Attachment No. 1 - Annual Comprehensive Financial Report for the year ended June 30, 2025 — City Council / Housing Authority, June 15, 2026

City of Pomona
Pomona, California
Annual
Comprehensive
Financial Report
For the Fiscal Year ended
June 30, 2025
Prepared by:

Finance Department
Attachment 1

City of
Pomona
Pomona, California

Annual Comprehensive Financial Report

For the fiscal year ended June 30, 2025

Prepared by:

Finance Department

This page intentionally left blank.

City of Pomona
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Table of Contents
Page

INTRODUCTORY SECTION
T
able of Contents ............................................................................................................................................................ i Letter of Transmittal ...................................................................................................................................................... v GFOA Certificate of Achievement of Excellence in Financial Reporting ............................................................. xi Organizational Chart ...................................................................................................................................................xii Directory of City Officials ......................................................................................................................................... xiii Executive Management Team .................................................................................................................................. xiv

FINANCIAL SECTION
In
dependent Auditors’ Report ................................................................................................................................... 1 Management’s Discussion and Analysis
(Required Supplementary Information (Unaudited) ............................................................................................ 5 Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position ..................................................................................................................................... 21 Statement of Activities .......................................................................................................................................... 22 Fund Financial Statements:

Governmental Fund Financial Statements:

Balance Sheet ...................................................................................................................................................... 28 Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position ................................................................................. 31 Statement of Revenues, Expenditures and
Changes in Fund Balances ............................................................................................................................. 32 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and changes in Fund Balances to the Government-Wide Statement of Activities ................................................................................................................................... 34 Proprietary Fund Financial Statements:

Statement of Net Position ................................................................................................................................ 36 Statement of Revenues, Expenses and Changes in Net Position................................................................. 38 Statement of Cash Flows ................................................................................................................................... 40 Fiduciary Fund Financial Statements:

Statement of Fiduciary Net Position ............................................................................................................... 43 Statement of Changes in Fiduciary Net Position ........................................................................................... 44 Notes to the Basic Financial Statements ................................................................................................................... 47 i
City of Pomona
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Table of Contents
Page
FINA
NCIAL SECTION (Continued)
Req
uired Supplementary Information:

Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual:

General Fund .................................................................................................................................................... 133 Housing Authority Special Revenue Fund .................................................................................................. 134 Notes to the Budgetary Comparison Schedules ............................................................................................. 135 Schedule of Changes in the Net Pension Liability and Related Ratios:

Miscellaneous Plan – Agent Multiple Employer ......................................................................................... 136 Safety Plan – Agent Multiple Employer ....................................................................................................... 138 Collateral Benefits Plan ................................................................................................................................... 140 Schedule of Plan Contributions – Pension:

Miscellaneous Plan – Agent Multiple Employer ......................................................................................... 142 Safety Plan – Agent Multiple Employer ....................................................................................................... 144 Collateral Benefits Plan ................................................................................................................................... 146 Schedule of Changes in the Total OPEB Liability and Related Ratios:

Other Post-Employment Benefits Plan ......................................................................................................... 148 Supplementary Information:

Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual:

General Government Debt Service Fund ...................................................................................................... 153 Public Financing Authority Debt Service Fund ........................................................................................... 154 Capital Outlay Capital Projects Fund ........................................................................................................... 155 Nonmajor Governmental Funds:

Combining Balance Sheet ................................................................................................................................... 160 Combining Statement of Revenues, Expenditures and Changes in Fund Balance .................................... 166 ii
City of Pomona
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Table of Contents
Page
FINA
NCIAL SECTION (Continued)
S
upplementary Information, Continued
Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual:

Miscellaneous Grants Fund ............................................................................................................................ 171 American Rescue Plan ..................................................................................................................................... 172 Community Development Block Grant ........................................................................................................ 173 State Gas Tax ..................................................................................................................................................... 174 Proposition A .................................................................................................................................................... 175 Proposition C .................................................................................................................................................... 176 Vehicle Parking District .................................................................................................................................. 177 Air Quality Improvement ............................................................................................................................... 178 Landscape Maintenance District .................................................................................................................... 179 Asset Forfeiture ................................................................................................................................................ 180 Traffic Offender ................................................................................................................................................ 181 Measure R .......................................................................................................................................................... 182 Measure M ........................................................................................................................................................ 183 Special Fees ....................................................................................................................................................... 184 PEG Fee .............................................................................................................................................................. 185 Fairplex Mitigation .......................................................................................................................................... 186 Measure W ........................................................................................................................................................ 187 Cannabis Community Benefit ........................................................................................................................ 188 Refuse Administration .................................................................................................................................... 189 Pomona Fund for Children and Youth ......................................................................................................... 190 Nonmajor Enterprise Funds:

Combining Statement of Net Position........................................................................................................... 191 Combining Statement of Revenues, Expenses and Changes in Net Position .......................................... 192 Combining Statement of Cash Flows ............................................................................................................ 193 Internal Service Funds:

Combining Statement of Net Position........................................................................................................... 198 Combining Statement of Revenues, Expenses and Changes in Net Position .......................................... 200 Combining Statement of Cash Flows ............................................................................................................ 202 Custodial Funds:

Continuing Statement of Net Position .......................................................................................................... 207 Combining Statement of Revenues, Expenses and Changes in Net Position .......................................... 208 iii
City of Pomona
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Table of Contents
Page
S
TATISTICAL SECTION (Unaudited)
D
escription of Statistical Section Content .............................................................................................................. 209 Financial Trends:

Net Position by Component .................................................................................................................................. 211 Changes in Net Position ........................................................................................................................................ 212 Fund Balances - Governmental Funds................................................................................................................. 214 Changes in Fund Balance - Governmental Funds ............................................................................................. 215 Governmental Activities Tax Revenue by Source .............................................................................................. 216 Revenue Capacity:

Assessed Value and Estimated Actual Value of Taxable Property ................................................................. 217 Property Tax Rates – Direct and Overlapping Governments .......................................................................... 218 Principal Property Taxpayers ............................................................................................................................... 219 Top 25 Sales Tax Generators ................................................................................................................................. 220 Property Tax Levies and Collections ................................................................................................................... 221 Debt Capacity
Ratios of Outstanding Debt by Type ................................................................................................................... 222 Ratio of General Bonded Debt Outstanding ....................................................................................................... 223 Direct and Overlapping Debt ............................................................................................................................... 224 Legal Debt Margin Information ............................................................................................................................ 225 Pledged Revenue Coverage - Water .................................................................................................................... 226 Pledged Revenue Coverage - Sewer .................................................................................................................... 227 Demographic and Economic Information:

Demographic and Economic Statistics ................................................................................................................ 228 Principal Employers ............................................................................................................................................... 229 Operating Information:

Authorized Full – Time City Employees by Function ....................................................................................... 230 Operating Indicators by Function ........................................................................................................................ 231 Capital Asset Statistics by Function ..................................................................................................................... 232 iv

7 June 2, 2026
Honorable Mayor and City Council
and Residents of the City of Pomona, Pomona, California The audited Annual Comprehensive Financial Report (ACFR) of the City of Pomona, California (City) for the fiscal year ended June 30, 2025 is hereby submitted.

