Marina City Council
May 16, 2023

EXHIBIT A
61 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Fiduciary Fund Financial Statements

Fiduciary fund financial statements consist of a Statement of Fiduciary Net Position and a Statement of Changes in Fiduciary Net Position.

The City reports the following fiduciary funds:

FORA Dissolution Administration Fund
The FORA Dissolution Administration Fund is used to account for the long- term debt and debt service issued by FORA prior to its dissolution which is administered by the City and held in Trust.

Successor Agency Private Purpose Trust Funds
The Successor Agency Private Purpose Trust Funds includes the Successor Agency Obligation Retirement Fund and the Successor Agency Housing Assets Fund. The Successor Agency was created as a result of the State order to dissolve California Redevelopment Agencies. These funds are used to track the activities by the Successor Agency Oversight Board and the City’s Department of Finance in relation to the remaining assets and liabilities of the Successor Agency. The Housing Successor is governed by the City of Marina City Council and is obligated to use the Housing Successor Agency’s assets according to Redevelopment law for low and moderate-income housing.

C. Cash, Cash Equivalents and Investments

The City pools cash resources from all funds in order to facilitate the management of cash. The balance in the pooled cash account is available to meet current operating requirements. Cash in excess of current requirements is invested in various interest-bearing accounts and other investments for varying terms.

The City's cash and cash equivalents are considered to be cash on hand, demand deposits, and short -term investments with original maturity of three months or less from the date of acquisition. Cash and cash equivalents are combined with investments and displayed as Cash and Investments. For the purpose of the statement of cash flows, the City considers all pooled cash and investments (consisting of cash and investments and restricted cash and investments) held by the City as cash and cash equivalents because the pool is used essentially as a demand deposit account from the standpoint of the funds. The City also considers all non -pooled cash and investments (consisting of cash with fiscal agent and restricted cash and investments held by fiscal agent) as cash and cash equivalents because investments meet the criteria for cash equivalents defined above.

Deposit and Investment Risk Disclosures - In accordance with GASB Statement No. 40, Deposit and Investment Disclosures (Amendment of GASB Statement No. 3), certain disclosure requirements, if applicable, for Deposits and Investment Risks in the following areas: Interest Rate Risk , Overall Credit Risk, Custodial Credit Risk, Concentrations of Credit Risk, and Foreign Currency Risk.

Other disclosures are specified including use of certain methods to present deposits and investments, highly sensitive investments, credit quality at year -end and other disclosures. The City participates in an investment pool managed by the State of California titled Local Agency Investment Fund (LAIF), which has invested a portion of the pool funds in Structured Notes and Asset Backed Securities. LAIF's investments are subject to credit risk with the full faith and credit of the State of California c ollateralizing these investments. In addition, these Structured Notes and Asset-Backed Securities are subject to market risk as to change in interest rates.

EXHIBIT A
62 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Investments are recorded at fair value in accordance with GASB Statement No. 72, Fair Value Measurement and Application. Accordingly, the change in fair value of investments is recognized as an increase or decrease to investment assets and investment income.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction. In determining this amount, three valuation techniques are available:

• Market approach - This approach uses prices generated for identical or similar assets or liabilities.

The most common example is an investment in a public security traded in an active exchange such as the NYSE.
• Cost approach - This technique determines the amount required to replace the current asset. This approach may be ideal for valuing donations of capital assets or historical treasures. • Income approach - This approach converts future amounts (such as cash flows) into a current discounted amount.

Each of these valuation techniques requires inputs to calculate a fair value. Observable inputs have been maximized in fair value measures, and unobservable inputs have been minimized.

D. Restricted Cash and Investments

Certain restricted cash and investments are held by fiscal agents for the redemption of bonded debt, for acquisition and construction of capital projects, and to meet bond indenture debt reserve requirements. Cash and investments are also restricted for deposits held for others within the enterprise funds. Amounts held in Trust for FORA Dissolution Administration and Successor Agency obligations are also reported as restricted cash and investments.

E. Interfund Receivables and Payables

Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either “due to/from other funds” (i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., the non-current portion of interfund loans). All other outstanding balances between funds are reported as “due to/from other funds.” Any residual balances outstanding between the governmental activities and business -type activities are reported in the government-wide financial statements as “internal balances.”

Advances between funds, as reported in the fund financial statements, are offset by a fund balance reserve account in applicable government funds to indicate that they are not available for appropriation and are not expendable available financial resources. The City considers all trade and property tax receivables to be fully collectible and therefore no allowance for uncollectible accounts is considered necessary.

F. Receivables

Billed, but unpaid, services provided to individuals or non-governmental entities are recorded as accounts receivable. Revenues earned but not collected by year -end are accrued. No allowance for uncollectible accounts receivable has been provided as management has determined that uncollectible accounts have historically been immaterial and the direct write-off method does not result in a material difference from the allowance method.

EXHIBIT A
63 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

G. Loans Receivable

Repayments of outstanding loans are classified as a revenue source in the applicable funds when collected and expenditures in the years disbursed. The portion of loans receivable deemed to be unavailable have been offset by Unavailable Revenues in the accompanying financial statements, which is a part of deferred inflows of resources.

H. Lease Receivables

When applicable, the City’s lease receivables are measured at the present value of lease payments expected to be received during the lease term. A deferred inflow of resources is recorded for the lease.

The deferred inflow of resources i s recorded at the initiation of the lease in an amount equal to the initial recording of the lease receivable plus incentive payments received. The deferred inflow of resources is amortized on a straight-line basis over the term of the lease.

I. Prepaid Expenses and Inventory

The aviation fuel inventory held by the Airport is stated at cost using the first -in-first-out (FIFO) valuation method. Materials and supplies used by governmental funds are recorded as expenditures at the time they are purchased or obtained.

Prepaid expenses are also recogni zed under the consumption method. Payments to vendors that reflect costs applicable to future accounting periods are recorded as prepaid expenses in both government -wide and fund financial statements.

J. Capital Assets

Capital assets used in governmental fund operations, including infrastructure assets (i.e. roads, curbs, gutters, bridges, sidewalks, drainage systems, lighting systems, and other assets) are reflected in the government-wide financial statements, along with related depreciation. Capital assets are defined by the City as assets with an initial individual cost of more than $10,000 for equipment, $100,000 for buildings and improvements and $200,000 for infrastructure, and an estimated life in excess of 1 year. Purchased capital assets are valued at historical cost or estimated historical cost. Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are valued at acquisition value on the date donated. Capital assets acquired under lease or purchase agreements are capitalized when the City accumulates an ownership equity in the assets acquired.

The purpose of depreciation is to spread the cost of capital assets equitably among all users over the life of these assets. The amount charged to depreciation expense each year represents that year’s pro rata share of the cost of capital assets. Major outlays for capital assets and improvements are capitalized as projects are constructed.

Depreciation is provided using the straight -line method whereby the cost of the asset is divided by its expected useful life in years and the result is charged to expense each year until the asset is fully depreciated. The City has assigned the useful lives of the assets which range from four to forty years.

Abrams Housing and Preston Park Housing Proprietary Funds have 50- year leasehold interests in these housing developments. The leasehold is depreciated over those 50 years. The City of Marina remains the property owner of the Abrams and Preston Park Housing projects.

EXHIBIT A
64 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

K. Deferred Outflows/Deferred Inflows

In addition to assets, the statement of financial position or balance sheet will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position or fund balance that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the statement of financial position or balance sheet will sometimes repo rt a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position or fund balance that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

L. Interest Payable

In the government -wide and proprietary fund financial statements, interest payable of long -term debt is recognized as an incurred liability for governmental fund types. The City has not allocated the interest on long-term debt to departments. In the fund financial statements, governmental fund types do not recognize the interest payable when the liability is incurred. Interest on long-term debt is recorded in the fund statements when payment is made.

M. Compensated Absences

It City employees are granted vacation and sick days in varying amounts based on classification and length of service. Upon termination or retirement, the City is to pay 100% of vacation and compensatory time off. Personal time off (PTO ) and sick leave is paid in accordance with the applicable employee Memorandum of Understanding (MOU ) or individual employment contract. The City’s liability for compensated absences is recorded at the City-wide level in the Statement of Net Position for Governmental Activities. The liability for compensated absences is determined annually, however such compensated absences payments are not distinguished from regular payroll paid during the fiscal year.

Compensated absences are liquidated by the fund that has recorded the liability. The long-term portion of governmental activities compensated absences is liquidated primarily by the General Fund because most City employees are paid from the General Fund.

N. Long-Term Obligations

In the government -wide financial statements and proprietary fund statements, long -term debt and other long-term obligations are reported as liabilities in the applicable governmental or bus iness-type activities.

Bond premiums and discounts are deferred and amortized over the life of the bonds using the straight -line method. Bonds payable are reported net of the applicable bond premium or discount. Debt issuance costs are expensed in year incurred.

In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financial sources. Premiums received on debt issuance are reported as other financing sources while discounts on debt issuance reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

EXHIBIT A
65 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

O. Benefit Plans

Pension Expense
For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City’s California Public Employees’ Retirement System (CalPERS) plans (the Plans) and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by CalPERS.

For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.

Other Postemployment Benefit (OPEB) Expense
For purposes of measuring the Total OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense information about the fiduciary net position of the City’s Retiree Benefits Plan (the OPEB Plan) and additions to/deductions from the OPEB Plan's fiduciary net position have been determined on the same basis as they are re ported by the OPEB Plan. For this purpose, the OPEB Plan recognizes benefit payments when due and payable in accordance with the benefit terms. Investments are reported at fair value. Generally accepted accounting principles require that the reported results must pertain to liability and asset information within certain defined timeframes. For this report, the following timeframes are used:

Valuation Date June 30, 2021
Measurement Date June 30, 2021
Measurement Period June 30, 2020 to June 30, 2021

P. Fund Balances

In accordance with Government Accounting Standards Board 54, Fund Balance Reporting and Governmental Fund Type Definitions, the City classifies governmental fund balances as follows:

Nonspendable
Nonspendable fund balance represents balances set aside to indicate items that do not represent available, spendable resources even though they are a component of assets. Fund balances requi red to be maintained intact, such as Permanent Funds, and assets not expected to be converted to cash, such as prepaids, notes receivable, and land held for redevelopment are included. However, if proceeds realized from the sale or collection of nonspendable assets are restricted, committed, or assigned, then Nonspendable amounts are required to be presented as a component of the applicable category.

Restricted
Restricted fund balances have external restrictions imposed by creditors, grantors, contributors, laws, regulations, or enabling legislation which requires the resources to be used only for specific purpose.

Encumbrances and nonspendable amounts subject to restrictions are included along with spendable resources.

Committed
Committed fund balances have constraints imposed by passage of a Resolution of the City Council which may be altered only by Resolution of the City Council. Encumbrances and nonspendable amounts subject to Council commitments are included along with spenda ble resources. The City considers Resolutions to be the highest level of action that can be taken by Council that constitutes the most binding constraint.

EXHIBIT A
66 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Assigned
Assigned fund balances are amounts constrained by the City’s intent to be used for a specific purpose, but are neither restricted nor committed. Intent is expressed by the City Council or its designee and may be changed at the discretion of the City Council or its designee. This category includes encumbrances; nonspendable amounts, when it is the City’s intent to use proceeds or collections for a specific purpose, and residual fund balances, if any, of Special Revenue, Capital Projects, and Debt Service Funds, which have not been restricted or committed. The City Council has delegated the authority to make assignments of fund balance to the City Manager and Finance Director.

Unassigned
Unassigned fund balance represents residual amounts that have not been restricted, committed, or assigned. This includes the residual general fund balance and residual fund deficits, if any, of other governmental funds.

Flow Assumption / Spending Order Policy
When expenditures are incurred for purposes for which both restricted and unrestricted fund balance is available, the City considers restricted funds to be spent first. When expenditures are incurred for which committed, assigned, or unassigned fund balances are available, the City considers amounts to be spent first out of committed funds, then assigned funds, and finally unassigned funds, as needed, unless the City Council has directed otherwise.

Q. Net Position

In the government-wide financial statements, net position is classified in the following categories:

Net Investment in Capital Assets
This amount consists of capital assets net of accumulated depreciation and reduced by outstanding debt that are attributed to the acquisition, construction, or improvement of the assets. In addition, deferred outflows of resources and deferred inflows of resources that are attributable to the acquisition, construction, or improvement of those assets or related debt also are included in the net investment in capital assets component of net position

Restricted Net Position
This amount is restricted by external creditors, grantors, contributors, or laws or regulations of other governments.

Unrestricted Net Position
This amount is all net position that does not meet the definition of "net inve stment in capital assets" or "restricted net position."

The detail of amounts reported for each of the above defined net position categories is reported in the government-wide Statement of Net Position.

Use of Restricted/Unrestricted Net Position
When an expense is incurred for purposes for which both restricted and unrestricted net position are available, the City's policy is to apply restricted net position first.

EXHIBIT A
67 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

R. Interfund Transactions

Interfund services provided and used are accounted for as revenue, expenditures or expenses, as appropriate. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursed fund. All other interfund transactions, except for interfund services provided and used and reimbursements, are reported as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as transfers.

S. Property Taxes and Special Assessments

The County of Monterey levies, bills, and collects property taxes and special assessments for the City.

Property taxes levied are recorded as revenue when received.

Tax collections are the responsibility of the County Tax Collector. Taxes and assessments on secured and utility rolls constitute a lien against the property, may be paid in two installments the first is due November 1st of the fiscal year and is delinquent if not paid by December 10th and the second is due on February 1st of the fiscal year and is delinquent if not paid by April 10 th. Unsecured personal property taxes do not constitute a lien against real property unless the tax becomes delinquent.

Property valuations are established by the Assessor of the County of Monterey for the secured and unsecured property tax rolls. Under the provisions of Article XIIIA of the State Constitution, properties are assessed at 100 % of purchase price or value in 1978 whichever is later. From this base assessment, subsequent annual increases in valuation are limited to a maximum of 2 percent. However, increases to full value are allowed for property improvements or upon change in ownership. Personal property is excluded from these limitations, and is subject to annual reappraisal.

Tax levy dates are attached annually on January 1 st preceding the fiscal year for which the taxes are levied. The fiscal year begins July 1st and ends June 30th of the following year. Taxes are levied on both real and unsecured personal property, as it exists at that time. Liens against real estate, as well as the tax on personal property, are not relieved by subsequent renewal or change in ownership.

T. Budgetary Information

The City adopts a budget annually for all governmental fund types. This budget is effective July 1 for the ensuing fiscal year. From the effective date of the budget, which is adopted at the fund level, the amounts stated therein as proposed expenditures become ap propriations to the various City departments. The legal level of budgetary control is the fund level. The City Council may amend the budget by resolution during the fiscal year. The City Manager has the authority to make adjustments to the operating budget between departments within the same fund. Transfers of operating budgets between funds, use of unappropriated fund balances, and significant changes in capital improvement project budgets require the approval of the City Council. The City’s basis of budgeting is the same as GAAP.

U. Encumbrances

Under encumbrance accounting, purchase orders, contract and other commitments for expenditures are recorded in order to commit that portion of the applicable appropriation. Encumbrance accounting is employed as an extension of formal budgetary integration in all funds. All appropriations and encumbrances lapse at year end, valid outstanding encumbrances (those for which performance under the

EXHIBIT A
68 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

executory contract is expected in the next year) are re-app ropriated and become part of the subsequent year’s budget pursuant to state regulations.

V. Unearned Revenue

Unearned revenue arises when assets are received before revenue recognition criteria have been satisfied.

Grants and entitlements received before eligibility requirements are met are recorded as deferred inflows from unearned revenue. In the governmental f und financial statements, receivables associated with non- exchange transactions that will not be collected within the availability period have been recorded as deferred inflows from unavailable revenue.

W. Use of Estimates

The preparation of basic financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

X. Implementation of New Accounting Pronouncements

GASB Statement No. 87, Leases

The objective of this statement is to better meet the information needs of financial statement users by improving accounting and financial reporting for leases by governments. This statement increases the usefulness of governments’ financial statements by requiring recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. It establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. Under this statement, a lessee is required to recognize a lease liability and an intangible right-to-use lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources, thereby enhancing the relevance and consistency of information about governments’ leasing activities. As of June 30, 2022, the City recognized $9,650,644 in leases receivable which was offset by deferred inflows of resources of $9,040,656. Beginning net position was increased by $584,445 to record the l essor transactions and beginning net position was increased by $156,132 to record the lessee transactions. See Note 4 and Note 6 for additional information.

Y. Upcoming New Accounting Pronouncements

GASB Statement No. 94, Public -Private Partnerships and Public-Public Partnerships and Availability Payment Arrangements

The primary objective of this Statement is to improve financial reporting by addressing issues related to public-private and public-public partnership arrangements (PPPs). As used in this Statement, a PPP is an arrangement in which a government (the transferor) contracts with an operator (a governmental or nongovernmental entity) to provide public services by conveying control of the right to operate or use a nonfinancial asset, such as infrastructure or other capital asset (the underlying PPP asset), for a period of time in an exchange or exchange-like transaction. Some PPPs meet the definition of a service concession arrangement (SCA), which the Board defines in this Statement as a PPP in which (1) the operator collects and is compensated by fees from third parties; (2) the transferor determines or has the ability to modify or approve which services the operator is required to provide, to whom the operator is required to provide

EXHIBIT A
69 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

the services, and the prices or rates that can be charged for the services; and (3) the transferor is entitled to significant residual interest in the service utility of the underlying PPP asset at the end of the arrangement.

This Statement also provides guidance for accounting and financial reporting for availability payment arrangements (APAs). As defined in this Statement, an APA is an arrangement in which a government compensates an operator for services that may include designing, constr ucting, financing, maintaining, or operating an underlying nonfinancial asset for a period of time in an exchange or exchange -like transaction. The requirements of this Statement are to be effective for financial statements for periods beginning after June 15, 2022. Earlier application is encouraged.

GASB Statement No. 96, Subscription-Based Information Technology Arrangements

GASB 96 provides guidance on accounting for Subscription-Based Information Technology Arrangements (SBITA) where the government contracts for the right to use another party’s software. The standards for SBITAs are based on the standards established in GASB Statement No. 87, Leases. GASB 96 is effective for fiscal years beginning after June 15, 2022.

GASB Statement No. 99, Omnibus 2022

Omnibus statements are issued by GASB to address practice issues identified after other standards have been approved for implementation. Omnibus statements “clear up the loose ends” for recent prior statements GASB has issued. This Omnib us addresses recent pronouncements, including GASB 87 – Leases, GASB 94 – Public-Private and Public -Public Partnerships and Availability Payment Arrangements, and GASB 96 – Subscription-Based Information Technology Arrangements.

Effective Date: The requirements of this Statement are effective as follows:

• The requirements related to extension of the use of LIBOR, accounting for SNAP distributions, disclosures of nonmonetary transactions, pledges of future revenues by pledging governments, clarification of certain provisions in Statement 34, as amended, and terminology updates related to Statement 53 and Statement 63 are effective upon issuance • The requirements related to leases, PPPs, and SBITAs are effective for fiscal years beginning after June 15, 2022, and all reporting periods thereafter. • The requirements related to financial guarantees and the classification and reporting of derivative instruments within the scope of Statement 53 are effective for fiscal years beginning after June 15, 2023, and all reporting periods thereafter.

Earlier application is encouraged and is permitted by topic.

GASB Statement No. 100, Accounting Changes and Error Corrections —an amendment of GASB Statement No. 62

This Statement defines accounting changes as changes in accounting principles, changes in accounting estimates, and changes to or within the financial reporting entity and describes the transactions or other events that constitute those changes. This Statement also prescribes the accounting and financial report ing for (1) each type of accounting change and (2) error corrections in previously issued financial statements.

The requirements of this Statement are effective for accounting changes and error corrections made in fiscal years beginning after June 15, 2023 , and all reporting periods thereafter. Earlier application is encouraged.

EXHIBIT A
70 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

GASB Statement No. 101, Compensated Absences

This Statement requires that liabilities for compensated absences be recognized for (1) leave that has not been used and (2) leave that has been used but not yet paid in cash or settled through noncash means. A liability should be recognized for leave that has not been used if (a) the leave is attributable to services already rendered, (b) the leave accumulates, and (c) the leave is more likely than not to be used for time off or otherwise paid in cash or settled through noncash means. Leave is attributable to services already rendered when an employee has performed the services required to earn the leave. Leave that accumulates is carried forward from the reporting period in which it is earned to a future reporting period during which it may be used for time off or otherwise paid or settled. In estimating the leave that is more likely than not to be used or otherwise paid or settled, a government should consider relevant factors such as employment policies related to compensated absences and historical information about the use or payment of compensated absences. However, leave that is more likely than not to be settled throu gh conversion to defined benefit postemployment benefits should not be included in a liability for compensated absences.

This Statement requires that a liability for certain types of compensated absences—including parental leave, military leave, and jury duty leave—not be recognized until the leave commences. This Statement also requires that a liability for specific types of compensated absences not be recognized until the leave is used.

This Statement also establishes guidance for measuring a liability for leave that has not been used, generally using an employee’s pay rate as of the date of the financial statements. A liability for leave that has been used but not yet paid or settled should be measured at the amount of the cash payment or noncash settlement to be made. Certain salary -related payments that are directly and incrementally associated with payments for leave also should be included in the measurement of the liabilities.

With respect to financial statements prepared using the current financial resources measurement focus, this Statement requires that expenditures be recognized for the amount that normally would be liquidated with expendable available financial resources. The requirements of this Statement are effective for fiscal years beginning after December 15, 2023, and all reporting periods thereafter.

NOTE 2 - CASH AND INVESTMENTS

As of June 30, 2022, cash and investments were reported in the financial statements as follows:

Governmental
Activities
Business-Type
Activities Total
Cash and investments 113,328,615$ 13,518,466$ 6,530,590$ 133,377, 671$ Restricted cash and investments 925,047 - 8,524,627 9,449,674 Total cash and investments 114,253,662$ 13,518,466$ 15,055,217$ 142,827,345$ Government Wide
Statement of Net Position Fiduciary Funds
Statement of Net
Position

EXHIBIT A
71 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Cash and investments consisted of the following as of June 30, 2022:

Deposits:

Cash on hand 5,900$
Cash with fiscal agents 11,266,777
Cash in banks 7,914,057
Total deposits 19,186,734
Investments:

Local Agency Investment Fund 80,230,994
Commercial Paper 4,965,837
Bonds 15,933,547
US Treasurey obligations 13,060,559
Total investments 114,190,937
Total City Treasury 133,377,671
Restricted cash and investments:

Money market funds 462,983
Cash in banks 461,564
Cash with fiscal agent 8,525,127
Total restricted cash and investments 9,449,674
Total cash and investments 142,827,345$

A. Cash Deposits

The California Government Code requires California banks and savings and loan associations to secure the City's cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest, and places the City ahead of general creditors of the institution. The market value of pledged securities must equal at least 110 percent of the City's cash deposits. California law also allows institutions to secure City deposits by pledging first trust deed mortgage notes that have a value of 150 percent of the City 's total cash deposits. The City has waived the collateral requirements for cash deposits which are fully insured to $25 0,000 by the Federal Deposit Insurance Corporation (FDIC).

The bank balances before reconciling items totaled $8,876,474 at June 30, 2022 and were different from carrying amounts due to deposits in t ransit and outstanding checks. The amount uninsured was $8,626,474, which was collateralized by securities held by pledging financial institutions. The City follows the practice of pooling cash and investments of all funds, except for funds required to be held by fiscal agents under the provisions of bond indentures. Interest income earned on pooled cash and investments is allocated to the various fun ds based on the period-end cash and investment balances.

Interest income from cash and investments with fiscal agents is credited directly to the related fund.

B. Fair Value Measurements

GASB 72 established a hierarchy of inputs to the valuation techniques with three levels:

• Level 1 inputs are quoted prices in active markets for identical assets or liabilities. • Level 2 inputs are quoted market prices for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other than quoted prices that are not observable
• Level 3 inputs are unobservable inputs, such as a property valuation or an appraisal.

EXHIBIT A
72 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Investment Policies

City Investment Policy
Under the provisions of the City 's investment policy, and in accordance with California Government Code, the following investments are authorized:

M aximu m
Maturity
Minimum
Credit
Quality
M aximu m
Percentage of
Portfolio
M aximu m
Investm ent
in One Issuer
U.S. Treasury Bills, Notes and Bonds (A) N/A No Limit No Limit U.S. G overnm ent-Sponsored Enterprise Agencies:

G overnm ent National Mortgage Association 5 years N/A No Limit No Limit Federal National Mortgage Association 5 years N/A No Limit No Limit Federal Home Loan Mortgage 5 years N/A No Limit No Limit Corporation Federal Hom e Loan Bank 5 years N/A No Limit No Limit Banker's Acceptances 180 days N/A 30% One Commercial
Bank
Certificates of Deposit 5 years N/A 15% (B)
Commercial Paper 270 days N/A 15% Highest Rating
by an NRSRO*
Commercial Paper 31 days N/A 30% Highest Rating
by an NRSRO*
Corporate Notes 5 years N/A 30% No Limit
Mutual Funds N/A N/A 20% Highest Rating
by an NRSRO*
Reverse Repurchase Agreements 92 days N/A 20% No Limit
Repurchase Agreements 1 year N/A No Limit No Limit
California Local Agency Investm ent Fund N/A N/A No Limit $40,000,000 per account
(A) Max im um m aturities of 5 years or greater with specific City Council approval (B) $250,000 unless collateralized by eligible securities as provided by California G overnm ental Code Sections 53651 and 53652.
* Nationally Recognized Statistical Rating Organization Authorized Investm ent Type

Under the provisions of the City 's investment policy, and in accordance with California Government Code, the following investments are authorized:

Under the terms of certain debt issuances, the City must maintain required amounts of cash and investments with trustees or fiscal agents. These funds are unexpended bond proceeds or are pledged as reserves to be used if the City fails to meet its obligations under these debt issues. The California Government Code requires these funds to be invested in accordance with City ordinance, bond indentures or State statute. The table below identifies the investment types that are authori zed for investments with fiscal agents. The bond indentures contain no limitations for the maximum investment in any one issuer or the maximum percentage of the portfolio that may be invested in any one investment type.

EXHIBIT A
73 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

The table also identifies certain provisions of these debt agreements:

M aximu m
Maturity
Minimum
Credit Quality
U.S. Treasury Obligations None N/A
U.S. Agency Obligations None N/A
U.S. G overnm ent-Sponsored Agency Obligations None N/A State Obligations:

General Obligation None A
G eneral Short-Term Obligation None A-1+
Special Revenue Bonds None AA
Pre-Refunded Municipal Obligation None AAA
Unsecured Certificates of Deposit 30 days A-1
FDIC-Insured Deposit None N/A
Repurchase Agreements None A
Commercial Paper 270 days Three highest categories
Bankers' Acceptances (A) A-1
Money Market Mutual Funds None Three highest categories Investment Agreement None N/A
Tax -Ex em pt Obligations None Three highest categories State of California- Local Agency Investm ent Fund None N/A (A) Max im um m aturities of 5 years or greater with specific City Council approval Authorized Investm ent Type

The City’s portfolio value fluctuates in an inverse relationship to any change in interest rate. Accordingly, if interest rates rise, the portfolio value will decline. If interest rates fall, the portfolio value will rise. The portfolio for year -end reporting purposes is treated as if it were all sold. Therefore, fund balance must reflect the portfolio’s change in value. These portfolio value changes are unrealized unless sold. Generally the City’s practice is to buy and hold investments until maturity dates. Consequently, the City ’s investments are carried at fair value.

