03.A Attach 4 Outside Agencies Funding Requests - With Financials (ONLINE ONLY) — Pismo Beach City Council, August 20, 2024

OrganizaƟon: 5CiƟes Homeless CoaliƟon
Requested Funding: 75000
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: 5CHC is seeking $25,000 for case management services and direct ﬁnancial assistance to speciﬁcally support Pismo Beach residents through our county-wide housing programs. So far in the 23-24 ﬁscal year 5CHC has assisted 12 households with Rapid Re-Housing deposit and rental assistance to secure housing in the city of Pismo Beach (totaling $28,627 in direct assistance). This included 5 homeless youth selected for the youth set aside units at the new Pismo Terrace Apartments case managed by 5CHC.

AddiƟonally, 5CHC assisted 8 Pismo Beach households with homelessness prevenƟon rental assistance to maintain their current housing (totaling $19,160 in direct assistance). All households have remained housed.
5CHC is seeking $50,000 in operaƟng support for our non-congregate shelter programs: Cabins for Change and Balay Ko on Barca. The recent point-in-Ɵme count surveyed 21 homeless individuals living unsheltered in the City of Pismo Beach. Limited sheltering opƟons and affordable housing were among the top-rated concerns for individuals surveyed. 5CHC currently has a waitlist of over 300 individuals seeking shelter. We currently provide priority to South County residents, as well as for a variety of vulnerability factors including: single women, seniors, disabled, youth, veterans, and members of the LGBTQIA+ community. 3% of current parƟcipants at Cabins for Change reported Pismo Beach as their place of residence upon entry, and 3% of our waitlist is currently comprised of individuals who reported Pismo Beach as their current place of residence. AddiƟonally, our street outreach team has connected with 12 individuals living on the street or in area encampments in the Pismo Beach area and works with these individuals on a consistent basis to provide immediate needs, connect to vital resources, and case management while they await connecƟon to a shelter bed, housing opportunity, or potenƟal reuniﬁcaƟon with family or support system.

Support Fiscal 2024 & 2025 City Goals: The CoaliƟon recognizes the impact of homelessness not only to those who are displaced but the community as a whole. This request will directly address the City’s goal of supporƟng regional efforts to address housing and homelessness challenges in our community. Our efforts are focused on prevenƟng homelessness in addiƟon to assisƟng those who have lost their homes. The cost of living here on the Central Coast for those “living on the edge” is extremely challenging. Housing in San Luis Obispo County has been deemed one of the least affordable and available in the country. Rents have conƟnued to skyrocket, rising nearly 30% since the pandemic. The effect has been profound with increasing requests for homeless prevenƟon and extended Ɵme spent homeless. Any effort to prevent Fiscal Year 2025 Outside Agency Request
Attachment 4
Council Agenda 8-20-2024 Item 3.A

homelessness, quickly resolve or miƟgate its impacts can have an effect on the overall community well-being, in addiƟon to the direct effect experienced by the family.

Priority of Needs: Shelter OperaƟons
Program DescripƟon: 5CiƟes Homeless CoaliƟon is seeking your support of a grant for $75,000 to support our Rapid Re-Housing & Homeless PrevenƟon programs and our Shelter Programs. 5CHC’s Rapid Re-Housing and Homeless PrevenƟon programs provide case management and direct ﬁnancial assistance to support those who are currently homeless regain housing as quickly as possible, or for those who are at risk of becoming homeless to maintain their current housing. Our work goes beyond the immediate, to ensure that clients have the plan, skill sets, educaƟon and ﬁnancial means to be successful and self-sufficient. We are proud to share that more than 90% of the households that we have helped to house (or prevented from evicƟon) remain in their home. Services under these programs include coordinated assessment, informaƟon and referral, homeless youth mentoring, housing search and stabilizaƟon, budget counseling and ﬁnancial literacy, and direct ﬁnancial assistance for immediate needs, rents and deposits.

AddiƟonally, at the end 2022, 5CHC piloted a non-congregate emergency shelter project, the ﬁrst of its kind in San Luis Obispo County and has had considerable success, with more than 65% of parƟcipants graduaƟng to stable housing. Our current Cabins for Change program provides 20 shelter beds and we are in the process of opening our second project, Balay Ko on Barca, which will provide 30 addiƟonal beds in South County. Both shelters operate on a 90-day, intensive case management model that focuses on providing parƟcipants with wrap around services and support to move them into permanent housing. Services under this program include sheltering, document ready (ID, SS Card, Birth CerƟﬁcate, etc.), independent living skills, connecƟon to mental, physical and dental health services, substance use counseling, employment resources, beneﬁts applicaƟon and advocacy, ﬁnancial literacy and budgeƟng, and housing navigaƟon.

Point of Contact: Devon McQuade
Attachment 4
Council Agenda 8-20-2024 Item 3.A

32%R[

1HZSRUW2UHJRQ

3UHSDUHGE\
&HUWLILHG3XEOLF$FFRXQWDQW
-81(
&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
$8',7('),1$1&,$/67$7(0(176
6,*1(*5,067$'
1:UG6WUHHW
Attachment 4
Council Agenda 8-20-2024 Item 3.A

.HQ'DOHERXW 3UHVLGHQW
/LQGD3LHUFH 9LFH3UHVLGHQW
0DULDP6KDK 9LFH3UHVLGHQW
%UDG:LOEHUW 6HFUHWDU\
3DXO-DUYLV 7UHDVXUHU
1DQF\$OOLVRQ 'LUHFWRU
3HJJ\&RRQ 'LUHFWRU
3DW&XVDFN 'LUHFWRU
.DVVL'HH 'LUHFWRU
0LFKDHO0DUWLQH] 'LUHFWRU
'RQQD0LOQH 'LUHFWRU
/LVD0XUGRFK 'LUHFWRU
-DQH5HQDKDQ 'LUHFWRU
$GDP9HUGLQ 'LUHFWRU
0LFKDHO:RRWHQ 'LUHFWRU
-DQQD1LFKROV ([HFXWLYH'LUHFWRU
'HYRQ0F4XDGH $VVRFLDWH'LUHFWRU
*URYHU%HDFK&DOLIRUQLD

&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
%2$5'2)',5(&7256
67$))
$''5(66
32%R[
6WK6WUHHW
Attachment 4
Council Agenda 8-20-2024 Item 3.A

,1752'8&725<6(&7,21
7LWOHSDJH
%RDUGRI'LUHFWRUV
7DEOHRI&RQWHQWV
),1$1&,$/6(&7,21 3DJH
,QGHSHQGHQW$XGLWRU
V5HSRUW
6WDWHPHQWRI)LQDQFLDO3RVLWLRQ
6WDWHPHQWRI$FWLYLWLHV
6WDWHPHQWRI)XQFWLRQDO([SHQVHVIRU3URJUDPDQG6XSSRUW6HUYLFHV 6WDWHPHQWRI&DVK)ORZV
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
6833/(0(17$5<,1)250$7,216(&7,21
6,1*/($8',75(32576
6FKHGXOHRI([SHQGLWXUHVRI)HGHUDO$ZDUGV
1RWHVWRWKH6FKHGXOHRI([SHQGLWXUHVRI)HGHUDO$ZDUGV 6FKHGXOHRI)LQGLQJVDQG4XHVWLRQHG&RVWV
6FKHGXOHRI3ULRU<HDU)LQGLQJVDQG4XHVWLRQHG&RVWV 6FKHGXOHRI)LQGLQJVDQG4XHVWLRQHG&RVWV6HFWLRQV,,DQG,,, ,QGHSHQGHQW$XGLWRU
V5HSRUWRQ&RPSOLDQFHIRU(DFK0DMRU)HGHUDO
3URJUDPDQGRQ,QWHUQDO&RQWURO2YHU&RPSOLDQFH5HTXLUHGE\WKH 8QLIRUP*XLGDQFH
,QGHSHQGHQW$XGLWRU
V5HSRUWRQ,QWHUQDO&RQWURO2YHU)LQDQFLDO5HSRUWLQJ
DQGRQ&RPSOLDQFHDQG2WKHU0DWWHUV%DVHGRQDQ$XGLWRI)LQDQFLDO 6WDWHPHQWV3HUIRUPHGLQ$FFRUGDQFHZLWK*RYHUQPHQW$XGLWLQJ6WDQGDUGV
&,7,(6+20(/(66&2$/,7,21,1&
7DEOHRI&RQWHQWV
*529(5%($&+&$/,)251,$
Attachment 4
Council Agenda 8-20-2024 Item 3.A

,1'(3(1'(17$8',725¶65(3257
7RWKH%RDUGRI'LUHFWRUV
&LWLHV+RPHOHVV&RDOLWLRQ
32%R[
*URYHU%HDFK&DOLIRUQLD

5HSRUWRQWKH$XGLWRIWKH)LQDQFLDO6WDWHPHQWV
2SLQLRQ
,KDYHDXGLWHGWKHDFFRPSDQ\LQJILQDQFLDOVWDWHPHQWVRI&LWLHV+RPHOHVV&RDOLWLRQ D
QRQSURILWFRUSRUDWLRQ
ZKLFKFRPSULVHWKHVWDWHPHQWRIILQDQFLDOSRVLWLRQDVRI-XQH DQGWKHUHODWHGVWDWHPHQWVRIDFWLYLWLHVIXQFWLRQDOH[SHQVHVIRUSURJUDPDQG VXSSRUWVHUYLFHVDQGFDVKIORZVIRUWKH\HDUWKHQHQGHGDQGWKHUHODWHGQRWHVWRWKH ILQDQFLDOVWDWHPHQWV
,QP\RSLQLRQWKHILQDQFLDOVWDWHPHQWVSUHVHQWIDLUO\LQDOOPDWHULDOUHVSHFWVWKHILQDQFLDO SRVLWLRQRI&LWLHV+RPHOHVV&RDOLWLRQDVRI-XQHDQGWKHFKDQJHVLQLWVQHW DVVHWVDQGLWVFDVKIORZVIRUWKH\HDUWKHQHQGHGLQDFFRUGDQFHZLWKDFFRXQWLQJ SULQFLSOHVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFD %DVLVIRU2SLQLRQ
,FRQGXFWHGP\DXGLWLQDFFRUGDQFHZLWKDXGLWLQJVWDQGDUGVJHQHUDOO\DFFHSWHGLQWKH 8QLWHG6WDWHVRI$PHULFDDQGWKHVWDQGDUGVDSSOLFDEOHWRILQDQFLDODXGLWVFRQWDLQHGLQ Government Auditing StandardsLVVXHGE\WKH&RPSWUROOHU*HQHUDORIWKH8QLWHG6WDWHV 0\UHVSRQVLELOLWLHVXQGHUWKRVHVWDQGDUGVDUHIXUWKHUGHVFULEHGLQWKH$XGLWRU¶V 5HVSRQVLELOLWLHVIRUWKH$XGLWRIWKH)LQDQFLDO6WDWHPHQWVVHFWLRQRIP\UHSRUW,DP UHTXLUHGWREHLQGHSHQGHQWRI&LWLHV+RPHOHVV&RDOLWLRQDQGWRPHHWP\RWKHUHWKLFDO UHVSRQVLELOLWLHVLQDFFRUGDQFHZLWKWKHUHOHYDQWHWKLFDOUHTXLUHPHQWVUHODWLQJWRP\DXGLW ,EHOLHYHWKDWWKHDXGLWHYLGHQFH,KDYHREWDLQHGLVVXIILFLHQWDQGDSSURSULDWHWRSURYLGHD EDVLVIRUP\DXGLWRSLQLRQV
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¶VDELOLW\WRFRQWLQXHDVDJRLQJFRQFHUQZLWKLQRQH\HDUDIWHU WKHGDWHWKDWWKHILQDQFLDOVWDWHPHQWVDUHDYDLODEOHWREHLVVXHG $XGLWRU¶V5HVSRQVLELOLWLHVIRUWKH$XGLWRIWKH)LQDQFLDO6WDWHPHQWV 0\REMHFWLYHVDUHWRREWDLQUHDVRQDEOHDVVXUDQFHDERXWZKHWKHUWKHILQDQFLDOVWDWHPHQWV DVDZKROHDUHIUHHIURPPDWHULDOPLVVWDWHPHQWZKHWKHUGXHWRIUDXGRUHUURUDQGWR LVVXHDQDXGLWRU¶VUHSRUWWKDWLQFOXGHVP\RSLQLRQ5HDVRQDEOHDVVXUDQFHLVDKLJKOHYHO RIDVVXUDQFHEXWLVQRWDEVROXWHDVVXUDQFHDQGWKHUHIRUHLVQRWDJXDUDQWHHWKDWDQDXGLW FRQGXFWHGLQDFFRUGDQFHZLWKJHQHUDOO\DFFHSWHGDXGLWLQJVWDQGDUGVDQGGovernment Auditing StandardsZLOODOZD\VGHWHFWDPDWHULDOPLVVWDWHPHQWZKHQLWH[LVWV7KHULVNRI QRWGHWHFWLQJDPDWHULDOPLVVWDWHPHQWUHVXOWLQJIURPIUDXGLVKLJKHUWKDQIRURQHUHVXOWLQJ Attachment 4
Council Agenda 8-20-2024 Item 3.A

&LWLHV+RPHOHVV&RDOLWLRQ
)HEUXDU\

IURPHUURUDVIUDXGPD\LQYROYHFROOXVLRQIRUJHU\LQWHQWLRQDORPLVVLRQVPLVUHSUHVHQWDWLRQVRUWKHRYHUULGHRI LQWHUQDOFRQWURO0LVVWDWHPHQWVDUHFRQVLGHUHGPDWHULDOLIWKHUHLVDVXEVWDQWLDOOLNHOLKRRGWKDWLQGLYLGXDOO\RULQWKH DJJUHJDWHWKH\ZRXOGLQIOXHQFHWKHMXGJPHQWPDGHE\DUHDVRQDEOHXVHUEDVHGRQWKHILQDQFLDOVWDWHPHQWV ,QSHUIRUPLQJDQDXGLWLQDFFRUGDQFHZLWKJHQHUDOO\DFFHSWHGDXGLWLQJVWDQGDUGVDQGGovernment Auditing Standards,

x ([HUFLVHSURIHVVLRQDOMXGJPHQWDQGPDLQWDLQSURIHVVLRQDOVNHSWLFLVPWKURXJKRXWWKHDXGLW x ,GHQWLI\DQGDVVHVVWKHULVNVRIPDWHULDOPLVVWDWHPHQWRIWKHILQDQFLDOVWDWHPHQWVZKHWKHUGXHWRIUDXGRU HUURUDQGGHVLJQDQGSHUIRUPDXGLWSURFHGXUHVUHVSRQVLYHWRWKRVHULVNV6XFKSURFHGXUHVLQFOXGH H[DPLQLQJRQDWHVWEDVLVHYLGHQFHUHJDUGLQJWKHDPRXQWVDQGGLVFORVXUHVLQWKHILQDQFLDOVWDWHPHQWV x 2EWDLQDQXQGHUVWDQGLQJRILQWHUQDOFRQWUROUHOHYDQWWRWKHDXGLWLQRUGHUWRGHVLJQDXGLWSURFHGXUHVWKDW DUHDSSURSULDWHLQWKHFLUFXPVWDQFHVEXWQRWIRUWKHSXUSRVHRIH[SUHVVLQJDQRSLQLRQRQWKH HIIHFWLYHQHVVRI&LWLHV+RPHOHVV&RDOLWLRQ¶VLQWHUQDOFRQWURO$FFRUGLQJO\QRVXFKRSLQLRQLVH[SUHVVHG x (YDOXDWHWKHDSSURSULDWHQHVVRIDFFRXQWLQJSROLFLHVXVHGDQGWKHUHDVRQDEOHQHVVRIVLJQLILFDQW DFFRXQWLQJHVWLPDWHVPDGHE\PDQDJHPHQWDVZHOODVHYDOXDWHWKHRYHUDOOSUHVHQWDWLRQRIWKHILQDQFLDO VWDWHPHQWV
x &RQFOXGHZKHWKHULQP\MXGJPHQWWKHUHDUHFRQGLWLRQVRUHYHQWVFRQVLGHUHGLQWKHDJJUHJDWHWKDWUDLVH VXEVWDQWLDOGRXEWDERXW&LWLHV+RPHOHVV&RDOLWLRQ¶VDELOLW\WRFRQWLQXHDVDJRLQJFRQFHUQIRUD UHDVRQDEOHSHULRGRIWLPH
,DPUHTXLUHGWRFRPPXQLFDWHZLWKWKRVHFKDUJHGZLWKJRYHUQDQFHUHJDUGLQJDPRQJRWKHUPDWWHUVWKHSODQQHG VFRSHDQGWLPLQJRIWKHDXGLWVLJQLILFDQWDXGLWILQGLQJVDQGFHUWDLQLQWHUQDOFRQWUROUHODWHGPDWWHUVWKDW,LGHQWLILHG GXULQJWKHDXGLW
6XSSOHPHQWDU\,QIRUPDWLRQ
0\DXGLWZDVFRQGXFWHGIRUWKHSXUSRVHRIIRUPLQJDQRSLQLRQRQWKHILQDQFLDOVWDWHPHQWVDVDZKROH7KH DFFRPSDQ\LQJVFKHGXOHRIH[SHQGLWXUHVRIIHGHUDODZDUGVDVUHTXLUHGE\7LWOH86Code of Federal Regulations3DUWUniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards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
2WKHU5HSRUWLQJ5HTXLUHGE\*RYHUQPHQW$XGLWLQJ6WDQGDUGV ,QDFFRUGDQFHZLWKGovernment Auditing Standards,KDYHDOVRLVVXHGP\UHSRUWGDWHG)HEUXDU\RQP\ FRQVLGHUDWLRQRI&LWLHV+RPHOHVV&RDOLWLRQ¶VLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJDQGRQP\WHVWVRILWV FRPSOLDQFHZLWKFHUWDLQSURYLVLRQVRIODZVUHJXODWLRQVFRQWUDFWVDQGJUDQWDJUHHPHQWVDQGRWKHUPDWWHUV7KH SXUSRVHRIWKDWUHSRUWLVVROHO\WRGHVFULEHWKHVFRSHRIP\WHVWLQJRILQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJDQG FRPSOLDQFHDQGWKHUHVXOWVRIWKDWWHVWLQJDQGQRWWRSURYLGHDQRSLQLRQRQWKHHIIHFWLYHQHVVRI&LWLHV+RPHOHVV &RDOLWLRQ¶VLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJRURQFRPSOLDQFH7KDWUHSRUWLVDQLQWHJUDOSDUWRIDQDXGLW SHUIRUPHGLQDFFRUGDQFHZLWKGovernment Auditing StandardsLQFRQVLGHULQJ&LWLHV+RPHOHVV&RDOLWLRQ¶V LQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJDQGFRPSOLDQFH *5,067$' $662&,$7(
6LJQH*ULPVWDG
&HUWLILHG3XEOLF$FFRXQWDQW1HZSRUW2UHJRQ
)HEUXDU\
Attachment 4
Council Agenda 8-20-2024 Item 3.A

:LWKRXW'RQRU :LWK'RQRU
5HVWULFWLRQV 5HVWULFWLRQV 7RWDO
$VVHWV
&XUUHQWDVVHWV
&DVK
%DQNFHUWLILFDWHRIGHSRVLW

*UDQWVDQGFRQWUDFWVUHFHLYDEOH
3UHSDLGH[SHQVHV

7RWDOFXUUHQWDVVHWV 3URSHUW\DQGHTXLSPHQW
3URSHUW\DQGHTXLSPHQWDWFRVW

/HVV
$FFXPXODWHGGHSUHFLDWLRQ

1HWIL[HGDVVHWV 7RWDODVVHWV

/LDELOLWLHVDQGQHWDVVHWV
&XUUHQWOLDELOLWLHV
$FFRXQWVSD\DEOH

$FFUXHGZDJHV

$FFUXHGSDLGWLPHRII $FFUXHGLQWHUHVW 'HIHUUHGUHYHQXH %DQNOLQHRIFUHGLW 1RWHVSD\DEOHFXUUHQWSRUWLRQ

7RWDOFXUUHQWOLDELOLWLHV /RQJWHUPOLDELOLWLHV
1RWHVSD\DEOHORQJWHUPSRUWLRQ

7RWDOORQJWHUPOLDELOLWLHV

7RWDOOLDELOLWLHV

1HWDVVHWV
:LWKRXWGRQRUUHVWULFWLRQV

'HVLJQDWHGUHVHUYH :LWKGRQRUUHVWULFWLRQV 7RWDOQHWDVVHWV

7RWDOOLDELOLWLHVDQGQHWDVVHWV

&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
67$7(0(172)),1$1&,$/326,7,21
DVRI-XQH
7KHDFFRPSDQ\LQJQRWHVDUHDQLQWHJUDOSDUWRIWKHVHILQDQFLDOVWDWHPHQWV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

:LWKRXW'RQRU :LWK'RQRU
5HVWULFWLRQV 5HVWULFWLRQV 7RWDO
6XSSRUW

*RYHUQPHQWJUDQWV 2WKHUJUDQWV

&RQWULEXWLRQVLQGLYLGXDOV

&RQWULEXWLRQVEXVLQHVVHV

&RQWULEXWLRQVLQNLQG 7RWDOVXSSRUW

5HYHQXH

*RYHUQPHQWFRQWUDFWV 6SHFLDOHYHQWV

0LVFHOODQHRXV %DQNLQWHUHVW 7RWDOUHYHQXHV 7RWDOVXSSRUWDQGUHYHQXHV

5HFODVVLILFDWLRQV

1HWDVVHWVZLWKGRQRUUHVWULFWLRQV
UHOHDVHGIURPUHVWULFWLRQV

7RWDOVXSSRUWUHYHQXHVDQGUHFODVVLILFDWLRQV

([SHQVHV

3URJUDPVHUYLFHV

+RXVLQJVXSSRUW ,PPHGLDWHQHHGV

+RPHOHVV\RXWK %HQHILWVDGYRFDF\ :DUPLQJFHQWHU 2XWUHDFKDQGRWKHU

7RWDOSURJUDPH[SHQVHV

6XSSRUWVHUYLFHV

0DQDJHPHQWDQGJHQHUDO )XQGUDLVLQJ 7RWDOH[SHQVHV &KDQJHLQQHWDVVHWV

1HWDVVHWVDWEHJLQQLQJRIILVFDO\HDU

1HWDVVHWVDWHQGRIILVFDO\HDU

&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
67$7(0(172)$&7,9,7,(6
)RUWKH<HDU(QGHG-XQH
7KHDFFRPSDQ\LQJQRWHVDUHDQLQWHJUDOSDUWRIWKHVHILQDQFLDOVWDWHPHQWV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

+R
X
V
L
Q
J

,
P
P
H
G
L
D
W
H

+
R
P
H
O
H
V
V

%
H
Q
H
I
L
W
V

D
U
P
L
Q
J

2 X
W
U
H
D
F
K

0 D
Q
D
J
H
P
H
Q
W

)
X
Q
G

7R
W
D
O
6X
S
S
R
U
W

1 H
H
G
V

<
R
X
W
K

$
G
Y
R
F
D
F
\

&
H
Q
W
H
U

D
Q
G

2 W
K
H
U

7 R
W
D
O

D
Q
G

*
H
Q
H
U
D
O

U
D
L
V
L
Q
J
([
S
H
Q
V
H
V
6D
O
D
U
L
H
V

D
Q
G

Z
D
J
H
V

3D
\
U
R
O
O

W
D
[
H
V

+H
D
O
W
K

L
Q
V
X
U
D
Q
F
H

R
U
N
H
U
V

F
R
P
S
H
Q
V
D
W
L
R
Q

7 R
W
D
O

S
H
U
V
R
Q
Q
H
O

F
R
V
W
V

$F
F
R
X
Q
W
L
Q
J

D
Q
G

D
X
G
L
W
L
Q
J

%D
Q
N

D
Q
G

P
H
U
F
K
D
Q
W

I
H
H
V

'X
H
V

D
Q
G

V
X
E
V
F
U
L
S
W
L
R
Q
V

(P
S
O
R
\
H
H

U
H
F
U
X
L
W
P
H
Q
W

+R
P
H
O
H
V
V

S
U
H
Y
H
Q
W
L
R
Q

,Q
V
X
U
D
Q
F
H

,Q
W
H
U
H
V
W

,P
P
H
G
L
D
W
H

Q
H
H
G
V

,Q
I
R
U
P
D
W
L
R
Q

W
H
F
K
Q
R
O
R
J
\

Z
H
E
V
L
W
H

/L
F
H
Q
V
H
V

D
Q
G

W
D
[
H
V

0L
V
F
H
O
O
D
Q
H
R
X
V

2F
F
X
S
D
Q
F
\

2I
I
L
F
H

V
X
S
S
O
L
H
V

H
T
X
L
S
P
H
Q
W

3D
\
U
R
O
O

V
H
U
Y
L
F
H

3D
U
W
Q
H
U

F
R
Q
W
U
D
F
W
V

3U
L
Q
W
L
Q
J

D
Q
G

F
R
S
\
L
Q
J

3U
R
I
H
V
V
L
R
Q
D
O

V
H
U
Y
L
F
H
V

5D
S
L
G

U
H
K
R
X
V
L
Q
J

6S
H
F
L
D
O

H
Y
H
Q
W

G
L
U
H
F
W

F
R
V
W
V

6W
D
I
I

G
H
Y
H
O
R
S
P
H
Q
W

Y
R
O
X
Q
W
H
H
U
V

3U
R
J
U
D
P

P
H
D
O
V

3U
R
J
U
D
P

U
H
Q
W

6X
S
S
O
L
H
V

V
R
I
W
Z
D
U
H

H
T
X
L
S
P
H
Q
W

7U
D
Q
V
S
R
U
W
D
W
L
R
Q

6 X
E
W
R
W
D
O

H
[
S
H
Q
V
H
V

&R
Q
W
U
L
E
X
W
L
R
Q
V

L
Q

N
L
Q
G

'H
S
U
H
F
L
D
W
L
R
Q

/H
V
V

V
S
H
F
L
D
O

H
Y
H
Q
W

G
L
U
H
F
W

F
R
V
W
V

7 R
W
D
O

H
[
S
H
Q
V
H
V

3H
U
F
H
Q
W

R
I

W
R
W
D
O

H
[
S
H
Q
V
H
V

&
,
7 ,
(
6
+
2 0
(
/
(
6 6

&
2 $
/
,
7 ,
2 1

,
1 &

*5
2 9
(
5
%
(
$
&
+

&
$
/
,
)
2 5
1 ,
$
67 $
7 (
0 (
1 7

2 )

)
8 1
&
7 ,
2 1
$
/

(
;
3 (
1 6
(
6
)2
5
3 5
2 *
5 $
0
$
1 '

6 8
3 3
2 5
7
6 (
5 9
,
&
(6
6X
S
S
R
U
W

6 H
U
Y
L
F
H
V
3U
R
J
U
D
P

6 H
U
Y
L
F
H
V
)R
U

W
K
H

<
H
D
U

(
Q
G
HG

-
X
Q
H

7K
H

D
F
F
R
P
S
D
Q
\
L
Q
J

Q
R
W
H
V

D
U
H

D
Q

L
Q
W
HJ
U
D
O

S
D
U
W

R
I

W
K
H
V
H

I
L
Q
D
Q
F
L
D
O

VW
D
W
H
P
H
Q
W
V

At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

:LWKRXW'RQRU :LWK'RQRU
5HVWULFWLRQV 5HVWULFWLRQV 7RWDO
&DVKIORZVIURPRSHUDWLQJDFWLYLWLHV
&KDQJHLQQHWDVVHWV

$GMXVWPHQWVWRUHFRQFLOHFKDQJHLQQHWDVVHWVWR
QHWFDVKSURYLGHG
XVHG
E\RSHUDWLQJDFWLYLWLHV

'HSUHFLDWLRQ
&KDQJHVLQRSHUDWLQJDVVHWVDQGOLDELOLWLHV

,QFUHDVH
GHFUHDVHLQ

*UDQWVDQGFRQWUDFWVUHFHLYDEOH

3UHSDLGH[SHQVHV

,QFUHDVH

GHFUHDVH
LQ

$FFRXQWVSD\DEOH

$FFUXHGZDJHV $FFUXHGYDFDWLRQ $FFUXHGLQWHUHVW

'HIHUUHGUHYHQXH

1HWFDVKSURYLGHG
XVHG
E\RSHUDWLQJDFWLYLWLHV

&DVKIORZVIURPLQYHVWLQJDFWLYLWLHV
3XUFKDVHVRISURSHUW\DQGHTXLSPHQW

,QYHVWPHQWLQEDQNFHUWLILFDWHRIGHSRVLW

1HWFDVKXVHGE\LQYHVWLQJDFWLYLWLHV

&DVKIORZVIURPILQDQFLQJDFWLYLWLHV
%DQNOLQHRIFUHGLWSURFHHGV %DQNOLQHRIFUHGLWSD\PHQWV

1HWFDVKSURYLGHGE\ILQDQFLQJDFWLYLWLHV 1HWLQFUHDVH

GHFUHDVH
LQFDVKDQGHTXLYDOHQWV

&DVKDQGFDVKHTXLYDOHQWVDWEHJLQQLQJRI\HDU
&DVKDQGFDVKHTXLYDOHQWVDWHQGRI\HDU 6XSSOHPHQWDU\FDVKIORZGLVFORVXUHV
&DVKSDLGIRULQWHUHVW

&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
67$7(0(172)&$6+)/2:6
)RUWKH<HDU(QGHG-XQH
7KHDFFRPSDQ\LQJQRWHVDUHDQLQWHJUDOSDUWRIWKHVHILQDQFLDOVWDWHPHQWV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH'HVFULSWLRQRI2UJDQL]DWLRQ
1DWXUHRIRSHUDWLRQV
&LWLHV+RPHOHVV&RDOLWLRQ,QF
&+&
LVD&DOLIRUQLDQRQSURILWFRUSRUDWLRQRUJDQL]HGRQ0DUFK &+&
ZRUNVWRWUDQVIRUPOLYHVLQ6DQ/XLV2ELVSR&RXQW\&DOLIRUQLDIURPWKH&LWLHVRI$YLOD%HDFKWR1LSRPR&+& PRELOL]HVFRPPXQLW\UHVRXUFHVIRVWHUVKRSHDQGDGYRFDWHVIRUWKHKRPHOHVVDQGWKRVHIDFLQJKRPHOHVVQHVVZLWK WKHYLVLRQRIEXLOGLQJDQHQJDJHGFRPPXQLW\WKDWIXOO\XQGHUVWDQGVWKHFRPSOH[LWLHVRIKRPHOHVVQHVVDQGDFWLYHO\ VKDUHVWKHUHVSRQVLELOLW\RIFUHDWLQJDQGLPSOHPHQWLQJVROXWLRQVWRUHGXFHLWDQGVKHOWHUWKHLUQHLJKERUV&+& GHULYHVLWVUHYHQXHIURPJRYHUQPHQWDQGRWKHUJUDQWVFRQWUDFWVFRQWULEXWLRQVDQGIXQGUDLVLQJ 'HVFULSWLRQRISURJUDPV
+RXVLQJ6XSSRUW
7KH+RXVLQJ6XSSRUW3URJUDPVHUYHVWKRVHZKRDUHKRPHOHVVRUDWULVNRIORVLQJKRXVLQJLQ6DQ/XLV2ELVSR&RXQW\ &DVHPDQDJHPHQWUHQWDODQGGHSRVLWDVVLVWDQFHLQIRUPDWLRQDQGUHIHUUDOWRFRPPXQLW\VHUYLFHVFRPSUHKHQVLYH QHHGVDVVHVVPHQWLGHQWLILFDWLRQRIEDUULHUVWRVXFFHVVDQGGHYHORSPHQWRIDQLPPHGLDWHDFWLRQSODQ7KRVHZKR YLVLW&+&
VRIILFHDUHSURYLGHGDFFHVVWRFRPSXWHULQWHUQHWSKRQHFKDUJLQJPDLOLQJDGGUHVVIRRGDQGK\JLHQH VXSSOLHV7KHSURJUDPDOVRVHUYHVYHWHUDQVZKRDUHKRPHOHVVRUDWULVNRIORVLQJKRXVLQJWKURXJKDMRLQWHIIRUWZLWK *RRG6DPDULWDQ6KHOWHUWRSURYLGHVXSSRUWLYHVHUYLFHVIRUYHWHUDQIDPLOLHV 669)
7KH8QLWHG6WDWHV'HSDUWPHQWRI
9HWHUDQV$IIDLUVSURYLGHVIXQGLQJIRUWKLVSURJUDP
,PPHGLDWH1HHGV
$VVLVWVKRPHOHVVDQGORZLQFRPHIDPLOLHVDQGLQGLYLGXDOVZKRUHVLGHLQVRXWKHUQ6DQ/XLV2ELVSR&RXQW\ZLWKIXQGV WRDGGUHVVWKHLULPPHGLDWHQHHGVDQGPRYHWKHPWRVHOIVXIILFLHQF\KRPHVWDELOLW\DQGHFRQRPLFLPSURYHPHQW $VVLVWDQFHLVXVHGIRUXWLOLWLHVIXHODXWRUHSDLUVIRRGFORWKLQJDQGXQSDLGELOOVSDLGGLUHFWO\WRDSSOLFDEOHYHQGRUV RQEHKDOIRISURJUDPSDUWLFLSDQWV
+RPHOHVV<RXWK
0DWFKHVDFDVHPDQDJHUZLWKXQDFFRPSDQLHG\RXWKDJHGWRSURYLGHHGXFDWLRQFRQQHFWLRQDQGVHUYLFHVVXFK DVLPPHGLDWHQHHGVKRXVLQJDQGGHYHORSPHQWRIDQLQGLYLGXDOL]HG$FWLRQ3ODQWRDVVLVWWKHPLQOLYLQJLQGHSHQGHQWO\ PDLQWDLQLQJVWHDG\HPSOR\PHQWDQGFRQWLQXLQJWKHLUHGXFDWLRQ %HQHILWV$GYRFDF\
7KRVHHQUROOHGLQ&+&
VFDVHPDQDJHPHQWDUHRIIHUHGDGGLWLRQDOJXLGDQFHDQGDGYRFDF\IRUREWDLQLQJDQGUHWDLQLQJ SXEOLFEHQHILWVVXFKDV6XSSOHPHQWDO6HFXULW\,QFRPH
66,
6RFLDO6HFXULW\'LVDELOLW\,QVXUDQFH
66',
&DO)UHVK
DQGRWKHUDVVLVWDQFH3DUWLFLSDQWVDUHHQFRXUDJHGWROHDUQILQDQFLDOOLWHUDF\DQGEXGJHWLQJ :DUPLQJ&HQWHU
3URYLGHVDQRYHUQLJKWZDUPLQJFHQWHUGXULQJWKHZLQWHUPRQWKVZKHQWHPSHUDWXUHSUHGLFWLRQVDUHDWRUEHORZ GHJUHHVRUUDLQSRWHQWLDORIRUPRUHIURP1RYHPEHUWKURXJK$SULO7KRVHVWD\LQJDWWKHZDUPLQJFHQWHUDUH SURYLGHGPHDOVDQGODXQGU\VHUYLFHVDQGPD\DUULYHE\ SPDQGOHDYHE\DPWKHQH[WGD\
2XWUHDFKDQG2WKHU3URJUDPV
3URYLGHFRRUGLQDWHGHQWU\LQWRWKHKRPHOHVVQHVVVXSSRUWV\VWHPWKDWEHJLQVZLWKFRQGXFWLQJDFRPSUHKHQVLYH DVVHVVPHQWRIQHHGVLGHQWLILFDWLRQRIEDUULHUVWRVXFFHVVDQGGHYHORSPHQWRIDQLPPHGLDWHDFWLRQSODQIRUHDFK LQGLYLGXDORUIDPLO\ZKRUHTXHVWVDVVLVWDQFH&+&
VVWDIIVHUYHVDVDVRXUFHRILQIRUPDWLRQRQDYDLODEOHUHVRXUFHV NQRZOHGJHRIFRXQW\SURJUDPVIRUWKHKRPHOHVVDQGUHIHUUDOVHUYLFHVIRUWKRVHLQQHHG 7UDQVLWLRQDOKRXVLQJIRUKRPHOHVVSHRSOHLVDQHZSURJUDPLQZLWKWKHFRPSOHWLRQRI&DELQVIRU&KDQJHLQWKH &LW\RI*URYHU%HDFK7ZHQW\
[
FDELQVEDWKURRPVFRPPXQLW\DUHDVWDIIRIILFHVSDFHRSHQHGLQ'HFHPEHU IRUKRPHOHVVSHRSOHZKRDSSOLHGDQGZHUHDSSURYHGWRPRYHLQWRWKHFDELQV7KHPDMRULW\RIFDELQUHVLGHQWV WUDQVLWLRQHGWRMREVDQGWKHLURZQKRPHVZLWKLQWKH\HDU$QRWKHUVLPLODUFDELQSURMHFWLVLQGHYHORSPHQWRQDVLWH OHDVHGIRULQVWDOODWLRQRIPRUHFDELQVLQ*URYHU%HDFKWKDWZLOOEHFDOOHG%DOD\.RRQ%DUFDRQFHFRPSOHWHG &,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH'HVFULSWLRQRI2UJDQL]DWLRQ

FRQWLQXHG

0DQDJHPHQWDQG*HQHUDO
,QFOXGHVWKHIXQFWLRQVQHFHVVDU\WRPDLQWDLQ&+&
VVXSSRUWSURJUDP
HQVXUHDQDGHTXDWHZRUNLQJHQYLURQPHQW

SURYLGHFRRUGLQDWLRQDQGDUWLFXODWLRQRI&+&
VSURJUDPVWUDWHJ\WKURXJKWKHRIILFHRIWKHH[HFXWLYHGLUHFWRU VHFXUH
SURSHUDGPLQLVWUDWLYHIXQFWLRQLQJRIWKHERDUGRIGLUHFWRUV PDLQWDLQFRPSHWHQWOHJDOVHUYLFHVIRUWKHSURJUDPDGPLQ LVWUDWLRQRI&+&
DQGPDQDJHWKHILQDQFLDODQGEXGJHWDU\UHVSRQVLELOLWLHVRI&+& )XQGUDLVLQJ
,QFOXGHVSXEOLFL]LQJDQGFRQGXFWLQJIXQGUDLVLQJFDPSDLJQV PDLQWDLQLQJGRQRUOLVWV
JUDQWZULWLQJ
FRQGXFWLQJ
VSHFLDOIXQGUDLVLQJHYHQWV
DQGRWKHUDFWLYLWLHVLQYROYHGZLWKVROLFLWLQJFRQWULEXWLRQVDQGJUDQWVIURPJRYHUQPHQWV IRXQGDWLRQVLQGLYLGXDOVEXVLQHVVHVDQGRWKHUV
1RWH6LJQLILFDQW$FFRXQWLQJ3ROLFLHV
&+&SUHSDUHVLWVILQDQFLDOVWDWHPHQWVLQDFFRUGDQFHZLWKJHQHUDOO\DFFHSWHGDFFRXQWLQJSULQFLSOHVSURPXOJDWHG LQWKH8QLWHG6WDWHVRI$PHULFD
86*$$3
IRUQRQSURILWHQWLWLHV7KHVLJQLILFDQWDFFRXQWLQJDQGUHSRUWLQJSROLFLHV XVHGE\&+&DUHGHVFULEHGVXEVHTXHQWO\WRHQKDQFHWKHXVHIXOQHVVDQGXQGHUVWDQGDELOLW\RIWKHILQDQFLDO VWDWHPHQWV
%DVLVRI$FFRXQWLQJ
7KHDFFRPSDQ\LQJILQDQFLDOVWDWHPHQWVKDYHEHHQSUHSDUHGRQWKHDFFUXDOEDVLVRIDFFRXQWLQJDQGDFFRUGLQJO\ UHIOHFWDOOVLJQLILFDQWUHFHLYDEOHVSD\DEOHVDQGRWKHUDFFUXDOV 8VHRIHVWLPDWHV
7KHSUHSDUDWLRQRIILQDQFLDOVWDWHPHQWVLQFRQIRUPLW\ZLWK86*$$3UHTXLUHVPDQDJHPHQWWRPDNHHVWLPDWHVDQG DVVXPSWLRQVWKDWDIIHFWWKHUHSRUWHGDPRXQWVRIDVVHWVDQGOLDELOLWLHVDWWKHGDWHRIWKHILQDQFLDOVWDWHPHQWVDQG WKHUHSRUWHGDPRXQWVRIUHYHQXHDQGH[SHQVHVGXULQJWKHUHSRUWLQJSHULRG2QDQRQJRLQJEDVLV&+& VPDQDJH
PHQWHYDOXDWHVWKHHVWLPDWHVDQGDVVXPSWLRQVEDVHGXSRQKLVWRULFDOH[SHULHQFHDQGYDULRXVRWKHUIDFWRUVDQG FLUFXPVWDQFHV&+&
VPDQDJHPHQWEHOLHYHVWKDWWKHHVWLPDWHVDQGDVVXPSWLRQVDUHUHDVRQDEOHLQWKHFLUFXP

VWDQFHV
KRZHYHUDFWXDOUHVXOWVFRXOGGLIIHUIURPWKRVHHVWLPDWHV 1HWDVVHWV
7KHILQDQFLDOVWDWHPHQWVUHSRUWQHWDVVHWVDQGFKDQJHVLQQHWDVVHWVLQWZRFODVVHVWKDWDUHEDVHGXSRQWKH H[LVWHQFHRUDEVHQFHRIUHVWULFWLRQVRQXVHWKDWDUHSODFHGE\LWVGRQRUVDVIROORZV

1HWDVVHWVZLWKRXWGRQRUUHVWULFWLRQV
1HWDVVHWVZLWKRXWGRQRUUHVWULFWLRQVDUHUHVRXUFHVDYDLODEOHWRVXSSRUWRSHUDWLRQV7KHRQO\OLPLWVRQWKHXVHRI WKHVHQHWDVVHWVDUHWKHEURDGOLPLWVUHVXOWLQJIURPWKHQDWXUHRIWKHRUJDQL]DWLRQWKHHQYLURQPHQWLQZKLFKLW RSHUDWHVWKHSXUSRVHVVSHFLILHGLQLWVFRUSRUDWHGRFXPHQWVDQGLWVDSSOLFDWLRQIRUWD[H[HPSWVWDWXVSOXVDQ\ OLPLWVUHVXOWLQJIURPFRQWUDFWXDODJUHHPHQWVZLWKFUHGLWRUVDQGRWKHUVWKDWDUHHQWHUHGLQWRLQWKHFRXUVHRILWV RSHUDWLRQV
1HWDVVHWVZLWKGRQRUUHVWULFWLRQV
1HWDVVHWVZLWKGRQRUUHVWULFWLRQVDUHUHVRXUFHVWKDWDUHUHVWULFWHGE\GRQRUVIRUXVHIRUVSHFLILHGSXUSRVHVRULQ FHUWDLQIXWXUHSHULRGV6RPHGRQRULPSRVHGUHVWULFWLRQVDUHWHPSRUDU\LQQDWXUHDQGWKHUHVWULFWLRQVH[SLUHZKHQ WKHUHVRXUFHVDUHXVHGLQDFFRUGDQFHZLWKWKHGRQRU
VLQVWUXFWLRQVRUZKHQWKHVWLSXODWHGWLPHKDVSDVVHG2WKHU GRQRULPSRVHGUHVWULFWLRQVDUHSHUSHWXDOLQQDWXUH
&+&PXVWFRQWLQXHWRXVHWKHUHVRXUFHVLQDFFRUGDQFHZLWK WKHGRQRUV
LQVWUXFWLRQV5HVWULFWHGVXSSRUWLVUHFRUGHGDVDQLQFUHDVHLQXQUHVWULFWHGQHWDVVHWVLIWKHUHVWULFWLRQ H[SLUHVLQWKHUHSRUWLQJSHULRGLQZKLFKWKHVXSSRUWLVUHFRJQL]HG &,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH6LJQLILFDQW$FFRXQWLQJ3ROLFLHV

FRQWLQXHG

1HWDVVHWVZLWKGRQRUUHVWULFWLRQV

FRQWLQXHG

:KHQGRQRUV
UHVWULFWLRQVDUHVDWLVILHGHLWKHUE\XVLQJWKHUHVRXUFHVLQWKHPDQQHUVSHFLILHGE\WKHGRQRUVRUE\ WKHSDVVDJHRIWLPHWKHH[SLUDWLRQRIWKHUHVWULFWLRQVDUHUHSRUWHGLQWKHILQDQFLDOVWDWHPHQWVE\UHFODVVLI\LQJWKH QHWDVVHWVIURPQHWDVVHWVZLWKGRQRUUHVWULFWLRQVWRQHWDVVHWVZLWKRXWGRQRUUHVWULFWLRQV1HWDVVHWVUHVWULFWHGIRU DFTXLVLWLRQRIEXLOGLQJVRUHTXLSPHQW
RUOHVVFRPPRQO\WKHFRQWULEXWLRQRIWKRVHDVVHWVGLUHFWO\ DUHUHSRUWHGDV
QHWDVVHWVZLWKGRQRUUHVWULFWLRQVXQWLOWKHVSHFLILHGDVVHWVDUHSODFHGLQVHUYLFHE\&+&XQOHVVWKHGRQRUV SURYLGHPRUHVSHFLILFLQVWUXFWLRQVDERXWWKHSHULRGRIWKHDVVHWV XVH
&ODVVLILFDWLRQRIWUDQVDFWLRQV
$OOUHYHQXHVDUHUHSRUWHGDVLQFUHDVHVLQQHWDVVHWVZLWKRXWGRQRUUHVWULFWLRQVLQWKHVWDWHPHQWRIDFWLYLWLHVXQOHVV DQ\GRQRUVSHFLILHGWKHXVHRIWKHUHODWHGUHVRXUFHVIRUDSDUWLFXODUSXUSRVHRULQDIXWXUHSHULRG$OOH[SHQVHVDUH UHSRUWHGDVGHFUHDVHVLQQHWDVVHWVZLWKRXWGRQRUUHVWULFWLRQV1HWLQYHVWPHQWJDLQVDQGORVVHVDUHUHFRUGHGDV LQFUHDVHVRUGHFUHDVHVUHVSHFWLYHO\RIUHVWULFWHGQHWDVVHWVXQWLOGHVLJQDWHGWREHVSHQWZKHQWKH\DUHUHFRUGHG DVXQUHVWULFWHGQHWDVVHWV
&DVKDQGFDVKHTXLYDOHQWV
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
GD\VDW-XQH
'RQDWLRQVRISURSHUW\DQGHTXLSPHQW
'RQDWLRQVRISURSHUW\DQGHTXLSPHQW
ORQJOLYHGDVVHWV
WKDWGRQRWKDYHGRQRULPSRVHGVWLSXODWLRQVDERXWKRZ ORQJWKHSURSHUW\PXVWEHXVHGDUHUHFRUGHGDVXQUHVWULFWHGFRQWULEXWLRQVLQWKHILVFDO\HDUUHFHLYHG 3URSHUW\DQGHTXLSPHQW
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
,PSDLUPHQWRIORQJOLYHGDVVHWV
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
&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH6LJQLILFDQW$FFRXQWLQJ3ROLFLHV

FRQWLQXHG

,QYHVWPHQWV
,QYHVWPHQWVW\SLFDOO\FRQVLVWRIGRQDWHGSXEOLFO\WUDGHGVHFXULWLHVZLWKUHDGLO\GHWHUPLQDEOHIDLUYDOXHVSUHVHQWHG DWIDLUYDOXHLQWKHVWDWHPHQWRIILQDQFLDOSRVLWLRQ5HDOL]HGDQGXQUHDOL]HGJDLQVDQGORVVHVDUHLQFOXGHGLQWKH FKDQJHLQQHWDVVHWVLQWKHDFFRPSDQ\LQJVWDWHPHQWRIDFWLYLWLHV'RQDWHGVHFXULWLHVDUHUHFRUGHGDWWKHLUIDLU YDOXHRQWKHGDWHRIGRQDWLRQZKLFKLVWKHFORVLQJSULFHSHUVKDUHSHUSXEOLVKHGVWRFNPDUNHWUHSRUWV'RQDWHG VHFXULWLHVDUHVROGXSRQUHFHLSWWRHQVXUHWKHKLJKHVWYDOXHRIWKHVHFXULW\LVUHFHLYHGDVLQWHQGHGE\WKHGRQRU V

&XUUHQWO\LQYHVWPHQWVFRQVLVWVRIDEDQNFHUWLILFDWHRIGHSRVLW $FFRXQWLQJIRUFRQWULEXWLRQV
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
&+&VRPHWLPHVUHFHLYHVFRQWULEXWLRQVLQDIRUPRWKHUWKDQFDVK'RQDWHGVXSSOLHVDUHUHFRUGHGDVFRQWULEXWLRQV DWWKHGDWHRIWKHJLIWDQGDVH[SHQVHVZKHQWKHGRQDWHGLWHPVDUHSODFHGLQWRVHUYLFHRUGLVWULEXWHG,I&+& UHFHLYHVDFRQWULEXWLRQRIODQGEXLOGLQJVRUHTXLSPHQWWKHFRQWULEXWHGDVVHWLVUHFRJQL]HGDVDQDVVHWDWLWV HVWLPDWHGIDLUYDOXHDWWKHGDWHRIWKHJLIWSURYLGHGWKDWWKHYDOXHRIWKHDVVHWDQGLWVHVWLPDWHGXVHIXOOLIHPHHWV &+&
VFDSLWDOL]DWLRQSROLF\'RQDWHGXVHRIIDFLOLWLHVLVUHSRUWHGDVFRQWULEXWLRQVDQGDVH[SHQVHVDWWKH HVWLPDWHGIDLUYDOXHRIVLPLODUVSDFHIRUUHQWXQGHUVLPLODUFRQGLWLRQV,IWKHXVHRIWKHVSDFHLVSURPLVHGXQFRQ GLWLRQDOO\IRUDSHULRGJUHDWHUWKDQRQH\HDUWKHFRQWULEXWLRQLVUHSRUWHGDVDFRQWULEXWLRQDQGDQXQFRQGLWLRQDO SURPLVHWRJLYHDWWKHGDWHRIWKHJLIWDQGWKHH[SHQVHLVUHSRUWHGRYHUWKHWHUPRIXVH &+&EHQHILWVIURPSHUVRQDOVHUYLFHVSURYLGHGE\PDQ\YROXQWHHUV7KRVHYROXQWHHUVKDYHGRQDWHGUHJXODUDPRXQWV RIWLPHDQGVHUYLFHVLQ&+&
VSURJUDPRSHUDWLRQVDQGLQLWVIXQGUDLVLQJFDPSDLJQV+RZHYHUWKHPDMRULW\RIWKH FRQWULEXWHGVHUYLFHVGRQRWPHHWWKHFULWHULDIRUUHFRJQLWLRQLQWKHILQDQFLDOVWDWHPHQWV&+&UHFRUGVWKHIDLUYDOXH RIFRQWULEXWHGVHUYLFHVLQWKHILQDQFLDOVWDWHPHQWVLIWKHVHUYLFHVHLWKHU D
FUHDWHRUHQKDQFHDQRQILQDQFLDODVVHW
RU
E
UHTXLUHVSHFLDOL]HGVNLOOV
DUHSURYLGHGE\SHUVRQVSRVVHVVLQJWKRVHVNLOOV
DQGZRXOGQHHGWREHSXUFKDVHG
LIWKH\ZHUHQRWGRQDWHGDVUHTXLUHGE\$6&

*UDQWUHYHQXH
*UDQWUHYHQXHLVUHFRJQL]HGZKHQWKHTXDOLI\LQJFRVWVDUHLQFXUUHGIRUFRVWUHLPEXUVHPHQWJUDQWVRUFRQWUDFWVRU ZKHQDXQLWRIVHUYLFHLVSURYLGHGIRUSHUIRUPDQFHJUDQWV*UDQWUHYHQXHIRUIHGHUDODJHQFLHVLVVXEMHFWWRLQGHSHQ GHQWDXGLWXQGHUWKH2IILFHRI0DQDJHPHQWDQG%XGJHW
VDXGLWUHTXLUHPHQWVIRUIHGHUDODZDUGVDQGUHYLHZE\
JUDQWRUDJHQFLHV7KHUHYLHZFRXOGUHVXOWLQWKHGLVDOORZDQFHRIH[SHQGLWXUHVXQGHUWKHWHUPVRIWKHJUDQWRU UHGXFWLRQVRIIXWXUHJUDQWIXQGV%DVHGRQSULRUH[SHULHQFH&+& VPDQDJHPHQWEHOLHYHVWKDWFRVWVXOWLPDWHO\
GLVDOORZHGLIDQ\ZRXOGQRWPDWHULDOO\DIIHFWWKHILQDQFLDOSRVLWLRQRIWKHRUJDQL]DWLRQ ([SHQVHUHFRJQLWLRQDQGDOORFDWLRQ
7KHFRVWRISURYLGLQJ&+&
VSURJUDPVDQGRWKHUDFWLYLWLHVLVVXPPDUL]HGRQDIXQFWLRQDOEDVLVLQWKHVWDWHPHQW RIIXQFWLRQDOH[SHQVHV([SHQVHVWKDWFDQEHLGHQWLILHGZLWKDVSHFLILFSURJUDPRUVXSSRUWVHUYLFHDUHFKDUJHG GLUHFWO\WRWKDWSURJUDPRUVXSSRUWVHUYLFH&RVWVFRPPRQWRPXOWLSOHIXQFWLRQVKDYHEHHQDOORFDWHGDPRQJWKH YDULRXVIXQFWLRQVEHQHILWWHGXVLQJDUHDVRQDEOHDOORFDWLRQPHWKRGWKDWLVFRQVLVWHQWO\DSSOLHGDVIROORZV

6DODULHVZDJHVEHQHILWVDQGSD\UROOWD[HVDUHDOORFDWHGEDVHGRQDFWLYLW\UHSRUWVSUHSDUHGE\NH\SHUVRQQHO &,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH6LJQLILFDQW$FFRXQWLQJ3ROLFLHV

FRQWLQXHG

([SHQVHUHFRJQLWLRQDQGDOORFDWLRQ

FRQWLQXHG

2FFXSDQF\FRVWVVXFKDVXWLOLWLHVGHSUHFLDWLRQDQGLQWHUHVWDUHDOORFDWHGEDVHGRQWKHDFWXDOFRVWVSHU VTXDUHIRRWIRUHDFKSURJUDP
,QVXUDQFHVRPHVXSSOLHVDQGPLVFHOODQHRXVH[SHQVHVWKDWFDQQRWEHGLUHFWO\LGHQWLILHGDUHDOORFDWHGRQWKH EDVLVRIHPSOR\HHKHDGFRXQWIRUHDFKSURJUDPDQGVXSSRUWLQJDFWLYLW\ (YHU\\HDUVRUPRUHRIWHQZKHQQHZVSDFHRUSURJUDPVDUHDGGHGWKHEDVHVRQZKLFKFRVWVDUHDOORFDWHGDUH HYDOXDWHG
0DQDJHPHQWDQGJHQHUDOH[SHQVHVLQFOXGHWKRVHFRVWVWKDWDUHQRWGLUHFWO\LGHQWLILDEOHZLWKDQ\VSHFLILFSURJUDP EXWZKLFKSURYLGHIRUWKHRYHUDOOVXSSRUWDQGGLUHFWLRQRI&+& )XQGUDLVLQJFRVWVDUHH[SHQVHGDVLQFXUUHGHYHQWKRXJKWKH\PD\UHVXOWLQFRQWULEXWLRQVUHFHLYHGLQIXWXUH\HDUV &+&JHQHUDOO\GRHVQRWFRQGXFWLWVIXQGUDLVLQJDFWLYLWLHVLQFRQMXQFWLRQZLWKLWVRWKHUDFWLYLWLHV,QWKHIHZFDVHV LQZKLFKLWGRHVVXFKDVZKHQWKHDQQXDOUHSRUWRUGRQRUDFNQRZOHGJHPHQWVFRQWDLQUHTXHVWVIRUFRQWULEXWLRQV MRLQWFRVWVDUHDOORFDWHGEHWZHHQIXQGUDLVLQJDQGPDQDJHPHQWDQGJHQHUDOH[SHQVHVLQDFFRUGDQFHZLWK86 *$$3IRUFRVWVRIDFWLYLWLHVWKDWLQFOXGHIXQGUDLVLQJ $GYHUWLVLQJFRVWV
$GYHUWLVLQJFRVWVDUHUHFRUGHGDVH[SHQVHVRIWKHDSSOLFDEOHSURJUDPLQWKHSHULRGLQFXUUHG ,QFRPHWD[HV
&+&KDVEHHQGHWHUPLQHGWREHH[HPSWIURPIHGHUDOLQFRPHWD[XQGHUVHFWLRQ F

RIWKH,QWHUQDO5HYHQXH
&RGHTXDOLILHVIRUWKHFKDULWDEOHFRQWULEXWLRQGHGXFWLRQXQGHU6HFWLRQ E

$
DQGKDVEHHQFODVVLILHGDVDQ
RUJDQL]DWLRQRWKHUWKDQDSULYDWHIRXQGDWLRQXQGHU6HFWLRQ

:LWKIHZH[FHSWLRQV&+&LVQRORQJHU
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
0DQDJHPHQWKDVHYDOXDWHGVXEVHTXHQWHYHQWVWKURXJK)HEUXDU\ZKLFKZDVWKHGDWHWKHILQDQFLDOVWDWH PHQWVZHUHDYDLODEOHWREHLVVXHG
)DLUYDOXHPHDVXUHPHQWV
)$6%$6&)DLU9DOXH0HDVXUHPHQWVDQG'LVFORVXUHVHVWDEOLVKHVDIUDPHZRUNIRUPHDVXULQJIDLUYDOXH7KDW IUDPHZRUNSURYLGHVDIDLUYDOXHKLHUDUFK\WKDWSULRULWL]HVWKHLQSXWVWRYDOXDWLRQWHFKQLTXHVXVHGWRPHDVXUHYDOXH 7KHKLHUDUFK\JLYHVWKHKLJKHVWSULRULW\WRXQDGMXVWHGTXRWHGSULFHVLQDFWLYHPDUNHWVIRULGHQWLFDODVVHWVRUOLDELO LWLHV
/HYHOPHDVXUHPHQWV
DQGWKHORZHVWSULRULW\WRXQREVHUYDEOHLQSXWV
/HYHOPHDVXUHPHQWV
7KHWKUHHOHYHOV
RIWKHIDLUYDOXHKLHUDUFK\XQGHU)$6%$6&DUHGHVFULEHGRQWKHIROORZLQJSDJH /HYHO,QSXWVWRWKHYDOXDWLRQPHWKRGRORJ\DUHXQDGMXVWHGTXRWHGSULFHVIRULGHQWLFDODVVHWVRUOLDELOLWLHVLQDFWLYH PDUNHWVWKDW&+&KDVWKHDELOLW\WRDFFHVV
/HYHO,QSXWVWRWKHYDOXDWLRQPHWKRGRORJ\LQFOXGHTXRWHGSULFHVIRUVLPLODUDVVHWVRUOLDELOLWLHVLQDFWLYHRU LQDFWLYHPDUNHWVLQSXWVRWKHUWKDQTXRWHGSULFHVWKDWDUHREVHUYDEOHIRUWKHDVVHWRUOLDELOLW\DQGLQSXWVWKDWDUH GHULYHGSULQFLSDOO\IURPRUFRUURERUDWHGE\REVHUYDEOHPDUNHWGDWDE\FRUUHODWLRQRURWKHUPHDQV,IWKHDVVHWRU OLDELOLW\KDVDVSHFLILHG

FRQWUDFWXDO
WHUPWKH/HYHOLQSXWPXVWEHREVHUYDEOHIRUVXEVWDQWLDOO\WKHIXOOWHUPRIWKH DVVHWRUOLDELOLW\
&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH6LJQLILFDQW$FFRXQWLQJ3ROLFLHV

FRQWLQXHG

)DLUYDOXHPHDVXUHPHQWV

FRQWLQXHG

/HYHO,QSXWVWRYDOXDWLRQPHWKRGRORJ\DUHXQREVHUYDEOHDQGVLJQLILFDQWWRWKHIDLUYDOXHPHDVXUHPHQW &+&GLGQRWKDYHDQ\DVVHWVRUOLDELOLWLHVXVLQJ/HYHOYDOXDWLRQPHWKRGRORJ\ 7KHSULPDU\XVHVRIIDLUYDOXHPHDVXUHVLQ&+&
VILQDQFLDOVWDWHPHQWVDUHDVIROORZV

,QLWLDOPHDVXUHPHQWRILQNLQGFRQWULEXWLRQVLQFOXGLQJGRQDWHGSXEOLFVHFXULWLHV LIDQ\
DQGODQGOHDVHV
1RWH/LTXLGLW\DQG$YDLODELOLW\
)LQDQFLDODVVHWVDYDLODEOHIRUJHQHUDOH[SHQGLWXUHWKDWLVZLWKRXWGRQRURURWKHUUHVWULFWLRQVOLPLWLQJWKHLUXVH ZLWKLQRQH\HDURI-XQHDUH

)LQDQFLDODVVHWV
$PRXQW
&DVK
%DQNFHUWLILFDWHRIGHSRVLW

*UDQWVDQGFRQWUDFWVUHFHLYDEOH

3UHSDLGH[SHQVHV

7RWDOILQDQFLDODVVHWV
/HVVILQDQFLDODVVHWVKHOGWRPHHWERDUGGHVLJQDWLRQVDQGGRQRULPSRVHGUHVWULFWLRQV

'HVLJQDWHGUHVHUYH
5HVWULFWHGFDVK
%DQNFHUWLILFDWHRIGHSRVLW

7RWDOUHVWULFWHGILQDQFLDODVVHWV

$PRXQWDYDLODEOHIRUJHQHUDOH[SHQGLWXUHVZLWKLQRQH\HDU 5HVWULFWHGFDVKLVQRWDYDLODEOHIRUJHQHUDORSHUDWLRQVUDWKHULWLVUHVWULFWHGIRUDVSHFLILFSXUSRVH&DVK GHVLJQDWHGDVDUHVHUYHE\WKHERDUGRIGLUHFWRUVLVDYDLODEOHWREHXVHGIRURSHUDWLRQVLIWKHERDUGRIGLUHFWRUV DSSURYHVUHGLUHFWLRQRIWKHGHVLJQDWHGUHVHUYH7KHEDQN&'PDWXUHVLQ-DQXDU\ZKHQLWZLOOEHDYDLODEOH IRUXVHXQOHVVUHLQYHVWHGIRUDQRWKHUIXWXUHSHULRG
&+&DOVRKDVDEDQNOLQHRIFUHGLWRIIRUFDVKIORZSXUSRVHVDVQHFHVVDU\ 1RWH&DVK
&DVKDQGPRQH\PDUNHWIXQGVDUHKHOGLQVHSDUDWHEDQNDQGLQYHVWPHQWDFFRXQWV$OOFDVKGHSRVLWVLQEDQNV ZHUHLQVXUHGE\IHGHUDOGHSRVLWRU\LQVXUDQFHDW-XQH&DVKFRQVLVWHGRIWKHIROORZLQJDWILVFDO\HDUHQG

%RRNV %DQNV ,QVXUHG 8QLQVXUHG
6(6/2&&UHGLW8QLRQPRQH\PDUNHW 6(6/2&&UHGLW8QLRQ&'

6(6/2&&UHGLW8QLRQVKDUHDFFRXQW 0HFKDQLFV%DQNRSHUDWLRQV

0HFKDQLFV%DQNSURJUDPV

3HWW\FDVK 6XEWRWDOFDVKLQEDQNVDQGRQKDQG

/HVVEDQNFHUWLILFDWHRIGHSRVLW

7RWDORSHUDWLQJFDVK

127(6727+(),1$1&,$/67$7(0(176
*529(5%($&+&$/,)251,$
&,7,(6+20(/(66&2$/,7,21,1&
%DQN%DODQFHV%DODQFHSHU
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH&RQFHQWUDWLRQV
&RQFHQWUDWLRQVRIJUDQWVDQGFRQWUDFWVUHFHLYDEOHDW-XQHDUHDVIROORZV

$PRXQW RI7RWDO
6DQ/XLV2ELVSR&RXQW\
6/2&DOOJUDQWVFRQWUDFWV

&RPPXQLW\$FWLRQ3DUWQHUVKLSRI6/2&

&LW\RI*URYHU%HDFK

$OORWKHU

7RWDODFFRXQWVUHFHLYDEOH
&RQFHQWUDWLRQVRIVXSSRUWDQGUHYHQXHIRUWKH\HDUHQGHG-XQHDUHDVIROORZV

$PRXQW RI7RWDO
6DQ/XLV2ELVSR&RXQW\
DOOJUDQWV

2WKHUJRYHUQPHQWFRQWUDFWV

2WKHUJUDQWV
&RQWULEXWLRQV
LQGLYLGXDOVDQGEXVLQHVVHV

&RQWULEXWLRQVLQNLQG
2WKHU
7RWDOVXSSRUWDQGUHYHQXHV
1RWH3UHSDLG([SHQVHV
3UHSDLGH[SHQVHVDQGGHSRVLWVFRQVLVWHGRIWKHIROORZLQJDW-XQH

3UHSDLGH[SHQVHV
$PRXQW
3UHSDLGHPSOR\HHEHQHILWV
3UHSDLGLQVXUDQFH
3UHSDLGSURSHUW\WD[HV
7RWDOSUHSDLGH[SHQVHV

1RWH3URSHUW\DQG(TXLSPHQW
3URSHUW\DQGHTXLSPHQWDFWLYLW\IRUWKH\HDUHQGHG-XQHLVGHWDLOHGLQWKHIROORZLQJVFKHGXOH %HJLQQLQJ &,3 (QGLQJ
3URSHUW\DQGHTXLSPHQW
%DODQFH $GGLWLRQV 7UDQVIHU %DODQFH
/DQG &RQVWUXFWLRQLQSURJUHVV
&,3
&DELQV