An independent certified public accounting firm audits the basic financial statements. The purpose of the audit is to ensure that the basic financial statements present fairly, in all material respects, the financial position and the results of operations of the City. Responsibility for both the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures, rests with the City. Badawi & Associates has issued an unmodified opinion of the City of Pomona’s financial statements for the fiscal year ended June 30, 2025. The financial statements have been prepared in accordance with generally accepted accounting principles in the United States. This means that the statements have been prepared using guidelines designed to fairly set forth the financial position and results of operations of the City as measured by the financial activity of its various funds. The independent auditor’s report is located on page 1 of the Financial Section. All disclosures necessary to enable the reader to gain the maximum understanding of the City’s financial activities have been included.

Generally Accepted Accounting Principles require that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The City’s MD&A can be found immediately following the report of the independent auditors.

In addition to the comprehensive audit, the City is required to undergo an annual single audit in conformity with the provisions of the Single Audit Act of 1996 as amended and Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the “Uniform Guidance”). Information related to this single audit, including a schedule of federal financial assistance, findings and recommendations and an auditor’s report on the internal control structure and compliance with applicable laws and regulations, is provided in a separate single audit report.

REPORTING ENTITY
The primary unit of the government is the City, and includes component units all of which are described below:

The Primary Government
The City was founded on January 6, 1888 and became a charter city in 1911. The City operates under a Council-Manager form of municipal government.

This report includes all the funds of the City of Pomona, California, and each of its component units.

Component units are legally separate entities for which the primary government is financially accountable.

The City provides full services to its residents including public safety, land use planning and zoning, housing and economic development, building and safety regulation and inspection, water, sewer and refuse services, maintenance of parks, streets and related infrastructure, recreational activities and library services. The accompanying Annual Comprehensive Financial Report includes the activities of the City, the primary government, and its component units, which are the Pomona Public Financing Authority, and the

ANDREW MOWBRAY
Finance Director/City Treasurer

THE CITY OF
POMONA
Finance Department
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Cit
y of Pomona Housing Authority. Financial information for the City and these component units are accounted for in the accompanying financial statements in accordance with principles defining the reporting entity adopted by the Governmental Accounting Standards Board. The City Council serves as the governing board of the Housing Authority. The City Manager, City Attorney, Finance Director/City Treasurer, Accounting Supervisor, City Clerk, and the Economic Development Director serve as the governing board for the Pomona Public Financing Authority.

The former Redevelopment Agency, now Successor Agency , is a separate legal entity, which was formed to hold the assets of the former Redevelopment Agency pursuant to City Council action taken on January 9, 2012 with members of the City Council, sitting as the Successor Agency to the Redevelopment Agency. The activity of the Successor Agency is overseen by an Oversight Board which is comprised of individuals appointed by various government agencies including the City of Pomona.

The Pomona Public Financing Authority (the Authority) is a joint exercise of powers agreement organized under Section 6500 of the California Government Code on October 27, 1988 between the City, the Redevelopment Agency, and the Redevelopment Agency of the City of West Covina. The purpose of the Authority is to act as a vehicle for various financing activities of the City and the Agency. The funds of the Authority have been included in the governmental activities in the financial statements. Separate audited statements are also issued for the Authority.

The Housing Authority of the City of Pomona (the Housing Authority) was organized pursuant to the State of California Health and Safety Code, Section 34242. The Housing Authority exists pursuant to adopted resolution No. 93-114 adopted June 7, 1993. Its purpose is to prepare and carry out plans to ensure sanitary and safe housing exists in the City of Pomona and that such housing is available to persons of low income at affordable rental rates. The City provides management assistance to the Housing Authority, and the members of the City Council also act as the governing body of the Housing Authority.

The Housing Authority’s financial data and transactions are blended with the major governmental funds.

Separate audited statements are also issued for the Housing Authority.

THE CITY OF POMONA
The City is located at the southeast end of Los Angeles County and borders San Bernardino County’s western boundary and is just five miles north of Orange County. The City has a population of 154,762 and covers an area of approximately 23 square miles. The City is a charter city and is governed by a mayor and six council members. Council members are elected by district with the mayor elected from the City at large. Each member of the Council is elected to a term of four years.

LOCAL ECONOMY
The City of Pomona continues to enjoy a broadly based diverse economy, albeit one with an emphasis upon government, healthcare, and other service-oriented industries. Among Pomona’s large employers are Pomona Valley Hospital, Pomona Unified School District (PUSD), California State Polytechnic University, the City of Pomona itself, and Casa Colina Rehabilitation Center. As a regional healthcare hub, Pomona boasts a premier facility in the Pomona Valley Hospital Medical Center and the non-profit Casa Colina Centers for Rehabilitation.

According to December 2025 estimates published by the Labor Market Information Division of the California Employment Development Department (the most recent such data available), the City’s civilian labor force presently stands at approximately 74,200 workers with 70,300 employed. This results in an unemployment rate of 5.3%
Retail Sales and Use Tax, Utility Users Tax, and Property Tax remain an extremely significant source of revenue for the City. The City of Pomona remains central to the region’s building and construction industry, while other business-to-business sales represent a notable share of local sales tax receipts. vi
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roperty values continue to increase. Current taxable assessed valuation for the City of Pomona including redevelopment areas increased by 6.5% and is $17.3 billion according to the Office of the Los Angeles County Auditor-Controller. Based on the City assessed valuation, overall property tax receipts (secured, unsecured, transfer tax, etc.) were 33% of the 2024-25 General Fund revenues, while Sales Tax and Utility Users Tax are 26% of General Fund revenues.

LONG-TERM FINANCIAL PLANNING
Pomona’s vigilant ongoing review and control over expenditure growth has been and will continue to be a critical factor in maintaining and improving the City’s overall financial health. To ensure its fiscal health, on February 6, 2023, the City Council adopted resolution number 2023-06 approving the City’s Consolidated Fiscal Policies superseding the previous resolution 2011-49. This policy established guidelines for the City’s overall fiscal planning and management and is intended to foster and support continued financial strength and stability of the City. The policy is quite comprehensive and covers areas of Budget, Economic Development, Risk Management, Accounting-Auditing-Financial Reporting, Cash Management and Investments, and Debt Management. The policy includes a separate Fund Balance Policy to ensure the fiscal health of the City, which requires the General Fund to have a ‘Committed Fund Balance’ with a minimum of 22%, increasing by 1% each year, to a maximum of 25%. Based on 2024-25 General Fund expenditure and fund balance numbers, the General Fund will meet the required minimum of 24%.

