5.1% 5.9% 4.3% 3.1% 3.1% 1.4%
Fiscal Year
STATISTICAL SECTION CITY OF PASADENA
234 Annual Comprehensive Financial Report | June 30, 2022 (This page intentionally left blank)
CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive Financial Report | June 30, 2022 235 Revenue Capacity
Assessed Value and Actual Value of Taxable Property
Last Ten Fiscal Years
(in Thousands)
Fiscal Secured Homeowners Net Secured Unsecured Total Assessed Total Direct Year Valuations Exemption Valuations Valuations Valuation Tax Rate 2013 21,368,295$ (136,241)$ 21,232,054$ $ 571 ,614 21 ,803,668$ 0.24% 2014 22 ,534,203 (134,257) 22,399,946 575 ,006 22 ,974,952 0.22% 2015 23 ,756,525 (131,813) 23,624,712 608 ,539 24 ,233,251 0.25% 2016 25 ,354,224 (130,238) 25,223,986 602 ,659 25 ,826,645 0.26% 2017 26 ,599,121 (128,241) 26,470,880 625 ,032 27 ,095,912 0.30% 2018 28 ,631,957 (126,543) 28,505,414 638 ,858 29 ,144,272 0.25% 2019 30 ,388,233 (124,908) 30,263,325 662 ,995 30 ,926,320 0.23% 2020 32 ,158,077 (123,481) 32,034,595 672 ,205 32 ,706,801 0.25% 2021 34 ,107,320 (120,266) 33,987,055 676 ,673 34 ,663,728 0.25% 2022 35 ,394,651 (118,859) 35,275,793 688 ,899 35 ,964,692 0.24%
NOTE:
Amounts pertaining to the Pa s adena Community Development Commis s ion and the City have been combined.
In 1978 the voters of the Sta te of Ca l i forni a pa s s ed Propos i ti on 13 whi ch l i mi ted property ta xes to a tota l ma xi mum ra te of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased by an "inflation fac tor " (limited to a max imum inc r ease of 2 %). With few ex c eptions, pr oper ty is only r e-assessed at the time tha t it is s old to a new owner. At that point, the new a s s es s ed va lue is reas s es s ed at the purchas e price of the property s old .
The a s s es s ed valua tion da ta s hown above repres ents the only da ta currently a va ila ble with res pect to the a ctual ma rket va lue of taxable property and is subject to the limitations described above.
Source: Sta rti ng wi th FY2021, HdL Coren & Cone.
STATISTICAL SECTION CITY OF PASADENA
236 Annual Comprehensive Financial Report | June 30, 2022 Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
(Rate per $100 of assess
ed value)
2013 2014 2015 2016 2017
City Direct Rates:
Ci ty ba s ic ra te 0.1970 0.1918 0.2329 0.2290 0.2537 PCDC Succes s or Agenc y 0.0437 0.0282 0.0219 0.0331 0.0479 Total Cit y Di rect Ra te 0.2407 0.2200 0.2548 0.2621 0.3016 Overlapping Rates:
Los Angeles C ount y General 0.4266 0.4483 0.4118 0.4060 0.3647 La Canada Unified School District
Pa s a dena School Dis tri ct 0.4389 0.4379 0.4389 0.4375 0.4386 Pasadena Communit y
Col l ege Di s trict 0.1248 0.1247 0.1254 0.1254 0.1260 Me tropoli ta n Wa ter Dis trict 0.0035 0.0035 0.0035 0.0035 0.0035 Tota l Direct Ra te 1.2345 1.2345 1.2344 1.2345 1.2345 Fiscal Year
NOTE:
FY2021 da ta wa s corrected i n FY2022.
In 1978, Ca l i forni a voters pa s s ed Propos i ti on 13 whi ch s ets the property ta x ra te a t a 1.00% fi xed a mount. Thi s 1.00% i s shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, property owners a re cha rged ta xes a s a percenta ge of a s s es s ed property va lue for the payment of the va rious inter gov er nmental ov er lapping debts.
The La Ca na da Uni fi ed School Di s tri ct El ecti on of 2017 Genera l Obl i ga ti on Bonds , Seri es A, were a uthori zed a t a n elec t ion of t he r egist er ed v ot er s of t he La C anada Unified Sc hool Dist r ic t . The Bonds ar e gener al obligat ions of t he Dis trict pa yable s olely from the proceeds of ad va lorem property ta xes . The tota l a d va lorem ta x ra tes levi ed, a s a percenta ge of a s s es s ed val ua ti on, by a l l ta xi ng enti ti es i n Ta x Rate Area 4774, whi ch i ncl udes Pas a dena Area Communi ty Col l e
ge District.
