Written materials relating to an item on this agenda that are distributed to the legislative bodies within 72 hours before the item is to be considered at its regularly scheduled meeting will be made available for public inspection at the City Clerk’s Office, 300 West Third Street 4th Floor during customary business hours. Agenda reports are also on the City of Oxnard web site at www.oxnard.org.
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Agenda Item Time Estimates include: (Minutes for Presentation + Council Discussion + Public Comment)
AGENDA
OXNARD CITY COUNCIL
FINANCE AND GOVERNANCE COMMITTEE
Council Chambers, 305 West Third Street
September 24, 2024
Regular Meeting - 5:00 to 6:30 PM
Zoom details to call-in for public comment during a meeting:
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IN ACCORDANCE WITH ASSEMBLY BILL 2449, MEMBERS OF THE LEGISLATIVE BODY MAY MEET IN-PERSON OR REMOTELY. TO PARTICIPATE REMOTELY VISIT WWW.OXNARD.ORG.
To find out how you may provide public comment, please refer to the instructions below or at www.https://www.oxnard.org/city-meetings/.
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*Please see the link for the Measure M pre-recorded presentation video for each item listed on this agenda.
YOU MAY PARTICIPATE IN THE MEETING IN THE FOLLOWING WAYS:
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2. EMAIL COMMENTS OR SIGN UP TO SPEAK REMOTELY BEFORE THE MEETING
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c. Contact the City Clerk’s Office at (805) 385-7803 to submit your request.
3. PROVIDING PUBLIC COMMENTS REMOTELY DURING THE MEETING
a. Follow Zoom details listed above.
1 OXNARD CITY COUNCIL: FINANCE & GOVERNANCE COMMITTEE
September 24, 2024 - Page 2
b. Public comments on agenda items will be taken following the announcement of the item. After the item is announced, members of the public may register or otherwise be recognized for the purpose of providing public comment.
Please review the Zoom instructions on the registration page to help ensure there are no technical difficulties during your comments and help you understand public comment procedures using Zoom. Detailed participation instructions can be found at www.oxnard.org/city-meetings.
In the event of a disruption which prevents a legislative body of the City of Oxnard from broadcasting a meeting using a call-in option or internet- based service option, or in the event of a disruption within the City’s control which prevents members of the public from offering public comment using the call-in option or internet-based service option, the legislative body shall take no further action on items appearing on a meeting agenda until public access to the meeting via the call-in option or internet-based service option is restored. However, if any of the broadcast options are disrupted, but any of the other broadcast options is still available to the public, the legislative body may take further action on items appearing on a meeting agenda without waiting for the disrupted broadcast option(s) to be restored.
A. ROLL CALL, POSTING OF AGENDA, FLAG SALUTE
Consideration of Teleconference Participation pursuant to Assembly Bill 2449.
B. PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA
A person may address the legislative body only on matters not appearing on the agenda and within the subject matter jurisdiction of the legislative body. Speaker requests shall be submitted as set forth on the first page of this agenda. Speakers are limited to three minutes. After 30 minutes, if all speakers have not had the opportunity to speak, the remaining speakers will be given an opportunity to speak prior to adjournment of the meeting. The legislative body cannot enter into a detailed discussion or take action on any items presented during public comments at this time. Such items may only be referred to the City Manager/Executive Director/Secretary for administrative action or scheduled on a subsequent agenda for discussion. Persons wishing to speak on public hearing items should do so at the time of the hearing.
C. CONSENT AGENDA
1. City Clerk Department
SUBJECT: Approval of Minutes.
RECOMMENDATION: That the Finance & Governance Committee approve the minutes of the July 23, 2024 regular meeting as presented.
Contact: Rose Chaparro, (805) 385-7805
D. REPORTS
1. City Manager Department
SUBJECT: Restatement of City and Successor Agency Capital Assets. (10 minutes)
RECOMMENDATION: That the Finance and Governance Committee recommends that the City Council receives and files a report on the Restatement of City and Oxnard Community Development Commission Successor Agency (Successor Agency) Capital Assets.
