Section 65850 to adopt regulations, by ordinance, to protect the community's “scenic beauty” and general welfare, including regulation of paint color. The Council direction was to establish standards for certain zone districts through pre-approved palettes of colors for new development and to require administrative approval when repainting existing buildings in Commercial zones with an emphasis on prohibition of certain “nuisance” colors that are garishly bright or psychedelic colors.

Council adoption of a Resolution of Intention to Initiate Procedure to amend the Zoning Regulations will provide legal authorization to staff to pursue Council’s direction to research, analyze, and present recommendations for amendments to the Zoning Regulations for this purpose. In accordance with the Provisions of Section 10-3.1500 et seq. of the Municipal Code, and following adoption of a Resolution of Intention to Initiate Procedure to Amend the Zoning Regulations, staff will:
 Prepare proposed amendments to the Zoning Regulations in the form of a draft ordinance;
 Present said draft ordinance to the Planning Commission for consideration at a public hearing; and,
 Then, return to Council at a noticed public hearing to consider a proposed draft ordinance for adoption in order to amend the Zoning Regulations accordingly.

CALIFORNIA ENVIRONMENTAL QUALITY ACT (CEQA):

The proposed activity has been reviewed for compliance with the requirements of the California Environmental Quality Act (CEQA) Guidelines.

Pursuant to the provisions of Section 15378(b)(5) of the CEQA Guidelines, a “Project” does not include organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment.

Adoption of the proposed Resolution to amend the zoning regulations is a regulatory action required to initiate the procedure to amend the Zoning Regulations of the City Municipal Code and is not an activity which, in and of itself, amend the Zoning Regulations (Ordinance) and therefore does not qualify as Project pursuant to CEQA. As such, no further analysis is required under CEQA at this time.

FINANCIAL IMPACT:

There are no direct financial impacts directly to the City from this proposed action other than the staff time required to prepare this report.

This report does not provide an estimated cost in advance of new Zoning Regulations being adopted or implemented. While some additional costs may ultimately be attributed to new development to implement new standards, compliance and maintenance costs will be borne by developers and commercial property owners and will not result in a financial impact to the City.

The adoption of new standards within the Zoning Regulations may create additional demand on City staff to enforce new regulations, which may result in additional financial responsibility to the City to provide sufficient resources to enforce. However, an amendment to the Zoning Regulations for purposes of addressing the concerns of the Council will codify consistent standards and expectations for commercial property owners and the development community.

ALTERNATIVES:

Should the Council not take action to adopt a Resolution of Intention to Initiate Procedure to Amend the Zoning Regulations in accordance with the Provisions of Section 10-3.1500 et seq. of the City Municipal Code, staff will be unable to proceed with consideration or processing of a text amendment to the City Municipal Code Relating to Permitted Color Palettes for New Development and Repainting of Existing Structures in Commercial Zones.

ATTACHMENTS:

1. Resolution of Intention of the City Council Initiating Procedure to Amend Chapter 3, Title X of the City Municipal Code relating to Permitted Color Palettes for New Development and Repainting of Existing Structures in Commercial Zones.

ATTACHMENT 1
Resolution of Intention of the City Council Initiating Procedure to Amend Chapter 3, Title X of the City Municipal Code relating to Permitted Color Palettes for New Development and Repainting of Existing Structures in Commercial Zones.

RESOLUTION NO. ______

RESOLUTION OF INTENTION OF THE CITY COUNCIL OF THE CITY OF MADERA TO INITIATE PROCEDURE TO AMEND CHAPTER 3, TITLE X OF THE CITY

MUNICIPAL CODE RELATING TO COMMERCIAL ZONES IN ACCORDANCE WITH THE PROVISIONS OF SECTION 10-3.1500 ET SEQ. OF THE CITY

MUNICIPAL CODE
WHEREAS, on February 18, 2026, City of Madera City Council (Council), during the Administrative Reports section of its regularly scheduled meeting, directed staff to bring forward an item regarding Permitted Color Palettes for New Development and Repainting of Existing Structures in Commercial Zones; and
WHEREAS, Government Code Section 65850 provides cities with e authority to adopt regulations to protect the community’s “Scenic beauty” and general welfare, including regulation of paint color; and
WHEREAS, Section 10-3.1500 et seq. of the City Municipal Code contains provisions for amending or changing the Zoning Regulations contained in Chapter 3, Title X of the City Municipal Code whenever the public necessity, convenience, general welfare, or good zoning practices require; and
WHEREAS, City staff is requesting an Initiation of Procedure to amend the text of the Zoning Regulations in accordance with direction provided by Council; and WHEREAS, pursuant to City Municipal Code Section 10-3.1502, initiation of amendments to the Zoning Regulations in Chapter 3, Title X may be made by the Council by resolution and referred to the Planning Commission for public hearing and recommendations to the Council.

NOW, THEREFORE, the City Council of the City of Madera does hereby resolve, find and order as follows:

1. The recitals listed above are true and correct.

2. The Council hereby initiates a zoning text amendment (“ordinance”) to the City Municipal Code relating to Permitted Color Palettes for New Development and Repainting of Existing Structures in Commercial Zones

3. The Resolution is effective immediately upon adoption. *****

REPORT TO CITY COUNCIL
Approved by: Council Meeting of: March 18, 2026
Agenda Number: ___________
________________________________
Joseph Hebert, Parks & Community Services Director
_________________________________
Arnoldo Rodriguez, City Manager
SUBJECT:

Community Cleanup and Employment Pathway Grant
RECOMMENDATION:

Adopt Resolutions:

1. Approving a Restricted Grant Agreement between the State of California, acting by and through its Department of Transportation, referred herein as Caltrans, and the City for the Community Cleanup and Employment Pathway Grant in the amount of $300,000

2. Amending the Fiscal Year 2025/26 Budget, approving related revenue and expenditure line items for the execution of the Restricted Grant Agreement towards Community Cleanup and Employment Pathway Grant objectives
SUMMARY:

On February 19, 2026, the City was notified by Caltrans of being awarded a California Community Cleanup and Employment Pathway (CCEP) allocation in the amount of $300,000 for the “City of Madera Keep Our City Clean” project. The City submitted a proposal on October 31, 2025.

The next steps in order to accept the award include the execution of a Restricted Grant Agreement package between Caltrans and the City. The receipt of new funding will also require the adoption of a budget amendment to provide the appropriation authority to spend the grant.

DISCUSSION:

On September 5, 2025, Caltrans released a Call for Proposalsregarding the CCEP Grant. The grant program is designed to support litter abatement and public space beautification efforts on locally owned public right-of-way, while creating workforce development opportunities for individuals facing barriers to employment.

D-3

RETURN TO AGENDA
Eligible entities that could apply for the CCEP grant include local agencies, tribal governments, transit agencies, and community-based organizations. Key grant program objectives included:
▪ Litter and Graffiti Abatement: Support sustained litter cleanup and graffiti removal on local right-of-way.
▪ Workforce Development: Create transitional employment and training opportunities for vulnerable populations either through partnerships with workforce development organizations or the use of existing employment development departments. ▪ Equity and Inclusion: Prioritize disadvantaged communities and support pathways to community self-sufficiency.
▪ Sustainable Community Engagement: Promote public education and anti-littering campaigns.
▪ Performance timeframe from April 1, 2026, to April 1, 2027.

Taking into consideration the eligible activities and expenses, staff strategically planned to meet the CCEP objectives. The final submitted proposal included the following commitments:
▪ Minimum of 12 community-led cleanup events targeting high-traffic and high-visibility locations throughout the City, including Downtown, shopping centers, alleyways, monumental entryways, and park areas.
▪ Creation of a Keep Our City Clean Team, through partnership with the Madera County Workforce Investment Corporation, to oversee day-to-day operations and community engagement activities.
▪ Greening and beautification projects that target trash receptacle installation, tree and flower plantings.
▪ Minimum of two (2) “Dump Days” in partnership with Mid Valley Disposal for bulky items, e-waste, and hard-to-recycle materials.
▪ Public education campaign promoting “Help Keep Our City Clean” for the duration of the grant performance period.
▪ Painting of City fire hydrants to ensure visibility of hydrants to emergency responders and to maintain the safety of the community.

A highly recommended part of the application included the City agreeing to become a Clean California Community by signing Caltrans’ Community Designation Pledge. The pledge commits the City to creating a community characterized by cleanliness, sustainability, and civic pride. In order for the City to receive this designation, the City would have to complete certain criteria within one year. As part of the grant application, the City submitted the pledge, committing to a minimum of 10 out of the 15 criteria required to meet for the designation. The criteria are as follows below.

1. Sign the Pledge*

2. Advisory Board

3. Community Input*

4. Litter Assessment*

5. Cleanups*

6. Measure Progress*

7. Community Education*

8. Youth Education

9. Infrastructure*

10. Enforcement

11. Long-term Planning*

12. Greening and Beautification*

13. Collection Drives*

14. Partnerships*

15. Cigarette Litter
Items with an asterisk (*) above are the criteria identified by the City as criteria that the City will target to meet for the Clean California Community designation.

As part of the grant application, City staff reached out to several key partners and stakeholders to request letters of support. Letters of support were received from the following listed below and included in the proposal to Caltrans:
▪ Madera County Department of Public Health
▪ Madera County Economic Development Commission
▪ Madera County Sherriff’s Office
▪ Madera County Transportation Commission
▪ Madera County Workforce Investment Corporation
▪ Madera Irrigation District
▪ Madera Unified School District
▪ Mid Valley Disposal
▪ Realty World Real Estate Professionals
▪ California Conservation Corps – Fresno Chapter
FINANCIAL IMPACT:

The $300,000 CCEP grant program award is derived entirely from the signature initiative under the Clean California Program, administered by Caltrans. The City developed the CCEP grant budget as listed in Table 1, and as requested by Caltrans for types of eligible activities.

Table 1: CCEP Grant Proposed Budget
Activity Description Estimated
Cost
Employment/
Workforce
Development
Stipends for Keep Our City Clean Team
recruitment through Workforce Investment Board; also
for workforce training, certifications, and safety courses. $105,000
Cleanup Activities Tools, equipment, safety gear, litter bags, gloves, graffiti removal supplies; waste hauling and disposal fees; event setup costs.
$15,000
Beautification and
Infrastructure
Purchase and installation of trash receptacles, tree and flower plantings, gardens, irrigation support, and
Downtown greening projects. Fire hydrant paint project. $152,000
Public Engagement
and Education
Expansion of “Help Keep Our City Clean” campaign; flyers, signage, branded t-shirts/stickers, event booths at events. $28,000
Total $300,000
The City listed $15,000 in matching funds, with eligible contribution activities being City staff time, volunteer labor, use of City facilities and equipment. In addition to the “in-kind” match contribution made by the City, various partners have committed the following resources through letters of support.
▪ Mid Valley Disposal services for Dump Days.
▪ California Conservation Corps is committed to providing support for clean-up events and beautification efforts.
▪ The Madera County Sheriff’s Office is committed to assisting with public outreach and safety coordination during clean-up events, promoting community participation through established communication channels, and providing volunteer support from staff and community service teams when available.
▪ Madera Irrigation District is committed to providing staffing, assisting with outreach, and volunteer engagement.
▪ Realty World Real Estate Professionals have committed to providing volunteer work and promoting events with staff, clients, and the community.

Staff would like to note that the CCEP is a reimbursement-based grant program, and reimbursable work cannot commence on a program until a fully executed Restricted Grant Agreement has been secured.

As this grant was not included in the Fiscal Year 2025/26 Adopted Budget, staff is requesting approval of a budget amendment to account for the expected expenses associated with the implementation of the grant’s objectives.

ALTERNATIVES:

Council may choose not to accept the $300,000 CCEP award and reject entering into the Restricted Grant Agreement. All activities and commitments by the City related to the CCEP proposal would not be carried out.

Council may choose to request additional information be brought forth at a later meeting. This action may delay the execution of the Restricted Grant Agreement, affecting allowable reimbursement for eligible activities.

ATTACHMENTS:

1. Resolution Approving a Restricted Grant Agreement between the State of California, acting by and through its Department of Transportation, referred herein as Caltrans, and the City of Madera for the Community Cleanup and Employment Pathway Grant in the amount of $300,000
a. Exhibit A: Restricted Grant Agreement

2. Resolution adopting a budget amendment, amending the Fiscal Year 2025/26 Budget for related revenue and expenditure line items associated with the Community Cleanup and Employment Pathway Grant objectives
a. Exhibit A: Budget Amendment

3. Community Designation Checklist
ATTACHMENT 1
Resolution Approving a Restricted Grant Agreement, excluding Exhibits II and IV, between the State of California, acting by and through its Department of Transportation, referred herein as Caltrans, and the City of Madera for the Community Cleanup and Employment Pathway Grant in the amount of $300,000
Exhibit A: Restricted Grant Agreement
RESOLUTION NO. 26 - _______

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MADERA,

CALIFORNIA APPROVING RESOLUTION APPROVING A RESTRICTED GRANT

AGREEMENT BETWEEN THE STATE OF CALIFORNIA, ACTING BY AND

THROUGH ITS DEPARTMENT OF TRANSPORTATION, REFERRED HEREIN AS

CALTRANS, AND THE CITY OF MADERA FOR THE COMMUNITY CLEANUP AND EMPLOYMENT PATHWAY GRANT IN THE AMOUNT OF $300,000
WHEREAS, on September 5, 2025, Caltrans released a Call for Proposals: Clean California Community Clean Up and Employment Pathway (CCEP) Grant; and WHEREAS, this initiative is part of Governor Newsom’s Clean California effort to beautify public spaces, remove litter, and provide meaningful employment opportunities across the state; and
WHEREAS, taking into consideration the eligible activities and expenses, staff strategically planned to meet the CCEP objectives; and
WHEREAS, the City submitted a proposal requesting $300,000 in grant funding towards CCEP objectives; and
WHEREAS, Caltrans has reached out to the City to confirm the award of $300,000; and WHEREAS, in order to accept the award, the City and Caltrans must execute a Restricted Grant Agreement; and
WHEREAS, material terms of the Restricted Grant Agreement exclude Exhibits II and IV; and
WHEREAS, the City wishes to enter into the Restricted Grant Agreement for the $300,000 grant award under the Clean California Community Clean Up and Employment Pathway Grant.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MADERA HEREBY finds, orders, and resolves as follows:

1. The above recitals are true and correct.

2. The Restricted Grant Agreement, in the amount of $300,000 under the Clean California Community Clean Up and Employment Pathway Grant, is approved, a copy of which is attached hereto as Exhibit A and referred to for particulars.

3. This Resolution is effective immediately upon adoption. *******
Exhibit A: Restricted Grant Agreement
City of Madera
Agreement Number 06-CCEP-05
AMS ADV ID: 0626000193

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Clean California Local Grant Program (State)
Restricted Grant Agreement
This Restricted Grant Agreement (RGA), between the State of California acting by and through its Department of Transportation, referred to herein as CALTRANS, and the City of Madera, hereinafter referred to as AGENCY, will commence on April 1, 2026, or upon approval by CALTRANS, whichever occurs later. This RGA is of no effect unless approved by CALTRANS.

AGENCY shall not receive payment for work performed prior to approval of this RGA and before receipt of Notice to Proceed from CALTRANS. This RGA shall expire on November 1, 2027.

Recitals

1. Under this RGA, CALTRANS intends to convey State restricted grant funds to AGENCY, pursuant to Budget Act Line Item 2660-130-0001, who will implement the project pursuant to the attached Approved Grant Application and Amendment(s) to Grant Application, Attachment III under the terms, covenants, and conditions of this RGA.

2. CALTRANS and AGENCY intend that only funds that are authorized as restricted grants will be subject to this RGA, and that no funds that should be the subject of a Joint Powers Agreement, Interagency Agreement, or other non-grant agreement shall be subject to this RGA.

3. WHEREAS, the Clean CA Program, through its Clean CA Local Grants Program, is authorized under California Streets and Highways Code Section 91.41 to provide funding and resources to support local projects that advance the program's goals and objectives;

4. WHEREAS, California Streets and Highways Code Section 91.41 provides the legislative authority for the Clean CA Program to advance the following intent and objectives:
a. Reduce Waste and Beautify Public Spaces: The primary goal of the program is to allocate grants to local and regional public agencies, transit agencies, and tribal governments to reduce waste and debris within public rights-of-way, tribal lands, parks, pathways, transit centers, and other public spaces. The program aims to enhance, rehabilitate, restore, or install measures to beautify and improve these public spaces. b. Improve Public Health and Community Placemaking: The program seeks to enhance public health, cultural connection, and community placemaking by improving public spaces for walking and recreation. By investing in the improvement of these spaces, it aims to create a positive and welcoming environment for the community. c. Promote Equity for Underserved Communities: The program places a strong emphasis on advancing equity for underserved communities.
d. Support Sustainable Practices: The program encourages the implementation of sustainable practices in the beautification and enhancement of public spaces. This includes greening efforts, such as providing shade and reducing the urban heat island effect, as well as using native, low-water plants.
e. Engage Local Communities: The program promotes community engagement by requiring project proposals to reflect community priorities. It encourages the involvement of local communities in the development and selection of projects to ensure they meet the needs and preferences of the affected population.
f. Prohibit Displacement of Persons Experiencing Homelessness: The program prohibits grants from funding projects that displace persons experiencing homelessness. This City of Madera
Agreement Number 06-CCEP-05
AMS ADV ID: 0626000193

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reflects the intention to address public space improvements without negatively impacting vulnerable populations.
g. Transparent and Efficient Grant Allocation: The program requires the program to issue a call for projects and announce grant awards. The guidelines for allocating grants must include project selection criteria and program evaluation metrics.

5. WHEREAS, the purpose of this RGA is to authorize Caltrans districts to enter into agreements with local agencies to support the development, implementation, and funding of local agencies partnership projects that align with the goals and priorities of the Clean CA Program and comply with California Streets and Highways Code Section 91.41;

6. WHEREAS, this RGA establishes a framework for Caltrans districts to provide financial contributions and other assistance to local agencies, fostering effective collaboration and coordination to deliver successful transit partnership projects;

7. WHEREAS, this RGA emphasizes transparency, objective evaluation, and fair allocation of resources, ensuring that projects scoring higher based on established criteria receive prioritization for funding and implementation;

8. WHEREAS, the Clean CA Program facilitates collaboration between Caltrans districts and local agencies to support litter abatement and public space beautification efforts on locally owned public right-of-way while creating workforce development opportunities for individuals facing barriers to employment that align with the goals and priorities of the Clean CA Program and comply with California Streets and Highways Code Section 91.41;

9. WHEREAS, the Clean CA Program, in partnership with Caltrans districts, seeks to enhance local right-of-way areas to address waste management challenges, graffiti mitigation, and public space beautification, thereby contributing to create cleaner, safer, and more equitable public spaces throughout California;

10. WHEREAS, the Clean CA Program, established by the State of California, is a transformative initiative which promotes sustainable transportation alternatives, reducing greenhouse gas emissions, and combatting climate change to improve the overall quality of life for residents and visitors of California;

11. WHEREAS, the Clean CA Program envisions a comprehensive approach to address transportation challenges, enhance transit infrastructure, and support local agencies in their efforts to create efficient, safe, and environmentally friendly transit options;

12. NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the Parties enter into this RGA to advance the purpose and intent of the Clean CA transit initiative, harnessing the legislative authority provided under California Streets and Highways Code Section 91.41, and collaborating on transit partnership projects that contribute to a sustainable, innovative, and well-connected transportation network throughout the State of California.

Now, Therefore, based upon the terms, covenants, and conditions of this RGA, the parties agree as follows:

Section I
AGENCY Agrees:

To timely and satisfactorily complete all Project work described in Attachment III (“Project Work”) within the project budget and in accordance with the items of this RGA.

City of Madera
Agreement Number 06-CCEP-05
AMS ADV ID: 0626000193

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Section ll
CALTRANS Agrees:

That when conducting an audit of the costs claimed by AGENCY under the provisions of this RGA, to conduct the audit in accordance with applicable laws and regulations.

Section lII
It Is Mutually Agreed:

1. Under this RGA, CALTRANS will convey State grant restricted funds to AGENCY, pursuant to Budget Act Line Item 2660-130-0001, and AGENCY will use the funds to only conduct the scope of work identified in this agreement and authorized by Streets and Highway Code section 91.41 The funds subject to this RGA must be identified as available to a public entity that is responsible for implementing the scope of work authorized under the Clean California Program in CALTRANS’ budget, and AGENCY represents and warrants that it is a public entity that is responsible for implementing the scope of work authorized under the Clean California Program.

2. Under this restricted grant, funds may be only used for the purposes set forth in this RGA, AGENCY Resolution (Attachment IV), Approved Grant Application and Amendment(s) to Grant Application (Attachment III), and the Grant Program Guidelines (Attachment I), and the funds may only be used for costs and expenses that are directly related to such purpose.

3. AGENCY shall perform all the duties and obligations described in City of Madera Keep Our City Clean project hereinafter “Project”, subject to the terms and conditions of this RGA and Approved Grant Application and Amendment(s) to Grant Application (Attachment III), which are attached hereto as Attachment III.

4. The resolution authorizing AGENCY to execute this RGA pertaining to the above-described Project is attached hereto as Attachment IV.

5. All services performed by AGENCY pursuant to this RGA shall be subject to and performed in accordance with California Streets and Highways Code §91.41 including, but not limited to, Government Code Section 14460(a)(1), as well as all applicable Federal, State, and Local laws, regulations, and ordinances, all applicable CALTRANS policies and procedures, and all applicable CALTRANS published manuals, including, but not limited to, the Grant Program Guidelines (Attachment I).

California Government Code Section 14460(a)(1) provides: “The department [CALTRANS], and external entities that receive state and federal transportation funds from the department, are spending those funds efficiently, effectively, economically, and in compliance with applicable state and Federal requirements. Those external entities include, but are not limited to, private for profit and nonprofit organizations, local transportation agencies, and other local agencies that receive transportation funds either through a contract with the department or through an agreement or grant administered by the department.”
City of Madera
Agreement Number 06-CCEP-05
AMS ADV ID: 0626000193

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6. Project funding is as follows:

Fund Title Fund Source Dollar Amount
Clean California Funds State General Fund (0001)
Budget Item 2660-130-0001
State Program Code

20.30.010.900
FY 2025/26 $300,000.00
$300,000.00
Local Match Local Match $ 15,000.00
Total Project Cost $315,000.00
For Caltrans Use Only
I hereby Certify upon my own personal knowledge that budgeted funds are available for encumbrance.

Accounting Officer Printed
Name
Accounting Officer
Signature
Date Amount Certified

7. This RGA is exempt from the legal review and approval by the Department of General Services, pursuant to Legal Opinions of the Attorney General: 58 Ops. Cal. Atty. Gen. 586 (1975), 63 Ops.

Cal. Atty. Gen. 290 (1980), 74 Ops. Cal. Atty. Gen. 10 (1991), and 88 Ops. Cal. Atty. Gen. 56.

8. Notification of Parties
a. AGENCY’s Project Manager for Project is Arnoldo Rodriguez @ 559-661-5402. b. CALTRANS’ District Partnership Primary Liaison is Jennifer Nishikawa @ 559-824-9501 and secondary Liaison is Rene Sanchez @ 559-906-0627, “District Partnership Liaison” as used herein includes his/her designee.
c. All notices herein provided to be given, or which may be given, by either party to the other, shall be deemed to have been fully given when made in writing and received by the parties at their respective addresses:

City of Madera
Attention: Arnoldo Rodriguez, City Manager
Phone Number: 559-661-5402
Email: [email protected]
205 W. 4th Street
Madera, California 93637
California Department of Transportation, District Partnership Liaison (District 6/Clean California)
Attention: Jennifer Nishikawa, Office Chief, D6 Maintenance Phone Number: (559) 824-9501
[email protected]
City of Madera
Agreement Number 06-CCEP-05
AMS ADV ID: 0626000193

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1352 W. Olive Ave
Fresno, California 93728

9. Period of Performance
a. Reimbursable work under this RGA shall begin no earlier than on April 1, 2026, following the written approval of CALTRANS and AGENCY’s receipt of the Notice to Proceed letter of this RGA by CALTRANS. All reimbursable work shall terminate no later than November 1, 2027.

Project closeout and final invoicing to CALTRANS must be submitted no later than June 30, 2027. Work incurred after November 1, 2027, will not be reimbursed. Payment shall be forfeit for any and all invoicing submitted to CALTRANS after November 1, 2027. Notwithstanding the foregoing, Caltrans will reimburse for actual close out costs incurred by AGENCY through November 1, 2027 (which, in total, shall not exceed 5% of the grant award). b. If requested by the CALTRANS District Partnership Liaison, AGENCY will attend a kickoff meeting with CALTRANS to be scheduled within one (1) week from receipt of Notice to Proceed sent by CALTRANS.

10. Changes in Terms/Amendments
This Agreement may only be amended or modified by mutual written agreement of the parties.

11. Cost Limitation
a. The maximum total amount granted and reimbursable to AGENCY pursuant to this RGA by CALTRANS shall not exceed $300,000.00.
b. It is agreed and understood that the Clean CA funds are limited to the amount granted.

CALTRANS will only reimburse the cost of services actually incurred in accordance with the provisions of this RGA and as authorized by the CALTRANS District Partnership Liaison at or below that fund limitation established herein.

12. Termination
a. CALTRANS reserves the right to terminate this RGA upon written notice to AGENCY at least 30 days in advance of the effective date of such termination in the event CALTRANS determines (at its sole discretion) that AGENCY failed to proceed with PROJECT Work in accordance with the terms of this RGA. In the event of termination for convenience, CALTRANS will reimburse AGENCY for all allowable, authorized, and non-cancelled costs up to the date of termination.

AGENCY shall return any unused advance amounts which cannot be supported by eligible expenditure documentation.
b. This RGA may be terminated by either party for any reason by giving written notice to the other party at least 30 days in advance of the effective date of such termination. In the event of termination for convenience, CALTRANS will reimburse AGENCY for all costs that are expressly allowable, pre-authorized in writing, and non-cancellable, up to the date of termination. c. AGENCY has 60 days after the Termination Date to submit accurate invoices to CALTRANS to make final allowable payments for Project costs in accordance with the terms of this RGA.

Failure to submit invoices within this period of time shall result in a waiver by AGENCY of its right to reimbursement of expended costs. Costs that are reimbursed and later determined to be ineligible for reimbursement shall be returned by AGENCY to CALTRANS.

13. Budget Contingency Clause
a. It is mutually agreed that if the US Congress or the State Legislature fail to appropriate or allocate funds during the current year and/or any subsequent years covered under this RGA do City of Madera
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AMS ADV ID: 0626000193

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not appropriate sufficient funds for the program, this RGA shall be of no further force and effect.

In this event, CALTRANS shall have no liability to pay any funds whatsoever to AGENCY or to furnish any other considerations under this RGA and AGENCY shall not be obligated to perform any provisions of this RGA.
b. The certification of FY 2025/26 funds will be contingent upon the passage of the FY 2025/26 Budget. Payment for any work performed that is funded by FY 2025/26 will be delayed if the FY 2025/26 Budget is not signed by June 30, 2025. Pursuant to Government Code (GC), Section 926.10, no late payment penalty shall accrue during any time period for which no Budget Act in effect. If funding for any fiscal year is reduced or deleted by US Congress or State Legislature for purposes of this program, CALTRANS shall have the option to either terminate this RGA with no liability occurring to CALTRANS or offer an RGA Amendment to AGENCY to reflect reduced amount.

14. Payment and Invoicing
a. AGENCY, its contractors, subcontractors and sub-recipients, shall establish and maintain an accounting system and records that properly accumulate and segregate incurred Project costs and matching funds by line. The accounting system of AGENCY, its contractors, all subcontractors, and sub-recipients shall conform to Generally Accepted Accounting Principles (GAAP) and any standards specified by the source of funds, to enable the determination of incurred costs at interim points of completion, and to provide support for reimbursement payment vouchers or invoices.
b. The method of payment for this RGA will be based on the actual allowable costs that are incurred in accordance with the provisions of this RGA and in the performance of the Approved Grant Application and Amendment(s) to Grant Application (Attachment III). CALTRANS will reimburse AGENCY for expended actual allowable direct costs, and including, but not limited to, labor costs, travel, and contracted consultant services costs incurred by AGENCY in performance of the Project Work. Indirect costs are reimbursable only if the AGENCY has identified the estimated indirect cost rate in Attachment II and an approved Indirect Cost Allocation Plan or an Indirect Cost Rate Proposal as set forth in Section III–Cost Principles, Item 16d. The total cost shall not exceed the cost reimbursement limitation set forth in Section III–Cost Limitations, Item 11a. Actual costs shall not exceed the estimated wage rates, labor costs, travel, and other estimated costs and fees set forth in Attachment III without an amendment to this RGA, as agreed between CALTRANS and AGENCY. c. Reimbursement of AGENCY expenditures will be authorized only for those allowable costs actually incurred by AGENCY in accordance with the provisions of this RGA and in the performance of Project Work. AGENCY must not only have incurred the expenditures on or after the start date and the issuance of the Notice to Proceed letter for this RGA and before the Expiration Date but must have also paid for those costs to claim any reimbursement. d. The AGENCY indirect cost rate must be approved in writing by the California Department of Transportation Independent Office of Audits and Investigations or federal cognizant agency before any reimbursement payment is made by CALTRANS to AGENCY for such cost. e. Travel expenses and per diem rates are not to exceed the rate specified by the State of California Department of Human Resources for similar employees (i.e. non-represented employees) unless written verification is supplied that government hotel rates were not then commercially available to AGENCY, its subrecipients, contractors, and/or subcontractors, at the time and location required as specified in the California Department of Transportation's Travel Guide Exception Process at the following link: https://travelpocketguide.dot.ca.gov/.

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Also see website for summary of travel reimbursement rules. f. AGENCY shall submit invoices to CALTRANS at least quarterly, but no more frequently than monthly, in arrears upon completion of project tasks, milestone and/or deliverables in accordance with the Project Timeline in Attachment III to the satisfaction of CALTRANS District Partnership Liaison
g. Invoices shall reference this RGA Number and shall be signed and submitted to CALTRANS District Partnership Liaison, as stated in Section III–Notification of Parties, Item 8c. h. Invoices shall include the following information:
1) Names of the AGENCY personnel performing work
2) Dates and times of Project Work
3) Locations of Project Work
4) Itemized costs as set forth in Attachment III, including identification of each employee, contractor or subcontractor staff who provided services during the period of the invoice, the number of hours and hourly rates for each employee, contractor, sub-recipient or subcontractor staff member, authorized travel expenses with receipts, receipts for authorized materials or supplies, and contractor, subrecipient and subcontractor invoices. 5) AGENCY shall submit written progress reports with each set of invoices to allow CALTRANS District Partnership Liaison to determine if AGENCY is performing to expectations, is on schedule, is within funding cost limitations, to communicate interim findings, and to afford occasions for airing difficulties respecting special problems encountered so that remedies can be developed.
i. Incomplete or inaccurate invoices shall be returned to the AGENCY unapproved for correction.

Failure to submit invoices on a timely basis may be grounds for termination of this RGA for material breach per Section III–Termination, Item 12.
j. CALTRANS will reimburse AGENCY for all allowable Project costs at least quarterly, but no more frequently than monthly, in arrears as promptly as CALTRANS fiscal procedures permit upon receipt of an itemized signed invoice.
k. The RGA Expiration Date refers to the last date for AGENCY to incur valid Project costs or credits and is the date this RGA expires. AGENCY has until June 30, 2027, to make final allowable payments to Project contractors or vendors, and November 1, 2027, to submit the Project’s Final Report, as defined in Attachment I and a final invoice to CALTRANS for reimbursement for allowable Project costs. Any unexpended Project funds not invoiced by the 60th day will be reverted and will no longer be accessible to reimburse late Project invoices contractor.
l. The final invoice will be paid upon submission by AGENCY to CALTRANS and acceptance by CALTRANS of the Final Delivery Report. Complete final delivery reports and invoices must be submitted to CALTRANS by November 1, 2027.

15. Quarterly Progress Reporting
a. AGENCY shall submit written quarterly progress reports to the CALTRANS District Partnership Liaison to determine if AGENCY is performing to expectations, is on schedule, is within funding cost limitations, to communicate interim findings, and to afford occasions for airing difficulties respecting special problems encountered so that remedies can be developed.

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16. Cost Principles
a. AGENCY agrees to comply with Title 2, Code of Federal Regulations (CFR), Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
b. AGENCY agrees, and will assure that its contractors, sub-recipients, in-kind contributors, and subcontractors will be obligated to agree, that (a) Contract Cost Principles and Procedures, 48 CFR, Federal Acquisition Regulations System, Chapter 1, Part 31, et seq., shall be used to determine the allowability of individual Project cost items and (b) and (b) all parties shall comply with Federal administrative procedures in accordance with 2 CFR, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.

Every sub-recipient receiving Project funds as a sub-recipient, contractor, or subcontractor under this RGA shall comply with Federal administrative procedures in accordance with 2 CFR, Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards to the extent applicable. c. Any Project costs for which AGENCY has received payment or credit that are determined by subsequent audit to be unallowable under 2 CFR, Part 200, and/or Part 48, Chapter 1, Part 31, are subject to repayment by AGENCY to CALTRANS. Should AGENCY fail to reimburse moneys due CALTRANS within 30 days of discovery or demand, or within such other period as may be agreed in writing between the parties hereto, CALTRANS is authorized to intercept and withhold future payments due AGENCY from CALTRANS or any third-party source, including, but not limited to, the State Treasurer, the State Controller or any other fund source.
d. Prior to AGENCY seeking reimbursement of indirect costs, AGENCY must have identified estimated indirect cost rate in Attachment II, prepare and submit annually to CALTRANS for review and approval an indirect cost rate proposal and a central service cost allocation plan (if any) in accordance with 2 CFR, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and Chapter 5 of the Local Assistance Procedures Manual which may be accessed at: https://dot.ca.gov/-/media/dotmedia/programs/local-assistance/documents/lapm/ch05.pdf e. AGENCY agrees and shall require that all its agreements with consultants and subrecipients contain provisions requiring adherence to this section in its entirety except for section c, above.

17. Americans with Disabilities Act
By signing this Agreement, AGENCY assures CALTRANS that in the course of performing Project Work, it will fully comply with the applicable provisions of the Americans with Disabilities Act (ADA) of 1990, as amended, which prohibits discrimination on the basis of disability, as well as all applicable regulations and guidelines issued pursuant to the ADA (42 USC Section 12101 et seq.).

18. Iran Contracting Act
AGENCY must complete and submit to CALTRANS the Iran Contracting Act Certification certifying that it is not on the most current DGS list of Entities Prohibited from Contracting with Public Entities in California per the Iran Contracting Act, 2010 (https://www.dgs.ca.gov/PD/Resources/PageContent/Procurement-Division-Resources-List-Folder/List-of-Ineligible-Businesses), before the Agreement has been executed, unless Contractor is exempted from the certification requirement by Public Contract Code Section 2205(c) or (d). If claiming an exemption, the proposed Contractor City of Madera
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shall provide written evidence that supports an exemption under Public Contract Code Section 2203(c) or (d) before execution of the Agreement.

19. Indemnification
a. Neither CALTRANS nor any officer or employee thereof is responsible for any injury, damage, or liability occurring by reason of anything done or omitted to be done by AGENCY, its officers, employees, agents, its contractors, its subrecipients, or its subcontractors under or in connection with any work, authority, or jurisdiction conferred upon AGENCY under this RGA.

It is understood and agreed that AGENCY shall fully defend, indemnify, and save harmless CALTRANS and all of CALTRANS’ officers and employees from all claims, suits, or actions of every name, kind, and description brought forth under, including, but not limited to, tortuous, contractual, likeness statutes under California Civil Code §§ 3344 and 3344.1, inverse condemnation, or other theories or assertions of liability occurring by reason of anything done or omitted to be done by AGENCY, its officers, employees, agents, contractors, subrecipients, or subcontractors under this RGA.
b. AGENCY agrees to fully defend, indemnify, and save harmless CALTRANS and all of its officers and employees from any and all claims, lawsuits, or legal actions, including reasonable attorneys’ fees and legal costs, relating to intellectual property claims arising from or related to the Project and/or any work procured under this RGA, including but not limited to claims based on (1) U.S. federal or state trademark infringement laws, (2) patent infringement laws (3) 17 U.S.C. §§ 101-810 (the Copyright Act of 1976, as modified), (4) 17 U.S.C. § 106A(a) (the Visual Artists Rights Act of 1990, “VARA”), (5) 17 U.S.C. § 113, (6) California Civil Code § 987 (the California Art Preservation Act), California Civil Code §989, or (7) any other rights arising under U.S. federal or state laws or under the laws of any other country that conveys rights and protections of the same nature as those conveyed under 17 U.S.C. §106A(a) and California Civil Code §987, including intellectual property claims arising from or related to breach of contract, inverse condemnation, conversion, and/or taking of property.

20. Nondiscrimination Clause (2 CCR 11105 Clause b)
a. During the performance of this RGA, the AGENCY, its contractors, its subrecipients, and its subcontractors shall not deny the contract's benefits to any person on the basis of race, religious creed, color, national origin, ancestry, physical disability, mental disability, medical condition, genetic information, marital status, sex, gender, gender identity, gender expression, age, sexual orientation, or military and veteran status, nor shall they discriminate unlawfully against any employee or applicant for employment because of race, religious creed, color, national origin, ancestry, physical disability, mental disability, medical condition, genetic information, marital status, sex, gender, gender identity, gender expression, age, sexual orientation, or military and veteran status. AGENCY shall ensure that the evaluation and treatment of employees and applicants for employment are free of such discrimination. b. AGENCY shall comply with the provisions of the Fair Employment and Housing Act (Gov. Code Sections 12900 et seq.), the regulations promulgated thereunder (California Code of Regulations, Title 2, Sections 11000 et seq.), the provisions of Article 9.5, Chapter 1, Part 1, Division 3, Title 2 of the Government Code (Gov. Code Sections 11135-11139.5), and the regulations or standards adopted by CALTRANS to implement such article. c. AGENCY shall permit access by representatives of the Department of Fair Employment and Housing and CALTRANS upon reasonable notice at any time during the normal business hours, but in no case less than 24 hours' notice, to such of its books, records, accounts, and all other City of Madera
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sources of information and its facilities as said Department or CALTRANS shall require to ascertain compliance with this clause.
d. AGENCY and its contractors, its sub-recipients, and its subcontractors shall give written notice of their obligations under this clause to labor organizations with which they have a collective bargaining or other agreement.
e. AGENCY shall include the nondiscrimination and compliance provisions of this clause in all agreements with its sub-recipients, contractors, and subcontractors, and shall include a requirement in all agreements with all of same that each of them in turn include the nondiscrimination and compliance provisions of this clause in all contracts and subcontracts they enter into to perform work under this RGA.

21. Retention of Records/Audits
a. AGENCY, its contractors, subcontractors, and sub-recipients, agree to comply with Title 2, Code of Federal Regulations (CFR), Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
b. AGENCY, its contractors, subcontractors, and sub-recipients shall establish and maintain an accounting system and records that properly accumulate and segregate incurred Project costs and matching funds by line. The accounting system of AGENCY, its contractors, all subcontractors, and sub-recipients shall conform to Generally Accepted Accounting Principles (GAAP), enable the determination of incurred costs at interim points of completion, and provide support for reimbursement payment vouchers or invoices. All accounting records and other supporting papers of AGENCY, its contractors, subcontractors and sub-recipients connected with Project performance under this RGA shall be maintained for a minimum of three (3) years from the date of final payment to AGENCY and shall be held open to inspection, copying, and audit by representatives of CALTRANS, the California State Auditor, and auditors representing the federal government. Copies thereof will be furnished by AGENCY, its contractors, its subcontractors, and sub-recipients upon receipt of any request made by CALTRANS or its agents. In conducting an audit of the costs and match credits claimed under this RGA, CALTRANS will rely to the maximum extent possible on any prior audit of AGENCY pursuant to the provisions of State and AGENCY law. In the absence of such an audit, any acceptable audit work performed by AGENCY’s external and internal auditors may be relied upon and used by CALTRANS when planning and conducting additional audits. c. For the purpose of determining compliance with applicable State and AGENCY law in connection with the performance of AGENCY’s contracts with third parties pursuant to Government Code Section 8546.7, AGENCY, AGENCY’s sub-recipients, contractors, subcontractors, and CALTRANS, shall each maintain and make available for inspection all books, documents, papers, accounting records, and other evidence pertaining to the performance of such contracts, including, but not limited to, the costs of administering those various contracts. All of the above referenced parties shall make such materials available at their respective offices at all reasonable times during the entire Project period and for three (3) years from the date of final payment to AGENCY under this RGA. CALTRANS, the California State Auditor, or any duly authorized representative of CALTRANS or the United States Department of Transportation, shall each have access to any books, records, and documents that are pertinent to a Project for audits, examinations, excerpts, and transactions, and AGENCY shall furnish copies thereof if requested. d. AGENCY, its subrecipients, contractors, and subcontractors will permit access to all records of employment, employment advertisements, employment application forms, and other pertinent City of Madera
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data and records by the State Fair Employment Practices and Housing Commission, or any other agency of the State of California designated by CALTRANS, for the purpose of any investigation to ascertain compliance with this RGA.
e. Additionally, all grants may be subject to a pre-award audit prior to execution of this RGA to ensure AGENCY has an adequate financial management system in place to accumulate and segregate reasonable, allowable and allocable costs.
f. Any contract with a contractor, subcontractor, or sub-recipient entered into as a result of this RGA shall contain all the provisions of this article.

22. Adjudication of Facts in Disputes
a. Any dispute concerning a question of fact arising under this RGA that is not disposed of by agreement shall be decided by the CALTRANS Contract Officer, who may consider any written or verbal evidence submitted by AGENCY. The CALTRANS Contract Officer shall issue a written decision within 30 days of receipt of the dispute. If AGENCY rejects the decision of the CALTRANS Contract Officer, AGENCY can pursue any and all remedies authorized by law. Neither party waives any rights to pursue remedies authorized by law.
b. Neither the pendency of a dispute nor its consideration by CALTRANS Contract Officer will excuse AGENCY from full and timely performance in accordance with the terms of this RGA.

23. Third-Party Contracts
a. AGENCY shall perform the work contemplated with resources available within its own organization and no portion of the work shall be contracted to a third party without prior written authorization by the CALTRANS District Partnership Liaison unless expressly included (subrecipient identified) in Attachment III as Project Work. b. All State-government-funded procurements must be conducted using a fair and competitive procurement process. AGENCY may use its own procurement procedures as long as the procedures comply with the local AGENCY’s laws, rules, and ordinances governing procurement and all applicable provisions of State law, including, without limitation, the requirement that the AGENCY endeavor to obtain at least three (3) competitive bids for solicitation of goods, services, and consulting services (see Part 2, Chapter 2, Articles 3 and 4 of the Public Contract Code); a qualifications-based solicitation process, for which statements of qualifications are obtained from at least three (3) qualified firms for architecture and engineering services (see Title 1, Division 5, Chapter 10 of the Government Code); and, the applicable provisions of the State Contracting Manual (SCM), Chapter 5, which are not inconsistent with this Item 23, Third Party Contracts. The SCM can be found and the following link: https://www.dgs.ca.gov/OLS/Resources/PageContent/Office-of-Legal-Services-Resources-List-Folder/State-Contracting. c. Any contract entered into as a result of this RGA shall contain all the provisions stipulated in this RGA to be applicable to AGENCY’s sub-recipients, contractors, and subcontractors.

Copies of all agreements with sub-recipients, contractors, and subcontractors, must be submitted to the CALTRANS District Partnership Liaison. d. CALTRANS does not have a contractual relationship with the AGENCY’s subrecipients, contractors, or subcontractors, and the AGENCY shall be fully responsible for all work performed by its subrecipients, contractors, or subcontractors.

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e. Prior authorization in writing by the CALTRANS District Partnership Liaison shall be required before AGENCY enters into any non-budgeted sub-agreement. AGENCY shall provide an evaluation of the necessity or desirability of incurring such costs. AGENCY shall retain all receipts for such purchases or services and shall submit them with invoices per Section III–Payment and Invoicing, Item 14(h)(4), above. f. Any contract entered into by AGENCY as a result of this RGA shall mandate that travel and per diem reimbursements and third-party contract reimbursements to subrecipients, contractors, and subcontractors, will be allowable as Project costs only after those costs are incurred and paid for by the subrecipients, contractors, and subcontractors. Travel expenses and per diem rates for subcontractors shall be reimbursed pursuant to Section III–Payment and Invoicing, Item 14c, above.

24. Drug-Free Workplace Certification
By signing this RGA, AGENCY hereby certifies under penalty of perjury under the laws of California that AGENCY will comply with the requirements of the Drug-Free Workplace Act of 1990 (Gov. Code Sections 8350 et seq.) and will provide a Drug-Free workplace by doing all of the following:
a. Publish a statement notifying employees that unlawful manufacture, distribution, dispensation, possession, or use of a controlled substance is prohibited and specifying actions to be taken against employees for violations, as required by Government Code Section 8355(a). b. Establish a Drug-Free Awareness Program as required by Government Code Section 8355(a)(2) to inform employees about all of the following:
1) The dangers of drug abuse in the workplace.
2) The person's or organization's policy of maintaining a Drug-Free workplace. 3) Any available counseling, rehabilitation, and employee assistance programs. 4) Penalties that may be imposed upon employees for drug abuse violations. c. Provide, as required by Government Code Section 8355(a)(3), that every employee who works on the proposed contract or grant:
1) Will receive a copy of the company's Drug-Free policy statement. 2) Will agree to abide by the terms of the company's statement as a condition of employment on the contract or grant.
d. Failure to comply with these requirements may result in suspension of payments under this RGA or termination of this RGA or both, and AGENCY may be ineligible for the award of any future state contracts if CALTRANS determines that any of the following has occurred: (1) AGENCY has made a false certification or, (2) AGENCY violates the certification by failing to carry out the requirements as noted above.

25. Relationship of Parties
It is expressly understood that this agreement is executed by and between two (2) independent governmental entities and is not intended to, and shall not be construed to, create the relationship of agent, servant, employee, partnership, joint venture or association, or any other relationship whatsoever other than that of an independent party.

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26. State-Owned Data
a. AGENCY agrees to comply with the following requirements to ensure the preservation, security, and integrity of State-owned data on portable computing devices and portable electronic storage media:
1) Encrypt all State-owned data stored on portable computing devices and portable electronic storage media using government-certified Advanced Encryption Standard (AES) cipher algorithm with a 256-bit or 128-bit encryption key to protect CALTRANS data stored on every sector of a hard drive, including temp files, cached data, hibernation files, and even unused disk space.
2) Data encryption shall use cryptographic technology that has been tested and approved against exacting standards, such as FIPS 140-2 Security Requirements for Cryptographic Modules.
3) Encrypt, as described above, all State-owned data transmitted from one computing device or storage medium to another.
4) Maintain confidentiality of all State-owned data by limiting data sharing to those individuals contracted to provide services on behalf of the State, and limit use of State information assets for State purposes only.
5) Install and maintain current anti-virus software, security patches, and upgrades on all computing devices used during the course of the Agreement. 6) Notify the CALTRANS District Partnership Liaison immediately of any actual or attempted violations of security of State-owned data, including lost or stolen computing devices, files, or portable electronic storage media containing State-owned data. 7) Advise the owner of the State-owned data, the AGENCY Information Security Officer, and the AGENCY Chief Information Officer of vulnerabilities that may present a threat to the security of State-owned data and of specific means of protecting that State-owned data. b. AGENCY agrees to use the State-owned data only for State purposes under this Agreement. c. AGENCY agrees to not transfer State-owned data to any computing system, mobile device, or desktop computer without first establishing the specifications for information integrity and security as established for the original data file(s) (State Administrative Manual (SAM) Section 5335.1).

27. CALTRANS’ Use of “Before” and “After” Project Photographs a. AGENCY acknowledges it provided a “Before” photograph of the Project with the AGENCY’s application for the Clean California Local Grant Program. AGENCY acknowledges and agrees it must provide an “After” photograph of the Project as part of the close out reporting process. b. AGENCY warrants it is the copyright owner of the “Before” and “After” Project photographs. c. Neither the “Before” nor “After” Project photographs shall include the faces of any individuals.
d. AGENCY grants to CALTRANS an irrevocable, perpetual, royalty-free, sublicensable, unlimited, worldwide license to prepare derivative works, make, publish, display, and distribute two-dimensional reproductions and/or copies, digitally and in print, of the “Before” and “After” Project photographs, or derivatives thereof, for non-commercial purposes or any State government purposes. This includes, but is not limited to, reproductions used in brochures, media publicity, public outreach campaigns (including television and social media campaigns), education, and exhibition catalogues or other similar publication.

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e. When applicable, AGENCY shall obtain and provide to CALTRANS any and all documentation CALTRANS reasonably determines is necessary or desirable to perfect the license described in this RGA to CALTRANS. This documentation shall be provided to CALTRANS within fifteen (15) days of written notice that this documentation is required.

28. Limited Grant of Rights to CALTRANS for Use of Educational Programming (“educational programming”) Created or Produced for Project and Visual Art Located Outside of State Right-ofWay (“Artwork”) Created or Produced for Project a. Educational programming:
i. AGENCY shall obtain from any and all copyright owner(s) of educational programming a sublicensable, irrevocable, perpetual, royalty-free, unlimited, worldwide license to prepare derivative works, make, publish, display, and distribute two-dimensional reproductions and/or copies, digitally and in print, of the educational programming created or produced for Project under this RGA, or derivatives thereof, for non-commercial purposes or any State government purposes. This includes, but is not limited to, reproductions used in brochures, media publicity, public outreach campaigns (including television and social media campaigns), education, exhibition catalogues or other similar publication. AGENCY shall obtain any and all other intellectual property rights necessary to make this grant to CALTRANS as described in this RGA.
ii. AGENCY grants to CALTRANS an irrevocable, perpetual, royalty-free, sublicensable, unlimited, worldwide license to prepare derivative works, make, publish, display, and distribute two-dimensional reproductions and/or copies, digitally and in print, of the educational programming created or produced for Project under this RGA, or derivatives thereof, for non-commercial purposes or any State government purposes. This includes, but is not limited to, reproductions used in brochures, media publicity, public outreach campaigns (including television and social media campaigns), education, and exhibition catalogues or other similar publication.
iii. When applicable, AGENCY shall obtain and provide to CALTRANS any and all documentation CALTRANS reasonably determines is necessary or desirable to perfect the license or sublicense described in this RGA to CALTRANS. This documentation shall be provided to CALTRANS within fifteen (15) days of written notice that this documentation is required.
iv. To the extent any logos, including trademarks or service marks, belonging to third parties and/or the AGENCY are used on educational programming created or produced for Project under this RGA, AGENCY agrees to obtain and grant all necessary rights for CALTRANS to use and allow agents of CALTRANS to use the logos in connection with use of the educational programming for non-commercial purposes or State government purposes. This includes but is not limited to reproductions used in brochures, media publicity, public outreach campaigns (including television and social media campaigns), education and exhibition catalogues or other similar publication. This documentation shall be provided to CALTRANS within fifteen (15) days of written notice that this documentation is required. b. Artwork:
i. AGENCY shall obtain from the artist(s), or any other copyright owner(s) of Artwork, a sublicensable, irrevocable, perpetual, royalty-free, unlimited, worldwide license to prepare derivative works, make, publish, display, and distribute two-dimensional reproductions and/or copies, digitally and in print, of Artwork created or produced for Project under this RGA, or City of Madera
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derivatives thereof, for non-commercial purposes or any State government purposes. This includes, but is not limited to, reproductions used in brochures, media publicity, public outreach campaigns (including television and social media campaigns), education, and exhibition catalogues or other similar publication. AGENCY shall obtain any and all other intellectual property rights necessary to make this grant to CALTRANS as described in this RGA.
ii. AGENCY grants to CALTRANS an irrevocable, perpetual, royalty-free, sublicensable, unlimited, worldwide license to prepare derivative works, make, publish, display, and distribute two-dimensional reproductions and/or copies, digitally and in print, of Artwork created or produced for Project under this RGA, or derivatives thereof, for non-commercial purposes or any State government purposes. This includes, but is not limited to, reproductions used in brochures, media publicity, public outreach campaigns (including television and social media campaigns), education, and exhibition catalogues or other similar publication.
iii. AGENCY shall obtain and provide to CALTRANS any and all documentation CALTRANS reasonably determines is necessary or desirable to perfect the license or sublicense described in this RGA to CALTRANS. This documentation shall be provided to CALTRANS within fifteen (15) days of written notice that this documentation is required.

