Agenda packet — Pittsburg City Council, April 21, 2025 (part 1 of 2)

CITY OF PITTSBURG
AGENDA
APRIL 21, 2025

CITY HALL COUNCIL CHAMBER
65 CIVIC AVENUE, PITTSBURG, CA

CLOSED SESSION
5:30 P.M.

REGULAR MEETING
7:00 P.M.

CITY COUNCIL

PITTSBURG ARTS AND COMMUNITY FOUNDATION

PITTSBURG POWER COMPANY

SOUTHWEST PITTSBURG GEOLOGIC HAZARD ABATEMENT DISTRICT II

SUCCESSOR AGENCY

PRESIDING
Jelani Killings, Mayor/Chair
Dionne Adams, Vice-Mayor/Chair
Angelica Lopez, Council Member/Board Member
Juan Antonio Banales, Council Member/Board Member
Arlene Kobata, Council Member/Board Member
FOR HOUSING AUTHORITY:

S.L. Floyd, Housing Authority Member
Annie Hill Herring, Housing Authority Member
-------------------------------------------------------------------------------------------------------------------------- Pittsburg City Council regular meetings are held the first and third Mondays of each month at 7:00 p.m. The Housing Authority meets in conjunction with the City Council on the third Monday of each month. The Pittsburg City Council meets regularly in the Council Chamber at 65 Civic Avenue, unless otherwise noted above. The City Council also sits as the Board of Directors of several other City agencies. The stipends for all agency members conform to state statutes governing compensation amounts.

All other Agencies meet on an as needed basis and will be listed above if applicable. Copies of the open session agenda packets, which are distributed to the City Council, are on file in the office of the City Clerk, 65 Civic Avenue, Pittsburg, California, and are available for public inspection, beginning 72 hours in advance, during normal business hours (8:00 a.m. – 5:00 p.m., Monday through Friday, except from noon to 1:00 p.m. and City holidays). The agenda and reports are also located on the City’s website at www.pittsburgca.gov. Additionally, if any reports or documents, which are public records, are distributed to the City Council less than 72 hours before the meeting, those reports and documents will also be available for public inspection in the City Clerk’s Office and on the day of the meeting in the Council Chamber at the public counter area below the dais. 1 AUDIENCE REMARKS
The Audience Remarks period is for the public to comment on any items scheduled to be heard during the Closed Session portion of the meeting, if applicable.
5:30 PM - CONVENE IN CLOSED SESSION

1. CONFERENCE WITH LABOR NEGOTIATORS Pursuant to Section 54957.6:

City designated representatives: Garrett Evans, Maria Aliotti, Jennifer Brizel, Jordan Davis
Employee organizations: American Federation of State, County, and Municipal Employees Local 512 Management/Professional/Confidential Unit and Miscellaneous A Unit; Pittsburg Police Officers’ Association; Pittsburg Police Managers Group; Teamsters Local 856; and International Brotherhood of Electrical Workers Local 1295
Unrepresented employees: Management Group; Senior Executive Team 7:00 PM - CONVENE IN OPEN SESSION FOR REGULAR MEETING

CALL TO ORDER

ROLL CALL

PLEDGE OF ALLEGIANCE

PROCLAMATIONS
The standing proclamation(s) were published as part of the agenda. The proclamation(s) will be posted on the City’s website and social media accounts as appropriate.

2. Inspire Pittsburg - Nancy Parent

3. Pittsburg Cares - National Mental Health Awareness Month

4. Arbor Day

5. Earth Day and Civic Pride Day

PRESENTATIONS

6. Youth and Government

7. Recreation Events and Activities

8. Contra Costa Water District Update

CITY MANAGER REPORTS/REMARKS
The City Manager may make brief announcements or informal comments at this time and brief the Council on items of interest. (No Action Required)
2 PUBLIC COMMENTS
Members of the audience who wish to address the City Council or Agency Boards on issues that are not scheduled for the agenda and on any items listed as part of the Consent Calendar should complete a Speaker's Card available at the dais. Please read the card carefully in order to fill out the card properly.

Submit the completed card to the City Clerk before the item is called, preferably before the meeting begins. Individuals will be given three minutes to address the Council unless additional time is allowed as provided for spokespersons. Prior to speaking, each member of the public shall state their name and business and City of residence in a clear and audible tone of voice. (No Action Required)

COMMITTEE REPORTS
Council Members may make a report on their committee assignments at this time. (see attached list of adhoc committees and other public agencies in which Council members participate). (No Action Required)

CONSIDERATION

9. Adoption of a City Council Resolution to Accept Highway Safety Improvement Program (HSIP)-Cycle 12 Grant Funds and Allocate Local Matching Funds for Project 2037-Harbor St. Safety Improvements
Project 2037-Harbor St. Safety Improvements (the “Project”) will improve traffic signal hardware, install streetlights, and upgrade pedestrian crossings with enhanced safety features along Harbor Street, between Buchanan Road and East 3rd Street. The City has been awarded the Highway Safety Improvement Program (HSIP) -Cycle 12 Grant (Grant) in the amount of $2,246,922 to finance the Project. If approved, the resolution will accept the grant funds and authorize the allocation of matching funds for a total approved project budget of $2,612,700.

10. Adoption of a City Council Resolution Approving a List of Projects to be Funded by SB 1, the Road Repair and Accountability Act of 2017, for Fiscal Year 2025/26 Each Fiscal Year (FY), the City must adopt by resolution, a list of projects proposed to receive funding from the Road Maintenance and Rehabilitation Account (RMRA), also referred to as “SB 1.” Attached to this report is the proposed list of projects to receive this funding during FY2025/26.

CONFLICT OF INTEREST STATEMENT
City Council/Agency Members may make any conflict of interest declarations pertaining to Consent Calendar items at this time.

COMBINED CITY COUNCIL, PITTSBURG ARTS AND COMMUNITY FOUNDATION,

PITTSBURG POWER COMPANY, SOUTHWEST PITTSBURG GHAD II AND

SUCCESSOR AGENCY CONSENT CALENDAR

11. Minutes of March 3, 2025, March 17, 2025 and April 7, 2025

12. Receive and File the Annual Comprehensive Financial Report (ACFR), the Independent Accountants’ Report on Agreed-Upon Procedures Applied to the Appropriations Limit Schedule (GANN), Memorandum on Internal Control (MOIC) and Required Communications for Fiscal Year Ended June 30, 2024 The Annual Comprehensive Financial Report (ACFR) for the fiscal year ended 3 June 30, 2024, has been completed and complies with the Governmental Accounting Board (GASB) reporting requirements. The City has received an unqualified or “clean opinion” by the City’s auditing firm, Badawi & Associates, Certified Public Accountants.

13. Adoption of City Council Ordinance Amending Section 1.28.015 of the Pittsburg Municipal Code to Replace City Logo
On April 7, 2025, staff introduced and the Council waived the first reading of the Amendment to Section 1.28.015, “City Logo,” at the City Council meeting. The ordinance is now ready for City Council adoption.

COUNCIL REQUEST FOR FUTURE AGENDA ITEMS
Council Members may request items to be considered for future agendas. An item will only be brought forward with a majority vote and will appear on a future agenda with staff recommendations for further Council consideration.

COUNCIL MEMBER REMARKS
Council Members may make brief announcements or informal comments at this time. (No Action Required) ADJOURNMENT TO MAY 5, 2025
4 NOTICE TO PUBLIC

GENERAL INFORMATION
Copies of the open session agenda packets, as distributed to the City Council, are on file in the office of the City Clerk, 65 Civic Avenue, Pittsburg, California, and are available for public inspection, beginning 72 hours in advance, during normal business hours (8:00 a.m. – 5:00 p.m., Monday through Friday, except City holidays). Full agenda packets are also located on the City’s website at www.pittsburgca.gov. If any reports or documents, which are public records, are distributed to the City Council less than 72 hours before the meeting, those reports or documents will be available for public inspection in the City Clerk’s Office and on the day of the meeting in the Council Chamber at the public counter area below the dais.

SPEAKER’S CARD
Members of the audience who wish to address the City Council on issues that are not scheduled for the agenda and on any items listed as part of the agenda should complete a Speaker’s Card available at the dais. Please read the card carefully in order to fill out the card properly. Submit the completed card to the City Clerk before the item is called, preferably before the meeting begins. Individuals will be given up to three minutes to address the Council unless additional time is allowed as provided for spokespersons. Speakers are not permitted to yield their time to another speaker. Prior to speaking, each member of the public shall state their name and business and City of residence in a clear and audible tone of voice. Pursuant to the Brown Act, no action may be taken by the City Council on items not already scheduled on the agenda; however, the City Council may refer your comments/concerns to staff or request that the item be placed on a future agenda.

PUBLIC HEARINGS
Persons who wish to speak on Public Hearings listed on the agenda will be heard when the Public Hearing is opened, except on Public Hearing items previously heard and closed to public comment. After the public has commented, the item is closed to public comment and brought to the Council/Agency level for discussion and action. Further comment from the audience will not be received unless requested by the Council/Agency.

There is a 90-day limit for the filing of a challenge in the Superior Court to certain City administrative decisions and orders which require a hearing by law, the receipt of evidence, and the exercise of discretion. The 90-day limit begins on the date the decision is final (Code of Civil Procedure Section 1094.6). Further, if you challenge an action taken by the City Council in court, you may be limited, by California law, including but not limited to Government Code Section 65009, to raising only those issues you or someone else raised in the public hearing, or in written correspondence delivered to the City Council prior to or at the public hearing. The City Council may be requested to reconsider a decision if the request is made prior to the next City Council meeting, regardless of whether it is a regular or special meeting.

NOTICE TO THE DISABLED AND VISUALLY OR HEARING IMPAIRED In compliance with the Americans with Disabilities Act, the City of Pittsburg will provide special assistance for disabled residents. Upon request, an agenda for any meeting shall be made available in appropriate alternative formats. The Council Chamber is equipped with sound amplifier units for use by the hearing impaired. The units operate in conjunction with the Chamber’s sound system. You may request the sound amplifier from the City Clerk for personal use during Council meetings. If you need special assistance to participate in this meeting, or are requesting a specially formatted agenda, please contact the City Clerk at (925) 252-4850. Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting or provide the requested agenda format. (28 CFR 35.102-35.104 ADA Title II)

DISRUPTIVE CONDUCT
The Council requests that you observe the order and decorum of our Council Chamber by turning off or setting to vibrate all cellular telephones and electronic devices, and that you refrain from making personal, impertinent, or slanderous remarks. Boisterous and disruptive behavior while the Council is in session, and the display of signs in a manner which violates the rights of others or prevents others from watching or fully participating in the Council meeting, is a violation of our Municipal Code and any person who engages in such conduct can be ordered to leave the Council Chamber by the Mayor.

LIVE MEDIA BROADCASTING ADVISEMENT
City Council meetings are webcast live on the City’s website at www.pittsburgca.gov on the Agendas and Live Meetings page. Past meetings and approved minutes are also archived on that webpage. Watch the live meeting via the City’s webcast (www.pittsburgca.gov - Agendas and Live Meetings), on Comcast Channel 24 Delta TV, AT&T U-Verse Channel 99 Delta TV. Contact the City Clerk’s office at (925) 252-4850 for more information 5 OUTSIDE AGENCY BOARDS COUNCIL MEMBER(S) TYPE MEETS TIME STAFF ABAG Dionne Adams / Jelani Killings Alternate Standing Annual G. Evans Delta Diablo* Juan Banales / Jelani Killings Alternate Standing 2nd Wednesday 4:30 PM J. Samuelson East Co. Co. County Habitat Conservancy Angelica Lopez / Juan Banales Alternate Standing 4th Monday
Bi-Monthly 2:00 PM J. Davis
East County Water Management Juan Banales / Jelani Killings Alternate Standing Bi-Annual 1:00 PM J. Samuelson MCE Clean Energy Board Arlene Kobata / Angelica Lopez Alternate Standing 3rd Thursday 6:30 PM D. Buchanan TRANSPLAN / ECCRFFA Juan Banales / Dionne Adams Alternate Standing 2nd Thursday 6:30 PM J. Samuelson Tri-Delta Transit (2 reps)** Angelica Lopez & Dionne Adams / Jelani Killings Alternate Standing 4th Wednesday 4:00 PM J. Samuelson

LIAISON TO COUNCIL MEMBER(S) TYPE MEETS TIME STAFF
East Bay League of California Cities Jelani Killings / Dionne Adams Alternate Standing 3rd Thursday G. Evans Green Empowerment Zone Dionne Adams/ Jelani Killings Alternate Standing 3rd Friday
Bi-monthly 9:30 AM J. Davis
Los Medanos Health Advisory Committee Angelica Lopez & Jelani Killings Ad Hoc As needed M. Aliotti Mayor’s Conference Jelani Killings / Dionne Adams Alternate Standing 1st Thursday 6:30 PM G. Evans Pittsburg Police Activities League (PAL) Arlene Kobata & Angelica Lopez / Dionne Adams Alternate Standing Monthly S. Albanese School Districts Committee (2x2) Jelani Killings & Angelica Lopez / Juan Banales Alternate Standing Quarterly M. Aliotti

SUBCOMMITTEES COUNCIL MEMBER(S) TYPE MEETS TIME STAFF
Budget Sustainability Juan Banales & Jelani Killings Ad Hoc As needed G. Evans Community and Economic Development Jelani Killings & Dionne Adams / Angelica Lopez Alternate Standing 2nd Wednesday 5:30 PM J. Davis Development Agreement Jelani Killings & Dionne Adams Ad Hoc As needed J. Davis Facilities Rental and Usage Jelani Killings & Dionne Adams Ad Hoc As needed G. Evans Finance Management Juan Banales & Jelani Killings / Dionne Adams Alternate Standing 3rd Friday 5:00 PM P. Rodrigues Government Performance Juan Banales & Jelani Killings Ad Hoc 4th Friday 4:00 PM J. Brizel Infrastructure and Transportation Juan Banales & Dionne Adams / Angelica Lopez Alternate Standing 4th Thursday 5:30 PM J. Samuelson Tenant Protections Juan Banales & Angelica Lopez Ad Hoc As needed S. Bellafronte Life Enrichment Dionne Adams & Angelica Lopez / Arlene Kobata Alternate Standing 3rd Wednesday 5:30 PM K. Simonton Pittsburg Arts and Community Foundation Angelica Lopez & Jelani Killings Standing As needed K. Simonton Public Safety Arlene Kobata & Angelica Lopez / Jelani Killings Alternate Standing 1st Wednesday 5:30 PM S. Albanese Tobacco, Cannabis, Alcohol Policy Review Arlene Kobata & Jelani Killings Ad Hoc As needed G. Evans *Stipend of $170 per month
** Stipend of $100 per month
City Council Agency/Liaison/Subcommittee Assignments as of March 18, 2025 6 Proclamation

MAY NAMED AS “PITTSBURG CARES” IN HONOR OF MENTAL

HEALTH AWARENESS MONTH

WHEREAS, mental health is essential to everyone’s overall health and wellbeing, and addressing the mental health needs in the children, youth, adults, seniors, and families of Pittsburg is fundamental to having a healthy community; and

WHEREAS, all people experience times of difficulty and stress in their lives and, with the prevalence of mental health conditions in our nation, it is important for all members of the community to know that specific tools exist which can be used to better handle challenges and protect one’s health and wellbeing; and

WHEREAS, it is appropriate to recognize the importance of improving the mental health of all of our residents, and Pittsburg is committed to raising awareness about mental illness; promoting effective community partnerships and collaborations to serve the mental health needs of our community; and increasing access to culturally and linguistically appropriate mental health services; and

WHEREAS, the City will honor National Mental Health Awareness Month by launching “Pittsburg Cares” a collaboration of efforts between the City, health partners, non- profits, school organizations, and the community to create opportunities that focus on awareness and resources.

NOW, THEREFORE, I, Jelani Killings, Mayor of the City of Pittsburg, do hereby proclaim the month of May as “Pittsburg Cares” Month in honor of Mental Health Awareness Month and encourage all citizens, businesses, organizations, and agencies to work collaboratively to reduce the stigma of mental illness and to increase the mental health of our community.

___________________________
Jelani Killings, Mayor

_________________________
Alice E. Evenson, City Clerk

City of Pittsburg
65 Civic Avenue
Pittsburg, CA 94565-3814

7 Proclamation

ARBOR DAY
APRIL 25, 2025

WHEREAS, Arbor Day was started in April 1872 by J. Sterling Morton. Morton, a pioneer of the Nebraska Territory and a tree enthusiast, praised the benefits of trees and encouraged his fellow pioneers to plant them across the then dusty and treeless Nebraska landscape; and

WHEREAS, Arbor Day, was first observed with the planting of more than a million trees in Nebraska; and

WHEREAS, Arbor Day is now observed throughout the nation and the world; and

WHEREAS, trees can be a solution to combating climate change by reducing the erosion of our precious topsoil by wind and water, cutting heating and cooling costs, moderating temperature, cleaning the air, producing life -giving oxygen, and providing habitat for wildlife; and

WHEREAS, trees are a renewable resource giving us paper, wood for our homes, fuel for our fires, and countless other wood products; and

WHEREAS, trees in our city increase property values, enhance the economic vitality of business areas, and beautify our community; and

WHEREAS, trees, wherever they are planted, are a source of joy and spiritual renewal.

NOW, THEREFORE, I, Jelani Killings, on behalf of the City Council of the City of Pittsburg, do hereby proclaim April 25, 2025 as Arbor Day in the City of Pittsburg and encourage all residents to support efforts to protect our trees and woodlands and to plant trees to gladden the heart and promote the well-being of this and future generations.

___________________________
Jelani Killings, Mayor

_________________________
Alice E. Evenson, City Clerk

City of Pittsburg
65 Civic Avenue
Pittsburg, CA 94565-3814

8 Proclamation

EARTH DAY and CIVIC PRIDE DAY 2025

WHEREAS, the first Earth Day was celebrated on April 22, 1970, with the goal of inspiring environmental awareness and encouraging the conservation, protection, and appreciation of our nation’s natural resources; and

WHEREAS, “Our P ower, Our Plan et” is the theme for the 55 th anniversary of Earth Day; and

WHEREAS, this theme invites everyone around the glo be to unite behind renewable energy, and to triple the global generation of clean electricity by 2030; and

WHEREAS, we advocate for the health of the planet, for our air, oceans, soil, eco- systems, wildlife, and human health; and

WHEREAS, we must harness renewable energy to build a healthy, sustainable, equitable and prosperous future for us all; and

WHEREAS, through the City’s Civic Pride Day, the City and the Pittsburg Unified School District invite residents to take pride in Pittsburg by joining a community litter removal effort on April 19th by cleaning up City Park and Pittsburg High School.

NOW, THEREFORE, I, Jelani Killings, on behalf of the City Council of the City of Pittsburg, do hereby encourage the celebration of Earth Day and Civic Pride Day by getting residents involved in helping clean up our city.

___________________________
Jelani Killings, Mayor

_________________________
Alice E. Evenson, City Clerk

City of Pittsburg
65 Civic Avenue
Pittsburg, CA 94565-3814

9 OFFICE OF THE CITY MANAGER/EXECUTIVE DIRECTOR
65 Civic Avenue
Pittsburg, CA 94565
TO: Mayor and Council Members
FROM: Garrett Evans, City Manager
SUBJECT: Adoption of a City Council Resolution to Accept Highway Safety Improvement Program (HSIP) - Cycle 12 Grant Funds and Allocate Local Matching Funds for Project 2037 - Harbor Street Safety Improvements
MEETING DATE: April 21, 2025

EXECUTIVE SUMMARY
Project 2037 - Harbor Street Safety Improvements (the “Project”) will improve traffic signal hardware, install streetlights, and upgrade pedestrian crossings with enhanced safety features along Harbor Street, between Buchanan Road and East 3rd Street. The City has been awarded the Highway Safety Improvement Program (HSIP) - Cycle 12 Grant (Grant) in the amount of $2,246,922 to finance the Project. If approved, the resolution will accept the grant funds and authorize the allocation of matching funds for a total approved project budget of $2,612,700.

FISCAL IMPACT
Under the Grant guidelines, the City is required to provide fourteen percent of local matching funds in the amount of $365,778. These funds will be allocated from HUTA Gas Tax (Fund 203).

RECOMMENDATION
City Council adopt the attached Resolution to accept the $2,246,922 HSIP - Cycle 12 Grant and allocate $365,778 as local matching funds from Fund 203 to the Project.

BACKGROUND
On May 6, 2024, California Department of Transportation (Caltrans) announced solicitation of applications for the Grant funds to be utilized for safety improvements along roadway segments with high crash rates.
10 On October 21, 2024, the City Council adopted Resolution No. 24-14555, authorizing staff to apply for the Highway Safety Improvement Program (HSIP) - Cycle 12 Grant.

The application requested funding for Project 2037, Harbor Street Safety Improvements to upgrade traffic signal hardware, install streetlights, and improve crosswalks with enhanced safety elements for both pedestrians and cyclists on Harbor Street between Buchanan Road and to East 3rd Street.

On February 28, 2025, Caltrans awarded the City the Grant in the amount of $2,612,700.

SUBCOMMITTEE FINDINGS
This item was not presented to a subcommittee.

STAFF ANALYSIS
Data collected from UC Berkeley’s Transportation Injury Mapping System (TIMS) indicated that there was a total of 981 collisions that occurred within the City from 2019 to 2024.

Detailed analysis of crash history and identification of various high-risk locations were made for all modes of transportation. The statistics indicate a pattern of collisions occurring in low light conditions and frequently at roadway intersections.

Harbor Street was selected as a corridor fitting the criteria needed to apply for the Grant funds. There was a total of 71 collisions that occurred on Harbor Street over the past five years, between 2019 to 2024, with four of those crashes being fatalities. Harbor Street serves as a safe route to schools for our students and disadvantaged community members who attend Highlands Elementary, Hillview Junior Elementary, and Pittsburg High School.

To mitigate existing conditions, improvements to traffic signal intersections, roadway lighting, and crosswalk enhancements were proposed as part of the Grant application.

ATTACHMENTS: Resolution
Harbor St. Safety Improvements CIP Sheet
Report Prepared By: Maria Ruiz Vega, Assistant Engineer 11 BEFORE THE CITY COUNCIL OF THE CITY OF PITTSBURG
In the Matter of:

Accepting Highway Safety Improvement )
Program (HSIP) - Cycle 12 Grant Funds )
And Allocate Matching Funds For Project ) RESOLUTION NO. 25- 2037 - Harbor Street Safety Improvements)
WHEREAS, Project 2037 – Harbor Street Safety Improvements (the “Project”) is for traffic improvements on Harbor Street between Buchanan Road and to East 3rd Street; and WHEREAS, on October 21, 2024, the City Council adopted Resolution No. 24- 14555, authorizing staff to apply for the Highway Safety Improvement Program (HSIP) - Cycle 12 Grant (Grant) to finance the Project; and
WHEREAS, on February 28, 2025, California Department of Transportation (Caltrans) awarded the City the HSIP - Cycle 12 Grant funds in the amount of $2,246,922; and
WHEREAS, as required by the Grant guidelines, the City is required to provide fourteen percent of local matching funds in the amount of $365,778; and NOW, THEREFORE, BE IT RESOLVED that the City Council hereby accepts the HSIP - Cycle 12 Grant in the amount of $2,246,922 and allocates $365,778 as local matching funds from HUTA Gas Tax (Fund 203) to the Project.

PASSED AND ADOPTED by the City Council of the City of Pittsburg at a regular meeting on the 21st day of April 2025, by the following vote:

AYES:

NOES:

ABSTAINED:

ABSENT:
___________________________
Jelani Killings, Mayor
ATTEST:
_______________________________
Alice E. Evenson, City Clerk
12 City of Pittsburg 2024/25 – 2028/29 Capital Improvement Program

Project Title: Project #:

Harbor St. Safety Improvements (HSIP 12) 2037

Description/Justification:

Improve signal hardware (Cabinets, signal heads, backplates, controllers, backup battery systems, and modems) at intersections, lighting roadway segment improvements, and upgrade pedestrian crossings with enhanced safety features.

Supplemental Information:

On February 28, 2025, Caltrans awarded the City an HSIP 12 Cycle Grant in the amount of $2,246,922 .

PROJECT EXPENDITURES Prior 2023/24 2024/25 2025/26 2026/27 2027/28 2028/29 TOTAL 1 1 01 Staff Time 8,000$ 37,000$ 15,000$ 60,000$ 21 22 Design 130,000$ 70,000$ 200,000$
2281 Construction 1,380,000$ 912,700$ 2,292,700$ 2372 Administrative Overhead 8,000$ 37,000$ 15,000$ 60,000$ TOTAL 146,000$ 1,524,000$ 942,700$ 2,612,700$ PROJECT FUNDING Prior 2023/24 2024/25 2025/26 2026/27 2027/28 2028/29 TOTAL Federal/State Funding 2,246,922$ 2,246,922$
HUTA 365,778$ 365,778$
TOTAL 2,246,922$ 2,612,700$

PROJECT FINANCING CURRENT PROPOSED
Project Category: Roadway Infrastructure
Location: Harbor Street from Buchanan Road to
East 3rd Street
Project Manager: M. Mena
Project Priority: 1C – Essential
Project Status: New
Est. Completion Date: 2027/28
13 OFFICE OF THE CITY MANAGER/EXECUTIVE DIRECTOR
65 Civic Avenue
Pittsburg, CA 94565
TO: Mayor and Council Members
FROM: Garrett Evans, City Manager
SUBJECT: Adoption of a City Council Resolution Approving a List of Projects to be Funded by SB 1, the Road Repair and Accountability Act of 2017, for Fiscal Year 2025/26
MEETING DATE: April 21, 2025

EXECUTIVE SUMMARY
Each Fiscal Year (FY), the City must adopt by resolution, a list of projects proposed to receive funding from the Road Maintenance and Rehabilitation Account (RMRA), also referred to as “SB 1”. Attached to this report is the proposed list of projects to receive this funding during FY 2025/26.

FISCAL IMPACT
There is no fiscal impact with this action. The proposed allocation of funds to listed projects will be presented to the City Council for consideration at a future meeting.

RECOMMENDATION
City Council adopt the attached resolution approving the list of FY 2025/26 projects to be funded by the Road Maintenance and Rehabilitation Account (SB 1).

BACKGROUND
In April 2017, California Senate Bill 1 (SB 1), the Road Repair and Accountability Act of 2017, was signed into law to address funding shortfalls for transportation projects across the state.

The funding program includes accountability and transparency provisions to help ensure residents are informed of the projects proposed to receive these funds each fiscal year and what projects have reached completion.

In FY 2025/26 the City will receive an estimated $2,000,450 in SB 1 funding. 14 SUBCOMMITTEE FINDINGS
This item was not presented to a subcommittee.

STAFF ANALYSIS
SB 1 funding assists the City in continuing essential road maintenance and rehabilitation projects, provides for safety improvements, and increases access and mobility that would not have otherwise been possible without this funding source.

This is the ninth year the City has received SB 1 funds for road projects.

For FY 2025/26, projects are prioritized to help maintain a safe and efficient transportation system within the City.

The attached project list identifies one project: Zone 7 Pavement Management – Phase 1, which will rehabilitate various local/residential streets. The list includes a description, location, a proposed schedule for the project’s completion, and the estimated useful life of the improvement.

Approval of the project list funded by SB 1 is not considered a project under the California Environmental Quality Act (CEQA) and is, therefore, not subject to CEQA. Individual SB 1 funded projects would, however, be subject to further CEQA analysis before the City Council authorizes construction for those individual projects.

ATTACHMENTS: Resolution
2025/26 SB 1 Project List
Report Prepared By: Savon Reese, Associate Engineer
15 Resolution No. 25- Page 1 of 2 April 21, 2025

BEFORE THE CITY COUNCIL OF THE CITY OF PITTSBURG
In the Matter of:

Approving a List of Projects to be Funded ) RESOLUTION NO. 25- By SB 1, the Road Repair and Accountability )
Act of 2017, for Fiscal Year 2025/26 )
WHEREAS, Senate Bill 1 (SB 1), the Road Repair and Accountability Act of 2017 (Chapter 5, Statutes of 2017), was passed by the Legislature and signed into law by the Governor in April 2017, to address the significant multi-modal transportation funding shortfalls statewide; and
WHEREAS, SB 1 includes accountability and transparency provisions that will ensure the residents of our City are aware of the projects proposed for funding in our community and which projects have been completed each Fiscal Year (FY); and WHEREAS, the City must adopt by resolution a list of projects proposed to receive funding each FY from the Road Maintenance and Rehabilitation Account (RMRA), created by SB 1, which must include a description and the location of each proposed project, a proposed schedule for the project’s completion, and the estimated useful life of the improvement; and
WHEREAS, the City anticipates receiving an estimated $2,000,450 in RMRA funding in FY 2025/26 from SB 1; and
WHEREAS, this is the ninth year in which the City is receiving SB 1 funding; and WHEREAS, SB 1 funding will enable the City to continue essential road maintenance and rehabilitation projects, safety improvements, and increasing access and mobility options that would not have otherwise been possible without this funding; and WHEREAS, the City has undergone a robust public process to ensure public input into our community’s transportation priorities/the project list; and WHEREAS, the City used a Pavement Management System to help develop the SB 1 project list to ensure revenues are being used on the highest priority and most cost- effective projects that meet the community’s priorities for transportation investment; and WHEREAS, the FY 2025/26 funding from SB 1 will add additional funds for the rehabilitation of the pavement in the City; and
WHEREAS, the 2023 California Statewide Local Streets and Roads Needs Assessment found that the City’s streets and roads are in an “at-risk” condition, and this revenue and future SB 1 funding will help the City increase the overall quality of the road system with the goal of improving the City’s streets and roads to a “good” condition; and WHEREAS, approval of a project list funded by SB 1 is not considered a project 16 Resolution No. 25- Page 2 of 2 April 21, 2025 under the California Environmental Quality Act (CEQA) and is, therefore, not subject to CEQA review. Individual SB 1 funded projects would, however, be subject to further CEQA analysis before the City Council authorizes construction for individual projects; and WHEREAS, the SB 1 project list and overall investment in local streets and roads infrastructure with a focus on basic maintenance and safety, investing in complete streets infrastructure, and using cutting-edge technology, materials, and practices, will have significant positive co-benefits statewide.

NOW, THEREFORE, BE IT RESOLVED that the City Council hereby approves the attached list of SB 1 funded projects for Fiscal Year 2025/26.

PASSED AND ADOPTED by the City Council of the City of Pittsburg at a regular meeting on the 21st day of April 2025, by the following vote:

AYES:

NOES:

ABSTAINED:

ABSENT:
_____________________________
Jelani Killings, Mayor
ATTEST:
_______________________________
Alice E. Evenson, City Clerk
17 Fiscal Year 2025/26 RMRA Project List April 21, 2025 Title Zone 7 Pavement Management (Phase 1) Amount
Description
The City will design the following project that will result in the rehabilitation of multiple local/residential streets in Pittsburg.

During Construction the Project will use various treatments based on the needs of each road. Treatments will include:
crack seal, micro-surfacing, cape seal, three-layer treatment, mill and overlay, and base repair.
$2,000,450
Location
Residential/local streets bounded by West Leland Road,
Buchannan Road, PG&E high-voltage power lines and Harbor Street.

Design Start September 2025
Design Completion March 2026
Construction Start Date May 2026
Construction Completion Date August 2026
Useful Life 10 - 20 Years
18 Combined Agency/City Council Minutes Page 1 of 3 March 03, 2025

CITY OF PITTSBURG

CITY COUNCIL/AGENCY CONCURRENT MEETING MINUTES

DATE: March 03, 2025

LOCATION: Council Chamber, City Hall, 65 Civic Avenue, Pittsburg, CA 94565

CITY COUNCIL/AGENCY MEMBERS
Jelani Killings, Mayor/Chair
Dionne Adams, Vice-Mayor/Chair
Angelica Lopez, Council/Agency Member
Juan Antonio Banales, Council/Agency Member
Arlene Kobata, Council/Agency Member
S.L. Floyd, Agency Member
Annie Hill Herring, Agency Member

APPOINTED OFFICIALS
Garrett Evans, City Manager/Executive Director
Donna Mooney, City Attorney/Legal Counsel
Alice E. Evenson, City Clerk/Agency Secretary (elected) Nancy Parent, City Treasurer (elected)

Mayor Killings called the regular meeting to order at 7:00 P.M. in the Council Chamber at City Hall, 65 Civic Avenue Pittsburg, CA.

ROLL CALL

All members were present.

PLEDGE OF ALLEGIANCE

Mayor Killings led the Pledge of Allegiance.

PROCLAMATIONS

1. Inspire Pittsburg – Rosa Martinez-Ocasio

2. Red Cross Month

CITY MANAGER REPORTS/REMARKS

There were no reports/remarks.

PUBLIC COMMENTS

Lisa Martin thanked the City Council for the Red Cross proclamation.

The following speakers brought up safety concerns at Sienna Court Apartments:

Nicole Arrington
Tana Casimiro
Annie Hill
19 Combined Agency/City Council Minutes Page 2 of 3 March 03, 2025 Sandra Guardado thanked the City Council for presenting Pittsburg Unified School District teacher Rosa Martinez-Ocasio with a proclamation. She recognized and thanked Ms. Martinez- Ocasio for all her hard work.

COMMITTEE REPORTS

Council Member Lopez attended the Life Enrichment subcommittee meeting.

Council Member Banales attended the Finance Management and Transportation and Infrastructure subcommittee meetings.

Mayor Killings attended the Economic Development subcommittee meeting and League of Cal Cities East Bay Division meeting.

CONSIDERATION

3. Adoption of a City Council Minute Order to Appoint a Candidate to the Planning Commission

On motion by Vice Mayor Adams, seconded by Council Member Kobata, to appoint Reilly Kent to the Planning Commission and adopted unanimously

CONFLICT OF INTEREST STATEMENT

There were none.

COMBINED CITY COUNCIL, PITTSBURG ARTS AND COMMUNITY FOUNDATION,

PITTSBURG POWER COMPANY, SOUTHWEST PITTSBURG GHAD II AND SUCCESSOR

AGENCY CONSENT CALENDAR

On Motion by Member Lopez, seconded by Member Banales and adopted unanimously.

4. Minutes of February 3, 2025

5. Adoption of a City Council Resolution Accepting Project 1801-Frontage Road Living Green Trail as Complete and Authorizing the City Engineer to File a Notice of Completion

6. Adoption of a City Council Ordinance Amending the Zoning Map to Establish a Limited Overlay District for Quick Quack Car Wash, APN: 088-151-047, Pittsburg, CA, 94565, AP-24- 0004 (RZ, UP, DR, SR)

COUNCIL REQUEST FOR FUTURE AGENDA ITEMS

There were no requests for Future Agenda Items.

COUNCIL MEMBER REMARKS

Council Member Kobata participated in the Read Across America event at Parkside Elementary School.

Council Member Lopez invited the community to participate in the Fishing with a Cop event scheduled for March 29th at Buchanan Park. She also noted it was officially Women’s History 20 Combined Agency/City Council Minutes Page 3 of 3 March 03, 2025 Month.

Mayor Killings attended two events honoring Black History Month. One event was hosted by Hillview Junior High and the other was hosted by NAACP.

ADJOURNMENT

The meeting adjourned at 7:36 P.M. to March 17, 2025.

Respectfully submitted,

Alice E. Evenson, City Clerk
21 Combined Agency/City Council Minutes Page 1 of 4 March 17, 2025

CITY OF PITTSBURG

CITY COUNCIL/AGENCY CONCURRENT MEETING MINUTES

DATE: March 17, 2025

LOCATION: Council Chamber, City Hall, 65 Civic Avenue, Pittsburg, CA 94565

Mayor Killings called the regular meeting to order at 7:40 P.M. in the Council Chamber at City Hall, 65 Civic Avenue Pittsburg, CA. after having convened in Closed Session at 6:41 P.M. for the following Closed Session:

1. CONFERENCE WITH LABOR NEGOTIATORS Pursuant to Section 54957.6:

City designated representatives: Garrett Evans, Maria Aliotti, Jennifer Brizel, Jordan Davis
Employee organizations: American Federation of State, County, and Municipal Employees Local 512 Management/Professional/Confidential Unit and Miscellaneous A Unit; Pittsburg Police Officers’ Association; Pittsburg Police Managers Group; Teamsters Local 856; and International Brotherhood of Electrical Workers Local 1295 Unrepresented employees: Management Group; Senior Executive Team

City Attorney Mooney stated that the City Council provided direction for staff, and there were no reportable actions taken.

ROLL CALL

All members were present.

PLEDGE OF ALLEGIANCE

Mayor Killings led the Pledge of Allegiance.

PROCLAMATIONS

2. Inspire Pittsburg – Nayelli Roman

3. World Down Syndrome Day
22 Combined Agency/City Council Minutes Page 2 of 4 March 17, 2025

4. Cesar Chavez Day

PRESENTATIONS

5. Fiscal Year 2025-2026 City Council Strategic Plan

CITY MANAGER REPORTS/REMARKS

City Manager Evans noted that two Kayakers set out on an excursion to San Francisco and Suisun Bays from Riverview Park. They are scheduled to conclude their journey back to Riverview Park on Wednesday, March 19th in the afternoon. Community members are invited to join staff to welcome them on their return.

Assistant City Manager Aliotti gave an update on community events.

PUBLIC COMMENTS

Cameryn Mabry introduced herself as the field representative for Assembly Woman Anna Avila Farias for the Pittsburg area. She provided their office phone number (925-521- 1511) and encouraged anyone who needed assistance to call.

Alexander Finn and Gabriel Perez Cano spoke in regard to the Pittsburg Prodigies, a local alumni-founded nonprofit looking for financial support to send eight (8) Pittsburg High School youth and two (2) adult chaperones to Wisconsin for a poetry competition.

Alvin Nelson, Pittsburg spoke in regard to parking concerns at Liberty Court.

Sarah Foster, Pittsburg spoke in regard to AB43 which gives local government more flexibility in setting speed limits. She asked for Council to consider a speed limit reduction on Marina Blvd, in front of the Marina Center.

COMMITTEE REPORTS

Council Member Lopez attended the Public Safety Subcommittee meeting.

Mayor Killings attended the Community and Economic Development Subcommittee meeting

COMBINED CITY COUNCIL, PITTSBURG ARTS AND COMMUNITY FOUNDATION,

PITTSBURG POWER COMPANY, SOUTHWEST PITTSBURG GHAD II AND SUCCESSOR

AGENCY CONSIDERATION

10. Adoption of City Council Resolution Authorizing the Purchase of Security Camera Storage for Project 1801-Frontage Road Living Green Trail

On Motion by Member Lopez, seconded by Member Adams and adopted unanimously.

11. Adoption of City Council, Pittsburg Power Company, Successor Agency for the Redevelopment Agency of the City of Pittsburg, SW Pittsburg Geologic Hazard Abatement District II Resolutions Amending the Fiscal Year 2024 -25 Budget Based on Year End Revenue 23 Combined Agency/City Council Minutes Page 3 of 4 March 17, 2025 and Expenditure Projections

On Motion by Vice Mayor Adams, seconded by Member Banales and adopted unanimously

CONFLICT OF INTEREST STATEMENT

There were none.

COMBINED CITY COUNCIL, PITTSBURG ARTS AND COMMUNITY FOUNDATION,

PITTSBURG POWER COMPANY, SOUTHWEST PITTSBURG GHAD II AND SUCCESSOR

AGENCY CONSENT CALENDAR

On Motion by Member Banales, seconded by Vice Mayor Adams and adopted unanimously.

12. Minutes February 18, 2025

13. Adoption of a City Council Resolution to Authorize an Application for and Accept Grant Funds from the California Department of Water Resources for an Aquatic Adventure Camp

14. Adoption of a City Council Resolution to Accept Grant Funds from Los Medanos Health Advisory Committee for FY 24/25 Senior Programs

15. Adoption of a City Council Resolution to Authorize a Sixth Amendment to the Employment Agreement for the City Manager

16. Adoption of a City Council Resolution to Amend the Master Pay Schedule as Required by California Public Employees’ Retirement System

17. Adoption of a Pittsburg Power Company Resolution Approving the First Amendment to the Operating Agreement with the City of Vallejo to Provide Gas Service to Mare Island and the First Amendment to the Operating Agreement with the City of Vallejo to Provide Electric Service to Mare Island

18. Adoption of a Pittsburg Power Company Resolution Allocating $4 Million of Capital Reserve Balance to the Sports Tourism Project and Adoption of a City Council Resolution Authorizing the City Manager to Expend Funds and Execute Necessary Agreements to Complete Construction of the Dream Courts

COUNCIL REQUEST FOR FUTURE AGENDA ITEMS

There were no requests for Future Agenda Items.

COUNCIL MEMBER REMARKS

Council Member Lopez attended a comedy show hosted at the California Theatre, noting that the show brought people to downtown Pittsburg and brought business to the restaurants in that area. She encouraged the community to come out and enjoy events at the California Theatre.

24 Combined Agency/City Council Minutes Page 4 of 4 March 17, 2025

ADJOURNMENT

The meeting adjourned at 9:08 P.M. to April 7, 2025.

Respectfully submitted,

Alice E. Evenson, City Clerk
25 Combined Agency/City Council Minutes Page 1 of 4 April 7, 2025

CITY OF PITTSBURG

CITY COUNCIL/AGENCY CONCURRENT MEETING MINUTES

DATE: April 7, 2025

LOCATION: Council Chamber, City Hall, 65 Civic Avenue, Pittsburg, CA 94565

Mayor Killings called the regular meeting to order at 7:17 P.M. in the Council Chamber at City Hall, 65 Civic Avenue Pittsburg, CA. after having convened in Closed Session at 5:35 P.M. for the following Closed Session:

1. CONFERENCE WITH LABOR NEGOTIATORS Pursuant to Section 54957.6:

City designated representatives: Garrett Evans, Maria Aliotti, Jennifer Brizel, Jordan Davis
Employee organizations: American Federation of State, County, and Municipal Employees Local 512 Management/Professional/Confidential Unit and Miscellaneous A Unit; Pittsburg Police Officers’ Association; Pittsburg Police Managers Group; Teamsters Local 856; and International Brotherhood of Electrical Workers Local 1295 Unrepresented employees: Management Group; Senior Executive Team

City Attorney Mooney stated that the City Council provided direction to negotiation staff, and there were no reportable actions taken.

ROLL CALL

Council Member Lopez was absent and excused.

PLEDGE OF ALLEGIANCE

Mayor Killings led the Pledge of Allegiance.

PROCLAMATIONS

2. Inspire Pittsburg – Lions Den Boxing Gym

3. National Fair Housing Month
26 Combined Agency/City Council Minutes Page 2 of 4 April 7, 2025

4. National Library Week

5. National Sexual Assault Awareness Month

PRESENTATIONS

6. Contra Costa County Fire Protection District Quarterly Update

7. Fiscal Year 2025-2026 Budget Workshop

CITY MANAGER REPORTS/REMARKS

Assistant City Manager Aliotti gave an update on community events.

PUBLIC COMMENTS

Cameryn Mabry, field representative for Assembly Woman Anna Avila Farias provided information on Assembly Bills currently being looked at by their office.

The following spoke in support of a track and field course in the city potentially around John Henry Johnson Park, stating there is a need as city streets are not safe for the Pittsburg High School’s track team to use.

Kaio Sena
Christopher Day
Thomas Galatas
Emerico Jimenez
Dominic Mathews
Gloria Ochoa

Veronica Maya invited the City Council to attend an opioid awareness community forum on April 16, 2025 from 6 P.M. to 7:30 P.M.

Joanna Hernandez, Pittsburg spoke regarding the need for a safer environment for small business owners. She invited City Council Members to visit small businesses in the Railroad corridor to witness first hand the need for more mental health services and increase in Police officers.

COMMITTEE REPORTS

Vice Mayor Adams attended the Life Enrichment Subcommittee meeting.

Mayor Killings attended the 2x2 City of Pittsburg/Pittsburg Unified School District Subcommittee meeting , as well as the Pittsburg Arts & Community Foundation (PACF) subcommittee meeting.

27 Combined Agency/City Council Minutes Page 3 of 4 April 7, 2025

CONSIDERATION

8. Adoption of a City Council Minute Order to Approve the City Council Strategic Plan for Fiscal Year 2025-2026

On Motion by Member Banales, seconded by Vice Mayor Adams and adopted by following vote:

AYES: Adams, Banales, Kobata, Killings
ABSENT: Lopez

9. Introduction and Waive First Reading of an Ordinance Amending Section 1.28.015 of the Pittsburg Municipal Code and by Minute Order Accepting the Brand Standards

On Motion by Vice Mayor Adams, seconded by Member Banales and adopted by following vote:

AYES: Adams, Banales, Kobata, Killings
ABSENT: Lopez

CONFLICT OF INTEREST STATEMENT

There were none.

COMBINED CITY COUNCIL, PITTSBURG ARTS AND COMMUNITY FOUNDATION,

PITTSBURG POWER COMPANY, SOUTHWEST PITTSBURG GHAD II AND SUCCESSOR

AGENCY CONSENT CALENDAR

On Motion by Member Banales, seconded by Member Kobata and adopted by following vote:

AYES: Adams, Banales, Kobata, Killings
ABSENT: Lopez

10. Adoption of a City Council Resolution Accepting the Plans and Specifications, Allocating CalRecycle Grant Funds, and Awarding Project 2029-Zone 4 Pavement Management

11. Adoption of a City Council Resolution to Accept Grant Funds from the Department of Energy for the Energy Efficiency and Conservation Block Grant Program

COUNCIL REQUEST FOR FUTURE AGENDA ITEMS

There were no requests for Future Agenda Items.

COUNCIL MEMBER REMARKS

There were no Council Member Remarks.

28 Combined Agency/City Council Minutes Page 4 of 4 April 7, 2025

ADJOURNMENT

The meeting adjourned at 9:00 P.M. to April 21, 2025.

Respectfully submitted,

Alice E. Evenson, City Clerk
29 OFFICE OF THE CITY MANAGER/EXECUTIVE DIRECTOR
65 Civic Avenue
Pittsburg, CA 94565
TO: Mayor and Council Members
FROM: Garrett Evans, City Manager
SUBJECT: Receive and File the Annual Comprehensive Financial Report (ACFR), the Independent Accountants’ Report on Agreed-Upon Procedures Applied to the Appropriations Limit Schedule (GANN), Memorandum on Internal Control (MOIC) and Required Communications for Fiscal Year Ended June 30, 2024
MEETING DATE: April 21, 2025

EXECUTIVE SUMMARY
The Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2024, has been completed and complies with the Governmental Accounting Board (GASB) reporting requirements. The City has received an unqualified or “clean opinion” by the City’s auditing firm, Badawi & Associates, Certified Public Accountants.

FISCAL IMPACT
There is no fiscal impact to receive and file the ACFR, GANN, Single Audit Reports and Required Communications audit reports.

RECOMMENDATION
Receive and file the ACFR, GANN, Single Audit Reports and Required Communication Reports for fiscal year ended June 30, 2024.

BACKGROUND
Pursuant to and in compliance with GASB 34, the City is required to receive and file its ACFR at the end of each year. The ACFR is governed by GASB and includes a set of financial statements comprised of financial reports of the City, along with notes, narratives, and other supporting data. The purpose of the ACFR is to be transparent about the use of taxpayer’s money and to provide the public with a detailed accounting of all City financial activities.

The GANN report is required to meet the requirements of Section 1.5 of Article XIIIB of the California Constitution.
30 The City has contracted Badawi & Associates to audit the City’s financial statements for the year ended June 30, 2024, and to provide a report on internal controls over financial reporting and compliance with laws and regulations and other matters.

The Required Communication Report is a professional standards requirement that the auditors, Badawi & Associates provides to the City with information about the responsibilities under generally accepted auditing standards, Government Auditing Standards and the Uniform Guidance, as well as certain information related to the planned scope and timing of City’s audit.

SUBCOMMITTEE FINDINGS
This item was not reviewed by a subcommittee.

STAFF ANALYSIS
Badawi & Associates has completed its review and examination of the City’s financial transactions and statements for the fiscal year end June 30, 2024. Badawi & Associates has expressed an opinion that the City’s financial statements are presented fairly, in all material respects, and in conformity with the accounting principles generally accepted in the United States of America.

The following is a summary of the financial highlights from the Management’s Discussion and Analysis section of the ACFR:

The assets and deferred outflow of resources of the City exceeded its liabilities and deferred inflows of resources at the close of the FY 2023/24 by $444.8 million (M) (net position).

The City’s total net position of $444.8M increased from the prior FY 2022/23 by $1.6M. See below for the breakdown of governmental and business type activities:

As of June 30, 2024, the City’s governmental fund balances saw an increase of $19.8M resulting in a balance of $112.5M compared to the prior fiscal year balance of $92.7M.

Besides the net prior period restatement of $17.8M (see Note 16 – Restatements of FY 23/24 ACFR), the remaining difference is an increase in total revenue of $3.0M offset by $1.0M increase in costs incurred in personnel, capital outlay and operating expenditures.

As of June 30, 2024, the fund balance (total assets and deferred outflows minus total liabilities and deferred inflows) for the General Fund, which includes the Budget Stabilization and Economic Development funds, was $27.9M. The detail of this amount is as follows:
$5.4M was designated as "Nonspendable" for items that are not in a spendable form such as deposits, interfund advances and inventory, $9.8M was designated as "Assigned" for economic development activities and encumbrances intended to be used for specific purposes designated by the City Council and $12.6M as unassigned. The unassigned balance consists of $10.2M in General Fund operating reserve available to cover expenses in the event of an emergency and $2.4M (see Note 1.B in FY 23/24 ACFR) in the Budget Stabilization Fund that can be used to balance future budgets subject to the limits of the Fiscal Sustainability Ordinance.
31 As of June 30, 2024, the City's net position from business type activities (enterprise funds) increased by approximately $7.8M (4.4%) from $175.7M to $183.5M, primarily because of net increase in capital assets, along with a net increase in deferred outflows and offsetting of costs in personnel, operating expenses, and deferred inflows.

