Agenda packet — Pleasanton City Council, February 6, 2024 (part 5 of 5)

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

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the e ffectiveness of the City’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s inter nal control and compliance. Acco rdingly, this communication is not suitable for any other purpose.

Sacramento, California
December 19, 2023

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AND ON INTERNAL CONTROL OVER COMPLIANCE
To the Honorable Mayor and Members of the City Council
City of Pleasanton, Califo
rnia
Report on Compliance
Opinion
We have audited the Transporta tion Development Act Article III Fund Program (“the Program”) of the City of Pleasanton, California’ s (“the City”) compliance with t he types of compliance requirements described in Section 6666 of the Rules and Regulations of the California Administrative Code in the Transportation Development Act Statutes and Administrative Code for 1987 (the Act) and the allocation instructions and resolutions of t he Metropolitan Transportation Commission for the year ended June 30, 2023.

In our opinion, the City complied, in all material respects, wi th the types of compliance requirements referred to above that could have a direct and material effect on the City’s compliance with the Act for the year ended June 30, 2023.

Basis for Opinion
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of the Act. Our responsibilities under those standards and the Act are further described in the Auditor’s Responsibilities for the Audit of Compliance section of our report.

We are required to be independent of the City and to meet our o ther ethical responsibilities, in accordance with 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 opinion on complianc e for the Program. Our audit does not provide a legal determination of the City’s compliance with the compliance requirements referred to above.

Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control o ver compliance with the requirements of laws, statutes, regulations, rules, and provisions of contracts or grant agreements applicable to the Program.

Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud o r error, and express an opinion on the City’s compliance based on our audit. 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 generally accepted auditing standards, Government Auditing Standards, and the Act will always detect material noncompliance when it exists. The risk of

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To the Hon
orable Mayor and Members of the City Council
City of Pleasanton, California
not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresent ations, or the override of internal control.

Noncompliance with the compliance requirements referred to above is considered material if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the City’s compliance with the requirements of the Act as a whole.

In performing an audit in accordance with generally accepted auditing standards, Government Auditing Standards, and the Act, we:
 Exercise professional judgment and maintain professional skepticism throughout the audit. 
Identify and assess the risks of material noncompliance, whether due to fraud or error, and design and perform audit
procedures responsive to th ose risks. Such procedures inc lude examining, on a test basis, evidenc e rega
rding the City’s compliance with the compliance requirements referred to above and performing such other pro
cedures as we considered necessary in the circumstances.  Obtain an understanding of the City’s internal control over co mpliance relevant to the audit in order to desi gn audit
procedures that are appropriate in the circumstances and to test and report on internal control ov er compli
ance in accordance with the Act, but not for the purpose of expressing an opinion on the effectiven ess of the City’s i
nternal control over compliance. Accordingly, no such opinion is expressed.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit.

Report on Internal Control over Compliance
A deficiency in internal control over compliance exists when the design or operation of a control over complian ce does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of the Act on a timely basis. A material weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of the Act will not be prevented, or detected and c orrected, on a timely basis. A significant deficiency in internal contro l over compliance is a deficiency, or a combination of deficiencies, in internal c o n t r o l o v e r compliance with a type of compliance requirement of the Act that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance.

Our
consideration of internal control over compliance was for t he limited purpose described in the Auditor’s Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we d id not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified.

Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed.
10

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

The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Act. Accordingly, this report is not suitable for any other purpose.

Sacramento, California
December 19, 2023
11

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&,7<2)3/($6$1721&$/,)251,$
$/$0('$&2817<75$163257$7,21&200,66,21
0($685(%352*5$0
)257+(<($5(1'('-81(
),1$1&,$/67$7(0(176
ATTACHMENT 4

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CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B PROGRAM

Financial Statements

For The Year Ended June 30, 2023

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CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B PROGRAM

Financial Statements

For The Year Ended June 30, 2023

Table of Contents

Page

Independent Auditors’ Report ..................................................................................................................................................... 1

Financial Statements

Balance Sheet ...................................................................................................................................................... 4

Statements of Revenues, Expenditures, and Changes in Fund Balances .......................................................... 5

Notes to the Basic Financial Statements ............................................................................................................. 6

Independent Auditors’ Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ........................................................................................................ 9

Independent Auditors’ Report on Compliance and on
Internal Control Over Compliance ................................................................................................................................... 11

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INDEPENDENT AUDITORS’ REPORT

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

Report on the Audit of the Financial Statements

Opinions

We have audited the accompanying financial statements of the Al ameda County Transportation Commission Measure B Funds (“Measure B Funds”) of the City of Pleasanton, California (the “City”), as of and for the year
ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the Measure B Funds’ basic financial statements as listed in the table of contents.

In our opinion, the financial st atements referred to above pres ent fairly, in all material respects, the respective financial position of the Measure B Funds of the City, as of June 30, 2023, and the respective changes in financial position 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 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 Auditor’s Responsibilities for the Audit of the Financial State ments section of our report. We are required to be independent of the City and to meet our other ethical responsib ilities, 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.

Emphasis of Matter

As discussed in Note 1, the financial statements of the Measure B Funds are intended to present the financial position and the changes in financial position of only the transactions of the Measure B Funds. They do not purport to, and do not, present fairly the financial position of the Ci ty, as of June 30, 2023, the changes in its financial position, or its cash flows for the year then ended in accordan ce with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter.

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.

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 an y currently known information that may raise substantial doubt shortly thereafter.

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

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to is sue an auditor’s report that includes our opinions.

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted a uditing standards and Government Auditing Standards will always detect a material m isstatement 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 generally accepted au diting standards and Government Auditing Standards, we:

 Exercise professional judgment and maintain professional skept icism 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 th ose risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

 Obtain an understanding of inter nal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.

 Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.

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

Required Supplementary Information

Management has omitted the management’s discussion and analysis and budgetary comparison schedules that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental A ccounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appr opriate operational, economic, or historical context.

Our opinions on the basic financial statements are not affected by this missing information. 2

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

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated December 19, 2023, on our consideration of the City’s internal control over the Measure B Funds’ financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contra cts, 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 the Measure B Funds’ financial reporting or on com pliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering City’s internal control over the Measure B Funds’ financial reporting and compliance.

Sacramento, California
December 19, 2023
3

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CITY OF PLEASANTON

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B PROGRAM
Balance Sheet
June 30, 2023
Total
Assets
Cash and investments 603,366$ 7,500$ 610,866$ Interest receivable 1,894 - 1,894 Total Assets 605,260$ 7,500$ 612,760$ Liabilities and Fund Balances
Liabilities
Accounts payable 120,185$ 7,500$ 127,685$ Total Liabilities 120,185 7,500 127,685 Fund Balances
Restricted for Measure B Programs and Projects 485,075 - 485,075 Total Fund Balances 485,075 - 485,075 Total Liabilities and Fund Balances 605,260$ 7,500$ 612,760$ Bicycle and
Pedestrian
Local Streets
and Roads
See Notes to Financial Statements.
4

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CITY OF PLEASANTON

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B PROGRAM
Statement of Revenues, Expenditures, and
Changes in Fund Balances
For the Year Ended June 30, 2023
Total
Revenues
Other Measure B Revenues
Investment Earnings:

Interest and loss on fair market value of investments (1,902)$ 4,413$ 2,511$ Total Revenues (1,902) 4,413 2,511 Expenditures
Measure B Direct Local Distribution Program Expenditures Construction 475,197 884,144 1,359,341 Total Expenditures 475,197 884,144 1,359,341 Net Change in Fund Balances (477,099) (879,731) (1,356,830) Fund Balances, Beginning of Year 962,174 879,731 1,841,905 Fund Balances, End of Year 485,075$ -$ 485,075$ Bicycle and
Pedestrian
Local Streets
and Roads
See Notes to Financial Statements.
5

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CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B PROGRAM
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023

NOTE 1: DESCRIPTION OF REPORTING ENTITY

Reporting Entity – All transactions of the Alameda County Transportation Commiss ion – Measure B Program (Program) of the City of Pleasanton, Californ ia (City), are included in a separate special revenue fund in the basic financial statements of the City.

Measure B funds are used to improve the quality of existing roa ds by reconditioning existing pavement surfaces. Every two years, the City’s street pavements are evaluated and reconditioning decisions are managed through the City’s computerized Pavement Management System. Measure B funds are also used for bicycle and pedestrian pathways progr ams. The accompanying financial statements are for the Program only and are not intended to fai rly present the financial position of the City and the results of its operations and cash flows of its proprietary fund type.