In addition, the City also established a Catastrophic Events Reserve, Pension 115 Trust Funding, Equipment Replacement Reserve, and Capital Improvement Project Funding that are intended to foster and support the continued financial strength of the City. Funding for these reserves has been impacted by limited resources in the General Fund after the implementation of Measure Y – Children and Youth initiative.

To address long term concern of the City’s growing Pension Liability, The City issued a Pension Obligation bond (Series BJ) in August of 2021. The bond proceeds were sent directly to CalPERS to pay down the City’s Pension Liability and reestablish assets held by PERS for investment. Going forward the investment market’s volatility could prove to be an issue with the valuation of the Pension Liability or Asset but overall, the decision to issue a Pension Obligation Bond proved to be prudent decision. Along with addressing the Pension Liability, the City has established a Section 115 Trust with PARS and has begun to actively make annual contributions from surplus.

As a result of the COVID-19 pandemic, the President issued the American Rescue Plan which provided State and local governments millions of dollars to help combat the effects of the Pandemic. The administration of the monies over the years has been challenging but several programs and projects have benefited the citizens of Pomona. The federal government has mandated the funds to be spent by end of 2026.

OUTLOOK FOR THE FUTURE
Many factors such as high inflation passed along in the cost of goods and services, unstable fuel prices, supply chain and raw material interruptions, and increased interest rates have contributed to the threat that recession may occur. With the approval of the Consolidated Fiscal Policies in February 2023, the need for sufficient reserves is more critical than ever for the City to manage these fiscal uncertainties.

FINANCIAL INFORMATION
City Management is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the City are protected from loss, theft or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with accounting principles generally accepted in the United States of America. The internal control structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. vii
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ingle Audit. As a recipient of federal and state financial assistance, the City is also responsible for ensuring that an adequate internal control structure is in place to ensure compliance with applicable laws and regulations related to those programs. This internal control structure is subject to periodic evaluation by management and the staff of the City. The City is required to undergo an annual single audit in conformance with Single Audit Act of 1996 as amended and Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the “Uniform Guidance”). The results of the City’s single audit for the fiscal year ended June 30, 2025 are published under separate cover.

Budgetary Controls. The City follows procedures in establishing the budgetary data reflected in the fiscal statements. Annual budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America for all governmental funds, except that encumbrances are shown in the year incurred for budgetary purposes. The budget process begins in January with various deadlines to submit requests for appropriations, updating year end estimates, and City Manager review of proposed budgets. The City Council holds public hearings, and a final budget must be adopted no later than June 30th. The budget is primarily prepared by fund, department/cost center, and ledger category. The City’s department directors, with approval of the Finance Director and City Manager, may make transfers of appropriations within a department and between departments within a fund. The legal level of budgetary control (i.e., the level at which expenditures may not legally exceed appropriations) is the fund level. The City Council makes several supplemental budgetary appropriations throughout the year. The supplementary budgetary appropriations made in the various governmental funds are not detailed in the required supplementary information. Under encumbrance accounting, purchase orders, contracts and other commitments for expenditures are reported to reserve that portion of the applicable appropriations.

Encumbrance accounting is employed as an extension of formal budgetary accounting. Unexpended appropriations lapse at year-end regardless of encumbrances.

OTHER INFORMATION
Risk Management. The City maintains a self-insurance program to provide for the general liability, workers compensation and unemployment benefits claims.

Independent Audit. The accounting firm, Badawi & Associates, was selected to perform the annual independent audit. The annual audit is designed to meet the requirements of generally accepted auditing standards in the United States, the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and the Federal Single Audit Act of 1996 as amended and Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the “Uniform Guidance”). The auditors’ report on the basic financial statements is included in the financial section of this report. The auditors’ report related specifically to the single audit is included in a separate Single Audit Report.

Certificate of Achievement. The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Pomona for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2024.

The City of Pomona has received a Certificate of Achievement for the last thirty-two consecutive years (1993-2024). The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports.

In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. The ACFR must satisfy both generally accepted accounting principles in the United States and applicable legal requirements.
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he Certificate of Achievement is valid for a period of one year only. We believe our current report continues to conform to the Certificate of Achievement program requirements, and we are submitting it to GFOA for consideration.

Additional Information. For additional information, please refer to the Management’s Discussion and Analysis in the Introductory Section of this report. This discussion and analysis of the City’s financial performance provides an overview of the City’s financial activities for the fiscal year ended June 30, 2025.

Please read it in conjunction with the basic financial statements and the accompanying notes to the basic financial statements.

Acknowledgments. The preparation of this report could not have been accomplished without the dedicated services of the entire Finance Department staff. Special recognition is given to all the Accounting division staff and the City’s audit firm for their services in the coordination and assistance in the preparation of this year’s report.

In closing, without the leadership and support of the City Council, preparation of this report would not have been possible.

Respectfully submitted,
Andrew Mowbray
Finance Director/City Treasurer
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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Pomona
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2024
Executive Director/CEO
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CITY OF
POMONA

MAYOR TIM SANDOVAL

DEBRA MARTIN
DISTRICT 1 - COUNCIL MEMBER

VICTOR PRECIADO
DISTRICT 2 - COUNCIL MEMBER

NORA GARCIA
DISTRICT 3 - COUNCIL MEMBER

ELIZABETH

ONTIVEROS-COLE
DISTRICT 4 - COUNCIL MEMBER

STEVE LUSTRO
DISTRICT 5 - VICE MAYOR

LORRAINE CANALES

DISTRIC
T 6 - COUNCIL MEMBER

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FISCAL YEAR 2024-25 | CITY COUNCIL

ANITA SCOTT

CITY MANAGER

SONIA CARVALHO
(BEST, BEST, & KRIEGER)

CITY ATTORNEY

ROSALIA BUTLER

CITY CLERK

CITY COUNCIL

COUNCIL APPOINTED

CITY OFFICIALS
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MARK GLUBA

BETTY DONAVANIK

ATA KHAN

ANDREW MOWBRAY

WILLIAM GAMBLE

RENE ANDERSON

SAM WONG

BEVERLY JOHNSON

MIKE ELLIS
MEG McWADE

CITY OF POMONA

EXECUTIVE

MANAGEMENT TEAM
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INDEPENDENT AUDITOR’S REPORT

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

Report on the Audit of the Financial Statements

Opinions

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 of Pomona (City), as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise City’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2025, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions

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

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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

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Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may 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, 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.
 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.

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

2 To the Honorable Mayor and Members
of the City Council of the City of Pomona
Pomona, California

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Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, the budgetary comparison schedules for the general fund and major special revenue funds, and the required pension and other postemployment benefit schedules on pages 5-15 and 133-149 be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Supplementary Information

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The combining individual fund financial statements and budgetary comparison schedules of debt service funds, Capital projects fund, and nonmajor governmental funds are presented for purposes of additional analysis and are not a required part of the basic financial statements.

