Pleasanton City Council
February 18, 2025

Public ArtEmployee Acquisition and Replacement/ Self-InsuranceBenefits Maintenance Renovation RetentionReconciliation of Operating Income (Loss) toto Net Cash Provided by (Used in) Operating Activities:Operating income (loss) (12,086,260)$ 85,838$ 2,761,915$ 903,193$ Adjustments to reconcile operating income (loss)to net cash provided by (used in) operating activities:Depreciation/amortization - 1,467 2,039,738 -(Increase)/decrease in accounts receivable, net 2,603 1,393 (15,739) (25,717)(Increase)/decrease in inventory and prepaids - - (1,158,892) -(Increase)/decrease in deferred outflows of resources related to pensions 2,048,018 - - - (Increase)/decrease in deferred outflows of resources related to OPEB - - - - Increase/(decrease) in accounts payableand other accrued expenses (642,925) 7,296 (86,554) 19,053 Increase/(decrease) in accrued payroll liabilities 388,735 - - (1,000) Increase/(decrease) in claims payable - - - 477,008 Increase/(decrease) in pension liabilities 13,222,729 - - - Increase/(decrease) in OPEB liabilities - - - - Increase/(decrease) in deferred inflows of resources related to pensions (3,256,311) - - - Increase/(decrease) in deferred inflows of resources related to OPEB - - - - Net cash provided by (used in) operating activities(323,411)$ 95,994$ 3,540,468$ 1,372,537$ (Continued) For the Year Ended June 30, 2024City of PleasantonCombining Statement of Cash Flows (Continued)All Internal Service Funds 238

RetireeInsurance PARS Section CityReserve 115 Enhancement TotalReconciliation of Operating Income (Loss) toto Net Cash Provided by (Used in) Operating Activities:Operating income (loss) 7,236,405$ -$ -$ (1,098,909)$ Adjustments to reconcile operating income (loss)to net cash provided by (used in) operating activities:Depreciation/amortization - - - 2,041,205(Increase)/decrease in accounts receivable, net - - - (37,460)(Increase)/decrease in inventory and prepaids - - - (1,158,892)(Increase)/decrease in deferred outflows of resources related to pensions - - - 2,048,018 (Increase)/decrease in deferred outflows of resources related to OPEB (3,131,319) - - (3,131,319) Increase/(decrease) in accounts payableand other accrued expenses (150,429) - - (853,559) Increase/(decrease) in accrued payroll liabilities - - - 387,735 Increase/(decrease) in claims payable - - - 477,008 Increase/(decrease) in pension liabilities - - - 13,222,729 Increase/(decrease) in OPEB liabilities 2,129,612 - - 2,129,612 Increase/(decrease) in deferred inflows of resources related to pensions - - - (3,256,311) Increase/(decrease) in deferred inflows of resources related to OPEB (4,611,588) - - (4,611,588) Net cash provided by (used in) operating activities 1,472,681$ -$ -$ 6,158,269$ (Concluded) For the Year Ended June 30, 2024City of PleasantonCombining Statement of Cash Flows (Continued)All Internal Service Funds 239

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Livermore-Pleasanton Fire Department (Livermore Share Only) -This fund accounts for the Livermore-Pleasanton FireDepartment activity related to operations, replacement and renovation of equipment, vehicles and facilities, and retiree medical.Miscellaneous Agencies -This fund collects various fees and contributions from developers and others and passes the money on tovarious government agencies (i.e. Zone 7 Water Agency, Dublin San Ramon Services District, Tri-Valley Transportation Council,etc.), or organizations.CUSTODIAL FUNDSCustodial Funds - report fiduciary activities that are not held in a trust or equivalent arrangement.Retiree Insurance - This fund collects money from retired employees and pays their share of health insurance bills.Downtown Merchant Improvements -This fund collects annual assessments from downtown businesses and passes it on to thePleasanton Downtown Association.Asset Forfeiture -This fund collects the assets forfeited as a result of investigations of criminal offenses, generally narcotics related.The money is passed on to various other governmental agencies. 241

DowntownRetiree Merchant Asset MiscellaneousInsurance Improvements Forfeiture AgenciesASSETS:Pooled cash and investments 20,053$ 79,473$ 64,015$ 1,546,998$ Receivables:Accounts 2,487 - - 85,502 Taxes - - - 631,997 Accrued Interest - 173 - - Total assets22,540 79,646 64,015 2,264,497 LIABILITIES:Accounts payable 9,868 78,404 - 2,142,668 Deposits payable 12,672 - - - Total liabilities22,540 78,404 - 2,142,668 NET POSITION:Restricted for other government agencies - - 64,015 121,829 Restricted for Pleasanton Downtown Association - 1,242 - - Restricted for Livermore Share of LPFD - - - - Total net position-$ 1,242$ 64,015$ 121,829$ (Continued) June 30, 2024City of PleasantonCombining Statement of Net PositionCustodial Funds 242

Livermore -PleasantonFire DepartmentLivermoreShare Only TotalASSETS:Pooled cash and investments 6,821,461$ 8,532,000$ Receivables:Accounts 1,878,531 1,966,520 Taxes - 631,997 Accrued Interest 14,599 14,772 Total assets8,714,591 11,145,289 LIABILITIES:Accounts payable 141,973 2,372,913 Deposits payable - 12,672 Total liabilities141,973 2,385,585 NET POSITION:Restricted for other government agencies - 185,844 Restricted for Pleasanton Downtown Association - 1,242 Restricted for Livermore Share of LPFD 8,572,618 8,572,618 Total net position8,572,618$ 8,759,704$ (Concluded) City of PleasantonJune 30, 2024Custodial FundsCombining Statement of Net Position (Continued) 243

DowntownRetiree Merchant Asset MiscellaneousInsurance Improvements Forfeiture AgenciesADDITIONS:Retired employees contributions 819,291$ -$ -$ -$ Taxes - 78,404 - - Intergovernmental - - - 5,635,806 Interest and change in fair value of investments - 1,242 - - Miscellaneous - - 38,691 - Total Additions819,291 79,646 38,691 5,635,806 DEDUCTIONS:Retiree benefits 922,071 - - - Contractual services - 123,576 - 5,633,606 Miscellaneous - - 5,374 - Total Deductions922,071 123,576 5,374 5,633,606 CHANGES IN NET POSITION(102,780) (43,930) 33,317 2,200 NET POSITION:Beginning of year, as previously presented as of June 30, 2023 102,780 45,172 30,698 119,629 Error corrections - - - - Beginning of year, as restated (Note 15) 102,780 45,172 30,698 119,629 End of year -$ 1,242$ 64,015$ 121,829$ (Continued) For the Year Ended June 30, 2024City of PleasantonCombining Statement of Changes in Fiduciary Net PositionCustodial Funds 244

Livermore -PleasantonFire DepartmentLivermoreShare Only TotalADDITIONS:Retired employees contributions -$ 819,291$ Taxes - 78,404 Intergovernmental 4,298,531 9,934,337 Interest and change in fair value of investments 375,334 376,576 Miscellaneous 577,109 615,800 Total Additions5,250,974 11,824,408 DEDUCTIONS:Retiree benefits - 922,071 Contractual services 3,263,366 9,020,548 Miscellaneous - 5,374 Total Deductions3,263,366 9,947,993 CHANGES IN NET POSITION1,987,608 1,876,415 NET POSITION:Beginning of year, as previously presented as of June 30, 2023 (2,943,990) (2,645,711) Error corrections 9,529,000 9,529,000 Beginning of year, as restated (Note 15) 6,585,010 6,883,289 End of year 8,572,618$ 8,759,704$ (Concluded) For the Year Ended June 30, 2024City of PleasantonCombining Statement of Changes in Fiduciary Net Position (Continued)Custodial Funds 245

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STATISTICAL SECTION(Unaudited)
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PageThis information is intended to assist users in understanding and assessing how a government'sfinancial position has changed over time.252-261This information is intended to assist users in understanding and assessing factors affecting agovernment's ability to generate its own revenue.265-269This information is intended to assist users in understanding and assessing a government's debt burdenand its ability to issue additional debt.272-278This information is intended to assist users in understanding socioeconomic environment within whicha government operates and provide information that facilitates comparison of financial statementinformation over time and among governments.281-283This information is intended to provide information about operations and resources to assist readers inusing financial statement information to understand and assess a government's economic condition.286-288Demographic and Economic InformationOperating Information This part of the City of Pleasanton's Annual Comprehensive Financial Report presents detailed information as a contextfor understanding what the information says about the City's overall financial health.STATISTICAL SECTION (UNAUDITED)Financial Trends InformationContentsRevenue Capacity InformationDebt Capacity Information 249

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Financial Trends InformationNet Position by Component - Last Ten Fiscal YearsChanges in Net Position - Last Ten Fiscal YearsFund Balances of Governmental Funds - Last Ten Fiscal YearsChanges in Fund Balances - Governmental Funds - Last Ten Fiscal Years 251

2015(1)2016 2017 2018 2019Governmental ActivitiesNet investment in capital assets487,153,226$ 497,839,233$ 509,064,211$ 504,882,313$ 498,338,562$ Restricted62,296,241 61,029,572 74,105,178 62,433,733 72,361,830 Unrestricted (1)(27,653,975) (16,776,353) (15,318,883) (49,675,582) (39,340,376)Total government activities net position 521,795,492$ 542,092,452$ 567,850,506$ 517,640,464$ 531,360,016$ Business-Type ActivitiesNet investment in capital assets176,512,644$ 182,841,810$ 183,305,729$ 183,231,147$ 176,192,351$ Restricted6,081,192 6,797,332 305,694 286,274 214,632Unrestricted42,651,779 39,918,554 44,690,494 40,236,159 47,002,659 Total business-type activities net position 225,245,615$ 229,557,696$ 228,301,917$ 223,753,580$ 223,409,642$ Primary GovernmentNet investment in capital assets663,665,870$ 680,681,043$ 692,369,940$ 688,113,460$ 674,530,913$ Restricted68,377,433 67,826,904 74,410,872 62,720,007 72,576,462 Unrestricted14,997,804 23,142,201 29,371,611 (9,439,423) 7,662,283 Total primary government activities net position 747,041,107$ 771,650,148$ 796,152,423$ 741,394,044$ 754,769,658$ Notes:(2) 2023 balances were restated due to error corrections.(1) In 2015, the negative unrestricted net position in Governmental Activities was attributable to the recording of net pension liability as a result ofthe implementation of GASB 68, Accounting and Financial Reporting for Pensions. In 2018, the negative unrestricted net position increased furtherdue to the recording of net OPEB liability as a result of the implementation of GASB 75, Accounting and Financial Reporting for Post-employmentBenefits Other than Pensions.

Fiscal Year Ended June 30(accrual basis of accounting)Last Ten Fiscal YearsNet Position by Component City of Pleasanton 252

2020 2021 20222023(2)2024Governmental ActivitiesNet investment in capital assets497,870,162$ 501,130,349$ 506,599,438$ 510,088,872$ 500,860,474$ Restricted118,402,861 92,880,765 123,317,825 97,139,124 132,229,937 Unrestricted (1)(81,114,037) (53,875,712) (66,895,059) (42,191,108) (51,956,598)Total government activities net position 535,158,986$ 540,135,402$ 563,022,204$ 565,036,888$ 581,133,813$ Business-Type ActivitiesNet investment in capital assets158,203,939$ 162,243,561$ 151,416,829$ 146,488,382$ 143,511,748$ Restricted230,477 245,503 887,253 1,073,648 1,055,744Unrestricted55,480,453 50,277,104 59,064,725 55,051,165 54,085,833 Total business-type activities net position 213,914,869$ 212,766,168$ 211,368,807$ 202,613,195$ 198,653,325$ Primary GovernmentNet investment in capital assets656,074,101$ 663,373,910$ 658,016,267$ 656,577,254$ 644,372,222$ Restricted118,633,338 93,126,268 124,205,078 98,212,772 133,285,681 Unrestricted(25,633,584) (3,598,608) (7,830,334) 12,860,057 2,129,235 Total primary government activities net position 749,073,855$ 752,901,570$ 774,391,011$ 767,650,083$ 779,787,138$ Fiscal Year Ended June 30(accrual basis of accounting)City of PleasantonNet Position by Component (Continued)Last Ten Fiscal Years 253

2015 2016 2017 2018 2019Program RevenuesGovernmental Activities:Charges for ServicesGeneral Government576,781$ 489,842$ 380,148$ 377,968$ 1,759,450$ Public Safety1,864,000 2,252,106 2,209,630 2,241,723 2,101,271Community Development 6,193,038 7,434,666 7,137,220 7,283,955 7,071,315Public Works (2)464,764 385,681 245,567 13,273 412,217Community Activities4,429,931 4,721,811 4,238,718 5,388,824 4,920,968Operating Grants and Contributions2,472,764 2,837,179 2,144,568 2,531,927 2,790,058Capital Grants and Contributions13,467,743 12,777,297 29,268,836 12,083,316 12,416,072 Total Government Activities:29,469,021 30,898,582 45,624,687 29,920,986 31,471,351Business-Type Activities:Charges for ServicesWater 17,700,120 17,639,091 24,979,440 28,469,053 27,106,096Sewer 14,274,645 13,861,477 14,756,465 14,635,697 14,894,626 Golf 3,620,949 3,825,552 3,678,545 3,772,104 3,713,019Transit (1)26,934 25,560 25,229 27,592 25,394 Storm Drain451,835 788,101 872,260 747,726 744,402 Cemetery58,310 72,743 120,202 283,690 161,243 Pleasanton Housing Authority182,096 129,879 - - - Electric Vehicle- 4,054 - - - Operating Grants and Contributions259,729 244,749 107,176 72,092 78,908 Capital Grants and Contributions- 8,215,464 5,072,145 1,879,164 1,223,357 Total Business-Type Activities36,574,618 44,806,670 49,611,462 49,887,118 47,947,045 Total Primary Government Revenues66,043,639$ 75,705,252$ 95,236,149$ 79,808,104$ 79,418,396$ ExpensesGovernmental Activities:General Government11,664,448$ 11,626,959$ 13,262,964$ 13,642,305$ 15,463,935$ Public Safety 45,039,711 44,667,204 50,423,097 49,340,797 52,306,605 Community Development15,545,862 14,680,399 15,053,634 20,126,026 16,697,040 Public Works (2)14,765,337 23,621,666 26,341,007 29,609,753 33,754,591Community Activities12,625,484 13,158,251 14,281,965 15,343,079 15,852,817 Interest on Long-Term Debt3,196 22,828 21,469 24,728 28,035 Total Government Activities:99,644,038 107,777,307 119,384,136 128,086,688 134,103,023 Business-Type Activities:Water 17,297,973 18,390,589 27,775,558 28,476,375 27,667,694 Sewer 14,585,270 14,986,417 15,952,170 16,243,756 17,308,963 Golf 4,923,007 4,896,052 4,955,932 5,129,759 4,849,230Transit 576,286 647,326 647,029 724,243 667,324Storm Drain1,166,224 2,426,049 2,502,935 1,866,129 2,570,902Cemetery50,420 20,755 266,740 187,186 245,796 Pleasanton Housing Authority386,248 347,495 134 166 59 Electric Vehicle- 2,500 - - - Total Business-Type Activities38,985,428 41,717,183 52,100,498 52,627,614 53,309,968 Total Primary Government Expense138,629,466$ 149,494,490$ 171,484,634$ 180,714,302$ 187,412,991$ Notes:

