Paramount City Council
February 13, 2024

Agenda
City Council
February 13, 2024
Regular Meeting - City Hall Council Chamber - 6:00 p.m. 16400 Colorado Avenue Paramount, CA 90723 (562) 220-2000 www.paramountcity.com

PUBLIC PARTICIPATION NOTICE
In-person Attendance: The public may attend the City Council meetings in-person.

View the City Council meeting live stream:
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Public Comments: Members of the public wanting to address the City Council, either during public comments or for a specific agenda item, or both, may do so by the following methods:
• In-Person
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E-mail public comments must be received by 15 minutes prior to the start of the meeting. The e-mail should specify the following information: 1) Full Name; 2) City of Residence; 3) Phone Number; 4) Public Comment or Agenda Item No; 5) Subject; 6) Written Comments.

All public comments are limited to a maximum of three (3) minutes unless an extension is granted. No action may be taken on items not on the agenda except as provided by law. All public comments will be recorded and rules of decorum and procedures for the conduct of City meetings will apply when addressing the City Council whether in-person, via email or by teleconference.

CALL TO ORDER: Mayor Isabel Aguayo

PLEDGE OF ALLEGIANCE
INVOCATION: Pastor Ken Korver, Emmanuel Church

ROLL CALL OF
COUNCILMEMBERS:

Councilmember Peggy Lemons
Councilmember Brenda Olmos
Councilmember Vilma Cuellar Stallings
Vice Mayor Annette C. Delgadillo
Mayor Isabel Aguayo
Agenda February 13, 2024
Regular Meeting City Council Page 2

PRESENTATIONS

1. VIDEO ADAPTIVE RECREATION PROGRAM ACTIVITIES

2. PRESENTATION MAYOR’S AWARD OF EXCELLENCE

3. PROCLAMATION NATIONAL CHILDREN’S DENTAL HEALTH MONTH

4. PROCLAMATION NATIONAL BLACK HISTORY MONTH

5. PRESENTATION GATEWAY CITIES COUNCIL OF GOVERNMENTS – GOLD

ENERGY ACTION AWARD

6. PRESENTATION GOVERNMENT FINANCE OFFICERS ASSOCIATION (GFOA)

ANNUAL COMPREHENSIVE FINANCIAL REPORT AWARD FOR
FISCAL YEAR 2021 – 2022

CITY COUNCIL PUBLIC COMMENT UPDATES

PUBLIC COMMENTS

CONSENT CALENDAR
All items under the Consent Calendar may be enacted by one motion. Any item may be removed from the Consent Calendar and acted upon separately by the City Council.

7. APPROVAL MINUTES OF JANUARY 23 (WORKSHOP), JANUARY 23 (REGULAR), JANUARY 30 (SPECIAL), AND JANUARY 30, 2024
(CITY/PUSD JOINT MEETING)
Recommended Action: Approve the City Council meeting
minutes of January 23 (Workshop), January 23 (Regular), January 30 (Special) and January 30, 2024 (City/PUSD Joint Meeting).

8. APPROVAL REGISTER OF DEMANDS – JANUARY 2024 (CITY)
Recommended Action: Approve the Register of Demands.

9. RECEIVE AND FILE TREASURER’S REPORT FOR THE QUARTER ENDING DECEMBER 31, 2023
Recommended Action: Receive and file the Treasurer’s Report.

Agenda February 13, 2024
Regular Meeting City Council Page 3

10. ORDINANCE
1181
AMENDING ORDINANCE NO. 178, THE COMPREHENSIVE
ZONING ORDINANCE, APPROVING ZONE CHANGE NO. 245,

CHANGING THE OFFICIAL ZONING MAP OF THE CITY OF
PARAMOUNT FROM C-3 (GENERAL COMMERCIAL) TO PD-PS
(PLANNED DEVELOPMENT WITH PERFORMANCE

STANDARDS)/SINGLE-FAMILY RESIDENTIAL TO ALLOW FOR
THE DEVELOPMENT OF 10 SINGLE-FAMILY HOMES AT 16261

ORIZABA AVENUE IN THE CITY OF PARAMOUNT
Recommended Action: Read by title only, waive further
reading, and adopt Ordinance No. 1181.

OLD BUSINESS

11. PUBLIC HEARING

ORDINANCE
1179
AMENDING CHAPTERS 8.040.010 AND 8.04.040 OF the

PARAMOUNT MUNICIPAL CODE REGARDING

INCORPORATION OF THE COUNTY HEALTH AND SAFETY
CODE
Recommended Action: Read by title only, waive further
reading, introduce Ordinance No. 1179, and place it on the next regular agenda for adoption.

12. PUBLIC HEARING

ORDINANCE
1180
AMENDING CHAPTERS 10.04.010 AND 10.04.020 OF THE

PARAMOUNT MUNICIPAL CODE REGARDING

INCORPORATION OF THE COUNTY TRAFFIC CODE
Recommended Action: Read by title only, waive further
reading, introduce Ordinance No. 1180, and place it on the next regular agenda for adoption.

NEW BUSINESS

13. APPROVAL AMENDMENT NO. 1 TO THE AGREEMENT WITH SOUTHWEST PATROL, INC. FOR NEIGHBORHOOD PATROL SERVICES
Recommended Action: Approve Amendment No. 1 to the
Agreement with Southwest Patrol, Inc. for private security patrol service from February 18, 2024 through June 30, 2024, in an amount not to exceed $110,880, and authorize the Mayor or her designee to execute the agreement.

14. ORDINANCE
1182
AMENDING SECTIONS 10.48.040, 10.48.050(C), 10.48.050(D),

10.48.120(A) AND ADDING A DEFINITION TO SECTION

10.48.020 OF TITLE 10 OF THE PARAMOUNT MUNICIPAL CODE

INVOLVING MOTOR VEHICLE SPEED CONTESTS OR

EXHIBITIONS OF SPEED
Recommended Action: Read by title only, introduce Ordinance No. 1182 and place it on the February 27, 2024 agenda for adoption.

15. ORAL REPORT 2023 ANNUAL UNIFORM CRIME REPORT
Recommended Action: N/A
Agenda February 13, 2024
Regular Meeting City Council Page 4

16. ORAL REPORT PUBLIC SAFETY RESIDENT SATISFACTION SURVEY 2023 Recommended Action: N/A

17. PUBLIC HEARING

RESOLUTION
24:004
GENERAL PLAN AMENDMENT 24-1

CHANGING THE GENERAL PLAN LAND USE DESIGNATION

FROM CENTRAL INDUSTRIAL DISTRICT TO MULTIPLE-FAMILY
RESIDENTIAL FOR THE PROPERTIES AT 15529 COLORADO

AVENUE AND OTHER NEARBY PROPERTIES ON THE SAME

BLOCK IN THE R-M (MULTIPLE-FAMILY RESIDENTIAL) ZONE
Recommended Action: Read by title only and adopt Resolution No. 24:004.

18. RECEIVE AND FILE ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR) FOR FISCAL YEAR ENDED JUNE 30, 2023
Recommended Action: Receive and file the Annual
Comprehensive Financial Report for Fiscal Year Ended June 30, 2023.

19. APPROVAL TRAFFIC CONTROL PLAN FOR 5K/1K EVENT AND CONTRACT

FOR TRAFFIC CONTROL SERVICES
Recommended Action:

A. Approve the proposed traffic control plan for the 5K/1K event.

B. 1) Appropriate an additional $9,050 from the available General Fund Balance; and 2) Award the contract for the Traffic Control Services to Statewide Traffic Safety and Signs, Inc. DBA Statewide Safety Systems, Santa Ana,
California, in the amount of $55,355, and authorize the Mayor or her designee to execute the agreement.

20. APPROVAL AGREEMENT WITH VIDIFLO, LLC FOR AUDIO SYSTEM

RENOVATION AT THE PARAMOUNT PARK GYMNASIUM
Recommended Action: Approve the agreement with Vidiflo, LLC in the amount of $47,435 for the renovation of the audio system at the Paramount Park Gymnasium and authorize the City Manager to execute the agreement.

21. RESOLUTION
24:003

APPROVING APPLICATIONS FOR SPECIFIED GRANT FUNDS
Recommended Action: Read by title only and adopt Resolution No. 24:003.

22. APPROVAL CITY COUNCIL AD HOC COMMITTEE ON COMMUNITY

AESTHETICS
Recommended Action: 1) Create a City Council Ad Hoc
Committee on Community Aesthetics; and 2) Approve the
Mayor’s appointment of two members of the City Council to this Ad Hoc Committee.

Agenda February 13, 2024
Regular Meeting City Council Page 5

SUCCESSOR AGENCY FOR THE PARAMOUNT REDEVELOPMENT AGENCY - CONSENT

CALENDAR
SA1. APPROVAL REGISTER OF DEMANDS – JANUARY 2024 (SUCCESSOR

AGENCY)
Recommended Action: Approve the Successor Agency
Register of Demands.

CLOSED SESSION

ADJOURNMENT
To a meeting on February 27 2024 at 5:00 p.m. in the Council Chamber at City Hall, 16400 Colorado Ave., Paramount, CA
Americans with Disabilities Act: In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the City Clerk’s office at (562) 220-2225 at least 48 hours prior to the meeting to enable the City to make reasonable arrangements to ensure accessibility to this meeting.

Note: Physical hard copies of agenda items are on file in the City Clerk’s office and are available for public inspection during normal business hours. Materials related to an item on this Agenda submitted after distribution of the agenda packet are also available for public inspection during normal business hours in the City Clerk’s office. The office of the City Clerk is located at City Hall, 16400 Colorado Avenue, Paramount.

To: Honorable City Council
From: John Moreno, City Manager
By: Heidi Luce, City Clerk
Date: February 13, 2024
SUBJECT: ADAPTIVE RECREATION PROGRAM ACTIVITIES
A video highlighting recent Adaptive Recreation Program activities will be presented.

To: Honorable City Council
From: John Moreno, City Manager
By: Heidi Luce, City Clerk
Date: February 13, 2024
SUBJECT: MAYOR’S AWARD OF EXCELLENCE
The Mayor’s Award of Excellence recognizes Paramount residents, businesses and nonprofit organizations that have gone to extraordinary lengths to have a significant impact on the lives of Paramount residents. At tonight’s meeting, the Mayor Aguayo will present the February 2024 Mayor’s Award of Excellence to Jon Tanklage, Marukan Vinegar.

To: Honorable City Council
From: John Moreno, City Manager
By: David Johnson, Community Services
Director
Date: February 13, 2024
SUBJECT: NATIONAL CHILDREN’S DENTAL HEALTH MONTH
The City Council will proclaim February as National Children’s Dental Health Month in the City of Paramount.

To: Honorable City Council
From: John Moreno, City Manager
By: David Johnson, Community Services
Director
Date: February 13, 2024
SUBJECT: NATIONAL BLACK HISTORY MONTH
The City Council will proclaim February as National Black History Month in the City of Paramount.

To: Honorable City Council
From: John Moreno, City Manager
By: Heidi Luce, City Clerk
Date: February 13, 2024
SUBJECT: GATEWAY CITIES COUNCIL OF GOVERNMENTS – GOLD ENERGY

ACTION AWARD
Gateway Cities Council of Governments will present the City with the 2023 Gold Energy Action Award.

To: Honorable City Council
From: John Moreno, City Manager
By: Kim Sao, Finance Director
Date: February 13, 2024
SUBJECT: GOVERNMENT FINANCE OFFICERS ASSOCIATION (GFOA) ANNUAL

COMPREHENSIVE FINANCIAL REPORT AWARD FOR FISCAL YEAR
2021 – 2022
Frances Kuo, Partner, from the The Pun Group LLP, will present the award to the City Council.

To: Honorable City Council
From: John Moreno, City Manager
By: Heidi Luce, City Clerk
Date: February 13, 2024
SUBJECT: MINUTES OF JANUARY 23 (WORKSHOP), JANUARY 23 (REGULAR), JANUARY 30 (SPECIAL), AND JANUARY 30, 2024 (CITY/PUSD JOINT

MEETING)

BACKGROUND
The City Council meeting minutes are prepared by the City Clerk and presented to the City Council for review and approval.

DISCUSSION
The City Council meeting minutes of January 23 (Workshop), January 23 (Regular), January 30 (Special) and January 30, 2024 (City/PUSD Joint Meeting) are attached for review and approval.

FISCAL IMPACT
None.

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 6: Efficient, Effective, and Fiscally Responsible - Deliver an efficient and effective City government in a fiscally responsible, transparent and collaborative manner.

RECOMMENDED ACTION
Approve the City Council meeting minutes of January 23 (Workshop), January 23 (Regular), January 30 (Special) and January 30, 2024 (City/PUSD Joint Meeting).

PARAMOUNT CITY COUNCIL

MINUTES OF AN ADJOURNED MEETING
JANUARY 23, 2024
City of Paramount, 16400 Colorado Avenue, Paramount, CA 90723 CALL TO ORDER: The adjourned meeting of the Paramount City Council was called to order by Mayor Isabel Aguayo at 10:13
a.m. in the Auditorium at Progress Park Plaza, 15500
Downey Avenue, Paramount, California.

PLEDGE OF
ALLEGIANCE:

Councilmember Cuellar Stallings led the pledge of
allegiance.

ROLL CALL OF
COUNCILMEMBERS:

Present: Councilmember Peggy Lemons
Councilmember Vilma Cuellar Stallings
Councilmember Brenda Olmos
Vice Mayor Annette C. Delgadillo
Mayor Isabel Aguayo
STAFF PRESENT: John Moreno, City Manager
Andrew Vialpando, Assistant City Manager
John Carver, Planning Director
Adriana Figueroa, Public Works Director
David Johnson, Community Services Director
Margarita Matson, Public Safety Director
Kim Sao, Finance Director
Clyde Alexander, Accounting and Budget Manager
Yecenia Guillen, Asst. Community Services Director
Sarah Ho, Assistant Public Works Director
Andres Gonzalez, Management Analyst
Heidi Luce, City Clerk
Pauline Jauregui, Comms. & Engagement Manager
Anthony Martinez, Finance Services Manager
Eric Wosick, Assistant Public Safety Director

PUBLIC COMMENTS
There were no public comments.

NEW BUSINESS

1. DISCUSSION
City Council Governance
and Goals workshop
CF
City Manager Moreno and Mike Shellito with Shellito
Training and Consulting facilitated an interactive
workshop on City Council governance and goals. The
workshop topics included:

Minutes of an Adjourned Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 2
• Principles & Practices of Good Governance (led
by Mr. Shellito)
• Review of 2023 Accomplishments (led by City
Manager Moreno)
• 2024 Departmental Goals & Operational Initiative
Priorities (led by City Manager Moreno)
• 2024 City Council Goals & Priorities (led by City
Manager Moreno)

ADJOURNMENT
There being no further business to come before the
City Council, Mayor Aguayo adjourned the meeting at
1:25 p.m. The next meeting will be held on January 23,
2024 at 5:00 p.m. in the Council Chamber at City Hall,
16400 Colorado Avenue, Paramount, CA 90723.

Isabel Aguayo, Mayor
ATTEST:

Heidi Luce, City Clerk
HTTPS://PARAMOUNTCITY1957.SHAREPOINT.COM/SITES/CITYMANAGERS/SHARED DOCUMENTS/CITY CLERK/AGENDA/MINUTES/2024 MINUTES/01-23-2023 MINUTESGOAL-CC.DOCX; 2/13/2024 7:19 PM

PARAMOUNT CITY COUNCIL

MINUTES OF A REGULAR MEETING
JANUARY 23, 2024
City of Paramount, 16400 Colorado Avenue, Paramount, CA 90723 CALL TO ORDER: The regular meeting of the Paramount City Council was called to order by Mayor Isabel Aguayo at 5:00
p.m. in the Council Chamber at City Hall, 16400
Colorado Avenue, Paramount, California.

PLEDGE OF
ALLEGIANCE:

Kiarra Ramos, Paramount High School Varsity Cheer,
led the pledge of allegiance.

INVOCATION: Pastor Beau Stephens, Chapel of Change delivered the invocation.

ROLL CALL OF
COUNCILMEMBERS:

Present: Councilmember Peggy Lemons
Councilmember Vilma Cuellar Stallings
Councilmember Brenda Olmos
Mayor Isabel Aguayo

Present: Vice Mayor Annette C. Delgadillo
It was moved by Councilmember Olmos and second
by Councilmember Lemos to excuse Vice Mayor
Delgadillo’s absence. The motion carried by the
following roll call vote:

AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None
STAFF PRESENT: John Moreno, City Manager
John E. Cavanaugh, City Attorney
Andrew Vialpando, Assistant City Manager
John Carver, Planning Director
Adriana Figueroa, Public Works Director
David Johnson, Community Services Director
Margarita Matson, Public Safety Director
Kim Sao, Finance Director
Clyde Alexander, Accounting and Budget Manager
Sol Bejarano, Management Analyst
Rafael Casillas, City Engineer
Danny Elizarraras, Management Analyst
Yecenia Guillen, Asst. Community Services Director
Minutes of a Regular Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 2
Andres Gonzalez, Management Analyst
Sarah Ho, Assistant Public Works Director
Pauline Jauregui, Comms. & Engagement Manager
Nicole Lopez, Human Resources Manager
Heidi Luce, City Clerk
Anthony Martinez, Finance Services Manager
Michelle Razo, Recreation Supervisor
Johnnie Rightmer, Building & Safety Manager
Celina Sanchez, Management Analyst
Magnolia Sandoval, Management Analyst
Melissa Torres, Communications Specialist
Eric Wosick, Assistant Public Safety Director

PRESENTATIONS

1. VIDEO
2023 Santa Train
CF 39.7
A video highlighting 2023 Santa Train was shown.

2. CERTIFICATE OF

RECOGNITION
Latinas Art Foundation
Dia De Los Muertos
Events
CF 39.6
Mayor Aguayo, on behalf of the City Council,
presented a certificate of recognition to Latinas Art
Foundation for their work on the Dia De Los Muertos
events.

3. PRESENTATION
Mayor’s Award of
Excellence
CF 39.8
Mayor Aguayo presented the Mayor’s Award of
Excellence to Jose Baca, SkillsetGroup. Mr. Baca was
present to accept the award and expressed sincere
appreciation for the recognition.

4. CERTIFICATES OF

RECOGNITION
Winter 2023 Special
Event Volunteers
CF 39.6
Mayor Aguayo, on behalf of the City Council,
presented certificates of recognition to the following
groups and organizations that volunteered at the City’s various Winter 2023 Special Events: Paramount High
School Cheer and Song, MUSA, and Paramount Teen
Leadership Alliance.

5. CERTIFICATE OF

RECOGNITION
2023 Holiday Home
Decorating Contest
Winners
CF 39.6
Mayor Aguayo, on behalf of the City Council,
recognized the 2023 Holiday Home Decorating
Contest winners.
• 1
st Place – 6523 San Mateo Street (Santo Family)
• 2
nd Place – 8519 Madison Street (Velasco Family)
• 3
rd Place – 14739 Jetmore Avenue
(Rodriguez Family)
Minutes of a Regular Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 3

6. PROCLAMATION
National Law
Enforcement
Appreciation Day
CF 39.12
Mayor Aguayo, on behalf of the City Council,
recognized National Law Enforcement Appreciation
Day. Lieutenant Morales, Sergeant Patino and
Deputies Sepulveda, Valenzuela, Macias, Van Der
Zanden and Rodriguez from the Paramount Sheriff’s
Station were present to accept the proclamation.

Mayor Aguayo recessed the meeting at 5:31 p.m. for a
brief break. The meeting was called back to order at
5:41 p.m. with all Councilmembers present except
Vice Mayor Delgadillo.

CITY COUNCIL PUBLIC COMMENT UPDATES
CF 10.4 There were no public comment updates.

PUBLIC COMMENTS
CF 10.3 There were no public comments.

CONSENT CALENDAR
It was moved by Councilmember Lemons and
seconded by Councilmember Cuellar Stallings to
approve Consent Calendar Items 7, 8, 9, 10, 11, 12,
and 13 as shown below. The motion was passed by
the following roll call vote:

AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None

7. APPROVAL OF

MINUTES
December 12, 2023
Approved.

8. APPROVAL
Register of Demands
CF 47.2
Approved.

9. ACCEPTANCE OF
WORK
Traffic Signal Installation
Improvements at Alondra
1) Appropriated an additional $52,000 from the
available Measure M funds; and 2) Accepted the work
performed by International Line Builders, Inc. DBA ILB
Electric, Corona, California for construction of the
Minutes of a Regular Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 4
Boulevard and Passage
Avenue (City Project No.
9232)
CIP 9232
installation of a traffic signal at the intersection of Alondra Boulevard and Passage Avenue (CIP 9232)
project and authorize payment of the remaining
retention.

10. RECEIVE AND FILE
Annual Development
Impact Fee Report for
Fiscal Year 2023
CF 30.8
Received and filed.

11. AWARD OF

CONTRACT
Traffic Safety
Improvements (City
Project No. 9235)
CIP 9235
1) Appropriated an additional $225,800 from the City’s
Measure M allocation; and 2) Awarded the contract for
the traffic safety improvements to Elecnor Belco
Electric, Inc. Chino, California, in the amount of
$518,888, and authorized the Mayor or her designee
to execute the agreement.

12. ORDINANCE 1179
Adopting by Reference
the Los Angeles County
Health and Safety Code
CF 61.23
Read by title only, waived further reading, and set a
Public Hearing for Ordinance No. 1179 at the next
regular meeting on February 13, 2024 at 6:00 p.m.

13. ORDINANCE 1180
Adopting by Reference
the Los Angeles County
Traffic Code
CF 98.1
Read by title only, waived further reading, and set a
Public Hearing for Ordinance No. 1180 at the next
regular meeting on February 13, 2024 at 6:00 p.m.

OLD BUSINESS

14. ORAL REPORT
Civic Center Fountain
Design Update
CF 43.1227
Kirk Keller with Studio One-Eleven presented a
PowerPoint presentation providing an overview of the
updated concept and designs for the Civic Center
Fountain Upgrade project.

NEW BUSINESS

15. ORAL REPORT
Traffic Safety Mini Bikes
CF 61.14
Los Angeles County Sheriff’s Department Deputy Trey
Dare, presented a PowerPoint presentation providing
an overview of the traffic laws and safety impacts
related to the use of mini bikes and pocket bikes.

Minutes of a Regular Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 5

16. APPROVAL
Request for Installation
of Stop Signs on
Jackson Street at
Indiana Avenue
CF 92
Councilmember Olmos recused herself from
consideration of this item due to the proximity of her
home to the subject property and left the dais.

Public Works Director Figueroa gave the report and
presented a PowerPoint presentation.

The following individual spoke in favor of this item:

Fernando Martinez.

It was moved by Councilmember Lemons and
seconded by Councilmember Cuellar Stallings to
approve the request for the installation of stop signs on Jackson Street at Indiana Avenue with all appropriate
signage and pavement markings. The motion was
passed by the following roll call vote:

AYES: Councilmembers Lemons, Cuellar
Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: Councilmember Olmos
Councilmember Olmos returned to the dais.

17. AWARD OF

CONTRACT
Dills Park Orchard (City
Project No. 9258)
CF CIP 9258
Public Works Director Figueroa and Community
Services Director Johnson gave the report and
presented a PowerPoint presentation.

Discussion ensued concerning the maturity level of the
trees that will be planted and how soon they will bear
fruit. Further discussion ensued concerning the
funding for this project and the fencing material. Staff was directed to ensure that fencing is more of a lattice type fence that will allow landscaping on the exterior
and vegetable planting on the interior.

It was moved by Councilmember Lemons and
seconded by Councilmember Olmos to 1) Appropriate
an additional $177,000 from the available Capital
Project Fund, and 2) Award the contract for the Dills
Park Orchard (City Project Number 9258) to Parsam
Construction, Glendale, California, in the amount of
$2,570,000, and authorize the Mayor or her designee
to execute the agreement. The motion was passed by
the following roll call vote:

Minutes of a Regular Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 6
AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None

18. PUBLIC HEARING
REPORT
Resolution No.
24:001/General Plan
Amendment No. 23-2
and Ordinance No.
1181/Zone Change No.
245 Michael
Ferrero/Orizaba 10, LP
CF 102 Amend. 23-2
CF 109 ZC No. 245
Planning Director Carver gave the report and
presented a PowerPoint presentation.

Mayor Aguayo opened the public hearing and asked if
there was any public testimony for this item.

The following individual spoke in favor of this item:

Greg Hamilton (on behalf of the applicant).

There being no further public testimony, it was moved
by Councilmember Lemons and second by
Councilmember Cuellar Stallings to close the public
hearing. The motion was passed by the following roll
call vote:

AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None
Discussion ensued concerning the need to share
information about this project with the residents in this neighborhood.

Following brief discussion, the following actions were
taken:

A) It was moved by Councilmember Lemons and
seconded by Councilmember Cuellar Stallings to
adopt the Mitigated Negative Declaration and
Mitigation Monitoring and Reporting Program as
presented.

AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None
Minutes of a Regular Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 7
B) It was moved Councilmember Lemons and
seconded by Councilmember Olmos to read by title
only and adopt Resolution No. 24:001, “A

RESOLUTION OF THE CITY COUNCIL OF THE CITY

OF PARAMOUNT SETTING FORTH ITS FINDINGS

OF FACT AND DECISION RELATIVE TO GENERAL
PLAN AMENDMENT NO. 23-2, APPROVING A
REQUEST BY MICHAEL FERRERO/ORIZABA 10, LP

TO CHANGE THE GENERAL PLAN LAND USE

DESIGNATION FROM COMMERCIAL TO SINGLE
FAMILY RESIDENTIAL AT 16261 ORIZABA AVENUE
IN THE C-3 (GENERAL COMMERCIAL) ZONE IN
THE CITY OF PARAMOUNT.” The motion was
passed by the following roll call vote.

AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None
C) It was moved by Councilmember Olmos and
seconded by Councilmember Lemons to read by title
only, waive further reading, introduce Ordinance No.
1181, “AN ORDINANCE OF THE CITY COUNCIL OF

THE CITY OF PARAMOUNT AMENDING
ORDINANCE NO. 178, THE COMPREHENSIVE

ZONING ORDINANCE, APPROVING ZONE
CHANGE NO. 245, CHANGING THE OFFICIAL

ZONING MAP OF THE CITY OF PARAMOUNT
FROM C-3 (GENERAL COMMERCIAL) TO PD-PS
(PLANNED DEVELOPMENT WITH PERFORMANCE

STANDARDS)/ SINGLE-FAMILY RESIDENTIAL TO
ALLOW FOR THE DEVELOPMENT OF 10 SINGLEFAMILY HOMES AT 16261 ORIZABA AVENUE IN THE CITY OF PARAMOUNT,” and place it on the
February 13, 2024 agenda for adoption. The motion
was passed by the following roll call vote:

AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None
Minutes of a Regular Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 8

19. APPROVAL
Agreement with AECOM
for Professional Services
Related to Monitoring
Wells Installation (City
Project No. 9413)
CF 43.1236
Public Works Director Figueroa gave the report and
presented a PowerPoint presentation.

It was moved by Councilmember Lemons and
seconded by Councilmember Cuellar Stallings to
appropriate an additional $64,800 from the Water
Fund, and 2) Approve an agreement with AECOM for
professional services related to Monitoring Wells
Installation (City Project No. 9413) in the amount of
$113,420 and authorize the Mayor or her designee to
execute the agreement in a form approved by the City
Attorney. The motion was passed by the following roll
call vote:

AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None

20. APPROVAL
Paramount Community
Health & Wellness Fair
CF 39
Community Services Director Johnson gave the report
and presented a PowerPoint presentation.

It was moved by Cuellar Stallings and seconded by
Councilmember Olmos to approve the inclusion of the
Health and Wellness Fair at the existing 5k/1k event
scheduled for June 1, 2024. The motion was passed
by the following roll call vote:

AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None

21. RESOLUTION NO.
24:002
Approval of the City of
Paramount 2024
Legislative Platform
CF 58
Management Analyst Gonzalez gave the report and
presented a PowerPoint presentation.

It was moved by Councilmember Cuellar Stallings and
seconded by Councilmember Olmos to read by title
only and adopt Resolution No. 24:002, “A

RESOLUTION OF THE CITY COUNCIL OF THE CITY

OF PARAMOUNT APPROVING THE CITY OF
PARAMOUNT 2024 LEGISLATIVE PLATFORM.” The
motion was passed by the following roll call vote:

Minutes of a Regular Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 9
AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None

22. APPROVAL
Proposed Revisions to
Contracted Aquatic
Services Provider
CF 43.1237
Community Services Director Johnson gave the report
and presented a PowerPoint presentation.

It was moved by Councilmember Olmos and seconded
by Councilmember Lemons to 1) Allocate an additional
$29,000 from the General Fund in FY 2023-24 to
provide for aquatic services from Premier Aquatics;
and 2) Approve an agreement with Premier Aquatics
for aquatics services in the amount of $300,700 and
authorize the City Manager to execute the agreement
in a form approved by the City Attorney. The motion
was passed by the following roll call vote:

AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None

23. APPROVAL
Agreement with Studio
One-Eleven for
Construction Design
Services for Somerset
Ranch Pocket Park
CF 43.1238
Community Services Director Johnson gave the report
and presented a PowerPoint presentation.

It was moved by Councilmember Cuellar Stallings and
seconded by Lemons to 1) Appropriate $47,500 from
the Capital Project Fund for this project; and 2)
Approve the professional services agreement with
Studio One-Eleven in the amount of $47,135 for the
development of construction design and cost
estimates for the Somerset Ranch Pocket Park and
authorize the Mayor or her designee to execute the
agreement. The motion was passed by the following
roll call vote:

AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None
Minutes of a Regular Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 10

24. ORAL REPORT
Building and Safety 2023
Update
CF 29
Building and Safety Manager Rightmer presented a
PowerPoint presentation providing an update on the
City’s Building and Safety Department and sharing a
demonstration of the departments new online service
offerings.

COMMENTS/COMMITTEE REPORTS
Councilmembers
Councilmember Olmos thanked Dr. Allen for the
Turkey Give-a-way he hosted on December 16th. She
also reported on her attendance at the Contract Cities
Legislative Tour conference in Sacramento earlier this
month. She noted that the Paramount Historical
Society will have an election for Secretary and Vice
Chair and encouraged interested residents to reach
out to her for more information. Lastly, she wished
everyone a Happy New Year.

Councilmember Lemons reported that SEAACA is
looking for individuals to foster and/or adopt pets due to a disease that is currently affecting animal shelters.

Councilmember Cuellar Stallings reported that she
also attended Dr. Allen’s turkey give away and the
Contract Cities Legislative Tour conference. Lastly,
she wished everyone a Happy New Year.

Mayor Aguayo thanked staff for their hard work on the
holiday events, especially the Santa Train. She
reported on her attendance at the US Conference of
Mayors in Washinton DC where she had the
opportunity to meet with Legislators and network with
other Mayors to hear the issues they are facing in their communities. Lastly, she wished everyone a Happy
New Year.

Staff
City Manager Moreno introduced Magnolia Sandoval
who was recently promoted to the position of
Management Analyst in the Community Services
Department.

Minutes of a Regular Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 11

SUCCESSOR AGENCY FOR THE PARAMOUNT

REDEVELOPMENT AGENCY - CONSENT

CALENDAR
It was moved by Councilmember Olmos and seconded
by Councilmember Lemons to approve Successor
Agency Consent Calendar Items SA1 and SA2 as
shown below. The motion was passed by the following
roll call vote:

AYES: Councilmembers Lemons, Olmos,
Cuellar Stallings; and Mayor Aguayo
NOES: None
ABSENT: Vice Mayor Delgadillo
ABSTAIN: None
SA1. APPROVAL
Register of Demands –
December 2023
(Successor Agency)
CF 47.2
Approved.

SA2. APPROVAL
Successor Agency
Minutes of December 12,
2023
Approved.

Mayor Aguayo recessed the City Council meeting to
Closed session at 7:58 p.m. to discuss the matters
listed below.

CLOSED SESSION
Mayor Aguayo called the meeting back to order in
open session at 8:54 p.m. and City Attorney
Cavanaugh reported the actions listed below.

CONFERENCE WITH LEGAL COUNSEL –

EXISTING LITIGATION
Government Code § 54956.9(d)(1) - Three (3) cases
Communities for a Better Environment; East Yard
Communities for Environmental Justice; and Center
for Biological Diversity v. City of Paramount
City of Whittier et al v. Los Angeles Superior Court
Shadowood v. City of Paramount
No action taken which requires publication at this time.

Minutes of a Regular Meeting of the

PARAMOUNT CITY COUNCIL
January 23, 2024; Page 12

PUBLIC EMPLOYEE PERFORMANCE

EVALUATION
Government Code § 54957(b)(1)
Employee: City Manager
No action taken. The City Council will meet before the
joint meeting on Tuesday, January 30, 2024 in the
Board Room at Progress Park Plaza to discuss this
matter.

ADJOURNMENT
There being no further business to come before the
City Council, Mayor Aguayo adjourned the meeting at
8:55 p.m. The next meeting will be a joint meeting with the Paramount School District Board of Education to
be held on January 30, 2024 at 6:00 p.m. at Progress
Park Plaza, 15500 Downey Avenue, Paramount, CA
90723.

Isabel Aguayo, Mayor
ATTEST:

Heidi Luce, City Clerk
HTTPS://PARAMOUNTCITY1957.SHAREPOINT.COM/SITES/CITYMANAGERS/SHARED DOCUMENTS/CITY CLERK/AGENDA/MINUTES/2024 MINUTES/01-23-2023 MINUTES-CC.DOCX; 2/13/2024 7:19 PM

PARAMOUNT CITY COUNCIL

MINUTES OF A SPECIAL MEETING
JANUARY 30, 2024
City of Paramount, Progress Park Plaza (Board Room), 15500 Downey Avenue, Paramount, CA 90723 CALL TO ORDER: The special meeting of the Paramount City Council was called to order by Mayor Isabel Aguayo at 5:00
p.m. in the Board Room at Progress Park Plaza, 15500
Downey Avenue, Paramount, California.

ROLL CALL OF
COUNCIL:

Present: Councilmember Peggy Lemons
Councilmember Vilma Cuellar Stallings
Councilmember Brenda Olmos
Vice Mayor Annette C. Delgadillo
Mayor Isabel Aguayo
CITY STAFF PRESENT: John Moreno, City Manager
John E. Cavanaugh, City Attorney
Heidi Luce, City Clerk

PUBLIC COMMENTS
There were none.

CLOSED SESSION
At 5:01 p.m., the City Council recessed into closed
session to discuss the matter listed below.

PUBLIC EMPLOYEE PERFORMANCE

EVALUATION
Government Code § 54957(b)(1)
Employee: City Manager
At 5:24 p.m. Mayor Aguayo called the meeting back to
order in open session.

City Attorney Cavanaugh reported that the City
Council met in closed session to discuss the matter
listed above and on a vote of 5-0, issued a vote of
confidence for the City Manager and exercised the
option under Section 5B of the City Manager’s contract
related to vacation time.

Minutes of a Special Meeting of the

PARAMOUNT CITY COUNCIL
January 30, 2024; Page 2

ADJOURNMENT
There being no further business to come before the
City Council, Mayor Aguayo adjourned the meeting at
5:25 p.m. to a meeting on January 30, 2024 at 6:00
p.m. in the Auditorium at Progress Park Plaza, 15500
Downey Avenue, Paramount, CA 90723
Isabel Aguayo, Mayor
ATTEST:

Heidi Luce, City Clerk
HTTPS://PARAMOUNTCITY1957.SHAREPOINT.COM/SITES/CITYMANAGERS/SHARED DOCUMENTS/CITY CLERK/AGENDA/MINUTES/2024 MINUTES/01-30-2023 MINUTESSPECIAL-CC.DOCX;2/13/2024 7:19 PM

PARAMOUNT CITY COUNCIL/

PARAMOUNT UNIFIED SCHOOL DISTRICT BOARD OF EDUCATION

MINUTES OF A JOINT MEETING
JANUARY 30, 2024
City of Paramount, Progress Park Plaza, 15500 Downey Avenue, Paramount, CA 90723 CALL TO ORDER: The joint meeting of the Paramount City Council and Paramount Unified School District Board of Education
was called to order by Mayor Isabel Aguayo and
President Eddie Cruz at 6:00 p.m. in the Auditorium at
Progress Park Plaza, 15500 Downey Avenue,
Paramount, California.

PLEDGE OF
ALLEGIANCE:

Councilmember Cuellar Stallings led the pledge of
allegiance.

ROLL CALL: City Council Members Present:

Councilmember Peggy Lemons
Councilmember Vilma Cuellar Stallings
Councilmember Brenda Olmos
Vice Mayor Annette C. Delgadillo
Mayor Isabel Aguayo
PUSD Board Members Present:

Board Member Yesenia Cuarenta
Board Member Sonia De Leon
Board Member Diane J. Martinez
Vice President/Clerk Alicia Anderson
President Eddie Cruz
Student Board Member Michelle Pacheco
CITY STAFF PRESENT: John Moreno, City Manager
Andrew Vialpando, Assistant City Manager
Heidi Luce, City Clerk
David Johnson, Community Services Director
Margarita Matson, Public Safety Director
Andres Gonzalez, Management Analyst
PUSD STAFF PRESENT: Joshua L. Lightle, Ed.D., Superintendent Isela Preciado, Senior Executive Assistant
Linsey Gotanda, Ed.D., Assistant SuperintendentHuman Resources Patricia Tu, Assistant Superintendent-Business
Services
Minutes of a Joint Meeting of the

PARAMOUNT CITY COUNCIL/PUSD BOARD OF EDUCATION
January 30, 2024; Page 2

PUBLIC COMMENTS
CF 10.3 There were no public comments.

NEW BUSINESS

1. DISCUSSION
Share & Tell – Improving
Communications
CF 89.1
City Manager Moreno presented an overview of the
City’s communication program providing information
on staff responsibilities, contracted services and the
various communication vehicles used by the City.

Additionally, Superintendent Lightle provided an
overview of the School District’s communication
program including the School District’s website and the Strategic Communications plan that is currently being
developed.

City Manager Moreno and Superintendent Lightle also
reviewed the respective 2023 accomplishments for
their respective organizations.

Discussion ensued concerning opportunities for
collaboration and improving communications between
the two organizations.

2. DISCUSSION
Safety & Wellness
CF 89.1
City Manager Moreno presented background and
history information on the Gang Resistance is
Paramount (GRIP) program that was previously
offered in the PUSD schools as gang resistance
education but discontinued at the School District’s
request as gang related issues subsided.

Additionally, Superintendent Lightle presented an
overview of the School District’s initiatives related to safety and wellness including the Safe & Civil Schools
program, the various staff dedicated to social and
emotional wellness, and the comprehensive school
safety plans.

Public Safety Director Matson provided a brief
summary regarding the monthly meetings held with the
City’s Public Safety team and School District
personnel which provide an opportunity to address
specific incidents and proactively discuss school
safety matters.

Minutes of a Joint Meeting of the

PARAMOUNT CITY COUNCIL/PUSD BOARD OF EDUCATION
January 30, 2024; Page 3
Discussion ensued concerning opportunities for City
and School District collaboration in redesigning an
anti-gang and anti-drug education program for
students in the District.

Following discussion, staff was directed to agendize
this matter for discussion at an upcoming Ad Hoc
committee meeting.

3. DISCUSSION
Participation at School,
City and Community
Events
CF 89.1
City Manager Moreno and Superintendent Lightle
each presented an overview of the website calendars
for their respective organizations. Superintendent
Lightle noted that the School District is currently
working on implementing an interactive calendar that
will include District-wide events as well as individual school events.

Discussion ensued concerning instances where City
and School District events overlapped creating conflict for our residents and students and possible ways to
sync the calendars to minimize conflicts so that at a
minimum, the major events don’t overlap.

Following discussion, staff was directed to agendize
this matter for discussion at an upcoming Ad Hoc
committee meeting.

ADJOURNMENT
There being no further business to come before the
City Council and School Board, the joint meeting was
adjourned at 7:23 p.m. The next meeting of the City
Council will be held on February 13, 2024 at 6:00 p.m.
in the Council Chamber at City Hall, 16400 Colorado
Avenue, Paramount, CA 90723.

Isabel Aguayo, Mayor
ATTEST:

Heidi Luce, City Clerk
Minutes of a Joint Meeting of the

PARAMOUNT CITY COUNCIL/PUSD BOARD OF EDUCATION
January 30, 2024; Page 4
H:\CITYMANAGER\AGENDA\MINUTES\TEMPLATES-MINUTES\REGULAR\REG MTG MINUTES-CC.DOC; 2/13/2024 7:19 PM To: Honorable City Council
From: John Moreno, City Manager
By: Kim Sao, Finance Director
Date: February 13, 2024
SUBJECT: REGISTER OF DEMANDS – JANUARY 2023 (CITY)

BACKGROUND
The register of demands is submitted to the Council monthly.

DISCUSSION
The register of demands is attached for approval by the City Council.

FISCAL IMPACT
None.

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 6: Efficient, Effective, and Fiscally Responsible - Deliver an efficient and effective City government in a fiscally responsible, transparent and collaborative manner.

RECOMMENDED ACTION
Approve the Register of Demands.

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332386 STATE DISBURSEMENT UNIT 500.00 PAYROLL DEDUCTION - SPEC 1/25 Vendor Tota 500.00
332292 A & G FENCE AND SUPPLY SALES 2,325.00 PW - FACILITY MNTC SVCS Vendor Tota 2,325.00
332083 A PLUS PORTABLE SERVICES 366.79 CSR - NIGHT MARKET Vendor Tota 366.79
332256 ABEYKOON 12.57 WTR REF - 6609 CARO
Vendor Tota 12.57
332344 ABOULHOSN 64.34 WTR REF - 8411 SOMERSET 1/2
Vendor Tota 64.34
332139 ACC BUSINESS 793.22 GEN - CH SECONDARY FIBER INTERNET(12/23 Vendor Tota 793.22
332084 ADMINISTRATIVE SERVICES CO-OP 2,716.96 CSR - TAXI TRANSIT SVCS (9/23) 2,503.52 CSR - TAXI TRANSIT SVCS (10/23)
2,264.79 CSR - TAXI TRANSIT SVCS (11/23)

96.68 CSR - TAXI TRANSIT SVCS (11/23)

91.36 CSR - TAXI TRANSIT SVCS (10/23)
Vendor Tota 7,673.31
332293 ADOPT A HIGHWAY 3,442.10 PW - LITTER REMOVAL SVCS (11/23) Vendor Tota 3,442.10
332294 ADVANCED AQUATIC TECHNOLOGY 975.00 PW - CIVIC CENTER FOUNTAIN MNTC (1/24) Vendor Tota 975.00
332286 AFLAC 1,330.74 AFLAC VOLUNTARY INSURANCE (12/23) Vendor Tota 1,330.74
332295 AIRGAS 28.70 PW - WATER OPER MNTC SUPPLIES
Vendor Tota 28.70
332369 AKESO OCCUPATIONAL HEALTH 805.00 HR - HEALTH SCREENINGS (10/23) 1,000.00 CSR - STAR HEALTH SCREENINGS (10/23)
1,210.00 CSR - STAR HEALTH SCREENINGS (11/23)
536.00 HR - HEALTH SCREENINGS (11/23)

90.00 HR - HEALTH SCREENINGS (12/23)
195.00 CSR - STAR HEALTH SCREENINGS
Vendor Tota 3,836.00
332140 AKM CONSULTING ENGINEERS, INC 16,830.00 PW - WATER ENG SVCS (11/23) 332405 10,230.00 PW - WATER ENG SVCS (12/23)
Vendor Tota 27,060.00
332345 ALERT CLEANERS 132.00 PS - OFFICE SUPPLIES
332387 612.00 CSR - LAUNDRY SVCS (12/8)
488.00 CSR - LAUNDRY SVCS (12/21)
Vendor Tota 1,232.00
332085 ALIN PARTY SUPPLY CO. 140.07 CSR - MOVIE NIGHT EVENT (12/15)

51.30 CSR - ADAPTIVE RECREATION SUPPLIES

28.12 CSR - STAR SUPPLIES
332296 574.11 CSR - STAR SUPPLIES
304.06 CSR - STAR SUPPLIES
332388 210.61 CSR - STAR SUPPLIES

74.90 HR - PERSONNEL DEVELOPMENT
332406 160.72 CSR - NIGHT MARKET

46.29 CSR - ADAPTIVE RECREATION SUPPLIES
Vendor Tota 1,590.18

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332297 ALL CITIES LOCK & SAFE 102.36 PW - FACILITY MNTC SUPPLIES Vendor Tota 102.36
332141 ALPHA POWDER COAT LLC 385.00 PW - FACILITY MNTC SUPPLIES 332407 300.00 PW - FACILITY MNTC SUPPLIES
Vendor Tota 685.00
332257 ALVAREZ 14.79 WTR REF - 6609 MYRRH #B
Vendor Tota 14.79

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
16927 AMERICAN EXPRESS 41.87 PW - FACILITY MNTC SUPPLIES 677.85 CSR - ENP SUPPLIES
486.74 CSR - STAR SUPPLIES

83.32 CSR - OFFICE SUPPLIES

33.06 CSR - STAR SUPPLIES

16.37 FIN - OFFICE SUPPLIES

39.67 CSR - STAR SUPPLIES
396.75 PW - FACILITY MNTC SUPPLIES

36.33 CSR - ENP EVENT SUPPLIES

11.00 CSR - STAR SUPPLIES
134.08 PS - OFFICE SUPPLIES

52.26 CSR - STAR SUPPLIES
140.24 PS - OFFICE SUPPLIES
227.87 CSR - STAR SUPPLIES

7.71 PS - OFFICE SUPPLIES
188.00 CSR - STAR SUPPLIES

78.48 CSR - ENP EVENT SUPPLIES

19.79 CSR - ENP EVENT SUPPLIES

39.19 PS - OFFICE SUPPLIES
484.58 CSR - STAR SUPPLIES

13.22 CSR - RECREATION SUPPLIES
220.49 CM - OFFICE SUPPLIES
105.86 PW - FACILITY MNTC SUPPLIES
109.66 CSR - STAR SUPPLIES
356.42 CSR - STAR SUPPLIES

24.35 CSR - ENP EVENT SUPPLIES

47.49 FIN - OFFICE SUPPLIES
118.20 CM - MEETING EXPENSE

17.30 FIN - OFFICE SUPPLIES

61.72 CSR - SANTA SNOWFEST EVENT

28.76 PS - OFFICE SUPPLIES

58.42 PS - OFFICE SUPPLIES
140.94 CSR - SANTA SNOWFEST EVENT

44.08 PW - FACILITY MNTC SUPPLIES

27.77 PW - FACILITY MNTC SUPPLIES

71.74 CSR - MOVIE NIGHT EVENT (12/15)

24.32 PS - OFFICE SUPPLIES
129.00 CSR - MOVIE NIGHT EVENT (12/15)
116.80 CSR - MOVIE NIGHT EVENT (12/15)
103.14 CSR - MOVIE NIGHT EVENT (12/15)
284.98 CSR - SANTA SNOWFEST EVENT
120.70 CSR - PEP SUPPLIES
219.57 CSR - MOVIE NIGHT EVENT (12/15)
126.75 CSR - STAR SUPPLIES

31.26 PL - OFFICE SUPPLIES

17.19 CSR - MOVIE NIGHT EVENT (12/15)

46.38 PL - OFFICE SUPPLIES
313.10 CSR - SANTA SNOWFEST EVENT

62.67 CSR - STAR SUPPLIES
175.96 CSR - ENP SUPPLIES

19.83 CSR - MOVIE NIGHT EVENT (12/15)

7.67 PL - OFFICE SUPPLIES
764.86 CSR - ENP SUPPLIES

35.42 CSR - STAR SUPPLIES
108.20 CSR - STAR SUPPLIES
111.99 CSR - STAR SUPPLIES

29.98 CM - OFFICE SUPPLIES

28.56 PW - OFFICE SUPPLIES
136.62 CSR - STAR SUPPLIES

55.43 CSR - STAR SUPPLIES

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
16927 AMERICAN EXPRESS 55.11 CSR - STAR SUPPLIES

78.35 CSR - STAR SUPPLIES

12.67 CSR - STAR SUPPLIES

89.91 CSR - STAR SUPPLIES

38.56 CSR - STAR SUPPLIES
325.15 CSR - STAR SUPPLIES
1,231.46 CSR - STAR SUPPLIES

72.74 CSR - STAR SUPPLIES
127.33 CM - OFFICE SUPPLIES

29.19 GEN - OFFICE SUPPLIES
177.49 CSR - PEP SUPPLIES
252.78 CSR - PEP SUPPLIES

88.19 CSR - RECREATION SUPPLIES

39.12 CSR - PEP SUPPLIES

50.68 CSR - STAR SUPPLIES

89.01 CSR - STAR SUPPLIES

46.59 CSR - PEP SUPPLIES
200.00 HR - CAUGHT IN THE ACT OF EXCELLENCE
180.41 CSR - STAR SUPPLIES

18.32 PS - OFFICE SUPPLIES

24.06 PS - OFFICE SUPPLIES

37.75 PS - OFFICE SUPPLIES

25.69 CSR - PEP SUPPLIES

12.35 PL - OFFICE SUPPLIES

23.82 FIN - OFFICE SUPPLIES

39.14 PS - OFFICE SUPPLIES

59.40 PL - OFFICE SUPPLIES

11.51 PL - OFFICE SUPPLIES
436.59 CSR - EQUIPMENT MNTC SUPPLIES

41.86 CSR - STAR SUPPLIES

13.23 AS - OFFICE SUPPLIES

26.40 AS - OFFICE SUPPLIES
618.30 CSR - STAR SUPPLIES
Vendor Tota 12,285.12
332298 AMERICAN PUBLIC WORKS ASSOC 286.25 PW - APWA MEMBERSHIP (RR) 286.25 PW - APWA MEMBERSHIP (MF)
286.25 PW - APWA MEMBERSHIP (AF)
Vendor Tota 858.75
332408 AMERICAN WATER WORKS ASSOC. 105.00 PW - AWWA MEMBERSHIP (NM) Vendor Tota 105.00
332409 APOLLO WOOD RECOVERY, INC 1,896.20 PW - LANDSCAPE MNTC SUPPLIES 1,896.20 PW - LANDSCAPE MNTC SUPPLIES
Vendor Tota 3,792.40
332410 AQUA-METRIC SALES COMPANY 4,913.09 PW - WATER METERS (4) 2,979.81 PW - WATER METER
Vendor Tota 7,892.90
332086 ARAMARK UNIFORM SERVICES, INC. 211.84 CSR - LAUNDRY SVCS (12/20) 332299 211.84 CSR - LAUNDRY SVCS (1/3)
Vendor Tota 423.68

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332142 AT & T 95.59 GEN - SPLASH PAD INTERNET (11/23)

85.60 GEN - SPLASH PAD INTERNET (12/23)
332196 112.35 GEN - COM CTR INTERNET (1/24)
332300 53.50 GEN - PARAMOUNT POOL INTERNET (1/24)
332411 95.59 GEN - SPLASH PAD INTERNET (1/24)
332197 1,292.79 PW - WATER SYSTEM SERVICE (12/23)
1,031.77 GEN - TELEPHONE SERVICE (12/23)
Vendor Tota 2,767.19
332143 ATKINSON, ANDELSON, LOYA 105.00 HR - LEGAL SVCS (11/23)

67.00 HR - PERSONNEL RELATIONS SVCS (11/23)
Vendor Tota 172.00
332301 BAKER COMMODITIES, INC 495.00 PW - FACILITY MNTC SVCS Vendor Tota 495.00
332109 BEIGHTON, DAVE 1,600.00 PS - DETECTIVE SPECIALIST (12/16-12/29) 332239 1,700.00 PS - DETECTIVE SPECIALIST (12/30-1/12)
Vendor Tota 3,300.00
332346 BENJAMIN MFG CO INC 49.38 WTR REF - 15342 ILLINOIS Vendor Tota 49.38
332087 BIOMETRICS4ALL, INC 225.00 HR - FINGERPRINTING SVCS (11/23) 585.00 CSR - STAR FINGERPRINTING SVCS (11/23)
332370 180.00 HR - FINGERPRINTING SVCS (12/23)

90.00 CSR - STAR FINGERPRINTING SVCS (12/23)
Vendor Tota 1,080.00
332088 BRICIO CALVILLO, MIRIAM 1,750.00 CSR - ADULT RECREATION EVENT (12/14-WE) Vendor Tota 1,750.00
332110 BROWN, DORRIS 250.00 PS - CITATION REFUND (BROWN) Vendor Tota 250.00
332302 BRYAN EXHAUST SERVICE, INC 1,425.00 PW - FACILITY MNTC SVCS Vendor Tota 1,425.00
332303 BUCKNAM & ASSOCIATES, INC 5,640.00 PW - WATER DEPT ORG REVIEW (12/23) Vendor Tota 5,640.00
332389 CALIF PARK & RECREATION (CPRS) 150.00 CSR - CPRS MEMBERSHIP (LA) Vendor Tota 150.00
16917 CALIFORNIA PUBLIC EMPLOYEES' 42,976.63 PERS RETIREMENT - PPE 12/29 16918 21,272.92 PERS RETIREMENT - PPE 12/29
16949 42,968.75 PERS RETIREMENT - PPE 1/12
16950 3,390.01 PERS RETIREMENT (1/24)
16951 21,187.50 PERS RETIREMENT - PPE 1/12
16952 533.58 PERS RETIREMENT (1/24)
16961 115,813.13 MEDICAL INSURANCE (ACTIVE) - 2/24
9,891.00 MEDICAL INSURANCE (RETIRED) - 2/24
595.42 MEDICAL INSURANCE (ADMIN) - 2/24
332144 2,824.44 GEN - REPL BENEFIT CONTRIBUTION (2024)
Vendor Tota 261,453.38
332126 CALPERS LONG-TERM CARE PROGRAM 59.42 CALPERS LTC - PPE 12/29 (AF) 332287 59.42 CALPERS LTC - PPE 1/12 (AF)
Vendor Tota 118.84

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332258 CANON FINANCIAL SERVICES, INC 436.37 FIN - COPIER LEASE (12/23) 508.14 GEN - COPIER LEASE (12/23)
411.16 PL - COPIER LEASE (12/23)
103.22 PS - COPIER LEASE (12/23)
867.68 CSR - COPIER LEASE (12/23)
457.22 PW - COPIER LEASE (12/23)
332371 436.37 FIN - COPIER LEASE (1/24)
508.14 GEN - COPIER LEASE (1/24)
411.16 PL - COPIER LEASE (1/24)
103.22 PS - COPIER LEASE (1/24)
867.68 CSR - COPIER LEASE (1/24)
457.22 PW - COPIER LEASE (1/24)
Vendor Tota 5,567.58
332259 CARDENAS 79.24 WTR REF - 15559 GUNDRY
Vendor Tota 79.24
332260 CARRILLO 17.67 WTR REF - 8044 HOWE
Vendor Tota 17.67
332089 CASA ADELITA 428.32 CSR - ENP EVENT SUPPLIES
332261 1,713.29 CSR - SENIOR SPECIAL EVENT (12/29-WE)
Vendor Tota 2,141.61
332412 CBRE, INC 4,500.00 PL - APPRAISAL SVCS (15538 COLORADO) Vendor Tota 4,500.00
332145 CENTRAL BASIN MUNI WATER DIST 263,616.56 PW - PURCHASED WATER (11/23) Vendor Tota 263,616.56
332198 CEREUS BLOOM LIFE COACHING 500.00 PS - YAL SUPPLIES Vendor Tota 500.00
332262 CHARTER COMMUNICATIONS 6,984.36 GEN - INTERNET SVCS (1/24) 148.42 GEN - CITY HALL CABLE (1/24)
148.42 GEN - CITY YARD CABLE (1/24)
Vendor Tota 7,281.20
332146 CINTAS #053 782.95 PW - UNIFORM SVC (FACILITIES) 998.70 PW - UNIFORM SVC (LANDSCAPE)
883.60 PW - UNIFORM SVC (ROADS)
224.43 PW - UNIFORM SVC (WTR PRODUCTION)
688.90 PW - UNIFORM SVC (WTR DISTRIBUTION)
591.10 PW - UNIFORM SVC (WTR CUSTOMER SVC)
332199 82.49 PW - UNIFORM SVC (FACILITIES)

17.99 PW - UNIFORM SVC (LANDSCAPE)

39.50 PW - UNIFORM SVC (ROADS)

21.51 PW - UNIFORM SVC (WTR DISTRIBUTION)
Vendor Tota 4,331.17
332413 CINTAS FIRE PROTECTION 169.00 PW - FIRE PROTECTION SVCS Vendor Tota 169.00
332390 CITY OF DOWNEY 31,850.00 PS - ANIMAL LICENSE CANVASSING (FY 24) Vendor Tota 31,850.00

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
16898 CITY OF PARAMOUNT PAYROLL 311,406.99 NET PAYROLL - PPE 12/29 16907 363.21 NET PAYROLL - SPEC 12/29
16922 372.98 NET PAYROLL - SPEC 1/12
16926 339,110.17 NET PAYROLL - PPE 1/12
16946 75.30 NET PAYROLL - SPEC 1/18
16954 668.82 NET PAYROLL - SPEC 1/26
16957 2,404.87 NET PAYROLL - SPEC 1/25
16959 550.19 NET PAYROLL - SPEC 1/25
Vendor Tota 654,952.53
332372 CITY OF PARAMOUNT WATER DEPT 25,331.10 GEN - PARKS & FACILITIES(11/23 - 12/23) 46,771.28 PW - MEDIAN IRRIGATION (11/23 - 12/23)
965.75 GEN - ASSESSMENT DISTRICT (11/23-12/23)

40.33 GEN - CLRWTR BLDG (11/23 - 12/23)
331.00 GEN - PARAMOUNT PARK (11/23 - 12/23)
4,567.44 GEN - PARAMOUNT PARK (11/23 - 12/23)
Vendor Tota 78,006.90
332263 COLORS PRINTING, INC 527.55 CSR - SENIOR NEWSLETTER (1/24) Vendor Tota 527.55
332304 COMMERCIAL BUILDING MANAGEMENT 13,525.36 PW - JANITORIAL SVCS (12/23) Vendor Tota 13,525.36
332373 CONFIDENCE CONSULTING 1,500.00 HR - LEADERSHIP ASSESSMENT (JR) Vendor Tota 1,500.00
332090 CONTINENTAL INTERPRETING 50.00 PL - TRANSLATION SVCS (PH - 1/3) 332127 50.00 PL - TRANSLATION SVCS (PH - 9/6)

50.00 PL - TRANSLATION SVCS (PH - 5/3)
332147 350.00 PS - COMMUNITY INTERPRETER (PH-12/21)
100.00 CC - TRANSLATION SVCS (AGENDA - 8/8)
Vendor Tota 600.00
332414 COPY PLACE 80.30 PL - SCAN SVCS (8430-8448 ALONDRA) Vendor Tota 80.30
332148 CORRAL CONSTRUCTION 44,029.40 CIP - CLRWTR BLDG IMPROVEMENTS 332240 10,446.10 CIP - CLRWTR BLDG IMPROVEMENTS
Vendor Tota 54,475.50
332415 CRAFTWATER ENGINEERING, INC 1,372.62 CIP - SPANE PK STORMWATER CAPTURE Vendor Tota 1,372.62
332091 CROWD CONTROL WAREHOUSE 1,472.64 CSR - INTERLOCKING STEEL BARRICADES(10) Vendor Tota 1,472.64
332149 D & S WINDOW COVERING, INC 1,054.00 PW - FACILITY MNTC SUPPLIES Vendor Tota 1,054.00
332111 DATA TICKET, INC 5,476.05 PS - PARKING CITATION SVCS (11/23) 1,005.00 PS - SPECTATOR CITATION SVCS (11/23)
340.00 PS - SPECIAL HEARING ST RACING (11/23)
307.00 PS - CODE ENF CITATION SVCS (11/23)
200.00 PS-SIDEWALK VENDOR CITATION SVCS(11/23)
200.00 PS - NOISE DISTURBANCE SVCS (11/23)
332416 770.00 PS - CODE ENF CITATION SVCS (12/23)
680.00 PS - SPECIAL HEARING ST RACING (12/23)
546.54 PS - SPECTATOR CITATION SVCS (12/23)
200.00 PS - NOISE DISTURBANCE SVCS (12/23)
200.00 PS-SIDEWALK VENDOR CITATION SVCS (12/23
Vendor Tota 9,924.59

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332347 DAVILA, JOSE N 65.16 PS - HOME SECURITY REBATE PROGRAM Vendor Tota 65.16
332200 DEPT OF INDUSTRIAL RELATIONS 225.00 PW - ELEVATOR INSPECTION (CLRWTR) Vendor Tota 225.00
332201 DIAMOND ENVIRONMENTAL SERVICES 530.55 PW - DILLS PARK RESTROOM (1/24) 328.50 PW - SALUD PARK RESTROOM (12/23)
332391 575.48 PW - PARAMOUNT PARK RESTROOM (2/24)
238.05 PW - PARAMOUNT PARK RESTROOM (1/24)
Vendor Tota 1,672.58
332392 DIANA'S FLOWERS 260.00 CSR - PEP SUPPLIES
Vendor Tota 260.00
332202 DIRECTV 95.99 PS - EOC SATELLITE SVCS (12/23)
Vendor Tota 95.99
332393 DISCOUNT SCHOOL SUPPLY 2,164.69 CSR - STAR SUPPLIES 583.50 CSR - STAR SUPPLIES
507.39 CSR - STAR SUPPLIES
507.39 CSR - STAR SUPPLIES
507.39 CSR - STAR SUPPLIES
507.39 CSR - STAR SUPPLIES
507.39 CSR - STAR SUPPLIES
507.39 CSR - STAR SUPPLIES
507.39 CSR - STAR SUPPLIES
507.39 CSR - STAR SUPPLIES
507.39 CSR - STAR SUPPLIES
507.39 CSR - STAR SUPPLIES
308.95 CSR - STAR SUPPLIES
107.85 CSR - STAR SUPPLIES

93.78 CSR - STAR SUPPLIES

93.78 CSR - STAR SUPPLIES

93.78 CSR - STAR SUPPLIES

93.78 CSR - STAR SUPPLIES

93.78 CSR - STAR SUPPLIES

93.78 CSR - STAR SUPPLIES

93.78 CSR - STAR SUPPLIES

93.78 CSR - STAR SUPPLIES

46.89 CSR - STAR SUPPLIES
Vendor Tota 9,036.02
332092 DOMINO'S PIZZA 450.00 CSR - ENP EVENT SUPPLIES (WE) 332394 195.00 CSR - STAR SUPPLIES

20.00 CSR - MEETING EXPENSE (12/16)
Vendor Tota 665.00
332203 DUNN EDWARDS PAINTS 65.13 PW - GRAFFITI REMOVAL SUPPLIES Vendor Tota 65.13
16910 ELAVON, INC 434.97 GEN-CS CREDIT CARD TERMINAL SVCS (12/23 16911 505.76 GEN-PL CREDIT CARD TERMINAL SVCS (12/23
Vendor Tota 940.73
332264 EMMANUEL REFORMED CHURCH 19.46 WTR REF - 16211 VIRGINIA Vendor Tota 19.46
16899 EMPLOYMENT DEVELOPMENT DEPT 13,320.50 STATE PAYROLL TAX - PPE 12/29 16928 13,346.15 STATE PAYROLL TAX - PPE 1/12
Vendor Tota 26,666.65