%XLOGLQJ ,PSURYHPHQWV

9HKLFOHV

(TXLSPHQW )L[HGDVVHWVDWFRVW

/HVV
$FFXPXODWHGGHSUHFLDWLRQ
1HWIL[HGDVVHWV &,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH'HIHUUHG5HYHQXH
'HIHUUHGUHYHQXHFRQVLVWVRISD\PHQWVUHFHLYHGIURPJUDQWRUVDQGFRQWUDFWRUVWKDWKDYHQRW\HWEHHQHDUQHG 'HIHUUHGUHYHQXHLVPRYHGWRJUDQWRUFRQWUDFWUHYHQXHRQFHWKHIXQGVDUHHDUQHG'HIHUUHGUHYHQXHIRUWKH \HDUHQGHG-XQHFRQVLVWHGRIWKHIROORZLQJ

'HIHUUHGUHYHQXH
9HQGRU3URJUDP 3URJUDP $PRXQW
%DQNRI$PHULFD
&HQWUDO&RDVW6WDU
ODXQGU\IDFLOLWLHVIRUSODQQHG%DUFDSURMHFW

(PHUJHQF\)RRGDQG6KHOWHU1DWLRQDO%RDUG3URJUDP
()63

&HQFDO+HDOWK

&LW\RI6DQ/XLV2ELVSR
&RPPXQLW\)RXQGDWLRQRI6DQ/XLV2ELVSR&RXQW\
&)6/2&R

<RXWK
7KULYH
*HQHUDO

&HQWUDO&RDVW)XQGVIRU&KLOGUHQJUDQW
&&)&

2WKHUGRQRUV
7RWDOGHIHUUHGUHYHQXH
1RWH
%DQN/LQHRI&UHGLW
&+&KDVDOLQHRIFUHGLWZLWK0HFKDQLFV%DQNDWSULPHSOXVRULQLWLDOUDWHEHJLQQLQJ $XJXVWLQFUHDVLQJWR
LQ7KHFUHGLWOLQHPDWXUHVRQ-XO\
DQGLVVHFXUHGE\
DOODVVHWVRI&+&,QWHUHVWH[SHQVHWRWDOHGIRUWKHFUHGLWOLQHIRUWKH\HDUHQGHG-XQH7KH DQQXDOORDQIHHIRUWKHOLQHRIFUHGLWZDV7KHRXWVWDQGLQJEDODQFHRQWKHFUHGLWOLQHDW-XQH ZDVDQGLQWHUHVWLQFUHDVHGWRRQ-XO\ 1RWH1RWH3D\DEOH
7KHQRWHSD\DEOHFRQVLVWHGRIWKHIROORZLQJDW-XQH

$PRXQW
1RWHSD\DEOHWRWKH6%$IRU(FRQRPLF'LVDVWHU,QMXU\/RDQ (,'/
RI
GDWHG6HSWHPEHUPDWXUHV6HSWHPEHUZKHQDOORXWVWDQGLQJ SULQFLSDODQGLQWHUHVWDUHGXH0RQWKO\SD\PHQWVRISULQFLSDOSOXVLQWHUHVWDW WRWDODQGEHJDQRQ6HSWHPEHU6HFXUHGE\DOODVVHWVRI&+& 7RWDOQRWHVSD\DEOH
/HVVFXUUHQWSRUWLRQ

/RQJWHUPSRUWLRQ

1RWHSD\DEOHPDWXULWLHVDUHDVIROORZV

<HDUHQGLQJ-XQH $PRXQW

7KHUHDIWHU

7RWDO1RWHVSD\DEOH
&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH1HW$VVHWV:LWKRXW'RQRU5HVWULFWLRQV'HVLJQDWHG5HVHUYH 7KH&+&ERDUGRIGLUHFWRUVGHVLJQDWHGIXQGVRIWUDQVIHUUHGIURPRSHUDWLQJIXQGVWREHJLQDUHVHUYHIRU IXWXUHQHHGVLQ-XO\DVZHOODVPRQWKO\WUDQVIHUVWRWKHUHVHUYHRIXQWLOWKHUHVHUYHLQFUHDVHVWR $FWLYLW\IRUWKHUHVHUYHGXULQJWKH\HDUHQGHG-XQHLVDVIROORZV

%HJLQQLQJ (QGLQJ
%DODQFH 5HFHLYHG 6SHQW %DODQFH
'HVLJQDWHGUHVHUYH 1RWH1HW$VVHWV:LWK'RQRU5HVWULFWLRQV
$FWLYLW\IRUQHWDVVHWVZLWKGRQRUUHVWULFWLRQVIRUWKH\HDUHQGHG-XQHLVDVIROORZV

%HJLQQLQJ (QGLQJ
'RQRUDQGUHVWULFWLRQ
%DODQFH 5HFHLYHG 5HOHDVHG %DODQFH
%DQNRI$PHULFDUHQWDODVVLVWDQFHKRXVLQJ

%DQNRIWKH6LHUUD&29,'

8QLRQ3DFLILF%DQN

&HQWUDO&RDVW)XQGVIRU&KLOGUHQ

&HQFDO+HDOWK++,3SURJUDP

&RPPXQLW\)RXQGDWLRQRI6DQ/XLV2ELVSR&RXQW\

&)6/2&
DGXOWKHDOWK

&)6/2&GLVDVWHUUHFRYHU\

&)6/2&FRPPXQLW\QHHGV

&)6/2&JHQHUDO

&)6/2&KRPHOHVV\RXWK

&LW\RI3LVPR%HDFK3LVPRUHVLGHQWVUHOLHI

&LW\RI6DQ/XLV2ELVSR5DSLG5HKRXVLQJDQG
+RPHOHVV3UHYHQWLRQSURJUDPV

(DVWHUQ6WDU//&%DUFDODXQGU\IDFLOLW\ (PHUJHQF\)RRGDQG6KHOWHU3URJUDP
()63

&29,'
DVVLVWDQFH

()63$PHULFDQ5HVFXH3ODQ$FW
$53$

()633KDVHKRPHOHVVDVVLVWDQFH

*HRUJH+RDJ)DPLO\)RXQGDWLRQ+(6*

.LZDQLV6WK6WUHHW 0LFKDHO0LQHU+($57+(6*

3* (&29,'
DQGKRPHOHVVUHFRYHU\

7RWDO

/HVVXQHDUQHGUHYHQXHGHIHUUHGWRIXWXUH\HDUV
1RWH

7RWDOQHWDVVHWVZLWKGRQRUUHVWULFWLRQV

1RWH6SHFLDO(YHQWV
&+&KHOGVSHFLDOHYHQWVGXULQJWKH\HDUHQGHG-XQHDVGHWDLOHGEHORZ6SHFLDOHYHQWUHYHQXH H[FOXGHVFRQWULEXWLRQVJHQHUDWHGE\WKHHYHQWVZKLFKWRWDOHGDQDGGLWLRQDOSUHVHQWHGLQLQGLYLGXDO FRQWULEXWLRQVRQWKHDFFRPSDQ\LQJVWDWHPHQWRIDFWLYLWLHV 5HYHQXH 'LUHFW&RVWV 1HW,QFRPH
(PSW\%RZOV

)LQ
V)LHVWDDQG)LQ
V*LYLQJ7XHVGD\

+RSHIRU+RPHOHVV*ROI7RXU

7RWDOVSHFLDOHYHQWV

&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH&RQWULEXWLRQV,QNLQG
&+&UHFHLYHGLQNLQGFRQWULEXWLRQVIURPPDQ\GRQRUVGXULQJWKH\HDUHQGHG-XQHDVOLVWHGEHORZ ,QNLQGFRQWULEXWLRQ
$PRXQW
6SHFLDOHYHQWVDXFWLRQLWHPVDQGVRXSERZOV 6SHFLDOHYHQWVYHQXHVDQGPHDOV
)XQGUDLVLQJVXSSOLHVZLQHGLJLWDOVLJQRWKHU &DELQVYLQ\OZUDSQDPHVQXPEHUVGLVFRXQW

&ORWKLQJDQGVXSSOLHVIRUFOLHQWV
)RRGDQGPHDOVIRUFOLHQWV

6XSSOLHVDQGKRXVHKROGJRRGVIRUFOLHQWV
+DLUFXWVELF\FOHDVVHPEO\OHJDOVHUYLFHVIRUFOLHQWV 7RLOHWULHVIRUFOLHQWV
&LW\RI*URYHU%HDFKVLWHOHDVHVIRUFDELQVIXWXUHFDELQV /HJDOVHUYLFHV
2SHUDWLQJVXSSOLHV

7RWDOLQNLQGFRQWULEXWLRQV
,QDGGLWLRQWRWKHDERYHLQNLQGFRQWULEXWLRQVYROXQWHHUVSURYLGHGKRXUVRIZRUNYDOXHGDWIRU WKH\HDUHQGHG-XQH7KHVHVHUYLFHVGLGQRWPHHWWKHFULWHULDIRUUHFRJQLWLRQLQWKHVHILQDQFLDO VWDWHPHQWVDVGHVFULEHGLQ1RWH
1RWH5HYHQXHIURP&RQWUDFWV
'LVDJJUHJDWLRQRIUHYHQXH
&+&LVDZDUGHGFRQWUDFWVIURPORFDOJRYHUQPHQWDJHQFLHVIRUSURYLVLRQRIVHUYLFHVWRLQGLYLGXDOVDQGIDPLOLHV ZKRDUHKRPHOHVVDUHIDFLQJKRPHOHVVQHVVRUUHTXLUHVXSSRUWWRUHPDLQKRXVHGLQVRXWK6DQ/XLV2ELVSR &RXQW\6XSSRUWVXFKDVJUDQWVDQGFRQWULEXWLRQVDUHUHFHLYHGDQGUHFRUGHGDVLQFRPHZKHQUHFHLYHGVLQFH WKH\DUHQRWFRQWUDFWVZLWKSHUIRUPDQFHREOLJDWLRQV
7\SHRILQFRPH
$PRXQW RI7RWDO
&RQWUDFWV
*UDQWVDQGFRQWULEXWLRQV
2WKHUUHYHQXH
7RWDOVXSSRUWDQGUHYHQXH
*UDQWVDQGFRQWUDFWVUHFHLYDEOH
5HFHLYDEOHVRQWKHDFFRPSDQ\LQJVWDWHPHQWRIILQDQFLDOSRVLWLRQUHFRUGVDPRXQWVRZHGIRUJUDQWVDQGFRQWUDFWV WKDWDUHHLWKHUQRW\HWFRPSOHWHGRUQRW\HWSDLGIRULQIXOO5HFHLYDEOHVDW-XQHIROORZV

*UDQWVDQGFRQWUDFWVUHFHLYDEOHEHJLQQLQJEDODQFH

*UDQWVDQGFRQWUDFWVUHFHLYDEOHHQGLQJEDODQFH

$PRXQWRIFKDQJH
3HUFHQWFKDQJH
'HIHUUHGUHYHQXH
$OORIWKHGHIHUUHGUHYHQXHUHFHLYHGODVW\HDUIRUXQHDUQHGJUDQWVDQGFRQWUDFWVZDVHDUQHGGXULQJWKH\HDU HQGHG-XQHDVIROORZV

%HJLQQLQJ (QGLQJ
%DODQFH 5HFHLYHG (DUQHG %DODQFH
'HIHUUHGUHYHQXHIURPJUDQWVDQGFRQWUDFWV

6HH1RWHIRUGHIHUUHGUHYHQXHGHWDLO
&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH5HYHQXHIURP&RQWUDFWV

FRQWLQXHG

3HUIRUPDQFHREOLJDWLRQV
&RQWUDFWVJHQHUDOO\UXQIRURQHILVFDO\HDUVRPHORQJHU$OOFRQWUDFWVDUHLQYRLFHGWRIXQGHUVDVVHUYLFHVDUH SURYLGHGDQGUHYHQXHLVHDUQHGW\SLFDOO\RQDPRQWKO\EDVLV&RQWUDFWUHYHQXHWKDWKDVQRWEHHQUHFRJQL]HG DW-XQHZDVDSSUR[LPDWHO\
VHH1RWH
2IWKHVHUHPDLQLQJSHUIRUPDQFHREOLJDWLRQV
&+&H[SHFWVWRUHFRJQL]HUHYHQXHRIRIWKLVEDODQFHRYHUWKHQH[WWZHOYHPRQWKVDQGWKHUHDIWHU 2WKHUUHYHQXHDQGFRVWRIUHYHQXH
2WKHUUHYHQXHLVSULPDULO\VSHFLDOHYHQWVUHYHQXHDVGHWDLOHGLQ1RWHDORQJZLWKGLUHFWFRVWVRIVSHFLDOHYHQWV 7KHUHPDLQLQJUHYHQXHLVLQWHUHVWLQFRPHDQGPLVFHOODQHRXV 1RWH2SHUDWLQJ/HDVHV
&+&OHDVHG:DUPLQJ&HQWHUVSDFHXQGHUDQRSHUDWLQJOHDVHWKDWEHJDQRQ1RYHPEHUWKURXJK0DUFK GHSHQGHQWRQWKHZHDWKHU6WRUDJHVSDFHZDVDOVRUHQWHGIRUWKHZDUPLQJFHQWHU5HQWH[SHQVHIRU WKH\HDUHQGHG-XQHWRWDOHG
IRUWKHVHOHDVHVDVSUHVHQWHGLQWKHDFFRPSDQ\LQJVWDWHPHQW RIIXQFWLRQDOH[SHQVHVDVSURJUDPUHQW$OORSHUDWLQJOHDVHVPDWXUHGE\-XQHUHVXOWLQJLQQRIXWXUH OHDVHREOLJDWLRQVIRUWKHOHDVHVGHVFULEHGLQWKLVSDUDJUDSK &+&HQWHUHGLQWRDXVHSHUPLWZLWK6DQ/XLV2ELVSR&RXQW\IRUWKHEXLOGLQJVLWHRIWKH&DELQVIRU&KDQJHSURMHFW LQ*URYHU%HDFKRQ6/2&SURSHUW\DWWK6WUHHWDQG/RQJEUDQFK6/2&ZDLYHGDQ\UHQWSD\PHQWVDQGWKH UHQWVZHUHYDOXHGDWIRUWKHILVFDO\HDU
VHH1RWH

6WK6WUHHW*URYHU%HDFKZDVOHDVHGIRU
ZLWKDQHVWLPDWHGYDOXHRI7KH%DOD\.RRQ%DUFDRU%DUFDSURMHFWZLOOEHWKHVLWHIRULQVWDOODWLRQRI PRUHFDELQVVKHOWHULQJKRPHOHVVSHRSOHDQGWKHLUSHWVDVWKH\WUDQVLWLRQWRSHUPDQHQWKRXVLQJ 1RWH5HWLUHPHQW3ODQ
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
1RWH&RQFHQWUDWLRQVRI5LVN
$PRXQWVKHOGLQILQDQFLDOLQVWLWXWLRQVPD\DWWLPHVEHLQH[FHVVRIWKH)HGHUDO'HSRVLW,QVXUDQFH&RUSRUDWLRQ DQG6HFXULWLHV,QYHVWRU3URWHFWLRQ&RUSRUDWLRQOLPLWVGXULQJWKH\HDU&+&GHSRVLWVLWVFDVKZLWKKLJKTXDOLW\ ILQDQFLDOLQVWLWXWLRQVDQGPDQDJHPHQWEHOLHYHV&+&LVQRWH[SRVHGWRVLJQLILFDQWFUHGLWULVNRQWKRVHDPRXQWV 7KHPDMRULW\RI&+&
VJUDQWVDQGFRQWUDFWVDUHUHFHLYHGIURPJRYHUQPHQWDODJHQFLHVDQGIRXQGDWLRQV$VVXFK &+&
VDELOLW\WRJHQHUDWHUHVRXUFHVYLDJUDQWVDQGFRQWULEXWLRQVLVGHSHQGHQWXSRQWKHHFRQRPLFKHDOWKRIWKH JRYHUQPHQWDODJHQFLHVDQGDUHDIRXQGDWLRQV$QHFRQRPLFGRZQWXUQFRXOGFDXVHDGHFUHDVHLQJUDQWVDQG FRQWULEXWLRQVWKDWFRLQFLGHVZLWKDQLQFUHDVHLQGHPDQGIRU&+& VVHUYLFHV
1RWH
&RPPLWPHQWV
&+&LVFRPPLWWHGWRFRPSOHWLRQRIDQ\RSHQIXQGLQJFRQWUDFWVIRUDVZHOODVWKHIXQGLQJFRQWUDFWVIRU OLVWHGLQ1RWHRQWKHIROORZLQJSDJH
7KH&RXQW\RI6DQ/XLV2ELVSR
6/2&
FRPPLWWHGWRSURYLGLQJWKH%RVV&XEH]GZHOOLQJXQLWV
FDELQV
IRUWKH
SODQQHG%DOD\.RRQ%DUFDVKHOWHUFXUUHQWO\EHLQJGHYHORSHG6/2&LVZRUNLQJZLWKWKHLUIXQGHU+8' WKH86
'HSDUWPHQWRI+RXVLQJDQG8UEDQ'HYHORSPHQW
ZKRVHIXQGVZHUHXVHGWRSXUFKDVHWKHGZHOOLQJXQLWVWRGHWHU PLQHDQDOORZDEOHPHWKRGRIWUDQVIHUULQJWKHXQLWVWR&+& HLWKHUDVDQLQNLQGFRQWULEXWLRQYDOXHGDW

RUE\FUHDWLQJDQRWKHUDJUHHPHQWRUOHDVH6HH1RWHIRUPRUHLQIRUPDWLRQRQWKH%DUFDSURMHFW &,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH6XEVHTXHQW(YHQWV
)XQGLQJ
7KHIROORZLQJJUDQWVDQGFRQWUDFWVZHUHDZDUGHGUHQHZHGRUH[WHQGHGE\&+& VFXUUHQWIXQGHUVIRURQH
RUPRUHILVFDO\HDUVZLWKWKHIROORZLQJVSHQGDEOHEDODQFHVIRUZRUNSHUIRUPHGDIWHU-XQH

&RQWUDFWV
$PRXQW
&DOLIRUQLD(PHUJHQF\6ROXWLRQVDQG+RXVLQJ
&$36/2+8'&RPPXQLW\6HUYLFHV%ORFN*UDQW
&6%*

&$36/2&DOLIRUQLD(PHUJHQF\6ROXWLRQVDQG+RXVLQJ
&(6+

&$36/2&RRUGLQDWHG(QWU\
&(
SURJUDP

&LW\RI$UUR\R*UDQGH$PHULDQ5HVFXH3ODQ$FW
$53$
IXQGV
&LW\RI*URYHU%HDFK+8'&'%*

6DQ/XLV2ELVSR&RXQW\
6/2&
+8'&'%*&29,'

6/2&+8'+($57+(PHUJHQF\6ROXWLRQV*UDQW
+(6*

6/2&+8'(PHUJHQF\6ROXWLRQV*UDQW
(6*
&29,'

6/2&IHGHUDO$PHULFDQ5HVFXH3ODQ$FW
$53$
IXQGV

6/2&*HQHUDO)XQG6XSSRUW
*)6

6/2&+RPHOHVV+RXVLQJ$VVLVWDQFHDQG3UHYHQWLRQ
++$3

6/2&++$3<RXWK&RQWLQXXPRI&DUH
&R&

6/2&++$3&R&+RPHOHVV3UHYHQWLRQ
+3

6/2&++$3&R&&DELQV

6/2&3HUPDQHQW/RFDO+RXVLQJ$OORFDWLRQ
3/+$

*RRG6DPDULWDQ6XSSRUWLYH6HUYLFHVIRU9HWHUDQV)DPLOLHV 669)

/RFDO,QLWLDWLYHV6XSSRUW&RUSRUDWLRQ
/,6&

6XEWRWDOFRQWUDFWV
*UDQWV

%DOD\.R)RXQGDWLRQ:LQWHU:DUPLQJ6KHOWHU %DQNRI$PHULFD
&HQWUDO&RDVW)XQGVIRU&KLOGUHQ\RXWKSURJUDPV 6WDWHRI&DOLIRUQLD&HQ&DO++,3

&)6/2&7KULYHDQGJHQHUDO

&)6/2&.QLJKW<RXWK)XQG
&LW\RI6DQ/XLV2ELVSR
&LW\RI3LVPR%HDFK,PPHGLDWH1HHGV3URJUDP &RPPXQLW\%DVHG2UJDQL]DWLRQSUHYHQWLYHKHDOWKJUDQW (PHUJHQF\)RRGDQG6KHOWHU3URJUDP
()63
JUDQWQR
.LZDQLV6HUYLFH&OXE
0LFKDHO0LQHU
2UGHURIWKH(DVWHUQ6WDU&DOLIRUQLD
&HQWUDO&RDVW6WDU%DUFDODXQGU\
:RPHQDGH
6XEWRWDOJUDQWV
7RWDOFRQWUDFWVDQGJUDQWV
%DQN/LQHRI&UHGLW
0HFKDQLFV%DQNOLQHRIFUHGLWZDVUHQHZHGLQ$XJXVW7KHOLQHPD[LPXPERUURZLQJDPRXQWUHPDLQV ZKLOHWKHLQWHUHVWUDWHFKDQJHGWRSULPHSOXVZLWKDPLQLPXPUDWHRI DW-XQH
7KHUDWHLQFUHDVHGWRRQ-XO\7KHQRWHPDWXUHVRQ-XO\ DQGLVVHFXUHGE\
DOODVVHWVRI&+&
&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH6XEVHTXHQW(YHQWV

FRQWLQXHG

1HZ/HDVHV
Leased parcel description
2Q0D\&+&HQWHUHGLQWRDJURXQGOHDVHZLWKDSULYDWHRZQHUIRUDSDUFHODW 6WK6WUHHWQH[WWR
WKH%DOD\.RRQ%DUFDVLWHDW
6WK6WUHHWLQWKH&LW\RI*URYHU%HDFKZKHUHWKHQH[WFDELQWUDQVLWLRQDO VKHOWHUIRUKRPHOHVVSHRSOHLVSODQQHGIRUFRQVWUXFWLRQGXULQJWKHILVFDO\HDU7KHVLWHZLOOEHXVHGDVD FRQVWUXFWLRQVWDJLQJDUHDIRUWKH%DUFDSURMHFWLV
VTXDUHIHHW
VI
LQVL]HDQGFRQWDLQVDVIEXLOGLQJ
3HUWHUPVRIWKHOHDVHDJUHHPHQWWKHEXLOGLQJPD\EHUHQRYDWHGDW&+& VH[SHQVHRUUHPRYHGDIWHU-XO\
ZLWKGD\VQRWLFHWRWKHRZQHU3RVVLEOHXVHVIRUWKHEXLOGLQJFXUUHQWO\XQGHUFRQVLGHUDWLRQLQFOXGHDKRPHOHVV VHUYLFHVRIILFHDZDUPLQJVKHOWHURURWKHUSRWHQWLDODOWHUQDWLYHVWRDVVLVWWKHKRPHOHVV Basic terms of the lease
7KH\HDUOHDVHEHJDQRQ-XO\PDWXUHVRQ-XQHZLWKDVHFXULW\GHSRVLWRIDQG PRQWKO\UHQWRILQFUHDVLQJHDFK-XO\E\WKH&RQVXPHU3ULFH,QGH[RIWKH%XUHDXRI/DERU6WDWLVWLFVRI WKH86'HSDUWPHQWRI/DERUIRUXUEDQFRQVXPHUVLQWKH/RV$QJHOHVDUHD &3,
WRDPD[LPXPDQQXDOLQFUHDVH
RISHU\HDU7KHOHDVHFRQWDLQVWZRILYH\HDUH[WHQVLRQRSWLRQVZLWKZULWWHQQRWLILFDWLRQSURYLGHGWRWKHRZQHU VL[WRQLQHPRQWKVLQDGYDQFH&+&KDVDULJKWWRFDQFHOWKHOHDVHDJUHHPHQWLQZULWLQJGXULQJWKHSHULRGRI -XO\ZLWKSD\PHQWRIUHQWWKURXJK-XO\ Parcel purchase option
7KHOHDVHFRQWDLQVDQRSWLRQWRSXUFKDVHWKHSURSHUW\&+&H[HUFLVHVWKLVRSWLRQE\SURYLGLQJZULWWHQQRWLFHWR WKHRZQHULQFOXGLQJDFDVKLHU
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elated party new lease basic terms
2Q6HSWHPEHU&+&OHDVHGDQVIEXLOGLQJRQD VIORWDW(*UDQG$YHLQ$UUR\R*UDQGH
&DOLIRUQLDIRUWZRRXWUHDFKRIILFHVDQGDZDUPLQJVKHOWHUXQGHUDQRSHUDWLQJOHDVHDJUHHPHQWWREHJLQRQ-DQXDU\ RUZKHQFHUWLILFDWHRIRFFXSDQF\LVLVVXHGXSRQFRPSOHWLRQRIDJUHHGXSRQUHQRYDWLRQVE\WKHOHVVRU 0RQWKO\UHQWLVLQFUHDVLQJDQQXDOO\SHUWKH&3,WRDPD[LPXPRI7KHOHDVHFRQWDLQVRQHILYH\HDU H[WHQVLRQRSWLRQZLWKUHQWUHHVWDEOLVKHGDWIDLUYDOXHDJUHHGXSRQE\ERWKOHVVRUDQG&+&7KHQHZPRQWKO\UHQW PXVWEHDPLQLPXPRI
DQGDPD[LPXPRIRIWKH'HFHPEHUUHQW7KHOHVVRULVDPHPEHURI &+&
VERDUGRIGLUHFWRUVZKRHQJDJHGDWKLUGSDUW\UHDOHVWDWHEURNHUWRQHJRWLDWHOHDVHWHUPVZLWK&+& 7KHOHDVHPDWXULW\VFKHGXOHIRUWKHDERYHQHZOHDVHVLVDVIROORZV

<HDUHQGLQJ-XQH $PRXQW

7KHUHDIWHU
7RWDO

&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH6XEVHTXHQW(YHQWV

FRQWLQXHG

%DOD\.RRQ%DUFD
6/2&SXUFKDVHGFDELQVIRU
IRUDKRPHOHVVVKHOWHUSURMHFWEXWZDVXQDEOHWRORFDWHDVLWHIRUWKHP DQGSODQVWRSURYLGHWKHFDELQVWR&+&YLDOHDVHRULQNLQGFRQWULEXWLRQWREHGHWHUPLQHG&+&ZLOOLQVWDOO WKHFDELQVRQWKHLUOHDVHGVLWHDW
6WK6WUHHWLQ*URYHU%HDFK
VHH1RWHVDQGQHZOHDVHV
GLVFORVXUHRQWKHSUHFHGLQJSDJH
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
3LVPR7HUUDFHLVDQHZXQLWDIIRUGDEOHKRXVLQJGHYHORSPHQWEHLQJFRQVWUXFWHGE\3HRSOHV6HOI+HOS +RXVLQJZLWKXQLWVVHWDVLGHIRUWKHKRPHOHVVDQGILYHRIWKHVHXQLWVIRUWUDQVLWLRQDODJHKRPHOHVV\RXWK &+&ZLOOSURYLGHFDVHPDQDJHPHQWVHUYLFHVIRURFFXSDQWVRIWKH\RXWKKRPHOHVVXQLWV :LQWHU:DUPLQJ&HQWHU
7KHSUHYLRXVORFDWLRQIRUWKHZDUPLQJFHQWHURSHUDWHGE\&+&VWDIIZDVQRWDYDLODEOHIRUXVHDIWHU0DUFK RI$FFRUGLQJO\&+&ORFDWHGDEXLOGLQJDW(*UDQG$YHLQ*URYHU%HDFKDVWKHSHUPDQHQW VLWHIRUWKHZDUPLQJFHQWHU6HHWKHOHDVHGHVFULSWLRQRQWKHSUHYLRXVSDJHXQGHU5HODWHGSDUW\QHZOHDVH EDVLFWHUPV7KHEXLOGLQJLVEHLQJUHQRYDWHGDQGLVQRW\HWXVDEOHIRUWKHZDUPLQJFHQWHU6LQFHPLG 'HFHPEHUWKHZDUPLQJFHQWHUZDVRSHQHGDW6W-RKQ
V/XWKHUDQ&KXUFKRQFROGDQGUDLQ\QLJKWV7KH
&LW\RI$UUR\R*UDQGHLVVXHGDWHPSRUDU\XVHSHUPLWIRUWKHZDUPLQJFHQWHUDWWKHFKXUFKEHWZHHQ 'HFHPEHUDQG-DQXDU\ZKHQIRUHFDVWHGWHPSHUDWXUHVDUHH[SHFWHGWREHGHJUHHVRU OHVVRUZKHQWKHUHLVDRUJUHDWHUFKDQFHRIUDLQRYHUQLJKW %DOD\.R)RXQGDWLRQJUDQWHG&+&IRUWKH:LQWHU:DUPLQJ&HQWHUDQGWKH&LW\RI$UUR\R *UDQGHDOVRDZDUGHGIURPWKHLUIHGHUDO$PHULFDQ5HVFXH3ODQ$FW &29,'

IXQGVWRVXSSRUW
VXSSRUWZDUPLQJFHQWHURSHUDWLRQV
&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(),1$1&,$/67$7(0(176
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6XSSOHPHQWDU\,QIRUPDWLRQ
6LQJOH$XGLW5HSRUWV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

3DVVWKURXJK
)HGHUDO (QWLW\ 3DVVHG 7RWDO
$6/ ,GHQWLI\LQJ 7KURXJKWR )HGHUDO
)HGHUDO*UDQWRU3DVVWKURXJK*UDQWRU3URJUDPRU&OXVWHU7LWOH 1XPEHU 1XPEHU 6XEUHFLSLHQWV ([SHQGLWXUHV 'HSDUWPHQWRI+RXVLQJDQG8UEDQ'HYHORSPHQW
3DVVHGWKURXJK&RPPXQLW\$FWLRQ3DUWQHUVKLSRI6DQ/XLV 2ELVSR&RXQW\
&$36/2

&29,'
&'%**UDQWV(QWLWOHPHQW*UDQWV
%28:

3DVVHGWKURXJKWKH&LW\RI*URYHU%HDFK &'%**UDQWV(QWLWOHPHQW*UDQWV
*%&'%*

&'%*

&'%**UDQWV(QWLWOHPHQW*UDQWV
*%&'%*

&'%*

&29,'
&'%**UDQWV(QWLWOHPHQW*UDQWV
*%&'%*&9

&'%*&9

&29,'
&'%**UDQWV(QWLWOHPHQW*UDQWV
*%&'%*&9

&'%*&9 3DVVHGWKURXJK6DQ/XLV2ELVSR&RXQW\
&'%**UDQWV(QWLWOHPHQW*UDQWV
%8&

&29,'
&'%**UDQWV(QWLWOHPHQW*UDQWV
%8:

Subtotal CFDA 14.218

3DVVHGWKURXJK6DQ/XLV2ELVSR&RXQW\
&29,'
(PHUJHQF\6ROXWLRQV*UDQWV
(6*&9%

(8:
&29,'
(PHUJHQF\6ROXWLRQV*UDQWV
(6*&9

(8:

&29,'
(PHUJHQF\6ROXWLRQV*UDQWV
(6*&9$

(8:

&29,'
(PHUJHQF\6ROXWLRQV*UDQWV
&$(6*&9

(6*&9

&29,'
(PHUJHQF\6ROXWLRQV*UDQWV
&$(6*&9

(6*&9

(PHUJHQF\6ROXWLRQV*UDQWV
(6*
(PHUJHQF\6ROXWLRQV*UDQWV
(8&

(PHUJHQF\6ROXWLRQV*UDQWV
(8&

Subtotal CFDA 14.231

3DVVHGWKURXJK&$36/2
&RQWLQXXPRI&DUH3URJUDP 81.12:1
Total Department of Housing and Urban Development

'HSDUWPHQWRIWKH7UHDVXU\
3DVVHGWKURXJK/RFDO,QLWLDWLYHV6XSSRUW&RUSRUDWLRQ
(PHUJHQF\5HQWDO$VVLVWDQFH3URJUDP 3DVVHGWKURXJK6DQ/XLV2ELVSR&RXQW\
&29,'
&RURQDYLUXV6WDWHDQG/RFDO)LVFDO5HFRYHU\
)XQGV$PHULFDQ5HVFXH3ODQ$FW
$53$
&R6/2$GPLQ$53$

Total Department of the Treasury 'HSDUWPHQWRI9HWHUDQV$IIDLUV
3DVVHGWKURXJK*RRG6DPDULWDQ
6XSSRUWLYH6HUYLFHVIRU9HWHUDQV)DPLOLHV &$
6XSSRUWLYH6HUYLFHVIRU9HWHUDQV)DPLOLHV &$
Total Department of Veterans Affairs 'HSDUWPHQWRI+RPHODQG6HFXULW\
3DVVHGWKURXJK8QLWHG:D\:RUOGZLGH
&29,'
(PHUJHQF\)RRG 6KHOWHU3URJUDP$53$

(PHUJHQF\)RRG 6KHOWHU3URJUDP
3KDVH

Total Department of Homeland Security Total Federal Expenditures

&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
6&+('8/(2)(;3(1',785(62))('(5$/$:$5'6

0DMRUIHGHUDOSURJUDP
)RUWKH<HDU(QGHG-XQH
7KHDFFRPSDQ\LQJQRWHVDUHDQLQWHJUDOSDUWRIWKLVVFKHGXOH
Attachment 4
Council Agenda 8-20-2024 Item 3.A

1RWH%DVLVRI3UHVHQWDWLRQ
7KHDFFRPSDQ\LQJVFKHGXOHRIH[SHQGLWXUHVRIIHGHUDODZDUGV 6()$
LQFOXGHVWKHIHGHUDODZDUGDFWLYLW\RI&LWLHV
+RPHOHVV&RDOLWLRQ
&+&
XQGHUSURJUDPVRIWKHIHGHUDOJRYHUQPHQWIRUWKH\HDUHQGHG-XQH7KH LQIRUPDWLRQLQWKH6()$LVSUHSDUHGLQDFFRUGDQFHZLWKWKHUHTXLUHPHQWVRI7LWOH86&RGHRI)HGHUDO5HJXODWLRQV 3DUWUniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards 8QLIRUP
*XLGDQFH
%HFDXVHWKH6()$SUHVHQWVRQO\DVHOHFWHGSRUWLRQRIWKHRSHUDWLRQVRI&+&LWLVQRWLQWHQGHGWRDQG GRHVQRWSUHVHQWWKHILQDQFLDOSRVLWLRQFKDQJHVLQQHWDVVHWVRUFDVKIORZVRI&+& 1RWH6XPPDU\RI6LJQLILFDQW$FFRXQWLQJ3ROLFLHV
([SHQGLWXUHVUHSRUWHGRQWKH6()$DUHUHSRUWHGRQWKHDFFUXDOEDVLVRIDFFRXQWLQJ6XFKH[SHQGLWXUHVDUHUHFRJQL]HG IROORZLQJWKHFRVWSULQFLSOHVFRQWDLQHGLQ7LWOH86&RGHRI)HGHUDO5HJXODWLRQV3DUWUniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,ZKHUHLQFHUWDLQW\SHVRIH[SHQGLWXUHV DUHQRWDOORZDEOHRUDUHOLPLWHGDVWRUHLPEXUVHPHQW&+&KDVHOHFWHGQRWWRXVHWKHWHQSHUFHQWGHPLQLPLVLQGLUHFW FRVWUDWHDVDOORZHGXQGHUWKH8QLIRUP*XLGDQFH
&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
127(6727+(6&+('8/(2)(;3(1',785(62))('(5$/$:$5'6 )RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

)LQGLQJVDQG5HFRPPHQGDWLRQV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6HFWLRQ,6XPPDU\RI$XGLWRU
V5HVXOWV
)LQDQFLDO6WDWHPHQWV
7\SHRIUHSRUWWKHDXGLWRULVVXHGRQZKHWKHUWKHILQDQFLDOVWDWHPHQWVZHUHSUHSDUHG LQDFFRUGDQFHZLWK*$$3
8QTXDOLILHG
,QWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJ

0DWHULDOZHDNQHVV
HV
LGHQWLILHG"\HV 3QR
6LJQLILFDQWGHILFLHQF\
LHV
LGHQWLILHG"\HV 3QRQHUHSRUWHG
1RQFRPSOLDQFHPDWHULDOWRILQDQFLDOVWDWHPHQWVQRWHG"\HV 3QR Federal Awards
,QWHUQDOFRQWURORYHUPDMRUIHGHUDOSURJUDPV

0DWHULDOZHDNQHVV
HV
LGHQWLILHG"\HV 3QR
6LJQLILFDQWGHILFLHQF\
LHV
LGHQWLILHG"\HV 3QRQHUHSRUWHG
7\SHRIDXGLWRUV
UHSRUWLVVXHGRQFRPSOLDQFHIRUPDMRUIHGHUDOSURJUDPV 8QPRGLILHG
$Q\DXGLWILQGLQJVGLVFORVHGWKDWDUHUHTXLUHGWREHUHSRUWHG LQDFFRUGDQFHZLWK&)56HFWLRQ
D
"\HV 3QR
,GHQWLILFDWLRQRIPDMRUIHGHUDOSURJUDPV

$6/1XPEHU
V

1DPHRI)HGHUDO3URJUDPRU&OXVWHU

&'%**UDQWV(QWLWOHPHQW*UDQWV
(PHUJHQF\6ROXWLRQV*UDQWV3URJUDP
'ROODUWKUHVKROGXVHGWRGLVWLQJXLVKEHWZHHQ7\SH$DQG7\SH%SURJUDPV
$XGLWHHTXDOLILHGDVORZULVNDXGLWHHXQGHU&)56HFWLRQ"\HV 3QR &,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
6&+('8/(2)),1',1*6$1'48(67,21('&2676
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6HFWLRQ,6XPPDU\RI$XGLWRU
V5HVXOWV
)LQDQFLDO6WDWHPHQWV
7\SHRIUHSRUWWKHDXGLWRULVVXHGRQZKHWKHUWKHILQDQFLDOVWDWHPHQWVZHUHSUHSDUHG LQDFFRUGDQFHZLWK*$$3
8QTXDOLILHG
,QWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJ

$6/1XPEHU
V

1DPHRI)HGHUDO3URJUDPRU&OXVWHU

(PHUJHQF\6ROXWLRQV*UDQWV3URJUDP
'ROODUWKUHVKROGXVHGWRGLVWLQJXLVKEHWZHHQ7\SH$DQG7\SH%SURJUDPV
$XGLWHHTXDOLILHGDVORZULVNDXGLWHHXQGHU&)56HFWLRQ"\HV 3QR &,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
6&+('8/(2)35,25<($5),1',1*6$1'48(67,21('&2676
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6HFWLRQ,,)LQDQFLDO6WDWHPHQW)LQGLQJV
1RQHUHSRUWHG
6HFWLRQ,,,)HGHUDO$ZDUG)LQGLQJVDQG4XHVWLRQHG&RVWV 1RQHUHSRUWHG
&,7,(6+20(/(66&2$/,7,21,1&
*529(5%($&+&$/,)251,$
6&+('8/(2)),1',1*6$1'48(67,21('&2676
)RUWKH<HDU(QGHG-XQH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

,QGHSHQGHQW$XGLWRU¶V5HSRUWRQ&RPSOLDQFHIRU(DFK0DMRU3URJUDP DQGRQ,QWHUQDO&RQWURO2YHU&RPSOLDQFH5HTXLUHGE\WKH8QLIRUP*XLGDQFH %RDUGRI'LUHFWRUVDQG0DQDJHPHQWRI
&LWLHV+RPHOHVV&RDOLWLRQ
32%R[
*URYHU%HDFK&DOLIRUQLD

5HSRUWRQ&RPSOLDQFHIRU(DFK0DMRU)HGHUDO3URJUDP
2SLQLRQRQ(DFK0DMRU)HGHUDO3URJUDP
,KDYHDXGLWHG&LWLHV+RPHOHVV&RDOLWLRQ¶V
&+&¶V
FRPSOLDQFHZLWKWKHW\SHVRI
FRPSOLDQFHUHTXLUHPHQWVLGHQWLILHGDVVXEMHFWWRDXGLWLQWKH20%Compliance SupplementWKDWFRXOGKDYHDGLUHFWDQGPDWHULDOHIIHFWRQHDFKRI&+&¶VPDMRUIHGHUDO SURJUDPVIRUWKH\HDUHQGHG-XQH&+&¶VPDMRUIHGHUDOSURJUDPDUHLGHQWLILHG LQWKHVXPPDU\RIDXGLWRU¶VUHVXOWVVHFWLRQRIWKHDFFRPSDQ\LQJVFKHGXOHRIILQGLQJVDQG TXHVWLRQHGFRVWV
,QP\RSLQLRQ&+&FRPSOLHGLQDOOPDWHULDOUHVSHFWVZLWKWKHW\SHVRIFRPSOLDQFH UHTXLUHPHQWVUHIHUUHGWRDERYHWKDWFRXOGKDYHDGLUHFWDQGPDWHULDOHIIHFWRQHDFKRILWV PDMRUIHGHUDOSURJUDPVIRUWKH\HDUHQGHG-XQH %DVLVIRU2SLQLRQRQ(DFK0DMRU)HGHUDO3URJUDP
,FRQGXFWHGP\DXGLWRIFRPSOLDQFHLQDFFRUGDQFHZLWKDXGLWLQJVWDQGDUGVJHQHUDOO\ DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFD
WKHVWDQGDUGVDSSOLFDEOHWRILQDQFLDODXGLWV
FRQWDLQHGLQGovernment Auditing StandardsLVVXHGE\WKH&RPSWUROOHU*HQHUDORIWKH 8QLWHG6WDWHV
DQGWKHDXGLWUHTXLUHPHQWVRI7LWOH86Code of Federal Regulations 3DUWUniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
8QLIRUP*XLGDQFH
0\UHVSRQVLELOLWLHVXQGHUWKRVHVWDQGDUGVDQG
WKH8QLIRUP*XLGDQFHDUHIXUWKHUGHVFULEHGLQWKH$XGLWRU¶V5HVSRQVLELOLWLHVIRUWKH$XGLW RI&RPSOLDQFHVHFWLRQRIP\UHSRUW
,DPUHTXLUHGWREHLQGHSHQGHQWRI&+&DQGWRPHHWP\RWKHUHWKLFDOUHVSRQVLELOLWLHVLQ DFFRUGDQFHZLWKUHOHYDQWHWKLFDOUHTXLUHPHQWVUHODWLQJWRP\DXGLW,EHOLHYHWKDWWKHDXGLW HYLGHQFH,KDYHREWDLQHGLVVXIILFLHQWDQGDSSURSULDWHWRSURYLGHDEDVLVIRUP\RSLQLRQ RQFRPSOLDQFHIRUHDFKPDMRUIHGHUDOSURJUDP0\DXGLWGRHVQRWSURYLGHDOHJDO GHWHUPLQDWLRQRI&+&¶VFRPSOLDQFHZLWKWKHFRPSOLDQFHUHTXLUHPHQWVUHIHUUHGWRDERYH 5HVSRQVLELOLWLHVRI0DQDJHPHQWIRU&RPSOLDQFH
0DQDJHPHQWLVUHVSRQVLEOHIRUFRPSOLDQFHZLWKWKHUHTXLUHPHQWVUHIHUUHGWRDERYHDQG IRUWKHGHVLJQLPSOHPHQWDWLRQDQGPDLQWHQDQFHRIHIIHFWLYHLQWHUQDOFRQWURORYHU FRPSOLDQFHZLWKWKHUHTXLUHPHQWVRIODZVVWDWXWHVUHJXODWLRQVUXOHVDQGSURYLVLRQVRI FRQWUDFWVRUJUDQWDJUHHPHQWVDSSOLFDEOHWR&+&¶VIHGHUDOSURJUDPV $XGLWRU¶V5HVSRQVLELOLWLHVIRUWKH$XGLWRI&RPSOLDQFH 0\REMHFWLYHVDUHWRREWDLQUHDVRQDEOHDVVXUDQFHDERXWZKHWKHUPDWHULDOQRQFRPSOLDQFH ZLWKWKHFRPSOLDQFHUHTXLUHPHQWVUHIHUUHGWRDERYHRFFXUUHGZKHWKHUGXHWRIUDXGRU HUURUDQGH[SUHVVDQRSLQLRQRQ&+&¶VFRPSOLDQFHEDVHGRQP\DXGLW5HDVRQDEOH Attachment 4
Council Agenda 8-20-2024 Item 3.A

&LWLHV+RPHOHVV&RDOLWLRQ
)HEUXDU\

DVVXUDQFHLVDKLJKOHYHORIDVVXUDQFHEXWLVQRWDEVROXWHDVVXUDQFHDQGWKHUHIRUHLVQRWDJXDUDQWHHWKDW DQDXGLWFRQGXFWHGLQDFFRUGDQFHZLWKJHQHUDOO\DFFHSWHGDXGLWLQJVWDQGDUGVGovernment Auditing StandardsDQGWKH8QLIRUP*XLGDQFHZLOODOZD\VGHWHFWPDWHULDOQRQFRPSOLDQFHZKHQLWH[LVWV7KHULVN RIQRWGHWHFWLQJPDWHULDOQRQFRPSOLDQFHUHVXOWLQJIURPIUDXGLVKLJKHUWKDQIRUWKDWUHVXOWLQJIURPHUURUDV IUDXGPD\LQYROYHFROOXVLRQIRUJHU\LQWHQWLRQDORPLVVLRQVPLVUHSUHVHQWDWLRQVRUWKHRYHUULGHRILQWHUQDO FRQWURO1RQFRPSOLDQFHZLWKWKHFRPSOLDQFHUHTXLUHPHQWVUHIHUUHGWRDERYHLVFRQVLGHUHGPDWHULDOLI WKHUHLVDVXEVWDQWLDOOLNHOLKRRGWKDWLQGLYLGXDOO\RULQWKHDJJUHJDWHLWZRXOGLQIOXHQFHWKHMXGJPHQWPDGH E\DUHDVRQDEOHXVHURIWKHUHSRUWRQFRPSOLDQFHDERXW&+&¶VFRPSOLDQFHZLWKWKHUHTXLUHPHQWVRI HDFKPDMRUIHGHUDOSURJUDPDVDZKROH
,QSHUIRUPLQJDQDXGLWLQDFFRUGDQFHZLWKJHQHUDOO\DFFHSWHGDXGLWLQJVWDQGDUGVGovernment Auditing standardsDQGWKH8QLIRUP*XLGDQFH,

x ([HUFLVHSURIHVVLRQDOMXGJPHQWDQGPDLQWDLQSURIHVVLRQDOVNHSWLFLVPWKURXJKRXWWKHDXGLW x ,GHQWLI\DQGDVVHVVWKHULVNVRIPDWHULDOQRQFRPSOLDQFHZKHWKHUGXHWRIUDXGRUHUURUDQG GHVLJQDQGSHUIRUPDXGLWSURFHGXUHVUHVSRQVLYHWRWKRVHULVNV6XFKSURFHGXUHVLQFOXGH H[DPLQLQJRQDWHVWEDVLVHYLGHQFHUHJDUGLQJ&+&¶VFRPSOLDQFHZLWKWKHFRPSOLDQFH UHTXLUHPHQWVUHIHUUHGWRDERYHDQGSHUIRUPLQJVXFKRWKHUSURFHGXUHVDV,FRQVLGHUHGQHFHVVDU\ LQWKHFLUFXPVWDQFHV
x 2EWDLQDQXQGHUVWDQGLQJRI&+&¶VLQWHUQDOFRQWURORYHUFRPSOLDQFHUHOHYDQWWRWKHDXGLWLQRUGHU WRGHVLJQDXGLWSURFHGXUHVWKDWDUHDSSURSULDWHLQWKHFLUFXPVWDQFHVDQGWRWHVWDQGUHSRUWRQ LQWHUQDOFRQWURORYHUFRPSOLDQFHLQDFFRUGDQFHZLWKWKH8QLIRUP*XLGDQFHEXWQRWIRUWKH SXUSRVHRIH[SUHVVLQJDQRSLQLRQRQWKHHIIHFWLYHQHVVRI&+&¶VLQWHUQDOFRQWURORYHU FRPSOLDQFH$FFRUGLQJO\QRVXFKRSLQLRQLVH[SUHVVHG
,DPUHTXLUHGWRFRPPXQLFDWHZLWKWKRVHFKDUJHGZLWKJRYHUQDQFHUHJDUGLQJDPRQJRWKHUPDWWHUVWKH SODQQHGVFRSHDQGWLPLQJRIWKHDXGLWDQGDQ\VLJQLILFDQWGHILFLHQFLHVDQGPDWHULDOZHDNQHVVHVLQ LQWHUQDOFRQWURORYHUFRPSOLDQFHWKDW,LGHQWLILHGGXULQJWKHDXGLW 5HSRUWRQ,QWHUQDO&RQWURORYHU&RPSOLDQFH
$deficiency in internal control over complianceH[LVWVZKHQWKHGHVLJQRURSHUDWLRQRIDFRQWURORYHU FRPSOLDQFHGRHVQRWDOORZPDQDJHPHQWRUHPSOR\HHVLQWKHQRUPDOFRXUVHRISHUIRUPLQJWKHLUDVVLJQHG IXQFWLRQVWRSUHYHQWRUGHWHFWDQGFRUUHFWQRQFRPSOLDQFHZLWKDW\SHRIFRPSOLDQFHUHTXLUHPHQWRID IHGHUDOSURJUDPRQDWLPHO\EDVLV$material weakness in internal control over complianceLVD GHILFLHQF\RUDFRPELQDWLRQRIGHILFLHQFLHVLQLQWHUQDOFRQWURORYHUFRPSOLDQFHVXFKWKDWWKHUHLVD UHDVRQDEOHSRVVLELOLW\WKDWPDWHULDOQRQFRPSOLDQFHZLWKDW\SHRIFRPSOLDQFHUHTXLUHPHQWRIDIHGHUDO SURJUDPZLOOQRWEHSUHYHQWHGRUGHWHFWHGDQGFRUUHFWHGRQDWLPHO\EDVLV$significant deficiency in internal control over complianceLVDGHILFLHQF\RUDFRPELQDWLRQRIGHILFLHQFLHVLQLQWHUQDOFRQWURORYHU FRPSOLDQFHZLWKDW\SHRIFRPSOLDQFHUHTXLUHPHQWRIDIHGHUDOSURJUDPWKDWLVOHVVVHYHUHWKDQDPDWHULDO ZHDNQHVVLQLQWHUQDOFRQWURORYHUFRPSOLDQFH\HWLPSRUWDQWHQRXJKWRPHULWDWWHQWLRQE\WKRVHFKDUJHG ZLWKJRYHUQDQFH
0\FRQVLGHUDWLRQRILQWHUQDOFRQWURORYHUFRPSOLDQFHZDVIRUWKHOLPLWHGSXUSRVHGHVFULEHGLQWKH $XGLWRU¶V5HVSRQVLELOLWLHVIRUWKH$XGLWRI&RPSOLDQFHVHFWLRQDERYHDQGZDVQRWGHVLJQHGWRLGHQWLI\DOO GHILFLHQFLHVLQLQWHUQDOFRQWURORYHUFRPSOLDQFHWKDWPLJKWEHPDWHULDOZHDNQHVVHVRUVLJQLILFDQWLQ LQWHUQDOFRQWURORYHUFRPSOLDQFH*LYHQWKHVHOLPLWDWLRQVGXULQJP\DXGLW,GLGQRWLGHQWLI\DQ\GHILFLHQFLHV LQLQWHUQDOFRQWURORYHUFRPSOLDQFHWKDW,FRQVLGHUWREHPDWHULDOZHDNQHVVHVDVGHILQHGDERYH +RZHYHUPDWHULDOZHDNQHVVHVRUVLJQLILFDQWGHILFLHQFLHVLQLQWHUQDOFRQWURORYHUFRPSOLDQFHPD\H[LVW WKDWZHUHQRWLGHQWLILHG
0\DXGLWZDVQRWGHVLJQHGIRUWKHSXUSRVHRIH[SUHVVLQJDQRSLQLRQRQWKHHIIHFWLYHQHVVRILQWHUQDO FRQWURORYHUFRPSOLDQFH$FFRUGLQJO\QRVXFKRSLQLRQLVH[SUHVVHG Attachment 4
Council Agenda 8-20-2024 Item 3.A

&LWLHV+RPHOHVV&RDOLWLRQ
)HEUXDU\

7KHSXUSRVHRIWKLVUHSRUWRQLQWHUQDOFRQWURORYHUFRPSOLDQFHLVVROHO\WRGHVFULEHWKHVFRSHRIP\ WHVWLQJRILQWHUQDOFRQWURORYHUFRPSOLDQFHDQGWKHUHVXOWVRIWKDWWHVWLQJEDVHGRQWKHUHTXLUHPHQWVRIWKH 8QLIRUP*XLGDQFH$FFRUGLQJO\WKLVUHSRUWLVQRWVXLWDEOHIRUDQ\RWKHUSXUSRVH *5,067$' $662&,$7(
6LJQH*ULPVWDG
&HUWLILHG3XEOLF$FFRXQWDQW
1HZSRUW2UHJRQ
)HEUXDU\
Attachment 4
Council Agenda 8-20-2024 Item 3.A

,QGHSHQGHQW$XGLWRU¶V5HSRUWRQ,QWHUQDO&RQWURO2YHU)LQDQFLDO5HSRUWLQJ DQGRQ&RPSOLDQFHDQG2WKHU0DWWHUV%DVHGRQDQ
$XGLWRI)LQDQFLDO6WDWHPHQWV3HUIRUPHG
LQ$FFRUGDQFHZLWK*RYHUQPHQW$XGLWLQJ6WDQGDUGV
%RDUGRI'LUHFWRUV
&LWLHV+RPHOHVV&RDOLWLRQ
32%R[
*URYHU%HDFK&DOLIRUQLD

,KDYHDXGLWHGLQDFFRUGDQFHZLWKWKHDXGLWLQJVWDQGDUGVJHQHUDOO\DFFHSWHGLQWKH 8QLWHG6WDWHVRI$PHULFDDQGWKHVWDQGDUGVDSSOLFDEOHWRILQDQFLDODXGLWVFRQWDLQHGLQ Government Auditing StandardsLVVXHGE\WKH&RPSWUROOHU*HQHUDORIWKH8QLWHG6WDWHV WKHILQDQFLDOVWDWHPHQWVRI&LWLHV+RPHOHVV&RDOLWLRQ &+&

DQRQSURILWRUJDQL]DWLRQ

ZKLFKFRPSULVHWKHVWDWHPHQWRIILQDQFLDOSRVLWLRQDVRI-XQHDQGWKHUHODWHG VWDWHPHQWVRIDFWLYLWLHVIXQFWLRQDOH[SHQVHVDQGFDVKIORZVIRUWKH\HDUWKHQHQGHGDQG WKHUHODWHGQRWHVWRWKHILQDQFLDOVWDWHPHQWVDQGKDYHLVVXHGP\UHSRUWWKHUHRQGDWHG )HEUXDU\
5HSRUWRQ,QWHUQDO&RQWURO2YHU)LQDQFLDO5HSRUWLQJ
,QSODQQLQJDQGSHUIRUPLQJP\DXGLWRIWKHILQDQFLDOVWDWHPHQWV,FRQVLGHUHG&+&¶V LQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJ
LQWHUQDOFRQWURO
DVDEDVLVIRUGHVLJQLQJDXGLW
SURFHGXUHVWKDWDUHDSSURSULDWHLQWKHFLUFXPVWDQFHVIRUWKHSXUSRVHRIH[SUHVVLQJP\ RSLQLRQRQWKHILQDQFLDOVWDWHPHQWVEXWQRWIRUWKHSXUSRVHRIH[SUHVVLQJDQRSLQLRQRQ WKHHIIHFWLYHQHVVRI&+&¶VLQWHUQDOFRQWURO$FFRUGLQJO\,GRQRWH[SUHVVDQRSLQLRQRQ WKHHIIHFWLYHQHVVRI&+&¶VLQWHUQDOFRQWURO
$deficiency in internal controlH[LVWVZKHQWKHGHVLJQRURSHUDWLRQRIDFRQWUROGRHVQRW DOORZPDQDJHPHQWRUHPSOR\HHVLQWKHQRUPDOFRXUVHRISHUIRUPLQJWKHLUDVVLJQHG IXQFWLRQVWRSUHYHQWRUGHWHFWDQGFRUUHFWPLVVWDWHPHQWVRQDWLPHO\EDVLV$material weaknessLVDGHILFLHQF\RUDFRPELQDWLRQRIGHILFLHQFLHVLQLQWHUQDOFRQWUROVXFKWKDW WKHUHLVDUHDVRQDEOHSRVVLELOLW\WKDWDPDWHULDOPLVVWDWHPHQWRIWKHHQWLW\¶VILQDQFLDO VWDWHPHQWVZLOOQRWEHSUHYHQWHGRUGHWHFWHGDQGFRUUHFWHGRQDWLPHO\EDVLV$ significant deficiencyLVDGHILFLHQF\RUDFRPELQDWLRQRIGHILFLHQFLHVLQLQWHUQDOFRQWURO WKDWLVOHVVVHYHUHWKDQDPDWHULDOZHDNQHVV\HWLPSRUWDQWHQRXJKWRPHULWDWWHQWLRQE\ WKRVHFKDUJHGZLWKJRYHUQDQFH
0\FRQVLGHUDWLRQRILQWHUQDOFRQWUROZDVIRUWKHOLPLWHGSXUSRVHGHVFULEHGLQWKHILUVW SDUDJUDSKRIWKLVVHFWLRQDQGZDVQRWGHVLJQHGWRLGHQWLI\DOOGHILFLHQFLHVLQLQWHUQDO FRQWUROWKDWPLJKWEHPDWHULDOZHDNQHVVHVRUVLJQLILFDQWGHILFLHQFLHV*LYHQWKHVH OLPLWDWLRQVGXULQJP\DXGLW,GLGQRWLGHQWLI\DQ\GHILFLHQFLHVLQLQWHUQDOFRQWUROWKDW, FRQVLGHUWREHPDWHULDOZHDNQHVVHV+RZHYHUPDWHULDOZHDNQHVVHVPD\H[LVWWKDWZHUH QRWLGHQWLILHG
Attachment 4
Council Agenda 8-20-2024 Item 3.A

&LWLHV+RPHOHVV&RDOLWLRQ
)HEUXDU\

5HSRUWRQ&RPSOLDQFHDQG2WKHU0DWWHUV
$VSDUWRIREWDLQLQJUHDVRQDEOHDVVXUDQFHDERXWZKHWKHU&+&¶VILQDQFLDOVWDWHPHQWVDUHIUHHIURP PDWHULDOPLVVWDWHPHQW,SHUIRUPHGWHVWVRILWVFRPSOLDQFHZLWKFHUWDLQSURYLVLRQVRIODZVUHJXODWLRQV FRQWUDFWVDQGJUDQWDJUHHPHQWVQRQFRPSOLDQFHZLWKZKLFKFRXOGKDYHDGLUHFWDQGPDWHULDOHIIHFWRQ WKHILQDQFLDOVWDWHPHQWV+RZHYHUSURYLGLQJDQRSLQLRQRQFRPSOLDQFHZLWKWKRVHSURYLVLRQVZDVQRWDQ REMHFWLYHRIP\DXGLWDQGDFFRUGLQJO\,GRQRWH[SUHVVVXFKDQRSLQLRQ7KHUHVXOWVRIP\WHVWVGLVFORVHG QRLQVWDQFHVRIQRQFRPSOLDQFHRURWKHUPDWWHUVWKDWDUHUHTXLUHGWREHUHSRUWHGXQGHUGovernment Auditing Standards
3XUSRVHRIWKLV5HSRUW
7KHSXUSRVHRIWKLVUHSRUWLVVROHO\WRGHVFULEHWKHVFRSHRIP\WHVWLQJRILQWHUQDOFRQWURODQGFRPSOLDQFH DQGWKHUHVXOWVRIWKDWWHVWLQJDQGQRWWRSURYLGHDQRSLQLRQRQWKHHIIHFWLYHQHVVRIWKHRUJDQL]DWLRQ¶V LQWHUQDOFRQWURORURQFRPSOLDQFH7KLVUHSRUWLVDQLQWHJUDOSDUWRIDQDXGLWSHUIRUPHGLQDFFRUGDQFHZLWK Government Auditing StandardsLQFRQVLGHULQJWKHRUJDQL]DWLRQ¶VLQWHUQDOFRQWURODQGFRPSOLDQFH $FFRUGLQJO\WKLVFRPPXQLFDWLRQLVQRWVXLWDEOHIRUDQ\RWKHUSXUSRVH *5,067$' $662&,$7(
6LJQH*ULPVWDG
&HUWLILHG3XEOLF$FFRXQWDQW
1HZSRUW2UHJRQ
)HEUXDU\
Attachment 4
Council Agenda 8-20-2024 Item 3.A

OrganizaƟon: Assistance League® of San Luis Obispo County Requested Funding: 3500
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: Last school year we clothed 38 students from Judkins Middle School and 12 students from Shell Beach Elementary. The OperaƟon School Bell costs for those students was $9,390. We are unable to extract the number of student residents in the City of Pismo Beach who aƩend Arroyo Grande High School. Reason tells us that students matriculated from the middle school to high school. Their approximate number would be 30 at a cost of $6,000.

Assistance League clothed 700 (that is the exact number not an approximaƟon) students in the Lucia Mar Uniﬁed School District at a cost of $122,500.

All funds received from the City of Pismo Beach grant for 2024-25 will be expended only on OperaƟon School Bell. Our goal is to once again clothe more than 700 students from the Lucia Mar Uniﬁed School District. That will include 91 students from Pismo Beach Support Fiscal 2024 & 2025 City Goals: We believe our goal in clothing disadvantaged students aligns with the City of Pismo Beach’s ‘“Goal Statement: Focus on providing resources toward safety of the community. PrioriƟes: Support technology investments that enhance public safety.”’ We feel certain having an educated student populaƟon that aƩends school regularly becomes contribuƟng members of their community. They make the most of their educaƟon including intra and extra- curricular courses offered which enrich their lives and the life of their community. The academic and social success of students contributes to safe, stable school campuses and city environs. Students who fail in school challenge the resources of their family and community. Truancy goes hand in hand with juvenile delinquency.

Priority of Needs: Funding OperaƟon School Bell would be our top priority.

Program DescripƟon: OperaƟon School Bell® is our primary philanthropic program. It provides kindergarten through 12th grade students in need, aƩending school in all ten school districts in San Luis Obispo County with new school-appropriate clothing. Students are referred to OperaƟon School Bell by school personnel. In addiƟon, all students clothed receive a dental hygiene kit, a grade- appropriate book, and a tote of grade-appropriate school supplies.

The students in the North County are clothed at Kohl’s in Paso Robles. The students in the South County are clothed at Old Navy in San Luis Obispo. Kindergarten – 5th grade students receive $150 in clothing and 6th – 12th grade students receive $200 in clothing.

The funds received from this grant will go only to support OperaƟon School Bell.

Point of Contact: Sharon Darnton
Fiscal Year 2025 Outside Agency Request

Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of San Luis
Obispo County
Reviewed Financial Statements
May 31, 2023 and 2022
Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of San Luis Obispo County
May 31, 2023 and 2022

CONTENTS
Page
Financial Statements
Independent Accountant's Review Report 1
Comparative Statement of Financial Position 3
Comparative Statement of Activities and Changes in Net Assets 5 Comparative Statement of Cash Flows 7
Comparative Statement of Functional Expenses 8
Notes to the Financial Statements 10
Attachment 4
Council Agenda 8-20-2024 Item 3.A

Independent Accountant's Review Report
To the Board of Directors
Assistance League of San Luis Obispo County
San Luis Obispo, California
I have reviewed the accompanying comparative financial statements of Assistance League of San Luis Obispo County (a nonprofit organization), which comprise the statement of financial position as of May 31, 2023 and 2022 and the related statements of activities and changes in net assets, functional expenses and cash flows for the year s then ended, and the related notes to the financial statements. A review includes primarily applying analytical procedures to management's financial data and making inquiries of management. A review is substantially less in scope than an audit, the objective of which is the expression of an opinion regarding the financial statements as a whole. Accordingly, I do not express such an opinion.

Management’s Responsibility 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; this includes 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.

Accountant’s Responsibility
My responsibility is to conduct the review engagements in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. Those standards require me to perform procedures to obtain limited assurance as a basis for reporting whether I am aware of any material modifications that should be made to the financial statements for them to be in accordance with accounting principles generally accepted in the United States of America. I believe that the results of my procedures provide a reasonable basis for my conclusion.
1 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Independent Accountant's Review Report
Accountant’s Conclusion
Based on my reviews, I am not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in accordance with accounting principles generally accepted in the United States of America.

Summarized Comparative Information
I previously reviewed Assistance League of San Luis Obispo County's May 31, 2022 financial statements and in my conclusion dated August 10, 2022, stated that based on my review, I was not aware of any material modifications that should be made to the May 31, 2022 financial statements in order for them to be in accordance with accounting principles generally accepted in the United States of America. I am not aware of any material modifications that should be made to the summarized comparative information presented herein as of and for the year ended May 31, 2022, for it to be consistent with the reviewed financial statements from which it has been derived.