City of PleasantonFiscal Year Ended June 30(accrual basis of accounting)Last Ten Fiscal YearsChanges in Net Position (2) In 2024, Operations Services and Engineering were merged together to become the new Public Works Department.(1) During 2021, the City awarded an operator agreement to Black Tie Transportation, LLC to assume management and daily operations of the Cityof Pleasanton's Paratransit Service (PPS). As part of the agreement, Black Tie Transportation, LLC retains all fare box revenue collected.254

2020 2021 2022 2023 2024Program RevenuesGovernmental Activities:Charges for ServicesGeneral Government1,808,531$ 1,850,615$ 3,096,280$ 517,783$ 429,800$ Public Safety2,089,012 1,697,967 3,076,866 2,148,691 2,239,666Community Development 5,616,871 6,908,248 9,644,065 8,144,440 6,278,838Public Works (2)370,660 470,214 391,991 550,683 1,081,232Community Activities2,369,971 1,391,682 3,709,110 4,226,609 4,767,567Operating Grants and Contributions2,724,019 8,743,755 6,855,375 7,395,902 13,573,030Capital Grants and Contributions12,471,722 9,720,229 9,388,711 11,035,351 13,658,372 Total Government Activities:27,450,786 30,782,710 36,162,398 34,019,459 42,028,505Business-Type Activities:Charges for ServicesWater 30,074,927 32,117,734 28,915,523 28,164,385 33,117,123Sewer 15,235,355 15,785,961 15,989,841 15,659,500 16,837,884 Golf 3,225,018 4,534,434 5,981,897 5,918,315 6,314,582Transit (1)20,653 13,493 - - - Storm Drain719,550 525,758 524,912 545,016 528,755 Cemetery205,447 227,259 203,420 176,279 191,901Pleasanton Housing Authority- - - - -Electric Vehicle- - - - -Operating Grants and Contributions77,075 451,879 691,016 766,047 2,014,206 Capital Grants and Contributions1,519,616 - - - 878,000 Total Business-Type Activities51,077,641 53,656,518 52,306,609 51,229,542 59,882,451 Total Primary Government Revenues78,528,427$ 84,439,228$ 88,469,007$ 85,249,001$ 101,910,956$ ExpensesGovernmental Activities: General Government17,948,798$ 16,669,694$ 16,238,327$ 21,556,548$ 26,426,724$ Public Safety 53,337,713 57,790,167 47,661,010 52,909,879 65,733,516 Community Development17,485,023 27,169,629 15,839,480 20,008,311 13,910,529 Public Works (2)34,917,629 31,508,267 26,926,085 31,223,118 39,490,711Community Activities15,659,688 12,686,876 11,765,188 16,142,994 18,141,424 Interest on Long-Term Debt24,873 25,109 22,089 25,123 256,573 Total Government Activities:139,373,724 145,849,742 118,452,179 141,865,973 163,959,477 Business-Type Activities:Water 32,293,274 32,013,503 31,712,223 34,226,745 39,763,366 Sewer 16,281,822 17,080,279 17,695,297 19,408,703 19,853,028 Golf 4,733,225 5,063,628 5,533,360 6,196,503 7,054,062Transit 511,788 421,539 392,660 521,348 557,053Storm Drain2,800,668 2,433,953 2,087,642 2,728,994 2,670,738Cemetery264,288 289,197 356,262 396,153 389,418Pleasanton Housing Authority4 - - - -Electric Vehicle- - - - - Total Business-Type Activities56,885,069 57,302,099 57,777,444 63,478,446 70,287,665 Total Primary Government Expense196,258,793$ 203,151,841$ 176,229,623$ 205,344,419$ 234,247,142$ Notes:

Last Ten Fiscal Years(accrual basis of accounting)Fiscal Year Ended June 30City of Pleasanton (1) During 2021, the City awarded an operator agreement to Black Tie Transportation, LLC to assume management and daily operations of the Cityof Pleasanton's Paratransit Service (PPS). As part of the agreement, Black Tie Transportation, LLC retains all fare box revenue collected.(2) In 2024, Operations Services and Engineering were merged together to become the new Public Works Department.

Changes in Net Position (Continued)
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2015 2016 2017 2018 2019Net (Expenses)/Revenue:Governmental Activities:(70,175,017)$ (77,590,854)$ (74,023,542)$ (98,361,115)$ (102,631,672)$ Business-Type Activities:(2,410,810) 3,801,616 (2,224,943) (2,545,083) (5,362,923) Total Net (Expense)/Revenue (72,585,827) (73,789,238) (76,248,485) (100,906,198) (107,994,595) PositionGovernmental Activities:TaxesProperty taxes 53,744,273 57,276,734 61,203,788 65,730,411 69,930,013 Sales tax 22,410,654 23,543,972 23,362,536 21,764,560 22,959,956 Franchise fees 2,455,508 2,570,130 2,637,490 2,685,070 3,075,783 Business licenses taxes (1)- - - - -Transient occupancy taxes (1)- - - - -Other taxes (1)9,292,582 10,680,021 11,286,091 11,734,873 11,917,437Use of money and property (loss on investment) 1,493,023 1,878,574 1,029,883 1,087,214 7,443,513Miscellaneous 275,323 1,647,178 750,129 165,541 385,830Gain(Loss) on sale of capital assets (2)- - - - -Transfers (755,609) 291,205 (488,321) (1,100,016) (818,540) Total Government Activities:88,915,754 97,887,814 99,781,596 102,067,653 114,893,992 Business-Type Activities:Use of money and property (loss on investment) 325,838 486,865 208,100 353,862 1,549,905 Equity interest in gain from joint ventures - - - - - Miscellaneous 1,635,657 314,805 272,743 714,489 2,650,540 Transfers 755,609 (291,205) 488,321 1,100,016 818,540 Total Business-Type Activities2,717,104 510,465 969,164 2,168,367 5,018,985Total Primary Government 91,632,858 98,398,279 100,750,760 104,236,020 119,912,977 Change in Net PositionGovernmental Activities:18,740,737 20,296,960 25,758,054 3,706,538 12,262,320 Business-Type Activities:306,294 4,312,081 (1,255,779) (376,716) (343,938) Total Primary Government 19,047,031$ 24,609,041$ 24,502,275$ 3,329,822$ 11,918,382$ Notes:(1) In 2021, taxes were separated from Other taxes due to GFOA comments received on the FY20 CAFR(2) In 2021, Gain on sale of capital assets was separated from Miscellaneous revenue Fiscal Year Ended June 30(accrual basis of accounting)Last Ten Fiscal YearsChanges in Net Position (Continued)City of Pleasanton 256

2020 2021 2022 2023 2024Net (Expenses)/Revenue:Governmental Activities:(102,631,672)$ (115,067,032)$ (82,289,781)$ (107,846,514)$ (121,930,972)$ Business-Type Activities:(5,362,923) (3,645,581) (5,470,835) (12,248,904) (10,405,214) Total Net (Expense)/Revenue (117,730,366) (118,712,613) (87,760,616) (120,095,418) (132,336,186) PositionGovernmental Activities:TaxesProperty taxes 74,257,259 77,667,357 80,185,672 86,075,776 90,241,390 Sales tax 20,662,385 21,883,038 24,554,367 26,183,661 24,601,129 Franchise fees 4,984,643 2,941,829 3,028,577 3,284,092 3,440,134 Business licenses taxes (1)- 4,870,543 5,294,430 5,853,515 5,802,541Transient occupancy taxes (1)- 2,014,843 3,706,353 5,004,019 5,259,180Other taxes (1)10,380,382 1,285,625 1,506,516 725,627 908,069Use of money and property (loss on investment) 6,238,557 9,262,172 (12,797,952) 1,501,419 8,688,149 Miscellaneous 409,060 557,808 926,486 3,161,587 1,865,484 Gain(Loss) on sale of capital assets (2)- 80,336 158,205 105,290 -Transfers(1,210,378) (520,103) (1,386,071) (1,736,360) (2,778,179) Total Government Activities:115,721,908 120,043,448 105,176,583 130,158,626 138,027,897 Business-Type Activities:Use of money and property (loss on investment) 1,645,696 194,579 (2,770,311) 12,250 2,455,033 Equity interest in gain from joint ventures - - - - - Miscellaneous 1,177,745 1,782,198 5,457,714 1,987,397 1,212,132 Transfers1,210,378 520,103 1,386,071 1,736,360 2,778,179 Total Business-Type Activities4,033,819 2,496,880 4,073,474 3,736,007 6,445,344Total Primary Government 119,755,727 122,540,328 109,250,057 133,894,633 144,473,241 Change in Net PositionGovernmental Activities:3,798,970 4,976,416 22,886,802 22,312,112 16,096,925 Business-Type Activities:(1,773,609) (1,148,701) (1,397,361) (8,512,897) (3,959,870) Total Primary Government 2,025,361$ 3,827,715$ 21,489,441$ 13,799,215$ 12,137,055$ Notes:(1) In 2021, taxes were separated from Other taxes due to GFOA comments received on the FY20 CAFR(2) In 2021, Gain on sale of capital assets was separated from Miscellaneous revenue (accrual basis of accounting)Fiscal Year Ended June 30City of PleasantonChanges in Net Position (Continued)Last Ten Fiscal Years 257

2015 2016 2017 2018 2019General FundNonspendable 163,689$ 121,900$ 75,199$ 45,688$ 524,566$ Restricted (1)- - - - -Committed (2)13,319,218 12,019,088 11,634,112 - - Unassigned 7,085,423 8,481,624 10,763,003 27,610,496 29,077,433 Total General Fund20,568,330$ 20,622,612$ 22,472,314$ 27,656,184$ 29,601,999$ All Other Governmental Funds Restricted 62,296,241$ 61,029,572$ 65,496,260$ 62,433,733$ 72,361,830$ Committed - 1,980,559 - - - Assigned 21,493,248 15,607,802 21,279,871 26,598,477 32,319,322 Unassigned (680,538) (521,393) (1,165,707) - - Total All Other Governments Funds 83,108,951$ 78,096,540$ 85,610,424$ 89,032,210$ 104,681,152$ Notes:

City of Pleasanton
(3) 2023 balances were restated due to error corrections. (accrual basis of accounting)Last Ten Fiscal Years Fund Balances of Governmental Funds (2) Committed fund balance in the General Fund in 2024 represents Reserves for COVID Response and Recovery, Mobile Outreach Vehicle,Strategic Plan Implementation, Emergency Reserve and the Rainy Day Fund.(1) Restricted fund balance in the General Fund represents a portion of the amounts held in the City's PARS 115 Pension Trust Fund.Fiscal Year Ended June 30 258

2020 2021 20222023(3)2024General FundNonspendable 515,352$ 515,007$ 515,007$ 515,007$ 500,000$ Restricted (1)17,479,186 18,566,741 17,625,110 18,210,562 19,474,282Committed (2)- - 11,612,462 8,999,700 8,099,128 Unassigned 19,279,867 24,653,598 22,411,988 29,559,876 33,881,954 Total General Fund37,274,405$ 43,735,346$ 52,164,567$ 57,285,145$ 61,955,364$ All Other Governmental Funds Restricted 78,114,091$ 74,314,024$ 67,967,942$ 77,116,314$ 80,577,099$ Committed - - - - 6,125,219 Assigned 33,573,206 34,878,243 37,407,829 39,339,775 39,945,507 Unassigned - (697,414) - (123,118) - Total All Other Governments Funds 111,687,297$ 108,494,853$ 105,375,771$ 116,332,971$ 126,647,825$ Notes:

City of PleasantonFund Balances of Governmental Funds (Continued)Last Ten Fiscal Years (accrual basis of accounting) (3) 2023 balances were restated due to error corrections.