Please click the following link to view the required Measure M pre-recorded presentation video: https://youtu.be/fWoc_5zo__8
Contact: Alexander Nguyen, (805) 385-7430
E. ITEMS FOR FUTURE AGENDAS
F. ADJOURNMENT
2 FINANCE AND GOVERNANCE COMMITTEE
AGENDA REPORT
CONSENT AGENDA
AGENDA ITEM NO. C.1
DATE: September 24, 2024
TO: Finance & Governance Committee
FROM: Rose Chaparro, City Clerk, (805) 385-7805, [email protected]
SUBJECT: Approval of Minutes.
RECOMMENDATION
That the Finance & Governance Committee approve the minutes of the July 23, 2024 regular meeting as presented.
BACKGROUND
Approval of Minutes.
STRATEGIC PRIORITIES
This agenda item is a routine operational item.
FINANCIAL IMPACT
There is no financial impact.
Prepared by: Rose Chaparro, City Clerk
ATTACHMENTS
1. MINUTES 07 23 2024 Finance & Governance
3 MINUTES
OXNARD CITY COUNCIL
FINANCE AND GOVERNANCE COMMITTEE
Regular Meeting
July 23, 2024
A. ROLL CALL, POSTING OF AGENDA, FLAG SALUTE
At 5:01 p.m., Chair John C. Zaragoza called to order the regular meeting of the Oxnard City Council Finance and Govern ance Committee in the City Hall Council Chambers at 305 W. Third Street, Oxnard, California. The Assistant City Clerk called the roll and announced the posting of the a genda. Chair John C. Zaragoza and Member Gabriela Basua were present in person. Member Gabriel (Gabe) Teran participated virtually.
CONSIDERATION OF TELECONFERENCE PARTICIPATION PURSUANT TO ASSEMBLY BILL 2449.
During this meeting, Councilmember Teran will be participating remotely from the following location: Holiday Inn Sacramento, 300 J Street, Sacramento, CA 95814.
B. PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA
Public comments were received from Ray Blattel (does not receive responses from the CFO and Council to his finance questions.
C. CONSENT AGENDA
1. City Clerk Department
SUBJECT: Approval of Minutes.
RECOMMENDATION: That the Finance & Governance Committee approve the minutes of the July 9, 2024 regular meeting as presented.
It was moved by Member Basua, seconded by Member Teran, to ap prove the Information/Consent item as presented. VOTE: Basua, Teran, and Zaragoza voted in favor; the motion passed 3-0.
D. REPORTS
1. Finance Department
SUBJECT: Implementation of the City’s Fiscal Year 2024-2025 $20 million payment for Long Term Debt Reduction for Pension and OPEB.
RECOMMENDATION: That the Finance and Governance Committee recommend City Council:
1. Direct staff to make an Additional Discretionary Payment (ADP) to CalPERS in the amount of $15 million toward the City’s Unfunded Actuarial Liability (UAL). 4 July 23, 2024 OXNARD CITY COUNCIL PAGE 2
FINANCE & GOVERNANCE COMMITTEE
2. Direct staff to create one Internal Revenue Service (IRS) Code Section 115 Trust for Pension and one for Other Post-Employment Benefits (OPEB).
3. Direct staff to fund the Pension 115 Trust with the initial amount of $2.5 million and to fund the OPEB 115 Trust with an initial contribution of $2.5 million.
Javier Chagoyen -Lazaro, Chief Financial Officer presented and answered the Committee ’s questions. No public comments were received. Discussion ensued among the Committee and staff.
It was move d by Member Basua, seconded by Member Teran, to approve the r ecommended action as presented. VOTE: Basua, Teran, and Zaragoza voted in favor; the motion carried 3-
0. 2. Finance Department
SUBJECT: Fifth Amendment to Tyler Technologies, Inc. for an ERP Software as a Service Agreement (A-8767), Extending the Contract for a New Five-Year Term, Expiring October 31, 2029.
RECOMMENDATION: That the Finance and Governance Committee recommend that City Council approve and authorize the City Manager to execute a Fifth Amendment with Tyler Technologies, Inc. for an Enterprise Resource Planning (ERP) Software as a Service (SaaS) Agreement for a First Renewal for a Five-Year Term for an Amount Not to Exceed $5,450,000.
Mark Sewell, Assistant Chief Financial Officer presented and answered the Committee’s questions. No public comments were received. Discussion ensued among the Committee and staff.
It was moved by Member Basua, seconded by Member Teran, to approve the r ecommended action as presented. VOTE: Basua, Teran, and Zaragoza vot ed in favor; the motion carried 3-0.