29. Government Purpose Rights for Inventions
a. Inventions are any idea, methodologies, design, concept, technique, invention, discovery, improvement or development regardless of patentability made solely by AGENCY or jointly with the AGENCY’s contractor, subcontractor and/or subrecipient during the term of this RGA and in performance of any work under this RGA, provided that either the conception or reduction to practice thereof occurs during the term of this RGA and in performance of work issued under this RGA.
b. CALTRANS will have Government Purpose Rights to any inventions created as a result of the Project. “Government Purpose Rights” are the unlimited, irrevocable, worldwide, perpetual, royalty-free, non-exclusive rights, and licenses to use, modify, reproduce, perform, release, display, create derivative works from, and disclose any said invention. “Government Purpose Rights” also include the right to release or disclose said invention(s) outside CALTRANS for any State government purpose and to authorize recipients to use, modify, reproduce, perform, release, display, create derivative works from, and disclose the invention(s) for any State government purpose. “Government Purpose Rights” do not include any rights to use, modify, reproduce, perform, release, display, create derivative works from, or disclose the invention(s) for any commercial purpose.

30. Additional Intellectual Property Provisions
a. To the extent any intellectual property is created or produced for Project under this RGA, and not covered in other provisions of this RGA, AGENCY agrees to take reasonable steps to ensure that CALTRANS has the rights necessary to allow for use of the intellectual property in a fashion substantially similar to other rights for non-commercial uses and State government purposes described in this RGA.
b. If additional uses are reasonably determined to be needed by CALTRANS for public outreach purposes, AGENCY will obtain rights and grant CALTRANS and its agents said additional rights for use of the “Before” and “After” Project photos, Artwork created or produced for Project under this RGA, and educational programming created or produced for Project under this RGA.

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The grant will be an irrevocable, non-exclusive, perpetual, royalty-free, sublicensable, unlimited, worldwide license.
c. When requested to so do by AGENCY, all reproductions and/or copies by CALTRANS of “Before” or “After” Project photographs, educational programming, and Artwork shall contain a credit to the Artist/ Copyright owner(s) and a copyright notice in substantially the following form:
© [Artist/Copyright owner’s name, date of publication]. AGENCY bears sole responsibility to promptly notify CALTRANS, in writing, about instances where such accreditation is requested and provide the Artist/ Copyright owner’s name and date of publication. CALTRANS will make reasonable efforts to affix the copyright notice in a timely manner. d. Required disclaimer language for educational programming and Artwork created or produced for Project under this RGA.
i. Educational programming: AGENCY must place a disclaimer statement in a conspicuous manner on the educational programming created or produced for Project under this RGA a disclaimer that states the content of the educational programming does not reflect the official views or policies of CALTRANS. The educational programming does not constitute a standard, specification, or regulation.
ii. Artwork: AGENCY must place a disclaimer statement in a conspicuous manner on or in close proximately to the Artwork created or produced for Project under this RGA a disclaimer statement that the contents of the artwork do not reflect the official views or policies of CALTRANS.
e. Avoidance of Infringement: In performing work under this RGA, AGENCY and its employees agree to avoid designing or developing any items that infringe one or more patents or other intellectual property rights of any third party. If AGENCY or its employees becomes aware of any such possible infringement in the course of performing any work under this RGA, AGENCY or its employees shall immediately notify CALTRANS in writing. f. Contractors, Subcontractors, and Subrecipients: Through contract with its sub-recipients, contractors, and subcontractors, AGENCY shall affirmatively bind by contract all of its contractors, subcontractors, subrecipients, and service vendors (hereinafter “AGENCY’s Contractor/Subcontractor/Subrecipient”) providing services under this RGA to conform to the provisions of paragraphs 31-33 of this RGA. In performing services under this RGA, AGENCY’s Contractor/Subcontractor/Subrecipient shall agree to avoid designing or developing any items that infringe one (1) or more patents or other intellectual property rights of any third party. If AGENCY’s Contractor/Subcontractor/Subrecipient becomes aware of any such possible infringement in the course of performing any work under this RGA, AGENCY’s Contractor/Subcontractor/Subrecipient shall immediately notify the AGENCY in writing, and AGENCY will then immediately notify CALTRANS in writing.

31. Visual Art Located on California State Right-of-Way AGENCY agrees if Project involves visual art located on California State right-of-way, Project must be submitted and adhere to CALTRANS’ most current Transportation Art Proposal process, policies, guidelines, and requirements. Information regarding CALTRANS’ Transportation Art program can be found at https://dot.ca.gov/programs/design/lap-landscape-architecture-andcommunity-livability/lap-liv-j-transportation-art. AGENCY bears sole responsibility for ensuring that any Project will be timely submitted through CALTRANS’ Transportation Art Proposal process, approved, and installed prior to any deadlines as required by this RGA.

City of Madera
Agreement Number 06-CCEP-05
AMS ADV ID: 0626000193

Page 17 of 19 ends

a. AGENCY acknowledges that funds provided by CALTRANS under this RGA shall not be used for maintenance outside of the project time limits as provided in this RGA. b. AGENCY acknowledges that the CALTRANS’ Transportation Art Proposal process requires, among other things, CALTRANS ownership of any tangible visual final artwork, an unlimited, irrevocable copyright assignment to CALTRANS of the final artwork, and waiver of moral rights under California Civil Code § 987 (the California Art Preservation Act) and 17 U.S.C. § 106A(a) (the Visual Artists Rights Act of 1990, “VARA”) of the final artwork. c. AGENCY acknowledges that any submittal to the CALTRANS’ Transportation Art Proposal process includes restrictions on the type of work that can be located on California State right-ofway.

32. Assumption of Risk and Indemnification Regarding Exposure to Environmental Health Hazards In addition to, and not a limitation of, AGENCY’s indemnification obligations contained elsewhere in this Agreement, AGENCY hereby assumes all risks of the consequences of exposure of AGENCY’s employees, agents, Subcontractors, Subcontractors’ employees, and any other person, firm, or corporation furnishing or supplying work services, materials, or supplies in connection with the performance of this Agreement, to any and all environmental health hazards, local and otherwise, in connection with the performance of this Agreement. Such hazards include, but are not limited to, bodily injury and/or death resulting in whole or in part from exposure to infectious agents and/or pathogens of any type, kind or origin. AGENCY also agrees to take all appropriate safety precautions to prevent any such exposure to AGENCY’s employees, agents, Subcontractors, Subcontractors’ employees, and any other person, firm or corporation furnishing or supplying work services, materials, or supplies in connection with the performance of this Agreement.

AGENCYalso agrees to indemnify and hold harmless CALTRANS, the State of California, and each and all of their officers, agents and employees, from any and all claims and/or losses accruing or resulting from such exposure. Except as provided by law, AGENCY also agrees that the provisions of this paragraph shall apply regardless of the existence or degree of negligence or fault on the part of CALTRANS, the State of California, and/or any of their officers, agents and/or employees.

33. Mandatory Organic Waste Recycling
It is understood and agreed that pursuant to Public Resources Code Sections 42649.8 et seq., if AGENCY or its subcontractor generates two (2) cubic yards or more of organic waste or commercial solid waste per week, AGENCY or its subcontractor shall arrange for organic waste or commercial waste recycling services that separate/source organic waste for organic waste recycling. AGENCY shall provide proof of compliance, i.e. organic waste recycling services or commercial waste recycling services that separate/source organic waste recycling, upon request from CALTRANS District Partnership Liaison

34. Project Close Out/Closeout Report
a. AGENCY will provide a final close out report to the CALTRANS District Partnership Liaison no later than November 1, 2027.

CALTRANS reserves the right to inspect the project location prior to approving the final invoice and closeout report.
b. CALTRANS reserves the right to withhold final payment to AGENCY pending receipt and approval of the final closeout report by the CALTRANS District Partnership Liaison. c. Payments shall be forfeit if invoices are submitted after November 1, 2027.

City of Madera
Agreement Number 06-CCEP-05
AMS ADV ID: 0626000193

Page 18 of 19 ends

35. ADA Compliance
All entities that provide electronic or information technology or related services that will be posted online by CALTRANS must be in compliance with Government Code Sections 7405 and 11135 and the Web Content Accessibility Guidelines (WCAG) 2.0 or subsequent version, published by the Web Accessibility Initiative of the World Wide Web Consortium at a minimum Level AA success. All entities will respond to and resolve any complaints/deficiencies regarding accessibility brought to their attention.

36. Prevailing Wages and Labor Code Compliance
AGENCY shall comply with any and all applicable labor and prevailing wage requirements in Labor Code Sections 1720 through 1815 and implementing regulations for any public works or maintenance contracts and subcontracts executed for the AGENCY’s work on or for the Project.

37. In the event of any inconsistency between the provisions which constitute this RGA, the following order of precedence shall apply:

I. This Restricted Grant Agreement (as amended);
II. The CALTRANS Local Grant Program Guidelines;
III. Approved Indirect Cost Rate (if applicable);
IV. Approved Grant Application (as amended); and
V. AGENCY Resolution.

38. Survival
AGENCY’s representations, the indemnification provisions in paragraph 21, intellectual property provisions in paragraphs 30, 31, 32, and 33, and all other provisions which by their inherent character establish ongoing obligations shall remain in full force and effect, regardless of any expiration and/or termination of this RGA.

39. Sanctions
No agreements under this RGA shall be made with individuals and/or entities that are determined to be a target of sanctions by the State of California while such sanctions are in effect.

Section IV
Attachments:

The following attachments are incorporated into and are made a part of this RGA by this reference and attached hereto.

I. Clean CA Community Cleanup and Employment Pathway (CCEP) Grant Program Guidelines II. Approved Indirect Cost Rate (if applicable)
III. Approved Grant Application and Amendment(s) to Grant Application (if applicable) IV. AGENCY Resolution
In Witness Whereof, the parties hereto have executed this RGA on the day and year first herein above written:

City of Madera
Agreement Number 06-CCEP-05
AMS ADV ID: 0626000193

Page 19 of 19 ends

AGENCY NAME
By (signature):

Printed Name:

Title:

Date:

CALTRANS DISTRICT PARTNERSHIP LIAISON

CLEAN CALIFORNIA PROGRAM
By (signature):

Printed Name:

Jennifer Nishikawa
Title:

D6 Clean California District Partnership Liaison
Date:

CALIFORNIA DEPARTMENT OF TRANSPORTATION

CLEAN CALIFORNIA PROGRAM
By (signature):

Printed Name:

Walter Yu
Title:

Clean California Program Director
Date:

ATTACHMENT 2
Resolution Amending the Fiscal Year 2025/26 Budget, approving related revenue and expenditure line items for the execution of the Restricted Grant Agreement towards Community Cleanup and Employment Pathway Grant objectives Exhibit A: Budget Adjustment
RESOLUTION NO. 26 -____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MADERA, CALIFORNIA AMENDING THE FISCAL YEAR 2025/26 BUDGET, APPROVING

RELATED REVENUE AND EXPENDITURE LINE ITEMS FOR THE EXECUTION OF THE

RESTRICTED GRANT AGREEMENT TOWARDS COMMUNITY CLEANUP AND

EMPLOYMENT PATHWAY GRANT OBJECTIVES
WHEREAS, the City Council previously approved the Operating City-wide Budget for 2025/26 Fiscal Year; and
WHEREAS, the City wishes to enter into a Restricted Grant Agreement with the Department of Transportation (Caltrans); and
WHEREAS, the Restricted Grant Agreement awards $300,000 to the City under the Community Cleanup and Employment Pathway Grant (CCEP) Program; and WHEREAS, an amendment to the City’s Adopted Budget for the 2025/26 Fiscal Year, listed in Exhibit A, attached hereto, is necessary to account for related expenditures pertaining to the execution of the Restricted Grant Agreement.

NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF MADERA finds, orders, and resolves as follows:

1. The above recitals are true and correct.

2. The appropriations for the items listed in Exhibit A, attached hereto, are approved.

3. A signed copy of this Resolution shall be placed on file in the office of the Director of Financial Services, who shall prepare the necessary entries to reflect budget changes identified in the City's accounting system.

4. This Resolution is effective immediately upon adoption. *****
Exhibit A: Budget Adjustment

ORG OBJECT
FUND CODE CODE DESCRIPTION (+) (-)
Budget Amendment
Parks Grant Fund
41096355 6800 Grants $ 300,000
41096355 6480 Program Expense 300,000
$ 300,000 $ 300,000

EXHBIT A

CITY OF MADERA
Budget Appropriations: Res. 26-______
Budget Transfer & Amendment for Fiscal Year 2025/26
1 ATTACHMENT 3
Community Designation Pledge committing the City to create a community characterized by cleanliness, sustainability, and civic pride.

Exhibit A: Community Designation checklist
{ Sign the Pledge
Designate a community leader to e-sign
thepledge. For a town, this could be a mayor;
for an organization it could be the Executive
Director, for a school it could be a principal, for
a district a supervisor, and so on.
{ Advisory Body
Establish an informal Clean CA committee or
some other advisory body. This could also be
an existing committee.
{ Community Input
Get community input through a public
meeting, survey, special event, virtual call or
another means of gathering feedback from the
public on your community’s approach.
{ Litter Assessment
Conduct an initial litter assessment to establish
your baseline and identify litter hotspots in
your community.
{ Cleanups
Organize community cleanups. We
recommend at least 4 each year, big or small.
{ Measure Progress
Establish metrics and measure regularly to track
your clean community’s progress. Things to
track include # of volunteers, # of cleanups,
and pounds of litter removed.
{ Community Education
Educate the broader public on the impacts
and solutions to litter by providing signage,
educational programs, or other public
awareness & behavior change strategies.
{ Youth Education
Provide K-12 educational programs to help
inform anti-littering behaviors among the
youngest generations. Communities can
leverage the K-12 Clean CA educational
resources to meet this requirement.
{ Infrastructure
Place anti-littering infrastructure in key locations.

This can include trash and recycling bins
that are emptied regularly, or utilizing street
sweeping to clean as you go.
{ Enforcement
Establish policies, technologies or programs that
prevent or deter future littering.
{ Long-term Planning
Hash out a long-term plan or strategy to ensure
the sustainability of your efforts so that your
community stays clean.
{ Greening & Beautification
Complement cleanups by implementing
greening and beautification activities - plant
trees, gardens or flower beds, or create public
art to make your community more vibrant.
{ Collection Drives
Schedule or host collection drives such as
“dump days” or “amnesty days” for hard-torecycle or bulky items like mattresses, e-waste, or household appliances.
{ Partnerships
Engage local stakeholders and businesses to
partner with you and support your campaign.

We recommend partnering with at least
3-5 businesses.
{ Cigarette Litter
Provide cigarette litter receptacles to help
contain the most widely littered item on Earth.

Community Designation Checklist
To attain designation, communities must
meet at least 10 of these 15 criteria

REPORT TO CITY COUNCIL
Approved by: Council Meeting of: March 18, 2026
___________________________________ Agenda Number: _______ Michael Lima, Director of Financial Services
___________________________________
Arnoldo Rodriguez, City Manager
SUBJECT:

Audited Comprehensive Financial Statements for the Fiscal Year ended June 30, 2025 RECOMMENDATION:

Acceptance of Audited Comprehensive Financial Statements (ACFR) for Fiscal Year 2024/2025 DISCUSSION:

The City of Madera's (City) Financial Statements for the Fiscal Year ended on June 30, 2025 have been prepared. Under State law, a local agency (in this case, the City) must prepare financial statements and have them audited by an independent accounting firm. The City has chosen to present their financial statements in the form of an ACFR. An ACFR contains additional financial information and context beyond what the basic financial statements present. The City’s Fiscal Year 2024/25 ACFR was audited by The Pun Group Accountants and Advisors (The Pun Group).

Single Audit
In accordance with the Single Audit Act of 1984 and the provisions of the U.S. Office of Management and Budget (0MB) Circular A-133, the City is required to have an independent firm audit their Financial Statements whenever $750,000 in Federal grants are received for any Fiscal Year. The audit must follow Generally Accepted Auditing Standards as set forth by the American Institute of Certified Public Accountants and comply with the standards for financial audits set forth in the U.S. General Accounting Office's Governments Auditing Standards (1994). The audit for Fiscal Year ended June 30, 2025 complies with all the provisions and standards previously stated. Additionally, the City's Financial Statements have been found to be in conformity with Generally Accepted Accounting Principles.
for:

E-1

RETURN TO AGENDA
Audit Results
The Pun Group issued an Unmodified Opinion, otherwise known as a “clean opinion”, for the City’s Fiscal Year 2024/25 financial statements.

A copy of the Fiscal Year 2024/25 ACFR will be posted on the City's website.

FINANCIAL IMPACT:

The ACFR is a report that shows the City’s financial results for the fiscal year ending June 30, 2025.

In itself, the report does not have any financial impact. However, the production of the ACFR does satisfy legal requirements to produce financial statements. If those requirements are not fulfilled, the City could be subject to legal action. Additionally, the City’s bonds require annual production of audited financial statements as a condition of bond issuance. Thus, by not issuing audited financial statements, the City would risk default on their outstanding bonds, which could result in the immediate repayment of all outstanding principal on those bonds.

This agreement does not include staff time and is intended to ensure a thorough and professional review of our financial records. The Pun Group will be paid $57,925 for the preparation of the ACFR and other Fiscal Year 2024/25 financial reports.

ALTERNATIVES:

Council could delay acceptance of the City's ACFR, which could potentially jeopardize the City's financial credibility.

ATTACHMENTS:

1. City of Madera Annual Comprehensive Financial Report for the Year Ended June 30, 2025

City of Madera
Madera, California
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Prepared by
Finance Department

City of Madera
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Table of Contents
i
Page
INTRODUCTORY SECTION (Unaudited)
Table of Contents ........................................................................................................................................................ i Letter of Transmittal ................................................................................................................................................... v Principal Officials ................................................................................................................................................... viii Organization Chart .................................................................................................................................................... ix GFOA Certificate of Achievement ............................................................................................................................. x

FINANCIAL SECTION
Independent Auditor’s Report ................................................................................................................................ 1 Management’s Discussion and Analysis (Unaudited) ........................................................................................... 5 Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position ............................................................................................................................ 24 Statement of Activities ................................................................................................................................ 26 Fund Financial Statements:

Governmental Funds Financial Statements:

Balance Sheet ........................................................................................................................................ 32 Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position ...................................................................... 35 Statement of Revenues, Expenditures, and Changes in Fund Balances ............................................... 36 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Government-Wide Statement of Activities and Changes in Net Position ..................................................................... 38 Proprietary Funds Financial Statements:

Statement of Net Position ..................................................................................................................... 40 Statement of Revenues, Expenses and Changes in Net Position .......................................................... 42 Statement of Cash Flows ...................................................................................................................... 44 Fiduciary Funds Financial Statements:

Statement of Fiduciary Net Position ..................................................................................................... 49 Statement of Changes in Fiduciary Net Position .................................................................................. 50 Notes to the Basic Financial Statements ........................................................................................................ 57 City of Madera
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Table of Contents (Continued)
ii
Page
FINANCIAL SECTION (Continued)
Required Supplementary Information (Unaudited):

Budgetary Information ..................................................................................................................................... 127 Budgetary Comparison Schedules:

General Fund ............................................................................................................................................. 129 General Development Impact Fee Special Revenue Fund ........................................................................ 130 Measure “T” Sales Tax Special Revenue Fund ......................................................................................... 131 Schedule of Changes in the Net Pension Liability and Related Ratios ............................................................ 132 Schedule of the City’s Proportionate Share of the Net Pension Liability and Related Ratios ......................... 134 Schedules of Contributions - Pensions ............................................................................................................ 136 Schedule of Changes in Total OPEB Liability and Related Ratios ................................................................. 139 Supplementary Information:

Non-Major Governmental Funds:

Combining Balance Sheet ......................................................................................................................... 145 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ................................................................................................................................. 150 Budgetary Comparison Schedules:

Special Gas Tax Special Revenue Fund ............................................................................................. 155 Business Improvement District Special Revenue Fund ...................................................................... 156 Parking Development Special Revenue Fund ..................................................................................... 157 Parking District Special Revenue Fund .............................................................................................. 158 Federal Aid Urban Special Revenue Fund .......................................................................................... 159 Street Construction Special Revenue Fund ......................................................................................... 160 Landscape Assessment Special Revenue Fund ................................................................................... 161 Supplemental Law Enforcement Special Revenue Fund .................................................................... 162 Intermodal Building Special Revenue Fund ....................................................................................... 163 Economic Development Special Revenue Fund ................................................................................. 164 Residential Rehab Special Revenue Fund .......................................................................................... 165 Low and Moderate Income Housing Special Revenue Fund .............................................................. 166 Community Facilities District Special Revenue Fund ........................................................................ 167 Non-Major Enterprise Funds:

Combining Statement of Net Position ....................................................................................................... 170 Combining Statement of Revenues, Expenses, and Changes in Net Position ........................................... 171 Combining Statement of Cash Flows ........................................................................................................ 172 Internal Service Funds:

Combining Statement of Net Position ....................................................................................................... 176 Combining Statement of Revenues, Expenses, and Changes in Net Position ........................................... 177 Combining Statement of Cash Flows ........................................................................................................ 178 City of Madera
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Table of Contents (Continued)
iii
Page
FINANCIAL SECTION (Continued)
Supplementary Information (Continued):

Custodial Funds:

Combining Statement of Fiduciary Net Position ....................................................................................... 183 Combining Statement of Changes in Fiduciary Net Position .................................................................... 184 STATISTICAL SECTION (Unaudited)
Table of Contents ................................................................................................................................................... 187 Financial Trends:

Net Position by Component – Last Ten Fiscal Years ...................................................................................... 188 Changes in Net Position – Last Ten Fiscal Years ............................................................................................ 190 Fund Balances of Governmental Funds – Last Ten Fiscal Years .................................................................... 194 Changes in Fund Balances of Governmental Funds – Last Ten Fiscal Years ................................................. 196 Revenue Capacity:

Governmental Activities Tax Revenues by Source – Last Ten Fiscal Years .................................................. 199 Assessed Value of Taxable Property – Last Ten Fiscal Years......................................................................... 200 Property Tax Levies and Collections – Last Ten Fiscal Years ........................................................................ 202 Direct and Overlapping Property Tax Rates – Last Ten Fiscal Years ............................................................. 203 Top Ten Principal Property Taxpayers – Fiscal Year 2025 and Nine Years Prior .......................................... 205 Debt Capacity:

Ratios of Outstanding Debt by Type – Last Ten Fiscal Years ......................................................................... 206 Ratios of General Bonded Debt Outstanding – Last Ten Fiscal Years ............................................................ 208 Direct and Overlapping Governmental Activities Debt ................................................................................... 209 Legal Debt Margin Information – Last Ten Fiscal Years ................................................................................ 210 Pledged Revenue Coverage – Last Ten Fiscal Years ...................................................................................... 212 Demographic and Economic Information:

Demographic and Economic Statistics – Last Ten Fiscal Years ..................................................................... 214 Principal Employers – Fiscal Year 2025 and Nine Years Prior ....................................................................... 215

Operating Information:

Full-Time Equivalent City Government Employees by Function/Program – Last Ten Fiscal Years .............. 217 Operating Indicators by Function Program – Last Ten Fiscal Years ............................................................... 218 Capital Asset Statistics by Function/Program – Last Ten Fiscal Years ........................................................... 220 iv
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Madera City Hall, 205 W 4th Street, Madera, CA 93637
PHONE: (559) 661-5400 • www.madera.gov
v
March 10, 2026
Honorable Mayor, Members of the City Council, and
Distinguished Citizens of Madera, California
Financial Services Department
It is with pleasure that I present to you the City of Madera Annual Comprehensive Financial Report (ACFR) for Fiscal Year 2024/2025.

State law requires local governments to prepare a complete set of audited financial statements. This report is published to fulfill that requirement for the Fiscal Year ending June 30, 2025. This ACFR was prepared by the City of Madera's (City) Financial Services Department, which assumes responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including disclosures.

The existing comprehensive structure of internal accounting controls in the City provides reasonable assurance that the financial statements are free of any material misstatements. Since the cost of internal control should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements. The City recognizes that even sound internal controls have inherent limitations. The City believes its internal controls adequately safeguard assets, that the reported data is accurate in all material respects, and that its presentation fairly depicts the City’s financial position and changes in its financial position as measured by the financial activity of its various funds.

The accompanying financial statements of the City have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) as prescribed by the Governmental Accounting Standards Board (GASB).

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 MD&A and should be read in conjunction with it. The MD&A offers a more detailed discussion about the economic condition of the City, fund balance analysis and other management goals and achievements. The City's MD&A can be found immediately following the report of the independent auditors.

The City's financial statements have been audited by The Pun Group LLP. The goal of the independent audit was to provide reasonable assurance that the financial statements of the City for the fiscal year ended June 30, 2025 are free of material misstatement. The independent audit involved examining on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. The independent auditor concluded, based upon the audit, that there was reasonable basis for the rendering of an unmodified opinion that the City of Madera's financial statements for Fiscal Year 2024/25 are fairly presented in conformity with GAAP. The independent auditor's report is presented as the first component of this ACFR’s financial section.

The independent audit of the City’s financial statements was part of a broader, federally mandated "Single Audit" designed to meet the special needs of federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the emphasis on internal controls and legal requirements involving the administration of federal awards. These reports are presented in a separately issued report: the Single Audit and Independent Auditor’s Reports.

Madera City Hall, 205 W 4th Street, Madera, CA 93637
PHONE: (559) 661-5400 • www.madera.gov
vi
Government Profile
The City was incorporated on March 27, 1907, as a general law city. The City Council is comprised of six members who are elected by district, plus a Mayor who is elected at large. The Council Members and the Mayor are elected to alternating four-year terms staggered every two years. The City Council is responsible for making policy, passing ordinances, adopting the budget, appointing committees, and hiring the City Manager, the City Attorney and the City Clerk. The City Manager is responsible for carrying out the ordinances and policies of the City Council and overseeing operations. All other department heads are appointed by the City Manager.

Madera is in the center of California and is the county seat of Madera County. The City is part of the Madera/Chowchilla Metropolitan Area, which includes City of Madera, City of Chowchilla and developed areas of Madera County. The City has approximate population of 68,100 and its boundaries encompass 20.7 square miles.

The City provides a full range of services that include public safety, public works, recreational and community services, community development and general administrative services. The City also operates a municipal golf course, water and wastewater utilities, as well as a general aviation airport.

Component units are legally separate entities for which the nature and significance of their relations with the City are such that exclusion would cause the financial statements to be misleading or incomplete. Accordingly, the Housing Authority of the City of Madera is reported as a component unit in the City's financial statements.

Local economy and City finances
The Madera economy showed signs of continued growth during Fiscal Year 2024/25. Continued development in both the residential and the commercial sectors resulted in a record property assessed valuation of $4.8 billion: up $300 million from Fiscal Year 2023/24. The City’s finances reflected the growth that was shown throughout the Madera economy. Among the financial highlights that the City experienced in Fiscal Year 2024/25 were:
• Mirroring the growth in assessed valuation, the City received a record amount of property tax revenue.

Property tax revenue was $16.0 million: $0.6 million (4.1%) above the property tax received in Fiscal Year 2023/24. Management believes that property tax revenue will continue to grow in Fiscal Year 2025/26.. • Sales tax revenues were up $0.3 million (1.8%) from Fiscal Year 2023/24’s total of $19.4 million. A slowdown in the retail economy was offset by the full year of sales tax collection from new businesses, including Smart & Final, Ross, and In-N-Out. Management believes that sales tax revenue will continue to be flat in FY 2025/26 due to conditions in the overall retail and wholesale economy. • The City’s total Net Position ended the fiscal year at a record $419.8 million: up 11.5% from Fiscal Year 2023/24’s total Net Position of $376.6 million. It is particularly noteworthy that both Governmental and Business Type activities had positive Net Positions at the end of the fiscal year. • The City recorded $191.4 million of Cash and Investments in Fiscal Year 2024/25. That figure was up by $8.2 million (4.5%) over Fiscal Year 2023/24’s figure of $183.2 million. This growth in cash during the fiscal year is even more impressive considering the City spent $9.1 million of its American Rescue Plan Act (ARPA) allocation received from the Federal Government for Water Fund and Sewer Fund capital work.

Overall actual revenues were generally in line with the fiscal year’s budgeted amounts. Actual property tax and investment revenues came in higher than budgeted amounts, while sales tax and intergovernmental revenues were under budget. Actual expenditures were significantly below appropriations.

Major employers in the City include Madera Unified School District, the County of Madera, the City of Madera and the United States government. Major retail employers include Walmart, Camerena Health, and Vallarta Market. The City of Madera's unemployment rate increased over the fiscal year: going from 7.5% in June 2024 to 8.1% in June 2025.

The City maintains extensive budgetary controls. The objective of these controls is to ensure compliance with legal provisions embodied in the annual appropriated budget adopted by the City Council. For the 2024/25 Fiscal Year, activities for the General, special revenue, debt service, enterprise, and capital project funds were included in the budget.

Madera City Hall, 205 W 4th Street, Madera, CA 93637
PHONE: (559) 661-5400 • www.madera.gov
vii
The level of budgetary control, i.e. the level where the expenditures cannot legally exceed the appropriated amount, is maintained at the fund level for all funds. The City also maintains an encumbrance accounting system as a method of maintaining budgetary control. Outstanding encumbrances at year-end are evaluated and, if deemed necessary by the City Manager, are carried forward as part of the following year's budget.

Long-term financial planning
The City maintains a five-year Capital Improvement Plan, which is updated annually. This plan includes major ongoing maintenance and rehabilitation costs to existing capital assets (land, land improvements, infrastructure, and equipment), as well as the costs of new facilities and improvements.

The City maintains a General Fund Economic Stabilization Reserve at a level of at least 30% of the General Fund operating expenditures in order to protect essential service programs and funding requirements during periods of economic downturn or other unforeseen major costs not covered by the Stabilization Reserve. The balance in the reserve was $12.9 million as of the end of Fiscal Year 2024/25. In addition, separate reserve funds have been established in the Measure K Fund for economic stabilization for the Fire and Police Departments. Each year, $130,000 has been added to each of the reserves until they reach the level of 30% of expenditures, which they did in Fiscal Year 2024/25. Currently, each Economic Stabilization Fund had a $0.9 million balance at the end of Fiscal Year 2024/25.

Additionally, the Fire Department has established a fire vehicle replacement reserve. The intent was to add $200,000 each year when the reserve was established. The funding amount was increased to $490,000 in Fiscal Year 2022/23. It had a balance of $1,157,469 as of the end of the 2024/25 Fiscal Year.

To finance Madera’s current and future growth, the City has in place a variety of user and developer fees to pay for streets, parks, sewer lines, water lines and wells. The City reviews these fees periodically to ensure that the fee structure is in line with the cost of construction. The City is currently in the middle of a five-year rate program for Water, Sewer and Solid Waste services, which calls for increasing rates to keep up with the rising cost of providing these services.

Cash Management
The City of Madera's investment policy prioritizes safety, liquidity and then yield on the City's investment. The highest priority of cash management and investments is to ensure adequate funds are available to meet the City of Madera's obligations and all investments are in safe instruments. Yield, while important, is considered the third priority after safety and liquidity. The City invests in various governmental and corporate bonds, certificates of deposit, money market accounts, and the Local Agency Investment Fund (LAIF) operated by the State of California for the benefit of local governments. The City saw a significant increase in its Investment Income: going from $7.1 million in Fiscal Year 2023/24 to $8.3 million in Fiscal Year 2024/25.

Certificate of Achievement
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City for its ACFR for the fiscal year ended June 30, 2024.

This was the 2nd consecutive year that the City has achieved this prestigious national award. In order to be awarded a Certificate of Achievement, the City must publish an readable and organized ACFR. The ACFR must satisfy both Generally Accepted Accounting Principles and other requirements.

City staff believes that this current annual comprehensive financial report continues to meet the Certificate of Achievement Program’s requirements. We are submitting it to the GFOA to determine its eligibility for another certificate.

Acknowledgments
I would like to extend my thanks to the City Council for their interest in and suggestions for the financial reporting of the City. Special thanks must go to the City’s Financial Services Department staff, whose participation wss essential to the preparation of the ACFR. I extend my appreciation to my staff and other personnel from various departments, agencies and authorities who assisted in the preparation of this report.

Respectfully submitted,
Michael Lima
Director of Financial Services
p y ,
City Council Members
Cece Gallegos, Mayor
Jose Rodriguez, Mayor Pro Tem (D2)
Rohi Zacharia, Councilmember (D1)
Steve Montes, Councilmember (D3)
Anita Evans, Councilmember (D4)
Elsa Mejia, Councilmember (D5)
Artemio Villegas, Councilmember (D6)
Executive Management
Arnoldo Rodriguez, City Manager
Shannon ChaOzn, City Attorney (contracted)
Alicia Gonzales, City Clerk
Department Directors
Michael Lima, Director of Financial Services
Will Tackett, Director of Community Services
Vacant, Planning Manager
Gino Chiaramonte, Police Chief
Vacant, Public Works Operations Director
Joseph Hebert, Director of Parks & Community Services
Rafael Magallan, Chief
uilding Ofzcial
Keith Helmuth, City Engineer
Wendy Silva, Director of Human Resources
Gary Price, Director of Information Technology
Financial Budget Support Staff
Richard Gracia II, Administrative Analyst
Anthony Forestiere, Financial Services Manager
Joseph Carrello, Communications Specialist
Cleona Young, Accountant II
Lyann Huang, Accountant II
viii
Organizational Chart
Residents
City
Council
Successor
Agency City Clerk City Manager
City
Attorney
(Contract)
Parks Community
Development
Human
Resources
Information
Systems Police Fire
(Cal-Fire) Finance
Engineering Public Works
Building Planning
Code
Enforcement Grants
City of Madera
City of Madera | 202-202
ix
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Madera
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2024
Executive Director/CEO
x
6 Hutton Centre Drive, Suite 1200
Santa Ana, California 92707
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members
of the City Council of the City of Madera
Madera, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information, of the City of Madera, California (the “City”), as of and for the year ended June 30, 2025, and the related notes to the basic financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents.

In our opinion, based on our audit and the report of other auditors, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component unit, 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.

We did not audit the financial statements of the Housing Authority of the City of Madera (the “Authority”), which represent 100% of the assets, net position, and revenues, respectively, of the aggregate discretely presented component unit as of June 30, 2025, and the respective changes in financial position, the year then ended. Those statements were audited by other auditors whose report has been furnished to us, and our opinion, insofar as it relates to the amounts included for the Authority, is based solely on the report of the other auditors.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Emphasis of a Matter
Change in Accounting Principle
As discussed in Note 19 to the financial statements, the City implemented Governmental Accounting Standards Board (“GASB”) Statement No. 101, Compensated Absences, effective July 1, 2024. The implementation of this standard required the City to change its method of accounting for compensated absences and resulted in a restatement of beginning net position as of July 1, 2024. Our opinion is not modified with respect to this matter.

To the Honorable Mayor and Members
of the City Council of the City of Madera
Madera, California

Page 2 ends

2 Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

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 auditing standards generally accepted in the United States of America 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 auditing standards generally accepted in the United States of America 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.

To the Honorable Mayor and Members
of the City Council of the City of Madera
Madera, California

Page 3 ends

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

Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The Combining and Individual Fund Financial Statements and 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 Combining and Individual Fund Financial Statements and Budgetary Comparison Schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

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

In connection with our audit of the 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.

To the Honorable Mayor and Members
of the City Council of the City of Madera
Madera, California

Page 4 ends

4 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated March 10, 2026, 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.

Santa Ana, California
March 10, 2026
5 This page intentionally left blank.

City of Madera
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
5 This narrative overview of the City of Madera's (the “City”) financial performance provides an analysis of the City's financial activities for the fiscal year ended June 30, 2025. Please read it in conjunction with the accompanying basic financial statements and the accompanying notes to those financial statements.

Financial Highlights
 The City's government-wide total assets and deferred outflows of resources exceeded total liabilities and deferred inflows of resources at the close of the fiscal year by $419.8 million. Of this amount, $85.8 million is in unrestricted net position and available to meet the City's ongoing commitments to citizens and creditors. In addition, the City’s restricted net position totals $68.8 million and is dedicated to specific purposes. Lastly, net position of $265.3 million is the City’s net investment in capital assets.  The City’s total net position increased by $43.9 million or 11.7% during F iscal Year 2024/25 to $419.8 million from $375.9 million.
 The City’s current asset cash position grew from $178.6 million in Fiscal Year 2023/24 to $186.3 million in Fiscal Year 2024/25: a $7.6 million (4.3%) increase. Significant increases in investment earnings and other revenue sources contributed to the overall increase in cash.  Current Liabilities for the City dropped from $32.1 million in Fiscal Year 2023/24 to $22.2 million in Fiscal Year 2024/25. The $9.9 million (30.8%) decrease in current liabilities was driven by a sharp decline in Unearned Revenue caused by the expenditure of American Rescue Plan Act (ARPA) funds.  Net Pension Liability decreased by $3.1 million, or 5.4%, during Fiscal Year 2024/25 to $54.6 million. Deferred Outflows of Resources - Pensions decreased by $5.0 million, or 27.8%, and Deferred Inflows of Resources – Pensions increased by $0.3 million, or 88.8%. The Net Pension Liability is based on an Actuarial Valuation using a discount rate of 6.90%, which was unchanged from the prior fiscal year.

Overview of the Financial Statements
This annual report consists of a series of financial statements. These statements include all activities of the City, using the integrated approach as prescribed by GASB Statement No. 34. The Statement of Net Position and Statement of Activities provide information about the activities of the City as a whole and present a longer-term view of the City's finances. Fund financial statements tell how these services are financed in the short term as well as what remains for future spending. Fund financial statements also report the City's operations in more detail than the government-wide statements by providing information about the City's most significant funds. The remaining statements provide financial information about activities for which the City acts solely as a trustee or agent for the benefit of those outside the Government.

City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
6 Reporting the City as a Whole
Government-wide financial statements. The government-wide financial statements are designed to provide readers with a broad overview of the City's finances. These statements include all assets and liabilities of the City using the accrual basis of accounting, which is like the accounting method used by most private sector companies. All the current year's revenues and expenses are considered regardless of when cash is received or paid out.

The statement of net position presents information on all the City's assets, deferred outflows, liabilities, and deferred inflows of resources, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as one indicator of whether the City's financial position is improving or deteriorating.

The statement of activities presents information showing how the City's net position changed in the most recent fiscal year. All changes of net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported on this statement for some items that will result in cash flows in future fiscal periods (e.g., earned but unused vacation leave).

The government-wide financial statements of the City are divided as follows:

Governmental Activities: Most of the City's basic services are included here such as public safety, transportation (street and roads), community development, culture and recreation and general government. These services are primarily financed by property and sales taxes and federal and state grants.

Business-type Activities: The City charges fees to customers to cover the costs of services provided. The City's utilities, water, sewer, community sanitation (refuse and street cleaning), golf course, and airport, as well as public transit services are included here.

Fund financial statements. The fund financial statements provide more detailed information about the City's most significant funds, not the City as a whole. 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. Some funds are required to be established by State Law or by bond covenants. Management establishes other funds to control and manage money for a particular purpose or to show the City is meeting legal responsibilities for using certain taxes, grants, and other money. All the funds of the City can be classified into three categories: governmental, proprietary, and fiduciary 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 government-wide financial statements, governmental fund financial statements focus on the near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. These funds are reported using an accounting method called modified accrual accounting, which measures cash and all other financial assets that can readily be converted into cash. Such information is useful in evaluating a government’s near-term financing requirement.

Because the focus of the governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for the 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 reconciliations between governmental funds and governmental activities. This reconciliation explains the relationship (or differences) between the fund statements and the government- wide statements.

City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
7 The City of Madera maintains nineteen individual governmental funds. Information is presented separately in the governmental funds balance sheet and in the governmental funds statement of revenues, expenditures, and changes in fund balances for the General Fund, General Development Impact Fee Fund, Measure T Sales Tax Fund and American Rescue Plan Act Fund; all of which are major funds. Data from the other sixteen funds are combined into a single aggregated presentation.

Individual fund data for each of these non-major governmental funds is provided in the form of combining statements elsewhere in this report.

The City adopts an annual appropriated budget for the General Fund. A budgetary comparison statement has been provided for the General Fund to demonstrate compliance with this budget.

Proprietary funds. The City has two different types of proprietary funds, enterprise funds and internal service funds.

Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The City utilizes enterprise funds to account for those activities that are supported primarily by user charges to external users, and includes community sanitation, sewer disposal, water utilities and transit services.

Internal service funds are used to account for activities that are supported by user charges primarily to the City's other programs and activities and include fleet management, facility maintenance, and computer replacement. Because all these services predominantly benefit governmental rather than business-type functions, they have been included within governmental activities in the government-wide financial statements.

Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for Water, Sewer, Solid Waste, and Drainage Operations funds since they are all major funds. Individual fund data for each of these non-major enterprise funds is provided in the form of combining statements elsewhere in this report. All the internal service funds are combined into a single, aggregated presentation in the fund financial statements. Individual fund data for the internal service funds is provided in the form of combining statements elsewhere in this report.

Fiduciary funds. Fiduciary funds are used to account for resources held for the benefits of parties outside the City.

Fiduciary funds are not reflected in the government-wide financial statements because the City cannot use these funds to finance its operations.

Notes to the basic financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund statements.

Required Supplementary Information. In addition to the basic financial statements and accompanying notes, this report includes certain required supplementary information concerning the City’s progress in funding its obligation to provide pension benefits and other post-employment benefits to its employees, and budgetary comparison schedules.

Individual Fund Statements. Individual fund statements in connection with non-major governmental and enterprise funds are presented immediately after the required supplementary information in this report.

City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
8 Government-wide Financial Analysis
Below is a table showing the City's net position for the fiscal year ended June 30, 2025, with comparative data for the fiscal year ended June 30, 2024.

As of June 30, 2025, the City's government-wide total assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $419.8 million. Governmental activities finished the year with a positive net position balance of $263.4 million, an increase of $17.9 million, or 7.3% compared to Fiscal Year 2023/24. Businesstype activities finished the year with a positive balance of $156.4 million, an increase of $26.0 million, or 19.9%, compared to Fiscal Year 2023/24. Net position, as noted earlier, may serve over time as a useful indicator of the City's financial position. Of the Total Net Position, $265.3 million (63.2% of Total Net Position) is the City's net investment in capital assets (e.g., land, buildings and improvements, machinery and equipment and the road network) less any related debt used to acquire those assets that is still outstanding.

The increase in Total Net Position of $43.9 million is broken down as follows:
- City's Net Investment in Capital Assets increased by $22.4 million - Restricted Net Position increased by $9.4 million
- Unrestricted Net Position increased by $12.1 million.

The increase in net investment in capital assets is primarily due to a decrease in capital-related debt of $7.1 million and an increase in Construction-In-Progress of $19.3 million. The increase to restricted net position represents the change in resources for public works and transportation (increased by $5.7 million), capital projects (increased by $2.3 million), law enforcement (decreased by $0.5 million), and debt service (decreased by $0.6 million) compared to the prior fiscal year.

Restricted Net Position represents $68.8 million (16.4%) of the Total Net Position. Restricted Net Position represents those resources that are subject to external restrictions on how they may be used. These restrictions are established by bond covenants or restrictions on the use of funds are set forth by state or federal regulations. 2025 2024 2025 2024 2025 2024
Assets:

Current and other assets $ 139,407,539 $ 133,109,077 $ 83,706,514 $ 78,278,215 $ 223,114,053 $ 211,387,292 Capital Assets 194,072,553 190,728,744 121,216,477 103,791,675 315,289,030 294,520,419 Total assets 333,480,092 323,837,821 204,922,991 182,069,890 538,403,083 505,907,711 Deferred outflows of resources 12,213,631 17,456,880 1,797,234 3,399,723 14,010,865 20,856,603 Liabilities:

Current and other liabilities 11,606,142 21,937,113 10,573,042 10,129,024 22,179,184 32,066,137 Noncurrent liabilities 69,326,404 71,227,880 38,420,762 42,778,974 107,747,166 114,006,854 Total liabilities 80,932,546 93,164,993 48,993,804 52,907,998 129,926,350 146,072,991 Deferred inflows of resources 1,350,015 1,435,081 1,295,281 1,322,894 2,645,296 2,757,975 Net position:

Net investment in capital assets 174,895,436 172,147,075 90,383,638 70,690,021 265,279,074 242,837,096 Restricted 66,135,749 57,465,102 2,634,242 1,917,543 68,769,991 59,382,645 Unrestricted 22,379,977 15,849,673 63,413,260 57,845,147 85,793,237 73,694,820 Total net position $ 263,411,162 $ 245,461,850 $ 156,431,140 $ 130,452,711 $ 419,842,302 $ 375,914,561 City of Madera's Net Position
Governmental
Activities
Business-Type
Activities Total
City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
9 Unrestricted Net Position represents those resources which may be used to meet the City's ongoing commitments to citizens and creditors. Government-wide Unrestricted Net Position represents $85.8 million (20.4%) of the Total Net Position, which is an increase of $12.1 million (16.4%) from the previous fiscal year. The overall increase in Unrestricted Net Position came from Government Wide activities, which increased $6.5 million (41.2%) and Businesstype activities, which increased by $5.6 million (9.6%) compared to last fiscal year. Business-type activities finished the fiscal year with $63.4 million of the $85.8 million total Unrestricted Net Position.

The following table indicates the changes in net position for governmental and business-type activities:
2025 2024 2025 2024 2025 2024
Revenues:

Program revenues:

Charges for services $ 4,026,795 $ 5,832,599 $ 40,069,473 $ 41,165,639 $ 44,096,268 $ 46,998,238 Operating grants and contributions 12,508,184 12,364,099 648,454 135,687 13,156,638 12,499,786 Capital grants and contributions 15,517,015 7,661,773 4,276,539 2,586,603 19,793,554 10,248,376 Total program revenues 32,051,994 25,858,471 44,994,466 43,887,929 77,046,460 69,746,400 General revenues:

Property taxes 15,576,920 15,005,070 382,076 324,924 15,958,996 15,329,994 Sales and use taxes 19,712,059 19,360,846 - - 19,712,059 19,360,846 Franchise taxes 836,662 818,740 - - 836,662 818,740
Other taxes 2,702,053 2,506,305 - - 2,702,053 2,506,305 Total taxes 38,827,694 37,690,961 382,076 324,924 39,209,770 38,015,885 Investment earnings 5,261,307 3,785,488 3,080,068 3,264,842 8,341,375 7,050,330 Gain (loss) on sale of capital assets - - - - - -
Miscellaneous 1,069,475 1,063,760 4,118,432 2,236,529 5,187,907 3,300,289 Total general revenues and transfers 45,158,476 42,540,209 7,580,576 5,501,371 52,739,052 48,366,504 Total revenues 77,210,470 68,398,680 52,575,042 49,714,224 129,785,512 118,112,904 Expenses:

General government 8,972,158 9,944,817 - - 8,972,158 9,944,817 Public safety 26,221,115 28,100,984 - - 26,221,115 28,100,984 Social services 228,413 250,491 - - 228,413 250,491
Public ways and facilities 5,715,045 6,232,346 - - 5,715,045 6,232,346 Community development 4,515,931 4,923,898 - - 4,515,931 4,923,898 Culture and recreation 5,734,478 6,213,201 - - 5,734,478 6,213,201 Interest on long-term debt 573,255 607,460 - - 573,255 607,460 Water - - 7,541,494 9,719,879 7,541,494 9,719,879
Sewer - - 11,173,895 11,880,792 11,173,895 11,880,792
Solid waste - - 9,083,822 8,832,375 9,083,822 8,832,375 Drainage operations - - 1,261,194 1,466,632 1,261,194 1,466,632 Local transit - - 3,756,292 3,965,092 3,756,292 3,965,092 Golf course - - 274,162 365,238 274,162 365,238
Airport - - 806,517 847,330 806,517 847,330
Total expenses 51,960,395 56,273,197 33,897,376 37,077,338 85,857,771 93,350,535 Change in net position 25,250,075 12,125,483 18,677,666 12,636,886 43,927,741 24,762,369 Transfers (7,300,763) (6,186,238) 7,300,763 6,186,238 - - Change in net position after transfers 17,949,312 5,939,245 25,978,429 18,823,124 43,927,741 24,762,369 Prior Period Adjustment - See Note 19 - (522,247) - (147,886) - (670,133) Increase (decrease) in net position 17,949,312 5,416,998 25,978,429 18,675,238 43,927,741 24,092,236 Net position, beginning of year 245,461,850 240,044,852 130,452,711 111,777,473 375,914,561 351,822,325 Net position, end of year $ 263,411,162 $ 245,461,850 $ 156,431,140 $ 130,452,711 $ 419,842,302 $ 375,914,561 Governmental Activities Business Type Activities Total
Statement of Activities
For the Years Ended June 30, 2025 and 2024
City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
10 During the current fiscal year, the City implemented GASB Statement 101, Compensated Absences, which resulted in changes to the ending FY 2023/24 fund balances in the amount of $0.5 million reduction to the Government Activities fund balance and a reduction of $0.1 million to the Business-type Activities fund balance. See Note 19 for further details.

Governmental activities. Governmental activities account for $263.4 million, or 62.7%, of the government-wide Total Net Position: an increase of $17.9 million, or 7.3%, compared to the fiscal year ending June 30, 2024.

Total Governmental revenues for the year were $77.2 million, which is $8.8 million (132.9%) more than in Fiscal Year 2023/24.
 Capital grants and contributions increased by $9.6 million, or 93.1%, from the previous fiscal year due to an increase in recognized ARPA revenues of $7.8 million offset by $1.1 million reduction in Airport grants and $0.7 million reduction in Local Transit grants.
 Taxes, including property, sales, franchise, and other taxes account for approximately $38.8 million, or 55.1%, of the City's total revenue. Total tax revenue increased by $1.2 million (3.1%) from the previous fiscal year.

Growth was seen in the Property Tax (up $0.6 million, or 3.8%) and Sales Tax (up $0.4 million, or 1.8%) categories.
 Investment earnings increased by $1.5 million (39.0%) from the previous fiscal year. The increase was primarily due to a combination of investment portfolio funds being reinvested into higher yielding investments and additional funds being added to the investment portfolio.

Total Governmental expenses for the fiscal year were $52.0 million, which is $4.3 million (7.7%) lower than in Fiscal Year 2023/24.
 General governmental expenses decreased by $0.9 million, or 9.0%, from the previous fiscal year due to the decrease in Interfund Risk Management charges.
 Public safety expenses decreased by $1.9 million, or 6.7%, from the previous fiscal year due to a decrease of $0.3 million in overtime and leave payout and a decrease in Fire due to a payment issued last fiscal year in the amount of $1.5 million for which there was no corresponding payment in FY 24/25.  Public ways and facilities expenses decreased by $0.5 million, or 8.3%, from the previous fiscal year due to reduced expenditures on the city’s water and sewer infrastructure compared to Fiscal Year 2023/24.  Community development expenses decreased by $0.4 million, or 8.3% from the previous fiscal year due to a decrease in contracted services for engineering projects.  Culture and recreation expenses decreased by $0.5 million, or 7.7% from the previous fiscal year due to a reduction in personnel costs due to a reduction in part-time staff.

City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
11 Revenues by Source - Governmental Activities
Expenditures and Program Revenues - Governmental Activities (Dollars in Thousands)
$-
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
General
government
Public
safety
Public ways
and facilities
Social
services
Culture and
recreation
Community
development
Interest on
long-term
debt
Expenses
Program
Revenues
City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
12 Governmental program revenues that include charges for services and grants specific to certain programs account for $32.1 million, or 41.5% of the total Governmental activity revenue. The amounts necessary to fully fund the Governmental activity programs are made up of "general" revenues such as taxes, interest, and grants and contributions.

Business-type Activities. Business-type activities account for $156.4 million, or 37.2%, of the Total Governmentwide Net Position: an increase of $26.0 million from the prior fiscal year. The Total Business-type Net Position is broken down as follows:
- Net Investment in Capital Assets: $90.4 million (57.8% of the total net position) - an increase of $19.7 million from Fiscal Year 2023/24.
- Restricted Net Position: $2.6 million, (1.7% of Total Net Position) – an increase of $0.7 million from Fiscal Year 2023/24.
- Unrestricted Net Position of $63.4 million (40.5% of Total Net Position) - represents an increase of $5.6 million from Fiscal Year 2023/24.

Total Assets for Business-type activities grew substantially in Fiscal Year 2024/25 when compared to the previous fiscal year. Total Assets grew by $22.8 million (12.5%) to $204.9 million. Significant gains were seen in NonDepreciated Capital Assets (up $15.6 million, or 81.9%) and Cash (up $4.1 million, or 6.0%). The gains to Total Net Position for Business-type activities were complimented by a reduction of $3.9 million (7.4%) in Total Liabilities.

Driving the overall decline in Total Liabilities was a $2.3 million (7.6%) decrease in Long-Term Debt and a $1.9 million (17.3%) decrease in Pension Liability. These decreases were partially offset by a $0.2 million (4.1%) increase in Accounts Payable.

Total Business-type revenue for the year was $52.4 million, which is $2.7 million (5.4%) more than in Fiscal Year 2023/24.