Fiscal Year Ended June 30(1) Restricted fund balance in the General Fund represents a portion of the amounts held in the City's PARS 115 Pension Trust Fund.(2) Committed fund balance in the General Fund in 2024 represents Reserves for COVID Response and Recovery, Mobile Outreach Vehicle,Strategic Plan Implementation, Emergency Reserve and the Rainy Day Fund. 259

2015 2016 2017 2018 2019Revenues:Taxes85,842,939$ 91,902,097$ 96,300,774$ 99,707,057$ 105,321,095$ Assessments204,755 206,219 207,293 205,355 209,533 Licenses (2)10,018 10,270 9,409 9,558 8,436Licenses and permits (2)3,276,533 3,307,959 3,598,675 3,190,162 3,347,546 Intergovernmental5,616,638 5,862,784 6,756,014 7,328,741 7,730,043 Franchises2,455,509 2,570,130 2,637,490 2,685,070 3,075,783 Charges for Services1,002,509 2,095,908 1,578,779 1,624,583 1,402,568 Use of Money and Property (Investment Loss)1,445,331 1,896,314 1,329,461 1,541,498 5,221,554 Fines and Forfeitures535,269 308,911 355,300 289,652 361,410 Plan Check fees1,963,429 2,776,668 2,856,220 2,559,503 2,121,702 Contributions181,937 864,641 676,935 618,492 727,802 Development Fees8,684,756 7,791,583 16,489,666 5,576,884 5,152,526 Reimbursements2,239,210 2,463,578 6,682,770 - - Miscellaneous3,067,997 1,865,217 1,584,539 5,297,525 4,871,504 Recreation Charges (3)4,063,003 4,242,435 4,107,359 5,204,196 4,775,360 120,589,833 128,164,714 145,170,684 135,838,276 144,326,862 Expenditures:Current:General Government12,590,280 12,709,762 13,221,537 13,699,733 14,535,495 Public Safety42,781,587 44,521,472 45,505,980 47,409,160 50,719,939 Community Development15,875,983 18,949,408 20,792,152 18,241,639 17,829,747 Public Works (4)7,624,563 18,028,059 17,439,410 19,610,005 20,509,438 Community Activities11,518,746 12,314,149 12,522,912 13,184,276 13,593,436 Capital Outlay17,322,318 21,499,776 20,737,214 15,357,331 7,982,326 Debt Service:Principal1,781,107 1,222,660 239,863 230,911 246,724 Interest & Fiscal Charges10,955 22,828 21,469 24,728 28,035 Total Expenditures109,505,539 129,268,114 130,480,537 127,757,783 125,445,140 Excess/(Deficiency of Revenues Over/(Under) Expenditures11,084,294 (1,103,400) 14,690,147 8,080,493 18,881,722 Other Financing Sources (Uses):Loan Proceeds1,468,014 1,198,962 - - - Transfers In 3,339,742 9,784,448 12,590,762 14,051,836 13,742,275 Transfers Out(5,902,855) (14,838,139) (17,917,323) (13,526,673) (15,029,240) Lease and Subscriptions- - - - - Total Other Financing Sources (Uses)(1,095,099) (3,854,729) (5,326,561) 525,163 (1,286,965) Net Change in Fund Balances9,989,195 (4,958,129) 9,363,586 8,605,656 17,594,757 Fund Balances:Beginning of Year93,688,086 103,677,281 98,719,152 108,082,738 116,688,394 End of Year103,677,281$98,719,152$ 108,082,738$116,688,394$134,283,151$Debt Service as a Percentage of Noncapital Expenditure (1)1.94% 1.15% 0.24% 0.22% 0.23%Notes:(3) In 2024, Operations Services and Engineering were merged together to become the new Public Works Department.(4) In 2024, Beginning of Year Fund Balance was restated Fiscal Year Ended June 30
(1) The amount of capital outlay used to calculate the ratio of total debt service expenditures to noncapital expenditures is presented as thereconciling item for capital outlay in the reconciliation between the government-wide statement of activities and the statement of revenues,(2) In 2021, Licenses was merged with Licenses and permits due to its immaterial amount.

City of PleasantonChanges in Fund Balances - Governmental FundsLast Ten Fiscal Years(accrual basis of accounting) 260

2020 2021 2022 2023 2024Revenues:Taxes105,812,873$ 108,256,799$ 115,858,531$ 124,467,976$ 126,812,309$ Assessments207,333 218,366 212,095 212,810 216,179 Licenses (2)7,505 - - - -Licenses and permits (2)2,717,733 3,105,893 4,983,302 3,601,131 3,914,590 Intergovernmental7,264,929 13,216,419 13,264,258 12,929,476 14,389,362 Franchises8,326,928 2,941,829 3,028,577 3,284,092 3,440,134 Charges for Services1,313,568 1,189,702 1,984,037 1,552,402 1,369,709 Use of Money and Property (Investment Loss)4,984,621 2,475,138 (7,481,535) (962,909) 9,485,979 Fines and Forfeitures274,002 169,570 229,513 216,676 209,856 Plan Check fees1,954,136 1,902,418 3,104,813 3,199,296 2,007,539 Contributions935,244 2,274,944 430,132 373,216 1,106,382 Development Fees2,131,626 1,922,309 3,040,318 4,253,025 2,625,960 Reimbursements- - - - - Miscellaneous4,407,463 5,842,012 9,307,600 10,128,630 11,622,537 Recreation Charges (3)2,310,189 - - - - 142,648,150 143,515,399 147,961,641 163,255,821 177,200,536 Expenditures:Current:General Government15,975,597 15,853,998 17,881,106 20,085,931 25,911,983 Public Safety50,325,353 52,073,568 55,040,561 57,380,788 64,197,183 Community Development16,672,236 24,648,286 17,675,974 19,096,652 11,525,146 Public Works (4)20,817,782 20,702,218 19,845,001 22,831,630 30,299,676 Community Activities12,708,258 10,386,941 12,781,002 14,971,191 16,236,566 Capital Outlay12,420,752 17,776,409 17,605,109 15,991,943 13,318,607 Debt Service:Principal244,541 226,406 238,275 641,901 1,072,564 Interest & Fiscal Charges24,873 25,109 22,089 25,123 77,571 Total Expenditures129,189,392 141,692,935 141,089,117 151,025,159 162,639,296 Excess/(Deficiency of Revenues Over/(Under) Expenditures13,458,758 1,822,464 6,872,524 12,230,662 14,561,240 Other Financing Sources (Uses):Loan Proceeds- - - - - Transfers In 11,596,091 10,809,142 11,000,861 10,431,684 7,200,783 Transfers Out(10,376,298) (9,363,109) (12,563,246) (14,160,982) (7,955,830) Lease and Subscriptions- - - 1,485,405 1,178,880 Total Other Financing Sources (Uses)1,219,793 1,446,033 (1,562,385) (2,243,893) 423,833 Net Change in Fund Balances14,678,551 3,268,497 5,310,139 9,986,769 14,985,073 Fund Balances:Beginning of Year134,283,151 148,961,702 152,230,199 157,540,338 173,618,116 End of Year148,961,702$152,230,199$ 157,540,338$167,527,107$188,603,189$Debt Service as a Percentage of Noncapital Expenditure (1)0.23% 0.20% 0.21% 0.50% 0.77%Notes:

Fiscal Year Ended June 30
(1) The amount of capital outlay used to calculate the ratio of total debt service expenditures to noncapital expenditures is presented as thereconciling item for capital outlay in the reconciliation between the government-wide statement of activities and the statement of revenues,(2) In 2021, Licenses was merged with Licenses and permits due to its immaterial amount.(3) In 2024, Operations Services and Engineering were merged together to become the new Public Works Department.(4) In 2024, Beginning of Year Fund Balance was restated City of PleasantonChanges in Fund Balances - Governmental Funds (Continued)Last Ten Fiscal Years(accrual basis of accounting) 261

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Revenue Capacity InformationAssessed Value and Estimated Actual Value of Taxable PropertyLast Ten Fiscal YearsDirect and Overlapping Property Tax Rates - Last Ten Fiscal YearsPrincipal Property Tax Payers - Current Year & Nine Years AgoProperty Tax Levies and Collections - Last Ten Fiscal Years 263

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Fiscal Year Net Taxable TotalEnded Net Public Net Assessed Direct TaxJune 30 Secured Utilities Unsecured Value (1) Rate (2)201517,986,025,380$ 1,398,984$ 674,719,475$ 18,662,143,839$ 0.2971%201618,941,502,719 865,618 804,706,503 19,747,074,840 0.2971%201720,020,565,177 848,576 850,802,064 20,872,215,817 0.2971%201821,273,403,047 184,502 864,794,746 22,138,382,295 0.2971%201922,875,081,517 175,828 921,504,266 23,796,761,611 0.2971%202024,040,121,665 176,156 1,200,845,680 25,241,143,501 0.2971%202125,057,095,287 173,458 1,416,950,790 26,474,219,535 0.2971%202225,935,106,293 160,599 1,262,780,885 27,198,047,777 0.2464%202327,721,111,817 153,259 1,265,694,093 28,986,959,169 0.2464%202429,287,300,559 148,598 1,365,443,058 30,652,892,215 0.2463%(1)(2)Source: Alameda County Office of the Auditor-Controller & HDL Company PackageThe net taxable assessed value provided by Alameda County is the only data currently available with respect to the actual market value oftaxable property.Unsecured property is taxed at the prior year direct tax rate.

City of PleasantonAssessed Value and Estimated Actual Value of Taxable PropertyLast Ten Fiscal Years 265

2015 2016 2017 2018 2019County Wide Levy (Net Pleasanton)0.7029 0.7029 0.7029 0.7029 0.7029 City of Pleasanton0.2971 0.2971 0.2971 0.2971 0.2971 County Wide GO Bond- - - - 0.0112 Dublin Joint Unified Bonds 1A & B (1)0.1077 0.0767 0.0972 0.1665 0.1452Pleasanton Unified School District0.0695 0.0239 0.0224 0.0672 0.0640 Community College District0.0217 0.0198 0.0246 0.0445 0.0443 Flood Zone 70.0250 0.0343 0.0333 0.0359 0.0332 Bay Area Rapid Transit District0.0045 0.0026 0.0080 0.0084 0.0070 Livermore Joint Unified (1)0.0497 0.0404 0.0886 0.0803 0.0771 Sunol Unified School District (1)0.0486 0.0429 0.0464 0.0489 0.0498 East Bay Regional Park District0.0085 0.0067 0.0032 0.0021 0.0057 Total 1.3352 1.2473 1.3237 1.4538 1.4375 Note: Rates are a percentage of total assessed value(1) Rate information became available in 2020 and the information was added to all prior years.Source: HDL Companies Fiscal Year Ended June 30Last Ten Fiscal YearsDirect and Overlapping Property Tax RatesCity of Pleasanton 266

2020 2021 2022 2023 2024County Wide Levy (Net Pleasanton)0.7029 0.7029 0.7536 0.7536 0.7537 City of Pleasanton0.2971 0.2971 0.2464 0.2464 0.2463 County Wide GO Bond0.0108 0.0036 0.0041 0.0103 0.0088 Dublin Joint Unified Bonds 1A & B (1)0.1460 0.1424 0.1964 0.1716 0.1612Pleasanton Unified School District0.0642 0.0580 0.0435 0.0422 0.0828 Community College District0.0422 0.0214 0.0458 0.0388 0.0416 Flood Zone 70.0309 0.0309 0.0307 0.0279 0.0267 Bay Area Rapid Transit District0.0120 0.0139 0.0060 0.0140 0.0134 Livermore Joint Unified (1)0.0743 0.0691 0.0706 0.0638 0.0540 Sunol Unified School District (1)0.0495 0.0483 - 0.0478 0.0491 East Bay Regional Park District0.0060 0.0014 0.0020 0.0058 0.0057 Total 1.4359 1.3890 1.3991 1.4222 1.4433 Note: Rates are a percentage of total assessed value(1) Rate information became available in 2020 and the information was added to all prior years.Source: HDL Companies Fiscal Year Ended June 30City of PleasantonDirect and Overlapping Property Tax Rates (Continued)Last Ten Fiscal Years 267

Percent of Percent of Taxable Total City Taxable Total CityAssessed Taxable Assessed TaxableValue Assessed Value AssessedTaxpayer Value Taxpayer ValueWorkday Inc.679,601,796$ 2.22% Kaiser 264,167,159$ 1.41%Kaiser 317,554,105 1.04%Stoneridge Properties243,030,900 1.29%Stoneridge Creek Pleasanton CCRC LLC 289,056,929 0.94% SFI Pleasanton LLC 219,942,146 1.17%Stoneridge Properties285,685,553 0.93% Safeway Inc. 150,698,132 0.80%Rosewood Commons Property Owner LLC 272,493,963 0.89% Stoneridge Residential LLC 148,086,880 0.79%Oak Owens 20172020 LLC 263,133,918 0.86% Applera Corporation 145,907,078 0.78%Essex Pleasanton Owner LP 210,688,668 0.69% Tishman Speyer Archstone Smith Hacienda 128,207,825 0.68%10X GENOMICS INC 206,574,269 0.67% Oracle America Inc/ PeopleSoft 127,431,038 0.68%GSIC II Stoneridge Owner LP 175,580,627 0.57% Continuing Life Communities 126,464,166 0.67%Stoneridge Residential LLC 174,509,873 0.57% 6200 Stoneridge Mall Road Investors LLC 124,055,226 0.66%2,874,879,701$ 9.38% 1,677,990,550$ 8.94%Source: HDL Companies Current Year and Nine Years AgoPrincipal Property TaxpayersCity of Pleasanton FY 2023/2024 FY 2014/2015 268

Fiscal Year Taxes Levied for Delinquent TaxEnded June 30the Fiscal Year (1)Amount Percent of LevyCollections (2)201559,017,605$ 58,536,604$ 99.18% 971,138$ 2016 (3)57,899,615 57,173,499 98.75% 726,117 201761,659,431 60,767,127 98.55% 892,304 201866,218,618 65,322,759 98.65% 895,859 201970,267,279 69,447,293 98.83% 819,986 202074,457,940 73,648,416 98.91% 809,524 202178,483,796 77,450,130 98.68% 1,033,666 202278,614,724 77,577,372 98.68% 1,037,352 202386,998,448 85,807,728 98.63% 1,190,720 202491,309,122 89,985,598 98.55% 1,323,524 (1)(2)(3)Source: Alameda County Office of the Auditor-ControllerAlameda County does not provide delinquent tax collection data by levy year or distinguish between delinquent taxes and penalties andinterest, so the amounts shown in the delinquent tax collections column include the delinquency collections for all prior years, includingpenalties and interest, that were remitted to the City in each fiscal year.Backfill payments from Proposition 57, The California Economic Recovery Bond Act (Triple Flip) ended during 2016. Local agencies nowreceive the full one percent local sales tax, and no backfill payment will be required in the future.Total Tax Levy includes estimated Unitary Tax, estimated supplemental assessments, homeowners' exemptions, In Lieu Vehicle License Feesand In Lieu Sales and Use Tax. Educational Revenue Augmentation Fund payments have been deducted from the Total Tax Levy beginningin 1993.