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
16901 EMPOWER TRUST COMPANY 14,894.80 FT DEF COMP 457 - PPE 12/29 16902 9,303.90 PT DEF COMP 457 - PPE 12/29
16903 1,916.82 DEF COMP 457 ROTH - PPE 12/29
16924 43.22 PT DEF COMP 457 - SPEC 1/12
16930 14,993.37 FT DEF COMP 457 - PPE 1/12
16931 11,470.02 PT DEF COMP 457 - PPE 1/12
16932 1,376.82 DEF COMP 457 ROTH - PPE 1/12
16948 12.40 FT DEF COMP 457 - SPEC 1/18
16956 67.59 PT DEF COMP 457 - SPEC 1/26
16904 703.13 401A LOAN PAYMENT - PPE 12/29
16905 2,594.36 457 LOAN PAYMENT - PPE 12/29
16933 703.13 401A LOAN PAYMENT - PPE 1/12
16934 3,331.23 457 LOAN PAYMENT - PPE 1/12
16906 758.25 FT 401 QUAL COMP - PPE 12/29
16935 758.25 FT 401 QUAL COMP - PPE 1/12
Vendor Tota 62,927.29
332150 ENTERPRISE FM TRUST 12,219.47 VEHICLE LEASE (2555RW) - PRINCIPAL 2,895.37 VEHICLE LEASE (2555RW) - INTEREST
7,161.12 TRUCK LEASE (2555ZV) - PRINCIPAL
1,696.80 TRUCK LEASE (2555ZV) - INTEREST
7,161.12 TRUCK LEASE (255622) - PRINCIPAL
1,696.80 TRUCK LEASE (255622) - INTEREST
4,232.46 VEHICLE LEASE (2556WG) - PRINCIPAL
731.82 VEHICLE LEASE (2556WG) - INTEREST
4,209.13 VEHICLE LEASE (25597P) - PRINCIPAL
727.79 VEHICLE LEASE (25597P) - INTEREST
4,209.13 VEHICLE LEASE (25597S) - PRINCIPAL
727.79 VEHICLE LEASE (25597S) - INTEREST
4,232.46 VEHICLE LEASE (25597T) - PRINCIPAL
731.82 VEHICLE LEASE (25597T) - INTEREST
5,506.27 VEHICLE LEASE (26PRR7) - PRINCIPAL
1,304.69 VEHICLE LEASE (26PRR7) - INTEREST
5,526.35 VEHICLE LEASE (26PRT6) - PRINCIPAL
1,309.45 VEHICLE LEASE (26PRT6) - INTEREST
5,523.44 VEHICLE LEASE (26Q3DM) - PRINCIPAL
1,308.76 VEHICLE LEASE (26Q3DM) - INTEREST
332241 6,304.32 CAR LEASE (278NPD) - PRINCIPAL
551.86 CAR LEASE (278NPD) - INTEREST
6,651.60 CAR LEASE (278NPK) - PRINCIPAL
360.58 CAR LEASE (278NPK) - INTEREST
6,535.92 CAR LEASE (278NPJ) - PRINCIPAL
407.23 CAR LEASE (278NPJ) - INTEREST
Vendor Tota 93,923.55
332151 ESQUIVEL, PEDRO RODRIGUEZ 71.00 PS - CITATION REFUND (ESQUIVEL) Vendor Tota 71.00
332265 ESTRADA, BALTAZAR 300.00 CSR - SENIOR SPECIAL EVENT (1/11-WE) 332395 300.00 CSR - SENIOR SPECIAL EVENT (2/8-WE)
Vendor Tota 600.00
332417 ETERNITY CARPET 1,994.83 PW - FACILITY MNTC SVCS Vendor Tota 1,994.83
332204 EUROFINS CALSCIENCE LLC 1,242.50 PW - WATER CHEMICAL TESTING Vendor Tota 1,242.50

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332205 EXCELLENCE LANDSCAPING 2,450.00 PW - LANDSCAPE MNTC SVCS 2,300.00 PW - LANDSCAPE MNTC SVCS
332305 575.00 PW - LANDSCAPE MNTC SVCS
Vendor Tota 5,325.00
332152 FAIR HOUSING FOUNDATION 1,957.98 PL - FAIR HOUSING SVCS (9/23) 1,437.93 PL - FAIR HOUSING SVCS (10/23)
1,324.77 PL - FAIR HOUSING SVCS 11/23)
Vendor Tota 4,720.68
332348 FALCON FUELS, INC 137,210.85 PL - ECONOMIC DEVELOPMENT Vendor Tota 137,210.85
332349 FARARJI 6.23 WTR REF - 15021 INDIANA
Vendor Tota 6.23
332350 FATIMA'S GRILL 680.24 HR - MANAGEMENT TEAM MEETING (1/24) Vendor Tota 680.24
332128 FEDEX 51.54 GEN - POSTAGE EXPENSE
332242 114.84 GEN - POSTAGE EXPENSE
332418 40.70 GEN - POSTAGE EXPENSE

31.87 GEN - POSTAGE EXPENSE
Vendor Tota 238.95
332153 FERGUSON ENTERPRISES, INC 73.08 PW - FACILITY MNTC SUPPLIES 332206 344.34 PW - FACILITY MNTC SUPPLIES
Vendor Tota 417.42
332093 FERNANDO TOURS INC 650.00 CSR - STAR SHUTTLE (12/6) 332396 850.00 CSR - PATHFINDERS EXCURSION (12/16)
750.00 CSR - RECREATION EXCURSION (8/9)

50.00 CSR - ENP EXCURSION (8/9)
750.00 CSR - RECREATION EXCURSION (1/10)

30.00 CSR - ENP EXCURSION (1/10)
Vendor Tota 3,080.00
332266 FIGUEROA 29.59 WTR REF - 13445 OBISPO
Vendor Tota 29.59
332207 FIRST VEHICLE SERVICES 31,342.08 PW - VEHICLE MNTC SVCS (12/23) 5,408.26 PW - VEHICLE NON-CONTRACT MNTC (12/23)
Vendor Tota 36,750.34
332112 FIRST-CITIZENS BANK & TRUST CO 527.84 PS - COPIER (12/23) 332351 527.84 PS - COPIER (1/24)
Vendor Tota 1,055.68
332306 FORD MOTOR CREDIT COMPANY LLC 8,800.32 PW - F250 TRUCK LEASE - PRINCIPAL 589.54 PW - F250 TRUCK LEASE - INTEREST
Vendor Tota 9,389.86
332289 FRANCHISE TAX BOARD 290.03 PAYROLL DEDUCTION - PPE 1/12 Vendor Tota 290.03
332397 FUN EXPRESS LLC 2,317.15 CSR - STAR SUPPLIES
2,292.02 CSR - STAR SUPPLIES
2,079.95 CSR - STAR SUPPLIES
633.62 CSR - STAR SUPPLIES
572.73 CSR - STAR SUPPLIES
306.52 CSR - STAR SUPPLIES
Vendor Tota 8,201.99

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332243 GALVAN, CANDACE 22,840.00 CIP - FAUX STONE WALL (DOWNEY/MERKEL) Vendor Tota 22,840.00
332113 GARCIA, JOSHUA 600.00 PS - RENTAL ASSISTANCE (BRYANT 1/24) Vendor Tota 600.00
332352 GARIBAY, ALEJANDRO 62.69 PS - HOME SECURITY REBATE PROGRAM Vendor Tota 62.69
332208 GAS COMPANY 8,177.04 GEN - FACILITIES NATURAL GAS (12/23) 281.99 PW - WELL #14 NATURAL GAS (12/23)
126.32 GEN - CLRWTR NATURAL GAS (12/23)
Vendor Tota 8,585.35
332267 GOGO TECHNOLOGIES, INC 300.00 CSR - RIDE DISPATCH (11/23) 2,540.48 CSR - RIDE FARE SVCS (11/23)
Vendor Tota 2,840.48
332129 GOLD KEY DEVELOPMENT, INC 131.25 FIRE FLOW REFUND - 16261 ORIZABA Vendor Tota 131.25
332353 GOLDEN STATE WATER COMPANY 656.92 PW - MEDIAN IRRIGATION (12/23) 4,095.32 GEN - ALL AMERICAN PARK WATER (12/23)
Vendor Tota 4,752.24
332244 GOOD SOIL INDUSTRIES 1,039.00 CIP - NEIGHBORHOOD ENHANCE (LA RIVERBED 200.00 CIP - NEIGHBORHOOD ENHANCE (8328 HOWE)
Vendor Tota 1,239.00
332190 GOTO COMMUNICATIONS, INC 2,208.84 GEN - VOIP TELEPHONE SVC (1/24) Vendor Tota 2,208.84
332209 GRAFFITI TRACKER, INC 13,000.00 PS - GRAFFITI TRACKING SVCS (1/24-6/24) Vendor Tota 13,000.00
332154 GREENFIELD LANDSCAPING & MNTC 3,198.13 PW - LANDSCAPE MNTC SVCS 2,547.88 PW - LANDSCAPE MNTC SVCS
2,194.88 PW - LANDSCAPE MNTC SVCS
908.50 PW - LANDSCAPE MNTC SVCS
551.43 PW - LANDSCAPE MNTC SVCS
332307 56,648.40 PW - LANDSCAPE MNTC SVCS (12/23)
3,786.76 PW - LANDSCAPE MNTC SVCS
Vendor Tota 69,835.98
332245 GUARDIAN 1,646.61 LIFE INSURANCE - 1/24
4,379.64 DISABILITY INSURANCE - 1/24
9,048.54 DENTAL INSURANCE (PPO) - 1/24
512.60 DENTAL INSURANCE (HMO) - 1/24
2,225.48 VISION INSURANCE - 1/24
2,394.80 SUPPLEMENTAL INSURANCE - 1/24
887.30 VOLUNTARY LIFE INSURANCE - 1/24
Vendor Tota 21,094.97
332354 GUTIERREZ 3,907.05 WTR REF - 13976 FACADE
Vendor Tota 3,907.05
332195 HARBOR BREEZE CORP 875.00 CSR - SENIOR SPECIAL EVENT (1/10 - WE) Vendor Tota 875.00
16909 HASLER MAILING SYSTEMS 50.00 GEN - POSTAGE METER FEE (2024) 16925 2,500.00 GEN - POSTAGE METER (1/11)
Vendor Tota 2,550.00

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332155 HAZEN AND SAWYER 1,969.00 PW - WELL PERMITTING SVCS (10/23) Vendor Tota 1,969.00
332374 HDL COREN & CONE 3,150.00 SA - PROPERTY TAX SVCS (1/24 - 3/24) Vendor Tota 3,150.00
332156 HDL SOFTWARE LLC 708.48 FIN - BUSINESS LICENSE SVCS (11/23) 2,298.24 FIN - BUSINESS LICENSE RENEWAL
Vendor Tota 3,006.72
332268 HERNANDEZ 9.73 WTR REF - 15944 ORIZABA 1/2
Vendor Tota 9.73
332355 HERNANDEZ, ANTONIO 250.00 PS - CITATION REFUND (HERNANDEZ) Vendor Tota 250.00
332130 HERRERA, MICHAEL 132.67 REFUND OVERPAYMENT ON LOAN (MH) Vendor Tota 132.67
332157 HI-WAY SAFETY INC 2,268.95 PW - STREET MNTC SUPPLIES 332308 2,288.83 PW - TRAFFIC SAFETY SUPPLIES
2,026.95 PW - TRAFFIC SAFETY SUPPLIES
Vendor Tota 6,584.73
332114 HINDERLITER, DE LLAMAS 1,425.00 FIN - SALES TAX SVCS (10/23-12/23) 2,741.82 FIN - SALES TAX RECOVERY (2Q - CY23)
332191 300.00 FIN - TRANSACTION TAX SVCS (10/23-12/23
Vendor Tota 4,466.82

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332376 HOME DEPOT/GECF 836.27 PW - FACILITY MNTC SUPPLIES 157.24 PW - FACILITY MNTC SUPPLIES

24.23 PW - FACILITY MNTC SUPPLIES
716.63 PW - FACILITY MNTC SUPPLIES
201.94 PW - FACILITY MNTC SUPPLIES
133.72 CP - CHRISTMAS TRAIN SUPPLIES
640.70 PW - FACILITY MNTC SUPPLIES
165.20 PW - GRAFFITI REMOVAL SUPPLIES
107.44 CP - CHRISTMAS TRAIN SUPPLIES
158.63 PW - GRAFFITI REMOVAL SUPPLIES

39.44 PW - FACILITY MNTC SUPPLIES

16.44 PW - FACILITY MNTC SUPPLIES
263.94 PW - FACILITY MNTC SUPPLIES

62.74 CP - CHRISTMAS TRAIN SUPPLIES
349.74 PW - FACILITY MNTC SUPPLIES
100.91 PW - FACILITY MNTC SUPPLIES
101.02 CP - CHRISTMAS TRAIN SUPPLIES
128.24 PW - LANDSCAPE MNTC SUPPLIES
120.57 PW - GRAFFITI REMOVAL SUPPLIES

92.36 PW - FACILITY MNTC SUPPLIES
476.06 CSR - SANTA SNOWFEST EVENT

27.56 PW - STREET MNTC SUPPLIES

83.56 CP - CHRISTMAS TRAIN SUPPLIES
195.79 PW - FACILITY MNTC SUPPLIES

80.01 PW - LANDSCAPE MNTC SUPPLIES
113.89 CP - CHRISTMAS TRAIN SUPPLIES
329.88 PW - FACILITY MNTC SUPPLIES

73.47 PW - FACILITY MNTC SUPPLIES
198.01 CP - CHRISTMAS TRAIN SUPPLIES
173.41 CP - CHRISTMAS TRAIN SUPPLIES

18.72 CP - CHRISTMAS TRAIN SUPPLIES
144.80 PW - GRAFFITI REMOVAL SUPPLIES
120.57 PW - GRAFFITI REMOVAL SUPPLIES

73.72 PW - FACILITY MNTC SUPPLIES
573.30 PW - GRAFFITI REMOVAL SUPPLIES
231.39 CSR - SANTA SNOWFEST EVENT
161.92 PW - FACILITY MNTC SUPPLIES
120.57 PW - GRAFFITI REMOVAL SUPPLIES
330.78 PW - STREET MNTC SUPPLIES

71.98 PW - STREET MNTC SUPPLIES
150.99 PW - STREET MNTC SUPPLIES

90.59 PW - STREET MNTC SUPPLIES

31.50 PW - GRAFFITI REMOVAL SUPPLIES

79.95 PW - GRAFFITI REMOVAL SUPPLIES

19.55 PW - FACILITY MNTC SUPPLIES
158.84 PW - FACILITY MNTC SUPPLIES
213.60 PW - GRAFFITI REMOVAL SUPPLIES
148.11 PW - GRAFFITI REMOVAL SUPPLIES
149.39 PW - FACILITY MNTC SUPPLIES

91.64 PW - FACILITY MNTC SUPPLIES
376.33 PW - GRAFFITI REMOVAL SUPPLIES

85.09 PW - FACILITY MNTC SUPPLIES
-181.39 PW - STREET MNTC SUPPLIES
Vendor Tota 9,430.98

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332094 HUMAN SERVICES ASSOCIATION 6,703.35 CSR - ENP MEALS (11/23) 2,230.00 CP - SENIOR THANKSGIVING DINNER
332269 674.00 CSR - ENP SPECIAL EVENT MEALS (10/19)
658.00 CSR - ENP SPECIAL EVENT MEALS (9/14)
Vendor Tota 10,265.35
332419 IDC CONSULTING ENGINEERS, INC 48,147.21 CIP - ROSECRANS BRIDGE (6/23-12/23-HBR) Vendor Tota 48,147.21
332309 IML SECURITY SUPPLY 283.87 PW - FACILITY MNTC SUPPLIES Vendor Tota 283.87
332192 INFINITY TECHNOLOGIES 27,840.00 GEN - IT CONSULTANT SVCS (12/23) 468.00 GEN - MS OFFICE 365 CLOUD BACKUP (12/23
332270 6,146.00 GEN - ANTIVIRUS LICENSE (FY24)
332377 27,840.00 GEN - IT CONSULTANT SVCS (11/23)
468.00 GEN - MS OFFICE 365 CLOUD BACKUP (11/23
Vendor Tota 62,762.00
332095 INK HEAD DESIGN & PRINTS 2,284.93 CSR - PTLA SUPPLIES (WE) 332398 890.65 PW - UNIFORMS
890.65 PW - UNIFORMS
508.95 PW - UNIFORMS
381.71 PW - UNIFORMS
508.95 PW - UNIFORMS
254.48 PW - UNIFORMS
690.29 PW - UNIFORMS
1,055.73 PW - UNIFORMS
284.24 PW - UNIFORMS
203.03 PW - UNIFORMS
162.42 PW - UNIFORMS

81.20 PW - UNIFORMS
1,858.50 CSR - STAR SUPPLIES
1,212.75 CSR - STAR SUPPLIES
255.56 PW - UNIFORMS
390.85 PW - UNIFORMS
105.23 PW - UNIFORMS

75.16 PW - UNIFORMS

60.13 PW - UNIFORMS

30.07 PW - UNIFORMS
582.47 CSR - UNIFORMS
410.19 CSR - STAR UNIFORMS
181.47 CP - TREE LIGHTING EVENT
170.00 CSR - STAR SUPPLIES
107.93 CSR - UNIFORMS

86.00 CSR - UNIFORMS
Vendor Tota 13,723.54
332115 INTERFACE SYSTEMS, LLC 343.32 PS - FIRE MONITORING SVC (1/24-3/24) Vendor Tota 343.32

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
16900 INTERNAL REVENUE SERVICE 31,629.15 FED PAYROLL TAX - PPE 12/29 11,985.58 MEDICARE PAYMENT - PPE 12/29
16908 10.68 MEDICARE PAYMENT - SPEC 12/29
16923 11.88 MEDICARE PAYMENT - SPEC 1/12
16929 33,460.98 FED PAYROLL TAX - PPE 1/12
12,944.98 MEDICARE PAYMENT - PPE 1/12
16947 2.40 FED PAYROLL TAX - SPEC 1/18
16955 21.30 MEDICARE PAYMENT - SPEC 1/26
16958 90.24 MEDICARE PAYMENT - SPEC 1/25
16960 16.20 MEDICARE PAYMENT - SPEC 1/25
Vendor Tota 90,173.39
332310 J & B MATERIALS 181.40 PW - FACILITY MNTC SUPPLIES Vendor Tota 181.40
332116 JANKOVICH COMPANY, LLC 1,555.44 PS - FLEET FUEL (12/15 - 12/21) 157.58 PS - FLEET FUEL (12/15 - 12/21)
332131 101.07 PL - FLEET FUEL (11/1 - 11/7)
332158 1,420.26 PS - FLEET FUEL (12/22 - 12/31)

80.75 PS - FLEET FUEL (12/22 - 12/31)

71.01 PS - FLEET FUEL (12/22 - 12/31)
332246 1,398.32 PS - FLEET FUEL (1/1 - 1/7)

79.94 PS - FLEET FUEL (1/1 - 1/7)

50.32 PS - FLEET FUEL (1/1 - 1/7)
332271 88.46 PL - FLEET FUEL (1/1 - 1/7)
332311 95.70 CSR - FLEET FUEL (12/15 - 12/21)
332356 1,841.03 PS - FLEET FUEL (1/8 - 1/14)

15.83 PS - FLEET FUEL (1/8 - 1/14)
332399 1,636.10 PS - FLEET FUEL (1/15 - 1/21)
1,461.68 PW - FLEET FUEL (1/8 - 1/14)
1,433.30 PW - FLEET FUEL (12/22 - 12/31)
1,343.29 PW - FLEET FUEL (1/1 - 1/7)
1,285.17 PW - FLEET FUEL (1/1 - 1/7)
852.70 PW - FLEET FUEL (12/15 - 12/21)
851.04 PW - FLEET FUEL (12/15 - 12/21)
703.71 PW - FLEET FUEL (12/22 - 12/31)
632.37 PW - FLEET FUEL (1/8 - 1/14)
296.07 PW - FLEET FUEL (1/1 - 1/7)
232.09 PW - FLEET FUEL (12/15 - 12/21)
185.02 PW - FLEET FUEL (12/15 - 12/21)
157.03 PW - FLEET FUEL (1/1 - 1/7)
150.56 PW - FLEET FUEL (12/15 - 12/21)
135.53 PS - FLEET FUEL (1/15 - 1/21)
131.87 PW - FLEET FUEL (1/8 - 1/14)
129.35 PW - FLEET FUEL (1/1 - 1/7)
118.41 PW - FLEET FUEL (1/8 - 1/14)
109.56 PW - FLEET FUEL (1/8 - 1/14)
103.07 PS - FLEET FUEL (1/15 - 1/21)

97.39 PW - FLEET FUEL (12/22 - 12/31)

81.56 PW - FLEET FUEL (12/22 - 12/31)

73.12 PW - FLEET FUEL (12/15 - 12/21)

46.21 PW - FLEET FUEL (1/8 - 1/14)
Vendor Tota 19,201.91
332247 JASON GOLSON CONSTRUCTION, INC 5,035.80 PW - FACILITY MNTC SVCS 1,348.00 PW - FACILITY MNTC SVCS
Vendor Tota 6,383.80
332159 JCS AUTOMATION, LLC 1,518.10 PW - WATER OPER MNTC SVCS Vendor Tota 1,518.10

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332210 JHM SUPPLY LANDSCAPE AND 427.98 PW - LANDSCAPE MNTC SUPPLIES 332420 526.28 PW - LANDSCAPE MNTC SUPPLIES
Vendor Tota 954.26
332421 JOE GONSALVES & SON INC 3,300.00 CC - STATE LEGISLATIVE LOBBYIST (2/24) Vendor Tota 3,300.00
332160 JOE'S AUTO UPHOLSTERY 872.50 PW - FACILITY MNTC SUPPLIES Vendor Tota 872.50
332312 JOHN L HUNTER 4,756.41 PW - NPDES CONSULTING SVCS (10/23) 332422 756.50 CIP - SPANE PARK STORMWATER CAPTURE
Vendor Tota 5,512.91
332231 JOSE TEJADA 220.00 CSR - SENIOR ENTERTAINMENT (1/25-WE) Vendor Tota 220.00
332161 JUNIOR'S CONSTRUCTION, INC 8,369.90 PW - CLRWTR WINDOW REPAIRS 6,600.00 CIP - CITY HALL RESTROOM RENOVATION
750.00 PW - FACILITY MNTC SVCS
332313 25,109.70 PW - CLRWTR WINDOW REPAIRS
1,800.00 PW - FACILITY MNTC SVCS
332423 20,922.50 CIP - CITY CONF ROOM UPGRADE
Vendor Tota 63,552.10
332424 JV ICE PARAMOUNT LLC 905.00 CSR - ADAPTIVE RECREATION EVENT(2/17-WE Vendor Tota 905.00
332425 KELTERITE CORPORATION 313.29 PW - STREET MNTC SUPPLIES Vendor Tota 313.29
332162 KILEY & ASSOCIATES, LLC 3,500.00 CC - FEDERAL LEGISLATIVE LOBBYIST(12/23 Vendor Tota 3,500.00
332314 KONE, INC 1,304.34 PW - CLRWTR ELEVATOR MNTC (1/24 - 3/24) Vendor Tota 1,304.34
332193 KOSMONT REALTY 664.30 AS - ECONOMIC DEVELOPMENT SVCS(RE-11/23 Vendor Tota 664.30
332211 L A COUNTY DEPT OF PUBLIC WORK 1,307.76 PW - INDUSTRIAL WASTE SVCS (11/23) 332426 841.23 PW - INDUSTRIAL WASTE SVCS (12/23)
183.20 PW - TRAFFIC SIGNAL CONTROLLER TESTING
Vendor Tota 2,332.19
332117 L A COUNTY SHERIFF 19,542.63 PS - CRIME SUPPRESSION (SCOPS) - 11/23 15,809.26 PS - SPECIAL OPERATION (11/23)
14,920.95 PS - STREET RACING ENFORCEMENT (11/23)
10,900.78 PS - TRAFFIC ENFORCEMENT (11/23)
10,885.28 PS - TRANSIT ENFORCEMENT (11/23)
7,494.10 PS - PARTY PATROL (SCOPS) - 11/23
4,833.12 PS - SUPERVISOR OVERTIME (11/23)
332378 532,582.01 PS - GENERAL LAW ENFORCEMENT (12/23)
149,756.28 PS - SPECIAL ASSIGNMENT OFFICER (12/23)
54,384.88 PS - SWORN SUPERVISION (12/23)
561.68 PS - VEHICLE MDC (12/23)
8,820.08 PS - B/W PATROL VEHICLE (12/23)
Vendor Tota 830,491.05
332248 LEAD TECH ENVIRONMENTAL 500.00 PL - ASBESTOS/LEAD TEST(16305 HUNSAKER) Vendor Tota 500.00
332315 LEAGUE OF CALIFORNIA CITIES 20,135.00 CC - CAL CITIES MEMBERSHIP (CY2024) Vendor Tota 20,135.00

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332427 LINCOLN AQUATICS 44,202.74 CIP - PARAMOUNT POOL UPGRADES Vendor Tota 44,202.74
332212 LINDSAY LUMBER CO., INC 22.04 PW - STREET MNTC SUPPLIES

7.38 PW - FACILITY MNTC SUPPLIES
332316 18.39 PW - FACILITY MNTC SUPPLIES

9.90 PW - FACILITY MNTC SUPPLIES

9.47 PW - FACILITY MNTC SUPPLIES

9.47 PW - FACILITY MNTC SUPPLIES

5.50 PW - FACILITY MNTC SUPPLIES
332428 85.88 PW - STREET MNTC SUPPLIES

23.49 PW - FACILITY MNTC SUPPLIES

5.93 PW - FACILITY MNTC SUPPLIES
Vendor Tota 197.45
332429 LONG BEACH TRANSIT 122,592.00 CSR - LB TRANSIT SVCS (10/23 - 12/23) 22,500.00 CSR - LB TRANSIT TAP (10/23 - 12/23)
Vendor Tota 145,092.00
332096 LOS CERRITOS YMCA 880.00 CSR - FREE SWIM - (WE)
195.50 CSR - ADAPTIVE SWIM ASSIST 10/23-LEYVA
195.50 CSR - ADAPTIVE SWIM ASSIST 9/23 - LEYVA
332317 200.00 CSR - ADAPTIVE SWIM ASSIST(8/23-RANGEL)
105.00 CSR - ADAPTIVE SWIM ASSIST(9/23-RANGEL)
105.00 CSR - ADAPTIVE SWIM ASSIST(10/23-RANGEL
195.50 CSR - ADAPTIVE SWIM ASSIST(11/23-LEYVA
143.50 CSR - ADAPTIVE SWIM ASSIST (12/23-LEYVA
332367 200.00 CSR - ADAPTIVE SWIM ASSIST(7/23-MANGRAM
200.00 CSR - ADAPTIVE SWIM ASSIST(8/23-SERRANO
200.00 CSR - ADAPTIVE SWIM ASSIST(8/23-RIVERA)
Vendor Tota 2,620.00
332118 LUCAMBIO, HAROLD 868.00 PS - YAL SVCS (12/16 - 12/29) 332249 961.00 PS - YAL SVCS (12/30 - 1/12)
Vendor Tota 1,829.00
332272 LYONS BUILDING, LLC 54.12 WTR REF - 14522 GARFIELD 332273 54.12 WTR REF - 14520 GARFIELD
Vendor Tota 108.24
332318 M. HARA LAWNMOWER CENTER 893.02 PW - LANDSCAPE MNTC SUPPLIES 803.62 PW - LANDSCAPE MNTC SUPPLIES
Vendor Tota 1,696.64
332357 MACIAS JR., HECTOR 317.55 PS - UNIFORMS (HM)
Vendor Tota 317.55
332366 MAGIC CITY INC 1,060.67 WTR DEP REF - 15528 ILLINOIS Vendor Tota 1,060.67
332097 MAKEITPOP_PARTY DECOR 2,750.00 CSR - SANTA SNOWFEST EVENT Vendor Tota 2,750.00
332163 MALLORY SAFETY AND SUPPLY LLC 1,299.88 PW - UNIFORMS 1,988.07 PW - UNIFORMS
535.25 PW - UNIFORMS
382.32 PW - UNIFORMS
305.86 PW - UNIFORMS
152.93 PW - UNIFORMS
Vendor Tota 4,664.31
332098 MARQUEZ, JORGE RODRIGUEZ 300.00 CSR - SENIOR ENTERTAINMENT (1/18) Vendor Tota 300.00

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332274 MARTINEZ 27.19 WTR REF - 8731 PASEO
332275 27.06 WTR REF - 14910 INDIANA
Vendor Tota 54.25
332164 MARTINEZ, ANTHONY 166.00 FIN - TRAINING REIMBURSEMENT (AM) Vendor Tota 166.00
332213 MCMASTER-CARR SUPPLY CO 763.72 PW - HOUSEHOLD SUPPLIES Vendor Tota 763.72
332132 MDG ASSOCIATES, INC 5,486.00 PL - RES ADMIN (6822 SAN VINCENTE)11/23 290.13 PL - RES ADMIN (15145 CASTANA) - 11/23
3,907.26 PL - HOME PROGRAM ADMIN (11/23)
3,315.50 PL - CDBG PROGRAM ADMIN (11/23)
116.60 PL - DEMAND SVCS (16601 GARFIELD #702)
332379 2,532.00 PL - RES ADMIN (6822 SAN VINCENTE)12/23 2,532.00 PL - RES ADMIN (15145 CASTANA)12/23
4,146.00 PL - CDBG PROGRAM ADMIN (12/23)
937.88 PL - HOME PROGRAM ADMIN (12/23)

79.13 PL - DEMAND SVCS (13227 DOWNEY)

71.50 PL - DEMAND SVCS (15110 COLONY)
Vendor Tota 23,414.00
332358 MEDILAND CORP 167.12 WTR REF - 7027 MOTZ
332359 155.85 WTR REF - 7027 MOTZ
332360 297.11 WTR REF - 7007 MOTZ
Vendor Tota 620.08
332099 MEDINA, EVELIA 100.00 FACILITY DEPOSIT REFUND (MEDINA 9002735 Vendor Tota 100.00
332119 MEZA, MARJORIE 700.00 PS - YAL SVCS (12/16 - 12/29) 332250 775.00 PS - YAL SVCS (12/30 - 1/12)
Vendor Tota 1,475.00
332165 MICHAEL BAKER INTERNATIONAL 12,763.93 CIP - MEDIAN ENHANCEMENTS-2024 (GF) Vendor Tota 12,763.93
332276 MONTEJO 3.92 WTR REF - 7010 SAN VINCENTE
Vendor Tota 3.92
332120 MUNISERVICES/AVENU 5,229.23 FIN - PROF/TECHNICAL SVCS (10/23-12/23) 332430 1,011.50 FIN - PROF/TECH SVCS (AUDIT 10/19-9/22) Vendor Tota 6,240.73
332121 MUNOZ, JOANNA G 840.00 PS - YAL SVCS (12/16 - 12/29) 332251 930.00 PS - YAL SVCS (12/30 - 1/12)
Vendor Tota 1,770.00
332214 NAPA AUTO PARTS 78.29 PW - FACILITY MNTC SUPPLIES 332238 26.00 PW - FACILITY MNTC SUPPLIES
Vendor Tota 104.29
332431 NAVARRO, JOSE 200.00 CSR - OFFICIAL FEE (VOLLEYBALL 2/1) 332432 200.00 CSR - OFFICIAL FEE (VOLLEYBALL 1/25)
Vendor Tota 400.00
332319 NOW DOCS INTERNATIONAL, INC. 198.48 FIN - CHECK STOCK Vendor Tota 198.48
332380 OCEAN BLUE ENVIRONMENTAL SVCS 5,955.18 PW - HAZARDOUS WASTE CLEAN-UP 1,291.46 PW - HAZARDOUS WASTE CLEAN-UP
Vendor Tota 7,246.64

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332400 OFFICE DEPOT, INC. 994.29 CSR - STAR SUPPLIES
954.54 CSR - STAR SUPPLIES
814.01 CSR - STAR SUPPLIES
771.33 CSR - STAR SUPPLIES
238.83 CSR - STAR SUPPLIES
210.65 CSR - STAR SUPPLIES
195.80 CSR - STAR SUPPLIES

56.19 PS - OFFICE SUPPLIES

18.73 CSR - STAR SUPPLIES
Vendor Tota 4,254.37
332215 OFFICE SOLUTIONS 409.53 GEN - OFFICE SUPPLIES
332320 1,383.69 GEN - OFFICE SUPPLIES
360.02 GEN - OFFICE SUPPLIES

79.30 PW - FACILITY MNTC SUPPLIES
Vendor Tota 2,232.54
332277 ONYX PAVING COMPANY INC 677.02 WTR REF - S/W COLORADO & JACKSON 332278 677.02 WTR REF - S/W RACINE & HAPPY
Vendor Tota 1,354.04
16912 OPENEDGE 6,333.94 GEN - UB WEB BANK CHARGES (12/23) Vendor Tota 6,333.94
332321 PACIFIC RIM AUTOMATION, INC. 1,160.00 PW - SCADA SYSTEM MNTC (1/24) Vendor Tota 1,160.00
332100 PARAMOUNT JOURNAL 335.50 PL - PUBLISHED NOTICE (12/21) 242.00 PL - PUBLISHED NOTICE (12/21)
239.25 PL - PUBLISHED NOTICE (12/21)
332322 506.00 CM - PUBLISHED NOTICE (1/4)
Vendor Tota 1,322.75
332323 PARAMOUNT UNIFIED SCHOOL DIST 707.69 CM - GATEWAY CM MEETING (1/11) 332401 495.75 CSR - STAR SUPPLIES
356.50 CSR - STAR SUPPLIES
Vendor Tota 1,559.94
332101 PARAMOUNT YOUTH SOCCER 180.00 CP - YOUTH SCHOLARSHIP PROGRAM Vendor Tota 180.00
332324 PARKINS & ASSOCIATES 1,250.00 PW - PARK MNTC CONSULTANT (12/23) Vendor Tota 1,250.00
16919 PATH POINT MERCHANT SVCS, LLC 419.41 PL - ONLINE PERMIT SVCS (12/23) Vendor Tota 419.41
332166 PENNER PARTITIONS, INC 673.44 PW - FACILITY MNTC SUPPLIES Vendor Tota 673.44
332102 PEOPLESPACE 724.93 GEN - CITY HALL STORAGE CABINETS 332167 5,768.77 CIP - CITY HALL FURNITURE REPL
Vendor Tota 6,493.70
332232 PEREZ, DAILEEN 24.00 CSR - FOLKLORICO/ADULT CLASS (12/23) 120.00 CSR - FOLKLORICO BEYOND SPECTRUM(12/23)
Vendor Tota 144.00
332233 PEREZ-LEON, DANALY 168.00 CSR - FOLKLORICO TOTS CLASS (12/23) 120.00 CSR - FOLKLORICO BEGINNER CLASS (12/23)

72.00 CSR - FOLKLORICO INTER/ADV CLAS (12/23)
Vendor Tota 360.00

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332381 PETTY CASH 524.92 PETTY CASH REPLENISHMENT
Vendor Tota 524.92
332168 POLLARDWATER.COM 309.70 PW - WATER OPER MNTC SUPPLIES 332216 237.69 PW - GENERAL SMALL TOOLS

57.20 PW - GENERAL SMALL TOOLS

26.73 PW - GENERAL SMALL TOOLS
332325 133.86 PW - GENERAL SMALL TOOLS
127.00 PW - GENERAL SMALL TOOLS
Vendor Tota 892.18
332254 POLYDOT 10,831.94 CP - AROUND TOWN (1/24)
332382 74.59 CP - AROUND TOWN (1/24)
Vendor Tota 10,906.53
332217 POOL & ELECTRICAL PRODUCTS,INC 204.96 PW - FACILITY MNTC SUPPLIES Vendor Tota 204.96
332402 PRECISION ELEVATOR 184.00 PW - ELEVATOR MNTC SVCS (10/23) Vendor Tota 184.00
332279 PRODUCTS 53.48 WTR REF - 14514 GARFIELD
Vendor Tota 53.48
332169 PRUDENTIAL OVERALL SUPPLY 71.58 PW - UNIFORM SVC

25.76 PW - UNIFORM SVC

29.58 PW - UNIFORM SVC

19.72 PW - UNIFORM SVC

12.08 PW - UNIFORM SVC

18.12 PW - UNIFORM SVC

12.08 PW - UNIFORM SVC
332218 69.39 PW - UNIFORM SVC

25.76 PW - UNIFORM SVC

29.58 PW - UNIFORM SVC

19.72 PW - UNIFORM SVC

12.08 PW - UNIFORM SVC

18.12 PW - UNIFORM SVC

12.08 PW - UNIFORM SVC
332326 67.17 PW - UNIFORM SVCS

25.76 PW - UNIFORM SVCS

29.58 PW - UNIFORM SVCS

19.72 PW - UNIFORM SVCS

12.08 PW - UNIFORM SVCS

18.12 PW - UNIFORM SVCS

12.08 PW - UNIFORM SVCS
Vendor Tota 560.16
332103 PUNKYS ICE CREAM 120.00 CSR - STAR SUPPLIES

90.00 CSR - STAR SUPPLIES
Vendor Tota 210.00
332104 PURE IMAGINATION PARTY COMPANY 2,446.25 CP - CHRISTMAS TRAIN EVENT Vendor Tota 2,446.25
332327 RALPH ANDERSEN & ASSOCIATES 3,480.00 PW - WATER DEPT ORGANIZATION REVIEW 1,200.00 HR - CLASSIFICATION STUDY(CS SUPERVISOR
Vendor Tota 4,680.00
332403 RAYVERN LIGHTING SUPPLY CO INC 1,800.06 PW - FACILITY MNTC SUPPLIES 1,724.09 PW - FACILITY MNTC SUPPLIES
1,633.63 PW - FACILITY MNTC SUPPLIES
1,609.10 PW - FACILITY MNTC SUPPLIES
Vendor Tota 6,766.88

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332105 RAZZOUK, MARC 750.00 CSR - PHIT INSTRUCTOR (12/23) Vendor Tota 750.00
332170 RDC-S111, INC 3,502.75 CIP - PROGRESS PLAZA IMPROVEMENTS 300.00 CIP - CIVIC CENTER FOUNTAIN DESIGN
332433 11,500.00 PL - AL FRESCO DESIGN (12/23)
Vendor Tota 15,302.75
332328 RED WING SHOE STORE 200.00 PW - WORKBOOTS
200.00 PW - WORKBOOTS
Vendor Tota 400.00
332234 REGISTRAR-RECORDER/L.A. COUNTY 75.00 PL - PUBLISHED NOTICE (2/8) Vendor Tota 75.00
332434 RESOURCE ENVIRONMENTAL INC 9,900.00 PL - DEMOLITION SVCS (16305 HUNSAKER) Vendor Tota 9,900.00
332171 RIVERA'S POWER EQUIPMENT 705.59 PW - LANDSCAPE MNTC SUPPLIES Vendor Tota 705.59
332280 RIVERA, JULIO 200.00 CSR - SENIOR SPECIAL EVENT (12/29-WE) 200.00 CSR - SENIOR SPECIAL EVENT (11/3-WE)
Vendor Tota 400.00
332329 ROADLINE PRODUCTS INC 2,499.37 PW - STREET MNTC SUPPLIES Vendor Tota 2,499.37
332361 RODRIGUEZ, ANGELO 317.55 PS - UNIFORMS (AR)
Vendor Tota 317.55
332330 RON'S MAINTENANCE 12,300.00 PW - CATCH BASIN MNTC (12/23) Vendor Tota 12,300.00
332172 ROYAL PAPER CORPORATION 1,513.00 PW - HOUSEHOLD SUPPLIES 1,513.00 PW - HOUSEHOLD SUPPLIES
332219 713.67 PW - JANITORIAL SVCS
Vendor Tota 3,739.67
332435 RUSH ORDER TEES 2,344.71 CSR - YOUTH SPORTS UNIFORMS Vendor Tota 2,344.71
332220 S & J SUPPLY CO. 6,473.44 PW - WATER OPER MNTC SUPPLIES 1,267.69 PW - WATER OPER MNTC SUPPLIES
332331 1,334.29 PW - WATER OPER MNTC SUPPLIES
Vendor Tota 9,075.42
332106 SAUCEDO, INGRID 225.00 CSR - SENIOR SPECIAL EVENTS (12/23) Vendor Tota 225.00
332332 SCA OF CA, LLC 17,384.90 PW - STREET SWEEPING (12/23) Vendor Tota 17,384.90
332436 SECTRAN SECURITY INC 735.40 GEN - ARMORED CAR SVC (1/24) Vendor Tota 735.40
332362 SEPULVEDA, MARTIN 317.55 PS - UNIFORMS (MS)
Vendor Tota 317.55
332122 SIERRA ERGONOMICS, INC 526.40 RM - ERGONOMIC ASSESSMENT (DR) Vendor Tota 526.40
332404 SITEONEMEDIA CORPORATION 500.00 CP - CHRISTMAS TRAIN EVENT Vendor Tota 500.00

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332107 SMART & FINAL IRIS CO 234.17 CSR - PEP SUPPLIES
124.56 CSR - STAR SUPPLIES
332138 189.07 CSR - RECREATION SUPPLIES

52.07 CSR - STAR SUPPLIES
332221 146.31 PW - FACILITY MNTC SUPPLIES
332235 41.98 CSR - STAR SUPPLIES
Vendor Tota 788.16
332222 SMITH PAINT 1,004.95 PW - GRAFFITI REMOVAL SUPPLIES 332333 59.20 PW - GRAFFITI REMOVAL SUPPLIES
Vendor Tota 1,064.15
332334 SMOKE & FIRE SOCIAL EATERY 606.13 GEN - CC MEETING EXPENSE (1/23) Vendor Tota 606.13
332335 SO CAL INDUSTRIES 2,346.19 PW - FACILITY MNTC SVCS Vendor Tota 2,346.19
332223 SO CALIF SECURITY CENTERS, INC 10,401.51 PW - SECURITY INSTALLATION Vendor Tota 10,401.51
332123 SOUTHERN CALIF NEWSPAPER GROUP 37.09 PS - PUBLICATIONS (12/23) Vendor Tota 37.09
332281 SOUTHWEST PATROL, INC 15,417.50 CSR - PK SUPERVISION SVCS (12/16-12/31) 12,810.00 CSR - PK SUPERVISION SVCS (12/1-12/15)
332336 660.00 CC - CC MEETING SECURITY (11/23)
Vendor Tota 28,887.50
332224 SPECTRUM 769.92 GEN - INTERNET SVCS (1/24)
Vendor Tota 769.92
332133 STATE DISBURSEMENT UNIT 430.00 PAYROLL DEDUCTION - PPE 12/29 332290 430.00 PAYROLL DEDUCTION - PPE 1/12
332134 115.38 PAYROLL DEDUCTION - PPE 12/29
332291 115.38 PAYROLL DEDUCTION - PPE 1/12
Vendor Tota 1,090.76
332173 STEPHEN DORECK 8,167.56 PW - WATER LEAK REPAIR (7022 MYRRH) Vendor Tota 8,167.56
332236 STEPHENS, ALLISON 150.00 FACILITY DEPOSIT REFUND (STEPHENS 8351) Vendor Tota 150.00
332174 STEVE A FILARSKY 175.00 HR - LEGAL SVCS (12/23)
Vendor Tota 175.00
332255 SUBWAY 233.74 HR - JPIA TRAINING (1/16)
197.78 HR - JPIA TRAINING (1/17)
Vendor Tota 431.52
332175 SUPERIOR OFFICE PRODUCTS 509.00 PS - OFFICE SUPPLIES Vendor Tota 509.00
332282 SUPERIOR PROTECTION SERVICES 1,483.22 CSR - PK SUPERVISION SVCS (5/6-5/12)-PP 1,197.00 CSR - PK SUPERVISION SVCS (6/23)-PP
Vendor Tota 2,680.22
332176 SWRCB ACCOUNTING OFFICE 26,498.00 PW - MS4 ANNUAL PERMIT FEE 20,085.00 PW - ANNUAL PERMIT FEE (CS)
868.00 PW - ANNUAL PERMIT FEE (WS)
Vendor Tota 47,451.00

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332177 TAYLOR'S LOCK & KEY SVCS 13.11 PW - FACILITY MNTC SUPPLIES 332363 201.46 PS - OFFICE SUPPLIES
Vendor Tota 214.57
332178 TEAMSTERS LOCAL 911 598.00 UNION DUES - PPE 12/29 332337 598.00 UNION DUES - PPE 1/12
Vendor Tota 1,196.00
332135 THE CAVANAUGH LAW GROUP, APLC 18,744.00 CA - CITY ATTORNEY SVCS (12/23) 7,337.10 PS - CITY PROSECUTOR (12/23)
Vendor Tota 26,081.10
332124 THE PUN GROUP, LLP 5,000.00 FIN - AUDIT SVCS (FY 2023) 1,000.00 FIN - SINGLE AUDIT SVCS (FY 2023)
500.00 FIN - GANN LIMIT REVIEW (FY 2023)
1,500.00 FIN - GAS TAX STREET REPORT (FY 2023)
5,000.00 FIN - AUDIT SVCS - STAR (FY 2023)
2,000.00 FIN - AUDIT SVCS - MEAS W (FY 2023)
Vendor Tota 15,000.00
332252 THE SALVATION ARMY 35,340.00 PS - BELL SHELTER PROGRAM (12/23) Vendor Tota 35,340.00
332108 THE SAUCE CREATIVE SERVICES 1,901.95 CSR - PATHFINDERS PROGRAM MATERIALS

85.00 CSR - RECREATION SUPPLIES

70.00 CSR - PHIT FLYER UPDATE
332383 352.52 CSR - PLAYGROUND RIBBON CUTTING EVENT
159.09 CSR - BANNER OVERLAYS
Vendor Tota 2,568.56
332179 TONY'S GLOVES & SAFETY SUPPLY 1,989.83 PW - HOUSEHOLD SUPPLIES 1,919.26 PW - HOUSEHOLD SUPPLIES
332225 1,504.86 PW - HOUSEHOLD SUPPLIES
Vendor Tota 5,413.95
16913 TOTAL ADMINISTRATIVE SERVICES 962.75 FT FSA - PPE 12/15 16920 1,146.11 FT FSA - PPE 12/29
16953 1,146.11 FT FSA - PPE 1/12
Vendor Tota 3,254.97
332253 TRAN SYSTEMS CORPORATION 6,874.50 PL - RELOCATION SVCS (16305 HUNSAKER) 1,115.00 PL - RELOCATION SVCS (16305 HUNSAKER)
Vendor Tota 7,989.50
332237 TRINITY CONSULTANTS, INC 14,575.32 PL - AIR MONITORING SVCS (12/23-EPA) Vendor Tota 14,575.32
332180 TRIPEPI SMITH & ASSOCIATES 670.00 AS - COMMUNICATIONS CONSULTANT (8/23) 670.00 AS - COMMUNICATIONS CONSULTANT (8/23)
332194 841.25 AS - COMMUNICATIONS CONSULTANT (12/23)
332384 9,081.00 AS - COMMUNICATIONS CONSULTANT (1/24)
Vendor Tota 11,262.25
16914 U S BANK 89,635.79 PW - IBANK-2 INTEREST (2/24)
16915 60,490.86 PW - IBANK-1 INTEREST (2/24)
Vendor Tota 150,126.65

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
16936 U S BANK CORPORATE PAYMENT 72.56 PW - FACILITY MNTC SUPPLIES 319.69 PW - FACILITY MNTC SUPPLIES
290.88 CP - CHRISTMAS TRAIN SUPPLIES
174.02 PW - FACILITY MNTC SUPPLIES

11.04 PW - FACILITY MNTC SUPPLIES
16937 19.22 PS - OFFICE SUPPLIES

62.93 PS - OFFICE SUPPLIES
137.77 PS - OFFICE SUPPLIES
211.28 PS - EOC SATELLITE SVCS (12/23)
136.08 PS - OFFICE SUPPLIES

88.19 PS - OFFICE SUPPLIES

13.00 PS - OFFICE SUPPLIES
562.50 PS - YAL EXCURSION (12/7)
750.00 PS - YAL EXCURSION (12/7)

35.25 PS - COCOA WITH A COP EVENT
123.44 PS - COCOA WITH A COP EVENT
210.00 PS - CACEO RECERTIFICATION (NH)
100.00 PS - CACEO MEMBERSHIP (BC)
210.00 PS - CACEO RECERTIFICATION (BC)
146.65 PS - OFFICE SUPPLIES
16938 925.35 PS - OFFICE SUPPLIES

70.73 PS - CSO INTERVIEW PANEL
145.92 PS - LASD MEETING EXPENSE (12/7)
695.34 PS - YAL SUPPLIES
176.79 PS - LASD MEETING EXPENSE (12/22)
16939 153.75 PW - ABPA ANNUAL CONFERENCE (BL)
153.75 PW - ABPA ANNUAL CONFERENCE (OG)
675.00 PW - LOCC CONFERENCE
363.69 PW - UNIFORMS
174.02 PW - FACILITY MNTC SUPPLIES

24.99 PW - UNIFORMS
466.35 PW - UNIFORMS
384.89 PW - UNIFORMS
424.34 PW - UNIFORMS
264.56 PW - UNIFORMS
165.30 PW - UNIFORMS
16940 515.00 FIN - CSMFO ANNUAL CONF (JC)
466.33 FIN - W2 & 1099 FORMS
515.00 FIN - CSMFO ANNUAL CONF (KS)
135.00 FIN - CSMFO MEMEBERSHIP (JDG)
125.00 FIN - CSMFO ANNUAL CONF (KS)

35.00 FIN - CSMFO ANNUAL CONF (KS)
135.00 FIN - CSMFO MEMBERSHIP (KS)
135.00 FIN - CSMFO MEMBERSHIP (JC)
140.00 FIN - CSMFO ANNUAL CONF (KS,CA,AM,JC)

85.98 FIN - GOVERNMENT TAX WEBINAR (12/5)
118.80 FIN - GOVERNMENT TAX WEBINAR (12/6)
135.00 FIN - CSMFO MEMBERSHIP (CA)
16941 950.33 GEN - ADOBE CREATIVE CLOUD
273.61 HR - ANNUAL DEPT APPRECIATION
1,479.00 GEN - E-NEWSLETTER
407.79 AS - US CONFERENCE OF MAYORS (AV)
224.84 HR - EMPLOYEE HOLIDAY MEETING
244.00 HR - SHRM MEMBERSHIP (FY24)
283.80 AS - CCCA LEGISLATIVE TOUR (AV)
549.99 GEN - COMPUTER MNTC SUPPLIES

1.25 GEN - COMPUTER MNTC SUPPLIES
16942 75.00 CM - CCMF ANNUAL MEMBER MEETING
300.00 HR - SURVEY MONKEY SUBSCRIPTION
168.39 CM - CCCA LEGISLATIVE TOUR

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
16942 U S BANK CORPORATE PAYMENT 297.80 CC - US CONFERENCE OF MAYORS (IA) 266.81 CC - CCCA LEGISLATIVE TOUR (IA)
266.81 CC - CCCA LEGISLATIVE TOUR (VCS)
246.80 CC - CCCA LEGISLATIVE TOUR (BO)

46.84 CM - MEETING EXPENSE (12/12)
16943 246.46 PC - PLANNING COMMISSION MEETING
675.00 PC - PLANNING COMMISSION ACADEMY (GW)
675.00 PC - PLANNING COMMISSION ACADEMY (LT)
675.00 PC - PLANNING COMMISSION ACADEMY (DM)
595.00 PL - RADIUS MAPS & LABEL (COLORADO AVE)
675.00 PC - PLANNING COMMISSION ACADEMY (JG)
266.23 PL - HOLIDAY DECORATING CONTEST
300.00 PL - HOLIDAY DECORATING CONTEST

20.00 PL - MMASC NETWORKING EVENT (SB)
319.42 PL-FENCING SVCS(16305 HUNSAKER)GF-ARPA
16944 110.24 CP - CHRISTMAS TRAIN SUPPLIES
114.04 GEN - CC MEETING EXPENSE (11/28)
115.86 CP - CHRISTMAS TRAIN SUPPLIES
-.10 CP - CHRISTMAS TRAIN SUPPLIES (CREDIT)

25.00 CP - CHRISTMAS TRAIN SUPPLIES

25.00 CP - CHRISTMAS TRAIN SUPPLIES

25.00 CP - CHRISTMAS TRAIN SUPPLIES

25.00 CP - CHRISTMAS TRAIN SUPPLIES

25.00 CP - CHRISTMAS TRAIN SUPPLIES

25.00 CP - CHRISTMAS TRAIN SUPPLIES

25.00 CP - CHRISTMAS TRAIN SUPPLIES

25.00 CP - CHRISTMAS TRAIN SUPPLIES

8.36 CP - CHRISTMAS TRAIN SUPPLIES

16.59 CP - CHRISTMAS TRAIN SUPPLIES
264.57 CP - CHRISTMAS TRAIN SUPPLIES

5.99 CP - CHRISTMAS TRAIN SUPPLIES

25.00 CP - CHRISTMAS TRAIN SUPPLIES

35.25 CP - CHRISTMAS TRAIN SUPPLIES

73.91 CP - CHRISTMAS TRAIN SUPPLIES

42.06 CP - CHRISTMAS TRAIN SUPPLIES
397.53 CP - CHRISTMAS TRAIN SUPPLIES

76.02 CSR - RECREATION SUPPLIES

87.91 CP - CHRISTMAS TRAIN SUPPLIES
220.28 CSR - SANTA SNOWFEST EVENT
134.85 CP - CHRISTMAS TRAIN SUPPLIES
314.40 CSR - STAR SUPPLIES
305.00 CSR - STAR SUPPLIES

68.36 CSR - STAR SUPPLIES
192.09 CSR - STAR SUPPLIES
132.03 CSR - PEP SUPPLIES
231.78 CSR - PEP SUPPLIES
191.87 CSR - STAR SUPPLIES

28.50 CSR - ADAPTIVE RECREATION EVENT

17.20 GEN - CC MEETING EXPENSE (12/12)
290.83 CSR - STAR SUPPLIES
133.90 CSR - MOVIE NIGHT EVENT (12/15)
132.87 CSR - MOVIE NIGHT EVENT (12/15)

21.98 CSR - MEETING EXPENSE (12/13)

98.00 CSR - RECREATION SUPPLIES

10.98 CSR - STAR SUPPLIES
346.17 CSR - PEP SUPPLIES

55.60 CSR - STAR SUPPLIES
182.81 CSR - STAR SUPPLIES
221.46 CSR - PEP SUPPLIES
203.95 CSR - RECREATION SUPPLIES

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
16944 U S BANK CORPORATE PAYMENT 53.99 CSR - STAR SUPPLIES 113.78 CSR - PEP SUPPLIES

98.11 CSR - PEP SUPPLIES

43.99 CSR - PEP SUPPLIES
272.98 CSR - STAR SUPPLIES

35.00 CSR - STAR SUPPLIES
175.21 CSR - PRESCHOOL SUPPLIES
137.87 CSR - STAR SUPPLIES

76.70 CSR - PEP SUPPLIES
203.95 CSR - RECREATION SUPPLIES
203.95 CSR - RECREATION SUPPLIES
569.39 CSR - STAR SUPPLIES
110.30 CSR - PEP SUPPLIES
154.61 CSR - STAR SUPPLIES
16945 2,430.00 CSR - CITYWIDE EXCURSION (12/14)
Vendor Tota 31,798.52
332338 U S POSTAL SVC/ U S POSTMASTER 1,580.00 FIN - POST OFFICE BOX FEE (2024) 332368 3,000.00 FIN - BULK MAIL PERMIT #3
Vendor Tota 4,580.00
332226 ULINE SHIPPING SUPPLY 444.27 PS - OFFICE SUPPLIES 333.47 PS - OFFICE SUPPLIES
-334.97 PS - OFFICE SUPPLIES (CREDIT)
Vendor Tota 442.77
332339 UNDERGROUND SERVICE ALERT 330.22 PW - WATER OPER MNTC SVCS (12/23) 115.00 PW - WATER OPER MNTC SVCS (12/23)
Vendor Tota 445.22
332136 UNITED STATES TREASURY 636.00 PAYROLL DEDUCTION - PPE 12/29 Vendor Tota 636.00
332181 UNIVAR USA 467.39 PW - WATER OPER MNTC SUPPLIES
332227 1,985.26 PW - FACILITY MNTC SUPPLIES
1,680.29 PW - WATER OPER MNTC SUPPLIES
903.40 PW - FACILITY MNTC SUPPLIES
332340 592.03 PW - WATER OPER MNTC SUPPLIES
Vendor Tota 5,628.37
332125 URIAS, TERRI E 200.00 PS - HOME SECURITY REBATE PROGRAM Vendor Tota 200.00
332228 US BANK VOYAGER FLEET 209.35 PW - CNG FUEL (12/23) Vendor Tota 209.35
332137 V V & G CONSTRUCTION 7,746.00 PL - RES REHAB (6822 SAN VICENTE) Vendor Tota 7,746.00
332437 VALVERDE CONSTRUCTION 20,528.90 PW - WATER SVC REPAIR (14020 ORANGE) Vendor Tota 20,528.90
332283 VEGA JR 26.94 WTR REF - 8239 CENTURY
Vendor Tota 26.94

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332182 VERIZON WIRELESS - LA 10.02 GEN - EOC CELLULAR & P/R DEVICE (12/23)

38.01 AS - CELLULAR SERVICE (12/23)

52.93 CM - CELLULAR SERVICE (12/23)
411.51 CSR - CELLULAR SERVICE (12/23)
1,312.98 CSR - STAR CELLULAR SERVICE (12/23)
114.03 PL - CELLULAR SERVICE (12/23)
228.06 PS - CELLULAR SERVICE (12/23)
541.52 PS - CELLULAR SERVICE (12/23)

38.01 PW - USB AIRCARD WELL #14 (12/23)
385.17 PW - CELLULAR SERVICE (12/23)

42.12 AS - SOCIAL MEDIA CELLULAR SVC (12/23)
1,355.32 AS - CELLULAR EQUIPMENT (SOCIAL MEDIA)
Vendor Tota 4,529.68
332183 VIDIFLO, LLC 4,662.42 CIP - MARIPOSA A/V REPLACEMENT 332184 660.00 GEN - A/V SYSTEM MNTC
332284 9,324.56 CIP - MARIPOSA A/V REPLACEMENT
332285 2,597.01 GEN - SOCIAL MEDIA PRESENTER REPL
Vendor Tota 17,243.99
332185 VITAL RECORDS HOLDINGS, LLC 90.62 GEN - SHREDDING SVCS (11/23) 332385 90.65 GEN - SHREDDING SVCS (12/23)
Vendor Tota 181.27
332364 WALMART COMMUNITY 570.88 CSR - SANTA SNOWFEST EVENT 188.13 CSR - STAR SUPPLIES
119.27 CSR - STAR SUPPLIES

39.65 CSR - ADAPTIVE RECREATION SUPPLIES

86.40 CSR - STAR SUPPLIES
373.92 CSR - STAR SUPPLIES
396.83 CSR - STAR SUPPLIES
163.50 CSR - STAR SUPPLIES
456.39 CSR - STAR SUPPLIES
240.11 CSR - STAR SUPPLIES
644.35 CSR - STAR SUPPLIES
160.57 CSR - STAR SUPPLIES
154.94 CSR - STAR SUPPLIES

81.28 CSR - STAR SUPPLIES
Vendor Tota 3,676.22
332229 WALTERS WHOLESALE 175.14 PW - FACILITY MNTC SUPPLIES Vendor Tota 175.14
332186 WECK LABORATORIES, INC. 432.00 PW - WATER CHEMICAL TESTING

45.00 PW - WATER CHEMICAL TESTING
332230 452.00 PW - WATER CHEMICAL TESTING
Vendor Tota 929.00
332187 WEST COAST ARBORISTS, INC 11,627.40 PW - TREE MNTC SVCS (11/16 - 11/30) 332341 15,404.00 PW - TREE MNTC SVCS (12/1 -12/15)
10,170.00 PW - TREE MNTC SVCS
Vendor Tota 37,201.40
332342 WEST COAST SAND & GRAVEL INC. 708.07 PW - STREET MNTC SUPPLIES Vendor Tota 708.07
332365 WESTERLY METER SERVICE COMPANY 560.00 PW - WATER OPER MNTC SVCS Vendor Tota 560.00
332188 WHITE CAP, L.P. 44.62 PW - STREET MNTC SUPPLIES
332343 171.75 PW - WATER OPER MNTC SUPPLIES
Vendor Tota 216.37

Check Number Vendor Name Amount Description

CITY OF PARAMOUNT

FINAL CHECK REGISTER
January 31, 2024
Pre-issue Checks
332189 WILLDAN ASSOCIATES, INC 42,000.00 CIP - NEIGHBORHOOD STREET RESURF 29,600.00 CIP - ARTERIAL STREET RESURF
25,783.75 PW - GENERAL ENG SVCS (11/23)
21,895.00 CIP - TRAFFIC SIGNAL (ALONDRA/PASSAGE)
14,950.00 CIP - TRAFFIC SAFETY IMP (11/23)
11,640.00 CIP - ARTERIAL STREET RESURF
8,500.00 CIP - ALLEY IMPROVEMENTS (11/23)
2,267.50 PW - GENERAL ENG SVCS (FAIRLOCK)
2,094.00 PW - TRAFFIC ENG SVCS (11/23)
1,500.00 CIP - TRAFFIC SAFETY IMP
451.75 CIP - TRAFFIC SAFETY IMP (HUNSAKER)

92.00 PW - GENERAL ENG SVCS (E&T SURVEY)
Vendor Tota 160,774.00
16916 XPRESS BILL PAY 47.05 GEN - ONLINE PERMIT CC FEES (12/23) Vendor Tota 47.05
A total of 416 checks were issued for $4,342,408.12

To: Honorable City Council
From: John Moreno, City Manager
By: Kim Sao, Finance Director
Date: February 13, 2024
SUBJECT: TREASURER’S REPORT FOR THE QUARTER ENDING DECEMBER 31, 2023

BACKGROUND
The City’s Finance Department is responsible for managing the cash and investment portfolio for the City, Successor Agency for the Paramount Redevelopment Agency, and Paramount Housing Authority. The City’s investment policy was last revised and adopted on June 13, 2023. The California Municipal Treasurers Association (CMTA) certified that the investment policy of the City of Paramount complies with the current State statutes governing the investment practices of local government entities located within the State of California. The City’s primary investment objectives are to preserve the safety of principal, maintain an adequate level of liquidity, and maximize investment income while remaining consistent with the other more important objectives.

DISCUSSION
As of December 31, 2023, the City’s portfolio totaled $68,017,502. This was composed of $13,782,528 in liquid balances and $54,234,974 in investments. For the quarter, the total interest received was approximately $493,151.

The City maintains its liquid balances mainly in the California Asset Management Program (CAMP) Pool account to take advantage of the higher interest rate that averaged

5.56%, while LAIF only averaged 4.00% for this quarter. The CAMP account has a same day liquidity similar to LAIF.

The investments, which include agencies, treasuries, and certificates of deposits, have a par value of $55,457,000 with an average yield of 4.10% and maturity dates ranging from one month to five years. The City’s investments are purchased and held until maturity. For the quarter ending December, the City had no investment activities, including purchases or maturities.

The City’s investment portfolio is in compliance with the City’s Investment Policy and has sufficient cash flow from a combination of liquid balances, maturing securities, and income to meet the City’s expenditure requirements for the next six months.

Agenda Report February 13, 2024
TREASURER’S REPORT – QUARTER ENDING DECEMBER 31, 2023 Page 2

FISCAL IMPACT
None

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 6: Efficient, Effective, and Fiscally Responsible - Deliver an efficient and effective City government in a fiscally responsible, transparent and collaborative manner.

RECOMMENDED ACTION
Receive and file the Treasurer’s Report
City of Paramount

TREASURER'S REPORT
Liquid Balances and Investments

SCHEDULE I: SUMMARY OF LIQUID BALANCES AND INVESTMENTS
LIQUID BALANCES INVESTMENTS (1) TOTAL
ACCOUNTS December 31, 2023 December 31, 2023 December 31, 2023 (SCH II & SCH III) (SCH III)
Checking Account - City $ 3,957,475 - 3,957,475
Checking Account - Successor Agency 33,081 - 33,081
Checking Account - Paramount Housing Authority 308,582 - 308,582 Checking Account - Payroll 25,425 - 25,425
Subtotal Checking Accounts $ 4,324,563 - 4,324,563
Investment - City 7,595,695 54,234,974 61,830,669
Investment - Successor Agency 5,196 - 5,196
Investment - Fiscal Agent 1,857,074 - 1,857,074
Subtotal Investments $ 9,457,965 54,234,974 63,692,939
Total Liquid Balances and Investments $ 13,782,528 54,234,974 68,017,502 SCHEDULE II: SUMMARY OF CHECKING ACCOUNTS ACTIVITY

BALANCE BALANCE
ACCOUNTS October 1, 2023 RECEIPTS DISBURSEMENTS December 31, 2023 General Operation Account (2) $ 2,118,155 22,173,624 20,334,304 3,957,475 Successor Agency Account 286,481 - 253,400 33,081
Paramount Housing Authority Account 409,189 - 100,607 308,582 Payroll Account 44,314 2,211,947 2,230,836 25,425
Total All Accounts $ 2,858,139 24,385,571 22,919,147 4,324,563 NOTES:
(1) Investments are shown at their book value.
(2) Receipts may include transfers-in from investment accounts.

