Agenda, regular meeting, first session — Monterey Park City Council, April 6, 2022 (part 2 of 2)

CITY OF MONTEREY PARK

NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2021

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NOTE 10 PENSION PLANS (CONTINUED)
A. Defined Benefit Pension Plans (Continued)
a. California Public Employees’ Retirement System Plan (Continued) General Information about the Pension Plan (Continued)
Employees Covered by Benefit Terms
At June 30, 2020, the measurement date, the following employees were covered by the benefit terms:

Miscellaneous Safety
Active Employees 192 120
Transferred and Terminated Employees 333 104 Retired Employees and Beneficiaries 341 251 Total 866 475
Plans

Contributions
Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate.

The total plan contributions are determined through CalPERS’ annual actuarial valuation process. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. City contribution rates may change if plan contracts are amended. Payments made by the employer to satisfy contribution requirements that are identified by the pension plan terms as plan member contributions requirements are classified as plan member contributions. For the current year, employer required contributions made were $4,502,361 and $6,744,705 to the miscellaneous and safety plans, respectively. The City also made additional unfunded liability payments of $41,146,631 and $64,398,586 to the miscellaneous and safety plans, respectively. The net pension liability for governmental activities is primarily liquidated from the general fund and the net pension liability for business- type activities is liquidated from the applicable enterprise funds.

Net Pension Liability
Actuarial Methods and Assumptions Used to Determine Total Pension Liability The City’s net pension liability for each Plan is measured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability of each of the Plans is measured as of June 30, 2020, using an annual actuarial valuation as of June 30, 2019 rolled forward to June 30, 2020, using standard update procedures. A summary of principal assumptions and methods used to determine the net pension liability is shown below.

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NOTE 10 PENSION PLANS (CONTINUED)
A. Defined Benefit Pension Plans (Continued)
a. California Public Employees’ Retirement System Plan (Continued) Net Pension Liability (Continued)
Actuarial Methods and Assumptions Used to Determine Total Pension Liability (Continued)
The total pension liability in the June 30, 2019 actuarial valuations was determined using the following actuarial methods and assumptions:

Actuarial Cost Method
Actuarial Assumptions:

Discount Rate 7.15%
Inflation 2.50%
Salary Increases Varies by entry age and service.

Mortality Rate Table
Post Retirement Benefit
Increase
Entry-Age Normal in accordance with the requirement of
GASB Statement No. 68
The mortality table used was developed based on
CalPERS-specific data. The probabilitites of mortality are based on the 2017 CalPERS Experience Study for the
period from 1997 to 2015. Pre-retirement and Post-
retirement motality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016
published by the Society of Actuaries. For more details on this table, please refer to the CalPERS Experience Study and Review of Actuarial Assumptions report from
December 2017 that can be found on the CalPERS
website.

Contract COLA up to 2.5% until Purchasing Power
Protection Allowance Floor on Purchasing Power applies,

2.50% thereafter.

Discount Rate
The discount rate used to measure the total pension liability was 7.15%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

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

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NOTE 10 PENSION PLANS (CONTINUED)
A. Defined Benefit Pension Plans (Continued)
a. California Public Employees’ Retirement System Plan (Continued) Net Pension Liability (Continued)
Long-term Expected Rate of Return (Continued)
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 compound (geometric) returns were calculated over the short-term (first 10 years) and the long-term (11+ 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 rounded 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 equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses. The table below reflects the long-term expected real rate of return by asset class.

Asset Class (1) Allocation 1 - 10 (2) 11+ (3)
Global Equity 50.00% 4.80% 5.98%
Fixed Income 28.00% 1.00% 2.62%
Inflation Assets 0.00% 77.00% 1.81%
Private Equity 8.00% 6.30% 7.23%
Real Assets 13.00% 3.75% 4.93%
Infrastructure and Forestland 0.00% 0.00% 0.00%
Liquidity 1.00% 0.00% -0.92%
Total 100.00%
(2) An expected inflation of 2.0% used for this period. (3) An expected inflation of 2.92% used for this period. (1) In the System's ACFR, fixed income is included in global debt securities; liquidity is included in short-term investments; inflation assets are included in both global equity securities and global debt securities.

Subsequent Events
There were no subsequent events that would materially affect the results in this disclosure.

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Total Plan Net Pension
Pension Fiduciary Liability
Liability Net Position (Asset)
(a) (b) (c) = (a) - (b)
Balance at June 30, 2019 (Measurement Date) 143,823,713$ 103,643,187$ 40,180,526$ Changes Recognized for the
Measurement Period:

Service Cost 2,180,399 - 2,180,399 Interest on the Total Pension Liability 10,151,939 - 10,151,939 Changes in Benefit Terms - - - Changes in Assumptions - - - Differences Between Expected and
Actual Experience 602,063 - 602,063 Plan to Plan Resource Movement - - - Contributions from the Employer - 4,961,827 (4,961,827) Contributions from Employees - 919,290 (919,290) Net Investment Income - 5,268,857 (5,268,857) Benefit Payments, Including Refunds of
Employee Contributions (7,061,615) (7,061,615) - Administrative Expenses - (146,111) 146,111 Other Miscellaneous Income/(Expense) - - - Net Changes During July 1, 2019 to June 30, 2020 5,872,786 3,942,248 1,930,538 Balance at June 30, 2020 (Measurement Date) 149,696,499$ 107,585,435$ 42,111,064$ Increase (Decrease)
Miscellaneous Plan

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NOTE 10 PENSION PLANS (CONTINUED)
A. Defined Benefit Pension Plans (Continued)
a. California Public Employees’ Retirement System Plan (Continued) Changes in the Net Pension Liability (Continued)
Total Plan Net Pension
Pension Fiduciary Liability
Liability Net Position (Asset)
(a) (b) (c) = (a) - (b)
Balance at June 30, 2019 (Measurement Date) 226,036,281$ 161,864,727$ 64,171,554$ Changes Recognized for the
Measurement Period:

Service Cost 3,826,239 - 3,826,239 Interest on the Total Pension Liability 15,722,454 - 15,722,454 Changes in Benefit Terms - - - Changes in Assumptions - - - Differences Between Expected and
Actual Experience (2,916,658) - (2,916,658) Plan to Plan Resource Movement - - - Contributions from the Employer - 6,084,397 (6,084,397) Contributions from Employees - 1,483,430 (1,483,430) Net Investment Income - 8,070,569 (8,070,569) Benefit Payments, Including Refunds of
Employee Contributions (10,276,568) (10,276,568) - Administrative Expenses - (228,190) 228,190 Other Miscellaneous Income/(Expense) - - - Net Changes During July 1, 2019 to June 30, 2020 6,355,467 5,133,638 1,221,829 Balance at June 30, 2020 (Measurement Date) 232,391,748$ 166,998,365$ 65,393,383$ Increase (Decrease)
Safety Plan

Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the Plan as of the measurement date, calculated using the discount rate of 7.15%, as well as what the net pension liability would be if it were calculated using a discount rate that is 1 percentage point lower or 1 percentage point higher than the current rate:

Miscellaneous Safety
1% Decrease 6.15% 6.15%
Net Pension Liability 61,391,652 $ 96,576,460 $
Current Discount Rate 7.15% 7.15%
Net Pension Liability 42,111,064 $ 65,393,383 $
1% Increase 8.15% 8.15%
Net Pension Liability 26,135,442 $ 39,724,048 $

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NOTE 10 PENSION PLANS (CONTINUED)
A. Defined Benefit Pension Plans (Continued)
a. California Public Employees’ Retirement System Plan (Continued) Changes in the Net Pension Liability (Continued)
Pension Plan Fiduciary Net Position
Detailed information about the plan’s fiduciary net position is available in the separately issued CalPERS financial report.

Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related to Pensions
For the measurement period ended June 30, 2020, the City incurred a pension expense/(income) of $6,009,630 and $8,759,459 for the miscellaneous plan and safety plan, respectively.

As of measurement date of June 30, 2020, the City has deferred outflows and deferred inflows of resources related to pensions as follows:

Deferred Deferred
Outflows Inflows
of Resources of Resources
Contributions Made After the Measurement Date 45,648,992$ -$ Difference Between Expected and
Actual Experience 598,855 -
Changes of Assumptions - -
Net Differences Between Projected and Actual
Earnings on Pension Plan Investments 657,988 - Total 46,905,835$ -$
Miscellaneous Plan

Deferred Deferred
Outflows Inflows
of Resources of Resources
Contributions Made After the Measurement Date 71,143,291$ -$ Difference Between Expected and
Actual Experience 935,678 (1,910,914)
Changes of Assumptions - -
Net Differences Between Projected and Actual
Earnings on Pension Plan Investments 1,309,501 - Total 73,388,470$ (1,910,914)$
Safety Plan

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NOTE 10 PENSION PLANS (CONTINUED)
A. Defined Benefit Pension Plans (Continued)
a. California Public Employees’ Retirement System Plan (Continued) Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related to Pensions (Continued)
The expected average remaining service lifetime (EARSL) is calculated by dividing the total future service years by the total number of plan participants (active, inactive, and retired). The EARSL for the miscellaneous plan and safety plan for the 2019-20 measurement period is 2.2 and 2.9 years, respectively, which was obtained by dividing the total service years of 1,939 and 1,349 (the sum of remaining service lifetimes of the active employees), respectively, by 866 and 472 (the total number of participants: active, inactive, and retired), respectively.

For the miscellaneous plan and safety plan, $45,648,992 and $69,955,494, respectively, reported as deferred outflows of resources related to pensions resulting from City’s contributions subsequent to the measurement date, will be recognized as a reduction of the net pension liability in the year ending June 30, 2022. Other amounts reported as deferred inflows of resources related to pensions will be recognized in future pension expense as follows:

Measurement Period
Miscellaneous Safety
Year Ending June 30, Plan Plan
2021 49,081$ (745,736)$
2022 289,984 (443,525)
2023 503,598 845,061
2024 414,180 678,465
2025 - -
Thereafter - -
Amounts

Payable to the Pension Plans
At June 30, 2021, the City had no outstanding amount of contributions to the pension plans required for the year ended June 30, 2021.

b. Massachusetts Mutual Retirement Plan - Defined Benefit Plan General Information about the Pension Plan
Plan Description
Certain miscellaneous employees are covered by a retirement plan through the Massachusetts Mutual Life Insurance Company (MMRP), a single-employer defined benefit pension plan. All miscellaneous employees who were employed prior to April 1, 1976 participated in the MMRP. Miscellaneous employees under the age of 55 joined CalPERS on and after April 1, 1976. However, these employees still remain vested under the MMRP and are eligible to receive retirement benefits at the time of retirement. Miscellaneous employees over the age of 55 (on or before April 1, 1976) could not participate in CalPERS and remain wholly in the MMRP.

The City does not issue a publicly available financial report for the MMRP.

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NOTE 10 PENSION PLANS (CONTINUED)
A. Defined Benefit Pension Plans (Continued)
b. Massachusetts Mutual Retirement Plan - Defined Benefit Plan (Continued) General Information about the Pension Plan (Continued)
Benefits Provided
The MMRP was amended in 1976 to provide equivalent retirement benefits to all miscellaneous employees, whether totally vested in CalPERS, totally vested in the MMRP or partially vested in both plans. Eligibility requirements for the MMRP are the same as those for CalPERS.

Employee Covered by Benefit Terms
MMRP is a closed plan. As of the measurement date, June 30, 2021, there are 39 individuals in the plan, all of whom are no longer employed by the City or are currently participating in PERS. The City’s payroll for employees covered by the MMRP was zero for the measurement period July 1, 2020 to June 30, 2021.

Contributions
MMRP is a contributory plan deriving funds from employer contributions and earnings from investments. Employer contributions were based upon the actuarial methods and assumptions. For the current year, the City made required contributions of $605,000 to the MMRP.

Net Pension Liability
Actuarial Methods and Assumptions Used to Determine Total Pension Liability For the measurement period ended June 30, 2021, the total pension liability was determined by rolling forward the June 30, 2020 total pension liability to June 30, 2021, based on actual benefit payments.

The total pension liability was based on the following actuarial methods and assumptions:

Actuarial Cost Method
Valuation Date June 30, 2019
Actuarial Assumptions:

Discount Rate 4.50%
Expected Long-term
Rate of Return on Investment 4.75%
Inflation 2.75%
Mortality Rate CalPERS 1997-2015 experience study
Mortality Improvement Scale
Cost of Living Adjustment/PPPA 2%; PPPA valued for each annuitant Entry Age Normal
Fully generational projection with Scale MP-18

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NOTE 10 PENSION PLANS (CONTINUED)
A. Defined Benefit Pension Plans (Continued)
b. Massachusetts Mutual Retirement Plan - Defined Benefit Plan (Continued) Net Pension Liability (Continued)
Discount Rate
Plan assets currently invested in Mass Mutual general investment account. Expected long term return on assets was 4.75% for June 30, 2019 valuation and rounded to nearest 0.25%. Noninvestment expenses of $25,000 were added to actuarially determined contribution amount. Cross-over analysis showed benefit payments always fully funded by plan assets based on 4.50% discount rate.

Changes in the Net Pension Liability
The following table shows the changes in net pension liability recognized over the measurement period.

Total Plan Net Pension
Pension Fiduciary Liability
Liability Net Position (Asset)
(a) (b) (c) = (a) - (b)
Balance at June 30, 2020 5,454,000$ 4,889,000$ 565,000$ Changes Recognized for the Measurement Period:

Service Cost - - - Interest on the Total Pension Liability 232,000 - 232,000 Changes in Benefit Terms - - - Differences Between Expected and
Actual Experience - - - Changes in Assumptions - - - Contributions from the Employer - 605,000 (605,000) Contributions from Employees - - - Net Investment Income - 323,000 (323,000) Benefit Payments, Including Refunds (501,000) (501,000) - Administrative Expense - (17,000) 17,000 Net Changes (269,000) 410,000 (679,000) Balance at June 30, 2021 (Measurement Date) 5,185,000$ 5,299,000$ (114,000)$ Increase (Decrease)

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NOTE 10 PENSION PLANS (CONTINUED)
A. Defined Benefit Pension Plans (Continued)
b. Massachusetts Mutual Retirement Plan - Defined Benefit Plan (Continued) Changes in the Net Pension Liability (Continued)
Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the Plan as of the measurement date, calculated using the discount rate of 4.50%, as well as what the net pension liability would be if it were calculated using a discount rate that is 1 percentage point lower (3.50%) or 1 percentage point higher (5.50%) than the current rate:

1% Decrease 3.50%
Net Pension Liability 262,000$
Current Discount Rate 4.50%
Net Pension Liability (114,000)$
1% Increase 5.50%
Net Pension Liability (439,000)$

Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related to Pensions
For the measurement period ending June 30, 2021, the City incurred a pension expense/(income) of $7,000 for MMRP. As of measurement date of June 30, 2021, the City has deferred outflows and deferred inflows of resources related to pensions as follows:

Deferred Deferred
Outflows Inflows
of Resources of Resources
Difference Between Expected and
Actual Experience -$ -$
Changes of Assumptions - -
Net Differences Between Projected and
Actual Earnings on Pension Plan Investments - (191,000) Total -$ (191,000)$

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

Measurement Period Amount
Year Ending June 30,
2022 (28,000)$
2023 (82,000)
2024 (63,000)
2025 (18,000)
2026 -
Thereafter -

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NOTE 10 PENSION PLANS (CONTINUED)
A. Defined Benefit Pension Plans (Continued)
c. Aggregate Amount of Pension Expenses
The aggregate amount of pension expenses for all defined benefit pension plans for the fiscal year ended June 30, 2021 totaled $14,776,089.

B. Defined Contribution Pension Plan
Monterey Park Part-Time Retirement Plan
During the 1991-1992 fiscal year, the City established the Monterey Park Part-Time Retirement Plan, a defined contribution retirement plan, for all nonbenefited, part- time employees in accordance with Internal Revenue Code Section 457, to conform to Section 3121(b)(7)(F) of the Internal Revenue Code added by the Omnibus Budget Reconciliation Act of 1990. The plan is administered by Empower Inc. The plan was established by the authority of the City Council who retains the authority to amend the plan.

A defined contribution pension plan provides pension benefits in return for services rendered, provides an individual account for each participant, and specifies how contributions to the individual’s account are to be determined instead of specifying the amount of benefits the individual is to receive. Under a defined contribution pension plan, the benefits a participant will receive depend solely on the amount contributed to the participant’s account and the returns earned on investments of the contributions.

Part-time, nonbenefited, nonpersable employees of the City must participate in the plan. During the year ended June 30, 2021, 334 part-time employees participated in the plan. All contributions to the plan vest immediately. An employee who leaves the City is entitled to all contributions, including contributions made by the City, and earnings applied to the individual’s account through the date of separation, less legally required income tax withholding. Participants that become full-time employees and enter the CalPERS retirement plan will have the amount in their individual accounts transferred from this plan into a Section 457, Deferred Compensation Plan, subject to all the rules governing Section 457 plans, including substantial penalties for withdrawal prior to the age of normal retirement. Contribution levels into the deferred compensation plan were established by City Council resolution at 4% and

3.5% for the City and nonbenefited, nonpersable part-time employees, respectively.

During the year, the City contributed $64,671 to the plan.

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NOTE 11 OTHER POST-EMPLOYMENT BENEFITS
A. Plan Description
In addition to the pension benefits, the City provides postretirement medical insurance benefits, through an agent multiple-employer O PEB plan in accordance with contractual provisions of the various Memoranda of Understanding with the City’s recognized employee organizations, to all vested employees who retire with CalPERS pension benefits immediately upon termination of em ployment from the City. The City has established a California Retiree Benefit Trust (CERBT), an agent-multiple employer trust which CalPERS serves as trustee. Eligible retirees and dependents may elect lifetime coverage through the City’s healthcare plans. The City makes contributions towards the retiree’s premium up to specified caps that vary depending on bargaining unit and whether the participant has more or less than 20 years of service. Retirees pay the portion of premium not paid by the City. In addition to the direct City paid contribution, retirees also receive pre-65 benefits that are subsidized as they are eligible to receive coverage based on blended (active and retiree) premium rates instead of normally higher retiree rates (implied subsidy). For those retirees who are eligible for Medicare, the City contributes toward Medicare supplemental insurance coverage. Upon retirement, vested full-time employees may, at their own cost, convert group life insurance coverage to individual life insurance coverage. Post-employment benefits for employees that separate for reasons other than retirement are limited to those required under the provisions of COBRA and require no contribution by the City.

Members are eligible for the following benefits:

General Management Safety
Benefit Types Provided Medical Only Medical Only Medical Only Duration of Benefits Lifetime Lifetime Lifetime
Minimum Age 50 50 50
Dependent Coverage Yes Yes Yes
Required Years of Service 5 Years 5 Years 5 Years
City Contribution % 100% 100% 100%
City Cap:

Calendar Year 2019 $340-$435 per month $355-$1,375 $346-$650 Calendar Year 2020 $340-$435 per month $355-$1,375 $346-$650

Employees Covered
As of measurement date June 30, 2020, the following current and former employees were covered by the benefit terms under the plan:

Inactive Employees or Beneficiaries Currently 243
Receiving Benefits
Inactive Employees or Beneficiaries Entitled to but 59
not yet Receiving Benefits
Active Employees 254
556

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NOTE 11 OTHER POST-EMPLOYMENT BENEFITS (CONTINUED)
A. Plan Description (Continued)
Contributions
The contribution requirements are established and amended by the City. Employer contributions are determined through an annual actuarial valuation process. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability.

For the current year, the City’s contributions to the plan included $1,000,000 to the irrevocable CERBT, an implied subsidy of $301,000, $16,000 in administrative expenses, and $1,443,000 in cash benefit payments, resulting in total contributions of $2,760,000. The contributions to the OPEB plan are generally made from the general fund.

B. Total OPEB Liability
For the measurement period ended June 30, 2020, the City’s total OPEB liability was determined in a June 30, 2020 actuarial accounting valuation. A summary of the principal assumptions and methods used to determine the net OPEB liability is shown below.

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NOTE 11 OTHER POST-EMPLOYMENT BENEFITS (CONTINUED)
B. Total OPEB Liability (Continued)
Actuarial Assumptions
The total OPEB liability in the June 30, 2019 actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement, unless otherwise specified:

Valuation Date June 30, 2019
Measurement Date June 30, 2020
Actuarial Cost Method Entry-Age Normal Cost Method
Contribution Policy Pre-funded through CERBT with Strategy 1 asset allocation.

Actuarial Assumptions:

Discount Rate 6.75% at June 30, 2019
General Inflation 2.75%
Cap Increase All except Executive Management, CM and Elected Officials - 0% until end of current MOU, 5% every 3 years thereafter.

Executive Management, CM and Elected Officials - 5% per year.

Long-Term Expected Rate of
Return on Assets 6.75%
Medical Trend Non-Medicare - 7.25% for 2021, decreasing to an ultimate rate of 4% in 2076 and later years
Medicare - 6.3% for 2021, decreasing to an ultimate rate of 4% in 2076 and later years
Mortality, Retirement,
Disability, Termination CalPERS 1997-2015 experience study Mortality Improvement Mortality projected fully generational with Scale MP-2019

The long-term expected rate of return on OPEB 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 OPEB plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long- term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of the arithmetic real rates of return for each major asset class are summarized in the following table.

Long-Term
Expected Real
Asset Class Target Allocation Rate of Return
CERBT Strategy 1:

Global Equity 59.00% 4.82%
Fixed Income 25.00% 1.47%
TIPS 5.00% 1.29%
Commodities 3.00% 0.84%
Real Estate Investment Trusts 8.00% 3.76%
Total 100.00%

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NOTE 11 OTHER POST-EMPLOYMENT BENEFITS (CONTINUED)
B. Total OPEB Liability (Continued)
Discount Rate
The discount rate used to measure the total OPEB liability was 6.75%. The projection of cash flows used to determine the discount rate assumed that the City’s contributions will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries. Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEB liability.

C. Changes in the Net OPEB Liability
The changes in the net OPEB liability are as follows:

Total Plan Net
OPEB Fiduciary OPEB
Liability Net Position Liability (Asset)
Balance at June 30, 2019
(Measurement Date) 32,606,666$ 8,175,606$ 24,431,060$ Changes in the Year:

Service Cost 822,907 - 822,907 Interest on the Total OPEB Liability 2,199,290 - 2,199,290 Differences between Actual and -
Expected Experience - - - Changes in Assumptions - - - Changes in Benefit Terms - - - Contributions - Employer - 2,710,000 (2,710,000) Net Investment Income - 318,876 (318,876) Benefit Payments (1,695,000) (1,695,000) - Administrative Expenses - (19,470) 19,470 Administrative Expenses - - - Net Changes 1,327,197 1,314,406 12,791 Balance at June 30, 2020
(Measurement Date) 33,933,863$ 9,490,012$ 24,443,851$ Increase (Decrease)

Change of Assumptions
Discount rate was updated to 50 th percentile of the long term expected return based on current capital market assumptions. Demographic assumptions were updated to CalPERS 1997-2015 Experience Study. Mortality improvement scale was updated to Scale MP-2019. PEMHCA Minimum Trend was updated.

Change of Benefit Terms
There were no changes of benefit terms.

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NOTE 11 OTHER POST-EMPLOYMENT BENEFITS (CONTINUED)
C. Changes in the Net OPEB Liability (Continued)
Subsequent Events
There were no subsequent events that would materially affect the results presented in this disclosure.