City of PleasantonProperty Tax Levies and Collections Last Ten Fiscal YearsCollection within the Fiscal Year of Levy 269

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Debt Capacity InformationRatios of Outstanding Debt by Type - Last Ten Fiscal YearsRatio of General Bonded Debt Outstanding - Last Ten Fiscal YearsDirect and Overlapping Debt - Year Ended June 30, 2024Legal Debt Margin - Last Ten Fiscal YearsPledged-Revenue Coverage for the Water Fund - Last Ten Fiscal Years 271

Fiscal Year TotalEnded Notes and Financed GovernmentalJune 30 Subscriptions/Leases Purchase Payable Activities2015-$ 2,180,326$ 2,180,326$ 2016- 2,156,627 2,156,627 2017- 1,916,764 1,916,764 2018- 1,685,853 1,685,853 2019- 1,439,129 1,439,129 2020- 1,194,588 1,194,588 2021- 968,182 968,182 2022- 729,907 729,907 2023987,411 586,000 1,573,411 20241,314,774 3,293,887 4,608,661 (1)In June 2024, the City issued $17,275,000 with a premium of $1,959,574 of Water Revenue Bonds, Series 2024 to financecertain improvements to the City's Water system, and the Series 2017 Water Bonds were fully paid off in April 2024.

Governmental ActivitiesCity of PleasantonRatios of Outstanding Debt by Type Last Ten Fiscal Years 272

Fiscal Year Water Notes/Loans Total Percentage DebtEnded Revenue Finance Purch. Primaryof Personal Per June 30 Bonds (1) Payable Subscriptions Government Income Capita2015-$ 113,797$ -$ 2,294,123$ 0.1% 30.60$ 2016- 6,084,296 - 8,240,923 0.2% 112.85 20177,100,000 10,535,992 - 19,552,756 0.5% 260.77 20186,305,000 10,167,186 - 18,158,039 0.5% 239.19 20195,460,000 9,914,295 - 16,813,424 0.4% 212.29 20204,600,000 9,804,045 - 15,598,633 0.3% 193.79 20213,720,000 10,265,344 - 14,953,526 0.3% 188.18 20222,820,000 9,746,636 - 13,296,543 0.2% 169.66 20231,900,000 9,352,597 504,169 13,330,177 0.2% 171.76 202419,234,574 9,205,517 767,498 33,816,250 0.5% 445.18 (1)In June 2024, the City issued $17,275,000 with a premium of $1,959,574 of Water Revenue Bonds, Series 2024 to financecertain improvements to the City's Water system, and the Series 2017 Water Bonds were fully paid off in April 2024.

Business-Type ActivitiesCity of PleasantonRatios of Outstanding Debt by Type (Continued)Last Ten Fiscal Years 273

Fiscal YearGeneralTax Percent ofEndedObligation Allocation AssessedPerJune 30 Bonds Bonds TotalValueCapita2015-$ -$ -$ 0.000% -$ 2016- - - 0.000% - 2017- - - 0.000% - 2018- - - 0.000% - 2019- - - 0.000% - 2020- - - 0.000% - 2021- - - 0.000% - 2022- - - 0.000% - 2023- - - 0.000% - 2024- - - 0.000% - Governmental ActivitiesLast Ten Fiscal YearsRatio of General Bonded Debt OutstandingCity of Pleasanton 274

2023/24 Net Assessed Valuation: 30,652,892,215$ Overlapping Tax Debt:Outstanding Debt 06/30/24Percentage Applicable (1)Estimated Share of Overlapping DebtAlameda County 497,295,000$ 7.645% 38,018,203$ Bay Area Rapid Transit District 2,445,575,000 3.035% 74,223,201Chabot-Las Positas Community College District 947,675,000 18.577% 176,049,585 Dublin Joint Unified School District 755,993,070 0.001% 7,560 Livermore Valley Joint Unified School District 228,445,000 1.649% 3,767,058 Pleasanton Unified School District 278,860,000 97.657% 272,326,310 Sunol Glen Unified School District 3,080,150 0.002% 62 East Bay Regional Park District 144,520,000 4.771% 6,895,049 Total Overlapping Tax Debt:571,287,029$ Ratios to Net Assessed Valuation:Total Overlapping Tax Debt1.86%Direct and Overlapping General Fund Debt:Alameda County General Fund Obligations 656,746,000$ 7.645% 50,208,232$ Dublin Unified School District General Fund Obligations 24,876,714 0.001% 249 Livermore Valley Joint Unified School District General Fund Obligations 13,638,427 1.649% 224,898 Pleasanton Unified School District General Fund Obligations 30,000,000 97.657% 29,297,100 Livermore Area Recreation and Park District Pension Obligation Bonds 11,115,000 3.319% 368,907 City of Pleasanton Notes, Subscriptions and Leases 4,608,661 100.000% 4,608,661Total Direct and Overlapping General Fund Debt: 84,708,046Combined Total Debt 655,995,075$ (2)Total Direct Debt 4,608,661$ Total Overlapping Debt 651,386,414Combined Total Debt 655,995,075$ (2)(1)(2)Ratios to Assessed Valuation:Total Overlapping Tax and Assessment Debt 1.86%Total Direct Debt ($4,608,661)0.015%Combined Total Debt 2.14%Sources: California Municipal Statistics, Inc., Alameda County Office of the Auditor-Controller, and City of Pleasanton Department of Finance.

City of PleasantonDirect and Overlapping DebtFor the Year ended June 30, 2024 Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations.The percentage of overlapping debt applicable to the City is estimated using taxable assessed property value. Applicable percentages wereestimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the City divided by thedistrict's total taxable assessed value.275

2015 2016 2017 2018 2019Net Assessed Valuation18,662,143,839$ 19,747,074,840$ 20,872,215,817$ 22,138,382,295$ 23,796,761,611$ Conversion Percentagefor Calculation of Debt Limit25% 25% 25% 25% 25%Adjusted Assessed Valuation 4,665,535,960 4,936,768,710 5,218,053,954 5,534,595,574 5,949,190,403 Debt Limit Percentage 15% 15% 15% 15% 15%Legal Debt Limit699,830,394 740,515,307 782,708,093 830,189,336 892,378,560 Amount of Debt Subject to Limit - - - - - Legal Debt Margin699,830,394$ 740,515,307$ 782,708,093$ 830,189,336$ 892,378,560$ Total Debt Applicable to Limit as a Percentage of Debt Limit0.00% 0.00% 0.00% 0.00% 0.00%Source: City of Pleasanton Finance DepartmentAlameda County Office of the Auditor-Controller Fiscal Year Ended June 30Last Ten Fiscal YearsLegal Debt Margin City of Pleasanton 276

2020 2021 2022 2023 2024Net Assessed Valuation25,241,143,501$ 26,474,219,535$ 27,198,047,777$ 28,986,959,169$ 30,652,892,215$ Conversion Percentagefor Calculation of Debt Limit25% 25% 25% 25% 25%Adjusted Assessed Valuation 6,310,285,875 6,618,554,884 6,799,511,944 7,246,739,792 7,663,223,054 Debt Limit Percentage 15% 15% 15% 15% 15%Legal Debt Limit946,542,881 992,783,233 1,019,926,792 1,087,010,969 1,149,483,458 Amount of Debt Subject to Limit - - - - - Legal Debt Margin946,542,881$ 992,783,233$ 1,019,926,792$ 1,087,010,969$ 1,149,483,458$ Total Debt Applicable to Limit as a Percentage of Debt Limit0.00% 0.00% 0.00% 0.00% 0.00%Source: City of Pleasanton Finance DepartmentAlameda County Office of the Auditor-Controller Fiscal Year Ended June 30City of PleasantonLegal Debt Margin (Continued)Last Ten Fiscal Years 277

Fiscal YearLess Net EndedWaterOperatingAvailable Debt Service June 30 RevenuesExpenses Revenue PrincipalInterestTotalCoverage201518,388,477$ 16,023,599$ 2,364,878$ -$ -$ -$ N/A201618,236,204 14,034,696 4,201,508 - - - N/A201725,664,616 19,784,665 5,879,951 - 152,756 152,756 38.49 201828,778,209 22,214,564 6,563,645 1,097,501 241,580 1,339,081 4.90 201927,555,651 22,115,662 5,439,989 1,143,335 227,782 1,371,117 3.97 202030,701,446 25,923,528 4,777,918 1,161,318 206,496 1,367,814 3.49 202133,249,401 27,280,341 5,969,060 1,184,331 184,815 1,369,146 4.36 202230,392,165 27,002,502 3,389,663 1,239,256 175,620 1,414,876 2.40 202329,268,783 28,497,694 771,089 1,259,117 145,918 1,405,035 0.55 202436,924,353 32,394,268 4,530,085 2,242,508 118,990 2,361,499 1.92 Source: City of Pleasanton, Finance Department City of PleasantonPledged-Revenue Coverage for the Water FundLast Ten Fiscal YearsNote: Revenue and expense totals differ from totals in the financial statements because bond rate covenants include and exclude various line itemamounts (e.g. depreciation and General Fund interfund transfer that was subordinate to the payment of Bonds). 278

Demographic and Economic InformationDemographic and Economic Statistics - Last Ten YearsPrincipal Employers - Current Year and Nine Years AgoFull-Time, Part-Time and Limited Term Employees by Function - Last Ten Fiscal Years 279

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Per CapitaPersonal Personal UnemploymentYear Population Income Income Rate201473,028 3,612,987,000$ 49,474$ 4.6%201574,982 3,729,303,000 49,736 3.7%201675,916 3,926,999,000 51,728 3.3%201779,201 4,296,377,000 54,246 2.2%201880,492 4,765,758,000 59,208 2.5%201979,464 5,214,992,000 65,627 2.5%202078,371 5,683,504,000 72,520 6.3%202177,609 5,734,230,000 73,886 4.5%202276,459 6,077,723,000 79,490 2.7%202375,960 6,550,249,000 86,233 3.7%Source:HDL Companies - Statistical PackageMost current year available from HDL is for 2023Last Ten YearsDemographic and Economic StatisticsCity of Pleasanton 281

Percent of Percent ofNumber of Total Number of TotalEmployer Employees Employment Employer Employees EmploymentWorkday Inc* (1)5,399 9.12% Kaiser Permanente 3,741 6.79%Kaiser Foundation Hospitals 3,019 5.10%Safeway Inc* (1)2,600 4.72%Pleasanton Unified School District 1,373 2.32%Workday Inc* (1)2,250 4.09%Safeway Inc* (1)1,348 2.28% Oracle 1,612 2.93%Stanford Healthcare - Trivalley 1,124 1.90% Valley Care Medical Center 1,300 2.36%Veeva Systems Inc* (1)945 1.60% Pleasanton Unified School District 1,293 2.35%Roche Molecular Systems Inc. 927 1.57% Ellie Mae 832 1.51%Oracle America Inc 882 1.49% Clorox Service Company 682 1.24%10x Genomics* (1)600 1.01% State Fund Compensation Ins. 650 1.18%Life Technologies 579 0.98% Thermo Fisher Scientific 579 1.05%Ice Mortgage Technology Inc 548 0.93% Macy's 556 1.01%SMM Facilities Inc 442 0.75% Veeva Systems 538 0.98%Blackhawk Network Inc 383 0.65% Roche Molecular Systems Inc. 510 0.93%Clorox Services Company 369 0.62% EMC Corporation 507 0.92%Sensiba San Filippo LLP 331 0.56%Thoratec Corporation* (1)481 0.87%(1) HeadquartersSources: City of Pleasanton Economic Development Department City of PleasantonPrincipal EmployersCurrent Year and Nine Years AgoFY 2023/24 FY 2014/15 282

Function2015 2016 2017 2018 2019 2020 2021 2022 2023 2024General Government38.0 39.0 40.0 38.6 38.6 41.3 41.3 43.6 48.0 48.4Public Safety (1)175.3 178.0 178.1 181.5 182.5 181.3 181.3 182.3 182.5 183.0Community Development48.4 51.5 51.5 55.1 54.1 52.5 52.5 54.5 47.0 28.7Public Works (2)60.0 61.5 62.0 61.2 62.5 62.2 62.2 61.5 61.5 79.5Community Activities45.0 44.5 45.5 46.5 46.5 50.5 50.5 51.0 51.0 51.1Utilities & Paratransit38.0 38.0 40.5 41.3 41.1 43.2 45.6 40.4 40.6 40.5Total 404.6 412.5 417.6 424.2 425.4 430.9 433.3 433.3 430.57 431.03(1)(2)Source: City of Pleasanton Budget Last Ten Fiscal YearsFull-Time, Part-Time and Limited Term Employees by FunctionCity of PleasantonFiscal Year Ended June 30Public Safety includes Police personnel and the City of Pleasanton's cost share allocation of Livermore-Pleasanton Fire Department (LPFD)personnel per Joint Powers Agreement; does not include Livermore fire personnel in LPFD.In 2024, Operations Services and Engineering were merged together to become the new Public Works Department. 283

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Operating InformationOperating Indicators by Function - Last Ten Fiscal YearsCapital Asset Statistics by Function - Last Ten Fiscal Years 285

2015 2016 2017 2018 2019Fire:Number of Responses (Pleasanton only)4,849 5,133 5,579 6,010 5,954Number of Inspections (Pleasanton only)1,552 1,912 1,538 1,301 1,388Library: (1)Annual Circulation1,309,117 353,184 1,223,999 1,217,063 1,091,852Gate Count (# of people thru the doors) (1)529,996 521,042 527,240 607,451 594,225e-Resources50,000 87,876 71,667 69,826 97,482Finance Department:Business Licenses Issued9,776 9,817 9,729 9,461 9,497Parks & Community Services: (1)Paratransit Trips10,725 10,291 8,932 8,024 7,687Golf Revenue Rounds Played 56,066 55,389 51,485 50,317 46,826Aquatics Programs (No. of Participants) 40,803 39,992 39,992 32,296 35,102Sports, Camps, Classes and Leagues (No. of Participants)55,054 62,817 56,155 58,405 61,475Amador Theater & Firehouse Arts Center (No. of Patrons) (2)42,759 48,809 50,121 66,250 41,467Public Works:Streets Resurfacing (miles)12.9 1.0 1.0 2.0 5.1Utility Bills Generated134,559 134,741 123,571 134,405 133,007New Water Connections124 99 54 42 75Gallons Delivered (in million gallons/day)10.8 mgd 10.9 mgd 11.2 mgd 11.8 mgd 12.2 mgdNew Sewer Connections285 374 79 83 98Source: City of Pleasanton Community Services and Public Works Fiscal Year Ended June 30
(1) Due to the COVID-19 pandemic in 2020 and the resulting Alameda County Shelter-in-Place Order in March of 2020, non-essential Cityservices (library and recreation) were shut-down resulting in decreases in numbers with the exception of Library e-Resources which increased.(2) Indoor theater performances were among the last of the facilities allowed to open under state/county orders. They were allowed to open on April15, 2021 with limited occupancy, the first show was in May 2021.