In the FY 23/24 Single Audit report, Badawi & Associates identified two significant deficiencies which follows:

1. 2024-001: Restatements of Previously Issued Financial Statements – Significant Deficiency
Condition
During Fiscal Year 2023/24, the City recorded prior period adjustments to (1) correct the accounting for loans receivable, which had previously been offset by a corresponding deferred inflow of resources, instead of reporting it as part of the City’s fund balance, and (2) correct the recognition of ARPA grant revenue, which was recorded as revenue in Fiscal Year 2022/23 without corresponding expenditures.

Recommendation
It is recommended that the City expand its year-end closing to include formalized procedures for identifying, investigating, and correcting errors or misstatements in previously issued financial statements such as review of all accounts in the City's general ledger to ensure that amounts can be supported, are complete and derived by correctly applying accounting standards.

Management Response
The City is implementing GASB 100 (Accounting Changes and Error Corrections) for the first time with the FY 23/24 audit. Before GASB 100, recording deferred inflows of resources to offset the loan receivable principal portion was a common practice by government agencies. The City will change its accounting practice moving forward.

From the City’s perspective, the early guidance on ARPA lacked clarity in recognizing when to record the City’s loss of revenue due to COVID which led to some governmental agencies, that the City consulted with, recording revenue when funds were formally committed rather than expended. The City will change its accounting practice moving forward.

2. 2024-002: Financial Closing and Audit Preparedness– Significant Deficiency Condition
During the performance of the audit, Badawi & Associates noted that the City was not fully prepared for the audit. As a result, numerous journal entries were posted after the trial balance was provided for the audit. Additionally, many of the requested audit documents and schedules were not available within the scheduled fieldwork period.

Recommendation
It is recommended that the City enhance its year-end closing procedures to ensure that its books are as complete and accurate as possible before commencement of the audit 32 Management Response
The City agrees with the findings and is in the process of updating and improving year-end closing.

ATTACHMENTS: Annual Comprehensive Financial Report for the Fiscal Year ended June 30, 2024
Independent Accountants’ Report on Agreed-Upon Procedures Applied to Appropriations Limit Schedule for Fiscal Year Ended June 30, 2024 Single Audit Reports for Fiscal Year Ended June 30, 2024 Required Information for the Fiscal Year ended June 30,2024 Report Prepared By: Paul Rodrigues, Finance Director
33 34
35 City of Pittsburg
California
Annual Comprehensive
Financial Report
Fiscal Year Ended June 30, 2024
Prepared by the Finance Department
Paul Rodrigues, CPA
Finance Director
Laura Mendez, CPA
Division Manager, Financial Reporting
36 CITY OF PITTSBURG
Annual Comprehensive Financial Report
June 30, 2024
37 City of Pittsburg
Annual Comprehensive Financial Report
For the year ended June 30, 2024
Table of Contents
Page

INTRODUCTORY SECTION
Table of Contents ............................................................................................................................................................ i Letter of Transmittal ...................................................................................................................................................... v City of Pittsburg Organizational Chart ................................................................................................................... xiii List of City Officials ................................................................................................................................................... xiv Map of the City ............................................................................................................................................................. xv GFOA Certificate ........................................................................................................................................................ xvi

FINANCIAL SECTION
Independent Auditor's Report ................................................................................................................................... 1 Management’s Discussion and Analysis ................................................................................................................. 5 Basic Financial Statements:

Government-Wide Financial Statements
Statement of Net Position ................................................................................................... .................................. 23 Statement of Activities ..................................................................................................... ..................................... 24 Fund Financial Statements
Governmental Funds:

Balance Sheet ...................................................................................................................................................... 30 Reconciliation of Governmental Funds Balance Sheet
to the Government-wide Statement of Net Position .......................................................................... ........ 32 Statement of Revenues, Expenditures and Changes in Fund Balances ...................................................... 34 Reconciliation of the Government al Funds Statement of Revenues, E x p e n d i t u r e s , a n d C h a n g e s i n F und Balances to the Government-Wide Statement of Activities ................................................................................................... ................................ 36 Proprietary Funds:

Statement of Net Position ................................................................................................. ............................. 38 Statement of Revenues, Expenses, and Changes in Fund Net Position ................................................. 40 Statement of Cash Flows ............................................................................................................................... 42 Fiduciary Funds:

Statement of Fiduciary Net Position ....................................................................................... ..................... 45 Statement of Changes in Fiduciary Net Position....... ................................................................................. 46 Notes to the Basic Financial Statements ................................................................................................................ 49 i
38 City of Pittsburg
Annual Comprehensive Financial Report
For the year ended June 30, 2024
Table of Contents
Page
FINANCIAL SECTION, Continued
Required Supplementary Information
Budgets and Budgetary Accounting ...................................................................................................................... 131 Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Fund .......................................................................................................................................................... 132 Housing Authority (Section 8) - Special Revenue Fund ................................................................................... 133 Successor Agency Housing - Special Revenue Fund ........................................................................................ 134 Miscellaneous Grants - Special Revenue Fund ................................................................................................. 135 Agent-Multiple Employer Pension Plan:

Schedule of Changes in the Net Pension Liability and Related Ratios – Last 10 Years ................................ 136 Schedule of Contributions – Last 10 Years ......................................................................................................... 138 Cost-Sharing Defined Pension Plan:

Schedule of the Proportionate Share of the Net Pension Liability and Related Ratios – Last 10 Years ..... 140 Schedule of Contributions – Last 10 Years ......................................................................................................... 142 Agent-Multiple Employer OPEB Plan:

Schedule of Changes in the Net OPEB Liability and Related Ratios – Last 10 Years ................................... 144 Schedule of OPEB Contributions – Last 10 Years ............................................................................................. 146 Other Supplementary Information
Combining and Individual Fund Financial Statements and Schedules Non-Major Governmental Funds:

Combining Balance Sheet ..................................................................................................... .............................. 156 Combining Statement of Revenues, Expenditures and Changes in Fund Balances .................................. 166 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual ............................................................................................................ ............................... 176 Internal Service Funds:

Combining Statement of Net Position ......................................................................................... ..................... 196 Combining Statement of Revenues, Expenses and Changes in Net Position ............................................. 198 Combining Statement of Cash Flows ............................................................................................................... 200 Custodial Funds:

Combining Statement of Fiduciary Net Position ........................................................................................... 204 Combining Statement of Changes in Fiduciary Net Position ....................................................................... 205 ii
39 City of Pittsburg
Annual Comprehensive Financial Report
For the year ended June 30, 2024
Table of Contents
Page

STATISTICAL SECTION
Net Position by Component – Last Ten Fiscal Years ............................................................................................ 208 Changes in Net Position – Last Ten Fiscal Years ................................................................................................... 209 Fund Balances of Governmental Funds – First Two Fiscal Years ....................................................................... 212 Fund Balances of Governmental Funds – Last Eight Fiscal Years ...................................................................... 213 Changes in Fund Balance of Governmental Funds – Last Ten Fiscal Years ...................................................... 214 Assessed and Estimated Actual Value of Taxable Property – Last Ten Fiscal Years ....................................... 215 Property Tax Rates - All Overlapping Governments – Last Ten Fiscal Years ................................................... 216 Principal Property Taxpayers – Current Year and Nine Years Ago ................................................................... 217 Property Tax Levies and Collections as of June 30 – Last Ten Fiscal Years....................................................... 218 Ratio of Outstanding Debt by Type – Last Ten Fiscal Years ............................................................................... 219 Ratio of General Government Debt Outstanding – Last Ten Fiscal Years ......................................................... 220 Computation of Direct and Overlapping Debt – June 30, 2024 ........................................................................... 221 Computation of Legal Bonded Debt Margin – June 30, 2024 .............................................................................. 222 Revenue Bond Coverage Wastewater Revenue Bonds ........................................................................................ 223 Revenue Bond Coverage Water Revenue Bonds .................................................................................................. 224 Successor Agency Bonded Debt Pledged Revenue Coverage Tax Allocation Bonds – Last Ten Fiscal Years .............................................................................................................................................. 225 Demographic and Economic Statistics – Last Ten Fiscal Years .......................................................................... 226 Principal Employers - Current Year and Nine Years Ago .................................................................................. 227 Actual Full-Time Equivalent City Government Employees by Function – Last Ten Fiscal Years ................ 228 Operating Indicators by Function/Program – Last Ten Fiscal Years ................................................................ 230 Capital Asset Statistics by Function/Program – Last Ten Fiscal Years ............................................................. 232 iii
40 This Page Intentionally Left Blank
iv
41 65 Civic Avenue
Pittsburg, CA 94565
P: (925) 252-6900
www.pittsburgca.gov
March 31, 2025
Honorable Mayor
Members of the City Council
And Residents of Pittsburg
We are pleased to present the City of Pittsburg Annual Comprehensive Financial Report (ACFR) for the year ending June 30, 2024 (FY 2023-24). The information in this ACFR is prepared in accordance with “Generally Ac cepted Accounting Principles” (GAAP) and includes an unmodified opinion on the report by the City’s independent certified public accountants. Although we rely on the standards and experti se of these external authorities, the City is responsible for the accuracy and fairness of this report, inclusive of all disclosures that are necessary to enable the reader to understand the City’s operations.

For those readers interested in a more detailed review of the City’s financial statements, a narrative section call ed Management’s Discussion and Analysis (MDA) has been included as part of the Financial Section. The MDA reports on the financial highlights of the City and provides additional analysis on the variances and trends reported as part of the financial statements. The MDA also discloses significant items affecting the financial condition of the City and is designed to be read in conjunction with this letter of transmittal.

City Profile
The City was incorporated in 1903 and is located along the Sacramento-San Joaquin River Delta, situated on the north side of Mount Diablo. Pittsburg is located in the northeast part of Contra Costa County.

The City is a general law ci ty and operates utilizing the City Council-Manager form of government. The five City Council members are elected at large for staggered four-year terms to govern the City. Also elected to four-year terms are the City Treasurer and City Clerk. The City Council is responsible for es tablishing goals, priorities, and policies; adopting an annual budget; appointing commissions and committees; and hiring the City Manager and City Attorney. Th e City Manager is responsib le for implementing the City Council’s policies, overseeing the day–to-day operations of the City and appointing the directors of the City’s departments.

The City provides a full range of municipal services, including police, water treatment and distribution, sewer collection, streets, cultural and recreational facilities, public works, parks, economic development, planning, zoning, building inspection, code enforcement, housing assistance, marina operations, energy distribution , engineering, and general administration. The Contra Costa County Fire Pr otection District provides fire protection services for the City.

Docusign Envelope ID: 0387B176-2585-4D44-86CE-09F0302D4A39 v
42 65 Civic Avenue
Pittsburg, CA 94565
P: (925) 252-6900
www.pittsburgca.gov
Reporting Entities
The financial statements included in this ACFR present the City (the primary government) with all the City funds, Housing Authority, Successor Agency (SA), Public Infrastructure Financing Authority (PIFA), Pittsburg Power Company (P PC), Southwes t Pittsburg Geologic Hazard Abatement Di strict II (GHAD II) and Pi ttsburg Arts and Community Foundation (PACF) as component units. Thes e six component units are separate legal entities; however, the members of the City Council also serve as members of the Governing Boards of these component units. Th erefore, the financial information for the Housing Authority, SA, PIFA, PPC, GHAD II and PACF are blended with the City’s financial information.

Economic Conditions and Outlook
The City of Pittsburg continue s to make strides in increasi ng efficiency of services, improving infrastructure, and enhancing the overall quality of life for our residents. The City is continuing to grow, with an estima ted population of ov er 76,000, and further commercial, industrial, and residential devel opment in various st ages of the review process. The unemployment rate slightly decreased from 4.3% in FY 22-23 to 4.1% in FY 23-24. During this past year, the City experienced a decrease in sales tax and increases in revenues from property.

The City’s sales tax revenue slightly decreased by 4.0% or $874,344 this in in line with sales tax trends throughout the Bay Area and reflects the loss of several Pittsburg businesses.

The City's Property Assessment Value (AV) slightly increased by 5.8% from the previous year resulting from the cont inuing consumer housing dema nds. This brought additional revenue of $106,767, a 2.0% increase in revenue to the City. The City anticipates property tax revenues to increased modestly in the upcoming fiscal year due to decrease interest rates by the Federal Reserve.

Franchise Fees increased by 4.3% or $259,747 mainly due to the increase of refuse charges for residential, commercial, and industrial users.

Motor Vehicle revenue increased by 6.0% or $397,453 consistent with the City's increase in property assessment values.

Gas Tax (Highway User's Tax) increased by 11.1% or $4 02,380 because of continuing increased gas prices.

Docusign Envelope ID: 0387B176-2585-4D44-86CE-09F0302D4A39 vi
43 65 Civic Avenue
Pittsburg, CA 94565
P: (925) 252-6900
www.pittsburgca.gov
While revenues continue to improve, staff throughout the City have continued to be diligent in maintaining a low level of costs to deliver the core services to both the residents and the business community.

The City’s Economic Development Divisi on continues develop and manage programs designed to assist existing businesses, attract new businesses, and train and enable residents to find employment opportunities. These programs are possible in part due to staff and partnerships with various organizations and entities.

The City partnered with NorCal SBDC to fo rm the Pittsburg EATS! Program. Utilizing ARPA funds, the Pittsburg EATS! Program invited local restaurants and caterers to learn about the restaurant indus try from experts in the restaurant industry. After taking a free 7-week course, twelve restauranteurs and f ood truck operators received grants up to $10,000 to help fund improvements to th eir operations. The City proudly supports workforce development programs such as the Future Build Program which provides training for construction jobs, as we trained Cohorts 24 and 25 this fiscal year. The City also began the process of forming an Enhanced Infrastructure Financing District, which would provide a valuable financing mechanism to help fund infrastructure that boosts the economic vitality of Pittsburg.

New businesses and improvements continue to spring up in the City. Some notables include the addition of The Downtown Café, Rapido Auto Registration, and Doctorbird Market to the Old Town Pittsburg Communit y. Other notable new businesses include Turner’s Outdoorsman and the newly comple ted Law Enforcement Training Center at 4300 Delta Gateway Boulevard. New manufacturer Yatai Fabrications moved into the Contra Costa Industrial Park with a goal to scale up to 100 employees, while Purple Line LLC expanded their operations to the Empire Business Park. Construction also continued on the new 117 room Courtyard by Marriott hot el with a Starbucks drive-thru, the new San Marco Shopping Center anchored by Sprouts, and the Basin 3 Dredge Project along Pittsburg’s waterfront. These type of projec ts and businesses ensure that Pittsburg’s economic activity has seen growth over the past fiscal year.

General Fund Condition and Long-term Plans
The City developed a 20-y ear General Fund Forecast and Balancing Plan (“20-Year Plan”) to assist City management and City Council on the General Fund budget and use of the Budget Stabilization Fund. Periodic ally, the 20-Year Plan is updated based on current revenue and expenditure information.

This plan incorporates anticipated fluctuat ions of revenues and expenditures over a longer term, thus allowing the City to manage its affairs in a prudent fiscal manner, while providing services to residents and businesses necessary for a growing community.

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Fiscal Sustainability Ordinance
In June 2017, the City passed an updated Fisca l Sustainability Ordinance to ensure the City protects its revenue s and to ensure proper fiscal re sponsibility. As part of the Ordinance, reserve levels and funding mechanics were mandated to provide for emergencies and ensure that pr oper fiscal reserve levels were maintained. Within the Ordinance, reserve levels were set at 30% of annual operating expe nses for the City’s General Fund, Internal Service Funds and Enterprise Funds. The reserve level was placed at a percent age of operating expenses rather than a static number to ensure adequate reserve levels are maintained over ti me. The City also established a Budget Stabilization Fund to provide a minimum of $2 million or 5% of the City’s annual General Fund operating expenses. The Budget Stabiliza tion Fund was fully funded in FY 2017-

18. Throughout the year staff presents u pdates to the Finance Subcommittee regarding the reserve levels to ensure the City is in compliance with the Ordinance.

Major Initiatives:

Capital Projects Completed FY 2023-2024:
• Police Department Electric Vehicle Chargers
• Basin 3 Dredge
• East Leland Road Pavement Maintenance
• Residential Channel Dredge
• HDPE Water Main Reducer Emergency Repair
• Loveridge Road Maintenance
• Citywide Traffic Calmin g-Manville Avenue Speed Humps • Safe Routes to School
• 22/23 Traffic Signal Modification
• City Park Tree Safety Maintenance
• Police Department Evidence and Intake Room Improvements • 22/23 ADA Curb Ramp Installation
• 23/24 ADA Curb Ramp Installation
Capital Projects Scheduled for Construction during FY 2024-2025:
• West Leland Street Lighting
• Reviving the Heart of Pittsburg
• Corp Yard Fuel Tank AST
• Willow Pass Storm Drain Permanent Repair
• Water Treatment Plant Reservoir Genius Bar
• Water Treatment Plant Filtration Improvement & Hypochlorite Conversion
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Pittsburg, CA 94565
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• Frontage Road Trail Improvements
• BART Pedestrian and Bike Connectivity Project
• Crestview Drive Pave
ment Improvements
• Citywide Roadway Improvements
• Buchanan Slope Repair
• Annual Citywide Signage and Striping
• 23/24 Pavement Management - Zone 3
• Zone 4 Pavement Management
• 24/25 ADA Curb Ramp Installation
• Annual Citywide Traffic Signal Improvements
• OBAG 2 – Pavement Improvements
• Railroad Avenue Beautification
• Buchanan Pond Loop Replacement
• City Park Restrooms
• California Theatre Marquee Sign & Bathroom
• East 3 rd Street Remediation
• Central Harbor Park/Boat Launch
• Americana Park Bypass Channel
• City Council Chambers Upgrade
• Kirker Road Re habilitation Project
• 60 Civic Building Repair
• Pittsburg Premier Fields
Other Information
The City is responsible for establishing an d maintaining internal control structures designed to ensure that the assets are protected from loss, theft, or misuse and to ensure that adequate accounting data is compiled to allow for the preparation of financial statements in conformity with GAAP. The in ternal control struct ures are designed to provide reasonable, but not ab solute, assurance that thes e objectives are met. The concept of reasonable assurance recognizes th at: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management.

Single Audit and Compliance
As a recipient of federal and state financial assistance, the City is responsible for ensuring that an adequate internal control structure is in place to ensure compliance with applicable laws and regulations related to those programs. This internal control structure is subject to periodic evaluation by management and the Finance staff of the City. In management’s opinion, the City’s internal controls adequately safeguard assets and provide reasonable assurance of the proper recording of financial transactions. In addition, the results of the City's Single Audit for the fi scal year ended June 30, 2023, provided no instances of Docusign Envelope ID: 0387B176-2585-4D44-86CE-09F0302D4A39 ix
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material weaknesses in the internal control structure or significant violations of applicable laws and regulations.

Budgetary Controls
The City maintains budgetary controls to safeguard City assets and ensures compliance with legal provisions embodied in the annual appropriated budget as approved by the City Council. Activities of the General Fund, Special Revenue funds and Capital Projects funds are included in the annual appropriated budget. The level of budgetary control (the level at which expenditures cannot legally exceed the appropri ated amount) is established at the fund level. The City also applies and maintains an encumbrance accounting system as a technique to accomplishing budgetary control. As de monstrated by the statements and schedules included in the fi nancial section of this report, the City continues to meet its responsibility for sound financial management. The City has received the “Government Finance Officers Association’s Distinguished Budget Presenta tion” award for its budget document.

Appropriations Limit
Proposition 4, the “Gann” in itiative, was passed by Califo rnia voters in 1978 and is intended to limit governmental General Fund appr opriations. The appr opriation limit is calculated each year based upon FY 1978-79 appropriations, modified by the composite consumer price index, and population changes that have occurred in subsequent years.

The City’s General Fund appropriation limit for FY 2023-24 amounted to $210.1 million.

The City’s FY 2023-24 G eneral Fund budget wa s $60.9 million, which is below the appropriation limit.

Cash Management
The City temporarily holds idle cash in t he Local Agency Investment Fund (LAIF) as administered by the Treasurer of the State of California. LAIF invests in obligations of the United States Treasury, Federal Agency C oupons and Discount No tes, Medium Term Notes, and Certificates of Deposit. These investments are permitted under an investment policy adopted by the City Council which defi nes eligible investments and maturities of the City’s investment portfolio and requires se curities to be held by the City or by a qualified custodial institution and registered in the name of the City. The quarterly return on LAIF pooled investments on June 30, 20 24, was 4.5%, an increase when compared to the prior fiscal year of 3.15%. Total LA IF interest earnings were $1,768,055 for FY 2023-24 an increase of $246,829 compared to the prior fiscal year amount of $1,521,226.

Risk Management
The City is self-insured for th e first $25,000 of each loss a nd maintains excess liability insurance through the Municipa l Pooling Authority (MPA). The City is self-insured for liability occurrences over $29 million per occurrence. The City also maintains statutory excess workers’ compensation insurance through the MPA.

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Pittsburg, CA 94565
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www.pittsburgca.gov
Independent Audit
Independent public accounting fi rm, Badawi & Associates, Ce rtified Public Accountants has examined the financial statements of the City and its affiliated agencies. Their opinion on the City’s financial statements and supplemen tal information is in cluded within this report.

Certificate of Achievement
The Government Finance Officers Association of the United States and Canada awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Pittsburg for its Annual Comprehensive Financial Report for the fiscal year ended June 30, 2023.

In order to receive the “Certificate of Ac hievement” award, a government agency must publish an easily readable and efficiently or ganized Annual Comprehensive Financial Report. This report must satisfy both the GAAP and applicable legal requirements.

Acknowledgements
The preparation of this report is the result of the concerted effort and dedication of all employees of the City of Pittsburg Financ e Department. However, we would like to acknowledge Laura Mendez and th e extra effort she invested in completing this year’s Audited Financial Statements.

Finally, we would like to thank the Mayor, Members of the City Council, and City Treasurer for their support in planning and conducting the financial operations of the City in a responsible and transparent manner.

Respectfully submitted,
Garrett Evans Paul Rodrigues
City Manager Finance Director
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49 ➢ CITY GOVERNMENT ORGANIZATION
Residents of Pittsburg
City Council
Environmental
Affairs
Pittsburg
Power / Island
Energy
Waterfront
Operations
Community
and Economic
Development
Economic
Development Planning Building Code
Enforcement
Business
License
Community
Services
Housing
Authority CDBG
Successor
Agency to
RDA
Finance Information
Technology
Risk
Management
Water
Administration
Human
Resources
Police
Department
Public Works Engineering Operations &
Maintenance
Environmental
Services Water Utilities
Recreation Youth & Teen
Services
Senior
Services Sports Community
Outreach Aquatics Small World
Park
California
Theater
Records and
Council
Services
City Treasurer City Clerk
City Manager City Attorney
Assistant City Manager
xiii
50 City of Pittsburg
Annual Comprehensive Financial
Report Fiscal Year Ended June 30, 2024
City Council
Shanelle Scales-Preston, Mayor
Juan Antonio Banales, Vice Mayor
Jelani Killings, Council Member
Dionne Adams, Council Member
Angelica Lopez, Council Member
Other Elected Officials
Alice E. Evenson, City Clerk
Nancy L. Parent, City Treasurer
City Manager
Garrett Evans, City Manager
City Attorney
Donna Mooney, Esquire, City Attorney
Management Staff
Maria Aliotti, Assistant City Manager
Steve Albanese, Chief of Police
Melaine Venenciano, Director of Records/Council Services John Samuelson, Director of Public Works/City Engineer
Paul Rodrigues, Finance Director
Jennifer Brizel, Director of Human Resources
Jordan Davis, Director of Community and Economic Development Kolette Simonton, Director of Recreation
xiv
51 Pittsburg
xv
52 Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Pittsburg
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2023
Executive Director/CEO
xvi
53 INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of the City Council
of the City of Pittsburg
Pittsburg, California
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the govern mental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Pittsburg (City), California, as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise City’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements pr esent fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2024, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

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

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

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financ ial statement date, including any currently known information that may raise substantial doubt shortly thereafter. 54 To the Honorable Mayor and Members
of the City Council of the City of Pittsburg
Pittsburg, California

Page 2 ends

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may in volve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggr egate, they would influence the judgment made by a reasonable user based on the financial statements.

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

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.
2 55
To the Honorable Mayor and Members
of the City Council of the City of Pittsburg
Pittsburg, California

Page 3 ends

Required Supplementary Information
Accounting principles generally accepted in the Unit ed States of America require that the management’s discussion and analysis, budgetary comparison schedules for the General Fund and major special revenue funds, and the required pension and OPEB schedules on pages 5–17 and 132-147 be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statemen ts, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary informatio n in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Supplementary Information
Our audit was conducted for the purpose of forming opin ions on the financial statements that collectively comprise the City’s basic financial statements. The combining and individual nonmajor fund financial statements and the combining budgetary comparison schedules, the combining financial statements of internal service funds and the custodial funds are presen ted for purposes of additional analysis and are not a required part of the basic financial statements.

The combining and individual nonmajor fund fina ncial statements and the budgetary comparison schedules, the combining financial statements of in ternal service funds and the custodial funds are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such in formation directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accord ance with auditing standards generally accepted in the United States of America. In our opinion, th e combining and individual nonmajor fund financial statements and the combining budgetary comparison schedules, the combining financial statements of internal service funds and the custodial funds are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
3 56
To the Honorable Mayor and Members
of the City Council of the City of Pittsburg
Pittsburg, California

Page 4 ends

Other Information
Management is responsible for the other information included in the annual report. The other information comprises the introductory section and the statistical section but does not include the financial statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other info rmation and the financial statements, or the other information otherwise appears to be materially missta ted. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated March 31, 2025 on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, cont racts, and grant agreements and other matters. The p u r p o s e o f t h a t r e p o r t i s s o l e l y t o d e s c r i b e t h e s cope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness o f i n t e r n a l c o n t r o l o v e r f i n a n c i a l r e p o r t i n g o r o n c o m p l i a n c e . T h a t r e p o r t i s a n i n t e g r a l p a r t o f a n a u d i t performed in accordance with Govern ment Auditing Standards in considering the City’s internal control over financial reporting and compliance.

Badawi & Associates, CPAs
Berkeley, California
March 31, 2025
4 57
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024

MANAGEMENT'S DISCUSSION AND ANALYSIS
As management of the City of Pittsburg, we offer readers this discussion and analysis of the City’s financial performance for the year ending June 30, 2024 (FY 2023-24). The accuracy of the data presented and the completeness and fairness of the presentation, including all disclosures in this report, are the responsibility of the City. The report has been prepared in accordance with Generally Accepted Accounting Principles (GAAP) as promulgated by the Governmental Accounting Standard Board (GASB). We encourage readers to consider the information presented here in conjunction with additional information which can be found in the introductory section of this report and within the City’s financial statements, which follow this discussion.

FINANCIAL HIGHLIGHTS
x The assets and deferred outflow of resources of the City exceeded its liabilities and deferred inflows of resources at the close of the FY 2023-24 by $444.8 million (M) (net position).

The City’s total net position of $444.8M increased from the prior FY 2023-24 by $1.6M. See below for breakdown of governmental and business type activities:

As of June 30, 2024, the City’s governmental fund balances saw an increase of $19.8M as the fund balance was $112.5M compared to the prior fiscal year balance of $92.7M. Besides the net prior period restatement of $17.8M (see Note 16 – Restatements), the remaining difference is an increase in total revenue of $3.0M offset by $1.0M increase in costs incurred in personnel, capital outlay and operating expenditures.
x As of June 30, 2024, the fund balance (total assets and deferred outflows minus total liabilities and deferred inflows) for the General Fund, which includes the Budget Stabilization and Economic Development funds, was $27.9M. The detail of this amount is as follows: $5.4M was designated as "Nonspendable" for items that are not in a spendable form such as deposits, interfund advances and inventory, $9.8M was designated as "Assigned" for economic development activities and encumbrances intended to be used for specific purposes designated by the City Council and $12.6M as unassigned. The unassigned balance consists of $10.2M in General Fund operating reserve available to cover expenses in the event of an emergency and $2.4M (see Note 1.B) in the Budget Stabilization Fund that can be used to balance future budgets subject to the limits of the Fiscal Sustainability Ordinance.
x There are four major funds in the Governmental Funds section of the Annual Comprehensive Financial Report: 1) the General Fund, 2) Housing Authority (Section 8), 3) Successor Agency Housing and 4) Miscellaneous Grants.

As of June 30, 2024, the City's net position from business type activities (enterprise funds) increased by approximately $7.8M (4.4%) from $175.7M to $183.5M, primarily because of net increase in capital assets, along with a net increase in deferred outflows and offsetting of costs in personnel, operating expenses and deferred inflows.
x There are five major enterprise funds in the Proprietary Funds section of the Annual Comprehensive Financial Report: (1) Water Utility, (2) Sewer Utility, (3) Marina, (4) Pittsburg Power Company (including Island Energy) and (5) Waterfront Operations. 5 58
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024

OVERVIEW OF THE FINANCIAL STATEMENTS
The Management’s Discussion and Analysis is intended to serve as an introduction to the City’s basic financial statements, which are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report contains other supplementary information in addition to the basic financial statements.

Government-Wide Financial Statements - The Government-Wide Financial Statements are designed to provide readers with a broad overview of the City’s finances, in a manner similar to a private-sector business. These statements consist of:
x The Statement of Net Position presents information on all the City’s assets and deferred outflow of resources and liabilities, with the difference between the two reported as “net position”. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating.
x The Statement of Activities presents information reflecting any change in the government's net position during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs (regardless of the timing of related cash flows).

Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., earned but unused vacation and compensated leave of absence).

Both of the Government-Wide Financial Statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the City include legislative and legal, general government, public safety, public works, community development and recreation. The business-type activities of the City include Water, Sewer, Marina, Pittsburg Power Company (includes Island Energy operation), and Waterfront Operations.

The Government-Wide Financial Statements include not only the City but the Housing Authority and Housing Successor Agency. Financial information for these component units are blended with the financial statements of the primary government itself.

Fund Financial Statements – A “fund” is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds can be divided into three categories: governmental funds, proprietary funds, and City's fiduciary funds.
x Governmental Funds : These funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. Unlike the Government-Wide Financial Statements, governmental fund financial statements focus on near- term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near-term financing requirements. However, this information does not encompass the additional long-term focus of the government-wide statements. Reconciliations that explain the relationship (or 6 59
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024
differences) between governmental funds and governmental activities follow each of the governmental funds statements.

The City maintains 49 individual governmental funds. Information is presented separately in the governmental funds balance sheet and in the governmental funds statement of revenues, expenditures, and changes in fund balances for four funds that are considered to be major funds. These funds consist of the General Fund, Housing Authority (Section 8), the Successor Agency Housing Fund and Miscellaneous Grant Fund. Data from the other 45 governmental funds, which are combined into a single, aggregated presentation under Other Governmental Funds, are considered as non-major funds.

A budgetary comparison statement has been provided for the funds that have an adopted budget to demonstrate compliance with this budget.

Proprietary Funds: The City maintains two different types of proprietary funds; Enterprise Funds and Internal Service Funds. Enterprise Funds are used to report the same functions presented as “business-type activities” in the Government-Wide Financial Statements. The Enterprise Funds are used to account for Water, Sewer, Marina, Pittsburg Power Company (including Island Energy), and Waterfront Operations.
x Enterprise Funds provide the same type of information as the Government-Wide Financial Statements, only in more detail. The Proprietary Fund Financial Statements provide separate information for the Water Fund, the Sewer Fund, the Marina Fund, Pittsburg Power Company (including Island Energy), and Waterfront Operations, all of which are considered to be major funds. Conversely, Internal Service Funds are combined into a single, aggregated presentation in the Proprietary Fund Financial Statements.
x Internal Service funds are an accounting device used to accumulate and allocate costs internally among the City's various functions. Th e City uses Internal Service Funds to account for maintaining its fleet of vehicles, building maintenance, information and communication systems, risk management/insurance, and employee fringe benefits activities. Because these services predominantly benefit governmental rather than business-type functions, they have been included within “governmental activities” in the government-wide financial statements.

Fiduciary Funds : Fiduciary Funds are used to account for resources held for the benefit of parties outside the government. Fiduciary Funds are not reflected in the Government-Wide Financial Statement because the resources of those funds are not available to support the City’s own programs.

The accounting used for Fiduciary Funds is much like that which is used for Proprietary Funds. The Assessment District Bonds Fund, the Environmental Impact Fee Fund and the Other Impact Fees Fund are held as Fiduciary Funds by the City. With the dissolution of Redevelopment Agency per AB 26, as amended by AB 1484, the activities of the Successor Agency of the Former Redevelopment Agency are reported as Private Purpose Trust Fund in the Fiduciary Fund section. Also, included in the Fiduciary Funds is the Miscellaneous Employee Retirement System.

Notes To The Financial Statements – The notes provide additional information that is essential to a full understanding of the data provided in the Government-Wide and Fund Financial Statements. The following GASB pronouncements were effective in fiscal year 2023-2024.

For a detailed description of the all the pronouncements that apply to the City, see Note 1S – Summary of Significant Accounting Policies.
7 60
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024
Other Information – In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the City’s progress in funding its obligation to provide pension benefits to its employees.

GOVERNMENT-WIDE FINANCIAL ANALYSIS
Net Position – As noted earlier, net position may serve over time as a useful indicator of a government's financial position. In the case of the City, combined net position (government and business-type activities) totaled $444.8M at the close of the Fiscal Year ending June 30, 2024, which is $1.6M more than the Fiscal Year ending June 30, 2023 of $443.2M.

The Government-Wide Financial Statements provide long-term and short-term information about the City’s overall financial condition. This analysis addr esses the financial statements of the City as a whole. The following table reflects the Summary of Net Position for the Fiscal Year ended June 30, 2024 with the comparative data for the Fiscal Year ended June 30, 2023.

City of Pittsburg
Summary of Net Position
As of June 30, 2024
8 61
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024
Current assets are assets that are liquid in nature or can be converted into cash quickly. Current liabilities are outstanding liabilities that are due within one year.

The Statement of Net Position contains more detailed information on current assets, capital assets, deferred outflows of resources, current liabilities, non-current liabilities and deferred inflows of resources.

At the end of the FY 2023-24 the total assets and deferred outflows of resources exceeded total liabilities and deferred inflows of resources by $444.8M.

Statement of Activities – In FY 2023-24 the City’s total Governmental expenditures of $123.3M were less than the revenues of $120.2M by $3.1M. The City’s expenses cover a range of services for the Governmental Activities: the largest expenses were in Community Development and Services $42.6M, Public Safety $34.6M and Public Works $18.4M, respectively. These expenses include capital outlays, which are now reflected in the City’s capital assets. Further analysis is provided within the governmental and business-type sections on the following pages. For additional information on the Capital Assets, please refer to Note 7 – Capital Assets disclosure.

Governmental and Business Activities – Governmental Activities reflect an increase of $19.8M in net position, and Business Activities reflect an increase of $7.8M in net position for the FY 2023-24. A comparison of the cost of services by function for the City’s Governmental Activities is shown below, along with the revenues used to cover the net expenses of the Governmental Activities, as well as comparative data from the FY 2022-23.
9 62
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024
Statement of Activities
Fiscal Year Ended June 30, 2024
With comparative data for fiscal year ended June 30, 2023 10 63
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024
Total Program Revenues from Governmental Activities were $70.0M in FY 2023-24. Per GASB 34, program revenues are derived directly from the program or from parties outside the reporting government’s taxpayers or citizenry. Program Revenues reduce the net cost of the program to be financed from the government’s general revenues. As reflected in the pie chart below, 50.1% of the Governmental Program Revenues came from Charges for Services (which includes licenses and permits, plan checking fees, developer fees, special assessments and several other revenues), 45.1% from the Operating Grants and Contributions category (including restricted revenues such as Gas Tax, Measure J Tax, Asset Seizure fund and Federal/State Grants), and 4.8% from Capital Grants and Contributions.

The Charges for Services increased by $1.2M. The difference is a combination of an overall increase of $.8M Community Development including $1.2M from Measure J Tax (Other Non-Property Taxes), $.4M in General Government and $.2M from Public Works offset by a decrease in Public Safety of $.2M.

The Operating Grants and Contributions decreased by $2.9M. The decrease is from less ARPA support of $9.3M offset by increases in Public Works of $4.7M, Community Development of $1.7M and Public Safety of $.1M.

Capital Grants and Contributions increased by $1.6M. The increase in support came from capital projects totaling $.9M, Gas Tax (RMRA) of $.4M and US EPA Grants of $.3M.

Government Revenues by Program Type
11 64
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024
About 42.2% of General Government services in FY 2023-24 were funded by General Revenues.

General Revenues are all other revenues not categorized as program revenues such as property taxes, sales taxes, intergovernmental and investment earnings. Interest on long-term debt is paid through general revenues.

General revenues from Governmental Activities represented $51.1M or 42.2% of total City revenues, and Program revenues reflected $70.0M or 57.8% of total Governmental Activities revenues. Sales Taxes comprised the largest percentage of General Revenues, $21.3M or 41.8%, received during the fiscal year.
12 65
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024
Business-Type Activities – Net position for Business-Type Activities was $183.5M, a net increase of $7.8M over the prior fiscal year. Total program revenues for Business-Type Activities were $48.6M.

Total expenses for Business-Type Activities were $45.3M for the FY 2023-24.

FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance- related legal requirements.

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

The Housing Authority Housing Choice Voucher (HCV) Program, which is reported as a Special Revenue Fund, saw an increase in fund balance of $0.52M. This is due to extra Housing Assistance payment.

General Fund Budgetary Highlights – The final amended budget totaled $60.9M, including $13.6M for prior fiscal year budget carry forward totals and new appropriation amendments to the originally adopted budget. These amendments are briefly summarized below. 13 66
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024
The City Council approved the following budget carry-forwards and amendments during the current fiscal year:

Budget Carry Forwards: Prior Year FY 22-23 Amount Approved Amendments: Increase (Decreas e)
Outside Counsel Human Resources 452,982$ City Manager/City Clerk/Treasurer (22,168)$ Contractual & Professional Services Planning 377,043 City Attorney (44,564) Developer Deposit Contractual Services Planning 348,010 City Clerk (66,374) Vehicle and Vehicle Equipments Police - Admin 292,400 Finance (156,000) Contractual & Professional Services Police - Admin 81,630 Human Resource (195,800) Capital Equip & Furniture (non-Vehicles) Police - Admin 41,000 Permit Center 73,700 Contractual & Professional Services Human Resources 40,838 Graffitti Remov al (27,000) Contractual & Professional Services Recreation 38,637 Planning (123,900) Auditing Expense Non-Departmental 27,929 Building Litigation City Attorney 14,775 Engineering (371,750) Contractual & Professional Services Recreation 11,520 Recreation (137,306) Contractual & Professional Services Finance 8,280 Code Enforcement 39,500 Contractual & Professional Services Engineering 5,190 Police - Admin 346,049 Departmental Supplies Public Works 4,096 Police - Operations Bureau (1,748,000) Contingency Non-Departmental 3,887 Police - Inv estigation (425,000) Contractual & Professional Services Recreation 257 Police - Support Sv cs. (356,000) Police - Family Justice Center (6,000)
Police - Training Center 118,000
PIFA 1998 A.D. 3,728
Marina Walk A.D. #98-01 (308,000)
Public Works - Swim Center Maint.

Non-Departmental 3,477,816
Human Resources
Transfer In/Out 8,026,783
Capital Improvement Projects (7,287,103)
Total Budget Carryovers 1,748,474$ Total Amendments 810,611$ Grand Total 2,559,085$
14 67
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024
At the close of the FY 2023-24, General Fund revenues exceeded the revised budget by $4.2M. This increase is primarily attributable to the use of money and property actual revenue of $3.3M being $2.5M higher than the final budgeted amount of $.8M and moderate surplus in taxes and fees.

General Fund Expenditures were $6.2.M lower than the original budget and $.9M higher than the final budget. This is the result of most of the General Fund operating departments and projects, prudently operating under budget. Staff has taken great care over the past several years to reduce or delay spending on non-critical items during the current fiscal year in an effort to meet the requirements of the City's Budget Stabilization Ordinance. As a result of delayed spending, the City has $1.2M in budgetary carry forwards to FY 2022-23. These carryovers reflect the City's continued commitment to reinvest in the areas of greatest need while exercising care in the manner in which it spends available resources.

Unearned revenue in the General Fund is $0.4M. The balance is for various projects within the City.

Please see Note 5B for further explanation.

The City’s Proprietary Funds provide the same type of information found in the Government-Wide Financial Statements, but with more detail. According to standardized Governmental reporting, the Water Fund, Sewer Fund, and Pittsburg Power Company are major funds. The Marina and Waterfront Operation Funds are not considered to be major funds; however, the City has elected to continue to report the Marina and Waterfront Operation Funds as major funds.

Total net position of the Business-Type Activities was $183.5M at the end of the year, an increase of $7.8M from the prior fiscal year.

Capital Asset and Debt Administration – The City’s investment in capital assets for its Governmental and Business Type activities as of June 30, 2024, was $400.1M (net of accumulated depreciation). This investment in capital assets includes land, buildings, improvements, machinery and equipment, vehicles, park facilities, roads, highways, bridges, water lines, and sewer and storm systems. The total increase in the City’s investment in capital assets net of depreciation was $8.3M as compared to prior year.
15 68
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024
City of Pittsburg
Capital Assets
(Net of Depreciation)
June 30, 2024
2023 2024 2023 2024 2023 2024
Non-depreciable assets:

Land 35,754,568$ 36,385,225$ $ 2,721,245 $ 2,721,245 $ 38,475,813 $ 39,106,470 Contruction in Progess 17,450,369 28,030,236 19,652,827 24,381,527 37,103,196 52,411,763 Tota l 53,204,937 64,415,461 22,374,072 27,102,772 75,579,009 91,518,233 Depreciable assets (net o f
depreciat ion):

Buildings and improvements 61,964,517 60,032,279 35,896,232 34,436,546 97,860,749 94,468,825 Machinery and Equipment 2,558,656 2,215,907 5,267,962 5,037,952 7,826,618 7,253,859 Infrastructure 112,272,523 110,037,232 94,529,213 92,786,212 206,801,736 202,823,444 Vehicles 1,213,104 1,508,309 1,055,472 1,577,107 2,268,576 3,085,416 Intang ib le R ig ht-to-Use
Buidlings 1,261,247 805,497 - - 1,261,247 805,497 Intang ib le R ig ht-to-Use
Subscr ip t io n 186,481 131,544 - - 186,481 131,544 Tota l 179,456,528 174,730,768 136,748,879 133,837,817 316,205,407 308,568,585 Total 232,661,465$ 239,146,229$ 159,122,951$ 160,940,589$ 391,784,416$ 400,086,818$ G overnmental Activities Business-Type Activities Total Please see more detailed information regarding the City's capital assets in Note 7 – Capital Assets of the Basic Financial Statements.

Debt Service Administration – At the end of the fiscal year, the City had total long-term debt outstanding of $30.3M which consisted of: 2006 Pension Obligation Bonds in the amount of $30.1M, vehicles/equipment for $91,970 and a loan from PG&E to partially fund the replacement of the City Hall Chiller in the amount of $81,769.

As of June 30, 2024, the $75.3M in Business-Type Activities Long Term Debt comprised of two Water Revenue bonds of, $20.1M and $46.1M and a California Infrastructure and Economic Development Bank (I-Bank) loan for financing the modifications of Pittsburg Water Treatment Plant and other infrastructures in the amount of $9.1M.
16 69
City of Pittsburg
Management's Discussion and Analysis
For the year ended June 30, 2024
City of Pittsburg
Long-Term Debt
June 30, 2024
Please see more detailed information regarding the City's outstanding debt in Note 8 (Long Term Debt) of the Basic Financial Statements.

Looking Forward
The City is proud of the results of the current year’s activities. The Department Heads and their staff take a great deal of pride providing top quality serv ices to the residents and business community, while being fiscally conservative. This approach requires City staff to consistently monitor all of the expenses while exploring and utilizing every alternative revenue source.