Source: Sta rti ng wi th FY2021, HdL Coren & Cone a nd Los Angel es County As s es s or 2012/2013 - 2021/2022 Combi ned Ta x
CITY OF PASADENA STATISTICAL SECTION
Annual Compr
ehensive Financial Report | June 30, 2022 237
Revenue Capacity
2018 2019 2020 2021 2022
0.2178 0.2208 0.2161 0.2209 0.2201
0.0356 0.0096 0.0301 0.0335 0.0238
0.2534 0.2304 0.2462 0.2544 0.2439
0.4169 0.4396 0.4238 0.4166 0.4267
0.0579 0.0552 0.0562 0.0552
0.4359 0.4363 0.4365 0.4362 0.4370
0.1248 0.1247 0.1245 0.1238 0.1234
0.0035 0.0035 0.0035 0.0035 0.0035
1.2345 1.2924 1.2897 1.2907 1.2897
Fiscal Year
STATISTICAL SECTION CITY OF PASADENA
238 Annual Comprehensive Financial Report | June 30, 2022 Revenue Capacity
Principal Property Taxpayers
Current Year and Ten Years Ago
Percent of Percent of
Total City Total City
Total Taxable Total Taxable
Assessed Assessed Assessed Assessed
Property Owner Valuation Valuation* Valuation Valuation CSCDA Communi ty Improvement Authori ty 443,932,387$ 1.23% -$ 0.00% Kaiser Foundation Health Plan 321,107,460 0.89% 219,785,890 1.01% CPUS Pa s a dena LP 279,973,406 0.78% -
0.00%
CVFI S La ke Ave LP 267,026,342 0.74% -
0.00%
BPP Ea s t Uni on LLC 221,054,238 0.61% -
0.00%
Ca pref Pa s eo LLC Les s or 195,236,074 0.54% -
0.00%
Pa ci fi c Hunti ngton Hotel Corp 186,185,523 0.52% 155,447,726 0.71% PPF Off 100 W Wa l nut St LP 186,797,645 0.52% 170,300,000 0.78% PPF Off 74 N Ps dna Ave 173,593,670 0.48% 149,600,000 0.69% 177 Col ora do Owner LLC 169,765,333 0.47% -
0.00%
Western Asset Plaza LLC - 0.00% -
0.00%
P aseo C olor ado Holdings LL C - 0.00% 196,526,525 0.90% Leonard M Marangi Et Al Trust - 0.00% 126,600,422 0.58% Equity Office Properties Trust - 0.00% 122,837,391 0.56% Tishman Spey er Archstone Smith - 0.00% 119,399,303 0.55% SSR Paseo Colorado LLC - 0.00% 112,596,646 0.52%
TC Trio Apa rtment LLC - 0.00% 111,871,000 0.51%
Tota l pri nci pa l property ta xpa yers gros s a s s es s ed va l ue 2,444,672,078$ 6.78% 1,484,964,903$ 6.81% 2022 2013
NOTE:
The amounts shown abov e inc lude assessed v alue dat a for bot h t he C it y and the Redev elo pment A genc y.
Data is onl y pres ented for the to p ten properties in each of the two years pres ented.
Exempt values are not included in Total Cit y Tax able Assessed Valuat ion.
Source: Startin g wi th FY2021, HdL Core n & Cone . .
CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive Financial Report | June 30, 2022 239 Revenue Capacity
Property Tax Levies and Collections (1)
Last Ten Fiscal Years
Fiscal Taxes Levied Collections in
Year Ended for the Percent Subse quent Percent
June 30 Fiscal Yea r Amount of Lev y Years Amount of Lev y (2) 2013 39 ,044,561 38 ,331,579 99.63% 516 ,462 38 ,331,579 98.17% 2014 41 ,214,435 41 ,488,565 100.67% 626 ,989 41 ,488,565 100.67% 2015 43 ,784,611 53 ,950,721 123.22% * 53 ,950,721 123.22% 2016 46 ,436,623 (3) 56,653,799 122.63% * 56 ,653,799 122.63% 2017 48 ,735,223 (3) 66,159,085 134.82% * 66 ,159,085 134.82% 2018 52 ,461,971 (3) 58,934,277 112.34% 608 ,224 58 ,934,277 112.34% 2019 55 ,562,005 65 ,535,044 117.95% * 65 ,535,044 117.95% 2020 59 ,511,441 67 ,889,708 114.08% * 67 ,889,708 114.08% 2021 62 ,968,533 73 ,748,044 117.12% * 73 ,748,044 117.12% 2022 65 ,066,384 76 ,309,149 117.28% * 76 ,309,149 117.28% Collected within the
Fiscal Year of Levy Total Collections to Date
NOTE:
(1) Ex c ludes collec tions fr om P olic e Buildin g Gener al Obli gat ion Bond Assessment . (3) Ta xes Levi ed for the Fi s cal Years 2016, 2017 a nd 2018 res ta ted on Fi s ca l Yea r 2019 ta bl e. * C ollection in subse quent year information not available. (2) Thi s percentage may exceed 100% beca us e i nformati on provi ded by Tax As s es s or ma y not clearl y identify the y ear collected.