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

A. Basis of Accounting

The accompanying financial statements of special revenue funds are prepared on the modified accrual basis of accounting. Revenues are generally recorded when measurable and available, and expenditures are recorded when the related liabilities are incurred.

The accounting and financial reporting treatment applied to a f und is determined by its measurement focus. All governmental funds are accounted for usi ng a “current financial resources” measurement focus, wherein only current assets and c urrent liabilities generally are included on the balance sheets. Oper ating statements of governm ental funds present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets.

B. Description of Funds

The Program funds are Special Revenue Funds. The Program accoun ts are maintained on the basis of fund accounting. A fund is a separate accounting entit y with a self- balancing set of accounts.

Special Revenue Funds are used to account for the proceeds of specific revenue source s that are restricted or committed to expenditure for specified purposes other than debt service or capital projects.

C. Cash and Cash Equivalents

Cash amounts are pooled with the cash and investments of the Ci ty. The pooled funds are invested in accordance with the City’s investment policy established pursuant to State law.

D. Fund Balance

Measure B fund balance is restric ted. A restricted fund balance represents amounts that can be spent only for specific purposes because of constitutional provisions or enabling legislation or because of constraints that are externally imposed by creditors, grantors, contributors, or the laws or regulations of other governments.

When expenditures are incurred for purposes for which both rest ricted and unrestricted fund balance is available, the City considers restricted funds to have been spent first. 6

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CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B PROGRAM
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (CONTINUED )

E. Fair Value Measurements

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

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

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

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

If the fair value of an asset or liability is measured using in puts from more than one level of the fair value hierarchy, the measurement is considered to be based on the lowest priority level input that is significant to the entire measurement.

F. Use of Estimates

Management uses estimates and assumptions in preparing the financial statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities, and the reported revenues and expenditures. Actual results could differ from those estimates.

NOTE 3: CASH AND INVESTMENTS

Cash and investments are maintained on a pooled basis with thos e of other funds of the City.

Pooled cash and investments consist of U.S. government securiti es, deposits with banks, money market funds, certificates of deposit, and participation in the California Local Agency Investment Fund.

All investments are stated at fair value. Pooled investment earnings are allocated based on the average cash and investment balances of the various funds and related entities of the City.

See the City’s Basic Financial St atements (BFS) for disclosures related to cash and investments as
prescribed by Governmental Accounting Standards Board Statement No. 40 and 72. The BFS may be obtained from the City of Pleasanton at 123 Main Street, Pleasanton, CA 94566.

NOTE 4: COMMITMENTS AND CONTINGENCIES

The City participates in several grant programs. These programs may be subject to further examination by the grantors and the amount of expenditures, if any, which m ay be disallowed by the granting agencies, and cannot be determined at this time. The City expec ts such amounts, if any, to be immaterial.
7

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CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE B PROGRAM
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023

NOTE 5: MEASURE B FUNDS

Under Measure B, approved by the voters of Alameda County in 19 86 (Old Measure B) and in 2000, ACTC Measure B, the City received a portion of the proceeds of an additional one-half cent sales tax to be used for transportation-related expenditures. Measure B s ales tax collections were in effect for 20 years from April 1, 2002 through March 31, 2022.

Projects funded by Measure B during Fiscal Year 2022/23 included:

Bicycle and Pedestrian Safety Program
 West Las Positas Boulevard Multimodal Reconstruction Project  Annual Bicycle and Pedestrian Related Improvements at Various Locations

Local Streets and Roads Program
 Annual Street Resurfacing and Reconstruction Capital Improvement Project  Annual Slurry Sealing of Various Streets Capital Improvement Project

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OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS

BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE

WITH GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
We have audited, in accordance with the auditing standards gene rally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial stateme nts of the Alameda County Transportation Commission Measure B Funds (“Measure B Funds”) of the City of Pleasanton, California (“the City”), as of and for the year ended June 30, 2023, and the related notes to the fina ncial statements, which collectively comprise the Measure B Funds’ basic financial statements, and have issued our report thereon dated December 19, 2023.

Report on In
ternal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control over the Measure B Funds’ financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s int ernal control. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allo w management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements, on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a timely b asis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less s evere than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal contr ol that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Measure B Funds’ financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

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To the Hon
orable Mayor and Members of the City Council
City of Pleasanton, California
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the e ffectiveness of the City’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s inter nal control and compliance. Acco rdingly, this communication is not suitable for any other purpose.

Sacramento, California
December 19, 2023
10

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AND ON INTERNAL CONTROL OVER COMPLIANCE
To the Honorable Mayor and Members of the City Council
City of Pleasanton, Califo
rnia
Report on Compliance
Opinion
We have audited the compliance of the City of Pleasanton, Calif ornia (the “City”), with the types of compliance requirements described in the agreement with the Alameda County Transportation Commission, dated March 15, 2012 (the “Agreement”) that are applicable to its Measure B Funds for the year ended June 30, 2023.

Basis for Opinion
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of the Agreement. Our responsibilities under those standards and the Agreement are further described in the Auditor’s Responsibilities for the Audit of Compliance section of our report.

We are required to be independent of the City and to meet our o ther ethical responsibilities, in accordance with 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 opinion on complianc e for the Measure B Funds. Our audit does not provide a legal determination of the City’s compliance with the compliance requirements referred to above.

Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud o r error, and express an opinion on the City’s compliance based on our audit. 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 generally accepted auditing standards, Government Auditing Standards, and the Agreement will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepre sentations, or the override of internal control.

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To the Hon
orable Mayor and Members of the City Council
City of Pleasanton, California
Noncompliance with the compliance requirements referred to above is considered material if there is a substantial likelihood that, individually or in the aggregate, it would inf luence the judgment made by a reasonable user of the report on compliance about the City’s compliance with the requirements of the Agreement as a whole.

In performing an audit in accordance with generally accepted auditing standards, Government Auditing Standards, and the Agreement, we:
 Exercise professional judgment and maintain professional skepticism throughout the audit. 
Identify and assess the risks of material noncompliance, wheth er due to fraud or error, and design and perform audit procedures responsive to those risks. Such proced ures include examining, on a test basis, evidence regarding the City’s compliance with the compliance re quirements referred to above and performing such other procedures as we considered necessary in the circumstances.  Obtain an understanding of the City’s internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to test and report on internal control over compli
ance in accordance with the Agreement, but not for the purpose of expressing an opinion on the effec
tiveness of the City’s internal control over compliance. Accordingly, no such opinion is expressed.

Report on Internal Control over Compliance
A deficiency in internal control over compliance exists when the design or operation of a control over complian ce does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of the Agreement on a timely basis. A material weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of the Agreement will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of the Agreement that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance.

Our
consideration of internal control over compliance was for t he limited purpose described in the Auditor’s Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknes ses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we d id not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified.

Our audit was not designed for the purpose of expressing an opi nion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed.

The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Agreement. Accordingly, this report is not suitable for any other purpose.

Sacramento, California
December 19, 2023
12

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&,7<2)3/($6$1721&$/,)251,$
$/$0('$&2817<75$163257$7,21&200,66,21
0($685(%%352*5$0
)257+(<($5(1'('-81( ),1$1&,$/67$7(0(176
ATTACHMENT 5

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CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB PROGRAM

Financial Statements

For The Year Ended June 30, 2023

Page 488 of 554 ends

CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB PROGRAM

Financial Statements

For The Year Ended June 30, 2023

Table of Contents

Page

Independent Auditors’ Report .........................................................................................................................1

Financial Statements

Balance Sheet ..............................................................................................................................................4

Statements of Revenues, Expenditures, and Changes in Fund Balances ..................................................5

Notes to the Basic Financial Statements .....................................................................................................6

Independent Auditors’ Report on Compliance and on
Internal Control Over Compliance ................................................................................................................11

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INDEPENDENT AUDITORS’ REPORT

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

Report on the Audit of the Financial Statements

Opinions

We have audited the accompanying financial statements of the Al ameda County Transportation Commission Measure BB Funds (“Measure BB Funds”) of the City of Pleasanton , California (the “City”), as of and for the year
ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the Measure BB Funds’ basic financial statements as listed in the table of contents.

In our opinion, the financial st atements referred to above pres ent fairly, in all material respects, the respective financial position of the Measure BB Funds of the City, as of June 30, 2023, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions

Emphasis of Matter

As discussed in Note 1, the financial statements of the Measure BB Funds are intended to present the financial position and the changes in financial position of only the transactions of the Measure BB Funds. They do not purport to, and do not, present fairly the financial position of the Ci ty, as of June 30, 2023, the changes in its financial position, or its cash flows for the year then ended in accordan ce with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter.