Requests for Information – This financial report is designed to provide a general overview of the finances for the City of Pittsburg. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the City of Pittsburg, Finance Department, 65 Civic Avenue, Pittsburg, California 94565. 17 70

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BASIC

FINANCIAL STATEMENTS
19 72

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20 73

GOVERNMENT-WIDE

FINANCIAL STATEMENTS
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22 75
City of Pittsburg
Statement of Net Position
June 30, 2024
Governmental Business-type
Activities Activities Total
ASSETS
Current assets:

Cash and investments 97,402,681$ 65,619,737$ 163,022,418$ Restricted cash and investments 6,596,132 49,533,122 56,129,254 Receivables:

Accounts 12,582,693 6,507,611 19,090,304
Interest 1,134,007 - 1,134,007
Loans/notes 36,957,216 - 36,957,216
Leases 313,295 - 313,295
Internal balances (316,015) 316,015 -
Inventory 794,086 214,642 1,008,728
Prepaid items and other assets 777,382 39,606 816,988
Total current assets 156,241,477 122,230,733 278,472,210 Noncurrent assets:

Leases - 20,955,727 20,955,727
Capital assets:

Land and nondepreciable assets 64,415,461 27,102,772 91,518,233 Depreciable capital assets, net of accumulated depreciation 174,730,768 133,837,817 308,568,585 Total capital assets 239,146,229 160,940,589 400,086,818 Total noncurrent assets 239,146,229 181,896,316 421,042,545 Total assets 395,387,706 304,127,049 699,514,755

DEFERRED OUTFLOWS OF RESOURCES
Pension related 29,545,616 3,992,227 33,537,843
OPEB related 3,236,087 1,022,440 4,258,527
Total deferred outflows of resources 32,781,703 5,014,667 37,796,370

LIABILITIES
Current liabilities:

Accounts payable 9,014,043 3,387,370 12,401,413
Salaries payable 2,163,670 - 2,163,670
Interest payable 617,477 1,358,679 1,976,156
Refundable deposits 2,336,774 1,679,192 4,015,966
Taxes payable 20,197 285,594 305,791
Unearned revenue 14,264,860 2,240,592 16,505,452
Claims payable - due within one year 109,700 - 109,700
Compensated absences - due within one year 2,777,204 586,370 3,363,574 Long-term debt - due within one year 3,099,977 1,920,407 5,020,384 Total current liabilities 34,403,902 11,458,204 45,862,106 Noncurrent liabilities:

Compensated absences 925,733 301,791 1,227,524
Claims payable 7,465 - 7,465
Net pension liability 72,325,965 12,115,051 84,441,016
Net OPEB liability 26,598,110 7,461,251 34,059,361
Long-term debt 28,161,892 73,347,357 101,509,249
Total noncurrent liabilities 128,019,165 93,225,450 221,244,615 Total liabilities 162,423,067 104,683,654 267,106,721

DEFERRED INFLOWS OF RESOURCES
Lease related 272,665 20,143,921 20,416,586 Pension related 2,236,345 245,471 2,481,816 OPEB related 1,936,203 526,932 2,463,135 Total deferred inflows of resources 4,445,213 20,916,324 25,361,537

NET POSITION
Net investment in capital assets 214,480,492 135,205,947 349,686,439 Restricted for:

Capital projects 32,701,167 72,694,171 105,395,338
Housing 36,421,936 - 36,421,936
Debt service 2,749,704 5,162,773 7,912,477
Facility fee reserve - 10,881,263 10,881,263
Total restricted net position 71,872,807 88,738,207 160,611,014 Unrestricted (25,052,170) (40,402,416) (65,454,586) Total net position 261,301,129$ 183,541,738$ 444,842,867$ Primary Government
See accompanying Notes to Basic Financial Statements.
23 76
City of Pittsburg
Statement of Activities
For the year ended June 30, 2024
Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions Total Governmental activities:

General government 7,503,940$ 12,575,083$ 110,686$ 1,331,597$ 14,017,366$ City Council 149,837----
City Manager and City Clerk 601,422 166 - - 166
City Attorney 406,477----
Human resources 1,494,127 140,389 - - 140,389
Finance and services 2,201,883 135,696 - 6 135,702
Community development and services 42,770,732 16,436,163 22,946,501 643,831 40,026,495 Public safety 38,623,313 2,025,303 499,192 - 2,524,495
Public works 19,895,229 3,756,652 7,995,728 1,394,181 13,146,561 Interest on long-term debt 3 ,400,488----
Total governmental activities 117,047,448 35,069,452 31,552,107 3,369,615 69,991,174 Business-type Activities:

Water Utility 27,213,486 27,819,423 - - 27,819,423
Sewer Utility 3,698,845 5,060,858 - - 5,060,858
Marina 3,377,714 3,439,994 89,820 - 3,529,814
Pittsburg Power 10,246,083 11,281,829 84,711 - 11,366,540 Water Front Operations 716,491 797,666 29,515 - 827,181 Total business-type activities 45,252,619 48,399,770 204,046 - 48,603,816 Total primary government 162,300,067$ 83,469,222$ 31,756,153$ 3,369,615$ 118,594,990$ General Revenues:

Taxes:

Property taxes
Sales taxes
Franchise taxes
Gas taxes
Business license taxes
Transient occupancy taxes
Total taxes
Motor Vehicle in-lieu (unrestricted)
Investment earnings-unrestricted
Gain on disposal of assets
Transfers
Total general revenues and transfers
Change in net position
Net Position - Beginning of Year, as previously presented Prior period adjustments
Net Position - Beginning of Year, as restated
Net position - end of year
Program Revenues
See accompanying Notes to Basic Financial Statements.
24 77
Governmental Business-Type
Activities Activities Total
6,513,426$ -$ 6,513,426$
(149,837) - (149,837)
(601,256) - (601,256)
(406,477) - (406,477)
(1,353,738) - (1,353,738)
(2,066,181) - (2,066,181)
(2,744,237) - (2,744,237)
(36,098,818) - (36,098,818)
(6,748,668) - (6,748,668)
(3,400,488) - (3,400,488)
(47,056,274) - (47,056,274)
- 605,937 605,937
- 1,362,013 1,362,013
- 152,100 152,100
- 1,120,457 1,120,457
- 110,690 110,690
- 3,351,197 3,351,197
(47,056,274) 3,351,197 (43,705,077)
5,258,965 - 5,258,965
21,347,108 - 21,347,108
6,466,363 - 6,466,363
4,012,931 - 4,012,931
525,985 - 525,985
478,960 - 478,960
38,090,312 - 38,090,312
6,988,438 - 6,988,438
6,055,779 5,383,235 11,439,014
- 18,929 18,929
943,304 (943,304) -
52,077,833 4,458,860 56,536,693
5,021,559 7,810,057 12,831,616
267,436,794 175,731,681 443,168,475
(11,157,224) - (11,157,224)
256,279,570 175,731,681 432,011,251
261,301,129$ 183,541,738 $ 444,842,867 $
and Changes in Net Position
Net (Expense) Revenue
25 78

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26 79
FUND

FINANCIAL STATEMENTS
Governmental Fund Financial Statements
Proprietary Fund Financial Statements
Fiduciary Fund Financial Statements
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29 82
City of Pittsburg
Balance Sheet
Governmental Funds
June 30, 2024
ASSETS
Cash and investments 23,765,851$ 200$ 5,528,112$ 8,613,028$ Restricted cash and investments - 319,731 507,192 - Receivables:

Accounts 5,354,277 624,264 - 918,649 Interest 1,134,007 - - - Loans and notes 5,331,113 - 27,725,944 - Leases - - - - Due from other funds 1,170,229 - - - Inventory 61,506 1,374 - 57,166 Prepaid items and other assets 8,946 - - - Advances to other funds - - 1,233,134 - Total assets 36,825,929$ 945,569$ 34,994,382$ 9,588,843$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable 1,408,110$ 19,890$ 132,790$ 413,115$ Salaries payable 1,700,071 - - - Taxes payable 19,026 1,201 - - Refundable deposits 2,152,803 6,181 - - Unearned revenue 258,514 91,176 - 13,863,896 Due to other funds - 62,423 - 77,358 Advances from other funds 3,259,270 - 380,000 - Total liabilities 8,797,794 180,871 512,790 14,354,369 Deferred Inflows of Resources
Unavailable revenue 163,252 - 3,251,326 - Leases - - - - Total deferred inflows of resources 163,252 - 3,251,326 - Fund Balances:

Nonspendable 5,401,565 1,374 - 57,166 Restricted - 763,324 31,230,266 - Committed - - - - Assigned 9,820,075 - - - Unassigned 12,643,243 - - (4,822,692) Total fund balances 27,864,883 764,698 31,230,266 (4,765,526) Total liabilities, deferred inflows of
resources and fund balances 36,825,929$ 945,569$ 34,994,382$ 9,588,843$ Special Revenue
General Fund
Housing
Authority
Successor
Agency
Housing Special
Revenue
Miscellaneous
Grants
See accompanying Notes to Basic Financial Statements.
30 83
51,151,274$ 89,058,465$
1,996,375 2,823,298
5,642,820 12,540,010
- 1,134,007
3,900,159 36,957,216
313,295 313,295
- 1,170,229
246,861 366,907
730,996 739,942
5,703,145 6,936,279
69,684,925$ 152,039,648$
6,697,269$ 8,671,174$
- 1,700,071
(30) 20,197
177,790 2,336,774
51,274 14,264,860
916,827 1,056,608
3,672,009 7,311,279
11,515,139 35,360,963
522,780 3,937,358
272,665 272,665
795,445 4,210,023
977,857 6,437,962
39,879,217 71,872,807
20,319,726 20,319,726
107,520 9,927,595
(3,909,979) 3,910,572
57,374,341 112,468,662
69,684,925$ 152,039,648$
Nonmajor
Governmental
Funds
Total
Governmental
Funds
31 84
City of Pittsburg
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2024
Total Fund Balances - Total Governmental Funds 112,468,662$ Capital assets used in governmental activities were not current financial resources. Therefore, they were not reported in the Governmental Funds Balance Sheet. Except for the internal service funds reported below, the capital assets were adjusted as follows:

Government-
Wide Statement
of Net Position
Internal
Service
Funds Total
Nondepreciable 64,415,461$ -$ 64,415,461 Depreciable, net 174,730,768 (1,979,657) 172,751,111 Total capital assets 239,146,229$ (1,979,657)$ 237,166,572 Internal service funds were used by management to charge the costs of certain activities, such as insurance, to individual funds. The assets and liabilities of the Internal service funds were included in governmental activities in the Government-Wide Statement of Net Position. 13,263,400 Unavailable revenues recorded in the fund financial statements resulting from activities in which revenues were earned but were not available are reclassified as revenues in the Government-Wide Financial Statements. 3,937,358 In the Government-Wide Financial Statements, deferred employer contributions for pension and OPEB, certain differences between actuarial estimates and actual results, and other adjustments resulting from changes in assumptions and benefits are deferred in the current year.

Government-
Wide Statement
of Net Position
Internal
Service
Funds
Deferred outflows of resources related to pension 29,545,616$ -$ 29,545,616 Deferred outflows of resources related to OPEB 3,236,087 - 3,236,087 Deferred inflows of resources related to pension (2,236,345) - (2,236,345) Deferred inflows of resources related to OPEB (1,936,203) - (1,936,203) Long-term liabilities were not due and pa yable in the current period.

Therefore, they were not reported in the Governmental Funds Balance Sheet.

Government-
Wide Statement
of Net Position
Internal
Service
Funds Total
Compensated absences - due within one year (2,777,204) 141,452 (2,635,752) Claims payable - due within one year (109,700) 109,700 - Interest payable (617,477) - (617,477)
Long-term debt - due within one year (3,099,977) 113,299 (2,986,678) Compensated absences (925,733) 47,150 (878,583)
Claims payable (7,465) 7,465 -
Long-term debt (28,161,892) 60,439 (28,101,453)
Net pension liability (72,325,965) - (72,325,965)
Net OPEB liability (26,598,110) - (26,598,110) Total long-term liabilities (134,623,523)$ 479,505$ (134,144,018) Net Position of Governmental Activities 261,301,129$
Amounts reported for governmental activities in the statement of net position are different because:

See accompanying Notes to Basic Financial Statements
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City of Pittsburg
Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds
For the year ended June 30, 2024
REVENUES:

Property tax 5,256,976$ -$ -$ -$ Sales tax 21,347,108 - - -
Franchise tax 6,338,139 - - -
Other taxes 1,311,889 - - -
Intergovernmental revenues 13,557,564 22,843,310 751,594 3,918,331 Permits, licenses, and fees 875,864 - - -
Fines and forfeitures 290,073 - - -
Special assessments ----
Service fees 5,104,034 1,769,586 7,500 -
Use of money and property 3,279,220 35 252,019 18,143
Other revenues 2,569,345 253,617 131,952 338,055
Total revenues 59,930,212 24,866,548 1,143,065 4,274,529 EXPENDITURES:

Current:

General government 7,604,694 - - -
City Council 149,837 - - -
City Manager and City Clerk 588,255 - - -
City Attorney 407,084 - - -
Human resources 1,413,201 - - -
Finance and services 1,680,089 - - -
Community development and services 11,282,176 24,293,616 1,141,853 2,276,825 Public safety 34,831,364 - - 240,057
Public works - administration 251,885 - - -
Public works - streets 3,247,017 - - -
Public works - parks 276,589 - - -
Capital outlay and improvements - - - 103,000
Debt service:

Principal retirement - 43,912 105,703 -
Interest and fiscal charges 10,546 7,766 15,887 -
Total expenditures 61,742,737 24,345,294 1,263,443 2,619,882

REVENUES OVER (UNDER)
EXPENDITURES (1,812,525) 521,254 (120,378) 1,654,647
OTHER FINANCING SOURCES (USES):

Transfers in 10,411,621 55,000 - 6,078,288
Transfers out (12,603,468) (24,907) (55,749) (12,322,510) Total other financing sources (uses) (2,191,847) 30,093 (55,749) (6,244,222) Net change in fund balances (4,004,372) 551,347 (176,127) (4,589,575) FUND BALANCES:

Beginning of year, as previously presented 27,571,092 213,351 6,809,763 10,981,273 Prior period adjustments 4,298,163 - 24,596,630 (11,157,224) Beginning of year, as restated 31,869,255 213,351 31,406,393 (175,951) End of year 27,864,883$ 764,698$ 31,230,266$ (4,765,526)$ General Fund
Housing
Authority
Agency
Housing Special
Revenue
Miscellaneous
Grants
Special Revenue
See accompanying Notes to Basic Financial Statements.
34 87
Nonmajor Total
Governmental Governmental
Funds Funds
-$ 5,256,976$
- 21,347,108
128,224 6,466,363
6,864,909 8,176,798
8,500,371 49,571,170
1,794,203 2,670,067
80,078 370,151
4,817,601 4,817,601
4,599,029 11,480,149
1,787,344 5,336,761
1,452,346 4,745,315
30,024,105 120,238,459
82,597 7,687,291
-1 4 9 , 8 3 7
-5 8 8 , 2 5 5
-4 0 7 , 0 8 4
-1 , 4 1 3 , 2 0 1
281,212 1,961,301
3,621,884 42,616,354
491,930 35,563,351
335,102 586,987
12,643,307 15,890,324
-2 7 6 , 5 8 9
11,326,668 11,429,668
2,727,819 2,877,434
1,866,158 1,900,357
33,376,677 123,348,033
(3,352,572) (3,109,574)
34,802,816 51,347,725
(24,592,854) (49,599,488)
10,209,962 1,748,237
6,857,390 (1,361,337)
47,105,025 92,680,504
3,411,926 21,149,495
50,516,951 113,829,999
57,374,341$ 112,468,662$
35 88
City of Pittsburg
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Government-Wide Statement of Activities For the year ended June 30, 2024
Net Change in Fund Balances - Total Governmental Funds (1,361,337)$ Governmental funds reported capital outlay as expenditures. However, in the Government- Wide Statement of Activities, the cost of those assets was allocated over their estimated lives as depreciation expense. This was the amount of capital assets recorded in the current period, net of the amount related to internal service funds.

Capital outlay 16,720,277
Net retirements and adjustments 88,760
Depreciation expense on capital assets was reported in the Government-Wide Statement of Activities, but did not require the use of current financial resources. Therefore, depreciation expense was not reported as expenditures in the governmental funds, net of the amount related to internal service funds. (10,163,123)
Accrued compensated leave payments were reported as expenditures in the governmental funds, however expense is recognized in the Government-Wide Statement of Activities based on earned leave accruals. (266,207)
Repayments of long-term debt are recognized as expenditures in the governmental funds. In the government-wide statements, repayments of long-term liabilities are reported as reductions of liabilities. Expenditures for repayment of the principal portion of long-term debt were not reported in the Government-Wide Statement of Activities.

Repayment of debt, lease and subscription principal 2,877,434 Accreted interest (1,515,205)
Current year employer pension contributions are recorded as expenditures in the governmental funds, however, these amounts are reported as a deferred outflow of resources in the Government-Wide Statement of Net Position. 8,475,009
Pension expense reported in the Government-Wide Statement of Activities does not require the use of current financial resources, and therefore is not reported as expenditures in governmental funds. (13,033,934)
Current year OPEB pension contributions are recorded as expenditures in the governmental funds, however, these amounts are reported as a deferred outflow of resources in the Government-Wide Statement of Net Position. 2,168,821
OPEB expense reported in the Government-Wide Statement of Activities does not require the use of current financial resources, and therefore is not reported as expenditures in governmental funds. (1,383,486)
Some expenses reported in the statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds.

Change in accrued interest payable 13,309
Change in unavailable revenues 418,095
Internal service funds were used by management to charge the costs of certain activities, such as insurance and fleet management, to individual funds. The net revenue of the internal service funds was reported with governmental activities. 1,983,146 Change in Net Position of Governmental Activities 5,021,559$ Amounts reported for governmental activities in the Government-Wide Statement of Activities were different because:

See accompanying Notes to Basic Financial Statements
36 89

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37 90
City of Pittsburg
Statement of Net Position
Proprietary Funds
June 30, 2024
ASSETS
Current Assets:

Cash and investments 44,683,491$ 6,069,954$ 2,150,072$ Restricted cash and investments 49,533,122 - -
Receivables:

Accounts 4,186,362 694,694 (116)
Inventory 128,301 24,823 5,621 Prepaid items and other assets 36,059 193 3,354
Total current assets 98,567,335 6,789,664 2,158,931
Noncurrent:

Leases receivable - - 609,713
Advances to other funds - 53,670 -
Capital assets:

Nondepreciable capital assets 20,840,436 360,059 1,767,506 Depreciable capital assets 107,918,350 67,641,243 22,284,480 Accumulated depreciation (36,349,854) (23,378,241) (12,695,172) Net capital assets 92,408,932 44,623,061 11,356,814
Total noncurrent assets 92,408,932 44,676,731 11,966,527 Total assets 190,976,267 51,466,395 14,125,458

DEFERRED OUTFLOWS OF RESOURCES
Deferred outflow related to pension 1,939,082 456,254 342,191 Deferred outflow related to OPEB 594,097 135,463 100,443 Total deferred outflows of resources 2,533,179 591,717 442,634

LIABILITIES
Current liabilities:

Accounts payable 2,519,301 51,446 56,553
Salaries payable ---
Refundable deposits 1,637,172 - (81,625)
Taxes payable -- (266)
Accrued interest payable 1,358,679 --
Due to other funds 112,655 - -
Unearned revenue ---
Compensated absences - current 337,202 85,496 35,339
Claims payable - current ---
Long-term debt - current portion 1,920,407 - -
Total current liabilities 7,885,416 136,942 10,001
Noncurrent liabilities:

Advances from other funds ---
Compensated absences 196,177 44,742 19,129
Claims payable ---
Net pension liability 5,884,453 1,384,578 1,038,433
Net OPEB liability 3,880,297 1,092,717 869,691
Long-term debt 73,347,357 - -
Total noncurrent liabilities 83,308,284 2,522,037 1,927,253 Total liabilities 91,193,700 2,658,979 1,937,254

DEFERRED INFLOWS OF RESOURCES
Deferred inflow related to leases - - 561,593
Deferred inflow related to pension 119,229 28,054 21,040 Deferred inflow related to OPEB 265,226 79,189 64,063
Total deferred inflows of resources 384,455 107,243 646,696

NET POSITION
Net investment in capital assets 66,674,290 44,623,061 11,356,814 Restricted for:

Capital projects 70,579,152 777,739 240,000
Debt service 5,162,773 - -
Special purpose ---
Facility fees 10,117,910 763,353 -
Unrestricted (50,602,834) 3,127,737 387,328
Total net position 101,931,291$ 49,291,890$ 11,984,142$ Major Enterprise Funds
Water Utility Sewer Utility Marina
See accompanying Notes to Basic Financial Statements
38 91
Governmental
Total Activities
Enterprise Internal
Funds Service Funds
10,829,626$ 1,886,594$ 65,619,737$ 8,344,216$ - - 49,533,122 3,772,834
1,622,998 3,673 6,507,611 42,683
55,897 - 214,642 427,179 -- 3 9,606 37,440
12,508,521 1,890,267 121,914,718 12,624,352
3,835,531 16,510,483 20,955,727 -
375,000 - 428,670 - H
4,121,098 13,673 27,102,772 -
20,620,643 1,583,966 220,048,682 13,711,803
(13,741,561) (46,037) (86,210,865) (11,732,146)
11,000,180 1,551,602 160,940,589 1,979,657
15,210,711 18,062,085 182,324,986 1,979,657
27,719,232 19,952,352 304,239,704 14,604,009 1,026,573 228,127 3,992,227 -
167,070 25,367 1,022,440 -
1,193,643 253,494 5,014,667 - 467,016 293,054 3,387,370 342,869
- - - 463,599
25,527 98,118 1,679,192 -
285,860 - 285,594 -
- - 1,358,679 -
- - 112,655 966
1,599,463 641,129 2,240,592 -
116,016 12,317 586,370 141,452
- - - 109,700
- - 1,920,407 113,299
2,493,882 1,044,618 11,570,859 1,171,885
--- 5 3,670 H
35,747 5,996 301,791 47,150
--- 7 ,465
3,115,299 692,288 12,115,051 -
1,341,499 277,047 7,461,251 -
- - 73,347,357 60,439
4,492,545 975,331 93,225,450 168,724
6,986,427 2,019,949 104,796,309 1,340,609 3,669,293 15,913,035 20,143,921 -
63,121 14,027 245,471 -
97,109 21,345 526,932 -
3,829,523 15,948,407 20,916,324 - 11,000,180 1,551,602 135,205,947 1,805,919
536,953 560,327 72,694,171 -
- - 5,162,773 -
- - - 3,772,834
- - 10,881,263 -
6,559,792 125,561 (40,402,416) 7,684,647
18,096,925$ 2,237,490$ 183,541,738$ 13,263,400$ Major Enterprise Funds
Pittsburg Power
Water Front
Operations
39 92
City of Pittsburg
Statement of Revenues, Expenses and Changes in Net Position Proprietary Funds
For the year ended June 30, 2024
OPERATING REVENUES:

Charges for services 26,308,949$ 4,960,549$ 1,353,191$ Meter fees 16,219 - -
Other fees 412,979 - -
Facility reserve fees 498,414 19,549 -
Rent and concessions - - 51,603
Gas and oil sales - - 712,954
Other operating revenues 582,862 80,760 1,322,246
Total operating revenues 27,819,423 5,060,858 3,439,994 OPERATING EXPENSES:

Salaries and wages 4,120,666 970,127 517,887
Department supplies 9,334,537 65,009 617,028
Rentals ---
Utilities 1,058,782 20,256 259,470
Maintenance and operations 1,713,769 310,905 848,533
Depreciation and amortization 1,837,062 1,090,123 464,865 Insurance premiums ---
Insurance deductible 398,019 79,502 46,579
Fringe benefits 3,542,448 818,884 433,667
Other operating expenses 1,241,417 344,039 189,685
Total operating expenses 23,246,700 3,698,845 3,377,714 Operating income (loss) 4,572,723 1,362,013 62,280
NONOPERATING REVENUES (EXPENSES):

Investment earnings 3,795,342 189,797 131,330
Intergovernmental - - 89,820
Gain/(loss) on disposal of assets -- ( 3,528)
Interest and fiscal charges (3,966,786) - -
Total nonoperating revenues (expenses) (171,444) 189,797 217,622 Income before contributions and transfers 4,401,279 1,551,810 279,902 CONTRIBUTIONS AND TRANSFERS:

Transfers in 1,529,679 - 1,955,000
Transfers out (929,625) (2,047,540) (377,659)
Total contributions and transfers 600,054 (2,047,540) 1,577,341 Change in net position 5,001,333 (495,730) 1,857,243
NET POSITION:

Beginning of year 96,929,958 49,787,620 10,126,899
End of year 101,931,291$ 49,291,890$ 11,984,142$ Major Enterprise Funds
Water Utility Sewer Utility Marina
See accompanying Notes to Basic Financial Statements
40 93
Governmental
Total Activities
Enterprise Internal
Funds Service Funds
9,637,013$ 3,840$ 42,263,542$ 18,084,179$ - - 16,219 -
1,117,257 - 1,530,236 416
- - 517,963 -
158,194 793,576 1,003,373 -
- - 712,954 -
369,365 250 2,355,483 397,835
11,281,829 797,666 48,399,770 18,482,430
1,695,491 91,082 7,395,253 1,415,719
3,761,421 337 13,778,332 1,345,346
- - - 45,493
31,754 - 1,370,262 535,199
1,610,448 39,057 4,522,712 1,802,905
510,279 5,415 3,907,744 700,195
627,904 - 627,904 3,436,482
64,770 19,608 608,478 193,457
1,314,589 144,486 6,254,074 6,637,297
629,427 416,506 2,821,074 53,172
10,246,083 716,491 41,285,833 16,165,265
1,035,746 81,175 7,113,937 2,317,165
596,167 670,599 5,383,235 270,299
84,711 29,515 204,046 -
22,457 - 18,929 198,850
- - (3,966,786) 1,765
703,335 700,114 1,639,424 470,914
1,739,081 781,289 8,753,361 2,788,079
57,150 105,000 3,646,829 824,280
(912,518) (322,791) (4,590,133) (1,629,213)
(855,368) (217,791) (943,304) (804,933)
883,713 563,498 7,810,057 1,983,146
17,213,212 1,673,992 175,731,681 11,280,254
18,096,925$ 2,237,490$ 183,541,738$ 13,263,400$ Major Enterprise Funds
Pittsburg Power
Water Front
Operations
41 94
City of Pittsburg
Statement of Cash Flows
Proprietary Funds
For the year ended June 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers and users 26,884,091$ 4,957,767$ 1,884,129$ Cash payments to suppliers of goods and services (13,633,992) (792,564) (2,048,121) Cash payments to or on behalf of employees for services (7,327,685) (1,711,786) (898,017) Other operating revenues 582,862 80,760 1,322,246
Net cash provided by (used in) operating activities 6,505,276 2,534,177 260,237 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:

Interfund receipts 112,655 26,238 -
Intergovernmental receipts - - 89,820
Interfund payments ---
Transfers in 1,529,679 - 1,955,000
Transfers out (929,625) (2,047,540) (377,659)
Net cash provided by (used in) noncapital financing activities 712,709 (2,021,302) 1,667,161 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:

Principal paid on long-term debt (1,937,032) --
Interest and fiscal charges paid on long-term debt (3,344,528) -- Proceeds from sale of capital assets ---
Acquisition of capital assets (3,379,136) (351,107) (1,636,222) Net cash provided by (used in)
capital and related financing activities (8,660,696) (351,107) (1,636,222) CASH FLOWS FROM INVESTING ACTIVITIES:

Interest on and changes in market value of investments 3,795,342 189,797 131,330 Net cash provided by (used in) investing activities 3,795,342 189,797 131,330 Net cash flows 2,352,631 351,565 422,506 CASH AND INVESTMENTS - Beginning of year 91,863,982 5,718,389 1,727,566 CASH AND INVESTMENTS - End of year 94,216,613$ 6,069,954$ 2,150,072$

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:

Operating income (loss) 4,572,723$ 1,362,013$ 62,280$ Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities:

Depreciation 1,837,062 1,090,123 464,865
(Increase) decrease in accounts receivable (434,320) (22,331) 9,046 (Increase) decrease in inventory - - 3,528
(Increase) decrease in prepaid expense (5,104) (2) (40) (Increase) decrease in leases receivable and related deferred inflows of resources - - (16,246) Increase (decrease) in accounts payable 117,636 27,149 (89,784) Increase (decrease) in salaries and wages payable ---
Increase (decrease) in refundable deposits 81,850 - (226,419) Increase (decrease) in taxes payable -- (530)
Increase (decrease) in unearned revenue ---
Increase (decrease) in compensated absences 83,776 16,243 7,359 Increase (decrease) in net pension liability and related deferred outflows and inflows 399,144 93,918 70,438 Increase (decrease) in net OPEB liability and related deferred outflows and inflows (147,491) (32,936) (24,260) Increase (decrease) in claims payable ---
Net cash provided by (used in) operating activities 6,505,276$ 2,534,177$ 260,237$ NONCASH TRANSACTIONS:
(Loss) on disposal of assets -$ -$ (3,528)$ Major Enterprise Funds
Water Utility Sewer Utility Marina
See accompanying Notes to Basic Financial Statements
42 95
Governmental
Total Activities
Enterprise Internal
Funds Service Funds
11,515,840$ 740,324$ 45,982,151$ 18,060,857$ (7,106,571) (305,052) (23,886,300) (7,357,009)
(2,842,342) (192,664) (12,972,494) (8,431,022) 369,365 250 2,355,483 398,251
1,936,292 242,858 11,478,840 2,671,077 3,434,399 - 3,573,292 -
84,711 29,515 204,046 -
(3,434,399) - (3,434,399) (26,244)
57,150 105,000 3,646,829 824,280
(912,518) (322,791) (4,590,133) (1,629,213)
(770,657) (188,276) (600,365) (831,177) -- (1,937,032) (316,237)
-- (3,344,528) 1,765
22,457 - 22,457 198,850
(362,445) - (5,728,910) (539,045)
(339,988) - (10,988,013) (654,667) 596,167 670,599 5,383,235 270,299
596,167 670,599 5,383,235 270,299 1,421,814 725,181 5,273,697 1,455,532 9,407,812 1,161,413 109,879,162 10,661,518 10,829,626$ 1,886,594$ 115,152,859$ 12,117,050$ 1,035,746$ 81,175$ 7,113,937 2,317,165 510,279 5,415 3,907,744 700,195
541,569 25 93,989 (23,322)
- - 3,528 10,000
5,775 - 629 (34,494)
(54,906) (516,398) (587,550) - (339,987) 170,456 (114,530) 72,074
--- (383,330)
(3,231) - (147,800) -
(46,635) - (47,165) -
119,944 459,281 579,225 -
(2,926) 1,890 106,342 5,324
211,312 46,958 821,770 - (40,648) (5,944) (251,279) - - - - 7,465
1,936,292$ 242,858$ 11,478,840$ 2,671,077$ -$ -$ -$ -$ Major Enterprise Funds
Pittsburg Power
Water Front
Operations
43 96

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44 97
City of Pittsburg
Statement of Fiduciary Net Position
Fiduciary Funds
For the year ended June 30, 2024
Custodial
Funds
ASSETS
Cash and investments 3,502,238$ 5,499,122$
Cash and investments held with fiscal agnet 45,878,302 1,524,704 Assessment receivable - 808,795 Inventory 16,821 -
Loans receivable 6,547,055 -
Capital assets:

Land 1,151,580 -
Depreciable capital assets 1,919,493 -
Accumulated depreciation (590,615) -
Total assets 58,424,874 7,832,621

LIABILITIES
Accounts payable 161,296 39,340
Interest payable 4,927,846 -
Deferred assessments
Due within one year 29,105 843,154
Due in more than one year 9,701 -
Long-term liabilities:

Due within one year 25,805,000 -
Due in more than one year 136,307,275 -
Total liabilities 167,240,223 882,494

NET POSITION
Restricted for:

Held in trust for private purposes (108,815,349) 6,950,127 Total Net Position (108,815,349)$ 6,950,127$
Successor
Agency to the
Redevelopment
Agency Private-
Purpose Trust
See accompanying Notes to Basic Financial Statements.
45 98
City of Pittsburg
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the year ended June 30, 2024
Custodial
Funds
ADDITIONS:

Property tax and special assessments 32,161,001$ 3,491,990$ Use of money and property (Fid Funds) 1,500,347 196,565 Other revenues 365,336 -
Total additions 34,026,684 3,688,555
DEDUCTIONS:

General administration 592,384 90,458
Depreciation and amortization 43,542 -
Payment to bond holders - 1,648,665 Interest and fiscal charges 10,712,396 -
Total deductions 11,348,322 1,739,123
Change in net position 22,678,362 1,949,432
NET POSITION:

Beginning of year (131,493,711) 5,000,695
End of year (108,815,349)$ 6,950,127$
Successor
Agency to the
Redevelopment
Agency Private-
Purpose Trust
See accompanying Notes to Basic Financial Statements.
46 99

NOTES TO BASIC

FINANCIAL STATEMENTS
47 100

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48 101
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the City of Pittsburg, California (City) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental agencies. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the City’s accounting policies are described below.

A. Reporting Entity
The City was incorporated under the General Laws of the State of California and enjoys all the rights and privileges pertaining to such “General Law” cities. The City uses the City Council/Manager form of government. The financial reporting entity consis ts of (a) the primary government, the City, (b) organizations for which the primary government is financially accountable, and (c) other organizations for which the primary government is not accountable, but for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity’s financial statements to be misleading or incomplete.

Component units are legally separate organizations for which the elected officials of the primary government are financially accountable. In addition, component units can be other organizations for which the primary government’s exclusion would cause the reporting entity’s financial statements to be misleading or incomplete.

The criteria used in determining the scope of the reporting entity are based on the provisions of Governmental Accounting Standards Board (GASB) Statement No. 14, as amended by No. 61. The City is the primary governmental unit. Component units are those entities which are financially accountable to the primary government, either because the City appoints a voting majority of the component unit’s board, or because the component unit will provide a financial benefit or impose a financial burden on the City. The following entities have been accounted for as “blended” component units of the City. Despite being legally separate, these entities are so intertwined with the City that they are, in substance, part of the City’s operations. Accordingly, the balances and transactions of these component units are reported within the funds of the City. Balances for these entities are reported as separate funds in the special revenue and enterprise funds. The following specific criteria are used in determining that these other entities are blended component units:
x The members of the City Council also act as the governing bodies of the entities. x The entities are managed by employees of the City. A portion of the City’s salary and overhead expenses are billed to the entities each year.
x The City and the entities are financially interdep endent. The City makes loans to the entities for community development purposes and for operational purposes. General revenues of the agencies are used to repay the loans to the City.
49 102
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued A. Reporting Entity, Continued
The following is a brief review of the component un its included in the accompanying basic financial statements of the City:

Housing Authority
Housing Authority Section 8, in the accompanying financial statements, was es tablished to account for Federal funds for low income housing under both certificate and voucher programs. The Housing Authority also administers the Veterans Affairs Supportive Housing (VASH), which provides rental and other clinical services to homeless veterans. The Housing Authority is reported as a blended component unit because the Board is made up of the City Council members, and the Housing Authority has a financial benefit/burden relationship with the City . The Housing Authority is reported in the special revenue fund of the City. No separate financial report is issued by the Housing Authority.

Successor Agency
The Successor Agency was established to account for activities related to the assets assumed by the City as Housing Successor to the Pittsburg Redevelopment Agency for the housing activities of the former Redevelopment Agency. The Successor Agency is reported as a blended component unit because the Board is made up of the City Council members, and has a financial benefit/burden relationship with the City. The Successor Agency is reported in the special revenue fund of the City. No separate financial report is issued by the Successor Agency.

Successor Agency Housing
The Housing Successor Agency was established to account for activities related to the assets assumed by the City as Housing Successor to the Pittsburg Redevelopment Agency for the housing activities of the former Redevelopment Agency. The Housing Successor is reported as a blended component unit because the Board is made up of the City Council members, and has a financial benefit/burden relationship with the City. The Successor Agency Housing is reported in the special revenue fund of the City. No separate financial report is issued by the Housing Successor Agency.

Pittsburg Infrastructure Financing Authority
The Public Infrastructure Financing Authority (PIFA) was established by a Joint Exercise of Powers Agreement dated December 5, 1994, by and among the City and the former Redevelopment Agency, and is qualified to issue bonds under the Mello-Roos Local Bond Pooling Act of 1985. The PIFA was formed to finance the acquisition of certain public improv ements and to refinance prior outstanding special assessment district debt with City commitment. The PIFA is reported as a blended component unit because its governing body consists of City Council members, and the PIFA has a financial benefit/burden relationship with the City. The PIFA is currently inactive; therefore, no separate financial report is issued.
50 103
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued A. Reporting Entity, Continued
Southwest Pittsburg GHAD II
The Southwest Pittsburg GHAD II (GHAD) was esta blished by City Council in order to provide maintenance of slope stability in the open spaces areas of Southwest Pittsburg. Funding for the GHAD is provided through assessment fees levied on the property taxes of the homes built on the hillside areas.

This fund centralizes the accounting for the revenues and expenses associated with GHAD as required by law. The GHAD is reported as a blended component unit because its governing body consists of City Council members, and the GHAD has a financial benefit/burden relationship with the City. No separate financial report is issued by the GHAD.

Pittsburg Power Company
The Pittsburg Power Company (the Company) was established by a Joint Exercise of Powers Agreement dated September 23, 2006, by and among the City and the Agency. The Company was formed to establish a municipal utility for natural gas and electric servic e. The Company is reported in the Pittsburg Power enterprise fund of the City. The Company is reported as a blended component unit because its governing body consists of City Council members, and the Company has a financial benefit/burden relationship with the City. No separate financial report is issued by the Company.

Pittsburg Arts and Community Foundation
The Pittsburg Arts and Community Foundation (PACF) was created as an independent non-profit corporation set up to increase, support and encourag e art, literacy, education, economic development, affordable housing and other community resources and programs to benefit the City of Pittsburg and its residents.

Since the City of Pittsburg and PACF have the same governing board, have a financial benefit/burden relationship and the City can impose its will on PA CF, it is required to be reported as a blended component unit of the City. Its financial information can be found as a special revenue fund under non- major Governmental Funds. No separate financial report is issued by PACF.

B. Basis of Accounting and Measurement Focus
The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for in a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures or expenses, as appropriate. City resources are allocated to and accounted for in individual funds based upon the purpose for which they are to be spent and the means by which spending activities are controlled. 51 104
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Government-Wide Financial Statements
The Government-Wide Financial Statements include a Statement of Net Position and a Statement of Activities. These statements present summaries of Governmental and Business-Type Activities for the City accompanied by a total column.

These financial statements are presented on an “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all of the City’s assets and deferred outflows and liabilities and deferred inflows, including capital assets, as well as infrastructure assets, and long-term liabilities and deferred inflows, are included in the accompanying Statement of Net Position. The Statement of Activities presents changes in net position. Under the accrual basis of a ccounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred.

Certain types of transactions reported as program revenues for the City are reported in three categories:
• Charges for services
• Operating grants and contributions
• Capital grants and contributions
Certain eliminations have been made as prescribed by GASB Statement No. 34 in regard to inter-fund activities, payables and receivables. All internal balances in the Statement of Net Position have been eliminated except those representing balances between the governmental activities and the business- type activities, which are presented as internal balances and eliminated in the total primary government column. In the Statement of Activities, internal fund transactions have been eliminated; however, those transactions between governmental and business-type activities have not been eliminated. The following inter-fund activities have been eliminated:
• Due to/from other funds
• Advances from/to other funds
• Transfers in/out
The City applies all applicable GASB pronounc ements (including all NCGA Statements and Interpretations currently in effect).

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

The following are descriptions of the major funds.
52 105
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Governmental Fund Financial Statements, Continued
General Fund - This fund is used for all the general revenues of the City not specifically levied or collected for other City funds and the related expenditures. Th e General Fund accounts for all financial resources which are not accounted for in another fund. To comp ly with GASB 54, the Budget Stabilization balance is combined and reported under the General Fund. Details are as follows:

Housing Authority (Section 8) Special Revenue Fund – This fund was established to administer grants from Housing and Urban Development Department (HUD ) to subsidize the rental costs of low-income families and veterans.

Successor Agency Housing Special Revenue Fund – This fund accounts for the activities related to the housing assets assumed by the City as Housing Su ccessor to the former Redevelopment Agency. The activities are governed by California redevelopment law and must be used to provide housing for people with low and moderate incomes.

Miscellaneous Grants Special Revenue Fund – This fund receives various grants to administer the police, recreation, public services and the American Rescue Plan Act funding.

All governmental funds are accounted for on a spending or "current financial resources" measurement focus and the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on the Balance Sheets. The Statement of Revenues, Expenditures and Changes in Fund Balances presents increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current position. Under the mo dified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period. Accordingly, revenues are recorded when received in cash, except that revenues subject to accrual (generally 60 days after year-end) are recognized when due. The primary revenue sources, which have been treated as susceptible to accrual by the City, are property tax, charges for services, Federal and State grants, sales taxes and earnings on investments. Expenditures are recorded in the accounting period in which the related fund liability is incurred.

Reconciliations of the Fund Financial Statements to the Government-Wide Financial Statements are provided to explain the differences created by the integrated approach. 53 106
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Proprietary Fund Financial Statements
Proprietary Fund Financial Statements include a Statement of Fund Net Position, a Statement of Revenues, Expenses and Changes in Fund Net Position, and a Statement of Cash Flows for each major proprietary fund and non-major funds aggregated.

A separate column representing internal service fund s is also presented in these statements. However, internal service balances and activities have been combined with the governmental and business-type activities in the government-wide financial statements as appropriate.

Proprietary funds are accounted for using the “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all assets, deferred outflows, liabili ties and deferred inflows (whether current or noncurrent) are included on the Statement of Fund Net Position. The Statement of Revenues, Expenses and Changes in Fund Net Position present increases (revenues) and decreases (expenses) in total net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred.

Operating revenues in the proprietary fund are those revenues that are generated from the primary operations of the fund. All other revenues are reported as non-operating revenues. Operating expenses are those expenses that are essential to the primary operations of the fund. All other expenses are reported as non-operating expenses.

The following are descriptions of the major enterprise funds.

Water Utility Fund – This fund accounts for the revenues and expenses associated with management, operation, and maintenance of water treatment and distribution system to water customers of the City of Pittsburg. It also accounts for the maintenance of water plant, distribution reservoirs, and water lines.

Sewer Utility Fund – This fund accounts for the revenues and expenses associated with the maintenance and repair of 126 miles of sewer mains, sewer lift stat ions and sewer laterals within the City's right-of- way.

Marina Fund – This fund accounts for the revenues received from Marina berth rentals, from sales of gasoline, and expenses from operation and maintenance.

Pittsburg Power Fund – This fund was created by the Joint Powers Agreement between the City of Pittsburg and the former Redevelopment Agency to develop revenue streams, to manage different activities for power related projects, capital improvement projects, and bond issuance process. This fund also accounts for expenditures incurred in maintenance of the facilities, in distributing gas and electricity to the industries, schools, business, and residents of Mare Island, in Vallejo, and to account for revenues collected from services to customers.
54 107
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Proprietary Fund Financial Statements, Continued
Water Front Operations Fund – This fund was created for the collection of rents and other trust revenues from the tidelands granted by the Contra Costa Co unty Local Agency Formation Commission within Pittsburg's city limits. The City shall submit a plan indicating details of intended development, preservation, or other use of the trust lands. Any use of the trust lands shall be consistent with the plan as approved by the Commission.

Internal service fund balances and activities have been combined with governmental activities in the government-wide financial statements, and are comprised of the following funds:

Fleet Maintenance Fund – Used to account for the costs of operating, main taining, and replacing automotive equipment used by other departments. Rental rates charged to the using departments include operating costs and equipment depreciation.

Building Maintenance Fund – Used to account for the cost of maintaining all City governmental buildings.

Insurance Fund – Used to account for revenues from charges to operating departments sufficient to provide adequate reserve for future claims.

Information/Communication Services Fund – Used to account for the cost of operating, maintaining and replacing a data processing system. Rental rates charged to the using departments include operating cost and equipment depreciation.

Fringe Benefits Fund – Used to allocate fringe costs to various departments.

Other Post-Employment Benefits (OPEB) Fund – Used to reduce unfunded OPEB liabilities and to pay the City’s portion of current year retiree medical ex penses. This fund receives its funding from surplus funds beyond the maximum amount required for the Budget Stabilization reserve (25% of surplus) and from Citywide allocations based on salaries.
115 Pension Trust Reserve Fund – Used to accumulate funds to pay down CalPERS Unfunded Accrued Liability.

The City also reports fiduciary fund types.

Fiduciary Fund Financial Statements
Fiduciary fund financial statements include a Statement of Fiduciary Net Position and a Statement of Changes in Fiduciary Net Position. The City’s fiduciary funds represent a private purpose trust fund and custodial funds. Custodial funds account for assets held by the City in a purely custodial capacity.

Custodial funds typically involve only the receipt, temporary investment and remittance of fiduciary resources to individuals, private organizations or other governments. 55 108
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT AC COUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Fiduciary Fund Financial Statements, Continued
The Fiduciary funds are presented on an “economic resources” measurement focus and the accrual basis of accounting.

Successor Agency to the Redevelopment Agency Priv ate Purpose Trust Fund (Successor Agency) – This fund was created to account for the accumulation of resources to be used for payments at appropriate amounts and times in the future.

Assessment Districts Custodial Fund accounts for the collection of property taxes and the payments to bondholders.

Other Impact Fees Custodial Fund accounts for the co llection of developer fees on behalf of the Contra Costa Fire Protection District (CCFPD), Contra Costa Water District (CCWD) and the East Contra Costa Regional Fee and Finance Authority (ECCRFF).

C. Use of Restricted/Unrestricted Net Position
When an expense is incurred for purposes for which both restricted and unrestricted net position are available, the City’s policy is to apply restricted net position first.

D. Spending Policy
The City’s policy is to spend restricted fund balances first, before spending unrestricted fund balances, for expenditures incurred for purposes for which both restricted and unrestricted fund balances are available, except for instances wherein an Agency ordinance or resolution specifies the fund balance.

The Agency’s policy is that committed and assigned fund balances are considered to have been spent first before unassigned fund balances have been spent, when expenditures are incurred for purposes for which amounts in any of those unrestricted fund balance classifications could be us ed, except for instances wherein an Agency ordinance specifies the fund balance. 56 109
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued E. Cash and Investments
The City pools its available cash for investment purposes. The City’s cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with an original maturity of three months or less from the date of acquisition. Cash and cash equivalents are combined with investments and displayed as Cash and Investments.

In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools, highly liquid market investments with maturities of one year or less at time of purchase are stated at amortized cost. All other investments are stated at fair value. Market value is used as fair value for those securities for which market quotations are readily available.

The City participates in an investment pool manage d by the State of California, entitled Local Agency Investment Fund (LAIF), which has invested a portion of the pool funds in Structured Notes and Asset- Backed Securities. LAIF’s investments are subject to credit risk with the full faith and credit of the State of California collateralizing these investments. In addition, these Structured Notes and Asset-Backed Securities are subject to market risk as to change in interest rates.

In accordance with GASB Statement No. 40, Deposit and Investment Disclosures (Amendment of GASB No. 3), certain disclosure requirements for Deposits and Investment Risks were made in the following areas:
• Interest Rate Risk
• Credit Risk
• Overall Custodial Credit Risk
• Concentrations of Credit Risk
In addition, other disclosures are specified includin g use of certain methods to present deposits and investments, highly sensitive investments, credit quality at year-end and other disclosures.

F. Restricted Cash and Investments
Certain restricted cash and investments are held by fiscal agents for the redemption of bonded debt and for acquisition and construction of capital projects, and for pension trust reserves deposited in a Section 115 irrevocable trust.
57 110
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued G. Property Taxes
Under California law, property taxes are assessed and collected by the counties up to 1% of assessed value, plus other increases approved by the voters . The property taxes go into a pool, and are then allocated to the cities based on complex formulas. A ccordingly, the City accrues only those taxes which are receivable from the county within sixty days after year-end.

Property taxes levied are recorded as revenue when re ceived, in the fiscal year of levy, because of the adoption of the “alternate method of property tax distribution,” known as the Teeter Plan, by the City and Contra Costa County. The Teeter Plan authorizes the Auditor/Controller of Contra Costa County to allocate 100% of the secured property taxes billed, but not yet paid.

H. Interfund Balances/ Internal Balances
Advances to and advances from other funds represent inter-fund loans in the fund financial statements.

Advances between funds are offset by a fund balance reservation or by deferred revenue in the applicable governmental funds to indicate that they are not expendable available financial resources.

Any unpaid interest due to lack of funds in the borrowing fund increases the principal owed and is reported in the lending fund as deferred revenue.

All other outstanding balances between funds are reported as due to and due from other funds. These are generally repaid within the following fiscal year.

Any residual balances outstanding between the governmental activities and business-type activities are reported in the Government-Wide Financial Statements as “internal balances.” I. Capital Assets
Capital assets, which include land, buildings, im provements other than buildings, machinery and equipment and infrastructure assets (e.g. roads, bridges, sidewalks, and similar items), are reported in the applicable governmental or business-type activiti es in the Government-Wide Financial Statements.

Capital assets are recorded at historical cost or estimated historical cost if actual cost is not available, except for intangible right-to-use lease assets, th e measurement of which is discussed in Note 4.

Contributed capital assets are valued at their estimated acquisition value on the date contributed. 58 111
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued I. Capital Assets, Continued
City policy has set the capitalization thresholds for reporting capital assets as follows:

Depreciation is recorded on a straight-line method over the useful lives of the assets as follows:

The GASB Statement No. 34 requires the inclusion of infrastructure capital assets in local governments’ basic financial statements. In accordance with GASB Statement No. 34, the City has included the value of all infrastructure assets in its Government-Wide Financial Statements.

The City defines infrastructure as the basic physical assets that allow the City to function. The assets include:
• Street system
• Site amenities such as parking and landscaped areas used by the City in the conduct of its business • Water and sewer plants
Each major infrastructure system can be divided into subsystems. For example the street system can be subdivided into pavement, curb and gutters, sidewa lks, medians, streetlights, traffic control devices (signs, signals and pavement markings), landscaping and land. These subsystems were not delineated in the Government-Wide Financial Statements. The appropriate operating department maintains information regarding the subsystems.

For all infrastructure systems, the City has elected to use the Basic Approach as defined by GASB Statement No. 34 for infrastructure reporting. The City conducted a valuation of its infrastructure assets as of July 1, 2002. This valuation determined the original cost using one of the following methods:
1) Use of historical records where available.
2) Standard unit costs appropriate for the construction/acquisition date of the asset. 3) Present replacement cost indexed by a reciprocal factor of the price increase from the construction/acquisition date to the current date.

The accumulated depreciation, defined as the total depreciation from the date of construction/acquisition to the current date was computed on a straight-line method using industry accepted life expectancies for each infrastructure subsystem. The book value was then computed by deducting the accumulated depreciation from the original cost.
59 112
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued I. Capital Assets, Continued
Interest accrued during capital assets construction, if any, is capitalized for the business-type activities and proprietary funds as part of the asset cost.

J. Interest Payable
In the government-wide financial statements, interest payable on long-term debt i s r e c o g n i z e d as t h e liability incurred for governmental fund types and proprietary fund types.

In the fund financial statements, propriety fund types recognize the interest payable when the liability is incurred.

K. Long-Term Debt
Government-Wide Financial Statements
Long-term debt and other financial obligations are reported as liabilities in the appropriate activities.

Bond premiums and discounts, as well as issuance costs, are deferred and amortized over the life of the bonds using the straight-line method. Bonds payable are reported net of the applicable premium or discount.

Fund Financial Statements
The Governmental Fund Financial Statements do not present long-term debt, which are shown in the Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position.

Governmental funds recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued and lease liabilities are reported as other financial sources.

Premiums received on debt issuance are reported as other financing sources while discounts on debt issuance are reported as other financing uses. Issuan ce costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

Proprietary Fund Financial Statements use the same principles as those used in the Government-Wide Financial Statements.
60 113
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued L. Unearned Revenue
Government-Wide Financial Statements
Unearned revenue is recognized for transactions for which revenue has not yet been earned. Typical transactions recorded as unearned revenues in the Government-Wide Financial Statements are unearned grants and prepaid charges for services.

Fund Financial Statements
Unavailable revenue is recorded when transactions have not yet met the revenue recognition criteria based on the modified accrual basis of accounting. The City records unavailable revenue for transactions for which funds are not available to meet current fi nancial obligations. Typical transactions for which unavailable revenue is recorded are grants received but not yet earned or available, interest on inter-fund advances receivable and long-term loans receivable.

M. Compensated Absences
City employees have vested interests in varying levels of vacation compensation. If vacation is not used by the employee during the term of employment, compensation is payable to the employee at the time of retirement or termination. Such compensation is calculated at the employee’s then prevalent rate at the time of retirement or termination and compensated at 100% of accumulated hours. The City’s liability for compensated absences is recorded in various Governmental funds or Proprietary funds as appropriate.

The liability for compensated absences is determined annually. Compensated absences for governmental activities are liquidated primarily by the General Fund.

Governmental funds include only amounts expected to be paid after the end of the fiscal year for terminated employees. The long-term liabilities are recorded in the Statement of Net Position.

The change in compensated absences was as follows at June 30, 2024:
61 114
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued N. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of net position or balance sheet reports a separate section for deferred outflows of resources. This separate financial st atement element, deferred outflows of resources, represents a consumption of net assets that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the statement of net posi tion or balance sheet reports a separate section for deferred inflows of resources. This separate financ ial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

O. Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The City categorizes its fair value measurements within the fair value hierarch y established by generally accepted accounting principles. The fair value hierarchy categorizes the inputs to valuation techniques used to measure fair value into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for an asset or liability, either directly or indirectly.

Level 3 inputs are unobservable inputs for an asset or liability.

If the fair value of an asset or liability is measured using inputs from more than one level of the fair value hierarchy, the measurement is considered to be based on the lowest priority level input that is significant to the entire measurement.
62 115
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued P. Estimates and Assumptions
The preparation of financial statements in conformi ty with generally accepted accounting principles (GAAP) 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.

Q. Leases
A lease is defined as a contract that conveys control of the right to use another entity’s nonfinancial asset (the underlying asset) as specified in the contract for a period of time in an exchange or exchange- like transaction. Examples of nonfinancial assets include buildings, land, vehicles, and equipment.

Lessee – The City is a lessee for a noncancellable lease of equipment. The City recognizes a lease liability and an intangible right ‐to‐use lease asset (lease asset) in the government ‐wide financial statements. The City recognizes lease liabilities with an initial, individual value of $100,000 or more.

