Agenda packet — Mammoth Lakes City Council, June 19, 2024 (part 2 of 3)

Town of Mammoth Lakes
North Village BAD No. 2002-2 - Zone 1
Fiscal Year 2024/25 Assessment Roll
Assessor's Parcel Number Property Land Use Classification FY 2024/25 Max. Assessment FY 2024/25 Actual Assessment 033-391-516-000 Condo 1 272.81 182.54
033-391-517-000 Condo 1 272.81 182.54
033-391-518-000 Condo 1 272.81 182.54
033-391-519-000 Condo 1 272.81 182.54
033-391-520-000 Condo 1 272.81 182.54
033-391-521-000 Condo 1 272.81 182.54
033-391-523-000 Condo 1 272.81 182.54
033-391-525-000 Condo 1 272.81 182.54
033-391-526-000 Condo 1 272.81 182.54
033-391-527-000 Condo 1 272.81 182.54
033-391-529-000 Condo 2 363.75 243.40
033-391-530-000 Condo 2 363.75 243.40
033-391-601-000 Condo 2 363.75 243.40
033-391-603-000 Condo 1 272.81 182.54
033-391-604-000 Condo 1 272.81 182.54
033-391-605-000 Condo 1 272.81 182.54
033-391-606-000 Condo 1 272.81 182.54
033-391-607-000 Condo 1 272.81 182.54
033-391-608-000 Condo 1 272.81 182.54
033-391-609-000 Condo 1 272.81 182.54
033-391-611-000 Condo 2 363.75 243.40
033-391-613-000 Condo 1 272.81 182.54
033-391-614-000 Condo 1 272.81 182.54
033-391-615-000 Condo 1 272.81 182.54
033-391-616-000 Condo 1 272.81 182.54
033-391-617-000 Condo 1 272.81 182.54
033-391-618-000 Condo 1 272.81 182.54
033-391-619-000 Condo 1 272.81 182.54
033-391-620-000 Condo 1 272.81 182.54
033-391-621-000 Condo 1 272.81 182.54
033-391-623-000 Condo 1 272.81 182.54
033-391-625-000 Condo 1 272.81 182.54
033-391-626-000 Condo 1 272.81 182.54
033-391-627-000 Condo 1 272.81 182.54
033-391-629-000 Condo 2 363.75 243.40
033-391-703-000 Condo 1 272.81 182.54
033-391-704-000 Condo 1 272.81 182.54
033-391-705-000 Condo 1 272.81 182.54
033-391-706-000 Condo 1 272.81 182.54
033-391-707-000 Condo 1 272.81 182.54
033-391-708-000 Condo 1 272.81 182.54
033-391-709-000 Condo 1 272.81 182.54
Slight variances may occur due to rounding
Copyright © 2013 by NBS Page 10 of 13 04/17/2024 01:10:12PM

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Town of Mammoth Lakes
North Village BAD No. 2002-2 - Zone 1
Fiscal Year 2024/25 Assessment Roll
Assessor's Parcel Number Property Land Use Classification FY 2024/25 Max. Assessment FY 2024/25 Actual Assessment 033-391-711-000 Condo 2 363.75 243.40
033-391-713-000 Condo 1 272.81 182.54
033-391-714-000 Condo 1 272.81 182.54
033-391-715-000 Condo 1 272.81 182.54
033-391-716-000 Condo 1 272.81 182.54
033-391-717-000 Condo 1 272.81 182.54
033-391-718-000 Condo 1 272.81 182.54
033-391-719-000 Condo 1 272.81 182.54
033-391-720-000 Condo 1 272.81 182.54
033-391-721-000 Condo 1 272.81 182.54
033-391-723-000 Condo 1 272.81 182.54
033-391-725-000 Condo 1 272.81 182.54
033-391-726-000 Condo 1 272.81 182.54
033-391-727-000 Condo 1 272.81 182.54
033-392-132-000 Condo 1 272.81 182.54
033-392-136-000 Condo 1 272.81 182.54
033-392-138-000 Condo 1 272.81 182.54
033-392-140-000 Condo 2 363.75 243.40
033-392-142-000 Condo 1 272.81 182.54
033-392-144-000 Condo 1 272.81 182.54
033-392-145-000 Condo 2 363.75 243.40
033-392-146-000 Condo 2 363.75 243.40
033-392-231-000 Condo 1 272.81 182.54
033-392-232-000 Condo 1 272.81 182.54
033-392-233-000 Condo 1 272.81 182.54
033-392-234-000 Condo 1 272.81 182.54
033-392-235-000 Condo 1 272.81 182.54
033-392-236-000 Condo 1 272.81 182.54
033-392-237-000 Condo 1 272.81 182.54
033-392-238-000 Condo 1 272.81 182.54
033-392-240-000 Condo 2 363.75 243.40
033-392-241-000 Condo 1 272.81 182.54
033-392-242-000 Condo 1 272.81 182.54
033-392-244-000 Condo 1 272.81 182.54
033-392-245-000 Condo 2 363.75 243.40
033-392-246-000 Condo 2 363.75 243.40
033-392-331-000 Condo 1 272.81 182.54
033-392-332-000 Condo 1 272.81 182.54
033-392-333-000 Condo 1 272.81 182.54
033-392-334-000 Condo 1 272.81 182.54
033-392-335-000 Condo 1 272.81 182.54
033-392-336-000 Condo 1 272.81 182.54
Slight variances may occur due to rounding
Copyright © 2013 by NBS Page 11 of 13 04/17/2024 01:10:12PM

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Town of Mammoth Lakes
North Village BAD No. 2002-2 - Zone 1
Fiscal Year 2024/25 Assessment Roll
Assessor's Parcel Number Property Land Use Classification FY 2024/25 Max. Assessment FY 2024/25 Actual Assessment 033-392-337-000 Condo 1 272.81 182.54
033-392-338-000 Condo 1 272.81 182.54
033-392-340-000 Condo 2 363.75 243.40
033-392-341-000 Condo 1 272.81 182.54
033-392-342-000 Condo 1 272.81 182.54
033-392-344-000 Condo 1 272.81 182.54
033-392-345-000 Condo 2 363.75 243.40
033-392-346-000 Condo 2 363.75 243.40
033-392-431-000 Condo 1 272.81 182.54
033-392-432-000 Condo 1 272.81 182.54
033-392-433-000 Condo 1 272.81 182.54
033-392-434-000 Condo 1 272.81 182.54
033-392-435-000 Condo 1 272.81 182.54
033-392-436-000 Condo 1 272.81 182.54
033-392-437-000 Condo 1 272.81 182.54
033-392-438-000 Condo 1 272.81 182.54
033-392-440-000 Condo 2 363.75 243.40
033-392-441-000 Condo 1 272.81 182.54
033-392-442-000 Condo 1 272.81 182.54
033-392-444-000 Condo 1 272.81 182.54
033-392-445-000 Condo 2 363.75 243.40
033-392-446-000 Condo 2 363.75 243.40
033-392-531-000 Condo 1 272.81 182.54
033-392-532-000 Condo 1 272.81 182.54
033-392-533-000 Condo 1 272.81 182.54
033-392-534-000 Condo 1 272.81 182.54
033-392-535-000 Condo 1 272.81 182.54
033-392-536-000 Condo 1 272.81 182.54
033-392-537-000 Condo 1 272.81 182.54
033-392-538-000 Condo 1 272.81 182.54
033-392-540-000 Condo 2 363.75 243.40
033-392-541-000 Condo 1 272.81 182.54
033-392-542-000 Condo 1 272.81 182.54
033-392-544-000 Condo 1 272.81 182.54
033-392-545-000 Condo 2 363.75 243.40
033-392-546-000 Condo 2 363.75 243.40
033-392-631-000 Condo 1 272.81 182.54
033-392-632-000 Condo 1 272.81 182.54
033-392-633-000 Condo 1 272.81 182.54
033-392-634-000 Condo 1 272.81 182.54
033-392-635-000 Condo 1 272.81 182.54
033-392-636-000 Condo 1 272.81 182.54
Slight variances may occur due to rounding
Copyright © 2013 by NBS Page 12 of 13 04/17/2024 01:10:12PM

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report - North Village Area Benefit Assessment District 2002-2, Zone 1 11

5.3 Appendix C – Rate and Method of Apportionment
The following pages show the definitions section of the Rate and Method of Apportionment of Special Tax for the Town of Mammoth Lakes Community Facilities District No. 2001-1 (North Village Area).

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RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX

TOWN OF MAMMOTH LAKES
COMMUNITY FACILITIES DISTRICT NO. 2001-1 (NORTH VILLAGE AREA)

DEFINITIONS
The terms used herein shall have the following meanings:
“Acreage” or “Acre” means that acreage shown on the Assessor’s Parcel Map for each Assessor’s Parcel. In the event that the Assessor’s Parcel Map shows no acreage, the Acreage for any Assessor’s Parcel shall be determined by the CFD Administrator based upon the applicable condominium plan, final map or parcel map.
“Act” means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2 of Title 5 of the Government Code of the State of California. “Administrative Expenses” means the following actual or reasonably estimated costs directly related to the administration of the CFD No. 2001-1: the costs of computing the Special Tax Requirement and the annual Special Tax and of preparing the annual Special Tax collection schedules; the costs of collecting the Special Taxes; the costs of remitting the Special Taxes to the fiscal agent or trustee for any Bonds; the costs of the fiscal agent or trustee (including its legal counsel) in the discharge of the duties required of it under any Indenture; the costs of the Town or designee in complying with the disclosure requirements of applicable federal and state securities laws and the California Government Code (including the Act), including public inquiries regarding the Special Taxes, the costs associated with the release of funds from any escrow account (to the extent not paid from other sources); the costs of the Town or designee related to an appeal of the Special Tax and an allocable share of the salaries and an allocable portion of Town overhead costs relating to the foregoing; the costs of the Town or designee related to any rebate calculations for the CFD No. 2001-1; the costs of commencing and pursuing to completion any foreclosure action arising from delinquent Special Taxes in the CFD No. 2001-1; the costs of the Town (including its legal counsel) related to the administration of any letter of credit or other security provided for the payment of Special Taxes or Bonds, any fees or expenses related to any such letters of credit. Administrative Expenses shall also include amounts advanced by the Town for any administrative purposes of the CFD No. 2001-1.
“Affordable Housing” means all property deemed as such by reference to the “Housing Policies” in the “Housing Element” section set forth in the North Village Specific Plan. “Apartment Property” means all Taxable Property, exclusive of Condominiums and Hotel Property, for which a final occupancy permit(s) for building(s) containing attached residential units has been issued as of the January 1 preceding the Fiscal Year for which the Special Tax is being levied but not prior to January 1, 2001.
“Assessor’s Parcel” means a lot or parcel shown in an Assessor’s Parcel Map with an assigned Assessor’s Parcel number.
“Assessor’s Parcel Map” means an official map of the Assessor of the County designating parcels by Assessor’s Parcel number.
“Association Property” means any area designated as community association property or condominium association property on a condominium plan recorded in the Office of the County Recorder and/or any property deeded to or owned by The Village at Mammoth Community Association, any other applicable master association, or any condominium owners association.

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“Bonds” means any bonds or other indebtedness (as defined in the Act), whether in one or more series, secured by the levy of Special Taxes within the CFD No. 2001-1. “CFD Administrator” means an official of the Town, or designee thereof, responsible for determining the Special Tax Requirement and providing for the levy and collection of Special Taxes. “Commercial Units” mean all Condominiums, exclusive of Conference Space Units, designed for use for general commercial uses and/or property management uses as shown on a condominium plan recorded in the Office of the County Recorder.
“Common Area” means any area designated as such on a condominium plan recorded in the Office of the County Recorder, including any common area for the exclusive use of one or more owners. “Condominium” means any element designated as a unit in a condominium plan which was recorded as of the January 1 preceding the Fiscal Year for which the Special Tax is being levied but not prior to January 1, 2001.
“Conference Space Units” means any Condominium, exclusive of Residential Units, designed for the primary purpose of providing meeting or conference space. “Council” means the Town Council of the Town of Mammoth Lakes, acting as the legislative body of the CFD No. 2001-1.
“County” means the County of Mono, California.
“Developed Property” means, collectively, Residential Units, Commercial Units, Hotel Property, Apartment Property, and Other Commercial Property excluding the Residual Parcel. “Equivalent Bedroom Unit” or “EBU” means the factor for use in calculating the Special Tax where one EBU is equal to one (1) bedroom or in the case of Commercial Units and Other Commercial Property 450 Square Feet.
“Exempt Property” means all property located within the boundaries of the CFD No. 2001-1 which is exempt from the Special Tax pursuant Section E below.
“Fiscal Year” means the period starting on each July 1 and ending on the following June 30. “Gondola Parcel” means that Assessor’s Parcel for which a building permit for construction of the bottom terminal of a gondola has been issued as of the January 1 preceding the Fiscal Year for which the Special Tax is being levied but not prior to January 1, 2001. “Hotel Property” means all Taxable Property, exclusive of Condominiums and Apartment Property, for which a final occupancy permit(s) for (i) a place of lodging that provides sleeping accommodations and related facilities for travelers or (ii) a vacation or resort club (where ownership/membership interest in such club are evidenced by points, share or other interests that entitle the owners/members to occupy rooms on some periodic basis) has been issued as of the January 1 preceding the Fiscal Year for which the Special Tax is being levied but not prior to January 1, 2001. “Indenture” means the indenture, fiscal agent agreement, trust agreement, resolution or other instrument pursuant to which Bonds are issued, as modified, amended and/or supplemented from time to time, and any instrument replacing or supplementing the same. “Maximum Special Tax” means the maximum Special Tax, determined in accordance with Section C that can be levied by the Council in any Fiscal Year on any Assessor’s Parcel.

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“Other Units” means all Condominiums not classified as Residential Units or Commercial Units as shown on a condominium plan recorded in the Office of the County Recorder. “Other Commercial Property” means all Taxable Property exclusive of Condominiums, Hotel Property, Apartment Property, and the Gondola Parcel for which a building permit has been issued as of the January 1 preceding the Fiscal Year for which the Special Tax is being levied but not prior to January 1, 2001.
“Public Property” means property within the boundaries of the CFD No. 2001-1 owned by, irrevocably offered or dedicated to, or for which an easement for purposes of public or private road right-of-way has been granted to the federal government, the State of California, the County, the Town, or any local government or other public agency, provided that any property leased by a public agency to a private entity and subject to taxation under Section 53340.1 of the Act shall be taxed and classified according to its use.
“Residential Units” mean all Condominiums designed for use for residential purposes as shown on a condominium plan recorded in the Office of the County Recorder and all Time Share Units. “Residual Parcel” means Assessor’s Parcel 33-041-05. However, if the aforementioned Assessor’s Parcel is renumbered, consolidated, and/or then subdivided, the Residual Parcel shall be the subsequent Assessor’s Parcel containing more Acreage attributable to 33-041-05 than any other subsequent Assessor’s Parcel, or if a condominium plan is recorded on Assessor’s Parcel 33-041-05, the Residual Parcel shall be the Commercial Unit with the greatest amount of Square Feet. “Special Tax” means the Special Tax to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Special Tax Requirement.
“Square Feet” means for Commercial Units, the square footage as indicated on the recorded condominium plan and for Other Commercial Property, means the total of the gross area of the floor surfaces within the exterior wall of the building, not including space devoted to stairwells, basement storage, required corridors, public restrooms, elevator shafts, light courts, vehicle parking and areas incident thereto, mechanical equipment incidental to the operation of such building, and covered public pedestrian circulation areas, including atriums, lobbies, plazas, patios, decks, arcades and similar areas, except such public circulation areas or portions thereof that are used solely for commercial purposes.

The determination of Square Feet shall be made by reference to appropriate records kept by the Community Development Department.
“Special Tax Requirement” means (A) that amount with respect to the CFD No. 2001-1 determined by the Council or designee as required in any Fiscal Year to pay: (1) the Administrative Expenses, (2) regularly scheduled debt service for the calendar year which commences in such Fiscal Year on any outstanding Bonds, (3) any amount required to replenish any reserve fund established in connection with Bonds, (4) for reasonably anticipated delinquent Special Taxes based on the delinquency rate for Special Taxes levied in the previous Fiscal Year, (5) the costs of remarketing, credit enhancement and liquidity facility fees (including such fees for instruments that serve as the basis of a reserve fund in lieu of cash related to any such indebtedness), (6) directly for acquisition or construction of facilities eligible to be financed by the CFD No. 2000-1 under the Act; and less (B) available funds as directed under the Indenture.
“Taxable Property” means all property located within the boundaries of the CFD No. 2001-1 which is not exempt from the Special Tax pursuant to Section E below. “Time Share Unit” means all Condominiums (i) designated for time share use as shown on a condominium plan recorded in the Office of the County Recorder or (ii) where a Condominium owner receives the right to the recurrent or exclusive use or occupancy of a Condominium annually or on some

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other periodic basis, for a period of time that has been or will be allotted from the use or occupancy periods into which the Condominiums have been divided.
“Town” means the Town of Mammoth Lakes.
“Undeveloped Property” means all Taxable Property not classified as Developed Property or the Gondola Parcel.

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1 TOWN COUNCIL STAFF REPORT
Title: Conduct the public hearing and adopt the Resolution ordering the levy and collection of assessments within Benefit Assessment District No. 2014-1 (Mammoth View).

Meeting Date: June 19, 2024
Prepared by: Pam Smitheman, Assistant Engineer
RECOMMENDATION:

Staff recommends that Town Council conduct the public hearing and after receiving the staff report, public testimony, and deliberation adopt the attached Resolution ordering the levy and collection of assessments within the Mammoth View Benefit Assessment District No. 2014-1 for the Fiscal Year 2024/25.

BACKGROUND:

On May 15, 2024, the Town Council adopted a resolution initiating proceedings for and declaring its intention to levy and collect annual assessments for Benefit Assessment District 2014-1 (Mammoth View) for Fiscal Year 2024/25 in accordance with the Benefit Assessment Act of 1982, under which the District was formed. The resolution of intention called for this public hearing for the purpose of allowing testimony by any interested person(s). These proceedings are conducted each year in order to levy assessments against the property within the district.

ANALYSIS:

In Fiscal Year 2023/24 there were no maintenance projects done along Viewpoint Road.

The Town has considered administration costs, a long-term pavement management program, snow removal, and other maintenance for Viewpoint Road and has determined that due to current fund balances and long-term needs, it is recommended that a levy of $6,000.00 be assessed in Fiscal Year 2024/25. The maximum allowable assessment for 2024/25 is $38,591.45 and the assessment being recommended is $6,000.00 since the existing fund balance has sufficient maintenance funds and only needs additional funds for administrative costs.

FINANCIAL CONSIDERATIONS:

The Engineer's Report as prepared by NBS includes details for all Financial Considerations. In summary, the total district assessment is $6,000.00 for the 2024/25 fiscal year.

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RESOLUTION NO. 24-

A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF MAMMOTH LAKES,

STATE OF CALIFORNIA, ORDERING THE LEVY AND COLLECTION OF

ASSESSMENTS WITHIN THE SPECIAL MAINTENANCE DISTRICT BENEFIT ASSESSMENT DISTRICT NO. 2014-1 (MAMMOTH VIEW)
The Town Council of the Town of Mammoth Lakes (the “Town”) does resolve as follows:

WHEREAS, the Town Council of the Town of Mammoth Lakes (the “Town Council”), California pursuant to the terms of the Benefit Assessment Act of 1982, Title 5 Division 2, of the California Government Code (commencing with Section 54703) (hereafter referred to as the “Act”) did, approve the Annual Report (hereafter referred to as the “Report”) as presented or amended which described the assessment against parcels of land within the Benefit Assessment District designated as follows: Benefit Assessment District No. 2014-1 (Mammoth View) (hereinafter referred to as the “Maintenance District”); and WHEREAS, the engineer selected by the Town Council has prepared and filed with the Town Clerk, and the Town Clerk has presented to the Town Council, the Report in connection with the proposed levy and collection upon eligible parcels of land within the Maintenance District, and the Town Council did by previous resolution approve such Report; and WHEREAS, the Town Council desires to levy and collect assessments against parcels of land within the Maintenance District for the fiscal year commencing July 1, 2024 and ending June 30, 2025, to pay the costs and expenses of operating, maintaining, and servicing the improvements within the Maintenance District; and
WHEREAS, the assessment rates within the Maintenance District are exempt from the assessment balloting procedures set forth in Proposition 218 because the Maintenance District was formed by consent of the land owners, and the proposed assessments per lot or parcel are not proposed to increase by more than the assessment rates approved by the landowners at the time of formation of the Maintenance District; and
WHEREAS, the assessment levies are not based upon the assessed value of the property within the Maintenance District, but are based upon the special benefit received by the parcels within the Maintenance District from the improvements.

NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:

1. The above recitals are all true and correct.

2. Following notice duly given, the Town Council has held a full and fair Public Hearing regarding its Resolution Approving the Report prepared in connection therewith, the levy and collection of assessments, and considered all oral and written statements, protests and communications made or filed by interested persons.

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3. Based upon its review (and amendments, as applicable) of the Report, a copy of which has been presented to the Town Council and which has been filed with the Town Clerk, the Town Council hereby finds and determines that:
(a) The land within the Maintenance District will receive special benefit by the operation, maintenance, and servicing of the improvements which include, but are not limited to: installation, upgrade, construction, or reconstruction of landscaping, street lighting, streets, sidewalks and driveways, curb and gutter, drainage facilities, and snowmelt tubing systems. The improvements also include the construction, maintenance and servicing of appurtenant facilities including, but not limited to, personnel, electrical energy, materials, contracting services, and other items necessary for the satisfactory operation of these services.
(b) The Maintenance District includes all of the lands receiving such special benefit.
(c) The net amount to be assessed upon the land within the Maintenance District in accordance with the costs for the fiscal year commencing July 1, 2024 and ending June 30, 2025 is apportioned by a formula and method which fairly distributes the net amount among all eligible parcels in proportion to the estimated special benefit to be received by each parcel from the improvements and services.
(d) The fiscal year commencing July 1, 2024 and ending June 30, 2025, a $6,000 levy will be applied to the parcels in the Maintenance District.

4. The Report and assessment as presented to the Town Council and on file in the office of the Town Clerk are hereby confirmed as filed.

5. The Town Treasurer shall deposit all money representing assessments collected by the County of Mono for the Maintenance District to the credit of a fund for the Maintenance District, and such money shall be expended only for the maintenance, operation and servicing of the landscaping and appurtenant facilities.

6. The adoption of this resolution constitutes the Maintenance District levy in the amount of $6,000 for the fiscal year commencing July 1, 2024 and ending June 30, 2025.

7. A certified copy of the levy shall be filed in the office of the Town Clerk and open for public inspection.

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PASSED, APPROVED, AND ADOPTED this 19th day of June, 2024.

Bill Sauser, Mayor
Town of Mammoth Lakes

ATTEST:

Jamie Gray, Town Clerk
Town of Mammoth Lakes

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nbsgov.com
Prepared by:

Corporate Headquarters
32605 Temecula Parkway, Suite 100
Temecula, CA 92592
Toll free: 800.676.7516
Fiscal Year 2024/25 Engineer’s Report For:

Benefit Assessment District No. 2014-1
(Mammoth View)
April 2024

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View)

TABLE OF CONTENTS

1. EXECUTIVE SUMMARY .................................................................................................... 1

2. PLANS AND SPECIFICATIONS ........................................................................................... 2

2.1 Description of the Boundaries of the District ......................................................... 2

2.2 Description of District Maintenance Activities ....................................................... 2

3. ESTIMATED COSTS .......................................................................................................... 3

3.1 District Budget ......................................................................................................... 3

3.2 Definitions of Budget Items ..................................................................................... 4

4. SPECIAL AND GENERAL BENEFIT ...................................................................................... 5

4.1 Identification of Benefit .......................................................................................... 5

4.2 Separation of General Benefit ................................................................................. 6

4.3 Quantification of General Benefit ........................................................................... 7

4.4 Apportioning of Special Benefit ............................................................................ 10

5. METHOD OF ASSESSMENT ............................................................................................ 15

5.1 Method of Assessment Spread ............................................................................. 15

5.2 Cost of Living Inflator ............................................................................................ 15

5.3 Assessment Budget ............................................................................................... 16

6. APPENDICES ................................................................................................................. 17

6.1 Appendix A – Assessment Diagram ....................................................................... 18

6.2 Appendix B – Assessment Roll .............................................................................. 19

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 1

1. EXECUTIVE SUMMARY
WHEREAS, the Town Council of the Town of Mammoth Lakes (the “Town”) previously established the Benefit Assessment District No. 2014-1 (Mammoth View) (the “District”) in 2014 pursuant to the Benefit Assessment Act of 1982; and
WHEREAS, the Town desires to provide for the levy and collection of District assessments for the Fiscal Year 2024/25; and
WHEREAS, the Town has directed NBS to prepare and file an annual report describing the general nature, location and extent of the improvements to be maintained, an estimate of the costs of the maintenance, operations and servicing of the improvements, a diagram showing the area and properties to be assessed, and an estimate of the costs of the maintenance, operations and servicing the improvements, assessing the net amount upon all assessable lots and/or parcels within the District in proportion to the special benefit received.

NOW THEREFORE, the following assessment, levied in accordance with the assessment methodology adopted and approved by the Town Council at the time of District formation, is made to cover the portion of the estimated costs of maintenance, operation, and servicing of said improvements to be paid by the assessable real property within the District in proportion to the special benefit received:

SUMMARY OF ASSESSMENT
Description Amount
Total District Budget $6,000.00
Less: Town General Benefit Contribution 0.00
Less: Additional Contribution 0.00
Plus: Contribution from District Funds 0.00
Balance to Assessment $6,000.00

Total Special Benefit Points 326.41
Fiscal Year 2024/25 Maximum Assessment Rate Per Special Benefit Point $118.23

Fiscal Year 2024/25 Actual Assessment Rate Per Special Benefit Point $18.38

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 2

2. PLANS AND SPECIFICATIONS
The District will provide for the ongoing maintenance, servicing, and administration of road, emergency access area, and sidewalk improvements all located within the public right-of-way and dedicated easements or the emergency access area within the boundaries of the District. The Mammoth View project developer and the Town funded and constructed the District improvements to be maintained.

2.1 Description of the Boundaries of the District
The District is located within the boundaries of the Town. The District is generally bounded by Main Street on the south, on the northeast by Alpine Circle, on the east by Mountain Boulevard, and on the west near Minaret Road. The District boundaries include the Mammoth View project and the Viewpoint condominiums, as well as the public improvements including Viewpoint Road, the emergency access area, and a portion of the Main Street sidewalks. The District will not provide maintenance and service activities to improvements located outside of the District boundaries.

Section 6 of this Engineer’s Report provides an assessment diagram that more fully provides a description of the parcels within the District’s boundaries.

2.2 Description of District Maintenance Activities
The improvements maintained by the District include Viewpoint Road, the Viewpoint condominium emergency access area located to the north of the Viewpoint condominiums, sidewalks fronting the District along Main Street, Mountain Boulevard, and Alpine Circle, and appurtenant facilities located throughout the District, which are of direct and special benefit to the parcels within the District. The District improvements are located within the street public rights-of-way and dedicated public easements or the emergency access area which are all within the boundaries of the District.

The District maintenance activities may include but are not limited to, all of the following: maintenance of Viewpoint Road and the emergency access area, including the emergency access area traffic control management device (e.g. gate), snow management, including the melting, removal, and hauling, summer sidewalk sweeping, hardscape and landscape maintenance, street lights, monument and directional sign maintenance, banner maintenance, and the upkeep, repair, removal or replacement of all or any part of any improvement. The District services include all necessary service, operations and administration required to keep the District improvements in an operational and satisfactory condition. Services provided include all necessary service, operations and administration required to keep the improvements in an operational and satisfactory condition. The District maintenance and services shall also include material, vehicle, equipment, capital improvements and administrative costs associated with the annual administration and operation of the District.

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 3

3. ESTIMATED COSTS

3.1 District Budget
The estimated costs of maintaining, servicing, and administering of the District improvements as described in Section 2 are outlined below. Each year, as part of the District assessment levy calculation process, the costs and expenses are reviewed, and the annual costs are projected for the following fiscal year.

The Fiscal Year 2024/25 estimated cost budget for maintaining, servicing, and administering the District improvements is shown in the following table:

Description
Proposed
Fiscal Year
2024/25 Costs
Annual Maintenance Costs
Snow Management $0.00
Summer Sidewalk Sweeping 0.00
Landscape Maintenance 0.00
Street Maintenance 0.00
Subtotal Annual Maintenance Costs $0.00
Major Maintenance Costs
Slurry Seal – Accrual $0.00
Asphalt – Accrual 0.00
Landscape Improvements 0.00
Subtotal Major Maintenance Costs $0.00
Administration Costs
Personnel/Overhead/Consultant $6,000.00
Subtotal Administration Costs $6,000.00
Total District Budget $6,000.00
Less: Town General Benefit Contribution $0.00
Less: Additional Contribution 0.00
District Property Owner Participation and Reserves $0.00 Less: Contribution from District Funds $0.00
Fiscal Year 2024/25 District Assessment $6,000.00

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 4

3.2 Definitions of Budget Items
The following definitions describe the services and costs included in the District budget:

3.2.1 MAINTENANCE COSTS
Snow Management: Includes the clearing and hauling of snow from the District improvements and sidewalks snowmelt expenses. The annual snow management budget is based upon a 200-inch snow year.

Summer Sidewalk Sweeping: Includes sweeping of the sidewalk improvements during the summer months.

Landscape Maintenance: Includes the required landscaping maintenance costs necessary for a contractor or Town staff member to maintain landscaped areas and irrigation; including aesthetic treatment and replacement of landscaping, as necessary.

Street Maintenance: Includes the required maintenance costs necessary for a contractor or Town staff to maintain the street improvements of Viewpoint Road and the emergency access area, including the power of streetlights, annual asphalt repair, striping of the road, maintenance of road signs, maintenance of retaining walls, maintenance of guard rails, curb, gutter, sidewalk, and sweeping, as necessary.

Slurry Seal - Accrual: Includes the accrual for costs to provide for periodic asphalt sealing of the street improvements within the District. The asphalt sealing has a finite life expectancy and will need to be completed approximately every six years in the future.

Asphalt - Accrual: Includes the cost to provide for periodic asphalt replacement of the street improvements within the District. The asphalt has a finite life expectancy and will need to be replaced approximately every 15 years in the future.

Fog seal – Accrual: Includes the accrual for costs to provide for periodic fog seal treatment of the asphalt of the street improvements within the District. The asphalt fog seal has a finite life expectancy and will need to be completed approximately every three years. Every six years the asphalt will be slurry sealed, rather than fog sealed.

3.2.2 ADMINISTRATION COSTS
Personnel/Overhead/Consultant: This item includes the cost to all particular departments and staff of the Town, and consultants for providing the administration, coordination and management of District services, operations, and incidental expenses related to the District. This item also includes creation of an annual engineer’s report, resolutions and placing the assessment amounts onto the Mono County (the “County”) tax roll each year, along with responding to any public inquiries.

3.2.3 GENERAL BENEFIT
Town Contribution for General Benefit: The Town contributes 2.52% of the direct annual maintenance cost.