Disbursements may include transfers-out to investment accounts.

Based upon existing cash reserves and projected cash receipts and disbursements, there are sufficient funds to meet the City of Paramounts's estimated future expenditure requirements for a period of six months. Additionally, all investments are made in accordance with the Investment Policy for Fiscal Year 2023-24 as approved by the Paramount City Council in June 2023.

October 1 to December 31, 2023
City of Paramount

TREASURER'S REPORT
Investments

SCHEDULE III: INVESTMENT SCHEDULE

PURCHASE MATURITY INTEREST INVESTMENT INVESTMENT INVESTMENT SECURITY BY ACCOUNT/INSTITUTION DATE DATE RATE (3) BOOK VALUE PAR VALUE MARKET VALUE (4) I. Liquid Balances in Investments
City
California Asset Management (CAMP) N/A N/A 5.55% $ 7,309,008 NA 7,309,008 Local Agency Investment Fund (LAIF) N/A N/A 3.93% 286,687 NA 286,687 US Bank - Money Market N/A N/A 1.00% - NA -
Subtotal City 7,595,695 - 7,595,695
Successor Agency
Local Agency Investment Fund (LAIF) N/A N/A 3.93% 5,196 NA 5,196 Subtotal Successor Agency 5,196 - 5,196
Fiscal Agent (2)
2010/2015 Bond Issues:

Fidelity Treasury Money Market N/A N/A 4.98% 1,849,230 NA 1,849,231 2021 Bond Issues:

Fidelity Treasury Money Market N/A N/A 4.98% 7,844 NA 7,844 Subtotal Fiscal Agent 1,857,074 1,857,075
Total Liquid Balances 9,457,965 - 9,457,966
II. Investments
US Bank (Investment Custody Account) 54,234,974 55,457,000 54,475,408 Total Investments / Non-Liquid 54,234,974 55,457,000 54,475,408 Grand Total Investments $ 63,692,939 55,457,000 63,933,374 NOTES:
(1) The City maintains separate cash and investment pools for the general operations of the City, the Paramount Housing Authority and the Successor Agency for the Paramount Redevelopment Agency. (2) Represents cash held by The Bank of New York Mellon, as trustee for the Paramount Redevelopment Agency's outstanding bond issues. Funds relate to the Reserve and Interest Accounts for the purpose of making debt service payments. (3) Represents average yield rate.
(4) The market value of investments are obtained from statements provided by California Asset Management Program (CAMP), State of California LAIF, The Bank of New York Mellon, and US Bank.

October 1 to December 31, 2023
See Quarterly TVI Report
TVI Platinum Reporting Prepared for:

City of Paramount
As of December 29, 2023
Recipient Info: Provider Info:

City of Paramount Time Value Investments, Inc.
16400 Colorado Avenue 9725 3rd Ave NE, Suite 610
Paramount, CA 90723 Seattle, WA 98115
Disclaimer:

Information contained within investment reports provided by Time Value Investments, Inc (TVI) are believed to be reliable but may not have been independently verified. TVI does not guaranty, represent or warrant, or accept any responsibility or liability as to, the accuracy, completeness or appropriateness of the information contained in these reports. Information contained herein may not be current due to, among other things, changes in the financial markets or economic environment. Opinions reflected in these reports are subject to change without notice. Forecasts represent estimates.

Investing carries risk of losses. Information provided by Time Value Investments does not constitute, and should not be used as a substitute for, tax, legal or investment advice. Clients retain responsibility for their internal accounting policies, implementing and enforcing internal controls and generating ledger entries or otherwise recording transactions. Market prices on TVI reports are typically derived from the client's custodian's reports. Client is encouraged to confirm that market values on this report match those on custodian’s report. Although TVI believes the prices to be reliable, the values of the securities do not always represent the prices at which the securities could have been bought or sold. Callable securities are subject to redemption prior to maturity and may be redeemed in whole or in part before maturity by the issuer, which could affect the yield represented. Certain call dates may not appear on the report if the call date has passed and if the security is continuously callable. Information provided for credit ratings is based upon a good faith inquiry of selected sources, but its accuracy and completeness is not guaranteed. All opinions expressed in this report constitute the judgments as of the dates indicated and are subject to change without notice. This report is for informative purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any product. Investment in securities involves risks, including the possible loss of the amount invested.

None of the securities in this portfolio are in any way guaranteed from loss.

City of Paramount
Wgtd Avg YTM * 4.10% Sector Par Value YTM * Weight
Wgtd Avg YTM with Liq. Bal.* 4.13% Agencies 14,200,000 4.25% 20.5% Wgtd Avg YTW ** 4.10% Treasuries 22,940,000 3.64% 33.1% Certificates of Deposit 18,317,000 4.57% 26.5%
Wgtd Avg Mat (no call) 2.92 yrs Municipal Bonds
Wgtd Avg Mat with Liq. Bal. 2.34 yrs Corporate Bonds
Wgtd Avg Mat (all called) 2.7 yrs Mortgages
Commercial Paper
Par Value 55,457,000 Total 55,457,000 4.10% 80.1%
Liquid Balances 13,782,528
Total Par with Liquid Bal. 69,239,528 Balance Rate Weight CAMP 7,309,008 5.55% 10.6%
Market Value 12/29/2023 54,475,408 WF Checking 4,324,563 1.65% 6.2% Curent MV with Liquid Bal. 68,075,771 Fiscal Agent 1,857,074 4.98% 2.7% LAIF 291,883 3.93% 0.4%
Total Liquid Balances 13,782,528 4.22% 19.9%
**** All ratings are shown in S&P format.
* Purchase Yield to Maturity ** Purchase Yield to Worst Ratings Do Not Include Liquid Balances. 0 - 3mo 3 - 6mo 6 - 12mo 1 - 2yr 2 - 3yr 3 - 4yr 4 - 5yr 5 - 7yr 7 - 10yr Over 10yr As of As of
12/29/2023 1Mo Ago 3Mos Ago 6Mos Ago 12/31/2022 1Yr Ago 3Yrs Ago 5Yrs Ago Cusip Par Amount Yield to Maturity:

Portfolio 4.10% n/a n/a n/a n/a n/a n/a n/a
2-Year Treasury 4.26% 4.64% 5.03% 4.87% 4.41% 4.34% 0.37% (02/16) 2.52% Fed Funds 5.50% 5.50% 5.50% 5.25% 5.00% 4.50% 4.50% 0.25% 2.50% Performance versus Benchmark as of 12/29/2023 Excluded Securities 1Yr Average
n/a
9Mos Ago
n/a

4.58% 4.08%

5.22%
Portfolio Summary
Maturity Distribution
Portfolio Composition (incl. Liquid Balances) Portfolio Ratings (Best****) Account Name

20.5%

33.1%

26.5%

19.9%
Agencies Treasuries
Certificates of Deposit Liquid Balances
63%
37%
AAA NR

0.0%, $0.0 0.0%, $0.0

9.5%, $5.2MM

18.9%, $10.5MM

23.3%, $12.9MM

20.5%, $11.4MM

27.8%, $15.4MM

0.0%, $0.0 0.0%, $0.0 0.0%, $0.0
$0
$2MM
$4MM
$6MM
$8MM
$10MM
$12MM
$14MM
$16MM
$18MM
2 Report Date: 12/29/2023
City of Paramount
Estimated Estimated
# CUSIP/Sec-ID Sec Desc 1 Weight Par Value Coupon * Settle Dt Mat Dt Nxt Call Dt Rating *** YTM ** YTW ** Duration Call Type Bps to Call Redem. Date 1 9128282U3 T 1 7/8 08/31/24 3.6% 2,000,000 1.88 6/27/2022 8/31/2024 AAA 3.15 3.15 0.65 8/31/2024 2 912828YH7 T 1 1/2 09/30/24 5.4% 3,000,000 1.50 6/27/2022 9/30/2024 AAA 3.15 3.15 0.73 9/30/2024 3 20367GBL2 COMCAL 4.4 12/23/24 0.4% 249,000 4.40 12/22/2022 12/23/2024 NR 4.40 4.40 0.99 12/23/2024 4 3130A4CH3 FHLB 2 3/8 03/14/25 1.8% 1,000,000 2.38 2/2/2023 3/14/2025 AAA 4.22 4.22 1.16 3/14/2025 5 3130AUZC1 FHLB 4 5/8 03/14/25 1.8% 1,000,000 4.63 3/3/2023 3/14/2025 AAA 5.01 5.01 1.14 3/14/2025 6 3135G03U5 FNMA 0 5/8 04/22/25 0.9% 500,000 0.63 11/10/2022 4/22/2025 AAA 4.76 4.76 1.28 4/22/2025 7 9128284R8 T 2 7/8 05/31/25 0.9% 500,000 2.88 11/10/2022 5/31/2025 AAA 4.64 4.64 1.37 5/31/2025 8 91282CEU1 T 2 7/8 06/15/25 1.4% 750,000 2.88 11/10/2022 6/15/2025 AAA 4.63 4.63 1.41 6/15/2025 9 38150VDN6 GS 3.35 07/07/25 0.4% 245,000 3.35 7/6/2022 7/7/2025 NR 3.35 3.35 1.44 7/7/2025 10 795451BQ5 SALLMA 3.4 07/07/25 0.4% 245,000 3.40 7/6/2022 7/7/2025 NR 3.40 3.40 1.42 7/7/2025 11 768169AD6 RIVFAL 5 07/31/25 0.4% 248,000 5.00 7/31/2023 7/31/2025 NR 5.00 5.00 1.59 7/31/2025 12 949764EE0 WFC 5.05 08/01/25 0.4% 248,000 5.05 8/1/2023 8/1/2025 NR 5.05 5.05 1.59 8/1/2025 13 20825WCG3 CNXCRE 5 1/4 08/04/25 0.4% 248,000 5.25 8/3/2023 8/4/2025 NR 5.25 5.25 1.60 8/4/2025 14 62825MAA2 MUTFIR 5.2 08/04/25 0.4% 248,000 5.20 8/3/2023 8/4/2025 NR 5.20 5.20 1.60 8/4/2025 15 31982NAA4 FIRSCO 5 1/2 08/08/25 0.4% 248,000 5.50 8/8/2023 8/8/2025 2/8/2024 NR 5.50 5.50 1.61 Monthly 8/8/2025 16 9128284Z0 T 2 3/4 08/31/25 3.6% 2,000,000 2.75 6/27/2022 8/31/2025 AAA 3.28 3.28 1.59 8/31/2025 17 9128285C0 T 3 09/30/25 5.4% 3,000,000 3.00 6/27/2022 9/30/2025 AAA 3.28 3.28 1.67 9/30/2025 18 3135G0K36 FNMA 2 1/8 04/24/26 1.4% 750,000 2.13 12/19/2022 4/24/2026 AAA 3.84 3.84 2.21 4/24/2026 Portfolio Details - Sorted by Maturity
Maturity Distribution

0.0% 0.0%

9.5%

18.9%

23.3%

20.5%

27.8%

0.0% 0.0% 0.0%
0%
5%
10%
15%
20%
25%
30%
0 - 3mo 3 - 6mo 6 - 12mo 1 - 2yr 2 - 3yr 3 - 4yr 4 - 5yr 5 - 7yr 7 - 10yr Over 10yr 3 Report Date: 12/29/2023
City of Paramount
Estimated Estimated
# CUSIP/Sec-ID Sec Desc 1 Weight Par Value Coupon * Settle Dt Mat Dt Nxt Call Dt Rating *** YTM ** YTW ** Duration Call Type Bps to Call Redem. Date Portfolio Details - Sorted by Maturity
19 78577TJS5 SBDSAV 4.7 05/18/26 0.4% 249,000 4.70 11/17/2022 5/18/2026 NR 4.70 4.70 2.39 5/18/2026 20 9128286X3 T 2 1/8 05/31/26 0.9% 500,000 2.13 7/1/2022 5/31/2026 AAA 3.16 3.16 2.31 5/31/2026 21 9128287B0 T 1 7/8 06/30/26 1.4% 750,000 1.88 12/19/2022 6/30/2026 AAA 3.74 3.74 2.37 6/30/2026 22 3133EPPE9 FFCB 4 3/8 07/06/26 2.7% 1,500,000 4.38 7/6/2023 7/6/2026 AAA 4.51 4.51 2.30 7/6/2026 23 73317ACG5 BPOP 4.7 07/09/26 0.4% 247,000 4.70 7/12/2023 7/9/2026 NR 4.70 4.70 2.53 7/9/2026 24 220802AL6 CORTBK 4.6 07/14/26 0.4% 249,000 4.60 7/14/2023 7/14/2026 NR 4.60 4.60 2.54 7/14/2026 25 110087BB8 BOAKFI 4.6 07/14/26 0.4% 249,000 4.60 7/14/2023 7/14/2026 NR 4.60 4.60 2.54 7/14/2026 26 3133ENV72 FFCB 4 1/2 07/27/26 1.3% 700,000 4.50 11/10/2022 7/27/2026 AAA 4.59 4.59 2.35 7/27/2026 27 70337MHJ0 PNBDIR 4 3/4 07/27/26 0.4% 244,000 4.75 7/26/2023 7/27/2026 NR 4.75 4.75 2.58 7/27/2026 28 37424PAH7 GESACR 5 1/4 07/31/26 0.4% 248,000 5.25 7/31/2023 7/31/2026 NR 5.25 5.25 2.59 7/31/2026 29 67054NBL6 NUMRCA 5.2 07/31/26 0.4% 248,000 5.20 7/31/2023 7/31/2026 NR 5.20 5.20 2.59 7/31/2026 30 88423MAA3 THICOA 4 3/4 07/31/26 0.4% 248,000 4.75 7/31/2023 7/31/2026 NR 4.75 4.75 2.59 7/31/2026 31 909557KV1 UNBKRS 4 3/4 08/04/26 0.4% 248,000 4.75 8/4/2023 8/4/2026 NR 4.75 4.75 2.60 8/4/2026 32 44811LAB6 HUTBNK 4.7 08/04/26 0.4% 244,000 4.70 8/4/2023 8/4/2026 NR 4.70 4.70 2.60 8/4/2026 33 169894AX0 CHIPWI 4 3/4 08/04/26 0.4% 248,000 4.75 8/4/2023 8/4/2026 NR 4.75 4.75 2.60 8/4/2026 34 861821BB1 STONEH 4 3/4 08/07/26 0.4% 248,000 4.75 8/7/2023 8/7/2026 NR 4.75 4.75 2.61 8/7/2026 35 313812EH8 FEDLSB 4.85 08/10/26 0.4% 248,000 4.85 8/9/2023 8/10/2026 NR 4.85 4.85 2.62 8/10/2026 36 336460DQ0 FSBDQN 4 3/4 08/10/26 0.4% 248,000 4.75 8/9/2023 8/10/2026 NR 4.75 4.75 2.62 8/10/2026 37 913109AM6 UNITRB 4 3/4 08/21/26 0.4% 248,000 4.75 8/21/2023 8/21/2026 NR 4.75 4.75 2.65 8/21/2026 38 912828YD6 T 1 3/8 08/31/26 3.6% 2,000,000 1.38 6/27/2022 8/31/2026 NR 3.30 3.30 2.56 8/31/2026 39 3135G0Q22 FNMA 1 7/8 09/24/26 5.4% 3,000,000 1.88 6/27/2022 9/24/2026 AAA 3.33 3.33 2.60 9/24/2026 40 912828Z78 T 1 1/2 01/31/27 3.0% 1,650,000 1.50 9/8/2023 1/31/2027 AAA 4.55 4.55 2.94 1/31/2027 41 87868YAS2 TECHCU 5.1 02/11/27 0.4% 248,000 5.10 8/11/2023 2/11/2027 NR 5.10 5.10 3.12 2/11/2027 42 41138NAB4 HAPOCO 5 02/26/27 0.4% 248,000 5.00 8/31/2023 2/26/2027 NR 5.00 5.00 3.16 2/26/2027 43 3133ELPV0 FFCB 1.53 03/02/27 0.5% 250,000 1.53 9/1/2022 3/2/2027 AAA 3.38 3.38 3.01 3/2/2027 44 03065YAB7 AMEFNE 5.05 03/31/27 0.4% 248,000 5.05 8/31/2023 3/31/2027 NR 5.05 5.05 3.25 3/31/2027 45 91282CEN7 T 2 3/4 04/30/27 1.4% 750,000 2.75 9/1/2022 4/30/2027 AAA 3.33 3.33 3.11 4/30/2027 46 912828X88 T 2 3/8 05/15/27 2.7% 1,500,000 2.38 9/1/2022 5/15/2027 AAA 3.33 3.33 3.17 5/15/2027 47 91282CEW7 T 3 1/4 06/30/27 1.9% 1,040,000 3.25 8/25/2023 6/30/2027 AAA 4.55 4.55 3.20 6/30/2027 48 254673L38 DFS 3.4 07/06/27 0.4% 245,000 3.40 7/6/2022 7/6/2027 NR 3.40 3.40 3.16 7/6/2027 49 02589AD82 AXP 3.4 07/06/27 0.4% 245,000 3.40 7/6/2022 7/6/2027 NR 3.40 3.40 3.18 7/6/2027 50 35907XFH5 FRONTB 4.55 07/14/27 0.4% 249,000 4.55 7/14/2023 7/14/2027 NR 4.55 4.55 3.54 7/14/2027 51 32117BGD4 FNLC 4.55 07/14/27 0.4% 249,000 4.55 7/14/2023 7/14/2027 NR 4.55 4.55 3.54 7/14/2027 52 15140RCW7 CENTIE 4.65 07/26/27 0.4% 244,000 4.65 7/25/2023 7/26/2027 NR 4.65 4.65 3.58 7/26/2027 53 91282CFB2 T 2 3/4 07/31/27 0.5% 250,000 2.75 9/1/2022 7/31/2027 AAA 3.29 3.29 3.31 7/31/2027 54 70086VAW1 PSTBKD 4.6 08/09/27 0.4% 249,000 4.60 8/9/2023 8/9/2027 NR 4.60 4.60 3.61 8/9/2027 55 14042RTN1 COF 3.4 08/10/27 0.4% 245,000 3.40 8/10/2022 8/10/2027 NR 3.40 3.40 3.26 8/10/2027 4 Report Date: 12/29/2023
City of Paramount
Estimated Estimated
# CUSIP/Sec-ID Sec Desc 1 Weight Par Value Coupon * Settle Dt Mat Dt Nxt Call Dt Rating *** YTM ** YTW ** Duration Call Type Bps to Call Redem. Date Portfolio Details - Sorted by Maturity
56 35633MDR0 FREEVA 5.3 08/11/27 0.4% 243,000 5.30 8/11/2023 8/11/2027 2/11/2024 NR 5.30 5.30 3.62 Monthly 8/11/2027 57 16141BAL5 CHTFCU 5 08/11/27 0.4% 248,000 5.00 8/11/2023 8/11/2027 NR 5.00 5.00 3.62 8/11/2027 58 3133ENG87 FFCB 2.92 08/17/27 0.5% 250,000 2.92 9/1/2022 8/17/2027 AAA 3.33 3.33 3.34 8/17/2027 59 560390BW5 BDDEFD 4.45 08/17/27 0.4% 249,000 4.45 8/17/2023 8/17/2027 NR 4.45 4.45 3.64 8/17/2027 60 743738CT1 PROBNC 4.6 08/20/27 0.4% 249,000 4.60 8/21/2023 8/20/2027 NR 4.60 4.60 3.64 8/20/2027 61 25844MBK3 DORTFI 5 08/30/27 0.4% 246,000 5.00 8/28/2023 8/30/2027 NR 5.00 5.00 3.67 8/30/2027 62 91282CFH9 T 3 1/8 08/31/27 0.5% 250,000 3.13 9/1/2022 8/31/2027 AAA 3.27 3.27 3.37 8/31/2027 63 87164WR59 SYF 3 1/2 09/09/27 0.4% 245,000 3.50 9/9/2022 9/9/2027 NR 3.50 3.50 3.70 9/9/2027 64 89235MPB1 TOYFBN 3.6 09/09/27 0.4% 245,000 3.60 9/9/2022 9/9/2027 NR 3.60 3.60 3.33 9/9/2027 65 3130ATS40 FHLB 4 3/8 09/10/27 1.4% 750,000 4.38 11/10/2022 9/10/2027 AAA 4.34 4.34 3.32 9/10/2027 66 732329BD8 PCEFED 3 1/2 09/15/27 0.4% 249,000 3.50 9/15/2022 9/15/2027 NR 3.50 3.50 3.35 9/15/2027 67 31033AAH6 FARMOK 3.85 12/22/27 0.4% 249,000 3.85 12/22/2022 12/22/2027 NR 3.85 3.85 3.98 12/22/2027 68 58404DRF0 MEDBNK 3.9 12/30/27 0.4% 249,000 3.90 12/30/2022 12/30/2027 NR 3.90 3.90 4.01 12/30/2027 69 903572GJ8 UINTAB 4.4 01/12/28 0.4% 249,000 4.40 7/12/2023 1/12/2028 NR 4.40 4.40 4.04 1/12/2028 70 91282CGH8 T 3 1/2 01/31/28 2.7% 1,500,000 3.50 7/10/2023 1/31/2028 AAA 4.40 4.40 3.70 1/31/2028 71 56064CBV9 MAINFL 3.7 02/09/28 0.4% 249,000 3.70 2/9/2023 2/9/2028 NR 3.70 3.70 4.12 2/9/2028 72 32114VCF2 FNBMIC 3.7 02/10/28 0.4% 249,000 3.70 2/10/2023 2/10/2028 NR 3.70 3.70 4.12 2/10/2028 73 03753XCV0 BKOCAM 3.7 02/15/28 0.4% 249,000 3.70 2/15/2023 2/15/2028 NR 3.70 3.70 4.13 2/15/2028 74 92834ABS4 VISBNK 3 3/4 02/17/28 0.4% 249,000 3.75 2/17/2023 2/17/2028 NR 3.75 3.75 4.14 2/17/2028 75 3130ATS57 FHLB 4 1/2 03/10/28 0.9% 500,000 4.50 3/10/2023 3/10/2028 AAA 4.38 4.38 3.73 3/10/2028 76 05580AW59 BMW 4.6 03/10/28 0.4% 244,000 4.60 3/10/2023 3/10/2028 NR 4.60 4.60 4.20 3/10/2028 77 914098DP0 UBNKMI 4 1/2 03/17/28 0.4% 249,000 4.50 3/17/2023 3/17/2028 NR 4.50 4.50 4.22 3/17/2028 78 61690U3V0 MS 4.65 04/06/28 0.4% 244,000 4.65 4/6/2023 4/6/2028 NR 4.65 4.65 4.27 4/6/2028 79 61768ERM7 MS 4.65 04/06/28 0.4% 244,000 4.65 4/6/2023 4/6/2028 NR 4.65 4.65 4.27 4/6/2028 80 91282CHE4 T 3 5/8 05/31/28 2.7% 1,500,000 3.63 9/8/2023 5/31/2028 AAA 4.36 4.36 4.01 5/31/2028 81 176688DD8 CITIZS 4.35 06/30/28 0.4% 249,000 4.35 7/3/2023 6/30/2028 NR 4.35 4.35 4.51 6/30/2028 82 30781JBK5 FMBCKS 4.35 07/12/28 0.4% 249,000 4.35 7/12/2023 7/12/2028 NR 4.35 4.35 4.54 7/12/2028 83 227563DM2 CRORVR 4.6 07/12/28 0.4% 249,000 4.60 7/12/2023 7/12/2028 NR 4.60 4.60 4.54 7/12/2028 84 910286GT4 FFED 4 1/2 07/14/28 0.4% 249,000 4.50 7/14/2023 7/14/2028 NR 4.50 4.50 4.55 7/14/2028 85 20033A3X2 ADS 4.45 07/14/28 0.4% 249,000 4.45 7/14/2023 7/14/2028 NR 4.45 4.45 4.55 7/14/2028 86 80832MAA5 SCHSAV 4.35 07/27/28 0.4% 244,000 4.35 7/27/2023 7/27/2028 NR 4.35 4.35 4.58 7/27/2028 87 104270AP8 BRADNB 5.4 07/28/28 0.4% 248,000 5.40 7/28/2023 7/28/2028 1/28/2024 NR 5.40 5.40 4.58 Monthly 7/28/2028 88 307811HC6 FMBKWI 5.3 07/31/28 0.4% 248,000 5.30 7/31/2023 7/31/2028 7/31/2024 NR 5.30 5.30 4.59 Monthly 7/31/2028 89 68283MAP1 ONPFCU 4.85 07/31/28 0.4% 248,000 4.85 7/31/2023 7/31/2028 NR 4.85 4.85 4.59 7/31/2028 90 05765LBV8 BTHLAS 4.4 07/31/28 0.4% 249,000 4.40 7/31/2023 7/31/2028 NR 4.40 4.40 4.59 7/31/2028 91 428548BV2 HIAWAT 5.45 08/04/28 0.4% 248,000 5.45 8/4/2023 8/4/2028 2/4/2024 NR 5.45 5.45 4.60 Monthly 8/4/2028 92 320437AD8 FIGTYB 4 1/2 08/04/28 0.4% 249,000 4.50 8/4/2023 8/4/2028 NR 4.50 4.50 4.60 8/4/2028 5 Report Date: 12/29/2023
City of Paramount
Estimated Estimated
# CUSIP/Sec-ID Sec Desc 1 Weight Par Value Coupon * Settle Dt Mat Dt Nxt Call Dt Rating *** YTM ** YTW ** Duration Call Type Bps to Call Redem. Date Portfolio Details - Sorted by Maturity
93 065847FP5 BANKWI 5.1 08/04/28 0.4% 248,000 5.10 8/4/2023 8/4/2028 8/4/2025 NR 5.10 5.10 4.60 Monthly 8/4/2028 94 530520AK1 LIBFIR 4.7 08/07/28 0.4% 249,000 4.70 8/7/2023 8/7/2028 NR 4.70 4.70 4.61 8/7/2028 95 46656MJB8 JPM 5.35 08/08/28 0.4% 243,000 5.35 8/8/2023 8/8/2028 8/8/2024 NR 5.35 5.35 4.61 Quarterly 8/8/2028 96 071170AC8 BATHSV 4.3 08/10/28 0.4% 249,000 4.30 8/10/2023 8/10/2028 NR 4.30 4.30 4.62 8/10/2028 97 05600XTW0 BMO 5 1/2 08/10/28 0.4% 246,000 5.50 8/10/2023 8/10/2028 2/10/2024 NR 5.50 5.50 4.62 Quarterly 8/10/2028 98 843383DH0 SMBC 4.4 08/11/28 0.4% 249,000 4.40 8/11/2023 8/11/2028 NR 4.40 4.40 4.62 8/11/2028 99 95960SCA2 WESTKS 5.4 08/11/28 0.4% 248,000 5.40 8/11/2023 8/11/2028 2/11/2024 NR 5.40 5.40 4.62 Monthly 8/11/2028 100 32110YD93 FNAMER 4.45 08/15/28 0.4% 249,000 4.45 8/15/2023 8/15/2028 NR 4.45 4.45 4.63 8/15/2028 101 499724AP7 KNXTVA 4.85 08/25/28 0.4% 248,000 4.85 8/25/2023 8/25/2028 NR 4.85 4.85 4.66 8/25/2028 102 560507AR6 MNESVG 4.85 08/25/28 0.4% 248,000 4.85 8/25/2023 8/25/2028 NR 4.85 4.85 4.66 8/25/2028 103 3134H1BP7 FHLMC 5.05 09/11/28 1.8% 1,000,000 5.05 9/22/2023 9/11/2028 9/11/2024 AAA 5.24 5.24 1.62 Annual 54 9/11/2024 104 3133EPWK7 FFCB 4 1/2 09/22/28 5.4% 3,000,000 4.50 9/22/2023 9/22/2028 AAA 4.53 4.53 4.16 9/22/2028 TOTAL and AVERAGES 55,457,000 3.40 2.92 yrs 2.7 yrs 4.10 4.10 2.73 * Semi-Annual interest payment ** Yields calculated using cost price, at settlement date *** NR AGY = Non-Rated U.S. Government Agency 6 Report Date: 12/29/2023
To: Honorable City Council
From: John Moreno, City Manager
By: Heidi Luce, City Clerk
Date: February 13, 2024
SUBJECT: AMENDING ORDINANCE NO. 178, THE COMPREHENSIVE ZONING ORDINANCE, APPROVING ZONE CHANGE NO. 245, CHANGING THE
OFFICIAL ZONING MAP OF THE CITY OF PARAMOUNT FROM C-3
(GENERAL COMMERCIAL) TO PD-PS (PLANNED DEVELOPMENT

WITH PERFORMANCE STANDARDS)/SINGLE-FAMILY RESIDENTIAL
TO ALLOW FOR THE DEVELOPMENT OF 10 SINGLE-FAMILY HOMES
AT 16261 ORIZABA AVENUE IN THE CITY OF PARAMOUNT

BACKGROUND
The City Council, at its regularly scheduled meeting on January 23, 2024, introduced Ordinance No. 1181 and placed it on the February 13, 2024 agenda for adoption.

ORDINANCE NO. 1181
“AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
PARAMOUNT AMENDING ORDINANCE NO. 178, THE

COMPREHENSIVE ZONING ORDINANCE, APPROVING ZONE CHANGE
NO. 245, CHANGING THE OFFICIAL ZONING MAP OF THE CITY OF PARAMOUNT FROM C-3 (GENERAL COMMERCIAL) TO PD-PS
(PLANNED DEVELOPMENT WITH PERFORMANCE

STANDARDS)/SINGLE-FAMILY RESIDENTIAL TO ALLOW FOR THE
DEVELOPMENT OF 10 SINGLE-FAMILY HOMES AT 16261 ORIZABA
AVENUE IN THE CITY OF PARAMOUNT.”

DISCUSSION
Ordinance No. 1181, as shown above, is presented for adoption at tonight’s meeting. The agenda report from the January 23, 2024 meeting is attached for reference.

FISCAL IMPACT
None.

Agenda Report February 13, 2024
ORDINANCE NO. 1181 Page 2

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 1: Safe Community – Provide a safe place to live, work, and visit; and 3: Economic Health - Support a healthy, sustainable economy reflecting community values.

RECOMMENDED ACTION
Read by title only, waive further reading, and adopt Ordinance No. 1181

18. REPORT RESOLUTION NO. 24:001/GENERAL PLAN AMENDMENT NO. 23-2 AND ORDINANCE NO. 1181/ZONE CHANGE NO.
245 MICHAEL FERRERO/ORIZABA 10, LP
Recommended Action:

A. Adopt a Mitigated Negative Declaration and Mitigation Monitoring and Reporting Program.

B. Read by title only and adopt Resolution No. 24:001,
approving General Plan Amendment No. 23-2,
changing the General Plan Land Use Designation from
Commercial to Single-Family Residential.

C. Read by title only, waive further reading, introduce Ordinance No. 1181 and place it on the February 13,
2024 agenda for adoption.

To: Honorable City Council
From: John Moreno, City Manager
By: John Carver, Planning Director
Date: January 23, 2024
SUBJECT: RESOLUTION NO. 24:001/GENERAL PLAN AMENDMENT NO. 23-2 AND ORDINANCE NO. 1181/ZONE CHANGE NO. 245 MICHAEL
FERRERO/ORIZABA 10, LP

BACKGROUND
Request
This item is a request from Michael Ferrero/Orizaba 10, LP for a general plan amendment and zone change to allow for the construction of 10 single-family homes at 16261 Orizaba Avenue. The Planning Commission recommended City Council approval of these items at its October 4, 2023, meeting.

The first of the two applications is a request to change the General Plan Land Use Designation from Commercial to Single-Family Residential, with the second application being a request to change the official Zoning Map from C-3 (General Commercial) to PDPS (Planned Development with Performance Standards)/Single-Family Residential.

The following is an aerial photograph of the project area with the site highlighted in red:

Below are photos of the project site:

Agenda Report January 23, 2024
RESOLUTION NO. 24:001/ORDINANCE NO. 1181 Page 2
The following are photos of the site.

General Plan
The City Council adopted a comprehensive Paramount General Plan update in 2007. The General Plan is made up of elements – land use, housing, transportation, resources management, health and safety, economic development, public facilities, and implementation. The City Council adopted a new element – environmental justice – in early 2022. The Land Use Element of the General Plan serves as the long-term guide for development in Paramount and indicates the distribution, location, and land use for housing, business, industry, open space, recreation, and public facilities. California Government Code Section 65860 requires General Plan Land Use Map and Zoning Map consistency.

Agenda Report January 23, 2024
RESOLUTION NO. 24:001/ORDINANCE NO. 1181 Page 3

DISCUSSION
Proposed General Plan Amendment
The applicant submitted an application to change the Land Use Designation on the General Plan Land Use Map for the property at 16261 Orizaba Avenue.

The two maps below show the existing and proposed Land Use Map with updated Land Use Designation:

EXISTING PROPOSED
Proposed Zone Change
As noted above, the second application is a request to change the zone from C-3 (General Commercial) to PD-PS (Planned Development with Performance Standards)/SingleFamily Residential.

Agenda Report January 23, 2024
RESOLUTION NO. 24:001/ORDINANCE NO. 1181 Page 4
The two maps below show the existing and proposed Zoning Map:

EXISTING PROPOSED
Agenda Report January 23, 2024
RESOLUTION NO. 24:001/ORDINANCE NO. 1181 Page 5
The following map shows the layout of the project:

Project Design
Below are front elevations of two of the home plan types:

Agenda Report January 23, 2024
RESOLUTION NO. 24:001/ORDINANCE NO. 1181 Page 6
The architecture of the development is consistent with the City’s design requirements.

The homes will have a Spanish/Mediterranean design theme and will include concrete tile roofs, stucco exteriors, and decorative roll-up garage doors. The homes will feature multiple level roof lines and varying building projections.

Environmental Analysis
Blodgett Baylosis Environmental Planning prepared an Initial Study in accordance with the California Environmental Quality Act (CEQA) and CEQA Guidelines to determine whether the project would have a significant impact on the environment. The Initial Study determined that with mitigation, the project would not result in any significant impacts on the environment, and a Mitigated Negative Declaration (MND) is recommended for this project. The environmental analysis looked at areas such as aesthetics, noise, cultural resources, tribal cultural resources, air quality, and transportation and traffic. One mitigation measure related to cultural resources and tribal cultural resources is included in the MND. The applicant will be required to hire a Native American Monitor to be present onsite during ground disturbing activities, such as grading, to document and recover Native American artifacts and other cultural resources that may be discovered.

FISCAL IMPACT
None.

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 1: Safe Community - Provide a safe place to live, work, and visit. 3: Economic Health - Support a healthy, sustainable economy reflecting community values.

RECOMMENDED ACTION
A. Adopt a Mitigated Negative Declaration and Mitigation Monitoring and Reporting Program;
B. Read by title only and adopt Resolution No. 24:001, approving General Plan Amendment No. 23-2, changing the General Plan Land Use Designation from Commercial to Single-Family Residential;
C. Read by title only, waive further reading, introduce Ordinance No. 1181 and place it on the February 13, 2024 agenda for adoption.

CITY OF PARAMOUNT

LOS ANGELES COUNTY, CALIFORNIA
RESOLUTION NO. 24:001

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARAMOUNT

SETTING FORTH ITS FINDINGS OF FACT AND DECISION RELATIVE TO GENERAL PLAN AMENDMENT NO. 23-2, APPROVING A REQUEST BY MICHAEL FERRERO/ORIZABA 10, LP TO CHANGE THE GENERAL PLAN LAND USE DESIGNATION FROM COMMERCIAL TO SINGLEFAMILY RESIDENTIAL AT 16261 ORIZABA AVENUE IN THE C-3 (GENERAL COMMERCIAL) ZONE IN THE CITY OF PARAMOUNT
WHEREAS, the City Council of the City of Paramount has considered a request by Michael Ferrero/Orizaba 10, LP to change the General Plan Land Use designation from Commercial to Single-Family Residential at 16261 Orizaba Avenue in the C-3 (General Commercial) zone; and
WHEREAS, the City Council of the City of Paramount has caused notices to be published in the time and manner as required by law; and WHEREAS, the Planning Commission of the City of Paramount conducted a public hearing relative to General Plan Amendment No. 23-2 on October 4, 2023.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARAMOUNT AS FOLLOWS:

SECTION 1. The above recitations are true and correct.

SECTION 2. The City Council finds that it has conducted all the public hearings necessary and in compliance with State Law and the Municipal Code of the City of Paramount.

SECTION 3. The City Council hereby adopts a Mitigated Negative Declaration relative to Resolution No. 24:001/General Plan Amendment No. 23-2 in accordance with the provisions of the California Environmental Quality Act (CEQA).

SECTION 4. The City Council finds that the evidence presented does justify the granting of this application for the following reasons:

1. That modified conditions warrant a revision in the General Plan Land Use Map as it pertains to the area under consideration.

2. That placement of the proposed land use designation at such location will not:
a. Adversely affect the health, peace, or welfare of persons residing or working in the surrounding area; and
RESOLUTION NO. 24:001

b. Jeopardize, endanger, or otherwise constitute a menace to the public health, safety, or general welfare.

3. That such land use designation is necessary or desirable for the development of the community, is essentially in harmony with the various elements of the General Plan, and is not detrimental to existing uses.

SECTION 5. Based upon the foregoing findings, the City Council approves Resolution No. 24:001/General Plan Amendment No. 23-2.

SECTION 6. The General Plan Land Use Map of the City of Paramount as comprehensively updated when adopted by the City Council on August 7, 2007 is amended as shown on the map attached hereto, marked Exhibit “A”, to be changed from the designation of Commercial to Single-Family Residential4. Said change shall be made on the General Plan Land Use Map of the City of Paramount.

SECTION 7. This Resolution shall take effect immediately upon its adoption.

PASSED, APPROVED, and ADOPTED by the City Council of the City of Paramount this 23rd day of January 2024.

Isabel Aguayo, Mayor
ATTEST:

Heidi Luce, City Clerk
RESOLUTION NO. 24:001

EXHIBIT A
https://paramountcity1957.sharepoint.com/sites/planning/shared documents/planningdiv/john/reports 2023/orizaba 10/res24001_gpa232rescc.docx

CITY OF PARAMOUNT

LOS ANGELES COUNTY, CALIFORNIA
ORDINANCE NO. 1181

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
PARAMOUNT AMENDING ORDINANCE NO. 178, THE

COMPREHENSIVE ZONING ORDINANCE, APPROVING ZONE CHANGE
NO. 245, CHANGING THE OFFICIAL ZONING MAP OF THE CITY OF PARAMOUNT FROM C-3 (GENERAL COMMERCIAL) TO PD-PS
(PLANNED DEVELOPMENT WITH PERFORMANCE STANDARDS)/

SINGLE-FAMILY RESIDENTIAL TO ALLOW FOR THE DEVELOPMENT
OF 10 SINGLE-FAMILY HOMES AT 16261 ORIZABA AVENUE IN THE

CITY OF PARAMOUNT

THE CITY COUNCIL OF THE CITY OF PARAMOUNT DOES HEREBY ORDAIN AS FOLLOWS:

SECTION 1. Purpose and Findings. The City Council finds and declares as follows:

WHEREAS, California Constitution Article XI, Section 7, enables the City of Paramount (“the City”) to enact local planning and land use regulations; and WHEREAS, the authority to adopt and enforce zoning regulations, including the location and boundaries of the various zones shown and delineated on the Official Zoning Map of the City, is an exercise of the City’s police power to protect the public health, safety, and welfare; and
WHEREAS, the City desires to ensure that development occurs in a prudently effective manner, consistent with the goals and objectives of the General Plan as updated and adopted by the City Council on August 7, 2007 and reasonable land use planning principles; and
WHEREAS, the Planning Commission held a duly noticed public hearing on October 4, 2023 at which time it considered all evidence presented, both written and oral, and at the end of the hearing voted to adopt Resolution No. PC 23:035, recommending that the City Council adopt this Ordinance; and
WHEREAS, the City Council held a duly noticed public hearing on this Ordinance on January 23, 2024, at which time it considered all evidence presented, both written and oral.

SECTION 2. The official Zoning Map of the City of Paramount adopted by Ordinance No. 178 on February 20, 1962 is amended as shown on the map attached hereto, marked Exhibit “A”, to be zoned PD-PS (Planned Development with Performance Standards)/Single-Family Residential. Said change shall be made on the official Zoning Map of the City of Paramount.

ORDINANCE NO. 1181

Said zone change shall be subject to the following conditions:

Permitted Uses:

The following uses shall be permitted in this PD-PS zone:

1. One single-family dwelling. Lots shall be used for residential purposes only, and no building shall be erected, altered, placed, or permitted to remain on any lot other than a detached single-family dwelling. No part of the properties shall ever be used or caused, allowed, or authorized to be used in any way, directly or indirectly, for any business, commercial, manufacturing, mercantile, storing, vending, or other such nonresidential purpose.

2. Accessory dwelling unit (ADU) and/or junior accessory dwelling unit (JADU). An ADU and/or JADU shall be permitted pursuant to Chapter

17.104 (Accessory Dwelling Units) of the Paramount Municipal Code and State law.

3. Attached accessory buildings and structures, including private garages.

4. Animals. Dogs and cats as household pets, provided that the total number is any combination thereof shall not exceed three. Livestock, including cattle, sheep, goats, horses, rabbits, rodents, poultry, fowl, and pigeons are prohibited. Fish contained within an aquarium shall be permitted.

5. Family daycare homes. A family daycare home shall comply with all relevant regulations from all relevant State of California, Los Angeles County, and City of Paramount codes and regulations and maintain an active City of Paramount business license.

6. Home garden. A home garden is permitted as a complement or accessory to a completed development project.

7. Home occupation. A Home Occupation Permit may be granted pursuant to Section 17.08.020(E) of the Paramount Municipal Code.

8. Small licensed residential care facilities. A small licensed residential care facility shall comply with all relevant regulations from all relevant State of California, Los Angeles County, and City of Paramount codes and regulations and maintain an active City of Paramount business license.

Prohibited uses:

1. Short-term rentals. A short-term rental means a residential building or a portion of a residential building that is rented to a person or person for 30 consecutive days or less.

ORDINANCE NO. 1181

Performance Standards:

1. Vehicle repair. The repair or dismantling of any vehicle within the PD-PS (Planned Development with Performance Standards/Single-Family Residential) zone shall be prohibited.

2. Commercial trucks/trailers. The parking or storage of trailers or commercial trucks shall not be allowed.

3. Vehicle parking. The parking of any vehicle in any area of any lot, other than the garage or driveway, is prohibited.

4. Recreational vehicles. The outdoor parking or outdoor storage of any recreational vehicle shall not be allowed. Such recreational vehicles shall include, but are not limited to motorhomes, boats, travel trailers, and transport trailers.

5. Satellite dish. The installation of a satellite dish shall be at a location at the rear of the house or garage and shall not project above the peak of the roof so as not to be visible from the public right-of-way.

6. Pole/antennae. No television or radio poles, antennae, or other external fixtures other than those originally installed by the developer and any replacements thereof, shall be constructed, erected or maintained on or within any lot. No other than that originally installed by the developer and any replacements thereof, shall be constructed, erected or maintained on any lot.

7. Clotheslines. Clotheslines shall be located at the rear of the house or garage and shall not be visible from the public right-of-way.

8. Trash/recyclables. Trash, recyclables, garbage, or other waste shall be kept only in sanitary containers that shall be stored in a location so as not to be visible from the public right-of-way. No owner of a lot shall permit or cause any trash or refuse to be kept on any portion of the properties other than in receptacles customarily used therefore.

9. Storage. The storage or accumulation of junk, trash, manure, and other offensive or noxious materials on any lot is specifically prohibited. No burning on any lot shall be permitted except in fireplaces or barbecues, if any. No lumber, metals, machinery, equipment, or building materials shall be kept, stored, or allowed to accumulate on any lot.

10. Modifications. No owner shall make any alterations or modifications to the exterior of the buildings, fences, railings, walls or other improvements constructed on his lot, or change the grade or drainage pattern of his lot, without the prior consent of the Planning Director.

ORDINANCE NO. 1181

11. Home gardens, front yard. With the exception of fruit trees, edible landscaping in the front yard shall be restricted to raised garden beds.

Raised garden beds shall be constructed of wood (free of rot), brick, masonry, landscape timbers, metal, ceramic, or synthetic lumber. With the exception of fruit trees, edible landscaping in the front yard shall not exceed a maximum height of 42 inches measured from the top of soil.

Edible plant materials shall be promptly harvested and removed when mature or ripe. Plants not harvested for consumption shall be promptly removed or tilled into the soil. Planting areas fallowed between growing seasons shall be covered with mulch or similar material or otherwise maintained in clean condition until the next planting period. Weeds shall be promptly removed. Actions shall be taken to prevent and eliminate pests.

Development Standards:

1. Setbacks. Building setbacks are to be as shown on the submitted site plan and made by reference a part of this zone change.

2. Parking. Parking shall be provided at a minimum rate of two garage spaces per unit and two driveway parking spaces per unit.

3. Driveways. The driveway shall not be widened.

4. Roofing. Decorative roofing material shall be maintained. Asphalt composition shingle is not considered decorative roofing material and is not permissible as reroofing material. Reroofing requires separate Planning Department review and approval of the material and color.

5. Signage. Each lot or parcel of land in this PD-PS zone may have the following signs:
a. Name plates not exceeding two square feet in area containing the name of the occupant of the premises.
b. Address numbers not exceeding six inches in height.

6. Mailboxes. Mailboxes shall be provided at a rate of one per unit. Said boxes shall be installed by the developer.

7. Fences, etc. No fence or hedge exceeding 42 inches in height shall be erected or permitted in the front setback areas on any lot. No chain-link fences will be permitted.

8. Security bars. No wrought iron, metal, steel, etc. burglar bars shall be installed on exterior of any window. All exterior doors must be able to open without special knowledge or tools.

ORDINANCE NO. 1181

9. Garbage and recyclable cans. Each home shall store garbage and recyclable cans within garages or behind private area fencing.

10. Tarps. The use of tarps is prohibited in front setbacks, side setbacks, rear yard areas, over driveways, and in parking and circulation areas.

11. Landscaping/irrigation. Landscaping and irrigation shall comply with Chapter 17.96 (Water-Efficient Landscape Provisions) of Title 17 (Zoning) of the Paramount Municipal Code.

12. Automobile maintenance. The minor maintenance of vehicles (oil change, etc.) shall be screened from public view.

13. Security wire. No barbed wire, concertina wire, razor wire, or cut glass shall be used as a fence or part of a fence, wall or hedge along any property line or within any required side, rear, or front yard.

Compliance with Chapter 17.72 (PD-PS, Planned Development with Performance Standards Zone) of the Paramount Municipal Code.

This zone change case shall comply with all conditions set forth in Chapter 17.72 (PD-PS, Planned Development with Performance Standards Zone) of the Paramount Municipal Code, Section 17.72.010 to 17.72.210, inclusive.

SECTION 3. The City Council adopted a Mitigated Negative Declaration relative to Resolution No. 24:001/General Plan Amendment No. 23-2 in accordance with the provisions of the California Environmental Quality Act (CEQA).

SECTION 4. Severability. If any section, subsection, sentence, clause, or phrase in this ordinance or the application thereof to any person or circumstance is for any reason held invalid, the validity of the remainder of the ordinance or the application of such provision to other persons or circumstances shall be adopted thereby. The City Council hereby declares it would have passed this ordinance and each section, subsection, sentence, clause, or phrase thereof, irrespective of the fact that one or more sections, subsections, sentences, clauses, or phrases or the application thereof to any person or circumstance be held invalid.

SECTION 5. Effective Date. This Ordinance shall take effect thirty days after its adoption, shall be certified as to its adoption by the City Clerk, and shall be published as required by law, together with the names and members of the City Council voting for and against the Ordinance.

ORDINANCE NO. 1181

PASSED, APPROVED, and ADOPTED by the City Council of the City of Paramount this 13th day of February 2024.
____________________________________
Isabel Aguayo, Mayor
Attest:
________________________
Heidi Luce, City Clerk
https://paramountcity1957.sharepoint.com/sites/planning/shared documents/planningdiv/john/reports 2023/orizaba 10/ord 1181 zc 245 ord.docx CITY OF PARAMOUNT ● INITIAL STUDY AND MITIGATED NEGATIVE DECLARATION GOLD KEY DEVELOPMENT - ORIZABA HOMES ● 16261 ORIZABA AVENUE, PARAMOUNT MITIGATION MONITORING & REPORTING PROGRAM PAGE 1
DRAFT

MITIGATION MONITORING AND REPORTING

PROGRAM
GOLD KEY DEVELOPMENT – ORIZABA HOMES
GENERAL PLAN AMENDMENT GPA) NO. 22-2; DEVELOPMENT
REVIEW APPLICATION (DRA) NO. 23:009; ZONE CHANGE
(ZC) NO. 245; TENTATIVE TRACT MAP (TTM) 084130
16261 ORIZABA AVENUE, PARAMOUNT, CALIFORNIA
LEAD AGENCY:

CITY OF PARAMOUNT

PLANNING DEPARTMENT, PLANNING DIVISION
16400 COLORADO AVENUE
PARAMOUNT, CALIFORNIA 90723
REPORT PREPARED BY:

BLODGETT BAYLOSIS ENVIRONMENTAL PLANNING
2211 S. HACIENDA BOULEVARD, SUITE 107
HACIENDA HEIGHTS, CALIFORNIA 91745
SEPTEMBER 05, 2023
PARA 107
CITY OF PARAMOUNT ● INITIAL STUDY AND MITIGATED NEGATIVE DECLARATION GOLD KEY DEVELOPMENT - ORIZABA HOMES ● 16261 ORIZABA AVENUE, PARAMOUNT MITIGATION MONITORING & REPORTING PROGRAM PAGE 2
THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK.

CITY OF PARAMOUNT ● INITIAL STUDY AND MITIGATED NEGATIVE DECLARATION GOLD KEY DEVELOPMENT - ORIZABA HOMES ● 16261 ORIZABA AVENUE, PARAMOUNT MITIGATION MONITORING & REPORTING PROGRAM PAGE 3

MITIGATION MONITORING & REPORTING PROGRAM

INTRODUCTION & FINDINGS
The Initial Study determined that the proposed project is not expected to have any significant adverse environmental impacts. The following findings can be made regarding the Mandatory Findings of Significance set forth in Section 15065 of the CEQA Guidelines based on the results of this Initial Study:
● The proposed project will not have the potential to substantially degrade the quality of the environment, substantially reduce the habitat of a fish or wildlife species, cause a fish or wildlife population to drop below self-sustaining levels, threaten to eliminate a plant or animal community, substantially reduce the number or restrict the range of an endangered, rare or threatened species or eliminate important examples of the major periods of California history or prehistory. ● The proposed project will not have impacts that are individually limited, but cumulatively considerable.
● The proposed project will not have environmental effects which will cause substantially adverse effects on human beings, either directly or indirectly.

In addition, pursuant to Section 21081(a) of the Public Resources Code, findings must be adopted by the decision-maker coincidental to the approval of a Mitigated Negative Declaration, which relates to the Mitigation Monitoring Program. These findings shall be incorporated as part of the decision-maker’s findings of fact, in response to AB-3180 and in compliance with the requirements of the Public Resources Code. In accordance with the requirements of Section 21081(a) and 21081.6 of the Public Resources Code, the City of Santa Fe Springs can make the following additional findings:
● A mitigation reporting or monitoring program will be required; and, ● An accountable enforcement agency or monitoring agency shall be identified for the mitigation measures adopted as part of the decision-maker’s final determination.

A number of mitigation measures have been recommended as a means to reduce or eliminate potential adverse environmental impacts to insignificant levels. AB-3180 requires that a monitoring and reporting program be adopted for the recommended mitigation measures.

CITY OF PARAMOUNT ● INITIAL STUDY AND MITIGATED NEGATIVE DECLARATION GOLD KEY DEVELOPMENT - ORIZABA HOMES ● 16261 ORIZABA AVENUE, PARAMOUNT MITIGATION MONITORING & REPORTING PROGRAM PAGE 4

MITIGATION MEASURES
In addition, pursuant to Section 21081(a) of the Public Resources Code, findings must be adopted by the decision-maker coincidental to the approval of a Negative Declaration. These findings shall be incorporated as part of the decision-maker’s findings of fact, in response to AB-3180 and in compliance with the requirements of the Public Resources Code. In accordance with the requirements of Section 21081(a) and 21081.6 of the Public Resources Code, the City of Paramount can make the following additional findings:

The analysis of potential cultural resources impacts indicated that no significant adverse impacts would result from the proposed project’s implementation. Even though the project site has been disturbed to accommodate the existing on-site development, the following mitigation is required based on the AB-52 consultation with the Gabrieleño-Kizh Nation:

Cultural Resources Mtigation Measure No. 1. The project Applicant will be required to obtain the services of a qualified Native American Monitor during construction-related ground disturbance activities. Ground disturbance is defined by the Tribal Representatives from the Gabrieleño Band of Mission Indians, Kizh Nation as activities that include, but are not limited to, pavement removal, potholing or auguring, boring, grading, excavation, and trenching, within the project area. The monitor(s) must be approved by the tribal representatives and will be present on-site during the construction phases that involve any ground disturbing activities. The Native American Monitor will complete monitoring logs on a daily basis. The logs will provide descriptions of the daily activities, including construction activities, locations, soil, and any cultural materials identified. The Monitor will photodocument the ground disturbing activities. The monitors must also have Hazardous Waste Operations and Emergency Response (HAZWOPER) certification. The on-site monitoring shall end when the project site grading and excavation activities are completed.

CITY OF PARAMOUNT ● INITIAL STUDY AND MITIGATED NEGATIVE DECLARATION GOLD KEY DEVELOPMENT - ORIZABA HOMES ● 16261 ORIZABA AVENUE, PARAMOUNT MITIGATION MONITORING & REPORTING PROGRAM PAGE 5

MITIGATION MONITORING MATRIX
The monitoring and reporting for the mitigation measures, including the period for implementation, monitoring agency, and the monitoring action, are identified in Table 1.

Table 1
Mitigation Monitoring Program

MEASURE

ENFORCEMENT
AGENCY

MONITORING
PHASE

VERIFICATION

CULTURAL RESOURCES
The analysis of potential cultural resources impacts indicated that no significant adverse impacts would result from the proposed project’s implementation. Even though the project site has been disturbed to accommodate the existing on-site development, the following mitigation is required based on the AB-52 consultation with the Gabrieleño-Kizh Nation:

Cultural Resources Mtigation Measure No. 1. The project Applicant will be required to obtain the services of a qualified Native American Monitor during construction-related ground disturbance activities. Ground disturbance is defined by the Tribal Representatives from the Gabrieleño Band of Mission Indians, Kizh Nation as activities that include, but are not limited to, pavement removal, pot-holing or auguring, boring, grading, excavation, and trenching, within the project area. The monitor(s) must be approved by the tribal representatives and will be present on-site during the construction phases that involve any ground disturbing activities. The Native American Monitor will complete monitoring logs on a daily basis. The logs will provide descriptions of the daily activities, including construction activities, locations, soil, and any cultural materials identified. The Monitor will photo-document the ground disturbing activities. The monitors must also have Hazardous Waste Operations and Emergency Response (HAZWOPER) certification. The on-site monitoring shall end when the project site grading and excavation activities are completed.

City of Paramount Planning
Department
(The Applicant is responsible
for implementation)
Prior to the start of any
construction related
activities.

Mitigation ends at the
completion of the site grading
and excavation construction
phase.

Date:

Name & Title:

CITY OF PARAMOUNT ● INITIAL STUDY AND MITIGATED NEGATIVE DECLARATION GOLD KEY DEVELOPMENT - ORIZABA HOMES ● 16261 ORIZABA AVENUE, PARAMOUNT MITIGATION MONITORING & REPORTING PROGRAM PAGE 6
To: Honorable City Council
From: John Moreno, City Manager
By: Margarita Matson, Public Safety Director
Date: February 13, 2024
SUBJECT: AMENDING CHAPTERS 8.040.010 AND 8.04.040 OF THE PARAMOUNT

MUNICIPAL CODE REGARDING INCORPORATION OF THE COUNTY

HEALTH AND SAFETY CODE
Since incorporation, the City of Paramount has utilized the Los Angeles County Health Department for inspections and other services related to health and sanitation. Chapters

8.04.010 and 8.04.040 of the Paramount Municipal Code incorporate by reference the Los Angeles County Health and Safety Code as the Health Code for the City. To ensure that we are utilizing the most current version of the County Code, we annually readopt it by reference.

State law requires that a certain procedure be followed for adopting the County codes by reference. The City Council must have a first reading of the ordinance and set a date for a public hearing on the ordinance. The first reading was conducted at the January 23, 2024 City Council meeting, and the public hearing was set for this evening.

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 1: Safe Community - Provide a safe place to live, work, and visit.

RECOMMENDED ACTION
Read by title only, waive further reading, introduce Ordinance No. 1179, and place it on the next regular agenda for adoption.

CITY OF PARAMOUNT
16400 COLORADO AVENUE

PARAMOUNT, CALIFORNIA

PUBLIC HEARING
NOTICE OF PROPOSED ORDINANCE NO. 1179
Notice is hereby given that the City of Paramount will conduct a hearing to consider adopting by reference the Los Angeles County Health and Safety Code.

The Public Hearing will be held at the regular meeting of the City Council to be held at 6:00 p.m. on February 13, 2024, in the Council Chambers, City Hall, 16400 Colorado Avenue, Paramount, California. Participants may provide their comments orally, in writing, or via email at [email protected]. E-mail comments must be received by 5:45 p.m. on Tuesday, February 13, 2024.

Additional options for public participation may be provided at the time the agenda is posted.

Comments will be limited to those issues raised at the Public Hearing described in this notice, or in written correspondence to the City of Paramount at, or prior to, the Public Hearing.

If you challenge the Ordinance in court, you may be limited to raising only those issues you or someone else raised at the public hearing described in this notice, or in written correspondence delivered to the City of Paramount at, or prior to, the public hearing.

Any correspondence regarding this matter should be sent to the City Clerk, City Hall, 16400 Colorado Avenue, Paramount California. For information, please contact the Public Safety Director, Margarita Matson, at (562) 220-2002. ___________________________
Heidi Luce, City Clerk

PARAMOUNT JOURNAL
DATE OF PUBLICATION: February 1, 2024
3 affidavits please

CITY OF PARAMOUNT

LOS ANGELES COUNTY, CALIFORNIA
ORDINANCE NO. 1179

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
PARAMOUNT AMENDING CHAPTERS 8.04.010 AND 8.04.040 OF

THE PARAMOUNT MUNICIPAL CODE REGARDING

INCORPORATION OF THE COUNTY HEALTH AND SAFETY CODE

THE CITY COUNCIL OF THE CITY OF PARAMOUNT DOES HEREBY ORDAIN AS FOLLOWS:

SECTION 1. Chapters 8.04.010 and 8.04.040 of the Paramount Municipal Code is hereby amended in its entirety as follows:

8.04.010 County Health Code Adopted.

Title 11 of the Los Angeles County Code, entitled "Health and Safety Code," being a code regulating public health and sanitation, is hereby adopted by reference as the Health Code of the City.

8.04.040 Penalty.

Notwithstanding any other provision of this chapter, violation of any of the provisions of this chapter incorporating the County Health Code and portions of the County Consumer Protection Code is punishable as misdemeanor by a fine of not more than $500.00 or by imprisonment in the County Jail for not more than six months, or both.

Each day during any portion of which any violation herein is committed or continued to be permitted makes such violation a separate chargeable offense.

SECTION 2. Severability. If any section, subsection, sentence, clause or phrase in this ordinance or the application thereof to any person or circumstance is for any reason held invalid, the validity of the remainder of the ordinance or the application of such provision to other persons or circumstances shall be adopted thereby. The City Council hereby declares it would have passed this ordinance and each section, subsection, sentence, clause or phrase thereof, irrespective of the fact that one or more sections, subsections, sentences, clauses, or phrases or the application thereof to any person or circumstance be held invalid.

SECTION 3. Effective Date. This Ordinance shall take effect thirty days after its adoption, shall be certified as to its adoption by the City Clerk, and shall be published as required by law, together with the names and members of the City Council voting for and against the Ordinance.

ORDINANCE NO. 1179

PASSED, APPROVED, and ADOPTED by the City Council of the City of Paramount this 12th day of March 2024.

Isabel Aguayo, Mayor
ATTEST:

Heidi Luce, City Clerk
HTTPS://PARAMOUNTCITY1957.SHAREPOINT.COM/SITES/PUBLICSAFETY/MANAGMENT/WP/COUNCIL REPORTS/1179 ORD.DOC To: Honorable City Council
From: John Moreno, City Manager
By: Margarita Matson, Public Safety Director
Date: February 13, 2024
SUBJECT: AMENDING CHAPTERS 10.04.010 AND 10.04.020 OF THE

PARAMOUNT MUNICIPAL CODE REGARDING INCORPORATION OF

THE COUNTY TRAFFIC CODE
Chapters 10.04.010 and 10.04.020 of the Paramount Municipal Code incorporate by reference the Los Angeles County Traffic Code as the Traffic Code for the City. To ensure that we are utilizing the most current version of the County Code, we annually readopt it by reference.

State law requires that a certain procedure be followed for adopting the County codes by reference. The City Council must have a first reading of the ordinance and set a date for a public hearing on the ordinance. The first reading was conducted at the January 23, 2024 City Council meeting, and the public hearing was set for this evening.

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 1: Safe Community - Provide a safe place to live, work, and visit.

RECOMMENDED ACTION
Read by title only, waive further reading, introduce Ordinance No. 1180, and place it on the next regular agenda for adoption.

CITY OF PARAMOUNT
16400 COLORADO AVENUE

PARAMOUNT, CALIFORNIA

PUBLIC HEARING
NOTICE OF PROPOSED ORDINANCE NO. 1180
Notice is hereby given that the City of Paramount will conduct a hearing to consider adopting by reference the Los Angeles County Traffic Code.

The Public Hearing will be held at the regular meeting of the City Council to be held at 6:00 p.m. on February 13, 2024, in the Council Chambers, City Hall, 16400 Colorado Avenue, Paramount, California. Participants may provide their comments orally, in writing, or via email at [email protected]. E-mail comments must be received by 5:45 p.m. on Tuesday, February 13, 2024.

Additional options for public participation may be provided at the time the agenda is posted.

Comments will be limited to those issues raised at the Public Hearing described in this notice, or in written correspondence to the City of Paramount at, or prior to, the Public Hearing.

If you challenge the Ordinance in court, you may be limited to raising only those issues you or someone else raised at the public hearing described in this notice, or in written correspondence delivered to the City of Paramount at, or prior to, the public hearing.

Any correspondence regarding this matter should be sent to the City Clerk, City Hall, 16400 Colorado Avenue, Paramount California. For information, please contact the Public Safety Director, Margarita Matson, at (562) 220-2002. ___________________________
Heidi Luce, City Clerk

PARAMOUNT JOURNAL
DATE OF PUBLICATION: February 1, 2024
3 affidavits please

CITY OF PARAMOUNT

LOS ANGELES COUNTY, CALIFORNIA
ORDINANCE NO. 1180

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
PARAMOUNT AMENDING CHAPTERS 10.04.010 AND 10.04.020 OF

THE PARAMOUNT MUNICIPAL CODE REGARDING

INCORPORATION OF THE COUNTY TRAFFIC CODE

THE CITY COUNCIL OF THE CITY OF PARAMOUNT DOES HEREBY ORDAIN AS FOLLOWS:

SECTION 1. Chapters 10.04.010 and 10.04.020 of the Paramount Municipal Code is hereby amended in its entirety as follows:

10.04.010 County Traffic Code Adopted.

Title 15 of the Los Angeles County Code, entitled "Vehicles and Traffic," being a code regulating traffic upon public highways, is hereby adopted by reference as the Traffic Code of the City.