The combining individual fund financial statements and budgetary comparison schedules of debt service funds, capital project funds and nonmajor governmental funds are 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. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such 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 auditing standards generally accepted in the United States of America. In our opinion, the combining individual fund financial statements and budgetary comparison schedules of debt service funds and nonmajor governmental funds are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

Other Information

Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical section but does not include the basic financial statements and our auditor's report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. 3 To the Honorable Mayor and Members
of the City Council of the City of Pomona
Pomona, California

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If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated June 2, 2026 on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of 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.

Badawi & Associates, CPAs
Emeryville, California
June 2, 2026
4 MANAGEMENT’S DISCUSSION AND ANALYSIS

Fiscal Year Ended June 30, 2025

The following Management’s Discussion and Analysis (MD&A) of the City of Pomona’s financial performance provides an introduction and overview to the financial activities of the City for the fiscal year ended June 30, 2025.

This narrative discussion and analysis focuses on the fiscal year 2024-25 activities, resulting changes and current known facts; therefore, the information presented here should be considered in conjunction with additional information furnished in the transmittal letter and the accompanying basic financial statements.

FINANCIAL HIGHLIGHTS

 As of June 30, 2025, the City’s net position was $340.1 million. The City’s total net position increased from the prior fiscal year’s net position by 51.7 million primarily due to an increase in capital assets. The net investment in capital assets increased by $35 million in the area of street and park projects that were completed or in progress over the course of fiscal year 2024-2025. Significant projects were achieved using funding from the American Rescue Plan such as street repaving on Garey Ave, Civic Center Plaza rehabilitation, implementation of new ERP system, and many initiatives to address homelessness or assist the community through rants or rent stabilization.
 The City’s total governmental funds reported combined fiscal year 2024-2025 fund balances of . $173.8 million, an increase of $3.1 million in comparison with the prior fiscal year of $166.4 million. Of the $173.8 million total, $0.7 million is nonspendable (not available for new spending) and $175.1 million is in the restricted fund balance category, which is spendable with external restrictions. The committed fund balance category of $43 million includes the City’s contingency reserve and Catastrophic Event reserves of $600,000, which are discussed in more detail later in this report. Due to the Debt Service funds reporting a deficit fund balance, the total governmental funds unassigned fund balance is $(45.0) million.

Unassigned fund balances represent amounts that are not formally restricted or committed.  General Fund operational revenues exceeded operational expenditures by $3.9 million. After transfers including the Measure Y – Children and Youth program, net change in fund balances was a decrease of $1.1 million. The end of year balance of $63.2 million includes a prior period adjustment of $3.7 million.

This adjustment captures prior year contributions to the Pension Section 115 Trust that had not been reflected as an asset. The Pension Section 115 Trust is classified as restricted fund balance which indicates it has external restrictions on when it can be spent. Committed fund balance for fiscal sustainability in the General Fund was $42.4 million, which is 24% of FY 2024-25 total general fund expenditures, including transfers out. The General Fund maintains the fiscal sustainability reserve for emergency contingencies such as economic uncertainties, local disasters, recession or other financial hardships and to subsidize unforeseen operating or capital needs and finally, for cash flow requirements  The City’s total Business Type funds reported combined fiscal year 2024-2025 net position of $170.7 million, an increase of $9.3 million in comparison with the prior fiscal year of $161.3 million. The primary increase was in cash and investments due to a settlement in the Water Fund related to ground water.

OVERVIEW OF THE FINANCIAL STATEMENTS

This discussion and analysis portion of the annual financial report is intended to serve as an introduction to, and provide the reader with a fundamental understanding of, the Annual Comprehensive Financial Report (ACFR) for the City of Pomona. The ACFR is divided into four main sections. First is the Introductory Section which provides the letter of transmittal, an organizational chart, and a list of City officials. The Introductory Section is followed by the Financial Section, which contains the independent auditor’s report, the management’s discussion and analysis, and finally the basic financial statements. These statements contain the “core” financial information for Andrew Mowbray
Finance Director/City Treasurer

THE CITY OF
POMONA
Finance Department

5 CITY OF POMONA

Management’s Discussion and Analysis, Continued
Year Ended June 30, 2025

the City of Pomona. The basic financial statements include the government-wide financial statements, followed by the fund financial statements, and finally, the notes to the financial statements. The Financial Section is followed by the Supplemental Data portion of the report, which provides individual fund and combining information that rolls up into the amounts shown in the basic financial statements. The final portion of the ACFR is the Statistical Section. This section presents selected financial and demographic information, generally presented on a multi-year basis.

Government-wide financial statements. The government-wide financial statements are designed to provide the reader with a broad overview of the City of Pomona’s finances, in a manner similar to a private sector business.

Information contained within the government-wide statements includes the entire City government (except fiduciary funds) and the City’s component units. These statements use the accrual basis of accounting with the measurement focus on that of economic resources. All assets and deferred outflows of resources and liabilities and deferred inflows of resources, both financial and capital, short-term and long-term, are included. All revenues and expenses during the year, regardless of when cash is received or disbursed, are reported. The government- wide financial statements include the Statement of Net Position and the Statement of Activities.

The Statement of Net Position presents information on all of the City of Pomona’s assets and deferred outflows of resources and liabilities and deferred inflows of resources, with the difference between the two reported as “net position”. Increases or decreases in net position may serve as a useful indicator as to whether the financial condition of the City of Pomona is improving or deteriorating over time.

The Statement of Activities presents information showing how the City’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event causing the change occurs, regardless of when cash is actually received or disbursed. This means that revenues and expenses in this statement are recorded when earned or a liability is incurred. Thus, items such as the value of earned but unused vacation leave will be recorded as an expense of the current period, even though the actual use of the vacation time may not be until subsequent periods.

Both of the government-wide statements distinguish between functions of the City of Pomona that are principally supported by taxes or intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges ( business-type activities). The governmental activities of the City of Pomona include general government, public safety, development services and public works, neighborhood services and library, and interest on long term debt. The business-type activities of the City of Pomona include water, sewer, refuse, and Pomona Choice Energy Authority.

Fund financial statements. A “fund” is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City of Pomona, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance related legal requirements. The fund financial statements provide more detailed information about the City’s most significant funds, not the City as a whole. All of the funds of the City of Pomona can be divided into three categories:
governmental funds, proprietary funds, and fiduciary funds.