Sensitivity of the Net OPEB Liability to Changes in the Discount Rate The following presents the total OPEB liability of the City, as well as what the City’s total OPEB liability would be if it were calculated using a discount rate that is 1 percentage point lower or 1 percentage point higher than the current discount rate:

1% Decrease Discount Rate 1% Increase
(5.75%) (6.75%) (7.75%)
Net OPEB Liability 28,738,913 $ 24,443,851 $ 20,880,782 $

Sensitivity of the Total OPEB Liability to Changes in Medical Trend Rates The following presents the total OPEB liability of the City, as well as what the City’s total OPEB liability would be if it were calculated using medical trend rates that are 1 percentage point lower:

1% Decrease Current Trend 1% Increase
Net OPEB Liability 22,882,683 $ 24,443,851 $ 26,129,416 $

OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB For the year ended June 30, 2021, the City recognized OPEB expense of $1,319,660. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Deferred Deferred
Outflows Inflows
of Resources of Resources
OPEB Contributions Subsequent to
Measurement Date 2,760,000 $ - $
Differences Between Actual and
Expected Experience - 3,256,183 Changes in Assumptions - 730,025 Differences Between Projected and Actual Earnings 181,172 - Total 2,941,172 $ 3,986,208 $

The differences between projected and actual earnings on plan investments is amortized over five years.

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JUNE 30, 2021

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NOTE 11 OTHER POST-EMPLOYMENT BENEFITS (CONTINUED)
C. Changes in the Net OPEB Liability (Continued)
OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB (Continued)
$2,700,000 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the total OPEB liability in the year ending June 30, 2022. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized as OPEB expense as follows:

Year Ending June 30, Amount
2022 (1,102,155) $
2023 (1,056,155)
2024 (1,042,157)
2025 (604,569)
2026 -
Thereafter -

Payable to the OPEB Plan
At June 30, 2021, the City had no outstanding amount of contributions to the OPEB plan required for the year ended June 30, 2021.

NOTE 12 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. These risks are handled as described below.

The City is partially self-insured for Workers’ Compensation, General Liability and Automobile Liability. The City is fully self-insured for unemployment insurance claims (reimbursable account with Employment Development Department). The Workers’ Compensation Internal Service Fund and the General Liability Internal Service Fund were established to account for the collection of premiums from various City departments related to the City’s insurance and self-insurance programs.

The City retains the risk for the first $500,000 of each Workers’ Compensation claim and is a member of the Independent Cities Risk Management Authority for coverage up to $5,000,000 per occurrence. Excess workers’ compensation insurance has also been purchased up to statutory limits. The City retains the risk for the first $300,000 of each General Liability and Auto Liability claim and is a member of the Independent Cities Risk Management Authority for coverage up to $20 million per occurrence. The City also purchases commercial insurance for other risks of loss, including property loss, emergency vehicle physical damage and special events.

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JUNE 30, 2021

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NOTE 12 RISK MANAGEMENT (CONTINUED)
The Independent Cities Risk Management Authority (ICRMA) is comprised of 21 Southern California cities, and each member city has a representative on the governing board. The comprehensive general liability insurance includes monetary damages for personal liability, property damage and public officials’ errors and omissions. Deposits made to the ICRMA are based on losses incurred by the insured, and rebates are possible if the losses are minimal.

On November 17, 2016, the ICRMA Board approved an assessment on the member cities to fund deficits in its Liability Program for the fiscal years ended 2004, and 2012 through 2015. The City’s share of this assessment was determined to be $1,635,143 and is due and payable in equal installments of $163,514 over the next ten years. This insurance assessment liability is recorded in the General Liability Internal Service Fund. At June 30, 2021, the assessment liability balance was $981,086.

There have been no significant changes in insurance coverage as compared to last year and the City has not experienced settlements in excess of insurance coverage during the past three fiscal years. Estimates for liabilities have been accrued in the Workers’ Compensation and General Liability Internal Service Funds. These funds also include an estimate for incurred but not reported claims.

At June 30, 2021, total estimated claims payable were as follows:

Description Amount
General Liability 7,242,057$
Workers' Compensation 12,706,596
Total 19,948,653$

A reconciliation of changes in the aggregate liabilities for claims for the current fiscal year and the prior two years is as follows:

2021 2020 2019
Claims Liabilities - Beginning Balance 18,372,816$ 15,651,443$ 13,281,946$ Incurred claims, representing the total of a
provision for events of the current fiscal
year and any change in the provision for
events of prior fiscal years 4,541,631 5,483,449 4,655,497 Payments on claims attributable to events
of both the current fiscal year and prior
fiscal years (2,965,794) (2,762,076) (2,286,000) Claims Liabilities - Ending Balance 19,948,653$ 18,372,816$ 15,651,443$

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JUNE 30, 2021

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NOTE 12 RISK MANAGEMENT (CONTINUED)
The claims liabilities are reported in the Statement of Net Position in the Government-Wide Financial Statements and in the Statement of Revenues, Expenses and Changes in Net Position in the Proprietary Fund Statements in the Internal Service Funds.

NOTE 13 OTHER REQUIRED DISCLOSURES
Deficit Fund Balance/Net Position
At June 30, 2021, deficit fund balance was reported for the Public Safety Augmentation Special Revenue Fund (Nonmajor Fund) in the amount of $(58,728). City management intends to eliminate the deficit with future receipts and/or transfers from the General Fund.

At June 30, 2021, deficit net position was reported for the Workers’ Compensation Internal Service Fund in the amount of $(8,420,621). City management intends to eliminate the deficit net position of the Workers’ Compensation Funds over time by increased charges to City departments, and making transfers from excess in other internal service funds. City management believe s the present cash position of this fund is adequate to meet current needs.

At June 30, 2021, deficit net position was reported for the General Liability Internal Service Fund in the amount of $(6,244,871). City management intends to eliminate the deficit net position of the General Liability Internal Service Fund over time by increased charges to City departments, and making transfers from excess in other internal service funds. City management believes the present cash position of this fund is adequate to meet current needs.

At June 30, 2021, deficit net position was reported for the Successor Agency Private- Purpose Trust Fund in the amount of $(88,905,572). The deficit is expected to be eliminated with future payments from the Redevelopment Property Tax Trust Fund to the Successor Agency for its long-term debt.

Excess of Expenditures over Appropriations

Total expenditures exceeded budgeted appropriations in the following funds:

Final
Budget Actual Variance
General Fund 56,187,494 $ 147,805,217 $ (91,617,723) $ Special Revenue
Retirement/Pension Liability Fund 13,169,265 20,433,030 (7,263,765) Nonmajor Special Revenue Funds:

Governmental Funds:

Maintenance District 93-1 930,074 978,321 (48,247)

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JUNE 30, 2021

(96)

NOTE 14 FUND BALANCE CLASSIFICATIONS
Fund balance classifications as of June 30, 2021, are as follows:

Retirement/ Nonmajor
General Grants Pension Housing Governmental Totals
Nonspendable:

Prepaid Items 72,590$ -$ -$ -$ -$ 72,590$ Total Nonspendable 72,590 - - - - 72,590 Restricted:

Housing - - - 2,452,424 - 2,452,424 Grants: - 1,216,277 - - - 1,216,277 Highways and Streets - - - - - - Public Safety - - - - - - Community Development - - - - - - Culture and Recreation - - - - - - Retirement - - 81,838 - - 81,838 OPA Proposition A - - - - 3,446,589 3,446,589 State Gas Tax - - - - 854,406 854,406 Measure W - - - - 128,187 128,187 Proposition C - - - - 2,246,174 2,246,174 Air Quality Improvement - - - - 307,771 307,771 A
sset Forfeiture - - - - 702,260 702,260 Business Improvement Area #1 - - - - 137,847 137,847 Maintenance District 93-1 - - - - 64,837 64,837 Measure R - - - - 2,309,447 2,309,447 Measure M - - - - 3,156,517 3,156,517 SB1-RMRA - - - - 2,661,671 2,661,671 Park Facilities - - - - 497,976 497,976 Public Safety Impact - - - - (130,495) (130,495) Circulation Development Impact - - - - 334,345 334,345 Total Restricted - 1,216,277 81,838 2,452,424 16,717,532 20,468,071 Committed:

Catastrophic Event 4,340,000 - - - - 4,340,000 Working Capital 3,000,000 - - - - 3,000,000 Economic Development 1,886,927 - - - - 1,886,927 CERCLA Liability - - - - 367,752 367,752 Total Committed 9,226,927 - - - 367,752 9,594,679 Assigned:

City Capital Improvements 21,418,237 - - - - 21,418,237 Total Assigned 21,418,237 - - - - 21,418,237 Unassigned:

General Fund 4,419,338 - - - - 4,419,338 Public Safety - - - - (58,728) (58,728) Total Unassigned 4,419,338 - - - (58,728) 4,360,610 Total Fund Balances 35,137,092$ 1,216,277$ 81,838$ 2,452,424$ 17,026,556$ 55,914,187$ Major Funds
Special Revenue Funds

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JUNE 30, 2021

(97)

NOTE 15 SUBSEQUENT EVENTS
On October 25, 2021, the City through the Monterey Park Financing Authority, issued $17,750,000 in Sale Tax Revenue Bonds, Series 2021. The proceeds from the sale of the Bonds will be used: (i) to finance certain public capital improvements in the City, including, but not limited to, rehabilitating, and (ii) to pay costs of issuance of the Bonds.

Bond interest is payable semi-annually on June 1 and December 1 commencing June 1, 2022. The rate of interest is on average 2.89% per annum. Principal is payable in annual installments ranging from $165,000 to $1,010,000 commencing on June 1, 2022 and ending on June 1, 2051.

In December 2021, the City entered into a loan agreement with the San Gabriel Valley Municipal Water District (SGVMWD), for $4,000,000. The proceeds from the loan will be used to cover costs related to planning, design, construction and construction administration incurred by the City in connection with a water treatment and removal project. The loans bears no interest. Principal payments of $400,000 are due annually through 2032.

NOTE 16 RESTATEMENT
The City adopted the provisions of the Governmental Accounting Standard Board (GASB) Statement No. 84, Fiduciary Activities, which became effective during the year ended June 30, 2021. The intention of this Statement is to improve guidance regarding the identification of fiduciary activities for accounting and financial reporting purposes and how those activities should be reported.

The implementation of the Statement required the City to restate net position/fund balance for activities previously reported in the fiduciary agency fund that did not meet the criteria of a fiduciary activity. As a result, beginning net position of the governmental activities increased by $3,973,010, the beginning fund balance of the General Fund was increased by $2,984,611, and the beginning fund balance of the Grants Special Revenue Fund was increased by $988,399.

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REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

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CITY OF MONTEREY PARK

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIOS CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM (CALPERS) –

MISCELLANEOUS PLAN
LAST TEN MEASUREMENT PERIODS1
JUNE 30, 2021

(100)

Fiscal Year Ended June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 June 30, 2017 June 30, 2016 June 30, 2015 Measurement Period June 30, 2020 June 30, 2019 June 30, 2018 June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 Total Pension Liability:

Service Cost 2,180,399$ 2,265,594$ 2,094,764$ 2,228,391$ 2,069,087$ 1,980,088$ 1,910,429$ Interest 10,151,939 9,748,249 9,247,324 8,924,469 8,653,522 8,290,095 7,992,845 Changes of Benefit Terms - ---- - - Changes of Assumptions - - (692,460) 7,347,650 - (2,040,465) - Differences Between Expected and
Actual Experience 602,063 2,073,497 (117,357) (1,360,108) (944,621) (1,849,112) - Benefit Payments, Including Refunds of
Employee Contributions (7,061,615) (6,792,973) (6,197,134) (5,324,401) (4,855,567) (4,383,243) (4,121,783) Net Change in Total Pension Liability 5,872,786 7,294,367 4,335,137 11,816,001 4,922,421 1,997,363 5,781,491 Total Pension Liability - Beginning 143,823,713 136,529,346 132,194,209 120,378,208 115,455,787 113,458,424 107,676,933 Total Pension Liability - Ending (A) 149,696,499$ 143,823,713$ 136,529,346$ 132,194,209$ 120,378,208$ 115,455,787$ 113,458,424$ Pension Fiduciary Net Position:

Contributions - Employer 4,961,827$ 4,364,979$ 4,603,513$ 3,511,958$ 3,019,357$ 2,466,015$ 2,203,100$ Contributions - Employee 919,290 1,139,478 866,540 907,755 917,401 940,132 838,784 Net Plan to Plan Resource Movement - - (229) - - - - Net Investment Income 5,122,746 6,457,617 7,707,169 9,429,350 385,286 1,789,792 12,387,447 Benefit Payments, Including Refunds of
Employee Contributions (7,061,615) (6,792,973) (6,197,134) (5,324,401) (4,855,567) (4,383,243) (4,121,783) Other Miscellaneous Income/(Expense) - 229 (271,552) - - - - Other - - - - - - - Net Change in Plan Fiduciary Net Position 3,942,248 5,169,330 6,708,307 8,524,662 (533,523) 812,696 11,307,548 Plan Fiduciary Net Position - Beginning 103,643,187 98,473,857 91,765,550 83,240,888 83,774,411 82,961,715 71,654,167 Plan Fiduciary Net Position - Ending (B) 107,585,435$ 103,643,187$ 98,473,857$ 91,765,550$ 83,240,888$ 83,774,411$ 82,961,715$ Plan Net Pension Liability - Ending (A) - (B) 42,111,064$ 40,180,526$ 38,055,489$ 40,428,659$ 37,137,320$ 31,681,376$ 30,496,709$ Plan Fiduciary Net Position as a Percentage
of the Total Pension Liability 71.87% 72.06% 72.13% 69.42% 69.15% 72.56% 73.12% Covered Payroll 11,984,909$ 11,235,594$ 11,745,064$ 11,093,630$ 11,429,792$ 11,412,611$ 10,708,680$ Net Pension Liability as a Percentage of
Covered Payroll 351.37% 357.62% 324.01% 364.43% 324.92% 277.60% 284.78% 1 This schedule is intended to show information for ten years. Additional information will be displayed as it becomes available.

Notes to Schedule:

Benefit Changes: The figures above do not include any liab ility impact that may have resulted from plan changes which occurred after June 30, 2015. This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).

Changes of Assumptions: For the measurement period 2019, there were no changes. For measurement period 2018, there were no significant changes. For the measurement period 2017, the discount rate was changed from 7.65 percent (net of ad ministrative expense) to 7.15 percent. For the measurement peri od 2016, there were no changes. For the measurement period 2015, the discount rate was changed from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expenses.) For measurement period 2014, amounts reported were based on the 7.5% discount rate.

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REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIOS (CONTINUED) CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM (CALPERS) –

SAFETY PLAN
LAST TEN MEASUREMENT PERIODS 1
JUNE 30, 2021

(101)

Service Cost 3,826,239$ 3,799,004$ 3,527,711$ 3,386,209$ 2,947,888$ 2,923,036$ 3,003,645$ Interest 15,722,454 15,282,800 14,480,120 13,751,245 13,417,480 12,911,065 12,482,279 Changes of Benefit Terms - ---- - - Changes of Assumptions - - (449,040) 11,578,272 - (3,224,562) - Differences Between Expected and
Actual Experience (2,916,658) 2,807,034 2,778,709 (2,485,932) (950,812) (1,936,767) - Benefit Payments, Including Refunds of
Employee Contributions (10,276,568) (9,782,967) (9,665,441) (9,022,216) (8,465,095) (8,086,742) (7,798,383) Net Change in Total Pension Liab ility 6,355,467 12,105,871 10,672,059 17,207,578 6,949,461 2,586,030 7,687,541 Total Pension Liability - Beginning 226,036,281 213,930,410 203,258,351 186,050,773 179,101,312 176,515,282 168,827,741 Total Pension Liability - Ending (A) 232,391,748$ 226,036,281$ 213,930,410$ 203,258,351$ 186,050,773$ 179,101,312$ 176,515,282$ Pension Fiduciary Net Position:

Contributions - Employer 6,084,397$ 5,484,667$ 4,724,661$ 4,231,618$ 3,647,109$ 3,220,567$ 2,924,318$ Contributions - Employee 1,483,430 1,282,715 1,224,504 1,181,754 1,075,386 1,046,298 1,022,948 Net Plan to Plan Resource Movement - (361) - - - - N
et Investment Income 7,842,379 10,011,998 12,034,298 15,034,493 609,810 2,899,581 21,032,695 Benefit Payments, Including Refunds of
Employee Contributions (10,276,568) (9,782,967) (9,665,441) (9,022,216) (8,465,095) (8,086,742) (7,798,383) Other Miscellaneous Income/(Expense) - 361 (434,958) - - - - Other - - - - - - - Net Change in Plan Fiduciary Net Position 5,133,638 6,996,774 7,882,703 11,425,649 (3,132,790) (920,296) 17,181,578 Plan Fiduciary Net Position - Beginning 161,864,727 154,867,953 146,985,250 135,559,601 138,692,391 139,612,687 122,431,109 Plan Fiduciary Net Position - Ending (B) 166,998,365$ 161,864,727$ 154,867,953$ 146,985,250$ 135,559,601$ 138,692,391$ 139,612,687$ Plan Net Pension Liability - Ending (A) - (B) 65,393,383$ 64,171,554$ 59,062,457$ 56,273,101$ 50,491,172$ 40,408,921$ 36,902,595$ Plan Fiduciary Net Position as a Perc entage 71.86% 71.61% 72.39% 72.31% 72.86% 77.44% 79.09% of the Total Pension Liability
Covered Payroll 13,251,294$ 12,387,062$ 11,847,348$ 12,149,124$ 11,565,157$ 11,541,643$ 11,410,291$ Net Pension Liability as a Percentage of
Covered Payroll 493.49% 518.05% 498.53% 463.19% 436.58% 350.11% 323.42% 1 This schedule is intended to show information for ten years. Additional information will be displayed as it becomes available.

Notes to Schedule:

Changes of Assumptions: Fort the measurement period 2019, there were no changes. For measurement period 2018, there were no si gnificant changes. For the measurement period 2017, the discount rate was changed from 7.65 percent (net of ad ministrative expense) to 7.15 percent. For the measurement peri od 2016, there were no changes. For the measurement period 2015, the discount rate was changed from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expenses.) For measurement period 2014, amounts reported were based on the 7.5% discount rate.

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CITY OF MONTEREY PARK

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIOS (CONTINUED)

MASSACHUSETTS MUTUAL RETIREMENT PLAN (MMRP)
LAST TEN MEASUREMENT PERIODS 1
JUNE 30, 2021

(102)

Fiscal Year Ended/Measurement Period Ended June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 June 30, 2017 June 30, 2016 June 30 , 2015 Total Pension Liability:

Service Cost - $ - $ - $ - $ - $ - $ - $ Interest 232,000 247,000 263,000 269,000 287,000 305,004 321,000 Changes of Benefit Terms - - - - - - - Differences Between Expected and
Actual Experience - 48,000 - 170,000 - - (53,000) Changes of Assumptions - (19,000) - 377,000 - - 76,000 Benefit Payments, Including Refunds of
Employee Contributions (501,000) (597,000) (641,000) (659,004) (666,000) (691,000) (702,000) Net Change in Total Pension Liability (269,000) (321,000) (378,000) 156,996 (379,000) (385,996) (358,000) Total Pension Liability - Beginning 5,454,000 5,775,000 6,153,000 5,996,004 6,375,004 6,761,000 7,119,000 Total Pension Liability - Ending (A) 5,185,000$ 5,454,000$ 5,775,000$ 6,153,000$ 5,996,004$ 6,375,004$ 6,761,000$ Pension Fiduciary Net Position:

Contributions - Employer 605,000$ 1,200,000$ 1,000,000$ 950,000$ 950,000$ 950,000$ 950,000$ Contributions - Employee - - - - - - - Net Investment Income 323,000 447,000 269,000 (98,000) 53,000 (12,000) 57,000 Benefit Payments, Including Refunds of
E
mployee Contributions (501,000) (597,000) (641,000) (659,000) (666,000) (691,000) (702,000) Administrative Expense (17,000) (17,000) (16,000) (18,000) (15,000) (14,000) (16,000) Other - - - - - - Net Change in Plan Fiduciary Net Position 410,000 1,033,000 612,000 175,000 322,000 233,000 289,000 Plan Fiduciary Net Position - Beginning 4,889,000 3,856,000 3,244,000 3,069,000 2,747,000 2,514,000 2,225,000 Plan Fiduciary Net Position - Ending (B) 5,299,000$ 4,889,000$ 3,856,000$ 3,244,000$ 3,069,000$ 2,747,000$ 2,514,000$ Plan Net Pension Liability
(Asset) - Ending (A) - (B) (114,000)$ 565,000$ 1,919,000$ 2,909,000$ 2,927,004$ 3,628,004$ 4,247,000$ Plan Fiduciary Net Position as a Percentage 102.20% 89.64% 66.77% 52.72% 51.18% 43.09% 37.18% of the Total Pension Liability
Covered Payroll -$ -$ -$ -$ -$ -$ -$ Net Pension Liability as a Percentage of
Covered Payroll n/a n/a n/a n/a n/a n/a n/a
1 This schedule is intended to show information for ten years. Additional information will be displayed as it becomes available.

Notes to Schedule:

Benefit Changes: None.

Changes of Assumptions: For 2020, mortality improvement scale was updated to Scale MP-18. For 2019,there were none. For 2018, the discount rate is changed from 4.75% to 4.5%, inflation from 3% to 2.75%, and mortality is based on CalPERS 1997-2015 experience study. For 2017 and 2016, there were none. For 2015, the discount rate was 4.75%; inflation 3% and mortality was per CalPERS 1997-2011 experience study.

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CITY OF MONTEREY PARK

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

SCHEDULE OF CONTRIBUTIONS
CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM (CALPERS) –

MISCELLANEOUS PLAN
LAST TEN FISCAL YEARS1
JUNE 30, 2021

(103)

Fiscal Year Ended June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 June 30, 2017 June 30, 2016 June 30, 2015 Contractually Required Contribution
(Actuarially Determined) 4,502,361$ 4,199,483$ 3,761,279$ 3,320,513$ 3,241,958$ 2,779,357$ 2,466,015$ Contributions in Relation to the Actuarially
Determined Contributions (45,648,992) (4,961,827) (4,364,979) (4,603,513) (3,511,958) (3,019,357) (2,466,015) Contribution Deficiency (Excess) (41,146,631)$ (762,344)$ (603,700)$ (1,283,000)$ (270,000)$ (240,000)$ -$ Covered Payroll 12,120,063$ 11,984,909$ 11,235,594$ 11,745,064$ 11,093,630$ 11,429,792$ 11,412,611$ Contributions as a Percentage of
Covered Payroll 376.64% 41.40% 38.85% 39.20% 31.66% 26.42% 21.61% Notes to Schedule:

Valuation Date 6/30/2018 6/30/2017 6/30/ 2016 6/30/2015 6/30/2014 6/30/2013 6/30/2012 Methods and Assumptions Used
to Determine Contribution Rates:

Actuarial Cost Method Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age Amortization Method (1) (1) (1) (1) (1) (1) (1)
Asset Valuation Method Market Value Market Value M arket Value Market Value Market Value Market Value 15 Year
Smoothed
Market
Inflation 2.50% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75%
Salary Increases (2) (2) (2) (2) (2) (2) (2)
Investment Rate of Return 7.15% (3) 7.375% (3) 7.375% (3) 7.50% (3) 7.50% (3) 7.50% (3) 7.50% (3) Retirement Age (4) (4) (4) (4) (4) (4) (4)
Mortality (5) (5) (5) (5) (5) (5) (5)
(1) Level percentage of payroll, closed
(2) Depending on age, service, and type of employment
1 This schedule is intended to show information for ten years. Addi tional information will be displayed as it becomes available. (3) Net of pension plan investment expense, including inflation (4) 50 for all plans with the exception of 52 for Miscellaneous PEPRA 2% @ 62 (5) Mortality assumptions are based on mortality rates resulting from the most recent CalPERS Experience Study adopted by the CalPERS Board.