Kenneth J Filipponi CPA
Certified Public Accountant
September 15, 2023
2 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Statement of Financial Position
May 31, 2023 With Comparative Totals for 2022
Note 2023 2022
Assets
Current Assets
Cash and cash equivalents 1.e.2.$ 497,129 $ 464,480
Accounts receivable 1.f.3,500 3,000
Inventories 1.h.4.160,572 214,830
Prepaid expenses 3.11,427 7,544
Total Current Assets 672,628 689,854
Property and equipment, net 5.1,281 2,872
Operating lease right-of-use asset 7.449,288 -
Deposits 5,127 5,127
Total Assets $1,128,324 $697,853
See accompanying notes and independent accountant's review report. 3 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Statement of Financial Position
May 31, 2023 With Comparative Totals for 2022
Liabilities and Net Assets
Current Liabilities
Accounts payable $691$ 644
Sales tax payable 2,813 2,508
Deferred revenue 6.4,803 6,868
Current portion of operating lease liability 7.161,676 - Total Current Liabilities 169,983 10,020
Operating lease liability 7.291,952 -
Total Liabilities 461,935 10,020
Net Assets
Without Donor Restrictions
Undesignated 662,885 687,833
With donor restrictions 3,504 -
Total Net Assets 666,389 687,833
Total Liabilities and Net Assets $1,128,324 $697,853
See accompanying notes and independent accountant's review report. 4 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Statement of Activities and Changes in Net Assets
For the Year Ended May 31, 2023 With Comparative Totals for 2022 -------------Year Ended May 31, 2023------------- 2022 Without
Donor
Restrictions
With Donor
Restrictions Total
Revenue, gains and other support
Fundraising
Thrift Shop Revenue
Contributions of merchandise $418,754$$ 418,754 $ 408,335 Sales of contributed merchandise 348,272 348,272 339,432 Less: Value of merchandise sold (348,272)(348,272)(339,432) Net revenue from thrift shop 418,754 418,754 408,335
Fundraising and special events
Revenue 100,247 100,247 124,124
Less Direct costs (2,262)(2,262)(3,030)
Net revenue from fundraising events and
activities 97,985 97,985 121,094
Revenue
Membership, net of direct expenses of $2,171 for
May 31, 2023 and $1,546 for May 31, 2022 13,637 13,637 7,702 Contributions and grants 73,801 3,504 77,305 61,172
In-kind contributions 67,050 67,050 55,857
Total Revenue 154,488 3,504 157,992 124,731
Net assets released from restrictions
Total revenues, gains and other support 671,227 3,504 674,731 654,160 See accompanying notes and independent accountant's review report. 5 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Statement of Activities and Changes in Net Assets
For the Year Ended May 31, 2023 With Comparative Totals for 2022 -------------Year Ended May 31, 2023------------- 2022 Without
Donor
Restrictions
With Donor
Restrictions Total
Expenses
Program services
Operation School Bell 419,503 419,503 298,285
Operation Bookshelf 24,538 24,538 29,162
Operation School Supply/Dental Kit 25,809 25,809 10,679 Total program services 469,850 469,850 338,126
Supporting services
Thrift Shop 177,738 177,738 153,191
Management and general 31,909 31,909 32,919
Membership development 17,430 17,430 11,029
Total supporting services 227,077 227,077 197,139
Total Expenses 696,927 696,927 535,265
Changes in operating net assets (25,700)3,504 (22,196)118,895 Investment income 752 752 203
Changes in net assets (24,948)3,504 (21,444)119,098
Net assets at beginning of year 687,833 687,833 568,735 Net assets at end of year $662,885$ 3,504 $ 666,389 $ 687,833 See accompanying notes and independent accountant's review report. 6 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Statement of Cash Flows
For the Year Ended May 31, 2023 With Comparative Totals for 2022 Note 2023 2022
CASH FLOWS FROM OPERATING ACTIVITIES:

Changes in net assets $ (21,444)$ 119,098
Depreciation 1,591 2,162
Recognition of ASC 842 accrued lease payment 16,917 -
(Increase) decrease in accounts receivable 500 (3,000)
(Increase) decrease in inventories 54,258 (50,070)
(Increase) decrease in prepaid expenses (17,460)(1,629) Increase (decrease) in accounts payable 47 (2,155)
Increase (decrease) in deferred revenue (2,065)(24,098) Increase (decrease) in sales tax payable 305 (787)
TOTAL CASH FLOWS FROM OPERATING ACTIVITIES 32,649 39,521 CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of property and equipment -(675)
TOTAL CASH FLOWS FROM INVESTING ACTIVITIES -(675)
CASH FLOWS FROM FINANCING ACTIVITIES:

Net cash increase (decreases) in cash and cash equivalents 32,649 38,846 Cash and cash equivalents at beginning of year 464,480 425,634 Cash and cash equivalents at end of year $497,129 $464,480 Supplemental data:

Cash paid for interest --
Cash paid for income taxes --
The chapter reported a non-cash $565,000 right-of-use asset and non-cash $565,000 lease liability in accordance with FASB ASC 842 on June 1, 2022, the commencement date.

See accompanying notes and independent accountant's review report. 7 Attachment 4
Council Agenda 8-20-2024 Item 3.A

As
s
i
s
t
a
n
c
e

L
e
a
g
u
e

o
f

S
L
O

C
o
u
n
t
y

St
a
t
e
m
e
n
t

o
f

F
u
n
c
t
i
o
n
a
l

E
x
p
e
n
s
e
s
Fo
r

t
h
e

Y
e
a
r

E
n
d
e
d

Ma
y

3 1
,

2 0
2 3
W
i
t
h

C
o
m
p
a
r
a
t
i
v
e

T
o
t
a
l
s

f
o
r

2 0
2 2
--
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Y
e
a
r

E
n
d
e
d

M
a
y

3 1
,

2 0
2 3
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
--
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
--
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
P
r
o
g
r
a
m

S
e
r
v
i
c
e
s
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
--
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
S
u
p
p
o
r
t
i
n
g

S
e
r
v
i
c
e
s
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Op
e
r
a
t
i
o
n
Sc
h
o
o
l

B
e
l
l
Op
e
r
a
t
i
o
n
Bo
o
k
s
h
e
l
f
Op
e
r
a
t
i
o
n
Sc
h
o
o
l
Su
p
p
l
y
/
D
e
n
t
a
l
Ki
t
s
To
t
a
l
Pr
o
g
r
a
m
Se
r
v
i
c
e
s
Fu
n
d
r
a
i
s
i
n
g
Ac
t
i
v
i
t
i
e
s
Th
r
i
f
t

S
h
o
p
Ma
n
a
g
e
m
e
n
t
an
d

G
e
n
e
r
a
l
Me
m
b
e
r
s
h
i
p
De
v
e
l
o
p
m
e
n
t
To
t
a
l
Su
p
p
o
r
t
i
n
g
Se
r
v
i
c
e
s
To
t
a
l
Ex
p
e
n
s
e
s
To
t
a
l
Ex
p
e
n
s
e
s
Ye
a
r

E
n
d
e
d
Ma
y

3 1
,

2 0
2 2
Pr
o
g
r
a
m

e
x
p
e
n
s
e
s
$

3 5
9 ,
2 9
7 $8
,
6 8
0 $2
4 ,
2 0
9 $

3 9
2 ,
1 8
6 $
$
$
$
$
$

3 9
2 ,
1 8
6 $

2 7
4 ,
9 3
5 Pr
o
g
r
a
m

e
x
p
e
n
s
e
s

I
n
-
k
i
n
d

49 ,
5 9
2 1
5 ,
8 5
8 1
,
6 0
0 6
7 ,
0 5
0 67
,
0 5
0 55
,
8 5
7 Oc
c
u
p
a
n
c
y
:

U
t
i
l
i
t
i
e
s
20 2

2 0
2 8
,
1 4
1 4
0 4

2 0
2 8
,
7 4
7 8,
9 4
9 7,
4 5
6 R
e
p
a
i
r
s

a
n
d

m
a
i
n
t
e
n
a
n
c
e
4,
6 4
0 4
,
6 4
0 4,
6 4
0 3,
5 2
5 R
e
n
t
4,
3 1
2 4
,
3 1
2 1
4 6
,
1 7
9 1
0 ,
5 5
3 4
,
3 1
2 1
6 1
,
0 4
4 16
5 ,
3 5
6 15
1 ,
6 6
0 I
n
s
u
r
a
n
c
e
2,
7 2
5 2
,
7 2
5 9
2 5

2 ,
8 1
4 3
3 3

4 ,
0 7
2 6,
7 9
7 6,
1 3
5 St
o
r
a
g
e
3,
1 3
6 3,
1 3
6 3,
1 3
6 De
p
r
e
c
i
a
t
i
o
n
23 9

2 3
9 1
,
2 7
3 7
9 1
,
3 5
2 1,
5 9
1 2,
1 6
2 Pr
o
f
e
s
s
i
o
n
a
l

s
e
r
v
i
c
e
s
6,
3 0
2 6
,
3 0
2 6,
3 0
2 7,
3 2
3 Pu
b
l
i
c

r
e
l
a
t
i
o
n
s

a
n
d

a
d
v
e
r
t
i
s
i
n
g
76 2

7 6
2 76
2 1,
0 3
2 Of
f
i
c
e

s
u
p
p
l
i
e
s
4,
5 3
4 4
,
5 3
4 4,
5 3
4 3,
1 7
0 Na
t
i
o
n
a
l

d
u
e
s
4,
2 4
0 4
,
2 4
0 4,
2 4
0 4,
5 4
0 Na
t
i
o
n
a
l

c
o
n
f
e
r
e
n
c
e

a
n
d
me
e
t
i
n
g
s
2,
6 4
7 2
,
6 4
7 2,
6 4
7 27
9 Cr
e
d
i
t

c
a
r
d

f
e
e
s
9,
3 0
3 9
,
3 0
3 9,
3 0
3 8,
6 6
8 Me
m
b
e
r
s
h
i
p

d
e
v
e
l
o
p
m
e
n
t
1,
6 9
6 8
,
3 4
3 1
0 ,
0 3
9 10
,
0 3
9 1,
1 4
6 Se
e

a
c
c
o
m
p
a
n
y
i
n
g

n
o
t
e
s

a
n
d

i
n
d
e
p
e
n
d
e
n
t

a
c
c
o
u
n
t
a
n
t
'
s

r
e
v
i
e
w

r
e
p
o
r
t
.
8 At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

As
s
i
s
t
a
n
c
e

L
e
a
g
u
e

o
f

S
L
O

C
o
u
n
t
y

St
a
t
e
m
e
n
t

o
f

F
u
n
c
t
i
o
n
a
l

E
x
p
e
n
s
e
s
Fo
r

t
h
e

Y
e
a
r

E
n
d
e
d

Ma
y

3 1
,

2 0
2 3
W
i
t
h

C
o
m
p
a
r
a
t
i
v
e

T
o
t
a
l
s

f
o
r

2 0
2 2
--
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Y
e
a
r

E
n
d
e
d

M
a
y

3 1
,

S
e
r
v
i
c
e
s
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
--
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
S
u
p
p
o
r
t
i
n
g

S
e
r
v
i
c
e
s
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Op
e
r
a
t
i
o
n
Sc
h
o
o
l

B
e
l
l
Op
e
r
a
t
i
o
n
Bo
o
k
s
h
e
l
f
Op
e
r
a
t
i
o
n
Sc
h
o
o
l
Su
p
p
l
y
/
D
e
n
t
a
l
Ki
t
s
To
t
a
l
Pr
o
g
r
a
m
Se
r
v
i
c
e
s
Fu
n
d
r
a
i
s
i
n
g
Ac
t
i
v
i
t
i
e
s
Th
r
i
f
t

S
h
o
p
Ma
n
a
g
e
m
e
n
t
an
d

G
e
n
e
r
a
l
Me
m
b
e
r
s
h
i
p
De
v
e
l
o
p
m
e
n
t
To
t
a
l
Su
p
p
o
r
t
i
n
g
Se
r
v
i
c
e
s
To
t
a
l
Ex
p
e
n
s
e
s
To
t
a
l
Ex
p
e
n
s
e
s
Ye
a
r

E
n
d
e
d
Ma
y

3 1
,

2 0
2 2
Su
p
p
l
i
e
s
2,
2 6
2 7,
2 7
7 2,
1 1
8 11
,
6 5
7 11
,
6 5
7 10
,
4 0
7 Le
s
s

e
x
p
e
n
s
e
s

i
n
c
l
u
d
e
d

w
i
t
h
re
v
e
n
u
e

o
n

s
t
a
t
e
m
e
n
t

o
f
ac
t
i
v
i
t
i
e
s
(2
,
2 6
2 )
(2
,
2 6
2 )
(2
,
2 6
2 )
(3
,
0 3
0 )

T
o
t
a
l

e
x
p
e
n
s
e
s

p
e
r
st
a
t
e
m
e
n
t

o
f

a
c
t
i
v
i
t
i
e
s
$

4 1
9 ,
5 0
3 $2
4 ,
5 3
8 $2
5 ,
8 0
9 $

4 6
9 ,
8 5
0 $
$1
7 7
,
7 3
8 $

3 1
,
9 0
9 $1
7 ,
4 3
0 $

2 2
7 ,
0 7
7 $

6 9
6 ,
9 2
7 $

5 3
5 ,
2 6
5 Se
e

a
c
c
o
m
p
a
n
y
i
n
g

n
o
t
e
s

a
n
d

i
n
d
e
p
e
n
d
e
n
t

a
c
c
o
u
n
t
a
n
t
'
s

r
e
v
i
e
w

r
e
p
o
r
t
.
9 At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

1.Significant Accounting Policies
a.Nature of activities
Assistance League of San Luis Obispo County (chapter) is a nonprofit corporation and is a chartered chapter of National Assistance League. The chapter provides the following programs:
* Operation School Bell provides new clothing, shoes, and dental hygiene kits to grades kindergarten through 12th in the San Luis Obispo County.
* Operation Bookshelf provides a new grade appropriate book for grades kindergarten through 12th, as well as their pre-school siblings in the San Luis Obispo County. * Operation School Supply provides grade appropriate school supply totes for grades kindergarten through 12th in the San Luis Obispo County.
* Operation Dental Kit provides a dental hygiene kit for grades kindergarten through 12th in San Luis Obispo County.

The chapter's support and revenues come primarily from contributions and other fundraising efforts including special events and thrift store operations.
b.Basis of accounting and preparation
i.Basis of accounting
The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) on the accrual basis of accounting and, accordingly, reflect all significant receivables, payables and other liabilities. ii.Basis of preparation
The financial statements are presented in accordance with the provisions of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 958, Not-for-Profit Entities. Under ACS 958, the chapter is required to report information regarding its financial position and activities according to two classes of net assets:
* Net assets without donor restrictions - net assets not subject to donor-imposed restrictions or law. * Net assets with donor restrictions - net assets subject to donor-imposed restrictions that can be fulfilled by actions of the chapter pursuant to those restrictions or that expire by the passage of time.

Contributions restricted by donors whose restrictions are met in the same reporting periods are recorded as without restrictions. Net assets whose use is limited by donor-imposed restrictions are recorded as net assets with restrictions and are released from restrictions when donor stipulations have been met. 10 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

1.Significant Accounting Policies
c.Comparative financial Information
The financial statements include certain prior-year summarized comparative information in total but not by net asset class. Such information does not include sufficient detail to constitute a presentation in conformity with U.S. GAAP. Accordingly, such information should be read in conjunction with the chapter's reviewed financial statements for the year ended May 31, 2022, from which the summarized information was derived. d.Fair value measurements
The chapter follows guidance issued by the FASB on fair value measurements, which establishes a framework for measuring fair value, clarifies the definition of fair value within that framework, and expands disclosures about the use of fair value measurements. This guidance applies wherever fair value is the applicable measurement. This guidance establishes fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair values into Levels 1, 2 and 3.

Level 1 inputs consist of unadjusted quoted prices in active markets for identical instruments and have the highest priority. Level 2 inputs include quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or inputs other than quoted prices that are directly or indirectly observable. Level 3 inputs are unobservable and are given the lowest priority.

For purposes of financial reporting, the chapter has determined that fair values of its financial instruments, which include cash equivalents, accounts receivable and accounts payable, approximate the carrying values at May 31, 2023 and 2022, based on their short maturities and/or the terms available to the chapter in financial markets.
e.Cash and cash equivalents
Cash and cash equivalents include cash held in checking and money market accounts, time deposits, certificate of deposit and all highly liquid investments with original maturities of three months or less. Cash and highly liquid financial instruments which are either held for or restricted to long-term purposes are excluded from this definition.
f.Accounts receivable
The chapter considers accounts receivable to be fully collectible; accordingly, no allowance for doubtful accounts is required.
11 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

1.Significant Accounting Policies
g.Promises to give
Unconditional promises to give are recognized as contributions in the period received and as assets, decreases in liabilities, or expenses depending on the form of the benefit received. Promises to give are recorded at net realizable value if they are expected to be collected within one year and at net present value if they are expected to be collected in more than one year. Conditional promises to give are recognized when the conditions on which they depend are substantially met.
h.Inventories
The chapter maintains inventory of retail gift cards, books, school supplies and dental kits for use in its Operation School Bell, Operation School Supply, Operation Dental Kit, and Operation Bookshelf programs which is stated at the lower of cost or market determined by the first-in, first-out method. The chapter also maintains an inventory of used clothing and household items donated by chapter members and others for resale by a thrift shop operated by the chapter, which is stated at its estimated fair value. i.Concentrations of credit and market risk
The chapter operates in San Luis Obispo, California and is dependent upon the local economy. In January 2020, the World Health Organization declared the novel strain of coronavirus ("COVID-19") a Public Health Emergency of International Concern. The outbreak of COVID-19 has caused business disruptions to local, domestic, and global economies.

Cash and cash equivalents are maintained at high-quality financial institutions. Accounts at each institution are insured by the Federal Deposit Insurance Corporation up to $250,000. The chapter has not experienced any losses on its cash or cash equivalents.
j.Property and equipment
Property and equipment additions are recorded at cost, or if donated, at fair value on the date of donation. The chapter provides for depreciation of property and equipment by use of the straight-line method over the estimated useful lives as follows (Note 4):

Estimated
Useful Lives in Years
Software 3-5
Machinery and Equipment 5-10
Furniture and fixtures 5-10
Leasehold Improvements 10-45
Property and equipment are reviewed for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. Repair and maintenance costs are charged to operating expense as incurred. There were no impairment charges for the year ended May 31. 12 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

1.Significant Accounting Policies
j.Property and equipment
Depreciation expense for May 31, 2023 was $ 1,591 (2022: $ 2,162). k.Leases
In February 2016, the Financial Accounting Standards Board (FASB) issued guidance (Accounting Standards Codification [ASC] 842, Leases) to increase transparency and comparability among chapters by requiring the recognition of right-of-use (ROU) assets and lease liabilities on the balance sheet. Most prominent among the changes in the standard is the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases. Under the standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases.

The chapter adopted the standard effective June 1, 2022 and recognized and measured leases existing at, or entered into after, June 1, 2022 using the transition method, with certain practical expedients.

The chapter leases real estate for commercial retail and administrative purposes. It determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (ROU) assets, other current liabilities, and operating lease liabilities on the balance sheet.

ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of the leases do not provide an implicit rate, the chapter uses an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

The lease agreement does not contain any material residual value guarantees or material restrictive covenants.

In evaluating contracts to determine if it qualifies as a lease, factors are considered such as if the chapter obtained substantially all of the rights to the underlying asset through exclusivity, if it can direct the use of the asset by making decisions about how and for what purpose the asset will be used and if the lessor has substantive substitution rights. This evaluation may require significant judgment.

The chapter determines the discount rate used to measure the right-of-use asset and lease liability, it uses rates implicit in the lease, or if not readily available, it uses its incremental borrowing rate. The incremental borrowing rate is based on an estimated secured rate comprised of a risk-free rate plus a credit spread as secured by the chapter's assets. Determining a credit spread as secured by chapter assets may require significant judgment.
13 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

1.Significant Accounting Policies
l.Revenue recognition
i.Contributions
The chapter recognizes contributions when cash, securities, other assets or an unconditional promise to give is received. Conditional promises to give, that is, those with a measurable performance or other barrier and right of return, are not recognized until the conditions on which they depend have been met.

All contributions are considered to be available for use unless specifically restricted by the donor. When a donor restriction expires, that is, when a stipulated time restriction ends or purpose restrictions are accomplished, these net assets are reclassified to contributions without donor restrictions and reported in the statement of activities as net assets released from restrictions. Donor-restricted contributions whose restrictions are met in the same reporting period are reported as support without restrictions. ii.Thrift Shop Sales
Revenues are recognized when unconditional contributions and grants are received.

Revenue generated from the sale of donated used clothing and household items from the chapter's thrift shop is recognized at point of sale at which time all performance obligations have been satisfied.

The Financial Accounting Standards Board (FASB) issued new guidance with Topic 606, Revenue from Contracts with Customers, in the Accounting Standards Codification (ASC). Topic 606 supersedes the revenue recognition requirements in FASB ASC 605, Revenue Recognition, and requires the recognition of revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. The new guidance also added Subtopic 340-40, Other Assets and Deferred Costs-Contracts with Customers, to the ASC to require the deferral of incremental costs of obtaining a contract with a customer. Collectively, we refer to the new Topic 606 and Subtopic 340-40 as the "new guidance." Adoption of the new guidance resulted in no significant changes to the chapter's accounting policies for revenue and cost recognition, as previously described.
iii.Fundraising Events
The chapter records special event revenue equal to the fair value of direct benefit to donors, and contribution income for the excess received when the event takes places. iv.Membership
The performance obligation related to membership dues is completely satisfied within the fiscal year, and any membership dues collected in advance of the next fiscal year are recognized as deferred dues revenue.
14 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

1.Significant Accounting Policies
m.Donated materials, services and free use of facilities Significant materials, services and free use of facilities are donated to the chapter by various individuals, corporations and other organizations, and are reflected in the accompanying financial statements at their fair values at the date of donation.

In addition, a significant portion of the chapter's functions and programs are conducted by unpaid volunteers.

The value of this contributed time is not reflected in the accompanying financial statements since the services do not require specialized skills. During the year ended May 31, 2023, these volunteers donated approximately 23,104 hours with an estimated value of $734,707.20. The value was computed using an estimated hourly rate of $31.80, based upon the 12-month average hourly wage of “production and nonsupervisory employees on private nonfarm payrolls, seasonally adjusted” (nonagricultural workers in the U.S.) and increasing the amount by 15% to estimate fringe benefits, as of December 31, 2022 as determined by the U.S. Department of Labor, Bureau of Labor Statistics.
n.Income taxes
The chapter is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. In addition, the chapter qualifies for the charitable contribution deduction under Section 170(b )( 1 )(A) and has been classified as an organization that is not a private foundation under Section 509(a)(2). The chapter is also exempt from state income taxes under Section 23701d of the Revenue and Taxation Code of the State of California.

The chapter has applied the provisions of the FASB's ASC 740-10, Accounting for Uncertainty in Income Taxes. Under ASC 740-10, nonpublic enterprises, including nonprofit organizations, are required to record a tax liability when substantial uncertainties exist as to whether certain income is exempt from federal, state and local income tax. As of May 31, 2022, the chapter had no substantial uncertain income tax provisions. o.Use of estimates
The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and may have impact on future periods. p.Impairment of long lived assets
i.Description of process for evaluation
In the event that facts and circumstances indicate that the chapter's long-lived assets may be impaired, an evaluation of recoverability would be performed. Such an evaluation entails comparing the estimated future undiscounted cash flows associated with the asset to the asset's carrying amount to determine if a write down to market value or discounted cash flow value is required. The chapter considers that no circumstances exist that would require such an evaluation. 15 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

1.Significant Accounting Policies
q.Functional allocation of expenses
The costs of program and supporting services have been summarized on a functional basis in the statement of activities. The statement of functional expenses presents the natural classification of expenses by function.

Accordingly, certain costs have been allocated among the programs and supporting services benefited. r.Recent accounting guidance
The chapter adopted Accounting Standards Update (ASU) No. 2020-07, Presentation and Disclosure by Not- for-Profit Entities for Contributed Nonfinancial Assets, which increases the transparency of contributed nonfinancial assets for not-for-profit entities through enhancements to presentation and disclosure. The presentation and disclosure of contributed nonfinancial assets have been enhanced in accordance with the standard. The adoption of the standard did not change the recognition and measurement requirements for contributed nonfinancial assets.

In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842), which requires lessees to recognize leases on the balance sheet and disclose key information about leasing arrangements. The new standard establishes a right-of-use (ROU) model that requires a lessee to recognize a ROU asset and lease liability on the statement of financial position for most leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of the expense recognition in the consolidated statement of activities. The effective date for this standard was delayed to annual reporting periods beginning after December 15, 2021.
16 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

2.Cash and Cash Equivalents
Cash and cash equivalents consisted of the following:
2023 2022
Cash on hand - Thrift Shop $200$ 200
Founders Community operating account 29,458 81,516
Wells Fargo - Thrift Shop 207,406 266,333
Founders Community money market account 160,065 116,431 American Riviera certificate of deposit 100,000 -
Totals $497,129 $464,480

3.Prepaid expenses
a.Prepaid expenses consisted of the following:
2023 2022
Insurance $7,170$6,492
National dues 3,800 -
Other 457 1,052
Total $11,427 $7,544

4.Inventories
Inventories consisted of the following:
2023 2022
Retail gift cards, books, school supplies and dental kits for use in the Operation School Bell, Operation School Supply, Operation Dental Kit, and the Operation Bookshelf Programs $ 44,486 $ 104,697
Used clothing and household items held for sale at the Thrift Shop 116,086 110,133 Totals $160,572 $214,830
17 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

5.Property and Equipment
Property and equipment consisted of the following:

Cost
Accumulated
Depreciation
2023
Net Book
Value
2022
Net Book
Value
Property and equipment $ 17,665 $ (17,153)$512$1,497
Leasehold improvements 32,486 (31,717)769 1,375
Totals $50,151 $(48,870)$1,281 $2,872

6.Deferred Revenue
Changes in deferred revenue consisted of the following:
2023 2022
Deferred revenue, beginning of year $6,868$30,966
Membership dues recognized at beginning of the year (6,335)(5,620) Recognize Warm your Heart revenue -(25,504)
Increase in deferred collaboration gifts 3,596 -
Increase in membership dues 365 6,335
Increase in gift card revenue 309 691
Deferred revenue, end of year $4,803 $6,868
18 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

7.Leases - Lessee
The chapter leases its main operating facility in San Luis Obispo, California for a term of 8 years that commenced June 1, 2018 under a noncancelable lease, classified as an operating lease. The lease expires May 31, 2026.

The leased property is used for commercial retail and administrative purposes. There are no non-lease components. There is a one-year option for lessee to extend or terminate the operating lease. The lease has a remaining lease term of 3 years. The weighted average remaining lease term of this agreement is 3 years. As of the ASC 842 commencement date, June 1, 2022, the operating lease ROU (right-of-use) assets and operating lease liability related to this agreement was $565,000 and $565,000, respectively, as of May 31, 2023. The total rent expense under this agreement was $165,356 for the year ended May 31, 2023.

The rate implicit in the lease is not readily determinable. Management considers the lessee’s incremental borrowing rate to be 7%, which reflects the fixed rate at which Lessee could borrow a similar amount in the same currency, for the same term, and with similar collateral as in the lease at the commencement date. The weighted average discount rate is 7%, and is applied to the operating lease. a.Right-of-use asset and lease liability
i.Amortization of operating lease components for the year ended May 31, 2023:

Lease
liability
Unamortized
direct costs
Accrued
lease
payments
Prepaid rent
at May 31,
2023
Right-of-
use asset
Description Title
Balances, June 1, 2022 $ 565,000 $ - $ - $ - $ 565,000
Balances, May 31, 2023 453,628 - (16,917) 12,577 449,288 Amortization $ (111,372)$-$ (16,917)$-$(115,712)
b.Estimated future minimum lease payments under the non-cancelable lease as of May 31, 2023 is as follows:
2023
2024 $ 161,676
2025 173,200
2026 185,330
Total $520,206
19 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

7.Leases - Lessee
c.The components of operating lease expense were as follows:

Other
Lease cost:

Operating lease cost $165,356
Total 165,356
Lease cost by category:

Lease cost - commercial retail 146,179
General and administrative 14,865
Program 4,312
Total $165,356
d.Other information related to leases as of May 31, 2023 was as follows:

Weighted average remaining lease term 3 years Weighted average discount rate 7%

8.Net Assets
At May 31, 2023, net assets were restricted by donors or designated by the chapter as follows:

Collaboration program with Grape Growers of Paso Robles to provide clothing, school-related supplies, hygiene kits to children $3,504
Total Net Assets $3,504
20 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

9.Liquid Resource Management
To build upon its past achievements and ensure future sustainability, the chapter has a long-standing policy that requires the governing board to maintain net assets without restrictions sufficient for one year's operating expenses. However, assets received with donor restrictions to be used in the next fiscal year for operating purposes are considered to be available for general expenditure spending as of May 31, 2023.

In addition to the financial assets available to meet general expenditures over the next 12-months noted above, the chapter has other current assets and deferred revenue that will likely be converted to cash or available for general expenditures during the normal course of next year's operations. Such current assets include the chapter's program and thrift shop inventories and prepaid expenses.

As of May 31, 2023, the following financial assets could readily be made available within one year of the balance sheet date to meet general expenditures:
2023
Cash and cash equivalents $ 497,129
Accounts receivable 3,500
Financial assets available for general expenditures over next 12-months $500,629 21 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

10.Fundraising Events and Activities
a.The chapter conducts various fundraising events and activities to help fund current operations.

The revenue and related expenses from such events and activities for the year ended May 31, 2023, were as follows:

Event Revenue
Cost of Direct
Benefits to
Attendees Other Direct Costs Net Revenue
Warm Your Heart $ 100,247 $ - $ (2,262) $ 97,985
Totals $100,247 $-$(2,262)$97,985

11.In-Kind Contributions
The chapter receives in-kind contributions for its thrift store operation and school-related programs. The thrift store in-kind contributed merchandise includes clothing and household supply items. School-related program in-kind contributions include dental supplies, clothing gift cards and educational books. The estimated value of the in-kind goods is based on estimated fair market values and are not restricted by donors. The thrift store in- kind contributed merchandise revenue is reported under fundraising in the statement of activities and changes in net assets. Other in-kind cost values are are initially recorded as inventory items, then allocated as distributed to in-kind program expense in the statement of functional expenses. a.In-kind contributions for the year ended May 31, 2023 were as follows:
2023
In-kind contributions
Thrift store merchandise $ 348,272
Dental supplies 1,600
Clothing gift cards 49,592
Educational books 15,858
Total $415,322

12.Functional Expenses
The financial statements report certain categories of expenses that are attributable to more than one program or supporting function. Therefore, these expenses require allocation on a reasonable basis that is consistently applied. The expenses that are allocated include depreciation, interest, and office and occupancy, which are allocated on a square-footage basis.
22 Attachment 4
Council Agenda 8-20-2024 Item 3.A

Assistance League of SLO County
Notes to the Financial Statements
For the Year Ended May 31, 2023 With Comparative Totals for 2022

13.Subsequent Events
Assistance League of San Luis Obispo County has evaluated events subsequent to May 31, 2023, to assess the need for potential recognition or disclosures in the financial statements. Such events were evaluated through the report date, the date these financial statements were available to be issued.

The chapter agreed to a lease extension on June 1, 2023, to an original lease executed June 1, 2018, of property used for its retail operations. The lease extension was anticipated. The substance of the lease extension is included in ASC 842 accounting and disclosures within these financial statements as of and for the year ended May 31, 2023.
23 Attachment 4
Council Agenda 8-20-2024 Item 3.A

OrganizaƟon: AssociaƟon of Amputee Surfers
Requested Funding: 10000
Previously received funding: No
Direct beneﬁt to the City of Pismo Beach: These funds speciﬁcally help the disabled, Veterans, and First responders in our community access the beach, the ocean, and experience the healing power of AdapƟve Surﬁng.

These funds also help our abled bodied community members of Pismo Beach, by providing them a program to volunteer their Ɵme at and to help them in building community spirit.

Materially, during the 24/25 Fiscal year these funds help pay to offset the costs of 26 of our Surf on Saturday/VetSurf progam. the funds will be used to help cover the costs beach snacks, beach wheelchairs, adapƟve surf boards, pop-ups and all the miscellaneous gear needed to provide successful events on our beauƟful beaches.

Support Fiscal 2024 & 2025 City Goals: The requested funds will help the city achieve its ﬁscal year 2024 & 2025 city goals, by providing a safe program for community members to parƟcipate in and volunteer at, while also highlighƟng our small beach town character, showing residence and tourist that we are a community that believes in helping our fellow ciƟzens and sharing the beauty of our community.

Priority of Needs:Our greatest funding need right now is new adapƟve surf gear and Instructor training. As we do our program the gear gets a great amount of wear and tear, and we are always in need of geƫng more locals trained to help support our efforts.

Program DescripƟon: These funds would be used to help support our efforts to share the healing power of adapƟve surﬁng with those living with disabiliƟes, Veterans and First Responders. Our programs AmpSurf and The Para Surf League have been doing this in Pismo Beach for over 20 years and through the support we have been able to change thousands of lives and also engage community members in the process.

Point of Contact: Dana Cummings
Fiscal Year 2025 Outside Agency Request
Attachment 4
Council Agenda 8-20-2024 Item 3.A

For management use only
Management Report
Association of Amputee Surfers (DBA AmpSurf/PSL)
For the period ended December 31, 2023
Prepared on
May 24, 2024
Attachment 4
Council Agenda 8-20-2024 Item 3.A

TTable of Contents
Profit and Loss......................................................................................................................................................3 Balance Sheet.......................................................................................................................................................8 Statement of Cash Flows......................................................................................................................................9 Attachment 4
Council Agenda 8-20-2024 Item 3.A

PProfit and Loss
January - December 2023
Total
INCOME
CONTRIBUTIONS - UNRESTRICED 110,713.13
CFC Contributions 167.18
Discounts/Refunds received 601.53
Donation 85,257.46
Donations thru PayPal 9,111.11
FB Donations 2,056.38
PayPal Giving Fund 187.74
Sponsors/Partners 7,648.39
Total CONTRIBUTIONS - UNRESTRICED 215,742.92
Donations thru PayPalu -4.82

FUNDRAISING
Fundraising - CA 158.85
Golf Tournament 8,143.37
Sponsors 2,300.00
Total Golf Tournament 10,443.37
Operation Restoration 200.00
Operation Restoration - Silent Auction 1,275.00
Total Operation Restoration 1,475.00
Total FUNDRAISING 12,077.22

GRANTS - RESTRICTED FUNDS
Federal Government Grants 101,755.00
Total GRANTS - RESTRICTED FUNDS 101,755.00
MERCHANDISE SALES 12,373.16
Clothing & Swag 25.00
Shipping Income 6.70
Total MERCHANDISE SALES 12,404.86

PRGSERV -INC

CLINICS
Surf Clinics
CA - EVENTBRITE REGISTRATION INCOME 358.03
NE - EVENTBRITE REGISTRATION INCOME 548.61
NY - EVENTBRITE REGISTRATION INCOME 86.20
Refund 385.80
Surf Clinic deposit refund -476.34
Total Surf Clinics 902.30
Total CLINICS 902.30
CONTESTS Income
CONTEST PSL ENTRY FEE 4,500.11
Total CONTESTS Income 4,500.11
Attachment 4
Council Agenda 8-20-2024 Item 3.A

TTotal

INSTR SERV INCOME
Discounts given -17,700.00
TTotal INSTR SERV INCOME --17,700.00
TTotal PRGSERV -INC --12,297.59
PSL - EVENTBRITE REGISTRATION INCOME 6,320.00
Uncategorized Income 870.00
Z - Dana to Allocate 400.00
TTotal Income 3337,267.59
GROSS PROFIT 3337,267.59

EXPENSES

ADMIN & OPERATIONS
Administrative Overhead 576.08
Advertising/Promotional 2,213.38
Bank charges -1.41
PayPal Charges 4.99
TTotal Bank charges 33.58
Business Memberships 10,857.12
Donations -33.97
Dues & Subscriptions 286.61
Legal fees 9,034.40
Licenses & Fees 93.59
Office Supplies 1,309.99
Payroll Expenses 1,666.57
CA - Suta Expense 991.66
Fed - Social Security Expense 3,477.63
Taxes 623.02
Wages 1,557.00
TTotal Payroll Expenses 88,315.88
Software Expense 5,668.93
Utilities 2,411.68
Utilities-Phone 252.00
TTotal Utilities 22,663.68
TTotal Administrative Overhead 440,989.27
Professional fees - other 1.00
TTotal ADMIN & OPERATIONS 440,990.27
CA Store - Admin Personnel 3.54
CA Store - Operations 1,444.02
CA Store - Shipping Fees 43.88
CA Store - Supplies 8,219.90
FUNDRAISING.

Golf Tournament Expenses 3,298.05
TTotal FUNDRAISING.33,298.05
Melio Credit card fee 16.50
Attachment 4
Council Agenda 8-20-2024 Item 3.A

TTotal
Operation Restoration Expenses 223.67
Payroll Expenses
Taxes 173.78
Wages 49,501.89
TTotal Payroll Expenses 449,675.67

PRGSERV - EXP

CLINICS - PRG
Surf Clinic Admin 600.00
Surf Clinic Operations 3,004.85
Surf Clinic Personnel Admin 133.06
Surf Clinic Personnel Operations 133.06
Surf Clinic Supplies 2,355.62
Surf Clinic Travel 503.52
TTotal CLINICS - PRG 66,730.11
CONTEST - PRG 11,407.50
CONTEST - TRAVEL 2,175.57
TTotal CONTEST - PRG 113,583.07
Contest PSL Operations 73,775.99
Contest PSL Travel 4,065.10

VETPRGS
CA PRG 203.10
CA - Admin 1,027.73
CA - Admin Personnel 3,112.02
CA - Oper Personnel 7,932.55
CA - Operations 27,605.40
CA - Supplies 15,160.20
CA - Travel 16,340.74
TTotal CA PRG 771,381.74
Contest VA PRG
Contest VA Admin 87.84
Contest Operations 9,961.42
Contest Personnel Admin 1,217.36
Contest Personnel Operations 1,159.37
Contest Supplies 280.19
Contest Travel 3,424.76
TTotal Contest VA PRG 116,130.94

INSTR-PRG
Instructor Operations 15,857.79
Instructor Personnel Admin 1,604.22
Instructor Personnel Operations 1,594.22
Instructor Supplies 253.76
Instructor Travel 1,473.11
TTotal INSTR-PRG 220,783.10
Attachment 4
Council Agenda 8-20-2024 Item 3.A

TTotal
NE PRG
NE - Admin 553.45
NE - Admin Personnel 1,982.41
NE - Oper Personnel 1,791.58
NE - Operations 7,715.86
NE - Supplies 2,111.52
NE - Travel 1,885.26
TTotal NE PRG 116,040.08
NY PRG
NY - Admin 17.86
NY - Admin Personnel 2,017.36
NY - Oper Personnel 1,780.86
NY - Supplies 1,815.19
NY - Travel 381.34
NY- Operations 6,235.57
TTotal NY PRG 112,248.18

PNW PRG
PNW - Admin 17.86
PNW - Admin Personnel 1,879.62
PNW - Oper Personnel 1,761.15
PNW - Operations 4,784.95
PNW - Travel 4,222.29
PNW- Supplies 253.76
TTotal PNW PRG 112,919.63
PR PRG
PR - ADMIN 17.86
PR - ADMIN PERSONNEL 1,635.61
PR - OPER PERSONNEL 1,635.62
PR - OPERATIONS 9,965.37
PR - SUPPLIES 1,137.46
PR - TRAVEL 6,674.75
TTotal PR PRG 221,066.67
VetSurf PRG
VetSurf - PERS-Admin 1,344.98
VetSurf - Personnel Operations 1,585.83
VetSurf Admin 1,036.10
VetSurf Operations 2,569.38
VetSurf Supplies 4,286.97
VetSurf Travel 1,870.61
TTotal VetSurf PRG 112,693.87
TTotal VETPRGS 1183,264.21
TTotal PRGSERV - EXP 2281,418.48
Uncategorized Expense
Attachment 4
Council Agenda 8-20-2024 Item 3.A

TTotal
Z -FOR DANA TO ALLOCATE 7,887.92
Advertising expenses
Website Expense 170.40
TTotal Advertising expenses 1170.40
Program Expenses
PayPal Expenses 145.52
Professional fees - others 5.00
TTotal Program Expenses 1150.52
TTotal Z -FOR DANA TO ALLOCATE 88,208.84
TTotal Uncategorized Expense 88,208.84
TTotal Expenses 3393,542.82
NET OPERATING INCOME --56,275.23
NET INCOME $$ -56,275.23
Attachment 4
Council Agenda 8-20-2024 Item 3.A

BBala nce Sheet
As of December 31, 2023
Total
ASSETS
Current Assets
Bank Accounts
B of A 325076683644 180,843.16
PayPal 22,945.66
Venmo 5,935.71
Total Bank Accounts 209,724.53
Accounts Receivable
Accounts Receivable 5,900.00
Total Accounts Receivable 5,900.00
Other Current Assets
Uncategorized Asset 202.00
Total Other Current Assets 202.00
Total Current Assets 215,826.53
Fixed Assets
Accumulated depreciation -13,633.33
Trailer 11,000.00
Vehicles 7,000.00
Total Fixed Assets 4,366.67
TOTAL ASSETS $220,193.20

LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
Direct Deposit Payable 1,388.09
Payroll Liabilities 0.00
CA PIT / SDI 48.11
CA SUI / ETT 174.26
Federal Taxes (941/944)817.78
Total Payroll Liabilities 1,040.15
Total Other Current Liabilities 2,428.24
Total Current Liabilities 2,428.24
Total Liabilities 2,428.24
Equity
Opening Bal Equity 2,806.15
Unrestrict (retained earnings)271,234.04
Net Income -56,275.23
Total Equity 217,764.96
TOTAL LIABILITIES AND EQUITY $220,193.20
Attachment 4
Council Agenda 8-20-2024 Item 3.A

SStatement of Cash Flows
Ja
n
u
a
r
y

D
e
c
e
m
b
e
r

2 0
2 3
Total
OP
E
R
A
T
I
N
G

A
C
T
I
V
I
T
I
E
S
Ne
t

I
n
c
o
m
e
-5
6 ,
2 7
5 .
2 3
Ad
j
u
s
t
m
e
n
t
s

t
o

r
e
c
o
n
c
i
l
e

N
e
t

I
n
c
o
m
e

t
o

N
e
t

C
a
s
h

p
r
o
v
i
d
e
d

b
y

o
p
e
r
a
t
i
o
n
s
:

Ac
c
o
u
n
t
s

R
e
c
e
i
v
a
b
l
e
-5
,
9 0
0 .
0 0
Un
c
a
t
e
g
o
r
i
z
e
d

A
s
s
e
t
-2
0 2
.
0 0
Di
r
e
c
t

D
e
p
o
s
i
t

P
a
y
a
b
l
e
1,
3 8
8 .
0 9
Pa
y
r
o
l
l

L
i
a
b
i
l
i
t
i
e
s
:

C
A

P
I
T

S
D
I
24 .
1 7
Pa
y
r
o
l
l

L
i
a
b
i
l
i
t
i
e
s
:

C
A

S
U
I

E
T
T
98 .
1 0
Pa
y
r
o
l
l

L
i
a
b
i
l
i
t
i
e
s
:

F
e
d
e
r
a
l

T
a
x
e
s

(
9 4
1 /
9 4
4 )
48 4
.
8 6
Total Adjustments to reconcile Net Income to Net Cash provided by operations:
-4,106.78
Net cash provided by operating activities
-60,382.01
FI
N
A
N
C
I
N
G

A
C
T
I
V
I
T
I
E
S
Op
e
n
i
n
g

B
a
l

E
q
u
i
t
y
2,
8 0
6 .
1 5
Un
r
e
s
t
r
i
c
t

(
r
e
t
a
i
n
e
d

e
a
r
n
i
n
g
s
)
-3
,
9 7
9 .
9 5
Net cash provided by financing activities
-1,173.80
NE
T

C
A
S
H

I
N
C
R
E
A
S
E

F
O
R

P
E
R
I
O
D
-61,555.81
Ca
s
h

a
t

b
e
g
i
n
n
i
n
g

o
f

p
e
r
i
o
d
27 1
,
2 8
0 .
3 4
CA
S
H

A
T

E
N
D

O
F

P
E
R
I
O
D
$209,724.53
At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

OrganizaƟon: Cal Poly State University and Cal Poly Partners Requested Funding: 60000
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: The requested funds will be used to recruit and support a new graduate student. The graduate students who have been part of this research program have served as project managers, helping set the research agenda, coordinaƟng all ﬁeld acƟviƟes, and overseeing the work of the undergraduate researchers. They also engage in signiﬁcant outreach to the local communiƟes, interested parƟes, and resource managers.

Without them and their efforts, it would be impossible for this program to conƟnue. This research program is the most comprehensive monitoring effort for Pismo clams anywhere in California, providing key informaƟon about the status, biology, and ecology of this iconic and locally important species whose fate is inextricably linked to the City of Pismo Beach.

Support Fiscal 2024 & 2025 City Goals: The requested funds will help the City achieve its conservaƟon and outreach and educaƟon goals. Since Pismo clam populaƟons have recovered—along with the appearance of legal-sized individuals—for the ﬁrst Ɵme in over 30 years, understanding the status of local populaƟons is criƟcal to managing the ﬁshery sustainably into the future. In addiƟon, the research team engages in substanƟal outreach and educaƟon, providing digesƟble scienƟﬁc informaƟon to the local community.

Priority of Needs: We are requesƟng support for 2 years of tuiƟon (at $10k per year) and 2 years of student sƟpend support (at $20k per year). We would prioriƟze tuiƟon and whatever sƟpend support was available.

Program DescripƟon: Pismo Clams were once abundant on the Central Coast—and are iconic for the City of Pismo Beach, but populaƟons had declined over the last several decades. Cal Poly began monitoring Pismo clam populaƟons locally on Pismo Beach in 2015—with support from the City of Pismo Beach—and have documented signiﬁcant populaƟon recovery, including the appearance of legal-sized individuals for the ﬁrst Ɵme since the early 1990s. Along with nearly 10 years of populaƟon data, the Cal Poly team has raised over $300,000 in addiƟonal funding to maintain the monitoring program and explore a range of biological and ecological quesƟons related to this culturally and locally important species, all of which has provided important informaƟon to managers. While there is ﬁnancial support in place to support undergraduate parƟcipaƟon in the project, maintaining support for the graduate students who are essenƟal to managing the undergraduate research team has been challenging. Therefore, the Cal Poly team requests funding to recruit a new graduate student to help manage the conƟnuaƟon of this important program.

Point of Contact: Benjamin RuƩenberg
Fiscal Year 2025 Outside Agency Request
Attachment 4
Council Agenda 8-20-2024 Item 3.A

Attachment 4
Council Agenda 8-20-2024 Item 3.A

At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

Attachment 4
Council Agenda 8-20-2024 Item 3.A

At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

Attachment 4
Council Agenda 8-20-2024 Item 3.A

OrganizaƟon: The Environmental Center of San Luis Obispo (ECOSLO) Requested Funding: 9970
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: Our Creeks-to-Coast Cleanup Day Event and Adopt- A-Spot programs help to restore and preserve natural, public spaces in the City of Pismo Beach and San Luis Obispo County. In order to facilitate our stewardship programs in the City of Pismo Beach and county sites, we request $5,000 in grant support. Requested funds will pay for ECOSLO’s essenƟal Volunteer Coordinator and Volunteer Services team members so we may host cleanup sites and direct ongoing volunteer cleanup acƟviƟes. AddiƟonally, support from the City of Pismo Beach will help to purchase necessary cleanup kits and safety supplies for local parƟcipants.

Creeks-to-Coast Clean Up Day Event
In past years, an average of 232 lbs of trash per year has been removed from public spaces in the City of Pismo Beach, involving the parƟcipaƟon of approx. 150 local volunteers annually.

Since 2015 we have removed 1417 lbs of liƩer, involving 1074 volunteers. For this coming year, ECOSLO has idenƟﬁed four locaƟons in the City of Pismo Beach that have a high-need for liƩer removal during the September 2025 annual Creeks-to-Coast Cleanup event. These include:

Downtown Pismo Beach, the pier, Ocean View Avenue near the Sea Venture Hotel, and Palisades Park. Requested funds will help to support the coordinaƟon staff required for this major event, including recruitment and training of site captains and day-of volunteers. In addiƟon, we will provide cleanup kits, including a trash grabber, 5 gallon bucket, trash bags and gloves to volunteers who can’t aƩend the cleanup event but would like to independently cleanup during the month of September. City staff is not required for this event except for trash pickup services.

Our Volunteer Coordinator will acƟvely recruit, train and foster volunteer parƟcipaƟon for this event, dedicaƟng an esƟmated 160 hrs (@ $33/hr) towards hosƟng the cleanup event on City of Pismo Beach sites. ($5,280)
Adopt-A-Spot
For this program, the ECOSLO Volunteer Coordinator provides teams of Pismo-local volunteers with training, resources, and on-going guidance to complete monthly cleanups of adopted sites.

Since 2021, this program has resulted in the adopƟon of 12 cleanup sites in the City of Pismo Beach and neighboring Shell Beach. For the coming year, 6 sites in Pismo Beach have been idenƟﬁed as suitable locaƟons for ciƟzen adopƟon. We anƟcipate the compleƟon of over 40 volunteer-led cleanups during the project period, with previous cleanups resulƟng in the total Fiscal Year 2025 Outside Agency Request

Attachment 4
Council Agenda 8-20-2024 Item 3.A

removal of 186 lbs of trash. To conƟnue facilitaƟng this monthly program, ECOSLO requests grant funds to staff the essenƟal volunteer coordinator and purchase safety supplies for Pismo Beach volunteer ciƟzens.

Due to the enthusiasm of local residents and a robust volunteer community who have chosen to adopt many sites in the city, this posiƟon will dedicate an esƟmated 120 hrs (@ $33/hr) towards facilitaƟng the Adopt-A-Spot program during the project period. ($3,690) Safety Materials are available for volunteers at each site and include branded safety vests & hats; esƟmated $50 per volunteer x 20 volunteers. ($1,000)

Support Fiscal 2024 & 2025 City Goals: The requested funds will directly support the Vision described by the City of Pismo Beach and four of ﬁve Major City Goals for the 2024 & 2025 ﬁscal year.

Vision
Our cleanup programs work to preserve and enhance our shared environment. By removing hazardous, liƩered materials from public lands and prevenƟng its entry into coastal ecosystems our programs help to provide a safe place for local residents and visitors. By engaging SLO County ciƟzens in stewardship acƟviƟes and organizing a volunteer-based approach to the care of our natural lands, this program brings together our community and reinforces the small beach-town character of this unique city. By prevenƟng and managing polluƟon, these programs compliment city efforts to manage growth effecƟvely as economic growth oŌen coincides with the increased producƟon of disposable materials. The acƟviƟes included in Creeks-to-Coast Clean Up Day and Adopt-A-Spot support the success of the local tourist-based economy and uphold the reputaƟon of the City of Pismo Beach as an unforgeƩable coastal desƟnaƟon by helping to ensure the preservaƟon and beauƟﬁcaƟon of our natural, public spaces.

Major City Goals
Maintain a Focus on Public Safety:

By equipping local residents with the tools and training needed to complete cleanups independently, this program supports public safety and increases the availability of safety resources in the community. ECOSLO also provides volunteer parƟcipants with educaƟonal resources on what trash they may encounter during a cleanup and how to handle it safely so they are prepared during the event and anyƟme aŌer.

Water Supply, ConservaƟon and Central Coast Blue:

PrevenƟng trash from traveling into creeks and degrading our county’s natural resources helps to preserve reliable water sources. This program acƟvely engages the public through outreach and mobilizaƟon in order to address the increasing threats to our community’s resources and need for conservaƟon.

Community Character, BeauƟﬁcaƟon, and Quality of Life for Residents:

Attachment 4
Council Agenda 8-20-2024 Item 3.A

The proposed programs preserve and enhance the quality of lands by removing liƩered waste and prevenƟng further destrucƟon of our community’s favorite natural places. In doing so, ECOSLO works to restore and augment the natural beauty of SLO County, including coastal access points that are some of our region’s most desirable desƟnaƟons for both locals and visitors. Maintaining idenƟﬁed sites within Pismo Beach and other county locaƟons so they are once again valuable locaƟons for resident’s use upholds a standard of quality of life for the local community. Cleanup events and the adopƟon of local sites by community volunteers expands upon current opportuniƟes for residents to take pride in their environment, join together in a uniﬁed effort, and enact meaningful change with real-Ɵme beneﬁts to their community.

Housing and Homelessness:

A 2024 San Luis Obispo County Point-In-Time survey esƟmates that 1,171 individuals are houseless locally. Homeless encampments are oŌen established in creek beds and popular coastal access points. ECOSLO’s efforts to remove and prevent harmful polluƟon in waterways and reduce their entry to the marine environment complement other agency public work iniƟaƟves who are addressing the needs of the houseless community and response to public health concerns derived from increased waste in our environment.

Priority of Needs: ECOSLO’s impact is driven by volunteer parƟcipaƟon. In order to recruit a high number of local volunteers and organize their efforts in the Creeks-to-Coast Cleanup Day and Adopt-A-Spot programs, our organizaƟon relies on our Volunteer Coordinator and Volunteer Services posiƟons, leadership posiƟons which represent our highest priority for funding. Of the two events, our Creeks-to-Coast Cleanup Day is a priority over the Adopt-A-Spot program, as it connects with our larger, county-wide efforts and publicity.

Program DescripƟon: Founded in 1972, the Environmental Center of San Luis Obispo (ECOSLO) is a 501(c)(3) nonproﬁt organizaƟon dedicated to the protecƟon and preservaƟon of our county’s natural resources. To address the growing concern of environmental degradaƟon affecƟng our popular coastal communiƟes, our organizaƟon requests support for our Creeks-to- Coast Cleanup Day Event and Adopt-A-Spot enhancement programs.

The acƟviƟes included in these programs will directly serve the City of Pismo Beach and the health of the community by:
1) removing hazardous trash polluƟng public spaces;
2) enhancing the beauty of Pismo Beach;
3) equipping residents to meaningfully engage in stewardship pracƟces that support the enjoyment and wellbeing of our shared environment;

The Annual Creeks-to-Coast Cleanup Day is a county-wide, volunteer-based event that brings together SLO county residents of all ages in a widespread effort to remove harmful polluƟon that has accumulated in our county’s creeks, waterways, beaches and adjoining public lands.

Community sites chosen for cleanup are in need of extensive liƩer removal & pick-up in order to Attachment 4
Council Agenda 8-20-2024 Item 3.A

restore their environmental health and value as public, natural spaces. First held in 2005, previous successes of our program’s cleanup event includes the recruitment and uƟlizaƟon of over 22,000 volunteers and removal of approximately 136,000 lbs of trash from local creeks and delicate coastal ecosystems.

The Adopt-A-Spot program highlights the importance of ciƟzen iniƟaƟves in prevenƟng and managing polluƟon speciﬁcally derived from coastal tourism and recreaƟonal use of public lands. Launched in the City of Pismo Beach during 2021, this program empowers community members by providing them with the resources needed to complete coastal cleanups independently. Adopt-A-Spot volunteers collaborate on a monthly basis to address the polluƟon of city sites idenƟﬁed as public lands in need of regular aƩenƟon and liƩer prevenƟon. ECOSLO provides volunteers with training, clean-up materials, and ongoing guidance in order to maximize the impacts of the program and ensure effecƟve use of volunteer Ɵme.

ECOSLO requests grant support from the City of Pismo Beach to fund our organizaƟon’s essenƟal Volunteer Coordinator posiƟons and purchase necessary safety supplies for Pismo Beach volunteers so they may parƟcipate in meaningful stewardship efforts that help to preserve our renowned SLO county environment.

Point of Contact: Kendra Paulding
Attachment 4
Council Agenda 8-20-2024 Item 3.A

1/2
Environmental Center of SLO
Balance Sheet
As of April 30, 2024
TOTAL
ASSETS
Current Assets
Bank Accounts
CD - CoastHills 58,588.65
Checking - CoastHills 7,213.64
Paypal 482.09
Petty Cash 99.44
Savings - CoastHills 55.05
TTotal Bank Accounts $$66,438.87
Accounts Receivable
Accounts Receivable 19,950.00
TTotal Accounts Receivable $$19,950.00
Other Current Assets
CALFIRE Advance 18,095.97
DRD Advance 889.00
TTotal Other Current Assets $$18,984.97
TTotal Current Assets $$105,373.84
Fixed Assets
Equip Office - Accum Depreciati -10,456.00
Equip Office - Orig Cost 10,456.00
Equipment 126,864.18
N/R-M. Rafferty (Restitution)20,619.05
Allowance for doubtful accounts -20,000.00
TTotal N/R-M. Rafferty (Restitution)6619.05
TTotal Fixed Assets $$127,483.23
Other Assets
Security Deposit 2,200.00
TTotal Other Assets $$2,200.00
TTOTAL ASSETS $$235,057.07

LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Credit Cards
Commerce Bank 3,439.07
TTotal Credit Cards $$3,439.07
Other Current Liabilities
Payroll Liabilities 853.94
TTotal Other Current Liabilities $$853.94
TTotal Current Liabilities $$4,293.01
TTotal Liabilities $$4,293.01
Equity
Opening Bal Equity 12,738.83
Attachment 4
Council Agenda 8-20-2024 Item 3.A

2/2
TOTAL
Retained Earnings 288,136.48
Net Revenue -70,111.25
TTotal Equity $$230,764.06
TTOTAL LIABILITIES AND EQUITY $$235,057.07
Attachment 4
Council Agenda 8-20-2024 Item 3.A

1/2
ECOSLO
YTD Profit Loss
January - December 2023
TOTAL
Revenue
Donations 23,268.16
Fundraiser 5,850.35
Grants 10,000.00
CAL FIRE - Full Circle 162,999.68
TTotal Grants 1172,999.68
Interest/Dividend Income 678.97
Service Fee 850.00
SLO City Contract 31,000.00
SLO County Green Business Prog.13,500.00
SLO County Parks Contract 6,627.50
Sponsorships 10,500.00
TTotal Revenue $$265,274.66
GROSS PROFIT $$265,274.66
Expenditures
GENERAL & ADMIN 0.00
Advertising 2,164.00
Bank Fees 844.55
Dues, Fees & Subscriptions 2,409.30
Insurance - Liability & D&O 2,016.64
Meals & Entertainment 1,748.09
Office Supplies & Expense 2,135.38
Postage & Delivery 412.16
Professional Services 11,762.50
Bookkeeping Services 2,425.00
TTotal Professional Services 114,187.50
Rent - Office 23,300.00
Staff Expenses 0.00
Direct Deposit Costs 858.75
Insurance - Workers Comp 1,996.41
Mileage 7.59
Taxes 6,690.32
Wages - Staff #2 33,041.33
Wages - Staff ED 12,848.16
TTotal Staff Expenses 555,442.56
Taxes/License/Permits 224.02
Telephone, Internet 1,845.53
Utilities 680.05
Website, E-Newsletter 1,489.05
Website- Contractor 804.00
TTotal GENERAL & ADMIN 1109,702.83
PROGRAM EXPENSES 0.00
Advertising 200.00
Booth Fees 250.00
Attachment 4
Council Agenda 8-20-2024 Item 3.A

2/2
TOTAL
Car Rental,Cleaning,Fuel, Parki 1,705.50
City of SLO 3,366.50
Contract - CAL FIRE Full Circle 619.31
Contract Labor 74,002.87
Supplies 8,203.52
Travel 110.31
TTotal Contract - CAL FIRE Full Circle 882,936.01
Licenses, Permits, Fees 502.76
Meals & Entertainment 101.76
Meetings, Workshops & Seminars 300.00
Printing & Graphic Design 517.55
Processing Fee 377.98
Prof Dev/Meetings/Workshops 185.00
Staff Expenses 0.00
Mileage 616.73
Taxes 1,207.82
Wages - AmeriCorps Program 5,600.00
Wages - Staff #2 35,408.89
Wages - Staff ED 12,147.66
TTotal Staff Expenses 554,981.10
Supplies & Expenses 2,313.58
Website, Internet 470.47
TTotal PROGRAM EXPENSES 1148,208.21
TTotal Expenditures $$257,911.04
NET OPERATING REVENUE $$7,363.62
Other Expenditures
Penalty and Interest 45.70
TTotal Other Expenditures $$45.70
NET OTHER REVENUE $$ -45.70
NET REVENUE $$7,317.92
Attachment 4
Council Agenda 8-20-2024 Item 3.A

OrganizaƟon: Five CiƟes Meals on Wheels
Requested Funding: 10000
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: The grant from the City of Pismo Beach would be used for the purpose of purchasing food to make meals and to purchase the trays needed to package the meals. Since we are not funded by the Federal or State government, we rely heavily upon client donaƟons and the generosity of donors such as the City of Pismo Beach.

Support Fiscal 2024 & 2025 City Goals: Five CiƟes Meals on Wheels fully supports the City's goals by providing excepƟonal service through the delivery of meals to the homebound. Our meals and home checks enable our clients in need to aƩain an excepƟonal quality of life and conƟnue to live in a safe community.

Priority of Needs: We currently serve over 100 clients daily. The need to buy food and supplies conƟnues to grow.

Program DescripƟon: Five CiƟes Meals on Wheels provides a nourishing, delicious, hot meal, a beverage, and two snacks per day to homebound residents. We have learned that many of our clients were merely eaƟng a bowl of cereal or heaƟng a can of soup for dinner, before they found our organizaƟon. We've received numerous phone calls of graƟtude for the difference our meals have made by no longer leaving the homebound food challenged. We have helped clients get emergency medical assistance, when we someƟmes ﬁnd clients in distress due to falls or other medical issues. Our weekday safety check-in not only helps our clients, but also offers peace of mind to concerned family, friends, and neighbors. We are oŌen told that our drivers daily visits can be as valuable as the meals we deliver.

Point of Contact: Kathy Bear
Fiscal Year 2025 Outside Agency Request

Attachment 4
Council Agenda 8-20-2024 Item 3.A

OrganizaƟon: Smart Share Housing SoluƟons
Requested Funding: 3500
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: To date, HomeShare SLO program staff have provided housing mentoring to 14 individuals from Pismo Beach, have processed 12 applicaƟons from residents there, and currently manage direct housing services to ﬁve people (two home providers, three home seekers). In addiƟon, HSSLO has provided housing services to three clients from Pismo Beach who are no longer in program matches. The two current home providers in Pismo Beach are senior women in their mid to late 80s who are renƟng to women in their 60s and 70s. Program staff have also found housing for Pismo Beach residents outside of the City limits, including Maria, who was living in Pismo Beach when she applied to HomeShareSLO as a seeker. Five years ago, Maria was matched with Lynn, a homeowner in Arroyo Grande who uses a wheelchair, and they conƟnue to support one another. Maria enjoys affordable rent and a safe, comfortable place to live, while Lynn has rental income, companionship, and assistance with certain tasks like changing lightbulbs and taking out the trash, which can be parƟcularly difficult in a wheelchair.

While not limited to low income, 80% of HSSLO applicants meet the threshold for “Low Income” or lower. Financial beneﬁts to the ﬁve current Pismo Beach City matched clients total $77,400 in rental income to date for providers, or $29,400 for each year these matches persist moving forward. Savings on rent for seekers averages around $1000/month (or $36,000 every year) for a total of $79,800 in rent. That adds up to a total ﬁnancial beneﬁt to residents currently in the HSSLO program of $157,200. In addiƟon, several residents of Pismo Beach who found matches outside of the city, and are no longer in the HSSLO program, saved a total of $23,800 in rent for a grand total of $181,000 in direct monetary beneﬁts for Pismo Beach residents since 2019, which averages $36,200 every year. With an annual grant of $3500, the City receives a rough direct return on investment ten Ɵmes over, and even more as SSHS conƟnues to match new clients.

Support Fiscal 2024 & 2025 City Goals: Smart Share’s HomeShare SLO program will help the City with two Housing and Homelessness prioriƟes:
*Support and parƟcipate in regional efforts in a collaboraƟve manner. HomeShare SLO matches individuals in housing throughout the county, thus helping to collaborate over all agencies and balance supply and demand for rooms throughout the county. *Invest in housing and homelessness assistance projects where feasible. The grants and donaƟons Smart Share Housing receives for housing and homeless prevenƟon cover screening and match costs in order to serve lower income individuals. Smart Share’s HomeShare SLO Fiscal Year 2025 Outside Agency Request

Attachment 4
Council Agenda 8-20-2024 Item 3.A

program’s clientele is mostly lower-income (73%) senior women, a populaƟon increasingly at- risk for becoming homeless. While the HomeShareSLO program houses mulƟple homeless clients, it primarily serves as a homeless prevenƟon tool–prevenƟng senior women from becoming homeless by ﬁnding them a room to rent (or renters) before they end up on the streets or in a shelter. With an average Social Security payment of less than $1500 for senior women (several hundred dollars less than the average for men), many senior women renters are priced out of the market. Average rents are substanƟally more than a single Social Security check. The prospect of homelessness is devastaƟng at any age, yet can be more daunƟng for elder adults, parƟcularly the increasing number of “elder orphans'' with no family members to fall back on for housing and other support.

As CalMaƩers reports, “From 2017 to 2021, California’s overall senior populaƟon grew by 7% but the number of people 55 and over who sought homelessness services increased 84% — more than any other age group… For comparison, the number of people accessing homelessness services across all ages increased 43% during this Ɵme period,” hƩps://calmaƩers.org/health/2023/02/california-homeless- seniors/?mc_cid=b6b515a08c&mc_eid=ff7f38f70b.

Priority of Needs: HomeShare SLO is one of three programs that Smart Share Housing SoluƟons operates to connect more people with housing. It is also the one currently most in need of funding. The applicants all pay a fee to help provide this service, but because the program aims to serve low-income residents, the fees don’t cover all the staff hours involved in seƫng up matches (conducƟng background checks and reference calls, arranging introducƟons, compleƟng Living Together Agreements and mediaƟon). Funding from the city will help keep fees low and provide housing for the county’s most vulnerable residents, without having to build any new housing.

Program DescripƟon: Smart Share Housing SoluƟons’ HomeShare SLO program is modeled aŌer 60+ successful non-proﬁt home sharing programs naƟonwide which have provided housing and community-building opportuniƟes via a secure matching system that connects compaƟble home providers with persons seeking safe, affordable housing and companionship.

HomeShare SLO employs a proven, low-cost method to create affordable housing of exisƟng stock, through building community connecƟon rather than using bricks and mortar. In addiƟon to opening up affordable housing, this brings companionship and security for older adult residents to age in place in their homes and communiƟes.