Governmental funds include activities of the City that are not proprietary or fiduciary. These funds are used to account for, essentially, the same functions reported as “governmental activities” in the government-wide financial statements. Unlike the government-wide financial statements, however, governmental fund financial statements use the modified accrual basis of accounting and focus on near-term inflows and outflows of spendable resources, as well as the balances of spendable resources available at the end of the fiscal year. Only assets expected to be used and liabilities that come due during the year or soon thereafter are reported on the Balance Sheet. No capital assets are included. Revenues for which cash is received during or soon after the end of the year, and expenditures for goods and services that have actually been received during the year, are included within the Statement of Revenues, Expenditures, and Changes in Fund Balance.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds in the fund financial statements with similar information presented for “governmental activities” in the government-wide financial statements. By doing so, the reader may better understand the long-term impact of the City’s near-term financing decisions. Both the 6 CITY OF POMONA

Management’s Discussion and Analysis, Continued
Year Ended June 30, 2025

Governmental Fund Balance Sheet and the Statement of Revenues, Expenditures, and Changes in Fund Balance provide a reconciliation to facilitate this comparison.

The City of Pomona maintains 27 individual governmental funds. Individual fund information is presented for the “major” funds in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balance. The major funds presented include the General Fund, the Housing Authority Fund, , the Capital Outlay Capital Projects Fund, the General Government Debt Service Fund, and the Public Financing Authority Debt Service Fund. Information for the remaining governmental funds is combined into a single “other governmental funds” column on the face of the financial statements. Individual fund data for each of these non-major governmental funds is provided in the form of “combining statements” presented in the Supplemental Data portion of the report.

Proprietary funds are used to report two types of funds: enterprise funds and internal service funds. Enterprise funds report the same functions presented as “business-type” activities in the government-wide financial statements. These include activities that the City operates similar to a private business. The City of Pomona uses enterprise funds to account for the operations of the City utilities, and Pomona Choice Energy Authority. The Water, Sewer and Pomona Choice Energy Authority are considered major enterprise funds. Internal service funds are an accounting device used to accumulate and allocate costs internally among the City’s various functions.

The City of Pomona uses internal service funds to account for its self-insurance activities, equipment maintenance activities, information technology activities, and printing/mail service activities. Because these four services predominately benefit governmental rather than business-type functions, the activity has been included within “governmental activities” in the government-wide financial statements. All internal service funds are combined into a single aggregated column presentation in the proprietary fund financial statements. Individual fund data for the internal service funds is provided in the form of combining statements presented in the Supplemental Data portion of the report. Proprietary funds use the accrual basis of accounting and focus on the accumulation and use of economic resources. Proprietary fund financial statements include a Statement of Net Position, a Statement of Revenues, Expenses, and Changes in Net Position, and a Statement of Cash Flows. All assets and liabilities, both financial and capital, short and long-term are included within these statements. All revenues earned and expenses incurred during the year are also included, regardless of when cash is actually received or paid.

Fiduciary funds are used to account for resources held for the benefit of parties outside of the government.

Fiduciary funds are not reflected in the government-wide financial statements because the funds are custodial in nature, and therefore, these resources are not available to fund the City of Pomona programs. The City implemented GASB 84 during fiscal year 2020-21. GASB 84 redefined what a Fiduciary activity is and how it should be reported. The implementation resulted in several activities no longer meeting the new criteria that were moved to the City’s General Fund.

Notes to the financial statements. The notes to the financial statements provide additional information that is essential to a full understanding of the information contained in the government-wide and fund financial statements.

The combining statements referred to earlier in connection with non-major governmental funds and internal service funds are presented immediately following the notes to the financial statements.

7 CITY OF POMONA

Management’s Discussion and Analysis, Continued
Year Ended June 30, 2025

GOVERNMENT-WIDE FINANCIAL ANALYSIS
The government-wide financial statements provide information about the City’s overall financial picture from the perspective of all the City’s governmental and business-type funds combined together. This form of financial reporting is intended to provide a perspective similar to that found in the private sector with its full accrual accounting basis and elimination or reclassification of internal service activities. The governmentwide financial statements provide long-term and short-term information about the City’s overall financial condition. The following analysis addresses the financial statements of the City as a whole

Net position. The statement of net position provides a snapshot at a given point in time of the assets and liabilities of the City. Net position may serve over time as a useful indicator of a government’s financial position. Total net position has increased when compared to the prior year mainly due to a decrease in liabilities and an increase in Investment in Capital Assets.

Below is a summary schedule showing the components that make up the City’s net position (in millions) as of June 30, 2025 and 2024.

Summary of Net Position

For the City of Pomona, total assets and deferred outflow of resources exceeded total liabilities and deferred inflows of resources by $340.2 million at June 30, 2025. $377.6 million is reported as Net investment in capital assets. This amount represents those capital assets (land, buildings, improvements, equipment, and work in progress), some of which have been acquired over time and financed by the issuance of long-term debt. The City of Pomona uses these capital assets to provide services to the citizens of the City, and the assets are not spendable and therefore not available for meeting current financial obligations. Although net investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay the debt must come from other operating sources, since the capital assets themselves cannot be used to make debt service payments. 2025 2024 2025 2024 2025 2024
Current and other assets 241.1$ 248.3$ 146.3$ 137.3$ 387.4$ 385.6$ Capital assets 358.8 326.2 179.5 179.9 538.3 506.1$ Total assets 599.9$ 574.5$ 325.8$ 317.2$ 925.7$ 891.7$ Deferred outflows of resources
Deferred change 0.2$ 0.3$ 0.3$ 0.4$ 0.5$ 0.7$ Deferred pension related items 31.5 47.3 3.2 5.0 34.7 52.3$ Deferred OPEB related items 4.1 4.4 1.1 1.0 5.2 5.4$ Total deferred outflows of resources 35.8$ 52.0$ 4.6$ 6.4$ 40.4$ 58.4$ Current and other liabilities 84.9$ 99.4$ 22.7$ 22.9$ 107.6$ 122.3$ Long-term liabilities outstanding 370.3 386.1 131.8 133.9 502.1 520.0 Total liabilities 455.2$ 485.5$ 154.5$ 156.8$ 609.7$ 642.3$ Deferred inflows of resources
Deferred charge on refunding 0.3$ 0.3$ 2.5$ 2.6$ 2.8$ 2.9$ Deferred inflows of related to leases 0.1 0.2 - - 0.1 0.2 Deferred pension related items 0.1 0.6 0.0 0.2 0.1 0.8 Deferred OPEB related items 10.5 12.8 2.7 2.8 13.2 15.6 Total deferred inflows of resources 11.0$ 13.9$ 5.2$ 5.6$ 16.2$ 19.5$ Net Position:

Net Investment in capital assets 296.7$ 261.5$ 80.9$ 81.1$ 377.6$ 342.6$ Restricted 171.7 101.1 7.7 - 179.4 101.1 Unrestricted (298.9) (235.5) 82.0 80.2 (216.9) (155.3) Total net position 169.5$ 127.1$ 170.6$ 161.3$ 340.1$ 288.4$ Governmental
A ctivities
Business-Type
A ctivities Total
8 CITY OF POMONA

Management’s Discussion and Analysis, Continued
Year Ended June 30, 2025

An additional portion of net position, in the amount of $179.4 million, reported as Restricted net position represents resources that are subject to external restrictions on how it may be used. Restrictions include assets that are legally set aside for future capital development, capital projects, housing-related activities, debt service reserves, and other legally restricted amounts. The remaining balance is unrestricted net position of $(216.9) million. It is not uncommon in government entities to see an unrestricted deficit net position.