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CITY OF MONTEREY PARK

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

SCHEDULE OF CONTRIBUTIONS (CONTINUED)
CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM (CALPERS) –

SAFETY PLAN
LAST TEN FISCAL YEARS1
JUNE 30, 2021

(104)

Fiscal Year Ended June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 June 30, 2017 June 30, 2016 June 30, 2015 Contractually Required Contribution
(Actuarially Determined) 6,744,705$ 6,084,397$ 5,484,667$ 4,724,661$ 4,231,618$ 3,647,109$ 3,220,567$ Contributions in Relation to the Actuarially
Determined Contributions (71,143,291) (6,084,397) (5,484,667) (4,724,661) (4,231,618) (3,647,109) (3,220,567) Contribution Deficiency (Excess) (64,398,586)$ -$ -$ -$ -$ -$ -$ Covered Payroll 13,434,829$ 13,251,294$ 12,387,062$ 11,847,348$ 12,149,124$ 11,565,157$ 11,541,643$ Contributions as a Percentage of
Covered Payroll 529.54% 45.92% 44.28% 39.88% 34.83% 31.54% 27.90% Notes to Schedule:

Valuation Date 6/30/2018 6/30/2017 6/30/ 2016 6/30/2015 6/30/2014 6/30/2013 6/30/2012 Methods and Assumptions Used
to Determine Contribution Rates:

Actuarial Cost Method Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age Amortization Method (1) (1) (1) (1) (1) (1) (1)
Asset Valuation Method Market Value Market Value M arket Value Market Value Market Value Market Value 15 Year
Smoothed
Market
Inflation 2.50% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75%
Salary Increases (2) (2) (2) (2) (2) (2) (2)
Investment Rate of Return 7.15% (3) 7.375% (3) 7.375% (3) 7.50% (3) 7.50% (3) 7.50% (3) 7.50% (3) Retirement Age (4) (4) (4) (4) (4) (4) (4)
Mortality (5) (5) (5) (5) (5) (5) (5)
(1) Level percentage of payroll, closed
(2) Depending on age, service, and type of employment
(3) Net of pension plan investment expense, including inflation (5) Mortality assumptions are based on mortality rates re sulting from the most recent CalPERS Experience Study adopted by the CalPERS Board.
1 This schedule is intended to show information for ten years. Addi tional information will be displayed as it becomes available. (4) 50 for all plans with the exception of 52 for Miscellaneous PEPRA 2% @ 62

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CITY OF MONTEREY PARK

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

SCHEDULE OF CONTRIBUTIONS (CONTINUED)
MASSACHUSETTS MUTUAL RETIREMENT PLAN (MMRP) –
LAST TEN FISCAL YEARS1
JUNE 30, 2021

(105)

June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 June 30, 2017 June 30, 2016 June 30, 2015 Actuarially Determined Contribution 605,000 $ 994,000 $ 994,000 $ 961,000 $ 961,000 $ 950,000 $ 950,000 $ Contributions in Relation to the Actuarially
Determined Contribution (605,000) (1,200,000) (1,000,000) (950,000) (950,000) (950,000) (950,000) Contribution Deficiency (Excess) - $ (206,000)$ (6,000) $ 11,000 $ 11,000 $ - $ - $ Covered Payroll - $ - $ - $ - $ - $ - $ - $ Contributions as a Percentage of Covered
Payroll n/a n/a n/a n/a n/a n/a n/a
Notes to Schedule:

Valuation Date 6/30/2019 6/30/2017 6/ 30/2017 6/30/2017 6/30/2015 6/30/2015 6/30/2015 Methods and Assumptions Used to
Determine Contribution Rates:

Actuarial Cost Method Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age Amortization Method Level Dollar Level Dollar Level Dollar Level Dollar Level Dollar Level Dollar Level Dollar Remaining Amortization Period (1) (1) (1) (1) (1)
Asset Valuation Method (2) (2) (2) (2) (2) (2) (2)
Noninvestment Expenses (3) (3) (3) (3) (3) (3) (3)
Discount Rate 4.50% 4.50% 4.50% 4.50% 4.75% 4.75% 4.75% General Inflation 2.75% 2.75% 2.75% 2.75% 3.00% 3.00% 3.00% Cost of Living Adjustment 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% Mortality (4) (4) (4) (4) (4) (4) (4)
(1) 2.8 years (closed) fresh start of 06 /30/18 UAAL for 2018/19 ADC and 4.1 years (closed) frest start of June 30, 2016 UAAL fo r FY 2016-17 ADC. (2) Market value investment gains and losses spreading over 5-year rolling period. No less than 80% nor more than 120% of marke t value. (3) Assumed to average $25,000 per year
(4) Mortality assumptions are based on mortality rates resulting fr om the most recent CalPERS Experience Study adopted by the CalPERS Board. 1 This schedule is intended to show information for ten years. Additional information will be displayed as it becomes available.

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CITY OF MONTEREY PARK

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

SCHEDULE OF CHANGES IN NET OPEB LIABILITY AND RELATED RATIOS LAST TEN MEASUREMENT PERIODS 1
JUNE 30, 2021

(106)

Fiscal Year Ended June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 Measurement Period June 30, 2020 June 30, 2019 June 30, 2018 June 30, 2017 Total OPEB Liability:

Service Cost 822,907$ 1,014,890$ 985,000$ 956,000$ Interest 2,199,290 2,418,231 2,307,000 2,204,000 Changes of Benefit Terms - - - - Differences Between Expected and Actual Experience - (5,065,175) - - Changes of Assumptions - (1,135,595) - - Benefit Payments, Including Refunds of Employee Contributions (1,695,000) (1,628,685) (1,580,000) (1,653,000) Net Change in Total OPEB Liability 1,327,197 (4,396,334) 1,712,000 1,507,000 Total OPEB Liability - Beginning 32,606,666 37,003,000 35,291,000 33,784,000 Total OPEB Liability - Ending (A) 33,933,863$ 32,606,666$ 37,003,000$ 35,291,000$ OPEB Fiduciary Net Position:

Contributions - Employer 2,710,000$ 2,694,599$ 2,565,000$ 2,703,000$ Contributions - Employee - - - - Net Investment Income 318,876 468,237 491,000 475,000 Benefit Payments, Including Refunds of Employee Contributions (1,695,000) (1,628,685) (1,580,000) (1,653,000) Administrative Expense (19,470) (17,545) (10,000) (2,000) Net Change in Plan Fiduciary Net Position 1,314,406 1,516,606 1,466,000 1,523,000 Plan Fiduciary Net Position - Beginning 8,175,606 6,659,000 5,193,000 3,670,000 Plan Fiduciary Net Position - Ending (B) 9,490,012$ 8,175,606$ 6,659,000$ 5,193,000$ Plan's Net OPEB Liability - Ending (A) - (B) 24,443,851$ 24,431,060$ 30,344,000$ 30,098,000$ Plan Fiduciary Net Position as a Percentage of
the Total OPEB Liability 27.97% 25.07% 18.00% 14.71%
Covered-Employee Payroll 25,791,000$ 29,951,647$ 28,530,000$ 27,659,000$ Plan's Net OPEB Liability as a Percentage
of Covered-Employee Payroll 94.78% 81.57% 106.36% 108.82% 1 This schedule is intended to show information for ten years. Additional information will be displayed as it becomes available.

Notes to Schedule:

Benefit Changes: None
Changes of Assumptions:

For measurement period ended June 30, 2019, discount rate was changed from 6.50% to 6.75%, demographic assumptions were updated to CalPERS 1997-2015 Experience Summary, mortality improvement scale was updated to Scale MP-2019, and PEMHCA Minimum Trend was updated.

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CITY OF MONTEREY PARK

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

SCHEDULE OF CONTRIBUTIONS - OPEB

LAST TEN FISCAL YEARS
JUNE 30, 2021

(107)

June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 Actuarially Determined Contribution 2,487,000 $ 2,999,000 $ 2,925,000 $ 2,855,000 $ Contributions in Relation to the
Actuarially Determined Contribution (2,760,000) (2,710,000) (2,694,599) (2,565,000) Contribution Deficiency (Excess) (273,000) $ 289,000 $ 230,401 $ 290,000 $ Covered-Employee Payroll 25,378,000 $ 25,791,000 $ 29,951,647 $ 28,530,000 $ Contributions as a Percentage of
Covered-Employee Payroll 10.88% 10.51% 9.00% 8.99%
Notes to Schedule:

Valuation Date: June 30, 2019 June 30, 2019 June 30, 2017 June 30, 2017 Methods and Assumptions Used to
Determine Contribution Rates:

Actuarial Cost Method Entry Age Entry Age Entry Age Entry Age Amortization Method (1) (1) (1) (1)
Asset Valuation Method (2) (2) (2) (2)
Discount Rate 6.75% 6.75% 6.50% 6.50%
Inflation 2.75% 2.75% 2.75% 2.75%
Medical Trend (3):

Non-Medicare 7.25% to 4.0% 7.25% to 4.0% 7.5% to 4.0% 7.5% to 4.0% Medicare 6.3% to 4.0% 6.3% to 4.0% 6.5% to 4.0% 6.5% to 4.0% Mortality (4) (4) (4) (4)
(3) Rate decreasing to an ultimate rate in 2076 and later years (4) CalPERS 1997-2011 experience study. Mortality projected fully generational with Scale MP-16. 1 This schedule is intended to show information for ten years. Additional information will be displayed as it becomes available.
(1) Level percentage of pay; 25-year amortization period (2) Investment gains and losses spread over 5-year rolling period

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CITY OF MONTEREY PARK

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

GENERAL FUND

BUDGETARY COMPARISON SCHEDULE
YEAR ENDED JUNE 30, 2021

(108)

Budgeted Amounts
Variance with
Original Final Actual Final Budget

REVENUES
Taxes 31,583,689 $ 32,696,976 $ 34,881,186 $ 2,184,210 $ Licenses and Permits 2,476,723 2,029,313 1,849,831 (179,482) Charges for Services 5,376,986 7,190,666 6,344,336 (846,330) Revenues from Use of Money and Property 2,045,500 1,295,500 388,504 (906,996) Fines and Forfeitures 710,600 500,000 354,802 (145,198) Other Revenue 2,155,855 757,705 1,619,239 861,534 Total Revenues 44,349,353 44,470,160 45,437,898 967,738

EXPENDITURES
Current:

General Government 8,865,594 8,619,914 104,127,643 (95,507,729) Public Safety 27,488,743 27,538,042 26,933,033 605,009 Community Development 428,397 428,397 280,648 147,749 Culture and Recreation 5,420,193 5,504,713 4,708,508 796,205 Highways and Streets 1,680,431 1,805,985 2,084,489 (278,504) Capital Outlay - 11,402,357 8,020,508 3,381,849 Debt Service:

Debt Issuance Costs - - 743,285 (743,285) Principal Retirement 84,547 84,547 84,547 - Interest and Fiscal Charges 36,139 36,139 55,156 (19,017) Total Expenditures 44,004,044 55,420,094 147,037,817 (91,617,723)

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES 345,309 (10,949,934) (101,599,919) (90,649,985)

OTHER FINANCING SOURCES (USES)
Transfers In - - 1,255,421 1,255,421 Transfers Out (1,805,552) (2,819,394) (3,586,794) (767,400) Capital Lease -
- 2,682,300 2,682,300
Issuance of Debt - - 100,892,026 100,892,026 Total Other Financing Sources (Uses) (1,805,552) (2,819,394) 101,242,953 104,062,347 NET CHANGE IN FUND BALANCE (1,460,243)$ (13,769,328)$ (356,966) 13,412,362$ Fund Balance, Beginning of Year 35,494,058
FUND BALANCE, END OF YEAR 35,137,092$
(1) Budgeted capital outlay does not include prior year CIP carryovers, but the actual capital outlay includes cost of work of CIP carryovers.

General Fund

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CITY OF MONTEREY PARK

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

SPECIAL REVENUE GRANTS FUNDS

BUDGETARY COMPARISON SCHEDULE
YEAR ENDED JUNE 30, 2021

(109)

Budgeted Amounts
Variance with
Original Final Actual Final Budget

REVENUES
Intergovernmental Revenues 1,489,578$ 2,974,494$ 3,322,441$ 347,947$ Revenues from Use of Money and Property 15,456 22,456 64,623 42,167 Total Revenues 1,505,034 2,996,950 3,387,064 390,114

EXPENDITURES
Current:

General Government 439,361 2,822,629 1,539,105 1,283,524 Public Safety 421,905 926,907 1,179,114 (252,207) Culture and Recreation 226,495 293,086 228,203 64,883 Highways and Streets 32,120 32,120 29,298 2,822 Capital Outlay - 2,462,083 17,802 2,444,281 Debt Service:

Principal Retirement 479,000 593,953 600,879 (6,926) Interest and Fiscal Charges 29,886 29,886 10,867 19,019 Total Expenditures 1,628,767 7,160,665 3,605,268 3,555,397

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (123,733) (4,163,715) (218,204) 3,945,511

OTHER FINANCING USES
Transfers In - - 13,842 13,842 Transfers Out - - (1,301,314) (1,301,314) Total Other Financing Uses - - (1,287,472) (1,287,472) NET CHANGE IN FUND BALANCE (123,733)$ (4,163,715)$ (1,505,676) 2,658,039$ Fund Balance, Beginning of Year, as Restated 2,721,953
FUND BALANCE, END OF YEAR 1,216,277$
Special Revenue Grants Fund

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CITY OF MONTEREY PARK

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

SPECIAL REVENUE RETIREMENT/PENSION LIABILITY FUND

BUDGETARY COMPARISON SCHEDULE
YEAR ENDED JUNE 30, 2021

(110)

Budgeted Amounts
Variance with
Original Final Actual Final Budget -

REVENUES
Taxes 7,493,186$ 7,493,186 9,285,658$ 1,792,472$ Revenues from Use of Money and Property 15,514 15,514 127 (15,387) Other Revenue 1,000,000 1,000,000 - (1,000,000) Total Revenues 8,508,700 8,508,700 9,285,785 777,085

EXPENDITURES
Current:

General Government 1,781,990 2,790,554 9,936,559 (7,146,005) Public Safety 7,908,975 7,901,975 8,231,539 (329,564) Community Development 90,328 90,328 72,437 17,891 Culture and Recreation 907,592 907,592 781,179 126,413 Highways and Streets 310,586 310,586 243,086 67,500 Debt Service:

Principal Retirement 430,000 430,000 430,000 - Interest and Fiscal Charges 738,230 738,230 738,230 - Total Expenditures 12,167,701 13,169,265 20,433,030 (7,263,765)

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (3,659,001) (4,660,565) (11,147,245) (6,486,680)

OTHER FINANCING SOURCES
Transfers In 4,000,000 4,000,000 3,218,932 (781,068) Total Other Financing Sources 4,000,000 4,000,000 3,218,932 (781,068) NET CHANGE IN FUND BALANCE 340,999$ (660,565)$ (7,928,313) (7,267,748)$ Fund Balance, Beginning Of Year 8,010,151
FUND BALANCE, END OF YEAR 81,838$
Special Revenue Retirement/Pension Liability

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CITY OF MONTEREY PARK

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)

SPECIAL REVENUE HOUSING FUND

BUDGETARY COMPARISON SCHEDULE
YEAR ENDED JUNE 30, 2021

(111)

Budgeted Amounts
Variance with
Original Final Actual Final Budget

REVENUES
Revenues from Use of Money and Property - $ - $ 4,239$ 4,239 $ Other Revenue 60,000 60,000 2,791 (57,209) Total Revenues 60,000 60,000 7,030 (52,970)

EXPENDITURES
Current:

Community Development 60,000 60,000 - 60,000 Total Expenditures 60,000 60,000 - 60,000

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES - - 7,030 7,030 NET CHANGE IN FUND BALANCE -$ - $ 7,030 7,030 $ Fund Balance, Beginning Of Year 2,445,394
FUND BALANCE, END OF YEAR 2,452,424$
Special Revenue Housing

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CITY OF MONTEREY PARK

NOTES TO REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED) JUNE 30, 2021

(112)

Budgetary Control and Accounting
The City adheres to the following general procedure in establishing the budgetary data reflected in the financial statements:

The annual budget adopted by the City Council serves as a guideline for the operations of the City. It includes proposed expenditures and estimated revenues and is legally adopted for the General and Special Revenue Fund Types. Budgeted expenditures are controlled at the fund level. Council approval is required for an increase or decrease in total appropriations.

Appropriated amounts are as originally adopted or as adjusted by the City Council throughout the year. During 2020-2021, General Fund b udgetary appropriation went up by $12.2 million primarily due to the carryover capital outlay budget; the Special Revenue Grants F und budget went up by $5.4 million, which was related to various grants received; and the Retirement/Pension Liability Fund budget went up by $1.0 million which was related to MOU ad
justments.

Budgets for the General and Special Revenue Fund Types are adopted on a basis consistent with the generally accepted accounting principles. The modified-accrual basis of accounting is employed in the preparation of the budget for these fund types.

The budget is formally integrated into the accounting system and employed as management control device during the year for all governmental funds. At fiscal year-end, unexpended and unencumbered budget appropriations lapse. Encumbrances outstanding at year-end are carried into the following year for continuing appropriation.

Under Article XIII-B of the California Constitution (The Gann Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations, and if certain proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller or refunded to the taxpayers through revised tax rate or revised fee schedules. For the fiscal year ended June 30, 2021, based on calculations by City Management, proceeds of taxes did not exceed the appropriations limit.

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(113)

SUPPLEMENTARY INFORMATION

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CITY OF MONTEREY PARK

NONMAJOR GOVERNMENTAL FUNDS

SPECIAL REVENUE FUNDS

(114)

Special Revenue Funds account for the proceeds of specific revenue sources that are restricted by law or administrative regulation for specified purposes. Special Revenue Funds include the following:

Proposition A Fund - used to account for the City's share of an additional one-half percent sales tax which was approved by the electorate in November 1980 and is collected by the County of Los Angeles to finance transportation projects such as the Monterey Park Spirit Buses and the Dial-A-Ride program.

Gas Tax Fund - used to account for expenditures financed by money apportioned under the Streets and Highways Code of the State of California.

Measure W Fund - used to account for the City's share of a special parcel tax based on impermeable areas within the jurisdiction of the Los Angeles County Flood Control District, approved by the electorate in November 2018 as the Safe Clean Water (SCW) Program, to fund projects and programs that improve water quality, increase stormwater and urban runoff capture and reduce stormwater and urban runoff pollution in the District.

Proposition C Fund - used to account for the City's share of an additional one-half percent sales tax which was approved by the electorate in November 1990 and is collected by the County of Los Angeles to finance transit projects within the City.

Air Quality Improvement Fund - used to account for the City's share of additional motor vehicle registration fees imposed by the South Coast Air Quality Management District to finance the implementation of mobile source emission reduction programs and the provisions of the California Clean Air Act.

Asset Forfeiture Fund - used to account for revenues derived from monies and property seized by the Police Department in drug related incidence. These funds may only be expended on activities used to enhance drug enforcement activities.

Parks/Library/Public Facilities DIF Fund - used to account for the acquisition and development of parks, library facilities space and collections, that are financed by developer fees, established pursuant to Monterey Park Municipal Code Section 66006.

Business Improvement Area #1 Fund - used to account for receipts and expenditures relating to the promotion of business activities in the downtown area of the City.

Maintenance District 93-1 Fund - used to account for receipts and expenditures relating to the citywide benefit assessment district for street lighting and median maintenance.

Law Enforcement/Fire/Medic DIF Fund - used to account for fees collected on new commercial and residential development. These funds will be used exclusively to finance public safety service expansion.

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CITY OF MONTEREY PARK

NONMAJOR GOVERNMENTAL FUNDS

SPECIAL REVENUE FUNDS (CONTINUED)

(115)

Public Safety Augmentation Fund - used to account for the City's share of the one-half percent sales tax which was approved by the electorate in November of 1993 (Proposition 172). The proceeds are earmarked exclusively for public safety purposes.

Measure R Fund -u s e dt oa c c o u n tf or the City's share of ½-cent sales tax which was approved by Los Angeles County voters in November 2008 to pay for transportation needs. The proceeds are used exclusively for streets and roads, traffic control, public transit, and bicycle and pedestrian improvements.

Circulation DIF Fund - used to account for fees collected on new commercial and residential development.

These funds will be used exclusively to improve street lanes, intersections, and traffic management.

CERCLA Liability Fund - used to account for fees collected from the City's permitted haulers for each ton of waste that they dispose. The funds are to be only used to cover future environmental liability costs resulting from incidents falling under the Comprehensive Environmental Response Cleanup and Liability Act (CERCLA).

SB1 - RMRA Fund - used to account for the City's 12-cent per gallon gas tax began on November 2017 and new vehicle registration taxes began January 2018. The funds are to address basic road maintenance, rehabilitation and critical safety needs on the local street and road system.

Measure M Fund- used to account for the City's share of an additional half-cent sales tax that became effective on July 1, 2017. The funds are allocated to jurisdictions on a per capita basis. The funds are to improve transportation and ease traffic congestion.