Responsibilities of Management for the Financial Statements

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To the Hon
orable Mayor and Members of the City Council
City of Pleasanton, California
Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to is sue an auditor’s report that includes our opinions.

In performing an audit in accordance with generally accepted au diting standards 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 th ose 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 approp
riate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’
s internal control. Accordingly, no such opinion is expressed. 
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.  Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.

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

Required Supplementary Information
Manag
ement has omitted the management’s discussion and analysis and budgetary comparison schedules that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental A ccounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appr opriate operational, economic, or historical context.

Our opinions on the basic financial statements are not affected by this missing information. 2

Page 491 of 554 ends

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

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated December 19, 2023, on our consideration of the City’s i nternal control over the Measure BB Funds’ 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 the Measure BB Funds’ 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 the Measure BB Funds’ financial reporting and compliance.

Sacramento, California
December 19, 2023
3

Page 492 of 554 ends

CITY OF PLEASANTON

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB PROGRAM
Balance Sheet
June 30, 2023
Total
Assets
Cash and investments 1,808,242$ 2,086,498$ 600,954$ 4,495,694$ Measure BB Direct Local Distribution Program receivable 94,876 345,579 113,770 554,225 Interest receivable 3,650 3,765 1,181 8,596 Total Assets 1,906,768$ 2,435,842$ 715,905$ 5,058,515$ Liabilities and Fund Balances
Liabilities
Accounts payable -$ -$ 81,192$ 81,192$ Total Liabilities - - 81,192 81,192 Fund Balances
Restricted for Measure BB Programs and Projects 1,906,768 2,435,842 634,713 4,977,323 Total Fund Balances 1,906,768 2,435,842 634,713 4,977,323 Total Liabilities and Fund Balances 1,906,768 $ 2,435,842 $ 715,905 $ 5,058,515$ Paratransit
Bicycle and
Pedestrian
Local Streets
and Roads
See Notes to Financial Statements.
4

Page 493 of 554 ends

CITY OF PLEASANTON

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB PROGRAM
Statements of Revenues, Expenditures, and
Changes in Fund Balances
For the Year Ended June 30, 2023
Total
Revenues
Measure BB Direct Local Distribution Program Revenue
Direct Local Distribution Funds Allocation 535,055$ 1,948,897$ 641,605$ 3,125,557$ Subtotal Program Revenues 535,055 1,948,897 641,605 3,125,557 Other Measure BB Revenues
Investment Earnings:

Interest and loss on fair market value of investments (38,088) (65,915) (22,088) (126,091) Subtotal Other Measure BB Revenues (38,088) (65,915) (22,088) (126,091) Total Revenues 496,967 1,882,982 619,517 2,999,466 Expenditures
Measure BB Direct Local Distribution Program Expenditures Construction - 830,421 - 830,421 Salaries and benefits - - 16,688 16,688 Materials, services and supplies - - 416,434 416,434 Total Expenditures - 830,421 433,122 1,263,543 Net Changes in Fund Balances 496,967 1,052,561 186,395 1,735,923 Fund Balances
Fund Balances, Beginning of Year 1,409,801 1,383,281 448,318 3,241,400 Fund Balances, End of Year 1,906,768$ 2,435,842$ 634,713$ 4,977,323$ Bicycle and
Pedestrian
Local Streets
and Roads Paratransit
See Notes to Financial Statements.
5

Page 494 of 554 ends

CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB PROGRAM
Notes to the Basic Financial Statements
June 30, 2023

NOTE 1: DESCRIPTION OF REPORTING ENTITY

Reporting Entity – All transactions of the Alameda County Transportation Commission – Measure BB Program (Program) of the City of Pleasanton (City), are include d as separate special revenue and enterprise funds in the basic financial statements of the City.

Measure BB funds are used to account for the City’s share of re venues earned and expenditures under the City’s paratransit, local streets and roads, and bicycle and pedestrian safety programs. The accompanying financial statements are for Measure BB funds only and are not intended to fairly present the financial position of the City and the results of i ts operations and cash flows of its proprietary fund type.

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

A. Basis of Accounting

The accompanying financial stat ements of special revenue funds are prepared on the modified accrual basis of accounting. Revenues are generally recorded wh en measurable and available, and expenditures are recorded when the related liabilities are incurred.

The accounting and financial reporting treatment applied to a f und is determined by its

measurement focus. All government al funds are accounted for usi ng a “ current financial resources” measurement focus, wherein only current assets and current liabilities generally are included on the balance sheets. Operating statements of governm ental funds present increases (revenues and other financing sources) and decreases (expenditu res and other financing uses) in net current assets.

B. Description of Funds

The Program funds are Special Revenue Funds. The Program accoun ts are maintained on the basis of fund accounting. A fund is a separate accounting entit y with a self-balancing set of accounts.

Special Revenue Funds are used to account for the proceeds of specific revenue sources that are
restricted or committed to expen diture for specified purposes o ther than debt service or capital projects.

C. Cash and Cash Equivalents

Cash amounts are pooled with the cash and investments of the Ci ty. The pooled funds are invested in accordance with the City’s investment policy established pursuant to State law.

D. Fund Balance

Measure BB fund balance is restricted. A restricted fund balance represents amounts that can be spent only for specific purposes because of constitutional prov isions or enabling legislations or because of constraints that are externally imposed by creditors, grantors, contributors, or the laws or regulations of other governments.

When an expenditure is incurred for purposes for which both res tricted and unrestricted fund balance is available, the City considers restricted funds to have been spent first. 6

Page 495 of 554 ends

CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB PROGRAM
Notes to the Basic Financial Statements
June 30, 2023

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (CONTINUED )

E. Fair Value Measurements

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

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

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

If the fair value of an asset or liability is measured using in puts from more than one level of the fair value hierarchy, the measurement is considered to be based on the lowest priority level
input that is significant to the entire measurement.

F. Use of Estimates

Management uses estimates and assumptions in preparing the fina ncial statements. Those

estimates and assumptions affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities, and the reported revenues and expenditures. Actual results could differ from those estimates.

NOTE 3: CASH AND INVESTMENTS

Cash and investments are maintained on a pooled basis with those of other funds of the City. Pooled cash and investments consist of U.S. government securities, dep osits with banks, money market funds, certificates of deposit and participation in the California Local Agency Investment Fund. All investments are stated at fair value. Pooled investment earning s are allocated based on the average cash and investment balances of the various funds and related entities of the City.

See the City’s Basic Financial Statements (BFS) for disclosures related to cash and investments as prescribed by Governmental Accounting Standards Board Statement No. 40 and 72. The BFS may be obtained from the City of Pleasanton at 123 Main Street, Pleasanton, California 94566.

NOTE 4: MEASURE BB DIRECT LOCAL DISTRIBUTION PROGRAM RECEIVABLE

The Measure BB direct local distribution program receivable represents the Measure BB sales tax revenues for the fiscal year received from the Alameda County T ransportation Commission after June 30, 2023.

NOTE 5: COMMITMENTS AND CONTINGENCIES

The City participates in several grant programs. These programs may be subject to further examination by the grantors and the amount of expenditures, if any, which may be disallowed by the granting agencies, and cannot be determined at this time. The City expects such amounts, if

any, to be immaterial.

Page 496 of 554 ends

CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE BB PROGRAM
Notes to the Basic Financial Statements
June 30, 2023

NOTE 6: MEASURE BB FUNDS

In 2014, Alameda County voters approved Measure BB, authorizing an extension and augmentation of the existing transportation sales tax (Measure B). Measure B B is projected to generate $8 billion in revenue from April 2015 to March 2045 for transportation imp rovements throughout Alameda County.

Projects funded by Measure BB during Fiscal Year 2022/23 included:

Paratransit Program
 Door-to-door transportation program
 Program Administration
 Deposit for purchase of electric shuttle vehicle for Pleasanton Rides Program

Local Streets and Roads Program
 Annual Street Resurfacing and Reconstruction Capital Improvement Project  Annual Slurry Sealing of Various Streets Capital Improvement Project

Bicycle and Pedestrian Program
 No project expenditures were incurred during the fiscal year 8

Page 497 of 554 ends

OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS

BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE

WITH GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
We have audited, in accordance with the auditing standards gene rally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial stateme nts of the Alameda County Transportation Commission Measure BB Funds (“Measure BB Funds”) of the City of Pleasanton, California (“the City”), as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the Measure BB Funds’ basic financial statements, and have issued our report thereon dated December 19, 2023.

Report on In
ternal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control over the Measure BB Funds’ financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of th e City’s internal control. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control.

