SOURCE DOCU MENT:
STRATEGIC PLAN GOAL: Infrastructure, Facilities & Public Spaces
PROJECT PHASE
FY 25/26
FY 26/27
FY 27/28
FY 28/29
FY 29/30
Planning
De sign
Con stru ctio n
Other
$ 60,000
$
FUNDING SOURCES
FY 25/26
FY 26/27
$ 60,000
FY 27/28
FY 28/29
FY 29/30
Techno lo gy Impact Fees
TOTAL
$
$ 60,000
TOTAL PROJECT COST:
$ 60,000
PROJECT STATUS:
C ATEGORY:
New
Technology
CITY OF PL ACENTI A
MICAPITAL IMPROVEMENT PROJECT I NFORMATION
PROJECT TITLE: City Facilities
Server/Network Upgrades
PRO JECT #: 27-602
DEPARTMENT:
Information Technology
DEPT. PROJECT MGR:
Daniel Chang
SCHEDULE:
Design Complete:
Construction Complete:
P roject Delivery:
FY 2026/27
PROJECT LOCATION
CITYWIDE
PROJECT DESCRIPTION: Replace and upgrade server and network infrastructure hardware for all City facilities
PROJECT NEED:
SOURCE DOCUMENT:
This project will improve network security, performance and reduce chance of failure with up-to-date technology enhancements.
N/A
STRATEGIC PLAN GOAL: Infrastructure, Facilities & Public Spaces
PROJECT PHASE
FY 25/26
FY 26/27
FY 27/28
FY 28/29
FY 29/30
Planning
De sign
Con stru ctio n
Other
$ 60,000
$
FUNDING SOURCES
FY 25/26
FY 26/27
$ 60,000
FY 27/28
FY 28/29
FY 29/30
Measure U
TOTAL
$
$ 60,000
TOTAL PROJECT COST:
$ 60,000
PROJECT TYPE:
CATEGORY:
New
Technology
CITY OF PLACENTIA
CAPITAL IMPROVEME NT PROJECT INFORMATIO
PROJECT TITLE: Public S afety IT
Infrastructure Project
PROJECT #: 27-603
DEPARTMENT:
Information Technology
DEPT. PRO JECT M GR:
Daniel Chang
SCHEDULE:
D esign Complete:
Con struction Complete:
Project Delivery:
FY 2026/27
PROJECT LOCATION
CITYWIDE
PROJECT DESCRIPTI ON:
PROJECT NEED:
SOURCE D OCUMENT:
PD Network Segmentation from general City network . IP schema redesign, switch/firewall deployment, CJIS-compliant isolation from City network. Also includes domain .gov transition for compliance with California AB 1637.
Required by state law for all local agencies by 2029
Domain transition required by state law for all local agencies by 2029. Other improvements ensure complaince with criminal justice information services federal recommendations
IT Master Plan
STRATEGIC PLAN GOAL: Public Safety
PROJECT PHASE
FY 25/26
FY 26/27
FY 27/28
FY 28/29
FY 29/30
Pla nning
Design
Constru ction
Other
_
$ 80,000
-
TOTAL
$
$ 80,000
FUNDING SOURCES
FY 25/26
FY 26/27
FY 27/28
FY 28/29
FY 29/30
Techn ology Impact Fees
$ 80,000
$
TOTAL PROJECT COST:
$ 80,000
PROJECT STATUS:
CATEGORY:
New
Techn ol ogy
CITY OF PLACENTIA
CAPIT AL IMP RO VEMENT PROJECT INFORMATION
PROJECT TITLE: Los Vaqueros Playground
Renovation Project
PROJECT #: 27-701
DEPA RTM ENT:
Community Services
DEPT. PRO JECT MGR:
Lydie Gutfeld
SCHEDULE:
Design Complete:
Construction Complete:
Pro ject Delivery:
FY 2026/27
FY 2026/27
FY 2026/27
PROJECT LOCATION
PROJECT DESCRIPTION: Aging playground at Parque de los Vaqueros is in need of replacement .
Proposed playground would be in a fort theme.
PROJECT NEED:
SOURCE DOCUMENT:
Parque de los Vaqueros is in need of playground replacement. Survey results showed that community within walking distance wants an updated fort themed option and more ammenities f or the neighborhood .
N/A
STRATEGIC PLAN GOAL: Infrastructure, Facilities & Public S Daces
PROJECT PHASE
FY 25/26
FY 26/27
$ 325,000
$
FUNDING SOURCES
FY 25/26
FY 26/27
$ 325,000
FY 27/28
FY 28/29
FY 29/30
To ll Bro the rs Fu nd
Park D 1F
TOTA L
$ 325,000
TOTAL PROJECT COST:
$ 325,000
PROJECT TYPE:
CATEGORY:
New
Parks
CITY OF PLACENTIA
CAPITAL IMPROVEME NT PROJECT I NFORMATIO
PROJECT TITLE: Samp Park Exercise
Equipment
PROJECT #: 27-702
DEPARTMENT:
Community Services
DEPT. PRO JECT MGR:
Lydie Gutfeld
SCHEDULE:
Design Complete:
Con struction Complete:
Project Delivery:
FY 2026/27
FY 2026/27
PROJECT DESCRIPTI ON: This project will install approximately 5-10 pieces of exercise equipment and the necessary concrete pad.
PROJECT NEED: The existing park currently has no eexercise equipment that caters to the surrounding community.
SOURCE DOCUMENT: N/A
STRATEGIC PL AN GOAL: Infrastructure, Facilities & Public Spaces
PROJECT PHASE
FY 25/26
FY 26/27
FY 27/28
FY 28/29
FY 29/30
Planning
De sign
Constructi on
Other
$ 75,000
$
FUNDING SOURCES
FY 25/26
FY 26/27
$ 75,000
FY 27/28
FY 28/29
FY 29/30
Toll Brothers Fu nd
TOTAL
$
$ 75,000
TOTA L PROJECT COST:
$ 75,000
PROJECT TYPE:
CATEGORY:
New
Parks
CITY OF PL ACENTI A
MP' • VEME ' ROJEC
PROJECT TITLE: Police Vehicle Outfitting (4
vehicles)
PROJECT #: 27-801
DEPARTMENT:
Police
DEPT. PROJECT MGR:
Tom McKenzie/Teri Knutson
SCHEDULE:
Design Complete:
Construction Complete:
Project Delivery:
FY 2026/27
FY 2026/27
FY 2026/27
PROJECT LOCATION
CITYWIDE
PROJECT DESCRIPTI ON: The lease of (4) Dodge Durangos and required outfitting.
PROJECT NEED: With the 24/7 type of operational schedule PD vehicles endure, they are recommended for replacement between 70-80k miles . Beyond that mileage maintenance costs and vehicle down time drastically increase SOURCE DOCUMENT: N/A
STRATEGIC PLAN GOAL: Public Safety
PROJECT PH ASE
FY 25/26
FY 26/27
FY 27/28
FY 28/29
FY 29/30
Pla nni ng
De sign
Constru ctio n
Other (Lease)
Ou tfitting
$ 125,000
TOTAL
$
$ 125,000
FUNDING SOURCES
FY 25/26
FY 26/27
$ 125,000
FY 27/28
FY 28/29
FY 29/30
Measure U
TOTAL
$
$ 125,000
TOTAL PROJECT COST:
$ 125,000
PROJECT TYPE:
New
CATEGORY: Vehicles & Equipment
CITY OF PL ACENTI A
L IMPROVEME NT PROJECT INFORMATION
PROJECT TITLE: Fire Department Radio
Replacement
PROJECT #: 27-802
DEPARTMENT:
Fire
DEPT. PROJECT MGR:
Api Weinert/Crystal Adams
SCHEDULE:
Design Complete:
Construction Complete:
Project Delivery:
FY 2026/27
PROJECT LOCATION
CITYWIDE
PROJECT DESCRIPTI ON:
PROJECT NEED:
S OURCE DOCUMENT:
STR ATEGIC PLAN GOAL:
Additional radios for Fire and Life Safety: (3) Replacement radios with comprehensive installation package, and additional batteries to replace the ones purchased in 2020.
As the department increases in size, we begun utilizing the radios set for strike teams/reserves and reassigning them to our front line staff. We need additional radios to replace our reserve radios and replace frontline equipment (batteries, lapel mics, etc.) purchased in 2020.
N/A
Public Safet
PROJECT PHASE
FY 25/26
FY 26/27
FY 27/28
FY 28/29
FY 29/30
Planning
Design
Co nstructio n
O ther (Purcha se)
$ 40,000
TOTAL
$
$ 40,000
-
FUNDING SOURCES
FY 25/26
FY 26/27
FY 27/28
FY 28/29
FY 29/30
Measure U
$ 40,000
-
T
TOTAL
$
$ 40,000
TOTA L PROJECT COST:
$ 40,000
PROJECT TYPE:
C ATEGORY:
New
Vehicles & Equipment
FY2025-26 Ongoing Capital Projects
Project Type
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities
City Buildings & Faciulities Total
Project Description
105213 - Public Safety Building
105213 - Public Safety Building
26-501 Fuel Tank Replacement
26-502 Whitten Center Kitchen Renovation
26-503 Aguirre Building Renovation
26-504 Powell Building Improvement Project - Windows
505003 - Powell Build HVAC
586508 - Council Chambers / Media Room
675311- Refurbish PD Motor Barn
685503 -117 N. Main Street Demo
795003- Powell Building Improvement Pr
795505 - Removal of Corp Yd Gas Tank
795510 - Tynes Gym Roof Replacement
796508 - Council Chambers / Media Room
Funding Source
101- General Fund
221- Technology Impact Fees
102 - Measure U
307 - Parks & Rec Impact Fee
307 - Parks & Rec Impact Fee
225 - State Grants
DNU-280 - Misc Grant Fund
214 -PEG
301- Public Safety Impact Fee
304 -Affordable Housing Impact Fee
102 - Measure U
102 - Measure U
102 - Measure U
102 - Measure U
Project Balances
1,094,626
(3,802)
543,894
30,000
40,000
112,350
167,528
62,615
25,000
55,000
175,000
95,913
10,964
2,890
2,411,977
Major Studies
Major Studies
Major Studies
Major Studies
Major Studies
Major Studies
Major Studies
Major Studies
Major Studies Total
109402- IT Strategic Plan & Smart City
749104 - Chapman Corridor
749504 - DIF Update and Creation of Suc
749505 - SP5 Update
749506 - CEQA Updates
749507 - Housing Element Update 2025
796506 - Develop Cybersecurity Plan
799202- EFID Design
101- General Fund
208 - General Plan Update Fees
208 - General Plan Update Fees
208 - General Plan Update Fees
208 - General Plan Update Fees
208 - General Plan Update Fees
102 - Measure U
102 - Measure U
16,940
241,882
61,076
98,000
47,597
93,800
60,000
13,113
632,407
Parks
Parks
Parks
Parks
Parks
Parks
Parks
Parks
Parks
Parks
Parks
Parks
Parks
Parks Total
26-702 Samp and Los Vaqueros Park Playground Renovations 26-703 Replace Park Benches
26-705 Los Vaqueros Storm Drain
507313 - Jaycee Parkette Renovation
637502 - Restroom Renovations (Citywide
637504 - McFadden Park Playground Reno
637506 - Tuffree Park Sports Fields Lig
697202- Kraemer Park Memorial Fountain
697210 - Playground Resurfacing (Variou
697212- McFadden Pergola Replacement
697303 - Replace Park Benches
797311- Gomez Park Landscape Improveme
797507 - Tuffree Park Sidewalk Replacem
225 - State Grants
307 - Parks & Rec Impact Fee
307 - Parks & Rec Impact Fee
DNU-280 - Misc Grant Fund
307 - Parks & Rec Impact Fee
307 - Parks & Rec Impact Fee
307 - Parks & Rec Impact Fee
307 - Parks & Rec Impact Fee
302 - Quimby In Lieu Imapct Fee
302 - Quimby In Lieu Imapct Fee
302 - Quimby In Lieu Imapct Fee
102 - Measure U
102 - Measure U
600,000
60,000
150,000
521,179
28,000
90,000
44,013
6,407
150,000
50,000
49,270
24,701
64,649
1,838,219
Sewer
Sewer
Sewer Total
103101 - TOD/Crowther Sewer Project
713101- TOD/Crowther Sewer Line Projec
101- General Fund
308 - TOD Sewer Impact Fee
8,731
47,876
56,607
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
Streets & Streetscapes
101206 - Caltrans Public Art Program
107507 - Tuffree Park Sidewalk Replacem
186098 - FY 23-24 Roadway Rehab Constru
26-101 Old Town Streetscape Improvements
26-102 FY 25-26 Annual Sidewalk and Curb Ramp Repairs
26-103 Golden Avenue Bridge Replacement Project Construction 26-103 Golden Avenue Bridge Replacement Project Construction 26-104 FY 24-25 Residential Street Rehabilitation
26-104 FY 24-25 Residential Street Rehabilitation
26-104 FY 24-25 Residential Street Rehabilitation
26-104 FY 24-25 Residential Street Rehabilitation
331201- FY 2021-22 Roadway Rehab Proj
331506 - FY23-24 Residential Slurry
331801- GoldenAv Bridge JL61116
336098 - FY 23-24 Roadway Rehab Constru
506098 - FY 23-24 Roadway Rehab Constru
606098 - FY 23-24 Roadway Rehab Constru
791502 - FY 24-25 Concrete Repair Progr
791503 - FY 24-25 Annual Tree Planting
791506 - FY23-24 Residential Slurry
796098 - FY 23-24 Roadway Rehab Constru
861501- Old Town Streetscape Improveme
101- General Fund
101- General Fund
211- Measure M
206 - EIFD
204-CDBG
102 - Measure U
224 - Federal Grants
102 - Measure U
211- Measure M
217 - State Gas Tax - RMRA
218 - State Gas Tax
505 - City Capital Projects
505 - City Capital Projects
505 - City Capital Projects
505 - City Capital Projects
DNU-280 - Misc Grant Fund
217 - State Gas Tax - RMRA
102 - Measure U
102 - Measure U
102 - Measure U
102 - Measure U
206 - EIFD
32,170
254,280
276,345
150,000
34,838
819,575
3,502,724
295,424
654,176
1,414,458
151,548
62,145
10,000
2,493,905
51,300
557,000
218,076
20,445
6,670
140,703
277,233
9,770,060
219
FY2025-26 Ongoing Capital Projects
Project Type Project Description
Funding Source Project Balances
Streets & Streetscapes Total 21,193,075
Technology
Technology
Technology
Technology Total
26-601 Desktop Computer Replacement Program
26-603 Public Safety Operations HW Upgrades
26-604 City Facilities Server/Network Upgrades
221- Technology Impact Fees
221- Technology Impact Fees
221- Technology Impact Fees
45,980
42,963
39,803
128,746
Traffic & Transportation 192002 - Orangethorpe TS Sync
Traffic & Transportation 192203 - Rose/Tustin Regional Traffic S Traffic & Transportation 192504 - Yorba Linda TSSP
Traffic & Transportation 192808-ImpHwy TS Synch-JL68010 Traffic & Transportation 192809 - ChapMalTSSynch-JL68004 Traffic & Transportation 26-201 Citywide Signal Hardware Upgrades Traffic & Transportation 26-202 Safe Streets for All
Traffic & Transportation 26-202 Safe Streets for All
Traffic & Transportation 26-203 Highway Safety Improvement Program (HSIP) Cycle 12 Traffic & Transportation 26-203 Highway Safety Improvement Program (HSIP) Cycle 12 Traffic & Transportation 332908 - HSIP Traffic Singals
Traffic & Transportation 502502 - Atwood Trail Project
Traffic & Transportation 502504 - Yorba Linda TSSP
Traffic & Transportation 602503- Residential Streets Curb Ramps Traffic & Transportation 652002 - Orangethorpe TS Synchro Traffic & Transportation 652203 - Rose/Tustin Regional Traffic S Traffic & Transportation 692502 - Atwood Trail Project - Final E Traffic & Transportation 702001- TOD Traf Mitigation
Traffic & Transportation Total
201- Air Quality Management
201- Air Quality Management
201- Air Quality Management
201- Air Quality Management
201- Air Quality Management
303 - Traffic Impact Fee
102 - Measure U
225 - State Grants
102 - Measure U
225 - State Grants
505 - City Capital Projects
226 - County Grants
DNU-280 - Misc Grant Fund
217 - State Gas Tax - RMRA
303 - Traffic Impact Fee
303 - Traffic Impact Fee
302 - Quimby In Lieu Imapct Fee
310 - TOD Traffic Impact Fee
22,000
53,000
27,695
5,280
45,638
154,848
30,000
120,000
28,110
252,990
634,865
65,852
105,001
27,736
8,000
100,000
37,200
181,382
1,899,597
Vehicles and Equipment 108501- Reserve Fire Truck
Vehicles and Equipment 26-801 Fleet Lift Replacement
Vehicles and Equipment 26-802 Fire Department Equipment Vehicles and Equipment Total
Grand Total
101- General Fund
503 - Equipment Replacement
311- Fire Impact Fee
170,000
35,000
29,709
234,709
28,395,337
220
7 Year Capital Projects
Project
FY 24-25 Residential Street Rehabilitation
$ 4,505,951
$ 4,505,951
FY 2025-26 Street Resurfacing and Slurry Seal Projects
$ 4,731,248
$ 4,731,248
FY 2026-27 Street Resurfacing and Slurry Seal Projects
$ 4,967,811
$ 4,967,811
FY 2027-28 Street Resurfacing and Slurry Seal Projects
$ 5,216,201
$ 5,216,201
FY 2028-29 Street Resurfacing and Slurry Seal Projects
$ 5,477,011
$ 5,477,011
FY 2029-30 Street Resurfacing and Slurry Seal Projects
$ 5,750,862
$ 5,750,862
FY 2030-31 Street Resurfacing and Slurry Seal Projects
$ 6,038,405
$ 6,038,405
Repay Hamer Island Infrastructure Fund
$ 350,000
$ 350,000
FY 25-26 Annual Sidewalk and Curb Ramp Repairs
$ 175,000
$ 175,000
FY 2026-27 Co ncrete Repair Program
$ 183,750
$ 183,750
FY 2027-28 Co ncrete Repair Program
$ 192,938
$ 192,938
FY 2028-29 Co ncrete Repair Program
$ 202,584
$ 202,584
FY 2029-30 Co ncrete Repair Program
$ 212,714
$ 212,714
FY 2030-31 Co ncrete Repair Program
$ 223,349
$ 223,349
FY 2031-32 Concrete Repair Program
$ 234,517
$ 234,517
FY 2026-27 Annual Tree Planting Project
$ 40,000
$ 40,000
FY 2027-28 Annual Tree Planting Project
$ 45,000
$ 45,000
FY 2028-29 Annual Tree Planting Project
$ 50,000
$ 50,000
FY 2029-30 Annual Tree Planting Project
$ 55,000
$ 55,000
FY 2030-31 Annual Tree Planting Project
$ 60,000
$ 60,000
FY 2031-32 Annual Tree Planting Project
$ 63,000
$ 63,000
TO D Wayfinding Signage Project (with Gantry Sign) Phase 3 $ 750,000
$ 750,000
Old Town Streetscape EIFD Improvement Project
$ 150,000
$ 11,000,000
$ 11,150,000
Go lden Avenue Bridge Replacement Project Constructio n $ 3,582,340
$ 3,582,340
Total Stree ts & Stree tscapes
$ 8,413,291
$ 5,304 ,998
$ 16, 205,748
$ 6 ,218,786
$ 5 ,744,725
$ 6,034,211
$ 6,335,92 2
$ 54,257 ,681
Richfield/M iraloma and Miraloma/Van Buren Traffic Signal Improvements $ 400,000
$ 400,000
Traffic Co ntrol Sign Reflectivity Study
$ 300,000
$ 300,000
Yo rba Lin da Bo ulevard Traffic Signal Synchronizatio n Pro ject $ -
Bastanchury Ro ad Traffic Signal Synchronizatio n Pro ject $ 200,000
$ 200,000
Placen tia Av enue Traffic Signal Synchronization Pro ject $ 200,000
$ 200,000
Chapman Av enue Traffic Signal Synchron iz atio n Pro ject $ 220,000
$ 220,000
Kraemer Bo ulev ard Traffic Signal Synchron izatio n Project $ 220,000
$ 220,000
2019 SSARP In tersectio n Project #1
$ 426,000
$ 426,000
2019 SSARP Intersectio n Project #5
$ 35,500
$ 35,500
2019 SSARP Intersectio n Project #9
$ 15,000
$ 15,000
2019 SSARP Intersectio n Project #10
$ 71,000
$ 71,000
2019 SSARP Intersectio n Project #13
$ 28,400
$ 28,400
2019 SSARP Intersectio n Project #14
$ 14,200
$ 14,200
2019 SSARP Intersectio n Project #15
$ 355,000
$ 355,000
2019 SSARP Ro adway Segment Pro ject #2
$ 497,000
$ 497,000
2019 SSARP Ro adway Segment Pro ject #4
$ 170,400
$ 170,400
2019 SSARP Ro adway Segment Pro ject #6
$ 426,000
$ 426,000
2019 SSARP Ro adway Segment Pro ject #14
$ 142,000
$ 142,000
2019 SSARP Ro adway Segment Pro ject #15
$ 20,000
$ 20,000
2019 SSARP Ro adway Segment Pro ject #16
$ 355,000
$ 355,000
Intersectio n Safety Light LED Conversion Pro ject
$ 250,000
$ 250,000
2023 LRSP Pedestrian Signal Upgrade Project
$ 588,200
$ 588,200
2023 LRSP Citywide Signal Hardware Upgrade
$ 154,848
$ 118,052
$ 272,900
FY 25/26
FY 26/27
FY 27/28
FY 28/29
FY 29/30
FY 30/31
FY 31/32
Grand T otals
550
7 Year Capital Projects
Project
2023 LRSP Signal Timing Impr ovements *
$ 512,720
$ 512,720
2023 LRSP Access M anagement at Signalized Intersections * $ 1,460,000
$ 1,460,000
2023 LRSP Pedestrian Improvements at Non -Signalized Intersecti ons * $ 305,750
$ 305,750
2023 LRSP Adv anced Dilemma Zone Detection Devices *
$ 595,000
$ 595,000
* multiple loca tions , ca n be included with individual street resurfa cing proje cts
Tota l Tra ffic a nd Tra ns porta tion Ops $ 154,848 $ 815,352 $ 1, 243,150 $ 1,822,720 $ 1, 292,000 $ 2 ,532 ,000 $ 220,000 $ 8 ,080,070
O ld To wn Sewer Rehab Project
$ 1,800,000
$ 1,800,000
A2 Sewer Capacity Project - 2018 Sewer Master Plan
$ 3,200,000
$ 3,200,000
A3 Sewer Capacity Project - 2018 Sewer Master Plan
$ 4,626,000
$ 4,626,000
A4 Sewer Capacity Project - 2018 Sewer Master Plan
$ 1,677,000
$ 1,677,000
A5 Sewer Capacity Project - 2018 Sewer Master Plan
$ 2,391,000
$ 2,391,000
A6 Sewer Capacity Project - 2018 Sewer Master Plan
$ 634,000
$ 634,000
A7 Sewer Capacity Project - 2018 Sewer Master Plan
$ 393,000
$ 393,000
B1 Pipeline Rehab Project - 2018 Sewer Master Plan
$ 456,000
$ 456,000
B2 Pipeline Rehab Project - 2018 Sewer Master Plan
$ 561,000
$ 561,000
B3 Pipeline Rehab Project - 2018 Sewer Master Plan
$ 945,000
$ 945,000
M anho le Rehab Project (walls) - 2018 Sewer Master Plan $ 243,000
$ 243,000
M anho le Rehab Project (bench/channel) - 2018 Sewer M aster Plan $ 35,000
$ 35,000
To ta l Se wer $ - $ 1,800, 000 $ 1 ,223, 000 $ 4, 290, 000 $ 5 ,580 , 000 $ 1,677,000 $ 2,391, 000 $ 16,961, 000
Bradfo rd Av enue Sto rm Drain Impro vement Project
$ 108,000
$ 108,000
Walnut Av enue Storm Drain Improv ement Project
$ 129,000
$ 129,000
Seav iew Circle Storm Drain Improvement Pro ject
$ 505,000
$ 505,000
Kev in Way Sto rm Drain Improvement Project
$ 524,000
$ 524,000
Sunset Dr Storm Drain Improvement Pro ject
$ 105,000
$ 105,000
Kraemer Park Storm Drain Improvement Pro ject
$ 34,000
$ 34,000
Naple/Pinehurst Av enue Strom Drain Improvement Pro ject $ 3,660,000
$ 3,660,000
Naple/Pinehurst Av enue Strom Drain Improvement Pro ject $ 3,660,000
$ 3,660,000
Pinehurst Avenue Stro m Drain Impro vement Pro ject
$ 1,985,000
$ 1,985,000
Tota l Sto rm Dra ins $ - $ 23Z000 $ 505,000 $ 663,000 $ 3,660,000 $ 3,660,000 $ 1 ,985 , 000 $ 10 ,710, 000
Whitten Center Kitchen Renovation
$ 30,000
$ 30,000
Aguirre Building Renovation
$ 40,000
$ 40,000
Powell Building Improvement Project - Windows
$ 112,350
$ 112,350
City Hall Roof Repairs
$ 1,000,000
$ 1,000,000
Tynes Gym Ro of Replacement Project
$ 300,000
$ 300,000
Civic Center Fountain Renovation Project
$ 300,000
$ 300,000
Civic Center Campus Lighting and Landscape Improvement Project $ 400,000
$ 400,000
City Yard Administrative Building Reno vation Pro ject
$ 500,000
$ 500,000
Tynes Gym Renovation Project
$ 1,500,000
$ 1,500,000
Water To wer Renovation Project
$ 150,000
$ 150,000
Fuel Tank Replacement Project
$ 220,000
$ 220,000
City Hall Switchgear replacement
$ 1,000,000
$ 1,000,000
FY 25/26
FY 26/27
FY 27/28
FY 28/29
FY 29/30
FY 30/31
FY 31/32
Grand Totals
Tota l City Buildings & Fa cilities
$ 1,402, 350
$ .4100,000
$ 2,900, 000
$ 150, 000
$ 5 ,552,350
551
7 Year Capital Projects
Project
$
525,000
Deskto p Co mputer Replacement Program
$ 75,000
$
75,000
$
75,000
$ 75,000
$ 75,000
$
75,000
$ 75,000
Enterprise Camera and Security Upgrades
$ 95,535
$
95,535
Public Safety Operations HW Upgrades
$ 75,000
$
75,000
City Facilities Server/Network Upgrades
$ 50,000
$
50,000
$
50,000
$ 50,000
$ 50,000
$
50,000
$ 50,000
$
350,000
Tota l Te chnology $ 295,535 $
1 25 ,000 $
125 ,000 $ 125 ,000 $ 125,000 $
125,000 $ 125,000
$
1,045, 535
Samp & Lo s Vaqueros Park Reno vation Project
$ 600,000
$
600,000
Kraemer Park Fountain Renovation Project
$
750,000
$
750,000
Tuffree Park Spo rts Field Renov ation Pro ject
$ 500,000
$
500,000
Champio ns Spo rts Park Renovation Project
$ 650,000
$
650,000
Bradfo rd Park Renov ation Pro ject
$
500,000
$
500,000
Tynes Gym Ro of Replacement
$ 255,000
$
255,000
Kraemer Park Renovation Project
$ 700,000
$
700,000
Replace Park Benches
$ 60,000
$
60,000
Whitten Center Pool ADA Renovatio n
$
750,000
$
750,000
Los Vaqueros Storm Drain
$ 150,000
$
150,000
To tal P arks $ 1 ,065,000 $ 1,500,000 $
- $ 500,000 $ 650 ,000 $
500,000 $ 700,000 $
4,915,000
Fleet Lift Replacement
$ 35,000
$
35,000
Fire Department Equipment
$ 17,200
$
18,060
$
18,963
$ 19,911
$ 100,000
$
21,902
$ 22,997
$
219,034
Annual Vehicle Replacemen t Program
$
500,000
$
500,000
Ann ual Vehicle Replacement Program
$
525,000
$
525,000
Annual Vehicle Replacement Program
$ 551,250
$
551,250
Annual Vehicle Replacement Program
$ 578,813
$
578,813
Ann ual Vehicle Replacement Program
$
607,753
$
607,753
Annual Vehicle Replacemen t Program
$ 638,141
$
638,141
Tota l Ve hidesa ndEquip me nt $ 52,200 $
518,060 $
543,963 $ 571,161 $ 678,813 $
629,655 $ 661,138
$
3,654 ,990
Smart City Master Plan
Tota l Ma jor Studies
$ - $
- $
- $ - $ - $
-
$
-
FY 25/26
FY 26/27
FY 27/28
FY 28/29
FY 29/30
FY 30/31
FY 31/32
Grand Totals
Tota l A ll P ro je cts
$ 11,383,224 $ 11, 400,410 $ 2 2,745,861 $ 14,340,667 $ 1Z730,537 $ 15,157,867 $ 12,418,060 $ 105,176 ,626
552
GANN APPROPRIATIONS LIMIT
In November 1979 the voters of the State of California approved Proposition 4, commonly known as the "Gann Initiative" or "Gann Limit." The Proposition created Article XIIIB of the State Constitution placing limits on the amount of revenue which can be spent by all entities of government from the "proceeds of taxes." Proposition 4 became effective for the 1980-81 fiscal year, but the formula for calculating the limit was based on the 1978-79 "base year" revenues, with adjustments being made annually to reflect increases in population and cost of living.
Section 9710 of the California Government Code, added in 1980 by the State Legislature, provides that "each year, the governing body of each local jurisdiction shall, by resolution, establish its appropriations limit for the following year." In June of 1990 the California Voters approved Proposition 111. Among other things, Proposition 111 provided new adjustment formulas, which make the Appropriations Limit more responsive to local growth issues. Only tax proceeds are subject to the limit. Charges for services, regulatory fees, grants, loans, donations and other non - tax proceeds are not subject to the limit. Proposition 111 also established a requirement for an annual review of Limit calculations. Each year the City Council must adopt by resolution the City's appropriations limit for the following year. The following is the calculation for the City's Gann Appropriations Limit for FY2026-27.
The City of Placentia's annual appropriation limit has been determined in accordance with Article XIIIB of the California State Constitution and Section 7902 of the California Government Code. The City will be below its legal appropriations limit by $77,685,254 using the per capita personal income growth and county population growth factors.
GANN APPROPRIATIONS LIMIT CALCULATION FY 2026-27
FY 2025-26 Appropriations Limit
$128,022,711
Population Growth (City or County) = -0.02%
0.9800
Cost of Living (Per Capita or Non-residential construction growth) = 4.95%
1.0495
FY 2026-27 Appropriations Limit
($128,022,711 x 0.9800 x 1.0495)
$131,672,638
224
GANN APPROPRIATIONS LIMIT
Appropriations Table
140,000,000
120,000,000
100,000,000
80,000,000
60,000,000
40,000,000
20,000,000
0 N. N. N. tiro t ti% ti� "V 'V "V L'' "V "V ti� tit
N. ti N. ti� ti1 ti� ti ti� "V titi tiV "V 'V ti�
LO "V 'LO 'V LO 1O "V 1O 1O 'V 1O "V LO 1O "V
• Legal Limit • Appropriations • Amount Under
554
FINANCIAL POLICIES
One of the chief responsibilities of the City of Placentia to its residents is the care of public funds.
These budget and financial management policies are designed to ensure the fiscal stability of the City of Placentia and guide the development and administration of the annual operating and capital improvement budgets through wise and prudent management of municipal finances, while providing for the adequate funding of the services desired by the public and the maintenance of public facilities.
Objectives
The City's financial objectives address revenues, cash management, expenditures, debt and risk management, capital needs, budgeting and management. Specific objectives are:
➢ To protect the policy -making ability of the City Council by ensuring important policy decisions are not dictated by financial problems or emergencies. ➢ To assist City management by providing accurate and timely information on financial conditions.
➢ To provide sound principles to guide the fiscal decisions of the City Council and City management.
➢ To provide essential public and capital facilities and prevent their deterioration. ➢ To set forth operational principles that minimize the cost of government and financial risk, to the extent consistent with services desired by the public. ➢ To enhance the policy -making ability of the City Council by providing accurate information on program costs.
➢ To employ revenue policies that seek to prevent undue or unbalanced reliance on one or a relatively few revenue sources; and,
➢ To implement a system of internal controls that ensures the legal and appropriate use of all City funds
BUDGET POLICIES
The City develops an annual
Operating Budget which:
➢ Establishes budgets for
all funds of the City
➢ Is balanced as to
resources and
appropriations
➢ Does not exceed state
constitutional limits
➢ Is adopted prior to the
beginning of the fiscal
Departments begin
preparing their indivival
budgets
February 2026
Fiscal Year Begins
July 1, 2026
Budget Approval
City Council
June 2026
City Administrator presents
Proposed FY2026/27 Budget
to Public and City Council
May 2026
Finance finalizes revenue
projections, internal
service charges and
personnel expenses
April 2026
Finance and Public
Works finalize Capital
Improvement Plan
226
FINANCIAL POLICIES
year in which they are to take effect
➢ Allows adjustments to the budget throughout the fiscal year with proper approvals ➢ Utilizes encumbrances of appropriations as a budgetary control technique ➢ Is adopted by resolution of the City Council
➢ Exercises budget controls at the department level
Balanced Budget
The City Administrator will present a balanced budget for adoption by the City Council prior to the beginning of the fiscal year. A balanced budget is defined as operating revenues equal to or greater than operating expenditures, including any debt service obligations. In some years, it is allowable for total expenditures to exceed revenues with the difference supported by unassigned fund balance, if necessary to fund capital improvements projects or other one-time, non -recurring expenditures.
Budget Process & Calendar
The City of Placentia operates on a fiscal year basis, starting July 1 and ending June 30. The budget is prepared by the Finance Department with the support of each operating department under the direct supervision of the City Administrator.
The Finance Department is responsible for coordinating all revenue estimates contained in the budget. Estimates are reached by analyzing revenue history; national and local economic trends and indices; and development patterns in our local economy. Revenue projections used in the context of the annual budget are based on conservative assumptions to assure the City has adequate financial resources to meet its obligations and complete all programs approved by the City Council within the course of the fiscal year. When appropriate, these assumptions and specific program allocations are adjusted during the fiscal year.
The Finance Department coordinates the development of the expenditure and internal service budgets with the support of each operating department and the City Administrator.
The proposed budget is then presented to the City Council and the community in public workshop meetings in May and June for review, public input, and deliberation. After providing opportunities for public review and discussion at City Council workshops and City Council meetings, the budget is adopted by the City Council prior to June 30 at either a regular or special City Council meeting.
After adoption, the budget may be amended by the City Council.
Budget Structure:
The budget is prepared using Modified Accrual Basis, which recognizes revenues when they are measurable and available, and expenditures are recognized when the liability is incurred (except long term items like debt).
227
FINANCIAL POLICIES
The General Fund budget, typically referred to as the operating budget, is the City's annual fiscal blueprint. The General Fund is a guide for the receipt and disbursement of funds used to provide daily, routine public services to the community. The General Fund outlines the many municipal services, programs and projects provided by the City during the fiscal year.
Special Funds are used to account for revenues and expenditures that are restricted by law or set aside for a special purpose. Each fund can be classified into one of six categories: Committed or Assigned General Fund Reserve, Special (Restricted), Capital Project, Debt Service, Enterprise, Internal Service, or Trust and Agency Funds.
The Capital Improvement Program (CIP) budget details the acquisition, construction or rehabilitation of major capital facilities and infrastructure within the current fiscal year. The CIP budget is used to account for the receipt and disbursement of funds for specific CIP projects. For many projects, revenue resources and expenditures may extend over several years and continuing appropriations will be a part of the annual budget to track multi -year capital projects. In addition, the City will update the seven-year Capital Improvement Plan each budget year. However, the adoption of the plan does not authorize the funding for projects beyond the current fiscal year.
Budget Administration
The Council may amend or supplement the budget at any time after its adoption by majority vote of the Council members. The City Administrator has the authority to make administrative adjustments to the budget as long as those changes will not have a significant policy impact nor affect authorized year-end fund balances.
Each operating department will be responsible for the bottom -line budget within each department/ fund. In addition, each department will ensure that adequate funds are available within each expenditure line item before a purchase is made. Departments are required to complete a budget transfer form and get approval to move budgeted money from one operating line item to another within the same fund. Only the City Administrator is authorized to transfer budgeted money from/to salaries, internal service or capital line items within the same fund.
Financial Reporting
On a regular basis, the Finance Department will evaluate financial performance relative to the adopted and adjusted budget, and prepare and present reports to the City Administrator, City Department Directors and Managers. The purpose of these reports is as follows:
➢ Provide an early warning of potential concerns and problems. ➢ Identify, investigate and correct accounting errors.
➢ Evaluate and explain significance of on -going variances. ➢ Give decision makers time to consider actions that may be needed if major deviations in budget -to -actual expenditures or revenues become evident.
General Fund Budgeting
228
FINANCIAL POLICIES
The basic format of the budget shall identify programs within organizational structures. Programs are defined as specific services provided to the public, other departments, or other organizations.
All assumptions, transfers and other relevant budget data shall be clearly stated.
The City will avoid budgetary procedures that balance current expenditures at the expense of meeting future years' expenses, such as postponing expenditures, accruing future years' revenues, or rolling over short-term debt. Where possible, the budget and subsequent status reports will integrate performance measurement and productivity indicators.
In instances where specific activities/purchases are authorized by the City Council in a certain fiscal year and remain incomplete and/or unexpended, revenues and/or fund balance may be carried forward, at City Council's discretion, into the next fiscal year to support such activities/purchases through the continuing appropriation authorization.
Provisions will be made for adequate maintenance of capital and equipment and for orderly rehabilitation and replacement within available revenue and budgetary limits. To show the true cost of services, revenues and expenditures will be budgeted and accounted for directly in the appropriate fund. Costs for services provided by Special Funds to General Fund activities will be budgeted as an expense in the General Fund and as revenue to the Special Fund.
Budgetary and accounting procedures will conform to Generally Accepted Accounting Principles (GAAP) for governmental agencies.
Special Fund Budgeting
The term "Special Funds" shall be used to identify all funds other than the General Fund, inclusive of the following fund types: General Reserve, Special Revenue, Capital Projects, Debt Service, Enterprise, and Internal Service Funds. Special Funds shall be created when legally required, requested by the City Council, or to facilitate internal accounting and financial reporting procedures.
The annual budget for each Special Fund shall be prepared in conjunction with the General Fund budget and shall be submitted to the City Council for adoption prior to the beginning of the fiscal year. Special Funds budgetary and accounting procedures will conform to GAAP.
Activities of the Special Funds shall be reported to the City Council on a regular basis consistent with General Fund reporting responsibilities. To show the true cost of services, revenues and expenditures will be budgeted and accounted for directly in the appropriate fund. Costs for services provided between funds will be budgeted as an expense in the fund receiving the services and as revenue to the fund providing the services.
229
FINANCIAL POLICIES
REVENUE MANAGEMENT POLICIES
Sources of Revenue
The City will strive to maintain a diversified and stable revenue portfolio to provide protection from short -run fluctuations in any single revenue source to promote consistent service levels.
Intergovernmental assistance shall be used to finance only those capital improvements that are consistent with the capital improvement plan and local government priorities, and whose operation and maintenance costs have been included in Operating Budget forecasts.
Programs and services funded by restricted revenue will be clearly designated as such. Restricted revenue shall only be used for purposes legally permissible and in a fiscally responsible manner.
Restricted revenues shall be used prior to unrestricted revenue as legally permissible.
The City shall develop and maintain methods of forecasting future revenues and expenditures.
These methods shall project the City's future revenues and expenditures through a variety of methods including, but not limited to, forecasts of the economy and future development of the City.
Revenue Collection
The City shall strive to improve its tax collection rate through legislative initiative and advocacy at the state level and cooperative effort at the county level.
Revenue Projection
The City will estimate General Fund revenues using an objective and analytical process, as well as documenting and maintaining specific assumptions. In instances where there is uncertainty as to assumptions, conservative revenue projections shall be provided.
Fees and Cost Recovery
User fees and charges shall be established at a level related to the direct and indirect cost of providing the service, wherever possible. The City will recalculate the full cost of activities supported by user fees to identify the impact of inflation and other cost increases. Fees shall be adjusted where appropriate to reflect these increases.
Development process costs and related administrative expenses shall be totally offset by development fees, wherever possible.
In setting user fees and cost recovery levels, the following factors will be considered:
Community -Wide versus Special Benefit- The level of user fee cost recovery should consider the community -wide versus special service nature of the program or activity. The use of general - 230
FINANCIAL POLICIES
purpose revenues is appropriate for community -wide services, while user fees are appropriate for services that are of special benefit to easily identified individuals or groups.
Service Recipient versus Service Driver After considering community -wide versus special benefit of the service, the concept of service recipient versus service driver should also be considered. For example, it could be argued that the applicant is not the beneficiary of the City's development review efforts: the community is the primary beneficiary; however, the applicant is the driver of development review costs, and as such, cost recovery from the applicant is appropriate.
Effect of Pricing on the Demand for Services: The level of cost recovery and related pricing of services can significantly affect the demand and subsequent level of services provided. At full cost recovery, this has the specific advantage of ensuring that the City is providing services for which there is genuinely a market that is not overly -stimulated by artificially low prices.
Conversely, high levels of cost recovery will negatively impact the delivery of services to lower income groups. This negative feature is especially pronounced, and works against public policy, if the services are specifically targeted to low-income groups.
Feasibility of Collection and Recovery: Although it may be determined that a high level of cost recovery may be appropriate for specific services, it may be impractical or too costly to establish a system to identify and charge the user. Accordingly, the feasibility of assessing and collecting charges should also be considered in developing user fees, especially if significant program costs are intended to be financed from that source.
Grants and Federal Funds
The City shall aggressively pursue all grant opportunities; however, before accepting grants, the City will consider the current and future implications of both accepting and rejecting the monies, including:
➢ The amount of matching funds required.
➢ In -kind services needed to be provided.
➢ Requirements for reporting, earmarking and level of effort requirements. ➢ The related operating expenses; and
➢ Length of grant and consequential disposition of service (i.e. is the City obliged to continue the services after the grant has ended).
Gifts, Bequests and Donations to the City
Gifts and donations to the City will be evaluated to determine what, if any, obligations are to be placed upon the City. Gifts and bequests will be considered as "over and above" basic City appropriations and recorded in accordance with the Generally Accepted Accounting Principles.
Any gift, donation and/or bequest given shall solely be used for the purpose intended by the donor.
Unrestricted gifts will be expended in a manner deemed best by the City Council and/ or appropriate board or commission.
231
FINANCIAL POLICIES
EXPENDITURE POLICIES
The City will maintain a level of expenditures which will provide for the public well-being and safety of the residents of the community.
City Council approval is required before expending General Fund or contingency reserves.
Unexpended expenditures budgeted in one fiscal year are not automatically carried over into the next budget year. In instances where the purpose for which the expenditure was budgeted has not been completed by the end of the fiscal year, it may be reauthorized in the following fiscal year through the continuing appropriations process. Multi -year CIP projects that are under construction will be carried into the next fiscal year utilizing the continuing appropriations process.
Staffing
The annual Operating Budget will fully appropriate the
resources needed for authorized regular staffing and will limit programs to the regular staffing authorized. The City Council will annually approve an Authorized Position
Control Schedule. Operating expenditure budgets which
have been changed solely as the result of City Council
approved labor agreements need not be re -approved by
the Council.
Overtime Management
Overtime should be used only when necessary and when other alternatives are not feasible or cost effective.
All overtime must be pre -authorized by a department head or designee unless it is assumed pre - approved by its nature. For example, overtime that results when an employee must respond to an emergency and/or overtime automatically created as a result of a memoranda of understanding.
Department operating budgets should reflect anticipated annual overtime costs and departments will regularly monitor overtime use and expenditures and will be held accountable for such expenditures.
When considering the addition of regular or temporary staffing, the use of overtime as an alternative will be considered. The department will take into account:
➢ The duration that additional staff resources may be needed. ➢ The cost of overtime versus the cost of additional staff. ➢ The skills and abilities of current staff.
➢ Training costs associated with hiring additional staff. 232
FINANCIAL POLICIES
Overtime which is reimbursable from another government agency such as Fire Strike Teams or mutual aid is not subject to the above requirements. However, such expenses and the resulting reimbursements require City Council approval.
Measure U
The City of Placentia is committed to sound financial policies that maximize the highest level of City services for the people of Placentia. The City Council recognizes the need to protect the City's assets and to ensure long-term financial sustainability.
In November 2018, Placentia voters overwhelmingly approved Measure U, a 1% sales tax increase to help fund the cost of much -needed infrastructure repairs and maintenance as well as public safety and other critical services. To ensure the Measure U funds are spent accordingly, the Placentia City Council voted to update the Policy 460, a reserve policy including guidelines for appropriating new ongoing or one-time unrestricted revenues to be used for specific purposes.
The purpose of these funding allocations is to ensure that the new reserve areas are prioritized long-term and ultimately improve the City's fiscal health. To ensure that the policy is applied consistently by future City administrations and Councils, any modification to this policy requires a supermajority or 4/5ths vote of the City Council. The current allocations of Measure U monies are:
233
FINANCIAL POLICIES
Before GF
Reserve (25%)
met
After GF Reserve
(25%) met
Infrastructure, Vehicles, and Equipment Reserve
40%
50%
Other Post -Employment Benefits (OPEB) Sustainability
Reserve
10%
10%
Employee Recruitment and Retention Reserve (including
additional staff)
30%
30%
General Fund Contingency Reserve
20%
10%
Lastly, Measure U also established an independent Citizens Oversight Committee. The Committee reviews and reports on all Measure U expenditure plans and financial reports to ensure spending is consistent with General Fund Reserve Policy No. 460, as outlined in the above table. The Citizens Oversight Committee will meet regularly at meetings that are open to the public.
ACCOUNTING POLICIES
Accounting and Annual Reporting Policies
The City's Annual Comprehensive Financial Report (ACFR) presents the government and its component units' (entities for which the government is considered to be financially accountable) financial and operating activities. The City's blended component units, although legally separate entities, are, in substance, part of the City's operations and financial data from these units are combined with data of the City. The City's financial statements and accounting records are maintained in accordance with the recommendations of the Governmental Accounting Standards Board (GASB).
The government -wide financial statements report information on all the non -fiduciary activities of the primary government and its component units. For the most part, the effect of inter -fund activity has been removed from these statements. Governmental activities, normally supported by taxes and inter -governmental revenues, are reported separately from business -type activities that rely, to a significant extent, on fees and charges for support. 234
FINANCIAL POLICIES
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government -wide financial statements. Major individual governmental funds are reported as separate columns in the fund financial statements. The government -wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund and fiduciary fund financial statements. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the providers have been met. As a general rule, the effect of inter -fund activity has been eliminated from the government - wide financial statements. Direct expenses have not been eliminated from the functional categories; indirect expenses and internal payments have been eliminated.
Amounts reported as program revenues include: 1) charges to customers or applicants for goods, services or privileges provided; 2) operating grants and contributions; and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes.
Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered available when they are collected within the current period or soon enough thereafter to pay liabilities of the current period.
For this purpose, the City considers revenues available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences are recorded only when payment is due.
Taxes, licenses and interest associated with the current fiscal period are all considered to be susceptible to accrual and are therefore recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered measurable and available only when the City receives cash.
The City reports the following governmental fund types:
➢ Special Revenue Funds account for proceeds of specific revenue sources that are legally restricted or otherwise designated for specific purposes. ➢ Debt Service Funds account for the accumulation of resources for and the payment of principal and interest on general long-term debt.
➢ Capital Projects Funds account for financial resources used for the acquisition or construction of infrastructure and major capital facilities.
The City reports the following proprietary funds:
235
FINANCIAL POLICIES
➢ The Sewer Maintenance Fund accounts for the fees and services for sewer activities. ➢ The Refuse Fund accounts for the fees and services for trash disposal.
Additionally, the City reports the following fund types:
➢ Internal Service Funds account for operations that provide services to other departments of the City on a cost reimbursement basis. These services include self-insurance (liability/workers compensation); acquisition, replacement and maintenance of the City's vehicle fleet & equipment; Strategic IT technology equipment; and employee benefits. ➢ The Other Post -Employment Benefit (OPEB) Trust Fund accounts for the resources set -aside for pre -funding OPEB obligations.
➢ Agency Funds are used to account for various activities in which the City acts as an agent, not as a principal. Agency funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations.
➢ Successor Agency activity is accounted for in a Private -Purpose Trust Fund.
Audit and Financial Reporting
Each year an audit will be conducted by an independent Certified Public Accountant Firm (CPA Firm). The selection of the independent CPA Firm shall be in conformance with the City's professional services bidding procedures. Generally, the City shall request bids for audit services no less frequently than every five years. The CPA Firm shall provide the City Council with an Audit Communication Letter addressing significant findings of the auditors in conjunction with their opinion on the City's Comprehensive Annual Financial Report. These reports shall be submitted to the City Council within sixty (60) days of receipt of the report.
During the annual budget process, the City will make available a preliminary year-end, unaudited, General Fund fund balance. It should be recognized, however, that the balance provided is subject to both unforeseen financial transactions of a material nature and subject to the findings of the independent audit. An audit verified year-end balance will be available by the end of December and will be included within the year-end financial analysis report.
The City will use generally accepted accounting principles in preparing its annual financial statements and will strive to meet the requirements of the GFOA's Award for Excellence.
INVESTMENT POLICIES
The City has adopted a formal Investment Policy that is reviewed annually and approved by the City Council. The City's Investment Policy is intended to provide specific criteria for the prudent investment of City funds with the goal of enhancing the economic status of the City while protecting pooled funds and meeting daily cash flow demands. 236
FINANCIAL POLICIES
The Investment Policy is in conformance with all
federal, state and local laws governing the investment
of monies under the control of the City Treasurer and
applies to the City's Pooled Investment Portfolio. The
portfolio includes the General Fund, Capital Project
funds, Debt Service funds, Trust & Agency, Proprietary
funds, Special Revenue funds, Reserve funds and
Other funds as created.
Financial assets held and invested by trustees or fiscal agents are subject to and governed according to the regulations established by the State of California pertaining to local agencies as well as any relative bond indentures or trust agreements.
Delegation of Authority
➢ The Placentia Municipal Code and the authority granted by City Council assign the responsibility of investing unexpended cash to the City Treasurer, an elected position. ➢ The City Treasurer may delegate daily investment activity, such as carrying out the treasurer's investment instructions, confirming treasury transactions and other routine activities.
➢ Investments with a maturity of greater than five years must be approved by the City Council.
Prudence
➢ The treasurer operates the City's pooled cash investment program under § 53600.3 of the California Government Code, applicable state laws, and a Prudent Investor Rule. This affords a broad spectrum of investment opportunities so long as the investment is deemed prudent and permissible by the State of California, various bond indentures and the City's Annual Investment Policy. The treasurer strives to invest 100% of idle funds.
Treasury Objectives
➢ The City will diversify use of investment instruments to avoid incurring unreasonable risks inherent in over -investing in specific instruments, individual financial institutions, or maturities.
➢ The Treasurer maintains a diversified portfolio to accomplish the primary objectives in the following order of priority: safety, liquidity, and yield.
Maximum Maturities
➢ Maturities of investments will be selected based on liquidity requirements to minimize interest rate risk and maximize earnings. Current and expected yield curve analysis will be monitored and the portfolio will be invested accordingly. ➢ The City will not invest in securities maturing more than five (5) years from the date of trade settlement, unless the City Council has by resolution granted authority to make such an investment.
237
FINANCIAL POLICIES
Portfolio Reporting
On a quarterly basis, or as otherwise requested by the City Administrator, the City Treasurer shall provide the City Council a report indicating each of the City's investments. The report shall include a statement certifying the ability of the City to meet its expenditure requirements for the next six months or provide an explanation as to why sufficient
money shall, or may not, be available. The investment
portfolio report shall include market information for all investments.
Authorized Investments
The City is governed by the California Government
Code, §§ 53600 et seq. Within the context of these
limitations and based on the cost at time of purchase.
A more detailed list of authorized investments is in the adopted Investment Policy.
FUND BALANCE POLICY
To maintain the City's credit rating and meet seasonal cash flow shortfalls, economic downturns or a local disaster, the budget shall provide for an anticipated fund balance for general government and enterprise fund types. Fund balance shall be exclusive of all restrictions, commitments, and assignments not available for use in emergencies and contingencies.
There are almost always important limitations on the purpose for which all or a portion of the resources of a governmental fund can be used. The forces of these limitations can vary significantly, depending upon their source. Therefore, the various components of fund balance are designed to indicate, "•••the extent to which the City is bound to honor constraints on the specific purposes for which amounts in the fund can be spent." Fund balance is categorized in five classifications, depicting the relative strength of the spending constraints placed on the purposes for which the resources can be used. The five classifications are:
Non -spendable: amounts not in spendable form or are required to be maintained intact (inventories, prepaid items, endowment)
Restricted: portions of fund balance that reflect resources subject to externally enforceable legal restrictions. Amounts constrained to specific purposes by their providers, through constitutional provisions, or by enabling legislation (bond proceeds, Pension Trust Fund assets, Measure M, creditors, grantors, restricted donations or contributions)
238
FINANCIAL POLICIES
Committed: amounts constrained to specific purposes by a government itself, using its highest level of decision -making authority (City Council), and remains binding unless removed in the same manner
Assigned: amounts a government intends to use for a specific purpose; intent can be expressed by the governing body, or by an official or body to which the governing body delegates the authority (year-end encumbrances, infrastructure and rehabilitation funding)
Unassigned: amounts available for any purpose; reported only in the General Fund Internal Service Funds
Fleet Management:The City has established and maintains a Fleet Management Fund to provide for the timely replacement of vehicles and related equipment. The amount retained in this fund, coupled with the annual contributions received by it from any source, shall be adequate to fully fund the replacements approved in the seven-year Capital Improvement Plan Plan in any given year. The City is currently striving to meet this goal. The FY 2026-27 budget does not set aside funding for future capital needs.
Information Services Fund: The City has established an Information Services Fund to provide for the timely replacement of information technology, both hardware and software. The amount retained in this fund, coupled with annual contributions received by it from any source, shall be adequate to fully fund the improvements included in the seven-year Capital Improvement Plan in any given year. The City is currently striving to meet this goal. The FY 2026-27 budget does not set aside funding for future capital needs.
Employee Benefits: Reserves will be maintained at a level to cover the cost of ongoing employee benefits during each fiscal year.
Se/f-Insurance: Reserves will be maintained at a level which, together with purchased insurance policies, adequately protect the City.
CAPITAL IMPROVEMENT POLICIES
The City utilizes the following policies to govern its Capital Improvement Program and the use of special funds that address community capital project needs.
Seven -Year Capital Improvement Program
The City Administrator shall develop and maintain a seven-year projection of capital improvement projects based on the General Plan, Specific Plans, and City Council approved projects. The seven- year projection shall be presented as part of the proposed annual budget. The Capital 239
FINANCIAL POLICIES
Improvement Program (CIP) should be tied to projected revenue and expenditure constraints.
Future planning should consider periods of revenue surplus and shortfall and adjust projects and programs accordingly. The seven-year projection shall include new capital projects, rehabilitation needs and long-term maintenance.
Capital Improvement Program (CIP) -- Current Fiscal Year Appropriation The current fiscal year CIP budget details the projected costs of acquisition, design, construction or rehabilitation of major capital facilities and infrastructure. The Measure U Fund and other special revenue funds are used to track the receipt and disbursement of funds for specific CIP projects.