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CITY OF MONTEREY PARK

COMBINING BALANCE SHEET - NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2021

(116)

Air
Proposition Proposition Quality
A Gas Tax Measure W C Improvement
ASSETS
Cash and Investments 3,463,686$ 929,384$ 128,089$ 2,250,782$ 307,717$ Accounts Receivable 106,715 - - - - Interest Receivable 2,645 706 98 1,625 235 Total Assets 3,573,046$ 930,090$ 128,187$ 2,252,407$ 307,952$

LIABILITIES AND

FUND BALANCES

LIABILITIES
Accounts Payable 15,066$ 70,354$ -$ 5,286$ -$ Accrued Payroll 4,676 5,330 - 947 181 Due to Other Funds - - - - - Total Liabilities 19,742 75,684 - 6,233 181

DEFERRED INFLOW OF RESOURCES
Unavailable Revenue 106,715 - - - -

FUND BALANCES (DEFICITS)
Restricted 3,446,589 854,406 128,187 2,246,174 307,771 Committed - - - - - Unassigned - - - - - Total Fund Balances (Deficits) 3,446,589 854,406 128,187 2,246,174 307,771 Total Liabilities, Deferred Inflow of
Resources, and Fund Balances 3,573,046$ 930,090$ 128,187$ 2,252,407$ 307,952$ Special Revenue Funds

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CITY OF MONTEREY PARK

COMBINING BALANCE SHEET - NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) JUNE 30, 2021

(117)

Business Maintenance Law Enforcement/
Asset Parks/Library/ Improvement District Fire/Medic
Forfeiture Facilities DIF Area #1 93-1 DIF
ASSETS
Cash and Investments 705,959$ 497,635$ 144,937$ 55,095$ -$ Accounts Receivable - - - 15,713 - Interest Receivable 542 352 110 - - Total Assets 706,501$ 497,987$ 145,047$ 70,808$ -$

LIABILITIES AND

FUND BALANCES

LIABILITIES
Accounts Payable 4,241$ 11$ 7,200$ 4,359$ -$ Accrued Payroll - - - 1,612 - Due to Other Funds - - - - 130,495 Total Liabilities 4,241 11 7,200 5,971 130,495

DEFERRED INFLOW OF RESOURCES
Unavailable Revenue - - - - -

FUND BALANCES (DEFICITS)
Restricted 702,260 497,976 137,847 64,837 (130,495) Committed - - - - - Unassigned - - - - - Total Fund Balances (Deficits) 702,260 497,976 137,847 64,837 (130,495) Total Liabilities, Deferred Inflow of
Resources, and Fund Balances 706,501$ 497,987$ 145,047$ 70,808$ -$ Special Revenue Funds

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CITY OF MONTEREY PARK

COMBINING BALANCE SHEET - NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) JUNE 30, 2021

(118)

Public
Safety Circulation CERCLA
Augmentation Measure R DIF Liability SB1 - RMRA
ASSETS
Cash and Investments -$ 2,477,165$ 334,098$ 366,422$ 2,454,622$ Accounts Receivable 147,482 - - 1,050 205,175 Interest Receivable - 1,892 247 280 1,874 Total Assets 147,482$ 2,479,057$ 334,345$ 367,752$ 2,661,671$

LIABILITIES AND

FUND BALANCES

LIABILITIES
Accounts Payable -$ 168,855$ -$ -$ -$ Accrued Payroll - 755 - - - Due to Other Funds 206,210 - - - - Total Liabilities 206,210 169,610 - - -

DEFERRED INFLOW OF RESOURCES
Unavailable Revenue - - - - -

FUND BALANCES (DEFICITS)
Restricted - 2,309,447 334,345 - 2,661,671 Committed - - - 367,752 - Unassigned (58,728) - - - - Total Fund Balances (Deficits) (58,728) 2,309,447 334,345 367,752 2,661,671 Total Liabilities, Deferred Inflow of
Resources, and Fund Balances 147,482$ 2,479,057$ 334,345$ 367,752$ 2,661,671$ Special Revenue Funds

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CITY OF MONTEREY PARK

COMBINING BALANCE SHEET - NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) JUNE 30, 2021

(119)

Special
Revenue
Funds
Total Nonmajor
Governmental
Measure M Funds
ASSETS
Cash and Investments 3,154,109$ 17,269,700$
Accounts Receivable - 476,135
Interest Receivable 2,408 13,014
Total Assets 3,156,517$ 17,758,849$

LIABILITIES AND

FUND BALANCES

LIABILITIES
Accounts Payable -$ 275,372$
Accrued Payroll - 13,501
Due to Other Funds - 336,705
Total Liabilities - 625,578

DEFERRED INFLOW OF RESOURCES
Unavailable Revenue - 106,715

FUND BALANCES (DEFICITS)
Restricted 3,156,517 16,717,532
Committed - 367,752
Unassigned - (58,728)
Total Fund Balances (Deficits) 3,156,517 17,026,556 Total Liabilities, Deferred Inflow of
Resources, and Fund Balances 3,156,517$ 17,758,849$

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CITY OF MONTEREY PARK

COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND

CHANGES IN FUND BALANCES - NONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2021

(120)

Air Quality
Proposition A Gas Tax Measure W Proposition C Improvement

REVENUES
Taxes -$ -$ -$ -$ -$ Intergovernmental Revenues 1,246,542 1,319,065 727,939 1,031,842 78,491 Charges for Services 3,803 - - - - Revenues from Use of
Money and Property 11,617 7,668 248 7,437 1,075 Fines and Forfeitures - - - - - Total Revenues 1,261,962 1,326,733 728,187 1,039,279 79,566

EXPENDITURES
Current:

General Government - - - 7,052 - Public Safety 44,586 189,146 - - - Community Development - - - 23,880 - Culture and Recreation 527,707 - - - - Highways and Streets 435,269 1,012,934 600,000 206,109 7,702 Health - - - - - Capital Outlay - - - 19,311 - Debt Service:

Principal Retirement - - - - - Interest and Fiscal Charges - - - - - Total Expenditures 1,007,562 1,202,080 600,000 256,352 7,702

EXCESS (DEFICIENCY) OF
R
EVENUES OVER EXPENDITURES 254,400 124,653 128,187 782,927 71,864

OTHER FINANCING SOURCES (USES)
Transfers In - - - - - Transfers Out (14,600) (22,200) - (1,900) - Total Other Financing Sources (Uses) (14,600) (22,200) - (1,900) - NET CHANGES IN FUND BALANCES 239,800 102,453 128,187 781,027 71,864 Fund Balances (Deficits),
Beginning of Year 3,206,789 751,953 - 1,465,147 235,907

FUND BALANCES (DEFICITS),
END OF YEAR 3,446,589$ 854,406$ 128,187$ 2,246,174$ 307,771$ Special Revenue Funds

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CITY OF MONTEREY PARK

COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND

CHANGES IN FUND BALANCES - NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) YEAR ENDED JUNE 30, 2021

(121)

Business Maintenance Law Enforcement/
Asset Parks/Library/ Improvement District Fire/Medic
Forfeiture Facilities DIF Area #1 93-1 DIF

REVENUES
Taxes -$ -$ 65,503$ 1,000,490$ -$ Intergovernmental Revenues - - - - - Charges for Services - 46,541 - - 37,189 Revenues from Use of
Money and Property 2,042 1,655 302 - (142) Fines and Forfeitures 90,739 - - - - Total Revenues 92,781 48,196 65,805 1,000,490 37,047

EXPENDITURES
Current:

General Government - - - 13,382 - Public Safety 199,874 - - - 88,720 Community Development - - 53,662 - - Culture and Recreation - - - 304,976 - Highways and Streets - - - 659,963 - Health - - - - - Capital Outlay 23,462 553,385 - - 636,618 Debt Service:

Principal Retirement 8,602 - - - 30,000 Interest and Fiscal Charges 5,388 - - - - Total Expenditures 237,326 553,385 53,662 978,321 755,338

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (144,545) (505,189) 12,143 22,169 (718,291)

OTHER FINANCING SOURCES (USES)
Transfers In - - - - - Transfers Out - - - - - Total Other Financing Sources (Uses) - - - - - NET CHANGES IN FUND BALANCES (144,545) (505,189) 12,143 22,169 (718,291) Fund Balances (Deficits),
Beginning of Year 846,805 1,003,165 125,704 42,668 587,796

FUND BALANCES (DEFICITS),
END OF YEAR 702,260$ 497,976$ 137,847$ 64,837$ (130,495)$ Special Revenue Funds

Page 198 of 278 ends

CITY OF MONTEREY PARK

COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND

CHANGES IN FUND BALANCES - NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) YEAR ENDED JUNE 30, 2021

(122)

Public
Safety Circulation CERCLA
Augmentation Measure R DIF Liability SB1 - RMRA

REVENUES
Taxes -$ -$ -$ -$ -$ Intergovernmental Revenues 789,917 774,954 - 135,669 1,125,921 Charges for Services - - 26,208 - - Revenues from Use of
Money and Property - 8,547 1,073 - 8,900 Fines and Forfeitures - - - 1,200 - Total Revenues 789,917 783,501 27,281 136,869 1,134,821

EXPENDITURES
Current:

General Government - 7,672 - - - Public Safety 776,000 - - - - Community Development - - - - - Culture and Recreation - 67,753 - - - Highways and Streets - 242,799 - - - Health - - - 187,500 - Capital Outlay - 384,316 - - - Debt Service:

Principal Retirement - - - - - Interest and Fiscal Charges - - - - - Total Expenditures 776,000 702,540 - 187,500 -

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES 13,917 80,961 27,281 (50,631) 1,134,821

OTHER FINANCING SOURCES (USES)
Transfers In - - - - - Transfers Out - (2,400) - - - Total Other Financing Sources (Uses) - (2,400) - - - NET CHANGES IN FUND BALANCES 13,917 78,561 27,281 (50,631) 1,134,821 Fund Balances (Deficits),
Beginning of Year (72,645) 2,230,886 307,064 418,383 1,526,850

FUND BALANCES (DEFICITS),
END OF YEAR (58,728)$ 2,309,447$ 334,345$ 367,752$ 2,661,671$ Special Revenue Funds

Page 199 of 278 ends

CITY OF MONTEREY PARK

COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND

CHANGES IN FUND BALANCES - NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) YEAR ENDED JUNE 30, 2021

(123)

Special
Revenue
Funds
Total Nonmajor
Governmental
Measure M Funds

REVENUES
Taxes - $ 1,065,993$
Intergovernmental Revenues 878,051 8,108,391 Charges for Services - 113,741
Revenues from Use of
Money and Property 10,878 61,300
Fines and Forfeitures - 91,939
Total Revenues 888,929 9,441,364

EXPENDITURES
Current:

General Government - 28,106
Public Safety - 1,298,326
Community Development - 77,542
Culture and Recreation - 900,436 Highways and Streets 100,000 3,264,776
Health - 187,500
Capital Outlay - 1,617,092
Debt Service:

Principal Retirement - 38,602
Interest and Fiscal Charges - 5,388 Total Expenditures 100,000 7,417,768

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES 788,929 2,023,596

OTHER FINANCING SOURCES (USES)
Transfers In - -
Transfers Out - (41,100)
Total Other Financing Sources (Uses) - (41,100) NET CHANGES IN FUND BALANCES 788,929 1,982,496 Fund Balances (Deficits),
Beginning of Year 2,367,588 15,044,060

FUND BALANCES (DEFICITS),
END OF YEAR 3,156,517$ 17,026,556 $

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CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE PROPOSITION A FUND
YEAR ENDED JUNE 30, 2021

(124)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Intergovernmental Revenues 1,403,194 $ 1,246,542 $ (156,652) $ Charges for Services 68,500 3,803 (64,697) Revenues from Use of Money and Property 25,000 11,617 (13,383) Total Revenues 1,496,694 1,261,962 (234,732)

EXPENDITURES
Current:

Public Safety 87,900 44,586 43,314 Culture and Recreation 727,418 527,707 199,711 Highways and Streets 1,222,850 435,269 787,581 Capital Outlay 781,198 - 781,198 Total Expenditures 2,819,366 1,007,562 1,811,804 NET CHANGE IN FUND BALANCE (1,322,672)$ 239,800 1,562,472 $ Fund Balance, Beginning of Year 3,206,789
FUND BALANCE, END OF YEAR 3,446,589$

Page 201 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE GAS TAX FUND
YEAR ENDED JUNE 30, 2021

(125)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Intergovernmental Revenues 1,540,878 $ 1,319,065 $ (221,813) $ Revenues from Use of Money and Property 20,000 7,668 (12,332) Total Revenues 1,560,878 1,326,733 (234,145)

EXPENDITURES
Current:

Community Development 280,732 189,146 91,586 Health 1,696,904 1,012,934 683,970
Total Expenditures 1,977,636 1,202,080 775,556

NET CHANGE IN FUND BALANCE (416,758)$ 124,653 541,411 $ Fund Balance, Beginning of Year 751,953
FUND BALANCE, END OF YEAR 876,606$

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CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE MEASURE W FUND
YEAR ENDED JUNE 30, 2021

(126)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Intergovernmental Revenues 740,000$ 727,939$ (12,061)$ Revenues from Use of Money and Property - 248 248 Total Revenues 740,000 728,187 (11,813)

EXPENDITURES
Current:

Highways and Streets 629,444 600,000 29,444 Total Expenditures 629,444 600,000 29,444

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES 110,556$ 128,187 17,631$ Fund Balance, Beginning of Year -
FUND BALANCE, END OF YEAR 128,187$

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CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE PROPOSITION C FUND
YEAR ENDED JUNE 30, 2021

(127)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Intergovernmental Revenues 1,080,965$ 1,031,842$ (49,123)$ Revenues from Use of Money and Property 10,000 7,437 (2,563) Total Revenues 1,090,965 1,039,279 (51,686)

EXPENDITURES
Current:

General Government 14,300 7,052 7,248 Community Development 27,000 23,880 3,120 Highways and Streets 799,510 206,109 593,401 Capital Outlay 467,103 19,311 447,792 Total Expenditures 1,307,913 256,352 1,051,561 NET CHANGE IN FUND BALANCE (216,948)$ 781,027 997,975$ Fund Balance, Beginning of Year 1,465,147
FUND BALANCE, END OF YEAR 2,246,174$

Page 204 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE AIR QUALITY IMPROVEMENT FUND
YEAR ENDED JUNE 30, 2021

(128)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Intergovernmental Revenues 82,000 $ 78,491 $ (3,509) $ Revenues from Use of Money and Property 2,500 1,075 (1,425) Total Revenues 84,500 79,566 (4,934)

EXPENDITURES
Current:

Highways and Streets 22,000 7,702 14,298 Total Expenditures 22,000 7,702 14,298 NET CHANGE IN FUND BALANCE 62,500$ 71,864 9,364 $ Fund Balance, Beginning of Year 235,907
FUND BALANCE, END OF YEAR 307,771$

Page 205 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE ASSET FORFEITURE FUND
YEAR ENDED JUNE 30, 2021

(129)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Revenues from Use of Money and Property 5,000$ 2,042$ (2,958)$ Fines and Forfeitures 294,787 90,739 (204,048) Total Revenues 299,787 92,781 (207,006)

EXPENDITURES
Current:

Public Safety 332,299 199,874 132,425 Capital Outlay 31,000 23,462 7,538 Total Expenditures 384,214 237,326 146,888

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (84,427)$ (144,545) (60,118)$ Fund Balance, Beginning of Year 846,805
FUND BALANCE, END OF YEAR 702,260$

Page 206 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE PARKS/LIBRARY/FACILITIES DIF FUND
YEAR ENDED JUNE 30, 2021

(130)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Charges for Services 200,500 $ 46,541 $ (153,959) $ Revenues from Use of Money and Property - 1,655 1,655 Fines and Forfeitures 1,000 - (1,000) Total Revenues 201,500 48,196 (153,304)

EXPENDITURES
Capital Outlay 618,811 553,385 65,426 Total Expenditures 618,811 553,385 65,426

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (417,311) (505,189) (87,878) $ Fund Balance, Beginning of Year 1,003,165
FUND BALANCE, END OF YEAR 497,976$

Page 207 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE
SPECIAL REVENUE BUSINESS IMPROVEMENT AREA #1 FUND
YEAR ENDED JUNE 30, 2021

(131)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Taxes 72,000 $ 65,503 $ (6,497) $ Revenues from Use of Money and Property - 302 302 Total Revenues 72,000 65,805 (6,195)

EXPENDITURES
Current:

Community Development 89,539 53,662 35,877 Total Expenditures 89,539 53,662 35,877

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (17,539)$ 12,143 29,682 $ Fund Balance, Beginning of Year 125,704
FUND BALANCE, END OF YEAR 137,847$

Page 208 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE
SPECIAL REVENUE MAINTENANCE DISTRICT 93-1 FUND
YEAR ENDED JUNE 30, 2021

(132)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Taxes 999,775 $ 1,000,490 $ 715 $
Total Revenues 999,775 1,000,490 715

EXPENDITURES
Current:

General Government 45,300 13,382 31,918 Culture and Recreation 399,556 304,976 94,580 Highways and Streets 485,218 659,963 (174,745) Total Expenditures 930,074 978,321 (48,247)

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES 69,701$ 22,169 (47,532) $ Fund Balance, Beginning of Year 42,668
FUND BALANCE, END OF YEAR 64,837$

Page 209 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE LAW ENFORCEMENT/FIRE/MEDIC DIF FUND
YEAR ENDED JUNE 30, 2021

(133)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Charges for Services 166,000 $ 37,189 $ (128,811) $ Revenues from Use of Money and Property 1,500 (142) (1,642) Total Revenues 167,500 37,047 (130,453)

EXPENDITURES
Current:

Public Safety 85,799 88,720 (2,921) Capital Outlay 709,389 636,618 72,771 Debt Service:

Principal Retirement 30,000 30,000 - Total Expenditures 825,188 755,338 69,850

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (657,688)$ (718,291) (60,603) $ Fund Balance, Beginning of Year 587,796
FUND BALANCE, END OF YEAR (130,495)$

Page 210 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE PUBLIC SAFETY AUGMENTATION FUND
YEAR ENDED JUNE 30, 2021

(134)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Intergovernmental Revenues 780,000$ 789,917$ 9,917$ Total Revenues 780,000 789,917 9,917

EXPENDITURES
Current:

General Government 892,400 776,000 116,400 Total Expenditures 892,400 776,000 116,400

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (112,400)$ 13,917 126,317$ Fund Balance, Beginning of Year (72,645)
FUND BALANCE, END OF YEAR (58,728)$

Page 211 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE MEASURE R FUND
YEAR ENDED JUNE 30, 2021

(135)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Intergovernmental Revenues 810,807 $ 774,954 $ (35,853) $ Revenues from Use of Money and Property 20,000 8,547 (11,453) Total Revenues 830,807 783,501 (47,306)

EXPENDITURES
Current:

General Government 17,300 7,672 9,628 Culture and Recreation 81,406 67,753 13,653 Highways and Streets 378,614 242,799 135,815 Capital Outlay 2,170,490 384,316 1,786,174 Total Expenditures 2,647,810 702,540 1,945,270

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (1,817,003)$ 80,961 1,897,964 $ Fund Balance, Beginning of Year 2,230,886
FUND BALANCE, END OF YEAR 2,309,447$

Page 212 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE CIRCULATION DIF FUND
YEAR ENDED JUNE 30, 2021

(136)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Taxes - $ - $ - $ Revenues from Use of Money and Property 1,000 1,073 73 Total Revenues 1,000 27,281 26,281

EXPENDITURES
Current:

Community Development - - - Total Expenditures - - -

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES 1,000$ 27,281 26,281 $ Fund Balance, Beginning of Year 307,064
FUND BALANCE, END OF YEAR 334,345$

Page 213 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE CERCLA LIABILITY FUND
YEAR ENDED JUNE 30, 2021

(137)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Intergovernmental Revenues 182,500 $ 135,669 $ (46,831) $ Fines and Forfeitures 5,000 1,200 (3,800) Total Revenues 187,500 136,869 (50,631)

EXPENDITURES
Current:

Health 187,500 187,500 -
Total Expenditures 187,500 187,500 -

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES -$ (50,631) (50,631) $ Fund Balance, Beginning of Year 418,383
FUND BALANCE, END OF YEAR 367,752$

Page 214 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE
SPECIAL REVENUE SB1-RMRA FUND
YEAR ENDED JUNE 30, 2021

(138)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Intergovernmental Revenues 1,167,736 $ 1,125,921 $ (41,815) $ Revenues from Use of Money and Property 5,800 8,900 3,100 Total Revenues 1,173,536 1,134,821 (38,715)

EXPENDITURES
Current:

Highways and Streets 1,886,342 - 1,886,342 Total Expenditures 1,886,342 - 1,886,342

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (712,806)$ 1,134,821 1,847,627 $ Fund Balance, Beginning of Year 1,526,850
FUND BALANCE, END OF YEAR 2,661,671$

Page 215 of 278 ends

CITY OF MONTEREY PARK

BUDGETARY COMPARISON SCHEDULE

SPECIAL REVENUE MEASURE M FUND
YEAR ENDED JUNE 30, 2021

(139)

Variance
Final Positive
Budget Actual (Negative)

REVENUES
Intergovernmental Revenues 918,820 $ 878,051 $ (40,769) $ Revenues from Use of Money and Property (6,000) 10,878 16,878 Total Revenues 912,820 888,929 (23,891)

EXPENDITURES
Current:

Highways and Streets 1,600,000 100,000 1,500,000 Total Expenditures 1,600,000 100,000 1,500,000

EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (687,180)$ 788,929 1,476,109 $ Fund Balance, Beginning of Year 2,367,588
FUND BALANCE, END OF YEAR 3,156,517$

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(140)

THIS PAGE INTENTIONALLY LEFT BLANK

Page 217 of 278 ends

CITY OF MONTEREY PARK

WATER UTILITY ENTERPRISE FUND
JUNE 30, 2021

(141)

Water Utility Enterprise Fund accounts for the City's water system operations. The Water Utility Enterprise Fund has the following two major activities:

Water Operation Activity - used to account for financial resources for the water operation including commercial, production, distribution, and implementation of Water Master Plan.

Water Treatment Activity - used to account for financial resources for the water treatment of certain chemical contaminations to meet water quality standards.

Page 218 of 278 ends

CITY OF MONTEREY PARK

WATER UTILITY ENTERPRISE FUND

COMBINING SCHEDULE OF NET POSITION
JUNE 30, 2021

(142)

Water Water
Operations Treatment
Activity Activity Total
ASSETS
Current Assets:

Cash and Investments 8,037,046$ 18,304,917$ 26,341,963$ Cash and Investments with Fiscal Agent 185 44 229 Accounts Receivable 3,085,169 1,917,152 5,002,321 Interest Receivable 6,320 17,506 23,826 Total Current Assets 11,128,720 20,239,619 31,368,339 Noncurrent Assets:

Nondepreciable Capital Assets 499,975 9,596,602 10,096,577 Depreciable Capital Assets,
Net of Accumulated Depreciation 22,628,240 4,762,156 27,390,396 Total Noncurrent Assets 23,128,215 14,358,758 37,486,973 Total Assets 34,256,935 34,598,377 68,855,312

DEFERRED OUFLOWS OF RESOURCES
Amounts Related to Pension Plans 3,477,119 829,953 4,307,072 Amounts Related to Other Post Employment Benefit Plans 250,423 86,271 336,694 Total Deferred Outflows of Resources 3,727,542 916,224 4,643,766

LIABILITIES
Current Liabilities:

Accounts Payable 2,236,495 542,424 2,778,919 Accrued Payroll 16,940 16,246 33,186 Deposits and Advances 453,681 41,510 495,191 Interest Payable 9,055 2,163 11,218
Capital Lease Obligations - Due Within One Year 605,214 - 605,214 Compensated Absences Payable - Due Within One Year 25,196 26,693 51,889 Bonds Payable - Due Within One Year 90,408 21,595 112,003 Total Current Liabilities 3,436,989 650,631 4,087,620 Noncurrent Liabilities:

Capital Lease Obligation 7,310,033 - 7,310,033 Compensated Absences Payable 226,764 240,240 467,004 Bonds Payable 2,981,370 712,149 3,693,519
Net OPEB Liability 2,081,242 716,993 2,798,235 Net Pension Liabilities 3,121,683 745,114 3,866,797 To
tal Noncurrent Liabilities 15,721,092 2,414,496 18,135,588 Total Liabilities 19,158,081 3,065,127 22,223,208

DEFERRED INFLOWS OF RESOURCES
Amounts Related to Other Post Employment Benefit Plans 339,401 116,924 456,325

NET POSITION
Net Investment in Capital Assets 15,201,712 14,317,248 29,518,960 Unrestricted 3,285,283 18,015,302 21,300,585 Total Net Position 18,486,995$ 32,332,550$ 50,819,545$ Adjustment to Reflect the Consolidation of Internal
Service Funds Activities to Related Enterprise Activity (5,778,933) - (5,778,933) Net Position Related to Water Utility Enterprise Activities 12,708,062$ 32,332,550$ 45,040,612$

Page 219 of 278 ends

CITY OF MONTEREY PARK

WATER UTILITY ENTERPRISE FUND

COMBINING SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION YEAR ENDED JUNE 30, 2021

(143)

Water Water
Operations Treatment
Activity Activity Total

OPERATING REVENUES
Charges for Services 10,316,823$ 5,631,564$ 15,948,387$ Meter Installations 139,336 - 139,336 Other Revenue 1,410 - 1,410
Total Operating Revenues 10,457,569 5,631,564 16,089,133

OPERATING EXPENSES
Administration 3,349,317 - 3,349,317 Commercial - Water 1,209,198 - 1,209,198 Production - Water 4,177,692 - 4,177,692 Distribution - Water 1,559,533 - 1,559,533 Treatment Plant Operations - 4,119,961 4,119,961 Depreciation 1,143,119 382,865 1,525,984
Total Operating Expenses 11,438,859 4,502,826 15,941,685 Operating Income (Loss) (981,290) 1,128,738 147,448

NONOPERATING REVENUES (EXPENSES)
Interest Income 18,680 - 18,680
Interest Expense (254,937) (2,163) (257,100) Costs of Debt Issuance (22,627) (5,405) (28,032) Total Nonoperating Revenues (Expenses) (258,884) (7,568) (266,452) Net Income (Loss) Before Capital Contributions
and Transfers (1,240,174) 1,121,170 (119,004) Capital Contributions 93,503 - 93,503 Transfers In - 45,893 45,893
Transfers Out (313,580) (84,340) (397,920) CHANGES IN NET POSITION (1,460,251) 1,082,723 (377,528) Net Position, Beginning of Year 19,947,246 31,249,827 51,197,073 NET POSITION, END OF YEAR 18,486,995$ 32,332,550$ 50,819,545$ Changes in Net Position (1,460,251)$ 1,082,723$ (377,528)$ Adjustment to Reflect Consolidation of
Internal Service Fund Activities to
Related Enterprise Activity (673,204) - (673,204) Changes in Net Position Related to
W
ater Utility Enterprise Activities (2,133,455)$ 1,082,723$ (1,050,732)$