At the commencement of a lease, th e City initially measures the leas e liability at the present value of payments expected to be made during the lease term . Subsequently, the lease liability is reduced by the principal portion of lease payments made. The lease asset is initia lly measured as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus certain initial direct costs. Subsequently, the lease asset is amortized on a straight‐line basis over its useful life.

Key estimates and judgments related to leases include how the City determines (1) the discount rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease payments as follows:
x The City uses the interest rate charged by the less or as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for leases.
x The lease term includes the noncancellable period of the lease. x Lease payments included in the measurement of the lease liability are composed of fixed payments and purchase option price that the City is reasonably certain to exercise.

The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the lease liability.

Lease assets are reported with other assets and capital assets and lease liabilities are reported with long- term debt on the statement of net position.
63 116
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued Q. Leases, Continued
Lessor – The City is a lessor for noncancellable leases of buildings and land. The City recognizes a lease receivable and a deferred inflow of resources in the government ‐wide and governmental fund financial statements.

At the commencement of a lease, the City initially measures the lease receivable at the present value of payments expected to be received during the lease term. Subsequently, the lease receivable is reduced by the principal portion of lease payments received. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date. Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease term.

Key estimates and judgments include how the City determines (1) the discount rate it uses to discount the expected lease receipts to present value, (2) lease term, and (3) lease receipts as follows:
x The City uses its estimated incremental borrowing rate as the discount rate for leases. x The lease term includes the noncancellable period of the lease. x Lease receipts included in the measurement of the lease receivable is composed of fixed payments from the lessee
The City monitors changes in circumstances that would require a remeasurement of its lease, and will remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the lease receivable.

R. Subscription-Based Information Technology Arrangements (SBITAs) A Subscription-Based Information Technology Arrangement (SBITA) is a contract that conveys control of the right to use another party’s (a SBITA vendor’s) IT software, alone or in combination with tangible capital assets (the underlying IT assets), as specified in the contract for a period of time in an exchange or exchange-like transaction.

At the commencement of a SBITA, the City initially measures the subscription liability at the present value of payments ex pected to be made during the contract term . Subsequently, the subscription liability is reduced by the principal portion of payments made. Th e subscription asset is initially measured as the initial amount of the subscription liability, adju sted for payments made at or before the SBITA commencement date, plus certain initial direct costs. Subsequently, the subscription asset is amortized on a straight‐line basis over shorter of the subscription term or the useful life of the underlying IT assets.

Key estimates and judgments related to SBITAs include how the City determines (1) the discount rate it u s e s t o d i s c o u n t t h e e x p e c t e d s u b s c r i p t i o n p a y m e n t s t o p r e s e n t v a l u e , ( 2 ) s u b s c r i p t i o n t e r m , a n d ( 3 ) subscription payments as follows:
64 117
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued R. Subscription-Based Information Technology Arrangements (SBITAs), Continued x The City uses the interest rate charged by the IT vendor as the discount rate. When the interest rate charged by the IT vendor is not provided, an estimated incremental borrowing rate is used as the discount rate for subscription liabilities.
x The subscription term includes the noncancellable period of the subscription. x Subscription payments included in the measurement of the subscription liability are composed of fixed payments and purchase option price that the City is reasonably certain to exercise.

The City monitors changes in circumstances that would require a remeasurement of its subscription and will remeasure the subscription asset and liability if certain changes occur that are expected to significantly affect the amount of the subscription liability.

Subscription assets are reported with other capital assets and subscription liabilities are reported with long-term debt on the statement of net position.

S. Implementation of Governmental Accoun ting Standards Board (GASB) Pronouncements GASB Statement No. 100 – Accounting changes an d Error Corrections – an Amendment of GASB Statement No. 62. The primary objective of this Statement is to enhance accounting and financial reporting requirements for accounting changes and error corrections to provide more understandable, reliable, relevant, consistent, and comparable information for making decisions or assessing accountability. This Statement defines accounting ch anges as changes in accounting principles, changes in accounting estimates, and changes to or within the financial reporting entity and describes the transactions or other events that constitute those changes. As part of those descriptions, for (1) certain changes in accounting principles and (2) certain changes in accounting estimates that result from a change in measurement methodology, a new principle or method ology should be justified on the basis that it is preferable to the principle or methodology used before the change. That preferability should be based on the qualitative characteristics of financial reporting— understandability, reliability, relevance, timeliness, consistency, and comparability. This Statement also ad dresses corrections of errors in previously issued financial statements. This Statement prescribes the accounting and financial reporting for (1) each type of accounting change and (2) error corrections. This Statement requires that (a) changes in accounting principles and error corrections be reported retroactively by restating prior periods, (b) changes to or within the financial reporting entity be reported by adjusting beginning balances of the current period, and (c) changes in accounting estimates be reported prospectively by recognizing the change in the current period. The requirements of this Statement for changes in accounting principles apply to the implementation of a new pronouncement in absence of specific transition provisions in the new pronouncement. This Statement also requires t hat the aggregate amount of adjustments to and restatements of beginning net position, fund balance, or fund net position, as applicable, be displayed by reporting unit in the financial statements. The City restated its respective beginning fund balance/net position as part of implementing this standard.
65 118
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS
The City pools cash from all sources and all funds except Cash and Investments held by Trustees so that it can be invested at the maximum yield consistent wi th safety and liquidity, while individual funds can make expenditures at any time.

A. Policies
California Law requires banks and savings and loan in stitutions to pledge government securities with a market value of 110% of the City’s cash on deposit, or first trust deed mortgage notes with a market value of 150% of the deposit, as collateral for these deposi ts. Under California Law this collateral is held in a separate investment pool by another institution in th e City’s name and places the City ahead of general creditors of the institution.

The City invests in individual investments and in investment pools. Individual investments are evidenced by specific identifiable securities instruments, or by an electronic entry registering the owner in the records of the institution issuing the security, called the book entry system. In order to increase security, the City employs the Trust Department of a bank as the custodian of certain City managed investments, regardless of their form. Individual investments are generally made by their City’s fiscal agent as required under its debt issues, or through the City's Investment Advisor, Chandler Asset Management (CAM).

The City’s investments are carried at fair value, as required by generally accepted accounting principles.

The City adjusts the carrying value of its investments to reflect their fair value at each fiscal year end, and it includes the effects of these adjustments in income for that fiscal year.

B. Classification
Cash and investments are classified in the financial statements as shown below, based on whether or not their use is restricted under the terms of City debt instruments or Successor agreements. 66 119
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS
C. Investments Authorized by the Code and the City’s Investment Policy The City’s Investment Policy and the California Go vernment Code allow the City to invest in the following investments, provided the credit ratings of the issuers are acceptable to the City, and approved percentages and maturities are not exceeded. The tabl e below also identifies certain provisions of the California Government Code, or the City’s Investment Policy where the City’s Investment Policy is more restrictive.

In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Pools, investments were stated at fair value using the aggregate method.

The City is a voluntary participant in the Local Agen cy Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California.

The City’s investments with LAIF at June 30, 2022 and 2021, include a portion of the pool funds invested in Structured Notes and Asset-Backed Securities. These investments include the following:

Structured Notes – are debt securities (other than asset-backed securities) whose cash flow characteristics (coupon rate, redemption amount, or stated maturity) depend upon one or more indices and/or have embedded forwards or options.

Asset-Backed Securities – the bulk of which are mortgage-backed securities, entitle their purchasers to receive a share of the cash flows from a pool of assets such as principal and interest repayments from a pool of mortgages (such as Collateralized Mortgage Obligations) or credit card receivables.

As of June 30, 2024, the City had $41,628,224 invested in LAIF, which had invested 3.00% of the pool investment funds in Structured Notes and Asset-Backed Securities as compared to 2.78% in the previous year. The LAIF fair value factor of 0.996316042 was us ed to calculate the fair value of the investments in LAIF.
67 120
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
D. Investments Authorized by Debt Agreements
The City and Successor Agency to the Redevelopment Agency must maintain required amounts of cash and investments with trustees or fiscal agents under the terms of certain debt issues. These funds are unexpended bond proceeds or are pledged reserves to be used if the agencies fail to meet their obligations under these debt issues. The California Government Code requires these funds to be invested in accordance with City resolutions, bond indentures or State statutes. The table below identifies the investment types that are authorized for investments held by fiscal agents. The table also identifies certain provisions of these debt agreements:

E. Public Agencies Post-Employment Trust
On October 21, 2019, the City Council adopted Resolution 19-13711 approving the adoption of the Public Agencies Post-Employment Trust administered by Public Agency Retirement Services (PARS). The Trust is an irrevocable trust and qualifies as an Internal Revenue Section 115 Trust. The Trust will assist the City in mitigating the CalPERS contribution rate volatility. Investments of funds held in the Trust are governed by the Investment Guideline Document for the investment account and by the agreement for administrative services with PARS, rather than the general provisions of the California Government Code of the City’s Investment Policy. The City elected a discretionary investment approach which allows the City to maintain oversight of the investment management, control on target yield and the portfolio’s risk of tolerance, under the Moderately Conservative Index PLUS investment option. The assets in the Trust will eventually be used to fund pension plan obligations. 68 121
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
F. Fair Value Hierarchy
The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure fair value of the assets. Level 1 inputs are quoted prices in an active market for identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant unobservable inputs.

The following is a summary of the fair value hierarchy of the fair value of investments of the City as of June 30, 2024:

U.S. Treasury Obligations, Federal Agency Obligat ions, Medium–Term Corporate Notes, Asset-Backed Securities, Commercial Paper, Negotiable Certificates of Deposits and Supranational Securities classified in Level 2 of the fair value hierarchy, are valued us ing pricing techniques of matrix pricing or market corroborated pricing, with inputs such as yield curves or indices. 69 122
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
F. Fair Value Hierarchy, Continued
These prices were obtained from various pricing sources by the City’s custodian bank. The Certificates of Deposit were valued using techniques of matrix pricing and multi-dimensional relational model and/or option adjusted spread provided by the City’s custodian bank. The Supranational Securities were valued based on information gathered from market sources an d integrate relative credit information, observed movements, and sector news into the evaluated pricings applications and models provided by the City’s custodian bank.

G. Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Normally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates.

Information about the sensitivity of the fair values of the City’s investments (including investments held by bond trustees) to market interest rate fluctuations is provided by the following table that shows the distribution of the City’s investments by maturity.

Money Market Funds are available for withdrawal on demand and at June 30, 2024 matured in an average of 1 day.
70 123
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
H. Credit Risk
Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the actual rating as of June 30, 2024 for each investment type as provided by Standard and Poor’s investment rating system.

L. Concentration of Credit Risk
There are no investments in securities of individual issuers that were greater than 5% of the City’s total investments as of June 30, 2024.

J. Line of Credit
On June 3, 2022, the City issued an Irrevocable Stan dby Letter of Credit with Bank of the West with a principal sum of $500,000, with an expiration date of June 30, 2024. This credit was established for the benefit of the Housing Authority (Section 8) Special Revenue Fund for advancing the Housing Authority portability-in payments. Advances drawn on the line of credit bear an interest rate at 1% above the prime rate. The City deposited $500,000 as collateral for the Line of Credit with Bank of the West from the Successor Agency Housing Special Revenue Fund. There was no outstanding balance on the line of credit at June 30, 2024.

K. Investment in Partnership
In September 2022, the Housing Authority (Authority) entered into an agreement to purchase interests in the Gateway Mixed Use Development, a California limi ted partnership (Partnership), from two of the previous limited partners, for the sum of $50,000. The Partnership owns the Gateway Mixed-Use Project (Project), consisting of 28 affordable units and 8,106 square feet of commercial space, knows as Entrata.

The Authority wishes to eventually acquire the Project for the purpose of maintaining affordable housing. 71 124
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
K. Investment in Partnership, Continued
Upon purchase of the limited partnership interests, the Authority made a capital contribution to the Partnership in the amount of $675,225 for the purpose of paying off the existing bond loan on the Project.

As part of the overall agreement the administrative and management general partners have granted the Authority the option to acquire their interests in the Partnership at any time starting on January 1, 2026 for $100 each. The Authority’s intent will be to exercise these options, and will then own the Project.

3. LOANS AND NOTES RECEIVABLES
As of June 30, 2024, loans and notes receivable consisted of the following:

A. CalHome Program Loans
CalHome Program funds of $600,000 were awarded by the State of California and are used to provide first-time home buyer mortgage assistance as well as housing rehabilitation assistance for low income homeowners. Loans are payable upon sale or transfer of property, when the property ceases to be owner- occupied, or upon the CalHome loan maturity date. The outstanding balance as of June 30, 2024 was $359,827.
72 125
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

3. LOANS AND NOTES RECEIVABLES, Continued
B. Century Plaza Corporation Loan
During fiscal year 2013-14, the City of Pittsburg approved a loan to Century Plaza Corporation for anchor tenant retention and remodeling of the Century Plaza. The total approved loan amount was $1,300,000 and was disbursed over five years. Loan bears 2.0%% annual interest and is due and payable on July 1, 2023. Century Plaza Corporation received a loan repayment credit effective July 1, 2019 due to following the terms stipulated by the loan agreement. The accr ued interest will be forgiven along with the loan credit. This was fully paid off during the current year.

C. Domus Development LLC Loan
During fiscal year 2005-2006, the former Redevelopment Agency entered into a Development and Disposition Agreement with Domus Development LLC (Developer) of up to $8,000,000 for the development of a 28-unit residential rental dwelling and an 8,000 square feet ground floor commercial space at the northeast corner of Railroad Avenue and 10th Street. Funding was provided by the Housing- Set Aside funds in the amount of $6,000,000 and $2,000 ,000 by future tax increments. During the fiscal year 2007-2008, an amendment was filed to increase the loan up to an additional $800,000 and $4,845,755 of the loan was disbursed to the Developer. With the dissolution of the Agency effective February 1, 2012, this loan was assumed by the Housing Successor Agen cy. The outstanding balance as of June 30, 2024 was $6,888,478.

D. Domus Development LLC (Sienna Court) Loan
During fiscal year 2007-2008, the former Redeve lopment Agency Low-Modera te Income Housing II Special Revenue Fund loaned funds of $250,000 to Domus Development LLC for the feasibility study of a senior affordable housing development (Sienna Court). The loan bears interest of 3.0% per annum. The Domus Development LLC loan was amended in fiscal year 2010-2011 to increase the loan by an additional $850,000, and then further amended in fiscal year 2010-2011 bringing total loan funding to $4,323,645.

With the dissolution of the Agency effective Februa ry 1, 2012, this loan was assumed by the Housing Successor. The outstanding balance as of June 30, 2024 was $6,000,221.

E. HUD Community Development Block Grant (CDBG) Loans
The HUD CDBG Special Revenue fund had a loans receivable balance of $235,800 as of June 30, 2024, which consisted of $88,769 in CDBG entitlement loans and $147,031 in First Time Homebuyer loans.

F. Low Income Families Loans
During fiscal year 2006-2007 and 2007-2008, the fo rmer Redevelopment Agency Low-Moderate Income Housing II Special Revenue Fund loaned funds to low income families to purchase homes. The loans bear no interest and are deferred until the property changes title or are refinanced for cash. With the dissolution of the Agency effective February 1, 2012, this loan was assumed by the Housing Successor Agency. The outstanding balance as of June 30, 2024 was $744,720.
73 126
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

3. LOANS AND NOTES RECEIVABLES, Continued
G. Mariner Walk Loan and Vista Del Mar Loans
During fiscal year 2005-2006, a Development and Disposition Agreement was entered into with Olson Urban Housing LLC (Developer) of up to $1,000,000 and with Lyon Vista Del Mar 533, LLC (Developer) of up to $800,000, to provide mortgage assistance for qualified moderate income households purchasing the affordable units. With the dissolution of the Agency effective February 1, 2012, the loans were assumed by the Housing Successor. The outstanding balances as of June 30, 2024 were $180,000 and $200,000, respectively, for the property owners.

H. Mercy Housing California Loan
During fiscal year 2005-2006, the former Redeve lopment Agency Low-Modera te Income Housing II Special Revenue Fund loaned funds of $1,052,854 to Mercy Housing California for the development of a 64-unit dwelling and child care center located within the Redevelopment Project Area. During the fiscal year 2007-2008, an amendment was filed to increase the loan for a total of $4,952,854. The loan bears interest of 1.0% per year and provides for the Agency to receive 50.0% of the project’s residual receipts annually. With the dissolution of the Agency effectiv e February 1, 2012, this loan was assumed by the Housing Successor Agency. The outstanding balance as of June 30, 2024 was $4,799,337.

I. Pittsburg Arts and Community Foundation (PACF) Loans During fiscal year 2010-2011, the PACF assumed a construction loan and lease due from a Pittsburg resident. The loan will be repaid through lease payments on 159 4th Street, with a balloon payment due on December 1, 2023. During fiscal year 2011-2012, PACF assumed an NSP Home Buyer assistance program loan that was issued to a Pittsburg resident. Loan payments are deferred and will be forgiven if the property remains the same as the principal residence of the resident. The outstanding balances of these loans as of June 30, 2024 was $4,020.

J. Presidio Village Senior Housing Loans
During fiscal year 2006-2007, the former Redeve lopment Agency Low-Modera te Income Housing II Special Revenue Fund loaned funds of $566,150 to Pa cific Community Services for prior construction of 104 units called the Presidio Village Senior Housing. The loan bears interest of 3.0% per year and provides for the Agency to receive 50.0% of the project’s residual receipts annually. With the dissolution of the Agency effective February 1, 2012, this loan was assumed by the Housing Successor Agency. The outstanding balance and accrued interest as of June 30, 2024 was $820,611.

K. Rehabilitation and Construction Loans
Housing and rehabilitation loans are provided to homeowners who meet low and moderate income requirements as defined by the Department of Housing and Urban Development. These residential loans are available from $5,000 to $25,000 per property at a loan term of 3.0% simple interest for 10 years. The property will be rehabilitated to be free from health and safety violations upon completion of the rehabilitation program. The outstanding balance of these loan types as of June 30, 2024 was $1,161,040. 74 127
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

3. LOANS AND NOTES RECEIVABLES, Continued
L. Residential Loans on Vidrio
During fiscal year 2010-2011, the City of Pittsburg financed several residential loans to the homebuyers of Vidrio Condominium. The outstanding balances as of June 30, 2024 was $869,698.

M. Resources for Community Development Loan
During fiscal year 2006-2007, the former Redeve lopment Agency Low-Modera te Income Housing II Special Revenue Fund loaned funds of $6,105,848 to Resources for Community Development for the development of 71 rental dwellings and a community center. During the fiscal year 2008-2009, an amendment was filed to increase the loan up to an additional $350,000 and $5,710,730 of the loan was disbursed to the Developer. The loan bears interest of 1.0% per annum and provides for the Agency to receive 50% of the project’s residual receipts annu ally. With the dissolution of the Agency effective February 1, 2012, this loan was assumed by the Ho using Successor Agency. The outstanding balance as of June 30, 2024 was $7,228,283.

N. Veterans Square Loan
During fiscal year 2020-2021, the Housing Authorit y of the City of Pittsburg loaned $780,000 to the Veterans Square for the purchase of property locate d at 901 Los Medanos Street. The loan terms include

3.0% simple interest and is due in 55 years. The repayment will be made from residual receipts. The outstanding balance as of June 30, 2024 was $864,294.

O. 9th Street Associates (Santa Fe Commons Housing Development Loan) This is a rehabilitation and construction loan to eliminate blight to a property owner to assist improvements and rehabilitation of properties that were vacant or underutilized.

During fiscal year 2011-2012, the City provided a prop erty development loan of $1,614,713 to 9th Street Associates LP to develop the units at Santa Fe Commons. The loan terms include 3.0% simple interest and is due in 55 years. The repayment will be made from residual receipts. The outstanding balance as of June 30, 2024was $2,139,472.

P. Stay Cal Loan
During fiscal year 2022-2023, the City entered a Purchase & Sale Agreement (“PSA”) with Stay Cal Pittsburg, LLC, (Stay Cal) for a loan covering the purchase price for the real property located adjacent to the intersection of Railroad Avenue and Center Drive, which encompasses approximately 111,874 square feet to build a Courtyard by Marriott Hotel on the pr operty in the amount of up to $4,300,000. The loan terms include a growing simple interest rate starting at 3.00% and maximizing at 6.00% to be paid over the course of 30 years from the closing date or the sale or transfer of the property by Stay Cal, but no later than March 1, 2053. Repayment will be made by collection of Transient Occupancy Taxes collected by the Courtyard by Marriott, or equivalent hotel constructed upon the site. Additionally, the City agreed to defer certain development fees in an amount no greater than $463,000 to be repaid by Stay Cal commencing the date that the developer begins to collect transient occupancy tax from the hotel pursuant 75 128
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

3. LOANS AND NOTES RECEIVABLES, Continued
P. Stay Cal Loan, Continued
to a fee deferral agreement. The agreement requires that StayCal collect a total of 12% transient occupancy tax and remit the full amount monthly to the City. Of the 12% total, 2% shall be applied to the Deferred Amount owed until fully paid. No interest shall be charged on the deferred amount. The outstanding balance as of June 30, 2024 was $4,461,415.

4. LEASES AND SUBSCRIPTIONS
A. Leases Receivable
The City from time to time engages in lease arrangements allowing the right for others to use various owned land and buildings for the public benefit. The borrowing rate for the leases are implicit in the lease agreements, and therefore, the City has applied the incremental borrowing rate of the City for all leases.

As of June 30, 2024, the City’s leases receivable and related deferred inflows of resources consisted of the following:
76 129
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

4. LEASES AND SUBSCRIPTIONS, Continued
A. Leases Receivable, Continued
Governmental Activities
On May 20, 2013, the City entered into a 13 year lease as lessor for the use of Lincoln Child Center. As of June 30, 2024, the value of the lease receivable was $208,039. The lessee is required to make monthly payments of $10,446 increasing by 3% every January 1. The lease has an interest rate of 3.7%. The City has offset the lease receivable with a deferred inflow of resources. As of June 30, 2024, the deferred inflow of resources was $193,643. The City recognized lease revenue of $116,380 during fiscal year 2024 under the lease.

On December 20, 2021, the City entered into an 8 year lease as lessor for the use of property owned by the City to DVWB, LLC, including an option to extend the lease an additional 5 years. As of June 30, 2024, the value of the lease receivable was $105,255. The lessee is required to make monthly payments ranging from $1,782 - $1,835. The lease has an interest rate of 3. 7%. The City has offset the lease receivable with a deferred inflow of resources. As of July 2024, the deferred inflow of resources was $79,022. The City recognized lease revenue of $14,160 during fiscal year 2024 under the lease.

Business-Type Activities
On July 1, 2014, the City entered into a 49 year lease as lessor for the use of land currently developed with two docks with the Dow Chemical Company. As of Ju ne 30, 2024, the value of the lease receivable is $14,298,121. The lessee is required to make annual fi xed payments starting with $320,905, increasing by 3% every July 1. The lease has an interest rate of 3.7%. The City has offset the lease receivable with a deferred inflow of resources. As of June 30, 2024, the deferred inflow of resources was $13,438,018. The City recognized lease revenue of $344,565 during fiscal year 2024 under the lease.

On November 12, 2010, the City entered into a 40 year lease as lessor for the use of land with Trans Bay Cable, LLC. As of June 30, 2024, the value of the lease receivable was $3,835,531. The lessee is required to make monthly fixed payments of $18,978. The lease has an interest rate of 3.7%. The City has offset the lease receivable with a deferred inflow of resources. As of June 30, 2024, the deferred inflow of resources was $3,669,293. The City recognized lease revenue of $139,032 during fiscal year 2024 under the lease.

On November 18, 2006, the City entered into a 25 year lease as lessor for the use of land with USS- Posco Industries. As of June 30, 2024, the value of the leas e receivable was $1,946,413. The lessee is required to make annual fixed payments in the range of $305,229-$320,705. The lease has an interest rate of 3.7%. The City has offset the lease receivable with a deferred in flow of resources. As of June 30, 2024, the deferred inflow of resources was $2,130,554. The City recognized lease revenue of $288,671 during fiscal year 2024 under the lease.
77 130
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

4. LEASES AND SUBSCRIPTIONS, Continued
A. Leases Receivable, Continued
Business-Type Activities, Continued
On May 1, 2018, the City entered into a 50 year lease as lessor for the use of marina property with Vee Jay Enterprises. There are options for the lessee to extend the lease up to an additional 15 years. As of June 30, 2024, the value of the lease receivable was $609,7 14. The lessee is required to make monthly fixed payments of $1,534. The lease has an interest rate of 3.7%. The City has offset the lease receivable with a deferred inflow of resources. As of June 30, 2024, the deferred inflow of resources was $561,4593. The City recognized lease revenue of $12,812 during fiscal year 2024 under the lease.

On December 2, 1996, the City entered into a 30 year lease as lessor for the use of marina property with Isle Capital Corporation. As of June 30, 2024, the valu e of the lease receivable is $265,948. The lessee is required to make annual payments ranging from $132,142 to $140,399 over the life of the lease. The lease has an interest rate of 3.7%. The City has offset the lease receivable with a deferred inflow of resources.

As of June 30, 2024, the deferred inflow of resource s was $344,463. The City recognized lease revenue of $142,373 during fiscal year 2024 under the lease.

5. UNEARNED AND UNAVAILABLE REVENUE
A. Government-Wide Financial Statements
Unearned revenues in Government-Wide Financial Statements represent amounts for which revenues have not been earned. At June 30, 2024, total unearned and unavailable revenues in the Government- Wide Financial Statements consisted of unearned deve loper, donation, interest receivable on loans and grant revenues of $14,264,860 in Governmental Activities and $2,240,592 in Business-Type Activities.

B. Fund Financial Statements
At June 30, 2024, the following amounts were recorded in the Fund Financial Statements because either the revenues had not been earned (unearned revenues) or the funds were not available to finance expenditures of the current period (unavailable revenues):
78 131
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

5. UNEARNED AND UNAVAILABLE REVENUE, Continued
B. Fund Financial Statements, Continued

6. INTERFUND TRANSACTIONS
A. Current Interfund Balances
Current interfund balances arise in the normal course of business and are expected to be repaid shortly after the end of the fiscal year. Current interfund balances are as follows:

Water
Pittsburg Front
Power Operations Total
Unearned developer/
donation revenue 1,129,083$ -$ 1,129,083$ Unearned service revenue 470,380 641,129 1,111,509 Total 1,599,463$ 641,129$ 2,240,592$
Business-Type Funds
79 132
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

6. INTERFUND TRANSACTIONS, Continued
B. Interfund Advances
At June 30, 2024, the following funds had advances that were not expected to be repaid within the next year:

During fiscal year 2019-2020, the Successor Agency Housing Special Revenue Fund advanced $1,593,421 to the General Fund for the purchase of property located on Railroad Avenue (APN 088-171- 035). The advance will accrue LAIF interest and will cont inue to exist until repaid in full. The balance as of June 30, 2024 was $1,233,134.

During fiscal year 2020-2021, the Southwest Pittsb urg GHAD II Fund advanced $300,000 to the General Fund for the purchase of software and related expens es. The advance will accrue LAIF interest rate and will continue to exist until repaid in full. This ad vance was later amended to increase the loan amount from $300,000 to $350,000 23-082 to fund implementation of the software. During the current year the Southwest Pittsburg GHAD II further advanced $ 1,756,462 to General Fund for furthering the economic development within the City. The combined balance as of June 30, 2024 was $2,026,136.

During fiscal year 2020-2021, the Inclusionary Housing Capital Projects Fund advanced $380,000 to the Successor Agency Housing Special Revenue Fund for a loan to purchase a property located on 901 Los Medanos Street. The advance will accrue interest at a rate of three percent on the unpaid principal outstanding from time to time commencing on the da te of initial disbursement of loan proceeds. The balance as of June 30, 2024 was $380,000.
80 133
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

6. INTERFUND TRANSACTIONS, Continued
B. Interfund Advances, Continued
During fiscal year 2014-2015, the Regional Traffic Mitigation Capital Projects Fund advanced $3,300,000 to the Railroad Avenue Specific Area Plan Special Revenue Fund to help fund the construction of the eBART Pittsburg Center Station Project. The advance is to be repaid to the Regional Traffic Mitigation Fund by June 30, 2044 and bears simple interest at the average State Local Agency Investment Fund (LAIF) interest rate. The repayment began in fiscal year 2015 with annual payments in amount up to the accrued interest due, and the balance as of June 30, 2024 was $3,297,009.

During fiscal year 2016-2017, the Sewer Utility Enterprise Fund advanced $252,960 to the Building Maintenance Internal Service Fund to assist in financing the City Hall HVAC Chiller Replacement project.

The advance is to be repaid within ten years and bear s interest at 1.5% per year. The balance as of June 30, 2024 was $53,670.

During fiscal year 2002-2003, the Pittsburg Power Enterprise Fund advanced $375,000 to the Golf Course Special Revenue Fund for the replacement and improvements of golf carts. The advance was to be repaid within ten years provided the money is available in the Golf Fund. City Council approved the refinancing of the Pittsburg Power loan in fiscal year 2022-2023, outlining a new 35-year term at 2.5% to save the City $91,797 that would have otherwise been paid in interest during the original 10- year term. The balance as of June 30, 2024 was $375,000.

C. Interfund Transfers
At June 30, 2024, the City had the following inter-fund transfers:

A. Transfers to the General Fund were to fund General Fund operations and administrative services for which the other funds received services.

B. Transfers to Housing to cover operating expenses for the rental properties.

C. Transfers to non-major funds consists of the following:
¾ $11,859,953 from general fund for city lighting & landscaping, Gas Tax (RMRA) and city road support.
¾ $10,799,326 from ARPA for various Redevelopment Agency (RDA) projects. ¾ $9,355,437 for city park restroom, ERP project, fields and police support.

D. Transfers to the Miscellaneous Grants Special revenue fund E. Transfers to the Water Utility Enterprise Fund to subsidize senior discount and capital improvements.

F. Transfer to Water Utility Enterprise Fund to contri bute share of Utility Billing Administrative staff.

G. Transfers to the Pittsburg Power Enterprise Fund.

H. For general benefit of Oak Hills Lighting and Landscaping.

I. Transfer for Marina dredging project support.

J. Transfer for Marina dredging project support.

K. Transfer to help with capital improvements for the Water Front Operations.

L. Transfers to support unfunded OPEB liability as well as to support I.T., Fleet & Building Maintenance. 81 134
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

6. INTERFUND TRANSACTIONS, Continued
C. Interfund Transfers
82 135
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

7. CAPITAL ASSETS
A. Government-Wide Financial Statements
At June 30, 2024, the City’s capital assets consisted of the following:
83 136
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

7. CAPITAL ASSETS, Continued
A. Government-Wide Financial Statements, Continued
The following is a summary of capital assets for governmental activities:

During fiscal year 2023, the City implemented the provisions of GASB Statement No. 96 Subscription Based Information Technology Arrangements, whic h required the restatement of capital assets, specifically to incorporate an intangible right-to-use subscription asset. As a result, an initial right-to-use subscription asset was recorded in the amount of $241,418 as of July 1, 2022 for governmental activities.

Details of this is discussed in Note 8.
84 137
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

7. CAPITAL ASSETS, Continued
A. Government-Wide Financial Statements, Continued
Governmental activities depreciation and amortization expenses for capital assets for the year ended June 30, 2024 are as follows:

The following is a summary of capital assets for business-type activities:
85 138
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

7. CAPITAL ASSETS, Continued
A. Government-Wide Financial Statements, Continued
Business-type activities depreciation and amortization expenses for capital assets for the year ended June 30, 2024 are as follows:

B. Fund Financial Statements
The Governmental Fund Financial Statements do not present General Government Capital Assets.

Consequently, capital assets are shown as a reconcilin g item in the Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position.

The capital assets of the enterprise funds in the Proprietary Fund Financial Statements are the same as those shown in the business-type activities of the Government-Wide Financial Statements. Internal Service Funds capital assets are combined with governmental activities.

8. LONG TERM DEBT
Governmental Activities
The following is a summary of long-term debt transact ions of the governmental activities for the year ended June 30, 2024
86 139
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

8. LONG TERM DEBT, Continued
Series 2006 Pension Obligation Bonds
On June 15, 2006, the City issued $39,566,056 of Series 2006 Taxable Pension Obligations Bonds bearing interest at 5.850-6.115% to prepay the City’s unfunded accrued actuarial liability of the Miscellaneous and Safety plans through the California Public Employees’ Retirement System. The City also prepaid the unfunded liability owed to Contra Costa County Employees Retirement Association (CCCERA) which amounted to $12,700,000 as of June 30, 2006. The Bonds are issued as current interest bonds and capital interest bonds where the current interest is payable annually on July 1, and the capital appreciation bonds will accrete interest from the date of issuance and will be payable only upon maturity or redemption. The bonds are payable from any form of taxation. The bond covenant contains events of default that require the revenue of the City to be applied by the Trustee as specified in the terms of the agreement if any of the following conditions occur: default on debt serv ice payments; the failure of the City to observe or perform the conditions, covenants, or agreement terms of the debt; bankruptcy filing by the City; or if any court or competent jurisdiction shall assume custody or control of the City. The covenant also contains a subjective acceleration clause that allows the trustees or holders, who hold the majority of the aggregate principal amount of the notes, to accelerate paym ent of the entire principal amount outstanding and interest accrued to become immediately due if they determine that a material adverse change occurs.

Annual principal and interest payments on the bonds are expected to require approximately 5.0% of city- wide revenues. At June 30, 2024, the total principal and interest remaining to be paid on the bonds was $48,213,395. For the current year, principal and interest paid were $3,991,776 and City-wide governmental revenues were $121,125,703.

The Bonds unaccreted discount and the current ye ar accretion totaled $7,696,343 and $1,515,205, respectively, at June 30, 2024. The Bonds do not pay periodic interest. Interest on the Bonds will accrete in value at the rates between 5.85% and 6.12%. Repayment of the accreted principal commenced July 1, 2015. Final repayment will be July 1, 2036.

The annual debt service requirements to mature the Series 2006 Pension Obligation Bonds outstanding at June 30, 2024, were as follows:
87 140
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

8. LONG TERM DEBT, Continued
Governmental Activities (Direct Borrowings)
On April 5, 2018, the City obtained a ten-year, interest free (0%), no fee loan from Pacific Gas and Electric (PG&E) in the amount of $213,294, to partially fund the cost of replacing the City Hall Chiller with an energy-efficient system. The loan is repayable from general funds. Principal payments are paid monthly with on-bill PG&E payments, commencing May 2018. As of June 30, 2024, the outstanding principal balance on the loan was $81,769.

The annual debt service requirements to mature the lease outstanding at June 30, 2024, are as follows:

On November 15, 2018, the City entered into a five -year lease agreement for a total principal cost of $549,017 with Holman Capital Corporation to finance the purchase of three vehicles and a street sweeper for the Fleet Maintenance Department. The interest rate on the lease is 3.80% and principal and interest payments are due semi-annually, commencing May 15, 2019, and maturing on November 15, 2023. As of June 30, 2024, the outstanding principal balance of the lease has been fully paid off during the current year.

On April 24, 2019, the City entered into a five-year le ase agreement for a total principal cost of $261,368 with Holman Capital Corporation for various equipmen t. The interest rate on the lease is 3.80% and principal and interest payments are due semi-annually, commencing October 24, 2019, maturing on April 24, 2024. As of June 30, 2024, the outstanding principal balance of the lease has been fully paid off during the current year.

On October 21, 2019, the City entered into a five-year lease agreement for a total principal cost of $848,058 with Holman Capital Corporation for various vehicles and equipment. The interest rate on the lease is

3.70% and principal and interest payments are due semi-annually, commencing April 21, 2020, maturing on October 21, 2024. As of June 30, 2024, the outstanding principal balance of the lease was $91,970.

The annual debt service requirements to mature the lease outstanding at June 30, 2024, are as follows:
88 141
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

8. LONG TERM DEBT, Continued
Leases for Governmental Activities (Direct Borrowings)
The City from to time to time engages in lease arrangements for the right to use various third-party owned land and buildings for the public benefit.

On March 1, 2006, the City entered into a 20 year lease as lessee for the use of a building. An initial lease liability was recorded in the amount of $679,630. As of June 30, 2024, the value of the lease liability is $371,792. The City is required to make monthly fixed payments of $10,133. The lease has an interest rate of 3.7%. As part of the lease, the City has recorded an intangible right to use asset and accumulated amortization. As of June 30, 2024, City has recorded an intangible right to use lease asset amounting to $679,630, with accumulated amortization of $299,036. As of June 30, 2024, the outstanding principal balance of the lease was $371,792.

On February 1, 2020, the City entered into a 7 year lease as lessee for the use of the PACF Art Centre, with an option to extend the lease for 5 additional years. An initial lease liability was recorded in the amount of $213,004. As of June 30, 2024, the lease liability was $113,411. The City is required to make monthly fixed payments of $2,000 through January 2022, wi th payments increasing between $3,500 - $3,605 thereafter. The lease has an interest rate of 3.7%. As pa rt of the lease, the City has recorded an intangible right to use asset and accumulated amortization. As of June 30, 2024, City has recorded an intangible right to use lease asset amounting to $213,004, with accumulated amortization of $93,721. As of June 30, 2024, the outstanding principal balance of the lease was $113,411.

On February 19, 2008, the City entered into a 15 year lease as lessee for the use of property known as Palermo, with two extension options totaling an additional 10 years. An initial lease liability was recorded in the amount of $545,743. As of June 30, 2024, the lease liability was $433,427. The City is required to make monthly fixed payments of $4,337. The lease has an interest rate of 3.7%. As part of the lease, the City has recorded an intangible right to use asset and accumulated amortization. As of June 30, 2024, the City has recorded an intangible right to use le ase asset amounting to $545,743, with accumulated amortization of $240,126. As of June 30, 2024, the outstanding principal balance of the lease was $433,427.

The lease liabilities are offset with intangible right-to-use lease assets as discussed in Note 7.

The future principal and interest lease payments as of June 30, 2024 were as follows:
89 142
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

8. LONG TERM DEBT, Continued
Subscription-Based Information Technology Liability
During fiscal year 2023, the City implemented the provisions of GASB Statement No. 96, Subscription- Based Information Technology Arrangements, which required the restatement of capital assets, specifically to incorporate an intangible right-to-use subscription asset, and subscription liability. As a result, an initial subscription liability was recorded in the amount of $180,118 as of July 1, 2022 for governmental activities. The subscription liability is offset with subscription assets as discussed in Note

7. Implementation costs and prepayments made on subscriptions in the amount of $61,300 were not included in the measurement of the liability as of July 1, 2022, and were included in the measurement of the subscription assets in accordance with GASB.

On November 23, 2021, the City entered into a subscription agreement with Yardi Systems, Inc. for a subscription with a 5 year term. The City is required to make yearly subscription payments of $46,978. throughout the life of the subscription, which ends on December 31, 2026. Interest is implicit in the subscription agreement in the amount of 3.7%. An initial subscription liability was recorded in the amount of $180,118. As of June 30, 2024, the subscription liability was $134,756. As of June 30, 2024, the City has recorded an intangible right to use subscription asset amounting to $241,418, and accumulated amortization of $109,874. As of June 30, 2024, the outstanding principal balance of the lease was $90,843.

The future subscription and interest subscription payments as of June 30, 2024 are as follows:
90 143
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

8. LONG TERM DEBT, Continued
Business-Type Activities
The following is a summary of long-term debt transactions of the business-type activities for the year ended June 30, 2024:
2016 Water Revenue Refunding Bonds
On November 15, 2016, the City issued 2016A Wa ter Revenue Refunding Bonds in the amount of $30,070,000 Series 2016A Tax Exempt and $780,000 Series 2016-Taxable Bonds for a combined total of $30,850,000. The proceeds from the Bonds were used to retire the 2008 Water Refunding Bond and to pay a Swap Termination Fee. The Tax-Exempt Bonds bear interest ranging from 2.0%-5.0% and the Taxable bonds bear interest of 0.87%. Interest on Tax-Exempt bonds is payable semi-annually each February 1st and August 1st. The Tax-Exempt bonds will mature on August 1, 2034.

The bond covenant contains events of default that require the revenue of the City to be applied by the Trustee as specified in the terms of the agreement if any of the following conditions occur: default on debt service payments; the failure of the City to observe or perform the conditions, covenants, or agreement terms of the debt; bankrupt cy filing by the City; or if any court or competent jurisdiction shall assume custody or control of the City. The covenant also contains a subjective acceleration clause that allows the trustees or holders, who hold the majority of the ag gregate principal amount of the notes, to accelerate payment of the entire principal amount outstanding and interest accrued to become immediately due if they determine that a material adverse change occurs.

The annual debt service requirements to mature the loan outstanding at June 30, 2024, were as follows:
91 144
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

8. LONG TERM DEBT, Continued
2014 California Infrastructure and Economic Deve lopment Bank Installment Sale Agreement (Direct Loan)
On November 17, 2014, the City of Pittsburg entered into an installment sale agreement (agreement) with the California Infrastructure and Economic Development Bank for financing the costs of modifications to the Pittsburg Water Treatment Plant and installation of approximately 9,100 feet of transmission line and other related costs. The principal amount provided under the agreement is $11,387,398 payable over a term of 30 years. Principal payments are made annually on August 1, commencing August 1, 2015 through August 1, 2044. The installment sales payments bear an interest rate of 3.51% per annum with interest payments made semi-annually on February 1 and August 1, commencing February 1, 2015 through August 1, 2044. The installments are payable from Water Charge Revenues. During fiscal year ended June 30, 2024, principal and interest paid was $614,652 and water charge revenues were $26,308,949.

The agreement contains events of default that require the revenue of the City to be applied by the Bank as specified in the terms of the agreement if any of the following conditions occur: default on debt service payments; the failure of the City to observe or perform the conditions, covenants, or agreement terms of the loan; bankruptcy filing by the City; or if any co urt or competent jurisdiction shall assume custody or control of the City. The covenant also contains a subj ective acceleration clause that allows the Bank to accelerate payment of the entire principal amount outstanding and interest accrued to become immediately due if they determine that a material adverse change occurs.

The annual debt service requirements to mature the outstanding balance at June 30, 2024, were as follows:
92 145
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

8. LONG TERM DEBT, Continued
2022A Water Revenue Bonds
On May 1, 2022, the City issued Series 2022A Water Revenue Bonds in the amount of $43,870,000. The proceeds from the Bonds were used to finance certain capital improvements to the City’s municipal water system and to pay costs incurred in connection with the issuance of the Bonds. The Tax-Exempt Bonds bear interest in the amount of 5%. Interest is payable semi-annually each February 1 and August 1, commencing August 1, 2022. Principal payments are payable on August 1, commencing August 1, 2034.

The installments are payable solely from Net Water Revenues. The City is subject to certain revenue bond covenants, the most restrictive which requires annual net revenues be equal to at least 125% of the current annual debt service requirements of the Bonds. For the current year, the City was not required to make principal and interest payments.

The annual debt service requirements to mature the outstanding balance at June 30, 2024, were as follows:

Debt Management Policy
The City has adopted a comprehensive debt mana gement policy that guides the issuance and management of City debt. The policy includes establishing the legal debt limits (per State law this equates to 15% of assessed value of all real and personal prop erty of the City), identifying the types of debt that can be issued and purposes for which debt proceeds can be used, establishing financial limits affecting debt issuance, and identifying guidelines regarding the structuring of debt. At the end of fiscal year 2024, the City had total debt outstanding of $107 million, which complies with, and is significantly under, the current policy limits.
93 146
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

9. SPECIAL ASSESSMENT DISTRICT DEBT WITHOUT CITY COMMITMENT The City has sponsored special assessment debt issues under which it has no legal or moral liability with respect to repayment of the debt and therefore does not include this debt in the City’s Governmental Activities. The activity for those issues for the year ended June 30, 2024, was as follows:
2001-03 Century Plaza Assessment District Bonds – The Century Plaza Bonds bear interest rates between

2.40% and 5.88% with interest payments made semi-annually on March 2 and September 2. The Century Plaza Bonds are to be paid from annual assessment installments. Proceeds from the Century Plaza Bonds were used to finance the construction and acquisitio n of certain public improvements within the City’s Assessment District No. 2001-03. The outstanding balance at June 30, 2024 amounted to $2,140,000. 2011 Pittsburg Infrastructure Financing Authority Bonds – In August 2011, the City refinanced the 1998 Marina Walk Assessment District Bonds, 1998 Pittsburg Infrastructure Financing Authority Bonds, 2001- 01 San Marco Assessment District Bonds and 2001-02 Oak Hills South Assessment District Bonds. These Districts were consolidated into one Reassessment District No. 2011-1. The true interest cost of the refunded bonds is 4.5%. On July 1, 2022, the City refunded the bonds with the issuance of the 2022 Limited Obligation Refunding Improvement Bonds.
2015 Vista Del Mar Assessment District Special Tax Refunding Bonds – In June 2015, the City refunded and defeased the 2005 Vista Del Mar Assessment Di strict Bonds. The 2015 Vista Del Mar Bonds bear interest rates between 2.0% and 5.0% with interest payments made semi-annually on March 1 and September 1. The Vista Del Mar Bonds are to be paid from special taxes which are levied by the City on taxable real property within the boundaries of the District. The outstanding balance at June 30, 2024 amounted to $6,655,000.
2022 Limited Obligation Refunding Improvement Bonds – In July 2022, the City refinanced the 2011 Pittsburg Infrastructure Financing Authority Bonds. The true interest cost of the refunded bonds is 3.39%.

For the current fiscal year, the City was not required to make any principal or interest payments. The outstanding balance at June 30, 2024 amounted to $3,16,498.

Beginning Ending
Balance Balance
Description July 1, 2023 Additions Retirements June 30, 2024 2001-03 Century Plaza A.D. Bonds 2,315,000$ -$ 175,000$ 2,140,000$ 2015 Vista Del Mar A.D. Refunding Bonds 7,080,000 - 425,000 6,655,000 2022 Limited Obligation Refunding Improvements Bonds 3,681,484 - 516,886 3,164,598 Total 13,076,484 $ -$ 1,116,886$ 11,959,598$ 94 147
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. NET POSITION AND FUND BALANCES
Net Position is measured on the full accrual basis while Fund Balance is measured on the modified accrual basis.

A. Net Position
Net Position is the excess of all the City’s assets and deferred outflows of resources over all its liabilities and deferred inflows of resources, regardless of fund. Net Position is divided into three captions. These captions apply only to Net Position, which is dete rmined only at the Government-wide level, and are described below:

In the Government-Wide Financial Statements, net positions are classified in the following categories.

Net Investment in Capital Assets, describes the portion of Net Position which is represented by the current net book value of the City’s capital assets, less the outstanding balance of any debt issued to finance these assets.

Restricted describes the portion of Net Position which is restricted as to use by the terms and conditions of agreements with outside parties, governmental regulations, laws, or other restrictions which the City cannot unilaterally alter. These principally include de veloper fees received for use on capital projects, debt service requirements, and redevelopment funds restricted to low and moderate income purposes.

Unrestricted describes the portion of Net Position which is not restricted to use.

B. Fund Balances
Governmental fund balances represent the net current assets of each fund. Net current assets generally represent a fund’s cash and receivables, less its liabilities.

The City’s fund balances are classified in accordance with Governmental Accounting Standards Board Statement Number 54 (GASB 54), Fund Balance Repo rting and Governmental Fund Type Definitions, which requires the City to classify its fund balances based on spending constraints imposed on the use of resources. For programs with multiple funding sources, the City prioritizes and expends funds in the following order: Restricted, Committed, Assigned, and Unassigned. Each category in the following hierarchy is ranked according to the degree of spending constraint:

Nonspendables represents balances set aside to indicate items do not represent available, spendable resources even though they are a component of assets. Fund balances required to be maintained intact, such as Permanent Funds, and assets not expected to be converted to cash, such as prepaids, notes receivable, and land held for redevelopment are included. However, if proceeds realized from the sale or collection of nonspendable assets are restricted, committed or assigned, then Nonspendable amounts are required to be presented as a component of the applicable category. 95 148
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. NET POSITION AND FUND BALANCES, Continued
Restricted fund balances have external restrictions impo sed by creditors, grantors, contributors, laws, regulations, or enabling legislation which requires the resources to be used only for a specific purpose.

Committed fund balances have constraints imposed by formal action of the City Council through City Resolution, which may be altered only by formal acti on (Resolution) of the City Council. Nonspendable amounts subject to council commitments are included along with spendable resources.

Assigned fund balances are amounts constrained by the City’s intent to be used for a specific purpose, but are neither restricted nor committed. Intent is expressed through City Resolution, Ordinance, or through language in the adopted budget, by the City Council or its designee (City Manager for items from $75,000 to $150,000 and Senior Executive Team members fo r items below $75,000) and may be changed at the discretion of the City Council or its designee.

Unassigned fund balance represents residual amounts that have not been restricted, committed, or assigned. This includes the residual general fund ba lance and residual fund deficits, if any, of other governmental funds.