Seventy-one percent of HSSLO clients are ages 60 and up and 73% are female. Serving these clients requires extra security protocols and individual touches so that the vulnerable are protected and feel safe in their homes. Staff perform background checks and credit checks on all applicants as well as provide an extensive lifestyle analysis to assist with successful matching. All matches are also provided with counseling on strategies for success and creaƟng an exit plan for when the match ends, as well as match support mediaƟon when needed. Staff intake Ɵme and screening cost for each new client intake is about $200 in fees and hourly wages for staff, before introducƟons can be made and clients matched. While intake cost is not excepƟonally high, it typically takes 7-10 new clients to achieve one match. Between direct costs of fees and staff Ɵme, as well as outreach and admin expenses to recruit new clients and to manage current Attachment 4
Council Agenda 8-20-2024 Item 3.A

ones, a match may cost the program $2500 for each party (room provider and room seeker).

Grant funding would help offset these costs and allow us to keep fees low for our clients.

Point of Contact: Vicki van den Eikhof
Attachment 4
Council Agenda 8-20-2024 Item 3.A

May 31, 24 Apr 30, 24 $ Change May 31, 23 $ Change
ASSETS
Current Assets
Checking/Savings
CoastHills - Checking - 80 46,444.01 51,756.64 -5,312.63 21,097.03 25,346.98 CoastHills - Bus Basic - 00
SLO County ARPA Grant 109.17 109.17 0.00 50,008.39 -49,899.22 Waterman Contributions 929.23 929.23 0.00 277,948.66 -277,019.43 CoastHills - Bus Basic - 00 - Other 0.04 0.00 0.04 40,690.10 -40,690.06 Total CoastHills - Bus Basic - 00 1,038.44 1,038.40 0.04 368,647.15 -367,608.71 Total Checking/Savings 47,482.45 52,795.04 -5,312.59 389,744.18 -342,261.73 Other Current Assets
Cert of Dep - Due 8/25/24 150,575.07 150,093.21 481.86 0.00 150,575.07 Cert of Dep-Due 11/25/24 170,819.10 170,132.74 686.36 0.00 170,819.10 Prepaid D&O Insurance 1,488.34 1,488.34 0.00 1,488.34 0.00 Prepaid Liability Insurance 2,184.11 2,380.86 -196.75 1,832.62 351.49 WC Insurance Deposit 355.00 355.00 0.00 355.00 0.00
Total Other Current Assets 325,421.62 324,450.15 971.47 3,675.96 321,745.66 Total Current Assets 372,904.07 377,245.19 -4,341.12 393,420.14 -20,516.07 TOTAL ASSETS 372,904.07 377,245.19 -4,341.12 393,420.14 -20,516.07

LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
20000 · Accounts Payable 369.15 2,971.17 -2,602.02 2,944.98 -2,575.83 Total Accounts Payable 369.15 2,971.17 -2,602.02 2,944.98 -2,575.83 Other Current Liabilities
Deferred Must Grant 10,000.00 10,000.00 0.00 10,000.00 0.00 Unearned SLO County ARPA 50,000.00 50,000.00 0.00 50,000.00 0.00 Restricted Waterman Reserves 217,318.37 218,625.46 -1,307.09 276,401.02 -59,082.65 Deferred Grant Income
City of Grover Beach 417.07 833.70 -416.63 0.00 417.07
County of SLO - 22-23 0.00 0.00 0.00 833.26 -833.26
City of San Luis Obispo 22-23 2,399.97 3,066.64 -666.67 666.63 1,733.34 City of Pismo Beach 291.67 583.34 -291.67 0.00 291.67
Total Deferred Grant Income 3,108.71 4,483.68 -1,374.97 1,499.89 1,608.82 Clearing 0.00 -300.00 300.00 0.00 0.00
24000 · Payroll Liabilities
Fed - WH Tax Payable 498.00 380.00 118.00 722.00 -224.00 Fed - Social Security Payable 1,060.88 900.64 160.24 1,035.08 25.80 Fed - Medicare Tax Payable 248.08 210.64 37.44 242.08 6.00 CA - State WH Payable 154.96 103.98 50.98 198.04 -43.08 CA - SDI Payable 94.11 79.89 14.22 75.13 18.98
CA - Unemployment Payable 87.72 73.86 13.86 21.90 65.82 CA - ETT Payable 4.38 3.69 0.69 0.91 3.47
Total 24000 · Payroll Liabilities 2,148.13 1,752.70 395.43 2,295.14 -147.01 Total Other Current Liabilities 282,575.21 284,561.84 -1,986.63 340,196.05 -57,620.84 Total Current Liabilities 282,944.36 287,533.01 -4,588.65 343,141.03 -60,196.67 Total Liabilities 282,944.36 287,533.01 -4,588.65 343,141.03 -60,196.67 Equity
32000 · Unrestricted Net Assets 102,343.02 102,343.02 0.00 82,808.41 19,534.61 Net Income -12,383.31 -12,630.84 247.53 -32,529.30 20,145.99 Total Equity 89,959.71 89,712.18 247.53 50,279.11 39,680.60 TOTAL LIABILITIES & EQUITY 372,904.07 377,245.19 -4,341.12 393,420.14 -20,516.07 12:15 PM Smart Share Housing Solutions
06/12/24 Balance Sheet
Accrual Basis As of May 31, 2024

Page 1 ends

Attachment 4
Council Agenda 8-20-2024 Item 3.A

Dec 23 Budget $ Over ...Jan - Dec...YTD Bud...$ Over B...Annual B...

Ordinary Income/Expense
Income
Waterman Village Income 8,225.00 0.00 8,225.00 66,853.35 0.00 66,853.35 0.00 ADU/THOW Workshops 0.00 0.00 0.00 21,700.00 10,000.00 11,700.00 10,000.00 HomeShare SLO Revenue 50.00 416.66 -366.66 4,577.53 5,000.00 -422.47 5,000.00 Contributions 12,879.42 1,250.00 11,629.42 26,576.90 20,000.00 6,576.90 20,000.00 Cal Home Grant Income 62,500.00 0.00 62,500.00 62,500.00 62,000.00 500.00 62,000.00 Government Grants 2,208.31 3,083.33 -875.02 19,083.07 37,000.00 -17,916.93 37,000.00 Total Income 85,862.73 4,749.99 81,112.74 201,290.85 134,000.00 67,290.85 134,000.00 Cost of Goods Sold
Waterman Village Expenses 2,725.00 0.00 2,725.00 69,578.35 0.00 69,578.35 0.00 Tiny House/ADU Project 0.00 0.00 0.00 371.88 0.00 371.88 0.00 HomeShare SLO Expenses 345.90 833.35 -487.45 3,247.75 10,000.00 -6,752.25 10,000.00 Total COGS 3,070.90 833.35 2,237.55 73,197.98 10,000.00 63,197.98 10,000.00 Gross Profit 82,791.83 3,916.64 78,875.19 128,092.87 124,000.00 4,092.87 124,000.00 Expense
Marketing and Promotion 0.00 583.33 -583.33 3,510.49 12,500.00 -8,989.51 12,500.00 Administrative Overhead 2,084.85 1,343.76 741.09 8,036.72 15,215.00 -7,178.28 15,215.00 Payroll Expenses 13,711.95 10,216.66 3,495.29 106,008.91 123,410.00 -17,401.09 123,410.00 Total Expense 15,796.80 12,143.75 3,653.05 117,556.12 151,125.00 -33,568.88 151,125.00 Net Ordinary Income 66,995.03 -8,227.11 75,222.14 10,536.75 -27,125.00 37,661.75 -27,125.00 Other Income/Expense
Other Income
Dividend Income 0.00 0.00 0.00 36.35 0.00 36.35 0.00
Interest Income 868.81 0.00 868.81 5,896.80 0.00 5,896.80 0.00 Total Other Income 868.81 0.00 868.81 5,933.15 0.00 5,933.15 0.00 Other Expense
Contingency 0.00 833.37 -833.37 0.00 10,000.00 -10,000.00 10,000.00 Total Other Expense 0.00 833.37 -833.37 0.00 10,000.00 -10,000.00 10,000.00 Net Other Income 868.81 -833.37 1,702.18 5,933.15 -10,000.00 15,933.15 -10,000.00 Net Income 67,863.84 -9,060.48 76,924.32 16,469.90 -37,125.00 53,594.90 -37,125.00 1:01 PM Smart Share Housing Solutions
01/11/24 Profit & Loss Budget Performance
Accrual Basis December 2023

Page 1 ends

Attachment 4
Council Agenda 8-20-2024 Item 3.A

OrganizaƟon: SLO Noor FoundaƟon
Requested Funding: 20000
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: Since the Spring of 2023, the SLONF has operated two physical clinics in San Luis Obispo as well as a telehealth and virtual support program launched in 2020 and a mobile health unit serving women in the Santa Maria Valley through a partnership with Cal Poly Health Research Center. During this period, funds from the City of Pismo Beach have helped the SLONF successfully increase the capacity of its exisƟng services, delivering care to 1,657 paƟents over 4,641 encounters with 46% of paƟents being new in 2023.

Of these visits, the SLONF was able to serve residents of Pismo Beach over 96 medical, vision, and dental visits and 181 laboratory and radiology diagnosƟcs at an esƟmated value of $19,350.

Furthermore, the SLONF served residents of the surrounding Five CiƟes area over 692 medical, vision, and dental paƟent visits and 1,261 laboratory and radiology diagnosƟcs, free of charge.

In the upcoming year, the SLONF will conƟnue to serve Pismo residents and workforce with free healthcare by increasing the capacity of its clinics by a projected 15% and thereby bolstering the economy and wellbeing of the City.

Requested funding in the amount of $20,000 will afford the following project expenses:
(1) 40% or $8,000 in clinical support staffing necessary to support over 108 volunteers, schedule paƟents, handle intake, order diagnosƟcs, process referrals, and oversee daily logisƟcs. As a primarily volunteer-based organizaƟon, the SLONF relies on the support of volunteer providers and professionals who donated their Ɵme and experƟse over 9,302 hours at an esƟmated value of over $353,000. As a result, the SLONF requires clinical support staff in order to adequately support its volunteer providers and establish a conƟnuity in care for its paƟents, providing program oversight and offering translaƟon services.
(2) 35% or $7,000 in laboratory diagnosƟcs and radiology imaging needed to screen, diagnose, and monitor new and established paƟents in order to accurately assess condiƟons and prescribe appropriate treatment. Through partnerships with local diagnosƟcs faciliƟes, the SLONF receives a 30-80% discount on these outsourced services, which the SLONF pays for on behalf of paƟents to assure quality care and to reduce paƟent noncompliance caused by an inability to afford out- of-pocket diagnosƟcs costs.
(3) 15% or $3,000 in clinical supplies needed to deliver appropriate healthcare and support services. These supplies include primary and specialty care supplies needed to remain compliant within internal and state-regulated standards as well as personal protecƟve equipment.

Fiscal Year 2025 Outside Agency Request
Attachment 4
Council Agenda 8-20-2024 Item 3.A

(4) 10% or $2,000 in overhead to afford the administraƟve, ﬁnancial, and leadership support as well as indirect expenses, such as facility rental and uƟliƟes necessary to operate SLO Noor Health Clinics at a full-Ɵme availability.

By affording these expenses, the SLONF will conduct the following acƟviƟes: (1) operate its virtual and in-clinic healthcare and support services at least 4 days/week across two physical sites and two mobile units; (2) serve 2,000 unique paƟents across 5,200 encounters and 10,400 diagnosƟcs, and; (3) serve 280 unique Five CiƟes-based paƟents across 750 encounters and 1,500 diagnosƟcs. Through these acƟviƟes, the SLONF intends to achieve the following outcomes: (1) increase clinical capacity by at least 15% with at least 30% of paƟents being new during the grant cycle; (2) increase posiƟve paƟent health outcomes as demonstrated by a decrease in health risk factors (e.g., decrease in HbA1c values in paƟents with or at risk of type- 2 diabetes), and; (3) provide all healthcare and support services 100% free of charge to paƟents.

Support Fiscal 2024 & 2025 City Goals: The Vision for the City of Pismo Beach includes "Enhance a vibrant tourist-based economy, while becoming a world-renowned tourist desƟnaƟon." According to the 2023 San Luis Obispo County State of the Workforce Report, between 2018 and 2022, employment has grown in the low wage Tourism, Hospitality, and RecreaƟon industry (+3.9 percent) – which dominates local employment, accounƟng for nearly one in ﬁve county jobs – and the Agriculture and Food industry (+20.4 percent), where countywide employment is 182 percent more concentrated than the state average. Many of the workers who support the tourism industry are those who can least afford healthcare, such as housekeepers, maintenance workers, gardeners, and restaurant workers. These workers provide vital services to the various businesses that make Pismo Beach a desirable tourist desƟnaƟon.

Providing health services to the residents and workers in Pismo Beach also accomplishes the City's goal to “support regional efforts to address housing needs and homelessness.” Based on our 2023 paƟent summary, 151 unique medical and vision paƟents have been homeless or were at risk of homelessness. These paƟents were seen over 439 medical and vision paƟent encounters--this means over 10% of the paƟent base are or at risk of homelessness. According to the Kaiser Family FoundaƟon, about 41% of Americans have unpaid medical debt that can lead to reduced spending, and a 2020 study by the University of Washington has shown that medical debt may increase the risk or prolong homelessness. Funding from the City of Pismo Beach assists in proacƟvely addressing some causes of homelessness, prevenƟng condiƟons from becoming health emergencies requiring costly emergency care. Physical and mental health are key to a robust community and workforce and the SLONF’s free healthcare and support services may make the difference between a community member being healthy enough to work, pay rent, and maintain their family versus being out of work and lacking resources that may lead to homelessness.

Priority of Needs: The SLONF was successful in developing and funding the expansion of its mobile clinic program, acquiring a solely-owned and operated mobile health unit which now operates one day/week. The mobile clinic serves under-resourced geographical areas in SLO Attachment 4
Council Agenda 8-20-2024 Item 3.A

County, including Grover Beach, Nipomo, and Oceano. At SLO Noor FoundaƟon Mobile Clinic (SNFMC) sites, paƟents receive new paƟent exams and primary care, including screenings for high-risk chronic condiƟons, laboratory diagnosƟcs, internal referrals for follow-up and specialty care, and external referrals for social services. Due to the limitaƟons of mobile care, however, the SNFMC can only deliver basic primary care and will refer mobile clinic paƟents for followup care and specialty services at physical SLO Noor Health Clinic sites. As a result, the SLONF anƟcipates that the increase in demand for services will impact both physical and mobile sites, requiring a subsequent capacity increase to adequately support both new and exisƟng paƟents.

Funding from the City of Pismo Beach in FY 2024-25 will assist the SLONF in conƟnuing to expand the availability and reach of its health and support services by extending prevenƟve and episodic care to underserved communiƟes before health concerns become costly emergencies requiring criƟcal care. With $20,000 in requested funding, the SLONF can help to address inequity in healthcare access and quality by improving the healthcare-related quality of life of community members facing obstacles barring them from accessing SLO Noor Health Clinics, including transportaƟon, technology, workplace, or childcare barriers. In addiƟon, by improving awareness of and access to healthcare and support services via mobile health and outreach, the SLO Noor FoundaƟon will help community members manage their health independently, supporƟng long-term wellbeing and livelihood on a community level.

Program DescripƟon: We at the SLO Noor FoundaƟon (SLONF) would like to thank the City of Pismo Beach for its ongoing support enabling SLO Noor Health Clinics to substanƟally grow in capacity, reach, and scope. Since 2010, the SLONF has evolved from a single part-Ɵme medical clinic to a comprehensive healthcare facility and community network with a mission to provide free medical, dental, and vision care services to uninsured and underinsured adults in San Luis Obispo and northern Santa Barbara CounƟes, regardless of race, ethnicity, religion, gender, sexual orientaƟon, or immigraƟon status. The SLONF is commiƩed to advancing diversity and inclusion by helping ensure that all people across the community, including those who work, reside, and congregate in the City of Pismo Beach, feel valued and have equal access to resources, services, and opportuniƟes provided by SLO Noor Health Clinics.

The requested $20,000 will be used to offset direct clinic expenses, including clinical support staff, essenƟal medical and dental supplies, and laboratory and radiology diagnosƟcs necessary to serve a projected 2,000 paƟents over 5,300 in-clinic and telehealth encounters in the ﬁscal year (FY) 24-25.

Point of Contact: Tanya Walker

Attachment 4
Council Agenda 8-20-2024 Item 3.A

7RWDO
,QFRPH
'RQDWLRQV
0LUDFOH

7RWDO'RQDWLRQV
5HQWDOLQFRPH
8QFDWHJRUL]HG,QFRPH
*UDQW0RQH\

5HVWULFWHGWR3DWLHQW&DUH([SHQVHV 5HVWULFWHGWR3D\UROO
5HVWULFWHGWR2SHUDWLQJ([SHQVHV
7RWDO*UDQW0RQH\ 7RWDO,QFRPH
*URVV3URILW
([SHQVHV
2SHUDWLQJ([SHQVHV
$GYHUWLVLQJDQG3URPRWLRQ
$ODUP6HUYLFH
%DQN6HUYLFH&KDUJHV
0HUFKDQW3URFHVVLQJ&KDUJHV
%XVLQHVV/LFHQVHVDQG3HUPLWV
'XHVDQG6XEVFULSWLRQV
,QVXUDQFH([SHQVH
2IILFH6XSSOLHV

5HQW([SHQVH
/HJDO3URI HVVLRQDODQG$FFRXQWLQJ 8W LOLWLHV7HOHSKRQH,QWHUQHW 3RVWDJH 'HOLYHU\

9ROXQWHHUDQG6WDII6XSSRUW

6RIWZDUH([SHQVH

5HSDLUVDQG0DLQWHQDQFH
(YHQW([SHQVH
6WDII0LOHDJH

7UDYH/RGJLQJ3HU'LHP$FFRPPRGDWLRQ
7RWDO2SHUDWLQJ([SHQVHV

3DWLHQW&DUH([SHQVHV
&OLQLFVXSSOLHV

+D]DU GRXV:DVWH
3KDUPDF\
,PDJLQJ([SHQVHV
/DE([SHQVHV
7RWDO3DWLHQW&DUH([SHQVHV
3D\UR OO([SHQVHV
3D\UR OO([SHQVHV7D[HV
6/21RRU)RXQGDWLRQ
3URILWDQG/RVV
-DQXDU\'HFHPEHU
Attachment 4
Council Agenda 8-20-2024 Item 3.A

3D\UR OO([SHQVHV(PSOR\HHV

7RWDO3D\UR OO([SHQVHV
7RWDO([SHQVHV

1HW2SHUDWLQJ,QFRPH 2WKHU,QFRPH

2WKHU,QFRPH

,QWHUHVW,QFRPH

7RWDO2WKHU,QFRPH 1HW2WKHU,QFRPH 1HW,QFRPH
7KXUVGD\-DQ

30*07$FFUXDO%DVLV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

Accrual Basis Friday, March 1, 2024 07:16 AM GMT-08:00 1/3 SLO Noor Foundation
Balance Sheet
As of December 31, 2023
TOTAL
ASSETS
Current Assets
Bank Accounts
1005-00 Petty Cash Fund 0.00
1013-00 Pacific Premier Bank Account 277,767.17
TTotal Bank Accounts $$277,767.17
Accounts Receivable
1100-00 Accounts Receivable (A/R)0.00
1200-00 Grants Receivable 20,736.39
1201-00 United Way Grant 0.00
TTotal 1200-00 Grants Receivable 220,736.39
TTotal Accounts Receivable $$20,736.39
Other Current Assets
1015-00 Edward Jones Reserve Account 123,766.09
1400-02 Inventory Asset 0.00
1402-02 Inventory - Lenses 0.00
1403-02 Inventory- Frames 0.00
TTotal 1400-02 Inventory Asset 00.00
1500-00 Prepaid Expenses 0.00
1501-00 Prepaid- Insurance 0.00
1505-00 Prepaid- Rent 0.00
1506-00 Uncategorized Asset 0.00
1510-00 Undeposited Funds 0.00
Certificate of Deposit 0.00
Clearing Account 0.00
Donations Receivable 0.00
Payroll Refunds 0.00
Repayment
Payroll Over PMT 0.00
TTotal Repayment 00.00
TTotal Other Current Assets $$123,766.09
TTotal Current Assets $$422,269.65
Fixed Assets
1600-00 Office Equipment 41,614.31
1602-00 Computer Equip.10,282.58
1700-00 Furniture and Equipment 8,077.14
1700-01 Medical Equipment 137,478.94
1700-02 Frames 0.00
1799 Accumulated Depreciation -310,246.00
1799-02 Eye Equipment 142,815.13
1799-03 Dental Equipment 97,044.98
Attachment 4
Council Agenda 8-20-2024 Item 3.A

Accrual Basis Friday, March 1, 2024 07:16 AM GMT-08:00 2/3 TOTAL
1800-00 Building Improvement 19,450.00
1800-03 Tenant Improvement- Dental Clinic 86,598.80
Mobile Health Clinic (MHC)197,700.00
TTotal Fixed Assets $$430,815.88
Other Assets
1900-00 Security Deposits Asset 9,000.00
1900-01 Money Market Account 416,847.43
TTotal Other Assets $$425,847.43
TTOTAL ASSETS $$1,278,932.96

LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts Payable
2000-00 Accounts Payable 13,354.75
TTotal Accounts Payable $$13,354.75
Credit Cards
2001-00 Capitol One Visa 2,809.92
TTotal Credit Cards $$2,809.92
Other Current Liabilities
2002-00 Payroll Liabilities 0.00
CA PIT / SDI 914.15
CA SUI / ETT 568.95
CALSAVERS 671.14
Federal Taxes (941/944)7,706.21
Support Witholding 0.00
TTotal 2002-00 Payroll Liabilities 99,860.45
2005-00 Accrued Payroll Tax Pay.0.00
2010-00 Payroll Accural 0.00
2011-00 Payroll Accrual-Employees 0.00
2012-00 Payroll Accrual-Fee 0.00
2013-00 Payroll Accrual-Taxes 0.00
TTotal 2010-00 Payroll Accural 00.00
2015-00 Unearned- Grant Revenue 0.00
2015-01 City of San Luis Obispo 0.00
2015-02 Dignity Health Grant 0.00
2015-03 United Way Grant 0.00
2015-04 City of Pismo Beach Grant 0.00
2015-06 SLO County CBO/ PHG 67,162.50
2015-07 City of Arroyo Grande Grant 0.00
2015-08 City of Grover Beach Grant 0.00
2015-09 The Community Foundation - SLO County 0.00
2015-10 The California Wellness Foundation Grant 41,666.58 2015-11 Santa Barbara Foundation 0.00
2015-12 2035 National Association of Free Clinics 0.00
2015-13 Delta Dental Community Care Foundation 0.00
2015-14 2015-14 Womens Legacy Fund 0.00
2015-15 CAFCC 80,000.04
Attachment 4
Council Agenda 8-20-2024 Item 3.A

Accrual Basis Friday, March 1, 2024 07:16 AM GMT-08:00 3/3 TOTAL
TTotal 2015-00 Unearned- Grant Revenue 1188,829.12
2025-00 Alliance For Pharmaceutical Access, Inc.0.00
2029-00 Eye Surgery - Restricted 15,750.00
Deferred In Kind Income 0.00
Direct Deposit Payable 0.00
Grants Payable 0.00
Center For Family Strengthening 0.00
Peoples Self Help Housing 6,600.00
SLO Department of Public Health 0.00
TTotal Grants Payable 66,600.00
PPB LOC 0.00
TTotal Other Current Liabilities $$221,039.57
TTotal Current Liabilities $$237,204.24
Long-Term Liabilities
Advance on Mobile Clinic -0.12
SBA Loan 0.00
TTotal Long-Term Liabilities $$ -0.12
TTotal Liabilities $$237,204.12
Equity
3200-00 Unrestricted Net Assets 515,999.82
3201-00 Board Reserved - Unrestricted Net Assets 61,280.24 Net Income 464,448.78
TTotal Equity $$1,041,728.84
TTOTAL LIABILITIES AND EQUITY $$1,278,932.96
Attachment 4
Council Agenda 8-20-2024 Item 3.A

OrganizaƟon: People's Self-Help Housing
Requested Funding: 5000
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: In the last year, these funds have helped provide clinical social services and case management to residents of the 76 current households of its Pismo Beach affordable housing properƟes. Services were provided free of charge to the residents we serve. Our service demographic is primarily low-income families, seniors, persons with disabiliƟes, veterans, farmworkers, and those transiƟoning out of homelessness.

Support Fiscal 2024 & 2025 City Goals: Funds will support SHP's clinical social services and the development of wrap-around services provided to residents of our Pismo Beach properƟes. This program addresses the City’s major city goals for Housing and Homelessness: Invest in housing and homelessness assistance projects where feasible. By housing exisƟng homeless households, and by ensuring that low-income households that are in danger of homelessness or homelessness recidivism, this investment in Pismo Beach neighborhoods will contribute to the preservaƟon of the outcomes of the City’s beauƟﬁcaƟon strategies as well, and with over 1,100 hours of clinical social services, the City will receive excepƟonal services to those at risk of homelessness from a nominal investment.

Priority of Needs: People's Self-Help Housing's funding need would be used to conƟnue building affordable homes with site-based services on the Central Coast of California.

Program DescripƟon: People’s Self-Help Housing provides supporƟve services through our SupporƟve Housing Program (SHP) at our three properƟes (Pismo Creek Bungalows, Sea Haven Apartments, and Pismo Terrace) and 126 housing units in the City of Pismo Beach. Services include enhanced access to prevenƟve health screenings, nutriƟon security, criƟcal medical transportaƟon, behavioral health counseling, ﬁnancial literacy coaching, and administraƟve support which helps with securing disability accommodaƟons, medical equipment, or SSI beneﬁts.

Point of Contact: Forrest Eastham
Fiscal Year 2025 Outside Agency Request

Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21

$8',7('&2162/,'$7('),1$1&,$/67$7(0(176
$1'2)),&(2)0$1$*(0(17$1'%8'*(7
81,)250*8,'$1&(5(32576

)257+(<($56(1'('-81($1'5(67$7('
Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
$8',7('&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81(
$1'5(67$7('

7$%/(2)&217(176

$XGLWHG&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV 3DJH

,QGHSHQGHQW$XGLWRU¶V5HSRUW &RQVROLGDWHG6WDWHPHQWVRI)LQDQFLDO3RVLWLRQ &RQVROLGDWHG6WDWHPHQWVRI$FWLYLWLHV &RQVROLGDWHG6WDWHPHQWVRI&DVK)ORZV &RQVROLGDWHG6WDWHPHQWRI)XQFWLRQDO([SHQVHV 1RWHVWRWKH&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV
6XSSOHPHQWDU\,QIRUPDWLRQ

6WDWHPHQWRI)LQDQFLDO3RVLWLRQIRU0XOWLIDPLO\3URSHUWLHV 6WDWHPHQWRI$FWLYLWLHVIRU0XOWLIDPLO\3URSHUWLHV 6XSSOHPHQWDU\&RQWUDFW,QIRUPDWLRQIRU6WDWHRI&DOLIRUQLD'HSDUWPHQW RI+RXVLQJDQG&RPPXQLW\'HYHORSPHQWIRU6HD+DYHQ$SDUWPHQWV 6XSSOHPHQWDU\&RQWUDFW,QIRUPDWLRQIRU6WDWHRI&DOLIRUQLD'HSDUWPHQW RI+RXVLQJDQG&RPPXQLW\'HYHORSPHQWIRU&DZHOWL$SDUWPHQWV 6XSSOHPHQWDU\&RQWUDFW,QIRUPDWLRQIRU86'$±5XUDO'HYHORSPHQW IRU3DFLILF9LHZ
6XSSOHPHQWDU\&RQWUDFW,QIRUPDWLRQIRU86'$±5XUDO'HYHORSPHQW IRU/RV$GREHV'H0DULD 6XSSOHPHQWDU\&RQWUDFW,QIRUPDWLRQIRU1HLJKERUZRUNV$PHULFD 6FKHGXOHRI([SHQGLWXUHVRI)HGHUDO$ZDUGV ,QGHSHQGHQW$XGLWRU¶V5HSRUWRQ,QWHUQDO&RQWURORYHU )LQDQFLDO5HSRUWLQJDQGRQ&RPSOLDQFHDQG2WKHU0DWWHUV %DVHGRQDQ$XGLWRI)LQDQFLDO6WDWHPHQWV3HUIRUPHGLQ $FFRUGDQFHZLWKGovernment Auditing Standards
,QGHSHQGHQW$XGLWRU¶V5HSRUWRQ&RPSOLDQFHZLWK
5HTXLUHPHQWV7KDW&RXOG+DYHD'LUHFWDQG0DWHULDO (IIHFWRQ(DFK0DMRU)HGHUDO3URJUDPDQGRQ,QWHUQDO&RQWURO 2YHU&RPSOLDQFHLQ$FFRUGDQFHZLWKWKH8QLIRUP*XLGDQFH 6FKHGXOHRI)LQGLQJVDQG4XHVWLRQHG&RVWV 6XPPDU\6FKHGXOHRI3ULRU$XGLW)LQGLQJV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

*UDQW%HQQHWW$VVRFLDWHV
$352)(66,21$/&25325$7,21

ZZZJEDFSDFRP
*ROG&HQWHU'ULYH6XLWH
6DFUDPHQWR&$
3ULQFHYLOOH+,

)$;

7RJHWKHUDV2QH*UDQW%HQQHWW$VVRFLDWHVLVD0HPEHURIWKH$OOLRWW*OREDO$OOLDQFHRILQGHSHQGHQWSURIHVVLRQDOILUPV

,1'(3(1'(17$8',725¶65(3257

%RDUGRI'LUHFWRUV
3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ
6DQ/XLV2ELVSR&DOLIRUQLD

2SLQLRQ
:H KDYH DXGLWHG WKH DFFRPSDQ\LQJ FRQVROLGDWHG ILQDQFLDO VWDWHPHQWV RI 3HRSOH¶V 6HOI+HOS +RXVLQJ &RUSRUDWLRQ
36++&
DQGVXEVLGLDULHVZKLFKFRPSULVHWKHFRQVROLGDWHGVWDWHPHQWRIILQDQFLDOSRVLWLRQDVRI -XQHDQGDQGWKHUHODWHGFRQVROLGDWHGVWDWHPHQWVRIDFWLYLWLHVIXQFWLRQDOH[SHQVHVDQGFDVK IORZVIRUWKH\HDUWKHQHQGHGDQGWKHUHODWHGQRWHVWRWKHILQDQFLDOVWDWHPHQWV
OQRXURSLQLRQWKHILQDQFLDOVWDWHPHQWVUHIHUUHGWRDERYHSUHVHQWIDLUO\LQDOOPDWHULDOUHVSHFWVWKHILQDQFLDO SRVLWLRQRIWKH3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ 36++&
DQGVXEVLGLDULHVDVRI-XQHDQGWKH
FKDQJHVLQLWVQHWDVVHWVDQGLWVFDVKIORZVIRUWKH\HDUVWKHQHQGHGLQDFFRUGDQFHZLWKDFFRXQWLQJSULQFLSOHV JHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFD

%DVLVIRU2SLQLRQ
:HFRQGXFWHGRXUDXGLWVLQDFFRUGDQFHZLWKDXGLWLQJVWDQGDUGVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHVRI $PHULFDDQGWKHVWDQGDUGVDSSOLFDEOHWRILQDQFLDODXGLWVFRQWDLQHGLQ*RYHUQPHQW$XGLWLQJ6WDQGDUGVLVVXHG E\ WKH &RPSWUROOHU *HQHUDO RI WKH 8QLWHG 6WDWHV 2XU UHVSRQVLELOLWLHV XQGHU WKRVH VWDQGDUGV DUH IXUWKHU GHVFULEHGLQWKH$XGLWRU
V5HVSRQVLELOLWLHVIRUWKH$XGLWRIWKH)LQDQFLDO6WDWHPHQWVVHFWLRQRIRXUUHSRUW:H DUHUHTXLUHGWREHLQGHSHQGHQWRIWKH3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ 36++&
DQGVXEVLGLDULHVDQG
WRPHHWRXURWKHUHWKLFDOUHVSRQVLELOLWLHVLQDFFRUGDQFHZLWKWKHUHOHYDQWHWKLFDOUHTXLUHPHQWVUHODWLQJWRRXU DXGLWV:HEHOLHYHWKDWWKHDXGLWHYLGHQFHZHKDYHREWDLQHGLVVXIILFLHQWDQGDSSURSULDWHWRSURYLGHDEDVLVIRU RXUDXGLWRSLQLRQV

7KH-XQHFRQVROLGDWHGILQDQFLDOVWDWHPHQWVZHUHUHVWDWHGWRFRQVROLGDWHZKROO\RZQHGVXEVLGLDU\ &ROOHJH3DUN+RXVLQJ$VVRFLDWHVDVRI-XQH$VDUHVXOWRIWKHUHVWDWHPHQWWRWDOQHWDVVHWVDW-XO\ ZHUHLQFUHDVHGE\

5HVSRQVLELOLWLHVRI0DQDJHPHQWIRUWKH)LQDQFLDO6WDWHPHQWV 0DQDJHPHQWLVUHVSRQVLEOHIRUWKHSUHSDUDWLRQDQGIDLUSUHVHQWDWLRQRIWKHVHILQDQFLDOVWDWHPHQWVLQDFFRUGDQFH ZLWK DFFRXQWLQJ SULQFLSOHV JHQHUDOO\ DFFHSWHG LQ WKH 8QLWHG 6WDWHV RI $PHULFD WKLV LQFOXGHV WKH GHVLJQ
LPSOHPHQWDWLRQDQGPDLQWHQDQFHRILQWHUQDOFRQWUROUHOHYDQWWRWKHSUHSDUDWLRQDQGIDLUSUHVHQWDWLRQRIILQDQFLDO VWDWHPHQWVWKDWDUHIUHHIURPPDWHULDOPLVVWDWHPHQWZKHWKHUGXHWRIUDXGRUHUURU
,QSUHSDULQJWKHILQDQFLDOVWDWHPHQWVPDQDJHPHQWLVUHTXLUHGWRHYDOXDWHZKHWKHUWKHUHDUHFRQGLWLRQVRU HYHQWV FRQVLGHUHG LQ WKH DJJUHJDWH WKDW UDLVH VXEVWDQWLDO GRXEW DERXW WKH 3HRSOH¶V 6HOI+HOS +RXVLQJ &RUSRUDWLRQ
36++&
DQGVXEVLGLDULHVDELOLW\WRFRQWLQXHDVDJRLQJFRQFHUQZLWKLQRQH\HDUDIWHUWKHGDWHWKDW WKHILQDQFLDOVWDWHPHQWVDUHDYDLODEOHWREHLVVXHG
$XGLWRU
V5HVSRQVLELOLWLHVIRUWKH$XGLWRIWKH)LQDQFLDO6WDWHPHQWV 2XUREMHFWLYHVDUHWRREWDLQUHDVRQDEOHDVVXUDQFHDERXWZKHWKHUWKHILQDQFLDOVWDWHPHQWVDVDZKROHDUHIUHH IURPPDWHULDOPLVVWDWHPHQWZKHWKHUGXHWRIUDXGRUHUURUDQGWRLVVXHDQDXGLWRU¶VUHSRUWWKDWLQFOXGHVRXU RSLQLRQ5HDVRQDEOHDVVXUDQFHLVDKLJKOHYHORIDVVXUDQFHEXWLVQRWDEVROXWHDVVXUDQFHDQGWKHUHIRUHLVQRW DJXDUDQWHHWKDWDQDXGLWFRQGXFWHGLQDFFRUGDQFHZLWKJHQHUDOO\DFFHSWHGDXGLWLQJVWDQGDUGVDQG*RYHUQPHQW $XGLWLQJ6WDQGDUGVZLOODOZD\VGHWHFWDPDWHULDOPLVVWDWHPHQWZKHQLWH[LVWV7KHULVNRIQRWGHWHFWLQJDPDWHULDO PLVVWDWHPHQWUHVXOWLQJIURPIUDXGLVKLJKHUWKDQIRURQHUHVXOWLQJIURPHUURUDVIUDXGPD\LQYROYHFROOXVLRQ IRUJHU\ LQWHQWLRQDO RPLVVLRQV PLVUHSUHVHQWDWLRQV RU WKH RYHUULGH RI LQWHUQDO FRQWURO 0LVVWDWHPHQWV DUH 1 Attachment 4
Council Agenda 8-20-2024 Item 3.A

*UDQW%HQQHWW$VVRFLDWHV
$352)(66,21$/&25325$7,21

ZZZJEDFSDFRP
*ROG&HQWHU'ULYH6XLWH
6DFUDPHQWR&$
3ULQFHYLOOH+,

)$;

7RJHWKHUDV2QH*UDQW%HQQHWW$VVRFLDWHVLVD0HPEHURIWKH$OOLRWW*OREDO$OOLDQFHRILQGHSHQGHQWSURIHVVLRQDOILUPV

FRQVLGHUHGPDWHULDOLIWKHUHLVDVXEVWDQWLDOOLNHOLKRRGWKDWLQGLYLGXDOO\RULQWKHDJJUHJDWHWKH\ZRXOGLQIOXHQFH WKHMXGJPHQWPDGHE\DUHDVRQDEOHXVHUEDVHGRQWKHILQDQFLDOVWDWHPHQWV
,QSHUIRUPLQJDQDXGLWLQDFFRUGDQFHZLWKJHQHUDOO\DFFHSWHGDXGLWLQJVWDQGDUGVDQG*RYHUQPHQW$XGLWLQJ 6WDQGDUGVZH

x ([HUFLVHSURIHVVLRQDOMXGJPHQWDQGPDLQWDLQSURIHVVLRQDOVNHSWLFLVPWKURXJKRXWWKHDXGLW
x ,GHQWLI\DQGDVVHVVWKHULVNVRIPDWHULDOPLVVWDWHPHQWRIWKHILQDQFLDOVWDWHPHQWVZKHWKHUGXHWRIUDXG RUHUURUDQGGHVLJQDQGSHUIRUPDXGLWSURFHGXUHVUHVSRQVLYHWRWKRVHULVNV6XFKSURFHGXUHVLQFOXGH H[DPLQLQJRQDWHVWEDVLVHYLGHQFHUHJDUGLQJWKHDPRXQWVDQGGLVFORVXUHVLQWKHILQDQFLDOVWDWHPHQWV
x 2EWDLQDQXQGHUVWDQGLQJRILQWHUQDOFRQWUROUHOHYDQWWRWKHDXGLWLQRUGHUWRGHVLJQDXGLWSURFHGXUHVWKDW DUH DSSURSULDWH LQ WKH FLUFXPVWDQFHV EXW QRW IRU WKH SXUSRVH RI H[SUHVVLQJ DQ RSLQLRQ RQ WKH HIIHFWLYHQHVVRIWKH3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ 36++&
DQGVXEVLGLDULHVLQWHUQDOFRQWURO
$FFRUGLQJO\QRVXFKRSLQLRQLVH[SUHVVHG

x (YDOXDWH WKH DSSURSULDWHQHVV RI DFFRXQWLQJ SROLFLHV XVHG DQG W KH UHDVRQDEOHQHVV RI VLJQLILFDQW DFFRXQWLQJ HVWLPDWHV PDGH E\ PDQDJHPHQW DV ZHOO DV HYDOXDWH WKH RYHUDOO SUHVHQWDWLRQ RI WKH ILQDQFLDOVWDWHPHQWV

x &RQFOXGHZKHWKHULQRXUMXGJPHQWWKHUHDUHFRQGLWLRQVRUHYHQWVFRQVLGHUHGLQWKHDJJUHJDWHWKDW UDLVHVXEVWDQWLDOGRXEWDERXWWKH3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ 36++&
DQGVXEVLGLDULHV
DELOLW\WRFRQWLQXHDVDJRLQJFRQFHUQIRUDUHDVRQDEOHSHULRGRIWLPH
:HGLGQRWDXGLWWKHILQDQFLDOVWDWHPHQWVRI(O3DWLR/36FKRROKRXVH/DQH$SDUWPHQWV/32DN)RUHVW $VVRFLDWHV/32FHDQVLGH*DUGHQV/3%HOULGJH6WUHHW$VVRFLDWHV/36WRUNH5DQFK$SDUWPHQWV/3 7HPSOHWRQ3ODFH/36HTXRLD$IIRUGDEOH+RXVLQJ$VVRFLDWHV/30DULSRVD5HDOH/3-XQLSHU6WUHHW $VVRFLDWHV/3&DQ\RQ&UHHN/3/RV$GREHV'H0DULD,,5LR9LVWD$VVRFLDWHV+HDWK+RXVH//&&DVDV /DV*UDQDGDV/3/DFKHQ7DUD/39LOODVDW+LJXHUD/3&\SUHVV3ODFHDW*DUGHQ&LW\/3/RV$GREHV GH0DULD,/3DQG&ROOHJH3DUN+RXVLQJ$VVRFLDWHVZKLFKVWDWHPHQWVUHIOHFWWRWDODVVHWVRI

DQGUHVSHFWLYHO\DVRI-XQHDQGWRWDOVXSSRUWDQGUHYHQXHVRI

DQG
UHVSHFWLYHO\IRU
WKH\HDUWKHQHQGHG7KRVHVWDWHPHQWVZHUHDXGLWHGE\RWKHUDXGLWRUVZKRVHUHSRUWKDYHEHHQIXUQLVKHGWR XV DQG RXU RSLQLRQ LQVRIDU DV LW UHODWHV WR WKH DPRXQWV LQFOXGHG IRU (O 3DWLR /3 6FKRROKRXVH /DQH $SDUWPHQWV/32DN)RUHVW$VVRFLDWHV/32FHDQVLGH*DUGHQV/3%HOULGJH6WUHHW$VVRFLDWHV/3 6WRUNH5DQFK$SDUWPHQWV/37HPSOHWRQ3ODFH/36HTXRLD$IIRUGDEOH+RXVLQJ$VVRFLDWHV/30DULSRVD 5HDOH/3-XQLSHU6WUHHW$VVRFLDWHV/3&DQ\RQ&UHHN/3/RV$GREHV'H0DULD,,5LR9LVWD$VVRFLDWHV +HDWK+RXVH//&&DVDV/DV*UDQDGDV/3/DFKHQ7DUD/39LOODVDW+LJXHUD/3&\SUHVV3ODFHDW *DUGHQ&LW\/3/RV$GREHVGH0DULD,/3DQG&ROOHJH3DUN+RXVLQJ$VVRFLDWHVLVEDVHGVROHO\RQWKH UHSRUWRIWKHRWKHUDXGLWRUV

:HDUHUHTXLUHGWRFRPPXQLFDWHZLWKWKRVHFKDUJHGZLWKJRYHUQDQFHUHJDUGLQJDPRQJRWKHUPDWWHUVWKH SODQQHGVFRSHDQGWLPLQJRIWKHDXGLWVLJQLILFDQWDXGLWILQGLQJVDQGFHUWDLQLQWHUQDOFRQWUROUHODWHGPDWWHUVWKDW ZHLGHQWLILHGGXULQJWKHDXGLW

2 Attachment 4
Council Agenda 8-20-2024 Item 3.A

*UDQW%HQQHWW$VVRFLDWHV
$352)(66,21$/&25325$7,21

ZZZJEDFSDFRP
*ROG&HQWHU'ULYH6XLWH
6DFUDPHQWR&$
3ULQFHYLOOH+,

)$;

7RJHWKHUDV2QH*UDQW%HQQHWW$VVRFLDWHVLVD0HPEHURIWKH$OOLRWW*OREDO$OOLDQFHRILQGHSHQGHQWSURIHVVLRQDOILUPV

6XSSOHPHQWDU\,QIRUPDWLRQ
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¶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

2WKHU5HSRUWLQJ5HTXLUHGE\*RYHUQPHQW$XGLWLQJ6WDQGDUGV ,QDFFRUGDQFHZLWK*RYHUQPHQW$XGLWLQJ6WDQGDUGVZHKDYHDOVRLVVXHGRXUUHSRUWGDWHG2FWREHU RQRXUFRQVLGHUDWLRQRIWKH3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ 36++&
DQGVXEVLGLDULHVLQWHUQDOFRQWURO
RYHUILQDQFLDOUHSRUWLQJDQGRQRXUWHVWVRILWVFRPSOLDQFHZLWKFHUWDLQSURYLVLRQVRIODZVUHJXODWLRQVFRQWUDFWV DQGJUDQWDJUHHPHQWVDQGRWKHUPDWWHUV7KHSXUSRVHRIWKDWUHSRUWLVWRGHVFULEHWKHVFRSHRIRXUWHVWLQJRI LQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJDQGFRPSOLDQFHDQGWKHUHVXOWVRIWKDWWHVWLQJDQGQRWWRSURYLGHDQ RSLQLRQRQLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJRURQFRPSOLDQFH7KDWUHSRUWLVDQLQWHJUDOSDUWRIDQDXGLW SHUIRUPHGLQDFFRUGDQFHZLWK*RYHUQPHQW$XGLWLQJ6WDQGDUGVLQFRQVLGHULQJWKH3HRSOH¶V6HOI+HOS+RXVLQJ &RUSRUDWLRQ
36++&
DQGVXEVLGLDULHVLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJDQGFRPSOLDQFH
5HSRUWRQ6XPPDUL]HG&RPSDUDWLYH,QIRUPDWLRQ

:HKDYHSUHYLRXVO\DXGLWHG3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ¶V-XQHFRQVROLGDWHGILQDQFLDO VWDWHPHQWVDQGZHH[SUHVVHGDQXQPRGLILHGDXGLWRSLQLRQRQWKRVHDXGLWHGILQDQFLDOVWDWHPHQWVLQRXUUHSRUW GDWHG6HSWHPEHU,QRXURSLQLRQWKHVXPPDUL]HGFRPSDUDWLYHLQIRUPDWLRQSUHVHQWHGKHUHLQDVRIDQG IRUWKH\HDUHQGHG-XQHLVFRQVLVWHQWLQDOOPDWHULDOUHVSHFWVZLWKWKHDXGLWHGILQDQFLDOVWDWHPHQWV IURPZKLFKLWKDVEHHQGHULYHG

*5$17%(11(77$662&,$7(6
$352)(66,21$/&25325$7,21
&HUWLILHG3XEOLF$FFRXQWDQWV
5DQFKR&RUGRYD&DOLIRUQLD
2FWREHU
3 Attachment 4
Council Agenda 8-20-2024 Item 3.A

5HVWDWHG

$66(76
&XUUHQW$VVHWV
&DVKDQG&DVK(TXLYDOHQWV

&DVK5HVLGHQW$VVLVWDQFH

*UDQWV5HFHLYDEOH

$FFRXQWV5HFHLYDEOH
1RWH&

3URSHUW\LQ'HYHORSPHQW&XUUHQW3RUWLRQ
1RWH%

&RQWUDFWV5HFHLYDEOH&XUUHQW3RUWLRQ
1RWH&

3UHSDLG([SHQVHV

7RWDO&XUUHQW$VVHWV

2WKHU$VVHWV
&DVK3URSHUW\5HVHUYHV
1RWH2

(QGRZPHQW)XQGDQG2WKHU,QYHVWPHQWV
1RWH5

/LPLWHG3DUWQHUVKLS'HSRVLWV
1RWH1

3URSHUW\LQ'HYHORSPHQW
1RWH%

&RQWUDFWV5HFHLYDEOH/RQJ7HUP
1RWH&

7RWDO2WKHU$VVHWV

1RWHV5HFHLYDEOH
1RWH)

3URSHUW\DQG(TXLSPHQW
/HVV
$FFXPXODWHG'HSUHFLDWLRQRI

UHVSHFWLYHO\
1RWH'

727$/$66(76

/,$%,/,7,(6$1'1(7$66(76
&XUUHQW/LDELOLWLHV
$FFRXQWV3D\DEOH$FFUXHG/LDELOLWLHV /RQJ7HUP'HEW&XUUHQW3RUWLRQ
1RWH,

6HFXULW\'HSRVLWV3D\DEOH

'HIHUUHG5HYHQXH5HVWULFWHG
1RWH(

7RWDO&XUUHQW/LDELOLWLHV 2WKHU/LDELOLWLHV
&RQVWUXFWLRQ:DUUDQW\5HVHUYH
1RWH+

3URSHUW\'HYHORSPHQW5HVHUYHV
1RWH*

/HDVH/LDELOLW\
1RWH:

7RWDO2WKHU/LDELOLWLHV

/RQJ7HUP'HEWOHVV&XUUHQW3RUWLRQ
1RWH,

727$//,$%,/,7,(6

1(7$66(76
:LWKRXW'RQRU5HVWULFWLRQV

8QGHVLJQDWHG

%RDUGGHVLJQDWHG
1RWH/

7RWDO8QUHVWULFWHG

:LWK'RQRU5HVWULFWLRQV

5HVWULFWHGIRU6SHFLILF3XUSRVHV
1RWH/

(QGRZPHQW)XQG
1RWH/

1HLJKERU:RUNV$PHULFD&DSLWDO)XQG
1RWH/

7RWDO1HW$VVHWV

727$//,$%,/,7,(6$1'1(7$66(76

3(23/(
66(/)+(/3+286,1*&25325$7,21
&2162/,'$7('67$7(0(1762)),1$1&,$/326,7,21
-81($1'
6HHQRWHVWRWKHILQDQFLDOVWDWHPHQWV
4
Attachment 4
Council Agenda 8-20-2024 Item 3.A

Restated
2022
Without Donor Restricted for Endowment
Restrictions Specific Purposes Funds Totals Totals
REVENUE, GAINS, & OTHER SUPPORT:

Grant/Contract Revenue $ 11,442,431 $- $- $ 11,442,431 $ 7,961,426 Interest and Dividend Revenue (Note R) 1,001,947 - 177 1,002,124 1,464,695 Rental Revenue 12,671,948 - 12,671,948 12,016,257
Contributions - 858,038 1,020 859,058 614,594
Non-Financial Asset Contributions 31,110 31,110 14,260 Other Revenue 1,153,588 - 1,153,588 808,613
Gain/(Loss) on Sale of Property (Note J) 133 - 133 1,600,544 Release from restriction 690,286 (690,286) - -
Total revenue, gains and
other support 26,991,443 167,752 1,197 27,160,392 24,480,389 EXPENSES:

Progam Services 22,543,251 - - 22,543,251 21,268,751 Supporting Services
Management and General 3,367,441 - - 3,367,441 2,541,012 Fund Development 513,991 - - 513,991 423,664
Total expenses 26,424,683 - - 26,424,683 24,233,427 Revenue Over Expenses 566,760 167,752 1,197 735,709 246,962 Additional Capital Contributions/Withdrawals 65,144 - - 65,144 - Net assets at beginning of year 82,139,966 255,568 190,207 82,585,741 82,338,779 NET ASSETS AT END OF YEAR $82,771,870 $423,320 $191,404 $83,386,594 $82,585,741 WITH SUMMARIZED COMPARATIVE TOTALS FOR 2022
2023
With Donor Restrictions

PEOPLE'S SELF-HELP HOUSING CORPORATION

CONSOLIDATED STATEMENTS OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2023
See notes to financial statements
5 Attachment 4
Council Agenda 8-20-2024 Item 3.A

5HVWDWHG

&$6+)/2:6)52023(5$7,1*$&7,9,7,(6
&KDQJHLQQHWDVVHWV

$GGEDFNQRQFDVKLWHP
'LVSRVDORI)L[HG$VVHWV

'HSUHFLDWLRQ
$FFUXHG,QWHUHVW

,QFUHDVH
'HFUHDVHLQ

&DVK5HVLGHQW$VVLVWDQFH

&DVK3URSHUW\5HVHUYHV

*UDQWV5HFHLYDEOH

$FFRXQWV5HFHLYDEOH

1RWHV5HFHLYDEOH

3UHSDLG([SHQVHV

/LPLWHG3DUWQHUVKLS'HSRVLWV

3URSHUW\LQ'HYHORSPHQW

&RQWUDFWV5HFHLYDEOH

,QFUHDVH
'HFUHDVH
LQ

$FFRXQWV3D\DEOH$FFUXHG/LDELOLWLHV

6HFXULW\'HSRVLWV3D\DEOH

'HIHUUHG5HYHQXH

/HDVH/LDELOLW\
5HVHUYHV

1HW&DVK3URYLGHG
8VHG
E\2SHUDWLQJ$FWLYLWLHV

&$6+)/2:6)520,19(67,1*$&7,9,7,(6
$GGLWLRQVWR,QYHVWPHQWV

3XUFKDVHRI3URSHUW\DQG(TXLSPHQW

$GGLWLRQDO&DSLWDO&RQWULEXWLRQV
1HW&DVK3URYLGHG
8VHG
E\,QYHVWLQJ$FWLYLWLHV

&$6+)/2:6)520),1$1&,1*$&7,9,7,(6
3URFHHGVIURP1RWHV3D\DEOH

3D\PHQWVRQ1RWHV3D\DEOH

1HW&DVK3URYLGHG
8VHG
E\)LQDQFLQJ$FWLYLWLHV

1HW,QFUHDVH
'HFUHDVH
LQ&DVKDQG&DVK(TXLYDOHQWV

&DVKDQGFDVKHTXLYDOHQWVDWWKHEHJLQQLQJRIWKH\HDU

&$6+$1'&$6+(48,9$/(176$77+((1'2)7+(<($5

6XSSOHPHQWDU\,QIRUPDWLRQ

,QWHUHVW3DLG

3(23/(
66(/)+(/3+286,1*&25325$7,21
&2162/,'$7('67$7(0(1762)&$6+)/2:6
)257+(<($56(1'('-81($1'
6HHQRWHVWRWKHILQDQFLDOVWDWHPHQWV
6
Attachment 4
Council Agenda 8-20-2024 Item 3.A

5HVWDWHG

3URJUDP 0DQDJHPHQW )XQG
6HUYLFHV DQG*HQHUDO 'HYHORSPHQW 7RWDOV 7RWDOV
6DODULHV

)ULQJH%HQHILWV

3URIHVVLRQDO)HHV

0LOHDJH

7UDLQLQJ:RUNVKRSV&RQIHUHQFHV

'XHV6XEVFULSWLRQV

5HQW

8WLOLWLHV
6XSSOLHV

3RVWDJH
5HSDLUV 0DLQWHQDQFH
7HOHSKRQH

3ULQWLQJ &RS\LQJ
,QVXUDQFH 5HQWDO3URSHUW\,QWHUHVW([SHQVH
5HQWDO3URSHUW\2SHUDWLQJ([SHQVH

,QWHUHVW([SHQVH

0LVFHOODQHRXV
'HSUHFLDWLRQ([SHQVH

'HSUHFLDWLRQ5HQWDO3URSHUWLHV

:DUUDQW\([SHQVH &DSLWDO([SHQVHV

7RWDO)XQFWLRQDO([SHQVHV

3(23/(
66(/)+(/3+286,1*&25325$7,21
&2162/,'$7('67$7(0(172))81&7,21$/(;3(16(6
)257+(<($5(1'('-81(:,7+
6800$5,=('&203$5$7,9(727$/6)25

See notes to financial statements
-6-7
Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH$
6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6

%DFNJURXQG
,QFRUSRUDWHGLQ
3HRSOH¶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

36++&
VERDUGRIGLUHFWRUVDOVRVHUYHVDVERDUGRIGLUHFWRUVIRUWKHIROORZLQJQRQSURILW

FRUSRUDWLRQV

2FHDQ9LHZ0DQRU,QFRUSRUDWHGD&DOLIRUQLDQRQSURILWFRUSRUDWLRQZDVIRUPHGWRRZQ DQGRSHUDWHWKH2FHDQ9LHZ0DQRU$SDUWPHQWVDXQLW+8'VHFWLRQKRXVLQJ SURMHFWORFDWHGLQ0RUUR%D\&DOLIRUQLD,Q0DUFKIRUWKHSXUSRVHRIUHV\QGLFDWLRQ DQGUHKDELOLWDWLRQRIWKHSURSHUW\WKHSURMHFWDVVHWZDVVROGWR2FHDQ9LHZ0DQRU/3 D&DOLIRUQLDOLPLWHGSDUWQHUVKLSDQGWKH+8'QRWHZDVSDLGRIIWRFRQYHUWWKHSURMHFWLQWR DORZLQFRPHKRXVLQJWD[FUHGLWSURMHFW

9DOHQWLQH&RXUW,QFRUSRUDWHGD&DOLIRUQLDQRQSURILWFRUSRUDWLRQZDVIRUPHGWRRZQDQG RSHUDWHWKH9DOHQWLQH&RXUW$SDUWPHQWVDXQLW+8'VHFWLRQKRXVLQJSURMHFW ORFDWHGLQ6DQWD0DULD&DOLIRUQLD,Q0D\IRUWKHSXUSRVHRIUHV\QGLFDWLRQDQG UHKDELOLWDWLRQ RI WKH SURSHUW\ WKH SURMHFW DVVHW ZDV VROG WR 9DOHQWLQH &RXUW /3 D &DOLIRUQLD/LPLWHG3DUWQHUVKLSDQGWKH+8'QRWHZDVSDLGRIIWRFRQYHUWWKHSURMHFWLQWR DORZLQFRPHKRXVLQJWD[FUHGLWSURMHFW

9DOHQWLQH&RXUW,,,QFRUSRUDWHGD&DOLIRUQLDQRQSURILWFRUSRUDWLRQZDVIRUPHGWRRZQ DQGRSHUDWHWKH9DOHQWLQH&RXUW,,$SDUWPHQWVDXQLW+8'VHFWLRQKRXVLQJSURMHFW ORFDWHGLQ6DQWD0DULD&DOLIRUQLD

9DOHQWLQH&RXUW,,,,QFD&DOLIRUQLDQRQSURILWFRUSRUDWLRQZDVIRUPHGWRRZQDQGRSHUDWH WKH9DOHQWLQH&RXUW,,,DSDUWPHQWFRPSOH[D
XQLW+8'VHFWLRQKRXVLQJSURMHFW
ORFDWHGLQ6DQWD0DULD&DOLIRUQLD

/RV5REOHV7HUUDFH,QFRUSRUDWHGD&DOLIRUQLDQRQSURILWFRUSRUDWLRQZDVIRUPHGWRRZQ DQGRSHUDWHWKH/RV5REOHV7HUUDFH$SDUWPHQWVDXQLW+8'VHFWLRQKRXVLQJ SURMHFW ORFDWHG LQ 3DVR 5REOHV &DOLIRUQLD ,Q $XJXVW IRU WKH SXUSRVH RI UHV\QGLFDWLRQDQGUHKDELOLWDWLRQRIWKHSURSHUW\WKHSURMHFWDVVHWZDVVROGWR/RV5REOHV 7HUUDFH/3D&DOLIRUQLD/LPLWHG3DUWQHUVKLSDQGWKH+8'QRWHZDVSDLGRIIWRFRQYHUW WKHSURMHFWLQWRDORZLQFRPHKRXVLQJWD[FUHGLWSURMHFW 8 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH$
6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6±&RQWLQXHG
%DFNJURXQG±&RQWLQXHG
2FHDQVLGH*DUGHQV,QF2DN)RUHVW$SDUWPHQWV,QF6FKRROKRXVH/DQH$SDUWPHQWV,QFDQG &&RXUW,QFDUHQRQSURILWFRUSRUDWLRQVWKDWZHUHIRUPHGWRSDUWLFLSDWHLQORZLQFRPHKRXVLQJWD[ FUHGLWSURMHFWV

2DN*URYH+RXVLQJ,QFD&DOLIRUQLDQRQSURILWFRUSRUDWLRQZDVIRUPHGWRRZQDQGRSHUDWHWKH &UHHNVLGH*DUGHQVDSDUWPHQWFRPSOH[D
XQLW+8'VHFWLRQKRXVLQJSURMHFWORFDWHGLQ
3DVR5REOHV&DOLIRUQLD

&KDSHO&RXUW+RXVLQJ&RUSRUDWLRQD&DOLIRUQLDQRQSURILWFRUSRUDWLRQZDVIRUPHGWRFRQVWUXFW DQGRSHUDWHWKH&KDSHO&RXUW$SDUWPHQWVDXQLW86'$VHFWLRQKRXVLQJSURMHFWORFDWHG LQ&DUSLQWHULD&DOLIRUQLD

%DVLVRI$FFRXQWLQJ
36++&
VILQDQFLDOVWDWHPHQWVDUHSUHVHQWHGRQWKHDFFUXDOEDVLVRIDFFRXQWLQJDQGDFFRUGLQJO\ UHIOHFWDOOVLJQLILFDQWUHFHLYDEOHVSD\DEOHVDQGRWKHUOLDELOLWLHV
)LQDQFLDO6WDWHPHQW3UHVHQWDWLRQ
36++&LVUHTXLUHGWRUHSRUWLQIRUPDWLRQUHJDUGLQJLWVILQDQFLDOSRVLWLRQDQGDFWLYLWLHVDFFRUGLQJWR WZRFODVVHVRIQHWDVVHWV
ZLWKGRQRUUHVWULFWLRQVDQGZLWKRXWGRQRUUHVWULFWLRQV
/HDVHV
'XULQJWKHILVFDO\HDUWKH2UJDQL]DWLRQDGRSWHG$6&/HDVHVHIIHFWLYH-XO\ XVLQJWKHPRGLILHGUHWURVSHFWLYHPHWKRGRIDGRSWLRQ)RRWQRWH:GHWDLOVWKH2UJDQL]DWLRQ¶V OHDVHDFFRXQWLQJDQGFRPPLWPHQWVIRUWKH\HDUHQGLQJ
&RVW$OORFDWLRQ
7KHFRVWVRISURYLGLQJWKHYDULRXVSURJUDPVDQGDFWLYLWLHVKDYHEHHQVXPPDUL]HGRQDIXQFWLRQDO EDVLVLQWKHVWDWHPHQWRIDFWLYLWLHV&RVWVDUHDOORFDWHGGLUHFWO\WRWKHSURJUDPRUVHUYLFHWKDWLV EHQHILWHG &HUWDLQ FRVWV GR QRW EHQHILW D SURJUDP GLUHFWO\ DQG DUH FODVVLILHG DV JHQHUDO DQG DGPLQLVWUDWLYHH[SHQVHVLQWKHVWDWHPHQWRIDFWLYLWLHV
3HRSOHV¶6HOI+HOS+RXVLQJDOORFDWHVFRPPRQFRVWVEDVHGRQWKHUDWLRRIHDFKDFWLYLW\¶VGLUHFWVDODU\ EHQHILWFRVWWRWRWDOVDODULHV EHQHILWVH[SHQVHV6DODULHVDUHEDVHGRQHPSOR\HHV¶WLPHFDUGV ZKLFKDOORFDWHWKHWLPHDQGHIIRUWUHFRUGHGWRHDFKSURJUDPGLUHFWO\7LPHDQGHIIRUWWKDWGRHVQRW EHQHILWDSURJUDPGLUHFWO\LVFRQVLGHUHGDFRPPRQFRVW
6WDWHPHQWRI&DVK)ORZVDQG&DVKDQG&DVK(TXLYDOHQWV
)RUSXUSRVHVRIWKHVWDWHPHQWRIFDVKIORZV36++&FRQVLGHUVDOOVKRUWWHUPLQYHVWPHQWV ZLWKDQRULJLQDOPDWXULW\RIWKUHHPRQWKVRUOHVVWREHFDVKHTXLYDOHQWV

$FFRXQWV1RWHV*UDQWVDQG&RQWUDFWV5HFHLYDEOHV
36++&FRQVLGHUVDFFRXQWVUHFHLYDEOHJUDQWVUHFHLYDEOHQRWHVUHFHLYDEOHDQGFRQWUDFWV UHFHLYDEOHV WREH IXOO\ FROOHFWLEOH
DFFRUGLQJO\ QRDOORZDQFHIRUGRXEWIXODFFRXQWV LV
UHTXLUHG,IDPRXQWVEHFRPHXQFROOHFWLEOHWKH\ZLOOEHFKDUJHGWRRSHUDWLRQVZKHQWKDW GHWHUPLQDWLRQLVPDGH

9 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH$
6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6±&RQWLQXHG
,QFRPH7D[6WDWXV
36++&LVH[HPSWIURPIHGHUDOLQFRPHWD[HVXQGHU6HFWLRQ F

RIWKH,QWHUQDO
5HYHQXH&RGHDQGWKH&DOLIRUQLD)UDQFKLVH7D[%RDUGFRGHVHFWLRQ G
7KH
,QWHUQDO5HYHQXH6HUYLFHKDVDOVRGHWHUPLQHGWKDW36++&LVQRWDSULYDWHIRXQGDWLRQ XQGHU,56&RGH6HFWLRQ

D
0DQDJHPHQWEHOLHYHV36++&KDVQRXQFHUWDLQWD[
SRVLWLRQVDVRI-XQH
(VWLPDWHV
7KHSUHSDUDWLRQRIILQDQFLDOVWDWHPHQWVLQFRQIRUPLW\ZLWKJHQHUDOO\DFFHSWHGDFFRXQWLQJ SULQFLSOHVUHTXLUHVPDQDJHPHQWWRPDNHHVWLPDWHVDQGDVVXPSWLRQVWKDWDIIHFWFHUWDLQ UHSRUWHGDPRXQWVRIDVVHWVDQGOLDELOLWLHVGLVFORVXUHRIFRQWLQJHQWDVVHWVDQGOLDELOLWLHV DQGWKHUHSRUWHGUHYHQXHDQGH[SHQVHV

3ULQFLSOHVRI&RQVROLGDWLRQ
7KHFRQVROLGDWHGILQDQFLDOVWDWHPHQWVLQFOXGHWKHDFFRXQWVRI3HRSOH¶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
&DSLWDOL]DWLRQRI$VVHWV
$VVHWVSXUFKDVHGZLWKXQUHVWULFWHGJUDQWIXQGVDUHQRWGHSUHFLDWHGEXWH[SHQVHGZKHQ SXUFKDVHG$VVHWVSXUFKDVHGZLWKRWKHUXQUHVWULFWHGIXQGVDUHUHFRUGHGDWFRVWDQG GHSUHFLDWHGRYHUWKHXVHIXOOLIHRIWKHDVVHW