Page 220 of 278 ends

CITY OF MONTEREY PARK

WATER UTILITY ENTERPRISE FUND

COMBINING SCHEDULE OF CASH FLOWS
YEAR ENDED JUNE 30, 2021

(144)

Water Water
Operations Treatment
Activity Activity Total

CASH FLOWS FROM OPERATING ACTIVITIES
Cash Receipts from Customers 10,245,618$ 5,393,122$ 15,638,740$ Cash Payments to Suppliers for Goods and Services (6,864,807) (2,182,290) (9,047,097) Cash Payments to Employees for Services (6,161,289) (2,172,747) (8,334,036) Net Cash Provided by Operating Activities (2,780,478) 1,038,085 (1,742,393)

CASH FLOWS FROM NONCAPITAL AND

RELATED FINANCING ACTIVITIES
Cash Received from Other Funds - 45,893 45,893 Cash Paid to Other Funds (313,580) (84,340) (397,920) Net Cash Provided (Used) by
Noncapital And Related Financing Activities (313,580) (38,447) (352,027)

CASH FLOWS FROM CAPITAL AND

RELATED FINANCING ACTIVITIES
Acquisition and Construction of Capital Assets (142,264) (1,002,072) (1,144,336) Capital Contributions 93,503 - 93,503 Proceeds from Bonds Payable 3,071,778 733,744 3,805,522 Payment of Bond Issuance Costs (22,627) (5,405) (28,032) Principal Paid on Lease Financing (551,053) - (551,053) Interest Paid on Debt (245,882) - (245,882) Net Cash Used by Capital and Related Financing Activities 2,203,455 (273,733) 1,929,722

CASH FLOWS FROM INVESTING ACTIVITIES
Interest Income 35,922 30,138 66,060 Net Cash Provided by Investing Activities 35,922 30,138 66,060

NET INCREASE (DECREASE) IN
CASH AND CASH EQUIVALENTS (854,681) 756,043 (98,638) Cash And Cash Equivalents, Beginning Of Year 8,891,912 17,548,918 26,440,830

CASH AND CASH EQUIVALENTS, END OF YEA
R 8,037,231$ 18,304,961 $ 26,342,192 $
Cash and Investments 8,037,046$ 18,304,917 $ 26,341,963 $ Cash and Investments with Fiscal Agent 185 44 229 Total Cash and Cash Equivalents 8,037,231 $ 18,304,961 $ 26,342,192 $

RECONCILIATION OF OPERATING INCOME (LOSS) TO

NET CASH PROVIDED BY OPERATING ACTIVITIES
Operating Income (Loss) (981,290) $ 1,128,738 $ 147,448 $ Adjustments to Reconcile Operating Income (Loss) to
Net Cash Provided by Operating Activities:

Depreciation 1,143,119 382,865 1,525,984 Changes in Assets, Deferred Outflows, Liabilities, and Deferred Inflows:
(Increase) Decrease in Accounts Receivable (211,951) (238,442) (450,393) (Increase) Decrease in Deferred Outflows of Resources - Pension Plans (3,022,753) (721,500) (3,744,253) (Increase) Decrease in Deferred Outflows of Resources - OPEB Plan (20,535) (7,074) (27,609) Increase (Decrease) in Accounts Payable 363,095 454,600 817,695 Increase (Decrease) in Accrued Payroll (3,969) 6,898 2,929 Increase (Decrease) in Deposits and Advances 6,242 41,510 47,752 Increase (Decrease) in Compensated Absences Payable (33,447) 5,917 (27,530) Increase (Decrease) in Net Pension Liabilities 143,110 28,496 171,606 Increase (Decrease) in Net OPEB Liabilities 1,089 6,038 7,127 Increase (Decrease) in Deferred Inflows of Resources - Pension Plans (59,146) (14,118) (73,264) Increase (Decrease) in Deferred Inflows of Resources - OPEB Plan (104,042) (35,843) (139,885) Total Adjustments (1,799,188) (90,653) (1,889,841) Net Cash Provided by Operating Activities (2,780,478) $ 1,038,085 $ (1,742,393) $

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CITY OF MONTEREY PARK

INTERNAL SERVICE FUNDS
JUNE 30, 2021

(145)

Internal Service Funds account for the financing o f goods or services provided by one department to other departments of the City, on a cost-reimbursement basis. Internal Service Funds include the following:

Separation Benefits Fund - used to account for employee separation costs (i.e., vacation, sick and holiday hours).

General Liability Fund - used to account for the City's general liab ility insurance, including claims, legal and other expenses.

Workers' Compensation Fund - used to account for the City's workers' compensation insurance costs, including claims, legal and other expenses.

Shop Fund - used to account for the purchase and maintenance of all motorized equipment used by City departments.

Technology Fund - used to account for the City's centralized data processing activities and future technological infrastructure improvements.

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CITY OF MONTEREY PARK

COMBINING SCHEDULE OF NET POSITION - INTERNAL SERVICE FUNDS JUNE 30, 2021

(146)

Separation General Workers'
Benefits Liability Compensation
ASSETS
Current Assets:

Cash and Investments 1,303,179 $ 2,000,491 $ 4,317,924 $ Cash and Investments Held by Fiscal Agents - - - Total Current Assets 1,303,179 2,000,491 4,317,924 Noncurrent Assets:

Nondepreciable Capital Assets - - - Depreciable Capital Assets,
Net of Accumulated Depreciation - - - Total Noncurrent Assets - - - Total Assets 1,303,179 2,000,491 4,317,924

LIABILITIES
Current Liabilities:

Accounts Payable - 2,965 13,193
Accrued Payroll 7,430 1,203 705
Insurance Assessment Payable -
Due within One Year - 163,514 -
Claims and Judgments Payable -
Due within One Year - 1,074,390 2,190,067 Capital Leases Payable - Due within One Year - - - Compensated Absences Payable -
Due within One Year - 1,805 1,805 Total Current Liabilities 7,430 1,243,877 2,205,770 Noncurrent Liabilities:

Insurance Assessment Payable -
Due in More than One Year - 817,572 - Claims and Judgments Payable -
Due in More than One Year - 6,167,667 10,516,529 Capital Leases Obligations -
Due in More than One Year - - - Compensated Absences Payable -
Due in More than One Year - 16,246 16,246 Total Noncurrent Liabilities - 7,001,485 10,532,775 Total Liabilities 7,430 8,245,362 12,738,545

NET POSITION
Net Investment in Capital Assets - - - Unrestricted 1,295,749 (6,244,871) (8,420,621) Total Net Position (Deficit) 1,295,749 $ (6,244,871) $ (8,420,621) $

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CITY OF MONTEREY PARK

COMBINING SCHEDULE OF NET POSITION - INTERNAL SERVICE FUNDS (CONTINUED) JUNE 30, 2021

(147)

Shop Technology Total
ASSETS
Current Assets:

Cash and Investments 1,083,107 $ 732,998 $ 9,437,699 $ Cash and Investments Held by Fiscal Agents 622 - 622 Total Current Assets 1,083,729 732,998 9,438,321 Noncurrent Assets:

Nondepreciable Capital Assets - 858,555 858,555 Depreciable Capital Assets,
Net of Accumulated Depreciation 2,346,073 181,027 2,527,100 Total Noncurrent Assets 2,346,073 1,039,582 3,385,655 Total Assets 3,429,802 1,772,580 12,823,976

LIABILITIES
Current Liabilities:

Accounts Payable 57,934 166,957 241,049
Accrued Payroll 4,264 1,291 14,893
Insurance Assessment Payable -
Due within One Year - - 163,514 Claims and Judgments Payable -
Due within One Year - - 3,264,457 Capital Leases Payable - Due within One Year 367,394 - 367,394 Compensated Absences Payable -
Due within One Year 7,475 726 11,811 Total Current Liabilities 437,067 168,974 4,063,118 Noncurrent Liabilities:

Insurance Assessment Payable -
Due in More than One Year - - 817,572 Claims and Judgments Payable -
Due in More than One Year - - 16,684,196 Capital Leases Obligations -
Due in More than One Year 1,381,402 - 1,381,402 Compensated Absences Payable -
Due in More than One Year 67,270 6,535 106,297
Total Noncurrent Liabilities 1,448,672 6,535 18,989,467 Total Liabilities 1,885,739 175,509 23,052,585

NET POSITION
Net Investment in Capital Assets 597,277 1,014,382 1,611,659 Unrestricted 946,786 582,689 (11,840,268) Total Net Position (Deficit) 1,544,063 $ 1,597,071 $ (10,228,609) $

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CITY OF MONTEREY PARK

COMBINING SCHEDULE OF REVENUES, EXPENSES, AND

CHANGES IN NET POSITION - INTERNAL SERVICE FUNDS
YEAR ENDED JUNE 30, 2021

(148)

Separation General Workers'
Benefits Liability Compensation

OPERATING REVENUES
Charges for Services 1,098,645$ 3,229,642$ 2,865,365$ Other Revenue - - 35,580 Total Operating Revenues 1,098,645 3,229,642 2,900,945

OPERATING EXPENSES
Salaries and Benefits 1,380,908 123,721 126,118
Materials and Supplies - - - Insurance and Claims - 4,497,793 2,528,293 Miscellaneous - - - Depreciation - - - Total Operating Expenses 1,380,908 4,621,514 2,654,411

Operating Income (Loss) (282,263) (1,391,872) 246,534

NONOPERATING INCOME
Interest expense - - - Total Nonoperating Revenue - - - Net Income (Loss) Before Capital Contributions
and Transfers (282,263) (1,391,872) 246,534 Transfers In - 1,000,000 -
Transfers Out - (4,200) (3,800) CHANGES IN NET POSITION (282,263) (396,072) 242,734 Net Position (Deficit), Beginning of Year 1,578,012 (5,848,799) (8,663,355) NET POSITION (DEFICIT), END OF YEAR 1,295,749$ (6,244,871)$ (8,420,621)$

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CITY OF MONTEREY PARK

COMBINING SCHEDULE OF REVENUES, EXPENSES, AND

CHANGES IN NET POSITION - INTERNAL SERVICE FUNDS (CONTINUED) YEAR ENDED JUNE 30, 2021

(149)

Shop Technology Total

OPERATING REVENUES
Charges for Services 2,183,900$ 438,604$ 9,816,156$ Other Revenue - - 35,580 Total Operating Revenues 2,183,900 438,604 9,851,736

OPERATING EXPENSES
Salaries and Benefits 564,107 137,540 2,332,394
Materials and Supplies 1,335,255 - 1,335,255 Insurance and Claims - - 7,026,086 Miscellaneous 37,152 404,202 441,354
Depreciation 821,857 75,841 897,698
Total Operating Expenses 2,758,371 617,583 12,032,787

Operating Income (Loss) (574,471) (178,979) (2,181,051)

NONOPERATING INCOME
Interest expense (64,305) - (64,305) Total Nonoperating Revenue (64,305) - (64,305) Net Income (Loss) Before Capital Contributions
and Transfers (638,776) (178,979) (2,245,356) Transfers In - - 1,000,000 Transfers Out (14,100) (3,100) (25,200) CHANGES IN NET POSITION (652,876) (182,079) (1,270,556) Net Position (Deficit), Beginning of Year 2,196,939 1,779,150 (8,958,053) NET POSITION (DEFICIT), END OF YEAR 1,544,063$ 1,597,071$ (10,228,609)$

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CITY OF MONTEREY PARK

COMBINING SCHEDULE OF CASH FLOWS - INTERNAL SERVICE FUNDS YEAR ENDED JUNE 30, 2021

(150)

Separation General Workers'
Benefits Liability Compensation

CASH FLOWS FROM OPERATING ACTIVITIES
Cash Receipts from Interfund Services Provided 1,098,645$ 3,229,642$ 2,865,365$ Cash Receipts from Reimbursements and
Other Operating Revenues - - 35,580 Cash Payments to Suppliers for Goods and Services - - - Cash Payments to Employees for Services (1,389,298) (133,600) (129,589) Cash Payments for Insurance Premiums and
Self-Insurance Claims - (3,447,401) (2,205,859) Net Cash Provided (Used) by Operating Activities (290,653) (351,359) 565,497

CASH FLOWS FROM NONCAPITAL AND

RELATED FINANCING ACTIVITIES
Cash Received from Other Funds - 1,000,000 - Cash Paid to Other Funds - (4,200) (3,800) Net Cash Provided (Used) by
Noncapital and Related Financing Activities - 995,800 (3,800)

CASH FLOWS FROM CAPITAL AND

RELATED FINANCING ACTIVITIES
Acquisition and Construction of Capital Assets - - - Principal Paid on Lease Financing - - - Interest Paid on Lease Financing - - - Net Cash Provided (Used) by
Capital and Related Financing Activities - - - NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (290,653) 644,441 561,697 Cash And Cash Equivalents, Beginning Of Year 1,593,832 1,356,050 3,756,227 CASH AND CASH EQUIVALENTS, END OF YEAR 1,303,179$ 2,000,491$ 4,317,924$

RECONCILIATION OF OPERATING INCOME (LOSS) TO

NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES
Operating Income (Loss) (282,263)$ (1,391,872)$ 246,534$ Adjustments to Reconcile Operating Income (Loss) to
Net Cash Provided (Used) by Operating Activities:

Depreciation - - - Changes in Assets and Liabilities:

Increase (Decrease) in Accounts Payable - (26,860) (12,637) Increase (Decrease) in Accrued Payroll (8,390) (248) (538) Increase (Decrease) in Insurance Assessment Payable - (163,514) - Increase (Decrease) in Claims and Judgments Payable - 1,240,766 335,071 I
ncrease (Decrease) in Compensated Absences Payable - (9,631) (2,933) Total Adjustments (8,390) 1,040,513 318,963 Net Cash Provided (Used) by Operating Activities (290,653)$ (351,359) $ 565,497$

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CITY OF MONTEREY PARK

COMBINING SCHEDULE OF CASH FLOWS - INTERNAL SERVICE FUNDS (CONTINUED) YEAR ENDED JUNE 30, 2021

(151)

Shop Technology Totals

CASH FLOWS FROM OPERATING ACTIVITIES
Cash Receipts from Interfund Services Provided 2,183,900$ 438,604$ 9,816,156$ Cash Receipts from Reimbursements and
Other Operating Revenues - - 35,580 Cash Payments to Suppliers for Goods and Services (1,425,781) (259,055) (1,684,836) Cash Payments to Employees for Services (542,170) (136,210) (2,330,867) Cash Payments for Insurance Premiums and
Self-Insurance Claims - - (5,653,260) Net Cash Provided (Used) by Operating Activities 215,949 43,339 182,773

CASH FLOWS FROM NONCAPITAL AND

RELATED FINANCING ACTIVITIES
Cash Received from Other Funds - - 1,000,000 Cash Paid to Other Funds (14,100) (3,100) (25,200) Net Cash Provided (Used) by
Noncapital and Related Financing Activities (14,100) (3,100) 974,800

CASH FLOWS FROM CAPITAL AND

RELATED FINANCING ACTIVITIES
Acquisition and Construction of Capital Assets (127,888) (408,229) (536,117) Principal Paid on Lease Financing (355,952) - (355,952) Interest Paid on Lease Financing (64,305) - (64,305) Net Cash Provided (Used) by
Capital and Related Financing Activities (548,145) (408,229) (956,374) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (346,296) (367,990) 201,199 Cash And Cash Equivalents, Beginning Of Year 1,430,025 1,100,988 9,237,122 CASH AND CASH EQUIVALENTS, END OF YEAR 1,083,729$ 732,998$ 9,438,321$

RECONCILIATION OF OPERATING INCOME (LOSS) TO

NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES
Operating Income (Loss) (574,471)$ (178,979)$ (2,181,051)$ Adjustments to Reconcile Operating Income (Loss) to
Net Cash Provided (Used) by Operating Activities:

Depreciation 821,857 75,841 897,698 Changes in Assets and Liabilities:

Increase (Decrease) in Accounts Payable (53,374) 145,147 52,276 Increase (Decrease) in Accrued Payroll 669 17 (8,490) Increase (Decrease) in Insurance Assessment Payable - - (163,514) Increase (Decrease) in Claims and Judgments Payable - - 1,575,837 Increase (Decrease) in Compensated Absences Payable 21,268 1,313 10,017
Total Adjustments 790,420 222,318 2,363,824 Net Cash Provided (Used) by Operating Activities 215,949$ 43,339$ 182,773$

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(152)

THIS PAGE INTENTIONALLY LEFT BLANK

Page 229 of 278 ends

STATISTICAL SECTION
(UNAUDITED)

(153)

This part of the City of Monterey Park's Comprehensive Annual Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City's overall financial health.

Index Page

Financial Trends Information - These schedules contain trend information to help the reader to understand how the City's financial performance and well-being have changed over time.

1. Net Position by Components 154

2. Changes in Net Position 156

3. Fund Balances of Governmental Funds 160

4. Changes in Fund Balances of Governmental Funds 162

Revenue Capacity Information - These schedules contain trend in formation to help the reader understand the City's property tax.

5. Assessed Value of Taxable Property 164

6. Direct and Overlapping Property Tax Rates 165

7. Principal Property Taxpayers 167

8. Property Tax Levies and Collections 169

Debt Capacity Information - These schedules present information to help the reader assess the affordability of the City's current levels of ou tstanding debt and the City's ability to issue additional debt in the future.

9. Ratios of Outstanding Debt by Type 171

10. Ratios of General Bonded Debt Outstanding 173

11. Direct and Overlapping Debt 174

12. Legal Debt Margin 176

Demographic and Economic Information - These schedules offer demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place.

13. Demographic and Economic Statistics 178

14. Principal Employers 179

Operating Information - These schedules contain service and infrastructure data to help the reader understanding how the information in the City's financial report relates to the services the City provides and the activities it performs.

15. City Employees by Function 181

16. Operating Indicators by Function 182

17. Capital Assets Statistics by Function 184

18. Water Sold by Type of Customer 186

19. Water Rates 188

20. Top Ten Water Customers 189

Page 230 of 278 ends

CITY OF MONTEREY PARK

NET POSITION BY COMPONENTS

LAST TEN FISCAL YEARS
(ACCRUAL BASIS OF ACCOUNTING)

Source: City of Monterey Park Management Services Department (154)

2011/12 2012/13 2013/14 2014/15 2015/16
Governmental Activities:

Net investment in capital assets 47,380,971 $ 50,018,559 $ 50,805,697 $ 46,057,423 $ 47,995,442 $ Restricted 26,824,487 20,629,264 18,330,529 20,198,282 22,221,698 Unrestricted 6,298,370 9,341,223 11,318,896 (79,297,776) (68,990,541) Total governmental activities net position 80,503,828$ 79,989,046 $ 80,455,122 $ (13,042,071) $ 1,226,599 $ Business-Type Activities:

Net investment in capital assets 20,439,644$ 20,381,489$ 20,020,776$ 15,083,212$ 23,132,584$ Restricted - - - - 514,518 Unrestricted 19,943,174 25,700,563 26,197,066 24,186,095 18,629,778 Total business-type activities net position 40,382,818$ 46,082,052 $ 46,217,842 $ 39,269,307 $ 42,276,880 $ Primary Government:

Net investment in capital assets 67,820,615$ 70,400,048$ 70,826,473$ 61,140,635$ 71,128,006$ Restricted 26,824,487 20,629,264 18,330,529 20,198,282 22,736,216 Unrestricted 26,241,544 35,041,786 37,515,962 (55,111,681) (50,360,763) Total primary government net position 120,886,646$ 126,071,098 $ 126,672,964 $ 26,227,236 $ 43,503,459 $ Fiscal Year

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CITY OF MONTEREY PARK

NET POSITION BY COMPONENTS (CONTINUED)

LAST TEN FISCAL YEARS
(ACCRUAL BASIS OF ACCOUNTING)

Source: City of Monterey Park Management Services Department (155)

2016/17 2017/18 2018/19 2019/20 2020/21
Governmental Activities:

Net investment in capital assets 49,245,097 $ 51,940,625 $ 54,422,220 $ 50,393,059 $ 53,107,029 $ Restricted 20,689,401 22,583,024 28,308,812 28,524,906 22,377,681 Unrestricted (63,742,375) (85,102,541) (94,444,814) (99,160,818) (97,899,017) Total governmental activities net position 6,192,123$ (10,578,892)$ (11,713,782) $ (20,242,853) $ (22,414,307) $ Business-Type Activities:

Net investment in capital assets 27,583,180 $ 32,224,486 $ 32,343,708 $ 31,922,658 $ 32,466,443 $ Restricted - - - - Unrestricted 19,078,479 18,182,441 22,623,485 23,894,813 22,403,284 Total business-type activities net position 46,661,659$ 50,406,927 $ 54,967,193 $ 55,817,471 $ 54,869,727 $ Primary Government:

Net investment in capital assets 76,828,277 $ 84,165,111 $ 86,765,928 $ 82,315,717 $ 85,573,472 $ Restricted 20,689,401 22,583,024 28,308,812 28,524,906 22,377,681 Unrestricted (44,663,896) (66,920,100) (71,821,329) (75,266,005) (75,495,733) Total primary government net position 52,853,782$ 39,828,035 $ 43,253,411 $ 35,574,618 $ 32,455,420 $ Fiscal Year

Page 232 of 278 ends

CITY OF MONTEREY PARK

CHANGES IN NET POSITION BY COMPONENTS

LAST TEN FISCAL YEARS
(ACCRUAL BASIS OF ACCOUNTING)

Source: City of Monterey Park Management Services Department (156)

2011/2012 2012/2013 2013/2014 2014/2015 2015/2016
Expenses:

Governmental activities:

General government 4,405,489 $ 6,522,107 $ 4,050,482 $ 4,610,081 $ 3,771,179 $ Public safety 27,764,258 26,233,074 27,352,152 26,907,556 27,479,974 Community development 5,673,116 8,521,044 2,343,881 7,049,958 2,456,567 Culture and recreation 6,378,055 5,909,468 6,277,461 8,665,230 7,151,089 Highway and streets 4,886,331 5,380,336 6,434,924 5,512,170 6,223,450 Health 120,000 119,999 120,000 488,697 116,629 Interest and fiscal charges 2,128,198 1,275,063 1,207,716 1,269,034 990,315 Total governmental activities expenses 51,355,447 53,961,091 47,786,616 54,502,726 48,189,203 Business-type activities:

Water 11,542,663 10,706,980 11,775,078 12,906,852 11,962,698 Refuse 5,944,116 6,040,457 6,985,344 6,657,089 7,562,168 Sewer 331,683 238,551 221,078 522,245 1,117,677 Total business-type activities expenses 17,818,462 16,985,988 18,981,500 20,086,186 20,642,543 Total primary government expenses 69,173,909 70,947,079 66,768,116 74,588,912 68,831,746 Program revenues:

Governmental activities:

Charges for services:

General government 627,769 909,328 907,537 1,005,102 1,157,100 Public safety 2,926,775 3,037,155 3,076,644 2,956,084 3,766,713 Community development 1,608,072 1,541,110 1,442,835 2,023,271 2,607,075 Culture and recreation 692,083 738,884 690,289 1,320,369 1,289,483 Highway and Streets 369,180 451,744 400,382 1,462,323 1,403,282 Health
Operating grants and contributions 4,667,552 5,258,202 1,516,481 7,963,721 7,953,884 Capital grants and contributions 3,725,194 1,988,468 627,628 557,625 502,276 Total government activities
program revenues 14,616,625 13,924,891 8,661,796 17,288,495 18,779,813 Business-type activities:

Charges for services:

Water 12,853,684 13,302,811 10,747,045 11,452,592 12,323,342 Refuse 6,001,641 5,832,841 6,028,436 6,371,405 6,954,603 Sewer 273,496 273,556 287,548 1,714,098 2,673,585 Operating grants and contributions
Capital grants and contributions 91,894 41,834 169,783 98,776 97,507 Total business-type activities revenues 19,220,715 19,451,042 17,232,812 19,636,871 22,049,037 Total primary government revenues 33,837,340$ 33,375,933 $ 25,894,608 $ 36,925,366 $ 40,828,850 $ Fiscal Year