E. ITEMS FOR FUTURE AGENDAS (No requests were made.)
F. ADJOURNMENT
There being no further business on the agenda, and without objec tion, Chair Za ragoza adjourned the meeting at 5:20 p.m.
ROSE CHAPARRO JOHN C. ZARAGOZA
City Clerk Chair
5 FINANCE AND GOVERNANCE COMMITTEE
AGENDA REPORT
REPORTS
AGENDA ITEM NO. D.1
DATE: September 24, 2024
TO: Finance & Governance Committee
FROM: Alexander Nguyen, City Manager, (805) 385-7430, [email protected]
SUBJECT: Restatement of City and Successor Agency Capital Assets. (10 minutes)
RECOMMENDATION
That the Finance and Governance Committee recommends that the City Council receives and files a report on the Restatement of City and Oxnard Community Development Commission Successor Agency (Successor Agency) Capital Assets.
Please click the following link to view the required Measure M pre-recorded presentation video: https://youtu.be/fWoc_5zo__8
BACKGROUND
The Successor Agency has reached an important milestone in the winding down of the affairs of the City’s former redevelopment agency, the Oxnard Community Development Commission. With corrective capital asset actions to be reported in the City’s 2024 Annual Comprehensive Financial Report (ACFR), the Successor Agency completes the disposition of its capital assets portfolio and remains on track to sunset upon the scheduled amortization of its remaining bond and development payment obligations.
In 2023, the Successor Agency completed the disposition of its legally titled real property as authorized in the Successor Agency’s Long Range Property Management Plan (LRPMP) and as approved by the State Department of Finance and the Ventura County Consolidated Oversight Board (VCCOB).
However, after recording the final disposition of legally titled Successor Agency capital assets, analysis of the remaining capital asset and project accounting records determined that a list of forty-nine (49) records representing $28 million in capitalization accounting entries have been reported in the Successor Agency’s annual financial statements, the ACFR, since the 2012 redevelopment agency dissolution.
Specifically, the former redevelopment agency’s pre-dissolution contributions to improvements to City property were not filtered from the Successor Agency general ledger accounts at the time of the 2012 dissolution and the Successor Agency’s corresponding split from the City’s financial reporting entity. These improvements to City property were incorrectly reported as Successor Agency capital assets instead of City capital assets. As a result, the Successor Agency's capital asset records have been overstated, and the City’s capital assets have been understated since 2012.
In late 2023 and into 2024, City staff members analyzed and used their best efforts to research and validate the sources of the listed Successor Agency capital asset records to confirm the proper correcting accounting 6 treatment. City staff identified and examined general ledger project activity reports for each identified capital asset record. The project activity report provides insights into the original funding sources, including a detailed breakdown of all transactions associated with a project, encompassing invoice payments to vendors, labor costs, and other expenditures.
City staff research concluded that of the forty-nine (49) remaining Successor Agency asset records, twenty- seven (27) records with a current book value of $17.8 million represented pre-dissolution redevelopment agency expenditures that were contributions/improvements to City property. These improvements include Cypress Park improvements, Saviers Road improvements, and Southwinds basketball courts. These assets will be reclassified as City assets in the 2024 ACFR by a correction and restatement of the City’s Beginning Net Position.
An additional twenty-two (22) remaining Successor Agency asset records, with a book value of $10.8 million, lacked clear documentation from the available project budget and activity reports. The source project expenditures occurred several decades before the 2012 redevelopment dissolution, and conclusive information about some project expenditures is no longer readily available. While these pre-dissolution redevelopment agency expenditures were possibly or even probably contributions to City infrastructure, the 2024 correcting accounting entries err on the side of caution. These assets will be removed from the Successor Agency accounts but will not be reclassified as City assets because of inconclusive information.
With these restatements, the 2024 ACFR will resolve and clear misclassified capital assets from the Successor Agency financial records. The restatements have no monetary compensation since the redevelopment agency expenditures were appropriated as contributions/improvements to City property in the original year of expenditure.
The proposed accounting corrections are administrative in nature and are not subject to approval by the VCCOB since they correct accounting entries that originated prior to the 2012 redevelopment agency dissolution. While the VCCOB holds authority over the post-dissolution disposition of Successor Agency property, the Successor Agency does not hold title to any remaining property for the VCCOB to approve. The proposed correction instead brings internal erroneous accounting records into sync with the VCCOB’s approved LRPMP.