10.04.020 Penalties - Continuing Violations.

A. The first and second violation of any provision of this title may be cited as an infraction or punished as a misdemeanor. The third such violation shall be punished as a misdemeanor by a fine not exceeding $500 or imprisonment for a term not exceeding six months, or by both such fine and imprisonment. Such violations may also be redressed by civil action.

B. Each day that any violation of this title continues shall constitute a separate offense.

SECTION 2. Severability. If any section, subsection, sentence, clause or phrase in this ordinance or the application thereof to any person or circumstance is for any reason held invalid, the validity of the remainder of the ordinance or the application of such provision to other persons or circumstances shall be adopted thereby. The City Council hereby declares it would have passed this ordinance and each section, subsection, sentence, clause or phrase thereof, irrespective of the fact that one or more sections, subsections, sentences, clauses, or phrases or the application thereof to any person or circumstance be held invalid.

SECTION 3. Effective Date. This Ordinance shall take effect thirty days after its adoption, shall be certified as to its adoption by the City Clerk, and shall be published as required by law, together with the names and members of the City Council voting for and against the Ordinance.

ORDINANCE NO. 1180

PASSED, APPROVED, and ADOPTED by the City Council of the City of Paramount this 12th day of March 2024.
________________________________
Isabel Aguayo, Mayor
ATTEST:
_________________________
Heidi Luce, City Clerk
HTTPS://PARAMOUNTCITY1957.SHAREPOINT.COM/SITES/PUBLICSAFETY/MANAGMENT/WP/COUNCIL REPORTS/1180 ORD.DOC To: Honorable City Council
From: John Moreno, City Manager
By: Margarita Matson, Public Safety Director
Date: February 13, 2024
SUBJECT: AMENDMENT NO. 1 TO THE AGREEMENT WITH SOUTHWEST PATROL, INC. FOR NEIGHBORHOOD PATROL SERVICES

BACKGROUND
At the City Council Governance and Goal Setting Workshop on Tuesday, January 23, 2024, Staff presented to the City Council the idea of increasing community safety by providing dedicated neighborhood patrols for the purpose of crime prevention. Private security guards can be an effective mechanism to help prevent crime by providing visible presence, employing active observation skills, and delivering proactive communication of violations to law enforcement. Their ability to patrol, monitor, and report serves as a functional deterrent to criminals and allows for a broader coverage area than that which can be accomplished by law enforcement personnel alone. Public Safety proposes to take advantage of these benefits by expanding our current private security park patrol services agreement so that additional crime prevention support can be provided to our residential and business neighborhoods.

On May 23, 2023, the City Council approved a service agreement with Southwest Patrol, Inc. to provide park patrols and customer service contact as part of the Community Services Department’s park supervision services. On June 27, 2023, the City expanded its services with Southwest Patrol to include opening and closing field space for youth leagues, patrolling City parks, reporting graffiti and security issues, and acting as customer service ambassadors for park patrons. Additionally, Southwest Patrol has provided a uniformed guard to assist with metal detector screenings at City Council meetings since July 2023 (agreement attached).

Currently, local municipalities that contract for law enforcement services through the Los Angeles County Sheriff’s Department (LASD), are unable increase their level of service due to the County’s Contract Growth Moratorium. This moratorium prohibits Paramount from adding additional LASD resources, such as deputies, that could be deployed for crime prevention purposes. As such, municipalities have begun employing neighborhood safety enhancement plans by utilizing private security as a deployment mechanism instead. Neighboring cities like Lakewood and Bellflower already have similar private security patrols in place and active contracts with Southwest Patrol Inc. to provide these services. The feedback from their community members has been positive, indicating that the additional patrols have resulted in an increased sense of safety and security.

Agenda Report February 13, 2024
AMENDMENT TO AGREEMENT WITH SOUTHWEST PATROL, INC. Page 2 Given the effectiveness of Southwest Patrol Inc. in their current capacity with the City, along with the positive references that staff has received from the staff members at the Cities of Bellflower and Lakewood, we are recommending that the City expand Southwest Patrol Inc.’s services to include late night and early morning crime prevention patrols.

DISCUSSION
If approved, the amendment to the agreement would add two unarmed security guards performing vehicle patrols from 10:00 p.m. to 6:00 a.m., seven days a week, including holidays. The guards would each be assigned two patrol beats and conduct grid pattern patrols covering all residential neighborhoods and adjacent commercial areas. The initial deployment would focus on addressing crime trends that would enhance the sense of safety and security within the community. Those issues include robberies, thefts, street takeovers, and retail theft. Under the direction of Public Safety, the SAO Special Problems Deputy would be tasked to work directly with Southwest Patrol Inc. to ensure that all public safety concerns were being mitigated through active patrols and the reporting of suspicious activity to the Sheriff’s Department.

It is imperative to note that this is an enhancement only and not a replacement service.

Deputies will continue to be highly visible and proactive in their enforcement of the law, dedicating time and resources to any resident or business that demonstrates a need for their services. The goal is to create a multi-faceted system where Public Safety’s nonsworn personnel, LASD, and private security staff all work together to provide the highest level of law enforcement services possible to our community.

FISCAL IMPACT
There is currently no additional fiscal impact to the City. Funding for this service will be available through the unused fund for the Los Angeles County Sherriff’s Department, Mental Evaluation Team which was included in the FY 2023-24 budget. The cost for the two guards is $100,800 and staff has included a 10% contingency of $10,080, bringing the total of the agreement to not exceed $110,880. A contingency is necessary to provide flexibility for staff so that we may provide security services beyond the proposed contract hours to address any additional issues or concerns that may arise.

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 1: Safe Community.

Agenda Report February 13, 2024
AMENDMENT TO AGREEMENT WITH SOUTHWEST PATROL, INC. Page 3

RECOMMENDED ACTION
Approve Amendment No. 1 to the Agreement with Southwest Patrol, Inc. for private security patrol service from February 18, 2024 through June 30, 2024, in an amount not to exceed $110,880, and authorize the Mayor or her designee to execute the agreement.

1 FIRST AMENDMENT TO THE AGREEMENT WITH SOUTHWEST PATROL, INC.

FOR NEIGHBORHOOD PATROL SERVICES

THIS FIRST AMENDMENT TO AGREEMENT FOR NEIGHBORHOOD PATROL SERVICES WITH SOUTHWEST PATROL, INC (“AMENDMENT”) is made and entered into this 13th day of February 2023 between the City of Paramount, a municipal corporation in Los Angeles County, California, (hereinafter “CITY”) and Southwest Patrol, Inc., a professional security company, with its primary office located at 1800 E. Lambert Road, #155, Brea, California 92821 (hereinafter “CONTRACTOR”) (collectively, “the Parties”), amending that certain agreement between CONTRACTOR and CITY approved by City Council June 27, 2023.

RECITALS
WHEREAS, CITY and CONTRACTOR entered into an Agreement on June 27, 2023 whereby CONTRACTOR would provide park supervision and security services for CITY; and
WHEREAS, CITY and CONTRACTOR each desire to amend the agreement to include overnight neighborhood patrols throughout the city.

NOW, THEREFORE, BE IT AMENDED BY AND BETWEEN THE PARTIES AS FOLLOWS:

1. DESCRIPTION OF SERVICES
Is hereby amended to incorporate “Exhibit B” so that CONTRACTOR shall provide a Neighborhood Security Detail with two (2) unarmed security guards to patrol 7 days out of the week (including holidays), from 10:00 p.m. to 6:00 a.m., in two marked security units.

2. COMPENSATION
Is hereby amended so that CITY agrees to pay CONTRACTOR an additional $110,880 in full compensation for all additional services performed.

CONTRACTOR shall prepare and present detailed statements for services rendered to CITY for the month preceding the statement, indicating each discrete task performed by the CONTRACTOR. Statements are due and payable upon approval by CITY.

IN WITNESS WHEREOF, the City and CONTRACTOR have executed this AGREEMENT as of the date first herein above set forth.

CITY OF PARAMOUNT SOUTHWEST PATROL, INC.

By: ________________________ By: ________________________ 2 Isabel Aguayo, Mayor Mike Gagon, Operations Manager
ATTEST:

By: ___________________________
Heidi Luce, City Clerk
APPROVED AS TO FORM:

By: ___________________________
John E. Cavanaugh, City Attorney
Exhibit B
January 23, 2024
SOUTHWEST PATROL, INC. has carefully identified the tasks to be performed, and the personnel profile necessary to ensure quality coverage. With these elements in mind, SOUTHWEST PATROL, INC. submits the following rates for your approval.

A. Neighborhood Patrol Services (Unarmed Uniformed Security Officer + Marked Vehicle)

1. February 18, 2024 – June 30, 2024

2. Sunday – Saturday, 10:00 p.m. – 6:00 a.m.

3. Two Guards @ $45/Hour, 2,240 Hours = $100,800
TOTAL COMPENSATION - $100,800
CONTINGENCY - $10,080

TOTAL NOT TO EXCEED PER YEAR FOR NEIGHBORHOOD PATROL SERVICES - $110,880
1800 E. Lambert Road Brea, Suite 155 CA 92821
1(800) 716-0600
www.southwestpatrol.com
Date: January 23, 2024
To Security Agreement Number: 29258
Effective February 18, 2024 End Date: June 30, 2024
 Armed Guard $ N/A Per Hour/Per Officer
 Unarmed Guard $ 45.00 Per Hour/Per Officer+ Marked Unit Off Duty Police Officer $ N/A Per Hour/Per Officer
 Virtual Guard $ N/A Per Hour/Per Camera
 Patrol Services $ N/A Per Visit /Per Day/ Per Location  Stand By time $ N/A Per Hour
 Response Service $ N/A Per Response
 Gas Fuel surcharge $N/A Per patrol/ Alarm Response/ Parking enforcement/Lockup or unlock services (When gas is between $3.50 to $4.00 per gallon)  Gas Fuel surcharge $0.50 Per patrol/ Alarm Response/ Parking enforcement/Lockup or unlock services (When gas is between $4.00 to $4.50 per gallon)  Gas Fuel surcharge $1.00 Per patrol/ Alarm Response/ Parking enforcement/Lockup or unlock services (When gas is between $4.50 to $5.00 per gallon)  Gas Fuel surcharge $1.50 Per patrol/ Alarm Response/ Parking enforcement/Lockup or unlock services (When gas is between $5.00 to $5.50 per gallon)  Every Additional $0.50 of gas price increases will result in $0.50 charge of the surcharge.  Holiday Pay 1.5 X __ the Per Hour rate (Christmas Eve, Christmas Day, Thanksgiving Day, New Years Eve, New Year’s Day, Easter, Memorial Day, Labor Day, and 4th of July)
This contract is open for negotiation upon new minimum wages or increased operating costs as set by local, state, or federal government.

The CUSTOMER agrees to pay Southwest Patrol by –Check-, once invoice is received and within our payment schedule (net-15) Due upon Receipt. We will add on a 5% late fee on each billing cycle until payment is received in full if payment becomes denied. CUSTOMER agrees to pay reasonable attorney and other fees, which may be incurred by Southwest Patrol, Inc. if collection action is needed under this contract. (All cancellations must be in writing).

Southwest Patrol Inc.:

C/o City of Paramount
By: ___________________________ By: Anita Lopez
Authorized representative Authorized Representative
Print: __ _____ Print: __Anita Lopez
1800 E. Lambert Road Brea, Suite 155 CA 92821
1(800) 716-0600
www.southwestpatrol.com
Security Agreement Number: 29258
This agreement made this day of January 23rd, 2024 between Southwest Patrol, Inc.___ _ __ (Here after called “COMPANY”) and City of Paramount
16400 Colorado Ave Paramount CA 90723 _
Street Address City State Zip
(Hereafter called the “CUSTOMER”.)
WITNESSETH: For and in consideration of the mutual covenants and agreements and of the payments hereinafter mentioned, the parties hereto agree as follows:

1. Commencing on February 18, 2024 and ending June 30, 2024, during the terms of the contract, the COMPANY agrees to furnish (A): (2) Unarmed uniform security officer with a marked unit will be starting work every day, seven days a week Monday- Sunday from 10:00pm and ending the next morning at 6:00am to be conducted at multiple address throughout the city. Any changes that need to be made have to be done in writing Via Email with a 24 Hour advance notice. Officer will be properly equipped, uniformed, and appropriately attired. And at such rates as specified in the rate schedule attached hereby as exhibit (“A”) and made a part hereof

2. COMPANY shall be responsible, for the direct supervision of the officers furnished through its designated representatives at the premises to which this contract relates and such representatives, will in turn, be available at all reasonable times to consult with the designated representatives of the CUSTOMER with respect to security services rendered there under. The COMPANY will pay all wages, expenses, federal, social security taxes, unemployment taxes, and any similar taxes. The COMPANY will, upon reasonable notice and request of the CUSTOMER, remove any guard from CUSTOMER’S premises any time it desires and for any reason whatsoever.

3. COMPANY and CUSTOMER agree that neither shall hire nor employ any present or former employee of the other during the time this contract is in effect and for a period of one year after the termination of the employment of such employee, without the written consent, or compensation ($20,000.00) of the other.

4. If there is enacted any law regulation, ruling or other such mandate, by an authority having jurisdiction of the subject matter which alters the hours of service, rates of pay, working conditions, or costs of performing the security service herein provided of, CUSTOMER agrees that this contract will be subject to renegotiations to take into account these increased costs.

Southwest Patrol Inc.:

C/o City of Paramount
By: ___________________________ By: Anita Lopez
Authorized representative Authorized Representative
Print: __ _____ Print: __Anita Lopez _
1800 E. Lambert Road Brea, Suite 155 CA 92821
1(800) 716-0600
www.southwestpatrol.com

5. SUBJECT TO THE TERMS AND CONDITIONS HEREIN AND HEREOF, All rates are subject to change according to any and all increased costs, with a thirty-day notice given to CUSTOMER.

Cancellation of this contract MUST be in WRITING for the early discontinuation of services requested by CUSTOMER.

COMPANY may cancel services with a (24) Twenty-four-hour notice to the Customer. This contract supersedes all other before it.

6. All workers compensation and liability insurance shall be the sole responsibility of Southwest Patrol and will be limited to the cap placed by the Insurance Company. Southwest Patrol carries a $3,000,000 liability policy.

Southwest Patrol Inc.:

C/o City of Paramount
By: ___________________________ By: Anita Lopez
Authorized representative Authorized Representative
Print: __ _____ Print: __Anita Lopez _
To: Honorable City Council
From: John Cavanaugh, City Attorney
By:

Date: February 13, 2024
SUBJECT: AMENDING SECTIONS 10.48.040, 10.48.050(C), 10.48.050(D),

10.48.120(A) AND ADDING A DEFINITION TO SECTION 10.48.020 OF TITLE 10 OF THE PARAMOUNT MUNICIPAL CODE INVOLVING MOTOR

VEHICLE SPEED CONTESTS OR EXHIBITIONS OF SPEED

BACKGROUND
In September 2020, the City Council adopted Ordinance Nos. 1134 and 1135, which addressed the growing problem of street racing in the City by establishing a comprehensive program for the lawful seizure of nuisance vehicles engaged in motor vehicle speed contests or exhibitions of speed and prohibiting spectators at those illegal events.

This comprehensive program (“Program”) has largely been successful due to the extraordinary efforts by both the City’s Public Safety Department and the Los Angeles County Sheriff’s department (“LASD”). As a result, street racing in the City of Paramount has been reduced and other jurisdictions in California have expressed interest in establishing similar programs.

Since the Program’s inception, the City’s Attorney’s office, Deputy District Attorney, Public Safety Department and LASD have had the opportunity to gauge the effectiveness of the Program with the objective of presenting to the City Council improved operations and additional enforcement tools.

DISCUSSION
When a Sheriff’s Deputy determines that a driver of a vehicle has violated California Vehicle Code Section 23109(a): motor vehicle speed contest; or Vehicle Code Section 23109(c): Exhibition of Speed, that vehicle is subsequently seized and impounded for thirty (30) days pursuant to California Vehicle Code Section 23109.2(a)(l)(B). At that time, both the City Attorney and Deputy District Attorney review the incident report from LASD and decide whether the matter qualifies for a hearing before an independent hearing officer who will determine:

1. Whether the seizure of the vehicle is incident to an arrest or search under a search warrant; and
Agenda Report February 13, 2024
ORDINANCE NO. 1182 Page 2

2. There is probable cause to believe the vehicle was used in violation of Section 23109(a) or 23109(c) and City Ordinance No. 1134 (Chapter 10.48 of the Paramount Municipal Code).

Pursuant to Ordinance No. 1134, the Public Safety Department is required to conduct an investigation as to the address of the driver, the registered owner of the vehicle and any lien holder of the vehicle (“claimants”). A notice of an administrative hearing to determine the legal validity of the seizure and impound of the vehicle must be mailed to the above individual(s) no later than two (2) days following the seizure of the vehicle. Moreover, the Public Safety Department is required to coordinate with an independent hearing officer to hold a post-seizure hearing within two (2) days of a request from the Public Safety Director or claimant(s) for such hearing. These requirements are necessary to provide the driver, registered owner and/or lien holder with the necessary procedural due requirements under the law. However, it has been found that such short notice and scheduled hearing become a challenge to both the Public Safety Department and the potential claimants in the attendance of the administrative hearing. In order to alleviate these challenges and still provide the necessary legal due process to the claimants, City staff recommends Ordinance No.1134 be amended to extend the notification time from two (2) days to five (5) days and to extend the scheduled administrative hearing date from two (2) days to ten (10) days.

California Vehicle Code Section 23103 defines “Reckless Driving” as a person who drives a vehicle upon a highway in willful or wanton disregard for the safety of persons or property. LASD deputies have observed that drivers participating in the “intersection takeovers” not only cause considerable damage to the street intersections but also create potential hazards to the health and safety of the public.

Under California Vehicle Code Section 14602.7, law enforcement can obtain a warrant to seize a vehicle they observe committing a violation of Vehicle Code Section 23103 in their presence in the event law enforcement cannot immediately apprehend the perpetrator.

This happens when (a) the perpetrator in the vehicle leaves before the deputy arrives at the scene; or (b) the deputy arrives at the scene of the intersection takeover, but the crowd of spectators block the deputy’s vehicle; allowing the perpetrator to leave the area. If LASD deputies are able to view the license plate of the vehicle involved in the unlawful incident, then, under Section 14602.7, LASD can obtain a warrant for that vehicle and seize it for thirty (30) days. This would also apply to any violations of Section 23103 where law enforcement observes either through live surveillance cameras within the City or live on social media.

This addition of Section 23103 to Ordinance No. 1134 as a violation is important because the City is considering adding software to allow for live feed on the City’s current Flock camera system. The live feed will assist LASD in the following scenario:
(a) When a call for service of an intersection takeover is actively occurring, law enforcement personnel with access to the live feed can immediately turn it on and Agenda Report February 13, 2024
ORDINANCE NO. 1182 Page 3
watch in real time what is occurring should a patrol car be unable to get to the unlawful event before the perpetrator leaves the location; (b) If the perpetrator is able to leave the scene of the unlawful event but the camera picks up the license plate of the vehicle while the deputy viewed the action live, a warrant can be obtained to seize the vehicle for thirty (30) days under Section 14602.7 for violating Section 23103.

To further combat street racing and intersection takeovers in the City of Paramount, it is the professional opinion of the City Attorney, Deputy District Attorney, the Public Safety Department and the LASD that the City Council authorize amending Ordinance No. 1134 to include the above referenced changes.

FISCAL IMPACT
None.

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 1: Safe Community - Provide a safe place to live, work, and visit.

RECOMMENDED ACTION
Read by title only, introduce Ordinance No. 1182 and place it on the February 27, 2024 agenda for adoption.

CITY OF PARAMOUNT

LOS ANGELES COUNTY, CALIFORNIA
ORDINANCE NO. 1182

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
PARAMOUNT AMENDING SECTIONS 10.48.040, 10.48.050(C),

10.48.050(D), 10.48.120(A) AND ADDING A DEFINITION TO SECTION

10.48.020 OF TITLE 10 OF THE PARAMOUNT MUNICIPAL CODE

INVOLVING MOTOR VEHICLE SPEED CONTESTS OR EXHIBITIONS

OF SPEED

THE CITY COUNCIL OF THE CITY OF PARAMOUNT DOES HEREBY ORDAIN AS FOLLOWS:

WHEREAS, on September 1, 2020, the City Council of the City of Paramount adopted Ordinance No. 1134 which established a comprehensive program for the Forfeiture of Nuisance Vehicles engaged in Motor Vehicle Speed Contests or Exhibitions of Speed; and
WHEREAS, it is necessary to amend the dates for both the notice of seizure and the scheduled post-seizure administrative hearings in order to provide any potential claimants a better opportunity to attend the administrative hearing to determine the validity of the seizure; and
WHEREAS, Under California Vehicle Code Section 14602.7, law enforcement can obtain a warrant to seize a vehicle they observe violating California Vehicle Code Section 23103 (“Reckless Driving”) in their presence. If law enforcement cannot immediately apprehend the perpetrator but is able to identify the license plate of the vehicle involved in the violation of Section 23103, they can get a warrant for that vehicle and seize it for thirty (30) days pursuant to Section 14602.7. This would also apply to any violations of Section 23103 they observe on live surveillance cameras in the City or live on social media; and
WHEREAS, This addition of Section 23103 to the Ordinance No. 1134 is important because the City is considering adding software to allow for live feed on the current Flock camera system. The live feed will assist the Los Angeles County Sheriff department deputies in the following way: (1) when a call for service of a street racing/intersection takeover is received, deputies with access to the live feed can immediately turn it on and watch in real time what is occurring if a patrol car is unable arrive at the scene before the offender escapes; (2) if the perpetrator escapes before a patrol car arrives, but a camera can accurately identify the license plate of the vehicle and the deputy viewed the action live under California Vehicle Code Section 14602.7, a warrant can be obtained to seize the vehicle for thirty (30) days for violating Section 23103.

ORDINANCE NO. 1182
February 27, 2024; Page 2
WHEREAS, the City Council of the City of Paramount finds it is necessary and appropriate to take additional steps to protect public health and safety.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PARAMOUNT DOES ORDAIN AS FOLLOWS:

SECTION 1. Section 10.48.020. Definitions is hereby amended to add the following definition to read as follows:
“Reckless Driving” means A person who drives a vehicle upon a highway in willful or wanton disregard for the safety of persons or property as defined by California Vehicle Code Section 23103.

SECTION 2. Section 10.48.040 of Title 10 of the Paramount Municipal Code is hereby amended to read as follows:

A motor vehicle shall be declared a nuisance and shall be seized and subject to forfeiture under this Article if:

A. It is used in violation of California Vehicle Code Sections 23103, 23109(a) or (c); and
B. 1. It is driven by the registered owner of the vehicle at the time of the violation or the registered owner is a passenger in the vehicle at the time of the violation; or

2. It is driven by a member of the registered owner’s immediate family at the time of the violation, or a member of the registered owner’s immediate family is a passenger in the vehicle at the time of the violation; or

3. The driver or a passenger lives at the same address as the registered owner at the time of the violation; or

4. The driver or a passenger in the vehicle at the time of the violation has a prior contact in the vehicle, as determined by law enforcement records.

C. Declaration of this nuisance is made in accordance with the authority granted to the City in California Government Code, § 38771, and as amended from time to time.

SECTION 3. Section 10.48.050(C) of Title 10 of the Paramount Municipal Code is hereby amended to read as follows:

C. An immediate investigation shall be made by the Director of Public Safety making the seizure as to any potential claimant to a vehicle whose right, title, interest, or lien is of record in the Department of Motor Vehicles of this or any other state or ORDINANCE NO. 1182
February 27, 2024; Page 2
appropriate federal agency. If the Public Safety Director finds that any person, other than the registered owner, is the legal owner, and the ownership did not arise subsequent to the date and time of arrest or seizure of the vehicle or notification of the forfeiture proceedings, the Public Safety Director shall, within five (5) days of the vehicle’s seizure, send a notice of seizure to the legal owner at his or her address appearing on the records of the Department of Motor Vehicles of this or any other state or any appropriate federal agency.

SECTION 4. Section 10.48.050(D) of Title 10 of the Paramount Municipal Code is hereby amended to read as follows:

D. The Director of Public Safety making the seizure of the vehicle shall provide any potential claimants discovered as a result of the investigation set out in Section

10.48.050(c). with the opportunity for a post-seizure hearing to determine the validity of the seizure. The post-seizure hearing shall be conducted within ten (10) days of the request. The Director of Public Safety shall cause an independent hearing officer to hold the post-hearing proceedings. Failure of either a registered or legal owner to request a hearing as provided in Section 10.48.050 or to attend a scheduled hearing shall satisfy the post-seizure hearing requirement.

SECTION 5. Section 10.48.120(A) of Title 10 of the Paramount Municipal Code is hereby amended to read as follows:

A. A stipulated vehicle release agreement shall provide for the consent of the signers to the automatic future forfeiture and transfer of title to the City of any vehicle registered to that person, if the vehicle is used in violation of California Vehicle Code Sections 23103, 23109(a) or (c). The agreement shall be in effect for five (5) years from the date of signing and shall be maintained by the Director of Public Safety.

SECTION 6. CEQA. The City Council finds the approval of this ordinance amendment is not subject to the California Environmental Quality Act ("CEQA") pursuant to CEQA Guidelines Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and 15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3, because it has no potential for resulting in physical change to the environment, directly or indirectly. Alternatively, the City Council finds the approval of this ordinance is not a project under CEQA Regulation Section 15061(b)(3) because it has no potential for causing a significant effect on the environment.

SECTION 7. Severability. If any section, subsection, sentence, clause, phrase, or portion of this Ordinance is for any reason held to be invalid or unconstitutional by the decision of any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this Ordinance. The City Council of this City hereby declares ORDINANCE NO. 1182
February 27, 2024; Page 2
that it would have adopted this Ordinance and each section, subsection, sentence, clause or phrase, or portion thereof, irrespective of the fact that anyone or more sections, subsections, clauses, phrases, or portions are declared invalid or unconstitutional.

SECTION 8. Effective Date. This Ordinance shall take full force and effect thirty (30) days after its adoption.

SECTION 9. The City Clerk shall certify to the adoption of this Ordinance and shall cause the same to be published as required by law.

PASSED, APPROVED AND ADOPTED by the City Council of the City of Paramount this 27th day of February 2024.

Isabel Aguayo, Mayor
ATTEST
Heidi Luce, City Clerk
To: Honorable City Council
From: John Moreno, City Manager
By: Margarita Matson, Public Safety Director
Date: February 13, 2024
SUBJECT: 2023 ANNUAL UNIFORM CRIME REPORT
Lakewood Sheriff's Station Captain Holguin will present the 2023 Annual Uniform Crime Report (UCR) statistics for the City of Paramount. This oral report will summarize the UCR crime data, which is classified into violent crimes of homicide, rape, assault, and robbery.

The UCR statistics also include property crimes of burglary, theft, auto theft, and arson.

Other details will include response times, calls for service and arrests.

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission and Values set the standard for the organization; establish priorities, uniformity, and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No. 1: Safe Community.

To: Honorable City Council
From: John Moreno, City Manager
By: Margarita Matson, Public Safety Director
Date: February 13, 2024
SUBJECT: PUBLIC SAFETY RESIDENT SATISFACTION SURVEY 2023 This is an annual presentation made to the City Council by the Public Safety Director. The presentation summarizes how residents rate the overall services provided by law enforcement and non-sworn personnel when responding to a call-for-service.

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission and Values set the standard for the organization; establish priorities, uniformity, and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No. 1: Safe Community.

To: Honorable City Council
From: John Moreno, City Manager
By: John Carver, Planning Director
Date: February 13, 2024
SUBJECT: GENERAL PLAN AMENDMENT 24-1

CHANGING THE GENERAL PLAN LAND USE DESIGNATION FROM

CENTRAL INDUSTRIAL DISTRICT TO MULTIPLE-FAMILY
RESIDENTIAL FOR THE PROPERTIES AT 15529 COLORADO AVENUE AND OTHER NEARBY PROPERTIES ON THE SAME BLOCK IN THE RM (MULTIPLE-FAMILY RESIDENTIAL) ZONE

BACKGROUND
This item is a request by Soo-Hyun Yoon to change the General Plan Land Use Designation from Central Industrial District to Multiple-Family Residential for properties at 15529 Colorado Avenue in the R-M (Multiple-Family Residential) zone. Along with this request, staff is recommending the addition of all the properties on the east and west sides of the 15500 block of Colorado Avenue and 7820 Jefferson Street, 7822 Jefferson Street, 7828 Jefferson Street, 7906 Jefferson Street, 7821 Madison Street, and 7913 Madison Street. The change would bring the properties into consistency with the existing conditions of the area.

The Planning Commission recommended approval of the General Plan amendment at its meeting on January 3, 2024.

The project was initiated by a single applicant, Soo-Hyun Yoon, who is the property owner of 15529 Colorado Avenue. The project applicant also submitted an application -- Development Review Application No. 24:002 -- to construct five single-family homes at 15529 Colorado Avenue. On January 3, 2024, the Development Review Board approved this request to construct five homes. In order for this development to proceed, the General Plan Land Use Designation must be changed from Central Industrial District to MultipleFamily Residential.

Staff determined that the proposed change to the General Plan Land Use Designation is only viable if broadened to include the entire 15500 Colorado Avenue block. In summary, each of the four properties at 7820 Jefferson Street, 7822 Jefferson Street, 7828 Jefferson Street, 7906 Jefferson Street, contain either a single-family detached home or duplex units. 7821 Madison Street is a 7,500 square foot lot and 7913 Madison Street is a 15,000 square foot lot. The other properties on this block of Colorado Avenue are a mix of residential densities. There are no plans to redevelop these properties.

Agenda Report February 13, 2024
GENERAL PLAN AMENDMENT 24-1 Page 2
Below is an aerial photo indicating the project area:

DISCUSSION
As noted previously, the applicant submitted an application to change the General Plan land use classification for the property at 15529 Colorado Avenue. Upon review of the merits of the proposal and similarly designated and developed land parcels in the surrounding neighborhood, staff determined justification to extend the land use and complimentary General Plan amendment to the entire block. The areas include the east and west sides of the 15500 block of Colorado Avenue and 7820 Jefferson Street, 7822 Agenda Report February 13, 2024
GENERAL PLAN AMENDMENT 24-1 Page 3
Jefferson Street, 7828 Jefferson Street, 7906 Jefferson Street, 7821 Madison Street, and 7913 Madison Street. The Multiple-Family Residential land use designation will allow for this block to match the existing R-M zoning designation and the character of the surrounding residential neighborhood.

Given the existing R-M-zoned properties to the east and west of the subject site along Colorado Avenue, the project will not be out of character with the surrounding zoning and the General Plan. Finally, the project will integrate well with the surrounding neighborhood and ensure industrial development will not be possible.

Housing Element
The proposed General Plan amendment supports Policy 1.3 (Adverse Impacts) of Goal H-1: Housing and Residential Neighborhoods That Are Well Maintained of the adopted Paramount Housing Element. This policy is to "protect established residential neighborhoods from potential adverse impacts associated with existing and proposed nonresidential land uses.”
Analysis
Upon approval of this item, the proposed General Plan Land Use Designation of MultipleFamily Residential will be consistent with the R-M zone, which allows for multiple-family residential uses. Given the existing R-M properties surrounding the subject site, the project will not be out of character with the surrounding zoning. The project will integrate well with the surrounding neighborhood, which is comprised of residential properties.

Finally and most importantly, the change from Central Industrial District to Multiple-Family Residential will ensure that industrial development such as a manufacturing business or warehouse will not be possible in this established residential neighborhood.

Environmental Assessment
This project is a Class 32 (infill development) Categorical Exemption pursuant to Article 19, Section 15332 of California Environmental Quality Act (CEQA) Guidelines for 15529 Colorado Avenue and the project is exempt from the provisions of the California Environmental Quality Act per Section 15061(b)(3) – general rule that CEQA only applies to projects which have the potential for causing a significant effect on the environment for the other properties.

FISCAL IMPACT
None.

Agenda Report February 13, 2024
GENERAL PLAN AMENDMENT 24-1 Page 4

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity, and guidelines; and provide the framework for policy decisionmaking. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision of a city that is safe, healthy, and attractive. This item aligns with Strategic Outcome No 1: Safe Community - Provide a safe place to live, work, and visit.

RECOMMENDED ACTION
Read by title only and adopt Resolution No. 24:004.

CITY OF PARAMOUNT

LOS ANGELES COUNTY, CALIFORNIA
RESOLUTION NO. 24:004

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

PARAMOUNT SETTING FORTH ITS FINDINGS OF FACT AND
DECISION RELATIVE TO GENERAL PLAN AMENDMENT NO. 24-1, A

REQUEST BY SOO-HYUN YOON TO CHANGE THE GENERAL PLAN

LAND USE DESIGNATION FROM CENTRAL INDUSTRIAL DISTRICT
TO MULTIPLE-FAMILY RESIDENTIAL FOR PROPERTIES AT 15529

COLORADO AVENUE IN THE R-M (MULTIPLE-FAMILY RESIDENTIAL)

ZONE WITH THE ADDED PROPERTIES ON THE EAST AND WEST
SIDES OF THE 15500 BLOCK OF COLORADO AVENUE AND 7820
JEFFERSON STREET, 7822 JEFFERSON STREET, 7828 JEFFERSON STREET, 7906 JEFFERSON STREET, 7821 MADISON STREET, AND 7913 MADISON STREET.

WHEREAS, the City Council of the City of Paramount has considered a request by Soo-Hyun Yoon to change the General Plan Land Use Designation from Central Industrial District to Multiple-Family Residential for properties at 15529 Colorado Avenue in the R-M (Multiple-Family Residential) zone with the added properties on the east and west sides of the 15500 block of Colorado Avenue and 7820 Jefferson Street, 7822 Jefferson Street, 7828 Jefferson Street, 7906 Jefferson Street, 7821 Madison Street, and 7913 Madison Street; and
WHEREAS, the City Council of the City of Paramount has caused notices to be published in the time and manner as required by law; and WHEREAS, the Planning Commission of the City of Paramount conducted a public hearing relative to General Plan Amendment No. 24-1 on January 3, 2024 and recommended approval.

WHEREAS, this project is exempt from the provisions of the California Environmental Quality Act (CEQA), Class 32 (infill development) Categorical Exemption pursuant to Article 19, Section 15332 of California Environmental Quality Act (CEQA) Guidelines for 15529 Colorado Avenue; and the project is exempt from the provisions of the California Environmental Quality Act per Section 15061(b)(3) – general rule that CEQA only applies to projects which have the potential for causing a significant effect on the environment for the other properties.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARAMOUNT AS FOLLOWS:

SECTION 1. The above recitations are true and correct.

SECTION 2. The City Council finds that it has conducted all the public hearings necessary and in compliance with State Law and the Municipal Code of the City of Paramount.

RESOLUTION NO. 24:004

SECTION 3. The City Council finds that the evidence presented does justify the granting of this application for the following reasons:

1. That modified conditions warrant a revision in the General Plan Land Use Map as it pertains to the area under consideration.

2. That placement of the proposed land use designation at such location will not:
a. Adversely affect the health, peace, or welfare of persons residing or working in the surrounding area; and
b. Jeopardize, endanger, or otherwise constitute a menace to the public health, safety, or general welfare.

3. That such land use designation is necessary or desirable for the development of the community, is essentially in harmony with the various elements of the General Plan, and is not detrimental to existing uses.

SECTION 4. Based upon the foregoing findings, the City Council approves General Plan Amendment No. 24-1.

SECTION 5. The General Plan Land Use Map of the City of Paramount as comprehensively updated when adopted by the City Council on August 7, 2007 is amended as shown on the map attached hereto, marked Exhibit “A”, to be changed from the designation of Central Industrial District to Multiple-Family Residential. Said change shall be made on the General Plan Land Use Map of the City of Paramount.

SECTION 6. This Resolution shall take effect immediately upon its adoption.

PASSED, APPROVED, and ADOPTED by the City Council of the City of Paramount this 13th day of February 2024.

Isabel Aguayo, Mayor
ATTEST:

Heidi Luce, City Clerk
https://paramountcity1957.sharepoint.com/sites/planning/shared documents/planningdiv/ivanreyes/reports 2024/cc/gpa241/gpa241rescc.docx General Plan Amendment No. 24-1
Existing General Plan Land Use Designation
15529 Colorado Ave
Area Plan – Central Industrial District
Harrison St.
70th St. Paramount Blvd.

Eureka Ave.

Jefferson St.

Madison St.

Colorado Ave.

Vermont Ave
Paramount Blvd.

Area Plan – Central Business District
General Plan Amendment No. 24-1
Proposed General Plan Land Use Designation
15529 Colorado Ave
Area Plan – Central Industrial District
Harrison St.
70th St. Paramount Blvd.

Eureka Ave.

Jefferson St.

Madison St.

Colorado Ave.

Vermont Ave
Paramount Blvd.

Area Plan – Central Business District
Multiple-Family Residential
General Plan Amendment 24-1
Existing Zoning
15529 Colorado Ave.

R-M (Multiple-Family Residential)
C-3 (General Commercial)
M-1 (Light Manufacturing)
C-M (Commercial-Manufacturing)
15529
Jefferson St.

Madison St.

Colorado Ave.

Vermont Ave
Paramount Blvd.

General Plan Amendment No. 24-1
Land Use
15529 Colorado Ave
Harrison St.
70th St. Paramount Blvd.

Eureka Ave.

Jefferson St.

Madison St.

Colorado Ave.

Vermont Ave
Paramount Blvd.

Multiple-Family Residential
Commercial
Industrial
Open Space
Single-Family Residential
Mixed Residential/Industrial
Institutional
15529
To: Honorable City Council
From: John Moreno, City Manager
By: Kim Sao, Finance Director
Date: February 13, 2024
SUBJECT: ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR) FOR FISCAL YEAR ENDED JUNE 30, 2023

BACKGROUND
Government Code Sections 40804 and 53891 and various other federal and state regulations provide that the City prepare and publish annual audited financial statements.

The City’s new independent auditors, The Pun Group LLP, an independent public accounting firm, have concluded their financial audit of the City’s Annual Comprehensive Financial Report (Annual Report or ACFR) for the fiscal year ending June 30, 2023. The reports will be posted on the City’s website and distributed to other agencies as provided by law.

The Annual Report for fiscal year ending June 30, 2023 summarizes the financial activities of the City, its component units that included the Paramount Housing Authority and the Paramount Parking Authority, and the Successor Agency for the Paramount Redevelopment Agency as required by the Governmental Accounting Standards Board (GASB).

ANALYSIS
The Annual Report contains an unmodified opinion, which means that the auditor has opined that the ACFR presents fairly, in all material respects, the financial activities of the City, its component units, and the Successor Agency for the Paramount Redevelopment Agency, in accordance with Generally Accepted Accounting Principles (GAAP).

An oral presentation, given at the February 13th City Council meeting, will incorporate a review of the audit and the City’s financial position as of the fiscal year ended June 30, 2023.

FISCAL IMPACT
None.

Agenda Report February 13, 2024
ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR FY 2022-23 Page 2

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 6: Efficient, Effective, and Fiscally Responsible - Deliver an efficient and effective City government in a fiscally responsible, transparent and collaborative manner.

RECOMMENDED ACTION
Receive and file the Annual Comprehensive Financial Report for Fiscal Year Ended June 30, 2023.

ANNUAL

COMPREHENSIVE

FINANCIAL REPORT

FISCAL YEAR ENDED
JUNE 30, 2023
www.paramountcity.com
16400 Colorado Ave.

Paramount, Ca 90723

CITY OF PARAMOUNT

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FISCAL YEAR ENDED JUNE 30, 2023
Prepared by the Finance Department
Kim Sao
Finance Director

City of Paramount
Annual Comprehensive Financial Report
For the Year Ended June 30, 2023
Table of Contents
Page

INTRODUCTORY SECTION
Letter of Transmittal ................................................................................................................................................... i Officials of the City of Paramount ........................................................................................................................... vii Organizational Chart ............................................................................................................................................... viii Certificate of Achievement for Excellence in Financial Reporting (GFOA) ........................................................... ix

FINANCIAL SECTION
Independent Auditors’ Report on the Audit of the Financial Statements ................................................................ 1 Management’s Discussion and Analysis (Unaudited) ................................................................................................. 5 Basic Financial Statements:

Government–Wide Financial Statements:

Statement of Net Position .................................................................................................................................. 19 Statement of Activities ...................................................................................................................................... 20 Fund Financial Statements:

Governmental Fund Financial Statements:

Balance Sheet .............................................................................................................................................. 27 Reconciliation of the Governmental Funds Balance Sheet
of Governmental Funds to the Statement of Net Position .................................................................... 28 Statement of Revenues, Expenditures,
and Changes in Fund Balances ............................................................................................................. 29 Reconciliation of the Statement of Revenues,
Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities .................................................................................................... 30

Proprietary Fund Financial Statements:

Statement of Net Position - Proprietary Funds ........................................................................................... 33 Statement of Revenues, Expenses, and Changes
in Fund Net Position - Proprietary Funds ............................................................................................. 34 Statement of Cash Flows - Proprietary Funds ............................................................................................ 35 Fiduciary Fund Financial Statements:

Statement of Fiduciary Net Position ........................................................................................................... 39 Statement of Changes in Fiduciary Net Position ........................................................................................ 40 Notes to the Basic Financial Statements .............................................................................................................. 45 City of Paramount
Annual Comprehensive Financial Report
For the Year Ended June 30, 2023
Table of Contents (Continued)
Page
FINANCIAL SECTION (Continued)
Required Supplementary Information (Unaudited):

Budgetary Comparison Schedules:

General Fund ............................................................................................................................................................. 86 Other Grants Special Revenue Funds ....................................................................................................................... 87 American Rescue Plan Act Special Revenue Funds ................................................................................................. 88 Notes to the Budgetary Comparison Schedules .............................................................................................................. 89 Schedule of the City’s Proportionate Share of the Net Pension Liability ...................................................................... 90 Schedule of the City’s Pension Plan Contributions ........................................................................................................ 92 Schedule of the City’s Changes in Net OPEB Liability and Related Ratios .................................................................. 94 Schedule of the City’s OPEB Contributions .................................................................................................................. 96 Supplementary Information:

Nonmajor Governmental Funds:

Combining Balance Sheet - Nonmajor Governmental Funds ................................................................................ 105 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds ....................................................................................... 110 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual:

Community Development Block Grant Special Revenue Fund ...................................................................... 115 HOME Partnership Act Special Revenue Fund .............................................................................................. 116 Paramount Housing Authority Special Revenue Fund .................................................................................... 117 Community Development Block Grant Coronavirus Special Revenue Fund ................................................. 118 After School Education and Safety Special Revenue Fund ............................................................................ 119 State Gas Tax Special Revenue Fund .............................................................................................................. 120 Traffic Safety Special Revenue Fund .............................................................................................................. 121 Waste Reduction Fees Special Revenue Fund ................................................................................................ 122 AB2766 Subvention Funds Special Revenue Fund ......................................................................................... 123 Disability Access and Education Fees Special Revenue Fund ........................................................................ 124 SB1 Road Maintenance & Rehabilitation Account Special Revenue Fund .................................................... 125 Proposition A Transit Tax Special Revenue Fund .......................................................................................... 126 Proposition C Transit Tax Special Revenue Fund .......................................................................................... 127 Measure R Transit Tax Special Revenue Fund ............................................................................................... 128 Measure M Transit Tax Special Revenue Fund ............................................................................................. 129 Measure W Safe Clean Water Special Revenue Fund ................................................................................... 130 Sewer Reconstruction Fees Special Revenue Fund ........................................................................................ 131 Public Art Fees Special Revenue Fund .......................................................................................................... 132 Public Access Fees Special Revenue Fund ..................................................................................................... 133 Storm Drain Fees Special Revenue Fund ....................................................................................................... 134 General Plan Fees Special Revenue Fund ...................................................................................................... 135 Service Assessments Special Revenue Fund ................................................................................................... 136 City of Paramount
Annual Comprehensive Financial Report
For the Year Ended June 30, 2023
Table of Contents (Continued)
Page

STATISTICAL SECTION (UNAUDITED)
Table 1 - Net Position by Component ............................................................................................................ 140 Table 2 - Changes in Net Position .................................................................................................................. 142 Table 3 - Fund Balances of Governmental Funds .......................................................................................... 146 Table 4 - Changes in Fund Balances of Governmental Funds ....................................................................... 148 Table 5 - Taxable Sales by Category .............................................................................................................. 150 Table 6 - Direct and Overlapping Sales Tax Rates ........................................................................................ 153 Table 7 - Principle Sales Tax Producers ......................................................................................................... 154 Table 8 - Ratios of Outstanding Debt by Type ............................................................................................... 155 Table 9 - Ratios of General Bonded Debt Outstanding .................................................................................. 156 Table 10 - Direct and Overlapping Governmental Activities Debt ................................................................ 157 Table 11 - Legal Debt Margin Information .................................................................................................... 158 Table 12 - Pledged-Revenue Coverage .......................................................................................................... 160 Table 13 - Demographic and Economic Statistics ......................................................................................... 161 Table 14 - Principle Employers ...................................................................................................................... 162 Table 15 - Full-time Equivalent City Employees by Function ....................................................................... 163 Table 16 - Operating Indicators by Function ................................................................................................. 164 Table 17 - Capital Asset Statistics by Function .............................................................................................. 166 This page intentionally left blank.

ISABEL AGUAYO
Mayor
ANNETTE C. DELGADILLO
Vice Mayor

PEGGY LEMONS
Councilmember

BRENDA OLMOS
Councilmember

VILMA CUELLAR STALLINGS
Councilmember
Honorable City Council and Residents of the City of Paramount INTRODUCTION It is our pleasure to submit the Annual Comprehensive Financial Report (ACFR) of the City of Paramount for the fiscal year ended June 30, 2023. The responsibility for the accuracy of the presented data and the completeness and fairness of the presentation rests with the City's management. The report includes the combined transactions and financial position of all funds of the City of Paramount, including its blended component units for which the City Council is also the governing body:
i Paramount Housing Authority
i Paramount Parking Authority
i Paramount Industrial Development Authority
i Paramount Public Financing Authority
The enclosed financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP) as recommended by the Governmental Accounting Standards Board (GASB). The complete report is divided into three sections:

Introduction The introductory section includes this Letter of Transmittal and other information to familiarize the read with the City: A Roster of Officials, an Organizational Chart, and prior year Award for Financial Reporting.

Financial The financial section consists of five parts: 1) Independent Auditor’s Report, 2) Management’s Discussion and Analysis (MD&A), 3) Basic Financial Statements and accompanying
Notes to Basic Financial Statements, 4) Required
Supplementary Information, and 5) Supplementary Information that includes additional statements and schedules for nonmajor governmental funds.

Statistical The statistical section includes pertinent financial and nonfinancial data that present historical trends and other information about the City in a multi-year basis
16400 Colorado Avenue, Paramount, CA 90723-5012, Ph: 562-220-2000, Fax: 562-630-6731 www.paramountcity.com
December 22, 2023
i
To the best of our knowledge and belief, the enclosed data is accurate in all material respects, and fairly presents the financial position and results of operations of the City of Paramount and its related organizations. We have an established internal control structure designed to ensure accurate financial reporting, safeguard our assets, and compile sufficient reliable information for the preparation of the City’s financial statements in conformity with GAAP. Because the cost of internal controls should not outweigh their benefits, the City‘s comprehensive framework of internal controls has been designed to provide reasonable, rather than absolute, assurance that the financial statements will be free from material misstatement. Included are the Management’s Discussion and Analysis (MD&A) and all disclosures necessary to enable the reader to gain an understanding of the City’s financial activities as well as the Independent Auditor’s Report from the City's certified public accountant, The Pun Group LLP.

In a location first settled in the early 1800s as part of a Spanish land grant, the City of Paramount is fifteen miles southeast of downtown Los Angeles. Known in the 1930s as the communities of Hynes and Clearwater, the area was a nationally prominent center of the dairy and hay industries. Hynes-Clearwater joined together under the common name of Paramount in 1948, grew steadily, and in 1957 incorporated as a City.

Today, Paramount provides a broad range of municipal services. Approximately five square miles in size, Paramount has a population of approximately 53,000 and more than 3,000 businesses.

The City offers attractive residential neighborhoods, easy access to major shopping centers, and many cultural and recreational activities in its 60 acres of parkland. The City's business community has helped in the growth and development of the Southeast Los Angeles area, and today it is an important contributor to the greater Los Angeles commercial and industrial marketplace.

INTRODUCTION
(cont.)

PROFILE OF THE

CITY OF

PARAMOUNT
ii
GASB requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of the MD&A. This letter of transmittal you are currently reading is designed to complement the MD&A and should be read in conjunction with it. The MD&A can be found immediately following the Independent Auditor’s Report in the financial section of the statements.

The City Council reviews and adopts an annual budget in June of each fiscal year to provide guidance for the general operation of the City. The level of budgetary control over appropriation is at the activity level. The City Manager may transfer appropriations within an activity, and may transfer appropriations within a fund without City Council approval, provided the total appropriation at the activity level and the fund level does not change. Budgetary changes, including supplemental appropriations or appropriation reductions, may be made by the City Council during the fiscal year or at a midyear budget review.

In May 2023, the City Council adopted a Fund Balance Policy that will improve operational stability and ensure that the City is better prepared for the financial risk of economic downturn and catastrophic emergencies. The Government Finance Officer’s Association (GFOA) recommends that cities maintain a minimum reserve of 16% - 17% of the operating revenue or expense or equal to two months. As of fiscal year ending June 30, 2023, the City committed $23.8 million for operating reserve, economic uncertainty, and infrastructure and facililities emergencies, representing 70% of the FY 2022-23 General Fund adopted operating budget.

The City Council annually adopts, by resolution, a statement of investment policy for the City’s funds. The last major revisions to the investment policy were made in June 2022, which narrowed down the investment options to those considered safest and extended the maturity period from three years to five years. The policy defines the objectives and priorities of the investment program, stressing safety, liquidity, and yield of funds as the highest priorities. The third priority, yield, is the achievement of the maximum yield possible within the constraints of the first two objectives. The investment policy was certified by the California Municipal Treasurers Association Policy Certification Program, which provides professional guidance that meets industry best practices for public sector investing. The City has since begun to engage more proactively in investment activities that allow us to earn a return on our idle cash without jeopardizing our primary objectives.

The Finance Director is charged with the responsibility of custody and investment of surplus City funds. She submits a quarterly investment report to the City Council that provides a summary of the status of the current investment portfolio and material transactions entered during the quarter.

The City participates in the California Joint Powers Insurance Authority (CJPIA). The purpose of this organization is to reduce the cost of liability insurance coverage by having the member cities act as self-insurers among themselves. Note 10 of the Notes to Basic Financial Statements (Pages 79-81) describes in depth the premium and liability coverage of the members.

ADOPTION OF
GASB STATEMENTS

BUDGETARY

POLICY &

CONTROL
CASH

MANAGEMENT

POLICIES &

PRACTICES
RISK

MANAGEMENT

FUND BALANCE
POLICY
iii
As of June 30, 2023, the General Fund balance is $47,199,250, which is an increase of $17,385,761 from the prior year due to increases in revenues and reimbursements from the American Rescue Plan Act Funding for public safety expenditures that qualify under the revenue loss/replacement category for use of fund. Of this $47.2 million balance, $23.8 million is committed for operating, economic uncertainty and infrastructure reserves; $21.4 million is assigned for specific purposes; and $1.6 million is unassigned and available for spending at the City’s discretion. Details on the General Fund balance can be found in Note 12 to Basic Financial Statements on page 82.

Prior to the economic shutdown which began in the middle of March 2020, a Public Safety and Essential City Services Measure, also known as Measure Y, was put before Paramount voters in the March 2020 election providing a three-quarter-cent sales tax increase to address a fast-approaching structural deficit and the City’s efforts to maintain the high level of services for our residents. The measure was approved overwhelmingly by Paramount voters and took effect on July 1, 2020, which provided $5.5 million in revenue in its first fiscal year ending June 30, 2021, $7.2 million in its second fiscal year ending June 30, 2022, and $8.1 million in its third fiscal year ending Junae 30, 2023. This upward trend in the first three years is expected to stabilize by FY 2023-24.

This local funding measure requires strict accountability and will be subject to independent financial audits. By law, none of its income can be taken away by the State or the County. Previously, Paramount received one tenth of the revenues collected from the 9.5% Bradley-Burns Tax sales tax, the rest went to the State and County. One hundred percent of the Measure Y three-quarter-cent increase approved by voters in March, stays in Paramount, ensuring that taxpayer dollars are used effectively for City programs and services. The City also works intensely and steadily to attract new retail establishments to increase its tax base and improve quality of life.

In FY 2021-22, the City also received $18,895,185 from the American Rescue Plan Act (ARPA) funding of 2021. Since this funding was required to be expended by December 31, 2026, the City Council approved a spending plan which has allowed the City to proceed expeditiously with its projects and programs. The City utilized the ARPA money to rebuild the local businesses through business rehabilitation and small business assistance program, rebuilding and improving the City’s infrastructures, such as the water well, community parks, and affordable housing. As of June 30, 2023, the City fully expended the $18.9 million ARPA fund by redirecting the $7.7 million balance to the General Fund for Public Safety Sheriff cost. The savings in General Fund money has allowed to City to continue its focus on community priorities.

ACCOMPLISHMENTS &

OUTLOOK
iv
Capital Improvement Completion
During FY 2022-23, as we do every year, we completed the construction of numerous street improvement projects, including street and sidewalk repairs or installations, drought tolerant median conversions, and continued resurfacing of neighborhood streets.

Deferred maintenance and structural improvements were also completed at several Parks such as the Paramount Park and Progress Park ballfield lighting improvement, and Progress Park picnic shelter renovation. Various City facility improvements were also completed and we completed sustainability projects such as installing EV charging stations and replacing the HVAC at City Yard.

New Developments/Continuing Programs
Looking forward, for FY 2023-24, we have budgeted a total of $37,287,150 for capital improvement projects that included $23.6 million in carryover projects and $13.7 million in new projects to continue street and sidewalk improvements, complete more miles of arterial and neighborhood street resurfacing, traffic circle installation, park improvements, City facility improvements, and sustainability projects such as LED lights conversion at City Yard and Paramount pool heater energy efficient heater.

STAR Program
In FY 2023-24, we will make substantial modifications to the Success Through Academics and Recreation (STAR) Program that began in January 2007. The program is funded by an After School Education and Safety Grant from the State of California in which the City will continue to apply for. In FY 2023-24, operational responsibilities will shift from City staff to a Community Based Organization that is skilled in operating after school programs. STAR provides academic assistance and recreational activities for students in grades kindergarten through eighth.

Water Operations
As mentioned above, the City of Paramount prides itself on providing a high level of service at a reasonable cost. The City’s water operations are no exception. We are constantly initiating efforts to keep our water production facilities and distribution lines in sound condition. We are anticipating the completion of our new well (Well 16) located at Garfield and Jackson in FY 2023-24. We started the design and drilling of this new water well in FY 2015-16 with a $6.7 million loan from California Infrastructure and Economic Development Bank (IBank) to complete the rest of the well construction. This project is especially vital in California where the reliance on imported water is becoming more and more expensive and less and less available.

Once built, the new well will help us come closer to being self-sufficient in this important area.

ACCOMPLISHMENTS &

OUTLOOK
(cont.)
v
Also, in our effort to proactively maintain and improve our water system, the City Council approved a water rate increase that took effect January 1, 2022. The water rate increase will phase in gradually over a five-year period with the third-year increase taking effect January 1, 2024. Even with this increase, our rates will continue to be among the lowest in all 14 neighboring water agencies.

The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Paramount for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2022. The City has received the Certificate of Achievement Award from the GFOA since 1982. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized ACFR. This report must satisfy both generally accepted accounting principles and applicable legal requirements.

A Certificate of Achievement is valid for a period of one year only. We believe that our current ACFR continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to the GFOA to determine its eligibility for another certificate.

The preparation of this report could not have been accomplished without the hard work and dedicated services of the City’s financial management staff. We would like to express our appreciation to all the members of the Finance team and The Pun Group LLP, the City’s new independent auditors, for their expertise, guidance, assistance and professionalism in preparing this year’s report. Finally, we would like to express our sincere thanks to the City Council, whose strong and effective leadership and continuous support has made this another successful year.

CITY OF PARAMOUNT
John Moreno, City Manager Kim Sao, Finance Director

CERTIFICATES
OF

ACHIEVEMENT
ACKNOWLEDGEMENTS
ACCOMPLISHMENTS &

OUTLOOK
(cont.)
vi
Roster of Officials
City Council
Isabel Aguayo, Mayor
Annette C. Delgadillo, Vice Mayor
Peggy Lemons, Councilmember
Brenda Olmos, Councilmember
Vilma Cuellar Stallings, Councilmember
City Attorney
John Cavanaugh
City Manager
John Moreno
Assistant City Manager
Andrew Vialpando
City Clerk
Heidi Luce
Community Services Director
David Johnson
Finance Director
Kim Sao
Planning Director
John Carver
Public Safety Director
Margarita Matson
Public Works Director
Adriana Figueroa
vii
Assistant City
Manager
Organizational Chart
City of Paramount, CA
on June 30, 2023

CITIZENS OF PARAMOUNT
City Manager

Council staff support

Develop policies

Direct city services
City Commissions

Planning Commission

Parks & Rec. Commission

Public Safety Commission

Public Works Commission

Senior Services Commission
City Attorney

Provides legal
assistance

Reviews resolutions,
ordinances, contracts,
and other documents

Court litigation
Administrative
Services

Management
analysis

Economic
development

Legislative
analysis

Special projects

Computer/phone
maintenance

Public information
Human Resources
Services

Recruiting

Testing

Training

Benefit
administration

Risk management
Public Safety
Director
Planning

Planning / zoning

Building/Safety

Development

Housing

Property
improvement
programs
Public Safety

Police contract

Animal control

Parking control

Emergency
preparedness

Crossing guards

Neighborhood
watch

Code enforcement

Homeless
services
Public
Works
Director
Community
Services
Director
Finance
Director
Public Works

Equipment
repair

Facility repair

Park
maintenance

Street repair

Engineering

Water utility

Infrastructure

Environmental
sustainability
Community
Services

Parks and
playgrounds

Aquatics

Youth and adult
sports

Elderly Nutrition
Program

Paramount
Education
Partnership

S.T.A.R. After
School
Program
Finance

Accounting

Payroll

Cash
management

General ledger

Budget
management

Grants
management

Capital projects

Data
processing

Business
licensing

Water billing
City Clerk

Manage central records

Conduct elections
City Council
Planning
Director
viii
Award for Financial Reporting
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Paramount for our Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2022.

To be awarded a Certificate of Achievement for Excellence, a governmental unit must publish an easily readable and efficiently organized Annual Comprehensive Financial Report, whose contents conform to industry standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements.

A Certificate of Achievement for Excellence is valid for a period of one year only. We believe our current June 30, 2023 financial report continues to conform to Certificate of Conformance Program requirements, and we are submitting it to the GFOA to determine its eligibility for another certificate. ix
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200 E. Sandpointe Avenue, Suite 600
Santa Ana, California 92707
INDEPENDENT AUDITORS’ REPORT
To the Honorable Mayor and the Members of the City Council of the City of Paramount
Paramount, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Paramount, California (the “City”) as of and for the year ended June 30, 2023, and the related notes to the basic financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2023, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (“GAAS”), and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (“Government Auditing Standards”). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

To the Honorable Mayor and the Members of the City Council of the City of Paramount
Paramount, California

2 Auditors’ Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinions.

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS and Government Auditing Standards, we:
 exercise professional judgment and maintain professional skepticism throughout the audit.  identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.  obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.  evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.  conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis, the Budgetary Comparison Schedules, the Schedule of the City’s Proportionate Share of the Net Pension Liability and Related Ratios, the Schedule of Contributions – Pensions, Schedule of Changes in Net Other Postemployment Benefits Liability and Related Ratios, and the Schedules of Contributions – Other Postemployment Benefits be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the Required Supplementary Information in accordance with GAAS, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

To the Honorable Mayor and the Members of the City Council of the City of Paramount
Paramount, California

3 Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The accompanying Combining and Individual Fund Financial Statements are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the Combining and Individual Fund Financial Statements are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

Other Information
Management is responsible for the other information included in the annual report. The other information comprises the Introductory and Statistical Sections but does not include the basic financial statements and our auditors’ report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon.

In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 20, 2023, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.

Santa Ana, California
December 20, 2023
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City of Paramount
Management’s Discussion and Analysis (Unaudited)
June 30, 2023
5 As management of the City of Paramount, California (the “City”), we offer readers of the City’s financial statements this narrative overview and analysis of the financial activities of the City for the fiscal year ended June 30, 2023. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal, which can be found on pages i through vi of this report.

Financial Highlights
 The assets and deferred outflows of resources of the City exceeded its liabilities and deferred inflows of resources at the close of FY 2022-23 by $126,105,497 (net position). This amount increased by $17,640,324 from last year.
 As of June 30, 2023, the City’s governmental funds reported combined fund balances of $61,690,096. Of this amount, $459,340 (1%) of the total fund balances is non-spendable, $12,695,247 (20%) is restricted, $25,532,925 (41%) is committed, $21,365,038 (35%) is assigned, and $1,637,546 (3%) is unassigned and available for spending at the City’s discretion.

Overview of the Financial Statements
This discussion and analysis are intended to serve as an introduction to the City’s basic financial statements, which comprised three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to basic financial statements. This report also contains the Required Supplementary Information (RSI) and other supplementary information in addition to the basic financial statements themselves.

Government-wide financial statements. The government-wide financial statements are designed to provide readers with a broad overview of the City’s finances, in a manner similar to a private-sector business.

The statement of net position presents information on all of the City’s assets, deferred outflows of resources, liabilities and deferred inflows of resources, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating.

The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g. uncollected taxes and earned but unused vacation leave).

Both of the government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the City include General Government, Community Development, Public Safety, Community Services, and Public Works. The business-type activity of the City includes the City’s Water Utility operations.

The government-wide financial statements include not only the City itself (known as the primary government), but also the legally separate Paramount Housing Authority and Paramount Parking Authority for which the City is financially accountable. Financial information for these component units has been included as an integral part of the primary government.

The government-wide financial statements can be found on pages 19-21 of this report.

City of Paramount
Management’s Discussion and Analysis (Unaudited) (Continued) June 30, 2023
6 Fund financial statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds.

Governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental fund balance sheet and governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The City maintains 27 individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the General fund, ARPA fund, and Other Grants fund, which are major funds. Debt Service is presented separately to account for the Pension Obligation Bond fund. Data from the other 23 governmental funds are combined into a single, aggregate presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining and individual fund financial statements and schedules.

The City adopts an annual appropriated budget for each of its governmental funds, except the Paramount Parking Authority fund. A budgetary comparison statement has been provided for the general fund and each major special revenue fund to demonstrate compliance with the budget.

The governmental fund financial statements can be found on pages 27-30 of this report.

Proprietary funds. The City maintains two different types of proprietary funds, enterprise and internal service funds.

Enterprise funds are used to report the same functions presented as business type activities in the government-wide financial statements. The City uses an enterprise fund to account for its water utility. Internal service funds are an accounting device used to accumulate and allocate costs internally among the City’s various functions. The City uses an internal service fund to account for its equipment replacement and maintenance. Because this service predominantly benefits governmental rather than business type functions, it has been included within governmental activities in the government-wide financial statements.