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Mea sure BB Funds’ financial statements are free from material misstatement, we performed tests of its complianc e with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Page 498 of 554 ends

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

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not t o provide an opinion on the e ffectiveness of the City’s internal control over the Measure BB Funds or on compliance. This report is an integral p art of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over the Measure BB Funds and compliance. Accordingly, this communication is not suitable for any other purpose.

Sacramento, California
December 19, 2023

Page 499 of 554 ends

AND ON INTERNAL CONTROL OVER COMPLIANCE
To the Honorable Mayor and Members of the City Council
City of Pleasanton, Califo
rnia
Report on Compliance
Opinion
We have audited the compliance of the City of Pleasanton, California (the “City”), with the types of compliance requirements described in the Master Programs Funding Agreement with the Alameda County Transportation Commission (the “Agreement”) that are applicable to its Measure BB Funds for the year ended June 30, 2023.

Basis for Opinion
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of the Agreement. Our responsibilities under those standards and the Agreement are further described in the Auditor’s Responsibilities for the Audit of Compliance section of our report.

We are required to be independent of the City and to meet our o ther ethical responsibilities, in accordance with 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 opinion on complianc e for the Measure BB Funds. Our audit does not provide a legal determination of the City’s compliance with the compliance requirements referred to above.

Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud o r error, and express an opinion on the City’s compliance based on our audit. 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 generally accepted auditing standards, Government Auditing Standards, and the Agreement will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Page 500 of 554 ends

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

In performing an audit in accordance with generally accepted auditing standards, Government Auditing Standards, and the Agreement, we:

 Exercise professional judgment and maintain professional skept icism throughout the audit.

 Identify and assess the risks of material noncompliance, wheth er due to fraud or error, and design and perform audit procedures responsive to those risks. Such proced ures include examining, on a test basis, evidence regarding the City’s compliance with the compliance re quirements referred to above and performing such other procedures as we considered necessary in the circumstances.

 Obtain an understanding of the City’s internal control over co mpliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to test and report on internal control over compliance in accordance with the Agreement, but not for the pu rpose of expressing an opinion on the effectiveness of the City’s internal control over compliance. Accordingly, no such opinion is expressed.

Report on Internal Control over Compliance

A deficiency in internal control over compliance exists when the design or operation of a control over complian ce does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of the Agreement on a timely basis. A material weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of the Agreement will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of the Agreement that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance.

Our consideration of internal control over compliance was for t he limited purpose described in the Auditor’s Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknes ses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we d id not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified.

Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed.
12

Page 501 of 554 ends

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

The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Agreement. Accordingly, this report is not suitable for any other purpose.

Sacramento, California
December 19, 2023
13

Page 502 of 554 ends

&,7<2)3/($6$1721&$/,)251,$
$/$0('$&2817<75$163257$7,21&200,66,21
0($685()352*5$0
)257+(<($5(1'('-81( ),1$1&,$/67$7(0(176
ATTACHMENT 6

Page 503 of 554 ends

CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE F PROGRAM

Financial Statements

For The Year Ended June 30, 2023

Page 504 of 554 ends

CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE F PROGRAM

Financial Statements

For The Year Ended June 30, 2023

Table of Contents

Page

Independent Auditors’ Report .........................................................................................................................1

Financial Statements

Balance Sheet ..............................................................................................................................................4

Statement of Revenues, Expenditures, and Changes in Fund Balance ......................................................5

Notes to the Basic Financial Statements .....................................................................................................6

Independent Auditors’ Report on Compliance and on
Internal Control Over Compliance ................................................................................................................11

Page 505 of 554 ends

INDEPENDENT AUDITORS’ REPORT

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

Report on the Audit of the Financial Statements

Opinions

We have audited the accompanying financial statements of the Al ameda County Transportation Commission Measure F Program (“Measure F Program”) of the City of Pleasanton, California (“the “City”), as of and for the year
ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the Measure F Program’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 financial position of the Measure F Program of the City, as of June 30, 2023, and the changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions

Emphasis of Matter

As discussed in Note 1, the financial statements of the Measure F Program are intended to present the financial position and the changes in financial position of only the tran sactions of the Measure F Program. They do not purport to, and do not, present fairly the financial position of the City, as of June 30, 2023, the changes in its financial position, or its cash flows for the year then ended in accordan ce with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter.

Responsibilities of Management for the Financial Statements

Page 506 of 554 ends

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

Auditor’s Responsibilities for the Audit of the Financial Statements

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 generally accepted auditing standards 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 generally accepted au diting standards and Government Auditing Standards, we:

 Exercise professional judgment and maintain professional skept icism throughout the audit.

Required Supplementary Information

Our opinions on the basic financial statements are not affected by this missing information. 2

Page 507 of 554 ends

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

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated December 19, 2023, on our consideration of the City’s internal control over the Measure F Program’s 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 the Measure F Program’s 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 the Measure F Program’s financial reporting and compliance.

Sacramento, California
December 19, 2023
3

Page 508 of 554 ends

CITY OF PLEASANTON

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE F PROGRAM
Balance Sheet
June 30, 2023
Assets
Cash and investments 384,780$
Measure F Direct Local Distribution Program receivable 66,024 Interest receivable 711
Total Assets 451,515$
Liabilities and Fund Balance
Liabilities
Accounts payable 5,000$
Total Liabilities 5,000
Fund Balance
Restricted for Measure F Programs and Projects 446,515
Total Fund Balance 446,515
Total Liabilities and Fund Balance 451,515$
Vehicle
Registration
Fees
See Notes to Financial Statements.
4

Page 509 of 554 ends

CITY OF PLEASANTON

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE F PROGRAM
Statement of Revenues, Expenditures, and
Changes in Fund Balance
For the Year Ended June 30, 2023
Revenues
Direct Local Distribution Funds Allocation 359,289$
Interest earnings 5,203
Total Revenues 364,492
Expenditures
Capital outlay 350,178
Total Expenditures 350,178
Net Change in Fund Balance 14,314
Fund Balance, Beginning of Year 432,201
Fund Balance, End of Year 446,515$
Vehicle
Registration
Fees
See Notes to Financial Statements.
5

Page 510 of 554 ends

CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE F PROGRAM
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023

NOTE 1: DESCRIPTION OF REPORTING ENTITY

Reporting Entity – All transactions of the Alameda County Transportation Commission – Measure F Program (Program) of the City of Pleasanton, California (City), are included as a separate special revenue fund in the basic financial statements of the City.

Measure F funds are used to repair and maintain local streets a nd roads; improve traffic flow and bicyclist, pedestrian and driver safety; improve public transpo rtation; and encourage green transportation options. The accompanying financial statements a re for the Program only and are not intended to fairly present the financial position of the City a nd the results of its operations of its governmental fund type.

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

A. Basis of Accounting

The accompanying financial statem ents of a special revenue fund are prepared on the modified accrual basis of accounting. Revenues are generally recorded when measurable and available, and expenditures are recorded when the related liabilities are incurred.

The accounting and financial reporting treatment applied to a f und is determined by its

measurement focus. All governmental funds are accounted for using a “current financial resources” measurement focus, wherein only current assets and c urrent liabilities generally are included on the balance sheets. Oper ating statements of governm ental funds present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets.

B. Description of Funds

The Program fund is a Special Revenue Fund. The Program accounts are maintained on the basis
of fund accounting. A fund is a separate accounting entity with a self- balancing set of accounts.

C. Cash and Cash Equivalents

Cash amounts are pooled with the cash and investments of the Ci ty. The pooled funds are invested in accordance with the City’s investment policy established pursuant to State law.

D. Fund Balance

Measure F fund balance is restricted. A restricted fund balance represents amounts that can be spent only for specific purposes because of constitutional prov isions or enabling legislation or because of constraints that are externally imposed by creditors, grantors, contributors, or the laws or regulations of other governments.

When an expenditure is incurred for purposes for which both res tricted and unrestricted fund balance is available, the City considers restricted funds to have been spent first. 6

Page 511 of 554 ends

CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE F PROGRAM
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (CONTINUED )

E. Fair Value Measurements

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

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

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

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

If the fair value of an asset or liability is measured using in puts from more than one level of the fair value hierarchy, the measurement is considered to be based on the lowest priority level
input that is significant to the entire measurement.

F. Use of Estimates

Management uses estimates and assumptions in preparing the fina ncial statements. Those

NOTE 3: CASH AND INVESTMENTS

Cash and investments are maintained on a pooled basis with thos e of other funds of the City.

Pooled cash and investments consist of U.S. government securiti es, deposits with banks, money market funds, certificates of deposit and participation in the California Local Agency Investment Fund.