Sour c e: C ounty of Los Angeles, Depar tment of Auditor -C ontr oller , Infor mation for Rec onc iliation of
STATISTICAL SECTION CITY OF PASADENA
240 Annual Comprehensive Financial Report | June 30, 2022 Taxable Sales by Category
Last Ten Calendar Years
Category 2012 2013 2014 2015
App arel Stor es 184,547$ 196 ,947$ 189 ,018$ 191 ,081$ General Merchandise 241 ,605 232 ,768 225 ,356 221 ,751 Food Stores 110,924 114 ,250 115 ,530 117 ,323
Eatin g and Dr inkin g Pl a ces 434,310 456 ,914 483 ,920 527 ,076 Buildin g Ma teri a l s 112,297 128 ,723 139 ,840 151 ,467 Auto Dealers and Su pp lies 4 5 0,661 471 ,992 519 ,264 567 ,144 Ser v ic e Stations 18 8,688 176 ,911 170 ,434 150 ,270 Other Retail Stor es 6 0 4,517 619 ,370 613 ,975 631 ,771 All Other Outlets 844,631 844,871 882,102 849,801
Total 3,172,180$ 3 ,242,746$ 3 ,339,439$ 3 ,407,684$ Fiscal Year
NOTE:
Sources: HdL Coren & Cone, State Board of Equalization, California Department of Taxes and Fees Adminis tration, State
Due to confidentiality issues, the names of the ten largest rev enue pay ers are not av ailable. The categories presented are intended to prov ide alternativ e information regarding the sources of the City's revenue.
CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive Financial Report | June 30, 2022 241 Revenue Capacity
2016 2017 2018 2019 2020 2021
185,448$ 176 ,900$ 181 ,483$ 171 ,713$ 97 ,596$ 144 ,167$ 217,422 213 ,578 210 ,979 200 ,988 143 ,307 167 ,800
119,790 118 ,456 128 ,230 135 ,374 133 ,677 134 ,884
557,770 579 ,785 598 ,588 626 ,002 423 ,176 588 ,986
153,597 166 ,872 169 ,973 156 ,131 166 ,503 223 ,421
603,205 625 ,531 718 ,865 712 ,315 747 ,540 809 ,366
131,929 144 ,807 161 ,461 155 ,631 94 ,230 139 ,654
627,425 616 ,583 635 ,196 607 ,011 471 ,489 627 ,046
915,955 849,883 918,816 913,612 930,531 1,015,231
3,512,541$ 3,492,395$ 3,723,591$ 3,678,777$ 3,208,049$ 3,850,555$ Fiscal Year
STATISTICAL SECTION CITY OF PASADENA
242 Annual Comprehensive Financial Report | June 30, 2022 Electricity Sold by Type of Customer
Last Ten Fiscal Years
(in Megawatt-Hours)
2013 2014 2015 2016
Type of Customer:
Residential 334 ,179 316,631 324,657 326,023 Commercial and Industrial 776,816 783,878 768,735 755,510 Street Li ghts and Traffic Si gnals 15,683 13,678 13,423 13,384 Wholesales to Other Utilities 1 8 5,361 36,811 30,969 310 Other 574 - - -
Total 1,312,613 1,150,998 1,137,784 1,095,227 139.95 162.46 163.43 173.54
Fiscal Year
NOTE:
Total direct rate per megawatt hour.
Rate represents av erage cost per megawatt hour with respect to total rev enue sales from electricity .
Source: Pasadena Water and Power
CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive Financial Report | June 30, 2022 243 Revenue Capacity
2017 2018 2019 2020 2021 2022
320,280 320 ,878 325,487 319,437 344,009 333,881 720,678 709 ,597 686,614 657,633 586,683 626,935 13,368 13 ,372 13,371 12,273 11,573 11,428 - 20,719 26,868 68,714 32,496 145 - - - - - 1,297 1,054,326 1 ,064,566 1 ,052,340 1 ,058,057 974 ,761 973 ,686 178.48 179.07 174.22 173.28 191.00 195.55 Fiscal Year
STATISTICAL SECTION CITY OF PASADENA
244 Annual Comprehensive Financial Report | June 30, 2022 Revenue Capacity
Electricity Rates
Last Ten Fiscal Years
(Average Rate in Dollar per Kilowatt-Hour)
Fiscal
Year Ended Commercial Street Li ghts &
June 30* Residential & Industrial Traffic Signals
2013 0.1613 $ 0.1443$ 0.1313$
2014 0.1612 0.1442 0.1427
2015 0.1784 0.1556 0.1514
2016 0.1827 0.1582 0.1505
2017 0.1826 0.1597 0.1467
2018 0.1927 0.1684 0.1495
2019 0.1940 0.1677 0.1495
2020 0.2092 0.1867 0.1793
2021 0.2106 0.1903 0.1813
2022 0.2100 0.1880 0.1882
* FY 2013 - FY 2022 include Publ i c Benefi t Char ge (P Source: Pasadena Water and Power
CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive Financial Report | June 30, 2022 245 Revenue Capacity
Electricity Customers
Current Year
Percent of
Electricity Operating Electric
Electricity Customer Charges Revenues
P asadena Hospit al Assoc iat ion 5 , 4 6 9 , 8 4 5$ 2.41% Wa ter Department 2,647,840 1.17% California Institute of Technology 2,592,720 1.14% Street Li ghts 2,378,233 1.05% Pasadena Unified School District 2,189,101 0.97% Pa s a dena Ci ty Coll ege 2,173,750 0.96% Publi c Works 1,609,089 0.71% Kaiser Permanente 1,487,972 0.66% Metropolitan Transit Authority 1,300,726 0.57% Art Center Coll ege of Des i gn 1,243,286 0.55% 23,092,563$ 10.19%
2022
Source: Pasadena Water and Power
STATISTICAL SECTION CITY OF PASADENA
246 Annual Comprehensive Financial Report | June 30, 2022 Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Fiscal Year General Tax
Ended Obli gation Revenue Pension Certificates of Allocation June 30 Bonds Bonds Bonds Participation Bonds
2013 -$ 6,700,000$ 133,905,000$ 85,772,925$ -$ 2014 - 6,180,000 123,890,000 76,589,936 -
2015 - 5,617,649 117,184,671 73,165,019 -
2016 - 5,059,568 117,259,853 73,397,830 -
2017 - 4,501,487 117,335,939 68,275,669 -
2018 - - 117,412,025 62,967,375 -
2019 - - 117,488,112 57,635,920 -
2020 - - 136,738,949 55,477,731 -
2021 - - 134,885,718 53,219,542 -
2022 - - 132,832,487 50,866,353 -
Governmental Activities
NOTE:
*See Statistic al Sec tion - Demogr aphic and Ec onomic Infor mation sc hedule for per sonal inc ome. ***See Sta tis tica l Section - Demogra phic and Economic Informa tion s chedule for population da ta . Per Ca pita cal cul ati on corrected i n FY2022.