7KHVWUDLJKWOLQHPHWKRGRIGHSUHFLDWLRQLVDSSOLHGWRIL[HGDVVHWVXVLQJWKHIROORZLQJ HVWLPDWHVRIXVHIXOOLIH

%XLOGLQJDQG,PSURYHPHQWRU\HDUV
(TXLSPHQWRU\HDUV
9HKLFOHV\HDUV

$FTXLVLWLRQRISURSHUW\DQGHTXLSPHQWLQH[FHVVRIDUHFDSLWDOL]HG3URSHUW\DQG HTXLSPHQWDUHFDUULHGDWFRVWRULIGRQDWHGDWWKHDSSUR[LPDWHIDLUYDOXHDWWKHGDWHRI GRQDWLRQ

&RPSDUDWLYH)LQDQFLDO,QIRUPDWLRQ
7KHILQDQFLDOVWDWHPHQWVLQFOXGHFHUWDLQSULRU\HDUVXPPDUL]HGFRPSDUDWLYHLQIRUPDWLRQLQ WRWDOEXWQRWE\FODVVLILFDWLRQRIUHYHQXHH[SHQVHVIXQFWLRQDOH[SHQVHVDQGQHWDVVHWV 6XFKLQIRUPDWLRQGRHVQRWLQFOXGHVXIILFLHQWGHWDLOWRFRQVWLWXWHDSUHVHQWDWLRQLQFRQIRUPLW\ ZLWKJHQHUDOO\DFFHSWHGDFFRXQWLQJSULQFLSOHV$FFRUGLQJO\VXFKLQIRUPDWLRQVKRXOGEH UHDGLQFRQMXQFWLRQZLWK36++&
VFRQVROLGDWHGILQDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG-XQH 5HVWDWHGIURPZKLFKWKHVXPPDUL]HGLQIRUPDWLRQZDVGHULYHG 10 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH%
3523(57<,1'(9(/230(17

3URSHUW\LQ'HYHORSPHQWUHSUHVHQWVWKHDFFXPXODWHGFRVWVLQFOXGLQJ&DSLWDOL]HG([SHQVHV DVRI-XQHIRUSURSHUW\DQGLPSURYHPHQWVIRUWKHIROORZLQJSURMHFWV

3URMHFW1DPH5HVWDWHG

&XUUHQW3RUWLRQ
6XPPHU+ROO\/DQH
1LSRPR&$
6HOI+HOS/RWV

)XWXUH6LWH5HVHDUFK

7RWDO&XUUHQW3RUWLRQ

/RQJ7HUP3RUWLRQ
6XPPHU+ROO\/DQH
1LSRPR&$
6HOI+HOS/RWV

/RV2VRV6HOI+HOS/RWV

0LVVLRQ*DUGHQ6HOI+HOS/RWV3KDVH,, *UHHQILHOG±6HOI+HOS/RWV

6N\OLJKW+RPHV
6DQWD0DULD&$
6HOI+HOS/RWV
'HO5LR5LGJH
$WDVFDGHUR&$

%XHOOWRQ*DUGHQ
&\SUHVV3ODFH
2[QDUG&$

&\SUHVV3ODFH,,
2[QDUG&$

)LOOPRUH7HUUDFH

/RV$GREHV'H0DULD, &DPEULD3LQHV$SDUWPHQWV

5ROOLQJ+LOOV,,,

6RXWK%D\$SDUWPHQWV,, 6DQ/XLV5DQFK

6FDWWHUHG6LWH6%'DKOLD&RXUW 6FDWWHUHG6LWH6%/DGHUD

6FDWWHUHG6LWH6%9LFWRULD6WUHHW

&0&9HQWXUD3URMHFW
)XWXUH6LWH5HVHDUFK

7RWDO/RQJ7HUP3RUWLRQ

727$/3523(57<,1'(9(/230(17

11 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH&
&2175$&765(&(,9$%/($1'$&&281765(&(,9$%/(

&RQWUDFWVUHFHLYDEOHFRQVLVWRIWKHIROORZLQJDVRI-XQH
3URMHFW1DPH5HVWDWHG
&XUUHQW3RUWLRQ
$WDVFDGHUR*DUGHQ5HKDE ,VOD9LVWD5HKDE

/RV$GREHV'H0DULD,5HKDE 6LHUUD0DGUH&RWWDJHV *XDGDOXSH&RXUW

*URYHU%HDFK

7LEXURQ3ODFH 5ROOLQJ+LOOV,, 7HPSOHWRQ3ODFH,,

%URDG6WUHHW3ODFH
3LVPR7HUUDFH 3HRSOH¶V3ODFH &\SUHVV3ODFHDW*DUGHQ&LW\3KDVH,

3UHSDLG*HQHUDO&RQVWUXFWLRQ

'HYHORSPHQW)HHV 7RWDO&XUUHQW3RUWLRQ

/RQJ7HUP3RUWLRQ
3UHSDLG*HQHUDO&RQVWUXFWLRQ 'HYHORSPHQW)HHV 7RWDO/RQJ7HUP3RUWLRQ
727$/&2175$&765(&(,9$%/(

12 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH&
&2175$&765(&(,9$%/($1'$&&281765(&(,9$%/(±&RQWLQXHG
$FFRXQWVUHFHLYDEOHFRQVLVWRIWKHIROORZLQJDVRI-XQH

1RWH'
3523(57<$1'(48,30(17

3URSHUW\DQGHTXLSPHQWDVRI-XQHFRQVLVWRIWKHIROORZLQJ

5HVWDWHG
/DQG

%XLOGLQJVDQG,PSURYHPHQWV

)XUQLWXUH)L[WXUHVDQG(TXLSPHQW

$FFXPXODWHG'HSUHFLDWLRQ

727$/

3URSHUW\FRQVLVWVRI

UHQWDOXQLWVLQSURMHFWVDQGWKUHHDGPLQLVWUDWLYHRIILFHV 'HVFULSWLRQ5HVWDWHG

The Duncan Group$ 15,264 $ 232,382
Due from Rental Properties 3,236,622 2,403,562
Construction Costs Advanced to Rental Properties 5,889,349 2,242,891 Frontline Fees 11,937 9,838
Partnership Management Fees 381,151 346,183
Self-Help Family Project Advances 111,722 37,715 Other 18,350 23,568
El Patio Hotel L.P. Consolidated A/R 3,513 7,275 Heath House LLC, Consolidated A/R 13,681 8,683
Oceanside Gardens L.P. Consolidated A/R 1,066 51 Belridge L.P. Consolidated A/R 1,010 -
College Park Housing Associates L.P. Consolidated A/R 9,076 10,005 Storke Ranch L.P. Consolidated A/R 3,830 6
Schoolhouse Lane Apartments Consolidated A/R 2,669 2,580 Templeton Place L.P. Consolidated A/R 3,370 10,773 Sequoia Affording Housing Associates, L.P. Consolidated A/R 3,008 2,830 Mariposa Real L.P. Consolidated A/R 3,567 3,563
Juniper Street Associates L.P. Consolidated A/R 6,419 12,671 Los Adobes de Maria I L.P. Consolidated A/R 74,297 - Los Adobes de Maria II L.P. Consolidated A/R 4 11,049 Rio Vista Associates L.P. Consolidated A/R 6,666 3,777 Canyon Creek L.P. Consolidated A/R 2,256 -
Villas at Higuera L.P. Consolidated A/R 1,086 4
Lachen Tara L.P. Consolidated A/R 18 61

TOTAL ACCOUNTS RECEIVABLE$9,799,931$5,369,467
13 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH(
'()(55('5(9(18(

'HIHUUHGUHYHQXHZKLFKUHSUHVHQWVJUDQWVDQGRWKHULQFRPHUHFHLYHGEXWQRW\HWHDUQHG FRQVLVWVRIWKHIROORZLQJDW-XQH

1RWH)
127(65(&(,9$%/(

7KHUH DUH WZR FODVVLILFDWLRQV IRU 3HRSOH¶V 6HOI+HOS +RXVLQJ &RUSRUDWLRQV¶ QRWHV UHFHLYDEOH)LUVWWKHUHDUHORDQVJUDQWHGWRORZDQGPRGHUDWHLQFRPHKRXVHKROGVIRU DVVLVWDQFHLQWKHSXUFKDVHRIQHZKRPHVDQGWKHUHKDELOLWDWLRQRIH[LVWLQJKRPHV7KHVH ORDQVDUHWUDGLWLRQDOO\VHFRQGWUXVWGHHGVPDGHLQDFFRUGDQFHZLWKWKHUHVWULFWLRQVRIWKH OHQGHUVDQGJUDQWRUVWKDWIXQGWKHVHSURJUDPV,QWHUHVWUDWHVUDQJHIURPWR 7HUPVDUHIRUXSWR\HDUV7KHORDQVDUHJHQHUDOO\GXHRQVDOHRUUHILQDQFH$OOORDQV DUHVHFXUHGE\DGHHGRIWUXVW1RORDQVZHUHGHOLQTXHQWDVRI-XQH$VRI-XQH DQG UHVWDWHG WKH EDODQFH RI WKH IDPLO\ QRWHV LV DQG

UHVSHFWLYHO\6HFRQG36++&JUDQWHGVXERUGLQDWHGHIHUUHGSD\PHQWQRWHV WRHQWLWLHVWKDWRZQDIIRUGDEOHKRXVLQJDSDUWPHQWVWKDWUHQWWRYHU\ORZORZDQGPRGHUDWH LQFRPHKRXVHKROGV7KHVHORDQVSURYLGHGILQDQFLQJIRUWKHUHKDELOLWDWLRQDQGFRQVWUXFWLRQ RIDIIRUGDEOHKRXVLQJXQLWVLQ6DQ/XLV2ELVSRDQG6DQWD%DUEDUDFRXQWLHV7KHSULQFLSDO DQGLQWHUHVWLVGHIHUUHGWKURXJKPDWXULW\DQGUHVLGXDOFDVKUHFHLSWVJHQHUDWHGE\WKHVH DIIRUGDEOHKRXVLQJSURMHFWVPD\SURYLGHDQQXDOSD\PHQWV7\SLFDOO\WKHLQWHUHVWUDWH UDQJHVIURPWR$OOORDQVDUHVHFXUHGE\DGHHGRIWUXVW$VRI-XQH DQG UHVWDWHG WKH EDODQFH RI WKH DIIRUGDEOH KRXVLQJ GHYHORSPHQW QRWHV LV DQG
UHVSHFWLYHO\

5HVWDWHG

5HQW

7$*UDQWV
7HQDQW*UDQWV
&ROOHJH&OXE
(GXFDWLRQ&HQWHU±/RV$GREHV'H0DULD
&,,3URJUDP

1HLJKERU:RUNV

(GXFDWLRQ&HQWHU±*HQHUDO
%XLOGHU*DPHV
/DQG'HYHORSPHQW 5HVHDUFK

(GXFDWLRQ&HQWHU±&HOHEUH
6XSSRUWLYH+RXVLQJ3URJUDP

8QUHVWULFWHG
0LVF*UDQWV
727$/'()(55('5(9(18(

14 Attachment 4
Council Agenda 8-20-2024 Item 3.A

PEOPLE’S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2023 AND 2022 RESTATED

Note G: PROPERTY DEVELOPMENT WARRANTY RESERVE

The property development reserve was established to cover the exposure that PSHHC has to the limited partners of the tax credit projects for operating deficits and for certain economic projections as defined by the indemnification agreement. PSHHC’s policy was to set-up 15% of its developer fee for this exposure. As of June 30, 2023 and 2022, the balance of the property development reserve is $0 and $267,358, respectively.

Note H: CONSTRUCTION WARRANTY RESERVE

The construction warranty estimated liability as of June 30, 2023 and 2022 restated are $4,369,886 and $3,370,318, respectively, and are established as a reserve for possible construction repairs and additional costs associated with completed self-help projects. Included in this balance is a general construction warranty estimated liability. As of June 30, 2023 and 2022 restated general contractors warranty reserve was $4,165,527 and $3,235,753, respectively, and was established in the prior fiscal years as a reserve for possible construction repairs and additional costs associated with performing as the general contractor on multi-family projects completed through June 30, 2023.

Note I: LONG-TERM DEBT

Long-term debt consists of the following as of June 30, 2023:

Lending Institution Purpose Secured by
Maturity
Date Rate Balance
Notes Payable – General Operating, Construction and Development

Wells Fargo Bank General Operations Unsecured 5/22/2027 2.00% 500,000 Duncan Group Affordable Housing Dev Unsecured LOC 12/31/2023 3..00% 500,000 Community Housing Capital, Inc. Property & Project Atascadero, CA (Land) 12/22/2025 9.50% 988,000 County of San Luis Obispo Cambria Land Cambria Land 7/17/2026 0.00% 540,000 United Methodist Church General Operations Unsecured None 0.00% 11,000 Mission Bank General Operation Unsecured LOC 10/5/2027 4.50% 2,000,000 Private Individual Social Impact Note Unsecured 4/1/2026 3.00% 400,000 Housing Trust Fund of Santa Barbara Buelton Buelton, CA (Land) 6/25/2026 3.75% 1,600,000 NW Capital – Santa Maria Land Land Development Santa Maria, CA (Land) 10/1/2024 6.00% 2,111,000 Housing Trust Fund of San Luis Obispo County Multifamily Project Cambria Water Units 12/23/2023 5.00% 281,817 NW Capital – Fillmore Land Fillmore Land Fillmore, CA (Land) 9/1/2023 5.25% 1,190,000 Housing Trust Fund of San Luis Obispo County Rolling Hills III Templeton, CA (Land) 11/1/2023 5.50% 1,600,000 Housing Trust Fund of San Luis Obispo County Rolling Hills III Water Units Water Units 11/1/2023 5.50% 291,667 Housing Assistance Council SHH – Mustang Families Unsecured 3/13/2025 0.00% 94,500 Housing Trust Fund of San Luis Obispo County Self Help Housing Devel Nipomo, CA (Land) 9/1/2025 4.95% 400,000 NW Capital – Cypress Land Oxnard (Cypress) Land Oxnard, CA (Land) 11/1/2024 5.75% 1,633,453 Housing Trust Fund of Ventura County Fillmore Pre-Devel Fillmore, CA (Land) 4/25/2025 4.00% 1,000,000 City of Santa Maria (CDBG) LDM2 Rehab Capital Unsecured 7/1/2030 0.00% 196,640 Rural Community Assistance Corp. SHH – Greenfield Greenfield, CA (Land) 9/1/2023 5.00% 1,515,000 Premier Valley Bank Perm Loan New Office Kendall Rd, SLO, CA 2/14/2032 3.90% 7,940,682 Housing Trust Fund of Santa Barbara County SHH – Santa Maria Santa Maria, CA (Land) 3/1/2024 4.50% 674,000 Housing Assistance Council SHH – Nipomo Nipomo, CA (Land) 1/31/2027 5.00% 313,547 Housing Assistance Council (SHOP) SHH – Nipomo Nipomo, CA (Land) 3/31/2026 0.00% 150,000 Total Notes Payable – General Operating, Construction and Development 25,931,806

15 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH,
/21*7(50'(%7±&RQWLQXHG
/HQGLQJ,QVWLWXWLRQ3XUSRVH6HFXUHGE\
0DWXULW\
'DWH5DWH%DODQFH
1RWHV3D\DEOH
5HQWDO3URSHUWLHV

&RQYHQWLRQDO/RDQV
3DFLILF:HVWHUQ%DQN$WDVFDGHUR*DUGHQV$SW%XLOGLQJ/DQG
3DFLILF/LIH%HOULGJH$SW%XLOGLQJ/DQG :HOOV)DUJR%DQN&DVDV/DV*UDQDGDV$SW%XLOGLQJ/DQG
-30RUJDQ&KDVH&DQ\RQ&UHHN$SWV$SW%XLOGLQJ/DQG 86'HSDUWPHQWRI$JULFXOWXUH&DQ\RQ&UHHN$SWV$SW%XLOGLQJ/DQG
5XUDO&RPPXQLW\$VVLVWDQFH&RUS&DQ\RQ&UHHN$SWV$SW%XLOGLQJ/DQG

%HUNDGLD&ROOHJH3DUN$SW%XLOGLQJ/DQG

-30RUJDQ&KDVH&\SUHVV3ODFH,$SW%XLOGLQJ/DQG
0HFKDQLFV%DQN'DKOLD&RXUW$SWV$SW%XLOGLQJ/DQG
5XUDO&RPPXQLW\$VVLVWDQFH&RUS'DKOLD&RXUW$SWV$SW%XLOGLQJ/DQG
0RQWHFLWR%DQN 7UXVW(OOZRRG$SDUWPHQWV$SW%XLOGLQJ/DQG +RXVLQJ7UXVW)XQGRI6DQWD%DUEDUD&RXQW\+HDWK+RXVH//&$SW%XLOGLQJ/DQG
3DFLILF/LIH-XQLSHU6W$SWV$SW%XLOGLQJ/DQG 3DFLILF/LIH/D%ULVD$SW%XLOGLQJ/DQG

8QLRQ%DQN/DGHUD$SDUWPHQWV$SW%XLOGLQJ/DQG 86'HSDUWPHQWRI$JULFXOWXUH/RV$GREHV'H0DULD,$SW%XLOGLQJ/DQG 86'HSDUWPHQWRI$JULFXOWXUH/RV$GREHV'H0DULD,,$SW%XLOGLQJ/DQG *UH\VWRQH6HUYLFLQJ&RUS0DULSRVD7RZQKRPHV$SW%XLOGLQJ/DQG &DOLIRUQLD&RPPXQLW\5HLQYHVWPHQW&RUS2DN)RUHVW$SW%XLOGLQJ/DQG
86'HSDUWPHQWRI$JULFXOWXUH3DFLILF9LHZV$SWV$SW%XLOGLQJ/DQG

5XUDO&RPPXQLW\$VVLVWDQFH&RUS5LR9LVWD$VVRFLDWHV$SW%XLOGLQJ/DQG
%HUNDGLD5LYHU9LHZ7RZQKRPHV$SW%XLOGLQJ/DQG 3DFLILF/LIH6FKRROKRXVH/DQH$SW%XLOGLQJ/DQG 0HFKDQLFV%DQN6HD+DYHQ$SWV$SW%XLOGLQJ/DQG &$+RXVLQJ)LQDQFH$JHQF\6WRUNH5DQFK$SW%XLOGLQJ/DQG

3DFLILF:HVWHUQ%DQN9LFWRULD+RWHO$SW%XLOGLQJ/DQG
0RQWHFLWR%DQN 7UXVW9LFWRULD6W%XQJDORZV$SW%XLOGLQJ/DQG -30RUJDQ&KDVH9LOODVDW+LJXHUD$SW%XLOGLQJ/DQG

0HFKDQLFV%DQN9LOODVDW+LJXHUD&RPPHUFLDO8QLWV

7RWDO1RWHV3D\DEOH
5HQWDO3URSHUWLHV

&RQYHQWLRQDO/RDQV

1RWHV3D\DEOH
5HQWDO3URSHUWLHV

'HIHUUHG3ULQFLSDO3D\PHQWV
&RXQW\RI6DQ/XLV2ELVSR
+20(
%HOULGJH$SW%XLOGLQJ/DQG

&LW\RI6DQWD%DUEDUD
+20(
&DVDV/DV*UDQDGDV$SW%XLOGLQJ/DQG &RDVW1DWLRQDO%DQN
$+3
&DVDV/DV*UDQDGDV$SW%XLOGLQJ/DQG %DQNRIWKH:HVW&DQ\RQ&UHHN$SWV$SW%XLOGLQJ/DQG &DOLIRUQLD'HSDUWPHQWRI+&'&DQ\RQ&UHHN$SWV$SW%XLOGLQJ/DQG
&RXQW\RI6DQ/XLV2ELVSR
+20(
&DQ\RQ&UHHN$SWV$SW%XLOGLQJ/DQG

&LW\RI3DVR5REOHV&DQ\RQ&UHHN$SWV$SW%XLOGLQJ/DQG
&DOLIRUQLD'HSDUWPHQWRI+&'
+20(
&DZHOWL&RXUW$SW%XLOGLQJ/DQG &LW\RI$UUR\R*UDQGH
&'%*
&DZHOWL&RXUW$SW%XLOGLQJ/DQG
/RV3DGUHV1DWLRQDO%DQN
$+3
&ROOHJH3DUN$SW%XLOGLQJ/DQG &DOLIRUQLD'HSDUWPHQWRI+&'
0+3
&ROOHJH3DUN$SW%XLOGLQJ/DQG &RXQW\RI6DQWD%DUEDUD
+20(
&ROOHJH3DUN$SW%XLOGLQJ/DQG &RXQW\RI6DQWD%DUEDUD
5'$
&ROOHJH3DUN$SW%XLOGLQJ/DQG
&LW\RI/RPSRF
5'$
&ROOHJH3DUN$SW%XLOGLQJ/DQG
&LW\RI2[QDUG
+20(
&\SUHVV3ODFH,$SW%XLOGLQJ/DQG &LW\RI&DUSLQWHULD'DKOLD&RXUW$SWV$SW%XLOGLQJ/DQG

&RXQW\RI6DQWD%DUEDUD
+20(
'DKOLD&RXUW$SWV$SW%XLOGLQJ/DQG
&RXQW\RI6DQWD%DUEDUD
&'%*
'DKOLD&RXUW$SWV$SW%XLOGLQJ/DQG

16 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH,
/21*7(50'(%7±&RQWLQXHG
0DWXULW\
/HQGLQJ,QVWLWXWLRQ3XUSRVH6HFXUHGE\'DWH5DWH%DODQFH &$7D[&UHGLW$OORFDWLRQ&RPPLWWHH
7&$&
(O3DWLR+RWHO$SW%XLOGLQJ/DQG &LW\RI9HQWXUD
+20(&+'2
(O3DWLR+RWHO$SW%XLOGLQJ/DQG &LW\RI9HQWXUD5'$(O3DWLR+RWHO$SW%XLOGLQJ/DQG
&DOLIRUQLD'HSDUWPHQWRI+&'
):+*
(OOZRRG$SDUWPHQWV$SW%XLOGLQJ/DQG &LW\RI*ROHWD
+20(
(OOZRRG$SDUWPHQWV$SW%XLOGLQJ/DQG &LW\RI6DQWD%DUEDUD
&'%*
(OOZRRG$SDUWPHQWV$SW%XLOGLQJ/DQG
&LW\RI6DQWD%DUEDUD
+20(
(OOZRRG$SDUWPHQWV$SW%XLOGLQJ/DQG
&RXQW\RI6DQWD%DUEDUDRI+&'
/353
+HDWK+RXVH//&$SW%XLOGLQJ/DQG &RXQW\RI6DQWD%DUEDUD
+($3
+HDWK+RXVH//&$SW%XLOGLQJ/DQG &DOLIRUQLD'HSDUWPHQWRI+&'
+20(&+'2
-XQLSHU6WUHHW$SWV$SW%XLOGLQJ/DQG &RXQW\RI6DQ/XLV2ELVSR+20(/D%ULVD$SW%XLOGLQJ/DQG
&DOLIRUQLD'HSDUWPHQWRI+&'
):+*
/D%ULVD$SW%XLOGLQJ/DQG &DOLIRUQLD'HSDUWPHQWRI+&'
0+3
/DFKHQ7DUD$SW%XLOGLQJ/DQG

&DOLIRUQLD'HSDUWPHQWRI+&'
-6):+*
/DFKHQ7DUD$SW%XLOGLQJ/DQG &RXQW\RI6DQ/XLV2ELVSR
+20(
/DFKHQ7DUD$SW%XLOGLQJ/DQG
&RXQW\RI6DQ/XLV2ELVSR
&'%*
/DFKHQ7DUD$SW%XLOGLQJ/DQG 3HRSOH¶V6HOI+HOS+RXVLQJ&RUS/DFKHQ7DUD$SW%XLOGLQJ/DQG &LW\RI6DQWD%DUEDUD
&'%*±+5/3
/DGHUD$SDUWPHQWV$SW%XLOGLQJ/DQG &LW\RI6DQWD%DUEDUD5'$/DGHUD$SDUWPHQWV$SW%XLOGLQJ/DQG 3DFLILF:HVWHUQ%DQN/RV$GREHV'H0DULD,$SW%XLOGLQJ/DQG 3HRSOH¶V6HOI+HOS+RXVLQJ/RV$GREHV'H0DULD,$SW%XLOGLQJ/DQG 0HFKDQLFV%DQN/RV$GREHV'H0DULD,,$SW%XLOGLQJ/DQG &RXQW\RI6DQWD%DUEDUD
+20(
/RV$GREHV'H0DULD,,$SW%XLOGLQJ/DQG

&DOLIRUQLD'HSDUWPHQWRI+&'
):+*
/RV$GREHV'H0DULD,,$SW%XLOGLQJ/DQG
&RXQW\RI6DQWD%DUEDUD
+20(
0DULSRVD7RZQKRPHV$SW%XLOGLQJ/DQG 0RQWHFLWR%DQN 7UXVW0DULSRVD7RZQKRPHV$SW%XLOGLQJ/DQG &DOLIRUQLD'HSDUWPHQWRI+&'
+20(&+'2
2DN)RUHVW$SW%XLOGLQJ/DQG
&LW\RI$UUR\R*UDQGH
&'%*
2DN)RUHVW$SW%XLOGLQJ/DQG &DOLIRUQLD'HSDUWPHQWRI+&'
+20(&+'2
2FHDQVLGH*DUGHQV$SW%XLOGLQJ/DQG &LW\RI0RUUR%D\
&'%*
2FHDQVLGH*DUGHQV$SW%XLOGLQJ/DQG &LW\RI0RUUR%D\
&'%*
2FHDQVLGH*DUGHQV$SW%XLOGLQJ/DQG &DOLIRUQLD'HSDUWPHQWRI+&'
):+*
5LR9LVWD$VVRFLDWHV$SW%XLOGLQJ/DQG
&DOLIRUQLD'HSDUWPHQWRI+&'
+20(
5LR9LVWD$VVRFLDWHV$SW%XLOGLQJ/DQG

&RXQW\RI6DQ/XLV2ELVSR
+20(
6FKRROKRXVH/DQH$SW%XLOGLQJ/DQG &DOLIRUQLD'HSDUWPHQWRI+&'
+20(&+'2
6HD+DYHQ$SWV$SW%XLOGLQJ/DQG

&LW\RI0RUUR%D\
&'%*
6HTXRLD$SDUWPHQWV$SW%XLOGLQJ/DQG &LW\RI0RUUR%D\
&'%*
6HTXRLD$SDUWPHQWV$SW%XLOGLQJ/DQG &$'HSDUWPHQWRI+&'
''6
6WRUNH5DQFK$SW%XLOGLQJ/DQG &RXQW\RI6DQWD%DUEDUD5'$6WRUNH5DQFK$SW%XLOGLQJ/DQG &RXQW\RI6DQ/XLV2ELVSR±&'%*7HPSOHWRQ3ODFH$SWV$SW%XLOGLQJODQG &RXQW\RI6DQ/XLV2ELVSR±+20(7HPSOHWRQ3ODFH$SWV$SW%XLOGLQJ/DQG &LW\RI6DQWD%DUEDUD
+20(
9LFWRULD+RWHO$SW%XLOGLQJ/DQG

&LW\RI6DQWD%DUEDUD
&'%*
9LFWRULD+RWHO$SW%XLOGLQJ/DQG

&LW\RI6DQWD%DUEDUD
+20(
9LFWRULD6W%XQJDORZV$SW%XLOGLQJ/DQG
&LW\RI6DQWD%DUEDUD
+20(&+'2
9LFWRULD6W%XQJDORZV$SW%XLOGLQJ/DQG
&LW\RI6DQWD%DUEDUD5'$9LFWRULD6W%XQJDORZV$SW%XLOGLQJ/DQG
&RDVW1DWLRQDO%DQN
$+3
9LOODVDW+LJXHUD$SW%XLOGLQJ/DQG

&RXQW\RI6DQ/XLV2ELVSR
+20(
9LOODVDW+LJXHUD$SW%XLOGLQJ/DQG 17 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH,
/21*7(50'(%7±&RQWLQXHG
0DWXULW\
/HQGLQJ,QVWLWXWLRQ3XUSRVH6HFXUHGE\'DWH5DWH%DODQFH
&LW\RI6DQ/XLV2ELVSR9LOODVDW+LJXHUD$SW%XLOGLQJ/DQG

&LW\RI6DQ/XLV2ELVSR
&'%*
9LOODVDW+LJXHUD$SW%XLOGLQJ/DQG 7RWDO1RWHV3D\DEOH
5HQWDO3URSHUWLHV

'HIHUUHG3ULQFLSDO3D\PHQWV

1RWHV3D\DEOH
5HQWDO3URSHUWLHV

)RUJLYHQRU5HFRYHUDEOH*UDQWV
&RXQW\RI6DQ/XLV2ELVSR
+20(
$WDVFDGHUR$SWV$SW%XLOGLQJ/DQG &LW\RI$WDVFDGHUR
&'%*
$WDVFDGHUR$SWV$SW%XLOGLQJ/DQG &RXQW\RI6DQ/XLV2ELVSR
+20(
%UL]]RODUD$SWV$SW%XLOGLQJ/DQG &DOLIRUQLD'HSDUWPHQWRI+&'
):+*
'DKOLD&RXUW$SWV$SW%XLOGLQJ/DQG &LW\RI6%+RPH5HFRYHUDEOH*UDQW+HDOWK+RXVH//&$SW%XLOGLQJ/DQG 3DFLILF:HVWHUQ%DQN$+3(O3DWLR+RWHO$SW%XLOGLQJ/DQG &RXQW\RI9HQWXUD(O3DWLR+RWHO$SW%XLOGLQJ/DQG
&DOLIRUQLD'HSDUWPHQWRI+&'
):+*
,VOD9LVWD$SDUWPHQWV$SW%XLOGLQJ/DQG

&RDVW1DWLRQDO%DQN
$+3
/DFKHQ7DUD$SW%XLOGLQJ/DQG 6DQWD%DUEDUD%DQN 7UXVW
$+3
/DGHUD$SDUWPHQWV$SW%XLOGLQJ/DQG
&RXQW\RI6DQ/XLV2ELVSR
&'%*
6HD+DYHQ$SWV$SW%XLOGLQJ/DQG

&RXQW\RI6DQWD%DUEDUD
+20(
6WRUNH5DQFK$SW%XLOGLQJ/DQG 6DQWD%DUEDUD%DQN 7UXVW
$+3
9LFWRULD+RWHO$SW%XLOGLQJ/DQG 7RWDO1RWHV3D\DEOH
5HQWDO3URSHUWLHV

)RUJLYHQRU5HFRYHUDEOH*UDQWV

1RWHV3D\DEOH±5HQWDO3URSHUWLHV

7RWDO/RQJ7HUP'HEW

&XUUHQW3RUWLRQ

/RQJ7HUP'HEW/HVV&XUUHQW3RUWLRQ

$JJUHJDWH3ULQFLSDOSD\PHQWVIRUWKHQH[WILYHILVFDO\HDUVDUHDVIROORZV
7KHUHDIWHU

18 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

127(63$<$%/(±0$785('127(6

7KHQRWHVSD\DEOHOLVWHGEHORZPDWXUHGDVRI-XQH7KHQRWHVDUHVHFXUHGE\DGHHGRIWUXVWDQG WKHUHLVDQREOLJDWLRQWRUHSD\WKHQRWHVXSRQVDOHRIWKHVHFXUHGDVVHWV7KHVHQRWHVZLOOUHPDLQDVDOLDELOLW\ XQWLOWKHGHHGRIWUXVWLVUHFRQYH\HG+RZHYHUWKHVHQRWHVZHUHQRWGXHXSRQWKHPDWXULW\GDWHEHFDXVHWKH REOLJDWLRQLVIRUJLYHQE\PHHWLQJDIIRUGDELOLW\UHTXLUHPHQWVZKLFKWKHRUJDQL]DWLRQPHWIRUWKHWHUPVRIWKHVH ORDQV

/HQGLQJ
,QVWLWXWLRQ
3URSHUW\1DPH6HFXUHGE\1RWH
7\SH
0DWXULW\,QWHUHVW%DODQFH
6$17$%$5%$5$
%$1. 75867

$+3

/DGHUD
$SDUWPHQWV
$SW
%XLOGLQJ/DQG
)RUJLYHQ

&$/,)251,$
'(3$570(17
2)+&'
):+*

'DKOLD&RXUW
$SDUWPHQWV
$SW
%XLOGLQJ/DQG
)RUJLYHQ

&$/,)251,$
'(3$570(17
2)+&'
):+*

,VOD9LVWD
$SDUWPHQWV
$SW
%XLOGLQJ/DQG
)RUJLYHQ

&2$67
1$7,21$/%$1.

$+3

/DFKHQ7DUD$SW
%XLOGLQJ/DQG
)RUJLYHQ

6$17$%$5%$5$
%$1. 75867

$+3

9LFWRULD+RWHO$SW
%XLOGLQJ/DQG
)RUJLYHQ

1RWH-
*$,125
/266
216$/(2)3523(57<

*DLQRU
/RVV
RQ6DOHRISURSHUW\IRUWKH\HDUHQGHG-XQHFRQVLVWVRIWKHIROORZLQJ

5HVWDWHG

*URVV6DOHV

&RVWRI3URSHUW\6ROG

*$,125
/266
216$/(2)
3523(57<

,Q$XJXVW3HRSOH¶V6HOI+HOS+RXVLQJVROGDXQLWDIIRUGDEOHKRXVLQJSURMHFWORFDWHGDW %RRQH6WUHHWLQ6DQWD0DULD&$7KHSURMHFWZDVVROGWR/RV$GREHVGH0DULD,/37KH /LPLWHG3DUWQHUVKLSLVRZQHGDQGFRQWUROOHGE\36++&7KHSURSHUW\ZDVVROGIRU ,Q0DUFK36++&VROGDQXQGHYHORSHGSURSHUW\ORFDWHGLQ2[QDUG&$WR&\SUHVV3ODFH DW*DUGHQ&LW\/37KHOLPLWHGSDUWQHUVKLSLVRZQHGDQGFRQWUROOHGE\36++&7KHSURSHUW\ ZLOOEHGHYHORSHGLQWRD
XQLWDIIRUGDEOHKRXVLQJSURMHFW7KHODQGZDVVROGIRU
1RWH.
3(16,213/$1

36++&HVWDEOLVKHGDGHILQHGFRQWULEXWLRQSURILWVKDULQJSHQVLRQSODQHIIHFWLYH-XO\
36++& FRQWULEXWHV D SHUFHQWDJH RI FRPSHQVDWLRQ IRU DOO HOLJLEOH HPSOR\HHV (PSOR\HHV EHFRPHYHVWHGDIWHUWZR\HDUVRIVHUYLFHDIWHUWKUHH\HDUVDIWHUIRXU\HDUVDQG DIWHUILYH\HDUV36++&¶VFRQWULEXWLRQZKLFKLVLQFOXGHGLQIULQJHEHQHILWVIRUWKH\HDUV HQGHG-XQHDQGUHVWDWHGLVDQGUHVSHFWLYHO\36++&DOVR PDLQWDLQVDVHSDUDWH
E
SODQWRZKLFKHPSOR\HHVPD\PDNHYROXQWDU\FRQWULEXWLRQV

19 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH/
1(7$66(76

$VRI-XQHWKHERDUGGHVLJQDWHGQHWDVVHWVFRQVLVWRIWKHIROORZLQJ

5HVWDWHG

/DQG'HYHORSPHQW)XQG
+RXVLQJ'HYHORSPHQW)XQG
6/2&RXQW\$IIRUGDEOH+RXVLQJ)XQG
727$/'(6,*1$7('1(7$66(76
1HWDVVHWVZLWKGRQRUUHVWULFWLRQVDUHUHVWULFWHGIRUWKHIROORZLQJSXUSRVHV

$IIRUGDEOH+RXVLQJ'HYHORSPHQW

6FKRODUVKLSV
(GXFDWLRQ3URJUDPV

5HVLGHQW$VVLVWDQFH)XQG

:RPHQ¶V)XQG

%XLOGHU*DPHV
7HQDQW$VVLVWDQFH*UDQGYLHZ
7HQDQW$VVLVWDQFH+HDWK+RXVH
727$/1(7$66(765(675,&7(')2563(&,),&385326(6

'RQRUUHVWULFWHGLQSHUSHWXLW\LQFOXGHWKHHQGRZPHQWIXQGVDQGLWHPVRIODQGEXLOGLQJV RUHTXLSPHQWZKLFKFRQVLVWRIJLIWVDQGEHTXHVWVDFFHSWHGZLWKWKHGRQRUVWLSXODWLRQWKDW WKH SULQFLSDO RU IL[HG DVVHW LWHP EH UHVWULFWHG LQ SHUSHWXLW\.36++& PDLQWDLQV DQ HQGRZPHQWIXQG7KHHDUQLQJVIURPWKHSHUSHWXDOHQGRZPHQWZLOOSURYLGHDSHUPDQHQW VRXUFHRIIXQGLQJIRUHGXFDWLRQDODQGRWKHUVXSSRUWVHUYLFHVIRUUHVLGHQWVRI36++&¶V UHQWDOSURSHUWLHV7KHEDODQFHRIHQGRZPHQWIXQGVDVRI-XQHDQG UHVWDWHGLV
DQG
UHVSHFWLYHO\

(QGRZPHQWQHWDVVHWVFRQVLVWRIGRQRUUHVWULFWHGIXQGVSHUWDLQWRWKHIROORZLQJ

5HVWDWHG

1HLJKERU:RUNV$PHULFD&DSLWDO)XQG
'RQRU5HVWULFWHG(QGRZPHQW)XQGV

727$/(QGRZPHQW)XQGV

1RWH0
&217,1*(17/,$%,/,7,(6

3URSHUW\'HYHORSPHQWDQG*HQHUDO&RQWUDFWRU5HVHUYH
36++&LVFRQWLQJHQWO\OLDEOHWRLQYHVWRUVIRUWKHRSHUDWLRQVRIORZLQFRPHKRXVLQJWD[ FUHGLWSURMHFWVDQGXQIXQGHGRSHUDWLQJGHILFLWJXDUDQWHHVWKHDPRXQWRIZKLFKFDQQRWEH UHDVRQDEO\GHWHUPLQHG0DQDJHPHQWLVQRWDZDUHRIDQ\FXUUHQWRSHUDWLRQDOSUREOHPVQRU GRHVLWH[SHFWDQ\LQWKHIXWXUH

20 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+( ŽĐĂƚŝŽŶ'ƵĂƌĂŶƚĞĞŵŽƵŶƚ
ǆƉŝƌĞƐ
dĞŵƉůĞƚŽŶWůĂĐĞ//͕>͘W͘dĞŵƉůĞƚŽŶ͕ΨϭϬ͕ϱϬϬ͕ϬϬϬϱͬϭͬϮϬϮϯ ƌŽĂĚ^ƚƌĞĞƚWůĂĐĞ͕>͘W͘^ĂŶ>ƵŝƐKďŝƐƉŽ͕Ψϭϲ͕ϰϵϬ͕ϬϬϬϲͬϭϬͬϮϬϮϯ /ƐůĂsŝƐƚĂƉĂƌƚŵĞŶƚƐ͕>͘W͘'ŽůĞƚĂ͕Ψϭϰ͕Ϯϴϯ͕ϭϮϬϭϮͬϭͬϮϬϮϯ WŝƐŵŽdĞƌƌĂĐĞ͕>͘W͘WŝƐŵŽĞĂĐŚ͕Ψϭϳ͕ϳϳϯ͕ϳϮϬϭͬϭϴͬϮϬϮϰ WĞŽƉůĞƐWůĂĐĞ͕>͘W͘^ĂŶƚĂWĂƵůĂ͕ΨϮϵ͕ϲϬϬ͕ϬϬϬϳͬϴͬϮϬϮϰ dŝďƵƌŽŶWůĂĐĞ͕>͘W͘^ĂŶ>ƵŝƐKďŝƐƉŽ͕ΨϮϴ͕ϮϰϬ͕ϵϵϭϲͬϭͬϮϬϮϱ >ŽƐĚŽďĞƐĚĞDĂƌŝĂ͕>͘W͘^ĂŶƚĂDĂƌŝĂ͕Ψϭϯ͕ϲϵϱ͕ϳϴϭϰͬϭͬϮϬϮϱ ǇƉƌĞƐƐWůĂĐĞĂƚ'ĂƌĚĞŶŝƚǇ͕>͘W͘KǆŶĂƌĚ͕Ψϰϵ͕ϰϲϭ͕ϰϲϳϭϭͬϯϬͬϮϬϮϱ

1RWH1
5(/$7('3$57,(6

7KHIROORZLQJQRQSURILWRUJDQL]DWLRQVDUHUHODWHGWRHDFKRWKHUGXHWRRYHUODSSLQJ%RDUG RI'LUHFWRUVPHPEHUVKLS

'XHWR36++&'XHIURP36++&
(QWLW\1DPH7\SH
7KH'XQFDQ*URXS3URSHUW\0DQDJHPHQW
3HRSOHV2SSRUWXQLW\)XQG%RDUGLV36+6WDII
6RXWK%D\,PSURYHPHQW$VVRFLDWLRQ&RQWUROOHGE\36++& 9DOHQWLQH&RXUW,QF+8'3URSHUW\
9DOHQWLQH&RXUW,,,QF+8'3URSHUW\
9DOHQWLQH&RXUW,,,,QF+8'3URSHUW\
/RV5REOHV7HUUDFH,QF+8'3URSHUW\ 2FHDQ9LHZ0DQRU,QF+8'3URSHUW\ 2DN*URYH+RXVLQJ,QF+8'3URSHUW\
2FHDQVLGH*DUGHQV,QF*HQHUDO3DUWQHULQ/3
6FKRROKRXVH/DQH$SDUWPHQWV,QF*HQHUDO3DUWQHULQ/3 &&RXUW,QF*HQHUDO3DUWQHULQ/3
2DN)RUHVW$SDUWPHQWV,QF*HQHUDO3DUWQHULQ/3 +HDOWK+RXVH//&36++&LV6LQJOH0HPEHU

21 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH1
5(/$7('3$57,(6&RQWLQXHG
7KHQRQSURILWRUJDQL]DWLRQVQRWHGDERYHVHUYHDVWKHJHQHUDOSDUWQHULQVRPHRIWKH IROORZLQJWD[FUHGLWOLPLWHGSDUWQHUVKLSV

(QWLW\1DPH7\SH
'XH7R36++&

'XH)URP36++&

%HOULGJH6WUHHW$VVRFLDWHV/37D[&UHGLW/LPLWHG3DUWQHUVKLS %URDG6WUHHW3ODFH/37D[&UHGLW/LPLWHG3DUWQHUVKLS 2,331,986 &DPEULD3LQHV/3/LPLWHG3DUWQHUVKLS 15,000
&DQ\RQ&UHHN/37D[&UHGLW/LPLWHG3DUWQHUVKLS - &DVDVGHODV)ORUHV/37D[&UHGLW/LPLWHG3DUWQHUVKLS - &DVDV/DV*UDQDGDV/37D[&UHGLW/LPLWHG3DUWQHUVKLS - &ROOHJH3DUN+RXVLQJ$VVRFLDWHV/37D[&UHGLW/LPLWHG3DUWQHUVKLS - &RXUWODQG6WUHHW$SDUWPHQWV/37D[&UHGLW/LPLWHG3DUWQHUVKLS - &UHVWRQ*DUGHQV/37D[&UHGLW/LPLWHG3DUWQHUVKLS 1,098,883 &\SUHVV3ODFHDW*DUGHQ&LW\/3
/LPLWHG3DUWQHUVKLS+&'
$FFHOHUDWRU
-

'DKOLD&RXUW,,/37D[&UHGLW/LPLWHG3DUWQHUVKLS 9,763 (O3DWLR/3
+&'$55$/LPLWHG
3DUWQHUVKLS
-

*XDGDOXSH&RXUW/37D[&UHGLW/LPLWHG3DUWQHUVKLS 147,406 +HDWK+RXVH//&6LQJOH0HPEHU//& -
,VOD9LVWD$SDUWPHQWV/37D[&UHGLW/LPLWHG3DUWQHUVKLS 1,989,269 -DUGLQGHODV5RVDV/37D[&UHGLW/LPLWHG3DUWQHUVKLS 34,552 -XQLSHU6WUHHW$VVRFLDWHV/37D[&UHGLW/LPLWHG3DUWQHUVKLS - /DFKHQ7DUD/37D[&UHGLW/LPLWHG3DUWQHUVKLS -
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ttachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH1
5(/$7('3$57,(6&RQWLQXHG

36++&LVD0DQDJLQJ0HPEHURU3DUWQHUDQGPDGHGHSRVLWVLQWKHIRUPRIFDSLWDO FRQWULEXWLRQVWRWKHIROORZLQJUHODWHGHQWLWLHV

5HVWDWHG

%URDG6WUHHW3ODFH/37D[&UHGLW/LPLWHG3DUWQHUVKLS

&DVDVGHODV)ORUHV/37D[&UHGLW/LPLWHG3DUWQHUVKLS

&RXUWODQG6WUHHW$SDUWPHQWV/37D[&UHGLW/LPLWHG3DUWQHUVKLS

&UHVWRQ*DUGHQV/37D[&UHGLW/LPLWHG3DUWQHUVKLS

'DKOLD&RXUW,,/37D[&UHGLW/LPLWHG3DUWQHUVKLS

*XDGDOXSH&RXUW/37D[&UHGLW/LPLWHG3DUWQHUVKLS

-DUGLQGHODV5RVDV/37D[&UHGLW/LPLWHG3DUWQHUVKLS

/RV$GREHVGH0DULD,,,/37D[&UHGLW/LPLWHG3DUWQHUVKLS

/RV5REOHV7HUUDFH/37D[&UHGLW/LPLWHG3DUWQHUVKLS

2FHDQ9LHZ0DQRU/37D[&UHGLW/LPLWHG3DUWQHUVKLS

3HRSOHV3ODFH/37D[&UHGLW/LPLWHG3DUWQHUVKLS

3LVPR7HUUDFH/37D[&UHGLW/LPLWHG3DUWQHUVKLS

5ROOLQJ+LOOV,,7D[&UHGLW/LPLWHG3DUWQHUVKLS

6LHUUD0DGUH&RWWDJHV/37D[&UHGLW/LPLWHG3DUWQHUVKLS

7HPSOHWRQ3ODFH,,/37D[&UHGLW/LPLWHG3DUWQHUVKLS

7LEXURQ3ODFH/37D[&UHGLW/LPLWHG3DUWQHUVKLS

9DOHQWLQH&RXUW,,,,QF
F&RUSRUDWLRQ+8'
3URSHUW\

9LOODJHDW/RV&DUQHURV/37D[&UHGLW/LPLWHG3DUWQHUVKLS

7KH&RPSDQ\RUUHODWHGSDUWLHVDFWVDVWKHJHQHUDOSDUWQHULQOLPLWHGSDUWQHUVKLSV8QGHU)$6% 7RSLF&RQVROLGDWLRQ±&RQWURORI3DUWQHUVKLSVDQG6LPLODU(QWLWLHVFHUWDLQJHQHUDOSDUWQHUVDUH UHTXLUHGWRFRQVROLGDWHWKRVHSDUWQHUVKLSV7KH&RPSDQ\EHOLHYHVWKDWEHFDXVHLWLVVXEMHFWWR UHJXODWLRQVDQGUHVWULFWLRQVWKDWOLPLWWKHLUSRZHUVDVJHQHUDOSDUWQHUWKHVHUHJXODWLRQVDQG UHVWULFWLRQVRYHUFRPHWKHSUHVXPSWLRQRIFRQWUROE\WKHJHQHUDOSDUWQHU7KHUHIRUHWKHVHOLPLWHG SDUWQHUVKLSVKDYHQRWEHHQFRQVROLGDWHG

1RWH2
&$6+±3523(57<5(6(59(6

&DVK±SURSHUW\UHVHUYHVFRQVLVWRIFDVKDFFRXQWEDODQFHVIRUEXLOGLQJUHSODFHPHQW UHVHUYHVDVUHTXLUHGE\WKHIXQGLQJVRXUFHV:LWKGUDZDOIURPEXLOGLQJUHSODFHPHQW UHVHUYHV UHTXLUHV DSSURYDO IURP WKH IXQGLQJ VRXUFHV 7KH UHVHUYH DPRXQWV DUH DQGIRUWKH\HDUDQGUHVWDWHGUHVSHFWLYHO\

23 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH3
,1',5(&7&267

$QHJRWLDWHGLQGLUHFWFRVWDJUHHPHQWZDVDSSURYHGE\WKH86'HSDUWPHQWRILQWHULRU 1DWLRQDO%XVLQHVV&HQWHUIRUWKH86'HSDUWPHQWRI$JULFXOWXUH5XUDO+RXVLQJ6HUYLFH RQ$SULO7KHPHWKRGIRUFDOFXODWLQJ36++&¶VLQGLUHFWUDWHLVWKHWRWDOLQGLUHFW FRVWGLYLGHGE\WKHWRWDOGLUHFWVDODULHVDQGIULQJHOHVVXQUHVWULFWHGVDODU\DQGIULQJH7KH FXUUHQW\HDU¶VSUHGHWHUPLQHGLQGLUHFWFRVWUDWHLV
1RWH4
(1'2:0(17)81'

7KH2UJDQL]DWLRQ¶VHQGRZPHQWFRQVLVWVRIRQHIXQGHVWDEOLVKHGWRKROGGRQRUUHVWULFWHG JLIWVLQSHUSHWXLW\$VUHTXLUHGE\JHQHUDOO\DFFHSWHGDFFRXQWLQJSULQFLSOHVQHWDVVHWV DVVRFLDWHGZLWKHQGRZPHQWIXQGVDUHFODVVLILHGDQGUHSRUWHGEDVHGRQWKHH[LVWHQFHRU DEVHQFHRIGRQRULPSRVHGUHVWULFWLRQV

7KH%RDUGRI'LUHFWRUVRIWKH2UJDQL]DWLRQKDVLQWHUSUHWHGWKH6WDWH3UXGHQW0DQDJHPHQW RI,QVWLWXWLRQDO)XQGV$FW
630,)$
DVUHTXLULQJWKHSUHVHUYDWLRQRIWKHIDLUYDOXHRIWKH RULJLQDOJLIWDVRIWKHJLIWGDWHRIWKHGRQRUUHVWULFWHGHQGRZPHQWIXQGVDEVHQWH[SOLFLWGRQRU VWLSXODWLRQVWRWKHFRQWUDU\$VDUHVXOWRIWKLVLQWHUSUHWDWLRQWKH2UJDQL]DWLRQFODVVLILHVDV GRQRUUHVWULFWHG QHW DVVHWV
D
WKH RULJLQDO YDOXH RI JLIWV GRQDWHG WR WKH SHUPDQHQW HQGRZPHQWDQG
E
WKHRULJLQDOYDOXHRIVXEVHTXHQWJLIWVWRWKHSHUPDQHQWHQGRZPHQWDQG

F
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

WKH GXUDWLRQ DQG
SUHVHUYDWLRQ RI WKH IXQG

WKH SXUSRVHV RI WKH GRQRUUHVWULFWHG HQGRZPHQW IXQG

JHQHUDO HFRQRPLF FRQGLWLRQV

WKH SRVVLEOH HIIHFW RI LQIODWLRQ DQG GHIODWLRQ
WKH
H[SHFWHGWRWDOUHWXUQIURPLQFRPHDQGWKHDSSUHFLDWLRQRILQYHVWPHQWV
RWKHUUHVRXUFHV
RIWKH2UJDQL]DWLRQDQG

WKH2UJDQL]DWLRQ¶VLQYHVWPHQWSROLFLHV
Investment Return Objectives, Risk Parameters and Strategies 7KH 2UJDQL]DWLRQ KDV DGRSWHG LQYHVWPHQW DQG VSHQGLQJ SROLFLHV DSSURYHG E\ WKH %RDUG RI 'LUHFWRUV IRU HQGRZPHQWDVVHWVWKDWDWWHPSWWRSURYLGHDSUHGLFWDEOHVWUHDPRIIXQGLQJWRSURJUDPV VXSSRUWHGE\LWVHQGRZPHQWIXQGZKLOHDOVRPDLQWDLQLQJWKHSXUFKDVLQJSRZHURIWKRVH HQGRZPHQW DVVHWV RYHU WKH ORQJ WHUP $FFRUGLQJO\ WKH LQYHVWPHQW SURFHVV VHHNV WR DFKLHYHDQDIWHUFRVWWRWDOUHDOUDWHRIUHWXUQLQFOXGLQJLQYHVWPHQWLQFRPHDVZHOODVFDSLWDO DSSUHFLDWLRQZKLFKH[FHHGVWKHDQQXDOGLVWULEXWLRQZLWKDFFHSWDEOHOHYHOVRIULVN
(QGRZPHQWDVVHWVDUHLQYHVWHGLQDZHOOGLYHUVLILHGDVVHWPL[ZKLFKLQFOXGHVHTXLW\DQG GHEWVHFXULWLHVWKDWLVLQWHQGHGWRUHVXOWLQDFRQVLVWHQWLQIODWLRQSURWHFWHGUDWHRIUHWXUQWKDW KDV VXIILFLHQW OLTXLGLW\ WR PDNH DQ DQQXDO GLVWULEXWLRQ RI ZKLOH JURZLQJ WKH IXQG LI SRVVLEOH7KHUHIRUHWKH2UJDQL]DWLRQH[SHFWVLWVHQGRZPHQWDVVHWVRYHUWLPHWRSURGXFH DQDYHUDJHUDWHRIUHWXUQRIDSSUR[LPDWHO\DQQXDOO\$FWXDOUHWXUQVLQDQ\JLYHQ\HDU

24 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH4
(1'2:0(17)81'&RQWLQXHG

PD\YDU\IURPWKLVDPRXQW,QYHVWPHQWULVNLVPHDVXUHGLQWHUPVRIWKHWRWDOHQGRZPHQW IXQG
LQYHVWPHQWDVVHWVDQGDOORFDWLRQEHWZHHQDVVHWFODVVHVDQGVWUDWHJLHVDUHPDQDJHG WRQRWH[SRVHWKHIXQGWRXQDFFHSWDEOHOHYHOVRIULVN
Spending Policy.7KH2UJDQL]DWLRQKDVDSROLF\RIDSSURSULDWLQJIRUHDFK\HDURIWKH IXQG¶VDYHUDJHIDLUYDOXHPHDVXUHGDWWKHHQGRIWKHODVWWKUHHILVFDO\HDUV,QHVWDEOLVKLQJ WKLVSROLF\WKH2UJDQL]DWLRQFRQVLGHUHGWKHORQJWHUPH[SHFWHGUHWXUQRQLWVLQYHVWPHQW DVVHWV WKH QDWXUH DQG GXUDWLRQ RI WKH HQGRZPHQW IXQG ZKLFK PXVW EH PDLQWDLQHG LQ SHUSHWXLW\ EHFDXVH RI GRQRU UHVWULFWLRQV DQG WKH SRVVLEOH HIIHFWV RI LQIODWLRQ 7KH 2UJDQL]DWLRQH[SHFWVWKHFXUUHQWVSHQGLQJSROLF\WRDOORZLWVHQGRZPHQWIXQGVWRJURZDWD QRPLQDODYHUDJHUDWHRIDQQXDOO\7KLVLVFRQVLVWHQWZLWKWKH2UJDQL]DWLRQ¶VREMHFWLYHWR PDLQWDLQWKHSXUFKDVLQJSRZHURIWKHHQGRZPHQWDVVHWVDVZHOODVSURYLGHDGGLWLRQDOUHDO JURZWKWKURXJKQHZJLIWVDQGLQYHVWPHQWUHWXUQ

(QGRZPHQW1HW$VVHWVE\7\SHRI)XQGDVRI-XQHDUHDVIROORZV

1HW6XEMHFWWR
$SSURSULDWLRQRU
([SHQGLWXUH
7RWDO1HW
(QGRZPHQW
)XQGV

'RQRU5HVWULFWHG
(QGRZPHQW)XQGV

&KDQJHVLQHQGRZPHQWQHWDVVHWVDVRI-XQHDUHDVIROORZV

1HW6XEMHFWWR
$SSURSULDWLRQRU
([SHQGLWXUH
7RWDO1HW
(QGRZPHQW
$VVHWV
(QGRZPHQW1HW$VVHWV%HJLQQLQJRI<HDU

,QYHVWPHQW,QFRPH

(QGRZPHQW1HW$VVHWV(QGRI<HDU

1RWH5
,19(670(176

,QYHVWPHQWVFDUULHGDWIDLUYDOXHEDVHGRQTXRWHGSULFHVLQDFWLYHPDUNHWV DOO/HYHO

PHDVXUHPHQWV
FRQVLVWRIWKHIROORZLQJDW-XQH

5HVWDWHG

&DVKDQGFDVKHTXLYDOHQWVGRQRUUHVWULFWHG±
(QGRZPHQW)XQG

7RWDO,QYHVWPHQWVFDUULHGDWPDUNHWYDOXH

25 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH5
,19(670(176&RQWLQXHG

,QYHVWPHQW UHWXUQV ZKLFK DUH UHSRUWHG XQGHU LQWHUHVW DQG GLYLGHQG UHYHQXH LQ WKH 6WDWHPHQW RI $FWLYLWLHV IRU WKH \HDUV HQGHG -XQH DQG UHVWDWHGDUH VXPPDUL]HGDVIROORZV

5HVWDWHG

,QYHVWPHQWLQFRPH

1HWUHDOL]HGDQGXQUHDOL]HGJDLQ
ORVV

7RWDOLQYHVWPHQWUHWXUQ
ORVV

1RWH6
/,48,',7<$1'$9$,/$%,/,7<2)5(6285&(6

7KHIROORZLQJUHIOHFWVWKH2UJDQL]DWLRQ¶VILQDQFLDODVVHWVDVRIWKHEDODQFHVKHHWGDWH UHGXFHGE\DPRXQWVQRWDYDLODEOHIRUJHQHUDOXVHEHFDXVHRIFRQWUDFWXDORUGRQRU LPSRVHG UHVWULFWLRQV ZLWKLQ RQH \HDU RI WKH EDODQFH VKHHW GDWH 'RQRUUHVWULFWHG DPRXQWVWKDWDUHDYDLODEOHIRUXVHZLWKLQRQH\HDU

&DVKDQG&DVK(TXLYDOHQWV

&DVK5HVLGHQW$VVLVWDQFH)XQG
$FFRXQWV5HFHLYDEOH

*UDQWV5HFHLYDEOH

&RQWUDFWV5HFHLYDEOH
&XUUHQW

7RWDO)LQDQFLDO$VVHWV

/HVVWKRVHXQDYDLODEOHIRUJHQHUDOH[SHQGLWXUHVZLWKLQRQH\HDU GXHWR

%RDUG'HVLJQDWHG$FTXLVLWLRQ)XQG

6/2&RPPXQLW\)RXQGDWLRQ(QGRZPHQW)XQG

'RQRU5HVWULFWHG5HVLGHQW$VVLVWDQFH)XQG

'RQRU5HVWULFWHGWR3D\PHQWVIRU3URJUDP6SHFLILF&RVWV

5HVHUYHV5HVWULFWHGE\/RDQVDQG5HJXODWRU\$JUHHPHQWV

7HQDQW5HVWULFWHG6HFXULW\'HSRVLWV

'RQRU5HVWULFWHGIRU3XUFKDVHVRI/DQGDQG(TXLSPHQW &DSLWDO

)LQDQFLDODVVHWVDYDLODEOHWRPHHWFDVKQHHGVIRUJHQHUDOH[SHQGLWXUHVZLWKLQ RQH\HDU

7KH2UJDQL]DWLRQKDVRIILQDQFLDODVVHWVDYDLODEOHZLWKLQRQH\HDURIWKH EDODQFH VKHHW GDWH WR PHHW FDVK QHHGVIRU JHQHUDOH[SHQGLWXUHVLQFOXGLQJFDVKRI

,QDGGLWLRQWRWKHDERYHDPRXQWVWKH2UJDQL]DWLRQKDVWKUHHVHSDUDWH RSHUDWLQJ OLQHV RI FUHGLW DYDLODEOH IRU XVH RQ JHQHUDO H[SHQGLWXUHV 7KH ILUVW LV D FRPPLWPHQWIURPVW&DSLWDO%DQNLQWKHDPRXQWRI7KHHQWLUHEDODQFHZDV DYDLODEOHDVRI7KHVHFRQGLVDFRPPLWPHQWIURP0LVVLRQ%DQNLQWKHDPRXQW RIRIZKLFKZDVDYDLODEOHDW7KHILQDOFRPPLWPHQWLV IURP7KH'XQFDQ*URXSLQWKHDPRXQWRIRIZKLFKZDVDYDLODEOH DW
26 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH6
/,48,',7<$1'$9$,/$%,/,7<2)5(6285&(6&RQWLQXHG

7KH2UJDQL]DWLRQKDVDJRDOWRPDLQWDLQILQDQFLDODVVHWVZKLFKFRQVLVWRIFDVKDQG VKRUWWHUPLQYHVWPHQWVRQKDQGWRPHHW
GD\VRIQRUPDORSHUDWLQJH[SHQVHVZKLFK
DUHRQDYHUDJHDSSUR[LPDWHO\

1RWH7
1(,*+%25:25.6££$0(5,&$*5$17

7KHIROORZLQJ1HLJKERUZRUNV£$PHULFD*UDQWVZHUHLQHIIHFWGXULQJWKH\HDUHQGHG -XQH

8QUHVWULFWHG6XSSRUW
1HLJKERUZRUNV£$PHULFDSURYLGHGRIH[SHQGDEOHJUDQWVGXULQJWKH\HDUWR VXSSRUWFRUHRSHUDWLRQV

1RWH8
&21&(175$7,212)&5(',75,6.$5,6,1*)520&$6+'(326,76,1(;&(66 2),1685('/,0,76

36++&PDLQWDLQVLWVFDVKEDODQFHVLQYDULRXVILQDQFLDOLQVWLWXWLRQV7KHEDODQFHVDWWKH ILQDQFLDOLQVWLWXWLRQVDUHLQVXUHGE\WKH)HGHUDO'HSRVLW,QVXUDQFH&RUSRUDWLRQXSWR :KLOH36++&PDLQWDLQVFDVKLQEDQNVDQGILQDQFLDOLQVWLWXWLRQVLQDPRXQWV ZKLFKDWWLPHVH[FHHGWKHIHGHUDOO\LQVXUHGOLPLWV36++&KDVQRWH[SHULHQFHGDQ\ ORVVHVLQVXFKDFFRXQWVDQGEHOLHYHVWKH\DUHQRWH[SRVHGWRDQ\VLJQLILFDQWFUHGLWULVN RQFDVK

27 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH9
ACQUISITION OF LIMITED PARTNER INTEREST IN COLLEGE PARK HOUSING ASSOCIATES AND 2022 CONSOLIDATION

'XULQJ)<(3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ 36++&
DFTXLUHGD

OLPLWHGSDUWQHUVKLSLQWHUHVWLQ&ROOHJH3DUN+RXVLQJ$VVRFLDWHVD&DOLIRUQLD /LPLWHG3DUWQHUVKLSIRUPHGWRRSHUDWHDXQLWDIIRUGDEOHKRXVLQJSURSHUW\LQ/RPSRF &$7KH&ROOHJH3DUN+RXVLQJ$VVRFLDWHV/LPLWHG3DUWQHU

LQWHUHVWZDV
DFTXLUHGIURP1()$VVLJQPHQW&RUSRUDWLRQ36++&DFTXLUHGWKHSDUWQHUVKLSLQWHUHVW ZLWKWKHJRDORIPDLQWDLQLQJORQJWHUPDIIRUGDELOLW\IRUORZLQFRPHUHQWHUV
$VDUHVXOWRIWKHDFTXLVLWLRQWKH2UJDQL]DWLRQ¶V&RQVROLGDWHG6WDWHPHQWRI)LQDQFLDO 3RVLWLRQDQG&RQVROLGDWHG6WDWHPHQWRI$FWLYLWLHVIRUWKH\HDUHQGHG-XQH ZHUHUHVWDWHGDVVKRZQLQWKHQH[WWZRSDJHV

28 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

29 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

30 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH:±/HDVHV

3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQDGRSWHG$6&/HDVHVHIIHFWLYH-XO\ XVLQJWKHPRGLILHGUHWURVSHFWLYHPHWKRGRIDGRSWLRQ