The City issued a Pension Obligation bond (Series BJ) in August of 2021. The bond was issued to pay down the City’s Pension Liability. The proceeds of the bond were sent directly to PERS to reduce the City’s liability and increase the assets attributed to the City that are held by CalPERS. The pension bonds are included in long-term debt. The Net Pension Liability with CalPERS is for the new liability accrued due to market volatility affecting the investment performance of City assets held and managed by CalPERS.

Changes in net position. This statement provides the reader with information regarding the revenues, expenses, and changes in net position over the fiscal year. Generally, all changes to the City’s net position from one fiscal year to the next flow through the statement of activities.

In fiscal year 2024-2025, the City’s governmental activities total revenues of $284.9 million exceeded expenses of $250.3 million by $34.6 million. The City’s business-type activities total revenues of $120.0 million exceeded expenses of $103.9 million by $16.1 million. The City’s Expenses cover a range of services for governmental activities, the expenditures for Public Safety were $121.2, followed by Development Services of $77.9 million, General Government of $31 million, Neighborhood Services and Library of $13.9 million, and Interest on Long- Term Debt of $8.4 million. Further analysis is provided within the governmental and business-type activities sections on the following pages.

The following is a summary table showing the components that make up the City’s changes in net position (in millions) for the years ended June 30, 2025 and 2024.

Statement of Changes in Net Position

2025 2024 2025 2024 2025 2024
Revenues:

Program Revenues:

Charges for services 31.5$ 39.4$ 31.5$ 39.4$ Water - - 45.8$ 45.8$ 45.8 45.8 Sewer - - 7.1 7.4 7.1 7.4 Refuse - - - 0.3 - 0.3 Pomona Choice Energy Authority - - 61.2 57.2 61.2 57.2 Operating contributions and grants 59.6 49.2 - - 59.6 49.2 Capital contributions and grants 39.8 21.9 - - 39.8 21.9 Total Program Revenues 130.9 110.5 114.1 110.7 245.0 221.2 General Revenues:

Taxes:

Property taxes 53.3 50.4 - - 53.3 50.4 Sales Taxes 40.8 41.1 - - 40.8 41.1 Transient occupancy taxes 3.4 3.2 - - 3.4 3.2 Franchise taxes 7.6 7.5 - - 7.6 7.5 Utility users tax 23.3 21.0 - - 23.3 21.0 Other taxes 8.0 9.1 - - 8.0 9.1 Use of money and properties 12.2 11.3 5.8 3.8 18.0 15.1 Miscellaneous 0.6 2.8 0.1 (2.1) 0.7 0.7 Restitution settlement - - - 15.6 - 15.6 Gain (Loss) on sale of capital assets 4.8 (0.2) - (0.2) 4.8 (0.4) Total General Revenues 154.0 146.2 5.9 17.1 159.9 163.3 Total Revenues 284.9$ 256.7$ 120.0$ 127.8$ 404.9$ 384.5$ Governmental
Activities
Business-Type
Activities Total
9 CITY OF POMONA

Management’s Discussion and Analysis, Continued
Year Ended June 30, 2025

Statement of Changes in Net Position table continued –

Governmental Activities –
The City had a $38.7 million increase in net position from governmental activities. The largest increase on the government wide statements from the prior year was in the program revenues with an overall increase of $19.9 million primarily from Operating grants and Capital grants.

Program Revenues, as reflected in the table above, were $130.9 million in fiscal year 2024-25. Per GASB 34, program revenues are derived directly from the program itself or from parties outside the reporting government’s taxpayers or citizens. Program Revenues reduce the net cost of the functions financed from the government’s general revenues. 24% of the Governmental Program Revenues came from Charges for Services (which includes licenses and permits, plan check fees, recreation fees, police special service fees, and other revenues), 46% from the Operating Grants and Contributions category (including restricted revenues such as Gas Tax, Asset Forfeitures and Federal/State Grants), and 30% are from Capital Grants and Contributions. Charges for services decreased in FY 2024-25 mainly due to one-time revenues that occurred in the previous year related to loan repayment and contract reimbursement. FY 2025-25 also reflects a reduction in building permit revenues compared to the prior year. Operating contributions and grants revenue increased due to new grants received or accrued.

General Revenues are the “public benefit” portion of governmental activities and totaled $154.0 million in taxes (some of which is restricted for certain programs). General Revenues increased from the prior year by $7.8 million in the area of taxes (property and utility users tax) and gain on sale of capital assets.

The cost (expenses) of all governmental activities this year was $250.3 million, an increase of $13.4 million from the prior year. The largest increases were in Public Safety, which had an increase of $2.9 million primarily due to increases in earnings and benefits as a result of negotiated contracts. Development services had an increase of $13.7 million due to increased spending on housing assistance programs of various kinds (HUG program, 1st time home buyers, rehab programs, ADU loans, etc.), a new OPA agreement and increases in earnings and benefits as a result of negotiated contracts.

2025 2024 2025 2024 2025 2024
Expenses:

General government 19.5$ 23.0$ -$ -$ 19.5 $ 23.0$ Public safety 121.2 118.3 - - 121.2 118.3 Development services & public services 90.9 77.2 - - 90.9 77.2 Neighborhood services and library 10.3 9.5 - - 10.3 9.5 Interest on long-term debt 8.4 8.9 - - 8.4 8.9 Water - - 41.8 36.3 41.8 36.3 Sewer - - 6.3 3.2 6.3 3.2 Refuse - - - - - - Pomona Choice Energy - - 55.8 48.5 55.8 48.5 Total Expenses: 250.3$ 236.9$ 103.9$ 88.0$ 354.2$ 324.9$ Increase (decrease) in net position before transfers 34.6$ 19.8$ 16.1$ 39.8$ 50.7$ 59.6$ Transfers 4.1 2.6 (4.1) (2.6) - - Increase (decrease) in net position 38.7$ 22.4$ 12.0$ 37.2$ 50.7$ 59.6$ Beginning Net Position 127.1 107.3 161.3 121.6 288.4 228.9 Restatements 3.7 - (2.7) - 1.0 - Beginning Net Position as restated 130.8 107.3 158.6 121.6 289.4 228.9$ Ending Net Position 169.5$ 129.7$ 173.3$ 158.8$ 339.1$ 288.5$ Governmental
A ctivities
Business-Type
A ctivities Total
10 CITY OF POMONA

Management’s Discussion and Analysis, Continued
Year Ended June 30, 2025

The following graphs provide a visual representation of the governmental revenues and expenditures.