For many projects, revenue resources and expenditures may extend over several years and continuing appropriations will be a part of the annual budget to track multi -year capital projects.
Accordingly, project appropriations are generally made when contracts are awarded. If project costs at the time of bid award are less than the budgeted amount, the balance will be unappropriated and returned to fund balance or allocated to another project. If project costs at the time of bid award are greater than budget amounts, five basic options are available:
➢ Eliminate the project.
➢ Defer the project for consideration to the next Financial Plan period. ➢ Re -scope or change the phasing of the project to meet the existing budget. ➢ Transfer funding from another specified, lower priority project. ➢ Appropriate additional resources as necessary from fund balance.
The City's CIP projects are budgeted on an annual basis. As a result, monies are allocated to projects in the fiscal year the funding sources are identified, available and approved by Council.
Annual appropriations for capital projects are contained in the appropriate special funds budget.
Seven -Year Capital Improvement Plan
The City will update the seven-year Capital Improvement Plan each budget year. However, the adoption of the seven-year plan does not authorize the funding of projects identified within the seven-year plan beyond the current fiscal year.
The City's capital improvement plan will recognize the borrowing limitation of not only the City but also the debt tolerance (direct and overlapping debt) of the City as a whole. The adopted annual budget shall contain a seven-year summary projection of revenues and expenditures, which specifies the revenue sources and anticipated allocation schedule for the seven-year CIP. This multi -year plan shall be updated on an annual basis. Individual capital improvement projects shall include a projected cost amount for City administration, whereby project estimates reflect the total cost of the project.
240
FINANCIAL POLICIES
Capital Improvement Funding
Within the limitation of existing law, various funding sources may be utilized for capital improvements. Capital projects shall not be dictated by the nature of funding available except to the extent that the projects meet an initial test required to achieve City goals and to the extent that projects must be placed in priority to utilize outside funding. The City shall actively pursue outside funding sources for all capital improvement
projects.
CIP Budget Carryover
Unexpended project balances shall be carried
forward to future fiscal years to complete the intent
of the original budget, contingent upon approval
by the City Council. The annual budget shall
identify an estimated "Continuing Appropriation"
balance that will be carried over to complete each specific multi -year project. The City Council will adopt by resolution all continuing appropriations after the fiscal year is closed and final numbers are known.
Upon completion of each capital project, unspent funds shall be reported to the City Council through the year-end budget report. The City Administrator shall provide recommendations to redirect the use of unspent capital project funds in the year-end report and the annual budget.
CIP Funding Criteria
The City will use the following criteria to evaluate pay-as-you-go versus long-term financing (pay - as -you -use) in funding capital improvements:
Factors Favoring - Pay -As -You -Go Financing
➢ Current revenues and adequate fund balances are available, or project phasing can be accomplished.
➢ Existing debt levels adversely affect the City's credit rating. ➢ Market conditions are unstable or present difficulties in marketing.
Factors Favoring - Long Term Financing (Pay -As -You -Use) ➢ Revenues available for debt service are deemed sufficient and reliable so that long-term financings can be marketed with investment grade credit ratings. ➢ The project securing the financing is of the type which will support an investment grade credit rating.
➢ Market conditions present favorable interest rates and demand for City financings. ➢ A project is mandated by state or federal requirements, and resources are insufficient or unavailable.
➢ The project is immediately required to meet or relieve capacity needs and current resources are insufficient or unavailable.
241
FINANCIAL POLICIES
➢ The life of the project or asset to be financed is ten (10) years or longer. ➢ Vehicle leasing when market conditions and operational circumstances present favorable opportunities.
In no case shall projects incur a funding deficit without the approval of the City Council.
ENTERPRISE FUND FEES AND RATE STRUCTURE
Water, Solid Waste and Sewer_ The City will set fees and rates at levels which fully cover the total direct and indirect costs, including operations, capital outlay, and debt service —of the following enterprise programs: refuse and sewer maintenance.
Ongoing Rate Review: The City will review and adjust enterprise fees and rate structures as required to ensure that they remain appropriate and equitable.
City Services: In accordance with long-standing practices, the City will treat the refuse and sewer maintenance funds in the same manner as if they were privately owned and operated. This means assessing reasonable charges that are reimbursed to the City for the use of City owned facilities, equipment, vehicles and other related services to fully recover these costs.
Enterprise Fund Debt Capacity; The City will set enterprise fund rates at levels needed to fully cover debt service requirements as well as operations, maintenance, administration, and capital improvement costs. The ability to pay new debt for enterprise operations will be evaluated as an integral part of the City's rate review and setting process.
APPROPRIATIONS LIMIT
The Council will annually adopt a resolution establishing the City's appropriations limit calculated in accordance with Article XIII-B of the Constitution of the State of California, §7900 of the State of California Government Code, and any other voter approved amendments or state legislation that affect the City's appropriations limit.
The supporting documentation used in calculating the City's appropriations limit and projected appropriations subject to the limit will be available for public and Council review at least 10 days before Council consideration of a resolution to adopt an appropriations limit. The Council will generally consider this resolution in connection with final approval of the budget.
The City will strive to develop revenue sources, both new and existing, which are considered non - tax proceeds in calculating its appropriations subject to limitation. 242
FINANCIAL POLICIES
The City will annually review user fees and charges and report to the Council the amount of program subsidy, if any, that is being provided by the General or Enterprise Funds.
The City will actively support legislation or initiatives sponsored or approved by League of California Cities which would modify Article XIII-B of the Constitution in a manner which would allow the City to retain projected tax revenues resulting from growth in the local economy for use as determined by the Council.
The City will seek voter approval to amend its appropriation limit at such a time that tax proceeds are in excess of allowable limits.
DEBT POLICIES
Debt Financing
Debt financing shall generally be limited to one-time capital improvement projects and only under the following circumstances:
➢ When the project's useful life will exceed the term of the financing; ➢ When project revenue or resources will be sufficient to service the debt; and ➢ When the project will benefit the residents of Placentia.
Debt financing shall not be considered appropriate for:
➢ Investment leveraging purposes,
➢ Current operating and maintenance expenses except for issuing short-term instruments such as revenue anticipation notes or tax anticipation notes; and ➢ Any recurring purpose (except as indicated above).
Debt Management
➢ The City will not obligate the General Fund to secure long-term financing except when marketability can be significantly enhanced.
➢ An internal feasibility analysis will be prepared for each long-term financing which analyzes the impact on current and future budgets for debt service and operations. This analysis will also address the reliability of revenues to support debt service. ➢ The City will generally conduct financing on a competitive basis. However, negotiated financing may be used due to market volatility or the use of an unusual or complex financing or security structure.
➢ The City will seek an investment grade rating (Baa/BBB or greater) on any direct debt and will seek credit enhancements such as letters of credit or insurance when necessary for marketing purposes, availability, and cost-effectiveness. ➢ The City will monitor all forms of debt annually, coincident with the City's Financial Plan preparation and review process and report concerns and remedies, if needed, to the Council.
243
FINANCIAL POLICIES
> The City will diligently monitor its compliance with bond covenants and ensure its adherence to federal arbitrage regulations.
> The City will maintain good, ongoing communications with bond rating agencies about its financial condition. The City will follow a policy of full disclosure on every financial report and bond prospectus (Official Statement).
Debt Refinancing
Genera/ Guidelines Periodic reviews of all outstanding debt will be undertaken to determine refinancing opportunities. Refinancing will be considered (within federal tax law constraints) under the following conditions:
> There is a net economic benefit.
> It is needed to modernize covenants that are adversely affecting the City's financial position or operations; and
> The City wants to reduce the principal outstanding in order to achieve future debt service savings, and it has available working capital to do so from other sources.
Standards for Economic Savings: In general, refinancing for economic savings will be undertaken whenever net present value savings of at least five percent (5%) of the refunded debt can be achieved.
> Refinancing that produces net present value savings of less than five percent will be considered on a case -by -case basis, provided that the present value savings are at least three percent (3%) of the refunded debt.
> Refinancing with savings of less than three percent (3%), or with negative savings, will not be considered unless there is a compelling public policy objective.
Legal Debt Margin
Under state law, the City has a legal debt limitation not to exceed 15% of the total adjusted assessed valuation of taxable property within City boundaries. In accordance with California Government Code § 43605, only the City's general obligation bonds are subject to that legal debt limit. The City has no outstanding general obligation bonds. 244
FINANCIAL POLICIES
Legal Debt Limit Calculation (General Obligation Debt)
Assessed Valuation, FY 2025-26*
$9,995,957,277
Adjusted Assessed Valuation (x25%)
$2,498,914,319
Legal Debt Limit- 15% of Adjusted Assessed Valuation
$374,837,148
Total Net Debt Applicable to Limitation: General Obligation Bonds $0
Percentage of Debt Applicable to the Legal Limit:
0%
*Source: Orange County Assessor's Office
Year
Ending
June 30
Motorola
Lease
2021
Installment
Sale
Fire
Loan #1
Fire
Loan
#2
2013 Tax
Allocation
Refunding
2020A
Lease
Revenue
Bonds
2023A
Lease
Revenue
Bonds
2026
152,862
403,220
412,591
216,001
1,008,188
4,283,036
559,675
2027
152,862
401,049
412,591
216,001
1,008,788
4,281,944
562,175
2028
152,862
404,795
412,591
216,001
1,007,700
4,282,596
559,300
2029
152,862
403,385
412,591
216,001
1,002,375
4,284,270
561,050
2030
152,862
400,900
206,296
108,000
1,002,950
4,284,129
562,300
2031
152,862
1,001,625
4,283,105
558,175
2032
152,862
998,400
4,284,134
558,675
2033
152,862
998,156
4,282,992
558,675
2034
4,285,791
558,175
2035-2045
25,777,257
11,193,250
Total
1,222,896
2,013,349
1,856,660
972,004
8,028,182
64,329,254
16,231,450
Principal
999,666
1,925,000
1,737,717
910,617
6,705,001
46,339,998
9,050,000
Interest
223,230
88,349
118,943
61,387
1,323,181
17,989,256
7,181,450
The City has issued debt to support large capital projects and initiatives such as the creation and start up of the Placentia Fire and Life Safety Department in 2020 as well as the public safety building that is currently under construction. Additionally, the City issued debt in 2020 to pay off the City's unfunded actuarial liability for pension debt with CaIPERS. The City balances the need to issue debt for larger purchases with the impact the ongoing debt service commitments have on the City's operating budget.
CONTRACTING FOR SERVICES
General Policy Guidelines
Contracting with the private sector for the delivery of services provides the City with a significant opportunity for cost containment and productivity enhancements. As such, the City is committed to using private sector resources in delivering municipal services as a key element in our continuing efforts to provide cost-effective programs.
245
FINANCIAL POLICIES
Private sector contracting approaches under this policy include construction projects, professional services, outside employment agencies and ongoing operating and maintenance services.
In evaluating the costs of private sector contracts compared with in-house performance of the service, indirect, direct, and contract administration costs of the City will be identified and considered.
Whenever private sector providers are available and can meet established service levels, they will be seriously considered as viable service delivery alternatives using the evaluation criteria outlined below.
For programs and activities currently provided by City employees, conversions to contract services will generally be made through attrition, reassignment, or absorption by the contractor.
Evaluation Criteria
Within the general policy guidelines stated above, the cost-effectiveness of contract services in meeting established service levels will be determined on a case -by -case basis using the following criteria:
> Is a sufficient private sector market available to competitively deliver this service and assure a reasonable range of alternative service providers? > Can the contract be effectively and efficiently administered? > What are the consequences if the contractor fails to perform, and can the contract reasonably be written to compensate the City for any such damages? > Can a private sector contractor better respond to expansions, contractions or special requirements of the service?
> Can the work scope be sufficiently defined to ensure that competing proposals can be fairly and fully evaluated, as well as the contractor's performance after bid award? > Does the use of contract services provide us with an opportunity to redefine service levels?
> Will the contract limit our ability to deliver emergency or other high priority services? > Overall, can the City successfully delegate the performance of the service and still retain accountability and responsibility for its delivery?
246
FUND DESCRIPTIONS
The City budget consists of a number of
different funds. A fund is defined as a fiscal
and accounting entity with a self -balancing
set of accounts, segregated for the purpose
of carrying on specific activities, or
complying with special regulations,
restrictions, or limitations. The following
provides a description of accounting funds
used by the City of Placentia.
Each distinct fund contains program
expenditures and revenues that relate to the
purpose of the fund. The three types of fund
categories are governmental funds,
proprietary funds and fiduciary funds and
are defined in detail below.
GOVERNMENTAL FUNDS
Operating
Budget
Fiduciary
Funds
Governmental
Funds
Successor
Agency Fund
OPEB Trust
General Fund
Proprietary
Funds
Special
Revenue Funds
Enterprise
Funds
Internal
Service Funds
The measurement focus for governmental funds is on current spendable resources, and as such, the balance sheets for these types of funds include only current assets and current liabilities.
Governmental funds are accounted for on a modified accrual basis, thus revenues are recognized when measurable and available, (60 days) and expenditures are recorded when the related liability is incurred.
GENERAL FUND
The General Fund is the City's single largest fund type and accounts for unrestricted revenues such as general taxes and intergovernmental revenue, user fees, fines, rents, and other miscellaneous general revenues. This fund supports basic services including Police, Fire & Life Safety, Development Services, Community Services, and general administration.
SPECIAL FUNDS (Restricted)
Special revenue funds are used to account for the proceeds from specific revenue sources that are legally or contractually restricted to expenditures for specific purposes.
AB2766 - Air Quality Management Fund
This fund accounts for the City's programs implementing Assembly Bill (AB) 2766, the California Clean Air Act of 1988. Under the provisions of AB 2766, 40% of the fees imposed by the South Coast Air Quality Management District (SCAQMD) are allocated to local jurisdictions to fund expenditures for the reduction of air pollution from motor vehicles. Past qualifying projects have 247
FUND DESCRIPTIONS
included the purchase of alternative fuel (CNG) vehicles, and various educational and outreach programs to encourage commuter use of transit and rail systems.
Criminal Diversion (Federal & State Asset Forfeiture / Other Public Safety Grants) The Asset Forfeiture fund is the depository for equitable sharing payments received from the Departments of Justice and US Department of the Treasury for assistance in forfeiture cases.
Under state and federal statutes, the City of Placentia receives an equitable share of seized drug funds and real property, along with reimbursement of related overtime expenses in exchange for participating in the program.
By law, these funds may only be spent for law enforcement purposes and are intended to supplement, not supplant, existing funds. Examples of uses of these funds include training, supplies, equipment, and ammunition. Due to the uncertain nature of the timing and amount of forfeitures, and in accordance with fund guidelines, revenues should not be budgeted until actually received.
Citizen Options for Public Safety (COPS/SLESF) - Supplemental Law Enforcement Services Funds Grant
Assembly Bill 3229, Chapter 134, Statue of 1996, established the Citizen's Option for Public Safety (COPS) Program. Per Government Code §§ 30061-30065, compliant cities are allocated a proportionate share of COPS funds by the State, for the exclusive purpose of funding supplemental front line law enforcement services. Proportionate shares are based on population estimates determined by the California Department of Finance. Under the standard grant program allocation, the City of Placentia is eligible to receive the minimum grant amount of $100,000 each year. Funds from this program cannot supplant existing funding and are to be used for one-time items including equipment.
Housing and Community Development (CDBG)
This fund was established to satisfy legal requirements that Community Development Block Grant (CDBG) funds be segregated from other funds. CDBG funds are used to provide a variety of public service programs throughout the community.
Gas Tax
The City receives Gas Tax funds per various sections of the Streets and Highways Code.
State law requires these funds be utilized solely for
street -related purposes such as new street
construction, rehabilitation, and maintenance.
Specific capital projects for street and traffic signal improvements and rehabilitation endeavors are
identified in the Capital Improvement Program (CIP)
budget.
248
FUND DESCRIPTIONS
Housing Successor Fund - (Former Redevelopment)
In June 2011, the Redevelopment Dissolution Act, AB1x26, was signed by the Governor and later upheld by the California Supreme Court on December 29, 2011. As a result of the Court's ruling on the Dissolution Act, all redevelopment agencies in California were dissolved effective February 1, 2012. This fund accounts for the residual balance of the former low- and moderate - income housing fund of the former Placentia Redevelopment Agency, and revenues and expenditures related to such housing projects and programs.
City Capital Projects Fund
Used to account for and report financial resources that are restricted, committed, or assigned for the acquisition or construction of major capital facilities within the boundaries of the City.
Measure M Fund
This fund accounts for the City's share of the Measure M2 one-half cent sales tax approved by Orange County voters and administered by the Orange County Transportation Authority.
Funding is allocated to the City for streets, roads and transit projects. Measure M also provides funds for the City's Senior Mobility program.
Road Maintenance & Rehabilitation Program (SB1)
This fund was created to account for the City's share of proceeds from SB 1, the Road Repair and Accountability Act of 2017. Funds are restricted for maintenance, rehabilitation or improvement of streets, freeways, bridges and other transit related improvements.
Placentia Regional Navigation Center
This fund accounts for the receipts and expenditures related to the construction and operation of the Placentia Regional Navigation Center. Revenues include the Homeless Emergency Aid Program (HEAP) grand and SB2 funds. Future revenue
sources will include reimbursements from the North Orange County Cities.
TOD Impact Fee Special Revenue Fund
This fund accounts for the receipts and expenditures of new development impact on the City's sewer collection system in the City's Transit -Oriented Development Zone (TOD). Funds are restricted within the TOD project area, including but not limited to acquisition, financing, construction and reconstruction of sanitary or sewer facilities and infrastructure in the TOD. 249
FUND DESCRIPTIONS
PROPRIETARY FUNDS
Proprietary funds account for operations that are financed and operated in a manner similar to private sector enterprises, in that goods and services are provided to the general public (external users) or other City department (internal users), and the costs are financed or recovered primarily through fees and service charges charged directly to the users of the goods and services.
ENTERPRISE FUNDS
Enterprise funds are used to report activities for which service charges or fees are charged to external users. Costs for providing the goods and services to the general public (Utility Customers) is paid through a user rate structure that is appropriate, fair and equitable based on the cost of the commodity.
Refuse Fund
The City contracts with Republic Services to provide residential and commercial waste collection, and recycling. The City utilizes the property tax assessment process to include the waste collection charges owed to Republic Services.
Sewer Maintenance Fund
This fund is used to account for the operations and maintenance of the sewer lines located in the City's sewer system, including administration and capital improvements. Fees are computed from water consumption amounts provided by local water companies. All residents and businesses connected to the City's sewer system are placed in billing categories based on a percentage of water consumption that is returned to the City sewer system.
INTERNAL SERVICE FUNDS
Internal Service Funds are used to report activities for which service charges or fees are charged to internal users. These funds account for the financing of goods or services provided by one department to another on a cost reimbursement basis. These functions include risk management, employee health and welfare and equipment replacement.
FIDUCIARY FUNDS
Funds that account for resource held in a trustee, custodial or agency capacity for others.
Successor Agency of the Redevelopment Agency of the City of Placentia In June 2011, the Redevelopment Dissolution Act, AB1x26, was signed by the Governor and later upheld by the California Supreme Court on December 29, 2011. As a result of the Court's ruling on the Dissolution Act, all redevelopment agencies in California were dissolved effective February 1, 2012. On February 1, 2012, the City elected to become the Successor Agency to 250
FUND DESCRIPTIONS
the RDA to wind down its affairs. A new fund was created to account for the activities of the Successor Agency during the dissolution process.
Community Facilities District Fund
This fund accounts for the Community Facilities Districts No. 89-1 (East Placentia) and 2018-1 (Transit Oriented District) providing a special tax to pay for certain public facilities within such community facilities district, to levy such special tax and to provide non -General Fund and sustainable funding source to pay for the ongoing maintenance and repairs of the public streetscape improvements constructed within the Transit Oriented District. This fund also accounts for the service of $25,000,000 of Community Facilities District No. 89-1 (East Placentia) Special Tax Bonds issued to finance the construction of street and drainage infrastructure improvements and to fund development of a 13 -acre park/recreation sports complex to benefit properties within the District.
Public Safety CFD 2014-01 Fund
This fund accounts for revenues and expenditures to provide public safety services associated with new development within Placentia including, but not limited to, police protection, fire protection, and ambulance and paramedic services. The services would be partially paid for through the levy of a Special Tax on real property.
251
COMMUNITY PROFILE
Community Overview
The City of Placentia is located in the northern part
of Orange County and encompasses just under
seven square miles adjacent to the cities of Yorba
Linda, Brea, Fullerton and Anaheim.
The City was incorporated in 1926 and became a
charter city in 1967. It is governed by a five -
member elected City Council. The city operates
under the Council/Administrator form of city
government whereby City Council members serve
staggered, four-year terms, with a three
consecutive term limit. The Mayor is selected by the
City Council from among its membership and
_
i ie Rrcr�.
serves a one-year term. The City Administrator is appointed by the City Council to carry out the policies and direction of the City Council, oversee the day-to-day operations of the City, and appoint department directors.
Placentia is a full -service city that provides the following services: police, fire & life safety, street and park maintenance, recreation, traffic/transportation, public improvements, economic development, building and planning, zoning, and general administrative services.
Demographics
0 0 0
00000
O
n
1 53,759 Total Population
39.1 Median Age
49.2% Male & 50.8% Female
63.6% Homeownership Rate
o
O
o
M
ME ME
ME ME
I I
ME
ME
ME
ME
ME
44.2% of Population with
bachelor's degree or Higher
Median Income- $115,929
17,891 Total Housing Units
252
COMMUNITY PROFILE
History
Placentia's rich history began in 1837 when the
governor of Mexico granted the Rancho San Juan
Cajon De Santa Ana to Juan Ontiveros. This land grant
included the area that today comprises Placentia,
Anaheim, Brea, and Fullerton. Placentia was placed on
the map in 1910 when A.S. Bradford persuaded the
Santa Fe Railroad to re-route their track through this
area, thus shortening the rail distance to Los Angeles.
A station was built and packing houses were
established for the town's growing citrus industry. Mr.
Bradford and Richard Melrose laid out the main streets
Avenue and Melrose Avenue retain their names today.
of the town and, in his honor, Bradford
Placentia's climate and rich land attracted an ever-growing number of new residents. The area was well suited for raising citrus fruit, walnuts, avocados, and grapes. Placentia became the center of Valencia Orange Growing and Packing, and its 500 citizens voted to incorporate the City in 1926.
In 1960, Placentia's population had reached only 5,000; however, a phenomenal growth period was just beginning. By 1970, the population had increased five -fold to nearly 25,000. Today, Placentia is still a fast-growing community with over 50,000 residents, beautiful suburban homes, good schools, stately churches, and wholesome recreation.
Top Sales Tax Producers (in alphabetical order)
76 Adamson Police Products
Arco AM/PM
Arco Gas Station
Audi Leasing Ltd Bentley Leasing
Audi North OC
Beacon Sales Acquisition
Bejac
Chevron
Chick-Fil-A
Fairway Ford
Lx Hausys America
Marshalls
Mason West
Petroleum Marketing Equipment
Print & Finishing Solutions
Prosource of North Orange County
Ralphs
Roofing Wholesale
Ross
Schorr Metals
Stater Bros
Suburban Heating Oil Partners
United Service Technologies
253
BUDGET GLOSSARY
Accrual Basis of
Accounting
A method of accounting that recognizes the financial effect of transactions, events, and inter -fund activities when they occur, regardless of the timing of related cash flows.
Adjusted / Amended
Budget
The adopted budget plus any modifications (increases, decreases and transfers) approved by the City Council during the fiscal year.
Air Quality
Management District
(AQMD)
The air pollution control agency for the four -county region including Los Angeles and Orange counties, as well as parts of Riverside and San Bernardino counties ( .vw.acmd.go ).
Air Quality
Management Plan
(AQMP)
A plan developed by the AQMD that serves as the blueprint for all the future rules necessary to bring the area into compliance with federal and state clean air standards.
Allocation of Funds
Setting aside funds for a specific purpose or program. An allocation of funds makes them available for expenditure.
Annual
Comprehensive
Financial Report
(ACFR)
The summarization of the City's financial activity for the previous fiscal year which also includes a summarization of significant milestones that were accomplished during the year by department, fiscal policies, and statistical information. The ACFR is prepared by December of each year.
Appropriation
A specific amount of money authorized by the City Council for an approved work program.
Arterial Highway
Financing Program
(AH FP)
A Measure M funded program for pavement rehabilitation projects on arterial roadways in the county.
Assessed Property
The value set upon real estate or other property by the County Tax Assessor.
Assessed Valuation
A measure of the taxable value of property located within the City against which the tax rate is applied.
Assessed Valuation
(Secured)
That part of the assessment roll containing state assessed property and property the taxes on which are a lien on real property sufficient to secure payment of taxes.
Assessed Valuation
(Unsecured)
The remainder of the assessment roll that is not on the secured roll.
The taxes on the unsecured roll are a personal liability of the assessed owner.
254
BUDGET GLOSSARY
Assessment District
(AD)
A separate unit of government that manages specific resources within defined boundaries. Through self-financing, it can raise predictable funds, such as taxes, user fees or bonds, directly from the people who benefit from the services.
Audit
Prepared by an independent certified public accountant (CPA), the primary objective of an audit is to determine if the City's financial statements fairly represent the City's financial position and results of operations in conformity with generally accepted accounting principles. In conjunction with performing an audit, independent auditors customarily issue a Management letter stating the adequacy of the City's internal controls as well as recommending improvements to the City's financial management practices.
Balanced Budget
A budget in which planned expenditures do not exceed planned revenues.
Bond Refinancing
The pay off and re -issuance of bonds to obtain better interest rates and/or bond conditions.
Bonds
A certificate of debt issued by an entity, guaranteeing payment of the original investments, plus interest.
Bradley Burns
Uniform Local Sales
& Use Tax
A 1% local sales tax is collected by the State of California as part of the larger sales and use tax levied on the total retail price of tangible personal property based on business location. Use Tax is the complement of sales tax and imposed on the purchaser, usually for goods purchased out-of-state for local use.
Budget Surplus
The difference between operating revenues and operating expenditures. The Budget Surplus may be used for ongoing expenses (as opposed to year-end balance, which may be used only for one- time expenses).
Budget Amendment
The Council has the sole responsibility for adopting the City's budget and may amend or supplement the budget at any time after adoption by majority vote. The City Administrator has the authority to approve transfers within funds.
California
Environmental
Quality Act
(CEQA)
A state statute enacted in 1970 that requires state and local agencies to identify the significant environmental impacts of their actions and to avoid or mitigate those impacts, if feasible (ceres.ca.gov/ceqa). 255
BUDGET GLOSSARY
California
Transportation
Commission
(CTC)
The agency responsible for programming and allocating funds for the construction of highway, passenger rail and transit improvements throughout California (A/ww.catc.ca.gov)
Capital Equipment
Equipment (fixed assets) with an initial individual cost of $2,500 or more and an expected useful life greater than two years, such as automobiles, microcomputers and furniture.
Capital Expenditure
Expenditure for tangible property with an initial individual cost of $25,000 or more and an expected useful life greater than two years per item.
Capital Improvement
Program Budget
(CI P)
A multi -year financial plan for construction of infrastructure, facilities, and rehabilitation such as buildings, streets, storm drains, and recreational facilities with an initial individual cost of at least $50,000 and an estimated useful life greater than two years.
Certificates of
Participation
(COPs)
Tax-exempt bonds issued by state entities usually secured with revenue from an equipment or facility lease. COPs enable governmental entities to finance capital projects without technically issuing long-term debt. This can be advantageous, as the issuance of long-term debt is commonly subject to voter approval and other state constitutional and statutory requirements. COPs have been used by municipalities to pay for prisons, office buildings, vehicles, and even parks.
City Council
(CC)
Comprised of five City Councilmembers who are elected by district by registered voters of the City. Councilmembers each serve a four-year term. The mayor is selected by fellow councilmembers and serves a one-year term. The City Council adopts legislation, sets policy, adjudicates issues and establishes the budget of the City.
Community
Development Block
Grant (CDBG)
Provides eligible metropolitan cities and urban counties with annual direct grants to revitalize neighborhoods; expand affordable housing and economic opportunities; and/or improve community facilities and services, principally to benefit low- and moderate -income persons.
Community Facilities
District
(CFD)
A special district that can issue tax-exempt bonds as a mechanism by which public entities finance construction and/or acquisition of facilities and provide public services to the district.
Community Oriented
Policing Services
(COPS)
A grant program that provides partial funding of salaries for several front line law enforcement positions.
256
BUDGET GLOSSARY
Conditional Use
Permit
(CUP)
Allows a city or county to consider special uses which may be essential or desirable to a particular community, but which are not allowed as a matter of right within a zoning district, through a public hearing process.
Congestion
Management Plan
(C M P)
Defines a network of state highways and arterials, level of service standards and related procedures.
Consumer Price
Index
(CPI)
A statistical description of price levels provided by the U.S.
Department of Labor. The change in this index from year to year is used to measure the cost of living and economic inflation.
Contingency Reserve
The City has established a policy to set aside a percentage of its General Fund operating expenditures as a contingency reserve.
Cost Allocated
A method used to charge General Fund costs budgeted in one department to another department or another fund.
Debt Service
The payment of principal and interest on borrowed funds such as bonds.
Department,
(Function) Division
Section Organizational units within the Operations Budget that group resources together to provide related types of services.
Discretionary
Funding
Opportunities
Pertains to funds, grants or other resources that are not restricted as to use.
Drug Abuse
Resistance Program
DARE — a police officer -led series of classroom lessons that teaches children from kindergarten through 12th grade how to resist peer pressure and live productive drug- and violence -free lives (Nww.dare.con ).
Encumbrance
An encumbrance is not an expenditure, but a reservation of funds to be expended at a future date. A commitment is usually made through a purchase order for the future payment of goods and services not yet received or paid for.
Enterprise Fund
This fund type is used to account for operations that are: (a) financed and operated in a manner similar to private sector enterprises and it is the City's intent that the costs (including depreciation) of providing goods or services to the general public be financed or recovered primarily through user charges.
257
BUDGET GLOSSARY
Environmental
Enhancement and
Mitigation Program
(EEMP)
A state funded grant program for projects related to environmental enhancement or design, particularly of transportation facilities.
Environmental
Impact Report
(EIR)
A public document used by governmental agencies to analyze the significant environmental effects of a proposed project, to identify alternatives and disclose possible ways to reduce or avoid potential environmental damage. The California Environmental Quality Act requires an EIR whenever the initial study or other evidence in the record has produced substantial evidence that the proposed project might produce significant environmental effects.
Expenditure
The outflow of funds paid or to be paid for an asset, goods or services regardless of when the invoice is actually paid. This term applies to all funds.
Fair Housing Council
of Orange County
(FHCOC)
A private non-profit organization which fosters diversity in housing through education and the enforcement of state and federal fair housing laws ( www.fairhousincoc.orc ).
Fees
A general term used for any charge levied by government for providing a service or permitting an activity.
Fiscal Year
(FY)
Any period of 12 consecutive months designated as the budget year.
Placentia's budget year begins on July 1 and ends on June 30.
Fixed Asset
Assets that are long-term in nature such as land, buildings, machinery, furniture and other equipment. The City has defined such assets as those with an expected life in excess of one year and an acquisition cost in excess of $5,000.
Franchise Tax
Revenue generated from taxes paid by a business that gave an exclusive contractual agreement to operate and use the public right- of-way in the City Examples includes Southern California Edison, Cable Television, Southern California Gas and Republic Disposal.
Fringe Benefits
These include retirement/pension; health, life, and disability insurance; workers' compensation; and vacation, administrative, medical and special leave of absence time.
258
BUDGET GLOSSARY
Full -Time Equivalent
(FTE)
Refers to part-time hours converted to one full-time equivalent position, which equals 40 hours per week, 52 weeks per year. (2080 hours per year)
Fund
A self -balancing set of accounts to record revenues and expenditures associated with a specific purpose.
Fund Balance
Within a specific fund, the funds remaining when all current and prior year liabilities (expenditures) are subtracted from current and prior year assets (revenues).
Gas Tax
State tax received from gasoline sales utilized solely for street related purposes, such as new construction, rehabilitation or maintenance.
General Fund
The primary operating fund of the City (as opposed to all other City funds, which are designated as "Special Funds").
General Plan
A comprehensive, long-range, policy document required by state law.
The document establishes the City's overall spatial and temporal development pattern.
Geographical
Information System
(GIS)
A computer system capable of assembling, storing, manipulating and displaying geographically referenced information.
Goal
A time/phased strategy that will implement a specific course of action or plan, typically, a long-term process.
Government Finance
Officers Association
(G FOA)
A professional association of state/provincial and local finance officers in the United States and Canada ( www.cfoa.orc) .
Governmental
Accounting
Standards Board
(GASB)
Organized in 1984 by the Financial Accounting Foundation to establish standards of financial accounting and reporting for state and local governmental entities ( www.casb.orc ).
Grants
Contributions of cash or other assets from another governmental agency to be used or expended for a specified purpose, activity or facility.
Gross Domestic
Product (Real)
(GDP)
The total of the goods and services produced by labor and property located in the United States.
Gross State Product
(GSP)
The total of the goods and services produced by labor and property located in the State of California.
259
BUDGET GLOSSARY
Growth Management
Area
(G MA)
Inter jurisdictional planning regions within Orange County.
Growth Management
Program
(GMP)
A Measure M funded program intended to address the cumulative regional traffic impacts of development not addressed by specific project mitigation and existing system deficiencies.
Hotel Tax (TOT)
Also known as the Transient Occupancy Tax (TOT) or bed tax — a 10% tax added to the cost of renting a hotel room within the City.
Infrastructure
Inputs Includes the City's street, bridge, traffic signal, landscaping, and trail networks. To be capitalized as part of the City's infrastructure network, a related component must have an initial individual cost of at least $50,000 and an estimated useful life greater than two years.
Resources (e.g. dollars, staff and other assets) required to accomplish a job or provide a service.
Inter -Fund Transfers
Payments from one fund to another fund, primarily for work or services provided
Landscape, Lighting,
and Park
Maintenance
(LLPM)
An assessment district to provide funds for park and parkway landscaping, lighting and park maintenance.
Lease -Purchase
Agreement
Contractual agreements which are termed leases, but whose lease amount is applied to the purchase.
Level of Effort
Generally used to identify the number of staff providing a particular service. Level of Services Generally used to define the existing or current services, programs and facilities provided by government.
Levy
To impose taxes, special assessments or service charges for the support of governmental activities.
Local Agency
Formation
Commission
(LAFCO)
Reviews proposals for the formation of new local governmental agencies and changes of organization in existing agencies (A/ww.oclafco.orci).
Local Agency
Investment Fund
(LAIF)
A voluntary program created by statute in 1977 in which participating agencies (local governments and special districts) invest public funds. 260
BUDGET GLOSSARY
Long -Term Debt
Debt with a maturity of more than one year after issuance.
Major Fund
A fund that comprises more than 10% of total citywide budgeted revenues and transfers -in and/or 10% of total budgeted appropriations and transfers -out. Please see the "Major Funds — Summary by Budget Category" tables presented in the Budget Summary chapter.
Measure M
County -wide sales tax measure used to fund a variety of transportation related projects.
Measure M - Growth
Management Area
(M-GMA)
A county grant program that provides funding for projects that benefit the greatest number of jurisdictions within a designated growth management area (GMA) in Orange County. The primary objective of this program is to address current traffic deficiencies and the cumulative regional traffic impacts of development not addressed by specific project mitigation and existing system deficiencies.
Measure M —
Turnback
The non-competitive portion of the sales tax revenue generated through Measure M that is "turned back" to the City. Funds are restricted to circulation related projects (street, traffic signal, etc.) and are received quarterly.
Measure U
A 1% sales tax approved by the voters in November 2018 and effective April, 2019 to help fund much -needed infrastructure repairs and maintenance as well as public safety and other critical services.
Memorandum of
Understanding
(MOU)
An agreement outlining the terms of employment entered into between the City and employees of various bargaining units.
Modified Accrual
Basis of Accounting Basis of accounting according to which (a) revenues are recognized in the accounting period in which they become available and measurable and (b) expenditures are recognized in the accounting period in which the fund liability is incurred, or measurable, except for un-matured interest on general long-term debt and certain similar accrued obligations, which should be recognized when due.
National Pollutant
Discharge
Elimination System
NPDES — a permit program authorized by the Clean Water Act that controls water pollution by regulating point sources that discharge pollutants into waters of the United States.
261
BUDGET GLOSSARY
Objective
Describes an outcome to be accomplished in specific, well-defined and measurable terms and is achievable within a specific timeframe; generally, programs have objectives.
Operating Budget
A budget for General Fund department service delivery expenditures such as salaries, utilities and supplies. The day-to-day costs of delivering essential City services.
Orange County Fire
Authority
(OCFA)
An agency that provides fire prevention/suppression and emergency services to 23 cities and all the unincorporated areas in Orange County ( www.ocfa.org) .
Orange County
Investment Pool
(OCIP)
A pooling of cash by the county, local agencies and school districts for investment purposes run by the Orange County Treasurer.
Orange County
Transportation
Authority
(OCTA)
A regional transportation agency formed in 1991 to develop and implement unified transportation programs and services for Orange County ( ,vw.octa.n€ ).
Ordinances
A formal legislative enactment by the governing board (i.e. City Council) of a municipality. If it is not in conflict with any higher form of law, it has the full force and effect of law within the boundaries of the municipality to which it applies.
Outputs
The general results expected from programs and functions.
Part I Crimes
The most serious criminal offenses, including murder, rape, robbery, aggravated assault, burglary, larceny/theft, auto theft and arson.
Part II Crimes
Pavement
Management System
All other criminal offenses not defined as Part I crimes.
PMS — a computer -assisted decision -making process designed to help cities and counties prevent pavement problems through maintenance and repair in a timely, cost-effective manner.
Pavement Quality
Index
(PQI)
A scale from 1 to 10 that measures the structure, surface condition and riding comfort of the roadway.
Performance Budget
A budget wherein expenditures are tied to the measurable performance of activities and work programs.
Performance
Measurements
Statistical measures that are collected to show the impact of dollars spent on City services.
262
BUDGET GLOSSARY
Personnel Expenses
Salaries and fringe benefits, such as pensions and insurance, for full- time and part-time employees of the City.
Priority E
Calls Refers to the most serious calls for emergency response for serious emergencies, in -progress calls and potentially life -threatening incidents that require a Code 3 (use of lights and siren) response.
Priority I Calls
Refers to calls for emergency response for serious emergencies, in progress calls and potentially life -threatening incidents that do not require a Code 3 (use of lights and siren) response.
Program
Represents major areas or support functions that can be defined as a service provided to citizens, other departments or other agencies.
Program Budget
A budget wherein expenditures are displayed primarily on programs of work and secondarily by the character and object class of the expenditure.
Property Tax
A tax levied on the assessed value of real property; also known as ad valorem tax. In California, this tax is limited to 1% with the exception of pre -Proposition 13 approved bond debt service. Proposition 13 On June 6, 1978, the California electorate approved Proposition 13, the "People's Initiative to Limit Property Taxation," which limited the tax rate for real estate as follows: the maximum amount of any tax on real property shall not exceed 1% of the full cash value of such property.
The City of Placentia receives $0.1340 cents per dollar of the Prop 13 tax.
Proposition 218
On November 5, 1996, the California electorate approved Proposition 218, the self -titled "Right to Vote on Taxes Act." Proposition 218 added articles XIIIC and XIIID to the California Constitution and made numerous changes to local government finance law. Public officials are required to conduct the public's business in compliance with Proposition 218.
Public Employees'
Retirement System
(PERS)
Provides retirement and health benefit services to members from the state, school districts and local public agencies ( vww.caloers.ca.gov).
Ralph M. Brown Act
The Brown Act is a California law that insures the public can attend and participate in meetings of local government.
Redevelopment
Agency
(RDA)
Formerly charged with the oversight for the redevelopment process for the City of Placentia. In June 2011, the Redevelopment Dissolution Act, AB1x26, was signed by the Governor and later upheld by the 263
BUDGET GLOSSARY
California Supreme Court. As a result, all redevelopment agencies in California were dissolved effective February 1, 2012.
Regional Surface
Transportation
Program
(RSTP)
A federal and state funded grant program used for projects located on highway systems (classified higher than local roads or rural minor collectors), bridges on any public highway, and transit systems.
Reserve
A designated amount of funds set aside from a fund's balance which is legally restricted for a specific purpose and is therefore not available for general appropriations.
Resolution
A special or temporary order of a legislative body (e.g. City Council or Planning Commission) requiring less formality than an ordinance.
Resources
Units of dollars or physical input, such as work years or work hours, and other assets used to support and attain program objectives.
Revenue
Annual income received by the City.
Right of Way
ROW — a strip of land occupied or intended to be occupied by a street, crosswalk, railroad, electric transmission line, oil or gas pipeline, water main, sanitary or storm sewer main, shade trees, or special use.
Southern California
Association of
Governments
(SCAG)
The Metropolitan Planning Organization for Los Angeles, Orange, San Bernardino, Riverside, Ventura and Imperial counties, that is mandated by the federal government to research and draw up plans for transportation, growth management, hazardous waste management and air quality (vvvvvv. t_d .k_a. ).
Special Funds
The City's accounts are broken into distinct funds, each earmarked for a different purpose, with the principle and interest of the funds tracked separately. The City's main operating fund is its General Fund, while other City funds are designated as Special Funds. These funds are legally restricted for a specific purpose and is therefore not available for general use.
Traffic Enforcement
Index
The number of moving citations divided by the number of injury accidents.
Transaction Sales
Tax (District Tax)
Similar to the Bradley Burns Sales Tax, a transactions and use sales tax is allocated to the district where the tangible goods are delivered or placed into use. Voter approved district taxes are levied within incorporated city limits. Placentia has a 1% transaction tax authorized in November 2018.
263
BUDGET GLOSSARY
Transfers-In/Out
A transfer of resources between different City funds (see glossary definition of "Fund"). A transfer of cash from the City's General Fund to a City Special Fund, for example, would be designated as a transfer - out in the General Fund, and then a transfer -in in the receiving Special Fund.
Transient Occupancy
Tax
(TOT)
A 10% tax added to the cost of renting a hotel room within the City.
Also known as the Hotel or Bed Tax.
Transportation
Management
Association
(TMA)
An association comprised of employers and property owners that promotes the use of alternative forms of commuting to the single occupant vehicle. Traffic congestion relief and air quality benefits are the primary goals of TMA.
Transportation
Management Plan
(TMP)
A plan that promotes the reduction of single occupant vehicle use in order to improve air quality and relieve congestion. Transportation Subventions Funds from outside sources used to construct transportation improvements that must be used for specific projects.
Unencumbered
Appropriation
That portion of an allocation not yet expended or committed to a specific purpose. Unexpended Appropriation is that portion of an allocation not yet actually paid.
Voice Over Internet
Protocol
(VoIP)
Used to manage the delivery of voice information over the Internet.
Year -End Surplus Funds remaining at the end of a fiscal year that are available for allocation or for one-time purchases (not for on -going programs or services).
263
RESOLUTION NO. R-2026-39
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PLACENTIA, CALIFORNIA, TAKING ACTIONS NECESSARY
TO ADOPT THE FISCAL YEAR 2026-27 ANNUAL BUDGET;
TAKING ACTIONS NECESSARY TO ADOPT THE FISCAL
YEAR 2026-27 CAPITAL IMPROVEMENT PROGRAM (CIP)
BUDGET WITH AN APPROPRIATION OF $10,147,629; AND
AUTHORIZING THE POSITION ALLOCATION PLAN,
CLASSIFICATION PLAN, AND COMPENSATION PLAN FOR
FISCAL YEAR 2026-27
A. Recitals
(i) The City Administrator, in accordance with Article XII, Sections 1202 and 1203 of the City Charter, has prepared and submitted a proposed annual budget for Fiscal Year 2025-26.
(ii) The City Council has reviewed the proposed budget and conducted a Public Hearing on said budget.
(iii) The Capital Improvement Program on file with the City Clerk incorporates the various anticipated revenues and expenditures of the City of Placentia for the Fiscal Year 2025-26 as known at this time, and the same would constitute a proper budget for the City for such period.
(iv) The Capital Improvement Program was presented to Planning Commission at the regularly scheduled meeting on May 12, 2026. Said Planning Commission found the Capital Improvement Program to be in conformance with the City's adopted General Plan. (v) The City of Placentia Position Allocation Plan and Compensation Plan, effective July 1, 2026, for the PCEA, PPOA, PPMA, FIRE employees and unrepresented employees including the City Administrator, Executive Management, and Mid - Management employees; effective July 1, 2026, are components of the annual budget process.
(vi) All legal prerequisites to the adoption of this Resolution have occurred.
B. Resolution
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLACENTIA DOES HEREBY FIND, DETERMINE AND RESOLVE AS FOLLOWS:
1. In All respects as set forth in the Recitals, Part A., of this Resolution.
2. The City Council of the City of Placentia does hereby approve and adopt the Fiscal Year 2026-27 Budget, a full, true, and correct copy of which is on file in the Office of the City Clerk, hereby is adopted as such budget for such period.
3. The Capital Improvement Program for the City of Placentia for Fiscal Year 2026- 27, including appropriations in the amount of $10,147,629 as set forth in the budget on file with the City Clerk and made a part hereof, is hereby adopted as such budget for such period.
Resolution No. R-2026-39
595
4. The Position Allocation Plan, Classification Plan and Compensation Plan are being updated to reflect approved changes by the City Council in the context of the Fiscal Year 2026-27 Annual Budget. When the City Council approves a new position or the City Administrator amends a position between updates of the Plan, such a change shall constitute a revision to the City's Position Allocation Plan that shall be reflected in the next update of the Resolution adopting the Plan. Compensation, Classifications and benefits not specifically amended by this Resolution shall remain in full force and effect.
5. The proposed Position Allocation Plan for positions in City services for Fiscal Year 2026-27 is attached hereto as Appendix "A" (Position Allocation Plan), the proposed Compensation Plan — Master Salary Schedule is attached hereto as Appendix "B" and Classification for Facilities Maintenance Technician II hereto as Appendix "C" hereby are approved.
APPROVED and ADOPTED this 30th day of June 2026.
Chad P. Wanke, Mayor
ATTEST:
Robert S. McKinnell, City Clerk
Resolution No. R-2026-39
596
STATE OF CALIFORNIA
COUNTY OF ORANGE
I, Robert S. McKinnell, City Clerk of the City of Placentia, do hereby certify that the foregoing Resolution was adopted at a regular meeting of the City Council of the City of Placentia held on the 30th day of June 2026, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
ABSTAIN: COUNCILMEMBERS:
Robert S. McKinnell, City Clerk
APPROVED AS TO FORM:
Christian L. Bettenhausen, City Attorney
Attachments:
Appendix A — Position Allocation Plan
Appendix B — Compensation Plan Master Salary Schedule
Appendix C — Classification for Facilities Maintenance Technician II Resolution No. R-2026-39
597
CITY OF PLACENTIA
POSITION ALLOCATION PLAN
FISCAL YEAR 2026-27
EFFECTIVE JULY 1, 2026
Amended Adopted Amended Proposed
24-25 25-26 25-26 26-27
ELECTED
MAYOR
CITY COUNCIL
CITY CLERK
CITY TREASURER
1 4
1 1
1 4
1 1
1 4
1 1
1 4
1 1
TOTALS
7 7
7 7
Amended Adopted Amended Proposed
24-25 25-26 25-26 26-27
APPOINTED (DOES NOT INCLUDE ALTERNATES)
CITIZENS' OVERSIGHT COMMITTEE
FINANCIAL AUDIT OVERSIGHT COMMITTEE
HERITAGE COMMITTEE
HISTORICAL COMMITTEE
PARKS ARTS AND RECREATION COMMISSION (PARC)
PLANNING COMMISSION
SENIOR ADVISORY COMMITTEE
SENIOR/COMMUNITY CENTER BLUE RIBBON COMMITTEE
STREETSCAPE AND TRANSPORTATION ADVISORY COMMISSION
VETERANS ADVISORY COMMITTEE
3 5
8 9
5 7
7 9
6 10
3 5
8 9
5 7
7 9
6 10
3 5
8 9
5 7
7 9
6 10
3 5
8 9
5 7
7 9
6 10
TOTALS
69 69
69 69
Amended Adopted Amended Proposed
24-25 25-26 25-26 26-27
CITY ADMINISTRATOR
CITY ADMINISTRATOR
COMMUNICATIONS & MARKETING MANAGER
EXECUTIVE ADMINISTRATIVE ASSISTANT TO THE CA
1 1
1 1
1 1
1 1
1 1
0 1
TOTALS 3
3 3
2 Amended Adopted Amended Proposed
24-25 25-26
25-26 26-27
ADMINISTRATIVE SERVICES
ADMINISTRATIVE ASSISTANT
ADMINISTRATIVE SPECIALIST
DEPUTY CITY ADMINISTRATOR
DEPUTY CITY CLERK
DEPUTY DIRECTOR OF ADMINISTRATIVE SERVICES
DIGITAL MEDIA ANALYST
INFORMATION TECHNOLOGY MANAGER
INFORMATION TECHNOLOGY SPECIALIST
INFORMATION TECHNOLOGY TECHNICIAN
PUBLIC SAFETY COMMUNICATIONS MANAGER
PUBLIC SAFETY COMMUNICATIONS SUPERVISOR
PUBLIC SAFETY DISPATCHER (1 OVERHIRE)
RISK ANALYST
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 0
1 1
1 1
1 1
1 1
1 1
1 2
1 1
1 1
1 1
1 1
3 3
3 2
13 13
13 13
0 0
1 1
598
CITY OF PLACENTIA
POSITION ALLOCATION PLAN
FISCAL YEAR 2026-27
EFFECTIVE JULY 1, 2026
Amended Adopted Amended Proposed
24-25 25-26 25-26 26-27
ADMINISTRATIVE SERVICES (CONTINUED)
RISK MANAGER
SENIOR MANAGEMENT ANALYST
1 1
1 1
0 0
0 0
TOTALS 28
HUMAN RESOURCES
DIRECTOR OF HUMAN RESOURCES
HUMAN RESOURCES ANALYST
SENIOR HUMAN RESOURCES ANALYST
HUMAN RESOURCES TECHNICIAN
HUMAN RESOURCES OFFICE CLERK
SENIOR HUMAN RESOURCES TECHNICIAN
28 27
26 Amended Adopted Amended Proposed
24-25 25-26 25-26 26-27
1 1
1 0
1 1
1 1
1 1
1 1
1 1
1 0
0 0
1 1
1 1
0 0
TOTALS
FINANCE
ACCOUNTING TECHNICIAN
DIRECTOR OF FINANCE
FINANCE MANAGER
SENIOR ACCOUNTANT
SENIOR ACCOUNTING TECHNICIAN
SENIOR FINANCIAL ANALYST
5 5
4 4
Amended Adopted Amended Proposed
24-25 25-26 25-26 26-27
4 1
1 1
1 1
4 1
1 1
1 1
4 4
1 1
1 1
1 1
1 1
1 1
TOTALS 9
9 9
9 Amended Adopted Amended Proposed
24-25 25-26 25-26 26-27
DEVELOPMENT SERVICES
ADMINISTRATIVE ASSISTANT
ASSOCIATE PLANNER
BUILDING INSPECTION MANAGER
BUILDING INSPECTOR
BUILDING PERMIT TECHNICIAN
CODE ENFORCEMENT OFFICER
CODE ENFORCEMENT SUPERVISOR
DIRECTOR OF DEVELOPMENT SERVICES
GIS TECHNICIAN
PLANNING MANAGER
PLANNING TECHNICIAN
SENIOR BUILDING PERMIT TECHNICIAN
1 1
1 1
2 1
1 1
1 1
1 0
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
1 1
0 1
TOTALS
12 12 12 11
599
CITY OF PLACENTIA
POSITION ALLOCATION PLAN
FISCAL YEAR 2026-27
EFFECTIVE JULY 1, 2026
Amended Adopted Amended Proposed
24-25 25-26 25-26 26-27
PUBLIC SAFETY - POLICE
CAPTAIN
CHIEF OF POLICE
COMMUNITY SERVICES OFFICER
CRIME ANALYST
IT SERGEANT
LIEUTENANT
MANAGEMENT ANALYST
OFFICE SPECIALIST - RECORDS
POLICE RECORDS TECHNICIAN
PARKING CONTROL OFFICER
POLICE ACADEMY TRAINEE
POLICE CIVILIAN INVESTIGATOR
POLICE OFFICER (3 OVERHIRE)
POLICE SERVICES OFFICER
POLICE SERVICES SUPERVISOR
SUPPORT SERVICES ADMINISTRATOR
PROPERTY TECHNICIAN
SERGEANT
SR. ADMINISTRATIVE ASSISTANT
2 1
2 1
1 3
1 3
0 2
1 3
39 2
3 0
1 10
1 2
1 1
1 1
3 1
0 3
2 1
3 39
2 2
1 1
10 1
2 1
1 1
0 3
1 0
3 2
1 3
39 2
2 1
1 10
1 2
1 1
1 0
3 1
0 3
2 1
3 39
2 2
1 1
10 1
TOTALS 76
75 74
74 Amended Adopted Amended Proposed
24-25 25-26 25-26 26-27
FIRE & LIFE SAFETY
ADMINISTRATIVE ASSISTANT
BATTALION CHIEF
DEPUTY FIRE CHIEF
FIRE CAPTAIN
FIRE CHIEF
FIRE ENGINEER
FIRE MARSHAL
FIRE PREVENTION SPECIALIST
FIREFIGHTER
SENIOR MANAGEMENT ANALYST
1 3
1 6
1 6
1 1
9 1
1 3
1 6
1 6
1 1
9 1
1 3
1 6
1 6
1 1
9 1
1 3
1 6
1 6
1 1
9 1
TOTALS
30 30
30 30
Amended Adopted Amended Proposed
24-25 25-26
25-26 26-27
PUBLIC WORKS
DIRECTOR OF PUBLIC WORKS
DEPUTY DIRECTOR OF PUBLIC WORKS
ADMINISTRATIVE ASSISTANT
ASSOCIATE CIVIL ENGINEER (SEWER)
CUSTODIAN
ENGINEERING AIDE
ENVIRONMENTAL SERVICES COORDINATOR
1 1
1 1
1 2
1 1
1 1
1 1
1 1
1 1
1 2
2 2
1 0
0 0
1 1
1 1
CITY OF PLACENTIA
POSITION ALLOCATION PLAN
FISCAL YEAR 2026-27
EFFECTIVE JULY 1, 2026
Amended Adopted Amended Proposed
24-25 25-26 25-26 26-27
PUBLIC WORKS (CONTINUED)
EQUIPMENT MECHANIC
EQUIPMENT MECHANIC II
FACILITY MAINTENANCE TECHNICIAN
FACILITY MAINTENANCE TECHNICIAN II
MAINTENANCE WORKER
MANAGEMENT ANALYST
MANAGEMENT ASSISTANT
PUBLIC WORKS INSPECTOR
PUBLIC WORKS MANAGER
PUBLIC WORKS SUPERINTENDENT
PUBLIC WORKS SUPERVISOR
SENIOR CIVIL ENGINEER
SENIOR CUSTODIAN
SENIOR MANAGEMENT ANALYST
TRANSPORTATION MANAGER
2 0
2 0
8 0
1 1
1 1
2 1
1 1
1 2
0 3
0 7
0 0
1 0
1 2
1 1
1 1
1 1
3 0
7 1
0 1
1 0
2 1
1 0
1 1
1 5
1 7
1 0
1 1
0 2
1 1
0 1
TOTALS
29 28
27 30
Amended Adopted Amended Proposed
24-25 25-26 25-26 26-27
COMMUNITY SERVICES
ADMINISTRATIVE ASSISTANT
COMMUNITY SERVICES COORDINATOR
COMMUNITY SERVICES SUPERVISOR
DEPUTY DIRECTOR OF COMMUNITY SERVICES
DIRECTOR OF COMMUNITY SERVICES
FACILITY MAINTENANCE TECHNICIAN
MANAGEMENT ANALYST
1 4
3 0
1 3
0 1
3 3
0 1
3 0
1 3
3 0
1 3
1 3
3 0
0 1
0 0
TOTALS
12 11
11 8
SUMMARY
FULL-TIME FUNDED PERSONNEL
200
197
193
190
UNFUNDED OVERHIRES
4 4
4 4
ELECTED & APPOINTED PERSONNEL
76 76
76 76
GRAND TOTAL
280
277
273
270
*Overhires are not funded
601
Master Salary Schedule
Job Class and Annual Salary Schedule
Effective July 1, 2026
JOB CLASS
STEP A
STEP B
STEP C
STEP D
STEP E
Hr.