C. External Investment Pool

The City's investments with LAIF at June 30, 2022 , include a portion of the pool funds invested in Structured Notes and Asset-Backed Securities. These investments include the following:

Structured Notes
These are debt securities (other than asset -backed securities) whose cash flow characteristics (coupon rate, redemption amount, or stated maturity) depend upon one or more indices and/or that have embedded forwards or options.

Asset-Backed Securities
The bulk of asset-backed securities are mortgage-backed securities, entitle their purchasers to receive a share of the cash flows from a pool of assets such as principal and interest repayments from a pool of mortgages (such as CMO's) or credit card receivables. LAIF is overseen by the Local Agency Investment Advisory Board, which consists of five members, in accordance with State statute. The approved investments policy is listed on the LAIF website, located at http://www.treasurer.ca.gov/pmia-laif/.

EXHIBIT A
74 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

D. Risk Disclosures

Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the term of an investment’s maturity, the greater the sensitivity to changes in market interest rates. One of the ways that the City's interest rate risk is mitigated is by purchasing a combination of shorter term and longer -term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations.

Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of an investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. With the exception of U.S. Treasury obligations and authorized pools, no more than 50% of the City’s total investment portfolio will be invested in a single security type or with a single financial institution to reduce the City ’s exposure to credit risks. As of June 30, 2022, the City ’s investments were in compliance with the ratings required by the City ’s investment policy and Government Code. U.S. Treasury obligations, bonds and commercial paper were rated AAA by S&P and amounts held by bond trustees in money market accounts were rated AAA my S&P and Aaa by Moody’s.

Concentrations of Credit Risk
The investment policy of the City contains no limitations on the amount that can be invested in any one issuer beyond that stipulated by the California Government Code. As of June 30, 2022, the City had no investments in any one issuer (other than U .S. Treasury obligations , bonds, and the external investment pools) that represented 5% or more of the total City investments.

Custodial Credit Risk
For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The California Government Code and the City 's investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for investments.

With respect to investments, custodial credit risk generally applies only to direct investments in marketable securities. Custodial credit risk does not apply to a local government's indirect investment in securities through the use of mutual funds or government investment pools (such as LAIF).

As of June 30, 2022, the City’s investments had the following maturities:

12 Months
or Less 1-5 years Fair Value Concentrations
Fair Value Input
Levels
Local Agency Investment Fund 80,230,994$ -$ 80,230,994$ 70.0% n/a Commercial Paper 4,965,837 - 4,965,837 4.3% Level 1 Bonds 13,024,423 2,909,124 15,933,547 13.9% Level 1 US Treasury obligations 13,060,559 - 13,060,559 11.4% Level 1 Held by bond trustee:

Money market funds 462,983 - 462,983 0.4% Level 1 Total Investments 111,744,796$ 2,909,124$ 114,653,920$

Investment Type
Maturity

EXHIBIT A
75 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

NOTE 3 - LOANS RECEIVABLE

The City has engaged in programs designed to encourage construction or improvement of low -to- moderate income housing or other projects. Under these programs, grants or loans are provided under favorable terms to homeowners who agree to spend these funds in accordance with the City's terms. The balances of these loans arising from these business and housing programs at June 30, 2022 were $607,000.

The loans have varying maturity dates and interest rates, depending on loan agreements. The balance of the notes receivable have been offset in the fund financial statements by deferred inflows of resources as they are not deemed measurable and available within 60 days, except for those loans that have current payment activity. The loans were fully reserved for in the Statement of Net Position.

The City has a loan program for developers for impact fees and engineering fees imposed by the City. At June 30, 2022 the City had $- in loans receivable outstanding. These loans are offset in the fund financial statements by deferred inflows of resources.

NOTE 4 - LEASES RECEIVABLE

Leases receivable for governmental activities consisted of the following as of June 30, 2022:

Fort Ord Market Joby Aviation Comcast T-Mobile
Ground Lease Storage Cell Tower Cell Tower Total
Inception 8/22/2006 5/17/2022 1/1/2002 7/1/1996
End 8/22/2030 5/17/2024 1/1/2042 7/1/2026
Interest Rate 5.03% 2.71% 5.
56% 5.00%
Annual Payment 130,260$ 6,900$ 24,000$ 21,600$ Leases Receivable:

Beginning -$ -$ -$ -$ -$ Adjustments 941,314 - 289,319 95,384 1,326,016 Additions - 13,418 - - 13,418 Deletions (84,850) (6,618) (8,119) (17,222) (116,809) Ending 856,463 6,800 281,200 78,162 1,222,625

Deferred Inflows of Resources:

Beginning - - - - - Adjustments 604,437 - 192,360 111,769 908,566 Additions - 13,418 - - 13,418 Deletions (75,555) (6,709) (9,618) (11,177) (103,058) Ending 528,882 6,709 182,742 100,592 818,925 Net Book Value 327,581$ 91$ 98,458$ (22,430)$ 403,700$

EXHIBIT A
76 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Leases receivable for business-type activities consisted of the following as of June 30, 2022:

Marina Municipal Airport Enterprise Fund Leases Receivable:

Earliest Inception 7/1/1996
Latest Inception 4/1/2022
Earliest Lease End 11/7/2023
Latest Lease End 3/3/2050
Lowest Interest Rate 0.42%
Highest Interest Rate 6.91%
Annual Payment 1,053,536$
Deferred Net
Leases Inflows of Book
Receivable Resources Value
Beginning -$ -$ -$
Adjustments 9,009,044 8,842,048 166,995 Additions 323,027 323,027 -
Deletions (904,052) (943,344) 39,293 Ending 8,428,019$ 8,221,731$ 206,288$

NOTE 5 - INTERFUND TRANSACTIONS

Inter-fund Receivables and Payables
Amounts due to or due from other funds reflect inter-fund balances for services rendered or short-term loans expected to be repaid in the next fiscal year. Advances to or from other funds are long-term loans between funds that are to be repaid in their entirety over several years.

On November 1, 2006, the Marina Joint Powers Financing Authority issued $ 14,360,000 revenue bonds for the purpose of financing a loan in the same amount to the Abrams -B Non -Profit Corporation.

Simultaneously, the corporation paid the entire $ 14,360,000 back to the City of Ma rina, to pay loan costs and to acquire a 50 -year leasehold interest in the Abrams- B Apartments housing project. Also simultaneously, the City paid that cash to The Fort Ord Reuse Authority to purchase the Abrams -B property. Monthly note payments are made by the corporation to the City according to an original amortization schedule which was subsequently revised on November 15, 2016, at a lower interest rate, resulting is smaller monthly payments. Payments on the note are structured to be sufficient for the bond trustee to pay semi -annual principal and interest on the revenue bonds. Bond payments are made semiannually and will be fully re-paid in 2036. The balance of the loan was $8,843,750 at June 30, 2022.

As of June 30, 2022, inter-fund receivables and payables consisted of the following:

Advances to Advances from
Fund Other Funds Other Funds
Abrams B Debt Service Fund 8,843,750$ -$
Abrams B Housing Fund - 8,843,750
Total advances 8,843,750$ 8,843,750$

EXHIBIT A
77 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Transfers In/Out
With Council approval resources may be transferred from one fund to another . The following summarizes transfers between funds during the fiscal year ended June 30, 2022:

Fund Transfer in Transfer out
General Fund 240,946$ 10,373,220$
City Capital Projects 18,338,616 92,844
Impact Fee Fund - 6,050,000
FORA Dissolution Fund - 3,527,396
Nonmajor Governmental Funds 3,764,775 1,436,302 Marina Municipal Airport Fund 12,000 876,575 Total Transfers 22,356,337$ 22,356,337$

Intra-Fund Transfers In/Out
The following table represents intra-fund transfers made during the fiscal year ended June 30, 2022:

Fund Transfer in Transfer out
General Fund -$ 1,355,000$
Vehicle & Equipment Replacement Fund 905,000 - Pension Stabilization Fund 450,000 -
Total Eliminations 1,355,000$ 1,355,000$

Intra-fund transfers are eliminated for presentation in the fund financial statements.

NOTE 6 - CAPITAL ASSETS

Capital assets for governmental activities consisted of the following as of June 30, 2022:

Balance Balance
Governmental Activities June 30, 2021 Additions Adjustments Deletions June 30, 2022 Non-depreciable:

Land 22,080,651$ -$ -$ -$ 22,080,651$ Total Non-Depreciable 22,080,651 - - - 22,080,651 Depreciable and Amortizable:

Buildings and improvements 50,197,885 298,094 - 50,495,979 Equipment 9,228,377 - (663,156) - 8,565,221 Infrastructure 37,764,633 2,165,570 - - 39,930,203 Right of use assets - equipment - 275,212 940,860 - 1,216,072 Total Depreciable 97,190,895 2,738,876 277,704 - 100,207,475 Less Accumulated Depreciation for:

Buildings and improvements (20,041,291) (1,172,757) - - (21,214,048) Equipment (7,268,458) (487,998) 663,156 - (7,093,300) Infrastructure (6,743,705) (948,729) - - (7,692,434) Right of use assets - equipment - (276,372) (507,024) - (783,396) Total Accumulated Depreciation (34,053,454) (2,885,856) 156,132 - (36,783,178) Total Depreciable Capital Assets - Net 63,137,441 (146,980) 433,836 - 63,424,297 Total Governmental Capital Assets 85,218,092$ (146,980)$ 433,836$ -$ 85,504,948$

The City’s beginning net position was increased by $156,132 to implement GASB 87, Leases.

EXHIBIT A
78 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Depreciation expense for governmental activities was charged to the following programs during the year:

General government 948,537$
Public safety 754,266
Public works 72,038
Economic & community development 1,044,345
Recreation & cultural services 66,670
Total depreciation expense 2,885,856$

Capital assets for business-type activities consisted of the following as of June 30, 2022:

Balance Balance
Business Type Activities July 1, 2021 Additions Adjustments Deletions June 30, 2022 Non Depreciable
Land 36,900,000$ -$ -$ -$ 36, 900,000$ Total Non-Depreciable 36,900,000 - - - 36,900,000 Depreciable:

Leasehold interest 48,783,242 - - - 48,783,242 Buildings 9,490,442 669,522 - - 10,159,964 Improvements (airport and runway) 14,807,746 - - - 14,807,746 Equipment 323,135 - - - 323,135 Total Depreciable 73,404,565 669,522 - - 74,074,087 Less Accumulated Depreciation
Leasehold interest (7,986,460) (975,665) - - (8,962,125) Buildings (5,687,422) (277,547) - - (5,964,969) Improvements (airport and runway) (9,170,301) (439,491) - - (9,609,792) Equipment (305,553) (7,322) - - (312,875) Total Accumulated Depreciation (23,149,736) (1,700,025) - - (24,849,761) Total Depreciable Capital Assets - Net 50,254,829 (1,030,503) - - 49,224,326 Total Business Type - Capital Assets 87,154,829$ (1,030,503)$ -$ -$ 86,124,326$

NOTE 7 - NONCURRENT LIABILITIES

The City's noncurrent liabilities consisted of the following as of June 30, 2022:

Due
Beginning Adjustment/ Ending Within One
Long-term Liabilities Balance Additions Deletions Balance Year Governmental Activities:
2015 General Obligation Refunding Bonds 6,710,000$ -$ (280,000)$ 6,430,000$ 295,000$ 2016 Abrams B Housing Revenue Bonds 9,565,000 - (450,000) 9,115,000 465,000 Leases 596,341 275,212 (261,695) 609,858 308,982 Net Pension Liabilities 22,951,345 26,556,863 (36,198,918) 13,309,290 - Total OPEB Obligation 6,663,215 1,043,282 (1,539,440) 6,167,057 - Compensated Absences 1,581,280 418,563 (395,320) 1,604,523 401,131 Total Governmental Activities 48,067,181$ 28,293,920$ (39,125,373)$ 37,235,728$ 1,470,113$ Business-Type Activities
Berkeley Capital Loan 35,950,000$ -$ -$ 35,950,000$ -$ Total Business-Type Activities 35,950,000$ -$ -$ 35,950,000$ -$

EXHIBIT A
79 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Due
Beginning Adjustment/ Ending Within One
Long-term Liabilities Balance Additions Deletions Balance Year Fiduciary Funds:

Tax Allocation Bonds:

FORA Series 2020 30,705,000$ -$ (1,260,000)$ 29,445,000$ 1,415,000$ RDA SA, Series 2000A 350,000 - (30,000) 320,000 30,000 RDA SA, Series 2018A 6,320,000 - (225,000) 6,095,000 235,000 RDA SA, Housing Series 2018B 6,020,000 - (215,000) 5,805,000 225,000 RDA SA, Series 2020A 4,790,000 - - 4,790,000 90,000 RDA SA, Housing Series 2020B 4,950,000 - (130,000) 4,820,000 135,000 Subtotal Tax Allocation Bonds 53,135,000 - (1,860,000) 51,275,000 2,130,000 Bond discounts (214,935) - 23,882 (191,053) - Bond premiums 1,874,790 - (87,723) 1,787,067 - Total Fiduciary Funds 54,794,855$ -$ (1,923,841)$ 52,871,014$ 2,130,000$

2015 General Obligation Refunding Bonds
In May 2015, the City issued $ 7,640,000 General Obligation Bonds for the purpose of refunding $7,885,000 of the City's General Obligation Bonds, Election of 2002, Series 2005 which was issued for the purpose of constructing and supplying a library facility in the City. The bonds bear interest at 1.5% to 5%. The bonds mature in August 2035. Principal payments of $ 85,000 to $ 605,000 are due annually on August 1. Interest payments are due semi -annually on February 1 and August 1. The Bonds are subject to an early redemption at par at the option of the City after August 2025.

The City accounts for the bonds in its governmental activities and uses taxes and assessments reported in a debt service fund to fund the principal and interest payments. Future debt service payments are as follows:

Fiscal Year Ending June 30: Principal Interest Total
2023 295,000$ 227,531$ 522,531$
2024 315,000 216,706 531,706
2025 340,000 200,332 540,332
2026 370,000 182,581 552,581
2027 400,000 163,332 563,332
2028-2032 2,410,000 590,982 3,000,982
2033-2036 2,300,000 162,760 2,462,760
Total 6,430,000$ 1,744,224$ 8,174,224$

Remarketed 2016 Abrams B Housing Revenue Bonds
In November 2006, the City issued $ 14,360,000 Multi-family Housing Revenue Bonds for the purpose of financing the acquisition of the Abrams B Apartments. These bonds were remar keted in November 2016.

The bonds bear interest at 0.95% to 3.55%. The bonds mature in November 2036. Principal payments of $110,000 to $160,000 are due annually on November 1. Interest payments are due semi -annually on May 1 and November 1. Beginning on November 15, 2023, the bonds have an optional redemption price of 102%, declining to 101% on November 15, 2024, and at par on November 15, 2025 and thereafter.

EXHIBIT A
80 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

The City accounts for the bonds in its governmental activities and accounts for the revenue debt service in the Abrams B Debt Service Fund. Future debt service payments are as follows:

Fiscal Year Ending June 30: Principal Int erest Total
2023 465,000$ 277,723$ 742,723$
2024 475,000 268,905 743,905
2025 490,000 258,888 748,888
2026 505,000 247,813 752,813
2027 790,000 235,505 1,025,505
2028-2032 3,040,000 883,830 3,923,830
2033-2037 3,350,000 306,188 3,656,188
Total 9,115,000$ 2,478,852$ 11,593,852$

Leases
In fiscal year 201 9, the City entered into a lease agreement in the amount of $ 663,156 at 4.52% for the right to use radio equipment. Annual principal and interest payments of $ 185,348 are due through July 2022.

In fiscal years 2020 and 2021, the City entered into lease agreements totaling $277,704 for the right to use vehicles. Annual principal and interest payments of $68,114 are due through fiscal year 2025.

In fiscal year 2022, the City entered into lease agreements totaling $275,212 for the right to use vehicles.

Annual principal and interest payments of $63,687 are due through fiscal year 2027.

The City accounts for its leases in its governmental activities and uses resources from the General Fund to pay the principal and interest payments. Future debt service payments are as follows:

Fiscal Year Ending June 30: Principal Interest Tot al
2023 308,982 8,167 317,149$
2024 131,801 - 131,801
2025 109,129 - 109,129
2026 41,185 - 41,185
2027 18,761 - 18,761
Total 609,858$ 8,167$ 618,025$

Equipment and related accumulated amortization under the financed purchases are as follows:

Leased Right of Use Assets 1,216,072$
Accumulated Depreciation (783,396)
Net Book Value 432,676$

Business-Type Activities

Preston Park Loan
On January 7, 2016, the Preston Par k Sustainable Community Non-profit Corporation entered into a loan agreement in the amount of $35,950,000 at 4.15% to finance the costs of acquisition of a leasehold interest in property of Preston Park Apartments. The loan is a full-term interest only loan with the entire principal balance due on February 1, 2026.

EXHIBIT A
81 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Interest payments are made through January of 2026 without an early redemption option. Future debt service payments are as follows:

Fiscal Year Ending June 30: Principal Interest Total
2023 -$ 1,512,646$ 1,512,646$
2024 - 1,516,790 1,516,790
2025 - 1,516,790 1,516,790
2026 35,950,000 1,011,194 36,961,194
Total 35,950,000$ 5,557,420$ 41,507,420$

Fiduciary Fund Tax Allocation Bonds

Fort Ord Reuse Authority (FORA) Tax Allocation Bonds, Series 2020 In June 2020, the FORA issued $30,705,000 of tax allocation bonds, Series 2020. The proceeds of the Series 2020 bonds w ill be used to fund building removal costs for various public agencies related to property formerly included in the Fort Ord Military Base, provide funds to satisfy an obligation of the Authority to CalPERS, set-up debt service reserves, set -up administrative accounts, pay insurance premiums related to the bonds and cover bond issuance costs The bonds bear annual interest at 1.151% to

3.307%. Principal and interest is paid semi -annually on March 1st and September 1st. The bonds mature September 1, 2037 in amounts ranging from $1,260,000 to $1,765,000.

Tax Allocation Bonds, Neeson Road
In November 2000, the former RDA issued $700,000 of tax allocation bonds, Series A. The proceeds of the 2000 Series A bonds issued were used fund infrastructure redevelopment activities at the Marina Airport. The bonds bear annual interest at 4.75 %. The bonds were issued in fully registered form without coupons in denominations of $5,000. Interest is paid semi-annually, on January 1st and July 1st. Principal is paid in annual installments beginning January 1, 2018 and maturing January 1, 2031 in amounts ranging from $10,000 to $45,000.

Tax Allocation Bonds, 2018 Series A (Taxable) and Series B (Tax Exempt) In 2018, the former RDA issued $4,750,000 of tax allocation bonds, Series A (Taxable) and Series B (Tax Exempt). A total of $6,905,000 of Series A bonds were issued and $ 6,585,000 of Series B bonds. The proceeds of the 2018 Series A bonds issued were used to make payment on a promiss ory note and agreement, dated August 5, 2008 of the former Marina Redevelopment Agency for the benefit of Marina Community Partners.

The bonds bear annual interest at 5 %. The bonds were issued in fully registered form without coupons in denominations of $5 ,000. Interest is annually, due on September 1st. Principal is paid in annual installments beginning September 1, 2018 and ending September 1, 2038 in amounts ranging from $165,000 to $515,000. The proceeds of the 2018 Series B bonds issued were used to repay a significant portion of the loans from the City of Marina to the Agency. The bonds bear annual interest at 5% . The bonds were issued in fully registered form without coupons in denominations of $ 5,000. Interest is annually, due on September 1st. Principal is paid in annual installments beginning September 1, 2018 and ending September 1, 2038 in amounts ranging from $165,000 to $515,000.

Tax Allocation Bonds, Series 2020A
In August 2020, the former RDA issued $4,790,000 of tax allocation bonds, Series 2020A. The proceeds of the 2020 Series A bonds issued were used to mak e payment on the aforementioned promissory note and agreement, dated August 5, 2008 of the former Marina Redevelopment Agency for the benefit of

EXHIBIT A
82 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Marina Community Partners. The bon ds bear annual interest at 4.00 %. The bonds were issued in fully registered form without coupons in denominations of $ 5,000. Interest is paid semi-annually, on March 1st and September 1st. Principal is paid in annual installments beginning September 1, 2022 and maturing September 1, 2035.

Housing Tax Allocation Bonds, Series 2020B
In August 2020, the former RDA issued $4,950,000 of housing tax allocation bonds, Series 2020B. The proceeds of the 2020 Series B bonds issued were used to ma ke payment on the af orementioned promissory note and agreement, dated August 5, 2008 of the former Marina Redevelopment Agency for the benefit of Marina Community Partners. The bonds bear annual interest at 4.00% . The bonds were issued in fully registered form without coupons in denominations of $5,000. Interest is paid semi - annually, on March 1st and September 1st. Principal is paid in annual installments beginning September 1, 2021 and maturing September 1, 2040.

The annual debt service requirements for the Tax Allocation Bonds are as follows:

Fiscal Year Ending June 30: Principal Interest Total
2023 2,130,000$ 1,795,899$ 3,925,899$
2024 2,190,000 1,742,933 3,932,933
2025 2,245,000 1,685,228 3,930,228
2026 2,335,000 1,622,487 3,957,487
2028 2,825,000 1,553,614 4,378,614
2029-2032 15,515,000 6,323,117 21,838,117
2033-2037 15,160,000 3,545,484 18,705,484
2038-2041 8,875,000 826,560 9,701,560 Total 51,275,000$ 19,095,322$ 70,370,322$

The Successor Agency fiduciary funds account for activity of the Successor Agency of the Marina Redevelopment Agency. In 2012, the State of California dissolved Redevelopment Agencies and created Successor Agencies to extinguish debts of the Redevelopment Agencies. The Marina Successor Agency is required by a Development and Disposition Agreement (DDA) to issue debt to repay the Dunes Corporation amounts owed in the DDA. This debt is fully funded by a commitment from the State of California as specified in the Dissolution Act.

NOTE 8 - RISK MANAGEMENT

The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters for which the City obtains insurance coverages.

The City purchases liability, property, errors and omissions, and wor kers' compensation insurance from the Monterey Bay Area Self Insurance Authority (MBASIA), a risk-sharing program. Under this program, coverage is provided for up to a maximum of $ 29,000,000 for each general liability claim less the City' s deductible of $ 10,000. Statutory coverage is provided for wor kers' compensation claims. The City is assessed a contribution to cover claims, operating costs, and claim settlement expenses based upon an actuarially determined rate for each coverage layer pool Additional cash contributions may be assessed on the basis of adverse loss experience. If the events of the year result in a negative risk position, the members' annual assessment may be increased in subsequent years. The City is unable to reasonably estimate the probability of MBASIA ending the year in a negative risk position. Refunds to members may

EXHIBIT A
83 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

be made if funds are determined to be surplus as a result of an actuarial study.

The City currently reports liability ris k management activities in the general fund. Claims expenditures and liabilities are reported when it is probable that a loss has occurred and the amount of that loss can be reasonably estimated. W orkers compensation insurance costs are allocated to various departments proportionate to their total payroll. For the year ended June 30, 2022, the City paid a total of $ 1,547,720 to MBASIA for insurance coverage; $ 648,895 and $ 898,825 for liability and wor kers compensation insurance, respectively and did not receive a rebate from the program. There were no material unpaid and uninsured claims outstanding at the beginning or end of the last two fiscal years.

NOTE 9 - RETIREMENT PLANS

General Information about the Pension Plans

Plan Description
All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost - Sharing Multiple -Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees’ Retirement System (CalPERS). The Plan consists of individual rate plans (benefit tiers) within a safety risk pool (police and fire) and a miscellaneous risk pool (all other.) Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous risk pools. Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under GASB Statement No. 68 .

Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The City sponsors three miscellaneous rate plans. Benefit provisions under the Plan are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.

Benefits Provided
CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full -time employment. Members with five ye ars of total service are eligible to retire at age 50 (age 52 for Miscellaneous Plan members if membership date is on or after January 1, 2013) with statutorily reduced benefits. All members are eligible for non -duty disability benefits after 5 years of service. The death benefit is one of the following: the Special Death Benefit (Safety only), the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2 W Death Benefit. The cost-of-living adjustments for each plan are applied as specif ied by the Public Employees ’ Retirement Law.

EXHIBIT A
84 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

The Plans’ provisions and benefits in effect at June 30, 2022, are summarized as follows:

Tier 1 PEPRA Tier 1 PEPRA
Benefit formula 2% @ 55 2% @ 62 3.0% @ 50 2.7% @ 57
Benefit vesting schedule 5 Years 5 Years 5 Years 5 Years Benefit payments Monthly for Life Monthly for Life Monthly for Life Monthly for Life Retirement age 55 62 50 57
Monthly benefits as a
% of eligible compensation 2% 2% 3% 2.7%
Required employee contribution rates 7% 6.75% 9% 13%
Required employer contribution rates 10.9% 7.59% 23.71% 13.13% Miscellaneous Safety

Employees Covered
At June 30, 2022, the following employees were covered by the benefit terms for the Plans:

Miscellaneous Safety Total
Activ
e 42 54 96
Transferred 15 34 49 Separated 26 18 44 Retired 78 81 159 Total 161 187 348

Contributions
Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rates are the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. For the year ended June 30, 2022, the City’s contributions were as follows:

Employer
Contributions
Miscellaneous 837,830$
Safety 2,302,923
Total Employer Contributions 3,140,753$

EXHIBIT A
85 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions

As of June 30, 2022, the City reported a net pension liability for its proportionate share of the net pension liabilities as follows:

Miscellaneous
Safety
Total
Proportionate Share of
Net Pension
Liability/(Asset)
$ 3,826,377
9,482,913
$ 13,309,290

The City’s net pension liability for the Plans is measured as the proportionate share of the net pension liability. The net pension liability of the Plan s are measured as of June 30, 2021, and the total pension liability for the Plans used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2020 rolled forward to June 30, 2021 using standard update procedures. The City’s proportion of the net pension liability was based on a projection of the City ’s long-term share of contributions to the pension plans relative to the projected contributions of all participating e mployers, actuarially determined. The City’s proportionate share of the net pension liability for the Plans as of June 30, 2021 and 2021 was as follows:

Misc Safety Plan Total
Proportion - June 30, 2021 0.21094% 0.24173% 0.21094%
Proportion - June 30, 2022 0.24609% 0.27021% 0.24609%
Change - Increase/(Decrease) 0.03515% 0.02848% 0.03515%

For the year ended June 30, 2022, the City recognized pension expense of $2,601,074.