Proprietary funds provide the same type of information as the government-wide financial statements (business type activities), only in more detail. Information is presented separately in the proprietary fund statement of net positio6n and in the proprietary fund statement of revenues, expenses, and changes in fund net position for the Water fund, which is considered to be a major fund. The Equipment Replacement internal service fund is also presented in the proprietary fund financial statements.

The proprietary fund financial statements can be found on pages 33-35 of this report.

City of Paramount
Management’s Discussion and Analysis (Unaudited) (Continued) June 30, 2023
7 Fiduciary fund. The City maintains three fiduciary funds, which are the Redevelopment Obligation Retirement Private-Purpose Trust Fund and the Community Redevelopment Property Trust Fund, which are combined and reported as the Successor Agency for the Paramount Redevelopment Agency, and the Custodial Fund. These funds are used to account for situations where the City’s role is purely custodial. They are not reflected in the government-wide financial statements because the resources of these funds are not available to support the City’s own programs.

The fiduciary fund financial statements can be found on pages 39-40.

Notes to basic financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the basic financial statements can be found on pages 49-84 of this report.

Required Supplementary Information. This section includes the Budgetary Comparison Schedules of the major governmental funds. It also includes the Schedule of the City’s Net Pension Liability and Schedule of Contributions for the City’s pension program – Miscellaneous Plan of the California Public Employees Retirement System, Schedule of Changes in Net Other Postemployment Liability and Related Ratios, and Schedule of Contributions for Other Postemployment Benefits. This section can be found on pages 86-97.

Supplementary information. The combining financial statements referred to earlier in connection with non-major governmental funds are presented immediately following the required supplementary information. Individual fund financial schedules for non-major governmental funds are located in this section as well. Combining and individual fund statements and schedules can be found on pages 105-136 of this report.

Government-wide Financial Analysis
The following table presents a summarization of the City’s assets, deferred outflows of resources, liabilities, deferred inflows of resources and net position for its governmental and business type activities. As noted earlier, a government’s net position may serve over time as a useful indicator of its financial position.

Governmental Business-Type
Activities Activities Total
2023 2022 * 2023 2022 * 2023 2022
Current and other assets $ 70,954,966 $ 65,921,483 $ 7,566,736 $ 6,692,690 $ 78,521,702 $ 72,614,173 Capital assets, net 76,210,309 73,212,124 27,304,795 26,585,626 103,515,104 99,797,750 Total assets 147,165,275 139,133,607 34,871,531 33,278,316 182,036,806 172,411,923 Deferred outflows of resources 14,365,419 18,148,346 2,117,355 2,752,837 16,482,774 20,901,183 Current liabilities 5, 19,510,280 784,288 1,495,343 1,497,453 7,279,631 21,007,733 Long-term liabilities 31, 32,104,827 238,273 14,472,215 15,003,520 45,710,488 47,108,347 Total liabilities 37, 51,615,107 022,561 15,967,558 16,500,973 52,990,119 68,116,080 Deferred inflows of resources 16,929,065 14,538,793 2,494,899 2,193,060 19,423,964 16,731,853 Net position
Net investment in capital assets 75,764,653 73,014,467 16,976,379 16,310,930 92,741,032 89,325,397 Restricted 12,716,782 10,798,402 - - 12,716,782 10,798,402 Unrestricted 19,097,633 7,315,184 1,550,050 1,026,190 20,647,683 8,341,374 Total net position $ 107,579,068 $ 91,128,053 $ 18,526,429 $ 17,337,120 $ 126,105,497 $ 108,465,173 * Restated to reflect the allocation of 2021 POB from governmental activities to business-type activities.

City of Paramount
Management’s Discussion and Analysis (Unaudited) (Continued) June 30, 2023
8 The City’s total assets increased from $172,411,923 to $182,036,806 in the fiscal year and the City’s total liabilities decreased from $68,116,080 to $52,990,119. Pension and Other Post-Employment Benefits (OPEB) related deferred outflows of resources decreased from $20,901,183 to $16,482,774 and deferred inflows of resources increased from $16,731,853 to $19,423,964. For further information, please refer to Notes 7 and 8 on pages 70-78. As a whole, the City’s assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $126,105,497 at June 30, 2023, an increase of $17,640,324 from the prior year, primarily due to increase in assets as a result of high general fund surplus and decrease in liabilities.

Governmental activities. For the year ended June 30, 2023, the following condensed summary of the City’s governmental activities shows total net position equal to $107,579,068, which is $16,451,015 more than the prior year.

The increase is primarily the result of an increase in overall revenue and allocation of the 2021 Pension Obligation Bond to business-type activities.

Business-type activities. Business-type activities’ net position increased by $1,189,309 from $17,337,120 to $18,526,429, mostly due to the use of American Rescue Plan Act revenue to offset the rising operating expenses. Total revenues increased by $4,197,605 mainly due to allocation of American Rescue Plan Act of 2021 fund to the Water Enterprise.

Governmental Business-Type
Activities Activities Total
2023 2022 2023 2022 2023 2022
Program revenues
Charges for services 4,509,711 $ 2,046,973 $ 8,355,545 $ 8,414,322 $ 12,865,256 $ 10,461,295 $ Operating contributions and grants 17,729,029 10,313,132 3,438,975 - 21,168,004 10,313,132 Capital contributions and grants 6,256,776 9,576,540 757,063 - 7,013,839 9,576,540 General revenues
Sales tax 12,261,365 11,483,195 - - 12,261,365 11,483,195 Transaction & use tax 8,113,036 7,238,769 - - 8,113,036 7,238,769 Utility user's tax 4,492,823 4,183,383 - - 4,492,823 4,183,383 Franchise tax 2,196,469 2,049,479 2,196,469 2,049,479
Property tax 3,059,499 2,847,420 - - 3,059,499 2,847,420 Business license tax 962,760 988,969 - - 962,760 988,969 Investment earnings 793,392 57,848 65,243 1,349 858,635 59,197 Unrestricted motor vehicle license fee 8,088,374 7,573,107 - - 8,088,374 7,573,107 Other revenue 2,475,170 1,197,449 - 3,550 2,475,170 1,200,999 Total revenues 70,938,404 59,556,264 12,616,826 8,419,221 83,555,230 67,975,485 Program expenses
General government 10,059,418 8,888,563 - - 10,059,418 8,888,563 Community development 4,817,632 3,166,168 - - 4,817,632 3,166,168 Public safety 15,311,548 13,637,500 - - 15,311,548 13,637,500 Community services &recreation 7,774,667 6,592,797 - - 7,774,667 6,592,797 Public works 16,159,020 13,309,135 - - 16,159,020 13,309,135 Interest and fiscal charges 365,104 389,603 - - 365,104 389,603 Water - - 11,427,517 8,895,635 11,427,517 8,895,635
Total expenses 54,487,389 45,983,766 11,427,517 8,895,635 65,914,906 54,879,401 Excess (deficiency) before contributions, 16,451,015 13,572,498 1,189,309 (476,414) 17,640,324 13,096,084 special and extraordinary items & transfers
Transfers in / (out) - (4,659,116) - 4,659,116 - -
Special item-housing assets - - - - - -
Special item-Redevelopment Agency - - - - - -
Change in net position 16,451,015 8,913,382 1,189,309 4,182,702 17,640,324 13,096,084 Net position, beginning of year (as restated)* 91,128,053 80,001,403 17,337,120 15,367,686 108,465,173 95,369,089 Net position, end of year 107,579,068 $ 88,914,785 $ 18,526,429 $ 19,550,388 $ 126,105,497 $ 108,465,173 $ *FY 2023 beginning balance includes POB 2021 allocation to business-type activities.

City of Paramount
Management’s Discussion and Analysis (Unaudited) (Continued) June 30, 2023
9 Revenues
 At June 30, 2023, total revenue is $83,555,230, an increase of 22.9% or $15,579,745 from prior fiscal year.

Charges for services increased by $2,403,961 mainly due to an overall increase in Permit activities such as plan check fees from the World Energy projects. The increase in capital contributions and grants by approximately $10,854,872 is primarily due to the recognition of $9.7 million ARPA grant revenues.  Sales tax and transaction & use tax revenues increased by 6.8% or $778,170 and 12.1% or 874,267, respectively, in FY 2022-23. This is mainly due to the increase in the cost of commodities and increase in consumer purchases.
 Utility user’s tax increased by 7.4% or $309,440 as a result of higher utility costs.  Franchise tax fees increased by 7.2% or $146,990 mainly due to higher Edison franchise fees  Property tax increased by 7.4% or $212,079 due to higher property valuations.  Investment earnings increased by 1,271.5% or $735,544 due to proactive investing of idle cash and higher yields.
 Motor vehicle license fee increased by 6.8% or $515,267 due to higher allocation for the City.  Other revenue increased by 106.7% or $1,277,721 mainly due to a one-time receipt of the Monsanto PCB class action settlement in the amount of $807,228.

Sales tax, 17%
Transaction & use
tax, 12%
Investment
earnings, 1%
Charges for Services,
6%
Property tax, 4%
Franchise tax, 3%
Business license tax, 1% Other revenue, 4%
Operating
contributions and
grants, 25%
Motor vehicle
license fees, 11%
Capital contributions
and grants, 9%
Utility User's Tax, 6%
Revenues by Source - Governmental Activities
Year Ended June 30, 2023
City of Paramount
Management’s Discussion and Analysis (Unaudited) (Continued) June 30, 2023
10 Key elements of this year’s summary of activities are as follows:
 The major revenue sources were sales tax, transaction & use tax, motor vehicle license fees, and various operating contributions and grants.
 In the operating contributions and grants category, the City received some significant grant sources including:
o $9,794,053 American Rescue Plan Act of 2021 (ARPA)
o $2,793,580 After School Education and Safety Grant for the Success Through Academics and Recreation (S.T.A.R.) Program
o $1,351,764 State Gas Tax
o $1,482,777 Proposition A Transit Tax
o $1,211,864 SB1 Road Maintenance & Rehabilitation Account o $1,255,545 Proposition C Transit Tax
o $1,042,287 Measure M Transit Tax
o $930,153 Measure R Transit Tax
o $606,309 Public Art Fee
o $663,985 Community Development Block Grant
o $681,101 Measure W Safe Clean Water
o $232,082 Community Development Block Grant – Coronavirus (CDBG-CV) Expenses
Total program expenses increased by $8.5 million for the year, from $45,983,766 to $54,487,389 at June 30, 2023. The increase is attributed to many factors including an overall increase in salaries and benefits, high cost of goods and services from the rising inflation impacting the nation, and increased city activities after COVID-19 restrictions were lifted, and one-time costs. For example, increases in public safety of 12.3% or $1,674,048 resulted from increases in salaries and benefits, efforts to address homelessness, and increased contractual cost for crossing guard services. For Community Services, the lifting of the pandemic restrictions resulted in more event services. Increases in public works are due to increases in professional services.

The top three expense activities were Public Works, 29%, which included the Water Enterprise Fund, Public Safety, 28%, and General Government at 19%.

General
Government,
19%
Community
Development
, 9%
Public Safety,
28%
Community
Services, 14%
Public Works,
29%
Interest and Fiscal …
Expenses by Function
Year Ended June 30, 2023
City of Paramount
Management’s Discussion and Analysis (Unaudited) (Continued) June 30, 2023
11 Financial Analysis of the City’s Funds
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Governmental funds. The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City’s financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year.

As of June 30, 2023, the City’s governmental funds reported combined ending fund balances of $61,690,096, an increase of $18,573,957 in comparison with the prior year. The increase was primarily related to the surplus in the general fund and accumulation of various grant funds that will be expended in future years. The fund balances are classified as follows to indicate the level of constraint.  $459,340 or 1% consists of non-spendable fund balances, which include land held for resale ($236,544) and prepaids/deposits ($222,796);
 $12,695,247 or 20% consists of the restricted fund balances of various grants and assessments ($12,152,421), Debt Service ($7,826) and the Paramount Housing Authority ($535,000);  $25,532,925 or 41% consists of General Fund committed fund balances for operation ($16,965,025), economic uncertainty ($3,393,005), and infrastructure ($3,393,005), and $1,781,890 from various development impact fees;
 $21,365,038 or 35% consists of the General Fund assigned fund balances for compensated absences ($821,000), Coronavirus related ($8,101,318), capital projects ($8,600,600), self-insurance ($800,000), special projects ($527,620), and retiree benefit obligation ($2,514,500);  $1,637,546 or 3% of the ending balance is the unassigned fund balance, which is available for spending at the government’s discretion.

The General Fund is the chief operating fund of the City of Paramount. At June 30, 2023, the General Fund balance reached $47,199,250. In May 2023, the City Council adopted the Fund Balance Policy to provide guidance regarding its fund balances. The City committed $23.8 million of its General Fund balance for operating reserve, economic uncertainty, and infrastructure and facililities emergencies, representing 70% of the FY 2022-23 General Fund adopted operating budget. Additional Details of the fund balance categories can be found in Note 12 of the Notes to Basic Financial Statements.

Proprietary funds. The City’s proprietary fund provides the same type of information found in the government- wide financial statements, but in more detail.

Unrestricted net position of the City’s Water Utility operations at the end of the year amounted to $1,550,050, a decrease of $1,689,408 from the prior year. The operating expenses reflect an overall increase due to the high cost of imported water.

City of Paramount
Management’s Discussion and Analysis (Unaudited) (Continued) June 30, 2023
12 General Fund Budgetary Highlights
Following is a summary of budgetary changes and actual results for General Fund, revenues, expenditures, and other financing sources (uses):

Variance with the Final Budget
Overall, total actual revenues came in $4,440,107 higher than the final estimate mainly due to higher tax revenues of $2,129,952 and Other Revenues, which came in $2,319,127 higher than estimated. These include licenses and permits $662,089, fines and citations $246,541, charges for various services $203,178, and other revenues $1,165,942. On the other hand, actual expenditures were $4,845,537 lower than the final budget mainly due to delays in capital improvement project and professional services.

Capital Asset and Debt Administration
Capital assets. As of June 30, 2023, the City’s investment in capital assets for its governmental and business- type activities totaled $103,515,104, net of accumulated depreciation. This investment includes land, buildings and improvements, machinery and equipment, park facilities, construction in progress, water mains, water distribution equipment, and infrastructure.

Significant capital improvements events during the year included the construction of various street and sidewalk improvements and various parks and facilities improvements.

Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
Revenues
Taxes $ 26,413,000 $ 28,956,000 $ 31,085,952 $ 2,129,952 Intergovernmental revenues 7,699,700 8,133,250 8,124,278 (8,972) Other revenues 3,708,650 5,109,250 7,428,377 2,319,127
Total revenues 37,821,350 42,198,500 46,638,607 4,440,107 Expenditures
Operations 33,882,900 26,905,280 25,366,056 1,539,224
Capital outlay 3,215,200 5,621,900 2,489,530 3,132,370
Debt service 324,350 1,803,920 1,629,977 173,943
Total expenditures 37,422,450 34,331,100 29,485,563 4,845,537 Excess (deficiency) of revenues
over (under) expenditures 398,900 7,867,400 17,153,044 9,285,644 Other Financing Sources (Uses)
Issuance of debt - - 232,717 232,717
Total other financing sources (uses) - - 232,717 232,717 Net change in fund balances 398,900 7,867,400 17,385,761 9,518,361 Fund balance - July 1 22,676,900 24,348,650 29,813,489 5,464,839 Fund balance - June 30 $ 23,075,800 $ 32,216,050 $ 47,199,250 $ 14,983,200 City of Paramount
Management’s Discussion and Analysis (Unaudited) (Continued) June 30, 2023
13 Additional information on the City’s capital assets can be found in Note 5 of the Notes to Basic Financial Statements.

Long-term liabilities. As of June 30, 2023, the City of Paramount had total outstanding liabilities of $45,710,488. Of this amount, $14,472,215 is a liability of the business-type activity.

State statutes limit the amount of general obligation debt a governmental entity may issue to 15 percent of its total assessed valuation. The current debt limitation for the City is $190,363,691, based on the assessed value of all real and personal property of the City, all of which is excess because the City has no outstanding general obligation debt.

Additional information on the City’s long-term debt can be found in Note 6 of the Notes to Basic Financial Statements.

Economic Factors and Next Year’s Budget
Over the past few years, despite unprecedented challenges of the COVID-19 pandemic, the City has continued to effectively service and support our residents and businesses. With the rebound of the economy and expected increase in revenue, the City has been able to provide a cost-of-living increase for our employees effective July 2023. However, the economy is highly uncertain with inflation at an all-time high rate of over 8% in June 2022.

Like many California cities, increases in retiree pension and health care costs will continue to put an upward pressure on the Budget. In November 2021, the City took advantage of the favorable market rate by issuing the Pension Obligation Bond (POB) to refinance a large portion of the unfunded actuarial liability (UAL) to CalPERS. While the UAL pension liability fluctuated in accordance with CalPERS’ investment returns, the POB bond is a debt with a fixed borrowing rate for the term of the bond that will mature in 2038.

Governmental Business-Type
Activities Activities Total
Notes payable from direct
borrowing and direct placements $ - $ - $ 9,909,040 $ 10,236,115 $ 9,909,040 $ 10,236,115 Financed purchases 44,255 105,601 19,926 38,581 64,181 144,182 Pension Obligation Bonds* 13,936,444 15,130,125 2,058,556 2,234,875 15,995,000 17,365,000 Bond discount* (163,264) (174,148) (24,116) (25,724) (187,380) (199,872) Lease liability 325,219 92,056 31,198 - 356,417 92,056
Net OPEB liability 6, 5,427,338 185,227 903,947 801,451 7,089,174 6,228,789 Net pension liability 10,089,071 10,827,822 1,489,049 1,645,837 11,578,120 12,473,659 Compensated absences 821,321 696,033 84,615 72,386 905,936 768,419 Total $ 31,238,273 $ 32,104,827 $ 14,472,215 $ 15,003,520 $ 45,710,488 $ 47,108,347 * 2022 restated to reflect allocation of 2021 POB from governmental activities to business-type activities.

City of Paramount - Outstanding Liabilities
June 30, 2023 and 2022
2023 2022 2023 2022 2023 2022
City of Paramount
Management’s Discussion and Analysis (Unaudited) (Continued) June 30, 2023
14 The City continues to be vigilant in its spending habit and is exploring multiple ways to minimize costs and increase revenues by effectively managing its way of doing business, enhancing collection efforts, and preventing revenue leakage. The City also utilizes grant fundings to pay for projects and one-time-costs and was fortunate to be awarded the $18.9 million American Rescue Plan Act (ARPA) fund, which provided needed support to our residents, protect essential reserves, rebuild critical services, and plan for facility and infrastructure improvements.

In addition, the City has revised its investment policy and begun to invest more actively than in the past. Where the City normally invested all its idle cash in the Local Agency Investment Fund (LAIF), the City has moved its idle cash to the California Asset Management Program (CAMP), a fully liquid investment pool, to take advantage of its more favorable yield. The City is now diversifying its investment portfolio, taking advantage of short-term earnings, as well as laddering its maturity dates up to five years to ensure that the City will continue to earn a healthy return during an economic downturn.

In May 2023, the City Council also adopted a Fund Balance Policy that will improve operational stability and ensure that the City is better prepared for the financial risk of economic downturn and catastrophic emergencies.

For FY 2023-24, the City adopted a balanced budget. General Fund sources total $58,618,894, which include $44,109,550 in estimated revenues and $14,509,344 from Reserves to pay for one-time expenditures. The adopted expenditure budget totals $57,353,550, which includes $41,873,700 for operation and $15,479,850 for CIPs, leaving an estimated surplus of $1,265,344 for the fiscal year ending June 30, 2024.

Request for Information
This financial report is designed to provide a general overview of the financial position of the City of Paramount for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Finance Department, 16400 Colorado Avenue, Paramount, California 90723.

BASIC FINANCIAL STATEMENTS
15 This page intentionally left blank.
16 GOVERNMENT-WIDE FINANCIAL STATEMENTS
17 This page intentionally left blank.
18 Governmental Business-type
Activities Activities Total
ASSETS
Cash and investments 61,121,692 $ 6,693,224 $ 67,814,916 $ Cash and investments with fiscal agent 7,293 - 7,293
Accounts receivable 7,402,627 548,438 7,951,065
Interest receivable 419,666 15,822 435,488
Prepaid items and deposits 222,796 8,568 231,364
Inventories 300,684 - 300,684
Notes receivable, net 596,850 - 596,850
Land held for resale 1,184,042 - 1,184,042
Capital assets
Nondepreciable assets 24,054,814 13,842,586 37,897,400
Depreciable assets, net of accumulated depreciation 51,766,275 13,424,792 65,191,067 Intangible capital assets, net of accumulated amortizaztion 389,220 37,417 426,637 Total capital assets 76,210,309 27,304,795 103,515,104
Total assets 147,165,275 34,871,531 182,036,806

DEFERRED OUTFLOWS OF RESOURCES
Pension related 12,397,273 1,829,718 14,226,991
Other postemployments benefits related 1,968,146 287,637 2,255,783 Total deferred outflows of resources 14,365,419 2,117,355 16,482,774

LIABILITIES
Accounts payable 5,390,776 715,422 6,106,198
Due to other government 243,254 - 243,254
Retention payable 76,182 368,252 444,434
Accrued interest payable 21,744 133,386 155,130
Deposits payable 52,332 278,283 330,615
Long-term liabilities:

Due within one year 1,596,254 559,263 2,155,517
Due in more than one year 13,367,721 11,519,956 24,887,677 Net pension liabilities 10,089,071 1,489,049 11,578,120 Net other postemployment benefits liabilities 6,185,227 903,947 7,089,174 Total liabilities 37,022,561 15,967,558 52,990,119

DEFERRED INFLOWS OF RESOURCES
Pension related 14,389,792 2,123,794 16,513,586
Other postemployments benefits related 2,539,273 371,105 2,910,378 Total deferred inflows of resources 16,929,065 2,494,899 19,423,964

NET POSITION
Net investment in capital assets 75,764,653 16,976,379 92,741,032 Restricted for:

Community development 1,418,748 1,418,748 -
Public safety 443,478 - 443,478
Community services and recreation 1,106,913 1,106,913 - Public works 9,528,147 9,528,147 -
Debt service 7,826 - 7,826
Other 211,670 - 211,670
Total restricted 12,716,782 12,716,782 -
Unrestricted 19,097,633 1,550,050 20,647,683
Total net position $ 18,526,429 107,579,068 $ 126,105,497 $ City of Paramount
Statement of Net Position
June 30, 2023
See accompanying Notes to the Basic Financial Statements. 19 Charges Operating Capital
for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions Total Governmental Activities:

General government 10,059,418 $ 183,320 $ 35,903 $ - $ 219,223 $ Community development 4,817,632 3,687,530 1,064,708 - 4,752,238 Public safety 15,311,548 137,960 10,140,148 - 10,278,108 Community services 7,774,667 240,657 4,388,580 606,309 5,235,546 Public works 16,159,020 260,244 2,099,690 5,650,467 8,010,401 Interest and fiscal charges 365,104 - - - -
Total governmental activities 54,487,389 4,509,711 17,729,029 6,256,776 28,495,516 Business-type Activities:

Water utility 11,427,517 8,355,545 3,438,975 757,063 12,551,583 Total business-type activities 11,427,517 8,355,545 3,438,975 757,063 12,551,583 Total primary government $ 12,865,256 65,914,906 $ 21,168,004 $ 7,013,839 $ 41,047,099 $ (Continued)
Program Revenues
City of Paramount
Statement of Activities
For the Year Ended June 30, 2023
See accompanying Notes to the Basic Financial Statements. 20 Governmental Business-type
Functions/Programs Activities Activities Total
Governmental Activities:

General government (9,840,195) $ - $ (9,840,195) $
Community development (65,394) - (65,394)
Public safety (5,033,440) - (5,033,440)
Community services (2,539,121) - (2,539,121)
Public works (8,148,619) - (8,148,619)
Interest and fiscal charges (365,104) - (365,104)
Total governmental activities (25,991,873) - (25,991,873) Business-type Activities:

Water utility 1,124,066 - 1,124,066
Total business-type activities - 1,124,066 1,124,066
Total primary government (25,991,873) 1,124,066 (24,867,807) General Revenues:

Sales tax 12,261,365 12,261,365 -
Transaction and use tax 8,113,036 8,113,036 -
Utility users tax 4,492,823 4,492,823 -
Franchise tax 2,196,469 2,196,469 -
Property tax 3,059,499 3,059,499 -
Business license tax 962,760 - 962,760
Investment earnings 793,392 65,243 858,635
Unrestricted motor vehicle license fee 8,088,374 8,088,374 - Other revenue 2,475,170 2,475,170 -
Total general revenues and transfers 42,442,888 65,243 42,508,131 Change in Net Position 16,451,015 1,189,309 17,640,324
Net Position
Beginning of year, as restated (Note 14) 91,128,053 17,337,120 108,465,173 End of year $ 18,526,429 107,579,068 $ 126,105,497 $
(Concluded)
Net (Expense) Revenue and Changes in Net Position
City of Paramount
Statement of Activities (Continued)
For the Year Ended June 30, 2023
See accompanying Notes to the Basic Financial Statements. 21 This page intentionally left blank.
22 FUND FINANCIAL STATEMENTS
23 This page intentionally left blank.
24 GOVERNMENTAL FUND FINANCIAL STATEMENTS
25 This page intentionally left blank.
26 American Rescue Other Total
Other Plan Act Governmental Governmental
General Grants Fund Funds Funds
ASSETS
Cash and investments $ 43,045,917 $ 761,022 - $ $ 13,804,850 $ 57,611,789 Cash and investments with fiscal agent 7,293 - - - 7,293 Accounts receivable 5,021,800 1,644,097 736,730 - 7,402,627 Interest receivable 313,119 2,671 84,828 - 400,618
Due from other funds 1,278,571 - - 1,278,571 -
Prepaid items 201,261 - 21,535 - 222,796
Notes receivable, net - - 596,850 - 596,850
Land held for resale 236,544 - 947,498 - 1,184,042
Total assets $ 50,104,505 $ 1,646,768 $ 761,022 $ 16,192,291 $ 68,704,586

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable $ 2,606,127 $ 212,109 $ 761,022 $ 1,784,893 $ 5,364,151 Deposits payable 52,332 - - 52,332 -
Retentions payable 3,542 - 72,640 - 76,182
Due to other governmental agencies 243,254 - - 243,254 - Due to other funds 991,181 - 287,390 - 1,278,571
Total liabilities 2,905,255 1,203,290 761,022 2,144,923 7,014,490 Fund Balances:

Nonspendable 437,805 - - 21,535 459,340
Restricted 7,826 443,478 12,243,943 - 12,695,247
Committed 23,751,035 - 1,781,890 - 25,532,925
Assigned 21,365,038 - - 21,365,038 -
Unassigned 1,637,546 - - 1,637,546 -
Total fund balances 47,199,250 443,478 14,047,368 - 61,690,096 Total liabilities and fund balances $ 50,104,505 $ 1,646,768 $ 761,022 $ 16,192,291 $ 68,704,586 Special Revenue Funds
City of Paramount
Balance Sheet
Governmental Funds
June 30, 2023
See accompanying Notes to the Basic Financial Statements. 27 Fund Balances of Governmental Funds $ 61,690,096
Amounts reported for Governmental Activities in the Statement of Net Position are different because:

Capital assets of governmental activities are not current financial resources and, therfore, are not reported in the governmental funds, net of $1,192,893 reported in Internal Service Fund. 75,017,416 Long-term liabilities are not due and payable in the current period and accordingly are not reported as fund liabilities. All liabilities, both current and long-term, are reported in the Statement of Net Position:

Long-term liabilities (14,142,654)
Compensated absences (821,321)
Interest payable on long-term debt does not require current financial resources. Therefore, interest payable is not reported as a liability in the governmental funds. (21,744)
Net pension liabilities and the related deferred outflows of resources and deferred inflows of resources are not due and payable in the current period or not available for current expenditures and are not reported in the governmental fund financial statements:

Deferred outflows related to pensions 12,397,273
Net pension liability (10,089,071)
Deferred inflows related to pensions (14,389,792)
Net other postemployment benefits liabilities and the related deferred outflows of resources and deferred inflows of resources are not due and payable in the current period or not available for current expenditures and are not reported in the governmental fund financial statements:

Deferred outflows related to OPEB 1,968,146
Net OPEB liability (6,185,227)
Deferred inflows related to OPEB (2,539,273)
Internal service funds are used by management to charge the costs of certain activities to individual funds. The assets and liabilities of the internal service funds are included in the Statement of Net Position. 4,695,219 Net Position of Governmental Activities $ 107,579,068
City of Paramount
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2023
See accompanying Notes to the Financial Statements.
28 American Rescue Other Total
Other Plan Act Governmental Governmental
General Grants Fund Funds Funds
REVENUES:

Taxes $ 31,085,952 $ - $ - $ 31,085,952 - $
Licenses and permits 1,734,089 - - 1,734,089 -
Fines and penalties 1,240,041 - - 1,240,041 -
Interest and use of property 734,628 8,184 205,287 - 948,099 Intergovernmental revenues 8,124,278 1,560,755 9,794,053 11,762,992 31,242,078 Charges for services 1,244,677 - 870,688 - 2,115,365
Other revenues 2,474,942 - 39,074 - 2,514,016
Total revenues 46,638,607 1,568,939 9,794,053 12,878,041 70,879,640 EXPENDITURES:

Current:

General government 7,433,067 66,241 - 328,718 7,828,026 Community development 2,815,116 35,689 736,667 438,629 4,026,101 Public safety 4,884,234 300,003 8,312,896 608,977 14,106,110 Community services 2,889,342 - 3,117,355 - 6,006,697
Public works 7,344,297 162,256 90,229 2,093,256 9,690,038 Capital outlay:

Streets, sidewalks and signals 1,266,339 822,398 4,388,370 - 6,477,107 Parks 630,875 255,407 588,020 1,474,302 -
Other 592,316 - 754,763 - 1,347,079
Debt service:

Principal 1,306,644 - 42,099 - 1,348,743
Interest and fiscal charges 323,333 - - 5,026 328,359
Total expenditures 29,485,563 1,575,753 9,794,053 11,777,193 52,632,562 Excess (deficiency) of revenues over
(under) expenditures 17,153,044 (6,814) 1,100,848 - 18,247,078 OTHER FINANCING SOURCES:

Issuance of debt 232,717 - 94,162 - 326,879
Total other financing sources 232,717 - 94,162 - 326,879 Net change in fund balance 17,385,761 (6,814) 1,195,010 - 18,573,957 FUND BALANCES:

Beginning of year 29,813,489 450,292 12,852,358 - 43,116,139 End of year $ 443,478 47,199,250 $ - $ 14,047,368 $ 61,690,096 $ Special Revenue Funds
City of Paramount
Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds
For the Year Ended June 30, 2023
See accompanying Notes to the Basic Financial Statements. 29 Net Change in Fund Balances - Governmental Funds $ 18,573,957 Amounts reported for Governmental Activities in the Statement of Activities are different because:

Governmental funds report capital outlay as an expenditure in the full amount as current financial resources are used.

However, in the Statement of Activities the cost of these assets is allocated over the estimated useful life as depreciation expense.

Capital outlay, net of $18,627 reported in Internal Service Fund 9,298,488 Depreciation expense, net of $(41,135) reported in Internal Service Fund (6,267,146) Net effect of disposal of capital assets (10,649)
The issuance of long-term debt (e.g., bonds, leases) provides current financial resources of governmental funds but has no effect on net position. Also, governmental funds report the effect of issuance costs, premiums, discounts and similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities. This amount is the net effect of these differences in the treatment of long-term debt and related items.

Issuance of long-term debt (326,879)
Repayment of long-term debt 1,348,743
Amortized bond discount (10,884)
Interest expense (25,861)
In the Statement of Activities, compensated absences are measured by the amounts earned during the fiscal year. In governmental funds, however, expenditures for these items are measured by the amount of financial resources used (essentially the amounts paid). This represents the change in compensated absences during the year. (125,288) Certain pension expenses reported in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds, net of contribution made after the measurement period. (7,431,082) Certain other postemployment benefits expenses reported inthe Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds, net of contribution made during the measurement period. 1,238,745
Internal service funds are used by management to charge the costs of certain activities to individual funds. The net revenue/(expense) of the internal service fund is reported as governmental activities. 188,871 Change in Net Position of Governmental Activities $ 16,451,015 City of Paramount
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Governmental-Wide Statement of Activities For the Year Ended June 30, 2023
See accompanying Notes to the Basic Financial Statements. 30 PROPRIETARY FUND FINANCIAL STATEMENTS
31 This page intentionally left blank.
32 Business-type Governmental
Activities ActivitiesWater Internal Service
Enterprise Fund Fund
ASSETS
Current Assets:

Cash and cash equivalents $ 3,509,903 6,693,224 $
Accounts receivable - 548,438
Interest receivable 19,048 15,822
Prepaid items - 8,568
Inventories - 300,684
Total current assets 3,528,951 7,566,736
Noncurrent Assets:

Capital assets:

Nondepreciable asset 13,842,586 18,627
Depreciable assets, net of accumulated depreciation 13,424,792 1,174,266 Intangible capital assets, net of accumulated amortization 37,417 - Total capital assets 27,304,795 1,192,893
Total noncurrent assets 27,304,795 1,192,893
Total assets 34,871,531 4,721,844

DEFERRED OUTFLOWS OF RESOURCES
Pension related 1,829,718 -
Other postemployment benefits related 287,637 -
Total deferred outflows of resources 2,117,355 -

LIABILITIES
Current Liabilities:

Accounts payable 715,422 26,625
Retentions payable 368,252 -
Interest payable 133,386 -
Deposits payable 278,283 -
Compensated absences, due within one year 14,839 -
Bonds and notes payable, due within one year 537,234 -
Lease payable, due within one year 7,190 -
Total current liabilities 2,054,606 26,625
Noncurrent Liabilities:

Compensated absences, due in more than one year 69,776 - Bonds and notes payable, due in more than one year 11,426,172 - Lease payable, due in more than one year 24,008 -
Net pension liability 1,489,049 -
Net other postemployment benefits liability 903,947 -
Total noncurrent liabilities 13,912,952 -
Total liabilities 15,967,558 26,625

DEFERRED INFLOWS OF RESOURCES
Pension related 2,123,794 -
Other postemployment benefits related 371,105 -
Total deferred inflows of resources 2,494,899 -

NET POSITION
Net investment in capital assets 16,976,379 1,192,893
Unrestricted 1,550,050 3,502,326
Total Net Position $ 18,526,429 $ 4,695,219
City of Paramount
Statement of Net Position
Proprietary Funds
June 30, 2023
See accompanying Notes to the Basic Financial Statements. 33 Business-type Governmental
Activities ActivitiesWater Internal Service
Enterprise Fund Fund

OPERATING REVENUES
Charges for services $ 500,000 8,312,234 $
Operating grant - 3,438,975
Other revenue - 43,311
Total operating revenue 11,794,520 500,000

OPERATING EXPENSES
Water commission 2,968 -
Water system administration 1,680,520 -
Water production 5,998,526 -
Water distribution 1,473,155 -
Water customer service 370,580 -
Water billing 588,184 -
Other operating expenses 166,185 328,758
Depreciation 787,546 41,135
Total operating expenses 11,067,664 369,893
Operating income 726,856 130,107

NONOPERATING REVENUES (EXPENSES)
Interest revenue 65,243 58,764
Interest expense (359,853) -
Total nonoperating revenues (expenses) (294,610) 58,764 Income before contributions 432,246 188,871

CONTRIBUTIONS
Intergovernmental revenue 757,063 -
Total contributions 757,063 -
Change in net position 1,189,309 188,871

NET POSITION
Beginning of year, as restated (Note 14) 17,337,120 4,506,348 End of year $ 18,526,429 $ 4,695,219
City of Paramount
Statement of Revenues, Expenses, and Changes in Net Position Proprietary Funds
For the Year Ended June 30, 2023
See accompanying Notes to the Basic Financial Statements. 34 Business-type Governmental
Activities ActivitiesWater Internal Service
Enterprise Fund Fund
Cash Flows From Operating Activities:

Receipts from customers and users 12,748,035 $ 500,000 $ Payments to suppliers (302,133) (7,951,720)
Payments to employees - (1,860,310)
Net cash provided by operating activities 197,867 2,936,005 Cash Flows From Noncapital Financing Activities:

Principal paid on pension obligation bonds (176,319) -
Interest paid on pension obligation bonds (47,421) -
Net cash (used in) noncapital financing activities (223,740) - Cash Flows From Capital and Related Financing Activities:

Acquisition of capital assets (1,378,631) (18,627)
Principal paid on capital debt (354,622) -
Interest paid on capital debt (315,443) -
Capital grant received 757,063 -
Net cash (used in) capital and related financing activities (1,291,633) (18,627) Cash Flows From Investing Activities
Interest received 49,734 43,182
Net cash provided by investing activities 49,734 43,182 Net change in cash and cash equivalents 1,470,366 222,422 Cash and Cash Equivalents:

Beginning of year 5,222,858 3,287,481
End of year $ 6,693,224 $ 3,509,903
Noncash Item:

Issuance of lease payable $ 40,090 $ -
Amortization of bond discount $ 1,608 $ -
Reconciliation of Operating Income to Net Cash Provided by Operating Activities:

Operating income (loss) $ 726,856 $ 130,107
Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities:

Depreciation expense 787,546 41,135
Changes in assets and liabilities:
(Increase)/decrease in accounts receivable 675,232 -
(Increase)/decrease in inventory (63,403) -
(Increase)/decrease in deferred inflows of resources - pensions 727,928 - (Increase)/decrease in deferred inflows of resources - OPEB (92,446) - Increase/(decrease) in accounts payable (363,767) 26,625 Increase/(decrease) in deposits payable 278,283 -
Increase (decrease) in compensated absences 12,229 -
Increase (decrease) in net pension liability 687,598 -
Increase (decrease) in net OPEB liability (741,890) -
Increase (decrease) in deferred inflows of resources - pensions 505,104 - Increase (decrease) in deferred inflows of resources - OPEB (203,265) - Total adjustments 2,209,149 67,760
Net cash provided by operating activities $ 197,867 2,936,005 $ City of Paramount
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2023
See accompanying Notes to the Basic Financial Statements. 35 This page intentionally left blank.
36 FIDUCIARY FUND FINANCIAL STATEMENTS
37 This page intentionally left blank.
38 Successor
Agency
Private-Purpose Custodial
Trust Fund Fund
ASSETS
Current Assets
Cash and investments $ 16,353 295,489 $
Restricted cash and investments 6,784,052 -
Interest receivable - 40
Notes receivable - 75
Due from the City of Paramount - 19,389
Total current assets 16,353 7,099,045
Noncurrent assets
Building and building improvement 358,066 -
Infrastructure - 4,277,466
Less: accumulated depreciation (3,597,536) -
Total noncurrent assets - 1,037,996
Total assets 16,353 8,137,041

DEFERRED OUTFLOWS OF RESOURCES
Deferred loss on refunding 2,292 -

LIABILITIES
Current liabilities
Accounts payable - 16,353
Interest payable 181,423 -
Bonds payable, due within one year 4,820,206 -
Total current liabilities 5,001,629 16,353
Noncurrent liabilities:

Bonds payable, due in more than one year 15,798,204 -
Deferred pass through payments 930,740 -
Total noncurrent liabilities 16,728,944 -
Total liabilities 21,730,573 16,353

DEFERRED OUTFLOWS OF RESOURCES
Deferred gain on refunding 8,547 -

NET POSITION (DEFICIT)
Restricted for:

Successor Agency for the Paramount Redevelopment Agency (13,599,787) - Total fiduciary net position $ - (13,599,787) $
City of Paramount
Statement of Fiduciary Net Position
June 30, 2023
Fiduciary Funds
See accompanying Notes to the Basic Financial Statements. 39 Successor
Agency
Private-Purpose
Trust Fund Custodial Fund
ADDITIONS:

Redevelopment property taxes trust fund 5,516,921 $ - $ Interest and use of property - 104,268
Total additions - 5,621,189
DEDUCTIONS:

Administrative expenses - 250,000
Depreciation - 200,091
Interest and fiscal agent expenses 666,994 -
Total deductions - 1,117,085
Change in net position - 4,504,104
NET POSITION:

Beginning of year - (18,103,891)
End of year $ - (13,599,787) $
City of Paramount
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended June 30, 2023
See accompanying Notes to the Financial Statements.
40 41

NOTES TO THE BASIC FINANCIAL STATEMENTS
42 This page intentionally left blank.

City of Paramount
Index to the Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
43 Page
Note 1 – Summary of Significant Accounting Policies ..................................................................................... 45 A. Description of the Reporting Entity ................................................................................................ 45 B. Basis of Accounting and Measurement Focus ................................................................................ 46 C. Cash and Investments ..................................................................................................................... 49 D. Interfund Loans Receivable and Payable ........................................................................................ 50 E. Accounts and Due from Other Governments .................................................................................. 50 F. Notes and Loans Receivable ........................................................................................................... 50 G. Inventories ...................................................................................................................................... 50 H. Land Held for Resale ...................................................................................................................... 50 I. Interfund Transactions .................................................................................................................... 51 J. Capital Assets ................................................................................................................................. 51 K. Deferred Outflows and Inflows of Resources ................................................................................. 51 L. Long-Term Liabilities ..................................................................................................................... 52 M. Arbitrage ......................................................................................................................................... 52 N. Compensated Absences .................................................................................................................. 52 O. Lease Liabilities .............................................................................................................................. 52 P. Pension ............................................................................................................................................ 53 Q. Other Postemployment Benefits ..................................................................................................... 53 R. Property Tax Revenues ................................................................................................................... 54 S. Net Position .................................................................................................................................... 54 T. Fund Balance .................................................................................................................................. 54 U. Use of Estimates ............................................................................................................................. 55 Note 2 – Cash and Investments .......................................................................................................................... 56 A. Demand Deposits ............................................................................................................................ 56 B. Investments Authorized by the California Government Code and the City’s Investment .............. 56 C. Investments Authorized by Debt Agreements ................................................................................ 57 D. Fair Value Measurements ............................................................................................................... 57 E. Disclosures Relating to Interest Rate Risk...................................................................................... 58 F. Disclosures Relating to Credit Risk ................................................................................................ 58 G. Concentration of Credit Risk .......................................................................................................... 59 H. Custodial Credit Risk ...................................................................................................................... 59 I. Investment in State Investment Pool .............................................................................................. 59 J. California Asset Management Program .......................................................................................... 59 Note 3 – Interfund Transactions ........................................................................................................................ 60 Note 4 – Notes Receivable ................................................................................................................................... 60 A. HOME Improvement Loan Program .............................................................................................. 60 B. HOME Senior Housing Loan ......................................................................................................... 60 C. Affordable Home Ownership Program – Clearwater Court ........................................................... 61 D. Home Improvement Loan Program ................................................................................................ 61 E. Commercial Rehabilitation Loan Program ..................................................................................... 61 City of Paramount
Index to the Notes to the Basic Financial Statements (Continued) For the Year Ended June 30, 2023
44 Page
Note 5 – Capital Assets ......................................................................................................................................... 62 A. Governmental Activities .................................................................................................................. 62 B. Business-Type Activities ................................................................................................................. 63 C. Fiduciary Activities ......................................................................................................................... 64 Note 6 – Long-Term Liabilities ........................................................................................................................... 64 A. Governmental Activities .................................................................................................................. 64 B. Business-Type Activities ................................................................................................................. 66 C. Fiduciary Activities ......................................................................................................................... 68 Note 7 – Pension .................................................................................................................................................... 70 A. General Information about the Pension Plan ................................................................................... 70 B. Pension Liabilities, Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions ........................................................................ 71 Note 8 – Other Postemployment Benefits (“OPEB”) ........................................................................................ 75 A. Information About the OPEB Plan .................................................................................................. 75 B. Net OPEB Liability .......................................................................................................................... 76 C. Changes in Net OPEB Liability ....................................................................................................... 77 D. OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB ............................................................................................................ 78 Note 9 – Deferred Compensation Plan ................................................................................................................ 79 Note 10 – Liability, Workers’ Compensation, and Purchased Insurance ....................................................... 79 A. Description of Self-Insurance Pool Pursuant to Joint Agreement ................................................... 79 B. Primary Self-Insurance Programs of the CJPIA .............................................................................. 79 C. Purchased Insurance ........................................................................................................................ 80 D. Adequacy of Protection ................................................................................................................... 81 Note 11 – Net Investment in Capital Assets ........................................................................................................ 81 Note 12 – Fund Balance ........................................................................................................................................ 82 Note 13 – Individual Fund Disclosure ................................................................................................................. 83 Note 14 – Prior Period Adjustment ..................................................................................................................... 83 Note 15 – Subsequent Events ............................................................................................................................... 84 City of Paramount
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
45 Note 1 – Summary of Significant Accounting Policies
A. Description of the Financial Reporting Entity
The City of Paramount, California (the “City”) was incorporated January 30, 1957, under the general laws of the State of California and enjoys all the rights and privileges pertaining to "General Law" cities. The City is governed by a five-member council and operates under a Council-Manager form of government. The City is considered a "contract city" since it provides some of its municipal services through contracts with private entities or other governmental agencies.

The accounting policies of the City conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) as applicable to governments. The Governmental Accounting Standards Board (“GASB”) is the accepted standard setting body for governmental accounting and financial reporting principles.

The City serves as the primary government for several entities which are included in the accompanying basic financial statements as blended component units as the City is financially accountable for them and they are governed by a board composed of City Council members. The component units are included because of a significant financial relationship with the City. Additionally, the component units provide services entirely, or almost entirely, to the City or for the benefit of the City. Lastly, the City has responsibility for repayment of debt of the component units. A brief description of these related entities and the method of incorporating their financial information in the accompanying basic financial statements are summarized as follows:
 The Paramount Housing Authority (the “Housing Authority”) was established in December of 1984 pursuant to Section 34200 et seq., of the Health and Safety Code of the State of California. The Housing Authority is governed by a board composed of City Council members. The City’s management has the operational responsibility for the component unit. The primary purpose of the Housing Authority is to help provide affordable housing assistance to low and moderate income persons. Financial activity for this entity is included in a Special Revenue Fund of the accompanying basic financial statements. There is no separate financial report issued with respect to the Housing Authority.  The Paramount Parking Authority (the “Parking Authority”) was established in June of 1982 in accordance with the Parking Law of 1949 commencing with Section 32500 of the State of California Streets and Highway Code. The Parking Authority is governed by a board composed of City Council members.

Additionally, the Parking Authority provides services entirely to the City. The primary purpose of the Parking Authority is to fund and develop parking facilities in the Central Business District and throughout the City.

Financial activity for this entity is included in a Capital Project Fund of the accompanying basic financial statements. There is no separate financial report issued with respect to the Parking Authority.  The Paramount Industrial Development Authority (the “Development Authority”) was established in February of 1982 in accordance with the California Industrial Development Financing Act, Title 10, commencing with Section 91500 of the State of California Government Code. The Development Authority is governed by a board composed of City Council members. The City’s management has the operational responsibility for the component unit. The primary purpose of the Industrial Development Authority is to increase opportunities for useful employment and contribute to the economic growth of the community by providing an alternative method to finance industrial development. During the year ended June 30, 2023, there was no financial activity for the Development Authority.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
46 Note 1 – Summary of Significant Accounting Policies (Continued) A. Description of the Financial Reporting Entity (Continued)  The Paramount Public Financing Authority (the “Financing Authority”) was established in July of 1991 pursuant to Article 4 of Chapter 5 of Division 7 of Title 1 of the State of California Government Code. The Financing Authority is governed by a board composed of City Council members. Additionally, the Financing Authority provides services entirely to the City. The primary purpose of the Financing Authority is to purchase bonds issued by the former Redevelopment Agency for financing and refinancing public capital improvements, working capital, liability and other insurance needs, or projects whenever there are significant public benefits, as determined by the Redevelopment Agency. On February 1, 2012, all redevelopment agencies in the State of California were dissolved and ceased to operate as legal entities.

B. Basis of Accounting and Measurement Focus
The term basis of accounting refers to the timing of when revenues and expenditures or expenses are recognized in the accounts and reported in the basic financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied.

Government-Wide Financial Statements
The City’s Government-Wide Financial Statements include a Statement of Net Position and a Statement of Activities. These statements include separate columns for the governmental and business-type activities for the City.

These statements are presented on an “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all of the City’s assets, deferred outflows of resources, liabilities and deferred inflows of resources, including capital assets and infrastructure as well as long-term debt, are included in the accompanying Statement of Net Position. The Statement of Activities presents the changes in net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred. The Statement of Activities demonstrates the degree to which the direct expenses of a given function are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function. Additionally, the City allocates a portion of its indirect costs to individual functions. These indirect costs have been included as part of the program expenses reported for the various functional activities. The types of transactions reported as program revenues for the City are reported in three categories: 1) charges for services, 2) operating grants and contributions, and 3) capital contributions and grants.

Charges for services include revenues from customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function. Operating grants and contributions include revenues restricted to meeting the requirements of a particular operating function and may include state shared revenues and grants. Capital contributions and grants include revenues restricted to meeting the requirements of a particular capital function and may include grants and developer fees. Taxes and other items not properly included among program revenues are reported instead as general revenues.

Certain eliminations have been made as to inter-fund activities, payables, and receivables. Balances between the funds included in governmental activities (i.e., the governmental and internal service funds) are eliminated so that only the net amount is included as internal balances in the governmental activities column. Interfund services provided and used are eliminated in the process of consolidation.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
47 Note 1 – Summary of Significant Accounting Policies (Continued) B. Basis of Accounting and Measurement Focus (Continued) Fund Financial Statements
Separate financial statements provide information about the government's funds, including its fiduciary funds and blended component units. Separate statements for each fund category – governmental, proprietary, and fiduciary – are presented. The emphasis of fund financial statements is on major governmental and proprietary funds, each displayed in a separate column. All remaining governmental funds are aggregated and reported as nonmajor funds.

Major individual governmental and proprietary funds are reported as separate columns in the fund financial statements.

Governmental Fund Financial Statements
Governmental fund financial statements include a Balance Sheet and Statement of Revenues, Expenditures, and Changes in Fund Balances for all major governmental funds and aggregated non-major funds. An accompanying schedule is presented to reconcile and explain the differences in fund balances as presented in these statements to the net position and changes in net position presented in the Government-Wide Financial Statements.

All governmental funds are accounted for on a “current financial resources” measurement focus and the modified accrual basis of accounting. The Statement of Revenues, Expenditures and Changes in Fund Balances present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in fund balances. Revenues are recognized in the accounting period in which they become susceptible to accrual, that is, when they become both measurable and available to finance expenditures of the current period. “Measurable” means that the amount of the transaction can be determined, and “available” means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. In general, the City considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. On the other hand, for granting/reimbursable programs, the City considers revenues to be available if they are collected within 12 months of the end of the current fiscal year due to the extended nature of the reimbursement process.

Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due.

Property taxes, utility user taxes, franchise taxes, sales taxes, licenses, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period to the extent they are measurable and available. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items, with the exception of grants, are considered to be measurable and available only when cash is received by the government.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
48 Note 1 – Summary of Significant Accounting Policies (Continued) B. Basis of Accounting and Measurement Focus (Continued) Governmental Fund Financial Statements (Continued)
The City reports the following major governmental funds:

General Fund – The General Fund is the City’s primary operating fund. It accounts for all financial resources of the City, except those required to be accounted for in another fund.

Other Grants Special Revenue Fund – The Other Grants Special Revenue Fund is used to account for various operational and capital improvement grants that are either small in size or available for a limited time. The revenues are comprised of federal, state, county and private grants that are restricted as to their purpose.

American Rescue Plan Act of 2021 (“ARPA”) Special Revenue Fund – The ARPA Special Revenue Fund is used to fund COVID-19 expenditures or negative economic impacts of COVID-19, revenue replacement for the provision of government services to the extent of the reduction of revenue due to COVID-19 public health emergency, premium pay for essential workers, and investment in water, sewer, and broadband infrastructure.

The revenue is comprised of Federal grants passed through the State that are restricted as to their purpose.

Proprietary Fund Financial Statements
Proprietary funds follow the economic resources measurement of focus and the accrual basis of accounting.

Revenues are recognized when earned and expenses are recognized when incurred. Accordingly, all assets, deferred outflows of resources, all liabilities (whether current or non-current) and deferred inflows of resources associated with their activity are included on their statement of net position. Their reported fund equity is presented as total net position. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in total net position.

Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations, such as charges for water services. The principal operating revenues of the City’s internal service fund are charges to other funds for services rendered. Operating expenses for the internal service fund include the cost of materials and supplies, maintenance of capital assets and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.

The City reports the following major proprietary fund:

Water Enterprise Fund – The Water Enterprise Fund is the City’s only major proprietary fund. It is used to account for the activities of the City-owned water utility which provides service to approximately 7,700 accounts.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
49 Note 1 – Summary of Significant Accounting Policies (Continued) B. Basis of Accounting and Measurement Focus (Continued) Proprietary Fund Financial Statements (Continued)
The City’s internal service fund is presented in the proprietary funds financial statements and is used to finance and account for goods and services provided by one City department to other City departments including the purchase and maintenance of vehicles and equipment. Because the principal users of the internal services are the City’s governmental activities, the financial statements of the internal service funds are included in the governmental activities column when presented in the government-wide financial statements. To the extent possible, the cost of these services is reported in the appropriate functional activity (general government, community development, public safety, etc.).

Internal Service Fund – The Equipment Replacement Internal Service Fund is included under this category to account for the timely replacement of the vehicles and major equipment used by general government departments on a regular basis.

Fiduciary Fund Financial Statements
Fiduciary fund financial statements include a Statement of Net Position and a Statement of Changes in Fiduciary Net Position. The City’s fiduciary funds represent custodial funds and private purpose trust funds. Both custodial funds and the private purpose trust funds are accounted for on the full accrual basis of accounting where the assets associated with the activity are controlled by the City and the assets are not derived 1) solely from the government’s own-source revenues or 2) from government-mandated nonexchange transactions or voluntary nonexchange transactions.

The City reports the following two types of fiduciary funds:

Private-Purpose Trust Funds – The Private-Purpose Trust Funds are used to account for assets held by the City in a trustee capacity to pay enforceable obligations of the former Paramount Redevelopment Agency and to account for property held by the Successor Agency for the Paramount Redevelopment Agency until its disposal through sale or transfer. The Private-Purpose Trust Funds are not included in the government-wide statements.

Custodial Fund – The Custodial Fund is used to account for assets for the benefit of organizations or other governments that are not part of the City. In addition, the assets are not derived from the City’s provision of goods or services to those individuals, organizations, or other governments.. The Custodial Fund is custodial in nature and the fund is accounted for an economic resources focus. The majority of this fund relates to the delinquent trash assessments collected from the County on behalf of CalMet Services Incorporated, which was acquired by Athens Services on April 1, 2022. The Custodial Fund is not included in the government wide financial statements.

C. Cash and Investments and Cash Equivalents
Cash and investments consisted of cash in demand deposit accounts and investments in the U.S. Treasury Notes, the State Treasurer’s Local Agency Investment Fund and negotiable certificates of deposit. The City’s cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturity of three months or less from the date of acquisition.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
50 Note 1 – Summary of Significant Accounting Policies (Continued) C. Cash and Investments and Cash Equivalents (Continued) All cash and investments of proprietary funds are held in the City's investment pool as well. These cash pools have the general characteristics of a demand deposit account, therefore, all cash and investments in the proprietary funds are considered cash and cash equivalents for Statement of Cash Flows purposes.

D. Restricted Cash and Investments
Provisions of the City’s trust agreements related to the Successor Agency’s tax allocation bonds require that certain restricted investment accounts be established. These accounts are held by the fiscal agent and include funds for payment of principal and interest.

E. Fair Value Measurement
U.S. GAAP defines fair value, establishes a framework for measuring fair value and establishes disclosure about fair value measurement. Investments, unless otherwise specified at fair value in the financial statements, are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Levels of inputs are as follows:
 Level 1 – Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date.
 Level 2 – Inputs, other than quoted prices included in Level 1, that are observable for the assets or liabilities through corroboration with market data at the measurement date.  Level 3 – Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the assets or liabilities at the measurement date.

F. Prepaid Items and Deposits
Prepaids represent payments to vendors that reflect costs applicable to future accounting periods. Prepaid items are reported using the consumption method. Deposits are advance payments to vendors when orders are placed.

Prepaid items and deposits are reported in both the government-wide and fund financial statements.

G. Inventories
Inventory in the Water Enterprise Fund consists principally of maintenance parts and miscellaneous supplies. The inventory is valued at cost on a first-in, first-out basis and is accounted for using the consumption method.

H. Land Held for Resale
Land Held for Resale primarily represents assets acquired in the redevelopment process and recorded at the lower of historical cost or estimated net realizable value. The major portion represents land and improvements owned by the City to further the redevelopment plan. When these properties are resold, any gain or loss on sale will be recognized as transactions are completed.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
51 Note 1 – Summary of Significant Accounting Policies (Continued) I. Interfund Transactions
In the governmental fund financial statements, activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either "due to/from other funds" (i.e., the current portion of inter-fund loans). In the government-wide financial statements, these activities have been eliminated.

Transfers between governmental or between proprietary funds are eliminated as part of the reconciliation to the government-wide financial statements.

J. Capital Assets
Capital assets, which include land, land improvements, buildings and improvements, fine art, computer equipment, vehicles, other equipment, and right-to-use assets are reported in the Government-Wide Financial Statements and Proprietary Fund Financial Statements. In accordance with the provisions of GAAP, infrastructure assets related to governmental activities are reflected in the basic financial statements. Capital assets are defined by the City as fine art, computer equipment, vehicles, other equipment and intangible assets (i.e., software) with an initial individual cost of more than $5,000; and land, land improvements, buildings and improvements, and infrastructure with costs of more than $50,000. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated or annexed capital assets are recorded at estimated acquisition value at the date of donation or annexation. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Depreciation is recorded in the Government-wide Financial Statements on a straight-line basis over the useful life of the assets as follows on the next page:

Assets Years
Land improvements 20 years
Buildings and improvements 10 - 50 years
Fine art 20 years
Computer equipment 5 years
Vehicles 6 - 7 years
Other equipment 3 - 20 years
Infrastruture 15 - 100 years
Right-to-use lease assets lesser of lease term or useful life K. Deferred Outflows and Inflows of Resources
The statement of net position reports separate sections for deferred outflows of resources and deferred inflows of resources, when applicable.

Deferred Outflows of Resources represent a consumption of net assets that applies to future periods.

Deferred Inflows of Resources represent an acquisition of net assets that applies to future periods.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
52 Note 1 – Summary of Significant Accounting Policies (Continued) L. Long-Term Liabilities
In the government-wide and proprietary funds financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable Statement of Net Position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable bond premium or discount. Bond issuance costs are recognized as an expense in the period incurred.

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

M. Arbitrage
In accordance with Section 148 (f)(2) in the Internal Revenue Code of 1986, as amended, arbitrage on tax exempt debt offerings is reviewed every five years and the corresponding liability is accrued accordingly. There was no arbitrage liability as of June 30, 2023.

N. Compensated Absences
Compensated absences (unpaid vacation, sick leave and compensatory time) are recorded as expenditures in the fiscal year due and payable. For governmental activities, compensated absences are generally liquidated by the General Fund and for business-type activities, compensated absences are liquidated by the Water Enterprise fund.

The liability associated with these benefits is reported in the government-wide statements.

O. Lease Liabilities
The City recognizes lease liabilities with an initial, individual value of $5,000 or more with a lease term greater than one year in the government-wide and proprietary fund financial statements. Variable payments based on future performance of the lessee or usage of the underlying asset are not included in the measurement of the lease liability.

At the commencement of a lease, the City initially measures the lease liability at the present value of payments expected to be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made.

Key estimates and judgments related to leases include how the City determines (1) the discount rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease payments.  The City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its incremental borrowing rate as the discount rate for leases.
 The lease term includes the noncancellable period of the lease. Lease payments included in the measurement of the lease liability are composed of fixed payments and purchase option price that the City is reasonably certain to exercise.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
53 Note 1 – Summary of Significant Accounting Policies (Continued) O. Lease Liabilities (Continued)
The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure any lease asset or liability if certain changes occur that are expected to significantly affect the amount of the lease liability.

P. Pension
For purposes of measuring the aggregate net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the plans and additions to/deductions from the plans’ fiduciary net position have been determined on the same basis as they are reported by the plans. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with benefit terms. Investments are reported at fair value.

The following timeframes are used for pension reporting:

Valuation Date June 30, 2021
Measurement Date June 30, 2022
Measurement Period July 1, 2021 to June 30, 2022
Gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time. The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to pensions and are to be recognized in future pension expense. The amortization period differs depending on the source of the gain or loss. The difference between projected and actual earnings is amortized straight-line over 5 years. All other amounts are amortized straight-line over the average expected remaining service lives of all members that are provided with benefits (active, inactive, and retired) as of the beginning of the measurement period.

Q. Other Postemployment Benefits
For purposes of measuring the net other postemployment benefits (“OPEB)” liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, benefit payments are recognized when due and payable in accordance with benefit terms.

The following timeframes are used for OPEB reporting:

Valuation Date June 30, 2021
Measurement Date June 30, 2022
Measurement Period July 1, 2021 to June 30, 2022
Gains and losses related to changes in total OPEB liability are recognized in OPEB expense systematically over time. The first amortized amounts are recognized in OPEB expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to OPEB and are to be recognized in future OPEB expense. The amortization period differs depending on the source of the gain or loss. The difference between projected and actual earnings is amortized straight-line over 5 years. All other amounts are amortized straight-line over the average expected remaining service lives of all members that are provided with benefits (active, inactive, and retired) as of the beginning of the measurement period.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
54 Note 1 – Summary of Significant Accounting Policies (Continued) R. Property Tax Revenues
The County of Los Angeles levies property taxes on behalf of the City.

Property tax revenues are calculated annually in accordance with the Tax Equity Allocation (“TEA”) formula specified in Revenue and Taxation Code Section 97.35. Secured property taxes are levied against real property and are due and payable in two equal installments. The first installment is due on November 1 and becomes delinquent if not paid by December 10. The second installment is due on February 1 and becomes delinquent if not paid by April 10. Unsecured personal property taxes are due on July 1 each year. These taxes become delinquent if not paid by August 31. For the year ended June 30, 2023, property tax revenue to the City totaled $3,059,499.

S. Net Position
In the Government-Wide Financial Statements and proprietary fund financial statements, net position is classified as follows:

Net Investment in Capital Assets – This component of net position consists of capital assets, net of accumulated depreciation, reduced by the outstanding balances of retention payable and debt that are attributable to the acquisition, construction, or improvement of those assets.

Restricted Net Position – This component of net position consists of restricted assets reduced by liabilities and deferred inflows of resources related to those assets with external restrictions imposed by creditors, grantors, contributions or laws or regulations of other governments, and restrictions imposed by law through constitutional provisions or enabling legislation.

Unrestricted Net Position – This component of net position is the amount of the assets, deferred outflows of resources, liabilities, and deferred inflows of resources that are not included in the determination of net investment in capital assets or the restricted component of net position.

When expenses are incurred for purposes for which both restricted and unrestricted components of net position are available, the City’s policy is to apply the restricted component of net position first, then the unrestricted component of net position as needed.

T. Fund Balance
In the Governmental Fund Financial Statements, fund balances are classified as follows:

Nonspendable – Nonspendable fund balances are items not in spendable form (such as prepaid items or inventory) or required to be maintained intact such as an endowment.

Restricted – Restricted fund balances are balances subject to externally enforceable legal restrictions or imposed by law through constitutional provisions or enabling legislation.