Additional Contribution: In addition to the general benefit contribution, the Town is providing additional contributions to the District when funds are provided from the Gas Tax Fund for services provided in the District.

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 5

4. SPECIAL AND GENERAL BENEFIT
Pursuant to Article XIIID, all parcels that receive a special benefit conferred upon them as a result of the maintenance of the improvements shall be identified, and the proportionate special benefit derived by each identified parcel shall be determined in relationship to the entire costs of the maintenance of the improvements. The Benefit Assessment District Act of 1982, commencing with Section 54703 of the Government Code, permits the establishment of assessment districts by local agencies for the purpose of providing services which benefit individual properties for those services which confer special benefit upon the properties to which the services are being provided.

Section 54711(1) of the Benefit Assessment District Act of 1982 requires that assessments must be levied according to benefit, this Section states:
"The amount of the assessment imposed on any parcel of property shall be related to the benefit to the parcel which will be derived from the provision of the service." Article XIIID, Section 4(a) of the California Constitution limits the amount of any assessment to the proportional special benefit conferred on the property. Article XIIID also provides that publicly owned properties must be assessed unless there is clear and convincing evidence that those properties receive no special benefit from the assessment. Examples of parcels exempted from the assessment would be the areas of public streets, public avenues, public lanes, public roads, public drives, public courts, public alleys, public easements and rights-of-ways, public greenbelts, and public parkways.

Furthermore, Proposition 218 requires that the Town separate the general benefit from special benefit, so that only special benefit may be assessed to properties within the District.

4.1 Identification of Benefit
The ongoing maintenance, servicing and operation of the District improvements will provide benefits to both those properties within the District boundaries and to the community as a whole. The snow cleared and year-round maintained improvements will provide an increased level of access for residents, guests, and emergency vehicles, and will also provide a safety benefit to property and people throughout the District. The following benefits will be provided as a result of the District maintenance activities:

Viewpoint Road Access
 The maintenance activities will provide for clear and safe vehicular access to and from those District properties accessed via Viewpoint Road.
 An improved and maintained Viewpoint Road, which meets the Town’s standards for maintenance, allows for more efficient and improved access to property by emergency service providers in the event of a fire, medical emergency, or natural disaster.  Viewpoint Road does not include sidewalks, therefore, a snow cleared and maintained road will provide safe pedestrian passage from properties accessed from Viewpoint Road to sidewalks located along Main Street.
 The snow cleared and maintained Viewpoint Road will minimize the number of vehicular accidents and pedestrian trip and fall occurrences potentially occurring along Viewpoint Road.

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 6 Emergency Access Area
 The maintained emergency access area will improve the access and potentially the response times to properties served by this alternative access point by emergency service providers in the event of a fire, medical emergency, or natural disaster.  Regular maintenance and repairs to the emergency access area will ensure that this access area does not reach a state of deterioration or disrepair so as to be materially detrimental to properties that are serviced by this emergency access point.

Pedestrian Safety
 The maintained sidewalks will provide for clear and safe access to and from District properties, as well as provide for safe pedestrian passage through the District.  The snow cleared and maintained sidewalk improvements will minimize the number of future trip and fall occurrences potentially occurring on sidewalks within the District.  Well-maintained sidewalks provide a separation between vehicle and pedestrian as well as property and pedestrian, which provides a safety benefit for both property and pedestrian.

The U.S. Department of Transportation Federal Highway Administration (FHWA, n.d.) notes that annually, around 4,500 pedestrians are killed in traffic crashes with motor vehicles in the United States. Pedestrians killed while "walking along the roadway" account for almost 8 percent of those deaths. Providing safe walkways separated from the travel lanes could help to prevent up to 88 percent of these "walking along roadway” crashes (FHWA, n.d.).

As a result of the collective improvements being maintained, the overall livability of the District will increase. Livability encompasses several qualities and characteristics that are unique to a specific area. The Victoria Transport Policy Institute (2011) expands on the concept of livability and the various benefits associated with that designation:
“The livability of an area increases property desirability and business activity. Livability is largely affected by conditions in the public realm, places where people naturally interact with each other and their community, including streets, parks, transportation terminals and other public facilities. Livability also refers to the environmental and social quality of an area as perceived by employees, customers, and visitors. This includes local environmental conditions, the quality of social interactions, opportunities for recreation and entertainment, aesthetics, and existence of unique cultural and environmental resources.”

4.2 Separation of General Benefit
Section 4 of Article XIIID of the California Constitution provides that once a local agency which proposes to impose assessments on property has identified those parcels that will have special benefits conferred upon them and upon which an assessment will be imposed, the local agency must next “separate the general benefits from the special benefits conferred,” and only the special benefits can be included in the amount of the assessments imposed.

General benefit is an overall and similar benefit to the public at large resulting from the maintenance activities to be provided by the assessments levied. The improvements to be maintained by the District will be constructed and located within the District boundaries only. There will be no District maintenance activities provided for improvements located outside of the District boundaries.

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 7 The maintained improvements will provide benefits to the property within the District, but it is recognized that the ongoing District maintenance activities will also provide a level of benefit to those passing through the District to access property outside of the District. Traffic from property within and outside of the District as well as individuals passing through the District area will be able to utilize the maintained improvements to not only access property located within a close proximity to the District, but also property located outside of the District. Therefore, the general benefit created as a result of the District maintenance activities has been considered.

4.3 Quantification of General Benefit
In order for property within the District to be assessed only for that portion of special benefit received from the District maintenance activities, the general benefit provided by the ongoing maintenance of the improvements needs to be quantified. The amount of general benefit that is provided from the District maintenance activities cannot be funded via property owner assessments within the District.

4.3.1 VIEWPOINT ROAD ACCESS GENERAL BENEFIT
From a visual inspection of the layout of Viewpoint Road within the District one must conclude that the purpose of Viewpoint Road is exclusively intended for the benefit of accessing property. Viewpoint Road is not a through street and, therefore, does not provide a direct means of traveling from one place to another such that one would reasonably expect a driver to purposefully choose Viewpoint Road as the best route for travel through the Town unless that travelled route began or ended with a parcel accessed from Viewpoint Road. A route beginning or ending with a parcel accessed from Viewpoint Road does not include the “general public” for purposes of determining general benefit. Given the location of Viewpoint Road to Main Street, there are bound to be drivers that will make limited use of Viewpoint Road. Drivers may accidentally turn onto Viewpoint Road in search of a property that is not located off of Viewpoint Road or drivers may potentially use Viewpoint Road to turn off of Main Street with the intent of turning around or going back from where they came. This potential traffic traveling along Viewpoint Road would be considered to be of general benefit. As expressed by the Court in Beutz v. County of Riverside (2010), “... courts of this state have long recognized that virtually all public improvement projects provide general benefits." A conservative estimate of 1.00% is assigned as the general benefit portion of the benefits resulting from the maintenance activities related to Viewpoint Road. Therefore, the general benefit provided by the ongoing maintenance of Viewpoint Road is 1.00% and the special benefit provided by the ongoing maintenance is estimated to be 99.00%.

Viewpoint Road Access General Benefit 1.00%

4.3.2 EMERGENCY ACCESS AREA GENERAL BENEFIT
Based on the intended purpose of the emergency access area within the District one must conclude that the purpose of emergency access area is exclusively intended for the benefit of property accessed via this area. The emergency access area is not a normal route of travel and is intended to be used by emergency vehicles that need to access property in case of an emergency. However, there may be a minimal level of pedestrian traffic that utilizes the emergency access area to pass through the District for recreational purposes or to access property outside of the District. Again, as expressed by the Court in Beutz v. County of Riverside (2010), “... courts of this state have long recognized that virtually all public improvement

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 8 projects provide general benefits." A conservative estimate of 1.00% is assigned as the general benefit portion of the benefits resulting from the District maintenance of the emergency access area. Therefore, the general benefit provided by the ongoing maintenance of emergency access area is 1.00% and the special benefit is estimated to be 99.00%.

Emergency Access Area General Benefit 1.00%

4.3.3 PEDESTRIAN SAFETY GENERAL BENEFIT
As a result of the District maintenance activities, there will be a level of general benefit to pedestrians and others who do not reside within the District. There will be pedestrian traffic generated from property outside of the District that will utilize the maintained sidewalks in order to pass through the District and access property located outside of the District boundaries. In addition to accessing property located outside of the District, there will also be a level of pedestrian activity that will utilize the maintained sidewalks for leisure and fitness activities. Pedestrians will incorporate the maintained and safe sidewalks into their leisure and fitness routines, thus making the sidewalks serve as a pass-through portion of their overall route traveled. The benefit provided to property and pedestrians, as a result of the maintained sidewalks serving as a pass-through corridor, needs to be quantified.

According to the U.S. Census Bureau (2010), the Town has a permanent resident population of approximately 8,234. However, the Town attracts a significant number of tourists and according to the Town’s Pedestrian Master Plan, adopted April 16, 2014, (TOML, 2014) during peak tourist season the Town’s population can increase to as many as 35,000 people. The Town’s 2007 General Plan (TOML, 2007) identifies that the non-permanent residential units accommodate 4 persons per unit on average. Based on this average person per unit size for the Town and considering there are 162 residential units within the District, there are approximately 648 people that could reside within the District boundaries at peak tourist season.

Population Area Population
Peak Tourist Season Town Population 35,000
Peak Tourist Season District Population (1) 648
(1) Based on 162 District residential units multiplied by 4.0 persons per unit.

In order to determine the utilization of the sidewalks within the Town and District, data from the Summary of Travel Trends, 2009 National Household Travel Survey (NHTS) prepared by the U.S. Department of Transportation Federal Highway Administration (FHWA, 2011) was used, including the analysis of the number of person trips by various modes of transportations such as private vehicle, transit, walking or some other means of transportation. According to the Mountain Division data extracted from the 2009 NHTS database, of the annual 29,017 (in millions) total person trips, 2,663 (in millions) or 9.17% of those person trips were made by using walking as their mode of transportation (FHWA, 2011). Applying this percentage, to the populations listed above, the following table provides the number of persons that would utilize walking as the typical mode of transportation during the Town’s peak tourist season:

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 9 Population Area Population
Population w/Walking
as Typical Mode of
Transportation (1)
Peak Tourist Season Town Population 35,000 3,212
Peak Tourist Season District
Population 648 59
(1) Population multiplied by 9.17%.

To further quantify the non-District population that uses walking as the mode of transportation, the District population needs to be excluded from the total population figure of 3,212 identified above.

Therefore, the adjusted population, located outside of the District boundaries, that uses walking as the mode of transportation is 3,153 people.

Population Area Population
Population
w/Walking
as Mode of
Transportation (1)
Peak Tourist Season Town Population 35,000 3,212
Less District Boundary Population (648) (59)
Non-District Population Totals: 34,352 3,153
(1) Population multiplied by 9.17%.

In order to obtain a better picture of the overall level of general benefit provided by the maintained District sidewalk improvements, the pedestrian traffic that utilizes walking as the mode of transportation that will seek out and use the sidewalks within the District’s boundaries, but reside outside of the District, must be considered. The 2009 NHTS further details the purposes of the 2,663 (in millions) reported Mountain Division walking trips. Based on the residential/lodging property types within the District, people outside of the District would utilize the District sidewalks for the following reasons: shopping, dining, errands, walk to school, day care or religious activity, personal/family business, and appointments, social or recreational activities, and other.

The following table details the number of walking trips, based on the 2009 NHTS study, for each of the activities that are the most likely reasons people outside of the District would use the sidewalk improvements within the District:

Trip Purpose
Number of Walking
Trips
(in millions)
Shopping/Dining/Errands 529
School/Daycare/Religious activity 135
Personal/Family Business 173
Social/Recreational 709
Do not know/Other 69
Total 1,615
Of the total number of walking trips reported in the 2009 NHTS, 1,615 (in millions) or 60.65% are for purposes that persons outside of the District would utilize the sidewalk improvements within the District.

Applying this percentage (60.65%) to the number of people using walking as their mode of transportation

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 10 and that reside outside of the District (3,153), but use the sidewalks within the District, there are approximately 1,912 people using the maintained sidewalks to engage in general benefit activity.

Description Population
Non-District population utilizing walking as the
typical mode of transportation 3,153
% of 2009 NHTS walking trips representing
activities outside of the District 60.65%
Non-District population engaging in general
benefit activities 1,912
The number of persons engaging in general benefit activities represents 5.57% of the Town’s total peak tourist season population, of 34,352 previously identified above, and is therefore considered to be District general benefit.

Sidewalk General Benefit 5.57%
Therefore, the general benefit provided by the ongoing maintenance of the District sidewalks is 5.57% and the special benefit is estimated to be 94.43%.

4.3.4 COLLECTIVE GENERAL BENEFIT
Since the District is comprised of benefits resulting from a blend of maintained improvements (Viewpoint Road, emergency access area, and sidewalks), the activity of both pedestrians and vehicles must be addressed in a collective form rather than independently. Therefore, the arithmetic mean of the general benefit percentages has been used to quantify the overall level of general benefit for the District.

This general benefit result is provided in the table below:

Viewpoint Road Access General Benefit 1.00%
Emergency Access Area General Benefit 1.00%
Pedestrian Safety General Benefit 5.57%
Total District General Benefit 2.52%
The general benefit, which is the percentage of the total maintenance budget that must be funded through sources other than assessments, is 2.52%. The special benefit then, which is the percentage of the maintenance budget that may be funded by assessments, is 97.48%.

4.4 Apportioning of Special Benefit
As outlined above, each of the parcels within the District is deemed to receive special benefit from the ongoing District maintenance activities. Each parcel that has a special benefit conferred upon it as a result of the ongoing District maintenance activities is identified and the proportionate special benefit derived by each identified parcel is determined in relationship to the District maintenance costs.

The District is comprised of two primary developments: Viewpoint condominiums and the Mammoth View project. However, the Mammoth View project can be further allocated into two categories: The Summit

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 11 properties and the Basecamp properties. The Summit properties include the 12 condominium units and 28 condominium cabin units that are accessed from Viewpoint Road. The Basecamp properties include the 12 condominium units and the hotel that are accessed from Mountain Boulevard and Alpine Circle.

4.4.1 BENEFIT POINTS ASSIGNMENT
Viewpoint Road Access Benefit Points Assignment: Viewpoint Road serves as the primary access point for the Viewpoint condominiums and the Summit properties. Vehicles and pedestrians will travel the entire length of the maintained Viewpoint Road to access the Summit properties. To account for the benefit that the Summit properties receive from having the entire length of Viewpoint Road maintained by the District, Summit properties are assigned 1.0 benefit point. However, access to the Viewpoint condominiums only requires vehicles and pedestrians to travel approximately 351 feet of the total 525-foot Viewpoint Road.

Since the Viewpoint condominiums utilize approximately 65% of the maintained Viewpoint Road, they are assigned 0.65 benefit points for the benefits received from that portion of the maintained Viewpoint Road used to access their properties. There is no vehicular access from Viewpoint Road to the Basecamp properties. However, pedestrian traffic from the Basecamp properties has been considered. The Mammoth View project is designed, and has pedestrian walkways, for residents and guests to use the various amenities located throughout the entire project. Pedestrians may utilize these walkways to access Viewpoint Road to in order to travel outside of the District via Viewpoint Road. To recognize the potential pedestrian traffic along Viewpoint Road from the Basecamp properties, 0.25 benefit points are assigned to Basecamp properties for the benefit received from the Viewpoint Road maintenance activities. Common areas located throughout the Viewpoint condominiums and Mammoth View project are deemed to receive no benefit from the Viewpoint Road maintenance activities. The following table provides the benefit points assigned to the property location classifications within the District.

Property Location Classification
Viewpoint Road
Access Benefit
Point Assignment
Summit Properties 1.00
Basecamp Properties 0.25
Viewpoint Condominiums 0.65
District-wide Common Areas 0.00
Emergency Access Area Benefit Points Assignment: The emergency access area serves as the secondary emergency access point primarily for the Viewpoint condominiums should residents and emergency vehicles be prevented from accessing the Viewpoint condominiums via Viewpoint Road. A well-maintained and easily accessed emergency corridor will provide a quick and efficient route for emergency vehicles to access the Viewpoint condominium properties. To recognize the benefit from having a year-round maintained emergency access area, Viewpoint condominiums are assigned 1.0 benefit point. While the emergency access area is designed to serve the Viewpoint condominiums it also provides benefit to both the Summit properties and the Basecamp properties. Due to the location of the Summit properties, it would be difficult for large emergency vehicles to access the Summit properties via the emergency access area. However, smaller emergency vehicles could access the Summit properties and provide emergency services, if needed. Further, the Summit properties’ residents can utilize the Mammoth View project’s walkways to vacate the Summit properties area and relocate over to the Basecamp properties area.

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 12 Therefore, to recognize the reduced benefit that the Summit properties receive from the emergency access area compared to the Viewpoint condominiums’ benefit received, 0.75 benefit points have been assigned. There is no vehicular access for smaller emergency vehicles to drive to the Basecamp properties from the emergency access area. However, the Basecamp properties are located at a lower elevation than the Summit properties. This lower elevation would allow for fire services to battle fires and provide emergency assistance from the higher Summit properties position. Further, emergency personnel could access the Basecamp properties on foot from the Summit properties area by utilizing the Mammoth View project’s walkways. To account for this limited benefit received from the emergency access area, the Basecamp properties are assigned 0.25 benefit points. Common areas located throughout the Viewpoint condominiums and Mammoth View project are deemed to receive no benefit from the emergency access area maintenance activities.

The following table provides the benefit points assigned to the property location classifications within the District.

Property Location Classification
Emergency Access
Area Benefit
Point Assignment
Summit Properties 0.75
Basecamp Properties 0.25
Viewpoint Condominiums 1.00
District-wide Common Areas 0.00
Pedestrian Safety Benefit Points Assignment: The maintained District sidewalks are located along Main Street, Mountain Boulevard, and Alpine Circle. People from the Basecamp properties can quickly and conveniently access the sidewalks from several area locations along Mountain Boulevard and Alpine Circle.

To account for the close proximity to the sidewalks and convenience for these properties to access the maintained sidewalks, Basecamp properties are assigned 1.0 benefit point. Access to the sidewalks from the Summit properties requires residents to either travel along Viewpoint Road or first travel the Mammoth View project walkways to access the sidewalks. Since the Summit properties have a greater distance to travel prior to reaching the District sidewalks and have access to the sidewalks via two different points of similar distance, 0.50 benefit points are assigned. Given the location of the District sidewalks and the proximity of those sidewalks from the Viewpoint condominiums, residents will most likely access the sidewalks via Viewpoint Road instead of traveling the additional distance through the Summit properties and Basecamp properties. Therefore, to account for this single access point to the maintained District sidewalks, Viewpoint condominiums are assigned 0.25 benefit points. Common areas located throughout the Viewpoint condominiums and Mammoth View project are deemed to receive no benefit from the sidewalk maintenance activities. The following table provides the benefit points assigned to the property location classifications within the District.

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 13 Property Location Classification
Pedestrian Safety
Benefit
Point Assignment
Summit Properties 0.50
Basecamp Properties 1.00
Viewpoint Condominiums 0.25
District-wide Common Areas 0.00
By adjusting the total benefit points for each property location classification set forth above by parcel factors, a more complete picture of the proportional special benefits received by each parcel within the District is presented.

The following table provides a summary of the special benefit points assigned to each property location classification within the District.

Property Location
Classification
Viewpoint
Road Access
Benefit Point
Assignment
Emergency
Access Area
Benefit Point
Assignment
Pedestrian
Safety
Benefit Point
Assignment
Total
Benefit Point
Assignment
Summit Properties 1.00 0.75 0.50 2.25
Basecamp Properties 0.25 0.25 1.00 1.50
Viewpoint Condominiums 0.65 1.00 0.25 1.90
District-wide Common Areas 0.00 0.00 0.00 0.00

4.4.2 PARCEL FACTORS
The Town of Mammoth Lakes Travel Model Final Report (LSC, 2011) identified trip rates for various land use types throughout the Town. Of those land use types, there are three land use types within the District:

Residential High-Density (MF) – Visitor, Resort Hotel – Visitor, and Retail/Commercial. The Residential High-Density (MF) – Visitor land use type includes all of the Viewpoint condominiums, the Mammoth View townhouse condominium units, and the Mammoth View condominium cabin units. The Resort Hotel – Visitor land use type includes the 54 rooms within Mammoth View hotel. There was not a specific land use type category for restaurants. For purposes of this analysis, the property designated for restaurant use is considered to be Retail/Commercial. According to the report, the three land use types have the following trips per day assigned.

Land Use Type
Trips
per Day Per
Residential High-Density (MF) – Visitor 11.50 Unit
Resort Hotel – Visitor 12.00 Unit
Retail/Commercial 60.20 1,000 Square Feet
Utilizing the Residential High-Density (MF) – Visitor land use type as our base parcel factor of 1.00, the remaining parcel factors can be assigned based upon the approximate proportional relationship to the base parcel factor.

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 14 Land Use Type
Parcel
Factor Per
Residential High-Density (MF) – Visitor 1.00 Unit
Resort Hotel – Visitor 1.00 Room
Retail/Commercial 5.20 1,000 Square Feet
The average building square footage for the Residential High-Density (MF) – Visitor units is approximately 1,000 square feet. Therefore, there were no additional adjustments needed for the Retail/Commercial land use type obtain a proportional relationship Residential High-Density (MF) – Visitor land use type.

4.4.3 TOTAL SPECIAL BENEFIT POINTS CALCULATION
The formula below shows the total special benefit points calculation for each parcel within the District:

Parcel’s Total
Special Benefit Points =
Property Location
Classification Total
Benefit Point Assignment
X Parcel Factor

4.4.4 DATA CONSIDERATIONS AND PARCEL CHANGES
The use of the latest Assessor’s Secured Roll information has been and shall be used in the future as the basis in determining each parcel’s land use and building square footage, unless better data was or is available to the Town. In addition, if any parcel within the District is determined by the Assessment Roll to be an invalid parcel number, the land use and building square footage of the subsequent valid parcel(s) shall serve as the basis in assigning special benefit points.

4.4.5 TOTAL SPECIAL BENEFIT POINTS
The total special benefit points for the District at this time are 326.41. The total special benefit points are summarized as follows:

Property
Location Classification
Unit
Count (1)
Total
Benefit Point
Assignment
Parcel
Factor (2)
Total
Special
Benefit Points
Summit Properties 40 2.25 1.00 90.00
Basecamp Properties - Residential 66 1.50 1.00 99.00
Basecamp Properties - Retail/
Commercial 3,976 1.50 5.20 31.01
Viewpoint Condominiums 56 1.90 1.00 106.40
District-wide Common Areas N/A 0.00 0.00 0.00
Total Special Benefit Points: 326.41
(1) The Basecamp Properties – Retail/Commercial unit count represents total building square footage. (2) The Retail/Commercial parcel factor is per 1,000 building square feet.

Section 6 of this Engineer’s Report provides a detailed special benefit points breakdown for each parcel in the District.

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 15

5. METHOD OF ASSESSMENT

5.1 Method of Assessment Spread
The method of assessment is based upon a formula that assigns the special benefit to each parcel. The formulas below provide a summary of the annual assessment calculation for each parcel in the District. (A)
Parcel’s Total
Special Benefit
Points
=
(B)
Property Location
Classification Total
Benefit Point
Assignment
X
(C)
Parcel Factor
(B)
Property Location
Classification Total
Benefit Point
Assignment
=
Viewpoint Road
Access Benefit
Points
+
Emergency
Access Area
Benefit Points
+
Pedestrian Safety
Benefit Points
(C)
Parcel
Factor
Residential High-Density (MF) – Visitor = 1.00 per Unit Resort Hotel – Visitor = 1.00 per Room
Retail/Commercial = 5.20 per 1,000 Square Feet
Parcel’s
Maximum Allowable
Assessment (1)
=
Maximum
Assessment
Rate
x
(A)
Parcel’s Total Special
Benefit Points
Parcel’s
Actual Assessment =
Actual
Assessment
Rate
x
(A)
Parcel’s Total Special
Benefit Points
(1) Subject to a cost-of-living inflator.

5.2 Cost of Living Inflator
The original assessment formula states each fiscal year, beginning Fiscal Year 2015/16, the maximum allowable assessment amount may be increased by the lesser of 2.00% or the annual calendar year percentage change in the Consumer Price Index published by the U.S. Bureau of Labor Statistics for all Urban Consumers in the Los Angeles-Riverside-Orange County Area (“CPI”). If for any reason the percentage change is negative the maximum allowable assessment would not be decreased by reason of such negative percentage change and would remain at the amount as computed on the previous fiscal year regardless of any CPI adjustment. If operating costs are such that the maximum assessment amount is not needed, the Town would levy only what is needed for that year. In January 2018, the Bureau of Labor Statistics (BLS) updated their geographic areas for computing CPI. Previously, the Los Angeles-RiversideOrange County index was made up of Los Angeles, Orange, Riverside, San Bernardino, and Ventura

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 16 counties. The BLS split this index into two areas; one that represents Los Angeles and Orange counties (Los Angeles-Long Beach-Anaheim) and another that represents Riverside and San Bernardino counties (Riverside-San Bernardino-Ontario). The Town chose to use the Annual Los Angeles-Long Beach-Anaheim CPI for the calendar year for future calculations.

The annual calendar year percentage change in the CPI applicable to the Fiscal Year 2024/25 assessment is

3.47%. Therefore, the cost-of-living inflator for Fiscal Year 2024/25 is 2.00%.

5.3 Assessment Budget
In order to assess the parcels within the District for the special benefits received from the ongoing District maintenance activities, the general and special benefits must be separated. As previously quantified, the general benefit received from the District maintenance activities is 2.52%. Accordingly, 97.48% of the benefits from the District maintenance activities are considered to provide special benefits to the properties within the District and thus could be subject to assessment therein.

5.3.1 MAXIMUM ASSESSMENT RATE PER SPECIAL BENEFIT POINT The initial maximum assessment rate per special benefit point for the District was established in the Fiscal Year 2014/15 with the maximum assessment of $99.15 per Special Benefit Point. After applying the annual cost of living inflator, the maximum assessment rate per special benefit point for Fiscal Year 2024/25 is $118.23.

The following table is a historical representation of the maximum assessment rate:

Fiscal Year
Maximum
Assessment Rate
2015/16 $100.48
2016/17 101.39
2017/18 103.31
2018/19 105.37
2019/20 107.48
2020/21 109.63
2021/22 111.41
2022/23 113.64
2023/24 115.91
2024/25 118.23

5.3.2 ACTUAL ASSESSMENT RATE PER SPECIAL BENEFIT POINT
The actual assessment rate per special benefit point is calculated by dividing the total actual cost estimate to be levied in Fiscal Year 2024/25 by the total special benefit points assigned to the parcels in the District.

The following formula provides the actual assessment rate per special benefit point calculation:

Total Actual Cost Estimate to be levied / Total Special Benefit Points = Actual Assessment Rate per Special Benefit Point
$6,000.00 / 326.41 = $18.38

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 17

6. APPENDICES
Assessment Diagram A
Assessment Roll B

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 18

6.1 Appendix A – Assessment Diagram
An Assessment Diagram for the District is shown on the following page. The lines and dimensions of each lot or parcel within the District are those lines and dimensions shown on the maps of the County Assessor, at the time this report was prepared, and are incorporated by reference herein and made part of this report.

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Town of Mammoth Lakes
Fiscal Year 2024/25 Engineer’s Report- Benefit Assessment District No. 2014-1 (Mammoth View) 19

6.2 Appendix B – Assessment Roll
The assessment roll is a listing of the assessment apportioned to each lot or parcel, as shown on the last equalized roll of the County Assessor. The following tables summarize the assessments for the District:

Property Land
Use Type
Total
Special Benefit
Points
FY 2024/25
Maximum Allowable
Assessment Rate (1)
Total FY 2024/25
Maximum
Assessment
Viewpoint Condominiums 106.40 $118.23 $12,579.67
Summit Properties 90.00 118.23 10,640.70
Basecamp Properties 130.01 118.23 15,371.08
Common Area 0.00 118.23 0.00
Total (2) 326.41 $38,591.45
(1) Per Special Benefit Point
(2) Totals may be slightly off due to rounding.

Property Land
Use Type
Total
Special Benefit
Points
FY 2024/25
Actual
Assessment Rate (1)
Total
FY 2024/25 Actual
Assessment
Viewpoint Condominiums 106.40 $18.38 $1,955.63
Summit Properties 90.00 18.38 1,654.20
Basecamp Properties 130.01 18.38 2,389.58
Common Area 0.00 18.38 0.00
Total (2) 326.41 $5,999.41
(1) Per Special Benefit Point
(2) Totals may be slightly off due to rounding.

A listing of assessor’s parcels assessed within the District for Fiscal Year 2024/25, along with the assessment amounts, is on file in the office of the Town Clerk and presented on the following pages. Based on County Assessor’s secured roll data, current assessor’s parcels, including corrected and/or new assessor’s parcels, will be submitted and/or resubmitted to the County Auditor/Controller. The annual assessment amount to be levied and collected for the resubmitted parcel(s) shall be determined in accordance with the method of apportionment and assessment rate approved in this report. Therefore, if a single assessor’s parcel has a status change in development, other land use change, or subdivides into multiple assessor’s parcels, the assessment amounts applied to each of the new assessor’s parcels shall be recalculated and applied according to the approved method of apportionment and assessment rate rather than a proportionate share of the original assessment amount.