Monthly
Annual
Hr.
Monthly
Annual
Hr.
Monthly
Annual
Hr.
Monthly
Annual
Hr.
Monthly
Annual
ACCOUNT CLERK
22.29 3,863.60
46,363.20
23.49 4,071.60
48,859.20
24.75 4,290.00
51,480.00
26.09 4,522.27
54,267.20
27.51 4,768.40
57,220.80
ACCOUNTANT
37.65 6,526.00
78,312.00
39.53 6,851.87
82,222.40
41.51 7,195.07
86,340.80
43.59 7,555.60
90,667.20
45.76 7,931.73
95,180.80
ACCOUNTING TECHNICIAN
26.18 4,537.87
54,454.40
27.59 4,782.27
57,387.20
29.08 5,040.53
60,486.40
30.66 5,314.40
63,772.80
32.30 5,598.67
67,184.00
ADMINISTRATIVE ASSISTANT
26.04 4,513.60
54,163.20
27.44 4,756.27
57,075.20
28.93 5,014.53
60,174.40
30.50 5,286.67
63,440.00
32.13 5,569.20
66,830.40
ADMINISTRATIVE SPECIALIST
27.88 4,832.53
57,990.40
29.38 5,092.53
61,110.40
30.96 5,366.40
64,396.80
32.63 5,655.87
67,870.40
34.39 5,960.93
71,531.20
ASSISTANT CITY ADMINISTRATOR
88.09 15,268.93
183,227.20
92.50 16,033.33
192,400.00
97.12 16,834.13
202,009.60
101.97
17,674.80
212,097.60
107.07
18,558.80
222,705.60
ASSISTANT PLANNER
32.02 5,550.13
66,601.60
33.76 5,851.73
70,220.80
35.58 6,167.20
74,006.40
37.49 6,498.27
77,979.20
39.52 6,850.13
82,201.60
ASSISTANT TO CA/ ECONOMIC DEVELOPMENT MANAGER
60.89 10,554.27
126,651.20
63.94 11,082.93
132,995.20
67.13 11,635.87
139,630.40
70.49 12,218.27
146,619.20
74.01 12,828.40
153,940.80
ASSOCIATE CIVIL ENGINEER
47.63 8,255.87
99,070.40
50.00 8,666.67
104,000.00
52.51 9,101.73
109,220.80
55.13 9,555.87
114,670.40
57.90 10,036.00
120,432.00
ASSOCIATE PLANNER
41.31 7,160.40
85,924.80
43.38 7,519.20
90,230.40
45.55 7,895.33
94,744.00
47.82 8,288.80
99,465.60
50.21 8,703.07
104,436.80
BUILDING INSPECTION MANAGER
62.45 10,824.67
129,896.00
65.58 11,367.20
136,406.40
68.86 11,935.73
143,228.80
72.30 12,532.00
150,384.00
75.91 13,157.73
157,892.80
BUILDING INSPECTOR
33.23 5,759.87
69,118.40
35.04 6,073.60
72,883.20
36.93 6,401.20
76,814.40
38.92 6,746.13
80,953.60
41.02 7,110.13
85,321.60
BUILDING PERMIT TECHNICIAN
26.18 4,537.87
54,454.40
27.59 4,782.27
57,387.20
29.08 5,040.53
60,486.40
30.66 5,314.40
63,772.80
32.30 5,598.67
67,184.00
CHIEF BUILDING OFFICIAL
57.22 9,918.13
119,017.60
60.09 10,415.60
124,987.20
63.10 10,937.33
131,248.00
66.24 11,481.60
137,779.20
69.56 12,057.07
144,684.80
CHIEF DEPUTY CITY CLERK
46.69 8,092.93
97,115.20
49.03 8,498.53
101,982.40
51.47 8,921.47
107,057.60
54.04 9,366.93
112,403.20
56.74 9,834.93
118,019.20
CITY ADMINISTRATOR
111.52
19,330.16
231,961.92
=
1 152.52
26,436.31
317,235.74
CITY CLERK SPECIALIST
27.88 4,832.53
57,990.40
29.38 5,092.53
61,110.40
30.96 5,366.40
64,396.80
32.63 5,655.87
67,870.40
34.39 5,960.93
71,531.20
CODE ENFORCEMENT MANAGER
46.99 8,144.93
97,739.20
49.34 8,552.27
102,627.20
51.80 8,978.67
107,744.00
54.40 9,429.33
113,152.00
57.12 9,900.80
118,809.60
CODE ENFORCEMENT OFFICER
30.47 5,281.47
63,377.60
32.10 5,564.00
66,768.00
33.84 5,865.60
70,387.20
35.66 6,181.07
74,172.80
37.60 6,517.33
78,208.00
CODE ENFORCEMENT SUPERVISOR
40.05 6,942.00
83,304.00
42.05 7,288.67
87,464.00
44.15 7,652.67
91,832.00
46.35 8,034.00
96,408.00
48.67 8,436.13
101,233.60
COMMUNITY SERVICES COORDINATOR
27.88 4,832.53
57,990.40
29.38 5,092.53
61,110.40
30.96 5,366.40
64,396.80
32.63 5,655.87
67,870.40
34.39 5,960.93
71,531.20
COMMUNITY SERVICES OFFICER
24.89 4,314.27
51,771.20
26.22 4,544.80
54,537.60
27.64 4,790.93
57,491.20
29.13 5,049.20
60,590.40
30.70 5,321.33
63,856.00
COMMUNITY SERVICES SUPERVISOR
40.05 6,942.00
83,304.00
42.05 7,288.67
87,464.00
44.15 7,652.67
91,832.00
46.35 8,034.00
96,408.00
48.67 8,436.13
101,233.60
CRIME ANALYST
40.05 6,942.00
83,304.00
42.05 7,288.67
87,464.00
44.15 7,652.67
91,832.00
46.35 8,034.00
96,408.00
48.67 8,436.13
101,233.60
CRIME PREVENTION OFFICER
25.53 4,425.20
53,102.40
26.91 4,664.40
55,972.80
28.36 4,915.73
58,988.80
29.89 5,180.93
62,171.20
31.50 5,460.00
65,520.00
CUSTODIAN
21.54 3,733.60
44,803.20
22.70 3,934.67
47,216.00
23.92 4,146.13
49,753.60
25.21 4,369.73
52,436.80
26.58 4,607.20
55,286.40
CUSTODIAN Y -RATED*
IIIIP
28.45 4,931.33
59,176.00
DEPUTY CHIEF OF POLICE
89.61 15,532.40
186,388.80
94.09 16,308.93
195,707.20
98.79 17,123.60
205,483.20
103.73
17,979.87
215,758.40
108.92
18,879.47
226,553.60
DEPUTY CITY ADMINISTRATOR
104.50
18,113.33
217,360.00
109.73
19,019.87
228,238.40
115.21
19,969.73
239,636.80
120.96
20,966.40
251,596.80
127.02
22,016.80
264,201.60
DEPUTY CITY CLERK
36.48 6,323.20
75,878.40
38.31 6,640.40
79,684.80
40.23 6,973.20
83,678.40
42.24 7,321.60
87,859.20
44.35 7,687.33
92,248.00
DEPUTY DIRECTOR OF COMMUNITY SERVICES
52.58 9,113.87
109,366.40
55.21 9,569.73
114,836.80
57.97 10,048.13
120,577.60
60.87 10,550.80
126,609.60
63.91 11,077.73
132,932.80
DEPUTY DIRECTOR OF PUBLIC WORKS
68.71 11,909.73
142,916.80
72.13 12,502.53
150,030.40
75.75 13,130.00
157,560.00
79.54 13,786.93
165,443.20
83.50 14,473.33
173,680.00
DEVELOPMENT SERVICES COORDINATOR
30.47 5,281.47
63,377.60
32.10 5,564.00
66,768.00
33.84 5,865.60
70,387.20
35.66 6,181.07
74,172.80
37.60 6,517.33
78,208.00
DIGITAL MEDIA ANALYST
40.05 6,942.00
83,304.00
42.05 7,288.67
87,464.00
44.15 7,652.67
91,832.00
46.35 8,034.00
96,408.00
48.67 8,436.13
101,233.60
DIRECTOR OF COMMUNITY SERVICE
83.93 14,547.87
174,574.40
88.12 15,274.13
183,289.60
92.53 16,038.53
192,462.40
97.16 16,841.07
202,092.80
102.00
17,680.00
212,160.00
DIRECTOR OF DEVELOPMENT SVCS
83.93 14,547.87
174,574.40
88.12 15,274.13
183,289.60
92.53 16,038.53
192,462.40
97.16 16,841.07
202,092.80
102.00
17,680.00
212,160.00
DIRECTOR OF FINANCE
83.93 14,547.87
174,574.40
88.12 15,274.13
183,289.60
92.53 16,038.53
192,462.40
97.16 16,841.07
202,092.80
102.00
17,680.00
212,160.00
DIRECTOR OF HUMAN RESOURCES
79.74 13,821.60
165,859.20
83.72 14,511.47
174,137.60
87.90 15,236.00
182,832.00
92.30 15,998.67
191,984.00
96.91 16,797.73
201,572.80
DIRECTOR OF PUBLIC WORKS
83.93 14,547.87
174,574.40
88.12 15,274.13
183,289.60
92.53 16,038.53
192,462.40
97.16 16,841.07
202,092.80
102.00
17,680.00
212,160.00
ECONOMIC DEVELOPMENT MANAGER
46.99 8,144.93
97,739.20
49.34 8,552.27
102,627.20
51.80 8,978.67
107,744.00
54.40 9,429.33
113,152.00
57.12 9,900.80
118,809.60
ENGINEERING AIDE
20.64 3,577.60
42,931.20
21.76 3,771.73
45,260.80
22.94 3,976.27
47,715.20
24.17 4,189.47
50,273.60
25.48 4,416.53
52,998.40
ENVIRONMENTAL COMPLIANCE OFFICER
31.24 5,414.93
64,979.20
32.92 5,706.13
68,473.60
34.70 6,014.67
72,176.00
36.58 6,340.53
76,086.40
38.55 6,682.00
80,184.00
EQUIPMENT MECHANIC
28.15 4,879.33
58,552.00
29.67 5,142.80
61,713.60
31.27 5,420.13
65,041.60
32.96 5,713.07
68,556.80
34.74 6,021.60
72,259.20
EQUIPMENT MECHANIC II
29.56 5,123.73
61,484.80
31.16 5,401.07
64,812.80
32.85 5,694.00
68,328.00
34.62 6,000.80
72,009.60
36.49 6,324.93
75,899.20
EXECUTIVE ASSISTANT TO CITY ADMINISTRATOR
31.87 5,524.13
66,289.60
33.59 5,822.27
69,867.20
35.41 6,137.73
73,652.80
37.31 6,467.07
77,604.80
39.33 6,817.20
81,806.40
FACILITIES MAINTENANCE TECH
27.99 4,851.60
58,219.20
29.50 5,113.33
61,360.00
31.10 5,390.67
64,688.00
32.77 5,680.13
68,161.60
34.54 5,986.93
71,843.20
FACILITIES MAINTENANCE TECH II
29.56 5,123.73
61,484.80
31.16 5,401.07
64,812.80
32.85 5,694.00
68,328.00
34.62 6,000.80
72,009.60
36.49 6,324.93
75,899.20
FINANCE MANAGER
54.93 9,521.20
114,254.40
57.68 9,997.87
119,974.40
60.55 10,495.33
125,944.00
63.59 11,022.27
132,267.20
66.76 11,571.73
138,860.80
FIRE BATTALION CHIEF
45.70 11,089.87
133,078.40
48.16 11,686.83
140,241.92
50.77 12,320.19
147,842.24
53.51 12,985.09
155,821.12
56.40 13,686.40
164,236.80
602
Master Salary Schedule
Job Class and Annual Salary Schedule
Effective July 1, 2026
JOB CLASS
STEP A
STEP B
STEP C
STEP D
STEP E
Hr.
Monthly
Annual
Hr.
Monthly
Annual
Hr.
Monthly
Annual
Hr.
Monthly
Annual
Hr.
Monthly
Annual
FIRE CAPTAIN
34.47 8,364.72
100,376.64
36.33 8,816.08
105,792.96
38.30 9,294.13
111,529.60
40.36 9,794.03
117,528.32
42.53 10,320.61
123,847.36
FIRE CHIEF
83.93 14,547.87
174,574.40
88.12 15,274.13
183,289.60
92.53 16,038.53
192,462.40
97.16 16,841.07
202,092.80
102.00
17,680.00
212,160.00
FIRE DEPUTY CHIEF
75.03 13,005.20
156,062.40
78.78 13,655.20
163,862.40
82.71 14,336.40
172,036.80
86.86 15,055.73
180,668.80
91.20 15,808.00
189,696.00
FIRE ENGINEER
29.58 7,178.08
86,136.96
31.17 7,563.92
90,767.04
32.85 7,971.60
95,659.20
34.64 8,405.97
100,871.68
36.51 8,859.76
106,317.12
FIRE FIGHTER
26.00 6,309.33
75,712.00
27.40 6,649.07
79,788.80
28.88 7,008.21
84,098.56
30.45 7,389.20
88,670.40
32.09 7,787.17
93,446.08
FIRE MARSHAL
64.60 11,197.33
134,368.00
68.09 11,802.27
141,627.20
71.77 12,440.13
149,281.60
75.65 13,112.67
157,352.00
79.73 13,819.87
165,838.40
FIRE PREVENTION SPECIALIST
40.05 6,942.00
83,304.00
42.05 7,288.67
87,464.00
44.15 7,652.67
91,832.00
46.35 8,034.00
96,408.00
48.67 8,436.13
101,233.60
GIS SPECIALIST
26.04 4,513.60
54,163.20
27.44 4,756.27
57,075.20
28.93 5,014.53
60,174.40
30.50 5,286.67
63,440.00
32.13 5,569.20
66,830.40
GIS TECHNICIAN
33.23 5,759.87
69,118.40
35.04 6,073.60
72,883.20
36.93 6,401.20
76,814.40
38.92 6,746.13
80,953.60
41.02 7,110.13
85,321.60
HUMAN RESOURCE ANALYST
40.05 6,942.00
83,304.00
42.05 7,288.67
87,464.00
44.15 7,652.67
91,832.00
46.35 8,034.00
96,408.00
48.67 8,436.13
101,233.60
HUMAN RESOURCE TECHNICIAN
29.34 5,085.60
61,027.20
30.92 5,359.47
64,313.60
32.58 5,647.20
67,766.40
34.35 5,954.00
71,448.00
36.20 6,274.67
75,296.00
HUMAN RESOURCES MANAGER
46.99 8,144.93
97,739.20
49.34 8,552.27
102,627.20
51.80 8,978.67
107,744.00
54.40 9,429.33
113,152.00
57.12 9,900.80
118,809.60
INFORMATION TECHNOLOGY MANAGER
62.71 10,869.73
130,436.80
65.85 11,414.00
136,968.00
69.14 11,984.27
143,811.20
72.60 12,584.00
151,008.00
76.23 13,213.20
158,558.40
INFORMATION TECHNOLOGY SPECIALIST
39.57 6,858.80
82,305.60
41.54 7,200.27
86,403.20
43.62 7,560.80
90,729.60
45.80 7,938.67
95,264.00
48.09 8,335.60
100,027.20
INFORMATION TECHNOLOGY TECH
33.23 5,759.87
69,118.40
35.04 6,073.60
72,883.20
36.93 6,401.20
76,814.40
38.92 6,746.13
80,953.60
41.02 7,110.13
85,321.60
MAINTENANCE CREW LEADER
28.73 4,979.87
59,758.40
30.28 5,248.53
62,982.40
31.90 5,529.33
66,352.00
33.63 5,829.20
69,950.40
35.45 6,144.67
73,736.00
MAINTENANCE WORKER
25.53 4,425.20
53,102.40
26.91 4,664.40
55,972.80
28.36 4,915.73
58,988.80
29.89 5,180.93
62,171.20
31.50 5,460.00
65,520.00
MANAGEMENT ANALYST
40.05 6,942.00
83,304.00
42.05 7,288.67
87,464.00
44.15 7,652.67
91,832.00
46.35 8,034.00
96,408.00
48.67 8,436.13
101,233.60
MANAGEMENT ASSISTANT
29.32 5,082.13
60,985.60
30.91 5,357.73
64,292.80
32.58 5,647.20
67,766.40
34.34 5,952.27
71,427.20
36.19 6,272.93
75,275.20
MEDIA SERVICES SPECIALIST
30.47 5,281.47
63,377.60
32.10 5,564.00
66,768.00
33.84 5,865.60
70,387.20
35.66 6,181.07
74,172.80
37.60 6,517.33
78,208.00
NEIGHBORHOOD SERVICES MANAGER
46.99 8,144.93
97,739.20
49.34 8,552.27
102,627.20
51.80 8,978.67
107,744.00
54.40 9,429.33
113,152.00
57.12 9,900.80
118,809.60
OFFICE ASSISTANT
20.12 3,487.47
41,849.60
21.20 3,674.67
44,096.00
22.34 3,872.27
46,467.20
23.55 4,082.00
48,984.00
24.81 4,300.40
51,604.80
OFFICE CLERK
22.29 3,863.60
46,363.20
23.49 4,071.60
48,859.20
24.75 4,290.00
51,480.00
26.09 4,522.27
54,267.20
27.51 4,768.40
57,220.80
OFFICE SPECIALIST
23.74 4,114.93
49,379.20
25.02 4,336.80
52,041.60
26.38 4,572.53
54,870.40
27.79 4,816.93
57,803.20
29.29 5,076.93
60,923.20
PARKING CONTROL OFFICER
21.54 3,733.60
44,803.20
22.70 3,934.67
47,216.00
23.92 4,146.13
49,753.60
25.21 4,369.73
52,436.80
26.58 4,607.20
55,286.40
PLANNING AIDE
20.64 3,577.60
42,931.20
21.76 3,771.73
45,260.80
22.94 3,976.27
47,715.20
24.17 4,189.47
50,273.60
25.48 4,416.53
52,998.40
PLANNING MANAGER
62.45 10,824.67
129,896.00
65.58 11,367.20
136,406.40
68.86 11,935.73
143,228.80
72.30 12,532.00
150,384.00
75.91 13,157.73
157,892.80
PLANNING TECH
26.18 4,537.87
54,454.40
27.59 4,782.27
57,387.20
29.08 5,040.53
60,486.40
30.66 5,314.40
63,772.80
32.30 5,598.67
67,184.00
PLANS EXAMINER
46.29 8,023.60
96,283.20
48.60 8,424.00
101,088.00
51.03 8,845.20
106,142.40
53.58 9,287.20
111,446.40
56.26 9,751.73
117,020.80
POLICE ACADEMY TRAINEE
45.57 7,899.06
94,788.72
POLICE CAPTAIN
88.64 15,364.27
184,371.20
93.43 16,194.53
194,334.40
98.46 17,066.40
204,796.80
103.78
17,988.53
215,862.40
109.39
18,960.93
227,531.20
POLICE CHIEF
93.68 16,237.87
194,854.40
98.36 17,049.07
204,588.80
103.29
17,903.60
214,843.20
108.45
18,798.00
225,576.00
113.87
19,737.47
236,849.60
POLICE CIVILIAN INVESTIGATOR
34.47 5,974.80
71,697.60
36.34 6,298.93
75,587.20
38.31 6,640.40
79,684.80
40.37 6,997.47
83,969.60
42.55 7,375.33
88,504.00
POLICE LIEUTENANT
75.64 13,110.93
157,331.20
79.72 13,818.13
165,817.60
84.03 14,565.20
174,782.40
88.56 15,350.40
184,204.80
93.34 16,178.93
194,147.20
POLICE OFFICER
47.97 8,314.80
99,777.60
50.56 8,763.73
105,164.80
53.28 9,235.20
110,822.40
56.17 9,736.13
116,833.60
59.20 10,261.33
123,136.00
POLICE PROPERTY TECHNICIAN
30.78 5,335.20
64,022.40
32.45 5,624.67
67,496.00
34.20 5,928.00
71,136.00
36.05 6,248.67
74,984.00
38.00 6,586.67
79,040.00
POLICE RECORDS TECHNICIAN
30.78 5,335.20
64,022.40
32.45 5,624.67
67,496.00
34.20 5,928.00
71,136.00
36.05 6,248.67
74,984.00
38.00 6,586.67
79,040.00
POLICE SERGEANT
62.79 10,883.60
130,603.20
66.18 11,471.20
137,654.40
69.75 12,090.00
145,080.00
73.52 12,743.47
152,921.60
77.49 13,431.60
161,179.20
POLICE SERVICE OFFICER
24.89 4,314.27
51,771.20
26.22 4,544.80
54,537.60
27.64 4,790.93
57,491.20
29.13 5,049.20
60,590.40
30.70 5,321.33
63,856.00
POLICE SERVICES SUPERVISOR
36.20 6,274.67
75,296.00
38.16 6,614.40
79,372.80
40.23 6,973.20
83,678.40
42.39 7,347.60
88,171.20
44.69 7,746.27
92,955.20
PUBLIC SAFETY COMMUNICATION MANAGER
62.71 10,869.73
130,436.80
65.85 11,414.00
136,968.00
69.14 11,984.27
143,811.20
72.60 12,584.00
151,008.00
76.23 13,213.20
158,558.40
PUBLIC SAFETY COMMUNICATION SUPERVISOR
47.01 8,148.40
97,780.80
49.55 8,588.67
103,064.00
52.22 9,051.47
108,617.60
55.04 9,540.27
114,483.20
58.00 10,053.33
120,640.00
PUBLIC SAFETY DISPATCHER
33.84 5,865.60
70,387.20
35.66 6,181.07
74,172.80
37.60 6,517.33
78,208.00
39.62 6,867.47
82,409.60
41.76 7,238.40
86,860.80
PUBLIC WORKS INSPECTOR
32.80 5,685.33
68,224.00
34.58 5,993.87
71,926.40
36.44 6,316.27
75,795.20
38.41 6,657.73
79,892.80
40.48 7,016.53
84,198.40
PUBLIC WORKS MANAGER
62.45 10,824.67
129,896.00
65.58 11,367.20
136,406.40
68.86 11,935.73
143,228.80
72.30 12,532.00
150,384.00
75.91 13,157.73
157,892.80
PUBLIC WORKS SUPERINTENDENT
46.99 8,144.93
97,739.20
49.34 8,552.27
102,627.20
51.80 8,978.67
107,744.00
54.40 9,429.33
113,152.00
57.12 9,900.80
118,809.60
PUBLIC WORKS SUPERVISOR
40.05 6,942.00
83,304.00
42.05 7,288.67
87,464.00
44.15 7,652.67
91,832.00
46.35 8,034.00
96,408.00
48.67 8,436.13
101,233.60
RISK MANAGEMENT ANALYST
40.05 6,942.00
83,304.00
42.05 7,288.67
87,464.00
44.15 7,652.67
91,832.00
46.35 8,034.00
96,408.00
48.67 8,436.13
101,233.60
RISK MANAGER
62.71 10,869.73
130,436.80
65.85 11,414.00
136,968.00
69.14 11,984.27
143,811.20
72.60 12,584.00
151,008.00
76.23 13,213.20
158,558.40
603
Master Salary Schedule
Job Class and Annual Salary Schedule
Effective July 1, 2026
JOB CLASS
STEP A
STEP B
STEP C
STEP D
STEP E
Hr.
Monthly
Annual
Hr.
Monthly
Annual
Hr.
Monthly
Annual
Hr.
Monthly
Annual
Hr.
Monthly
Annual
SENIOR ACCOUNTANT
46.29 8,023.60
96,283.20
48.60 8,424.00
101,088.00
51.03 8,845.20
106,142.40
53.58 9,287.20
111,446.40
56.26 9,751.73
117,020.80
SENIOR ACCOUNTANT II
52.58 9,113.87
109,366.40
55.21 9,569.73
114,836.80
57.97 10,048.13
120,577.60
60.87 10,550.80
126,609.60
63.91 11,077.73
132,932.80
SENIOR ACCOUNTING TECHNICIAN
29.34 5,085.60
61,027.20
30.92 5,359.47
64,313.60
32.58 5,647.20
67,766.40
34.35 5,954.00
71,448.00
36.20 6,274.67
75,296.00
SENIOR ADMINISTRATIVE ASSISTANT
30.47 5,281.47
63,377.60
32.10 5,564.00
66,768.00
33.84 5,865.60
70,387.20
35.66 6,181.07
74,172.80
37.60 6,517.33
78,208.00
SENIOR BUILDING INSPECTOR
33.61 5,825.73
69,908.80
35.44 6,142.93
73,715.20
37.35 6,474.00
77,688.00
39.36 6,822.40
81,868.80
41.49 7,191.60
86,299.20
SENIOR BUILDING PERMIT TECHNICIAN
29.34 5,085.60
61,027.20
30.92 5,359.47
64,313.60
32.58 5,647.20
67,766.40
34.35 5,954.00
71,448.00
36.20 6,274.67
75,296.00
SENIOR CIVIL ENGINEER
60.89 10,554.27
126,651.20
63.94 11,082.93
132,995.20
67.13 11,635.87
139,630.40
70.49 12,218.27
146,619.20
74.01 12,828.40
153,940.80
SENIOR CODE ENFORCEMENT OFFICER
33.23 5,759.87
69,118.40
35.04 6,073.60
72,883.20
36.93 6,401.20
76,814.40
38.92 6,746.13
80,953.60
41.02 7,110.13
85,321.60
SENIOR CUSTODIAN
26.29 4,556.93
54,683.20
27.72 4,804.80
57,657.60
29.21 5,063.07
60,756.80
30.78 5,335.20
64,022.40
32.46 5,626.40
67,516.80
SENIOR ENGINEERING AIDE
29.56 5,123.73
61,484.80
31.16 5,401.07
64,812.80
32.85 5,694.00
68,328.00
34.62 6,000.80
72,009.60
36.49 6,324.93
75,899.20
SENIOR FINANCIAL ANALYST
46.69 8,092.93
97,115.20
49.03 8,498.53
101,982.40
51.47 8,921.47
107,057.60
54.04 9,366.93
112,403.20
56.74 9,834.93
118,019.20
SENIOR HUMAN RESOURCE ANALYST
46.69 8,092.93
97,115.20
49.03 8,498.53
101,982.40
51.47 8,921.47
107,057.60
54.04 9,366.93
112,403.20
56.74 9,834.93
118,019.20
SENIOR HUMAN RESOURCE TECHNICIAN
30.78 5,335.20
64,022.40
32.45 5,624.67
67,496.00
34.20 5,928.00
71,136.00
36.05 6,248.67
74,984.00
38.00 6,586.67
79,040.00
SENIOR MANAGEMENT ANALYST
46.69 8,092.93
97,115.20
49.03 8,498.53
101,982.40
51.47 8,921.47
107,057.60
54.04 9,366.93
112,403.20
56.74 9,834.93
118,019.20
SENIOR PLANNER
52.58 9,113.87
109,366.40
55.21 9,569.73
114,836.80
57.97 10,048.13
120,577.60
60.87 10,550.80
126,609.60
63.91 11,077.73
132,932.80
SENIOR BUILDING PERMIT TECHNICIAN
29.34 5,085.60
61,027.20
30.92 5,359.47
64,313.60
32.58 5,647.20
67,766.40
34.35 5,954.00
71,448.00
36.20 6,274.67
75,296.00
SUPPORT SERVICES ADMINISTRATOR
40.05 6,942.00
83,304.00
42.05 7,288.67
87,464.00
44.15 7,652.67
91,832.00
46.35 8,034.00
96,408.00
48.67 8,436.13
101,233.60
TRANSPORTATION MANAGER
57.22 9,918.13
119,017.60
60.09 10,415.60
124,987.20
63.10 10,937.33
131,248.00
66.24 11,481.60
137,779.20
69.56 12,057.07
144,684.80
PART TIME
JOB CLASS
STEP A
STEP B
STEP C
STEP D
Hr.
Hr.
Hr.
Hr.
ADMINISTRATIVE INTERN
16.90 CLERICAL AIDE
18.54 18.91
19.29 19.67
COMMUNITY SERVICES LEADER
16.90 COMMUNITY SERVICES SPECIALIST
17.57 17.93
18.28 18.64
INSTRUCTOR GUARD
17.57 17.93
18.28 18.64
LIFEGUARD
16.90 17.23
MAINTENANCE AIDE
16.90 POLICE CADET
16.90 POLICE RESERVE OFFICER LEVEL 1
21.43 22.82
24.21 25.70
POOL MANAGER
20.82 21.24
21.65 22.00
PRODUCTION ASSISTANT
16.90 PRODUCTION COORDINATOR
19.50 19.89
20.29 20.69
PROGRAM COORDINATOR
21.00 21.42
21.85 22.29
SENIOR COMMUNITY SERVICES LEADER
16.90 17.23
SENIOR COMMUNITY SERVICES SPECIALIST
19.03 19.41
19.80 20.20
SENIOR INSTRUCTOR GUARD
19.69 20.09
20.49 20.90
ELECTED
JOB CLASS
SALARY
MONTHLY
MAYOR/COUNCILMEMBERS
150
CITY CLERK
150
CITY TREASURER
50 604
Job Classification Description
Equal Employment Opportunity
FACILITIES MAINTENANCE TECHNICIAN II
(FACILITIES CREW LEADER)
JOB FAMILY: Public Works/Building Maintenance
EEO CATEGORY: Service Workers/Service Maintenance
FLSA: Non -Exempt
WC CLASS CODE: 9420: Municipal/State/Public
Agency —Other
PAY PLAN: Full -Time Pay Plan
UNION STATUS: Placentia City Employees' Association
(PCEA)
GRADE:
UPDATED: July 2026
PREVIOUS UPDATE:
PURPOSE STATEMENT:
Under the direction of the Public Works Supervisor, the Facilities Crew Leader leads the work of a regularly assigned crew engaged in the construction, alteration, maintenance, and repair of city buildings, facilities, irrigation systems, and related equipment; operates specialized equipment and performs more difficult or skilled facilities maintenance tasks; and performs other related duties as assigned.
ESSENTIAL FUNCTIONS, DUTIES, AND TASKS:
The following list of functions, duties, and tasks is typical for this classification. Incumbents may not perform all of the listed duties and/or may be required to perform other closely related or department -specific functions, duties, and tasks from those set forth below to address business needs and changing business practices. • Leads and participates in advanced maintenance, repair, installation, and construction work on city buildings, facilities, irrigation systems, and related equipment. • Supervises the use and operation of a variety of vehicles, tools, and equipment used in facilities maintenance and repair work, including power and manual tools, welding equipment, electrical diagnostic tools, plumbing equipment, HVAC systems equipment, and light and moderately heavy power -driven equipment.
• Performs and oversees advanced troubleshooting and repair of electrical, plumbing, irrigation, HVAC, carpentry, and mechanical system issues.
• Trains assigned employees in proper work layout, methods, techniques, and in the safe and appropriate use and operation of equipment, tools, and materials.
• Observes work in progress and upon completion for assigned employees and evaluates productivity, quality, safety, and compliance with applicable work methods, codes, and city standards. • Ensures that safety procedures, work practices, and traffic control measures are properly implemented and followed.
• Assures preventative maintenance schedules are followed, and work areas, tools, and equipment are regularly maintained and cleaned.
• Estimates labor, materials, and equipment needed for assigned projects; requisitions and orders materials and supplies; maintains work records and inventory documentation. • Assists the Public Works Supervisor in preparing activity records and providing feedback for crewmember performance evaluations.
• Performs advanced painting, carpentry, masonry, plumbing, irrigation, HVAC, electrical, welding, and general building maintenance tasks as needed.
Facilities Maintenance Technician II (Facilities Crew Leader) Page 1 of 3 605
• Leads the installation, inspection, repair, and maintenance of playground equipment, security fencing, gates, locks, and related facility infrastructure.
• Reviews completed work for accuracy, quality, and compliance with applicable codes, standards, and safety requirements.
OTHER DUTIES:
• Performs other related duties as assigned to ensure the efficient and effective functioning of the work unit and the City.
KNOWLEDGE, SKILLS, AND ABILITIES
(At time of application)
Knowledge of:
• Principles of lead supervision and training
• Advanced principles and practices of carpentry, electrical, plumbing, heating, ventilation, air conditioning, welding, and general building maintenance work
• Refrigeration systems, refrigerant gases, and their uses • Methods and techniques used in facility, building, and irrigation system maintenance and repair work • Operational characteristics of equipment and tools used in facilities maintenance and repair • Occupational hazards and standard safety practices necessary in facilities maintenance and repair work • Applicable building, electrical, plumbing, and safety codes and regulations • Principles and procedures of record keeping and reporting • Safe driving principles and practices
• Basic mathematical principles related to construction and maintenance trades Skills and Abilities to:
• Read, interpret, and apply a wide variety of technical information from manuals, drawings, specifications, layouts, blueprints, schematics, and wiring diagrams
• Operate a variety of motorized vehicles and hand and power tools and equipment in a safe and effective manner
• Troubleshoot and resolve complex building maintenance and repair issues independently • Work independently in the absence of supervision
• Communicate clearly and concisely, both orally and in writing • Organize and prioritize tasks to meet deadlines and change operational needs • Provide technical guidance and training to assigned staff • Establish, maintain, and foster positive and harmonious working relationships with staff, management, contractors, vendors, and others encountered in the course of work • Interpret policies and procedures
• Use math and mathematical reasoning
JOB QUALIFICATIONS / REQUIREMENTS:
(At time of application and in addition to the Knowledge, Skills, and Abilities listed above.) EDUCATION AND EXPERIENCE:
Any combination of training, education, and experience that would provide the required knowledge, skills, and abilities is qualifying.
• Graduation from high school or G.E.D. equivalent and four years of increasingly responsible journey - level experience in facilities, building, and/or irrigation maintenance and repair work; or an equivalent combination of training and experience.
LICENSE(S) REQUIRED:
Facilities Maintenance Technician II (Facilities Crew Leader) Page 2 of 3 606
• Valid, current driver's license.
o The City reasonably expects driving to be one of the job functions for the position, and the City reasonably believes that using an alternative form of transportation would not be comparable in travel time or cost to the City.
• Class B Commercial driver's license is preferred but not required.
CERTIFICATIONS AND TESTING REQUIRED:
• None required
WORK ENVIRONMENT / PHYSICAL DEMANDS:
(Must be performed with or without reasonable accommodations) • Works indoors and outdoors in accessing and performing maintenance and repair functions involving city buildings, facilities, and equipment
• Drives to and from different locations and is exposed to outside weather conditions, traffic, extremely hot and cold surfaces and work areas, moisture, wetness, dust, oils, greases, fumes, and mechanical and electrical hazards
• Works with various cleaning agents
• Noise level is loud when the employee is operating power tools and equipment • May work on -call or be expected to respond to emergency situations • Regularly required to use hands to finger, handle, feel or operate objects, tools, or controls and reach with hands and arms
• Frequently stand and walk in work areas and occasionally sit while completing records and reports, and talk and hear
• Stoop, squat, crawl, and work within confined physical spaces • Climb stairs, ladders, or small stools, and lift and carry parts, supplies, and equipment, typically weighing up to 50 pounds.
• Specific vision abilities required by this job include close vision, color vision, and the ability to adjust focus DISASTER SERVICE WORKER:
Under California law (California Government Code Section 3100-3109), all City of Placentia employees are designated as Disaster Service Workers, (DSW). In the event of a catastrophic event, City of Placentia employees may be expected to fulfill emergency action assignments. As DSW's, employees may be assigned to assist in any disaster service activity that promotes the protection of public health and safety and preservation of lives and property.
Facilities Maintenance Technician II (Facilities Crew Leader) Page 3 of 3 607
RESOLUTION NO. R-2026-40
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PLACENTIA, CALIFORNIA APPROVING AND ADOPTING
THE ANNUAL APPROPRIATIONS LIMIT FOR THE FISCAL
YEAR 2026-27 IN THE AMOUNT OF $131,672,638
A. Recitals.
(i) The voters of California on November 6, 1979, added Article XIIIB to the State Constitution placing various limitations on the appropriations of the State and local governments; and
(ii) Article XIIIB, as amended in 1990, provides that the appropriations limit for the Fiscal Year 2026-27 is calculated by adjusting the base year appropriations of Fiscal Year 1986-87 for changes in the cost of living and population; and (iii) The City of Placentia has complied with all of the provisions of Article XIIIB in determining the appropriations limit for the Fiscal Year 2026-27.
B. Resolution.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLACENTIA DOES HEREBY FIND, DETERMINE AND RESOLVE AS FOLLOWS:
1. That the appropriations limit in Fiscal Year 2026-27 shall be based on the 2025-26 appropriation limit of $128,022,711 as established by Resolution No. R-2025- 26, and adjusted based on Proposition 111 guidelines by the California Per Capita Personal Income change of +4.95% and the City population change of -0.02% as reported by the State Department of Finance during May 2026, thus creating a new appropriations limit for Fiscal Year 2026-27 in the amount of $131,672,638.
Resolution No. R-2026-40
608
APPROVED and ADOPTED this 30th day of June 2026
Chad P. Wanke, Mayor
ATTEST:
Robert S. McKinnell, City Clerk
STATE OF CALIFORNIA
COUNTY OF ORANGE
I, Robert S. McKinnell, City Clerk of the City of Placentia, do hereby certify that the foregoing Resolution was adopted at a regular meeting of the City Council of the City of Placentia held on the 30th day of June 2026, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
ABSTAIN: COUNCILMEMBERS:
Robert S. McKinnell, City Clerk
APPROVED AS TO FORM:
Christian L. Bettenhausen, City Attorney
Exhibit A: GANN Appropriations Limit FY 2026-2027
Resolution No. R-2026-40
609
GANN APPROPRIATIONS LIMIT
In November 1979 the voters of the State of California approved Proposition 4, commonly known as the "Gann Initiative" or "Gann Limit." The Proposition created Article XIIIB of the State Constitution placing limits on the amount of revenue which can be spent by all entities of government from the "proceeds of taxes." Proposition 4 became effective for the 1980-81 fiscal year, but the formula for calculating the limit was based on the 1978-79 "base year" revenues, with adjustments being made annually to reflect increases in population and cost of living.
Section 9710 of the California Government Code, added in 1980 by the State Legislature, provides that "each year, the governing body of each local jurisdiction shall, by resolution, establish its appropriations limit for the following year." In June of 1990 the California Voters approved Proposition 111. Among other things, Proposition 111 provided new adjustment formulas, which make the Appropriations Limit more responsive to local growth issues. Only tax proceeds are subject to the limit. Charges for services, regulatory fees, grants, loans, donations and other non - tax proceeds are not subject to the limit. Proposition 111 also established a requirement for an annual review of Limit calculations. Each year the City Council must adopt by resolution the City's appropriations limit for the following year. The following is the calculation for the City's Gann Appropriations Limit for FY2026-27.
The City of Placentia's annual appropriation limit has been determined in accordance with Article XIIIB of the California State Constitution and Section 7902 of the California Government Code. The City will be below its legal appropriations limit by $77,347,205 using the per capita personal income growth and county population growth factors.
GANN APPROPRIATIONS LIMIT CALCULATION FY 2026-27
FY 2025-26 Appropriations Limit
$128,022,711
Population Growth (City or County) = -0.02%
0.9800
Cost of Living (Per Capita or Non-residential construction growth) = 4.95%
1.0495
FY 2025-26 Appropriations Limit
($128,022,711 x 0.9800 x 1.0495)
$131,672,638
610
GANN APPROPRIATIONS LIMIT
Appropriations Table
140,000,000
120,000,000
100,000,000
80,000,000
60,000,000
40,000,000
20,000,000
0 N. N. N. tiro t ti% ti� "V 'V "V L'' "V "V ti� tit
N. ti N. ti� ti1 ti� ti ti� "V titi tiV "V 'V ti�
LO "V 'LO 'V LO 1O "V 1O 1O 'V 1O "V LO 1O "V
• Legal Limit • Appropriations • Amount Under
611
RESOLUTION NO. PPFA-2026-01
A RESOLUTION OF THE PLACENTIA PUBLIC FINANCING
AUTHORITY (PPFA) BOARD OF DIRECTORS OF THE CITY
OF PLACENTIA, CALIFORNIA, TAKING ACTIONS
NECESSARY TO ADOPT THE PPFA's FISCAL YEAR 2026-
27 ANNUAL BUDGET
WHEREAS, the Placentia Public Financing Authority governing board shall be the members of the City Council of the City; and
WHEREAS, the Placentia Public Financing Authority has prepared the Placentia Public Financing Authority budget in the amount of $4,852,019 Revenues and $4,852,019 of appropriations for Fiscal Year 2026-27.
NOW, THEREFORE, BE IT RESOLVED by the Governing Board of the Placentia Public Financing Authority, as follows:
Section 1. The proposed budget of the Placentia Public Financing Authority, as amended and modified for Fiscal Year beginning July 1, 2026, through June 30, 2027, is hereby adopted.
Section 2. Effective Date. This resolution shall take effect upon adoption.
APPROVED and ADOPTED this 30th day of June 2026
Chad P. Wanke, Chair
ATTEST:
Robert S. McKinnell, Secretary
Resolution No. PPFA-2026-01
612
STATE OF CALIFORNIA
COUNTY OF ORANGE
I, Robert S. McKinnell, Secretary of the Placentia Public Financing Authority of The City of Placentia, California, do hereby certify that the foregoing Resolution, was duly passed, approved, and adopted by the Placentia Public Financing Authority, approved and signed by the Chair and attested by the Secretary, all at the regular meeting of the said Placentia Public Financing Authority held on the 30th day of June 2026, and the same was passed and adopted by the following vote:
AYES: BOARDMEMBERS:
NOES: BOARDMEMBERS
ABSENT: BOARDMEMBERS
ABSTAIN: BOARDMEMBERS
Robert S. McKinnell, Secretary
APPROVED AS TO FORM:
Christian L. Bettenhausen, Agency Attorney
Resolution No. PPFA-2026-01
613
Proposed Annual Operating Budget &
CIP
Fiscal Year 2026-27
Summary of FY2026-27 Proposed Budget
• May 19, 2026
• Presented a balanced budget using $1,458,351 of one-time revenue • Section 115 Trust $682,454
• One time transfer from County Annexation $775,896
• Staff given direction to present a balanced budget without use of one- time revenues
• June 16, 2026
• Mayor presented proposed budget amendments to staff for consideration and directed to return with a balanced budget carried 5-0 vote
615
What is a Balanced Budget?
• A balanced budget is when the money coming in is enough to pay for everyday expenses going out.
EXPENSES
616
FY2026-27 Operating Budget
I
Operating Revenues
Operating
Expenditures
General Fund De
Service
at
Difference
Presented
/19/26
53, 856, 884
Proposed
6/30/26
53, 856, 884
49,538,253 48,079,902
5,776,982
(1,458,351)
5,776,982
617
Proposed Budget Cuts & Balancing
Amoun
Layoff of Communications and Marketing Manager
Layoff of Deputy Director of Administrative Services
5% allocation of Deputy City Administrator to Sewer Fund Unfunding of Vacant Dispatch Supervisor Position
Unfunding of Vacant Planning Tech Position
Cost savings from Attrition and outsourcing business licenses 10% allocation of Public Works Manager to Sewer Fund
Reduction of PW part time budget. Not filling vacant Maintenance Aide Additional savings for ALS Service costs (Total savings of $560k) (154,451)
(249,550)
(11,850)
(156,832)
(78,720)
(25,000)
(17,000)
(51,667)
(180,000)
5% allocation of IT staff time to Sewer fund (32,600)
618
Jill
Budget Cuts & Balancing (Continued)
Reduction Amoun �
Savings from consolidating software
Cancel K9 software
Closing and Draining of Gomez Pool
Reducing Scope of Landscaping
Proposed reduction in Citywide Meetings and Travel
Cost savings from Telephone Contract being renegotiated Estimated salary savings from vacancies and Overtime management City Insurance Pool Savings
Savings from reducing number of modules used by PlanetBids Total Reductions
(30,000)
(900)
(10,000)
(83,818)
(22,300)
(50,000)
(53,663)
(235,000)
(15,000)
(1,458,351)
619
FY 2026/27 Proposed General Fund -
Fund Balance
Estimated Beginning Fund lir
Balance 7/1/2026
$9,150,409
Projected Change in Fund Balance
Projected Ending Fund Balance at
6/30/27
Fund Balance Designations
Non -Spendable
General Fund Reserve
Measure U Reserve Contribution
Unassigned Fund Balance
2,633,0987
11.783.506
929,235
3 536 098
8,483,878
1 165 704
Estimated Ending Fund Balance
6/30/27 $11 783 506
Protected Operating Expenditures
25% FB Target
Reserve total (FB less Non -
Spendable)
48,079,902
12,019,975
10,854,271
22.58%
General Fund
Reserve Total
620
Proposed FY 2026/27 Budget All Funds
Total Proposed Revenues- $97,093,308
Total Proposed Expenditures- $96,059,483
Operati
ng
890
Special
Revenue
21%
Internal
Service
6%
Fiduciary I
6°/0
DIF
0%
General
Fund
56%
FY 2026/27 Proposed Budget Overview (All Funds)
56,620,481 ar 53,987,384 Mr 2,663,097
General Fund
S • ecial Revenue
Enter • rise
Internal Service
Fiducia
DIF
Totals
19,250,576
8,562,679
5,937,000
5,253,068
1,469,504
0 97,093,308
20,377,146 (1,126,570)
8,748,322 (185,643)
6,015,500 (78,500)
5,253,068
1,469,504
208,560
0 0
(208,560)
96,059,484 1,033,825
Proposed Staffing Changes
Layoffs in the Proposed Budget
1. One (1) Communications and Marketing Manager
2. One (1) Deputy Director of Administrative Services
Vacant Not Funded in the Proposed Budget
1. One (1) Public Safety Communications Supervisor
2. One (1) Planning Tech
623
Proposed Staffing Changes
Reclassifications
1. Reclassification of one Facilities Maintenance Technician to Facilities Maintenance Technician 11($10,000 annual costs).
Proposed Full Time Employee
1. One Information Technology Specialist ($0 increase in annual salaries offset by equal decrease in contract costs).
624
Capital Improvement Program
(CIP)
CIP by Project Types
Project Type
Streets & Streetscapes
Traffic and
Transportation
Sewer
Storm Drain
City Buildings &
Facilities
Technology
Parks
Vehicles & Equipment
Total
New
Project
Count
Amount
4 $4,865,679
1 $191,950
2 $1,840,000
1 $250,000
4 $2,235,000
3 $200,000
2 $400,000
2 $165,000
19 $10,147,629
626
CIP Projects by Funding
Source
Total New CIP
Funding:
$10,147,629
Sewer,
$1,840,000
Misc. Other
Sources,
$1,346,077
Meaure M,
$1,198,336
Dev Impact Fees,
$168,560
Measure U,
$4,080,001
627
AB 2561 Compliance — Vacancy Report
Pursuant to Government Code Section 3502.3, public agencies must:
1. Track job vacancies
2. Present information on status of vacancies and recruitment and retention efforts.
3. Threshold for additional reporting obligations apply if the vacancy anybargaining
rate in unit exceeds 20%.
• As of May 19, 2026, the Citywide vacancy rate is 4%. No bargaining unit unrepresented unit, nor department has a vacancy rate above 100/o. pp
• The City has implemented and continues to evaluate strategic recruitment and retention initiatives to attract and retain a high- qualityworkforce while ensuring long-term fiscal sustainabil . g Y
628
Recommendations
1. Open the Public Hearing concerning the City of Placentia Budget for Fiscal Year 2026-27 and Capital Improvement Program (CIP) for Fiscal Year 2026-27, consider all public testimony, ask questions of Staff, and close the public hearing; and
2. Conduct the Public Hearing to comply with Assembly Bill 2561 (AB2561) presenting the status of Vacant Positions and
Recruitment and Retention Efforts.
3. Adopt Resolution No. R-2026-39, a Resolution of the City Council of the City of Placentia, California, taking actions necessary to adopt the Fiscal Year 2026-27 Annual Budget; and taking actions necessary to adopt the Fiscal Year 2026-27 Capital Improvement Program (CIP); and authorizing the Position Allocation Plan and Compensation Plan for Fiscal Year 2026-27; and
4. Authorize the City Administrator to release appropriation controls for the General Government Department and Risk Management fund outside of the normal quarterly process, as necessary; and 40
5. Approve the use of the County's population growth and California per capita income growth as determined by the State Department of Finance for the calculation of the Fiscal Year 2026-27 Annual Annronriatinn Limit and
629
Recommendations
6. Adopt Resolution R-2026-40, a Resolution of the City Council of the City of Placentia, California, approving and adopting the Annual Appropriations Limit (GANN) for the Fiscal Year 2026-27 in the amount of $131,672,638.
It is recommended that the Placentia Public Financing Authority take the following actions:
1. Conduct the Public Hearing concerning the Placentia Public Financing Authority Budget for Fiscal Year 2026-27; and
2. Adopt Resolution No. PPFA-2026-01, a Resolution of the Placentia Public Financing Authority (PPFA) Board of Directors of the City of Placentia, California, taking actions necessary to adopt the PPFA's Fiscal Year 2026-27 Annual Budget. 630
Questions & Comments
Agenda Item No: 3.a
PLACENTIA CITY COUNCIL AGENDA REPORT
Meeting Date: June 30, 2026
Submitted by: Gavin Houn
From: Finance
Subject:
ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE PERIOD ENDING JUNE 30, 2025
Financial Impact:
None.
Summary:
The annual audit of the City's financial records has been completed by the City's audit firm, Clifton Allen Larson (CLA). Part of the audit contract includes working with Staff to complete the Annual Comprehensive Financial Report ("ACFR"). The ACFR will be reviewed with the Financial Audit Oversight Committee ("FAOC") on June 29, 2026 and if the FAOC approves the report, it will be recommended for the City Council to receive and file without any material modifications.
Recommended Action:
It is recommended that the City Council:
1. Receive and file the Annual Comprehensive Financial Report for the period ending June 30, 2025, as recommended by the Financial Audit Oversight Committee; and
2. Receive and file the Single Audit of Federally Assisted Grant Programs for the period ending June 30, 2025, as recommended by the Financial Audit Oversight Committee.
Strategic Plan Statement:
This action is not related to any Strategic Plan goal or objective.
Discussion:
Each year the City has an external audit performed by an independent auditing firm. At the conclusion of the audit process, the auditors and the City's Finance Department complete the Annual Comprehensive Financial Report (ACFR). As required by the Government Accounting Standards Board (GASB), the report's format includes standardized reporting information such as the Management Discussion and Analysis (MD&A), Required Supplementary Information, and Government -wide Financial Statements including the Statement of Net Position and Statement of Activities.
Also included in the report is the Independent Auditors' Report. In the opinion of the auditors (CLA), the financial statements are presented fairly in all material respects. The audit of the 632
City's financial records was completed in accordance with generally accepted auditing standards applicable to financial audits contained in Government Audit Standards issued by the Government Accountability Office. The City received a "clean" or unmodified opinion for the audit this year with one material weakness noted. The weakness identified were misstatements that if not corrected, would cause the City's financial statements to be materially misstated. The misstatements included moving some capital projects from "construction in progress" into a non -depreciating "capital assets" category instead of depreciating asset category and inadvertently including the employee share of CaIPERS for pension related deferred inflow of resources when it should have just been the employer paid portion. All misstatements were corrected, and Finance has updated its year-end checklist to ensure these misstatements will not be repeated.
The ACFR will be presented to the Financial Audit Oversight Committee at its meeting on June 29, 2026. Upon the Committee's approval, the report will be recommended to the City Council to receive and file..
Financial Summary:
There is no fiscal impact to the recommended action.