Committed – Committed fund balances are constrained to specific purposes by a formal action of the City Council, the highest level of decision-making authority for the City, such as a resolution. The constraint remains binding unless removed in the same formal manner by the City Council. Council action to commit fund balance must occur within the fiscal reporting period while the amount committed may be determined subsequently.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
55 Note 1 – Summary of Significant Accounting Policies (Continued) T. Fund Balance (Continued)
On May 9, 2023, the City passed a resolution and committed fund balances as follows:
 Operating reserve at 50% of adopted operating expenditures.  Economic uncertainty at 10% of adopted operating expenditures. This committed reserve is held to mitigate annual revenue shortfalls due to a fluctuating economy, unforeseen natural disaster, or actions by the state/federal government. This reserve shall be used to support core City services. Access to this reserve shall be triggered by a resolution declaring a state of emergency for the City or when there is a significant decrease of more than 10% in the General Fund revenues.  Infrastructure and facility emergencies at 10% of adopted operating expenditures. This committed reserve is set aside for a catastrophic emergency that requires the repair or rebuilding of the City’s streets, hard-scape, facilities, communication and technology systems, or other City-owned properties. This reserve may be utilized to provide resources to meet emergency expenditures in the case of flood, fire, earthquake, or other disasters.

Assigned – Assigned fund balances are resources constrained, by the City’s intent, to be used for specific purposes but are neither restricted nor committed. The City’s Fund Balance Policy delegates to the Finance Director the authority to assign unrestricted fund balance amounts where the City’s intent is for those amounts to be used for specific purposes. This delegation of authority is for the sole purpose of reporting these amounts in the annual financial statements.

Unassigned – Unassigned fund balance within the General Fund are the residual resources, either positive or negative, in excess of what can be properly classified in one of the other four fund balance categories. This also includes the negative residual resources in excess of what can be properly classified as nonspendable, restricted, or committed within all other governmental funds.

When expenditures are incurred for purposes for which both restricted and unrestricted (committed, assigned, or unassigned) fund balances are available, the City’s policy is to first apply restricted fund balance. When expenditures are incurred for purposes for which committed, assigned or unassigned fund balances are available, the City’s policy is to first apply committed fund balance. It is at the discretion of the Council’s designee to then apply the remaining expenditures to assigned or unassigned fund balance.

U. Use of Estimates
The preparation of the basic financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
56 Note 2 – Cash and Investments
Cash and investments as of June 30, 2023 are classified in the accompanying financial statements as follows:

Statement of
Governmental
Activities
Business-type
Activities
Fiduciary Net
Position Total
Cash and investments 61,121,692 $ 6,693,224 $ 311,842 $ 68,126,758 $ Cash and investment with fiscal agent 7,293 - 6,784,052 6,791,345 Total cash and investments $ 61,128,985 $ 6,693,224 $ 7,095,894 $ 74,918,103 Government-Wide
Statement of Net Position
Cash and investments as of June 30, 2023 consisted of the following:

Petty cash $ 8,275
Deposits with financial institutions 4,661,828
Investments 70,248,000
Total cash and investments $ 74,918,103
A. Demand Deposits
The carrying amounts of the City’s demand deposits were $4,661,828 at June 30, 2023. Bank balances at that date were $5,968,217, the total amount of which was insured or collateralized with accounts held by the pledging financial institutions in the City’s name as discussed below.

The California Government Code requires California banks and savings and loan associations to secure the City’s cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest in such collateral superior to those of a general creditor. Thus, collateral for cash deposits is considered to be held in the City’s name.

The market value of pledged securities must equal at least 110% of the City’s cash deposits. California law also allows institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the City’s total cash deposits. The City may waive collateral requirements for cash deposits, which are fully insured up to $250,000 by the Federal Deposit Insurance Corporation (“FDIC”). The City, however, has not waived the collateralization requirements.

B. Investments Authorized by the California Government Code and the City’s Investment Policy The table below identifies the investment types that are authorized for the City by the California Government Code and the City’s investment policy, adopted on June 7, 2022. The table also identifies certain provisions of the City’s investment policy that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustee that are governed by the provisions of debt agreements of the City.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
57 Note 2 – Cash and Investments (Continued)
B. Investments Authorized by the California Government Code and the City’s Investment Policy (Continued) Authorized Investment Type Maturity
Maximum
Percentage of
Portfolio
Maximum
Investment in One
Issuer
U.S. Treasury obligations 5 years None None
US government sponsored enterprise securities 5 years None None Local Agency Investment Fund ("LAIF") Upon Demand None $65 million Los Angeles County Investment Pool Upon Demand None None Joint Powers Authority Pool N/A None None
Negotiable certificates of deposit 5 years 30% None
Time deposit or placement service deposits 5 years 50% None C. Investments Authorized by Debt Agreements
Investment of debt proceeds held by the bond trustee is governed by provisions of the debt agreements of the City, rather than the general provisions of the California Government Code or the City’s investment policy. The table below identifies the investment types that are authorized for investments held by the bond trustee.

Authorized Investment Type Maturity
Federal agency securities None
Certificates of deposit None
Bank repurchase agreement None
Money market fund None
Investment agreement None
Local Agency Investment Fund None
D. Fair Value Measurement
At June 30, 2023, investments are reported at fair value. The following table presents the fair value measurements of investments on a recurring basis and the levels with GASB 72 fair value hierarchy in which the fair value measurements fall at June 30, 2023.

Quoted Prices in
Active Markets for Significant Other
Identical Assets Observable Inputs
Investment Type Value (Level 1) (Level 2) Uncategorized Investments:

US Treasury notes 33,304,063 $ 33,304,063 $ - $ - $
US government sponsored enterprise securities 11,265,992 - 11,265,992 - Negotiable certificates of deposit 4,698,234 - 4,698,234 - Money market funds 1,743,300 - - 1,743,300
LAIF - 287,020 - 287,020
CAMP - 12,158,046 - 12,158,046
Investments with fiscal agent:

Money market funds 6,791,345 - - 6,791,345
Total investments 70,248,000 $ 33,304,063 $ 15,964,226 $ 20,979,711 $ Fair Value Measurement
Level 2 values are based on institutional bond quotes and matrix pricing.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
58 Note 2 – Cash and Investments (Continued)
E. Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment the greater the sensitivity of its fair value to changes in market interest rates. As of June 30, the weighted average maturity of the investments contained in the LAIF investment pool is approximately 10 months.

Information about the sensitivity of the fair values of the City’s investments to market interest rate fluctuations is provided by the following table that shows the maturity date of each investment:

Investment Type Amount Less than 1 1 to 2 2 to 3 3 to 4 4 to 5 Investments:

US Treasury notes $ 33,304,063 $ 16,950,700 $ 5,986,663 $ 5,270,795 $ 4,621,120 $ 474,785 US government sponsored
enterprise securities 11,265,992 2,972,760 2,409,360 701,355 3,692,077 1,490,440 Negotiable certificates of deposit 4,698,234 245,280 - 715,412 3,737,542 - Money market funds 1,743,300 1,743,300 - - - -
LAIF 287,020 287,020 - - - -
CAMP 12,158,046 12,158,046 - - - -
Investments with Fiscal Agent:

Money market funds 6,791,345 6,791,345 - - - -
Total investments $ 70,248,000 $ 40,903,171 $ 8,641,303 $ 6,687,562 $ 8,313,197 $ 5,702,767 Investment Maturities (in Years)
F. Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. The City does not have a formal policy relating to a specific deposit or investment risk other than what has been defined by Government Code.

Minimum
Legal
Investment Type Rating Total AAA Unrated
Investments:

US Treasury notes None 33,304,063 $ $ 33,304,063 $ -
US government sponsored enterprise securities None 11,265,992 11,265,992 - Negotiable certificates of deposit None 4,698,234 4,698,234 - Money market funds None 1,743,300 1,743,300 -
LAIF None 287,020 - 287,020
CAMP None 12,158,046 12,158,046 -
Investments with Fiscal Agent:

Money market funds None 6,791,345 6,791,345 -
Total investments $ 70,248,000 $ 65,262,746 $ 4,985,254 City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
59 Note 2 – Cash and Investments (Continued)
G. Concentration of Credit Risk
The City’s investment policy contains no limitations on the amount that can be invested in any one issuer beyond that stipulated by the California Government Code. Investments in any one issuer (other than U.S. Treasury securities, mutual funds, and external investment pools) that represent 5% or more of the total City's investments for the year ended June 30, 2023 are as follows:

Issuer Reported Amount
Federal National Mortgage Association US government sponsored enterprise securities $ 3,932,765 Federal Home Loan Mortgage Corp US government sponsored enterprise securities 6,173,758 Investment Type
H. Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker-dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code and the City’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for investments. With respect to investments, custodial credit risk generally applies only to direct investments in marketable securities. Custodial credit risk does not apply to a local government’s indirect investment in securities through the use of mutual funds or government investment pools (such as LAIF).

I. Investment in State Investment Pool (“LAIF”)
The City is a participant in LAIF, which is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. As of June 30, 2023, the City had $287,020 invested in LAIF.

The value of the City’s investment in the pool is reported in the accompanying financial statements at amounts based on the City’s pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which is recorded at the amortized cost.

J. California Asset Management Program
California Asset Management Program (“CAMP”) is a California joint powers authority established in 1989 to provide California public agencies with professional investment services. The City invests in CAMP’s Cash Reserve Portfolio (the “CAMP Pool”) as permitted for all local agencies under California Government Code Section 53601(p). The CAMP Pool is fully liquid and met the criteria as an external investment pool under GASB 79 to be reported at amortized cost.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
60 Note 3 – Interfund Transactions
At June 30, 2023, the City had the following due from/to other funds:

Due To Other Funds
Other Grants Special Revenue Fund
Nonmajor Governmental Funds
Total
287,390
$ 991,181
$ 1,278,571
Due From Other Funds
General Fund
The amounts due to the General Fund from the Other Grants Special Revenue Fund and nonmajor governmental funds are short- term loans to provide cash flow.

Note 4 – Notes Receivable
The following is a summary of notes receivable by fund at June 30, 2023:

Home Partnership Act Special Revenue Fund:

Home Improvement Loan Program $ 129,557
Senior Housing Note 948,500
Allowance for notes receivable (948,500)
Total Home Partnership Act Special Revenue Fund 129,557 Paramount Housing Authority Special Revenue Fund:

Affordable Home Ownership Program - Clearwater Court 431,603 Home Improvement Loan Program 35,690
Total Paramount Housing Authority Special Revenue Fund 467,293 Total nonmajor governmental funds $ 596,850
Successor Agency Private Purpose Trust Fund:

Commercial Rehabilitation Loan Program $ 75
The corresponding fund balance has been classified as restricted in the accompanying financial statements.

A. HOME Improvement Loan Program
The HOME Improvement Loan Program is designed to assist homeowners with their required contribution to the cost of a home improvement project. The program provides interest free loans up to $8,000 to cover up to 100% of the homeowner’s contribution. The loans are secured by a Deed of Trust and become due upon the sale, refinancing, or transfer of the property. The total amount outstanding is $129,557 at June 30, 2023.

B. HOME Senior Housing Loan
On June 27, 2012, the City entered into a 20-year-forgivable loan agreement with the Gold Key Development to develop a senior housing at 8421 Adams. The loan had an outstanding balance of $948,500 as of June 30, 2023.

The entire loan amount is recorded as a note receivable with an allowance to deferred note receivable as the City does not anticipate to receiving any cash payments from the borrower.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
61 Note 4 – Notes Receivable (Continued)
C. Affordable Home Ownership Program – Clearwater Court During Fiscal Year 1994, the former Paramount Redevelopment Agency implemented an Affordable Home Ownership Program designed to assist first-time homebuyers with the purchase of a home. The Agency assisted six homebuyers by providing secured second trust deeds totaling $510,816, which would significantly reduce their monthly mortgage payments. The notes plus accrued interest are due upon sale of the property. However, if the homeowner resides in the property for thirty years, the note plus accrued interest is forgiven. The total amount outstanding is $431,603 at June 30, 2023. On June 27, 2012, the former Redevelopment Agency transferred the Affordable Home Ownership Loans to the Paramount Housing Authority.

D. Home Improvement Loan Program
During Fiscal Year 2008, the former Paramount Redevelopment Agency implemented a Home Improvement Loan Program designed to assist homeowners with their required contribution to the cost of a home improvement project. The program provides interest free loans up to $8,000 to cover up to 100% of the homeowner’s contribution. The loans are secured by a Deed of Trust and become due upon the sale, refinancing, or transfer of the property. The total amount outstanding is $35,690 at June 30, 2023.

E. Commercial Rehabilitation Loan Program
During the year ended June 30, 2018, the Paramount Redevelopment Agency implemented a Commercial Rehabilitation Loan Program designed to assist business property owners with their required contribution to the cost of a commercial rehabilitation project. The program provides interest free loans up to $50,000 to cover up to one half of the business property owner’s contribution. The loans have a term of 5 years, are secured by a Deed of Trust and become due upon the sale, refinancing or transfer of the property. The total amount outstanding is $75 at June 30, 2023.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
62 Note 5 – Capital Assets
A. Governmental Activities
The summary of changes in the capital assets for the governmental activities for the year ended June 30, 2023 is as follows:

Balance Balance
July 1, 2022 Additions Deletions Reclassification June 30, 2023 Capital assets not being depreciated:

Land $ 14,849,080 $ - $ - $ 14,849,080 - $
Construction in progress 8,215,143 3,935,929 (2,945,338) - 9,205,734 Total capital assets not being depreciated 23,064,223 3,935,929 (2,945,338) - 24,054,814 Capital assets being depreciated:

Land improvements 24,895,967 - - 24,895,967 -
Buildings and improvements 20,630,190 140,446 (101,407) 20,331 20,689,560 Other equipment 2,726,144 426,994 (91,337) 51,764 3,113,565 Vehicles 2,704,317 427,549 (173,311) 2,958,555 -
Computer equipment 306,335 18,929 - - 325,264
Fine arts 1,394,693 - - 1,394,693 -
Infrastructure 120,520,534 4,040,389 2,873,243 - 127,434,166 Total capital assets being depreciated 173,178,180 5,054,307 (366,055) 2,945,338 180,811,770 Less accumulated depreciation for:

Land improvements (18,800,795) (763,414) - (19,564,209) - Buildings and improvements (13,253,672) (500,421) 101,407 (13,652,686) - Other equipment (2,142,377) (154,308) 81,862 (2,214,823) - Vehicles (2,223,643) (209,177) 172,137 (2,260,683) -
Computer equipment (238,335) (31,621) - (269,956) -
Fine arts (956,339) (39,605) - (995,944) -
Infrastructure (85,502,623) (4,584,571) - (90,087,194) - Total accumulated depreciation (123,117,784) (6,283,117) 355,406 (129,045,495) - Total capital assets being depreciated, net 50,060,396 (1,228,810) (10,649) 2,945,338 51,766,275 Intangigle assets, being amortized
Right-of-use leased vehicles 118,299 326,879 - - 445,178 Accumulated amortization (30,794) (25,164) - - (55,958) Total intangible assets, being amortized, net 87,505 301,715 - - 389,220 Total governmental activities $ 73,212,124 $ 3,008,834 $ (10,649) $ 76,210,309 - $ Depreciation and amortization expense was charged to the governmental activities as follows:

General government $ 292,237
Community development 26,451
Public safety 32,075
Community services and recreation 915,933
Public works 5,000,450
Internal service fund 41,135
Total depreciation and amortization expense $ 6,308,281 City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
63 Note 5 – Capital Assets (Continued)
B. Business-Type Activities
The summary of changes in the capital assets for the business-type activities for the year ended June 30, 2023 is as follows:

Balance Balance
July 1, 2022 Additions Deletions June 30, 2023
Capital assets not being depreciated:

Land $ 2,894,476 $ - $ 2,894,476 - $
Construction in progress 9,572,818 1,375,292 10,948,110 - Total capital assets not being depreciated 12,467,294 1,375,292 13,842,586 - Capital assets being depreciated:

Buildings and wells 10,863,475 - 10,863,475 -
Mains 21,614,830 - 21,614,830 -
Distribution equipment 6,953,290 - 6,953,290 -
Other equipment 1,194,096 91,333 1,285,429 -
Tools 23,089 - - 23,089
Vehicles 610,101 - - 610,101
Computer equipment 268,242 - - 268,242
Total capital assets being depreciated 41,527,123 91,333 41,618,456 - Less accumulated depreciation for:

Buildings and wells (5,266,681) (305,410) (5,572,091) - Mains (14,368,505) (354,672) (14,723,177) -
Distribution equipment (5,896,715) (62,353) (5,959,068) - Other equipment (1,090,257) (20,822) (1,111,079) -
Tools (23,089) - - (23,089)
Vehicles (504,872) (37,475) (542,347) -
Computer equipment (258,672) (4,141) (262,813) -
Total accumulated depreciation (27,408,791) (784,873) (28,193,664) - Total capital assets being depreciated, net 14,118,332 (693,540) 13,424,792 - Intangigle assets, being amortized
Right-of-use leased vehicles - 40,090 - 40,090
Accumulated amortization - (2,673) - (2,673)
Total intangible assets, being amortized, net - 37,417 - 37,417 Total business-type activities $ 719,169 26,585,626 $ - $ 27,304,795 $ Depreciation and amortization expense was charged to business-type activities as follows:

Water $ 787,546
City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
64 Note 5 – Capital Assets (Continued)
C. Fiduciary Activities
The summary of changes in the capital assets for the fiduciary activities for the year ended June 30, 2023 is as follows:

Balance Balance
July 1, 2022 Additions Deletions June 30, 2023
Capital assets being depreciated:

Buildings and improvements $ 358,066 $ - $ - $ 358,066
Infrastructure 4,277,466 - 4,277,466 -
Total capital assets being depreciated 4,635,532 - 4,635,532 - Less accumulated depreciation for:

Buildings and improvements (348,804) (6,174) (354,978) - Infrastructure (3,048,641) (193,917) (3,242,558) -
Total accumulated depreciation (3,397,445) (200,091) (3,597,536) - Total capital assets being depreciated, net $ 1,238,087 $ (200,091) $ 1,037,996 - $ Depreciation expense in the amount of $200,091 was charged to the Fiduciary Activities – Successor Agency Private Purpose Trust Fund.

Note 6 – Long-Term Liabilities
A. Governmental Activities
The summary of changes in the long-term liabilities for the governmental activities for the year ended June 30, 2023 is as follows:

Balance
July 1, 2022 Balance Due within Due in more
(As Restated) Additions Deletions June 30, 2023 One Year than One Year Compensated absences $ 696,033 $ 592,684 $ (467,396) $ 821,321 $ 265,527 $ 555,794 Direct Borrowing:

Financed purchases 105,601 (61,346) - 44,255 32,091 12,164 Public Offering:

Pension Obligation Bonds 15,130,125 (1,193,681) - 13,936,444 1,228,533 12,707,911 Bond discount (174,148) 10,884 - (163,264) (10,884) (152,380) Lease payable 92,056 326,879 (93,716) 325,219 80,987 244,232 Total $ 15,849,667 $ 919,563 $ (1,805,255) $ 14,963,975 $ 1,596,254 $ 13,367,721 Classification
Compensated Absences
The long-term portion of compensated absences payable has been accrued for the Governmental Activities on the Government-Wide Financial Statements. The General Fund has typically been used to liquidate the liability for the governmental activities.

Financed Purchases
The City has entered into agreements for the purchase of certain vehicles purchased under financing arrangements. Such financing require annual payments of principal and interest, with an interest rate of 3.25% to

6.90%, and will be fully amortized by the year 2025.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
65 Note 6 – Long-Term Liabilities
A. Governmental Activities (Continued)
Financed Purchases (Continued)
Future annual debt service payments under the financing arrangements at June 30, 2023 are as follows:

Year ending
June 30, Principal Interest Total
2024 32,091 $ 2,931 $ 35,022 $
2025 12,164 815 12,979
Total 44,255 $ 3,746 $ 48,001 $
Pension Obligation Bonds
On November 4, 2021, the City issued the 2021 Pension Obligation Bonds to pay a portion of the City’s unamortized, unfunded accrued actuarial liability to the California Public Employees’ Retirement System (“CalPERS”) and to pay the costs of issuing the bonds. Interest is paid semiannually on June 1 and December 1 of each year, commencing June 1, 2022, until 2030. Interest rates range between 0.565% to 2.519%. Principal payments range from $1,370,000 to $1,565,000 beginning on June 1, 2023. The liability was allocated between the governmental activities and business-type activities.

Future debt service requirements for the governmental activities and business-type activities on the bonds at June 30, 2023, are as follows:

Year ending
June 30, Principal Interest Total Principal Interest Total 2024 1,228,533 $ 314,295 $ 1,542,828 $ 181,467 $ 46,424 $ 227,891 $ 2025 1,241,603 302,304 1,543,907 183,397 44,653 228,050 2026 1,259,029 285,518 1,544,547 185,971 42,174 228,145 2027 1,276,454 264,718 1,541,172 188,546 39,102 227,648 2028 1,302,594 240,147 1,542,741 192,406 35,472 227,878 2029-2033 5,049,183 774,175 5,823,358 745,817 114,354 860,171 2034-2038 2,579,048 197,026 2,776,074 380,952 29,103 410,055 Total 13,936,444 $ 2,378,183 $ 16,314,627 $ 2,058,556 $ 351,282 $ 2,409,838 $ Year ending
June 30, Principal Interest Total
2024 1,410,000 $ $ 360,719 $ 1,770,719
2025 1,425,000 346,957 1,771,957
2026 1,445,000 327,692 1,772,692
2027 1,465,000 303,820 1,768,820
2028 1,495,000 275,619 1,770,619
2029-2033 5,795,000 888,529 6,683,529
2034-2038 2,960,000 226,129 3,186,129
Total 15,995,000 $ $ 2,729,465 $ 18,724,465
Total
Governmental Activities Business-Activities
Water Enterprise Fund
City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
66 Note 6 – Long-Term Liabilities (Continued)
A. Governmental Activities (Continued)
Lease Payable
The City has entered into various leases for vehicle uses. The terms of the agreements are 60 months with discount rate of 5.67% based on the average of the interest rates in the financing agreements. Principal and interest to maturity are as follows:

Year ending
June 30, Principal Interest Total
2024 80,987 $ 17,757 $ 98,744 $
2025 85,409 13,335 98,744
2026 90,072 8,672 98,744
2027 68,751 3,752 72,503
Total 325,219 $ 43,516 $ 368,735 $
B. Business-Type Activities
The summary of changes in the long-term liabilities for the business-type activities for the year ended June 30, 2023 is as follows:

Balance
July 1, 2022 Balance Due within Due in more
(As Restated) Additions Deletions June 30, 2023 One Year than One Year Compensated absences $ 72,386 $ 65,277 $ (53,048) $ 84,615 $ 14,839 $ 69,776 Direct Borrowing:

Note payable - IBank 10,236,115 (327,075) - 9,909,040 337,449 9,571,591 Financed purchases 38,581 (18,655) - 19,926 19,926 -
Public Offering:

Pension Obligation Bonds 2,234,875 (176,319) - 2,058,556 181,467 1,877,089 Bond discount (25,724) - 1,608 (24,116) (1,608) (22,508) Lease payable 40,090 - (8,892) 31,198 7,190 24,008
Total $ 12,556,233 $ 105,367 $ (582,381) $ 12,079,219 $ 559,263 $ 11,519,956 Classification
Compensated Absences
The long-term portion of compensated absences payable has been accrued for the Business-type Activities on the Government-Wide Financial Statements and Proprietary Fund Financial Statements.

Note Payable – California Infrastructure and Economic Development Bank (“IBank”) In May 2010, an agreement was made between the California Infrastructure and Economic Development Bank (“IBank”) and the City for a loan of $5,500,000 under the Bergeson-Peace Infrastructure and Economic Development Bank Act. The purpose of the loan is to construct a water well and other water treatment facilities.

The loan is to be repaid by August 2039, over 30 years at 3.31% annual interest. The City has pledged net system revenues of the Water Fund to the repayment of the note. A net system surplus of $1,579,645 was reported for the current year. During the year ended June 30, 2023, interest of $129,394 and principal of $165,782 were paid leaving an outstanding balance of $3,826,306.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
67 Note 6 – Long-Term Liabilities (Continued)
B. Business-Type Activities (Continued)
Note Payable – California Infrastructure and Economic Development Bank (“IBank”) (Continued) For the 2010 loan, the City may at any time request IBank to prepay all or a portion of the principal component of the purchase price. The City must provide IBank with its prepayment request in writing and at least sixty (60) days prior to the requested prepayment or reduction date.

In May 2018, another agreement was made between the IBank and the City for a loan of $6,700,000 under the Infrastructure State Revolving Fund Program. The purpose of the loan is to construct a water well and other water treatment facilities. The loan is to be repaid by August 2047, over 30 years at 3.03% annual interest. The City has pledged net system revenues of the Water Fund to the repayment of the note. A net system surplus of $1,579,645 was reported in the current year. During the year ended June 30, 2023, interest of $186,750 and principal of $161,293 were paid leaving an outstanding balance of $6,082,734.

For the 2018 loan, the City is not permitted to prepay all or a portion of the outstanding principal component of the purchase price during the prohibited prepayment period which commences with the effective date and ends with the date that is ten (10) years after the effective date. After the prohibited prepayment period, the City must provide IBank with its prepayment request in writing and at least ninety (90) days prior to the requested prepayment or reduction date.

Future debt service requirements on long-term debt at June 30, 2023, are as follows:

Year ending
June 30, Principal Interest Total
2024 337,449 $ 305,605 $ 643,054 $
2025 348,154 294,731 642,885
2026 359,198 283,511 642,709
2027 370,594 271,934 642,528
2028 382,352 259,990 642,342
2029-2033 2,101,632 1,107,057 3,208,689
2034-2038 2,456,996 746,043 3,203,039
2039-2043 1,948,910 369,045 2,317,955
2044-2048 1,603,755 124,384 1,728,139
Total 9,909,040 $ 3,762,300 $ 13,671,340 $
Financed Purchases
The City has entered into agreements for the purchase of vehicle under financing arrangements. Such financing require annual payments of principal and interest, with an interest rate of 6.90%, and will be fully paid off by the year 2024.

Future annual debt service payments under financed arranging at June 30, 2023 are as follows:

Year ending
June 30, Principal Interest Total
2024 $ 19,926 $ 1,358 $ 21,284
City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
68 Note 6 – Long-Term Liabilities (Continued)
B. Business-Type Activities (Continued)
Pension Obligation Bonds
See Note 6A for disclosure.

Lease Payable
The City has entered into a lease for vehicle uses. The terms of the agreement is 60 months with discount rate of

5.67% based on the average of the interest rates in the financing agreements. Principal and interest to maturity are as follows:

Year ending
June 30, Principal Interest Total
2024 $ 7,190 $ 1,702 $ 8,892
2025 7,581 1,311 8,892
2026 7,995 897 8,892
2027 8,432 460 8,892
Total $ 31,198 $ 4,370 $ 35,568
C. Fiduciary Activities
The summary of changes in the long-term liabilities for the fiduciary activities for the year ended June 30, 2023 is as follows:

Balance Balance Due within Due in more
July 1, 2022 Additions Deletions June 30, 2023 One Year than One Year Public Offering:
1998 Tax Allocation Refunding Bonds 11,325,733 $ 614,032 $ - $ 11,939,765 $ - $ 11,939,765 $ 2010 Tax Allocation Bonds 6,450,000 (1,250,000) 5,200,000 1,315,000 3,885,000 Unamoritzed discount (43,789) - 8,614 (35,175) (8,614) (26,561) 2015 Tax Allocation Refunding Bonds 6,800,000 (3,315,000) 3,485,000 3,485,000 - Unamortized premium 374,638 - (345,818) 28,820 28,820 - Direct Borrowing:

Deferred pass through 930,740 - - 930,740 - 930,740
Total $ 614,032 25,837,322 $ (4,902,204) $ 21,549,150 $ 4,820,206 $ 16,728,944 $ Classification
1998 Tax Allocation Refunding Bonds
In February 1998, the Agency issued $3,122,050 of Tax Allocation Refunding Bonds to refund the 1993B Compound Interest Tax Allocation Bonds and provide additional funds in furtherance of the Redevelopment Plan.

The 1998 Bonds have a maturity value of $14,050,000 with all interest and principal payable at maturity. The bonds mature August 1, 2026 and are compounded annually at 5.35%. Accordingly, as of June 30, 2023, interest of $614,032 was added to the outstanding debt.

Future debt service requirement at June 30, 2023, is as follows:

Year ending Accreted
June 30, Principal Interest Total
2027 3,122,050 $ 8,817,715 $ $ 11,939,765
City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
69 Note 6 – Long-Term Liabilities (Continued)
C. Fiduciary Activities (Continued)
1998 Tax Allocation Refunding Bonds
At maturity, the bonds will have a value as follows:

Accreted
Principal Interest Total
$ 10,927,950 3,122,050 $ 14,050,000 $
Due Date
August 1, 2026
2010 Tax Allocation Bonds
In June 2010, the Paramount Redevelopment Agency issued $12,290,000 of 2010 Tax Allocation Bonds. The 2010 Tax Allocation Bonds consist of $8,430,000 of Series A Bonds with coupon rates ranging from 5.0% to

5.5% and $3,860,000 of Series B Taxable Bonds with coupon rates of 5.193% and 6.235%. The aggregate combined True Interest Cost (TIC) of the 2010 Bonds is 5.573%. Net Interest Cost (NIC) of the 2010 bonds is

5.498%. Interest is paid semi-annually on February 1 and August 1 of each year.

Future debt service requirements at June 30, 2023, are as follows:

Year ending
June 30, Principal Interest Total
2024 1,315,000 $ 240,391 $ 1,555,391 $
2025 1,075,000 178,475 1,253,475
2026 1,125,000 120,725 1,245,725
2027 1,185,000 45,597 1,230,597
2028 500,000 27,500 527,500
Total 5,200,000 $ 612,688 $ 5,812,688 $
2015 Tax Allocation Refunding Bonds
In June 2015, the Successor Agency issued $23,665,000 of 2015 Tax allocation Refunding Bonds to current refund the 2003 Tax Allocation Refunding Bonds. The 2015 Tax Allocation Refunding Bonds consist of $23,665,000 of Serial Bonds with coupon rates ranging from 2% to 5%. Interest is paid semi-annually on February 1 and August 1 of each year and the annual debt service payments are kept at approximately $3,650,000.

As of June 30, 2023, the outstanding balance was $3,485,000, the unamortized bond premium was $28,820 and the outstanding balance of the deferred loss and gain on refunding were in the amounts of $2,292 and $8,547, respectively.

Future debt service requirements at June 30, 2023, are as follows:

Year ending
June 30, Principal Interest Total
2024 3,485,000 $ $ 82,125 $ 3,567,125
Deferred Pass-Through-Los Angeles County
On June 4, 1991 the Paramount Redevelopment Agency entered into a tax sharing agreement with the County of Los Angeles. As part of that agreement, the County deferred receipt of its share of the annual tax increment revenue generated by Project Area #2 until July 1, 2031. As of June 30, 2023, the balance due is $930,740.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
70 Note 7 – Pension
A. General Information about the Pension Plan
Plan Description
The City contributes to the California Public Employees’ Retirement System (“CalPERS”), a cost-sharing multiple-employer defined benefit pension plan for both miscellaneous and safety employees. The safety plan was terminated during measurement period ended June 30, 2022. CalPERS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. CalPERS acts as a common investment and administrative agent for participating public entities within the State of California.

Benefit provisions and all other requirements are established by State statute and City ordinance. Copies of the CalPERS annual financial report may be obtained from https://www.calpers.ca.gov/page/forms-publications.

Employees Covered by Benefit Terms
At June 30, 2021, the following employees were covered by the benefit terms:

Miscellaneous Misc PEPRA Safety
Active employees 59 29 -
Transferred and terminated employees 57 9 -
Separated 29 6 -
Retired Employees and Beneficiaries 155 - 1
Total 300 44 1
Benefits Provided
CalPERS provide retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Classic and PEPRA Safety CalPERS member becomes eligible for service retirement upon attainment of age 55 with at least 5 years of credited service. PEPRA miscellaneous members become eligible for service retirement upon attainment of age 62 with at least 5 years of service. The service retirement benefit is a monthly allowance equal to the product of the benefit factor, years of service, and final compensation.

The final compensation is the monthly average of the member's highest 36 full-time equivalent monthly pay.

Following are the benefit provisions for each plan:

Miscellaneous Rate
Plan*
PEPRA
Miscellaneous Rate
Plan
Hire date Prior to July 1, 2002 January 1, 2013 and
after
Benefit formula 2.5% @ 55 2% @ 62
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age minimum 50 yrs minimum 52 yrs
Cost-Sharing Rate Plans
* Safety Plan was terminated during the measurement period and plan assets were merged with the City's Miscellaneous Plan as of June 27, 2022.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
71 Note 7 – Pension (Continued)
A. General Information about the Pension Plan (Continued) 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 Public agency cost-sharing plans covered by either the Safety risk pools, the Plan’s actuarially determined rate is based on the estimated amount necessary to pay the Plan’s allocated share of the risk pool’s costs of benefits earned by employees during the year, and any unfunded accrued liability. The employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. For the measurement period ended June 30, 2022 (the measurement date), the contribution rates were as follows.

Miscellaneous Rate
Plan
PEPRA
Miscellaneous Rate
Plan
Required employee contribution rates 8.000% 7.750%
Required employer contribution rates 13.300% 7.540%
Cost-sharing Rate Plans
B. Pension Liabilities, Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions
Actuarial Methods and Assumptions Used to Determine Total Pension Liability The June 30, 2021 valuation was rolled forward to determine June 30, 2022 total pension liability based on the following actuarial methods and assumptions:

Actuarial Cost Method
Actuarial Assumptions:

Discount Rate 6.90%
Inflation 2.30%
Salary Increases Varies by Entry Age and Service
Mortality Rate Table Derived using CalPERS’ Membership Data for all Funds.

Post Retirement Benefit Increase
1 The mortality table used was developed based on CalPERS-specific data. The probabilities of mortality are based on the 2021 CalPERS Experience Study for the period from 2001 to 2019. Pre-retirement and Post-retirement mortality rates include generational mortality improvement using 80% of Scale MP-2020 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 Novermber 2021 that can be found on the CalPERS website.

Entry Age Normal
Contract COLA up to 2.30% until Purchasing Power Protection Allowance Floor on Purchasing Power applies, 2.30% thereafter
Change of Assumption
Effective with the June 30, 2021 valuation date (2022 measurement date), the accounting discount rate was reduced from 7.15% to 6.90%. In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. Projected returns for all asset classes are estimated, combined with risk estimates, and are used to project compound (geometric) returns over the long term. The discount rate used to discount liabilities was informed by the long-term projected portfolio return. In addition, demographic assumptions and the inflation rate assumption were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
72 Note 7 – Pension (Continued)
B. Pension Liabilities, Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions (Continued)
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.

In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations. Using historical returns of all of the funds’ asset classes, expected compound (geometric) returns were calculated over the next 20 years using a building-block approach. The expected rate of return was then adjusted to account for assumed administrative expenses of 10 basis points. The expected real rates of return by asset class are as follows:

Assumed Asset
Asset Class1 Allocation Real Return 1, 2
Global Equity - Cap-weighted 30.00% 4.54%
Global Equity - Non-cap-weighted 12.00% 3.84%
Private Equity 13.00% 7.28%
Treasury 5.00% 0.27%
Mortgage-backed Securities 5.00% 0.50%
Investment Grade Corporates 10.00% 1.56%
High Yield 5.00% 2.27%
Emerging Market Debt 5.00% 2.48%
Private Debt 5.00% 3.57%
Real Assets 15.00% 3.21%
Leverage -5.00% -0.59%
100.0%
1 An expected inflation of 2.30% used for this period.
2 Figures are based on the 2021 Asset Liability Management study.

Discount Rate
The discount rate used to measure the total pension liability was 6.90%. 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.

Liquidating Net Pension Liability
The pension liabilities are liquidated principally by all the funds.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
73 Note 7 – Pension (Continued)
B. Pension Liabilities, Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions (Continued)
Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the plans as of the measurement date, calculated using the discount rate of 6.90%, as well as what the net pension liability would be if it were calculated using a discount rate that is 1 percentage-point lower (5.90%) or 1 percentage-point higher (7.90%) than the current rate:

Discount Rate Current Discount Discount Rate
- 1% (5.90%) Rate (6.90%) + 1% (7.90%)
Miscellaneous $ 11,578,120 26,303,132 $ (536,910) $
Plan's Net Pension Liability/(Asset)
Pension Plan Fiduciary Net Position
Detail information about the plan’s fiduciary net position is available in the separately issued CalPERS financial report and can be obtained from CalPERS’ website under Forms and Publications.

Proportionate Share of Net Pension Liability and Pension Expense The following table shows the plan’s proportionate share of the risk pool collective net pension liability over the measurement period:

The following is the approach established by the plan actuary to allocate the net pension liability and pension expense to the individual employers within the risk pool. (1) In determining a cost-sharing plan’s proportionate share, total amounts of liabilities and assets are first calculated for the risk pool as a whole on the valuation date (June 30, 2021). The risk pool’s fiduciary net position (“FNP”) subtracted from its total pension liability (“TPL”) determines the net pension liability (“NPL”) at the valuation date.
(2) Using standard actuarial roll forward methods, the risk pool TPL is then computed at the measurement date (June 30, 2022). Risk pool FNP at the measurement date is then subtracted from this number to compute the NPL for the risk pool at the measurement date. For purposes of FNP in this step and any later reference thereto, the risk pool’s FNP at the measurement date denotes the aggregate risk pool’s FNP at June 30, 2022 less the sum of all additional side fund (or unfunded liability) contributions made by all employers during the measurement period (2021-22). (3) The individual plan’s TPL, FNP and NPL are also calculated at the valuation date. TPL is allocated based on the rate plan’s share of the actuarial accrued liability. FNP is allocated based on the rate plan’s share of fair value assets.
(4) Two ratios are created by dividing the plan’s individual TPL and FNP as of the valuation date from (3) by the amounts in step (1), the risk pool’s total TPL and FNP, respectively. (5) The plan’s TPL as of the measurement date is equal to the risk pool TPL generated in (2) multiplied by the TPL ratio generated in (4). The plan’s FNP as of the measurement date is equal to the FNP generated in (2) multiplied by the FNP ratio generated in (4) plus any additional side fund (or unfunded liability) contributions made by the employer on behalf of the plan during the measurement period. (6) The plan’s NPL at the measurement date is the difference between the TPL and FNP calculated in (5).

Deferred outflows of resources, deferred inflows of resources, and pension expense are allocated based on the City’s share of net pension liability at the end of measurement date.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
74 Note 7 – Pension (Continued)
B. Pension Liabilities, Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions (Continued)
Proportionate Share of Net Pension Liability and Pension Expense (Continued) The City’s proportionate share of the net pension liability was as follows:

Miscellaneous
June 30, 2021 0.23064%
June 30, 2022 0.10024%
Change - Increase (Decrease) -0.13040%
Deferred outflows of resources, deferred inflows of resources, and pension expense is allocate based on the City’s share of net pension liability during measurement period.

The following table shows the City’s proportionate share of the risk pool collective net pension liability over the measure period:

Plan Total Pension Plan Fiduciary Net Net Pension
Liability Position Liability/(Asset)
Miscellaneous
Balance at: 6/30/21 (Valuation date) 100,968,938 $ 88,495,280 $ 12,473,658 $ Balance at: 6/30/22 (Measurement date) 108,019,543 96,441,423 11,578,120 Net Changes during 2021-22 7,050,605 7,946,143 (895,538) Increase (Decrease)
For the year ended June 30, 2023, the City recognized aggregated pension expense in the amount of $10,048,974.

At June 30, 2023, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred outflows Deferred inflows
of Resources of Resources
Pension contribution after measurement date 1,541,647 $ - $ Change of assumptions 1,186,422 -
Difference between expected and actual experience 232,510 (155,727) Difference between projected and actual earning on
pension plan investments 2,120,808 -
Adjustment due to differences in proportions - (16,357,859) Difference between City contributions and
proportionate share of contributions 9,145,604 -
Total 14,226,991 $ (16,513,586) $
Miscellaneous
City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
75 Note 7 – Pension (Continued)
B. Pension Liabilities, Pension Expenses, and Deferred Outflows of Resources 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) in the risk pool. The EARSL for risk pool for the 2021-2022 measurement period is 3.7 years, which was obtained by dividing the total service years of 574,665 (the sum of remaining service lifetimes of the active employees) by 153,587 (the total number of participants: active, inactive, and retired).

The $1,541,647 reported as deferred outflows of resources related to pensions resulting from the City’s contributions made subsequent to the measurement date will be recognized as a reduction of the collective net pension liability in the year ending June 30, 2024.

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

Measurement
Period
Deferred
Outflows/(Inflows)
of Resources
Ending June 30, Miscellaneous
2023 (2,052,462) $
2024 (1,807,094)
2025 (1,265,846)
2026 1,297,160
2027 -
Thereafter -
$ (3,828,242)
Note 8 – Other Postemployment Benefits (“OPEB”)
A. Information About the OPEB Plan
Plan Description and Benefits Provided
The City provides an agent multiple-employer defined benefit healthcare plan and pays certain post-retirement health insurance premium payments on behalf of qualifying retired employees and their eligible dependents or survivors. The CalPERS Board of Administration has sole and exclusive control and power over the administration and investment of the plan (sometimes also referred to as CERBT). The City pays 100% of the cost of retiree health benefits for those employees who retired prior to January 1, 2011 and 85% for those who retired subsequent to December 31, 2010. CalPERS is responsible for administering the benefits for the retirees. Copies of the CalPERS' annual financial report may be obtained from the CalPERS website.

Employees Covered by Benefit Term at Measurement Date of June 30, 2022 Active employees 93
Inactive currently receiving benefit 62
Inactive entitled to but not yet receiving benefit payments 11 Total 166
City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
76 Note 8 – Other Postemployment Benefits (“OPEB”) (Continued) A. Information About the OPEB Plan (Continued)
Contributions
The annual contribution is based on the actuarially determined contribution. For the fiscal year ended June 30, 2023, the City’s cash contributions to the plan including the implied subsidy were $1,616,000. The general fund, in the governmental activities and the water enterprise funds are the primary funds used to liquidate the OPEB liabilities.

B. Net OPEB Liability
Actuarial Assumptions
The total OPEB liability in the June 30, 2022 actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement, unless otherwise specified:

Contribution policy
Discount rate
Expected long-term rate of return on investments
Global inflation 2.50% per annually
Mortality/retirement/disability/termination rate
Mortality improvement
Salary increases
Healthcare cost trend rates
Healthcare participation for future retirees
Medicare (Kaiser) - 4.6% for 2023, decreasing to ultimate rate of

3.75% in 2076 and later years
50% if currently waived
100% if currently covered
CalPERS 2000-2019 Experience Study
Mortality projected fully generational with Scale MP-2021 Phase-in of full pre-funding: full ADC in 2027/28, 100% paid in 2020/21, 2021/22 and 2022/23
Expected City contributions projected to keep sufficient plan assets to pay all benefits from trust
Merit - Tables from CalPERS 2000-2019 Experience Study
Non-Medicare - 6.50% for 2023, decreasing to ultimate rate of 3.75% in 2076 and later years
Medicare (Non-Kaiser) - 5.65% for 2023, decreasing to ultimate rate of 3.75% in 2076 and later years
Aggregate - 2.75% per annum

6.25% at June 30, 2022

6.25% at June 30, 2021
Change in Assumptions
In 2022, there were no changes in assumptions.

Discount Rate
The discount rate used to measure the total OPEB liability was 6.05%. The projection of cash flows used to determine the discount rate assumed that City 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.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
77 Note 8 – Other Postemployment Benefits (“OPEB”) (Continued) B. Net OPEB Liability (Continued)
Expected Long-Term Rates of Return
Asset Class Component
Target Allocation
CERBT-Strategy 1
Expected Real
Rate of Return*
Global Equity 49.00% 4.54%
Fixed Income 23.00% 3.84%
TIPS 5.00% 7.28%
Commodities 3.00% 0.27%
REITs 20.00% 0.50%
100.0%
* The long-term expected real rates of return are presented as geometric means.

Liquidating OPEB Liability
The OPEB liabilities are liquidated principally by the General Fund and Water Enterprise Fund.

C. Changes in Net OPEB Liability
The following presents the changes in the net OPEB liability:

Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability
Balances as of June 30, 2021 14,400,273 $ 8,171,484 $ 6,228,789 $ Changes during the measurement period:

Service cost 374,669 - 374,669
Interest 901,174 - 901,174
Benefit changes - - -
Actual vs. expected experience - - -
Assumption changes - - -
Employer contribution - 1,517,000 (1,517,000)
Net investment income (1,099,472) 1,099,472
Benefit payments (712,314) (712,314) -
Administrative expenses - (2,070) 2,070
Net changes during measurement period 2021-22 563,529 (296,856) 860,385 Balances as of June 30, 2022 (Measurement Date) 14,963,802 $ 7,874,628 $ 7,089,174 $ Sensitivity of the Net OPEB Liability to Changes in the Discount Rate The net OPEB liability of the City, as well as what the City's net OPEB liability would be if it were calculated using a discount rate that is one percentage point lower (5.25%) or one percentage point higher (7.25%) follows:

Discount Rate Current Discount Discount Rate
- 1% (5.25%) Rate (6.25%) + 1% (7.25%)
$ 7,089,174 8,946,743 $ 5,540,797 $
Net OPEB Liability
City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
78 Note 8 – Other Postemployment Benefits (“OPEB”) (Continued) C. Changes in Net OPEB Liability (Continued)
Sensitivity of the Net OPEB Liability to Changes in the Healthcare Cost Trend Rates The net OPEB liability of the City, as well as what the City's net OPEB liability would be if it were calculated using healthcare cost trend rates that are one percentage point lower or one percentage point higher than current healthcare cost trend rates follows:

Healthcare
1% Decrease Cost Trend Rate 1% Increase
$ 7,089,174 5,240,800 $ 9,349,078 $
Net OPEB Liability
D. OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the measurement period ended June 30, 2022, the City recognized OPEB expense of $184,040. At June 30, 2023, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Deferred outflows Deferred inflows
of resources of resources
OPEB contribution after measurement date $ 1,616,000 $ - Changes of assumptions - (624,027)
Difference between expected and actual experience - (2,286,351) Difference between projected and actual earning on
OPEB plan investments 639,783 -
Total $ 2,255,783 $ (2,910,378)
The $1,616,000 reported as deferred outflows of resources related to contributions subsequent to the June 30, 2022 measurement date will be recognized as a reduction of the net OPEB liability during the year ending June 30, 2024.

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

Measurement
Period Ending June
30,
Deferred
Inflows of
Resources
2023 (574,948) $
2024 (579,067)
2025 (610,050)
2026 (124,529)
2027 (382,001)
Thereafter -
$ (2,270,595)
City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
79 Note 9 – Deferred Compensation Plan
The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan is administered by the Employer Retirement LLC. It is available to all full-time employees and all part-time employees and permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or an unforeseeable emergency.

Beginning in fiscal year 1998, existing assets in the Plan have been deemed to be in a qualified custodial account. The Custodian holds the Plan's assets for the exclusive benefit of participants and beneficiaries. The Plan's assets are not the legal property of the City and are not subject to the claims of the City's general creditors nor can they be used by the City for any purpose other than the payment of benefits to employees participating in the Plan or their designated beneficiaries. Therefore, deferred compensation funds are not shown on the City's basic financial statements. The City did not make any contributions to the plan for the current fiscal year.

Note 10 – Liability, Workers’ Compensation, and Purchased Insurance The City is exposed to various risks of loss related to torts, theft of, damage to, and destruction of assets, errors and omissions, injuries to employees and natural disasters.

A. Description of Self-Insurance Pool Pursuant to Joint Powers Agreement (“CJPIA”) The City of is a member of the California Joint Powers Insurance Authority (the “CJPIA”). The CJPIA is composed of 124 California public entities and is organized under a joint powers agreement pursuant to California Government Code §6500 et seq. The purpose of the CJPIA is to arrange and administer programs for the pooling of self-insured losses, to purchase excess insurance or reinsurance, and to arrange for group purchased insurance for property and other lines of coverage. The CJPIA began covering claims of its members in 1978.

Each member government has an elected official as its representative on the Board of Directors. The Board operates through a nine member Executive Committee.

B. Primary Self-Insurance Programs of the CJPIA
Each member pays an annual contribution at the beginning of the coverage period. A retrospective adjustment is then conducted annually thereafter, for coverage years 2012-13 and prior. Coverage years 2013-14 and forward are not subject to routine annual retrospective adjustment. The total funding requirement for primary selfinsurance programs is based on an actuarial analysis. Costs are allocated to individual agencies based on payroll and claims history, relative to other members of the risk-sharing pool.

Primary Liability Program
Claims are pooled separately between police and general government exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $100,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $100,000 to $500,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the second layer. (4) Incurred costs from $500,000 to $50 million, are distributed based on the outcome of cost allocation within the first and second loss layers.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
80 Note 10 – Liability, Workers’ Compensation, and Purchased Insurance (Continued) B. Primary Self-Insurance Programs of the CJPIA (Continued) The overall coverage limit for each member, including all layers of coverage, is $50 million per occurrence.

Subsidence losses also have a $50 million per occurrence limit. The coverage structure is composed of a combination of pooled self-insurance, reinsurance, and excess insurance. Additional information concerning the coverage structure is available on the CJPIA’s website: https://cjpia.org/coverage/risk-sharing-pools/.

Primary Workers’ Compensation Program
Claims are pooled separately between public safety (police and fire) and general government exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $75,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $75,000 to $200,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the second layer. (4) Incurred costs from $200,000 to statutory limits are distributed based on the outcome of cost allocation within the first and second loss layers.

For 2022-23 the CJPIA’s pooled retention is $1 million per occurrence, with reinsurance to statutory limits under California Workers’ Compensation Law. Employer’s Liability losses are pooled among members to $1 million.

Coverage from $1 million to $5 million is purchased through reinsurance policies, and Employer’s Liability losses from $5 million to $10 million are pooled among members.

C. Purchased Insurance
Pollution Legal Liability Insurance
The City participates in the pollution legal liability insurance program which is available through the CJPIA. The policy covers sudden and gradual pollution of scheduled property, streets, and storm drains owned by the City.

Coverage is on a claims-made basis. There is a $250,000 deductible. The CJPIA has an aggregate limit of $20 million.

Property Insurance
The City of Paramount participates in the all-risk property protection program of the Authority. This insurance protection is underwritten by several insurance companies. City of Paramount property is currently insured according to a schedule of covered property submitted by the City of Paramount to the Authority. City of Paramount property currently has all-risk property insurance protection in the amount of $61,565,586. There is a $10,000 deductible per occurrence except for non-emergency vehicle insurance which has a $2,500 deductible.

Earthquake and Flood Insurance
The City of Paramount purchases earthquake and flood insurance on a portion of its property. The earthquake insurance is part of the property protection insurance program of the Authority. City of Paramount property currently has earthquake protection in the amount of $2,279,700. There is a deductible of 5% per unit of value with a minimum deductible of $100,000.

City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
81 Note 10 – Liability, Workers’ Compensation, and Purchased Insurance (Continued) C. Purchased Insurance (Continued)
Crime Insurance
The City purchases crime insurance coverage in the amount of $1,000,000 with a $2,500 deductible. The fidelity coverage is provided through the CJPIA.

Special Event Tenant User Liability Insurance
The City further protects against liability damages by requiring tenant users of certain property to purchase lowcost tenant user liability insurance for certain activities on agency property. The insurance premium is paid by the tenant user and is paid to the City according to a schedule. The City then pays for the insurance. The insurance is facilitated by the CJPIA.

D. Adequacy of Protection
During the past three fiscal years, none of the above programs of protection experienced settlements or judgments that exceeded pooled or insured coverage. There were also no significant reductions in pooled or insured liability coverage in 2022-23.

Note 11 – Net Investment in Capital Assets
The net investment in capital assets for the governmental activities, and business-type activities are calculated as follows:

Business-type
Activities
Governmental Water Enterprise
Activities Fund
Total capital assets, net 76,210,309 $ 27,304,795 $
Retention payable (76,182) (368,252)
Capital related debt (369,474) (9,960,164)
Net investment in capital assets 75,764,653 $ 16,976,379 $ City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
82 Note 12 – Fund Balance
The City’s governmental fund balances at June 30, 2023 are presented below:

Other Grant Nonmajor
General Special Revenue Governmental
Fund Fund Funds Total
Nonspendable:

Prepaid items 201,261 $ $ - $ 21,535 $ 222,796
Land held for resale 236,544 - - 236,544
Total nonspendable 437,805 - 21,535 459,340
Restricted:

Environmental concerns - 258,586 1,278,981 1,537,567
Public safety - 169,386 - 169,386
Housing programs - - 538,957 538,957
Housing programs - notes receivables - - 467,293 467,293 Housing programs - land held for resale - - 412,498 412,498 After school program - 15,506 515,102 530,608
Road maintenance - 1,161,869 - 1,161,869
Waste reduction - - 432,597 432,597
Air quality management - - 79,973 79,973
Disability access and education - - 56,811 56,811
Public transit - 6,307,243 - 6,307,243
Sewer maintenance - - 245,949 245,949
Public access - - 211,670 211,670
Parking Authority - land held for resale - - 535,000 535,000 Debt service 7,826 - - 7,826
Total restricted 7,826 443,478 12,243,943 12,695,247
Committed:

Operating 16,965,025 - 16,965,025 -
Economic uncertainty 3,393,005 - 3,393,005 -
Infrastructure 3,393,005 - 3,393,005 -
Community cultural services - - 660,304 660,304
Storm drains - - 538,499 538,499
General plan - - 583,087 583,087
Total committed 23,751,035 1,781,890 - 25,532,925
Assigned for:

Compensated absences 821,000 - - 821,000
Coronavirus related 8,101,318 - 8,101,318 -
Capital projects 8,600,600 - 8,600,600 -
Self insurance 800,000 - - 800,000
Special projects 527,620 - - 527,620
Retiree benefit obligation 2,514,500 - 2,514,500 -
Total assigned 21,365,038 - 21,365,038 -
Unassigned 1,637,546 - 1,637,546 -
Total fund balances $ 47,199,250 $ 443,478 $ 14,047,368 $ 61,690,096 City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
83 Note 13 – Individual Fund Disclosure
The following functions report expenditures in excess of appropriations for the year ended June 30, 2023.

Expenditure
in Excess of
Appropriation Expenditure Appropriation
General Fund
Public works 6,828,361 $ 7,344,297 $ (515,936) $
CDBG Special Revenue Fund
General government 43,850 52,139 (8,289)
CDBG Coronavirus Special Revenue Fund
Public safety 102,400 102,413 (13)
AB2766 Subvention Funds Special Revenue Fund
Capital outlay 362,000 442,967 (80,967)
Proposition A Transit Tax Special Revenue Fund
General government 67,400 84,920 (17,520)
Community development 18,900 20,221 (1,321)
Proposition C Transit Tax Special Revenue Fund
General government 74,500 83,014 (8,514)
Measure R Transit Tax Special Revenue Fund
Public works 12,300 25,938 (13,638)
Measure M Transit Tax Special Revenue Fund
General government 52,350 57,108 (4,758)
Service Assessments Special Revenue Fund
General government 3,700 9,126 (5,426)
Note 14 – Prior Period Adjustment
The beginning net position for Governmental Activities and Business-type Activities were restated as follows to report the issuance of pension obligation bonds allocated to Water Enterprise Fund:

Business-type
Activities
Governmental Water Enterprise
Activities Fund
Beginning net position, as previously reported $ 88,914,785 $ 19,550,388 Interest payable 4,117 (4,117)
Pension obligation bonds 2,234,875 (2,234,875)
Issuance discount (25,724) 25,724
Beginning net position, as restated $ 91,128,053 $ 17,337,120 City of Paramount
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
84 Note 15 - Subsequent Events
On December 19, 2023, the City entered into a lease financing agreement with Banc of America Public Capital Corp for a loan in the amount of $11,240,355. The purpose of the loan is to finance the cost for the new advanced water meters and related equipment for the Water Enterprise Fund. The annual principal payments are due on December 1, with final payment on December 1, 2043. Semi-annual interest are payable on June 1 and December 1 at annum rate of 4.859%.

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)
85 Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes 26,413,000 $ 28,956,000 $ 31,085,952 $ 2,129,952 $ Licenses and permits 722,000 1,072,000 1,734,089 662,089 Fines and penalties 743,500 993,500 1,240,041 246,541
Interest and use of property 554,250 693,250 734,628 41,378 Intergovernmental revenues 7,699,700 8,133,250 8,124,278 (8,972) Charges for services 418,900 1,041,500 1,244,677 203,177 Other revenues 1,270,000 1,309,000 2,474,942 1,165,942
Total revenues 42,198,500 37,821,350 46,638,607 4,440,107 EXPENDITURES:

Current:

General government 7,947,250 8,070,446 7,433,067 637,379 Community development 2,851,700 3,011,746 2,815,116 196,630 Public safety 13,261,750 5,733,301 4,884,234 849,067
Community services 3,121,200 3,261,426 2,889,342 372,084 Public works 6,701,000 6,828,361 7,344,297 (515,936)
Capital outlay
Streets, sidewalks and signals 137,500 1,811,600 1,266,339 545,261 Parks 2,067,700 1,917,250 630,875 1,286,375
Other 1,010,000 1,893,050 592,316 1,300,734
Debt service:

Principal 322,056 1,480,587 1,306,644 173,943
Interest 2,294 323,333 323,333 -
Total expenditures 37,422,450 34,331,100 29,485,563 4,845,537 Excess (deficiency) of revenues over expenditures 398,900 7,867,400 17,153,044 9,285,644 OTHER FINANCING SOURCES:

Issuance of debt - - 232,717 232,717
Total other financing sources - - 232,717 232,717
Net change in fund balances $ 7,867,400 398,900 $ 17,385,761 9,518,361 $ FUND BALANCES:

Beginning of year 29,813,489
End of year $ 47,199,250
For the Year Ended June 30, 2023
Budgeted Amounts
City of Paramount
Required Supplementary Information (Unaudited)
General Funds
Budgetary Comparison Schedule
86 Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 1,800 $ 10,000 $ 8,184 $ (1,816) $ Intergovernmental revenues 13,706,450 14,537,650 1,560,755 (12,976,895) Total revenues 14,547,650 13,708,250 1,568,939 (12,978,711) EXPENDITURES:

Current:

General government 200,000 200,000 - 200,000
Community development 110,000 110,000 35,689 74,311
Public safety 264,800 411,300 300,003 111,297
Public works 250,300 267,850 162,256 105,594
Capital outlay:

Streets, sidewalks and signals 9,845,450 10,693,300 822,398 9,870,902 Parks 3,039,200 2,904,200 255,407 2,648,793
Total expenditures 14,586,650 13,709,750 1,575,753 13,010,897 Net change in fund balance $ (39,000) (1,500) $ (6,814) 32,186 $ FUND BALANCES:

Beginning of year 450,292
End of year $ 443,478
City of Paramount
Required Supplementary Information (Unaudited)
Other Grants Special Revenue Funds
For the Year Ended June 30, 2023
Budgeted Amounts
Budgetary Comparison Schedule (Continued)
87 Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 30,000 $ 318,000 $ - $ (318,000) $ Intergovernmental revenues 4,031,500 11,718,750 9,794,053 (1,924,697) Total revenues 12,036,750 4,061,500 9,794,053 (2,242,697) EXPENDITURES:

Current:

General government 10,000 110,000 66,241 43,759
Community development 930,000 1,212,000 736,667 475,333 Public safety 1,000,000 8,524,900 8,312,896 212,004
Public works 100,000 340,300 90,229 250,071
Capital outlay
Parks 920,000 2,410,350 588,020 1,822,330
Other 200,000 2,522,400 - 2,522,400
Total expenditures 15,119,950 3,160,000 9,794,053 5,325,897 Net change in fund balance $ (3,083,200) 901,500 $ - 3,083,200 $ FUND BALANCES:

Beginning of year -
End of year $ -
City of Paramount
Required Supplementary Information (Unaudited)
American Rescue Plan Act Special Revenue Funds
For the Year Ended June 30, 2023
Budgeted Amounts
Budgetary Comparison Schedule (Continued)
88 Budgetary Information

1. An annual budget for governmental and proprietary funds is adopted by the City Council to provide guidance for the general operation of the City. Such budgets include estimated revenues and authorized appropriations for all governmental and proprietary funds, except for the Paramount Parking Authority fund. The annual budget is generally adopted in summary form by City Council resolution in June of each year. The resolution sets a combined appropriation of all funds for the operation of the component units.

2. The level of budgetary control over appropriations is at the activity level (i.e., general government, community development, public safety, community service, and public works). The City Manager may transfer appropriations within an activity, and he may transfer appropriations within a fund without City Council approval, provided the total appropriation at the activity level and the fund level does not change. Budgetary changes, including supplemental appropriations or appropriation reductions, are made by the City Council during the fiscal year or at a midyear budget review. Expenditures may not exceed budgeted appropriations at the activity level.

3. The budget is formally integrated into the accounting system and employed as a management control device during the year for all funds. There is no adopted budget for Parking Authority Capital Projects Funds.

4. Budgets for the governmental fund types are adopted on a basis consistent with generally accepted accounting principles ("GAAP"). The modified accrual basis of accounting is employed in the preparation of the budget. Unencumbered budget appropriations lapse at the end of the fiscal year.

5. Under the California Constitution Article XIIIB (commonly referred to as the Gann Appropriations Limitation), the City is restricted as to the amount of its annual appropriations. If proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller or refunded to the taxpayers through revised tax rates or revised fee schedules. For the fiscal year ending June 30, 2023, appropriations subject to this limit were below the maximum allowed.

The City follows these procedures in establishing the budgetary data reflected in the financial statements:

City of Paramount
Required Supplementary Information (Unaudited)
Notes to the Budgetary Comparison Schedules
For the Year Ended June 30, 2023
89 Measurement Date June 30, 2022 June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 Plan's proportion of the net pension liability/(asset) 0.10024% 0.23064% 0.22039% 0.23350% 0.22167% Plan's proportionate share of the net pension $ 11,578,120 $ 12,473,659 $ 23,984,002 $ 23,926,634 $ 21,361,148 liability/(asset)
Plan's covered payroll $ 7,135,558 $ 6,860,335 $ 6,727,793 $ 6,657,324 $ 6,387,917 Plan's proportionate share of the net pension
liability/(asset) as a percentage of its covered payroll 162.26% 181.82% 356.49% 359.40% 334.40% Plan's fiduciary net position as a percentage of
the plan's total pension liability 89.28% 88.30% 77.71% 77.73% 75.26% California Public Employees' Retirement System ("CalPERS") 1 Historical information is presented after GASB 68 was implemented for measurement period 2013-14. Additional years of information will be displayed as it becomes available.

City of Paramount
Required Supplementary Information (Unaudited)
Schedule of the City's Proportionate Share of the Net Pension Liability For the Year Ended June 30, 2023
Last Ten Fiscal Years
90 Measurement Date June 30, 2017 June 30, 2016 June 30, 2015 June 30, 20141 Plan's proportion of the net pension liability/(asset) 0.23087% 0.23126% 0.23388% 0.19059% Plan's proportionate share of the net pension $ 22,896,454 $ 20,010,860 $ 16,053,473 $ 11,859,567 liability/(asset)
Plan's covered payroll $ 6,190,935 $ 6,206,549 $ 6,029,967 $ 6,334,225 Plan's proportionate share of the net pension
liability/(asset) as a percentage of its covered payroll 369.84% 322.42% 266.23% 187.23% Plan's fiduciary net position as a percentage of
the plan's total pension liability 73.31% 74.06% 78.40% 79.82% Last Ten Fiscal Years
California Public Employees' Retirement System ("CalPERS") City of Paramount
Required Supplementary Information (Unaudited)
Schedule of the City's Proportionate Share of the Net Pension Liability (Continued) For the Year Ended June 30, 2023
91 Fiscal year 2022-23 2021-22 2020-21 2019-20 2018-19
Actuarially Determined Contribution $ 1,541,647 $ 17,772,296 $ 2,644,674 $ 2,386,867 $ 2,094,439 Contribution in Relation to the
Actuarially Determined Contribution (1,541,647) (17,772,296) (3,241,174) (2,886,867) (2,094,439) Contribution Deficiency (Excess) $ - $ (596,500) - $ $ (500,000) $ - Covered Payroll1 $ 7,135,558 7,331,786 $ 6,860,335 $ 6,727,793 $ 6,657,324 $ Contributions as a Percentage
of Covered Payroll 21.027% 249.067% 47.245% 42.910% 31.461% Change in Benefit Terms: There were no changes in benefit terms.