Charges for Services decreased by $1.1 million (2.7%) from the prior fiscal year. The City Council approved rate hikes for water, sewer, and solid waste, in Fiscal Year 2022/23 for five consecutive years. Fiscal Year 2024/25 is Year 3 of the rate hikes. Although rates increased over last fiscal year, consumption for water and discharge for sewer and drainage operations decreased due to the increased rainfall compared to previous year. Offsetting the decrease in Charges for Services revenue was an increase in Capital Grant revenue of $1.7 million (65.3%). Large increases in Capital Grant revenue for Water (up $1.7 million, or 11,274.3%), Sewer (up $1.0 million, or 200.4%), and Drainage (up $0.8 million) were partially offset by decreases of $0.7 million (85.8%) and $1.1 million (96.9%) in Transit and Airport, respectively.

City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
13 Revenues by Source - Business-Type Activities
City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
14 Expenses and Program Revenues-Business-Type Activities (Dollars in Thousands)
Included in Charges for Services are user fees relating to the water, sewer, solid waste, drainage, transit, golf course, and airport operations. Operating transit grant funds, which are the primary revenue for the Transit Fund, are included in Charges for Services.

Total Business-type expenses for the year were $33.8 million, which is $3.3 million (8.9%) less than in Fiscal Year 2023/24. The overall decrease in Business-type expenses was almost entirely caused by Water expenses, which dropped by $2.2 million (22.4%) compared to the prior fiscal year. The decrease in Water expenses was caused by a decline in the City’s pension expense and a reduction in bad debt expenses due to the City reestablishing the shut-off policy for non-payers.

Financial Analysis of the City's Funds
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Governmental funds: Fund balance for Governmental Funds is defined in five categories: non-spendable, restricted, committed, assigned and unassigned. Non-spendable fund balances cannot be spent because they are not in spendable form. Restricted fund balances have limitations imposed externally by creditors, granters, contributors, or laws and regulations of other governments. Committed fund balances have self-imposed limitations set in place prior to the end of the period.
$-
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
Water Sewer Solid waste Drainage
operations
Local transit Golf course Airport
Expenses
Program
Revenues
City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
15 Assigned fund balances are constrained by the City’s intent to be used for a specific purpose but are neither restricted nor committed. Unassigned fund balances are the amounts that have not been assigned to other funds or restricted, committed or assigned to a specific purpose.

Combined, the City's Governmental Funds ended the fiscal year with positive fund balances. The ending fund balance for all funds amounted to $122.8 million: $17.5 million, or 16.6%, more than the previous year.

Of the total fund balance, $20.0 million, or 16.3%, is unassigned which, within the limitations of the fund's purpose, is available for spending at the City's discretion. The remainder of the fund balance is either nonspendable, restricted, committed, or assigned to indicate that it is not in spendable form, legally required to be maintained intact, restricted for a particular purpose, committed for a particular purpose, or assigned for a particular purpose. The details of the remainder are as follows:

Total
Nonspendable
Prepaid items 135,622 $
Inventories 85,412
Total nonspendable 221,034
Restricted
Community development 12,008,236
Parking improvements 123,257
Public works and transportation 27,850,783
Special assessment project 1,412,984
Opioid Settlement 136,132
Insurance premium reserve 4,299,453
Public protection 928,319
Capital projects and improvements 23,647,677
Total restricted 70,571,334
Committed
General Fund stabilization reserve 12,781,798
General plan update 50,000
Solar street light repair Installation 50,000
Measure K - Fire Protection Stabilization 941,378
Measure K - Police Protection Stabilization 947,019
Measure K - Fire Vehicle Replacement 1,157,469
Total committed 15,927,664
Assigned
Golf course capital 20,000
Debt service 1,112,943
OPEB liability 97,339
Health insurance premiums -
Future annual stipend payments 740,000
Measure K - Fire Protection 8,306,297
Measure K - Police 4,915,570
Measure K - Sales Tax Refund Reserve 900,000
Total assigned 16,092,149
Unassigned 20,022,846
Total fund balances $ 122,835,027
City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
16 General Fund
The General Fund is the chief operating fund of the City. As of June 30, 2025, the Total Fund Balance (including all categories) of the General Fund was $56.5 million: up $7.8 million (16.0%) from the fiscal year ending June 30, 2024.

The total fund balance of $56.5 million includes non-spendable balances of $0.2 million, restricted balances of $4.3 million, committed balances of $15.9 million, assigned balances of $16.1 million, and an unassigned balance of $20.0 million.

Assets in the General Fund increased $6.8 million, or 12.8%, due to an increase in cash of $8.4 million which was offset by a decrease in other assets of $1.7 million, Liabilities decreased $0.9 million, or 22.3%, due to a decrease in Accounts Payable of $0.2 million and a decrease in Accrued Liabilities of $0.7 million.

Revenue increased by $1.8 million, or 4.1%, due to an increase in Property Taxes of $1.0 million (7.5%) and an $0.8 million (36.6%) increase in Investment Income. Expenditures decreased by $2.5 million, or 5.8%, which was caused by decreases in Public Protection expenditures of $3.0 million (11.5%); specifically, a $2.2 million decrease in Fire expenditures caused by a payment for Fire service in Fiscal Year 2023/24 for which there was no corresponding payment in Fiscal Year 2024/25. This decrease in Public Protection expenditures was partially offset by an increase in General Government expenditures of $0.6 million (17.1%); specifically, increases in both Finance Department expenditures of $0.3 million and the City Clerk’s Office expenditures of $0.2 million.

The assigned fund balance increased $2.3 million when compared to the figure from June 30, 2024, primarily due to the $1.1 million increase in the Fire Protection Reserve, a $1.5 million increase in the Police Protection Reserve, and a $0.4 million increase in the Annual Stipend Reserve, offset by the $0.7 million decrease in the Health Insurance Premium Reserve.

The unassigned fund balance increased by $5.4 million when compared to the fiscal year ending June 30, 2024. As a measurement of the General Fund’s liquidity, it may be useful to compare both unassigned fund balance and total fund balance to total General Fund expenditures. Unassigned fund balance represents approximately 49.4% of total General Fund expenditures, while total fund balance represents approximately 139.5% of total General Fund expenditures.

Other Major Funds
The General Development Impact Fee Special Revenue Fund, a major fund, had a $0.7 million (4.1%) increase in fund balance during Fiscal Year 2024/25. The increase in fund balance was due to revenues of $1.7 million exceeding the combination of expenditures of $0.5 million and transfers out of $0.4 million. Assets consist of $19.8 million, with cash making up 99.96% of Total Assets in this fund. Liabilities totaled $0.6 million. The ending fund balance of $19.2 million is restricted to use for capital projects and improvements.

The American Rescue Plan Act (ARPA) Fund had significant activity over the fiscal year. Over $9.4 million of ARPA funds were spent on Sewer and Water infrastructure projects, as designated by the City Council. All expenditures are shown in the Water and Sewer Funds. At the end of each quarter, the City submits its’ ARPA report to the Department of the Treasury then records a transfer out of the ARPA Fund into the Sewer and Water Funds based upon the amounts of the quarterly expenditures from each fund. Some of the water and sewer projects started or completed during the fiscal year were water pipeline replacement, water tower seismic evaluation and recoating, new water meter installations, and repair of the Avenue 13 sewer trunk main.

The Measure “T” Sales Tax Fund, a major fund, had a $3.9 million (22.8%) increase in fund balance during Fiscal Year 2024/25. The increase in fund balance was due to revenue of $4.9 million exceeding the combination of expenditures of $0.2 million and transfers out of $0.9 million. Assets consist of $21.9 million, with cash making up

84.2% of Total Assets in this fund. Liabilities totaled $0.9 million.

City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
17 The ending fund balance of $21.0 million is restricted to use for transportation infrastructure projects – e.g. local road repairs and maintenance, safe routes for pedestrians and bicyclists, evacuation route improvements, and regional projects.

Proprietary Funds: There are two types of Proprietary Funds: enterprise, and internal service funds. The City’s Proprietary Funds statements provide the same type of information found in the Government-Wide financial statements, but in more detail.

The City's enterprise funds, and internal service funds ended the year with total net position as follows:

Revenue was up slightly in the City’s enterprise funds in Fiscal Year 2024/25. Water revenue was up $2.2 million (16.8%), primarily due to a scheduled rate increase and a normal rain year compared to the winter of 2023-2024 (wetter winters result is less billable water usage), Sewer revenue was up $33,300 (0.3%), and Drainage Operations went up $600 (0.1%). The growth in revenues, except for Drainage Operations, was the product of scheduled rate increases that were approved by the City Council in July 2022. These rate increases are being phased over a five-year period, beginning upon adoption. However, not all enterprise funds which have scheduled rate increase saw a revenue increase in Fiscal Year 2024/25. Solid Waste revenue was down $1.0 million (7.9%) due to a reduction in Miscellaneous revenue of $1.3 million.

Operating expenses were lower in the Water ($2.0 million, or 21.5%), Sewer ($0.2 million, or 1.5%), and Drainage Operations ($0.2 million, or 14.0%) funds, primarily due to decreases in the Supplies and Miscellaneous and Salary and Benefits expenses. Expenses were higher for the Solid Waste fund in Fiscal Year 2024/25 by $0.3 million (2.9%) The increase in Solid Waste expenditures was due to increase in General & Administrative costs primarily from contracted solid waste disposal fees.

General Fund Budgetary Highlights
The General Fund ended Fiscal Year 2024/25 $8.7 million under budget. This variance was partially the result of increased revenues of $0.7 million, which was due to Property Taxes over budget by $0.7 million, Investment Income over budget by $1.9 million and Other Taxes over budget by $0.6 million. These overages were partially offset by shortfalls in Sales and Use Taxes of $0.1 million, and Intergovernmental Revenues under by $1.6 million.

However, the main contributor to the General Fund being under budget can be found in the Expenditures, which were under budget by $8.2 million (slightly offset by $0.2 million increase in Transfers In and Out). The biggest differences between budget and actual expenditure were in two areas: Capital Outlay was under budget by $3.6 million and Parks and Community Services was under budget by $2.2 million.  Actual expenditures for General Government came in $0.7 million under budget due to savings in City Clerk’s Office, City Manager’s Office, Finance, City Attorney, and Human Resources budgets, which was partially offset by spending more on Economic Development.

Water Fund $ 66,473,958
Sewer Fund 44,310,166
Solid Waste Fund 5,288,958
Drainage Operations Fund 18,801,020
Local Transit Fund 7,396,313
Golf Course Fund 1,223,903
Airport Fund 12,936,822
Fleet Maintenance Fund 9,469,084
Facilities Maintenance Fund 183,327
Technology Fund 622,658
City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
18  Actual expenditures for Public Safety came in at $0.5 million under budget due to decreased costs in contracted services for Fire, offset by an increase in personnel costs for Police.  Actual expenditures for Community Development came in at $2.7 million under budget due to a decrease of $1.4 million in Low/Moderate Income Housing expenditures and $0.8 million decrease in Residential Rehab expenditures.
 Actual expenditures for Capital Outlay were $3.6 million under budget due to Public Works department spending less on projects this fiscal year than in the previous fiscal year.

Capital Assets and Debt Administration
Capital Assets. The City's investment in capital assets for its governmental and business-type activities as of June 30, 2025, amounts to $315.3 million (net of depreciation and amortization): an increase of $20.8 million compared to Fiscal Year 2023/24.

Major capital asset additions this year include the following:
 Road network improvements - $10.5 million
o Developer donations (sidewalk, pavement, pipelines, and others) – $6.8 million o Various streets and bridge improvement projects – $3.2 million o Various park improvement projects – $0.5 million
 Equipment, machinery, and property purchases - $3.3 million  Water storage tank installation – $1.0 million
 Sewer trunk main rehabilitation – $14.6 million
 WWTP 2024 improvement project – $2.0 million
During the fiscal year, the City made improvements to various streets, bridges, parks, sewer mains, and received developer- donated infrastructure. Capital projects designed and/or constructed by the City and currently included in the City’s Construction in Progress account are as follows:
 Park improvements: Town & Country Park, Centennial Park, and Olive Knox Park  Street improvements: various streets
 Traffic signal improvements and installations: various locations  Water storage tank installation: Avenue 17 and Lake Street  Water meter installation: various streets
 Water main replacements and upgrades: various locations  Sewer trunk main rehabilitation: Avenue 13, Road 24 ½, and Granada Drive Developer constructed infrastructure was constructed in conjunction with the partial list of projects shown below:
 Iveywood I & II Subdivision
 Rancho Santa Fe Subdivision
 Ellis & D Street Subdivision
 Vineyard Estates III Subdivision
 California Custom Processing
 Fresno Madera Farm Credit
City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
19 Detailed information on the City's capital assets can be found in Note 7 of the Notes to the Basic Financial Statements.

Long-term Debt. The City's long-term debt as of June 30, 2025, was $50.4 million with Governmental Activities accounting for $19.8 million, or 39.3% of total long-term debt, and Business-type activities accounting for $30.6 million, or 60.7%. The total debt decreased by $3.5 million, or 6.5%, during the Fiscal Year 2024/25. The reason for the decrease was due to the principal payments made during the fiscal year.

General obligation debts are direct obligations of the City and are backed by the full faith and credit of the City requiring voter approval and may have a tax rate set to cover repayment. State statutes limit the amount of general obligation debt to 15% of the City's total assessed valuation. The City of Madera's debt limit is $726.9 million. Detailed information on the City's long-term debt activity can be found in Note 8 of the Notes to the Basic Financial Statements.

Economic Factors and Next Year's Budgets and Rates
During the fiscal year July 1, 2024, through June 30, 2025, the U.S. economy exhibited moderate growth. Real Gross Domestic Product (GDP) fluctuated over the year, with Bureau of Economic Analysis (BEA) estimates indicating expansion in the second quarter of 2025 at approximately 3.8% annualized and mixed results in other quarters, including a modest contraction early in 2025. Overall, economic growth for the fiscal year remained moderate but positive.

At the state level, California continued to be one of the largest economic contributors in the nation. According to the most recent BEA data, real GDP growth in California through the second quarter of 2025 was positive, although the quarterly pace varied. State-level data indicate that California’s economy expanded overall during the fiscal year, reinforcing its position as one of the largest sub-national economies in the world, with gross state product exceeding $4.0 trillion in 2024.

City of Madera
Management’s Discussion and Analysis (Unaudited) (Continued) For the Year Ended June 30, 2025
20 Because the Central Valley economy relies heavily on agriculture and related industries, local income and expenditure levels remained below those seen in major metropolitan regions of California. Ongoing challenges, including weather variability such as drought, labor availability constraints, and dependency on state and federal subsidies, continued to influence the City’s financial condition.

Looking ahead to the fiscal year July 1, 2025 through June 30, 2026, national GDP growth is expected to moderate further as the economy adjusts to tighter financial conditions, slowing consumer demand, and external economic pressures. Economic forecasts from leading institutions project U.S. growth to soften compared with the prior year.

Similarly, California’s economy is projected to maintain positive but more moderate growth, supported by innovationdriven sectors and consumer activity, while continuing to face pressures from housing costs, labor market constraints, and sector-specific challenges. Agriculture-dependent regions such as the Central Valley are likely to experience continued variability in revenues and expenditures tied to commodity prices, weather conditions, and labor availability.

The City continues to address these challenges by budgeting both revenues and expenditures conservatively. For example, the City has experienced a 10.5% growth rate in Property Tax revenue over the last four fiscal years. However, for the Fiscal Year 2025/26 budget, the City assumed only a 3.1% growth rate in Property Tax revenues. The lower than historical growth rate assumption increases the chances that the City will experience actual Property Tax receipts greater than budgeted amounts. Similar practices were applied to other estimated revenues and appropriations. Due to the conservative approach to budgeting and the City’s strong reserve levels, City management believes the City is well positioned to address any financial challenges that may arise during the foreseeable future.

BASIC FINANCIAL STATEMENTS
21 This page intentionally left blank.
22 GOVERNMENT-WIDE FINANCIAL STATEMENTS
23 Component Unit
Housing
Authority of the
Governmental Business-Type City of Madera
Activities Activities Total September 30, 2024
ASSETS
Current assets:

Cash and investments $ 113,266,250 $ 72,996,649 $ 186,262,899 $ 9,938,991 Accounts receivable, net 815,552 6,803,281 7,618,833 164,645 Intergovernmental receivable 11,799,825 1,643,550 13,443,375 - Lease receivable - due within one year 14,572 106,975 121,547 - Notes receivable - due within one year - - - 43,450
Prepaid items 318,990 109,496 428,486 141,817
Inventories 85,412 - 85,412 -
Internal balances 1,510,605 (1,510,604) 1 -
Total current assets 127,811,206 80,149,347 207,960,553 10,288,903 Noncurrent assets:

Restricted cash and investments 2,517,025 2,634,242 5,151,267 1,390,094 Lease receivable - due in more than one year 405,731 922,925 1,328,656 - Notes receivable - due in more than one year 8,003,577 - 8,003,577 2,795,634 Land held for resale 670,000 - 670,000 -
Capital assets:

Non-depreciable 42,763,328 34,603,232 77,366,560 675,827 Depreciable/amortizable, net 151,309,225 86,613,245 237,922,470 3,988,046 Total capital assets, net 194,072,553 121,216,477 315,289,030 4,663,873 Total noncurrent assets 205,668,886 124,773,644 330,442,530 8,849,601 Total assets 333,480,092 204,922,991 538,403,083 19,138,504

DEFERRED OUTFLOWS OF RESOURCES
Related to OPEB 859,210 202,091 1,061,301 -
Related to pensions 11,354,421 1,595,143 12,949,564 839,942 Total deferred outflows of resources 12,213,631 1,797,234 14,010,865 839,942 June 30, 2025
Statement of Net Position
City of Madera
Primary Government
See accompanying Notes to the Basic Financial Statements. 24 Component Unit
Housing
Authority of the
Governmental Business-Type City of Madera
Activities Activities Total September 30, 2024

LIABILITIES
Current liabilities:

Accounts payable 2,963,152 5,183,228 8,146,380 118,808
Accrued payroll 1,156,066 51,961 1,208,027 36,585
Deposits 627,874 343,369 971,243 222,153
Interest payable 96,204 2,085,911 2,182,115 -
Unearned revenue 3,897,670 91,147 3,988,817 70,830
Total OPEB liability - due within one year 236,772 46,874 283,646 - Compensated absences - due within one year 1,515,461 448,702 1,964,163 28,469 Long-term debt - due within one year 1,112,943 2,321,850 3,434,793 146,121 Total current liabilities 11,606,142 10,573,042 22,179,184 622,966 Noncurrent liabilities:

Other non-current liabilities - - - 248,235
Total OPEB liability - due in more than one year 3,939,908 779,980 4,719,888 - Aggregate net pension liability 45,499,177 9,144,441 54,643,618 4,093,808 Compensated absences - due in more than one year 1,168,607 204,871 1,373,478 28,469 Long-term debt - due in more than one year 18,718,712 28,291,470 47,010,182 2,360,446 Total noncurrent liabilities 69,326,404 38,420,762 107,747,166 6,730,958 Total liabilities 80,932,546 48,993,804 129,926,350 7,353,924

DEFERRED INFLOWS OF RESOURCES
Gain on refunding of debt - 219,519 219,519 -
Related to leases 385,716 1,001,552 1,387,268 -
Related to OPEB 374,852 74,210 449,062 -
Related to pensions 589,447 - 589,447 271,360
Total deferred inflows of resources 1,350,015 1,295,281 2,645,296 271,360

NET POSITION
Net investment in capital assets 174,895,436 90,383,638 265,279,074 2,157,306 Restricted:

Community development 12,008,236 - 12,008,236 -
Park development 164,493 - 164,493 -
Parking improvements 123,257 - 123,257 -
Public works and transportation 27,850,783 - 27,850,783 - Special assessment project 1,412,984 - 1,412,984 -
Law enforcement 928,319 - 928,319 -
Capital projects and improvements 23,647,677 - 23,647,677 - Housing services - - - 871,415
Debt service - 2,634,242 2,634,242 -
Total restricted 66,135,749 2,634,242 68,769,991 871,415 Unrestricted 22,379,977 63,413,260 85,793,237 9,324,441 Total net position $ 263,411,162 $ 156,431,140 $ 419,842,302 $ 12,353,162 Primary Government
City of Madera
Statement of Net Position (Continued)
June 30, 2025
See accompanying Notes to the Basic Financial Statements. 25 Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions Total Primary government:

Governmental activities:

General government $ 314,071 8,972,158 $ 291,168 $ 1,743 $ 606,982 $ Public protection 26,221,115 951,097 793,426 - 1,744,523 Social services 228,413 - - - -
Public ways and facilities 5,715,045 574,641 8,778,601 15,515,272 24,868,514 Community development 1,731,348 4,515,931 1,904,712 - 3,636,060 Culture and recreation 5,734,478 455,638 740,277 - 1,195,915 Interest on long-term debt 573,255 - - - -
Total governmental activities 51,960,395 4,026,795 12,508,184 15,517,015 32,051,994 Business-type activities:

Water 11,661,991 7,541,494 - 1,712,634 13,374,625
Sewer 12,266,155 11,173,895 - 1,480,928 13,747,083
Solid waste 9,083,822 12,027,576 - 7,245 12,034,821
Drainage operations 1,261,194 873,160 - 868,098 1,741,258 Local transit 2,739,217 3,756,292 648,454 121,374 3,509,045 Golf course 274,162 175,906 - 50,000 225,906
Airport 806,517 325,468 - 36,260 361,728
Total business-type activities 33,897,376 40,069,473 648,454 4,276,539 44,994,466 Total primary government 44,096,268 85,857,771 13,156,638 19,793,554 77,046,460 Component unit:

Housing Authority of the City of Madera 10,582,165 2,397,151 8,240,714 - 10,637,865 Total component unit $ 2,397,151 10,582,165 $ 8,240,714 $ - $ 10,637,865 $

City of Madera
Statement of Activities
For the Year Ended June 30, 2025
Program Revenues
See accompanying Notes to the Basic Financial Statements. 26 Component Unit
Housing
Authority of the
Governmental Business-type City of Madera
Functions/Programs Activities Activities Total September 30, 2024 Primary government:

Governmental activities:

General government $ - (8,365,176) $ (8,365,176) $ - $
Public protection (24,476,592) - (24,476,592) -
Social services (228,413) - (228,413) -
Public ways and facilities 19,153,469 - 19,153,469 -
Community development - (879,871) (879,871) -
Culture and recreation (4,538,563) - (4,538,563) -
Interest on long-term debt (573,255) - (573,255) -
Total governmental activities (19,908,401) - (19,908,401) - Business-type activities:

Water 5,833,131 - 5,833,131 -
Sewer 2,573,188 - 2,573,188 -
Solid waste - 2,950,999 2,950,999 -
Drainage operations - 480,064 480,064 -
Local transit (247,247) - (247,247) -
Golf course - (48,256) (48,256) -
Airport - (444,789) (444,789) -
Total business-type activities - 11,097,090 11,097,090 - Total primary government 11,097,090 (19,908,401) (8,811,311) - Component unit:

Housing Authority of the City of Madera - - - 55,700
Total component unit - - - 55,700
General Revenues and Transfers:

General revenues:

Taxes:

Property taxes 15,576,920 382,076 15,958,996 -
Sales and use taxes 19,712,059 - 19,712,059 -
Franchise taxes 836,662 - 836,662 -
Other taxes 2,702,053 - 2,702,053 -
Total taxes 38,827,694 382,076 39,209,770 -
Investment income 5,261,307 3,080,068 8,341,375 325,271 Miscellaneous revenue 1,069,475 4,118,432 5,187,907 309,316 Transfers 7,300,763 (7,300,763) - -
Total general revenues and transfers 14,881,339 37,857,713 52,739,052 634,587 Change in net position 25,978,429 17,949,312 43,927,741 690,287 Net Position:

Beginning of year, as restated (Note 19) 245,461,850 130,452,711 375,914,561 11,662,875 End of year $ 156,431,140 263,411,162 $ 419,842,302 $ 12,353,162 $ For the Year Ended June 30, 2025
Statement of Activities (Continued)
City of Madera
Net (Expense) Revenue
and Changes in Net Position
See accompanying Notes to the Basic Financial Statements. 27 This page intentionally left blank.
28 FUND FINANCIAL STATEMENTS
29 This page intentionally left blank.
30 Governmental Funds Financial Statements
General Fund - This 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. In Madera, these services include general government, public protection, social services, public ways and facilities, community development, and culture and recreation.

General Development Impact Fee Fund - This fund accounts for and reports the proceeds of the AB1600 development impact fee monies that are restricted or committed to expenditures for the intended purposes.

Measure "T" Sales Tax Fund - This fund is used to account for the receipt of gasoline tax revenue paid to the City as a subvention from the State of California. These funds support maintenance activities and finance street construction projects as provided by State law.

American Rescue Plan Act Fund - This fund is used to account for the grant revenues and expenditures received through the American Rescue Plan Act.
31 General
Development Measure "T"
General Impact Sales Tax
Fund Fee Fund Fund
ASSETS
Cash and investments $ 49,727,389 $ 19,780,586 $ 18,435,769 Restricted cash and investments - - -
Accounts receivable, net 712,774 6,754 -
Intergovernmental receivable 4,951,618 198 3,470,722
Lease receivable 420,303 - -
Notes receivable - - -
Prepaid items 116,214 - -
Inventories 85,412 - -
Due from other funds 4,123,540 - -
Land held for resale - - -
Total assets $ 60,137,250 $ 19,787,538 $ 21,906,491

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES, AND FUND BALANCES
Liabilities:

Accounts payable $ 2,071,388 $ - $ 9,680
Accrued payroll 1,122,242 - -
Due to other funds - - -
Deposits payable - 627,800 -
Unearned revenues 7,711 - -
Total liabilities 3,201,341 627,800 9,680

Deferred inflows of resources:

Unavailable revenue 6,455 - 897,972
Related to leases 385,716 - -
Total deferred inflows of resources 392,171 - 897,972

Fund Balances:

Nonspendable 201,626 - -
Restricted 4,299,453 19,159,738 20,998,839
Committed 15,927,664 - -
Assigned 16,092,149 - -
Unassigned (deficit) 20,022,846 - -
Total fund balances 56,543,738 19,159,738 20,998,839
Total liabilities, deferred inflows of
resources, and fund balances $ 60,137,250 $ 19,787,538 $ 21,906,491 Major Funds
City of Madera
Balance Sheet
Governmental Funds
June 30, 2025
See accompanying Notes to the Basic Financial Statements. 32 Major Funds
American Non-major Total
Rescue Plan Governmental Governmental
Act Fund Funds Funds
ASSETS
Cash and investments $ 4,417,022 $ 14,330,721 $ 106,691,487 Restricted cash and investments - 2,517,025 2,517,025
Accounts receivable, net - 52,899 772,427
Intergovernmental receivable - 3,377,287 11,799,825
Lease receivable - - 420,303
Notes receivable - 8,003,577 8,003,577
Prepaid items - 19,408 135,622
Inventories - - 85,412
Due from other funds - - 4,123,540
Land held for resale - 670,000 670,000
Total assets $ 4,417,022 $ 28,970,917 $ 135,219,218

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES, AND FUND BALANCES
Liabilities:

Accounts payable $ - $ 733,973 $ 2,815,041
Accrued payroll - 18,286 1,140,528
Due to other funds - 2,612,935 2,612,935
Deposits payable - 74 627,874
Unearned revenues 3,692,443 197,516 3,897,670
Total liabilities 3,692,443 3,562,784 11,094,048

Deferred inflows of resources:

Unavailable revenue - - 904,427
Related to leases - - 385,716
Total deferred inflows of resources - - 1,290,143

Fund Balances:

Nonspendable - 19,408 221,034
Restricted 724,579 25,388,725 70,571,334
Committed - - 15,927,664
Assigned - - 16,092,149
Unassigned (deficit) - - 20,022,846
Total fund balances 724,579 25,408,133 122,835,027
Total liabilities, deferred inflows of
resources, and fund balances $ 4,417,022 $ 28,970,917 $ 135,219,218 City of Madera
Balance Sheet (Continued)
Governmental Funds
June 30, 2025
See accompanying Notes to the Basic Financial Statements. 33 This page intentionally left blank.
34 Total Fund Balances - Total Governmental Funds $ 122,835,027 Unavailable revenues reported on the Governmental Fund Financial Statements resulting from activities in which revenues were earned but were not available are reclassified as revenues in the Government-Wide Financial Statements. 904,427 Capital Assets used in the governmental activities were not financial resources and therefore were not reported in the Governmental Funds Balance Sheet.

Government-Wide Statement of Net Position 194,072,553
Less: capital assets reported in Internal Service Funds (6,589,790) Total capital assets 187,482,763
Long-term liabilities are not due and payable in the current period and therefore were not reported in the Governmental Funds Balance Sheet.

Amount reported in Government-Wide Statement of Net Position Compensated absences - due within one year (1,515,461)
Compensated absences - due in more than one year (1,168,607) Long-term debt - due within one year (1,112,943)
Long-term debt - due in more than one year (18,718,712) Less: amount reported in Internal Service Funds:

Compensated absences - due within one year 85,433
Compensated absences - due in more than one year 140,968 Total long-term liabilities (22,289,322)
Interest payable on long-term debt did not require current financial resources. Therefore, interest payable was not reported as a liability in the governmental funds. (96,204) Aggregate net pension liability and total OPEB liability used in the governmental activities were not financial resources and therefore were not reported in the Governmental Funds Balance Sheet.

Net pension liability (45,499,177)
Total OPEB liability (4,176,680)
Less: amount reported in Internal Service Funds:

Net pension liability 2,997,975
Total OPEB liability 296,819
Total pension and OPEB (46,381,063)
Deferred outflows of resources related to OPEB and pensions are not available for current period and, therefore, are deferred in the governmental funds or not recorded in the governmental funds.

Amount reported in Government-Wide Statement of Net Position Deferred outflows of resources related to OPEB 859,210
Deferred outflows of resources related to pensions 11,354,421 Less: amount reported in Internal Service Funds:

Deferred outflows of resources related to OPEB (72,545) Deferred outflows of resources related to pensions (522,961) Total deferred outflows of resources 11,618,125
Deferred inflows of resources related to OPEB and pensions are not available for current period and, therefore, are deferred in the governmental funds or not recorded in the governmental funds.

Amount reported in Government-Wide Statement of Net Position Deferred inflows of resources related to OPEB (374,852) Deferred inflows of resources related to pensions (589,447) Less: amount reported in Internal Service Funds:

Deferred inflows of resources related to OPEB 26,639
Total deferred inflows of resources (937,660)
Internal service funds are used by management to charge the cost of fleet management, risk management, information technology, and building maintenance to individual funds. The assets and liabilities of the internal service funds are included in the governmental activities in the statement of net position. 10,275,069 Net Position of Governmental Activities $ 263,411,162
Amounts reported for Governmental Activities in the Statement of Net Position were different because:

City of Madera
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2025
See accompanying Notes to the Basic Financial Statements. 35 General
Development Measure "T"
General Impact Sales Tax
Fund Fee Fund Fund
REVENUES:

Property taxes $ 14,397,410 $ - $ -
Sales and use taxes 19,712,059 - -
Other taxes 2,462,529 - -
Investment income (loss) 3,151,997 913,198 709,995
Franchise fees 836,662 - -
Licenses and permits 888,204 - -
Fines and forfeitures 407,553 - -
Intergovernmental 2,185,542 - 4,202,917
Charges for services 931,029 801,278 -
Miscellaneous 640,283 - -
Total revenues 45,613,268 1,714,476 4,912,912

EXPENDITURES:

Current:

General government 3,852,750 - -
Public protection 22,834,657 - -
Social services 206,450 - -
Public ways and facilities 2,897,099 459,774 27,565
Community development 4,178,623 - -
Culture and recreation 4,885,103 - -
Capital outlay 1,233,608 71,230 129,198
Debt service:

Principal 281,839 - -
Interest and fiscal charges 152,344 - -
Total expenditures 40,522,473 531,004 156,763

REVENUES OVER (UNDER) EXPENDITURES 5,090,795 1,183,472 4,756,149 OTHER FINANCING SOURCES (USES):

Transfers in 4,705,328 - -
Transfers out (1,978,323) (433,771) (860,000)
Total other financing sources (uses) 2,727,005 (433,771) (860,000) NET CHANGE IN FUND BALANCES 7,817,800 749,701 3,896,149 FUND BALANCES:

Beginning of year 48,725,938 18,410,037 17,102,690
End of year $ 56,543,738 $ 19,159,738 $ 20,998,839
Major Funds
For the Year Ended June 30, 2025
Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances City of Madera
See accompanying Notes to the Basic Financial Statements. 36 Major Funds
American Non-major Total
Rescue Plan Governmental Governmental
Act Funds Funds
REVENUES:

Property taxes $ - $ 1,179,511 $ 15,576,921
Sales and use taxes - 19,712,059 -
Other taxes - 473,603 2,936,132
Investment income (loss) - 419,215 5,194,405
Franchise fees - - 836,662
Licenses and permits - - 888,204
Fines and forfeitures - 5,250 412,803
Intergovernmental 9,424,196 9,719,324 25,531,979
Charges for services - 439,823 2,172,130
Miscellaneous - 235,759 876,042
Total revenues 9,424,196 12,472,485 74,137,337

EXPENDITURES:

Current:

General government - 25,978 3,878,728
Public protection - 1,781,442 24,616,099
Social services - - 206,450
Public ways and facilities - 938,199 4,322,637
Community development - 222,698 4,401,321
Culture and recreation - 109,371 4,994,474
Capital outlay - 3,735,996 5,170,032
Debt service:

Principal - 856,000 1,137,839
Interest and fiscal charges - 459,072 611,416
Total expenditures - 8,128,756 49,338,996

REVENUES OVER (UNDER) EXPENDITURES 9,424,196 4,343,729 24,798,341 OTHER FINANCING SOURCES (USES):

Transfers in 95,649 3,384,380 8,185,357
Transfers out (9,142,484) (3,154,931) (15,569,509)
Total other financing sources (uses) (9,046,835) 229,449 (7,384,152) NET CHANGE IN FUND BALANCES 377,361 4,573,178 17,414,189 FUND BALANCES:

Beginning of year 347,218 20,834,955 105,420,838
End of year $ 724,579 $ 25,408,133 $ 122,835,027
City of Madera
Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Governmental Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements. 37 Net Changes in Fund Balances - Total Governmental Funds $ 17,414,189 Governmental funds reported capital outlay as expenditures. However, in the Government-Wide Statement of Activities, the cost of those assets was allocated over their estimated useful lives as depreciation and amortization expenses. This is the amount of capital assets recorded in the current period (net of $2,530,464 added in internal service funds) ($748,295 of the governmental fund capital outlay balance were for repairs and maintenance expenditures). 4,421,737 In the Government-Wide Statement of Activities, donated assets are reported as a capital contribution. 3,872,721 Depreciation and amortization expense on capital assets was reported in the Government-Wide Statement of Activities and Changes in Net Position, but they did not require the use of current financial resources. Therefore, depreciation and amortization expense, net of internal service funds of $852,454, was not reported as expenditures in the Governmental Funds. (6,626,055)
Repayment of long-term liabilities was an expenditures in governmental funds, but the repayment reduced long-term liabilities in the Government-Wide Statement of Net Position.

Principal payment of long-term debt, net of internal services funds of $97,405. 1,137,839 Amortization of bond premium 32,408
Interest expense on long-term debt was reported in the Government-Wide Statement of Activities, but it did not require the use of current financial resources. This amount represented the changes in accrued interest from prior year. 5,753 Compensated absences expenses reported in the Government-Wide Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in the governmental funds. (net of $19,228 deducted in internal service funds). (42,097)
Revenues in the Government-Wide Statement of Activities that do not provide current financial resources and are not reported as revenue in the governmental funds. (801,331) Certain pension expenses reported in the Government-Wide Statement of Activities do not require the use of current financial resources and therefore, are not reported as expenditures in governmental funds.

Changes in pension related deferred outflows of resources (3,493,854) Changes in net pension liabilities 145,509
Changes in pension related deferred inflows of resources (327,746) Certain OPEB expenses reported in the Government-Wide Statement of Activities do not require the use of current financial resources and therefore, are not reported as expenditures in governmental funds.

Changes in OPEB related deferred outflows of resources (24,076) Changes in total OPEB liabilities (212,240)
Changes in OPEB related deferred inflows of resources (175,591) The internal service funds are used by management to charge the costs of fleet maintenance, facilities maintenance, and technology to individual funds. The net revenue of certain activities of internal service funds is reported with governmental activities. 2,622,146
Change in Net Position of Governmental Activities $ 17,949,312 Amounts reported for Governmental Activities in the Statement of Net Position were different because:

City of Madera
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Government-Wide Statement of Activities and Changes in Net Position For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements. 38 Proprietary Funds Financial Statements
Water Fund - This fund is used to account for the activities of the City's water pumping, treatment and distribution operations.

Sewer Fund - This fund is used to account for the activities of the City's sewer collection and treatment operations.

Solid Waste Fund - This fund is used to account for the activities of the City's solid waste operations.

Drainage Operations Fund - This fund is used to account for the activities of the City's drainage operations.

Internal Service Funds - These funds are used to provide goods and services by one department or agency to other departments or agencies of the City on a cost reimbursement basis. 39 Drainage
Water Sewer Solid Waste Operations
Fund Fund Fund Fund
ASSETS
Current assets:

Cash and investments 47 $ 15 ,805,582 $ 6 ,497,291 $ 941 ,570,403 $ ,192 Accounts receivable, net 1 4,618,359 989 ,107,369 62 ,003 ,112 Intergovernmental receivable 40 - 3,582 -
Lease receivable - due within one year - - - -
Prepaid items 4 64,303 18 ,042 9 ,618 ,983
Total current assets 52,488,284 16,612,284 7,578,024 1,013,287 Noncurrent assets:

Restricted cash and investments 378 2 ,739 - ,255,503 - Lease receivable - due in more than one year - - - -
Capital assets:

Non-depreciable 22 3,502,889 - ,096,432 4 ,055,914
Depreciable, net 32 24,317,898 - ,307,684 14 ,363,068
Total capital assets 27,820,787 54,404,116 - 18,418,982 Total noncurrent assets 56,659,619 28,199,526 - 18,418,982 Total assets 73,271,903 80,687,810 7,578,024 19,432,269

DEFERRED OUTFLOWS OF RESOURCES
Related to OPEB 103,636 82,909 5,182 5,182
Related to pensions 519,212 588,869 183,787 116,274
Total deferred outflows of resources 671,778 622,848 188,969 121,456

LIABILITIES
Current liabilities:

Accounts payable 2 1,102,461 1 ,369,228 2 ,300,156 ,028 Accrued payroll 19 14,866 5 ,262 3 ,189 ,551
Due to other funds - - - -
Interest payable 270 72,945 - ,424 -
Deposits payable - 2,072,411 - -
Unearned revenue 89 - ,095 1 200 ,852
Total OPEB liability - due within one year 19 24,038 1 ,230 1 ,202 ,202 Compensated absences - due within one year 167 179,188 42 ,832 29 ,067 ,559 Long-term debt - due within one year 1 567,850 - ,754,000 - Total current liabilities 4,122,854 4,599,976 1,350,466 36,540 Noncurrent liabilities:

Total OPEB liability - due in more than one year 399,990 319,993 19,999 19,999 Aggregate net pension liability 3,375,794 2,976,474 1,053,592 666,558 Compensated absences - due in more than one year 83,131 12,513 52,075 27,705 Long term debt - due in more than one year 7,201,470 21,090,000 - - Total noncurrent liabilities 10,661,065 24,798,300 1,125,666 714,262 Total liabilities 14,783,919 29,398,276 2,476,132 750,802

DEFERRED INFLOWS OF RESOURCES
Gain on refunding of debt 204 14,725 - ,794 -
Related to leases - - - -
Related to OPEB 38 30 ,056 1 ,445 1 ,903 ,903
Related to pensions - - - -
Total deferred inflows of resources 235,239 52,781 1,903 1,903

NET POSITION
Net investment in capital assets 31 20,036,742 - ,355,322 18 ,418,982 Restricted:

Debt service 378 2 ,739 - ,255,503 -
Unrestricted 46 10 ,058,477 5 ,699,341 382 ,288,958 ,038 Total net position $ 66,473,958 $ 44,310,166 $ 5,288,958 $ 18,801,020 Major Funds
City of Madera
Statement of Net Position
Proprietary Funds
June 30, 2025
See accompanying Notes to the Basic Financial Statements. 40 Governmental
Activities
Non-major Internal
Funds Total Service Funds
ASSETS
Current assets:

Cash and investments 2 $ 72 ,182,181 $ 6 ,996,649 $ ,574,763 Accounts receivable, net 6 26,438 43 ,803,281 ,125
Intergovernmental receivable 1 1,639,928 - ,643,550
Lease receivable - due within one year 106 106,975 - ,975 Prepaid items 109 12,550 183 ,496 ,368
Total current assets 3,968,072 81,659,951 6,801,256
Noncurrent assets:

Restricted cash and investments - - 2,634,242
Lease receivable - due in more than one year 922 922,925 - ,925 Capital assets:

Non-depreciable 34 4,947,997 300 ,603,232 ,157
Depreciable, net 86 15,624,595 6 ,613,245 ,289,633
Total capital assets 20,572,592 121,216,477 6,589,790
Total noncurrent assets 124,773,644 21,495,517 6,589,790 Total assets 206,433,595 25,463,589 13,391,046

DEFERRED OUTFLOWS OF RESOURCES
Related to OPEB 5,182 202,091 72,545
Related to pensions 187,001 1,595,143 522,961
Total deferred outflows of resources 1,797,234 192,183 595,506

LIABILITIES
Current liabilities:

Accounts payable 5 409,355 148 ,183,228 ,111
Accrued payroll 51 9,093 15 ,961 ,538
Due to other funds 1 1 ,510,604 - ,510,604
Interest payable 343 - - ,369
Deposits payable 2 13,500 - ,085,911
Unearned revenue - - 91,147
Total OPEB liability - due within one year 46 1,202 16 ,874 ,826 Compensated absences - due within one year 448 30,056 85 ,702 ,433 Long-term debt - due within one year 2 - - ,321,850
Total current liabilities 1,973,810 12,083,646 265,908
Noncurrent liabilities:

Total OPEB liability - due in more than one year 19,999 779,980 279,993 Aggregate net pension liability 9,144,441 1,072,023 2,997,975 Compensated absences - due in more than one year 29,447 140,968 204,871 Long term debt - due in more than one year 28,291,470 - - Total noncurrent liabilities 1,121,469 38,420,762 3,418,936 Total liabilities 3,095,279 50,504,408 3,684,844

DEFERRED INFLOWS OF RESOURCES
Gain on refunding of debt - - 219,519
Related to leases 1 1 ,001,552 - ,001,552
Related to OPEB 1 74 ,903 26 ,210 ,639
Related to pensions - - -
Total deferred inflows of resources 1,295,281 1,003,455 26,639

NET POSITION
Net investment in capital assets 90 20,572,592 6 ,383,638 ,589,790 Restricted:

Debt service 2 - - ,634,242
Unrestricted 984 63 ,446 3 ,413,260 ,685,279
Total net position $ 21,557,038 $ 156,431,140 $ 10,275,069 City of Madera
Statement of Net Position (Continued)
Proprietary Funds
June 30, 2025
See accompanying Notes to the Basic Financial Statements. 41 Drainage
Water Sewer Solid Waste Operations
Fund Fund Fund Fund
OPERATING REVENUES:

Charges for services 11,661,991 $ 12,266,155 $ 12,027,576 $ 873,160 $ Miscellaneous revenue 3,422,840 418,232 681 32,284
Total operating revenues 12,684,387 15,084,831 12,028,257 905,444 OPERATING EXPENSES:

Salaries and benefits 1,572,307 2,425,373 595,955 522,480 General and administrative 2,400,715 2,502,783 8,428,636 324,565 Supplies and miscellaneous 468,069 624,078 48,630 28,401 Utilities 2,035,381 2,323,728 10,601 25,379
Depreciation/amortization 960,922 2,431,652 - 360,369
Total operating expenses 10,307,614 7,437,394 9,083,822 1,261,194 OPERATING INCOME (LOSS) 2,376,773 7,647,437 2,944,435 (355,750) NONOPERATING REVENUES (EXPENSES):

Investment income 2,065,500 641,538 217,450 42,761
Property taxes - 178,573 - -
Operating grants - - - -
Interest expense (104,100) (866,281) - -
Total nonoperating revenues (expenses) (46,170) 1,961,400 217,450 42,761

INCOME (LOSS) BEFORE CAPITAL
CONTRIBUTIONS AND TRANSFERS 2,330,603 9,608,837 3,161,885 (312,989)

CAPITAL CONTRIBUTIONS AND TRANSFERS
Capital contributions 1,008,508 1,125,214 - 862,147
Capital grants 704,126 355,714 7,245 5,951
Transfers in 139,009 9,537,780 37,974 75,002
Transfers out (1,182,696) (558,444) (575,754) (84,646)
Total capital contributions and transfers 668,947 10,460,264 (530,535) 858,454 Changes in net position 10,277,784 12,790,867 2,631,350 545,465 NET POSITION:

Beginning of year, as restated (Note 19) 56,196,174 31,519,299 2,657,608 18,255,555 End of year $ 66,473,958 $ 44,310,166 $ 5,288,958 $ 18,801,020 Major Funds
City of Madera
Statement of Revenues, Expenses, and Changes in Net Position Proprietary Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements. 42 Governmental
Activities
Non-major Internal
Funds Total Service Funds
OPERATING REVENUES:

Charges for services $ 3,240,591 $ 40,069,473 $ 6,285,635 Miscellaneous revenue 244,395 4,118,432 437,445
Total operating revenues 3,484,986 44,187,905 6,723,080 OPERATING EXPENSES:

Salaries and benefits 629,728 5,745,843 1,431,673
General and administrative 2,838,270 16,494,969 1,089,012 Supplies and miscellaneous 359,066 1,528,244 502,473
Utilities 29,975 4,425,064 564,177
Depreciation/amortization 979,932 4,732,875 852,454
Total operating expenses 4,836,971 32,926,995 4,439,789 OPERATING INCOME (LOSS) (1,351,985) 11,260,910 2,283,291 NONOPERATING REVENUES (EXPENSES):

Investment income 112,819 3,080,068 258,083
Property taxes 203,503 382,076 -
Operating grants 648,454 648,454 -
Interest expense - (970,381) (1,756)
Total nonoperating revenues (expenses) 964,776 3,140,217 253,723

INCOME (LOSS) BEFORE CAPITAL
CONTRIBUTIONS AND TRANSFERS (387,209) 14,401,127 2,537,014

CAPITAL CONTRIBUTIONS AND TRANSFERS
Capital contributions 145,233 3,141,102 1,743
Capital grants 62,401 1,135,437 -
Transfers in 66,039 9,855,804 582,403
Transfers out (153,501) (2,555,041) (499,014)
Total capital contributions and transfers 120,172 11,577,302 85,132 Changes in net position (267,037) 25,978,429 2,622,146
NET POSITION:

Beginning of year, as restated (Note 19) 21,824,075 130,452,711 7,652,923 End of year $ 21,557,038 $ 156,431,140 $ 10,275,069
For the Year Ended June 30, 2025
City of Madera
Statement of Revenues, Expenses, and Changes in Net Position (Continued) Proprietary Funds
See accompanying Notes to the Basic Financial Statements. 43 Drainage
Water Sewer Solid Waste Operations
Fund Fund Fund Fund
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers 10 $ 12 ,219,750 $ 12 ,794,876 $ 895 ,404,003 $ ,789 Cash payments to suppliers for goods and services (4,998,519) (4,224,981) (9,618,058) (388,602) Cash payments to employees for services (2,212,758) (2,471,181) (756,390) (528,506) Other operating revenues and expenses 418 3,422,840 681 ,232 32 ,284 Net cash provided by (used in) operating activities 6 6,431,313 2 ,516,946 10 ,030,236 ,965 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:

Operating grants - - - -
Property taxes 178 - - ,573 -
Due to other funds - - - -
Transfers from other funds 139 9 ,009 37 ,537,780 75 ,974 ,002 Transfers to other funds (1,182,696) (558,444) (575,754) (84,646) Net cash provided by (used in) noncapital financing activities (1,043,687) 9,157,909 (537,780) (9,644)

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Capital grants 355 704,086 7 ,933 ,245 6,761
Acquisition of capital assets (2,103,117) (16,754,772) - (5,514) Principal payment of long-term debt (569,036) (1,919,298) - - Interest paid on debt (94,577) (681,487) - -
Net cash provided by (used in) capital and related financing activities (2,062,644) (18,999,624) 7,245 1,247 CASH FLOWS FROM INVESTING ACTIVITIES:

Interest from investments 641 2,065,500 217 ,538 42 ,450 ,761 Net cash provided by investing activities 641 2,065,500 217 ,538 42 ,450 ,761 Net change in cash and cash equivalents 5,390,482 (2,683,231) 45 1,717,151 ,329 CASH AND CASH EQUIVALENTS:

Beginning of year 20 42,793,839 4 ,436,025 895 ,853,252 ,863 End of year $ 17 48,184,321 $ 6 ,752,794 $ 941 ,570,403 $ ,192

RECONCILIATION OF CASH AND CASH
EQUIVALENTS TO STATEMENT OF NET POSITION:

Cash and investments 47 $ 15 ,805,582 $ 6 ,497,291 $ 941 ,570,403 $ ,192 Restricted cash and investments 378 2 ,739 - ,255,503 - Total cash and cash equivalents $ 17 48,184,321 $ 6 ,752,794 $ 941 ,570,403 $ ,192

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:

Operating income (loss) $ 2 7,647,437 $ 2 ,376,773 $ ,944,435 $ (355,750) Adjustments to reconcile operating (loss) to net
cash provided by (used in) operating activities:

Depreciation/amortization 2 960,922 - ,431,652 360 ,369 Changes in operating assets and liabilities, and
deferred outflows and inflows of resources:

Accounts receivable, net (1,532,401) 464 528,721 22 ,208 ,629 Lease receivable - - - -
Prepaid items (48,430) 2,245 (18,337) (258)
Deferred outflows - OPEB related (10,448) (22,336) 4,138 (523) Deferred outflows - pension related 307 440,241 112 ,572 58 ,270 ,697 Accounts payable (45,924) 1,223,363 (1,111,854) (9,999) Accrued payroll 2,626 5,541 1,154 886
Deposits payable - 79,960 - -
Unearned revenue - 10,200 (87,781) -
Compensated absences (37,023) (27,001) (66,096) 2,803
Aggregate net pension liability (1,043,105) (379,800) (186,723) (66,476) Total OPEB liability 2,462 65,205 (20,956) 123
Deferred inflows - lease related - - - -
Deferred inflows - OPEB related 17 18,215 ,548 (81) 911 Deferred inflows - pension related (13,419) (12,537) (4,141) (2,447) Total adjustments (1,216,124) 4,140,173 (914,199) 366,715 Net cash provided by (used in) operating activities $ 6 6,431,313 $ 2 ,516,946 $ 10 ,030,236 $ ,965 NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:

Contributed property, plant and equipment $ 1 1,008,508 $ - ,125,214 $ 862 $ ,147 Total noncash capital and related financing activities $ 1 1,008,508 $ - ,125,214 $ 862 $ ,147 Major Funds
City of Madera
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements. 44 Governmental
Activities
Non-major Internal
Funds Total Service Funds
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers $ 39 3,263,221 $ 6 ,577,639 $ ,323,325 Cash payments to suppliers for goods and services (3,079,541) (22,309,701) (2,569,396) Cash payments to employees for services (759,651) (6,728,486) (2,151,416) Other operating revenues and expenses 4 244,395 437 ,118,432 ,445 Net cash provided by (used in) operating activities (331,576) 2 14,657,884 ,039,958 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:

Operating grants 653 653,946 - ,946
Property taxes 382 203,503 - ,076
Due to other funds (230,548) (230,548) -
Transfers from other funds 9 66,039 582 ,855,804 ,403
Transfers to other funds (153,501) (2,555,041) (499,014) Net cash provided by (used in) noncapital financing activities 8 539,439 83 ,106,237 ,389

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Capital grants 1 135,966 - ,209,991
Acquisition of capital assets (203,172) (19,066,575) (2,528,721) Principal payment of long-term debt - (2,488,334) (96,792) Interest paid on debt - (776,064) (1,756)
Net cash provided by (used in) capital and related financing activities (67,206) (21,120,982) (2,627,269) CASH FLOWS FROM INVESTING ACTIVITIES:

Interest from investments 3 112,819 258 ,080,068 ,083
Net cash provided by investing activities 3 112,819 258 ,080,068 ,083 Net change in cash and cash equivalents 4 253,476 ,723,207 (245,839) CASH AND CASH EQUIVALENTS:

Beginning of year 70 1,928,705 6 ,907,684 ,820,602
End of year $ 75 2,182,181 $ 6 ,630,891 $ ,574,763

RECONCILIATION OF CASH AND CASH
EQUIVALENTS TO STATEMENT OF NET POSITION:

Cash and investments $ 72 2,182,181 $ 6 ,996,649 $ ,574,763 Restricted cash and investments 2 - - ,634,242
Total cash and cash equivalents $ 75 2,182,181 $ 6 ,630,891 $ ,574,763

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:

Operating income (loss) $ (1,351,985) $ 2 11,260,910 $ ,283,291 Adjustments to reconcile operating (loss) to net
cash provided by (used in) operating activities:

Depreciation/amortization 4 979,932 852 ,732,875 ,454
Changes in operating assets and liabilities, and
deferred outflows and inflows of resources:

Accounts receivable, net 30,274 (486,569) 37,690
Lease receivable 50 50,869 - ,869
Prepaid items (4,110) (68,890) (90,123)
Deferred outflows - OPEB related (523) (29,692) 11,326
Deferred outflows - pension related 1 126,537 447 ,045,317 ,667 Accounts payable 207 151,880 ,466 (323,611)
Accrued payroll 2,758 3 12,965 ,680
Deposits payable 79 29 - ,989
Unearned revenue - (77,581) -
Compensated absences (13,815) (141,132) (26,618)
Aggregate net pension liability (241,530) (1,917,634) (1,068,415) Total OPEB liability 46 123 ,957 (82,590)
Deferred inflows - lease related (58,542) (58,542) -
Deferred inflows - OPEB related 37 911 8 ,504 ,782
Deferred inflows - pension related (4,384) (36,928) (13,575) Total adjustments 3 1,020,409 ,396,974 (243,333)
Net cash provided by (used in) operating activities $ (331,576) $ 2 14,657,884 $ ,039,958 NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:

Contributed property, plant and equipment $ 3 95,233 $ 1 ,091,102 $ ,743 Total noncash capital and related financing activities $ 3 95,233 $ 1 ,091,102 $ ,743 Statement of Cash Flows (Continued)
City of Madera
Proprietary Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements. 45 This page intentionally left blank.
46 Fiduciary Funds Financial Statements
Custodial Funds - These funds are used to report fiduciary activities that are not required to be reported in pension (and other employee benefit) trust funds, investment trust funds, or private purpose trust funds. This includes the Madera General Deposit Custodial Fund and Community Facilities Districts Custodial Fund.