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Town of Mammoth Lakes
BAD No. 2014-1 (Mammoth View)
Fiscal Year 2024/25 Assessment Roll
Assessor's Parcel Number Benefit Points FY 2024/25 Max. Assessment FY 2024/25 Actual Assessment 033-082-006-000 10.5000 $1,241.41 $193.00
033-082-007-000 65.7564 7,774.37 1,208.72
033-082-008-000 56.0064 6,621.63 1,029.48
033-082-010-000 4.5000 532.03 82.70
033-082-011-000 36.0000 4,256.28 661.74
033-082-012-000 47.2500 5,586.36 868.54
033-083-101-000 1.9000 224.63 34.92
033-083-102-000 1.9000 224.63 34.92
033-083-103-000 1.9000 224.63 34.92
033-083-104-000 1.9000 224.63 34.92
033-083-105-000 1.9000 224.63 34.92
033-083-106-000 1.9000 224.63 34.92
033-083-107-000 1.9000 224.63 34.92
033-083-108-000 1.9000 224.63 34.92
033-083-109-000 1.9000 224.63 34.92
033-083-110-000 1.9000 224.63 34.92
033-083-111-000 1.9000 224.63 34.92
033-083-112-000 1.9000 224.63 34.92
033-083-113-000 1.9000 224.63 34.92
033-083-114-000 1.9000 224.63 34.92
033-083-115-000 1.9000 224.63 34.92
033-083-116-000 1.9000 224.63 34.92
033-083-117-000 1.9000 224.63 34.92
033-083-118-000 1.9000 224.63 34.92
033-083-119-000 1.9000 224.63 34.92
033-083-120-000 1.9000 224.63 34.92
033-083-121-000 1.9000 224.63 34.92
033-083-122-000 1.9000 224.63 34.92
033-083-123-000 1.9000 224.63 34.92
033-083-124-000 1.9000 224.63 34.92
033-083-125-000 1.9000 224.63 34.92
033-083-126-000 1.9000 224.63 34.92
033-083-127-000 1.9000 224.63 34.92
033-083-128-000 1.9000 224.63 34.92
033-083-129-000 1.9000 224.63 34.92
033-083-130-000 1.9000 224.63 34.92
033-083-131-000 1.9000 224.63 34.92
033-083-132-000 1.9000 224.63 34.92
033-083-133-000 1.9000 224.63 34.92
033-083-134-000 1.9000 224.63 34.92
033-083-135-000 1.9000 224.63 34.92
033-083-136-000 1.9000 224.63 34.92
Slight variances may occur due to rounding
Copyright © 2013 by NBS Page 1 of 2 04/15/2024 02:33:40PM

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Town of Mammoth Lakes
BAD No. 2014-1 (Mammoth View)
Fiscal Year 2024/25 Assessment Roll
Assessor's Parcel Number Benefit Points FY 2024/25 Max. Assessment FY 2024/25 Actual Assessment 033-083-137-000 1.9000 224.63 34.92
033-083-138-000 1.9000 224.63 34.92
033-083-139-000 1.9000 224.63 34.92
033-083-140-000 1.9000 224.63 34.92
033-083-141-000 1.9000 224.63 34.92
033-083-142-000 1.9000 224.63 34.92
033-083-143-000 1.9000 224.63 34.92
033-083-144-000 1.9000 224.63 34.92
033-083-145-000 1.9000 224.63 34.92
033-083-146-000 1.9000 224.63 34.92
033-083-147-000 1.9000 224.63 34.92
033-083-148-000 1.9000 224.63 34.92
033-083-149-000 1.9000 224.63 34.92
033-083-150-000 1.9000 224.63 34.92
033-083-151-000 1.9000 224.63 34.92
033-083-152-000 1.9000 224.63 34.92
033-083-153-000 1.9000 224.63 34.92
033-083-154-000 1.9000 224.63 34.92
033-083-155-000 1.9000 224.63 34.92
033-083-156-000 1.9000 224.63 34.92
62 Accounts 326.4128 $38,591.36 $5,999.70
Slight variances may occur due to rounding
Copyright © 2013 by NBS Page 2 of 2 04/15/2024 02:33:40PM

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TOWN COUNCIL STAFF REPORT
Title: Approval of Appropriations Limit, Investment Policy, and Annual Budget for Fiscal Year 24-25.

Meeting Date: June 19, 2024
Prepared by: Rob Patterson, Town Manager
RECOMMENDATION:

It is recommended that Council take the following actions:

1. Adopt a resolution establishing the Town of Mammoth Lakes appropriations limit for Fiscal Year 24-25.

2. Adopt a resolution reaffirming the Town of Mammoth Lakes Investment Policy for Fiscal Year 24-25.

3. Adopt a resolution reaffirming the Town of Mammoth Lakes Reserve Policy for Fiscal Year 24-25.

4. Adopt a resolution reaffirming the Town of Mammoth Lakes Debt Policy for Fiscal Year 24-25.

5. Adopt a resolution approving the Annual Budget for the Town of Mammoth Lakes for Fiscal Year 24-25, as presented or with Council directed modifications.

APPROPRIATION LIMIT:

The California Constitution sets limits on the amount of Tax Revenues that may be appropriated by a local government. Each year the Town must adopt a resolution setting the appropriation limit that will be applied in the adoption of the budget. The State provides guidelines for the calculation which allow the limit to be adjusted by defined factors. The Town’s limit is adjusted by the combination of the change in the County population and the California per Capita Income. The population of Mono County decreased by 2.53% and California per capita income changed by

3.62% for a combined adjustment of 1.01% for FY24-25. The appropriations limit for the Town increased from $31,910,937 to $32,229,540. The Town’s appropriation of tax revenues subject to the limit are under the allowed amount.

INVESTMENT POLICY:

Each year the staff reviews the Town’s Investment Policy and has the Council take action to reaffirm the policy and to approve any changes. Over time minor adjustments are made to the policy to better meet the needs of the Town to meet regulatory changes, to adopt best practices or to allow added flexibility in managing the Town’s portfolio. This policy has only minor adjustments for FY24-25 as investments continue to grow, pushing previously established limits.

Staff recommended edits in FY22-23 to add California Asset Management Program (CAMP) as an alternative to Local Agency Investment Fund (LAIF). Both CAMP and LAIF are similar municipal investment funds offered to municipal governments. The Pooled Money Investment

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Fiscal Year 24-25 Final Budget Page 2
Account (PMIA) offers local agencies the opportunity to participate in a major portfolio with professional investment staff at no additional cost. Both of these investment vehicles provide good returns and excellent liquidity with almost immediate access to funds. In the past two years, the Town has shifted more funds into the better performing CAMP investment with interest rates in the 5.5% range. For FY24-25, the staff is increasing the investment cap in CAMP to $50M to maximize revenue potential with more than 70% of available funds invested in this vehicle. The Town also participates in the Mono County Investment Pool, keeping all funds from the Reserve for Economic Uncertainty (REU) in this pool. All interest earned remains in the account and annual adjustments to the balance are necessary to remain in compliance with the policy. The investment cap for the Mono County Investment Pool will increase to $8,000,000 for FY24-25.

RESERVE POLICY:

The adopted reserve policy includes four elements, Reserve for Economic Uncertainty (REU), Operating Reserve (OR), Debt Reserve (DR), and Contingency. Both REU and OR are tied to a percentage of base operating revenue, which should approximate the General Fund revenue per policy. This baseline revenue is updated annually, and staff recommends an increase from $30M to $33M for FY24-25. The policy rates of 20% and 5% for REU and OR respectively remain unchanged for FY24-25. To be consistent with the Town Council direction, staff have included the required reserve allocation in the preliminary budget. This reserve allocation of $444,038 is split between the REU ($294,038) and OR ($150,000) bringing them both into compliance with the policy. A $100,000 contingency amount is included in the proposed budget.

The reserve policy also includes a section for debt reserve. This element will provide funding to pay debt service obligations of the General Fund in the event of a funding shortfall. As no adjustments have been made to our debt service, that element remains within policy with $1,100,000 in reserves. When debt is issued for the Civic Center, staff will need to increase this reserve by approximately $600,000 to remain within compliance. As this debt issuance has not yet occurred, staff is not recommending these adjustments until mid-year budget review, likely 1st quarter review in October 2024. Total reserve across all elements totals $9,350,000.

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Fiscal Year 24-25 Final Budget Page 3
DEBT POLICY:

This Debt Management Policy has been developed to provide guidance in the issuance and management of debt by the Town or any other public agency for which the Town Council sits as its legislative body and is intended to comply with Government Code Section 8855(I), effective on January 1, 2017. The main objectives are to establish conditions for the use of debt; to ensure that debt capacity and affordability are adequately considered; to minimize the Town’s interest and issuance costs; to maintain the highest possible credit rating; to provide complete financial disclosure and reporting; and to maintain financial flexibility for the Town.

Debt, properly issued and managed, is a critical element in any financial management program. It assists in the Town’s effort to allocate limited resources to provide the highest quality of service and facilities to the public. The Town desires to manage its debt program to promote economic growth and enhance the vitality of the Town for its residents and businesses.

Staff does not recommend any adjustments to the Debt Policy for FY24-25. Council may amend the policy, as it deems appropriate from time to time in the prudent management of the debt of the Town.

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Fiscal Year 24-25 Final Budget Page 4
BACKGROUND:

The Budget: A Policy, Financial, Management and Planning Tool The budget is the Town’s fiscal year financial plan used to achieve policy goals and the established work program through the allocation of financial resources. The budget reflects directed investment in people, equipment, technology, capital projects and service improvements which are managed to achieve Town priorities and policy objectives. The level and scope of services are planned out for the current year, with a look at the future needs of the community. Although it is important to express the budget in monetary terms because of the need for a common denominator, a budget should be looked upon as more than just a set of numbers for the fiscal year.

The budget represents public policy incorporating legislative direction and oversite and administrative and legal controls. Budgeting is the process used for organizing human resources, equipment, materials, and other resources necessary to implement public policy directives, legal mandates, provide for public enjoyment and quality of life and to ensure public safety. The resources provided through the budget process are the means to achieve these objectives. The budget is also a management tool as it supports the work program designed to accomplish organizational objectives. The Strategic Priorities of the Town Council are reflected in the budget as are the ongoing provision of core services and enhanced services and programs for residents and guests.

The financial plan incorporated into the budget supports the current fiscal year requirements, but also looks to maintain future financial stability and investment. This includes setting and funding reserves, managing ongoing costs, and planning for and incrementally funding capital investments.

The process incorporates financial plans for major equipment replacement and to maintain and update operational systems. The Budget reflects planning for the operational costs of new facilities, maintenance of capital improvements, and incremental costs of ongoing services. The Town’s tourism reliant economy requires planning for investment in public amenities and experiences within our natural landscape in partnership with federal agencies and other partners.

Budgetary Basis
The effective period of a budget is one fiscal year: July 1 to June 30. Certain services and activities are required by law and several revenues are restricted for specific purposes. The budget is organized by “fund”, as the Town utilizes the principles of fund accounting to manage financial resources. A fund is a collection of accounts that record resources together with related requirements for a specific type of activity or objective. The Town maintains hundreds of revenue and expenditure accounts within 40 funds.

The budget may be the most important managerial tool available to local government, given that almost everything local government does is reflected in the budget. Virtually all governmental activities are funded through the budget, and budgeting and financial management is a continuous process. This makes the budget an effective tool for public officials, provides an effective resource allocation system, and is used at every level of governmental activity.

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Fiscal Year 24-25 Final Budget Page 5
The budget is prepared on a line-item (account) basis by fund and department using historical trends, outside agency and consultant information, and management experience. A review of each revenue and expenditure is completed in preparing the budget. The Town’s annual operating budget is prepared in conformity with Generally Accepted Accounting Principles (GAAP). The Town’s accounting system is organized and operated on a fund basis. As previously mentioned, funds are established for the purpose of carrying on specific activities or attaining certain objectives in accordance with policy direction, special regulations, or legal restrictions.

All governmental funds are accounted for using the modified accrual basis of accounting in which revenues are recognized when they become measurable and available to finance expenditures of the fiscal period. Expenditures, except for un-matured interest on long-term debt, are recognized in the accounting period in which the liability is incurred. For example, sales and use taxes are considered “measurable revenue” when they are received by the Town. Revenues earned in the prior fiscal year are considered measurable and available if received by the Town within 60 days after year-end. The accounting records for enterprise and internal service funds are maintained on a full accrual basis. Accordingly, revenues are recognized in the accounting period earned and expenses are recognized in the period incurred. Trust and agency funds are accounted for on a cash basis (these funds are not included in this presentation).

Town Manager Budget Guidelines and Direction
The Town has enjoyed continued strong growth of revenues following the pandemic impacts of a few years ago. Visitation remains strong and the demand for lodging has kept the average daily rates high for the lodging community. The needs of the community and growth of Town core services has also grown with the addition of departments and expanded growth of the services they provide.

Department Heads have worked to develop their budgets to reflect the core services and anticipated impacts of the coming fiscal year. We have several large projects in process for the next year and some of those impacts are reflected in the budget as estimates. Actual impact, expense and revenue, is yet to be determined. The budget reflects investments to achieve Town Council Strategic Priorities including funding for the Housing Now! initiative, investments in sustainable recreation partnerships and projects, infrastructure planning and construction, community facilities, and enhanced municipal services. The budget continues to reflect a conservative approach in current and long-term operational costs. The approach provides for stable levels of service, investment in capital infrastructure, and the ability to invest in creating a more resilient community.

Budget Assumptions and Direction
The following assumptions and direction were used in developing the FY24-25 Budget:

1. The Town’s Reserve for Economic Uncertainty (REU) and Operating Reserve (OR) were funded to the updated baseline target during the budget process.

2. Base General Fund operating budget includes $18.5 Million in base transient occupancy tax (TOT). This reflects a conservative approach to budgeting this revenue source to allow for ongoing investment in priority capital programs and current service levels.

3. The Town implemented the Certified Properties program, adding $900,000 in annual operating revenue.

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Fiscal Year 24-25 Final Budget Page 6

4. TOT allocation to Tourism, Transit, and Housing remained at 18.08%, 6.54%, and 6.54% respectively for FY24-25. Agencies supporting these priorities receive a flat amount, based on their contract with the Town with additional revenues used to meet defined operational programs, capital requirements and to investment in Town priorities such as the Housing Now! initiative. These additional investments are determined by Town Council action during quarterly budget review.

5. Programs previously funded through the direct allocation of funding to Mammoth Lakes Tourism are included as part of the Town’ budget, including Mammoth Lakes Chamber of Commerce ($300,000), Community/Trail Host program ($100,000), King’s Hockey Marketing ($100,000), and fish stocking ($50,000).

6. In the initial budget development, any Measure A allocation that is not committed, within Tourism and Housing, is allocated to Housing Now! initiatives. This includes $642,100 from the Housing allocation and $959,200 from the Tourism allocation. Total $1,601,300.

7. Continued allocation of $580,000 for Road rehabilitation and related capital projects supported by reserves.

8. Employee costs associated with new 3-year labor agreement along with merit increases or other obligated cost increases were updated for the second year of the contract. This includes modifications to salary schedules for general employee associations of 2% and nonrepresented employees supporting a 3% pay adjustment.

9. The Measure R budget includes one-time funding, $100,000 for SHARP trailhead construction, combined with $50,000 from the General Fund, which will provide gap funding and contingency.

10. The Measure U budget includes two one-time funding recommendations, $300,000 to MACC construction, available from the annual operating funds and $700,000 for MACC construction, designated as a planned use of fund balance.

11. Measure U budget includes $180,000 in debt service payment for a portion of the land acquired from the Mammoth Lakes Foundation for MACC construction.

The budget includes a robust capital program focused on achieving Town Council Strategic Priorities using a mix of revenues sources. Specific areas are noted and discussed in more detail throughout the budget information provided below. These assumptions and Council direction provide the base for preparing the recommended final budget.

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Fiscal Year 2
4-25 Final Budget Page 7

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Fiscal Year 2
4-25 Final Budget Page 8

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Fiscal Year 24-25 Final Budget Page 9
Personnel Adjustments
The FY24-25 budget reflects minor adjustments to improve the delivery of core services. The small increments are designed to fill gaps in service that have normally been absorbed within each department. As tasks are centralized, efficiency is generated across all departments. As these centralized tasks are no longer required of each department, the capacity of that department is increased without additional staffing. This fine tuning also promotes better communication and coordination between departments, further removing silos, inherent in most organizations. Over the past few years strategic steps have been taken in the growth of Town core services, providing additional resources in areas that will provide the greatest benefit to the community. Below is a narrative of each recommended position change or addition for FY24-25.

Public Works – Hybrid Workers
In FY23-24, the Town embarked on a series of reorganizations to optimize the service delivery for our Public Works and Parks and Recreation maintenance. While the service delivery model is enhanced, there is still a high dependency on part-time workers. Those work classifications are difficult to find in our region and the Town has always had much better opportunities with fulltime employees, albeit at a higher cost. In the FY24-25 budget we have added three full-time employees and eliminated six part-time positions that are assigned to winter roads and summer parks maintenance. These full-time positions will transfer between these departments seasonally to match the shifting workloads. We will retain one part-time position in each area to complete the coverage. The net impact of this solution is $212,920 with details listed in the chart below.

Facilities Maintenance Manager
This recommendation is an adjustment to existing staff assignments to develop a robust Facility and Asset Management focus for the Town. The elimination of the Engineering Technician position and establishment of a Facilities and Asset Manager is in response to a desire to better manage deferred maintenance and consolidate facility maintenance responsibilities. The opening of the Community Recreation Center and decision to advance the Town Hall and MACC was the catalyst for developing this position. Historically, the responsibility to manage janitorial, building maintenance, and other assets was shared amongst multiple staff members over several departments. The position will develop procedures and schedules for the maintenance of all Town facilities, oversee contracts for services, and develop GIS data sets for all Town owned assets. The position will not need to be back filled as it consolidates the responsibilities previously held by many employees.

Assistant Engineer – Reclassification from Engineering Assistant The promotion of the current Engineering Assistant to Assistant Engineer is necessary to recognize the increase in responsibility and workload. The engineering department has committed to completing more projects and is managing more work than ever before. This provides opportunities for junior staff to step into more complex roles. In this case the individual has demonstrated competence in managing larger projects and working directly with partner agencies and the public. Management is now assigning this higher-level work to the employee as necessary to meet the overall agency goals and commitments. The work is somewhat similar but is now completed with less oversight and with more decision-making responsibilities resting on the employee. This is a natural progression for engineers working in government and the

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responsibilities are consistent across the country. This position adjustment will add $6,000 to the budget.

Revenue Specialist and part-time enforcement - Certified Properties The work completed by the Short-Term Rental (STR) Advisory Committee included recommendations for funding sources to enhance administration of the Town’s STR businesses.

Staff developed a structure that enhances services for the business owners, streamlining payment and data collection as well as augmentation of audit and enforcement staff. In response, the FY24- 25 budget includes one Revenue Specialist to focus on audit functions and one additional parttime enforcement agent. Our experience with part-time enforcement is that we have gaps in correspondence on off days. Often these enforcements cases are highly stressful and require immediate response. With two people in this role, staff will structure the work hours to provide full coverage and share duties on enforcement correspondence. The combination of these two staff adjustments will add $148,640 to the budget.

Building Inspector / Plans Examiner
The Town currently has one full-time inspector and uses two contract inspectors during the summer months. This method allows the Town to flex staff levels and still have highly trained skill sets specific to building codes and methods. This has been particularly important as the community has recovered from the winter emergency last year and the damage it incurred. Our current staff is planning retirement in the next few years and our incremental position is intended to provide for succession planning and replacement. This position is slated to start in April of 2025 so has approximately 25% of the year for expenses. This position will add $41,875 to the budget for FY24-25.

Financial Analyst / Technology Coordinator
The Town currently employees a Financial Analyst who is imbedded in the Engineering Department to assist with financial tracking of capital projects. In the last two years, this employee has learned to program the Town’s Quick Base database management software. Through this training and experience, the Town is developing software programs in-house, tailored specifically for our needs. Recent accomplishments include a comprehensive fleet management and billing system, updated inventory management, and the certified property management system. We expect to utilize developed programs in the facility maintenance and asset management department as well as some Outdoor Recreation projects. This expansion of duties resulted in a reclassification of the position wage scale to align job responsibilities with compensation. This position adjustment will add $10,030 to the budget for FY24-25.

Sustainability Coordinator / Program Analyst – part-time This position will assist in implementation and management of the Town’s sustainability initiatives like the plastic water bottle ban, education and outreach on the Styrofoam ban, as well as work on grant opportunities to expand solid waste innovation. This is a new direction for our community and the position will allow focused efforts and training we will need with a fledgling program.

The position will add $29,765 to the budget.

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Fiscal Year 24-25 Final Budget Page 11
Airport Office Staff – part-time
Administration work at the Airport has increased significantly with position changes in the last few years. The core management team includes the Deputy Airport Manager, Airport Operations Manager, and support from the Finance Director. This core team is expanding the effectiveness of Airport operations as well as customer service & experience initiatives. The part-time position will assist in the implementation of new data management platforms as well as freeing up time for staff development of the Deputy Airport Manager. The original plan for staff development included training time with Airport and FAA specialists to obtain the skillsets necessary to be promoted to full Airport Manager. To date, these training efforts have been challenged by the workload and focus on engineering related project management. This part-time staff will help with the success of this overall management plan. The position will add $23,428 to the budget.

In total the changes reflected in new staff introduced in FY23-24 or recommended for FY24-25 have increased the labor expense by $416,778 which is 54.3% of the total labor increases reflected in this budget.

Labor / Staff Updates
Staff tracks the change in cost for specific labor elements on an annual basis. Health insurance rates are provided on an annual (calendar year) basis by our service provider. This year we realized a rate increase of approximately 2.8% for the year. This increase, from rate only, is approximately $87,385 and represents 11.4% of the total labor increases reflected in this budget. Merit increases are a part of the salary structure adopted by the Town to ensure we have competitive starting wages but reflect the expected increase in productivity as additional experience is gained over time. This

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is reflected as 5% steps for the General Employee Association (GEA) and Public Works Employee Association (PWEA). Ranges are also established in the Management Employee Association (MEA) but are a range and not reflected in specific steps. If the annual progression of each employee is deemed successful by their supervisor in an annual review, they will receive a 5% pay increase annually based on their hire date. When an employee reaches the top of their range, they no longer receive merit increases and the only pay increases are based on negotiated pay adjustments. The increased labor costs associated with merit increases is $221,056 and represents

28.8% of the total labor increases reflected in this budget. The employment contracts for the employee associations are in the second year of the term and contain a 2 – 3% annual pay adjustment. The cumulative adjustment across all employee associations and contract employees is $190,044 or 24.7% of the total labor increases reflected in this budget.

In addition to the benefit and pay adjustments for existing employees, our recreation programs have expanded with the expansion of programs and utilization of our new facilities. This additional cost is approximately $220,000 and is covered by increased fees revenue.

The budget also includes some salary savings from key position changes. These savings occur when the outgoing employee is paid a higher wage within the income scale or lower retirement costs. We are experiencing these salary savings in the Town Manager, Administrative Services / Finance Director, Community Development Director, and with the Public Works re-organization.

In total the impact of these salary savings is a $285,000 reduction in the budget.

The following table reflects the employee adjustments discussed above:

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Fund 100 - General Fund
Revenue
The budget revenue projections presented to Council during the tentative budget presentation in June were finalized and all analysis had been completed. Therefore, no adjustments were made to the General Fund Revenue for FY23-25, and the projected revenue is $32,852,365. Below is a summary of key revenue components for the General Fund.

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Expenditures
The budget expenditure projections presented to Council during the tentative budget presentation in June were finalized and the analysis was completed. Therefore, no adjustments were made to the General Fund Expenditures for FY24-25, and the projected expenditure is $32,781,587. The final budget is out of balance with revenue exceeding expenditures by $70,779 which will result in a planned increase in fund balance by the same amount. Below is Department Expense Summary for the General Fund.

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Fund 205 Solid Waste
The Solid Waste Fund accounts for restricted revenues related to providing solid waste related services and programs and was established in FY18-19. The majority of the solid waste programs and services are provided by Mammoth Disposal under a Solid Waste Franchise Agreement. The Fund supports recycling and trash services for Town facilities, Town clean up, and staff time associated with managing the Solid Waste Franchise agreement and services. The renewal of the Solid Waste Franchise Agreement in FY 19-20 adjusted the franchise fees by 4.5% from 5% to

9.5%. Two percent of the increase was retained in the General Fund and 2.5% percent is deposited in the Solid Waste Fund. The fees deposited here represent an AB939 fee collected under the new franchise agreement and are estimated at $150,000 for FY24-25. AB 939 fees are dedicated to meeting recycling mandates by funding facilities and programs to divert waste from landfills and increase recycling efforts. Previously an amount equal to 2% was being received and set aside to assist in the development of new solid waste facilities, this amount was formally incorporated into the franchise fee with the new agreement resulting in a net franchise fee increase of 2.5%. A Solid Waste Parcel fee is levied in Mono County and was shared with the Town by the County under a previous agreement. The parcel fee may be used to fund solid waste-related infrastructure and operations, as well as closing costs associated with Benton Crossing Landfill. The Town generates close to $500,000 for solid waste services from the fee for County solid waste operations. The Town will be working with the County to re-establish shared use of the Solid Waste Parcel fee to assist the Town in meeting State related mandates and other solid waste related operations, as well as ongoing post-closure costs of the Benton Crossing Landfill.

Fund 210 Gas Tax
The Gas Tax Fund is the second largest operating fund following the General Fund. The fund provides for road infrastructure maintenance and snow removal. Staff are recommending a change in the Gas Tax – Snow removal revenue estimate starting this fiscal year. This revenue item is highly variable depending on the cost of snow removal in the previous year. Since the General Fund must transfer funds to cover expenses in the Gas Tax fund, this variability causes a whipsaw effect in the General Fund. By budgeting an average revenue, similar to the way we estimate snow removal costs for the current year, with undetermined levels of snow, there is a predictable impact to the General Fund.

Gas Tax Fund has no adjustments made since the tentative budget presented in June. The Gas Tax fund is in balance with total revenue of $5,264,752 matching expenditures for FY24-25

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Measure R and U – Restricted Funding
Revenues generated from two voter initiatives commonly referred to as Measure R and Measure U are restricted in use by the language of the initiatives. The Town Council has designated Mammoth Lakes Recreation (MLR) to be the body to take public input on the proposed use of these funds and to make recommendations to the Town Council for consideration. The MLR Board met on May 14, 2024, and held a public hearing to receive public comment and review the proposed budget allocations of Measure R and U funds.

The final budget includes the recommendations provided by MLR. This included ongoing expenses to manage the funds and maintain equipment and facilities secured by Measure R and U expenditures, debt payments, and community support. An overview of the recommended budgets by MLR is discussed below.

Fund 215 / 216 – Measure R
Measure R (Fund 216) is budgeted to receive $2,000,000 in Sales Transactions and Use Tax (TUT) revenues for FY24-25. The fund has operating expenditures of $715,000 for FY24-25 and includes updates to support recreation in our community. The Community Recreation Center (CRC) began operations in FY23-24, and the operational plan includes $112,000 in annual support from Measure R. This support helps reduce the fees to the public and therefore the affordability of the new center. The budget includes $25,000 in support for the Recreation Officer position. This position is assigned as the primary Town staff support working with Mammoth Lakes Recreation.

The budget includes $94,500 for the contract with Mammoth Lakes Recreation, with additional funds from Measure U to support the full contract of $104,500 for FY24-25. The transfer to Fund 215 Trails remains the same in FY24-25 at $300,000 for trails construction/repair efforts.

There is one project the Town is recommending for the use of Measure R funds. This project is tied specifically to recreation amenities and therefore qualifies for the use of these restricted funds.

Measure R has been utilized for a number of phases of the SHARP trailhead project, however there are currently no carryover items associated with the project.

SHARP Trailhead Construction – $100,000
This project has been in process for several years now. A grant for construction has been received and there is a gap in funding for the full construction and a need for contingency. The total cost is estimated at $1,015,000 with a grant award of $950,000. Staff are recommending $150,000 in additional funds be secured to complete the construction phase of the project. The Town General Fund will contribute $50,000 and the request from Measure R is $100,000. As the bulk of this is contingency, the Town will commit to spending the grant and General Fund contribution first and only use Measure R funds as needed up to the cap of $100,000.

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In October 2017, the Town acquired $5.5 million in debt secured by Measure R for construction of a multi-use facility. The annual payment for this 10-year bond is based on a payment schedule and includes $610,994 for FY24-25. This payment is made from Measure R proceeds bringing total expenditures for Measure R Fund 216 to $1,425,994. The current revenue and expenditure budget should increase the available fund balance by $574,006 for FY24-25.

Measure R Trails (Fund 215) receives a transfer of $300,000 from Fund 216 to support construction and maintenance of our trails system. This annual support has changed very little over

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the last several years and is considered a baseline level of support for this system. These funds are used for trail construction along with some allocated full-time and part-time trails construction staff, operating expenses, contractual services and projects.

With the creation of the General Fund department 467 – Office of Outdoor Recreation in FY22- 23, many of the trails administrative expenses have been moved to the General Fund. The only remaining labor expense in this fund is used specifically for trail construction. This includes an allocation of a full-time public works maintenance worker who is allocated for the summer and a crew of part-time employees.

Fund 217 – Measure U
Staff has made a number of adjustments to the FY24-25 budget based on normal analysis and updates. The revenue has increased by $43,000 based on recent trends. The revenue for Measure U is variable based on visitation and the severity of winter. Total revenue projected for FY24-25 is $923,000 and does not include any estimate for interest. Interest is determined by available interest rates from standard investment tools as well as the balance on hand. Both of these components are highly variable and therefore not included as a revenue estimate. Any interest received will contribute to covering expenditure and ultimately will end up contributing to fund balance increases. The breakdown in revenue is as follows:

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The bulk of the expenditures remained unchanged for FY24-25 with the exception of a reduction of some small expenditures in order to reduce the overall impact of request and annual commitment of debt service mentioned above. Staff have reduced the charge for the Office of Outdoor Recreation Coordinator by $50,000, transferring this cost to Measure R, more closely aligning with the work plan and available funding. Staff also removed some smaller expenditures for event contract processing and equipment replacement. The removal of these items provided savings of approximately $72,320 to bring total expense to $339,500 Project Support
The Town, Mammoth Lakes Foundation, Cerro Coso College and other partners are continuing to move forward with the development of a new Performing Arts Auditorium. To finalize the construction funding to prepare for bid, there are two requests from Measure U in FY24-25. The first request is a planned use of fund balance to allocate $700,000 to MACC construction from the available fund balance in Measure U. At the close of FY23-24, Measure U should have an available fund balance of $1,159,277 and the allocation of $700,000 should leave just over $450,000 for future projects.

As the concept of the MACC has evolved, the Town Council has instructed staff to include an estimate of Measure U contribution to operating costs on an annual basis. The estimate is $300,000 and for FY24-25, staff is recommending the $300,000 be committed to the construction project which would continue to meet the intention of the Town Council in securing the funds but provide the final push for one-time cash needed for construction. Staff has provided a table to show the Measure U contributions to the MACC construction, including these two requests, bringing the total contribution to $4,470,000.

Debt Service
The purchase of the Mammoth Lakes Foundation property is a critical aspect of building the MACC. The Town is financing this purchase as part of the larger Civic Center project, issuing Certificate of Participation - Lease Structured debt. The total land cost is $4.5 million, which will be part of the debt issuance, scheduled for July 2024. In this agreement, the Foundation would retain $1.5 million of the sale proceeds and contribute $3.0 million to the MACC project. The proposed term of the debt is 25 years. The request for Measure U funds will be to contribute $180,000 annually to the debt service for the first 13 years. These funds will be principal payments

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only with interest costs paid out of other Town resources. The 13 years will serve two functions.

First to provide payment for the portion of land that will be occupied by the MACC, and second to structure the debt service payments up to the point the Town’s other debt requirements are completed and can accommodate full payment of the debt. The request is to approve the allocation of $180,000 annually for debt service for the next 13 years, which is reflected in the FY24-25 budget.

The total budget includes the items mentioned earlier in this presentation, both one-time funding items and the debt service. Based on the revenue over expenditures for FY24-25 generating a positive fund balance of $103,500, combined with the planned use of fund balance ($700,000) provides a net reduction of fund balance of $596,500. As noted above, at the close of FY23-24, Measure U should have an available fund balance of $1,159,277, leaving an anticipated fund balance of $562,777 to close FY24-25.
.

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Fund 218 – Tourism Business Improvement District (TBID) The TBID fund projections include revenues of $6,668,250 for FY24-25. These numbers were calculated in conjunction with Mammoth Lakes Tourism analysis on years prior to the pandemic.

The TBID account is a pass-through account, and the majority of these funds are transferred to Mammoth Lakes Tourism for marketing, advertising, promotion and MLT administration costs.