At June 30, 2022 , the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Changes of Assumptions -$ -$
Differences between Expected and Actual Experience 429,087 - Differences between Projected and Actual Investment Earnings - 3,340,225 Differences between Employer's Contributions and
Proportionate Share of Contributions - 246,451 Change in Employer's Proportion 238,654 -
Pension Contributions Made Subsequent to Measurement Date 837,830 - Total 1,505,571$ 3,586,676$
Miscellaneous

EXHIBIT A
86 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Changes of Assumptions -$ -$
Differences between Expected and Actual Experience 1,620,147 - Differences between Projected and Actual Investment Earnings - 5,644,156 Differences between Employer's Contributions and
Proportionate Share of Contributions - 894,878 Change in Employer's Proportion 784,313 -
Pension Contributions Made Subsequent to Measurement Date 2,302,923 - Total 4,707,383$ 6,539,034$
Safety

The City reported $3,140,753 as deferred outflows of resources related to contributions subsequent to the measurement date that will be recognized as a reduction of the net pension liability in the year ended June 30, 2023. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Miscellaneous Safety Total
(613,464)$ (607,245)$ (1, 220,709)$
(626,238) (816,665) (1,442,904)
(756,167) (1,157,471) (1,913,638)
(923,066) (1,553,193) (2,476,259)
- - -
- - -
(2,918,935)$ (4,134,574)$ (7,053,510)$
Deferred Outflows/(Inflows) of
Resources
Fiscal Year
Ending June 30:
2023
Total
2024
2025
2026
Thereafter
2027

Actuarial Assumptions
The total pension liabilities in the June 30, 2020 actuarial valuations were determined using the following actuarial assumptions:

Valuation Date June 30, 2020
Measurement Date June 30, 2021
Actuarial Cost Method Entry-Age Normal
Cost Method
Actuarial Assumptions:

Discount Rate 7.00%
Inflation 2.50%
Payroll Growth 2.75%
Projected Salary Increase (1)
Investment Rate of Return 7.00% (2)
Mortality (3)
(1) Varies by entry age and service
(2) Net of pension plan investment expenses, including inflation (3) Derived using CalPERS' membership data for all funds

EXHIBIT A
87 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Discount Rate
The discount rate used to measure the total pension liability was 7.15% for the Plan. To determine whether th e municipal bond rate should be used in the calculation of a discount rate for the Plan, CalPERS stress tested plans that would most likely result in a discount rate that would be different from the actuarially assumed discount rate. Based on the testing, none of the tested plans run out of assets.

Therefore, the current 7.15 percent discount rate is adequate and the use of the municipal bond rate calculation is not necessary. The long term expected discount rate of 7.15 percent will be applied to all plans in the Public Employees Retirement Fund (PERF). The stress test results are presented in a detailed report that can be obtained from the CalPERS website.

The long-term expected rate of return on pension plan investments was determined using a building block method in which best -estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, CalPERS took into account both short -term and long-term market return expectations as well as the expected pension fund cash flows. Using historical returns of all the funds’ asset classes, expected com pound returns were calculated over the short -term (first 10 years) and the long-term (11-60 years) using a building-block approach. Using the expected nominal returns for both short -term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short -term and long- term returns. The expected rate of return was then set equivalent to the single equivalent rate calculated above and rounded down to the nearest one quarter of one percent. The table below reflects the long-term expected real rate of return by asset class. The rate of return was calculated using the capital market assumptions applied to determine the discount rate and asset allocation. These rates of return are net of administrative expenses.

Assumed Asset Real Return Real Return
Asset Class (a) Alloc ation Years 1 - 10 (b) Years 11+ (c) Global Equity 50.00% 4.80% 5.98%
Fixed Income 28.00% 1.00% 2.62%
Inflation Sensitive 0.00% 0.77% 1.81%
Private Equity 8.00% 6.30% 7.23%
Real Estate 13.00% 3.75% 4.93%
Liquidity 1.00% 0.00% -0.92%
Total 100.00%
(a) In the System's ACFR, Fixed Income is included in Global Debt Securities; Liquidity Liquidity is included in Short-term Investments; Inflation Assets are included in both Global Equity Securities and Global Debt Securities.
(b) An expected inflation of 2.0% used for this period. (c) An expected inflation of 2.92% used for this period.

EXHIBIT A
88 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate The following presents the City ’s proportionate share of the net pension liability for the Plans, calculated using the discount rate for the Plans, as well as what the City ’s proportionate share of the net pension liability would be if it were calculated u sing a discount rate that is 1 -percentage point lower or 1- percentage point higher than the current rate:

Miscellaneous Safety Total Plan
1% Decrease 6.15% 6.15% 6.15%
Net Pension Liability 7,731,264$ 18,062,288 25,793,552$ Current 7.15% 7.15% 7.15%
Net Pension Liability 3,826,377$ 9,482,913 13,309,290$ 1% Increase 8.15% 8.15% 8.15%
Net Pension Liability 598,263$ 2,436,015 3,034,278$

Pension Plan Fiduciary Net Position
Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.

NOTE 10 - OTHER POSTEMPLOYMENT BENEFITS PLAN

Plan Description
The City of Marina participates in the California Public Employees Retirement System (CalPERS), a cost-sharing multiple employer public employee defined benefit pension plan. CalPERS provides post - employment medical insurance benefits to retirees and their spouses who meet plan eligibility requirements in accordance with their labor agreement. The City provides health care benefits for all retired employees based on retirement age of 50 with 5 years of service. Retirees can enroll in any of the available CalPERS medical plans and the benefits continue for the life of the retiree and surviving spouse.

The City contributes the minimum amount provided under Government Code Section 22825 of the Public Employees Medical and Hospital Care Act. Retirees must pay any premium amounts in excess of the City's contribution. For each bargaining unit, the minimum amount the City contributes is pro-rated over the 20-year period starting from that unit's CalPERS coverage.

The City has authority to establish and amend the Plan's benefit terms and financing requirements to the City Council. No assets are accumulated in a trust that meets all of the criteria in GASB statement No. 75 Paragraph 4. There are no separate financial statements issued for the OPEB plan.

Employees Covered by Benefit Terms
At June 30, 2022, the benefit terms covered the following employees:

Active employees 82
Inactive employees 23
Dep
endents of Retirees 11
Total covered 116

EXHIBIT A
89 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Contributions
The City makes contributions based on a pay -as-you-go basis as approved by the authority of the City Council. Total benefit payments included in the measurement period were $ 80,621 while actual contributions for the fiscal year were $ 98,138. The actuarially determined contribution for the measurement period was $383,005 . The City’s contributions were 1.05 % of covered employee payroll during the fiscal year ended June 30, 2022. Employees are not required to contribute to the plan. There have been no assets accumulated in a trust to provide for the benefits of this plan.

Actuarial Assumptions
The following summarized the actuarial assumptions for the OPEB plan included in this fiscal year:

Valuation Date: June 30, 2021
Measurement Date: June 30, 2021
Actuarial Cost Method: Entry-Age Normal Cost Method
Amortization Period: 20 years
Asset Valuation Method:

Actuarial Assumptions:

Discount Rate 2.16%
Inflation 2.26%
Salary Increases 3.25%
Healthcare Trend Rate
Mortality
Retirement:

Hired before January 1, 2013
Hired on or after January 1, 2013:
**Discount rate decreased in 2022 from 2.21% to 2.16%
2% @55 Rates for Miscellaneous Employees
3% @50 for Police and Fire
2% @62 for Miscellaneous Employees.

2.7% @57 for Police and Fire.

Level percentage of payroll, closed
CalPERS 2017 Mortality

4% to 7.52%

Discount Rate
The discount rate was based on the Bond Buyer 20 -bond General Obligation Index.

Total OPEB Liability
The City's Total OPEB liability was measured as of June 30, 20 21 (measurement date) and was determined by an actuarial valuation as of June 30, 20 21 (valuation date) for the fiscal year ended June 30, 2022 (reporting date).

EXHIBIT A
90 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Changes in the Total OPEB Liability
The following summarizes the changes in the Total OPEB liability during the year ended June 30, 2022:

Fiscal Year Ended June 30, 2022
Total OPEB
Liability
Plan Fiduciary
Net Position
Net OPEB
Liability
(Asset)
Balance at June 30, 2021 6,663,215$ -$ 6,663,215$ Service cost 394,958 - 394,958 Interest in Total OPEB Liability 155,100 - 155,100 Balance of diff between actual and exp experience (1,155,928) - (1,155,928) Balance of changes in assumptions 190,330 - 190,330 Benefit payments (80,621) - (80,621) Net changes (496,161) - (496,161) Balance at June 30, 2022 6,167,054$ -$ 6,167,054$ Covered Employee Payroll 9,361,845$
Total OPEB Liability as a % of Covered Employee Payroll 65.87% Service Cost as a % of Covered Employee Payroll 4.22%
Net OPEB Liability as a % of Covered Employee Payroll 65.87%

The City’s plan is nonfunded, meaning there have not been assets placed into an irrevocable trust, therefore the plan fiduciary net position is zero.

Deferred Inflows and Outflows of Resources
At June 30, 2022 , the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Deferred
Outflows of
Res
ources
Deferred
Inflows of
Res
ources
Difference between actual and expected experience 243,891$ 1,042, 616$ Change in assumptions 1,299,137 789,126
OPEB contribution subsequent to measurement date 98,138 - Totals 1,641,166$ 1,831,742$

Of the total amount reported as deferred outflows of resources related to OPEB, $ 98,138 resulting from City contributions subsequent to the measurement date a nd before the end of the fiscal year will be included as a reduction of the net OPEB liability in the year ended June 30, 202 3.

EXHIBIT A
91 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

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

Year Ended June 30,
2023 (114,926)$
2024 (114,926)
2025 (114,926)
2026 (51,324)
2027 78,492
Thereafter 28,896
Total (288,714)$

OPEB Expense
The following summarizes the OPEB expense by source during the year ended June 30, 2022 :

Service cost 394,958$
Interest in T
OL 155,100
Difference between actual and expected experience (96,185) Change in assumptions (18,741)
OPEB Expense 435,132$

The following summarizes changes in the Total OPEB liability as reconciled to OPEB expense during the year ended June 30, 2022:

6,167,054$
(6,663,215)
(496,161)
Changes in deferred outflows (998,589)
Changes in deferred inflows 1,831,744
Employer contributions and implicit subsidy 98,138
OPEB Expense 435,132$
Net OPEB liability ending
Net OPEB liability beginning
Change in net OPEB liability

Sensitivity to Changes in the Discount Rate
The Total OPEB liability of the City, as well as what the City's Total OPEB liability would be if it were calculated using a discount rate that is one percentage point lower or one percentage point higher, is as follows:

(1% Decrease ) 2.16% (1% Increase )
Net OPEB Liability (Asset) 7,509,081$ 6,167,054$ 5,132,427$ Discount Rate

EXHIBIT A
92 City of Marina
Notes to the Basic Financial Statements
June 30, 2022

Sensitivity to Changes in the Healthcare Cost Trend Rates The Total OPEB liability of the City, as well as what the City's Total OPEB liability would be if it were calculated using healthcare cost trend rates that are one percentage point lower or one percentage point higher than current healthcare cost trend rates, is as follows:

(1% Decrease ) 4% to 7.52% (1% Increase )
Net OPEB Liability (Asset) 4,969,506$ 6,167, 054$ 7,779,840$ Trend Rate

NOTE 11 - COMMITMENTS AND CONTINGENCIES

Lawsuits
The City is subject to certain matters of litigation that may arise in the normal course of conducting City business. City management believes, based upon consultation with legal counsel, that these cases, in the aggregate, are not expected to result in a material adverse financial impact on the City . Additionally, City management believes that the City's insurance programs are sufficient to cover any potential losses should an unfavorable outcome materialize.

Federal and State Grant Programs
The City participates in Federal and State grant programs. These programs are audited by the City 's independent accountants if required by and in accordance with the provisions of the Uniform Guidance and applicable State requirements. Expenditures which may be disallowed, if any, by the granting agencies, cannot be determined at this time. The City expects such amounts, if any, to be immaterial.

Deferred Compensation
The City offers its employees two deferred compensation plans created in accordance with California Code Section 53212 and Internal Revenue Code Section 457 under which employees can defer a portion of their salary until future years. The deferred compensation plan money is a deduction from the employees' salary and is invested with independent retirement trustees. The trustees hold the amounts deferred and any related income on behalf of employees. The assets and liabilities of these plans have been excluded from the accompanying financial statements.

EXHIBIT A
93 This page is intentionally blank

EXHIBIT A
94 REQUIRED SUPPLEMENTARY INFORMATION

EXHIBIT A
95 This page is intentionally blank

EXHIBIT A
96 City of Marina
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual (GAAP Basis)
General Fund
For the Year Ended June 30, 2022
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Taxes and assessments 15,207,377$ 17,127,100 $ 25,134,454 $ 8,007,354 $ Licenses, permits and fees 2,091,500 2,091,500 2,721,385 629,885 Fines and forfeitures 63,050 63,050 109,348 46,298 Intergovernmental 675,700 1,192,780 1,159,983 (32,797) Charges for services 1,565,335 1,565,335 4,701,964 3,136,629 Investment earnings 330,000 330,000 164,114 (165,886) Local contributions 42,500 160,645 136,395 (24,250) Other revenue 6,940 125,085 213,124 88,039 Total Revenues 19,982,402 22,655,495 34,340,767 11,685,272

EXPENDITURES
Current:

General government 7,885,981 7,885,981 6,730,491 1,155,490 Public safety 11,695,000 12,448,370 12,800,633 (352,263) Public works 1,952,679 1,952,679 1,481,249 471,430 Economic & community development 2,947,240 2,947,240 3,047,113 (99,873) Recreation & cultural services 1,168,303 1,168,303 910,339 257,964 Capital outlay 710,000 710,000 329,612 380,388 Debt service
Principal 162,000 162,000 261,695 (99,695) Interest and fiscal charges 24,000 24,000 51,166 (27,166) Total Expenditures 26,545,203 27,298,573 25,612,298 1,686,275 Excess (Deficiency) of Revenues over Expenditures (6,562,801) (4,643,078) 8,728,469 13,371,547

OTHER FINANCING SOURCES (USES)
Transfers in 4,123,102 3,223,102 240,946 (2,982,156) Transfers out (10,782,000) (11,278,220) (10,373,220) 905,000 Sale of capital assets - - 6,323,477 6,323,477 Total Other Financin
g Sources (Uses) (6,658,898) (8,055,118) (3,808,797) 4,246,321

Net Change in Fund Balance (13,221,699) (12,698,196) 4,919,672 17,617,868

Fund Balance Beginning 27,128,836 27,128,836 27,128,836 - Prior Period Adjustments - Cash Allocations 342,326 342,326 342,326 - Fund Balance Beginning, as Adjusted 27,471,162 27,471,162 27,471,162 -

Fund Balance Ending 14,249,463$ 14,772,966$ 32,390,834$ 17,617,868$

The City adopts a budget annually for all governmental fund types. This budget is effective July 1 for the ensuing fiscal year.

From the effective date of the budget, which is adopted at the fund level, the amounts stated therein as proposed expenditures become appropriations to the various City departments. The legal level of budgetary control is the fund level. The City Council may amend the budget by resolution during the fiscal year. The City Manager has the authority to make adjustments to the operating budget between functions within the same fund. Transfers of operating budgets between funds, use of unappropriated fund balances, and significant changes in capital improvement project budgets require the approval of the City Council.

Expenditures in excess of appropriations were covered by budgets in other objects/functions or beginning fund balance.

EXHIBIT A
97 City of Marina
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual (GAAP Basis)
FORA Dissolution Fund
For the Year Ended June 30, 2022
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Licenses, permits and fees -$ - $ 8,157,290$ 8,157,290 Intergovernmental - - 4,470 4,470 Investment earnings - - 47,455 47,455 Total Revenues - - 8,209,215 8,209,215

EXPENDITURES
Current:

Economic & community development 7,250,000 7,250,000 526,427 6,723,573 Total Expenditures 7,250,000 7,250,000 526,427 6,723,573 Excess (Deficiency) of Revenues over Expenditures (7,250,000) (7,250,000) 7,682,788 14,932,788

OTHER FINANCING SOURCES (USES)
Transfers out (3,500,000) (3,500,000) (3,527,396) (27,396) Debt issuance - - - - Total Other Financing Sources (Uses) (3,500,000) (3,500,000) (3,527,396) (27,396)

Net Change in Fund Balance (10,750,000) (10,750,000) 4,155,392 14,905,392

Fund Balance Beginning 11,350,071 11,350,071 11,350,071 - Prior Period Adjustments - Cash Allocations 30 30 30 - Fund Balance Beginning, as Adjusted 11,350,101 11,350,101 11,350,101 -

Fund Balance Ending 600,101 $ 600,101 $ 15,505,493$ 14,905,392 $

EXHIBIT A
98 City of Marina
Schedule of Pension Contributions
June 30, 2022
(Last Ten Years)

Miscellaneous and Safety Plan
Fiscal Year Ended 2015 2016 2017 2018 2019 2020 2021 2022

Cont
ractually Required Contributions 1,428,070$ 2,069,732$ 2,385,218$ 2,524,388$ 2,050,095$ 2,739,136$ 2,885,118$ 3,140,753$ Contributions in Relation to Contractually
Required Contributions 1,428,070 2,069,732 2,385,218 2,524,388 2,050,095 2,739,136 2,885,118 3,140,753 Contribution Deficiency (Excess) -$ -$ -$ -$ -$ -$ -$ -$ Covered Payroll 7,233,320$ 6,987,956$ 7,070,353$ 7,637,741$ 7,411,028$ 8,281,259$ 9,003,748$ 6,244,060$ Contributions as a % of Covered Payroll 19.74% 29.62% 33.74% 33.05% 27.66% 33. 08% 32.04% 50.30% Notes to Schedule:

Valuation Date: June 30, 2020
Assumptions Used: Entry Age Method used for Actuarial Cost Method Level Percentage of Payroll and Direct Rate Smoothing

3.8 Years Remaining Amortization Period
Inflation Assumed at 2.50%
Investment Rate of Returns set at 7.00%
Fiscal year 2015 was the first year of implementation, therefore only eight years are shown.

The CalPERS discount rate was increased from 7.50% to 7.65% in fiscal year 2016, then to 7.15% in 2018.

The CalPERS mortality assumptions was adjusted in fiscal year 2019.

CalPERS mortality table based on CalPERS' experience and include 15 years of projected ongoing mortality improvement using 90 percent of Scale MP 2016 published by the Society of Actuaries.

EXHIBIT A
99 City of Marina
Schedule of Proportionate Share of Net Pension Liability June 30, 2022
(Last Ten Years)

Miscellaneous and Safety Plan
Fiscal Year Ended 2015 2016 2017 2018 2019 2020 2021 2022 Prop
ortion of Net Pension
Liability (Safety and Misc) 0.18297% 0.17995% 0.18715% 0.19055% 0.19679% 0.20287% 0.21094% 0.24609% Proportion of Net Pension
Liability (Misc Plan Only) 0.46068% 0.45021% 0.46616% 0.47937% 0.50318% 0.15555% 0.16231% 0.20152% Proportionate Share of
Net Pension Liability 11,385,528$ 12,351,371$ 16,193,904$ 18,897,109$ 18,963,346$ 20,787,955$ 22,951,344$ 13,309,290$ Covered Payroll 7,701,575$ 6,261,394$ 5,693,737$ 5,365,096$ 5,446,378$ 5,919,593$ 6,340,399$ 6,335,440$ Proportionate Share of NPL
as a % of Covered Payroll 147.83% 197.26% 284.42% 352.22% 348.18% 351.17% 361.99% 210.08% Plan's Fiduciary Net Position
as a % of the TPL 79.61% 77.38% 75.77% 74.66% 76.15% 75.40% 74.18% 85.74% Fiscal year 2015 was the first year of implementation, therefore only eight years are shown.

The CalPERS discount rate was increased from 7.50% to 7.65% in fiscal year 2016, then to 7.15% in 2018.

The CalPERS mortality assumptions was adjusted in fiscal year 2019.

EXHIBIT A
100
City of Marina
Schedule of Changes in Total OPEB Liability
June 30, 2022
(Last Ten Years)

Fiscal Year Ended 2018 2019 2020 2021 2022
Total OPEB liability
Service cost 271,072$ 200,224$ 195,708$ 264,281$ 394,958$ Interest 157,957 153,199 168,281 177,174 155,100 Differences between exp. and act. exp. (4,684) (27,347) 371,094 (5,518) (1,155,928) Changes of assumptions (1,590,885) (200,100) (14,726) 1,466,447 190,330 Benefit payments (22,911) (28,444) (76,872) (73,360) (80,621) Net change in Total OPEB Liability (1,189,451) 97,532 643,485 1,829,024 (496,161) Total OPEB Liability - beginning 5,282,625 4,093,174 4,190,706 4,834,191 6,663,215 Total OPEB Liability - ending 4,093,174 $ 4,190,706 $ 4,834,191 $ 6,663,215 $ 6,167,054$ Plan fiduciary net position
Net change in plan fiduciary net position -$ -$ -$ - - Plan fiduciary net position - beginning - - - - - Plan fiduciary net position - ending -$ -$ -$ -$ -$ Net OPEB liability (asset) 4,093,174 $ 4,190,706 4,834,191 6,663,215 6,167,054 Plan fiduciary net position as a percentage
of the total OPEB liability 0.00% 0.00% 0.00% 0.00% 0.00% Covered Employee Payroll 7,387,760 $ 7,635,928 $ 7,725,967 $ 8,315,617 $ 9,361,845$ Net OPEB liability as a percentage
of covered employee payroll 55.40% 54.88% 62.57% 80.13% 65.87% Total OPEB liability as a percentage
of covered employee payroll 55.40% 54.88% 62.57% 80.13% 65.87% Other Notes
There were no changes in benefit terms.

Discount rates decreased from 3.87% to 3.5% in 2020, then to 2.21% in 2021 and 2.16% in 2022.

There were no changes in trend rates
GASB 75 requires a schedule of contributions for the last ten fiscal years, or for as many years as are available if less than ten years are available. GASB 75 was adopted as of June 30, 2018.

EXHIBIT A
101
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EXHIBIT A
102

SUPPLEMENTARY INFORMATION

EXHIBIT A
103

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EXHIBIT A
104

NONMAJOR GOVERNMENTAL FUNDS

Special Revenue Funds

CDBG: Accounts for various U.S. Housing and Urban Development Department, Community Development Bloc k Grant, non -housing programs, including grant revenues, grant expenditures and program income.

CDBG Housing: Accounts for various U.S. Housing and Urban Development Department, Community Development Block Grant, housing programs.

Public Education Government: Accounts for franchise tax fees collected with cable television bills.

Fees collected through the cable provider finance the operating and capital costs of broadcasting City Council and other meetings of public interest over a dedicated TV channel.

Gas Tax Streets: Accounts for State gas tax revenues and occasional City cash and staffing contributions, and the costs of allowable streets maintenance and repair projects.

Road Maintenance and Rehabilitation (SB1): Accounts for funds received and expended specific to road maintenance and repairs.

Transportation Safety and Investment: Accounts for funds received and expended from sales tax Measure X to invest in roads throughout the County.

National Parks Recreation Services: Accounts for revenues generated by land and antenna rentals, and from various recreation activities conducted on the site, as well as costs for facilities improvements, repairs, maintenance, staffing and support costs related to recreational activities. All activities are conducted on property granted to the City upon Fort Ord Army Base Closure. Use of these resources is limited to recreation activities conducted on these premises.

ARPA Grant Fund: Accounts for gra nts received from the American Rescue Plan Act Corona Virus fiscal recovery programs.

Seabreeze Assessment District: Accounts for assessments collected from pro perty owners within the boundaries of the District, and related landscape maintenance costs.

Monterey Bay Estates Assessment District: Accounts for assessments collected from property owners within the boundaries of the District, and related landscape maintenance costs.

Cypress Cove II Assessment District: Accounts for assessments collected from property owners within the boundaries of the District, and related landscape maintenance costs.

CFD 2007- 2 Loc ke-Paddon: A Community Facilities District (CFD) accounts for annual assessments against property owners within the boundaries of the District and related improvement and maintenance costs.

CFD 2015-1 Dunes: A Community Facilities Districts (CFD) accounts for annual assessments against property owners within the boundaries of the District and related improvement and maintenance costs.

Housing Assistance Fund: Accounts for funds received and expended as part of Below Market Rate Housing Implementation Agreements. Use of these resources is limited to city -wide homebuyer

EXHIBIT A
105

NONMAJOR GOVERNMENTAL FUNDS

assistance as well as administrative costs associated with the establishment and implementatio n of a homebuyer assistance program.

Debt Service Funds

2015 GO Refunding Bonds: Accounts for tax revenues that provide resources to mak e bond princi pal and interest payments, and to pay costs of administering the 2015 general obligation refunding bonds, which refinanced the 2005 library construction general obligation bonds.

Marina Landing Bonds: Accounted for special assessment revenues, bond principal and interest payments, and debt administration costs. Bonds were originally issued to finance certain infrastructure improvements to properties in the Marina Landing Assessment. All bonds have been liquidated but the fund has a residual cash balance which will be disbursed and the fund deactivated when appropriate.

Marina Greens Bonds: Accounted for special assessment revenues, bond principal and interest payments, and debt administration costs. Bonds were originally issued to finance certain infrastructure improvements to properties in the Marina Greens Assessment District. All bonds have been liquidated but the fund has a residual cash balance which will be disbursed and the fund deactivated when appropriate.

Capital Projects Funds

Airport: This fund accounts for federal and state grant revenues, city -match and other resources that are dedicated and/or restricted to creating, expanding or otherwise improving infrastructure and other long- lived assets at the Marina Municipal Airport.

Park Facilities: Over a period of time, this fund has accounted for residential par k development taxes, park facility improvement fees, park facility use fees, mitigation fees for new development, pa rks in-lieu fees, grant revenues, private and public donations, antenna rents and other resources dedicated or restricted to the acquisition, construction and/ or improvement of par k and recreational facilities.

Resources in this fund were expended fo r their required purposes, and since implementation of Par ks Impact Fees ( accounted for in the Impact Fee Fund) the fund has become inactive. The small remaining cash balance will be transferred to the appropriate successor fund.