RDA Successor Agency Private Purpose Trust Fund - This fund is used to account for monies received from the Madera County Auditor Controller for the repayment of the enforceable obligations of the former Madera Community Development Agency. These funds are restricted for the sole purpose of payment of items on an approved Recognized Payment Obligation Schedule (ROPS).
47 This page intentionally left blank.
48 RDA
Successor Agency
Custodial Private Purpose
Funds Trust Fund
ASSETS
Cash and investments $ 2,419,556 $ 6,877,789
Accounts receivable, net 958 25,484
Prepaid items 925 125
Restricted cash and investments with fiscal agent 54,039 9,233 Land held for resale - 278,207
Capital asset, not being depreciated - 16,701
Capital asset, being depreciated, net - 1,424,272
Total assets 2,475,478 8,631,811

LIABILITIES
Accounts payable 36,026 4
Interest payable - 411,839
Long-term debt - due within one year - 1,630,000
Long-term debt - due in more than one year 28,401,977 - Total liabilities 36,026 30,443,820

NET POSITION (DEFICIT)
Restricted for individuals, organizations, and other governments 2,439,452 - Held in trust for dissolution of RDA (21,812,009) -
Total net position (deficit) $ 2,439,452 $ (21,812,009) City of Madera
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2025
See accompanying Notes to the Basic Financial Statements. 49 RDA
Successor Agency
Custodial Private Purpose
Funds Trust Fund
ADDITIONS:

Fee collections for other governments $ 1,624,275 $ -
Special assessments for other governments 195,301 -
Investment income 22,703 157,001
RDA property tax trust fund distribution - 3,093,695
Other payments received - 1,200
Total additions 1,842,279 3,251,896
DEDUCTIONS:

Administration 8,202 -
Project payments 1,606,966 6,195
Payments on conduit bonds - principal 107,744 -
Payments on conduit bonds - interest 73,389 -
Depreciation - 34,738
Interest expense - 1,018,244
Total deductions 1,796,301 1,059,177
Change in net position 45,978 2,192,719
NET POSITION (DEFICIT):

Beginning of year 2,393,474 (24,004,728)
End of year $ 2,439,452 $ (21,812,009)
City of Madera
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements. 50 51

NOTES TO THE BASIC FINANCIAL STATEMENTS
52 This page intentionally left blank.

City of Madera
Index of Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
53 Note 1 – Summary of Significant Accounting Policies ............................................................................................... 57 A. Financial Reporting Entity .......................................................................................................................... 57 B. Basis of Presentation, Accounting and Measurement Focus ....................................................................... 58 C. Deferred Outflows and Inflows of Resources ............................................................................................. 62 D. Cash, Cash Equivalents and Investments .................................................................................................... 63 E. Restricted Assets ......................................................................................................................................... 64 F. Receivables .................................................................................................................................................. 64 G. Interfund Transactions ................................................................................................................................. 64 H. Inventory ..................................................................................................................................................... 64 I. Prepaid Items ............................................................................................................................................... 64 J. Leases .......................................................................................................................................................... 64 K. Subscription-Based Information Technology Arrangements (SBITAs) ..................................................... 65 L. Land Held for Resale ................................................................................................................................... 66 M. Capital Assets .............................................................................................................................................. 66 N. Long-Term Debt .......................................................................................................................................... 67 O. Compensated Absences ............................................................................................................................... 67 P. Pension Plans ............................................................................................................................................... 68 Q. Other Postemployment Benefits (OPEB) .................................................................................................... 68 R. Fund Balances ............................................................................................................................................. 69 S. Net Position ................................................................................................................................................. 69 T. Property Taxes ............................................................................................................................................. 70 U. Use of Accounting Estimates ...................................................................................................................... 70 V. Implementation of New GASB Pronouncements for the Year Ended June 30, 2025 ................................. 70 W. Upcoming Government Accounting Standards Implementations ............................................................... 71 Note 2 – Cash and Investments – City ......................................................................................................................... 72 A. Summary ..................................................................................................................................................... 72 B. Demand Deposits ......................................................................................................................................... 72 C. Investments Authorized by the California Government
Code and the City’s Investment Policy ................................................................................................. 73 D. Investments Authorized by Debt Agreements ............................................................................................. 73 E. Fair Value Measurement ............................................................................................................................. 74 F. Risk Disclosure ............................................................................................................................................ 74 G. Investment in State Investment Pool ........................................................................................................... 76 H. California Asset Management Program (CAMP) ...................................................................................... 77 Note 3 – Cash and Investments – Component Unit.................................................................................................... 77 A. Summary ..................................................................................................................................................... 77 B. Demand Deposits ......................................................................................................................................... 77 C. Investments Authorized by the California Government
Code and the Housing Authority’s Investment Policy .......................................................................... 78 D. Risk Disclosure ............................................................................................................................................ 78 E. Investment in State Investment Pool ........................................................................................................... 79 Note 4 – Notes Receivables ........................................................................................................................................... 80 A. Governmental Activities .............................................................................................................................. 80 B. Component Unit .......................................................................................................................................... 81 City of Madera
Index of Notes to the Basic Financial Statements (Continued) For the Year Ended June 30, 2025
54 Note 5 – Lease Receivable............................................................................................................................................. 82 A. Governmental Activities .............................................................................................................................. 82 B. Business-Type Activities ............................................................................................................................. 82 Note 6 – Interfund Receivables, Payables, and Transfers ......................................................................................... 83 A. Due To / From Other Funds ........................................................................................................................ 83 B. Transfers ...................................................................................................................................................... 84 Note 7 – Capital Assets ................................................................................................................................................. 85 A. Governmental Activities .............................................................................................................................. 85 B. Business-Type Activities ............................................................................................................................. 86 C. Fiduciary Fund Financial Statements .......................................................................................................... 87 D. Component Unit .......................................................................................................................................... 87 Note 8 – Long-Term Liabilities .................................................................................................................................... 88 A. Governmental Activities .............................................................................................................................. 88 B. Business-Type Activities ............................................................................................................................. 91 C. Fiduciary Fund Financial Statements .......................................................................................................... 93 D. Component Unit .......................................................................................................................................... 94 Note 9 – Special Assessment Debt with No City Commitment ................................................................................. 95 Note 10 – Compensated Absences ................................................................................................................................ 96 A. Governmental Activities .............................................................................................................................. 96 B. Business-Type Activities ............................................................................................................................. 96 C. Component Unit .......................................................................................................................................... 96 Note 11 – Risk Management ......................................................................................................................................... 97 Note 12 – Pension Plans ................................................................................................................................................ 98 A. Summary ..................................................................................................................................................... 98 B. City Miscellaneous Plan .............................................................................................................................. 99 C. City Safety Plan ......................................................................................................................................... 104 D. Component Unit Miscellaneous Plan ........................................................................................................ 109 Note 13 – Other Postemployment Benefits ............................................................................................................... 115 A. Summary ................................................................................................................................................... 115 B. General Information about OPEB ............................................................................................................. 115 C. Total OPEB Liability, OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB ........................................................................................................ 116 City of Madera
Index of Notes to the Basic Financial Statements (Continued) For the Year Ended June 30, 2025
55 Note 14 – Deferred Compensation Plan .................................................................................................................... 118 A. City ............................................................................................................................................................ 118 B. Component Unit ........................................................................................................................................ 119 Note 15 – Service Concession Agreement ................................................................................................................. 119 Note 16 – Other Required Disclosures ...................................................................................................................... 119 A. Deficit Fund Balances/Net Position .......................................................................................................... 119 B. Expenditures Exceeding Appropriations ................................................................................................... 119 Note 17 – Fund Balance Classification ...................................................................................................................... 120 Note 18 – Net Investment in Capital Assets .............................................................................................................. 121 Note 19 – Adjustments and Restatements of Beginning Balances .......................................................................... 121 Note 20 – Commitments and Contingencies ............................................................................................................. 122 A. Litigation ................................................................................................................................................... 122 B. Contingent Liabilities ................................................................................................................................ 122 C. Federal and State Grants ........................................................................................................................... 122 D. Contractual Commitments ........................................................................................................................ 122 E. Encumbrances ........................................................................................................................................... 123 F. Sales Tax Sharing Agreement ................................................................................................................... 123 56 This page intentionally left blank.

City of Madera
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
57 Note 1 – Summary of Significant Accounting Policies
The basic financial statements of the City of Madera, California (the “City”) have been prepared in conformity with Accounting Principles Generally Accepted in the United States of America (“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 standards in the United States. The more significant of the City’s accounting policies are described below.

A. Financial Reporting Entity
The City was incorporated in 1907 under the general laws of the State of California. The City operates under a Council-Manager form of government and provides the following services: public protection, health and social services, public ways and facilities, community development (planning, building and zoning), culture-recreation, public utilities (water, sewer, solid waste, and drainage operations), airport services, local transportation, golf course, and general administrative services.

The financial reporting entity consists of the primary government, the City, and its component units. Component units are legally separate entities for which the elected officials of the primary government are financially accountable. In addition, component units can be other organizations for which the primary government is accountable and their exclusion would cause the reporting entity’s financial statements to be misleading or incomplete.

Blended Component Units
Blended component units, although legally separate entities, are, in substance part of the government’s operation.

As a result, data from these units are combined with data of the primary government. Discretely presented component units, on the other hand, are reported in a separate column in the combined financial statements to emphasize that they are legally separate from the government.

Although the following are legally separate from the City, they have been “blended” as though they are part of the City because the component unit’s governing body is substantially the same as the City’s and there is a financial benefit or burden relationship between the City and the component unit; management of the City has operational responsibilities for the component units; and/or the component units provide services entirely, or almost entirely, to the City or otherwise exclusively, or almost exclusively, benefits the City, even though it does not provide services directly to it.

Madera Public Financing Authority (Financing Authority) The Madera Public Financing Authority (“Financing Authority”) was created in 1989. The Financing Authority is a joint exercise of joint powers. The City Council serves as directors of the Financing Authority. The purpose of the Financing Authority is to act as a financing/lending type of entity only. No separate annual financial statements are prepared for the Financing Authority. Since the City Council previously served as the government board for this component unit, the City’s component unit was considered to be a blended component unit.

Blended component units, although legally separate entities, are in substance, part of the City’s operations and financial information was reported with the primary government.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
58 Note 1 – Summary of Significant Accounting Policies (Continued) A. Financial Reporting Entity (Continued)
Discretely Presented Component Units
A discretely presented component unit is reported in a separate column in the government-wide financial statements to emphasize that it is legally separate from the City.

Housing Authority of the City of Madera (Housing Authority) The Housing Authority of the City of Madera (“Housing Authority”) is a governmental entity authorized in accordance with state law to engage in the development, acquisition, leasing, and administration of low-rent housing programs. The Housing Authority is governed by a Board of Commissioners, which is comprised of members of the City Council. Management of the Housing Authority is appointed and held accountable to the Governing Board. The Housing Authority has a September 30 fiscal year end in order to align with other Housing Authorities in California. The Housing Authority’s September 30 fiscal year-end audited financial statements are included in the City’s basic financial statements as a discretely presented component unit. Complete financial statements for the Housing Authority may be obtained from the administrative offices located at 205 North G St, Madera, CA 93637.

The Housing Authority and the City have different fiscal years, which can result in timing differences in transactions between the Housing Authority and the City as noted in the basic financial statements.

B. Basis of Presentation, Accounting and Measurement Focus 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 by providing a separate set of self-balancing accounts that comprise its assets, deferred outflows of resources, liabilities, deferred inflows of resources, fund equity, revenues and expenditures or expenses, as appropriate. Fund accounting segregates funds according to their intended purpose and is used to aid management in demonstrating compliance with finance-related legal and contractual provisions. The minimum number of funds is maintained in accordance with legal and managerial requirements.

Government-Wide Financial Statements
The City’s Government-Wide Financial Statements include a Statement of Net Position and a Statement of Activities and Changes in Net Position. These statements present summaries of governmental and business-type activities for the City accompanied by a total column. Fiduciary activities of the City are not included in these statements.

These financial statements are presented on an “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all of the City’s assets and liabilities, including capital assets, as well as 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.

Under the accrual basis of accounting, revenues, expenses, gains, losses, assets, deferred outflows of resources, liabilities, and deferred inflows of resources resulting from exchange and exchange-like transactions are recognized when the exchange takes place.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
59 Note 1 – Summary of Significant Accounting Policies (Continued) B. Basis of Presentation, Accounting and Measurement Focus (Continued) Government-Wide Financial Statements (Continued)
Revenues, expenses, gains, losses, assets, deferred outflows of resources, liabilities and deferred inflows of resources resulting from non-exchange transactions are recognized in accordance with the requirements of U.S.

GAAP. Program revenues include charges for services, special assessments, and payments made by parties outside of the reporting government's citizenry if that money is restricted to a particular program. Program revenues are netted with program expenses in the statement of activities to present the net cost of each program.

Program revenues for the City are classified in three categories:
 Charges for services
 Operating grants and contributions
 Capital grants and contributions
Certain eliminations have been made in regards to interfund activities, payables and receivables. All internal balances in the Statement of Net Position have been eliminated except those representing balances between the governmental activities and the business-type activities, which are presented as internal balances and eliminated in the total primary government column. In the Statement of Activities and Changes in Net Position, internal service fund transactions have been eliminated; however, those transactions between governmental and businesstype activities have not been eliminated. The following interfund activities have been eliminated:
 Due to/from other funds
 Advances to/from other funds
 Transfers in/out
Governmental Fund Financial Statements
Governmental Fund Financial Statements include a Balance Sheet and a Statement of Revenues, Expenditures, and Changes in Fund Balances. An accompanying schedule is presented to reconcile and explain the differences in Net Position as presented in these statements to the Net Position presented in the Government-Wide Financial Statements. The City has presented all major funds that met the applicable criteria.

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 presents increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets.

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. Measurable means that the amounts can be estimated, or otherwise determined. Available means that the amounts were collected during the reporting period or soon enough thereafter to be available to finance the expenditures accrued for the reporting period. The City uses an availability period of 60 days for all revenues except grants, which use a six-month availability period.

Sales taxes, property taxes, franchise taxes, gas taxes, motor vehicle in-lieu, transient occupancy taxes, grants and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period to the extent normally collected within the availability period.

Other revenue items are considered to be measurable and available when cash is received by the government.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
60 Note 1 – Summary of Significant Accounting Policies (Continued) B. Basis of Presentation, Accounting and Measurement Focus (Continued) Governmental Fund Financial Statements (Continued)
Revenue recognition is subject to the measurable and available criteria for the governmental funds in the fund financial statements. Exchange transactions are recognized as revenues in the period in which they are earned (i.e., the related goods or services are provided). Locally imposed derived tax revenues are recognized as revenues in the period in which the underlying exchange transaction upon which they are based takes place.

Imposed non-exchange transactions are recognized as revenues in the period for which they were imposed. If the period of use is not specified, they are recognized as revenues when an enforceable legal claim to the revenues arises or when they are received, whichever occurs first. Government-mandated and voluntary non-exchange transactions have been recognized as revenues when all applicable eligibility requirements have been met.

The Reconciliation of the Fund Financial Statements to the Government-Wide Financial Statements is provided to explain the differences created by the integrated approach of GASB Statement No. 34.

The City reports the following major governmental funds:

General Fund – This is the primary operating fund of the City. It accounts for all the general revenues of the City not specifically levied or collected for by other City funds and for expenditures related to the rendering of general services by the City.

General Development Impact Fee Fund – This fund accounts for and reports the proceeds of the AB1600 development impact fee monies that are restricted or committed to expenditures for the intended purposes.

Measure “T” Sales Tax Fund – This fund is used to account for the receipt of sales tax revenue paid to the City as a subvention from the State of California. These funds support maintenance activities and finance street construction projects as provided by State law.

American Rescue Plan Act Fund – This fund used to account for the grant revenues received and expenditures incurred through the American Rescue Plan Act.

Discretely Presented Component Unit Financial Statements The activities of the Housing Authority closely resemble those of ongoing businesses in which the purpose is to conserve and add to basic resources while meeting operating expenses from current revenues. The Housing Authority which provides services on a continuous basis, has its activities are substantially financed by revenues derived from user charges and contributions from the member agencies. The Housing Authority utilizes the accrual basis of accounting. Revenues are recognized when earned and expenses are recognized as they are incurred.

Proprietary Fund Financial Statements
Proprietary Fund Financial Statements include a Statement of Net Position, a Statement of Revenues, Expenses, and Changes in Fund Net Position, and a Statement of Cash Flows for each major Proprietary Fund and an aggregate total column for all non-major Proprietary funds.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
61 Note 1 – Summary of Significant Accounting Policies (Continued) B. Basis of Presentation, Accounting and Measurement Focus (Continued) Proprietary Fund Financial Statements (Continued)
A separate column representing internal service funds is also presented in these statements. However, internal service balances and activities have been combined with the governmental activities in the Government-Wide Financial Statements. The City’s internal service funds include funds which provide services directly to other City funds. These areas of service include fleet operations, facilities maintenance, and technology.

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 Fund Net Position presents 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. In these funds, receivables have been recorded as revenue and provisions have been made for uncollectible amounts.

Operating revenues in the proprietary funds are those revenues that are generated from the primary operations of the fund. All other revenues are reported as non-operating revenues. Operating expenses are those expenses that are essential to the primary operations of the fund. All other expenses are reported as non-operating expenses.

The City reports the following major proprietary funds:

Water Fund – This fund is used to account for the provision of water services to the residential, commercial and industrial segments of the City. All activities necessary to provide such services are accounted for in this fund, including, but not limited to, administration, operations, maintenance, financing and related debt service, and billing and collection.

Sewer Fund – This fund is used to account for the provision of sewer treatment to residential, commercial and industrial segments of the City. All activities necessary to provide such services are accounted for in this fund, including, but not limited to, administration, operations, maintenance, financing and related debt service, and billing and collection.

Solid Waste Fund – This fund is used to account for City’s activities related to solid waste removal and street cleaning activities.

Drainage Operations Fund – This fund is used to account for the City’s activities related to drainage operations.

Internal service fund balances and activities have been combined with governmental activities in the Government-Wide Financial Statements, and are comprised of the following funds:

Fleet Operations Fund – This fund is used to account for the accumulation and allocation of costs associated with the maintenance of the City fleet of vehicles.

Facilities Maintenance Fund – This fund is used to account for the accumulation and allocation of costs associated with the maintenance of the City Hall building and other City buildings.

Technology Fund – This fund is used to account for the costs associated with automation maintenance of the City's various computers, servers and interdepartmental electronic communications.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
62 Note 1 – Summary of Significant Accounting Policies (Continued) B. Basis of Presentation, Accounting and Measurement Focus (Continued) Fiduciary Fund Financial Statements
Fiduciary fund financial statements include a Statement of Net Position and a Statement of Changes in Fiduciary Net Position. The City’s fiduciary funds represent custodial funds and private purpose trust funds. Fiduciary funds are accounted for using the "economic resources" measurement focus and the accrual basis of accounting.

Fiduciary fund types are accounted for according to the nature of the fund.

Fiduciary fund types are accounted for according to the nature of the fund. Custodial funds are used to report fiduciary activities that are not required to be reported in pension (and other employee benefit) trust funds, investment trust funds, or private-purpose trust funds. Private-purpose trust funds account for resources of all other trust arrangements in which principal and income benefit individuals, private organizations, or other governments (i.e. unclaimed property/escheat property). They are also used to account for various assessment districts for which the City acts as an agent for debt service activity, as the City is prohibited from levying additional taxes for these districts. Such funds include Community Facilities Districts, which do not have trust agreements with the City.

The City’s private purpose trust fund is a fiduciary fund type used by the City to report assets, liabilities and activities of the Successor Agency to the Redevelopment Agency (“Successor Agency”) for the City of Madera.

Its results of operations are presented on the Statement of Changes of Fiduciary Net Position.

Successor Agency of the Redevelopment Agency for the City of Madera The Redevelopment Obligation Retirement Fund was created to serve as a custodian for the assets and to wind down the affairs of the RDA on February 1, 2012, pursuant to Assembly Bill x1 26. Its purpose is to expeditiously wind down the affairs of the dissolved Redevelopment Agency (“RDA”). The Successor Agency is a separate public entity from the City, subject to the direction of an oversight board. The City Council serves as the governing board of the Successor Agency. In general, the Successor Agency’s assets can only be used to pay enforceable obligations in existence at the date of dissolution (including the completion of any unfinished projects that were subject to legally enforceable contractual commitments).

In future fiscal years, the Successor Agency will only be allocated revenue in the amount that is necessary to pay the estimated annual installment payments on enforceable obligations of the former RDA until all enforceable obligations of the former RDA have been paid in full and all assets have been liquidated. Based upon the nature of the Successor Agency’s custodial role, the Successor Agency has been included in the accompanying basic financial statements as a private purpose trust fund. On March 6, 2015, the California Department of Finance (Finance) approved the City’s revised Long-Range Property Management Plan (“LRPMP”), with the assets deemed for governmental use and future development.

C. Deferred Outflows and Inflows of Resources
The Statement of Net Position and Balance Sheet – Governmental Funds reports separate sections for Deferred Outflows of Resources, and Deferred Inflows of Resources, when applicable.

Deferred Outflows of Resources represent 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.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
63 Note 1 – Summary of Significant Accounting Policies (Continued) C. Deferred Outflows and Inflows of Resources (Continued) Deferred Inflows of Resources represent 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.

D. Cash, Cash Equivalents and Investments
The City pools its available cash for investment purposes. The City considers pooled cash and investment amounts, with original maturities of three months or less, to be cash equivalents.

Investments are reported in the accompanying financial statements at fair value, except for certain investment contracts that are reported at cost because they are not transferable and they have terms that are not affected by changes in market interest rates. Changes in fair value that occur during a fiscal year are recognized as investment income reported for that fiscal year, and may result in negative investment income in the accompanying financial statements. Investment income includes interest earnings, changes in fair value, and any gains or losses realized upon the liquidation, maturity, or sale of investments.

Investment income earned by the pooled investments is allocated to the various funds based on each fund's average cash and investment balance, except for investment income associated with funds not legally required to receive pooled investment income which has been assigned to and recorded as revenue of the general fund, as provided by California Government Code Section 53647.

For purposes of the statement of cash flows, amounts reported as cash and cash equivalents, include amounts on deposit in the City pool and any short-term, highly liquid investments that are both readily convertible to known amounts of cash or so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.

Certain disclosure requirements, if applicable, for deposits and investment risks in the following areas:
 Interest rate risk
 Credit risk
- Overall
- Custodial credit risk
- Concentration of credit risk
 Foreign currency risk
U.S. GAAP establishes a framework for measuring fair value, and establishes disclosures about fair value measurement. Investments, unless otherwise specified, recorded at fair value in the Statements of Net Position, are categorized based upon the level of judgment associated with the inputs used to measure their fair value.

In addition, other disclosures are specified including use of certain methods to present deposits and investments, highly sensitive investments, credit quality at year-end and other disclosures.

Levels of inputs are as follows:

Level 1 – Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date.

Level 2 – Inputs, other than quoted prices included in Level 1, which are observable for the assets or liabilities through corroboration with market data at the measurement date.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
64 Note 1 – Summary of Significant Accounting Policies (Continued) D. Cash, Cash Equivalents and Investments (Continued)
Level 3 – Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the assets or liabilities at the measurement date.

E. Restricted Assets
Amounts reported as restricted assets have been restricted by bond indentures or are to be used for specified purposes based on contract provisions, such as bonded debt service.

F. Receivables
Customer or trade receivables are reported as “accounts receivable” and are shown net of an allowance for uncollectible accounts based on historical and management estimates.

Noncurrent portions of long-term receivables (e.g., “notes receivable”) due to governmental fund types are reported in their respective balance sheets despite their spending measurement focus. Recognition of governmental fund type revenues represented by noncurrent receivables are deferred until they become current receivables. Noncurrent portions of long-term notes receivable are offset by restricted fund balance in the special revenue funds.

G. Interfund Transactions
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” or “advances to/from other funds” (i.e., the current portion of interfund loans). Any residual balances outstanding between the governmental activities and businesstype activities are reported in the Governmental-Wide Financial Statements as “internal balances.” H. Inventory
Inventories are valued at cost using the first-in/first-out (FIFO) method and consist of expendable supplies and vehicle repair parts. The cost of such inventories is recorded as expenditure/expenses when consumed rather than when purchased. Inventory reported in governmental funds is offset with nonspendable fund balance to show that inventories do not constitute available spendable resources, even though they are a component of fund balance.

I. Prepaid Items
Prepaid items are reported in the governmental funds under the consumption method and are reported as a nonspendable component of fund balance to indicate that they are not spendable for appropriation and are not expendable financial resources.

J. Leases
The City is a lessor for leases of special purpose facilities, office and commercial space, and land. The City recognizes leases receivable and deferred inflows of resources in the financial Statements.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
65 Note 1 – Summary of Significant Accounting Policies (Continued) J. Leases (Continued)
At the commencement of a lease, the City initially measures the lease receivable at the present value of payments expected to be received during the lease term. Subsequently, the lease receivable is reduced by the principal portion of lease payments received. The deferred inflows of resources are 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 inflows of resources are recognized as revenue over the life of the lease term in a systematic and rational method.

Key estimates and judgments include how the City determines (1) the discount rate it uses to discount the expected lease receipts to present value, (2) lease term, and (3) lease receipts.  The City uses its estimated incremental borrowing rate as the discount rate for leases.  The lease term includes the noncancellable period of the lease. Lease receipts included in the measurement of the lease receivable is composed of fixed payments from the lessee.

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

K. Subscription-Based Information Technology Arrangements (SBITAs) The City has a policy to recognize a SBITA liability and a right‐to‐use subscription asset (SBITA asset) in our financial statements with an initial, individual value of $50,000 or more with a subscription term greater than one year.

At the commencement of a subscription, when the subscription asset is placed into service, the SBITA liability is measured at the present value of payments expected to be made during the subscription term. Future subscription payments are discounted using the City's incremental borrowing rate and the City recognizes amortization of the discount on the subscription liability as interest expense in subsequent financial reporting periods.

SBITA assets are measured as the sum of the initial subscription liability, payments made to the SBITA vendor before the commencement of the lease term, and capitalizable implementation costs less any incentives received from the SBITA vendor at or before the commencement of the subscription term. Subscription assets are amortized using the straight-line method over the subscription term.

Key estimates and judgments related to SBITAs include how the City determines (1) the discount rate it uses to discount the expected subscription payments to present value, (2) subscription term, and (3) subscription payments.
- The City uses the interest rate charged by the SBITA vendor as the discount rate. When the interest rate charged by the SBITA vendor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for SBITAs.
- The subscription term includes the period during which the City has a noncancelable right to use the underlying IT asset. The subscription term also includes periods covered by an option to extend if it is reasonably certain to be exercised.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
66 Note 1 – Summary of Significant Accounting Policies (Continued) K. Subscription-Based Information Technology Arrangements (SBITAs) (Continued) - Subscription payments included in the measurement of the subscription liability are composed of fixed payments and purchase option years that the City is reasonably certain to exercise. The City monitors changes in circumstances that would require a remeasurement of a subscription and will remeasure any subscription asset and liability if certain changes occur that are expected to significantly affect the amount of the subscription liability.

Right-to-use subscription assets are reported along with other capital assets and subscription liabilities are reported as long-term debt on the statement of net position.

L. Land Held for Resale
Land held for resale represents land, structures, and related improvements that were acquired for resale as part of the City’s redevelopment and grant activities. Land held for resale is accounted for is recorded at lower of cost or net realizable value in accordance with U.S. GAAP. Land held for resale, which is not available for current expenditure, is reported in the governmental funds balance sheet as restricted fund balance when proceeds from the sale must be used for restricted purposes or as nonspendable fund balance when such proceeds are not restricted.

M. Capital Assets
Capital assets, which include property, plant, equipment and infrastructure assets, are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated assets are valued at the fair value of the assets on the date on which they were contributed. Donated works of art and similar items, and capital assets received in a service concession arrangement are reported at acquisition value rather than fair value.

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. The City utilizes a capitalization threshold of $5,000 - $25,000 depending on asset type.

Depreciation is charged to operations using the straight-line method over the estimated useful lives of the assets as follows:

Asset Type Years
Buildings 25-35
Improvements 5-50
Equipment 4-15
Infrastructure 10-50
Subscription assets Contract term
For all infrastructure systems, the City elected to use the Basic Approach as defined by GASB Statement No. 34 for infrastructure reporting. The City defines infrastructure as the basic physical assets that allow the City to function. The assets include the streets, water purification and distribution system, sewer collection and treatment system, parks and recreation, lands and improvement system, storm water conveyance system, and buildings combined with the site amenities such as parking and landscaped areas used by the City in the conduct of its business. Each major infrastructure system can be divided into subsystems. For example, the street system can be subdivided into pavement, curb and gutters, sidewalks, medians, streetlights, traffic control devices (signs, signals and pavement markings), landscaping and land. These subsystems were not delineated in the basic financial statements. The appropriate operating department maintains information regarding the subsystems.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
67 Note 1 – Summary of Significant Accounting Policies (Continued) N. Long-Term Debt
Government-Wide Financial Statements and Proprietary Fund Financial Statements Long-term debt and other financial obligations are reported as liabilities in the appropriate funds. Bond premiums and discounts are deferred and amortized over the life of the bonds using straight line method. Bonds payable are reported net of the applicable premium or discount. Issuance costs are expensed when incurred. Gains or losses on bond refunding are reported as either deferred outflows of resources or deferred inflows of resources and amortized over the term of the related debt.

Governmental Fund Financial Statements
The governmental fund financial statements do not present long-term debt but are shown in the Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position. Governmental fund types recognize bond premiums and discounts during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Debt issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

O. Compensated Absences
The City recognizes a liability for compensated absences for leave time that (1) has been earned for services previously rendered by employees, (2) accumulates and is allowed to be carried over to subsequent years, and (3) is more likely than not to be used as time off or settled (for example paid in cash to the employee or payment to an employee flex spending account) during or upon separation from employment. Based on the criteria listed, two types of leave qualify for liability recognition for compensated absences – vacation and sick leave. The liability for compensated absences is reported as incurred in the government-wide and proprietary fund financial statements. A liability for compensated absences is recorded in the governmental funds only if the liability has matured because of employee resignations or retirements. The liability for compensated absences includes salaryrelated benefits, where applicable.

Vacation: The City’s policy permits employees to accumulate earned but unused vacation benefits, which are eligible for payment at the employee’s current pay rate upon separation from employment.

Sick Leave: The City’s policy permits employees to accumulate earned but unused sick leave. All sick leave lapses when employees leave the employ of the City and, upon separation from service, no monetary obligation exists. However, a liability for estimated value of sick leave that will be used by employees as time off is included in the liability for compensated absences.

Government-Wide Financial Statements
For governmental and business-type activities, compensated absences are recorded as expenses when earned.

Fund Financial Statements
For governmental funds, compensated absences are recorded as expenditures in the year paid. In proprietary funds, compensated absences are expensed to the various funds in the period they are earned, and such fund’s share of the unpaid liability is recorded as a long-term liability of the fund.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
68 Note 1 – Summary of Significant Accounting Policies (Continued) P. Pension Plans
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the plans and additions to/deductions from the plans’ fiduciary net position have been determined on the same basis as they are reported by the plans (Note 12). For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with benefit terms. Investments are reported at fair value.

The General Fund and Internal Service Funds are typically used to liquidate the pension liability related to the City's governmental activities while the pension liability for Business-type activities is liquidated from the respective Enterprise Funds.

The following timeframes are used for pension reporting:

Valuation date June 30, 2023
Measurement date June 30, 2024
Measurement period July 1, 2023 to June 30, 2024
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. The amortization period differs depending on the source of the gain or loss. The difference between projected and actual earnings is amortized straight-line over 5 years. All other amounts are amortized straight-line over the average expected remaining service lives of all members that are provided with benefits (active, inactive, and retired) as of the beginning of the measurement period.

Q. Other Postemployment Benefits (OPEB)
For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the OPEB plan, the assets of which are held in an irrevocable trust, and additions to/deductions from the OPEB plan’s fiduciary net position have been determined by an independent actuary (Note 13). For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value. The General Fund and Internal Service Funds are typically used to liquidate the OPEB liability related to the City's governmental activities while the OPEB liability for Business-type activities is liquidated from the respective Enterprise Funds.

Generally accepted accounting principles require that the reported results must pertain to liability and fiduciary net position information within certain defined timeframes. For this report, the following timeframes are used:

Valuation date June 30, 2024
Measurement date June 30, 2024
Measurement period July 1, 2023 to June 30, 2024
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
69 Note 1 – Summary of Significant Accounting Policies (Continued) R. Fund Balances
As prescribed by U.S. GAAP, governmental funds report fund balance in classifications based primarily on the extent to which the City is bound to honor constraints on the specific purposes for which amounts in the funds can be spent. As of June 30, 2025, fund balances for governmental funds are made up of the following:
 Nonspendable Fund Balance – includes amounts that are: (a) not in a spendable form, or (b) legally or contractually required to be maintained intact. The “not in spendable form” criterion includes items that are not expected to be converted to cash, for example: deposits and prepaid items.  Restricted Fund Balance – includes amounts that are restricted for specific purposes stipulated by external resources providers, constitutionally or through enabling legislation. Restrictions may effectively be changed or lifted with the consent of resource providers.  Committed Fund Balance – includes amounts that have been limited to specific purposes or through adoption of a resolution or an ordinance by the City Council, the highest level of decision-making authority of the City, and resources that have been specifically committed for use in satisfying contractual obligations, as in agreements with third-parties. The City has determined that both a resolution and an ordinance are equally binding. These commitments may be changed or lifted, but only by the same formal action that was used to impose the constraint originally. City Council action to commit fund balance must occur within the fiscal reporting period while the amount committed may be subsequently determined.  Assigned Fund Balance – includes amounts that are intended to be used by the City for specific purposes.

Intent is expressed by (a) the City Council or (b) a body or official to which the City Council has delegated the authority to assign amounts to be used for a specific purpose. This policy delegates to the Finance Director the authority to assign unassigned fund balance amounts where the City’s intent is for those amounts to be used for specific purposes. This delegation of authority is for the sole purpose of reporting these amounts in the annual financial statements.  Unassigned Fund Balance – includes amounts within the General Fund, the residual resources, either positive or negative in excess of what can be properly classified in one of the other four fund balance categories. Unassigned amounts are technically available for any purpose. Other governmental funds may only report a negative unassigned balance that was created after classification of fund balance in the nonspendable, restricted or committed categories.

When expenditures are incurred for purposes where only unrestricted fund balances are available, the City uses the unrestricted resources in the following order: committed, assigned, and unassigned.

S. Net Position
The financial statements utilize a net position presentation. Net position is classified as follows:
 Net Investment in Capital Assets – This category of net position consists of capital assets, net of accumulated depreciation and amortization and reduced by any debt outstanding and any deferred outflows/inflows of resources related to such borrowings that are attributable to the acquisition, construction or improvement of those assets. If there are significant unspent related debt proceeds at yearend, the portion of the debt attributable to the unspent proceeds is not included in the calculation of net investment in capital assets. Rather, that portion of the debt is offset by unspent proceeds.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
70 Note 1 – Summary of Significant Accounting Policies (Continued) S. Net Position (Continued)
 Restricted Net Position – This category presents restricted assets reduced by liabilities and deferred inflows of resources related to those assets. Those assets are restricted due to external restrictions imposed by creditors (such as through bond covenants), grantors or laws and regulations of other governments and restrictions imposed through constitutional provisions or enabling legislation.  Unrestricted – This category represents net position of the City that is not restricted for any project or other purpose.

When both restricted and unrestricted resources are available for use, the City’s policy is to use restricted resources first, then unrestricted resources that are needed.

T. Property Taxes
Property tax revenue is recognized in the fiscal year for which the taxes have been levied providing they become available. Available means due, or past due and receivable within the current period and collected within the current period or expected to be collected soon enough thereafter (not to exceed 60 days) to be used to pay liabilities in the current period.

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 County of Madera, bills and collects the property taxes and remits them to the City at various times throughout the year. Property taxes are attached as an enforceable lien on property as of January 1. Taxes are levied on July 1 and are due in two installments. The first installment is due on November 1, and is payable through December 10 without penalty. The second installment is due February 1, and is payable through April 10 without penalty.

U. Use of Accounting Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions, in some cases when applicable, that affect the amounts in the financial statements and the accompanying notes. Actual results could differ from the estimates.

V. Implementation of New GASB Pronouncements for the Year Ended June 30, 2025 The requirements of the following accounting standards are effective for the purpose of implementation, if applicable to the City, for the year ended June 30, 2025. The financial statements included herein apply the requirements and provisions of these statements, including necessary retroactive adjustments to financial statement classifications and presentations.

GASB Statement No. 101 – In June 2023, GASB issued Statement No. 101, Compensated Absences. The objective of this Statement is to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences. That objective is achieved by aligning the recognition and measurement guidance under a unified model and by amending certain previously required disclosures. Implementation of this Statement had a moderate effect on the City’s financial statements for the fiscal year ended June 30, 2025. See Note 19.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
71 Note 1 – Summary of Significant Accounting Policies (Continued) V. Implementation of New GASB Pronouncements for the Year Ended June 30, 2025 (Continued) GASB Statement No. 102 – In December 2023, GASB issued Statement No. 102, Certain Risk Disclosures. This Statement requires a government to assess whether a concentration or constraint makes the primary government reporting unit or other reporting units that report a liability for revenue debt vulnerable to the risk of a substantial impact. Additionally, this Statement requires a government to assess whether an event or events associated with a concentration or constraint that could cause the substantial impact have occurred, have begun to occur, or are more likely than not to begin to occur within 12 months of the date the financial statements are issued.

Implementation of this Statement did not have a significant effect on the City’s financial statements for the fiscal year ended June 30, 2025.

W. Upcoming Government Accounting Standards Implementations The City is currently analyzing its accounting practices to determine the potential impact on the financial statements for the following GASB statements:

GASB Statement No. 103 – In April 2024, GASB issued Statement No. 103, Financial Reporting Model Improvements. The objective of this Statement is to improve key components of the financial reporting model to enhance its effectiveness in providing information that is essential for decision making and assessing a government’s accountability. Application of this statement is effective for the City’s fiscal year ending June 30, 2026.

GASB Statement No. 104 – In September 2024, GASB issued Statement No. 104, Disclosure of Certain Capital Assets. This Statement requires certain types of capital assets to be disclosed separately in the capital assets note disclosures required by Statement 34. Lease assets recognized in accordance with Statement No. 87, Leases, and intangible right-to-use assets recognized in accordance with Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements, should be disclosed separately by major class of underlying asset in the capital assets note disclosures. Subscription assets recognized in accordance with Statement No. 96, Subscription-Based Information Technology Arrangements, also should be separately disclosed. In addition, this Statement requires intangible assets other than those three types to be disclosed separately by major class. Application of this statement is effective for the City’s fiscal year ending June 30, 2026.

GASB Statement No. 105 – In December 2025, GASB issued Statement No. 105, Subsequent Events. This Statement establishes accounting and financial reporting requirements for events and transactions that occur after the financial statement date but before financial statements are issued. The Statement defines the types of subsequent events and requires disclosure of certain nonrecognized subsequent events. Application of this Statement is effective for the City’s fiscal year ending June 30, 2027.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
72 Note 2 – Cash and Investments – City
A. Summary
Cash and investments are presented in the accompanying financial statements for the City at June 30, 2025 as follows:

Fiduciary Funds
Governmental Business-Type Statement of
Activities Activities Total Net Position Total
Cash and investments $ 113,266,250 $ 72,996,649 $ 186,262,899 $ 9,297,345 $ 195,560,244 Restricted cash and investments 2,517,025 2,634,242 5,151,267 63,272 5,214,539 Total cash and investments $ 115,783,275 $ 75,630,891 $ 191,414,166 $ 9,360,617 $ 200,774,783 Government-Wide Statement of Net Position
Cash and investments for the City at June 30, 2025, consisted of the following:

Cash:

Cash on hand $ 7,201
Deposits with financial institution 20,267,432
Total cash 20,274,633
Investments:

Investments 175,285,611
Investments held by bond trustee 5,214,539
Total investments 180,500,150
Total cash and investments $ 200,774,783
As part of the City's investment guidelines, the City continually seeks ways to increase investment income while not risking investment principal. One way the City accomplishes this is by “sweeping”, on a nightly basis, any excess cash held in its non-interest-bearing checking account to an interest-bearing money market account with the same bank.

B. Demand Deposits
The carrying amounts of the City’s demand deposits were $20,267,431 at June 30, 2025. Bank balances were $20,558,598 at that date, the total amount of which was collateralized or insured with securities held by the pledging financial institutions in the City’s name as discussed below.

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.

The market value of pledged securities must equal at least 110% of the City's cash deposits. California law also allows institutions to secure City’s deposits by pledging first trust deed mortgage notes having a value of 150% of the City’s total cash deposits. The City may waive collateral requirements for cash deposits, which are fully insured up to $250,000 by the Federal Deposit Insurance Corporation (“FDIC”). The City, however, has not waived the collateralization requirements.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
73 Note 2 – Cash and Investments – City (Continued)
C. Investments Authorized by the California Government Code and the City’s Investment Policy The following table identifies the investment types that are authorized for the City by the California Government Code and the City's investment policy. The table also identifies certain provisions of the California Government Code (or the City's investment policy, if more restrictive) that address interest rate risk and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustees that are governed by the provisions of debt agreements of the City, rather than the general provisions of the California Government Code or the City's investment policy.

Maximum Maximum
Maximum Percentage Investment in
Authorized Investment Types Maturity of Portfolio One Issuer* Local Agency Bonds, Notes, Warrants 5 years None None
Registered State Bonds, Notes, Warrants 5 years None None U.S. Treasury Obligations 5 years None None
U.S. Agency Securities 5 years None None
Banker's Acceptances 180 days 40% 30%
Commercial Paper 270 days 25% 10%
Negotiable Certificates of Deposit 5 years 30% None
Repurchase Agreements 1 year None None
Reverse Repurchase Agreements 92 days 20% of base None
Medium-Term Corporate Notes 5 years 30% None
Mutual Funds N/A 20% 10%
Money Market Mutual Funds N/A 20% 10%
Mortgage Pass-Through Securities 5 years 20% None
County Pooled Investment Funds N/A None None
Local Agency Investment Fund N/A None None
Joint Powers Authority Pools N/A None None
* Based on state law requirements or City investment policy requirements, whichever is more restrictive.

D. Investments Authorized by Debt Agreements
Investment of debt proceeds held by fiscal agents are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the City’s investment policy. The table below identifies the investment types that are authorized for investments held by fiscal agents. The table also identifies certain provisions of these debt agreements that address interest rate risk and concentration of credit risk.

Maximum Maximum
Maximum Percentage Investment in
Authorized Investment Types Maturity Allowed One Issuer U.S. Treasury Obligations None None None
U.S. Agency Securities None None None
Banker's Acceptances 180 days None None
Commercial Paper 270 days None None
Money Market Mutual Funds N/A None None
Investment Contracts 30 years None None
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
74 Note 2 – Cash and Investments – City (Continued)
E. Fair Value Measurement
As of June 30, 2025, the City’s investments had the following recurring fair value measurements:

Investments measured by fair value level: Total Level 2 Negotiable Certificates of Deposit 7,303,036 $ 7,303,036 $ Municipal bonds 10,336,859 10,336,859
U.S. Treasury Obligations 24,407,578 24,407,578
U.S. Government Securities:

Federal Home Loan Bank 25,210,885 25,210,885
Federal Farm Credit Bank 7,974,745 7,974,745
Federal Home Loan Mortgage Corporation 17,777,154 17,777,154 Federal National Mortgage Association 10,134,320 10,134,320 Federal Agricultural Mortgage Corporation 20,143,070 20,143,070 U.S. Corporate Bonds 12,446,985 12,446,985
Total investments by fair value level 135,734,632 135,734,632 $ Investments not subject to the fair value hierarchy:

Local Agency Investment Fund 24,706,633
California Asset Management Program (CAMP) 10,233,999
Money market mutual funds 8,579,886
Certificates of deposit 1,245,000
Total investments not subject to the fair value hierarchy 44,765,518 Total investments $ 180,500,150
Debt and equity securities classified in Level 2 are valued using the following approaches:
• U.S. Treasuries, U.S. Agencies, and Commercial Paper: quoted prices for identical securities in markets that are not active;
• Medium term notes: quoted prices for similar securities in active markets; and • Asset-backed securities: recent appraisals of the asset value.

F. Risk Disclosure
Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in market interest rate 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.

Information about the sensitivity of the fair values of the City’s investments (including investments held by bond trustee) to market interest rate fluctuations is provided by the following table that shows the distribution of the City’s investments by maturity. For purposes of the schedule shown on the next page, any callable securities are assumed to be held to maturity.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
75 Note 2 – Cash and Investments – City (Continued)
F. Risk Disclosure (Continued)
Disclosures Relating to Interest Rate Risk (Continued)
Investment Type Total 1 year or less 1 - 2 Years 2 - 3 Years 3 - 4 Years 5+ Years Local Agency Investment Fund $ 24,706,633 24,706,633 $ - $ - $ - $ - $ California Asset Management Program (CAMP) 10,233,999 10,233,999 - - - - Money market mutual funds 3,365,347 3,365,347 - - - -
Municipal bonds 10,336,859 - 966,830 3,045,544 923,900 5,400,585 Certificates of deposit 1,245,000 249,000 498,000 498,000 - - Negotiable certificates of deposit 7,303,036 6,341,505 961,531 - - - U.S. Treasury Obligations 24,407,578 5,189,972 2,004,760 12,166,306 5,046,540 - U.S. Government Securities:

Federal Home Loan Bank 5,880,320 25,210,885 12,260,805 - 4,056,380 3,013,380 Federal Farm Credit Bank 3,003,680 7,974,745 1,949,100 992,270 2,029,695 - Federal Home Loan Mortgage Corporation 17,777,154 11,792,924 - 996,930 - 4,987,300 Federal National Mortgage Association 10,134,320 1,982,980 1,998,600 1,974,880 4,177,860 - Federal Agricultural Mortgage Corporation 20,143,070 3,965,340 3,022,950 4,022,240 7,098,180 2,034,360 U.S. corporate bonds 12,446,985 1,985,310 1,957,650 5,049,210 - 3,454,815 Held by bond trustee:

Money market mutual funds 5,214,539 5,214,539 - - - -
Total investments $ 83,911,549 180,500,150 $ 25,620,226 $ 28,745,380 $ 23,332,555 $ 18,890,440 $ Investment Maturities
Disclosures Relating to 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., broker-dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party.

The California Government Code and the City’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the following provision for deposits: 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 City deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits. At June 30, 2025, the City’s deposits (bank balances) were collateralized under California Law.

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. However, some issuers do not seek a credit rating. For instance, the California Local Agency Investment Fund (LAIF) has not sought or received a credit rating. In these cases, the purchaser is solely responsible for performing their own due diligence before purchasing an investment or participating in an external investment pool. Certificates of deposit of $250,000 or less are fully insured by the Federal Deposit Insurance Corporation (FDIC), and therefore, do not seek a credit rating.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
76 Note 2 – Cash and Investments – City (Continued)
F. Risk Disclosure (Continued)
Disclosures Relating to Credit Risk (Continued)
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 as of year-end for each investment type.

Minimum Ratings
Legal at Year-End
Investment Type Total Rating AA or AAA Not Rated
Local Agency Investment Fund $ 24,706,633 N/A $ 24,706,633 - $ California Asset Management Program (CAMP) 10,233,999 10,233,999 - Money market mutual funds 3,365,347 A-1 3,365,347 -
Municipal bonds 10,336,859 AA+ 10,336,859 -
Certificates of deposit 1,245,000 AA+ 1,245,000 -
Negotiable certificates of deposit 7,303,036 AA+ 7,303,036 - U.S. Treasury Obligations 24,407,578 AA+ 24,407,578 -
U.S. Government Securities:

Federal Home Loan Bank 25,210,885 AA 25,210,885 -
Federal Farm Credit Bank AA 7,974,745 7,974,745 -
Federal Home Loan Mortgage Corporation 17,777,154 AA 17,777,154 - Federal National Mortgage Association 10,134,320 AA- 10,134,320 - Federal Agricultural Mortgage Corporation 20,143,070 AA- - 20,143,070 U.S. corporate bonds 12,446,985 AA 6,061,190 6,385,795
Held by bond trustee:

Money market mutual funds 5,214,539 AA+ - 5,214,539
Total investments $ 101,902,731 180,500,150 $ 78,597,419 $ Disclosure Relating to Concentration of Credit Risk
The investment policy of the City contains no limitations on the amount that can be invested in any one issuer beyond that stipulated in the Government Code. GASB Statement No. 40 requires disclosure by amount and issuer, of investments in any one issuer that represent 5% or more of total investments. At June 30, 2025, the following investments in one issuer (other than U.S. Treasury securities, mutual funds, and external investment pools) that represents 5% or more of the City's total investments.

Reported Percentage
Issuer Amount of Portfolio
Federal Home Loan Bank 25,210,885 $ 13.97%
Federal Agricultural Mortgage Corporation 20,143,070 11.16% Federal Home Loan Mortgage Corporation 17,777,154 9.85% Federal National Mortage Association 10,134,320 5.61%
U.S. Government Securities
U.S. Government Securities
U.S. Government Securities
Investment Type
U.S. Government Securities
G. Investment in State Investment Pool
The City is a participant in LAIF which is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. As of June 30, 2025, the City had $24,706,633 invested in LAIF. LAIF determines fair value on its investment portfolio based on market quotations for those securities where market quotations are readily available and based on amortized cost or best estimate for those securities where market value is not readily available. LAIF is reported at amortized cost, which approximates fair value.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
77 Note 2 – Cash and Investments – City (Continued)
H. California Asset Management Program (CAMP)
The City is a voluntary participant in the California Asset Management Program (CAMP). CAMP is an investment pool offered by the California Asset Management Trust (the Trust). The Trust is a joint powers authority and public agency created by the Declaration of Trust and established under the provisions of the California Joint Exercise of Powers Act for the purpose of exercising the common power of its Participants to invest funds. The investments are limited to investments permitted by California Government Code. The total amount invested by all public agencies in CAMP at June 30, 2025 was $22.3 billion, respectively. A board of five trustees who are officials or employees of public agencies has oversight responsibility for CAMP. The value of the pool shares in CAMP, which may be withdrawn at any time, is determined on an amortized cost basis, which is different from the fair value of the City’s position in the pool. At June 30, 2025 the amortized cost approximates the City’s cost. As of June 30, 2025, the City had $10,233,999 invested in CAMP.