7KH2UJDQL]DWLRQHOHFWHGWKHSDFNDJHRISUDFWLFDOH[SHGLHQWVZKLFKDPRQJRWKHULWHPV SHUPLWVWKH2UJDQL]DWLRQQRWWRUHDVVHVVXQGHUWKHQHZVWDQGDUGLWVSULRUFRQFOXVLRQV DERXWOHDVHLGHQWLILFDWLRQOHDVHFODVVLILFDWLRQDQGLQLWLDOGLUHFWFRVWV7KH2UJDQL]DWLRQDOVR HOHFWHGWKHVKRUWWHUPOHDVHUHFRJQLWLRQH[HPSWLRQIRUDOOOHDVHVWKDWTXDOLI\8QGHUWKLV HOHFWLRQWKH2UJDQL]DWLRQGRHVQRWUHFRJQL]HULJKWRIXVHDVVHWVRUOHDVHOLDELOLWLHVIRU OHDVHVZLWKDWHUPRIPRQWKVRUOHVVDQGGRQRWLQFOXGHDQRSWLRQWRSXUFKDVHWKH XQGHUO\LQJDVVHWWKDWWKH2UJDQL]DWLRQLVUHDVRQDEO\FHUWDLQWRH[HUFLVH
7KH2UJDQL]DWLRQLVDOHVVHHLQQRQFDQFHOODEOHRSHUDWLQJOHDVHVIRURIILFHVSDFH7KH 2UJDQL]DWLRQGHWHUPLQHVLIDQDUUDQJHPHQWLVDOHDVHRUFRQWDLQVDOHDVHDWLQFHSWLRQRID FRQWUDFWDQGZKHQWKHWHUPVRIDQH[LVWLQJFRQWUDFWDUHFKDQJHG7KH&RPSDQ\UHFRJQL]HV DOHDVHOLDELOLW\DQGDULJKWRIXVH
528
DVVHWDWWKHFRPPHQFHPHQWGDWHRIWKHOHDVH7KH
OHDVHOLDELOLW\LVLQLWLDOO\DQGVXEVHTXHQWO\UHFRJQL]HGEDVHGRQWKHSUHVHQWYDOXHRILWV IXWXUHOHDVHSD\PHQWV9DULDEOHSD\PHQWVDUHLQFOXGHGLQWKHIXWXUHOHDVHSD\PHQWVZKHQ WKRVHYDULDEOHSD\PHQWVGHSHQGRQDQLQGH[RUDUDWH7KHGLVFRXQWUDWHLVWKHLPSOLFLWUDWH LILWLVUHDGLO\GHWHUPLQDEOHRURWKHUZLVHWKH&RPSDQ\XVHVLWVLQFUHPHQWDOERUURZLQJUDWH 7KHLPSOLFLWUDWHVRIRXUOHDVHVDUHQRWUHDGLO\GHWHUPLQDEOHDQGDFFRUGLQJO\ZHXVHRXU LQFUHPHQWDOERUURZLQJUDWHEDVHGRQWKHLQIRUPDWLRQDYDLODEOHDWWKHFRPPHQFHPHQWGDWH IRUDOOOHDVHV7KH2UJDQL]DWLRQ¶VLQFUHPHQWDOERUURZLQJUDWHIRUDOHDVHLVWKHUDWHRI LQWHUHVWLWZRXOGKDYHWRSD\RQDFROODWHUDOL]HGEDVLVWRERUURZDQDPRXQWHTXDOWRWKH OHDVHSD\PHQWVXQGHUVLPLODUWHUPVDQGLQDVLPLODUHFRQRPLFHQYLURQPHQW7KH528 DVVHWLVVXEVHTXHQWO\PHDVXUHGWKURXJKRXWWKHOHDVHWHUPDWWKHDPRXQWRIWKH UHPHDVXUHGOHDVHOLDELOLW\
LHSUHVHQWYDOXHRIWKHUHPDLQLQJOHDVHSD\PHQWV
SOXV
XQDPRUWL]HGLQLWLDOGLUHFWFRVWVSOXV
PLQXV
DQ\SUHSDLG

DFFUXHG
OHDVHSD\PHQWVOHVV
WKHXQDPRUWL]HGEDODQFHRIOHDVHLQFHQWLYHVUHFHLYHGDQGDQ\LPSDLUPHQWUHFRJQL]HG /HDVHFRVWIRUOHDVHSD\PHQWVLVUHFRJQL]HGRQDVWUDLJKWOLQHEDVLVRYHUWKHOHDVHWHUP
7KH2UJDQL]DWLRQKDVREOLJDWLRQVDVDOHVVHHIRURIILFHVSDFHZLWKLQLWLDOQRQFDQFHOODEOH WHUPVLQH[FHVVRIRQH\HDU7KH&RPSDQ\FODVVLILHGWKHVHOHDVHVDVRSHUDWLQJOHDVHV 7KH2UJDQL]DWLRQ¶VOHDVHVGRQRWLQFOXGHWHUPLQDWLRQRSWLRQVIRUHLWKHUSDUW\WRWKHOHDVHRU UHVWULFWLYHILQDQFLDORURWKHUFRYHQDQWV7KH2UJDQL]DWLRQ¶VRIILFHVSDFHOHDVHVUHTXLUHLWWR PDNHYDULDEOHSD\PHQWVIRUWKH&RPSDQ\¶VSURSRUWLRQDWHVKDUHRIWKHEXLOGLQJ¶VSURSHUW\ WD[HVLQVXUDQFHDQGFRPPRQDUHDPDLQWHQDQFH7KHVHYDULDEOHOHDVHSD\PHQWVDUHQRW LQFOXGHGLQOHDVHSD\PHQWVXVHGWRGHWHUPLQHOHDVHOLDELOLW\DQGDUHUHFRJQL]HGDVYDULDEOH FRVWVZKHQLQFXUUHG

31 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
127(6727+(&2162/,'$7('),1$1&,$/67$7(0(176
)257+(<($56(1'('-81($1'5(67$7('

1RWH:
LEASE COMMITMENTS

1RWH;
SUBSEQUENT EVENTS

(YHQWVVXEVHTXHQWWR-XQHKDYHEHHQHYDOXDWHGWKURXJK2FWREHUWKHGDWH WKDW WKHVHVWDWHPHQWVZHUHDYDLODEOHWREHLVVXHGWRGHWHUPLQHZKHWKHUWKH\VKRXOGEH GLVFORVHGWRNHHSWKHILQDQFLDOVWDWHPHQWVIURPEHLQJPLVOHDGLQJ7KHUHZHUHQRQRWHGHYHQWV WREHGLVFORVHGDWWKLVWLPH
32 Attachment 4
Council Agenda 8-20-2024 Item 3.A

5HVWDWHG
$66(76
&XUUHQW$VVHWV

&DVKDQGFDVKHTXLYDOHQWV

$FFRXQWV5HFHLYDEOH

3UHSDLG([SHQVH

7RWDO&XUUHQW$VVHWV
2WKHU$VVHWV

&DVK3URSHUW\5HVHUYHV

3URSHUW\LQ'HYHORSPHQW/RQJ7HUP&,3
1RWHV5HFHLYDEOH

7RWDO2WKHU$VVHWV
)L[HG$VVHWV
/DQG

%XLOGLQJ,PSURYHPHQWVDQG)L[WXUHV

QHWRIGHSUHFLDWLRQ

$PRUWL]DEOHDVVHWVQHW

7RWDO)L[HG$VVHWV
727$/$66(76
/,$%,/,7,(6$1'1(7$66(76
&XUUHQW/LDELOLWLHV
$FFRXQWV3D\DEOH
$FFUXHG([SHQVHV

6HFXULW\'HSRVLW3D\DEOH

3UHSDLG5HQW

&XUUHQW3RUWLRQRI/RQJ7HUP'HEW

7RWDO&XUUHQW/LDELOLWLHV

/RQJ7HUP'HEW1HWRI&XUUHQW3RUWLRQ

7RWDO/LDELOLWLHV

1HW$VVHWV

727$//,$%,/,7,(6$1'1(7$66(76 3(23/(
66(/)+(/3+286,1*&25325$7,21
&2162/,'$7('6&+('8/(2)),1$1&,$/326,7,21
08/7,)$0,/<3523(57,(6
-81($1'5(67$7('
33 Attachment 4
Council Agenda 8-20-2024 Item 3.A

5HVWDWHG

5HYHQXH
5HQWDO,QFRPHQHW

*DLQRQ6DOHRI&DSLWDO&RQWULEXWLRQ
,QWHUHVW,QFRPH

2WKHU,QFRPH
7RWDO5HYHQXH
([SHQGLWXUHV
3URSHUW\0DQDJHPHQW $GPLQLVWUDWLYH

8WLOLWLHV

5HSDLUVDQG0DLQWHQDQFH
7D[HVDQG,QVXUDQFH

,QWHUHVW([SHQVH
6RFLDO6HUYLFHV

7RWDO([SHQGLWXUHV

1HW,QFRPHEHIRUH'HSUHFLDWLRQDQG$PRUWL]DWLRQ
'HSUHFLDWLRQDQG$PRUWL]DWLRQ

1HW,QFRPH

3(23/(
66(/)+(/3+286,1*&25325$7,21
&2162/,'$7('67$7(0(172)$&7,9,7,(6
08/7,)$0,/<3523(57,(6
)257+(<($5(1'('-81($1'5(67$7('
34 Attachment 4
Council Agenda 8-20-2024 Item 3.A

6833/(0(17$5<&2175$&7,1)250$7,21)25
67$7(2)&$/,)251,$'(3$570(172)
+286,1*$1'&20081,7<'(9(/230(17
)256($+$9(1$3$570(176

35 Attachment 4
Council Agenda 8-20-2024 Item 3.A

36 Attachment 4
Council Agenda 8-20-2024 Item 3.A

37 Attachment 4
Council Agenda 8-20-2024 Item 3.A

38 Attachment 4
Council Agenda 8-20-2024 Item 3.A

39 Attachment 4
Council Agenda 8-20-2024 Item 3.A

40 Attachment 4
Council Agenda 8-20-2024 Item 3.A

41 Attachment 4
Council Agenda 8-20-2024 Item 3.A

42 Attachment 4
Council Agenda 8-20-2024 Item 3.A

43 Attachment 4
Council Agenda 8-20-2024 Item 3.A

44 Attachment 4
Council Agenda 8-20-2024 Item 3.A

6833/(0(17$5<&2175$&7,1)250$7,21)25
67$7(2)&$/,)251,$'(3$570(172)
+286,1*$1'&20081,7<'(9(/230(17
)25&$:(/7,&2857$3$570(176

45 Attachment 4
Council Agenda 8-20-2024 Item 3.A

46 Attachment 4
Council Agenda 8-20-2024 Item 3.A

47 Attachment 4
Council Agenda 8-20-2024 Item 3.A

48 Attachment 4
Council Agenda 8-20-2024 Item 3.A

49 Attachment 4
Council Agenda 8-20-2024 Item 3.A

50 Attachment 4
Council Agenda 8-20-2024 Item 3.A

51 Attachment 4
Council Agenda 8-20-2024 Item 3.A

52 Attachment 4
Council Agenda 8-20-2024 Item 3.A

53 Attachment 4
Council Agenda 8-20-2024 Item 3.A

54 Attachment 4
Council Agenda 8-20-2024 Item 3.A

6833/(0(17$5<&2175$&7,1)250$7,21)25
86'$±585$/'(9(/230(17)253$&,),&9,(:

55 Attachment 4
Council Agenda 8-20-2024 Item 3.A

56 Attachment 4
Council Agenda 8-20-2024 Item 3.A

57 Attachment 4
Council Agenda 8-20-2024 Item 3.A

58 Attachment 4
Council Agenda 8-20-2024 Item 3.A

59 Attachment 4
Council Agenda 8-20-2024 Item 3.A

6833/(0(17$5<&2175$&7,1)250$7,21)25
86'$±585$/'(9(/230(17)25/26$'2%(6
'(0$5,$,
60 Attachment 4
Council Agenda 8-20-2024 Item 3.A

61 Attachment 4
Council Agenda 8-20-2024 Item 3.A

62 Attachment 4
Council Agenda 8-20-2024 Item 3.A

63 Attachment 4
Council Agenda 8-20-2024 Item 3.A

64 Attachment 4
Council Agenda 8-20-2024 Item 3.A

6833/(0(17$5<&2175$&7,1)250$7,21)25
1(,*+%25:25.6$0(5,&$
65 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(
66(/)+(/3+286,1*&25325$7,21
67$7(0(172)$&7,9,7,(6
1(,*+%25:25.6$0(5,&$(;3(1'$%/(*5$176
-XQH
([SHQGDEOH &DSLWDO &DSLWDO &DSLWDO &DSLWDO &DSLWDO &DSLWDO &DSLWDO &DSLWDO 7RWDOV *UDQWV 3URMHFWV 3URMHFWV 3URMHFWV 3URMHFWV 3URMHFWV 3URMHFWV 3URMHFWV 3URMHFWV 73,, *XDG&RXUW /$'0,,, &DPSHU3DUN /$'0,,, ,9/DGHUD$*$ 'HO5LR5LGJH $VVHWV
&DVK

&HUWLILFDWHVRI'HSRVLW 1RWHV5HFHLYDEOH %XLOGLQJ,PSURYHPHQW 7RWDO$VVHWV

/LDELOLWLHVDQG1HW$VVHWV
$FFRXQWV3D\DEOH
7RWDO/LDELOLWLHV 1HW$VVHWV
:LWKRXW'RQRU5HVWULFWLRQV

:LWK'RQRU5HVWULFWLRQV

5HVWULFWHGIRU6SHFLILF3XUSRVHV
1HLJKERUZRUNV$PHULFD&DSLWDO)XQG
7RWDO1HW$VVHWV

7RWDO/LDELOLWLHVDQG1HW$VVHWV

3(23/(
66(/)+(/3+286,1*&25325$7,21
67$7(0(172)$&7,9,7,(6
1(,*+%25:25.6$0(5,&$(;3(1'$%/(*5$176
-XQH
([SHQGDEOH &DSLWDO &DSLWDO &DSLWDO &DSLWDO &DSLWDO &DSLWDO &DSLWDO &DSLWDO 7RWDOV *UDQWV 3URMHFWV 3URMHFWV 3URMHFWV 3URMHFWV 3URMHFWV 3URMHFWV 3URMHFWV 3URMHFWV 73,, *XDG&RXUW /$'0,,, &DPSHU3DUN /$'0,,, ,9/DGHUD$*$ 'HO5LR5LGJH %DODQFHDW%HJLQQLQJRI<HDU

$GGLWLRQV

$SSOLHG

,QWHUHVW(DUQHG

1HW$VVHWV
:LWKRXW'RQRU5HVWULFWLRQV

:LWK'RQRU5HVWULFWLRQV

5HVWULFWHGIRU6SHFLILF3XUSRVHV
1HLJKERUZRUNV$PHULFD&DSLWDO)XQG
1HW$VVHWVDW(QGRI<HDU

,QWHUHVWLQFRPHLQWKHDPRXQWRI
ZDVHDUQHGRQWKHQHWDVVHWVRIWKH1HLJKERUZRUNV$PHULFD*UDQW)XQGVDQGZDVDYDLODEOH IRUXQUHVWULFWHGXVHE\WKH2UJDQL]DWLRQ
66 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(
66(/)+(/3+286,1*&25325$7,21
6&+('8/(2)(;3(1',785(62))('(5$/$:$5'6
)257+(<($5(1'('-81(
)HGHUDO 'LVEXUVHPHQWV
*5$1725 *UDQW1XPEHU &)'$1XPEHU ([SHQGLWXUHV
86'(3$570(172)$*5,&8/785(
Direct:
5XUDO6HOI+HOS+RXVLQJ7HFKQLFDO$VVLVWDQFH 1$ 6XEWRWDO
5XUDO5HQWDO$VVLVWDQFH3D\PHQWV3DFLILF9LHZ 1$ 5XUDO5HQWDO$VVLVWDQFH3D\PHQWV/RV$GREHVGH0DULD 1$ 6XEWRWDO

727$/86'(3$570(172)$*5,&8/785(
86'(3$570(172)+286,1*$1'85%$1'(9(/230(17
Passed through:
&LW\RI9HQWXUD&RPPXQLW\'HYHORSPHQW%ORFN*UDQW(O3DWLR 1$ &LW\RI6DQWD%DUEDUD&RPPXQLW\'HYHORSPHQW%ORFN*UDQW+HDWK+RXVH 1$ &RXQW\RI6DQWD%DUEDUD&RPPXQLW\'HYHORSPHQW%ORFN*UDQW&DUSHQWHULD 1$ &RXQW\RI9HQWXUD&RPPXQLW\'HYHORSPHQW%ORFN*UDQW(O3DWLR 1$
&RXQW\RI6DQ/XLV2ELVSR&RPPXQLW\'HYHORSPHQW%ORFN*UDQW 1$ &RXQW\RI6DQWD%DUEDUD0DULSRVD7RZQKRPHV&RPPXQLW\'HYHORSPHQW%ORFN*UDQW 1$ 6XEWRWDO&'%*(QWLWOHPHQW*UDQWV&OXVWHU Direct:
6XSSRUWLYH+RXVLQJ 0)6&

6XSSRUWLYH+RXVLQJ 0)6&

6XEWRWDO

727$/86'(3$570(172)+286,1*$1'85%$1'(9(/230(17 86'(3$570(172)75($685<
Direct:
1HLJKERU:RUNV$PHULFD2SHUDWLQJ*UDQW([SHQGDEOH 1$

1HLJKERU:RUNV$PHULFD2SHUDWLQJ*UDQW([SHQGDEOH 1$ 1HLJKERU:RUNV$PHULFD2SHUDWLQJ*UDQW([SHQGDEOH 1$ 1HLJKERU:RUNV$PHULFD2SHUDWLQJ*UDQW([SHQGDEOH 1$ 1HLJKERU:RUNV$PHULFD2SHUDWLQJ*UDQW([SHQGDEOH 1$ 1HLJKERU:RUNV$PHULFD2SHUDWLQJ*UDQW([SHQGDEOH 1$ 6XEWRWDO

Passed Through:
&RXQW\RI6DQ/XLV2ELVSR$53$1$
6XEWRWDO
727$/86'(3$570(172)75($685<

727$/(;3(1',785(6

/2$16
86'(3$570(172)$*5,&8/785(
5XUDO5HQWDO+RXVLQJ/RDQV3DFLILF9LHZ

6XEWRWDO

727$/86'(3$570(172)$*5,&8/785(/2$16

67 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(
66(/)+(/3+286,1*&25325$7,21
6&+('8/(2)(;3(1',785(62))('(5$/$:$5'6
)257+(<($5(1'('-81(
)HGHUDO 'LVEXUVHPHQWV
*5$1725 *UDQW1XPEHU &)'$1XPEHU ([SHQGLWXUHV
/2$16&217,18('
86'(3$570(172)+286,1*$1'85%$1'(9(/230(17
&RXQW\RI6DQ/XLV2ELVSR6HD+DYHQ

&LW\RI6DQWD%DUEDUD9LFWRULD+RWHO
&LW\RI6DQWD%DUEDUD/DGHUD

&RXQW\RI6DQWD%DUEDUD'DKOLD&RXUW
&LW\RI$WDVFDGHUR$WDVFDGHUR*DUGHQV
&RXQW\RI6DQWD%DUEDUD(OOZRRG
&LW\RI6DQWD0DULD/'0

&LW\RI$UUR\R*UDQGH&DZHOWL&RXUW

6XEWRWDO &'%*(QWLWOHPHQW*UDQWV&OXVWHU
&RXQW\RI6DQ/XLV2ELVSR6FKRROKRXVH/DQH/DQG

'HSDUWPHQWRI+RXVLQJDQG&RPPXQLW\'HYHORSPHQW6HD+DYHQ

&LW\RI6DQWD%DUEDUD9LFWRULD6WUHHW$SDUWPHQWV
&LW\RI6DQWD%DUEDUD9LFWRULD6WUHHW$SDUWPHQWV
&RXQW\RI6DQ/XLV2ELVSR/D%ULVD

&RXQW\RI6DQ/XLV2ELVSR%UL]]RODUD

&RXQW\RI6DQ/XLV2ELVSR$WDVFDGHUR*DUGHQV

&RXQW\RI6DQWD%DUEDUD'DKOLD&RXUW

&LW\RI6DQWD%DUEDUD9LFWRULD+RWHO

&RXQW\RI6DQWD%DUEDUD(OOZRRG

&LW\RI*ROHWD(OOZRRG

'HSDUWPHQWRI+RXVLQJDQG&RPPXQLW\'HYHORSPHQW&DZHOWL&RXUW
6XEWRWDO

727$/86'(3$570(172)+286,1*$1'85%$1'(9(/230(17/2$16 727$//2$16

727$/(;3(1',785(62))('(5$/$:$5'6

1RWH$
%DVLVRI3UHVHQWDWLRQ
1RWH%
6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
1RWH&
/2$1628767$1',1*
3URJUDP7LWOH &)'$ -XQH -XQH
5XUDO5HQWDO+RXVLQJ/RDQV

&RPPXQLW\'HYHORSPHQW%ORFN*UDQWV(QWLWOHPHQW*UDQWV
+RPH,QYHVWPHQW3DUWQHUVKLSV3URJUDP

7KH DFFRPSDQ\LQJ VFKHGXOH RI H[SHQGLWXUHV RI IHGHUDO DZDUGV WKH 6FKHGXOH
LQFOXGHV WKH IHGHUDO DZDUG DFWLYLW\ RI 3HRSOH
V 6HOI+HOS +RXVLQJ &RUSRUWLRQ
XQGHU SURJUDPV RI WKH IHGHUDO JRYHUQPHQW IRU WKH \HDU HQGHG -XQH 7KH LQIRUPDWLRQ LQ WKLV 6FKHGXOH LV SUHVHQWHG LQ DFFRUGDQFH ZLWK WKH UHTXLUHPHQWV RI 7LWOH 86 &RGH RI )HGHUDO 5HJXODWLRQV 3DUW 8QLIRUP $GPLQLVWUDWLYH 5HTXLUHPHQWV &RVW 3ULQFLSOHV DQG $XGLW 5HTXLUHPHQWV IRU )HGHUDO $ZDUGV
8QLIRUP *XLGDQFH
%HFDXVH WKH 6FKHGXOH SUHVHQWV RQO\ D VHOHFWHG SRUWLRQ RI WKH RSHUDWLRQV RI 3HRSOH V 6HOI+HOS +RXVLQJ &RUSRUDWLRQ LW LVQRW
LQWHQGHGWRDQGGRHVQRWSUHVHQWWKHILQDQFLDOSRVLWLRQFKDQJHVLQQHWDVVHWVRUFDVKIORZVRI3HRSOH V6HOI+HOS+RXVLQJ&RUSRUWLRQ

([SHQGLWXUHV UHSRUWHG RQ WKH 6FKHGXOH DUH UHSRUWHG RQ WKH DFFUXDO EDVL V RI DFFRXQWLQJ 6XFK H[SHQGLWXUHV DUH UHFRJQL]HG IROORZLQJ WKH FRVW SULQFLSOHV FRQWDLQHGLQWKH8QLIRUP*XLGDQFHZKHUHLQFHUWDLQW\SHVRIH[SHQGLWXUHVDUHQRWDOORZDEOHRUDUHOLPLWHGDVWRUHLPEXUVHPHQW

3HRSOH
V6HOI+HOS+RXVLQJ&RUSRUWLRQKDVQRWHOHFWHGWRXVHWKHSHUFHQWGHPLQLPLVLQGLUHFWFRVWUDWHDVDOORZHGXQGHUWKH8QLIRUP*XLGDQFH 7KHIROORZLQJSURJUDPKDGIHGHUDOO\IXQGHGORDQVRXWVWDQGLQJDW-XQH

$PRXQWV2XWVWDQGLQJ
68 Attachment 4
Council Agenda 8-20-2024 Item 3.A

*UDQW%HQQHWW$VVRFLDWHV
$352)(66,21$/&25325$7,21

ZZZJEDFSDFRP
*ROG&HQWHU'ULYH6XLWH
5DQFKR&RUGRYD&$
3ULQFHYLOOH+,

)$;

7RJHWKHUDV2QH*UDQW%HQQHWW$VVRFLDWHVLVD0HPEHURIWKH$OOLRWW*OREDO$OOLDQFHRILQGHSHQGHQWSURIHVVLRQDOILUPV

,1'(3(1'(17$8',725¶65(325721,17(51$/&21752/
29(5),1$1&,$/5(3257,1*$1'21&203/,$1&(
$1'27+(50$77(56%$6('21$1$8',72)
),1$1&,$/67$7(0(1763(5)250(',1$&&25'$1&(
:,7+*29(510(17$8',7,1*67$1'$5'6

%RDUGRI'LUHFWRUV
3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ
6DQ/XLV2ELVSR&DOLIRUQLD

:HKDYHDXGLWHGLQDFFRUGDQFHZLWKWKHDXGLWLQJVWDQGDUGVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHV RI $PHULFD DQG WKH VWDQGDUGV DSSOLFDEOH WR ILQDQFLDO DXGLWV FRQWDLQHG LQGovernment Auditing Standards LVVXHG E\ WKH &RPSWUROOHU *HQHUDO RI WKH 8QLWHG 6WDWHV WKH ILQDQFLDO VWDWHPHQWV RI 3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQZKLFKFRPSULVHWKHVWDWHPHQWRIILQDQFLDOSRVLWLRQDVRI -XQHDQGWKHUHODWHGVWDWHPHQWVRIDFWLYLWLHVIXQFWLRQDOH[SHQVHVDQGFDVKIORZVIRUWKH \HDUWKHQHQGHGDQGWKHUHODWHGQRWHVWRWKHILQDQFLDOVWDWHPHQWVDQGKDYHLVVXHGRXUUHSRUWWKHUHRQ GDWHG2FWREHU

,QWHUQDO&RQWURO2YHU)LQDQFLDO5HSRUWLQJ
,Q SODQQLQJ DQG SHUIRUPLQJ RXU DXGLW RI WKH ILQDQFLDO VWDWHPHQWV ZH FRQVLGHUHG 2UJDQL]DWLRQ¶V LQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJ
LQWHUQDOFRQWURO
WRGHWHUPLQHWKHDXGLWSURFHGXUHVWKDWDUH
DSSURSULDWH LQ WKH FLUFXPVWDQFHV IRU WKH SXUSRVH RI H[SUHVVLQJRXU RSLQLRQV RQ WKH ILQDQFLDO VWDWHPHQWVEXWQRWIRUWKHSXUSRVHRIH[SUHVVLQJDQRSLQLRQRQWKHHIIHFWLYHQHVVRI2UJDQL]DWLRQ¶V LQWHUQDOFRQWURO$FFRUGLQJO\ZHGRQRWH[SUHVVDQRSLQLRQRQWKHHIIHFWLYHQHVVRI2UJDQL]DWLRQ¶V LQWHUQDOFRQWURO

$deficiency in internal controlH[LVWVZKHQWKHGHVLJQRURSHUDWLRQRIDFRQWUROGRHVQRWDOORZ PDQDJHPHQWRUHPSOR\HHVLQWKHQRUPDOFRXUVHRISHUIRUPLQJWKHLUDVVLJQHGIXQFWLRQVWRSUHYHQW RUGHWHFWDQGFRUUHFWPLVVWDWHPHQWVRQDWLPHO\EDVLV$material weaknessLVDGHILFLHQF\RU FRPELQDWLRQRIGHILFLHQFLHVLQLQWHUQDOFRQWUROVXFKWKDWWKHUHLVDUHDVRQDEOHSRVVLELOLW\WKDWD PDWHULDOPLVVWDWHPHQWRIWKHHQWLW\¶VILQDQFLDOVWDWHPHQWVZLOOQRWEH SUHYHQWHGRUGHWHFWHGDQG FRUUHFWHGRQDWLPHO\EDVLV$significant deficiencyLVDGHILFLHQF\RUDFRPELQDWLRQRIGHILFLHQFLHV LQLQWHUQDOFRQWUROWKDWLVOHVVVHYHUHWKDQDPDWHULDOZHDNQHVV\HWLPSRUWDQWHQRXJKWRPHULWDWWHQWLRQ E\WKRVHFKDUJHGZLWKJRYHUQDQFH

2XUFRQVLGHUDWLRQRILQWHUQDOFRQWUROZDVIRUWKHOLPLWHGSXUSRVHGHVFULEHGLQWKHILUVWSDUDJUDSKRI WKLVVHFWLRQDQGZDVQRWGHVLJQHGWRLGHQWLI\DOOGHILFLHQFLHVLQLQWHUQDOFRQWUROWKDWPLJKWEHPDWHULDO ZHDNQHVVHVRUVLJQLILFDQWGHILFLHQFLHV*LYHQWKHVHOLPLWDWLRQVGXULQJRXUDXGLWZHGLGQRWLGHQWLI\ DQ\GHILFLHQFLHVLQLQWHUQDOFRQWUROWKDWZHFRQVLGHUWREHPDWHULDOZHDNQHVVHV+RZHYHUPDWHULDO ZHDNQHVVHVPD\H[LVWWKDWKDYHQRWEHHQLGHQWLILHG
69 Attachment 4
Council Agenda 8-20-2024 Item 3.A

*UDQW%HQQHWW$VVRFLDWHV
$352)(66,21$/&25325$7,21

ZZZJEDFSDFRP
*ROG&HQWHU'ULYH6XLWH
5DQFKR&RUGRYD&$
3ULQFHYLOOH+,

)$;

7RJHWKHUDV2QH*UDQW%HQQHWW$VVRFLDWHVLVD0HPEHURIWKH$OOLRWW*OREDO$OOLDQFHRILQGHSHQGHQWSURIHVVLRQDOILUPV

&RPSOLDQFHDQG2WKHU0DWWHUV
$VSDUWRIREWDLQLQJUHDVRQDEOHDVVXUDQFHDERXWZKHWKHU2UJDQL]DWLRQ¶VILQDQFLDOVWDWHPHQWVDUHIUHH RI PDWHULDO PLVVWDWHPHQW ZH SHUIRUPHGWHVWV RI LWV FRPSOLDQFHZLWK FHUWDLQ SURYLVLRQV RI ODZV UHJXODWLRQVFRQWUDFWVDQGJUDQWDJUHHPHQWVQRQFRPSOLDQFHZLWKZKLFKFRXOGKDYHDGLUHFWDQG PDWHULDOHIIHFWRQWKHGHWHUPLQDWLRQRIILQDQFLDOVWDWHPHQWDPRXQWV+RZHYHUSURYLGLQJDQRSLQLRQ RQFRPSOLDQFHZLWKWKRVHSURYLVLRQVZDVQRWDQREMHFWLYHRIRXUDXGLWDQGDFFRUGLQJO\ZHGRQRW H[SUHVVVXFKDQRSLQLRQ7KHUHVXOWVRIRXUWHVWVGLVFORVHGQRLQVWDQFHVRIQRQFRPSOLDQFHRURWKHU PDWWHUVWKDWDUHUHTXLUHGWREHUHSRUWHGXQGHUGovernment Auditing Standards.
3XUSRVHRIWKLV5HSRUW
7KHSXUSRVHRIWKLVUHSRUWLVVROHO\WRGHVFULEHWKHVFRSHRIRXUWHVWLQJRILQWHUQDOFRQWURODQG FRPSOLDQFHDQGWKHUHVXOWVRIWKDWWHVWLQJDQGQRWWRSURYLGHDQRSLQLRQRQWKHHIIHFWLYHQHVVRIWKH HQWLW\¶VLQWHUQDOFRQWURORURQFRPSOLDQFH7KLVUHSRUWLVDQLQWHJUDOSDUWRIDQDXGLWSHUIRUPHGLQ DFFRUGDQFH ZLWKGovernment Auditing 6WDQGDUGVLQFRQVLGHULQJ WKH HQWLW\¶VLQWHUQDO FRQWURO DQG FRPSOLDQFH$FFRUGLQJO\WKLVFRPPXQLFDWLRQLVQRWVXLWDEOHIRUDQ\RWKHUSXUSRVH

*5$17%(11(77$662&,$7(6
$352)(66,21$/&25325$7,21
&HUWLILHG3XEOLF$FFRXQWDQWV

5DQFKR&RUGRYD&DOLIRUQLD
2FWREHU
70 Attachment 4
Council Agenda 8-20-2024 Item 3.A

*UDQW%HQQHWW$VVRFLDWHV
$352)(66,21$/&25325$7,21

ZZZJEDFSDFRP
*ROG&HQWHU'ULYH6XLWH
5DQFKR&RUGRYD&$
3ULQFHYLOOH+,

)$;

7RJHWKHUDV2QH*UDQW%HQQHWW$VVRFLDWHVLVD0HPEHURIWKH$OOLRWW*OREDO$OOLDQFHRILQGHSHQGHQWSURIHVVLRQDOILUPV

,1'(3(1'(17$8',725¶65(325721&203/,$1&(
)25($&+0$-25352*5$0$1'21,17(51$/ &21752/29(5&203/,$1&(5(48,5('%<
7+(81,)250*8,'$1&(

%RDUGRI'LUHFWRUV
3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ
6DQ/XLV2ELVSR&DOLIRUQLD

5HSRUWRQ&RPSOLDQFHIRU(DFK0DMRU)HGHUDO3URJUDP

2SLQLRQRQ(DFK0DMRU)HGHUDO3URJUDP
:HKDYHDXGLWHG3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ¶VFRPSOLDQFHZLWKWKHW\SHVRIFRPSOLDQFH UHTXLUHPHQWVGHVFULEHGLQWKHOMB Compliance Supplement WKDWFRXOGKDYHDGLUHFWDQGPDWHULDOHIIHFW RQHDFKRI3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ¶VPDMRUIHGHUDOSURJUDPVIRUWKH\HDUHQGHG-XQH 3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ¶VPDMRUIHGHUDOSURJUDPVDUHLGHQWLILHGLQWKHVXPPDU\RI DXGLWRU¶VUHVXOWVVHFWLRQRIWKHDFFRPSDQ\LQJVFKHGXOHRIILQGLQJVDQGTXHVWLRQHGFRVWV
,QRXURSLQLRQ3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQFRPSOLHGLQDOOPDWHULDOUHVSHFWVZLWKWKHW\SHV RIFRPSOLDQFHUHTXLUHPHQWVUHIHUUHGWRDERYHWKDWFRXOGKDYHDGLUHFWDQGPDWHULDOHIIHFWRQHDFKRILWV PDMRUIHGHUDOSURJUDPVIRUWKH\HDUHQGHG-XQH
%DVLVIRU2SLQLRQRQ(DFK0DMRU)HGHUDO3URJUDP
:HFRQGXFWHGRXUDXGLWRIFRPSOLDQFHLQDFFRUGDQFHZLWKDXGLWLQJVWDQGDUGVJHQHUDOO\DFFHSWHGLQWKH 8QLWHG6WDWHVRI$PHULFD
WKHVWDQGDUGVDSSOLFDEOHWRILQDQFLDODXGLWVFRQWDLQHGLQ*RYHUQPHQW$XGLWLQJ 6WDQGDUGVLVVXHGE\WKH&RPSWUROOHU*HQHUDORIWKH8QLWHG6WDWHV DQGWKHDXGLWUHTXLUHPHQWVRI7LWOH
86&RGHRI)HGHUDO5HJXODWLRQV3DUW8QLIRUP$GPLQLVWUDWLYH5HTXLUHPHQWV&RVW3ULQFLSOHVDQG $XGLW5HTXLUHPHQWVIRU)HGHUDO$ZDUGV
8QLIRUP*XLGDQFH
2XUUHVSRQVLELOLWLHVXQGHUWKRVHVWDQGDUGV
DQG WKH 8QLIRUP *XLGDQFH DUH IXUWKHU GHVFULEHG LQ WKH $XGLWRU V 5HVSRQVLELOLWLHV IRU WKH $XGLW RI
&RPSOLDQFHVHFWLRQRIRXUUHSRUW

:HDUHUHTXLUHGWREHLQGHSHQGHQWRIWKH3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQDQGWRPHHWRXURWKHU HWKLFDOUHVSRQVLELOLWLHVLQDFFRUGDQFHZLWKUHOHYDQWHWKLFDOUHTXLUHPHQWVUHODWLQJWRRXUDXGLW:HEHOLHYH WKDWWKHDXGLWHYLGHQFHZHKDYHREWDLQHGLVVXIILFLHQWDQGDSSURSULDWHWRSURYLGHDEDVLVIRURXURSLQLRQ RQFRPSOLDQFHIRUHDFKPDMRUIHGHUDOSURJUDP2XUDXGLWGRHVQRWSURYLGHDOHJDOGHWHUPLQDWLRQRI 3HRSOH¶V 6HOI+HOS +RXVLQJ &RUSRUDWLRQ¶V FRPSOLDQFH ZLWK WKH FRPSOLDQFH UHTXLUHPHQWV UHIHUUHG WR DERYH

5HVSRQVLELOLWLHVRI0DQDJHPHQWIRU&RPSOLDQFH
0DQDJHPHQWLVUHVSRQVLEOHIRUFRPSOLDQFHZLWKWKHUHTXLUHPHQWVUHIHUUHGWRDERYHDQGIRUWKHGHVLJQ LPSOHPHQWDWLRQDQGPDLQWHQDQFHRIHIIHFWLYHLQWHUQDOFRQWURORYHUFRPSOLDQFHZLWKWKHUHTXLUHPHQWVRI ODZVVWDWXWHVUHJXODWLRQVUXOHVDQGSURYLVLRQVRIFRQWUDFWVRUJUDQWDJUHHPHQWVDSSOLFDEOHWR3HRSOH¶V 6HOI+HOS+RXVLQJ&RUSRUDWLRQ
VIHGHUDOSURJUDPV

71 Attachment 4
Council Agenda 8-20-2024 Item 3.A

*UDQW%HQQHWW$VVRFLDWHV
$352)(66,21$/&25325$7,21

ZZZJEDFSDFRP
*ROG&HQWHU'ULYH6XLWH
5DQFKR&RUGRYD&$
3ULQFHYLOOH+,

)$;

7RJHWKHUDV2QH*UDQW%HQQHWW$VVRFLDWHVLVD0HPEHURIWKH$OOLRWW*OREDO$OOLDQFHRILQGHSHQGHQWSURIHVVLRQDOILUPV

$XGLWRU
V5HVSRQVLELOLWLHVIRUWKH$XGLWRI&RPSOLDQFH
2XU REMHFWLYHV DUH WR REWDLQ UHDVRQDEOH DVVXUDQFH DERXW ZKHWKHU PDWHULDO QRQFRPSOLDQFH ZLWK WKH FRPSOLDQFHUHTXLUHPHQWVUHIHUUHGWRDERYHRFFXUUHGZKHWKHUGXHWRIUDXGRUHUURUDQGWRH[SUHVVDQ RSLQLRQ RQ 3HRSOH¶V 6HOI+HOS +RXVLQJ &RUSRUDWLRQ
V FRPSOLDQFHEDVHG RQ RXU DXGLW 5HDVRQDEOH
DVVXUDQFHLVDKLJKOHYHORIDVVXUDQFHEXWLVQRWDEVROXWHDVVXUDQFHDQGWKHUHIRUHLVQRWDJXDUDQWHHWKDW DQ DXGLWFRQGXFWHGLQDFFRUGDQFHZLWKJHQHUDOO\DFFHSWHG DXGLWLQJ VWDQGDUGVGovernment Auditing StandardsDQGWKH8QLIRUP*XLGDQFHZLOODOZD\VGHWHFWPDWHULDOQRQFRPSOLDQFHZKHQLWH[LVWV7KHULVN RIQRWGHWHFWLQJPDWHULDOQRQFRPSOLDQFHUHVXOWLQJIURPIUDXGLVKLJKHUWKDQIRUWKDWUHVXOWLQJIURPHUURUDV IUDXGPD\LQYROYHFROOXVLRQIRUJHU\LQWHQWLRQDORPLVVLRQVPLVUHSUHVHQWDWLRQVRUWKHRYHUULGHRILQWHUQDO FRQWURO1RQFRPSOLDQFHZLWK WKH UHTXLUHPHQWVUHIHUUHG WR DERYHLVFRQVLGHUHGPDWHULDOLIWKHUHLVD VXEVWDQWLDOOLNHOLKRRGWKDWLQGLYLGXDOO\RULQWKHDJJUHJDWHLWZRXOGLQIOXHQFHWKHMXGJPHQWPDGHE\D UHDVRQDEOHXVHURIWKHUHSRUWRQFRPSOLDQFHDERXW3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ VFRPSOLDQFH
ZLWKWKHUHTXLUHPHQWVRIHDFKPDMRUIHGHUDOSURJUDPDVDZKROH
,QSHUIRUPLQJDQDXGLWLQDFFRUGDQFHZLWKJHQHUDOO\DFFHSWHGDXGLWLQJVWDQGDUGVGovernment Auditing StandardsDQGWKH8QLIRUP*XLGDQFHZH

x ([HUFLVHSURIHVVLRQDOMXGJPHQWDQGPDLQWDLQSURIHVVLRQDOVNHSWLFLVPWKURXJKRXWWKHDXGLW
x ,GHQWLI\DQGDVVHVVWKHULVNVRIPDWHULDOQRQFRPSOLDQFHZKHWKHUGXHWRIUDXGRUHUURUDQGGHVLJQ DQGSHUIRUPDXGLWSURFHGXUHVUHVSRQVLYHWRWKRVHULVNV6XFKSURFHGXUHVLQFOXGHH[DPLQLQJRQ DWHVWEDVLVHYLGHQFHUHJDUGLQJ3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ VFRPSOLDQFHZLWKWKH
FRPSOLDQFH UHTXLUHPHQWV UHIHUUHG WR DERYH DQG SHUIRUPLQJ VXFK RWKHU SURFHGXUHV DV ZH FRQVLGHUHGQHFHVVDU\LQWKHFLUFXPVWDQFHV

x 2EWDLQ DQ XQGHUVWDQGLQJ RI 3HRSOH¶V 6HOI+HOS +RXVLQJ &RUSRUDWLRQ V LQWHUQDO FRQWURO RYHU
FRPSOLDQFHUHOHYDQWWRWKHDXGLWLQRUGHUWRGHVLJQDXGLWSURFHGXUHVWKDWDUHDSSURSULDWHLQWKH FLUFXPVWDQFHVDQGWRWHVWDQGUHSRUWRQLQWHUQDOFRQWURORYHUFRPSOLDQFHLQDFFRUGDQFHZLWKWKH 8QLIRUP*XLGDQFHEXWQRWIRUWKHSXUSRVHRIH[SUHVVLQJDQRSLQLRQRQWKHHIIHFWLYHQHVVRIWKH 3HRSOH¶V6HOI+HOS+RXVLQJ&RUSRUDWLRQ
VLQWHUQDOFRQWURORYHUFRPSOLDQFH$FFRUGLQJO\QRVXFK RSLQLRQLVH[SUHVVHG

:HDUHUHTXLUHGWRFRPPXQLFDWHZLWKWKRVHFKDUJHGZLWKJRYHUQDQFHUHJDUGLQJDPRQJRWKHUPDWWHUV WKHSODQQHGVFRSHDQGWLPLQJRIWKHDXGLWDQGDQ\VLJQLILFDQWGHILFLHQFLHVDQGPDWHULDOZHDNQHVVHVLQ LQWHUQDOFRQWURORYHUFRPSOLDQFHWKDWZHLGHQWLILHGGXULQJWKHDXGLW
5HSRUWRQ,QWHUQDO&RQWURO2YHU&RPSOLDQFH
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ttachment 4
Council Agenda 8-20-2024 Item 3.A

*UDQW%HQQHWW$VVRFLDWHV
$352)(66,21$/&25325$7,21

ZZZJEDFSDFRP
*ROG&HQWHU'ULYH6XLWH
5DQFKR&RUGRYD&$
3ULQFHYLOOH+,

)$;

7RJHWKHUDV2QH*UDQW%HQQHWW$VVRFLDWHVLVD0HPEHURIWKH$OOLRWW*OREDO$OOLDQFHRILQGHSHQGHQWSURIHVVLRQDOILUPV

RIFRPSOLDQFHUHTXLUHPHQWRIDIHGHUDOSURJUDPWKDWLVOHVVVHYHUHWKDQDPDWHULDOZHDNQHVVLQLQWHUQDO FRQWURORYHUFRPSOLDQFH\HWLPSRUWDQWHQRXJKWRPHULWDWWHQWLRQE\WKRVHFKDUJHGZLWKJRYHUQDQFH
2XUFRQVLGHUDWLRQRILQWHUQDOFRQWURORYHUFRPSOLDQFHZDVIRUWKHOLPLWHGSXUSRVHGHVFULEHGLQWKH$XGLWRU V
5HVSRQVLELOLWLHVIRUWKH$XGLWRI&RPSOLDQFHVHFWLRQDERYHDQGZDVQRWGHVLJQHGWRLGHQWLI\DOOGHILFLHQFLHV LQLQWHUQDOFRQWURORYHUFRPSOLDQFHWKDWPLJKWEHPDWHULDOZHDNQHVVHVRUVLJQLILFDQWGHILFLHQFLHVLQLQWHUQDO FRQWURORYHUFRPSOLDQFH*LYHQWKHVHOLPLWDWLRQVGXULQJRXUDXGLWZHGLGQRWLGHQWLI\DQ\GHILFLHQFLHVLQ LQWHUQDOFRQWURORYHUFRPSOLDQFHWKDWZHFRQVLGHUWREHPDWHULDOZHDNQHVVHVDVGHILQHGDERYH+RZHYHU PDWHULDOZHDNQHVVHVRUVLJQLILFDQWGHILFLHQFLHVPD\H[LVWWKDWZHUHQRWLGHQWLILHG
2XUDXGLWZDVQRWGHVLJQHGIRUWKHSXUSRVHRIH[SUHVVLQJDQRSLQLRQRQWKHHIIHFWLYHQHVVRILQWHUQDOFRQWURO RYHUFRPSOLDQFH$FFRUGLQJO\QRVXFKRSLQLRQLVH[SUHVVHG
7KHSXUSRVHRIWKLVUHSRUWRQLQWHUQDOFRQWURORYHUFRPSOLDQFHLVVROHO\WRGHVFULEHWKHVFRSHRIRXUWHVWLQJ RILQWHUQDOFRQWURORYHUFRPSOLDQFHDQGWKHUHVXOWVRIWKDWWHVWLQJEDVHGRQWKHUHTXLUHPHQWVRIWKH8QLIRUP *XLGDQFH$FFRUGLQJO\WKLVUHSRUWLVQRWVXLWDEOHIRUDQ\RWKHUSXUSRVH *5$17%(11(77$662&,$7(6
$352)(66,21$/&25325$7,21
&HUWLILHG3XEOLF$FFRXQWDQWV

5DQFKR&RUGRYD&DOLIRUQLD
2FWREHU
73 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
6&+('8/(2)),1',1*6$1'48(67,21('&2676
)257+(<($5(1'('-81(

$ 6800$5<2)$8',725¶65(68/76
Financial Statements
7\SHRI$XGLW5HSRUW,VVXHG

8102',),('
,QWHUQDO&RQWURO2YHU)LQDQFLDO5HSRUWLQJ

0DWHULDO:HDNQHVV
HV
,GHQWLILHG
6LJQLILFDQW'HILFLHQF\
LHV
,GHQWLILHG

121(
121(5(3257('
1RQFRPSOLDQFH0DWHULDOWR)LQDQFLDO6WDWHPHQWV

121(5(3257('
Federal Awards
,QWHUQDO&RQWURO2YHU0DMRU3URJUDPV

0DWHULDO:HDNQHVV
HV
,GHQWLILHG
6LJQLILFDQW'HILFLHQF\
LHV
,GHQWLILHG

121(
121(5(3257('
7\SHRI$XGLWRU¶V5HSRUW,VVXHGRQ&RPSOLDQFH
IRU0DMRU3URJUDPV

8102',),('
8QLIRUP*XLGDQFH$XGLW)LQGLQJ
'LVFORVHGE\$XGLW
121(5(3257('

0DMRU3URJUDPV

±+20(,QYHVWPHQW
3DUWQHUVKLSV3URJUDP

'ROODU7KUHVKROGIRU7\SH$3URJUDPV

$XGLWHH4XDOLILFDWLRQ

/2:5,6.
% )LQGLQJV5HODWLQJWRWKH)LQDQFLDO6WDWHPHQWVZKLFK DUH5HTXLUHGWREH5HSRUWHGLQ$FFRUGDQFHZLWK
*$*$6

121(5(3257('

& )LQGLQJVDQG4XHVWLRQHG&RVWVIRU)HGHUDO$ZDUGV
,QFOXGLQJ$XGLW)LQGLQJV'HILQHGLQ
WKH8QLIRUP*XLGDQFH

121(5(3257('

74 Attachment 4
Council Agenda 8-20-2024 Item 3.A

3(23/(¶66(/)+(/3+286,1*&25325$7,21
6800$5<6&+('8/(2)35,25$8',7),1',1*6
)257+(<($5(1'('-81(

7KHUHZHUHQRSULRU\HDUILQGLQJV

75 Attachment 4
Council Agenda 8-20-2024 Item 3.A

OrganizaƟon: Pismo Beach Chamber of Commerce
Requested Funding: 25000
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: The Pismo Beach Chamber strives to be a valuable partner to the City in developing programs that will help our business community thrive, engage our residents, and promote the Pismo Beach Experience to aƩract tourism.

These programs beneﬁt the City in a mulƟtude of ways.

1. The Summer Market - through the funding received we have been able to increase our musical entertainment and hire a Market Manager to ensure the proper running of the Market.

We invested in re-usable market bags that were passed out into the community promoƟng both the City and the Chamber.

2. The Leadership Sponsorship helps to support the Chamber's administraƟve iniƟaƟves.

Funds have been used to secure a ﬁscal review process that includes the hiring of a Compliance Manager and CPA to provide a monthly audit of all ﬁnancial transacƟons and reconciliaƟon of expenses.

3. Christmas by the Sea (formerly Classic California Christmas) last year monies were used to offset the costs of the materials for the Surĩoard DecoraƟng contest. This year the monies will be used speciﬁcally to create a shop local incenƟve.

Support Fiscal 2024 & 2025 City Goals: We believe that the events we have will Ɵe directly into maintain our small beach town charm. By engaging directly with residents and visitors, we help them feel welcome and part of our city.

We also believe that we help in the promoƟon of tourism within our city. With our Summer Market we provide a warm and inviƟng place for visitors to meet local vendors and shop for unique items. In addiƟon, to the speciﬁc events we are seeking funding, our Taste of Pismo event brings hundreds of guests from out of the area to engage in this unique tasƟng event.

By engaging locals and visitors the Pismo Beach Chamber is a valuable partner with the City to help our city prosper.

Priority of Needs: Our largest expense is the Pismo Summer Market. This would be the highest priority on our list.

Fiscal Year 2025 Outside Agency Request
Attachment 4
Council Agenda 8-20-2024 Item 3.A

Program DescripƟon: The Pismo Beach Chamber provides support to local businesses and our community through engagement and involvement. Our request will help fund three speciﬁc areas of our Chamber.

1. Pismo Summer Market - weekly market in the Pier Plaza that runs from the end of May to the beginning of September. Funds alloƩed for this program will go to offset the costs of the Market Manager and musical entertainment.

2. Pismo Beach Chamber Leadership Sponsorship - this annual sponsorship allows the Chamber and City to conƟnue to partner in special community events to engage our residents and visitors, along with promoƟng our business community. Monies for this sponsorship are used for the daily operaƟons of the chamber.

3. Christmas by the Sea - this promoƟon helps to promote Pismo Beach as the place to be for your holiday. Monies for this program will go to fund a shop local promoƟon and events.

Point of Contact: JeaneƩe Vierra
Attachment 4
Council Agenda 8-20-2024 Item 3.A

Attachment 4
Council Agenda 8-20-2024 Item 3.A

OrganizaƟon: SHOWER THE PEOPLE
Requested Funding: 7,500
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: According to the last data from 2022's Point in Time Count of the homeless, there were 1,448 homeless in our County and 80% of them were unsheltered. The unsheltered frequently move around our Central Coast area due to a number of circumstances. Our area has a lack of free public showers available for the unsheltered to use. STP believes that the ability to take a regular shower offers a health beneﬁt, improves an individuals appearance and liŌs an individuals outlook on life. All of these allow individuals to more comfortably access the many homeless services available in our community.

Support Fiscal 2024 & 2025 City Goals: One of the City of Pismo Beach's goals is to invest in homelessness assistance projects. STP offers free showers 5 days a week at 5 locaƟons, rain or shine. Our program ﬁlls a need for free access to a public shower for the unhoused.

Priority of Needs: Our shower operaƟons depend on the maintenance and upkeep of our shower trailer and van.

Program DescripƟon: Shower the People's (STP) mission is to provide access to a free hot shower to the homeless in our community. STP's shower program started in 2017 at our site in Grover Beach. We've added addiƟonal sites as the need has increased and currently we have 5 acƟve sites both in San Luis and in Grover Beach. Last year we provided 7,321 showers. Since incepƟon Shower the People has provided 23,000 showers to the homeless in our community.

STP is an all-volunteer organizaƟon with 30+ volunteers and a 9 member Board which includes a local Doctor, hospital administrator, a member of the clergy and a mental health administrator. 100% of the funding from this Grant will go to our operaƟons: shower trailer and van maintenance, gas, propane, supplies (each shower guest gets a pair of new boxers, socks, t-shirt, toothpaste/toothbrush, comb, hand saniƟzer), cleaning supplies and insurance coverage.

Point of Contact: Gwen Watkins

Fiscal Year 2025 Outside Agency Request
Attachment 4
Council Agenda 8-20-2024 Item 3.A

SHOWER THE PEOPLE
Statement of Financial Position
As of December 31, 2023
Cash Basis Monday, January 29, 2024 05:48 PM GMT-07:00 1/1 TOTAL
ASSETS
Current Assets
Bank Accounts
1000 Pacific Premier - Daily Operations 64,330.85
1050 Pacific Premier CD (9 mo. 4.25%)52,097.48
1060 Pacific Premier CD (7Mo. 4.25%)52,030.29
1070 1070 Pacific Premier CD (9 Mo. 4.75%)51,445.00
1080 Pacific Premier CD (7 Mo.)50,605.23
1100 Pacific Premier - Vehicle / Trailer Reserve Funds 67,692.46 1400 QuickBooks Checking Account 0.00
TTotall Bankk Accounts $$338,201.31
TTotall Currentt Assets $$338,201.31
Fixed Assets
6000 Mobile Shower Unit - Rich Trailers 41,769.46
6001 2018 Chev Express Van VIN 25880 25,157.95
6007 Accum depr -54,367.00
TTotall Fixedd Assets $$12,560.41
TTOTALL ASSETS $$350,761.72

LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Credit Cards
Daily Maintenance - Rick (2875)0.00
Daily Operations - Gary (8565)127.62
TTotall Creditt Cards $$127.62
Other Current Liabilities
suspense 0.00
TTotall Otherr Currentt Liabilities $$0.00
TTotall Currentt Liabilities $$127.62
TTotall Liabilities $$127.62
Equity
Prior Years Equity 257,876.04
Net Revenue 92,758.06
TTotall Equity $$350,634.10
TTOTALL LIABILITIESS ANDD EQUITY $$350,761.72
Attachment 4
Council Agenda 8-20-2024 Item 3.A

OrganizaƟon: San Luis Obispo County Housing Trust Fund Requested Funding: 5000
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: This request is being made to cover a small porƟon of our $932,000 annual operaƟng budget. The requested funds will be combined with funds from other sources to pay a porƟon of our operaƟng and lending expenses. Without sufficient operaƟng revenues, we cannot provide ﬁnancing or technical assistance to our communiƟes.

Our operaƟng costs have increased due to higher interest rates, inﬂaƟon, in the increase in our loan volume.

The primary beneﬁt to the city of supporƟng the SLOCHTF is that we Ɵrelessly work to increase the supply of affordable housing in Pismo Beach and throughout the county, beneﬁƫng the many workforce employees in Pismo Beach who both live in and outside of city limits. We also provide technical assistance to your Community Development Department on housing policies and programs.

Support Fiscal 2024 & 2025 City Goals: The requested funds will directly help the city achieve its goals related to HOUSING, speciﬁcally, increasing the supply of affordable housing. The SLOCHTF service area is limited to the County of SLO and fosters a regional and collaboraƟve approach to fulﬁll its mission. We are proud to partner with the city of Pismo Beach in this endeavor.

Priority of Needs: Our Loan Fund: We conƟnue to have very strong demand for our loans that ﬁnance affordable housing units. Every dollar we bring in adds to our loan fund and allows us to lend that much more.

Program DescripƟon: The SLOCHTF (San Luis Obispo County Housing Trust Fund) is a 501C3 Nonproﬁt Community Revolving Loan Fund with the mission of increasing the supply of affordable housing within SLO County. We fulﬁll our mission by providing ﬁnancing and technical assistance for affordable housing developments.

Since our founding in 2003, our local lending acƟvity has been robust: we have closed 65 loans totaling over $40 million creaƟng or preserving over 1650 affordable housing units in our county. In Pismo Beach, we funded the Pismo Terrace development resulƟng in 50 units of affordable housing.

Our loans have contributed to over $400 million of economic acƟvity via affordable housing development throughout SLO County.

Point of Contact: Jeff Eckles
Fiscal Year 2025 Outside Agency Request

Attachment 4
Council Agenda 8-20-2024 Item 3.A

7RWDO
,QFRPH
'RQDWLRQV
0LUDFOH

7RWDO'RQDWLRQV
5HQWDOLQFRPH
8QFDWHJRUL]HG,QFRPH
*UDQW0RQH\

OrganizaƟon: San Luis Obispo County YMCA
Requested Funding: 4000
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: Access to safe and affordable childcare conƟnues to be a criƟcal need for families in the City of Pismo Beach. When enrolled in Y enrichment programs, working families can feel secure knowing that their child not only has a safe place to go, but that they are educated and supported. We provide a safe environment for children to conƟnue learning aŌer the school day ends.

Requested funds will help support low-income families aƩending YMCA programs in the City of Pismo Beach, including day camps, sports, and before- and aŌer-school programs. All funds directly pay for ﬁnancial aid scholarships and subsidize the costs incurred for providing our programs.

Support Fiscal 2024 & 2025 City Goals: As part of the 2024-25 city goals, the San Luis Obispo County YMCA is commiƩed to helping to improve and support the quality of life for the residents of the City of Pismo Beach.

Priority of Needs: In the City of Pismo Beach, our greatest funding need is to subsidize the cost for our youth programs.

Program DescripƟon: In San Luis Obispo County, the Y has been commiƩed for over 65 years in helping to serve and support the greater City of Pismo Beach community by providing life-changing programs and services. Families from Pismo Beach parƟcipate in our aŌer-school programs, summer camps, and sports programs.

We partner with families to offer homework support, healthy snacks, physical ac Ɵvity such as games and sports, arts, science, and plenty of opportuniƟes to try new things and make great friends.

Within our aŌer-school programs and day camps, we integrate our newly developed SCALED learning curriculum (STEM, Career Connected Learning, hands-on Arts, Literacy, EducaƟon, Diversity and Global Learning) to help kids grow in the classroom and out in the world. We also include our Social-EmoƟonal program to help kids develop emoƟonal intelligence skills like self-awareness, self- management, empathy, and cooperaƟon. And we apply our Healthy EaƟng and Physical AcƟvity (HEPA) programs to build a healthier future for the children in the community by creaƟng an environment rich in opportuniƟes for healthy eaƟng and physical acƟvity. And as summer approaches, the Y conƟnues to ﬁll the childcare gap through our summer camp programs.

The Y offers a variety of safe and fun sports camps and leagues, including Futsal (indoor soccer) and Basketball. AddiƟonally, BiƩy Sports invites parent parƟcipaƟon, emphasizing parent-child relaƟonship building, along with basic sports play. Y sports programs not only focus on skills, but character development, and insƟlling the values of respect, trustworthiness, responsibility, fairness, Fiscal Year 2025 Outside Agency Request
Attachment 4
Council Agenda 8-20-2024 Item 3.A

and caring. Youth sports programs promote healthy development, encourage self-esteem and posiƟve peer interacƟon, along with growing sportsmanship and teamwork.

The Y is commiƩed to being an affordable, inclusive, and accessible opƟon for all families. At the Y, no one is turned away for lack of ability to pay. People of all ages, backgrounds, abiliƟes, and incomes can apply for ﬁnancial aid scholarships. QualiﬁcaƟon is based upon family size, household income level, type of program chosen, and other extenuaƟng circumstances. Through this program, individuals and families who apply typically receive 25%-50% off of program fees, and up to 100% off for families in crisis.