Attachments
ACFR - FY 25 City of Placentia Final.pdf
City of Placentia Results Presentation FY 2025 - FINAL.pptx 633
City of Placentia
Annual
Comprehensive
Financial Report
Fiscal Year
2024-25
- - --_..-ENTIA IIIMIS
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CITY OF PLACENTIA
PLACENTIA, CALIFORNIA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
YEAR ENDED JUNE 30, 2025
PREPARED BY THE FINANCE DEPARTMENT
OF THE CITY OF PLACENTIA
636
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637
CITY OF PLACENTIA
TABLE OF CONTENTS
YEAR ENDED JUNE 30, 2025
INTRODUCTORY SECTION
LETTER OF TRANSMITTAL
CITYWIDE ORGANIZATION CHART
PRINCIPAL OFFICIALS
FINANCIAL SECTION
INDEPENDENT AUDITORS' REPORT
MANAGEMENT'S DISCUSSION AND ANALYSIS (UNAUDITED)
GOVERNMENT -WIDE FINANCIAL STATEMENTS
STATEMENT OF NET POSITION
STATEMENT OF ACTIVITIES
FUND FINANCIAL STATEMENTS
GOVERNMENTAL FUND FINANCIAL STATEMENTS
BALANCE SHEET
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET
TO THE GOVERNMENT -WIDE STATEMENT OF NET POSITION
1 5
21 23
25 26
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES 27
RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF
REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE TO
THE GOVERNMENT -WIDE STATEMENT OF ACTIVITIES
28 PROPRIETARY FUNDS FINANCIAL STATEMENTS
STATEMENT OF NET POSITION 29
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET
POSITION 30
STATEMENT OF CASH FLOWS 31
FIDUCIARY FUNDS FINANCIAL STATEMENTS
638
CITY OF PLACENTIA
TABLE OF CONTENTS
YEAR ENDED JUNE 30, 2025
STATEMENT OF FIDUCIARY NET POSITION
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
NOTES TO BASIC FINANCIAL STATEMENTS
REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)
BUDGETARY COMPARISON SCHEDULE - GENERAL FUND
33 34
35 91
BUDGETARY COMPARISON SCHEDULE - CITYWIDE DEVELOPMENT
IMPACT FEE SPECIAL REVENUE FUND 92
BUDGETARY COMPARISON SCHEDULE - PLACENTIA REGIONAL
NAVIGATION CENTER SPECIAL REVENUE FUND
NOTES TO BUDGETARY COMPARISON SCHEDULES
SCHEDULES OF THE CITY'S PROPORTIONATE SHARE OF THE NET
PENSION LIABILITIES AND RELATED RATIOS
SCHEDULES OF CITY'S PENSION CONTRIBUTIONS
SCHEDULE OF CHANGES IN NET OPEB LIABILITY AND
RELATED RATIOS
SCHEDULE OF CITY'S OPEB CONTRIBUTIONS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND
BALANCE - BUDGET AND ACTUAL - DEBT SERVICE FUND
(MAJOR FUND)
SUPPLEMENTARY INFORMATION
NONMAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES
SCHEDULES OF REVENUE, EXPENDITURES, AND CHANGES IN FUND
BALANCE - BUDGET AND ACTUAL
MISCELLANEOUS GRANTS SPECIAL REVENUE FUND
93 94
95 97
99 100
101
106
111
116
STREET LIGHTING SPECIAL REVENUE FUND 117
639
CITY OF PLACENTIA
TABLE OF CONTENTS
YEAR ENDED JUNE 30, 2025
MEASURE M SPECIAL REVENUE FUND 118
THOROUGHFARE CONSTRUCTION SPECIAL REVENUE FUND 119
ASSET SEIZURE SPECIAL REVENUE FUND 120
SUPPLEMENTAL LAW ENFORCEMENT SPECIAL REVENUE FUND 121
AIR QUALITY SPECIAL REVENUE FUND 122
LANDSCAPE MAINTENANCE DISTRICT 92-1 SPECIAL REVENUE FUND 123 HOUSING AND COMMUNITY DEVELOPMENT SPECIAL REVENUE FUND 124 GASOLINE TAX SPECIAL REVENUE FUND 125
PEG REVENUE FUND 126
SB1 RMRA GAS TAX SPECIAL REVENUE FUND 127
NORTH ORANGE COUNTY (NOC) PUBLIC SAFETY GRANT SPECIAL
REVENUE FUND 128
TOD IMPACT FEE SPECIAL REVENUE FUND 129
GENERAL PLAN UPDATE FEE SPECIAL REVENUE FUND 130
TECHNOLOGY IMPACT FEE SPECIAL REVENUE FUND 131
CAL RECYCLE GRANT SPECIAL REVENUE FUND 132
EFID SPECIAL REVENUE FUND 133
FIRE IMPACT FEE FUND 134
ANIMAL SHELTER IMPACT FEE FUND 135
OPIOID SETTLEMENT FUND 136
CITY CAPITAL PROJECTS FUND 137
GAS TAX DEBT SERVICE FUND 138
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF NET POSITION 139
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION 140
640
CITY OF PLACENTIA
TABLE OF CONTENTS
YEAR ENDED JUNE 30, 2025
COMBINING STATEMENT OF CASH FLOWS
FIDUCIARY FUNDS - CUSTODIAL FUNDS
COMBINING STATEMENT OF ASSETS AND LIABILITIES
STATEMENT OF CHANGE IN FIDUCIARY NET POSITION
STATISTICAL SECTION
NET POSITION BY COMPONENT
CHANGES IN NET POSITION
FUND BALANCES OF GOVERNMENTAL FUNDS
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
REVENUES BY SOURCE - GENERAL FUND
ASSESSED VALUE OF TAXABLE PROPERTY
DIRECT AND OVERLAPPING PROPERTY TAX RATES
PRINCIPAL PROPERTY TAX PAYERS
PROPERTY TAX LEVIES AND COLLECTIONS
RATIO OF OUTSTANDING DEBT BY TYPE
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITY DEBT
LEGAL DEBT MARGIN INFORMATION
DEMOGRAPHIC AND ECONOMIC STATISTICS
TAXABLE SALES BY CATEGORY
BUDGETED FULL-TIME EMPLOYEES BY DEPARTMENT
OPERATING INDICATORS BY FUNCTION
CAPITAL ASSETS STATISTICS BY FUNCTION/PROGRAM
141
143
144
147
148
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
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The People are the City
Mayor
CHAD P. WANKE
Mayor Pro Tem
JEREMY B. YAMAGUCHI
Councilmembers:
THOMAS HUMMER
KEVIN KIRWIN
WARD L. SMITH
401 East Chapman Avenue — Placentia, California 92870
June 12, 2026
City Clerk:
ROBERT S. MCKINNELL
City Treasurer
KEVIN A. LARSON
City Administrator
JENNIFER LAMPMAN
To the Honorable Mayor, Members of the City Council, and Citizens of Placentia:
It is our pleasure to present the Annual Comprehensive Financial Report (ACFR) of the City of Placentia for the fiscal year ended June 30, 2025. Responsibility for the accuracy of the data presented and the completeness and fairness of the presentation, including all disclosures, rests with the City. It is our opinion that the data is accurate in all material aspects, is presented in a manner designed to fairly set forth the financial position and results of the operations of the City and contains all disclosures necessary to enable the reader to gain an understanding of the City's financial affairs.
The financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) as promulgated by the Government Accounting Standards Board (GASB). This report consists of management's representations concerning the finances of the City of Placentia, California. Consequently, management assumes full responsibility for the completeness and reliability of all the information presented in this report. To provide a reasonable basis for making these representations, management of the City has established a comprehensive internal control framework that is designed both to protect the City's assets from loss, theft, or misuse and to compile sufficient and reliable information for the preparation of the City's financial statements in conformity with GAAP. Because the cost of internal controls should not outweigh their benefits, the City's comprehensive framework of internal controls have been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatement. As management, we assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material respects.
The City's financial statements have been audited by the Clifton Larson Allen, LLP., a public accounting firm fully licensed and qualified to perform audits of local governments within the State of California. The goal of the independent audit was to provide reasonable assurance that the financial statements of the City of Placentia, California for the fiscal year ended June 30, 2025, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. The independent auditors concluded, based upon the audit, that there was a reasonable basis for rendering an unmodified opinion that the City of Placentia, California's financial statements for the fiscal year ended June 30, 2025, are fairly presented in conformity with GAAP. The independent auditor's report is presented as the first component of the financial section of this report.
GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management's Discussion and Analysis 642
(MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The City of Placentia's MD&A can be found immediately following the report of the independent auditors in the financial section of the ACFR.
CITY PROFILE
The City of Placentia is located in north Orange County, in the heart of Southern California, with Los Angeles County to the north and San Diego County to the south. Orange County is the third largest county in California, trailing only Los Angeles and San Diego counties, and represents 8% of the state's population. There are currently 34 cities within the County. The City consists of approximately 6.7 square miles of land area and serves a population of 52,000.
The City was founded in 1910 and incorporated in 1926. It was home to major citrus growing companies. Under the City Charter adopted in 1965, the City government is organized in the Council -Administrator form. The City Council includes five (5) members, each of whom is elected at -large to overlapping four-year terms. In 2018, the City was divided into five districts with two of the districts electing a Councilmember in November of that year and the three remaining districts electing their Councilmembers in 2020. The City Council annually selects a Mayor and Mayor Pro Tem for a one-year term. The City Council serves as the legislative and policy -making body of the City government. The City Council appoints a City Administrator and a City Attorney.
The City Administrator is the City's chief executive officer and appoints all other City staff. The City Administrator is responsible for the daily administration of the City government and provides overall direction to all City departments. The City Clerk and City Treasurer are separately elected by the voters.
The City provides a full range of municipal services including police, fire and life safety, maintenance of streets and parks, community development (e.g., building, planning, code compliance), recreational and cultural activities, economic development, and administrative services (e.g., personnel, finance, information services). Refuse collection is franchised to a private waste company, Republic Services.
FINANCIAL POLICIES
Budget: The annual budget serves as the foundation for the City's financial planning and control.
The Finance Department, with City Administrator direction, develops revenue estimates and budget guidelines for each department every year in January. The departments then submit expenditure appropriation requests which are summarized by the Finance Department and presented to the City Administrator for review. The City Administrator then meets with each department and prepares a proposed budget document for presentation to the City Council.
The City's Charter requires that the City Administrator submit a proposed budget to the City Council at least 35 days prior to the start of each fiscal year. After the budget has been presented, it must be adopted by the City Council following a noticed public hearing. ii
643
The annual budget includes all the City's governmental and proprietary funds. The legal level of budgetary control is the fund level. The City Administrator has the discretion to transfer appropriations between departments within a fund but transfers between funds and additional appropriations and transfers must be approved by City Council.
General Fund Reserve Policy: The City's General Fund Reserve Policy provides guidance in the creation, maintenance, and use of reserves. The policy covers the allocation of new and one- time revenues to different committed reserves such as infrastructure, vehicles, and equipment reserve; post -employment benefits sustainability reserve; employee recruitment and retention reserve; and the General Fund contingency reserve. To ensure the availability of adequate reserves for potential contingencies or emergencies, the City Council established the City's General Fund Reserve Policy with a required general fund contingency reserve of 25% of annual General Fund operating expenditures. While the fund balance of the General Fund was approximately $14.3 million on June 30, 2025, the unassigned fund balance was approximately $9.1 million, a $5.7 million decrease from June 30, 2024. A relatively large portion of the current unrestricted fund balance is committed for the City's capital projects which include street projects and for the continued construction of the public safety building.
Fees: In FY 2017-18, the Council adopted Citywide Development Impact and Residential Affordable Housing Impact Fees and updated its Comprehensive Fee Schedule following a comprehensive cost of services/user fee study in FY 2021-22. The fee schedule was proposed to be updated annually based upon consumer price index with another fee study to be conducted in the fifth year. Both the Citywide Development Impact Fees and the Comprehensive Fee Schedule were updated in FY 2024-25.
FACTORS AFFECTING THE CITY'S ECONOMIC CONDITION
Local Economy: Placentia's economic outlook is promising. Taxes represent seventy-four percent (74%) of the City's total General Fund operating revenue and primarily include property taxes, sales and use taxes (including Measure U), utility users' tax, franchise fees, and other taxes. Tax revenues, exclusive of sales tax, for FY 2024-25 generally slightly exceeded budget and are expected to meet budgeted amounts for FY 2025-26.
LONG-TERM FINANCIAL PLANNING
Pension Unfunded Accrued Liability: On November 12, 2020, the City of Placentia issued lease revenue bonds through the Placentia Public Financing Authority taking advantage of the historic low interest rate environment. This bond issuance funded 100% of the City's CaIPERS unfunded actuarial liability (UAL) for the miscellaneous and safety plans. Upon issuance of the bonds, the City paid approximately $43.8 million to CaIPERS for deposit to the CaIPERS payment fund.
This transaction will provide $14.3 million in savings over the term of the bonds and over $600,000 annually during the first 15 years. Due to CaIPERS rates of returns in prior years being lower than their assumed discount rate of 6.8%, the City faced an unfunded actuarial liability (UAL) in FY 2024-25 of approximately $447,000 in addition to the debt service relating to the lease revenue bonds.
ii i
644
Post Employment Benefits: The City's General Fund Reserve Policy includes provisions to set aside 10% of ongoing new revenue and 10% of one-time new revenue for unfunded liabilities. In addition, when the General Fund reaches its minimum fund balance of 25%, an additional 10% of one-time new revenue will be allocated toward funding this liability for a total of 20% annually.
DEVELOPMENT INITIATIVES
Enhanced Infrastructure Financing District: In response to the elimination of redevelopment agencies the California Senate Bill 628, effective January 1, 2015, and California Assembly Bill 313, effective January 1, 2016, authorized the formation of an Enhanced Infrastructure Financing District ("EIFD"), which is intended to succeed the former Redevelopment financing mechanism and provide more flexibility than Infrastructure Financing Districts ("IFDs"). An EIFD is a governmental entity, separate and distinct from the city or county that establishes it and is governed by a Public Financing Authority ("PFA"). EIFDs can aid local government entities in funding public capital facilities, or other specified projects of communitywide significance, primarily by capturing tax increment revenue ("TI") generated within the district. EIFDs provide an opportunity for agencies to issue bonds for an array of public infrastructure projects as well as supporting economic development efforts in specific areas.
At the April 23, 2019, Orange County Board of Supervisors meeting, the Board Members approved a partnership to participate in an EIFD with the City of Placentia. This is one of four EIFDs established in California, and the first EIFD in the State of California to involve a partnership between a city and county for improved infrastructure.
The City of Placentia and the Southern California Association of Governments (SCAG) worked on a comprehensive plan for the establishment of an EIFD in Placentia. Under this plan, the County would contribute 46% of its share of property tax increment within the boundary of the District, which would amount to approximately $3.5 million over 20 years, or $175,000 annually. The City's contribution would be 50% of its property taxes generated in the District, or about $8.2 million over two decades. The total partnership between the County and the City would amount to $11.7 million to make the necessary infrastructure improvements to the Old Town Placentia area. This includes public infrastructure improvements near the proposed Metrolink Station, Placentia Old Town area, and the Transit -Oriented Development District near the 57 and 91 freeways. With this unique City -County partnership, the City will be able to produce over 1,600 new units of housing, create 3,900 construction jobs, and over 1,100 permanent jobs at full build - out.
Transit -Oriented Development: The City has been given a unique opportunity with the future development of a new state-of-the-art Metrolink train station and 246 -space parking structure within the Old Town Placentia area. The proposed station will help transform the Packing House District (near Melrose Street and Crowther Avenue) into an active, vibrant destination. Transit - Oriented Development (TOD) is a type of community development that includes a mixture of housing, office, retail, and/or other amenities integrated into a walkable neighborhood and located within a half -mile of a public transportation stop. It will also support existing retail and restaurant businesses while growing the City's local economy. iv
645
Based on an economic development analysis conducted by Kosmont Associates, the public and private investments in the future TOD and Old Town Revitalization Plan (OTP) areas are expected at build -out to generate up to $540 million in local economic output and $800 million in Countywide economic output. Upon completion, the TOD and OTP areas are estimated to generate approximately $92 million annually in local economic output. Additionally, the proposed District areas would assist with reconstructing streets and street improvements, utilizing non -General Fund resources. In total, construction of the TOD and Old Town District is estimated to generate approximately 3,900 construction jobs and 1,100 permanent jobs.
Placentia's Old Town is a 33 -acre area located in the southern and western portions of the City, north of a section of the Burlington Northern Santa Fe (BNSF) railroad. To take advantage of the upcoming Metrolink station and parking structure developments scheduled to begin construction at a future, unknown date, the Old Town Placentia Revitalization Plan was adopted by the City Council in July 2017. The plan's primary goal is to create a vibrant, safe, and pedestrian friendly area that respects the community's historical and cultural diversity, while also creating new opportunities for development and investment into the area. This comprehensive plan incorporates well- designed private and public physical improvements and amenities.
Based on the Plan's expectation of 853,000 square feet of new improvements at build -out, the Old Town Revitalization Plan is expected to generate $217 million of private development activity, development impact fees of $8.3 million and additional annual tax revenues for the City of $900,000. In addition, 1,057 construction jobs and 823 of new on -site permanent jobs are anticipated as a result of the Plan.
As mentioned previously, to expedite these improvements in Old Town Placentia, the City partnered with the County of Orange to establish an EIFD near the City's future Metrolink Station, including the Old Town Placentia area and TOD Packing House District. The purpose of this district is to create a funding mechanism that can facilitate the construction of public infrastructure improvements in this area. A portion of the property tax increment (the amount above the property taxes collected in base year 2019) that the City and the County of Orange receive would be specifically restricted to pay for the infrastructure projects listed in the Infrastructure Financing Plan (IFP) at an estimated cost of $8.2 million. These infrastructure improvements include street improvements, pedestrian connectivity, and landscaping and lighting upgrades.
The EIFD does not result in new taxes or fees to the property owners in the EIFD boundaries or the City's residents.
Commercial/Residential Development:
Toll Brothers, Inc. are constructing a development of 100 single-family detached homes. This development will be located northeast of Alta Vista Street and Rose Drive. As of June 30, 2025 all phases are under construction. Home sales are underway for the remaining units including the model homes.
Orangethorpe Investment Partners, LLC are constructing a 75 -unit townhome development including five, live work units on a 2.72 acre lot. This development will be located at 777 W. v
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Orangethorpe Avenue. As of June 2026 this development has been approved by city council and is anticipated to submit for building plan check shortly.
Yagnesh Patel of CY Hospitality is constructing a 63 -foot -tall hotel totaling 42,631 square feet with 86 guest rooms. It will also include a 24,210 square foot subterranean garage, rooftop deck and on site alcohol sales. This development will be located at 450 S Placentia Avenue. As of June 2026 this development has been approved by council and is currently in the building plan check phase.
Toffoli Investments/Risewell Homes are constructing a 139 -unit residential townhome development called "Hudson." Hudson is located at 455 S. Van Buren Street and will consist of 22 separate three-story buildings. Six floor plans are proposed consisting of 25 one -bedroom units, 52 two -bedroom units, and 62 three -bedroom units. The unit types will measure between 762 square feet and 1,349 square feet in overall floor area and feature an attached one or two - car garage per unit. Hudson amenities will include a tot lot, barbeques, fire pits, bike racks, a dog run, and more. As of June 30, 2025 construction of most of the buildings are complete. Home sales are underway for the remaining units including the model homes.
Toffoli Investments/Risewell Homes are constructing a 39 -unit three-story residential condominiums development called "Hudson East." Hudson East will be located at East Veterans Way near Lakeview Avenue on a 1.3 -acre lot. As of June 30, 2025 construction of final phases are under construction.
Toffoli Investments/Risewell Homes are constructing a development of 140 -unit three-story condominium residential townhomes called "Sumner Village." This development will be located at 440 North Jefferson Street on a 4.97 -acre property. As of June 2026 construction of model homes, phases 1 and 2 (out of 12) are under construction.
Chick-fil-A restaurant, located at the southeast corner 1200 E. Alta Vista Street was under construction as of June 30, 2025 and opened for business October 2025. The newly constructed 5,525 -square -foot Chick-fil-A features a modern design with a drive-thru and outdoor seating area, offering guests a welcoming and convenient dining experience. Distinctive drive-thru canopy structures and high -quality exterior finishes complete the restaurant's polished look. This represents the final phase of the development originally approved in 2018 on the southeast corner of Alta Vista Street and Rose Drive, which combines both commercial and residential uses while preserving many of the site's originally approved landscape and hardscape features.
Dutch Bros Coffee is constructing a 1,025 -square foot commercial building, with dual drive-thru lanes, including hardscape and landscape improvements in a 28,446 -square foot former parking lot at the Placentia Town Center, located at 150 E. Yorba Linda Boulevard. As of June 2026 this development has been approved by Planning Commission and is currently in the building plan check phase.
vi
647
Buy Local Incentive Programs
Residential Vehicle Rebate Program: Placentia residents purchasing or leasing a new vehicle from Fairway Ford or Audi North OC are eligible to receive a $500 rebate with proof of residency as part of the Buy Local Incentive Program. The Resident Vehicle Rebate Program expired on April 30, 2025.
Acknowledgments
The preparation of this report could not have been accomplished without the efficient and dedicated service of the entire Finance Department. Special recognition is also given to the audit firm of the Clifton Larson Allen, LLP. We also wish to recognize the commitment of the City Council to the high standards embodied in this report and express appreciation to them and each City department for their cooperation and support in conducting the fiscal operations of the City.
Respectfully submitted,
Jerry Griggs
Director of Finance
Jennifer Lampman
City Administrator
vii
648
Citywide Organizational Chart
Legislative and
Economic
Development
CITY OF PLACENTIA
PRINCIPAL OFFICIALS
AS OF JUNE 12, 2026
CITY COUNCIL
Chad P. Wanke
Jeremy B. Yamaguchi
Ward L. Smith
Thomas Hummer
Kevin Kirwin
Robert S. McKinnell
Kevin A. Larson
Jennifer Lampman
Christian L. Bettenhausen
Jerry Griggs
Rosanna Ramirez
Lydie Gutfeld
Joseph M. Lambert
Alice Burnett
Chris Tanio
Brad Butts
Jason Dobine
Mayor
Mayor Pro Tempore
Councilmember
Councilmember
Councilmember
CITY OFFICIALS
City Clerk
City Treasurer
City Administrator
City Attorney
Director of Finance
Director of Administrative Services
Director of Community Services
Director of Development Services
Director of Human Resources
Director of Public Works
Police Chief
Fire Chief
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x
651
FINANCIAL SECTION
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652
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xii
653
8 INDEPENDENT AUDITORS' REPORT
Honorable Mayor and Members of the City Council
City of Placentia
Placentia, California
CliftonLarsonAllen LLP
CLAconnect.com
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business - type activities, each major fund, and the aggregate remaining fund information of the City of Placentia (the City), as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise the City's basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of the City as of June 30, 2025, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. ` CLAglobal.com/disclaimer (1)
654
Honorable Mayor and Members of the City Council
City of Placentia
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
Auditors' Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of City's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about 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)
655
Honorable Mayor and Members of the City Council
City of Placentia
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis, the Budgetary Comparison Schedules - General and Major Special Revenue Funds, the schedules of the City's proportionate share of the net pension liabilities and related ratios and the schedules of plan contributions for the City's pension plans, the schedule of changes in the net other post -employment benefit (OPEB) liability and related ratios, and the schedule of OPEB plan contributions, identified as Required Supplementary Information (RSI) in the accompanying table of contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the RSI in accordance with GAAS, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the RSI 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 opinions on the financial statements that collectively comprise the City's basic financial statements. The individual fund schedules and combining financial statements are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the individual fund schedules and combining financial statements are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditors' report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. (3)
656
Honorable Mayor and Members of the City Council
City of Placentia
Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated June 12, 2026, on our consideration of the City's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City's internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering City's internal control over financial reporting and compliance.
CliftonLarsonAllen LLP
Irvine, California
June 12, 2026
(4)
657
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
The following Management's Discussion and Analysis (MD&A) of the financial activities of the City of Placentia ("City") provides an overview of the City's financial performance for the fiscal year ended June 30, 2025. Please read it in conjunction with the accompanying basic financial statements and notes to the financial statements.
FINANCIAL HIGHLIGHTS
• The City's total net position increased by approximately $100,000 during FY 2024-25, increasing from $88.6 million to $88.7 million.
• Governmental activities revenues totaled approximately $70.1 million, consisting primarily of taxes, intergovernmental revenues, charges for services, and investment earnings. Governmental activities expenses totaled approximately $71.2 million.
• The City's business -type activities, consisting of refuse and sewer maintenance operations, reported positive operating income of approximately $1.0 million during the fiscal year, compared to an operating loss of approximately $30,000 in the prior year.
• Total governmental fund balances decreased by approximately $4.5 million during fiscal year 2024-25, from $33.5 million to $29.0 million. The decrease was primarily attributable to continued capital improvement program expenditures, roadway rehabilitation projects, public safety facility planning and design activities, and the use of accumulated reserves to fund infrastructure and operational needs. • The General Fund reported a fund balance of approximately $14.3 million at June 30, 2025, compared to $18.4 million in the prior year. The decrease was primarily due to a decrease in transfers and a decrease in debt issuance as a financing source.
• The City continued significant investment in infrastructure, facilities, roadway rehabilitation, public safety improvements, park enhancements, and technology modernization projects during fiscal year 2024-25.
Governmental capital asset additions totaled approximately $12.9 million. • Total long-term governmental liabilities decreased from approximately $99.0 million to $95.0 million due primarily to scheduled debt service payments and reductions in financed purchase obligations, leases, and other debt obligations.
• The City's unrestricted net position for governmental activities remained negative at approximately $(66.6) million, primarily due to long-term pension and other post -employment benefit ("OPEB") liabilities, bonded indebtedness, and deferred inflows related to pension, OPEB, and lease accounting standards.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City's basic financial statements. The City's basic financial statements include:
• Government -wide financial statements
• Fund financial statements
• Notes to the basic financial statements
In addition to the basic financial statements, this report also contains required supplementary information and supplementary schedules.
Government -wide Financial Statements
The government -wide financial statements provide readers with a broad overview of the City's finances using the accrual basis of accounting, similar to private -sector businesses. (5)
658
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
The Statement of Net Position presents information on all of the City's assets, deferred outflows of resources, liabilities, and deferred inflows of resources, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the City's financial position is improving or deteriorating.
The Statement of Activities presents information showing how the City's net position changed during the fiscal year.
All changes in net position are reported when the underlying event occurs, regardless of when cash is received or paid.
The government -wide financial statements distinguish functions of the City principally supported by taxes and intergovernmental revenues (governmental activities) from functions intended to recover all or a significant portion of costs through user fees and charges (business -type activities).
Governmental activities include general government, public safety, public works, community development, and community services. Business -type activities include refuse and sewer maintenance operations.
Fund Financial Statements
A fund is a grouping of related accounts used to maintain control over resources segregated for specific activities or objectives. The City uses fund accounting to ensure and demonstrate compliance with finance -related legal requirements.
The City's funds are divided into three categories:
• Governmental funds
• Proprietary funds
• Fiduciary funds
Governmental Funds
Governmental funds are used to account for the governmental activities reported in government -wide financial statements. Most of the City's basic services are included in the governmental funds. The basis of accounting is different between the governmental fund statements and the government -wide financial statements.
The governmental funds focus on near -term revenues/financial resources and expenditures, while the government -wide financial statements include both near -term and long-term revenues/financial resources and expenses. The information in the governmental fund statements can be used to evaluate the City's near -term financing requirements and immediate fiscal health. Comparing the governmental fund statements with the government -wide financial statements can help the reader better understand the long-term impact of the City's financing decisions. To assist in this comparison, reconciliations between the governmental fund statements and the government -wide financial statements are included with the governmental fund balance sheet and the governmental fund statements of revenues, expenditures, and changes in fund balances.
Proprietary Funds
The City maintains two different types of proprietary funds: enterprise and internal service funds. Enterprise funds are used to report the same functions presented as business -type activities in the government -wide financial statements. The City uses enterprise funds to account for refuse and sewer services. (6)
659
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
Internal service funds are used to accumulate and allocate costs internally among the City's various functions.
The internal service funds primarily benefit the governmental activities and, therefore, the internal service fund information has been included with the governmental activities in the government -wide financial statements.
Proprietary funds provide the same type of information as the government -wide financial statements, only in more detail. The proprietary funds financial statements provide separate information for each of the two business -type activities individually, but combined information for the City's three internal service funds. In the Supplementary Information section of this report, information for each of the three internal service funds is provided.
Fiduciary Funds
Fiduciary funds account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, other governments, or other funds.
Fiduciary funds are not included in the government -wide financial statements because their assets are not available to support the City's activities.
Notes to the Financial Statements
The notes to the financial statements provide additional information that is important to obtain a full understanding of the data in the government -wide and fund financial statements. The notes are located immediately following the basic financial statements.
Other Information
In addition to the basic financial statement and accompanying notes, this report also presents certain required supplementary information. Required supplementary information may be found immediately following the notes to the financial statements. The combining statements for other governmental funds, the individual fund schedules, the internal service fund statements, and agency -type fiduciary fund schedules are presented immediately following the required supplementary information.
(7)
660
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
GOVERNMENT -WIDE FINANCIAL ANALYSIS
Statement of Net Position
Governmental Activities
Business -type Activities
Total
2025
2024
ASSETS
Cash and Investments
$ 32,210,256
$ 34,155,584
$ 4,584,263
$ 2,719,521
$ 36,794,519
$ 36,875,105
Other Assets
36,443,524
37,938,186
168,373
212,976
36,611,897
38,151,162
Ca pita I Assets
141,005,918
135,430,593
11,835,573
12,470,619
152,841,491
147,901,212
Total Assets
209,659,698
207,524,363
16,588,209
15,403,116
226,247,907
222,927,479
DEFERRED OUTFLOW OF RESOURCES
6,272,491
13,060,378
83,000
391,435
6,355,491
13,451,813
LIABILITIES
Current Liabilities
19,910,274
16,004,625
500,212
462,236
20,410,486
16,466,861
Long -Term Liabilities
87,064,388
92,362,502
406,183
580,755
87,470,571
92,943,257
Total Liabilities
106,974,662
108,367,127
906,395
1,042,991
107,881,057
109,410,118
DEFERRED INFLOW OF RESOURCES
35,765,734
38,017,644
290,985
385,908
36,056,719
38,403,552
NET POSITION
Net Investment in Capital Assets
118,813,090
114,776,612
11,835,573
12,470,619
130,648,663
127,247,231
Restricted
20,961,876
21,767,364
-
-
20,961,876
21,767,364
Unrestricted
(66,583,173)
(62,344,006)
3,638,256
1,895,033
(62,944,917)
(60,448,973)
TOTAL NET POSITION
$ 73,191,793
$ 74,199,970
$ 15,473,829 TS 14,365,652
88,665,622
88,565,622
As of June 30, 2025, the City's total net position increased slightly by $100,000 from the prior fiscal year, increasing from $88.6 million in FY 2023-24 to $88.7 million in FY 2024-25. Governmental activities reported a decrease in net position of approximately $1.0 million, while business -type activities reported an increase of approximately $1.1 million.
Governmental activities total assets and deferred outflows decreased from approximately $220.6 million in FY 2023- 24 to $215.9 million in FY 2024-25. The decrease was primarily attributable to lower cash and investments, reduced grant receivables, and decreases in deferred outflows related to pension and OPEB actuarial adjustments. Cash and investments for governmental activities decreased by approximately $1.9 million, largely due to continued capital project expenditures, debt service payments, and operating transfers during the fiscal year.
Total governmental liabilities and deferred inflows decreased from approximately $146.4 million in FY 2023-24 to $142.7 million in FY 2024-25. The decrease was primarily attributable to scheduled debt repayments, reductions in net pension and OPEB liabilities, and lower deferred inflows related to OPEB. Long-term debt due within and beyond one year decreased by approximately $1.4 million as the City continued making scheduled debt service payments.
Governmental activities unrestricted net position decreased further from a deficit of $62.3 million in FY 2023-24 to a deficit of $66.6 million in FY 2024-25. Although the unrestricted deficit remains significant, it is primarily (8)
661
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
attributable to the recognition of long-term pension and OPEB obligations required under governmental accounting standards.
Business -type activities net position increased from $14.4 million in FY 2023-24 to $15.5 million in FY 2024-25. The increase was primarily attributable to positive operating results in both the Refuse and Sewer Maintenance Funds with increases to fees collected through property taxes and sewer maintenance fees, respectively.
The largest portion of the City's net position continues to reflect its investment in capital assets. As of June 30, 2025, the City reported $130.6 million invested in capital assets, net of related debt, compared to $127.2 million in the prior year.
Restricted net position decreased from $21.8 million in FY 2023-24 to $21.0 million in FY 2024-25. The decrease was primarily due to planned use of restricted debt service reserves and transportation -related resources for capital improvement and infrastructure projects.
Change in Net Position
Governmental Activities
Business -type Activities
Total
20 2025
2024
REVENUES
Program Revenues:
Charges for Services
$ 8,216,617
$ 7,072,927
$ 6,929,407
$ 6,324,092
$ 15,146,024
$ 13,397,019
Operating contribution and grants
7,574,540
9,936,713
-
-
7,574,540
9,936,713
Capital contributions and grants
4,764,786
1,938,279
-
-
4,764,786
1,938,279
General Revenues:
Taxes -il 47,450,242
45,901,213
-
-
47,450,242
45,901,213
Investment income
1,682,894
1,900,697
103,730
44,933
1,786,624
1,945,630
Gain on sale of property
-
-
-
-
-
-
Miscellaneous
460,735
281,897
-
460,735
281,897
Total revenues
70,149,814
67,031,726
7,033,137
6,369,025
77,182,951
73,400,751
EXPENSES
General government
18,872,842
17,490,713
-
18,872,842
17,490,713
Public safety
28,180,805
27,470,712
-
28,180,805
27,470,712
Public works
13,857,129
10,729,394
-
13,857,129
10,729,394
Community development
2,988,099
2,563,283
-
2,988,099
2,563,283
Commuityservices
4,654,541
4,253,514
-
4,654,541
4,253,514
Interest
2,604,575
2,959,601
-
2,604,575
2,959,601
Refuse
-
-
4,919,556
4,887,578
4,919,556
4,887,578
Sewer maintenance '
-
-
1,005,404
1,466,857
1,005,404
1,466,857
Total Expenses
71,157,991
65,467,217
5,924,960
6,354,435
77,082,951
71,821,652
CHANGES IN NET POSITION BEFORE TRANSFERS
(1,008,177)
1,564,509
1,108,177
14,590
100,000
1,579,099
■
TRANSFERS
-
(5,939,707)
-
5,939,707
-
-
a
CHANGES IN NET POSITION
(1,008,177)
(4,375,198)
1,108,177
5,954,297
100,000
1,579,099
-
J.
NET POSITION, BEGINNING OF YEAR
74,199,970
78,575,168
14,365,652
8,411,355
88,565,622
86,986,523
NET POSITION,END OFYEAR
$ 73,191,793
$ 74,199,970
$ 15,473,829
$ 14,365,652
$ 88,665,622
$ 88,565,622
662
(9)
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
The following is a summary of activities for the years ending June 30, 2025, and 2024:
Governmental Activities:
Governmental activities decreased the City's net position by approximately $1.0 million during FY 2024-25, compared to a decrease of $4.4 million in FY 2023-24. The improved operating results were primarily attributable to continued growth in tax revenues, increased program revenues, and lower one-time financing activity compared to the prior year.
Revenues
Total governmental revenues, including program revenues and general revenues, increased from approximately $67.0 million in FY 2023-24 to $70.1 million in FY 2024-25. General revenues increased by approximately $1.5 million, driven primarily by continued strength in property tax, sales tax, utility users tax, and franchise tax revenues.
The following chart illustrates the percentage breakdown of revenue generated by governmental activities:
Revenue Sources
Governmental Activities
Fiscal Year Ended June 30, 2025
Taxes, 67.64%
E Charges For Services
• Taxes
IR Miscellaneous
Investment Income,
2.40%
Miscellaneous, 0.66%
Charges For Services,
11.71%
Operating Contributions
& Grants, 10.80%
Capital Contributions &
Grants, 6.79%
N Operating Contributions & Grants o Capital Contributions & Grants U Investment Income • Gain (Loss) on Sale of Property
Property tax revenues increased by approximately $1.2 million, or 5.7%, reflecting continued growth in assessed property valuations throughout the City. Sales tax revenues increased modestly by approximately $136,000 due to continued consumer spending and economic stability within the region.
Program revenues increased significantly in certain functional areas. Community development charges for services increased significantly from $1.5 million to $2.6 million, or 71.0% due to higher permit activity, fire plan check activity, and continued private development throughout the city. Public safety charges for services also increased by $233,055, or 25.51% due primarily to increased ordinance -related parking fines and enforcement activity. Public (10)
663
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
Safety operating grants increased due to reimbursement for the operations of the Placentia Navigation Center.
Public Works operating and capital grants increased substantially due to ongoing federally and state -funded infrastructure and transportation improvement projects.
Capital Contributions and Grants saw an increase of $2.8 million, primarily due to housing development activity occurring throughout the City and continued infrastructure -related reimbursement activity.
Investment income remained strong during FY 2024-25 with a slight decrease of $217,803 mostly due to a market value adjustment.
Several major private development projects also remained active throughout the fiscal year, contributing to increased permit revenues, plan check activity, and future economic development opportunities within the City.
Significant projects included:
• A 140 -unit condominium townhome development at 440 N. Jefferson Street • A 68 -unit affordable housing development on Baker Street • Multiple infill townhome and condominium developments • The Toll Brothers residential development northeast of Alta Vista Street and Rose Drive • The Orangethorpe mixed -use residential and commercial development project Expenses
Governmental expenses increased from approximately $65.5 million in FY 2023-24 to $71.2 million in FY 2024-25.
Much of the increase was attributable to higher public safety costs, capital improvement activity, infrastructure maintenance, and increases in personnel -related expenditures.
General Government expenses increased by approximately $1.4 million due primarily to increased personnel costs, professional services, technology -related expenditures, and administrative support costs.
Public Safety remained the City's largest governmental function, representing approximately 40% of total governmental activity expenses. Public Safety expenses increased by approximately $710,000 over the prior year due primarily to higher personnel costs, contractual services, and operational expenditures.
Public Works expenses increased significantly by approximately $3.1 million due to expanded infrastructure maintenance activities, street improvements, and capital project expenditures funded through grants and transportation -related revenues.
664
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
The following chart illustrates the percentage breakdown of expenses related to governmental activities:
Functional Expenses
Governmental Activities
Fiscal Year Ended June 30, 2025
Public Works, 19.47%
Public Safety,
39.60%
I➢ General Govemment u Public Safety
Community
Development, 4.20%
Community Services,
6.54%
Interest Expense, 3.66%
General Government,
26.52%
El Public Works
• Community Development Ili Community Services • Interest Expense Business -Type Activities:
Business -type activities increased the City's net position by approximately $1.1 million during FY 2024-25, compared to an increase of approximately $6.0 million during FY 2023-24. The prior year increase was significantly impacted by a one-time capital contribution of approximately $5.9 million related to sewer infrastructure assets transferred from governmental activities.
Excluding the prior year capital contribution, business -type activities experienced improved operational performance during FY 2024-25.
Total business -type operating revenues increased from approximately $6.3 million in FY 2023-24 to $6.9 million in FY 2024-25, while operating expenses decreased from approximately $6.4 million to $5.9 million. (12)
665
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
Business -Type Activities
2025
2024
Operating Revenues
$ 6,929,407
$ 6,324,092
Operating Expenses
$ 5,924,960
6,354,435
Operating Income (loss)
1,004,447
(30,343)
Non -operating Income
$ 103,730
44,933
Income(loss)before Transfers &Special Items
1,108,177
14,590
Transfers
$ -
5,939,707
Change in Net Position
$ 1,108,177
5,954,297
Net Position - Beginning of Year
$ 14,365,652
8,411,355
Net Position - End of Year
$ 15,473,829
$ 14,365,652
Refuse
The City of Placentia contracts with Republic Services to provide weekly waste collection services for residential, multi -family, and commercial properties. The Refuse Fund reported an increase in net position of approximately $344,985 during FY 2024-25, compared to a decrease of approximately $65,000 in the prior year. Operating revenues increased due to higher refuse service charges and customer billings, while operating expenses increased at a slower rate.
Refuse
2025
2024
_
Operating Revenues
$ 5,241,178
$4,812,880
Operating Expenses
4,919,556
4,887,578
Operating Income (loss)
321,622
(74,698)
Non -operating Income
23,363
9,797
Income(loss)before Transfers &S ecial Items
344,985
(64,901)
Transfers
-
-
Change in Net Position
344,985
(64,901)
Net Position - Beginning of Year
147,521
212,422
Net Position - End of Year
$ 492,506
$ 147,521
Sewer
The City operates and maintains 84 miles of gravity sanitary sewer pipelines that serve the majority of parcels within the 6.6 square mile city limits. Operations, maintenance, and repair activities include sewer line cleaning, root removal, manhole maintenance and repair, sewer line video inspection, and sewer lateral maintenance, repair, and replacement.
(13)
666
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
The Sewer Maintenance Fund reported an increase in net position of approximately $763,192 during FY 2024-25.
The increase was primarily attributable to stable operating revenues, controlled maintenance costs, a decrease in staff allocated to the fund, and continued positive operating cash flows.
Sewer
2025
2024
Operating Revenues
$ 1,688,229
$ 1,511,212
Operating Expenses
1,005,404
1,466,857
Operating Income (loss)
682,825
44,355
Non -operating Income
80,367
35,136
Income(loss)before Transfers &Special Items
763,192
79,491
Transfers
-
5,939,707
Change in Net Position
763,192
6,019,198
Net Position - Beginning of Year
14,218,131
8,198,933
Net Position - End of Year
$14,981,323
$14,218,131
FINANCIAL ANALYSIS OF THE CITY'S MAJOR FUNDS
The City uses fund accounting to ensure and demonstrate compliance with finance -related legal requirements.
Governmental Funds
The focus of the City's governmental funds is to provide information on near -term inflows, outflows, and balances of spendable resources. This information is valuable in assessing the City's financing needs. In particular, the assigned and unassigned fund balances serve as key indicators of the government's net resources available for spending at the end of the fiscal year. The unassigned fund balance represents the portion of the fund balance that has not been committed for a specific purpose by an external party, the City Council, or anyone authorized to allocate resources.
As of June 30, 2025, the City's governmental funds reported combined ending fund balances of approximately $29.0 million, a decrease of approximately $4.5 million from the prior year balance of $33.5 million. (14)
667
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
Components of Fund Balance
Fiscal Year Ended June 30, 2025
(Governmental Funds)
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$-
$20,063,493
$474,769
Nonspendable
$5,061,818
$1,996,732
Restricted
$1,396,102
Committed Assigned Unassigned
The total fund balance includes $474,769 in non -spendable fund balance, which consists of long-term loans receivable, inventories of supplies, prepaid expenditures, and prepaid items. These resources cannot be used to finance operating expenditures.
The restricted fund balance of $20.0 million represents resources that can only be spent for specific purposes due to constraints imposed either (1) externally by creditors (such as debt covenants), grantors, or laws and regulations of other governments, or (2) by law through constitutional provisions or enabling legislation. This reflects an approximate decrease of $696,603 compared to the previous year, primarily due to a decrease in cash within the Pension Stability fund.
The City Council, the City's highest level of decision -making authority, may commit fund balance for specific purposes pursuant to constraints imposed by formal actions taken, such as an ordinance or resolution. These committed amounts are classified as committed fund balance. As of June 30, 2025, the City has committed $2.0 million from Measure U Funds for the continuation of infrastructure projects and other capital projects.
Assigned fund balance represents funds that are constrained by the City's intent to use them for specific purposes.
As of June 30, 2025, the City had $1.4 million assigned fund balance intended to cover prior year purchase order commitments.
Unassigned fund balance represents the portion of the fund balance that does not fall into any of the other four fund balance categories and has no specific spending limitations. As of June 30, 2025, the unassigned fund balance for all governmental funds combined is $5.1 million. This includes $9.1 million in unassigned fund balance in the General Fund, offset by combined unassigned deficits totaling $4 million across several funds, including the Navigation Center Fund, Miscellaneous Grants Fund, Measure M, LMD 92-1 Fund, Housing and Community Development Fund, and the City Capital Projects Fund.
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668
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
The decrease in total governmental fund balance was primarily attributable to planned capital project expenditures, continued infrastructure investment, debt service payments, and use of restricted resources for transportation and capital improvement projects.
General Fund:
The General Fund is the City's chief operating fund. As of June 30, 2025, the General Fund reported a fund balance of approximately $14.3 million, a decrease of approximately $4.1 million from the prior year. This change was primarily due to a decrease in incoming transfers and a decrease in debt issuance.
Revenue
General Fund revenues remained relatively stable during the fiscal year. Revenues totaled approximately $56.7 million in FY 2024-25, compared to $57.1 million in FY 2023-24. While tax revenues increased overall, total revenues declined slightly due primarily to reductions in miscellaneous revenues and lower one-time revenue activity compared to the prior year.
Expense
General Fund expenditures as of June 30, 2025, amounted to $60.3 million, a sharp decrease of $8.8 million compared to the previous year, or 12.73%. The decrease in expenditures was primarily driven by lower capital outlay.
General Government
General government expenses increased due to higher costs for professional services and a scheduled increase in salaries and associated benefits.
Public Safety
Public safety expenses increased due to a scheduled increase in salaries and associated benefits.
Capital Outlay
Capital outlay was the largest contributor to the decrease in expenses. Capital outlay decreased by $11.8 million, or 53.53%, compared to the prior year. The expenditure decreased significantly compared to the prior year because a substantial portion of the Public Safety Building construction costs had already occurred during FY 2023-24.
Proprietary Funds
The City maintains proprietary funds for sewer maintenance and refuse operations. At the end of the fiscal year, the combined net position of these two funds totaled $15.4 million, reflecting an increase of $1.1 million.
The sewer maintenance fund had a net position of $15.0 million, of which $11.8 million is invested in capital assets.
There were no significant changes between the current year and the previous fiscal year.
In fiscal year 2024-25, the Refuse Fund reported a positive net position of $492,506, an increase of $344,985 compared to the previous year. While the Refuse Fund experienced an increase in revenue from sales and service charges, this was offset by higher landfill and contractor charges due to an increase in units serviced. (16)
669
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
The combined internal service funds had a negative net position of $4.7 million as of June 30, 2025, compared to a negative net position of $1.3 million on June 30, 2024. The change in net position for 2025 was $3.4 million, primarily due to an increase in claims and liability insurance premiums.
GENERAL FUND BUDGETARY HIGHLIGHTS
During the year, adjustments were made to the estimated revenues and appropriations in the General Fund to more accurately reflect actual amounts received and expended. It is standard practice for the City to conduct a comprehensive analysis of estimated revenues and appropriations at the end of the first six months of the fiscal year. In accordance with City policy, any increases to the total General Fund appropriations for the year must be approved by the City Council.
The adopted General Fund budget for fiscal year 2024-25, including transfers from other funds, was nearly $50.4 million. This budget was later increased through amendments totaling $9.5 million, resulting in a final budget of $59.9 million. Actual revenues for the year totaled $56.7 million, with the largest negative budget variance of $5.7 million occurring in Capital Projects Revenue. This variance is primarily due to a project being funded with bond proceeds or grants, which are recorded on a reimbursement basis.
The adopted General Fund expenditure budget for fiscal year 2024-25 was $50.9 million. However, the City Council approved amendments that increased appropriations by $12.5 million, resulting in a final amended budget of $63.5 million. The largest increases were allocated to Capital Outlay, which includes improvements to the City's streets, fire station, parks, and the purchase of machinery and equipment. In fiscal year 2023-24, the City issued bonds and used fund balance to construct a new Public Safety building, which will house facilities for storing and processing evidence, provide a new Emergency Operations Center, and support a new Public Safety Communications Center.
As of fiscal year 2024-25, the project is still ongoing.
During the fiscal year, the City recognized that' costs continued to rise and worked to limit spending to essential items and services in order to remain fiscally responsible. In response, the City issued a stop spending order in April 2025, limiting purchases to essential items.. With the fund balance committed for the construction of the new Public Safety building and other capital projects, the City ended the fiscal year with an estimated reduction in fund balance of $4.1 million.
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets
The City continued significant investment in capital infrastructure during FY 2024-25. Capital asset activity included roadway rehabilitation, sewer infrastructure improvements, park renovations, public safety improvements, technology infrastructure upgrades, and facility modernization projects.
Major capital project expenditures during the fiscal year included:
• Public Safety Building construction
• Residential slurry and roadway rehabilitation projects • Tuffree Park Sports Field Lighting project
• McFadden Park Playground Renovation
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670
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
• La Placita Parkette Improvements
• Citywide wayfinding signage improvements
• Transit -oriented sewer infrastructure improvements
• IT infrastructure replacement and ERP modernization
• Vehicle and equipment replacement projects
• Park and facility renovation projects
Construction in progress remained significant at year-end due primarily to ongoing Public Safety Building construction and infrastructure projects underway throughout the City.
The City's capital assets, net of accumulated depreciation, for its governmental and business -type activities as of June 30, 2025, totaled $152.8 million, marking an increase of approximately $4.9 million, or 3.34%, from the prior year. Capital assets encompass land, buildings, infrastructure, and equipment.
Governmental activities saw an increase of $5.6 million, net of accumulated depreciation. This growth was primarily driven by the completion of street network projects, such as previously uncapitalized roadway rehabilitation projects, as well as the completion of improvements to the Transit Oriented Development (TOD) sewer project.
Additionally, construction in progress (CIP) activity rose due to the ongoing construction of the public safety building, which has yet to be completed.
Total business -type capital assets, net of accumulated depreciation, decreased during the fiscal year due to scheduled depreciation of structures and improvements with no new assets put in place throughout the year. After accounting for depreciation, the net decrease in capital assets for business -type activities was $635,046.
Governmental Activities
Business -type Activities
Total
$ 26,118,971
• -
$ 26,118,971
2025 2024 2025
2024
Land
$ -
$ -
$ 26,118,971
$ 26,118,971
La nd - Right of Way
1,008,822
1,008,822
-
-
1,008,822
1,008,822
Trees
3,196,564
3,196,564
-
-
3,196,564
3,196,564
Construction in Progress
34,920,491
26,554,604
-
-
34,920,491
26,554,604
Structures & Improvements
16,134,383
16,823,769
11,817,337
12,440,432
27,951,720
29,264,201
Equipment
5,703,890
6,568,336
18,236
30,187
5,722,126
6,598,523
Right -to -Use Lease Land
-
228,303
-
-
-
228,303
Right -to -Use Lease Equipment
684,661
758,743
-
-
684,661
758,743
Subscription Assets
2,108,084
2,141,596
-
-
2,108,084
2,141,596
Land Improvements
31,584
37,380
-
-
31,584
37,380
Infrastructure
-
-
Streets Network
40,331,045
41,221,385
-
-
40,331,045
41,221,385
Streets Appurtenances
8,781,689
8,598,144
-
-
8,781,689
8,598,144
Storm Drains
1,985,734
2,173,976
-
-
1,985,734
2,173,976
Total Ca pita I Assets
$ 141,005,918
$ 135,430,593
$ 11,835,573
$ 12,470,619
$ 152,841,491
$ 147,901,212,
For further detailed information see Note 5, Capital Assets.
Debt Administration
As of June 30, 2025, the City's long-term debt totaled approximately $95.0 million, reflecting an decrease of $4.1 million from the prior year. This change was attributed to scheduled principal and interest payments on outstanding debt obligations during FY 2024-25. Total long-term liabilities decreased primarily due to normal debt amortization and reductions in financed purchase obligations and lease liabilities. (18)
671
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
The City continues to monitor long-term pension and OPEB obligations, which remain significant components of the City's overall liabilities.
Governmental Activities
Business -type Activities
Total
2025 ipr 2024
Capital Leases (Radio)
$ 204,512
$ 362,479
$ -
$ -
$ 204,512
$ 362,479
Fire Lease#1
1,737,718
2,096,314
-
-
1,737,718
2,096,314
Fire Lease#2
910,618
1,098,741
-
-
910,618
1,098,741
Melrose Easement
157,266
222,672
-
-
157,266
222,672
Electric Vehicles
66,482
96,530
-
-
66,482
96,530
OCTA Advance
254,583
714,982
-
-
254,583
714,982
Fire UAL Payoff Loan
-
344,932
-
344,932
Motorola Equipment
1,100,683
1,197,159
-
-
1,100,683
1,197,159
2022 Loan Payable (2003 COP)
898,219
1,331,266
-
-
898,219
1,331,266
2021 Installment Sale Agreement
1,925,000
2,293,000
-
-
1,925,000
2,293,000
2020A Lease Revenue Bond
46,340,000
48,530,000
-
-
46,340,000
48,530,000
2023 Lease Revenue Bond
9,050,000
9,190,000
-
-
9,050,000
9,190,000
Unamortized Bond Premium
340,440
352,179
-
-
340,440
352,179
Leases Payable
681,495
998,122
-
-
681,495
998,122
Subscription Liability
1,779,522
1,859,215
-
-
1,779,522
1,859,215
Claims Payable
7,201,839
3,820,916
-
-
7,201,839
3,820,916
Compensated Absences
2,508,871
2,928,780
36,395
31,632
2,545,266
2,960,412
Other
349,023
377,671
Poste mpl oyment Benefit
12,588,382
13,621,646
12,937,405
13,999,317
Pension Liabilities
7,241,058
7,985,498
34,335
172,847
7,275,393
8,158,345
Total Long -Term Liabilities
$ 94,986,688
$ 99,044,431
$ 419,753
$ 582,150
$ 95,406,441
$ 99,626,581,
For further detailed information see Note 6, Long -Term Liabilities.
NEXT YEAR'S BUDGET, TAX RATES AND FEE LEVELS
The fiscal year 2025-26 General Fund operating budget was adopted with a projected surplus of $888,600, driven by use of one time revenues and reduction of non -essential expenses.
General Fund revenues and transfers from other funds are currently estimated at $53.3 million for fiscal year 2025- 26, which is in line with the actual revenues for fiscal year 2024-25. The adopted fiscal year 2025-26 General Fund budget includes $46.1 million in appropriations for expenditures (excluding CIP expenditures) and transfers to other funds. The City made efforts to limit any increases in expenditures to essential services or necessary contract increases.
Through this approach, the City was able to reduce expenditures by $1.7 million compared to the fiscal year 2024- 25 actuals. The approved staffing for fiscal year 2025-26 includes 193 full-time positions, 4 unfunded over -hires, and 76 elected and appointed personnel. As in previous years, contracts for services across all departments were carefully reviewed during budget development. In cases where contracts offered no potential cost savings or where a higher level of service could be provided for the same or lower cost, contract personnel were replaced by City employees.
(19)
672
City of Placentia
Management's Discussion and Analysis (Unaudited)
Year Ended June 30, 2025
REQUESTS FOR INFORMATION
This financial report is intended to provide a general overview of the City's finances for all individuals with an interest in the government's financial activities. If you have any questions regarding the information presented in this report or require additional financial details, please contact the City's Finance Department at the City of Placentia, 401 East Chapman Avenue, Placentia, California 92870, call (714) 993-8237 or visit our website at www.placentia.org .
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673
BASIC FINANCIAL STATEMENTS
674
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675
GOVERNMENT -WIDE FINANCIAL STATEMENTS
676
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677
CITY OF PLACENTIA
STATEMENT OF NET POSITION
JUNE 30, 2025
Primary Government
ASSETS
Current Assets:
Cash and Investments
Receivables, Net of Allowance:
Accounts
Taxes
Grants
Interest
Loans
Leases
Prepaid Items
Inventory
Total Current Assets
Noncurrent Assets:
Land Held for Resale
Leases Receivable
Restricted Assets:
Cash and Investments with Fiscal Agent
Pension Stability Fund
Capital Assets - Nondepreciable
Capital Assets - Depreciable/Amortizable, Net
Total Noncurrent Assets
Governmental Business -Type
Activities Activities
$ 27,606,553
3,266,313
4,200,022
639,999
373,762
1,894,101
574,218
69,485
7,740
38,632,193
1,036,761
23,047,053
4,603,703
1,334,070
65,244,848
75,761,070
171,027,505
Total Assets 209,659,698
DEFERRED OUTFLOWS OF RESOURCES
Deferred Charges on Refunding
Deferred Outflows of Resources Related
to Pensions
Deferred Outflows of Resources Related
to OPEB
Total Deferred Outflows of Resources
See accompanying Notes to Basic Financial Statements.
$ 4,584,263
138,294
30,079
Total
$ 32,190,816
3,404,607
4,230,101
639,999
373,762
1,894,101
574,218
69,485
7,740
4,752,636 43,384,829
11,835,573
11,835,573 182,863,078
1,036,761
23,047,053
4,603,703
1,334,070
65,244,848
87,596,643
16,588,209 226,247,907
154,460 - 154,460
4,077,463 26,423 4,103,886
2,040,568 56,577 2,097,145
6,272,491
83,000 6,355,491
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678
CITY OF PLACENTIA
STATEMENT OF NET POSITION (CONTINUED)
JUNE 30, 2025
Primary Government
LIABILITIES
Current Liabilities:
Accounts Payable
Accrued Payroll and Benefits
Deposits Payable
Retentions Payable
Accrued Interest Payable
Unearned Revenues
Long -Term Debt Due Within One Year
Claims Payable Due Within One Year
Compensated Absences Due Within One Year
Total Current Liabilities
Noncurrent Liabilities
Long -Term Debt Due in More Than One Year
Claims Payable Due in More Than One Year
Compensated Absences Due in More Than
One Year
Net OPEB Liability
Aggregate Net Pension Liabilities
Total Noncurrent Liabilities
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Leases Related
Deferred Pension - Related Items
Deferred OPEB - Related Items
Total Deferred Inflows of Resources
NET POSITION
Net Investment in Capital Assets
Restricted for:
Public Safety
Public Works
Community Development
Community Services
Debt Service
Transportation
Park Development
Air Quality
Affordable Housing
Pension Stability
Total Restricted
Unrestricted (Deficit)
Total Net Position
See accompanying Notes to Basic Financial Statements.