Business Type Activities - The cost of all business-type activities in 2024-25 was $103.9 million and the amount of resources received was $120.0 million. Total business-type activities net ending position available at the fiscal year end was $173.3 million. The Net Position increase was $12.0 million compared to the prior year, which included program revenue primarily for the Pomona Choice Energy Authority and use of money (investment earnings) increases. There was a prior period adjustment to fund balance in the Water and Sewer funds correcting accrued revenue related to 2023-24 activities. The following graph provides a visual representation comparing revenues to expenditures for the Business-Type Activities.

Water Sewer Pomona Choice Energy
Authority
Revenue 45.80 7.10 61.20
Expenditures 41.80 6.30 55.80

45.80 7.10

61.20 41.80

6.30 55.80
-

10.00 20.00

30.00 40.00

50.00 60.00

70.00 Enterprise Revenue & Expenditures (in millions)
Taxes
48%
Charges for
Services
11%
Operating
Grants and
Contributions
21%
Capital Grants and Contributions
14%
Use of money
and properties
4%
Miscellaneous
2%
Governmental Revenues
General
Government
13% Public Safety
47%
Development
Services and
public works
31%
Neighborhood
Services and
library
6%
Interest on
long-term debt
3%
Governmental Expenditures
11 CITY OF POMONA

Management’s Discussion and Analysis, Continued
Year Ended June 30, 2025

FINANCIAL ANALYSIS OF THE CITY’S FUNDS

The City uses governmental fund accounting to ensure compliance with budgetary allocations and to maintain control over resources that are legally, or otherwise, restricted for specific purposes. Following is a discussion of the individual “major” funds as shown on the Balance Sheet for Governmental Funds in the basic financial statements.

Governmental Activities
The following funds were reported as “major” funds on the Statement of Net Position for Governmental Funds in the basic financial statements:

General Fund - The General Fund is used to account for the general operations of the City. It is used to account for all financial resources, except those required to be accounted for in another fund. The General Fund is always reported as a “major fund”. The General Fund reported $162.6 million in revenues and $158.7 million in expenditures resulting in revenues over expenditures in the amount of $3.9 million before accounting for other financing uses of $(5.1) million, which resulted in net decrease to the General Fund fund balance of $(1.1) million.

Total fund balance at June 30, 2025 is $63.2 million. The Balance Sheet shows total assets of $72.5 million less $9.2 million in liabilities and $0.1 million in deferred inflows and resources resulting in fund balance of $63.2 million.

There are several components to the General Fund fund balance. Nonspendable is less than $0.01 million set aside for prepaid costs. Restricted is $3.8 million and represents Section 115 funding with a third party restricted for pension purposes. Committed fund balance has two components: reserves for fiscal sustainability, $42.4 million, and for catastrophic events, $0.6 million. The Committed fund balance reserves were established when the City adopted resolution 2023-06 with updated Consolidated Fiscal Policies and Administrative Procedures.

The policy includes reserve goals for the purpose of guiding the City’s financial planning to meet financial obligations while providing high quality services. The policy established target percentages of the General Fund operating expenditures including transfers out is to be committed for fiscal sustainability. For fiscal year 2024-25, the goal of 24% was met. The catastrophic event reserve policy has established annual funding goals with a cap of $5 million. Any committed portion of fund balance can only be used for specific purposes pursuant to constraints imposed by formal action of the City Council and remains in-place unless removed in the same manner. Assigned is another category of fund balance. Currently nothing is reported as assigned. Unassigned is the remaining portion of fund balance at $16.2 million and has no restrictions on availability for spending.

General fund revenues increased $4.1 million in the fiscal year compared to the prior year. The largest portion of the increase was taxes in the areas of property taxes and utility users tax. All other revenues remained consistent with prior years with minor increases and decreases.

Housing Authority Fund – The Housing Authority Fund accounts for grant revenues for housing assistance programs, payments and acquisition, rehabilitation, and administration of properties used to provide affordable rental housing. The Housing Authority fund has historically been a “major” fund based on criterion set forth by GASB 34. For the fiscal year the Housing Authority reported $29.9 million in revenues and $30.6 million in expenditures and transfers, resulting in a net change in fund balance in the amount of $(0.6) million. The Housing Authority fund has $24.4 million in assets, which when netted with $1.3 million in liabilities and $1.9 million in deferred inflows and resources results in $21.1million in fund balance. The $21.1 million in fund balance is restricted for housing programs. The Housing Authority fund is mainly comprised of grant revenue and program costs. Fund balance has remained consistent from year to year.

General Government Debt Service Fund – The General Government Debt Service fund accounts for the various debts that are exclusively in the City’s name. For the fiscal year, the General Government Debt Service fund reported $0.3 million in revenues and $17.0 million in expenditures that are mainly principal and interest debt service payments. Other funds transferred in monies in the amount of $18.9 million to pay for the debt service payments. The resulting net change in fund balance was $2.2 million. The liability is an advance from the Public Financing Authority for Series BC & BG.

12 CITY OF POMONA

Management’s Discussion and Analysis, Continued
Year Ended June 30, 2025

Public Financing Authority Debt Service Fund – The Public Financing Authority (PFA) Debt Service fund accounts for the various City debts that were issued for the City in the name of the PFA. For the fiscal year, the PFA Debt Service fund reported $3,901 in revenues and $2.2 million in expenditures. The expenditures are all principal and interest debt service payments. The resulting net change in fund balance totals $(2.2) million. The asset is an advance to the General Government Debt Service fund for Series BC & BG.

Capital Outlay Capital Projects Fund – This fund was established to account for all Capital Improvement Projects with the exception of projects funded with Enterprise Funds. For the fiscal year, the fund reported $47.8 million in revenues including transfers in and $47.7 million in expenses. Revenues increased by $14.6 million and expenditures increased by $19.2 million compared to the prior year due increased activity from federal, state and local grants and construction projects. The fund is made up of $32.2 million in assets, which is offset by $12 million in liabilities and $4.4 million in deferred inflow of resources.

Non-Major Funds - The Non-Major Governmental Funds show a net increase of $5.1 million in fund balance.