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CITY OF MONTEREY PARK

CHANGES IN NET POSITION BY COMPONENTS (CONTINUED)

LAST TEN FISCAL YEARS
(ACCRUAL BASIS OF ACCOUNTING)

Source: City of Monterey Park Management Services Department (157)

2016/2017 2017/2018 2018/2019 2019/2020 2020/2021
Expenses:

Governmental activities:

General government 4,935,827 $ 13,276,893 $ 8,675,180 $ 7,024,897 $ 16,862,932 $ Public safety 30,527,993 35,442,619 41,058,210 46,448,518 41,432,208 Community development 2,368,605 2,536,781 2,555,488 385,629 500,831 Culture and recreation 7,383,391 8,037,936 8,394,326 8,194,387 7,367,933 Highway and streets 5,555,218 5,856,197 6,778,639 7,592,489 6,349,422 Health 250,000 160,000 150,000 137,500 187,500 Interest and fiscal charges 993,823 940,605 931,970 923,137 1,533,531

Total governmental activities expenses 52,014,857 66,251,032 68,543,813 70,706,557 74,234,357 Business-type activities:

Water 13,197,497 11,978,551 15,975,908 16,130,638 16,900,021 Refuse 7,648,908 6,364,504 6,782,261 6,643,796 7,102,416 Sewer 1,332,184 2,120,013 1,925,498 2,066,260 2,826,252 Total business-type activities expenses 22,178,589 20,463,068 24,683,667 24,840,693 26,828,689 Total primary government expenses 74,193,446 86,714,100 93,227,480 95,547,250 101,063,046 Program revenues:

Governmental activities:

Charges for services:

General government 1,216,968 1,290,795 1,951,847 1,418,515 1,430,819 Public safety 2,665,634 4,239,502 3,263,720 3,123,842 2,765,703 Community development 3,660,518 3,364,687 2,828,385 1,591,515 1,894,660 Culture and recreation 1,327,230 1,956,845 1,012,436 747,940 230,570 Highway and Streets 1,688,010 1,382,500 1,341,088 1,523,872 2,410,818 Health
Operating grants and contributions 6,928,332 8,281,863 12,119,613 9,349,191 12,199,854 Capital grants and contributions 1,134,757 159,994 1,209,222 279,624 - Total government activities
program revenues 18,621,449 20,676,186 23,726,311 18,034,499 20,932,424 Business-type activities:

Charges for services:

Water 13,439,676 14,213,398 15,251,324 13,791,440 16,087,723 Refuse 7,124,768 6,760,312 6,674,188 6,722,940 6,905,547 Sewer 2,843,412 3,164,108 3,546,475 3,158,607 3,273,154 Operating grants and contributions
Capital grants and contributions 1,916,453 2,341,781 1,362,136 149,262 93,503 Total business-type activities revenues 25,324,309 26,479,599 26,834,123 23,822,249 26,359,927 Total primary government revenues 43,945,758$ 47,155,785 $ 50,560,434 $ 41,856,748 $ 47,292,351 $ Fiscal Year

Page 234 of 278 ends

CITY OF MONTEREY PARK

CHANGES IN NET POSITION BY COMPONENTS (CONTINUED)

LAST TEN FISCAL YEARS
(ACCRUAL BASIS OF ACCOUNTING)

Source: City of Monterey Park Management Services Department (158)

2011/2012 2012/2013 2013/2014 2014/2015 2015/2016
Fiscal Year

Net (expense)/revenue:

Governmental activities: (36,738,822) $ (40,036,200) $ (39,124,820) $ (37,214,231) $ (29,409,390) $ Business-type activities: 1,402,253 2,465,054 (1,748,688) (449,315) 1,406,494 Total primary government revenues (35,336,569)$ (37,571,146) $ (40,873,508) $ (37,663,546) $ (28,002,896) $ General revenues and other
Changes in net position:

Governmental activities:

Taxes:

Property taxes 24,537,300 $ 24,066,354 $ 19,794,165 $ 22,600,233 $ 22,235,616 $ Sales tax 5,057,132 5,437,244 4,942,821 5,245,208 6,427,211 Vehicle in-lieu tax 32,170 33,334 27,588 26,649 25,041 Utility users tax 3,092,796 3,041,163 3,202,264 3,257,450 3,212,890 Utility franchise tax 942,985 942,736 970,212 1,028,025 992,615 Business license tax 945,367 941,005 974,816 1,340,197 1,052,086 Transient occupancy tax 876,482 957,024 1,049,070 1,158,767 1,248,578 Other taxes 1,868,862 2,760,446 7,282,605 346,203 285,845 Revenues from use of
money and property 776,649 827,781 872,174 929,648 1,155,649 Other 685,026 499,923 731,679 1,153,382 1,403,883 Gain/(Loss) on sale of property 1,842,182 14,408 Transfers 350,000
18,000
Total general revenues and transfers 41,006,951 39,521,418 39,865,394 37,085,762 38,039,414 Extraordinary item 26,752,439 5,638,626
Business-type activities:

Revenues from use of
money and property
Other 2,205,569 3,230,138 1,897,638 2,192 1,601,079 Gain/(Loss) on sale of property 4,042 4,840 1,258,626 Transfers (350,000)
(18,000) 18,485
Total business-type activities 1,855,569 3,234,180 1,884,478 1,279,303 1,601,079 Total primary government 42,862,520 42,755,598 41,749,872 38,365,065 39,640,493 Changes in net position
Governmental activities 31,020,568 (514,782) 740,574 (128,469) 14,268,650 Business-type activities 3,257,822 5,699,234 135,790 829,988 3,007,573 Total primary government 34,278,390 $ 5,184,452 $ 876,364 $ 701,519 $ 17,276,223$

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CITY OF MONTEREY PARK

CHANGES IN NET POSITION BY COMPONENTS (CONTINUED)

LAST TEN FISCAL YEARS
(ACCRUAL BASIS OF ACCOUNTING)

Source: City of Monterey Park Management Services Department (159)

2016/2017 2017/2018 2018/2019 2019/2020 2020/2021
Fiscal Year

Net (expense)/revenue:

Governmental activities: (33,393,408)$ (45,574,846)$ (44,817,502)$ (52,672,058)$ (53,301,933)$ Business-type activities: 3,145,720 6,016,531 2,150,457 (1,018,444) (468,762) Total primary government revenues (30,247,688)$ (39,558,315)$ (42,667,046)$ (53,690,502)$ (53,770,695)$ General revenues and other
Changes in net position:

Governmental activities:

Taxes:

Property taxes 23,154,960$ 24,306,944$ 25,904,561$ 27,133,836$ 29,942,243$ Sales tax 6,517,491 5,341,854 7,156,102 6,923,739 9,063,297 Vehicle in-lieu tax 27,482 32,428 29,876 48,934 44,545 Utility users tax 3,212,912 2,964,825 3,107,983 2,846,105 2,931,943 Utility franchise tax 938,802 966,346 973,084 982,837 1,011,131 Business license tax 1,244,295 1,146,838 1,140,840 985,158 721,601 Transient occupancy tax 1,261,777 1,163,775 1,064,049 847,272 953,200 Other taxes 269,734 585,106 158,828 171,413 220,485 Revenues from use of
money and property 701,151 1,689,011 2,413,637 2,096,340 395,918 Other 1,030,348 1,736,642 1,733,652 1,565,830 1,339,319 Gain/(Loss) on sale of property
Transfers
541,523 533,787
Total general revenues and transfers 38,358,952 39,933,769 43,682,612 44,142,987 47,157,469 Extraordinary item
Business-type activities:

Revenues from use of
money and property 105 562,859 53,395 Other 1,238,954 1,053,244 2,409,810 2,260,426 1,410 Gain/(Loss) on sale of property
Transfers (541,523) (533,787)
Total business-type activities 1,239,059 1,053,244 2,409,810 2,281,762 (478,982) Total primary government 39,598,011 40,987,013 46,092,422 46,424,749 46,678,487 Changes in net position
Governmental activities 4,965,544 (5,641,077) (1,134,890) (8,529,071) (6,144,464) Business-type activities 4,384,779 7,069,775 4,560,267 1,263,318 (947,744) Total primary government 9,350,323 $ 1,428,698 $ 3,425,377 $ (7,265,753) $ (7,092,208) $

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CITY OF MONTEREY PARK

FUND BALANCES OF GOVERNMENTAL FUNDS

LAST TEN FISCAL YEARS
(MODIFIED ACCRUAL BASIS OF ACCOUNTING)

Source: City of Monterey Park Management Services Department (160)

2011/12 2012/13 2013/14 2014/15 2015/16
General Fund:

Nonspendable 703,230 $ - $ - $ 741,556$ 741,556 $ Restricted - - - - 78,799 Committed 7,173,519 7,173,519 7,173,519 7,173,519 10,979,027 Assigned 5,145,940 9,653,901 9,321,463 10,095,120 12,052,503 Unassigned 2,505,441 3,554,425 3,554,425 3,556,499 4,554,426 Total general fund 15,528,130 $ 20,381,845 $ 20,049,407 $ 21,566,694 $ 28,406,311 $ All other governmental funds:

Nonspendable - 1,989,686$ 1,989,686$ 1,921,015$ - $ Restricted 26,824,487$ 18,684,533 17,449,555 19,872,630 21,597,574 Committed 1,496,211 699,188 584,570 Assigned - - - - - Unassigned (153,120) - - (931,973) (168,139) Total all other governmental funds 26,671,367$ 20,674,219 $ 20,935,452 $ 21,560,860 $ 22,014,005 $ Total for Governmental Funds: 42,199,497$ 41,056,064 $ 40,984,859 $ 43,127,554 $ 50,420,316 $ Fiscal Year

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CITY OF MONTEREY PARK

FUND BALANCES OF GOVERNMENTAL FUNDS (CONTINUED)

LAST TEN FISCAL YEARS
(MODIFIED ACCRUAL BASIS OF ACCOUNTING)

Source: City of Monterey Park Management Services Department (161)

2016/17 2017/18 2018/19 2019/20 2020/21
General Fund:

Nonspendable 816,495 $ 74,939 $ 75,778 $ 78,802 $ 72,590 $ Restricted - - - - Committed 10,826,927 10,826,927 7,226,927 7,226,927 9,226,927 Assigned 14,414,724 15,064,826 20,147,039 19,365,589 21,418,237 Unassigned 4,144,661 3,994,828 5,105,667 5,838,129 4,419,338 Total general fund 30,202,807 $ 29,961,520 $ 32,555,411 $ 32,509,447 $ 35,137,092 $ All other governmental funds:

Nonspendable - $ - $ - $ - $ - $ Restricted 21,426,308 22,145,598 26,088,353 26,887,421 20,468,071 Committed 472,919 437,426 417,741 418,383 367,752 Assigned - - - - Unassigned (1,369,489) - - (72,645) (58,728) Total all other governmental funds 20,529,738 $ 22,583,024 $ 26,506,094 $ 27,233,159 $ 20,777,095 $ Total for Governmental Funds: 50,732,545$ 52,544,544$ 59,061,505$ 59,742,606$ 55,914,187$ Fiscal Year

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CITY OF MONTEREY PARK

CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS

LAST TEN FISCAL YEARS
(MODIFIED ACCRUAL BASIS OF ACCOUNTING)

Source: City of Monterey Park Management Services Department (162)

2011/12 2012/13 2013/14 2014/15 2015/16
Revenues:

Taxes 37,442,373$ 41,087,434$ 38,059,146$ 41,748,001$ 41,158,303$ Licenses and permits 1,856,887 967,662 848,949 775,135 2,428,895 Intergovernmental revenues 6,006,714 4,693,489 2,035,035 3,072,957 3,203,752 Charges for services 4,360,368 4,981,641 4,922,983 5,521,035 6,110,829 Revenues from use of
money & property 744,346 822,143 943,369 919,998 1,207,629 Fines and forfeitures 952,992 822,779 931,718 1,043,704 1,295,647 Other 720,230 1,374,275 767,790 1,180,868 1,414,172 Total revenues 52,083,910 54,749,423 48,508,990 54,261,698 56,819,227 Expenditures
Current:

General government 3,621,179 4,454,906 3,859,127 4,609,650 5,744,019 Public safety 25,681,372 25,080,613 25,647,992 27,076,488 28,396,653 Community development 5,633,982 7,808,273 2,345,099 3,015,194 2,261,895 Culture and recreation 5,577,207 5,677,937 5,587,721 6,738,804 6,464,589 Highways and streets 4,207,740 4,362,120 5,672,512 4,938,939 5,103,275 Health 120,000 119,999 120,000 488,697 Capital outlay 8,114,199 5,928,361 2,957,442 4,855,050 4,594,721 Debt service:

Principal 2,020,927 1,204,215 1,229,166 1,255,802 1,291,263 Interest and fiscal charges 1,990,861 1,270,840 1,217,331 1,279,276 1,058,676 Total expenditures 56,967,467 55,907,264 48,636,390 54,257,900 54,915,091 Excess (deficiency) of revenues
over (under) expenditures (4,883,557) (1,157,841) (127,400) 3,798 1,904,136 Other financing sources (uses):

Transfers in 776,146 9,466 943,350 1,380,000 2,327,332 Transfers out (426,146) (9,466) (903,905) (1,380,000) (2,577,332) Capital Lease
(Loss) on sale of property - - - - - Proceeds from sale of property 1,842,182 14,408 16,750 562,114 - Proceeds from tax increment deferred - - - - - Proceeds from section 108 loan - - - - - Issue of long term debt - - - 1,576,783 - Total other financing
Sources (uses) 2,192,182 14,408 56,195 2,138,897 (250,000) Net change in fund balances
before Extraordinary Item (2,691,375)$ (1,143,433) $ (71,205) $ 2,142,695$ 1,654,136 $ Extraordinary Items (33,981,516) - - - 5,638,626 Net change in fund balances (36,672,891) $ (1,143,433)$ (71,205)$ 2,142,695$ 7,292,762$ Debt services as a percentage of
noncapital expenditures (2) 8.21% 4.95% 5.36% 5.13% 4.67% Notes:
(1) Starting 2010-11, Refuse and Sewer funds were classified as Enterprise Fund. (2) The ratio of total debt service to noncapital expenditures is calculated as total debt service expenditures (principal and interest) / total noncapital expenditures (the difference between total expenditures and capitalized capital outlay expenditures).

Fiscal Year

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CITY OF MONTEREY PARK

CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS (CONTINUED)

LAST TEN FISCAL YEARS
(MODIFIED ACCRUAL BASIS OF ACCOUNTING)

Source: City of Monterey Park Management Services Department (163)

2016/17 2017/18 2018/19 2019/20 2020/21
Revenues:

Taxes 37,078,002 $ 36,662,530 $ 39,864,511 $ 40,160,022 $ 45,232,837 $ Licenses and permits 2,913,671 2,729,412 3,038,847 1,837,426 1,849,831 Intergovernmental revenues 6,664,547 8,945,319 11,577,229 9,385,537 11,430,832 Charges for services 6,721,667 8,417,372 7,161,652 6,057,607 6,458,077 Revenues from use of
money & property 694,820 1,727,784 2,701,145 2,329,927 518,793 Fines and forfeitures 605,957 680,133 1,623,039 587,059 446,741 Other 1,074,799 1,756,785 1,741,046 1,566,488 1,622,030 Total revenues 55,753,463 60,919,335 67,707,469 61,924,066 67,559,141 Expenditures
Current:

General government 5,844,104 7,146,292 6,136,588 6,898,124 115,631,413 Public safety 29,258,673 30,235,225 34,708,110 35,762,037 37,642,012 Community development 2,392,374 2,497,952 2,563,517 316,097 430,627 Culture and recreation 6,634,294 6,981,663 7,383,682 7,034,788 6,618,326 Highways and streets 4,780,221 4,812,085 5,347,037 6,627,295 5,621,649 Health 250,000 160,000 150,000 137,500 187,500 Capital outlay 3,415,464 4,413,196 2,927,407 3,111,577 9,655,402 Debt service:

Debt Issuance Costs 743,285
Principal 1,370,156 1,416,257 1,079,149 1,115,754 1,154,028 Interest and fiscal charges 995,948 944,666 895,018 853,417 809,641 Total expenditures 54,941,234 58,607,336 61,190,508 61,856,589 178,493,883 Excess (deficiency) of revenues
over (under) expenditures 812,229 2,311,999 6,516,961 67,477 (110,934,742) Other financing sources (uses):

Transfers in 2,246,686 2,225,885 3,003,264 4,319,658 4,488,195 Transfers out (2,746,686) (2,725,885) (3,003,264) (3,706,035) (4,929,208) Capital Lease 2,682,300
(Loss) on sale of property - - - - Proceeds from sale of property - - - - Proceeds from tax increment deferred - - - - Proceeds from section 108 loan - - - - Issue of long term debt - - - - 100,892,026 Total other financing
Sources (uses) (500,000) (500,000) - 613,623 103,133,313 Net change in fund balances
before Extraordinary Item 312,229$ 1,811,999 $ 6,516,961 $ 681,100 $ (7,801,429)$ Extraordinary Items - - - - - Net change in fund balances 312,229 $ 1,811,999$ 6,516,961$ 681,100$ (7,801,429)$ Debt services as a percentage of
noncapital expenditures (2) 4.59% 4.36% 3.39% 3.35% 1.60% Notes:
(1) Starting 2010-11, Refuse and Sewer funds were classified as Enterprise Fund. (2) The ratio of total debt service to noncapital expenditures is calculated as total debt service expenditures (principal and interest) / total noncapital expenditure (the difference between total expenditures and capitalized capital outlay expenditures).

Fiscal Year

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CITY OF MONTEREY PARK
ASSESSED VALUE OF TAXABLE PROPERTY (1)

LAST TEN FISCAL YEARS
(IN THOUSANDS)

Source: 1. County of Los Angeles Department of Auditor-Controller

2. HDL Coren & Cone
(164)

Total Taxable Total
Residential Commercial Industrial Other Tax-Exempt Assessed Direct Tax Fiscal Year Property Property Property Property Property(2) Value Rate(3) (4)
2011/12 4,176,308,316 914,084,645 141,375,663 330,098,283 34,278,620 5,561,866,907 0.39069 2012/13 4,392,899,226 1,016,937,428 146,514,412 265,303,532 33,633,996 5,821,654,598 0.40086 2013/14 4,589,336,142 1,037,976,948 156,760,121 268,842,451 33,633,996 6,052,915,662 0.24388 2014/15 4,819,968,671 1,058,583,010 160,416,355 276,605,994 29,479,877 6,315,574,030 0.24412 2015/16 5,057,044,107 1,093,431,570 164,909,195 276,512,462 29,538,778 6,591,897,334 0.24437 2016/17 5,307,806,812 1,140,647,311 173,217,543 312,397,210 28,011,283 6,934,068,876 0.24460 2017/18 5,602,078,820 1,173,225,228 186,112,221 308,114,143 27,269,372 7,269,530,412 0.24384 2018/19 5,900,997,427 1,246,669,672 202,037,631 301,345,786 27,122,190 7,651,050,516 0.24490 2019/20 6,154,110,366 1,385,210,969 214,058,031 335,807,643 27,122,190 8,089,187,009 0.24507 2020/21 6,452,593,484 1,442,805,214 225,355,790 362,258,108 27,122,190 8,483,012,596 0.24526 Notes:
(1)
(2)
(3)
(4)
Total direct rate is the weighted average of all individual direct rates applied by the government preparing the statistical section information.

Retirement tax at 0.091170 per $100 of Assessed Valuation.

In 1978 the voters of the State of California passed Proposition 13 which limited property taxes to a total maximum rate of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased by an "inflation factor" (limited to a maximum increase of 2%). With few exceptions, property is only re-assessed as a result of new construction activity or at the time that it is sold to a new owner. At that point, the property is reassessed based on the added value of the construction or at the purchase price (market value) or economic value of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.

Exempt values are not included in total.

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CITY OF MONTEREY PARK

DIRECT AND OVERLAPPING PROPERTY TAX RATES

LAST TEN FISCAL YEARS
(RATE PER $100 OIF TAXABLE VALUE)

Source: County of Los Angeles Tax Assessor and HDL Coren & Cone (165)

2011/12 2012/13 2013/14 2014/15 2015/16

1.00000 1.00000 1.00000 1.00000 1.00000
City Direct Rates:

Monterey Park - Pension Obligation Bonds 0.09117 0.09117 0.09117 0.09117 0.09117 Total Direct Rates 1.09117 1.09117 1.09117 1.09117 1.09117 Overlapping Rates:

Alhambra Unified School District 0.06923 0.06228 0.04906 0.04985 0.04926 Garvey School District 0.05686 0.06037 0.05978 0.05947 0.05874 Garvey-Alhambra 0.03205 0.03327 0.04914 0.04522 0.04538 Los Angeles Community College District 0.03530 0.04875 0.04454 0.04017 0.03575 Los Angeles Unified School District 0.16819 0.17561 0.14644 0.14688 0.12971 Metropolitan Water District 0.01800 0.01800 0.01800 0.01800 0.01800 Montebello Unified School District 0.10001 0.09630 0.09457 0.08750 0.08715 Monterey Park GO Debt 0.09117 0.09117 0.09117 0.09117 0.09117 Total Overlapping Rates 0.57081 0.58575 0.55270 0.53826 0.51516 Total Direct & Overlapping (2) Tax Rates 1.66198 1.67692 1.64387 1.62943 1.60633 City's Share of 1% Levy Per Prop 13 (3)

0.15778 0.15778 0.15778 0.15778 0.15778
General Obligation Debt Rate 0.09117 0.09117 0.09117 0.09117 0.09117 Redevelopment Rate (4)

1.10918 0.00000 0.00000 0.00000 0.00000
Total Direct Rate (5)

0.39069 0.40086 0.24388 0.24412 0.24437
Notes:

Basic Levy (1)
Overlapping rates are those of local and county governments that apply to property owners within the city. Not all overlapping rates apply to all City property owners.

Fiscal Year
Agency
In 1978, California voters passed Proposition 13 which sets the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of any voter approved bonds. (3)
(2)
City's share of 1% Levy is based on the City's share of the general fund tax rate area with the largest net taxable value within the city. ERAF general fund tax shifts may not be included in tax ratio figure. (1)
(6)
(4)
Total direct rate is the weighted average of all individual direct rates applied by the government preparing the statistical section information and excludes revenue derived from aircraft. Beginning in 2013/14 the total direct rate no longer includes revenue generated from the former redevelopment tax rate areas. Challenges to recognized enforceable obligations are assumed to have been resolved during 2012/13. For the purposes of this report, residual revenue is assumed to be distributed to the City in the same proportions as general fund revenue.

Because basic and debt rates vary by tax rate area, individual rates cannot be summed.