City of PleasantonOperating Indicators by Function Last Ten Fiscal Years 286

2020 2021 2022 2023 2024Fire:Number of Responses (Pleasanton only)5,624 5,615 6,363 6,777 6,961Number of Inspections (Pleasanton only)1,460 616 575 468 553Library: (1)Annual Circulation852,615 463,420 828,312 801,846 884,953Gate Count (# of people thru the doors) (1)399,594 41,239 264,223 290,145 380,037e-Resources212,275 248,074 180,748 167,583 193,460Finance Department:Business Licenses Issued9,142 8,040 8,150 8,011 8,125Parks & Community Services: (1)Paratransit Trips5,815 1,810 3,468 5,475 6,726Golf Revenue Rounds Played 44,005 70,792 79,752 72,340 73,759Aquatics Programs (No. of Participants) 23,953 13,276 35,621 40,821 39,296Sports, Camps, Classes and Leagues (No. of Participants)18,196 19,101 59,080 119,776 18,855Amador Theater & Firehouse Arts Center (No. of Patrons) (2)30,066 1,096 3,398 19,151 19,286Public Works:Streets Resurfacing (miles)11.0 16.0 8.6 7.5 9.5Utility Bills Generated133,015 141,594 137,409 136,442 136,539New Water Connections56 37 19 20 27Gallons Delivered (in million gallons/day)13.1 mgd 13.3 mgd 12.0 mgd 11.94 11.34 New Sewer Connections64 51 19 20 22Source: City of Pleasanton Community Services and Public Works(1) Due to the COVID-19 pandemic in 2020 and the resulting Alameda County Shelter-in-Place Order in March of 2020, non-essential Cityservices (library and recreation) were shut-down resulting in decreases in numbers with the exception of Library e-Resources which increased.(2) Indoor theater performances were among the last of the facilities allowed to open under state/county orders. They were allowed to open on April15, 2021 with limited occupancy, the first show was in May 2021.

Fiscal Year Ended June 30City of PleasantonOperating Indicators by Function (Continued)Last Ten Fiscal Years 287

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024Police:Stations1 1 1 1 1 1 1 1 1 1Fire:Stations (Pleasanton only)5 5 5 5 5 5 5 5 5 5Library:Branches1 1 1 1 1 1 1 1 1 1Parks & Community Services:Acres of Parks Maintained (1)390 335 447 451 451 451 451 451 451 451Municipal Golf Courses1 1 1 1 1 1 1 1 1 1Aquatic Centers1 1 1 1 1 1 1 1 1 1Senior Centers1 1 1 1 1 1 1 1 1 1Public Works:Streets (miles)215 215 216 208 208 208 208 213 215 215Streetlights6,247 6,262 6,534 6,534 6,534 6,534 6,534 6,534 6,537 6,539Traffic Signals104 104 106 106 106 108 108 109 109 109Water:Water mains (miles)329 329 314 331 327 360 378 381 381 340Pumping Capacity (gallons/day)31.0M 31.0M 31.0M 31.0M 31.0M 31.0M 31.0M 31.0M 31.0M 31.0MWastewater:Sanitary Sewers (miles)258 258 259 259 260 258 258 261 261 260Storm Sewers (miles)194 194 194 194 195 243 196 196 196 200Source: City of Pleasanton Community Services and Public Works(1) In 2016, the Parks Dept began using GPS technology to better calculate the acres of parks in the City. The true number of acres has decreasedto 335 based on the current audit of the parks.

City of PleasantonCapital Asset Statistics by FunctionLast Ten Fiscal YearsFiscal Year Ended June 30 288

City of Pleasanton
Alameda County Transportation
Commission
Measure B Program
Pleasanton, California
Independent Auditors’ Reports
and Financial Statements
For the Year Ended June 30, 2024
ATTACHMENT 2

City of Pleasanton Alameda County Transportation Commission Measure B Program For the Year Ended June 30, 2024 Table of Contents Page Independent Auditors’ Report on the Audit of Financial Statements ...................................................................... 1 Financial Statements: Balance Sheet ............................................................................................................................................................ 7 Statement of Revenues, Expenditures, and Change in Fund Balance ....................................................................... 8 Notes to the Financial Statements ............................................................................................................................. 9 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 ............................................................................................. 13 Independent Auditors’ Report on Compliance and Report on Internal Control Over Compliance ..................................................................................................................... 15

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INDEPENDENT AUDITORS’ REPORT To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Report on the Audit of the Financial Statements Opinion We have audited the financial statements of the City of Pleasanton Alameda County Transportation Commission Measure B Program (the “Program”) of the City of Pleasanton, California (the “City”) as of and for the year ended June 30, 2024, and the related notes to the financial statements, as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the Program of the City as of June 30, 2024, and the change in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (“GAAS”), and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (“Government Auditing Standards”). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matters Financial Statements Presentation As discussed in Note 1, the financial statements present only the Program and do not purport to, and do not, present fairly the financial position of the City as of June 30, 2024, the changes in its financial position, or where applicable, its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter. Responsibility of Management for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; 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.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 2 2 Auditors’ Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and Government Auditing Standards, we: exercise professional judgment and maintain professional skepticism throughout the audit; identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements; obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of 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. 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 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 Accounting Standards Board, who considers it to be an essential part of financial reporting for placing basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by this missing information.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 3 3 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 27, 2024, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance. Santa Ana, California December 27, 2024

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FINANCIAL STATEMENTS
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Bicycle and PedestrianSpecial RevenueFundASSETSCash and investments 410,505$ Interest receivable 948 Total assets411,453 LIABILITIES AND FUND BALANCELiabilities:10,670 Accounts payable 10,670 Total liabilities10,670 Fund Balance:Restricted for Measure B Programs and Projects 400,783 Total fund balance400,783 Total liabilities and fund balance 411,453$ City of Pleasanton Balance SheetJune 30, 2024Measure B ProgramAlameda County Transportation Commission See accompanying Notes to the Financial Statements. 7

Bicycle and PedestrianSpecial RevenueFundREVENUES:Other Measure B revenues:Investment earnings:Interest and earnings on fair market value of investments 56,434$ Total revenues56,434 EXPENDITURES:Measure B Direct Local Distribution Program Expenditures:Measure B Capital Outlay 140,726 Total expenditures140,726 NET CHANGE IN FUND BALANCE(84,292) FUND BALANCE:Beginning of year 485,075 End of year 400,783$ City of Pleasanton Statement of Revenues, Expenditures, and Change in Fund BalanceFor the Year Ended June 30, 2024Measure B ProgramAlameda County Transportation Commission See accompanying Notes to the Financial Statements. 8

City of Pleasanton Alameda County Transportation Commission Measure B Program Notes to the Financial Statements For the Year Ended June 30, 2024 9 Note 1 – The Reporting Entity All transactions of the Alameda County Transportation Commission – Measure B Program (the “Program”) of the City of Pleasanton, California (the “City”), are reported in a separate special revenue fund in the basic financial statements of the City. Measure B funds are restricted for bicycle and pedestrian safety improvement projects around the City. The accompanying financial statements are for the Program only and are not intended to fairly present the financial position of the City or the results of its operations. Note 2 – Summary of Significant Accounting Policies A. Basis of Accounting The accompanying financial statements present only the Program and are not intended to present the financial position, and changes in financial position of the City in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accounting policies of the Program are in accordance with U.S. GAAP applicable to governmental units. The Governmental Accounting Standards Board (“GASB”) is the accepted standard-setting body for establishing accounting and financial reporting principles. The accompanying financial statements of special revenue funds are prepared on the modified accrual basis of accounting. Measure B program revenues are generally recorded when measurable and available (generally 90 days after year-end), and expenditures are recorded when the related liabilities are incurred. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a “current financial resources” measurement focus, wherein only current assets and current liabilities generally are included on the balance sheets. Operating statements of governmental 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 which are used to account for the proceeds of specific revenue sources that are restricted or committed to expenditure for specified purposes other than debt service or capital projects. 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. The Program funds account for moneys received from voter-approved Measure B which is to be used for street construction, repair, and maintenance and for bicycle and pedestrian safety projects.

City of Pleasanton Alameda County Transportation Commission Measure B Program Notes to the Financial Statements (Continued) For the Year Ended June 30, 2024 10 Note 2 – Summary of Significant Accounting Policies (Continued) C. Cash and InvestmentsThe Program’s cash is pooled with the City’s internal investment pool. The share of each fund in the pooled cashaccount was separately maintained and interest income was apportioned to the participating funds based on therelationship of their average daily cash balances to the total of the pooled cash and investments at the end of eachquarter.D. ReceivablesAll receivables are shown net of an allowance for uncollectible amounts.E. Fund BalanceMeasure B fund balance is restricted. A restricted fund balance represents amounts that can be spent only forspecific purposes because of constitutional provisions or enabling legislation or because of constraints that areexternally imposed by creditors, grantors, contributors, or the laws or regulations of other governments.When expenditures are incurred for purposes for which both restricted and unrestricted fund balance is available,the City considers restricted funds to have been spent first.F. Use of EstimatesThe preparation of financial statements in accordance with U.S. GAAP requires management to make estimatesand assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ fromthose estimates.Note 3 – Cash and Investments The Program's cash and investments are pooled with the City of Pleasanton in the amount of $410,505. Each Fund's share of the pooled cash account is separately accounted for, and investment income is allocated to all participating funds based on the relationship of their daily cash balances to the total of the pooled cash and investments at the end of each quarter. Information regarding the authorized types of deposits and investments, the type of risks (i.e. credit, interest rate, custodial, etc.) and other disclosures associated with the Program's pooled cash and investments is included in the City's basic financial statements, which are available at the City of Pleasanton at 123 Main Street, Pleasanton, California 94566 or on the City’s website at https://www.cityofpleasantonca.gov. 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 may be disallowed by the granting agencies, and cannot be determined at this time. The City expects such amounts, if any, to be immaterial.

City of Pleasanton Alameda County Transportation Commission Measure B Program Notes to the Financial Statements (Continued) For the Year Ended June 30, 2024 11 Note 5 – Measure B Funds Under Measure B, approved by the voters of Alameda County in 1986 (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 sales tax collections were in effect for 20 years from April 1, 2002 through March 31, 2022. As of June 30, 2024, the City is still in process of spending down its Measure B Bicycle and Pedestrian proceeds. Projects funded by Measure B during Fiscal Year 2023/24 included the West Las Positas Boulevard Multimodal Reconstruction Project under the City’s Bicycle and Pedestrian Safety Program.

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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 Independent Auditors’ Report To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California We have audited, in accordance with the 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, the financial statements of the Alameda County Transportation Commission Measure B Program (“the Program”) of the City of Pleasanton, California (“City”), as of and for the year ended June 30, 2024, and the related notes to the financial statements and have issued our report thereon dated December 27, 2024. Report on Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, 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 opinion 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. A deficiency in internal control exists when the design or operation of a control does not allow 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 City’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe 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 control 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.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 2 14 Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the financial statements of the Program are free of 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 these 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. 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 effectiveness of the entity’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 entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Santa Ana, California December 27, 2024

REPORT ON COMPLIANCE AND REPORT ON INTERNAL CONTROL OVER COMPLIANCE Independent Auditors’ Report To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Report on Compliance for Alameda County Transportation Commission Measure B Program Required by Alameda County Transportation Commission Opinion on Alameda County Transportation Commission Measure B Program We have audited the Alameda County Transportation Commission Measure B Program (“the Program) of the City of Pleasanton, California’s (the “City”) compliance with the types of compliance requirements described in the agreement with the Alameda County Transportation Commission, dated July 1, 2016 (the “Agreement”) for the year ended June 30, 2024. In our opinion, the City complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on the City’s compliance with the Agreement for the year ended June 30, 2024. Basis for Opinion on Alameda County Transportation Commission Measure B Program We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (“GAAS”); the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (“Government Auditing Standards”); and the audit requirements of the Agreement. Our responsibilities under those standards and the Agreement are further described in the Auditors’ Responsibilities for the Audit of Compliance section of our report. We are required to be independent of the City and to meet our other 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 compliance 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 over compliance with the requirements of laws, statutes, regulations, rules, and provisions of contracts or grant agreements applicable to the Program.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 2 16 Auditors’ 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 or 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 GAAS, 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. 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 Agreement as a whole. In performing an audit in accordance with GAAS, 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, whether due to fraud or error, and design andperform audit procedures responsive to those risks. Such procedures include examining, on a test basis,evidence regarding the City’s compliance with the compliance requirements referred to above and performingsuch 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 designaudit procedures that are appropriate in the circumstances and to test and report on internal control overcompliance in accordance with the Agreement, but not for the purpose of expressing an opinion on theeffectiveness of the City’s internal 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 compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a compliance requirement on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a 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 compliance requirement 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 the limited purpose described in the Auditors’ 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 weakness or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did 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 may exist that were not identified.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 3 17 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. The purpose of this report on internal control over compliance is solely to describe the scope of our testing on 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. Santa Ana, California December 27, 2024

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City of Pleasanton
Alameda County Transportation
Commission
Measure BB Program
Pleasanton, California
Independent Auditors’ Reports
and Financial Statements
For the Year Ended June 30, 2024
ATTACHMENT 3

City of Pleasanton Alameda County Transportation Commission Measure BB Program For the Year Ended June 30, 2024 Table of Contents Page Independent Auditors’ Report on the Audit of the Financial Statements ............................................................... 1 Financial Statements: Governmental Funds: Balance Sheet .................................................................................................................................................... 7 Statement of Revenues, Expenditures, and Changes in Fund Balances ............................................................ 8 Proprietary Fund: Statement of Net Position .................................................................................................................................. 9 Statement of Revenues, Expenses, and Changes in Net Position .................................................................... 10 Statement of Cash Flows ................................................................................................................................. 11 Notes to the Financial Statements .......................................................................................................................... 13 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 ............................................................................................. 19 Independent Auditors’ Report on Compliance and Report on Internal Control Over Compliance .................................................................................................................... 21