The Town is budgeted to receive 2% of the revenue for collection and administration costs ($133,365). In FY23-24 the TBID renewal increased rates for the Ski Area and Golf Courses to

2.5% which will produce additional funding that can be used to support programs outlined in the TBID Management District Plan.

Airport Operational Fund (220)
The Airport crew continue to evolve the function and utilization of the Airport, aligned perfectly with the scheduled charter service and high value general aviation customers. The crew constantly strive for operational improvements that will have a positive influence on all Airport customers while seeking efficiencies to keep the size of the operation nimble. The staff level is consistent to prior years for the operations team with one additional part-time employee added to support administrative functions in the Deputy Airport Manager’s office. For FY24-25, the Town continues to rely on FAA CARES grant funding to support operations, with a shift to greater contribution from the General Fund in order to reduce reliance on these operational grants in the near future. By contributing more from the General Fund, staff will extend the grant period while slowly reintroducing the support needs to the General Fund budget. This operational grant should be exhausted in FY24-25.

There are a number of grant projects funded for FY24-25. They include the finalization of the initial grant to design the AARF / SRE building. This project in the current design was not approved by FAA late in the process, resulting in a required redesign of the building. Staff is in the final phase of project design, expected to be completed this year. The terminal and general aviation parking lot reconstruction is set to begin this year ($1,945,000) which will completely rebuild the vehicle parking lot. On the air side, there is third project slated for FY24-25 to begin preliminary work on the taxi lane reconstruction on the row of hangers owned by the Town. In total there are just under $2.5M in construction projects on the Airport this year.

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Fund 240 – Long Valley
This is a small fund and receives minimal revenue from private use of the “pit” for disposal of clean fill material. The pit is located near the Airport and receives clean fill material used to rehabilitate the site, as it was previously a site from which material was removed. The Town has also been working with the Forest Service on the removal and use of old asphalt grindings that were placed in the pit. The removal of this material assists with remediation of the site. Revenues are budgeted at $26,000 with expenditures of $3,000.

Fund 245 – Housing Now! Initiative
The Housing Program fund has been used for several years to track grant funding for first time home buyers and Mammoth Lakes Housing buyback program for deed restricted properties. In FY20-21, staff adjusted the fund to include other housing programs and has recommended that all housing related allocations be transferred to this fund for better tracking. This effort created the Housing Now! Initiative, which encompasses several housing programs. Staff and the Town Council have focused on transferring all available resources to this fund in support of our Housing Now! initiative. The various housing programs administered by the Town are designed to address various needs of the community with innovative ways to address this multi-faceted need. Funds are allocated to these programs during the quarterly budget updates, annual budget process, and upon the receipt of various grants. The idea is to accumulate funds in each “program” so the Town can act quickly to respond when appropriate units or opportunities become available or potential projects are identified.

The various Town programs established under the Housing Now! Initiative are discussed in detail below with some reconciliation of current year activity. In some cases, FY24-25 transactions are anticipated and included in the reconciliation.

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TOML – Eastern Sierra Community Housing - Partnership Projects The Town has four partnership programs with Eastern Sierra Community Housing (ESCH) that are included in our Housing Now! initiative. ESCH serves as a subrecipient of the Town awarded State grants of CDBG or HOME Funds used for down payment assistance. In addition to these grant funds, ESCH assists the Town in providing affordable housing solutions by partnering on projects or programs listed below.

Revolving Loan Fund (RLF)
ESCH assists the Town in preserving the existing deed restricted units as well as furthering the program through new acquisitions like the Bridge Program stated above. The Town Deed Restriction Preservation program currently funded at $1,000,000 is used by ESCH or the Town to buy back deed restricted units should a qualified buyer not be found within the allowed time frames. The program is funded primarily from in-lieu housing fees collected from new development projects. Mono County also sets aside $300,000 for this program. The increase in funding is reflective of efforts to increase the number of deed restricted ownership units.

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ESCH Access Apartments
Eastern Sierra Community Housing has an ongoing project to convert an existing commercial project into a 13-unit (1-br and studio units) affordable housing project called Access Apartments.

This project is located at 238 Sierra Manor Road. The project requires significant remodel and ESCH has been working on several funding sources to achieve the work. To date, the Town has committed $2.2 million in Town funds to support the project as well as sponsoring the CDBG Grant program for another $3.0M. ESCH has secured a HOME Grant for $4.1M for the project.

ESCH continues to work to revise the project to control costs. At this point, the project is shovelready and ESCH anticipates beginning work on the project in summer 2024.

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Homekey – Innsbruck Lodge
ESCH has another affordable housing project in the Town, converting the former Innsbruck Lodge located at 913 Forest Trail, to produce 15 units of affordable housing and 1 managers unit. The property was acquired in summer 2022 and the renovation work began in winter 2023. A temporary certificate of occupancy was issued in spring 2024 allowing for six of the units to be occupied (5 units + 1 manager’s unit) and the remaining 10 units are anticipated to be ready for occupancy in late-2024 pending completion of the electrical system upgrade. The various funding sources for the project include: Homekey state grant for $4.56M, with the Town as a co-applicant on the grant.

The Town has committed $1.4 million of its own funding along with $550,000 from Mono County for the project. Thus far, the Town has contributed $1.0M to the project and the remaining balance of $400,000 is expected to the drawn down in the near future. The reconciliation below shows the transaction and available balance involving the Town’s funds only.

Town Program – Bridge Program
The Town’s Bridge program is designed to acquire units for sale at market value and resale them to individuals at a subsidized rate, making them more affordable for home buyers. In exchange for these subsidized sales, the Town has a deed restriction on the property to ensure it remains in the affordable housing stock for the Town. The Town also retains the first right to repurchase the properties in the event the seller wants to sell the property and a qualified buyer is not secured. The Town has committed $2.2M to this program. To date, ten (10) housing units have been purchased for the purpose of making the units available to households earning 120% to 150% of the area median income (AMI).

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Of those, five (5) have been transferred to income eligible households, one (1) is in escrow, and the remaining four (4) are being marketed for-sale to eligible households through ESCH’s waitlist. The average Town subsidy for the transaction is approximately $130K based on the five completed sales.

High interest rates, HOA fee spikes, and uncertainty related to the availability of insurance have negatively impacted the ability for households to purchase the units. Proceeds from the sale of these units are placed back in the program. Over time these funds will be diminished due to the affordable selling price. The goal of the program is to provide 12-15 households with affordable home ownership.

The Town also provides down payment assistance to address these challenges when necessary. Down payment assistance is provided from miscellaneous funding within Housing Now! initiative.

Bridge Program Available Balance for FY24-25 $1,342,163.

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Town Program - Parcel Phase II (The Kingfisher)
Staff and the development team at Pacific West Communities (PWC) have completed the design work on the second phase of the Parcel. Building permits for the initial 76 units were issued at the end of May 2024 and grading is expected to begin in June 2024. The project will be developed in two phases that will result in 146 affordable units consisting of a mix of studio, 1 bedroom, 2 bedroom, and 3-bedroom rental units, plus 2 manager units (148 total units). PWC was successful in being awarded tax credit financing for the majority of the costs for the initial phase and are working on securing funding for the second phase. To increase the competitiveness of the tax credit application, the Town committed $9,032,000, consisting of $7,816,737 in cash (Kingfisher I) and $1,215,263 in DIF and Land Loans (Kingfisher I and II).

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Town Program - Creative Housing Initiative (Public / Private Partnership) This program is designed to set aside funding to partner with a private entity to develop affordable housing projects, acquire units for Town and partner agency employee use, and to act quickly on land acquisition when opportunities arise. During FY 23/24, the Town was successful in acquiring two adjacent vacant parcels that together provide 0.56-acres of developable area. The Town has not set aside any funding for future potential development on the two sites but will continue to analyze the future development of affordable housing on the sites. To date, the Town has not been able to secure a private partner to move any public/private partnership projects forward, but staff continues to pursue options. The Town has used a portion of the funds over the past few years to acquire four units to assist the Town and other agency partners in transitioning employees to the region. In total, the Town owns three (3) two-bedroom unit and three (3) studio units for interim employee use.

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Town Program – Housing Now! – Unallocated Funds
When the Town allocates funding to Housing Now! initiative that is not designated for a specific program, the Town accumulates the funds in this section. The bulk of the expense in this section is the transfer of funds to defined programs or specific projects.

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Town Program – Lease to Locals by Placemates
The Lease to Locals program is a hosted solution that connects property owners to local tenants.

The Town controls the parameters of the program and determines the funding available.

Prospective tenants are required to have average household income at or below 150% AMI, Qualified Tenants must work full-time (30+ hours a week) for a local employer (not a remote worker or commuter) or locally employed, as defined by the Mammoth Lakes School District boundaries, or if Self-employed, must have a business tax certificate in the Town of Mammoth Lakes. The Town Council has set aside $450,000 for the program but has not yet approved the program with defined restrictions. This will come before the Town Council on June 19th for consideration.

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Fund 250 – Local Transportation Commission – LTC
This fund is used to account for revenues and a work program as approved by the Local Transportation Commission. The Town anticipates receiving $75,000 in revenues and has appropriated the full amount to implement the approved LTC work program for FY24-25. The appropriation includes $40,000 for Node planning work that will be completed in Fund 100 – Office of Outdoor Recreation. This project will review the Town Nodes, access points to the Forest, to determine the condition of the existing amenities (parking, restrooms, trash receptacles, signage, etc.) and what is in need of repair or to be added at each location. The study will also look at access (road, trails, etc.) and effective interconnectivity of the network and linkages to Town amenities. This work does not include the Lakes Basin as the Forest Service is conducting a similar review of the area.

Capital Projects Fund (300)
The Town of Mammoth Lakes Public Works Department currently has several capital improvement projects underway. Funds to support those projects come from a variety of state and local sources. It has been described that the Town does not have a typical approach to funding our CIP and MMP work. As an example, we have no annual General Fund source for CIP projects.

The work is pursued based on fund availability as it changes every year. A stated goal of the Department is to do enough work so that should funding become available, we are prepared to proceed expeditiously. The Town does typically budget approximately $580,000 each year to improve our roads and infrastructure. This is sometimes carried over to a future year to enable the design and construction of a larger project. Below is a summary of the planned FY24-25 projects.

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Description
Previous
Funding
FY24/25
Funding
Total
Project Cost Status Funding Source
Affordable Housing
Housing Now! $900,000 $900,000 Construction Grants and TOML Funds 60 Joaquin Affordable Housing Project $2,700,000 $2,700,000 Construction Various TOML Funds Airport
Reconstruct General Aviation and Terminal Area
Parking Lot $1,945,000 $1,945,000 Construction FAA AIG Grant and TOML Funds Multipurpose Building to include ARFF & Snow
Removal Equipment Redesign $333,000 $333,000 Design FAA AIP Grant and TOML Funds Relocate and Upgrade Automated Weather
Observation System (AWOS) $541,000 $541,000 Construction FAA AIP Grant and TOML Funds Town Hangar Taxilane Reconstruction $150,000 $150,000 Design FAA AIG Grant and TOML Funds Four Portable Units (Relocation and Project Design) $250,000 $250,000 Design General Fund General Facilities
ADA Specific Improvements $25,000 $25,000 Construction General Fund Mammoth Arts and Cultural Center (MACC) $10,500,000 $4,500,000 $15,000,000 Construction Measure U / Bonds / MLF / Grants Foundation Child Care Facility $1,800,000 $1,800,000 Construction General Fund Civic Center - Town Hall Planning $1,900,000 $1,900,000 Design American Rescue Plan Act (ARPA) and
other grants
Civic Center - Town Hall Construction $27,000,000 $27,000,000 Construction Grants and Other Funding TBD 2024 Fencing Projects $90,000 $90,000 Construction General Fund 2024 Facilities Painting Project $600,000 $600,000 Construction General Fund Parks and Recreation
Community Recreation Center Interior Improvements $1,050,000 $1,050,000 Construction General Fund and Measure R Dog Park $200,000 $200,000 Construction General Fund and Grants Multi-use Parking and Amenities $400,000 $400,000 Construction General Fund Mammoth Creek Park West Improvements $500,000 $500,000 Construction General Fund Whitmore Park Track and Turf Maintenance Project $100,000 $100,000 Construction General Fund Streetscape and Signage
Main Street Landscaping $250,000 $465,000 $715,000 Construction General Fund

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Trail and Municipal Signage Updates $25,000 $25,000 Construction General Fund Streets
2024 Street and MUP Rehabilitation Project $25,000 $25,000 Construction Road Rehab Fund 210 / General Fund 2024 Street Slurry Seal Project $25,000 $25,000 Construction General Fund Minaret / Meridian Round-a-Bout $180,000 $180,000 Construction STIP Trails
Main Street South Side MUP Gap Closure (Town
Loop) $250,000 $250,000 Design STIP
Sherwin Trail Head Improvements $1,115,000 $1,115,000 Construction Grants Transit and Mobility
Parking at Parcel (50+ Spaces) $150,000 $150,000 Construction Road Rehab Fund 210

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TOML – ESCH Partnership Projects (AF2)
The Town has four partnership programs with Eastern Siearra Community Housing (ESCH). ESCH serves as a subrecipient of Town awarded CDBG or HOME Funds used for down payment assistance. The Town has a Revolving Loan Fund that supports Deed Restriction Preservation that is currently funded at $1,000,000 to be used by ESCH or the Town to buy back deed restricted units should a qualified buyer not be found within the allowed time frames. The program is funded primarily from in-lieu fees collected from new development projects. Funding for the program was increased to a balance of $1M (up from $600,000) in FY 22-23 using current in-lieu fees. Mono County also sets aside $300,000 for this program. The increase in funding is reflective of efforts to increase the number of deed restricted ownership units. The Town has committed $2.2 million to support the 13-unit affordable housing Access Apartment Project located at 238 Sierra Manor Road. Under the State’s Homekey program, the Town has committed $1.4 million to the conversion of the Innsbruck Lodge to create 15 units of affordable housing. The Town is also the co-applicant on grants to support these projects. Mono County also committed funds to the Homekey project.

Revolving Loan Fund - Deed Restriction Preservation (funds are held in trust; topped off w/ In-Lieu Fees as needed) $1,000,000 Access Apartments FY21-22 & 23-24 Budget Allocations $2,200,000 Homekey Project FY21-22 and FY 22-23 Budget Allocations $1,400,000 Total Project allocation $4,600,000

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60 Joaquin Rd – Four New Housing Units (AF3)
Town acquired the vacant 0.20-acre site at 60 Joaquin Road in the Sierra Valley Sites in summer 2021. The Town Council authorized a contract with the selected Design-Build entity, MMI Consulting LLC, in April 2022 and the Town started the project in Summer 2023. The project will provide four (4) for-sale units in two (2) duplex buildings that will be available to households earning up to 120% of the area median income (AMI). Per the schedule provided by the Design-Build entity, construction is scheduled to be completed in 2024.

Total Budget FY24-25: $2,700,000
CONTRACTOR PROPOSAL FOR 60 JOAQUIN PROJECT

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Parcel Infrastructure Grant (AF4)
The Town and the Parcel Development Partner (Pacific West Communities) were awarded a $20.6 million Infill Infrastructure Grant (IIG) from the California Department of Housing and Community Development. The use of these funds will extend over several years as the Parcel is built out. The funding will be used for public and private infrastructure to support this affordable housing project. Build out is planned to include a minimum of 450 housing units. For Phase 1 of the Parcel these funds covered the parking podiums of both buildings, underground infrastructure, the extension of Tavern Road, integration of infrastructure on Laurel Mountain Road, and Inyo Street. The capital budget carries the grant funding over time and actual use of the funds will depend on construction schedules.

Total Budget FY24-25: TBD with Phase 2 of the Parcel project

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AIRPORT
Reconstruct General Aviation and Terminal Area Parking Lot – Construction The existing General Aviation and Terminal Area Parking Lot at Mammoth Yosemite Airport has deteriorated over time and has an extremely low Pavement Condition Index; therefore, the parking lot needs to be reconstructed. The project scope includes full depth reconstruction, minor adjustments to grading, new markings, new solar floodlighting, and various ADA improvements. Bids were opened in March of 2024, and a successful bid was received within the budget. An Airport Infrastructure Grant (AIG) application was submitted to the Federal Aviation Administration (FAA) in April 2024 and is currently pending approval. Construction is planned for late summer of 2024.

Total Budget FY24-25 Construction: $1,945,000

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Multipurpose Building to Include ARFF and Snow Removal Equipment – Redesign The Airport currently houses its Aircraft Rescue Firefighting (ARFF) vehicle and snow removal equipment (SRE) in a leased hangar and outside, for the equipment that does not fit within the hangar. Airport employees have offices within an old trailer located at the Airport.

The proposed building will be a multipurpose building that will include seven bays for storage of the ARFF and SRE and include spaces such as a lobby, training room, breakroom, restrooms, offices, and additional storage. The project will also include an access road, parking lot, vehicular gate, ARFF access road, and relocation of Taxiway Connector A3. The project was originally designed in 2023, however bids were not received on the structure portion of the project and the FAA revised its eligibility for this facility based on operational changes at Mammoth Yosemite Airport. Therefore, the project is being redesigned. Staff are working with the engineering/architectural consultant to reduce the size of and simplify the project to both attract bidders and ensure that the new FAA eligibility is met. In April 2024, an Airport Improvement Program (AIP) Grant application was submitted to the FAA. The redesign is underway and will be ready to rebid the project in early 2025.

Total Budget FY24-25 Construction: $1,945,000

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Relocate and Upgrade Automated Weather Observation System (AWOS) – Construction In order to construct the Multipurpose Building to include ARFF and SRE project, the existing AWOS required relocation since an AWOS requires an object free area around it and the existing AWOS was too close to the proposed building location. The Town took the relocation as an opportunity to also upgrade the out-of-date equipment. The project was bid and awarded in 2022 and construction began in 2023 after a winter suspension. An FAA Airport Improvement Program (AIP) Grant was received for the construction in 2022. As of 2024, the majority of the construction is complete, however long lead times on specialty equipment have delayed the completion of the project. Construction will continue and be completed in 2024.

Total Budget FY24-25 Construction: $541,000

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Town Hangar Taxilane Reconstruction – Design
There are three taxilanes located between the Town Hangars at Mammoth Yosemite Airport. The taxilane asphalt has deteriorated greatly and has an extremely low Pavement Condition Index. The proposed design will include full-depth reconstruction of the taxilanes and minor grading improvements to fix existing drainage issues. In 2023 the Town issued a Request for Qualifications (RFQ) for engineering of multiple projects at the Airport including this project. The design will be completed in FY 24/25 in preparation for 2025 construction. The design will be funded with Town funding, until an Airport Improvement Grant (AIG) is submitted in 2025 to reimburse the design costs.

Total Budget FY24-25 Design: $150,000

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Four Portable Units – Relocation and Design
Mammoth Yosemite Airport has been approached by various companies or agencies over the years with interest in leasing indoor space at the Airport. The Airport currently does not have any empty buildings that are available to lease. Additional indoor space is also needed at the Airport for training and meetings. Mammoth Unified School District (MUSD) informed the Town that four of their portable classrooms that are to be disposed of as part of the High School Remodel are available for the Airport to repurpose. Airport staff are working with MUSD on an agreement for the repurposing of the four portables. The project will create additional Airport revenue and could lead to additional services and activity at the Airport. In 2024 the portable units will be relocated to the Airport and stored at a temporary location until they are ready to be installed in 2025. Over FY 24/25, consultants will design the final location for the portables to be placed and refinished and the project will go out to bid in spring of 2025. Town funding will be used for the project.

Total Budget FY24-25 Design and Relocation: $250,000
ADA Improvements (GF3)
The Town has an approved Americans with Disabilities Act (ADA) transition plan. The plan outlines various ADA improvements for Town facilities. The details include what the ADA barrier is, recommendations for removing the barrier, and timelines based on prioritization factors, funding availability, and project coordination opportunities. Each year the Town continues to make a reasonable effort to implement ADA improvements. The funding is noted in the Capital program to track progress made on plan implementation. The minimum annual allocation is $25,000.

Total Budget FY24-25: $25,000
Mammoth Arts and Cultural Center (MACC) (GF9)
The establishment of the Mammoth Arts and Cultural Center (MACC) in the Town of Mammoth Lakes has been under consideration for several years. The concept plan includes a performing arts auditorium, use of Edison Hall (theatre), storage/workshop space, and other ancillary uses.

The concept plans have gone through several iterations. Aligning the scope of the project with realistic funding availability has been challenging.

The location for the MACC is on property (Approx. 8 acres) owned by the Mammoth Lakes Foundation (MLF). Over the past year Town staff have been engaged with the Mammoth Lakes Foundation to evaluate options to achieve a viable project and take advantage of new opportunities.

This process has been under discussion in different forms for several years. A concept design for a new performing arts auditorium integrated with the existing Edison Hall was prepared. The concept achieved a more realistic project that is being refined to ensure the facility will meet the existing and expansion needs of most current users and serve new opportunities. The execution of this refined vision was separated into two phases. The first phase includes an interior remodel of the existing footprint of Edison Theatre. The second phase includes the construction of the new 250-seat performing arts auditorium. The first phase has been designed to support the expanded second phase but may function as a standalone facility if the larger new construction were not to proceed. The first phase of the project will be managed by the Foundation as a private project independent of public funding. The second phase of the project would be a public works project managed by the Town on behalf of the Mammoth Lakes Foundation.

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The Town and MLF have generally come to terms on the sale of the facility and surrounding lands. MLF would dedicate a portion of these proceeds to complete the MACC project. The current plan would ultimately result in Town ownership and operation of the facility. Funding sources for the new Performing Arts Auditorium project include Measure U Capital funding reserves of $4.5 M, $3M MLF contribution, Kern Community College District (local bond measure) funding of $7,500,000, and private donations.

Total Budget FY24-25: $15,500,000

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Foundation Childcare Facility (GF12)
Several factors have come together creating an opportunity to provide expanded childcare services. The need for expanded childcare and early child education services has been expressed by individuals, businesses, and local service agencies. The 2022 Mono County Childcare Council Needs Assessment identified a need for more than 700 spaces in the County, with more than half of the need in Mammoth Lakes. Town and MUSD staff have reached an agreement allowing the Town to repurpose six of the portable classrooms that are to be disposed of by MUSD as part of the High School Remodel. The plan is to provide space for infants and toddlers in a space designed with 75+/- spaces. The funding set aside will be used to cover design, permits, building relocation, foundation construction, inside improvements and limited outside improvements. A contract to complete the project was awarded in April 2024 and work is expected to be completed this year.

Total Budget FY24-25: $1,950,000

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Town Hall (GF14a and GF14b)
In February of 2024 the Town Council authorized bonding for the new Town Hall. Staff has been working with HMC Architects since 2022 on designs for the new facility. The project includes a new Town Hall with community spaces and offices for administrative staff. The schematic design included an emergency operations center (EOC). The EOC housed a bunk room, warming/cooling center and community kitchen and pantry. The EOC was designed to be built in a future phase once funding becomes available. The Town hall project design was approved by the planning department in April 2024 and construction is set to begin summer of 2024. Funding for the design came from the American Rescue Plan Act (ARPA). Construction of the project is funded by municipal bonds.

Total Budget FY24-25 Design: $1,900,000
Total Budget FY24-25 Construction: $27,000,000

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2024 Fencing Project (GF18)
In summer of 2023, Town of Mammoth Lakes Staff documented numerous parks and facilities with damage to perimeter safety fencing.

Staff worked with potential contractors to get this work completed during 2023, but due to Public Contract Code regulations and priority of other work done under the 2023 Emergency Facility Repairs Contract, the repairs to various chain link fences were not completed. During the winter of 2023-2024, Staff documented instances of damage to chain link fences and created the project plans, technical specifications, and special provisions. This project will repair and remove and replace, as needed, sections of damaged fencing at the Community Center Tennis Courts, Shady Rest Park, Pickleball Courts, and Whitmore Track. All fence dimensions, orientations, and materials will remain unchanged. The project was bid and awarded by Town Council in May of 2024. Work will be completed this year.

Total Budget FY24-25 Design: $90,000

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2024 Facilities Painting Project (GF19)
The Town of Mammoth Lakes has developed plans and a color scheme to repair and paint the exteriors of fifteen (15) facilities within the Town of Mammoth Lakes and six (6) facilities in the Whitmore Recreation area. Staff worked internally with all departments to develop a standard color scheme that can be utilized at most of its public facilities. High profile facilities such as Town Hall and the Police Station will retain their approved color palette. This project will significantly improve the look and feel of TOML facilities and simplify long term maintenance.

Total Budget FY24-25: $600,000
Community Recreation Center Interior Improvements
Just a little over $1M was allocated to make improvements to the interior of the CRC. Many of these elements were originally included in the plans but were value engineered out of the project. The funding will cover office spaces for recreation staff, flooring, and bleachers over the locker rooms. The funding will also cover a couple of exterior elements such as the roof over the mechanical structure and the sign structure on the front deck. Work will be bid spring 2024 and work is anticipated to be complete before the 2024 winter season.

Total Budget FY24-25: $1,050,000

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Dog Park and Multi-use Parking (PR7 & PR7a)
The Town, partnering with the Mammoth Lakes Foundation, identified a suitable location at the intersection of College Parkway and Wagon Wheel Road. This will be the first Town developed location designed for off-leash dog play. Our local parks and sports fields have been used for this purpose resulting in several gallons of dog waste being removed from these facilities each year. Having a dedicated space for this purpose meets community need for a place allowing dogs to run/play off leash, socialize and increases the norm for users of the dog park to pick up after their pets. The Town received a $50,000 T-Mobile grant and previously allocated an additional $150,000 for a dog park. The land adjacent to the dog park was identified to host expanded parking of 40+/- spaces, restrooms and other amenities. This infrastructure will support other uses such as the Theatre, MUPs, future amphitheater space and long-term housing. The parking area may include EV charging stations. Construction began in 2023. The project will be complete in the summer/fall of 2024.

Total Budget FY24-25: $950,000

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Mammoth Creek Park West Improvements
To complement all the improvements made with the CRC the Town Council allocated funding to improve the park space east of the playground. Improvements will include a new pavilion for smaller events, replacement of grass areas with irrigation, additional landscaping for screening, and bouldering park with fall protection. The park area will be constructed over the summer of 2024.

Total Budget FY24-25: $500,000
Whitmore Park Track and Turf Maintenance Project
Constructed in 2012 the Whitmore Track and sports field has been incredibly popular and heavily used since it opened to the public. After a dozen years of use and significant weather events the complex is starting to show some wear. This project will provide a cleaning and restriping of the track surface along with patching of the handful of cracks and delamination in the rubber surface. The synthetic turf will also be spot repaired. Both surfaces will need full replacement in the upcoming years.

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Total Budget FY24-25: $100,000
Main Street Landscaping (SS2)
This project includes rehabilitation of existing irrigation and installation of new drip irrigation where necessary, and installation of seed mix and drought-resistant plantings along both sides of Main Street from Mountain Blvd to just past Old Mammoth Road. Estimated project cost for construction is $715,000. The project was bid in 2022 and no bids were received. Staff worked with local contractors to secure a bid for the project. In April of 2024 a contract was authorized to be awarded. Work is expected to be completed during the summer of 2024.

Total Budget FY24-25: $715,000
North Side
South Side
Trail and Municipal Signage (SS3)
The updating, repair and installation of new signage is an ongoing program of work. The Capital Budget allocates $25,000 for the program.

This level of work is not generally a defined capital project, but the program provides ongoing dedicated maintenance funding as a priority.

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The program is coordinated between the Office of Outdoor Recreation and Public Works. While noted in the CIP the funding is allocated in the Office of Outdoor Recreation.

Total Budget FY24-25: $25,000

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2024 Street and MUP Rehabilitation Project (ST2)
Project includes a variety of asphalt rehabilitation on roads and multi-use paths throughout Mammoth Lakes, including but not limited to pulverizing existing AC pavement, recompacting base, placing new hot mix asphalt, and milling asphalt. The scope includes treatments for Kelly Road, Silver Tip Road, Monterey Pine Road, Majestic Pines Road, Mono Street, Dorrance Drive, Main Street MUP, Old Mammoth Road MUP, Mammoth Creek Park West MUP, MCWD utility covers and numerous alternatives. Work will be awarded spring 2024. Work is expected to be completed over the summer/fall of 2024.

Total Budget FY24-25: $3,000,000

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2024 Street Slurry Seal Project (ST16)
Project includes slurry seals on multiple roads throughout Mammoth Lakes, striping, and associated traffic control. The scope of the project includes the following roads: Minaret Road, Chateau Road, Old Mammoth Road, Meridian Blvd, Azimuth Drive, Canyon Boulevard, and Forest Trail. Portions of Old Mammoth and Lakeview were bid as alternatives. The project will be awarded in spring 2024. Work is expected to be completed over the summer/fall of 2024.

Total Budget FY24-25: $900,000

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Minaret / Meridian Round-a-Bout (ST15)
During the development and design of the Minaret MUP project Staff and its consultant evaluated the possibility of a round -a-bout at the intersection of Meridian and Minaret. The initial alignment looked viable, so staff commissioned the completion of a project study report (PSR). The PSR was used to program funds to complete the project design. The project to be designed consists of roadwa y reconstruction and reconfiguration for approximately 400’-600’ along each of the four intersection legs at which point the improvements will tie into the existing roadways with existing lane configurations and striping. Asphalt concrete will be removed, the roa dway regraded, and new asphalt pavement installed for the roundabout alignment. Additionally, medians and curb and gutter will be added, and existing utilities will be adjusted to match new finish grade. MUPs and cart paths along with appropriate crossings will be integrated into the design. Construction funding is anticipated to come from future STIP shares.

Total Budget FY24-25: $180,000

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Main Street South Side MUP (TR2)
The Main Street MUP will close a gap between the Lakes Basin Path and the Town Loop MUP located at Callahan Way. The project is located on the south side of SR203 within the Caltrans ROW. The project includes 1700LF of separated ADA compliant asphalt multi-use path, drainage improvements, slope protection, transit improvements, lighting, signage and wayfinding, and other supportive infrastructure.

Thus far only the design phase has been funded. Construction funding is anticipated to come from future STIP shares.

Total Budget FY24-25: $250,000
Sherwin Trail Head Improvements (TR3)
MLR was awarded a grant from SNC to construct a new trailhead off Sherwin Creek Road. TOML partnered with MLR and will facilitate the construction process. The Sherwins Trailhead will create a seamless, integrated recreation experience for locals and visitors of the Mammoth Lakes Area and protect sensitive archaeological sites and habitat by defining and developing the trailhead. The current site has become a de-facto trailhead for a wide variety of recreation uses including hiking, mountain biking, equestrian use, dog walking, snowplay, snowmobiling, Nordic and backcountry skiing. Partnering with INF and the TOML, the trailhead facilities will include ADA accessible vault toilets, paved parking area, interpretive panels, bike rack and tools, waste receptacles, and bear-proof storage containers. The project

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was awarded in March of 2024. Construction will begin after July 4th, 2024. The project required $184,133 in additional funding to cover the construction contract and contingency. These funds were authorized by the Town Council at the time of the award.

