December 2, 2025
Annual Compressive Financial Report
for Fiscal Year Ended
June 30, 2024
2 | December 3, 2025
Annual Comprehensive Financial Report (ACFR)
• Introductory Section (pages I – XV)
• Financial Section (pages 1 – 94)
• Required Supplementary Information (pages 95 – 113)
• Supplementary Information (pages 114 – 141)
• Statistical Section (pages 142 – 183)
3 | December 3, 2025
Financial Statements
• Citywide Financial Statements
• Statement of Net Position
• Statement of activities
• Governmental Funds Financial Statements
• Balance Sheet
• Statement of Revenues, Expenditures, and Change in Fund Balance • Reconciliations Statements
• Proprietary Funds Financial Statements
• Statement of Net positions
• Statement of Revenues, Expenses and Change in Net Position • Statement of Cash Flows
• Fiduciary Fund Financial Statements
• Statement of Fiduciary Net Position
• Statement of Change in Fiduciary Net Position
• Notes to the Financial Statements
4 | December 3, 2025
ACFR Highlights Citywide
• Total Revenues exceeded Expenses by $11.3 million
• Capital Assets Increase by $9.2 million
• Total Long-Term Debt decreased by $5.1 million
• Total OPEB Liability increased by $150,590
• Net Pension Liability increased by $6.7 million
5 | December 3, 2025
59 Individual Funds
• 1 General Fund
• 33 Special Revenue Funds (CDBG, Section 8, Gas Tax Fund) • 2 Debt Service Funds (POB & Library Bond)
• 3 Capital Project Funds (Trans Net, Prop A, State-Local Partnership) • 7 Proprietary Funds (Internal Service Funds)
• 5 Fiduciary Funds (Successor Agency, Custodial Funds) • 1 Permanent Fund (Library Endowment Fund)
• 7 General Fixed Asset & Long-Term Debt account groups 6 | December 3, 2025
General Fund Revenues
FY 2023 FY 2024 FY 2024 FY 2024 FY 2024
July to June July to June July to June July to June July to June Actual Actual Budget Balance % Received
Property Tax 14,721,570 15,834,107 14,965,280 868,827 106% Sales Tax 38,450,228 40,095,816 39,398,000 697,816 102% Franchise Fees 2,490,692 3,082,215 2,097,500 984,715 147% Business License 656,191 652,987 624,000 28,987 105%
Development Fees 1,693,419 1,304,978 1,502,630 (197,652) 87% TOT 2,488,614 2,042,380 1,836,000 206,380 111%
Fines and Fees 2,627,729 2,536,094 2,896,806 (360,712) 88% Other Revenues 6,673,707 8,421,050 4,870,097 3,550,953 173% Transfers-in 2,005,500 2,005,500 2,005,500 - 100%
Total 71,807,650 75,975,129 70,195,813 5,779,316 108%
7 | December 3, 2025
General Fund Expenditures
8 | December 3, 2025
FY 2023 FY 2024 FY 2024 FY 2024 FY 2024
July to June July to June July to June July to June July to June By Department: Actual Actual Budget Balance % Used
Police 30,144,781 28,489,423 30,842,741 2,353,318 92%
Fire 13,606,049 12,734,994 13,013,042 278,048 98%
Engineering & Public Works 4,693,168 4,858,237 5,754,954 896,717 84% Community Development 3,786,260 3,497,210 4,418,326 921,116 79% Community Services 1,724,496 2,032,291 2,488,224 455,933 82% Administration 10,145,012 16,980,105 13,535,156 (3,444,949) 125% Capital Improvements 2,396,265 1,858,497 8,421,384 6,562,887 22% Total 66,496,032 70,450,757 78,473,827 8,023,070 90%
General Fund Expenditures
9 | December 3, 2025
FY 2023 FY 2024 FY 2024 FY 2024 FY 2024
July to June July to June July to June July to June July to June By Category: Actual Actual Budget Balance % Used
Wages & Benefits 44,814,060 41,312,775 46,647,600 5,334,825 89% Operating & Maint. 16,388,092 18,917,977 19,952,610 1,034,633 95% Capital Outlay 2,726,671 1,939,246 8,600,671 6,661,425 23% Transfers-Out 2,567,210 8,280,759 3,272,946 (5,007,813) 253% Total 66,496,032 70,450,757 78,473,827 8,023,070 90%
Net Surplus/Deficit 5,311,618 5,524,372 (8,278,014)
Fund Balance
1. Non-spendable: Amounts that cannot be spent because they are not in spendable form (e.g., land for resale, inventories, prepaid amounts)
2. Restricted: Amounts that are subject to externally enforceable constraints, such as those imposed by grant providers, constitutional provisions, or enabling legislation.
3. Committed: Amounts that can only be used for specific purposes determined by the government's highest level of decision-making authority. (e.g. Economic Contingency Reserve and the Facility Maintenance Reserve.
4. Assigned: Amounts that a government intends to use for a specific purpose. This intent can be expressed by the governing body or a delegate. (e.g. PO, CIP, Accrued Leave
5. Unassigned: The residual classification for the general fund, representing amounts that are not constrained and are available for any purpose. (Remaining Balance) 10 | December 3, 2025
Fund Balance
11 | December 3, 2025
FY 2023 FY 2024
Nonspendable
-Land Held for Resale 4,021,182 4,021,182
-Inventory & prepaid items 73,336 64,684
Restricted
-Community development 20,000 20,000
-Section 115 OPEB Trust 3,267,926 3,539,380
-Section 115 Pension Trust 6,668,501 7,222,427
Committed
-Facility maintenance 2,880,000 2,880,000
-Economic contingency 12,800,000 12,800,000
Assigned
-Accrued Employee Leave 4,330,737 4,535,871
-Purchas Orders 1,070,858 2,444,187
-CIP 4,202,460 3,716,955
Unassigned 23,040,220 26,654,907
Total Fund Balance 62,375,220 67,899,593
Discussion and Questions