Note 3 – Cash and Investments – Component Unit
A. Summary
Cash and investments are presented in the accompanying financial statements for the Component Unit at September 30, 2024 as follows:

Component
Unit
Cash and investments 9,938,991 $
Restricted cash and investments 1,390,094
Total cash and investments $ 11,329,085
Cash and investments for the Component Unit at September 30, 2024, consisted of the following:

Cash:

Cash on hand $ 100
Deposits with financial institution 470,616
Total cash 470,716
Investments:

Investments 10,858,369
Total investments 10,858,369
Total cash and investments $ 11,329,085
B. Demand Deposits
The carrying amounts of the Component Unit’s demand deposits were $470,616 at September 30, 2024. Bank balances were $470,616 at that date, the total amount of which was collateralized or insured with securities held by the pledging financial institutions in the Component Unit’s name as discussed below.

The California Government Code requires California banks and savings and loan associations to secure the Component Unit’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 Component Unit's name.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
78 Note 3 – Cash and Investments – Component Unit (Continued) B. Demand Deposits (Continued)
The market value of pledged securities must equal at least 110% of the Component Unit's cash deposits.

California law also allows institutions to secure Component Unit’s deposits by pledging first trust deed mortgage notes having a value of 150% of the Component Unit’s total cash deposits. The Component Unit may waive collateral requirements for cash deposits, which are fully insured up to $250,000 by the Federal Deposit Insurance Corporation (“FDIC”). The Component Unit, however, has not waived the collateralization requirements.

C. Investments Authorized by the California Government Code and the Housing Authority’s Investment Policy
The Housing Authority’s investment policy only authorizes investment in the Local Agency Investment Fund (LAIF) administered by the State of California. The Housing Authority’s investment policy does not contain any specific provisions intended to limit its exposure to interest rate risk, credit risk, and concentration of credit risk.

D. Risk Disclosure
Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in market interest rate 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 Component Unit 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.

Information about the sensitivity of the fair values of the Component Unit’s investments (including investments held by bond trustee) to market interest rate fluctuations is provided by the following table that shows the distribution of the Component Unit’s investments by maturity. For purposes of the schedule shown on the next page, any callable securities are assumed to be held to maturity.

Investment
Maturities
Investment Type Total 1 year or less
Local Agency Investment Fund 10,858,369 $ 10,858,369 $
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. However, some issuers do not seek a credit rating. For instance, the California Local Agency Investment Fund (LAIF) has not sought or received a credit rating. In these cases, the purchaser is solely responsible for performing their own due diligence before purchasing an investment or participating in an external investment pool. Certificates of deposit of $250,000 or less are fully insured by the Federal Deposit Insurance Corporation (FDIC), and therefore, do not seek a credit rating.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
79 Note 3 – Cash and Investments – Component Unit (Continued) D. Risk Disclosure (Continued)
Presented below is the minimum rating required by (where applicable) the California Government Code, the Component Unit’s investment policy, or debt agreements, and the actual rating as of year-end for each investment type.

Minimum
Legal
Investment Type Total Rating Not Rated
Local Agency Investment Fund $ 10,858,369 N/A $ 10,858,369 Disclosure Relating to Concentration of Credit Risk
The investment policy of the Component Unit contains no limitations on the amount that can be invested in any one issuer beyond that stipulated in the Government Code. GASB Statement No. 40 requires disclosure by amount and issuer, of investments in any one issuer that represent 5% or more of total investments. At September 30, 2024, the had no investments in one issuer (other than U.S. Treasury securities, mutual funds, and external investment pools) that represents 5% or more of the Component Unit's total investments.

Disclosures Relating to 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., broker-dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party.

The California Government Code and the Component Unit’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the following provision for deposits: 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 Component Unit deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits. At September 30, 2024, the Component Unit’s deposits (bank balances) were collateralized under California Law.

E. Investment in State Investment Pool
The Component Unit is a participant in LAIF which is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. As of September 30, 2024, the Component Unit had $10,858,369 invested in LAIF. LAIF determines fair value on its investment portfolio based on market quotations for those securities where market quotations are readily available and based on amortized cost or best estimate for those securities where market value is not readily available. LAIF is reported at amortized cost, which approximates fair value.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
80 Note 4 – Notes Receivables
A. Governmental Activities
At June 30, 2025, notes receivable for government activities consisted of the following:

Allowance for Financial
Notes Receivable Doubtful Accounts Statement
Balance Balance Balance
City:

Residential Rehab Special Revenue Fund:

Madera Pacific Associates Loan $ 2,962,234 $ - $ 2,962,234 100 Stadium Rd., LP Loan 5,034,343 - 5,034,343
Forgivable Loans 12,527,047 (12,527,047) -
Total Residential Rehab Special Revenue Fund (12,527,047) 20,523,624 7,996,577 Low and Moderate Income Housing Fund 7,000 - 7,000
Total City $ (12,527,047) 20,530,624 $ 8,003,577 $
Residential Rehab Special Revenue Fund
The City was awarded a $3 million-dollar federal grant from the HOME Investment Program (HOME) administered through the State of California. The proceeds of this grant were used to provide a $3 million loan to Madera Pacific Associates (MPA) for multi-family rental housing projects serving low and very low-income individuals through subordinate loans with terms up to 55 years. MPA is required to repay the loan through the net cash flow payments it receives from project operations. The loan balance at June 30, 2025 is $2,962,234, which is recorded as a note receivable in the Residential Rehab special revenue fund.

The City was awarded a $5 million-dollar federal grant from the HOME Investment Program (HOME) administered through the State of California. The proceeds of this grant were used to provide a $5 million loan to 100 Stadium Rd., L.P. for multi-family rental housing projects serving low and very low-income individuals through subordinate loans with terms up to 55 years. 100 Stadium Rd., L.P. is required to repay the loan through the net cash flow payments it receives from project operations. The loan balance at June 30, 2025 is $5,034,343, which is recorded as a note receivable in the Residential Rehab special revenue fund.

Forgivable Loans
The City administers the first time homebuyer, housing rehabilitation, and small business loan programs funded with various grants (i.e. CDBG, HOME, CalHome, NSP, etc.). Under these programs, individuals with incomes below certain levels are eligible to receive low interest loans. These loans are secured by deeds of trust on the properties. Deferred payment loans receivable under these forgivable loans are not required to be paid back unless the participating homeowner sells, transfers title to the property, or discontinues residence in the dwelling at which time the full amount of the deferred loan is due. These deferred payment loans are “nonperforming loans” and are not recorded as loans receivable in the financial statements.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
81 Note 4 – Notes Receivables (Continued)
A. Governmental Activities (Continued)
Forgivable Loans (Continued)
Loans and related items as of June 30, 2025 are summarized as follows:

Outstanding
Loan Balance
Loan Type June 30, 2025 Due
First-time homebuyer $ 30 years 5,204,590
Housing rehabilitation 1,482,295 30 years
Small business 5,840,162 10 years
Total $ 12,527,047
Low and Moderate Income Housing Asset Special Revenue Fund The Low and Moderate Income Housing Asset special revenue fund reports $7,000 of notes receivable. These were loans funded from the former Redevelopment Agency to developers for construction of affordable housing or rehabilitation within the boundaries of the Redevelopment Project Area. These low interest-bearing loans are secured by deeds of trust. Maturities vary according to terms and disposition of property.

B. Component Unit
At September 30, 2024, notes receivable for the component unit consisted of the following:

Allowance for Financial
Notes Receivable Doubtful Accounts Statement
Balance Balance Balance
Component Unit:

Housing Authority for the City of Madera:

MORES Yosemite Manor, LP Loan 2,506,201 $ - $ 2,506,201 $ MORES Corporation Loans 332,883 - 332,883
Total Component Unit $ - 2,839,084 $ 2,839,084 $
The Housing Authority has a note receivable of $2,506,201, due from MORES Yosemite Manor, L.P., secured by first deed on land and building subject to note. Interest bearing on the outstanding principal balance at the rate of

4.21%, compounded annually. The term of the note commenced May 14, 2008 and expires on December 31, 2063. The note is due and payable from residual receipts per the loan agreement. As of September 30, 2024, the outstanding interest receivable amounted to $2,120,228.

The Housing Authority has promissory notes issued between March 2010 and May 2014 that amounted to $440,872, due from Madera Opportunities for Resident Enrichment Services, Inc. (MORES), a California nonprofit corporation. The promissory notes are subject to various interest rates, payment start dates, and due dates.

The note is secured by first and second deeds of trusts on buildings subject to the notes. The notes are due and payable from rental receipts per the loan agreements.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
82 Note 5 – Lease Receivable
A. Governmental Activities
Certain portions of the City’s property is leased to others. Such property includes special purpose facilities, office and commercial space, and land. Lease receivable consists of agreements with other for the right-to-use of the underlying assets at various locations owned by the City. The terms of the arrangements range from 2 to 99 years.

The calculated interest rates used vary depending on the length of the lease. For the fiscal year ended June 30, 2025, the City recognized $31,006 in lease revenue and $8,516 in interest revenue. At June 30, 2025, the City reported a deferred inflow of resources related to leases of $385,716.

A summary of changes in lease receivable for the fiscal year ended June 30, 2025 is as follows:

Balance Balance Due within Due in More
July 1, 2024 Additions Deletions June 30, 2025 One Year Than One Year Leases receivable $ 440,490 $ (20,187) - $ $ 420,303 $ 14,572 $ 405,731 Classification
As of June 30, 2025, the required payments for these leases, including interest, are:

Year Ending
June 30, Principal Interest Total
2026 14,572 $ 7,926 $ 22,498 $
2027 15,421 7,640 23,061
2028 16,301 7,336 23,637
2029 17,212 7,016 24,228
2030 18,155 6,678 24,833
2031-2035 106,142 27,655 133,797
2036-2040 135,221 16,158 151,379
2041-2042 97,279 2,937 100,216
Total $ 420,303 $ 83,346 $ 503,649
B. Business-Type Activities
Certain portions of the City’s property is leased to others. Such property includes special purpose facilities, office and commercial space, and land. Lease receivable consists of agreements with other for the right-to-use of the underlying assets at various locations owned by the City. The terms of the arrangements range from 2 to 99 years.

The calculated interest rates used vary depending on the length of the lease. For the fiscal year ended June 30, 2025, the City recognized $43,419 in lease revenue and $16,238 in interest revenue. At June 30, 2025, the City reported a deferred inflow of resources related to leases of $1,001,552.

A summary of changes in lease receivable for the fiscal year ended June 30, 2025 is as follows:

Balance Balance Due within Due in More
July 1, 2024 Additions Deletions June 30, 2025 One Year Than One Year Leases receivable $ 1,080,769 $ 55,179 $ (106,048) $ 1,029,900 $ 106,975 $ 922,925 Classification
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
83 Note 5 – Lease Receivable (Continued)
B. Business-Type Activities (Continued)
As of June 30, 2025, the required payments for these leases, including interest, are:

Year Ending
June 30, Principal Interest Total
2026 106,975 $ 16,118 $ 123,093 $
2027 107,917 15,176 123,093
2028 108,872 14,221 123,093
2029 44,765 13,328 58,093
2030 45,579 12,514 58,093
2031-2035 216,686 50,415 267,101
2036-2040 151,425 32,628 184,053
2041-2045 156,541 17,508 174,049
2046-2050 91,140 3,701 94,841
Total $ 1,029,900 $ 175,609 $ 1,205,509
Note 6 – Interfund Receivables, Payables, and Transfers A. Due To / From Other Funds
Amounts due to and due from other funds at June 30, 2025, were as follows:

Receivable Fund Payable Fund Amount Purpose
General Fund Federal Aid Urban Special Revenue Fund $ 88,454 Overdrawn Cash General Fund Street Construction Special Revenue Fund 525,441 Overdrawn Cash General Fund Solar Energy Lease Capital Projects Fund Overdrawn Cash 1,999,040 General Fund Local Transit Enterprise Fund 1,005,480 Overdrawn Cash General Fund Golf Course Enterprise Fund 505,124 Overdrawn Cash Total $ 4,123,539
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
84 Note 6 – Interfund Receivables, Payables, and Transfers (Continued) B. Transfers
Interfund transfers during the year ended June 30, 2025, consisted of the following:

Transfers In Transfers Out Amount Purpose
General Fund Community Facilities District Special Revenue Fund $ Administrative cost 316,440 General Fund Measure "T" Sales Tax Special Revenue Fund Capital projects 860,000 General Fund Solid Waste Disposal Enterprise Fund 572,903 Capital projects General Fund Special Gas Tax Special Revenue Fund 1,808,414 Capital projects General Fund Street Construction Special Revenue Fund Capital projects 598,800 General Fund Supplemental Law Enforcement Special Revenue Fund Cost recovery 300,000 General Fund Water Enterprise Fund 60,000 Cost recovery General Fund Drainage Operations Enterprise Fund Engineering costs 45,000 General Fund General Development Impact Fee Special Revenue Fund Engineering costs 143,771 Subtotal 4,705,328
Solar Energy Lease Capital Projects Fund Airport Enterprise Fund 73,549 Debt service Solar Energy Lease Capital Projects Fund Drainage Operations Enterprise Fund Debt servic 39,646 e Solar Energy Lease Capital Projects Fund Solid Waste Disposal Enterprise Fund 2,851 Debt service Solar Energy Lease Capital Projects Fund Landscape Assessment Districts Special Revenue Fund 3,662 Debt service Solar Energy Lease Capital Projects Fund General Fund 429,048 Debt service Solar Energy Lease Capital Projects Fund Local Transit Enterprise Fund Debt servic 22,952 e Solar Energy Lease Capital Projects Fund Facilities Maintenance Internal Service Fund Debt servic 499,014 e Solar Energy Lease Capital Projects Fund Parking District Operations Special Revenue Fund 4,857 Debt service Solar Energy Lease Capital Projects Fund Sewer Enterprise Fund 558,444 Debt service Solar Energy Lease Capital Projects Fund Water Enterprise Fund 1,027,047 Debt service Subtotal 2,661,070
Sewer Enterprise Fund General Fund Capital projects 145,296 Sewer Enterprise Fund American Rescue Plan Act Special Revenue Fund Capital projects 9,142,484 Sewer Enterprise Fund General Development Impact Fee Special Revenue Fund Debt servic 250,000 e Subtotal 9,537,780
Drainage Operations Enterprise Fund General Fund Engineering/Admin costs 35,002 Drainage Operations Enterprise Fund General Development Impact Fee Special Revenue Fund Capital projects 40,000 Subtotal 75,002
Supplemental Law Enforcement Special Revenue Fund General Fund Capital projects 363,744 Supplemental Law Enforcement Special Revenue Fund Opioid Settlement Fund Special Revenue Fund 70,000 Capital projects Subtotal 433,744
Fleet Maintenance Internal Service Fund General Fund Cost recovery 421,681 Fleet Maintenance Internal Service Fund Local Transit Enterprise Fund Cost recovery 57,000 Subtotal 478,681
Local Transit Enterprise Fund Intermodal Building Special Revenue Fund Consolidate funds 52,758 American Rescue Plan Act Special Revenue Fund Water Enterprise Fund Capital projects 95,649 Solid Waste Disposal Enterprise Fund General Fund Capital projects 37,974 Airport Enterprise Fund General Fund Capital projects 13,281 Residential Rehab Special Revenue Fund General Fund Capital projects 131,107 Water Enterprise Fund General Fund Capital projects 139,009 Landscape Assessment Districts Special Revenue Fund General Fund Cost recovery 158,459 Facilities Maintenance Internal Service Fund General Fund Cost recovery 85,006 Technology Internal Service Fund General Fund Cost recovery 18,716 Total $ 18,623,564
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
85 Note 7 – Capital Assets
A. Governmental Activities
The summary of changes in governmental activities capital assets for the year ended June 30, 2025, is as follows:

Balance Balance
July 1, 2024 Additions Deletions Transfers June 30, 2025 Capital assets, not being depreciated
Land $ 12,669,536 $ 12,904 $ - $ 12,682,440 - $
Construction in progress 26,353,074 4,753,764 (1,025,950) - 30,080,888 Total capital assets, not being depreciated 4,766,668 39,022,610 - (1,025,950) 42,763,328 Capital assets, being depreciated/amortized
Building and improvements 33,607,375 - - 265,942 33,873,317 Infrastructure 313,986,080 4,221,563 - 318,207,643 -
Equipment 20,278,276 1,836,691 (1,074,574) 760,008 21,800,401 Subscription assets 312,821 - - - 312,821
Total capital assets, being depreciated/amortized 368,184,552 6,058,254 (1,074,574) 1,025,950 374,194,182 Accumulated depreciation/amortization:

Building and improvements (11,649,747) (724,660) - (12,374,407) - Infrastructure (193,616,114) (5,512,907) - (199,129,021) - Equipment (11,074,264) (1,139,718) 1,071,970 (11,142,012) - Subscription assets (138,293) (101,224) - (239,517) -
Total accumulated depreciation/amortization (216,478,418) (7,478,509) 1,071,970 (222,884,957) - Total capital assets, being depreciated/amortized, net 151,706,134 (1,420,255) (2,604) 1,025,950 151,309,225 Total capital assets, net $ 190,728,744 $ 3,346,413 $ (2,604) $ 194,072,553 - $ Depreciation and amortization expense were charged to the functions/programs of the governmental activities as follows:

General government $ 4,176,554
Public protection 502,584
Social services 13,785
Public ways and facilities 1,262,868
Culture and recreation 670,264
Internal service funds 852,454
Total depreciation/amortization expense $ 7,478,509
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
86 Note 7 – Capital Assets (Continued)
B. Business-Type Activities
The summary of changes in business-type activities capital assets for the year ended June 30, 2025, is as follows:

Balance Balance
July 1, 2024 Additions Deletions Transfers June 30, 2025 Capital assets, not being depreciated
Land 9,951,015 $ 2,290 $ - $ - $ 9,953,305 $
Construction in progress 9,067,227 18,902,078 - (3,319,378) 24,649,927 Total capital assets, not being depreciated 19,018,242 18,904,368 - (3,319,378) 34,603,232 Capital assets, being depreciated
Building and improvements 65,696,076 65,802 - 3,319,378 69,081,256 Infrastructure 103,708,843 2,986,009 (34,600) - 106,660,252 Equipment 9,915,576 201,498 (231,233) - 9,885,841
Total capital assets, being depreciated 3,253,309 179,320,495 (265,833) 3,319,378 185,627,349 Accumulated depreciation:

Building and improvements (43,335,533) (2,330,328) - - (45,665,861) Infrastructure (48,151,701) (2,028,966) 34,600 - (50,146,067) Equipment (3,059,828) (373,581) 231,233 - (3,202,176)
Total accumulated depreciation (94,547,062) (4,732,875) 265,833 - (99,014,104) Total capital assets, being depreciated, net 84,773,433 (1,479,566) - 3,319,378 86,613,245 Total capital assets, net $ 17,424,802 103,791,675 $ - $ - $ 121,216,477 $ Depreciation expense was charged to the functions/programs of the business-type activities as follows:

Water $ 960,922
Sewer 2,431,652
Drainage operations 360,369
Local transit 514,351
Golf 167,906
Airport 297,675
Total depreciation expense $ 4,732,875
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
87 Note 7 – Capital Assets (Continued)
C. Fiduciary Fund Financial Statements
The summary of changes in capital assets for fiduciary funds for the year ended June 30, 2025, is as follows:

Balance Balance
July 1, 2024 Additions Deletions June 30, 2025
Capital assets, not being depreciated
Land $ - 16,701 $ - $ 16,701 $
Total capital assets, not being depreciated - 16,701 - 16,701 Capital assets, being depreciated
Building and improvements 2,359,125 - 2,359,125 -
Total capital assets, being depreciated - 2,359,125 - 2,359,125 Accumulated depreciation:

Building and improvements (900,115) (34,738) (934,853) - Total accumulated depreciation (900,115) (34,738) (934,853) - Total capital assets, being depreciated, net 1,459,010 (34,738) 1,424,272 - Total capital assets, net $ 1,475,711 $ (34,738) $ 1,440,973 - $ Depreciation expense for fiduciary fund financial statements for the year ended June 30, 2025 was $34,738.

D. Component Unit
The summary of changes in capital assets for the component unit for the twelve month period ended September 30, 2024, is as follows:

Balance Balance
October 1, 2023 Additions Deletions September 30, 2024
Capital assets, not being depreciated
Land $ 675,827 $ - $ - $ 675,827
Total capital assets, not being depreciated 675,827 - - 675,827 Capital assets, being depreciated
Building and improvements 31,003,740 - - 31,003,740
Equipment 946,906 11,950 - 958,856
Total capital assets, being depreciated 31,950,646 11,950 - 31,962,596 Less: accumulated depreciation (27,263,774) (710,776) (27,974,550) - Total capital assets, being depreciated, net 4,686,872 (698,826) - 3,988,046 Total capital assets, net $ 5,362,699 $ (698,826) $ - $ 4,663,873 Depreciation expense for the component unit for the twelve month period ended September 30, 2024 was $710,776.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
88 Note 8 – Long-Term Liabilities
A. Governmental Activities
A summary of changes in the long-term liabilities of the governmental activities for the year ended June 30, 2025, is as follows:

Balance Debt Debt Balance Due within Due in More
July 1, 2024 Issued Retired June 30, 2025 One Year Than One Year Governmental Activities:

Direct borrowings:

Subscription liability $ 109,174 $ (102,831) - $ $ 6,343 $ 6,343 $ - Finance purchase agreement 17,001,000 (856,000) - 16,145,000 880,000 15,265,000 Loans payable 182,400 (120,800) - 61,600 61,600 -
Public borrowings:

Lease revenue bonds:

Series 2019, New Fire Station 3,320,000 (155,000) - 3,165,000 165,000 3,000,000 plus: bond premium - 486,120 (32,408) 453,712 - 453,712 Total lease revenue bonds 3,806,120 - (187,408) 3,618,712 165,000 3,453,712 Total $ 21,098,694 $ (1,267,039) - $ $ 19,831,655 $ 1,112,943 $ 18,718,712 Classification
2019 Solar Energy Finance Purchase (Direct Borrowing)
On December 30, 2019, the City entered into an equipment finance purchase agreement in a direct placement transaction with Bank of America for an energy improvement and upgrade project (2019 Solar Equipment Finance Purchase) in the amount of $19,432,000. The energy project improvements include HVAC upgrade, LED lighting, solar streetlights, EV charging stations and PV solar.

The finance purchase transaction closed on December 30, 2019. The interest was capitalized for the first two years, with interest only payments beginning June 1, 2020 through June 1, 2021 and principal and interest due in semi-annual payments, payable June 1st and December 1st thereafter through December 1st, 2039, with an interest rate of 2.77%. At June 30, 2025, the outstanding balance was $16,145,000.

The annual debt service requirements at June 30, 2025 are as follows:

Year Ending
June 30, Principal Interest Total
2026 880,000 $ 435,029 $ 1,315,029 $
2027 905,000 410,306 1,315,306
2028 930,000 384,891 1,314,891
2029 957,000 358,756 1,315,756
2030 983,000 331,887 1,314,887
2031-2035 5,349,000 1,229,175 6,578,175
2036-2040 6,141,000 434,681 6,575,681
Total $ 3,584,725 16,145,000 $ 19,729,725 $
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
89 Note 8 – Long-Term Liabilities (Continued)
A. Governmental Activities (Continued)
2019 Solar Energy Lease Purchase (Direct Borrowing) (Continued) The City entered into finance purchase agreement whereby the City acquired certain capital assets and financed them to the City with the option to purchase. Unspent finance purchase proceeds are included in restricted cash and investments. The leased assets are included in capital assets and are summarized by major asset class below:

Unspent finance purchase proceeds $ 654,538
Construction in progress 18,220,272
Total $ 18,874,810
2019 Refunding of the Police Facility (Police Facility Commercial Loan) (Private Borrowing) In December 2005, the City entered into an agreement with La Salle Bank (and subsequently sold to Capital One Public Funding, LLC) to finance a portion of the construction cost for the police facility. The entire purchase price of the police station was $5,200,000. The financed portion of the police station was $1,500,000 and was payable over a period of twenty years.

On January 1, 2018, the agreements was refunded and the Financing Authority paid the City an advance rental for the use and right to the possession of the Police and Golf Course facilities for a total of $2,553,000. The lease was then assigned to Zions Bank/California Bank & Trust on the same day and named the Police Facility Commercial Loan. The bonds are due in annual installments of $50,900 to $61,600 beginning May 2018 with interest rate fixed 2.760% per annum payable semi-annually through December 25th, 2027. Total principal and interest remaining on the agreement is payable through 2026. At June 30, 2025, the outstanding balance was $61,600.

The annual debt service requirements at June 30, 2025 are as follows:

Year Ending
June 30, Principal Interest Total
2026 61,600 $ 850 $ 62,450 $
Total $ 850 61,600 $ 62,450 $
2019 Lease Revenue Bonds (Fire Station) (Public Offering) The Madera Public Financing Authority issued the Lease Revenue Bonds 2019 on June 1, 2019 for $4,005.000.

The proceeds of the bonds will be used to finance the construction of a fire station. The City entered into a Facilities Lease Agreement with the Madera Public Financing Authority to make rental payments. The Bonds are due in annual installments of $230,000 to $307,000 through February 1, 2039 with interest payable semiannually on February 1 and August 1 of each year with interest rate from 3.00% to 5.00%. At June 30, 2025 the outstanding balance was $3,165,000.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
90 Note 8 – Long-Term Liabilities (Continued)
A. Governmental Activities (Continued)
The annual debt service requirements at June 30, 2025 are as follows:

Year Ending
June 30, Principal Interest Total
2026 165,000 $ 140,100 $ 305,100 $
2027 175,000 131,850 306,850
2028 180,000 123,100 303,100
2029 190,000 114,100 304,100
2030 200,000 104,600 304,600
2031-2035 1,150,000 372,000 1,522,000
2035-2039 1,105,000 112,800 1,217,800
Total $ 1,098,550 3,165,000 $ 4,263,550 $
Subscription Liability
The City has entered into subscription-based information technology arrangements (SBITAs) for services related to cloud-based software applications, data storage and management services. Under the terms of these arrangements, the City does not take possession of the software at any time and the vendor provides ongoing services for the software's operation. The subscription periods vary, with initial non-cancellable terms ranging from 2 to 4 years. The calculated interest rate used was 2.40%.

As of June 30, 2025, the capitalized right-to-use assets related to SBITAs were $312,821 and the total subscription liability was $61,600, of which $61,600 is reported as a current liability representing the amount due within the next fiscal year.

Principal and interest payments to maturity are as follows:

Year Ending
June 30, Principal Interest Total
2026 $ 6,343 $ 141 $ 6,484
Total $ 6,343 $ 141 $ 6,484
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
91 Note 8 – Long-Term Liabilities (Continued)
B. Business-Type Activities
A summary of changes in the long-term liabilities of the business-type activities for the year ended June 30, 2025, is as follows:

Balance Debt Debt Balance Due within Due in More
July 1, 2024 Issued Retired June 30, 2025 One Year Than One Year Business-Type Activities:

Direct borrowings:

Loans payable:

BBVA loan $ 5,334,000 $ (395,000) - $ $ 4,939,000 $ 404,000 $ 4,535,000 Total loans payable - 5,334,000 (395,000) 4,939,000 404,000 4,535,000 Public borrowings:

Bonds payable:

Water and Wastewater Refunding Revenue
Bonds, Series 2015 20,595,000 - (1,395,000) 19,200,000 1,450,000 17,750,000 2019 Water Revenue Refunding Bonds 6,932,228 - (457,908) 6,474,320 467,850 6,006,470 Total bonds payable 27,527,228 - (1,852,908) 25,674,320 1,917,850 23,756,470 Total $ 32,861,228 $ (2,247,908) - $ $ 30,613,320 $ 2,321,850 $ 28,291,470 Classification
BBVA Compass Loan (Taxable) (Refinance CIEDB Loan)
In January 2021, the City refinanced the CIEDB Loan for the purpose of saving on annual debt service costs. The loan, in the amount of $6,472,000, is for 15 years with an effective interest rate of 2.41%. The loan is a taxable loan. Annual installment payments range from $502,989 to $522,626 through 2036. The average fiscal year savings is $24,655, with a total savings of $369,829. At June 30, 2025, the outstanding balance of the BBVA Compass Loan was $4,939,000.

The annual debt service requirements at June 30, 2025 are as follows:

Year Ending
June 30, Principal Interest Total
2026 404,000 $ 114,162 $ 518,162 $
2027 412,000 104,329 516,329
2028 421,000 94,291 515,291
2029 430,000 84,037 514,037
2030 439,000 73,565 512,565
2031-2035 2,336,000 202,994 2,538,994
2036 497,000 5,989 502,989
Total $ 679,367 4,939,000 $ 5,618,367 $
Water and Wastewater Refunding Revenue Bonds, Series 2015 (Public Offering) Water and Wastewater Refunding Revenue Bonds, Series 2015 were issued by the Financing Authority in December 2015 for $30,140,000. Proceeds from the bonds were used to refund $30,440,000 of its Water and Wastewater Refunding Revenue Bonds, Series 2016. The bonds are due in annual installments of $70,000 to $2,080,000 through March 1, 2036, with interest payable semiannually on September 1 and March 1 of each year at 3.700%. At June 30, 2025, the outstanding balance of the Water and Wastewater Revenue Bonds was $19,200,000.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
92 Note 8 – Long-Term Liabilities (Continued)
B. Business-Type Activities (Continued)
Water and Wastewater Refunding Revenue Bonds, Series 2015 (Public Offering) (Continued) The Financing Authority has pledged a portion of future water and wastewater revenue to repay the 2015 Water and Wastewater Revenue Bonds. For the year ended June 30, 2025, total principal and interest paid was $2,157,015, and net revenues were $23,068,651. Total principal and interest remaining on the agreement is $23,718,810 payable through 2036.

The annual debt service requirements at June 30, 2025 are as follows:

Year Ending
June 30, Principal Interest Total
2026 1,450,000 $ 710,400 $ 2,160,400 $
2027 1,505,000 656,750 2,161,750
2028 1,555,000 601,065 2,156,065
2029 1,605,000 543,530 2,148,530
2030 1,670,000 484,145 2,154,145
2031-2035 9,335,000 1,445,960 10,780,960
2036 2,080,000 76,960 2,156,960
Total $ 4,518,810 19,200,000 $ 23,718,810 $
Water Refunding Revenue Bonds, Series 2019 (Public Offering) Water Refunding Bonds, Series 2019 were issued by the Financing Authority in December 2019 for $9,016,903.

The City used the proceeds to refund the outstanding principal of the Water Revenue Bonds, Series 2010 in the amount of $9,530,000. The bonds are due semi-annual installments of $204,890 to $312,774 with interest rate fixed at 2.64% per annum payable semi-annually through 2037. At June 30, 2024, the outstanding principal and interest balance was $8,233,333. The aggregate debt service payments of the new debt are $2,587,313 less than the old debt. The issuance of the new debt and refunding of the old debt resulted in an economic gain (the difference between the net present value of the old debt and new debt service payments) of approximately $2,053,508. At June 30, 2025, the outstanding balance of the Water Refunding Revenue Bonds was $6,474,320.

The Financing Authority has pledged a portion of future water and wastewater revenue to repay the 2019 Water Revenue Bonds. For the year ended June 30, 2025, total principal and interest paid was $637,896, and net revenues were $10,277,784. Total principal and interest remaining on the agreement is $7,595,437 payable through 2037.

The annual debt service requirements at June 30, 2025 are as follows:

Year Ending
June 30, Principal Interest Total
2026 $ 467,850 $ 167,834 $ 635,684
2027 480,334 155,400 635,734
2028 487,160 142,675 629,835
2029 503,516 129,705 633,221
2030 519,112 116,310 635,422
2031-2035 2,787,819 368,351 3,156,170
2036-2037 1,228,529 40,842 1,269,371
Total $ 6,474,320 $ 1,121,117 $ 7,595,437
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
93 Note 8 – Long-Term Liabilities (Continued)
C. Fiduciary Fund Financial Statements
A summary of changes in the long-term liabilities of the fiduciary fund financial statements for the year ended June 30, 2025, is as follows:

Balance Debt Debt Balance Due within Due in More
July 1, 2024 Issued Retired June 30, 2025 One Year Than One Year Fiduciary Activities:

Public borrowings:

Tax allocation bonds:

Series 2018A $ 27,700,000 $ (1,045,000) - $ $ 26,655,000 $ 1,230,000 $ 25,425,000 Series 2018B 925,000 (525,000) - 400,000 400,000 -
Add: unamortized bond premiums 3,205,975 (228,998) - 2,976,977 2,976,977 - Total tax allocation bonds 31,830,975 (1,798,998) - 30,031,977 1,630,000 28,401,977 Total $ 31,830,975 $ (1,798,998) - $ $ 30,031,977 $ 1,630,000 $ 28,401,977 Classification
Tax Allocation Refunding Bonds, Series 2018A and 2018B (Public Offering) On July 17, 2018, the Successor Agency to the Former Madera Redevelopment Agency issued $31,445,000 of Tax Allocation Refunding Bonds, Series 2018A and $4,065,000 of Tax Allocation Refunding Bonds, Series 2018B (collectively the “2018 TARBs”) to (a) refund four outstanding series of bonds payable (the 1998 Tax Allocation Redevelopment Project Bonds, the 2003 Tax Allocation Refunding and Redevelopment Project Bonds, the Madera Redevelopment Agency Subordinate Tax Allocation Bonds, Series 2008A, and the Madera Redevelopment Agency Housing Set-Aside Subordinate Tax Allocation Bonds, Series 2008B) from tax increment revenue generated in the Madera Redevelopment Project Area (the “Project Area”), (b) fund a reserve account, and (c) pay the costs of issuance of the bonds. The 2018 TARBs are payable from and secured by a pledge of tax revenues to be derived from the Project Area. At June 30, 2025, the outstanding balance of the Series A Bonds was $26,655,000 and the Series 2018B was $400,000.

The 2018 TARBs consist of serial bonds maturing from 2019 through 2038 in annual installments of $390,000 to $2,405,000. Interest is due and payable semi-annually on March 1 and September 1 of each year at rates ranging from 3.0% to 5.0% commencing March 1, 2019. Annual principal on the bonds is due on September 1 of each year through 2038. The bonds are subject to federal arbitrage requirements. The aggregate debt service payments of the new debt are $11,314,301 less than the old debt. The issuance of the new debt and refunding of the old debt resulted in an economic gain (the difference between the net present value of the old debt and new debt service payments) of approximately $8,659,587.

A reserve account is required to be maintained in the amount of the lesser of (i) 10% of the original aggregate principal amount of the 2018 TARBs, or (ii) 125% of the average annual debt service with respect to the 2018 TARBs, or (iii) the maximum annual debt service with respect to the 2018 TARBs. As of June 30, 2025, the reserve requirement was met through the City’s purchase of a surety policy in-lieu of the cash reserve requirement. The total principal and interest outstanding at June 30, 2025 is $35,512,713 for the Series 2018A and $407,120 for the Series 2018B.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
94 Note 8 – Long-Term Liabilities (Continued)
C. Fiduciary Fund Financial Statements (Continued)
Tax Allocation Refunding Bonds, Series 2018A and 2018B (Public Offering) The annual debt service requirements for the 2018 TARBs outstanding at June 30, 2025 are as follows:

Year Ending
June 30, Principal Interest Total
2026 1,230,000 $ 1,190,525 $ 2,420,525 $
2027 1,705,000 1,125,675 2,830,675
2028 1,765,000 1,047,450 2,812,450
2029 1,480,000 966,325 2,446,325
2030 2,050,000 878,075 2,928,075
2031-2035 11,120,000 3,076,675 14,196,675
2036-2039 7,305,000 572,988 7,877,988
Total $ 26,655,000 $ 8,857,713 $ 35,512,713
Tax Allocation Refunding Bonds, Series 2018A
Year Ending
June 30, Principal Interest Total
2026 400,000 $ 7,120 $ 407,120 $
Total $ 7,120 400,000 $ 407,120 $
Tax Allocation Refunding Bonds, Series 2018B
D. Component Unit
A summary of changes in the long-term liabilities of the component unit for the twelve month period ended September 30, 2024, is as follows:

Balance Debt Debt Balance Due within Due in More
October 1, 2023 Issued Retired September 30, 2024 One Year Than One Year Component Unit:

Direct borrowings:

Loans payable:

Farmers' Home Administration loan 189,734 $ $ - $ (18,037) $ 171,697 $ 18,211 $ 153,486 Citizen Business Bank loan 2,457,979 - (123,109) 2,334,870 127,910 2,206,960 Total loans payable 2,647,713 - (141,146) 2,506,567 146,121 2,360,446 Total $ - 2,647,713 $ (141,146) $ 2,506,567 $ 146,121 $ 2,360,446 $ Classification
Farmers' Home Administration loan
Notes payable to Farmers' Home Administration, 1.00% due in monthly installments of $1,653, including interest, first trust deeds on land and building subject to note.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
95 Note 8 – Long-Term Liabilities (Continued)
D. Component Unit (Continued)
Citizen Business Bank loan
Note payable to Citizen Business Bank, 4.75% due in monthly installments of $19,852, including interest, secured by assets subject to note.

The total annual debt service requirements for the Component Unit long-term liabilities outstanding at September 30, 2024 are as follows:

Year Ending
September 30, Principal Interest Total
2025 146,121 $ 109,292 $ 255,413 $
2026 155,282 102,777 258,059
2027 162,106 95,955 258,061
2028 1,945,217 31,136 1,976,353
2029 16,806 910 17,716
2030-2034 78,543 2,187 80,730
2035-2039 2,492 21 2,513
Total $ 342,278 2,506,567 $ 2,848,845 $
Note 9 – Special Assessment Debt with No City Commitment The City issued special tax and assessment bonds on behalf of property owners, pursuant to the Improvement Bond Act of 1915 and the Mello-Roos Community Facilities Act of 1982, to finance the acquisition and construction of certain infrastructure improvements within the assessment districts and community facilities districts.

The City acts solely as an agent for those paying special tax and assessments and remits the amounts collected to the bondholders of these fixed-rate Improvement Bond Act of 1915 and Mello-Roos Community Facilities Act of 1982 issues. The City is acting as an custodian and is in no way liable for the special assessment debt and, accordingly, the debt is not recorded in these financial statements.

On January 1, 2018, the City of Madera, on behalf of the City of Madera Community Facilities District No. 2006-1, issued the City of Madera Community Facilities District No. 2006-1 Special Tax Refunding Bonds Series 2018 to refund the CFD 2006-1 Series Special Tax Bond for the purpose of creating annual debt savings. Total debt service payments were reduced by $88,740. The amount of principal outstanding as of June 30, 2025 is $1,970,021 The bonds are not a general obligation of the City but are limited obligations, payable solely from special tax and assessments.

The City has no obligation beyond the balances in the designated custodial funds for any delinquent assessment district bond payments. If delinquencies occur beyond the amounts held in the reserve funds created from bond proceeds, the City has no duty to pay the delinquency out of the available funds of the City. Neither the faith and credit nor the taxing power of the City, or the State of California, or any political subdivision thereof is pledged to the payment of these bonds. Noncommittal debt amounts issued and outstanding at June 30, 2025 were $1,862,277.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
96 Note 10 – Compensated Absences
A. Governmental Activities
A summary of changes in the compensated absences balances for the governmental activities for the year ended June 30, 2025 is as follows:

Balance
July 1, 2024, Increase Balance Due within Due in More
as restated (Decrease) June 30, 2025 One Year Than One Year Compensated absences 2,668,589 $ 15,479 $ 2,684,068 $ 1,515,461 $ 1,168,607 $ Classification
Compensated absences in the governmental activities are obligations of the following funds:

Governmental Funds $ 2,457,667
Fleet Maintenance 83,307
Facilities Maintenance 96,063
Technology 47,031
Total $ 2,684,068
B. Business-Type Activities
A summary of changes in the compensated absences balances for the business-type activities for the year ended June 30, 2025 is as follows:

Balance
July 1, 2024, Increase Balance Due within Due in More
as restated (Decrease) June 30, 2025 One Year Than One Year Compensated absences 794,705 $ (141,132) $ 653,573 $ 448,702 $ 204,871 $ Classification
Compensated absences in the business-type activities are obligations of the following funds:

Water Fund $ 262,319
Sewer Fund 180,345
Solid Waste Fund 94,142
Drainage Operations Fund 57,264
Local Transit Fund 57,751
Airport Fund 1,752
Total $ 653,573
C. Component Unit
A summary of changes in the compensated absences balances for the component unit for the twelve month period ended September 30, 2024 is as follows:

Balance Increase Balance Due within Due in More
October 1, 2023 (Decrease) September 30, 2024 One Year Than One Year Compensated absences $ 106,902 $ (49,964) $ 56,938 $ 28,469 $ 28,469 Classification
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
97 Note 11 – Risk Management
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters for which the City obtains insurance coverage.

The City is a member of the Central San Joaquin Valley Risk Management Authority (CSJVRMA), a public entity risk pool for workers’ compensation and general liability insurance. The CSJVRMA is a consortium of fifty-three cities located in California’s San Joaquin Valley. It was established under the provisions of California Government Code Section 6500 et. seq. CSJVRMA is governed by a Board of Directors, consisting of one member appointed by each member city. The day-to-day business operations are handled by a management group employed by CSJVRMA.

The relationship between the City and CSJVRMA is such that the CSJVRMA is not considered a component unit of the City for financial reporting purposes.

General Liability Insurance coverage is addressed via retention maintained by the City and participation in CSJVRMA. The City maintains a self-insured retention level of $100,000 and participates in the CSJVRMA risk pool for coverage up to $1,000,000. CSJVRMA participates in an excess pool, which provides coverage from $1,000,000 to $29,000,000.

Workers’ Compensation coverage is also addressed via a retention maintained by the City and participation in CSJVRMA. The City maintains a self-insured retention level of $100,000 and participates in the CSJVRMA risk pool for additional coverage up to $250,000. CSJVRMA also participates in an excess pool which provides workers’ compensation coverage from $250,000 to $500,000 and purchases excess insurance of approximately $500,000 to the statutory limit.

Public entity risk pools are formally organized and separated entities established under the Joint Exercise of Powers Act of the State of California. As separate legal entities, those entities exercise full powers and authorities within the scope of the related Joint Powers Agreements including the preparation of annual budgets, accountability for all funds, the power to make and execute contracts and the right to sue and be sued. Each risk pool is governed by a board consisting of representatives from member municipalities. Each board controls the operations of the respective risk pool, including selection of management and approval of operating budgets, independent of any influences by member municipalities beyond their representation of that board. Obligations and liabilities of these risk pools are not the City's responsibility.

CSJVRMA is currently operating as a common risk management and insurance program for 53 member cities. The program's general objectives are to formulate, develop, and administer, on the behalf of the member cities, a program of insurance, to obtain lower cost for that coverage, and to develop a comprehensive loss control program. A member may withdraw from CSJVRMA only by giving six-month notice. Cities applying for membership in CSJVRMA may do so on approval of a two-thirds vote of the board of CSJVRMA.

The financial information of the CSJVRMA for fiscal year ended June 30, 2025, is as follows:

Total assets $ 206,777,744
Total liabilities $ 157,063,998
Net position $ 49,713,746
Operating revenues $ 85,738,001
Operating expenses $ 86,877,199
Nonoperating revenues (expenses) $ 8,298,143
Change in net position $ 7,158,945
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
98 Note 12 – Pension Plans
A. Summary
Governmental Business-Type Component
Activities Activities Total Unit
Deferred outflows of resources:

Pension contribution made after measurement date:

CalPERS Miscellaneous $ 1,215,923 2,868,468 $ 4,084,391 $ 135,253 $ CalPERS Safety - 2,919,610 2,919,610 -
Total pension contribution made after measurement date 1,215,923 5,788,078 7,004,001 135,253 Change in assumption:

CalPERS Miscellaneous - - - 105,219
CalPERS Safety 589,504 - 589,504 -
Total change in assumption 589,504 - 589,504 105,219
Projected earnings on pension plan investments in excess of actual earnings:

CalPERS Miscellaneous 775,646 328,791 1,104,437 235,676 CalPERS Safety 1,156,505 1,156,505 - -
Total projected earnings on pension plan investments in excess of actual earnings 1,932,151 328,791 2,260,942 235,676 Difference between expected and actual experience:

CalPERS Miscellaneous 118,969 50,429 169,398 353,947
CalPERS Safety 1,889,139 1,889,139 - -
Total difference between expected and actual experience 2,008,108 50,429 2,058,537 353,947 Employer contributions in excess of proportionate share of contribution:

CalPERS Safety 1,036,580 1,036,580 - -
Total employer contributions in excess of proportionate share of contribution 1,036,580 1,036,580 - 9,847 Total deferred outflows of resources
CalPERS Miscellaneous 3,763,083 1,595,143 5,358,226 839,942 CalPERS Safety 7,591,338 - 7,591,338 -
Total deferred outflows of resources $ 11,354,421 $ 1,595,143 $ 12,949,564 $ 839,942 Net pension liability:

CalPERS Miscellaneous $ 21,572,523 $ 9,144,441 $ 30,716,964 $ 4,093,808 CalPERS Safety 23,926,654 23,926,654 - -
Total net pension liability $ 45,499,177 $ 9,144,441 $ 54,643,618 $ 4,093,808 Deferred inflows of resources:

Adjustment due to difference in proportions:

CalPERS Miscellaneous $ - $ - $ - $ 243,646
CalPERS Safety 589,447 - 589,447 -
Total adjustment due to difference in proportions 589,447 - 589,447 243,646 Employer contributions in excess of proportionate share of contribution:

CalPERS Miscellaneous - - - 13,903
Total employer contributions in excess of proportionate share of contribution - - - 13,903 Changes in actual vs. expected experience
CalPERS Miscellaneous - - - 13,811
Total difference between expected and actual experience - - - 13,811 Total deferred inflows of resources
CalPERS Miscellaneous - - - 271,360
Total deferred inflows of resources $ 589,447 $ - $ 589,447 $ 271,360 Pension expenses (income):

CalPERS Miscellaneous $ 2,957,003 $ 1,253,453 $ 4,210,456 $ 460,097 CalPERS Safety 4,926,067 4,926,067 - -
Total net pension expenses (income) $ 7,883,070 $ 1,253,453 $ 9,136,523 $ 460,097 City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
99 Note 12 – Pension Plans (Continued)
B. City Miscellaneous Plan
Plan Description
Substantially all City employees working the equivalent of 1,000 hours per fiscal year are eligible to participate in the Miscellaneous Plan Agent multiple-employer defined benefit plan or the Safety Plan Cost-sharing multipleemployer defined benefit administered by California Public Employees Retirement System (CalPERS), which acts as a common investment and administrative agent for its participating member employers. Benefit Provisions under the Plans are established by State statutes within the Public Employee’s Retirement Law. CalPERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website. Copies of the CalPERS annual financial report may be obtained from the CalPERS Executive Office – 400 P Street, Sacramento, CA 95814.

Employees Covered
At June 30, 2024, the measurement date, the following employees were covered by the benefit terms for the Plan:

Active employees 185
Transferred and terminated employees 324
Retired employees and beneficiaries 272
Total 781
Benefits Provided
CalPERS provide retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Classic CalPERS member becomes eligible for service retirement upon attainment of age 50; full formula at age 55 with at least 5 years of credited service. Public Employees’ Pension Reform Act (“PEPRA”) miscellaneous members become eligible for service retirement upon attainment of age 52; full formula at 62 with at least 5 years of service. The service retirement benefit is a monthly allowance equal to the product of the benefit factor, years of service, and final compensation. The final compensation is the monthly average of the member's highest 36 full-time equivalent monthly pay.

Following are the benefit provisions for each plan:

Prior to January 1, 2011 thru On or After
Hire Date January 1, 2011 January 1, 2013 January 1, 2013 Benefit formula 2.5% @ 55 2% @ 60 2% @ 62
Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments Monthly for life Monthly for life Monthly for life Retirement age 50 - 55 50 - 63 52 - 67
Monthly benefits, as a % of eligible compensation 2.000% to 2.500% 1.092% to 2.418% 1.000% to 2.500% Required employee contribution rates 8.00% 7.000% 6.900% Required employer contribution rates 10.690% 10.690% 10.690% Final Annual Compensation 1 year 3 years 3 years
City Miscellaneous Plan
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
100
Note 12 – Pension Plans (Continued)
B. City Miscellaneous Plan (Continued)
Contributions
Section 20814(c) of the California Public Employees’ Retirement Law (“PERL”) requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. 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. For the year ended June 30, 2025, the employer contributions made for the Miscellaneous Plan was $4,084,391.

Net Pension Liability
The City’s net pension liability 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 described as follows.

Actuarial Assumptions
The total pension liabilities in the June 30, 2023 actuarial valuations were determined using the following actuarial assumptions:

Actuarial Cost Method
Actuarial Assumptions:

Discount Rate
Inflation
Payroll Growth
Salary Increases
Mortality Rate Tables(1)
Post Retirement Benefit Increase
Entry Age Normal in accordance with the requirement of GASB Statement No. 68

6.90%

2.30%
(1) The mortality table used was developed based on CalPERS-specific data. The probabilities of mortality are based on the 2021 CalPERS Experience Study and Review of Actuarial Assumptions. Mortality rates incorporate full generational mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries. For more details on this table, please refer to the 2021 experience study report from November 2021 that can be found on the CalPERS website.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
101
Note 12 – Pension Plans (Continued)
B. City Miscellaneous Plan (Continued)
Discount Rate
In determining the long-term expected rate of return, CalPERS took into account, both short-term and long-term market return expectations as well as the expected pension fund cash flows. Such cash flows were developed assuming that both members and employers will make their required contributions on time and as scheduled in all future years. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calculated over the short-term (first 10 years) and the long-term (11-60 years) using a building-block approach.

Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equivalent to the single equivalent rate calculated above and rounded down to the nearest one quarter of one percent.

The table below reflects long-term expected real rate of return by asset class. The rate of return was calculated using the capital market assumptions applied to determine the discount rate and asset allocation. These geometric rates of return are net of administrative expenses.

Assumed Asset Real Return
Asset Class1 Allocation Years 1-102
Global Equity - Cap-weighted 30.00% 4.45%
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%
1 An expected inflation of 2.30% used for this period.
2 Figures are based on the 2021 Asset Liability Management study.

The discount rate used to measure the total pension liability was 6.90% for the plan. To determine whether the municipal bond rate should be used in the calculation of a discount rate for each plan, CalPERS stress tested plans that would most likely result in a discount rate that would be different from the actuarially assumed discount rate.

Based on the testing, none of the tested plans run out of assets. Therefore, the current 6.90% discount rate is adequate and the use of the municipal bond rate calculation is not necessary. The long term expected discount rate of 6.90% is applied to all plans in the Public Employees Retirement Fund (PERF). The stress test results are presented in a detailed report called “GASB Crossover Testing Report” that can be obtained from the CalPERS website under the GASB 68 Section.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
102
Note 12 – Pension Plans (Continued)
B. City Miscellaneous Plan (Continued)
Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the City’s net pension liability, calculated using the discount rate, as well as what the City’s net pension liability would be if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate:

Discount Rate - 1% Current Discount Discount Rate + 1%
(5.90%) Rate (6.90%) (7.90%)
Miscellaneous Plan $ 44,908,765 $ 30,716,964 $ 18,993,301 Plan's Aggregate Net Pension Liability/(Asset)
Changes in the Net Pension Liability
The following table shows the changes in net pension liability recognized over the measurement period:

Total Pension
Liability
Plan Fiduciary Net
Position
Net Pension
Liability
Balance at June 30, 2023 (Valuation Date) $ 107,004,280 $ 74,005,016 $ 32,999,264 Changes in the year:

Service cost 1,992,101 - 1,992,101
Interest on the total pension liabilities 7,268,137 - 7,268,137 Changes of benefit terms - - -
Differences between expected and actual experience 200,942 - 200,942 Benefit payments, including refunds of members contributions (5,731,883) (5,731,883) - Plan to plan resource movement - - -
Contributions - employer - 3,775,033 (3,775,033)
Contributions - employee - 916,390 (916,390)
Net investment income - 7,112,275 (7,112,275)
Administrative expenses - (60,218) 60,218
Net changes 3,729,297 6,011,597 (2,282,300)
Balance at June 30, 2024 (Measurement Date) $ 110,733,577 $ 80,016,613 $ 30,716,964 Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions For the year ended June 30, 2025, the City recognized pension expense in the amount of $4,210,456 for the Miscellaneous plans.

The amortization period differs depending on the source of the gain or loss. The difference between projected and actual earnings is amortized over 5-years straight line. All other amounts are amortized straight-line over the average expected remaining service lives of all members that are provided with benefits (active, inactive and retired) as of the beginning of the measurement period.

The Expected Average Remaining Service Lifetime (“EARSL”) is calculated by dividing the total future service years by the total number of plan participants (active, inactive, and retired) in the risk pool. The EARSL for the Miscellaneous Plan for the 2023-24 measurement period is 2.6 years, which was obtained by dividing the total service years of 1,896 (the sum of remaining service lifetimes of the active employees) by 742 (the total number of participants: active, inactive, and retired).