Point of Contact: Douglas Trawick
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF

)LQDQFLDO6WDWHPHQWV

'HFHPEHUDQG
Attachment 4
Council Agenda 8-20-2024 Item 3.A

&217(176

3DJH
V

,QGHSHQGHQW$XGLWRUV¶5HSRUWRQWKH)LQDQFLDO6WDWHPHQWV
)LQDQFLDO6WDWHPHQWV

6WDWHPHQWVRIILQDQFLDOSRVLWLRQ
6WDWHPHQWVRIDFWLYLWLHVDQGFKDQJHVLQQHWDVVHWV 6WDWHPHQWVRIIXQFWLRQDOH[SHQVHV
6WDWHPHQWVRIFDVKIORZV

1RWHVWRILQDQFLDOVWDWHPHQWV

,QGHSHQGHQW$XGLWRUV¶5HSRUWRQWKH6XSSOHPHQWDU\,QIRUPDWLRQ

6FKHGXOHVRISURJUDPVHUYLFHH[SHQVHV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

Attachment 4
Council Agenda 8-20-2024 Item 3.A

$66(76
&XUUHQW$VVHWV
&DVKDQGFDVKHTXLYDOHQWV

,QYHVWPHQWVFHUWLILFDWHVRIGHSRVLWV $FFRXQWVUHFHLYDEOHQHWRIDOORZDQFHIRUGRXEWIXO
DFFRXQWVRI
DQG

3URPLVHVWRJLYHUHFHLYDEOHQHWRIDOORZDQFHIRUGRXEWIXO SURPLVHVRIDQG 3URPLVHWRJLYHODQGOHDVHUHFHLYDEOHFXUUHQW &RQWUDFWVDQGJUDQWVUHFHLYDEOH

3UHSDLGH[SHQVHV

7RWDOFXUUHQWDVVHWV /RQJWHUP$VVHWV
3URPLVHWRJLYHUHFHLYDEOHVOHVVFXUUHQWSRUWLRQ 3URPLVHWRJLYHODQGOHDVHUHFHLYDEOHOHVVFXUUHQWSRUWLRQ 3URSHUW\DQGHTXLSPHQWQHWRIDFFXPXODWHGGHSUHFLDWLRQ
7RWDOORQJWHUPDVVHWV

7RWDODVVHWV

See Notes to Financial Statements.
6DQ/XLV2ELVSR&RXQW\<0&$,QF
6WDWHPHQWVRI)LQDQFLDO3RVLWLRQ
'HFHPEHUDQG
Attachment 4
Council Agenda 8-20-2024 Item 3.A

/,$%,/,7,(6$1'1(7$66(76
&XUUHQW/LDELOLWLHV
$FFRXQWVSD\DEOH

$FFUXHGFRPSHQVDWLRQ 'HIHUUHGUHYHQXH

)LQDQFHOHDVHOLDELOLWLHVFXUUHQWSRUWLRQ
7RWDOFXUUHQWOLDELOLWLHV

)LQDQFHOHDVHOLDELOLWLHVOHVVFXUUHQWSRUWLRQ 7RWDOOLDELOLWLHV

&RPPLWPHQWVDQG&RQWLQJHQFLHV
1HW$VVHWV
:LWKRXWGRQRUUHVWULFWLRQV
%RDUGGHVLJQDWHGFDSLWDOIXQG ,QYHVWHGLQSURSHUW\DQGHTXLSPHQW

8QGHVLJQDWHGLQFOXGLQJRSHUDWLQJUHVHUYH 7RWDOZLWKRXWGRQRUUHVWULFWLRQV

:LWKGRQRUUHVWULFWLRQV
3XUSRVHUHVWULFWLRQV

5HVWULFWHGIRUFDSLWDOH[SHQGLWXUHV

7LPHUHVWULFWHGIRUIXWXUHSHULRGV 7RWDOZLWKGRQRUUHVWULFWLRQV 7RWDOQHWDVVHWV
7RWDOOLDELOLWLHVDQGQHWDVVHWV

See Notes to Financial Statements.
6DQ/XLV2ELVSR&RXQW\<0&$,QF
6WDWHPHQWVRI)LQDQFLDO3RVLWLRQ&RQWLQXHG
'HFHPEHUDQG
Attachment 4
Council Agenda 8-20-2024 Item 3.A

:LWKRXW'RQRU :LWK'RQRU
5HVWULFWLRQV 5HVWULFWLRQV 7RWDO
3XEOLF6XSSRUWDQG5HYHQXH

Public support:
&RQWULEXWLRQV *RYHUQPHQWJUDQWVDQGFRQWUDFWV
VWDWHDQGORFDO ,QNLQGFRQWULEXWLRQV
IDFLOLWLHVDQGVHUYLFHV

7RWDOSXEOLFVXSSRUW

Revenue:
3URJUDPIHHV 0HPEHUVKLSIHHV

2WKHULQFRPH 7RWDOUHYHQXH 1HWDVVHWVUHOHDVHGIURPUHVWULFWLRQV

7RWDOSXEOLFVXSSRUWDQGUHYHQXHV

)XQFWLRQDO([SHQVHV

3URJUDPVHUYLFHV

0DQDJHPHQWDQGJHQHUDO )XQGUDLVLQJ 7RWDOIXQFWLRQDOH[SHQVHV

&KDQJHLQQHWDVVHWV

1HWDVVHWVEHJLQQLQJRI\HDU

1HWDVVHWVHQGRI\HDU

See Notes to Financial Statements.
6DQ/XLV2ELVSR&RXQW\<0&$,QF
6WDWHPHQWRI$FWLYLWLHVDQG&KDQJHVLQ1HW$VVHWV
<HDU(QGHG'HFHPEHU
Attachment 4
Council Agenda 8-20-2024 Item 3.A

:LWKRXW'RQRU :LWK'RQRU
5HVWULFWLRQV 5HVWULFWLRQV 7RWDO
3XEOLF6XSSRUWDQG5HYHQXH

Public support:
&RQWULEXWLRQV

*RYHUQPHQWJUDQWVDQGFRQWUDFWV
VWDWHDQGORFDO *RYHUQPHQWJUDQWIHGHUDO333IXQGV *RYHUQPHQWJUDQWSD\UROOWD[FUHGLWV

,QNLQGFRQWULEXWLRQV

7RWDOSXEOLFVXSSRUW
Revenue:
3URJUDPIHHV 0HPEHUVKLSIHHV 2WKHULQFRPH 7RWDOUHYHQXH 1HWDVVHWVUHOHDVHGIURPUHVWULFWLRQV

7RWDOSXEOLFVXSSRUWDQGUHYHQXHV
)XQFWLRQDO([SHQVHV

3URJUDPVHUYLFHV

0DQDJHPHQWDQGJHQHUDO )XQGUDLVLQJ 7RWDOIXQFWLRQDOH[SHQVHV &KDQJHLQQHWDVVHWV
1HWDVVHWVEHJLQQLQJRI\HDU

1HWDVVHWVHQGRI\HDU

See Notes to Financial Statements.
6DQ/XLV2ELVSR&RXQW\<0&$,QF
6WDWHPHQWRI$FWLYLWLHVDQG&KDQJHVLQ1HW$VVHWV
<HDU(QGHG'HFHPEHU
Attachment 4
Council Agenda 8-20-2024 Item 3.A

3URJUDP 0DQDJHPHQW
6HUYLFHV DQG*HQHUDO )XQGUDLVLQJ 7RWDO
3HUVRQQHOFRVWV

6DODULHVDQGZDJHV

(PSOR\HHEHQHILWV

3D\UROOWD[HV

7RWDOSHUVRQQHOFRVWV
$IILOLDWHGIDLUVKDUHIHHVDQGRWKHUGXHV

%DGGHEW &RQWUDFWVHUYLFHV

'HSUHFLDWLRQ )LHOGWULSDGPLVVLRQVDQGVXSSOLHV

)LHOGWULSWUDYHO

,QVXUDQFH

,QWHUHVW ,7DQGVRIWZDUHVHUYLFHV

0DQDJHPHQWIHHVUHODWHGSDUW\DQG+5

0LVFHOODQHRXV 2FFXSDQF\

3RVWDJH 3URIHVVLRQDOVHUYLFHV

3URJUDPIHHVVSRUWV

3URPRWLRQDQGSULQWLQJ

6PDOOHTXLSPHQW

6XSSOLHV

7HOHSKRQH
7RWDOQRQSHUVRQQHOFRVWV

7RWDOIXQFWLRQDOH[SHQVHV

See Notes to Financial Statements.
6DQ/XLV2ELVSR&RXQW\<0&$,QF
6WDWHPHQWRI)XQFWLRQDO([SHQVHV
<HDU(QGHG'HFHPEHU
6XSSRUWLQJ6HUYLFHV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

3URJUDP 0DQDJHPHQW
6HUYLFHV DQG*HQHUDO )XQGUDLVLQJ 7RWDO
3HUVRQQHOFRVWV

6DODULHVDQGZDJHV

(PSOR\HHEHQHILWV 3D\UROOWD[HV

7RWDOSHUVRQQHOFRVWV

$IILOLDWHGIDLUVKDUHIHHVDQGRWKHUGXHV

%DGGHEW &RQWUDFWVHUYLFHV

'HSUHFLDWLRQ

)LHOGWULSDGPLVVLRQVDQGVXSSOLHV
)LHOGWULSWUDYHO

,QVXUDQFH

,QWHUHVW

,7DQGVRIWZDUHVHUYLFHV

0LVFHOODQHRXV 2FFXSDQF\

3RVWDJH

3URPRWLRQDQGSULQWLQJ

6PDOOHTXLSPHQW

6XSSOLHV

7HOHSKRQH

7RWDOQRQSHUVRQQHOFRVWV
7RWDOIXQFWLRQDOH[SHQVHV

See Notes to Financial Statements.
6DQ/XLV2ELVSR&RXQW\<0&$,QF
6WDWHPHQWRI)XQFWLRQDO([SHQVHV
<HDU(QGHG'HFHPEHU
6XSSRUWLQJ6HUYLFHV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

&DVKIORZVIURPRSHUDWLQJDFWLYLWLHV

&KDQJHLQQHWDVVHWV

$GMXVWPHQWVWRUHFRQFLOHWKHFKDQJHLQQHWDVVHWVWRQHW FDVKSURYLGHGE\RSHUDWLQJDFWLYLWLHV

'HSUHFLDWLRQ

/RVVRQGLVSRVDORIIL[HGDVVHWV %DGGHEWH[SHQVH ,QNLQGODQGOHDVHFRQWULEXWLRQ

$PRUWL]DWLRQDQGDGMXVWPHQWRISURPLVHWRJLYH
UHFHLYDEOHODQGOHDVH

&KDQJHVLQRSHUDWLQJDVVHWVDQGOLDELOLWLHV

$FFRXQWVUHFHLYDEOH

3URPLVHVWRJLYHUHFHLYDEOH

&RQWUDFWVDQGJUDQWVUHFHLYDEOH

3UHSDLGH[SHQVHV

$FFRXQWVSD\DEOH

$FFUXHGFRPSHQVDWLRQ

'HIHUUHGUHYHQXH

1HWFDVKSURYLGHGE\RSHUDWLQJDFWLYLWLHV &DVKIORZVIURPLQYHVWLQJDFWLYLWLHV

3XUFKDVHRILQYHVWPHQWV

3XUFKDVHRISURSHUW\DQGHTXLSPHQW

3URFHHGVIURPVDOHRISURSHUW\DQGHTXLSPHQW 1HWFDVKXVHGLQLQYHVWLQJDFWLYLWLHV

See Notes to Financial Statements.
6DQ/XLV2ELVSR&RXQW\<0&$,QF
6WDWHPHQWVRI&DVK)ORZV
<HDUV(QGHG'HFHPEHUDQG
Attachment 4
Council Agenda 8-20-2024 Item 3.A

&DVKIORZVIURPILQDQFLQJDFWLYLWLHV

3ULQFLSDOSD\PHQWVRQILQDQFHOHDVHOLDELOLWLHV

3ULQFLSDOSD\PHQWVRQQRWHSD\DEOH

1HWFDVKXVHGLQILQDQFLQJDFWLYLWLHV

1HWLQFUHDVHLQFDVKDQGFDVKHTXLYDOHQWV

&DVKDQGFDVKHTXLYDOHQWVEHJLQQLQJRI\HDU &DVKDQGFDVKHTXLYDOHQWVHQGRI\HDU

6XSSOHPHQWDU\GLVFORVXUHVRIFDVKIORZLQIRUPDWLRQ

,QWHUHVWSDLG

1RQFDVKLQYHVWLQJDQGILQDQFLQJDFWLYLWLHV

,QNLQGGRQDWLRQVRIVHUYLFHVDQGXVHRIIDFLOLWLHV
3XUFKDVHVWKURXJKILQDQFHOHDVHV
See Notes to Financial Statements.
6DQ/XLV2ELVSR&RXQW\<0&$,QF
6WDWHPHQWVRI&DVK)ORZV&RQWLQXHG
<HDUV(QGHG'HFHPEHUDQG
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

1RWH 2SHUDWLRQVDQG6XPPDU\RI6LJQLILFDQW$FFRXQWLQJ3ROLFLHV 1DWXUHRIRSHUDWLRQV

7KH6DQ/XLV2ELVSR&RXQW\<0&$,QF
³WKH$VVRFLDWLRQ´RUWKH³<0&$´
LVD
&DOLIRUQLDQRQSURILWFRUSRUDWLRQZLWKDPLVVLRQRIGHYHORSLQJWKHWRWDOSHUVRQ±VSLULW PLQGDQGERG\±WKURXJKYDOXHVEDVHGSURJUDPVWKDWEXLOGVWURQJNLGVVWURQJIDPLOLHVDQG VWURQJFRPPXQLWLHVLQ6DQ/XLV2ELVSR&RXQW\(VWDEOLVKHGLQ$XJXVWRI WKH
$VVRFLDWLRQRIIHUVSURJUDPVZKLFKEHQHILWDYDULHW\RIDXGLHQFHVWKURXJKHGXFDWLRQLQWKH GHYHORSPHQWRILQWHUSHUVRQDOVNLOOVWKHH[SORUDWLRQRISHUVRQDOLQWHUHVWVDQGWKHFXOWLYDWLRQ RIYDOXHVDQGVNLOOVZKLFKOHDGWRSRVLWLYHEHKDYLRUV Youth Development - 7KHVHSURJUDPIRFXVDUHDVLQFOXGH\RXWKGHYHORSPHQWSURJUDPV ZKLFKDUHFRPPLWWHGWRQXUWXULQJWKHSRWHQWLDORIHYHU\FKLOGDQGWHHQ7KH$VVRFLDWLRQ EHOLHYHVWKDWDOONLGVGHVHUYHWKHRSSRUWXQLW\WRGLVFRYHUZKRWKH\DUHDQGZKDWWKH\FDQ DFKLHYH7KDWLVZK\WKH$VVRFLDWLRQKHOSV\RXQJSHRSOHFXOWLYDWHWKHYDOXHVVNLOOVDQG UHODWLRQVKLSVWKDWOHDGWRSRVLWLYHEHKDYLRUVEHWWHUKHDOWKDQGHGXFDWLRQDODFKLHYHPHQW7KH <0&$SURJUDPVVXFKDVWHHQVDIWHUVFKRROGD\FDPSVDQG\RXWKDFWLYLWLHVRIIHUDUDQJH RIH[SHULHQFHVWKDWHQULFKFRJQLWLYHVRFLDOSK\VLFDODQGHPRWLRQDOJURZWK Healthy Living - ,QDGGLWLRQWKH$VVRFLDWLRQLVDQDGYRFDWHIRUKHDOWK\OLIHVW\OHVDQGZHOO EHLQJLQRUGHUWREULQJIDPLOLHVFORVHUWRJHWKHUHQFRXUDJHJRRGKHDOWKDQGIRVWHU FRQQHFWLRQVWKURXJKILWQHVVVSRUWVIXQDQGVKDUHGLQWHUHVWV$VDUHVXOWSHRSOHLQWKH FRPPXQLW\DUHUHFHLYLQJWKHVXSSRUWJXLGDQFHDQGUHVRXUFHVWKH\QHHGWRDFKLHYHJUHDWHU KHDOWKLQVSLULWPLQGDQGERG\7KH$VVRFLDWLRQ¶VPHPEHUVKLSDQGHQWHUSULVHRSHUDWLRQV DUHDLPHGDWSURYLGLQJDGXOWVDQGIDPLOLHVZLWKWKHVXSSRUWJXLGDQFHDQGUHVRXUFHVQHHGHG WRDFKLHYHJUHDWHUKHDOWK0HPEHUVDUHSURYLGHGZLWKDFFHVVWRILWQHVVIDFLOLWLHVFODVVHV DQGDYDULHW\RIRWKHUDPHQLWLHV
$VSDUWRIWKHPLVVLRQWKH$VVRFLDWLRQ¶VSURJUDPVDUHDFFHVVLEOHDIIRUGDEOHDQGRSHQWRDOO IDLWKVEDFNJURXQGVDELOLWLHVDQGLQFRPHOHYHOV7KH$VVRFLDWLRQSURYLGHVILQDQFLDO DVVLVWDQFHWRSHRSOHZKRRWKHUZLVHPD\QRWKDYHEHHQDEOHWRDIIRUGWRSDUWLFLSDWH7KH $VVRFLDWLRQLVJRYHUQHGE\DQHOHFWHGERDUGRIGLUHFWRUVDQGRIILFHUVUHVSRQVLEOHIRUWKH GHYHORSPHQWRISROLFLHV7KHVWDIIFRQGXFWWKH$VVRFLDWLRQ¶VDFWLYLWLHVLQDFFRUGDQFHZLWK ERDUGHVWDEOLVKHGSROLF\
%DVLVRIDFFRXQWLQJ

7KHILQDQFLDOVWDWHPHQWVDUHSUHVHQWHGRQDQDFFUXDOEDVLVZKLFKUHFRJQL]HVLQFRPHZKHQ SHUIRUPDQFHREOLJDWLRQVDUHPHWDQGH[SHQVHVZKHQLQFXUUHGDQGLQDFFRUGDQFHZLWK DFFRXQWLQJSULQFLSOHVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFD Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

)LQDQFLDOVWDWHPHQWSUHVHQWDWLRQDQGQHWDVVHWV

7RHQVXUHWKHREVHUYDQFHRIOLPLWDWLRQVDQGUHVWULFWLRQVSODFHGRQWKHXVHRIUHVRXUFHVWKH DFFRXQWVRIWKH$VVRFLDWLRQDUHPDLQWDLQHGLQDFFRUGDQFHZLWKWKHSULQFLSOHVRIIXQG DFFRXQWLQJ7KH$VVRFLDWLRQKDVSUHVHQWHGLWVILQDQFLDOVWDWHPHQWVLQDFFRUGDQFHZLWK JHQHUDOO\DFFHSWHGDFFRXQWLQJSULQFLSOHVIRUQRWIRUSURILWRUJDQL]DWLRQV8QGHUWKLV JXLGDQFHWKH$VVRFLDWLRQLVUHTXLUHGWRUHSRUWLQIRUPDWLRQUHJDUGLQJLWVILQDQFLDOSRVLWLRQ DQGDFWLYLWLHVDFFRUGLQJWRWZRFODVVHVRIQHWDVVHWV
ZLWKRXWGRQRUUHVWULFWLRQVRUZLWK
GRQRUUHVWULFWLRQV
7KH$VVRFLDWLRQUHSRUWVJLIWVRIFDVKDQGRWKHUDVVHWVDVUHVWULFWHGVXSSRUWLIWKH\DUH UHFHLYHGZLWKGRQRUVWLSXODWLRQVWKDWOLPLWWKHXVHRIWKHGRQDWHGDVVHWV:KHQDGRQRU UHVWULFWLRQH[SLUHVWKDWLVZKHQDVWLSXODWHGWLPHUHVWULFWLRQHQGVRUDSXUSRVHUHVWULFWLRQLV DFFRPSOLVKHGQHWDVVHWVZLWKGRQRUUHVWULFWLRQVDUHUHFODVVLILHGWRQHWDVVHWVZLWKRXWGRQRU UHVWULFWLRQVDQGUHSRUWHGLQWKHVWDWHPHQWRIDFWLYLWLHVDVQHWDVVHWVUHOHDVHGIURP UHVWULFWLRQV
1HWDVVHWVUHYHQXHVJDLQVDQGORVVHVDUHFODVVLILHGEDVHGRQWKHH[LVWHQFHRUDEVHQFHRI GRQRURUJUDQWRULPSRVHGUHVWULFWLRQV$FFRUGLQJO\QHWDVVHWVDQGFKDQJHVWKHUHLQDUH FODVVLILHGDQGUHSRUWHGDVIROORZV

1HW$VVHWV:LWKRXW'RQRU5HVWULFWLRQV
1HWDVVHWVDYDLODEOHIRUXVHLQJHQHUDO
RSHUDWLRQVDQGQRWVXEMHFWWRGRQRU
RUFHUWDLQJUDQWRU
UHVWULFWLRQV7KHJRYHUQLQJ
ERDUGKDVGHVLJQDWHGIURPQHWDVVHWVZLWKRXWGRQRUUHVWULFWLRQVQHWDVVHWVIRUDFDSLWDO DQGRSHUDWLQJUHVHUYH
1HW$VVHWV:LWK'RQRU5HVWULFWLRQV
1HWDVVHWVVXEMHFWWRGRQRU
RUFHUWDLQJUDQWRU

LPSRVHGUHVWULFWLRQV6RPHGRQRULPSRVHGUHVWULFWLRQVDUHWHPSRUDU\LQQDWXUHVXFKDV WKRVHWKDWZLOOEHPHWE\WKHSDVVDJHRIWLPHRURWKHUHYHQWVVSHFLILHGE\WKHGRQRU 2WKHUGRQRULPSRVHGUHVWULFWLRQVFDQEHSHUSHWXDOLQQDWXUHZKHUHWKHGRQRUVWLSXODWHV WKDWUHVRXUFHVEHPDLQWDLQHGLQSHUSHWXLW\
3XEOLFVXSSRUW

$OOSXEOLFVXSSRUWUHYHQXHLVFRQVLGHUHGWREHDYDLODEOHIRUXQUHVWULFWHGXVHXQOHVV VSHFLILFDOO\UHVWULFWHGE\WKHGRQRURUWKHWHUPVRIDJUDQW5HYHQXHIURPSXEOLFVXSSRUWLV UHFRJQL]HGDWWKHWLPHWKDWDQXQFRQGLWLRQDOSURPLVHWRJLYHRUWUDQVIHURIDVVHWVLVPDGH Contributions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ttachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

Government grants and contracts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
In-kind contributions of services:7KH$VVRFLDWLRQUHFRJQL]HVFRQWULEXWLRQVRIVHUYLFHV UHFHLYHGLIVXFKVHUYLFHV

D
FUHDWHRUHQKDQFHQRQILQDQFLDODVVHWV
E
UHTXLUHVSHFLDOL]HG
VNLOOV
F
DUHSURYLGHGE\LQGLYLGXDOVSRVVHVVLQJWKRVHVNLOOVDQG G
ZRXOGW\SLFDOO\QHHG
WREHSXUFKDVHGLIQRWFRQWULEXWHG6XFKDPRXQWVIRUVHUYLFHVWRWDOHGDQG

IRUWKH\HDUVHQGHG'HFHPEHUDQGUHVSHFWLYHO\ Use of donated facilities
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
DQGIRUWKH\HDUVHQGHG'HFHPEHUDQGUHVSHFWLYHO\ 7KH$VVRFLDWLRQUHFHLYHVVHUYLFHVIURPPDQ\YROXQWHHUVZKRJLYHVLJQLILFDQWDPRXQWVRI WKHLUWLPHWRWKHSURJUDPVRIWKH$VVRFLDWLRQ1RDPRXQWVKDYHEHHQUHIOHFWHGIRUWKHVH W\SHVRIGRQDWHGVHUYLFHVDVWKHUHLVQRREMHFWLYHEDVLVDYDLODEOHWRPHDVXUHWKHYDOXHRI VXFKVHUYLFHV
&RQWULEXWLRQVRIDVVHWVRWKHUWKDQFDVKDUHUHFRUGHGDWHVWLPDWHGIDLUYDOXH 5HYHQXHUHFRJQLWLRQ

7KH$VVRFLDWLRQKDVPXOWLSOHUHYHQXHVWUHDPVWKDWDUHDFFRXQWHGIRUDVUHFLSURFDOH[FKDQJH WUDQVDFWLRQVLQFOXGLQJPHPEHUVKLSDQGSURJUDPIHHV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

%HFDXVHWKH$VVRFLDWLRQ¶VSHUIRUPDQFHREOLJDWLRQVUHODWHWRFRQWUDFWVZLWKDGXUDWLRQRI OHVVWKDQRQH\HDUWKH$VVRFLDWLRQKDVHOHFWHGWRDSSO\WKHRSWLRQDOH[HPSWLRQSURYLGHGLQ WKHUHYHQXHUHFRJQLWLRQJXLGDQFHDQGWKHUHIRUHLVQRWUHTXLUHGWRGLVFORVHWKHDJJUHJDWH DPRXQWRIWKHWUDQVDFWLRQSULFHDOORFDWHGWRSHUIRUPDQFHREOLJDWLRQVWKDWDUHXQVDWLVILHGRU SDUWLDOO\XQVDWLVILHGDWWKHHQGRIWKHUHSRUWLQJSHULRG7KHUHDUHQRLQFUHPHQWDOFRVWVRI REWDLQLQJDFRQWUDFWDQGQRVLJQLILFDQWILQDQFLQJFRPSRQHQWV Membership dues and program fees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
0HPEHUVKLSGXHVDQGSURJUDPIHHVDUHUHFRJQL]HGUDWDEO\RYHUWKHSHULRGWKHPHPEHUVKLS RUSURJUDPVHUYLFHLVSURYLGHGRQDVWUDLJKWOLQHEDVLVLQDQDPRXQWWKDWUHIOHFWVWKH FRQVLGHUDWLRQWKH$VVRFLDWLRQH[SHFWVWREHHQWLWOHGWRLQH[FKDQJHIRUWKRVHVHUYLFHV$OO WKH$VVRFLDWLRQ¶VUHYHQXHIURPFRQWUDFWVZLWKFXVWRPHUVDUHIURPSHUIRUPDQFHREOLJDWLRQV VDWLVILHGRYHUWLPH3ULFHVDUHVSHFLILFWRDGLVWLQFWSHUIRUPDQFHREOLJDWLRQDQGGRQRW FRQVLVWRIPXOWLSOHWUDQVDFWLRQV0HPEHUVKLSMRLQLQJIHHVDUHUHFRJQL]HGDWWKHWLPHRIVLJQ XSSULPDULO\GXHWRWKHIDFWWKDWWKH\DUHQRQUHIXQGDEOHRULHQWDWLRQVHUYLFHVDUHSURYLGHG XSIURQWDQGPHPEHUVFDQFDQFHODWDQ\WLPHZLWKDPRQWK¶VQRWLFH 0HPEHUVKLSGXHVDQGSURJUDPIHHVSDLGWRWKH$VVRFLDWLRQLQDGYDQFHUHSUHVHQWFRQWUDFW OLDELOLWLHVDQGDUHUHFRUGHGDVRWKHUGHIHUUHGUHYHQXH$PRXQWVELOOHGEXWXQSDLGDUH FRQWUDFWDVVHWVDQGUHFRUGHGDVDFFRXQWVUHFHLYDEOH
)LQDQFLDODVVLVWDQFHDQGVFKRODUVKLSV

7KH$VVRFLDWLRQDZDUGVVFKRODUVKLSVWRGHVHUYLQJLQGLYLGXDOVIDPLOLHVDQGJURXSVWR HQDEOHWKHPWRSDUWLFLSDWHLQWKHSURJUDPVDQGXVHWKHIDFLOLWLHV7KHVHVFKRODUVKLSVDUH DZDUGHGEDVHGXSRQILQDQFLDOQHHGDQGDUHSURYLGHGE\DIHHUHGXFWLRQ7RWDOUHYHQXHLV UHSRUWHGQHWRIVFKRODUVKLSVDZDUGHG
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

8VHRIHVWLPDWHV

7KHSUHSDUDWLRQRIWKHILQDQFLDOVWDWHPHQWVLQFRQIRUPLW\ZLWK86JHQHUDOO\DFFHSWHG DFFRXQWLQJSULQFLSOHVUHTXLUHVPDQDJHPHQWWRPDNHHVWLPDWHVDQGDVVXPSWLRQVWKDWDIIHFW FHUWDLQUHSRUWHGDPRXQWVDQGGLVFORVXUHV$FWXDOUHVXOWVFRXOGGLIIHUIURPWKRVHHVWLPDWHV DQGWKRVHGLIIHUHQFHVFRXOGEHPDWHULDO
)DLUYDOXHPHDVXUHPHQWV

The Fair Value MeasurementsWRSLFRIWKH)$6%ASCHVWDEOLVKHVDIUDPHZRUNIRU PHDVXULQJIDLUYDOXH7KDWIUDPHZRUNSURYLGHVDIDLUYDOXHKLHUDUFK\WKDWSULRULWL]HVWKH LQSXWVWRYDOXDWLRQWHFKQLTXHVXVHGWRPHDVXUHIDLUYDOXH7KHKLHUDUFK\JLYHVWKHKLJKHVW SULRULW\WRXQDGMXVWHGTXRWHGSULFHVLQDFWLYHPDUNHWVIRULGHQWLFDODVVHWVRUOLDELOLWLHV OHYHO
PHDVXUHPHQWV
DQGWKHORZHVWSULRULW\WRXQREVHUYDEOHLQSXWV
OHYHOPHDVXUHPHQWV

7KHWKUHHOHYHOVRIWKHIDLUYDOXHKLHUDUFK\DUHGHVFULEHGEHORZ
/HYHO±,QSXWVWRWKHYDOXDWLRQPHWKRGRORJ\DUHXQDGMXVWHGTXRWHGSULFHVIRULGHQWLFDO DVVHWVRUOLDELOLWLHVLQDFWLYHPDUNHWVWKDWWKH$VVRFLDWLRQKDVWKHDELOLW\WR DFFHVV
/HYHO±,QSXWVWRWKHYDOXDWLRQPHWKRGRORJ\LQFOXGH

xTXRWHGSULFHVIRUVLPLODUDVVHWVRUOLDELOLWLHVLQDFWLYHPDUNHWV
xTXRWHGSULFHVIRULGHQWLFDORUVLPLODUDVVHWVRUOLDELOLWLHVLQLQDFWLYH

PDUNHWV

xLQSXWVRWKHUWKDQTXRWHGSULFHVWKDWDUHREVHUYDEOHIRUWKHDVVHWRUOLDELOLW\
xLQSXWVWKDWDUHGHULYHGSULQFLSDOO\IURPRUFRUURERUDWHGE\REVHUYDEOH PDUNHWGDWDE\FRUUHODWLRQRUE\RWKHUPHDQV
/HYHO±,QSXWVWRWKHYDOXDWLRQPHWKRGRORJ\DUHXQREVHUYDEOHDQGVLJQLILFDQWWRWKH IDLUYDOXHPHDVXUHPHQW
7KHDVVHWRUOLDELOLW\¶VIDLUYDOXHPHDVXUHPHQWOHYHOZLWKLQWKHIDLUYDOXHKLHUDUFK\LVEDVHG RQWKHORZHVWOHYHORIDQ\LQSXWWKDWLVVLJQLILFDQWWRWKHIDLUYDOXHPHDVXUHPHQW9DOXDWLRQ WHFKQLTXHVXVHGQHHGWRPD[LPL]HWKHXVHRIREVHUYDEOHLQSXWVDQGPLQLPL]HWKHXVHRI XQREVHUYDEOHLQSXWV
7KHIROORZLQJDUHGHVFULSWLRQVRIWKHUHFXUULQJYDOXDWLRQPHWKRGVDQGDVVXPSWLRQVXVHGE\ WKH$VVRFLDWLRQWRHVWLPDWHWKHIDLUYDOXHVRIFHUWDLQILQDQFLDOLQVWUXPHQWV
Cash and cash equivalents:)DLUYDOXHVRIPRQH\PDUNHWIXQGVDUHHVWLPDWHGWR DSSUR[LPDWHGHSRVLWDFFRXQWEDODQFHVSD\DEOHRQGHPDQGDVQRGLVFRXQWVIRUFUHGLW TXDOLW\RUOLTXLGLW\ZHUHGHWHUPLQHGWREHDSSOLFDEOH
FRQVLGHUHG/HYHO

Investments – certificates of deposit:)L[HGLQFRPHVHFXULWLHVLQFOXGLQJFHUWLILFDWHVRI GHSRVLWZKLFKDUHRQHWRWKUHH\HDUVLQGXUDWLRQ7KHIDLUYDOXHVRIWKHVHLQYHVWPHQWV DUHUHDGLO\PDUNHWDEOHDQGDUHGHWHUPLQHGE\REWDLQLQJTXRWHGSULFHVRQDQDWLRQDOO\ UHFRJQL]HGVHFXULWLHVH[FKDQJHRUE\XVLQJGLVFRXQWHGFRVWZKLFKDSSUR[LPDWHVIDLU YDOXH
FRQVLGHUHG/HYHO

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

7KHGRQDWHGVHUYLFHVDVVHWVDQGXVHRIIDFLOLWLHVUHFRUGHGE\WKH$VVRFLDWLRQKDYHEHHQ UHFRUGHGDWIDLUYDOXHVEDVHGRQPDQDJHPHQW¶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
&DVKDQGFDVKHTXLYDOHQWV

7KH$VVRFLDWLRQFRQVLGHUVFDVKHTXLYDOHQWVWREHDOOVKRUWWHUPVHFXULWLHVSXUFKDVHGZLWKD PDWXULW\RIWKUHHPRQWKVRUOHVV
7KH$VVRFLDWLRQPDLQWDLQVFDVKEDODQFHVZLWKILQDQFLDOLQVWLWXWLRQVORFDWHGLQ&DOLIRUQLD $FFRXQWVDWWKHVHLQVWLWXWLRQVDUHLQVXUHGE\WKH)HGHUDO'HSRVLW,QVXUDQFH&RUSRUDWLRQ

)',&
XSWR$VRI'HFHPEHUDQGWKH$VVRFLDWLRQKHOGFDVKLQ ILQDQFLDOLQVWLWXWLRQVLQH[FHVVRIIHGHUDOO\LQVXUHGOLPLWV &DVKEDODQFHVKHOGIRUORQJWHUPGRQRUUHVWULFWHGSXUSRVHVDUHVKRZQDVUHVWULFWHGFDVKRQ WKHEDODQFHVKHHWDQGDUHH[FOXGHGIURPWKHGHILQLWLRQRIFDVKDQGFDVKHTXLYDOHQWV ,QYHVWPHQWV

,QYHVWPHQWVDUHUHSRUWHGDWIDLUYDOXHDQGDUHEDVHGSULPDULO\RQTXRWHGPDUNHWSULFHVRU HVWLPDWHGIDLUYDOXH,QYHVWPHQWVUHSUHVHQWDVVHWVWKDWKDYHRULJLQDOPDWXULWLHVRYHU PRQWKVDQGWKXVDUHQRWFDVKHTXLYDOHQWV(YHQWKRXJKVRPHRIWKHFHUWLILFDWHVRIGHSRVLWV RULJLQDOPDWXULW\GDWHVDUHEH\RQGRQH\HDUWKH$VVRFLDWLRQFODVVLILHVWKHLQYHVWPHQWVDV DYDLODEOHIRUVDOHDQGFRQVLGHUHGVKRUWWHUPIRUFODVVLILFDWLRQSXUSRVHV $FFRXQWVUHFHLYDEOH

$FFRXQWVUHFHLYDEOHFRQVLVWSULPDULO\RIQRQLQWHUHVWEHDULQJDPRXQWVGXHIRUSURJUDP VHUYLFHV7KH$VVRFLDWLRQ¶VSROLF\LVWRVHQGDOO
GD\SDVWGXHDFFRXQWVWKUHHQRWLFHV
$IWHUWKHWKLUGQRWLFHDQGDKDUGGHDGOLQHLQZKLFKHLWKHUSD\PHQWLVUHFHLYHGRUDSD\PHQW SODQVLJQHGWKHSDVWGXHDFFRXQWVDUHVHQWWRFROOHFWLRQVRIZKLFKLISDLGWKH$VVRFLDWLRQ ZLOOUHFHLYH%DODQFHVWKDWDUHVWLOORXWVWDQGLQJDIWHUPDQDJHPHQWKDVXVHGUHDVRQDEOH FROOHFWLRQHIIRUWVDUHZULWWHQRIIWKURXJKDFKDUJHWRWKHDOORZDQFHDQGFUHGLWWRWKH UHFHLYDEOHEDODQFH,QHYDOXDWLQJWKHFROOHFWDELOLW\RILQGLYLGXDOUHFHLYDEOHEDODQFHVWKH $VVRFLDWLRQFRQVLGHUVPDQ\IDFWRUVLQFOXGLQJWKHDJHRIWKHEDODQFHWKHFXVWRPHU¶V SD\PHQWKLVWRU\FXVWRPHUFXUUHQWFUHGLWZRUWKLQHVVFXVWRPHUSD\PHQWWHUPVDQGFXUUHQW HFRQRPLFWUHQGV7KHUHPDLQLQJEDODQFHLVH[SHFWHGWREHIXOO\FROOHFWLEOHZLWKLQRQH\HDU RIWKH\HDUHQG
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

3URPLVHVWRJLYHUHFHLYDEOH

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
3URPLVHWRJLYHODQGOHDVHUHFHLYDEOH

7KHSURPLVHWRJLYHDQGOHDVHUHFHLYDEOHLVEDVHGRQWKH\HDUODQGOHDVHZLWKWKH&LW\RI 6DQ/XLV2ELVSRDQGUHSUHVHQWVGRQDWHGXVHRIIDFLOLWLHV 6HH1RWH

&RQWUDFWVDQGJUDQWVUHFHLYDEOH

&RQWUDFWVDQGJUDQWVUHFHLYDEOHDUHPDLQO\IURPJRYHUQPHQWDODJHQFLHV7KH$VVRFLDWLRQ KDVGHWHUPLQHGWKDWDQXQFROOHFWLEOHDOORZDQFHLVQRWUHTXLUHGDQGWKHEDODQFHLVH[SHFWHG WREHIXOO\FROOHFWLEOHZLWKLQRQH\HDURIWKH\HDUHQG 3URSHUW\DQGHTXLSPHQW

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
(VWLPDWHGXVHIXOOLYHVDUHDVIROORZV

<HDUV
%XLOGLQJ
/HDVHKROGLPSURYHPHQWV ±

)XUQLWXUHIL[WXUHVDQGHTXLSPHQW ±
:HEVLWH ±
)DFLOLW\XSJUDGHV ±

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

/HDVHV

7KH$VVRFLDWLRQDVVHVVHVZKHWKHUDQDUUDQJHPHQWTXDOLILHVDVDOHDVH LHFRQYH\VWKHULJKW
WRFRQWUROWKHXVHRIDQLGHQWLILHGDVVHWIRUDSHULRGRIWLPHLQH[FKDQJHIRUFRQVLGHUDWLRQ
DWLQFHSWLRQDQGRQO\UHDVVHVVHVLWVGHWHUPLQDWLRQLIWKHWHUPVDQGFRQGLWLRQVRIWKH DUUDQJHPHQWDUHFKDQJHG7KHULJKWWRFRQWUROWKHXVHRIDQDVVHWLQFOXGHVWKHULJKWWRREWDLQ VXEVWDQWLDOO\DOORIWKHHFRQRPLFEHQHILWVRIWKHXQGHUO\LQJDVVHWDQGWKHULJKWWRGLUHFWKRZ DQGIRUZKDWSXUSRVHWKHDVVHWLVXVHG/HDVHVZLWKDQLQLWLDOWHUPRIWZHOYHPRQWKVRUOHVV DUHQRWUHFRUGHGRQWKHVWDWHPHQWRIILQDQFLDOSRVLWLRQDQGDUHH[SHQVHGDVLQFXUUHG )LQDQFHOHDVHVDUHLQFOXGHGLQSURSHUW\DQGHTXLSPHQWDQGILQDQFHOHDVHOLDELOLWLHVRQWKH VWDWHPHQWVRIILQDQFLDOSRVLWLRQ
2SHUDWLQJOHDVHULJKWRIXVHDVVHWVDQGOLDELOLWLHVDUHUHFRJQL]HGDWWKHFRPPHQFHPHQWGDWH RIWKHOHDVHEDVHGRQWKHSUHVHQWYDOXHRIWKHIL[HGOHDVHSD\PHQWVRYHUWKHOHDVHWHUPLIWKH WHUPLVRYHURQH\HDU7KH$VVRFLDWLRQGLGQRWKDYHDQ\ORQJWHUPRSHUDWLQJOHDVHVDVRI 'HFHPEHU
&RPSHQVDWHGDEVHQFHV

7KH$VVRFLDWLRQDOORZVIXOOWLPHHPSOR\HHVWRUHFHLYHFRPSHQVDWLRQIRUYDFDWLRQOHDYH 7KHHVWLPDWHUHODWHGWRFRPSHQVDWHGDEVHQFHVLVEDVHGRQYDFDWLRQKRXUVDYDLODEOHDQG FXUUHQWSD\UDWHV7KHREOLJDWLRQIRUFRPSHQVDWHGDEVHQFHVKDVEHHQUHFRUGHGWRDFFUXHG FRPSHQVDWLRQ
,QFRPHWD[VWDWXV

7KH$VVRFLDWLRQ¶VDFWLYLWLHVDUHJHQHUDOO\H[HPSWIURPIHGHUDODQGVWDWHLQFRPHWD[HVXQGHU 6HFWLRQ
F

RIWKH,QWHUQDO5HYHQXH&RGHDQG6HFWLRQ
G
RIWKH&DOLIRUQLD
)UDQFKLVH7D[&RGH6LQFHWKH$VVRFLDWLRQLVH[HPSWIURPIHGHUDODQGVWDWHLQFRPHWD[ OLDELOLW\QRSURYLVLRQLVPDGHIRUFXUUHQWRUGHIHUUHGLQFRPHWD[H[SHQVH7KH$VVRFLDWLRQ LVQRWDSULYDWHIRXQGDWLRQ0DQDJHPHQWKDVGHWHUPLQHGWKDWWKH$VVRFLDWLRQLVQRWVXEMHFW WRXQUHODWHGEXVLQHVVLQFRPHWD[0DQDJHPHQWLVQRWDZDUHRIDQ\WUDQVDFWLRQVWKDWZRXOG LPSDFWWKH$VVRFLDWLRQ¶VWD[H[HPSWVWDWXV
)RUWKH\HDUVHQGHG'HFHPEHUDQGPDQDJHPHQWRIWKH$VVRFLDWLRQLVQRW DZDUHRIDQ\PDWHULDOXQFHUWDLQWD[SRVLWLRQVWREHDFFRXQWHGIRULQWKHILQDQFLDOVWDWHPHQWV XQGHUWKHSULQFLSOHVRIWKHIncome TaxesWRSLFRIWKH)$6%(ASC)7KH$VVRFLDWLRQ UHFRJQL]HVLQWHUHVWDQGSHQDOWLHVLIDQ\UHODWHGWRXQUHFRJQL]HGWD[EHQHILWVLQLQWHUHVW H[SHQVH
$OOWD[H[HPSWHQWLWLHVDUHVXEMHFWWRUHYLHZDQGDXGLWE\IHGHUDOVWDWHDQGRWKHUDSSOLFDEOH DJHQFLHV6XFKDJHQFLHVPD\UHYLHZWKHWD[DELOLW\RIXQUHODWHGEXVLQHVVLQFRPHRUWKH TXDOLILFDWLRQRIWKHWD[H[HPSWHQWLW\XQGHUWKH,QWHUQDO5HYHQXH&RGHDQGDSSOLFDEOHVWDWH VWDWXWHV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

)XQFWLRQDOH[SHQVHDOORFDWLRQV

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

7KH$VVRFLDWLRQH[SHQVHVDGYHUWLVLQJFRVWVDVLQFXUUHG3URPRWLRQDQGSULQWLQJH[SHQVHIRU WKH\HDUHQGHG'HFHPEHUDQGZDVDQG UHVSHFWLYHO\
5HFHQWDFFRXQWLQJSURQRXQFHPHQWV

7KH)$6%LVVXHG$68Leases (Topic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¶VVWDWHPHQWVRIILQDQFLDO SRVLWLRQRURQWKHVWDWHPHQWVRIRSHUDWLRQV7KHPRVWVLJQLILFDQWFKDQJHZDVWKHILQDQFH OHDVHOLDELOLWLHVWKDWZHUHIRUPDOO\FODVVLILHGDVFDSLWDOOHDVHV$GRSWLRQRIWKHVWDQGDUGGLG QRWUHTXLUHWKH$VVRFLDWLRQWRUHVWDWHDPRXQWVDVRI-DQXDU\ 5HFODVVLILFDWLRQV

&HUWDLQDPRXQWVLQWKH ILQDQFLDOVWDWHPHQWVKDYHEHHQUHFODVVLILHGIRUFRPSDUDWLYH SXUSRVHVWRFRQIRUPZLWKSUHVHQWDWLRQLQWKHILQDQFLDOVWDWHPHQWV 1RWH /LTXLGLW\DQG$YDLODELOLW\
)LQDQFLDODVVHWVDYDLODEOHIRUJHQHUDOH[SHQGLWXUHWKDWLVZLWKRXWGRQRURURWKHUUHVWULFWLRQV OLPLWLQJWKHLUXVHZLWKLQRQH\HDURIWKHEDODQFHVKHHWGDWHFRPSULVHWKHIROORZLQJ
&DVKDQGFDVKHTXLYDOHQWV

,QYHVWPHQWVFHUWLILFDWHVRIGHSRVLW $FFRXQWVUHFHLYDEOH
3URPLVHVWRJLYHUHFHLYDEOH
&RQWUDFWVDQGJUDQWVUHFHLYDEOH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

2FFDVLRQDOO\WKH%RDUGDSSURYHVDSRUWLRQRIH[FHVVFDVKWREHKHOGLQPRQH\PDUNHW DFFRXQWVDQGWRWDO DVRI'HFHPEHUDQGLVLQFOXGHGLQFDVKDQGFDVK HTXLYDOHQWVDERYH$OVRPDQDJHPHQWLQYHVWVFDVKLQH[FHVVRIGDLO\UHTXLUHPHQWVLQWR LQYHVWPHQWVFHUWLILFDWHVRIGHSRVLW$VSDUWRIWKH$VVRFLDWLRQ¶VOLTXLGLW\PDQDJHPHQW ILQDQFLDODVVHWVDUHVWUXFWXUHGWREHDYDLODEOHDVLWVJHQHUDOH[SHQGLWXUHVOLDELOLWLHVDQG RWKHUREOLJDWLRQVFRPHGXH&XUUHQWO\FDVKLQH[FHVVRIGDLO\UHTXLUHPHQWVLVFXUUHQWO\ LQYHVWHGLQPRQH\PDUNHWDFFRXQWV
FDVKHTXLYDOHQWV
RULQYHVWPHQWV
FHUWLILFDWHVRI

GHSRVLW
7RKHOSPDQDJHXQDQWLFLSDWHGOLTXLGLW\QHHGVWKH$VVRFLDWLRQKDVDOLQHRIFUHGLW

VHH1RWH
ZKLFKLWFRXOGGUDZXSRQ,QDGGLWLRQWKH$VVRFLDWLRQKDVDQRYHUGUDIW SURWHFWLRQ
VHH1RWH
ZKLFKLWFRXOGGUDZXSRQ
1RWH 3URPLVHVWR*LYH5HFHLYDEOH
8QFRQGLWLRQDOSURPLVHVWRJLYHUHFHLYDEOHDW'HFHPEHUDQGDUHHVWLPDWHGWR EHFROOHFWHGDVIROORZV

([SHFWHGWREHFROOHFWHGZLWKLQRQH\HDU ([SHFWHGWREHFROOHFWHGLQRQHWRILYH\HDUV 7RWDOSURPLVHVWRJLYH /HVVGLVFRXQWWRSUHVHQWYDOXHDW /HVVDOORZDQFHIRUGRXEWIXOSURPLVHV

7RWDOSURPLVHVWRJLYHQHW /HVVFXUUHQWSRUWLRQ

7RWDOORQJWHUPSURPLVHVWRJLYH
UHFHLYDEOH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

1RWH 3URSHUW\DQG(TXLSPHQW
0DMRUFODVVHVRISURSHUW\DQGHTXLSPHQWDQGDFFXPXODWHGGHSUHFLDWLRQDUHDVIROORZVDW 'HFHPEHUDQG

%XLOGLQJ

/HDVHKROGLPSURYHPHQWV )XUQLWXUHIL[WXUHVDQGHTXLSPHQW

:HEVLWH

)DFLOLW\XSJUDGHV &RQVWUXFWLRQLQSURJUHVV

/HVVDFFXPXODWHGGHSUHFLDWLRQ

7RWDOSURSHUW\DQGHTXLSPHQW

'HSUHFLDWLRQH[SHQVHIRUWKH\HDUVHQGHG'HFHPEHUDQGZDVDQG
UHVSHFWLYHO\
1RWH 'HIHUUHG5HYHQXH
$W'HFHPEHUDQGGHIHUUHGUHYHQXHFRQVLVWVRIWKHIROORZLQJ

(YHQWVDQGPLVFHOODQHRXV 0HPEHUVKLS

3URJUDP

7RWDOGHIHUUHGUHYHQXH

1RWH /LQHRI&UHGLWDQG2YHUGUDIW3URWHFWLRQ
'XULQJWKH\HDUVHQGHG'HFHPEHUDQGWKH$VVRFLDWLRQKDGDQRYHUGUDIW SURWHFWLRQDJUHHPHQWZLWK0HFKDQLFV%DQN7KHDJUHHPHQWDOORZVIRUERUURZLQJVXSWR ZLWKDPDWXULW\GDWHRI6HSWHPEHU,QWHUHVWDFFUXHVDWWKH:DOO6WUHHW -RXUQDO3ULPH5DWH
DQGDW'HFHPEHUDQGUHVSHFWLYHO\ SOXV
7KHUHZDVQRRXWVWDQGLQJEDODQFHDVRI'HFHPEHUDQG7KHDJUHHPHQW LVXQVHFXUHG
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

'XULQJWKH\HDUVHQGHG'HFHPEHUDQGWKH$VVRFLDWLRQKDGDUHYROYLQJOLQH RIFUHGLWZLWK0HFKDQLFV%DQN7KHDJUHHPHQWDOORZVIRUERUURZLQJVXSWRZLWKD PDWXULW\GDWHRI-XQH7KHLQWHUHVWUDWHLVDWWKHEDQN¶VLQGH[UDWHSOXVDPDUJLQRI ZLWKDPLQLPXPLQWHUHVWUDWHRI7KHOLQHRIFUHGLWLVFROODWHUDOL]HGE\DVVHWV RIWKH$VVRFLDWLRQ$W'HFHPEHUDQGWKHLQWHUHVWUDWHZDV7KHUHZDV QRRXWVWDQGLQJEDODQFHDVRI'HFHPEHUDQG 1RWH /HDVHV
7KH$VVRFLDWLRQOHDVHVILWQHVVDQGRIILFHHTXLSPHQWXQGHUILQDQFHOHDVHREOLJDWLRQV7KH OHDVHVKDYHUHPDLQLQJOHDVHWHUPVRIWR\HDUV
7KHIROORZLQJVXPPDUL]HVWKHOLQHLWHPVLQWKHVWDWHPHQWVRIILQDQFLDOSRVLWLRQZKLFK LQFOXGHDPRXQWVIRUILQDQFHOHDVHVDVRI'HFHPEHUDQG

Finance leases
3URSHUW\DQGHTXLSPHQW )LQDQFHOHDVHOLDELOLWLHVFXUUHQWSRUWLRQ
)LQDQFHOHDVHOLDELOLWLHVOHVVFXUUHQWSRUWLRQ 7RWDOILQDQFHOHDVHOLDELOLWLHV
7KHIROORZLQJVXPPDUL]HVWKHZHLJKWHGDYHUDJHUHPDLQLQJOHDVHWHUPDQGGLVFRXQWUDWHDW 'HFHPEHUDQG

Weighted average remaining lease term (years):
)LQDQFHOHDVHV Weighted average discount rate:
)LQDQFHOHDVHV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

7KHIROORZLQJVXPPDUL]HVWKHOLQHLWHPVLQWKHVWDWHPHQWVRIDFWLYLWLHVZKLFKLQFOXGHWKH FRPSRQHQWVRIGHSUHFLDWLRQDQGLQWHUHVWFRVWVIRUWKH\HDUVHQGHG'HFHPEHUDQG

Finance lease costs:
$PRUWL]DWLRQRIOHDVHDVVHWVLQFOXGHG
LQGHSUHFLDWLRQ

,QWHUHVWRQOHDVHREOLJDWLRQVLQFOXGHG
LQLQWHUHVW
7RWDOILQDQFHOHDVHFRVWV

7KHIROORZLQJVXPPDUL]HVFDVKIORZVLQIRUPDWLRQUHODWHGWROHDVHVIRUWKH\HDUVHQGHG 'HFHPEHUDQG

Cash paid for amounts included in the
measurement of lease liabilities:
)LQDQFHFDVKIORZIURPILQDQFHOHDVHV Non-cash activities:
3XUFKDVHRIHTXLSPHQWWKURXJKILQDQFHOHDVH
OLDELOLWLHV
)XWXUHPDWXULWLHVRIOHDVHOLDELOLWLHVDVRI'HFHPEHUZHUHDVIROORZV
<HDUV(QGLQJ
'HFHPEHU

7RWDOIXWXUHIL[HGOHDVHSD\PHQWV
/HVVDPRXQWUHSUHVHQWLQJLQWHUHVW

3UHVHQWYDOXHRIOHDVHOLDELOLWLHV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

1RWH *UDQW5HTXLUHPHQWV
7KH$VVRFLDWLRQUHFHLYHVIXQGVWKURXJKJUDQWVIURPYDULRXVORFDODQGVWDWHJRYHUQPHQWDO DJHQFLHV7KHDIWHUVFKRROJRYHUQPHQWFRQWUDFWVDUHDZDUGHGWRWKHVFKRROGLVWULFWVDQGWKH $VVRFLDWLRQLVDVXEFRQWUDFWRUWRWKHVFKRROGLVWULFWV*UDQWVDUHVXEMHFWWRDXGLWE\WKH FRUUHVSRQGLQJRYHUVLJKWDJHQF\DVWRDOORZDEOHFRVWVSDLGZLWKJRYHUQPHQWDOIXQGVDQGDV WRWKHVKDUHRIFRVWVFRQWULEXWHGE\WKH$VVRFLDWLRQ 1RWH
&RPPLWPHQWVDQG&RQWLQJHQFLHV
(PSOR\PHQWUHODWHGFODLPV

7KH$VVRFLDWLRQLVVXEMHFWWRHPSOR\PHQWUHODWHGFODLPVVXFKDVZRUNHUVFRPSHQVDWLRQ FODLPV0DQDJHPHQWEHOLHYHVWKDWDQ\FXUUHQWFODLPVZLOOEHFRYHUHGE\LQVXUDQFHDQGGRHV QRWDQWLFLSDWHDQ\RXWRISRFNHWFRVWVEH\RQGWKHLQVXUDQFHGHGXFWLEOHVLIDQ\ 2SHUDWLQJOHDVHV

7KH$VVRFLDWLRQOHDVHVFKLOGFDUHDQG\RXWKIDFLOLWLHVXQGHUVKRUWWHUPDJUHHPHQWVWKDWDUH XQGHURQH\HDU7KHSD\PHQWVRUGRQDWHGXVHRIIDFLOLWLHVUHODWHGWRWKHVHDJUHHPHQWVDUH UHFRUGHGDVDFRPSRQHQWRIRFFXSDQF\H[SHQVH
7KH$VVRFLDWLRQOHDVHVWKHODQGXQGHUWKHIRRWSULQWRIWKHPDLQIDFLOLWLHVEXLOGLQJWKDWLV RZQHGE\WKH$VVRFLDWLRQIURPWKH&LW\RI6DQ/XLV2ELVSRIRUDEDVLFPLQLPXPDQQXDO UHQWRI7KHODQGOHDVHKDVDQRULJLQDOWHUPRI\HDUVDQGZDVRULJLQDOO\H[HFXWHGDVRI 'HFHPEHU

H[SLUHV)HEUXDU\
,QWKHODQGOHDVHZDVH[WHQGHGDQ
DGGLWLRQDO\HDUVWKURXJK)HEUXDU\,QWKHODQGOHDVHZDVYDOXHGXVLQJDQ DSSUDLVDOSHUIRUPHGE\DQLQGHSHQGHQWILUPZKLFKZDVEDVHGRQIDFWRUVVXFKDVWKH VXEMHFW¶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

:LWKLQRQH\HDU ,QRQHWRILYH\HDUV 7KHUHDIWHU
7RWDOODQGOHDVHUHFHLYDEOH
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

1RWH1HW$VVHWVZLWK'RQRU5HVWULFWLRQV
$VRI'HFHPEHUDQGQHWDVVHWVZLWKGRQRUUHVWULFWLRQVDUHUHVWULFWHGIRUWKH IROORZLQJSXUSRVHVRUSHULRGV

6XEMHFWWRH[SHQGLWXUHIRUVSHFLILHGSXUSRVH

<RXWKGHYHORSPHQW

&DSLWDOIXQG

(PRWLRQDODQGVRFLDOVXSSRUW

5($&+PHQWRULQJ ,7SURMHFW 2SHUDWLRQDOFRVWV

6XEMHFWWRWKHSDVVDJHRIWLPH

3URPLVHWRJLYHODQGOHDVHXQDYDLODEOHXQWLO
WLPHSDVVHV

1HWDVVHWVZHUHUHOHDVHGIURPGRQRUUHVWULFWLRQVE\LQFXUULQJH[SHQVHVVDWLVI\LQJWKH UHVWULFWHGSXUSRVHRUE\RFFXUUHQFHRIWKHSDVVDJHRIWLPHRURWKHUHYHQWVVSHFLILHGE\WKH GRQRUVDVIROORZVIRUWKH\HDUVHQGHG'HFHPEHUDQG

([SLUDWLRQRIWLPHUHVWULFWLRQV 6DWLVIDFWLRQRISXUSRVHUHVWULFWLRQV
<RXWKGHYHORSPHQW

(PRWLRQDODQGVRFLDOVXSSRUW <RXWKGHYHORSPHQWIRRGDQGIXQSURJUDP <RXWKGHYHORSPHQWEDVNHWEDOO 5($&+PHQWRULQJ ,7SURMHFW 2SHUDWLRQDOFRVWV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

1RWH)XQFWLRQDOL]HG([SHQVHV±0HWKRGVXVHGIRU$OORFDWLRQV 7KHILQDQFLDOVWDWHPHQWVUHSRUWFHUWDLQFDWHJRULHVRIH[SHQVHVWKDWDUHDWWULEXWHGWRPRUH WKDQRQHSURJUDPRUVXSSRUWLQJIXQFWLRQ7KHUHIRUHH[SHQVHVUHTXLUHDOORFDWLRQRQD UHDVRQDEOHEDVLVWKDWLVFRQVLVWHQWO\DSSOLHG7KHH[SHQVHVWKDWDUHDOORFDWHGLQFOXGH LQVXUDQFHGHSUHFLDWLRQFRQWUDFWVHUYLFHVSURPRWLRQDQGSXEOLFDWLRQVDODULHVEHQHILWVDQG SD\UROOWD[HVZKLFKDUHDOORFDWHGRQWKHEDVLVRIHVWLPDWHVRIWLPHDQGHIIRUW0RVW H[SHQVHVDUHGLUHFWO\WUDFNHGE\SURJUDPRUIXQFWLRQ
1RWH5HWLUHPHQW3ODQ
7KH$VVRFLDWLRQSDUWLFLSDWHVLQWKH<0&$5HWLUHPHQW)XQG5HWLUHPHQW3ODQVLQFH-XO\
ZKLFKLVDGHILQHGFRQWULEXWLRQPRQH\SXUFKDVHFKXUFKSODQWKDWLVLQWHQGHGWR VDWLVI\WKHTXDOLILFDWLRQUHTXLUHPHQWVRI6HFWLRQ
D
RIWKH,QWHUQDO5HYHQXH&RGHRI

DVDPHQGHGDQG7KH<0&$5HWLUHPHQW)XQG7D['HIHUUHG6DYLQJV3ODQZKLFKLVD UHWLUHPHQWLQFRPHDFFRXQWSODQDVGHILQHGLQVHFWLRQ E

RIWKHFRGH%RWK3ODQVDUH
VSRQVRUHGE\7KH<RXQJ0HQ¶V&KULVWLDQ$VVRFLDWLRQ5HWLUHPHQW)XQG )XQG
7KH)XQG
LVDQRWIRUSURILWWD[H[HPSWSHQVLRQIXQGLQFRUSRUDWHGLQWKH6WDWHRI1HZ<RUN

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
DQGUHVSHFWLYHO\DQGWKHUHWLUHPHQWSD\DEOHEDODQFHZDV
DQGDW'HFHPEHUDQGUHVSHFWLYHO\ 7KH$VVRFLDWLRQDOVRPDLQWDLQVDWD[GHIHUUHGVDYLQJVSODQFRYHULQJDOOHOLJLEOHHPSOR\HHV 7KHSODQLQFOXGHVDGHIHUUHGDUUDQJHPHQWXQGHUVHFWLRQ E
RIWKH,QWHUQDO5HYHQXH
&RGH7KHHOHFWLYHFRQWULEXWLRQVWRWKH
E
SRUWLRQRIWKHSODQDUHIXQGHGE\VDODU\
UHGXFWLRQVRIWKHSDUWLFLSDQWV7KH$VVRFLDWLRQGLGQRWPDNHDQ\FRQWULEXWLRQVWRWKHSODQ IRUWKH\HDUVHQGHG'HFHPEHUDQG

1RWH5HODWHG3DUW\7UDQVDFWLRQV
,Q-DQXDU\6DQ/XLV2ELVSR&RXQW\<0&$,QFHQWHUHGLQWRDPDQDJHPHQW DJUHHPHQWZLWK&KDQQHO,VODQGV<0&$,QF7KHDJUHHPHQWH[WHQGHGWKURXJK-XO\ DOORZVIRUWKHVKDULQJRIPDQDJHPHQWJRYHUQDQFHRSHUDWLRQVKXPDQUHVRXUFHVULVN PDQDJHPHQWILQDQFLDOGHYHORSPHQWDQGILVFDOPDQDJHPHQWVHUYLFHV7RWDOPDQDJHPHQW IHHVSDLGWRWKH&KDQQHO,VODQGV<0&$IRUWKH\HDUVHQGHG'HFHPEHUDQG ZHUH
DQGUHVSHFWLYHO\
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

7KH$VVRFLDWLRQKDVDUHODWLRQVKLSZLWKWKH<0&$RIWKH86$WKHQDWLRQDODIILOLDWHWR ZKLFKWKH\DUHUHTXLUHGWRUHPLWDIDLUVKDUHSRUWLRQRIWKHLUUHYHQXHVEDVHGRQ FHUWDLQFULWHULD7KH$VVRFLDWLRQLVDOVRUHTXLUHGWRSD\DIHHWRWKH&DOLIRUQLD6WDWH$OOLDQFH RI<0&$V7KH<0&$RIWKH86$SD\DEOHEDODQFHDW'HFHPEHUDQGZDV DQGUHVSHFWLYHO\7KHWRWDOUHODWHGSDUW\H[SHQVHWRQDWLRQDODQGVWDWH <0&$DIILOLDWHGRUJDQL]DWLRQVIRUWKH\HDUVHQGHG'HFHPEHUDQGZDV DQGUHVSHFWLYHO\
7KH$VVRFLDWLRQUHFHLYHVGRQDWLRQVIURPERDUGPHPEHUVZKRDUHFRQVLGHUHGUHODWHG SDUWLHVWRWKH$VVRFLDWLRQ7KH$VVRFLDWLRQDOVRKROGVFDVKDFFRXQWVDWDEDQNLQZKLFKDQ H[HFXWLYHDWWKHEDQNLVDERDUGPHPEHU
1RWH&RQFHQWUDWLRQV
$VLJQLILFDQWSRUWLRQRIWKH$VVRFLDWLRQ¶VUHYHQXHVDQGFRQWUDFWVDQGJUDQWVUHFHLYDEOH FRQVLVWVRI6WDWHRI&DOLIRUQLDDQGORFDOJRYHUQPHQWJUDQWVDQGFRQWUDFWV7KHVHUHYHQXHV DQGJUDQWVDUHHDUQHGE\WKH$VVRFLDWLRQEDVHGRQLWVVHUYLFHVWRFOLHQWVLQ6DQ/XLV2ELVSR &RXQW\)RUWKH\HDUVHQGHG'HFHPEHUDQGWKH$VVRFLDWLRQ¶VWRWDOSXEOLF VXSSRUWDQGUHYHQXHSURYLGHGE\JRYHUQPHQWFRQWUDFWVZDVDSSUR[LPDWHO\DQG UHVSHFWLYHO\
1RWH)LQDQFLDO$VVLVWDQFH3URYLGHG
7KH$VVRFLDWLRQSURYLGHVILQDQFLDODVVLVWDQFHWKURXJKFRQWULEXWLRQVDQGRWKHUIXQGUDLVLQJ WRKHOSGHIUD\WKHFRVWVRIPHPEHUVKLSDQGSURJUDPDQGRWKHUIHHVIRULQGLYLGXDOVZLWK QHHG0HPEHUVKLSGXHVDQGSURJUDPIHHVDUHUHFRUGHGQHWRIVXFKDVVLVWDQFHLQWKH DFFRPSDQ\LQJVWDWHPHQWVRIDFWLYLWLHV6XFKDPRXQWVZHUHDVIROORZVIRUWKH\HDUVHQGHG 'HFHPEHU

0HPEHUVKLSGXHV

/HVVILQDQFLDODVVLVWDQFHSURYLGHG

0HPEHUVKLSGXHVQHW

3URJUDPIHHV

/HVVILQDQFLDODVVLVWDQFHSURYLGHG

3URJUDPIHHVQHW

1RWH3D\UROO3URWHFWLRQ3URJUDP)XQGVDQG&29,'
,PSDFW
,Q)HEUXDU\WKH<0&$ZDVJUDQWHGDVHFRQGORDQXQGHUWKH333RIWKH&$5(6$FW LQWKHDJJUHJDWHDPRXQWRI,Q2FWREHUWKH<0&$ZDVJLYHQRIILFLDO IRUJLYHQHVVRIWKHORDQDPRXQWDVWKHIXQGVZHUHXVHGIRUTXDOLI\LQJH[SHQVHV Attachment 4
Council Agenda 8-20-2024 Item 3.A

6DQ/XLV2ELVSR&RXQW\<0&$,QF
1RWHVWR)LQDQFLDO6WDWHPHQWV

1RWH6XEVHTXHQW(YHQWV
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ttachment 4
Council Agenda 8-20-2024 Item 3.A

Attachment 4
Council Agenda 8-20-2024 Item 3.A

+H
D
O
W
K
\
/L
Y
L
Q
J
<R
X
W
K
7H
H
Q
V

$
I
W
H
U

6 F
K
R
R
O

'
D
\

&
D
P
S

$
F
W
L
Y
L
W
L
H
V

0 H
P
E
H
U
V
K
L
S

7 R
W
D
O
3H
U
V
R
Q
Q
H
O

F
R
V
W
V

6D
O
D
U
L
H
V

D
Q
G

Z
D
J
H
V

(P
S
O
R
\
H
H

E
H
Q
H
I
L
W
V

3D
\
U
R
O
O

W
D
[
H
V

7R
W
D
O

S
H
U
V
R
Q
Q
H
O

F
R
V
W
V

$I
I
L
O
L
D
W
H
G

I
D
L
U

V
K
D
U
H

I
H
H
V

D
Q
G

R
W
K
H
U

G
X
H
V

&
R
Q
W
U
D
F
W

V
H
U
Y
L
F
H
V

'H
S
U
H
F
L
D
W
L
R
Q

)L
H
O
G

W
U
L
S

D
G
P
L
V
V
L
R
Q
V

D
Q
G

V
X
S
S
O
L
H
V

)L
H
O
G

W
U
L
S

W
U
D
Y
H
O

,Q
V
X
U
D
Q
F
H

,7

D
Q
G

V
R
I
W
Z
D
U
H

V
H
U
Y
L
F
H
V

0D
Q
D
J
H
P
H
Q
W

I
H
H
V

U
H
O
D
W
H
G

S
D
U
W
\

D
Q
G

+
5

2F
F
X
S
D
Q
F
\

3R
V
W
D
J
H

3U
R
I
H
V
V
L
R
Q
D
O

V
H
U
Y
L
F
H
V

3U
R
J
U
D
P

I
H
H
V

V
S
R
U
W
V

3U
R
P
R
W
L
R
Q

D
Q
G

S
U
L
Q
W
L
Q
J

6P
D
O
O

H
T
X
L
S
P
H
Q
W

6 X
S
S
O
L
H
V

7H
O
H
S
K
R
Q
H

7R
W
D
O

Q
R
Q

S
H
U
V
R
Q
Q
H
O

F
R
V
W
V

7R
W
D
O

S
U
R
J
U
D
P

V
H
U
Y
L
F
H

H
[
S
H
Q
V
H
V

6D
Q

/
X
L
V

2 E
L
V
S
R

&
R
X
Q
W
\

<
0 &
$

,
Q
F

6F
K
H
G
X
O
H

R
I

3 U
R
J
U
D
P

6 H
U
Y
L
F
H

(
[
S
H
Q
V
H
V
<H
D
U

(
Q
G
H
G

'
H
F
H
P
E
H
U

<R
X
W
K

'
H
Y
H
O
R
S
P
H
Q
W

At
t
a
c
h
m
e
n
t

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

+H
D
O
W
K
\
/L
Y
L
Q
J
<R
X
W
K
7H
H
Q
V

$
I
W
H
U

6 F
K
R
R
O

'
D
\

&
D
P
S

$
F
W
L
Y
L
W
L
H
V

0 H
P
E
H
U
V
K
L
S

7 R
W
D
O
3H
U
V
R
Q
Q
H
O

F
R
V
W
V

6D
O
D
U
L
H
V

D
Q
G

Z
D
J
H
V

(P
S
O
R
\
H
H

E
H
Q
H
I
L
W
V

3D
\
U
R
O
O

W
D
[
H
V

7R
W
D
O

S
H
U
V
R
Q
Q
H
O

F
R
V
W
V

$I
I
L
O
L
D
W
H
G

I
D
L
U

V
K
D
U
H

I
H
H
V

D
Q
G

R
W
K
H
U

G
X
H
V

&R
Q
W
U
D
F
W

V
H
U
Y
L
F
H
V

'H
S
U
H
F
L
D
W
L
R
Q

)L
H
O
G

W
U
L
S

D
G
P
L
V
V
L
R
Q
V

D
Q
G

V
X
S
S
O
L
H
V

)L
H
O
G

W
U
L
S

W
U
D
Y
H
O

,Q
V
X
U
D
Q
F
H

,7

D
Q
G

V
R
I
W
Z
D
U
H

V
H
U
Y
L
F
H
V

2F
F
X
S
D
Q
F
\

3R
V
W
D
J
H

3U
R
P
R
W
L
R
Q

D
Q
G

S
U
L
Q
W
L
Q
J

6P
D
O
O

H
T
X
L
S
P
H
Q
W

6X
S
S
O
L
H
V

7H
O
H
S
K
R
Q
H

7R
W
D
O

Q
R
Q

S
H
U
V
R
Q
Q
H
O

F
R
V
W
V

7R
W
D
O

S
U
R
J
U
D
P

V
H
U
Y
L
F
H

H
[
S
H
Q
V
H
V

4 Co
u
n
c
i
l

A
gen
d
a

8 -
2 0
-
2 0
2 4
It
e
m

3 .

OrganizaƟon: SCORE San Luis Obispo Chapter of SCORE AssociaƟon Requested Funding: 2000
Previously received funding: Yes

Direct beneﬁt to the City of Pismo Beach: The establishment and development of small businesses in Pismo Beach with the assistance of SCORE leads to job creaƟon and increased tax and fee revenues for the City.

Support Fiscal 2024 & 2025 City Goals: A key enabler of achievement of the 24/25 City goals is economic vitality and ﬁscal solidity. SCORE's singular focus on small business success is a direct contributor to these two factors,
Priority of Needs: SCORE community events and chapter expenses. Other than paid part-Ɵme administraƟve support, all SCORE members are volunteers.

Program DescripƟon: We offer free mentoring and educaƟonal services to small businesses at all stages of their life cycle. Our scope of services fosters the establishment and growth of small businesses with direct residual beneﬁts in the form of economic vitality for the communiƟes we serve.