To comply with GASB 54 requirements, the Budget Stabilization, Economic Development and California Theatre activities are consolidated within the Genera l Fund. The following table provides details of the General Fund’s fund balance at June 30, 2024:

Budget Stabilization Arrangement
City Council adopted a Resolution establishing a Bu dget Stabilization Fund for the City’s General Fund and requires the City to deposit year-end surpluses in to it. The funds can only be used to help balance future budgets. As of June 30, 2024, the Budget Stab ilization, which is reported within the unassigned fund balance of the General Fund, had a balance of $2,445,285. 96 149
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. FUND BALANCE AND NET POSITION, Continued
Detailed classifications of the City’s Fund Balances, as of June 30, 2024, are listed below:

Housing Successor Other Total
General Authority Agency Miscellaneous Governmental
Classifications Fund Section 8 Housing Grants Grants Governmental Nonspendable:

Items not in spendable form:

Prepaid Items 70,452$ -$ -$ 57,166$ 977,857$ 1,105,475$ Loans and Notes Receivable 5,331,113 - - - - 5,331,113 Inventory - 1,374 - - - 1,374 Total Nonspendable Fund Balances 5,401,565 1,374 - 57,166 977,857 6,437,962 Restricted:

Special revenue projects:

Street and highway code maintenance - - - - 4,663,757 4,663,757 Public improvements and transit projects - - - - 23,905 23,905 Street lighting and landscape maintenance - - - - 466,139 466,139 Traffic Mitigation - - - - 8,385,462 8,385,462 Environemental compliance projects - - - - 6,973,653 6,973,653 EPA grant - - - - 1,531,084 1,531,084 Regional Transport & transport project - - - - 2,719,033 2,719,033 Solid waste - - - - 1,321,698 1,321,698 Drainage improvement projects - - - - 382,328 382,328 Public safety - - - - 6,055 6,055 Fire - - - - 141,357 141,357 Marina dredging - - - - 247,598 247,598 Park dedication - - - - 5,450,570 5,450,570 Community arts and literacy - - - - 388,528 388,528 Loans and Notes Receivable - - - - 2,749,704 2,749,704 Advances - - - - 4,428,346 4,428,346 Low Income Housing - 763,324 31,230,266 - - 31,993,590 Total Restricted Fund Balances - 763,324 31,230,266 - 39,879,217 71,872,807 Committed: -
Capital Improvement - - - - 18,799,385 18,799,385 Field Replacement - - - - 774,367 774,367 Public Education - - - - 745,974 745,974 Total Committed - - - - 20,319,726 20,319,726 Assigned to
Special Revenue Projects 8,274,790 - - - - 8,274,790 Measure M 1,545,285 - - - - 1,545,285 Leisure Service - - - - - - Inventory - - - - - - Encumbrances (PO's) - - - - 107,520 107,520 Total Assigned 9,820,075 - - - 107,520 9,927,595 Unassigned: -
General Fund 10,197,958 - - - 10,197,958 Stabilization Arrangements 2,445,285 - - - 2,445,285 Other governmental funds - - - (4,822,692) (3,909,979) (8,732,671) Total Unassigned 12,643,243 - - (4,822,692) (3,909,979) 3,910,572 Total Fund Balances 27,864,883$ 764,698$ 31,230,266$ (4,765,526)$ 57,374,341$ 112,468,662$ Special Revenue
97 150
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. FUND BALANCE AND NET POSITION, Continued
C. Deficit Fund Balance/Net Position
At June 30, 2024, the following funds had deficit fund balances:
(a) The deficit is caused by timing of recognizing ARPA grant revenue with related transfers out to other funds . (b) The deficit is caused by timing differences and will be reduced by future Contra Costa County Sales tax. (c) The deficit is caused by timing of revenue which would eliminate deficit. (d) The deficit is caused by the completion of the eBart project and will be reduced by future assessments revenues. (e) The Golf Course Fund will be closed in fiscal year 2025 and all assets, liabilities, and fund balance deficiencies will be absorbed by the Economic Development Fund.
(f)The deficit is caused by timing differences and will be reduced by future Caltrans funds. (g)The deficit is caused by timing differences and will be reduced by future revenue from developers. (h) The deficit will be funded by future property taxes from ROPS (Recognized Obligation Payment Schedule).

11. RISK MANAGEMENT
A. General Liability Insurance
The City is self-insured for the first $25,000 of each loss and maintains excess liability insurance through Municipal Pooling Authority (MPA). The City is no t insured for liability occu rrences over $29,500,000 per occurrence.

B. Workers’ Compensation
The City maintains statutory excess workers’ compensation insurance through MPA, and is insured for an individual accident resulting in claims up to statutory limits. The City is not self-insured for any initial portion of a claim but is self-insured for claims exceeding statutory limits.

C. Estimated Reserves for Claims
Municipalities are required to record their liability for uninsured claims and to reflect the current portion of this liability as expenditure in their financial statements. As discussed below, the City has coverage for such claims, but it has retained the risk for the deductible or uninsured portion, of these claims. 98 151
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

11. RISK MANAGEMENT, Continued
C. Estimated Reserves for Claims, Continued
The City reports all claims as a current liability base d on historical results. The City’s liability for uninsured claims, based on claims history, was comp uted as follows and is recorded in the Insurance Internal Service Fund:

D. Purchased Insurance
MPA provides additional coverage for the following risks incurred by the City:

MPA is governed by a Board consisting of representatives from member municipalities. 99 152
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

11. RISK MANAGEMENT, Continued
D. Purchased Insurance, Continued
The Board controls the operations of MPA, including selection of management and approval of operating budgets, independent of any influence by member municipalities beyond their representation on the Board.

The City’s deposits with MPA are in accordance with formulas established by MPA. Actual surpluses or losses are shared according to a formula developed from overall loss costs and spread to member entities on a percentage basis after a retrospective rating.

Audited financial statements can be obtained from Municipal Pooling Authority at 1911 San Miguel Drive #200, Walnut Creek, CA 94596-5332.

E. Adequacy of Protection
During the past three fiscal (claims) years none of the above programs of protection have had settlements or judgments that exceeded pooled or insured covera ge. There have been no significant reductions in pooled or insured liability coverage from coverage in the prior year.

12. DEFINED BENEFIT PENSION PLANS
A. Plan Descriptions and Summary of Balances by Plan
The City has two defined benefit pension plans, a Miscellaneous Plan and a Safety Plan. The Miscellaneous Plan is an Agent-Multiple Employer Plan and the Safety Plan is a Cost-Sharing Employer Plan administered by the California Public Employees’ Retirement System (CalPERS). Benefit provisions under the Plans are established by State statute and City Ordinance.

All qualified permanent and probationary employees are eligible to participate in the separate Safety Plan, cost-sharing multiple employer defined benefit pension plan and Miscellaneous (all other) Plan, an agent multiple-employer defined benefit pension plan, administered by the California Public Employees’ Retirement System (CalPERS), which acts as a common investment and administrative agent for its participating member employers. CalPERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.

For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position have been determined on the same basis as they are reported by the CalPERS Financial Office. For this purpose, benefit payments (including refunds of employee contributions) are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value. 100
153
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. DEFINED BENEFIT PENSION PLANS, Continued
A. Plan Descriptions and Summary of Balances by Plan, Continued Below is a summary of the deferred outflows of resources, net pension liabilities and deferred inflows of resources by Plan:

The long-term portion of the governmental activities Net Pension Liability is liquidated primarily by the General Fund.

Each Plan is discussed in detail below.

B. CalPERS Miscellaneous Plan
Benefits Provided – CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries.

Benefits are based on years of credited service, equal to one year of full time employment. Members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of service. The death benefit is one of the following:
the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law.

The Pension Reform Act of 2013 (PEPRA), Assembly Bill 340, is applicable to employees new to CalPERS and hired after December 31, 2012.
101
154
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. DEFINED BENEFIT PENSION PLANS, Continued
B. CalPERS Miscellaneous Plan, Continued
The Plans’ provisions and benefits in effect at June 30, 2024, are summarized as follows:

Beginning in fiscal year 2016, CalPERS collects employer contributions for the Plan as a percentage of payroll for the normal cost portion as noted in the rates above and as a dollar amount for contributions toward the unfunded liability (UAL). The dollar amou nts are billed on a monthly basis or the City can elect a lump sum payment option. The City’s required contributions for the unfunded liability in the Miscellaneous for the year ended June 30, 2024 were $ 2,038,647, which were made under the lump sum payment option.

Employees Covered – As of the June 30, 2022 actuarial va luation date, the following employees were covered by the benefit terms for the Plan:

As of June 30, 2024, the City had 215 active employees in the Miscellaneous Plan.

Contributions – Section 20814(c) of the California Public Em ployees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for both Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any un funded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.

Employer contribution rates may change if plan contracts are amended. Payments made by the City to satisfy contribution requirements that are identified by the Plan terms as Plan member contribution requirements are classified as Plan member contributions. (A) Represents a blended contribution rate.
102
155
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. DEFINED BENEFIT PENSION PLANS, Continued
B. CalPERS Miscellaneous Plan, Continued
Net Pension Liability – The City’s net pension liability for the Miscellaneous Plan is measured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability of the Plan is measured as of June 30, 2023, using an annual actu arial valuation as of June 30, 2022 rolled forward to June 30, 2023 using standard update procedures.

Changes in Net Pension Liability – The changes in the Net Pension Liability for the Miscellaneous Plan follows:

Sensitivity of the Net Pension Liability to Changes in the Discount Rate – The following presents the net pension liability of the City for the Plan, calculated using the discount rate for the Plan, as well as what the City’s net pension liability would be if it were ca lculated using a discount rate that is 1- percentage point lower or 1-percentage point higher than the current rate:
103
156
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. DEFINED BENEFIT PENSION PLANS, Continued
B. CalPERS Miscellaneous Plan, Continued
Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions – Gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time.

The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflo ws and deferred inflows of resources related to pensions and are to be recognized in future pension expense.

The amortization period differs depending on the source of the gain or loss:

Difference between projected and actual earnin gs on investments – 5 year straight-line amortization
All other amounts – Straight-line amortization over the average expected remaining services lives of all members that are provided with benefits (active, inactive, and retired) as of the beginning of the measurement period
The expected average remaining service lifetime (EARSL) is calculated by dividing the total future service years by the total number of plan participants (active, inactive, and retired). Note that inactive employees and retirees have remaining service lifetimes equal to 0. Also note that total future service is based on the members’ probability of decrementing due to an event other than receiving a cash refund.

For the year ended June 30, 2024, the City recognized pension expense of $5,926,378. At June 30, 2024, the City reported deferred outflows of resources and defe rred inflows of resources related to pensions from the following sources:
104
157
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. DEFINED BENEFIT PENSION PLANS, Continued
B. CalPERS Miscellaneous Plan, Continued
$ 3,797,186 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Actuarial assumptions and information regarding the discount rate are discussed in Note 12D below.

C. CalPERS Safety Plan
Benefits Provided – CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries.

The Plans’ provisions and benefits in effect at June 30, 2024, are summarized as follows:

Year Ending
June 30, Amortization
2025 1,650,327$
2026 1,637,846
2027 3,716,969
2028 120,970
Total 7,126,112$
Annual
105
158
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. DEFINED BENEFIT PENSION PLANS, Continued
C. CalPERS Safety Plan, Continued
Beginning in fiscal year 2016, CalPERS collects employer contributions for the Plan as a percentage of payroll for the normal cost portion as noted in the rates above and as a dollar amount for contributions toward the unfunded liability (UAL). The dollar amou nts are billed on a monthly basis or the City can elect a lump sum payment option. The City’s required contributions for the unfunded liability in the Safety for the year ended June 30, 2024 were $2,562,085 which were made under the lump sum payment option.

Contributions – Section 20814(c) of the California Public Em ployees’ Retirement Law requires that the employer contribution rates for all public employers are determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for both Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any un funded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.

For the year ended June 30, 2024, the employer contributions were as follows:

Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions – As of June 30, 2024, the City reported net pension liabilities for its proportionate shares of the net pension liability of the Plan as follows:

The City’s net pension liability for each Plan is measured as the proportionate share of the net pension liability. The net pension liability of each of the Plans is measured as of June 30, 2023, and the total pension liability for each Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2022 rolled forward to June 30, 2023 using standard update procedures. The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of contributions to the pension plans relative to the pr ojected contributions of al l participating employers, actuarially determined
106
159
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. DEFINED BENEFIT PENSION PLANS, Continued
C. CalPERS Safety Plan, Continued
The City’s proportionate share of the net pension liability for the Plan as of measurement date June 30, 2022 and 2023 was as follows:

For the year ended June 30, 2024, the City recognized pension expense of $8,122,594. At June 30, 2024, the City reported deferred outflows of resources and defe rred inflows of resources related to pensions from the following sources:
$4,677,823 reported as deferred outflows of reso urces related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:
107
160
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. DEFINED BENEFIT PENSION PLANS, Continued
C. CalPERS Safety Plan, Continued
Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate – The following presents the City’s proportionate share of the net pension liability for each Plan, calculated using the discount rate for each Plan, as well as what the City’s proportionate share of the net pension liability would be if it were calculated using a di scount rate that is 1-percentage point lower or 1- percentage point higher than the current rate:

Actuarial assumptions and information regarding the discount rate are discussed in Note 12D below.

D. Information Common to the Miscellaneous and Safety Plans Actuarial Assumptions – The total pension liabilities in the June 30, 2022 actuarial valuations were determined using the following actuarial assumptions:
(1) Actuarial assumptions are the same for all benefit tiers (Tier I-Classic, Tier II, and Tier III-PEPRA) (2) Depending on age, service and type of employment
(3) Net of pension plan investme nt expenses, includes inflation (4) The mortality table used was developed based on CalPERS' specific data. The probabilities of mortality are based on the 2021 CalPERS Experience Study for the period from 2001 to 2019. Pre- retirement and post- retirement mortality rates include generational mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries. For more details on this table, please refer to the CalPERS Experience Study and Review of Actuarial Assumptions report from November 2021 that can be found on the CalPERS website.

Total

1.0% Decrease 5.90%
Net Pension Liability 61,232,085$
Current Discount Rate 6.90%
Net Pension Liability 40,696,551$

1.0% Increase 7.90%
Net Pension Liability 23,907,290$
108
161
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. DEFINED BENEFIT PENSION PLANS, Continued
D. Information Common to the Miscellaneous and Safety Plans, Continued Discount Rate – The discount rate used to measure the total pension liability was 6.90% for the Miscellaneous and Safety Plans. The projection of cash flows used to determine the discount rate for each Plan assumed contributions from all plan members in the Public Employees Retirement Fund (PERF) will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

The long-term expected rate of return on pension plan investments was determined using a building- block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calculated over the next 20 years using a building-block approach.

The expected rate of return was then adjusted to account for assumed administrative expenses of 10 basis points.

The expected real rates of return by asset class are as follows:
(1) An expected inflation of 2.30% used for this period. (2) Figures are based on the 2021 Asset Liability Management study. 109
162
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. DEFINED BENEFIT PENSION PLANS, Continued
D. Information Common to the Miscellaneous and Safety Plans, Continued Changes of Assumptions – There were no assumption changes in 2023. Effective with the June 30, 2021 valuation date (June 30, 2022 measurement date), the accounting discount rate was reduced from 7.15% to 6.90%. In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. In addition, demographic assumptions and the price inflation assumption we re changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions. The accounting discount rate was 7.15% for measurement dates June 30, 2017 through June 30, 2021, 7.65% for measurement dates June 30, 2015 through June 30, 2016, and 7.50% for measurement date June 30, 2014.

Pension Plan Fiduciary Net Position – Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.

E. Contra Costa County Employees’ Retirement Association Between July 1, 1973 and June 30, 2001, the City prov ided retirement benefits to its employee groups by contracting with the Contra Costa County Employees' Retirement Association (CCCERA). The City of Pittsburg converted to the CalPERS retirement system effective July 1, 2001 and entered into a Termination Withdrawal Agreement with CCCERA that resulted in the following consequences:

CCCERA retained the obligation to provide future benefits to the City's past retirees and vested members that had left the City's employment prior to July 1, 2001.

The City would provide CalPERS retirement benefits for its then current and future employees. The Termination Withdrawal Agreement stated that as of June 30, 2001, the City accrued liability and allocated assets was determined at $31,483,218. The Terminat ion Withdrawal Agreement also stated that due to market fluctuation and the uncertainty with other actuarial assumptions, the unfunded accrued liability will be recomputed every three years as CCCERA’s triennial experience studies are completed. In addition, CCCERA is required to annually submit to the City a cash accounting update of the City of Pittsburg Bookkeeping Asset Account. If the ratio of the balance of the City's Bookkeeping Asset Account to its triennial updated terminatio n unfunded liability is below 95% or exceeds 105%, the resulting obligation (if not paid in full) or surplus, will be amortized as a level amount over 15 years at a 7.75% annual interest rate.

In January 2006, the City received correspondence from CCCERA indicating that the City had an updated unfunded liability of $11,902,898 that had been re-determined as of December 31, 2003. In June 2006, the City issued Pension Obligation bonds for a total amount of $39,566,055; upon completion of this transaction the City utilized these bond proceeds to prepay the unfunded liability owed to CCCERA which amounted to $12,700,000 as of June 30, 2006. The balance of bond funds in the amount of $25,977,758 was used to prepay the City's unfunded accrued liability for both the miscellaneous and safety plans to CalPERS.
110
163
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. DEFINED BENEFIT PENSION PLANS, Continued
E. Contra Costa County Employees’ Retirement Association, Continued Almost a year later the City received a letter fr om CCCERA dated August 23, 2007, providing the December 31, 2006 withdrawal liability update. In summary, the update reported the funding ratio of the present value of benefits ($47.9 million) to allocate d market assets ($45.4 million) as 94.8%. The August 23, 2007 letter stated that since this ratio is below 95% this triggers a lump sum payment as of December 31, 2006 for $2,505,433 plus interest at the rate of 7.8% to date of payment or an annual payment of $289,144 to be amortized over 15 years starting with the first payment due on December 31, 2007.

In December of 2010, CCCERA sent a letter to the City regarding the triennial update of the City of Pittsburg's withdrawal liability as of December 31, 2009. The City of Pittsburg's unfunded termination liability of $15,877,533 was calculated by The Segal Company, which would result in an annual payment of $1,826,746 or approximately $1.5 million more than CCCERA’s previous 2006 calculated annual payment of $289,144. In response to CCCERA’s December 2010 calculated triennial update of the City's withdrawal liability, the City worked with CCCERA to amend the City's Termination Agreement to (1) allow the calculation to be prepared on an Actuarial rather than Market value of assets basis, and (2) create an 18-month lag between the valuation date and the date the contribution is due which lowered the December 31, 2009 unfunded obligation from $15.9 million to $9.9 million.

In addition, the City borrowed $3.8 million from the City’s Water Fund balance at the LAIF annual interest rate to repay a portion of the City’s CCCERA unfu nded liability and used $1,9 80,096 of various fund balances to help reduce the City’s CCCERA unfunded liability. Thus, through fiscal year 2013-2014, the City reduced its CCCERA unfunded liability by $5,780,096 leaving $4.1 million to be repaid over 15 years at the 7.75% annual interest rate.

In December of 2013, CCCERA sent a triennial update of the City of Pittsburg’s pension liability with CCCERA. The liability was increased to $11,312,353 resu lting in 14 annual payments of $1,306,656 at an interest rate of 7.25% per annum.

In December of 2015, CCCERA sent a triennial update of the City Of Pittsburg’s pension liability with CCCERA. The liability was decreased to $6,810,830 resu lting in 15 annual payments of $773,523 at an interest rate of 7.0% per annum.

In December of 2019, CCCERA sent a triennial update of the City of Pittsburg’s pension liability with CCCERA. The liability was decreased to $5,816,84 resulting in 15 annual payments of $660,633 with an interest rate of 7.0% per annum.

In December of 2021, CCCERA sent a triennial update of the City of Pittsburg’s pension liability with CCCERA. The liability was increased to $6,368,753 resulting in 15 annual payments of $711,103 with an interest rate of 7.0% per annum.

At June 30, 2024, the Net Pension Liability of this Plan was $9,130,033. 111
164
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

13. OTHER POST-EMPLOYMENT BENEFITS
Plan Description. The City of Pittsburg Retiree Healthcare Plan (Plan) is an agent-multiple employer defined benefit healthcare plan administered by the City. The plan provides healthcare benefits to eligible retirees and their dependents. Benefit provisio ns are established and may be amended through agreements and memorandums of understanding between the City, its management employees, and unions representing City employees.

The City allows eligible retirees to continue in the City medical plans, currently Kaiser and Health Net.

The City contributes up to a percentage of the single or dual Kaiser Retiree premium based on years of City service. No dental, vision, or life insurance benefits are provided.

On December 24, 2013, the City established an ag reement with the California Public Employees’ Retirement System (CalPERS) to set aside funds and deposit into the California Employer’s Retiree Benefit Trust (CERBT) fund to accumulate, and distribute asse ts for the exclusive benefit of retirees and their beneficiaries. Plan assets are irrevocable and may not be used for any purpose other than funding post- retirement health care. The CERBT fund is an agent multiple employer plan and in order to ensure that the CERBT fund remains compliant with all reporting requirements, the CalPERS is responsible for publishing aggregate GASB 43 compliance Financia l Statements, Notes, and Required Supplementary Information (RSI). The information may be found on CalPERS website at www.calpers.ca.gov.

Funding Policy. There is no statutory requirement for the Ci ty to prefund its OPEB obligation. The City has currently chosen to prefund OPEB. There are no employee contributions.

For fiscal year 2023-2024, the City reported $2,168,821 in contributions to the OPEB Plan, including $1,234,821 in premium payments for retirees, $434,000 for implicit subsidies, $500,000 for contributions to the CERBT fund, and no reimbursements from the CERBT fund for premium payments for retirees.

The City allows retirees to participate in the same City medical plans (Kaiser and Health Net) as active employees. For the Kaiser medical plan, retiree premium rates are the same as the active employees.

Because this premium rate is a “blended” rate, reti ree premiums payments are lower than what they would pay if the retirees were in a standalone medica l plan, resulting in an implied subsidy for retirees under GASB Statement 75.

Employees Covered by Benefit Terms . Membership in the plan consisted of the following at the measurement date of June 30, 2023:
112
165
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

13. OTHER POST-EMPLOYMENT BENEFITS, Continued
Actuarial Methods and Assumptions . Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and the plan members) and include the types of benefits provided at the time of each valu ation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used are consistent with the long-term perspective of the calculations. The total OPEB liability as of measurement date June 30, 2023, was determined using the following actuarial assumptions:

Net OPEB Liability. The City’s net OPEB liability was measured as of June 30, 2024 and the total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation dated June 30, 2023, based on the actuarial methods and assumptions shown on the previous page.

The underlying mortality assumptions were based on the CalPERS 2000-2019 Experience Study and all other actuarial assumptions used in the June 30, 2023 valuation were based on the results of a June 30, 2017 actuarial experience study for the period July 1, 2018 through June 30, 2019.

The long-term expected rate of return on OPEB plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of OPEB plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected in flation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:
113
166
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

13. OTHER POST-EMPLOYMENT BENEFITS, Continued
Discount Rate – The discount rate used to measure the to tal OPEB liability was 6.25%. The projection of cash flows used to determine the discount rate assumed that City contributions will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries. Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of proj ected benefit payments to determine the total OPEB liability.

Changes in Net OPEB Liability. The changes in the net OPEB liability are shown in the following table:

Detailed information about the OPEB plan’s fiduciary ne t position is available in the separately issued plan financial report that may be obtained from CalPERS. The benefit payments and refunds include implicit subsidy benefit payments in the amount of $434,000. 114
167
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

13. OTHER POST-EMPLOYMENT BENEFITS, Continued
Sensitivity of the Net OPEB Liability to Changes in the Discount Rate and Healthcare Cost Trend Rates.

The following presents the net OPEB liability of the City, as well as what the City's net OPEB liability would be if it were calculated using a discount ra t e t h a t i s 1 - p e r c e n t a g e - p o i n t l o w e r ( 5 . 2 5 % ) o r 1 - percentage-point higher (7.25%) than the current discount rate:

The following presents the net OPEB liability of the City, as well as what the City's net OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower or 1- percentage-point higher than the current healthcare cost trend rates:

OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB. For the year ended June 30, 2024, the City recognized OPEB expense of $1,132 ,207. At June 30, 2024, the City reported deferred outflows and inflows of resources related to OPEB from the following sources:
115
168
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

13. OTHER POST-EMPLOYMENT BENEFITS, Continued
$2,168,821 reported as deferred outflows of reso urces related to contributions subsequent to the measurement date will be recognized as a reduction of the OPEB liability in the year ended June 30, 2025.

Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized as part of OPEB expense as follows:

14. COMMITMENTS AND CONTINGENCIES
A. Grants from Other Governments
The City participates in a number of Federal, State, and County programs that are fully or partially funded by grants received from other governmental units. Ex penditures financed by grants are subject to audit by the appropriate grantor government. If expend itures are disallowed due to noncompliance with grantor program regulations, the City may be required to reimburse the grantor government. As of June 30, 2024, some amounts of grant expenditures have not been audited, but the City believes that disallowed expenditures, if any, based on subsequent audits will not have a material effect on any individual governmental funds or the overall financial condition of the City.

B. Litigation
The City is a defendant in a number of lawsuits which have arisen in the normal course of business. While substantial damages are alleged in some of these actions, their outcome cannot be predicted with certainty.
116
169
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

14. COMMITMENTS AND CONTINGENCIES
C. Construction Commitments
As of June 30, 2024, the City has construction commitments to various capital projects as shown in the table below:
117
170
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

14. COMMITMENTS AND CONTINGENCIES, Continued
C. Construction Commitments, Continued
West Leland Street Lighting 143,568
Police Women's Locker Room Expansion 141,999
PittsburgCenter Smart Pilot Project 137,640
ST-5 Citywide Arterial Median Conversion Project 136,992 Highway 4 Trunk Line Relief (2007-09) 133,113
Measure M-Creak Seal 129,000
Measure M-Striping 115,490
California Theatre - Phase I 106,868
Annual Park and Landscaping Improvements 101,212
Mea M Surplus - Recreation 340 Marina 90,481
Council Chamber Broadcast System 88,263
Measure M-Pavement Repairs 87,443
Train Replacement Carousel Repairs 83,000
Water System Master Plan 74,238
FY 23-24 Citywide Traffic Calming 73,763
ST-11 HSIP 10-Crestview Dr Pavement Impr 64,160
Measure M-Park Maint. (Oakhills, DeAnza 56,478
Fishing Pier (CIP) 54,229
Diablo Wetlands Mitigation Grant 52,354
Bicycle Treatment 44,945
ARPA-Citywide Alt Fuel Infr & Fleet Upgr 42,845
Marina Infrastructure Rehab 40,000
Country Library/Library Services 39,403
Boat Launch Ramp Infrastructure Upgrade 33,778
Measure M-Willow Pass Rd On-Ramp 32,721
Software Purchase 30,693
G-26 Install Citywide EV Charging Station 29,953
OBAG3-Delta De Anza Trail Improv 28,386
Annual Park Features Replacement 26,928
Video Camera Project 24,099
ALCO Shredder Project (tracking, customer proj) 22,735
Citywide Sewer Inspection Project 21,675
Lead and Copper Rules Revision 20,720
Electrical Substation Battery Replacement 20,000
ARPA-Courtyard by Marriott Hotel 19,574
Century Plaza Redevelopment 14,554
Measure M-Parking Lot Resurfacing 13,720
Duct Bank and Vault Replacements 8,568
GF Surplus - Public Arts 7,520
Sewer Master Plan Update 6,317
Measure M-Sidewalk Replacement 5,545
PASS Loveridge and Bailey Corridors 5,158
ST-8 Bridge Maint. & Repairs 5,000
PD - Security Cams 3,647
Dockside Power Expansion REIMB 2,699
Capital Reinvestment Projects 2,616
Police - VMWare Infrastructure 692
Brownfield EPA Grant 158
Other Construction 1,369,937
Total Construction Commitments 113,293,256$
118
171
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

14. COMMITMENTS AND CONTINGENCIES, Continued
D. Sales Tax Participation Agreements
The City negotiates sales tax participation agreements on an individual basis. The City has the following sales tax participation agreements with three entities as of June 30, 2024:
*Pursuant to the Sales and Use Tax law (chapter 8 – Article 1 – section 7056), in order to protect the confidential information of sales taxes collected and abatements provided to each of the specific agencies, the City has presented the aggregate amount abated during the current fiscal year for this entity.

15. SUCCESSOR AGENCY ACTIVITIES
The activities of the Successor Agency are report ed in the Successor Agency to the Redevelopment Agency Private-Purpose Trust Fund as the activities are under the control of the Oversight Board. The City provides administrative services to the Successor Agency to wind down the affairs of the former Redevelopment Agency. Activities of the Successor Agency are as follows:

A. Notes and Loans Receivable
The various rehabilitation and construction loans including deferred and accrued interest balance is $6,547,055 as of June 30, 2024. These loans have been made to individual homeowners, businesses and developers within the Redevelopment Project Area. The terms of these loans are specific to the borrower and interest rates, as well as us age and repayment requirements, vary according to the loan type. The following are descriptions of the various loans:

Gross Dollar
Amount of
Abatement
in Fiscal
Entity Tax Abated Year 2024 Commitments
Contra Costa County i) 50% of Sales Tax Revenue from
annexation area; ii) 100% PG&E
Franchise Fee to City in the Annexation
Area
51,731$ Upon annexation of the
northwest inclusion Mirant
Power Plant, the City would
receive an increased share of the
County's property tax revenue of
50% of all sales and use tax
revenues from the Annexation
Area
Private Company (Confidential)* 25% of Sales Tax Revenue of the parcel not to exceed $1,850,000 over 10 years
from 10/15/2012 through 10/14/2022
67,064 Relocation of business
Contra Costa County $150,000 to County if Sales Tax
Revenues that the City receives from the
annexation area is greater than
$250,000/year. If Sales Tax Revenue is
less than $250,000, then the amount to be
transferred to the County shall be
reduced by the amount the sales
revenue that fell short of $250,000
150,000 None
119
172
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

15. SUCCESSOR AGENCY ACTIVITIES, Continued
A. Notes and Loans Receivable, Continued
Housing and rehabilitation loans are provided to homeowners who meet low- and moderate-income requirements as defined by the Department of Housing and Urban Development. These residential loans are available from $5,000 to $25,000 per property at a loan term of 3.0% simple interest for 10 years. The property will be rehabilitated to be free from health and safety violations upon completion of the rehabilitation program. The outstanding balance of these loan types as of June 30, 2024 was $181,043. • In 2005, a long agreement was entered into with the Mt. Diablo Unified School District (District) in the amount of $6,178,936 for capital improvements. The funding was provided with the 2003A Bond proceeds. The District will repay the loan from scho ol impact fees collected until the Agency is fully r e i m b u r s e d o r 3 5 y e a r s , w h i c h e v e r o c c u r s f i r s t . T h e b a l a n c e o u t s t a n d i n g a s o f J u n e 3 0 , 2 0 2 4 w a s $2,946,433.
• The remaining loans receivable of $3,419,579 as of June 30, 2024 represent a number of small business and property owner rehabilitation and construction loans to eliminate blight by assisting improvements and rehabilitation of properties that were vacant or underutilized.

B. Capital Assets
Capital assets are valued at historical cost or estimated historical cost if historical cost is not available.

Donated capital assets are valued at their estimated fair market value on the date donated. The Agency's policy has set the capitalization threshold for general capital assets at $5,000 and infrastructure capital assets at $25,000 for reporting purposes. The Succ essor Agency has recorded all its public domain (infrastructure) capital assets, which include landscape, storm, street, and traffic systems.

All capital assets with limited useful lives are depreciated over their estimated useful lives. The purpose of depreciation is to spread the cost of capital assets equitably among all users over the life of these assets.

The amount charged to depreciation expense each year represents that year’s pro rata share of the cost of capital assets.

Depreciation of all capital assets is charged as an expense against operations each year and the total amount of depreciation taken over the years, called accumulated depreciation, is reported on the balance sheet as a reduction in the book value of capital assets.

Depreciation is provided using the straight line method, which means the cost of the asset is divided by its expected useful life in years and the result is charged to expense each year until the asset is fully depreciated. The Successor Agency has assigned th e useful lives and capitalization thresholds listed below to capital assets.
120
173
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

15. SUCCESSOR AGENCY ACTIVITIES, Continued
B. Capital Assets, Continued
Depreciation is recorded on a straight-line method over the useful lives of the assets as follows:
• Building and Improvements 20 - 70 years
• Machinery and Equipment 3 - 10 years
• Infrastructure 20 - 75 years Capital Asset Additions, Retirements and Balances
Major outlays for capital assets and improvements are capitalized as pr ojects are constructed. Interest incurred during the construction phase is reflected in the capitalized value of the asset constructed, net of interest earned on the invested proceeds over the same period.

C. Long-Term Debt
The Successor Agency’ long-term debt activities for fiscal year ended June 30, 2024 are as follows:

Balance at Balance at
June 30, 2023 Deletions June 30, 2024
Capital assets not being depreciated:

Land 1,151,580$ -$ 1,151,580$ Total capital assets not being depreciated 1,151,580 - 1,151,580 Capital assets being depreciated:

Buildings and improvements 1,919,493 - 1,919,493 Total capital assets being depreciated 1,919,493 - 1,919,493 Less accumulated depreciation and amortization:

Buildings and improvements (547,073) (43,542) (590,615) Net capital assets being depreciated (547,073) (43,542) (590,615) Total capital assets, net 2,524,000$ (43,542)$ 2,480,458$ 121
174
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

15. SUCCESSOR AGENCY ACTIVITIES, Continued
C. Long-Term Debt, Continued
1999 Redevelopment Agency Tax Allocation Bonds
1999 Redevelopment Agency Tax A llocation Bonds (1999 RDA Bonds) outstanding at June 30, 2024 amounted to $71,590,000. The bonds bear interest at rates between 4.1 % and 6.2% with interest payments m a d e s e m i - a n n u a l l y o n F e b r u a r y 1 a n d A u g u s t 1 . T h e b o n d s m a t u r e o n A u g u s t 1 o f e a c h y e a r . T h e proceeds of the bonds were used to provide money for certain public capital improvements located within the Agency's Project Area, to fund a reserve account, and to pay cost of issuance incurred in connection with the issuance. Annual principal and interest payments secured by the RDA property tax increment revenues are expected to require less than 20% fr om these revenues. The tota l principal and interest remaining to be paid on the bonds is $71,590,000 For fiscal year 2023-2024, principal and interest paid were $8,755,000. With the dissolution of the Redevelopment Agency discussed above, Tax Increment is no longer distributed, and instead the Successor Agency receives payments from the County’s Redevelopment Property Tax Trust Fund (RPTTF) that are to be used to fund debt service on the Bonds, with no distinction between housing and non-housing revenues.

In June 2014, the City issued the 2014 Successor Ag ency to the Redevelopment Agency of the City of Pittsburg Bonds which partially refunded $6,110,000 of currently outstanding Current Interest Bonds of the 1999 bonds.

The Bonds unaccreted discount and the current ye ar accretion totaled $25,018,325 and $5,522,948, respectively, at June 30, 2024. The Bonds do not pay periodic interest. Interest on the Bonds will accrete in value at the rates between 6.10% and 6.20%. Repayment of the accreted principal commenced on August 1, 2019. Final repayment will be August 1, 2030.

The annual debt service requirements to mature the Capital Appreciation Bond portion of the 1999 RDA Bonds outstanding at June 30, 2024, were as follows
122
175
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

15. SUCCESSOR AGENCY ACTIVITIES, Continued
C. Long-Term Debt, Continued
2006 Series A Housing Set Aside Redevelopment Agency Tax Allocation Bonds 2006 Series A Housing Set Aside Tax Allocation Bonds (2006A HSA RDA Bonds) outstanding at June 30, 2023 amounted to $7,125,000. On November 30, 2006, the Agency issued $11,020,000 of Series 2006A Bonds bearing interest at 5.12-5.31% to fund low and moderate income housing of benefit to the Agency's Los Medanos Redevelopment Project, to fund a reserve account, and to pay costs of issuance incurred in connection with issuance, sale and delivery of the Series 2006A RDA bonds. The bonds with interest payments made semi-annually on February 1 and August 1 each year commencing August 1, 2007 through August 1, 2036. Annual principal and interest payments on the bonds are expected to require less than 22% from these revenues. The total principal an d interest remaining to be paid on the bonds is $9,456,213. For fiscal year 2023-2024, principal and interest paid were $714,247 With the dissolution of the Redevelopment Agency discussed above, Tax Increment is no longer distributed, and instead the Successor Agency receives payments from the County’s Redevelopment Property Tax Trust Fund (RPTTF) that are to be used to fund debt service on the Bonds, with no distinction between housing and non-housing revenues.

The annual debt service requirements to mature the Series 2006A Bonds outstanding at June 30, 2024, were as follows:
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City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

15. SUCCESSOR AGENCY ACTIVITIES, Continued
C. Long-Term Debt, Continued
2014 Redevelopment Agency Tax Allocation Refunding Bonds 2014 Series Successor Agency to the Redevelopment Agency Subordinate Tax Allocation Refunding Bonds (2014 STAB Bonds) outstanding at June 30, 20 24 amounted to $17,785,000. The 2014 STAB Bonds bear interest at rates between 4.0% and 5.0% with interest payments made semi-annually on February 1 and August 1. The 2014 STAB Bonds mature annually from 2016 to 2030 on August 1 in amounts ranging from $2,645,000 to $6,335,000. Proceeds from the 2014 STAB Bonds were used to refund $74,049,000 of the Agency's 2003A RDA Bonds, partially refund the 1999 RDA Bonds, and to pay costs of issuance incurred in connection with the issuan ce, sales and delivery of 2014 STAB Bonds. Annual principal and interest payments secured by the RDA property tax increment revenues are expected to require less than 14% from these revenues. The total principal and interest remaining to be paid on the bonds is $17,786,125. With the dissolution of the Redevelopment Agency discussed above, Tax Increment is no longer distributed, and instead the Succes sor Agency receives payments from the County’s Redevelopment Property Tax Trust Fund (RPTTF) that are to be used to fund debt service on the Bond.

The annual debt service requirements to mature the Series 2014 Bonds outstanding at June 30, 2024 were as follows:
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City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

15. SUCCESSOR AGENCY ACTIVITIES, Continued
C. Long-Term Debt, Continued
2016 Series A Housing Set Aside Successor Agency Tax Allocation Refunding Bonds In February 2016, the Successor Agency issued 2016 Series A Set Aside Tax Allocation Refunding Bonds (2016A HSA Bonds) in the original principal amount of $13,845,000 and $26,690,000, respectively. The proceeds of the bonds were used to refund and defease all of the outstanding 2004 Series A Housing Set- Aside Redevelopment Agency Tax Allocation Bonds. The 2016 Series A Bonds bear interest rates between

1.323% and 3.984% with interest payments made se mi-annually on February 1 and August 1 each year commencing August 1, 2016 through August 1, 2029. Th e Bonds are secured by an irrevocable pledge of the Pledged Tax Revenues to be derived from Los Medanos II and Los Medanos III subareas and an irrevocable pledge of certain moneys in the Redevelopment Property Tax Trust Fund.

The annual debt service requirements to mature th e Series 2016A HSA Bonds outstanding at June 30, 2024, were as follows:
2016 Series A and B Subordinate Tax Allocation Refunding Bonds In February 2016, the Successor Agency issued 2016 Series A and B Subordinate Tax Allocation Refunding Bonds in the original principal amount of $120,085,000 and $26,690,000, respectively. The Bonds bear an interest rate of 5.0% with interest payments made semi-annually on March 1 and September 1 each year commencing September 1, 2016 through September 1, 2029.

The 2016 Series A Bond proceeds were used to refund the outstanding balance of the 2004 Series A Redevelopment Agency Subordinate Ta x Allocation Bonds in the amount of $101,195,000. The issuance of the Bond terminated the swap agreement in connec tion with the 2004 Series A Bond. The 2016 Series A Bond proceeds were also used to refund and defease a portion of the outstanding 2008 Series A Redevelopment Agency Subordinate Tax Allocation Refunding Bonds. 125
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City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

15. SUCCESSOR AGENCY ACTIVITIES, Continued
C. Long-Term Debt, Continued
The annual debt service payments on the 2016 Seri es A Subordinate Tax Allocation Refunding Bonds outstanding at June 30, 2024, are as follows:

With the dissolution of the Redevelopment Agency discussed above, Tax Increment is no longer distributed, and instead the Successor Agency receives payments from the County’s Redevelopment Property Tax Trust Fund (RPTTF) that are to be used to fund debt service on the Bonds, with no distinction between housing and non-housing revenues.

The 2016 Series B Bond proceeds were used to refund the outstanding balance of the 2006 Series B Redevelopment Agency Subordinate Tax Allocation Bonds in the amount of $22,470,000 and also used to refund and defease a portion of the outstanding 20 08 Series A Redevelopment Agency Subordinate Tax Allocation Refunding Bonds. The 2016 Series B Subordinate Tax Allocation Refunding Bonds were repaid in fiscal year 2018-2019.

The bond covenants for the Successor Agency Tax Allocation Bonds contain events of default that require the revenue of the Successor Agency to be applied by the Trustee as specified in the terms of the agreement if any of the following conditions occur: default on debt service pa yments; the failure of the Successor Agency to observe or perform the conditions, covenants, or agreement terms of the debt; bankruptcy filing by the Successor Agency; or if any court or competent jurisdiction shall assume custody or control of the Successor Agency. The covenants also contain a subjective acceleration clause that allows the trustees or holders, who hold the majority of the aggregate principal amount of the notes, to accelerate payment of the entire principal amount outstanding and interest accrued to become immediately due if they determine that a material adverse change occurs.

Year Ending
June 30, Principal Interest Total
2025 13,210,000$ 4,178,750$ 17,388,750$ 2026 13,890,000 3,501,250 17,391,250 2027 14,610,000 2,788,750 17,398,750 2028 15,355,000 2,039,625 17,394,625 2029 16,140,000 1,252,250 17,392,250 2030 16,975,000 424,375 17,399,375 Total 90,180,000$ 14,185,000$ 104,365,000$ 126
179
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

15. SUCCESSOR AGENCY ACTIVITIES, Continued
D. Commitments and Contingencies
The activities of the former Redevelopment Agency and the Successor Agency are subject to further examination by the State of Californ i a a n d t h e a m o u n t s , i f a n y , o f t r a n s f e r s o r e x p e n d i t u r e s m a y b e disallowed. The State Controller’s Office conducted a review of propriety of asset transfers between the former Redevelopment Agency or the Successor agency and any public agency that occurred on or after January 1, 2011.

16. RESTATEMENTS
The City’s prior period adjustments in the governmental funds, other than those changes within the financial reporting entity, were as follows:

1. Error correction ($4,298,163) - was to adjust loan receivable principal portion which was wrongly offset by corresponding deferred inflows of resources ($4,298,163). Therefore, for the fiscal year ended June 30, 2023, deferred inflows of resources for the General Funds was overstated while fund balance was understated by $4,298,163. The City is implementing GASB 100 (Accounting Changes and Error Corrections for the first time with this audit. Before GASB 100, recording deferred inflows of resources to offset loan receivable principal portion was a common practice by government agencies.

2. Error correction ($24,596,630)- was to adjust loan receivable principal portion which was wrongly offset by corresponding deferred inflows of resources ($24,596,630). Therefore, for the fiscal year ended June 30, 2023, deferred inflows of resources for the Successor Agency Housing Special Revenue fund was overstated while fund balance was understated by $24,596,630. The City is implementing GASB 100 (Accounting Changes and Error Corrections for the first time with this audit. Before GASB 100, recording deferred inflows of resources to offset loan receivable principal portion was a common practice by government agencies.

3. Error correction ($3,411,926)- was to adjust loan re ceivable principal portion which was wrongly offset by corresponding deferred inflows of resources ($3,411,926). Therefore, for the fiscal year ended June 30, 2023, deferred inflows of resources for the Non-Major Governmental Funds was overstated while fund balance was understated by $3,411,926. Th e City is implementing GASB 100 (Accounting Changes and Error Corrections for the first time with this audit. Before GASB 100, recording deferred inflows of resources to offset loan receivable principal portion was a common practice by government agencies.

4. Error correction ($11,157,224)- to correct overstated revenue to Miscellaneous Grants fund balance.

The ARPA fund revenues were overstated by $11, 157,224 for the year ended June 30, 2023 and were incorrectly recognized while there was no matchi ng expenditures. The early guidance on ARPA lacked clarity in recognizing when to record lo ss of revenue due to COVID which led to some government agencies recording revenue when funds were committed rather than expended. 127
180
City of Pittsburg
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

16. RESTATEMENTS, Continued
Summary of the restatements are as follows:
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181

REQUIRED

SUPPLEMENTARY INFORMATION
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182

This Page Intentionally Left Blank
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City of Pittsburg
Required Supplementary Information
For the year ended June 30, 2024

1. BUDGETS AND BUDGETARY ACCOUNTING
a.
b.
c.
d.
e.

Budgets for the General Fund, Special Revenue Funds, Capital Projects Funds and Debt Service Funds are adopted on a basis consistent with GAAP
Public hearings are conducted at the City to obtain pu blic comments. The City Council annually adopts the budget for the ensuing fiscal year prior to July 1st.

Budgeted revenue amounts represent the original budget modified by adjustments authorized during the year.

Budgeted expenditure amounts represent original appropriations adjusted for supplemental appropriations during the year which were contingent upon new or additional revenue sources and re-appropriated amounts for prior year encumbrances. The City Manager must approve adjustments to departmental budgets; however, management may amend the budgeted amounts within departmental expenditure classifications.

Appropriations lapse at the end of the fiscal year and then are re-budgeted for the coming year. Beginning with the FY 2014-2015 budget, capital project appropriations continue appropriations until the project is completed.

Under Article XIII B of the California Constitution (the Gann Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations from the proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller, returned to the taxpayers through revised tax rates or revised fees schedules, or an excess in one year may be offset against a deficit in the following year. For the fiscal year ended June 30, 2024, based on the calculations by City Management, proceeds of taxes did not exceed the appropriations limit.
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City of Pittsburg
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Fund
For the year ended June 30, 2024
Variance
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:

Property tax 4,891,689$ 4,959,305$ 5,256,976$ 297,671$ Sales tax 23,080,000 20,727,000 21,347,108 620,108
Franchise tax 5,841,800 5,937,954 6,338,139 400,185
Other taxes 1,643,000 1,663,000 1,311,889 (351,111)
Intergovernmental revenues 11,150,950 13,391,865 13,557,564 165,699 Permits, licenses, and fees 1,212,100 1,107,200 875,864 (231,336) Fines and forfeitures 378,400 378,400 290,073 (88,327)
Service fees 5,070,219 4,528,326 5,104,034 575,708
Use of money and property 504,374 816,178 3,279,220 2,463,042 Other revenues 2,349,355 2,262,853 2,569,345 306,492
Total revenues 56,121,887 55,772,081 59,930,212 4,158,131 EXPENDITURES:

Current:

General government 2,462,986 6,161,124 7,604,694 (1,443,570) City Council 153,155 153,155 149,837 3,318
City Manager and City Clerk 751,434 662,892 588,255 74,637 City Attorney 611,813 567,249 407,084 160,165
Human resources 1,496,771 1,303,671 1,413,201 (109,530) Finance and services 1,716,311 1,560,311 1,680,089 (119,778) Community development and services 11,649,301 11,188,493 11,282,176 (93,683) Public safety 37,648,053 35,109,240 34,831,364 277,876
Public works - administration 100,847 393,455 251,885 141,570 Public works - streets 3,534,143 3,226,143 3,247,017 (20,874) Public works - parks 216,530 216,530 276,589 (60,059)
Capital outlay and improvements 7,637,103 350,000 - 350,000 Debt service:

Interest and fiscal charges - - 10,546 (10,546)
Total expenditures 67,978,447 60,892,263 61,742,737 (850,474)

REVENUES OVER (UNDER)
EXPENDITURES (11,856,560) (5,120,182) (1,812,525) 3,307,657 OTHER FINANCING SOURCES (USES):

Transfers in 12,079,476 18,776,985 10,411,62 1 (8,365,364) Transfers out (8,032,771) (19,783,598) (12,603,468) 7,180,130 Total other financing sources (uses) 4,046,705 (1,006,613) (2,191,847) (1,185,234) Net change in fund balances (7,809,855)$ (6,126,795)$ (4,004,372) 2,122,423$ FUND BALANCES:

Beginning of year, as previously presented 27,571,092
Prior period adjustments 4,298,163
Beginning of year, as restated 31,869,255
End of year 27,864,883$
Budget Amounts
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City of Pittsburg
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Housing Authority (Section 8) - Special Revenue Fund
For the year ended June 30, 2024
Variance
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:

Intergovernmental revenues 21,091,092$ 21,091,092$ 22,843,310$ 1,752,218$ Service fees 1,520,663 1,702,041 1,769,586 67,545 Use of money and property - - 35 35 Other revenues 344,729 353,795 253,617 (100,178) Total revenues 22,956,484 23,146,928 24,866,548 1,719,620 EXPENDITURES:

Current:

Community development and services 23,034,996 22,946,501 24,293,616 (1,347,115) Debt service:

Principal retirement - - 43,912 (43,912) Interest and fiscal charges - - 7,766 (7,766) Total expenditures 23,034,996 22,946,501 24,345,294 (1,398,793)

REVENUES OVER (UNDER)
EXPENDITURES (78,512) 200,427 521,254 320,827 OTHER FINANCING SOURCES (USES):

Transfers in 55,000 55,000 55,000 - Transfers out (24,907) (24,907) (24,907) - Total other financing sources (uses) 30,093 30,093 30,093 - Net change in fund balances (48,419)$ 230,520$ 551,347 320,827$ FUND BALANCES:

Beginning of year 213,351
End of year 764,698$
Budget Amounts
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City of Pittsburg
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Successor Agency Housing - Special Revenue Fund
For the year ended June 30, 2024
Variance
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:

Intergovernmental revenues -$ -$ 751,594$ 751,594$ Service fees 7,500 7,500 7,500 - Use of money and property 96,654 90,038 252,019 161,981 Other revenues 279,021 279,066 131,952 (147,114) Total revenues 383,175 376,604 1,143,065 766,461 EXPENDITURES:

Current:

Community development and services 4,078,492 4,145,029 1,141,853 3,003,176 Debt service:

Principal retirement - - 105,703 (105,703) Interest and fiscal charges - - 15,887 (15,887) Total expenditures 4,078,492 4,145,029 1,263,443 2,881,586

REVENUES OVER (UNDER)
EXPENDITURES (3,695,317) (3,768,425) (120,378) 3,648,047 OTHER FINANCING SOURCES (USES):

Transfers out (55,749) (55,749) (55,749) - Total other financing sources (uses) (55,749) (55,749) (55,749) - Net change in fund balances (3,751,066)$ (3,824,174)$ (176,127) 3,648,047$ FUND BALANCES:

Beginning of year, as previously presented 6,809,763
Prior period adjustments 24,596,630
Beginning of year, as restated 31,406,393
End of year 31,230,266$
Budget Amounts
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City of Pittsburg
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Miscellaneous Grants - Special Revenue Fund
For the year ended June 30, 2024
Variance
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:

Intergovernmental revenues 1,474,626$ 7,678,644$ 3,918,331$ (3,760,313)$ Use of money and property 5,670 6,000 18,143 12,143 Other revenues - 245,000 338,055 93,055 Total revenues 1,480,296 7,929,644 4,274,529 (3,655,115) EXPENDITURES:

Current:

Community development and services 12,400 1,068,985 2,276,825 (1,207,840) Public safety (162,000) 241,524 240,057 1,467 Capital outlay and improvements - 344,916 103,000 241,916 Total expenditures (149,600) 1,655,425 2,619,882 (964,457)

REVENUES OVER (UNDER)
EXPENDITURES 1,629,896 6,274,219 1,654,647 (4,619,572) OTHER FINANCING SOURCES (USES):

Transfers in - 6,078,288 6,078,288 - Transfers out (1,457,226) (12,256,552) (12,322,510) (65,958) Total other financing sources (uses) (1,457,226) (6,178,264) (6,244,222) (65,958) Net change in fund balances 172,670$ 95,955$ (4,589,575) (4,685,530)$ FUND BALANCES:

Beginning of year, as previously presented 10,981,273
Prior period adjustments (11,157,224)
Beginning of year, as restated (175,951)
End of year (4,765,526)$
Budget Amounts
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City of Pittsburg
Required Supplementary Information
For the year ended June 30, 2024
Agent-Multiple Employer Pension Plan
Schedule of Changes in the Net Pension Liability and Related Ratios - Last 10 Years Measurement Date 2014 2015 2016

TOTAL PENSION LIABILITY
Service cost 1,857,954$ 1,843,426$ 1,885,618$
Interest on total pension liability 5,258,464 5,559,084 5,954,324 Differences between expected and actual
experience - (227,056) 696,901
Changes in assumptions - (1,494,012) -
Changes in benefits ---
Benefit payments, including refunds of employee contributions (2,752,016) (2,914,360) (2,993,564) Net change in the total pension liability 4,364,402 2,767,082 5,543,279 Total pension liability - beginning 70,559,887 74,924,289 77,691,371 Total pension liability - ending (a) 74,924,289$ 77,691,371$ 83,234,650$

PLAN FIDUCIARY NET POSITION
Contributions - employer 1,519,402$ 1,631,437$ 1,875,971$ Contributions - employee 873,360 1,036,916 902,130
Net investment income 8,949,231 1,323,594 284,705
Administrative expense - (68,782) (37,256)
Benefit payments, including refunds of employee contributions (2,752,016) (2,914,360) (2,993,564) Net Plan to Plan Resource Movement - - -
Other Miscellaneous Income/(Expense) - - -
Net change in plan fiduciary net position 8,589,977 1,008,805 31,986 Plan fiduciary net position - beginning 51,531,626 60,121,603 61,130,408 Plan fiduciary net position - ending (b) 60,121,603$ 61,130,408$ 61,162,394$ Net pension liability - ending (a) - (b) 14,802,686$ 16,560,963$ 22,072,256$ Plan fiduciary net position as a percentage of the total pension liability 80.24% 78.68% 73.48% Covered payroll 11,526,481$ 11,958,650$ 12,684,949$
Net pension liability as a percentage of covered payroll 128.42% 138.49% 174.00% Notes to the Schedule:

Miscellaneous Plan
Benefit changes: The figures above do not include any liability impact that may have resulted from plan changes which occurred after the June 30 valuation date. This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (aka. Golden Handshakes).