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INDEPENDENT AUDITORS’ REPORT To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Report on the Audit of the Financial Statements Opinion We have audited the financial statements of the City of Pleasanton Alameda County Transportation Commission Measure BB Program (the “Program”) of the City of Pleasanton, California (the “City”) as of and for the year ended June 30, 2024, and the related notes to the financial statements, as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the Program of the City as of June 30, 2024, and the change in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (“GAAS”), and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (“Government Auditing Standards”). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matters Financial Statements Presentation As discussed in Note 1, the financial statements present only the Program and do not purport to, and do not, present fairly the financial position of the City as of June 30, 2024, the changes in its financial position, or where applicable, its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter. Change in Accounting Principle As discussed in Notes 2H and 7 to the financial statements, in 2024, the City adopted new accounting guidance, GASB Statement No. 100, Accounting Changes and Error Corrections – an Amendment of GASB Statement No. 62. Our opinion is not modified with respect to this matter.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 2 2 Responsibility of Management for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; 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. Auditors’ Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and Government Auditing Standards, we: exercise professional judgment and maintain professional skepticism throughout the audit; identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements; obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of 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; 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 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 Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by this missing information.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 3 3 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 27, 2024, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance. Santa Ana, California December 27, 2024

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FINANCIAL STATEMENTS
5

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Bicycle and Local StreetsASSETS Pedestrian and Roads TotalCash and investments 2,229,159$ 3,879,982$ 6,109,141$ Measure BB Direct Local Distribution Program receivable 86,049 310,406 396,455 Interest receivable 5,171 8,153 13,324 Total assets2,320,379 4,198,541 6,518,920 LIABILITIES AND FUND BALANCESLiabilities:Accounts payable 29,767 319,604 349,371 Total liabilities29,767 319,604 349,371 Fund Balances:Restricted for Measure BB Programs and Projects 2,290,612 3,878,937 6,169,549 Total fund balances2,290,612 3,878,937 6,169,549 Total liabilities and fund balances 2,320,379$ 4,198,541$ 6,518,920$ Special Revenue FundsGovernmental FundsCity of Pleasanton Balance SheetJune 30, 2024Measure BB ProgramAlameda County Transportation Commission See accompanying Notes to the Financial Statements. 7

FormerlySpecialBicycle and Local Streets Revenue FundPedestrian and Roads Paratransit TotalREVENUES:Measure BB Direct Local Distribution Program RevenueDirect Local Distribution Funds Allocation 509,945$ 1,839,523$ 2,349,468$ Subtotal program revenues509,945 1,839,523 2,349,468 Other Measure BB RevenuesInvestment Earnings:Interest and earnings on fair market value of investments 59,722 17,948 77,670 Subtotal other Measure BB revenues59,722 17,948 77,670 Total Revenue569,667 1,857,471 2,427,138 EXPENDITURES:Measure BB Direct Local Distribution Program ExpendituresCapital Outlay 185,823 414,376 600,199 Total expenditures185,823 414,376 600,199 NET CHANGE IN FUND BALANCES383,844 1,443,095 1,826,939 FUND BALANCES:Beginning of year, as previously presented as of June 30, 2023 1,906,768 2,435,842 634,713 4,977,323 Change within financial reporting entity(governmental to enterprise fund classification) - - (634,713) (634,713) Beginning of year, as restated (Note 7) 1,906,768 2,435,842 - 4,342,610 End of year 2,290,612$ 3,878,937$ -$ 6,169,549$ Special Revenue FundsCity of Pleasanton Governmental FundsFor The Year Ended June 30, 2024Measure BB ProgramAlameda County Transportation Commission Statement of Revenues, Expenditures, and Changes in Fund Balances See accompanying Notes to the Financial Statements. 8

EnterpriseFundASSETS ParatransitCash and investments 706,132$ Measure BB Direct Local Distribution Program receivable 99,009 Interest receivable 1,537 Total assets806,678 LIABILITIESLiabilities:Accounts payable 213,761 Total liabilities213,761 NET POSITIONRestricted for paratransit 592,917 Total net position 592,917$ City of Pleasanton Alameda County Transportation Commission Measure BB ProgramProprietary FundJune 30, 2024Statement of Net Position See accompanying Notes to the Financial Statements. 9

EnterpriseFundParatransitOPERATING EXPENSES:Measure BB Direct Local Distribution Program ExpendituresSalaries and benefits 17,716$ Materials, services and supplies 632,425 Total operating expenses650,141 OPERATING LOSS(650,141) NONOPERATING REVENUES:Measure BB Direct Local Distribution Program RevenueDirect Local Distribution Funds Allocation 586,743 Subtotal program revenues586,743 Other Measure BB RevenuesInvestment Earnings:Interest and earnings on fair market value of investments 21,602 Subtotal other Measure BB revenues21,602 Total nonoperating revenues608,345 Changes in net position(41,796) NET POSITION:Beginning of year, as previously presented as of June 30, 2023 - Change within financial reporting entity(governmental to enterprise fund classification) 634,713 Beginning of year, as restated (Note 7) 634,713 End of year 592,917$ City of Pleasanton Alameda County Transportation Commission Measure BB ProgramFor The Year Ended June 30, 2024Statement of Revenues, Expenses, and Changes in Net PositionProprietary Fund See accompanying Notes to the Financial Statements. 10

EnterpriseFundParatransitCASH FLOWS FROM OPERATING ACTIVITIES:Cash paid to suppliers for goods and services (499,856)$ Cash paid to employees for services (17,716) Net cash (used in) operating activities(517,572) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:Intergovernmental receipts 601,504 Net cash provided by noncapital financing activities 601,504 CASH FLOWS FROM INVESTING ACTIVITIES:Investment earnings 21,246 Net cash provided by investing activities 21,246 Net increase (decrease) in cash and cash equivalents105,178 CASH AND CASH EQUIVALENTS:Beginning of year, as previously presented as of June 30, 2023 -$ Change within financial reporting entity(governmental to enterprise fund classification) 600,954 Beginning of year, as restated (Note 7) 600,954 End of year 706,132$ OPERATING (LOSS) TO NET CASH(USED IN) OPERATING ACTIVITIES:Operating (loss) (650,141)$ Adjustments to reconcile operating (loss) to net cash(used in) operating activities:Increase (decrease) in accounts payable 132,569 Total adjustment 132,569 Net cash (used in) operating activities(517,572)$ City of Pleasanton Alameda County Transportation Commission Measure BB ProgramStatement of Cash FlowsProprietary FundFor The Year Ended June 30, 2024 See accompanying Notes to the Financial Statements. 11

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City of Pleasanton Alameda County Transportation Commission Measure BB Program Notes to the Financial Statements For the Year Ended June 30, 2024 13 Note 1 – Reporting Entity All transactions of the Alameda County Transportation Commission – Measure BB Program (the “Program”) of the City of Pleasanton (the “City”), are reported as separate special revenue and enterprise funds in the basic financial statements of the City. Measure BB Program is restricted to account for the City’s share of revenues earned and expenditures/expenses under the City’s paratransit, local streets and roads, and bicycle and pedestrian safety programs. The accompanying financial statements are for the Program only and are not intended to fairly present the financial position of the City or the results of its operations. Note 2 – Summary of Significant Accounting Policies A. Basis of Accounting The accompanying financial statements present only the Program and are not intended to present the financial position, changes in financial position, or cash flows of the City in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accounting policies of the Program are in accordance with U.S. GAAP applicable to governmental units. The Governmental Accounting Standards Board (“GASB”) is the accepted standard-setting body for establishing accounting and financial reporting principles. Governmental Fund Financial Statements The accompanying financial statements of special revenue funds are prepared based on the modified accrual basis of accounting. Measure BB program revenues are generally recorded when measurable and available (generally 90 days after year-end), and expenditures are recorded when the related liabilities are incurred. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a “current financial resources” measurement focus, wherein only current assets and current liabilities generally are included on the balance sheets. Operating statements of governmental funds present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Proprietary Fund Financial Statements Propretary fund financial statements include a Statement of Net Position, a Statement of Revenues, Expenses, and Changes in Net Position, and a Statement of Cash Flows.

City of Pleasanton Alameda County Transportation Commission Measure BB Program Notes to the Financial Statements (Continued) For the Year Ended June 30, 2024 14 Note 2 – Summary of Significant Accounting Policies (Continued) A. Basis of Accounting (Continued) Proprietary funds are accounted for using the "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all assets and liabilities (whether current or noncurrent) are included on the Statement of Net Position. The Statement of Revenues, Expenses, and Changes in Net Position present increases (revenues) and decreases (expenses) in total net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred. Proprietary fund operating revenues and expenses, such as charges for services, and payments to employees and vendors, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Nonoperating revenues and expenses, such as subsidies, investment earnings, changes in fair value of investments and interest charges result from nonexchange transactions or ancillary activities. B. Description of Funds The Program funds account for moneys received from voter-approved Measure BB which is to be used for transportation priorities that includes streets and roads improvements, bicycle/pedestrian enhancements, and transit related projects. 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. There are three funds reported under the Program: Governmental Funds: Bicycle and Pedestrian Special Revenue Fund accounts for various bicycle and pedestrian related improvement activities. Local Streets and Roads Special Revenue Fund accounts for the annual slurry and resurfacing capital improvement project activities. Proprietary Fund: Paratransit Enterprise Fund accounts for the City’s paratransit related activities. C. Cash and Investments The Program’s cash is pooled with the City’s internal investment pool. The share of each fund in the pooled cash account was separately maintained and interest income was apportioned to the participating funds based on the relationship of their average daily cash balances to the total of the pooled cash and investments at the end of each quarter. D. Cash Equivalents For purposes of the statement of cash flows, the City considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents.

City of Pleasanton Alameda County Transportation Commission Measure BB Program Notes to the Financial Statements (Continued) For the Year Ended June 30, 2024 15 Note 2 – Summary of Significant Accounting Policies (Continued) E. Receivables All receivables are shown net of an allowance for uncollectible amounts. F. 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 provisions 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 restricted and unrestricted fund balance is available, the City considers restricted funds to have been spent first. G. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. H. Implementation of New GASB The requirements of the following accounting standards are effective for the purpose of implementation, if applicable to the City, for the year ended June 30, 2024. The financial statements included herein apply the requirements and provisions of these statements, including necessary retroactive adjustments to financial statement classifications and presentations. GASB Statement No. 100 – In June 2022, GASB issued Statement No. 100, Accounting Changes and Error Corrections – an Amendment of GASB Statement No. 62. The primary objective of this Statement is to enhance accounting and financial reporting requirements for accounting changes and error corrections to provide more understandable, reliable, relevant, consistent, and comparable information for making decisions or assessing accountability. Implementation of this Statement had a moderate effect on the Program’s financial statements for the fiscal year ended June 30, 2024. Note 3 – Cash and Investments The Program's cash and investments are pooled with the City of Pleasanton in the amount of $6,815,273. Each Fund's share of the pooled cash account is separately accounted for, and investment income is allocated to all participating funds based on the relationship of their daily cash balances to the total of the pooled cash and investments at the end of each quarter. Information regarding the authorized types of deposits and investments, the type of risks (i.e. credit, interest rate, custodial, etc.) and other disclosures associated with the Program's pooled cash and investments is included in the City's basic financial statements, which are available at the City of Pleasanton at 123 Main Street, Pleasanton, California 94566 or on the City’s website at https://www.cityofpleasantonca.gov.

City of Pleasanton Alameda County Transportation Commission Measure BB Program Notes to the Financial Statements (Continued) For the Year Ended June 30, 2024 16 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 Transportation Commission after June 30, 2024 in the amount of $495,464. 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. 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 BB is projected to generate $8 billion in revenue from April 2015 to March 2045 for transportation improvements throughout Alameda County. Projects funded by Measure BB during Fiscal Year 2023/24 included: Bicycle and Pedestrian Program: Hopyard Road and Owens Drive Intersection Improvements 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 Paratransit Program: Provided funds to Black Tie Transportation for the program “Pleasanton Rides” which offers door-to-door services throughout the City Program Administration Final payment for the purchase of the electric shuttle vehicle for the Pleasanton Rides Program Provided funds to the Livermore Amador Valley Transit Authority (“LAVTA”) to provide Americans with Disabilities Act (“ADA”) services for City residents through the Wheels Dial-A-Ride program

City of Pleasanton Alameda County Transportation Commission Measure BB Program Notes to the Financial Statements (Continued) For the Year Ended June 30, 2024 17 Note 7 – Changes to or within the Financial Reporting Entity During scal year 2024, changes to or within the nancial reporting entity restatements of beginning net position and fund net position as well as cash and cash equivalents, are as follows: June 30, 2023 Change to or withinAs Previously the Financial Reporting June 30, 2023Reported Entity As RestatedGovernmental Funds:Special Revenue Funds:Bicycle and Pedestrian 1,906,768$ -$ 1,906,768$ Local Streets and Roads 2,435,842 - 2,435,842 Paratransit 634,713 (634,713) - Total governmental funds 4,977,323$ (634,713)$ 4,342,610$ Proprietary Funds:Paratransit Enterprise Fund -$ 634,713$ 634,713$ Total proprietary funds -$ 634,713$ 634,713$ June 30, 2023 Change to or withinAs Previously the Financial Reporting June 30, 2023Reported Entity As RestatedProprietary Funds:Paratransit Enterprise FundCash and cash equivalents -$ 600,954$ 600,954$

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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 Independent Auditors’ Report To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California We have audited, in accordance with the 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, the financial statements of the Alameda County Transportation Commission Measure BB Program (“the Program”) of the City of Pleasanton, California (“City”), as of and for the year ended June 30, 2024, and the related notes to the financial statements and have issued our report thereon dated December 27, 2024. Report on Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, 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 opinion 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. A deficiency in internal control exists when the design or operation of a control does not allow 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 City’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe 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 control 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.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 2 20 Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the financial statements of the Program are free of 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 these 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. 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 effectiveness of the entity’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 entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Santa Ana, California December 27, 2024