Begi nni ng wi th fi s ca l yea r 2019, the Ci ty i mpl emented GASB 88, s o the other compens a ted a bs ences a nd i ns ura nce c
laim liabilty amount wer e r emov ed fr om the long ter m debt sec tion.
Details regarding the City's outstanding debt can be found in the notes to the financial statements (Note 9). The amount of outstanding debt by type reported above is net of the related premiums and discounts.
**Begi nni ng wi th fi s cal yea r 2015, the Ci ty i mpl emented GASB 68, s o the pens i on l i a bi l ty a mount wa s removed from the l
on g term debt section
.
Begi nni ng wi th fi s ca l yea r 2018, the Ci ty i mpl emented GASB 75, s o the other pos t empl oyment benefi ts l i a bi l ty amount was removed from the long term debt section.
CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive
Financial Report | June 30, 2022 247
Debt Capacity
Loans Total
Notes Governmental
Payable Payable Other ** Activities
8,532,705$ 925,642$ 75,837,593$ 311,673,865$
7,542,101 561,673 89,295,467 304,059,177
6,153,430 547,411 67,172,783 269,840,963
4,838,030 6,532,849 69,774,761 276,862,891
3,360,807 6,217,983 87,229,120 286,921,005
1,844,179 5,902,803 59,668,752 247,795,134
832,685 5,587,305 - 181,544,022
6,811,926 5,271,481 - 204,300,087
-
5,876,051 4,955,325 - 198,936,636
-
4,936,710 4,638,830 - 193,274,380
(continued)
Governmental Activities
STATISTICAL SECTION CITY OF PASADENA
248 Annual Comprehensive Financial Report | June 30, 2022 Ratios of Outstanding D
ebt by Type (continued)
Last Ten Fiscal Years
Fiscal Year Capitalized Total
Ended Revenue Certificates of Lease Notes Business-type June 30 Bonds Partici pation Obli gations Pa yable Other Activities 2013 239,665,000$ 9 ,837,075$ 44,626$ 1,139,066$ 3,346,787$ 254,032,554$ 2014 304 ,245,000 8,125,064 9,096 986,804 (3,040,335) 3 10,325,629 2015 303,423,927 6,300,977 - 826,805 - 310 ,551,709 20 16 289,292,444 4,358,024 - 658,777 - 294 ,309,245 20 17 366,890,070 2,291,366 - 482,108 - 369 ,663,544 20 18 348,915,418 105,841 - 296,462 - 349 ,317,721 20 19 330,295,767 - 3,252,694 101,224 - 333 ,649,685 20 20 311,558,207 - 2,824,168 - - 314 ,382,375 20 21 306,453,348 - 2,384,123 - - 308 ,837,471 20 22 301,282,264 - 1,932,251 - - 303 ,214,515 Bu
siness-type Activities
NOTE:
*See Statistic al Sec tion - Demogr aphic and Ec onomic Infor mation sc hedule for per sonal inc ome. ***See Sta tis ti ca l Section - Demographic a nd Economic Information s chedule for popul ation da ta. Per Capita ca l cul a ti on corrected i n FY2022.
Begi nni ng wi th fi s ca l yea r 2019, the Ci ty i mpl emented GASB 88, s o the other compens a ted abs ences and i ns urance claim liabilty amount wer e r emov ed fr om the long ter m debt section.
Details rega rdi ng the City's outs ta nding debt can be found in the notes to the fi na ncia l s ta tements (Note 9). The amount of outs ta nding debt by type reported a bove is net of the rela ted premiums and discounts.
**Begi nni ng wi th fi s ca l year 2015, the Ci ty i mpl emented GASB 68, s o the pens i on l i a bi l ty amount wa s removed from the lon g term debt s ecti on
.
Begi nni ng wi th fi s ca l yea r 2018, the Ci ty i mpl emented GASB 75, s o the other pos t empl oyment benefi ts l i a bi l ty amount was removed from the long term debt section.
CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive Financial Report | June 30, 2022 249 Debt Capacity
Total Private Purpose Percenta geD ebt
Primary Long-Term of Personal Per
Government Liabilities Income * Ca pita ***
565,706,419$ 51 ,256,905$ 10.86% 4 ,040$ 614,384,806 48 ,552,905 10.34% 4 ,361 580,392,672 7 ,525,000 9.73% 4 ,118 571,172,136 16 ,553,159 9.67% 4 ,050 656,584,549 10 ,483,543 10.44% 4 ,581 597,112,855 3 ,501,092 8.86% 4 ,135 515,193,707 635 ,000 8.24% 3 ,521 518,682,462 435 ,000 8.11% 3 ,581 507,774,107 225 ,000 7.51% 3 ,495 496,488,895 - 6.96% 3 ,590
STATISTICAL SECTION CITY OF PASADENA
250 Annual Comprehensive Financial Report | June 30, 2022 Ratios of General Bonded Debt O
utstanding
Last Ten Fiscal Years
Fiscal Year General Tax
Ended Obli gation Revenue Pension Certificates of Allocation June 30 Bonds Bonds Bonds Participation Bonds Total
20 13 -$
6,700,000$ 133,905,000$ 85,772,925$ -$ 226 ,377,925$ 2014 -
6,180,000 123,890,000 76,589,936 - 206 ,659,936
20 15 -
5,617,649 117,184,671 73,165,019 - 195 ,967,339
20 16 -
5,059,568 117,259,853 73,397,830 - 195 ,717,251
20 17 -
4,501,487 117,335,939 68,275,669 - 190 ,113,095
20 18 - - 117 ,412,025 62,967,375 - 180 ,379,400 20 19 - - 117 ,488,112 57,635,920 - 175 ,124,032 20 20 - - 136 ,738,949 55,477,731 - 192 ,216,680 20 21 - - 134 ,885,718 53,219,542 - 188 ,105,260 20 22 - - 132 ,832,487 50,866,353 - 183 ,698,840 Ou
tstanding General Bonded Debt
NOTE:
**See Statistical Sect ion - Demogr aphic and Economic Infor mat ion sc hedule for population data. P er C apita cal cul ati on corrected i n FY2022.
Details regarding the City's outs ta nding debt ca n be found in the notes to the financial s tatements (Note 9). The amount of outstanding debt by type reported above is net of the related premiums and discounts.
General bonded debt is debt payable with governmental fund resources and general obligation bonds recorded in enterprise funds, of which, the City has none.
*See Sta tis tical Section - Revenue Ca pa city - As s es s ed Va lue a nd Es tima ted Actua l Va lue of Taxable Property schedule for assessed values of taxable property.
CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive Financial Report | June 30, 2022 251 Debt Capacity
Percent of
Total City
Restricted Taxable
Net Assets for Net Assessed Per
Debt Service Bonded Debt Valuation* Capita**
31,126,374$ 195,251,551$ 1.04% 1,617$
24,754,798 181,905,138 0.90% 1,467
9,723,366 186,243,973 0.81% 1,321 12,036,110 183,681,141 0.76% 1,302
11,519,460 178,593,635 0.70% 1,246
11,528,304 168,851,096 0.62% 1,169
11,931,653 163,192,379 0.57% 1,115
11,883,151 180,333,529 0.59% 1,245
8,209,125 179,896,135 0.54% 1,238 7,084,563 176,614,277 0.51% 1,277
STATISTICAL SECTION CITY OF PASADENA
252 Annual Comprehensive Financial Report | June 30, 2022 (This page intentionally left bl
ank)
CITY OF PASADENA STATISTICAL SECTION
Annual Compr
ehensive Financial Report | June 30, 2022 253
Debt Capacity
Direct and Overlapping Debt
June 30, 2022
Ci ty Assessed Valuation 30,449,216,093$
Redevelo pment A genc y Inc r emental Valuat ion 5,515,475,407 Total Assessed Valuat ion 35,964,691,500$
Estimated
Share of
Percenta ge Outstandin g Overla pp in g
Applicable
1 Debt a t 6/30/2022 Debt
Direct & Overlapping Debt:
Metropol ita n Wa ter Di s tri ct 2.083% 9,835,780$ 204,914$ Pa s a dena Area Community Col lege Di s tri ct 35.332% 58,665,000 20,727,474 La Cana da Unifi ed School Dis trict 0.209% 72,215,000 150,609 Pa s a dena Uni fi ed School Dis trict 73.763% 329,590,000 243,114,779 Total ov er la pp in g tax and assessment debt 489,431,783$ 264,197,776 Ci ty direct debt 193,274,380
Total direct and overlapping debt 1
457,472,156$
Notes:
Source : HdL Core n & Cone , Los Angeles C ount y As s es s or a nd Audi tor Combi ned 2021/22 Li en Da te Ta x Rol l s
1. For debt repaid with property taxes, the percentage of overlapping debt applicable is estimated using values.
A
pplic able per c entages wer e estimated by deter mining the por tion of another gov er nmental unit's tax able assessed value that is within the city's boundaries and dividing it by each unit's total taxable assessed value.
Overla pping governments a re thos e tha t coincide, a t leas t in pa rt, with the geographic boundaries of the City .