All investments are stated at fair value. Pooled investment earnings are allocated based on the average cash and investment balances of the various funds and related entities of the City.

See the City’s Basic Financial S tatements (BFS) for disclosures related to cash and investments as
prescribed by Governmental Accounting Standards Board Statement No. 40 and 72. The BFS may be obtained from the City of Pleasanton at 123 Main Street, Pleasanton, CA 94566.

NOTE 4: MEASURE F DIRECT LOCAL DISTRIBUTION PROGRAM RECEIVABLE

The Measure F direct local distribution program receivable repr esents the Measure F vehicle

registration fee revenues for the fiscal year received from the Alameda County Transportation Commission after June 30, 2023.

NOTE 5: COMMITMENTS AND CONTINGENCIES

The City participates in several grant programs. These programs may be subject to further examination by the grantors and the amount of expenditures, if any, which may be disallowed by the granting agencies, and cannot be determined at this time. The C ity expects such amounts, if any, to
be immaterial.

Page 512 of 554 ends

CITY OF PLEASANTON, CALIFORNIA

ALAMEDA COUNTY TRANSPORTATION COMMISSION

MEASURE F PROGRAM
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023

NOTE 6: MEASURE F FUNDS

Under the Measure F Alameda County Vehicle Registration Fee (VRF) Program, approved by the voters of Alameda County in November 2010, the City receives a portion of the proceeds of the $10 per year vehicle registration fee to be used for transportation related expenditures.

The goal of the VRF program is to sustain the County’s transportation network and reduce traffic congestion and vehicle related pollution. The program includes four categories of projects:

 Local Road Improvement and Repair Program (60 percent)  Transit for Congestion Relief Program (25 percent)
 Local Transportation Technology Program (10 percent)
 Pedestrian and Bicyclist Access and Safety Program (5 percent)

The Alameda County Transportation Commission will distribute an equitable share of the funds among the four planning areas of the County over successive five-year cycles. Geographic equity will be measured by a formula, weight ed 50 percent by population of the planning area and 50 percent of registered vehicles of the planning area.

Projects funded by Measure F during Fiscal Year 2022/23 included:

Local Streets and Road Program

 Annual Street Resurfacing and Reco nstruction Capital Improvement Project

Page 513 of 554 ends

OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS

BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE

WITH GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
We have audited, in accordance with the auditing standards gene rally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial stateme nts of the Alameda County Transportation Commission Measure F Program (“the Measure F Program”) of the C ity of Pleasanton, California (“the City”), as of and for the y ear ended June 30, 2023, and t he related notes to the financial statements, which collectively comprise the Measure F Program’s basic financial statements, and have issued our report thereon dated December 19, 2023.

Repor
t on Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control over the Measure F Program’s financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of th e City’s internal control. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control.

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Mea sure F Program’s financial statements are free from material misstatement, we performed tests of its complianc e with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

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

Purpose of this Report

Sacramento, California
December 19, 2023

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AND ON INTERNAL CONTROL OVER COMPLIANCE
To the Honorable Mayor and Members of the City Council
City of Pleasanton, Califor
nia
Report on Compliance
Opinion
We have audited the compliance of the City of Pleasanton, California (the “City”), with the types of compliance requirements described in the agreement with the Alameda County Transportation Commission (the “Agreement”) that are applicable to its Measure F Funds for the year ended June 30, 2023.

Basis for Opinion
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of the Agreement. Our responsibilities under those standards and the Agreement are further described i n the Auditor’s Responsib ilities for the Audit of Compliance section of our report.

We are required to be independent of the City and to meet our o ther ethical responsibilities, in accordance with 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 opinion on complianc e for the Measure F Funds. Our audit does not provide a legal determination of the City’s compliance with the compliance requirements referred to above.

Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud o r error, and express an opinion on the City’s compliance based on our audit. 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 generally accepted auditing standards, Government Auditing Standards, and the Agreement will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepre sentations, or the override of internal control.

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

Noncompliance with the compliance requirements referred to above is considered material if there is a substantial likelihood that, individually or in the aggregate, it would inf luence the judgment made by a reasonable user of the report on compliance about the City’s compliance with the requirements of the Agreement as a whole.

In performing an audit in accordance with generally accepted auditing standards, Government Auditing Standards, and the Agreement, we:

 Exercise professional judgmen t and maintain professional skepticism throughout the audit.

 Obtain an understanding of the City’s internal control over co mpliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to test and report on internal control over compliance in accordance with the Agreement, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control over compliance. Accordingly, no such opinion is expressed.

Report on Internal Control over Compliance

Our consideration of internal control over compliance was for t he limited purpose described in the Auditor’s Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknes ses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we d id not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified.

Our audit was not designed for the purpose of expressing an opi nion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed.

The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based o n the requirements of the Agreement. Accordingly, this report is not suitable for any other purpose.

Sacramento, California
December 19, 2023
12

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5

Page 525 of 554 ends

CITY OF PLEASANTON
Schedule of Expenditures of Federal Awards
For the Fiscal Year Ended June 30, 2023
Federal
Assistance Listing Total Federal
Number Expenditures
CDBG - Entitlement Grants Cluster
Department of Housing and Urban Development Direct Programs:

Community Development Block Grants/Entitlement Grants 14.218 Not Applicable 401,052$ COVID-19 Community Development Block Grants/Entitlement Grants 1 4.218 Not Applicable 23,000 Community Development Block Grants/Entitlement Grants Beginning Loan Balance 14.218 Not Applicable 435,742 Subtotal - Assistance Listing Number 14.218 859,794
Total CDBG - Entitlement Grants Cluster 859,794
Other Programs
Development of Housing and Urban Development Pass-Through Programs from:

County of Alameda, Housing and Community Development
Home Investment Partnership Program 14.239 DAGVVDNMJL55 123,118 Home Investment Partnerships Program Beginning Loan Balance 14.2 39 DAGVVDNMJL55 1,763,987 Subtotal - Assistance Listing Number 14.239 1,887,105
Total Department of Housing and Urban Development 1,887,105 Department of the Treasury Pass-Through Programs from:

County of Alameda
COVID-19 Coronavirus Relief State and Local Fiscal Recovery Funds* 21.027 UPVLXN4NFBE8 4,345,930 California Department of Community and Development
COVID-19 Coronavirus Relief State and Local Fiscal Recovery Funds* 21.027 F4LGDJEVBFK4 40,157 Subtotal - Assistance Listing Number 21.027 4,386,087
Total Department of Treasury 4,386,087
Department of Homeland Security Pass-Through Programs from:

County of Alameda
Homeland Security Grant Program 97.067 Not Applicable 168,000 Disaster Relief Public Assistance Program 97.036 Not Applicable 25,325 Total Department of Homeland Security 193,325
Total Other Programs 6,466,517
Total Expenditures of Federal Awards 7,326,311$
* Major Program
There was no federal awards expended in the form of noncash assistance and insurance in effect during the year.

The amount provided to subrecipients during the year was $0.

Grantor/Program or Cluster Title
Federal Grantor/Pass-Through
Unique Entity ID
The notes to the schedule of expenditures of federal awards are an integral part of this schedule. 6

Page 526 of 554 ends

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Page 530 of 554 ends

PROCEDURES APPLIED TO APPROPRIATIONS LIMIT WORKSHEETS
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
We have performed the procedures enumerated below on the accomp anying Appropriations Limit Worksheet No. 6 (or other alternative computation) of the City of Pleasanton, California, for the year ended June 30, 2024. These procedures are the responsibility of the City, which were agreed to by the City of Pleasanton and the League of California Cities (as presented in the publication entitled Agreed-Upon Procedures Applied to the Appropriations Limitation Prescribed by Article XIII-B of the California Constitution), were performed solely to assist the C ity of Pleasanton in meeting the requirements of Section 1.5 of Article XIII-B of the California Constitution. The City of Pleasanton's management is responsible for the Appropriations Limit Workshee t No. 6 (or other alternative computation).

The City has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of recomputing th e Appropriations Limit Worksh eet No. 6 (or other alternative computation). This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whet her the procedures performed are appropriate for their purposes.

The procedures performed and our findings were as follows:

1. We obtained the completed Worksheets No. 1 through No. 7 (or other alternative computations) and compared the limit and annual adjustment factors included in th ose worksheets to the limit and annual adjustment factors that were adopted by resolution of the City Council. We also compared t he popul
ation and inflation options included in the aforementioned worksheets to those that w ere sele
cted by a recorded vote of the City Council.

Finding: No exceptions were noted as a result of our procedures.