REPORT ON COMPLIANCE AND REPORT ON INTERNAL CONTROL OVER COMPLIANCE Independent Auditors’ Report To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Report on Compliance or Alameda County Transportation Commission Measure BB Program Required by Alameda County Transportation Commission Opinion On Alameda County Transportation Commission Measure BB Program We have audited the Alameda County Transportation Commission Measure BB Program (“the Program) of the City of Pleasanton, California’s (the “City”) compliance with the types of compliance requirements described in the agreement with the Alameda County Transportation Commission, dated July 1, 2016 (the “Agreement”) for the year ended June 30, 2024. In our opinion, the City complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on the City’s compliance with the Agreement for the year ended June 30, 2024. Basis for Opinion on Alameda County Transportation Commission Measure BB Program We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (“GAAS”); the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (“Government Auditing Standards”); and the audit requirements of the Agreement. Our responsibilities under those standards and the Agreement are further described in the Auditors’ Responsibilities for the Audit of Compliance section of our report. We are required to be independent of the City and to meet our other 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 compliance 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 over compliance with the requirements of laws, statutes, regulations, rules, and provisions of contracts or grant agreements applicable to the Program.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 2 22 Auditors’ 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 or 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 GAAS, 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. 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 Agreement as a whole. In performing an audit in accordance with GAAS, 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, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the City’s compliance with the compliance requirements 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 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. 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 compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a compliance requirement on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a 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 compliance requirement 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 the limited purpose described in the Auditors’ 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 weakness or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did 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 may exist that were not identified.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 3 23 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. The purpose of this report on internal control over compliance is solely to describe the scope of our testing on 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. Santa Ana, California December 27, 2024

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City of Pleasanton
Alameda County Transportation
Commission
Measure F Program
Pleasanton, California
Independent Auditors’ Reports
and Financial Statements
For the Year Ended June 30, 2024
ATTACHMENT 4

City of Pleasanton Alameda County Transportation Commission Measure F Program For the Year Ended June 30, 2024 Table of Contents Page Independent Auditors’ Report on the Audit of Financial Statements ...................................................................... 1 Financial Statements: Balance Sheet ............................................................................................................................................................ 7 Statement of Revenues, Expenditures, and Change in Fund Balance ....................................................................... 8 Notes to the Financial Statements ............................................................................................................................. 9 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 ............................................................................................. 13 Independent Auditors’ Report on Compliance and Report on Internal Control Over Compliance ..................................................................................................................... 15

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INDEPENDENT AUDITORS’ REPORT To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Report on the Audit of the Financial Statements Opinion We have audited the financial statements of the City of Pleasanton Alameda County Transportation Commission Measure F Program (the “Program”) of the City of Pleasanton, California (the “City”) as of and for the year ended June 30, 2024, and the related notes to the financial statements, as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the Program of the City, as of June 30 2024, and the change in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (“GAAS”), and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (“Government Auditing Standards”). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matters Financial Statements Presentation As discussed in Note 1, the financial statements present only the Program and do not purport to, and do not, present fairly the financial position of the City as of June 30, 2024, the changes in its financial position, or where applicable, its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter. Responsibility of Management for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; 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.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 2 2 Auditors’ Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and Government Auditing Standards, we: exercise professional judgment and maintain professional skepticism throughout the audit; identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements; obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of 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; 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 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 Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the financial statements in an appropriate operational, economic, or historical context. Our opinions on the basic financial statements are not affected by this missing information.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 3 3 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 27, 2024, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over the financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over the Program’s financial reporting and compliance. Santa Ana, California December 27, 2024

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FINANCIAL STATEMENTS
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VehicleRegistration FeesSpecial RevenueASSETS FundCash and investments 743,621$ Measure F Direct Local Distribution Program receivables 59,783 Interest receivables 1,596 Total assets805,000 FUND BALANCERestricted for Measure F Programs and Projects 805,000 Total fund balance 805,000$ Alameda County Transportation CommissionBalance SheetJune 30, 2024City of PleasantonMeasure F Program See accompanying Notes to the Financial Statements. 7

VehicleRegistration FeesSpecial RevenueREVENUES: FundDirect Local Distribution Funds AllocationInvestment earnings: 356,097$ Interest and earnings on fair market value of investments 2,388 Total revenues358,485 NET CHANGE IN FUND BALANCE358,485 FUND BALANCE:Beginning of year 446,515 End of year 805,000$ City of PleasantonStatement of Revenues, Expenditures, and Change in Fund BalanceFor the Year Ended June 30, 2024Alameda County Transportation CommissionMeasure F Program See accompanying Notes to the Financial Statements. 8

City of Pleasanton Alameda County Transportation Commission Measure F Program Notes to the Financial Statements For the Year Ended June 30, 2024 9 Note 1 – The Reporting Entity All transactions of the Alameda County Transportation Commission – Measure F Program (the “Program”) of the City of Pleasanton, California (the “City”), are reported in a separate special revenue fund in the basic financial statements of the City. Measure F Program is restricted to repair and maintain local streets and roads; improve traffic flow and bicyclist, pedestrian and driver safety; improve public transportation; and encourage green transportation options. The accompanying financial statements are for the Program only and are not intended to fairly present the financial position of the City or the results of its operations. Note 2 – Summary of Significant Accounting Policies A. Basis of Accounting The accompanying financial statements present only the Program and are not intended to present the financial position, and changes in financial position of the City in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accounting policies of the Program are in accordance with U.S. GAAP applicable to governmental units. The Governmental Accounting Standards Board (“GASB”) is the accepted standard-setting body for establishing accounting and financial reporting principles. The accompanying financial statements of special revenue funds are prepared based on the modified accrual basis of accounting. Measure F program revenues are generally recorded when measurable and available (generally 90 days after year-end), and expenditures are recorded when the related liabilities are incurred. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a “current financial resources” measurement focus, wherein only current assets and current liabilities generally are included on the balance sheets. Operating statements of governmental 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 which are used to account for the proceeds of specific revenue sources that are restricted or committed to expenditure for specified purposes other than debt service or capital projects. 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. The Program funds account for moneys received from voter-approved Measure F which is to be used for transportation priorities that includes the City’s Local Streets and Road Program’s Annual Street Resurfacing and Reconstruction Capital Improvement Project.

City of Pleasanton Alameda County Transportation Commission Measure F Program Notes to the Financial Statements (Continued) For the Year Ended June 30, 2024 10 Note 2 – Summary of Significant Accounting Policies (Continued) C. Cash and Investments The Program’s cash is pooled with the City’s internal investment pool. The share of each fund in the pooled cash account was separately maintained and interest income was apportioned to the participating funds based on the relationship of their average daily cash balances to the total of the pooled cash and investments at the end of each quarter. D. Receivables All receivables are shown net of an allowance for uncollectible amounts. E. 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 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 restricted and unrestricted fund balance is available, the City considers restricted funds to have been spent first. F. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Note 3 – Cash and Investments The Program's cash and investments are pooled with the City of Pleasanton in the amount of $743,621. Each Fund's share of the pooled cash account is separately accounted for, and investment income is allocated to all participating funds based on the relationship of their daily cash balances to the total of the pooled cash and investments at the end of each quarter. Information regarding the authorized types of deposits and investments, the type of risks (i.e. credit, interest rate, custodial, etc.) and other disclosures associated with the Program's pooled cash and investments is included in the City's basic financial statements, which are available at the City of Pleasanton at 123 Main Street, Pleasanton, California 94566 or on the City’s website at https://www.cityofpleasantonca.gov. Note 4 – Measure F Direct Local Distribution Program Receivables The Measure F Direct Local Distribution Program receivable represents vehicle registration fee revenues from Measure F for the fiscal year, received from the Alameda County Transportation Commission after June 30, 2024. The Program recorded a receivable of $59,783 related to these revenues as of June 30, 2024.

City of Pleasanton Alameda County Transportation Commission Measure F Program Notes to the Financial Statements (Continued) For the Year Ended June 30, 2024 11 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. 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, weighted 50 percent by population of the planning area and 50 percent of registered vehicles of the planning area. Measure F funds are currently budgeted for the City’s Local Streets and Road Program’s Annual Street Resurfacing and Reconstruction Capital Improvement Project. There were no Measure F expenditures for this project during the fiscal year and the project was still in progress at fiscal year-end. The City will utilize Measure F funding in Fiscal Year 2024/25 to complete the project.

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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 Independent Auditors’ Report To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California We have audited, in accordance with the 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, the financial statements of the Alameda County Transportation Commission Measure F Program (“the Program”) of the City of Pleasanton, California (“City”), as of and for the year ended June 30, 2024, and the related notes to the financial statements, and have issued our report thereon dated December 27, 2024. Report on Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, 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 opinion 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. A deficiency in internal control exists when the design or operation of a control does not allow 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 City’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe 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 control 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.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 2 14 Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the financial statements of the Program are free of 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 these 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. 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 effectiveness of the entity’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 entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Santa Ana, California December 27, 2024

REPORT ON COMPLIANCE AND REPORT ON INTERNAL CONTROL OVER COMPLIANCE Independent Auditors’ Report To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Report on Compliance for Alameda County Transportation Commission Measure F Program Required by Alameda County Transportation Commission Opinion on Alameda County Transportation Commission Measure F Program We have audited the Alameda County Transportation Commission Measure F Program (the “Program”) of the City of Pleasanton, California’s (the “City”) compliance with the types of compliance requirements described in the agreement with the Alameda County Transportation Commission, dated July 1, 2016 (the “Agreement”) for the year ended June 30, 2024. In our opinion, the City complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on the City’s compliance with the Agreement for the year ended June 30, 2024. Basis for Opinion on Alameda County Transportation Commission Measure F Program We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (“GAAS”); the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (“Government Auditing Standards”); and the audit requirements of the Agreement. Our responsibilities under those standards and the Agreement are further described in the Auditors’ Responsibilities for the Audit of Compliance section of our report. We are required to be independent of the City and to meet our other 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 compliance 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 over compliance with the requirements of laws, statutes, regulations, rules, and provisions of contracts or grant agreements applicable to the Program.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 2 16 Auditors’ 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 or 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 GAAS, 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. 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 Agreement as a whole. In performing an audit in accordance with GAAS, 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, whether due to fraud or error, and design andperform audit procedures responsive to those risks. Such procedures include examining, on a test basis,evidence regarding the City’s compliance with the compliance requirements referred to above and performingsuch 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 designaudit procedures that are appropriate in the circumstances and to test and report on internal control overcompliance in accordance with the Agreement, but not for the purpose of expressing an opinion on theeffectiveness of the City’s internal 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 compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a compliance requirement on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a 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 compliance requirement 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 the limited purpose described in the Auditors’ 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 weakness or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did 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 may exist that were not identified.

To the Honorable Mayor and the Members of the City Council of the City of Pleasanton Pleasanton, California Page 3 17 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. The purpose of this report on internal control over compliance is solely to describe the scope of our testing on 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. Santa Ana, California December 27, 2024

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City of Pleasanton
Pleasanton, California
Single Audit and
Independent Auditors’ Reports
For the Year Ended June 30, 2024
ATTACHMENT 5

City of Pleasanton Single Audit and Independent Auditors’ Reports For the Year Ended June 30, 2024 Table of Contents Page Independent Auditors’ Reports: 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 ...................................................................... 1 Report on Compliance for Each Major Federal Program; Report on Internal Control Over Compliance; and Report on the Schedule of Expenditures of Federal Awards Required by the Uniform Guidance ....................................................... 3 Schedule of Expenditures of Federal Awards ............................................................................................................... 7 Notes to the Schedule of Expenditures of Federal Awards ........................................................................................... 8 Schedule of Findings and Questioned Costs ................................................................................................................. 9

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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 Independent Auditors’ Report To the Honorable Mayor and the Members of City Council of the City of Pleasanton Pleasanton, California We have audited, in accordance with the 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 (“Government Auditing Standards”), the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Pleasanton, California (the “City”), as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements, and have issued our report thereon dated February 3, 2025. Report on Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, 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. A deficiency in internal control exists when the design or operation of a control does not allow 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 basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe 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 control that might be material weaknesses or significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. We identified certain deficiencies in internal control, described in the accompanying Schedule of Findings and Questioned Costs as items 2024-001 that we consider to be significant deficiencies.

To the Honorable Mayor and the Members of City Council of the City of Pleasanton Pleasanton, California Page 2 2 Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the City’s financial statements are free of 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. City’s Response to Findings Government Auditing Standards requires the auditor to perform limited procedures on the City’s response to the findings identified in our audit and described in the accompanying Schedule of Findings and Questioned Costs. The City’s response was not subjected to the other auditing procedures applied in the audit of the financial statements and, accordingly, we express no opinion on the response. 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 effectiveness of the entity’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 entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Santa Ana, California February 3, 2025

REPORT ON COMPLIANCE FOR EACH MAJOR FEDERAL PROGRAM; REPORT ON INTERNAL CONTROL OVER COMPLIANCE; AND REPORT ON THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS REQUIRED BY THE UNIFORM GUIDANCE Independent Auditors’ Report To the Honorable Mayor and the Members of City Council of the City of Pleasanton Pleasanton, California Report on Compliance for Each Major Federal Program Opinion on Each Major Federal Program We have audited the City of Pleasanton, California’s (the “City”) compliance with the types of compliance requirements identified as subject to audit in the OMB Compliance Supplement that could have a direct and material effect on each of the City’s major federal programs for the year ended June 30, 2024. The City’s major federal programs are identified in the summary of the auditors' results section of the accompanying Schedule of Findings and Questioned Costs. In our opinion, the City complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2024. Basis for Opinion on Each Major Federal Program We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (“GAAS”); the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (“Government Auditing Standards”), and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Our responsibilities under those standards and the Uniform Guidance are further described in the Auditors’ Responsibilities for the Audit of Compliance section of our report. We are required to be independent of the City and to meet our other 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 compliance for each major federal program. Our audit does not provide a legal determination of 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 over compliance with the requirements of laws, statutes, regulations, rules, and provisions of contracts or grant agreements applicable to City’s federal programs.