EXHIBIT A
106
City of Marina
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2022
Public
CDBG Education Gas
CDBG Housing Government Tax
Fund Fund Fund Fund
ASSETS
Cash and investments 291,657$ 36,518 $ 47,184 $ 4,116 $ Restricted cash and investments - - - - Accounts receivable 389 49 29,944 39,246 Notes receivable 547,000 60,000 - - Total assets 839,046$ 96,567$ 77,128$ 43,362$

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable - $ - $ 29,944$ 6,916$ Accrued payroll and benefits - - - 5,997 Total liabilities - - 29,944 12,913 Deferred Inflows of Resources:

Unavailable revenues 547,000 60,000 - - Fund Balances:

Restricted:

Transportation - - - - Streets & special districts - - - 30,449 Special projects and programs - - - - Housing - - - - Community development 292,046 36,567 - - Recreation - - - - Capital projects - - - - Debt service - - - -
Committed
Public education - - 47,184 - Unassigned - - - - Total fund balances 292,046 36,567 47,184 30,449 Total liabilities, deferred inflows of
resources and fund balances 839,046$ 96,567$ 77,128$ 43,362$ Cont'd
Special Revenue Funds

EXHIBIT A
107
City of Marina
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2022
ASSETS
Cash and investments
Restricted cash and investments
Accounts receivable
Notes receivable
Total assets

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll and benefits
Total liabilities
Deferred Inflows of Resources:

Unavailable revenues
Fund Balances:

Restricted:

Transportation
Streets & special districts
Special projects and programs
Housing
Community development
Recreation
Capital projects
Debt service
Committed
Public education
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
National
Road Transportation Parka Seabreeze
Maintenance & Safety & Recreation ARPA Assessment
Rehabilitation Investment Services Grant District
Fund Fund Fund Fund Fund
450,083$ 440,128 $ 309,566 $ 2,429,620 $ 1,197 $ - - - - - 39,916 491,552 402 3,242 - - - - 26,734 - 489,999$ 931,680$ 309,968$ 2,459,596$ 1,197$ - $ - $ - $ - $ 1,473$ - - 287 - - - - 287 - 1,473 - - - - - - 931,680 - - - 489,999 - - - - - - - 2,459,596 - - - - - - - - - - - - - 309,681 - - - - - - - - - - - - - - - - - - - - - (276) 489,999 931,680 309,681 2,459,596 (276) 489,999$ 931,680$ 309,968$ 2,459,596$ 1,197$ Cont'd
Special Revenue Funds

EXHIBIT A
108
City of Marina
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2022
ASSETS
Cash and investments
Restricted cash and investments
Accounts receivable
Notes receivable
Total assets

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll and benefits
Total liabilities
Deferred Inflows of Resources:

Unavailable revenues
Fund Balances:

Restricted:

Transportation
Streets & special districts
Special projects and programs
Housing
Community development
Recreation
Capital projects
Debt service
Committed
Public education
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances

Monterey Cypress CFD
Bay Estates Cove II 2007-2 CFD
Assessment Assessment Locke- 2015-1 Housing
District District Paddon Dunes Assistance
Fund Fund Fund Fund Fund
17,015$ 8,499 $ 24,064 $ 948,084 $ 1,802,509 $ - - - - - 23 12 31 1,251 2,405 - - - - - 17,038$ 8,511$ 24,095$ 949,335$ 1,804,914$ 1$ 1$ 37$ 1,290$ - $ - - - - - 1 1 37 1,290 - - - - - - - - - - - 17,037 8,510 24,058 948,045 - - - - - - - - - - 1,804,914 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 17,037 8,510 24,058 948,045 1,804,914 17,038$ 8,511$ 24,095$ 949,335$ 1,804,914$ Cont'd
Special Revenue Funds

EXHIBIT A
109
City of Marina
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2022
ASSETS
Cash and investments
Restricted cash and investments
Accounts receivable
Notes receivable
Total assets

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll and benefits
Total liabilities
Deferred Inflows of Resources:

Unavailable revenues
Fund Balances:

Restricted:

Transportation
Streets & special districts
Special projects and programs
Housing
Community development
Recreation
Capital projects
Debt service
Committed
Public education
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
2015 Marina Marina
GO Landing Greens
Refunding Improvement Improvement
Bonds Bonds Bonds
Fund Fund Fund
-$ -$ -$
453,259 7,091 1,714 555 9 2 - - -
453,814$ 7,100$ 1,716$
-$ -$ -$
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
453,814 7,100 1,716 - - -
- - -
453,814 7,100 1,716 453,814$ 7,100$ 1,716$
Cont'd
Debt Service Funds

EXHIBIT A
110
City of Marina
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2022
ASSETS
Cash and investments
Restricted cash and investments
Accounts receivable
Notes receivable
Total assets

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll and benefits
Total liabilities
Deferred Inflows of Resources:

Unavailable revenues
Fund Balances:

Restricted:

Transportation
Streets & special districts
Special projects and programs
Housing
Community development
Recreation
Capital projects
Debt service
Committed
Public education
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
Measure X Airport Total
Road and Capital Park Nonmajor
Transportation Projects Facilities Governmental
Fund Fund Fund Funds
4,935,449$ 974,171$ 862$ 12,720,722$ - - - 462,064 7,938 1,524 - 618,490 - - - 633,734 4,943,387$ 975,695$ 862$ 14,435,010$ 21,907$ 17,108$ -$ 78,677$ - - - 6,284 21,907 17,108 - 84,961 - - - 607,000 - - - 931,680 - - - 1,518,098 - - - 2,459,596 - - - 1,804,914 - - - 328,613 - - - 309,681 4,921,480 958,587 862 5,880,929 - - - 462,630 - - - 47,184 - - - (276) 4,921,480 958,587 862 13,743,049 4,943,387$ 975,695$ 862$ 14,435,010$ Concluded
Capital Projects Funds

EXHIBIT A
111
City of Marina
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2022
Public
CDBG Education Gas
CDBG Housing Government Tax
Fund Fund Fund Fund

REVENUES
Taxes and assessments -$ - $ 120,821$ 502,362$ Intergovernmental - - - - Charges for services - - - - Investment earnings 928 9,270 - 40 Other revenue - - - 7,686 Total Revenues 928 9,270 120,821 510,088

EXPENDITURES
Current:

General government - - - - Public works - - - 417,589 Economic & community development - - 120,821 - Recreation & cultural services - - - - Capital outlay - - - - Debt service
Principal - - - - Interest and fiscal charges - - - - Total Expenditures - - 120,821 417,589 Excess (Deficiency) of Revenues over Expenditures 928 9,270 - 92,499

OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out - - - (62,400)

Total Other Financing Sources (Uses) - - - (62,400) Net Change in Fund Balances 928 9,270 - 30,099 Fund Balances Beginning 291,079 27,297 47,184 350 Prior Period Adjustments 39 - - - Fund Balances Beginning, as Adjusted 291,118 27,297 47,184 350 Fund Balances Ending 292,046$ 36,567$ 47,184$ 30,449$ Cont'd
Special Revenue Funds

EXHIBIT A
112
City of Marina
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2022

REVENUES
Taxes and assessments
Intergovernmental
Charges for services
Investment earnings
Other revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Economic & community development
Recreation & cultural services
Capital outlay
Debt service
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Prior Period Adjustments
Fund Balances Beginning, as Adjusted
Fund Balances Ending
National
Road Transportation Parka Seabreeze
Maintenance & Safety & Recreation ARPA Assessment
Rehabilitation Investment Services Grant District
Fund Fund Fund Fund Fund
443,678$ 992,654 $ - $ - $ 6,733$ - - - 2,724,850 - - - 82,483 - - 1,145 1,818 909 7,895 - - - - - - 444,823 994,472 83,392 2,732,745 6,733 - - - 273,149 - - 4,000 1,944 - 2,973 - - - - - - - 16,098 - - - - - - -

- - - - - - - - - - - 4,000 18,042 273,149 2,973 444,823 990,472 65,350 2,459,596 3,760 - - - - - (400,000) (930,000) (18,917) - (1,740) (400,000) (930,000) (18,917) - (1,740) 44,823 60,472 46,433 2,459,596 2,020 445,130 871,208 263,153 - (2,296) 46 - 95 - - 445,176 871,208 263,248 - (2,296) 489,999$ 931,680$ 309,681$ 2,459,596 $ (276)$ Cont'd
Special Revenue Funds

EXHIBIT A
113
City of Marina
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2022

REVENUES
Taxes and assessments
Intergovernmental
Charges for services
Investment earnings
Other revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Economic & community development
Recreation & cultural services
Capital outlay
Debt service
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Prior Period Adjustments
Fund Balances Beginning, as Adjusted
Fund Balances Ending

Monterey Cypress CFD
Bay Estates Cove II 2007-2 CFD
Assessment Assessment Locke- 2015-1 Housing
District District Paddon Dunes Assistance
Fund Fund Fund Fund Fund
12,541$ 19,748 $ 12,661 $ 172,074 $ - $ - - - - 1,800,000 - - - - - 52 20 61 2,786 4,914 - - - - - 12,593 19,768 12,722 174,860 1,804,914 - - - - - 5,640 12,402 2,609 7,046 - - - - - - - - - - - - - - - -

- - - - - - - - - - 5,640 12,402 2,609 7,046 - 6,953 7,366 10,113 167,814 1,804,914 - - - - - (2,870) (2,750) - (2,770) - (2,870) (2,750) - (2,770) - 4,083 4,616 10,113 165,044 1,804,914 12,954 3,894 13,945 782,916 - - - - 85 - 12,954 3,894 13,945 783,001 - 17,037$ 8,510$ 24,058$ 948,045$ 1,804,914$ Cont'd
Special Revenue Funds

EXHIBIT A
114
City of Marina
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2022

REVENUES
Taxes and assessments
Intergovernmental
Charges for services
Investment earnings
Other revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Economic & community development
Recreation & cultural services
Capital outlay
Debt service
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Prior Period Adjustments
Fund Balances Beginning, as Adjusted
Fund Balances Ending
2015 Marina Marina
GO Landing Greens
Refunding Improvement Improvement
Bonds Bonds Bonds
Fund Fund Fund
488,647$ -$ -$ - - - - - - 943 30 11 - - - 489,590 30 11 1 - - - - - - - - - - - - - -

280,000 - - 233,281 - 3,189 513,282 - 3,189 (23,692) 30 (3,178) - - - (14,855) - - (14,855) - - (38,547) 30 (3,178) 491,105 7,070 4,894 1,256 - - 492,361 7,070 4,894 453,814$ 7,100$ 1,716$ Cont'd
Debt Service Funds

EXHIBIT A
115
City of Marina
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2022

REVENUES
Taxes and assessments
Intergovernmental
Charges for services
Investment earnings
Other revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Economic & community development
Recreation & cultural services
Capital outlay
Debt service
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Prior Period Adjustments
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Measure X Airport Total
Road and Capital Park Nonmajor
Transportation Projects Facilities Governmental
Fund Fund Fund Funds
-$ -$ -$ 2,771,919$ - 69,806 - 4,594,656 - - - 82,483 17,974 3,690 2 52,488 111,736 - - 119,422 129,710 73,496 2 7,620,968 - - - 273,150 - - - 454,203 - - - 120,821 - - - 16,098 1,937,501 789,286 - 2,726,787

- - - 280,000 - - - 236,470 1,937,501 789,286 - 4,107,529 (1,807,791) (715,790) 2 3,513,439 2,930,000 834,775 - 3,764,775 - - - (1,436,302) 2,930,000 834,775 - 2,328,473 1,122,209 118,985 2 5,841,912 3,799,271 839,602 860 7,899,616 - - - 1,521 3,799,271 839,602 860 7,901,137 4,921,480$ 958,587$ 862$ 13,743,049$ Concluded
Capital Projects Funds

EXHIBIT A
116

GENERAL FUND COMBINING SCHEDULES

The General Fund is the City 's primary operating fund. This is the City's primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. For the City, the general fund includes such activities as public safety, public ways and facilities, parks and recreation services, and economic development services.

EXHIBIT A
117
City of Marina
Combining Balance Sheet
General Fund
June 30, 2022
Vehicle &
Equipment OPEB Pension Librar y Total
General Replacement Obligation Stabilization Maintenance General Fund Fund Fund Fund Fund Fund
ASSETS
Cash and investments 24,821,133$ 3,532,128$ 200,000$ 2,500,000$ 267,762$ 31,321,023$ Restricted cash and investments 241,408 - - - - 241,408 Accounts receivable 3,297,697 - - - - 3,297,697 Leases receivable 1,222,625 - - - - 1,222,625 Total assets 29,582,863$ 3,532,128$ 200,000$ 2,500,000$ 267,762$ 36,082,753$

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable 689,622$ 3,000$ -$ -$ -$ 692,622$ Accrued payroll and benefits 620,551 - - - 8 620,559 Deposits and other liabilities 963,915 - - - - 963,915 Total liabilities 2,274,088 3,000 - - 8 2,277,096 Deferred Inflows of Resources:

Leases receivable 818,925 - - - - 818,925 Unavailable revenues 320,686 - - - - 320,686 Total deferred inflows of resources 1,139,611 - - - - 1,139,611 Fund Balances:

Nonspendable 403,700 - - - - 403,700 Restricted 241,408 - - - - 241,408 Committed
Emergency Reserve 5,460,101 - - - - 5,460,101 Facilities Repairs 500,000 - - - - 500,000 Compensated Absences 400,000 - - - - 400,000 Community Improvements 641,268 - - - - 641,268 Vehicle & Equipment Replacement - 3,529,128 - - - 3,529,128 OPEB - - 200,000 - - 200,000 Pension Stabilization - - - 2,500,000 - 2,500,000 Library Maintenance - - - - 267,754 267,754 Unassigned 18,522,687 - - - - 18,522,687 Total fund balances 26,169,164 3,529,128 200,000 2,500,000 267,754 32,666,046 Total liabilities, deferred inflows of
resources and fund balances 29,582,863$ 3,532,128$ 200,000$ 2,500,000$ 267,762$ 36,082,753$

EXHIBIT A
118
City of Marina
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
General Fund
For the Year Ended June 30, 2022
Vehicle &
Equipmen t OPEB Pension Librar y Total
General Replacement Obligation Stabilization Maintenance General Fund Fund Fund Fund Fund Eliminations Fund

REVENUES
Taxes and assessments 25,134,454 $ - $ - $ - $ - $ - $ 25,134,454$ Licenses, permits and fees 2,721,385 - - - - - 2,721,385 Fines and forfeitures 109,348 - - - - - 109,348 Intergovernmental 1,159,983 - - - - - 1,159,983 Charges for services 4,701,964 - - - - - 4,701,964 Investment earnings 164,114 - - - - - 164,114 Local contributions 136,395 - - - - - 136,395 Other revenue 213,124 - - - - - 213,124 Total Revenues 34,340,767 - - - - - 34,340,767

EXPENDITURES
Current:

General government 6,727,374 3,117 - - - - 6,730,491 Public safety 12,800,633 - - - - - 12,800,633 Public works 1,481,249 - - - - - 1,481,249 Economic & community development 3,036,328 - - - 10,785 - 3,047,113 Recreation & cultural services 910,339 - - - - - 910,339 Capital outlay 54,400 275,212 - - - - 329,612 Debt service
Principal 146,373 115,322 - - - - 261,695 Interest and fiscal charges 38,974 12,192 - - - - 51,166 Total Expenditures 25,195,670 405,843 - - 10,785 - 25,612,298 Excess (Deficiency) of
Revenues over Expenditures 9,145,097 (405,843) - - (10,785) - 8,728,469

OTHER FINANCING SOURCES (USES)
Transfers in 240,946 905,000 - 450,000 - (1,355,000) 240,946 Transfers out (11,728,220) - - - - 1,355,000 (10,373,220) Equipment leases - 275,212 - - - - 275,212 S
ale of capital assets 6,323,477 - - - - - 6,323,477 Total Other Financing Sources (Uses) (5,163,797) 1,180,212 - 450,000 - - (3,533,585) Net Change in Fund Balances 3,981,300 774,369 - 450,000 (10,785) - 5,194,884 Fund Balances Beginning 21,845,538 2,754,759 200,000 2,050,000 278,539 - 27,128,836 Prior Period Adjustments 342,326 - - - - - 342,326 Fund Balances Beginning, as Adjusted 22,187,864 2,754,759 200,000 2,050,000 278,539 - 27,471,162 Fund Balances Ending 26,169,164$ 3,529,128$ 200,000$ 2,500,000$ 267,754$ -$ 32,666,046$

EXHIBIT A
119
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EXHIBIT A
120

STATISTICAL SECTION

EXHIBIT A
121
City of Marina TABLE 1
Net Position
Last Ten Fiscal Years
2013 2014 2015 1 2016 2
2017 2018 2019 2020 2021 2022
Governmental activities:

Net investment in capital assets 18,664,807$ 20,295,121$ 22,196,868$ 61,460,494$ 64,902,023$ 74,531,326$ 74,955,690$ 76,644,586$ 77,649,251$ 78,193,840$ Restricted 6,790,485 7,082,547 8,194,764 6,559,194 9,355,317 12,369,283 14,377,743 32,932,269 36,675,399 49,490,708 Unrestricted 17,440,618 18,619,528 7,227,722 12,018,477 11,101,690 1,153,328 5,397,539 8,141,549 10,374,278 41,188,811 Total governmental activities net position 42,895,910$ 45,997,196$ 37,619,354$ 80,038,165$ 85,359,030$ 88,053,937$ 94,730,972$ 117,718,404$ 124,698,928$ 168,873,359$ Business-type activities:

Net investment in capital assets 45,577,707$ 43,551,275$ 43,324,510$ 42,332,248$ 42,448,410$ 41,999,782$ 41,393,300$ 42,711,663$ 41,902,328$ 41,330,576$ Restricted - - - - - - - - - - Unrestricted 5,007,519 5,543,355 5,561,505 7,457,704 7,987,512 8,317,449 10,759,921 11,561,226 13,231,995 14,596,097 Total business-type activities net position 50,585,226$ 49,094,630$ 48,886,015$ 49,789,952$ 50,435,922$ 50,317,231$ 52,153,221$ 54,272,889$ 55,134,323$ 55,926,673$ Primary government:

Net investment in capital assets 64,242,514$ 63,846,396$ 65,521,378$ 103,792,742$ 107,350,433$ 116,531,108$ 116,348,990$ 119,356,249$ 119,551,579$ 119,524,416$ Restricted 6,790,485 7,082,547 8,194,764 6,559,194 9,355,317 12,369,283 14,377,743 32,932,269 36,675,399 49,490,708 Unrestricted 22,448,137 24,162,883 12,789,227 19,476,181 19,089,202 9,470,777 16,157,460 19,702,775 23,606,273 55,784,908 Total primary government net position 93,481,136$ 95,091,826$ 86,505,369$ 129,828,117$ 135,794,952$ 138,371,168$ 146,884,193$ 171,991,293$ 179,833,251$ 224,800,032$ Notes:
1 In Fiscal 2014/15, the City implemented Governmental Accounting Standards Board (GASB) Statement 68 - Accounting and Financial Reporting for Pensions, requiring the City to record a fictitious pension liability that was previously neither measurable nor recorded on the City's financial statements 2 In Fiscal 2015/16, the City acquired two significant capital assets; Preston Park Housing Project $35.1 million and Dunes infrastructure $2.9 million Source: City of Marina Audited Financial Statements
Fiscal Year Ended June 30 Fiscal Year Ended June 30
$-
$50
$100
$150
$200
$250
2013 2014 2015
1 2016
2 2017 2018 2019 2020 2021 2022
Millions
Total Primary Government Net Position

EXHIBIT A
122
City of Marina TABLE 2
Changes in Net Position
Last Ten Fiscal Years
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Expenses
Governmental activities:

General government 3,158,122$ 2,916,551$ 2,984,155$ 3,480,230$ 4,692,664$ 5,513,745$ 5,858,902$ 7,628,497$ 8,897,835$ 8,136,329$ Public safety 10,062,178 10,600,203 10,128,248 9,854,516 11,351,326 10,668,593 10,604,157 14,422,863 13,666,296 14,228,442 Public works 2,673,237 2,757,413 2,887,311 1,873,600 1,908,465 1,915,307 2,216,656 2,689,673 2,405,492 2,132,980 Economic & Community Development 1,501,626 1,791,747 1,424,974 2,441,492 1,927,976 2,259,928 2,803,220 3,956,676 5,247,962 4,980,771 Recreation & cultural services 1,088,854 1,232,087 1,069,775 1,179,699 1,173,364 1,197,500 1,169,832 1,244,526 940,929 1,050,440 Public Inprovements 1,167,854 765,115 896,127 1,505,639 1,689,946 1,883,898 2,177,696 - - - Interest and fiscal charges 1,088,328 1,030,828 1,407,245 796,761 667,627 553,256 558,500 591,768 639,390 561,904 Total governmental activities expenses 20,740,199 21,093,944 20,797,835 21,131,937 23,411,368 23,992,227 25,388,963 30,534,003 31,797,904 31,090,866 Business-type activities:

Airport 2,067,193 2,139,705 1,901,134 1,578,540 1,608,413 1,702,082 1,485,600 1,653,799 1,892,873 1,968,765 Preston Park Housing - - - 3,940,705 6,435,459 6,622,148 2,594,187 6,083,395 6,317,011 7,304,452 Abrams-B Housing 2,673,687 2,897,135 2,606,945 3,224,211 3,106,604 3,394,698 5,974,685 4,128,113 3,167,489 2,989,874 Total business-type activities expenses 4,740,880 5,036,840 4,508,079 8,743,456 11,150,476 11,718,928 10,054,472 11,865,307 11,377,373 12,263,091 Total primary government expenses 25,481,079$ 26,130,784$ 25,305,914$ 29,875,393$ 34,561,844$ 35,711,155$ 35,443,435$ 42,399,310$ 43,175,277$ 43,353,957$ Program Revenues
Governmental activities:

Charges for services & program revenues:

General government 1,253,981$ 2,857,217$ 573,764$ 2,494,834$ 2,499,202$ 3,932,540$ 4,020,638$ 4,232,396$ 3,763,108$ 3,932,646$ Public safet
y 744,846 848,336 603,046 786,543 733,781 909,599 218,953 196,284 289,185 359,321 Public works 515,416 905,055 1,751,989 - 599 440 - - - - Economic & Community Development 1,402,912 3,390,067 2,898,550 1,252,538 1,685,111 1,473,747 1,430,281 3,801,226 6,584,030 20,970,137 Recreation & cultural services 244,427 179,949 178,301 81,713 77,361 94,627 92,731 172,209 81,644 128,622 Public Inprovements 5,533 60,905 1,056,078 1,929,360 2,306,877 2,295,007 1,776,845 - - - Debt Service 1,120,322 1,063,287 1,215,804 - - - - - - - Operating grants and contributions 419,088 501,893 438,044 380,876 - 397,385 846,776 1,018,974 1,788,253 5,145,614 Capital grants and contributions 589,729 658,007 2,286,975 4,585,380 - 1,197,861 1,517,506 11,212,794 383,039 8,178,443 Total governmental activities program revenues 6,296,254 10,464,716 11,002,551 11,511,244 7,302,931 10,301,206 9,903,730 20,633,883 12,889,259 38,714,783 Business-type activities:

Charges for services:

Airport 1,118,689 1,188,608 1,235,090 1,135,525 1,157,167 1,078,147 1,331,552 1,340,046 1,790,543 1,805,219 Preston Park Housing - - - 4,934,125 6,328,162 6,469,476 3,455,449 6,843,782 7,058,160 7,190,772 Abrams-B Housing 2,892,241 2,965,994 3,058,722 3,197,353 3,264,067 3,324,176 6,687,941 3,495,394 3,477,132 3,662,562 Operating grants and contributions - - - 10,000 390,351 10,000 - - - - Capital grants and contributions - - - - 3,986,805 696,860 - 2,530,886 462,750 669,523 Total business-type activities program revenues 4,010,930 4,154,602 4,293,812 9,277,003 15,126,552 11,578,659 11,474,942 14,210,108 12,788,585 13,328,076 Total primary government program revenues 10,307,184 14,619,318 15,296,363 20,788,247 22,429,483 21,879,865 21,378,672 34,843,991 25,677,844 52,042,859 Net (expense)/revenue:

Governmental activities (14,443,945) (10,629,228) (9,795,284) (9,620,693) (16,108,437) (13,691,021) (15,485,233) (9,900,120) (18,908,645) 7,623,917 Business-type activities (729,950) (882,238) (214,267) 533,547 3,976,076 (140,269) 1,420,470 2,344,801 1,411,212 1,064,985 Total primary government net (expense)/revenue (15,173,895)$ (11,511,466)$ (10,009,551)$ (9,087,146)$ (12,132,361)$ (13,831,290)$ (14,064,763)$ (7,555,319)$ (17,497,433)$ 8,688,902$ General Revenues and Other Changes in Net Assets
Governmental activities:

Taxes
Property taxes 2,341,638 $ 4,595,756 $ 5,109,408 $ 2,719,013 $ 3,018,698 $ 3,261,967 $ 3,796,881 $ 3,724,035 $ 3,919,415 $ 4,502,513 $ Sales and use taxes 4,434,956 4,588,760 4,849,207 5,210,921 5,366,144 5,929,585 6,862,925 8,420,971 9,640,663 11,207,575 Franchise taxes 646,522 726,548 823,764 1,007,012 1,084,574 1,173,881 1,976,778 1,225,160 1,238,550 1,379,811 Transient occupancy taxes 1,932,294 2,154,023 2,395,263 2,549,531 2,680,928 3,297,828 4,008,179 3,472,430 3,501,246 4,631,337 Gas taxes - - - - - - - 946,422 986,884 946,041 Motor vehicle taxes 3,014,633 - - 2,685,134 2,934,743 3,252,508 3,649,318 4,012,763 4,360,659 4,756,478 Other taxes - - - - - - - 142,225 101,780 211,466 Grants not restricted to a program - - - - - - - 2,149,827 139,197 69,807 Investment earnings 49,158 23,541 28,416 75,584 149,622 402,805 613,259 973,856 679,275 319,032 Transfers, M
iscellaneous & One-time revenues 76,207 1,641,886 1,423,896 730,262 1,817,437 2,466,111 1,254,928 1,536,863 1,597,893 1,423,504 Special items - - - 37,062,047 - (3,398,757) - 6,283,000 - 6,323,477 Total governmental activities 12,495,408 13,730,514 14,629,954 52,039,504 17,052,146 16,385,928 22,162,268 32,887,552 26,165,562 35,771,041 Business-type activities:

Other revenue - - - - - - - 274,299 226,507 252,874 Investment earnings 6,854 5,941 5,653 6,954 10,824 21,578 76,494 87,568 55,758 171,877 Contributed capital assets - 13,960 1,036,227 - 324,720 - - - Transfers In(Out) Net - - - - - - 14,306 (587,000) (832,043) (864,575) Total business-type activities 6,854 19,901 5,653 6,954 1,047,051 21,578 415,520 (225,133) (549,778) (439,824) Total primary government 12,502,262$ 13,750,415$ 14,635,607$ 52,046,458$ 18,099,197$ 16,407,506$ 22,577,788$ 32,662,419$ 25,615,784$ 35,331,217$ Change in Net Position
Governmental activities (1,948,537) $ 3,101,286 $ 4,834,670 $ 42,418,811 $ 943,709 $ 2,694,907 $ 0 6,677,035 $ 22,987,432 $ 7,256,917 $ 43,394,958 $ Business-type activities (723,096) (862,337) (208,614) 540,501 5,023,127 (118,691) 0 1,835,990 2,119,668 861,434 625,161 Total primary government (2,671,633)
$ 2,238,949$ 4,626,056$ 42,959,312$ 5,966,836$ 2,576,216$ 8,513,025$ 25,107,100$ 8,118,351$ 44,020,119$ Source: City of Marina Audited Financial Statements
Fiscal Year Ended June 30 Fiscal Year Ended June 30

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123
City of Marina TABLE 3
Fund Balances of Governmental Funds
Last Ten Fiscal Years
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
General Fund
Nonspendable 269,169$ 545,361$ 715,669$ 543,713$ 530,713$ 530,713$ -$ -$ -$ 403,700$ Restricted 178,246 180,782 396,081 446,329 211,371 511,371 239,497 595,729 235,609 241,408 Committed 200,000 200,000 603,705 570,730 7,027,012 7,367,012 9,644,438 10,597,489 11,457,490 13,498,251 Unassigned 5,443,810 6,478,231 6,142,694 6,340,666 1,318,952 4,157,087 7,549,288 13,313,018 15,435,737 18,522,687 Total General Fund 6,091,225$ 7,404,374$ 7,858,149$ 7,901,438$ 9,088,048$ 12,566,183$ 17,433,223$ 24,506,236$ 27,128,836$ 32,666,046$ All other governmental funds
Restricted -
Recreation & Social Service Programs 529,511$ 388,107 $ 437,778 $ 396,963 $ 456,117 $ 529,410 $ 603,788 $ 641,522 $ 263,153 $ 309,681 $ Transprotation and Streets - - - - - - - 1,655,668 2,130,397 2,449,778 Economic & Community Development 4,134,798 4,691,109 6,742,282 5,094,894 8,270,438 10,318,250 13,121,425 25,464,987 28,452,169 41,488,214 Capital Improvements & Maintenance 872,555 918,950 15,068 59,329 256,727 950,955 1,500,191 3,613,719 4,639,733 8,340,525 Debt service 1,075,375 903,599 603,555 561,680 859,522 884,213 889,834 960,644 954,338 925,612 Committed 4,575,485 3,984,776 4,935,756 8,159,831 5,411,834 6,617,787 5,960,566 6,966,622 8,522,887 29,502,879 Unassigned - - - - - - (376) (1,561) (2,296) (276) Total all other governmental funds 11,187,724 $ 10,886,541 $ 12,734,439 $ 14,272,697 $ 15,254,638 $ 19,300,615 $ 22,075,428 $ 39,301,601 $ 44,960,381 $ 83,016,413 $ Fund Balance - All Governmental Funds 17,278,949$ 18,290,915 $ 20,592,588 $ 22,174,135 $ 24,342,686 $ 31,866,798 $ 39,508,651 $ 63,807,837 $ 72,089,217$ 115,682,459$ Source: C
ity of Marina audited financial statements
Fiscal Year Ended June 30 Fiscal Year Ended June 30