Point of Contact: Tom Thompson, Chapter Co-Chair
Fiscal Year 2025 Outside Agency Request

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6
$662&,$7,21$1'$)),/,$7(

&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV
$QG,QGHSHQGHQW$XGLWRU¶V5HSRUW
<HDUV(QGHG6HSWHPEHUDQG

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( &2162/,'$7('),1$1&,$/67$7(0(176
<($56(1'('6(37(0%(5$1'

7$%/(2)&217(176

3DJH
,QGHSHQGHQW$XGLWRU
V5HSRUW &RQVROLGDWHG)LQDQFLDO6WDWHPHQWV
&RQVROLGDWHG6WDWHPHQWVRI)LQDQFLDO3RVLWLRQ &RQVROLGDWHG6WDWHPHQWVRI$FWLYLWLHV &RQVROLGDWHG6WDWHPHQWVRI&DVK)ORZV 1RWHVWR&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV 6XSSOHPHQWDU\,QIRUPDWLRQ
&RQVROLGDWLQJ6FKHGXOHVRI)LQDQFLDO3RVLWLRQ &RQVROLGDWLQJ6FKHGXOHVRI$FWLYLWLHV
Attachment 4
Council Agenda 8-20-2024 Item 3.A

)RUEHV%OYG
6XLWH
/DQKDP0'
ZZZZDWVRQULFHFRP
7HOHSKRQH

,QGHSHQGHQW$XGLWRUV
5HSRUW
%RDUGRI'LUHFWRUV
6HUYLFH&RUSVRI5HWLUHG([HFXWLYHV$VVRFLDWLRQ DQG$IILOLDWH 2SLQLRQ
:HKDYHDXGLWHGWKHDFFRPSDQ\LQJFRQVROLGDWHGILQDQFLDOVWDWHPHQWVRI6HUYLFH&RUSVRI5HWLUHG ([HFXWLYHV$VVRFLDWLRQDQG$IILOLDWH
WKH2UJDQL]DWLRQ

QRQSURILWRUJDQL]DWLRQ
ZKLFKFRPSULVH
WKHFRQVROLGDWHGVWDWHPHQWV RIILQDQFLDOSRVLWLRQDVRI6HSWHPEHU DQGDQGWKH UHODWHGFRQVROLGDWHGVWDWHPHQWVRIDFWLYLWLHVDQGFDVKIORZVIRUWKH\HDUVWKHQHQGHGDQGWKHUHODWHG QRWHVWRWKHFRQVROLGDWHGILQDQFLDOVWDWHPHQWV
,QRXURSLQLRQWKHFRQVROLGDWHGILQDQFLDOVWDWHPHQWVUHIHUUHGWRDERYHSUHVHQWIDLUO\LQDOOPDWHULDO UHVSHFWVWKHILQDQFLDOSRVLWLRQRI6HUYLFH&RUSVRI5HWLUHG([HFXWLYHV$VVRFLDWLRQDQG$IILOLDWH DVRI6HSWHPEHU DQGDQGWKHFKDQJH LQWKHLUQHWDVVHWVDQGWKHLUFDVKIORZVIRUWKH \HDUV WKHQHQGHGLQDFFRUGDQFHZLWKDFFRXQWLQJSULQFLSOHVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHV RI$PHULFD
%DVLVIRU2SLQLRQ
:HFRQGXFWHGRXUDXGLWV LQDFFRUGDQFHZLWKDXGLWLQJVWDQGDUGVJHQHUDOO\DFFHSWHGLQWKH8QLWHG 6WDWHVRI$PHULFD
*$$6
2XUUHVSRQVLELOLWLHVXQGHUWKRVHVWDQGDUGVDUHIXUWKHUGHVFULEHGLQWKH $XGLWRU
V5HVSRQVLELOLWLHVIRUWKH$XGLWRIWKH&RQVROLGDWHG)LQDQFLDO6WDWHPHQWVVHFWLRQRIRXU UHSRUW:HDUHUHTXLUHGWREHLQGHSHQGHQWRIWKH2UJDQL]DWLRQ DQGWRPHHWRXURWKHUHWKLFDO UHVSRQVLELOLWLHVLQDFFRUGDQFHZLWKWKHUHOHYDQWHWKLFDOUHTXLUHPHQWVUHODWLQJWRRXUDXGLWV:H EHOLHYHWKDWWKHDXGLWHYLGHQFHZHKDYHREWDLQHGLVVXIILFLHQWDQGDSSURSULDWHWRSURYLGHDEDVLV IRURXUDXGLWRSLQLRQ
5HVSRQVLELOLWLHVRI0DQDJHPHQWIRUWKH&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV 0DQDJHPHQWLVUHVSRQVLEOHIRUWKHSUHSDUDWLRQDQGIDLUSUHVHQWDWLRQRIWKHVHFRQVROLGDWHGILQDQFLDO VWDWHPHQWVLQDFFRUGDQFHZLWKDFFRXQWLQJSULQFLSOHVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHVRI $PHULFDDQGIRUWKHGHVLJQLPSOHPHQWDWLRQDQGPDLQWHQDQFHRILQWHUQDOFRQWUROUHOHYDQWWRWKH SUHSDUDWLRQDQGIDLUSUHVHQWDWLRQRIILQDQFLDOVWDWHPHQWVWKDWDUHIUHHIURPPDWHULDOPLVVWDWHPHQW ZKHWKHUGXHWRIUDXGRUHUURU
,QSUHSDULQJWKHFRQVROLGDWHGILQDQFLDOVWDWHPHQWVPDQDJHPHQWLVUHTXLUHGWRHYDOXDWHZKHWKHU WKHUHDUHFRQGLWLRQVRUHYHQWVFRQVLGHUHGLQWKHDJJUHJDWHWKDWUDLVHVXEVWDQWLDOGRXEWDERXWWKH 2UJDQL]DWLRQ¶VDELOLW\WRFRQWLQXHDVDJRLQJFRQFHUQIRURQH\HDUIURPWKHGDWHRIRXUUHSRUW Attachment 4
Council Agenda 8-20-2024 Item 3.A

$XGLWRU¶V5HVSRQVLELOLWLHVIRUWKH$XGLWRIWKH&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV 2XU REMHFWLYHV DUH WR REWDLQ UHDVRQDEOH DVVXUDQFH DERXW ZKHWKHU WKH FRQVROLGDWHG ILQDQFLDO VWDWHPHQWVDVDZKROHDUHIUHHIURPPDWHULDOPLVVWDWHPHQWZKHWKHUGXHWRIUDXGRUHUURUDQGWR LVVXH DQ DXGLWRU¶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

,QSHUIRUPLQJDQDXGLWLQDFFRUGDQFHZLWK*$$6ZH

([HUFLVHSURIHVVLRQDOMXGJPHQWDQGPDLQWDLQSURIHVVLRQDOVNHSWLFLVPWKURXJKRXWWKH DXGLW
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¶V LQWHUQDO FRQWURO $FFRUGLQJO\QRVXFKRSLQLRQLVH[SUHVVHG
(YDOXDWHWKHDSSURSULDWHQHVVRIDFFRXQWLQJSROLFLHVXVHGDQGWKHUHDVRQDEOHQHVVRI VLJQLILFDQWDFFRXQWLQJHVWLPDWHVPDGHE\PDQDJHPHQWDVZHOODVHYDOXDWHWKHRYHUDOO SUHVHQWDWLRQRIWKHFRQVROLGDWHGILQDQFLDOVWDWHPHQWV &RQFOXGHZKHWKHULQRXUMXGJPHQWWKHUHDUHFRQGLWLRQVRUHYHQWVFRQVLGHUHGLQWKH DJJUHJDWHWKDWUDLVHVXEVWDQWLDOGRXEWDERXWWKH2UJDQL]DWLRQ¶VDELOLW\WRFRQWLQXHDVD JRLQJFRQFHUQIRUDUHDVRQDEOHSHULRGRIWLPH

:HDUHUHTXLUHGWRFRPPXQLFDWHZLWKWKRVHFKDUJHGZLWKJRYHUQDQFHUHJDUGLQJDPRQJRWKHU PDWWHUVWKHSODQQHGVFRSHDQGWLPLQJRIWKHDXGLWVLJQLILFDQWDXGLWILQGLQJVDQGFHUWDLQLQWHUQDO FRQWUROUHODWHGPDWWHUVWKDWZHLGHQWLILHGGXULQJWKHDXGLW
6XSSOHPHQWDU\,QIRUPDWLRQ
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ttachment 4
Council Agenda 8-20-2024 Item 3.A

FRQVROLGDWHGILQDQFLDOVWDWHPHQWVRUWRWKHFRQVROLGDWHGILQDQFLDOVWDWHPHQWVWKHPVHOYHVDQGRWKHU DGGLWLRQDOSURFHGXUHVLQDFFRUGDQFHZLWKDXGLWLQJVWDQGDUGVJHQHUDOO\DFFHSWHGLQWKH8QLWHG 6WDWHVRI$PHULFD,QRXURSLQLRQWKHFRQVROLGDWLQJLQIRUPDWLRQLVIDLUO\VWDWHGLQDOOPDWHULDO UHVSHFWVLQUHODWLRQWRWKHFRQVROLGDWHGILQDQFLDOVWDWHPHQWVDVDZKROH

/DQKDP0DU\ODQG
'HFHPEHU

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 67$7(0(1762)),1$1&,$/326,7,21
6(37(0%(5$1'

6HHDFFRPSDQ\LQJQRWHVWRILQDQFLDOVWDWHPHQWV

$66(76
&XUUHQWDVVHWV

&DVKDQGFDVKHTXLYDOHQWV

,QYHVWPHQWV

*UDQWUHFHLYDEOH

$FFRXQWVUHFHLYDEOH

3URPLVHVWRJLYHQHW

3UHSDLGH[SHQVHVDQGGHSRVLWV

7RWDOFXUUHQWDVVHWV
1RQFXUUHQWDVVHWV

3URPLVHVWRJLYHDIWHURQH\HDUQHW

3URSHUW\SODQWDQGHTXLSPHQWQHW

528OHDVHDVVHWQHW

7RWDOQRQFXUUHQWDVVHWV

/,$%,/,7,(6$1'1(7$66(76
&XUUHQWOLDELOLWLHV

$FFRXQWVSD\DEOHDQGDFFUXHGH[SHQVHV

$FFUXHGSD\UROODQGUHODWHGOLDELOLWLHV $FFUXHGYDFDWLRQ

528OHDVHOLDELOLW\FXUUHQW 'HIHUUHGUHYHQXH

7RWDOFXUUHQWOLDELOLWLHV

1RQFXUUHQWOLDELOLWLHV

528OHDVHOLDELOLW\ 3OHGJHV3D\DEOH 7RWDOQRQFXUUHQWOLDELOLWLHV 1HWDVVHWV

1HWDVVHWVZLWKRXWGRQRUUHVWULFWLRQV

1HWDVVHWVZLWKGRQRUUHVWULFWLRQV

7RWDOQHWDVVHWV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 67$7(0(1762)$&7,9,7,(6
<($56(1'('6(37(0%(5$1'

6HHDFFRPSDQ\LQJQRWHVWRILQDQFLDOVWDWHPHQWV

:LWKRXW'RQRU :LWK'RQRU :LWKRXW'RQRU :LWK'RQRU
5HVWULFWLRQV 5HVWULFWLRQV 7RWDO 5HVWULFWLRQV 5HVWULFWLRQV 7RWDO 5HYHQXHDQGVXSSRUW

86JRYHUQPHQWJUDQW

&KDSWHUSURJUDPUHYHQXH 'RQDWHGIDFLOLWLHVJRRGVDQGVHUYLFHV

*LIWVDQGJUDQWV

(YHQWVDQGVSHFLDOSURMHFWV

,QWHUHVWDQGRWKHU

1HWDVVHWVUHOHDVHGIURPUHVWULFWLRQV

7RWDOUHYHQXHDQGVXSSRUW

([SHQVHV

)LHOGH[SHQVHV

'RQDWHGIDFLOLWLHVJRRGVDQGVHUYLFHV

6DODULHVDQGIULQJHEHQHILWV &KDSWHUFOHULFDOVXSSRUW 7HFKQRORJ\DQGZHEVLWH

0DUNHWLQJ 3URIHVVLRQDOVHUYLFHV

%RDUGH[SHQVHV

6WDIIWUDYHO

9ROXQWHHUVHUYLFHVDQGILHOGVWDII *RYHUQPHQWUHODWLRQV 2IILFHVXSSOLHV 1DWLRQDOOHDGHUVKLSFRQIHUHQFH

2WKHU

3ULQWLQJDQGVXSSOLHV

3RVWDJH

%DGGHEWH[SHQVH /LFHQVHVDQGUHJLVWUDWLRQV

6RIWZDUHOLFHQVH %DQNIHHV ,QVXUDQFH

3URVSHFWUHVHDUFK

6&25(SURJUDPVXSSRUW 7RWDOH[SHQVHV &KDQJHLQQHWDVVHWV

1HWDVVHWVEHJLQQLQJRI\HDU

1HWDVVHWVHQGRI\HDU

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 67$7(0(1762)&$6+)/2:6
<($56(1'('6(37(0%(5$1'

6HHDFFRPSDQ\LQJQRWHVWRILQDQFLDOVWDWHPHQWV

&DVKIORZVIURPRSHUDWLQJDFWLYLWLHV

&KDQJHLQQHWDVVHWV

$GMXVWPHQWVWRUHFRQFLOHFKDQJHLQQHWDVVHWVWR
QHWFDVKIURPRSHUDWLQJDFWLYLWLHV

'HSUHFLDWLRQH[SHQVH %DGGHEWH[SHQVH 1HWXQUHDOL]HG
JDLQ
ORVVRQLQYHVWPHQWV

&KDQJHLQ

*UDQWUHFHLYDEOH

$FFRXQWVUHFHLYDEOH 3URPLVHVWRJLYH

3UHSDLGH[SHQVHVDQGGHSRVLWV

$FFRXQWVSD\DEOHDQGDFFUXHGH[SHQVHV

'HIHUUHGUHYHQXH

1HWFDVKIURPRSHUDWLQJDFWLYLWLHV

&DVKIORZVIURPLQYHVWLQJDFWLYLWLHV

3XUFKDVHRISURSHUW\SODQWDQGHTXLSPHQW

&DVKIORZVIURPILQDQFLQJDFWLYLWLHV

6DOHRILQYHVWPHQWV

3XUFKDVHRILQYHVWPHQWV

1HWFDVKIURPILQDQFLQJDFWLYLWLHV

1HWFKDQJHLQFDVKDQGFDVKHTXLYDOHQWV

&DVKDQGFDVKHTXLYDOHQWVEHJLQQLQJRI\HDU

&DVKDQGFDVKHTXLYDOHQWVHQGRI\HDU

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( 25*$1,=$7,21$1'1$785(2)$&7,9,7,(6

7KHFRQVROLGDWHGILQDQFLDOVWDWHPHQWVLQFOXGHWKHDFFRXQWVRI6HUYLFH&RUSVRI 5HWLUHG ([HFXWLYHV $VVRFLDWLRQ
6&25(
DQG WKH 6&25( )RXQGDWLRQ

)RXQGDWLRQ
FROOHFWLYHO\UHIHUUHGWRDV³2UJDQL]DWLRQ´(DFKHQWLW\KDVDVHSDUDWH JRYHUQLQJ %RDUG DV GHILQHG E\ WKHLU %\ODZV 7KH ILQDQFLDO VWDWHPHQWV DUH FRQVROLGDWHGLQDFFRUGDQFHZLWKDFFRXQWLQJVWDQGDUGVEHFDXVHRI6&25(¶VYRWLQJ DQGHFRQRPLFLQWHUHVWLQWKH)RXQGDWLRQDQGWKHSXUSRVHRIWKH)RXQGDWLRQZKLFK LVVHUYLQJDVWKHSKLODQWKURSLFDUPRI6&25(LQDVVLVWLQJ6&25(WRDFKLHYHLWV REMHFWLYHV$FFRUGLQJO\WKH6&25(ILQDQFLDOVWDWHPHQWVKDYHEHHQFRQVROLGDWHG ZLWK WKH VWDWHPHQWV RI 6&25( )RXQGDWLRQ DQG LQWHUFRPSDQ\ DFFRXQWV DQG WUDQVDFWLRQVKDYHEHHQHOLPLQDWHGLQWKHFRQVROLGDWHGILQDQFLDOVWDWHPHQWV
6&25(LVDQRWIRUSURILWRUJDQL]DWLRQFKDUWHUHGE\DQ$FWRIWKH86&RQJUHVVLQ
WRSURYLGHWHFKQLFDODQGPDQDJHULDOJXLGDQFHWRWKHEXVLQHVVFRPPXQLW\ SURILWDQGQRWIRUSURILWRUJDQL]DWLRQVDQGSURVSHFWLYHHQWUHSUHQHXUVWKURXJKWKH XVHRIYROXQWHHUFRXQVHORUV6&25(LVSULPDULO\VXSSRUWHGE\DJRYHUQPHQWJUDQW ZRUNVKRS IHHV DQG FRQWULEXWLRQV 6&25( UHFHLYHV D PDMRULW\ RI LWV ILQDQFLDO VXSSRUWIURPWKH866PDOO%XVLQHVV$GPLQLVWUDWLRQ
6%$
,I6&25(ZHUHWR
H[SHULHQFHDUHGXFWLRQLQIXQGLQJIURPWKHJUDQW6&25(¶VRSHUDWLRQVFRXOGEH DIIHFWHGVLJQLILFDQWO\

6&25(LVKHDGTXDUWHUHGLQ+HUQGRQ9LUJLQLDZLWKRYHUFKDSWHUVZKLFKDUH ORFDWHGWKURXJKRXWWKH8QLWHG6WDWHVLWVWHUULWRULHVDQGSRVVHVVLRQVVHUYLQJWKH VPDOOEXVLQHVVFRPPXQLW\

7KHDIILOLDWH6&25()RXQGDWLRQLVDQRWIRUSURILWRUJDQL]DWLRQZKRVHSULPDU\ SXUSRVH LV WR HQVXUH D ODVWLQJ OHJDF\ RI EXVLQHVV FRXQVHOLQJ DQG WUDLQLQJ IRU VXFFHVVIXO$PHULFDQVPDOOEXVLQHVVHVE\VXSSRUWLQJ6&25(DQGLWVYROXQWHHU FRUSV7KH)RXQGDWLRQLVSULPDULO\VXSSRUWHGE\FRQWULEXWLRQV
127( 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6

%DVLVRIDFFRXQWLQJ
7KHILQDQFLDOVWDWHPHQWVKDYHEHHQSUHSDUHGRQWKHDFFUXDOEDVLVRIDFFRXQWLQJ $FFRUGLQJO\ LQFRPH LV UHFRJQL]HGZKHQ HDUQHG DQG H[SHQVHV ZKHQ LQFXUUHG UHJDUGOHVVRIWKHWLPLQJRIUHFHLSWVDQGSD\PHQWV

%DVLVRISUHVHQWDWLRQ
7KHRUJDQL]DWLRQLVUHTXLUHGWRUHSRUWLQIRUPDWLRQUHJDUGLQJLWVILQDQFLDOSRVLWLRQ DQGDFWLYLWLHVEDVHGRQWKHH[LVWHQFHRUDEVHQFHRIGRQRULPSRVHGUHVWULFWLRQV $FFRUGLQJO\WKHILQDQFLDOVWDWHPHQWVUHSRUWVHSDUDWHO\E\FODVVRIQHWDVVHWVDV

IROORZV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&RQWLQXHG

1HW DVVHWV ZLWKRXW GRQRU UHVWULFWLRQV ± QRW VXEMHFW WR GRQRULPSRVHG UHVWULFWLRQVDQGPD\EHH[SHQGHGIRUDQ\SXUSRVHLQSHUIRUPLQJWKHSULPDU\ REMHFWLYHVRIWKHRUJDQL]DWLRQ7KHVHQHWDVVHWVPD\EHXVHGDWWKHGLVFUHWLRQ RI6&25(¶VPDQDJHPHQWDQGWKHERDUGRIGLUHFWRUV

1HW DVVHWV ZLWK GRQRU UHVWULFWLRQV ± VXEMHFW WRVWLSXODWLRQV LPSRVHG E\ GRQRUVDQGJUDQWRUV6RPHGRQRUUHVWULFWLRQVDUHWHPSRUDU\LQQDWXUH WKRVH
UHVWULFWLRQVZLOOEHPHWE\DFWLRQVRI6&25(RUE\WKHSDVVDJHRIWLPH 2WKHUGRQRUUHVWULFWLRQVDUHSHUSHWXDOLQQDWXUHZKHUHE\WKHGRQRUKDV VWLSXODWHGWKHIXQGVEHPDLQWDLQHGLQSHUSHWXLW\

3XEOLFVXSSRUWDQGUHYHQXH
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¶VHYDOXDWLRQ RISRWHQWLDOXQFROOHFWLEOHSURPLVHVUHFHLYDEOHDW\HDUHQG
7KH 2UJDQL]DWLRQ UHFHLYHV JUDQW IXQGLQJ IURP D IHGHUDO DJHQF\ IRU YDULRXV SXUSRVHV*UDQWUHYHQXHVQRW\HWUHFHLYHGDUHDFFUXHGWRWKHH[WHQWXQUHLPEXUVHG H[SHQVHVKDYHEHHQLQFXUUHGIRUWKHSXUSRVHVVSHFLILHGE\DQDSSURYHGJUDQW7KH 2UJDQL]DWLRQGHIHUVJUDQWUHYHQXHVRUDGYDQFHVUHFHLYHGXQGHUDSSURYHGDZDUGV IURPJUDQWRUVWRWKHH[WHQWWKH\H[FHHGH[SHQVHVLQFXUUHGIRUWKHSXUSRVHVVSHFLILHG XQGHUWKHJUDQWUHVWULFWLRQV

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

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&RQWLQXHG

,QNLQGFRQWULEXWLRQV
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¶VSURJUDPREMHFWLYHV7KHHVWLPDWHGYDOXHRIWKHVH GRQDWHGVHUYLFHVLVQRWUHIOHFWHGLQWKHFRQVROLGDWHGILQDQFLDOVWDWHPHQWVDVWKH VHUYLFHVGRQRWPHHWWKHFULWHULDIRUUHFRJQLWLRQDVFRQWULEXWHGVHUYLFHV
&DVKDQGFDVKHTXLYDOHQWV
)RUSXUSRVHVRIUHSRUWLQJFDVKIORZVWKH2UJDQL]DWLRQFRQVLGHUVDOOVKRUWWHUPGHEW VHFXULWLHVSXUFKDVHGZLWKDQRULJLQDOPDWXULW\RIWKUHHPRQWKVRUOHVVWREHFDVK HTXLYDOHQWV

,QYHVWPHQWLQHTXLWLHV
0DUNHWDEOHVHFXULWLHVZLWKUHDGLO\GHWHUPLQDEOHIDLUYDOXHDUHYDOXHGDWWKHLUIDLU YDOXHLQWKHVWDWHPHQWRIILQDQFLDOSRVLWLRQ(TXLWLHVDUHYDOXHGDWWKHLUTXRWHG SULFHVLQDFWLYHPDUNHWVDWWKH\HDUHQG8QUHDOL]HGJDLQVDQGORVVHVDUHLQFOXGHGLQ WKHFKDQJHRIQHWDVVHWV

$FFRXQWVUHFHLYDEOH
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¶VDVVHVVPHQWZDVWKDWDOORXWVWDQGLQJEDODQFHVZHUH FROOHFWLEOH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&RQWLQXHG

3URSHUW\3ODQWDQG(TXLSPHQW
6&25(FDSLWDOL]HVSURSHUW\DQGHTXLSPHQWDFTXLUHGZLWKDYDOXHJUHDWHUWKDQ 0DLQWHQDQFHDQGUHSDLUVWKDWGRQRWLPSURYHRUH[WHQGWKHOLYHVRISURSHUW\ DQGHTXLSPHQWDUHFKDUJHGWRH[SHQVHDVLQFXUUHG3URSHUW\SODQWDQGHTXLSPHQW DUHGHSUHFLDWHGRQDVWUDLJKWOLQHEDVLVRYHUWKHXVHIXOOLIHRIWKHDVVHW'HSUHFLDWLRQ H[SHQVHZDVDQGIRUWKH\HDUVHQGHG6HSWHPEHUDQG UHVSHFWLYHO\

,PSDLUPHQWRIORQJOLYHGDVVHWV
6&25( FRQWLQXDOO\ PRQLWRUV HYHQWV DQG FKDQJHV LQ FLUFXPVWDQFHVWKDW FRXOG LQGLFDWHFDUU\LQJDPRXQWVRIORQJOLYHGDVVHWVPD\QRWEHUHFRYHUDEOH6&25(¶V ORQJOLYHGDVVHWVLQFOXGHLQWHUQDOXVHFRPSXWHUVRIWZDUH0DQDJHPHQWFRQVLGHUV WKHIROORZLQJHYHQWVRUFKDQJHVLQFLUFXPVWDQFHVWRLQGLFDWHWKDWWKHFDUU\LQJ DPRXQWRILWVLQWHUQDOXVHFRPSXWHUVRIWZDUHPD\QRWEHUHFRYHUDEOH D
LQWHUQDO
XVHFRPSXWHUVRIWZDUHLVQRWH[SHFWHGWRSURYLGHVXEVWDQWLYHVHUYLFHSRWHQWLDO E

DVLJQLILFDQWFKDQJHRFFXUVLQWKHH[WHQWRUPDQQHULQZKLFKWKHVRIWZDUHLVXVHGRU LVH[SHFWHGWREHXVHG
F
DVLJQLILFDQWFKDQJHLVPDGHRUZLOOEHPDGHWRWKH
VRIWZDUH SURJUDP
G
FRVWV RI GHYHORSLQJ RU PRGLI\LQJ LQWHUQDOXVH FRPSXWHU VRIWZDUHVLJQLILFDQWO\H[FHHGWKHDPRXQWRULJLQDOO\H[SHFWHGWRGHYHORSRUPRGLI\ WKHVRIWZDUH,PSDLUHGDVVHWVDUHUHFRUGHGDWWKHORZHURIFDUU\LQJFRVWRUIDLUYDOXH
)LHOGIXQGV
&HUWDLQSURJUDPJHQHUDWHGIXQGVPDLQWDLQHGDWWKHFKDSWHUOHYHODUHFRQVLGHUHG GRQRUUHVWULFWHGE\SXUSRVHIRUSURJUDPDFWLYLWLHVLQDFFRUGDQFHZLWKWKH6%$ FRQWUDFW

,QFRPHWD[HV
7KH2UJDQL]DWLRQLVH[HPSWIURPIHGHUDODQGVWDWHLQFRPHWD[HVRQLQFRPHRWKHU WKDQXQUHODWHGEXVLQHVVLQFRPHXQGHUWKHSURYLVLRQVRI6HFWLRQ F

RIWKH
,QWHUQDO5HYHQXH&RGH1RSURYLVLRQIRUIHGHUDODQGVWDWHLQFRPHWD[HVLVUHTXLUHG DW6HSWHPEHUDQGDVWKH2UJDQL]DWLRQKDGQRQHWXQUHODWHGEXVLQHVV LQFRPH

7KH 2UJDQL]DWLRQ UHFRJQL]HV WKH HIIHFW RI LQFRPH WD[ SRVLWLRQVRQO\ LI WKRVH SRVLWLRQV DUH PRUH OLNHO\ WKDQ QRW RI EHLQJ VXVWDLQHG 7KH 2UJDQL]DWLRQ KDV GHWHUPLQHG WKDW LW GRHV QRW KDYH DQ\ PDWHULDO XQUHFRJQL]HG WD[EHQHILWV RU REOLJDWLRQVDVRI6HSWHPEHUDQG

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&RQWLQXHG

)XQFWLRQDOH[SHQVH
7KHFRVWVRISURYLGLQJYDULRXVSURJUDPVDQGRWKHUDFWLYLWLHVKDYHEHHQVXPPDUL]HG RQ D IXQFWLRQDO EDVLV LQ WKH FRQVROLGDWHG VWDWHPHQW RI DFWLYLWLHV $FFRUGLQJO\ FHUWDLQFRVWVKDYHEHHQDOORFDWHGDPRQJWKHSURJUDPDQGVXSSRUWLQJVHUYLFHV 3HUVRQQHOFRVWVDUHDOORFDWHGRQDWLPHDQGHIIRUWEDVLV$OORWKHUH[SHQVHVDUH GLUHFWO\FKDUJHGWRWKHDSSOLFDEOHIXQFWLRQDOFDWHJRU\
(VWLPDWHV
7KHSUHSDUDWLRQRIFRQVROLGDWHGILQDQFLDOVWDWHPHQWVLQFRQIRUPLW\ZLWKDFFRXQWLQJ SULQFLSOHVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFDUHTXLUHVPDQDJHPHQW WRPDNHHVWLPDWHVDQGDVVXPSWLRQVWKDWDIIHFWWKHUHSRUWHGDPRXQWVRIDVVHWVDQG OLDELOLWLHV DQG GLVFORVXUH RI FRQWLQJHQW DVVHWV DQG OLDELOLWLHV DW WKH GDWH RI WKH FRQVROLGDWHG ILQDQFLDO VWDWHPHQWV DQG WKH UHSRUWHG DPRXQWV RI UHYHQXHV DQG H[SHQVHV GXULQJ WKH UHSRUWLQJ SHULRG $FWXDO UHVXOWV FRXOG GLIIHU IURP WKRVH HVWLPDWHVDQGDVVXPSWLRQV

6XEVHTXHQWHYHQWV
,Q SUHSDULQJ WKHVH FRQVROLGDWHG ILQDQFLDO VWDWHPHQWV WKH 2UJDQL]DWLRQ KDV HYDOXDWHGHYHQWVDQGWUDQVDFWLRQVIRUSRWHQWLDOUHFRJQLWLRQRUGLVFORVXUHWKURXJK 'HFHPEHUWKHGDWHWKHFRQVROLGDWHGILQDQFLDOVWDWHPHQWVZHUHDYDLODEOH WREHLVVXHG

1HZDFFRXQWLQJSURQRXQFHPHQW

/HDVHV
,Q )HEUXDU\ WKH )$6% LVVXHG $68 Leases 8QGHU WKH QHZ VWDQGDUGVOHVVHHVZLOOQHHGWRUHFRJQL]HDULJKWRIXVHDVVHWDQGDOHDVHOLDELOLW\IRU YLUWXDOO\DOOWKHLUOHDVHV
RWKHUWKDQOHDVHVWKDWPHHWWKHGHILQLWLRQRIDVKRUWWHUP OHDVH
7KHOLDELOLW\ZLOOEHHTXDOWRWKHSUHVHQWYDOXHRIOHDVHSD\PHQWV)RULQFRPH VWDWHPHQWSXUSRVHVWKH)$6%FRQWLQXHGWKHGXDOPRGHOUHTXLULQJOHDVHVWREH FODVVLILHGDVHLWKHURSHUDWLQJRUILQDQFH2SHUDWLQJOHDVHVZLOOUHVXOWLQVWUDLJKWOLQH H[SHQVH
VLPLODUWRFXUUHQWRSHUDWLQJOHDVHV
ZKLOHILQDQFHOHDVHVZLOOUHVXOWLQD
IURQWORDGHGH[SHQVHSDWWHUQ
VLPLODUWRFXUUHQWFDSLWDOOHDVHV
&ODVVLILFDWLRQZLOO
EH EDVHG RQ FULWHULD WKDW DUH ODUJHO\ VLPLODU WR WKRVH DSSOLHGWR FXUUHQW OHDVH DFFRXQWLQJ([WHQVLYHTXDQWLWDWLYHDQGTXDOLWDWLYHGLVFORVXUHVZLOOEHUHTXLUHGWR SURYLGHJUHDWHULQVLJKWLQWRWKHH[WHQWRIUHYHQXHDQGH[SHQVHUHFRJQL]HGDQG H[SHFWHGWREHUHFRJQL]HGIURPH[LVWLQJFRQWUDFWV7KHQHZVWDQGDUGZDVHIIHFWLYH IRU WKH 2UJDQL]DWLRQ FRPPHQFLQJ 2FWREHU 7KLV KDV EHHQDGRSWHG
WKHUHIRUHD528DVVHWDQGWKHUHODWHGOLDELOLW\LVQRZUHIOHFWHGLQWKHILQDQFLDO VWDWHPHQWV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( &$6+$1'&$6+(48,9$/(176

&DVKDQGFDVKHTXLYDOHQWVFRQVLVWHGRIWKHIROORZLQJ

&DVKKHOGE\6&25(KHDGTXDUWHUV

&DVKKHOGE\6&25()RXQGDWLRQ

&RQFHQWUDWLRQRIFUHGLWULVN
)LQDQFLDOLQVWUXPHQWVZKLFKSRWHQWLDOO\VXEMHFWWKH2UJDQL]DWLRQWRFRQFHQWUDWLRQV RIFUHGLWULVNFRQVLVWSULQFLSDOO\RIFDVKDQGFDVKHTXLYDOHQWV
7KH2UJDQL]DWLRQPDLQWDLQVFDVKLQEDQNGHSRVLWDFFRXQWVZKLFKDWWLPHVPD\ H[FHHG WKH )HGHUDO 'HSRVLW ,QVXUDQFH &RUSRUDWLRQ
)',&
LQVXUDQFH OLPLW $W
6HSWHPEHUDQG

DQGZHUHLQH[FHVVRIWKH
)HGHUDO'HSRVLW,QVXUDQFH&RUSRUDWLRQ
)',&
LQVXUDQFHOLPLWUHVSHFWLYHO\7KH
2UJDQL]DWLRQKDVQRWH[SHULHQFHGDQ\ORVVHVDVDUHVXOWRIWKHFRQFHQWUDWLRQ
127( 3520,6(672*,9(

3URPLVHVWRJLYHWKDWDUHH[SHFWHGWREHUHFHLYHGZLWKLQRQH\HDUDUHUHSRUWHGDW WKHLUQHWUHDOL]DEOHYDOXH

7KH2UJDQL]DWLRQDQWLFLSDWHVFROOHFWLRQRIRXWVWDQGLQJSURPLVHVWRJLYHDVIROORZV

5HFHLYDEOHLQOHVVWKDQRQH\HDU 5HFHLYDEOHLQRQHWRILYH\HDUV

7RWDOSURPLVHVWRJLYH

/HVVGLVFRXQWVWRQHWSUHVHQWYDOXH

/HVVDOORZDQFHIRUXQFROOHFWLEOHSURPLVHV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( 3520,6(672*,9(
&RQWLQXHG

7KH 2UJDQL]DWLRQ¶V FKDQJH LQ WKH DOORZDQFH IRU XQFROOHFWLEOH SURPLVHV LV DV

IROORZV

%HJLQQLQJRI\HDU $GGLWLRQVEDGGHEWH[SHQVH /HVVSURPLVHVWRJLYHZULWHRIIV

(QGRI\HDU

127( /,1(2)&5(',7

6&25(KDVDXQVHFXUHGEDQNOLQHRIFUHGLWZLWKDPDWXULW\GDWHRI -DQXDU\$PRXQWVERUURZHGXQGHUWKHVHDJUHHPHQWVEHDULQWHUHVWDWWKH LQWHUHVWUDWHRIWKH%%$/,%25'DLO\)ORDWLQJ5DWHSOXV DQG
DW6HSWHPEHUDQGUHVSHFWLYHO\
$VRI6HSWHPEHU
DQGZDVGUDZQRQWKHOLQHRIFUHGLW

127( )$,59$/8(0($685(0(17

7KH 2UJDQL]DWLRQ IROORZV )$6% $6& Fair Value Measurements & Disclosures,QDFFRUGDQFHZLWK$6&IDLUYDOXHLVGHILQHGDVWKHSULFHWKDWWKH )RXQGDWLRQ ZRXOG KDYH UHFHLYHG XSRQ VHOOLQJ DQ LQYHVWPHQW LQ DQ RUGHUO\ WUDQVDFWLRQWRDQLQGHSHQGHQWEX\HULQWKHSULQFLSDORUPRVWDGYDQWDJHRXVPDUNHW RIWKHLQYHVWPHQW)$6%$6&HVWDEOLVKHGDWKUHHWLHUKLHUDUFK\WRPD[LPL]H WKHXVHRIREVHUYDEOHPDUNHWGDWDDQGPLQLPL]HWKHXVHRIXQREVHUYDEOHLQSXWVDQG WRHVWDEOLVKFODVVLILFDWLRQRIIDLUYDOXHPHDVXUHPHQWVIRUGLVFORVXUHSXUSRVHV
7KHWKUHHWLHUKLHUDUFK\RILQSXWVLVVXPPDUL]HGLQWKHWKUHHEURDGOHYHOVOLVWHG EHORZ

/HYHO±TXRWHGLQDFWLYHPDUNHWVIRULGHQWLFDOLQYHVWPHQWV
/HYHO±RWKHUVLJQLILFDQWREVHUYDEOHLQSXWV
LQFOXGLQJTXRWHGSULFHVIRU
VLPLODULQYHVWPHQWVLQWHUHVWUDWHVSUHSD\PHQWVSHHGVFUHGLWULVNHWF

/HYHO±VLJQLILFDQWXQREVHUYDEOHLQSXWV
LQFOXGLQJWKH2UJDQL]DWLRQ¶VRZQ
DVVXPSWLRQVLQGHWHUPLQLQJWKHIDLUYDOXHRILQYHVWPHQWV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( )$,59$/8(0($685(0(17
&RQWLQXHG

7KH DVVHW¶V RU OLDELOLW\¶V IDLU YDOXH PHDVXUHPHQW OHYHO ZLWKLQWKH IDLU YDOXH KLHUDUFK\LVEDVHGRQWKHORZHVWOHYHORIDQ\LQSXWWKDWLVVLJQLILFDQWWRWKHIDLUYDOXH PHDVXUHPHQW9DOXDWLRQWHFKQLTXHVXVHGQHHGWRPD[LPL]HWKHXVHRIREVHUYDEOH LQSXWVDQGPLQLPL]HWKHXVHRIXQREVHUYDEOHLQSXWV

7KH2UJDQL]DWLRQ¶VLQYHVWPHQWVFRQVLVWRIHTXLWLHVDQGDUHFDWHJRUL]HGDV/HYHO LQSXWVDFFRUGLQJWRWKHIDLUYDOXHKLHUDUFK\(TXLWLHVDUHYDOXHGDWWKHLUTXRWHG SULFHVLQSULQFLSDODFWLYHPDUNHWV7KHIROORZLQJWDEOHVSUHVHQWWKH2UJDQL]DWLRQ¶V ILQDQFLDODVVHWVWKDWDUHPHDVXUHGDWIDLUYDOXHRQDUHFXUULQJEDVLVDW6HSWHPEHU DQGFRQVLVWHQWZLWKWKHIDLUYDOXHKLHUDUFK\RI)$6%$6&
)DLU9DOXH0HDVXUHUPHQWDW6HSWHPEHU8VLQJ
4XRWHGSULFHV
LQDFWLYH 6LJQLILFDQW
PDUNHWVIRU RWKHU 6LJQLILFDQW

LGHQWLFDO REVHUYDEOH XQREVHUYDEOH

DVVHWV LQSXWV LQSXWV

/HYHO

/HYHO
7RWDO
,QYHVWPHQWV
([FKDQJHWUDGHGIXQGV %RQGIXQGV

(TXLW\IXQGV
)DLU9DOXH0HDVXUHUPHQWDW6HSWHPEHU8VLQJ
4XRWHGSULFHV
LQDFWLYH 6LJQLILFDQW
PDUNHWVIRU RWKHU 6LJQLILFDQW

LGHQWLFDO REVHUYDEOH XQREVHUYDEOH

DVVHWV LQSXWV LQSXWV

/HYHO

/HYHO
7RWDO
,QYHVWPHQWV
([FKDQJHWUDGHGIXQGV %RQGIXQGV (TXLW\IXQGV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( 1(7$66(76:,7+'21255(675,&7,216

1HWDVVHWVZLWKGRQRUUHVWULFWLRQVIRUILVFDO\HDUDUHDVIROORZV

%HJLQQLQJRI
<HDU $GGLWLRQV5HOHDVHG (QGRI<HDU
3XUSRVHUHVWULFWHG

6SHFLDOSURMHFWV

([FHOOHQFHIXQG

'LVWULFW$QQXDO)XQG

6%$JUDQWSURYLVLRQV

7LPHUHVWULFWHG

1HWDVVHWVZLWKGRQRUUHVWULFWLRQVIRUILVFDO\HDUDUHDVIROORZV

%HJLQQLQJRI
<HDU $GGLWLRQV5HOHDVHG (QGRI<HDU
3XUSRVHUHVWULFWHG

6SHFLDOSURMHFWV

'LVWULFW$QQXDO)XQG

6%$JUDQWSURYLVLRQV

7LPHUHVWULFWHG

$OOFKDSWHUIXQGVUDLVHGE\SURJUDPDFWLYLWLHVDUHFRQVLGHUHGGRQRUUHVWULFWHGIRU SXUSRVHLQDFFRUGDQFHZLWKWKH6%$1RWLFHRI$ZDUGDQGDOORWKHUUHYHQXHVKDYH QRUHVWULFWLRQV,QILVFDO\HDUDQGWKHUHOHDVHRIWHPSRUDULO\UHVWULFWHG QHWDVVHWVUHIOHFWVWKLVGHWHUPLQDWLRQ

127( )81&7,21$/(;3(16(6

7KHFRVWVRIWKH2UJDQL]DWLRQKDYHEHHQVXPPDUL]HGRQDQDWXUDOFODVVLILFDWLRQ EDVLV )RU IXQFWLRQDO H[SHQVH SXUSRVHV FRVWV KDYH EHHQ DOORFDWHG DPRQJ WKH SURJUDPDQGVXSSRUWLQJVHUYLFHVDVIROORZVIRUWKH\HDUHQGHG6HSWHPEHU
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( )81&7,21$/(;3(16(6
&RQWLQXHG

(OHPHQWRI&RVW
3URJUDP
6HUYLFHV
0DQDJHPHQW
DQG*HQHUDO )XQGUDLVLQJ 7RWDO
$VVRFLDWLRQ
)LHOGH[SHQVHV

'RQDWHGIDFLOLWLHVJRRGVDQGVHUYLFHV

6DODULHVDQGIULQJHEHQHILWV 7HFKQRORJ\DQGZHEVLWH
&KDSWHUFOHULFDOVXSSRUW 1DWLRQDOOHDGHUFRQIHUHQFH

3URIHVVLRQDOVHUYLFHV

0DUNHWLQJ %RDUGH[SHQVHV 2IILFHVXSSOLHV 6WDIIWUDYHO 2WKHU

9ROXQWHHUVHUYLFHV ,QVXUDQFH 7RWDO
)RXQGDWLRQ
6&25(SURJUDPVXSSRUW

1DWLRQDO/HDGHUVKLS&RQIHUHQFH (GXFDWLRQDO

3URPRWLRQDQGVXSSRUWRI6&25(3URJU 5RXQGWDEOHVDQG3LWFK(YHQWV &KDSWHU:RUNVKRS*UDQWV

2WKHU*HQHUDO5HVHDUFKDQG6XSSRUW 6DODULHVDQGEHQHILWV

3URIHVVLRQDOVHUYLFHV
*RYHUQPHQWUHODWLRQV 6RIWZDUH
7UDYHODQGUHJLVWUDWLRQ ,QVXUDQFH %DGGHEW 2WKHU

7RWDO

&RQVROLGDWLRQHOLPLQDWLRQ

7RWDO

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( )81&7,21$/(;3(16(6
&RQWLQXHG

7KH2UJDQL]DWLRQ¶VFRQVROLGDWHGIXQFWLRQDO H[SHQVHV IRUSXUSRVHVRIUHSRUWLQJ JURVVSURJUDPDQGVXSSRUWLQJVHUYLFHVIRUWKH\HDUHQGHG6HSWHPEHUZHUH DOORFDWHGDVIROORZV

(OHPHQWRI&RVW
3URJUDP
6HUYLFHV
0DQDJHPHQW
DQG*HQHUDO )XQGUDLVLQJ 7RWDO
$VVRFLDWLRQ
)LHOGH[SHQVHV
'RQDWHGIDFLOLWLHVJRRGVDQGVHUYLFHV

6DODULHVDQGIULQJHEHQHILWV

7HFKQRORJ\DQGZHEVLWH &KDSWHUFOHULFDOVXSSRUW 1DWLRQDOOHDGHUFRQIHUHQFH

3URIHVVLRQDOVHUYLFHV

0DUNHWLQJ %RDUGH[SHQVHV

2IILFHVXSSOLHV 6WDIIWUDYHO 2WKHU

9ROXQWHHUVHUYLFHV ,QVXUDQFH $VVRFLDWLRQWRWDO
3URJUDP
0DQDJHPHQW
DQG*HQHUDO )XQGUDLVLQJ 7RWDO
)RXQGDWLRQ
6&25(SURJUDPVXSSRUW

%RDUGIXQFWLRQV

1DWLRQDO/HDGHUVKLS&RQIHUHQFH (GXFDWLRQDO&RQWHQW

&KDSWHU:RUNVKRS*UDQW 5HVHDUFK
2WKHU*HQHUDO5HVHDUFKDQG6XSSRUW

6DODULHVDQGEHQHILWV

3URIHVVLRQDOVHUYLFHV

*RYHUQPHQWUHODWLRQV 6RIWZDUH 7UDYHODQGUHJLVWUDWLRQ ,QVXUDQFH %DGGHEW 2WKHU

)RXQGDWLRQWRWDO

&RQVROLGDWLRQHOLPLQDWLRQ

7RWDO

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127(
'21$7(')$&,/,7,(6*22'6$1'6(59,&(6

6&25( RSHUDWHV RXW RI VSDFH GRQDWHG E\ WKH 6%$ DQG RWKHU RUJDQL]DWLRQV &RQWULEXWLRQVRIJRRGVDQGVHUYLFHVDUHUHFHLYHGWKURXJKRXWWKH\HDU)DLUYDOXHRI LQNLQGFRQWULEXWLRQVUHFRJQL]HGDVXQUHVWULFWHGVXSSRUWDQGDVH[SHQVHVLQWKH VWDWHPHQWVRIDFWLYLWLHVLVDVIROORZV

3URJUDPVHUYLFHV

0DQDJHPHQWDQGJHQHUDO

)XQGUDLVLQJ

127( &21&(175$7,212)5(9(18(

'XULQJILVFDO\HDUDQGDQG
RIWKH2UJDQL]DWLRQ¶VUHYHQXHZDV
GHULYHGIURPDQ6%$JUDQW

127( &217,1*(1&,(6

6&25(UHFHLYHVIHGHUDOIXQGLQJZKLFKLVVXEMHFWWRSHULRGLFDXGLWE\WKH6%$LWV FRJQL]DQW DJHQF\ $V VXFK WKHUHH[LVWV D FRQWLQJHQW OLDELOLW\IRU SRWHQWLDO TXHVWLRQHGFRVWVWKDWPD\UHVXOWIURPVXFKDQDXGLW'XULQJILVFDO WKH6%$
V
2IILFHRI,QVSHFWRU*HQHUDO
6%$2,*
SHUIRUPHGDUHYLHZRIWKH6%$
VRYHUVLJKW
RI6&25(DQGSURYLGHGDUHSRUWZLWKILQGLQJVUHJDUGLQJWKHDGPLQLVWUDWLRQRIWKH JUDQW$VDUHVXOWRIWKH6%$2,*UHSRUW6&25(DJUHHGWRUHIXQGWRWKH6%$IRU WKHTXHVWLRQHGFRVWQRWHGLQWKHUHSRUW$OODVVHUWHGFODLPVIRUTXHVWLRQHGFRVWKDYH EHHQVLJQLILFDQWO\UHSDLGE\6&25($VRI6HSWHPEHUDQGWKH DPRXQWRIDQGUHPDLQHGRXWVWDQGLQJWRWKH6%$ Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( 5(/$7('3$57<75$16$&7,216

6&25(LVDIILOLDWHGZLWKWKH6&25()RXQGDWLRQDQRWIRUSURILWRUJDQL]DWLRQZLWK ZKLFKLWKDVWKUHHFRPPRQPHPEHUVRIWKH%RDUGRI'LUHFWRUV6&25(UHFHLYHV JUDQWV IURP WKH )RXQGDWLRQLQ VXSSRUWRI6&25(DFWLYLWLHV6&25(SURJUDP VXSSRUWLVFRPSULVHGRIH[SHQGLWXUHVE\WKH)RXQGDWLRQLQVXSSRUWRI6&25(JRDOV DQGREMHFWLYHV

%HJLQQLQJLQILVFDO\HDUWKH)RXQGDWLRQFODVVLILHGIXQGVKHOGIRUWKH6&25( ILHOGDVDOLDELOLW\7KHVHIXQGVZHUHUDLVHGE\WKHILHOGOHDGHUVKLSDQGPXVWEHXVHG LQWKHLUDUHD7KHILHOGOHDGHUVKLSZLOOGHWHUPLQHWKHVSHFLILFXVHRIWKHIXQGVZLWKLQ 6&25(DQGWKH)RXQGDWLRQVPLVVLRQ

7KH)RXQGDWLRQVHFXUHVIXQGLQJDQGGHYHORSVVSHFLDOSURMHFWVDQGHGXFDWLRQDO UHVRXUFHVWRPHHWDQQXDOO\LGHQWLILHGVWUDWHJLFREMHFWLYHV7KHVHSURJUDPVDQG UHVRXUFHVSURYLGHSURJUDPVXSSRUWIRU6&25(HGXFDWLRQDOLQLWLDWLYHV'XULQJ ILVFDO\HDUDQG)RXQGDWLRQSURJUDPVXSSRUWZDVIRUWKHIROORZLQJ

LQLWLDWLYHV

1DWLRQDO/HDGHUVKLS&RQIHUHQFH (GXFDWLRQDO&RQWHQW

6PDOO%XVLQHVV5HVLOLHQF\3URJUDP %RDUG)XQFWLRQV
&KDSWHU:RUNVKRS*UDQW

5HVHDUFK

'LYHUVLW\DQG,QFOXVLRQ3URJUDPV 2WKHU*HQHUDO5HVHDUFKDQG6XSSRUW

'XULQJILVFDO\HDUDQGSD\PHQWVUHFHLYHGIURPWKH)RXQGDWLRQWRWDOHG
DQGUHVSHFWLYHO\$W6HSWHPEHUDQGWKHDPRXQW GXHIURPWKH)RXQGDWLRQZDVDQGUHVSHFWLYHO\)RUSXUSRVHV RI WKH FRQVROLGDWHG ILQDQFLDO VWDWHPHQWV WKH HIIHFWV RI WKHVHLQWHUFRPSDQ\ WUDQVDFWLRQVDQGEDODQFHVKDYHEHHQHOLPLQDWHG

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( 5(7,5(0(173/$1

6&25(PDLQWDLQVDWD[GHIHUUHGDQQXLW\SODQ
3ODQ
XQGHU6HFWLRQ
E
RIWKH
,QWHUQDO5HYHQXH&RGH$OOHPSOR\HHVDUHHOLJLEOHWRSDUWLFLSDWHLQWKH3ODQDQGWR FRQWULEXWHDQ\SHUFHQWDJHRIWKHLUDQQXDOFRPSHQVDWLRQWRWKHPD[LPXPSHUPLWWHG E\ODZ6&25(PDWFKHVRIHDFKHPSOR\HH¶VFRQWULEXWLRQXSWRRIWKH HPSOR\HH¶VJURVVVDODU\6&25(DOVRPDNHVDGLVFUHWLRQDU\FRQWULEXWLRQRIRI HDFK HPSOR\HH¶V VDODU\ UHJDUGOHVV RI WKH HPSOR\HH¶V FRQWULEXWLRQ (PSOR\HU FRQWULEXWLRQVYHVWDWSHU\HDURYHUDILYH\HDUSHULRG&RQWULEXWLRQVWRWKH3ODQ IRUDQGZHUH

DQGUHVSHFWLYHO\

7KH )RXQGDWLRQ VSRQVRUV D TXDOLILHG GHILQHG FRQWULEXWLRQ SODQ XQGHU 6HFWLRQ
N
RI WKH ,QWHUQDO 5HYHQXH &RGH WKDW FRYHUV DOO HOLJLEOH HPSOR\HHV 7KH )RXQGDWLRQSURYLGHVDGLVFUHWLRQDU\PDWFKLQJFRQWULEXWLRQHTXDOWRDQHPSOR\HH¶V HOHFWLYHGHIHUUDOXSWRDPD[LPXPGHIHUUDOUDWHRIZLWKDQDGGLWLRQDO TXDOLILHGPDWFKLQJFRQWULEXWLRQ0DWFKLQJFRQWULEXWLRQVYHVWDWWKHUDWHRISHU \HDURYHUDILYH\HDUSHULRG&RQWULEXWLRQVWRWKHSODQZHUHDQG
IRUILVFDO\HDUDQGUHVSHFWLYHO\

127( /($6(6

7KH2UJDQL]DWLRQUHFRJQL]HVULJKWRIXVH
528
DVVHWDQGOHDVHOLDELOLW\LQWKH
DFFRPSDQ\VWDWHPHQWRIILQDQFLDOSRVLWLRQLQDFFRUGDQFHZLWK)$6%$6&7RSLF Leases)RUOHDVHVJUHDWHUWKDQWZHOYH

PRQWKVWKH2UJDQL]DWLRQUHFRUGV
WKHUHODWHGULJKWRIXVHDVVHWDQGOLDELOLW\DWWKHSUHVHQWYDOXHRIWKHOHDVHSD\PHQWV RYHUWKHFRQWUDFWWHUPXVLQJDUDWHLPSOLFLWLQWKHOHDVH7KH528DVVHWLVDPRUWL]HG RYHUWKHLUHVWLPDWHGXVHIXOOLIHDQGWKHLQWHUHVWLVUHFRJQL]HGXVLQJWKHHIIHFWLYH LQWHUHVWPHWKRG

7KHZHLJKWHGDYHUDJHUHPDLQLQJOHDVHWHUPDQGGLVFRXQWUDWHDUHDVIROORZVDVRI 6HSWHPEHUDQG

:HLJKWHGDYHUDJHOHDVHWHUP \HDUV
\HDUV
:HLJKWHGDYHUDJHGLVFRXQWUDWH

/HDVHH[SHQVHVWRWDOHG
DQG

IRUWKH\HDUVHQGHG6HSWHPEHU
DQGUHVSHFWLYHO\

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( /($6(6
&RQWLQXHG

7KHIROORZLQJWDEOHVXPPDUL]HVWKHPDWXULW\RIULJKWRIXVHOHDVHOLDELOLWLHVIRU VXEVHTXHQWILVFDO\HDUVDVRI6HSWHPEHU

5HPDLQLQJ

/HVV
DPRXQWUHSUHVHQWLQJLQWHUHVW

7RWDOOHDVHOLDELOLWLHV

/HVV
FXUUHQWSRUWLRQOHDVHOLDELOLWLHV
/RQJWHUPSRUWLRQOHDVHOLDELOLWLHV

127( /,48,',7<$1'$9$,/$%,/,7<

7KHIROORZLQJUHSUHVHQWV6&25(¶VILQDQFLDODVVHWVDW6HSWHPEHUDQG

$VVHWV

&DVKDQGFDVKHTXLYDOHQWV

$FFRXQWVUHFHLYDEOHQHW

7RWDOILQDQFLDODVVHWV

)LQDQFLDODVVHWVDYDLODEOHWRPHHWJHQHUDO
H[SHQGLWXUHVRYHUWKHQH[WWZHOYHPRQWKV

6&25(¶VJRDOLVJHQHUDOO\WRPDLQWDLQILQDQFLDODVVHWVWRPHHW GD\VRIRSHUDWLQJ
H[SHQVHV
DSSUR[LPDWHO\

6&25( DOVR PDLQWDLQV OLQHV RI FUHGLW
DUUDQJHPHQWV WR PHHW FDVK IORZ QHHGV $W 6HSWHPEHU DQG ZHUHDYDLODEOHRQWKHOLQHVRIFUHGLW
6HH1RWH

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( 127(672),1$1&,$/67$7(0(176
6(37(0%(5$1'

127( /,48,',7<$1'$9$,/$%,/,7<
&RQWLQXHG

7KHIROORZLQJUHIOHFWVWKH)RXQGDWLRQ¶VILQDQFLDODVVHWVDVRI6HSWHPEHU DQGUHGXFHGE\DPRXQWVQRWDYDLODEOHIRUJHQHUDOXVHEHFDXVHRIFRQWUDFWXDO RUGRQRULPSRVHGUHVWULFWLRQVZLWKLQRQH\HDURIWKHEDODQFHVKHHWGDWH

)LQDQFLDODVVHWV

&DVKDQGFDVKHTXLYDOHQWV

,QYHVWPHQWLQHTXLWLHV

$FFRXQWVDQGSOHGJHVUHFHLYDEOHQHW 3UHSDLGH[SHQVHV

7RWDOILQDQFLDODVVHWV
/HVV
DPRXQWVQRWDYDLODEOHWREHXVHGZLWKLQRQH\HDU

1HWDVVHWVZLWKGRQRUUHVWULFWLRQV

)LQDQFLDODVVHWVDYDLODEOHWRPHHWJHQHUDOH[SHQGLWXUHV RYHUWKHQH[WWZHOYHPRQWKV
7KH )RXQGDWLRQ LV VXEVWDQWLDOO\ VXSSRUWHG E\ GRQRUUHVWULFWHG FRQWULEXWLRQV %HFDXVHDGRQRU¶VUHVWULFWLRQUHTXLUHVUHVRXUFHVWREHXVHGLQDSDUWLFXODUPDQQHU RULQDIXWXUHSHULRGWKH)RXQGDWLRQPXVWPDLQWDLQVXIILFLHQWUHVRXUFHVWRPHHW WKRVHUHVSRQVLELOLWLHVWRLWVGRQRUV7KXVILQDQFLDODVVHWVPD\QRWEHDYDLODEOHIRU JHQHUDO H[SHQGLWXUHV ZLWKLQ RQH \HDU $V SDUW RI WKH )RXQGDWLRQ¶V OLTXLGLW\ PDQDJHPHQWLWKDVDSROLF\WRVWUXFWXUHLWVILQDQFLDODVVHWVWREHDYDLODEOHDVLWV JHQHUDOH[SHQGLWXUHVOLDELOLWLHVDQGRWKHUREOLJDWLRQVFRPHGXH,QDGGLWLRQWKH )RXQGDWLRQLQYHVWVFDVKLQH[FHVVRIGDLO\UHTXLUHPHQWVLQVKRUWWHUPLQYHVWPHQWV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6XSSOHPHQWDU\,QIRUPDWLRQ
Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( &2162/,'$7('6&+('8/(2)),1$1&,$/326,7,21
6(37(0%(5

6HHLQGHSHQGHQWDXGLWRUV
UHSRUW

6&25(
6&25(
)RXQGDWLRQ
(OLPLQDWLQJ
$GMXVWPHQWV 7RWDO
$66(76
&XUUHQWDVVHWV

&DVKDQGFDVKHTXLYDOHQWV

,QYHVWPHQWV

*UDQWUHFHLYDEOH

$FFRXQWVUHFHLYDEOH

3URPLVHVWRJLYHQHW

'XHWR6&25()RXQGDWLRQ

3UHSDLGH[SHQVHVDQGGHSRVLWV 7RWDOFXUUHQWDVVHWV

1RQFXUUHQWDVVHWV

3URPLVHVWRJLYHGXHDIWHURQH\HDUQHW

3URSHUW\SODQWDQGHTXLSPHQWQHW

528OHDVHDVVHWQHW

7RWDOQRQFXUUHQWDVVHWV

/,$%,/,7,(6$1'1(7$66(76
&XUUHQWOLDELOLWLHV

$FFRXQWVSD\DEOHDQGDFFUXHGH[SHQVHV
'XHWR6&25($VVRFLDWLRQ

$FFUXHGSD\UROODQGUHODWHGOLDELOLWLHV $FFUXHGYDFDWLRQ 528OHDVHOLDELOLW\FXUUHQWSRUWLRQ 'HIHUUHGUHYHQXH 7RWDOFXUUHQWOLDELOLWLHV

1RQFXUUHQWOLDELOLWLHV

528OHDVHOLDELOLW\ 3OHGJHV3D\DEOH 7RWDOQRQFXUUHQWOLDELOLWLHV 1HWDVVHWV

:LWKRXWGRQRUUHVWULFWLRQV

:LWKGRQRUUHVWULFWLRQV
7RWDOQHWDVVHWV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( &2162/,'$7('6&+('8/(2)),1$1&,$/326,7,21
6(37(0%(5

6HHLQGHSHQGHQWDXGLWRUV
UHSRUW

6&25(
6&25(
)RXQGDWLRQ
(OLPLQDWLQJ
$GMXVWPHQWV 7RWDO
$66(76
&XUUHQWDVVHWV

&DVKDQGFDVKHTXLYDOHQWV

,QYHVWPHQWV

*UDQWUHFHLYDEOH $FFRXQWVUHFHLYDEOH 3URPLVHVWRJLYHQHW

'XHIURP6&25()RXQGDWLRQ

3UHSDLGH[SHQVHVDQGGHSRVLWV

7RWDOFXUUHQWDVVHWV

1RQFXUUHQWDVVHWV

3URPLVHVWRJLYHGXHDIWHURQH\HDUQHW

3URSHUW\SODQWDQGHTXLSPHQW 528OHDVHDVVHWQHW

/,$%,/,7,(6$1'1(7$66(76
&XUUHQWOLDELOLWLHV

$FFRXQWVSD\DEOHDQGDFFUXHGH[SHQVHV

'XHWR6&25($VVRFLDWLRQDQG&KDSWHUV

$FFUXHGSD\UROODQGUHODWHGOLDELOLWLHV $FFUXHGYDFDWLRQ

528OHDVHOLDELOLW\FXUUHQW SRUWLRQ 'HIHUUHGUHYHQXH

7RWDOFXUUHQWOLDELOLWLHV

1RQFXUUHQWOLDELOLWLHV

528OHDVHOLDELOLW\ 1HWDVVHWV

:LWKRXWGRQRUUHVWULFWLRQV :LWKGRQRUUHVWULFWLRQV 7RWDOQHWDVVHWV

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( &2162/,'$7('6&+('8/(2)$&7,9,7,(6
6(37(0%(5

6HHLQGHSHQGHQWDXGLWRUV
UHSRUW

6&25(
6&25(
)RXQGDWLRQ
(OLPLQDWLQJ
$GMXVWPHQWV 7RWDO
5HYHQXHVDQGVXSSRUW

86JRYHUQPHQWJUDQW

&KDSWHUSURJUDPUHYHQXH 'RQDWHGIDFLOLWLHVJRRGVDQGVHUYLFHV *LIWVDQGJUDQWV

(YHQWVDQGVSHFLDOSURMHFWV ,QWHUHVWDQGRWKHU
7RWDOUHYHQXHDQGVXSSRUW

([SHQVHV

)LHOGH[SHQVHV 'RQDWHGIDFLOLWLHVJRRGVDQGVHUYLFHV 6DODULHVDQGIULQJHEHQHILWV
&KDSWHUFOHULFDOVXSSRUW 7HFKQRORJ\DQGZHEVLWH

0DUNHWLQJ 3URIHVVLRQDOVHUYLFHV

%RDUGH[SHQVHV 6WDIIWUDYHO 9ROXQWHHUVHUYLFHVDQGILHOGVWDII *RYHUQPHQWUHODWLRQV 2IILFHVXSSOLHV 1DWLRQDOOHDGHUVKLSFRQIHUHQFH

2WKHU

3ULQWLQJDQGVXSSOLHV

3RVWDJH

%DGGHEWH[SHQVH /LFHQVHVDQGUHJLVWUDWLRQV

6RIWZDUHOLFHQVH %DQNIHHV ,QVXUDQFH

3URVSHFWUHVHDUFK

6&25(SURJUDPVXSSRUW

*UDQWVWR6&25( 7RWDOH[SHQVHV

&KDQJHLQQHWDVVHWV

1HWDVVHWVEHJLQQLQJRI\HDU 1HWDVVHWVHQGRI\HDU

Attachment 4
Council Agenda 8-20-2024 Item 3.A

6(59,&(&25362)5(7,5('(;(&87,9(6$662&,$7,21$1'$)),/,$7( &2162/,'$7('6&+('8/(2)$&7,9,7,(6
6(37(0%(5
6HHLQGHSHQGHQWDXGLWRUV
UHSRUW

6&25(
6&25(
)RXQGDWLRQ
(OLPLQDWLQJ
$GMXVWPHQWV 7RWDO
5HYHQXHVDQGVXSSRUW

86JRYHUQPHQWJUDQW

&KDSWHUSURJUDPUHYHQXH 'RQDWHGIDFLOLWLHVJRRGVDQGVHUYLFHV

*LIWVDQGJUDQWV

(YHQWVDQGVSHFLDOSURMHFWV

,QWHUHVWDQGRWKHU

7RWDOUHYHQXHDQGVXSSRUW

([SHQVHV

)LHOGH[SHQVHV

'RQDWHGIDFLOLWLHVJRRGVDQGVHUYLFHV

6DODULHVDQGIULQJHEHQHILWV

&KDSWHUFOHULFDOVXSSRUW 7HFKQRORJ\DQGZHEVLWH 0DUNHWLQJ
3URIHVVLRQDOVHUYLFHV

%RDUGH[SHQVHV

6WDIIWUDYHO
9ROXQWHHUVHUYLFHVDQGILHOGVWDII *RYHUQPHQWUHODWLRQV
2IILFHVXSSOLHV
1DWLRQDOOHDGHUVKLSFRQIHUHQFH

2WKHU

3ULQWLQJDQGVXSSOLHV
3RVWDJH
%DGGHEWH[SHQVH
/LFHQVHVDQGUHJLVWUDWLRQV

6RIWZDUHOLFHQVH
%DQNIHHV
,QVXUDQFH
3URVSHFWUHVHDUFK
6&25(SURJUDPVXSSRUW
*UDQWVWR6&25(

7RWDOH[SHQVHV

&KDQJHLQQHWDVVHWV

1HWDVVHWVEHJLQQLQJRI\HDU

1HWDVVHWVHQGRI\HDU Attachment 4
Council Agenda 8-20-2024 Item 3.A

Pismo Beach City CouncilAugust 20, 2024

Pismo Beach City Council
August 20, 2024