N/A - Not applicable
Changes of Assumptions: Effective with the June 30, 2021 valuation date (2022 measurement date), the accounting discount rate was reduced from

7.15% to 6.90%. In 2021, 2020 and 2019, there were no changes in assumptions. In 2018, demographic assumptions and inflation rate were changed in accordance to the CalPERS Experience Study and Review of Actuarial Assumptions December 2017. There were no changes in the discount rate. In 2017, the accounting discount rate reduced from 7.65 percent to 7.15 percent. In 2016, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense.) In 2014, amounts reported were based on the 7.5 percent discount rate.

City of Paramount
Required Supplementary Information (Unaudited)
Schedule of Contributions - Pensions
For the Year Ended June 30, 2023
Last Ten Fiscal Years
1 Includes one year’s payroll growth using 2.75 percent payroll assumption from fiscal year 2022 to 2023.

Notes to Schedule:

California Public Employees' Retirement System ("CalPERS") 92 Fiscal year 2017-18 2016-17 2015-16 2014-15 2013-14
Actuarially Determined Contribution $ 1,764,757 $ 1,552,328 $ 1,402,641 $ 1,225,048 $ 1,105,990 Contribution in Relation to the
Actuarially Determined Contribution (2,644,757) (1,552,328) (1,402,641) (1,225,048) (1,105,990) Contribution Deficiency (Excess) $ (880,000) $ - $ - $ - $ - Covered Payroll $ 6,387,917 $ 6,190,935 $ 6,206,549 $ 6,029,967 $ 6,227,773 Contributions as a Percentage
of Covered Payroll 41.402% 25.074% 22.599% 20.316% 17.759% California Public Employees' Retirement System ("CalPERS") City of Paramount
Required Supplementary Information (Unaudited)
Schedule of Contributions - Pensions (Continued)
For the Year Ended June 30, 2023
Last Ten Fiscal Years
93 Measurement period June 30, 2022 June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 Total OPEB liability
Service cost $ 374,669 $ 449,094 $ 443,371 $ 463,518 $ 450,017 Interest 901,174 1,099,400 1,057,467 1,116,530 1,045,580 Differences between expected and actual experience (2,087,489) - (1,821,464) - - Changes of assumption (586,548) - (287,656) (97,284) -
Benefit payments (712,314) (625,003) (570,330) (462,020) (453,910) Net change in total OPEB liability 563,529 (1,750,546) 642,852 (800,720) 1,041,687 Total OPEB liability, beginning 14,400,273 16,150,819 15,507,967 16,308,687 15,267,000 Total OPEB liability, ending (a) $ 14,400,273 14,963,802 $ 16,150,819 $ 15,507,967 $ 16,308,687 $ OPEB fiduciary net position
Contributions - employer 1,517,000 $ 1,472,000 $ 1,219,000 $ 1,102,000 $ 1,013,000 $ Net investment income (1,099,472) 1,579,124 178,197 251,956 258,903 Benefit payments, including refunds
of employee contributions (712,314) (625,003) (570,330) (462,020) (453,910) Administrative expenses (2,070) (2,177) (2,411) (866) (5,979) Net change in plan fiduciary net position 2,423,944 (296,856) 824,456 891,070 812,014 Plan fiduciary net position, beginning 5,747,540 8,171,484 4,923,084 4,032,014 3,220,000 Plan fiduciary net position, ending (b) $ 8,171,484 7,874,628 $ 5,747,540 $ 4,923,084 $ 4,032,014 $ Plan net OPEB liability - ending (a) - (b) $ 6,228,789 7,089,174 $ 10,403,279 $ 10,584,883 $ 12,276,673 $ Plan's fiduciary net position as a percentage
of the total OPEB liability 52.62% 56.75% 35.59% 31.75% 24.72% Covered-employee payroll $ 6,548,566 7,082,429 $ 6,727,793 $ 7,069,939 $ 6,679,479 $ Total OPEB liability as a percentage of coveredemployee payroll 211.28% 95.12% 154.63% 149.72% 183.80% 1 Historical information is presented after GASB 75 was implemented for measurement period 2016-2017. Additional years of information will be displayed as it becomes available.

City of Paramount
Required Supplementary Information (Unaudited)
Schedule of Changes in Net Other Postemployment Benefits Liability and Related Ratios For the Year Ended June 30, 2023
Last Ten Fiscal Years
Other Postemployment Benefits ("OPEB")
94 Measurement period June 30, 20171
Total OPEB liability
Service cost $ 437,000
Interest 978,000
Differences between expected and actual experience -
Changes of assumption -
Benefit payments (432,000)
Net change in total OPEB liability 983,000
Total OPEB liability, beginning 14,284,000
Total OPEB liability, ending (a) $ 15,267,000
OPEB fiduciary net position
Contributions - employer $ 903,000
Net investment income 262,000
Benefit payments, including refunds
of employee contributions (432,000)
Administrative expenses (2,000)
Net change in plan fiduciary net position 731,000
Plan fiduciary net position, beginning 2,489,000
Plan fiduciary net position, ending (b) $ 3,220,000
Plan net OPEB liability - ending (a) - (b) $ 12,047,000 Plan's fiduciary net position as a percentage
of the total OPEB liability 21.09%
Covered-employee payroll $ 6,473,000
Total OPEB liability as a percentage of coveredemployee payroll 186.11% For the Year Ended June 30, 2023
Last Ten Fiscal Years
Other Postemployment Benefits ("OPEB")
City of Paramount
Required Supplementary Information (Unaudited)
Schedule of Changes in Net Other Postemployment Benefits Liability and Related Ratios (Continued) 95 Fiscal year end 2022-23 2021-22 2020-21 2019-20 2018-19 Actuarially determined contribution2 $ 1,517,000 1,183,000 $ 1,472,000 $ 1,613,000 $ 1,565,000 $ Contribution in relation to the actuarially
determined contribution (1,616,000) (1,517,000) (1,472,000) (1,219,000) (1,102,000) Contribution deficiency/(excess) (433,000) $ - $ - $ 394,000 $ 463,000 $ Covered-employee payroll 7,678,609 $ 7,082,429 $ 6,548,566 $ 6,727,793 $ 7,069,939 $ Contributions as a percentage of
covered-employee payroll 21.05% 21.42% 22.48% 18.12% 15.59% Actuarial Methods and Assumptions for 2022/23 Actuarially Determined Contibution:

Valuation Date June 30, 2021
Actuarial Cost Method Entry age normal, level % of pay
Amortozation Method Level % of pay
Amortization Period 10.7-year average period for 2022/23 Asset Valuation Method Investment gains and losses spread over 5-year rolling period Discount Rate 6.25%
General Inflation 2.50%
Medical Trend
Mortality CalPERS 2000-2019 Experience Study
Mortality Improvement Mortality projected fully generational with Scale MP-2021 Non-Medicare - 6.50% for 2023, decreasing to an ultimate rate of 3.75% in 2076 Medicare (Non-Kaiser) - 5.65% for 2023, decreasing to an ultimate rate of 3.75% in 2076 Medicare (Kaiser) - 4.60% for 2023, decreasing to an ultimate rate of 3.75% in 2076 City of Paramount
Required Supplementary Information (Unaudited)
Schedule of Contributions - Other Postemployment Benefits For the Year Ended June 30, 2023
Last Ten Fiscal Years
Other Postemployment Benefits ("OPEB")
1 Historical information is presented after GASB 75 was implemented for measurement period 2016-17. Additional years of information will be displayed as it becomes available.
96 Fiscal year end 2017-18 2016-171
Actuarially determined contribution2 $ 1,389,000 1,462,000 $ Contribution in relation to the actuarially
determined contribution (903,000) (1,013,000)
Contribution deficiency/(excess) $ 449,000 $ 486,000
Covered-employee payroll $ 6,679,479 $ 6,473,000
Contributions as a percentage of
covered-employee payroll 15.17% 13.95%
City of Paramount
Required Supplementary Information (Unaudited)
Schedule of Contributions - Other Postemployment Benefits (Continued) For the Year Ended June 30, 2023
Last Ten Fiscal Years
Other Postemployment Benefits ("OPEB")
97 This page intentionally left blank.
98 SUPPLEMENTARY INFORMATION
99 This page intentionally left blank.
100

NONMAJOR GOVERNMENTAL FUNDS
101
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102
Special Revenue Funds:

Community Development Block Grant (CDBG) Fund - To account for restricted revenues received under for Housing and Community Development Act through the Department of Housing and Urban Development.

Home Partnership Act Fund - To account for restricted revenues received under the HOME investments. Partnership Act through the Department of Housing and Urban Development.

Paramount Housing Authority - To account for restricted assets received from the former Paramount Redevelopment Agency as its affordable housing successor.

Community Development Block Grant Coronavirus Fund (CDBG-CV) - To account for restricted revenues received through the Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) of 2020 to be used to respond to COVID-19 pandemic.

After School Education and Safety Fund - To account for for restricted revenues received to be used in the establishment of local after school education enrichment programs.

State Gasoline Tax Fund - To account for restricted revenues received from the State of California to be used for street maintenance, right of way acquisition and street construction.

Traffic Safety Fund - To account for restricted revenues received from traffic fines to be used for traffic safety purposes.

Waste Reduction Fees Fund - To account for restricted revenue received through charges collected on refuse bills for the implementation of programs to reduce the flow of refuse going to landfills.

AB2766 Subvention Funds - To account for restricted revenue received through the South Coast Air Quality Management District to be used to reduce air pollution from motor vehicles and for costs associated with the implementation of the California Clean Air Act of 1988.

Disability Access and Education Fund - To account for restricted revenues received by requiring a $1 tax for any application for a local business license or equivalent license or permit. This revenue will be used to fund the expanded Certified Access Specialist Program require by this bill.

SB1 Road Maintenance & Rehabilitation Account (RMRA) - To account for restricted revenues received through the State of California to be used for road and street maintenance and rehabilitation.

Proposition A Transit Tax Fund - To account for restricted revenues received through the Los Angeles County Metropolitan Transportation Authority to be used to provide transportation services.

Proposition C Transit Tax Fund - To account for restricted revenues received through the Los Angeles County Metropolitan Transportation Authority to be used to provide transportation services.

Measure R Transit Tax Fund - To account for funds received through the Los Angeles County Metropolitan Transportation Authority restricted for transportation services and street construction, improvement, and maintenance.

Measure M Transit Tax Fund - To account for funds received through the Los Angeles County Metropolitan Transportation Authority restricted for transportation services and street construction, improvement, and maintenance.

Measure W Safe Clean Water Fund - To account for funds received through the Los Angeles County special parcel tax restricted for modernizing the water system to better protect the public health and the environment, and maximize a cleaner, locally controlled water supply.

City of Paramount
Nonmajor Governmental Funds
103
Special Revenue Funds (Continued):

Sewer Recontruction Fund - To account for restricted revenues from charges collected on construction permits to be used for the reconstruction of sewers.

Public Art Fees Fund - To account for fees committed for the acquisition and maintenance of public art.

Public Access Fees Fund - To account for fees restricted for the construction of public access facilities.

Storm Drain Fees Fund - To account for fees committed to be used for a storm drain master plan.

General Plan Fees Fund - To account for fees committed to be used for a general plan update master plan.

Service Assessments Fund - To account for committed revenues received from services provided to private properties through service assessments.

Capital Projects Fund:

Paramount Parking Authorty Fund - To account for acquisition and development of parking facilities in the City.

City of Paramount
Nonmajor Governmental Funds (Continued)
104
Community Paramount CDBG After School
Development HOME Housing Coronavirus Education
Block Grant Partnership Act Authority (CARES Act) & Safety ASSETS
Cash and investments $ - $ 399,000 - $ $ 557,123 - $
Restricted cash and investments - - - - -
Accounts receivable 59,458 53,237 10,400 232,082 -
Interest receivable - - - 3,526 -
Prepaid items - - - - -
Notes receivable, net 129,557 - 467,293 - -
Land held for resale - 412,498 - - -
Total assets $ 59,458 $ 182,794 $ 1,289,191 $ 232,082 $ 560,649

LIABILITIES AND FUND BALANCE
Liabilities:

Accounts payable 20,677 - 42,257 - 45,547
Retention payable - - - - -
Due to other funds 59,458 32,560 189,825 - -
Total liabilities 59,458 53,237 232,082 - 45,547
Fund Balances:

Nonspendable - - - - -
Restricted 129,557 - 1,289,191 515,102 -
Committed - - - - -
Total fund balances 129,557 - 1,289,191 515,102 -
Total liabilities and fund balances $ 59,458 $ 182,794 $ 1,289,191 $ 232,082 $ 560,649 (Continued)
Special Revenue Funds
Combining Balance Sheet
June 30, 2023
City of Paramount
Nonmajor Governmental Funds
105
Disability
State Gas Traffic Waste AB2766 Access and
Tax Safety Reduction Fees Subvention Education
ASSETS
Cash and investments 609,972 $ - $ 426,325 $ 62,078 $ 55,856 $ Restricted cash and investments - - - - -
Accounts receivable 117,573 5,547 6,549 17,502 601
Interest receivable 3,860 - 2,698 393 354
Prepaid items - - - - -
Notes receivable, net - - - - -
Land held for resale - - - - -
Total assets $ 5,547 731,405 $ 435,572 $ 79,973 $ 56,811 $

LIABILITIES AND FUND BALANCE
Liabilities:

Accounts payable 57,806 - 2,975 - -
Retention payable - - - - -
Due to other funds - 5,547 - - -
Total liabilities 5,547 57,806 2,975 - -
Fund Balances:

Nonspendable - - - - -
Restricted 673,599 - 432,597 79,973 56,811
Committed - - - - -
Total fund balances - 673,599 432,597 79,973 56,811
Total liabilities and fund balances $ 5,547 731,405 $ 435,572 $ 79,973 $ 56,811 $ (Continued)
Special Revenue Funds
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2023
City of Paramount
106
SB1 Road
Maint & Rehab Proposition A Proposition C Measure R Measure M (RMRA) Transit Tax Transit Tax Transit Tax Transit Tax
ASSETS
Cash and investments 1,297,155 $ 1,914,771 $ 1,581,276 $ 2,019,247 $ 1,355,496 $ Restricted cash and investments - - - - -
Accounts receivable 209,156 20 14,387 - -
Interest receivable 8,209 12,118 10,007 12,779 8,578
Prepaid items - 21,535 - - -
Notes receivable, net - - - - -
Land held for resale - - - - -
Total assets $ 1,948,444 1,514,520 $ 1,605,670 $ 2,032,026 $ 1,364,074 $

LIABILITIES AND FUND BALANCE
Liabilities:

Accounts payable 1,026,250 $ 165,980 $ 290,359 $ 84,095 $ 8,362 $ Retention payable - - 14,078 57,058 1,504
Due to other funds - - - - -
Total liabilities 165,980 1,026,250 304,437 141,153 9,866 Fund Balances:

Nonspendable - 21,535 - - -
Restricted 488,270 1,760,929 1,301,233 1,890,873 1,354,208 Committed - - - - -
Total fund balances 488,270 1,782,464 1,301,233 1,890,873 1,354,208 Total liabilities and fund balances $ 1,948,444 1,514,520 $ 1,605,670 $ 2,032,026 $ 1,364,074 $ (Continued)
June 30, 2023
Special Revenue Funds
City of Paramount
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
107
Measure W Sewer Public
Safe Clean Reconstruction Public Access Storm Drain
Water Fees Art Fees Fees Fees
ASSETS
Cash and investments $ 1,300,092 $ 244,403 $ 656,152 $ 200,185 $ 535,112 Restricted cash and investments - - - - -
Accounts receivable - - 10,218 - -
Interest receivable 8,228 1,546 4,152 1,267 3,387
Prepaid items - - - - -
Notes receivable, net - - - - -
Land held for resale - - - - -
Total assets $ 1,308,320 $ 245,949 $ 660,304 $ 211,670 $ 538,499

LIABILITIES AND FUND BALANCE
Liabilities:

Accounts payable 29,339 - - - -
Retention payable - - - - -
Due to other funds - - - - -
Total liabilities 29,339 - - - -
Fund Balances:

Nonspendable - - - - -
Restricted 1,278,981 245,949 211,670 - -
Committed - 660,304 - 538,499 -
Total fund balances 1,278,981 245,949 660,304 211,670 538,499 Total liabilities and fund balances $ 245,949 1,308,320 $ 660,304 $ 211,670 $ 538,499 $ (Continued)
Special Revenue Funds
City of Paramount
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2023
108
Capital
Total Projects Fund Total
General Special Paramount Nonmajor
Plan Service Revenue Parking Governmental
Fees Assessments Fund Authority Funds
ASSETS
Cash and investments 588,805 $ 1,802 $ 13,804,850 $ - $ 13,804,850 $ Restricted cash and investments - - - - -
Accounts receivable - - 736,730 - 736,730
Interest receivable 3,726 - 84,828 - 84,828
Prepaid items - - 21,535 - 21,535
Notes receivable, net - - 596,850 - 596,850
Land held for resale - - 412,498 535,000 947,498
Total assets $ 1,802 592,531 $ 15,657,291 $ 535,000 $ 16,192,291 $

LIABILITIES AND FUND BALANCE
Liabilities:

Accounts payable 9,444 $ 1,802 $ 1,784,893 $ - $ 1,784,893 $ Retention payable - - 72,640 - 72,640
Due to other funds - - 287,390 - 287,390
Total liabilities 1,802 9,444 2,144,923 - 2,144,923
Fund Balances:

Nonspendable - - 21,535 - 21,535
Restricted - - 11,708,943 535,000 12,243,943
Committed 583,087 - 1,781,890 - 1,781,890
Total fund balances 583,087 13,512,368 - 535,000 14,047,368 Total liabilities and fund balances $ 1,802 592,531 $ 15,657,291 $ 535,000 $ 16,192,291 $ (Concluded)
City of Paramount
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2023
Special Revenue Funds
109
Community Paramount CDBG After School
Development HOME Housing Coronavirus Education
Block Grant Partnership Act Authority (CARES Act) & Safety REVENUES:

Interest and use of property $ - $ - $ - $ 4,729 - $
Intergovernmental revenues 663,985 159,042 232,082 - 2,788,851 Charges for services - - - - -
Other revenue - 9,600 - - -
Total revenues 663,985 159,042 9,600 232,082 2,793,580
EXPENDITURES:

Current:

General government 52,139 22,705 - - -
Community development 90,230 129,007 813 129,669 -
Public safety 408,480 - 102,413 - -
Community services - - - 2,393,543 -
Public works 113,136 - - - -
Capital outlay:

Streets, sidewalks and signals - - - - -
Other - - - - -
Debt Service:

Principal - - - - -
Interest and fiscal charges - - - - -
Total expenditures 663,985 151,712 813 232,082 2,393,543 Excess (deficiency) of revenues
over expenditures 7,330 - - 8,787 400,037
OTHER FINANCING SOURCES:

Issuance of debt - - - - -
Total other financing sources - - - - -
Net change in fund balances 7,330 - 8,787 - 400,037
FUND BALANCES:

Beginning of year - 122,227 1,280,404 - 115,065
End of year $ 129,557 - $ 1,289,191 $ - $ 515,102 $
(Continued)
City of Paramount
For the Year Ended June 30, 2023
Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Special Revenue Funds
110
Disability
State Gas Traffic Waste AB2766 Access and
Tax Safety Reduction Fees Subvention Education
REVENUES:

Interest and use of property 9,445 $ - $ 8,095 $ 3,181 $ 938 $ Intergovernmental revenues 1,342,319 82,693 - 69,272 -
Charges for services - - 77,113 - 7,394
Other revenue - - - - -
Total revenues 82,693 1,351,764 85,208 72,453 8,332
EXPENDITURES:

Current:

General government - - - 5,757 -
Community development - - - - -
Public safety - - - - -
Community services - 82,693 - - -
Public works 1,133,322 - 110,308 108 -
Capital outlay:

Streets, sidewalks and signals - - - - -
Other - - - 442,967 -
Debt Service:

Principal - - - 42,099 -
Interest and fiscal charges - - - 5,026 -
Total expenditures 82,693 1,133,322 110,308 495,957 -
Excess (deficiency) of revenues
over expenditures 218,442 (25,100) - (423,504) 8,332
OTHER FINANCING SOURCES:

Issuance of debt - - 94,162 - -
Total other financing sources - - 94,162 - -
Net change in fund balances 218,442 (25,100) - (329,342) 8,332 FUND BALANCES:

Beginning of year 455,157 457,697 409,315 48,479 -
End of year $ - 673,599 $ 432,597 $ 79,973 $ 56,811 $
(Continued)
Special Revenue Funds
For the Year Ended June 30, 2023
City of Paramount
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds
111
SB1 Road
Maint & Rehab Proposition A Proposition C Measure R Measure M (RMRA) Transit Tax Transit Tax Transit Tax Transit Tax
REVENUES:

Interest and use of property 18,257 $ 30,092 $ 22,578 $ 27,794 $ 21,525 $ Intergovernmental revenues 1,193,607 1,450,915 1,203,493 902,359 1,020,762 Charges for services - 1,770 - - -
Other revenue - - 29,474 - -
Total revenues 1,482,777 1,211,864 1,255,545 930,153 1,042,287 EXPENDITURES:

Current:

General government - 84,920 83,014 7,261 57,108
Community development - 20,221 - - -
Public safety - 98,084 - - -
Community services - 641,119 - - -
Public works - 46,394 116,541 25,938 19,596
Capital outlay:

Streets, sidewalks and signals 2,278,174 - 1,213,558 223,053 560,248 Other - - - - -
Debt Service:

Principal - - - - -
Interest and fiscal charges - - - - -
Total expenditures 890,738 2,278,174 1,413,113 256,252 636,952 Excess (deficiency) of revenues
over expenditures 592,039 (1,066,310) (157,568) 673,901 405,335 OTHER FINANCING SOURCES:

Issuance of debt - - - - -
Total other financing sources - - - - -
Net change in fund balances (1,066,310) 592,039 (157,568) 673,901 405,335 FUND BALANCES:

Beginning of year 1,554,580 1,190,425 1,458,801 1,216,972 948,873 End of year $ 1,782,464 488,270 $ 1,301,233 $ 1,890,873 $ 1,354,208 $ (Continued)
Special Revenue Funds
City of Paramount
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds
For the Year Ended June 30, 2023
112
Measure W Sewer Public
Safe Clean Reconstruction Public Access Storm Drain
Water Fees Art Fees Fees Fees
REVENUES:

Interest and use of property $ 27,489 $ 4,413 $ 4,219 $ 3,236 $ 8,843 Intergovernmental revenues 653,612 - - - -
Charges for services 1,274 - 602,090 43,855 71,894
Other revenue - - - - -
Total revenues 681,101 5,687 606,309 47,091 80,737
EXPENDITURES:

Current:

General government - 2,331 - 4,357 -
Community development - - - - -
Public safety - - - - -
Community services - - - - -
Public works 522,896 - - - -
Capital outlay:

Streets, sidewalks and signals 113,337 - - - -
Other 271,416 40,380 - - -
Debt Service:

Principal - - - - -
Interest and fiscal charges - - - - -
Total expenditures 907,649 42,711 - 4,357 -
Excess (deficiency) of revenues
over expenditures (226,548) 5,687 563,598 42,734 80,737 OTHER FINANCING SOURCES:

Issuance of debt - - - - -
Total other financing sources - - - - -
Net change in fund balances (226,548) 5,687 563,598 42,734 80,737 FUND BALANCES:

Beginning of year 1,505,529 240,262 96,706 168,936 457,762 End of year $ 245,949 1,278,981 $ 660,304 $ 211,670 $ 538,499 $ (Continued)
Special Revenue Funds
City of Paramount
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds
For the Year Ended June 30, 2023
113
Capital
Total Projects Fund Total
General Special Paramount Nonmajor
Plan Service Revenue Parking Governmental
Fees Assessments Fund Authority Funds
REVENUES:

Interest and use of property 10,453 $ - $ 205,287 $ - $ 205,287 $ Intergovernmental revenues - - 11,762,992 - 11,762,992
Charges for services 51,155 14,143 870,688 - 870,688
Other revenue - - 39,074 - 39,074
Total revenues 14,143 61,608 12,878,041 - 12,878,041
EXPENDITURES:

Current:

General government - 9,126 328,718 - 328,718
Community development 68,689 - 438,629 - 438,629
Public safety - - 608,977 - 608,977
Community services - - 3,117,355 - 3,117,355
Public works - 5,017 2,093,256 - 2,093,256
Capital outlay:

Streets, sidewalks and signals - - 4,388,370 - 4,388,370 Other - - 754,763 - 754,763
Debt Service:

Principal - - 42,099 - 42,099
Interest and fiscal charges - - 5,026 - 5,026
Total expenditures 14,143 68,689 11,777,193 - 11,777,193 Excess (deficiency) of revenues
over expenditures (7,081) 1,100,848 - 1,100,848 -
OTHER FINANCING SOURCES:

Issuance of debt - 94,162 - - 94,162
Total other financing sources - 94,162 - - 94,162
Net change in fund balances (7,081) 1,195,010 - 1,195,010 - FUND BALANCES:

Beginning of year 590,168 12,317,358 - 535,000 12,852,358 End of year $ - 583,087 $ 13,512,368 $ 535,000 $ 14,047,368 $ (Concluded)
Special Revenue Funds
City of Paramount
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds
For the Year Ended June 30, 2023
114
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental revenues 899,250 $ 899,250 $ 663,985 $ (235,265) $ Total revenues 899,250 899,250 663,985 (235,265)
EXPENDITURES:

Current:

General government 124,850 43,850 52,139 (8,289)
Community development 246,800 327,800 90,230 237,570
Public safety 410,950 410,950 408,480 2,470
Public works 116,650 116,650 113,136 3,514
Total expenditures 899,250 899,250 663,985 235,265
Net change in fund balance $ - - $ - - $
FUND BALANCE:

Beginning of year -
End of year $ -
Budgeted Amounts
City of Paramount
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Community Development Block Grant Special Revenue Fund
For the Year Ended June 30, 2023
115
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental revenues 403,650 $ 403,650 $ 159,042 $ (244,608) $ Total revenues 403,650 403,650 159,042 (244,608)
EXPENDITURES:

Current:

General government 23,650 23,650 22,705 945
Community development 380,000 380,000 129,007 250,993
Total expenditures 403,650 403,650 151,712 251,938
Net change in fund balance $ - - $ 7,330 7,330 $
FUND BALANCE:

Beginning of year 122,227
End of year $ 129,557
Budgeted Amounts
City of Paramount
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual HOME Partnership Act Special Revenue Fund
For the Year Ended June 30, 2023
116
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Other revenues 9,600 $ 9,600 $ 9,600 $ - $
Total revenues 9,600 9,600 9,600 -
EXPENDITURES:

Current:

Community development 2,000 2,000 813 1,187
Total expenditures 2,000 2,000 813 1,187
Net change in fund balance $ 7,600 $ 7,600 8,787 $ 1,187 FUND BALANCE:

Beginning of year 1,280,404
End of year $ 1,289,191
Budgeted Amounts
City of Paramount
For the Year Ended June 30, 2023
Paramount Housing Authority Special Revenue Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual 117
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental revenues - $ 232,100 $ 232,082 $ (18) $ Total revenues 232,100 - 232,082 (18)
EXPENDITURES:

Current:

Community development - 129,700 129,669 31
Public safety 97,300 102,400 102,413 (13)
Total expenditures 232,100 97,300 232,082 18
Net change in fund balance $ - (97,300) $ - - $
FUND BALANCE:

Beginning of year -
End of year $ -
City of Paramount
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Community Development Block Grant Coronavirus Special Revenue Fund For the Year Ended June 30, 2023
Budgeted Amounts
118
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 1,650 $ 2,700 $ 4,729 $ 2,029 $ Intergovernmental revenues 2,425,700 2,425,700 2,788,851 363,151 Total revenues 2,428,400 2,427,350 2,793,580 365,180
EXPENDITURES:

Current:

Community services 2,425,700 2,425,700 2,393,543 32,157 Total expenditures 2,425,700 2,425,700 2,393,543 32,157 Net change in fund balance $ 1,650 $ 2,700 400,037 $ 397,337 FUND BALANCE:

Beginning of year 115,065
End of year $ 515,102
Budgeted Amounts
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual After School Education and Safety Special Revenue Fund
For the Year Ended June 30, 2023
119
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 3,600 $ 11,000 $ 9,445 $ (1,555) $ Intergovernmental revenues 1,512,550 1,363,400 1,342,319 (21,081) Total revenues 1,374,400 1,516,150 1,351,764 (22,636)
EXPENDITURES:

Current:

Public works 1,263,900 1,367,000 1,133,322 233,678
Total expenditures 1,367,000 1,263,900 1,133,322 233,678 Net change in fund balance $ 7,400 252,250 $ 218,442 211,042 $ FUND BALANCE:

Beginning of year 455,157
End of year $ 673,599
Budgeted Amounts
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual State Gas Tax Special Revenue Fund
For the Year Ended June 30, 2023
120
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental revenues 100,000 $ 100,000 $ 82,693 $ (17,307) $ Total revenues 100,000 100,000 82,693 (17,307)
EXPENDITURES:

Current:

Community services 100,000 100,000 82,693 17,307
Total expenditures 100,000 100,000 82,693 17,307
Net change in fund balance $ - - $ - - $
FUND BALANCE:

Beginning of year -
End of year $ -
Budgeted Amounts
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Traffic Safety Special Revenue Fund
For the Year Ended June 30, 2023
121
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interst and use of property 3,000 $ 11,000 $ 8,095 $ (2,905) $ Charges for services 79,000 79,000 77,113 (1,887)
Total revenues 90,000 82,000 85,208 (4,792)
EXPENDITURES:

Current:

Public works 120,050 120,050 110,308 9,742
Total expenditures 120,050 120,050 110,308 9,742
Net change in fund balance $ (30,050) (38,050) $ (25,100) 4,950 $ FUND BALANCE:

Beginning of year 457,697
End of year $ 432,597
Budgeted Amounts
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Waste Reduction Fees Special Revenue Fund
For the Year Ended June 30, 2023
122
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interst and use of property 4,000 $ 8,000 $ 3,181 $ (4,819) $ Intergovernmental revenues 70,000 70,000 69,272 (728)
Total revenues 78,000 74,000 72,453 (5,547)
EXPENDITURES:

Current:

General government 13,900 13,900 5,757 8,143
Public works 13,900 18,000 108 17,892
Capital outlay:

Other 50,000 362,000 442,967 (80,967)
Debt service:

Principal - 42,099 42,099 -
Interest - 6,951 5,026 1,925
Total expenditures 442,950 77,800 495,957 (53,007)
Excess (deficiency) of revenues over expenditures (364,950) (3,800) (423,504) (58,554) OTHER FINANCING SOURCES:

Issuance of debt - - 94,162 94,162
Net change in fund balance $ (364,950) (3,800) $ (329,342) 35,608 $ FUND BALANCE:

Beginning of year 409,315
End of year $ 79,973
Budgeted Amounts
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual AB2766 Subvention Funds Special Revenue Fund
For the Year Ended June 30, 2023
123
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 400 $ 1,000 $ 938 $ (62) $ Charges for services 8,500 8,500 7,394 (1,106)
Total revenues 9,500 8,900 8,332 (1,168)
Net change in fund balance $ 8,900 $ 9,500 8,332 $ (1,168) FUND BALANCE:

Beginning of year 48,479
End of year $ 56,811
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Disability Access and Education Fees Special Revenue Fund For the Year Ended June 30, 2023
Budgeted Amounts
124
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 7,500 $ 22,700 $ 18,257 $ (4,443) $ Intergovernmental revenues 1,222,350 1,159,950 1,193,607 33,657 Total revenues 1,182,650 1,229,850 1,211,864 29,214
EXPENDITURES:

Capital outlay:

Streets, sidewalks and signals 245,000 2,585,699 2,278,174 307,525 Total expenditures 2,585,699 245,000 2,278,174 307,525
Net change in fund balance $ (1,403,049) 984,850 $ (1,066,310) 336,739 $ FUND BALANCE:

Beginning of year 1,554,580
End of year $ 488,270
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual SB1 Road Maintenance & Rehabilitation Account Special Revenue Fund For the Year Ended June 30, 2023
Budgeted Amounts
125
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 10,800 $ 37,800 $ 30,092 $ (7,708) $ Intergovernmental revenues 1,345,000 1,345,000 1,450,915 105,915 Charges for services 1,500 1,500 1,770 270
Total revenues 1,384,300 1,357,300 1,482,777 98,477
EXPENDITURES:

Current:

General government 67,400 67,400 84,920 (17,520)
Community development 18,900 18,900 20,221 (1,321)
Public safety 115,600 115,600 98,084 17,516
Community services 543,950 656,200 641,119 15,081
Public works 52,050 52,050 46,394 5,656
Capital outlay
Streets, sidewalks and signals 940,000 990,000 - 990,000 Total expenditures 1,900,150 1,737,900 890,738 1,009,412 Net change in fund balance $ (515,850) (380,600) $ 592,039 1,107,889 $ FUND BALANCE:

Beginning of year 1,190,425
End of year $ 1,782,464
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Proposition A Transit Tax Special Revenue Fund
For the Year Ended June 30, 2023
Budgeted Amounts
126
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 6,600 $ 27,300 $ 22,578 $ (4,722) $ Intergovernmental revenues 1,110,000 1,110,000 1,203,493 93,493 Other revenues - - 29,474 29,474
Total revenues 1,137,300 1,116,600 1,255,545 118,245
EXPENDITURES:

Current:

General government 74,500 74,500 83,014 (8,514)
Public works 144,550 144,550 116,541 28,009
Capital outlay:

Streets, sidewalks and signals 1,089,000 1,789,000 1,213,558 575,442 Total expenditures 2,008,050 1,308,050 1,413,113 594,937 Net change in fund balance $ (870,750) (191,450) $ (157,568) 713,182 $ FUND BALANCE:

Beginning of year 1,458,801
End of year $ 1,301,233
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Proposition C Transit Tax Special Revenue Fund
For the Year Ended June 30, 2023
Budgeted Amounts
127
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 7,500 $ 33,000 $ 27,794 $ (5,206) $ Intergovernmental revenues 830,000 830,000 902,359 72,359 Total revenues 863,000 837,500 930,153 67,153
EXPENDITURES:

Current:

General government 52,350 52,350 7,261 45,089
Public works 12,300 12,300 25,938 (13,638)
Capital outlay:

Streets, sidewalks and signals 900,000 981,900 223,053 758,847 Total expenditures 1,046,550 964,650 256,252 790,298
Net change in fund balance $ (183,550) (127,150) $ 673,901 857,451 $ FUND BALANCE:

Beginning of year 1,216,972
End of year $ 1,890,873
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Measure R Transit Tax Special Revenue Fund
For the Year Ended June 30, 2023
Budgeted Amounts
128
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 7,200 $ 26,000 $ 21,525 $ (4,475) $ Intergovernmental revenues 945,000 945,000 1,020,762 75,762 Total revenues 971,000 952,200 1,042,287 71,287
EXPENDITURES:

Current:

General government 52,350 52,350 57,108 (4,758)
Public works 27,050 27,050 19,596 7,454
Capital outlay:

Streets, sidewalks and signals 222,000 876,191 560,248 315,943 Total expenditures 955,591 301,400 636,952 318,639
Net change in fund balance $ 15,409 650,800 $ 405,335 389,926 $ FUND BALANCE:

Beginning of year 948,873
End of year $ 1,354,208
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Measure M Transit Tax Special Revenue Fund
For the Year Ended June 30, 2023
Budgeted Amounts
129
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 4,400 $ 31,000 $ 27,489 $ (3,511) $ Intergovernmental revenues 642,300 653,600 653,612 12
Total revenues 684,600 646,700 681,101 (3,499)
EXPENDITURES:

Current:

Public works 699,000 599,000 522,896 76,104
Capital outlay:

Streets, sidewalks and signals - 113,250 113,337 (87)
Other 447,000 561,900 271,416 290,484
Total expenditures 1,274,150 1,146,000 907,649 366,501
Net change in fund balance (589,550) (499,300) (226,548) 363,002 FUND BALANCE:

Beginning of year 1,505,529
End of year $ 1,278,981
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Measure W Safe Clean Water Special Revenue Fund
For the Year Ended June 30, 2023
Budgeted Amounts
130
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 1,800 $ 5,000 $ 4,413 $ (587) $ Charges for services 1,500 1,500 1,274 (226)
Total revenues 6,500 3,300 5,687 (813)
Net change in fund balance $ 3,300 $ 6,500 $ 5,687 $ (813) FUND BALANCE:

Beginning of year 240,262
End of year $ 245,949
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Sewer Reconstruction Fees Special Revenue Fund
For the Year Ended June 30, 2023
Budgeted Amounts
131
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 1,200 $ 3,500 $ 4,219 $ 719 $ Charges for services 30,000 200,000 602,090 402,090
Total revenues 203,500 31,200 606,309 402,809
EXPENDITURES:

Current:

General government 7,000 2,500 2,331 169
Capital outlay:

Other 45,000 45,000 40,380 4,620
Total expenditures 47,500 52,000 42,711 4,789
Net change in fund balance $ 156,000 (20,800) $ 563,598 407,598 $ FUND BALANCE:

Beginning of year 96,706
End of year $ 660,304
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Public Art Fees Special Revenue Fund
For the Year Ended June 30, 2023
Budgeted Amounts
132
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 1,050 $ 4,000 $ 3,236 $ (764) $ Charges for services 35,000 35,000 43,855 8,855
Total revenues 39,000 36,050 47,091 8,091
EXPENDITURES:

Current:

General government 5,000 5,000 4,357 643
Total expenditures 5,000 5,000 4,357 643
Net change in fund balance $ 34,000 31,050 $ 42,734 $ 8,734 $ FUND BALANCE:

Beginning of year 168,936
End of year $ 211,670
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Public Access Fees Special Revenue Fund
For the Year Ended June 30, 2023
Budgeted Amounts
133
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 3,300 $ 11,000 $ 8,843 $ (2,157) $ Charges for services 30,500 30,500 71,894 41,394
Total revenues 41,500 33,800 80,737 39,237
Net change in fund balance $ 41,500 33,800 $ 80,737 $ 39,237 $ FUND BALANCE:

Beginning of year 457,762
End of year $ 538,499
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Storm Drain Fees Special Revenue Fund
For the Year Ended June 30, 2023
Budgeted Amounts
134
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Interest and use of property 5,100 $ 14,000 $ 10,453 $ (3,547) $ Charges for services 31,500 31,500 51,155 19,655
Total revenues 45,500 36,600 61,608 16,108
EXPENDITURES:

Current:

Community development 415,000 437,250 68,689 368,561
Total expenditures 437,250 415,000 68,689 368,561
Net change in fund balance $ (391,750) (378,400) $ (7,081) 384,669 $ FUND BALANCE:

Beginning of year 590,168
End of year $ 583,087
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual General Plan Fees Special Revenue Fund
For the Year Ended June 30, 2023
Budgeted Amounts
135
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Charges for services 14,150 $ 14,150 $ 14,143 $ (7) $
Total revenues 14,150 14,150 14,143 (7)
EXPENDITURES:

Current:

General government 3,700 3,700 9,126 (5,426)
Public works 10,450 10,450 5,017 5,433
Total expenditures 14,150 14,150 14,143 7
Net change in fund balance $ - - $ - $ - $
FUND BALANCE:

Beginning of year -
End of year $ -
City of Paramount
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Service Assessments Special Revenue Fund
For the Year Ended June 30, 2023
Budgeted Amounts
136

STATISTICAL SECTION
(Unaudited)
137
This page intentionally left blank
138
Contents Page
Financial Trends
These schedules contain trend information to help the reader understand how the government's financial performance and well being have changed over time. 140 - 149 Revenue Capacity
These schedules contain information to help the reader assess one of the government's most significant local revenue sources - property tax. 150 - 154
Debt Capacity
These schedules present information to help the reader assess the affordability of the government's current levels of outstanding debt and the government's ability to issue additional debt in the future. 155 - 160 Demographic and Economic Information
This schedule offers demographic and economic indicators to help the reader understand the environment within which the government's financial activities take place. 161 - 162 Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information in the government's financial report relates to the services the government provides and the activities it performs. 163 - 167 City of Paramount
Statistical Section Overview
(Unaudited)
139
2014 2015* 2016 2017 2018
Governmental activities:

Net investment in capital assets 82,967,732 $ 79,511,962 $ 79,690,688 $ 79,225,417 $ 76,381,563 $ Restricted 6,373,039 6,647,656 4,309,004 4,181,878 5,874,235 Unrestricted 15,872,421 2,027,521 8,844 (2,208,468) (6,436,004) Total governmental activities net position 105,213,192 $ 88,187,139 $ 84,008,536 $ 81,198,827 $ 75,819,794 $ Business-type activities:

Net investment in capital assets 16,918,341 $ 16,981,731 $ 17,905,387 $ 17,328,598 $ 9,979,726 $ Restricted - - - - -
Unrestricted 2,489,718 894,214 709,203 1,517,233 7,573,532 Total business-type activities net position 19,408,059 17,875,945 18,614,590 18,845,831 17,553,258 Primary government:

Net investment in capital assets 99,886,073 $ 96,493,693 $ 97,596,075 $ 96,554,015 $ 86,361,289 $ Restricted 6,373,039 6,647,656 4,309,004 4,181,878 5,874,235 Unrestricted 18,362,139 2,921,735 718,047 (691,235) 1,137,528 Total primary government net position 124,621,251 $ 106,063,084 $ 102,623,126 $ 100,044,658 $ 93,373,052 $ * Numbers reflect the implementation of GASB Statement No. 68.

Source:

City of Paramount audited financial statements
Fiscal Year
City of Paramount
Table 1
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
140
2019 2020 2021 2022 2023
Governmental activities:

Net investment in capital assets $ 75,437,457 $ 72,665,264 $ 70,923,502 $ 73,014,467 $ 75,764,653 Restricted 5,553,952 6,161,908 11,040,989 10,792,349 12,716,782 Unrestricted (5,371,456) (5,601,349) (1,963,088) 5,107,970 19,097,633 Total governmental activities net position $ 75,619,953 $ 73,225,823 $ 80,001,403 $ 88,914,786 $ 107,579,068 Business-type activities:

Net investment in capital assets $ 16,275,296 $ 16,132,664 $ 12,428,094 $ 16,310,930 $ 16,976,379 Restricted - - - - -
Unrestricted 1,556,622 1,257,073 2,939,592 3,239,458 1,550,050 Total business-type activities net position 17,831,918 17,389,737 15,367,686 19,550,388 18,526,429 Primary government:

Net investment in capital assets $ 91,712,753 $ 88,797,928 $ 83,351,596 $ 89,325,397 $ 92,741,032 Restricted 5,553,952 6,161,908 11,040,989 10,792,349 12,716,782 Unrestricted (3,814,834) (4,344,276) 976,504 8,347,428 20,647,683 Total primary government net position $ 93,451,871 $ 90,615,560 $ 95,369,089 $ 126,105,497 108,465,174 $ Source:

City of Paramount audited financial statements
Fiscal Year
City of Paramount
Table 1
Net Position by Component (Continued)
Last Ten Fiscal Years
(accrual basis of accounting)
141
2014 2015 2016 2017 2018
Expenses:

Governmental activities:

General government $ 6,202,608 $ 6,409,474 $ 6,846,940 $ 7,308,976 $ 7,184,690 Community development 2,148,884 2,172,414 5,007,589 2,039,989 2,461,135 Public safety 10,284,334 10,662,749 11,218,541 11,139,959 11,888,055 Community services and recreation 5,804,838 6,074,382 5,830,850 6,330,295 6,368,824 Public works 9,994,449 10,015,353 10,571,784 10,620,526 10,611,799 Interest on long-term debt - - - - -
Total governmental activities expenses 34,435,113 35,334,372 39,475,704 37,439,745 38,514,503 Business-type activities:

Water 7,481,502 7,392,150 7,685,532 7,677,359 8,581,886 Total business-type activities expenses 7,481,502 7,392,150 7,685,532 7,677,359 8,581,886 Total primary government expenses 41,916,615 42,726,522 47,161,236 45,117,104 47,096,389 Program revenues:

Governmental activities:

Charges for services:

General government 168,882 291,859 199,877 167,554 185,444 Community development 404,963 347,387 508,124 381,084 486,252 Public safety 134,285 125,707 119,425 130,937 108,650
Community services and recreation 266,170 257,191 264,633 282,814 213,050 Public works 595,654 528,391 759,040 675,278 826,430
Operating grants and contributions 8,240,015 8,035,786 7,541,476 7,409,586 8,574,899 Capital grants and contributions 2,508,509 1,564,891 2,419,414 2,840,656 3,226,132 Total governmental activities program revenues 12,318,478 11,151,212 11,811,989 11,887,909 13,620,857 Business-type activities:

Charges for services:

Water 7,815,043 7,040,916 6,972,036 7,812,294 7,946,567 Operating grants and contributions - - - - -
Capital grants and contributions - - - 106,368 -
Total business-type activities program revenues 7,815,043 7,040,916 6,972,036 7,812,294 8,052,935 Total primary government program revenues 20,133,521 18,192,128 18,784,025 19,700,203 21,673,792 Fiscal Year
City of Paramount
Table 2
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
142
2014 2015 2016 2017 2018
Net revenues (expenses):

Governmental activities $ (22,116,635) $ (24,183,160) $ (27,663,715) $ (25,551,836) $ (24,893,646) Business-type activities 333,541 (351,234) (713,496) 134,935 (528,951) Total net revenues (expenses) (21,783,094) (24,534,394) (28,377,211) (25,416,901) (25,422,597) General revenues and other changes in net position:

Governmental activities:

Taxes:

Sales tax 5,770,919 5,568,430 6,129,480 7,278,424 7,712,771 In-Lieu Sales Tax 1,951,154 1,916,619 1,293,617 - -
Transaction & Use Tax - - - - -
Utility Users tax 2,185,548 2,289,871 3,981,658 3,679,314 3,757,405 Franchise Tax 1,650,478 1,706,318 1,635,366 1,637,474 1,784,998 Property Tax 1,882,437 2,041,764 2,052,016 2,099,550 2,306,211 Business License 1,015,413 990,573 977,307 962,675 947,111 Investment earnings 37,375 40,885 64,064 97,769 202,802 Motor Vehicle license fees, unrestricted 5,179,714 5,346,425 5,468,904 5,779,305 6,068,259 Other revenues 264,751 518,840 386,535 303,949 647,385
Extraordinary item-Redevelopment Agency 5,666,285 1,496,165 - 903,667 484,475 Transfers - - - - -
Total governmental activities 25,604,074 20,419,725 23,485,112 22,742,127 23,911,417 Business-type activities:

Investment income 4,461 9,144 13,483 24,536 56,884
Other revenues 88,688 117,285 54,673 48,722 56,697
Extraordinary item-Redevelopment Agency 528,516 - 1,383,986 23,048 - Transfers - - - - -
Total business-type activities 93,149 654,945 1,452,142 96,306 113,581 Total primary government 25,697,223 21,074,670 24,937,254 22,838,433 24,024,998 Changes in net position
Governmental activities 3,487,439 (3,763,435) (4,178,603) (2,809,709) (982,229) Business-type activities 426,690 303,711 738,646 231,241 (415,370) Total primary government $ 3,914,129 $ (3,459,724) $ (3,439,957) $ (2,578,468) $ (1,397,599) Source:

City of Paramount audited financial statements
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal Year
City of Paramount
Table 2
Changes in Net Position (Continued)
143
2019 2020 2021 2022 2023
Expenses:

Governmental activities:

General government $ 7,088,630 $ 7,357,400 $ 7,348,010 $ 8,888,563 $ 10,059,418 Community development 1,926,054 2,405,848 3,142,509 3,166,168 4,817,632 Public safety 11,862,334 12,179,427 12,749,502 13,637,499 15,311,548 Community services and recreation 6,413,969 6,121,450 5,864,047 6,592,797 7,774,667 Public works 10,440,155 12,053,263 12,475,482 13,309,135 16,159,020 Interest on long-term debt - - 389,603 - 365,104
Total governmental activities expenses 37,731,142 40,117,388 41,579,550 45,983,765 54,487,389 Business-type activities:

Water 7,793,957 8,178,235 9,861,949 8,895,635 11,427,517 Total business-type activities expenses 7,793,957 8,178,235 9,861,949 8,895,635 11,427,517 Total primary government expenses 45,525,099 48,295,623 51,441,499 54,879,400 65,914,906 Program revenues:

Governmental activities:

Charges for services:

General government 191,359 222,426 193,393 210,847 183,320 Community development 381,846 229,201 603,104 741,976 3,687,530 Public safety 138,403 107,691 84,128 69,127 137,960
Community services and recreation 215,788 96,963 60,415 134,785 240,657 Public works 772,886 614,480 790,144 5,549,354 260,244
Operating grants and contributions 7,971,987 8,100,026 9,449,889 10,313,132 17,729,029 Capital grants and contributions 3,252,151 3,524,293 4,577,817 4,917,424 6,256,776 Total governmental activities program revenues 12,924,420 12,895,080 15,758,890 21,936,645 28,495,516 Business-type activities:

Charges for services:

Water 7,750,500 7,589,241 7,796,180 8,414,322 8,355,545 Operating grants and contributions - - - 3,438,975 -
Capital grants and contributions 166,689 - - 757,063 -
Total business-type activities program revenues 7,917,189 7,589,241 7,796,180 8,414,322 12,551,583 Total primary government program revenues 20,841,609 20,484,321 23,555,070 30,350,967 41,047,099 Fiscal Year
City of Paramount
Table 2
Changes in Net Position (Continued)
Last Ten Fiscal Years
(accrual basis of accounting)
144
2019 2020 2021 2022 2023
Net revenues (expenses):

Governmental activities (24,806,722) (27,222,308) (25,820,660) (24,047,120) (25,991,873) Business-type activities 123,232 (588,994) (2,065,769) (481,313) 1,124,066 Total net revenues (expenses) (24,683,490) (27,811,302) (27,886,429) (24,528,433) (24,867,807) General revenues and other changes in net position:

Governmental activities:

Taxes:

Sales tax 8,449,883 8,265,394 9,459,141 11,483,195 12,261,365 In-Lieu Sales Tax - - - - -
Transaction & Use Tax - 5,585,397 - 7,238,769 8,113,036 Utility Users tax 3,735,391 3,484,876 3,261,854 4,183,383 4,492,823 Franchise Tax 1,818,389 1,885,967 1,904,943 2,049,479 2,196,469 Property Tax 2,341,486 2,563,106 2,763,914 2,847,420 3,059,499 Business License 988,043 893,150 893,927 988,969 962,760 Investment earnings 362,253 320,851 116,104 57,848 793,392 Motor Vehicle license fees, unrestricted 6,355,849 6,915,240 7,362,208 7,573,107 8,088,374 Other revenues 555,587 505,206 1,248,752 1,197,449 2,475,170 Extraordinary item-Redevelopment Agency - - - - -
Transfers (5,612) - (4,659,116) - -
Total governmental activities 24,606,881 24,828,178 32,596,240 32,960,503 42,442,888 Business-type activities:

Investment income 100,630 90,318 17,668 1,349 65,243
Other revenues 54,798 50,883 26,050 3,550 -
Extraordinary item-Redevelopment Agency - - - - -
Transfers - 5,612 4,659,116 - -
Total business-type activities 155,428 146,813 43,718 4,664,015 65,243 Total primary government 24,762,309 24,974,991 32,639,958 37,624,518 42,508,131 Changes in net position
Governmental activities (199,841) (2,394,130) 6,775,580 8,913,383 16,451,015 Business-type activities 278,660 (442,181) (2,022,051) 4,182,702 1,189,309 Total primary government $ 78,819 $ (2,836,311) $ 4,753,529 $ 13,096,085 $ 17,640,324 Source:

City of Paramount audited financial statements
City of Paramount
Table 2
Changes in Net Position (Continued)
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal Year
145
2014 2015 2016 2017 2018
General fund:

Nonspendable $ 3,510,869 $ 3,605,980 $ 355,213 $ 273,028 $ 276,969 Restricted - - - - -
Commited - - - - -
Assigned 3,213,827 3,563,827 3,563,827 2,620,286 3,675,028 Unassigned 11,618,168 11,809,618 12,121,484 12,557,530 12,647,525 Total general fund 18,342,864 18,979,425 16,040,524 15,450,844 16,599,522 All other governmental funds:

Nonspendable 535,000 535,000 535,000 - -
Restricted 4,764,186 4,974,082 4,309,004 4,909,124 6,448,479 Committed 1,073,853 1,138,574 1,130,117 1,130,425 1,406,939 Total all other governmental funds $ 6,373,039 $ 6,647,656 $ 5,974,121 $ 6,039,549 $ 7,855,418 Source:

City of Paramount audited financial statements
Fiscal Year
City of Paramount
Table 3
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(accrual basis of accounting)
146
2019 2020 2021 2022 2023
General fund:

Nonspendable $ 558,425 $ 299,648 $ 372,030 $ 419,767 $ 437,805 Restricted - - - - 7,826
Commited - - - 23,751,035 -
Assigned 4,613,579 5,419,180 8,316,428 10,202,216 21,365,038 Unassigned 12,776,116 12,798,092 14,690,303 19,185,452 1,637,546 Total general fund 17,948,120 18,516,920 23,378,761 29,807,435 47,199,250 All other governmental funds:

Nonspendable - - - 21,535 -
Restricted 6,245,337 7,237,049 9,645,978 12,164,069 12,687,421 Committed 1,412,888 1,394,450 1,395,011 1,144,636 1,781,890 Total all other governmental funds $ 7,658,225 $ 8,631,499 $ 11,040,989 $ 13,308,705 $ 14,490,846 Source:

City of Paramount audited financial statements
(accrual basis of accounting)
Fiscal Year
City of Paramount
Table 3
Fund Balances of Governmental Funds (Continued)
Last Ten Fiscal Years
147
2014 2015 2016 2017 2018
Revenues:

Taxes $ 14,455,949 $ 14,513,575 $ 16,069,444 $ 15,657,437 $ 16,508,496 Licenses and permits 658,584 640,375 788,472 717,919 814,146 Fines & Penalties 702,539 680,755 727,000 738,338 921,744 Interest & use of property 97,981 149,617 152,768 161,069 293,406 Intergovernmental revenues 12,854,869 13,162,209 13,628,376 14,146,748 15,780,459 Charges for services 867,591 820,285 985,224 866,124 949,527 Other 1,328,269 2,898,830 1,461,768 1,438,161 1,771,286 Total revenues 30,965,782 32,865,646 33,813,052 33,725,796 37,039,064 Expenditures
Current:

General government 5,108,701 5,621,050 5,533,812 5,737,211 6,117,349 Community development 2,040,185 2,155,118 4,908,494 1,640,630 1,962,771 Public safety 10,238,432 10,672,716 11,080,181 10,744,979 11,629,250 Community services & recreation 4,635,635 4,667,924 4,861,967 4,950,485 5,219,398 Public works 5,751,998 5,807,592 6,173,761 6,892,265 6,674,196 Debt service:

Principal retirement - - - - -
Interest and fiscal charges - - - - -
Capital Outlay
Water - - - 106,368 -
Streets, sidewalks and signals 1,369,624 1,921,144 3,758,222 3,093,146 2,223,530 Parks 468,524 788,748 566,101 1,165,442 245,589
Other 156,017 320,176 542,950 205,254 408,034
Total expenditures 29,769,116 31,954,468 37,425,488 34,429,412 34,586,485 Excess (deficiency) of
revenues over (under)
expenditures 1,196,666 911,178 (3,612,436) (703,616) 2,452,579 Other financing sources (uses):

Transfers in - - - 35,249 -
Transfers out (170,000) - - (135,249) -
Issuance of bonds - - - - -
Capital Lease - - - 127,493 -
Total other financing sources (uses) (170,000) - - 27,493 - Extraordinary and special items:

Extraordinary item-RDA 3,453,544 - - 484,475 -
Total extraordinary and special items 3,453,544 - - 484,475 - Net change in fund balances $ 4,480,210 $ 911,178 $ (3,612,436) $ (703,616) $ 2,964,547 Debt service as a percentage of noncapital expenditures 0.0% 0.0% 0.0% 0.0% 0.0% Source:

City of Paramount audited financial statements
City of Paramount
Table 4
Chnages in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal Year
148
2019 2020 2021 2022 2023
Revenues:

Taxes $ 17,333,192 $ 17,092,493 $ 23,869,176 $ 28,791,215 $ 31,085,952 Licenses and permits 802,010 620,630 765,869 831,664 1,734,089 Fines & Penalties 835,477 820,853 825,192 985,543 1,240,041 Interest & use of property 493,133 437,853 181,255 182,850 948,099 Intergovernmental revenues 15,546,234 16,553,788 19,447,825 25,340,508 31,242,078 Charges for services 840,076 590,600 905,546 1,150,541 2,115,365 Other 1,663,979 1,593,822 2,331,030 2,056,802 2,514,016 Total revenues 37,514,101 37,710,039 48,325,893 59,339,123 70,879,640 Expenditures
Current:

General government 5,910,580 6,679,602 7,150,058 24,430,744 7,828,026 Community development 1,613,310 1,955,450 3,144,315 2,616,052 4,026,101 Public safety 11,677,073 11,876,632 12,721,146 13,056,996 14,106,110 Community services & recreation 5,162,728 5,032,344 4,996,113 5,166,445 6,006,697 Public works 6,872,059 7,316,460 7,691,666 7,937,654 9,690,038 Debt service:

Principal retirement - - 26,239 - 1,348,743
Interest and fiscal charges - - 381,263 - 328,359
Capital Outlay
Water 166,689 5,612 - - -
Streets, sidewalks and signals 4,077,088 2,872,345 3,185,722 4,208,347 6,477,107 Parks 285,050 230,656 739,645 2,543,074 1,474,302
Other 517,709 296,411 483,137 1,691,886 1,347,079
Total expenditures 36,282,286 36,265,512 40,111,802 62,058,700 52,632,562 Excess (deficiency) of
revenues over (under)
expenditures 1,231,815 1,444,527 8,214,091 (2,719,577) 18,247,078 Other financing sources (uses):

Transfers in 312,985 - - - -
Transfers out (543,485) (1,000,000) - (5,859,116) -
Issuance of bonds - - 17,156,788 - 326,879
Capital Lease 150,090 97,547 57,240 118,295 -
Total other financing sources (uses) (80,410) 97,547 (942,760) 11,415,967 326,879 Extraordinary and special items:

Extraordinary item-RDA - - - - -
Total extraordinary and special items - - - - -
Net change in fund balances $ 1,151,405 $ 1,542,074 $ 7,271,331 $ 8,696,390 $ 18,573,957 Debt service as a percentage of noncapital expenditures 0.0% 0.0% 0.0% 0.8% 3.9% Source:

City of Paramount audited financial statements
(accrual basis of accounting)
Fiscal Year
City of Paramount
Table 4
Chnages in Fund Balances of Governmental Funds (Continued) Last Ten Fiscal Years
149
2013 2014 2015 2016 2017
Apparel Stores $ 23,100 $ 22,999 $ 22,718 $ 22,954 $ 19,971 Food Stores 25,097 24,989 25,551 22,141 20,589
Eating and Drinking Places 47,485 51,696 57,716 62,348 69,583 Building Materials 63,384 64,578 85,481 99,688 108,049
Auto Dealers and Supplies 14,941 13,531 15,294 16,959 17,004 Service Stations 100,545 98,520 81,019 67,146 72,252
Other Retail Stores 101,401 101,268 101,743 107,051 97,628 All Other Outlets 387,318 391,536 331,778 325,153 352,689 Total $ 763,271 $ 769,117 $ 721,300 $ 723,440 $ 757,765 Sales and Use Tax rate 8.75% 8.75% 9.00% 9.00% 9.50%
Note:

The categories presented are intended to provide alternative information regarding the sources of the City's revenue.

Sources:

State of California Board of Equalization
The HdL Companies
Calendar Year
City of Paramount
Table 5
Taxable Sales by Category
Last Ten Calendar Years
(in thousands of dollars)
150
2018 2019 2020 2021 2022
Apparel Stores $ 20,746 $ 20,803 $ 18,176 $ 25,989 $ 26,320 Food Stores 21,936 22,665 25,257 23,682 24,624
Eating and Drinking Places 75,944 79,620 72,511 89,660 96,246 Building Materials 103,876 114,502 123,355 132,835 136,772 Auto Dealers and Supplies 16,212 12,373 17,916 18,721 19,356 Service Stations 83,100 88,083 63,259 107,373 142,325
Other Retail Stores 102,865 101,220 105,717 125,870 124,386 All Other Outlets 380,354 412,964 434,861 503,012 644,036 Total $ 805,033 $ 852,230 $ 861,052 $ 1,027,142 $ 1,214,065 Sales and Use Tax rate 9.50% 9.50% 10.25% 10.25% 10.25% Note:

The categories presented are intended to provide alternative information regarding the sources of the City's revenue.

Sources:

State of California Board of Equalization
The HdL Companies
City of Paramount
Table 5
Taxable Sales by Category (Continued)
Last Ten Calendar Years
(in thousands of dollars)
Calendar Year
151
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152
Calendar
Year City L.A. County L.A. County Total
Ended Direct Transportation Transportation County City State of Sales Tax December 31 Rate Authority Commission Transportation Operations California Rate 2013 0.00% 0.50% 1.00% 0.25% 0.75% 6.50% 9.00%
2014 0.00% 0.50% 1.00% 0.25% 0.75% 6.50% 9.00%
2015 0.00% 0.50% 1.00% 0.25% 0.75% 6.50% 9.00%
2016 0.00% 0.50% 1.00% 0.25% 0.75% 6.50% 9.00%
2017 0.00% 0.50% 1.00% 0.50% 0.25% 7.25% 9.50%
2018 0.00% 0.50% 1.00% 0.50% 0.25% 7.25% 9.50%
2019 0.00% 0.50% 1.00% 0.50% 0.25% 7.25% 9.50%
2020 0.75% 0.50% 1.00% 0.50% 0.25% 7.25% 10.25%
2021 0.75% 0.50% 1.00% 0.50% 0.25% 7.25% 10.25%
2022 0.75% 0.50% 1.00% 0.50% 0.25% 7.25% 10.25%
Notes:

Effective July 1, 2004, 1/4% of the local rate levied by the State for the City's operations was shifted to the State to create a dedicated revenue source to repay bonds issued under the California Economic Recovery Bond Act. Revenue lost through the shift is backfilled to the City with property tax revenue from the County Education Revenue Augmentation Fund (ERAF).