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124
City of Marina TABLE 4
Last Ten Fiscal Years
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Revenues
Taxes & assessments 12,370,042$ 13,403,846$ 13,859,210$ 14,776,278$ 15,622,866$ 17,513,555$ 21,359,063$ 21,944,005$ 23,749,197$ 27,906,373$ Licenses, Permits & Fees 277,547 444,470 515,123 545,288 672,613 2,127,179 2,346,192 1,962,170 2,446,456 10,878,675 Fines and penalties 189,423 195,743 194,540 144,598 146,415 106,116 102,543 60,958 95,186 109,348 Intergovernmental revenues - - - 2,649,113 3,224,446 2,252,459 2,069,412 15,455,706 2,530,786 5,759,109 Charges for services 6,154,287 8,730,551 9,732,507 5,315,358 5,203,312 6,074,165 5,136,602 6,378,832 8,064,882 14,357,935 Investment Earnings 49,158 38,287 41,926 75,584 149,622 402,532 613,259 973,856 679,275 319,032 Local contributions - - - - - - - - - 7,500,523 Other revenues 536,172 108,332 1,242,920 39,664,855 2,893,494 (i) 1,169,157 (ii 839,396 979,403 1,224,019 1,079,380 Total revenues 19,576,629 22,921,229 25,586,226 63,171,074 27,912,768 29,645,163 32,466,467 47,754,930 38,789,801 67,910,375 Expenditures
General government 2,187,323 2,333,193 2,512,974 2,765,874 3,350,106 4,334,089 4,664,354 5,310,952 6,690,092 7,003,641 Public safety 10,194,910 10,209,287 10,551,880 10,425,058 10,581,491 10,127,912 10,300,132 11,281,745 12,046,544 12,800,633 Public works 2,640,931 2,686,096 2,906,689 1,784,937 1,798,782 1,821,925 1,868,424 2,109,907 2,206,588 1,935,452 Economic & community development 1,953,554 1,800,790 1,448,506 2,441,977 1,923,875 2,254,588 2,641,074 2,439,900 4,052,730 3,694,361 Recreation & cultural services 913,253 1,080,272 895,100 964,613 950,754 1,002,449 994,789 950,128 812,409 926,437 Redevelopment - - - - - - - - - - Public improvements/capital outlay 2,076,397 3,153,496 2,722,948 41,314,503 6,281,854 2,042,472 3,678,333 6,850,668 3,994,336 4,200,899 Debt Service
Principal 676,185 1,214,878 661,757 1,284,007 889,686 625,200 765,000 809,692 888,516 991,695 Interest and fiscal charges 941,068 1,041,082 1,063,563 734,155 719,354 641,193 561,358 572,752 649,249 572,916 Total expenditures 21,583,621 23,519,094 22,763,417 61,715,124 26,495,902 22,849,828 25,473,464 30,325,744 31,340,464 32,126,034 Excess of revenues over(under) expenditures (2,006,992) (597,865) 2,822,809 1,455,950 1,416,866 6,795,335 6,993,003 17,429,186 7,449,337 35,784,341 Other financing sources (uses)
Transfers in 3,368,405 2,928,560 3,149,165 4,669,312 2,156,862 1,312,011 4,298,165 6,421,672 5,821,845 22,344,337 Transfers out (2,928,370) (2,387,529) (3,017,733) (4,543,717) (1,405,176) (583,234) (4,312,471) (5,834,672) (4,989,802) (21,479,762) Sale of capital assets - 1,068,800 - - - - - 6,283,000 - 6,323,477 Issuance of long-term debt - - (401,716) - - - 663,156 - - 275,212 Tot
al other financing sources (uses) 440,035 1,609,831 (270,284) 125,595 751,686 728,777 648,850 6,870,000 832,043 7,463,264 Net change in fund balances (1,566,957)$ 1,011,966$ 2,552,525$ 1,581,545$ 2,168,552$ 7,524,112$ 7,641,853$ 24,299,186$ 8,281,380$ 43,247,605$ Beginning Fund Balances 18,845,907 17,278,949 18,290,915 20,592,588 22,174,136 24,342,686 31,866,798 39,508,651 63,807,837 72,089,217 Rounding (1) 3 (2) - - - - - Prior-period adjustment - - (250,852) - - - - - - 345,637 Ending Fund Balances 17,278,949$ 18,290,915$ 20,592,588$ 22,174,136$ 24,342,686$ 31,866,798$ 39,508,651$ 63,807,837$ 72,089,217$ 115,682,459$ (i) (i)
Source: City of Marina Audited Financial Statements
(ii) - During fiscal 2016/17 The City recorded a one-time revenue of almost $2 from donation of infrastructure at the Dunes dev elopment. In addition, significant extraordinary grants for capital improvements were received.

Fiscal Year Ended June 30 Fiscal Year Ended June 30
Changes in Fund Balances of Governmental Funds
(i) - during FY 2015/2016 the City recorded a one-time revenue resulting from sale of a 50-year leasehold interest in the Prest on Park Housing development to the Preston Park Corporation. An extraordinay capital outla y cost was recorded for the acquisition of that asset.In addition , the developer of the former University Villages donated almost $3 M illion infrastructure which was recognized as one-time revenue. Other one-time capital asset-related revenues totalled $1 3 Million

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125
City of Marina TABLE 5
General Fund Tax Revenues
Last Ten Fiscal Years
Franchise & Transient Motor Vehicle.

Property Sales Cardroom Occupancy In-Lieu Total
1,879,967$ 4,434,956 $ 646,522 $ 1,932,294 $ 2,324,211 $ 11,217,950 $ 2,199,001 4,588,760 726,548 2,154,023 2,396,756 12,065,088 2,045,073 4,849,207 823,764 2,395,263 2,555,616 12,668,923 2,252,005 5,210,921 1,037,816 2,549,531 2,685,134 13,735,407 2,462,394 5,288,097 983,741 2,680,927 2,934,017 14,349,176 2,616,657 5,847,182 1,057,654 3,297,828 3,252,508 16,071,829 3,079,361 6,862,925 1,259,574 4,008,180 3,649,318 18,859,358 3,044,638 7,740,865 1,249,755 3,472,431 4,012,763 19,520,452 3,111,184 8,793,254 1,221,904 3,501,246 4,360,659 20,988,247 3,790,110 10,365,252 1,591,277 4,631,337 4,756,478 25,134,454 Source: City of Marina Financial Statements
Fiscal Year
Ended
June 30
2013
2014
2015
2016
2022
2017
2018
2019
2020
2021
$-
$5
$10
$15
$20
$25
$30
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions
Year
General Fund Tax Revenue by Fiscal Year

EXHIBIT A
126
City of Marina TABLE 6
General Fund Revenues
Last Ten Fiscal Years
Fiscal Year Ended
June 30 Taxes
Licenses, Permits
& Fees
Fines, Penalties
and Forfeitures
Chrg for Svcs
Grants & Program
Income
Investment
Earnings Other Total *
2013 11,217,950$ 277,547 $ 189,423 $ 3,410,660 $ 30,124 $ 96,392 $ 15,222,096$ 2014 12,065,088 444,470 195,743 4,295,003 23,597 32,054 17,055,955 2015 12,668,923 515,123 194,540 4,016,197 26,961 236,379 17,658,123 2016 ** 13,735,407 545,288 144,598 4,311,415 41,376 145,502 18,923,586 2017 *** 14,349,176 672,613 146,415 3,719,176 96,574 429,215 19,413,169 2018 16,071,829 2,127,179 106,116 3,455,823 242,670 1,531,133 23,534,750 2019 18,859,358 2,346,192 102,543 3,313,868 334,220 881,440 25,837,621 2020 19,502,452 1,962,170 60,957 4,045,957 552,780 1,445,811 27,570,127 2021 20,988,247 2,446,456 95,186 5,429,334 323,971 466,679 29,749,873 2022 25,134,454 2,721,385 109,348 5,861,947 164,114 349,519 34,340,767 Source: City of Marina Financial Statements
* Excludes transfers in from other funds
** Other excludes $37.9 million non-cash capital assets transactions for consistency *** Other excludes $1.6 million non-cash capital assets transactions for consistency $-
$5
$10
$15
$20
$25
$30
$35
$40Millions
Total General Fund Revenue by Fiscal Year

EXHIBIT A
127
City of Marina TABLE 7
All Governmental Funds Revenues
Last Ten Fiscal Years
Fiscal Year
Ended June 30
Taxes &
Assessments
Licenses,
Permits & Fees
Fines, Penalties
and Forfeitures
Intergov't
Revenues
Chrg for
Services
Investment
Earnings Other Total *
2013 12,370,042$ 277,547 $ 189,423 $ - $ 6,154,287$ 49,158 $ 536,172 $ 19,576,629 $ 2014 13,403,846 444,470 195,743 - 8,730,551 38,287 108,332 22,921,229 2015 13,859,210 515,123 194,540 - 9,732,507 41,926 1,242,920 25,586,226 2016 ** 14,776,278 545,288 144,598 2,649,113 5,315,358 75,584 1,751,986 25,258,205 2017 *** 15,622,866 672,613 146,415 3,224,446 5,203,312 149,622 546,503 25,565,777 2018 17,513,555 2,127,179 106,116 2,252,459 6,074,165 402,532 3,421,616 31,897,622 2019 **** 21,359,063 2,346,192 102,543 2,069,412 5,136,602 613,259 2,908,808 34,535,879 2020 21,944,005 1,962,170 60,958 15,455,706 6,378,832 973,856 979,403 47,754,930 2021 23,749,197 2,446,456 95,186 2,530,786 8,064,882 679,275 1,224,019 38,789,801 2022 27,906,373 10,878,675 109,348 5,759,109 14,357,935 319,032 8,579,903 67,910,375 Source: City of Marina Financial Statements
* Excludes interfund transfers in
** Other excludes $37.9 million non-cash capital lease transactions for consistency *** Other excludes $1.6 million non-cash capital assets transactions for consistency **** Other excludes $.66 million non-cash lease transaction for consistency $-
$10
$20
$30
$40
$50
$60
$70
$80Millions
Total Governmental Funds Revenue by Fiscal Year

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128
City of Marina TABLE 8
Total Outstanding Debt
Last Ten Fiscal Years
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Governmental Activities:

General obligation library refunding bonds 8,325,000$ 8,260,000$ 7,925,000$ 7,640,000$ 7,555,000$ 7,390,000$ 7,195,000$ 6,970,000$ 6,710,000$ 6,430,000$ Pension obligation bonds 2,480,000 1,995,000 1,470,000 900,000 275,000 145,000 - - - - Total General Obligation Bonds 10,805,000 10,255,000 9,395,000 8,540,000 7,830,000 7,535,000 7,195,000 6,970,000 6,710,000 6,430,000 Revenue bonds - Abrams-B Housing 12,500,000 12,165,000 11,820,000 11,465,000 11,275,000 10,860,000 10,435,000 10,005,000 9,565,000 9,115,000 Redevelopment tax increment bonds - - - - - - - - - - Limited obligation bonds - Marina Landing 190,000 - - - - - - - - - Limited obligation bonds - Marina Greens 225,000 155,000 - - - - - - - - Total Limited Obligation & Revenue Bonds 12,915,000 12,320,000 11,820,000 11,465,000 11,275,000 10,860,000 10,435,000 10,005,000 9,565,000 9,115,000 Total Bonded Indebtedness 23,720,000 22,575,000 21,215,000 20,005,000 19,105,000 18,395,000 17,630,000 16,975,000 16,275,000 15,545,000 Compensated absences 1,297,518 1,273,047 1,137,080 1,223,211 1,289,557 1,234,374 1,374,294 1,544,477 1,581,280 1,604,523 Leases 234,410 164,532 92,774 18,767 - - 663,156 508,464 596,341 609,858 Total Governmental Activities 25,251,928 24,012,579 22,444,854 21,246,978 20,394,557 19,629,374 19,667,450 19,027,941 18,452,621 17,759,381 Business-type Activities:

Promissory note - Preston Park Housing - - - 35,950,000 35,950,000 35,950,000 35,950,000 35,950,000 35,950,000 35,950,000 - - - - - - - - - - Total Business-type Activities - - - 35,950,000 35,950,000 35,950,000 35,950,000 35,950,000 35,950,000 35,950,000 Total Debt 25,251,928 $ 24,012,579 $ 22,444,854 $ 57,196,978 $ 56,344,557 $ 55,579,374 $ 55,617,450 $ 54,977,941 $ 54,402,621 $ 53,709,381 $ Per Capita income1 25,106$ 25,101 $ 24,773 $ 25,327 $ 26,525 $ 28,168 $ 29,705 $ 30,895 $ 33,348 $ 38,304 $ Personal income1 (in thousands) 507,869$ 509,601 $ 521,199 $ 546,937 $ 587,343 $ 631,639 $ 681,936 $ 689,608 $ 730,984 $ 821,890 $ Debt as percentage of personal income 4.97% 4.71% 4.31% 10.46% 9.59% 8.80% 8.16% 7.97% 7.44% 6.53% Population2 20,229 20,302 21,039 21,595 22,143 22,424 22,957 22,321 21,920 21,457 Total debt per capita 1,248 1,183 1,067 2,649 2,545 2,479 2,423 2,463 2,482 2,503 Taxable Assessed value3 1,414,994,415 1,461,630,562 1,561,125,061 1,642,092,991 1,803,719,945 1,924,857,463 2,168,132,130 2,385,745,200 2,599,147,176 2,838,045,534 Total Debt as % of assessed value 1.78% 1.64% 1.44% 3.48% 3.12% 2.89% 2.57% 2.30% 2.09% 1.89% Notes:

Source: City of Marina Audited Financial Statements
(-) No data available
1 MuniServices LLC (for 2018 estimated 2% increase from prior year) - Personal Income calculated by multiplying per capita income by total population (see 2) 2 California Department of Finance
3 Monterey County Tax Rate Books, as detailed by MuniServices LLC (see Table 11) Fiscal Year Ended June 30

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129
City of Marina TABLE 9
Bonded Debt
Last Ten Fiscal Years
Fiscal 333 G.O. Debt
Year Total Less: General as a % G.O. Debt Taxable
Ended Bonded Revenue Obligation of Assessed Per Assessed June 30 Debt Bonds Bonded Debt Value Capita Value1 Population2 2013 23,720,000 12,915,000 10,805,000 0.76% 534 1,414,994,415 20,229 2014 22,575,000 12,320,000 10,255,000 0.70% 505 1,461,630,562 20,302 2015 21,215,000 11,820,000 9,395,000 0.60% 447 1,561,125,061 21,039 2016 20,005,000 11,465,000 8,540,000 0.52% 395 1,642,092,991 21,595 2017 19,105,000 11,275,000 7,830,000 0.43% 354 1,803,719,945 22,143 2018 18,395,000 10,860,000 7,535,000 0.39% 336 1,924,857,463 22,424 2019 17,630,000 10,435,000 7,195,000 0.33% 313 2,168,132,130 22,957 2020 16,975,000 10,005,000 6,970,000 0.29% 312 2,385,745,200 22,321 2021 16,275,000 9,565,000 6,710,000 0.26% 306 2,599,147,176 21,920 2022 15,545,000 9,115,000 6,430,000 0.23% 300 2,838,045,534 21,457 Source: 1 CMonterey County Auditor-Controller Tax Rate Book 2 California Department of Finance mid-fiscal year (e.g. 2008 population @ 1/1/2008) 3 City of Marina Audited Financial Statements
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
General Obligation Bonded Debt Outstanding

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City of Marina TABLE 10
Demographic and Economic Statistics
Last ten fiscal years
Fiscal
Year
Population
(1)
Personal
Income (2)
Per Capita
Personal
Income (2)
Median
Age (4)
**Public
School
Enrollment
County
Unemployment
Rate (%) (3)
City
Unemployment
Rate(%) (3)
County
Population
(1)
2012-13 19,996 502,020 25,106 35.5 10,730 - - 420,668
2013-14 20,073 503,852 25,101 37.3 10,768 10.1% 6.0% 421,494 2014-15 20,268 502,099 24,773 36.5 10,653 7.6% 5.7% 425,756 2015-16 20,872 528,625 25,327 36.5 10,633 8.1% 6.1% 425,413 2016-17 21,528 571,030 26,525 36.9 10,732 7.6% 5.7% 442,365 2017-18 22,424 631,639 28,168 36.9 10,685 9.4% 3.1% 443,281 2018-19 22,957 681,936 29,705 36.8 10,658 4.7% 2.6% 445,414 2019-20 22,321 689,608 30,895 34.9 10,526 16.8% 19.3% 441,143 2020-21 21,920 730,984 33,348 33.9 9,994 10.8% 10.2% 437,318 2021-22 21,457 821,890 38,304 34.4 9,909 4.4% 2.1% 433,716 **Student Enrollment reflects the total number of students enrolled in the Monterey Peninsula Unified School District.

Other school districts within the City are not accounted for in this statistic. ( - ) No data available

3.) Unemployment Data is provided by the EDD's Bureau of Labor Statistics Department.

4.) Data provided by the United States Census Data Sets Tables.

Source: MuniServices, LLC / Avenu Insights & Analytics

1.) Population Projections are provided by the California Department of Finance Projections.

2.) Income Data is derived from previous income adjusted for inflation.

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City of Marina TABLE 11
Citywide Assessed Value and Estimated Actual Value of Taxable Property Last Ten Fiscal Years
Fiscal Year
Ended
June 30, Residential Property
Commercial
Property
Other
Property
Total Secured
Property
Unsecured
Property
Less Tax-
exempt
property
Taxable
Assessed
Value
Total Direct
Tax Rate (1)
Estimated
Actual Taxable
Value (2)
Factor of
Taxable
Assessed
Value (2)
2013 1,021,168,922 210,455,067 205,553,290 1,437,177,279 58,276,233 80,459,097 1,414,994,415 0.195687 - - 2014 1,042,168,418 214,316,449 236,797,577 1,493,282,444 57,910,086 89,561,968 1,461,630,562 0.195687 - - 2015 1,119,179,396 230,300,136 241,538,459 1,591,017,991 60,026,223 89,919,153 1,561,125,061 0.195687 - - 2016 1,191,143,317 235,961,520 271,722,544 1,698,827,381 60,963,585 117,697,975 1,642,092,991 0.195687 - - 2017 1,304,549,843 239,333,525 323,669,510 1,867,552,878 70,591,640 134,424,573 1,803,719,945 0.195687 2,566,421,120 1.4228490 2018 1,434,005,745 280,826,470 279,447,839 1,994,280,054 70,557,468 139,980,059 1,924,857,463 0.195687 4,227,144,827 2.1960820 2019 1,624,632,460 299,834,075 324,295,905 2,248,762,440 68,650,466 149,280,776 2,168,132,130 0.195687 3,598,481,418 1.6597150 2020 1,832,903,173 299,403,469 349,422,056 2,481,728,698 74,208,552 170,192,050 2,385,745,200 0.195687 4,402,847,247 1.8454809 2021 2,038,469,193 323,010,924 337,595,275 2,699,075,392 74,931,939 174,860,155 2,599,147,176 0.195687 3,863,740,763 1.4865417 2022 2,171,042,885 333,780,752 411,172,716 2,915,996,353 94,107,175 172,057,994 2,838,045,534 0.195687 4,837,325,669 1.7044567 ( - ) No data available
Source: Monterey County Assessor data, MuniServices, LLC (1.) Total direct tax rate is represented by TRA 12-004. (2.) Estimated Actual Value is derived from a series of calculations comparing median assessed values from 1940 to current median sale prices. Based on these calculations a multiplier value was extrapolated and applied to current assessed values.

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City of Marina TABLE 12
Total Assessed Value of Property by Use Code, Citywide
Last Ten Fiscal Years ended June 30,
Category 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 Residential 1,021,168,922 1,042,168,418 1,119,179,396 1,191,143,317 1,304,549,843 1,434,005,745 1,624,632,460 1,832,903,173 2,038,469,193 2,171,042,885 Commercial 210,455,067 214,316,449 230,300,136 235,961,520 239,333,525 280,826,470 299,834,075 299,403,469 323,010,924 333,780,752 Vacant 88,707,295 91,495,277 92,842,928 113,779,359 159,784,721 86,517,557 107,563,261 118,749,943 102,071,314 171,033,049 Industrial 42,004,430 43,126,163 45,472,293 47,528,389 50,935,771 50,311,955 74,410,577 81,659,246 83,292,426 84,155,329 Professional 2,327,927 27,065,788 27,188,660 27,731,885 28,154,791 55,396,279 51,429,463 53,428,857 54,707,908 55,772,674 Miscellaneous 23,492,333 23,885,720 24,134,083 24,581,435 24,859,615 28,798,906 30,396,302 31,701,673 32,438,297 32,682,443 Unknown 10,941,213 11,523,829 11,910,872 18,220,975 18,563,065 14,390,755 14,745,873 15,350,500 15,654,726 15,809,711 Social 12,313,314 13,342,598 13,405,529 13,659,612 13,862,915 14,456,257 14,577,357 14,678,468 14,972,034 15,127,142 Rural 10,607,474 10,817,599 10,896,679 11,112,371 11,280,290 13,054,808 14,390,658 14,250,237 14,522,610 21,926,784 Institution 8,643,639 8,890,706 9,014,743 9,217,872 10,257,867 10,439,846 10,584,094 11,083,917 11,248,345 11,222,180 Recreation 6,515,665 6,649,897 6,672,672 5,890,646 5,970,475 6,081,476 6,198,320 8,519,215 8,687,615 3,443,404 Total Secured Value 1,437,177,279 1,493,282,444 1,591,017,991 1,698,827,381 1,867,552,878 1,994,280,054 2,248,762,440 2,481,728,698 2,699,075,392 2,915,996,353 Unsecured 58,276,233 57,910,086 60,026,223 60,963,585 70,591,640 70,557,468 68,650,466 74,208,552 74,931,939 94,107,175 Exemptions 80,459,097 89,561,968 89,919,153 117,697,975 134,424,573 139,980,059 149,280,776 170,192,050 174,860,155 172,057,994 Total Assessed Value 1,414,994,415 1,461,630,562 1,561,125,061 1,642,092,991 1,803,719,945 1,924,857,463 2,168,132,130 2,385,745,200 2,599,147,176 2,838,045,534 Source: Monterey County Assessor data, MuniServices, LLC / Avenu Insights & Analytics Use code categories are based on Monterey County Assessor's data

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City of Marina TABLE 13
Direct and Overlapping Property Tax Rates
Last Nine Fiscal Years ending June 30,
2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021-22 Basic City and County Levy
Monterey County-Wide 0.246232 0.246232 0.246232 0.246232 0.246232 0.246232 0.246232 0.246232 0.246232 0.246232 County Library 0.022722 0.022722 0.022722 0.022722 0.022722 0.022722 0.022722 0.022722 0.022722 0.022722 City of Marina 0.195687 0.195687 0.195687 0.195687 0.195687 0.195687 0.195687 0.195687 0.195687 0.195687 Monterey County Office of Education 0.026664 0.026664 0.026664 0.026664 0.026664 0.026664 0.026664 0.026664 0.026664 0.026664 Monterey Pen Unified School District 0.437978 0.437978 0.437978 0.437978 0.437978 0.437978 0.437978 0.437978 0.437978 0.437978 Monterey Pen College 0.047299 0.047299 0.047299 0.047299 0.047299 0.047299 0.047299 0.047299 0.047299 0.047299 MCWRA Dist 0.001391 0.001391 0.001391 0.001391 0.001391 0.001391 0.001391 0.001391 0.001391 0.001391 Monterey Regional Park Dist 0.011593 0.011593 0.011593 0.011593 0.011593 0.011593 0.011593 0.011593 0.011593 0.011593 North Salinas Valley Mosquito Abater 0.008347 0.008347 0.008347 0.008347 0.008347 0.008347 0.008347 0.008347 0.008347 0.008347 Moss Landing Harbor Dist 0.002087 0.002087 0.002087 0.002087 0.002087 0.002087 0.002087 0.002087 0.002087 0.002087 TOTAL 1% BREAKOUT 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 Override Assessments
City of Marina debt service 0.004484 0.004684 0.004602 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 Marina Library 2002 Election Series 2005 0.027716 0.028118 0.027962 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 Monterey Pen Coll 2002 Ser A & 2005 Refund 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 Monterey Pen Coll 2002 Ser B C & 2005 Refund 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 Monterey Pen Unif SD 2010 Election Series A 0.027965 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 Monterey Pen CCD 2002 Ser B C & 2005 Refund 0.022367 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 Monterey Pen CCD 2013 Refund 0.000000 0.015772 0.032471 0.023039 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 Monterey Pen USD 2010 Ser A & 2012 Election 0.000000 0.021309 0.022774 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 Marina 2015 GO Refunding Bonds 0.000000 0.000000 0.000000 0.022348 0.023068 0.021612 0.023200 0.019640 0.022180 0.016740 Monterey Penn CCD 2002 BC & 2013 Ref AB & 2016 Ref 0.000000 0.000000 0.000000 0.000000 0.022336 0.021655 0.021187 0.020484 0.020166 0.032006 Monterey Pen USD 2010 Ser A & B 0.000000 0.000000 0.000000 0.030000 0.030000 0.028902 0.091957 0.117071 0.041454 0.060422 TOTAL OVERRIDE RATE 0.082532 0.069883 0.087809 0.075387 0.075404 0.072169 0.136344 0.157195 0.083800 0.109168 Total Tax Rate 1.082532 1.069883 1.087809 1.075387 1.075404 1.072169 1.136344 1.157195 1.083800 1.109168 Source: County Auditor/Controller data, MuniServices, LLC /Avenu Insights & Analytics Rates are not adjusted for ERAF
TRA 12-004 is represented for this report

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City of Marina TABLE 14
Principal Property Tax Payers
Last Fiscal Year and Nine Years Ago
Taxpayer
Taxable Value
($)
Percent of
Total City
Taxable
Value (%)
Taxable Value
($)
Percent of
Total City
Taxable
Value (%)
Hamstra-Appleton LLC 53,363,977 1.88%
Wathen Castanos Peterson Homes 37,821,432 1.33%
Pacific Coast Highway Property 37,275,607 1.31%
Marina Developers Inc. 36,069,996 1.27%
LV44 Limited Partnership 35,682,180 1.26% 23,910,448 1.69% SHEA Homes Limited Partnership 34,567,131 1.22%
HHLP Sanctuary Associates LLC 31,783,768 1.12%
MHC Marina Dunes L P 28,561,623 1.01%
Target Corporation 25,284,000 0.89% 20,500,000 1.45% Community Hospital Properties 23,583,294 0.83%
Wal-Mart Real Estate Business 23,573,321 0.83% 17,500,000 1.24% Cemex Inc. 21,337,814 0.75% 16,807,076 1.19% Monterey Peninsula Hotels 19,781,195 0.70%
Tate Michael J Tr 18,458,827 0.65% 15,134,743 1.07% SPPI Commercial LLC 16,902,438 0.60%
Marina Community Partners LLC 16,163,174 0.57% 50,781,973 3.59% Alliance Residential Co Inc. 15,974,369 0.56% 13,766,238 0.97% Sea Breeze Marina LLC 14,808,180 0.52%
WC Marina LLC 14,557,667 0.51%
Valle Del Sol Properties LLC 13,723,669 0.48%
Foux Anthony Tr & Zimmerman Gr 13,526,392 0.48%
Marina Hotels BW LLC 13,441,010 0.47%
Joby Aviation 12,567,810 0.44%
189 Seaside LLC 11,178,080 0.39%
SKN Properties 11,063,608 0.39%
SHEA Marina Village LLC 40,529,092 2.86%
Cypress Marina Heights Lp 17,652,823 1.25%
MDR TMI LLC 11,235,500 0.79%
Sierra Pacific Properties Inc. 10,745,893 0.76% Kohls Department Stores Inc. 10,201,683 0.72% Ocean Lodging LLC 9,430,822 0.67%
Cypress Gates Inc. 9,225,628 0.65%
ELS Properties Corp 8,308,480 0.59%
Brooks William H 8,103,703 0.57%
Marina Cypress Apts LLC 7,726,736 0.55%
Vega Nelson A Susan J 7,264,985 0.51%
Marina Beach Inn Inc. 6,929,932 0.49%
Vieira Linda M Manuel A 6,530,020 0.46%
Marina RV LLC 6,515,665 0.46%
Nehawandian Abolghassen Parido 6,219,872 0.44% Burch Roger A Michele 5,993,147 0.42%
Chee Kyo Nam Debbie K 5,766,807 0.41%
State Street Bank Trust Compan 5,543,480 0.39% Total Top 25 Taxpayers 581,050,562 20.47% 342,324,746 24.19% Total Taxable Value 2,838,045,534 100.00% 1,414,994,415 100.00% 2021-22 2012-13
Source: County Assessor data, MuniServices, LLC / Avenu Insights & Analytics

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City of Marina TABLE 15
Principal Employers
Business Name
Number of
Employees
Percent of Total
Employment (%)
Monterey Peninsula Unified School District* 256 2.06%
Walmart Supercenter** 225 1.81%
Target 180 1.45%
Monterey Regional Waste Management District 118 1.45%
City of Marina 96 0.95%
Monterey One Water Treatment Plant*** 91 0.77%
Scudder Roofing Company 80 0.73%
Kohl's 79 0.65%
REI - Recreational Equipment Inc. 57 0.64%
Michaels Craft Store 32 0.46%
Total Top 10 Employers 1,214 10.98%
Total City Labor Force (1) 12,400
Note: 2016-17 is the city's first ACFR publication; therefore, historical data is not available. ** Previous year's count applied. No response from business. *** Includes Marina and Monterey location.
2021-22
Source: MuniServices, LLC / Avenu Insights & Analytics Results based on direct correspondence with city’s local businesses. * Only schools located within the City of Marina.