Redevelopment rate is based on the largest RDA tax rate area and only includes rates(s) from indebtedness adopted prior to 1989 per California State statute. RDA direct and overlapping rates are applied only to the incremental property values. The approval of ABX1 26 eliminated Redevelopment from the State of California for the fiscal year 2012/13 and years thereafter. (5)

Page 242 of 278 ends

CITY OF MONTEREY PARK

DIRECT AND OVERLAPPING PROPERTY TAX RATES

LAST TEN FISCAL YEARS
(RATE PER $100 OIF TAXABLE VALUE)

Source: County of Los Angeles Tax Assessor and HDL Coren & Cone (166)

2016/17 2017/18 2018/19 2019/20 2020/21

1.00000 1.00000 1.00000 1.00000 1.00000
City Direct Rates:

Monterey Park - Pension Obligation Bonds 0.09117 0.09117 0.09117 0.09117 0.09117 Total Direct Rates 1.09117 1.09117 1.09117 1.09117 1.09117 Overlapping Rates:

Alhambra Unified School District 0.03615 0.05786 0.05404 0.04501 0.04509 Garvey School District 0.06067 0.08332 0.08705 0.08623 0.08425 Garvey-Alhambra 0.05303 0.09319 0.08800 0.07055 0.07360 Los Angeles Community College District 0.03596 0.04599 0.04621 0.02717 0.04016 Los Angeles Unified School District 0.13110 0.12219 0.12323 0.12552 0.13993 Metropolitan Water District 0.02300 0.03000 0.03000 0.03000 0.03000 Montebello Unified School District 0.14705 0.13514 0.13921 0.09306 0.09706 Monterey Park GO Debt 0.09117 0.09117 0.09117 0.09117 0.09117 Total Overlapping Rates 0.57813 0.65886 0.65891 0.56871 0.60126 Total Direct & Overlapping (2) Tax Rates 1.66930 1.75003 1.75008 1.65988 1.69243 City's Share of 1% Levy Per Prop 13 (3)

0.15778 0.15778 0.15778 0.15778 0.15778
General Obligation Debt Rate 0.09117 0.09117 0.09117 0.09117 0.09117 Redevelopment Rate (4)

0.00000 0.00000 0.00000 0.00000 0.00000
Total Direct Rate (5)

0.24460 0.24384 0.24490 0.24507 0.24526
Notes:

Agency
In 1978, California voters passed Proposition 13 which sets the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of any voter approved bonds.

Overlapping rates are those of local and county governments that apply to property owners within the city. Not all overlapping rates apply to all City property owners.

City's share of 1% Levy is based on the City's share of the general fund tax rate area with the largest net taxable value within the city. ERAF general fund tax shifts may not be included in tax ratio figure.

Fiscal Year
(3)
(2)
Basic Levy (1)
(1)
(6) Because basic and debt rates vary by tax rate area, individual rates cannot be summed. (5)
Redevelopment rate is based on the largest RDA tax rate area and only includes rates(s) from indebtedness adopted prior to 1989 per California State statute. RDA direct and overlapping rates are applied only to the incremental property values. The approval of ABX1 26 eliminated Redevelopment from the State of California for the fiscal year 2012/13 and years thereafter.

Total Direct rate is the weighted average of all individual direct rates applied by the government preparing the statistical section information and excludes revenue derived from aircraft. Beginning in 2013/14 the Total Direct Rate no longer includes revenue generated from the former redevelopment tax rate areas. Challenges to recognized enforceable obligations are assumed to have been resolved during 2012/13. For the purposes of this report, residual revenue is assumed to be distributed to the City in the same proportions as general fund revenue.
(4)

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CITY OF MONTEREY PARK

PRINCIPAL PROPERTY TAXPAYERS
(CURRENT YEAR AND NINE YEARS AGO)

Source: 1. HDL Coren & Cone

2. County of Los Angeles D epartment of Auditor-Controller (167)

Percent of
Total City
Taxable Taxable
Assessed Assessed
Taxpayers Valuation Valuation
Monterey Park Retail Partners LLC 121,591,213$ 1.43% Atlantic Times Square II LLC 111,174,527 1.31% Omninet LACC LLC ET AL 85,957,844 1.01% Union Bank 59,553,460 0.70%
Garfield Calmed Investment LP 55,314,759 0.65% Atlantic Square LLC 50,411,204 0.59%
Ethan Capital LLC 49,787,013 0.59%
BRE California Saturn LLC 40,575,600 0.48% Atlantic Times Square X LLC 39,123,773 0.46% Emerald Hills LLC 35,658,790 0.42%
649,148,183$ 7.65%
Total City Assessed Value 8,483,012,596$
2020/21

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CITY OF MONTEREY PARK

PRINCIPAL PROPERTY TAXPAYERS (CONTINUED)
(CURRENT YEAR AND NINE YEARS AGO)

Source: 1. HDL Coren & Cone

2. County of Los Angeles D epartment of Auditor-Controller (168)

Percent of
Total City
Taxable Taxable
Assessed Assessed
Taxpayers Valuation Valuation
Los Angeles Corporate Center LLC 83,527,303$ 1.50% Atlantic Times Square II LLC 63,079,424 1.13% Union Bank 61,510,543 1.11%
1977 Saturn LLC 50,370,000 0.91%
Garfield Calmed Investment LP 45,912,079 0.83% GMS Five 43,032,298 0.77%
MPM Partners LLC 25,426,165 0.46%
Emerald Hills LLC 24,027,602 0.43%
Real Estate Investors 1984 1 22,000,000 0.40% Mar Center LLC 19,408,565 0.35%
438,293,979$ 7.88%
Total City Assessed Value 5,561,866,907$
2011/12

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CITY OF MONTEREY PARK

PROPERTY TAX LEVIES AND COLLECTIONS

LAST TEN FISCAL YEARS

Source: County of Monterey Park Management Services Department County of Los Angeles Tax Assessor
(169)

Percentage
Fiscal Year 1% D.S. Amou nt 1% D.S. Amount of Levy
2011/12 7,098,802 4,243,185 11,341,986 6,565,780 4,551,806 11,117,586 98.02% 2012/13 7,286,613 5,305,437 12,592,050 (2) 6,986,871 4,290,564 11,277,435 89.56% 2013/14 7,634,155 4,523,042 12,157,197 7,425,568 4,437,271 11,862,839 97.58% 2014/15 8,065,770 4,540,488 12,606,259 7,796,253 4,443,105 12,239,358 97.09% 2015/16 8,455,052 4,956,680 13,411,732 8,163,466 4,837,739 13,001,205 96.94% 2016/17 8,824,332 5,182,017 14,006,349 8,497,606 5,046,043 13,543,649 96.70% 2017/18 9,279,439 5,447,199 14,726,639 8,918,736 5,290,647 14,209,382 96.49% 2018/19 9,729,981 5,745,652 15,475,634 9,348,499 5,629,544 14,978,043 96.78% 2019/20 10,218,301 5,990,008 16,208,309 9,742,395 5,844,063 15,586,458 96.16% 2020/21 10,722,859 6,244,037 16,966,896 10,230,502 6,088,919 16,319,421 96.18% Note:
1% - CY
Original Levy PER BOOK
for the Fiscal Year of Levy
Taxes Levied Collected within the
Fiscal Year
(2) Amount included pension override voter approved portion generated from the former redevelopment project areas.

The amounts presented are the City's property tax including secured and unsecured, but excluding interest and penalties. (1) This percentage may exceed 100% due to information provided by Tax Assessor may not clearly identify the year collected.

Page 246 of 278 ends

CITY OF MONTEREY PARK

PROPERTY TAX LEVIES AND COLLECTIONS (CONTINUED)

LAST TEN FISCAL YEARS

Source: County of Monterey Park Management Services Department County of Los Angeles Tax Assessor
(170)

Percentage
Fiscal Year 1% D.S. Amount 1% D.S. Amount of Levy (1)
2011/12 72,698 110,634 183,332 6,638,478 4,662,440 11,300,918 100% 2012/13 196,955 50,990 247,945 7,183,826 4,341,554 11,525,380 92% 2013/14 273,471 95,500 368,971 7,699,039 4,532,770 12,231,809 101% 2014/15 143,686 77,728 221,414 7,939,938 4,520,833 12,460,772 99% 2015/16 196,898 120,616 317,514 8,360,364 4,958,355 13,318,719 99% 2016/17 265,175 110,404 375,579 8,762,781 5,156,448 13,919,228 99% 2017/18 109,223 150,134 259,357 9,027,959 5,440,781 14,468,740 98% 2018/19 196,298 130,331 326,629 9,544,797 5,759,875 15,304,672 99% 2019/20 456,762 107,931 564,692 10,199,157 5,951,993 16,151,150 100% 2020/21 285,221 126,640 411,860 10,515,722 6,215,559 16,731,281 99% Note:
1% - PY

PER BOOK
Subsequent
Collections in
Total Collections to Date
Years
project areas.

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CITY OF MONTEREY PARK

RATIOS OF OUTSTANDING DEBT BY TYPE

LAST TEN FISCAL YEARS
(IN THOUSANDS)

Source: County of Monterey Park Management Services Department County of Los Angeles Tax Assessor
(171)

Pension Tax Tax Increment HUD Library Capital Total
Obligation Allocation Deferred Section 108 Special Tax Lease Governmental Fiscal Year Bonds Bonds Loan Loans Revenue Note Obligation Activities 2011/12(3) 15,850 - - 4,487 2,038 1,219 23,594 2012/13 15,365 - - 4,189 1,729 1,106 22,389 2013/14 14,890 - - 3,873 1,409 988 21,160 2014/15 14,425 - - 3,538 1,077 2,442 21,482 2015/16 13,970 - - 3,182 731 2,307 20,190 2016/17 13,520 - - 2,804 373 2,123 18,820 2017/18 13,075 - - 2,403 - 1,926 17,404 2018/19 12,635 - - 1,977 - 4,162 18,774 2019/20 12,200 - - 1,526 - 3,587 17,313 2020/21 11,770 - - 1,047 - 5,669 18,486 Notes:

Governmental Activities
(1) Percentage of Personal Income was based on data from Los Angeles County State of California Employment Department. (3) Starting February 1, 2012, Redevelopment Agency was dissolved and the City became the Successor Agency for the former Redevelopment Agency.
(2) Debt per capita data was based on the number of population within the City of Monterey Park.

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CITY OF MONTEREY PARK

RATIOS OF OUTSTANDING DEBT BY TYPE (CONTINUED)

LAST TEN FISCAL YEARS
(IN THOUSANDS)

Source: County of Monterey Park Management Services Department County of Los Angeles Tax Assessor
(172)

Business-Type
Activity
Capital Total (1) Percentage (2) Debt
Lease Primary of Personal Per
Fiscal Year Obligation Government Income Population Capita 2011/12(3)
5,533 29,127 0.01% 61,153 476 2012/13 4,966 27,355 0.01% 61,445 445 2013/14 4,392 25,552 0.01% 61,777 414 2014/15 12,747 34,229 0.01% 62,063 552 2015/16 12,127 32,317 0.01% 61,346 527 2016/17 10,567 29,387 0.00% 61,606 477 2017/18 9,809 27,213 1.08% ⁽⁴⁾ 62,240 437 2018/19 9,167 27,941 1.10% 61,828 452 2019/20 8,466 25,779 0.93% 60,734 424 2020/21 7,915 26,401 N/A 60,380 437 Notes:

Redevelopment Agency.
(4) Start from FY17/18, personal income data for California (1) Percentage of Personal Income was based on data from Los Angeles County State of California Employment Department. (2) Debt per capita data was based on the number of population within the City of Monterey Park. (3) Starting February 1, 2012, Redevelopment Agency was dissolved and the City became the Successor Agency for the former

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CITY OF MONTEREY PARK

RATIOS OF GENERAL BONDED DEBT OUTSTANDING

LAST TEN FISCAL YEARS
(IN THOUSANDS, EXCEPT PER CAPITA)

Source: City of Monterey Park Management Services Department (173)

Actual Percent of Net
Pension Taxable Actual Taxable Bonded
Obligation Value of Value of Debt Per
Fiscal Year Bonds (1) Property Property (2) Population Capita 2011/12 (3)
15,850 5,561,867 0.28% 61,153 259
2012/13 15,365 5,821,655 0.26% 61,445 250
2013/14 14,890 6,052,916 0.25% 61,777 241
2014/15 14,425 6,315,574 0.23% 62,063 232
2015/16 13,970 6,591,897 0.21% 61,346 228
2016/17 13,520 6,934,069 0.19% 61,606 219
2017/18 13,075 7,269,530 0.18% 62,240 210
2018/19 12,635 7,651,050 0.17% 61,828 204
2019/20 12,200 8,089,187 0.15% 60,734 201
2020/21 11,770 8,483,013 0.14% 60,380 195
Note:
available in the State of California.

Successor Agency for the former Redevelopment Agency.
(3) Starting February 1, 2012, Redevelopment Agency was dissolved and the City became the (1) The City has Pension Obligation bonds and does not have any other General Obligation Bonds. (2) Assessed value has been used because the actual value of taxable property is not readily

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CITY OF MONTEREY PARK

DIRECT AND OVERLAPPING DEBT
AS OF JUNE 30, 2021

Source: HDL Coren & Cone
(174)

Percent
Gross Bonded Applicable Net Bonded
Debt Balance To City Debt
Overlapping Debt
METROPOLITAN WATER DISTRICT 13,101,783 0.030 3,917
GARVEY SCH DIST DS 2004 SER 2006 11,734,236 29.500 3,461,589 GARVEY SCH DIST DS 2004 SER 2008 8,126,200 29.500 2,397,222 GARVEY SD DS 2011 REF BONDS 2,325,000 29.500 685,873
GARVEY SD DS 2014 REF BONDS 2,050,000 29.500 604,748
GARVEY SD DS 2016 SER A 8,700,000 29.500 2,566,492
GARVEY SD DS 2016 SER B 9,120,000 29.500 2,690,392
GARVEY SD DS 2016 SER C 8,740,000 29.500 2,578,292
L A CCD DS 2003 SER 2004B 2,115,000 0.880 18,619
L A CCD DS 2001 SER 2004A 31,555,000 0.880 277,795
LA CCD DS 2008 09 TXBL SER B 75,000,000 0.880 660,263
LA CCD DS 2008 2010 TXBL SER D 125,000,000 0.880 1,100,438 LA CCD DS 08 2010 TX SR E BABS 900,000,000 0.880 7,923,153 LA CCD DS 2008 SER F 19,000,000 0.880 167,267
LA CCD DS 2013 REF BONDS 12,270,000 0.880 108,019
LA CCD DS 2008 SER G 33,670,000 0.880 296,414
LA CCD DS 2015 REF SER A 203,235,000 0.880 1,789,180
LA CCD DS 2015 REF SER B 205,540,000 0.880 1,809,472
LA CCD DS 2015 REF SER C 190,920,000 0.880 1,680,765
LA CCD DS 2008 SER I 173,700,000 0.880 1,529,169
LA CCD DS 2016 REF BDS 239,880,000 0.880 2,111,784
LA CCD DS 2016 SER B 1 2,193,365,000 0.880 19,309,297
LA USD DS MEAS K 09 SR KRY BABS 200,000,000 0.033 66,471 LA USD DS 2005 SER H QSCBS 249,040,000 0.033 82,770
LA USD DS MEAS R 09 SER KRY BABS 363,005,000 0.033 120,646 LA USD DS MEAS Y 09 SER KRY BABS 806,795,000 0.033 268,142 LA USD MEAS R 2010 SER RY BABS 477,630,000 0.033 158,742 LA USD MEAS Y 2010 SER RY BABS 772,955,000 0.033 256,895 LA USD 2005 2010 SER J 1 QSCBS 134,415,000 0.033 44,673 LA USD 2005 2010 SER J 2 QSCBS 70,670,000 0.033 23,487
LA USD DS 2011 REF BOND SER A 1 52,305,000 0.033 17,384 LA USD DS 2011 REF BOND SER A 2 131,825,000 0.033 43,813 LA USD DS 2012 REF BOND SER A 79,965,000 0.033 26,577
LA USD DS 2014 REF BOND SER A 39,990,000 0.033 13,291
LA USD DS 2014 REF BOND SER B 126,165,000 0.033 41,931
$ 54,934,982
2020/21 Assessed Valuation: $6,734,816,484 After Deducting $1,748,196,112 Incremental Value.

Debt to Assessed Valuation Ratios: Direct Debt 0.00%
Overlapping debt 1.82%
Total debt 1.82%
Notes:
(1) This fund is a portion of a larger agency, and is responsible for debt in areas outside the city. (2) This report reflects debt which is being repaid through voter-approved property tax indebtedness. It excludes mortgage revenue, tax allocation bonds, interim financing obligations, non-bonded capital lease obligations, and certificates of participation, unless provided by the city.

(3) Overlapping governments are those that coincide, al least in part, with the geographic boundaries of the city. The percentage of overlapping debt applicable is estimated by using taxable assessed values. Applicable percentages were estimated by determining the portion of another governmental unit's taxable assessed value that is within the city's boundaries and dividing it by each unit's total taxable assessed value.

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CITY OF MONTEREY PARK

DIRECT AND OVERLAPPING DEBT (CONTINUED)
AS OF JUNE 30, 2021

Source: HDL Coren & Cone
(175)

Percent
Gross Bonded Applicable Net Bonded
Debt Balance To City Debt
Overlapping Debt (Continued)
LA USD DS 2014 REF BOND SER C 767,245,000 0.033 254,997 LA USD DS 2014 REF BOND SER D 115,040,000 0.033 38,234
LA USD DS 2015 REF BONDS SER A 218,260,000 0.033 72,540 LA USD DS 2008 SER A 2016 377,985,000 0.033 125,625
LA USD DS 2016 REF BONDS SER A 267,465,000 0.033 88,893 LA USD DS 2016 REF BONDS SER B 498,240,000 0.033 165,592 LA USD DS 17 REF SER A PROP BB 113,455,000 0.033 37,707 LA USD DS 17 REF SER A MEAS K 921,240,000 0.033 306,178 LA USD DS 2005 SER M 1 2018 111,265,000 0.033 36,979
LA USD DS 2008 SER B 1 2018 1,034,935,000 0.033 343,965 LA USD DS 19 REF 02 S D MEAS K 142,765,000 0.033 47,449 LA USD DS 19 REF 04 S I MEAS R 316,820,000 0.033 105,297 LA USD DS 19 REF 05 S F MEAS Y 85,710,000 0.033 28,486
LA USD MEAS R 2020 SER RYQ 829,000,000 0.033 275,522
LA USD MEAS Y 2020 SER RYQ 302,000,000 0.033 100,371
LA USD MEAS Q 2020 SER RYQ 907,190,000 0.033 301,509
LA USD DS SER RYQ 2020 B 196,310,000 0.033 65,244
MONTEBELLO UNIF DS 1998 SER 98 2,059,841 9.091 187,255
MONTEBELLO UNIF SD DS 98 SER 99 2,244,866 9.091 204,075 MONTEBELLO USD DS 1998 SER 2001 2,632,827 9.091 239,344 MONTEBELLO USD DS 1998 SER 2004 5,023,902 9.091 456,710 MONTEBELLO USD DS 1998 SER 2002 4,257,964 9.091 387,081 MONTEBELLO USD DS 04 SR09A 2BABS 12,640,000 9.091 1,149,071 MONTEBELLO USD DS REF 04 SER 13A 15,010,000 9.091 1,364,521 MONTEBELLO USD DS REF BND SER 15 26,185,000 9.091 2,380,412 MONTEBELLO USD DS RF BND 16 SR A 13,425,000 9.091 1,220,433 MONTEBELLO USD DS 2016 SER A 79,345,000 9.091 7,213,054 A
LHAMBRA USD DS 99 S A 5,359,556 32.704 1,752,788
ALHAMBRA USD DS 2005 REF BONDS 4,565,000 32.704 1,492,937 ALHAMBRA USD DS08 B1 ESID QSCB 6,400,000 32.704 2,093,055 ALHAMBRA GARVY USD DS 12 RF SR A 51,419,695 32.704 16,816,286 ALHAMBRA USD DS 12 REF BNDS SR B 3,405,000 32.704 1,113,570 ALHAMBRA GARVY SD DS 16 RF SR A 17,430,000 32.704 5,700,303 ALHAMBRA USD DS 2016 RF BND SR B 21,510,000 32.704 7,034,626 ALHAMBRA USD DS 16 SER A ESID 34,514,708 32.704 11,287,683 ALHAMBRA GARVY SD DS 16 S A 9,990,000 32.704 3,267,127
Sub-Total Overlapping Debt 67,754,919$
Total Overlapping Debt 122,689,901$
Direct Debt:

Pension Obligation Bonds 118,105,000 100% 118,105,000 HUD Section 108 Loan 1,047,000 100% 1,047,000 Capital Lease Obligations 5,668,732 100% 5,668,732 Total Direct Debt 124,820,732$
Total Direct and Overlapping Debt 247,510,633$

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CITY OF MONTEREY PARK

LEGAL DEBT MARGIN INFORMATION

LAST TEN FISCAL YEARS
(IN THOUSANDS)

Source: 1. City of Monterey Park Management Services Department

2. County of Los Angeles D epartment of Auditor-Controller (176)

2011/12 2012/13 2013/14 2014/15 2015/16
Assessed valuation 5,561,867 5,821,655 6,052,916 6,315,574 6,591,897 Debt limit percentage 15% 15% 15% 15% 15%
Debt limit 834,280 873,248 907,937 947,336 988,785 Total net debt applicable to limit:

Pension obligation bonds 15,850 15,365 14,890 14,425 13,970 Legal debt margin 818,430 $ 857,883 $ 893,047 $ 932,911 $ 974,815 $ Total debt applicable to the limit
as a percentage of debt limit 1.90% 1.76% 1.64% 1.52% 1.41% exceed 15 percent of total assessed valuation.

Note: In accordance with California Government Code Section 43605, total general Fiscal Year

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CITY OF MONTEREY PARK

LEGAL DEBT MARGIN INFORMATION (CONTINUED)

LAST TEN FISCAL YEARS
(IN THOUSANDS)

Source: 1. City of Monterey Park Management Services Department

2. County of Los Angeles D epartment of Auditor-Controller (177)

2016/17 2017/18 2018/19 2019/20 2020/21
Assessed valuation 6,934,068 7,269,530 7,651,050 8,089,187 8,483,013 Debt limit percentage 15% 15% 15% 15% 15%
Debt limit 1,040,110 1,090,430 1,147,657 1,213,378 1,272,452 Total net debt applicable to limit:

Pension obligation bonds 13,520 13,075 12,635 12,200 118,105 Legal debt margin 1,026,590 $ 1,077,355 $ 1,135,022 $ 1,201,178 $ 1,154,347 $ Total debt applicable to the limit
as a percentage of debt limit 1.30% 1.20% 1.10% 1.01% 9.28% Note: In accordance with California Government Code Section 43605, total general exceed 15 percent of total assessed valuation.