STRATEGIC PRIORITIES
This agenda item supports the Organizational Effectiveness strategy. The purpose of the Organizational Effectiveness strategy is to reinforce, stabilize, improve, and strengthen the organizational foundation of the City in order to build a modern, high-functioning City government that effectively and efficiently supports the operating departments in providing high-quality services and programs for our residents and businesses.
FINANCIAL IMPACT
The 2024 ACFR will update and correct the beginning net positions of the City and Successor Agency by removing $28 million in misclassified capital assets from the Successor Agency and by adding $17.8 million of these assets to the City capital asset balance. This action will bring the Successor Agency’s internal general ledger financial records and published external financial statements into sync with the State and VCCOB- approved LRPMP. By clearing these misclassified capital assets from its financial reports, the Successor Agency completes another milestone in the State mandate to wind down the affairs of the former redevelopment agency.
Prepared by: Adam Smith, Project Manager, Beth Vo, Assistant Chief Financial Officer
ATTACHMENTS
7 1. Attachment 1 - Successor Agency Capital Record Corrections
2. Attachment 2 - 2023-24 Draft ACFR Footnote Disclosure - Prior Period Adjustment - Capital Assets
3. Presentation
8 Item Project #Description Subclass Date Gross Book Value LTD Accum Depr Current Book Value Item Project # Description Subclass Date Gross Book Value LTD Accum Depr Current Book Value 1 018201 DOWNTOWN LIGHTING PROJECT IOB 01/30/03 4,372.67 2,239.28 2,133.39 1 SOUTHWINDS STREET LIGHTNING IOB 01/30/03 1,376.82 705.09 671.73 2 038201 PARKING STRUCTURE B STREET IOB 01/30/03 429,000.00 219,694.34 209,305.66 2 015704 PLAZA PARK IMPROVEMENTS IOB 01/30/03 11,745.30 6,014.85 5,730.45 3 038202 DOWNTOWN THEATER PROJECT IOB 01/30/03 1,995,373.14 1,021,846.58 973,526.56 3 008601 HERO HOUSING REHABILITATION IOB 01/30/03 61,610.06 31,551.00 30,059.06 4 008401 ENTRYWAY AND MEDIAN IMPROVEMEN IOB 01/30/06 21,090.85 9,218.92 11,871.93 4 958602 SW ‐HOUSING FND OWNERSHIP PROGR IOB 01/30/03 80,000.00 40,968.65 39,031.35 5 038401 SOUTHWIND BASKETBALL COURT (FA IOB 01/30/07 14,585.33 6,010.68 8,574.65 5 918601 REDEV/MOBILEHOME REPL PROGRAM IOB 01/30/03 122,399.49 62,681.75 59,717.74 6 098702 CYPRESS PARK IMPROVEMENT IOB 01/30/10 4,233,752.00 1,427,210.06 2,806,541.94 6 018602 SOUTHWINDS REHAB IOB 01/30/03 150,663.28 77,155.88 73,507.40 7 048204 CENTRAL BUS DIST STREETSCAPE IOB 01/30/11 4,136,817.99 1,291,110.70 2,845,707.29 7 ORMOND BEACH ‐ IMPROVEMENT IOB 01/30/04 27,129.00 13,214.73 13,914.27 8 958201 SIGN/IMAGE REHAB PROJ #958201 IOB 01/30/12 94,622.56 27,166.31 67,456.25 8 Res. 14,281 (p. 14) SOUTHWIND PROJECT ‐ IMPROVEMEN IOB 01/30/04 53,761.00 26,187.36 27,573.64 9 063111 HERO ROSE PARK RESURF #063111 IOB 01/30/12 1,153,248.62 331,099.86 822,148.76 9 HERO PROJECT ‐ IMPROVEMENT IOB 01/30/04 65,103.00 31,712.12 33,390.88 10 113105 CYPRESS GARDENS RESURFACE IOB 01/30/14 127,111.96 30,138.37 96,973.59 10 HOUSING SET ASIDE ‐ IMPROVEMEN IOB 01/30/04 275,942.00 134,413.30 141,528.70 11 048202 SW SECURITY LIGHT/FENCING IOB 01/30/17 353,823.53 114,721.14 239,102.39 11 CCRP ‐ IMPROVEMENTS IOB 01/30/04 985,035.00 479,817.52 505,217.48 12 088701 HERO BUS. FACADE IMPRVEMT IOB 01/30/17 354,288.38 51,048.50 303,239.88 12 015704 PLAZA PARK IMPROVEMENTS IOB 01/30/07 12,000.00 4,945.26 7,054.74 13 028301 DOWNTOWN FACADE IMPROVEMT IOB 01/30/17 