Governmental
Activities
Business -Type
Activities
$ 6,873,777 $ 416,032
1,474,589 70,610
1,411,777
1,115,769
385,354
726,708
5,186,365
1,800,460
935,475 13,570
19,910,274
60,260,173
5,401,379
1,573,396
12,588,382
7,241,058
87,064,388
106,974,662
22,830,294
2,893,567
10,041,873
35,765,734
118,813,090
2,067,013
1,214,430
8,067,122
535,911
4,764,278
464,823
21,518
382,443
2,110,268
1,334,070
20,961,876
(66,583,173)
500,212
22,825
349,023
34,335
406,183
906,395
12,566
278,419
290,985
Total
$ 7,289,809
1,545,199
1,411,777
1,115,769
385,354
726,708
5,186,365
1,800,460
949,045
20,410,486
60,260,173
5,401,379
1,596,221
12,937,405
7,275,393
87,470,571
107,881,057
22,830,294
2,906,133
10,320,292
36,056,719
11,835,573 130,648,663
3,638,256
2,067,013
1,214,430
8,067,122
535,911
4,764,278
464,823
21,518
382,443
2,110,268
1,334,070
20,961,876
(62,944,917)
$ 73,191,793 $ 15,473,829 $ 88,665,622
(22)
679
CITY OF PLACENTIA
STATEMENT OF ACTIVITIES
YEAR ENDED JUNE 30, 2025
Net Revenue (Expense)
Program Revenues and Changes in Net Positions
Capital Grants
Charges for Operating Grants and Governmental Business -Type Functions/Programs Expenses Services and Contributions Contributions Activities Activities
PRIMARY GOVERNMENT
Governmental Activities:
General Government
Public Safety
Public Works
Community Development
Community Services
Interest
Total Governmental Activities
Business -Type Activities:
Refuse
Sewer Maintenance
Total Business -Type Activities
Total Primary Government
$ 18,872,842 $ 3,106,022 $ 263,550 $ $ (15,503,270) $
28,180,805 1,146,530 4,113,843 - (22,920,432)
13,857,129 987,054 3,193,714 4,369,352 (5,307,009)
2,988,099 2,580,254 3,433 395,434 (8,978)
4,654,541 396,757 - - (4,257,784)
2,604,575 - - (2,604,575)
71,157,991 8,216,617 7,574,540 4,764,786 (50,602,048)
4,919,556 5,241,178
1,005,404 1,688,229
5,924,960 6,929,407
$ 77,082,951 $ 15,146,024 $ 7,574,540 $ 4,764,786 (50,602,048) See accompanying Notes to Basic Financial Statements.
GENERAL REVENUES
Taxes:
Property Taxes 21,951,143
Sales Taxes 17,005,105
Utility Users Tax 3,234,789
Franchise Taxes 3,163,809
Transient Occupancy Taxes 1,800,796
Real Property Transfer Taxes 289,192
Other Taxes 5,408
Investment Earnings 1,682,894
Miscellaneous 460,735
Total General Revenues 49,593,871
CHANGES IN NET POSITION
Net Position - Beginning of Year
NET POSITION - END OF YEAR
(23)
(1,008,177)
74,199,970
321,622
682,825
Total
$ (15,503,270)
(22,920,432)
(5,307,009)
(8,978)
(4,257,784)
(2,604,575)
(50,602,048)
321,622
682,825
1,004,447 1,004,447
1,004,447 (49,597,601)
103,730
21,951,143
17,005,105
3,234,789
3,163,809
1,800,796
289,192
5,408
1,786,624
460,735
103,730 49,697,601
1,108,177 100,000
14,365,652 88,565,622
$ 73,191,793 $ 15,473,829 $ 88,665,622
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681
FUND FINANCIAL STATEMENTS
682
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683
GOVERNMENTAL FUND FINANCIAL STATEMENTS
684
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685
CITY OF PLACENTIA
BALANCE SHEET
GOVERNMENTAL FUNDS
JUNE 30, 2025
Major Funds
Placentia
Citywide Regional
Development Navigation
Impact Fee Center Other
General Special Special Debt Governmental
Fund Revenue Fund Revenue Fund Service Fund Funds Total ASSETS
Cash and Investments
Receivables:
Accounts
Taxes
Grants
Accrued Interest
Loans and Notes
Leases
Prepaid Items
Due from Other Funds
Inventories
Land Held for Resale
Restricted Assets:
Cash and Investments with
Fiscal Agents
Pension Stability Fund
$ 11,065,294 $ 5,154,044 $ 9,000 $ 73,181 $ 8,804,610 $ 25,106,129 466,129
4,200,022
373,730
786,121
23,614,232
66,203
1,350,603
7,740
509,148
3,282
1,843,270
956,914 3,266,313
4,200,022
639,999 639,999
32 373,762
598,832 1,894,101
7,039 23,621,271
69,485
1,350,603
7,740
1,036,761 1,036,761
4,603,703 4,603,703
1,334,070 - - - 1,334,070
Total Assets $ 43,264,144 $ 5,666,474 $ 1,852,270 $ 4,676,884 $ 12,044,187 $ 67,503,959
LIABILITIES, DEFERRED
INFLOWS OF RESOURCES,
AND FUND BALANCES
LIABILITIES
Accounts Payable
Accrued Payroll and Benefits
Deposits Payable
Retentions Payable
Due to Other Funds
Unearned Revenue
Total Liabilities
DEFERRED INFLOWS OF
RESOURCES
Leases
Unavailable Revenues
Total Deferred Inflows of
Resources
FUND BALANCES
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficit)
Total Fund Balances
Total Liabilities, Deferred
Inflows of Resources,
and Fund Balances
$ 2,534,872 $ $ 1,959,870 $
1,401,629 19,571
1,286,609 - -
901,495 1,250 -
210,900
11,000 624,000
6,135,605 1,250 2,814,341
22,823,467
28,216 509,148
22,851,683 509,148
471,487 3,282
1,334,070 5,152,794
1,996,732
1,396,102 -
9,078,465 -
14,276,856 5,156,076
1,218,270
1,218,270
(2,180,341)
(2,180,341)
$ 2,334,529 $ 6,829,271
40,555 1,461,755
125,168 1,411,777
213,024 1,115,769
1,139,703 1,350,603
91,708 726,708
3,944,687 12,895,883
6,827 22,830,294
1,029,234 2,784,868
1,036,061 25,615,162
474,769
4,676,884 8,899,745 20,063,493
1,996,732
1,396,102
(1,836,306) 5,061,818
4,676,884 7,063,439 28,992,914
$ 43,264,144 $ 5,666,474 $ 1,852,270 $ 4,676,884 $ 12,044,187 $ 67,503,959 See accompanying Notes to Basic Financial Statements.
(25)
686
CITY OF PLACENTIA
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE
GOVERNMENT -WIDE STATEMENT OF NET POSITION
JUNE 30, 2025
Total Fund Balances - Governmental Funds
Amounts reported for governmental activities in the statement of net position were reported differently because:
Capital assets used in governmental activities were not current financial resources. Therefore, they were not reported in the governmental funds balance sheet.
Nondepreciable
Depreciable and Amortizable
The loss incurred by the City resulting from the refunding of long-term liabilities are recorded as deferred outflows of resources and amortized over the remaining service life, equal to the lesser of the remaining bond -years on the refunded debt or the bond years on the refunding debt.
Revenue reported as unavailable revenue in the governmental funds when it is not received soon enough after year-end to be considered available. The availability criteria does not apply to the government -wide financial statements and, therefore, the revenue is recognized when eligibility requirements are met and earned.
Interest payable on long-term debt does not require current financial resources. Therefore, interest payable is not reported as a liability in the governmental funds.
Long-term liabilities are not due and payable in the current period and accordingly are not reported as fund liabilities. All liabilities, both current and long-term, are reported in the statement of net position:
Financed Purchases
OCTA Advance
Compensated Absences
Loans Payable
Bonds Payable
Leases Payable
Subscription Liability
Net pension liabilities and the related deferred outflows of resources and deferred inflows of resources are not due and payable in the current period or not available for current expenditures and are not reported in the governmental fund financial statements:
Pension Related Deferred Outflows of Resources
Aggregate Net Pension Liabilities
Pension Related Deferred Inflows of Resources
Net OPEB liabilities and the related deferred outflows of resources and deferred inflows of resources are not due and payable in the current period or not available for current expenditures and are not reported in the governmental fund financial statements:
OPEB Related Deferred Outflows of Resources
Net OPEB Liability
OPEB Related Deferred Inflows of Resources
Internal Service Funds were used by management to charge the costs of certain activities, such as insurance and equipment replacement to individual funds. The assets and liabilities of the Internal Service Funds were included in the governmental activities in the government -wide statement of net position.
Net Position of Governmental Activities as Reported on the Statement of Net Position See accompanying Notes to Basic Financial Statements.
$ 28,992,914
65,244,848
75,655,872
140,900,720
154,460
2,784,868
(385,354)
(3,076,596)
(254,583)
(2,508,871)
(3,923,902)
(55,730,440)
(681,495)
(1,779,522)
(67,955,409)
4,077,463
(7,241,058)
(2,893,567)
2,040,568
(12,588,382)
(10,041,873)
(4,653,557)
$ 73,191,793
(26)
687
CITY OF PLACENTIA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2025
Major Funds
REVENUES
Taxes
Intergovernmental
Licenses and Permits
Fines and Forfeitures
Investment Earnings
Charges for Services
Leases and Rents
Contributions
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Community Development
Community Services
Capital Outlay
Debt Service:
Principal Retirement
Interest and Fiscal Charges
Total Expenditures
REVENUES OVER (UNDER)
EXPENDITURES
OTHER FINANCING SOURCES
(USES)
Issuance of Debt
Transfers In
Transfers Out
Total Other Financing
Sources (Uses)
Placentia
Citywide Regional
Development Navigation
Impact Fee Center Other
General Special Special Debt Governmental
Fund Revenue Fund Revenue Fund Service Fund Funds
$ 47,216,243 $
533,191
3,202,633
764,685
1,070,564
1,604,224
1,579,509
706,522
108,913
2,896,668
3,488,019
Total
$ $ - $ 47,216,243
5,849,105 9,870,315
3,202,633
98,084 862,769
239,536 263,674 1,682,687
1,132,119 2,736,343
7,113 1,586,622
2,896,668
158,336 864,858
56,677,571 3,005,581 3,488,019 239,536 7,508,431 70,919,138 16,586,077
20,563,786
5,174,844
1,894,731
3,288,610
10,234,402
2,311,372
201,154
60,254,976
2,260 3,039,702
226,307
2,500 45,446 16,634,023
301,905 23,907,653
1,638,561 6,813,405
351,811 2,246,542
7,843 3,296,453
4,458,917 14,919,626
2,330,000
2,360,573
828,400 5,469,772
62,165 2,623,892
228,567 3,039,702 4,693,073 7,695,048 75,911,366
(3,577,405) 2,777,014 448,317 (4,453,537) (186,617) (4,992,228) 474,582
3,561,683
(4,553,777)
- - 474,582
4,483,922 474,172 8,519,777
(3,367,020) (598,980) (8,519,777)
(517,512) - 1,116,902 (124,808) 474,582
NET CHANGE IN FUND
BALANCES (4,094,917) 2,777,014 448,317 (3,336,635) (311,425) (4,517,646) Fund Balance - Beginning of Year 18,371,773 2,379,062 (2,628,658) 8,013,519 7,374,864 33,510,560
FUND BALANCES - END OF
YEAR $ 14,276,856 $ 5,156,076 $ (2,180,341) $ 4,676,884 $ 7,063,439 $ 28,992,914 See accompanying Notes to Basic Financial Statements.
(27)
688
CITY OF PLACENTIA
RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES,
EXPENDITURES, AND CHANGES IN FUND BALANCE TO THE
GOVERNMENT -WIDE STATEMENT OF ACTIVITIES
YEAR ENDED JUNE 30, 2025
Net Change in Fund Balances - Total Governmental Funds
Governmental activities in the Statement of Activities were reported differently because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in governmental funds.
Capital Outlay
Depreciation and Amortization
Net Effect on Disposal of Capital Assets
Contribution of Asset to the Sewer Fund
Amortization of the deferred charges on refunding is recognized as interest expense in the statement of activities.
Net change in revenues that was considered unavailable in the governmental funds. These items have been reported as revenue in the statement of activities.
Proceeds from the issuance of long-term debt is not a revenue in the statement of activities, but is reported as a liability on the government -wide statement of net position.
Principal repayment on long-term debt is not an expense in the statement of activities, but is considered an expenditure in governmental funds.
Long -Term Debt
Financed Purchases
OCTA Advance
Interest accrued on long-term debt is reported in the Statement of Activities, but does not require the use of current financial resources. Therefore, accrued interest is not reported as an expenditure in governmental funds. This amount represents the change in accrued interest from the prior year.
Compensated absences were reported in the government -wide statement of activities, but they did not require the use of current financial resources. Therefore, compensated absences were not reported as expenditures in the governmental funds.
Certain OPEB 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.
Certain pension expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds.
Internal Service Funds are used by management to charge the costs of certain activities, such as insurance and equipment replacement, to individual funds. The net revenue of the Internal Service Funds is reported in governmental activities.
Change in Net Position of Governmental Activities as Reported in the Statement of Activities See accompanying Notes to Basic Financial Statements.
$ (4,517,646)
12,904,979
(6,035,510)
(1,301,801)
5,567,668
(50,358)
(811,943)
(474,582)
4,110,164
1,145,072
460,399
5,715,635
19,317
419,909
1,441,661
(4,965,003)
(3,352,835)
$ (1,008,177)
(28)
689
PROPRIETARY FUND FINANCIAL STATEMENTS
690
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691
CITY OF PLACENTIA
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
JUNE 30, 2025
ASSETS
Current Assets:
Cash and Investments
Receivables:
Accounts
Taxes
Total Current Assets
Noncurrent Assets:
Capital Assets, Net of Accumulated Depreciation
Total Noncurrent Assets
Major Enterprise Funds
Refuse
Sewer
Maintenance
Business -Type Governmental
Activities Activities
Total
Internal
Service Funds
$ 1,164,170 $ 3,420,093 $ 4,584,263 $ 2,500,424
138,294 138,294
30,079 - 30,079
1,194,249 3,558,387 4,752,636
Total Assets 1,194,249
DEFERRED OUTFLOWS OF RESOURCES
Deferred Outflows of Resources Related to Pensions
Deferred Outflows of Resources Related to OPEB
Total Deferred Outflows of Resources
LIABILITIES
Current Liabilities:
Accounts Payable
Accrued Payroll and Benefits
Compensated Absences - Due Within One Year
Claims And Judgments - Due Within One Year
Total Current Liabilities
Noncurrent Liabilities:
Compensated Absences - Due in More Than One Year
Claims And Judgments - Due in More Than One Year
Net OPEB Liability
Aggregate Net Pension Liabilities
Total Noncurrent Liabilities
Total Liabilities
DEFERRED INFLOW OF RESOURCES
Deferred Inflows of Resources Related to Pensions
Deferred Inflows of Resources Related to OPEB
Total Deferred Inflows of Resources
NET POSITION
Investment in Capital Assets
Unrestricted (Deficit)
9,251
23,821
33,072
414,329
28,491
4,251
11,835,573 11,835,573
11,835,573 11,835,573
15,393,960 16, 588, 209
17,172 26,423
32,756 56,577
49,928 83,000
1,703
42,119
9,319
447,071 53,141
7,149
146,951
12,021
416,032
70,610
13,570
2,500,424
105,198
105,198
2,605,622
44,506
12,834
1,800,460
500,212 1,857,800
15,676 22,825
202,072 349,023
22,314 34,335
166,121 240,062
613,192 293,203
4,399
5,401,379
406,183 5,401, 379
906,395 7,259,179
8,167 12,566
117,224 161,195 278,419
121,623
492,506
169,362 290,985
11,835,573
3,145, 750
11,835,573
3,638,256
105,198
(4,758,755)
Total Net Position $ 492,506 $ 14,981,323 $ 15,473,829 $ (4,653,557) See accompanying Notes to Basic Financial Statements.
(29)
692
CITY OF PLACENTIA
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
YEAR ENDED JUNE 30, 2025
OPERATING REVENUES
Reimbursements
Sales and Service Charges
Total Operating Revenues
OPERATING EXPENSES
Administration
Reinsurance Premiums
Claims
Medical and Dental Premiums
Liability Insurance Premiums
Maintenance
Landfill and Contractor Charges
Depreciation Expense
Total Operating Expenses
OPERATING INCOME (LOSS)
NONOPERATING INCOME (LOSS)
Investment Earnings
Gain on Disposal of Capital Assets
Total Nonoperating Income
CHANGES IN NET POSITION
Net Position - Beginning of Year
NET POSITION - END OF YEAR
See accompanying Notes to Basic Financial Statements.
Business -Type Activities
Governmental
Activities
Sewer Internal
Refuse Maintenance Total Service
$ 52,356 $ - $ 52,356 $ 1,443,903
5,188,822 1,688,229 6,877,051 3,438,858
5,241,178 1,688,229 6,929,407 4,882,761
300,271 247,978 548,249 636,148
- - 203,798
- - 4,255,759
- - 883,797
- 2,294,884
- 122,380 122,380
4,619,285 - 4,619,285
- 635,046 635,046 3,829
4,919,556 1,005,404 5,924,960 8,278,215
321,622 682,825 1,004,447 (3,395,454)
23,363 80,367 103,730
- - 42,619
23,363 80,367 103,730 42,619
344,985 763,192 1,108,177 (3,352,835)
147,521 14,218,131 14,365,652 (1,300,722)
$ 492,506 $ 14,981,323 $ 15,473,829 $ (4,653,557)
(30)
693
CITY OF PLACENTIA
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
YEAR ENDED JUNE 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from Customers and Users
Cash Paid to Suppliers for Goods and Services
Cash Paid to Employees for Services
Cash Paid for Insurance Claims
Net Cash Provided (Used) by Operating Activities
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Proceeds from Sale of Capital Assets
Business -Type Activities
Refuse
Sewer
Maintenance
Total
Governmental
Activities
Internal
Service
$ 5,279,415 $ 1,694,595 $ 6,974,010 $ 4,914,880
(4,586,755) (139,041) (4,725,796) (662,063)
(280,046) (207,156) (487,202)
412,614
CASH FLOWS FROM INVESTING ACTIVITIES
Interest Received 23,363
NET INCREASE IN CASH AND CASH EQUIVALENTS
Cash and Cash Equivalents - Beginning of Year
CASH AND CASH EQUIVALENTS - END OF YEAR
CASH AND CASH EQUIVALENTS
Cash and Investments
See accompanying Notes to Basic Financial Statements.
1,348,398 1,761,012
80,367
435,977 1,428,765
728,193 1,991,328
103,730
1,864,742
2,719,521
(4,255,759)
(2,942)
31,133
28,191
2,472,233
$ 1,164,170 $ 3,420,093 $ 4,584,263 $ 2,500,424
$ 1,164,170 $ 3,420,093 $ 4,584,263 $ 2,500,424
(31)
694
CITY OF PLACENTIA
STATEMENT OF CASH FLOWS (CONTINUED)
PROPRIETARY FUNDS
YEAR ENDED JUNE 30, 2025
RECONCILIATION OF OPERATING INCOME (LOSS) TO
NET CASH PROVIDED (USED) BR OPERATING ACTIVITIES
Operating Income (Loss)
Adjustments to Reconcile Operating (Loss) to
Net Cash Provided (Used) by Operating Activities:
Depreciation
Changes in Assets and Liabilities:
(Increase) Decrease in Accounts Receivables
(Increase) Decrease in Taxes Receivables
(Increase) Decrease in Prepaids
(Increase) Decrease in Deferred Outflows of
Resources Related to Pension
(Increase) Decrease in Deferred Outflows of
Resources Related to OPEB
Increase (Decrease) in Accounts Payable
Increase (Decrease) in Accrued Liabilities
Increase (Decrease) in Compensated Absences
Increase (Decrease) in Claims Payable
Increase (Decrease) in Net Pension Liabilities
Increase (Decrease) in Net OPEB Liabilities
Increase (Decrease) in Deferred Inflows of
Resources Related to Pension
Increase (Decrease) in Deferred Inflows of
Resources Related to OPEB
Net Cash Provided (Used) by Operating Activities
See accompanying Notes to Basic Financial Statements.
Business -Type Activities
Refuse
Sewer
Maintenance
Total
Governmental
Activities
Internal
Service
$ 321,622 $ 682,825 $ 1,004,447 $ (3,395,454)
635,046 635,046 3,829
28,857 6,366 35,223 32,119
9,380 - 9,380 -
- 1,309
113,357 159,981 273,338
14,777 20,320 35,097
32,530 (16,661) 15,869 (21,698)
3,871 6,061 9,932 (3,970)
(917) 5,680 4,763 -
- - 3,380,923
(58,677) (79,835) (138,512)
(12,062) (16,586) (28,648)
(20,578) (27,923) (48,501)
(19,546) (26,876) (46,422)
$ 412,614 $ 1,348,398 $ 1,761,012
2,942)
(32)
695
FIDUCIARY FUND FINANCIAL STATEMENTS
696
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697
CITY OF PLACENTIA
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
JUNE 30, 2025
RDA
Successor Custodial
Agency Funds
ASSETS
Pooled Cash and Investments
Receivables:
Miscellaneous
Restricted Assets:
Cash and Investments with Fiscal Agents
Total Assets
LIABILITIES
Accounts Payable
Accrued Liability
Accrued Interest
Long -Term Liabilities:
Due in One Year
Due in More Than One Year
Total Liabilities
NET POSITION (DEFICIT)
Restricted for Individuals, Organizations, and Other
Governments
$ 640,796 $ 673,603
730,018
1,370,814
2,700
8,812
124,693
1,108,577
7,399,077
8,643,859 1,610
726
674,329
1,596
14 (7,273,045) 672,719
Total Net Position (Deficit) $ (7,273,045) $ 672,719
See accompanying Notes to Basic Financial Statements.
(33)
698
CITY OF PLACENTIA
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FIDUCIARY FUNDS
YEAR ENDED JUNE 30, 2025
RDA
Successor Custodial
Agency Funds
ADDITIONS
Property Taxes
Charges for Services
Investment Earnings
Total Additions
DEDUCTIONS
Program Costs
Administrative Expenses
Interest Expense
Contributions to the City
Total Deductions
CHANGE IN NET POSITION
Net Position (Deficit) - Beginning of Year
NET POSITION (DEFICIT) - END OF YEAR
See accompanying Notes to Basic Financial Statements.
$ 1,470,639 $
- 298,491
16,099 15,634
1,486,738 314,125
22,925
5,200
299,814
50,000
377,939 56,897
14,616
42,281
1,108,799 257,228
(8,381,844) 415,491
$ (7,273,045) $ 672,719
(34)
699
NOTES TO BASIC FINANCIAL STATEMENTS
700
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701
CITY OF PLACENTIA
INDEX TO THE NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
Page
Note 1 — Summary of Significant Accounting Policies 37
A. Financial Reporting Entity 37
B. Basis of Accounting and Measurement Focus 38
C. Cash and Investments 41
D. Fair Value Measurement 42
E. Property Taxes Receivable 42
F. Prepaid Items 42
G. Inventories 43
H. Capital Assets 43
I. Leases 44
J. Subscription -Based Information Technology Arrangements (SBITAs) 44 K. Unearned and Unavailable Revenue 45
L. Compensated Absences Payable 45
M. Claims Payable 46
N. Pensions 46
O. Other Postemployment Benefits (OPEB) 46
P. Long -Term Obligations 46
Q. Net Position 46
R. Fund Balances 47
S. Spending Policy 47
T. Use of Estimates 48
Note 2 — Cash and Investments 48
A. Demand Deposits 49
B. Investments Authorized by the California Government Code and the City's Investment Policy 50
C. Investments Authorized by Debt Agreements 50
D. Fair Value Measurement 51
E. Risk Disclosures 52
F. Investment in Local Agency Investment Fund (LAIF) 54 G. California Asset Management Program (CAMP) 54
Note 3 — Interfund Transactions 55
A. Due From/To Other Funds 55
B. Transfers 55
Note 4 — Long -Term Receivables 56
A. Loans Receivable 56
B. Leases Receivable 57
Note 5 — Capital Assets 58
(35)
702
CITY OF PLACENTIA
INDEX TO THE NOTES TO THE BASIC FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2025
Page
Note 6 — Long -Term Liabilities 60
A. Governmental Activities 60
B. Business -Type Activities 69
C. Fiduciary Activities 69
Note 7 — Deferred Compensation Plans 71
Note 8 — Pension Plans 73
A. Summary 73
B. General Information about the Pension Plans 75
C. Pension Liabilities, Pension Expenses, and Deferred
Outflows/Inflows of Resources Related to Pensions 77
D. Payable to the Pension Plan 81
Note 9 — Other Postemployment Benefit Plan 82
A. Summary 82
B. General Information about OPEB 82
C. Net OPEB Liability, OPEB Expense, and Deferred
Outflows/Inflows of Resources Related to OPEB 83
Note 10 — Risk Management and Self Insurance Program 87 A. General Liability 87
B. Workers' Compensation 87
C. Other Insurance 87
Note 11 — Classification on Fund Balances 88
Note 12 — Commitments and Contingencies 89
A. Commitments 89
B. Contingencies 89
C. Grants 89
Note 13 — Other Required Fund Disclosures 90
A. Expenditures in Excess of Appropriation 90
B. Deficit Net Positions and Fund Balances 90
(36)
703
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the City of Placentia, California, (the City) have been prepared in conformity with accounting principles generally accepted in the United States (U.S. 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 following is a summary of the City's significant policies:
A. Financial Reporting Entity
The City was incorporated on December 2, 1926, under the General Laws of the state of California. The City operates under a Council -Administrator form of government and under provisions of a City Charter adopted on June 29, 1965.
In evaluating how to define the City for financial reporting purposes, management has considered all potential component units. The primary criteria for including a potential component unit within the reporting entity are the governing body's financial accountability and a financial benefit or burden relationship and whether it is misleading to exclude. A primary government is financially accountable and shares a financial benefit or burden relationship, if it appoints a voting majority of an organization's governing body and it is able to impose its will on the organization, or if there is a potential for the organization to provide specific financial benefits to or impose specific financial burdens on the primary government. A primary government may also be financially accountable if an organization is fiscally dependent on the primary government regardless of whether the organization has a separately elected governing board, a governing board appointed by a higher level of government, or a jointly appointed board, and there is a potential for the organization to provide specific financial benefits to, or impose specific financial burdens on the primary government.
Blended Component Units
Management determined that the following entities should be reported as blended component units based on the criteria above. Although the following is legally separate from the City, it has been "blended" as though it is part of the City because the component unit's governing body is substantially the same as the City's and there is a financial benefit or burden relationship between the City and the component unit; management of the City has operational responsibilities for the component unit; and/or the component unit provides services entirely, or almost entirely, to the City or otherwise exclusively, or almost exclusively, benefits the City, even though it does not provide services directly to it.
The Placentia Public Financing Authority — The Placentia Public Financing Authority (the Authority) was formed in 1996 to issue Tax Revenue Bonds. The proceeds of the debt were used to refund the existing Mello -Roos Community Facilities District 89-1 bonds, originally issued in September 1996. The Authority is governed by a five -member board that is the City Council of the City. Separate financial statements are not prepared.
(37)
704
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) A. Financial Reporting Entity (Continued)
Blended Component Units (Continued)
Placentia Enhanced Infrastructure Financing District — The Placentia Enhanced Infrastructure Financing District (EIFD) was formed in September 2019 in partnership with the County of Orange near the City's future Metrolink Station including the Old Town Placentia area and Transit Oriented Development Packing House District. The purpose of this district is to create a funding mechanism that can facilitate the construction of public infrastructure improvements in this area.
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 by providing a separate set of self -balancing accounts that comprise its assets, deferred outflows of resources, liabilities, deferred inflows of resources, fund balance or net position, revenues and expenditures or expenses, as appropriate. City resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled.
The statement of net position reports separate sections for Deferred Outflows of Resources, and Deferred Inflows of Resources, when applicable.
Deferred Outflows of Resources — represent a consumption of net assets that applies to future periods, therefore, will not be recognized as an expense until that time.
Deferred Inflows of Resources — represent an acquisition of net assets that applies to future periods, therefore, are not recognized as revenue until that time.
Government -Wide Financial Statements
The government -wide financial statements are presented on an "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all of the City's assets, deferred outflows of resources, liabilities, and deferred inflows of resources, including capital assets, as well as infrastructure assets, and long-term liabilities, are included in the accompanying statement of net position. The statement of activities presents changes in net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred. Fiduciary activities of the City are not included in these statements.
Certain types of transactions are reported as program revenues for the City in three categories: charges for services, operating grants and contributions, and capital grants and contributions.
As a general rule, the effect of interfund activity has been eliminated from the government -wide financial statements.
(38)
705
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) B. Basis of Accounting and Measurement Focus (Continued) Governmental Fund Financial Statements
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, current liabilities, and deferred inflows of resources are included on the balance sheet. The statement of revenues, expenditures, and changes in fund balances presents increases (revenue and other financing sources) and decreases (expenditures and other financing uses) in fund balances. Under the modified 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.
Revenues are recorded when received in cash, except those revenues subject to accrual (generally 60 days after year-end) which are recognized when due. The primary revenue sources that have been treated as susceptible to accrual by the City are property taxes, intergovernmental revenues, and other taxes. Business license fees are recorded as received, except at year-end when they are accrued pursuant to the modified accrual basis of accounting. The City recognizes business license revenue collected within 60 days as revenue at June 30. 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.
The City reports the following major Governmental Funds:
General Fund
The General Fund is the City's principal operating fund. It accounts for all revenues and expenditures used to finance the traditional services associated with a municipal government except those required to be accounted for in another fund.
Citywide Development Impact Fee Special Revenue Fund
This fund is used to account for the receipts and expenditures of new development impact on the City's sewer collection system in the City's Transit.
Placentia Regional Navigation Center Special Revenue Fund This fund is used to account for the receipts and expenditures related to the construction and operation of the Placentia Regional Navigation Center. Revenues include the Homeless Emergency Aid Program (HEAP) Grant and SB2 funds. Future revenue sources will include reimbursements from the North Orange County Cities. (39)
706
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) B. Basis of Accounting and Measurement Focus (Continued) Governmental Fund Financial Statements :Continued)
Debt Service Fund
This fund is used to account for the debt service related to the governmental activities of the City.
Proprietary Fund Financial Statements
Proprietary Fund Financial Statements include a statement of net position, a statement of revenues, expenses, and changes in net position, and a statement of cash flows for each major Proprietary Fund.
A separate column representing internal service funds is also presented in these statements. However, internal service balances and activities have been combined with the governmental activities in the Government -Wide Financial Statements. The City's internal service funds include four individual funds that provide services directly to other City funds. These services include risk management, health and welfare, and equipment replacement.
Proprietary funds are accounted for using the "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all assets, deferred outflows of resources, liabilities (whether current or noncurrent), and deferred inflows of resources are included on the statement of net position. The statement of revenues, expenses, and changes in fund net position presents 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. In these funds, receivables have been recorded as revenue and provisions have been made for uncollectible amounts.
Operating revenues in the proprietary funds are those revenues that are generated from the primary operations of the fund. All other revenues are reported as nonoperating revenues. Operating expenses are those expenses that are essential to the primary operations of the fund. All other expenses are reported as nonoperating expenses.
The City reports the following major Proprietary Funds:
Refuse Fund
This fund is used to account for the provision of refuse services to the residents of the City. All activities necessary to provide such services are accounted for in this fund, including, but not limited to administration, operation, acquisition of equipment, and related debt service.
(40)
707
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) B. Basis of Accounting and Measurement Focus (Continued) Proprietary Fund Financial Statements (Continued;
Sewer Maintenance Fund
This fund is used to account for the operations and maintenance of the sewer lines located in the City's sewer system, including administration and capital improvements.
Fees are computed from water consumption amounts provided by local water companies. All residents and businesses connected to the City's sewer system are placed in billing categories based on a percentage of water consumption that is returned to the City's sewer system.
Fiduciary Fund Financial Statements
Fiduciary fund financial statements include a statement of net position and a statement of changes in fiduciary net position. The City's fiduciary funds represent custodial funds and private purpose trust funds. Both custodial funds and the private purpose trust funds are accounted for on the full accrual basis of accounting.
The City reports the following fiduciary funds:
Private -Purpose Trust Fund
This fund is used to account for the balances and transactions of the Successor Agency to the former Placentia Redevelopment Agency.
Custodial Funds
These funds account for resources held by the City in a custodial capacity as an agent for individuals, private organizations, other governments, and/or other funds.
C. Cash and Investments
The City's cash and cash equivalents are comprised of cash on hand, demand deposits, and short-term investments with original maturity of three months or less from the date of acquisition. All cash and investments of proprietary funds are held in the City's investment pool. These cash pools have the general characteristics of a demand deposit account, therefore, all cash and investments in the proprietary funds are considered cash and cash equivalents for statement of cash flows purposes.
Investments are stated at fair value (quoted market price or best available estimate thereof).
(41)
708
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) D. Fair Value Measurement
U.S. GAAP defines fair value, establishes a framework for measuring fair value, and establishes disclosures about fair value measurement. Investments, unless otherwise specified, recorded at fair value in the financial statements, are categorized based upon the level of judgment associated with the inputs used to measure their fair value.
The three levels of the fair value measurement hierarchy are described below:
Level 1 — Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date.
Level 2 — Inputs, other than quoted prices included in Level 1, that are observable for the assets or liabilities through corroboration with market data at the measurement date.
Level 3 — Unobservable inputs that reflect management's best estimate of what market participants would use in pricing the assets or liabilities at the measurement date.
E. Property Taxes Receivable
Property tax revenue is recognized in the fiscal year for which the taxes have been levied providing they become available. Available means due, or past due and receivable within the current period and collected within the current period or expected to be collected soon enough thereafter (not to exceed 60 days) to be used to pay liabilities in the current period.
Under California law, property taxes are assessed and collected by the counties at 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. The County of Orange collects property taxes for the City. Tax liens attach annually as of 12:01 a.m. on the first day of January preceding the fiscal year for which the taxes are levied. Taxes are levied on July 1 and cover the fiscal period July 1 to June 30. All secured personal property taxes and one-half of the taxes on real property are due November 1; the second installment is due February 1. All taxes are delinquent, if unpaid, on December 10 and April 10, respectively. Unsecured personal property taxes become due on March 1 each year, and are delinquent, if unpaid, on August 31.
F. Prepaid Items
Prepaid items are payments made to vendors for services that will benefit periods beyond the fiscal year ended using purchase method.
(42)
709
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) G. Inventories
Inventories within the various fund types consist of materials and supplies which are valued at cost on a weighted average basis. Reported expenditures reflect the consumption method of recognizing inventory -related expenditures.
H. Capital Assets
In the government -wide financial statements, capital assets, which include land, buildings, improvements, equipment, furniture, infrastructure (e.g., roads, sidewalks, and similar items), and right -to -use leased assets, are recorded at historical cost or estimated historical if purchased or constructed. Donated capital assets are valued at their estimated acquisition value on the date donated. City policy has set the capitalization threshold for reporting capital assets with an initial, individual cost of more than $2,500 and an estimated useful life of one year or more.
The City defines infrastructure as the basic physical assets that allow the City to function. The assets include street network, street appurtenances, and storm drains.
Major outlays for capital assets and improvements are capitalized as projects are constructed.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized.
Land, right-of-way, tree infrastructure, and construction in progress are not depreciated.
Other capital assets used in operations are depreciated/amortized over their estimated useful lives using the straight-line method. The estimated useful lives used for depreciation/amortization purposes are as follows:
Structures and Improvements
Civic Center Structures and Improvements
Automotive Equipment
Computer Equipment
Other Equipment
Infrastructure:
Roadways
Street Appurtenances
Wastewater
Storm Drains
5 to 50 Years
50 Years
2 to 10 Years
3 Years
5 Years
35 Years
10 to 50 Years
50 to 60 Years
50 Years
Lease assets and SBITAs are amortized using the straight-line method over the shorter of the agreement term or the useful life of the underlying asset. (43)
710
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) I. Leases
Lessee
The City is a lessee for noncancellable leases of land and improvements and equipment.
The City recognizes a lease liability and an intangible right -to -use asset (lease asset) in the governmental activities in the government -wide statement of net position. At the commencement of a lease, the City initially measures the lease liability at the present value of payments expected to be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The lease asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date. Subsequently, the lease asset is amortized on a straight-line basis over its useful life.
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.
Lessor
The City is a lessor for a noncancellable leases of land, buildings and improvements.
The City recognizes a lease receivable and a deferred inflow of resources in the statement of net position and in the governmental fund balance sheet. 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.
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.
J. Subscription -Based Information Technology Arrangements (SBITAs) The City recognizes a SBITA liability and a SBITA asset at the commencement of the SBITA term, unless the SBITA is a short-term contract, or it transfers ownership of the underlying asset. The SBITA liability is measured at the present value of payments expected to be made during the contract term (less any incentives). The SBITA asset is measured at the amount of the initial measurement of the SBITA liability, plus any payments made to the vendor at or before the commencement of the contract term and certain direct costs.
(44)
711
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) K. Unearned and Unavailable Revenue
In the 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 prepaid charges for services and facility rentals paid in advance.
In the fund financial statements, unearned and 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 unearned revenue for transactions for which revenues have not been earned, and unavailable revenue when funds are not available to meet current financial obligations in accordance with GASB Statement No. 65. Typical transactions for which unearned or unavailable revenue is recorded are grant receivables, grant award advances, quarterly encroachment fees, and advance registration for recreation classes which were not yet earned.
L. Compensated Absences Payable
The City recognizes a liability for compensated absences for leave time that (1) has been earned for services previously rendered by employees, (2) accumulates and is allowed to be carried over to subsequent years, and (3) is more likely than not to be used as time off or settled during or upon separation from employment. Based on the criteria listed, two types of leave qualify for liability recognition for compensated absences — vacation and sick leave. The liability for compensated absences is reported as incurred in the government -wide and proprietary fund financial statements. A liability for compensated absences is recorded in the governmental funds only if the liability has matured because of employee resignations or retirements. The liability for compensated absences includes salary -related benefits, where applicable.
Vacation
The City's policy permits employees to accumulate earned but unused vacation benefits, which are eligible for payment at the employee's current pay rate upon separation from employment.
Sick Leave
The City's policy permits employees to accumulate earned but unused sick leave. All sick leave lapses when employees leave the employ of the City and, upon separation from service, no monetary obligation exists. However, a liability for estimated value of sick leave that will be used by employees as time off is included in the liability for compensated absences.
(45)
712
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) M. Claims Payable
The City records a liability to reflect an actuarial estimate of ultimate uninsured losses for both general liability claims (including property damage claims) and workers' compensation claims. The estimated liability for workers' compensation claims and general liability claims includes "incurred but not reported" (IBNR) claims. There is no fixed payment schedule to pay these liabilities.
N. Pensions
For purposes of measuring the net pension liability, deferred outflows and inflows of resources related to pensions, and pension expense, information about the fiduciary net position and additions to/deductions from the fiduciary net position have been determined on the same basis as they are reported by the CaIPERS Financial Office and are in accordance with the implementation of GASB Statement No, 68. Investments are reported at fair value. CaIPERS audited financial statements are publicly available reports that can be obtained at CaIPERS's website under Forms and Publications.
O. Other Postemployment Benefits (OPEB)
For purposes of measuring the liability, deferred outflows of resources and deferred inflows of resources, and expense associated with the City's plan, have been determined by an independent actuary in accordance with GASB Statement No. 75.
P. Long -Term Obligations
In the government -wide financial statements, long-term debt and other long-term obligations are reported as Liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable bond premium or discount.
Q. Net Position
In the government -wide financial statements and proprietary fund financial statements, net position is classified as follows:
Net Investment in Capital Assets — This component of net position consists of capital assets, net of accumulated depreciation/amortization, related debt, and deferred outflows of resources.
Restricted — This component of net position consists of restricted assets reduced by liabilities and deferred inflows of resources related to those assets.
Unrestricted — This component of net position is the amount of the assets, deferred outflows of resources, liabilities, and deferred inflows of resources that are not included in the determination of net investment in capital assets or the restricted component of net position.
(46)
713
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) R. Fund Balances
In the governmental fund financial statements, fund balances are classified as follows:
Nonspendable Fund Balance — These amounts cannot be spent because they are not in a spendable form, such as loans receivable or inventory, or because resources legally or contractually must remain intact.
Restricted Fund Balance — These are the portion of fund balance that have externally enforceable limitations on their usage through legislation or limitations imposed by creditors, grantor, laws, and regulations of other governments or enabling legislation.
Committed Fund Balance — These have self-imposed limitations by the highest level of decision -making authority, namely the City Council, prior to the end of the reporting period. City Council adoption of a resolution is required to commit resources or to rescind the commitment.
Assigned Fund Balance — These have limitations imposed by management based on the intended use of the funds. Modifications or rescissions of the constraints can be removed by the same type of action that limited the use of the funds. Assignment of resources can be done by the highest level of decision making or by a committee or official designated for that purpose. The City Council has authorized the Finance Director for that purpose.
Unassigned Fund Balance — These represent the residual net resources in excess of the other classifications. The general fund is the only fund that reports a positive unassigned fund balance amount. In other governmental funds, it is not appropriate to report a positive unassigned fund balance amount. However, in governmental funds other than general fund, if expenditures incurred for specific purposes exceed the amounts that are restricted, committed, or assigned to those purposes, it may be necessary to report a negative unassigned fund balance in that fund.
S. Spending Policy
Government -Wide Financial Statements and the Proprietary Fund Financial Statements When expenses are incurred for purposes for which both restricted and unrestricted components of net position are available, the City's policy is to apply the restricted component of net position first, then the unrestricted component of net position as needed.
Governmental Fund Financial Statements
When expenditures are incurred for purposes for which both restricted and unrestricted fund balances are available, the City's policy is to apply restricted fund balances first, then unrestricted fund balances as needed.
(47)
714
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) S. Spending Policy (Continued)
Governmental Fund Financial Statements (Continued)
When expenditures are incurred for purposes where only unrestricted fund balances are available, the City uses the unrestricted resources in the following order, except for instances wherein an ordinance specifies the fund balance:
• Committed
• Assigned
• Unassigned
T. Use of Estimates
The preparation of the basic financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
NOTE 2 CASH AND INVESTMENTS
The City maintains a cash and investment pool, which includes cash balances and authorized investments of all funds. Certain restricted funds which are held and invested by independent outside custodians through contractual agreements are not pooled. These restricted funds include cash and investments with fiscal agents.
The City had the following cash and investments at June 30, 2025:
Government -Wide
Statement of Net Position
Governmental Business -Type
Activities Activities
Statement of
Fiduciary
Net Position
Total
Cash and Investments $ 27,606,553 $ 4,584,263 $ 1,314,399 $ 33,505,215 Cash and Investments with
Fiscal Agent 4,603,703 730,018 5,333,721
Pension Stability Fund 1,334,070 - 1,334,070
Total Cash and Investments $ 33,544,326 $ 4,584,263 $ 2,044,417 $ 40,173,006 (48)
715
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 2 CASH AND INVESTMENTS (CONTINUED)
The City's cash and investments at June 30, 2025 in more detail:
Cash and Cash Equivalents:
Demand Deposits
Petty Cash
Total Cash and Cash Equivalents
Investments:
Local Agency Investment Fund
CAMP
Money Market Mutual Fund
Negotiable Certificates of Deposit
U.S. Treasury Securities
Federal Agency Securities
Investments with Fiscal Agent:
Money Market Mutual Fund
Pension Stability Fund
Total Investments
$ 3,034,266
17,565
3,051,831
17,551
10,237,367
60,744
5,104,788
11,552,081
3,480,852
5,333,721
1,334,071
37,121,175
Total Cash and Investments $ 40,173,006
A. Demand Deposits
The carrying amounts of the City's demand deposits were $3,034,266 at June 30, 2025.
Bank balances at that date were $3,527,785, the total amount of which was insured or collateralized with accounts held by the pledging financial institutions in the City's name as discussed below.
The California Government Code requires California banks and savings and loan associations to secure the City's cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest in such collateral superior to those of a general creditor. Thus, collateral for cash deposits is considered to be held in the City's name.
The market value of pledged securities must equal at least 110% of the City's cash deposits. California law also allows institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the City's total cash deposits. The City may waive collateral requirements for cash deposits, which are fully insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC). The City, however, has not waived the collateralization requirements.
The City follows the practice of pooling cash and investments of all funds, except for funds required to be held by fiscal agents under the provisions of bond indentures.
Interest income earned on pooled cash and investments is allocated on an accounting period basis to the various funds based on the period -end cash and investment balances. Interest income from cash and investments with fiscal agents is credited directly to the related fund.
(49)
716
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 2 CASH AND INVESTMENTS (CONTINUED)
B. Investments Authorized by the California Government Code and the City's Investment Policy
The table below identifies the investment types that are authorized by the City's investment policy and the California Government Code. The table also identifies certain provisions of the California Government Code (or the City's investment policy, if more restrictive) that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustee that are governed by the provisions of debt agreements of the City, rather than the general provisions of the California Government Code or the City's investment policy.
Authorized Investment Tyoe
United States (U.S.) Treasury Obligation
Federal Agency Securities
Negotiable Certificates of Deposits
Non -Negotiable Certificates of Deposit
Money Market Funds
Passbook Savings
Commercial Paper
Banker's Acceptances
Local Agency Investment Fund (LAIF)
Orange County Investment Pool
Joint Powers Authority Pools (JPA)
California Asset Management Program
Repurchase Agreements
Maximum
Maturity
5 Years
5 Years
5 Years
5 Years
N/A
N/A
270 Days
180 Days
N/A
N/A
N/A
N/A
1 Year
Maximum
Percentage of
Portfolio
None
30%
30%
40%
20%
None
25%
30%
None
None
None
None
30%
Maximum
Investment
in One
Issuer
None
15%
$250,000
$250,000
10%
None
10%
30%
None
None
None
None
None
* The table is based on state law requirements or investment policy requirements, whichever is more restrictive.
C. Investments Authorized by Debt Agreements
Authorized Investment Type
United States (U.S.) Treasury Obligation
Federal Agency Securities
Negotiable Certificates of Deposits
Non -Negotiable Certificates of Deposit
Money Market Funds
Passbook Savings
Commercial Paper
Banker's Acceptances
Local Agency Investment Fund (LAIF)
Orange County Investment Pool
Maximum
Maturity
N/A
N/A
N/A
N/A
N/A
N/A
270 Days
180 Days
N/A
N/A
Maximum
Percentage of
Portfolio
None
None
None
None
None
None
None
None
None
None
Maximum
Investment
in One
Issuer
None
None
None
None
None
None
None
None
None
None
(50)
717
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 2 CASH AND INVESTMENTS (CONTINUED)
C. Investments Authorized by Debt Agreements (Continued) Investments of debt proceeds held by bond trustee are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the City's investment policy. The table below identifies the investment types that are authorized for investments held by bond trustee. The table also identifies certain provisions of these debt agreements that address interest rate risk, and concentration of credit risk.
D. Fair Value Measurement
At June 30, 2025, investments are reported at fair value. The following table presents the fair value measurement of investments on a recurring basis and the levels within the GASB 72 fair value hierarchy in which the fair value measurements fall at June 30, 2025:
Measurement Input
Investment Type
Local Agency Investment Fund
California Asset Management Program
Money Market Mutual Funds
Negotiable Certificates of Deposit (1)
U.S. Treasury Securities (1)
Federal Agency Securities (1)
Held by Fiscal Agent:
Money Market Mutual Funds
Pension Stability Fund
Total
Significant Other
Observable Input
(Level 2) Uncategorized Total
5,104, 788
11,552,081
3,480,852
$ 17,551
10,237,367
60,744
5,333,721
1,334,071
$ 17,551
10,237,367
60,744
5,104, 788
11,552,081
3,480,852
5,333,721
1,334,071
$ 20,137,721 $ 16,983,454 $ 37,121,175
(1) Pricing based on institutional bond quotes - evaluations based on various market and industry inputs.
Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment is, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer -term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations. (51)
718
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 2 CASH AND INVESTMENTS (CONTINUED)
E. Risk Disclosures
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:
Investment Maturities (in Years)
Investment Type
Local Agency Investment
Fund
California Asset Management
Program
Money Market Mutual Funds
Negotiable Certificates of
Deposit
U.S. Treasury Securities
Federal Agency Securities
Held by Fiscal Agent:
Money Market Mutual Funds
Pension Stability Fund
Total
Fair Value Less than 1 1 to 2 2 to 3 3 to 4
$ 17,551 $ 17,551 $
10, 237, 367 10, 237, 367
60,744 60,744
5,104, 788
11,552,081
3,480,852
1,476,168
488,760
477,735
4,475,556
742,627
$
1,459, 296
3,009,255
2,249,465
5,333,721 5,333,721 - -
1,334,071 1,334,071 - -
$ 37,121,175 $ 18,948,382 $ 5,695,918 $ 6,718,016 $ 4,744,719 $ 1,014,140 4 to 5
$ - $
1,691,589
3,053,130 1,014,140
Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating required by (where applicable) the California Government Code or the City's investment policy, or debt agreements, and the actual rating as of fiscal year-end for each investment type.
Minimum
Legal Not
Investment Type Total Rating AAA Rated
Local Agency Investment Fund $ 17,551 N/A $ $ 17,551
California Asset Management Program 10,237,367 N/A 10,237,367 Money Market Mutual Funds 60,744 AAA 60,744 -
Negotiable Certificates of Deposit 5,104,788 N/A - 5,104,788 U.S. Treasury Securities 11,552,081 N/A 11,552,081
Federal Agency Securities 3,480,852 N/A 3,480,852 -
Held by Fiscal Agent:
Money Market Mutual Funds 5,333,721 AAA 5,333,721 -
Pension Stability Fund 1,334,071 N/A 1,334,071
Total $ 37,121,175 $ 20,427,398 $ 16,693,777
(52)
719
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 2 CASH AND INVESTMENTS (CONTINUED)
E. Risk Disclosures (Continued)
Concentration of Credit Risk
The investment policy of the City contains no limitations on the amount that can be invested in any one issuer beyond that stipulated by the California Government Code.
The City has no investments in any one issuer (other than mutual funds and external investment pools) that represent 5% or more of total City investments.
Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that in the event of the failure of the counterparty (e.g., broker dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code and the City's investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the provision for deposits as disclosed in Note 2A.
For investments identified herein as held by bond trustee, the bond trustee selects the investment under the terms of the applicable trust agreement, acquires the investment, and holds the investment on behalf of the reporting government. At June 30, 2025, the investments held by bond trustee were held in money market mutual funds, which are considered to be cash equivalents.
F. Investment in Local Agency Investment Fund (LAIF)
The City is a participant in LAIF, which is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the state of California. The City's investments with LAIF at June 30, 2025, included a portion of the pool funds invested in Structured Notes and Asset -Backed Securities, which included the following:
Structured Notes — 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 that have embedded forwards or options.
Asset -Backed Securities — Generally, mortgage -backed securities that 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 (for example, collateralized mortgage obligations), or credit card receivables. (53)
720
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 2 CASH AND INVESTMENTS (CONTINUED)
F. Investment in Local Agency Investment Fund (LAIF) (Continued) As of June 30, 2025, the City had $17,551 invested in LAIF, which had invested 1.10% of the pool investment funds in structured notes and asset -backed securities. The fair value of the City's portion in the pool is the same as the value of the pool shares and reported at amortized cost.
G. California Asset Management Program (CAMP)
The City invests in this investment trust, California Asset Management Program (CAMP), which is similar to a money market mutual fund. The fund invests primarily in certificates of deposit, commercial paper, and U.S. Government and Agency obligations. The City is a voluntary participant in the investment trust.
The CAMP Cash Reserve Portfolio (the Pool) is exempt from registration with the Securities and Exchange Commission (SEC) under the Investment Company Act of 1940 but operates in a manner consistent with SEC Rule 2a-7, "Money Market Funds," of that Act. Accordingly, the Pool meets the definition of a "2a-7 like pool" set forth in GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools. While the Pool itself is exempt from SEC registration, the Pool's investment advisor and administrator, PFM Asset Management LLC, is registered with the SEC as an investment advisor under the Investment Advisers Act of 1940. PFM Asset Management LLC has filed with the California Department of Corporations, as well as various other states, as an investment advisor under state securities laws.
In addition, the Pool also meets the definition of "Municipal Fund Security" outlined by Municipal Securities Rulemaking Board (MSRB) Rule 0-12; therefore, contacts with prospective investors relating to shares of the Pool are conducted through PFM Asset Management LLC's wholly owned subsidiary, PFMAM, Inc., a broker/dealer that is registered with the SEC and MSRB and is a member of the National Association of Securities Dealers. The Pool also files an income tax return annually with the Internal Revenue Service, though the net income of the Pool is generally exempt from federal income tax.
(54)
721
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 3 INTERFUND TRANSACTIONS
A. Due From/To Other Funds
At June 30, 2025, the City had the following due from/to other funds:
Due From
Other Funds
Due To Other Funds
Placentia Regional Navigation Center
Nonmajor Special Revenue Funds:
Miscellaneous Grants
Landscape Maintenance District 92-1
Housing and Community Development
Gasoline Tax
Sewer Construction
Nonmajor Capital Projects Funds:
City Projects
Total
General Fund Total
$ 210,900 $ 210,900
186,753 186,753
11,720 11,720
646,457 646,457
22,891 22,891
124,149 124,149
147,733 147,733
$ 1,350,603 $ 1,350,603
The above amounts resulted from when one fund reflects a deficit in its pooled cash account. Short-term loans were made from the General Fund to address these deficits.
B. Transfers
During the year ended June 30, 2025, the City had the following transfers:
Transfers Out
Transfers In
Governmental Funds:
General Fund
Debt Service Fund
Nonmajor Governmental Funds
Total Governmental Funds
General
Fund
4,483,922
69,855
S 4,553,777
Debt Service
Fund
$ 3,367,020
Nonmajor
Governmental
Funds
Total
$ 194,663 $ 3,561,683
4,483,922
404,317 474,172
3,367,020 S 598,980
8,519,777
In general, transfers are used to 1) use revenues collected in one fund to finance various programs accounted for in other funds in accordance with budgetary authorizations, and 2) to transfer to the General Fund to fund administration services. Some of the more significant transfers are detailed below.
Transfers from the Debt Service Fund to the General Fund of $3,367,020 were for the construction of assets funded by the issuance of bonds.
Transfers from nonmajor governmental funds to the General Fund of $194,663 were to fund police department expenditures.
(55)
722
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 3 INTERFUND TRANSACTIONS (CONTINUED)
B. Transfers (Continued)
The General Fund transferred $69,855 to nonmajor funds as operating subsidies and $4,483,922 to the Debt Service Fund to fund debt service.
The Gas Tax Special Revenue Fund transferred $404,317 to the Gas Tax Debt Service Fund to fund the 2011 Gas Tax Certificate of Participation debt service.
NOTE 4 LONG-TERM RECEIVABLES
A. Loans Receivable
At June 30, 2025, the City has the following loans receivable:
Certificates of Participation
Reimbursement
Owner's Participation Agreement
Placentia Veterans Village Loan
Placentia Veterans Village DIF
Mitigation Loan
Total
Citywide
Development
Impact Fee Other
General Special Governmental
Fund Revenue Fund Funds
Total
$ 786,121 $ $ - $ 786,121
27,916 27,916
500,000 500,000
509,148 70,916 580,064
$ 786,121 $ 509,148 $ 598,832 $ 1,894,101
Certificates of Participation Reimbursement
On April 16, 2007, the City Council of the City of Placentia and the Board of Directors of the former Placentia Redevelopment Agency approved a reimbursement agreement between the City and the former Placentia Redevelopment Agency. This agreement provides that the former Placentia Redevelopment Agency will reimburse the City for a portion of the lease payment paid by the City to the bond trustee, with respect to the 2003 Certificates of Participation (COP). The 2003 COP were refinance with the 2022 COP during the year (see Note 7).