Sources:

California State Board of Equalization
The HdL Companies
Local Rate Levied by State
City of Paramount
Table 6
Direct and Overlapping Sales Tax Rates
Last Ten Calendar Years
153
2022 2013
Air Products Manufacturing Drugs/Chemicals Arco AM PM Service Stations Alt Air Fuels Petroleum Product/Equipment Arco AM PM Service Stations ANC Vehicle Wash Systems of AZ Light Industrial/Printers Arco AM PM Service Stations Arco AM PM Service Stations Chao Petroleum Service Stations Arco AM PM Service Stations Chemco Drugs/Chemicals
Border Tire Automative Supply Stores Chevron Service Stations Chemco Drugs/Chemicals Chevron Service Stations
Circle K Service Stations Circle K Service Stations
Cort Furniture Rental Home Furnishings Cort Furniture Rental Home Furnishings Del Amo Motorsports of LA Boats/Motorcycles Drees Wood Products Contractors Desmet Ballestra North America Drugs/Chemicals Ener Tech Metals Heavy Industrial Drees Wood Products Contractors Falcon Fuels Petroleum Prod/Equipment Falcon Fuels Petroleum Product/Equipment GCR Tire Center Automotive Supply Stores HD Supply Building Materials Hardy Roofing Materials Contractors Home Depot Building Materials HD Supply Building Materials JD Fuel Paramount Service Stations Home Depot Building Materials Pacific Gypsum Supply Contractors Jankovich Company Petroleum Prod/Equipment Petro Bras Service Stations Lindsay Lumber Building Materials Premium Windows Contractors Mid Cities Motorsports Boats/Motorcycles Ross Family Apparel Northgate Market Grocery Stores
Sams Roofing Material Building Materials Petro Bras Service Stations SS Fuel Service Stations Rapid Gas Service Stations
The Jankovich Company Petroleum Product/Equipment Ross Family Apparel United Oil Service Stations Sams Roofing Material Building Materials Walmart Supercenter Discount Department Stores Walmart Supercenter Discount Dept Stores Percent of Fiscal Year Total 64.19% 65.37%
Period: January 2022 thru December 2022 January 2013 thru December 2013 Notes:

Firms listed alphabetically
Sources:

State of California Board of Equalization
The HdL Companies
City of Paramount
Table 7
Principal Sales Tax Producers
Current Year and Nine Years Ago
154
Year Pension Total Loan Pension Total Total Percentage Debt Ended Obligation Governmenta and Notes Obligation Business-type Primary of Personal Per June 30 Bonds Leases Activities Payable Bonds Leases Activities Government Income Capita 2014 $ $ - - $ - 5,629,520 $ - $ $ - 5,629,520 $ $ 5,629,520 0.71% 102.21 2015 $ - - - 5,287,159 - - 5,287,159 5,287,159 0.68% 93.74 2016 $ - - - 4,939,285 - - 4,939,285 4,939,285 0.59% 88.32 2017 $ 138,482 - 138,482 4,774,580 - 90,145 4,864,725 5,003,207 0.59% 89.34 2018 $ 203,363 - 203,363 11,303,775 - 101,313 11,405,088 11,608,451 1.27% 209.17 2019 $ 261,439 - 261,439 11,158,240 - 61,981 11,220,221 11,481,660 1.21% 207.02 2020 $ 247,167 - 247,167 10,860,411 - 93,274 10,953,685 11,200,852 1.14% 202.91 2021 $ 190,464 - 190,464 10,553,135 - 66,724 10,619,859 10,810,323 1.01% 206.00 2022 15,130,125 $ 197,657 15,327,782 10,236,115 2,234,875 38,581 12,509,571 27,837,353 2.45% 533.51 2023 13,936,444 $ 369,474 14,305,918 9,909,040 2,058,556 51,124 12,018,720 26,324,638 NA NA Notes:

Details regarding the City's outstanding debt can be found in the notes to the financial statements.

NA denote information that is unavailable.

Percentage of Personal Income and Debt Per Capita are calculated using personal income and population as shown on Table 13.

The debt included in the governmental activities columns (with the exception of capital leases) prior to FY2012 was debt of the Paramount Redevelopment Agency. With the elimination of redevelopment in the State of California effective February 1, 2012, that debt was transferred to a private-purpose trust fund. The governmental activities have no other long-term debt.

Governmental Activities Business-type Activities
City of Paramount
Table 8
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
155
Fiscal Year Tax Percent of
Ended Allocation Assessed Per
June 30 Bonds Total Value Capita
2014 $ - $ - 0.00% $ -
2015 - - 0.00% -
2016 - - 0.00% -
2017 - - 0.00% -
2018 - - 0.00% -
2019 - - 0.00% -
2020 - - 0.00% -
2021 - - 0.00% -
2022 - - 0.00% -
2023 - - 0.00% -
Notes:

Assessed value has been used because the actual value of taxable property is not readily available in the State of California.

Details regarding the City's outstanding debt can be found in the notes to the financial statements.

The outstanding general bonded debt listed prior to FY2012 was debt of the Paramount Redevelopment Agency. With the elimination of redevelopment in the State of California on February 1, 2012, that debt was transferred to a private-purpose trust fund.

Outstanding General Bonded Debt
City of Paramount
Table 9
Ratio of General Bonded Debt Outstanding
Last Ten Fiscal Years
156
City Assessed Valuation $ 3,038,810,586
Redevelopment Agency Incremental Valuation 2,037,554,497 Total Assessed Valuation $ 5,076,365,083
Estimated
Share of
Percentage Outstanding Overlapping
Applicable (2) Debt 6/30/22 Debt
Overlapping Debt Repaid with Property Taxes:

Metropolitan Water District (1) 0.140% 19,215,000 $ $ 26,901 Cerritos Community College District Debt Service 0.005% 445,232,887 22,262 Compton Community College District Debt Service 18.907% 104,371,964 19,733,607 Compton Unified School District Debt Service 0.642% 225,715,148 1,449,091 Downey Unified School District Debt Service 0.020% 371,698,240 74,340 Paramount Unified School District Debt Service 65.898% 119,232,996 180,935,682 Total overlapping debt repaid with property taxes 1,347,168,921 140,539,197 Overlapping Other Debt:

Example County Capital Leases
Example County Board of Education Certificates of Participation Example Unified School District Certificates of Participation Example County Water District Certificates of Participation Example Recreation and Park District Certificates of Participation Total overlapping other debt - -
Total overlapping debt $ 1,347,168,921 140,539,197
City direct debt 15,995,000
Total direct and overlapping debt $ 156,534,197
Notes:

This report reflects debt which is being repaid through voter-approved property tax indebtedness. It excludes mortage revenue, tax allocation bonds, interim financing obligations, non-bonded capital lease obligations and certificates of participation, unless provided by the City.

Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the City. (1) This fund is a portion of a larger agency, and is responsible for debt in areas outside the city. (2) The percentage applicable was 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 taxable assessed value.

City of Paramount
Table 10
Direct and Overlapping Governmental Activities Debt
as of June 30, 2023
157
2014 2015 2016 2017 2018
Assessed valuation $ 3,257,456,687 $ 3,363,331,783 $ 3,441,673,952 $ 3,635,948,857 $ 3,815,902,453 Conversion percentage 25% 25% 25% 25% 25%
Adjusted assessed valuation 814,364,172 840,832,946 860,418,488 908,987,214 953,975,613 Debt limit percentage 15% 15% 15% 15% 15%
Debt limit 122,154,626 126,124,942 129,062,773 136,348,082 143,096,342 Total net debt applicable to limit:

General obligation bonds - - - - -
Legal debt margin $ 122,154,626 $ 126,124,942 $ 129,062,773 $ 136,348,082 $ 143,096,342 Total debt applicable to the limit
as a percentage of debt limit 0.0% 0.0% 0.0% 0.0% 0.0%
Notes:

The City of Paramount has no bonded indebtedness
Source:

Los Angeles County Assessor 2022/2023 Combined Tax Rolls HdL Coren & Cone
The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation. However, this provision was enacted when assessed valuation was based upon 25% of market value. Effective with the 1981-1982 fiscal year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for that parcel). The computations shown above reflect a conversion of assessed valuation data for each fiscal year from the current full valuation perspective to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California for local governments located within the state.

Fiscal Year
City of Paramount
Table 11
Legal Debt Margin Information
Last Ten Fiscal Years
158
2019 2020 2021 2022 2023
Assessed valuation $ 3,999,245,043 $ 4,341,952,634 $ 4,626,441,163 $ 4,745,115,375 $ 5,076,365,083 Conversion percentage 25% 25% 25% 25% 25%
Adjusted assessed valuation 999,811,261 1,085,488,159 1,156,610,291 1,186,278,844 1,269,091,271 Debt limit percentage 15% 15% 15% 15% 15%
Debt limit 149,971,689 162,823,224 173,491,544 177,941,827 190,363,691 Total net debt applicable to limit:
- - - - -
Legal debt margin $ 149,971,689 $ 162,823,224 $ 173,491,544 $ 177,941,827 $ 190,363,691 Total debt applicable to the limit
as a percentage of debt limit 0.0% 0.0% 0.0% 0.0% 0.0%
Notes:

The City of Paramount has no bonded indebtedness
Source:

Los Angeles County Assessor 2022/2023 Combined Tax Rolls HdL Coren & Cone
The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation. However, this provision was enacted when assessed valuation was based upon 25% of market value. Effective with the 1981-1982 fiscal year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for that parcel). The computations shown above reflect a conversion of assessed valuation data for each fiscal year from the current full valuation perspective to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California for local governments located within the state.

Fiscal Year
City of Paramount
Table 11
Legal Debt Margin Information (Continued)
Last Ten Fiscal Years
159
Loan Payable Tax Allocation Bonds
Fiscal Year Less Net Annual
Ended Water Operating Available Debt Tax
June 30 Revenue Expenses Revenue Service Coverage Increment Principal Interest Coverage 2014 7,903,731 1,551,499 6,352,232 327,133 4.74 $ - $ - $ - - 2015 7,158,201 812,402 6,345,799 327,066 2.48 - - - -
2016 7,026,709 397,110 6,629,599 326,996 1.21 - - - -
2017 7,861,016 1,261,793 6,599,223 326,923 3.86 - - - - 2018 8,003,264 549,766 7,453,498 327,018 1.68 - - - -
2019 7,805,298 1,022,139 6,783,159 431,415 2.37 - - - - 2020 7,640,124 509,566 7,130,558 643,685 0.79 - - - -
2021 7,822,230 (918,700) 8,740,930 643,535 (1.43) - - - - 2022 8,417,872 (1,140,509) 9,558,381 643,380 (1.77) - - - - 2023 8,355,545 (848,326) 9,203,871 643,220 (1.32) - - - - Notes:

Details regarding the City's outstanding debt can be found in the notes to the financial statements.

Water revenue does not include interest.

Operating expenses do not include interest or depreciation expenses.

Source:

City of Paramount
On February 1, 2012, redevelopment agencies in the State of California were eliminated and the assets and liabilities of the Paramount Redevelopment Agency were transferred to a private-purpose trust fund. The FY2012 data for the tax allocation bonds represents the final 7 months of activity for the redevelopment agency. Though the coverage is less than 100%, the debt service payment was made using available fund balance.

Debt Service
City of Paramount
Table 12
Pledged-Revenue Coverage
Last Ten Fiscal Years
160
Per
Calendar Year Personal Capita
Ended Income Personal Unemployment
December 31 Population (1) (in thousands) (2) Income (2) Rate (3) 2013 55,051 $774,898 $14,076 11.3%
2014 55,076 $788,468 $14,316 9.6%
2015 56,400 $776,609 $13,769 7.9%
2016 55,923 $830,147 $14,844 6.2%
2017 56,000 $849,607 $15,171 4.8%
2018 55,497 $913,372 $16,458 5.1%
2019 55,461 $952,036 $17,165 4.8%
2020 55,200 $985,228 $17,848 14.2%
2021 52,477 $1,068,985 $20,370 10.4%
2022 52,178 $1,135,758 $21,766 5.3%
Sources:
(1) California State Department of Finance
(2) 2004-2009: estimates of income based on the last available census; 2010 and later: most recent American Community Survey
(3) California Employment Development Department
City of Paramount
Table 13
Demographic and Economic Statistics
Last Ten Fiscal Years
161
Percent of Percent of
Number of Total Number of Total
Employer Employees Employment Employees Employment
Paramount Unified School District 2,071 17.7% 1,780 12.0% Skillset Group, LLC 401 3.4% 0.0%
Weber Metals 289 2.5% 481 3.2%
Kindred Hospital / Promise Hospital 396 3.4% 565 3.8%
Wal-Mart Store # 2110 343 2.9% 259 1.7%
Ralphs Grocery #403 362 3.1% 421 2.8%
City of Paramount 317 2.7% 381 2.6%
Ittella International, Inc. 250 2.1% 0.0%
The Home Depot #1037 200 1.7% 186 1.3%
Ittella International 175 1.5% 0.0%
Carlton Forge Works 0.0% 321 2.2%
Golden State Engineering, Inc. 0.0% 230 1.5%
Paramount Meadows 188 1.3%
Total 4,804 41.0% 4,812 32.4%
Note:

Blank areas denote information that is unavailable.

Sources:

City of Paramount business license database
Paramount Unified School District Human Resources Department City of Paramount Human Resources Department
2023 2014
City of Paramount
Table 14
Principal Employers
Current Year and Nine Years Ago
162
Function 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 General Government 25.0 26.7 25.7 25.8 26.2 27.7 28.7 29.1 26.3 27.4 Community Development 8.5 8.6 8.8 9.0 9.7 9.9 9.9 9.0 10.2 10.7 Public Safety 24.9 24.1 27.7 25.2 26.4 23.6 24.6 24.4 22.2 25.0 Community Services and Recreation 81.1 81.1 84.8 88.0 78.0 72.1 69.5 68.4 59.8 57.0 Public Works 44.4 45.6 47.9 44.5 42.8 43.3 43.3 46.5 50.6 51.0 Total 183.9 186.1 194.9 192.5 183.1 176.6 176.0 177.4 169.1 171.1 Note:

The City of Paramount Water Department is included in other functions.

Source:

City of Paramount
Table 15
City of Paramount
Full-time and Part-time Employees as of June 30
Full-Time Equivalent City Employees by Function
Current Year and Nine Years Ago
163
2014 2015 2016 2017 2018
Community Development
Permits 1,292 1,260 1,438 1,245 1,315
Inspections 8,059 8,336 9,408 11,617 13,460
Public Safety:

Arrests 1,689 1,670 1,523 1,389 1,264
Parking Citations Issued 12,239 11,187 14,348 13,524 17,723 Community Services and Recreation:

Number of Recreation Classes 20 24 29 38 47
Number of Facility Rentals 591 621 683 722 724
Public Works:

Street Resurfacing (miles) 0.77 1.18 1.25 0.14 0.61
Water:

Average Daily Consumption 5,923 5,710 5,250 5,704 5,872 (thousands of gallons)
Notes:

Indicators are not available for the general government function.

Community Development data is based on a calendar year.

Blanks indicate that information is not available.

Sources:

Los Angeles Sheriff's Department Management Information System.

Various City departments.

Fiscal Year
City of Paramount
Table 16
Operating Indicators by Function
Last Ten Fiscal Years
164
2019 2020 2021 2022 2023
Community Development
Permits 1,207 907 1,135 1,052 780
Inspections 13,051 9,308 7,904 5,007 3,245
Public Safety:

Arrests 1,286 1,318 1,285 1,080 901
Parking Citations Issued 15,541 13,238 15,294 18,976 21,856 Community Services and Recreation:

Number of Recreation Classes 33 25 18 27 28
Number of Facility Rentals 580 453 57 147 312
Public Works:

Street Resurfacing (miles) 5.98 0.53 3.72 2.24 5.43
Water:

Average Daily Consumption 4,846 4,530 4,794 4,742 4,500 (thousands of gallons)
Notes:

Indicators are not available for the general government function.

Community Development data is based on a calendar year.

Blanks indicate that information is not available.

Sources:

Los Angeles Sheriff's Department Management Information System.

Various City departments.

City of Paramount
Table 16
Operating Indicators by Function (Continued)
Last Ten Fiscal Years
Fiscal Year
165
2014 2015 2016 2017 2018
Community Services and Recreation:

Parks 10 10 11 11 11
Community Centers 5 5 5 5 5
Public Works:

Streets (miles) 73 73 73 73 73
Streetlights 3,087 3,087 3,087 3,099 3,099
Traffic Signals 55 55 55 56 56
Water:

Water Mains (miles) 127 127 127 127 127
Number of Service Connections 7,351 7,356 7,378 7,398 7,414 Average Daily Consumption (gallons) 5,922,666 5,709,551 5,249,976 5,703,739 5,871,834 Plant Capacity (gallons per minute) 18,000 18,000 18,000 18,000 18,000 Note:

Indicators are not available for the community development, public safety or general government functions.

Source:

Various City departments.

Fiscal Year
City of Paramount
Table 17
Capital Assets Statistics by Function
Last Ten Fiscal Years
166
2019 2020 2021 2022 2023
Community Services and Recreation:

Parks 11 11 11 11 11
Community Centers 5 5 5 5 5
Public Works:

Streets (miles) 73 73 73 73 73
Streetlights 3,099 3,099 3,100 3,099 3,099
Traffic Signals 56 56 56 56 56
Water:

Water Mains (miles) 127 127 127 127 127
Number of Service Connections 7,429 7,374 7,381 7,506 7,129 Average Daily Consumption (gallons) 4,845,868 4,929,535 4,794,883 4,741,943 4,499,760 Plant Capacity (gallons per minute) 18,000 18,000 18,000 18,000 18,000 Note:

Indicators are not available for the community development, public safety or general government functions.

Source:

Various City departments.

Fiscal Year
City of Paramount
Table 17
Capital Assets Statistics by Function (Continued)
Last Ten Fiscal Years
167
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168
To: Honorable City Council
From: Adriana Figueroa, Public Works Director
By: Celina Sanchez, Management Analyst
Date: February 13, 2024
SUBJECT: TRAFFIC CONTROL PLAN FOR 5K/1K EVENT AND CONTRACT FOR

TRAFFIC CONTROL SERVICES

BACKGROUND
At the September 12, 2023, City Council meeting, the City Council approved the proposed 5K/1K racecourse. The 5K racecourse for runners and walkers is 3.1 miles and the 1K racecourse for walkers is .62 miles. The 5K course begins at 3rd Street on Paramount Boulevard with the finish line near All-America City Way in front of Paramount Park. The 1K course begins and ends at All-America City Way at Paramount Park. The event is scheduled for June 1, 2024.

The City provides several special events for our residents to attend that require a street closure. The California Joint Powers Insurance Authority (CJPIA) recommends the preparation and approval of a traffic control plan by the City’s traffic engineer to ensure the street closures and relevant temporary traffic signage used during the event are safe and compliant.

DISCUSSION
This upcoming year, due to the addition of the new 5K/1K event, the City has decided to seek a sole contractor to provide traffic control services for all of the City’s annual events that involve street closures. These events are: 5K/1K Event, Heritage Festival, and Tree Lighting. Having a sole contractor to provide traffic control services will save the City time and resources, while ensuring the City’s specifications and requirements are met. The term of this agreement will be for two (2) years with the option to renew administratively for two (2) one-year extensions. This will allow the City an opportunity to evaluate the effectiveness during this period.

Since the 5K/1K event is new and requires street closures, our contract Traffic Engineer prepared the attached traffic control plan for the event. That traffic control plan requires approval by the City Council to proceed with the closure. Therefore, this report is a twopart agenda report: approval of the traffic control plan for the new 5K/1K event and an award of contract for traffic control services.

Agenda Report February 13, 2024
TRAFFIC CONTROL PLAN/TRAFFIC CONTROL SERVICES Page 2
On Thursday, January 11, 2024, the City published the Request for Proposals in the Paramount Journal and on the City’s website.

On Thursday, February 1, 2024, the Director of Public Works opened and examined the bids for Traffic Control Services. The bids were opened at 11:00 AM at the City Yard.

Two (2) bids were received, and the apparent low bid submitted by Statewide Traffic Safety and Signs, Inc. DBA Statewide Safety Systems amounted to $55,355. Bids received ranged from $55,355 to $70,310.

The following is a breakdown of estimated total project costs:

Project: $55,355.00
Contingency (10%): $ 5,535.50
Total: $60,890.50

FISCAL IMPACT
Funding for this project was included in the FY 2023-24 Community Promotion Operations Budget utilizing the General Fund. The total project amount of $60,900 exceeds the already appropriated amount of $51,850. The additional $9,050 will be funded using General Fund.

Event FY24 Budget New Budget Amount
5K/1K Event $ 10,000 $ 29,700
Heritage Festival* $ 32,850 $ 16,900
Tree Lighting $ 9,000 $ 14,300
Total: $ 51,850 $ 60,900
* In prior years, the Heritage Festival also included the Heritage Parade

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 1: Safe Community - Provide a safe place to live, work, and visit.

RECOMMENDED ACTION
A. Approve the proposed traffic control plan for the 5K/1K event.

B. 1) Appropriate an additional $9,050 from the available General Fund Balance; and 2) Award the contract for the Traffic Control Services to Statewide Traffic Safety and Signs, Inc. DBA Statewide Safety Systems, Santa Ana, California, in the amount of $55,355, and authorize the Mayor or her designee to execute the agreement.

Bid Date/Time:

Project/CIP:

Company Name Amount
1 Statewide Traffic Safety and Signs,
Inc. dba Statewide Safety Systems $ 55,355
2 Hi-Way Safety Rentals, Inc. $ 70,310
3 $
4 $
5 $
6 $
7 $
8 $
9 $
10 $
11 $
12 $
13 $
14 $
15 $
16 $
17 $
18 $
19 $
20 $
2722 S. Fairview St., Santa Ana, CA
92704
13310 5th St., Chino, CA 91710

CITY OF PARAMOUNT
Bid Opening Results
Address
2/1/2024

TRAFFIC CONTROL SERVICES

1 AGREEMENT FOR TRAFFIC CONTROL SERVICES
THIS AGREEMENT (“Agreement”) is made and entered into this 13th day of February, 2024 between the City of Paramount, a municipal corporation in Los Angeles County, California, (hereinafter "CITY") and Statewide Traffic Safety and Signs, Inc. dba Statewide Safety Systems, a licensed California firm, with its primary office located at 2722 S. Fairview St., Santa Ana, California (hereinafter "CONSULTANT") (collectively, "the Parties").

RECITALS
WHEREAS, CITY and CONSULTANT each desire to enter into an Agreement whereby CONSULTANT will perform consulting services for CITY; and WHEREAS, CITY staff does not have the expertise or capacity to perform this work in-house.

NOW, THEREFORE, BE IT RESOLVED BY AND BETWEEN THE PARTIES AS FOLLOWS:

1. DESCRIPTION OF SERVICES
CONSULTANT shall perform traffic control services as more particularly described in CONSULTANT’S proposals attached hereto as Exhibit “A” and incorporated herein by reference as if fully set forth. In the event of any conflict between CONSULTANT’S proposals and this Agreement, the terms of this Agreement shall apply.

2. COMPENSATION
(a) Except as otherwise provided herein, CITY agrees to pay CONSULTANT as full compensation for all services and duties performed. The total compensation to be paid under this Agreement shall not exceed $55,355. (b) CONSULTANT will submit invoices monthly for actual services performed.

Invoices shall be submitted on or about the first business day of each month, or as soon thereafter as practical, for services provided in the previous month. Payment shall be made within thirty (30) days of receipt of each invoice as to all non-disputed fees. If the CITY disputes any of CONSULTANT's fees, it shall give written notice to CONSULTANT within thirty (30) days of receipt of an invoice of any disputed fees set forth on the invoice.

3. MATERIALS AND SUPPLIES
2 Without modifying or waiving those provisions under Section 4. hereinbelow, CITY agrees to provide office space, supplies, equipment, and support services required to maintain all records and correspondence connected with the traffic control services. No personal use of CITY equipment, supplies or services is allowed, and CONSULTANT shall comply with all CITY policies regarding use of CITY resources.

4. INDEPENDENT CONTRACTOR
A. CITY and CONSULTANT agree and represent this Agreement is entered into with the understanding CONSULTANT is not an employee of CITY and is intended, for all purposes, to have the status of independent contractor under Labor Code Section 2776.

In the event the CITY determines a legal, judicial, or administrative determination has a material effect upon the status of CONSULTANT as an independent contractor, the CITY shall have the right, with or without notice, to automatically terminate the Agreement. In the CITY’s sole discretion, the CITY may propose modification of the Agreement’s terms to permit CONSULTANT’s continued provision of services.

B. CONSULTANT is and shall at all times remain as to the CITY a wholly independent contractor. CONSULTANT shall be free from control and direction of the CITY in connection with the performance of duties, and CONSULTANT retains exclusive discretion in how to perform duties, subject to other terms and conditions of this Agreement. The personnel performing the services under this Agreement on behalf of CONSULTANT shall at all times be under CONSULTANT's exclusive direction and control. Neither CITY nor any of its officers, employees, or agents shall have control over the conduct of CONSULTANT or any of CONSULTANT's officers, employees, or agents, except as set forth in this Agreement.

C. CONSULTANT shall not at any time or in any manner represent that it or any of its officers, employees, or agents are in any manner officers, employees, or agents of the CITY. CONSULTANT shall not incur or have the power to incur any debt, obligation, or liability whatsoever against CITY, or bind CITY in any manner.

D. No employee benefits shall be available to CONSULTANT in connection with the performance of this Agreement. Except for the fees paid to CONSULTANT as provided in the Agreement, CITY shall not pay salaries, wages, or other compensation to CONSULTANT for performing services hereunder for CITY. CITY shall not be liable for compensation or indemnification to CONSULTANT for injury or sickness arising out of performing services hereunder.

5. TERM OF AGREEMENT
The term of this Agreement shall be for two (2) years with the option to renew administratively for two (2) one-year extensions effective from February 13, 2024 or upon reaching the "not-to-exceed" compensation amount, whichever occurs first. This Agreement may be terminated by giving written notice to the other party of that party's 3 intention to so terminate. This Agreement shall be terminated thirty (30) days from and after the date of delivery or mailing of a notice of cancellation by either party, unless the notice specifies otherwise.

6. TERMINATION OF AGREEMENT WITHOUT CAUSE
A. Except as otherwise provided in Section 4. hereinabove, either party may terminate this Agreement, or any portion hereof, by serving upon the other party at least ten (10) days prior written notice. Upon receipt of said notice, the CONSULTANT shall immediately cease all work under this Agreement, unless the notice provides otherwise. If a portion of this Agreement is terminated, such termination shall not make void or invalidate the remainder of this Agreement.

B. In the event this Agreement is terminated pursuant to this Section, the CITY shall pay to CONSULTANT the actual value of the work performed up to the time of termination. Upon termination of the Agreement, pursuant to this Section, the CONSULTANT will submit an invoice to the CITY pursuant to Section 2. of this Agreement.

7. DEFAULT
A. Either party's failure to comply with the provisions of this Agreement shall constitute a default. In the event that either party is in default for cause under the terms of this Agreement, the affected party shall promptly notify the deficient party of such default and following such notice shall have no obligation or duty to continue compensating or providing any work after the date of default and can terminate this Agreement immediately by written notice to the other party. If such failure hereunder arises out of causes beyond either party’s control, and without fault or negligence, it shall not be considered a default.

B. If CITY determines the CONSULTANT is in default in the performance of any of the terms or conditions of this Agreement, the CITY shall cause to be served upon the CONSULTANT a written notice of the default. The CONSULTANT shall have ten (10) days after service of default notice to cure the default as directed by the CITY in the notice. In the event the CONSULTANT fails to cure its default within such period of time, the CITY shall have the right, notwithstanding any other provision of this Agreement, to terminate this Agreement without further notice and without prejudice to any other remedy to which it may be entitled at law, in equity or under this Agreement.

8. AMENDMENT
Except as otherwise stated herein, any and all obligations of CITY and CONSULTANT are fully set forth and described in this Agreement. Any changes in this Agreement, including any increase or decrease in the amount of compensation or any change in the term, which shall be mutually agreed upon by and between CITY and CONSULTANT, shall be set forth in written amendments to this Agreement.

9. NONDISCRIMINATION
4 (a) CONSULTANT shall not discriminate in the conduct of the work under this Agreement against any employee, applicant for employment, or volunteer on the basis of race, religious creed, color, national origin, ancestry, physical or mental disability, marital status, pregnancy, sex, age, sexual orientation or other prohibited basis. (b) Consistent with CITY’s policy that harassment and discrimination are unacceptable employer/employee conduct, CONSULTANT agrees that harassment or discrimination directed toward a job applicant, a City employee, or a citizen by CONSULTANT or CONSULTANT’s employee or subcontractor on the basis of race, religious creed, color, national origin, ancestry, physical or mental disability, marital status, pregnancy, sex, age, sexual orientation or other prohibited basis will not be tolerated. CONSULTANT agrees that any and all violation of this provision shall constitute a material breach of the Agreement.

10. INDEMNIFICATION
CONSULTANT shall indemnify, defend, and hold harmless the CITY, and its officers, employees, and agents (“Indemnitees”), from and against any and all causes of action, claims, liabilities, obligations, judgments, or damages, including reasonable attorney’s fees and costs of litigation, arising out of the CONSULTANT’s performance under this Agreement or out of the work performed by CONSULTANT, including the CITY’s active or passive negligence, except for such loss or damage arising from the sole negligence or willful misconduct of the CITY. In the event the Indemnitees are made a party to any action, lawsuit, or other adversarial proceeding arising from CONSULTANT’s performance of this Agreement, the CONSULTANT shall provide a defense to the Indemnitees or at the CITY’s option, reimburse the Indemnitees their costs of defense, including reasonable attorney’s fees, incurred in defense of such claims.

Payment by CITY is not a condition precedent to enforcement of this indemnity. In the event of any dispute between CONSULTANT and CITY, as to whether liability arises from the sole negligence of the CITY or its officers, employees, or agents, CONSULTANT will be obligated to pay for CITY’s defense until such time as a final judgment has been entered adjudicating the CITY as solely negligent. CONSULTANT will not be entitled in the absence of such a determination to any reimbursement of defense costs including but not limited to attorney’s fees, expert fees, and costs of litigation.

11. LEGAL RESPONSIBILITIES
The CONSULTANT shall keep informed of state and federal laws and regulations which in any manner affect those employed by it or in any way affect the performance of services pursuant to this Agreement. The CONSULTANT shall at all times observe and comply with all such laws and regulations. The CITY, and its officers and employees, shall not be liable at law or in equity occasioned by failure of the CONSULTANT to comply with this Section.
5 12. INSURANCE
(a) Required Coverage. Without limiting CONSULTANT's indemnification, it is agreed that CONSULTANT shall maintain in force at all times during the term of this Agreement the following types of insurance providing coverage on an "occurrence" basis.

Said insurance, with the exception of Worker’s Compensation and Errors & Omissions Liability, shall name the CITY as additional insureds and evidence of said insurance shall be delivered to CITY in certificate and endorsement forms acceptable to the CITY prior to execution of this Agreement.
☒ Commercial general liability and property damage insurance. Coverage:
$1,000,000 per occurrence. The general aggregate limit shall be twice the required occurrence limit.
☒ Worker’s Compensation insurance to cover its employees as required by the Labor Code of the State of California. CONSULTANT’s worker’s compensation insurance shall include the following language: “All rights of subrogation are hereby waived against the CITY, its officers and employees when acting within the scope of their appointment or employment.” In the event any class of employees engaged in hazardous work under this Agreement is not protected under Workers’ Compensation Statutes, the CONSULTANT shall provide adequate and suitable insurance for the protection of its employees not otherwise protected. ☒ E&O/ Professional’s Liability, errors and omissions liability insurance appropriate to the CONSULTANT’s profession. Coverage: $1,000,000 per Claim. (b) General Provisions.
(i) CONSULTANT shall obtain insurance acceptable to the CITY in a company or companies admitted in California and with a Best rating of no less than A VII or as acceptable to the CITY. The endorsements, naming the CITY as an additional insured, are to be signed by a person authorized by CONSULTANT’s insurer to bind coverage on its behalf.
(ii) It shall be a requirement under this contract that any available insurance proceeds broader than or in excess of the specified minimum insurance coverage requirements and/or limits shall be available to the Additional Insured.

Furthermore, the requirements for coverage and limits shall be (1) the broader coverage and maximum limits specified in this contract; or (2) the broader coverage and maximum limits of coverage of any insurance policy or proceeds available to the named insured; whichever is greater.
(iii) The limits of insurance required in the Agreement may be satisfied by a combination of primary and umbrella or excess insurance. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non-contributory basis for the benefit 6 of the CITY (if agreed to in a written contract) before the CITY’s own insurance or self-insurance shall be called upon to protect it as a named insured. (iv) Any failure to comply with reporting provisions of the policies shall not affect coverage provided to the CITY, its elected or appointed officers, officials, employees, agents or volunteers.
(v) The insurance provided by these policies shall not be suspended, voided, canceled, or reduced in coverage or in limits except after thirty days written notice has been received by the CITY.
(c) Additional Insured. The CITY will be named as an additional insured for all liability arising out of the operations by or on behalf of the named insured, and this policy protects the additional insured, its officers, agents and employees against liability for personal and bodily injuries, deaths or property damage or destruction arising in any respect, directly or indirectly, in the performance of the contract. (i) Each such policy shall be endorsed with the following language:

The City of Paramount, its elected or appointed officers, officials, employees and volunteers are included as insureds with regard to damages and defense of claims arising from: (a) activities performed by or on behalf of the Named Insured, including the insured's general supervision of the Named Insured, (b) products and completed operations of the Named Insured, or (c) premises owned, leased or used by the Named Insured.
(ii) This policy shall be considered primary insurance as respects the CITY, its elected or appointed officers, officials, employees, agents and volunteers. Any insurance maintained by the CITY, including any self-insured retention the City may have, shall be considered excess insurance only and shall not contribute with it.
(iii) The inclusion of more than one insured shall not operate to impair the rights of one insured against another insured, and the coverages afforded shall apply as though separate policies had been issued to each insured. (iv) The Additional Insured coverage under the CONSULTANT’s policy shall be primary and non-contributory and will not seek contribution from the CITY’s insurance or self-insurance and shall be at least as broad as CG 20 01 04

13. (d) Deductibles and Self-Insured Retentions. All self-insured retentions (SIR) must be disclosed to the CITY’s Risk Management for approval and shall not reduce the limits of liability. At the option of CITY, either: the insurer shall reduce or eliminate such deductibles or self-insurance retention as respects the CITY, its officers, officials, agents, employees and volunteers; or CONSULTANT shall procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses. 7 Policies containing any self-insured (SIR) provision shall provide or be endorsed to provide that the SIR may be satisfied by either the named insured or the CITY. The CITY reserves the right to obtain a full certified copy of any insurance policy and endorsements.

Failure to exercise this right shall not constitute a waiver of the right to exercise later.

13. NOTICES
Any notices which either party may desire to give to the other party under this Agreement must be in writing and may be given either by:
(i) personal service,
(ii) delivery by a reputable document delivery service (e.g., Federal Express), which provides a receipt showing date and time of delivery, or (iii) United States mail, certified mail, postage prepaid, return receipt requested, addressed to the party as set forth below or at any other address as that party may later designate by notice:

To CITY: City of Paramount
16400 Colorado Blvd
Paramount, CA 90723
To CONSULTANT: Statewide Traffic Safety and Signs, Inc. dba Statewide Safety Systems
2722 S. Fairview St.

Santa Ana, CA 92704

14. ASSIGNMENT
(a) CONSULTANT shall not assign the performance of this Agreement, nor any part thereof, nor any monies due hereunder, without prior written consent of the CITY.

Due to the personal nature of the services to be rendered pursuant to this Agreement, only CONSULTANT shall perform the services described in this Agreement. (b) CONSULTANT may use assistants, under CONSULTANT’s direct supervision, to perform some of the services under this Agreement. CONSULTANT hereby agrees to be solely responsible for any assistant used under this Agreement and each assistant is bound by the terms of this Agreement. CONSULTANT shall have each assistant confirm in writing they are familiar with the terms of this Agreement and agrees to be bound by the terms and conditions set forth herein.

15. PERMITS AND LICENSES
CONSULTANT will obtain and maintain during the term of this Agreement all necessary permits, licenses, and certificates that may be required in connection with the performance of services under this Agreement.

8 16. CITY BUSINESS LICENSE
In addition to any other permits or licenses, CONSULTANT shall obtain, maintain and comply with the requirements for a current City business license during the term of this Agreement.

17. GOVERNING LAW
The CITY and CONSULTANT understand and agree that the laws of the State of California shall govern the rights, obligations, duties, and liabilities of the parties to this Agreement and also govern the interpretation of this Agreement. Any litigation concerning this Agreement shall take place in the municipal, superior, or federal district court with jurisdiction over the CITY.

18. ENTIRE AGREEMENT
This Agreement contains the entire understanding between the parties relating to the obligations of the parties described in this Agreement. All prior or contemporaneous agreement, understandings, representations, and statements, oral or written, are merged into this Agreement and shall be of no further independent force or effect. Each party is entering into this Agreement based solely upon the representations set forth herein and upon each party's own independent investigation of any and all facts such party deems material.

19. SEVERABILITY
Any part, provision, or representation of this Agreement or any of its exhibits, including, but not limited to Exhibit “A” and Exhibit “B”, which is prohibited or which is held to be void or unenforceable by a court of competent jurisdiction, shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof.

20. AUTHORITY TO EXECUTE THIS AGREEMENT
The person or persons executing this Agreement on behalf of CONSULTANT warrants and represents that it has the authority to execute this Agreement on behalf of the CONSULTANT and has the authority to bind CONSULTANT to the performance of its obligations hereunder.

21. This Agreement shall be deemed to have been executed and entered into in the City of Paramount, County of Los Angeles, and State of California.

SIGNATURES ON FOLLOWING PAGE
9 IN WITNESS WHEREOF, the undersigned execute this Agreement on the date first written above.

Statewide Traffic Safety and Signs, Inc.
dba Statewide Safety Systems
BY: ________________________
Title: ________________________

CITY OF PARAMOUNT
A Municipal Corporation
By: _______________________
City Manager
RECOMMENDED BY:
_______________________________
Adriana Figueroa

PUBLIC WORKS DIRECTOR
APPROVED AS TO FORM:
________________________
John E. Cavanaugh

CITY ATTORNEY
10 EXHIBIT A

To: Honorable City Council
From: John Moreno, City Manager
By: David Johnson, Community Services
Director
Date: February 13, 2024
SUBJECT: AGREEMENT WITH VIDIFLO, LLC FOR AUDIO SYSTEM RENOVATION

AT THE PARAMOUNT PARK GYMNASIUM

BACKGROUND
The Paramount Park Gymnasium is a community recreational asset used by the City for youth sports, adult sports and special events and is also used by the Paramount Park Middle School for physical education and sports. The audio or sound system in the gym is the same equipment dating back to when the gym was originally built and is no longer functioning. The renovation of the Paramount Gymnasium has already gone through two phases of improvements: the renovation of the restrooms and the renovation of the gym floor. The gym is now in the third phase of necessary improvements which will include the modernization of the audio system and replacement of the gym curtain.

DISCUSSION
Staff is recommending that Vidiflo, LLC (Vidiflo) provide the technical services to upgrade and install the audio system at the Paramount Park Gymnasium. Based in Long Beach, CA, Vidiflo has over 25 years of experience in audio/visual system installations and renovations and has been the City’s primary audio/visual contractor for over three years.

Vidiflo has performed the renovations to the audio/visual systems of the City Council Chamber, Mariposa Center, the Clearwater Building, and Progress Plaza Auditorium.

Vidiflo has a proven reputation for delivering high quality products and service. They are responsive when the City requires on-call assistance, and they offer a high level of technical expertise at reasonable prices. For functionality and redundancy purposes, it is important that City audio/visual systems in all facilities remain consistent with Vidiflo’s proprietary program coding to ensure competitive economy of scale pricing for service, repair, and equipment. In addition to their competitive rates, Vidiflo charges no service fees when responding to technical issues with the audio/visual systems.

Vidiflo’s cost to install a new audio system in the Paramount Park Gymnasium is $47,435.

The budget for the audio system renovations at the Paramount Park Gymnasium is $75,000 and is included in the FY 2023-24 Capital Improvement Projects Budget.

Agenda Report February 13, 2024
AGREEMENT WITH VIDIFLO Page 2
Pursuant to Paramount Municipal Code Section 3.12.070, this acquisition is exempt from competitive bidding due to the unique equipment required to match existing equipment to facilitate effective maintenance and support. However, City Council approval is required for all contracts for professional services when the cost of the services is over $40,000.

For purposes of this project, we will utilize the City’s standard professional services agreement that has been approved by the City Attorney.

FISCAL IMPACT
Funding for this project is included in the FY 2023-24 Capital Improvements Projects Budget.

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity, and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 2: Community Health - Provide diverse recreational and cultural amenities that support healthy lifestyles and a sense of community. 5: Attractive and Well-Maintained Infrastructure - Develop and maintain City-owned infrastructure, parks, facilities, and amenities that enhance quality of life and the attractiveness of the community.

RECOMMENDED ACTION
Approve the agreement with Vidiflo, LLC in the amount of $47,435 for the renovation of the audio system at the Paramount Park Gymnasium and authorize the City Manager to execute the agreement.

SERVICE AGREEMENT BY AND BETWEEN THE

CITY OF PARAMOUNT
AND

VIDIFLO

FOR GYM AUDIO SYSTEM IMPROVEMENTS
THIS AGREEMENT is made and entered into this 13th day of February, 2024 by and between the CITY OF PARAMOUNT, hereinafter referred to as the “CITY,” and VIDIFLO, hereinafter referred to as the “CONTRACTOR.”
I. RECITAL
A. PURPOSE. The purpose of this AGREEMENT is to allow the CITY to procure the services of a qualified audio technician to provide a new sound system for the Paramount Park Gymnasium and to have these contractor services based upon the terms and conditions hereinafter set forth.

II. TERMS AND CONDITIONS
A. MISSION. The CITY hereby retains the CONTRACTOR in the capacity as contractor and the CONTRACTOR hereby accepts such responsibility as described herein.

B. TERMS. This AGREEMENT shall commence as of 13th day of February, 2024 and shall remain in full force and effect until such time either party gives written notice of termination in accordance with those provisions set forth in paragraph P. At the time of such extensions, this AGREEMENT shall be amended as to the changes, if any, in the terms, responsibilities and compensation as determined in writing between the CITY and CONTRACTOR.

C. SCOPE OF SERVICES. Under the supervision of the Director of Community Services or his designee, the CONTRACTOR shall provide all services as detailed in the CONTRACTOR’s proposal “Paramount Park Gym – Audio System Statement of Work & Costing” dated January 1, 2024 attached herein as Exhibit “A”. In the event of any conflict between the provisions of this AGREEMENT and Exhibit “A,” the terms of this AGREEMENT shall prevail.

D. COMPENSATION. During the term of this AGREEMENT, the CITY shall compensate the CONTRACTOR for the services described as detailed in both Exhibit “A”.

Invoices for payment shall be submitted on a monthly basis and shall be approved by the Director of Community Services or designee.

The CONTRACTOR shall submit an itemized invoice to the CITY according to work progress, setting forth the work performed and the rates charged in accordance with the contractor’s fee schedule.

All change orders, additions, deletions or adjustments to the CONTRACTOR’s specifications must be submitted in writing to the CITY for approval. The CITY is the sole City of Paramount
SERVICE AGREEMENT Page 2
authority regarding change orders and the CONTRACTOR shall not change, alter, or delete, in any manner, any portion of these specifications of the CITY.

E. EXPENSES. CONTRACTOR shall not be entitled to an expense account and shall not be required or permitted to incur expenses on behalf of the CITY in addition to the expenses required for completion of the scope of services described herein. The compensation described herein includes provision for all CONTRACTOR expenses required to complete the scope of services described herein.

F. INDEPENDENT CONTRACTOR.
(a) CONTRACTOR is and shall at all times remain as to the City a wholly independent CONTRACTOR. The personnel performing the services under this Agreement on behalf of CONTRACTOR shall at all times be under CONTRACTOR'S exclusive direction and control. Neither City nor any of its officers, employees, or agents shall have control over the conduct of CONTRACTOR or any of CONTRACTOR'S officers, employees, or agents, except as set forth in this Agreement. CONTRACTOR shall not at any time or in any manner represent that it or any of its officers, employees, or agents are in any manner officers, employees, or agents of the City. CONTRACTOR shall not incur or have the power to incur any debt, obligation, or liability whatever against City, or bind City in any manner.
(b) Neither CONTRACTOR, nor any of CONTRACTOR’S officers, employees or agents, shall obtain any rights to retirement, health care or any other benefits which may otherwise accrue to City’s employees. CONTRACTOR expressly waives any claim CONTRACTOR may have to any such rights. (c) City shall not be liable for compensation or indemnification to CONTRACTOR for injury or sickness arising out of performing services hereunder.

G. INDEMNIFICATION.
(a) All officers, agents, employees, sub-Contractors, their agents, officers and employees who are hired by or engaged by CONTRACTOR in the performance of this Agreement shall be deemed officers, agents and employees and subContractors of CONTRACTOR, and City shall not be liable or responsible to them for anything whatsoever.
(b) CONTRACTOR agrees to indemnify, hold harmless the City and all of its elected and appointed boards, commissions, officers employees and agents from all claims, damages, costs or expenses in law and in equity, including costs of suit and expenses for legal services, that may at any time arise or be claimed because of damage to property or injury to persons, including City, but only to the extent caused by the negligent act or omission on the part of CONTRACTOR City of Paramount
SERVICE AGREEMENT Page 3
or any of its agents, officers and employees and sub-Contractors in the performance of this Agreement.
(c) CONTRACTOR shall not be deemed to assume any liability for wrongful or negligent acts of City or its officers, agents, employees and sub-Contractors, and City shall defend and hold CONTRACTOR harmless against any such claims.
(d) CONTRACTOR agrees to defend, indemnify and hold harmless the City, its elected and appointed boards, commissions, officers, employees and agents from all claims, demands, liability fines and penalties made by CONTRACTOR’S employees from health, retirement or other benefits attributable to services performed pursuant to this Agreement.

H. SUCCESSOR AND ASSIGNMENT. The services as contained herein are to be rendered by the CONTRACTOR whose name is as appears first above written and said CONTRACTOR shall not assign nor transfer any interest in this AGREEMENT without the prior written consent of the CITY. Claims for money by CONTRACTOR from the CITY under this contract may be assigned to a bank, trust company, or financial institution without such approval. Written notice of any such assignment or transfer shall be furnished promptly to the CITY.

I. INSURANCE. Without limiting the CONTRACTOR’S indemnification of the CITY, the CONTRACTOR shall provide and maintain at this own expense during the term of this AGREEMENT for the following programs of insurance covering his operation hereunder. Each program of insurance, except professional liability insurance shall name the CITY as “Additionally Insured” and each policy shall contain a provision that such insurance will not be cancelled, nor any change whatsoever made in policies, except upon not less than thirty (30) days prior notice to the CITY, mailed by registered mail with postage prepaid. Such insurance shall be provided by the CONTRACTOR satisfactory to the CITY and evidence of such programs satisfactory to the CITY shall be delivered to the CITY on or before the effective date of this AGREEMENT.

General Liability. A program including, but not limited to, comprehensive general liability including automobile coverage with a combined single limit of not less than $1,000,000.00 per occurrence. Such insurance shall be primary to and not contributing with any other insurance maintained by the CITY. The issuer shall be an “admitted surety insurer” duly authorized to transact business under the laws of the State of California.

Acceptable insurance coverage shall be placed with carriers admitted to write insurance in California with a rating of A:VIII by A.M. Best & Co. Any deviation from this rule shall require specific approval in writing from the City.

Insurance shall name the City of Paramount, its officers, agents, and employees as additional insured by endorsement of the Contractor’s policy. A copy of the endorsement, showing policy limit, shall be provided to the City on or before signing this contract.

City of Paramount
SERVICE AGREEMENT Page 4
Failure on the part of the CONTRACTOR to procure or maintain required insurance shall constitute a material breach of this AGREEMENT upon which the CITY will immediately terminate this AGREEMENT.

Worker’s Compensation Coverage. State statutory limits, deductibles, self-insurance retention, or similar forms of coverage limitations or modifications must be declared to and approved by CITY.

Automobile Liability Insurance. In an amount not less than Five Hundred Thousand Dollars ($500,000) combined single limit per accident for bodily injury and property damage covering owned, non-owned and hired vehicles.

J. COMPLIANCE WITH LAWS. The parties agree to be bound by applicable federal, state and local laws, regulations and directives as they pertain to the performance of this AGREEMENT.

K. SEVERABILITY. In the event that any covenant, condition or other provisions herein contained is held to be invalid, void or illegal by any court of competent jurisdiction, the same shall be deemed severable from the remainder of the AGREEMENT and shall in no way affect, impair or invalidate any other covenant, condition or other provision contained herein. If such condition, covenant or other provision shall be deemed invalid due to its scope or breadth, such covenant, condition or other provision shall be deemed valid to the extent of the scope or breadth permitted by law.

L. INTERPRETATION. No provision of this AGREEMENT is to be interpreted for or against either party because that party or that party’s legal representative drafted such provision, but this AGREEMENT is to be construed as if it were drafted by both parties hereto.

M. ENTIRE AGREEMENT. This AGREEMENT supersedes any and all other agreements, either oral or in writing, between the parties hereto with respect to the retention of CONTRACTOR by the CITY and contains all the covenants and agreements between the parties with respect to such retention.

N. WAIVER. No breach of any provision hereof can be waived unless in writing.

Waiver of any one break of any provision shall not be deemed to be a waiver of any other breach of the same or any other provision hereof.

O. CONTRACT EVALUATION AND REVIEW. The ongoing assessment and monitoring of this AGREEMENT is the responsibility of the City Manager, or his designee.

P. TERMINATION OF AGREEMENT. This AGREEMENT may be terminated by either party by giving written notice at least thirty (30) days prior to the effective termination date in the written notice. In such event, all finished or unfinished documents, data, studies, surveys, drawings, maps, models, photographs and reports prepared by the CONTRACTOR under this AGREEMENT shall, at the option of the CITY, becomes its property and the CONTRACTOR shall be entitled to receive just and equitable compensation for any work satisfactorily completed hereunder. Notwithstanding the above, the CONTRACTOR shall not be relieved of City of Paramount
SERVICE AGREEMENT Page 5
liability to the CITY for damages sustained by the CITY by virtue of any breach of the AGREEMENT by the CONTRACTOR, and the CITY may withhold any payments to the CONTRACTOR for the purpose of set-off until such time as the exact amount of damages due the CITY from the CONTRACTOR is determined.

Q. CHANGES. The CITY or CONTRACTOR may request changes in the scope of the services of the CONTRACTOR to be performed hereunder. Such changes, including any increase or decrease in the amount of the CONTRACTOR’S compensation, which are mutually agreed upon by and between the CITY and the CONTRACTOR, shall be incorporated in written amendments to this AGREEMENT.

R. REPORTS AND INFORMATION. CONTRACTOR, at such times and in such forms as the CITY may require, shall furnish the CITY such periodic reports as it may request pertaining to work or services undertaken pursuant to this AGREEMENT, the costs and obligations incurred or to be incurred in connection therewith, and any other matters covered by this AGREEMENT.

S. RECORDS AND AUDITS. CONTRACTOR shall maintain accounts and records, including personnel, property and financial records, adequate to identify and account for all costs pertaining to this AGREEMENT, and such other records as may be deemed necessary by the CITY to assure proper accounting for all project funds, both federal and non-federal shares. These records will be made available for audit purposes to the CITY or any authorized representative, and will be retained for five (5) years after the expiration of this AGREEMENT unless permission to destroy them is granted by the CITY.

T. FINDINGS CONFIDENTIAL. All of the reports, information, data, etc., prepared or assembled by the CONTRACTOR under this AGREEMENT are confidential and the CONTRACTOR agrees that they shall not be made available to any individual or organization without the prior written approval of the CITY.

U. COPYRIGHT. No report, maps, or other documents produced in whole or in part under this AGREEMENT shall be the subject of an application for copyright by or on behalf of the CONTRACTOR.

V. PERSONNEL. CONTRACTOR represents that it has, or will secure at its own expense, all personnel required in performing the services under this AGREEMENT. Such personnel shall not be employees of or have any contractual relationship with the CITY. All of the services required hereunder will be performed by CONTRACTOR or under its supervision and all personnel engaged in the work shall be fully qualified and shall be authorized or permitted under the state and local law to perform such services. None of the work or services subcontracted hereunder shall be specific by written contract or agreement and shall be subject to each provision of this AGREEMENT.

III. EQUAL EMPLOYMENT OPPORTUNITY
During the performance of this AGREEMENT, the CONTRACTOR agrees as follows:

City of Paramount
SERVICE AGREEMENT Page 6
A. EQUAL OPPORTUNITY.
(a) The CONTRACTOR will not discriminate against any employee or applicant for employment because of race, creed, sex, color, or national origin. The CONTRACTOR will take affirmative action to ensure that applicants are employed, and that employees are treated during employment, without regard to their race, creed, sex, color, or national origin. Such action shall include, but not be limited to the following: employment, upgrading, demotion, or transfer; recruitment or recruitment advertising; layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. The CONTRACTOR agrees to post in conspicuous places, available to employees and applicants for employment, notices to be provided by the CITY setting forth the provisions of this non-discrimination clause.
(b) The CONTRACTOR will, in all solicitation or advertisements for employees placed by or on behalf of the CONTRACTOR, state that all qualified applicants will receive consideration for employment without regard to race, creed, color, sex, or national origin.
(c) The CONTRACTOR will cause the foregoing provisions to be inserted in all subcontracts for any work covered by this AGREEMENT so that such provisions will be binding upon each subcontractor, provided that the foregoing provisions shall not apply to contracts or subcontracts for standard commercial supplies or raw materials.
(d) The CONTRACTOR will comply with all provisions of Executive Order 11246 of September 24, 1965, and of the rules, regulations, and relevant orders of the Secretary of Labor.
(e) The CONTRACTOR will furnish all information and reports required by Executive Order 11246 of September 24, 1965, and by the rules, regulations, and orders of the Secretary of Labor, or pursuant thereto, and will permit access to his books, records, and accounts by the CITY and the Secretary of Labor for purposes of investigation to ascertain compliance with such rules, regulations, and orders. (f) In the event of the CONTRACTOR’S non-compliance with the equal opportunity clauses of this AGREEMENT or with any of such rules, regulations, or orders, this AGREEMENT may be canceled, terminated, or suspended in whole or in part and the CONTRACTOR may be declared ineligible for further government contracts in accordance with procedures authorized in Executive Order 11246 of September 24, 1965, and such sanctions may be imposed and remedies invoked as provided in Executive Order 11246 of September 24, 1965, or by rule, regulation, or order of the Secretary of Labor, or as otherwise provided by law. (g) The CONTRACTOR will include the provisions of paragraphs (1) through (6) in every subcontract or purchase order unless exempted by rules, regulations, or orders of the Secretary of Labor issued pursuant to Section 204 of Executive Order 11246 of September 24, 1965, so that such provisions will be binding upon City of Paramount
SERVICE AGREEMENT Page 7
each subcontractor or vendor. The CONTRACTOR will take such action with respect to any subcontract or purchase order as the CITY may direct as a means of enforcing such provisions, including sanctions for non-compliance; provided, however, that in the event the CONTRACTOR becomes involved in, or is threatened with, litigation with a subcontractor or vendor as a result of such direction by the CITY, the CONTRACTOR may request the United States to enter into such litigation to protect the interests of the United States.

B. CIVIL RIGHTS ACT OF 1964. Title VI of the Civil Rights Act of 1964, provides that no person shall, on the grounds of race, color, or national origin, be excluded from participation in, be denied the benefits of or, be subjected to discrimination under any program or activity receiving Federal financial assistance.

C. AGE AND DISABILITY. Any prohibition against discrimination on the basis of age under the Age Discrimination Act of 1975, or with respect to an otherwise qualified handicapped individual, as provided in Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, shall apply to this AGREEMENT.

IV. CONFLICT OF INTEREST
During the performance of this AGREEMENT, the CONTRACTOR agrees as follows:

A. INTEREST OF MEMBERS OF THE CITY. No member of the governing body of the CITY and no other employee, or agent of the CITY who exercises any functions of responsibilities in connection with the planning and carrying out of the program, shall have any personal financial interest, direct or indirect, in this AGREEMENT.

B. INTEREST OF CONTRACTOR. CONTRACTOR represents, warrants and agrees that he does not presently have, nor will he acquire during the term of this AGREEMENT, any interest, direct or indirect, by contract, employment or otherwise, or as a partner, joint venture or shareholder (other than as a shareholder holding a one-percent (1%) or less interest in publicly-traded companies) or affiliate with any business or business entity that has entered into any contract, subcontract, or arrangement with the CITY.

C. INTEREST OF OTHER LOCAL PUBLIC OFFICIALS. No member of the governing body of the locality and no other public official of such locality, who exercises any functions or responsibilities in connection with the planning and carrying out of the program, shall have any personal financial interest, direct or indirect, in this AGREEMENT; and the CONTRACTOR shall take appropriate steps to assure compliance.

City of Paramount
SERVICE AGREEMENT Page 8
V. NOTICES
Notices herein shall be presented in person or by certified or registered U.S. Mail, as follows:

To the CONTRACTOR: Rich Rosensweig
5318 E. 2nd St., #576
Long Beach, CA 90803
To the CITY: City of Paramount
Director of Community Services
David Johnson
16400 Colorado Avenue
Paramount, CA 90723
IN WITNESS HEREOF, the CITY and CONTRACTOR have executed this AGREEMENT as of the date first herein above set forth.

CITY OF PARAMOUNT VIDIFLO
By: By:

John Moreno, City Manager Rich Rosensweig, Owner
ATTEST:

By:

Heidi Luce, City Clerk
APPROVED AS TO FORM:

By:

John E. Cavanaugh, City Attorney
City of Paramount
SERVICE AGREEMENT Page 9
Exhibit A

VIDIFLO, LLC

AUDIOVISUAL & BROADCAST SYSTEMS
5318 E. 2nd St., #576 Long Beach, CA 90803 Page 1 of 2
562-743-3499 [email protected] Paramount Park Gymnasium Audio System City of Paramount- Paramount Park Gym – Audio System
Statement of Work & Costing
PR24010201 January 1, 2024
VIDIFLO, LLC proposes to furnish and integrate a new Audio System in the Paramount Park Gymnasium.

The system shall allow for Wireless and Wired Microphones, Auxiliary and Bluetooth Audio Sources to be mixed and amplified to new Ceiling Mounted Loudspeakers, as well as Outputs to support auxiliary audio systems. A Charging Shelf for the Wireless Mics and a Touchpanel to control the system shall be located in a lockable, wall mounted rack in the storage room adjacent to the Gym.

System to include:

1. 4 – Shure Wireless Handheld Microphones with a supercardioid polar pattern to provide superior audio gain-before-feedback.

2. 2- Shure Handheld Wired Microphones with a supercardioid polar pattern to provide superior audio gain-before-feedback.

3. 4- Floor Standing Microphone Stands.

4. A 10 x 10 x 6 inch Locking Wall Mounted Enclosure on the East Side Wall of the Gym to house the 4 Input, 4 Output Audio Connector Panel . This panel shall accept Mic or Line Level Sources.

5. A 6 x 6 x 4 Locking Wall Mounted Enclosure on the West Side of the Gym to house the Dual Mic/Line Input and Bluetooth Receiver Panels.

6. A locking, wall mounted Rack with Thermostatically Controlled Cooling Fans and Power Distribution located in the Storage Room shall have the following equipment installed:
a. A Symetrix Prism Audio Digital Signal Processor(DSP) for Mixing, Level Control, Equalization and Distribution.
b. 4- Shure Wireless Microphone Diversity Receivers.
c. A Shure Antenna Distribution Unit with 2- Wideband OmniDirectional installed in the Gym.
d. A TOA 4 x 250 Watt Per Channel and 2 x 250 Watt Per Channel Audio Power Amplifiers e. A Symetrix 10” Touch Panel Controller.
f. A 4-Channel Shure Microphone Charging Station.
g. A Network Switch for System Devices.
h. A Locking Drawer to Hold Mics and Tablet when not in use.

7. 6- QSC Loudspeakers shall be mounted on the Ceiling above Center Court positioned to cover the entire Gym.

The Touch Panel shall provide:

1. Microphone Mute and Volume Control.

2. Input Panel Phantom Power, Gain Setting and Mute and Volume Control.

3. Bluetooth Audio Mute and Volume Control.

4. Ceiling Loudspeaker Muting and Volume Control.

5. Auxiliary Audio Output Muting and Volume Control.

VIDIFLO, LLC

AUDIOVISUAL & BROADCAST SYSTEMS
5318 E. 2nd St., #576 Long Beach, CA 90803 Page 2 of 2
562-743-3499 [email protected] Paramount Park Gymnasium Audio System VIDIFLO shall provide:

1. System Diagrams to include:
a. Floor and Reflected Ceiling Plans
b. Equipment Rack Elevation
c. Audio/Power System Single Line Wiring Diagrams.

2. A Quick Reference Guide for User Control

3. 2 Hours of System Operator Training

4. 2 Hours of System Technician Training

5. One Year Warranty for System Wiring against mechanical defects.

6. Equipment Manufacturers Standard Warranties shall apply.

System installation, commissioning and training is expected to take 3-4 business days during normal Monday-Friday business hours.

The City of Paramount to provide:

1. A 110 VAC, 20 Ampere Quadruplex Power Outlet at the Wall Mounted Rack Location.

2. A Scissor Lift to reach the Ceiling in the Gym.

System Pricing
Equipment & Materials Cost $33,252.00
Sales Tax 10.25% $3,408.33
Freight $525.00
Engineering Design and CAD $850.00
Audio System DSP Programming $1,000.00
System Installation $7,900.00
Training and Documentation $500.00
Grand Total $47,435.33
Terms:
40% Deposit with Order, 40% Upon Delivery of Equipment to City, 20% Upon Completion.

This proposal shall be valid for 60 Days.

Delivery is expected to be 8-10 weeks after receipt of order.

To: Honorable City Council
From: John Moreno, City Manager
By: David Johnson, Community Services
Director
Date: February 13, 2024
SUBJECT: APPROVING APPLICATIONS FOR SPECIFIED GRANT FUNDS

BACKGROUND
Previously, the City of Paramount has received Specified Grants in the State’s budget for park renovation projects. In 2021, the City of Paramount obtained a Specified Grant allocation of $1.25 million from the Fiscal Year 2022 State of California Budget, which is allocated in the FY 2023-24 Capital Improvement Program (CIP) budget.

DISCUSSION
The Fiscal Year 2023 State of California Budget has a Specified Grant allocation of $1.85 million that the City of Paramount is able to use for “community, facilities, park or recreational facilities construction, acquisition, or improvements.” Resolution No. 24:003 authorizes the City Manager to file one or more applications for funding under this grant program until all Specified Grant funds allocated to the City of Paramount are expended.

There is no local match required for this grant.

Submittal of Resolution No. 24:003 to the State Department of Parks and Recreation will allow a contract for the use of these funds to be issued. The specific use of these funds is identified in the City’s CIP budget.

Attached is Resolution No. 24:003 which authorizes the submittal of applications using Specified Grant funds allocated in the Fiscal Year 2023 State Budget.

FISCAL IMPACT
These funds are allocated in the FY 2023-2024 CIP budget.

Agenda Report February 13, 2024
RESOLUTION NO. 24:003 Page 2

VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No 2: Community Health - Provide diverse recreational and cultural amenities that support healthy lifestyles and a sense of community and No. 5: Attractive and Well-Maintained Infrastructure - Develop and maintain City-owned infrastructure, parks, facilities, and amenities that enhance quality of life and the attractiveness of the community

RECOMMENDED ACTION
Read by title only and adopt Resolution No. 24:003.

CITY OF PARAMOUNT

LOS ANGELES COUNTY, CALIFORNIA
RESOLUTION NO. 24:003

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

PARAMOUNT APPROVING APPLICATION(S) FOR SPECIFIED GRANT
FUNDS FROM THE BUDGET ACT OF 2023, FOR THE CITY OF
PARAMOUNT CAPITAL OUTLAY.

WHEREAS, the State Department of Parks and Recreation has been delegated the responsibility by the Legislature of the State of California for the administration of a grant to the City of Paramount, setting up necessary procedures governing application(s); and
WHEREAS, said procedures established by the State Departments of Parks and Recreation require the applicant’s Governing Body to certify by resolution the approval of project application(s) before submission of said applications to the State; and WHEREAS, the applicant will enter into a contract with the State of California to complete project(s);

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARAMOUNT AS FOLLOWS:

SECTION 1. Approves the filing of project application(s) for specified grant project(s); and
SECTION 2. Certifies that said applicant has or will have available, prior to commencement of project work utilizing specified grant funds, sufficient funds, including those provided by this grant, to complete the project; and SECTION 3. Certifies that the applicant has reviewed, understands, and agrees to the General Provisions contained in the contract shown in this Procedural Guide; and SECTION 4. Delegates the authority to the City Manager, or designee to conduct all negotiations, sign and submit all documents, including, but not limited to applications, agreements, amendments, and payment requests, which may be necessary for the completion of the project scope(s); and
SECTION 5. Agrees to comply with all applicable federal, state, and local laws, ordinances, rules, regulations and guidelines.

RESOLUTION NO. 24:003