Fiscal Year

Page 254 of 278 ends

CITY OF MONTEREY PARK

DEMOGRAPHIC AND ECONOMIC STATISTICS

LAST TEN FISCAL YEARS

Source: 1. Bureau of Economic Analysis

2. State of California Employment Developm ent Department (data shown is for the county)

3. State of Californ ia, Department of Finance
(178)

Per Capita
Personal Personal Unemployment
Fiscal Year Population Income Income Rate
2011/12 61,153 443,088,010 44,474 9.0% 2012/13 61,445 466,098,988 46,530 7.0% 2013/14 61,777 499,767,889 49,400 6.5% 2014/15 62,063 544,324,900 53,521 5.2% 2015/16 61,346 563,907,868 55,624 5.2% 2016/17 61,606 593,741,110 58,419 4.5% 2017/18 ⁽¹⁾ 62,240 2,514,503 63,720 3.9% 2018/19 61,828 2,544,235 64,513 4.1% 2019/20 60,734 2,763,312 70,192 9.6% 2020/21 60,380 N/A N/A 13.3%
Note:
the data shown for California from Bureau of Economic Analysis. (1) Start from FY17/18, personal income and Per capita personal income are

Page 255 of 278 ends

CITY OF MONTEREY PARK

PRINCIPAL EMPLOYERS
(CURRENT YEAR AND NINE YEARS AGO)

Source: 1. City of Monterey Park Management Services Department

2. State of California Empl oyment Development Department) (179)

Percentage of
Number of Total
Employers Employees Employment (1)
GARFIELD MEDICAL CENTER 985 0.023%

BLUE SHIELD OF CALIFORNIA PROMISE
HEALTH PLAN ( 2 LOCATIONS) 578 0.013% SOUTHERN CALIFORNIA GAS COMPANY 430 0.010% COSTCO WHOLESALE 420 0.010%
MONTEREY PARK HOSPITAL 365 0.009%
NETWORK MEDICAL MANAGEMENT INC 232 0.005% RALPHS GROCERY CO (2 LOCATIONS) 199 0.005% HOME DEPOT 191 0.004%
BEHAVIOR RESPITE IN ACTION INC 190 0.004% REMITCO L L C 179 0.004%
CARMICHAEL INTERNATIONAL SERVICE 127 0.003% CAMINO REAL CHEVROLET 122 0.003%
CHINESE DAILY NEWS (DBA) 118 0.003%
HERITAGE MANOR HEALTHCARE 97 0.002%
2020/21

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CITY OF MONTEREY PARK

PRINCIPAL EMPLOYERS (CONTINUED)
(CURRENT YEAR AND NINE YEARS AGO)

Source: 1. City of Monterey Park Management Services Department

2. State of California Empl oyment Development Department) (180)

Percentage of
Number of Total
Employers Employees Employment (1)
GARFIELD MEDICAL CENTER 972 0.022%
CITY OF MONTEREY PARK 407 0.009%
MONTEREY PARK HOSPITAL 362 0.008%
SOUTHERN CALIFORNIA GAS COMPANY 298 0.007% SYNERMED INC 227 0.005%
CARE 1ST HEALTH PLAN (2 LOCATIONS) 353 0.008% RALPHS GROCERY CO (2 LOCATIONS) 165 0.004% REMITCO L L C 136 0.003%
CHINESE DAILY NEWS (DBA) 128 0.003% SOUTHERN CALIFORNIA EDISION CO. 126 0.003% CAMINO REAL CHEVROLET 119 0.003%
24 HOURS FITNESS 95 0.002%
TEAC AEROSPACE TECHNOLOGIES INC 94 0.002%
MONTEREY PARK CONVALESCENT 93 0.002%
2011/12

Page 257 of 278 ends

CITY OF MONTEREY PARK

CITY EMPLOYEES BY FUNCTION

LAST TEN FISCAL YEARS

Source: City of Monterey Park Annual Budget
(181)

Function 11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21 General Government 32 32 32 31 32 33 33 35 38 39
Public Safety
Police 113 114 114 114 116 119 119 122 122 122
Fire 58 58 58 58 58 59 61 61 66 66
P u b l i c W o r k s 7 07 07 07 17 17 17 17 1 8 0 8 3 Culture and Recreation
L i b r a r y 2 42 52 52 62 62 62 62 6 2 5 2 5
Recreation/Community Services 36 36 36 37 37 37 37 37 36 38 Community/Economic Development ⁽¹⁾ 12 13 13 14 14 15 17 17 0 0 Total 345 348 347 350 352 359 364 368 367 373
(1) Starting from FY2019-20, personnel and functions from Community/Economic Development are distributed to Fire and Public Works departments. In FY2019-20, code Enforcement Division is under the supervision of Fire Department and Planning and Building Divisions are under the supervision of Public Works Department.

Note: Numbers represent Full-Time-Equivalent positions.

Fiscal Year

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CITY OF MONTEREY PARK

OPERATING INDICATORS BY FUNCTION

LAST TEN FISCAL YEARS

Source: 1. City of Monterey Park Annual Budget

2. City of Monterey Park Ma nagement Services Department

3. City of Monterey Park Engineering Division
(182)

2011/12 2012/13 2013/14 2014/15 2015/16
Police:

Number of service calls 54,128 51,130 51,735 54,568 54,183 Response time priority I (emergency) 4:10 3:55 4:28 3:56 4:49 (minutes/seconds)
Fire:

Number of emergency calls 4,103 4,565 4,538 4,605 4,985 Inspections 2,570 2,385 2,955 2,424 5,139 Public works:

Street resurfacing (miles) 2.05 14.68 0.48 0.16 2.12 Parks and recreation:

Hours of recreation classes 770 540 640 640 650 177 145 167 165 175 Water:

Meters changed and upgrades ⁽²⁾ 1,149 739 329 10,994 98 Water turn-ons and turn-offs 2,436 2,856 2,412 2,412 2,682 Average daily consumption 8,000 8,000 8,000 8,000 8,000 (thousand of gallons)
(1) Start FY 2016/17, number of hours of facility rentals are being used. (2) Start FY 2017/18, total meters installed to field-testable and/or field-repairable standards was being omitted.

Number of facility rentals /
Number of hours of facility rentals (1)
Note:

Fiscal Year

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CITY OF MONTEREY PARK

OPERATING INDICATORS BY FUNCTION (CONTINUED)

LAST TEN FISCAL YEARS

Source: 1. City of Monterey Park Annual Budget

2. City of Monterey Park Ma nagement Services Department

3. City of Monterey Park Engineering Division
(183)

2016/17 2017/18 2018/19 2019/20 2020/21
Police:

Number of service calls 53,646 54,696 53,534 50,153 49,113 Response time priority I (emergency) 4:46 4:22 4:02 3:59 3.49 (minutes/seconds)
Fire:

Number of emergency calls 5,047 5,121 4,355 4,251 4,290 Inspections 3,523 3,523 2,922 3,200 2557 Public works:

Street resurfacing (miles) 2.71 2.80 - 2.79 0 Parks and recreation:

Hours of recreation classes 600 922 960 640 0 1,197 1,230 2,816 640 0 Water:

Meters changed and upgrades ⁽²⁾ 112 8 5 7 7 Water turn-ons and turn-offs 2,440 2,440 2,080 3,471 2000 Average daily consumption 8,000 8,000 8,000 8,000 8,000 (thousand of gallons)
(1) Start FY 2016/17, number of hours of facility rentals are being used. (2) Start FY 2017/18, total meters installed to field-testable and/or field-repairable standards was being omitted.

Note:

Number of facility rentals /
Number of hours of facility rentals (1)
Fiscal Year

Page 260 of 278 ends

CITY OF MONTEREY PARK

CAPITAL ASSETS STATISTICS BY FUNCTION

LAST TEN FISCAL YEARS

Source: 1. City of Monterey Park Annual Budget

2. City of Monterey Park Water Division
(184)

2011/12 2012/13 2013/14 2014/15 2015/16
Police:

S t a t i o n s 11111
Fire:

F i r e s t a t i o n s 33333
Public works:

Streets (miles) 119 119 119 119 119
Streetlights 3,359 3,359 3,359 3,359 3,359
T r a f f i c s i g n a l s 7 57 57 57 57 5
Parks and recreation:

P a r k s 1 41 41 41 41 4
Community centers
Water:

Water mains (miles) 134 134 134 134 134
Maximum Actual Daily Pumped 11,340 12,810 11,510 9,680 7,200 (thousands of gallons)
Wastewater:

Sanitary sewers (miles) 126 126 126 126 126
Storm sewers (miles) 12.43 12.43 12.43 12.43 12.43
Fiscal Year

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CITY OF MONTEREY PARK

CAPITAL ASSETS STATISTICS BY FUNCTION (CONTINUED)

LAST TEN FISCAL YEARS

Source: 1. City of Monterey Park Annual Budget

2. City of Monterey Park Water Division
(185)

2016/17 2017/18 2018/19 2019/20 2020/21
Police:

Stations 1 1 1 1 1
Fire:

Fire stations 3 3 3 3 3
Public works:

Streets (miles) 119 119 119 119 119
Streetlights 3,359 3,359 3,359 3,359 3359
T r a f f i c s i g n a l s 7 57 57 57 5 7 5
Parks and recreation:

P a r k s 1 41 41 41 4 1 4
Community centers
Water:

Water mains (miles) 134 134 134 134 134
Maximum Actual Daily Pumped 6,800 7,000 6,700 6,700 6,800 (thousands of gallons)
Wastewater:

Sanitary sewers (miles) 126 126 126 126 126
Storm sewers (miles) 12.43 12.43 12.43 12.43 12.43
Fiscal Year

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CITY OF MONTEREY PARK

WATER SOLD BY TYPE OF CUSTOMER

LAST TEN FISCAL YEARS
(IN MILLIONS OF GALLONS)

Source: City of Monterey Park Management Services Department (186)

2011/12 2012/13 2013/14 2014/15 2015/16
Type of Customers:

Residential 2,570.3 2,825.1 2,824.1 2,431.1 2,504.0 Commercial 861.8 893.6 893.8 896.6 914.5 Institutional 175.0 163.0 160.0 159.1 163.9 Government 90.0 88.0 82.0 80.0 81.6 Total 3,697.1 3,969.7 3,959.9 3,566.8 3,664.0 Fiscal Year

Page 263 of 278 ends

CITY OF MONTEREY PARK

WATER SOLD BY TYPE OF CUSTOMER (CONTINUED)

LAST TEN FISCAL YEARS
(IN MILLIONS OF GALLONS)

Source: City of Monterey Park Management Services Department (187)

2016/17 2017/18 2018/19 2019/20 2020/21
Type of Customers:

Residential 2,151.5 2,355.5 2,435.4 2,445.0 2,483.1 Commercial 835.8 876.9 901.5 896.4 863.2 Institutional 161.1 163.3 165.4 163.2 159.1 Government 80.3 83.1 85.3 84.7 83.2 Total 3,228.7 3,478.8 3,587.6 3,589.3 3,588.6 Fiscal Year

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CITY OF MONTEREY PARK

WATER RATES

LAST TEN FISCAL YEARS

Source: City of Monterey Park Management Services Department (188)

Monthly Rate per
Base 1,000
Fiscal Year Rate Gallons
2011/12 12.63 2.21
2012/13 12.63 2.21
2013/14 12.63 2.21
2014/15 14.50 2.39
2015/16 15.95 2.49
2016/17 17.55 2.89
2017/18 19.30 3.02
2018/19 21.25 3.15
2019/20 19.20 3.01
2020/21 19.20 3.01
Note: Rates are based on 5/8" meter and 3/4 meters (the City is standardizing to 3/4 meters), which is the standard household meter size.

Page 265 of 278 ends

CITY OF MONTEREY PARK

TOP TEN WATER CUSTOMERS
(CURRENT YEAR AND FOUR YEARS AGO)

Source: City of Monterey Park Management Services Department (189)

Percent of Percent of
Water Total Water Water Total Water
Water Customer Charges Revenues Charges Revenues
Emerald Hills, LLC 133,015$ 1.30% 110,625$ 1.20% Garfield Estates 117,032 1.14% 103,096 0.96% MP 3600 LLC 107,095 1.05% 40,183 1.67% Garfield Medical Ctr 88,143 0.86% 67,872 0.91% Atlantic Times Square II, LLC 80,016 0.78% 89,801 1.20% Continental Homes 63,631 0.62% 71,922 0.96% Atlantic Times Square II, LLC 60,756 0.59% 125,274 1.67% Mtry Pk Intrcom Hosp 49,603 0.48% 40,802 0.55% Emerald Hills, LLC 38,471 0.38% 31,011 0.41% Equity Office 33,916 0.33% 14,822 0.20% 771,679$ 7.54% 695,408$ 9.73%
2020/21 2016/2017

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City Council Staff Report
DATE: April 6, 2022
AGENDA ITEM NO:

TO: The Honorable Mayor and City Council
FROM: Martha Garcia, Director of Management Services
SUBJECT: Professional Services Amendment with Bartel Associates, LLC for the CalPERS Retirement Plan, Empower Retirement Plan, and Other Postemployment Benefits Actuarial Valuation Proposals and Data Requests
RECOMMENDATION:

It is recommended that the City Council consider:

1. Authorizing the City Manager to execute an Amendment with Bartel Associates, LLC in a form approved by the City Attorney, to provide CalPERS Retirement Plan, Empower Retirement Plan, and Other Postemployment Benefits (OPEB) actuarial valuation proposals and data requests for an amount of $135,800; and

2. Taking such additional, related, action that may be desirable.

EXECUTIVE SUMMARY:

On September 2, 2020, City Council authorized a professional services agreement with Bartel Associates, LLC for the purpose of CalPERS Retirement Plan pension override tax study, actuarial valuation proposals and data request. Continued work with Bartel Associates LLC is desirable to assist with on other actuarial valuation proposals and data requests including the CalPERS Retirement Plan, Empower Retirement Plan, and OPEB.

Accordingly, it is requested that the City Council authorize the City Manager to execute an Amendment for a total amount of $135,800
BACKGROUND:

CalPERS Retirement Plan:

The City is interested in quantifying how much of the City’s current CalPERS contribution rates are due to the benefits in effect before and after July 1, 1978. It is important to understand no single method accomplishes this and there’s no single answer. Bartel Associates will review CalPERS actuarial information, then clearly explain the methodology in a report. Bartel will estimate the Unfunded Actuarial Accrued Liability (UAAL) and Normal Cost (NC) for both Miscellaneous and Safety plans and allocate them between benefit levels effective before and after July 1, 1978.

Bartel prepared a pension override tax report based on the June 30, 2019, CalPERS actuarial valuation for the 2020/21 and 2021/22 CalPERS employer contribution allocation. The City would like updated reports based on CalPERS June 30, 2021 Consent Calendar - 3E

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April 6, 2022

valuation and June 30 2023 valuation. The June 30, 2021 , report will provide the City’s CalPERS employer contribution allocation for 2022/23 and 2023/24 and the June 30, 2023, report will provide the City’s CalPERS employer contribution allocation for 2024/25 and 2025/26.

Empower Retirement Plan:

The Empower Retirement Plan (“Plan”) provides pension benefits for employees of the City hired prior to April 1976. The benefit provided is the pension amount participants would have received under the City’s CalPERS pension plan under the 2.7%@55 pension formula if all City service (pre and post April 1976 service) was credited less the actual benefit paid under the City’s CalPERS pension plan for City CalPERS service. (CalPERS does not provide benefit credit for City service prior to April 1, 1976) . There were 51 retirees and beneficiaries and 2 vested terminated participants for the June 30, 2019 , valuation. Currently, there are 32 retirees and beneficiaries in the plan.

The June 30, 2019, valuation provided the Actuarially Determined Contributions for the 2020/21 and 2021/22 fiscal years. The June 30, 2021 valuation will provide the Actuarially Determined Contributions (ADCs) for the 2022/23 and 2023/24 fiscal years and the June 30, 2023 valuation will provide the ADCs for the 2024/25 and 2025/26 fiscal years.

GASBS 67 provides accounting standards for governmental pension plans. GASBS 68 provides pension accounting standards for governmental employers. Actuarial valuations must be done at least biennially. GASBS 68 information can be determined as of a measurement date no earlier than the prior fiscal yearend and can be based on a roll- forward of the results of an actuarial valuation performed no earlier than 30 months prior to the fiscal year-end. (The City currently uses its financial statement date as the GASBS 68 measurement date.)

OPEB:

The last actuarial valuation as of June 30, 2019 provided the funded status as of June 30, 2019, ADCs for the fiscal years ending June 30, 2021 and June 30, 2022, and was used as the basis for the City’s GASBS 75 financial reporting for the fiscal years ending June 30, 2020 and June 30, 2021.

The next actuarial valuation as of June 30, 2021 will provide the funded status as of June 30, 2021, ADCs for the fiscal years ending June 30, 2023 and June 30, 2024, and will be used as the basis for the City’s GASBS 75 financial reporting for the fiscal years ending June 30, 2022 and June 30, 2023.

The June 30, 2023, valuation will provide the funded status as of June 30, 2023, ADCs for the fiscal years ending June 30, 2025 and June 30, 2026, and will be used as the basis for the City’s GASBS 75 financial reporting for the fiscal years ending June 30, 2024 and June 30, 2025.

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GASBS 75 provides OPEB accounting standards for governmental employers. Actuarial valuations must be done at least biennially. GASBS 75 information can be determined as of a measurement date no earlier than the prior fiscal year-end and can be based on a roll-forward of the results of an actuarial valuation performed no earlier than 30 months prior to the fiscal year-end. (The City currently uses the prior fiscal year-end as the GASBS 75 measurement date.)

Due to the expertise and knowledge of Bartel Associates, LLC, staff is recommending that City Council authorize the City Manager to execute Amendment number 1 with Bartel Associates, LLC for CalPERS Retirement Plan, Empower Retirement Plan, and OPEB actuarial valuation proposals and data requests for a total amount of $135,800.

FISCAL IMPACT:

Funds for these services have been included in the City’s annual budget.

Respectfully submitted by:

Martha Garcia
Director of Management Services

Approved by:

Reviewed by:

Ron Bow
City Manager
Karl H. Berger
City Attorney

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Gity Council Staff Report
DATE: April6,2022
AGENDA ITEM NO:

TO:

FROM:

SUBJEGT:

The Honorable Mayor and City Council
Matthew Hallock, Fire Chief
State Homeland Security Program Subrecipient Agreement Grant Year 2020 - Award of Agreement
RECOMMENDATION:

It is recommended that the City Council consider:

1. Adopting a Resolution authorizing the City Manager to apply for, receive, and execute an agreement, in a form approved by the City Attorney, with the County of Los Angeles for an amount not to exceed 9182,720, for the State Homeland Security Program Grant Year 2020; and

2. Taking such additional, related, action that may be desirable.

EXEGUTIVE SUMMARY:

The County of Los Angeles is a Subgrantee of the State Homeland Security Program Grant Year 2020 ("SHSP 2020") that is provided by the U.S. Department of Homeland Security. Per the subrecipient agreement, the County of Los Angeles is authorized to enter into a subrecipient agreement with the City of Monterey Park, which includes a distribution of SHSP 2020 grant funds to the City of Monterey Park in the amount of $182,720. A portion of the $182,720 is dedicated to fund a full{ime Regional Training (RïG) lntelligence Chief position for the Los Angeles Area Fire Chiefs Association (LAAFCA). Upon approval of the subrecipient agreement, staff will publicize a Request for Proposal, to fill the position by July 1,2022, and oversee administration of funds for this position. Staff recommends City Council to authorize the City to execute an agreement, in a form approved by the City Attorney, with the County of Los Angeles for an amount not to exceed 5182,720 for the SHSP 2020 Grant.

BACKGROUND:

Monterey Park Fire Department must keep pace with public safety needs in the City and region. Per the subrecipient agreement, "this financial assistance is being provided to the Subrecipient in order to address the unique equipment, training, organization, exercise and planning needs of the Subrecipient, and to assist the Subrecipient in building effective prevention and protection capabilities to prevent, response to, and recover from threats or acts of terrorism." Monterey Park Fire Department has been awarded SHSP grants in the Past and seeks City Council approval of the SHSP 2020 Grant and subrecipient agreement.

Consent Calendar - 3F

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April6,2022
FISGAL IMPAGT:

The City of Monterey Park will receive a total of $182,720 from the 2020 State Homeland Security Program. There is no matching requirement for this grant.

Respectfully submitted by Prepa
Matthew Hallock
Fire Chief
Approved by:

Ron Bow
City Manager
Attachment:

1. Resolution for SHSP Grant Year 2020
Angela Loera
Principal Management Analyst
Reviewed by:

Karl H. Berger
City Attorney

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April 6, 2022

ATTACHMENT 1
Resolution for SHSP Grant Year 2020

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RESOLUTION NO.

A RESOLUTION AUTHORIZING THE CITY MANAGER, OR DESIGNEE,

TO APPLY FOR, RECEIVE, AND APPROPRIATE GRANT FUNDS FOR

THE STATE HOMELAND SECURITY PROGRAM FOR GRANT YEAR
2020.

BE IT RESOLVED by the Council of the City of Monterey Park as follows:

SECTION 1: The City Council finds as follows:

A. The City applied for the Sate Homeland Security Program (“SHSP”) from the County of Los Angeles. The City applied for funding to procure equipment and training for firefighters. Additionally, the C ity will encumber and administer funds for a full-time position with the Los Angeles Area Fire Chiefs Association (“LAAFCA”).

B. The SHSP description is to provide financial assistance to subrecipients to address the unique equipment, training, organization, exercise, and planning needs of the subrecipient, and to assist in building effective prevention and protection capabilities to prevent, respond to, and recover from threats or acts of terrorism.

C. The City will receive $182,720 from the County of Los Angeles , for the SHSP Grant Year 2020.

SECTION 2: The City Manager, or designee, is authorized to apply for a grant from the County of Los Angeles to be used for the purchase of equipment, firefighter training, and fund oversight of the Los Angeles Area Fire Chiefs Association Regional Training Group Intelligence Chief position.

SECTION 3: The City Manager, or designee, is authorized to execute any required documents to receive the grant for purposes identified herein.

SECTION 4: Severability. If any part of this Resolution or its application is deemed invalid by a court of competent juris diction, the City Council intends that such invalidity will not affect the effectiveness of the remaining provision or application and, to this end, the provisions of this Resolution are severable.

SECTION 5: Electronic Signatures. This Resolution may be executed with electronic signatures in accordance with Government Code §16.5. Such electronic signatures will be treated in all respects as having the same effect as an original signature.

SECTION 6: Recordation. The Mayor, or presiding officer, is author ized to sign this Resolution signifying its adoption by the City Council of the City of Monterey Park and the City Clerk, or her duly appointed deputy, may attest thereto.

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Resolution No.

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SECTION 7: Effective Date. This Resolution will become effective immediately upon adoption and will remain effective unless repealed or superseded.

PASSED AND ADOPTED this ___ day of ______________, 2022.

________________________________
Henry Lo, Mayor

Attest:

__________________________
Vincent D. Chang, City Clerk

Approved as to Form:

__________________________
Karl H. Berger, City Attorney

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RES
OLUTION NO.

A RES

OLUTION OF THE CITY COUNCIL OF THE CITY OF MONTEREY

PARK ENSURING EQUAL POLICIES FOR REPRODUCTIVE HEALTH

CARE SERVICES
BE
IT RESOLVED by the Council of the City of Monterey Park as follows:

SE
CTION 1: The City Council finds as follows:

A. The S
upreme Court of the United States acknowledged in its 1973 landmark decision Roe v. Wade that the ability to make a private medical decision impacting one’s reproductive health is a constitutionally protected right.

B. Bef
ore 1973, the year when Roe v. Wade was enacted, people faced significant obstacles to safe reproductive health services, resulting in widespread loss of life and severe illness.

C. Supp
ort for safe and legal abortions has reached an all -time high, with the Public Policy Institute of California reporting that 77% of Californians support Roe v.

Wade.

D. Abor
tion is health care; restrictions and bans that violate reproductive freedom disproportionately impact populations that already face barriers to accessing care, including the most marginalized women, non- binary, transgender people, low - income people, people of color, immigrants, and young people.

E. Ac
cess to abortion continues to be a right in name only, with many unable to access the medical procedure due to restrictive laws, financial hardships, and other barriers.

F. As
States around the country enact harsh laws that violate the fundamental rights of people, the City of Monterey Park will continue to uphold the laws in California to ensure everyone’s right to reproductive freedom.

G. Lik
e all health care decisions, those seeking abortion and other reproductive care in Monterey Park have the fundamental right of privacy for personal reproductive decisions.

H. To ensur
e the right to reproductive freedom in Monterey Park, the City Council requests that staff survey all permitting policies to ensure reproductive health care services are treated equally to all other forms of health care.

I. The C
ity Council affirms its commitment to the reproductive freedom rights afforded to all women as essential to the lives, liberties , health, and equality of City Communications (City Council)
Agenda No. 6A

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Resolution No.

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women regardless of socioeconomic, et hnic, racial, cultural or religious background, age or sexual orientation, and to opposing any laws or regulations that pose a threat to reproductive freedom, reproductive rights, sexual freedom , and self-determination.

SECTION 2: Electronic Signatures . This Resolution may be executed with electronic signatures in accordance with Government Code §16.5. Such electronic signatures will be treated in all respects as having the same effect as an original signature.

SECTION 3: Recordation. The Mayor, or presiding officer, is authorized to sign this Resolution signifying its adoption by the City Council of the City of Monterey Park and the City Clerk, or her duly appointed deputy, may attest thereto.

SECTION 4: Effective Date. This Resolution will become effective immediately upon adoption and will remain effective unless repealed or superseded.

PASSED AND ADOPTED this ___ day of ______________, 2022.

________________________________
Henry Lo, Mayor

Attest:

__________________________
Vincent Chang, City Clerk

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Monterey Park City CouncilApril 6, 2022

Monterey Park City Council
April 6, 2022