Total Budget FY24-25: $1,116,833.30

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Additional Parking Lot in the Parcel (TT9)
This project will add approximately 50 parking spaces within the Parcel to assist with parking management plans. The added spaces are designed to meet specific needs of residents of the Parcel and are not intended as a public lot. As parking management plans are implemented throughout the Parcel the site may be converted in the future to housing units. The rough estimate for this project is $150,000. Funding is recommended from the Gas Tax/Road Fund reserves. The final location and design will be completed along with Phase II and III planning of the Parcel project.

Total Budget FY24-25: $150,000

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Development Impact Fees Fund (830 - 841)
The fees are restricted to capital projects and as fees come in and an appropriate project is moving forward, the budget will be amended based on actual funds received and passed through upon request from the proper agencies. The Town retains 4% of all funds received for administrative purposes. The fees in previous years have had significant increases based on large projects permitted within the Town. For FY24-25, staff expects to reflect a normal construction cycle for both building permit revenue and revenue for these DIF Accounts. Currently 10 of the funds have anticipated revenues and expenditures see chart below:

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Budget Assessment Districts Fund (850 - 861)
There are a number of assessment districts within the Town. The districts provide and ensure the continued maintenance, servicing, administration, and operation of various improvements and associated appurtenances located within the public right-of-way. The improvements include the installation, upgrade, construction, or reconstruction of irrigation and landscaping, street lighting, streets, sidewalks and driveways, curb and gutter, drainage facilities, and snowmelt tubing systems.

The Town contracts with NBS to perform annual Engineer’s reports on each of the assessment districts. These reports outline the current fund balance against anticipated maintenance and capital improvement projects. If a variance exists between available funds and anticipated needs, a district assessment is recommended.

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Fractional Mello Roos Fund (858)
The district was created to provide enhanced levels of service for designated Town Services.

FY04-05 services are used as a baseline for service, meaning these funds cannot be used for services below the baseline. Due to the reduction of service areas following the MLLA legal settlement, these funds are not available for use in most service areas. The one exception has been recreation where new amenities have been constructed providing levels of service beyond the baseline and therefore an opportunity to use the funds. The tax revenue is received from fractional ownership projects and was put in place to offset the loss of TOT revenue from such projects. This Fund has $818,000 in anticipated revenues for FY24-25 generated by charges for estimated tax revenue ($200,000), facility fees ($355,750), LA Kings sponsorship ($75,000) transfer-in ($187,000) and interest ($250). The Transfer-In is an allocation from Measure R and the General Fund to support CRC operations. The opening of the CRC, anticipated in the winter of FY22-23, has increased both revenue and expenditure expectations for this fund. The transfer in from Measure R was increased this year by $37,000 to $112,000. This was achieved by removing

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Measure R support for both Whitmore and Trails End Park maintenance. These expenses have been absorbed by the General Fund. The General Fund has also contributed $75,000 to the operating expenses for FY24-25.

Fund 910 – Garage Services
The Vehicle Service Fund, also referred to as the Garage, is used to track cost of maintenance for our vehicle fleet. The garage staff is comprised of four mechanics, two mechanic trainees, and one fleet superintendent. The staff maintains all vehicles in the Town’s fleet, including most repairs, fuel, and periodic maintenance. When work is performed on a vehicle, the department where that vehicle is assigned will be charged the cost of repair including staff time. This type of account is known as internal service fund where expenses are covered by work performed for other departments. The list of estimated charges, within the FY24-25 budget are listed below:

In addition to internal service, this department services outside entities that use our repair and fuel services. These outside agencies include Eastern Sierra Transit Authority, Schools, Fire, and some county vehicles. The Town last updated the hourly billing rate in FY2017-18. As cost of employees increases over time, the current rate of $108 is no longer sufficient as a billable rate to cover cost of operations. Staff did an analysis of other facilities specializing in diesel or heavy equipment repair and found the average billing rate of $198 per hour at these facilities. The staff also conducted an analysis of the labor cost and hours of direct billing work to determine the cost incurred by the Town to deliver these services. As the Superintendent was performing more administrative functions, 80% of the labor charge for that position was moved to other fleet and road maintenance departments therefore reducing the hourly rate necessary to cover costs. In the end, this analysis determined the appropriate billing rate to be $125 per hour. The fund has projected revenues of $1,465,653 and expenditure of $1,424,093 for FY24-25. These expenditures include a transfer out to Gas Tax of $60,000 to cover 50% of maintenance for the garage facility.

The proposed budget has a positive fund balance of $41,560 for the year.

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Fund 915 – Vehicle Replacement
The vehicle replacement fund was new for FY21-22, separating vehicle replacement from garage services as noted above. This change was made to separate two diverse but equally important motor pool functions and provide clarity on the cost of operations for the cost of vehicle replacement. The vehicle replacement portion supports the purchase of a replacement vehicle once the existing piece of equipment is all used up. This is accomplished using a calculation to estimate required annual set aside to cover future replacement costs based on expected lifespan, original vehicle costs and annual CPI increases. The vehicle is assigned to a division, within departments that use the vehicle, which is charged funds necessary for replacement. Below is a list of charges for the FY24-25 budget by operating department:

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-25 Final Budget Page 77

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4-25 Final Budget Page
78

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Debt Service / Future Capital Fund (990)
The Town has a variety of debt including the bond for the police station, the bond payment for the MLLA settlement, and the Community Recreation Center (CRC), supported by Measure R. The Town recently repaid a loan from the Vehicle Replacement program and has plans to establish a debt defeasance plan to repay the police station debt early. As these debts are satisfied, their current annual debt service will become available to pay other debt without impacting the annual operating budget.

The chart below reflects the debt payments made to external entities. A summary of the Town’s operating debt service is as follows:

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This fund also includes future capital components for technology improvement or minor facility improvements that are undesignated but available for any capital project. Staff recommends continuing the practice of transferring the full $2M payment for MLLA settlement and allowing funds to accumulate for future capital projects. The difference between the $2M allocation and actual debt payment will provide more than $130,000 per year. These excess funds are planned for use in debt service of the new civic center.

CONCLUSION
This concludes our annual budget process for FY24-25. In total, the Town’s budget is comprised of $98,924,509 in total resources (Revenue and Transfer In) and $106,766,936 in total appropriations leaving a negative change in fund balance of $7,842,428 across 37 Funds. Staff is committed to working within the Town’s financial limits and the policy direction provided by Town Council as we provide services to our community. Attached to the staff report is a line-item detail of the proposed budget. Staff have put considerable effort into delivering a thorough and thoughtful budget through a collaborative process including Town leadership as well as Council direction. Once a final budget is adopted, staff will begin work on a budget book to aid in public understanding of our budget details along with department goals and objectives for FY24-25.

The Town Staff and Council has implemented a conservative financial management approach to the Town’s budget. The approach manages the level of growth of the annual operating budget and allows for decisions throughout the year on directing unallocated revenues to specific Council priorities, responding to emergencies, matching funds for grants, fully funding reserves and related items without impacting current operations. This approach has served the Town well over the past several years.

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RESOLUTION NO. 24-

RESOLUTION OF THE TOWN COUNCIL

OF THE TOWN OF MAMMOTH LAKES, STATE OF CALIFORNIA,

ESTABLISHING THE APPROPRIATION LIMIT
FOR FISCAL YEAR 2024-25 PURSUANT TO ARTICLE XIIIB

OF THE STATE OF CALIFORNIA CONSTITUTION
WHEREAS, Article XIIIB of the California Constitution establishes a limit on the amount of tax revenue that can be appropriated by government jurisdictions; and WHEREAS, as a government jurisdiction, the Town of Mammoth Lakes must recalculate the limit annually by multiplying the previous year’s limit by the allowable adjustment factors, which include: (a) Town’s own growth or the growth of Mono County; and (b) the increase in California per capita income or the increase in the assessed valuation of non-residential property in the Town; and
WHEREAS, for Fiscal Year 2024-25, the Town chose to use the Mono County population change and the increase to the California per capita income as the adjustment factors.

NOW, THEREFORE, BE IT RESOLVED that the Appropriation Limit of the Town of Mammoth Lakes for Fiscal Year 2024-25 is $32,229,540.

APPROVED AND ADOPTED THIS 19th day of June 2024.

___________________________
BILL SAUSER, Mayor
ATTEST:
________________________________
JAMIE GRAY, Town Clerk

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ARTICLE XIIIB APPROPRIATIONS LIMIT
Fiscal Year 2024-25
Article XIIIB of the California Constitution was created by the passage of Proposition 4 in November 1979 and establishes a limit on the amount of tax revenue that can be appropriated by government jurisdictions. This limit is popularly known as the Gann Limit. Each year, the limit is recalculated by multiplying the previous year’s limit by adjusting factors for population growth and inflation. Proposition 111, passed in June 1990, gave cities the option of using their own growth or the growth of the entire county in which the city is located as the population adjustment factor. Cities were also given the option of using the increase in California Per Capita Income or the increase in the assessed valuation of non-residential property in the City as the inflation adjustment factor. Cities have the option each year of deciding which factor to use. For 2024-25, the Town of Mammoth Lakes is using the population growth of Mono County and the increase in California Per Capita Income.
2023-24 Appropriations Limit $31,910,937
2023-24 Adjustment Factors
Mono County Population Change = 0.9747 (-2.53% change)
California Per Capita Income Change = 1.0362 (3.62% change) Combined Change = 0.9747 x 1.0362 =1.0100
2024-25 Appropriations Limit $32,229,540
Not all Town appropriations are subject to the limitations of Article XIIIB. The intent of Proposition 4 was to restrict only the appropriation of “proceeds of taxes.” Determining which appropriations are subject to the limit requires classifying each funding source as either proceeds of taxes or non-proceeds of taxes. Property tax and local taxes are subject to limitation i.e. TOT, Measure R, and Measure U. State taxes that are subvented to the Town count against the Town’s limit if their use is unrestricted, as in the case of sales tax. State subventions that are restricted in use, such as gas tax and state grants, are applied against the State’s limit rather than the Town’s, so they are considered nonproceeds of taxes for the Town’s calculation. Interest income is prorated so that the interest earned on tax revenue is included as proceeds of taxes.

The Town’s other revenue sources are classified as non-proceeds of taxes: franchise fees, assessment districts, fines and penalties, license and permit fees, service charges, rentals and concessions, federal grants, internal service revenues and other miscellaneous revenues. Enterprise funds are also exempt from the limitation. Fund transfers are reappropriations of revenue and have already been included in the calculation of appropriations and are not counted twice.

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RESOLUTION NO. 24-

RESOLUTION OF THE TOWN COUNCIL

OF THE TOWN OF MAMMOTH LAKES, STATE OF CALIFORNIA,
AMENDING THE TOWN’S INVESTMENT POLICY
WHEREAS, the Town Council has adopted the Town’s Investment Policy; and WHEREAS, the Investment Policy is typically reviewed on an annual basis; and WHEREAS, upon a recent review of the Investment Policy, the Administrative Services/Finance Director recommends amending the policy to expand the limit of CAMP investment to $50,000,000, and REU investment to $8,000,000 to accommodate the Town’s investment needs.

NOW, THEREFORE, BE IT RESOLVED that the Town Council of Mammoth Lakes does hereby adopt updates to the attached Investment Policy and directs the Treasurer and Town Manager to prudently manage Town funds in accordance with the adopted policy.

APPROVED AND ADOPTED THIS 19th day of June 2024.

___________________________
BILL SAUSER, Mayor
ATTEST:
________________________________
JAMIE GRAY, Town Clerk

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Town of Mammoth Lakes Investment Policy – FY 24-25 (Updated 06/19/2024) Page 1

TOWN OF MAMMOTH LAKES

INVESTMENT POLICY
Fiscal Year 2024-25
I. Scope
The Town’s Investment Policy establishes a framework for prudent investment of the Town’s resources. This Policy is intended to apply to all funds and investment activities under the direct authority of the Town of Mammoth Lakes.

II. Definition of Treasurer
The Finance Director, or Finance Manager as designee to perform the duties, serves as the Town Treasurer.

III. Objectives
A. SAFETY: It is the primary duty and responsibility of the Treasurer to protect, preserve and maintain cash and investments placed in his/her trust on behalf of the citizens of the community.

B. LIQUIDITY: An adequate percentage of the portfolio should be maintained in liquid short-term securities, which can be converted to cash if necessary to meet disbursement requirements. Since all cash requirements cannot be anticipated, investments in securities with active secondary or resale markets is highly recommended. Emphasis should be on marketable securities with low sensitivity to market risk.

C. YIELD: Yield should become a consideration only after the basic requirements of safety and liquidity have been met.

D. MARKET-AVERAGE RATE OF RETURN: The investment portfolio shall be designed to attain a market-average rate of return throughout budgetary and economic cycles, taking into account the Town’s risk constraints, the cash flow characteristics of the Town’s portfolio, and State and Local laws, ordinances or resolutions that restrict investments.

E. DIVERSIFICATION: The investment portfolio will be diversified to avoid incurring unreasonable and avoidable risk regarding specific security types or individual financial institutions.

F. PRUDENCE: The Town’s investment strategies shall adhere to the guidance provided by the “prudent man rule”, which obligates a fiduciary to insure that:
“…investment shall be made with the exercise of that degree of judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation but for investment considering the probable safety of their capital as well as the probable income to be derived.”

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Town of Mammoth Lakes Investment Policy – FY 24-25 (Updated 06/19/2024) Page 2 G. PUBLIC TRUST: All participants in the investment process shall act as custodians of the public trust. Investment officials shall recognize that the investment portfolio is subject to public review and evaluation. The overall program shall be designed and managed with a degree of professionalism that is worthy of the public trust. In a diversified portfolio it must be recognized that occasional measured losses are inevitable and must be considered within the context of the overall portfolio’s investment return, provided that adequate diversification has been implemented.

IV. Delegation of Authority
The Treasurer and the Town Manager shall act jointly to make investments on behalf of the Town of Mammoth Lakes. Neither the Treasurer nor the Town Manager has authority to make investments independently of the other. An Investment Summary Sheet (Exhibit A) shall be signed by the Treasurer and Town Manager for all investments other than LAIF.

Investments shall be limited to the types of investments specified in Section VII. When specific Town Council approval is required, the investment shall not be made until the Treasurer receives and files with the Town Clerk written evidence of such Council approval.

V. Reporting
The Treasurer shall submit a monthly investment report to the Town Council of Mammoth Lakes. This report may be posted online for the Town Council’s and public’s view. This report will include all required elements of the monthly report as prescribed by Government Code Section 53646.

Required elements of the monthly report:
 Type of investment.
 Institution.
 Date of maturity.
 Amount of deposit or cost of the security.
 Current market value of securities with maturity in excess of 12 months.  Rate of interest.
 Statement that there are sufficient and readily available liquid funds to meet the next 30 days’ obligations.
 Accrued interest as prescribed by the California Section 53646, if required by the Legislative Body.

VI. Investment Instruments
Authorized investment instruments which may be utilized, and which are in accordance with Government Code Section 53601 are as follows:

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Town of Mammoth Lakes Investment Policy – FY 24-25 (Updated 06/19/2024) Page 3 Maximum
Percentages Maximum
Permitted Investments/Deposits or Amount Maturity
Investment Type A:

Securities of the US Government Unlimited 5 years
Certificates of Deposit Unlimited 5 years
Commercial Paper (A1, P1 only) 30% 180 days
LAIF $75,000,000 n/a
CAMP $50,000,000 n/a
Mono County Investment Pool $8,000,000 n/a
Passbook Deposits ---- n/a
Investment Type B:

Negotiable Certificates of Deposit 30% 5 years
Bankers Acceptances 40% 270 days
Repurchase agreements ---- 1 year
Mutual Funds 15% 5 years
Medium Term Notes 30% 5 years
Type A investments do not require any specific approval of the Council. All Type B investments require a specific resolution of approval of the Town Council prior to the investment purchase/deposit.

VII. Internal Controls
Internal controls are designed to prevent losses of public funds arising from fraud, employee error, misrepresentation of third parties, unanticipated changes in financial markets, or imprudent actions by employees and officers of the Governmental Agency. A System of Internal Control shall be documented and attached hereto (Exhibit B).

VIII. Maturities
Maturities shall be in conformance with the legal limits as specified in Section VII.

Although the allowable maturity limit is up to five years for certain types of investments, the focus the investment should remain within the immediate two-year period for reasons of prudence.

IX. Banks and Securities Dealers
In selecting financial institutions for the deposit or investment of Government Agency funds, the Treasurer shall consider the creditworthiness of institutions. The Treasurer shall continue to monitor financial institutions’ credit characteristics and financial history throughout the period in which agency funds are deposited or invested.

X. Risk Tolerance
The Governmental Agency recognizes that investment risks can result from issuer defaults, market price changes or various technical complications leading to temporary illiquidity.

Portfolio diversification is employed as a way to control risk. The Treasurer and Town

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Town of Mammoth Lakes Investment Policy – FY 24-25 (Updated 06/19/2024) Page 4 Manager are expected to display prudence in the selection of securities, as a way to minimize default risk. No individual investment transaction shall be undertaken, which jeopardizes the total capital position of the overall portfolio. Certificates of Deposit shall be limited to FDIC insurance limitations. The Treasurer shall periodically establish guidelines and strategies to control risks of default, market price changes and illiquidity.

In addition to these general policy considerations, the following specific policies will be strictly observed.

A. All transactions will be executed on a delivery versus payment basis.

B. A competitive bid process, when practical, will be used to place all investment purchases.

XI. Safekeeping and Custody
The Treasurer is responsible for maintaining the proper mix of investments, taking into consideration limits imposed by law and the need for liquidity.

All investments shall be held in the name of the Town of Mammoth Lakes. The Town Council shall from time to time execute such documents as are necessary to provide evidence of the Treasurer’s and Town Manager’s joint trading authority as set forth in this document.

XII. Annual Review and Confirmation of the Investment Policy The Investment Policy shall be reviewed and confirmed annually by the Town Council of Mammoth Lakes.

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IN NON-LAIF INSTRUMENTS
The following investment has been reviewed by both the
Finance Director and the Town Manager and has been found to be in conformance with the Town's investment policy
SETTLEMENT DATE:

MATURITY DATE:

INVESTMENT:

PAR VALUE:

PRICE:

PRINCIPAL COST:

ACCRUED INTEREST:

TOTAL COST:

DATE INTEREST PAID:

CUSIP:

YIELD TO MATURITY:

INTEREST RATE:

We hereby confirm the above investment directive on behalf of the Town of Mammoth Lakes.

Finance Director Town Manager

WAS MADE WHEN INVESTING TOWN FUNDS

EXHIBIT A

INVESTMENT SUMMARY SHEET

THE PURPOSE OF THIS DOCUMENT IS

TO CONFIRM THAT A JOINT DECISION

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EXHIBIT B

INTERNAL CONTROL SYSTEM FOR TREASURY FUNCTION

OBJECTIVES OF INTERNAL CONTROL
Internal control is the plan of organization and all related systems established by the management’s objectives of ensuring, as far as practicable:
 The orderly and efficient conduct of business, including adherence to management policies
 The safeguarding of assets
 The prevention or detection of errors and fraud
 The accuracy and completeness of the accounting records  The timely preparation of reliable financial information

LIMITATION OF INTERNAL CONTROL
No internal control system, however elaborate, can by itself guarantee the achievement of management’s objectives. Internal control, because of its inherent limitations, can only provide reasonable assurance that the objectives are met.

Elements of a system of internal control are the means by which the Town of Mammoth Lakes can satisfy the objectives of internal control.

CONTROL ELEMENTS
The Treasurer/Finance Manager and Town Manager will approve investment transactions.

The Treasurer/Finance Manager will execute investment transactions.

Recording of investment transactions in the Town’s accounting records should be done by the Town’s Finance Manager and approved by the Finance Director/Town Manager.

The Town’s Finance Manager should do verification of investment, i.e., match broker confirmation to the Town’s Accounting Records.

Periodic review of the investment portfolio as prepared by the Treasurer/Finance Manager, specifically investment types, purchase price, market values, maturity dates, investment yields, conformance to stated investment policy shall be performed on an ongoing basis by the Town Manager, and annually by the external auditors during the course of the annual audit.

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RESOLUTION NO. 24-

RESOLUTION OF THE TOWN COUNCIL

OF THE TOWN OF MAMMOTH LAKES, STATE OF CALIFORNIA,
AMENDING THE TOWN’S RESERVE POLICY
WHEREAS, the Town Council has adopted the Town’s Reserve Policy; and WHEREAS, the Reserve Policy is typically reviewed on an annual basis; and WHEREAS, annual review includes update of the baseline revenue used to determine policy parameters; and
WHEREAS, the Town Manager recommends a change in baseline revenue, to approximate General Fund revenue for FY2024-25, increasing baseline to $33,000,000; and WHEREAS, no other adjustments to rates or structure are recommended for the Town’s reserve policy update.

NOW, THEREFORE, BE IT RESOLVED that the Town Council of Mammoth Lakes does hereby adopt the attached Reserve Policy and directs the Treasurer and Town Manager to prudently manage Town resources in accordance with the adopted policy.

APPROVED AND ADOPTED THIS 19th day of June 2024.

___________________________
BILL SAUSER, Mayor
ATTEST:
________________________________
JAMIE GRAY, Town Clerk

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1 Reserve Policy – Town of Mammoth Lakes
Updated June 2024
General Provision:

A comprehensive reserve strategy is a crucial part of sound financial management for any municipality.

This is true for Town of Mammoth Lakes is particularly highlighted because of the heavy reliance on the single revenue stream of Transient Occupancy Tax (TOT). Revenue form TOT accounts for over 60% of the Town’s General Fund budgeted revenue. To prepare for and respond to unknown adverse financial conditions, it is recommended that the Town’s Reserve for Economic Uncertainty and the operating reserve combine be funded at an amount equal to or grated than 25% of Total General Fund Revenue.

The Reserve Policy is comprised of four components, three for operational needs and one for debt service payments, all combine for a comprehensive reserve strategy. The components include Reserve for Economic Uncertainty (REU), Operating Reserve (OR), Contingency, and Debt Reserve. This policy is reviewed on an annual basis during final budget adoption to review the established baseline revenue used in calculating REU and OR.

Component #1 – Reserve for Economic Uncertainty (REU)
Purpose: To minimalize the impact to town services in the event of a long-term revenue shortfall from an economic downturn or other localized event that negatively affects the town's revenue sources. These localized events could be in the form of a natural disaster that affects the town itself or access to the town. These events are unique and significant in order to engage use of the REU.

Funding Target: $6,600,000 for FY24-25 based on 20% of Baseline Revenue established for FY24-25.

Baseline must meet or exceed the General Fund Revenue in the adopted budget for the Fiscal Year.

Funding Priority: The REU is the most important component of the reserve strategy as it maintains the most critical security for continued Town operations. For that reason, this fund must take priority to maintain 100% funded status if possible. The engagement of this policy means the town has experienced

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2 a significant emergency and therefore may have a long recovery period. Following the economic recovery from such an emergency, Town Council would determine priorities of funding depending on current town needs.

Fund Location: These funds reside in the Mono County investment pool and any interest earned on these funds are rolled into the REU balance.

Component #2 – Operating Reserve (OR)
Purpose: This component can be used to weather short term economic impacts or to take advantage of unanticipated funding needs such as grant opportunities, response to damaged facilities, unanticipated short-term declines in revenue or new state and federal cost mandates. This component is more flexible than the REU and therefore could be engaged more frequently.

Engagement Timing: This tool may be engaged when revenues fall short of needs in any year, which are not offset by a reduction in expenses. The funds are authorized for use by town council, usually in response to a request from staff. This fund will be fully depleted in advance of engaging the REU.

Funding Target: $1,650,000 for FY24-25 based on 5% of Baseline Revenue established for FY24-25.

Baseline must meet or exceed the General Fund Revenue in the adopted budget for the Fiscal Year.

Funding Priority: We do have a number of revenue sources that are not budgeted on an annual basis due to their uncertainty. It is possible to designate any revenue received from these sources to fund the Operating Reserve. This entry could be made on a quarterly basis and minimize the request of Fund Balance or other one-time dollars to fund this account. If the qualifying events were severe enough to engage the REU funds, this re-funding process would begin once REU is fully restored.

Fund Location: These funds reside in the Town's LAIF investment pool. This would allow for interest earning as well as immediate access when needed.

Component #3 – Contingency
Purpose: This fund allows for flexibility for rapid response to small projects or unanticipated needs that arise such as damages to town facilities, repair or replacement of equipment, offsetting small amounts of variance on revenue estimates or expenses like postage and office supplies.

Engagement Timing: This tool is generally allocated at Town Manager’s designation as needed or as authorized by Town Council direction.

Funding Target: This component is a part of the normal budget process and is budgeted at $100,000 per year.

Funding Priority: This component is allocated during the annual budget process for the Town’s operating budget. Funds can be used at the direction of Council or Town Manager and once used will not be funded again during the year. To this point, these funds should be reserved for the most important projects or

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3 one-time unanticipated costs. Any funds remaining in the account at the end of the year may be shifted to REU or OR to remain within the reserve structure.

Fund Location: These funds reside in the Town's LAIF investment pool. This would allow for interest earning as well as immediate access when needed.

Component #4 – Debt Reserve
Purpose: This reserve secures money to cover the Town’s debts in the event of a long-term revenue shortfall from an economic downturn or other localized event that negatively affects the town's revenue sources.

Engagement Timing: This reserve can only be engaged at Town Council direction, who would determine that a qualifying event has occurred and the level of impact from the emergency warrants the use of the REU for operational needs and employ this reserve to cover debt payments made from the General Fund.

Funding Target: $1,100,000 which is 50% of the annual payments for debt service paid by the General Fund. The chart below was used to establish the funding target. Any additional debt secured by the Town and serviced with payments from the General Fund would be added to this calculation.

Funding Priority: This component is fully funded, and any new General Fund debt would require immediate increase to remain within policy.

Fund Location: These funds reside in the Town's LAIF investment pool. This would allow for interest earning as well as immediate access when needed.

Conclusion:

This policy outlines a secure plan for funding for unknown circumstances, loss of revenue or substantial unfunded expenditures. When fully funded this reserve policy will provide 25% or more of the Town’s General Fund operating budget with an additional 50% of annual debt payments made from the General Fund. Town administration and Finance leadership believe this policy provides a financially sound reserve capacity to support the town should the need arise. This policy outlines the recommended amounts for each category. There is nothing in the policy that prohibits Council from allocated funds beyond the currently stated targets.

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RESOLUTION NO. 24-

RESOLUTION OF THE TOWN COUNCIL

OF THE TOWN OF MAMMOTH LAKES, STATE OF CALIFORNIA,
REAFFIRMING THE TOWN’S DEBT MANAGEMENT POLICY
WHEREAS, the Town of Mammoth Lakes (the “Town”) seeks to reaffirm its formal Debt Management Policy; and
WHEREAS, the Town or its related entity the Mammoth Lakes Municipal Services Corporation has issued bonds or other financing obligations (collectively, “Local Debt”) subject to the filing of reports with the California Debt and Investment Advisory Commission (“CDIAC”) pursuant to Section 8855 of the California Government Code (“Section 8855”); and
WHEREAS, Senate Bill No. 1029 (“SB 1029”), effective January 1, 2017, amended Government Code Section 8855 to augment the information that must be provided by municipal issuers of Local Debt to CDIAC; and
WHEREAS, prior to SB 1029, Section 8855 has required municipal issuers of Local Debt to file a Report of Proposed Debt Issuance at least 30 days prior to the sale of any Local Debt issue; and
WHEREAS, SB 1029 amends the requirements of the Report of Proposed Debt Issuance to require that this report include a certification by the municipal issuer (the “Town”) that it has adopted local debt policies concerning the use of Local Debt and that the contemplated Local Debt issuance is consistent with those local debt policies; and WHEREAS, SB 1029 further requires that the local debt policy subject to the aforementioned certification must include all five of the following elements: (1) the purposes for which the debt proceeds may be used; (2) the types of debt that may be issued; (3) the relationship of the debt to, and integration with, the issuer’s capital improvement program or budget, if applicable; (4) policy goals related to the issuer’s planning goals and objectives; and (5) the internal control procedures that the issuer has implemented, or will implement, to ensure that the proceeds of the proposed debt issuance will be directed to the intended use; and WHEREAS, the Mammoth Lakes Municipal Services Corporation may also, in the future, issue Local Debt for which a Report of Proposed Debt Issuance, including the aforementioned certification, will need to be filed with CDIAC; and WHEREAS, to facilitate issuance of Local Debt in the future and the ability of the Town and its related entities to make the requisite local debt policies certification required in connection therewith by subdivision (i) of Section 8855, as amended by SB 1029, the Town desires to adopt the Debt Management Policy to include all five elements required by Section 8855, as amended by SB 1029, as set forth in the proposed Debt Management Policy attached hereto and incorporated by reference.

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Resolution No. 24-

Page 2 ends

NOW, THEREFORE, THE TOWN COUNCIL OF THE TOWN OF MAMMOTH LAKES DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:

SECTION 1. The above recitals are true and correct.

SECTION 2. The Debt Management Policy, as attached hereto, is hereby approved and adopted and shall be made applicable to all Local Debt issued by or on behalf of the Town of Mammoth Lakes including the Mammoth Lakes Municipal Services Corporation.

SECTION 3. The Town Manager, the Town Treasurer, the Administrative Services Director, and all other officers of the Town are hereby authorized and directed, jointly and severally, to do any and all things to effectuate the purposes of this Resolution and to implement the Policy, and any such actions previously taken by such officers are hereby ratified and confirmed.

APPROVED AND ADOPTED THIS 19th day of June 2024.

___________________________
BILL SAUSER, Mayor
ATTEST:
________________________________
JAMIE GRAY, Town Clerk

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Town of Mammoth Lakes,
California
Debt Management Policy
FY2024-25
JNA Consulting Group, LLC
410 Nevada Way, Suite 200
Boulder City, NV 89006
702-294 Page 322 of 455 -5100 fax 702-294-5145
Debt Management Policy Town of Mammoth Lakes
i

EXECUTIVE SUMMARY
This Debt Management Policy (the “Debt Policy”) has been developed to provide guidance in the issuance and management of debt by the Town of Mammoth Lakes (the “Town” or “Mammoth Lakes”) or any other public agency for which the Town Council sits as its legislative body and is intended to comply with Government Code Section 8855(I), effective on January 1, 2017. The main objectives are to establish conditions for the use of debt; to ensure that debt capacity and affordability are adequately considered; to minimize the Town’s interest and issuance costs; to maintain the highest possible credit rating; to provide complete financial disclosure and reporting; and to maintain financial flexibility for the Town.

This Debt Policy was approved by the Town Council on 6/21/2023. The Debt Policy may be amended by the Town Council as it deems appropriate from time to time in the prudent management of the debt of the Town.