2. For the accompanying Appropriations Limit Worksheet No. 6, w e multiplied line A, last year's limit, by line D, ratio of change and compared the resulting amount to line E, this year's limit.

Finding
: No exceptions were noted as a result of our procedures.

3. We compared the current year information presented in the accompanying Appropriations Limit Wo
rksheet No. 6 to the other worksheets described in No. 1 above.

Finding
: No exceptions were noted as a result of our procedures.

4. We compared the prior year appropriations limit presented in the accompanying Appropriations Limit Worksheet No. 6 to the prior year appropriations limit adopted by the City Council for the prior year.

Finding
: No exceptions were noted as a result of our procedures.

ATTACHMENT 8

Page 531 of 554 ends

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

We were engaged by the City to perform this agreed-upon procedu res engagement and conducted our engagement in accordance with attestation standards established by the AICPA. We were not engaged to and did not conduct an examination or review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the ac companying Appropriations Limit Worksheet No. 6 (or other alternative computation). Accordingly , we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

We are required to be independent of the City and to meet our o ther ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

This report is intended solely for the information of the City Council and management of the City of Pleasanton and is not intended to be, and should not be, used by anyone other than these specified parties.

Sacramento, California
July 10, 2023

Page 532 of 554 ends

CITY OF PLEASANTON
2023-2024

APPROPRIATIONS LIMIT CALCULATION

A. 2022-2023 APPROPRIATIONS LIMIT: $786,407,036

B. 2023-2024 CHANGE IN PER CAPITA
INCOME 4.44%

C. 2023-2024 CHANGE IN POPULATION: (0.47%)

D. RATIO OF CHANGE (1.04 44 x 0.9953): x 1.03949132

E. 2023-2024 APPROPRIATIONS LIMIT: $817.463.288
($786,407,036 x 1.03949132)

Page 533 of 554 ends

1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
Jan
uary 12, 2024
To the Honorable Mayor and Members of the City Council
City of Pleasanton, Califo
rnia
We have audited the financial statements of the governmental ac tivities, the business-type activities, each major fund, and the aggregate remaining fund information of City of Pleasanton, California (the “City”) for the year ended June 30, 2023. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards, Government Auditing Standards and the Uniform Guidance, as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our letter to you dated April 26, 2023. Professional standards also require that we communicate to you the following information related to our audit.

Significant Audit Matters
Qualitative Aspe
cts of Accounting Practices
Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the City are described in Note 1 to the financial statements. As described in Note 1 to the financial statements, the City changed accounting policies related to sub scription-based information technology arrangements by adopting Statement of Governmental Accounting Standards (GASB Statement) No. 96, in fiscal year 2022-2023. Accordingly, the cumulative effect of the accou nting change as of the beginning of the year is reported in the Statement of Activities. We noted no transactions entered into by the City during the year for which there is a lack of authoritative guidance or consensus. All sig nificant transactions have been recognized in the financial statements in the proper period.

Accounting estimates are an integral part of the financial stat ements prepared by management and are based on management’s knowledge and experience about past and current events and assumptions about future events.

Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimates affecting the City’s financial statements were:

Management’s estimates of the net pension liability, net other postemployment benefits liability, and claims and judgments liability are based on actuarial valuation estimates. We evaluated the methods, assumptions, and data used to develop the actuarial va luation estimates in determining that they are reasonable in relation to the financial statements taken as a whole.

The financial statement disclosures are neutral, consistent, and clear.

Difficulties Encountered in Performing the Audit

We encountered no significant difficulties in dealing with management in performing and completing our audit.

ATTACHMENT 9

Page 534 of 554 ends

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

Corrected and Uncorrected Misstatements

Professional standards require u s to accumulate all known and l ikely misstatements identified during the audit, other than those that are clearly trivial, and communicate them to the appropriate level of management. We are pleased to report that no such misstatements were identified during the course of our audit.

Disagreements with Management

For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing matter, whether or not resolved to our s atisfaction, that could be sign ificant to the financial statements or the auditor’s report. We are pleased to report that no such disagreements arose during the course of our audit.

Management Representations

We have requested certain representations from management that are included in the management representation letter dated January 12, 2024.

Management Consultations with Other Independent Accountants

In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting principle to the City’s financial statements or a determination of the type of auditor’s opinion that may be expressed on those statements, our professi onal standards require the con sulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledg e, there were no such consultations with other accountants.

Other Audit Findings or Issues

We generally discuss a variety of matters, including the application of accounting principles and auditing standards, with management each year prior to retention as the City’s audi tors. However, these discussions occurred in the normal course of our professional relationship and our responses were not a condition to our retention.

Other Matters

We applied certain limited procedures to management’s discussio n and analysis, the budgetary comparison schedules for the General Fund and the major special revenue fu nds, and the required pension and other postemployment benefits schedules , which are required supplemen tary information (RSI) that supplements the basic financial statements. Our procedures consisted of inquiri es of management regarding the methods of preparing the information and comparing the information for con sistency 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 did not audit the RSI and do not express an opinion or provide any assurance on the RSI.

We were engaged to report on the combining and individual fund financial statements and schedules which accompany the financial statements but are not RSI. With respec t to this supplementary information, we made certain inquiries of management and evaluated the form, content , and methods of preparing the information to determine that the information complies with accounting princip les generally accepted in the United States of America, the method of preparing it has not changed from the pr ior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepar e the financial statements or to the financial statements themselves.

Page 535 of 554 ends

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

We were not engaged to report on other information included in the annual report which is comprised of the introductory and statistical sections, which accompany the fina ncial statements but are not RSI. Such information has not been subjected to the auditing procedures applied in th e audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on it.

Future GASB Pronouncements

The following Government Accounting Standards Board (GASB) pronouncements will be effective for the following fiscal years’ audits and should be reviewed for proper implementation by management:

Fiscal Year 2023-2024

GASB Statement No. 99, Omnibus 2022.

Fiscal Year 2024-2025

GASB Statement No. 101, Compensated Absences.

Future Projects

Comprehensive Project, Financial Reporting Model.

Comprehensive Project, Revenue and Expense Recognition.

Major Project, Going Concern Uncertainties and Severe Financial Stress.

Major Project, Infrastructure Assets.

Practice Issue, Classification of Nonfinancial Assets.

Practice Issue, Risks and Uncertainties Disclosures.

Pre-Agenda Research Activities, Subsequent Events.

Restriction on Use

This information is intended solely for the information and use of City Council and management of the City and is not intended to be, and should not be, used by anyone other than these specified parties.

Very truly yours,

Sacramento, California

Page 536 of 554 ends

INDEPENDE
NT AUDITORS’ REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON

COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN

ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Hon
orable Mayor and Members of the City Council
City of Pleasanton, Califo
rnia
We have audited, in accordance with the auditing standards gene rally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund i nformation of the City of Pleasanton, California (the “City”), as of and for the year ended June 30, 2023, and t he related notes to the financial statements, which collectively comprise the City’s basic financial statements, an d have issued our report thereon dated January 12, 2024.

Repor
t on Internal Control over Financial Reporting
In planning and performing our audit of the financial statement s, we considered the City’s internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control.

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and ma terial effect on the financial statements.

However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

ATTACHMENT 10

Page 537 of 554 ends

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

Purpose of This Report

Sacramento, California
January 12, 2024

Page 538 of 554 ends

ONE PLEASANTON

POPULAR ANNUAL FINANCIAL

REPORT FOR FISCAL YEAR
ENDED JUNE 30, 2023

CALIFORNIA
ATTACHMENT 11

Page 539 of 554 ends

CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023

Page 540 of 554 ends

CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023

TABLE OF CONTENTS
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Meet the City Council

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Community Profile
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Types of Funds

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Governmental Funds
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Enterprise Funds

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Net Position

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Fund Balances

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Investments
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Long Term Debt
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Pension Obligations
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Other Post Employment Benefits

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

GLOSSARY OF TERMS
Here is a quick reference to some terms used in the report:

Assets - Property or equipment that has a monetary value .

Fiscal Y
ear - A one year period that the City used for accounting purposes and preparing financial report .

The fiscal year for the City begins on July 1 of every year and ends on June 30 .

The City issues its annual
financial reports at the end of each calendar year .

Fund - A method to account financial transactions that are for a specific purpose .

Liability
- A legal monetary obligation
.

Other Assets
- Cash, investments, and money owed to the City .

Public Entity
- A state or local government, as well as any agency, office, or department run by a state or local government
.

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2 CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023

INTRODUCTION
Pleasanton’s Popular Annual Financial Report contains financial highlights for the City of Pleasanton . The information has been presented in an easy to read format that simplifies complex data and avoids financial

jargon
.