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
103
Note 12 – Pension Plans (Continued)
B. City Miscellaneous Plan (Continued)
Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions (Continued) At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions made subsequent
to measurement date 4,084,391 $ - $
Difference between projected and actual
earning on pension plan investments 1,104,437 -
Differences between expected
and actual experience 169,398 -
Total 5,358,226 $ - $
For the City Miscellaneous Plan, $4,084,391 was reported as deferred outflows of resources related to pensions resulting from City’s contributions subsequent to the measurement date and will be recognized as a reduction of the net pension liability in the year ended June 30, 2026. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

Year Ended June 30,
2026 $ 16,525
2027 1,984,301
2028 (317,426)
2029 (409,565)
2030 -
Thereafter -
$ 1,273,835
Deferred Outflows/
(Inflows) of
Resources
Pension Plan Fiduciary Net Position
Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.

Payable to the Pension Plan
The City reported a payable of $0 for the outstanding amount of contributions to the Miscellaneous pension plan required for the year ended June 30, 2025.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
104
Note 12 – Pension Plans (Continued)
C. City Safety Plan
Employees Covered
At June 30, 2024, the measurement date, the following employees were covered by the benefit terms the Plan:

Active employees 63
Transferred and terminated employees 61
Retired employees and beneficiaries 127
Total 251
Benefits Provided
CalPERS provide retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Classic and PEPRA Safety CalPERS member becomes eligible for service retirement upon attainment of age 50 with at least 5 years of credited service. The service retirement benefit is a monthly allowance equal to the product of the benefit factor, years of service, and final compensation. The final compensation is the monthly average of the member's highest 36 full-time equivalent monthly pay.

Following are the benefit provisions for each plan:

Prior to January 1, 2011 thru On or After
Hire Date January 1, 2011 January 1, 2013 January 1, 2013 Benefit formula 3% @ 50 3% @ 55 2.7% @ 57
Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments Monthly for life Monthly for life Monthly for life Retirement age 50 50 - 55 50 - 57
Monthly benefits, as a % of eligible compensation 3.000% 2.400% to 3.000% 2.000% to 2.700% Required employee contribution rates 9.00% 9.000% 13.000% Required employer contribution rates 27.100% 22.800% 13.500% Final Annual Compensation 1 year 1 year 1 year
City Safety Plan
Contributions
Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. The total plan contributions are determined through the CalPERS’ annual actuarial valuation process. For public agency cost-sharing plans covered by the Safety risk pools, the Plan’s actuarially determined rate is based on the estimated amount necessary to pay the Plan’s allocated share of the risk pool’s costs of benefits earned by employees during the year, and any unfunded accrued liability. The employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.

For the year ended June 30, 2025, employer contributions made for the Safety Cost-sharing Plan was $2,919,610.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
105
Note 12 – Pension Plans (Continued)
C. City Safety Plan (Continued)
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions The City’s net pension liability for each Plan is measured as the proportionate share of the net pension liability.

The net pension liability of the Plans is measured as of June 30, 2024, and the total pension liability for each Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2023 rolled forward to June 30, 2024 using standard update procedures. The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of contributions to the pension plans relative to the projected contributions of all participating employers, actuarially determined.

As of June 30, 2025, the City reported net pension liability for its proportionate shares of the net pension liability of the Safety Plan as follows:

Plan Total Pension Plan Fiduciary Net Plan Net Pension
Liability Position Liability/(Asset)
Balance at: 6/30/23 (Valuation date) 79,446,804 $ 54,670,892 $ 24,775,912 $ Balance at: 6/30/24 (Measurement date) 83,768,926 59,842,272 23,926,654 Net Changes during 2023-2024 4,322,122 5,171,380 (849,258) Increase (Decrease)
The following is the approach established by the plan actuary to allocate the net pension liability and pension expense to the individual employers within the risk pool. (1) In determining a cost-sharing plan’s proportionate share, total amounts of liabilities and assets are first calculated for the risk pool as a whole on the valuation date (June 30, 2023). The risk pool’s fiduciary net position (“FNP”) subtracted from its total pension liability (“TPL”) determines the net pension liability (“NPL”) at the valuation date.
(2) Using standard actuarial roll forward methods, the risk pool TPL is then computed at the measurement date (June 30, 2024). Risk pool FNP at the measurement date is then subtracted from this number to compute the NPL for the risk pool at the measurement date. For purposes of FNP in this step and any later reference thereto, the risk pool’s FNP at the measurement date denotes the aggregate risk pool’s FNP at June 30, 2024 less the sum of all additional side fund (or unfunded liability) contributions made by all employers during the measurement period (2023-23).
(3) The individual plan’s TPL, FNP and NPL are also calculated at the valuation date. (4) Two ratios are created by dividing the plan’s individual TPL and FNP as of the valuation date from (3) by the amounts in step (1), the risk pool’s total TPL and FNP, respectively. (5) The plan’s TPL as of the Measurement Date is equal to the risk pool TPL generated in (2) multiplied by the TPL ratio generated in (4). The plan’s FNP as of the Measurement Date is equal to the FNP generated in (2) multiplied by the FNP ratio generated in (4) plus any additional side fund (or unfunded liability) contributions made by the employer on behalf of the plan during the measurement period. (6) The plan’s NPL at the Measurement Date is the difference between the TPL and FNP calculated in (5).

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
106
Note 12 – Pension Plans (Continued)
C. City Safety Plan (Continued)
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions (Continued)
The City’s proportionate share of the net pension liability for the Safety Plan as of June 30, 2023 and 2024 was as follows:

Proportion June 30, 2023 0.36984%
Proportion June 30, 2024 0.32817%
Change - Increase (Decrease) -0.04167%
For the year ended June 30, 2024, the City recognized pension expense in the amount of $4,926,067 for the Safety Plan.

The Expected Average Remaining Service Lifetime (“EARSL”) is calculated by dividing the total future service years by the total number of plan participants (active, inactive, and retired) in the risk pool. The EARSL for the risk pool for the 2023-24 measurement period is 3.8 years, which was obtained by dividing the total service years of 630,177 (the sum of remaining service lifetimes of the active employees) by 166,163 (the total number of participants: active, inactive, and retired).

At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions made subsequent
to measurement date 2,919,610 $ - $
Difference between projected and actual earning on
pension plan investments 1,156,505 -
Adjustment due to differences in proportions - (589,447) Changes in assumptions 589,504 -
Difference between actual and expected experience 1,889,139 - Difference between employer's actual contributions
and proportionate share of contributions 1,036,580 -
Total $ 7,591,338 $ (589,447)
For the City Safety Plan, $2,919,610 was reported as deferred outflows of resources related to pensions resulting from City’s contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2026.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
107
Note 12 – Pension Plans (Continued)
C. City Safety Plan (Continued)
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions (Continued)
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

Year Ended June 30,
Deferred Outflows/
(Inflows) of
Resources
2026 1,588,029 $
2027 2,853,786
2028 36,170
2029 (395,704)
2030 -
Thereafter -
$ 4,082,281
Actuarial Methods and Assumptions Used to Determine Total Pension Liability For the measurement period ended June 30, 2024 (the measurement date), the total pension liability was determined by rolling forward the June 30, 2023 total pension liability. Both the June 30, 2024 and the June 30, 2023 total pension liabilities were based on the following actuarial methods and assumptions:

Actuarial Cost Method
Actuarial Assumptions:

Discount Rate
Inflation
Payroll Growth
Salary Increases
Mortality Rate Tables(1)
Post Retirement Benefit Increase

6.90%

2.75%
Varies by Entry Age and Service
Derived using CalPERS’ Membership Data for all Funds
The lesser of contract COLA or 2.30% until Purchasing Power Protection Allowance floor on purchasing power applies, 2.30% thereafter
Entry Age Normal in accordance with the requirement of GASB Statement No. 68 Discount Rate
The discount rate used to measure the total pension liability was 6.90%. To determine whether the municipal bond rate should be used in the calculation of a discount rate for each plan, CalPERS stress tested plans that would most likely result in a discount rate that would be different from the actuarially assumed discount rate.

Based on the testing, none of the tested plans run out of assets. Therefore, the current 6.90% discount rate is adequate and the use of the municipal bond rate calculation is not necessary. The long term expected discount rate of 6.90% is applied to all plans in the Public Employees Retirement Fund. The stress test results are presented in a detailed report called “GASB Crossover Testing Report” that can be obtained at CalPERS’ website under the GASB 68 section. Payroll growth decreased from 2.80 to 2.75%.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
108
Note 12 – Pension Plans (Continued)
C. City Safety Plan (Continued)
Discount Rate (Continued)
The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. In determining the long-term expected rate of return, staff took into account both short-term and long-term market return expectations as well as the expected pension fund cash flows. Such cash flows were developed assuming that both members and employers will make their required contributions on time and as scheduled in all future years. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calculated over the short-term (first 10 years) and the long-term (11-60 years) using a building block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equivalent to the single equivalent rate calculated above and rounded down to the nearest one quarter of one percent.

Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate The following presents the City’s proportionate share of the net pension liability for the City Safety Plan, calculated using the discount rate for the City Safety Plan, as well as what the City’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate:

Discount Rate - 1% Current Discount Discount Rate + 1%
(5.90%) Rate (6.90%) (7.90%)
$ 35,369,409 $ 23,926,654 $ 14,568,089
Plan's Aggregate Net Pension Liability/(Asset)
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
109
Note 12 – Pension Plans (Continued)
C. City Safety Plan (Continued)
Pension Plan Fiduciary Net Position
Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.

Payable to the Pension Plan
At June 30, 2025, the City reported a payable of $0 for the outstanding amount of contributions to the Safety pension plan required for the year ended June 30, 2025.

D. Component Unit Miscellaneous Plan
Plan Description
All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost Sharing Multiple-Employer Plan (Plan) administered by the California Public Employees’ Retirement System (CalPERS).

The Plan consists of individual rate plans (benefit tiers) within a safety risk pool (police and fire) and a miscellaneous risk pool (all other.) Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous pools. Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under GASB Statement No. 68. Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The Madera Housing Authority (Housing Authority) sponsors three miscellaneous rate plans.

Benefit provisions under the Plan are established by State statute and Housing Authority 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.

Employees Covered
At June 30, 2024, the measurement date, the following employees were covered by the benefit terms the Plan:

Active employees 19
Transferred and terminated employees 67
Retired employees and beneficiaries 34
Total 120
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 full - time employment. Members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits. All members are eligible for nonduty disability benefits after 10 years of service. The death benefit is one of the following: the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for the Plan are applied as specified by the Public Employees’ Retirement Law.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
110
Note 12 – Pension Plans (Continued)
D. Component Unit Miscellaneous Plan (Continued)
Benefits Provided (Continued)
Following are the benefit provisions for each plan:

Prior to January 1, 2011 thru On or After
Hire Date January 1, 2011 January 1, 2013 January 1, 2013 Benefit formula 2.5% @ 55 2% @ 60 2% @ 62
Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments Monthly for life Monthly for life Monthly for life Retirement age 50 - 55 50 - 63 52 - 67
Monthly benefits, as a % of eligible compensation 2.000% to 2.500% 1.092% to 2.418% 1.000% to 2.500% Required employee contribution rates 7.00% 7.000% 8.250% Required employer contribution rates 13.260% 13.260% 8.000% Final Annual Compensation 1 year 1 year 1 year
Miscellaneous - Component Unit
Contributions
Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. The total plan contributions are determined through the CalPERS’ annual actuarial valuation process. For public agency cost-sharing plans covered by the Miscellaneous risk pools, the Plan’s actuarially determined rate is based on the estimated amount necessary to pay the Plan’s allocated share of the risk pool’s costs of benefits earned by employees during the year, and any unfunded accrued liability. The employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.

For the twelve months ended September 30, 2024, employer contributions made for the Housing Authority Miscellaneous Cost- sharing Plan was $135,253.

Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions The Authority’s net pension liability for each Plan is measured as the proportionate share of the net pension liability. The net pension liability of the Plans is measured as of June 30, 2024, and the total pension liability for each Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2023 rolled forward to June 30, 2024 using standard update procedures. The Authority’s proportion of the net pension liability was based on a projection of the Authority’s long-term share of contributions to the pension plans relative to the projected contributions of all participating employers, actuarially determined.

As of September 30, 2024, the Authority reported net pension liability for its proportionate shares of the net pension liability of the Housing Authority Miscellaneous Plan as follows:

Plan Total Pension Plan Fiduciary Net Plan Net Pension
Liability Position Liability/(Asset)
Balance at: 6/30/23 (Valuation date) 11,748,328 $ 7,606,176 $ 4,142,152 $ Balance at: 6/30/24 (Measurement date) 12,103,952 8,010,144 4,093,808 Net Changes during 2023-2024 355,624 403,968 (48,344)
Increase (Decrease)
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
111
Note 12 – Pension Plans (Continued)
D. Component Unit Miscellaneous Plan (Continued)
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions (Continued)
The following is the approach established by the plan actuary to allocate the net pension liability and pension expense to the individual employers within the risk pool. (1) In determining a cost-sharing plan’s proportionate share, total amounts of liabilities and assets are first calculated for the risk pool as a whole on the valuation date (June 30, 2023). The risk pool’s fiduciary net position (“FNP”) subtracted from its total pension liability (“TPL”) determines the net pension liability (“NPL”) at the valuation date.
(2) Using standard actuarial roll forward methods, the risk pool TPL is then computed at the measurement date (June 30, 2024). Risk pool FNP at the measurement date is then subtracted from this number to compute the NPL for the risk pool at the measurement date. For purposes of FNP in this step and any later reference thereto, the risk pool’s FNP at the measurement date denotes the aggregate risk pool’s FNP at June 30, 2023 less the sum of all additional side fund (or unfunded liability) contributions made by all employers during the measurement period (2023-24).
(3) The individual plan’s TPL, FNP and NPL are also calculated at the valuation date. (4) Two ratios are created by dividing the plan’s individual TPL and FNP as of the valuation date from (3) by the amounts in step (1), the risk pool’s total TPL and FNP, respectively. (5) The plan’s TPL as of the Measurement Date is equal to the risk pool TPL generated in (2) multiplied by the TPL ratio generated in (4). The plan’s FNP as of the Measurement Date is equal to the FNP generated in (2) multiplied by the FNP ratio generated in (4) plus any additional side fund (or unfunded liability) contributions made by the employer on behalf of the plan during the measurement period. (6) The plan’s NPL at the Measurement Date is the difference between the TPL and FNP calculated in (5).

The Authority’s proportionate share of the net pension liability for the Housing Authority Miscellaneous Plan as of June 30, 2023 and 2024 was as follows:

Proportion June 30, 2023 0.08284%
Proportion June 30, 2024 0.08464%
Change - Increase (Decrease) 0.00181%
For the twelve months ended September 30, 2024, the Authority recognized pension expense in the amount of $460,097 for the Housing Authority Miscellaneous Plan.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
112
Note 12 – Pension Plans (Continued)
D. Component Unit Miscellaneous Plan (Continued)
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions (Continued)
The Expected Average Remaining Service Lifetime (“EARSL”) is calculated by dividing the total future service years by the total number of plan participants (active, inactive, and retired) in the risk pool. The EARSL for the risk pool for the 2023-24 measurement period is 3.8 years, which was obtained by dividing the total service years of 630,177 (the sum of remaining service lifetimes of the active employees) by 166,163 (the total number of participants: active, inactive, and retired).

At September 30, 2024, the Authority reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions made subsequent
to measurement date $ 135,253 $ -
Difference between projected and actual earning on
pension plan investments 235,676 -
Adjustment due to differences in proportions - (243,646) Changes in assumptions 105,219 -
Difference between actual and expected experience 353,947 (13,811) Difference between employer's actual contributions
and proportionate share of contributions 9,847 (13,903) Total $ (271,360) 839,942 $
For the Housing Authority Miscellaneous Plan, $135,253 was reported as deferred outflows of resources related to pensions resulting from Authority’s contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the twelve months ended September 30, 2025.

Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

Twelve Months Ended
September 30,
Deferred Outflows/
(Inflows) of
Resources
2025 $ 60,837
2026 471,447
2027 (18,191)
2028 (80,764)
2029 -
Thereafter -
$ 433,329
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
113
Note 12 – Pension Plans (Continued)
D. Component Unit Miscellaneous Plan (Continued)
Actuarial Methods and Assumptions Used to Determine Total Pension Liability For the measurement period ended June 30, 2024 (the measurement date), the total pension liability was determined by rolling forward the June 30, 2023 total pension liability. Both the June 30, 2023 and the June 30, 2024 total pension liabilities were based on the following actuarial methods and assumptions:

Actuarial Cost Method
Actuarial Assumptions:

Discount Rate
Inflation
Salary Increases
Mortality Rate Tables(1)
Post Retirement Benefit Increase The lesser of contract COLA or 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 probabilities of mortality are based on the 2021 CalPERS Experience Study and Review of Actuarial Assumptions. Mortality rates incorporate full generational mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries. For more details on this table, please refer to the 2021 experience study report from November 2021 that can be found on the CalPERS website.

Entry Age Normal in accordance with the requirement of GASB Statement No. 68

6.90%

2.30%
Varies by Entry Age and Service
Derived using CalPERS’ Membership Data for all Funds
Discount Rate
The discount rate used to measure the total pension liability was 6.90%. To determine whether the municipal bond rate should be used in the calculation of a discount rate for each plan, CalPERS stress tested plans that would most likely result in a discount rate that would be different from the actuarially assumed discount rate. Based on the testing, none of the tested plans run out of assets. Therefore, the current 6.90% discount rate is adequate and the use of the municipal bond rate calculation is not necessary. The long term expected discount rate of 6.90% is applied to all plans in the Public Employees Retirement Fund. The stress test results are presented in a detailed report called “GASB Crossover Testing Report” that can be obtained at CalPERS’ website under the GASB 68 section.

The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. In determining the long-term expected rate of return, staff took into account both short-term and long-term market return expectations as well as the expected pension fund cash flows. Such cash flows were developed assuming that both members and employers will make their required contributions on time and as scheduled in all future years. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calculated over the short-term (first 10 years) and the long-term (11-60 years) using a building block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equivalent to the single equivalent rate calculated above and rounded down to the nearest one quarter of one percent.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
114
Note 12 – Pension Plans (Continued)
D. Component Unit Miscellaneous Plan (Continued)
Discount Rate (Continued)
The table below reflects long-term expected real rate of return by asset class. The rate of return was calculated using the capital market assumptions applied to determine the discount rate and asset allocation. These geometric rates of return are net of administrative expenses.

Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate The following presents the Authority’s proportionate share of the net pension liability for the Housing Authority Miscellaneous Plan, calculated using the discount rate for the Housing Authority Miscellaneous Plan, as well as what the City’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate:

Discount Rate - 1% Current Discount Discount Rate + 1%
(5.90%) Rate (6.90%) (7.90%)
$ 5,727,120 $ 4,093,808 $ 2,749,352
Plan's Aggregate Net Pension Liability/(Asset)
Pension Plan Fiduciary Net Position
Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.

Payable to the Pension Plan
At September 30, 2024, the Housing Authority reported a payable of $0 for the outstanding amount of contributions to the pension plan required for the twelve months ended September 30, 2024.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
115
Note 13 – Other Postemployment Benefits
A. Summary
Governmental Business-Type
Activities Activities Total
Deferred outflows of resources:

Employer contributions made
subsequent to the measurement date 213,250 $ 74,211 $ 287,461 $ Difference between expected and actual experience 60,828 307,258 368,086 Changes in assumptions 338,702 67,052 405,754
Total deferred outflows of resources $ 202,091 859,210 $ 1,061,301 $ Total OPEB liability:

Total OPEB liability 4,176,680 $ 826,854 $ 5,003,534 $
Total OPEB liability $ 826,854 4,176,680 $ 5,003,534 $
Deferred inflows of resources:

Difference between expected and actual experience $ 44,731 225,950 $ 270,681 $ Changes in assumptions 148,902 29,479 178,381
Total deferred inflows of resources $ 74,210 374,852 $ 449,062 $ OPEB Expense $ 114,300 577,355 $ 691,655 $
B. General Information about OPEB
Plan Description
The City administers a single employer defined benefit (implicit subsidy) healthcare plan. No assets have been accumulated in a trust for the payment of benefits that meets the criteria in paragraph 4 of Governmental Accounting Standards Board Statement No. 75.

Employees from groups other than Management who have attained age 50 and completed at least five years of PERS service or who become eligible for medical disability benefits under PERS, are eligible to retire and participate in the City's healthcare plans by paying COBRA premiums based on 102% of the premiums applicable to active employees. Spouses and eligible dependent children of retirees may also be covered at the retiree's expense. Eligibility for this benefit ends at age 65 or when the individual becomes eligible for Medicare.

Management employees, who meet the requirements, may retire and receive City-paid medical insurance for the retiree only. This is a grandfathered benefit and is no longer offered prospectively to new Management employees, nor is it provided to any employee who did not meet required criteria as of December 31, 2018. Once the retiree attains age 65, a Medicare Supplement benefit is payable by the City for the retiree only, for the retiree's further lifetime. Employees from Management who do not have the grandfathered benefit are eligible to retire and participate in the City's healthcare plans by paying COBRA premiums based on 102% of the premiums applicable to active employees.

Covered Employees
Membership in the plan consisted of the following at June 30, 2024, the date of the latest actuarial valuation:

Active employees 236
Retired employees and beneficiaries 10
Total 246
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
116
Note 13 – Other Postemployment Benefits (Continued)
B. General Information about OPEB (Continued)
Contributions
The obligation of the City to contribute to the plan is established and may be amended by the City Council. The City Council has established a policy of paying the premiums of the actuarially determined contribution (ADC) on a pay as you go basis. For the fiscal year ended June 30, 2025, the City’s average contribution rate was 2.41% of covered-employee payroll. Employees are not required to contribute to the plan.

C. Total OPEB Liability, OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB Total OPEB Liability
The City’s total OPEB liability was measured as of June 30, 2024. The total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation as of June 30, 2024. The total OPEB liability at June 30, 2024 was $5,003,534.

Actuarial Assumptions
The total OPEB liability in the June 30, 2023 actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement, unless otherwise specified:

Discount Rate
Inflation
Aggregate payroll increases
Expected long-term investment rate of return
Mortality, Termination, and Disability
Mortality Improvement Scale
Healthcare Trend Rate

3.97%

2.50%

3.00%
n/a
CalPERS 2021 Experience Study
Modified projected fully generational with Scale MP-2014

7.50 percent for 2024 decreasing to 5.40 percent for 2029, 5.25 percent for 2030-2034, 4.60 percent for 2035-2049, 4.50 percent for 2050-2064,

4.25 percent for 2065-2074, and 4.00 percent for 2075 and later years; Medicare ages: 4.50 percent for 2024-2064, 4.25 percent for 2065-2074, and 4.00 percent for 2075 and later years.

The actuarial assumptions used in the June 30, 2023 valuation were based on the results of an actuarial experience study for the period July 1, 2022 through June 30, 2023.

Changes in Assumptions
The City’s discount rate used to measure the total OPEB liability increased from 3.86 to 3.97 percent for the measurement period ended June 30, 2024.

Discount Rate
The discount rate used to measure the total OPEB liability was 3.97% percent. This discount rate is the mid-point, rounded to five basis points, of the range of 3-20 year municipal bond rate indices; S&P Municipal bond 20 Year High Grade Rate Index, Bond Buyer 20-Bond GO Index, and Fidelity GO AA 20 Year Bond Index.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
117
Note 13 – Other Postemployment Benefits (Continued)
C. Total OPEB Liability, OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB (Continued)
Change in the Total OPEB Liability
Total OPEB
Liability
Balance at June 30, 2023 (Measurement Date) $ 4,826,927 Changes Recognized for the Measurement Period:

Service Cost 399,638
Interest on the total OPEB liability 196,481
Difference between expected and actual experience (295,514) Changes of assumptions 151,386
Benefit payments (275,384)
Net Changes during July 1, 2023 to June 30, 2024 176,607 Balance at June 30, 2024 (Measurement Date) $ 5,003,534 Sensitivity of the Total OPEB Liability to Changes in the Discount Rate The following presents the total OPEB liability of the City, as well as what the City’s total OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower (2.97 percent) or 1-percentage- point higher (4.97 percent) than the current discount rate:

Discount Rate - 1% Current Discount Discount Rate + 1%
(2.97%) Rate (3.97%) (4.97%)
$ 5,003,534 5,578,280 $ 4,490,771 $
Plan's Total OPEB Liability
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, as well as what the City’s total OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower or 1-percentage-point higher than the current healthcare cost trend rates:

Healthcare Cost
-1% Trend Rates 1%
$ 5,003,534 4,329,307 $ 5,818,506 $
Plan's Total OPEB Liability
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
118
Note 13 – Other Postemployment Benefits (Continued)
C. Total OPEB Liability, OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB (Continued)
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the fiscal year ended June 30, 2025, the City recognized OPEB expense of $691,655. 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
Employer contributions made
subsequent to the measurement date $ - 287,461 $
Difference between expected and actual experience 368,086 (270,681) Changes of assumptions 405,754 (178,381)
Total $ (449,062) 1,061,301 $
The difference between projected OPEB plan investment earnings and actual earnings is amortized over a five year period. The remaining gains and losses are amortized over the expected average remaining service life. The expected average remaining service life is 9.2 years, which was determined as of June 30, 2023, the beginning of the measurement period, for employees covered by the OPEB plan benefit terms as of the valuation date.

For the OPEB plan, $287,461 was reported as deferred outflows of resources related to OPEB resulting from the City’s contributions subsequent to the measurement date will be recognized as a reduction of the net OPEB liability in the year ended June 30, 2026. Other amounts reported as deferred outflows of resources related to OPEB will be recognized as future OPEB expense as follows:

Year Ended Deferred Outflows/
June 30, (Inflows) of Resources
2026 95,536 $
2027 113,207
2028 89,224
2029 38,188
2030 9,030
Thereafter (20,407)
$ 324,778
Note 14 – Deferred Compensation Plan
A. City
The City offers its employees a deferred compensation plan in accordance with Internal Revenue Code Section 457. The plan was amended so that the assets of the plan are held in trust for the exclusive benefit of the participants and their beneficiaries. The employer is not required to contribute to the deferred compensation plan but is required for full time non-management, non-sworn employees. Since the plan assets are administered by an outside party and not subject to the claims of the City’s general creditors, their assets and related liabilities are not on the City’s financial statements in accordance with Governmental Accounting Standards Board (GASB) Statement No. 97, “Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans – An Amendment of GASB Statements No. 14 and No. 84, and a Supersession of GASB Statement No. 32.”
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
119
Note 14 – Deferred Compensation Plan (Continued)
B. Component Unit
The Housing Authority offers all of its full-time employees a deferred compensation plan (the Plan) created in accordance with Internal Revenue Code Section 457. The Plan permits employees to defer a portion of their current salary until future years. Participating employees may begin to receive the balance of their deferred compensation account upon termination, retirement, death, or emergency. Employees may also borrow against their deferred compensation account while employed (up to 50% of the current balance) under the deferred compensation loan program. Employees direct the investment of Plan assets into certificates of deposits and various mutual funds. The Housing Authority has insignificant administrative duties.

Note 15 – Service Concession Agreement
On June 21, 2023, the City approved an amendment to the Madera Municipal Golf Course Operation and Management Lease Agreement (Agreement) with Sierra Golf Management Inc. dba Sierra Golf Management, Inc. (SGM), extending the term to five years after the current lease agreement expiration on June 30, 2023, and making various economic modifications. The Agreement would be for 5 years and includes, at City discretion, one option to extend the term an additional five years. This would mean the agreement would expire on June 30, 2028, with the five-year extension available through June 30, 2033. The Agreement would increase the base rent to the present value of $65,000 annually to lease the golf course and clubhouse facilities. SGM will remit $2.75 per round of golf to the City in years one through four. The remittance will increase to $3.00 per round in year five. SGM, the Clubhouse Tenant (currently Sugar Pine Smokehouse), and the City will each contribute $25,000 annually to a capital improvement fund. Thus, the grand contribution for capital improvements annually shall be $75,000. City will hold SGM capital funds of $50k per year until capital projects are completed.

SGM is required to operate and maintain the golf course in accordance with the Agreement.

Note 16 – Other Required Disclosures
A. Deficit Fund Balances/Net Position
At June 30, 2025, the following funds had a fund balance (deficit) or a net position (deficit), which will be eliminated by the City as follows:

Fund Fund Type Deficit Plan to eliminate deficit
RDA Successor Agency Fund Private Purpose Trust Fund 21,812,009 $ Continued RPTTF payments from State B. Expenditures Exceeding Appropriations
For the year ended June 30, 2025, expenditures exceeded appropriations in the following funds/departments:

Excess Expenditures
Fund Department over Appropriations
General Fund General government: Economic development 123,627 $ Public protection: Police 140,586
Debt service: Principal 6,039
Debt service: Interest and fiscal charges 287
City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
120
Note 17 – Fund Balance Classification
The City classifies fund balances, as shown on the Balance Sheet – Governmental Funds, as follows as of June 30, 2025:

General
Development Measure "T" American Non-major
General Impact Sales Tax Rescue Plan Governmental
Fund Fee Fund Fund Act Fund Funds Total
Nonspendable
Prepaid items 116,214 $ - $ - $ - $ 19,408 $ 135,622 $
Inventories 85,412 - - - - 85,412
Total nonspendable - 201,626 - - 19,408 221,034
Restricted
Community development - - - 12,008,236 - 12,008,236
Park development - - - 164,493 - 164,493
Parking improvements - - - 123,257 - 123,257
Public works and transportation - 20,998,839 - 6,851,944 - 27,850,783 Special assessment project - - 724,579 - 688,405 1,412,984 Opioid settlement - - - 136,132 - 136,132
Insurance premium reserve 4,299,453 - - - 4,299,453 -
Public protection - - - 928,319 - 928,319
Capital projects and improvements 19,159,738 - - 4,487,939 - 23,647,677 Total restricted 4,299,453 19,159,738 20,998,839 724,579 25,388,725 70,571,334 Committed
General Fund stabilization reserve 12, - 781,798 - - - 12,781,798 General plan update 50,000 - - - - 50,000
Solar street light repair Installation 50,000 - - - - 50,000 Measure K - Fire Protection Stabilization - 941,378 - - - 941,378 Measure K - Police Protection Stabilization - 947,019 - - - 947,019 Measure K - Fire Protection Vehicle Replacement 1, - 157,469 - - - 1,157,469 Total committed - 15,927,664 - - - 15,927,664
Assigned
Golf course capital 20,000 - - - - 20,000
Debt service 1,112,943 - - - 1,112,943 -
OPEB liability 97,339 - - - - 97,339
Future annual stipend payments 740,000 - - - - 740,000
Measure K - Fire Protection 8,306,297 - - - 8,306,297 - Measure K - Police 4,915,570 - - - 4,915,570 -
Measure K - Sales Tax Refund Reserve 900,000 - - - - 900,000 Total assigned - 16,092,149 - - - 16,092,149
Unassigned - 20,022,846 - - - 20,022,846
Total fund balances $ 56,543,738 $ 19,159,738 $ 20,998,839 $ 724,579 $ 25,408,133 $ 122,835,027 City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
121
Note 18 – Net Investment in Capital Assets
Net Investment in Capital Assets at June 30, 2025, consisted of the following:

Governmental Business-type Component
Activities Activities Total Unit
Total capital assets, net $ 194,072,553 $ 121,216,477 $ 315,289,030 $ 4,663,873 Less related debt:

Subscription liability (6,343) - (6,343) -
Finance purchase agreement (16,145,000) (16,145,000) - - Loans payable (61,600) (4,939,000) (5,000,600) (2,506,567) Lease revenue bonds (3,618,712) (3,618,712) - -
Bonds payable (25,674,320) - (25,674,320) -
Unspent bond proceeds 654,538 - 654,538 -
Gain on refunding of debt (219,519) - (219,519) -
Net investment in capital assets $ 174,895,436 $ 90,383,638 $ 265,279,074 $ 2,157,306 Note 19 ‒ Adjustments and Restatements of Beginning Balances During the current year, the City implemented GASB Statement No. 101, Compensated Absences. In addition to the value of unused vacation time owed to employees upon separation of employment, the City now recognizes an estimated amount of sick leave earned as of year-end that will be used by employees as time off in future years as part of the liability for compensated absences. The effects of the change in accounting principle are summarized below in the “Restatement – GASB 101 implementation” column in the table below.

June 30, 2024,
As Previously
Reported
Restatement -
GASB 101
implementation
June 30, 2024,
As Restated
Government-wide
Governmental activities 245,984,097 $ (522,247) $ 245,461,850 $ Business-type activities 130,600,597 (147,886) 130,452,711 Total government-wide $ 376,584,694 $ (670,133) $ 375,914,561 Proprietary funds
Enterprise funds
Major funds:

Water Fund $ 56,253,832 $ (57,658) $ 56,196,174
Sewer Fund 31,548,415 (29,116) 31,519,299
Solid Waste Fund 2,689,299 (31,691) 2,657,608
Drainage Operations Fund 18,267,330 (11,775) 18,255,555 Non-major funds:

Local Transit Fund 7,657,196 (15,827) 7,641,369
Golf Course Fund 1,271,556 1,271,556 -
Airport Fund 12,912,969 (1,819) 12,911,150
Total enterprise funds $ 130,600,597 $ (147,886) $ 130,452,711 Internal service funds
Fleet Maintenance Fund $ 7,754,203 $ (21,097) $ 7,733,106 Facilities Maintenance Fund (444,921) (17,935) (462,856) Technology Fund 388,749 (6,076) 382,673
Total internal service funds $ 7,698,031 $ (45,108) $ 7,652,923 City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
122
Note 20 – Commitments and Contingencies
A. Litigation
The City is currently a party to various claims and legal proceedings. Although the outcome of these lawsuits is not presently determinable, it is management’s opinion that the ultimate liabilities, if any, resulting from such claims and proceedings will not materially affect the financial position of the City.

B. Contingent Liabilities
On March 1, 1993, the City issued Certificates of Participation in the aggregate of $10,250,000 for the benefit of Madera Community Hospital (Hospital), a California nonprofit public benefit corporation. The Hospital is not included in the City’s reporting entity. The City is obligated to make the principal payments only from and to the extent that it receives revenue from the Hospital. In December of 2023, the Hospital closed and filed for bankruptcy protection on March 10, 2024. The hospital came out of bankruptcy and reopened in March 2025.

They are not secured by any pledge of taxes or other revenues of the City. In addition, the purchase payments are insured by the Office of Statewide Health Planning and Development of the State of California. As of June 30, 2025, the City has not recorded revenues from the Hospital.

C. Federal and State Grants
The City participates in various federal grant programs, the principal of which are subject to program compliance audits pursuant to the Single Audit act as amended. Accordingly, the City’s compliance with applicable grant requirements will be established at a future date. The amount of expenditures which may be disallowed by the granting agencies cannot be determined at this time, although the City anticipates such amounts, if any, will be immaterial.

D. Contractual Commitments
The City has active construction projects as of June 30, 2025. At year-end, the City’s major contractual commitments are as follows:

Contract Remaining
Amount Spent-to-Date Commitment
Avenue 13 Sewer Interceptor Rehabilitation $ 12,494,142 $ 11,548,914 $ 945,228 Northwest Water Storage Tank 1,211,740 2,507,159 1,295,419 Sidewalk Improvements 2,365,000 698,805 1,666,195
Solar and Energy Efficiency Equipment 18,848,862 18,347,878 500,984 WWTP 24-01 Improvement Project 10,048,924 775,064 9,273,860 Total $ 46,264,087 $ 32,582,401 $ 13,681,686
In addition, the City has various contracts with developers for the cost of public improvements made through construction of new developments within the City. The agreements are for the reimbursement of reasonable costs for the construction of public improvements within the planned developments. The City agrees to reimburse developers for the City’s proportionate share of the costs of improvements as determined by the City Engineer.

The City will not reimburse any expenses beyond the actual and reasonable costs of installing the improvements.

City of Madera
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
123
Note 20 – Commitments and Contingencies (Continued)
E. Encumbrances
The City uses an encumbrance system as an extension of normal budgetary accounting for all funds. Under this system, purchase orders, contracts, and other commitments for the expenditure of monies are recorded in order to reserve that portion of applicable appropriations. Encumbrances outstanding at year-end are recorded as restricted, committed or assigned fund balance, depending on the classification of the resources to be used to liquidate the encumbrance, since they do not constitute expenditures or liabilities. Outstanding encumbrances at year-end are automatically re-appropriated for the following year. Unencumbered and unexpended appropriations lapse at year-end. Encumbrances for operating expenditures outstanding as of June 30, 2025 amounted to $734,785.

F. Sales Tax Sharing Agreements
In fiscal year 2024, the City of Madera entered into a sales tax sharing agreement with the County of Madera related to the annexation of certain unincorporated areas. Under the agreement, the City retains 95.5% and remits

4.5% of the 1% Bradley-Burns local sales tax generated within the City. The agreement became effective July 1, 2024 and remains in effect for 5 years, unless amended or terminated by mutual consent. The arrangement was established to provide transitional fiscal support to the County for services previously provided to the area.

The City recognizes the full sales tax as revenue when measurable and available and records the County’s portion as an intergovernmental expenditure. For the year ended June 30, 2025, sales tax revenues totaled $12,773,834, with $737,902 remitted to the County.
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125

REQUIRED SUPPLEMENTARY INFORMATION
(Unaudited)
126
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City of Madera
Required Supplementary Information (Unaudited)
Budgetary Information
For the Year Ended June 30, 2025
127
Budgetary Information
The City adheres to the following general procedures in establishing its annual budget, which is reflected in the accompanying schedules:
 Budgets are legally adopted and formal budgetary integration is employed as a management control device during the year for the General and Special Revenue Funds. Budgets presented in this report for comparison to actual amounts are presented in accordance with accounting principles generally accepted in the United States of America. From the effective date of the budget, the amounts stated therein as proposed expenditures become appropriations to the various City departments. During the year ended June 30, 2025, the City did not prepare a budget for the American Rescue Plan Act Special Revenue Fund, SB-1186 ADA Special Revenue Fund, and Opioid Settlement Special Revenue Fund.  Reported budget amounts represent the original legally adopted budget as amended. Individual amendments were not material in relation to the original adopted budget amounts. The City Council may amend the budget to increase appropriations only by a duly adopted minute resolution during a regular meeting, providing that sufficient monies are available and that expenditures of proceeds of taxes will not be increased beyond the constitutional appropriation limit as imposed by Article XIIIB of the State Constitution. Management can transfer, without City Council approval, budgeted amounts provided they do not increase or decrease total fund appropriations adopted by the City Council.  Unexpended budgeted amounts lapse at the end of the budget year. Spending control for the fund is established by the amount of expenditures budgeted for the fund, but management control is exercised at the budgetary line item levels.
 Expenditures may not legally exceed overall budgeted appropriations at the budgetary control level.

Budgetary control level is the department level for the General Fund and the fund level for all other funds.  The budgets of the City’s capital projects are primarily “long-term” budgets which emphasize major programs and capital outlay plans extending over a number of fiscal periods. Therefore, no budget-to-actual schedules are presented for Capital Projects Funds.
128
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City of Madera
Required Supplementary Information (Unaudited)
Budgetary Comparison Schedules – General Fund
For the Year Ended June 30, 2025
129
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Property taxes 13,744,991 $ 13,744,991 $ 14,397,410 $ 652,419 $ Sales and use taxes 19,831,179 19,831,179 19,712,059 (119,120) Other taxes 1,890,899 1,890,899 2,462,529 571,630
Investment income 1,206,586 1,206,586 3,151,997 1,945,411 Franchise fees 812,559 812,559 836,662 24,103
Licenses and permits 955,000 955,000 888,204 (66,796)
Fines and forfeitures 469,000 469,000 407,553 (61,447)
Intergovernmental 3,586,528 3,812,464 2,185,542 (1,626,922) Charges for services 1,005,584 1,005,584 931,029 (74,555) Miscellaneous 1,182,242 1,186,242 640,283 (545,959)
Total revenues 44,914,504 44,684,568 45,613,268 698,764 EXPENDITURES:

Current:

General government
City clerk 739,678 749,628 619,562 130,066
City manager 923,761 923,761 800,325 123,436
Finance 1,053,815 1,053,815 817,900 235,915
City attorney 361,974 376,541 259,928 116,613
Human resources 491,464 518,121 279,609 238,512
Economic development 951,800 951,800 1,075,427 (123,627) Public protection
Police 15,990,574 16,184,819 16,325,405 (140,586)
Fire 7,094,786 7,121,795 6,509,252 612,543
Social services 220,822 220,822 206,450 14,372
Public ways and facilities
Development and engineering 3,513,444 3,527,862 2,897,099 630,763 Community development
Parks and community services 6,010,812 6,354,595 4,178,623 2,175,972 Culture and recreation 5,398,997 5,460,444 4,885,103 575,341 Capital outlay 4,204,496 4,881,338 1,233,608 3,647,730
Debt service:

Principal 275,800 275,800 281,839 (6,039)
Interest and fiscal charges 152,057 152,057 152,344 (287) Total expenditures 47,384,280 48,753,198 40,522,474 8,230,724 REVENUES OVER (UNDER) EXPENDITURES (2,699,712) (3,838,694) 5,090,794 8,929,488 OTHER FINANCING SOURCES (USES):

Transfers in 4,919,338 4,919,338 4,705,328 (214,010)
Transfers out (2,001,362) (2,001,362) (1,978,323) 23,039 Total other financing sources (uses) 2,917,976 2,917,976 2,727,005 (190,971) Net change in fund balance $ 218,264 $ (920,718) 7,817,799 $ 8,738,517 FUND BALANCE:

Beginning of year 48,725,938
End of year $ 56,543,737
Budgeted Amounts
City of Madera
Required Supplementary Information (Unaudited)
Budgetary Comparison Schedules – General Development Impact Fee Special Revenue Fund For the Year Ended June 30, 2025
130
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Investment income $ 255,197 $ 255,197 $ 913,198 $ 658,001 Charges for services 2,379,422 2,379,422 801,278 (1,578,144) Total revenues 2,634,619 2,634,619 1,714,476 (920,143)
EXPENDITURES:

Current:

Public ways and facilities 1,611,780 2,159,132 459,774 1,699,358 Capital outlay 1,733,006 2,078,744 71,230 2,007,514
Total expenditures 3,344,786 4,237,876 531,004 3,706,872 REVENUES OVER (UNDER) EXPENDITURES (710,167) (1,603,257) 1,183,472 2,786,729 OTHER FINANCING SOURCES (USES):

Transfers out (433,771) (1,093,411) (433,771) (659,640) Total other financing sources (uses) (433,771) (1,093,411) (433,771) (659,640) Net change in fund balance $ (1,143,938) $ (2,696,668) 749,701 $ 3,446,369 FUND BALANCE:

Beginning of year 18,410,037
End of year $ 19,159,738
Budgeted Amounts
City of Madera
Required Supplementary Information (Unaudited) (Continued) Budgetary Comparison Schedules – Measure “T” Sales Tax Special Revenue Fund For the Year Ended June 30, 2025
131
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Investment income (loss) $ 569,370 $ 569,370 $ 709,995 $ 140,625 Intergovernmental 3,403,923 3,403,923 4,202,917 798,994 Total revenues 3,973,293 3,973,293 4,912,912 939,619
EXPENDITURES:

Current:

Public ways and facilities - 30,000 27,565 2,435
Capital outlay 6,187,637 6,274,953 129,198 6,145,755
Total expenditures 6,187,637 6,304,953 156,763 6,148,190 REVENUES OVER (UNDER) EXPENDITURES (2,214,344) (2,331,660) 4,756,149 7,087,809 OTHER FINANCING SOURCES (USES):

Transfers out (860,000) (860,000) (860,000) -
Total other financing sources (uses) (860,000) (860,000) (860,000) - Net change in fund balance $ (3,074,344) $ (3,191,660) 3,896,149 $ 7,087,809 FUND BALANCE:

Beginning of year 17,102,690
End of year $ 20,998,839
Budgeted Amounts
City of Madera
Required Supplementary Information (Unaudited) (Continued) Schedule of Changes in the Net Pension Liability and Related Ratios For the Year Ended June 30, 2025
132
Measurement period, year ended 6/30/2024 6/30/2023 6/30/2022 6/30/2021 6/30/2020 Total pension liability
Service cost $ 1,992,101 $ 1,804,008 $ 1,715,940 $ 1,606,099 $ 1,719,344 Interest on total pension liability 7,268,137 7,031,117 6,797,912 6,643,295 6,484,056 Differences between expected and actual
experience 200,942 198,213 (550,819) (711,985) (758,426) Changes in assumptions - 184,586 3,348,073 - -
Changes in benefit terms - - - - -
Benefit payments, including refunds of employee
contributions (5,731,883) (5,658,183) (5,463,626) (5,525,027) (4,890,282) Net change in total pension liability 3,729,297 3,559,741 5,847,480 2,012,382 2,554,692 Total pension liability - beginning 107,004,280 103,444,539 97,597,059 95,584,677 93,029,985 Total pension liability - ending (a) $ 107,004,280 110,733,577 $ 103,444,539 $ 97,597,059 $ $ 95,584,677 Plan fiduciary net position
Contributions - employer 3,775,033 3,617,848 3,270,441 3,088,563 2,776,816 Contributions - employee 916,390 816,702 719,807 724,414 736,497 Investment income (net of administrative expenses) 7,112,275 4,381,741 (5,929,216) 14,821,011 3,166,226 Benefit payments (5,731,883) (5,658,183) (5,463,626) (5,525,027) (4,890,282) Plan to plan resources - - - - -
Other (60,218) (52,136) (48,808) (65,237) (89,670)
Net change in plan fiduciary net position 6,011,597 3,105,972 (7,451,402) 13,043,724 1,699,587 Plan fiduciary net position - beginning 74,005,016 70,899,044 78,350,446 65,306,722 63,607,135 Plan fiduciary net position - ending (b) $ 80,016,613 $ 74,005,016 $ 70,899,044 $ 78,350,446 $ 65,306,722 Net pension liability - ending (a)-(b) $ 30,716,964 $ 32,999,264 $ 32,545,495 $ 19,246,613 $ 30,277,955 Plan fiduciary net position as a percentage
of the total pension liability 72.26% 69.16% 68.54% 80.28% 68.32% Covered payroll $ 10,124,246 10,427,973 $ 9,829,365 $ 9,543,073 $ 10,054,641 $ Net pension liability as a percentage of
covered payroll 294.56% 325.94% 331.10% 201.68% 301.13% Last Ten Years
Miscellaneous Plan
City of Madera
Required Supplementary Information (Unaudited) (Continued) Schedule of Changes in the Net Pension Liability and Related Ratios (Continued) For the Year Ended June 30, 2025
133
Measurement period, year ended 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 Total pension liability
Service cost $ 1,915,335 $ 2,074,876 $ 1,857,394 $ 1,556,770 $ 1,515,655 Interest on total pension liability 6,295,654 5,940,862 5,651,202 5,352,560 5,085,808 Differences between expected and actual
experience 1,363,296 1,082,691 1,184,077 337,609 (269,941) Changes in assumptions (647,285) - 4,531,204 (1,189,492) - Changes in benefit terms - - - - -
Benefit payments, including refunds of employee
contributions (4,548,873) (4,125,431) (3,877,650) (3,532,833) (3,412,481) Net change in total pension liability 5,025,412 4,325,713 9,346,227 3,714,106 1,729,549 Total pension liability - beginning 88,004,573 83,678,860 74,332,633 70,618,527 68,888,978 Total pension liability - ending (a) $ 93,029,985 $ 88,004,573 $ 83,678,860 $ 74,332,633 $ 70,618,527 Plan fiduciary net position
Contributions - employer 2,395,891 2,610,704 $ 2,329,046 $ 1,948,033 $ 1,603,067 $ Contributions - employee 798,675 858,755 829,670 775,135 705,875 Investment income (net of administrative expenses) 3,967,331 4,851,004 5,795,462 282,173 1,164,130 Benefit payments (4,548,873) (4,125,431) (3,877,650) (3,532,833) (3,412,481) Plan to plan resources 132 (140) (1,724) 394 -
Other (258,000) (43,264) (76,926) (32,095) (59,277)
Net change in plan fiduciary net position 3,722,079 2,784,705 4,997,878 (559,193) 1,314 Plan fiduciary net position - beginning 57,100,351 60,822,430 52,102,473 52,661,666 52,660,352 Plan fiduciary net position - ending (b) $ 60,822,430 63,607,135 $ 57,100,351 $ 52,102,473 $ 52,661,666 $ Net pension liability - ending (a)-(b) $ 27,182,143 29,422,850 $ 26,578,509 $ 22,230,160 $ 17,956,861 $ Plan fiduciary net position as a percentage
of the total pension liability 68.37% 69.11% 68.24% 70.09% 74.57% Covered payroll $ 12,035,942 11,058,515 $ 10,240,349 $ 9,298,593 $ 8,909,327 $ Net pension liability as a percentage of
covered payroll 266.07% 225.84% 259.55% 239.07% 201.55% Miscellaneous Plan
Last Ten Years
City of Madera
Required Supplementary Information (Unaudited) (Continued) Schedule of the City’s Proportionate Share of the Net Pension Liability and Related Ratios For the Year Ended June 30, 2025
134
Measurement period, year ended 6/30/2024 6/30/2023 6/30/2022 6/30/2021 6/30/2020 Plan's proportion of the net pension liability 0.328170% 0.369840% 0.343440% 0.390215% 0.318266% Plan's proportionate share of the net pension liability 23, $ 926,654 $ 24,775,912 $ 23,599,525 $ 13,694,549 $ 21,203,994 Plan's covered payroll $ 5,303,294 5,462,393 $ 5,148,829 $ 4,998,863 $ 4,853,265 $ Plan's proportionate share of the net pension liability as a percentage of covered payroll 438.03% 467.18% 458.35% 273.95% 436.90% Plan's fiduciary net position 59,842,272 $ 54,670,892 $ 53,677,069 $ 58,522,823 $ 48,543,855 $ Plan's fiduciary net position as a percentage of the
total pension liability 71.44% 68.81% 69.46% 81.04% 69.60% Plan's proportionate share of aggregate
employer contributions 3,093,988 $ 3,202,253 $ 3,055,010 $ 2,879,830 $ 2,464,699 $ Measurement period, year ended 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 Plan's proportion of the net pension liability 0.317253% 0.319144% 0.314800% 0.324000% 0.340000% Plan's proportionate share of the net pension liability 19, $ 18,725,928 804,633 $ 18,807,385 $ 16,778,473 $ 14,009,122 $ Plan's covered payroll $ 4,574,668 4,711,908 $ 4,428,574 $ 4,211,168 $ 3,797,547 $ Plan's proportionate share of the net pension liability as a percentage of covered payroll 420.31% 409.34% 424.68% 398.43% 368.90% Plan's fiduciary net position 48,056,036 $ 44,837,253 $ 41,761,897 $ 37,574,019 $ 38,216,008 $ Plan's fiduciary net position as a percentage of the
total pension liability 70.82% 44.92% 44.75% 46.68% 53.15% Plan's proportionate share of aggregate
employer contributions 2,197,168 $ 1,942,249 $ 1,806,992 $ 1,650,502 $ 1,388,656 $ Safety Plan
Last Ten Years
City of Madera
Required Supplementary Information (Unaudited) (Continued) Schedule of the City’s Proportionate Share of the Net Pension Liability and Related Ratios For the Year Ended June 30, 2025
135
Measurement period, year ended 6/30/2024 6/30/2023 6/30/2022 6/30/2021 6/30/2020 Plan's proportion of the net pension liability 0.084642% 0.082836% 0.086162% 0.132600% 0.084600% Plan's proportionate share of the net pension liability 4,093,808 $ $ 4,142,152 $ 4,031,725 $ 2,517,018 $ 3,389,295 Plan's covered payroll $ 1,004,364 $ 1,074,450 $ 941,461 $ 1,191,513 $ 1,280,623 Plan's proportionate share of the net pension liability as a percentage of covered payroll 407.60% 412.42% 428.24% 211.25% 264.66% Plan's fiduciary net position 8,010,144 $ 7,606,176 $ 7,800,039 $ 8,922,694 $ 7,134,083 $ Plan's fiduciary net position as a percentage of the
total pension liability 51.11% 54.46% 51.69% 28.21% 47.51% Plan's proportionate share of aggregate
employer contributions 362,375 $ 331,109 $ 336,461 $ 302,136 $ 268,409 $ 1 Information only presented from the implementation year.