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Debt Management Policy Town of Mammoth Lakes
ii

TABLE OF CONTENTS
Page
FINDINGS ....................................................................................................................................................... 1 POLICIES....................................................................................................................................................... 2 Purposes For Which Debt May Be Issued ............................................................................................ 2 Long-Term Debt..................................................................................................................................... 2 Short-term Debt .................................................................................................................................... 3 Financings on Behalf of Other Entities................................................................................................. 4 TYPES OF DEBT ............................................................................................................................................ 5 General Obligation (GO) Bonds ............................................................................................................ 5 Revenue Bonds...................................................................................................................................... 5 Lease-Backed Debt/Certificates of Participation (COP/Lease Revenue Bonds) ................................ 5 Special Assessment/Special Tax District Debt ..................................................................................... 5 Tax Allocation Bonds............................................................................................................................. 6 Multi-Family Mortgage Revenue Bonds............................................................................................... 6 HUD Section 108 Loan Guarantee Program......................................................................................... 6 METHOD OF SALE........................................................................................................................................ 7 Competitive Sale.................................................................................................................................... 7 Negotiated Sale..................................................................................................................................... 7 Private Placement ................................................................................................................................. 7 RELATIONSHIP OF DEBT TO CAPITAL IMPROVEMENT PROGRAM AND BUDGET................................... 8 POLICY GOALS RELATED TO PLANNING GOALS AND OBJECTIVES.......................................................... 8 INTERNAL CONTROL PROCEDURES........................................................................................................... 9 WAIVERS OF DEBT POLICY.......................................................................................................................... 9

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Debt Management Policy Town of Mammoth Lakes
1 “FINDINGS”
This Debt Policy shall govern all debt undertaken by the Town. The Town hereby recognizes that a fiscally prudent debt policy is required to:
• Maintain the Town’s sound financial position.
• Ensure the Town has the flexibility to respond to changes in future capital needs and service priorities, revenue levels, and operating expenses.
• Protect the Town’s credit-worthiness.
• Ensure that all debt repayment is structured to protect both current and future taxpayers, ratepayers and constituents of the Town and fit within the projected revenues available to pay debt service.
• Ensure that the Town’s use and repayment of debt is consistent with the Town’s planning goals and objectives and capital improvement program or budget, as applicable. • Encourage those that benefit from a proposed facility or improvement to pay the cost of that facility or improvement to minimize the impact on limited general fund resources.

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Debt Management Policy Town of Mammoth Lakes
2 “POLICIES”
“Purposes for Which Debt May Be Issued”
The Town will consider the use of debt financing primarily for capital improvement projects (CIP) when the project’s useful life will equal or exceed the term of the financing and when resources are identified sufficient to fund the debt service requirements. An exception to this CIP driven focus is the issuance of short-term instruments such as tax and revenue anticipation notes, which are to be used for prudent cash management purposes and conduit financing, as described below. Bonded debt should not be issued for projects with minimal public benefit or support, or to finance normal operating expenses.

If a department has any project which is expected to use debt financing, the department director is responsible for providing the Town Manager and the Administrative Services Director with reasonable cost estimates, including identifying sources for the payment for debt service. This will allow for an analysis of the project’s potential impact on the Town’s debt capacity and limitations. The department director shall also provide an estimate of any incremental operating and/or additional maintenance costs associated with the project and identify sources of revenue, if any, to pay for such incremental costs. “Long-Term Debt”
Long-term debt may be issued to finance or refinance the construction, acquisition, and rehabilitation of capital improvements and facilities, equipment and land to be owned and/or operated by the Town. Longterm debt financings are appropriate when the following conditions exist:
• When the project to be financed is necessary to provide basic services. • When the project to be financed will provide benefit to constituents over multiple years. • When total debt does not constitute an unreasonable burden to the Town and its taxpayers and ratepayers.
• When the debt is used to refinance outstanding debt to produce debt service savings or to realize the benefits of a debt restructuring.
•Long-term debt financings will not generally be considered appropriate for current operating expenses and routine maintenance expenses.

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Debt Management Policy Town of Mammoth Lakes
3 The Town may use long-term debt financings subject to the following conditions:
•The project to be financed has been or will be approved by the Town Council. •The weighted average maturity of the debt (or the portion of the debt allocated to the project) will not exceed the average useful life of the project to be financed by more than 20%, unless specific conditions exist that would mitigate the extension of time to repay the debt and it would not cause the Town to violate any covenants to maintain the tax-exempt status of such debt, if applicable. •The Town estimates that sufficient income or revenues will be available to service the debt through its maturity and to the extent possible repayment will come from user fees or dedicated revenues and not from general fund sources.
•The Town determines that the issuance of the debt will comply with the applicable requirements of state and federal law.
•The Town considers the improvement/facility to be of vital, time-sensitive need of the community and there are no plausible alternative financing sources. •Periodic reviews of outstanding long-term debt will be undertaken to identify refunding opportunities. Refunding will be considered (within federal tax law constraints, if applicable) if and when there is a net economic benefit of the refunding. Refundings which are non-economic may be undertaken to achieve Town objectives relating to changes in covenants, call provisions, operational flexibility, tax status of the issuer, or the debt service profile.

In general, refundings which produce a net present value savings of at least three percent (3%) of the refunded par amount will be considered economically viable. Refundings which produce a net present value savings of less than three percent (3%) will be considered on a case-by-case basis, and are subject to Town Council approval. Advance refundings will also be evaluated based on the future outlook for interest rates, breakeven analysis and the potential use of the estimated debt service savings. “Short-term Debt” Short-term borrowing may be issued to generate funding for cash flow needs in the form of Tax and Revenue Anticipation Notes (TRAN).

Short-term borrowing, such as commercial paper, and lines of credit, will be considered as an interim source of funding in anticipation of long-term borrowing. Short-term debt may be issued for any purpose for which long-term debt may be issued, including capitalized interest and other financing-related costs. Prior to issuance of the short-term debt, a reliable revenue source shall be identified to secure repayment of the debt.

The final maturity of the debt issued to finance the project shall be consistent with the economic or useful life of the project and, unless the Town Council determines that extraordinary circumstances exist, must not exceed seven (7) years.

Short-term debt may also be used to finance short-lived capital projects; for example, the Town may undertake lease-purchase financing for equipment, and such equipment leases may be longer than 7 years. “Financings on Behalf of Other Entities”
The Town may also find it beneficial to issue debt on behalf of other governmental agencies or private third parties in order to further the public purposes of Town. In such cases, the Town shall take reasonable steps to confirm the financial feasibility of the project to be financed and the financial solvency of any borrower and

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Debt Management Policy Town of Mammoth Lakes
4 that the issuance of such debt is consistent with the policies set forth herein. In no event will the Town incur any liability or assume responsibility for payment of debt service on such debt.

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Debt Management Policy Town of Mammoth Lakes
5 “TYPES OF DEBT”
In order to maximize the financial options available to benefit the public, it is the policy of the Town of Mammoth Lakes to allow for the consideration of issuing all generally accepted types of debt, including, but not exclusive to the following:
“General Obligation (GO) Bonds”
General Obligation Bonds are suitable for use in the construction or acquisition of improvements to real property that benefit the public at large. Examples of projects include libraries, parks, and public safety facilities. All GO bonds shall be authorized by the requisite number of voters in order to pass. “Revenue Bonds”
Revenue Bonds are limited-liability obligations tied to a specific enterprise or special fund revenue stream where the projects financed clearly benefit or relate to the enterprise or are otherwise permissible uses of the special revenue. An example of projects that would be financed by a Revenue Bond would be improvements to a utility system, which would be paid back with money raised from the rates and charges to water users.

Generally, no voter approval is required to issue this type of obligation but in some cases, the Town must comply with proposition 218 regarding rate adjustments. A dedicated voter approved tax measure that allows the use of the tax for debt is another example.
“Lease-Backed Debt/Certificates of Participation” (COP/Lease Revenue Bonds) Issuance of Lease-backed debt is a commonly used form of debt that allows a Town to finance projects where the debt service is secured via a lease agreement and where the payments are budgeted in the annual budget appropriation by the Town from the general fund. Lease-Backed debt does not constitute indebtedness under the state or the Town’s constitutional debt limit and does not require voter approval. Lease Revenue Bonds may be issued by the Mammoth Lakes/Guadalupe Valley Municipal Improvement District Public Financing Authority on behalf of the Town.
“Special Assessment/Special Tax District Debt”
The Town will consider requests from developers for the use of debt financing secured by property based assessments or special taxes to provide for necessary infrastructure for new development only under strict guidelines adopted by the Town Council, which may include minimum value-to-lien ratios and maximum tax burdens. Examples of this type of debt are Assessment Districts (AD) and Community Facilities Districts (CFD) sometimes referred to as Mello-Roos Districts. In order to protect bondholders as well as the Town’s credit rating, the Town will also comply with all State guidelines regarding the issuance of special tax district or special assessment debt, as well as any policy required to be adopted under Government Code Section 53312.7.
“Tax Allocation Bonds”
Tax Allocation Bonds are special obligations that are secured by the allocation of tax increment revenues that are generated by increased property taxes in the designated redevelopment area. Tax Allocation Bonds are not debt of the Town. Due to changes in the law affecting California Redevelopment agencies with the passage of ABX1 26 (as amended, the Dissolution Act) as codified in the California Health and Safety Code, the Town may not form a Redevelopment Agency and will not be able to issue tax allocation bonds.

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Debt Management Policy Town of Mammoth Lakes
6 “Multi-Family Mortgage Revenue Bonds”
The Town is authorized to issue mortgage revenue bonds to finance the development, acquisition and rehabilitation of multi-family rental projects. The interest on the bonds can be exempt from Federal and State taxation. As a result, bonds provide below market financing for qualified rental projects. In addition, the bonds issued can qualify projects for allocations of Federal low-income housing tax credits, which can provide a significant portion of the funding necessary to develop affordable housing. “HUD Section 108 Loan Guarantee Program”
The U.S. Department of Housing and Urban Development (HUD) Section 108 Loan Guarantee Program allows cities to use their annual Community Development Block Grant (CDBG) entitlement grants to obtain federally guaranteed funds large enough to stimulate or pay for major community development and economic development projects. The program does not require a pledge of the Town’s General Fund, only of future CDBG entitlements. By pledging future CDBG entitlement grants as security, the Town can borrow at favorable interest rates because of HUD’s guarantee of repayment to investors.

The Town may from time to time find that other forms of debt would be beneficial to further its public purposes and may approve such debt without an amendment of this Debt Policy.

To maintain a predictable debt service burden, the Town will give preference to debt that carries a fixed interest rate. An alternative to the use of fixed rate debt is variable rate debt. The Town may choose to issue securities that pay a rate of interest that adjusts after a pre-determined period according to a pre-determined formula or a rate resulting from a periodic remarketing of securities. When making the determination to issue bonds with a variable rate, consideration will be given in regard to the useful life of the project or facility being financed or the term of the project requiring the funding, market conditions, credit risk and third-party risk analysis, and the overall debt portfolio structure when issuing variable rate debt for any purpose. The maximum amount of variable-rate debt should be limited to no more than 20 percent of the total debt portfolio.

The Town will not employ derivatives, such as interest rate swaps, in its debt program. A derivative product is a financial instrument which derives its own value from the value of another instrument, usually an underlying asset such as a stock, bond, or an underlying reference such as an interest rate. Derivatives are commonly used as hedging devices in managing interest rate risk and thereby reducing borrowing costs. However, these products bear certain risks not associated with standard debt instruments. “Internal Debt”
The Town may from time to time use its own internal resources to fund defined CIP projects, acquire land and facilities or to meet operational needs. The Town Council must authorize such borrowing and may set the term, interest rate if any, and define the source of repayment. The use of internal debt shall meet any legal restrictions placed on the use of funds by federal or state law, or Town ordinances.

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Debt Management Policy Town of Mammoth Lakes
7 “METHOD OF SALE”
Bonds can generally be sold at a competitive sale or negotiated sale, or be privately placed. “Competitive Sale”
Offering documents are sent to any firm interested in purchasing the bonds. A day and time are chosen for the sale and bonds are awarded to the firm offering the lowest true interest cost on the bonds (the “TIC”).

The TIC is the discount rate which results in a present value of the future debt service payments equal to amount bid for the bonds.
“Negotiated Sale”
One firm, or group of firms, is chosen in advance to offer the bonds for sale. At the time of sale, interest rates and other terms of the bonds are negotiated with the Underwriter. “Direct Placement”
A purchaser, usually an individual or bank, is identified and the bonds are placed directly. The purchaser can be selected through either a competitive or negotiated process. Interest rates and other terms of the bonds are negotiated with the selected purchaser.

The Town will generally pursue a competitive process for selling its bonds. There are certain circumstances under which the Town would consider a negotiated sale or private placements. Such circumstances include, but are not limited to;
•Bonds issued with a variable rate of interest
•Bonds rated below A- or not rated
•Very small or very large bond issues
•Unstable or highly volatile markets
•Bonds with unusual security or structure
•Bonds for which a negotiated sale provides other benefits such as flexible timing or local marketing of bonds
If the Town determines that a negotiated sale is warranted it will select an underwriting firm(s) based on a competitive process and/or prior performance. The selection of an underwriter(s) will be based on a determination of the firm that demonstrates its ability to obtain the overall best interest rate for Town while achieving the Town’s goals with the financing. Consideration in making this determination will be given to the firm’s experience with similar financings, proposed compensation structure and marketing plan.

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Debt Management Policy Town of Mammoth Lakes
8 “RELATIONSHIP OF DEBT TO CAPITAL IMPROVEMENT PROGRAM AND BUDGET” The Town intends to issue debt for the purposes stated in this Debt Policy and to implement policy decisions incorporated in the Town’s capital budget and the capital improvement plan.

The Town shall strive to fund the upkeep and maintenance of its infrastructure and facilities due to normal wear and tear through the expenditure of available operating revenues. The Town shall seek to avoid the use of debt to fund infrastructure and facilities improvements that are the result of normal wear and tear, unless a specific revenue source has been identified for this purpose.

The Town shall integrate its debt issuances with the goals of its capital improvement program by timing the issuance of debt to ensure that bond proceeds are available when needed in furtherance of the Town’s public purposes.

The Town shall seek to issue debt in a timely manner to avoid having to make unplanned expenditures for capital improvements or equipment from its general fund or holding bond proceeds for extended periods while earning negative arbitrage.
“POLICY GOALS RELATED TO PLANNING GOALS AND OBJECTIVES” The Town is committed to financial planning, maintaining appropriate reserves levels and employing prudent practices in governance, management and budget administration. The Town intends to issue debt for the purposes stated in this Debt Policy and to implement policy decisions incorporated in the Town’s annual operating budget.

It is a policy goal of the Town to protect taxpayers, ratepayers and constituents by utilizing conservative financing methods and techniques to obtain the highest practical credit ratings (if applicable) and the lowest practical borrowing costs.

The Town will comply with applicable state and federal law as it pertains to the maximum term of debt and the procedures for levying and imposing any related taxes, assessments, rates and charges.

Except as described in Section 2.A., when refinancing debt, it shall be the policy goal of the Town to realize, whenever possible, and subject to any overriding non-financial policy considerations minimum net present value debt service savings equal to or greater than 3% of the refunded principal amount.

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Debt Management Policy Town of Mammoth Lakes
9 “INTERNAL CONTROL PROCEDURES”
When issuing debt, in addition to complying with the terms of this Debt Policy, the Town shall comply with any other applicable policies regarding initial bond disclosure, continuing disclosure, post-issuance compliance, and investment of bond proceeds.

The Town will periodically review the requirements of and will remain in compliance with the following:
•any continuing disclosure undertakings under SEC Rule 15c2-12, •any federal tax compliance requirements, including without limitation arbitrage and rebate compliance, related to any prior bond issues, and
•the Town’s investment policies as they relate to the investment of bond proceeds.

Whenever reasonably possible, proceeds of debt will be held by a third-party trustee and the Town will submit written requisitions for such proceeds. The Town will submit a requisition only after obtaining the signature of the Town Manager or the Administrative Services Director or a designee. “WAIVERS OF DEBT POLICY”
There may be circumstances from time to time when strict adherence to a provision of this Debt Policy is not possible or in the best interests of the Town and the failure of a debt financing to comply with one or more provisions of this Debt Policy shall in no way affect the validity of any debt issued by the Town in accordance with applicable laws.

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RESOLUTION NO. 24-

RESOLUTION OF THE TOWN COUNCIL

OF THE TOWN OF MAMMOTH LAKES, STATE OF CALIFORNIA, ADOPTING THE ANNUAL BUDGET FOR FISCAL YEAR 2024-25
WHEREAS, the Town Manager submitted to the Town Council a proposed Annual Budget for the Town of Mammoth Lakes for Fiscal Year 2024-25; and WHEREAS, public notice has been published and a public hearing was held on the proposed Annual Budget on June 19, 2024 at the Town Council Chamber at which time interested persons desiring to be heard were given such opportunity; and WHEREAS, after the conclusion of the public hearing, the Town Council further considered the proposed Annual Budget and directed revisions as warranted.

NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF MAMMOTH LAKES, as follows:

1. That the foregoing statements are true and correct.

2. The document entitled “Town of Mammoth Lakes Proposed Fiscal Year 2024-25 Operating Budget,” which is incorporated herein by reference only, is hereby adopted with the following revisions, modifications, and policy limitations as the Annual Budget for Fiscal Year 2024-25 for the Town of Mammoth Lakes, CA, effective July 1, 2024:
a) All revisions and changes which are necessary and in accordance with the Town Council’s direction during consideration and review are incorporated as part of the adoption of said budget.
b) Any adjustment of estimated year-end reserves (Fund Balance) to actual. c) Incorporation of encumbered funds by contracts, purchase orders, grants, funds held in trust, authorized projects, programs, or capital projects. d) Any corrections of mathematical or typographical errors. e) Any adjustments authorized pursuant to Town Council action or resolution that changes or sets salaries, benefits, or terms and conditions of employment for any position, employee, or unit of employees. f) Any adjustments to revenue estimates as a result of adopted changes to the Town’s fee schedule.
g) Any adjustments to revenues and expenditures due to the receipt of specific dedicated funds.

3. Grant funds are continuously appropriated for the purpose approved during the term of the grant agreement and pursuant to the budget established in each grant application and contract as approved by the Town.

4. Funds held in trust are continuously appropriated for the purposes for which such funds have been placed in trust and are restricted to those purposes.

5. Capital Project revenues and expenditures for governmental and enterprise appropriations may be distributed between individual project accounts within

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Resolution No. 24-

Page 2 ends

the Capital Project Fund as recommended by the Public Works Director and approved by the Town Manager to properly manage and account for the project’s financial activity. Capital Project funds appropriated by the Town Council are continuously appropriated until the completion of the project.

6. The Town Manager and Finance Director are authorized to administer said adopted budget in accordance with the provisions of the Town’s Municipal Code, Town Council actions, and administrative policies and regulations.

7. Appropriations to departments as authorized by the Annual Budget are subject to receipt of adequate revenues or appropriated reserves. Such appropriations may be limited to available revenues. The Town Manager is authorized to transfer funds within the budget to ensure expenditures of the Town are properly accounted for and expenses properly funded.

8. The staffing allocations as provided for in the budget are authorized, with current and future vacant positions to be filled by direction of the Town Manager, including the under-filling of any position. The Town Manager is authorized to manage the staffing allocations within the approved budget.

9. The budget may be amended from time to time by action of the Town Council.

APPROVED AND ADOPTED THIS 19th day of June 2024.

______________________________
BILL SAUSER, Mayor
ATTEST:
________________________________
JAMIE GRAY, Town Clerk

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BUDGET 2024‐25

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
40,140,453 48,234,380 39,747,814 30,571,165 38,771,165 $ 32,852,365 41,693,208 42,658,399 37,453,112 29,924,420 40,821,104 $ 32,781,586 (1,552,755) 5,575,980 2,294,702 646,745 (2,049,939) $ 70,779

REVENUE
100‐000‐30202 Property Tax Secured 2,903,751 3,268,904 3,509,191 3,220,000 3,220,000 $ 3,325,000 100‐000‐30204 Property Tax Unsecured 186,705 210,909 223,060 225,000 225,000 $ 220,000 100‐000‐30210 Prior Secured & Escapes 24,003 26,879 28,473 20,000 20,000 $ 20,000100‐000‐30230 Documentary Transfer Tax 325,221 187,816 177,431 100,000 100,000 $ 125,000 100‐000‐30234 Current Supplemental Tax 110,799 112,559 90,912 50,000 50,000 $ 100,000 100‐000‐30250 Homeowners Exemption 77,916 97,685 90,301 50,000 50,000 $ 50,000 100‐000‐30260 Property Tax‐In Lieu VLF 1,016,079 1,119,465 607,505 950,000 950,000 $ 1,000,000 100‐000‐30270 ERAF Excess 91,883 ‐ 348,548 90,000 90,000 $ 110,000 100‐000‐30402 Sales Tax 3,358,773 3,766,418 2,866,980 3,000,000 3,000,000 $ 3,250,000 100‐000‐30604 TOT: Current Year 26,643,209 29,482,552 25,015,835 18,000,000 25,000,000 $ 18,500,000 100‐000‐30640 TOT: Certificates 11,569 9,162 6,705 7,000 7,000 $ 7,000 100‐000‐30642 Certified Property Fee ‐ ‐ ‐ 2,276 ‐ $ 1,350,000 100‐000‐30644 TOT: Penalties & Interest 167,888 273,253 152,559 100,000 100,000 $ 75,000 100‐000‐30660 TOT: Revenue Violations 201,286 199,485 50,885 100,000 100,000 $ 80,000 100‐000‐30661 TOT: Rev Viol Pen & Interest 89,777 93,764 25,723 50,000 50,000 $ 25,000 100‐000‐30670 TOT: Zoning Violations 2,259 ‐ 18,107 15,000 15,000 $ 10,000 100‐000‐30671 TOT: Zoning Viol Pen & Interes 11,638 ‐ 7,303 15,000 15,000 $ 10,000 100‐000‐30802 Business Tax 336,005 389,416 407,486 360,000 360,000 $ 380,000 100‐000‐30803 Cannabis Tax 158,723 127,765 102,186 130,000 130,000 $ 120,000 100‐000‐30810 Bus Tax Penalties & Interest 37,411 22,133 19,507 14,000 14,000 $ 8,000 100‐000‐30830 Business Lic Application Fee 20,476 16,138 17,968 12,000 12,000 $ 13,000 100‐000‐30835 Cannabis Business Registration 6,000 (7,387) 24,270 18,000 18,000 $ 18,000 100‐000‐30840 Business Lic Renewal Fee 24,233 33,939 40,440 28,000 28,000 $ 28,000 100‐000‐31204 Franchise Fee: Solid Waste 259,151 251,500 267,040 315,000 315,000 $ 315,000 100‐000‐31206 Franchise Fee: Electricity 262,258 325,729 374,354 230,000 230,000 $ 230,000 100‐000‐31208 Franchise Fee: Gas 157,456 181,410 184,008 125,000 125,000 $ 125,000 100‐000‐31210 Franchise Fee: Cable 239,177 230,578 171,410 230,000 230,000 $ 230,000 100‐000‐31410 Encroachment Permits 7,730 10,625 5,750 4,000 4,000 $ 4,000 100‐000‐31414 Grading Permits 16,425 6,575 8,650 10,000 10,000 $ 7,000 NET TOML REV ‐ EXP

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
100‐000‐31420 Building Permits 1,219,892 877,731 845,204 800,000 800,000 $ 850,000 100‐000‐31440 Animal Licenses 1,723 2,321 691 2,000 2,000 $ 2,000 100‐000‐31444 Animal Licenses Penalties ‐ ‐ ‐ 200 200 $ 200 100‐000‐31450 Concealed Weapon Permit 2,385 2,680 2,130 1,500 1,500 $ 1,500 100‐000‐31464 Taxicab Driver Permit 128 ‐ 64 300 300 $ 300 100‐000‐31470 Special Events Permit 6,479 8,140 5,220 6,000 6,000 $ 8,000 100‐000‐31602 Charges for Services 61,545 192,510 94,768 188,365 188,365 $ 188,365 100‐000‐31604 Sale of Documents (8,806) (9,046) (9,071) 500 500 $ 500 100‐000‐31606 Credit Card Service Fee 24,308 23,348 24,729 16,000 16,000 $ 16,000 100‐000‐31610 Facility Rental 191,333 230,817 205,656 200,000 200,000 $ 200,000 100‐000‐31615 P&R Facility Rental 19,341 14,627 ‐ 20,733 ‐ $ 17,000 100‐000‐31620 Plan Review‐New Bus & Home Occ 2,225 1,924 2,671 2,500 2,500 $ 2,500 100‐000‐31624 Planning & Zoning Applications 371,971 426,374 800,196 350,000 350,000 $ 350,000 100‐000‐31626 Master Plan Fees 36,944 49,469 32,809 25,000 25,000 $ 25,000 100‐000‐31630 Engineering Fees 34,010 27,606 8,795 20,000 20,000 $ 10,000 100‐000‐31640 Forest Service Contract 8,835 ‐ 9,000 9,000 9,000 $ 9,000 100‐000‐31652 Transit Fee 123,638 130,062 147,191 135,000 135,000 $ 150,000 100‐000‐31664 Recreation Program Fees 119,594 180,091 158,449 160,000 160,000 $ 170,000 100‐000‐31668 Amenities Enhancement Program ‐ ‐ ‐ ‐ ‐ $ 10,000 100‐000‐31670 Whitmore Master 27,916 337,727 20,484 20,000 20,000 $ 24,000 100‐000‐31672 Whitmore Pool Reimb 101,048 253,306 (126,653) 195,000 195,000 $ 175,000 100‐000‐31690 Archival Storage Fee 16,277 ‐ ‐ 10,000 10,000 $ 10,000 100‐000‐31692 Fingerprint Service 23,241 22,217 20,843 20,000 20,000 $ 15,000 100‐000‐32810 Superior Court Fines 14,422 19,950 12,377 8,000 8,000 $ 8,000 100‐000‐32820 Parking Citations 28,150 46,688 45,395 50,000 50,000 $ 30,000 100‐000‐32830 Vehicle Impound Fees 1,050 2,400 4,500 4,000 4,000 $ 4,000 100‐000‐32860 Civil Penalties:Municipal Code 168,492 80,426 20,800 50,000 50,000 $ 50,000 100‐000‐35220 COPS‐OPTION Public Safety 145,370 164,964 152,447 100,000 100,000 $ 100,000 100‐000‐35221 Officer Training Reimb 15,070 10,105 22,712 5,000 5,000 $ 8,000 100‐000‐35403 Vehicle License Fee in Excess 9,512 7,549 8,984 6,000 6,000 $ 8,000 100‐000‐36005 Tobacco Grant 27,374 ‐ ‐ 103,800 103,800 $ 30,000

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
100‐000‐37002 Interest on Investments 79,335 796,201 1,148,567 100,000 1,300,000 $ 100,000 100‐000‐37004 Interest from County 50,282 128,441 164,610 20,000 20,000 $ 20,000 100‐000‐37100 Refunds and Rebates 172,745 163,319 135,077 30,000 30,000 $ 100,000 100‐000‐39999 Interfund Transfers In 160,027 3,157,449 1,291,207 440,000 440,000 $ 425,000 TOTAL REVENUE 40,140,453 48,234,380 39,747,814 30,571,165 38,771,165 $ 32,852,365

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
DEPT 410 TOWN COUNCIL

EXPENSES
100‐410‐40000 Regular Salaries ‐ ‐ ‐ ‐ ‐ 100‐410‐40111 Temporary Wages 39,531 53,538 57,416 62,635 62,635 $ 62,635 100‐410‐41002 Health Ins Premiums 95,480 132,751 161,991 171,824 171,824 $ 186,006 100‐410‐41028 PARS (Part Time Retirement) 676 1,055 1,132 1,235 1,235 $ 1,235 100‐410‐43150 Training, Ed, Conf & Mtgs 1,370 7,242 4,165 20,000 20,000 $ 12,000 TOTAL EXPENSES 138,125 194,586 224,751 255,694 255,694 $ 261,876 DEPT 412 LEGAL SERVICES

EXPENSES
100‐412‐43031 Contractual Services 276,926 203,771 167,053 225,000 225,000 $ 225,000 TOTAL EXPENSES 277,591 212,397 167,053 225,000 225,000 $ 225,000 DEPT 413 TOWN MANAGER

EXPENSES
100‐413‐40000 Regular Salaries 306,520 349,541 411,375 361,696 361,696 $ 335,916 100‐413‐40130 Comprehensive Leave 224 ‐ 8,698 21,252 21,252 $ 24,604 100‐413‐41002 Health Ins Premiums 65,027 64,487 67,159 77,151 77,151 $ 83,936100‐413‐41012 Workers Comp Insurance 15,313 22,396 24,650 24,316 24,316 $ 19,556 100‐413‐41020 PERS (Retirement) 124,798 130,581 97,960 140,661 140,661 $ 102,576100‐413‐42006 Uniforms & Personal Equip ‐ ‐ ‐ ‐ ‐ $ 2,000 100‐413‐42030 Special Operational 10,667 11,621 12,243 15,000 15,000 $ 15,000 100‐413‐43031 Contractual Services 31,800 ‐ 5,440 26,000 241,000 $ 26,000 100‐413‐43130 Advertising & Legal Notices 14,266 16,941 9,046 7,500 7,500 $ 10,000 100‐413‐43150 Training, Ed, Conf & Mtgs 3,884 6,915 1,399 10,000 10,000 $ 10,000 100‐413‐44520 Emergency Preparedness ‐ ‐ ‐ 15,000 15,000 $ 15,000 TOTAL EXPENSES 573,130 619,708 629,272 698,575 913,575 $ 644,588

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
DEPT 414 TOWN CLERK

EXPENSES
100‐414‐40000 Regular Salaries 165,198 181,980 180,061 188,182 188,182 $ 186,645 100‐414‐40113 Overtime Wages $ 5,000
100‐414‐40130 Comprehensive Leave (2,432) ‐ 4,822 4,536 4,536 $ 3,424 100‐414‐41002 Health Ins Premiums 65,073 66,334 72,052 78,738 78,738 $ 85,134100‐414‐41012 Workers Comp Insurance 7,490 11,093 12,525 12,355 12,355 $ 10,375 100‐414‐41020 PERS (Retirement) 65,602 66,463 54,529 66,245 66,245 $ 63,405 100‐414‐42030 Special Operational 8,732 8,248 15,316 15,000 15,000 $ 15,000 100‐414‐43110 Mem'ships, Dues, Subscr, Publi 945 185 435 500 500 $ 500 100‐414‐43130 Advertising & Legal Notices 5,938 2,884 2,385 2,750 2,750 $ 2,750 100‐414‐43150 Training, Ed, Conf & Mtgs 3,042 1,800 2,825 5,500 5,500 $ 5,500 100‐414‐44600 Codification 15,580 11,990 14,631 5,000 5,000 $ 5,000 100‐414‐44620 Municipal Election 454 2,219 529 9,000 9,000 $ 9,000 TOTAL EXPENSES 335,621 358,019 355,287 387,806 387,806 $ 391,732 DEPT 415 FINANCEEXPENSES
100‐415‐40000 Regular Salaries 622,253 638,746 586,786 662,388 662,388 $ 714,887 100‐415‐40111 Temporary Wages 25,527 28,934 22,784 30,167 30,167 $ 58,380100‐415‐40113 Overtime Wages 408 8,479 11,050 5,000 5,000 $ 10,000 100‐415‐40130 Comprehensive Leave (17,890) ‐ 6,828 28,953 28,953 $ 16,945 100‐415‐41002 Health Ins Premiums 227,550 234,682 241,605 277,491 277,491 $ 345,907 100‐415‐41012 Workers Comp Insurance 26,583 40,590 44,924 44,314 44,314 $ 39,947 100‐415‐41020 PERS (Retirement) 203,974 208,855 148,902 211,350 211,350 $ 196,814 100‐415‐41028 PARS (Part Time Retirement) 435 576 438 595 595 $ 1,151 100‐415‐42006 Uniforms & Personal Equip 135 ‐ 389 1,500 $ 1,500 100‐415‐42030 Special Operational 172 ‐ 653 300 300 $ 300 100‐415‐43031 Contractual Services 74,992 104,300 120,246 90,000 90,000 $ 110,000 100‐415‐43100 Audit Services 68,630 62,750 81,260 65,000 65,000 $ 75,000