The City of Pleasanton is a General Law city with a Council-Manager form of government .

The Mayor
and City Council are elected officials that represent the will of Pleasanton residents and businesses .

The City
Manager and staff provide operations and management of services and facilities provided by the City .

The City
adopts a biennial Operating Budget and a four year Capital Improvement Plan in odd number years .

For more
information on the City’s various financial reports and information please visit the Finance page on City’s website located at www.cityofpleasantonca.gov
.

Pleasanton is a thriving community that has something to offer everyone .

From golf courses, major employers,
prosperous vineyards and large community parks and recreation areas to small business, historic downtown with its boutique stores and restaurants, the city will capture the heart of all that visit just as it does for its residents .

The City of Pleasanton was incorporated on June 18, 1894 .

Pleasanton’s history has been shaped largely by
its geographic location, from its days as a stop on the transcontinental railroad, to its modern-day position as a center of commerce
.

Pleasanton enjoys a rich blend of historic turn-of-the-century charm and vital modern facilities that provide the quality of life and economic well-being desired by residents and businesses .

This
successful balance has been achieved through Pleasanton’s active and involved citizenry, strong community leadership and committed City government
.

The city
’s geographic location makes it strategically accessible .

Pleasanton is located at the intersection of two
major interstate freeways
.

These freeways link Pleasanton to Sacramento in the north, San Francisco Bay Area in the west, the Silicon Valley in the south and the San Joaquin central valley in the east .

Along with the major
freeways, the city also boasts connection with transit systems, including the Bay Area Rapid Transit (BART) and Altamont Corridor Express (ACE) which make traveling to and from the city extremely convenient .

The city
’s location combined with abundant parks and recreational areas, thriving community, low crime, excellent business districts and a beautiful downtown makes Pleasanton the city of choice for new businesses, industry and residents
.

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3 CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023

MAYOR & CITY COUNCIL
Human Services Commission
Library Commission
Parks and Recreation Commission
Planning Commission

HUMAN RESOURCES

LIBRARY & RECREATION

ECONOMIC DEVELOPMENT
FIRE

INFORMATION TECHNOLOGY
POLICE

CITY CLERK
Economic Vitality Committee
Housing Commission
Youth Commission
Bicycle, Pedestrian and Trails Committee
Civic Arts Commission
Committee on Energy and the Environment

PUBLIC WORKS

CITIZENS

FINANCE

COMMUNITY DEVELOPMENT

CITY MANAGER CITY ATTORNEY
Councilmember
Valerie Arkin
Mayor
Karla Brown
Councilmember
Jack Balch
Councilmember
Jeﬀ Nibert
Councilmember
Julie Testa

ORGANIZATION CHART

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4 CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023 $235,176
Average Household Income
(Family of 4)
The Average
Pleasanton Resident
Possesses a
Bachelor’s Degree

64.9% of Residents
76,459
People Live Here
The City of Pleasanton is an
excellent community made
up of good people. These
facts/ﬁgures reﬂect the
average Pleasanton resident.

Industry Most Likely
to Work In

16.6% 13.3% 11.9%
Professional
Scientific
Technical Services
Healthcare
Social
Assistance
Information
Community Demographics Housing Economic Development
Fire
91% of
Residents
Say Pleasanton is an
excellent or good
place to live
47 Parks
80 Trail Miles
6,777
Total Fire Department
Incidents
154
Total
Annual Fires
Police
98,300
Total calls to communications center
165
Total 5150 holds
White 41.8%
Black 1.7%
Asian 41.1%
Hispanic/
Latino 11.3%
Other 4.1%
51% 49%
Female Male
29,344 Total Residential Units
210 Miles
Maintained
City Streets
Workday Inc. . . . . . . . . 5,548 Employees
Kaiser Foundation
Hospitals . . . . . . . . . . . 3,549 Employees
Roche Molecular
Systems . . . . . . . . . . . . . 9 27 Employees
Stanford Healthcare
Valleycare . . . . . . . . . . . 896 Employees
Oracle America Inc. . . . . . 882 Employees
91%

64.9%

COMMUNITY PROFILE

BY THE NUMBERS

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CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023

INTERNAL

SERVICE FUNDS

ENTERPRISE
FUNDS
Fees for services
or utilities: water,
sewer, golf courses
OTHER
FUNDS
Debt Service
Trust funds

GENERAL
FUND
Taxes, fees, permits
police, ﬁre, general
City operations

SPECIAL REVENUE
FUNDS
Grants, donations,
funds districted for
special purposes
Cost allocation from
other funds, such as
equipment, vehicles,
technology

PUBLIC ENTITY
City of Pleasanton is a public entity that manages its monies as governed by the generally accepted accounting practices . A public entity must ensure appropriate use of public funds . 5 Types of City Funds
The City of Pleasanton manages a number of funds to provide a wide variety of programs and services to the community .

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CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023 6 Governmental funds are a group of funds (sources) that a government entity collects during the year and are used to provide most of the City services
.

These funds include monies collected through taxes, permits, licenses, fines, fees for services, etc
.

They are typically used for services that are not restricted by usage .

Examples of programs
funded through Governmental Funds include police and fire services, libraries, parks, and public works .

Where does money come from?

Taxes like property tax, sales tax, and transient occupancy tax comprise the largest portion of governmental funds .

This makes up about 76% of the total revenues in this category .

The table below breaks down the different revenues
collected by the City in FY 2022/23 compared with FY 2021/22 .

GOVERNMENTAL FUNDS
Where does money get spent?
The governmental funds are used for typical City operations split into five categories: General Government, Public Safety, Community Development, Operations Services, and Community Activities .

Public safety makes up for 38%
of the expenses as firefighting and police services continue to develop as the city grows .

The table below breaks
down the different programs funded by the City in FY 2022/23 compared with FY 2021/22 .

Revenue by Sources (in millions) FY 2022 FY 2023
Property Taxes & Special Assessments $80 . 4 $86 . 3
Sales Tax 24
.
6 26
.
2 Other Taxes 11 .
1 12
.
2 Other Sources 10
.
2 16
.
4 Fines, Forfeitures & Fees 8
.
3 9
.2
Intergovernmental 13
.
3 13
.
0 Total $147 .9 $163.3
Expenditures by Program (in millions) FY 2022 FY 2023
General Government $17 . 9 $20 . 0
Public Safety 55
.
0 57 .
4 Community Development 17 .
7 19 .
1 Operations Services 19 .
8 22
.
8 Community Activities 12
.
8 15
.
0 Capital & Debt 17 .
9 16
.
7 Total $141.1 $151.0
76% Taxes
14% Other Revenues
10% Fees for Services
38% Public Safety
13% Community
Development
15% Operations
Services
13% General Government
10% Community Activities
11% Capital & Debt

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CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023 7 Enterprise or Business Funds are a group of funds that are managed similar to a business entity . These funds collect fees to cover the cost of service and all monies collected can only be used to provide the same service .

These funds
are typically used for utilities – including water, sewer and storm drain, as well as golf and transit services .

Where does money come from?

The Water Utility is the biggest component, comprising of about 52% of the total group .

Unlike governmental
funds, each fund is a separate entity and funds from one source cannot be mixed with another .

The “Other
Enterprise Funds Category” represents three funds: Transit Fund, Cemetery Fund and Housing Fund .

The table
below breaks down the different revenues collected by the City in FY 2022/23 compared with FY 2021/22 .

ENTERPRISE (BUSINESS OR PROPRIETARY) FUNDS
Where does money get spent?
The Enterprise Funds are used specifically for the purpose for which the revenue is collected .

For example, the
amount paid on a water bill can only be used to provide water to a resident or business .

This includes operating
costs of the utility, capital projects needed to maintain the water system, and the cost of buying the water .

The table below breaks down the different programs funded by the City in FY 2022/23 compared with FY 2021/22 .

Revenue by Sources (in millions) FY 2022 FY 2023
Water Fund $30 . 7 $29 . 5
Sewer Fund 16
.
8 16
.
7 Golf Fund 6
.
0 5
.
9 Storm Drain Fund 2
.
4 3
.
9 Other Enterprise Funds 0
.
7 0
.
9 Total $56.6 $56.9
Expenditures by Program (in millions) FY 2022 FY 2023
Water Fund $32 . 9 $34 . 4
Sewer Fund 18 .2 19 . 5
Golf Fund 5 . 7 7 .7
Storm Drain F
und 2
.
3 3
.
2 Other Enterprise Funds 0
.
8 0
.
9 Total $59.9 $65.7
76% Taxes
14% Other Revenues
10% Fees for Services
52% Water
30% Sewer
12% Golf
5% Storm Drain
1% Other
52% Water
29% Sewer
10% Golf
7% Storm Drain
2% Other

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CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023 The net position is an overview of the City’s assets and liabilities . The change in total net position shows how much the balance of assets and liabilities has changed in the past year . The change in net position from FY 2021/22 to FY 2022/23 was an increase of two percent . This indicates that the City gained more assets than the increase in liabilities . The goal is to ensure the City’
s assets always exceed the liabilities .