1.) Total City Labor Force provided by EDD Labor Force Data.

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City of Marina
Overlapping Debt Table 16
2021-22 Assessed Valuation: 2,853,171,334$
Total Debt City’s Share of
DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEBT: 6/30/2022 % Applicable (1) Debt 6/30/22 Hartnell Joint Community College District 251,826,667$ 0.11% 271,973$ Monterey Peninsula Community College District 131,478,522$ 662.30% 8,707,823$ Monterey Peninsula Unified School District 217,095,903$ 1826.80% 39,659,080$ North Monterey County Unified School District 29,230,000$ 49.90% 145,858$ City of Marina 6,430,000$ 100.00% 6,430,000$ TOTAL DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEBT 55,214,734$ DIRECT AND OVERLAPPING GENERAL FUND DEBT:

Monterey County General Fund Obligations 129,741,182$ 3.71% 4,814,695$ Monterey County Office of Education General Fund Obligations 4,772,000$ 371.10% 177,089$ North Monterey County Unified School District Certificates of Participation 3,170,000$ 49.90% 15,818$ City of MarinA General Fund Obligations -$ 100.00% -$ (2) Monterey County Water Resources Agency General Fund Obligations 19,580,000$ 371.10% 726,614$ TOTAL GROSS DIRECT AND OVERLAPPING GENERAL FUND DEBT 5,734,216$ Less: Monterey County supported obligations 114,302$
TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND DEBT 5,619,914$ OVERLAPPING TAX INCREMENT DEBT (Successor Agencies): 51,275,000$ 67.574% to 100% 41,727,164$ TOTAL DIRECT DEBT 6,430,000$
TOTAL GROSS OVERLAPPING DEBT 96,246,114$
TOTAL NET OVERLAPPING DEBT 96,131,812$
GROSS COMBINED TOTAL DEBT 102,676,114$ (3)
NET COMBINED TOTAL DEBT 102,561,812$
(2) Excludes Certificates of Participation dated 7/7/22. (3) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations.

Ratios to 2021-22 Assessed Valuation:

Direct Debt ($6,430,000) 0.23%
Total Direct and Overlapping Tax and Assessment Debt 1.94% Total Direct Debt ($6,430,000) 0.23%
Gross Combined Total Debt 3.60%
Net Combined Total Debt 3.59%
Ratios to Redevelopment Successor Agency Incremental Valuation ($1,089,620,399):

Total Overlapping Tax Increment Debt 3.83%
Source: Avenu Insights & Analytics
California Municipal Statistics, Inc.
(1) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's total taxable assessed value.

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Chavan & Associates, LLP
Certified Public Accountants
15105 Concord Circle, Ste 130
Morgan Hill, CA 95037

CITY OF MARINA

CALIFORNIA

SINGLE AUDIT REPORT

FOR THE FISCAL YEAR
ENDED JUNE 30, 2022

EXHIBIT B
139

CITY OF MARINA

CALIFORNIA

SINGLE AUDIT REPORT

TABLE OF CONTENTS
JUNE 30, 2022
PAGE NO.

Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards................................. 1 - 2 Independent Auditor’s Report on Compliance for Each Major Federal Program and Report on Internal Control OverCompliance in Accordance, and Report on the Schedule of Expenditures of Federal Awards Required by Uniform Guidance.......................................................................................................... 3 - 5 Schedule of Expenditures of Federal Awards...................................................................... 6 Notes to Schedule of Expenditures of Federal Awards....................................................... 7 Schedule of Findings and Questioned Costs:

Section I - Summary of Auditor’s Results..................................................................... 8 Section II - Financial Statement Findings...................................................................... 9 Section III - Federal Awards Findings andQuestioned Costs....................................... 9 Summary Schedule of Prior Year Findings......................................................................... 10

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Page | 1 15105 Concord Circle, Ste 130 Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL

REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT

OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH

GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of the
City Council of the City of Marina
Marina, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the City of Marina (the “City”) as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements, and have issued our report thereon dated May 2, 2023.

Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control.

Accordingly, we do not express an opinion on the effectiveness of the City’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal contro l over financial reporting that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express

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[email protected] • www.cnallp.com
such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

Morgan Hill, California
May 2, 2023

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Page | 3 15105 Concord Circle, Ste 130 Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com

INDEPENDENT AUDITORS REPORT ON COMPLIANCE FOR THE MAJOR FEDERAL

PROGRAM AND REPORT ON INTERNAL CONTROL OVER COMPLIANCE, AND

REPORT ON THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS

REQUIRED BY THE UNIFORM GUIDANCE
To the Honorable Mayor and Members of the
City Council of the City of Marina
Marina, California
Report on Compliance for Each Major Federal Program
Opinion on Each Major Federal Program
We have audited the City of Marina (the City)'s compliance with the types of compliance requirements identified as subject to audit in the OMB Compliance Supplement that could have a direct and material effect on each of the City’s major federal programs for the year ended June 30, 2022. The City’s major federal programs are identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs.

In our opinion, the City complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2022.

Basis for Opinion on Each Major federal programs
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (GAAS); the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards); and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those standards and Uniform Guidance are further described in the Auditor’s Responsibilities for the Audit of Compliance section of our report.

We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each major federal programs. Our audit does not provide a legal determination of the City ’s compliance with the compliance requirements referred to above.

Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the de sign, implementation, and maintenance of effective internal control over compliance with the requirements of laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the City’s federal programs.

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[email protected] • www.cnallp.com
Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion on the City’s compliance based on our audit. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the compliance requirements referred to above is considered material, if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the City’s compliance with the requirements of each major federal programs.

In performing an audit in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance, we:
 Exercise professional judgment and maintain professional skepticism throughout the audit.  Identify and assess the risks of material noncompliance, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures incl ude examining, on a test basis, evidence regarding the City’s compliance with the compliance requirements referred to above and performing such other procedures as we considered necessary in the circumstances.  Obtain an understanding of the City’s internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to test and report on internal control over compliance in accordance with the Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control over compliance. Accordingly, no such opinion is expressed.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit.

Report on Internal Control over Compliance
A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of complian ce requirement of a federal program will not be prevented, or detected and corrected, on a timely basis.

A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance.

EXHIBIT B
144
Page | 5 15105 Concord Circle, Ste 130 Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
Our consideration of internal control over compliance was for the limited purpose described in the Auditor’s Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or signifi cant deficiencies in internal control over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified.

Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed.

The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose.

Report on Schedule of Expenditures of Federal Awards Required by the Uniform Guidance We have audited the financial statements of City as of and for the year ended June 30, 2022, and have issued our report thereon dated May 2, 2023, which contained an unmodified opinion on those financial statements. Our audit was performed for the purpose of formi ng an opinion on the financial statements as a whole. The accompanying schedule of expenditures of federal awards is presented for purposes of additional analysis as required by the Uniform Guidance and is not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements.

The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedule of expenditures of federal awards is fairly stated in all material respects in relation to the financial statements as a whole.

May 2, 2023
Morgan Hill, California

EXHIBIT B
145

CITY OF MARINA, CALIFORNIA

SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
See accompanying Notes to Schedule of Expenditures of Federal Awards. 6 Federal
Catalog Pass
Number Through Federal
Federal Grantor/Pass-Through Grantor/Program Title (CFDA) Number Expenditures U.S. DEPARTMENT OF TRANSPORTATION
Airport Improvement Program 20.106 N/A 212,500$
Total U.S. Department of Transportation 212,500
U.S. DEPARTMENT OF THE TREASURY
Passed-through program from the State of California
Coronavirus State and Local Fiscal Recovery Funds 21.027 (1) N/A 273,194 Total U.S. Department of the Treasury 273,194
U.S. DEPARTMENT OF HOMELAND SECURITY
Staffing for Adequate Fire and EmergencyResponse (SAFER) Grant Program 97.083 (1) N/A 284,800 Total U.S. Department of Homeland Security 284,800
TOTAL EXPENDITURES OF FEDERAL AWARDS 770,494$
(1) Audited as major program
Notes:
1) The City has elected not to use the 10 percent de minimus indirect cost rate allowed under Uniform Guidance. 2) There are no federal grants passed through to subrecipients.

EXHIBIT B
146

CITY OF MARINA, CALIFORNIA

NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
7 Note 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the City of Marina (the City) under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City and some amounts in this schedule may differ from amounts presented in the City’s financial statements.

Note 2. Summary of Significant Accounting Policies
Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. The City has elected not to use the 10 percent de- minimus indirect cost rate as allowed under Uniform Guidance.

Note 3. Relationship to the Basic Financial Statements The amounts reported in the accompanying schedule agree, in all material respects, to amounts reported within the City’s financial statements. F ederal award revenues are reported principally in the City’s financial statements as intergovernmental revenues.

Note 4. Relationship to Federal Financial Reports
Amounts reported in the accompanying schedule agree or can be reconciled with the amounts reported or to be reported in the federal financial reports.

Note 5. Pass-Through Entities' Identifying Number
When federal awards were received from a pass-through entity, the Schedule of Expenditures of Federal Awards shows, if available, the identifying number assigned by the pass-through entity. When no identifying number is shown, the City has determined that no identifying number is assigned for the program, or the City was unable to obtain an identifying number from the pass-through entity.

EXHIBIT B
147

CITY OF MARINA, CALIFORNIA

SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE FISCAL YEAR ENDED JUNE 30,2022
8 Section I - Summary of Auditor's Results
Financial Statements
Type of auditor's report issued
Internal control over financial reporting:

Material weaknesses? Yes x No
Significant deficiencies identified not
considered to be material weaknesses? Yes x None Reported Non-compliance material to financial statements noted? Yes x No Federal Awards
Internal control over major programs:

Material weaknesses? Yes x No
Significant deficiencies identified not
considered to be material weaknesses? Yes x None Reported Type of auditor's report issued on compliance over major programs Any audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516(a) Yes x No
Identification of Major Programs:

CFDA Numbers Name of Federal Program
Coronavirus State and Local Fiscal Recovery Funds
Staffing for Adequate Fire and Emergency
Response (SAFER) Grant Program
Dollar threshold used to distinguish between
type A and type B programs:

Auditee qualified as low risk auditee? Yes x No
Section II - Financial Statement Findings
No findings noted.

Section III - Federal Award Findings and Questioned Costs No findings noted.

Unmodified
Unmodified

21.027
750,000$

97.083

EXHIBIT B
148

CITY OF MARINA, CALIFORNIA

SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE FISCAL YEAR ENDED JUNE 30,2022
9 Section II - Financial Statement Findings
No findings noted.

Section III - Federal Award Findings and Questioned Costs No findings noted.

EXHIBIT B
149
Page | 1 115105 Concord Circle, Ste. 130, Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
To the City Council of the
City of Marina
We have audited the basic financial statements of the City of Marina as of and for the year ended June 30, 2022, and have issued our report thereon dated May 2, 2023. Professional standards require that we advise you of the following matters relating to our audit.

Our Responsibility under Generally Accepted Auditing Standards and Government Auditing Standards
As communicated in our engagement letter, our responsibility, as described by professional standards, is to form and express an opinion(s) about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in conformity with accounting principles generally accepted in the United States of America.

Our audit of the financial statements does not relieve you or management of your respective responsibilities.

Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement. An audit of financial statements includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control over financial reporting. Accordingly, as part of our audit, we considered the internal control of the City of Marina solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control.

We are also responsible for communicating significant matters related to the audit that are, in our professional judgment, relevant to your responsibilities in overseeing the financial reporting process. However, we are not required to design procedures for the purpose of identifying other matters to communicate to you.

Other Information in Documents Containing Audited Financial Statements Pursuant to professional standards, our responsibility as auditors for other information in documents containing City of Marina’s audited financial statements doesn’t extend beyond the financial information identified in the audit report, and we are not required to perform any procedures to corroborate such other information.

Our responsibility also includes communicating to you any information which we believe is a material misstatement of fact. Nothing came to our attention that caused us to believe that such information, or its manner of presentation, is materially inconsistent with the information, or manner of its presentation, appearing in the financial statements.

EXHIBIT C
150
Page | 2 115105 Concord Circle, Ste. 130, Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
Planned Scope and Timing of the Audit
We conducted our audit consistent with the planned scope and timing we previously communicated to management including updates throughout the audit process.

Qualitative Aspects of the Entity’s Significant Accounting Practices Significant Accounting Policies
Management has the responsibility to select and use appropriate accounting policies. A summary of the significant accounting policies adopted by the City of Marina is included in Note 1 to the financial statements. There have been no initial selection of accounting policies and no changes in significant accounting policies or their application during June 30, 2022 , other then the implementation of GASB 87 as disclosed in Note 1 in the City’s Annual Comprehensive Financial Report. No matters have come to our attention that would require us, under professional standards, to inform you about (1) the methods used to account for significant unusual transactions and (2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus.

Significant Accounting Estimates
Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s current judgments. Those judgments are normally based on knowledge and experience about past and current events and assumptions about future events.

Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ markedly from management’s current judgments.

The most sensitive accounting estimates affecting the financial statements include accumulated depreciation related to capital assets and unfunded liabilities and related expenses based on assumptions in actuarial studies performed on defined benefit plans (GASB 68 and 75).

We evaluated the key factors and assumptions used to develop the identified estimates and determined that it is reasonable in relation to the basic financial statements taken as a whole and in relation to the applicable opinion units.

Financial Statement Disclosures
Certain financial statement disclosures involve significant judgment and are particularly sensitive because of their significance to financial statement users. The most sensitive disclosures affecting City of Marina’s financial statements relate to cash and investments, receivables, capital assets, long-term liabilities, leases and defined benefit plans.

EXHIBIT C
151
Page | 3 115105 Concord Circle, Ste. 130, Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
Significant Difficulties Encountered during the Audit
We encountered no significant difficulties in dealing with management relating to the performance of the audit.

Uncorrected and Corrected Misstatements
For purposes of this communication, professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that we believe are trivial, and communicate them to the appropriate level of management. None of the misstatements identified by us as a result of our audit procedures and corrected by management were material, either individually or in the aggregate, to the financial statements taken as a whole or applicable opinion units.

In addition, professional standards require us to communicate to you all material, corrected misstatements that were brought to the attention of management as a result of our audit procedures The material misstatements that we identified as a result of our audit procedures were brought to the attention of, and corrected by, management.

Disagreements with Management
For purposes of this letter, professional standards define a disagreement with management as a matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or auditing matter, which could be significant to the City of Marina’s financial statements or the auditor’s report. No such disagreements arose during the course of the audit.

Representations Requested from Management
We have requested certain written representations from management, which are included in a separate letter dated May 2, 2023.

Management’s Consultations with Other Accountants
In some cases, management may decide to consult with other accountants about auditing and accounting matters. Management informed us that, and to our knowledge, there were no consultations with other accountants regarding auditing and accounting matters.

Other Significant Findings or Issues
In the normal course of our professional association with the City of Marina we generally discuss a variety of matters, including the application of accounting principles and auditing standards, operating and regulatory conditions affecting the entity, and operational plans and strategies that may affect the risks of material misstatement. None of the matters discussed resulted in a condition to our retention as the City of Marina’s auditors.

EXHIBIT C
152
Page | 4 115105 Concord Circle, Ste. 130, Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
This report is intended solely for the information and use of the Council and management of the City of Marina and is not intended to be and should not be used by anyone other than these specified parties.

May 2, 2023
Morgan Hill, California

EXHIBIT C
153
Page | 1 15105 Concord Circle, Suite 130 Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
To the City Council and Management of the
City of Marina
Introduction and Internal Controls
In planning and performing our audit of the basic financial statements of the City of Marina (the “City”) as of and for the year ended June 30, 2022, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, we considered the City’s internal control over financial reporting (internal control) as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control over financial reporting.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the City’s financial statements will not be prevented, or detected and corrected on a timely basis.

Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses.

Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

Upcoming Accounting Pronouncements
The following is a summary of new accounting pronouncements from the Governmental Accounting Standards Board:

GASB Statement No. 94, Public-Private Partnerships and Public-Public Partnerships and Availability Payment Arrangements
The primary objective of this Statement is to improve financial reporting by addressing issues related to public-private and public-public partnership arrangements (PPPs). As used in this Statement, a PPP is an arrangement in which a government (the transferor) contracts with an operator (a governmental or nongovernmental entity) to provide public services by conveying control of the right to operate or use a nonfinancial asset, such as infrastructure or other capital asset (the underlying PPP asset), for a period of time in an exchange or exchange-like transaction. Some PPPs meet the definition of a service concession arrangement (SCA), which the Board defines in this Statement as a PPP in which (1) the operator collects and is compensated by fees from third parties; (2) the transferor determines or has the ability to modify or approve which services the operator is required to provide, to whom the operator is required to provide the services, and the prices or rates that can be charged for the services; and (3) the transferor is entitled to significant residual interest in

EXHIBIT D
154
Page | 2 15105 Concord Circle, Suite 130 Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
the service utility of the underlying PPP asset at the end of the arrangement. This Statement also provides guidance for accounting and financial reporting for availability payment arrangements (APAs). As defined in this Statement, an APA is an arrangement in which a government compensates an operator for services that may include designing, constructing, financing, maintaining, or operating an underlying nonfinancial asset for a period of time in an exchange or exchange-like transaction. The requirements of this Statement are to be effective for financial statements for periods beginning after June 15, 2022. Earlier application is encouraged.

GASB Statement No. 96, Subscription-Based Information Technology Arrangements GASB 96 provides guidance on accounting for Subscription-Based Information Technology Arrangements (SBITA) where the government contracts for the right to use another party’s software.

The standards for SBITAs are based on the standards established in GASB Statement No. 87, Leases. GASB 96 is effective for fiscal years beginning after June 15, 2022.

GASB Statement No. 99, Omnibus 2022
Omnibus statements are issued by GASB to address practice issues identified after other standards have been approved for implementation. Omnibus statements “clear up the loose ends” for recent prior statements GASB has issued. This Omnibus addresses recent pronouncements, including GASB 87 – Leases, GASB 94 – Public-Private and Public-Public Partnerships and Availability Payment Arrangements, and GASB 96 – Subscription-Based Information Technology Arrangements.

Effective Date: The requirements of this Statement are effective as follows:
 The requirements related to extension of the use of LIBOR, accounting for SNAP distributions, disclosures of nonmonetary transactions, pledges of future revenues by pledging governments, clarification of certain provisions in Statement 34, as amended, and terminology updates related to Statement 53 and Statement 63 are effective upon issuance.  The requirements related to leases, PPPs, and SBITAs are effective for fiscal years beginning after June 15, 2022, and all reporting periods thereafter.  The requirements related to financial guarantees and the classification and reporting of derivative instruments within the scope of Statement 53 are effective for fiscal years beginning after June 15, 2023, and all reporting periods thereafter.

GASB Statement No. 100, Accounting Changes and Error Corrections—an amendment of GASB Statement No. 62
This Statement defines accounting changes as changes in accounting principles, changes in accounting estimates, and changes to or within the financial reporting entity and describes the transactions or other events that constitute those changes. This Statement also prescribes the accounting and financial reporting for (1) each type of accounting change and (2) error corrections in previously issued financial statements. The requirements of this Statement are effective for accounting changes and error corrections made in fiscal years beginning after June 15, 2023, and all reporting periods thereafter. Earlier application is encouraged.

EXHIBIT D
155
Page | 3 15105 Concord Circle, Suite 130 Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
GASB Statement No. 101, Compensated Absences
This Statement requires that liabilities for compensated absences be recognized for (1) leave that has not been used and (2) leave that has been used but not yet paid in cash or settled through noncash means. A liability should be recognized for leave that has not been used if (a) the leave is attributable to services already rendered, (b) the leave accumulates, and (c) the leave is more likely than not to be used for time off or otherwise paid in cash or settled through noncash means. Leave is attributable to services already rendered when an employee has performed the services required to earn the leave. Leave that accumulates is carried forward from the reporting period in which it is earned to a future reporting period during which it may be used for time off or otherwise paid or settled. In estimating the leave that is more likely than not to be used or otherwise paid or settled, a government should consider relevant factors such as employment policies related to compensated absences and historical information about the use or payment of compensated absences. However, leave that is more likely than not to be settled through conversion to defined benefit postemployment benefits should not be included in a liability for compensated absences.

This Statement requires that a liability for certain types of compensated absences—including parental leave, military leave, and jury duty leave—not be recognized until the leave commences.

This Statement also requires that a liability for specific types of compensated absences not be recognized until the leave is used.

This Statement also establishes guidance for measuring a liability for leave that has not been used, generally using an employee’s pay rate as of the date of the financial statements. A liability for leave that has been used but not yet paid or settled should be measured at the amount of the cash payment or noncash settlement to be made. Certain salary-related payments that are directly and incrementally associated with payments for leave also should be included in the measurement of the liabilities.

With respect to financial statements prepared using the current financial resources measurement focus, this Statement requires that expenditures be recognized for the amount that normally would be liquidated with expendable available financial resources. The requirements of this Statement are effective for fiscal years beginning after December 15, 2023, and all reporting periods thereafter.

Purpose of Communication
The purpose of this communication, which is an integral part of our audit, is to describe, for management and those charged with governance, the scope of our testing of internal control and the results of that testing, and communicate additional information that may be relevant to future City decision making. Accordingly, this communication is not intended to be and should not be used for any other purpose.

May 2, 2023
Morgan Hill, California

EXHIBIT D
156
May 8, 2023 Item No. 11a

Honorable Mayor and Members City Council Meeting
of the Marina City Council of May 16, 2023

CITY COUNCIL OPEN PUBLIC HEARING, TAK E TESTIMONY
FROM THE PUBLIC AND CONSIDER ADOPTING RESOLUTION NO.
2023-, CONFIRMING DIAGRAM, ASSE SSMENT AND ORDERING
LEVY OF $180.78 FOR THE FY 2023-24 ASSESSMENT FOR THE

CYPRESS COVE II LANDSCAPE MAINTENANCE ASSESSMENT
DISTRICT, AND; AUTHORIZING THE CITY CLERK TO FILE A

CERTIFIED COPY OF THE DIAGRAM AND ASSESSMENT WITH

THE MONTEREY COUNTY AUDITOR -CONTROLLER PRIOR TO
AUGUST 1, 2023

REQUEST:

It is requested that the City Council:

1. Open public hearing and take testimony from the public;

2. Consider adopting Resolution No. 20 23-, confirming diagram, assessment and ordering levy of $180.78 for the FY 2023-24 assessment for the Cypress Cove II Landscape Maintenance Assessment District, and;

3. Authorize City Clerk to file a certified copy of the diagram and assessment with the Monterey County Auditor-Controller prior to August 1, 2023.

BACKGROUND:

At the regular meeting of June 16, 1987, the City Council adopted Resolution No. 1987-23, ordering the formation of the Cypress Cove II Landscape Maintenance Assessment District pursuant to Streets and Highway Code §22594 and the Land scaping and Lighting Act of 1972 to maintain certain improvements required of new development as a condition of the subdivision approvals.

The Landscaping and Lighting Act of 1972 requires an annual update report to be prepared, which includes the costs to maintain the imp rovements of the Cypress Cove II Landscape Maintenance Assessment District and what the proposed assessments will be to provide for that maintenance.

At the regular meeting of May 2, 2023 , the City Council adopted Resolution No. 2023-39, receiving the FY 2023-24 Engineer’s Report for the Cypress Cove II Landscape Maintenance Assessment District and calling a public hearing for May 16, 2023 on the proposed intention to levy and collect assessments for the District.

ANALYSIS:

Based on the Engineer’s Report (Exhibit A), the annual assessment has been set in the amount of $180.78. This is the same amount as last year’s assessment and is the upper li mit set by the assessment district at its formation in 1987. This current annual assessment of $180.78 has not changed since 2004.
1 At last year’s public hearing on A pril 5, 2023, s taff presented a seri es of District improvements to the Pu blic to be conducted over the following three years. Due to unprecedented weather events during the Winter of 2022-23, emergency tree related safety measures were required to be conducted. These un expected expenditures delayed the construction of the proposed improvements due to lack of funds in the District’s accounts. Pending any further weather- related mi tigation measures, staff i s recommending continuing the proposed series of improvements as plann ed for this coming fiscal year. Regular maintenance of the existing District and updates to the District website will continue.

FISCAL IMPACT:

Should the City Council approve this requ est, the anticipated re venue for the FY 2023-24 assessment levy is $19,885.80 for the purpose of the landscape maintenance district.

Levying of the assessment is the first step to collect the assessments to fund the landscape maintenance district.

CONCLUSION:

This request is submitted for City Council consideration and possible action.