Changes in assumptions: In 2018, 2019, 2020 and 2021, there were no changes. In 2022, the accounting discount rate reduced from 7.15% to 6.90%. In 2017, the accounting discount rate reduced from 7.65% to 7.15%. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5% (net of administrative expense) to 7.65% (without a reduction for pension plan administrative expense). In 2014, amounts were based on the 7.5% discount rate. All other assumptions for the 30, 2014 measurement date were the same as those used for the June 30, 2015 and 2016 measurement dates.
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189
2017 2018 2019 2020 2021 2022 2023
2,185,281$ 2,232,196$ 2,288,787$ 2,353,997$ 2,424,499$ 2,555,597$ 2,782,716$ 6,187,235 6,453,806 7,017,326 7,496,928 7,781,919 8,005,677 8,596,775 (1,930,694) 1,226,287 2,711,217 1,434,791 (1,431,592) (704,978) 3,060,870 5,646,863 (2,707,757) - - - 2,393,680 -
- ----- 1 19,894
(3,017,394) (3,355,097) (3,733,114) (4,398,489) (4,538,899) (5,009,882) (5,568,045) 9,071,291 3,849,435 8,284,216 6,887,227 4,235,927 7,240,094 8,992,210 83,234,650 92,305,941 96,155,376 104,439,592 111,326,819 115,562,746 122,802,840 92,305,941$ 96,155,376$ 104,439,592$ 111,326,819$ 115,562,746$ 122,802,840$ 131,795,050$ 2,156,429$ 2,157,639$ 2,465,718$ 2,806,209$ 3,074,038$ 3,608,526$ 3,756,882$ 931,204 1,304,579 1,158,921 1,201,689 1,174,220 1,246,674 1,379,182 6,786,287 5,770,585 4,832,621 3,927,075 18,549,157 (7,577,502) 5,719,597 (90,302) (105,852) (52,429) (110,160) (81,481) (62,141) - (3,017,394) (3,355,097) (3,733,114) (4,398,489) (4,538,899) (5,009,882) (5,568,045) - (29,876) - - 10,124 - -
- (201,014) 170 - - - (67,624)
6,766,224 5,540,964 4,671,887 3,426,324 18,187,159 (7,794,325) 5,219,992 61,162,394 67,928,618 73,469,582 78,141,469 81,567,793 99,754,952 91,960,627 67,928,618$ 73,469,582$ 78,141,469$ 81,567,793$ 99,754,952$ 91,960,627$ 97,180,619$ 24,377,323$ 22,685,794$ 26,298,123$ 29,759,026$ 15,807,794$ 30,842,213$ 34,614,431$

73.59% 76.41% 74.82% 73.27% 86.32% 74.88% 73.74%
13,415,686$ 14,252,307$ 16,955,330$ 15,500,208$ 16,948,240$ 18,566,233$ 20,228,530$ 181.71% 159.17% 155.10% 191.99% 93.27% 166.12% 171.12%
Miscellaneous Plan
137
190
City of Pittsburg
Required Supplementary Information
For the year ended June 30, 2024
Agent-Multiple Employer Pension Plan
Schedule of Contributions - Last 10 Years
Fiscal Year Ended 2015 2016 2017
Actuarially determined contribution 2,464,100$ 2,745,066$ 3,094,191$ Contributions in relation to actuarially
determined contributions (2,464,100) (2,745,066) (3,094,191) Contribution deficiency (excess) -$ -$ -$ Covered employee payroll 11,958,650$ 12,684,949$ 13,415,686$ Contributions as a percentage of
covered employee payroll 20.61% 21.64% 23.06%
Notes to Schedule
Valuation date
Actuarial cost method
Amortization method
Asset valuation method
Inflation
Salary increases
Payroll Growth
Investment rate of return
Retirement age
Mortality
Net of Pension Plan Investment and Administrative Expenses; includes The probabilities of Retirement are based on the CalPERS Experience Study.

The probabilities of mortality are based on the CalPERS Experience Study. Pre - retirement and Post-retirement mortality rates include 20 years of projected mortality improvement using Scale AA published by the Society of Actuaries for 2015 to 2018. For 2019, 2020, 2021, and 2022 preretirement and post- retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries.

Actuarial Value of Assets

2.75% for 2015 to 2019, and 2.875% for 2020, and 2.50% for 2021 to 2022, 2.3% in 2023
Varies by Entry Age and Service

2.80%

7.50% for 2015 to 2018, 7.375% for 2019, 7.25% for 2020, 7.00% for 2021, 7.15% for 2022, and 7.00% for 2023.

Miscellaneous Plan
June 30, 2022
Entry-Age Normal Cost Method
Level Percent of Payroll
138
191
2018 2019 2020 2021 2022 2023 2024
2,253,288$ 2,333,907$ 2,806,210$ 3,072,547$ 3,603,067$ 3,757,320$ 3,797,186$ (2,253,288) (2,333,907) (2,806,210) (3,072,547) (3,603,067) (3,757,320) (3,797,186) -$ -$ -$ -$ -$ -$ -$ 14,252,307$ 16,955,330$ 15,500,208$ 16,948,240$ 18,566,233$ 20,228,530$ 21,992,020$

15.81% 13.77% 18.10% 18.13% 19.41% 18.57% 17.27%
Miscellaneous Plan
139
192
City of Pittsburg
Required Supplementary Information
For the year ended June 30, 2024
Cost-Sharing Defined Pension Plan
Schedule of Changes in the Net Pension Liability and Related Ratios - Last 10 Years Measurement Date 6/30/2014 6/30/2015 6/30/2016
Plan's proportion of the net pension liability 0.37777% 0.39815% 0.46609% Plan's proportionate share of
the net pension liability 14,169,983$ 16,405,587$ 21,519,369$ Plan's covered payroll 12,627,215$ 13,134,628$ 14,209,375$ Plan's proportionate share of the net pension
liability as percentage of its covered payroll 112.22% 124.90% 151.44% Fiduciary net position as a percentage of the
total pension liability 81.42% 79.38% 74.91%
Plan's Proportionate Share of Aggregate Employer Contributions 1,757,817$ 2,148,293$ 2,219,565$ Safety Plan
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193
6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 6/30/2022 6/30/2023

0.48116% 0.49472% 0.44506% 0.46340% 0.49214% 0.53469% 0.54444% 25,094,362$ 25,389,095$ 27,782,901$ 30,873,359$ 17,271,735$ 36,741,589$ 40,696,551$ 10,647,118$ 10,804,084$ 12,017,570$ 10,485,001$ 12,076,801$ 12,796,156$ 13,199,562$ 235.69% 235.00% 231.19% 294.45% 143.02% 287.13% 308%

74.42% 75.93% 75.53% 74.62% 86.58% 73.42% 76.21%
2,518,889$ 2,954,663$ 3,357,057$ 4,346,298$ 5,968,738$ 7,564,096$ 4,677,823$ Safety Plan
141
194
City of Pittsburg
Required Supplementary Information
For the year ended June 30, 2024
Cost-Sharing Defined Pension Plan
Schedule of Contributions - Last 10 Years
Fiscal Year Ended 2015 2016 2017
Actuarially determined contribution 2,924,602$ 2,449,689$ 2,573,034$ Contributions in relation to actuarially
deemed contributions (2,924,602) (2,449,689) (2,573,034) Contribution deficiency (excess) -$ -$ -$ Covered payroll 13,134,628$ 14,209,375$ 10,647,118$ Contributions as a percentage of
covered payroll 22.27% 17.24% 24.17%
Valuation date: June 30, 2013 June 30, 2014 June 30, 2015 Methods and assumptions used to determine contribution rates:

Actuarial cost method
Amortization method
Remaining amortization period
Asset valuation method
Discount Rate
Inflation
Varies by Entry Age and Service
Investment rate of return
Retirement age
Mortality
Safety Plan
Entry age
Level percentage of payroll, closed
30 years
Market Value of Assets

6.90%

2.50%
Annual increase vary by category, entry age and duration of service 7% Net of Pension Plan Investment and Administrative Expenses; includes Inflation.

The probabilities of Retirement are based on the 2021 CalPERS Experience Study for the period from 2000 to 2019.

The probabilities of mortality are derived from CalPERS' Membership Data for all Funds based on CalPERS' specific data from a 2021 CalPERS Experience Study. The table includes 20 years of mortality improvements using the Society of Actuaries Scale BB.
142
195
2018 2019 2020 2021 2022 2023 2024
2,674,332$ 2,771,970$ 3,602,530$ 3,943,074$ 4,278,885$ 4,560,882$ 4,677,823$ (2,674,332) (2,771,970) (3,602,530) (3,943,074) (4,278,885) (4,560,882) (4,677,823) -$ -$ -$ -$ -$ -$ -$ 10,804,084$ 12,017,570$ 10,485,001$ 12,076,801$ 12,796,156$ 13,199,562$ 13,673,281$

24.75% 23.07% 34.36% 32.65% 33.44% 34.55% 34.21%
June 30, 2016 June 30, 2017 June 30, 2018 June 30, 2019 June 30, 2020 June 30, 2021 June 30, 2022 Safety Plan
143
196
City of Pittsburg
Required Supplementary Information
For the year ended June 30, 2024
Agent Multiple Employer OPEB Plan
Schedule of Changes in the Net OPEB Liability and Related Ratios - Last 10 Years* Measurement Date 6/30/2017 6/30/2018 6/30/2019
Total OPEB Liability
Service cost 807,000$ 830,803$ 801,058$
Interest 2,558,000 2,680,717 2,806,423
Differences between expected and actual experience -- ( 2,201,658) Changes of assumptions -- ( 933,286)
Benefit payments (1,625,000) (1,536,951) (1,701,943)
Net change in the total OPEB liability 1,740,000 1,974,569 (1,229,406) Total OPEB liability - beginning 37,912,000 39,652,000 41,626,569 Total OPEB liabilty - ending (a) 39,652,000 41,626,569 40,397,163 Plan Fiduciary Net Position
Contribution - employer 2,106,000 2,021,796 2,201,943 Net investment income 295,000 270,566 277,898 Administrative expense (1,000) (6,320) (919) Benefit payments (1,625,000) (1,536,951) (1,701,943) Net change in plan fiduciary net position 775,000 749,091 776,979 Plan fiduciary net position - beginning 2,585,000 3,359,734 4,108,825 Plan fiduciary net position - ending (b) 3,360,000 4,108,825 4,885,804 Net OPEB liability/asset - ending (a) - (b) 36,292,000$ 37,517,744$ 35,511,359$ Plan fiduciary net position as a percentage of
the total OPEB liability 8.47% 9.87% 12.09%
Covered-employee payroll 15,921,000$ 16,568,668$ 14,845,791$ Net OPEB liability as a percentage of covered-employee payroll 227.95% 226.44% 239.20% * Fiscal year 2018 was the first year of implementation, therefore only seven years are shown. 144
197
6/30/2020 6/30/2021 6/30/2022 6/30/2023
647,726$ 634,868$ 630,242$ 624,246$
2,720,705 2,794,547 2,340,650 2,418,343
- (5,776,939) - (2,289,948)
(710,108) 69,768 - 2,732,465
(1,476,338) (1,626,643) (1,709,185) (1,734,444)
1,181,985 (3,904,399) 1,261,707 1,750,662 40,397,163 41,579,148 37,674,749 38,936,456 41,579,148 37,674,749 38,936,456 40,687,118 1,976,338 726,643 2,109,185 2,234,444 172,535 1,527,524 (823,764) 373,468 (2,459) (2,103) (1,575) (1,673) (1,476,338) (1,626,643) (1,709,185) (1,734,444) 670,076 625,421 (425,339) 871,795
4,885,804 5,555,880 6,181,301 5,755,962
5,555,880 6,181,301 5,755,962 6,627,757
36,023,268$ 31,493,448$ 33,180,494$ 34,059,361$

13.36% 16.41% 14.78% 16.29%
14,623,265$ 13,712,707$ 13,191,542$ 12,659,854$
246.34% 229.67% 251.53% 269.03%
145
198
City of Pittsburg
Required Supplementary Information
For the year ended June 30, 2024
Agent Multiple Employer OPEB Plan
Schedule of OPEB Contributions - Last 10 Years*
Fiscal Year Ended June 30, 2018 2019 2020
Actuarially determined contribution 3,938,000$ 4,096,000$ 4,270,000$ Contributions in relation to the actuarially
determined contribution (2,021,796) (2,201,943) (2,038,794) Contribution deficiency (excess) 1,916,204$ 1,894,057$ 2,231,206$ Covered employee payroll 16,568,668$ 14,845,791$ 14,623,265$ Contributions as a percentage of
covered employee payroll 12.20% 14.83% 13.94%
Notes to Schedule
Valuation date: June 30, 2017 June 30, 2017 June 30, 2019 Actuarial cost method
Amortization method
Amortization period
Asset valuation method
Inflation
Salary increases
Payroll Growth
Investment rate of return
Retirement age
Mortality
Entry-Age Normal
Level percent of payroll
18 years remaining as of June 30, 2024
Investment gains and losses spread over 5-year rolling period

2.50%
Varies by Entry Age and Service

2.75%

6.25%
The probabilities of Retirement are based on CalPERS Experience Study for the period from 2000-2019.

Society of Actuaries Scale MP-21
146
199
2021 2022 2023 2024
3,911,000$ 4,117,000$ 3,639,000$ 3,738,000$ (726,643) (2,234,444) (2,234,444) (2,168,821) 3,184,357$ 1,882,556$ 1,404,556$ 1,569,179$ 13,712,707$ 13,191,542$ 12,659,854$ 11,800,274$

5.30% 16.94% 17.65% 18.38%
June 30, 2019 June 30, 2021 June 30, 2021 June 30, 2023 147
200

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148
201

SUPPLEMENTARY INFORMATION
149
202

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150
203
City of Pittsburg
Nonmajor Governmental Funds
For the Year Ended June 30, 2024
Special Revenue Funds
Special revenue fund s are used t o account for specific revenue s (other than those for major capital projects) that are restricted legally to expenditures for particular purposes.

Small Cities Grants Fund
This fund was established to account for direct grants received for housing and rental rehabilitatio n programs, which are program income and used to supplement housing rehabilitation costs.

Gas Tax Fund
This fund receives 18% of the collected half-cent sale s tax, which is based on the population and road mileage, to fund regional transportation and transit related projects.

Measure J Tax Fund
This fund account s for 3/4% add-on sales tax approved b y voters in November 2005 fo r enhanced public safet y services.

Lighting & Landscape Fund
Receipts of the assessments from residential and commercial propertie s are used b y this fund to provide maintenance of street lighting, street trees, landscape, curbs, gutters and sidewalks within the City.

Lighting & Landscape Oak Hills Fund
Receipts of the special assessment s from residential and commercial properties, i n the Oak Hill area, are used b y this fund to provide maintenance of street lighting, street trees, landscape, curbs, gutters and sidewalks.

Assets Seizure Fund
This fund was established to administer the seized assets from criminal activities.

Marina Vista Field Replacement Fund
This fund accounts for the collection of rents (maximum of $60,000 annually) from the Athletic Fields rentals of the Marina Vista School fields as set forth in the Construction and Use Agreement for the contingent turf replacement of the fields.

Local Law Enforcement Block Grant Fund
This fund accounts for the funds provided by Department of Justice t o supplement local crime preventio n and public safety efforts.

Southwest Pittsburg GHAD II Fund
Southwest Pittsburg Geological Hazard Abatement fund was created to account for the maintenance district of which responsibilities are restricted to mitigation/abatement of geologic landslide and erosion hazards. The fund receives revenues from assessments levied on the properties located on the hillside areas for its operation costs.

Southwest Pittsburg GHAD II Administrative Fund
This fund was created to facilitate the administration (salaries and fringe benefits) for the Southwest Pittsburg GHAD II Fund.
151
204
City of Pittsburg
Nonmajor Governmental Funds
For the Year Ended June 30, 2024
Special Revenue Funds (Continued)
Storm Water Utility (NPDES) Fund
This fund accounts for property assessments collected by the County of Contra Costa on behalf of the City to provide funding for National Pollutant Discharge Elimination System (NPDES) and general drainage maintenance activities within the Pittsburg Storm Water Utility Area to reduce pollutants.

HUD Community Development Block Grant Fund
Receives annual entitlement fro m Department of HU D to finance public services, housin g activities, economic development projects, public facility projects, program planning and administration.

NSP Neighborhood Stabilization Program Fund
This fund accounts for the funding by the California Department of Housing and Community Development for purchases and redevelopment of foreclosed homes, the purchase and rehabilitation of abandoned or foreclosed homes, the demolition of blighted structures, and the redevelopment of demolished or vacant property within the City.

CalHome Program Fund
This fund wa s established t o account fo r the fundin g from the California Department of Housin g and Communit y Development for mortgage assistance and owner-occupied housing rehabilitation loans.

California Energy Conservation Program
This fund is funded by the Energy Efficiency and Conservation Block Grant to enable the City to pursue the City's LED streetlight retrofit, to develop and implement projects to i mprove energy efficiency and reduce energy use and fossil fuel emissions within the City.

San Marco CFD 2004-01 Fund
The receipts of this fund provide funding for the increased demand of police services in the San Marco subdivision of the Community Facilities District.

Solid Waste Fund
This fund has been established to finance City activities associated with AB 939 compliance such as the annual reporting of recycling programs, hazardous waste collection and the coordination of public education programs. In addition this fund finances the City’s solid waste facility Local Enforcement Program (LEA) for permitting, inspection and enforcement of State regulations governing operational, c losed and illegal landfills and refuse processing facilities.

These revenues will also provide for litter abatement and other similar services to mitigate the impact on the City of Pittsburg associated with hosting the Material Recovery and Transfer Station (MRTS) which services the entire region.

The Solid Waste Fund revenues are generated by a $1.50 surcharge on each ton of solid waste received at the Material Recovery and Transfer Station.

Vista Del Mar CFD 2005-2 Fund
The receipts of the fund provided funding for financing increasing demands for police services in and for the Vista Del Mar CFD 2005-2.

Public Safety Services CFD 2005-1 Fund
The receipt s of thi s fund provide fundin g for financing increasing demands for public safet y services within this Community Facilities District.
152
205
City of Pittsburg
Nonmajor Governmental Funds
For the Year Ended June 30, 2024
Special Revenue Funds (Continued)
Park Maintenance CFD 2007-1 Fund
The receipts of this fund provide fundin g for financing increasing demands for park maintenance services within this Community Facilities District.

Cops Hiring Recovery Fund
This fund was established to account for Grants received from law enforcement a gencies to create and preserve jobs and to increase their community policing capacity and crime-prevention efforts.

Pittsburg Arts & Community Foundation
This fund was created for an independent non-profit corporation set up to increase, support and encourage art, literacy, education, economic development, affordable housing, and other community resources and programs to benefit the City of Pittsburg and its residents.

Hillview Jr. High Athletic Field
This fund was established to account for Grants received from Measure WW for financing, construction and joint use of an athletic field at Hillview Junior High School with Pittsburg Unified School District.

Public, Education and Government Fees (PEG)
The City is given authority from California Public Utilitie s Code to levy State Franchise Holder . The revenue of thi s fund supports Public Education and Government (PEG) channel facilities.

Railroad Avenue Specific Area Plan
This fund was created to account for the funding and financing of facilities according to t h eR a i l r o a dA v e n u eS p e c i f i c Plan.

Project Amenities Management Fund
This fund was created to account for continuous maintenance and management of various project amenities for Greystone Place such as stormwater treatment facilities, sa nitary sewer lift stations, emergency vehicle access and gates.

Fire District CFD 2017-01 Fund
The funds will be used solely for supplemental services and facilities of the Fire District that benefited City of Pittsburg.

Golf Course Fund
This fund wa s established t o account for revenues and expenditures associated with providing golfing facilities and services to our community.

US EPA Grants Fund
This fund was established to account for direct grants to enhance public enjoyment, reduce existing environmental contamination of the waterfront and opportunities for economic development in alignment with the General and Trust Lands Use Plans.
153
206
City of Pittsburg
Nonmajor Governmental Funds
For the Year Ended June 30, 2024
Special Revenue Funds (Continued)
Marina Dredging & Infrastructure Improvement Fund
This fund wa s established t o account fo r funding to help facilitate the dred ging project, variou s infrastructure improvements and modernize Marina operations.

Tuscany Meadows CFD 2021-1 Fund
This fund was established to provide funding to help the developer finance the cost of design and construction of public improvements relating to the development of the Tuscany Meadows subdivision. The special tax for the CFD may be used to pay the debt service on bonds issued by the City in the future to finance the facilities or may be used to pay for the facilities on a pay-as-you-go basis, without the issuance of bonds.

Debt Service Funds
Debt service fund s are used t o account for the accumulation of resource s for, and the retirement of, lon g-term debt principal and interest.

Pension Obligations Fund
accounts for the accumulation of resources for payment of principal, interest and related costs of the Pension Obligation Bonds long-term debt and for payments to the Contra Costa County Employees’ Retirement Association for unfunded accrued pension obligations.

Capital Projects Funds
Capital pro jects funds are used t o account fo r the acquisition and constructio n of ma jor capital facilitie s other than those financed by proprietary funds and trust funds.

Inclusionary Housing Fund
This fund was established to account for fees paid by developers in the form of "in-lieu" fees that would be used for the construction of affordable housing.

Traffic Impact Fair Share Fund
This fund wa s established t o account fo r developer fees as a conditio n of development t o mitiga t ef u t u r et r a f f i c impacts.

Kirker Creek Drainage Fees Fund
This fund was established to account for the drainagef e es collected from developers to finance drainage improvement projects.

Traffic Mitigation Fund
Fees collected fro m developers are used b y this fund t o finance the capital improvement pro jects that miti gate the traffic impact.

Capital Improvement Fund
This fund account s for most capital improvement pro jects in the Cit y that have variou s funding sources. Revenues received from various sources are used for related project costs.

Park Dedication Fund
This fund wa s established t o account fo r the fee s collected fro m developers a n du s e df or design, development, construction of new park projects and the rehabilitation of existing parks. 154
207

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155
208
City of Pittsburg
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2024
ASSETS
Cash and investments 267,107$ 939,896$ 2,611,312$ 555,045$ Restricted cash and investments ----
Receivables:

Accounts - 370,674 1,117 3,516
Loans and notes 1,161,040 - - -
Leases ----
Inventory - - - 37,158
Prepaid items and other assets --- 1 ,933
Advances to other funds ----
Total assets 1,428,147$ 1,310,570$ 2,612,429$ 597,652$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable -$ 34,881$ 670$ 165,031$ Taxes payable ----
Refundable deposits ----
Unearned revenue ----
Due to other funds ----
Advances from other funds ----
Total liabilities - 34,881 670 165,031 Deferred Inflows of Resources
Unavailable revenue - - - - Leases - - - - Total deferred inflows of resources - - - - Fund Balances:

Nonspendable - - - 39,091
Restricted 1,428,147 1,275,689 2,611,759 393,530
Committed ----
Assigned ----
Unassigned ----
Total fund balances 1,428,147 1,275,689 2,611,759 432,621 Total liabilities, deferred inflows of
resources and fund balances 1,428,147$ 1,310,570$ 2,612,429$ 597,652$ Special Revenue
Small Cities
Grants Gas Tax Measure J Tax
Lighting &
Landscape
156
209
74,994$ 109,842$ 331,724$ 18,591$ 4,949,084$ 459,423$ - 1 66,627----
- - - 36,001 --
------
------
- 14,574 - 26,453 - -
------
- - - - 2,026,136 -
74,994$ 291,043$ 331,724$ 81,045$ 6,975,220$ 459,423$ 2,385$ -$ -$ -$ 12,492$ -$ ------
- 168,949 - - (10,925) -
- - - 42,467 - -
- - - 38,721 --
------
2,385 168,949 - 81,188 1,567 - - - - - - - - - - - - - - - - - - - - 14,574 - 26,453 - -
72,609 - - - 6,973,653 459,423
- - 331,724 - - -
- 1 07,520----
--- (26,596) --
72,609 122,094 331,724 (143) 6,973,653 459,423 74,994$ 291,043$ 331,724$ 81,045$ 6,975,220$ 459,423$ Special Revenue
Lighting &
Landscape Oak
Hills Assets Seizure
Marina Vista Field
Replacement
Local Law
Enforcement Block
Grant
Southwest
Pittsburg GHAD II
Southwest
Pittsburg GHAD II
Administrative
157
210
City of Pittsburg
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2024
ASSETS
Cash and investments 55,000$ -$ 50,291$ 288,761$ Restricted cash and investments ----
Receivables:

Accounts 373,585 107,193 - -
Loans and notes - 235,800 2,139,473 359,826
Leases ----
Inventory 1,829---
Prepaid items and other assets 490 - - -
Advances to other funds ----
Total assets 430,904$ 342,993$ 2,189,764$ 648,587$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable 1,833$ 35,501$ -$ -$ Taxes payable ----
Refundable deposits ----
Unearned revenue ----
Due to other funds 465,226 47,755 - -
Advances from other funds ----
Total liabilities 467,059 83,256 - - Deferred Inflows of Resources
Unavailable revenue - - 518,760 - Leases - - - - Total deferred inflows of resources - - 518,760 - Fund Balances:

Nonspendable 2,319---
Restricted - 259,737 1,671,004 648,587
Committed ----
Assigned ----
Unassigned (38,474) ---
Total fund balances (36,155) 259,737 1,671,004 648,587 Total liabilities, deferred inflows of
resources and fund balances 430,904$ 342,993$ 2,189,764$ 648,587$ Special Revenue
Storm Water
Utility (NPDES)
HUD Community
Development
Block Grant
Neighborhood
Stabilization
Program CalHome Program
158
211
7$ 10,857$ 1,135,752$ 1,062$ 6,055$ 510,722$ ------
- - 210,477 - - 33,379
------
------
------
-- 7 ,627---
------
7$ 10,857$ 1,353,856$ 1,062$ 6,055$ 544,101$ -$ 1$ 24,561$ -$ -$ 175$ -- (30) ---
------
------
------
------
- 1 24,531 - - 175 - - - - - - - - - - - - - - - - - - -- 7 ,627---
7 10,856 1,321,698 1,062 6,055 543,926
------
------
------
7 10,856 1,329,325 1,062 6,055 543,926 7$ 10,857$ 1,353,856$ 1,062$ 6,055$ 544,101$ Special Revenue
California Energy
Conservation
San Marco CFD
2004-01 Solid Waste
Vista Del Mar
CFD 2005-2
Public Safety
Services CFD 2005-
1 Park Maintenance
CFD 2007-1
159
212
City of Pittsburg
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2024
ASSETS
Cash and investments -$ 485,631$ 442,644$ 718,028$ Restricted cash and investments ----
Receivables:

Accounts - 195 - 29,771
Loans and notes -4 ,020 - -
Leases - 313,295 - -
Inventory - 165,961 --
Prepaid items and other assets -4 ,143 - -
Advances to other funds ----
Total assets -$ 973,245$ 442,644$ 747,799$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable -$ 115,421$ -$ 1,826$ Taxes payable ----
Refundable deposits - 13,700 - -
Unearned revenue - 8,807 - -
Due to other funds ----
Advances from other funds ----
Total liabilities - 137,928 - 1,826 Deferred Inflows of Resources
Unavailable revenue - 4,020 - - Leases - 272,665 - - Total deferred inflows of resources - 276,685 - - Fund Balances:

Nonspendable - 170,104 - -
Restricted - 388,528 - -
Committed - - 442,644 745,973
Assigned ----
Unassigned ----
Total fund balances - 558,632 442,644 745,973 Total liabilities, deferred inflows of
resources and fund balances -$ 973,245$ 442,644$ 747,799$ Special Revenue
Cops Hiring
Recovery
Pittsburg Arts &
Community
Foundation
Hillview Jr. High
Athletic
Public, Education
and Government
Fees (PEG)
160
213
121,235$ 108,340$ 141,357$ 1,600$ 1,379,737$ 247,598$ ------
- - - - 204,922 -
------
------
------
------
------
121,235$ 108,340$ 141,357$ 1,600$ 1,584,659$ 247,598$ -$ -$ -$ -$ 53,575$ -$ ------
- 1 ,066----
------
--- 1 ,563--
3,297,009 - - 375,000 - -
3,297,009 1,066 - 376,563 53,575 - - - - - - - - - - - - - - - - - - - ------
- 107,274 141,357 - 1,531,084 247,598
------
------
(3,175,774) -- (374,963) --
(3,175,774) 107,274 141,357 (374,963) 1,531,084 247,598 121,235$ 108,340$ 141,357$ 1,600$ 1,584,659$ 247,598$ Marina Dredging
& Infrastructure
Improvement
Special Revenue
Railroad Avenue
Specific Area Plan
Project Amenities
Management
Fire District CFD
2017-01 Golf Course US EPA Grants
161
214
City of Pittsburg
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2024
Special Revenue Debt Service
ASSETS
Cash and investments 23,905$ 922,706$ 40,871$ 554,625$ Restricted cash and investments - 1,829,748 - -
Receivables:

Accounts ----
Loans and notes ----
Leases ----
Inventory ----
Prepaid items and other assets - 711,803 - -
Advances to other funds - - 380,000 -
Total assets 23,905$ 3,464,257$ 420,871$ 554,625$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable -$ 2,750$ -$ -$ Taxes payable ----
Refundable deposits ----
Unearned revenue ----
Due to other funds ----
Advances from other funds ----
Total liabilities - 2,750 - - Deferred Inflows of Resources
Unavailable revenue - - - - Deferred inflow related to leases - - - - Total deferred inflows of resources - - - - Fund Balances:

Nonspendable - 711,803 - -
Restricted 23,905 2,749,704 420,871 554,625
Committed ----
Assigned ----
Unassigned ----
Total fund balances 23,905 3,461,507 420,871 554,625 Total liabilities, deferred inflows of
resources and fund balances 23,905$ 3,464,257$ 420,871$ 554,625$ Tuscany Meadows
CFD 2021-1
Pension
Obligations
Capital Projects
Inclusionary
Housing
Traffic Impact Fair
Share
162
215
382,328$ 3,891,674$ 19,522,438$ 4,932,676$ 474,880$ 1,094$ ------
- 183,188 1,770,420 - - -
------
------
- - - 886 - -
- 5 ,000----
- - - - 3,297,009 -
382,328$ 4,079,862$ 21,292,858$ 4,933,562$ 3,771,889$ 1,094$ -$ 10,914$ 2,950,351$ 26,032$ -$ -$ ------
- 5 ,000----
------
------
------
- 15,914 2,950,351 26,032 - - - - - - - - - - - - - - - - - - - - - 5,000 - 886 - -
382,328 4,058,948 - 4,906,644 3,771,889 -
- - 18,342,507 - - 1,094
------
------
382,328 4,063,948 18,342,507 4,907,530 3,771,889 1,094 382,328$ 4,079,862$ 21,292,858$ 4,933,562$ 3,771,889$ 1,094$ Traffic Mitigation
Capital Projects
Kirker Creek
Drainage Fees
Capital
Improvement Park Dedication
Regional Traffic
Mitigation
Infrastructure
Repair &
Replacement
163
216
City of Pittsburg
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2024
ASSETS
Cash and investments 455,784$ 2,174,510$ 1,752,088$ -$ Restricted cash and investments --- -
Receivables:

Accounts - - 2,212,788 105,594
Loans and notes --- -
Leases --- -
Inventory --- -
Prepaid items and other assets --- -
Advances to other funds --- -
Total assets 455,784$ 2,174,510$ 3,964,876$ 105,594$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable -$ -$ 3,222,666$ 418$ Taxes payable --- -
Refundable deposits --- -
Unearned revenue - - - -
Due to other funds --- 1 45,951
Advances from other funds --- -
Total liabilities - - 3,222,666 146,369 Deferred Inflows of Resources
Unavailable revenue - - - - Leases - - - - Total deferred inflows of resources - - - - Fund Balances:

Nonspendable --- -
Restricted - 2,174,510 742,210 -
Committed 455,784 - - -
Assigned --- -
Unassigned --- (40,775)
Total fund balances 455,784 2,174,510 742,210 (40,775) Total liabilities, deferred inflows of
resources and fund balances 455,784$ 2,174,510$ 3,964,876$ 105,594$ Gas Tax – Road
Maintenance and
Rehabilitation
Community
Capital
Improvement
Bailey Road
Maintenance
Regional Freeway
Security Fee
Capital Projects
164
217
Capital Project
Total Nonmajor
Governmental
Funds
-$ 51,151,274$
- 1,996,375
- 5,642,820
- 3,900,159
- 313,295
- 246,861
- 730,996
- 5,703,145
-$ 69,684,925
35,786$ 6,697,269$
- (30)
- 177,790
- 51,274
217,611 916,827
- 3,672,009
253,397 11,515,139
- 522,780
- 272,665
- 795,445
- 977,857
- 39,879,217
- 20,319,726
- 107,520
(253,397) (3,909,979)
(253,397) 57,374,341
-$ 69,684,925$
Developer
Deposit
165
218
City of Pittsburg
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2024
REVENUES:

Franchise tax -$ -$ -$ -$ Other taxes - 2,084,159 1,169,595 -
Intergovernmental revenues - - (109,299) 63,285
Permits, licenses, and fees ----
Fines and forfeitures ----
Special assessments - - - 3,036,987
Service fees ----
Use of money and property 6,534 66,046 28,401 6,527
Other revenues 111,419 - 32,321 33,192
Total revenues 117,953 2,150,205 1,121,018 3,139,991 EXPENDITURES:

Current:

General government - - - 81,536
Finance and services ----
Community development and services - - 186,566 -
Public safety ----
Public works - administration ----
Public works - streets - 1,793,446 - 6,063,126
Capital outlay and improvements - 101,800 38,262 -
Debt service:

Principal retirement ----
Interest and fiscal charges ----
Total expenditures - 1,895,246 224,828 6,144,662

REVENUES OVER (UNDER)
EXPENDITURES 117,953 254,959 896,190 (3,004,671) OTHER FINANCING SOURCES (USES):

Transfers in - 1,800,000 2,950,000 2,754,986
Transfers out - (2,470,144) (710,000) (47,004)
Total other financing sources (uses) - (670,144) 2,240,000 2,707,982 Net change in fund balances 117,953 (415,185) 3,136,190 (296,689) FUND BALANCES:

Beginning of year, as previously presented 84,607 1,690,874 (524,431) 729,310 Prior period adjustments 1,225,587 - - -
Beginning of year, as restated 1,310,194 1,690,874 (524,431) 729,310 End of year 1,428,147$ 1,275,689$ 2,611,759$ 432,621$ Small Cities
Grants Gas Tax Measure J Tax
Lighting &
Landscape
Special Revenue
166
219
-$ -$ -$ -$ -$ -$ ---- 1 ,247,435-
- - - 64,235 - -
------
- 8 0,078----
33,959-----
------
2,241 14 10,571 896 185,332 13,547
------
36,200 80,092 10,571 65,131 1,432,767 13,547 ------
------
- - - 27,172 384,078 375,575
- 34,808 - 58,716 - -
680-----
41,406 -----
------
------
------
42,086 34,808 - 85,888 384,078 375,575 (5,886) 45,284 10,571 (20,757) 1,048,689 (362,028) 1,500---- 5 10,000
---- ( 510,000) ( 5,431)
1,500 - - - (510,000) 504,569 (4,386) 45,284 10,571 (20,757) 538,689 142,541 76,995 76,810 321,153 20,614 6,434,964 316,882
------
76,995 76,810 321,153 20,614 6,434,964 316,882
72,609$ 122,094$ 331,724$ (143)$ 6,973,653$ 459,423$ Assets Seizure
Marina Vista Field
Replacement
Local Law
Enforcement Block
Grant
Southwest
Pittsburg GHAD II
Southwest
Pittsburg GHAD II
Administrative
Lighting &
Landscape Oak
Hills
Special Revenue
167
220
City of Pittsburg
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2024
REVENUES:

Franchise tax -$ -$ -$ -$ Other taxes 894,614 - - -
Intergovernmental revenues - 473,860 - -
Permits, licenses, and fees ----
Fines and forfeitures ----
Special assessments ----
Service fees ----
Use of money and property - 522 1,603 9,447
Other revenues (3,245) ---
Total revenues 891,369 474,382 1,603 9,447 EXPENDITURES:

Current:

General government ----
Finance and services ----
Community development and services - 456,435 - 913
Public safety - 131,862 - -
Public works - administration 334,422 - - -
Public works - streets 979,643 ---
Capital outlay and improvements ----
Debt service:

Principal retirement ----
Interest and fiscal charges ----
Total expenditures 1,314,065 588,297 - 913

REVENUES OVER (UNDER)
EXPENDITURES (422,696) (113,915) 1,603 8,534 OTHER FINANCING SOURCES (USES):

Transfers in 215,000 - - -
Transfers out (14,644) (2,060) - -
Total other financing sources (uses) 200,356 (2,060) - - Net change in fund balances (222,340) (115,975) 1,603 8,534 FUND BALANCES:

Beginning of year, as previously presented 186,185 139,912 48,688 310,227 Prior period adjustments - 235,800 1,620,713 329,826
Beginning of year, as restated 186,185 375,712 1,669,40 1 640,053 End of year (36,155)$ 259,737$ 1,671,004$ 648,587$ Special Revenue
Storm Water
Utility (NPDES)
HUD Community
Development
Block Grant
Neighborhood
Stabilization
Program CalHome Program
168
221
-$ -$ -$ -$ -$ -$ - - - 425,413 1,043,693 -
- - 222,344 - - 33,379
- - 822,795 - - -
------
- 1,455,273 - - - 161,307
- - 17,278 - - -
-6 ,171 31,530 634 5,565 13,889
- - 20,123 - - -
- 1,461,444 1,114,070 426,047 1,049,258 208,575 ------
------
- - 467,298 - - -
- 3,264 238,698 690 1,042 -
------
----- 57,829
------
------
-7 ,121 - - 7,663 7,993
- 10,385 705,996 690 8,705 65,822 - 1,451,059 408,074 425,357 1,040,553 142,753 ------
- (1,701,250) (135,617) (453,000) (1,275,000) (936)
- (1,701,250) (135,617) (453,000) (1,275,000) (936) - (250,191) 272,457 (27,643) (234,447) 141,817 7 261,047 1,056,868 28,705 240,502 402,109
------
7 261,047 1,056,868 28,705 240,502 402,109
7$ 10,856$ 1,329,325$ 1,062$ 6,055$ 543,926$ Special Revenue
California Energy
Conservation
San Marco CFD
2004-01 Solid Waste
Vista Del Mar
CFD 2005-2
Public Safety
Services CFD 2005-
1 Park Maintenance
CFD 2007-1
169
222
City of Pittsburg
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2024
REVENUES:

Franchise tax -$ -$ -$ 128,224$ Other taxes ----
Intergovernmental revenues 28,384 - - -
Permits, licenses, and fees ----
Fines and forfeitures ----
Special assessments ----
Service fees - 10,788 - -
Use of money and property - 17,359 14,105 21,837
Other revenues - 568,901 --
Total revenues 28,384 597,048 14,105 150,061 EXPENDITURES:

Current:

General government ----
Finance and services ----
Community development and services - 528,664 - 35,194
Public safety ----
Public works - administration ----
Public works - streets ----
Capital outlay and improvements ----
Debt service:

Principal retirement - 77,819 - -
Interest and fiscal charges - 21,807 - -
Total expenditures - 628,290 - 35,194

REVENUES OVER (UNDER)
EXPENDITURES 28,384 (31,242) 14,105 114,867 OTHER FINANCING SOURCES (USES):

Transfers in ----
Transfers out (28,384) - - -
Total other financing sources (uses) (28,384) - - - Net change in fund balances - (31,242) 14,105 114,867 FUND BALANCES:

Beginning of year, as previously presented - 589,874 428,539 631,106 Prior period adjustments ----
Beginning of year, as restated - 589,874 428,539 631,106 End of year -$ 558,632$ 442,644$ 745,973$ Cops Hiring
Recovery
Pittsburg Arts &
Community
Foundation
Hillview Jr. High
Athletic
Public, Education
and Government
Fees (PEG)
Special Revenue
170
223
-$ -$ -$ -$ -$ -$ ------
---- 6 43,831 -
------
------
1,609 56,424 72,042 - - -
------
3,836 4,944 3,186 - 35,151 7,890
------
5,445 61,368 75,228 - 678,982 7,890 ------
------
- 6,419 4,533 - 700,253 -
------
------
------
------
------
124,581 -----
124,581 6,419 4,533 - 700,253 - (119,136) 54,949 70,695 - (21,271) 7,890 - - - 1,600 330,000 -
- (115,000) - - (1,500,000) -
- (115,000) - 1,600 (1,170,000) - (119,136) (60,051) 70,695 1,600 (1,191,271) 7,890 (3,056,638) 167,325 70,662 (376,563) 2,722,355 239,708
------
(3,056,638) 167,325 70,662 (376,563) 2,722,355 239,708
(3,175,774)$ 107,274$ 141,357$ (374,963)$ 1,531,084$ 247,598$ Project Amenities
Management
Fire District CFD
2017-01 Golf Course US EPA Grants
Marina Dredging
& Infrastructure
Improvement
Railroad Avenue
Specific Area Plan
Special Revenue
171
224
City of Pittsburg
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2024
Debt Service
REVENUES:

Franchise tax -$ -$ -$ -$ Other taxes --- -
Intergovernmental revenues --- -
Permits, licenses, and fees --- -
Fines and forfeitures --- -
Special assessments --- -
Service fees - 4,570,963 - -
Use of money and property 789 142,881 1,303 17,673
Other revenues --- -
Total revenues 789 4,713,844 1,303 17,673 EXPENDITURES:

Current:

General government 1,061 -- -
Finance and services - 281,212 - -
Community development and services --- -
Public safety --- -
Public works - administration --- -
Public works - streets --- -
Capital outlay and improvements --- -
Debt service:

Principal retirement - 2,650,000 - -
Interest and fiscal charges - 1,696,993 - -
Total expenditures 1,061 4,628,205 - -

REVENUES OVER (UNDER)
EXPENDITURES (272) 85,639 1,303 17,673 OTHER FINANCING SOURCES (USES):

Transfers in --- -
Transfers out --- -
Total other financing sources (uses) - - - - Net change in fund balances (272) 85,639 1,303 17,673 FUND BALANCES:

Beginning of year, as previously presented 24,177 3,375,868 419,568 536,952 Prior period adjustments --- -
Beginning of year, as restated 24,177 3,375,868 419,568 536,952 End of year 23,905$ 3,461,507$ 420,871$ 554,625$ Special Revenue
Tuscany Meadows
CFD 2021-1
Pension
Obligations
Inclusionary
Housing
Traffic Impact Fair
Share
Capital Projects
172
225
-$ -$ -$ -$ -$ -$ ------
-- 3 ,139,437---
- 475,511 - 265,906 - -
------
------
------
12,183 185,414 483,237 167,524 139,713 681
- 6,768 418,675 - - -
12,183 667,693 4,041,349 433,430 139,713 681 ------
------
------
------
------
------
- 79,223 9,872,720 1,204,663 - 30,000
------
------
- 79,223 9,872,720 1,204,663 - 30,000 12,183 588,470 (5,831,371) (771,233) 139,713 (29,319) - - 15,522,005 9,686,099 - -
- (2,925,000) (2,639,096) (6,228,288) - -
- (2,925,000) 12,882,909 3,457,811 - - 12,183 (2,336,530) 7,051,538 2,686,578 139,713 (29,319) 370,145 6,400,478 11,290,969 2,220,952 3,632,176 30,413 ------
370,145 6,400,478 11,290,969 2,220,952 3,632,176 30,413 382,328$ 4,063,948$ 18,342,507$ 4,907,530$ 3,771,889$ 1,094$ Kirker Creek
Drainage Fees
Infrastructure
Repair &
Replacement
Capital Projects
Traffic Mitigation
Capital
Improvement Park Dedication
Regional Traffic
Mitigation
173
226
City of Pittsburg
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2024
REVENUES:

Franchise tax -$ -$ -$ -$ Other taxes --- -
Intergovernmental revenues - - 3,940,915 -
Permits, licenses, and fees - 229,991 --
Fines and forfeitures --- -
Special assessments --- -
Service fees --- -
Use of money and property 15,760 66,501 55,907 -
Other revenues --- 1 16,441
Total revenues 15,760 296,492 3,996,822 116,441 EXPENDITURES:

Current:

General government --- -
Finance and services --- -
Community development and services 47,636 - - -
Public safety - - - 22,850
Public works - administration --- -
Public works - streets -- 3,707,857 -
Capital outlay and improvements --- -
Debt service:

Principal retirement --- -
Interest and fiscal charges --- -
Total expenditures 47,636 - 3,707,857 22,850

REVENUES OVER (UNDER)
EXPENDITURES (31,876) 296,492 288,965 93,591 OTHER FINANCING SOURCES (USES):

Transfers in 75,000 - 956,626 -
Transfers out - - (3,832,000) -
Total other financing sources (uses) 75,000 - (2,875,374) - Net change in fund balances 43,124 296,492 (2,586,409) 93,591 FUND BALANCES:

Beginning of year, as previously presented 412,660 1,878,018 3,328,619 (134,366) Prior period adjustments --- -
Beginning of year, as restated 412,660 1,878,018 3,328,619 (134,366) End of year 455,784$ 2,174,510$ 742,210$ (40,775)$ Regional Freeway
Security Fee
Capital Projects
Community
Capital
Improvement
Bailey Road
Maintenance
Gas Tax – Road
Maintenance and
Rehabilitation
174
227
Capital Project
Total Nonmajor
Governmental
Funds
-$ 128,224$
- 6,864,909
-8 , 5 0 0 , 3 7 1
- 1,794,203
- 80,078
-4 , 8 1 7 , 6 0 1
- 4,599,029
- 1,787,344
147,751 1,452,346
147,751 30,024,105
- 82,597
- 281,212
401,148 3,621,884
- 491,930
- 335,102
- 12,643,307
- 11,326,668
- 2,727,819
- 1,866,158
401,148 33,376,677
(253,397) (3,352,572)
- 34,802,816
- (24,592,854)
- 10,209,962
(253,397) 6,857,390
- 47,105,025
- 3,411,926
- 50,516,95 1
(253,397)$ 57,374,341$
Developer
Deposit
175
228
City of Pittsburg
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Non-Major Governmental Funds
For the year ended June 30, 2024
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:

Franchise tax -$ -$ -$ -$ -$ -$ Other taxes - - - 1,996,500 2,084,159 87,659
Intergovernmental revenues -- --- -
Permits, licenses, and fees -- --- -
Fines and forfeitures -- --- -
Special assessments -- --- -
Service fees -- --- -
Use of money and property 840 6,534 5,694 23,609 66,046 42,437 Other revenues 180,000 111,419 (68,581) -- -
Total revenues 180,840 117,953 (62,887) 2,020,109 2,150,205 130,096 EXPENDITURES:

Current:

General government -- --- -
Finance and services -- --- -
Community development and services 12,423 - 12,423 - - - Public safety -- --- -
Public works - administration -- --- -
Public works - streets - - - 1,750,148 1,793,446 (43,298) Capital outlay and improvements - - - - 101,800 (101,800 ) Debt service:

Principal retirement -- --- -
Interest and fiscal charges -- --- -
Total expenditures 12,423 - 12,423 1,750,148 1,895,246 (145,098)

REVENUES OVER (UNDER)
EXPENDITURES 168,417 117,953 (50,464) 269,961 254,959 (15,002) OTHER FINANCING SOURCES (USES):

Transfers in - - - 1,800,000 1,800,000 -
Transfers out - - - (1,895,871 ) (2,470,144) (574,273)
Total other financing sources (uses) - - - (95,871) (670,144) (574,273) Net change in fund balances 168,417$ 117,953 (50,464)$ 174,090$ (415,185) (589,275)$ FUND BALANCES:

Beginning of year, as previously presented 84,607 1,690,874 Prior period adjustments 1,225,587 -
Beginning of year, as restated 1,310,194 1,690,874
End of year 1,428,147$ 1,275,689$

SPECIAL REVENUE

SMALL CITIES GRANTS GAS TAX
176
229
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,169,595 1,169,595 - - - - - - -
4,723,089 (109,299 ) (4,832,388) - 63,285 63,285 - - -
-- --- --- -
-- --- --- -
- - - 3,163,608 3,036,987 (126,621 ) 34,036 33,959 (77) -- --- --- -
- 28,40 1 28,401 8,192 6,527 (1,665) 1,130 2,24 1 1,111 (83,892) 32,321 116,213 27,324 33,192 5,868 - - -
5,808,792 1,121,018 (4,687,774) 3,199,124 3,139,991 (59,133) 35,166 36,200 1,034 - - - 133,46 1 81,536 51,925 - - -
-- --- --- -
190,028 186,566 3,462 - - - - - -
-- --- --- -
- - - - - - - 680 (680)
- - - 6,338,275 6,063,126 275,149 39,10 1 41,406 (2,305) - 38,262 (38,262) -- --- -
-- --- --- -
-- --- --- -
190,028 224,828 (34,800) 6,471,736 6,144,662 327,074 39,101 42,086 (2,985) 5,618,764 896,190 (4,722,574) (3,272,612) (3,004,671) 267,941 (3,935) (5,886) (1,951) 2,950,000 2,950,000 - 2,754,986 2,754,986 - 1,500 1,500 - (710,000) (710,000) -( 4 7 , 0 0 4 ) (47,004) --- -
2,240,000 2,240,000 - 2,707,982 2,707,982 - 1,500 1,500 - 7,858,764$ 3,136,190 (4,722,574)$ (564,630)$ (296,689) 267,941$ (2,435)$ (4,386) (1,951)$ (524,431)$ 729,310 76,995
---
(524,431) 729,310 76,995
2,611,759$ 432,621$ 72,609$

SPECIAL REVENUE

LIGHTING AND LANDSCAPE

MEASURE J TAX LIGHTING AND LANDSCAPE OAK HILLS
177
230
City of Pittsburg
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Non-Major Governmental Funds
For the year ended June 30, 2024
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:

Franchise tax -$ -$ -$ -$ -$ -$ Other taxes -- --- -
Intergovernmental revenues -- --- -
Permits, licenses, and fees -- --- -
Fines and forfeitures 49,000 80,078 31,078 - - -
Special assessments -- --- -
Service fees -- --- -
Use of money and property 22 14 (8) 4,534 10,57 1 6,037 Other revenues -- --- -
Total revenues 49,022 80,092 31,070 4,534 10,571 6,037 EXPENDITURES:

Current:

General government -- --- -
Finance and services -- --- -
Community development and services -- --- -
Public safety - 34,808 (34,808) -- -
Public works - administration -- --- -
Public works - streets -- --- -
Capital outlay and improvements -- --- -
Debt service:

Principal retirement -- --- -
Interest and fiscal charges -- --- -
Total expenditures - 34,808 (34,808) - - -

REVENUES OVER (UNDER)
EXPENDITURES 49,022 45,284 (3,738) 4,534 10,571 6,037 OTHER FINANCING SOURCES (USES):

Transfers in -- --- -
Transfers out -- --- -
Total other financing sources (uses) - - - - - - Net change in fund balances 49,022$ 45,284 (3,738)$ 4,534$ 10,571 6,037$ FUND BALANCES:

Beginning of year, as previously presented 76,810 321,153 Restatement --
Beginning of year, as restated 76,810 321,153
End of year 122,094$ 331,724$

ASSETS SEIZURE MARINA VISTA FIELD REPLACEMENT

SPECIAL REVENUE
178
231
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$ - - - 1,211,720 1,247,435 35,715 - - -
85,777 64,235 (21,542) -- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
522 896 374 92,000 185,332 93,332 4,000 13,547 9,547
-- --- --- -
86,299 65,131 (21,168) 1,303,720 1,432,767 129,047 4,000 13,547 9,547 -- --- --- -
-- --- --- -
26,182 27,172 (990) 624,428 384,078 240,350 700,276 375,575 324,70 1 54,358 58,716 (4,358) -- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
80,540 85,888 (5,348) 624,428 384,078 240,350 700,276 375,575 324,701 5,759 (20,757) (26,516) 679,292 1,048,689 369,397 (696,276) (362,028) 334,248 - - - - - - 510,000 510,000 -
- - - (510,000 ) (510,000) -( 5 , 4 3 1 ) (5,431) -
- - - (510,000) (510,000) - 504,569 504,569 - 5,759$ (20,757) (26,516)$ 169,292$ 538,689 369,397$ (191,707)$ 142,541 334,248$ 20,614 6,434,964 316,882
---
20,614 6,434,964 316,882
(143)$ 6,973,653$ 459,423$

ENFORCEMENT BLOCK GRANT

SPECIAL REVENUE

GHAD II

LOCAL LAW SOUTHWEST PITTSBURG SOUTHWEST PITTSBURG

GHAD II ADMIN
179
232
City of Pittsburg
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Non-Major Governmental Funds
For the year ended June 30, 2024
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:

Franchise tax -$ -$ -$ -$ -$ -$ Other taxes 1,253,271 894,614 (358,657 ) -- -
Intergovernmental revenues - - - 468,750 473,860 5,110
Permits, licenses, and fees -- --- -
Fines and forfeitures -- --- -
Special assessments -- --- -
Service fees -- --- -
Use of money and property 1,730 - (1,730) 1,234 522 (712) Other revenues 1,512 (3,245 ) (4,757) -- -
Total revenues 1,256,513 891,369 (365,144) 469,984 474,382 4,398 EXPENDITURES:

Current:

General government -- --- -
Finance and services -- --- -
Community development and services 194,439 - 194,439 212,398 456,435 (244,037 ) Public safety - - - 117,033 131,862 (14,829)
Public works - administration 347,369 334,422 12,947 - - - Public works - streets 1,083,687 979,643 104,044 - - -
Capital outlay and improvements -- --- -
Debt service:

Principal retirement -- --- -
Interest and fiscal charges -- --- -
Total expenditures 1,625,495 1,314,065 311,430 329,431 588,297 (258,866)

REVENUES OVER (UNDER)
EXPENDITURES (368,982) (422,696) (53,714) 140,553 (113,915) (254,468) OTHER FINANCING SOURCES (USES):

Transfers in 215,000 215,000 - - - -
Transfers out (14,644) (14,644) -( 2 , 0 6 0 ) (2,060) - Total other financing sources (uses) 200,356 200,356 - (2,060) (2,060) - Net change in fund balances (168,626)$ (222,340) (53,714)$ 138,493$ (115,975) (254,468)$ FUND BALANCES:

Beginning of year, as previously presented 186,185 139,912 Restatement - 235,800
Beginning of year, as restated 186,185 375,712
End of year (36,155)$ 259,737$

STORM WATER HUD COMMUNITY DEVELOPMENT

SPECIAL REVENUE

BLOCK GRANTUTILITY NPDES
180
233
. Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$ -- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
688 1,603 915 4,392 9,447 5,055 - - -
-- --- --- -
688 1,603 915 4,392 9,447 5,055 - - - -- --- --- -
-- --- --- -
- - - 75,000 913 74,087 - - -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
- - - 75,000 913 74,087 - - - 688 1,603 915 (70,608) 8,534 79,142 - - - -- --- --- -
-- --- --- -
- - - - - - - - - 688$ 1,603 915$ (70,608)$ 8,534 79,142$ -$ - -$ 48,688 310,227 7
1,620,713 329,826 -
1,669,401 640,053 7
1,671,004$ 648,587$ 7$

NSP NEIGHBORHOOD

SPECIAL REVENUE

STABILIZATION PROGRAM CALHOME PROGRAM

CALIFORNIA ENERGY

CONSERVATION PROGRAM
181
234
City of Pittsburg
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Non-Major Governmental Funds
For the year ended June 30, 2024
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:

Franchise tax -$ -$ -$ -$ -$ -$ Other taxes -- --- -
Intergovernmental revenues - - - 573,288 222,344 (350,944 ) Permits, licenses, and fees - - - 750,000 822,795 72,795 Fines and forfeitures -- --- -
Special assessments 1,454,814 1,455,273 459 - - -
Service fees - - - 7,500 17,278 9,778
Use of money and property 3,364 6,17 1 2,807 13,516 31,530 18,014 Other revenues - - - 34,392 20,123 (14,269)
Total revenues 1,458,178 1,461,444 3,266 1,378,696 1,114,070 (264,626) EXPENDITURES:

Current:

General government -- --- -
Finance and services -- --- -
Community development and services - - - 741,484 467,298 274,186 Public safety 5,756 3,264 2,492 286,80 1 238,698 48,103 Public works - administration -- --- -
Public works - streets -- --- -
Capital outlay and improvements -- --- -
Debt service:

Principal retirement -- --- -
Interest and fiscal charges 5,000 7,12 1 (2,121) -- -
Total expenditures 10,756 10,385 371 1,028,285 705,996 322,289

REVENUES OVER (UNDER)
EXPENDITURES 1,447,422 1,451,059 3,637 350,411 408,074 57,663 OTHER FINANCING SOURCES (USES):

Transfers in -- --- -
Transfers out (1,701,250) (1,701,250) - (135,617 ) (135,617) - Total other financing sources (uses) (1,701,250) (1,701,250) - (135,617) (135,617) - Net change in fund balances (253,828)$ (250,191) 3,637$ 214,794$ 272,457 57,663$ FUND BALANCES:

Beginning of year, as previously presented 261,047 1,056,868 Restatement --
Beginning of year, as restated 261,047 1,056,868
End of year 10,856$ 1,329,325$

SPECIAL REVENUE
SAN MARCO CFD 2004-1 SOLID WASTE
182
235
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$ 425,413 425,413 - 1,042,698 1,043,693 995 - - -
- - - - - - 25,000 33,379 8,379
-- --- --- -
-- --- --- -
- - - - - - 157,785 161,307 3,522
-- --- --- -
350 634 284 3,662 5,565 1,903 4,950 13,889 8,939
-- --- --- -
425,763 426,047 284 1,046,360 1,049,258 2,898 187,735 208,575 20,840 -- --- --- -
-- --- --- -
-- --- --- -
691 690 1 978 1,042 (64) -- -
-- --- --- -
- - - - - - 68,545 57,829 10,716
-- --- --- -
-- --- --- -
- - - 4,400 7,663 (3,263) 6,000 7,993 (1,993)
691 690 1 5,378 8,705 (3,327) 74,545 65,822 8,723 425,072 425,357 285 1,040,982 1,040,553 (429) 113,190 142,753 29,563 -- --- --- -
(453,000) (453,000) - (1,275,000 ) (1,275,000) -( 9 3 6 ) (936) - (453,000) (453,000) - (1,275,000) (1,275,000) - (936) (936) - (27,928)$ (27,643) 285$ (234,018)$ (234,447) (429)$ 112,254$ 141,817 29,563$ 28,705 240,502 402,109
---
28,705 240,502 402,109
1,062$ 6,055$ 543,926$

SPECIAL REVENUE
PARK MAINTENANCE CFD 2007-1PUBLIC SAFETY CFD 2005-1VISTA DEL MAR CFD 2005-2 183
236
City of Pittsburg
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Non-Major Governmental Funds
For the year ended June 30, 2024
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:

Franchise tax -$ -$ -$ -$ -$ -$ Other taxes -- --- -
Intergovernmental revenues 30,000 28,384 (1,616) 36,000 - (36,000) Permits, licenses, and fees -- --- -
Fines and forfeitures -- --- -
Special assessments -- --- -
Service fees - - - 20,267 10,788 (9,479)
Use of money and property - - - 9,320 17,359 8,039
Other revenues - - - 508,699 568,90 1 60,202
Total revenues 30,000 28,384 (1,616) 574,286 597,048 22,762 EXPENDITURES:

Current:

General government -- --- -
Finance and services -- --- -
Community development and services - - - 573,573 528,664 44,909 Public safety -- --- -
Public works - administration -- --- -
Public works - streets -- --- -
Capital outlay and improvements -- --- -
Debt service:

Principal retirement - - - - 77,819 (77,819)
Interest and fiscal charges - - - - 21,807 (21,807)
Total expenditures - - - 573,573 628,290 (54,717)

REVENUES OVER (UNDER)
EXPENDITURES 30,000 28,384 (1,616) 713 (31,242) (31,955) OTHER FINANCING SOURCES (USES):

Transfers in -- --- -
Transfers out (30,000) (28,384) 1,616 - - -
Total other financing sources (uses) (30,000) (28,384) 1,616 - - - Net change in fund balances -$ - -$ 713$ (31,242) (31,955)$ FUND BALANCES:

Beginning of year, as previously presented - 589,874
Restatement --
Beginning of year, as restated - 589,874
End of year -$ 558,632$

SPECIAL REVENUE

COPS HIRING RECOVERY

PITTSBURG ARTS &

COMMUNITY FOUNDATION
184
237
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ 155,000$ 128,224$ (26,776)$ -$ -$ -$ -- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
- - - - - - - 1,609 1,609
-- --- --- -
6,050 14,105 8,055 8,560 21,837 13,277 - 3,836 3,836
-- --- --- -
6,050 14,105 8,055 163,560 150,061 (13,499) - 5,445 5,445 -- --- --- -
-- --- --- -
- - - 500,000 35,194 464,806 - - -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
- - - - - - - 124,58 1 (124,581)
- - - 500,000 35,194 464,806 - 124,581 (124,581) 6,050 14,105 8,055 (336,440) 114,867 451,307 - (119,136) (119,136) -- --- --- -
-- --- --- -
- - - - - - - - - 6,050$ 14,105 8,055$ (336,440)$ 114,867 451,307$ -$ (119,136) (119,136)$ 428,539 631,106 (3,056,638)
---
428,539 631,106 (3,056,638)
442,644$ 745,973$ (3,175,774)$

SPECIAL REVENUE

RAILROAD AVENUE

SPECIFIC AREA PLAN
HILLVIEW JR. HIGH

ATHLETIC FIELD

PUBLIC, EDUCATION, AND

GOVERNMENT FEES (PEG)
185
238
City of Pittsburg
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Non-Major Governmental Funds
For the year ended June 30, 2024
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:

Franchise tax -$ -$ -$ -$ -$ -$ Other taxes -- --- -
Intergovernmental revenues -- --- -
Permits, licenses, and fees -- --- -
Fines and forfeitures -- --- -
Special assessments 56,405 56,424 19 38,427 72,042 33,615 Service fees -- --- -
Use of money and property 2,376 4,944 2,568 694 3,186 2,492 Other revenues -- --- -
Total revenues 58,781 61,368 2,587 39,121 75,228 36,107 EXPENDITURES:

Current:

General government -- --- -
Finance and services -- --- -
Community development and services 3,604 6,419 (2,815) 3,242 4,533 (1,291) Public safety -- --- -
Public works - administration -- --- -
Public works - streets -- --- -
Capital outlay and improvements -- --- -
Debt service:

Principal retirement -- --- -
Interest and fiscal charges -- --- -
Total expenditures 3,604 6,419 (2,815) 3,242 4,533 (1,291)

REVENUES OVER (UNDER)
EXPENDITURES 55,177 54,949 (228) 35,879 70,695 34,816 OTHER FINANCING SOURCES (USES):

Transfers in -- --- -
Transfers out (115,000) (115,000) --- -
Total other financing sources (uses) (115,000) (115,000) - - - - Net change in fund balances (59,823)$ (60,051) (228)$ 35,879$ 70,695 34,816$ FUND BALANCES:

Beginning of year, as previously presented 167,325 70,662 Restatement --
Beginning of year, as restated 167,325 70,662
End of year 107,274$ 141,357$
PROJECT AMENITIES MANAGEMENT FIRE DISTRICT CFD 2017-01

SPECIAL REVENUE
186
239
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$ -- --- --- -
- - - 439,448 643,83 1 204,383 - - -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
- - - 37,496 35,15 1 (2,345) - 7,890 7,890
-- --- --- -
- - - 476,944 678,982 202,038 - 7,890 7,890 -- --- --- -
-- --- --- -
- - - 759,39 1 700,253 59,138 - - -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
- - - 759,391 700,253 59,138 - - - - - - (282,447) (21,271) 261,176 - 7,890 7,890 1,600 1,600 - 330,000 330,000 - - - -
- - - (1,500,000 ) (1,500,000) --- -
1,600 1,600 - (1,170,000) (1,170,000) - - - - 1,600$ 1,600 -$ (1,452,447)$ (1,191,271) 261,176$ -$ 7,890 7,890$ (376,563) 2,722,355 239,708
---
(376,563) 2,722,355 239,708
(374,963)$ 1,531,084$ 247,598$

MARINA DREDGING

US EPA GRANT INFRASTRUCTURE & IMPROVEMENT

SPECIAL REVENUE

GOLF COURSE
187
240
City of Pittsburg
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Non-Major Governmental Funds
For the year ended June 30, 2024
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:

Franchise tax -$ -$ -$ -$ -$ -$ Other taxes -- --- -
Intergovernmental revenues -- --- -
Permits, licenses, and fees -- --- -
Fines and forfeitures -- --- -
Special assessments -- --- -
Service fees - - - 4,579,105 4,570,963 (8,142)
Use of money and property 342 789 447 100 142,88 1 142,781 Other revenues -- --- -
Total revenues 342 789 447 4,579,205 4,713,844 134,639 EXPENDITURES:

Current:

General government -1 , 0 6 1 (1,061) -- -
Finance and services - - - 310,492 281,212 29,280
Community development and services -- --- -
Public safety -- --- -
Public works - administration -- --- -
Public works - streets -- --- -
Capital outlay and improvements -- --- -
Debt service:

Principal retirement - - - 2,650,000 2,650,000 -
Interest and fiscal charges - - - 1,618,713 1,696,993 (78,280) Total expenditures - 1,061 (1,061) 4,579,205 4,628,205 (49,000)

REVENUES OVER (UNDER)
EXPENDITURES 342 (272) (614) - 85,639 85,639 OTHER FINANCING SOURCES (USES):

Transfers in -- --- -
Transfers out -- --- -
Total other financing sources (uses) - - - - - - Net change in fund balances 342$ (272) (614)$ -$ 85,639 85,639$ FUND BALANCES:

Beginning of year, as previously presented 24,177 3,375,868 Restatement --
Beginning of year, as restated 24,177 3,375,868
End of year 23,905$ 3,461,507$

TUSCANY
MEADOWS CFD 2021-1 PENSION OBLIGATIONS

SPECIAL REVENUE DEBT SERVICE FUND
188
241
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$ -- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
558 1,303 745 12,000 17,673 5,673 8,000 12,183 4,183
-- --- --- -
558 1,303 745 12,000 17,673 5,673 8,000 12,183 4,183 -- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
- - - - - - - - - 558 1,303 745 12,000 17,673 5,673 8,000 12,183 4,183 -- --- --- -
-- --- --- -
- - - - - - - - - 558$ 1,303 745$ 12,000$ 17,673 5,673$ 8,000$ 12,183 4,183$ 419,568 536,952 370,145
---
419,568 536,952 370,145
420,871$ 554,625$ 382,328$

KIRKER CREEK DRAINAGE FEESINCLUSIONARY HOUSING

CAPITAL PROJECTS

TRAFFIC IMPACT FAIR SHARE
189
242
City of Pittsburg
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Non-Major Governmental Funds
For the year ended June 30, 2024
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:

Franchise tax -$ -$ -$ -$ -$ -$ Other taxes -- - -- -
Intergovernmental revenues - - - 10,759,040 3,139,437 (7,619,603 ) Permits, licenses, and fees 913,207 475,51 1 (437,696) -- - Fines and forfeitures -- - -- -
Special assessments -- - -- -
Service fees -- - -- -
Use of money and property 120,081 185,414 65,333 101,099 483,237 382,138 Other revenues 3,863,244 6,768 (3,856,476 ) 101,100 418,675 317,575 Total revenues 4,896,532 667,693 (4,228,839) 10,961,239 4,041,349 (6,919,890) EXPENDITURES:

Current:

General government -- - -- -
Finance and services -- - -- -
Community development and services -- - -- -
Public safety -- - -- -
Public works - administration -- - -- -
Public works - streets -- - -- -
Capital outlay and improvements - 79,223 (79,223) - 9,872,720 (9,872,720 ) Debt service:

Principal retirement -- - -- -
Interest and fiscal charges -- - -- -
Total expenditures - 79,223 (79,223) - 9,872,720 (9,872,720)

REVENUES OVER (UNDER)
EXPENDITURES 4,896,532 588,470 (4,308,062) 10,961,239 (5,831,371) (16,792,610) OTHER FINANCING SOURCES (USES):

Transfers in - - - 13,213,562 15,522,005 2,308,443
Transfers out (2,925,000) (2,925,000) - (2,639,096 ) (2,639,096) - Total other financing sources (uses) (2,925,000) (2,925,000) - 10,574,466 12,882,909 2,308,443 Net change in fund balances 1,971,532$ (2,336,530) (4,308,062)$ 21,535,705$ 7,051,538 (14,484,167)$ FUND BALANCES:

Beginning of year, as previously presented 6,400,478 11,290,969 Restatement --
Beginning of year, as restated 6,400,478 11,290,969
End of year 4,063,948$ 18,342,507$

CAPITAL IMPROVEMENT

CAPITAL PROJECTS

TRAFFIC MITIGATION
190
243
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$ -- --- --- -
-- --- --- -
288,042 265,906 (22,136) -- --- -
-- --- --- -
-- --- --- -
-- --- --- -
60,000 167,524 107,524 10,000 139,713 129,713 600 681 81 -- --- --- -
348,042 433,430 85,388 10,000 139,713 129,713 600 681 81 -- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
- 1,204,663 (1,204,663 ) -- --- -
-
- - - - - - - 30,000 (30,000)
-- --- --- -
- 1,204,663 (1,204,663) - - - - 30,000 (30,000) 348,042 (771,233) (1,119,275) 10,000 139,713 129,713 600 (29,319) (29,919) 3,607,811 9,686,099 6,078,288 - - - - - -
(6,228,288) (6,228,288) --- --- -
(2,620,477) 3,457,811 6,078,288 - - - - - - (2,272,435)$ 2,686,578 4,959,013$ 10,000$ 139,713 129,713$ 600$ (29,319) (29,919)$ 2,220,952 3,632,176 30,413
---
2,220,952 3,632,176 30,413
4,907,530$ 3,771,889$ 1,094$

CAPITAL PROJECTS

REGIONAL TRAFFIC MITIGATION REPAIR & REPLACEMENTPARK DEDICATION

INFRASTRUCTURE
191
244
City of Pittsburg
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Non-Major Governmental Funds
For the year ended June 30, 2024
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:

Franchise tax -$ -$ -$ -$ -$ -$ Other taxes -- --- -
Intergovernmental revenues -- --- -
Permits, licenses, and fees - - - 230,000 229,99 1 (9)
Fines and forfeitures -- --- -
Special assessments -- --- -
Service fees -- --- -
Use of money and property 9,500 15,760 6,260 38,000 66,50 1 28,501 Other revenues -- --- -
Total revenues 9,500 15,760 6,260 268,000 296,492 28,492 EXPENDITURES:

Current:

General government -- --- -
Finance and services -- --- -
Community development and services 289,053 47,636 241,417 - - - Public safety -- --- -
Public works - administration -- --- -
Public works - streets -- --- -
Capital outlay and improvements -- --- -
Debt service:

Principal retirement -- --- -
Interest and fiscal charges -- --- -
Total expenditures 289,053 47,636 241,417 - - -

REVENUES OVER (UNDER)
EXPENDITURES (279,553) (31,876) 247,677 268,000 296,492 28,492 OTHER FINANCING SOURCES (USES):

Transfers in 75,000 75,000 - - - -
Transfers out -- --- -
Total other financing sources (uses) 75,000 75,000 - - - - Net change in fund balances (204,553)$ 43,124 247,677$ 268,000$ 296,492 28,492$ FUND BALANCES:

Beginning of year, as previously presented 412,660 1,878,018 Restatement --
Beginning of year, as restated 412,660 1,878,018
End of year 455,784$ 2,174,510$

COMMUNITY

CAPITAL PROJECTS

CAPITAL IMPROVEMENT BAILEY ROAD MAINTENANCE
192
245
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$ -- --- --- -
5,213,866 3,940,915 (1,272,951 ) -- --- -
-- --- --- -
-- --- --- -
-- --- --- -
-- --- --- -
33,682 55,907 22,225 - - - - - -
- - - 33,860 116,44 1 82,581 - 147,75 1 147,751
5,247,548 3,996,822 (1,250,726) 33,860 116,441 82,581 - 147,751 147,751 -- --- --- -
-- --- --- -
- - - - - - - 401,148 (401,148 )
- - - 132,595 22,850 109,745 - - -
-- --- --- -
1,054,705 3,707,857 (2,653,152 ) -- --- -
-- --- --- -
-- --- --- -
-- --- --- -
1,054,705 3,707,857 (2,653,152) 132,595 22,850 109,745 - 401,148 (401,148) 4,192,843 288,965 (3,903,878) (98,735) 93,591 192,326 - (253,397) (253,397) 251,700 956,626 704,926 - - - - - -
(3,832,000) (3,832,000) --- --- -
(3,580,300) (2,875,374) 704,926 - - - - - - 612,543$ (2,586,409) (3,198,952)$ (98,735)$ 93,591 192,326$ -$ (253,397) (253,397)$ 3,328,619 (134,366) -
---
3,328,619 (134,366) -
742,210$ (40,775)$ (253,397)$

CAPITAL PROJECTS

DEVELOPER DEPOSIT

GAS TAX-ROAD

REGIONAL FREEWAY SECURITY FEEMAINTENANCE AND REHABILITATION 193
246

This Page Intentionally Left Blank
194
247
City of Pittsburg
Internal Service Funds
For the Year Ended June 30, 2024
Internal service funds are used to account for the financing of goods or services provided by one department or agency to other departments or agencies of the government and to other government units, on a reimbursement basis. There are seven funds as follows:

Fleet Maintenance Fund
Used t o account fo r the cost s of operatin g, maintainin g,a n dr e p l a c i ng automotive equipment used b y other departments. Rental rates charged to the using departments include operating costs and equipment depreciation.

Building Maintenance Fund
Used to account for the cost of maintaining all City governmental buildings.

Insurance Fund
Used to account for revenues from charges to operating departments sufficient to provide adequate reserve for future claims.

Information/Communication Services Fund
Used to account for the cost of operatin g, maintaining and replacing a data processing system. Rental rates charged to the using departments include operating cost and equipment depreciation.

Fringe Benefits Fund
Used to allocate fringe costs to various departments.

Other Post-Employment Benefits (OPEB) Fund
Used to reduce unfunded OPEB liabilities and to pay the City’s portion of current year retiree medical expenses. 115 Pension Trust Reserve Fund
Used to accumulate funds to pay down CalPERS Unfunded Accrued Liability. 195
248
City of Pittsburg
Combining Statement of Net Position
Internal Service Funds
June 30, 2024
ASSETS
Current Assets:

Cash and investments 3,035,455$ 1,264,660$ 1,226,371$ 1,602,501$ Restricted cash and investments - - - - Receivables:

Accounts 2,545 38,267 - - Inventory 6,170 15,725 - 405,284 Prepaid items and other assets 1,160 193 - - Total current assets 3,045,330 1,318,845 1,226,371 2,007,785 Noncurrent:

Capital assets:

Depreciable capital assets 8,216,899 3,820,077 - 1,674,827 Accumulated depreciation (6,704,969) (3,445,351) - (1,581,826) Net capital assets 1,511,930 374,726 - 93,001 Total noncurrent assets 1,511,930 374,726 - 93,001 Total assets 4,557,260 1,693,571 1,226,371 2,100,786

LIABILITIES
Current liabilities:

Accounts payable 222,917 86,210 16,687 17,133 Salaries payable - - - - Due to other funds - - - - Compensated absences - current 46,576 41,737 - 53,139 Claims payable - current - - 109,700 - Long-term debt - current portion 91,970 21,329 - - Total current liabilities 361,463 149,276 126,387 70,272 Noncurrent liabilities:

Advances from other funds - 53,670 - - Compensated absences 15,525 13,912 - 17,713 Claims payable - - 7,465 - Long-term debt - 60,439 - - Total noncurrent liabilities 15,525 128,021 7,465 17,713 Total liabilities 376,988 277,297 133,852 87,985

NET POSITION
Net investment in capital assets 1,419,960 292,958 - 93,001 Restricted - - - - Unrestricted 2,760,312 1,123,316 1,092,519 1,919,800 Total net position 4,180,272$ 1,416,274$ 1,092,519$ 2,012,801$ Fleet
Maintenance
Information/
Communication
ServicesInsurance
Building
Maintenance
196
249
Totals
1,048,238$ 167,957$ (966)$ 8,344,216$ - - 3,772,834 3,772,834 25 1,846 - 42,683 - - - 427,179 1,750 34,337 - 37,440 1,050,013 204,140 3,771,868 12,624,352 - - - 13,711,803 - - - (11,732,146) - - - 1,979,657 - - - 1,979,657 1,050,013 204,140 3,771,868 14,604,009 (3,723) 3,645 - 342,869 464,271 (641) (31) 463,599 - 966 - 966 - - - 141,452 - - - 109,700 - - - 113,299 460,548 3,970 (31) 1,171,885 - - - 53,670 - - - 47,150 - - - 7,465 - - - 60,439 - - - 168,724 460,548 3,970 (31) 1,340,609 - - - 1,805,919 - - 3,772,834 3,772,834 589,465 200,170 (935) 7,684,647 589,465$ 200,170$ 3,771,899$ 13,263,400$ 115 Pension
Trust Reserve
Other Post-
Employment
Benefits (OPEB)Fringe Benefits
197
250
City of Pittsburg
Combining Statement of Revenues, Expenses and Changes in Net Position Internal Service Funds
For the year ended June 30, 2024
OPERATING REVENUES:

Charges for services 2,623,039$ 3,091,474$ 2,985,167$ 3,555,687$ Other fees 416 - - -
Other operating revenues 56,399 187,692 - 100,000
Total operating revenues 2,679,854 3,279,166 2,985,167 3,655,687 OPERATING EXPENSES:

Salaries and wages 346,006 423,754 - 645,959
Department supplies 1,079,790 238,545 - 27,011
Rentals 43,949 1,544 - -
Utilities 13,533 521,666 - -
Maintenance and operations 543,567 696,449 - 527,657
Depreciation and amortization 604,900 35,812 - 59,483
Insurance premiums 63,079 569,468 2,777,048 26,887
Insurance deductible 27,699 32,222 79,664 53,872
Fringe benefits 279,714 370,338 - 444,257
Other operating expenses 14,764 12,034 - 8,696
Total operating expenses 3,017,001 2,901,832 2,856,712 1,793,822 Operating income (loss) (337,147) 377,334 128,455 1,861,865 NONOPERATING REVENUES (EXPENSES):

Investment earnings --- -
Gain on disposal of assets 198,850 - - -
Interest and fiscal charges (Prop Funds) (9,658) 11,423 - - Total nonoperating revenues (expenses) 189,192 11,423 - - Income before contributions and transfers (147,955) 388,75 7 128,455 1,861,865 CONTRIBUTIONS AND TRANSFERS:

Transfers in 295,000 20,000 - 9,280
Transfers out (13,296) (15,917) - (1,600,000)
Total contributions and transfers 281,704 4,083 - (1,590,720) Change in net position 133,749 392,840 128,455 271,145
NET POSITION:

Beginning of year 4,046,523 1,023,434 964,064 1,741,656 End of year 4,180,272$ 1,416,274$ 1,092,519$ 2,012,801$ Fleet
Maintenance
Building
Maintenance Insurance
Information/
Communication
Services
198
251
Totals
3,459,024$ 1,796,068$ 573,720$ 18,084,179$ --- 4 16
53,744 - - 397,835
3,512,768 1,796,068 573,720 18,482,430
- - - 1,415,719
- - - 1,345,346
- - - 45,493
- - - 535,199
13,684 21,548 - 1,802,905
- - - 700,195
- - - 3,436,482
- - - 193,457
3,138,905 2,404,083 - 6,637,297
- - 17,678 53,172
3,152,589 2,425,631 17,678 16,165,265
360,179 (629,563) 556,042 2,317,165
- - 270,299 270,299
- - - 198,850
--- 1 ,765
- - 270,299 470,914
360,179 (629,563) 826,341 2,788,079
- 500,000 - 824,280
--- ( 1,629,213)
- 500,000 - (804,933)
360,179 (129,563) 826,341 1,983,146
229,286 329,733 2,945,558 11,280,254
589,465$ 200,170$ 3,771,899$ 13,263,400$ 115 Pension
Trust ReserveFringe Benefits
Other Post-
Employment
Benefits (OPEB)
199
252
City of Pittsburg
Combining Statement of Cash Flows
Internal Service Funds
For the year ended June 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers and users 2,634,406$ 3,058,685$ 2,985,167$ 3,555,687$ Cash payments to suppliers of goods and services (1,650,454) (2,094,886) (2,841,211) (680,601) Cash payments to or on behalf of employees for services (619,875) (798,193) - (1,086,636) Other operating revenues 56,815 187,692 - 100,000 Net cash provided by (used in) operating activities 420,892 353,298 143,956 1,888,450 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:

Interfund payments - (26,238) - - Transfers in 295,000 20,000 - 9,280 Transfers out (13,296) (15,917) - (1,600,000) Net cash provided by (used in)
noncapital financing activities 281,704 (22,155) - (1,590,720) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:

Principal paid on long-term debt (294,907) (21,330) - - Interest and fiscal charges paid on long-term debt (9,658) 11,423 - - Proceeds from sale of capital assets 198,850 - - - Acquisition of capital assets (527,477) - - (11,568) Net cash provided by (used in)
capital and related financing activities (633,192) (9,907) - (11,568) CASH FLOWS FROM INVESTING ACTIVITIES:

Interest on and changes in market value of investments - - - - Net cash provided by (used in) investing activities - - - - Net cash flows 69,404 321,236 143,956 286,162 CASH AND INVESTMENTS - Beginning of year 2,966,051 943,424 1,082,415 1,316,339 CASH AND INVESTMENTS - End of year 3,035,455$ 1,264,660$ 1,226,371$ 1,602,501$

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:

Operating income (loss) (337,147)$ 377,334$ 128,455$ 1,861,865$ Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities:

Depreciation 604,900 35,812 - 59,483 (Increase) decrease in accounts receivable 11,367 (32,789) - - (Increase) decrease in inventory 10,000 - - - (Increase) decrease in prepaid expense (1,980) (2) - 3,575 Increase (decrease) in accounts payable 127,907 (22,956) 8,036 (40,053) Increase (decrease) in salaries and wages payable - - - - Increase (decrease) in compensated absences 5,845 (4,101) - 3,580 Increase (decrease) in claims payable - - 7,465 - Net cash provided by (used in) operating activities 420,892$ 353,298$ 143,956$ 1,888,450$ Insurance
Building
Maintenance
Fleet
Maintenance
Information/
Communication
Services
200
253
Totals
3,458,970$ 1,794,222$ 573,720$ 18,060,857$ (19,157) (53,022) (17,678) (7,357,009) (3,521,600) (2,404,724) 6 (8,431,022) 53,744 - - 398,251 (28,043) (663,524) 556,048 2,671,077 - 966 (972) (26,244) - 500,000 - 824,280 - - - (1,629,213) - 500,966 (972) (831,177) - - - (316,237) - - - 1,765 - - - 198,850 - - - (539,045) - - - (654,667) - - 270,299 270,299 - - 270,299 270,299 (28,043) (162,558) 825,375 1,455,532 1,076,281 330,515 2,946,493 10,661,518 1,048,238$ 167,957$ 3,771,868$ 12,117,050$ 360,179$ (629,563)$ 556,042$ 2,317,165$ - - - 700,195 (54) (1,846) - (23,322) - - - 10,000 (1,750) (34,337) - (34,494) (3,723) 2,863 - 72,074 (382,695) (641) 6 (383,330) - - - 5,324 - - - 7,465 (28,043)$ (663,524)$ 556,048$ 2,671,077$ 115 Pension Trust
Reserve
Other Post-
Employment
Benefits (OPEB)Fringe Benefits
201
254

This Page Intentionally Left Blank
202
255
City of Pittsburg
Custodial Funds
For the Year Ended June 30, 2024
Custodial Funds are used to report resources, not in a trust, that are held by the City for other parties outside of the City’s reporting entity.

Assessment Districts Custodial Fund
accounts for the collection of property taxes and the payments to bondholders.

Other Impact Fees Custodial Fund
accounts for the collection of developer fees on behalf of the Contra Costa Fire Protection District (CCFPD), Contra Costa Water District (CCWD) and the East Contra Costa Regional Fee and Finance Authority (ECCRFF).

Vista Del Mar & San Marco CFD’s Custodial Fund
accounts for funds used to construct and acquire certain public improvements, consisting of roadway, water and other infrastructure improvements necessary for the development of property within the district, as well as park improvements.
203
256
City of Pittsburg
Combining Statement of Fiduciary Net Position
Custodial Funds
For the year ended June 30, 2024
Total
Custodial
Funds
ASSETS
Cash and investments 887,753$ 140,056$ 4,471,313$ 5,499,122$ Cash and investments held with fiscal agent 702,816 - 821,888 1,524,704 Assessment receivable 808,795 - - 808,795 Total assets 2,399,364 140,056 5,293,201 7,832,621

LIABILITIES
Accounts payable 28,280 11,005 55 39,340 Deferred assessments 808,795 34,359 843,154 Total liabilities 837,075 45,364 55 882,494

NET POSITION
Restricted for bondholders 1,562,289 94,692 5,293,146 6,950,127 Total Net Position 1,562,289$ 94,692$ 5,293,146$ 6,950,127$ Assessment
Districts
Other Impact
Fees
Vista Del Mar &
San Marco
CFD’s
204
257
City of Pittsburg
Combining Statement of Changes in Fiduciary Net Position Custodial Funds
For the year ended June 30, 2024
Total
Custodial
Funds
ADDITIONS:

Property tax and special assessments 988,101$ -$ 2,503,889$ 3,491,990$ Use of money and property 41,774 20,873 133,918 196,565 Total additions 1,029,875 20,873 2,637,807 3,688,555
DEDUCTIONS:

General administration 71,189 - 19,269 90,458 Payment to bond holders 940,196 - 708,469 1,648,665 Total deductions 1,011,385 - 727,738 1,739,123 Change in net position 18,490 20,873 1,910,069 1,949,432 NET POSITION:

Beginning of year 1,543,799 73,819 3,383,077 5,000,695 End of year 1,562,289$ 94,692$ 5,293,146$ 6,950,127$ Assessment
Districts
Other Impact
Fees
Vista Del Mar &
San Marco
CFD’s
205
258

This Page Intentionally Left Blank
206
259
The major points of emphasis are:

Financial Trends
Revenue Capacity
Debt Capacity
Demographic and Economic Information
Operating Information
*Due to the State of California's adoption of ABx1 26 on June 28, 2011, and amended by AB1484 on June 27, 2012, which suspended all new redvelopment activities except for limited specified activities as of that date and and dissolves redevelopment agencies as of January 31, 2012, there will be large variances between the fiscal years 2010-2011 and fiscal year 2011-2012 for some of the statistical references. The City of Pittsburg has assumed the responsibiities as the Sucessor Agency to administer all post activies for the former Pittsburg Redevelopment Agency.

These schedules offer demographic and economic indications to help the ACFR reader understand the environment within which the City of Pittsburg's financial activities occur.

These schedules contain information about the City of Pittsburg's operations and resources to help the ACFR reader understand how the City's financial information relates to the services the City provides and the activities it performs.

STATISTICAL SECTION
This part of the City of Pittsburg's annual comprehensive financial report presents detailed information in a statistical format as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information is conveying about the City of Pittsburg's overall financial status.

These schedules contain trend information to help the ACFR reader understand how the City of Pittsburg's financial performance and economic status have changed over time.

These schedules contain information to help the ACFR reader evaluate factors affecting the City of Pittsburg's ability to generate its property and sales taxes and other major revenues.

These schedules present information to help the ACFR reader assess the affordability of the City of Pittsburg's current levels of outstanding debt and the City's ability to issue additional debt in the future. 207
260
2015** 2016 2017 2018*** 2019 2020 2021 2022**** 2023***** 2024***** Governmental activities
Net Investment in
Capital Assets 268,580,073$ 255,982,568$ 253,993,565$ 249,540,604$ 248,811,743$ 242,952,736$ 238,477,548$ 235,352,441$ 230,934,582$ 214,480,492$ Restricted 27,662,593 27,990,550 24,280,860 21,203,698 27,518,072 35,381,734 20,474,166 24,153,450 30,664,190 71,872,807 Unrestricted (37,752,882) (39,107,180) (33,347,842) (34,066,754) (38,084,770) (46,713,289) (16,609,185) (10,047,468) 5,838,022 (25,052,17 0) Total governmental activities net position 258,489,784$ 244,865,938$ 244,926,583$ 236,677,548$ 238,245,045$ 231,621,181$ 242,342,529$ 249,458,423$ 267,436,794$ 261,301,129$ Business-type activities
Net Investment in
Capital Assets 84,084,664$ 90,569,824$ 101,088,405$ 105,621,313$ 108,577,637$ 111,213,656$ 121,335,984$ 125,448,931$ 129,088,788$ 135,205,947$ Restricted 39,342,518 45,659,407 28,553,531 25,743,990 33,305,962 34,914,919 31,637,948 33,206,836 82,586,630 88,738,207 Unrestricted 1,768,289 (6,475,018) 659,892 2,189,756 535,206 3,824,766 6,923,141 10,154,829 (35,943,737) (40,402,416) Total business-type activities net position 125,195,471$ 129,754,213$ 130,301,828$ 133,555,059$ 142,418,805$ 149,953,341$ 159,897,073$ 168,810,596$ 175,731,681$ 183,541,738$ Primary government
Net Investment in
Capital Assets 352,664,737$ 346,552,392$ 355,081,970$ 355,161,917$ 357,389,380$ 354,166,392$ 359,813,532$ 360,801,372$ 360,023,370$ 349,686,439$ Restricted 67,005,111 73,649,957 52,834,391 46,947,688 60,824,034 70,296,653 52,112,114 57,360,286 113,250,820 160,611,014 Unrestricted (35,984,593) (45,582,198) (32,687,950) (31,876,998) (37,549,564) (42,888,523) (9,686,044) 107,361 (30,105,715) (65,454,586) Total primary government net position 383,685,255$ 374,620,151$ 375,228,411$ 370,232,607$ 380,663,850$ 381,574,522$ 402,239,602$ 418,269,019$ 443,168,475$ 444,842,867$ ** FY 2014-15, The City adopted GASB 68 and 71. See FY 2014-15 Note 11 for details. *** FY 2017-18, The City adopted GASB 75. See FY 2017-18 Note 12 for details. **** FY 2021-22, The City adopted GASB 87. See FY 2021-22 Note 4 for details. ***** FY 2022-23, The City adopted GASB 96. See FY 2022-23 Note 4 for details. ****** FY 2023-24, The City adopted GASB 100. See FY 2023-24 Note 16 for details.