457,587.02 65,932.52 391,654.50 13 068602 SOUTHWINDS BUILDING RENOVATION IOB 01/30/10 33,853.80 11,412.22 22,441.58 14 018702 SAVIERS RD. MEDIAN LANDSC IOB 06/30/18 295,372.00 36,820.30 258,551.70 14 958406 LANDSCAPE GRAFFITI ABATEMENT IOB 01/30/10 63,379.48 21,365.42 42,014.06 15 015401 SO OXNARD LIBRARY 2000 #015401 BLD 01/30/12 97,202.93 24,806.56 72,396.37 15 PARK EXPANSION/IMPROVEMENT IOB 01/30/11 31,304.82 9,770.33 21,534.49 16 2000 Dodge Grand Caravan SE Ch VEH 01/01/00 22,685.00 22,685.00 ‐ 16 Res. 14,281 (p. 16‐25) FACADE IMPROVEMENT PROGRAM IOB 01/30/11 79,251.65 24,734.64 54,517.01 17 018702 SAVIERS RD MEDIAN LANDSCAPE R&S 01/30/03 44,431.20 22,753.56 21,677.64 17 PARKING LOT RESURFACE IOB 01/30/11 469,008.91 146,378.82 322,630.09 18 008501 ORMOND BEACH MEDIAN IMPROVEMEN R&S 01/30/03 89,802.00 45,988.33 43,813.67 18 CAPITALIZED INTEREST FAS7584 IOB 01/30/16 1,174,211.25 219,695.18 954,516.07 19 028601 PERKINS ROAD RESURFING R&S 01/30/03 90,130.92 61,544.65 28,586.27 19 305 & 350 S. OXNARD BLVD. BLD 01/01/57 119,000.00 119,000.00 ‐ 20 008501 ORMOND BEACH MEDIAN IMPROVEMEN R&S 01/30/06 207,397.21 90,654.45 116,742.76 20 VARIOUS RDA BUILDING PROJECTS BLD 01/30/93 689,433.00 467,046.11 222,386.89 21 938401 COURTLAND STREET R&S 01/30/10 438,195.36 147,716.94 290,478.42 21 Computer 8570, Printer 4216 & IT 01/01/90 11,328.00 11,328.00 ‐ 22 098703 SO OXNARD MEDIAN PHASE 2 R&S 01/30/11 677,534.24 211,460.06 466,074.18 22 VARIOUS RDA INFRASTRUCTURE (CA R&S 01/30/99 21,317,280.73 13,048,582.27 8,268,698.46 23 093111 SAVIERS RD IMPROVEMENT R&S 01/30/12 3,627,007.93 1,041,320.78 2,585,687.15 25,834,816.59 14,988,680.50 10,846,136.09 24 018201 DOWNTOWN LIGHTING PROJECT R&S 01/30/15 651,105.53 220,971.13 430,134.40 25 873114 HWY 101‐RICE INTERCHANGE R&S 01/30/15 1,028,356.23 218,114.97 810,241.26 26 078401 SOUTHWIND STREET PROJECTS R&S 01/30/15 3,001,870.53 636,698.53 2,365,172.00 27 078501 ORMOND BEACH STREET PROJECTS R&S 01/30/17 1,934,077.09 418,030.73 1,516,046.36 25,580,842.22 7,797,003.25 17,783,838.97
BLD Buildings and Facilities
IOB Improvements other than Buildings
IT Computer hardware
R&S Roadways and Streets
VEH Vehicles
Restatement Write‐Off
Subclass Legend
ATTACHMENT 1
9 ATTACHMENT 2
City of Oxnard
2024 ACFR Footnote Disclosure
Restatement of Beginning Balance (Capital Assets)
The beginning net posi ons for the City’s governmental ac vi es on the Government-wide Statement of Net Posi on and the Oxnard Community Development Commission Successor Agency (Successor Agency) Private Purpose Fiduciary Fund have been restated to correct the value of capital assets. Successor Agency capital assets, as of June 30, 2023, have been reduced by $28,629,975.06 to remove assets disposed of or capitalized in prior years. The Successor Agency has completed the implementa on of its Long-Range Property Management Plan (LRPMP) as approved by the Ventura County Consolidated Oversight Board and the State of California Department of Finance. All Successor Agency property has been disposed of. This restatement of capital assets corrects and aligns the Successor Agency’s financial repor ng records with the LRPMP by removing out-of-date capital asset records. A por on of the Successor Agency's corrected capital asset value has been iden fied as pre-2012 redevelopment dissolu on improvements to City infrastructure. Accordingly, $17,783,838.97 of this Successor Agency correc on has been added to the governmental ac vi es capital assets on the City’s Government-wide Statement of Net Posi on.