The portion reimbursed (87.52%) is based upon the portion of the capital improvements and improved facilities benefiting from the original proceeds of the 2003 COP related debt issue that were within the confines of the development project area. (56)
723
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 4 LONG-TERM RECEIVABLES (CONTINUED)
A. Loans Receivable (Continued)
Owner's Participation Agreement
The Placentia Redevelopment Agency entered into an owner participation agreement dated January 5, 2001. Pursuant to that agreement, the Agency loaned $150,000 to a small business in Placentia. The term of the loan is 30 years and does not bear interest, except upon default. The loan was recorded in the Low and Moderate Housing fund of the former Redevelopment Agency of Placentia. Upon dissolution of the Redevelopment Agency at February 1, 2012, the outstanding loan receivable balance was transferred to the Housing Successor Fund. During the current fiscal year, the City received $5,833 in principal payments. The ending loan receivable balance at June 30, 2025 is $27,916.
Placentia Veterans Village Loan Receivable
On November 13, 2018, the City Council of the Housing Successor Agency to the former Redevelopment Agency of the City of Placentia approved a loan agreement of $500,000 between the Housing Successor Agency and Mercy Housing California to initiate construction of the Placentia Veterans Village. The loan receivable balance at June 30, 2025 is $500,000.
Placentia Veterans Village Developer Impact Fee Mitigation Loan Receivable On February 20, 2018, the City Council of the Housing Successor Agency to the former Redevelopment Agency of the City of Placentia approved a loan agreement between the Housing Successor Agency and Mercy Housing California whereby the collection of up to $582,850 of developer impact fees would be deferred. The loan shall be payable from fifty percent (50%) of the residual receipts of the housing project (to be shared pro -rata with other housing project lenders whose loans are payable from residual receipts), until the loan has been paid in full. The loan receivable balance at June 30, 2025 is $580,064.
B. Leases Receivables
The City, acting as lessor, leases land and improvements under eleven long-term, noncancellable lease agreements. The leases expire at various dates through July 1, 2065. The net present values of the leases receivable were determined using discount rates ranging from 0.218% to 2.184%. Rent payments ranging from $271 to $3,543, are received monthly, or ranging from $50,000 to $250,000, received annually. During the year ended June 30, 2025, the City recognized $578,042 and $310,698 in lease revenue and interest revenue, respectively, pursuant to these lease agreements.
The leases provide for increases in future minimum monthly rent payments, subject to certain stated increases.
(57)
724
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 5 CAPITAL ASSETS
The following is a summary of changes in capital assets for the governmental activities for the year ended June 30, 2025:
Balance Balance
June 30, 2024 Additions Deletions Reclassifications June 30, 2025 Capital Assets Not Being
Depreciated/Amortized:
Land
Land -Right of Way
Infrastructure - Trees
Construction in Progress
Total Capital Assets Not
Being Depreciated
Capital Assets Being
Depreciated/Amortized:
Structures and Improvements
Right -to -Use Lease Land
Right -to -Use Lease Equipment
Subscription Assets
Equipment
Land Improvements
Infrastructure:
Streets Network
Street Appurtenances
Storm Drains
Total Capital Assets
Being Depreciated/Amortized
Less: Accumulated
Depreciation/Amortization for:
Structures and Improvements
Right -to -Use Lease Land
Right -to -Use Lease Equipment
Subscription Assets
Equipment
Land Improvements
Infrastructure:
Streets Network
Street Appurtenances
Storm Drain
Total Accumulated
Depreciation/Amortization
Total Capital Assets Being
Depreciated/Amortized, Net
Total Governmental
Activities
$ 26,118,971 $ - $ - $ - $ 26,118,971
1,008,822 - 1,008,822
3,196,564 - - 3,196,564
26,554,604 11,389,948 (1,062,059) (1,962,002) 34,920,491 56,878,961 11,389,948 (1,062,059) (1,962,002) 65,244,848 26,163,367 - 283,995 26,447,362
684,909 - (684,909) -
1,263,360 211,697 (233,956) 1,241,101
2,918,849 428,836 (127,406) 3,220,279
18,535,058 874,498 (76,717) 19,332,839
172,528 - - 172,528
71,111,938
25,061,943
9,412,120
155,324,072 1,515,031
(9,339,598) (973,381)
(456,606)
(504,617) (285,779)
(777,253) (462,348)
(11,966,722) (1,738,991)
(135,148) (5,796)
(29,890,553) (1,849,192)
(16,463,799) (535,610)
(7,238,144) (188,242)
(76,772,440) 6,039,339)
(1,122,988)
456,606
233,956
127,406
76,764
894,732
958,852
719,155
72,070,790
25,781,098
9,412,120
1,962,002 157,678,117
(10,312,979)
(556,440)
(1,112,195)
(13,628,949)
(140,944)
(31,739,745)
(16,999,409)
7,4( 26,386)
81,917,047)
78,551,632 (4,524,308) (228,256) 1,962,002 75,761,070
$ 135,430,593 $ 6,865,640 $ (1,290,315) $ $ 141,005,918 (58)
725
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 5 CAPITAL ASSETS (CONTINUED)
Depreciation/amortization expense was charged to functions/programs of governmental activities for the year ended June 30, 2025, as follows:
General Government
Public Safety
Public Works
Community Services
Total Depreciation/Amortization Expense
$ 1,200,162
1,522,736
2,750,188
562,424
$ 6,039,339
The following is a summary of changes in capital assets for the business -type activities for the year ended June 30, 2025:
Capital Assets Being
Depreciated:
Structures and
Improvements
Equipment
Total Capital Assets
Being Depreciated
Less: Accumulated
Depreciation for:
Structures and
Improvements
Equipment
Total Accumulated
Depreciation
Balance Balance
June 30, 2024 Additions Deletions June 30, 2025
$ 34,095,676 $
122,158
$ - $ 34,095,676
- 122,158
34,217,834 34,217,834
(21,655,244)
(91,971)
(623,095)
(11,951)
(22,278,339)
(103,922)
(21,747,215) (635,046) (22,382,261)
Total Capital Assets
Being Depreciated, Net 12,470,619
Total Business -Type
Activities
(635,046) 11,835,573
$ 12,470,619 $ (635,046) $ - $ 11,835,573
Depreciation expense was charged to the Sewer Maintenance Fund within business -type activities.
(59)
726
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6 LONG-TERM LIABILITIES
A. Governmental Activities
A summary of changes in long-term liabilities for governmental activities for the year ended June 30, 2025 is as follows:
Classification
Balance Balance Due within Due in More
June 30, 2024 Additions Deletions June 30, 2025 One Year Than One Year Long -Term Debt:
Direct Borrowings and
Placements:
Loan Payable- Radio
Loan Payable -Fire #1
Loan Payable -Fire #2
Loan Payable - Easement
Loan Payable - Vehicles
OCTA Advance
Fire UAL Payoff Loan
Motorola Equipment
Loan Payable -Ref 2003
COP
2021 Installment Sale
Agreement (2011 Gas
Tax Refunding)
Total Direct Borrowings
and Placements
2020A Lease Revenue
Bonds
2023 Lease Revenue
Bonds
Unamortized Bond Premium
Leases Payable
Subscription Liability
Total Long -Term Debt
Claims Payable
Compensated Absences (a)
Total Long -Term
Liabilities
$ 362,479 $
2,096,314
1,098,741
222,672
96,530
714,982
344,932
1,197,159
$ (157,967) $ 204,512 $ 162,969 $ 41,543
(358,596) 1,737,718 368,307 1,369,411
(188,123) 910,618 193,141 717,477
(65,406) 157,266 69,367 87,899
(30,048) 66,482 32,129 34,353
(460,399) 254,583 254,583 -
(344,932) - - -
(96,476) 1,100,683 101,020 999,663
1,331,266 (433,047) 898,219 443,986 454,233
2,293,000 - (368,000) 1,925,000 373,000 1,552,000
9,758,075 - (2,502,994) 7,255,081 1,998,502 5,256,579
48,530,000 (2,190,000) 46,340,000 2,405,000 43,935,000
9,190,000 (140,000) 9,050,000 145,000 8,905,000
352,179 - (11,739) 340,440 - 340,440
998,122 200,615 (517,242) 681,495 242,494 439,001
1,859,215 273,967 (353,660) 1,779,522 395,369 1,384,153 70,687,591 474,582 (5,715,635) 65,446,538 5,186,365 60,260,173 3,820,916 4,967,976 (1,587,053) 7,201,839 1,800,460 5,401,379 2,928,780 (419,909) 2,508,871 935,475 1,573,396
$ 77,437,287 $ 5,442,558 $ (7,722,597) $ 75,157,248 $ 7,922,300 $ 67,234,948 (a) Deletions to compensated absences are presented net of additions, as allowed by GASB Statement No. 101, Compensated Absences.
Loan Payable — Refunding of 2003 Certificates of Participation On June 1, 2022, the City entered into a loan payable agreement in the amount of $2,189,027 with the Municipal Finance Corporation to (a) refinance certain obligations relating to the 2003 Refunding and Improvements Project Certificates of Participation Principal is payable annually on January 1. Interest is payable semi-annually on January 1 and July 1, commencing January 1, 2023.
(60)
727
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6 LONG-TERM LIABILITIES (CONTINUED)
A. Governmental Activities (Continued)
Loan Payable — Refunding of 2003 Certificates of Participation (Continued) On April 17, 2007, the City Council of the City of Placentia and the Board of Directors of the former Placentia Redevelopment Agency approved a reimbursement agreement between the City and the Placentia Redevelopment Agency. This agreement provides that the former Placentia Redevelopment Agency will reimburse the City for a portion of the lease payment paid by the city to the Bond trustee. The portion reimbursed is based upon the portion of the capital improvements and improved facilities benefiting from the original proceeds of the related debt issue that were within the confines of the redevelopment project area.
The loan payable is the obligation of the City and is reported in full in the government - wide statement of net position, within the governmental activities. A portion of the 2003 Certificates of Participation, which constitutes 87.52% of the total obligation amount, is to be repaid by the former Placentia Redevelopment Agency, pursuant to the reimbursement agreement mentioned above. As such, an amount reflecting the total obligation is reported on the statement of fiduciary net position within the RDA Successor Agency Private -Purpose Trust Fund. A note receivable is reported in the General Fund, relating to the total obligation that the city is expected to have reimbursement by the former Placentia Redevelopment Agency (see Note 4 for additional details). The outstanding balance of the 2022 Certificates of Participation as of June 30, 2025 is $898,219.
The final payment on this refinancing will be January 1, 2027 and may be prepaid in whole or in part on any payment date beginning on July 1, 2025.
The annual debt service requirements are as follows:
Year Ending June 30,
2026
2027
Total
Principal Interest Total
$ 443,986 $ 21,108 $ 465,094
454,233 10,674 464,907
$ 898,219 $ 31,782 $ 930,001
2020 Lease Revenue Bonds
On November 12, 2020, the City issued the 2020A Lease Revenue Bonds through the Placentia Public Financing Authority to pay the City's currently unamortized, unfunded accrued actuarial liability to CaIPERS for the benefit of City employees, to fund certain anticipated increases to the accrued liability to CaIPERS, to fund a reserve account for the bonds and to pay the costs incurred in connection with the issuance of the bonds.
The bonds are issued in denominations or $5,000 and bear interest ranging from 1.7% to 4.0%. Interest on the bonds will be paid semi-annually on June 1 and December 1 of each year, commencing June 1, 2021.
(61)
728
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6 LONG-TERM LIABILITIES (CONTINUED)
A. Governmental Activities (Continued)
2020 Lease Revenue Bonds (Continued;
The bonds are secured under an indenture as of November 1, 2020, by the authority and US Bank as trustee. The bonds are payable from the revenues pledged under the indenture. Under the indenture, the revenues are defined as base rental payment made by the City to the Authority as the rental for real property and improvements thereon.
The City is required under the lease agreement to pay to the Authority specified amounts for use and possession of the leased property which amounts are calculated to be sufficient in both time and amount to pay, when due, the principal of and interest on the Bonds. Except for the Authority's right, title, and interest in and to the base rental payments and otherwise to the lease agreement which have been assigned to the trustee, no funds or properties of the Authority or the City are pledged to or otherwise liable for the bonds or any other obligations of the Authority.
The bonds are being issued to fund 100% of the City's unfunded liability for the miscellaneous plan and safety plan. Upon the issuance of the bonds, the city paid $43,777,218 to CaIPERS for deposit to the CaIPERS payment fund. This amount represents the June 30, 2019, unfunded liability for the miscellaneous and safety plans shown in the 2019 CaIPERS reports, rolled forward to November 12, 2020, and taking into account payments made during the fiscal years 2020 and 2021.
The bonds maturing on or after June 1, 2031 are subject to optional redemption prior to maturity on or after June 1, 2030, at the option of the City, in whole or in part, on any date, at a redemption price equal to the principal amount of the bonds to be redeemed, plus accrued but unpaid interest to the redemption date, without premium. The bonds maturing on June 1, 2035 and June 1, 2045 are subject to mandatory redemption on June 1 in each year until maturity, from mandatory sinking account payments made by the Authority, at a redemption price equal to the principal amount thereof to be redeemed together with accrued interest thereon to the redemption date, without premium, provided however, that in lieu of redemption thereof, such term bonds may be purchased by the Authority and tendered to the trustee.
The bonds are reported in full in the government -wide statement of net position, within the governmental activities. The outstanding balance of the 2020A Lease Revenue Bonds as of June 30, 2025 is $46,340,000. The annual debt service requirements are as follows:
Year Endinc June 30, Principal Interest Total
2026
2027
2028
2029
2030
2031-2035
2036-2040
2041-2045
Total
$ 2,405,000
2,475,000
2,555,000
2,645,000
2,740,000
15, 365, 000
12,845,000
5,310,000
$ 46,340,000
(62)
$ 1,878,036
1,806,944
1,727,596
1,639,270
1,544,129
6,057,396
2,750,203
585,681
$ 17,989,255 $ 64,329,255
$ 4,283,036
4,281,944
4,282,596
4,284,270
4,284,129
21,422,396
15,595,203
5,895,681
729
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6 LONG-TERM LIABILITIES (CONTINUED)
A. Governmental Activities (Continued)
2023 Lease Revenue Bonds
On August 2, 2023, the Placentia Public Financing Authority issued the 2023A Lease Revenue Bonds in the amount of $9,190,000, to finance the construction and equipping of an approximately 18,805 square foot public safety center and to pay the costs incurred in connection with the bond issuance. The term bonds with maturities ranging from October 1, 2033 through October 1, 2053, bear interest ranging from 4.25% to
5.0%. The bonds are subject to mandatory redemption on October 1 in each year in accordance with a set schedule. Interest on the bonds will be paid semi-annually on April 1 and October 1 of each year, commencing April 1, 2024.
The bonds are reported in full in the government -wide statement of net position, within the governmental activities. The outstanding balance of the 2023 Lease Revenue Bonds as of June 30, 2025 is $9,050,000. The annual debt service requirements are as follows:
Year Ending June 30, Principal Interest Total
2026
2027
2028
2029
2030
2031-2035
2036-2040
2041-2045
2046-2050
2051-2054
Total
$ 145,000 $ 414,675 $ 559,675
155,000 407,175 562,175
160,000 399,300 559,300
170,000 391,050 561,050
180,000 382,300 562,300
1,030,000 1,765,750 2,795,750
1,325,000 1,472,375 2,797,375
1,700,000 1,097,656 2,797,656
2,125,000 671,181 2,796,181
2,060,000 179,988 2,239,988
$ 9,050,000 $ 7,181,450 $ 16,231,450
Bond premiums are amortized over the life of the bonds. Bonds payable are reported net of the applicable bond premium or discount.
2021 Installment Sale Agreement
On March 1, 2021, the City entered into an installment sale agreement with Trust Bank to refund all outstanding 2011 Gas Tax Certificates of Participation and to pay the costs of issuance in connection with such refunding. The agreement constitutes the legal and valid binding agreement of the City enforceable against the City. The installment payment, in the aggregate, are $3,656,000 and include interest components, calculated at the rate of 1.65%, on the unpaid principal payable on the respective installment payment date. On the closing date, the City used the proceeds to pay (1) the amount of $3,531,754 to the escrow fund and $124,246 to the custodial account used to pay all costs of issuance related to the installment agreement. (63)
730
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6 LONG-TERM LIABILITIES (CONTINUED)
A. Governmental Activities (Continued)
2021 Installment Sale Agreement (Continued)
The City's obligation to pay the installment payments is a special obligation of the City limited solely to the Gas Tax revenues and all amounts on deposit in the Gas Tax Fund.
Under no circumstances is the City required to advance moneys derived from any source of income other than the Gas Tax revenues and other sources specifically identified in the agreement. The City has the option to prepay the principal components of the installment payments in whole, on any date, commencing on December 1, 2025.
The bonds are reported in full in the government -wide statement of net position, within the governmental activities. The outstanding balance of the 2021 Installment Sale Agreement as of June 30, 2025 is $1,925,000.
The annual debt service requirements are as follows:
Year Endinc June 30, Principal Interest Total
2026
2027
2028
2029
2030
Total
$ 373,000 $ 30,220 $ 403,220
377,000 24,049 401,049
387,000 17,795 404,795
392,000 11,385 403,385
396,000 4,900 400,900
$ 1,925,000 $ 88,349 $ 2,013,349
Loans Payable
800 MHz CCCS Public Safety Radio Upgrade
On October 1, 2016, the City entered into a Purchase Agreement to finance the acquisition and implementation of Citywide public safety radios and dispatch site with the Orange County 800MHz Countywide Coordinated Communications System (CCCS).
The assets acquired through the financing agreement were included in the machinery and equipment for governmental activities in the amount of $1,319,360. The loan is for a period of 10 years with an interest rate of 3.13%. Loan payments are payable quarterly in arrears of the period to which they relate to. The agreement contains a provision that in an event of default, the lender may choose to make all outstanding amounts due immediately or may repossess the equipment. The annual debt service requirements are as follows:
Year Endinc June 30,
2026
2027
Total
Principal Interest Total
$ 162,969 $ 4,501 $ 167,470
41,543 325 41,868
$ 204,512 $ 4,826 $ 209,338
(64)
731
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6 LONG-TERM LIABILITIES (CONTINUED)
A. Governmental Activities (Continued)
Loans Payable ;Continued)
Fire Loan Payable #1
On August 27, 2019, the City entered into an agreement for financing the acquisition of fire trucks and equipment for the Placentia Fire and Life Safety Department. The assets acquired through the financing agreement were included in the machinery and equipment for governmental activities in the amount of $3,400,000. The loan is for a period of 10 years with an interest rate of 2.69%. Loan payments are payable on February 1 and August 1, commencing August 1, 2020. The title to the purchased equipment is in the name of the City. The agreement contains a provision that in an event of default, the lender may choose to make all outstanding amounts due immediately or may repossess the fire trucks. The annual debt service requirements are as follows:
Year Endinc June 30,
2026
2027
2028
2029
2030
Total
Principal Interest Total
$ 368,307 $ 44,284 $ 412,591
378,281 34,310 412,591
388,525 24,066 412,591
399,047 13,544 412,591
203,558 2,738 206,296
$ 1,737,718 $ 118,942 $ 1,856,660
Fire Loan Payable #2
On November 25, 2019, the City entered into an agreement for financing the acquisition of fire trucks and equipment for the Placentia Fire and Life Safety Department. The assets acquired through the financing agreement were included in the machinery and equipment for governmental activities in the amount of $1,795,000. The loan is for a period of 10 years with an interest rate of 2.65%. Loan payments are payable on February 1 and August 1, commencing August 1, 2020. The title to the purchased equipment is in the name of the City. The agreement contains a provision that in an event of default, the lender may choose to make all outstanding amounts due immediately or may repossess the fire trucks. The annual debt service requirements are as follows:
Year Endinc June 30,
2026
2027
2028
2029
2030
Total
Principal Interest Total
$ 193,141 $ 22,860 $ 216,001
198,293 17,708 216,001
203,583 12,419 216,002
209,013 6,988 216,001
106,588 1,412 108,000
$ 910,618 $ 61,387 $ 972,005
(65)
732
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6 LONG-TERM LIABILITIES (CONTINUED)
A. Governmental Activities (Continued)
Loans Payable ;Continued)
Land Easement Loan
On July 18, 2018, the City entered into an agreement for financing a portion of the acquisition of a land easement. The asset acquired through the financing arrangement is included in the land right-of-way in the amount of $750,000. The loan is for a period of 10 years with an interest rate of 6.00%. Annual loan payments of $78,803 are payable on August 1, through August 1, 2027. The outstanding principal as of June 30, 2025 is $157,266. The annual debt service requirements are as follows:
Year Ending June 30, Principal Interest Total
2026
2027
2028
Total
$ 69,367 $ 9,436 $ 78,803
73,530 5,273 78,803
14,369 862 15,231
$ 157,266 $ 15,571 $ 172,837
Vehicles Loan
On July 19, 2018, the City entered into an agreement for financing the acquisition of electric vehicles. The assets acquired through the financing agreement were included in the machinery and equipment for governmental activities in the amount of $160,470. The loan is for a period of 5 years with an interest rate of 6.93%. Annual loan payments of $36,734 are payable on March 1, through March 1, 2027. The agreement contains a provision that in an event of default, the lender may choose to repossess the vehicles.
The outstanding principal as of June 30, 2025 is $66,482.
The annual debt service requirements are as follows:
Year Ending June 30, Principal Interest Total
2026
2027
Total
$ 32,129 $ 4,605 $ 36,734
34,353 2,380 36,733
$ 66,482 $ 6,985 $ 73,467
Motorola Equipment Loan
On September 15, 2023, the City entered into an agreement for financing the acquisition of equipment. The assets acquired through the financing agreement were included construction in progress for governmental activities in the amount of $1,197,159, as the equipment has not yet been put into use. The loan is for a period of 10 years with an interest rate of 4.71 %. Annual loan payments of $152,862 are payable on September 15, through September 15, 2033. The agreement contains a provision that in an event of default, the lender may choose to make all outstanding amounts due immediately or may repossess the equipment. The outstanding principal as of June 30, 2025 is $1,100,683. (66)
733
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6 LONG-TERM LIABILITIES (CONTINUED)
A. Governmental Activities (Continued)
Loans Payable ;Continued)
Motorola Equipment Loan (Continued)
The annual debt service requirements are as follows:
Year Ending June 30,
2026
2027
2028
2029
2030
2031-2034
Total
Principal Interest Total
$ 101,020 $ 51,842 $ 152,862
105,778 47,084 152,862
110,760 42,102 152,862
115,976 36,885 152,861
121,439 31,423 152,862
545,710 65,735 611,445
$ 1,100,683 $ 275,071 $ 1,375,754
OCTA Advance
On February 16, 2010, the City entered into a cooperative agreement with the Orange County Transportation Authority (the OCTA). Terms of the cooperative agreement required OCTA to repay CalTrans $1.5 million for previously disallowed costs in exchange for the City's support of OCTA's direction to CalTrans for any eligible project in Orange County. In addition, OCTA advanced the City $4.1 million of future Measure M funds to the City. Principal and accrued but unpaid interest payments are deducted from future Measure M funds at OCTA's discretion over approximately 19 years. Interest is equal to the yield on OCTA's short-term investment portfolio, and resets annually on June 30. The outstanding principal as of June 30, 2025 is $254,583.
Fire UAL Payoff Loan
On May 5, 2020 the City approved a payment plan to Cal PERS to pay off the $1,878,760 unfunded accrued liability (UAL) on the termination of the City's Safety -Fire category of the City's contract with CaIPERS. The payment plan is for a period of 5 years with an interest rate of 1.95%. Payments of $31,664 are payable monthly through May 2025. The balance was paid off during the year.
Leases Payable
The City leases land and improvements for various terms under eighteen long-term, noncancelable lease agreements. The leases expire at various dates through 2029. The net present values of the leases payable were determined using a discount rates ranging from 0.218 to 3.511%. Rent payments ranging from $417 to $1,289, are paid monthly or ranging from $1,483 to $35,490, paid quarterly. The leases provide for increases in future minimum monthly rental payments subject to stated increases.
As of June 30, 2025, lease assets and the related accumulated amortization totaled $1,241,101 and $(556,440), respectively. See Note 5 for Capital Assets. (67)
734
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6 LONG-TERM LIABILITIES (CONTINUED)
A. Governmental Activities (Continued)
Leases Payable (Continued)
Total future minimum lease payments under lease agreements are as follows:
Year Ending June 30, Principal Interest Total
2026
2027
2028
2029
Total
$ 242,494 $ 14,670 $ 257,164
221,439 8,935 230,374
161,636 3,659 165,295
55,926 774 56,700
681,495 $ 28,038
709,533
SBITA Liabilities
The City has entered into subscription based -information technology arrangements (SBITAs) for finance, cloud, and operating information technology systems. The SBITA arrangements expire at various dates through 2037 and provide for renewal options.
As of June 30, 2025, subscription assets and the related accumulated amortization totaled $3,220,279 and $(1,112,195), respectively. See Note 5 for Capital Assets.
The future subscription payments under SBITA agreements are as follows:
Year Ending June 30,
2026
2027
2028
2029
2030
2031-2035
2036-2037
Total
Principal Interest Total
$ 395,369 $ 37,300 $ 432,669
286,550 28,206 314,756
229,885 21,416 251,301
235,438 15,862 251,300
166,120 11,440 177,560
453,525 18,055 471,580
12,635 367 13,002
$ 1,779,522 $ 132,646 $ 1,912,168
There are no variable payments, no payments made related to termination penalties, and no impairment losses on subscription assets. For the SBITA agreements added in the current year, total capitalizable software configuration costs totaled $154,870.
Claims Payable
Estimated claims payable from general liability and workers' compensation claims as determined by outside claims administrator. Outstanding balance as of June 30, 2025 is as follows:
General Liability Claims
Workers' Compensation Claims
Total Claims Payable
$ 1,824,253
5,377,586
7,201,839
(68)
735
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6
LONG-TERM LIABILITIES (CONTINUED)
B. Business -Type Activities
A summary of changes in long-term liabilities for business -type activities for the year ended June 30, 2025 is as follows:
Compensated Absences (a)
Classification
Balance Balance Due Within Due in More
June 30, 2024 Additions Deletions June 30, 2025 One Year than One Year $ 31,632 $
4,763 $
- $ 36,395 $ 13,570 $ 22,825
(a) Deletions to compensated absences are presented net of additions, as allowed by GASB Statement No. 101, Compensated Absences.
C. Fiduciary Activities
A summary of changes in long-term liabilities for fiduciary activities for the year ended June 30, 2025 is as follows:
Bonds Payable:
2013 Tax Allocation
Refunding Bonds
Bond Premium:
2013 Tax Allocation
Refunding Bonds
Other Liabilities:
Reimbursement Due to City
SERAF Obligation
Total
Classification
Balance Balance Due Within Due in More
June 30, 2024 Additions Deletions June 30, 2025 One Year Than One Year $ 7,400,000
$ (695,000) $ 6,705,000 $ 720,000 $ 5,985,000
28,779 (3,560) 25,219 25,219
1,165,124
991,314
$ 9.585.217
(379,003) 786,121 388,577 397,544
991,314 - 991,314
$ (1.077.563) $ 8.507.654 $ 1.108.577 $ 7.399.077
2013 Tax Allocation Refunding Bonds
On December 1, 2013, the Successor Agency to the Redevelopment Agency of the City of Placentia issued a tax allocation refunding bond (TARB) in the amount of $13,120,000. Proceeds of the bond were used to refund the 2002 Series A and Series B Tax Allocation Bonds and the 2009 Subordinate Tax Allocation Note. The bond proceeds, together with other funds deposited from reserves, redeemed the 2002 Series A outstanding principal of $2,445,000, the 2002 Series B outstanding principal of $3,670,000, and the 2009 Subordinate TAN outstanding principal of $6,850,000. In lieu of funding the Reserve Account with proceeds of the Bonds, the Successor Agency has determined to purchase a Municipal Bond Debt Service Reserve Insurance Policy issued by the Insurer.
(69)
736
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6 LONG-TERM LIABILITIES (CONTINUED)
C. Fiduciary Activities (Continued)
2013 Tax Allocation Refunding Bonds (Continued;
The bond is a special obligation of the Successor Agency. The bond does not constitute a debt or liability of the City of Placentia, County of Orange, state of California, or of any political subdivision thereof, other than the Successor Agency. The Successor Agency shall only be obligated to pay the principal of the bond, or interest thereon, from the funds described within the Official Statement. Neither the faith and credit nor the taxing power of the City of Placentia, the County of Orange, the state of California, or any of its political subdivisions is pledged to the payment of the principal of or the interest on the bond. The Successor Agency has no taxing power. As of June 30, 2025, the outstanding principal on this bond is $6,705,000.
The annual debt service requirements are as follows:
Year Ending June 30,
2026
2027
2028
2029
2030
2031-2033
Total
Principal Interest Total
$ 720,000 $ 288,188 $ 1,008,188
750,000 258,788 1,008,788
780,000 227,700 1,007,700
810,000 192,375 1,002,375
850,000 152,950 1,002,950
2,795,000 203,181 2,998,181
$ 6,705,000 $ 1,323,182 $ 8,028,182
Debt Related Pledge of Revenue
The Successor Agency has pledged a portion of future tax increment revenues to repay the 2013 TARB as the source of repayment of this debt. Tax increment revenues were projected to produce a certain percentage of the debt service requirements over the life of the debt. Due to the dissolution of the former Placentia Redevelopment Agency, the pledged revenue is deposited to the County of Orange Redevelopment Property Tax Trust Fund (RPTTF). The County forwards the City funds to pay these recognized obligations.
Certificates of Participation City Reimbursement
On April 17, 2007, the City Council of the City of Placentia and the Board of Directors of the former Placentia Redevelopment Agency approved a reimbursement agreement between the City and the former Placentia Redevelopment Agency. This agreement provides that the former Placentia Redevelopment Agency will reimburse the City for a portion of the lease payment paid by the City to the bond trustee, with respect to the 2003 Refunded and Improvement Project Certificates of Participation.
The portion reimbursed is based upon the portion of the capital improvements and improved facilities benefiting from the original proceeds of the related debt issue that were within the confines of the redevelopment project area. The updated long-term liability balance as of June 30, 2025 of $786,121 represents the portion of the principal balance for which the Successor Agency will reimburse the City. (70)
737
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 6 LONG-TERM LIABILITIES (CONTINUED)
Certificates of Participation City Reimbursement (Continued', The annual debt service requirements are as follows:
Year Endinc June 30, Principal
2026
2027
Total
$ 388,577
397,544
$ 786,121
Interest Total
$
18,474 $ 407,051
9,342 406,886
27,816 S 813,937
Supplemental Education Revenue Augmentation Fund SERAF) Obligation The Successor Agency has accrued a liability in the amount of $991,314 in regard to its Supplemental Education Revenue Augmentation Fund (SERAF) obligation. This amount includes the unpaid portions from fiscal years 2009-10 and 2010-11. In 2009, the state of California issued a mandate that shifted redevelopment funds to education purposes.
This action required each local redevelopment agency to make payment to their respective County Auditor -Controller. The Placentia Redevelopment Agency did not make payment on this obligation for two fiscal years, as it did not have the means to do so. Nonpayment of SERAF obligations would usually result in suspension of redevelopment activity. Upon dissolution of redevelopment in 2012, this unpaid obligation was transferred to the Successor Agency. The Successor Agency will continue working to resolve this matter. Outstanding balance of SERAF Obligation as of June 30, 2025 was $991,314.
Real Property Loan Obligation
On January 20, 2009, the City Council of the City of Placentia and the Board of Directors of the former Placentia Redevelopment Agency approved a Purchase and Sale agreement between the City and the former Placentia Redevelopment Agency. This agreement provides that the Placentia Redevelopment Agency will finance and purchase two real properties from the City; 312 South Melrose Street and 110 South Bradford Avenue for $2,270,000 based on appraised property values at an interest rate of 7%.
The City received the final payment on the loan in the current year.
NOTE 7 DEFERRED COMPENSATION PLANS
Section 457 Plan
The City has made available to its employees two deferred compensation plans, created in accordance with Internal Revenue Code (the IRC) Section 457, whereby employees authorize the City to defer a portion of their salary to be deposited in individual investment accounts. There are several options available for employees to invest, including annuities, life insurance, savings accounts, and mutual funds. Funds may be withdrawn by participants upon termination of employment, retirement, or a certified emergency. The City makes no contribution under the plans.
(71)
738
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 7 DEFERRED COMPENSATION PLANS (CONTINUED)
Section 457 Plan (Continued)
Pursuant to changes in IRC Section 457, the City amended its plans and established a trust into which all assets and income of the 457 plan were transferred during the year ended June 30, 1998. The assets and all income attributable to such amounts are held in trust for the exclusive benefit of the participant and their beneficiaries. These assets are no longer the property of the City, and therefore, are no longer subject to the claims of the City's general creditors. As a result, the assets of the 457 deferred compensation plans are no longer presented in an agency fund of the City's financial statements. The City has minimal involvement in the administration of the 457 plans, and therefore, lacks the fiduciary accountability that would require the 457 assets be recorded in an expendable trust fund.
The Defined Compensation Plan assets are not included in the accompanying basic financial statements.
Section 401(a) Qualified Defined Contribution Pension Plan All City sworn full-time fire personnel are eligible to participate in the Section 401(a) qualified defined contribution pension plan as allowed under the Internal Revenue Code. The plan type sponsored by the City is the Money Purchase Plan (Plan), which was last amended on January 1, 2020. The Plan is a defined contribution retirement plan in which the employer's contribution is nondiscretionary and is based on a formula that is not related to profits. The Plan sponsor guarantees no benefit and bears no investment risk while the Plan participants bear all investment risk and have no guaranteed level of benefits.
An administrative committee comprised of City personnel governs the Plan. The City Council has the authority to establish or amend the Plan's provisions. The Plan's provisions and contribution requirements are established and may be amended by City Council resolution.
Eligible employees begin participating the first day of the month following their employment date of work. The Plan is entirely funded by City contributions of 10% of the participants' base pay to the deferred compensation plan. The City's contributions vest at 100% after completion of four years of uninterrupted employment.
Participants are eligible to begin receiving benefits at age 50 and are required to begin receiving benefits no later than April after age 70-1/2. The employees may also roll their funds to another retirement plan upon separation of service.
The City's payroll for employees covered by the Plan for the year ended June 30, 2025 was $3,929,123. Total employee contributions paid by the City amounted to $293,470.
As of June 30, 2025, the Plan had 28 participants.
(72)
739
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 8 PENSION PLANS
A. Summary
Deferred Outflows of Resources:
Pension Contribution Made After
Measurement Date:
CaIPERS Miscellaneous
CaIPERS Safety
Total Pension Contribution
Made After Measurement Date
Change in Assumptions
CaIPERS Miscellaneous
CaIPERS Safety
Total Change in Assumptions
Difference Between Projected and
Actual Investment Earnings:
CaIPERS Miscellaneous
CaIPERS Safety
Total Difference Between
Projected and Actual
Investment Earnings
Difference Between Expected and
Actual Experience:
CaIPERS Miscellaneous
CaIPERS Safety
Total Difference Between
Expected and Actual
Experience
Changes in Proportion and
differences between employer
contributions and proportionate
share of contributions:
CaIPERS Miscellaneous
CaIPERS Safety
Total Employer Contributions
in Excess of Proportionate
Share of Contribution
Total Deferred Outflows of Resources:
CaIPERS Miscellaneous
CaIPERS Safety
Total Deferred Outflows of
Resources
Governmental Business -Type
Activities Activities
Total
$ 387,424 $ 5,396 $ 392,820
689,865 - 689,865
1,077,289
63,365
117,664
181,029
141,926
230,837 - 230,837
5,396 1,082,685
882
64,247
117,664
882 181,911
1,977 143,903
372,763
213,151
389,741
602,892
1,091,295
752,195
1,843,490
1,897,161
2,180,302
1,977 374,740
2,969 216,120
389,741
2,969 605,861
15,199
1,106,494
752,195
15,199 1,858,689
26,423
1,923,584
2,180, 302
$ 4,077,463 $ 26,423 $ 4,103,886
(73)
740
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 8 PENSION PLANS (CONTINUED)
A. Summary (Continued)
Net Pension Liabilities:
CaIPERS Miscellaneous
CaIPERS Safety
Total Net Pension Liabilities
Deferred Inflows of Resources:
Change in Assumptions
CaIPERS Miscellaneous
CaIPERS Safety
Total Change in Assumptions
Changes in Proportion and
differences between employer
contributions and proportionate
share of contributions:
CaIPERS Miscellaneous
CaIPERS Safety
Total Adjustment Due to
Difference in Proportions
Difference Between Expected and
Actual Experience:
CaIPERS Miscellaneous
CaIPERS Safety
Total Difference Between
Expected and Actual
Experience
Employer Contributions In Excess
of Proportionate Share of
Contribution:
CaIPERS Miscellaneous
CaIPERS Safety
Total Employer Contributions
in Excess of Proportionate
Share of Contribution
Difference Between Expected and
Actual Experience:
CaIPERS Miscellaneous
CaIPERS Safety
Total Difference Between
Expected and Actual
Experience
Total Deferred Inflows of Resources:
CaIPERS Miscellaneous
CaIPERS Safety
Total Deferred Inflows of
Resources
Governmental Business -Type
Activities Activities
Total
$ 2,465,341 $ 34,335 $ 2,499,676
4,775,717 - 4,775,717
7,241,058 $ 34,335
893,832
1,978,746
2,872,578
8,317
7,275,393
$ - $
12,450
906,282
1,978,746
12,450 2,885,028
116 8,433
12,672 - 12,672
20,989
902,149
1,991,418
116 21,105
12,566
914,715
1,991,418
$ 2,893,567 $ 12,566 $ 2,906,133
(74)
741
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 8 PENSION PLANS (CONTINUED)
A. Summary (Continued)
Pension Expenses:
CaIPERS Miscellaneous
CaIPERS Safety
Total Net Pension Expense
Governmental Business -Type
Activities Activities
Total
$ 2,867,744 $ 39,940 $ 2,907,684
3,226,330 - 3,226,330
$ 6,094,074 $ 39,940 $ 6,134,014
B. General Information about the Pension Plans
Plan Description
The City contributes to the California Public Employees Retirement System (CaIPERS), a cost -sharing, multiple -employer defined benefit pension plan. CaIPERS provides retirement and disability benefits, annual cost -of -living adjustments, and death benefits to plan members and beneficiaries. CaIPERS acts as a common investment and administrative agent for participating public entities within the state of California. Benefit provisions and all other requirements are established by state statute and City ordinance. Copies of the CaIPERS annual financial report may be obtained from their Executive Office located at 400 P Street, Sacramento, California 95814.
Em 3loyees Covered by Benefit Terms
At the June 30, 2024 measurement date the following employees were covered by the benefit terms:
Active Employees
Transferred Employees
Separated Employees
Retired Employees and
Beneficiaries
Total
Miscellaneous
29 66
29 Miscellaneous
PEPRA
91 62
47 184 6
308 206
Safety
18 17
10 Safety
PEPRA
33 11
10 122 1
167 55
Benefit Provided
CaIPERS provide retirement and disability benefits, annual cost -of -living adjustments, and death benefits to plan members and beneficiaries. Classic and PEPRA Safety CaIPERS members become eligible for service retirement upon attainment of age 55 with at least five years of credited service. PEPRA miscellaneous members become eligible for service retirement upon attainment of age 62 with at least five years of service. The service retirement benefit is a monthly allowance equal to the product of the benefit factor, years of service, and final compensation. The final compensation is the monthly average of the member's highest 36 full-time equivalent monthly pay. (75)
742
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 8 PENSION PLANS (CONTINUED)
B. General Information about the Pension Plans (Continued) Benefit Provided (Continued;
Following are the benefit provisions for each plan:
Benefit Formula
Benefit Vesting Schedule
Benefit Payments
Retirement Age
Monthly Benefits, as a
Percentage of Eligible
Compensation
Required Employee
Contribution Rate
Required Employer
Contribution Rate
Miscellaneous
2.0% @ 55
5 Years
Service
Monthly for Life
55 2.0%
7.000%
12.520%
Miscellaneous
Tier 2
2.0% @ 60
5 Years
Service
Monthly for Life
60 2.0%
7.000%
10.710%
Miscellaneous
PEPRA
2.0% @ 62
5 Years
Service
Monthly for Life
62 2.0%
7.750%
7.870%
Safety
3.0% @ 50
5 Years
Service
Monthly for Life
50 3.0%
9.000%
27.320%
Safety
PEPRA
2.7% @ 57
5 Years
Service
Monthly for Life
50-57
2.7%
13.750%
13.760%
Contributions
Section 20814(c) of the California Public Employees' Retirement Law (PERL) 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. The total plan contributions are determined through CaIPERS' annual actuarial valuation process. 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 unfunded accrued liability. The employer 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 employer to satisfy contribution requirements that are identified by the pension plan terms as plan member contribution requirements are classified as plan member contributions. For the year ended June 30, 2025, the City made contributions to each Plan were as follows:
Contributions - Employer
Miscellaneous Safety Total
$ 392,820 $ 689,865 $ 1,082,685
(76)
743
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 8 PENSION PLANS (CONTINUED)
C. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions
Proportionate Share of Net Pension Liability and Pension (Income) Expense 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, 2024, 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, 2023, rolled forward to June 30, 2024, 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 projected contributions of all participating employers, actuarially determined. The City's change in the proportionate share of the net pension liability for each Plan as of the June 30, 2023, the measurement date and the June 30, 2024, measurement date was as follows:
Miscellaneous Safety
Proportion - June 30, 2023
Proportion - June 30, 2024
Change - Increase (Decrease)
0.05376 %
0.05168
0.07318
0.06550
(0.00208)% (0.00768)%
For the year ended June 30, 2025, the City recognized pension expense of $2,907,684 and $3,226,330, for the Miscellaneous and Safety plans, respectively. At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
Miscellaneous Plan
Deferred Deferred
Outflows of Inflows of
Resources Resources
Contribution Made After the Measurement Date $ 392,820 $ Difference Between Expected and Actual Experience 216,120 8,433 Changes of Assumptions 64,247
Net Difference Between Projected and Actual
Earnings on Pension Plan Investments 143,903
Changes in Proportion and Differences Between
Employer Contributions and Proportionate Share
of Contributions 1,106,494 906,282
Total $ 1,923,584 $ 914,715
(77)
744
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 8 PENSION PLANS (CONTINUED)
C. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions (Continued)
Proportionate Share of Net Pension Liability and Pension (Income) Expense (Continued) Safety Plan
Deferred Deferred
Outflows of Inflows of
Resources Resources
Contribution Made After the Measurement Date $ 689,865 $ Difference Between Expected and Actual Experience 389,741 12,672 Changes of Assumptions 117,664
Net Difference Between Projected and Actual
Earnings on Pension Plan Investments 230,837
Changes in Proportion and Differences Between
Employer Contributions and Proportionate Share
of Contributions 752,195 1,978,746
Total $ 2,180,302 $ 1,991,418
Aggregate Total
Deferred Deferred
Outflows of Inflows of
Resources Resources
Contribution Made After the Measurement Date
Difference Between Expected and Actual Experience
Changes of Assumptions
Net Difference Between Projected and Actual
Earnings on Pension Plan Investments
Adjustments Due to Difference in Proportions
Total
$ 1,082,685 $
605,861
181,911
374,740
1,858,689
21,105
2,885,028
$ 4,103,886 $ 2,906,133
(78)
745
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 8 PENSION PLANS (CONTINUED)
C. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions (Continued)
Proportionate Share of Net Pension Liability and Pension (Income) Expense (Continued) For the Miscellaneous Plan and Safety Plan, $392,820 and $689,865, respectively, were reported as deferred outflows of resources related to pensions resulting from City's contributions subsequent to the measurement date and will be recognized as a reduction of the net pension liability in the year ended June 30, 2025202520252025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:
Deferred (Inflows) Outflows of Resources
Measurement Period
Ending June 30,
2025
2026
2027
2028
2029
Thereafter
Total
Miscellaneous Safety
Plan Plan
$ 809,026
(58,479)
(85,184)
(49,314)
$ 616,049
Total
$ 104,253 $
(274,371)
(251,882)
(78,981)
913,279
(332,850)
(337,066)
(128,295)
$ (500,981) $ 115,068
Actuarial Assumptions
The total pension liabilities in the June 30, 2023 actuarial valuations were determined using the following actuarial assumptions:
Actuarial Cost Method
Actuarial Assumptions:
Discount Rate
Inflation
Salary Increases
Investment Rate of Return
Mortality Rate Table
Post Retirement Benefit Increase
Entry Age Normal
6.90%
2.30%
Varies by Entry Age and Service
6.90%
Derived using CaIPERS'
Membership Data for all Funds.
Contract COLA up to 2.3% until
Purchasing Power Protection
Allowance Floor on Purchasing
Power applies, 2.3% thereafter.
(79)
746
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 8 PENSION PLANS (CONTINUED)
C. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions (Continued)
Actuarial Assumptions (Continued)
The mortality table used was developed based on CaIPERS-specific data. The probabilities of mortality are based on the 2021 CaIPERS 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 CaIPERS Experience Study and review of Actuarial Assumptions report from November 2021 that can be found on the CaIPERS website.
Long -Term Expected Rate of Return
The long-term expected rate of return on pension plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.
In determining the long-term expected rate of return, CaIPERS took into account both short- term and long-term market return expectations. Using historical returns all of the funds' asset classes, expected compound (geometric) returns were calculated over the next 20 years using a building-block approach. The expected rate of return was then adjusted to account for assumed administrative expenses of 10 Basis points. The expected real rates of return by asset class are as follows:
Asset Class (a)
Global Equity - Cap -Weighted
Global Equity - Non -Cap -Weighted
Private Equity
Treasury
Mortgage -Backed Securities
Investment Grade Corporates
High Yield
Emerging Market Debt
Private Debt
Real Assets
Leverage
Total
Assumed
Asset Real Return
Allocation (a) (b)
30.00 % 4.45
12.00 3.84
13.00 7.28
5.00 0.27
5.00 0.50
10.00 1.56
5.00 2.27
5.00 2.48
5.00 3.57
15.00 3.21
(5.00) (0.59)
100.00 %
(a) An expected inflation of 2.30% used for this period. (b) Figures are based on the 2021 Asset Liability Management study. (80)
747
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 8 PENSION PLANS (CONTINUED)
C. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions (Continued)
Discount Rate
The discount rate used to measure the total pension liability was 6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.
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 position liability for the 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 discount rate that is 1 -percentage point lower or 1 -percentage point higher than the current rate:
Plan's Net Pension (Asset) Liability
1% Current 1%
Decrease Discount Rate Increase
Miscellaneous
Safety
Total
(5.90%)
(6.90%) (7.90%)
$ 11,446,990 $ 2,499,676 $ (4,865,280)
20,663,785 4,775,717 (8,218,489)
$ 32,110,775 $ 7,275,393 $ (13,083,769)
Pension Plan Fiduciary Net Position
Detailed information about the pension plan's fiduciary net position is available in the separately issued CaIPERS financial reports.
D. Payable to the Pension Plan
At June 30, 2025, the City had no outstanding amounts owed to the pension plan for contributions for the year ended June 30, 2025.
(81)
748
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 9 OTHER POSTEMPLOYMENT BENEFIT PLAN
A. Summary
Deferred Outflows of Resources:
Employer Contributions Made Subsequent
to the Measurement Date
Changes in Assumptions
Total Deferred Outflows of Resources
Governmental Business -Type
Activities Activities
$ 546,029
1,494,539
$ 2,040,568 $ 56,577 $ 2,097,145
Total
$ 15,139 $ 561,168
41,438 1,535,977
Net OPEB Liability $ 12,588,382
Deferred Inflows of Resources:
Changes in Assumptions
Difference Between Expected and
Actual Experience
Net Difference Between Projected
and Actual Earnings
Total Deferred Inflows of Resources
$ 349,023 $ 12,937,405
$ 5,224,488 $ 144,853 $ 5,369,341
4,716,607 130,772 4,847,379
100,778 2,794 103,572
$ 10,041,873 $ 278,419 $ 10,320,292
OPEB Income $
B. General Information About OPEB
1,254,472) $ (34,781) $ (1,289,253)
Plan Description
The City provides post -employment defined benefits to retired employees in the form of a contribution towards their health insurance premiums under the CaIPERS health plan, an agent multiple employer plan, that provides health insurance benefits to eligible retirees in accordance with various labor agreements. The minimum required retiree contributions are established by CaIPERS. Survivor benefits are not provided. Copies of the CaIPERS' annual financial report can be obtained from the CaIPERS Executive Office, 400 P Street, Sacramento, California 95814.
Eligibility
All employees hired prior to November 21, 1995, are in Tier I and become eligible for these benefits as long as they are 50 years of age or older and have worked for the City a minimum of five years and elect a service retirement from the City. The health benefits for Tier I retirees include medical, dental, optical, and life. These benefits are considered to be vested for Tier I employees. The City pays the same contribution for these benefits to Tier I employees as is paid to active employees. Vision benefits are also provided to Tier I employees who retired after September 30, 1990. The life insurance is available to Tier I retirees until they reach age of 70.
(82)
749
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 9 OTHER POSTEMPLOYMENT BENEFIT PLAN (CONTINUED)
B. General Information About OPEB (Continued)
All employees hired on or after November 21, 1995 are Tier II . The City pays the minimum required medical insurance contribution established by CaIPERS for Tier II employees.
Membership in the plan consisted of the following at June 30, 2024, the date of the latest actuarial valuation:
Active Plan Members
Retirees
Total
204
149
353
C. Net OPEB Liability, OPEB Expense, and Deferred Outflows/Inflows of Resources Related to OPEB
Contributions
Benefit provisions and contribution requirements are established and may be amended through agreements and memorandums of understanding between the City, its management employees, and unions representing the City's employees. The plan does not require employee contributions.
The annual contribution is based on the actuarially determined contribution. For the fiscal year ended June 30, 2025, the City made contributions to the plan totaling $561,168 ($855,087 actual benefit payments and a $169,176 implicit subsidy credit, less trust reimbursements of $463,095). Employees are not required to contribute to the plan.
Total OPEB Liability
The City's total OPEB liability was measured as of June 30, 2024. The total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation as of June 30, 2024. The total OPEB liability at June 30, 2025 was $14,932,515. (83)
750
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 9 OTHER POSTEMPLOYMENT BENEFIT PLAN (CONTINUED)
C. Net OPEB Liability, OPEB Expense, and Deferred Outflows/Inflows of Resources Related to OPEB (Continued)
Actuarial Assumptions
The total OPEB liability in the June 30, 2023, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement, unless otherwise specified:
Actuarial Assumptions:
Discount Rate
Inflation
Aggregate Payroll Increases
Expected Long -Term Investment Rate of Return
Mortality, Termination, and Disability
Mortality Improvement Scale
Healthcare Trend Rate - Non -Medicare
Healthcare Trend Rate - Medicare
5.60% (Bond Buyer 20 -Bond Index)
2.40% Annually
2.80%
N/A
CaIPERS 2000-2019 Experience
Study
Modified projected fully generational
with Scale MP -2021
An annual healthcare cost trend
rate of 8.20% for 2025, decreasing
to an ultimate rate of 5.00% in 2031
An annual healthcare cost trend
rate of 7.30% for 2025, decreasing
to an ultimate rate of 4.50% in 2030
The actuarial assumptions used in the June 30, 2023 valuation were based on the results of the November 2021 CaIPERS experience study covering 2000 to 2019.
Discount Rate
The discount rate used to measure the total OPEB liability was 4.80%. This discount rate is the mid -point, rounded to five basis points of the range of three 20 -year municipal bond rate indices; S&P Municipal bond 20 Year High Grade Rate Index, Bond Buyer 20 -Bond GO Index, and Fidelity GO AA 20 Year Bond Index. (84)
751
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 9 OTHER POSTEMPLOYMENT BENEFIT PLAN (CONTINUED)
C. Net OPEB Liability, OPEB Expense, and Deferred Outflows/Inflows of Resources Related to OPEB (Continued)
Chance in the Net OPEB Liability
Balance - June 30, 2023 (Measurement Date)
Changes Recognized for the Measurement Period:
Service Cost
Interest on the Total OPEB Liability
Difference Between Expected and
Actual Experience
Changes of Assumptions
Contributions from the Employer
Net Investment Income
Administrative Expenses
Benefit Payments
Net Changes
Total OPEB
Liability
$ 15,832,494
304,795
746,786
(684,035)
(95,294)
(1,172,231)
(899,979)
Plan Fiduciary
Net Position
$ 1,833,177
Net OPEB
Liability
$ 13,999,317
304,795
746,786
- (684,035)
- (95,294)
1,172,231 (1,172,231)
168,079 (168,079)
(6,146) 6,146
(1,172,231) -
161,933 (1,061,912)
Balance - June 30, 2024 (Measurement Date) $ 14,932,515 $ 1,995,110 $ 12,937,405 Sensitivity of the Net OPEB Liability to Changes in the 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 a discount rate that is 1 -percentage point lower (3.80%) or 1 -percentage point higher (5.80%) than the current discount rate:
OPEB Pension Plan
Plan's Total OPEB Liability
1%
Decrease
(4.50%)
$ 14,512,347
Current
Discount Rate
(5.60%)
$ 12,937,405
1%
Increase
(6.60%)
$ 11,608,719
Sensitivity of the Net OPEB Liability to Changes in the Health Care 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 healthcare cost trend rates that are 1 -percentage point lower or 1 -percentage point higher than the current healthcare cost trend rates:
OPEB Pension Plan
Plan's Total OPEB Liability
Healthcare
1% Cost Trend 1%
Decrease Rates Increase
$ 12,375,916 $ 12,937,405 $ 13,604,265
(85)
752
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 9 OTHER POSTEMPLOYMENT BENEFIT PLAN (CONTINUED)
C. Net OPEB Liability, OPEB Expense, and Deferred Outflows/Inflows of Resources Related to OPEB (Continued)
OPEB Expense (Income), and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB
For the fiscal year ended June 30, 2025, the City recognized OPEB income of $1,289,253. At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
Deferred Deferred
Outflows Inflows
of Resources of Resources
Difference Between Expected and Actual Experience $ $ 4,847,379 Changes in Assumptions 1,535,977 5,369,341
Employer Contributions Made Subsequent to the
Measurement Date 561,168
Net Difference Between Projected and Actual
Earnings on OPEB Plan Investments - 103,572
Total $ 2,097,145 $ 10,320,292
The difference between projected OPEB plan investment earnings and actual earnings is amortized over a five-year period. The remaining gains and losses are amortized over the expected average remaining service life. The expected average remaining service life is 8 years, which was determined as of July 1, 2021, the beginning of the measurement period, for employees covered by the OPEB plan benefit terms as of the valuation date.
$561,168 was reported as a deferred outflow of resources related to OPEB resulting from the City's contributions subsequent to the measurement date and will be recognized as a reduction of the net 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 in OPEB expense as follows:
Fiscal Year Endinc June 30,
2026
2027
2028
2029
2030
Thereafter
Total
Deferred
Outflows
(Inflows)
of Resources
$ (1,696,601)
(1,428,627)
(1,816,076)
(1,992,156)
(1,167,053)
(683,802)
$ (8,784,315)
(86)
753
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 10 RISK MANAGEMENT AND SELF-INSURANCE PROGRAM
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters.
The City participates in municipal agency risk pools for their property, workers' compensation, and excess liability coverage.
A. General Liability
The City is a member of the Public Agency Risk Sharing Authority of California (PARSAC), a joint powers authority, which provides joint protection programs for public entities covering automobile, general liability, errors and omission losses, workers' compensation, and property claims. Under the program, the City has a $100,000 retention limits similar to a deductible with the PARSAC being responsible for losses above that amount up to $1 million.
The PARSAC has additional coverage of $34 million in excess of its $1 million retention limit affiliated risk management authorities. The PARSAC also provides $1 billion aggregate per occurrence property coverage to its members with such coverage provided by purchased insurance.