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
100‐415‐43110 Mem'ships, Dues, Subscr, Publi 212 225 225 300 300 $ 300 100‐415‐43130 Advertising & Legal Notices 1,843 2,170 2,245 2,500 2,500 $ 2,500 100‐415‐43150 Training, Ed, Conf & Mtgs 3,306 5,339 1,332 5,000 5,000 $ 5,000 100‐415‐43422 SB 1559 Tax Admin Fee 148,541 73,465 81,681 82,000 82,000 $ 82,000 TOTAL EXPENSES 1,386,671 1,418,079 1,343,476 1,506,857 1,505,357 $ 1,660,631 DEPT 416 GENERAL SERVICES

EXPENSES
100‐416‐42002 Office Supplies 19,384 13,989 21,913 28,000 28,000 $ 28,000100‐416‐42005 Postal Supplies & Postage 14,306 14,665 18,555 17,500 17,500 $ 20,000100‐416‐42030 Special Operational 5,186 6,642 4,890 10,000 10,000 $ 10,000 100‐416‐43031 Contractual Services 42,909 102,851 160,834 197,180 227,180 $ 207,180 100‐416‐43060 Garage Vehicle Service 32,315 35,737 36,838 35,000 35,000 $ 40,000 100‐416‐43066 Vehicle & Equip Replacement 43,202 30,308 31,481 31,481 31,481 $ 27,848100‐416‐43106 Insurance Premiums 676,834 596,504 935,196 736,795 736,795 $ 889,352 100‐416‐43114 Credit Card Fees 42,216 49,178 55,646 30,000 30,000 $ 50,000 100‐416‐43180 Contingency 90,000 ‐ ‐ 100,000 100,000 $ 100,000 100‐416‐43404 Public Utilities 41,818 54,663 34,099 70,000 70,000 $ 70,000 100‐416‐44220 Community Support Fund 124,285 51,827 56,504 71,000 71,000 $ 71,000 100‐416‐45010 Facility Lease 473,318 252,196 413,202 465,000 465,000 $ 465,000 100‐416‐46010 Equipment Lease 10,846 44,316 27,807 39,000 39,000 $ 35,000 TOTAL EXPENSES 1,616,879 1,253,026 1,796,965 1,830,956 1,860,956 $ 2,013,380

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
DEPT 417 HUMAN RESOURCESEXPENSES100‐417‐40000 Regular Salaries 133,320 181,615 166,778 188,335 188,335 $ 195,359 100‐417‐40130 Comprehensive Leave 4,185 ‐ 2,402 13,519 13,519 $ 10,978 100‐417‐41002 Health Ins Premiums 40,479 53,688 57,406 64,702 64,702 $ 69,707100‐417‐41012 Workers Comp Insurance 8,389 11,788 13,119 12,941 12,941 $ 11,263 100‐417‐41020 PERS (Retirement) 68,976 60,875 46,099 59,957 59,957 $ 53,842100‐417‐42030 Special Operational 7,825 50,845 3,327 10,000 10,000 $ 10,000 100‐417‐43110 Mem'ships, Dues, Subscr, Publi 1,144 ‐ 1,002 2,000 2,000 $ 2,000 100‐417‐43140 Recruiting & Other HR 22,189 16,638 21,087 20,000 20,000 $ 20,000 100‐417‐43150 Training, Ed, Conf & Mtgs 4,830 5,278 811 5,000 5,000 $ 5,000 TOTAL EXPENSES 291,336 383,127 333,059 376,453 376,453 $ 378,150

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
DEPT 418 INFORMATION SYSTEMS

EXPENSES
100‐418‐43031 Contractual Services 8,701 8,373 11,876 8,000 8,000 $ 8,000 100‐418‐43033 Computer Support Services 250,000 255,819 125,000 280,000 280,000 $ 280,000 100‐418‐43404 Public Utilities 36,774 34,808 34,617 30,000 30,000 $ 30,000 100‐418‐45050 Equipment Maint Agreements 168,279 70,691 101,086 153,600 153,600 $ 153,600 100‐418‐48800 Computer Hardware ‐ Capital 19,018 31,874 35,751 31,000 31,000 $ 31,000 100‐418‐48900 Computer Software ‐ Capital 31,561 136,724 65,394 23,000 23,000 $ 23,000 TOTAL EXPENSES 525,705 557,601 375,224 525,600 525,600 $ 525,600 DEPT 420 POLICE SERVICES

EXPENSES
100‐420‐40000 Regular Salaries 1,922,051 2,105,668 2,133,416 2,373,126 2,373,126 $ 2,404,320 100‐420‐40111 Temporary Wages 38 16,673 14,305 88,439 88,439 $ 92,960100‐420‐40113 Overtime Wages 161,725 202,814 221,608 150,000 200,000 $ 150,000 100‐420‐40115 Police Holiday Pay 87,136 97,705 74,276 91,273 91,273 $ 91,273 100‐420‐40130 Comprehensive Leave (4,582) ‐ (844) 78,139 78,139 $ 85,419100‐420‐41002 Health Ins Premiums 422,698 394,323 450,319 573,100 573,100 $ 569,870 100‐420‐41012 Workers Comp Insurance 98,754 140,108 165,246 163,002 163,002 $ 140,882 100‐420‐41016 Unemployment Assessment 317 ‐ ‐ 5,000 5,000 $ 5,000 100‐420‐41018 ICMA VantageCare 58,175 54,000 56,250 62,000 62,000 $ 62,000 100‐420‐41020 PERS (Retirement) 901,118 1,101,048 724,828 1,189,775 1,189,775 $ 1,382,239100‐420‐41024 PARS (Retirement Enhanced) 15,840 ‐ 1,440 15,000 15,000 $ 15,000 100‐420‐41028 PARS (Part Time Retirement) 1 154 47 2,451 2,451 $ 2,540 100‐420‐42002 Office Supplies 2,524 5,377 4,640 5,000 5,000 $ 5,000 100‐420‐42005 Postal Supplies & Postage 1,380 1,491 925 1,000 1,000 $ 1,500 100‐420‐42006 Uniforms & Personal Equip 18,163 19,177 25,406 20,000 20,000 $ 30,000 100‐420‐42007 Maintenance Supplies 1,717 2,623 1,525 5,000 5,000 $ 3,000 100‐420‐42030 Special Operational 22,413 10,473 22,215 20,000 20,000 $ 30,000 100‐420‐43031 Contractual Services 99,375 219,731 111,832 104,000 104,000 $ 104,000 100‐420‐43032 Dispatch Services 400,040 438,088 471,202 471,202 471,202 $ 509,000 100‐420‐43060 Garage Vehicle Service 115,614 58,208 47,593 90,000 90,000 $ 45,000 100‐420‐43066 Vehicle & Equip Replacement 58,879 57,525 44,783 44,783 44,783 $ 24,316

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
100‐420‐43110 Mem'ships, Dues, Subscr, Publi 5,284 6,024 2,367 4,000 4,000 $ 6,500 100‐420‐43120 Printing & Reproduction 2,827 3,130 1,244 7,500 7,500 $ 5,500 100‐420‐43130 Advertising & Legal Notices 410 459 33 2,000 2,000 $ 1,000 100‐420‐43150 Training, Ed, Conf & Mtgs 34,055 52,275 37,941 35,000 35,000 $ 55,000100‐420‐43156 DOJ Fingerprint Live 12,704 8,164 7,729 12,000 12,000 $ 10,000 100‐420‐43404 Public Utilities 54,492 53,330 44,598 56,000 56,000 $ 60,000 100‐420‐45060 Gen'l Facilities Maint 6,908 8,454 4,931 10,000 10,000 $ 10,000 100‐420‐45400 Communication Equip Maint ‐ ‐ 571 7,500 7,500 $ 1,000 100‐420‐46010 Equipment Lease 5,606 2,173 2,056 5,000 5,000 $ 2,500 100‐420‐46300 Communic Equip ‐ Non Cap 481 ‐ 906 5,000 5,000 $ 5,000 100‐420‐46440 Office Equip & Furniture 4,125 4,472 4,860 5,000 5,000 $ 5,000 100‐420‐46450 Firearms 9,208 14,749 8,244 15,000 15,000 $ 15,000 TOTAL EXPENSES 4,527,650 5,096,686 4,684,438 5,716,289 5,766,289 5,929,819 DEPT 432 RECREATION PROGRAMSEXPENSES
100‐432‐40000 Regular Salaries 321,354 360,070 374,197 382,655 382,655 $ 407,258 100‐432‐40111 Temporary Wages 60,763 85,970 87,540 169,403 169,403 $ 182,081100‐432‐40113 Overtime Wages 1,468 4,342 4,291 6,000 6,000 $ 3,000 100‐432‐40130 Comprehensive Leave 8,300 ‐ 8,111 27,348 27,348 $ 24,313 100‐432‐41002 Health Ins Premiums 96,373 81,925 107,831 111,136 111,136 $ 117,918 100‐432‐41012 Workers Comp Insurance 14,211 21,949 26,647 26,285 26,285 $ 23,532 100‐432‐41020 PERS (Retirement) 118,703 120,741 114,783 136,292 136,292 $ 127,678 100‐432‐41028 PARS (Part Time Retirement) 1,318 2,146 1,934 3,340 3,340 $ 3,590 100‐432‐42006 Uniforms & Personal Equip 1,582 856 880 2,500 2,500 $ 2,500 100‐432‐42008 Recreation Supplies 12,919 11,351 7,382 11,000 11,000 $ 12,000 100‐432‐42009 Amenities Enhancement Program ‐ 1,553 7,041 5,000 5,000 $ 8,500 100‐432‐42030 Special Operational 4,694 5,318 3,872 6,000 6,000 $ 6,500 100‐432‐43031 Contractual Services 23,964 32,151 18,771 30,000 30,000 $ 31,000 100‐432‐43110 Mem'ships, Dues, Subscr, Publi 1,642 1,255 1,298 1,800 1,800 $ 1,900 100‐432‐43120 Printing & Reproduction 815 2,102 933 3,000 3,000 $ 3,000 100‐432‐43130 Advertising & Legal Notices 5,983 3,874 3,203 5,000 5,000 $ 5,000 100‐432‐43150 Training, Ed, Conf & Mtgs 3,312 5,453 4,435 6,000 6,000 $ 6,000 100‐432‐43164 Excursions & Field Trips 2,307 1,231 2,022 4,000 4,000 $ 4,500 100‐432‐44300 Fishing Enhancement 54,019 104,656 107,460 105,000 105,000 $ 109,250

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
100‐432‐44310 Community Youth Programs 42,500 45,000 48,478 45,000 45,000 $ 47,000100‐432‐44320 Fireworks Display 34,059 18,419 36,086 38,000 38,000 $ 43,000 TOTAL EXPENSES 811,031 921,970 963,721 1,124,759 1,124,759 $ 1,169,519 DEPT 434 WHITMORE POOL & REC AREA

EXPENSES
100‐434‐40000 Regular Salaries 55,003 91,835 106,017 84,277 84,277 $ 79,884 100‐434‐40111 Temporary Wages 69,663 95,235 57,286 101,765 101,765 $ 90,157100‐434‐40113 Overtime Wages 2,036 3,015 4,284 1,000 1,000 $ 1,000 100‐434‐40130 Comprehensive Leave ‐ ‐ 2,761 5,385 5,385 $ 2,338 100‐434‐41002 Health Ins Premiums (80) 19,599 21,020 28,579 28,579 $ 38,337100‐434‐41012 Workers Comp Insurance 5,159 5,374 5,827 5,748 5,748 $ 4,488 100‐434‐41020 PERS (Retirement) 16,460 29,546 79,947 27,921 27,921 $ 21,455 100‐434‐41028 PARS (Part Time Retirement) 339 1,320 1,188 2,006 2,006 $ 1,777 100‐434‐42006 Uniforms & Personal Equip 1,480 2,114 696 2,500 2,500 $ 2,500 100‐434‐42007 Maintenance Supplies 1,895 8,747 1,157 5,000 5,000 $ 6,000 100‐434‐42008 Recreation Supplies 156 2,819 270 3,000 3,000 $ 3,000 100‐434‐42009 Pool Supplies 8,333 9,870 7,468 8,000 8,000 $ 9,000 100‐434‐42030 Special Operational 684 863 606 1,250 1,250 $ 1,000 100‐434‐43031 Contractual Services 53,913 5,404 8,295 8,000 8,000 $ 8,500 100‐434‐43060 Garage Vehicle Service 26,631 8,545 12,389 22,000 22,000 $ 16,000 100‐434‐43066 Vehicle & Equip Replacement 17,936 24,917 24,861 24,861 24,861 $ 19,858 100‐434‐43120 Printing & Reproduction 129 ‐ 84 500 500 $ 500 100‐434‐43130 Advertising & Legal Notices 1,044 ‐ 409 1,000 1,000 $ 1,000 100‐434‐43150 Training, Ed, Conf & Mtgs 1,857 1,026 2,385 4,000 4,000 $ 4,000 100‐434‐43404 Public Utilities 53,193 48,884 17,896 45,000 45,000 $ 50,000 100‐434‐43420 Taxes & Fees 2,366 59 5,986 2,000 2,000 $ 2,000 100‐434‐45010 Facility Lease 705 2,700 2,783 750 750 $ 750 100‐434‐45080 Park Grounds & Bldgs Maint 11,973 12,605 5,776 18,000 18,000 $ 19,000 TOTAL EXPENSES 331,217 388,517 367,179 402,542 402,542 $ 382,544

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
DEPT 436 Arts & CultureEXPENSES100‐436‐40111 Temporary Wages ‐ 2,318 592 54,780 54,780 $ 45,437 100‐436‐40113 Overtime Wages ‐ ‐ ‐ 1,000 1,000 $ 1,000 100‐436‐41028 PARS (Part Time Retirement) ‐ ‐ 25 1,080 1,080 $ 896 100‐436‐42007 Maintenance Supplies ‐ ‐ ‐ 2,500 2,500 $ 5,000 100‐436‐43031 Contractual Services ‐ 5,967 1,940 10,000 10,000 $ 5,000 100‐436‐43110 Mem'ships, Dues, Subscr, Publi ‐ ‐ (324) ‐ ‐ $ 3,000 100‐436‐43150 Training, Ed, Conf & Mtgs ‐ ‐ ‐ 195 ‐ $ 2,000 100‐436‐46200 Machinery & Equip ‐ Non Cap ‐ ‐ ‐ ‐ ‐ $ 40,000 TOTAL EXPENSES ‐ 55,608 22,542 98,160 98,160 102,332
DEPT 438 PARKS, BLDGS & TRAIL MAINT

EXPENSES
100‐438‐40000 Regular Salaries 235,837 246,305 261,532 254,028 254,028 $ 302,272 100‐438‐40111 Temporary Wages 35,441 21,566 11,308 65,983 65,983 $ 20,462100‐438‐40113 Overtime Wages 18,485 29,147 48,042 10,000 40,000 $ 10,000 100‐438‐40130 Comprehensive Leave 1,768 ‐ 7,947 17,950 17,950 $ 9,211 100‐438‐41002 Health Ins Premiums 67,166 80,349 78,095 78,790 78,790 $ 120,706 100‐438‐41012 Workers Comp Insurance 12,761 15,623 17,677 17,436 17,436 $ 17,002 100‐438‐41016 Unemployment Assessment 251 ‐ ‐ 5,000 5,000 $ 5,000 100‐438‐41020 PERS (Retirement) 83,850 88,614 89,231 92,309 92,309 $ 90,890100‐438‐42003 Misc Supplies 1,246 ‐ 11,519 10,000 10,000 $ 5,000 100‐438‐42006 Uniforms & Personal Equip 4,192 3,768 3,720 6,500 6,500 $ 6,500 100‐438‐42007 Maintenance Supplies 13,901 9,702 8,226 20,000 20,000 $ 21,000 100‐438‐43031 Contractual Services 7,252 1,680 7,392 15,000 15,000 $ 15,000 100‐438‐43060 Garage Vehicle Service 79,894 25,636 37,166 58,000 58,000 $ 36,000 100‐438‐43066 Vehicle & Equip Replacement 53,060 73,714 73,546 73,546 73,546 $ 58,746 100‐438‐43150 Training, Ed, Conf & Mtgs 690 ‐ 2,335 3,000 3,000 $ 3,000 100‐438‐43404 Public Utilities 75,145 62,656 79,326 80,000 80,000 $ 85,000 100‐438‐45080 Park Grounds & Bldgs Maint 18,707 15,578 9,765 18,000 18,000 $ 19,000 100‐438‐45081 Signage Maintenance 14,218 $ 3,000
TOTAL EXPENSES 716,727 726,606 736,891 826,844 871,062 $ 827,790

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
DEPT 440 PLANNING DIVISIONEXPENSES100‐440‐40000 Regular Salaries 472,181 502,624 438,080 480,116 480,116 $ 473,689 100‐440‐40130 Comprehensive Leave (15,063) ‐ (11,660) 26,324 26,324 $ 18,207100‐440‐41002 Health Ins Premiums 148,779 122,567 109,591 147,905 147,905 $ 161,833 100‐440‐41012 Workers Comp Insurance 25,524 30,114 32,915 32,468 32,468 $ 26,850 100‐440‐41020 PERS (Retirement) 161,821 160,298 124,143 165,380 165,380 $ 140,768 100‐440‐42006 Uniforms & Personal Equip 620 ‐ ‐ 1,000 1,000 $ 1,000 100‐440‐43031 Contractual Services 378,862 480,565 575,753 350,000 400,000 $ 350,000 100‐440‐43110 Mem'ships, Dues, Subscr, Publi 2,668 1,386 961 3,000 3,000 $ 3,000 100‐440‐43130 Advertising & Legal Notices 5,050 2,631 2,300 3,000 3,000 $ 3,000 100‐440‐43150 Training, Ed, Conf & Mtgs 11,438 15,419 3,595 12,000 12,000 $ 12,000 100‐440‐44500 Air Quality Management 25,000 25,000 61,000 25,500 25,500 $ 75,500 TOTAL EXPENSES 1,240,216 1,335,462 1,363,762 1,276,951 1,326,951 $ 1,265,847 DEPT 442 BUILDING DIVISION

EXPENSES
100‐442‐40000 Regular Salaries 284,746 341,346 346,210 340,155 340,155 $ 365,608 100‐442‐40113 Overtime Wages ‐ 29 51 500 500 $ 500
100‐442‐40130 Comprehensive Leave 5,311 ‐ 2,708 16,608 16,608 $ 14,361 100‐442‐41002 Health Ins Premiums 73,599 129,102 137,424 151,099 151,099 $ 175,873 100‐442‐41012 Workers Comp Insurance 27,765 21,057 23,233 22,917 22,917 $ 20,834 100‐442‐41020 PERS (Retirement) 104,730 112,068 130,567 122,337 122,337 $ 109,708 100‐442‐42003 Misc Supplies ‐ 862 478 2,000 2,000 $ 2,000 100‐442‐42006 Uniforms & Personal Equip 494 502 125 500 500 $ 700 100‐442‐43031 Contractual Services 197,770 180,731 222,755 200,000 170,000 $ 275,000 100‐442‐43110 Mem'ships, Dues, Subscr, Publi 1,465 10,223 1,028 2,000 2,000 $ 2,000 100‐442‐43130 Advertising & Legal Notices 972 1,663 1,596 3,000 3,000 $ 3,000 100‐442‐43150 Training, Ed, Conf & Mtgs 6,449 9,515 6,530 8,000 8,000 $ 8,000 TOTAL EXPENSES 703,303 809,806 869,999 869,116 839,116 $ 977,584

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
DEPT 444 CODE COMPLIANCE

EXPENSES
100‐444‐40000 Regular Salaries 62,026 66,604 52,701 72,924 72,924 $ 70,530 100‐444‐41002 Health Ins Premiums 28,869 29,378 34,888 34,984 34,984 $ 47,369100‐444‐41012 Workers Comp Insurance 2,698 4,251 4,832 4,767 4,767 $ 3,850 100‐444‐41020 PERS (Retirement) 21,074 21,867 13,751 22,085 22,085 $ 18,404100‐444‐42006 Uniforms & Personal Equip 146 224 45 300 300 $ 200 100‐444‐43130 Advertising & Legal Notices ‐ ‐ 105 600 600 $ 600100‐444‐43110 Mem'ships, Dues, Subscr, Publi 95 ‐ 100 100 100 $ 100 100‐444‐43150 Training, Ed, Conf & Mtgs ‐ ‐ ‐ 3,100 3,100 $ 2,000 TOTAL EXPENSES 114,605 121,946 106,227 140,289 140,289 $ 143,053 DEPT 445 HOUSING PROGRAMS & PLANNING

EXPENSES
100‐445‐40000 Regular Salaries 131,082 113,456 82,609 126,836 126,836 $ 116,810 100‐445‐40130 Comprehensive Leave ‐ ‐ 55 4,981 4,981 $ 908 100‐445‐41002 Health Ins Premiums 52,730 40,246 33,610 44,998 44,998 $ 53,830100‐445‐41012 Workers Comp Insurance 20,843 7,088 8,567 8,451 8,451 $ 6,426 100‐445‐41020 PERS (Retirement) 42,457 41,941 79,575 47,435 47,435 $ 31,235100‐445‐43031 Contractual Services 381,000 355,000 376,525 357,500 367,500 $ 357,500 100‐445‐43130 Advertising & Legal Notices 1,096 336 1,090 1,000 1,000 $ 1,000 100‐445‐49999 Transfers Out ‐ Housing 1,230,000 1,261,432 810,694 585,694 810,694 $ 642,096 TOTAL EXPENSES 1,859,209 1,819,554 1,392,669 1,176,895 1,411,895 $ 1,209,805 DEPT 460 ENG, PUBLIC WORKS & ADMIN

EXPENSES
100‐460‐40000 Regular Salaries 255,460 491,168 556,070 539,440 539,440 $ 560,589 100‐460‐40111 Temporary Wages 13,257 6,301 18,747 11,000 11,000 $ 11,000 100‐460‐40113 Overtime Wages 2,148 3,442 2,408 5,000 5,000 $ 5,000 100‐460‐40130 Comprehensive Leave 7,534 ‐ (7,724) 32,818 32,818 $ 12,519100‐460‐41002 Health Ins Premiums 74,423 138,272 161,471 147,935 147,935 $ 157,507 100‐460‐41012 Workers Comp Insurance 20,977 32,654 37,193 36,687 36,687 $ 31,283 100‐460‐41020 PERS (Retirement) 123,095 177,804 165,555 182,468 182,468 $ 161,936

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
100‐460‐41028 PARS (Part Time Retirement) 462 129 374 220 220 $ 220 100‐460‐42005 Postal Supplies & Postage 24 ‐ 26 200 200 $ 200100‐460‐42006 Uniforms & Personal Equip 1,026 4,124 1,866 3,500 3,500 $ 3,500 100‐460‐42007 Maintenance Supplies 112 898 18 600 600 $ 600 100‐460‐43031 Contractual Services 39,440 42,148 13,866 50,000 50,000 $ 50,000 100‐460‐43150 Training, Ed, Conf & Mtgs 2,058 3,947 815 2,000 2,000 $ 2,000 TOTAL EXPENSES 540,015 893,163 958,411 1,011,869 1,011,869 $ 996,354 DEPT 464 FACILITIES MAINTENANCE

EXPENSES
100‐464‐40000 Regular Salaries 48,616 30,423 47,839 38,941 38,941 $ 82,541 100‐464‐40111 Temporary Wages 12,581 1,378 15,050 15,674 15,674 $ 53,193 100‐464‐40130 Comprehensive Leave (183) ‐ 837 2,950 2,950 $ 3,293 100‐464‐41002 Health Ins Premiums 11,911 17,783 16,374 15,261 15,261 $ 27,172100‐464‐41012 Workers Comp Insurance 2,618 3,166 2,723 2,686 2,686 $ 4,685 100‐464‐41020 PERS (Retirement) 15,496 14,145 10,633 12,443 12,443 $ 22,398 100‐464‐41028 PARS (Part Time Retirement) 254 29 295 305 305 $ 1,049 100‐464‐42007 Maintenance Supplies 904 5,098 4,930 6,000 6,000 $ 10,000 100‐464‐43031 Contractual Services 11,881 18,831 33,176 42,000 52,000 $ 42,000 100‐464‐43404 Public Utilities 16,719 45,210 72,892 25,000 25,000 $ 55,000 100‐464‐43420 Taxes & Fees 2,104 16,135 15,872 8,000 8,000 $ 12,000 TOTAL EXPENSES 123,505 156,762 226,720 170,759 180,759 $ 313,331 DEPT 467 OFFICE OF OUTDOOR RECREATION

EXPENSES
100‐467‐40000 Regular Salaries 122,443 243,657 236,685 243,499 243,499 $ 253,826 100‐467‐40111 Temporary Wages 3,532 26,282 46,776 100,000 100,000 $ 141,326100‐467‐40130 Comprehensive Leave 305 ‐ 6,082 12,687 12,687 $ 7,624 100‐467‐41002 Health Ins Premiums 39,086 49,746 53,904 77,062 77,062 $ 72,463100‐467‐41012 Workers Comp Insurance 10,055 17,363 16,650 16,424 16,424 $ 14,271 100‐467‐41020 PERS (Retirement) 72,701 87,877 55,871 81,708 81,708 $ 68,223 100‐467‐41028 PARS (Part Time Retirement) 62 452 914 2,000 2,000 $ 2,827 100‐467‐42006 Uniforms & Personal Equip 338 592 1,112 1,500 1,500 $ 1,500 100‐467‐42007 Maintenance Supplies ‐ 270 308 5,000 5,000 $ 5,000

Page 349 of 455 ends

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23

YEAR TO DATE
23‐24

APPROVED
BUDGET 23‐24

MODIFIED BUDGET
23‐24

ADOPTED BUDGET
24‐25
100‐467‐43031 Contractual Services ‐ 58,420 4,571 50,000 50,000 $ 50,000 100‐467‐43110 Mem'ships, Dues, Subscr, Publi ‐ 680 242 1,500 1,500 $ 1,500 100‐467‐43150 Training, Ed, Conf & Mtgs ‐ 1,709 1,345 5,000 5,000 $ 5,000 100‐467‐43404 Public Utilities 1,878 1,887 ‐ 1,253 ‐ $ 2,000 100‐467‐45081 Signage Maintenance ‐ 23,362 1,159 25,000 25,000 $ 25,000 TOTAL EXPENSES 250,400 518,450 421,146 621,380 621,380 $ 650,559 DEPT 475 TRANSIT SERVICE

EXPENSES
100‐475‐40111 Temporary Wages 294 ‐ ‐ 20,000 20,000 $ 30,000100‐475‐42007 Maintenance Supplies 342 ‐ 186 500 500 $ 500 100‐475‐43031 Contractual Services 727,779 744,224 876,701 1,041,520 1,041,520 $ 1,093,550 100‐475‐43404 Public Utilities 6,745 16,818 1,110 15,000 15,000 $ 15,000 100‐475‐45100 Bus Shelter Maintenance ‐ ‐ ‐ ‐ ‐ $ 3,000 100‐475‐45224 Street Sign Replacement 2,790 ‐ ‐ 3,000 3,000 $ 3,000 100‐475‐49999 Transfers Out ‐ Transit 1,230,000 ‐ 400,000 231,880 231,880 $ 214,550 TOTAL EXPENSES 2,017,091 1,184,605 877,810 1,311,900 1,311,900 $ 1,359,600 DEPT 480 TOURISM & BUS DEV'TEXPENSES
100‐480‐43031 Contractual Services 71,803 132,106 51,916 200,000 465,000 $ 200,000 100‐480‐44220 Community Support Fund ‐ ‐ ‐ 300,000 ‐ ‐ $ 100‐480‐44810 Promotion & Tourism 2,959,500 2,525,000 2,025,000 2,025,000 2,025,000 $ 2,025,000 100‐480‐49999 Transfers Out ‐ Tourism 2,770,000 2,565,400 1,645,800 1,028,800 1,645,800 $ 1,119,200 TOTAL EXPENSES 5,801,303 5,222,506 4,022,716 3,253,800 4,135,800 3,344,200 DEPT 599 INTERFUND TRANSFERS

EXPENSES
100‐599‐49999 Transfers Out 17,762,279 18,928,668 15,634,937 6,737,307 16,149,273 $ 8,008,292 TOTAL EXPENSES 17,762,279 18,928,668 15,634,937 6,737,307 16,149,273 $ 8,008,292

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BUDGET 2024‐25 Fund 101 ‐ Comprehensive Leave

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
21,659 ‐ 45,167 379,024 379,024 $ 379,024 ‐ ‐ ‐ ‐ ‐ ‐ $ 21,659 ‐ 45,167 379,024 379,024 $ 379,024

REVENUE
101‐000‐32260 Comprehensive Leave Charge 21,659 ‐ 45,167 379,024 379,024 $ 379,024 TOTAL REVENUE 21,659 ‐ 45,167 379,024 379,024 $ 379,024 NET TOML REV ‐ EXP

TOML BUDGET WORHSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES

Page 351 of 455 ends

BUDGET 2024‐25 Fund 205 ‐ Solid Waste

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
206,531 253,282 262,298 150,000 150,000 $ 415,000
377,645 143,143 187,338 103,463 103,463 $ 216,540
(171,114) 110,140 74,960 46,537 46,537 $ 198,460

REVENUE
205‐000‐31205 AB 939 FEE 125,413 199,904 88,176 150,000 150,000 $ 150,000 205‐000‐31206 Solid Waste Parcel Fee‐County ‐ ‐ ‐ ‐ ‐ $ 250,000 205‐000‐31610 Facility Rental 7,200 9,831 ‐ 10,800 ‐ $ 15,000 TOTAL REVENUE 206,531 253,282 262,298 150,000 150,000 $ 415,000 DEPT 490 Solid Waste