Respectfully submitted,

_____________________________
Edrie Delos Santos, P.E.

Senior Engineer
Public Works Department
City of Marina

REVIEWED/CONCUR:

_____________________________
Brian McMinn, P.E., P.L.S.

Public Works Director/City Engineer
City of Marina

_____________________________
Layne P. Long
City Manager
City of Marina

2 RESOLUTION NO. 2023-

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MARINA
CONFIRMING DIAGRAM, ASSESSMENT AND ORDERING LEVY OF $180.78 FOR FY 2023-24 ASSESSMENT FOR THE CYPRESS COVE II LANDSCAPE

MAINTENANCE ASSESSMENT DISTRICT AND AUTHORIZING THE CITY CLERK

TO FILE A CERTIFIED COPY OF THE DIAGRAM AND ASSESSMENT WITH THE MONTEREY COUNTY AUDITOR-CONTROLLER PRIOR TO AUGUST 1, 2023

WHEREAS, on June 16, 1987, the City ordered the formation of the Cypress Cove II Landscape Maintenance District pursuant to Streets and Highway Code §22594, and;

WHEREAS, the City Engineer filed t he Engineer's Report, fiscal year 2023-2024, required by Streets and Highways Code §22622 for said District, and;

WHEREAS, on May 2, 2023, the City received said Engineer's Report, declared its intention to levy and collect assessments wi thin said District and set a he aring to ascertain whether the City shall order the levy and assessment of said assessment, and;

WHEREAS, said public hearing was held on May 16, 2023, and;

WHEREAS, levying of the as sessment is the first step to collect th e assessments to fund the landscape maintenance districts, and;

WHEREAS, provisions of this resolut ion are severable and if anyone provision is determined to be impermissible then the remainder of the resolution shall remain in full force and effect, and;

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Marina that:

1. The City does he reby confirm the d iagram and assessment as described in the Engineer's Report on file with the City Clerk.

2. The Ci ty does hereby order the levy and collec tion of sa id a ssessment, $180.78, for FY 2023-24 assessment for Cypress Cove I I Landscape Maintenance Assessment District.

3. It is the intention of the City of Marina that any monetary advance made by it during any fiscal year to cov er a deficit in the im provement fund of the Cypress Cove II Landscape Maintenance Assessment District shall be repaid from the next annual assessments levied and collected within the Cypress Cove II Landscape Maintenance Assessment District.

4. The City Clerk i s hereby authorized and directed to file a certified copy of said di agram and assessment with the Monterey County Au ditor prior to August 1, 2023.

3 Resolution No. 2023-
Page Two

PASSED AND ADOPTED by the City Council of the City of Ma rina at a regular meeting duly held on the 16th day of May 2023, by the following vote:

AYES: COUNCIL MEMBERS:

NOES: COUNCIL MEMBERS:

ABSENT: COUNCIL MEMBERS:

ABSTAIN: COUNCIL MEMBERS:

_____________________________
Bruce C. Delgado, Mayor
ATTEST:

__________________________________
Anita Sharp, Deputy City Clerk

4 CI

TY OF MARINA

MONTEREY COUNTY

CALIFORNIA

CY PRESS COVE II

LANDSCAPE MAINTENANCE

ASSESSMENT DISTRICT

ENGINEER'S REPORT
FY 2023-2024
C
ouncil Members:

B. DELGADO, MAYOR
B. MCCARTHY L. VISSCHER
K. BI
ALA C. MEDINA DIRKSEN
LAYNE LONG City Manager
ANITA SHEPHERD-SHARP Deputy City Clerk
HEIDI QUINN City Attorney
BRIAN MCMINN Public Works Director/City Engineer
Prepared By
City of Marina
Public Works Department

EXHIBIT A
5 CYPRESS COVE II

LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

FY 2023-2024

This report concerns the Cypress Cove II Landscape Maintenance Assessment District.

The Assessment District consists of the Cypress Cove II Subdivision located in the westerly portion of the City of Marina just east of the Highway I and Reservation Road interchange. The subdivision is bounded on three sides by Abdy Way, Cardoza Avenue, and Beach Road, contains 110 lots, a percolation pond parcel (Parcel B), and an emergency access road (Parcel C).

The subdivision consists of 110 single family homes complete with underground utilities, water and wastewater facilities, street and drainage improvements, and landscaping. The Assessment District has been formed for the purpose of maintaining the exterior boundary landscaping and retaining walls, installed and paid for by the developer.

This report has been prepared pursuant to Sections 22565 through 22574 of the Streets and Highways Code (Landscaping and Lighting Act of 1972).

The existing improvements to be maintained which are the subject of this report, are briefly described as follows:

All exterior landscaping elements located adjacent to the subdivision boundaries along Abdy Way, Cardoza Avenue, and Beach Road and outside the chain link fence on Parcel B are considered as the improvements included in the Assessment District.

Landscaping elements consist of hydroseeded areas, groundcover, shrubs, trees, irrigation pipelines, controllers, valves, sprinklers, masonry retaining walls, and electrical service. Plans and specifications showing these existing improvements which are to be maintained are on file in the City of Marina Public Works Division.

This report includes the following attached exhibits:

EXHIBIT A - An assessment diagram and boundary map showing all of the parcels of the real property within the Assessment District. The diagram is keyed to Exhibit C by the separate "Assessment Number".

EXHIBIT B - Spreadsheet showing estimated costs for FY 2022-2023 and estimated costs for FY 2023-2024 and FY 2024-2025.

EXHIBIT C - An assessment roll showing the amount proposed to be assessed against each parcel of real property within this Assessment District. In addition to the Assessor's Parcel Number each parcel has been assigned a separate "Assessment Number" which corresponds to that parcels lot number. 6 Page Two
Engineer's Report
Cypress Cove II Landscape Maintenance Assessment District

EXHIBIT D - Method of determination of assessment spread.

Respectfully Submitted,

_____________________________
Brian McMinn, P.E., P.L.S.

Public Works Director/City Engineer

April 2023

7 Abdy Way
Cove Way
Seal Ct
Cardoza Ave
Dolphin Cir
Coral Way
Pebble Pl
Sandpiper Way
Juniper Ct
Dolphin Cir
112
001
056
066 065
059
030
111
015
058
024
110
023
048
007 016
006
046047057
017
045
033
094
073
011
032
102
009
084
074
004
034
010
013014
012
031
035
008
002
093
003
005
060
071
038
061
044
036
051072
020
037
055
062
019018
103
021022
054
068
070
028
067
049
069
089 083
041
043
050
042
079
040
086
090
085
087
039
109
025026
053
076
100
064
092
027
063
095096
106
101
088
078
108
098099
104
107
091
077
052
097
105
075
081
029
082
080
Cypress Cove II
Landscape Maintenance District
0 100 200
Feet
±
¬«1
Del Monte Blvd California Ave
Crescent Ave
Hillcrest Ave
Patton Parkway
Reindollar Ave
Carmel Ave
De Forest Rd
Cardoza Ave
Marina Dr
Reservation Rd
Abdy Way
Paddon Pl
Bayer Dr
±
Vicinity Map
Boundary and Landscaped Area Map
Legend
Cypress Cove II
Boundary
Landscaped Area

2.00 Acres
Parcels
Percolation Lot
Roads
Date: April 15th, 2009
Notes: The City of Marina assume no warranty or legal responsibility for the information contained on this map. Data and information represented on this map is subject to updates/modifications and may not be complete or appropriate for all purposes. The City of Marina and Monterey County GIS should be queried for the most current information. Parcel data is of mapping grade only and does not represent reliable locations or legal boundaries.

Sources: Monterey County GIS, City of Marina CDD
Map Projection: California State Plane Z one IV, NAD 83 (Feet)

EXHIBIT A
8 Estimates Estimates Estimates
Summary FY 2022-2023 FY 2023-2024 FY 2024-2025
Beginning Cash Balance, July 1st 2,206$ 4,626$ 690$ (a)Total Assessment Revenues (110 Parcels) 19,886$ 19,886$ 19,886$ Expenditures
Contractor Services
(b) Landscape Maintenance Contract 6,551$ 6,747$ 6,950$ Utilities 925$ 925$ 1,000$ Large Tree Trimming 4,990$ 2,500$ 2,500$ Extraordinary Maintenance -$ 8,650$ 2,880$ Tree/Plant Replacement -$ -$ 775$ Administrative Services
Supervision -$ -$ -$ Administration (Incl. Engineers Report) 2,000$ 2,000$ 2,000$ Cost Allocation Plan Charges 2,750$ 2,750$ 2,750$ Legal Advertising 250$ 250$ 250$ Total Expenditures 17,466$ 23,822$ 19,105$ (c)Net Change in Fund Balance 2,420$ (3,936)$ 781$ (d)Ending Fund Balance, June 30th 4,626$ 690$ 1,471$

EXHIBIT B
(d) End Fund Balance equals the Net Change in Fund Balance plus the Beginning Cash Balance of that Fiscal Year. (c) Net Change in Fund Balance equals the Total Expenditures subtracted from Total Assessment Revenue for that Fiscal Year.
(b) Maintenance Costs are shown as increasing per fiscal year by an estimated Consumer Cost Index (CPI) of 3% as allowed by the Contract Specifications.
(a) Maximum Assessment per Prop 218 is $180.78 per parcel. The assessment amount for FY23-24 is consistent with FY22-23 at $180.78 per parcel. Final total assessment revenue includes interest income totals.

CYPRESS COVE II LANDSCAPE MAINTENANCE DISTRICT
9 EXHIBIT C

CYPRESS COVE II

LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL
FOR FISCAL YEAR 2023-2024

DIAGRAM &
ASSESSMENT NO.

ASSESSOR'S

PARCEL NUMBER

NET

ASSESSMENT
1 33-076-01

$180.78

2 33-076-02

$180.78

3 33-076-03

$180.78

4 33-076-04

$180.78

5 33-076-05

$180.78

6 33-076-06

$180.78

7 33-076-07

$180.78

8 33-076-08

$180.78

9 33-076-09

$180.78

10 33-076-10

$180.78

11 33-076-11

$180.78

12 33-076-12

$180.78

13 33-076-13

$180.78

14 33-076-14

$180.78
10 CYPRESS COVE II

LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT ASSESSMENT ROLL FOR FISCAL YEAR 2023-2024

DIAGRAM &
ASSESSMENT NO.

ASSESSOR'S

PARCEL NUMBER

NET

ASSESSMENT
15 33-076-15

$180.78

16 33-076-16

$180.78

17 33-076-17

$180.78

18 33-076-18

$180.78

19 33-076-19

$180.78

20 33-076-20

$180.78

21 33-076-21

$180.78

22 33-076-22

$180.78

23 33-076-23

$180.78

24 33-076-24

$180.78

25 33-076-25

$180.78

26 33-076-26

$180.78

27 33-076-27

$180.78

28 33-076-28

$180.78

29 33-076-29

$180.78

30 33-076-30

$180.78

31 33-076-31

$180.78

32 33-076-32

$180.78
11 CYPRESS COVE II

LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT ASSESSMENT ROLL FOR FISCAL YEAR 2023-2024

DIAGRAM &
ASSESSMENT NO.

ASSESSOR'S

PARCEL NUMBER

NET

ASSESSMENT
33 33-076-33

$180.78

34 33-076-34

$180.78

35 33-076-35

$180.78

36 33-076-36 $180.78

37 33-076-37

$180.78

38 33-076-38

$180.78

39 33-076-39

$180.78

40 33-076-40

$180.78

41 33-076-41

$180.78

42 33-076-42

$180.78

43 33-076-43

$180.78

44 33-076-44

$180.78

45 33-076-45

$180.78

46 33-076-46 $180.78

47 33-076-47

$180.78

48 33-076-48

$180.78

49 33-076-49 $180.78

50 33-076-50 $180.78
12 CYPRESS COVE II

LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT ASSESSMENT ROLL FOR FISCAL YEAR 2023-2024

DIAGRAM &
ASSESSMENT NO.

ASSESSOR'S

PARCEL NUMBER

NET

ASSESSMENT
51 33-076-51

$180.78

52 33-076-52

$180.78

53 33-076-53

$180.78

54 33-076-54

$180.78

55 33-076-55

$180.78

56 33-076-56

$180.78

57 33-076-57

$180.78

58 33-076-58

$180.78

59 33-076-59

$180.78

60 33-076-60

$180.78

61 33-076-61

$180.78

62 33-076-62

$180.78

63 33-076-63

$180.78

64 33-076-64

$180.78

65 33-076-65

$180.78

66 33-076-66

$180.78

67 33-076-67

$180.78

68 33-076-68

$180.78
13 CYPRESS COVE II

LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT ASSESSMENT ROLL FOR FISCAL YEAR 2023-2024

DIAGRAM &
ASSESSMENT NO.

ASSESSOR'S

PARCEL NUMBER

NET

ASSESSMENT
69 33-076-69

$180.78

70 33-076-70

$180.78

71 33-076-71

$180.78

72 33-076-72

$180.78

73 33-076-73 $180.78

74 33-075-01

$180.78

75 33-075-02

$180.78

76 33-075-03

$180.78

77 33-075-04

$180.78

78 33-075-05

$180.78

79 33-075-06

$180.78

80 33-075-07

$180.78

81 33-075-08

$180.78

82 33-075-09

$180.78

83 33-075-10 $180.78

84 33-075-11

$180.78

85 33-075-12

$180.78

86 33-075-13

$180.78
14 CYPRESS COVE II

LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT ASSESSMENT ROLL FOR FISCAL YEAR 2023-2024

DIAGRAM &
ASSESSMENT NO.

ASSESSOR'S

PARCEL NUMBER

NET

ASSESSMENT
87 33-075-14

$180.78

88 33-075-15 $180.78

89 33-075-16

$180.78

90 33-075-17 $180.78

91 33-075-18

$180.78

92 33-075-19

$180.78

93 33-075-20

$180.78

94 33-076-74

$180.78

95 33-076-75

$180.78

96 33-076-76

$180.78

97 33-076-77

$180.78

98 33-076-78

$180.78

99 33-076-79

$180.78

100

33-076-80

$180.78

101

33-076-81

$180.78

102

33-076-82

$180.78

103

33-076-83

$180.78

104

33-076-84

$180.78
15 CYPRESS COVE II

LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT ASSESSMENT ROLL FOR FISCAL YEAR 2023-2024

DIAGRAM &
ASSESSMENT NO.

ASSESSOR'S

PARCEL NUMBER

NET

ASSESSMENT
105

33-076-85

$180.78

106

33-076-86

$180.78

107

33-076-87

$180.78

108

33-076-88

$180.78

109

33-076-89

$180.78

110

33-076-90

$180.78

111

EXEMPT

112

EXEMPT

16 E X H I B I T D

METHOD OF DETERMINATION OF ASSESSMENT SPREAD

The maintenance of the subdivision exterior boundary landscaping benefits the Assessment District as a whole. Therefore, the assessment spread should be based on the number of building sites or lots contained within the district.

Assessments shall be spread over the 110 lots indicated on the Assessment Diagram (Exhibit A).

17 May 8, 2023 Item No. 11b

Honorable Mayor and Members City Council Meeting
of the Marina City Council of May 16, 2023

CITY COUNCIL OPEN PUBLIC HEARING, TAK E TESTIMONY
FROM THE PUBLIC AND CONSIDER ADOPTING RESOLUTION NO.
2023-, CONFIRMING DIAGRAM, ASSE SSMENT AND ORDERING
LEVY OF $ 182.42 FOR FY 2023-24 ASSESSMENT FOR THE

SEABREEZE LANDSCAPE MAINTENANCE ASSESSMENT
DISTRICT, AND; AUTHORIZING THE CITY CLERK TO FILE A

CERTIFIED COPY OF THE DIAGRAM AND ASSESSMENT WITH

THE MONTEREY COUNTY AUDITOR -CONTROLLER PRI OR TO
AUGUST 1, 2023

REQUEST:

It is requested that the City Council:

1. Open public hearing and take testimony from the public;

2. Consider adopting Resolution No. 20 23-, confirming diagram, assessment and ordering levy of $18 2.42 for FY 2023-24 assessment fo r Seabreeze Landscape Maintenance Assessment District, and;

3. Authorize the City Clerk to file a certified copy of the diagram and assessment with the Monterey County Auditor-Controller prior to August 1, 2023

BACKGROUND:

At the regula r meeting of June 4, 1996, the City Council adopted Resolution No. 1996 -62, ordering the formation of the Seabreeze Landscape Maintenance Assessment District pursuant to Streets and Highway Code §22594 and the Landscaping and Lighting Act of 1972 to maintain certain improvements required of new development as a condition of the subdivision approvals.

The Landscaping and Lighting Act of 1972 requires an annual update report to be prepared which includes the costs to maintain the improv ements of the Districts and what the proposed assessments will be to provide for that maintenance.

At the regular meeting of May 2, 2023 , the City Council adopted Resolution No. 2023-41, receiving the FY 2023-24 Engineer’s Report for Seabreeze Landscape Maintenance Assessment District and calling a public hearing for May 1 6, 2023 on the proposed intention to levy and collect assessments for the District.

ANALYSIS:

Based on the Engin eer’s Report (Exhibit A) , the assessment has been set in the amount of $182.42. This is the same amount as last year’s assessment and is the upper limit set by the assessment district at its formation in 1996.

1 Staff has been coordinating with va rious District homeo wners to discuss further beautification and improvements to the D istrict. Due to public safety concerns, sound wall reconstruction began in Fiscal Year 2021 -22. Staff is recommending the continued asse ssment of $182.42 in order to obtain the required fund balance to continue these improvements.

FISCAL IMPACT:

Should th e City Council approve this request, the anticipated rev enue for the FY 2023-24 assessment levy is $6,749.54 for the purpose of the landscape maintenance district.

Levying of the assessment is the first step to collect the assessments to fund the landscape maintenance district.

CONCLUSION:

This request is submitted for City Council consideration and possible action.

Respectfully submitted,

____________________________
Edrie Delos Santos, P.E.

Senior Engineer
Public Works Department
City of Marina

REVIEWED/CONCUR:

____________________________
Brian McMinn, P.E., P.L.S.

Public Works Director/City Engineer
City of Marina

_____________________________
Layne P. Long
City Manager
City of Marina

2 RESOLUTION NO. 2023-

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MARINA
CONFIRMING DIAGRAM AND ASSESSMENT AND ORDERING LEVY OF $182.42 FOR FY 2023-24 ASSESSMENT FOR THE SEABREEZE LANDSCAPE

MAINTENANCE ASSESSMENT DISTRICT AND AUTHORIZING THE CITY CLERK

TO FILE A CERTIFIED COPY OF THE DIAGRAM AND ASSESSMENT WITH THE MONTEREY COUNTY AUDITOR-CONTROLLER PRIOR TO AUGUST 1, 2023

WHEREAS, on June 4, 1996 , the City ordered the formation of the Seabreeze Landscape Maintenance District pursuant to Streets and Highway Code §22594, and;

WHEREAS, the Cit y Engineer filed the Engineer's Report, fiscal y ear 2023-24, required by Streets and Highways Code §22622 for said District, and;

WHEREAS, on May 2, 2023, the City approved said Engineer's Report, declared its intention to levy and collect assess ments within said District and set a hearing to ascert ain whether the City shall order the levy and assessment of said assessment, and;

WHEREAS, said public hearing was held on May 16, 2023 and;

WHEREAS, levying of the assessment is the first step to col lect the assessments to fund the landscape maintenance districts, and;

WHEREAS, provisions of this resolution are severable and if anyone provision is determined to be impermissible then the remainder of the resolution shall remain in full force and effect, and;

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Marina that:

1. The City does hereby confirm the diagram and assessment as described in the Engineer's Report on file with the City Clerk.

2. The City does hereby order the levy and collection of said assessment, $182.42, for FY 2023-24 assessment for Seabreeze Landscape Maintenance Assessment District.

3. It is the intention of the City of Marina that any monetary advance made by it during any fiscal year to co ver a deficit in the improvement fund of the Seabreeze Landscape Maintenance Assessment District shall be repaid from the next annual assessments levied and collected w ithin the Seabreeze Landscape Maintenance Assessment District.

4. The City Clerk is hereby authorized and directed to file a certified copy of said diagram and assessment with the Monter ey County Auditor prior to August 1, 2023.

3 Resolution No. 2023-
Page Two

PASSED AND ADOPTED by the City Council of the City of Marina at a regular meeting duly held on the 16th day of May 2023, by the following vote:

AYES: COUNCIL MEMBERS:

NOES: COUNCIL MEMBERS:

ABSENT: COUNCIL MEMBERS:

ABSTAIN: COUNCIL MEMBERS:

_____________________________
Bruce C. Delgado, Mayor
ATTEST:

__________________________________
Anita Sharp, Deputy City Clerk

4 CI

TY OF MARINA

MONTEREY COUNTY

CALIFORNIA

SEABREEZE LANDSCAPE
MA

INTENANCE

ASSESSMENT DISTRICT

ENGINEER'S REPORT
FY 2023-2024
C
ouncil Members:

B. DELGADO, MAYOR
L. VISSCHER B. MCCARTHY
K. BI
ALA C. MEDINA DIRKSEN
LAYNE LONG City Manager
ANITA SHEPHERD-SHARP Deputy City Clerk
HEIDI QUINN City Attorney
BRIAN MCMINN Public Works Director/City Engineer
Prepared By
City of Marina
Public Works Department

EXHIBIT A
5 SEABREEZE

LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

FY 2023-2024

This report concerns the Seabreeze Landscape Maintenance Assessment District.

This report has been prepared pursuant to Section 22265 through 22574 of the Streets and Highway Code (Landscaping and Landscaping Act 1972).

The Assessment District encompasses the Seabreeze subdivision located on the north side of Beach Road and west of Marina Drive in the City of Marina, County of Monterey, State of California.

The subdivision consists of 37 residential lots, with all underground utilities (water, sewer, gas and electric) street and drainage improvements. The Assessment District has been formed for the purpose of maintaining the proposed landscape areas including the street scape along the Northerly side of Beach Road adjacent to Seabreeze Subdivision, Tract No. 1251 and the buffer along the westerly side of the Southern Pacific Railroad within the rear portion of Lots 18 through 21 of the Seabreeze subdivision. Lot 38 is dedicated to the City for the maintenance of the drainage percolation basin. These improvements were installed and paid for by the developer.

A brief description of the improvements that are to be maintained by the Assessment District are:

All landscaping elements, irrigation systems and services thereto located along the Northerly side of Beach Road, the westerly of Southern Pacific Railroad and the easterly of the percolation pond. Also included is the maintenance, repair and replacement of the sound walls. Landscaping elements consist of ground cover, shrubs, trees, irrigation pipelines, controllers, valves, emitters, sprinklers and appurtenant improvements all as delineated on the plans with the City of Marina and titled Seabreeze Streetscape and Buffer Plans prepared by Isaacson Wood & Associates, Landscape Architecture.

This report includes the following attached exhibits:

EXHIBIT A - An Assessment Diagram and Boundary Map showing all the parcels of the real property within the Assessment District and location of the landscaped areas to be maintained by the Assessment District. The Diagram is keyed to Exhibit C by the separate “Assessment District”.

EXHIBIT B - Spreadsheet showing estimated costs for FY 2022-2023, FY 2023-2024 and FY 2024- 2025.

EXHIBIT C - An assessment roll showing the amount proposed to be assessed against each parcel of real property within this Assessment District. In addition to the Assessors Parcel Number each parcel has been assigned a separate “Assessment Number” which corresponds to the lot number of each parcel.

6 Page Two
Engineer's Report
Seabreeze Landscape Maintenance Assessment District

EXHIBIT D - Method of determination of assessment spread.

Respectfully submitted

_______________________
Brian McMinn, P.E., P.L.S.

Public Works Director/City Engineer
April 2023

7 Beach Rd
Lillian Pl
Starfish CtDolphin Cir
Sandpiper Way
Marina Dr
Sand Dollar Ct
Frontage Rd
Marina Dr
038 001
018
032
017
009
006 021
022
010
004
033
007
014013
003
037 002
012
023
011
028
016
015
024
005
031 029 025026027
008
020
034
030
035
019
036
Seabreeze
Landscape Maintenance District
0 50 100
Feet
±
¬«1
Del Monte Blvd California Ave
Crescent Ave
Hillcrest Ave
Patton Parkway
Reindollar Ave
Carmel Ave
De Forest Rd
Cardoza Ave
Marina Dr
Reservation Rd
Abdy Way
Paddon Pl
Bayer Dr
±
Vicinity Map
Boundary and Landscaped Area Map
Legend
Seabreeze
Boundary
Landscaped Area
20,470 SQ FT
Parcels
Percolation Lot
Roads
Date: April 15th, 2009
Notes: The City of Marina assume no warranty or legal responsibility for the information contained on this map. Data and information represented on this map is subject to updates/modifications and may not be complete or appropriate for all purposes. The City of Marina and Monterey County GIS should be queried for the most current information. Parcel data is of mapping grade only and does not represent reliable locations or legal boundaries.

Sources: Monterey County GIS, City of Marina CDD
Map Projection: California State Plane Z one IV, NAD 83 (Feet)

EXHIBIT A
8 Estimates Estimates Estimates
Summary FY 2022-2023 FY 2023-2024 FY 2024-2025
Beginning Cash Balance, July 1st 3,784$ 4,515 $ 5,170 $ (a)Total Assessment Revenues (37 Parcels) 6,750$ 6,750 $ 6,750 $ Expenditures
Contractor Services
(b) Landscape Maintenance Contract 2,544$ 2,620 $ 2,699 $ Utilities -$ - $ - $ Large Tree Trimming - $ - $ - $ Extraordinary Maintenance - $ - $ - $ Plant Replacement - $ - $ - $ Administrative Services
Administration (Incl. Engineers Report) 1,500$ 1,500 $ 1,500 $ Cost Allocation Plan Charges 1,740 $ 1,740 $ 1,740 $ Legal Advertising 235$ 235 $ 235 $ Total Expenditures 6,019 $ 6,095 $ 6,174 $ (c)Net Change in Fund Balance 731$ 655 $ 576 $ (d)Ending Fund Balance, June 30th 4,515$ 5,170 $ 5,746 $

EXHIBIT B
(d) End Fund Balance equals the Net Change in Fund Balance plus the Beginning Cash Balance of that Fiscal Year. (c) Net Change in Fund Balance equals the Total Expenditures subtracted from Total Assessment Revenue for that Fiscal Year.
(b) Maintenance Costs are shown as increasing per fiscal year by an estimated Consumer Cost Index (CPI) of 3% as allowed by the Contract Specifications.
(a) Maximum Assessment per Prop 218 is $182.42 per parcel. The assessment amount for FY23-24 is consistent with FY22-23 at $182.42 per parcel.

SEABREEZE LANDSCAPE MAINTENANCE DISTRICT
9 EXHIBIT C

SEABREEZE LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT

1 033-082-001 $182.42
2 033-082-002 $182.42
3 033-082-003 $182.42
4 033-082-004 $182.42
5 033-082-005 $182.42
6 033-082-006 $182.42
7 033-082-007 $182.42
8 033-082-008 $182.42
9 033-082-009 $182.42
10 033-082-010 $182.42
11 033-082-011 $182.42
12 033-082-012 $182.42
13 033-082-013 $182.42
14 033-082-014 $182.42
15 033-082-015 $182.42
16 033-082-016 $182.42
17 033-082-017 $182.42

10 SEABREEZE LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT

18 033-082-018 $182.42
19 033-082-019 $182.42
20 033-082-020 $182.42
21 033-082-021 $182.42
22 033-082-022 $182.42
23 033-082-023 $182.42
24 033-082-024 $182.42
25 033-082-025 $182.42
26 033-082-026 $182.42
27 033-082-027 $182.42
28 033-082-028 $182.42
29 033-082-029 $182.42
30 033-082-030 $182.42
31 033-082-031 $182.42
32 033-082-032 $182.42
33 033-082-033 $182.42
34 033-082-034 $182.42

11 SEABREEZE LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT
35 033-082-035 $182.42
36 033-082-036 $182.42
37 033-082-037 $182.42

12 EXHIBIT D

METHOD OF DETERMINATION OF ASSESSMENT SPREAD

The maintenance of the landscaped areas within the Assessment District benefits the Assessment District as a whole. Therefore, the assessment should be equally apportioned over the 37 residential building sites or lots contained within the district as indicated on the Assessment Diagram (Exhibit A).