B. Workers' Compensation
The City is a member of the Local Agency Workers' Compensation Excess (the LAWCX), a joint powers authority, which provides joint protection programs for public entities covering worker's compensation claims. Under the program, the City has a $250,000 retention limits similar to a deductible with the LAWCX being responsible for losses above that amount up to $4.7 million. The City has purchased excess coverage for workers' compensation excess of $5 million.
C. Other Insurance
The City has Crime Bond Insurance coverage as a member of PARSAC under Alliant Crime Insurance Program (the ACIP) excess of $2,500 up to $1 million. This insurance includes coverage for faithful performance of duty, forgery, or alteration, inside premises theft of money and securities, inside premises robbery and safety, burglary other property outside the premises, computer fraud, funds transfer fraud, and money orders and counterfeit paper currency fraud.
(87)
754
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 10 RISK MANAGEMENT AND SELF-INSURANCE PROGRAM (CONTINUED) C. Other Insurance (Continued)
A reconciliation of changes in aggregates for claims filed in the current and prior fiscal years are as follows:
Current Year Amounts
Beginning Claims and End Amounts Due in
of Year Changes in Claim of Year Due within more than
Liability Estimates Payments Liability One Year One Year Workers' Compensation:
2023-2024
2024-2025
General Liability:
2023-2024
2024-2025
$ 2,883,583 $ 470,637 $ (857,340) $ 2,496,880 $ 624,220 $ 1,872,660 2,496,880 3,858,473 (977,767) 5,377,586 1,344,397 4,033,189 $ 1,167,761 $ 1,074,374 $ (918,099) $ 1,324,036 $ 317,259 $ 1,006,777 1,324,036 743,653 (243,436) 1,824,253 456,063 1,368,190 NOTE 11 CLASSIFICATION OF FUND BALANCES
At June 30, 2025, fund balances are classified in the governmental funds as follows:
Nonspendable:
Inventory
Prepaid Items
Loans Receivable
Total Nonspendable
Citywide
Development Placentia
Impact Fee Regional Nonmajor
General Special Navigation Debt Governmental
Fund Revenue Fund Center Service Fund Funds
$ 7,740 $ - $
66,203 3,282
397,544 -
$ - $
Total
$ 7,740
69,485
397,544
471,487 3,282 - - - 474,769
Restricted:
Public Safety - 2,050,580 2,050,580
Public Works - 1,176,380 1,176,380
Community Development - 5,152,794 - - 2,405,180 7,557,974 Community Services - - 201,159 201,159
Debt Service 4,676,884 87,394 4,764,278
Transportation - 464,823 464,823
Park Development - - - - 21,518 21,518
Air Quality 382,443 382,443
Housing 2,110,268 2,110,268
Pension Stability 1,334,070 - 1,334,070
Total Restricted 1,334,070 5,152,794 4,676,884 8,899,745 20,063,493 Committed:
Measure U - Infrastructure 1,996,732 1,996,732
Total Committed 1,996,732 1,996,732
Assigned:
Subsequent Year's Budget:
Appropriation of
Fund Balance 1,396,102 1,396,102
Total Assigned 1,396,102 - - - - 1,396,102
Unassigned 9,078,465 (2,180,341) (1,836,306) 5,061,818
Total Fund Balances $ 14,276,856 $ 5,156,076 $ (2,180,341) $ 4,676,884 $ 7,063,439 $ 28,992,914 (88)
755
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 12 COMMITMENTS AND CONTINGENCIES
A. Commitments
The City had several outstanding or planned construction and other projects as of June 30, 2025. These projects are evidenced by contractual commitments with contractors or other agencies and include:
Pro.ects Commitment
Buildings and Facilities
Streets and Streetscapes
Traffic and Transportation
Sewer
Parks
Major Studies
Vehicles and Equipment
Technology
Total
$ 2,636,906
14,651,255
1,512,581
61,953
1,211,306
779,298
272,254
243,263
$ 21,368,816
The City has various outstanding purchase commitments. Total commitments at June 30, 2025 are as follows:
Governmental Funds:
General Fund
Other Governmental Funds
Total
B. Contingencies
Outstanding
Purchase
Commitments
$ 2,143,266
3,257,738
$ 5,401,004
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.
C. Grants
Amounts received or receivable from granting agencies are subject to audit and adjustment by grantor agencies. While no matters of noncompliance were disclosed by the audit of the financial statements or single audit of the Federal grant programs, grantor agencies may subject grant programs to additional compliance tests, which may result in disallowed costs. In the opinion of management, future disallowances of current or prior grant expenditures, if any, would not have a material adverse effect on the financial position of the City.
(89)
756
CITY OF PLACENTIA
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
NOTE 13 OTHER REQUIRED FUND DISCLOSURES
A. Expenditures in Excess of Appropriation
Excess of expenditures over appropriations occurred in individual funds during the year ended June 30, 2025, as follows:
Special Revenue Funds:
Measure M
Supplemental Law Enforcement
Opioid Settlement
Debt Service Funds:
Major Debt Service Fund
Gas Tax Debt Service
Expenditures A
Jro
Expenditure
in Excess of
Driation Acorooriations
$ 1,906,622 $ 1,848,448 $ (58,174)
194,663 191,000 (3,663)
10,557 - (10,557)
B. Deficit Net Position and Fund Balances
4,693,073
404,317
4,662,800
368,000
Funds with deficit net position/fund balance at June 30, 2025, are as follows:
Special Revenue Funds:
Placentia Regional Navigation Center (Major Fund)
Miscellaneous Grants
Measure M
Landscape Maintenance District 92-1
Housing and Community Development
Sewer Construction
Total
Deficit
Fund Balance
$ (2,180,341)
(696,186)
(174,251)
(67,192)
(566,931)
(123,349;
$ (3,808,250)
Capital Projects Fund:
City Capital Projects $
311,031)
(30,273)
(36,317)
Deficit
Net Position
Internal Service Fund:
Risk Management $ (4,924,680)
At June 30, 2025, the City's governmental activities had an unrestricted net position deficit of $(66,583,173) on the statement of net position. This deficit was created from the implementation of GASB Statement 68 (Net Pension Liability) in fiscal year 2015 and the implementation of GASB Statement 75 (Total OPEB Liability) in 2018. The City expects to eliminate the deficit via increased pension and OPEB contributions consistent with the amortization schedules provided by the City's pension and OPEB administrators.
(90)
757
REQUIRED SUPPLEMENTARY INFORMATION
(UNAUDITED)
758
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759
CITY OF PLACENTIA
BUDGETARY COMPARISON SCHEDULE -
GENERAL FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes
Intergovernmental
Licenses and Permits
Fines and Forfeitures
Investment Income
Charges for Services
Leases and Rents
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Community Development
Community Services
Capital Outlay
Debt Service:
Principal Retirement
Interest and Fiscal Charges
Total Expenditures
REVENUE OVER (UNDER) EXPENDITURES
$ 46,986,063 $ 47,411,063 $ 47,216,243 $ (194,820)
280,000 2,387,654 533,191 (1,854,463)
2,903,140 3,206,743 3,202,633 (4,110)
485,000 575,000 764,685 189,685
800,000 800,000 1,070,564 270,564
1,458,425 1,485,804 1,604,224 118,420
1,081,000 1,101,000 1,579,509 478,509
314,400 637,812 706,522 68,710
54,308,028 57,605,076 56,677,571 (927,505)
15,175,710 16,451,945
19,365,868 19, 820, 370
4,566,940 5,133,823
1,782,450 2,024,001
3,481,600 3,412,616
4,348,750 15,377,846
1,611,876 1,611,876
189,286 189,286
50,522,480 64,021,763
3,785,548 (6,416,687)
16,586,077 (134,132)
20,563,786 (743,416)
5,174,844 (41,021)
1,894,731 129,270
3,288,610 124,006
10,234,402 5,143,444
2,311,372 (699,496)
201,154 (11,868)
60,254,976 3,766,787
(3,577,405) 2,839,282
OTHER FINANCING SOURCES (USES)
Issuance of Debt - 474,582 474,582
Transfers In 405,100 415,100 3,561,683 3,146,583
Transfers Out (1,998,660) (1,349,734) (4,553,777) (3,204,043) Total Other Financing Sources (Uses) (1,593,560) (934,634) (517,512) 417,122 NET CHANGE IN FUND BALANCE $ 2,191,988 $ (7,351,321) (4,094,917) $ 3,256,404 Fund Balance - Beginning of Year 18,371,773
FUND BALANCE - END OF YEAR $ 14,276,856
See accompanying Notes to Budgetary Comparison Schedules. (91)
760
CITY OF PLACENTIA
BUDGETARY COMPARISON SCHEDULE -
CITYWIDE DEVELOPMENT IMPACT FEE SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Investment Earnings
Contributions
Total Revenues
EXPENDITURES
Current:
Public Safety
Capital Outlay
Total Expenditures
REVENUE OVER (UNDER) EXPENDITURES
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ - $ 108,913 $ 108,913
1,541,007 2,896,668 1,355,661
1,541,007
103,500 123,500
411,450 1,112,288
514,950 1,235,788
(514,950) 305,219
3,005,581 1,464, 574
2,260 121,240
226,307 885,981
228,567 1,007,221
2,777,014 2,471,795
$ (514,950) $ 305,219 2,777,014 $ 2,471,795
See accompanying Notes to Budgetary Comparison Schedules. (92)
2,379,062
$ 5,156,076
761
CITY OF PLACENTIA
BUDGETARY COMPARISON SCHEDULE -
PLACENTIA REGIONAL NAVIGATION CENTER SPECIAL REVENUE FUND YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 2,933,600 $ 4,315,236 $ 3,488,019 $ (827,217)
EXPENDITURES
Current:
Public Safety
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
2,933,600 4,314,436
3,039,702 1,274,734
- $ 800 448,317 $ 447,517
See accompanying Notes to Budgetary Comparison Schedules. (93)
(2,628,658)
$ (2,180,341)
762
CITY OF PLACENTIA
NOTES TO BUDGETARY COMPARISON SCHEDULES
YEAR ENDED JUNE 30, 2025
Budgetary Control and Accounting Policy
The City prepares its budgets on the basis of estimated revenues and expenditures and, accordingly, the budget amounts included in the accompanying financial statements are presented on a basis substantially consistent with generally accepted accounting principles. Encumbrance accounting is utilized during the fiscal year, whereby purchase orders, contracts, and other commitments are recorded in order to control appropriations. However, at fiscal year-end, all appropriations lapse.
Accordingly, encumbrances are cancelled and generally are re -appropriated as part of the following year's budget. Encumbrances are not included in reported expenditures.
Annual budgets are adopted for the General Fund, Special Revenue Funds, Debt Service Funds, and Capital Projects Funds. The City Council approves total budgeted appropriations and any amendments to appropriations throughout the year. In 2025, the City did not create a budget for the following governmental special revenue funds: Park Development, Storm Drain, Traffic Offender, Sewer Construction, Affordable Housing In -Lieu, Community Based Transitional Housing Grant, Housing Successor, and Orangethorpe Corridor.
The budgetary level of control for all governmental fund types is the fund level. The City Administrator has the discretion to transfer appropriations between departments within a fund, but transfers between funds must be approved by the City Council.
(94)
763
CITY OF PLACENTIA
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITIES AND RELATED RATIOS -
MISCELLANEOUS PLAN
LAST TEN FISCAL YEARS
Fiscal Year Ended
Measurement Date
Plan's Proportion of the Net Pension Liability
Plan's Proportionate Share of the Net Pension Liability Plan's Covered Payroll
Plan's Proportionate Share of the Net Pension Liability as a Percentage of Covered Payroll
Plan's Fiduciary Net Position
Plan's Fiduciary Net Position as a Percentage of the
Total Pension Liability
Plan's Proportionate Share of Aggregate Employer
Contributions
Notes to Schedule:
Benefit Changes:
There were no changes in benefits.
6/30/2025 6/30/2024 6/30/2023 6/30/2022 6/30/2021 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2024 6/30/2023 6/30/2022 6/30/2021 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015
0.05168% 0.05376% 0.03319% -0.45585% 0.38926% 0.14843% 0.14479% 0.14212% 0.14024% 0.13337% $ 2,499,676 $ 2,688,135 $ 1,552,976 $ 16,419,169 $ 16,419,169 $ 15,209,436 $ 13,952,246 $ 14,094,828 $ 12,135,165 $ 9,154,245 $ 9,790,895 $ 8,115,390 $ 7,062,718 $ 6,733,121 $ 5,725,763 $ 5,027,138 $ 4,966,210 $ 4,171,235 $ 4,140,888 $ 3,220,454
25.53% 33.12% 21.99% 243.86% 286.76% 332.34% 345.80% 337.91% 293.06% 284.25% $ 63,806,001 $ 60,515,009 $ 60,033,972 $ 40,663,791 $ 40,663,791 $ 41,142,220 $ 40,682,189 $ 39,816,871 $ 38,103,697 $ 40,735,920
96.23% 95.75% 97.48% 71.24% 71.24% 74.46% 73.86% 73.86% 75.85% 81.65% $ 2,435,479 $ 2,515,714 $ 3,114,009 $ 2,642,842 $ 1,383,994 $ 1,139,534 $ 932,993 $ 785,438 $ 667,441 $ 383,155 Changes in Assumptions:
From fiscal year June 30, 2016 to June 30, 2017: There were no changes in assumptions.
From fiscal year June 30, 2017 to June 30, 2018:
In fiscal year 2017-2018, the financial reporting discount rate was reduced from 7.65% to 7.15%. Deferred outflows of resources and deferred inflows of resources for changes of assumptions represent the unamortized portion of this assumption change and the unamortized portion of the changes of assumptions related to prior measurement periods.
From fiscal year June 30, 2018 to June 30, 2019:
In 2018, demographic assumptions and inflation rate were changed in accordance to the CaIPERS Experience Study and Review of Actuarial Assumptions December 2017. There were no changes in the discount rate.
From fiscal year June 30, 2019 to June 30, 2020:
In fiscal year 2019-2020, the financial reporting discount rate was reduced from 7.375% to 7.150%. The inflation rate was reduced from 2.75% to 2.50% in fiscal year 2019-2020.
From fiscal year June 30, 2020 to June 30, 2021: There were no changes in assumptions.
From fiscal year June 30, 2021 to June 30, 2022: There were no changes in assumptions.
From fiscal year June 30, 2022 to June 30, 2023: In fiscal year 2022-2023, the financial reporting discount rate was reduced from 7.150% to 6.900%.
From fiscal year June 30, 2023 to June 30, 2024: There were no changes in assumptions.
From fiscal year June 30, 2024 to June 30, 2025: There were no changes in assumptions. (95)
CITY OF PLACENTIA
SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITIES AND RELATED RATIOS -
SAFETY PLAN
LAST TEN FISCAL YEARS
Fiscal Year Ended
Measurement Period
Plan's Proportion of the Net Pension Liability
Plan's Proportionate Share of the Net Pension Liability Plan's Covered Payroll
Plan's Proportionate Share of the Net Pension Liability as a Percentage of Covered Payroll
Plan's Fiduciary Net Position
Plan's Fiduciary Net Position as a Percentage of the
Total Pension Liability
Plan's Proportionate Share of Aggregate Employer
Contributions
Notes to Schedule:
Benefit Changes:
There were no changes in benefits.
6/30/2025 6/30/2024 6/30/2023 6/30/2022 6/30/2021 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2024 6/30/2023 6/30/2022 6/30/2021 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015
0.06550% 0.07318% 0.04235% -0.41630% 0.44230% 0.26351% 0.27222% 0.27242% 0.28572% 0.30267% $ 4,775,717 $ 5,470,210 $ 2,910,326 $ 29,467,303 $ 29,467,303 $ 27,002,144 $ 26,231,540 $ 27,017,047 $ 24,723,412 $ 20,774,757 $ 6,360,119 $ 5,760,486 $ 5,428,571 $ 5,414,606 $ 4,822,533 $ 4,385,233 $ 4,383,655 $ 4,193,517 $ 4,142,921 $ 4,074,947
75.09% 94.96% 53.61% 544.22% 611.03% 615.75% 598.39% 644.26% 596.76% 509.82% $ 116,311,710 $ 104,039,873 $ 104,039,873 $ 113,454,370 $ 69,454,497 $ 69,385,418 $ 65,913,238 $ 62,459,293 $ 58,150,629 $ 60,121,518
96.06% 95.00% 97.28% 79.38% 70.21% 71.99% 71.53% 69.81% 70.17% 74.32% $ 4,119,383 $ 4,216,661 $ 6,941,085 $ 6,061,344 $ 2,517,884 $ 2,108,590 $ 3,034,432 $ 2,753,462 $ 2,568,441 $ 2,175,167 Changes in Assumptions:
From fiscal year June 30, 2016 to June 30, 2017: There were no changes in assumptions.
From fiscal year June 30, 2017 to June 30, 2018:
In fiscal year 2017-2018, the financial reporting discount rate was reduced from 7.65% to 7.15%. Deferred outflows of resources and deferred inflows of resources for changes of assumptions represent the unamortized portion of this assumption change and the unamortized portion of the changes of assumptions related to prior measurement periods.
From fiscal year June 30, 2018 to June 30, 2019:
In 2018, demographic assumptions and inflation rate were changed in accordance to the CaIPERS Experience Study and Review of Actuarial Assumptions December 2017. There were no changes in the discount rate.
From fiscal year June 30, 2019 to June 30, 2020:
In fiscal year 2019-2020, the financial reporting discount rate was reduced from 7.375% to 7.150%. The inflation rate was reduced from 2.75% to 2.50% in fiscal year 2019-2020.
From fiscal year June 30, 2020 to June 30, 2021: There were no changes in assumptions.
From fiscal year June 30, 2021 to June 30, 2022: There were no changes in assumptions.
From fiscal year June 30, 2022 to June 30, 2023: In fiscal year 2022-2023, the financial reporting discount rate was reduced from 7.150% to 6.900%.
From fiscal year June 30, 2023 to June 30, 2024: There were no changes in assumptions.
From fiscal year June 30, 2024 to June 30, 2025: There were no changes in assumptions. (96)
CITY OF PLACENTIA
SCHEDULE OF CITY'S PENSION CONTRIBUTIONS -
MISCELLANEOUS PLAN
LAST TEN FISCAL YEARS
Fiscal Year
Contractually Determined Contribution
(Actuarially Determined)
Contributions in Relation to the Actuarially
Determined Contributions
Contribution Deficiency (Excess)
Covered Payroll
Contributions as a Percentage of Covered Payroll
Notes to Schedule:
Valuation Date
Methods and Assumptions Used
to Determine
Contribution Rates:
Actuarial Cost Method
Amortization Method
Asset Valuation Method
Inflation
Salary Increases
Investment Rate of Retum
Retirement Age
Mortality
2024-25 2023-24 2022-23 2021-22 2020-21 2019-20 2018-19 2017-18 2016-17 2015-16 $ 392,820 $ 854,667 $ 710,758 $ 589,881 $ 1,516,621 $ 1,383,994 $ 1,139,534 $ 932,993 $ 785,438 $ 667,441 (392,820) (854,667) (710,758) (589,881) (17,663,643) (1,383,994) (1,139,534) (932,993) (785,438) (667,441) $ $ $ $ $ (16,147,022) $ $ $ $ $
$ 9,710,922 $ 9,790,895 $ 8,115,390 $ 7,062,718 $ 6,733,121 $ 5,725,763 $ 5,027,138 $ 4,966,210 $ 4,171,235 $ 4,140,888
4.05% 8.73% 8.76% 8.35% 262.34% 31.07% 26.35% 22.22% 19.27% 16.12% 6/30/2023 6/30/2022 6/30/2021 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 6/30/2014 Entry age Entry age Entry age Entry age Entry age Entry age Entry age Entry age Entry age Entry age (1) (1) (1) (1) (1) (1) (1) (1) (1) (1)
Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value
2.30% 2.30% 2.30% 2.50% 2.50% 2.50% 2.75% 2.75% 2.75% 2.75% (2) (2) (2) (2) (2) (2) (2) (2) (2) (2)
6.9% (3) 6.9% (3) 6.9% (3) 7.150% (3) 7.150% (3) 7.150% (3) 7.375% (3) 7.50% (3) 7.50% (3) 7.50% (3) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4)
(5) (5) (5) (5) (5) (5) (5) (5) (5) (5)
(1) Level percentage of payroll, closed
(2) Depending on age, service, and type of employment
(3) Net of pension plan investment expense, including inflation (4) 50 for all plans with the exception of 52 for Miscellaneous PEPRA 2%@62** (5) Mortality assumptions are based on mortality rates resulting from the most recent CaIPERS Experience Study adopted BR the CaIPERS Board. (97)
CITY OF PLACENTIA
SCHEDULE OF CITY'S PENSION CONTRIBUTIONS -
SAFETY PLAN
LAST TEN FISCAL YEARS
Fiscal Year 2024-25 2023-24 2022-23 2021-22 2020-21 2019-20 2018-19 2017-18 2016-17 2015-16 Contractually Determined Contribution
(Actuarially Determined) $ 689,865 $ 1,236,862 $ 1,095,286 $ 1,015,425 $ 2,561,365 $ 2,519,683 $ 2,108,590 $ 3,034,432 $ 2,753,462 $ 2,568,441 Contributions in Relation to the Actuarially
Determined Contributions (689,865) (1,236,862) (1,095,286) (1,015,425) (30,597,527) (2,519,683) (2,108,590) (3,034,432) (2,753,462) (2,568,441) Contribution Deficiency (Excess) $ - $ - $ - $ $ (28,036,162) $ - $ - $ - $ - $ Covered Payroll $ 7,151,590 $ 6,360,119 $ 5,760,486 $ 5,428,571 $ 5,414,606 $ 4,822,533 $ 4,385,233 $ 4,383,655 $ 4,193,517 $ 4,142,921 Contributions as a Percentage of Covered
Payroll
Notes to Schedule:
Valuation Date
Methods and Assumptions Used
to Determine
Contribution Rates:
Actuarial Cost Method
Amortization Method
Asset Valuation Method
Inflation
Salary Increases
Investment Rate of Return
Retirement Age
Mortality
9.65% 19.45% 19.01% 18.71% 565.09% 52.25% 48.08% 69.22% 65.66% 62.00% 6/30/2023 6/30/2022 6/30/2021 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 6/30/2014 Entry age Entry age Entry age Entry age Entry age Entry age Entry age Entry age Entry age Entry age (1.00) (1.00) (1.00) (1.00) -1 (1) (1) (1) (1) (1)
Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value
2.30% 2.30% 2.30% 2.50% 2.50% 2.50% 2.75% 2.75% 2.75% 2.75% (2) (2) (2) (2) (2) (2) (2) (2) (2) (2)
6.9% (3) 6.9% (3) 6.9% (3) 7.150% (3) 7.150% (3) 7.150% (3) 7.375% (3) 7.50% (3) 7.50% (3) 7.50% (3) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4)
(5) (5) (5) (5) (5) (5) (5) (5) (5) (5)
(1) Level percentage of payroll, closed
(2) Depending on age, service, and type of employment
(3) Net of pension plan investment expense, including inflation (4) 50 for all plans with the exception of 52 for Miscellaneous PEPRA 2%@62** (5) Mortality assumptions are based on mortality rates resulting from the most recent CaIPERS Experience Study adopted BR the CaIPERS Board. (98)
CITY OF PLACENTIA
SCHEDULE OF CHANGES IN NET OPEB LIABILITY AND RELATED RATIOS
LAST SEVEN FISCAL YEARS
Measurement Period, Year Ending: 1 6/30/2024 6/30/2023
6/30/2022 6/30/2021
6/30/2020
Total OPEB Liability:
Service Cost $ 304,795 $ 532,568 $ 359,454
Interest 746,786 691,435 919,735
Changes of Benefit Terms - - -
Differences Between Expected and Actual Experience (684,035) (4,989,665) Changes of Assumptions (95,294) (1,506,167) 4,699,117 (1,089,486) Benefit Payments, Including Refunds of Member
Contributions (1,172,231) (1,093,319) (1,132,073) (1,143,510) (1,142,314) (1,112,888) (1,107,000) Net change in Total OPEB Liability (6,415,339) 4,835,992 (1,751,156) (594,010) 6/30/2019
6/30/2018
Total OPEB Liability - Beginning
$ 296,493 $ 491,712
639,487 536,526
(5,302) (2,064,492)
(2,319,626) (4,427,399)
(899,979) (2,482,267) (6,595,726)
15,832,494 18,314,761 24,910,487
Total OPEB Liability - Ending (a) $ 14,932,515 $ 15,832,494 $ 18,314,761 OPEB Fiduciary Net Position:
Contributions - Employer
Net Investment Income
Benefit Payments, Including Refunds of Member
Contributions
Administrative Expense
Net Change in Plan Fiduciary Net Position
$ 542,976
1,092,405
(2,606,242)
332,593
$ 569,606
1,032,870
31,325,826 26,489,834 28,240,990 28,835,000
$ 24,910,487 $ 31,325,826 $ 26,489,834 $ 28,240,990
$ 1,172,231 $ 2,800,144 $ 1,132,073 $ 1,146,160 $ 1,146,160 $ 1,142,314 $ 1,112,888 168,079 132,778 - - -
(1,172,231)
(6,146)
(1,093,319)
(6,426)
161,933 1,833,177
Plan Fiduciary Net Position - Beginning 1,833,177
Plan Fiduciary Net Position - Ending (b)
Plan Net OPEB Liability - Ending (a) - (b)
Plan Fiduciary Net Position as a Percentage of the
Total OPEB Liability
1,995,110 1,833,177
(1,132,073) (1,146,160)
(1,146,160)
(1,142,314) (1,112,888)
$ 12,937,405 $ 13,999,317 $ 18,314,761 $ 24,910,487 $ 31,325,826 $ 26,489,834 $ 28,240,990
13.36% 11.58% 0.00% 0.00% 0.00% 0.00% 0.00%
Covered -Employee Payroll $ 24,117,472 $ 18,881,076 $ 17,448,843 $ 13,993,405 $ 12,286,189 $ 11,810,189 $ 11,466,203 Plan Net OPEB Liability as a Percentage of Covered
Payroll
54% 74%
105% 178%
Notes to Schedule:
For the June 30, 2024, measurement date, the discount rate was increased from 4.80% to 5.60% and the genral inflation rate as increase from 2.30% to 2.40% For the June 30, 2023, measurement date, the discount rate was updated based on the municipal bond rate as of the measurement date. 1 Historical information is only presented for measurement periods after GASB 75 implementation. 255%
224%
239%
(99)
CITY OF PLACENTIA
SCHEDULE OF CITY'S OPEB CONTRIBUTIONS
LAST SEVEN FISCAL YEARS
Fiscal Year 1
Actuarially Determined Contribution
Contributions in Relation to the Actuarially Determined Contribution
Contribution Deficiency (Excess)
Covered Payroll
Contributions as a Percentage of Covered Payroll
Notes to Schedule:
Valuation Date
Methods and Assumptions Used to Determine
Contribution Rates:
Actuarial Cost Method
Amortization Method/Period
Inflation
Salary Increases
Payroll Growth
Discount Rate
Mortality, Retirement, Disability, and Termination
Mortality Improvement
Medical Trend
2024-25 2023-24 2022-23 2021-22 2020-21 2019-20 2018-19 2017-18 $ 1,262,494 $ 1,193,153 $ 1,327,789 $ 1,132,073 $ 1,146,160 $ 1,142,314 $ 1,112,888 $ 1,107,000 (561,168) (1,172,231) (2,800,144) (1,132,073) (1,146,160) (1,142,314) (1,112,888) (1,107,000)
$ 701,326 $ 20,922 $ (1,472,355) $ - $ - $ - $ - $
$ 25,736,680 $ 24,117,472 $ 18,881,076 $ 17,448,843 $ 13,993,405 $ 12,286,189 $ 11,810,189 $ 11,466,203
2.18% 4.86% 14.83% 6.49% 8.19% 9.30% 9.42% 9.65%
6/30/2024 6/30/2022 6/30/2022 6/30/2021
Entry Age Normal
Level Percentage of Payroll
2.40% Annually
Aggregate 2.80% Annually, Merit - CaIPERS 2019 Experience Study
2.80%
5.60% (Bond Buyer 20 -Bond Index)
CaIPERS 2019 experience study
Mortality projected fully generational with Scale MP -2021 Non -Medicare — 8.20% for 2025, decreasing to an ultimate rate of 5.00% in 2031 Medicare — 7.30% for 2025, decreasing to an ultimate rate of 4.50% in 2030 ' Historical information is only presented for measurement periods after GASB 75 implementation. (100)
6/30/2020
6/30/2019
6/30/2017
6/30/2017
SUPPLEMENTARY INFORMATION
770
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771
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
DEBT SERVICE FUND (MAJOR FUND)
YEAR ENDED JUNE 30, 2025
REVENUES
Investment Earnings
Total Revenues
EXPENDITURES
Debt Service:
General Government
Principal Retirement
Interest and Fiscal Charges
Total Expenditures
Budgeted Amounts
Original Final
$ $
2,500
2,330,000
2,330,300
4,662,800
REVENUE OVER (UNDER) EXPENDITURES (4,662,800)
OTHER FINANCING SOURCES
Transfers In
Transfers Out
Total Other Financing Sources
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
4,657,704
4,657,704
Actual
Amounts
- $ 239,536
2,500
2,330,000
2,330,300
239,536
2,500
2,330,000
2,360,573
4,662,800 4,693,073
(4,662,800) (4,453,537)
4,657,704
(3,367,020)
4,483,922
(3,367,020)
1,290,684 1,116, 902
Variance with
Final Budget
Positive
(Negative)
$ 239,536
239,536
(30,273)
(30,273)
209,263
(173,782)
(173,782)
$ (5,096) $ (3,372,116) (3,336,635) $ 35,481
8,013, 519
$ 4,676,884
(101)
772
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(102)
773
NONMAJOR GOVERNMENTAL FUNDS
Miscellaneous Grants Special Revenue Fund — to account for federal, state, county, or other grants received which are not otherwise separately accounted for in other funds.
Park Development Special Revenue Fund — to account for in lieu fees charged to developers on a per unit basis for park development and rehabilitation.
Street Lighting Special Revenue Fund — to account for funds received from special assessments on property owners to provide street lighting in areas of the City not covered by the County lighting district.
Measure M Special Revenue Fund — to account for funds received by the City as a result of the voter - approved ballot measure in 1990 and extended by voter approval in 2006 to increase sales tax by'/2% in Orange County to fund transportation projects.
Storm Drain Construction Special Revenue Fund — to account for funds restricted by state law to be spent on storm drain construction, which are received from acreage fees placed on developers at the time of development. The City is divided into eight storm drain areas and funds can be expended only within the area in which funds are collected.
Thoroughfare Construction Special Revenue Fund — to account for funds restricted by City ordinance to be spent for traffic signal, bridge, and culvert construction, which are received from acreage fees placed on developers at the time of development.
Asset Seizure Special Revenue Fund — to account for monies seized from criminal activities. Revenues are restricted for use in law enforcement.
Traffic Offender Special Revenue Fund — to account for revenue generated from driving under the influence (DUI) administrative impound fees that are restricted to be spent on traffic enforcement activities, including, but not limited to, personnel, training, and equipment costs.
Supplemental Law Enforcement Special Revenue Fund — to account for the receipts and expenditures of funds resulting from the Citizen's Option for Public Safety (COPS) program, a state funded program, which are restricted for front line municipal police services.
Air Quality Special Revenue Fund — to account for the City's portion of motor vehicle registration fees collected pursuant to AB2766 passed during the 1990 state legislative session. This fee was levied to fund programs to reduce air pollution from mobile sources, such as cars, trucks, and buses.
Landscape Maintenance District 92-1 Special Revenue Fund — to account for benefit assessments levied under the Landscaping and Lighting Act of 1972, restricted for maintenance, operation, and administration of landscape improvements in certain areas of the City.
Housing and Community Development Special Revenue Fund — to account for U.S. Housing and Community Development Department grants requiring segregated fund accounting, such as the Community Development Block Grant program.
(103)
774
NONMAJOR GOVERNMENTAL FUNDS (CONTINUED)
Gasoline Tax Special Revenue Fund — to account for receipts and expenditures of money apportioned under Streets and Highways Code Sections 2103, 2105, 2106, 2107, and 2107.5 of the state of California. These funds are earmarked for maintenance, rehabilitation, or improvement of public streets.
Sewer Construction Special Revenue Fund — to account for funds restricted by state law to be spent on sewer construction, which are received from acreage fees placed on developers at the time of development.
PEG Special Revenue Fund — to account for a portion of funds received from cable television franchise fees that are restricted for use for Public, Educational, and Governmental (PEG) access channels and related programming.
Affordable Housing in Lieu Fund — to account for the receipt and expenditure of developer fees restricted for affordable housing purposes.
SB1 Gas Tax Fund — to account for the receipts and expenditures of Road Maintenance and Rehabilitation Account (RMRA) funds resulting from the Road Repair and Accountability Act of 2017 (SB 1). Funds are restricted for maintenance, rehabilitation or improvement of streets, freeways, bridges, and other transit related improvements.
North Orange County Public Safety Grant Fund — to account for the receipts and expenditures of the North Orange County Public Safety Task Force (NOC) grant funds to the City. Funds are restricted to be used for law enforcement activities, including, but not limited to, pertaining to violence prevention, intervention, and suppression activities.
Community Based Transitional Housing Grant Fund — to account for the receipts and expenditures of the Community -Based Transitional Housing Program Grant awarded by the state of California Department of Finance. Funds are restricted to be used to provide transitional support housing that provides treatment and reentry programming to individuals who will benefit from those services.
TOD Impact Fee Special Revenue Fund — to account for the receipts and expenditures of new development impact on the City's sewer collection system in the City's Transit -Oriented Development Zone (TOD). Funds are restricted within the TOD project area, including, but not limited to acquisition, financing, construction, and reconstruction of sanitary or sewer facilities and infrastructure in the TOD.
General Plan Update Fee Fund — to account for the accumulation of General Plan update fees that are charged on building permits. Expenditures are restricted to update the City General Plan or other specific plans.
Technology Impact Fee Fund — to account for the accumulation of technology fees charged on building permits. Expenditures are restricted for the acquisition and construction of technology improvements. (104)
775
NONMAJOR GOVERNMENTAL FUNDS (CONTINUED)
Housing Successor Fund — to account for the residual balance of the former low- and moderate -income housing fund of the former Placentia Redevelopment Agency, and revenues and expenditures related to such housing projects and programs.
Orangethorpe Corridor Fund — to account for financing and construction of all rail projects within the boundaries of the City.
Cal Recycle Grant Fund — to account for the receipts and expenditures related to the funding received from CalRecycle grants related to recycling and material diversion programs.
Enhanced Infrastructure Financing District (EIFD) — to account for revenue and expenditures for the EIFD established with the County of Orange. The purpose of the EIFD is to finance public capital facilities or other specified projects of community -wide significance that provide benefits to the district or the surrounding community.
Fire Impact Fee Fund — to account for revenues and expenditures associated with new development within Placentia for fire protection -related services. The purpose of the fire impact fee is to fund the cost of fire protection and emergency response facilities, apparatus, and equipment attributable to new residential and nonresidential development in the City. The fire impact fee will ensure that new development will not burden existing development with the cost of expanded facilities, apparatus, and equipment required to accommodate growth as it occurs within the City.
Animal Shelter Impact Fee Fund — to account for the revenues and expenditures associated with the cost of animal shelter facilities for new residential development in the City. The animal shelter impact fee will ensure that new development will not burden existing development with the cost of expanded animal shelter facilities required to accommodate growth as it occurs within the City.
Opioid Settlement Fund — to account for the distribution of monies received from the California Opioid Settlement Funds. Expenditures are restricted for opioid remediation activities focused on prevention, intervention, harm reduction, treatment, and recovery services.
City Capital Projects Fund — to account for and report financial resources that are restricted, committed, or assigned for the acquisition or construction of major capital facilities within the boundaries of the City.
Gas Tax Debt Service Fund — to account for the receipt and expenditure of gas tax revenues pledged for the payment of debt service on debt payable from Gas Tax proceeds. (105)
776
CITY OF PLACENTIA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2025
Special Revenue Funds
Miscellaneous Park Street Storm Drain Thoroughfare
Grants Development Lighting Measure M Construction Construction Asset Seizure ASSETS
Cash and Investments
Receivables:
Accounts
Grants
Accrued Interest
Loans and Notes
Leases
Due from Other Funds
Land Held for Resale
Total Assets
LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES
LIABILITIES
Accounts Payable
Accrued Liabilities
Deposits Payable
Retentions Payable
Due to Other Funds
Unearned Revenue
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Leases
Unavailable Revenues
Total Deferred Inflows of Resources
FUND BALANCES
Restricted
Unassigned (Deficit)
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
$ 31,957 $ 21,518 $ 16,855 $ 366,574 $ 530 $ 5,055 $ 1,427,374 753 124,744 7,443
639,999 -
$ 671,956 $ 21,518 $ 17,608 $ 491,318 $ 530 $ 5,055 $ 1,434,817 $ 511,390 $ - $ 17,608 $ 606,226 $
186,753
30,000
728,143
639,999
639,999
21,518
59,343
17,608 665,569
$ - $
- 530 5,055 1,434,817
(696,186) - - (174,251)
(696,186) 21,518
(174,251) 530 5,055 1,434,817
$ 671,956 $ 21,518 $ 17,608 $ 491,318 $ 530 $ 5,055 $ 1,434,817 (106)
CITY OF PLACENTIA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2025
Special Revenue Funds
Supplemental Landscape Housing and
Traffic Law Maintenance Community Sewer
Offender Enforcement Air Quality District 92-1 Development Gasoline Tax Construction ASSETS
Cash and Investments
Receivables:
Accounts
Grants
Accrued Interest
Loans and Notes
Leases
Due from Other Funds
Land Held for Resale
Total Assets
LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES
LIABILITIES
Accounts Payable
Accrued Liabilities
Deposits Payable
Retentions Payable
Due to Other Funds
Unearned Revenue
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Leases
Unavailable Revenues
Total Deferred Inflows of Resources
FUND BALANCES
Restricted
Unassigned (Deficit)
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
$ 4,874 $ 247,298 $ 383,943 $
1,126
- $ $
2,507 85,772
125,525 800
$ 6,000 $ 247,298 $ 383,943 $ 2,507 $ 85,772 $ 125,525 $ 800 $ - $
$ 1,500 $ 51,585 $
- 6,394
- 11,720
1,500 69,699
740 $
5,506
646,457
652,703
22,891
$
124,149
22,891 124,149
6,000 247,298 382,443 - - -
- - - (67,192) (566,931) 102,634 (123,349)
6,000 247,298 382,443 (67,192) (566,931) 102,634 (123,349) $ 6,000 $ 247,298 $ 383,943 $ 2,507 $ 85,772 $ 125,525 $ 800 (107)
CITY OF PLACENTIA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2025
Special Revenue Funds
ASSETS
Cash and Investments
Receivables:
Accounts
Grants
Accrued Interest
Loans and Notes
Leases
Due from Other Funds
Land Held for Resale
Total Assets
LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES
LIABILITIES
Accounts Payable
Accrued Liabilities
Deposits Payable
Retentions Payable
Due to Other Funds
Unearned Revenue
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Leases
Unavailable Revenues
Total Deferred Inflows of Resources
FUND BALANCES
Restricted
Unassigned (Deficit)
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
PEG
Affordable
Housing
In -Lieu
SB1 Gas Tax
Community Based
NOC Public Transitional TOD
Safety Grant Housing Grant Impact Fee
$ 105,671 $ 404 $ 1,376,974 $ 345,048 $ 75 $ 1,172,356
15,358 251,150
- 38,050
$ 121,029 $ 404 $ 1,628,124 $ 345,048 $
$ 4,152 $
$ 1,082,967 $
80,334
1,322
48,460
4,152 1,163,301 49,782
75 $ 1,210,406
$
- $ 6,138
75 - 72,847
75 78,985
- 38,050
- 38,050
116,877 404 464,823 295,266 - 1,093,371
116,877 404 464,823 295,266 1,093,371
$ 121,029 $ 404 $ 1,628,124 $ 345,048 $
(108)
75 $ 1,210,406
CITY OF PLACENTIA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2025
Special Revenue Funds
ASSETS
Cash and Investments
Receivables:
Accounts
Grants
Accrued Interest
Loans and Notes
Leases
Due from Other Funds
Land Held for Resale
Total Assets
LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES
LIABILITIES
Accounts Payable
Accrued Liabilities
Deposits Payable
Retentions Payable
Due to Other Funds
Unearned Revenue
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Leases
Unavailable Revenues
Total Deferred Inflows of Resources
FUND BALANCES
Restricted
Unassigned (Deficit)
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
General Plan Technology Housing Orangethorpe Cal Recycle Update Fee Impact Fee Successor Corridor Grant
EIFD
Fire
Impact Fee
$ 1,430,051 $ 593,275 $ 544,110 $ 168 $ 102,998 $ 294,190 $ 67,253 - 833 - - -
32 -
- 527,916 - - 16,433
- 7,039 - - -
- 1,036,761 -
$ 1,430,051 $ 593,275 $ 2,116,691 $
168 $
$ 15,234 $ 12,419 $ - $
15,234 12,419
- 6,827
1,414,817
1,414,817
168
102,998 $
294,190 $ 83,686
$ 5,961 $ 7,145 $ 54
780 -
13,248
168 19,989 7,145 54
- 16,433
6,827 - - 16,433
580,856 2,109,864
580,856 2,109,864
$ 1,430,051 $ 593,275 $ 2,116,691 $
(109)
83,009 287,045
83,009
168 $
67,199
287,045 67,199
102,998 $
294,190 $ 83,686
CITY OF PLACENTIA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2025
ASSETS
Cash and Investments
Receivables:
Accounts
Grants
Accrued Interest
Loans and Notes
Leases
Due from Other Funds
Land Held for Resale
Total Assets
LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES
LIABILITIES
Accounts Payable
Accrued Liabilities
Deposits Payable
Retentions Payable
Due to Other Funds
Unearned Revenue
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Leases
Unavailable Revenues
Total Deferred Inflows of Resources
FUND BALANCES
Restricted
Unassigned (Deficit)
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
Special Revenue Funds
Capital Debt
Projects Fund Service Fund
Animal
Shelter Opioid City Capital
Impact Fee Settlement Projects
Gas Tax
Total Other
Governmental
Funds
$ 1,435 $ 177,230 $ - $ 87,394 $ 8,804,610
16,433
340,903
956,914
639,999
32 598,832
7,039
1,036,761
$ 17,868 $ 518,133 $ - $ 87,394 $ 12,044,187
$ $ 11,410 $
90 26,388
125,000
500
147,733
90 311,031
- $ 2,334,529
40,555
125,168
213,024
1,139,703
91,708
3,944,687
6,827
16,433 318,319 - 1,029,234
16,433 318,319 - 1,036,061
1,435 199,724 87,394 8,899,745
- - (311,031) - (1,836,306)
1,435 199,724 (311,031) 87,394 7,063,439
$ 17,868 $ 518,133 $ - $ 87,394 $ 12,044,187
(110)
CITY OF PLACENTIA
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2025
Special Revenue Funds
Miscellaneous Park Street Storm Drain Thoroughfare
Grants Development Lighting Measure M Construction Construction Asset Seizure
REVENUES
Intergovernmental
Fines and Forfeitures
Investment Earnings
Charges for Services
Lease Revenue
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Community Development
Community Services
Capital Outlay
Debt Service:
Principal Retirement
Interest and Fiscal Charges
Total Expenditures
REVENUES OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
NET CHANGES IN FUND BALANCES
Fund Balance - Beginning of Year
FUND BALANCES - END OF YEAR
$ 550,188 $
$ $ 1,197,086 $
615 18,006
131,759
550,188 615 131,759 1,215,092
7,959
39,500
7,843
722,868
201,614
136,025
1,284,349
- 460,400
- 25,848
$ $ -
98,084
176 39,964
176 138,048
29,000
- 6,453
778,170 201,614 1,906,622 - 35,453
(227,982) 615 (69,855) (691,530)
69,855
- 69,855
(227,982)
615 (691,530)
(468,204) 20,903
$ (696,186) $ 21,518 $
176 102,595
176 102,595
517,279 530 4,879 1,332,222
- $ (174,251) $
530 $ 5,055 $ 1,434,817
CITY OF PLACENTIA
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2025
Special Revenue Funds
Supplemental Landscape Housing and
Traffic Law Maintenance Community Sewer
Offender Enforcement Air Quality District 92-1 Development Gasoline Tax Construction
REVENUES
Intergovernmental
Fines and Forfeitures
Investment Earnings
Charges for Services
Lease Revenue
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Community Development
Community Services
Capital Outlay
Debt Service:
Principal Retirement
Interest and Fiscal Charges
Total Expenditures
REVENUES OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
NET CHANGES IN FUND BALANCES
Fund Balance - Beginning of Year
FUND BALANCES - END OF YEAR
$
176
$ 194,663 $ 94,099 $
10,276 9,925 -
- 459,865
$ 85,772 $ 1,475,514 $
- 14,492
176 204,939 104,024 459,865 85,772 1,490,006
- 470,330 -
34,147 - 141,543
966,314
34,147 470,330 141,543 966,314
176 204,939 69,877 (10,465) (55,771) 523,692
- (194,663) - - (404,317)
- (194,663) - - (404,317)
176 10,276 69,877 (10,465) (55,771) 119,375
5,824 237,022 312,566 (56,727) (511,160) (16,741) (123,349) $ 6,000 $ 247,298 $ 382,443 $ (67,192) $ (566,931) $ 102,634 $ (123,349) (112)
CITY OF PLACENTIA
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2025
Special Revenue Funds
REVENUES
Intergovernmental
Fines and Forfeitures
Investment Earnings
Charges for Services
Lease Revenue
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Community Development
Community Services
Capital Outlay
Debt Service:
Principal Retirement
Interest and Fiscal Charges
Total Expenditures
REVENUES OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
NET CHANGES IN FUND BALANCES
Fund Balance - Beginning of Year
FUND BALANCES - END OF YEAR
PEG
Affordable Community Based
Housing NOC Public Transitional TOD
In -Lieu SB1 Gas Tax Safety Grant Housing Grant Impact Fee $ $ - $ 1,425,201 $ 239,000 $
2,635
64,119
$
28,809 7,290 - 43,125
- - 1,137
66,754 1,454,010
246,290 44,262
38,694 -
- - 23,744
- 303
1,607,056 - - 294,980
38,694 1,607,056
28,060 (153,046)
28,060
23,744 295,283
222,546 - (251,021)
(153,046) 222,546
88,817 404 617,869 72,720
(251,021)
1,344,392
$ 116,877 $ 404 $ 464,823 $ 295,266 $ - $ 1,093,371
(113)
CITY OF PLACENTIA
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2025
Special Revenue Funds
REVENUES
Intergovernmental
Fines and Forfeitures
Investment Earnings
Charges for Services
Lease Revenue
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Community Development
Community Services
Capital Outlay
Debt Service:
Principal Retirement
Interest and Fiscal Charges
Total Expenditures
General Plan Technology Housing Orangethorpe Cal Recycle Update Fee Impact Fee Successor Corridor Grant
$ 150,000 $
38,295
267,413
16,425
161,479
455,708 177,904
- 175,098
$ $
15,459
7,113
$
3,777
EIFD
Fire
Impact Fee
$ 233,999 $
3,338
1,317
44,912
22,572 - 3,777 237,337 46,229
- 6,752 -
55,493 54
204,609 - - 41,257
204,609 175,098
REVENUES OVER (UNDER) EXPENDITURES 251,099
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
NET CHANGES IN FUND BALANCES 251,099
Fund Balance - Beginning of Year 1,163,718
FUND BALANCES - END OF YEAR
2,806 22,572
2,806 22,572
578,050 2,087,292
55,493
48,009 54
- (51,716) 189,328 46,175
(51,716)
189,328 46,175
- 134,725 97,717 21,024
$ 1,414,817 $ 580,856 $ 2,109,864 $ - $ 83,009 $ 287,045 $ 67,199 (114)
CITY OF PLACENTIA
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2025
REVENUES
Intergovernmental
Fines and Forfeitures
Investment Earnings
Charges for Services
Lease Revenue
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Community Development
Community Services
Capital Outlay
Debt Service:
Principal Retirement
Interest and Fiscal Charges
Total Expenditures
REVENUES OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
NET CHANGES IN FUND BALANCES
Fund Balance - Beginning of Year
FUND BALANCES - END OF YEAR
Special Revenue Funds
Capital Debt
Projects Fund Service Fund
Animal
Shelter Opioid City Capital
Impact Fee Settlement Projects
1,435
$ 203,583 $
4,831
4,743
158,336
Gas Tax
Total Other
Governmental
Funds
$ 5,849,105
98,084
263,674
1,132,119
7,113
158,336
1,435 208,414 163,079 7,508,431
10,557
596
297,345
45,446
301,905
1,638,561
351,811
7,843
4,458,917
368,000 828,400
36,317 62,165
10,557 297,941 404,317 7,695,048
1,435 197,857 (134,862) (404,317) (186,617)
404,317 474,172
(598,980)
404,317 (124,808)
1,435 197,857 (134,862) - (311,425)
1,867 (176,169) 87,394 7,374,864
$ 1,435 $ 199,724 $ (311,031) $ 87,394 $ 7,063,439
(115)
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
MISCELLANEOUS GRANTS SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 941,801 $ 3,408,389 $ 550,188 $ (2,858,201)
EXPENDITURES
Current:
Public Safety
Community Development
Community Services
Capital Outlay
Total Expenditures
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
- 74,845 7,959 66,886
39,500 (39,500)
- 60,000 7,843 52,157
941,801 2,932,764 722,868 2,209,896
941,801 3,067,609 778,170 2,289,439
$ $ 340,780 (227,982) $ (568,762)
(468,204)
$ (696,186)
(116)
787
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
STREET LIGHTING SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Charges for Services
EXPENDITURES
Current:
Public Works
REVENUE OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES
Transfers In
Total Other Financing Sources
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ 136,244 $ 136,244 $ 131,759 $ (4,485)
280,000 280,000 201,614 78,386
(143,756) (143,756) (69,855) 73,901
143,756 143,756 69,855 (73,901)
143,756 143,756 69,855 (73,901)
$
(117)
788
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
MEASURE M SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental
Investment Earnings
Total Revenues
EXPENDITURES
Current:
Community Development
Capital Outlay
Debt Service:
Principal Retirement
Interest and Fiscal Charges
Total Expenditures
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ 1,300,538 $ 1,300,538 $ 1,197,086 $ (103,452)
- - 18,006 18,006
1,300,538 1,300,538 1,215,092 (85,446)
76,200 205,421 136,025 69,396
1,203,000 1,238,710 1,284,349 (45,639)
404,317 404,317 460,400 (56,083)
- - 25,848 (25,848)
1,683,517 1,848,448 1,906,622 (58,174)
$ (382,979) $ (547,910) (691,530) $ (143,620)
517,279
$ (174,251)
(118)
789
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
THOROUGHFARE CONSTRUCTION SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Investment Earnings
EXPENDITURES
Capital Outlay
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ - $
$
- $ 176 $ 176
4,172 4,172
$ (4,172) 176 $ 4,348
4,879
$ 5,055
(119)
790
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
ASSET SEIZURE SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Fines and Forfeitures
Investment Earnings
Total Revenues
EXPENDITURES
Current:
Public Safety
Capital Outlay
Total Expenditures
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$
- $ - $ 98,084 $ 98,084
- - 39,964 39,964
138,048 138,048
228,444 191,444 29,000 162,444
- 35,000 6,453 28,547
228,444 226,444 35,453 190,991
$ (228,444) $ (226,444) 102,595 $ 329,039
1,332,222
$ 1,434,817
(120)
791
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
SUPPLEMENTAL LAW ENFORCEMENT SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental
Investment Earnings
Total Revenues
OTHER FINANCING SOURCES (USES)
Transfers Out
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ 181,000 $ 191,000 $ 194,663 $ 3,663
- - 10,276 10,276
181,000 191,000 204,939 13,939
(181,000) (191,000) (194,663) (3,663)
$ - $ - 10,276 $ 10,276
237,022
$ 247,298
(121)
792
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
AIR QUALITY SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental
Investment Earnings
Total Revenues
EXPENDITURES
Community Development
Capital Outlay
Total Expenditures
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ 65,900 $ 65,900 $ 94,099 $ 28,199
- - 9,925 9,925
65,900 65,900 104,024 38,124
19,100 51,405 34,147 17,258
60,000 313,333 313,333
79,100 364,738 34,147 330,591
$ (13,200) $ (298,838) 69,877 $ 368,715
312,566
$ 382,443
(122)
793
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
LANDSCAPE MAINTENANCE DISTRICT 92-1 SPECIAL REVENUE FUND YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Charges for Services
EXPENDITURES
Current:
Public Works
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ 457,992 $ 457,992 $ 459,865 $ 1,873
440,000 559,400 470,330
89,070
$ 17,992 $ (101,408) (10,465) $ 90,943
(56,727)
$ (67,192)
(123)
794
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
HOUSING AND COMMUNITY DEVELOPMENT SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental
EXPENDITURES
Current:
Community Development
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ 322,998 $ 351,934 $ 85,772 $ (266,162)
322,998 322,998 141,543 181,455
$ - $ 28,936 (55,771) $ (84,707)
(511,160)
$ (566,931)
(124)
795
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
GASOLINE TAX SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental
Investment Earnings
Total Revenues
EXPENDITURES
Current:
Public Works
REVENUE OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers Out
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ 1,455,676 $ 1,455,676 $ 1,475,514 $ 19,838
- - 14,492 14,492
1,455,676 1,455,676
1,490,006 34,330
974,558 974,558 966,314 8,244
481,118 481,118 523,692 42,574
(407,750) (407,750) (404,317) 3,433
$ 73,368 $ 73,368 119,375 $ 46,007
(16, 741)
$ 102,634
(125)
796
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
PEG REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Investment Earnings
Charges for Services
Total Revenues
EXPENDITURES
Current:
General Government
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$
100,000
$
100,000
100,000 100,000
103,000 103,000
$ 2,635 $ 2,635
64,119 (35,881)
66,754 (33,246)
38,694 64,306
$ (3,000) $ (3,000) 28,060 31,060
88,817
$ 116,877
(126)
797
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
SB1 RMRA GAS TAX SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental
Investment Earnings
Total Revenues
EXPENDITURES
Capital Outlay
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ 1,343,778 $ 1,343,778 $ 1,425,201 $ 81,423
- - 28,809 28,809
1,343,778 1,343,778 1,454,010 110,232
1,597,000 1,872,397 1,607,056 265,341
$ (253,222) $ (528,619) (153,046) $ 375,573
617,869
$ 464,823
(127)
798
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
NORTH ORANGE COUNTY (NOC) PUBLIC SAFETY GRANT SPECIAL REVENUE FUND YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental
Investment Earnings
Total Revenues
EXPENDITURES
Current:
Public Safety
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$
- $ 239,000 $ 239,000 $
- - 7,290 7,290
239,000
246,290 7,290
99,000 338,000 23,744 314,256
$ (99,000) $ (99,000) 222,546 $ 321,546
72,720
$ 295,266
(128)
799
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
TOD IMPACT FEE SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Investment Earnings
Charges for Services
Total Revenues
EXPENDITURES
Current:
Public Works
Capital Outlay
Total Expenditures
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ - $ - $ 43,125 $ 43,125
- - 1,137 1,137
185,300 627,636
185,300 627,636
44,262 44,262
303 (303)
294,980 332,656
295,283 332,353
$ (185,300) $ (627,636) (251,021) $ 376,615
1,344,392
$ 1,093,371
(129)
800
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
GENERAL PLAN UPDATE FEE SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental
Investment Earnings
Charges for Services
Total Revenues
EXPENDITURES
Current:
Capital Outlay
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ - $
- $ 150,000 $ 150,000
- 38,295 38,295
267,413 267,413
455,708 455,708
325,000 652,012 204,609 447,403
$ (325,000) $ (652,012) 251,099 $ 903,111
1,163,718
$ 1,414,817
(130)
801
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
TECHNOLOGY IMPACT FEE SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Investment Earnings
Charges for Services
Total Revenues
EXPENDITURES
Current:
Public Safety
Capital Outlay
Total Expenditures
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$
- $ - $ 16,425 $ 16,425
- - 161,479 161,479
177,904 177,904
289,034 289,034 175,098 113,936
- 71,385 - 71,385
289,034 360,419 175,098 185,321
$ (289,034) $ (360,419) 2,806 $ 363,225
578,050
$ 580,856
(131)
802
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
CAL RECYCLE GRANT SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental
Investment Earnings
Total Revenues
EXPENDITURES
Current:
Public Safety
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ 144,054 $ 144,054 $
144,054 144,054
3,777
$ (144,054)
3,777
3,777 (140,277)
131,693 131,693 55,493 76,200
$ 12,361 $ 12,361 (51,716) $ (64,077)
134,725
$ 83,009
(132)
803
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
EFID SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental
Investment Earnings
Total Revenues
EXPENDITURES
Current:
General Government
Capital Outlay
Total Expenditures
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ 70,000 $ 70,000 $ 233,999 $ 163,999
- - 3,338 3,338
70,000 70,000
10,000
10,000,000
10,000
10,000,000
10,010,000 10,010,000
237,337 167,337
6,752 3,248
41,257 9,958,743
48,009 9,961,991
$ (9,940,000) $ (9,940,000) 189,328 $ 10,129,328
97,717
$ 287,045
(133)
804
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FIRE IMPACT FEE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Investment Earnings
Charges for Services
Total Revenues
EXPENDITURES
Current:
Public Safety
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$
- $ - $ 1,317 $ 1,317
- 21,902 44,912 23,010
21,902
46,229 24,327
6,000 6,000 54 5,946
$ (6,000) $ 15,902 46,175 $ 30,273
21,024
$ 67,199
(134)
805
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
ANIMAL SHELTER IMPACT FEE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Charges for Services
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$
$
- $ 491 $ 1,435 $ 944
- $ 491 1,435 $ 944
$ 1,435
(135)
806
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
OPIOID SETTLEMENT FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental
Investment Earnings
Total Revenues
EXPENDITURES
Current:
Public Safety
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$
- $ 174,387 $ 203,583 $ 29,196
- - 4,831 4,831
174,387 208,414 34,027
$ - $ 174,387
10,557 (10,557)
197,857 $ 23,470
1,867
$ 199,724
(136)
807
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
CITY CAPTAL PROJECTS FUND
YEAR ENDED JUNE 30, 2025
REVENUES
Intergovernmental
Investment Earnings
Miscellaneous
Total Revenues
EXPENDITURES
Current:
Community Development
Capital Outlay
Total Expenditures
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
Budgeted Amounts
Original
$
Final
Actual
Amounts
- $ 4,075,929 $ -
4,743
- 770,662 158,336
456,000
4,846,591
453,300
3,259,665
456,000 3,712,965
163,079
596
297,345
297,941
Variance with
Final Budget
Positive
(Negative)
$ (4,075,929)
4,743
(612,326)
(4,683,512)
452,704
2,962,320
3,415,024
$ (456,000) $ 1,133,626 (134,862) $ (1,268,488)
(176,169)
$ (311,031)
(137)
808
CITY OF PLACENTIA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
GAS TAX DEBT SERVICE FUND
YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
EXPENDITURES
Debt Service:
Principal Retirement
Interest and Fiscal Charges
Total Expenditures
REVENUE OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers In
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCE
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$ - $
- $ $
368,000 368,000 368,000
- - 36,317 (36,317)
368,000 368,000 404,317 (36,317)
(368,000) (368,000) (404,317) (36,317)
407,750 407,750 404,317 (3,433)
407,750 407,750 404,317 (3,433)
$ 39,750 $ 39,750 $ (39,750)
87,394
$ 87,394
(138)
809
CITY OF PLACENTIA
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
JUNE 30, 2025
ASSETS
Current Assets:
Cash and Investments
Total Current Assets
Noncurrent Assets:
Capital Assets, Net of Accumulated Depreciation
Total Assets
LIABILITIES
Current Liabilities:
Accounts Payable
Accrued Liabilities
Accrued Claims and Judgments - Due Within One Year
Total Current Liabilities
Noncurrent Liabilities:
Accrued Claims and Judgments Due in More
Than One Year
Total Noncurrent Liabilities
Risk Health and Equipment
Management Welfare Replacement
Total
$ 2,321,446 $ 47,012 $ 131,966 $ 2,500,424
2,321,446 47,012
2,321,446 47,012
31,742
12,545
1,800,460
1,844,747
12,764
289
131,966 2,500,424
105,198 105,198
237,164 2,605,622
44,506
12,834
1,800,460
13,053 1,857,800
5,401,379 - 5,401,379
5,401,379 - 5,401,379
Total Liabilities 7,246,126
NET POSITION
Investment In Capital Assets
Unrestricted
(4,924,680)
13,053 7,259,179
- 105,198 105,198
33,959 131,966 (4,758,755)
Total Net Position $ (4,924,680) $ 33,959 $ 237,164 $ (4,653,557) (139)
810
CITY OF PLACENTIA
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
ALL INTERNAL SERVICE FUNDS
YEAR ENDED JUNE 30, 2025
Governmental Activities
OPERATING REVENUES
Reimbursements
Sales and Service Charges
Other Revenues
Total Operating Revenues
OPERATING EXPENSES
Administration
Reinsurance Premiums
Claims
Medical and Dental Premiums
Liability Insurance Premiums
Depreciation Expense
Total Operating Expenses
Risk Health and Equipment
Management Welfare Replacement
$ 534,239 $ 909,664 $
2,807,977 630,881
3,342,216
175,802
4,255,759
2,290,200
6,721,761
OPERATING INCOME (LOSS) (3,379,545)
NONOPERATING INCOME (LOSS)
Gain on Disposal of Capital Assets
CHANGES IN NET POSITION
Net Position - Beginning of Year
NET POSITION - END OF YEAR
Total
$ 1,443,903
3,438,858
1,540,545 4,882,761
452,688 7,658 636,148
203,798 203,798
- 4,255,759
883,797 883,797
4,684 2,294,884
- 3,829 3,829
1,544,967 11,487 8,278,215
(4,422) (11,487) (3,395,454)
- - 42,619 42,619
(3,379,545) (4,422) 31,132 (3,352,835)
(1,545,135) 38,381 206,032 (1,300,722)
$ (4,924,680) $ 33,959 $ 237,164 $ (4,653,557)
(140)
811
CITY OF PLACENTIA
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
YEAR ENDED JUNE 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from Customers and Users
Cash Paid to Suppliers for Goods and Services
Cash Paid for Insurance Claims
Net Cash Provided (Used) by Operating Activities
CASH FLOWS FROM CAPITAL AND RELATED FINANCING
ACTIVITIES
Proceeds From Sale of Capital Assets
Net Cash Provided by Capital And Related
Financing Activities
NET INCREASE (DECREASE) IN CASH AND CASH
EQUIVALENTS
RECONCILIATION OF CASH AND CASH EQUIVALENTS
TO STATEMENT OF NET POSITION
Beginning of Year
Risk Health and Equipment
Management Welfare Replacement
Total
$ 3,342,811 $ 1,540,545 $ 31,524 $ 4,914,880
878,193 (1,532,598) (7,658) (662,063)
(4,255,759) - - (4,255,759)
(34,755) 7,947 23,866 (2,942)
(34,755) 7,947
2,356,201 39,065
31,133 31,133
31,133 31,133
54,999 28,191
76,967 2,472,233
End of Year $ 2,321,446 $ 47,012 $ 131,966 $ 2,500,424
RECONCILIATION OF CASH AND CASH EQUIVALENTS TO
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES
Operating Income
Adjustments to Reconcile Operating Income
to Net Cash Provided (Used) by Operating Activities:
Depreciation
Changes in Assets and Liabilities:
(Increase) Decrease in Accounts Receivables
(Increase) Decrease in Prepaids
Increase (Decrease) in Accounts Payable
Increase (Decrease) in Accrued Liabilities
Increase (Decrease) in Claims Payable
Net Cash Provided (Used) by Operating Activities
$ (3,379,545) $ (4,422) $ (11,487) $ (3,395,454)
3,829 3,829
595 - 31,524 32,119
- 1,309 1,309
(32,760) 11,062 (21,698)
(3,968) (2) (3,970)
3,380,923 - 3,380,923
$ (34,755) $ 7,947 $ 23,866 $ (2,942)
(141)
812
FIDUCIARY FUNDS
CUSTODIAL FUNDS
Community Facilities District Fund — to account for the Community Facilities District No. 89-1 (East Placentia). This fund accounts for the service of $25,000,000 of Community Facilities District No. 89-1 (East Placentia) Special Tax Bonds issued to finance the construction of street and drainage infrastructure improvements and to fund development of a 13 -acre park/recreation sports complex to benefit properties within the District.
