Attachment A
City of Oakland
General Obligation Bonds
Levy Calculations for Fiscal Year 2024-25
Bond Description
Fund Number
Series 2015A
(Refunding)
6064
Series 2017C
(Measure DD)
6322
Series 2017A-1
(Measure KK)
6330
Series 2017A-2
(Measure KK)
6331
Series 2020B-1
(Measure KK)
6332
Series 2020B-2
(Measure KK)
6333
Series 2020
(Refunding)
6334
Series 2022C-1
(Measure KK)
6335
Series 2023 A-1
(Measure U)
6340
Series 2023A-2
(Measure U)
6341
Series 2023D
(Measure KK)
6337
GOB
TOTAL
Cash available for debt service as of 6/30/2024
Cash held by Treasury 1,095,736 389,846 1,175,006 560,378 2,037,974 538,291 -938,363 7,889,491 802,483 11,203,936 1,183,846 25,938,624 Cash held by Trustee 2,753 7,570 652 2,057 1,440 3,412 3,858 2,573 1,831,021 698 3,108,553 4,964,589 Total cash as of 6/30/2024 1,098,489 397,416 1,175,658 562,436 2,039,414 541,704 -934,505 7,892,065 2,633,504 11,204,635 4,292,399 30,903,214 Debt service payments through 12/31/2025
DS payments for FY 2024-25 5,504,675 1,447,931 2,239,056 4,129,280 3,932,700 4,956,444 5,798,950 10,437,900 1,755,463 12,926,355 2,811,850 55,940,604 DS payment for 7/15/2025 1,245,588 387,966 1,119,528 501,615 1,966,350 189,006 414,622 7,144,200 877,731 1,722,419 1,405,925 16,974,949 DS payment for 12/31/2025 - - - - - - - - - - - -
Bank and Bond expenses for FY 2024-25 12,500 8,500 8,500 8,500 12,000 8,500 8,000 8,500 8,500 8,500 8,500 100,500 Total debt service through 12/31/2025 6,762,763 1,844,397 3,367,084 4,639,395 5,911,050 5,153,950 6,221,572 17,590,600 2,641,694 14,657,274 4,226,275 73,016,053 Total DS Shortfall
5,664,274 1,446,981 2,191,426 4,076,959 3,871,636 4,612,246 7,156,077 9,698,535 8,189 3,452,639 (66,124) 42,112,839 Add: Reserve of DS at 6.00% 330,281 86,876 134,343 247,757 235,962 297,387 347,937 626,274 105,328 775,581 168,711 3,356,436 Unsecured Roll (Prior Year's Rate) FY 2023-24 (162,158) (66,771) (109,695) (195,544) (190,775) (267,084) (85,849) (629,556) (81,556) (734,005) (109,695) (2,632,690) Add: Projected delinquencies, unsecured roll
at
6.48%
10,508
4,327
7,108
12,671
12,362
17,307
5,563
40,795
5,285
47,564
7,108
170,598
Less: Unitary Tax collected as of FY 2023-24 (428,701) (176,524) (290,004) (516,963) (504,354) (706,096) (226,959) (1,664,369) (37,246) (1,940,503) 0 (6,491,718) Balance to be levied on tax roll 5,414,203 1,294,889 1,933,179 3,624,880 3,424,832 3,953,760 7,196,769 8,071,679 0 1,601,276 0 36,515,466 Assessed Valuation (1) 83,041,997,549 83,041,997,549 83,041,997,549 83,041,997,549 83,041,997,549 83,041,997,549 83,041,997,549 83,041,997,549 83,041,997,549 83,041,997,549 83,041,997,549 83,041,997,549 Secured tax rate (2) 0.0065% 0.0016% 0.0023% 0.0044% 0.0041% 0.0048% 0.0087% 0.0097% 0.0000% 0.0019% 0.0000% 0.0440% Prior year's secured tax rate 0.0034% 0.0014% 0.0023% 0.0041% 0.0040% 0.0056% 0.0018% 0.0132% 0.0017% 0.0154% 0.0023% 0.0552% Variance 0.0031% 0.0002% 0.0000% 0.0003% 0.0001% -0.0008% 0.0069% -0.0035% -0.0017% -0.0135% -0.0023% -0.0112% Note: Totals may not add up due to
rounding.
(1) AV is net of 1.77% in secured roll delinquencies.
(2) Expected Unitary Tax Revenue for FY 2024-25 not factored into the secured tax rate given the uncertainty of the value of receipt; it will be taken into account for FY 2025-26 tax roll once the monies from the County are received.
Delinquency Calculation
Unsecured roll (Net AV plus Homeowner's 4,769,365,621 4,769,365,621 4,769,365,621 4,769,365,621 4,769,365,621 4,769,365,621 4,769,365,621 4,769,365,621 4,769,365,621 4,769,365,621 4,769,365,621 4,769,365,621 Prior year's tax rate 0.0034% 0.0014% 0.0023% 0.0041% 0.0040% 0.0056% 0.0018% 0.0132% 0.0017% 0.0154% 0.0023% 0.0552% 162,158 66,771 109,695 195,544 190,775 267,084 85,849 629,556 81,556 734,005 109,695 2,632,690 Prior year's delinquency rate, unsecured roll 6.48% 6.48% 6.48% 6.48% 6.48% 6.48% 6.48% 6.48% 6.48% 6.48% 6.48% 6.48% Projected delinquencies, unsecured roll 10,508 4,327 7,108 12,671 12,362 17,307 5,563 40,795 5,285 47,564 7,108 170,598