T
his schedule es tima tes the portion of the outs ta nding debt of thos e overla pping governments that is borne by t he r esident s and businesses of t he C it y . This pr oc ess r ec ognizes t hat , when c onsider ing t he C it y 's abilit y t o issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be take n i
nto account. However, this does not imply tha t every taxpa yer is a res ident, and therefore res pons ible f
or repaying the debt, of each overlapping government. The City Direct Debt amount does not include business- type activities debt.
STATISTICAL SECTION CITY OF PASADENA
254 Annual Comprehensive Financial Report | June 30, 2022 Legal Debt Margin Info
rmation
Last Ten Fiscal Years
(in Thousands)
2013 2014 2015 2016
Assessed v aluat ion 5 7 1,614$ 575 ,006 24,233,251 25,826,921 Conve rs i on percenta ge 25% 25% 25% 25%
Adjust ed assessed v aluation 1 4 2,904 143,752 6,058,313 6,456,730 Debt limit percenta ge 15% 15% 15% 15%
Debt limit 2 1,436 21,563 908,747 968,510 Total net debt applicable to limit: -$ - - - Lega l debt ma rgin 21,436$ 21,563 908,747 968,510 Total debt a pp licable to the limit
as a percenta ge of debt li mit 0.0% 0.0% 0.0% 0.0%
Fiscal Year
NOTE:
Source: Cit y of Pasadena , De pa rtment of Fina nce a nd Los An geles C ount y Tax A ssessor The Gov er nment C ode of the State of C alifor nia pr ov ides for a legal debt limit of 1 5 % of gr oss assessed valuation. However, this provision was enacted when assessed valuation was based upon 25% of market value.
Effecti ve wi th the 1981-82 fi s cal yea r, ea ch pa rcel i s now a s s es s ed at 100% of ma rket val ue (a s of the mos t recent change in ownership for that parcel). The computations shown above reflect a conversion of assessed valuation data for each fiscal y ear fr om the cur r ent full v aluation per spec tiv e to the 2 5 % lev el that was in effect at the time t hat t he legal debt mar gin was enac t ed by t he St at e of C alifor nia for loc al gov er nment s loc at ed wit hin t he st at e.
CITY OF PASADENA STATISTICAL SECTION
Annual Compr
ehensive Financial Report | June 30, 2022 255
Debt Capacity
2017 2018 2019 2020 2021 2022
27,095,911 29,144,272 30,926,320 32,706,801 34,663,728 35,964,692 25% 25% 25% 25% 25% 25%
6,773,978 7,286,068 7,731,580 8,176,700 8,665,932 8,991,173 15% 15% 15% 15% 15% 15%
1,016,097 1,092,910 1,159,737 1,226,505 1,299,890 1,348,676 - - - - -
-$
1,016,097 1,092,910 1,159,737 1,226,505 1,299,890 1,348,676
0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fiscal Year
STATISTICAL SECTION CITY OF PASADENA
256 Annual Comprehensive Financial Report | June 30, 2022 Pledged-Revenue Coverage
Governmen
tal Activity Debt
Last Ten Fiscal Years
(in Thousands)
Fiscal Year
Ended Property
June 30 Taxes Principal Interest Coverage
2013 44,066 - - -
2014 44,066 - - -
2015 56,446 - - -
2016 59,141 - - -
2017 68,752 - - -
2018 63,484 - - -
2019 68,276 - - -
2020 70,689 - - -
2021 76,579 - - -
2022 79,144 - - -
General Obligation Bonds
Debt Service
NOTE:
Details regarding the City's outstanding debt can be found in the notes to the financial statements. *Up to January 31, 2012, the date of PCDC dissolution, tax increment was reported under Primary Government grouping. **As of February 1, 2012, tax increment is reported under Private Purpose Trust Fund grouping.
Prior to fiscal year 2015, gross amount was reported (before deduction of Pass-through and County Administrative Cost).
Starting in fiscal year 2015, net amount is reported (post deduction of Pass-through and County Administrative Cost).
CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive Financial Report | June 30, 2022 257 Debt Capacity
Tax Tax
Increment Principal Interest Coverage Increment ** Principal Interest Coverage - - - - 9,537 13 ,433 1 ,187 0.65 - - - - 6,486 2 ,704 725 1.89 - - - - 1,925 2 ,245 409 0.73 - - - - 4,965 2 ,100 284 2.08 - - - - 9,327 2 ,235 234 3.78 - - - - 4,586 2 ,360 177 1.81 - - - - 143 195 35 0.62 - - - - 65 200 26 0.29 - - - - 8 210 16 0.04 - - - - - - - - Tax Allocation Bonds
Primary Government* Private Purpose Trust Fund**
Debt Service Debt Service
STATISTICAL SECTION CITY OF PASADENA
258 Annual Comprehensive Financial Report | June 30, 2022 Debt Capacity
Pledged-Revenue Coverage
Business-Type Activity Debt
Last Ten Fiscal Years
(in Thousands)
Fiscal Year Light & Less Net
Ended Power Operating Available
June 30 Revenue
1 Expenses
2 Revenue Princi pal Interest Covera ge
2013 193 ,400$ 159,351 34,049 9,060 5,885 227.83% 2014 193 ,701 155,663 38,038 8,695 7,190 239.46%
2015 207 ,745 147,810 59,935 8,950 8,715 339.29%
2016 204 ,224 146,510 57,714 9,340 8,347 326.31%
2017 204 ,287 151,499 52,788 11,290 10,865 238.27% 2018 213 ,873 148,636 65,237 12,000 11,250 280.59% 2019 230 ,980 155,634 75,346 12,475 10,778 324.03% 2020 226 ,285 156,038 70,247 13,005 10,249 302.09% 2021 222 ,862 155,468 67,394 13,930 9,679 285.46% 2022 207 ,563$ 155,040 52,522 7,225 9,147 320.81% Fiscal Year Less Net
Ended Water Operating Available
June 30 Revenue
1 Expenses
2 Revenue Princi pal Interest Covera ge
2013 58 ,839$ 37,699 21,140 2,985 4,188 294.72%
2014 61 ,772 42,615 19,157 3,070 4,045 269.25%
2015 58 ,039 38,810 19,229 3,185 3,915 270.83%
2016 51 ,538 35,501 16,037 3,305 3,782 226.29%
2017 58 ,551 38,589 19,962 4,430 3,634 247.54%
2018 62 ,819 43,801 19,018 3,525 3,456 272.43%
2019 62 ,244 45,322 16,922 3,695 3,287 242.37%
2020 63 ,901 47,447 16,454 2,475 3,114 294.40%
2021 71 ,441 52,287 19,154 2,720 2,858 343.38%
2022 66 ,879$ 49,098 17,781 2,725 2,927 314.60%
Debt Service
3 Water Revenue Bonds
Debt Service
3 Light & Power Revenue Bonds
NOTE:
1 Total oper ating r ev enues inc luding inv estment ear nings 2 Total operating expenses exclusiv e of depreciation
3 Requirements are reported on a cash basis, excluding premiums * Am
ount restated
Details regarding the City's outstanding debt can be found in the Notes to the Financial Statements. Operating expenses do not include interest or depreciation expenses.
CITY OF PASADENA STATISTICAL SECTION
Annual Compr
ehensive Financial Report | June 30, 2022 259
Demographic and Economic Information
Demographic Statistics
Last Ten Calendar Years
Personal Per Capita
Calendar Income Personal Unem ployment
Year Population
(1) (in thousands) Income
(2)
Rate
(3)
2012 140,020 5,448,318 38,911 7.0%
2013 140,879 5,607,829 39,806 5.8%
2014 140,949 5,679,117 40,292 7.4%
2015 141,023 5,738,875 40,694 6.0%
2016 143,333 5,968,550 41,641 4.7%
2017 144,388 6,045,196 41,867 3.7%
2018 146,312 6,251,241 42,725 4.0%
2019 144,842 6,399,297 44,181 3.9%
2020 145,306 6,761,032 46,529 10.4%
2021 138,310 7,130,017 51,550 7.3%
NOTE:
Begi nni ng FY2022, s chedul e upda ted from fi s ca l yea r to ca l enda r yea r.
Source: HdL , Core n & Cone (Source: 2019-2021 )
Avenue Insi ghts & Anal ytics (2018 a nd pri or)
1 California State Department of Finance
2 U.S. Census Bureau , most recent American Communit y Surve y 3 State of C alifor nia Em plo yment Develo pment De par t ment, Bur eau of Labor Statistics De p
STATISTICAL SECTION CITY OF PASADENA
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CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive Financial Re
port | June 30, 2022 261
Demographic and Economic Information
Principal Employers
Current Year and Nine Years Ago
Percent of Percent of
Number of Total Number of Total
Employer Employees Em ployment Em ployees Em ployment
California Institute of Technology- Jet
Propulsion Laboratory 6,426 6.09% 4,800 14.27%
K aiser Permanente 5,279 5.00% 4 ,707 13.99%
California Institute of Technolo gy - Cam pus 3 ,761 3.56% 3 ,600 10.70% Huntin gton Memoria l Hos pital 3,400 3.22% 3 ,273 9.73% Pa s a dena Ci ty C olle ge2 ,708 2.57% 1 ,760 5.23%
P asadena Unified Sc hool Dist r ic t 2 ,148 2.03% 3 ,000 8.92% The Cit y of Pasadena 2,238 2.12% 1 ,952 5.80%
Ar t C enter C ollege of Desi gn 825 0.78% 756 2.25%
Ea s t Wes t Ba nk 757 0.72% 342 1.02%
Hathawa y-Syca mores 565 0.54% 665 1.98%
2022 2013
NOTE:
Source: Pasadena Chamber of Commerce and City of Pasadena Business License departmen t
3. While ev ery effort has been made to ensure the accuracy of the material included in this schedule, t he C ity of P asadena r elies at times on t hir d par ty sour c es when compiling data. For FY2022, City of Pa s adena conta cted the top employers and obta ined total em
plo yee count for their business.
1. For City of Pasadena, the number includes seasonal employees. The information was provided by the City of Pasadena Human Resources department.
2. In FY2022, the percentage of total empl oyment i s cal cul a ted us i ng a bas el i ne of 105,575 jobs in Pasadena, data provided by Pasadena Chamber of Commerce.