Measurement period, year ended 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 Plan's proportion of the net pension liability 0.084400% 0.082100% 0.082800% 0.088100% 0.078600% Plan's proportionate share of the net pension liability 3,179,336 $ 3,235,424 $ 2,875,227 $ 2,416,697 $ 1,966,014 $ Plan's covered payroll 1,270,009 $ 1,140,725 $ 1,043,730 $ 982,585 $ 1,108,052 $ Plan's proportionate share of the net pension liability as a percentage of covered payroll 250.34% 283.63% 275.48% 245.95% 177.43% Plan's fiduciary net position 6,579,986 $ 5,930,422 $ 6,264,351 $ 6,281,657 $ 5,399,644 $ Plan's fiduciary net position as a percentage of the
total pension liability 48.32% 54.56% 45.90% 38.47% 36.41% Plan's proportionate share of aggregate
employer contributions 238,140 $ 257,128 $ 203,184 $ 239,779 $ 232,795 $ Component Unit - Miscellaneous Plan
Last Ten Years
City of Madera
Required Supplementary Information (Unaudited) (Continued) Schedule of Contributions – Pension
For the Year Ended June 30, 2025
136
Fiscal Year: 2024-25 2023-24 2022-23 2021-22 2020-21
Contractually determined contribution (actuarially determined) 4,084,391 $ $ 3,775,033 $ 3,617,848 $ 3,270,441 $ 3,088,563 Contributions in relation to the actuarially determined contributions (4,084,391) (3,775,033) (3,617,848) (3,270,441) (3,088,563) Contribution deficiency (excess) $ - - $ - $ - $ - $
Covered payroll 10,740,813 $ 10,427,973 $ 10,124,246 $ 9,829,365 $ 9,543,073 $ Contributions as a percentage of covered payroll 38.03% 36.20% 35.73% 33.27% 32.36% Fiscal Year: 2019-20 2018-19 2017-18 2016-17 2015-16
Contractually determined contribution (actuarially determined) 2,776,816 $ 2,610,704 $ 2,395,891 $ 2,329,046 $ 1,948,033 $ Contributions in relation to the actuarially determined contributions (2,776,816) (2,610,704) (2,395,891) (2,329,046) (1,948,033) Contribution deficiency (excess) $ - - $ - $ - $ - $
Covered payroll 10,054,641 $ 11,058,515 $ 12,035,942 $ 10,240,349 $ 9,298,593 $ Contributions as a percentage of covered payroll 27.62% 23.61% 19.91% 22.74% 20.95% Notes to Schedule:

Methods and assumptions used to determine contribution rates for the fiscal year ended June 30, 2025:

Actuarial cost method Entry Age Actuarial Cost Method
Amortization method/period Level percentage of payroll
Asset valuation method Fair Market Value
Inflation 2.30%
Salary increases Varies by entry age and service
Payroll growth 2.80%
Investment rate of return 6.80% net of pension plan investment and administrative expenses.

Retirement age
Mortality
The actuarial methods and assumption used to set the actuarially determined contributions for Fiscal Year 2025 were derived from the June 30, 2022 funding valuation report.

The probabilities of retirement are based on the 2021 CalPERS Experience Study for the period from 2000 and 2019.

The probabilities of mortality are based on the 2021 experience study report. The mortality table 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.

Miscellaneous Plan
Last Ten Years
City of Madera
Required Supplementary Information (Unaudited) (Continued) Schedule of Contributions – Pension (Continued)
For the Year Ended June 30, 2025
137
Fiscal Year: 2024-25 2023-24 2022-23 2021-22 2020-21
Contractually determined contribution (actuarially determined) 2,919,610 $ $ 3,093,988 $ 3,202,253 $ 3,055,010 $ 2,879,830 Contributions in relation to the actuarially determined contributions (2,919,610) (3,093,988) (3,202,253) (3,055,010) (2,879,830) Contribution deficiency (excess) $ - $ - $ - $ - $ -
Covered payroll $ 5,626,265 $ 5,462,393 $ 5,303,294 $ 5,148,829 $ 4,998,863 Contributions as a percentage of covered payroll 51.89% 56.64% 60.38% 59.33% 57.61% Fiscal Year: 2019-20 2018-19 2017-18 2016-17 2015-16
Contractually determined contribution (actuarially determined) 2,464,699 $ $ 2,197,168 $ 1,942,249 $ 1,806,992 $ 1,650,502 Contributions in relation to the actuarially determined contributions (2,464,699) (2,197,168) (1,942,249) (1,806,992) (1,650,502) Contribution deficiency (excess) $ - $ - $ - $ - $ -
Covered payroll $ 4,853,265 $ 4,711,908 $ 4,574,668 $ 4,428,574 $ 4,211,168 Contributions as a percentage of covered payroll 50.78% 46.63% 42.46% 40.80% 39.19% Notes to Schedule:

Methods and assumptions used to determine contribution rates for the fiscal year ended June 30, 2025:

Retirement age
Mortality
The actuarial methods and assumption used to set the actuarially determined contributions for Fiscal Year 2025 were derived from the June 30, 2022 funding valuation report.

The probabilities of retirement are based on the 2021 CalPERS Experience Study for the period from 2000 and 2019.

Safety Plan
Last Ten Years
City of Madera
Required Supplementary Information (Unaudited) (Continued) Schedule of Contributions – Pension (Continued)
For the Year Ended June 30, 2025
138
Fiscal Year: 2023-24 2022-23 2021-22 2020-21 2019-20
Contractually determined contribution (actuarially determined) $ 317,973 $ 362,375 $ 331,109 $ 336,461 $ 302,136 Contributions in relation to the actuarially determined contributions (317,973) (362,375) (331,109) (336,461) (302,136) Contribution deficiency (excess) $ - $ - $ - $ - $ -
Covered payroll $ 1,004,364 $ 1,074,450 $ 941,461 $ 1,191,513 $ 1,280,623 Contributions as a percentage of covered payroll 31.66% 2.16% 35.17% 28.24% 23.59% Fiscal Year: 2018-19 2017-18 2016-17 2015-16 2014-15
Contractually determined contribution (actuarially determined) $ 268,409 $ 238,140 $ 257,128 $ 203,184 $ 239,779 Contributions in relation to the actuarially determined contributions (268,409) (238,140) (257,128) (203,184) (239,779) Contribution deficiency (excess) $ - $ - $ - $ - $ -
Covered payroll $ 1,270,009 $ 1,140,725 $ 1,043,730 $ 982,585 $ 1,108,052 Contributions as a percentage of covered payroll 21.13% 20.88% 24.64% 20.68% 21.64% Notes to Schedule:

Methods and assumptions used to determine contribution rates for the fiscal year ended June 30, 2025:

Retirement age
Mortality
The actuarial methods and assumption used to set the actuarially determined contributions for Fiscal Year 2025 were derived from the June 30, 2022 funding valuation report.

The probabilities of retirement are based on the 2021 CalPERS Experience Study for the period from 2000 and 2019.

Component Unit - Miscellaneous Plan
Last Ten Years
City of Madera
Required Supplementary Information (Unaudited) (Continued) Schedule of Changes in Total OPEB Liability and Related Ratios For the Year Ended June 30, 2025
139
Measurement period, year ending: 6/30/2024 6/30/2023 6/30/2022 6/30/2021 6/30/2020 6/30/2019 6/30/2018 Total OPEB liability
Service cost $ 399,638 $ 311,082 $ 266,779 $ 188,828 $ 159,827 $ 148,304 $ 196,158 Interest 196,481 177,365 84,763 95,919 104,757 110,666 97,813 Changes of benefit terms - (179,263) - - - (219,769) -
Differences between expected and actual experience (295,514) 416,211 - 156,277 - 74,529 - Changes of assumptions 151,386 (87,924) (99,963) 255,972 263,250 183,321 (254,393) Benefit payments, including
refunds of member contributions (275,384) (137,066) (145,380) (92,662) (196,273) (132,070) (89,635) Net change in total OPEB liability 263,457 176,607 343,147 448,057 487,838 310,221 (195,297) Total OPEB liability - beginning 4,563,470 4,826,927 4,220,323 3,772,266 3,284,428 2,974,207 3,169,504 Total OPEB liability - ending (a) $ 4,826,927 5,003,534 $ 4,563,470 $ 4,220,323 $ 3,772,266 $ 3,284,428 $ 2,974,207 $ OPEB fiduciary net position2
Contributions - employer $ 275,384 $ 137,066 $ 145,380 $ 92,662 $ 196,273 $ 132,070 $ 89,635 Net investment income - - - - - - -
Benefit payments, including
refunds of member contributions (275,384) (137,066) (145,380) (92,662) (196,273) (132,070) (89,635) Administrative expense - - - - - - -
Net change in plan fiduciary net position - - - - - - - Plan fiduciary net position - beginning - - - - - - -
Plan fiduciary net position - ending (b) $ - - $ - $ - $ - $ - $ - $ Plan net OPEB liability - ending (a) - (b) $ 4,826,927 5,003,534 $ 4,563,470 $ 4,220,323 $ 3,772,266 $ 3,284,428 $ 2,974,207 $ Plan fiduciary net position as
a percentage of the total OPEB liability 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Covered-employee payroll $ 15,951,498 17,907,652 $ 11,444,154 $ 11,110,829 $ 10,787,213 $ 13,763,983 $ 13,752,967 $ Plan net OPEB liability as
a percentage of covered-employee payroll 27.94% 30.26% 39.88% 37.98% 34.97% 23.86% 21.63% 1 Information only presented from the implementation year. 2 The City has no assets accumulated in a trust that meets the requirements of GASB. Therefore no OPEB fiduciary net position balance is noted.

Last Ten Years1
140
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SUPPLEMENTARY INFORMATION
141
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142
Special Revenue Funds:

Special Gas Tax Fund - This fund is used to account for the receipt of gasoline tax revenue paid to the City as a subvention from the State of California. These funds support maintenance activities and finance street construction projects as provided by State law.

Business Improvement District Fund - This fund is used to account for the City's efforts of the Business Improvement District (BID) to promote commerce in downtown Madera. The funding source is assessment fees.

Park Development Fund - This fund is used for park land acquisition and development. Principal revenue sources are parks acquisition and development fees collected from developers and state revenues for park development.

Parking District Fund - This fund is used to support the activities of the City's Parking Enforcement Office. Nonsworn officers patrol a designated area in Madera's downtown and issue citations to motorists who violate the City's vehicle ordinances.

Federal Aid Urban Fund - This fund is used to report various federal grants awarded to the City by the Federal government not otherwise accounted for in the General Fund or Capital Projects funds. A separate detailed report by program is available which meets the criteria of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, for all federal grants received by the City.

Street Construction Fund - This fund is used to account for right-of-way acquisition, construction, and improvements related to the City's street system. These projects are funded by various state and federal programs and matching City funds.

Landscape Assessment Fund - This fund is used to account for funds received from the landscaping assessment districts to provide for alternative sources of funding for maintenance and service of landscaping located within the public areas of the assessment districts.

Supplemental Law Enforcement Fund - This fund is used to account for revenues and expenditures associated with front line law enforcement and municipal police services. The funding source is state grant funding.

Intermodal Building Fund - This fund is used to account for the operation and maintenance of the intermodal building facility for use by the City and its tenants. The Intermodal Facility currently houses the MAX system, the Greyhound Bus terminal, and Madera Cab Co. This facility relies solely on grants and rents collected to fund its operations, and therefore does not impact the General Fund budget. The Intermodal Building Fund was consolidated with the local transit enterprise fund during the year ending June 30, 2025.

Economic Development Fund - This fund is used to account for revenues and expenditures related to programs and projects funded with Economic Development grant proceeds.

Residential Rehab Fund - This fund is used to account for revenues and expenditures related to the City's Down Payment Assistance Program (DAP) which assists low-income residents with purchasing their first homes and the Owner Occupied Rehabilitation (OOR) program that helps existing low-income homeowners make health and safety repairs to their homes.

Non-Major Governmental Funds
143
Special Revenue Funds (Continued):

Low and Moderate Income Housing Fund - This fund is used to account for the balances of the former low and moderate income housing funds of the former Madera Redevelopment Agency and revenues and expenditures related to such housing projects and programs.

Community Facilities Districts (CFD) Fund - This fund is used to account for bond and annual tax assessment proceeds to be used for the construction and implementation of off-site infrastructure improvements. In addition, the Fund accounts for services and administration of assessments received annually.

SB-1186 ADA Fund - This fund is used to account for the revenues and expenditures related to the City's SB-1186 ADA collections and disbursements.

Opioid Settlement Fund - This fund is used to account for the revenues and expenditures related to the City's share of the Opioid Settlements.

Capital Projects Funds:

Solar Energy Lease Capital Projects Fund - This fund accounts for the construction of the Solar Energy Lease Purchase projects. These projects are funded by the Solar Energy Lease Purchase debt obligations.

Streets and Roads Fund - This fund is used to account for right-of-way acquisition, construction, and improvements related to the City's street system. These projects are funded by various state and federal programs and matching City funds.

Non-Major Governmental Funds (Continued)
144
Special Business
Gas Tax Improvement Park Parking
Fund District Development District
ASSETS
Cash and investments 5,132,365 $ 5,026 $ 207,970 $ 106,956 $ Restricted cash and investments - - - -
Accounts receivable, net - 14,238 - 17,023
Intergovernmental receivable 1,719,579 - 4,332 -
Notes receivable - - - -
Prepaid items - - - -
Land held for resale - - - -
Total assets $ 19,264 6,851,944 $ 212,302 $ 123,979 $

LIABILITIES AND

FUND BALANCES
Liabilities:

Accounts payable - $ - $ 46,516 $ 584 $
Accrued payroll - - 1,293 138
Due to other funds - - - -
Deposits payable - - - -
Unearned revenues - - - -
Total liabilities - - 47,809 722
Fund Balances:

Nonspendable - - - -
Restricted 6,851,944 19,264 164,493 123,257
Unassigned (deficit) - - - -
Total fund balances (deficit) 19,264 6,851,944 164,493 123,257 Total liabilities and fund balances $ 6,851,944 $ 19,264 $ 212,302 $ 123,979 (Continued)
Special Revenue
Non-Major Governmental Funds
City of Madera
Combining Balance Sheet
June 30, 2025
145
Supplemental
Federal Aid Street Landscape Law
Urban Construction Assessment Enforcement
ASSETS
Cash and investments - $ - $ 678,767 $ 952,275 $
Restricted cash and investments - - - -
Accounts receivable, net - - - 56
Intergovernmental receivable 183,947 1,405,118 6,340 51,394 Notes receivable - - - -
Prepaid items - 13,910 - 2,778
Land held for resale - - - -
Total assets $ 1,419,028 183,947 $ 685,107 $ 1,006,503 $

LIABILITIES AND

FUND BALANCES
Liabilities:

Accounts payable 349 $ 390,748 $ 730 $ 58,740 $
Accrued payroll - - - 16,666
Due to other funds 88,454 525,441 - -
Deposits payable - - - -
Unearned revenues - - - -
Total liabilities 916,189 88,803 730 75,406
Fund Balances:

Nonspendable - 13,910 - 2,778
Restricted 95,144 488,929 684,377 928,319
Unassigned (deficit) - - - -
Total fund balances (deficit) 502,839 95,144 684,377 931,097 Total liabilities and fund balances $ 183,947 $ 1,419,028 $ 685,107 $ 1,006,503 (Continued)
Special Revenue
City of Madera
Combining Balance Sheet (Continued)
Non-Major Governmental Funds
June 30, 2025
146
Low and
Moderate
Intermodal Economic Residential Income
Building Development Rehab Housing
ASSETS
Cash and investments $ 1,511,219 - $ $ 1,666,619 $ 261,643 Restricted cash and investments - - - -
Accounts receivable, net - - 14,664 2,675
Intergovernmental receivable - - - -
Notes receivable - 7,996,577 - 7,000
Prepaid items - - 2,720 -
Land held for resale - - - 670,000
Total assets $ 1,511,219 - $ $ 9,680,580 $ 941,318

LIABILITIES AND

FUND BALANCES
Liabilities:

Accounts payable $ - $ - $ 10,345 $ 225,961
Accrued payroll - - 189 -
Due to other funds - - - -
Deposits payable - - - 74
Unearned revenues - - - -
Total liabilities - - 10,534 226,035
Fund Balances:

Nonspendable - - 2,720 -
Restricted 1,511,219 - 9,667,326 715,283
Unassigned (deficit) - - - -
Total fund balances (deficit) 1,511,219 - 9,670,046 715,283 Total liabilities and fund balances $ 1,511,219 - $ $ 9,680,580 $ 941,318 (Continued)
Special Revenue
City of Madera
Combining Balance Sheet (Continued)
Non-Major Governmental Funds
June 30, 2025
147
Capital Projects
Community Opioid
Facilities SB-1186 Settlement Solar Energy
Districts Fund Fund Lease
ASSETS
Cash and investments $ 3,528,224 $ 18,497 $ 257,132 $ - Restricted cash and investments - - 2,517,025 -
Accounts receivable, net - 4,243 - -
Intergovernmental receivable 6,577 - - -
Notes receivable - - - -
Prepaid items - - - -
Land held for resale - - - -
Total assets $ 3,534,801 $ 22,740 $ 257,132 $ 2,517,025

LIABILITIES AND

FUND BALANCES
Liabilities:

Accounts payable $ - $ - $ - $ -
Accrued payroll - - - -
Due to other funds - - 1,999,040 -
Deposits payable - - - -
Unearned revenues 76,516 - 121,000 -
Total liabilities 76,516 - 121,000 1,999,040
Fund Balances:

Nonspendable - - - -
Restricted 3,458,285 22,740 136,132 517,985
Unassigned (deficit) - - - -
Total fund balances (deficit) 3,458,285 22,740 136,132 517,985 Total liabilities and fund balances $ 3,534,801 $ 22,740 $ 257,132 $ 2,517,025 (Continued)
Special Revenue
City of Madera
Combining Balance Sheet (Continued)
Non-Major Governmental Funds
June 30, 2025
148
Capital Projects
Total Other
Streets and Governmental
Roads Funds
ASSETS
Cash and investments $ 4,028 $ 14,330,721
Restricted cash and investments 2,517,025 -
Accounts receivable, net - 52,899
Intergovernmental receivable 3,377,287 -
Notes receivable 8,003,577 -
Prepaid items - 19,408
Land held for resale - 670,000
Total assets $ 4,028 $ 28,970,917

LIABILITIES AND

FUND BALANCES
Liabilities:

Accounts payable $ - $ 733,973
Accrued payroll - 18,286
Due to other funds 2,612,935 -
Deposits payable - 74
Unearned revenues - 197,516
Total liabilities 3,562,784 -
Fund Balances:

Nonspendable - 19,408
Restricted 4,028 25,388,725
Unassigned (deficit) - -
Total fund balances (deficit) 4,028 25,408,133
Total liabilities and fund balances $ 4,028 $ 28,970,917 (Concluded)
City of Madera
Combining Balance Sheet (Continued)
Non-Major Governmental Funds
June 30, 2025
149
Special Business
Gas Tax Improvement Park Parking
Fund District Development District
REVENUES:

Property taxes - $ - $ - $ - $
Other taxes - - - -
Investment income (loss) - - - -
Fines and forfeitures - - - 5,250
Intergovernmental 5,488,746 - 722,083 -
Charges for services - 14,196 - 12,125
Miscellaneous - - 99,234 3,324
Total revenues 14,196 5,488,746 821,317 20,699
EXPENDITURES:

Current:

General government - 17,150 - -
Public protection - - - -
Public ways and facilities 419,504 - - -
Community development - - - 24,458
Culture and recreation - - 109,371 -
Capital outlay 1,428,513 - 95,994 -
Debt service:

Principal - - - -
Interest and fiscal charges - - - -
Total expenditures 17,150 1,848,017 205,365 24,458

REVENUES OVER
(UNDER) EXPENDITURES (2,954) 3,640,729 615,952 (3,759)
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out (1,808,414) - - (4,857)
Total other financing sources (uses) (1,808,414) - - (4,857) NET CHANGES IN FUND BALANCES 1,832,315 (2,954) 615,952 (8,616) FUND BALANCES (DEFICIT):

Beginning of year 5,019,629 22,218 (451,459) 131,873
End of year $ 6,851,944 $ 19,264 $ 164,493 $ 123,257
(Continued)
Special Revenue
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances City of Madera
For the Year Ended June 30, 2025
Non-Major Governmental Funds
150
Supplemental
Federal Aid Street Landscape Law
Urban Construction Assessment Enforcement
REVENUES:

Property taxes - $ - $ - $ - $
Other taxes - - 473,603 -
Investment income (loss) - - - 25,447
Fines and forfeitures - - - -
Intergovernmental 327,925 1,699,129 - 819,189
Charges for services - - - 391,062
Miscellaneous - - - 131,312
Total revenues 1,699,129 327,925 473,603 1,367,010
EXPENDITURES:

Current:

General government - - - -
Public protection - - - 1,781,442
Public ways and facilities - 27,567 489,773 -
Community development - - - -
Culture and recreation - - - -
Capital outlay 35,203 1,001,247 - 167,498
Debt service:

Principal - - - -
Interest and fiscal charges - - - -
Total expenditures 1,028,814 35,203 489,773 1,948,940

REVENUES OVER
(UNDER) EXPENDITURES 670,315 292,722 (16,170) (581,930) OTHER FINANCING SOURCES (USES):

Transfers in - - 158,459 433,744
Transfers out - (598,800) (3,662) (300,000)
Total other financing sources (uses) - (598,800) 154,797 133,744 NET CHANGES IN FUND BALANCES 292,722 71,515 138,627 (448,186) FUND BALANCES (DEFICIT):

Beginning of year (197,578) 431,324 545,750 1,379,283
End of year $ 95,144 $ 502,839 $ 684,377 $ 931,097
(Continued)
City of Madera
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Non-Major Governmental Funds
For the Year Ended June 30, 2025
Special Revenue
151
Low and
Moderate
Intermodal Economic Residential Income
Building Development Rehab Housing
REVENUES:

Property taxes $ - $ - $ - $ -
Other taxes - - - -
Investment income (loss) - 68,716 197,011 -
Fines and forfeitures - - - -
Intergovernmental - - - 466,782
Charges for services - - 8,724 -
Miscellaneous - - 1,889 -
Total revenues - 68,716 207,624 466,782
EXPENDITURES:

Current:

General government - - - -
Public protection - - - -
Public ways and facilities - - - -
Community development - - 198,240 -
Culture and recreation - - - -
Capital outlay - - - 853,987
Debt service:

Principal - - - -
Interest and fiscal charges - - - -
Total expenditures - - 198,240 853,987

REVENUES OVER
(UNDER) EXPENDITURES - 68,716 9,384 (387,205)
OTHER FINANCING SOURCES (USES):

Transfers in - - 131,107 -
Transfers out (52,758) - - -
Total other financing sources (uses) (52,758) - 131,107 - NET CHANGES IN FUND BALANCES (52,758) 68,716 140,491 (387,205) FUND BALANCES (DEFICIT):

Beginning of year 52,758 1,442,503 9,529,555 1,102,488
End of year $ 1,511,219 - $ $ 9,670,046 $ 715,283
(Continued)
Special Revenue
City of Madera
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Non-Major Governmental Funds
For the Year Ended June 30, 2025
152
Capital Projects
Community Opioid
Facilities SB-1186 Settlement Solar Energy
Districts Fund Fund Lease
REVENUES:

Property taxes $ 1,179,511 $ - $ - $ -
Other taxes - - - -
Investment income (loss) 117,379 - 10,662 -
Fines and forfeitures - - - -
Intergovernmental - - 195,470 -
Charges for services - 13,716 - -
Miscellaneous - - - -
Total revenues 1,296,890 13,716 206,132 -
EXPENDITURES:

Current:

General government 8,828 - - -
Public protection - - - -
Public ways and facilities - 1,355 - -
Community development - - - -
Culture and recreation - - - -
Capital outlay - - - 153,554
Debt service:

Principal - - - 856,000
Interest and fiscal charges - - - 459,072
Total expenditures 8,828 1,355 1,468,626 -

REVENUES OVER
(UNDER) EXPENDITURES 1,288,062 12,361 206,132 (1,468,626) OTHER FINANCING SOURCES (USES):

Transfers in - - 2,661,070 -
Transfers out (316,440) - (70,000) -
Total other financing sources (uses) (316,440) - (70,000) 2,661,070 NET CHANGES IN FUND BALANCES 971,622 12,361 136,132 1,192,444 FUND BALANCES (DEFICIT):

Beginning of year 2,486,663 10,379 - (674,459)
End of year $ 3,458,285 $ 22,740 $ 136,132 $ 517,985
(Continued)
City of Madera
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Non-Major Governmental Funds
For the Year Ended June 30, 2025
Special Revenue
153
Capital Projects
Total Other
Streets and Governmental
Roads Funds
REVENUES:

Property taxes $ 1,179,511 - $
Other taxes - 473,603
Investment income (loss) - 419,215
Fines and forfeitures - 5,250
Intergovernmental 9,719,324 -
Charges for services - 439,823
Miscellaneous - 235,759
Total revenues 12,472,485 -
EXPENDITURES:

Current:

General government - 25,978
Public protection 1,781,442 -
Public ways and facilities - 938,199
Community development - 222,698
Culture and recreation - 109,371
Capital outlay 3,735,996 -
Debt service:

Principal - 856,000
Interest and fiscal charges - 459,072
Total expenditures 8,128,756 -

REVENUES OVER
(UNDER) EXPENDITURES 4,343,729 -
OTHER FINANCING SOURCES (USES):

Transfers in 3,384,380 -
Transfers out (3,154,931) -
Total other financing sources (uses) - 229,449
NET CHANGES IN FUND BALANCES 4,573,178 -
FUND BALANCES (DEFICIT):

Beginning of year 4,028 20,834,955
End of year $ 4,028 $ 25,408,133
(Concluded)
City of Madera
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Non-Major Governmental Funds
For the Year Ended June 30, 2025
154
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Intergovernmental $ 7,872,818 $ 7,872,818 $ 5,488,746 $ (2,384,072) Total revenues 7,872,818 7,872,818 5,488,746 (2,384,072) EXPENDITURES:

Current:

Public ways and facilities 690,715 690,715 419,504 271,211 Capital outlay 9,160,089 10,722,567 1,428,513 9,294,054 Total expenditures 9,850,804 11,413,282 1,848,017 9,565,265 REVENUES OVER (UNDER) EXPENDITURES (1,977,986) (3,540,464) 3,640,729 7,181,193 OTHER FINANCING SOURCES (USES):

Transfers in - 4,236,913 - (4,236,913)
Transfers out (1,117,699) (5,354,612) (1,808,414) 3,546,198 Total other financing sources (uses) (1,117,699) (1,117,699) (1,808,414) (690,715) Net change in fund balance $ (3,095,685) $ (4,658,163) 1,832,315 $ 6,490,478 FUND BALANCE:

Beginning of year 5,019,629
End of year $ 6,851,944
City of Madera
Budgetary Comparison Schedule
Special Gas Tax Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
155
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Charges for services 18,217 $ 18,217 $ 14,196 $ (4,021) $ Total revenues 18,217 18,217 14,196 (4,021)
EXPENDITURES:

Current:

General government 18,217 18,217 17,150 1,067
Total expenditures 18,217 18,217 17,150 1,067
Net change in fund balance $ - - $ (2,954) (2,954) $
FUND BALANCE:

Beginning of year 22,218
End of year $ 19,264
Budgeted Amounts
City of Madera
Budgetary Comparison Schedule
Business Improvement District Special Revenue Fund
For the Year Ended June 30, 2025
156
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Intergovernmental $ 4,125,055 $ 4,784,695 $ 722,083 $ (4,062,612) Miscellaneous 62,651 164,204 99,234 (64,970)
Total revenues 4,187,706 4,948,899 821,317 (4,127,582)
EXPENDITURES:

Current:

Culture and recreation $ 1,628,775 $ 1,832,464 $ 109,371 $ 1,723,093 Capital outlay 1,813,936 3,233,009 95,994 3,137,015
Total expenditures 3,442,711 5,065,473 205,365 4,860,108 REVENUES OVER (UNDER) EXPENDITURES 744,995 (116,574) 615,952 732,526 OTHER FINANCING SOURCES (USES):

Transfers in - 659,640 - (659,640)
Total other financing sources (uses) - 659,640 - (659,640) Net change in fund balance $ 744,995 $ 543,066 615,952 $ 72,886 FUND BALANCE (DEFICIT):

Beginning of year (451,459)
End of year $ 164,493
City of Madera
Budgetary Comparison Schedule
Parking Development Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
157
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Fines and forfeitures $ 8,200 $ 8,200 $ 5,250 $ (2,950) Charges for services 17,750 17,750 12,125 (5,625)
Miscellaneous - - 3,324 3,324
Total revenues 25,950 25,950 20,699 (5,251)
EXPENDITURES:

Current:

Community development 33,751 33,909 24,458 9,451
Total expenditures 33,751 33,909 24,458 9,451
REVENUES OVER (UNDER) EXPENDITURES (7,801) (7,959) (3,759) 4,200 OTHER FINANCING SOURCES (USES):

Transfers out (2,223) (2,223) (4,857) (2,634)
Total other financing sources (uses) (2,223) (2,223) (4,857) (2,634) Net change in fund balance $ (10,024) $ (10,182) (8,616) $ 1,566 FUND BALANCE:

Beginning of year 131,873
End of year $ 123,257
City of Madera
Budgetary Comparison Schedule
Parking District Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
158
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Intergovernmental $ 4,333,656 $ 4,333,656 $ 327,925 $ (4,005,731) Total revenues 4,333,656 4,333,656 327,925 (4,005,731)
EXPENDITURES:

Current:

Capital outlay 4,333,656 4,379,688 35,203 4,344,485
Total expenditures 4,333,656 4,379,688 35,203 4,344,485 Net change in fund balance $ - $ (46,032) 292,722 $ 338,754 FUND BALANCE (DEFICIT):

Beginning of year (197,578)
End of year $ 95,144
City of Madera
Budgetary Comparison Schedule
Federal Aid Urban Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
159
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Intergovernmental $ 2,331,538 $ 2,331,538 $ 1,699,129 $ (632,409) Total revenues 2,331,538 2,331,538 1,699,129 (632,409)
EXPENDITURES:

Current:

Public ways and facilities 115,926 145,926 27,567 118,359 Capital outlay 3,708,124 3,768,407 1,001,247 2,767,160
Total expenditures 3,824,050 3,914,333 1,028,814 2,885,519 REVENUES OVER (UNDER) EXPENDITURES (1,492,512) (1,582,795) 670,315 2,253,110 OTHER FINANCING SOURCES (USES):

Transfers out (598,800) (598,800) (598,800) -
Total other financing sources (uses) (598,800) (598,800) (598,800) - Net change in fund balance $ (2,091,312) $ (2,181,595) 71,515 $ 2,253,110 FUND BALANCE (DEFICIT):

Beginning of year 431,324
End of year $ 502,839
City of Madera
Budgetary Comparison Schedule
Street Construction Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
160
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Other taxes $ 487,488 $ 487,488 $ 473,603 $ (13,885)
Miscellaneous 4,828 4,828 - (4,828)
Total revenues 492,316 492,316 473,603 (18,713)
EXPENDITURES:

Current:

Public ways and facilities 803,519 803,519 489,773 313,746 Total expenditures 803,519 803,519 489,773 313,746
REVENUES OVER (UNDER) EXPENDITURES (311,203) (311,203) (16,170) 295,033 OTHER FINANCING SOURCES (USES):

Transfers in 158,459 158,459 158,459 -
Total other financing sources (uses) 158,459 158,459 154,797 (3,662) Net change in fund balance $ (152,744) $ (152,744) 138,627 $ 291,371 FUND BALANCE:

Beginning of year 545,750
End of year $ 684,377
City of Madera
Budgetary Comparison Schedule
Landscape Assessment Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
161
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Investment income (loss) $ - $ - $ 25,447 $ 25,447
Intergovernmental 992,626 1,153,117 819,189 (333,928)
Charges for services 419,203 419,203 391,062 (28,141)
Miscellaneous 148,236 148,236 131,312 (16,924)
Total revenues 1,560,065 1,720,556 1,367,010 (353,546)
EXPENDITURES:

Current:

Public protection 1,875,231 2,016,187 1,781,442 234,745 Capital outlay 439,200 659,524 167,498 492,026
Total expenditures 2,314,431 2,675,711 1,948,940 726,771 REVENUES OVER (UNDER) EXPENDITURES (754,366) (955,155) (581,930) 373,225 OTHER FINANCING SOURCES (USES):

Transfers in 458,997 458,997 433,744 (25,253)
Transfers out (300,000) (300,000) (300,000) -
Total other financing sources (uses) 158,997 158,997 133,744 (25,253) Net change in fund balance $ (595,369) $ (796,158) (448,186) $ 347,972 FUND BALANCE:

Beginning of year 1,379,283
End of year $ 931,097
City of Madera
Budgetary Comparison Schedule
Supplemental Law Enforcement Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
162
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
OTHER FINANCING SOURCES (USES):

Transfers out $ - $ - $ (52,758) $ (52,758)
Total other financing sources (uses) - - (52,758) (52,758) Net change in fund balance $ - $ - (52,758) $ (52,758)
FUND BALANCE:

Beginning of year 52,758
End of year $ -
City of Madera
Budgetary Comparison Schedule
Intermodal Building Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
163
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Investment income (loss) $ 18,958 $ 18,958 $ 68,716 $ 49,758 Total revenues 18,958 18,958 68,716 49,758
EXPENDITURES:

Current:

Community development 2,500 2,500 - 2,500
Capital outlay 156,500 156,500 - 156,500
Total expenditures 159,000 159,000 - 159,000
REVENUES OVER (UNDER) EXPENDITURES (140,042) (140,042) 68,716 208,758 Net change in fund balance $ (140,042) $ (140,042) 68,716 $ 208,758 FUND BALANCE:

Beginning of year 1,442,503
End of year $ 1,511,219
City of Madera
Budgetary Comparison Schedule
Economic Development Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
164
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Investment income (loss) $ 37,000 $ 37,000 $ 197,011 $ 160,011 Intergovernmental 372,065 372,065 - (372,065)
Charges for services 5,000 5,000 8,724 3,724
Miscellaneous 15,000 15,000 1,889 (13,111)
Total revenues 429,065 429,065 207,624 (221,441)
EXPENDITURES:

Current:

Community development 1,278,321 1,278,321 198,240 1,080,081 Total expenditures 1,278,321 1,278,321 198,240 1,080,081 REVENUES OVER (UNDER) EXPENDITURES (849,256) (849,256) 9,384 858,640 OTHER FINANCING SOURCES (USES):

Transfers in 131,107 131,107 131,107 -
Total other financing sources (uses) 131,107 131,107 131,107 - Net change in fund balance $ (718,149) $ (718,149) 140,491 $ 858,640 FUND BALANCE:

Beginning of year 9,529,555
End of year $ 9,670,046
City of Madera
Budgetary Comparison Schedule
Residential Rehab Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
165
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Intergovernmental $ 2,889,428 $ 2,889,428 $ 466,782 $ (2,422,646) Total revenues 2,889,428 2,889,428 466,782 (2,422,646)
EXPENDITURES:

Current:

Community development - 12,000 - 12,000
Capital outlay 2,128,600 2,264,236 853,987 1,410,249
Total expenditures 2,128,600 2,276,236 853,987 1,422,249 Net change in fund balance $ 760,828 $ 613,192 (387,205) $ (1,000,397) FUND BALANCE:

Beginning of year 1,102,488
End of year $ 715,283
City of Madera
Budgetary Comparison Schedule
Low and Moderate Income Housing Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
166
Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Property taxes $ 1,261,146 $ 1,261,146 $ 1,179,511 $ (81,635) Investment income (loss) 29,400 30,400 117,379 86,979
Total revenues 1,290,546 1,291,546 1,296,890 5,344
EXPENDITURES:

Current:

General government 8,403 9,403 8,828 575
Total expenditures 8,403 9,403 8,828 575
REVENUES OVER (UNDER) EXPENDITURES 1,282,143 1,282,143 1,288,062 5,919 OTHER FINANCING SOURCES (USES):

Transfers out (316,440) (316,440) (316,440) -
Total other financing sources (uses) (316,440) (316,440) (316,440) - Net change in fund balance $ 965,703 $ 965,703 971,622 $ 5,919 FUND BALANCE:

Beginning of year 2,486,663
End of year $ 3,458,285
City of Madera
Budgetary Comparison Schedule
Community Facilities District Special Revenue Fund
For the Year Ended June 30, 2025
Budgeted Amounts
167
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168
Non-Major Enterprise Funds
Local Transit Fund - This fund is used to account for the activities of the City's public transit operations.

Golf Course Fund - This fund is used to account for the activities of the City's golf course operations.

Airport Fund - This fund is used to account for the activities of the City's airport operations. 169
Local Golf
Transit Course Airport
Fund Fund Fund Total
ASSETS
Current assets:

Cash and investments $ - $ 2,182,181 - $ $ 2,182,181
Accounts receivable, net 5,498 16,670 4,270 26,438
Intergovernmental receivable 1,596,951 - 42,977 1,639,928 Lease receivable - due within one year - 64,566 42,409 106,975 Prepaid items 1,818 - 10,732 12,550
Total current assets 1,604,267 81,236 2,282,569 3,968,072 Noncurrent assets:

Lease receivable - due in more than one year 129,644 - 793,281 922,925 Capital assets:

Non-depreciable 558,189 146,933 4,242,875 4,947,997
Depreciable, net 7,386,769 1,564,957 6,672,869 15,624,595 Total capital assets 7,944,958 1,711,890 10,915,744 20,572,592 Total noncurrent assets 7,944,958 1,841,534 11,709,025 21,495,517 Total assets 9,549,225 1,922,770 13,991,594 25,463,589

DEFERRED OUTFLOW OF RESOURCES
Related to OPEB - - 5,182 5,182
Related to pensions 143,600 - 43,401 187,001
Total deferred outflow of resources 143,600 - 48,583 192,183

LIABILITIES
Current liabilities:

Accounts payable 403,289 - 6,066 409,355
Accrued payroll 6,777 - 2,316 9,093
Due to other funds 1,005,480 505,124 1,510,604 -
Deposits payable - - 13,500 13,500
Total OPEB liability - due within one year - - 1,202 1,202 Compensated absences - due within one year 29,682 - 374 30,056 Total current liabilities 1,445,228 505,124 23,458 1,973,810 Noncurrent liabilities:

Total OPEB liability - due in more than one year - - 19,999 19,999 Aggregate net pension liability 823,215 248,808 - 1,072,023 Compensated absences - due in more than one year 28,069 - 1,378 29,447 Total noncurrent liabilities 851,284 270,185 - 1,121,469 Total liabilities 2,296,512 505,124 293,643 3,095,279

DEFERRED INFLOWS OF RESOURCES
Related to leases 193,743 - 807,809 1,001,552
Related to OPEB - - 1,903 1,903
Total deferred inflows of resources 193,743 - 809,712 1,003,455

NET POSITION
Net investment in capital assets 7,944,958 1,711,890 10,915,744 20,572,592 Unrestricted (deficit) (548,645) (487,987) 2,021,078 984,446 Total net position $ 1,223,903 7,396,313 $ 12,936,822 $ 21,557,038 $ City of Madera
Combining Statement of Net Position
Non-Major Enterprise Funds
June 30, 2025
170
Local Golf
Transit Course Airport
Fund Fund Fund Total
OPERATING REVENUES:

Charges for services $ 2,739,217 $ 175,906 $ 325,468 $ 3,240,591 Miscellaneous revenue 23,701 220,694 - 244,395
Total operating revenues 2,762,918 175,906 546,162 3,484,986 OPERATING EXPENSES:

Salaries and benefits 469,617 160,111 - 629,728
General and administrative 2,456,353 84,100 297,817 2,838,270 Supplies and miscellaneous 298,224 22,156 38,686 359,066 Utilities 17,747 - 12,228 29,975
Depreciation 514,351 167,906 297,675 979,932
Total operating expenses 3,756,292 274,162 806,517 4,836,971 OPERATING INCOME (LOSS) (993,374) (98,256) (260,355) (1,351,985) NONOPERATING REVENUES (EXPENSES):

Investment income (loss) 5,684 603 106,532 112,819
Property taxes - 203,503 - 203,503
Operating grants 648,454 - 648,454 -
Total nonoperating revenues (expenses) 654,138 603 310,035 964,776

INCOME (LOSS) BEFORE CAPITAL
CONTRIBUTIONS AND TRANSFERS (339,236) (97,653) 49,680 (387,209)

CAPITAL CONTRIBUTIONS AND TRANSFERS
Capital contributions 95,233 50,000 145,233 -
Capital grants 26,141 - 36,260 62,401
Transfers in 52,758 - 13,281 66,039
Transfers out (79,952) - (73,549) (153,501)
Total capital contributions and transfers 94,180 50,000 (24,008) 120,172 Changes in net position (245,056) (47,653) 25,672 (267,037) NET POSITION:

Beginning of year, as restated (Note 19) 7,641,369 1,271,556 12,911,150 21,824,075 End of year $ 7,396,313 $ 1,223,903 $ 12,936,822 $ 21,557,038 City of Madera
Combining Statement of Revenues, Expenses, and Changes in Net Position Non-Major Enterprise Funds
For the Year Ended June 30, 2025
171
Local Golf
Transit Course Airport
Fund Fund Fund Total
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers $ 2,739,298 $ 175,722 $ 348,201 $ 3,263,221 Cash payments to suppliers for goods and services (151,554) (2,577,258) (350,729) (3,079,541) Cash payments to employees for services (575,901) - (183,750) (759,651) Receipts from other operating revenues 23,701 - 220,694 244,395 Net cash provided by (used in) operating activities 24,168 (390,160) 34,416 (331,576)

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Operating grants 653,946 - - 653,946
Property taxes - - 203,503 203,503
Due to other funds (243,592) 13,044 - (230,548)
Transfers from other funds 52,758 - 13,281 66,039
Transfers to other funds (79,952) - (73,549) (153,501)
Net cash provided by (used in)
noncapital financing activities 13,044 383,160 143,235 539,439

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Capital grants 26,141 50,000 59,825 135,966
Acquisition of capital assets (24,825) (87,815) (90,532) (203,172) Net cash provided by (used in) capital and
related financing activities (37,815) 1,316 (30,707) (67,206) CASH FLOWS FROM INVESTING ACTIVITIES:

Interest from investments 5,684 603 106,532 112,819
Net cash provided by investing activities 603 5,684 106,532 112,819 Net change in cash and cash equivalents - - 253,476 253,476 CASH AND CASH EQUIVALENTS:

Beginning of year - 1,928,705 - 1,928,705
End of year $ - $ 2,182,181 - $ $ 2,182,181
(Continued)
City of Madera
Combining Statement of Cash Flows
Non-Major Enterprise Funds
For the Year Ended June 30, 2025
172
Local Golf
Transit Course Airport
Fund Fund Fund Total

RECONCILIATION OF OPERATING INCOME (LOSS) TO
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:

Operating income (loss) $ (993,374) $ (98,256) $ (260,355) $ (1,351,985) Adjustments to reconcile operating income (loss) to net cash provided by (used in) operating activities:

Depreciation 514,351 167,906 297,675 979,932
Changes in operating assets and liabilities, and
deferred outflows and inflows of resources:

Accounts receivable, net 81 - 30,193 30,274
Lease receivable - 64,397 (13,528) 50,869
Prepaid items (1,818) 2 (2,294) (4,110)
Deferred outflows - OPEB related - - (523) (523)
Deferred outflows - pension related 102,460 - 24,077 126,537 Accounts payable 196,884 (45,300) 296 151,880
Accrued payroll 1,354 - 1,404 2,758
Deposits payable - - 29 29
Compensated absences 986 (14,801) - (13,815)
Aggregate net pension liability (207,643) (33,887) - (241,530) Total OPEB liability - - 123 123
Deferred inflows - lease related (64,581) - 6,039 (58,542) Deferred inflows - OPEB related - - 911 911
Deferred inflows - pension related (3,441) - (943) (4,384) Total adjustments 603,214 122,424 294,771 1,020,409
Net cash provided by (used in) operating activities $ (390,160) $ 24,168 $ 34,416 $ (331,576) NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:

Contributed property, plant and equipment $ 95,233 $ - $ - $ 95,233 Total noncash capital and related financing activities $ 95,233 $ - $ - $ 95,233 (Concluded)
For the Year Ended June 30, 2025
City of Madera
Combining Statement of Cash Flows (Continued)
Non-Major Enterprise Funds
173
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174
Internal Service Funds
Fleet Maintenance Fund - This fund is used to account for the accumulation and allocation of costs associated with the maintenance of the City's fleet of vehicles.

Facilities Maintenance Fund - This fund is used to account for the accumulation and allocation of costs associated with the maintenance of the City Hall building and other City buildings.

Technology Fund - This fund is used to account for the costs associated with automation maintenance of the City's various computers, servers and interdepartmental electronic communications. 175
Fleet Facilities
Maintenance Maintenance Technology Total
ASSETS
Current assets:

Cash and investments $ 4,229,285 $ 1,485,645 $ 859,833 $ 6,574,763 Accounts receivable, net 7,990 50 35,085 43,125
Prepaid items 8 12 183,348 183,368
Total current assets 4,237,283 1,485,707 1,078,266 6,801,256 Noncurrent assets:

Capital assets:

Non-depreciable 300,157 - - 300,157
Depreciable, net 5,774,221 13,494 501,918 6,289,633
Total capital assets 6,074,378 13,494 501,918 6,589,790 Total noncurrent assets 6,074,378 13,494 501,918 6,589,790 Total assets 10,311,661 1,499,201 1,580,184 13,391,046

DEFERRED OUTFLOW OF RESOURCES
Related to OPEB 31,091 25,909 15,545 72,545
Related to pensions 127,525 221,830 173,606 522,961
Total deferred outflow of resources 158,616 247,739 189,151 595,506

LIABILITIES
Current liabilities:

Accounts payable 44,488 73,443 30,180 148,111
Accrued payroll 3,710 6,904 4,924 15,538
Total OPEB liability - due within one year 7,211 6,009 3,606 16,826 Compensated absences - due within one year 23,031 34,045 28,357 85,433 Total current liabilities 78,440 120,401 67,067 265,908 Noncurrent liabilities:

Total OPEB liability - due in more than one year 119,997 99,998 59,998 279,993 Aggregate net pension liability 731,063 1,271,682 995,230 2,997,975 Compensated absences - due in more than one year 60,276 62,018 18,674 140,968 Total noncurrent liabilities 911,336 1,433,698 1,073,902 3,418,936 Total liabilities 989,776 1,554,099 1,140,969 3,684,844

DEFERRED INFLOWS OF RESOURCES
Related to OPEB 11,417 9,514 5,708 26,639
Total deferred inflows of resources 11,417 9,514 5,708 26,639

NET POSITION
Investment in capital assets 6,074,378 13,494 501,918 6,589,790 Unrestricted 3,394,706 169,833 120,740 3,685,279
Total net position $ 183,327 9,469,084 $ 622,658 $ 10,275,069 $ City of Madera
Combining Statement of Net Position
All Internal Service Funds
June 30, 2025
176
Fleet Facilities
Maintenance Maintenance Technology Total
OPERATING REVENUES:

Charges for services $ 2,575,460 $ 2,161,395 $ 1,548,780 $ 6,285,635 Miscellaneous revenue 30,023 407,422 - 437,445
Total operating revenues 2,605,483 2,568,817 1,548,780 6,723,080 OPERATING EXPENSES:

Salaries and benefits 347,237 459,848 624,588 1,431,673 General and administrative 413,522 367,159 308,331 1,089,012 Supplies and miscellaneous 101,678 174,423 226,372 502,473 Utilities 224 561,694 2,259 564,177
Depreciation and amortization 654,679 1,912 195,863 852,454 Total operating expenses 1,517,340 1,565,036 1,357,413 4,439,789 OPERATING INCOME 1,088,143 1,003,781 191,367 2,283,291
NONOPERATING REVENUES (EXPENSES):

Investment income 167,411 56,410 34,262 258,083
Gain (loss) on disposal of property - - (2,604) (2,604) Interest expense - - (1,756) (1,756)
Total nonoperating revenues (expenses) 167,411 56,410 29,902 253,723

INCOME (LOSS) BEFORE CAPITAL
CONTRIBUTIONS AND TRANSFERS 1,255,554 1,060,191 221,269 2,537,014 CAPITAL CONTRIBUTIONS AND TRANSFERS:

Capital contributions 1,743 - - 1,743
Transfers in 478,681 85,006 18,716 582,403
Transfers out - (499,014) - (499,014)
Total capital contributions and transfers 480,424 (414,008) 18,716 85,132 Changes in net position 1,735,978 646,183 239,985 2,622,146 NET POSITION (DEFICIT):

Beginning of year, as restated (Note 19) 7,733,106 (462,856) 382,673 7,652,923 End of year $ 9,469,084 $ 183,327 $ 622,658 $ 10,275,069 City of Madera
Combining Statement of Revenues, Expenses, and Changes in Net Position All Internal Service Funds
For the Year Ended June 30, 2025
177
Fleet Facilities
Maintenance Maintenance Technology Total
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers $ 2,647,619 $ 2,161,345 $ 1,514,361 $ 6,323,325 Cash payments to suppliers for goods and services (663,467) (1,153,627) (752,302) (2,569,396) Cash payments to employees for services (476,732) (993,490) (681,194) (2,151,416) Receipts from other operating activities 30,023 407,422 - 437,445 Net cash provided by operating activities 1,537,443 421,650 80,865 2,039,958

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Transfers from other funds 478,681 85,006 18,716 582,403 Transfers to other funds (499,014) - (499,014) -
Net cash provided by (used in)
noncapital financing activities 478,681 (414,008) 18,716 83,389

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Acquisition of capital assets (2,275,572) (12,985) (240,164) (2,528,721) Principal payment of long-term debt - - (96,792) (96,792) Interest paid on debt - - (1,756) (1,756)
Net cash (used in) capital and
related financing activities (2,275,572) (12,985) (338,712) (2,627,269) CASH FLOWS FROM INVESTING ACTIVITIES:

Interest from investments 167,411 56,410 34,262 258,083 Net cash provided by investing activities 167,411 56,410 34,262 258,083 Net change in cash and cash equivalents (92,037) 51,067 (204,869) (245,839) CASH AND CASH EQUIVALENTS:

Beginning of year 4,321,322 1,434,578 1,064,702 6,820,602 End of year $ 4,229,285 $ 1,485,645 $ 859,833 $ 6,574,763 (Continued)
City of Madera
Combining Statement of Cash Flows
All Internal Service Funds
For the Year Ended June 30, 2025
178
Fleet Facilities
Maintenance Maintenance Technology Total

RECONCILIATION OF OPERATING INCOME
TO NET CASH PROVIDED BY OPERATING ACTIVITIES:

Operating income $ 1,088,143 $ 1,003,781 $ 191,367 $ 2,283,291 Adjustments to reconcile operating income to net
cash provided by operating activities:

Depreciation and amortization 654,679 1,912 195,863 852,454 Changes in operating assets and liabilities, and
deferred outflows and inflows of resources:

Accounts receivable, net 72,159 (50) (34,419) 37,690
Prepaid items (8) (12) (90,103) (90,123)
Deferred outflows - OPEB related (3,134) 11,366 3,094 11,326 Deferred outflows -pension related 104,587 242,225 100,855 447,667 Accounts payable (148,035) (50,339) (125,237) (323,611) Accrued payroll 1,305 418 1,957 3,680
Compensated absences 6,146 (47,667) 14,903 (26,618)
Aggregate net pension liability (241,356) (672,452) (154,607) (1,068,415) Total OPEB liability 738 (62,619) (20,709) (82,590)
Deferred inflows - OPEB related 5,465 1,577 1,740 8,782 Deferred inflows - pension related (3,246) (6,490) (3,839) (13,575) Total adjustments 449,300 (582,131) (110,502) (243,333) Net cash provided by operating activities $ 1,537,443 $ 421,650 $ 80,865 $ 2,039,958 NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES:

Contributed property, plant and equipment $ 1,743 $ - $ - $ 1,743 Total noncash capital and related financing activities $ 1,743 $ - $ - $ 1,743

(Concluded)
All Internal Service Funds
For the Year Ended June 30, 2025
City of Madera
Combining Statement of Cash Flows (Continued)
179
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180
Custodial Funds
The Custodial Funds are used to account for assets held by the City in a custodial capacity for individuals, private organizations, other governments, and/or other funds. The City maintains the following custodial funds for the purposes indicated:

General Deposit Fund - This fund is used to account for all money held as deposits on behalf of others.