CITY OF PITTSBURG
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
$(100)
$-
$100
$200
$300
$400
$500
$600
2015** 2016 2017 2018*** 2019 2020 2021 2022**** 2023***** 2024***** Unrestricted
Restricted
Net of Related Debt
208
261
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Expenses
Governmental Activities:

General Government 10,232,271$ 8,089,040$ 6,933,634$ 7,743,300$ 7,382,598$ 7,496,883$ 7,962,196$ 8,332,916$ 8,465,919$ 9,619,407$ Public Safety 24,833,843 26,746,601 25,990,472 28,241,337 30,371,957 34,581,759 32,746,859 29,208,631 34,581,128 38,623,313 Public Works 18,213,277 19,237,901 15,776,982 14,832,846 14,998,964 16,632,134 16,286,229 14,071,228 18,364,834 19,895,229 Community Development 21,998,387 23,752,847 23,263,875 25,907,831 26,927,327 26,825,797 31,619,115 33,049,148 33,336,147 42,770,732 Culture and Recreation 862,068 1,012,670 1,019,460 1,238,030 1,206,786 1,259,446 973,336 1,513,337 2,318,079 2,738,279 Interest on Long Term Debt 4,074,415 4,476,644 4,378,265 4,031,806 3,374,537 4,354,271 3,361,276 3,739,936 3,285,129 3,400,488 Total Governmental Activities Expenses 80,214,261 83,315,703 77,362,688 81,995,150 84,262,169 91,150,290 92,949,011 89,915,196 100,351,236 117,047,448 Business-Type Activities:

Water 17,477,524 18,552,726 25,929,659 18,728,126 18,893,219 20,348,775 21,084,939 20,438,566 24,392,880 27,213,486 Wastewater 2,264,022 2,583,101 3,176,015 3,027,448 3,175,703 2,931,682 3,019,946 3,002,251 3,403,437 3,698,845 Marina 2,352,274 2,424,083 2,471,440 2,369,801 2,484,823 2,548,501 2,783,372 2,673,031 2,859,776 3,377,714 Pittsburg Power* 6,670,282 6,597,065 6,569,528 6,947,359 7,502,071 7,701,669 8,492,592 9,088,956 12,236,327 10,246,083 Other-Non-Major Enterprise Funds 750,765 972,469 1,512,250 1,405,996 1,216,482 1,459,490 1,343,580 486,519 737,886 716,491 Total Business-Type Activities Expenses 29,514,867 31,129,444 39,658,892 32,478,730 33,272,298 34,990,117 36,724,429 35,689,323 43,630,306 45,252,619 Total Primary Government Expenses 109,729,128$ 114,445,147$ 117,021,580$ 114,473,880$ 117,534,467$ 126,140,407$ 129,673,440$ 125,604,519$ 143,981,542$ 162,300,067$ Program Revenues
Governmental Activities:

Charges for Services:

General Government 7,595,331$ 7,331,129$ 7,079,265$ 6,944,075$ 8,334,058$ 8,384,133$ 8,692,831$ 9,785,320$ 10,822,092$ 12,851,334$ Public Safety 1,206,225 1,472,062 1,793,282 3,333,157 3,926,464 3,031,297 2,242,981 2,238,825 2,195,555 2,025,303 Public Works 524,555 772,724 668,273 768,170 2,114,166 2,043,942 4,224,955 4,769,838 3,543,685 3,756,652 Community Development 4,685,299 7,203,571 5,989,087 5,599,140 6,691,251 5,111,318 9,993,907 15,942,608 15,856,337 16,436,163 Culture and Recreation 733,235 834,970 911,855 990,982 972,829 972,829 825,802 1,410,536 1,517,661 0 Operating Grants and Contributions 12,699,542 13,641,846 18,154,961 17,924,456 19,071,198 18,031,974 20,512,898 21,201,189 34,424,337 31,552,107 Capital Grants and Contributions 48,709 545,127 3,705,925 1,132,855 897,177 822,332 1,442,355 1,332,359 1,800,489 3,369,615 Total Government Activities Program Revenues 27,492,896 31,801,429 38,302,648 36,692,835 42,007,143 38,397,825 47,935,729 56,680,675 70,160,156 69,991,174

CITY OF PITTSBURG
Changes in Net Position
Last Ten Fiscal Years
(Accrual Basis of Accounting)
209
262
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Business-Type Activities:

Charges for Services:

Water 18,979,002 19,559,288 20,352,786 21,468,810 23,240,951 25,192,434 29,104,815 27,544,712 26,731,846 27,819,423 Wastewater 5,123,475 5,264,897 5,241,131 5,280,083 5,510,632 5,138,927 5,882,042 5,033,314 5,150,007 5,060,858 Marina 2,071,214 1,931,707 2,011,270 2,046,221 2,156,979 2,286,801 2,015,817 2,254,835 2,383,616 3,439,994 Pittsburg Power Co.* 6,919,807 7,162,170 7,269,448 8,005,118 8,938,923 7,534,442 9,655,712 9,470,936 12,915,675 11,281,829 WaterFront Operations** 863,297 1,408,172 1,458,623 1,490,811 1,541,154 1,579,620 1,632,918 871,163 826,296 797,666 Other-Non-Major Enterprise Funds*** - - - - - - ----
Operating Grants and Contributions - 270,931 200,127 139,465 179,686 109,206 167,980 125,191 92,841 204,046 Capital Grants and Contributions 2,145,271 1,780,581 6,026,102 - 53,000 27,347 - 534,140 - - Total Business-Type Activities Program Revenue 36,102,066 37,377,746 42,559,487 38,430,508 41,621,325 41,868,777 48,459,284 45,834,291 48,100,281 48,603,816 Total Primary Government Program Revenues 63,594,962$ 69,179,175$ 80,862,135$ 75,123,343$ 83,628,468$ 80,266,602$ 96,395,013$ 102,514,966$ 118,260,437$ 118,594,990$ Net (Expense)/Revenue
Governmental Activities (52,721,365)$ (51,514,274)$ (39,060,040)$ (45,302,315)$ (42,255,026)$ (52,752,465)$ (45,013,282)$ (33,234,521)$ (30,191,080)$ (47,056,274)$ Business-Type Activities 6,587,199 6,248,302 2,900,595 5,951,778 8,349,027 6,878,660 11,734,855 10,144,968 4,469,975 3,351,197 Total Primary Government Net Expense (46,134,166)$ (45,265,972)$ (36,159,445)$ (39,350,537)$ (33,905,999)$ (45,873,805)$ (33,278,427)$ (23,089,553)$ (25,721,105)$ (43,705,077)$ Changes in Net Position
(continued)
Last Ten Fiscal Years
(Accrual Basis of Accounting)

CITY OF PITTSBURG
Continued
210
263
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
General Revenues and Other Changes in Net Position
Governmental Activities:

Taxes:

Property Taxes 3,204,965$ 3,300,776$ 3,573,822$ 3,972,711$ 4,039,499$ 4,082,582$ 4,455,736$ 4,895,005$ 5,275,779$ 5,258,965$ Sales Taxes 11,745,524 13,112,880 13,372,246 13,616,195 14,446,467 15,771,436 20,565,598 20,597,815 22,221,452 21,347,108 Motor Vehicle In-Lieu 4,169,031 4,422,099 4,544,316 4,825,687 5,152,948 5,374,375 5,720,207 5,863,791 6,590,985 6,988,438 Buisness License taxes 701,697 699,501 525,985
Transient Occupancy Taxes 645,115 710,501 758,814 831,743 842,605 777,473 594,956 505,971 501,035 478,960 Nonregulatory Franchise and Business 4,327,160 4,638,074 4,706,887 4,928,647 5,118,174 5,401,845 5,559,335 5,854,635 6,219,587 6,466,363 Interest Earnings 539,473 743,082 329,042 590,186 1,802,802 1,673,126 2,876,478 (2,863,079) 2,005,445 6,055,779 Other 8,556,333 8,608,044 9,095,222 11,137,388 11,215,512 11,876,931 12,575,903 3,250,828 3,610,551 4,012,931 Transfers 2,677,386 2,354,972 2,774,890 1,544,688 1,204,516 1,170,833 2,214,798 1,543,752 983,816 943,304 Gain (loss) on sale of assets - - (34,554) 15,950 - - - - - - Total Government Activities 35,864,987 37,890,428 39,120,685 41,463,195 43,822,523 46,128,601 54,563,011 40,350,415 48,108,151 52,077,833 Business-Type Activities:

Interest Earnings 440,462 665,412 325,437 373,857 1,719,235 1,826,709 423,675 312,307 3,434,926 5,383,235 Transfers (2,677,386) (2,354,972) (2,774,890) (1,544,688) (1,204,516) (1,170,833) (2,214,798) (1,543,752) (983,816) (943,304) Gain (loss) on sale of assets 63,754 - 96,473 56,375 - - - - - 18,929 Total Business-Type Activities (2,173,170) (1,689,560) (2,352,980) (1,114,456) 514,719 655,876 (1,791,123) (1,231,445) 2,451,110 4,458,860 Total Primary Government 33,691,817$ 36,200,868$ 36,767,705$ 40,348,739$ 44,337,242$ 46,784,477$ 52,771,888$ 39,118,970$ 50,559,261$ 56,536,693$ Change in Net Position
Governmental Activities (16,856,378.00)$ (13,623,846.00)$ 60,645.00$ (3,839,120)$ 1,567,497$ (6,623,864)$ 9,549,729$ 7,115,894$ 17,917,071$ 5,021,559$ Business-Type Activities 4,414,029 4,558,742 547,615 4,837,322 8,863,746 7,534,536 9,943,732 8,913,523 6,921,085 7,810,057 Total Primary Government (12,442,349) (9,065,104) 608,260 998,202 10,431,243 910,672 19,493,461 16,029,417 24,838,156 12,831,616 Prior Period Adjustment (See Note 9F) (44,258,992) -- (5,994,006) - - 1,171,619 - - Total Primary Government after adjustment (56,701,341)$ (9,065,104)$ 608,260$ (4,995,804)$ 10,431,243$ 910,672$ 20,665,080$ 16,029,417$ 24,838,156$ 12,831,616$ In FY 2014-15, implementation of GASB 68 & 71 resulted in prior period adjustments.

In FY 2017-18, implementation of GASB 75 resulted in prior period adjustments.

In FY 2020-21, due to Section 115 pension Trust account is reported as investments, resulted in a prior period adjustment Last Ten Fiscal Years
(Accrual Basis of Accounting)

CITY OF PITTSBURG
Changes in Net Position
(continued)
211
264
Fiscal Year Ended June 30,
2015 2016
General Fund
Reserved 3,442,272$ 3,309,050$
Unreserved 14,613,983 15,957,212
Total General Fund 18,056,255 19,266,262
All Other Governmental Funds
Reserved 24,596,598 24,358,25 1
Unreserved, designated (486,548) (455,164)
Total all other governmental funds 24,110,050 23,903,087 Total Government Funds
Reserved 28,038,870 27,667,30 1
Unreserved 14,127,435 15,502,048
Total Government Funds 42,166,305$ 43,169,349$
First Two Fiscal Years
(Modified Accrual Basis of Accounting)
(Pre GASB 54 Implementation)

CITY OF PITTSBURG
Fund Balances of Governmental Funds
0 5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
45,000,000
2015 2016
Unreserved
Reserved
212
265

CITY OF PITTSBURG
Fund Balances of Governmental Funds
(Post GASB 54 FY2011 Implementation)
Fiscal Year Ended June 30,
2017 2018 2019 2020 2021 2022 2023 2024
General Fund
Nonspendable 2,410,696$ 2,300,328$ 2,031,396$ 1,817,088$ 1,302,864$ 1,248,860$ 353,082$ 5,401,565$ Restricted
Committed
Assigned 434,778 528,077 802,151 573,069 1,190,087 1,509,170 1,607,087 9,820,075 Unassigned 17,037,283 18,426,657 21,652,919 21,760,428 32,020,209 30,947,761 25,610,923 12,643,243 Total General Fund 19,882,757 21,255,062 24,486,466 24,150,585 34,513,160 33,705,791 27,571,092 27,864,883 All Other Governmental Funds
Nonspendable 272,243$ 263,123$ 346,542$ 336,049$ 340,615$ 3,794,789$ 4,543,979$ 1,036,397$ Restricted 21,316,430 21,977,238 23,662,705 27,658,80 3 36,773,335 38,082,990 51,486,194 71,872,807 Committed 2,756,478 2,240,940 2,161,973 3,473,472 4,939,883 5,836,570 13,114,840 20,319,726 Assigned 29,349 42,127 3,586 37,090 64,160 54,207 62,236 107,520 Unassigned (3,745,132) (3,740,451) (3,755,741) (3,909,750) (3,781,016) (3,686,341) (4,097,837) (8,732,671) Total all other governmental funds 20,629,368 20,782,977 22,419,065 27,595,66 4 38,336,977 44,082,215 65,109,412 84,603,779 Total Government Funds
Nonspendable 2,682,939$ 2,563,451$ 2,377,938$ 2,153,137$ 1,643,479$ 5,043,649$ 4,897,061$ 6,437,962$ Restricted 21,316,430 21,977,238 23,662,705 27,658,80 3 36,773,335 38,082,990 51,486,194 71,872,807 Committed 2,756,478 2,240,940 2,161,973 3,473,472 4,939,883 5,836,570 13,114,840 20,319,726 Assigned 464,127 570,204 805,737 610,159 1,254,247 1,563,377 1,669,323 9,927,595 Unassigned 13,292,151 14,686,206 17,897,178 17,850,678 28,239,193 27,261,420 21,513,086 3,910,572 Total Fund Balances 40,512,125$ 42,038,039$ 46,905,531$ 51,746,249$ 72,850,137$ 77,788,006$ 92,680,504$ 112,468,662$ For additional detail on Fund Classifications, see Note 9 of Notes to Basic Financial Statements for fiscal years 2015-2021.

For additional detail on Fund Classifications, see Note 10 of Notes to Basic Financial Statements for fiscal year 2023-2024 Last Eight Fiscal Years
$
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
2017 2018 2019 2020 2021 2022 2023 2024
Unassigned
Assigned
Committed
Restricted
Nonspendable
213
266
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Revenues
Taxes 32,648$ 34,792$ 31,624$ 33,503$ 34,437$ 36,642$ 42,390$ 43,532$ 45,434$ 46,065$ Licenses, permits and fees 1,635 2,566 3,532 1,812 3,005 2,341 6,047 4,334 3,734 2,670 Fines and forfeitures 172 325 308 433 415 561 486 430 438 370 Use of money and property 542 743 329 590 1,670 1,600 2,871 (2,226) 1,842 5,337 Intergovernmental revenues 14,135 15,455 24,098 25,854 29,460 28,300 35,975 33,736 50,111 49,571 Charges for services 9,984 10,126 9,894 9,621 10,360 10,075 9,521 9,968 11,128 11,480 Other 3,027 4,019 3,957 4,907 7,570 4,459 7,544 5,880 4,514 4,745 Total Revenues 62,143 68,026 73,742 76,720 86,917 83,978 104,834 95,654 117,201 120,238 Expenditures
Current:

General government 8,217 6,740 7,321 6,353 6,163 7,740 5,747 7,596 7,607 9,469 Public safety 23,149 24,797 25,895 27,721 30,107 30,937 29,341 32,552 35,560 35,563 Public works 8,469 7,107 7,859 8,102 9,256 8,094 11,178 11,005 11,449 16,755 Community development 22,286 22,393 25,440 25,667 28,055 27,149 32,515 33,485 36,996 42,616 Culture and recreation 700 862 1,019 807 1,013 1,238 1,259 973 2,318 2,738 Capital outlay 3,474 2,738 6,600 3,429 3,959 1,078 1,060 2,346 4,221 11,430 Debt service:

Principal repayment 589 2,016 2,083 2,155 2,227 2,308 2,391 2,638 2,776 2,877 Interest and fiscal charges 2,890 2,315 2,264 1,999 1,982 1,919 1,815 1,801 1,824 1,900 Total Expenditures 69,774 68,968 78,481 76,233 82,762 80,463 85,306 92,396 102,751 123,348 Excess (deficiency) of revenues over
(under) expenditures (7,631) (942) (4,739) 487 4,155 3,515 19,528 3,258 14,450 (3,110) Other Financing Sources (Uses)
Transfers in 6,547 6,814 6,875 6,830 8,477 9,579 9,904 11,650 20,052 51,348 Transfers (out) (4,499) (4,869) (4,793) (5,808) (7,813) (8,253) (8,328) (10,504) (19,609) (49,599) Refunding tax allocation bonds - - - - - - - - - - Tax allocation bonds issued - - - - - - - - - - Sale of capital assets 4 - - 17 48 - - 534 - - Total other financing sources (uses) 2,052 1,945 2,082 1,039 712 1,326 1,576 1,680 443 1,749 Net Change in fund balances before (5,579)$ 1,003$ (2,657)$ 1,526$ 4,867$ 4,841$ 21,104$ 4,938$ 14,893$ (1,361)$ Debt service as a percentage of
noncapital expenditures 5.2% 6.5% 6.0% 5.7% 5.3% 5.3% 5.0% 4.9% 4.7% 4.48%

CITY OF PITTSBURG
Changes in Fund Balance of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
{in thousands}
214
267

CITY OF PITTSBURG
Assessed and Estimated Actual
Value of Taxable Property
Last Ten Fiscal Years
#
#
#
#
#
#
#
#
Secured Tax Roll NET Total
Fiscal Personal Unsecured GROSS LESS: Exemptions Assessed Direct Year Land Improvements Propert y Tax Roll Tax Roll HOPTR * Others Valuation ** * Tax Rate **** 2015 1,431,988,767 3,744,776,351 29,751,906 1,033,971,545 6,240,488,569 57,725,918 187,268,875 5,995,493,776 0.14854 ** 2016 1,596,856,457 4,088,152,986 28,100,163 905,755,131 6,618,864,737 57,212,685 195,920,004 6,365,732,048 0.15020 2017 1,734,578,352 4,271,018,852 31,382,377 763,128,074 6,800,107,655 56,350,900 203,066,563 6,540,690,192 0.15142 2018 1,912,263,271 4,316,648,943 30,152,799 789,812,811 7,048,877,824 55,968,158 206,618,682 6,786,290,984 0.15305 2019 2,097,264,749 4,752,331,104 29,396,436 808,915,163 7,687,907,452 55,103,121 206,894,237 7,425,910,094 0.15419 2020 2,244,198,055 4,919,701,883 24,764,994 882,038,216 8,070,703,148 54,749,068 291,513,686 7,724,440,394 0.15451 2021 2,430,265,323 5,114,403,543 23,294,582 931,043,622 8,499,007,070 54,039,947 293,711,372 8,151,255,751 0.15778 2022 2,591,425,680 5,225,394,381 23,288,811 956,204,399 8,796,313,271 53,217,087 342,980,102 8,400,116,082 0.15585 2023 2,918,316,115 5,627,562,103 23,777,465 1,333,934,749 9,903,590,432 52,009,128 374,728,335 9,476,852,969 0.13847 2024 3,179,166,862 5,870,123,859 27,596,003 1,404,853,295 10,481,740,019 51,142,250 394,814,493 10,035,783,276 0.13985 * Homeowners' Property Tax Relief
** Direct Tax Rate for FY 14-15 has been updated to reflect the AB8 adjustment for the first time on 2014-15 tax roll after ACF R was issued. ***
****
Source: Contra Costa County Auditor Controller Office Certificate of Assessed Valuations The State Constitution requires property to be assessed at one hundred percent of the most recent purchase price, plus an increment of no more than two percent annually, plus any local over-rides. These values are considered to be full market values.

California cities do not set their own direct tax rate. The state constitution establishes the rate at 1% and allocates a portion of that amount, by an annual calculation, to all the taxing entities within a tax rate area. Beginning in 2013/14 the total Direct Rate no longer includes revenue generated from the former redevelopment tax rate areas. Challenges to recognized enforceable obligations are assumed to have been resolved during 2012/13. For the purposes of this report, residual revenue is assumed to be distributed to the City in the same proportions as general fund revenue. $0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Unsecured Tax Roll
Secured Tax Roll
215
268
Basic Bay East Bay
County Pittsburg Los Area Regional Pittsburg
Fiscal Wide Direct Medanos Rapid Park Unified School Community Year Levy Rate* Hospital Transit District District College Total 2015 1.0000 0.14854 0.0231 0.0079 0.0373 0.3241 0.0572 1.5902 2016 1.0000 0.15020 0.0170 0.0058 0.0273 0.2280 0.0419 1.4644 2017 1.0000 0.15142 0.0170 0.0058 0.0273 0.2280 0.0419 1.4656 2018 1.0000 0.15305 0.0170 0.0058 0.0273 0.2280 0.0419 1.4673 2019 1.0000 0.15419 0.0170 0.0058 0.0273 0.2280 0.0419 1.4684 2020 1.0000 0.15451 0.0170 0.0058 0.0273 0.2280 0.0419 1.4687 2021 1.0000 0.15778 0.0170 0.0058 0.0273 0.2280 0.0419 1.4719 2022 1.0000 0.15585 0.0170 0.0058 0.0273 0.2280 0.0419 1.4700 2023 1.0000 0.13847 0.0170 0.0058 0.0273 0.2280 0.0419 1.4526 2024 1.0000 0.13985 0.0170 0.0058 0.0273 0.2280 0.0419 1.4540 * Pittsburg Direct Rate = the weighted average of City's Share of 1% levy & Redevelopment Rate Source: Contra Costa County Assessors Office & HdL Coren & Cone

CITY OF PITTSBURG
Property Tax Rates
All Overlapping Governments
Last Ten Fiscal Years

0.0000

0.0500

0.1000

0.1500

0.2000

0.2500

0.3000

0.3500

0.4000

0.4500
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Fiscal Year
Los Medanos Hospital BART
East Bay Regional Park District Pittsburg Unified School District Community College
216
269
2023-24 2014-15
Percentage Percentage
of Total City of Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Value Value Rank Value
Corteva Agriscience $294,785,630 1 2.92% -$ 0.00% Diablo Energy Storage LLC 266,742,554 2 2.64% 0.00%
Calpine Corporation 252,900,000 3 2.51% 295,000,000 2 4.87% USS - Posco Industries 251,346,583 4 2.49% 267,799,140 3 4.42% Delta Energy Center LLC 195,300,000 5 1.94% 241,133,000 4 3.98% K2 Pure Sol 183,939,747 6 1.82% 133,756,769 5 2.21% KW Kirker Creek LLC 114,112,177 7 1.13% 68,407,616 8 1.13% Dow Chemical Company 105,629,779 8 1.05% 355,835,024 1 5.88% Sierra Pacific Apartments LLC 99,639,649 9 0.99% 104,255,294 7 1.72% San Marco Properties LLC 89,252,138 10 0.88% 58,023,617 10 0.96% United Spiral LLC 0.00% 132,224,055 6 2.18%
Diablo Energy Storage LLC 0.00% 0.00%
Century Plaza Corporation 0.00% 66,042,431 9 1.09%
Subtotal 1,853,648,257$ 18.38% 1,722,476,946 $ 19.16% Total Net Assessed Valuation:

Fiscal Year 2023-24 $10,086,925,526
Fiscal Year 2014-15 $6,053,219,694
Source: HdL Coren & Cone

CITY OF PITTSBURG
Principal Property Tax Payers
Current Year and Nine Years Ago
217
270
Percent of
Total Total Tax Percent
Fiscal Total Current Tax Percent of Levy Tax Collection s Amount % Year Tax Levied Collections County Collected * Collections To Tax Levy Delinquent Delinquent 2015 9,425,580 9,353,530 99.24% 9,353,530 99.24% 72,050 0.76% 2016 10,060,215 9,991,126 99.31% 9,991,126 99.31% 72,008 0.72% 2017 10,398,911 10,327,316 99.31% 10,327,316 99.31% 71,496 0.69% 2018 11,112,284 11,044,802 99.39% 11,044,802 99.39% 67,482 0.61% 2019 11,939,625 11,862,801 99.36% 11,862,801 99.36% 76,824 0.64% 2020 12,432,680 12,331,075 99.18% 12,331,075 99.18% 101,605 0.82% 2021 13,194,874 13,100,993 99.29% 13,100,993 99.29% 93,881 0.71% 2022 13,622,228 13,526,931 99.30% 13,526,931 99.30% 95,297 0.70% 2023 15,275,224 15,150,953 99.19% 15,150,953 99.19% 124,272 0.81% 2024 16,138,288 15,978,99 3 99.01% 15,978,993 99.01% 159,295 0.99% * The County provides the City 100% of its tax levy under the "Teeter Plan", an agreement which allows the County to keep all interest and delinquency charges collected.

Source: CCC Auditor-Contoller (Procedure 10-147)

CITY OF PITTSBURG
Property Tax Levies and Collections June 30
Last Ten Fiscal Years

2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Tax Levied Current Tax Collections
218
271

CITY OF PITTSBURG
Ratio of Outstanding Debt by Type
Last Ten Fiscal Years
Successor Pension City
Fiscal Agency Obligation Loans/
Year Bond s Bonds Leases Total
2015 - 33,826,97 5 538,686 34,365,661
2016 - 34,036,85 0 646,382 34,683,232
2017 - 34,104,558 504,189 34,608,747
2018 - 34,030,018 1,089,735 35,119,753
2019 - 33,260,64 2 1,595,000 34,855,642
2020 - 33,422,178 1,955,024 35,377,202
2021 - 32,872,24 3 1,399,669 34,271,912
2022 32,153,097 854,041 33,007,138
2023 31,213,452 1,726,883 32,940,335
2024 30,078,657 1,183,212 31,261,869
Business-Type Activities
2016 Water Sewer 2022A Water Total Percentage
Fiscal Revenue Revenue I-Bank Revenue Primary of Personal Per Year Bond s Bonds ** Loan Bonds Total Government Income *** Capita *** 2015 31,575,000 4,601,000 11,387,398 - 47,563,398 81,929,05 9 5.29% 1,202 2016 30,485,000 3,864,000 11,167,171 - 45,516,171 80,199,40 3 5.23% 1,155 2017 29,605,000 3,111,000 10,939,216 - 43,655,21 6 78,263,963 4.92% 1,107 2018 28,650,000 2,350,000 10,703,258 - 41,703,258 76,823,011 4.56% 1,065 2019 27,335,000 1,578,000 10,459,018 - 39,372,018 74,227,66 0 3.99% 1,025 2020 25,975,000 796,000 10,206,206 - 36,977,20 6 72,354,408 3.63% 997 2021 24,570,000 - 9,944,520 - 34,514,52 0 68,786,432 3.21% 900 2022 23,120,000 - 9,673,649 46,264,337 79,057,98 6 112,065,124 4.86% 1,464 2023 21,620,000 - 9,393,270 46,191,525 77,204,795 110,145,130 4.44% 1,420 2024 20,060,000 - 9,103,050 46,104,715 75,267,765 75,267,765 2.71% 1,002 Note : Debt amounts includes any premiums, discounts, or other amortization amounts. **Sewer Revenue Bond was fully defeased as of June 30, 2014. It has been replaced with a private placement debt. *** See Schedule of Demographic and Economic Statistics for personal income and population data. FY2013-2020 numbers corrected for Personal Income and Capita
Please refer to Note 7 for further information for fiscal years 2013-2021.

Please refer to Note 8 for further information for fiscal year 2022.

Sources: City of Pittsburg
U.S. Department of commerce, Bureau of the Census (income and population) Governmental Activities
-
10 20
30 40
50 60
70 80
90 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Governmental Total Business
219
272

CITY OF PITTSBURG
Ratio of General Government Debt Outstanding
Last Ten Fiscal Years*
General Government Debt Outstanding
Percentage of
Fiscal POB Lease CEC
PG&E
Energy Lease Lease Lease Lease
Subscription
and Total Total Gross Per Debt Per
Year Bonds * Street
Sweeper
Energy Efficient
Retrofit
VOIP
System
Fleet
Vehicles/Street
Sweeper
Fleet
Equipment
Vehicles/
Equipment
Lease
Liabilities
Debt Revenue Capita Assessed Value
2015 33,826,975 71,520 467,166 - - - - - - 34,365,661 55.30% 523.36 0.57% 2016 34,036,850 240,114 406,268 - - - - - - 34,683,232 50.99% 520.03 0.54% 2017 34,104,558 160,696 343,493 - - - - - - 34,608,747 47.27% ** 507.91 0.53% 2018 34,030,018 116,339 278,821 209,740 484,835 - - - - 35,119,753 46.11% ** 505.87 0.52% 2019 33,260,642 70,754 212,194 188,411 363,626 498,647 261,368 - - 34,855,642 40.10% 493.15 0.47% 2020 33,422,178 23,907 143,568 167,085 242,417 395,018 212,954 770,075 - 35,377,202 40.70% 490.39 0.46% 2021 32,872,243 - 72,853 145,756 121,208 287,415 162,683 609,754 - 34,271,912 32.69% 472.14 0.42% 2022 32,153,097 - - 124,427 - 175,684 110,483 443,447 - 33,007,138 31.49% 431.94 0.39% 2023 31,213,452 - - 103,098 - 59,666 56,281 270,930 1,102,152 32,805,579 31.29% 428.58 0.35% 2024 30,078,657 - - 81,769 - - - 91,970 1,009,473 31,261,869 29.82% 403.00 0.31% * 'The 2006 Pension Obligation Bonds (POB) includes the accreted amount of Capital Appreciation Bonds. ** FY 17 and 18 percent rates restated to reflect the correct revenue. 29,000,000
30,000,000
31,000,000
32,000,000
33,000,000
34,000,000
35,000,000
36,000,000
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Debt
Total Debt

200.00
400.00
600.00
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Per Capita
Per Capita
220
273
2023-24 Assessed Valuation: $10,086,925,526
Total Debt City’s Share of
OVERLAPPING TAX AND ASSESSMENT DEBT: 6/30/2024 % Applicable (1) Debt 6/30/24 Bay Area Rapid Transit District $2,445,575,000 1.00% $24,431,294 Contra Costa Community College District 618,770,000 3.772 23,340,004 Antioch Unified School District SFID No. 1 94,904,585 3.435 3,259,972 Mt. Diablo Unified School District 402,855,000 4.251 17,125,366 Mt. Diablo Unified School District Community Facilities District No. 1 1,625,000 4.251 69,079 Pittsburg Unified School District 370,442,815 98.794 365,975,275 City of Pittsburg Community Facilities Districts No. 2005-2 6,655,000 100 6,655,000 City of Pittsburg 1915 Act Bonds 5,304,598 100 5,304,598 East Bay Regional Park District 144,520,000 1.57 2,268,964 TOTAL DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEBT $448,429,552 DIRECT AND OVERLAPPING GENERAL FUND DEBT:

Contra Costa County General Fund Obligations $171,495,000 3.76% $6,448,212 Antioch Unified School District General Fund Obligations 19,252,546 2.077 399,875 Mt. Diablo Unified School District General Fund Obligations 9,015,000 4.251 383,228 Pittsburg Unified School District Certificates of Participation 13,915,000 98.794 13,747,185 City of Pittsburg Pension Obligation Bonds 30,078,657 100 30,078,657 TOTAL GROSS DIRECT AND OVERLAPPING GENERAL FUND DEBT $46,630,441 Less: Contra Costa County General Fund Obligations supported by revenue funds 6,448,212 TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND DEBT $40,182,229 OVERLAPPING TAX INCREMENT DEBT (Successor Agency): $130,878,933 100.00% $130,878,933 TOTAL DIRECT DEBT $25,651,941
TOTAL GROSS OVERLAPPING DEBT $600,286,985
TOTAL NET OVERLAPPING DEBT $593,838,773
GROSS COMBINED TOTAL DEBT $625,938,926 (2)
NET COMBINED TOTAL DEBT $619,490,714
(1) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable p ercentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the d istrict's total taxable assessed value. (2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue, non-bonded capital lease obligations, and sales tax revenue bonds.

Qualified Zone Academy Bonds are included based on principal due at maturity.

Ratios to 2023-24 Assessed Valuation:

Total Direct and Overlapping Tax and Assessment Debt 4.45% Direct Debt ($30,078,657) 0.25%
Gross Combined Total Debt 6.21%
Net Total Debt 6.14%
Ratios to Redevelopment Successor Agency Incremental Valuation ($6,949,097,008):

Overlapping Tax Increment Debt 1.88%

CITY OF PITTSBURG
Computation of Direct and Overlapping Debt
221
274
ASSESSED VALUATION:

Secured property assessed value, net of
exempt real property (a) $3,137,828,518
BONDED DEBT LIMIT (15% OF ASSESSED VALUE) (a) $470,674,278 AMOUNT OF DEBT SUBJECT TO LIMIT:

Total Bonded Debt (b) $96,243,372
Less:

Revenue Bonds 66,164,715
30,078,657
LEGAL BONDED DEBT MARGIN $440,595,621
Total net debt
Total Net Debt Legal applicable to the limit
Fiscal Debt Applicable to Deb t as a percentage
Year Limit Limit Margin of debt limit
2015 320,762,569 33,826,97 5 286,935,594 11.79%
2016 335,737,855 34,036,850 301,701,005 11.28%
2017 340,711,53 3 34,104,558 306,606,97 5 11.12%
2018 361,299,50 2 34,030,018 327,269,48 4 10.40%
2019 381,350,50 4 33,260,642 348,089,862 9.56%
2020 394,631,565 33,422,178 361,209,387 9.25%
2021 408,098,52 4 32,872,243 375,226,281 8.76%
2022 416,499,016 32,153,097 384,345,919 8.37%
2023 455,514,432 31,213,452 424,300,980 7.36%
2024 470,674,278 30,078,657 440,595,621 6.83%
Source: City Finance Department
(a) California Government Code Section 43605 sets the limit at 15%. (b) Upon the dissolution of the Redevelopment Agency - City of Pittsburg effective January 31, 2012, a Successor Agency assumed the liabilities of the former Redevelopment Agency, therefore the total bonded debt and revenue bonds have decreased in all years for comparative purposes.

CITY OF PITTSBURG
Computation of Legal Bonded Debt Margin
June 30, 2024
222
275

CITY OF PITTSBURG
Revenue Bond Coverage
Wastewater Revenue Bonds
Net Revenue Debt Service Requirements
Fiscal Gros s Operating Available for
Year Revenu e Expenses Debt Service Principal Interest * Total Coverage 2015 5,022,745 1,965,165 3,057,580 741,000 81,986 822,986 3.72 2016 5,024,185 2,547,410 2,476,775 737,000 68,464 805,464 3.07 2017 5,107,869 2,355,218 2,752,65 1 753,000 56,986 809,986 3.40 2018 5,168,294 3,011,30 3 2,156,991 761,000 44,922 805,922 2.68 2019 4,939,327 2,817,905 2,121,422 772,000 33,112 805,112 2.63 2020 4,950,030 2,851,197 2,098,83 3 782,000 20,657 802,657 2.61 2021 4,938,929 2,984,575 1,954,354 796,000 8,808 804,808 2.43 2022 - - --- - -
2023 - - --- - -
2024 - - --- - -
*
Note: Coverage requirements of a least 1.20 times higher than debt service for any fiscal year. Bond was paid in full Fiscal Year 2020-21 Source: City of Pittsburg Annual Financial Statements as analyzed by Finance Division Revenue Manager Interest is lowered due to the refunding of the 2004 Wastewater Bond (per Resolution 14-0270 dated 6/6/14). The City executed a private Installment Sale Agreement with Bank of the West for a lower interest rate of 1.55% per annum. 100.00%
150.00%
200.00%
250.00%
300.00%
350.00%
400.00%
2 0 1 52 0 1 62 0 1 72 0 1 82 0 1 92 0 2 02 0 2 12 0 2 22 0 2 32 0 2 4 Coverage
223
276

CITY OF PITTSBURG
Revenue Bond Coverage
Water Revenue Bonds
Net Revenue Debt Service Requirements
Fiscal Gros s Operating Available for
Year Revenue Expense s Debt Service Principal Interes t Total Coverage 2014 18,991,247 12,777,146 6,214,101 1,010,000 1,421,992 2,431,992 2.56 2015 18,272,979 12,379,283 5,893,696 1,035,000 1,734,374 2,769,374 2.13 2016 18,592,332 13,088,660 5,503,672 1,310,226 1,691,311 3,001,537 1.83 2017 19,331,187 12,933,557 6,397,630 1,472,956 1,283,708 2,756,664 2.32 2018 21,519,127 14,547,037 6,972,090 1,190,958 1,651,243 2,842,201 2.45 2019 23,369,888 15,605,367 7,764,521 1,559,240 1,594,020 3,153,260 2.46 2020 25,551,818 16,431,138 9,120,680 1,612,812 1,527,793 3,140,605 2.90 2021 26,935,506 17,482,817 9,452,689 1,666,686 1,489,069 3,155,755 3.00 2022 27,173,166 17,374,154 9,799,012 1,786,510 1,830,449 3,616,959 2.71 2023 28,357,310 20,271,676 8,085,634 1,780,379 1,088,328 2,868,707 2.82 2024 31,389,900 20,687,714 10,702,186 1,851,020 3,879,175 5,730,195 1.87 Note: This schedule has been modified to reconcile to the Revenue Manager's analysis for annual Bond Disclosures.

Source: City of Pittsburg Annual Financial Statements as Analyzed by the Finance Division Revenue Manager "2016 and 2022 water rev bonds

0.00%
100.00%
200.00%
300.00%
400.00%
500.00%
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Coverage
224
277

CITY OF PITTSBURG
Successor Agency Bonded Debt Pledged Revenue Coverage
Tax Allocation Bonds
Last Ten Fiscal Years
Tax Debt Service Requirements
Fiscal Increment
Year Revenue Principal Interest Total Coverage
2015 40,387,530 13,355,000 ** 14,415,839 27,770,839 1.45 2016 43,371,250 16,655,000 12,113,046 28,768,046 1.51
2017 10,218,501 20,250,000 12,125,192 32,375,192 0.32
2018 33,553,848 21,310,000 11,652,527 32,962,527 1.02
2019 33,840,468 22,350,000 10,795,387 33,145,387 1.02
2020 33,758,927 23,365,000 9,853,554 33,218,554 1.02
2021 33,512,215 24,270,000 8,944,331 33,214,331 1.01
2022 32,146,744 25,225,000 7,987,046 33,212,046 0.97
2023 31,978,811 24,250,00 0 7,113,245 31,363,245 1.02
2024 32,161,001 24,990,00 0 5,488,407 30,478,407 1.0 6
* The 2014 Tax Allocation Refunding Bond was issued to fully refunded 2003A Bonds and partly refund the 1999 CIP portion.

Refer to Note 14 for additional information on refunding for fiscal years 2013-2021.

Refer to Note 15 for additional information on refunding for fiscal year 2022.

The 2016 Refunding Bond was excluded for trending purpose ** The interest amount excludes the Letter of Credit fees and costs associated with 2016 bond refunding Source: City of Pittsburg Annual Financial Statements
$0
$5
$10
$15
$20
$25
$30
$35
$40
$45
$50
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Fiscal Years
Revenue Debt Service Payment
225
278

CITY OF PITTSBURG
Demographic and Economic Statistics
Last Ten Fiscal Years
Per Capita ** Contra Costa * Pittsburg
Fiscal City * Total ** Personal Unemployment*** County Population Year Population Personal Income Income Rate (%) Population % of County 2015 68,140 1,548,229,000 22,721 5.9% 1,111,339 6.13%
2016 69,424 1,534,225,000 22,099 5.8% 1,126,745 6.16%
2017 70,679 1,589,374,000 22,487 5.0% 1,135,127 6.23%
2018 72,141 1,684,104,000 23,345 3.7% 1,147,439 6.29%
2019 72,437 1,859,890,000 25,676 3.7% 1,150,215 6.30%
2020 72,588 1,991,949,000 27,442 16.8% 1,153,526 6.29%
2021 76,416 2,140,660,000 28,013 8.8% 1,165,927 6.55%
2022 76,544 2,303,530,000 30,649 3.9% 1,161,413 6.59%
2023 77,572 2,482,707,000 33,187 4.3% 1,156,966 6.70%
2024 75,083 2,776,568,000 36,978 4.1% 1,155,025 6.50%
Source: * www.census.go v
** from HdL Coren Report
*** www. homefacts.com

0.00%

2.50%

5.00%

7.50%

10.00%

12.50%

15.00%

17.50%
2015 2016 2017 2018 2019 2020 2021 2022 2023
Series1

5.50%

5.75%

6.00%

6.25%

6.50%

6.75%
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Series1
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
2015 2016 2017 2018 2019 2020 2021 2022 2023
Total ** Personal Income
$0
$5
$10
$15
$20
$25
$30
$35
2015 2016 2017 2018 2019 2020 2021 2022 2023
Per Capita ** Personal Income
226
279

CITY OF PITTSBURG
Principal Employers
Current Year and Nine Years Ago
2023-24 *
Percentage Percentage
Number of of Total City Number of of Total City
Employer Employees Rank Employmen t Employees Rank Employmen t Pittsburg Unified School District 1,286 1 3.4% 1,179 1 3.1% Los Medanos Community College 932 2 2.4% 487 3 1.3%
City of Pittsburg 324 3 0.9% 239 6 0.6%
Dow Chemical Company 285 4 0.7% 370 4 1.0%
Walmart 217 5 0.6% 250 5 0.7%
Ramar Foods 255 6 0.7% 158 8 0.4%
Home Depot 168 7 0.4% - - -
WinCo Foods 168 8 0.4% 137 9 -
Safeway 120 9 0.3% - - -
Redwood Painting 50 10 0.1% - - -
Angelica Corporation (Laundry) - - - 210 7 0.6% USS - Posco Industries - - - 653 2 1.7% Mi Pueblo Foods - - - 136 10 0.4% Subtotal 3,805 10.0% 3,819 10.0%
Employees in the City of Pittsburg 38,063 ** * 37,523 * * Source: * Telephone Survey by Finance Staff
**2014-15 data from CAFR
*** www.censusbureau.com
214-15 **
227
280

CITY OF PITTSBURG
Actual Full-Time Equivalent City Government Employees by Function Last Ten Fiscal Years
Function 2015 2016 2017 201 8 2019 2020 2021 202 2 2023 202 4 General Government 42 45 45 43 46 44 43 44 46 46
Public Safety (Police) 95 98 96 101 109 107 109 114 113 113 Public Works 31 33 35 37 35 49 48 55 78 79
C o m m u n i t y D e v e l o p m e n t 3 33 73 7 3 73 74 94 85 23 5 3 4 Recreation 8 8 9 9 9 12 15 20 16 16
W a t e r 2 52 52 4 2 32 12 42 72 73 0 3 0
W a s t e w a t e r 576 676 1 0 1 46 6
Total 239 253 252 256 264 291 300 326 324 324
Source: City of Pittsburg
0 100
200
300
400
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Fiscal Year
Wastewater
Water
Recreation
Community
Development
Public Works
Public Safety
(Police)
General
Government
228
281

This Page Intentionally Left Blank
229
282
2015 2016 2017
Function/Program
Public safety:

Police:
*** Police calls for Service 76,346 72,426 80,631
Law violations:
*** Part I and Part II crimes 7,729 7,286 7,663 *** Physical arrests (adult and juvenile) 3,287 2,80 5 3,329 *** Traffic violations (VC14601 & VC12500) 1,032 706 1,193 (Fire Protection is Contra Costa County)
Public works
Street Re-surfacing (Miles) 1.55 0.80 0
Streets Repaired (square feet) 46,905 52,503 44,795
Recreation Services:
**** * Aquatic Participants 3,100 1,600 * * * 2,379 Sport Participants 731 590 650
Small World Park Gate Attendance 28,420 27,666 25,050
Senior Services Participants ** 22,423 20,014 11,305
Water
Number of Meters Served 18,094 18,359 18,574
Water Main Breaks 71 80 46
Average Daily Consumption (millions of gallons) 7.8 7.3 8.6 Wastewater
Miles of Sewer Line (Excluding line operated by Delta Diablo District 7-A) 171 176 178 Solid Waste
Refuse Landfilled (tons per year) 51,564 63,500 59,559
Recyclables Processed (tons per year) 39,313 48,500 48,500 * Leisure Services Data not Available due to City Reorganization and Early Retirement. ** FY 2013 & FY 2014 Number corrected. Prior ACFR reported number of classes, updated to reflect number of Participants.
*** FY 2016 Numbers corrected.
**** For Public Safety effective FY2020 all numbers restated to calendar years to be in line with the DOJ - FBI Uniform Crime Report publication.
***** For Police effective 2022 the stats for Part I and II Crimes are no longer reported on the ACFR.

Source: City of Pittsburg Divisions & Prior Year CAFR's

CITY OF PITTSBURG
Operating Indicators by Function/Program
Last Ten Fiscal Years
230
283
2018 2019 2020 2021 2022 2023 2024
80,133 87,517 75,865 ** * 74,050 70,794 66,445 64,301
7,778 8,579 6,046 ** * 6,309 *****
2,808 4,127 2,382 *** 2,221 2,28 5 1,348 1,328
908 1,754 1,339 ** * 648 532 574 580

0.97 0.25 0.25 1.50 5.57 14.82 0.25
48,305 40,028 70,890 60,514 66,095 87,388 63,015
2,301 2,335 6,042 12,129 29,307 31,040 30,500
616 750 - 312 773 1,514 4,455 22,839 22,999 14,108 - 12,558 18,449 26,814 16,000 17,210 36,344 11,420 10,566 13,450 14,297
18,759 18,767 19,028 19,233 19,733 19,459 19,557
32 27 44 60 49 42 44
8 8.1 8.1 8.9 8.4 8.7 8.2
179 180 180 180 172 175 175
70,982 94,092 80,347 90,570 83,021 80,225 81,983
42,811 54,940 50,306 58,462 52,794 47,818 45,936
231
284
2015 2016 2017
Function/Program
Public safety:

Police stations 1 1 1
Police patrol units (Includes Unmarked) 64 67 69
Public works
Miles of streets (Center Line) 163.79 164.63 169.90
Street lights (Total) 4,358 4,287 4,287
Traffic Signals 61 63 63
Culture and recreation:

Community services:

City Parks 24 24 24
City parks acreage 147 147 147
Roadway landscaping acreage 22 22 22
Regional park acreage 56 56 56
Regional park facilities:

Golf courses (18 holes) 1 1 1
Marina Fuel Station 1 1 1
Community Civic Center 1 1 1
Senior centers 1 1 1
Swimming pools 1 1 1
Tennis courts 3 3 3
Water
Storage capacity (millions of gallons) 19.3 19.3 19.3
Miles of Water Mains 229 224 ** 227
Wastewater
Miles of Storm Drains 101 101 103
Note: n/a denotes information is not available.
** In 2016, the City remeasured all water lines using the new GIS System Source: City of Pittsburg Staff & Prior Year ACFR's

CITY OF PITTSBURG
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
232
285
2018 2019 2020 2021 2022 2023 2024
1 1 111 1 1
69 83 85 85 87 87 86
169.90 169.90 169.90 169.90 169.90 175 175
4,287 4,287 4,287 4,348 4,495 4,594 4,543
63 63 63 64 64 64 63
26 26 26 26 26 26 26
322 322 322 322 322 322 322
22 22 22 22 22 22
56 56 56 56 56 56 56
1 1 111 1 1
1 1 111 1 1
1 1 111 1 1
1 1 111 1 1
1 1 111 1 1
3 3 333 3 3

19.3 19.3 19.3 19.3 19.3 19.3 19.3
227 227 227 229 229 232 232
104 104 104 106 106 110 109
`
233
286
City of
Pittsburg
Pittsburg, California
Independent Accountants’ Report on
Agreed-Upon Procedures Applied to
Appropriations Limit Schedule
For the fiscal year ending June 30, 2025
287
288

INDEPENDENT ACCOUNTANTS’ REPORT

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

We have performed the procedures enumerated be low on the accompanying Appropriations Limit Schedule of the City of Pittsburg (City) for the fiscal year ending June 30, 2025. The City’s management is responsible for the accompanying Appropriations Limit Schedule.

The City has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of the requirements of Section 1.5 of Article XIII-B of th e California Constitution.

Additionally, the League of California Cities (as presented in the publication entitled Agreed-upon Procedures Applied to the Appropriations Limitation Prescribed by Article XIII-B of the California Constitution) has agreed to and acknowledged that the procedures performed are appropriate for their purposes. This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this re port and may not meet the needs of all users of this report and, as such, users are responsible for de termining whether the procedures performed are appropriate for their purposes.

The procedures performed and our findings are described below:

1. We obtained the completed worksheets used by th e City to calculate its appropriations limit for the fiscal year ending June 30, 2025, and determined that the limit and annual calculation factors were adopted by resolution of City Coun cil. We also determined that the population and inflation options were selected by a recorded vote of City Council.

Finding: No exceptions were noted as a result of our procedures.

2. For the accompanying Appropriations Limit Schedu le, we added the prior year’s limit to the total adjustments, and agreed the resulting amount to the current year’s limit.

Finding: No exceptions were noted as a result of our procedures.

3. We agreed the current year information presen ted in the accompanying Appropriations Limit Schedule to corresponding information in worksheets used by the City.

Finding: No exceptions were noted as a result of our procedures.

4. We agreed the prior year appropriations limit presented in the accompanying Appropriations Limit Schedule to the prior year appropriations limit adopted by the City Council during the prior year.

Finding: No exceptions were noted as a result of our procedures. 1 289
To the Honorable Mayor and Members of City Council
of the City of Pittsburg
Pittsburg, California

We were engaged by the City to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to and did not conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the accompanying Appropriation Limit Schedule. Accord ingly, we do not express such an opinion or conclusion. Had we performed additional procedures, ot her matters might have come to our attention that would have been reported to you.

We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

This report is intended solely for the information and use of the City Council and management of the City and is not intended to be and should not be used by anyone other than these specified parties. However, this report is a matter of public record, and its distribution is not limited.

Badawi & Associates, CPAs
Berkeley, California
April 10, 2025
2 290
City of Pittsburg
Appropriations Limit Schedule
Amount Source
A. Appropriations limit for the year ended June 30, 2024 210,069,618$ Prior year resolution B. Calculation Factors:

1. Population increase % 1.0047 State Department of Finance

2. Inflation increase % 1.0362 State Department of Finance

3. Total adjustment factor % 1.0411 B1*B2
C. Annual Adjustment Increase 8,627,559 [(B3-1)A)]
D. Other Adjustments - N/A
E. Total Adjustments 8,627,559 (C+D)
F. Appropriations limit for the year ending June 30, 2025 218,697,177$ (A+E) For the fiscal year ending June 30, 2025
3 291
City of Pittsburg
Notes to Appropriations Limit Schedule
For the fiscal year ending June 30, 2025

1. PURPOSE OF LIMITED PROCEDURES REVIEW
Under Article XIIIB of the California Constitution (the Gann Spending Limitation Initiative), California governmental agencies are restricted as to the amount of annual appropriations from proceeds of taxes.

Effective for years beginning on or after July 1, 1990, under Section 1.5 of Article XIIIB, the annual calculation of the appropriations limit is subject to a limited procedures review in connection with the annual audit.

2. METHOD OF CALCULATION
Under Section 10.5 of Article XIIIB, for fiscal years beginning on or after July 1990, the appropriations limit is required to be calculated based on the limit for the fiscal year 1986-1987, adjusted for the inflation and population factors discussed in Notes 3 and 4 below.

3. INFLATION FACTORS
A California governmental agency may adjust its appropriations limit by either the annual percentage change in the 4th quarter per capita personal income (which percentage is supplied by the State Department of Finance), or the percentage change in the local assessment roll from the preceding year due to the change of local nonresidential construction. The factor adopted by the City of Pittsburg for the fiscal year 2024-2025 represents the percentage change in per capita income in the State of California.

4. POPULATION FACTORS
A California governmental agency may adjust its appropriations limit by either the annual percentage change of the jurisdiction’s own population, or the annual percentage change in population in the County where the jurisdiction is located. T he factor adopted by the City of Pittsburg for fiscal year 2024-2025 represents the annual percentage change in population for the City.

5. OTHER ADJUSTMENTS
A California government agency may be required to adjust its appropriations limit when certain events occur, such as the transfer of responsibility for municipal services, to, or from, another government agency or private entity. There were no adjustments made for fiscal year ending June 30, 2025. 4 292

City of
Pittsburg

Pittsburg, California

Auditor’s Communication with
Those Charged with Governance

For the year ended June 30, 2024

293

294

March 31, 2025

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

We have audited the financial statements of the City of Pittsburg (City) as of and for the year ended June 30, 2024, and have issued our report thereon dated March 31, 2025. Professional standards require that we advise you of the following matters relating to our audit.

Our Responsibility in Relation to the Financial Statement Audit and the Single Audit

As communicated in our engagement letter dated September 16, 2024, our responsibility, as described by professional standards, is to form and expre ss an opinion about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America.

Our audit of the financial statements does not relieve you or management of your respective responsibilities.

Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement. An audit of financial statements includes consideration of the system of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control over financial reporting. Accordingly, as part of our audit, we considered the system of internal control of the City solely for the purp ose of determining our audit procedures and not to provide any assurance concerning such internal control.

We also considered internal control over complianc e with requirements that could have a direct and material effect on a major federal program in or der to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with the Uniform Guidance.

We are also responsible for communi cating significant matters related to the audit that are, in our professional judgment, relevant to your responsibilities in overseeing the financial reporting process.

However, we are not required to design procedures for the purpose of identifying other matters to communicate to you.

We have provided our findings regarding significant control deficiencies over financial reporting and other matters noted during our audit in a separate letter to you dated March 31, 2025. 1 295
To the Honorable Mayor and Members
of the City Council of the City of Pittsburg
Pittsburg, California

Page 2 ends

Pittsburg City CouncilApril 21, 2025

Pittsburg City Council
April 21, 2025