STATISTICAL SECTION CITY OF PASADENA
262 Annual Comprehensive Financial Report | June 30, 2022 Full-time and Part-
time City Employees by Function
Last Ten Fiscal Years
Function 2013 2014 2015 2016 2017
General government 348.50 338.00 365.00 382.00 405.00
P ublic safet y 562.90 540.00 548.00 550.00 563.00
P
ubl i c works 306.60 293.00 315.00 317.00 320.00
Trans porta ti on 45.00 51. 00 50.00 51.00 51.00
Hea l th 103.90 124.00 125.00 85.00 80.00
Cul ture a nd l ei s ure 192.20 281.00 94.00 97.00 103.00 Water & power 422.00 355.00 426.00 433.00 443.00
Informa ti on s ervi ces 104.90 140.00 107.00 108.00 108.00 Sea s ona l 288.00 267.00 192.00 265.00 262.00
Total 2,374.00 2 ,389.00 2 ,222.00 2 ,288.00 2 ,335.00
Fiscal Year
Source: Cit y of Pasadena's Bud get Book-FY2022
CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive Financial Report | June 30, 2022 263 Operating Information
2018 2019 2020 2021 2022
394.00 392.46 466.88 387.22 492.20
561.00 556.75 564.75 564.75 564.75
320.00 319.96 318.96 271.96 267.48
50.00 50.00 50.00 51.00 51.00
84.00 89.10 105.60 98.38 130.00
107.00 104.74 106.77 230.23 153.23
406.00 418.00 417.00 419.00 419.00
105.00 103.56 103.56 99.98 77.00
260.00 242.00 41.00 84.00 83.00
2 ,287.00 2 ,276.57 2 ,174.52 2 ,206.52 2 ,237.66
Fiscal Year
STATISTICAL SECTION CITY OF PASADENA
264 Annual Comprehensive Financial Report | June 30, 2022 Operating Indicators by Function
Last Ten Fiscal Years
2013 2014 2015 2016
Police:
Arres ts 4,906 3,852 3,966 4,210
Transportation:
Pa rking cita tions /wa rni ngs i s s ued* 172,154 168,896 185,832 166,481 Fire:
Number of emergency ca l l s ** 16,570 17,368 18,237 19,488 Ins pecti ons 7,123 7,445 7,500 8,296
Water:
New connections 55 57 31 35
Average dai l y cons umpti on (thous a nds of ga l l ons ) 26,982 28,368 25,436 21,144 Fiscal Year
NOTE:
**FY2015 i ni ti a l l y reported a s 14,349; corrected i n FY2016 to 18,237 Source: City of Pasadena, various departments
* P
ar king c itations wer e or iginally r epor ted under P olic e depar tment. This c ategor y mov ed to the Tr anspor tation d
epa rtment i n FY2010 beca us e a ma jori ty of pa rki ng ti ckets a re i s s ued by the Tra ns porta ti on depa rtment.
CITY OF PASADENA STATISTICAL SECTION
Annual Compr
ehensive Financial Report | June 30, 2022 265
Operating Information
2017 2018 2019 2020 2021 2022
4,078 5,701 6,018 5,444 2,429 3,365
175,430 150,945 129,108 125,715 68,620 97,869
19,458 19,483 19,016 19,223 16,947 18,710
9,251 9,096 8,959 8,253 6,006 2,573
98 100 88 65 63 35
22,535 24,757 23,519 23,083 25,331 24,357
Fiscal Year
STATISTICAL SECTION CITY OF PASADENA
266 Annual Comprehensive Financial Report | June 30, 2022
Capital Asset Statistics by Function
Last Ten Fiscal Years
2013 2014 2015 2016
Police:
Stations 1 1 1 1
Subs ta tions 5 5 3 3
Fire:
Fire stations 8 8 8 8
Transportation:
Streets (mi l es ) 322 357 357 357
Streetl i ghts 17,207 17,452 17,584 17,597
Tra ffi c s i gna l s 329 329 330 330
P ar king facilities 9 9 9 9
Culture and leisure:
Pa rk s i tes 20 20 20 20
Community centers 4 4 4 4
Li bra ri es 10 10 10 10
Electric Utility:
Power pl a nts 1 1 1 1
Cus tomers 64,931 65,039 65,564 65,318
Mi l es of s ervi ce 673 680 680 687
Maxi mum capaci ty (mega wa tts ) 174 175 174 174
Water:
Wa ter ma i ns (mi l es ) 516 520 520 520
Cus tomers 37,911 37,974 37,972 37,959
Average daily consumption (mgd) 27 28 25 21
Fiscal Year
Source: Cit y of Pasadena , va ri ous depar tments
CITY OF PASADENA STATISTICAL SECTION
Annual Comprehensive Financial Report | June 30, 2022 267 Operating Information
2017 2018 2019 2020 2022
11111
32222
88888
338 338 338 338 347
17,597 17,708 17,731 17,753 17,738
330 330 313 332 352
99999
20 23 24 24 26
44444
10 10 10 10 10
11111
65,979 66,505 66,712 67,103 67,905
687 662 664 665 666
174 174 174 174 175
520 520 520 520 520
38,067 38,046 38,114 38,193 38,364
23 25 24 23 24
Fiscal Year
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