NET POSITION
Net Position (in millions)
City Assets - What we own FY 2022 FY 2023
Current Assets (consisting mainly of cash and amounts owed to City) $328 .4 $336 .3 Capital assets consisting primarily of buildings, equipment and vehicles 688 .8 688 .4 Total City Assets
1,017 .2 1,024 .7
Deferred outflows of resources (future assets) 28 .8 66 .2 Total City Assets and Deferred Outflows
1,046 .0 1,090 .9
City Liabilities - What we owe
Current Liabilities consisting of all amounts the City owes, except for debt $29.0 $29 .6 Non-current liabilities (including long-term debt and pension obligations) 169 .8 246 .5 Total City Liabilities 198 .8 276 .1
Deferred inflows of resources (future liabilities) 72 .8 26 .6 Total City Liabilities and Deferred Inflows 271 .6 302 .7 City’s Net Financial P
osition $774.4 $788.2
8

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CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023 9 A fund balance is essentially the left over monies in a fund in addition to the assets owned by the fund after meeting all liabilities for the fund . Think of it as the account balance in a checking account left at the end of the month, after all the monthly purchases and bills are paid . These funds are then available for allocation to use in the next fiscal year and to retain as reserves . The City manages each fund to maintain a healthy fund balance that helps with long range planning and fiscal sustainability . The following charts show the fund balances for various governmental and enterprise funds .

FUND BALANCES
Governmental Funds - Fund Balance (in millions)
Enterprise Funds - Available Fund Balance (in millions) Other Governmental Funds
Other CIP Funds
Misc CIP Fund
Lower Income Housing Fund
General Fund
$25.4
$23.9
$44.4
$43.8
$13.1
$11.8
$57 .3
$- $10.0 $20.0 $30.0 $40.0 $50.0 $60.0
$52.2
FY 2021/22FY 2022/23
$27 .3
$25.9
Storm Drain Fund
Golf Fund
Other Enterprise Funds
Sewer Fund
Water Fund
$10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $70.0 $100.0$90.0$80.0$- $19.5
$21.2
$1.6
$1.6
$20.4
$19.7
$75.9
$89.4
$84.4
$78.6
FY 2022/23 FY 2021/22

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CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023 10 The City’s investment policy is designed to limit exposure to losses arising from a volatile market . The City limits investment to a maximum of five years of maturity . The City ’s investments are rated by nationally recognized rating organizations . The following table shows the amounts contributed by the City in the various types of investments .

INVESTMENTS
Standard &
Poor’s
Standard
& Poor’s
U.S. Government Agencies Medium Term Corporate Notes
Federal Farm Credit Bank AA+ 3M Company A+
Freddie Mac AA+ Apple, Inc . AA+
Federal Home L
oan Bank AA+ CitiBank NA A
Federal National Mortgage Association AA+ JPMorgan Chase Bank NA A+ Supranationals Microsoft, Inc . AAA
International Finance Corporation AAA P
ACCAR Financial Corporation A+
Toyota Motor Credit Corporation A+
Trust Bank A
Exxon Mobil Corporation AA
The City’s investments are rated by nationally recognized rating organizations . The City’s policy requires a rating of “A
” or better . As of June 30, 2023, the ratings for the City ’s investment portfolio, excluding pension related
investments and LAIF , are as follows:

Amount
U .S . Government Agencies $145,650,033
Corporate 29,246,420
PARS Trust 46,270,093
California Local Agency Investment Fund (LAIF) 59,089,710 Other 1,383,887
Total Investments $ 281,640,143 52% US Government
$1 45.7 million
10% Corporate
$29.2 million
16% PARS Trust
$46.3 million
21% LAIF $59.1 million
1 % Other $1.4 million

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CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023 The City is financially strong and manages its long term liabilities and debt strategically . The following table compares the outstanding balances on the City
’s long-term debt for FY 2022/23 compared with FY 2021/22 .

Overall, there is a reduction in the amount owed in both government and business -type funds .

Governmental activities debt decreased by

$143,907 in FY 2022/23 as a result of payments to:
• The California Energy Commission loan for the
LED Lighting Upgrade project
• Section 108 housing loan balance
Debt of the business-type activities decreased by

$1.3 million in FY 2022/23 due to payments to:
•
Golf Course Capital Lease debt
• California Clean Water State R
evolving Fund loan
• Water R
evenue Bonds, Series 2017

LONG TERM DEBT
Governmental Business-Type Total
Description FY 2021/22 FY 2022/23 FY 2021/22 FY 2022/23 FY 2021/22 FY 2022/23 California Energy
Commission (CEC) $93,907 $ - $ - $ - $93,907 $ -
HUD Section 108 Loan 636,000 586,000 - - 636,000 586,000 Golf Course Capital Lease - - 168,879 113,957 168,879 113,957 California Clean Water
SRF Loan - - 9,577,757 9,238,640 9,577,757 9,238,640
Water Revenue Bond - - 2,820,000 1,900,000 2,820,000 1,900,000 Total $729,907 $586,000 $ 12,566,636 $ 11,252,597 $ 13,296,543 $ 11,838,597 11

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CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023 12 Miscellaneous
Safety (Police)
Safety (Fire)
Totals
$75.2
$20.0
$28.8
$124.0
$117 .8
$48.0
$44.8
$210.6
$- $40.0 $80.0 $120.0 $160.0 $200.0
FY 2021/22FY 2022/23

PENSION OBLIGATIONS
The City participates in the California P
ublic Employees’ Retirement System (CalPERS) . Under this system there are three separate accounts used by the City . The employee benefits are determined by type of work (Police, Fire or Miscellaneous Employee), date of hire, years of service and age at retirement . Both the City and employees contribute toward the pension fund .

The City’s pension liability is measured as the total pension liability less the plans’ assets . While the City is currently fiscally stable, an increase to the pension liability can prove to be a challenge, since it increases pension contributions .

The City has taken measures to smooth the impact of these rates by creating a long-term fiscal plan and establishing a Section 115 P
ension Trust Fund, specially designed to manage pension rate fluctuations as needed .

T
o date, the City has allocated a total of $38 million toward this trust fund (balance at 6/30/23 with investment earnings is $46 million), which is administered by PARS Trust Fund, comprised of both short and long term investments . City Council also adopted policies that placed limits on the City’s ability to draw on the PARS Trust Fund to ensure funds are available for pension contributions during financially difficult times without having to reduce City services . In addition, to the extent to which the City is able to not draw on the PARS Trust Fund, the fund can grow through compounded investment earnings . The table below reflects the City’s pension liability for the different plans . The increase in liability for FY 2022/23 is due to investment loss in FY 2021/22 .1 F or more
information on the pension liability, please refer to the Annual Comprehensive Financial Report (ACFR) . 1 Pension liability decreased in FY 2021/22 due to higher investment earnings in FY 2020/21 . Pension liability increased in FY 2022/23 due to investment loss in FY 2021/22 Net Pension Liability (in millions)

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CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023 13 The City of Pleasanton provides retiree health benefits to employees that retire directly from the City . The value of this benefit is defined by negotiated labor contracts .

The City established an irrevocable trust set up with the California Employer’s Retiree Benefit Trust program (CERBT) administered by CalPERS, to help fund future health benefits
.

The table below reflects the City’s net OPEB liability as shown in the ACFR for FY 2022/23 as compared with FY 2021/22
.2

OTHER POST EMPLOYMENT BENEFITS (OPEB)
Net Liability as of: Non-Fire Fire Total
As of June 30, 2022 $6,252,000 $1,719,500 $7,971,500
As of June 30, 2023 16,694,000 4,083,500 20,777,500
Difference ($10,442,000) ($2,364,000) ($12,806,000 )
Percent Difference (167%) (137%) (161%)
2 OPEB liability decreased in FY 2021/22 due to higher investment earnings in FY 2020/21 . OPEB liability increased in FY 2022/23 due to investment loss in FY 2021/22 .

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CITY OF PLEASANTON POPULAR ANNUAL FINANCIAL REPORT | YEAR ENDED JUNE 30, 2023

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Pleasanton City CouncilFebruary 6, 2024

Pleasanton City Council
February 6, 2024