To the Honorable Mayor and the Members of City Council of the City of Pleasanton Pleasanton, California Page 2 4 Auditors’ 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 or 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 GAAS, Government Auditing Standards, and the Uniform Guidance 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. 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 each major federal program as a whole. In performing an audit in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance, 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 those risks. Such procedures include examining, on a test basis, evidence regarding the City’s compliance with the compliance requirements 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 compliance in accordance with the Uniform Guidance, 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. 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 compliance 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 a federal program 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 a federal program 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 a federal program 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 the limited purpose described in the Auditors’ 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 did 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.

To the Honorable Mayor and the Members of City Council of the City of Pleasanton Pleasanton, California Page 3 5 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. 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 Uniform Guidance. Accordingly, this report is not suitable for any other purpose. Report on the Schedule of Expenditures of Federal Awards Required by the Uniform Guidance We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements. We issued our report thereon dated February 3, 2025, which contained unmodified opinions on those financial statements. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the basic financial statements. The accompanying Schedule of Expenditures of Federal Awards is presented for purposes of additional analysis as required by Uniform Guidance and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the Schedule of Expenditure of Federal Awards is fairly stated in all material respects in relation to the basic financial statements as a whole. Santa Ana, California February 3, 2025

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City of Pleasanton Schedule of Expenditures of Federal Awards For the Year Ended June 30, 2024 See accompanying Notes to the Schedule of Expenditures of Federal Awards. 7 AssistanceFederal Grantor/Pass-Through Grantor Listing Grant FederalProgram Title NumberIdentification NumberExpendituresU.S. Department of Housing and Urban DevelopmentDirect Programs:CDBG – Entitlement/Special Purpose Grants Cluster :Community Development Block Grants / Entitlement Grants 14.218 B-23-MC-06-0050 $ 225,446 Total CDBG – Entitlement/Special Purpose Grants Cluster 225,446 Pass-through the County of Alameda:HOME Investment Partnerships Program14.239 M23-DC-060001 372,373 Total HOME Investment Partnerships Program 372,373 Total U.S. Department of Housing and Urban Development597,819 U.S. Department of TransportationPass-through the California Department of Transportation: Highway Planning and Construction Program (Federal-Aid Highway Program) 20.205 BPMP-5101(029) 18,162 Total Highway Planning and Construction Program (Federal-Aid Highway Program) 18,162 Pass-through the State of California, Office of Traffic Safety:Highway Safety Cluster: Pass-through the State and Community Highway Safety: 20.600PT2414916,657 Total Highway Safety Cluster 16,657 Minimum Penalties for Repeat Offenders for Driving While Intoxicated 20.608PT2414921,308 Total Minimum Penalties for Repeat Offenders for Driving While Intoxicated 21,308 Total U.S. Department of Transportation56,127 U.S. Department of the TreasuryPass-through the State Water Resources Control Board:COVID-19 - Coronavirus State and Local Fiscal Recovery Funds - Water Arrearage 21.027 20-1892-0-1-806 120,428 COVID-19 - Coronavirus State and Local Fiscal Recovery Funds - Wastewater Arrearage 21.027 20-1892-0-1-806 83,392 Total Coronavirus State and Local Fiscal Recovery Funds 203,820 Total U.S. Department of the Treasury 203,820 U.S. Department of Health and Human ServicesPass-through HORNE LLP:COVID-19 - Low Income Household Water Assistance Program93.499 07-5202-1-1-536 28,396 Total U.S. Department of Health and Human Services28,396 U.S. Department of Homeland SecurityPass-through the California Governor's Office of Emergency Services:Disaster Grants - Public Assistance (Presidentially Declared Disasters) 97.036 FEMA-4683-DR-CA 41,341 Total Disaster Grants - Public Assistance (Presidentially Declared Disasters) 41,341 Total U.S. Department of Homeland Security 41,341 Total Expenditures of Federal Awards927,503$

City of Pleasanton Notes to the Schedule of Expenditures of Federal Awards For the Year Ended June 30, 2024 8 Note 1 – Reporting Entity The financial reporting entity, as defined by the Governmental Accounting Standards Board (“GASB”) Codification, consists of the primary government, which is the City of Pleasanton, California (the “City”), organizations for which the primary government is financially accountable, and other organizations for which the nature and significance of their relationship with the primary government are such that exclusion would cause the City’s financial statements to be misleading or incomplete. The City Council acts as the governing body and is able to impose its will on the following organizations, establishing financial accountability: The Pleasanton Joint Powers Financing Authority The Pleasanton Public Housing Authority Note 2 – Summary of Significant Accounting Policies Basis of Accounting Funds received under the various grant programs have been recorded within special revenue funds and enterprise funds of the City. The City utilizes the modified accrual basis of accounting for special revenue funds and the accrual basis of accounting for the enterprise funds. The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (“CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the “Uniform Guidance”). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of City’s basic financial statements. Schedule of Expenditures of Federal Awards The accompanying Schedule presents the activity of all federal financial assistance programs of the City. Federal financial assistance received directly from federal agencies, as well as federal financial assistance passed through the State of California Department of Transportation, the State of California Office of Traffic Safety, the State Water Resources Control Board, the California Governor’s Office of Emergency Services, the County of Alameda, and HORNE LLP, are included in the Schedule. The Schedule was prepared from only the accounts of various grant programs and, therefore, does not present the financial position or results of operations of the City. Indirect Cost Rate The City did not elect to use the 10% de minimis cost rate.

City of PleasantonSchedule of Findings and Questioned Costs For the Year Ended June 30, 2024 9 Section I – Summary of Auditors’ Results Financial Statements Types of report the auditors issued on whether the financial statements audited were prepared in accordance with GAAP: Unmodified Internal control over financial reporting: Material weakness(es) identified? No Significant deficiency(ies) identified? 2024-001 Noncompliance material to financial statements noted? No Federal Awards Internal control over major federal programs: Material weakness(es) identified? No Significant deficiency(ies) identified? None Reported Type of auditors’ report issued on compliance for major federal programs: Unmodified Any audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516(a)? No Identification of major federal programs: Assistance Listing Federal Numbers Major Program or ClusterExpenditures14.239 Home Investment Partnerships Program 372,373$ Total Expenditures of All Major Federal Programs372,373$ Total Expenditures of Federal Awards927,503$ Percent of Total Expenditures of Federal Awards 40.15% Dollar threshold used to distinguish between type A and type B programs: $750,000 Auditee qualified as a low-risk auditee in accordance with 2 CFR 200.520? Yes

City of PleasantonSchedule of Findings and Questioned Costs (Continued) For the Year Ended June 30, 2024 10 Section II – Financial Statement Findings A. Current Year Findings – Financial Statement 2024-001 – Internal Control Over Financial Reporting – Prior Year Adjustments Criteria: Management is responsible for the preparation and fair presentation as well as the accuracy of its financial statements including disclosures in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. As part of satisfying that responsibility, management should ensure complete year-end closing and diligently produce reliable and accurate financial information. In essence, accounting policies and procedures would aid the City in providing training for accounting personnel, communicating and providing a source of reference to approved policies, and maintaining consistency of recording financial transactions. Condition: During our audit, we noted below prior period adjustments related to the error corrections.

ErrorCorrectionsGovernment-WideGovernmental Activities (20,297,428)$ Business-Type Activities (242,715) Total primary government (20,540,143)$ Governmental Funds:Major Funds:Lower Income Housing Fund 3,012,389$ Nonmajor Funds 3,078,620 Total Governmental Funds 6,091,009$ Proprietary Funds:Major Funds:Water Enterprise Fund 1,674$ Sewer Enterprise Fund 34,047 Nonmajor Funds (278,436) Internal Service Funds (141,108) Total Proprietary Funds (383,823)$ Fiduciary Funds:Custodial Funds 9,529,000$

City of PleasantonSchedule of Findings and Questioned Costs (Continued) For the Year Ended June 30, 2024 11 Section II – Financial Statement Findings (Continued) A. Current Year Findings – Financial Statement (Continued) 2024-001 – Internal Control Over Financial Reporting – Prior Year Adjustments (Continued) Condition (Continued): The City previously reported unavailable revenue in certain governmental funds to defer long-term loans receivable rather than reporting the balance as restricted fund balance while the proceeds from the collection of these receivables is restricted in accordance with Governmental Accounting Standard Board Statement(“GASBS”) No. 54 – Fund Balance Reporting and Governmental Fund Type Definitions. In addition, the City did not report the financed-purchase assets and the associated liabilities in accordance with GASBS No. 87 – Leases. Lastly, the City had reported the claims payable for its custodial funds instead of only reporting a liability when a demand for the resources has been made or when no further action, approval, or condition is required to be taken or met by the beneficiary to release the assets in accordance with GASBS No. 84 – Fiduciary Activities. Cause: Monitoring controls are ineffective to ensure the City implemented new GASB pronouncements. Effect or Potential Effect: Prior period adjustments resulting from error corrections are reported to ensure that the financial statements are properly presented in accordance with GASB Statements. Recommendation: We recommend the City conduct more thorough review of new GASB Statements and related GASB implementation guide to prevent differences in interpretation that resulted in improper financial reporting. Views of Responsible Officials: Necessary adjustments were recorded in fiscal year 2023/24 to reclassify certain transactions or restate fund balance/net position to align with GASB pronouncements. We appreciate The Pun Group’s interpretation of GASB 54, reflecting a different view from the City’s prior audit firms. Due to the contingent nature of some of the loan repayments such as long-term loans with nonprofit organizations, it is appropriate to write off those loans while reclassifying certain loans from unavailable revenue/liability to restricted fund balance when repayments are expected. Collectively, these adjustments have no net impact on the resources that are available in the City’s various loan programs, as these restricted fund balances are not spendable resources until the City receives the repayments from the borrowers. With the recent implementation of GASB 87, the City continues to review and evaluate leases on a regular basis and identify items such as leased vehicles that are considered to be leases. Adjustments have been recorded toproperly reflect the assets and liabilities.

City of PleasantonSchedule of Findings and Questioned Costs (Continued) For the Year Ended June 30, 2024 12 Section II – Financial Statement Findings (Continued) A. Current Year Findings – Financial Statement (Continued) 2024-001 – Internal Control Over Financial Reporting – Prior Year Adjustments (Continued) Views of Responsible Officials (Continued): For presentation purposes, since the LPFD financial statements report the claims payable, we concur that reporting of the liability in the City’s custodian funds is not necessary. This change has no impact on the City’s financial position. B. Prior Year Findings – Financial Statement No prior year findings were reported.

City of Pleasanton Schedule of Findings and Questioned Costs (Continued) For the Year Ended June 30, 2024 13 Section III – Federal Award Findings and Questioned Costs A. Current Year Findings and Questioned Costs – Major Federal Award Program Audit No current year findings were reported. B. Prior Year Findings and Questioned Costs – Major Federal Award Program Audit No prior year findings were reported.

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ATTACHMENT 6

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ATTACHMENT 8

2/12/2025
1 FY 2023/24 Annual Comprehensive Financial Report (ACFR)City Council MeetingFebruary 18, 2025 Agenda
ACFR Contents
Financial Highlights and Unfunded Liabilities
Q&A2
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2/12/2025
2 Review by Audit Committee•The Audit Committee (Mayor Balch and Councilmember Eicher) will review the ACFR and compliance reports on February 11, 2025•Comments and recommendations from the Audit Committee will be reported to the Council at the February 18, 2025, meeting3 What’s in the ACFR?•Transmittal Letter•GFOA Certificate of Achievement Award for Excellence in Financial Reporting •Independent Auditors’ Report (Opinion)Unmodified/clean audit opinion•Management's Discussion and Analysis•Government-Wide and Fund Financial Statements•Notes to the Financial Statements•Supplementary Information•Statistical Tables 4 3
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2/12/2025
3 Management's Discussion and Analysis•Financial Highlights•Overview of the Financial Statements•Government-Wide Financial AnalysisAccrual basis•Fund Financial AnalysisModified accrual basis•General Fund Budgetary Highlights5 Audit Findings and Recommendations•Audit findings and recommendations were related to the implementation of GASB statements relevant to fund balance reporting (GASB 54), leases (GASB 87), and fiduciary activities (GASB 84)•A different view from the City’s prior audit firms in presenting long-term loan receivables •Reporting assets and liabilities for leased vehicles due to the recent implementation of GASB pronouncement•LPFD claims payable in custodian funds not required to be reported as a liability in the ACFR•All necessary adjustments have been reclassified/restated in FY 2023/24 to align with GASB pronouncements•These changes have no impact on the City’s spendable resources6 5 6

2/12/2025
4 Financial Highlights
Government-Wide Financial Statements Assets and Deferred Outflow of Resources (In Millions)•Assets and deferred outflow of resources total $1.1B, increased by $26M from prior fiscal year8 Cash, investments, and receivables represent 33% of total assets7 8

2/12/2025
5 Government-Wide Financial Statements Liabilities and Deferred Inflow of Resources (In Millions)•Liabilities and deferred inflow of resources total $337M, increased by $35M from prior fiscal year9 Government-Wide Financial Statements Net Position (In Millions)•$780M in net position, increased by $12M from prior fiscal year10656.7 97.8 13.1 644.4 133.3 2.1 - 100.0 200.0 300.0 400.0 500.0 600.0 700.0Net Investment in Capital Assets Restricted UnrestrictedFY 2022/23FY 2023/24 9 10

2/12/2025
6 General Fund – Fund Balance (In Millions)•Achieved 20% reserve target calculated based on unassigned fund balance11 Enterprise Funds – Net Position (In Millions)•$199M in total net position, decreased by $3M from prior fiscal year$144M reflects net investment in capital assets that is not available for spending12 11 12

2/12/2025
7 Pension and OPEB Liabilities
Pension and OPEB Liabilities•$198M in net pension and retiree medical liability•Pension liability is net of funds in the PARS Pension Trust ($51M)14$164.4 $20.8 $185.2 $174.3 $23.2 $197.6 $- $50.0 $100.0 $150.0 $200.0 $250.0Net Pension Liability Net OPEB Liability Total Pension and OPEBLiabilityFY 2022/23FY 2023/24 13 14

2/12/2025
8 Review of Investment Returns•Section 115 Pension Trust: to generate investment earnings and accumulate resources to pay down pension obligation•PARS returns represent inception-to-date returns; City and CalPERS returns represent five-year average returns15 Next StepsFebruary-June 20252025-27 Budget DevelopmentOngoingBudget Monitoring16 15 16

2/12/2025
9 Thank You!
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