EXPENSES
205‐490‐40000 Regular Salaries 5,426 6,001 6,124 6,438 6,438 $ 6,197 205‐490‐40130 Comprehensive Leave ‐ ‐ ‐ 254 254 $ 388 205‐490‐41002 Health Ins Premiums ‐ 1,848 2,009 2,188 2,188 $ 2,398 205‐490‐41012 Workers Comp Insurance ‐ 407 435 429 429 $ 359 205‐490‐41020 PERS (Retirement) 6,179 2,348 18,615 2,482 2,482 $ 2,197 205‐490‐42030 Special Operational 2,683 5,576 26,165 10,000 10,000 $ 35,000 205‐490‐43030 Professional Services ‐ ‐ 1,060 10,000 10,000 $ 10,000 205‐490‐43031 Contractual Services 114,714 78,251 48,673 21,672 21,672 $ 60,000 205‐490‐43404 Public Utilities 52,972 47,652 85,317 50,000 50,000 $ 100,000 TOTAL EXPENSES 377,645 143,143 187,338 103,463 103,463 $ 216,540

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES
NET TOML REV ‐ EXP

Page 352 of 455 ends

BUDGET 2024‐25 Fund 210 ‐ Gas Tax

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
5,252,479 5,635,640 4,835,189 5,513,553 5,513,553 $ 5,264,752 5,639,866 5,609,211 5,295,762 5,617,161 5,617,161 $ 5,264,752 (387,386) 26,429 (460,573) (103,608) ‐ (103,608) $

REVENUE
210‐000‐31490 Snow Management Permit ‐ ‐ ‐ ‐ 210‐000‐31602 Charges for Services 98,049 154,437 53,625 10,000 10,000 $ 10,000 210‐000‐35404 State Gas Tax 2103 64,632 60,026 54,589 72,997 72,997 $ 72,997 210‐000‐35406 State Gas Tax 2105 45,264 41,925 36,280 47,327 47,327 $ 47,327 210‐000‐35408 State Gas Tax 2106 57,961 59,183 51,506 58,018 58,018 $ 58,018 210‐000‐35410 State Gas Tax 2107 54,042 57,136 45,136 50,000 50,000 $ 50,000 210‐000‐35412 State Gas Tax 2107 Snow 1,531,985 1,495,924 1,724,600 2,400,000 2,400,000 $ 1,550,000 210‐000‐35414 State Gas Tax 2107.5 2,000 2,000 2,000 2,000 2,000 $ 2,000 210‐000‐35416 State Gas Tax RMRA (SB‐1) 161,785 162,561 152,036 187,691 187,691 $ 187,691 210‐000‐37100 Refunds and Rebates 39,063 13,621 57 13,000 13,000 $ 13,000 210‐000‐39999 Interfund Transfers In 3,040,926 3,506,199 2,612,520 2,672,520 2,672,520 $ 3,273,719 TOTAL REVENUE 5,252,479 5,635,640 4,835,189 5,513,553 5,513,553 $ 5,264,752DEPT 450 STREET MAINTENANCEEXPENSES210‐450‐40000 Regular Salaries 287,981 333,001 347,098 406,754 406,754 $ 391,546 210‐450‐40130 Comprehensive Leave (3,211) ‐ 4,250 16,623 16,623 $ 14,149 210‐450‐41002 Health Ins Premiums 100,007 86,831 102,492 168,480 168,480 $ 173,097 210‐450‐41012 Workers Comp Insurance 29,039 23,923 27,516 27,143 27,143 $ 22,145210‐450‐41020 PERS (Retirement) 121,270 121,646 201,594 133,950 133,950 $ 117,127210‐450‐42002 Office Supplies ‐ ‐ 21 200 200 $ 200 210‐450‐42006 Uniforms & Personal Equip 1,677 4,638 4,515 3,500 3,500 $ 3,500 210‐450‐42022 Street Maintenance Supplies 1,962 3,778 709 10,000 10,000 $ 10,000 210‐450‐42025 Traffic Safety Supplies 40,138 29,108 28,189 35,000 35,000 $ 35,000 210‐450‐43031 Contractual Services 831,870 287,276 433,334 475,000 475,000 $ 475,000210‐450‐43150 Training, Ed, Conf & Mtgs ‐ 112 315 2,000 2,000 $ 2,000 210‐450‐43404 Public Utilities 19,441 34,672 17,424 15,000 15,000 $ 15,000 210‐450‐43420 Taxes & Fees 9,034 ‐ 4,973 12,000 12,000 $ 12,000210‐450‐45200 Traffic Signal Maintenance 452 ‐ 7,684 6,000 6,000 $ 6,000 NET TOML REV ‐ EXP

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES

Page 353 of 455 ends

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
210‐450‐45220 Street Lights 5,045 (1,053) 936 3,000 3,000 $ 3,000 210‐450‐45224 Street Sign Replacement 35,058 27,755 33,082 55,000 55,000 $ 55,000210‐450‐45228 Road, Curbs, Gutter Rehab 68,208 44,363 12,191 580,000 580,000 $ 580,000 210‐450‐46200 Machinery & Equip ‐ Non Cap 2,307 ‐ 9,304 4,500 4,500 $ 6,500 TOTAL EXPENSES 1,568,098 1,044,081 1,254,082 1,954,151 1,954,151 $ 1,921,263 DEPT 452 SNOW REMOVALEXPENSES
210‐452‐40000 Regular Salaries 440,196 551,784 490,199 530,801 530,801 $ 663,868 210‐452‐40111 Temporary Wages 26,207 35,567 75,740 83,456 83,456 $ 30,649 210‐452‐40113 Overtime Wages 86,678 287,703 197,608 125,000 125,000 $ 125,000 210‐452‐40130 Comprehensive Leave (2,993) ‐ 5,148 22,810 22,810 $ 22,750 210‐452‐41002 Health Ins Premiums 147,421 176,052 201,294 212,936 212,936 $ 296,214 210‐452‐41012 Workers Comp Insurance 32,233 31,297 35,981 35,492 35,492 $ 37,479 210‐452‐41020 PERS (Retirement) 164,539 169,013 292,718 175,239 175,239 $ 197,178 210‐452‐41028 PARS (Part Time Retirement) 492 582 379 1,645 1,645 $ 604 210‐452‐42006 Uniforms & Personal Equip 6,215 8,545 5,521 10,000 10,000 $ 13,000 210‐452‐42022 Street Maintenance Supplies 6,828 850 1,031 10,000 10,000 $ 10,000 210‐452‐42025 Traffic Safety Supplies 51,168 95,919 108,089 135,000 135,000 $ 155,000 210‐452‐42030 Special Operational 9,123 27,800 22,368 3,000 3,000 $ 15,000 210‐452‐43031 Contractual Services 116,355 769,723 363,963 200,000 200,000 $ 200,000210‐452‐43150 Training, Ed, Conf & Mtgs ‐ ‐ 886 2,000 2,000 $ 2,000 210‐452‐43404 Public Utilities 57,995 81,740 64,769 45,000 45,000 $ 45,000 210‐452‐45200 Traffic Signal Maintenance ‐ ‐ 241 5,000 5,000 $ 5,000 210‐452‐45220 Street Lights 1,270 ‐ 4,190 2,500 2,500 $ 4,500 210‐452‐46200 Machinery & Equip ‐ Non Cap 1,939 2,339 1,759 3,000 3,000 $ 3,000 TOTAL EXPENSES 1,145,689 2,246,726 1,866,200 1,602,878 1,602,878 $ 1,826,242 DEPT 454 SUMMER EQUIP GARAGE

EXPENSES
210‐454‐42002 Office Supplies 402 678 57 700 700 $ 700
210‐454‐42006 Uniforms & Personal Equip 3,874 3,408 2,205 3,000 3,000 $ 3,000 210‐454‐42016 Gasoline & Diesel 101,279 248,145 124,687 60,000 60,000 $ 65,000 210‐454‐42017 Vehicle Maintenance Parts 41,518 108,241 144,778 40,000 40,000 $ 40,000 210‐454‐43031 Contractual Services 3,637 2,529 2,277 4,000 4,000 $ 15,000 210‐454‐43060 Garage Vehicle Service 88,426 99,304 202,198 80,000 80,000 $ 120,000

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
210‐454‐43066 Vehicle & Equip Replacement 177,496 179,737 177,830 177,830 177,830 $ 65,133 210‐454‐43110 Mem'ships, Dues, Subscr, Publi 2,416 5,272 4,513 6,000 6,000 $ 7,000 210‐454‐46200 Machinery & Equip ‐ Non Cap 1,649 3,727 2,778 4,000 4,000 $ 11,000 TOTAL EXPENSES 420,295 650,476 661,323 374,830 374,830 $ 326,833 DEPT 455 WINTER EQUIP GARAGE

EXPENSES
210‐455‐42006 Uniforms & Personal Equip 5,862 4,211 5,543 5,500 5,500 $ 6,000 210‐455‐42016 Gasoline & Diesel 71,067 224,839 91,452 90,000 90,000 $ 90,000 210‐455‐42017 Vehicle Maintenance Parts 139,042 475,906 423,781 210,000 210,000 $ 250,000210‐455‐42030 Special Operational 59 75 286 100 100 $ 250 210‐455‐43031 Contractual Services 5,602 4,513 5,583 5,000 5,000 $ 5,000 210‐455‐43060 Garage Vehicle Service 202,995 15,336 286,199 160,000 160,000 $ 160,000210‐455‐43066 Vehicle & Equip Replacement 560,524 590,627 560,566 560,566 560,566 $ 163,070 210‐455‐43110 Mem'ships, Dues, Subscr, Publi 6,891 2,425 3,537 8,500 8,500 $ 8,500 210‐455‐43150 Training, Ed, Conf & Mtgs ‐ ‐ 120 1,000 1,000 $ 2,500 210‐455‐46200 Machinery & Equip ‐ Non Cap 3,184 3,949 14,024 4,000 4,000 $ 4,000 TOTAL EXPENSES 995,224 1,321,880 1,391,090 1,044,666 1,044,666 $ 689,320 DEPT 456 GARAGE OPERATIONSEXPENSES
210‐456‐40000 Regular Salaries 17,762 4,267 1,869 5,192 5,192 $ 5,816 210‐456‐40130 Comprehensive Leave ‐ ‐ 112 393 393 $ 439 210‐456‐41002 Health Ins Premiums 5,008 1,387 628 2,035 2,035 $ 2,174 210‐456‐41012 Workers Comp Insurance 2,618 422 363 358 358 $ 341 210‐456‐41020 PERS (Retirement) 1,633 1,918 7,447 1,659 1,659 $ 1,632 210‐456‐42007 Maintenance Supplies 5,504 4,538 3,879 5,000 5,000 $ 5,000 210‐456‐43031 Contractual Services 34,726 28,055 16,449 32,000 32,000 $ 32,000 210‐456‐43404 Public Utilities 104,821 109,186 92,391 75,000 75,000 $ 75,000 210‐456‐45060 Gen'l Facilities Maint ‐ ‐ ‐ 1,000 1,000 $ 1,000 TOTAL EXPENSES 174,984 150,225 123,066 122,637 122,637 $ 123,403 DEPT 457 PROMENADE MAINTENANCE

EXPENSES
210‐457‐43031 Contractual Services 48,137 ‐ 33,727 48,000 48,000 $ 48,000

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
210‐457‐43404 Public Utilities ‐ ‐ ‐ 2,000 2,000 $ 2,000 TOTAL EXPENSES 48,323 ‐ 33,727 51,000 51,000 $ 50,000 DEPT 599 INTERFUND TRANSFERS

EXPENSES
210‐599‐49999 Transfers Out 1,287,251 ‐ 162,096 466,999 466,999 $ 327,691 TOTAL EXPENSES 1,287,251 ‐ 162,096 466,999 466,999 $ 327,691

Page 356 of 455 ends

BUDGET 2024‐25 Fund 215 ‐ Measure R Trails

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
515,000 319,089 584,125 550,000 550,000 $ 300,000
499,598 254,743 206,437 300,000 300,000 $ 349,860
15,402 64,346 377,688 250,000 250,000 $ (49,860)

REVENUE
215‐000‐39999 Interfund Transfers In 420,000 305,038 550,000 550,000 550,000 $ 300,000 TOTAL REVENUE 515,000 319,089 584,125 550,000 550,000 $ 300,000 DEPT 511 MEASURE R TRAILS

EXPENSES
215‐511‐40000 Regular Salaries 1,437 ‐ 16,887 22,308 22,308 $ 22,034 215‐511‐40111 Temporary Wages 55,197 46,087 57,116 59,649 59,649 $ 228,823 215‐511‐40130 Comprehensive Leave 817 ‐ (560) 677 677 $ 1,225 215‐511‐41002 Health Ins Premiums 1,309 ‐ ‐ 6,918 6,918 $ 7,391 215‐511‐41012 Workers Comp Insurance ‐ 1,213 1,494 1,474 1,474 $ 1,270 215‐511‐41020 PERS (Retirement) 826 4,558 8,899 6,827 6,827 $ 6,069 215‐511‐41028 PARS (Part Time Retirement) 791 948 1,243 1,176 1,176 $ 2,288 215‐511‐42007 Maintenance Supplies 14,845 5,603 5,501 7,000 7,000 $ 7,000 215‐511‐42026 Trail Facility Supplies 9,129 7,504 9,560 6,000 6,000 $ 6,000 215‐511‐43031 Contractual Services 254,162 161,715 116,326 184,372 184,372 $ 64,161 215‐511‐43150 Training, Ed, Conf & Mtgs ‐ 54 1,331 2,000 2,000 $ 2,000 215‐511‐43404 Public Utilities 92 ‐ 2,782 1,000 1,000 $ 1,000 215‐511‐48900 Computer Software ‐ Capital ‐ ‐ 24 600 600 $ 600 TOTAL EXPENSES 349,598 254,743 206,437 300,000 300,000 $ 349,860 NET TOML REV ‐ EXP

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES

Page 357 of 455 ends

BUDGET 2024‐25 Fund 216 ‐ Measure R

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐24

ADOPTED BUDGET
24‐25
1,928,096 2,281,553 2,115,259 1,500,000 1,550,000 $ 2,000,0001,111,795 1,669,196 2,069,927 1,879,632 1,879,632 $ 1,425,994 816,300 612,357 45,331 (379,632) (329,632) $ 574,006

REVENUE
216‐000‐30406 Sales Tax: Measure R 1,905,558 2,154,985 1,729,950 1,500,000 1,500,000 $ 2,000,000 TOTAL REVENUE 1,928,096 2,281,553 2,115,259 1,500,000 1,550,000 $ 2,000,000 DEPT 432 RECREATION PROGRAMS

EXPENSES
216‐432‐42008 Recreation Supplies 1,516 2,337 2,804 4,000 4,000 $ 4,000 TOTAL EXPENSES 1,516 2,420 2,804 4,000 4,000 $ 4,000
DEPT 510 MEASURE R

EXPENSES
216‐510‐43031 Contractual Services 100,500 108,325 310,919 120,900 120,900 $ 119,500 216‐510‐43100 Audit Services 4,500 4,250 4,500 4,250 4,250 $ 4,500 TOTAL EXPENSES 105,000 112,575 315,419 125,150 125,150 $ 124,000 DEPT 599 INTERFUND TRANSFERS

EXPENSES
216‐599‐49999 Transfers Out 987,733 1,552,747 1,750,482 1,750,482 1,750,482 $ 1,297,994 TOTAL EXPENSES 987,733 1,552,747 1,750,482 1,750,482 1,750,482 $ 1,297,994 NET TOML REV ‐ EXP

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES

Page 358 of 455 ends

BUDGET 2024‐25 Fund 217 ‐ Measure U

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐24

ADOPTED BUDGET
24‐25
882,218 1,415,277 1,281,756 880,000 880,000 $ 923,000
1,801,693 1,282,675 1,066,188 1,491,870 1,491,870 $ 1,519,500 (919,475) 132,602 215,567 (611,870) (611,870) $ (596,500)

REVENUE
217‐000‐30910 Utility Tax: Telephone 41,483 139,785 58,849 100,000 100,000 $ 43,000 217‐000‐30920 Utility Tax: Electricity 586,437 917,262 802,156 530,000 530,000 $ 650,000 217‐000‐30930 Utility Tax: Gas 228,693 244,282 228,362 250,000 250,000 $ 230,000 TOTAL REVENUE 882,218 1,415,277 1,281,756 880,000 880,000 $ 923,000 DEPT 513 MEASURE UEXPENSES
217‐513‐43031 Contractual Services 220,443 278,425 345,050 770,620 770,620 $ 285,000 217‐513‐43100 Audit Services 4,250 4,250 4,500 4,250 4,250 $ 4,500 TOTAL EXPENSES 224,693 282,675 349,550 774,870 774,870 $ 289,500 DEPT 599 INTERFUND TRANSFERSEXPENSES
217‐599‐49999 Transfers Out 1,575,000 1,000,000 715,000 715,000 715,000 $ 1,230,000 TOTAL EXPENSES 1,575,000 1,000,000 715,000 715,000 715,000 $ 1,230,000

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES
NET TOML REV ‐ EXP

Page 359 of 455 ends

BUDGET 2024‐25 Fund 218 ‐ Tourism Business Improvement District (TBID)

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
6,512,350 7,121,827 6,213,531 6,668,250 6,668,250 $ 6,668,250 6,208,737 7,442,894 5,687,876 6,668,250 6,668,250 $ 6,668,250 303,613 (321,067) ‐ 525,655 ‐ ‐ $

REVENUE
218‐000‐32610 TBID ‐ Tier 2 & 3 7,900 7,400 8,250 9,500 9,500 $ 9,500 218‐000‐32614 TBID‐Lodging 2,031,006 2,245,063 1,904,137 2,000,000 2,000,000 $ 2,000,000 218‐000‐32618 TBID‐Retail 1,661,964 1,684,563 1,272,301 1,650,000 1,650,000 $ 1,650,000 218‐000‐32622 TBID‐Restaurant 1,353,676 1,504,994 1,237,866 1,290,000 1,290,000 $ 1,290,000 218‐000‐32626 TBID‐Ski Area Tickets 1,403,217 1,604,704 1,720,055 1,718,750 1,718,750 $ 1,718,750 TOTAL REVENUE 6,512,350 7,121,827 6,213,531 6,668,250 6,668,250 $ 6,668,250 DEPT 415 FINANCE

EXPENSES
218‐415‐43031 Contractual Services 130,144 142,216 74,662 133,365 133,365 $ 133,365 TOTAL EXPENSES 130,144 142,216 74,662 133,365 133,365 $ 133,365 DEPT 480 TOURISM & BUS DEV'T ‐

EXPENSES
218‐480‐49020 TBID Pass Through 6,078,593 7,300,678 5,613,213 6,534,885 6,534,885 $ 6,534,885 TOTAL EXPENSES 6,078,593 7,300,678 5,613,213 6,534,885 6,534,885 $ 6,534,885 NET TOML REV ‐ EXP

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES

Page 360 of 455 ends

BUDGET 2024‐25 Fund 220 ‐ Airport Operations

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
5,080,247 2,442,235 1,977,752 1,453,531 2,659,050 $ 4,007,244 1,397,216 2,006,173 1,658,422 2,280,362 2,327,992 $ 4,007,244 3,683,030 436,062 319,330 (826,831) 331,058 $ 0

REVENUE
220‐000‐31610 Facility Rental 2,200 27,060 7,555 60,600 26,900 $ 60,600 220‐000‐31804 Commissions ‐ 2,560 1,478 ‐ 1,800 $ 1,800 220‐000‐31806 Car Rental Fee 63,581 90,341 69,208 55,000 86,500 $ 55,803 220‐000‐31810 Schat.net Fee 2,835 3,093 3,915 4,080 3,000 $ 4,080 220‐000‐31814 Taxi Services 220 240 220 500 3,500 $ 500 220‐000‐31840 Fuel Flowage Fee 27,231 29,234 29,196 27,000 26,250 $ 27,000 220‐000‐31842 Non‐Aviation Fuel 6,426 13,580 8,345 10,000 13,100 $ 10,000 220‐000‐31862 Hanger Ground Lease 117,254 113,185 116,390 110,000 110,000 $ 110,000 220‐000‐34404 AIP‐52 Terminal and GA Parking ‐ ‐ 69,623 ‐ ‐ $ 1,945,000 220‐000‐34407 AIP‐47 FAA Grant ACRGP ‐ 461,802 300,000 300,000 400,000 $ 285,000 220‐000‐34445 AIP‐49 AARF and $ 333,000
220‐000‐34446 AIP‐XX Town Hanger Taxilane Roconstruction $ 150,000 220‐000‐37002 Interest on Investments 2,829 33,311 90,432 4,000 26,500 $ 4,000 220‐000‐37300 Other Revenue 6,290 55,254 13,152 5,000 13,400 $ 5,000 220‐000‐39999 Interfund Transfers In 493,089 1,225,000 1,333,007 875,551 1,225,000 $ 1,015,462 TOTAL REVENUE 5,080,247 2,442,235 1,977,752 1,453,531 2,659,050 $ 4,007,244 DEPT 471 AIRPORT ADMIN & OPS

EXPENSES
220‐471‐40000 Regular Salaries 393,793 434,558 373,891 386,909 423,256 $ 409,077 220‐471‐40111 Temporary Wages 61,212 53,934 57,341 56,091 59,851 $ 102,457 220‐471‐40113 Overtime Wages 7,544 27,486 7,833 15,000 27,475 $ 15,000 220‐471‐40130 Comprehensive Leave (135) ‐ (14,180) 10,107 18,588 $ 18,729 220‐471‐41002 Health Ins Premiums 137,941 130,450 113,064 153,615 130,519 $ 145,616 220‐471‐41012 Workers Comp Insurance 16,930 24,237 25,803 25,453 25,318 $ 23,352 220‐471‐41020 PERS (Retirement) (189,646) 126,791 89,701 117,926 130,159 $ 111,632 220‐471‐41028 PARS (Part Time Retirement) (22,444) 532 720 1,106 1,180 $ 2,020 220‐471‐42002 Office Supplies 534 219 203 1,500 1,500 $ 1,500 220‐471‐42005 Postal Supplies & Postage ‐ 337 96 1,000 1,000 $ 1,000 NET TOML REV ‐ EXP

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES

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ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
220‐471‐42006 Uniforms & Personal Equip 2,855 9,455 5,058 8,000 8,000 $ 8,000 220‐471‐42007 Maintenance Supplies 50,685 123,505 53,061 60,000 150,000 $ 60,000220‐471‐42016 Gasoline & Diesel 41,009 64,764 30,253 55,000 65,000 $ 55,000 220‐471‐42017 Vehicle Maintenance Parts 35,179 41,232 85,250 40,000 41,250 $ 40,000 220‐471‐42030 Special Operational ‐ 239 17,713 500 500 $ 500 220‐471‐43031 Contractual Services 150,231 185,756 176,141 225,000 425,000 $ 225,000220‐471‐43060 Garage Vehicle Service 23,179 9,075 43,475 45,000 9,000 $ 45,000 220‐471‐43066 Vehicle & Equip Replacement 4,126 4,265 4,429 4,429 4,265 $ 4,398 220‐471‐43106 Insurance Premiums 15,430 16,820 18,130 16,000 16,000 $ 20,000 220‐471‐43110 Mem'ships, Dues, Subscr, Publi 1,300 1,408 2,069 2,000 2,000 $ 2,500 220‐471‐43130 Advertising & Legal Notices 164 ‐ 2,162 500 500 $ 500 220‐471‐43150 Training, Ed, Conf & Mtgs 10,763 20,466 10,710 16,000 19,750 $ 16,000 220‐471‐43404 Public Utilities 76,470 97,989 66,028 80,000 96,000 $ 80,000 220‐471‐43420 Taxes & Fees 2,337 2,095 2,253 5,000 5,000 $ 5,000220‐471‐45010 Facility Lease 112,008 74,036 84,455 80,000 86,000 $ 80,000 220‐471‐46440 Office Equip & Furniture ‐ 2,205 700 1,000 500 $ 1,000 TOTAL EXPENSES 1,127,940 1,440,372 1,301,175 1,415,135 1,749,612 $ 1,473,280 DEPT 531 CAPITAL PROJECTS ‐ OTHER

EXPENSES
220‐531‐40000 Regular Salaries 14,763 10,898 4,719 19,507 15,532 $ 21,182 220‐531‐40130 Comprehensive Leave ‐ ‐ ‐ 582 1,180 $ 1,476 220‐531‐41002 Health Ins Premiums ‐ ‐ ‐ 6,410 4,853 $ 6,033220‐531‐41012 Workers Comp Insurance ‐ 1,081 1,306 1,288 1,081 $ 1,237 220‐531‐41020 PERS (Retirement) 21,985 4,061 26,446 5,967 5,985 $ 5,912 220‐531‐43031 Contractual Services 231,905 549,761 324,777 831,472 549,750 $ 2,498,125 TOTAL EXPENSES 269,277 565,801 357,247 865,227 578,380 $ 2,533,964

Page 362 of 455 ends

BUDGET 2024‐25 Fund 240 ‐ Long Valley Pit

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
31,363 206,624 14,727 26,000 26,000 $ 26,000
4,238 7,887 724 3,000 3,000 $ 3,000
27,125 198,738 14,003 23,000 23,000 $ 23,000

REVENUE
240‐000‐31650 Load Charge 30,728 198,840 (390) 26,000 26,000 $ 26,000 TOTAL REVENUE 31,363 206,624 14,727 26,000 26,000 $ 26,000 DEPT 477 LONG VALLEY PITEXPENSES
240‐477‐43031 Contractual Services ‐ ‐ 6,940 3,000 3,000 $ 3,000 TOTAL EXPENSES 4,238 7,887 724 3,000 3,000 $ 3,000
NET TOML REV ‐ EXP

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES

Page 363 of 455 ends

BUDGET 2024‐25 Fund 245 ‐ Housing Programs

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
7,718,815 9,540,947 6,253,370 1,830,494 5,580,494 3,351,296 1,063,451 1,550,407 2,757,923 5,335,000 5,685,000 1,750,000 6,655,364 7,990,540 3,495,447 (3,504,506) (104,506) 1,601,296

REVENUE
245‐000‐33050 CDBG Grant Revenue 3,680 29,675 338,399 15,000 15,000 1,750,000 245‐000‐39999 Interfund Transfers In 7,600,000 8,768,832 5,204,494 1,454,494 5,204,494 1,601,296 TOTAL REVENUE 7,718,815 9,540,947 6,253,370 1,830,494 5,580,494 3,351,296 DEPT 447 CDBG

EXPENSES
245‐447‐43031 Contractual Services 2,342 ‐ 339,259 12,500 12,500 1,750,000 TOTAL EXPENSES 1,235 1,116 339,330 15,000 15,000 1,750,000 NET TOML REV ‐ EXP

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES

Page 364 of 455 ends

BUDGET 2024‐25 Fund 250 ‐ LTC

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
61,165 51,631 54,278 99,250 99,250 $ 75,000
88,198 33,602 57,190 59,250 59,250 $ 75,000
(27,033) 18,029 (2,911) 40,000 ‐ 40,000 $

REVENUE
250‐000‐35416 LTC: PPM & RPA Planning 61,165 51,631 54,278 99,250 99,250 $ 75,000 TOTAL REVENUE 61,165 51,631 54,278 99,250 99,250 $ 75,000 DEPT 540 STREETS ‐ LTC PROGRAMS

EXPENSES
250‐540‐40000 Regular Salaries 7,673 13,047 14,507 7,342 7,342 $ 11,089 250‐540‐40130 Comprehensive Leave ‐ ‐ ‐ 638 638 $ 377250‐540‐41002 Health Ins Premiums ‐ ‐ ‐ 542 542 $ 2,053 250‐540‐41012 Workers Comp Insurance 11,924 ‐ 519 512 512 $ 626 250‐540‐41020 PERS (Retirement) 9,187 ‐ 26,259 2,959 2,959 $ 3,576 250‐540‐43031 Contractual Services 57,878 20,555 15,660 47,258 47,258 $ 17,278 TOTAL EXPENSES 88,198 33,602 57,190 59,250 59,250 $ 35,000 DEPT 599 INTERFUND TRANSFERS

EXPENSES
250‐599‐49999 Transfers Out ‐ ‐ 40,000 40,000 $ 40,000 TOTAL EXPENSES ‐ ‐ 40,000 ‐ 40,000 $ 40,000 NET TOML REV ‐ EXP

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES

Page 365 of 455 ends

BUDGET 2024‐25 Fund 300 ‐ Capital Projects

ACCOUNT
NUMBER ACCOUNT NAME ACTUAL 21‐22 ACTUAL 22‐23
YEAR TO DATE 23‐
24 APPROVED BUDGET 23‐
24 MODIFIED BUDGET 23‐
24 ADOPTED BUDGET
24‐25
10,231,717 17,220,291 3,075,000 17,659,918 18,701,918 $ 33,467,691 10,231,717 17,220,291 3,075,000 17,659,918 18,701,918 $ 45,569,919 ‐ ‐ ‐ ‐ ‐ $ (12,102,228)

REVENUE
300‐000‐35230 CalTrans State Grants 184,931 2,072,608 483,000 2,968,813 2,968,813 $ 180,000 300‐000‐37500 Proceeds of Debt $ 32,000,000
300‐000‐39999 Interfund Transfers In 9,791,813 15,124,210 2,092,000 1,137,691 2,179,691 $ 1,287,691 TOTAL REVENUE 10,231,717 17,220,291 3,075,000 17,659,918 18,701,918 $ 33,467,691 DEPT 530 CAPITAL PROJECTS ‐ STREETS

EXPENSES
300‐530‐40000 Regular Salaries ‐ ‐ ‐ 2,716 2,716 $ 3,135 300‐530‐40111 Temporary Wages ‐ ‐ ‐ 15,474 15,474 $ 17,294300‐530‐40130 Comprehensive Leave ‐ ‐ ‐ 81 81 $ 157300‐530‐41002 Health Ins Premiums ‐ ‐ ‐ 1,219 1,219 $ 1,323 300‐530‐41012 Workers Comp Insurance ‐ 154 182 179 179 $ 180 300‐530‐41020 PERS (Retirement) 1,104 ‐ 579 831 831 $ 859 300‐530‐41028 PARS (Part Time Retirement) ‐ ‐ ‐ 301 301 $ 336 300‐530‐43031 Contractual Services 663 ‐ 98,418 8,747,644 8,747,644 $ 8,747,644 TOTAL EXPENSES 1,767 99,151 182 8,768,445 8,768,445 $ 8,770,929 DEPT 531 CAPITAL PROJECTS ‐ OTHER

EXPENSES
300‐531‐40000 Regular Salaries 60,750 11,400 6,405 97,291 97,291 $ 106,746 300‐531‐40111 Temporary Wages 17,268 ‐ ‐ 15,474 15,474 $ 17,294 300‐531‐40130 Comprehensive Leave ‐ ‐ ‐ 5,934 5,934 $ 2,872300‐531‐41002 Health Ins Premiums ‐ ‐ ‐ 34,895 34,895 $ 37,628 300‐531‐41012 Workers Comp Insurance ‐ 5,759 6,709 6,618 6,618 $ 5,983 300‐531‐41020 PERS (Retirement) 38,167 ‐ 21,634 32,311 32,311 $ 30,240 300‐531‐41028 PARS (Part Time Retirement) ‐ ‐ ‐ 301 301 $ 336 NET TOML REV ‐ EXP

TOML BUDGET WORKSHEET

TOTAL TOML REVENUE

TOTAL TOML EXPENDITURES

Page 366 of 455 ends

Mammoth Lakes City CouncilJune 19, 2024

Mammoth Lakes City Council
June 19, 2024