Community Facilities Districts - This fund is used to account for the collection of assessments from property owners and for the remittance of such assessments to bondholders as required by the Improvement Bond Act of 1915 and related California State statutes for the Community Facilities District No. 2006-1. 181
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182
General Community
Deposit Facilities
Fund Districts Total
ASSETS
Cash and investments $ 2,047,853 $ 371,703 $ 2,419,556
Accounts receivable, net 958 - 958
Prepaid items 925 - 925
Restricted cash and investments with fiscal agents - 54,039 54,039 Total assets 427,625 2,047,853 2,475,478

LIABILITIES
Accounts payable 36,026 - 36,026
Total liabilities - 36,026 36,026

NET POSITION
Restricted for:

Individuals, organizations, and other governments 2,011,827 427,625 2,439,452 Total net position $ 2,011,827 $ 427,625 $ 2,439,452
City of Madera
Combining Statement of Fiduciary Net Position
Custodial Funds
June 30, 2025
183
General Community
Deposit Facilities
Fund Districts Total
ADDITIONS:

Fee collections for others $ 1,624,275 $ 1,624,275 - $
Special assessments for other governments - 195,301 195,301 Investment income (loss) 12,014 10,689 22,703
Total additions 1,636,289 205,990 1,842,279
DEDUCTIONS:

Administration - 8,202 8,202
Project payments 1,606,966 1,606,966 -
Payments on conduit bonds - principal - 107,744 107,744 Payments on conduit bonds - interest - 73,389 73,389
Total deductions 1,606,966 189,335 1,796,301
Changes in net position 16,655 29,323 45,978
NET POSITION:

Beginning of year 1,982,504 410,970 2,393,474
End of year $ 2,011,827 $ 427,625 $ 2,439,452
City of Madera
Combining Statement of Changes in Fiduciary Net Position Custodial Funds
For the Year Ended June 30, 2025
184

STATISTICAL SECTION
185
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186

CONTENTS PAGE
1 Net Position by Component 188
2 Changes in Net Position 190
3 Fund Balances of Governmental Funds 194
4 Changes in Fund Balances of Governmental Funds 196
5 Governmental Activities Tax Revenues by Source 199
6 Assessed Value of Taxable Property 200
7 Property Tax Levies and Collections 202
8 Direct and Overlapping Property Tax Rates 203
9 Top Ten Principal Property Taxpayers 205
10 Ratios of Outstanding Debt by Type 206
11 Ratios of General Bonded Debt Outstanding 208
12 Direct and Overlapping Governmental Activities Debt 209 13 Legal Debt Margin Information 210
14 Pledged Revenue Coverage 212
15 Demographic and Economic Statistics 214
16 Principal Employers 215
17 Full-Time Equivalent City Government Employees by Function/Program 217 18 Operating Indicators by Function/Program 218
19 Capital Asset Statistics by Function/Program 220
Sources: Unless otherwise noted, the information in these schedules is derived from the City's annual comprehensive financial reports for the relevant year

CITY OF MADERA - STATISTICAL SECTION
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.

Revenue Capacity - These schedules contain information to help the reader assess the City of Madera's most significant local revenue source, the property tax.

Debt Capacity - These schedules present information to help the reader assess the affordability of the City's current level of outstanding debt and the City's ability to issue additional debt in the future.

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.

Financial Trends - These schedules contain trend information to help the reader understand how the City of Madera's financial performance and well-being have changed over time.

This part of the City of Madera's annual comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City's overall financial health.
187
2025 2024 2023 2022 2021
Governmental activities
Net investment in capital assets $ 174,895,436 $ 172,147,075 $ 173,636,768 $ 177,369,996 $ 178,947,614 Restricted 66,135,749 58,005,517 50,277,926 44,524,605 46,349,016 Unrestricted 22,379,977 15,831,505 16,130,158 1,380,440 (9,774,183) Total governmental activities net position $ 263,411,162 $ 245,984,097 $ 240,044,852 $ 223,275,041 $ 215,522,447 Business type activities
Net investment in capital assets $ 90,383,638 $ 70,690,021 $ 65,561,102 $ 65,475,770 $ 65,967,085 Restricted 2,634,242 2,057,640 2,579,539 1,794,447 963,474 Unrestricted 63,413,260 57,852,936 43,636,832 41,013,126 33,447,161 Total business type activities net position $ 156,431,140 $ 130,600,597 $ 111,777,473 $ 108,283,343 $ 100,377,720 Primary government
Net investment in capital assets $ 265,279,074 $ 242,837,096 $ 239,197,870 $ 242,845,766 $ 244,914,699 Restricted 68,769,991 60,063,157 52,857,465 46,319,052 47,312,490 Unrestricted 85,793,237 73,684,441 59,766,990 42,393,566 23,672,978 Total primary government net position $ 419,842,302 $ 376,584,694 $ 351,822,325 $ 331,558,384 $ 315,900,167 City of Madera
Schedule 1
Net Position by Component
Last Ten Fiscal Years (accrual basis of accounting)
Fiscal Years
188
2020 2019 2018 2017 2016
Governmental activities
Net investment in capital assets $ 160,970,918 $ 172,189,172 $ 176,114,816 $ 178,119,000 $ 178,483,617 Restricted 55,679,367 44,311,906 37,033,179 34,863,951 32,193,071 Unrestricted (10,495,207) (12,968,431) (10,128,387) (9,560,807) (11,207,039) Total governmental activities net position $ 206,155,078 $ 203,532,647 $ 203,019,608 $ 203,422,144 $ 199,469,649 Business type activities
Net investment in capital assets $ 64,433,636 $ 61,048,060 $ 58,537,120 $ 58,792,617 $ 57,639,498 Restricted 1,166,101 4,940,553 1,125,151 1,076,451 -
Unrestricted 26,306,961 17,336,248 15,846,498 13,966,875 17,152,594 Total business type activities net position $ 91,906,698 $ 83,324,861 $ 75,508,769 $ 73,835,943 $ 74,792,092 Primary government
Net investment in capital assets $ 225,404,554 $ 233,237,232 $ 234,651,936 $ 236,911,617 $ 236,123,115 Restricted 56,845,468 49,252,459 38,158,330 35,940,402 32,193,071 Unrestricted 15,811,754 4,367,817 5,718,111 4,406,068 5,945,555 Total primary government net position $ 298,061,776 $ 286,857,508 $ 278,528,377 $ 277,258,087 $ 274,261,741 City of Madera
Schedule 1
Net Position by Component (Continued)
Last Ten Fiscal Years (accrual basis of accounting)
Fiscal Years
189
2025 2024 2023 2022 2021
Expenses
Governmental activities:

General government $ 8,972,158 $ 9,944,817 $ 8,709,507 $ 9,503,665 $ 9,700,357 Public protection 26,221,115 28,100,984 19,843,489 21,670,917 18,826,073 Social services 228,413 250,491 (12,583) 1,061,114 133,639 Public ways and facilities 5,715,045 6,232,346 3,690,713 5,320,754 3,741,698 Culture and recreation 4,515,931 4,923,898 4,195,329 5,136,917 5,993,699 Community development 5,734,478 6,213,201 4,670,551 3,158,176 3,509,000 Interest on long-term debt 573,255 607,460 643,406 671,356 692,894 Total governmental activities expenses 51,960,395 56,273,197 41,740,412 46,522,899 42,597,360 Business type activities:

Water 7,541,494 9,719,879 9,595,209 7,317,498 7,427,430 Sewer 11,173,895 11,880,792 12,320,078 8,737,728 9,216,976 Solid waste 9,083,822 8,832,375 9,379,389 6,146,265 5,758,119 Drainage operations 1,261,194 1,466,632 1,241,082 929,265 943,353 Local transit 3,756,292 3,965,092 3,904,438 3,104,405 2,499,127 Golf course 274,162 365,238 75,993 85,044 94,635
Airport 806,517 847,330 1,227,634 883,402 787,373
Total business type activities expenses 33,897,376 37,077,338 37,743,823 27,203,607 26,727,013 Total primary government expenses $ 85,857,771 $ 93,350,535 $ 79,484,235 $ 73,726,506 $ 69,324,373 Program Revenues
Governmental activities:

Program revenues:

General government $ 606,982 $ 543,635 $ 806,808 $ 951,582 $ 1,174,107 Public protection 1,744,523 2,816,096 1,654,817 1,583,277 1,906,334 Social services - - - - -
Public ways and facilities 24,868,514 18,931,794 15,013,053 11,479,145 10,910,045 Community development 3,636,060 2,495,619 3,868,158 4,842,711 5,645,305 Culture and recreation 1,195,915 1,071,327 1,225,283 638,302 1,048,539 Total governmental activities program revenues 32,051,994 25,858,471 22,568,119 19,495,017 20,684,330 Business type activities:

Program revenues:

Water 13,374,625 12,347,034 12,178,109 13,727,980 13,538,219 Sewer 13,747,083 12,932,039 11,734,950 10,921,383 11,352,608 Solid waste 12,034,821 11,826,131 8,288,152 6,096,051 5,890,825 Drainage operations 1,741,258 903,681 1,078,836 1,510,375 1,070,277 Local transit 3,509,045 4,162,380 3,581,550 2,842,877 2,398,029 Golf course 225,906 226,091 84,107 74,712 78,053
Airport 361,728 1,490,573 348,230 442,548 617,608
Total business type activities program revenues 44,994,466 43,887,929 37,293,934 35,615,926 34,945,619 Total primary government program revenues $ 77,046,460 $ 69,746,400 $ 59,862,053 $ 55,110,943 $ 55,629,949 Net (Expense)/Revenue
Governmental activities $ (19,908,401) $ (30,414,726) $ (19,172,293) $ (27,027,882) $ (21,913,030) Business type activities 11,097,090 6,810,591 (449,889) 8,412,319 8,218,606 Total primary government net expense $ (23,604,135) (8,811,311) $ (19,622,182) $ (18,615,563) $ (13,694,424) $ Last Ten Fiscal Years (accrual basis of accounting)
Fiscal Years
City of Madera
Schedule 2
Changes in Net Position
190
2020 2019 2018 2017 2016
Expenses
Governmental activities:

General government $ 9,574,371 $ 9,703,723 $ 8,697,525 $ 7,692,256 $ 8,890,092 Public protection 20,182,145 18,983,486 18,425,675 12,903,321 14,722,091 Social services 422,270 330,498 346,863 303,015 182,286 Public ways and facilities 7,369,948 5,478,070 5,081,612 4,607,237 6,852,731 Culture and recreation 4,056,088 4,525,133 4,744,555 4,421,827 4,451,155 Community development 4,654,520 4,492,799 4,022,163 3,029,515 5,249,438 Interest on long-term debt 509,977 210,504 74,490 110,856 280,037 Total governmental activities expenses 46,769,319 43,724,213 41,392,883 33,068,027 40,627,830 Business type activities:

Water 8,295,137 7,654,315 9,262,549 10,066,546 5,590,810 Sewer 10,038,430 9,924,665 9,854,304 8,758,885 8,476,744 Solid waste 5,875,225 6,056,309 5,811,095 6,305,944 4,936,291 Drainage operations 1,110,864 1,149,676 887,698 956,287 1,024,498 Local transit 2,403,789 2,321,063 2,166,293 2,184,533 2,051,814 Golf course 103,861 120,763 199,012 115,882 74,596
Airport 801,043 842,652 1,163,134 893,106 852,560
Total business type activities expenses 28,628,349 28,069,443 29,344,085 29,281,183 23,007,313 Total primary government expenses $ 71,793,656 75,397,668 $ 70,736,968 $ 62,349,210 $ 63,635,143 $ Program Revenues
Governmental activities:

Program revenues:

General government 242,424 $ 6,223,401 $ 5,727,717 $ 5,526,628 $ 6,996,758 $ Public protection 2,492,680 1,498,740 1,268,539 1,160,181 1,414,790 Social services 42,549 45,159 87,568 82,637 69,314
Public ways and facilities 9,246,144 10,385,688 6,320,845 7,164,876 7,865,237 Community development 2,866,097 3,434,002 2,831,560 3,085,754 3,833,881 Culture and recreation 696,197 941,359 837,220 934,173 1,529,999 Total governmental activities program revenues 15,586,091 22,528,349 17,073,449 17,954,249 21,709,979 Business type activities:

Program revenues:

Water 12,414,215 12,323,836 11,932,955 9,232,389 7,312,514 Sewer 10,797,565 10,352,115 8,791,285 8,108,977 7,469,167 Solid waste 5,982,010 5,890,085 5,872,152 5,889,675 5,695,241 Drainage operations 869,502 938,423 692,227 706,793 955,602 Local transit 5,873,660 4,316,816 2,263,648 2,297,400 2,811,840 Golf course 101,734 95,889 100,469 93,797 96,542
Airport 581,739 579,745 1,038,032 1,810,619 551,005
Total business type activities program revenues 36,620,425 34,496,909 30,690,768 28,139,650 24,891,911 Total primary government program revenues $ 57,025,258 52,206,516 $ 47,764,217 $ 46,093,899 $ 46,601,890 $ Net (Expense)/Revenue
Governmental activities (31,183,228) $ (21,195,864) $ (24,319,434) $ (15,113,778) $ (18,917,851) $ Business type activities 7,992,076 6,427,466 1,346,683 (1,141,533) 1,884,598 Total primary government net expense $ (14,768,398) (23,191,152) $ (22,972,751) $ (16,255,311) $ (17,033,253) $ Last Ten Fiscal Years (accrual basis of accounting)
Fiscal Years
City of Madera
Schedule 2
Changes in Net Position (Continued)
191
2025 2024 2023 2022 2021
General Revenues and
Other Changes in Net Position
Governmental activities:

Taxes
Property taxes $ 15,576,920 $ 15,005,070 $ 13,505,386 $ 12,134,288 $ 11,020,353 Sales and use taxes 19,712,059 19,360,846 19,291,534 19,440,017 16,894,337 Franchises taxes 836,662 818,740 841,540 763,276 721,028 Other taxes 2,702,053 2,506,305 2,281,598 2,462,689 1,813,979 Investment income (loss) 5,261,320 3,785,488 959,461 (1,475,300) (97,360) Miscellaneous 1,069,475 1,063,760 980,194 934,376 317,971 Gain (loss) on sale of capital assets - - - - 35,469
Transfers (7,300,763) (6,186,238) (1,917,609) 521,130 574,622 Special items - Transfers of assets - - - - -
Total governmental activities 37,857,726 36,353,971 35,942,104 34,780,476 31,280,399 Business type activities:

Property taxes 382,076 324,924 258,727 247,624 237,264
Investment income (loss) 3,080,055 3,264,842 679,254 (913,654) 340,816 Miscellaneous 4,118,432 2,236,529 1,035,824 680,464 113,658 Gain (loss) on sale of capital assets - - 52,605 135,300 - Transfers 7,300,763 6,186,238 1,917,609 (521,130) (574,622) Total business type activities 14,881,326 12,012,533 3,944,019 (506,696) 252,416 Total primary government $ 52,739,052 $ 48,366,504 $ 39,886,123 $ 34,273,780 $ 31,532,815 Change in Net Position
Governmental activities $ 17,949,325 $ 5,939,245 $ 16,769,811 $ 7,752,594 $ 9,367,369 Business type activities 25,978,416 18,823,124 3,494,130 7,905,623 8,471,022 Total primary government $ 43,927,741 $ 24,762,369 $ 20,263,941 $ 15,658,217 $ 17,838,391 Fiscal Years
Schedule 2
Changes in Net Position (Continued)
Last Ten Fiscal Years (accrual basis of accounting)
City of Madera
192
2020 2019 2018 2017 2016
General Revenues and
Other Changes in Net Position
Governmental activities:

Taxes
Property taxes $ 11,045,364 $ 4,332,639 $ 3,824,185 $ 4,040,067 $ 3,571,669 Sales and use taxes 15,227,811 13,399,196 12,923,918 9,112,909 6,506,004 Franchises taxes 688,563 649,666 666,238 649,415 678,438 Other taxes 2,019,087 1,964,472 1,707,452 1,694,786 2,172,574 Investment income (loss) 1,247,564 1,910,967 265,581 203,973 603,795 Miscellaneous 1,205,394 829,050 1,147,727 343,287 580,398 Gain (loss) on sale of capital assets (42,920) 43,791 - 31,374 16,304 Transfers 352,225 275,116 374,407 172,913 1,718,751
Special items - Transfers of assets 2,062,571 - - - -
Total governmental activities 33,805,659 23,404,897 20,909,508 16,248,724 15,847,933 Business type activities:

Property taxes 228,943 209,374 182,390 171,878 58,333
Investment income (loss) 548,322 407,450 68,049 120,594 210,257 Miscellaneous 78,165 76,531 3,956 26,004 34,976
Gain (loss) on sale of capital assets 86,556 - 12,990 39,821 4,250 Transfers (352,225) (275,116) (372,671) (172,913) (1,718,751) Total business type activities 589,761 418,239 (105,286) 185,384 (1,410,935) Total primary government $ 23,823,136 34,395,420 $ 20,804,222 $ 16,434,108 $ 14,436,998 $ Change in Net Position
Governmental activities 2,622,431 $ 2,209,033 $ (286,356) $ (8,070,710) $ 734,155 $ Business type activities 8,581,837 6,845,705 6,322,180 1,532,067 (2,552,468) Total primary government $ 9,054,738 11,204,268 $ 6,035,824 $ (6,538,643) $ (1,818,313) $ Fiscal Years
Schedule 2
Changes in Net Position (Continued)
Last Ten Fiscal Years (accrual basis of accounting)
City of Madera
193
2025 2024 2023 2022 2021
General Fund
Nonspendable $ 201,626 $ 159,692 $ 141,842 $ 149,510 $ 139,843 Restricted 4,073,298 4,299,453 2,365,453 - -
Committed 16,011,311 15,927,664 15,130,431 10,903,504 11,194,964 Assigned 13,819,239 16,092,149 15,797,488 16,614,848 13,906,278 Unassigned 14,662,398 20,022,846 12,291,870 10,908,284 5,482,689 Total General Fund 56,543,738 48,725,938 45,727,084 38,576,146 30,723,774 All other Governmental Funds
Nonspendable 19,408 12,879 13,131 - 4,010
Restricted 58,005,517 66,271,881 50,277,926 43,876,531 45,692,871 Committed - - - - -
Assigned - - - - -
Unassigned (deficit) - (1,323,496) (1,927,931) (1,300,623) (1,460,591) Total all other Governmental Funds 66,291,289 56,694,900 48,363,126 42,575,908 44,236,290 TOTAL FUND BALANCES $ 105,420,838 122,835,027 $ 94,090,210 $ 81,152,054 $ 74,960,064 $ Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Years
City of Madera
Schedule 3
Fund Balances of Governmental Funds
194
2020 2019 2018 2017 2016
General Fund
Nonspendable $ 249,637 $ 202,901 $ 601,522 $ 272,102 $ 368,959 Restricted 401,700 4,934,403 - - -
Committed 10,483,246 10,292,405 11,574,005 - -
Assigned 5,528,814 6,763,704 1,199,518 1,199,518 1,199,518 Unassigned 3,049,282 7,398,714 4,673,303 13,968,482 12,879,473 Total General Fund 25,106,160 24,198,646 18,048,348 15,440,102 14,447,950 All other Governmental Funds
Nonspendable 3,815 27 42 8,547,157 -
Restricted 39,377,503 55,277,667 35,986,212 33,857,600 23,974,874 Committed - - - -
Assigned - - - - -
Unassigned (deficit) (959,555) - - - (231,803)
Total all other Governmental Funds 54,321,927 39,377,530 35,986,254 33,857,600 32,290,228 TOTAL FUND BALANCES $ 63,576,176 79,428,087 $ 54,034,602 $ 49,297,702 $ 46,738,178 $ Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Years
City of Madera
Schedule 3
Fund Balances of Governmental Funds (Continued)
195
2025 2024 2023 2022 2021
Revenues
Property taxes $ 15,576,921 $ 15,005,070 $ 5,773,982 $ 4,971,690 $ 4,331,022 Sales and use taxes 19,712,059 19,360,846 19,291,534 19,440,017 16,894,337 Other taxes 2,936,132 2,472,470 2,470,829 2,644,500 1,921,747 Use of money and property 3,882,264 5,194,405 1,052,683 (689,229) 323,569 Franchises 836,662 818,740 841,540 763,276 721,028
Licenses, permits and fees 888,204 1,131,638 1,502,455 1,174,652 1,555,955 Fines 412,803 549,370 468,972 436,032 452,319
Intergovernmental 25,531,979 21,972,342 19,995,869 17,976,535 17,641,730 Charges for services 2,172,130 3,839,896 5,588,835 4,995,341 5,118,683 Other revenue 876,042 887,902 1,412,845 1,212,449 578,896 Total revenues 74,137,337 69,920,538 58,399,544 52,925,263 49,539,286 Expenditures
General government 3,047,895 3,878,728 3,874,775 4,301,922 3,628,480 Public protection 24,616,099 26,653,619 21,617,953 20,383,663 19,854,358 Social services 206,450 180,978 181,934 45,991 131,881
Public ways and facilities 4,322,637 5,566,275 3,800,991 6,072,097 3,319,019 Community development 4,658,934 4,401,321 5,178,403 4,548,230 5,839,428 Culture and recreation 4,994,474 5,381,085 4,687,240 3,237,150 2,796,274 Capital outlay 5,170,032 4,507,480 2,621,252 6,955,986 18,538,217 Debt service: -
Principal 1,137,839 1,106,145 1,074,909 1,034,200 401,700 Interest 611,416 645,712 678,464 709,092 730,344
Total expenditures 49,338,996 51,748,123 43,715,921 47,288,331 55,239,701 Culture and recreation
Excess of revenues over (under) expenditures 24,798,341 18,172,415 14,683,623 5,636,932 (5,700,415) Other financing sources (uses)
Proceeds from sale of property - - 33,429 400 513,267
Proceeds from issuance of long-term debt - - - - -
Premium on bond issuance - - - - -
Cost of issuance - - 23,636 - -
Transfers in 6,001,583 8,185,357 4,304,318 3,350,930 5,103,755 Transfers out (15,569,509) (12,843,370) (6,106,850) (2,796,272) (4,384,630) Total other financing sources (uses) (7,384,152) (6,841,787) (1,745,467) 555,058 1,232,392 Net change in fund balances $ 17,414,189 $ 11,330,628 $ 12,938,156 $ 6,191,990 $ (4,468,023) Debt service as a percentage of non-capital
expenditures 4.0% 3.7% 4.3% 4.3% 3.1%
Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Years
City of Madera
Schedule 4
Changes in Fund Balances of Governmental Funds
196
2020 2019 2018 2017 2016
Revenues
Property taxes $ 4,613,254 $ 4,332,639 $ 3,825,921 $ 4,054,503 $ 3,115,740 Sales and use taxes 15,227,811 13,399,196 13,262,908 8,741,373 6,506,004 Other taxes 2,114,190 2,081,211 1,707,452 1,698,487 2,141,433 Use of money and property 2,078,944 1,378,494 392,428 358,735 767,778 Franchises 688,563 649,666 666,238 649,415 678,438
Licenses, permits and fees 1,106,424 1,322,830 1,049,103 701,825 646,800 Fines 494,823 591,298 588,584 750,388 935,358
Intergovernmental 13,620,058 16,380,444 11,781,034 12,654,660 16,326,841 Charges for services 4,091,909 3,322,989 3,457,257 3,497,588 3,240,452 Other revenue 1,235,377 1,048,977 924,918 632,560 437,305 Total revenues 44,570,903 45,208,194 37,655,843 33,739,534 34,796,149 Expenditures
General government 3,075,710 2,691,729 2,106,580 1,796,055 2,959,739 Public protection 18,393,027 17,196,886 16,932,579 14,934,669 14,621,471 Social services 198,360 192,633 309,121 405,251 357,699 Public ways and facilities 5,957,037 4,233,896 3,476,106 3,101,070 3,834,908 Community development 3,429,815 3,130,348 3,800,416 3,831,163 3,392,870 Culture and recreation 3,300,189 4,006,826 3,598,837 3,106,938 5,219,577 Capital outlay 13,834,273 6,802,125 2,519,381 3,143,357 7,073,119 Debt service:

Principal 559,403 633,222 1,452,775 568,464 977,512
Interest 351,820 52,341 75,660 113,860 266,431
Total expenditures 48,416,186 39,623,454 34,271,455 31,000,827 38,703,326 Culture and recreation
Excess of revenues over (under) expenditures (3,845,283) 5,584,740 3,384,388 2,738,707 (3,907,177) Other financing sources (uses)
Proceeds from sale of property 679,580 46,518 41,691 37,027 9,969 Proceeds from issuance of long-term debt 19,432,000 4,005,000 895,900 - - Premium on bond issuance - 648,613 - - 1,540,065
Cost of issuance (84,752) (153,613) - - -
Transfers in 2,768,183 15,443,432 5,005,541 4,504,230 7,289,955 Transfers out (15,773,066) (2,992,087) (5,284,157) (4,812,845) (6,109,973) Total other financing sources (uses) 19,697,194 4,322,614 658,975 (271,588) 2,730,016 Net change in fund balances $ 15,851,911 $ 9,907,354 $ 4,043,363 $ 2,467,119 $ (1,177,161) Debt service as a percentage of non-capital
expenditures 2.6% 2.1% 4.8% 2.4% 3.9%
Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Years
City of Madera
Schedule 4
Changes in Fund Balances of Governmental Funds (Continued) 197
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198
Sources of Property Sales Franchise Transient Business License Other Tax Revenues Tax Tax* Tax Occupancy Tax Tax Taxes TOTAL 2024-2025 15,576,920 $ 19,712,059 $ 836,662 $ 1,203,857 $ 628,195 $ 870,001 $ 38,827,694 $ 2023-2024 15,005,070 19,360,846 818,740 1,040,936 589,634 875,735 37,690,961 2022-2023 13,505,386 19,291,534 841,540 1,105,972 567,304 608,322 35,920,058 2021-2022 12,134,288 19,440,017 763,276 1,149,939 566,564 746,186 34,800,270 2020-2021 11,020,353 16,894,337 721,028 886,017 291,109 636,853 30,449,697 2019-2020 4,613,254 15,227,811 688,563 804,286 578,040 636,761 22,548,715 2018-2019 4,332,639 13,399,196 649,666 903,124 442,443 - 19,727,068 2017-2018 3,824,186 12,934,817 666,238 - 447,059 - 17,872,300 2016-2017 3,696,995 8,741,373 649,415 - 426,375 - 13,514,158 2015-2016 3,115,740 6,506,004 678,438 - 416,806 - 10,716,988 NOTES:
*The City passed "Measure T" allowing an additional increase of 0.50% in the local sales tax rate. This local measure became effective on April 1, 2007 and ends on March 31, 2027. In addition, the City passed "Measure K", an additional 0.50% sales tax increase specifically for public safety in November 2016 with no sunset date. Measure T was renewed in 2024 for a new 20 year period beginning on April 1, 2027.

City of Madera
Schedule 5
Governmental Activities Tax Revenues by Source
Last Ten Fiscal Years (modified accrual basis of accounting) 199
CATEGORY 2025 2024 2023 2022 2021
Residential $ 3,106,606,803 $ 2,984,054,480 $ 2,760,446,564 $ 2,496,189,868 $ 2,335,164,803 Commercial 552,922,283 572,715,274 520,965,786 498,301,393 483,155,413 Industrial 236,915,946 212,030,045 186,944,825 169,861,323 174,322,830 Agriculture 46,738,672 44,933,880 15,017,779 14,056,096 13,017,642 Dry Farm 17,909,634 17,791,105 16,137,016 15,746,916 15,306,770 Government 2,259,091 1,902,287 - - 2,036,417
Institutional - - 1,426,383 1,603,250 1,920,464
Irrigated 1,512,363 1,544,413 1,732,408 1,697,771 1,680,888 Cross Reference 32,973,874 32,209,818 39,530,686 38,833,078 40,913,367 Vacant Land 340,822,684 245,645,885 212,580,116 207,422,925 196,572,803 SBE Non-Unitary 590,440 590,440 590,440 548,402 548,402 Unsecured 390,992,361 357,997,743 306,329,667 305,755,769 307,490,035 Unknown 27,278,494 180,924 653,585 643,408 638,191
Totals 4,777,347,686 4,451,771,253 4,062,355,255 3,750,660,199 3,572,768,025 Total Direct Rate 13.324% 13.377% 13.287% 12.699% 13.147% NOTES:

Fiscal Years
In 1978 the voters of the State of California passed Proposition 13 which limited 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 of 2%). With few exceptions, property is only reassessed as a result of new construction activity or at the time it is sold to a new owner. At that point, the property is reassessed based upon the added value of the construction or at the purchase price (market value) or economic value 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.

Exempt values are not included in Total
City of Madera
Schedule 6
Assessed Value of Taxable Property
Last Ten Fiscal Years
Source: HdL Coren Cone 200
CATEGORY 2020 2019 2018 2017 2016
Residential $ 2,201,293,176 $ 2,035,513,239 $ 1,917,149,489 $ 1,824,835,555 $ 1,739,590,175 Commercial 429,900,137 443,426,571 419,282,129 403,687,826 386,226,705 Industrial 178,171,356 179,040,074 172,661,353 166,063,864 178,416,598 Agriculture 13,457,474 12,920,915 5,840,462 5,275,944 5,153,044 Dry Farm 15,019,028 15,391,780 134,096,409 13,830,501 11,764,375 Government - 2,054,539 6,069 5,950 5,861
Institutional 1,282,549 1,674,829 2,113,776 1,295,250 1,558,852 Irrigated 1,603,053 1,635,256 1,598,326 1,566,070 1,541,526 Cross Reference 37,692,391 39,817,937 36,669,788 35,511,414 34,716,877 Vacant Land 183,027,173 219,593,087 55,896,615 166,553,864 155,926,515 SBE Non-Unitary 625,460 625,460 625,420 743,768 743,768 Unsecured 287,932,288 280,734,337 237,615,373 221,973,452 201,164,923 Unknown 628,316 1,236,714 4,352,697 4,025,707 3,939,930 Totals 3,366,245,577 3,218,051,562 2,987,907,906 2,845,369,165 2,720,749,149 Total Direct Rate 13.198% 13.281% 13.369% 13.243% 13.255% NOTES:

Exempt values are not included in Total
City of Madera
Schedule 6
Assessed Value of Taxable Property (Continued)
Last Ten Fiscal Years
Source: HdL Coren Cone 201
Fiscal Year Taxes Levied Collections
Ended for the Percentage in Subsequent Percentage
June 30 Fiscal Year Amount of Levy Years 1 Amount of Levy 2025 $ 4,926,734 $ 4,639,013 94.16% $ 5,619 $ 4,644,632 94.27% 2024 4,572,629 4,331,194 94.72% 2,554 4,333,748 94.78%
2023 4,337,253 4,090,897 94.32% 9,509 4,100,406 94.54%
2022 3,804,550 3,763,833 98.93% 5,281 3,769,114 99.07%
2021 3,591,118 3,582,748 99.77% - 3,582,748 99.77%
2020 3,409,931 3,394,991 99.56% 4,184 3,399,175 97.58%
2019 3,229,350 3,127,793 96.86% 23,314 3,151,107 98.93% 2018 3,128,370 3,093,867 98.90% 1,000 3,094,867 99.11%
2017 2,933,663 2,917,792 99.46% (10,357) 2,907,435 0.00% 2016 N/A N/A 0.00% - - 0.00%
NOTES:

N/A - Information not available due to the City not preparing the Statistical Section until FY2016/17.

Fiscal Year of the Levy Total Collections to Date
1) Delinquent tax collections are recorded in the current levy year and the County does not give the detail as to the levy year for delinquent tax collections. Delinquent tax collections do not include interest and penalties.

City of Madera
Schedule 7
Property Tax Levies and Collections
Last Ten Fiscal Years
Collected within the
202
Fiscal Year
Ended June 30, City of Madera
Madera Unified
School District
State Center
Community College County-wide Total
2025 0.0% 12.8% 0.8% 100.0% 113.6%
2024 0.0% 15.0% 2.1% 100.0% 117.1%
2023 0.0% 11.4% 2.8% 100.0% 114.3%
2022 0.0% 12.5% 1.8% 100.0% 114.3%
2021 0.0% 12.5% 1.8% 100.0% 114.3%
2020 0.0% 16.5% 2.6% 100.0% 119.1%
2019 0.0% 9.7% 2.3% 100.0% 112.0%
2018 0.0% 10.3% 2.6% 100.0% 112.9%
2017 0.0% 11.4% 0.8% 100.0% 112.2%
2016 0.0% 12.8% 0.8% 100.0% 113.6%
Note: The basis for the tax rates is $100 per assessed valuation. Only 1% of the value is taxed.

Source: Madera County Auditor-Controller Tax Rate Book
City of Madera
Schedule 8
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
Source: HdL Coren Cone 203
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204
Percentage of Percentage of
Taxable Total Taxable Taxable Total Taxable
Assessed Assessed Assessed Assessed
Taxpayer Rank Value Value Rank Value Value
John Hancock Life Insurance Co. 1 $ 41,241,153 0.85%
Severn Peanut Company, Inc. 2 27,943,647 0.58%
The Almond Company 3 26,619,870 0.55%
Evapco, Inc. 4 25,616,096 0.53%
Raven Aviation 5 23,952,533 0.49%
Sealed Air Corporation 6 23,358,233 0.48% 3 $ 17,849,191 0.65% Origo Cold Madera Phase 1 7 21,083,022 0.44%
Rhino Holdings Madera Marketplace 8 20,950,674 0.43%
Crossroads Madera California LB1 LLC 9 19,910,755 0.41% 801 N Granada Drive LLC 10 19,752,200 0.41%
David L and Patricia R Berry 1 23,635,749 0.86%
OldCastle Precast Inc 2 22,142,310 0.81%
Lowes HIW Inc 4 17,300,072 0.63%
Newman Development Group of Madera LLC 5 16,922,719 0.62% Eurodrip USA, Inc. 6 16,133,691 0.59%
Advanced Drainage System 7 15,219,993 0.56%
Ready Roast Nut Company LLC 8 14,846,456 0.54%
DMP Development Corporation 9 14,494,075 0.53%
John Bean Technologies Coproration 10 14,308,927 0.52%
Top Ten Totals $ 250,428,183 5.17% $ 172,853,183 6.32%
CITY TOTALS $ 4,846,327,323 $ 2,734,006,632
2024-2025 2015-2016
City of Madera
Schedule 9
Top Ten Principal Property Taxpayers
Fiscal Year 2025 and Nine Years Prior
Source: HdL Coren Cone 205
Lease Special Total
Fiscal Revenue Assessment Loans Finance Subscription Governmental Year Bonds Bonds Payable Purchase Payable Activities
2025 $ 3,618,712 $ - $ 61,600 $ 16,145,000 $ 6,343 $ 19,831,655 2024 3,806,120 - 182,400 17,001,000 109,174 21,098,694
2023 3,988,528 - 299,800 17,834,000 209,417 22,331,745
2022 4,163,695 - 414,200 18,644,000 288,695 23,510,590
2021 4,331,850 - 525,400 19,432,000 24,289,250 -
2020 4,495,005 - 633,600 19,595,500 24,724,105 -
2019 4,653,160 - 738,900 492,602 5,884,662 -
2018 - - 863,554 1,023,325 1,886,879 -
2017 - - 60,088 2,425,766 2,485,854 -
2016 - 2,683,119 98,022 3,002,145 5,783,286 -
NOTES:
a) See Schedule 15 (Demographic and Economic Statistics) for personal income and population data City of Madera
Schedule 10
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years

GOVERNMENTAL ACTIVITIES
206
Total Total Percentage of
Fiscal Wastewater Water Loans Business-Type Primary Personal Per Year Bonds Bonds Payable Activities Government Income a Capita a 2025 19,200,000 $ 6,474,320 $ 4,939,000 $ 30,613,320 $ 50,444,975 $ 2.97% 759$ 2024 20,595,000 6,932,228 5,334,000 32,861,228 53,959,922 5.13% 1,184 2023 21,935,000 7,379,348 5,882,800 35,197,148 57,528,893 6.19% 1,277 2022 21,665,000 9,379,894 6,605,081 37,649,975 61,160,565 7.39% 1,341 2021 22,830,000 9,883,042 7,309,220 40,022,262 64,311,512 8.02% 1,405 2020 23,866,003 10,575,461 8,324,031 42,765,495 67,489,600 9.10% 1,487 2019 25,268,298 11,359,541 8,489,178 45,117,018 51,001,680 8.67% 1,298 2018 26,426,076 11,755,243 9,103,003 47,284,321 49,171,200 9.69% 1,403 2017 27,080,000 12,001,130 9,956,755 49,037,885 51,523,739 10.52% 1,461 2016 28,248,720 12,379,604 10,532,151 51,160,475 56,943,761 11.40% 1,575 NOTES:
a)
City of Madera
Schedule 10
Ratios of Outstanding Debt by Type (Continued)
Last Ten Fiscal Years

BUSINESS-TYPE ACTIVITIES
See Schedule 15 (Demographic and Economic Statistics) for personal income and population data 207
Percentage
Special of Taxable
Fiscal Assessment Assessed Per
Year Bonds Total Property Values a Capita b
2025 $ - $ - 0.00% $ -
2024 - - 0.00% -
2023 - - 0.00% -
2022 - - 0.00% -
2021 - - 0.00% -
2020 - - 0.00% -
2019 - - 0.00% -
2018 - - 0.00% -
2017 - - 0.00% -
2016 2,683,119 2,683,119 0.09% 41
NOTES:
a)
b)
Assessed Value and Actual Value of Taxable Property - provided by HdL, Coren & Cone provided data.

Demographic and Economic Statistics for personal income and population data - Schedule 15.

City of Madera
Schedule 11
Ratios of General Bonded Debt Outstanding
Last Ten Fiscal Years

GOVERNMENTAL ACTIVITIES
208
2024-25 Assessed Valuation:

Debt
Outstanding % City's Share of
OVERLAPPING TAX AND ASSESSMENT DEBT: 6/30/2025 Applicable 1 Debt as of 6/30/25 State Center Community College District $ 348,985,000 3.894% $ 13,589,476 Madera Unified School District 197,706,012 53.852% 106,468,642 City of Madera Community Facilities District No. 2006-1 1,862,277 100.000% 1,862,277 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT $ 121,920,394 DIRECT AND OVERLAPPING GENERAL FUND OBLIGATION DEBT:

Madera County General Fund Obligations 56,553,310 22.762% $ 12,872,664 Madera County Board of Education General Fund Obligations 17,564,210 22.762% 3,997,965 Madera Unified School District Certificates of Participation 70,065,000 53.852% 37,731,404 City of Madera General Fund Obligations Direct Debt 19,831,655 100.000% 19,831,655 TOTAL DIRECT AND OVERLAPPING GENERAL FUND OBLIGATION DEBT $ 74,433,690 OVERLAPPING TAX INCREMENT DEBT (Successor Agency): $ 98.748% 26,716,271 27,055,000 $ TOTAL DIRECT DEBT $ 19,831,655
TOTAL OVERLAPPING DEBT $ 203,238,699
COMBINED TOTAL DEBT $ 223,070,354
NOTES:
(3) Information provided by CalMuni Statistics, Inc.
(1) Percentage of overlapping agency's assessed valuation located within boundaries of the City. (2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations.

City of Madera
Schedule 12
Direct and Overlapping Governmental Activities Debt
As of June 30, 2025
Source: MuniServices, LLC 209
Legal Debt Margin Calculation FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Assessed value $ 4,519,225,639 4,846,327,323 $ 4,130,257,128 $ 3,750,660,199 $ 3,750,525,788 $ Debt limit (15% of assessed value) 726,949,098 677,883,846 619,538,569 562,599,030 562,578,868 Debt applicable to limit:

General obligation bonds - - - - -
of general
obligation debt - - - - -
Total net debt applicable to limit - - - - -
Legal Debt Margin 677,883,846 726,949,098 562,599,030 562,578,868 535,895,042 Total debt applicable to the limit as a
percentage of debt limit 0.00% 0.00% 0.00% 0.00% 0.00%
NOTES:

Last Ten Fiscal Years
Under State Finance Law, the City's outstanding general obligation debt should not exceed 15% of total assessed property value. By law, the general obligation debt subject to the limitation may be offset by amounts set aside for repaying general obligation bonds.

City of Madera
Schedule 13
Legal Debt Margin Information
210
Legal Debt Margin Calculation FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 Assessed value $ 3,366,111,166 3,572,633,614 $ 3,214,555,536 $ 2,984,863,745 $ 2,843,541,362 $ Debt limit (15% of assessed value) 535,895,042 504,916,675 482,183,330 447,729,562 426,531,204 Debt applicable to limit:

General obligation bonds - - - - -
of general
obligation debt - - - - -
Total net debt applicable to limit - - - - -
Legal Debt Margin 504,916,675 504,916,675 482,183,330 447,729,562 426,531,204 Total debt applicable to the limit as a
percentage of debt limit 0.00% 0.00% 0.00% 0.00% 0.00%
NOTES:

City of Madera
Schedule 13
Legal Debt Margin Information (Continued)
211
Net Revenue
Fiscal Gross Available for
Year Revenues Debt Service Principal Interest Coverage
2025 $ 41,784,040 $ 23,068,651 $ 1,395,000 $ 762,015 10.69 2024 35,399,561 25,875,825 1,340,000 811,595 12.03
2023 25,365,131 15,129,771 1,295,000 859,510 7.02
2022 24,441,447 12,898,231 1,250,000 905,760 5.98
2021 23,085,235 11,537,418 1,200,000 950,160 5.37
2020 23,244,181 10,309,898 1,155,000 992,895 4.80
2019 21,434,207 6,380,941 1,120,000 1,034,335 2.96
2018 20,664,801 4,378,989 1,075,000 1,074,110 2.04
2017 17,181,561 1,139,743 1,040,000 1,112,590 0.53
2016 14,673,722 3,883,912 70,000 275,697 11.24
Net Revenue
Fiscal Gross Available for
Year Revenues Debt Service Principal Interest Coverage
2025 $ 17,819,278 $ 10,277,784 $ 457,908 $ 179,989 16.11 2024 17,889,458 10,637,589 447,120 191,864 16.65
2023 13,244,985 8,306,127 435,546 203,439 13.00
2022 13,465,525 7,402,503 418,148 214,592 12
2021 12,511,993 6,379,309 409,781 225,466 10
2020 12,428,666 6,697,361 374,080 40,336 16
2019 - - - - -
2018 - - - - -
2017 - - - - -
2016 - - - - -
City of Madera
Schedule 14
Pledged Revenue Coverage
Last Ten Fiscal Years
Debt Service
Debt Service
2015 Water and Wastewater Revenue Bonds
2019 Water Refunding Bonds
212
Net Revenue
Fiscal Gross Available for
Year Revenues Debt Service Principal Interest Coverage
2025 $ 23,964,762 $ 12,790,867 $ 395,000 $ 123,790 24.66 2024 17,510,103 15,238,236 387,000 133,057 29.30
2023 12,120,146 6,823,644 379,000 142,037 13.10
2022 10,792,230 5,495,728 372,000 150,626 10.52
2021 10,573,242 5,158,109 331,996 196,593 9.76
2020 10,823,426 4,645,738 322,295 206,439 8.79
2019 9,776,777 986,633 312,877 215,998 1.87
2018 8,788,389 266,204 303,735 225,278 0.50
2017 8,042,174 613,008 294,860 234,287 1.16
2016 7,407,933 788,484 286,244 243,032 1.49
Special Net Revenue
Fiscal Assessment Available for
Year Collections Debt Service Principal Interest Coverage 2025 $ 3,093,695 $ 2,233,652 $ 1,570,000 $ 1,270,696 0.79 2024 3,037,181 2,787,181 1,515,000 1,339,545 0.98
2023 3,049,112 2,799,112 1,440,000 1,403,216 0.98
2022 2,871,594 2,621,594 1,390,000 1,461,510 0.92
2021 3,375,855 3,056,710 1,325,000 1,516,309 1.08
2020 2,790,658 598,095 1,215,000 1,563,337 0.22
2019 3,343,667 2,227,379 1,215,000 1,777,468 0.74
2018 3,686,763 2,917,577 1,295,000 2,269,784 0.82
2017 3,879,515 2,780,354 1,250,000 2,323,983 0.78
2016 1,951,305 209,883 1,190,000 2,374,693 0.06
Successor Agency 2018 Tax Allocation Bonds
Debt Service
City of Madera
Schedule 14
Pledged Revenue Coverage (Continued)
Last Ten Fiscal Years
Wastewater Loans Payable
Debt Service
213
Personal
Personal Per Capita School Unemployment
Year Population (1) Income Income (1) Enrollment Rate
2024 66,443 $ 1,697,636,000 $ 25,550 32,284 8.1%
2023 66,560 1,536,404,480 23,083 32,318 8.0%
2022 65,540 1,352,811,140 20,641 32,161 6.6%
2021 65,843 1,194,391,000 18,139 31,494 9.1%
2020 66,172 1,158,300,000 17,504 32,144 10.9%
2019 65,415 1,069,038,000 16,342 31,925 7.8%
2018 66,419 994,407,000 14,971 31,728 7.7%
2017 66,225 959,263,000 14,484 31,468 7.3%
2016 66,082 917,664,000 13,886 31,077 7.9%
2015 65,474 904,576,000 13,815 30,865 9.1%
NOTES:

Source:
www.cde.ca.gov
MuniServices, LLC
City of Madera
Schedule 15
Demographic and Economic Statistics
Last Ten Fiscal Years
Data provided by HdL, Coren & Cone
1 Demographic data has a lag because of time to tabulate, 2025 data not available at this time. 214
Percentage Percentage
of Total City of Total City
Employer Employees Rank Employment Employer Employees Rank Employment State of California 2400 1 5.12%
Madera Unified School District 2013 2 4.29% Madera Unified School District 2219 1 5.59% County of Madera 1896 3 4.04% County of Madera 1275 2 3.21% Wal Mart 350 4 0.75%
Ardagh Group 350 5 0.75% Ardagh Group 205 8
Camarena Health 349 6 0.74%
Community Action Partnership of Madera Co 330 7 0.70%
US Government 325 8 0.69%
City of Madera 301 9 0.64% City of Madera 369 4
Evapco West 230 10 0.49% Evapco West 275 6 0.69%

0.00% Madera Community Hospital 975 3 2.46%
Georgia Pacific Corp 308 5 0.78%
JBT Food Tech 232 7 0.58%
Warnock Food Products 125 9 0.32%
Constellation Wines 119 10 0.30%
8544 4.77% 6102 4.83%
46,900 39,663
Source: 2024-25 data based on City of Madera 2025-26 Budget Source: California Employment Department or Madera County Economic Development Commission 2024-2025 2015-2016
Total City Employment
City of Madera
Schedule 16
Principal Employers
Fiscal Year 2025 and Nine Years Prior
Source: MuniServices LLC 215
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216
FUNCTION/PROGRAM 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 General Government
City Attorney 0000002222
City Council 7777777777
City Manager 2.7 2.7 2.7 3.7 2.7 2.7 1.7 1.95 2.7 0.7
City Clerk 2222222222
Finance 14.95 20.8 27.6 24.9 27.7 24.89 24.73 23.73 24.5 24.03 Information Technology 5.48 4 4 4 4.2 4.17 4.25 4 4 4
Human Resources 4444444444
Community Development 12.49 13.56 10.64 10.8 14.9 18.97 19.59 21.46 21.86 22.13 Planning Commissioners 0000000000
Public Safety
Police Officers-Sworn 76 71 76 71 71 70.3 70.01 69.84 60 57.25 Other Full-Time Employees 31.2 37 32 24 24 24 23.48 23.48 20 20 Public Works
Engineering 18.15 20 19.44 19.9 17.9 13.63 14.67 11.21 11.69 11.85 Maintenance 21.9 22.25 28.22 24.7 17.5 34.45 27.33 28.88 29.57 30.97 Transit Services 4.75 4.8 4.75 5.3 1.7 2.7 3.08 3.08 3.38 3.38 Airport 1.88 1.78 1.88 1.9 1.9 2.86 2.88 2.98 2.46 2.46 Solid Waste Disposal 6.27 6.54 7.26 0.7 0.7 1 6.48 8.88 9.02 7.77 Storm Drainage 4.39 4.74 4.69 4.8 4.1 5.45 5.74 4.54 5.19 4.89 Waster 19.39 21.55 20.54 15.1 18.4 22.34 23.08 25.18 20.66 18.66 Wastewater/Sewer 19.76 20.6 18.82 19.7 25.1 24.66 26.29 26.62 20.32 20.07 Waste Disposal Recycling 0 0 0 0 0 0 1 1.3 1.35 1.3
Successor Agency/RDA 0 0.5 0.5 0.5 0.5 1 1.8 2.3 2.3 2.3 Culture & Recreation 48.84 53.81 53.81 49.1 37.4 47.64 51.42 56.05 61.12 60.9 Total 301.15 318.63 325.85 293.1 282.7 313.76 322.53 330.48 315.12 307.66 City of Madera
Schedule 17
Full-Time Equivalent City Government Employees by Function/Program Last Ten Fiscal Years (As of June 30)
Fiscal Years
217
FUNCTION/PROGRAM 2025 2024 2023 2022 2021
Police
Physical Arrests 1,878 1,769 2,317 2,653 1,789
Parking Violations 267 496 401 541 1,432
Traffic Violations 1,294 1,375 1,854 2,676 2,206
Community Development
Building Permits Issued 2,077 2,580 3,534 3,010 2,236
Building Inspections Performed 13,962 14,609 17,324 20,369 12,003 Planning Permits Issued 201 509 367 270 200
Public Services
Street Resurfacing (miles) 12 14 18 11 16
Street Light Replacement 276 301 203 186 115
Potholes Filled 3,726 4,165 1,936 4,836 2,864
Waste Water Average Daily
Treatment (millions of gallons) 5 5 5 5 5
Transit Route (Service) Miles 357,659 367,430 283,815 238,887 258,599 Transit Passenger Count 93,318 94,880 84,567 52,164 54,683 Parks & Recreation
Sports Field Participation 3,727 2,952 775 1,603 360
Community Center/Gym/Pool Participation 37,862 26,038 24,222 14,170 24,728 Other Participation 29,454 23,699 19,629 10,152 86,364
NOTES:

N/A - Information not available
Fiscal Years
City of Madera
Schedule 18
Operating Indicators by Function/Program
Last Ten Fiscal Years (As of June 30)
Source: Various City Departments 218
FUNCTION/PROGRAM 2020 2019 2018 2017 2016
Police
Physical Arrests 1,829 2,381 1,585 1,014 N/A
Parking Violations 2,189 1,417 953 777 N/A
Traffic Violations 3,385 5,141 1,824 2,801 N/A
Community Development
Building Permits Issued 1,797 2,202 2,390 N/A N/A
Building Inspections Performed 12,003 13,322 16,106 15,186 N/A Planning Permits Issued 153 196 234 211 N/A
Public Services
Street Resurfacing (miles) 3 5 6 4 8
Street Light Replacement 86 64 92 206 N/A
Potholes Filled 2,012 2,341 2,703 2,542 N/A
Waste Water Average Daily
Treatment (millions of gallons) 5 5 5 5 5
Transit Route (Service) Miles 317,504 352,476 140,033 366,788 N/A Transit Passenger Count 95,326 108,535 143,746 142,991 N/A Parks & Recreation
Sports Field Participation 1,802 1,701 N/A N/A N/A
Community Center/Gym/Pool Participation 31,779 38,271 N/A N/A N/A Other Participation 124,062 133,186 N/A N/A N/A
NOTES:

N/A - Information not available
Fiscal Years
City of Madera
Schedule 18
Operating Indicators by Function/Program (Continued)
Last Ten Fiscal Years (As of June 30)
Source: Various City Departments 219
FUNCTION/PROGRAM 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 Police
Stations 1111111111
Patrol Units (marked) 22 22 19 19 41 41 35 35 34 N/A
Motorcycle unit 5 5 5 5 5 4 4 5 3 N/A
K-9 unit 33333333 3 3 N/A
Streets
Streets (Centerline miles) 222 203 203 199 199 199 160 N/A N/A N/A Streetlights 3372 3326 3326 3309 3000 3000 3000 N/A N/A N/A Traffic Signals
CalTrans maintained 16 16 16 16 15 15 15 N/A N/A N/A
City of Madera maintained 41 35 35 34 32 29 29 N/A N/A N/A Culture & Recreation
Total Park Acreage 163 162 160 160 159 159 151 N/A N/A N/A Parks 18 18 16 16 15 15 13 N/A N/A N/A
Baseball Fields 2 2 2 2 2 2 2 N/A N/A N/A
Softball Fields 9 9 9 9 9 9 9 N/A N/A N/A
Soccer Fields 7 7 7 7 7 7 7 N/A N/A N/A
Football Fields 0 0 0 0 0 0 0 N/A N/A N/A
Tennis Courts 0 0 0 0 0 0 0 N/A N/A N/A
Swimming Pools 3 3 3 3 3 3 3 N/A N/A N/A
Community Centers 3 3 3 3 3 3 3 N/A N/A N/A
Waste Water
Sanitary Sewers (miles) 379.5 378.6 375.1 375 375 375 408 0 0 0 Storm Sewers (miles) 0000000000
Treatment Capacity (millions of gallons/day) 7770000000 Transit Services
Minibuses
Fixed Route 14 14 11 11 11 11 11 11 11 N/A
Dial A Ride 5 5 6 6 6 6 6 6 6 N/A
Vans
Dial A Ride 3300000000
Bus Shelters 71 71 71 71 71 71 71 71 71 N/A
NOTES:

N/A - Information not available
City of Madera
Schedule 19
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
Source: Various City Departments 220

Madera City CouncilMarch 18, 2026

Madera City Council
March 18, 2026