10 Restatement of City and Successor
Agency Capital Assets
Finance & Governance Committee, September 24, 2024
Adam Smith, Project Manager
City Manager’s Office
That the Finance and Governance Committee
recommends that the City Council receives and files a
report on the Restatement of City and Oxnard
Community Development Commission Successor
Agency (Successor Agency) Capital Assets
RECOMMENDATION 2
11 • The Successor Agency has reached an important
milestone in the winding down of the affairs of the City’s former redevelopment agency, the Oxnard Community
Development Commission
• In 2023, the Successor Agency completed the disposition of its legally titled real property as authorized in the Successor Agency’s Long Range Property Management
Plan (LRPMP) and as approved by the State Department
of Finance and the Ventura County Consolidated
Oversight Board (VCCOB)
BACKGROUND 3
• Analysis of the Finance Department’s remaining capital asset accounting records determined that a list of forty-nine (49) records representing $28 million in capitalization accounting entries have been reported in the Successor Agency’s annual financial statements• The former redevelopment agency’s pre-dissolution contributions to improvements to City property were not filtered from the Successor Agency general ledger accounts at the time of the 2012 dissolution• These improvements to City property were incorrectly reported as Successor Agency capital assets instead of City capital assets. As a result, the Successor Agency's capital asset records have been overstated, and the City’s capital assets have been understated since 2012 BACKGROUND 4
12 • In late 2023 and into 2024, City staff members analyzed and used their best efforts to research and validate the sources of the listed Successor Agency capital asset
records to confirm the proper correcting accounting
treatment
• City staff identified and examined general ledger project activity reports for each identified capital asset record BACKGROUND 5
• City staff research concluded that of the forty-nine (49) remaining Successor Agency asset records, twenty-seven
(27) records with a current book value of $17.8 million represented pre-dissolution redevelopment agency
expenditures that were contributions/improvements to
City property
• These assets will be reclassified as City assets in the 2024 Annual Comprehensive Financial Report (ACFR) by
a correction and restatement of the City’s Beginning Net Position
BACKGROUND 6
13 • An additional twenty-two (22) remaining Successor Agency asset records, with a book value of $10.8 million, lacked clear documentation • Expenditures occurred several decades before the 2012 redevelopment dissolution • These expenditures were possibly or even probably contributions to City infrastructure, the 2024 correcting accounting entries err on the side of caution• These assets will be removed from the Successor Agency accounts but will not be reclassified as City assets because of inconclusive information BACKGROUND 7
• The 2024 ACFR will resolve and clear misclassified capital assets from the Successor Agency financial records • The restatements have no monetary compensation since the Redevelopment Agency expenditures were appropriated as contributions/improvements to City property in the original year of expenditure• The proposed accounting corrections are administrative in nature and are not subject to approval by the VCCOB since they correct accounting entries that originated prior to the 2012 redevelopment agency dissolution BACKGROUND 8
14 • The 2024 ACFR will update and correct the beginning net positions of the City and Successor Agency by
removing $28 million in misclassified capital assets
• $17.8 million of these assets will be added to the City capital asset balance
• Successor Agency’s internal general ledger financial
records and published external financial statements will now be in sync with the State and VCCOB-approved
LRPMP
FINANCIAL IMPACT 9
That the Finance and Governance Committee
recommends that the City Council receives and files a
report on the Restatement of City and Successor
Agency Capital Assets
RECOMMENDATION 10
15 THE END
11 16