13 May 8, 2023 Item No. 11c

Honorable Mayor and Members City Council Meeting
of the Marina City Council of May 16, 2023

CITY COUNCIL OPEN PUBLIC HEARING, TAK E TESTIMONY
FROM THE PUBLIC AND CONSIDER ADOPTING RESOLUTION NO.
2023-, CONFIRMING DIAGRAM, ASSE SSMENT AND ORDERING
LEVY OF $77.14 FOR THE FY 2023-24 ASSESSMENT FOR THE

MONTEREY BAY ESTATES LIGHTING & LANDSCAPE
MAINTENANCE ASSESSMENT DISTRICT , AND; AUTHORIZING

THE CITY CLERK TO FILE A CERTIFIED COPY OF THE DIAGRAM

AND ASSESSMENT WITH THE MONTEREY COUNTY A UDITOR-
CONTROLLER PRIOR TO AUGUST 1, 2023

REQUEST:

It is requested that the City Council:

1. Open public hearing and take testimony from the public;

2. Consider adopting Resolution No. 2 023-, confirming diagram, assessment and ordering levy of $77.14 for FY 2023-24 assessment for the Monterey Bay Estates Lighting & Landscape Maintenance Assessment District, and;

3. Authorize the City Clerk to file a certified copy of the diagram and assessment with the Monterey County Auditor-Controller prior to August 1, 2023.

BACKGROUND:

At the regular meeting of October 3, 1989 , the City Council adopted Resolution No. 1989-62, ordering the formation of the Monterey Bay Estates Lighting & Landscape Maintenance Assessment District pursuant to Streets and H ighway Code §22594 and the Landscaping and Lighting Act of 1972 to maintain certain improvements required of new development as a condition of the subdivision approvals.

The Landscaping and Lighting Act of 1972 requi res an annual upd ate re port to be prepared which includes the costs to maintain the improvements of the Districts and what the proposed assessments will be to provide for that maintenance.

At the regular meeting of May 2, 2023 , the City Council adopted Resolution No. 2023-41, receiving the FY 2023-24 Engineer’s Report for Monterey Bay Estates Lighting & Landscape Maintenance Assessment District and calling a public hearing for May 16, 2023 on the proposed intention to levy and collect assessments for the District.

ANALYSIS:

Based on the Engineer’s Report (Exhibit A) , the assessment has been set in the amount of $77.14. This is the same amount as last year’s assessment and is the upp er limit set by the la st Proposition 218 rate vote by members of the assessment district established in 1989.

1 Adequate levels of landscape maintenanc e and site cleanup has been accomplished with the current funding assessment. Unl ess District residents request a dditional beauti fication or improvements, Staff is recommending continuing the curr ent assessment and level of maintenance. Regular maintenance of the existing District and updates to t he District website will continue.

FISCAL IMPACT:

Should the City Council approve this request, the anticipated revenue for the FY 2023-24 assessment levy is $12,496.68 for the purpose of the landscape maintenance district.

Levying of the assessment is the first step to collect the assessmen ts t o fund the landscape maintenance district.

CONCLUSION:

This request is submitted for City Council consideration and possible action.

Respectfully submitted,

_____________________________
Edrie Delos Santos, P.E.

Senior Engineer
Public Works Department
City of Marina

REVIEWED/CONCUR:

____________________________
Brian McMinn, P.E., P.L.S.

Public Works Director/City Engineer
City of Marina

_____________________________
Layne P. Long
City Manager
City of Marina

2 RESOLUTION NO. 2023-

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MARINA

CONFIRMING THE DIAGRAM AND ASSESSMENT AND ORDERING LEVY OF $77.14 FOR FY 2023-24 ASSESSMENT FOR THE MONTEREY BAY ESTATES

LIGHTING & LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT AND

AUTHORIZING THE CITY CLERK TO FILE A CERTIFIED COPY OF THE

DIAGRAM AND ASSESSMENT WITH THE MONTEREY COUNTY AUDITOR- CONTROLLER PRIOR TO AUGUST 1, 2023

WHEREAS, on October 3, 1989 , the City o rdered the formation of the Monterey Bay Estates Lighting & Landscape Maintenance District pursuant to Streets and Highway Code §22594, and;

WHEREAS, the City Engineer filed the Engineer's Report, f iscal year 2023-2024, required by Streets and Highways Code §22622 for said District, and;

WHEREAS, on May 2, 20 23, the City preliminarily approved said Engineer's Report, declared its int ention to levy and collect assessments within s aid District and set a hearing to ascertain whether the City shall order the levy and assessment of said assessment, and;

WHEREAS, said public hearing was held on May 16, 2023, and;

WHEREAS, levying of the a ssessment is the first step to collect the asse ssments to fund the landscape maintenance districts, and;

WHEREAS, provisions of this resolution are severable and if anyone provision is determined to be impermissible then the remainder of the resolution shall remain in full force and effect, and;

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Marina that:

1. The City does hereby confirm the diagram and assessment as described in the Engineer's Report on file with the City Clerk.

2. The C ity does hereby order the levy and coll ection o f said assessment, $77.14, for FY 2023-24 assessment for Monterey Bay Estate s Lighting & Landscape Maintenance Assessment District.

3. It is the intention of the City of Marina that any monetary advance made by it during any f iscal year to cover a deficit in the i mprovement fund of the Monterey Bay Es tates Lighting & Landscape Mainten ance Assessment District shall be repaid from the ne xt ann ual assessments levied an d collected within the Monterey Bay Estates Lighting & Landscape Maintenance Assessment District.

4. The City Cl erk is hereby authorized and direc ted to file a certified copy of said diagram and assessment with the Monterey Coun ty Aud itor prior to August 1, 2023.

3 Resolution No. 2023-
Page Two

PASSED AND ADOPTED by the City Council of the Ci ty of Marina at a regular meeting duly held on the 16th day of May 2023, by the following vote:

AYES: COUNCIL MEMBERS:

NOES: COUNCIL MEMBERS:

ABSENT: COUNCIL MEMBERS:

ABSTAIN: COUNCIL MEMBERS:

_____________________________
Bruce C. Delgado, Mayor
ATTEST:

__________________________________
Anita Sharp, Deputy City Clerk

4 CI

TY OF MARINA

MONTEREY COUNTY

CALIFORNIA

MONTEREY BAY ESTATES LIGHTING
A

ND LANDSCAPE MAINTENANCE

ASSESSMENT DISTRICT

ENGINEER'S REPORT
FY 2023-2024
C
ouncil Members:

B. DELGADO, MAYOR
L. VISSCHER B. MCCARTHY
K. BI
ALA C. MEDINA DIRKSEN
LAYNE LONG City Manager
ANITA SHEPHERD-SHARP Deputy City Clerk
HEIDI QUINN City Attorney
BRIAN MCMINN Public Works Director/City Engineer
Prepared By
City of Marina
Public Works Department

EXHIBIT A
5 MONTEREY BAY ESTATES

LIGHTING AND LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

FY 2023-2024

This report concerns the Monterey Bay Estates Lighting and Landscape Maintenance District.

The Assessment District consists of the Monterey Bay Estates Subdivision located in the northeasterly portion of the City of Marina. The subdivision contains 162 lots, a percolation pond parcel, and a park parcel.

The subdivision consists of 162 single family homes complete with underground utilities, water and wastewater facilities, public lighting facilities, street and drainage improvements, and landscaping.

The Assessment District has been formed for the purpose of maintaining and servicing both the landscaping areas and public lighting facilities within the subdivision. The landscaping areas to be maintained and serviced are those in the percolation pond parcel and the street rights-of-way of De Forest Road and Quebrada Del Mar adjacent thereto; in and adjacent to the Crescent Avenue right-of-way, installed and paid for by the developer. The public lighting facilities to be maintained and serviced include all the public lighting facilities within the subdivision installed and paid for by the developer.

This report has been prepared pursuant to Sections 22500 through 22679 of the Streets and Highway Code (Landscaping and Lighting Act of 1972).

The improvements to be maintained which are the subject of this report, are briefly described as follows:

Landscaping elements within the percolation pond parcel and the street rights-of-way of De Forest Road and Quebrada Del Mar adjacent thereto, and landscaping elements within and adjacent to the Crescent Avenue right-of-way (See Exhibit A) are considered as the landscaping improvements included in the Assessment District.

Landscaping elements consist of hydroseeded areas, groundcover, shrubs, trees, irrigation pipelines, controllers, valves, sprinklers, water and electrical service, and freestanding concrete block walls.

Public Lighting facilities within the street right-of-way of De Forest Road, Costa Del Mar Road, Sirena Del Mar Road, Tallmon Street, Quebrada Del Mar Road, Isla Del Sol Way, Estrella Del Mar Way and Crescent Avenue all within the boundary of the Monterey Bay Estates Subdivision (Tract no. 1102) are considered as the public lighting improvements included in the Assessment District, see Exhibit A. The public lighting facilities consist of electroliers, mast arm, ballast, electrical service, wiring and lamps.

6 Page Two
Engineer's Report
Monterey Bay Estates Lighting and Landscape Maintenance District

This report includes the following exhibits:

EXHIBIT A - An assessment diagram and boundary map showing all of the parcels of the real property within the Assessment District. The diagram is keyed to Exhibit C by the separate "Assessment Number".

EXHIBIT B - Spreadsheet showing estimated maintenance costs for FY 2022-2023, FY 2023- 2024 and FY 2024-2025.

EXHIBIT C - An assessment roll showing the amount proposed to be assessed against each parcel of real property within this Assessment District. In addition to the Assessor's Parcel Number each parcel has been assigned a separate "Assessment Number" which corresponds to that parcel's lot number.

EXHIBIT D- A statement of the method by which the undersigned determined the amount to be assessed against each parcel based on the benefits to be derived by each parcel, respectively, from the improvements.

Respectfully submitted,

__________________________
Brian McMinn, P.E., P.L.S.

Public Works Director/City Engineer

April 2023

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De Forest Rd
Park Cir
Sirena Del Mar Rd
Villa Cir Quebrada Del Mar Rd
Young Cir
Shuler Cir
Oak Cir
Costa Del Mar Rd
Isla Del Sol Way
Vista Del Camino Cir
De Forest Rd
Crescent Ave
Tallmon St
Estrella Del Mar Way
Whitney Pl
Park
042
151
007
019
141
020
043
132124
145
018
Perc Lot
150
129
111
149
112
023
127
152
044
153
024
157
102
077
039
040
022
154
050
143
031
047
001
093
094
085
121
060
142
120
084
008
055
128
125
155
130
048
140
017
066
035
103
061067
081
126
131
045
133
026
004
123
148
146
003
021
139
002
080
147
011
078
115
079
006
114
110
032
076
014
041
119
144
113118
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117 025
091
108
053
083
101
033
038
072
052
096
116
046
159
049
069
051057
138
015
134
122
136
095
029
064
106 010
089
109104
088
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059
034
036
156
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107
056
013
087
054
062
098
158 027
071 070 068
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086 037
012
082
030105
058
161
063
090
137
099
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074 065
162
075
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UNIVERSITY OF CALIFORNIA

HABITAT RESERVE

PG & ESUBSTATION

MCWDPUMP FACILITY
Monterey Bay Estates
Lighting and Landscape
Maintenance District
0 100 200
Feet
±
¬«1
Del Monte Blvd California Ave
Crescent Ave
Hillcrest Ave
Patton Parkway
Reindollar Ave
Carmel Ave
De Forest Rd
Cardoza Ave
Marina Dr
Reservation Rd
Abdy Way
Paddon Pl
Bayer Dr
±
Vicinity Map
Boundary and Landscaped Area Map
Legend
Monterey Bay Estates
Boundary
Landscaped Area

2.14 Acres
Maintained Street Lights
!. Total 34 - 100W
!. Total 7 - 200W
Parcels
Percolation Lot
Roads
Date: April 15th, 2009
Notes: The City of Marina assume no warranty or legal responsibility for the information contained on this map. Data and information represented on this map is subject to updates/modifications and may not be complete or appropriate for all purposes. The City of Marina and Monterey County GIS should be queried for the most current information. Parcel data is of mapping grade only and does not represent reliable locations or legal boundaries.

Sources: Monterey County GIS, City of Marina CDD
Map Projection: California State Plane Z one IV, NAD 83 (Feet)

EXHIBIT A
8 Estimates Estimates Estimates
Summary FY 2022-2023 FY 2023-2024 FY 2024-2025
Beginning Cash Balance, July 1st 5,514$ 6,765$ 7,841$ (a)Total Assessment Revenues (162 Parcels) 12,497$ 12,497$ 12,497$ Expenditures
Contractor Services
(b) Landscape Maintenance Contract 5,784$ 5,958$ 6,137$ Utilities 151$ 151$ 151$ Large Tree Trimming -$ -$
Extraordinary Maintenance -$ -$ -$ Plant/Tree Removal/Replacement -$ -$ -$ Administrative Services
Administration (Incl. Engineers Report) 2,000$ 2,000$ 2,000$ Cost Allocation Plan Charges 2,871$ 2,871$ 2,871$ Legal Advertising 440$ 440$ 440$ Total Expenditures 11,246$ 11,420$ 11,599$ (c)Net Change in Fund Balance 1,250$ 1,077$ 898$ (d)Ending Fund Balance, June 30th 6,765$ 7,841$ 8,739$

EXHIBIT B
(d) End Fund Balance equals the Net Change in Fund Balance plus the Beginning Cash Balance of that Fiscal Year. (c) Net Change in Fund Balance equals the Total Expenditures subtracted from Total Assessment Revenue for that Fiscal Year.
(b) Maintenance Costs are shown as increasing per fiscal year by an estimated Consumer Cost Index (CPI) of 3% as allowed by the Contract Specifications.
(a) Maximum Assessment per Prop 218 is $77.14 per parcel. The assessment amount for FY23-24 is consistent with FY22- 23 at $77.14 per parcel.

MONTEREY BAY ESTATES LIGHTING & LANDSCAPE MAINTENANCE DISTRICT 9 EXHIBIT C

MONTEREY BAY ESTATES

LIGHTING AND LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT

1 032-541-01 $77.14
2 032-541-02 $77.14
3 032-541-03 $77.14
4 032-541-04 $77.14
5 032-541-05 $77.14
6 032-541-06 $77.14
7 032-541-07 $77.14
8 032-541-08 $77.14
9 032-541-09 $77.14
10 032-541-10 $77.14
11 032-541-11 $77.14
12 032-541-12 $77.14
13 032-541-13 $77.14
14 032-541-14 $77.14
15 032-541-15 $77.14
16 032-541-16 $77.14
17 032-541-17 $77.14
18 032-541-18 $77.14
10 MONTEREY BAY ESTATES

LIGHTING AND LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT

19 032-541-19 $77.14
20 032-541-20 $77.14
21 032-541-21 $77.14
22 032-555-38 $77.14
23 032-555-02 $77.14
24 032-542-01 $77.14
25 032-542-02 $77.14
26 032-542-03 $77.14
27 032-542-04 $77.14
28 032-542-05 $77.14
29 032-542-06 $77.14
30 032-542-07 $77.14
31 032-542-08 $77.14
32 032-542-09 $77.14
33 032-542-10 $77.14
34 032-542-11 $77.14
35 032-542-12 $77.14
36 032-542-13 $77.14

11 MONTEREY BAY ESTATES

LIGHTING AND LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT
37 032-542-14 $77.14
38 032-542-15 $77.14
39 032-542-16 $77.14
40 032-542-17 $77.14
41 032-542-18 $77.14
42 032-542-25 $77.14
43 032-542-26 $77.14
44 032-542-21 $77.14
45 032-542-22 $77.14
46 032-542-23 $77.14
47 032-542-24 $77.14
48 032-543-01 $77.14
49 032-543-02 $77.14
50 032-543-03 $77.14
51 032-543-04 $77.14
52 032-543-05 $77.14
53 032-543-06 $77.14
54 032-543-07 $77.14
55 032-543-08 $77.14

12 MONTEREY BAY ESTATES

LIGHTING AND LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT
56 032-543-09 $77.14
57 032-543-10 $77.14
58 032-543-11 $77.14
59 032-543-12 $77.14
60 032-543-13 $77.14
61 032-543-14 $77.14
62 032-543-15 $77.14
63 032-543-16 $77.14
64 032-543-17 $77.14
65 032-543-18 $77.14
66 032-543-19 $77.14
67 032-551-01 $77.14
68 032-551-02 $77.14
69 032-551-03 $77.14
70 032-551-04 $77.14
71 032-551-05 $77.14
72 032-551-06 $77.14
73 032-551-07 $77.14
74 032-551-08 $77.14

13 MONTEREY BAY ESTATES

LIGHTING AND LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT
75 032-551-09 $77.14
76 032-551-10 $77.14
77 032-551-11 $77.14
78 032-551-12 $77.14
79 032-551-13 $77.14
80 032-551-14 $77.14
81 032-551-15 $77.14
82 032-551-16 $77.14
83 032-551-17 $77.14
84 032-551-18 $77.14
85 032-552-01 $77.14
86 032-552-02 $77.14
87 032-552-03 $77.14
88 032-552-04 $77.14
89 032-552-05 $77.14
90 032-552-06 $77.14
91 032-552-07 $77.14
92 032-552-08 $77.14
93 032-552-09 $77.14

14 MONTEREY BAY ESTATES

LIGHTING AND LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT

94 032-552-10 $77.14
95 032-552-11 $77.14
96 032-552-12 $77.14
97 032-552-13 $77.14
98 032-552-14 $77.14
99 032-552-15 $77.14
100 032-552-16 $77.14
101 032-552-17 $77.14
102 032-552-18 $77.14
103 032-553-01 $77.14
104 032-553-02 $77.14
105 032-553-03 $77.14
106 032-553-04 $77.14
107 032-553-05 $77.14
108 032-553-06 $77.14
109 032-553-07 $77.14
110 032-553-08 $77.14
15 MONTEREY BAY ESTATES

LIGHTING AND LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT
111 032-553-09 $77.14
112 032-553-10 $77.14
113 032-553-11 $77.14
114 032-553-12 $77.14
115 032-553-13 $77.14
116 032-553-14 $77.14
117 032-553-15 $77.14
118 032-553-16 $77.14
119 032-553-17 $77.14
120 032-553-18 $77.14
121 032-554-01 $77.14
122 032-554-02 $77.14
123 032-554-03 $77.14
124 032-554-04 $77.14
125 032-554-05 $77.14
126 032-554-06 $77.14
127 032-554-07 $77.14
128 032-554-08 $77.14
129 032-555-03 $77.14
16 MONTEREY BAY ESTATES

LIGHTING AND LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT

130 032-555-39 $77.14
131 032-555-05 $77.14
132 032-555-06 $77.14
133 032-555-07 $77.14
134 032-555-08 $77.14
135 032-555-09 $77.14
136 032-555-10 $77.14
137 032-555-11 $77.14
138 032-555-12 $77.14
139 032-555-13 $77.14
140 032-555-14 $77.14
141 032-555-15 $77.14
142 032-555-16 $77.14
143 032-555-17 $77.14
144 032-555-18 $77.14
145 032-555-19 $77.14
146 032-555-20 $77.14
147 032-555-21 $77.14
17 MONTEREY BAY ESTATES

LIGHTING AND LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT

ASSESSMENT ROLL FOR
FISCAL YEAR 2023-2024

DIAGRAM AND ASSESSOR'S NET
ASSESSMENT NO. PARCEL NUMBER ASSESSMENT

148 032-555-22 $77.14
149 032-555-23 $77.14
150 032-555-24 $77.14
151 032-555-25 $77.14
152 032-555-26 $77.14
153 032-555-27 $77.14
154 032-555-28 $77.14
155 032-555-29 $77.14
156 032-555-30 $77.14
157 032-555-31 $77.14
158 032-555-32 $77.14
159 032-555-33 $77.14
160 032-555-34 $77.14
161 032-555-35 $77.14
162 032-555-36 $77.14

18 EXHIBIT D

METHOD OF DETERMINATION OF ASSESSMENT SPREAD

The maintenance of the landscaping surrounding percolation pond and Crescent Avenue landscaping together with maintenance and service of the public lighting facilities benefits the Assessment District as a whole. The tentative subdivision map approval was conditioned on the formation of this Maintenance District. Since the creation of the lots was so conditioned, each lot equally benefits from the District. Therefore, the assessment spread is based on the number of building sites or lots contained within the district as indicated on the Assessment Diagram (Exhibit A).

19 May 9, 2023 Item No. 13(a)
Honorable Mayor and Members City Council Meeting
of the Marina City Council of May 16, 2023
CITY COUNCIL CONSIDER ADOPTING RESOLUTION NO. 20 23-,
APPROVING A FUND TRANSFER AND A PPROPRIATION OF $40,000

FROM EACH OF THE IMPACT FEE AC COUNTS TO THE PUBLIC

FACILITIES IMPACT FEE STUDY UPDATE AND AUTHORIZING THE

FINANCE DIRECTOR TO MAKE NECESSARY ACCOUNTING AND

BUDGETARY ENTRIES
REQUEST:

It is requested that the City Council:

1. Consider adopting Resolution No. 20 23-, approving a fund transfer and appropriation of $40,000 from each of the Impac t Fee accou nts to the Public Facilities Impact Fee Study Update and authorizing the Finance Director to make necessary accounting and budgetary entries.

BACKGROUND:

At the regular meeting of April 19, 2016, the City Council adopted Resolution 2016 -50, making available the Development Impact Fee Study in accordance with Marina Municipal Code Chapter 3.26.

At the regular meeting of Ju ly 19, 201 6, the City Council passed and adopted Ordinance No. 2016-04, amending Chapter 3.26 of the Marina Municipal Code regarding mitigation fees for new development.

ANALYSIS:

The Public Facilities Impact Fee Study (Study) report updates all five (5) City public facilities impact fee programs for public building facilities, public safety facilities, roadways, intersections and parks. This Study is updated on approximately a 5-year cycle.

The purpose of the updated Study is to re -evaluate the fees developed from the previous Study report and incorporate the adopted Capit al Improvement Program ( CIP) projects and additional recommended projects.

On February 7, 2022, the City entered into a Service Order agreement with the on -call Traffic Engineering consultant firm Kimley Ho rn & Associates to provide engineering services in preparing the City’s updated Study.

The adoption of State Assembly Bill 602 adds specific requirements and practices to the Study in regard to the way impact fees are applied in proportion to the size of development as well as the current and proposed levels of ser vice for public facilities. These new requirements for any impact fee nexus study were not originally part of the Service Order scope of work and require additional fund s to complete. The updated scope of work also incorporates a Vehicle Mil es Traveled (VMT) mitigation program in accordance with Senate Bill 743. 1 FISCAL IMPACT:

The adopted Fiscal Year 2021-23 budget allocated $25,000 from each of the five impact fee accounts (Ro ads, Intersections, Facilities, Parks, and Pu blic Safety). Due to the requirements added by Sen ate Bill 7 43 and A ssembly Bill 602, an addition al $40,000 will be required from each of the impact fee accounts to complete the updated Study.

Should the Council approve thi s request, the City Finance Director will make all n ecessary accounting and budgetary entries to facilitate a fund transf er from each of the Impa ct Fee accounts to the Capital Improvement Program P roject EDC2124 – Public Facilities Impact Fee Study Update.

CONCLUSION:

This request is submitted for City Council’s approval.

Respectfully submitted,

_____________________________
Edrie Delos Santos, P.E.

Senior Engineer
Public Works Department
City of Marina

REVIEWED/CONCUR:

____________________________
Brian McMinn, P.E., P.L.S.

Public Works Director/City Engineer
City of Marina

_____________________________
Layne P. Long
City Manager
City of Marina
2 RESOLUTION NO. 2023-

A RESOLUTION OF CITY COUNCIL OF THE CITY OF MARINA
APPROVING A FUND TRANSFER AND APPROPRIATION OF $40,000

FROM EACH OF THE IMPACT FEE ACCOUNTS TO THE PUBLIC

FACILITIES IMPACT FEE STUDY UPDATE AND AUTHORIZING THE

FINANCE DIRECTOR TO MAKE NECESSARY ACCOUNTING AND

BUDGETARY ENTRIES

WHEREAS, at the regular meeting of April 19, 2016, the City Council adopted Resolution 2016- 50, making available the Development Impact Fee Study in accordance with Marina Municipal Code Chapter 3.26, and;

WHEREAS, at the regular meeting of Ju ly 19, 201 6, the City Council passed and adopted Ordinance No. 2016 -04, amending Chapter 3.26 of the Marina Municipal Code regarding mitigation fees for new development, and;

WHEREAS, the Public Facilities Impact Fee Study (Study) report updates all five (5) City public facilities impact fee programs for public building facilities, public safety facilities, roadways, intersections and parks. This Study is updated on approximately a 5-year cycle, and;

WHEREAS, the purpose of the updated Study is to re -evaluate the fees developed from the previous Study report and incorporate the adopted Capital Improvement Program ( CIP) projects and additional recommended projects, and;

WHEREAS, on February 7, 2022, the City entered into a Service Order agreement with the on - call Traffic Engineering consultant firm Kimley Ho rn & Associates to provide engineering services in preparing the City’s updated Study, and;

WHEREAS, the adoption of State Assembly Bill 602 adds specific requirements and practices to the Study in regard to the way impact fees are applied in proportion to the size of development as well as the current and proposed levels of ser vice for public facilities. These new requirements for any impact fee nexus study were not originally part of the Service Order scope of work and require additional fund s to complete. The updated scope of work also incorporates a Vehicle Miles Traveled (VMT) mitigation program in accordance with Senate Bill 743, and;

WHEREAS, the adopted Fiscal Year 2021-23 budget allocated $25,000 from each of the five impact fee accounts (Ro ads, Intersections, Facilities, Parks, and Pu blic Safety). Due to t he requirements added by Sen ate Bill 7 43 and A ssembly Bill 602, an addition al $40,000 will be required from each of the impact fee accounts to complete the updated Study, and;

WHEREAS, should the Council approve thi s request, the City Finance Director wil l make all necessary accounting and budgetary entries to facilitate a fund transfer from each of the Impa ct Fee accounts to the Capital Improvement Program P roject EDC2124 – Public Facilities Impact Fee Study Update.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Marina approves a fund transfer and appropri ation of $40,000 from each of the Impact Fee accounts to the Public Facilities Impact Fee Study Update and authorizing the Finance Director to make necessary accounting and budgetary entries.

3 Resolution No. 2023-,
Page Two

PASSED AND ADOPTED by the City Council of the City of Marina at a re gular meeting duly held on the 16th day of May 2023, by the following vote:

AYES: COUNCIL MEMBERS:

NOES: COUNCIL MEMBERS:

ABSENT: COUNCIL MEMBERS:

ABSTAIN: COUNCIL MEMBERS:

___________________________
Bruce C. Delgado, Mayor
ATTEST:

________________________________
Anita Sharp, Deputy City Clerk
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