Public Safety CFD 2014-01 Fund — to account for revenues and expenditures to provide public safety services associated with new development within Placentia including, but not limited to, police protection, fire protection, and ambulance and paramedic services. The services would be partially paid for through the levy of a Special Tax on real property.
TOD District CFD Fund — to account for the Community Facilities District 2018-1 (Transit Oriented District) providing a special tax to pay for certain public facilities within such community facilities district, to levy such special tax, and to provide non -General Fund and sustainable funding source to pay for the ongoing maintenance and repairs of the public streetscape improvements constructed within the Transit Oriented District.
(142)
813
CITY OF PLACENTIA
COMBINING STATEMENT OF ASSETS AND LIABILITIES
FIDUCIARY FUNDS
JUNE 30, 2025
Custodial Funds
ASSETS
Cash and Investments
Miscellaneous Receivables
Total Assets
LIABILITIES
Accounts Payable
Accrued Liabilities
Total Liabilities
NET POSITION (DEFICIT)
Restricted for Individuals, Organizations,
and Other Governments
Total Net Position (Deficit)
Community
Facilities Public Safety TOD District
District CFD 2014-01 CFD
Total
$ 52,204 $ 483,661 $ 137,738 $ 673,603
- 726 726
52,204 484,387
137,738 674,329
- 1,491 105 1,596
14 14
- 1,505 105 1,610
52,204 482,882
137,633 672,719
$ 52,204 $ 482,882 $ 137,633 $ 672,719
(143)
814
CITY OF PLACENTIA
STATEMENT OF CHANGE IN FIDUCIARY NET POSITION
FIDUCIARY FUNDS
YEAR ENDED JUNE 30, 2025
Custodial Funds
ADDITIONS
Charges for Services
Investment Earnings
Total Additions
DEDUCTIONS
Administrative Expenses
Contributions to City
Total Deductions
CHANGE IN NET POSITION
Net Position - Beginning of Year
NET POSITION - END OF YEAR
Community
Facilities Public Safety TOD District
District CFD 2014-01 CFD
Total
$ - $ 202,949 $ 95,542 $ 298,491
1,493 11,857 2,284 15,634
1,493 214,806
97,826 314,125
- 2,461 12,155 14,616
42,281 42,281
- 44,742 12,155 56,897
1,493 170,064
50,711 312,818
85,671 257,228
51,962 415,491
$ 52,204 $ 482,882 $ 137,633 $ 672,719
(144)
815
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(145)
816
STATISTICAL SECTION
817
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818
CITY OF PLACENTIA
DESCRIPTION OF STATISTICAL SECTION CONTENTS
This part of the City of Placentia's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information say about the government's overall financial health.
Contents: Page
Financial Trends — These schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time.
145
Revenue Capacity — These schedules contain information to help the reader assess the City's most significant local revenue source, the property tax. 151 Debt Capacity— These schedules present information to help the reader assess the affordability of the City's current level of outstanding debt and the City's ability to issue additional debt in the future.
Demographic and Economic Information — These schedules offer demographics and economic indicators to help the reader understand the environment within which the City's financial activities take place.
Operating Information — These schedules contain service and infrastructure data to help the reader understand how the information in the City's financial report related to the services the City provides and activities it performs. 155
158
161
(146)
819
CITY OF PLACENTIA
NET POSITION BY COMPONENT
LAST TEN FISCAL YEARS
(ACCRUAL BASIS OF ACCOUNTING)
(AMOUNTS EXPRESS IN THOUSANDS)
Fiscal Year
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Governmental Activities:
Net Investment in Capital Assets
Restricted
Unrestricted
Total Governmental Activities Net Position
$ 66,799 $ 67,960 $ 67,915 $ 72,176 $ 81,106 $ 86,061 $ 86,045 $103,757 $ 114,777 $ 118,813 7,681 6,199 5,819 6,090 7,732 21,456 20,175 18,361 21,767 20,962 (30,490) (32,780) (52,089) (50,858) (53,352) (68,263) (23,396) (43,543) (62,344) (66,583) S 43,990 $ 41,379 $ 21,645 S 27,408 $ 35,486 S 39,254 $ 82,824 $ 78,575 $ 74,200 $ 73,192 Business -Type Activities:
Net Investment in Capital Assets $ 10,765 $ 10,303 $ 9,778 $ 9,275 $ 8,748 $ 8,221 $ 7,694 $ 7,166 $ 12,471 $ 11,836 Unrestricted 845 1,066 (1,514) (2,055) (2,682) 361 1,842 1,245 1,895 3,638 Total Business -Type Activities Net Position $ 11,610 $ 11,369 $ 8,264 $ 7,220 $ 6,066 $ 8,582 $ 9,536 $ 8,411 $ 14,366 $ 15,474 Primary Government:
Net Investment in Capital Assets
Restricted
Unrestricted
$ 78,263 $ 77,693 $ 81,451 $ 89,854 $ 94,282 $ 93,739 $ 110,923 $ 127,248 $ 127,248 $ 130,649 6,199 5,819 6,090 7,732 21,456 20,175 18,361 21,767 21,767 20,962 (31,714) (53,603) (52,913) (56,034) (67,902) (21,554) (42,298) (60,449) (60,449) (62,945) Total Primary Government Net Position $ 52,748 $ 29,909 $ 34,628 $ 41,552 $ 47,836 $ 92,360 $ 86,986 $ 88,566 $ 88,566 $ 88,666 Source: City of Placentia, Finance Department
(147)
CITY OF PLACENTIA
CHANGES IN NET POSITION
LAST TEN FISCAL YEARS
(ACCRUAL BASIS OF ACCOUNTING)
(AMOUNTS EXPRESS IN THOUSANDS)
Fiscal Year
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
PROGRAM REVENUE
Governmental Activities:
Charges for Services:
General Government
Public Safety
Public Works
Community Development
Community Services
Operating Grants
Capital Grants and Contributions
Total Governmental Activities Program
Revenues
Business -Type Activities:
Charges for Services:
Refuse
Sewer Maintenance
Total Business -Type Activities Program
Revenues
Total Primary Government Program
Revenues
EXPENSES
Governmental Activities:
General Government
Public Safety
Public Works
Community Development
Community Services
Interest on Long -Term Debt
Total Governmental Activities
Business -Type Activities:
Refuse
Sewer Maintenance
Total Business -Type Activities
$ 1,956 $ 2,136 $ 2,206 $ 2,356 $ 2,651 $ 2,754 $ 2,812 $ 3,215 $ 3,298 $ 3,106 1,340 1,092 1,078 742 771 567 928 877 913 1,147
679 597 670 1,100 776 917 877 811 856 987
1,211 1,074 1,251 1,011 1,670 2,014 1,598 1,700 1,509 2,580 221 194 314 213 145 148 253 337 497 397
4,744 4,637 4,575 7,709 9,588 6,103 6,499 15,643 9,937 7,575 145 465 4.528 1,117 2.994 8.027 1.850 5.025 1.938 4.765 10,296 10,195 14,622 14,248 18,595 20,530 14,817 27,608 18,948 20,557 2,890 2,958 3,039 3,148 3,252 3,688 3,732 4,283 4,813 5,241 688 722 760 722 723 783 791 1.448 1.511 1.688
3,578 3,680 3,799 3,870 3,975 4,471 4,523 5,731 6,324 6,929 13,874 13,875 18,421 18,118 22,570 25,001 19,340 33,339 25,272 27,486 5,343 10,579 10,046 9,346 11,654 12,850 9,242 19,220 17,490 18,873 18,556 19,188 18,114 20,547 26,139 26,045 (5,341) 39,863 27,471 28,181 7,445 7,246 4,328 2,465 4,926 9,846 3,159 11,632 10,729 13,857 1,373 1,904 1,068 1,502 1,640 2,893 1,554 2,425 2,563 2,988 1,263 1,318 1,690 4,401 1,757 2,580 1,685 3,755 4,254 4,655 837 783 717 588 475 765 2,591 2,372 2,960 2,605
34,817 41,018 35,963 38,849 46,591 54,979 12,890 79,267 65,467 71,159 2,555 2,571 3,034 3,164 3,127 3,287 3,421 4,341 4,888 4,920 1,418 954 1,943 1,593 1,836 (1,365) 150 2,533 1,467 1,005 3,973 3,525 4,977 4,757 4,963 1,922 3,571 6,874 6,355 5,925 Total Primary Government Expenses 38,790 44,543 40,940 43,606 51,554 56,901 16,461 86,141 71,822 77,084
NET REVENUE (EXPENSE)
Governmental Activities (30,823) (21,341) (24,601) (27,996) (34,449) 1,927 (51,659) (46,519) (46,519) (50,602) Business -Type Activities 155 (1,178) (887) (988) 2,549 952 (1,143) (31) @1) 1,004 Total Primary Government Net Expense (30,668) (22,519) (25,488) (28,984) (31,900) 2,879 (52,802) (46,550) (46,550) (49,598) (148)
CITY OF PLACENTIA
CHANGES IN NET POSITION (CONTINUED)
LAST TEN FISCAL YEARS
(ACCRUAL BASIS OF ACCOUNTING)
(AMOUNTS EXPRESS IN THOUSANDS)
Fiscal Year
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
GENERAL REVENUE AND OTHER
CHANGES IN NET POSITION
Governmental Activities:
Taxes:
Property
Sales and Use
Utility Users
Franchise
Other
Miscellaneous
Investment Income
Other
Special Item
Contribution from successor Agency
Contribution from Custodial Fund
Extraordinary Item
Transfers
Total Government Activities
Business -Type Activities:
Investment Income
Special Item
Other
Transfers
Total Business -Type Activities
Total Primary Government
CHANGE IN NET POSITION
Governmental Activities
Business -Type Activities
Total Primary Government
Source: City of Placentia, Finance Department
$ 13,259 $ 13,972 $ 14,560 $ 15,478 $ 15,981 $ 16,752 $ 17,191 $ 18,809 $ 20,761 $21,951 6,848 7,020 6,948 8,184 13,141 15,113 17,248 17,530 16,870 17,005 2,750 2,637 2,545 2,461 2,362 2,503 2,689 3,200 3,048 3,235 2,332 2,244 2,270 2,340 2,358 2,466 2,651 2,870 3,076 3,164 1,258 1,365 1,316 1,267 1,047 1,022 1,842 2,091 2,146 2,095 35 41 125 136 447 280 256 2,544 282 461
34 31 72 227 312 13 (297) 378 1,901 1,683
- - - 215 - -
- - 19 -
- 30 -
(1,035) - - -
646 402 251 268 192 39 - (5,940)
26,127 27,712 28,087 30,361 36,074 38,218 41,580 47,422 42,144 49,594 7 7 24 34 27 4 2 19 45 104
75 - -
(646) (402) (251) (192) (192) @9) 5,940 -
(564) (395) (227) (158) (165) (35) 2 19 5,985 104
25,563 27,317 27,860 30,203 35,909 38,183 41,582 47,441 48,129 49,698 6,371 3,486 2,365 1,625 40,145 (10,079) 903 (4,375) (4,375) (1,008) (1,573) (1,114) (1,146)
S 4,798 $ 2,372 $ 1,219
(149)
2,384 917 (1,141) (12)
5,954
5,954 1,108
4,009 $ 41,062 $ (11,220) $ 891 $ 1,579 $ 1,579 $ 100
CITY OF PLACENTIA
FUND BALANCES OF GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(MODIFIED ACCRUAL BASIS OF ACCOUNTING)
(AMOUNTS EXPRESS IN THOUSANDS)
Fiscal Year
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
General Fund:
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total General Fund
All Other Governmental Funds:
Nonspendable
Restricted
Unrestricted
$ 3,881 $ 3,354 $ 4,955 $ 4,706 $ 3,734 $ 3,347 $ 2,522 $ 1,454 $ 896 $ 472 1,030 1,024 1,019 571 555 556 2 805 1,644 1,334
3,600 3,600 3,400 4,528 5,811 6,434 13,856 4,535 1,037 1,997 286 40 - - - - - - - 1,396
72 56 (1,346) 543 3,866 9,894 7,205 19,919 14,795 9,078 $ 8,869 $ 8,074 $ 8,028 $ 10,348 $ 13,966 $ 20,231 $ 23,585 $ 26,713 $ 18,372 $ 14,277 $ - $ - $ - $ - $ - $ 10 $ 6 $ 5 $ 3 $ 3
6,651 5,175 4,800 5,518 7,177 20,900 20,173 17,555 19,117 18,729 - (368) (531) (1,045) (1,552) (1,406) (2,754) (2,577) (3,981) (4,017) Total All Other Governmental Funds $ 6,651 $ 4,807 $ 4,269 $ 4,473 $ 5,625 $ 19,504 $ 17,425 $ 14,983 $ 15,139 $ 14,715 Source: City of Placentia, Finance Department
(150)
CITY OF PLACENTIA
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(MODIFIED ACCRUAL BASIS OF ACCOUNTING)
(AMOUNTS EXPRESS IN THOUSANDS)
Fiscal Year
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
REVENUES
Property Tax
Sales Tax
Other Tax
Intergovernmental
Licenses and Permits
Fines and Forfeitures
Investment Income
Charges for Services
Other
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Community Development
Community Services
Capital Outlay
Debt Service:
Principal
Interest
Debt Issuance Costs
Total Expenditures
EXCESS OF REVENUE OVER (UNDER)
EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Issuance of Debt
Other
Total Other Financing Sources (Uses)
EXTRAORDINARY ITEMS
NET CHANGE IN FUND BALANCES
Ratio of Total Debt Service Expenditures to
Total Noncapital Expenditures
Source: City of Placentia, Finance Department
$ 13,259 $ 13,972 $ 14,551 $ 15,478 $ 15,981 $ 16,752 $ 17,191 $ 18,809 $ 20,761 $21,717 7,257 7,020 6,948 10,646 13,141 15,113 17,248 17,530 16,870 17,005 6,318 6,222 6,043 3,548 5,708 5,993 7,182 8,090 8,216 8,494 2,998 3,572 6,487 7,530 8,459 6,700 6,498 16,569 9,704 9,870 1,733 1,572 1,702 1,922 2,454 2,828 2,440 2,644 2,536 3,203 1,154 1,297 592 613 819 314 503 1,777 639 863
34 32 69 228 307 13 (297) 377 1,900 1,683
2,216 1,743 2,197 2,003 4,056 9,334 2,267 2,387 2,446 2,736 2,108 1,892 2,151 2,289 2,327 2,536 3,581 5,783 3,374 5,348 37,077 37,322 40,740 44,257 53,252 59,583 56,613 73,966 66,446 70,919 6,571 10,450 8,109 7,889 8,389 10,995 12,105 15,771 15,493 16,634 17,880 18,436 19,156 18,718 23,442 16,938 17,476 19,139 21,034 23,908 4,824 5,050 5,951 6,078 5,938 5,049 5,262 6,005 6,734 6,813 952 1,858 1,291 1,171 1,693 2,245 2,007 2,165 2,448 2,247 1,191 1,292 1,526 4,405 1,793 1,547 2,305 2,623 3,441 3,296 1,262 2,340 2,971 1,047 11,534 6,178 22,104 29,242 14,920 1,333 1,654 1,855 2,105 1,177 1,904 3,135 4,760 5,014 5,470 837 783 717 587 475 765 489 2,356 2,785 2,623
- - - 182 - - -
34,850 41,863 41,576 42,000 54,441 45,621 42,961 74,923 86,191 75,911 2,227 (4,541) (836) 2,257 (1,189) 13,962 13,652 (957) (19,745) (4,992) 7,000 8,010 4,778 1,515 1,882 2,849 4,034 6,938 11,010 8,520 (6,354) (7,607) (4,527) (1,247) (1,690) (2,811) (4,034) (6,938) (11,010) (8,520) 251 - - 5,766 57,583 2,189 1,643 11,207 475
- - (51,441) (2,069) - 352 -
897 403 251 268 5,958 6,180 120 1,643 11,559 475
1,500
$ 3,124 $ (2,638) $ (585) $ 2,525 $ 4,769 $ 20,142 $ 13,772 $ 686 S (8,186) $ (4,517)
6.49% 6.91% 6.57% 7.14% 7.04% 4.00% 7.26% 15.57% 15.87% 15.30% (151)
CITY OF PLACENTIA
REVENUES BY SOURCE - GENERAL FUND
LAST TEN FISCAL YEARS
(MODIFIED ACCRUAL BASIS OF ACCOUNTING)
Sales Licenses Fines, Use of Inter- Charges
Property and Other and Forfeitures, Money and Investment Leases Governmental for Current Other Fiscal Year Taxes Use Taxes Taxes Permits and Penalties Property Earnings* and Rents* Revenue Services Revenues Totals 2016 $ 13,259,241 $ 7,257,004 $ 3,550,183 $ 1,733,049 $ 542,253 $ 2017 13,971,691 7,019,906 3,578,424 1,571,584 587,005
2018 14,551,076 6,948,279 6,042,998 1,701,878 562,390
2019 15,477,587 10,646,101 3,547,567 1,922,689 438,581
2020 15,980,879 13,140,914 5,708,333 2,453,827 418,752
2021 16,752,112 15,112,657 5,993,621 2,827,761 290,534
2022 17,191,426 17,247,980 7,182,055 2,440,102 503,302
2023 18,738,855 17,530,357 8,160,127 2,643,941 457,065
2024 20,706,482 16,869,472 8,271,106 2,535,885 548,960
2025 21,717,144 17,005,105 8,493,994 3,202,633 764,685
$ 24,157 $ 670,631 $ 466,271 $ 1,091,250 $ 1,053,220 $ 29,647,259 - 3,645 1,199,161 297,831 863,387 629,737 29,722,371
- 31,161 1,255,240 252,963 1,284,507 708,662 33,339,154 164,724 1,230,532 353,354 1,070,821 944,874 35,796,830
- 170,567 1,211,622 701,864 885,206 885,076 41,557,040
(28,258) 1,079,979 9,743 879,298 490,006 43,407,453
- (323,152) 1,422,831 952,389 1,263,215 785,684 48,665,832 67,366 1,572,445 8,640,895 1,364,054 1,385,763 60,560,868 1,175,860 1,677,641 2,717,309 1,441,304 1,125,980 57,069,999 1,070,564 1,579,509 533,191 1,604,224 706,522 56,677,571 * Investment Earnings and Rents previously reported as Use of Money and Property Leases previously reported as Other Revenues.
Source: City of Placentia, Annual Comprehensive Financial Reports (152)
CITY OF PLACENTIA
ASSESSED VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
(AMOUNTS EXPRESS IN THOUSANDS)
City
Taxable
Public Assessed Direct
Fiscal Year Secured Utility Unsecured Value Rate
2016 $ 5,706,871 292 $ 169,843 $ 5,877,006 0.1644
2017 5,948,117 292 186,698 6,135,107 0.1644
2018 6,259,165 292 183,716 6,443,173 0.1644
2019 6,564,402 544 210,294 6,775,240 0.1644
2020 6,862,623 544 189,948 7,053,115 0.1644
2021 7,160,394 544 191,112 7,352,050 0.1644
2022 7,373,165 544 187,422 7,561,131 0.1644
2023 7,915,501 738 213,554 8,129,793 0.1644
2024 8,744,760 738 234,484 8,979,982 0.1644
2025 9,223,877 738 268,368 9,492,983 0.1644
Note:
In 1978, the voters of the State of California passed Proposition 13 which limited property taxes to a total maximum rate of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased by an "inflation factor" (limited to a maximum increase of 2%). With few exceptions, property is only re -assessed at the time that it is sold to a new owner. At that point, the new assessed value is reassessed at the purchase price of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.
Source: County of Orange
(153)
826
CITY OF PLACENTIA
DIRECT AND OVERLAPPING PROPERTY TAX RATES
LAST TEN FISCAL YEARS
Fiscal Year
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Placentia City
Placentia City Street Lighting Reorg.
Direct City Rate
Overlapping Rates:
OC Water District - Water Reserve
OC Vector Control
OC Transportation Authority
Orange County Water District
OC Harbor Beaches & Parks
OC Department of Education
Orange County Flood Control
OC Sanitation District #2 Operating
Placentia Library District
Orange County General Fund
North OC Comm. College General Fund
Education Revenue Augmentation Fund
Placentia Yorba Linda Unified Gen. Fund
Total Overlapping Rate
Metropolitan Water District
Placentia Yorba Linda Unified
N. Orange County Community College
Total Rate
Note:
0.1340 0.1340 0.1340 0.1340 0.1340 0.1340 0.1340 0.1340 0.1340 0.1340
0.0304 0.0304 0.0304 0.0304 0.0304 0.0304 0.0304 0.0304 0.0304 0.0304
0.1644 0.1644 0.1644 0.1644 0.1644 0.1644 0.1644 0.1644 0.1644 0.1644
0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001
0.0011 0.0011 0.0011 0.0011 0.0011 0.0011 0.0011 0.0011 0.0011 0.0011
0.0026 0.0026 0.0026 0.0026 0.0026 0.0026 0.0026 0.0026 0.0026 0.0026
0.0080 0.0080 0.0080 0.0080 0.0080 0.0080 0.0080 0.0080 0.0080 0.0080
0.0144 0.0144 0.0144 0.0144 0.0144 0.0144 0.0144 0.0144 0.0144 0.0144
0.0171 0.0171 0.0171 0.0171 0.0171 0.0171 0.0171 0.0171 0.0171 0.0171
0.0186 0.0186 0.0186 0.0186 0.0186 0.0186 0.0186 0.0186 0.0186 0.0186
0.0309 0.0309 0.0309 0.0309 0.0309 0.0309 0.0309 0.0309 0.0309 0.0309
0.0376 0.0376 0.0376 0.0376 0.0376 0.0376 0.0376 0.0376 0.0376 0.0376
0.0579 0.0579 0.0579 0.0579 0.0579 0.0579 0.0579 0.0579 0.0579 0.0579
0.0655 0.0655 0.0655 0.0655 0.0655 0.0655 0.0655 0.0655 0.0655 0.0655
0.1876 0.1876 0.1876 0.1876 0.1876 0.1876 0.1876 0.1876 0.1876 0.1876
0.3943 0.3943 0.3943 0.3943 0.3943 0.3943 0.3943 0.3943 0.3943 0.3943
0.8356 0.8356 0.8356 0.8356 0.8356 0.8356 0.8357 0.8356 0.8357 0.8357
0.0035 0.0035 0.0035 0.0035 0.0035 0.0035 0.0035 0.0035 0.0035 0.0070
0.0567 0.0548 0.0553 0.0526 0.0485 0.0603 0.0485 0.0464 0.0424 0.0341
0.0304 0.0289 0.0293 0.0283 0.0241 0.0320 0.0288 0.0278 0.0172 0.0174
1.0906 1.0871 1.0881 1.0844 1.0761 1.0958 1.0809 1.0777 1.0632 1.0586 In 1978, the voters of the State of California passed Proposition 13 which set the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for which the subject property resides within.
Source: HdL Coren Cone
(154)
CITY OF PLACENTIA
PRINCIPAL PROPERTY TAX PAYERS
CURRENT AND NINE YEARS AGO
(AMOUNTS EXPRESS IN THOUSANDS)
Taxpayer
310 S Jefferson Street Ground Owner LP
MG Herald Apartments LLC
Jefferson Centerpoint LLC
Placentia 422
Gelt Cherry Street Fee Owner LLC
Villa Angelina Apartment Fund LTD
GRI Village Center LLC
HP Bradford Terrace LLC
NMC Placentia LLC
Sedona-Placentia Owner LLC
Total
Source: HdL Coren Cone
2025
Taxable Estimated
Assessed Total
Value Tax
$184,130 $ 1,841
137,144 1,371
71,687 717
64,434 644
63,150 632
61,292 613
60,588 606
45,778 458
42,265 423
42,076 421
Percent of
Total City
Taxable
Assessed
Value
Taxpayer
1.94 % Placentia Place Apartments LLC
1.44 Placentia 422
.76 Villa Angellina Apartment Fund LTD
.68 Villa Tierra Apartments LLC
.67 Placentia -Linda Hospital Inc.
.65 Arlon Graphics LLC
.64 Ora Bradford Court 127 LLC
.48 Reef Imperial Rose Inc.
.45 Donahue Schriber Realty Group
.44 Ronald and Martha Beltran
$ 772,544 $ 7,725 8.14 %
(155)
Total
2016
Taxable
Assessed
Value
Percent of
Total City
Estimated Taxable
Total Assessed
Tax Value
$82,759 $ 828 1.41 %
54,590 546 .93
52,229 522 .89
35,839 358 .61
35,650 357 .61
34,769 348 .59
27,429 274 .47
27,232 272 .46
26,522 265 .45
26,213 262 .45
$ 403,232 $ 4,032 6.86 %
CITY OF PLACENTIA
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
Fiscal Year
Note:
Collected within the Collections
Taxes Levied Fiscal Year of Levy in
for the Percent Subsequent
Fiscal Year Amount of Levy Years
Total Collections to Date
Amount
Percent
of Levy
2016 $ 12,742,715 $ 13,529,800 106.18% N/A N/A N/A
2017 12,831,914 12,865,221 100.26 N/A N/A N/A
2018 13,471,679 13,421,607 99.63 N/A N/A N/A
2019 14,144,498 14,244,954 100.71 N/A N/A N/A
2020 14,623,234 14,675,128 100.35 N/A N/A N/A
2021 15,211,067 15,384,500 101.14 N/A N/A N/A
2022 15,734,335 15,777,022 100.27 N/A N/A N/A
2023 17,044,617 16,794,264 98.53 N/A N/A N/A
2024 18,351,232 18,092,765 98.59 N/A N/A N/A
2025 19,347,943 19,065,082 98.54 N/A N/A N/A
The amounts presented include City property taxes, In -Lieu Vehicle License Fees, and "triple flip" property tax revenue in lieu of sales tax. 2016 includes final payment of "triple flip" property tax revenue.
Source: County of Orange Auditor -Controller
(156)
829
CITY OF PLACENTIA
RATIO OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
(AMOUNTS EXPRESS IN THOUSANDS, EXCEPT PER CAPITA)
Fiscal Year
Governmental Activities
Business -Type
Activities
Tax Allocation Certificates Leases & Total Percent of Percent of Bonds Loans of Subscriptions Loans Primary Assessed Per Personal and Notes Payable Participation Payable Payable Government Valuation Capita Income 2016 $ 3,063 $ 218 $ 8,697 $ $
2017 2,242 162 8,237
2018 1,226 1,325 7,737
2019 - 1,144 7,680
2020 - 6,154 7,095 -
2021 58,266 5,587 2,845 -
2022 55,970 8,657 - 651
2023 53,755 7,549 - 2,838
2024 60,710 5,566 - 4,411
2025 57,670 4,285 454 3,444
Source: City of Placentia, Finance Department
(157)
$ 11,978 .217
10,641 .181
10,288 .168
8,824 .137
13,249 .196
66,698 .946
65,278 .888
64,142 .789
70,687 .787
65,853 .694
230 .78
204 .68
197 .64
167 .51
253 .73
1,295 3.51
1,276 3.33
1,222 3.04
1,353 3.05
1,270 2.73
CITY OF PLACENTIA
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITY DEBT
JUNE 30, 2025
2023-24 Assessed Valuation (in thousands):
Successor Agency Incremental Valuation (in thousands):
Adjusted Assessed Valuation (in thousands):
Direct Debt:
Placentia Capital Lease (Radio)
Placentia Fire Lease #1
Placentia Fire Lease #2
Placentia Melrose Easement
Placentia Capital Lease (Electric Vehicles)
Placentia OCTA Advance
Placentia Fire UAL Loan Payoff
Placentia Motorola Equipment
Placentia 2022 Lease Agreement
Placentia 2021 Installment Sale Agreement
Placentia PFA 2020A Lease Revenue Bonds
Placentia PFA 2023A Lease Revenue Bonds
Total Direct Debt
Overlapping Tax and Assessment Debt:
Placentia -Yorba Linda Unified 2002, 2008, 2012 Bond
Metropolitan Water District
N. OC Community College 2002, 2014 Bond
Orange County General Fund Obligations
Orange County Board of Education COP
North Orange County Regional Occupation Program COP
Placentia-Yorba Linda Unified School District COP
Total Overlapping Debt
$ 10,179,722
690,084
$ 9,489,638
City's Share
Total Debt % Applicable of Debt
June 30, 2025 (1) June 30, 2025
$ 204,512 100.00 % $ 204,512
1,756,379 100.00 1,756,379
920,267 100.00 920,267
157,266 100.00 157,266
66,483 100.00 66,483
254,583 100.00 254,583
- 100.00 -
1,100,683 100.00 1,100,683
887,280 100.00 887,280
1,940,000 100.00 1,940,000
46,340,000 100.00 46,340,000
9,050,000 100.00 9,050,000
62,677,453
$189,367,472 23.228 % $ 43,986,276
17,155,000 .233 39,971
275,134,676 5.252 14,450,073
429, 065, 000 1.171 5,024,351
9,120, 000 1.171 106,795
6,880,000 5.401 371,589
75,175,000 23.228 17,461,649
81,440,704
Total Direct and Overlapping Debt $ 144,118,157
(1) Percentage of overlapping agency's assessed valuation located within boundaries of the city.
Ratios of Direct vs. Overlapping Debt:
Direct Debt
Overlapping Debt
Total Debt
Ratios of Debt to Assessed Valuation:
Direct Debt
Overlapping Debt
Total Debt
Source: HdL, Coren Cone
43.49 56.51
100.00 %
.66 %
.86
1.52 %
(158)
831
CITY OF PLACENTIA
LEGAL DEBT MARGIN INFORMATION
LAST TEN FISCAL YEARS
Legal Debt Margin Calculation for the Current Year:
Assessed Value
Debt Limit (3.75% of Assessed Value)
Debt Applicable to Limit
Legal Debt Margin - Current Year
Fiscal
Year
Note:
Debt
Limit
Debt
Applicable
to Limit
2016 $ 220,387,742 $
2017 230,066,512
2018 248, 734, 552
2019 261,192, 507
2020 271,595,021
2021 283,280,448
2022 291,210, 596
2023 312,538,330
2024 344,780,034
2025 364,555,253
Legal
Debt
Margin
$ 220,387,742
230,066,512
230,066,512
248, 734, 552
271,595,021
283,280,448
291,210, 596
312,538,330
344,780,034
364,555,253
$ 9,721,473,416
364,555,253
$ 364,555,253
Debt as
Percentage
of Limit
-%
The City charter includes a debt limit of 15%; however, at the time the charter was established, only 25% of the market value was used. For the purpose of determining the debt limit, the City is following the intent of the charter and reducing the debt limit to 3.75% of assessed valuation.
Source: City of Placentia, Finance Department
(159)
832
CITY OF PLACENTIA
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN CALENDAR YEARS
(PERSONAL INCOME IN THOUSANDS, EXCEPT PER CAPITA)
Per Capita
Calendar City Personal Personal Unemployment
Year Population Income Income Rate
2015 52,263 $ 1,567,115 $ 29,985
2016 52,268 1,614,628 30,891
2017 52,755 1,716,075 32,529
2018 52,333 1,805,719 34,504
2019 51,494 1,899,759 36,892
2020 51,173 1,959,175 38,285
2021 51,204 2,024,718 39,542
2022 52,507 2,109,099 40,167
2023 52,226 2,319,890 44,420
2024 53,982 2,413,284 44,705
Sources: City Population - State Department of Finance
Unemployment Date - California Employment Development Department HdL, Coren Cone
5.1 %
4.5 3.5
3.0 2.9
8.7 5.8
3.2 3.6
4.0 (160)
833
CITY OF PLACENTIA
TAXABLE SALES BY CATEGORY
LAST TEN CALENDAR YEARS
(AMOUNTS EXPRESS IN THOUSANDS)
Calendar Year
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Apparel Stores
General Merchandise
Food Stores
Eating and Drinking Places
Building Materials
Auto Dealers and Supplies
Service Stations
Other Retail Stores
All Other Outlets
Note:
$ - $ - $ - $ - $ - $ - $ 21,114 $21,854 $23,060 $24,984 6,635 6,759 7,178 7,440 7,649 8,208 7,907 7,535 4,620 3,581 18,529 17,919 17,102 17,530 18,363 20,539 19,152 20,029 20,552 20,924 79,730 84,676 85,373 83,083 87,912 77,897 101,361 105,185 106,523 107,629 38,156 55,996 60,664 68,803 74,767 69,616 89,608 98,051 101,532 126,433 105,341 107,146 104,963 82,789 72,781 71,301 99,240 118,317 116,350 110,930 70,961 62,495 68,101 74,924 73,200 49,981 72,505 95,585 86,634 78,270 60,419 70,775 74,578 75,597 76,411 65,702 62,668 64,773 44,736 51,656 255,719 240,166 234,501 245,115 268,067 269,831 278,458 292,479 272,051 271,263 Total $ 635,490 $ 645,932 $ 652,460 $ 655,281 $ 679,150 $ 633,075 $ 752,013 $ 823,808 $ 776,058 $ 795,670 Due to confidentiality issues, the names of the ten largest revenue payers are not available.
The categories presented are intended to provide alternative information regarding the sources of the City's sales tax revenue.
The category "Apparel Stores" was added in the FY21/22 ACFR Source: State of California Board of Equalization and The HdL Companies (161)
CITY OF PLACENTIA
BUDGETED FULL-TIME EMPLOYEES BY DEPARTMENT
LAST TEN FISCAL YEARS
Fiscal Year
Department
City Clerk
City Administrator
Administrative Services (formerly Administration)
Finance
Development Services
Police
Fire and Life Safety
Public Works
Community Services
Total
Note:
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
2.00 2.00 2.00
7.00 7.00 11.50
7.00 7.00 8.00
4.00 4.75 6.50
69.50 74.50 80.00
19.00 20.25 20.75
6.00 6.50 7.25
99.00 105.00 114.50
2.00 2.00 2.00 2.00 -
- - - 5.00 5.00
9.50 10.50 25.45 26.45 29.65 32.00 32.00
8.00 8.00 9.00 9.00 9.00 9.00 9.00
8.50 8.50 8.55 9.55 11.35 12.00 12.00
76.00 84.00 71.00 72.00 75.00 76.00 75.00
- - 25.00 27.00 28.00 30.00 30.00
20.00 22.00 22.00 26.00 28.00 30.00 29.00
7.00 7.00 7.00 8.00 9.00 10.00 11.00
122.00 136.00
In FY23/24 the category "City Administrator" was added and "Administration" was renamed "Administrative Services" As of FY23/24, "City Clerk" staff will be included in "Administrative Services" Source: City of Placentia, Finance Department
(162)
170.00 180.00 192.00 204.00 203.00
CITY OF PLACENTIA
OPERATING INDICATORS BY FUNCTION
LAST TEN FISCAL YEARS
Fiscal Year
Function/Program
Police:
Physical Arrests
Parking Citations
Traffic Citations
Community Development:
Building Permits
Building and Zoning Inspections
Public Works:
Feet of Sewer Main Cleaned
Streetsweeping Miles
Traffic Signals Maintained
Culture and Recreation:
Recreation Classes
Source: City of Placentia, Finance Department
2016 2017 2018
2019 2020 2021 2022 2023 2024 2025
1,373 1,250 1,381 1,282 1,053 1,257 1,400 1,380 1,360 1,478 12,729 13,161 2,359 7,398 4,646 3,742 2,974 7,585 9,755 15,833 2,060 1,824 2,659 7,707 1,601 1,162 509 818 1,944 1,857 1,472 1,268 1,347 1,263 1,407 1,346 1,425 1,461 1,509
133 128 87 92 126 181 128 435 127
1,612
165
401,280 249,134 385,510 318,118 396,000 372,246 372,246 372,246 295,421 262,633 21,684 21,684 7,955 7,955 8,772 8,772 8,772 8,772 8,772 6,624 57 57 61 61 63 63 63 63 63 63
747 727 645
(163)
610 577 387 421 477 637 611
CITY OF PLACENTIA
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
Fiscal Year
Function/Program
Public Safety:
Police Stations
Sworn Officers
Patrol Vehicles
Fire Stations
Highways and Streets:
Miles of Streets
Street Trees
Traffic Signals
Street Lights
Sewer:
Miles of Sanitary Sewers
Storm Drains
Culture and Recreation:
Parks
Area of Parks (Acres)
Community Buildings
Community Centers
Senior Centers
Baseball Diamonds
Basketball Courts
Soccer Fields
Pools
Gymnasiums
Tennis Courts
Pickleball Courts
Handball Courts
Note:
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
1 1 1 1 1 1 1 1 1 1
46 46 51 51 46 51 46 48 51 47
26 26 32 32 33 16 16 17 17 17
2 2 2 2 2 2 2 2 2 2
107 107 107 132 132 132 133 133 133 134
9,214 9,214 9,139 7,175 7,077 6,929 6,688 6,915 6,863 6,883 229 229 230 230 230 230 230 230 230 230
3,656 3,656 3,660 3,660 3,656 3,656 3,656 3,915 3,656 3,656 76 76 76 76 84 84 84 84 84 84
506 506 506 506 506 506 531 531 531 531
16 16 16 16 15 15 15 15 15 15
72.9 72.9 72.9 100.9 60.9 60.9 60.9 60.9 60.9 74.2
7 7 7 7 7 7 7 7 7 7
3 3 3 3 3 3 3 3 3 3
1 1 1 1 1 1 1 1 1 1
7 7 7 7 7 7 7 7 7 7
8 8 8 8 7 7 7 7 7 7
1 1 1 1 1 1 1 1 1 1
2 2 2 2 2 2 2 2 2 2
1 1 1 1 1 1 1 1 1 1
- - - - 1 1 1
- - - 4 4 4
6 6
In FY20/21, the Fleet Manager provided the number of patrol vehicles as 16. The police department could not recreate the previously reported number of 33. When taking into account all police department vehicles, the number was 45. Therefore, only the actual patrol vehicles were reported starting in FY20/21.
In FY23/24 the handball courts were added to the list. They are not new to the city, but new to the list.
Source: City of Placentia, Finance Department
(164)
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NEW ACCOUNTING CHANGES
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Impact
Compensated absences that are more likely than not to be used, yet will not otherwise be paid or settled, are include in the compensated absences liability.
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Governance Communications
Uncorrected misstatements:
Interest receivable on Veterans Village promissory notes has not been recorded. As a result, interest receivable and an offsetting deferred inflow of resources —unavailable revenue are both understated by $132,367. (City Wide Developer Impact Fund and Housing Successor Special Revenue Fund) Adjustment to beginning net position of $546,912 for implementation of GASB Statement 101, Compensated Absences (Government -Wide, Refuse Fund, and Sewer).
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Governance Communications
Material corrected misstatements:
Charges for services totaling approximately $2,808,000 which should have been recorded to the Risk Management Internal Service Fund were improperly recorded to the City Capital Projects Fund.
Due to a separating of year end claims payable balances into departments, a duplicate entry to record year end claims payable balances were posted to the general ledger, resulting in an overstatement of claims liability of approximately $2,880,000.
Journal entries required to record lease receivable activity for the year were not recorded, resulting in an overstatement of deferred outflows of approximately $805,000, an overstatement of lease receivables of approximately $571,000, and an understatement of lease income of approximately $234,000.
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Material corrected misstatements:
Accounts payable and capital outlay were understated by approximately $529,000 for contractor work that was completed during May and June 2025.
An overstatement of revenue and an understatement of unearned revenue of approximately $625,000 in the Placentia Regional Navigation Center Fund, due to a prebilling for the following fiscal year being recorded as revenue in the current fiscal year.
An overstatement of revenue and an understatement of unavailable revenue of approximately $1,218,000, and an overstatement of unavailable revenue of approximately $625,000 in the Placentia Regional Navigation Center Fund, due to related cash receipts during the year and cash receipts after the period of availability.
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Governance Communications
Material corrected misstatements:
Fiduciary fund property tax additions were understated and unearned revenue overstated by approximately $564,000, due to not recognizing revenue that had been received an earned in the fiscal year.
City capital project fund accounts receivable and unavailable revenue overstatement of approximately $196,000, for amounts that were determined to not be collectable.
Due to/from balances, totaling approximately $862,000 were adjusted to properly clear the balances through pooled cash.
An understatement of receivables of approximately $647,000 an understatement of unavailable revenue of approximately $251,000, and an understatement of revenue of approximately $396,000 for receipts received after year end that were not properly accrued for.
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Agenda Item No: 3.b
PLACENTIA CITY COUNCIL AGENDA REPORT
Meeting Date: June 30, 2026
Submitted by: Frank Garza
From: Police Department
Subject:
SECOND READING AND ADOPTION OF ORDINANCE NO. O-2026-07, AN ORDINANCE
OF THE CITY OF PLACENTIA, CALIFORNIA, ADDING TO PLACENTIA MUNICIPAL CODE CHAPTER 13.77 (ELECTRIC BICYCLES AND OTHER MOTORIZED MOBILITY DEVICES) TO TITLE 13 (VEHICLES AND TRAFFIC)
Financial Impact:
None.
Summary:
The proposed ordinance adds Chapter 13.77 to the Placentia Municipal Code to regulate the operation of electric bicycles (e -bikes) and other motorized mobility devices within the City.
The ordinance is intended to address increasing safety concerns related to the growing use of these devices, particularly in parks, school zones, sidewalks, and commercial areas. The ordinance provides clear definitions, establishes operational rules, sets speed limits, designates permissible areas of use, and outlines enforcement mechanisms, including the potential seizure and release requirements.
This ordinance was initially presented to the City Council on May 5, 2026. At the direction of the City Council, the ordinance was brought back for further review and revision, including consideration of consistent terminology related to motorized mobility devices throughout the ordinance.
Recommended Action:
It is recommended that the City Council:
Waive full reading, by title only, and adopt Ordinance No. O-2026-07, an Ordinance of the City Council of the City of Placentia, California, adding Chapter 13.77 (Electric Bicycles and Other Motorized Mobility Devices) to Title 13 (Vehicles and Traffic) of the Placentia Municipal Code.
Strategic Plan Statement:
This item conforms to Strategic Plan Goal No. 2: Public Safety, to provide a safe, family - friendly environment through proactive policing, efficient fire and emergency medical services, disaster preparedness, and strong community partnerships that protect residents, businesses and visitors.
Discussion:
857
The use of electric bicycles (e -bikes) and other motorized mobility devices has increased significantly throughout the City, providing transportation and recreational benefits while also creating safety concerns related to speed, unsafe riding behavior, and conflicts with pedestrians and motorists.
The proposed ordinance establishes clear, locally enforceable regulations governing the operation of electric bicycles and other motorized mobility devices within the City, including operational requirements, speed limits, permitted areas of operation, helmet requirements, and prohibitions on unsafe riding behavior. The ordinance also clarifies regulations applicable to motorized scooters and the various classes of electric bicycles. The classification, equipment, and operational requirements applicable to motorized scooters and electric bicycles will remain consistent with and subject to the provisions of the California Vehicle Code.
Additionally, the ordinance includes enforcement provisions, administrative citations, and limited seizure authority involving minors operating devices in an unsafe manner. The proposed regulations are intended to improve public safety while remaining consistent with applicable state law.
Following review and public discussion of the proposed Electric Bicycles and Other Motorized Mobility Devices Ordinance, revisions were made to further clarify the ordinance's applicability to motorized scooters and other motorized mobility devices in addition to electric bicycles.
Terminology throughout the ordinance was also revised to ensure consistency and better encompass the range of devices subject to regulation.
The updated language adds a specific definition for "motorized scooter," consistent with California Vehicle Code terminology, and revises the definition of "electric mobility device" to expressly include motorized scooters. Additionally, a definition for "electrically motorized board," which includes electric skateboards, has been added. This definition is likewise consistent with California Vehicle Code terminology.
Additional revisions clarify where motorized scooters may operate within the City. The ordinance now specifies that motorized scooters must comply with applicable California Vehicle Code requirements when operated on roadways, bicycle facilities, and sidewalks.
Language was also added regarding the permitted areas of operation for Class 3 electric bicycles to ensure consistency with the applicable provisions of the California Vehicle Code.
The revised ordinance further expands enforcement provisions involving minors by extending seizure authority from electric bicycles to all motorized mobility devices, including motorized scooters, when operated in a manner that creates an immediate or substantial public safety risk.
These revisions are intended to provide clearer operational standards, improve enforceability, and ensure that motorized scooters and other motorized mobility devices are regulated consistently throughout the City.
Financial Summary:
The adoption of this Ordinance has no fiscal impact on the City of Placentia. 858
Attachments
Ordinance No. O-2026-07 - E-Bike.docx
REDLINED CC ORD NO. O-2026-07 E-BIKE.pdf
EBIKEordinancePP.pptx
859
ORDINANCE NO. O-2026-07
AN ORDINANCE OF THE CITY OF PLACENTIA, CALIFORNIA ADDING A NEW CHAPTER 13.77 (ELECTRIC BICYCLES AND OTHER
MOTORIZED MOBILITY DEVICES) TO TITLE 13 (VEHICLES AND
TRAFFIC) OF THE PLACENTIA MUNICIPAL CODE REGARDING THE
OPERATION OF MOTORIZED MOBILITY DEVICES IN THE CITY OF
PLACENTIA
City Attorney's Summary
This Ordinance would result in an amendment to Title 13 (Vehicles and Traffic) of the Placentia Municipal Code by adding Chapter 13.77 (Electric Bicycles and Electric Mobility Devices). This Chapter imposes regulations on the operation of motorized mobility devices within the City of Placentia, including electric bicycles, motorized scooters, electric skateboards, and other electrically powered transportation devices, to promote the safe operation of such devices within the City and to protect the public health, safety and welfare.
WHEREAS, the use of electric bicycles and other motorized mobility devices (collectively "motorized mobility devices") has increased significantly throughout the City of Placentia; and
WHEREAS, motorized mobility devices provide transportation, recreation, and environmental benefits; however, their increasing speed capability and expanded use in pedestrian areas have created safety concerns for residents, pedestrians, and motorists; and
WHEREAS, the City of Placentia contains numerous public parks, school zones, and commercial areas where the unsafe operation of motorized mobility devices poses heightened safety risks; and
WHEREAS, California law authorizes local agencies to regulate the operation of motorized mobility devices within their jurisdiction; and WHEREAS, the purpose of this Ordinance is to promote the safe operation of motorized mobility devices, reduce injuries and collisions, and provide clear and enforceable regulations consistent with state law; and
WHEREAS, the City Council of the City of Placentia desires to establish reasonable regulations governing the operation of motorized mobility devices within the City to promote public health, safety and welfare.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLACENTIA DOES HEREBY ORDAIN AS FOLLOWS:
1 Ordinance 2026-07