Business Type Funds
The following funds were reported as “major” funds on the Statement of Net Position for Proprietary Funds in the basic financial statements:

Water Fund – The Water Fund is used to account for all activities associated with the distribution and transmission of potable water as well as reclaimed water to users. The Water Fund reported $45.8 million in operating revenues and operating expenses of $39.4 million resulting in operating income of $6.4 million. After consideration of non- operating revenues, expenses and transfers the total change in net position is $6.1 million with total revenues in excess of expenses. The Water Fund is made up of $78 million in current assets, $150.2 million in non-current assets, $2.6 million in deferred outflows of resources, $15.1 million in current liabilities, $99.4 million in non-current liabilities and $4.2 million in deferred inflow of resources resulting in net position of $112 million. The Water Fund shows a prior period adjustment of $2 million which reflects combining the Canon Company Water agency balances into the Water Fund and the adjustment to accrued revenues. The Canon Company Water agency was dissolved in June 2021.

Sewer Fund – The Sewer Fund is used to account for the operation and maintenance of the City’s sewer network.

The Sewer Fund reported $7.2 million in operating revenues and operating expenses of $5.4 million resulting in operating income of $1.8 million. After consideration of non-operating revenues, non-operating expenses, and transfers, the total change in net position is $1 million with total revenues in excess of expenses. The Sewer Fund is made up of $22.1 million in current assets, $31.4 million in non-current assets, $0.7 million in deferred outflows of resources, $1.4 million in current liabilities, $24.3 in non-current liabilities and $0.3 million in deferred inflow of resources resulting in net position of $28.3 million.

Pomona Choice Energy Authority Fund – The Pomona Choice Energy Authority was established in FY 2019-20 to offer the Citizens of Pomona an alternative source of energy to their homes. The Water fund loaned Pomona Choice Energy Authority (PCEA) startup costs in order to establish operations. PCEA recorded $61.2 million in revenues and $55.8 million in expenditures resulting in an operating gain of $5.4 million. The gain resulted in a positive fund balance of $23.2 million. PCEA is made up of $31.6 million in assets, $8.4 million in liabilities resulting in the positive fund balance of $23.2 million.

GENERAL FUND BUDGETARY INFORMATION

The originally adopted General Fund budget had $161.2 million in appropriations to fund operations and services.

This amount increased to $166.2 million by the end of the fiscal year through City Council approved budget amendments. This was an increase of $5 million. The increase is primarily funding for the Children and Youth fund per Measure Y charter amendment passed by the voters in November 2024 and funding for the Civic Center Plaza Playground project.

13 CITY OF POMONA

Management’s Discussion and Analysis, Continued
Year Ended June 30, 2025

General Fund Budget Summary

The adopted General Fund Revenue Budget reflected $161.3 million in anticipated revenues. With adjustments the amended revenue estimates increased by $1 million. As of June 30, 2025, $165.5 million was received.

General Fund revenues were over the amended budget by approximately $3.3 million due to increases in taxes, primarily in the area of taxes from property taxes and utility taxes. When preparing the budget, conservative revenue estimates are prepared in collaboration with the City’s revenue consultants, trends, and available information at the time of preparation. It is a living document that is amended throughout the year. Even so, actual revenues and expenditures may exceed budget. The above chart includes transfers in and transfers out.

CAPITAL ASSETS

The capital assets of the City are those assets, which are used in the performance of the City’s functions including infrastructure assets. At June 30, 2025, net capital assets of the governmental activities totaled $358.8 million and the net capital assets of the business-type activities totaled $179.5 million. Depreciation on capital assets is recognized in the government-wide financial statements.

For Government Activities, the City had a total of 70 active projects which varied in the amount of activity in FY 2024-25. The largest increase in Capital Assets was in the Construction in Progress category. A total of $43.3 million was added to Construction in Progress in FY 2024-25. The major projects were:
 Project #67930 - Pomona Multi-Neighborhood Pedestrian and Bicycle Improv ($7.3 million)  Project #68573 – Garey Ave. Rehabilitation – Aliso St. to Monterey Ave. ($6.5 million)  Project #71063 – Civic Center Plaza Rehabilitation ($5.7 million)  Project #71047 – Holt Avenue (West) Reconstruction ($3.5 million)  Project #74120 – Pomona Library Facility Improvements ($3.5 million)  Project #68592 – Street Preservation – Local (FY 23-24) ($3.1 million)  Project #71048 – Financial Software Project ($1.7 million)  Project #67920 – Street Preservation – Citywide (FY 16-17) ($1.0 million)  Project #71050 – Holt Avenue (East) Reconstruction ($0.8 million)

For Enterprise Activities, the largest increase in Capital Assets was in the Construction in Progress class. There was $1.4 million added to Construction in Progress. The main project was:
 Project #93135 – Water Resources Admin & Op Facility ($0.7 million)

Additional information on the City of Pomona’s capital assets may be found in Note 9 in the Notes to the Basic Financial Statements.

ECONOMIC FACTORS

Pomona continues to be vigilant with ongoing review and control over expenditure growth, and this will continue as a critical factor in maintaining and improving the City’s overall financial health. To ensure its fiscal health, on February 6, 2023, the City Council adopted resolution No. 2023-06 approving the City’s Consolidated Fiscal Policies. This policy established guidelines for the City’s overall fiscal planning and management intended to foster and support continued financial strength and stability of the City. The policy covers areas of Budget, Economic Development, Risk Management, Accounting-Auditing-Financial Reporting, Cash Management and Investments, and Debt Management. The policy established a Fund Balance Policy that requires the General Fund to have a Committed Fund Balance with a minimum of 22% and a maximum of 25%. Based on 2024-25 General Fund expenditures and fund balance numbers, the General Fund will meet the 24% goal.

Adopted Budget Amended Budget
% Amended/
Original Actuals to Date
% Actuals/
Amended
Budget
Total Revenue 161,298,212.00 162,282,293.00 103% 165,537,272.00 102% Total Expense 161,260,159.00 166,592,989.00 103% 168,865,000.00 101% Net Surplus (deficit) 38,053.00 (4,310,696.00) (3,327,728.00) 14 CITY OF POMONA

Management’s Discussion and Analysis, Continued
Year Ended June 30, 2025

To address the long-term concern of the City’s growing Pension Liability, The City issued a Pension Obligation bond (Series BJ) in August of 2021. The bond was issued to pay down the City’s Pension Liability. The proceeds of the bond were sent directly to PERS to reduce the City’s liability and increase the asset held by CalPERS. On going investment market volatility could prove to be an issue with the valuation of the Pension Liability or Asset but overall the decision to issue a Pension Obligation Bond proved to be a prudent decision. Along with addressing the Pension Liability, the City is forward thinking in addressing the growing Other Post Employment Obligation (OPEB) liability. Along with addressing the Pension Liability, the City has established a Section 115 Trust with PARS and began to actively make annual contributions based on the Consolidated Fiscal Policies from surplus.

As a result of the COVID-19 pandemic, the President issued the American Rescue Plan which provided State and local governments millions of dollars to help combat the effects of the Pandemic. The administration of the monies over the years has been challenging but several amazing programs have helped the citizens of Pomona. The federal government has mandated the funds be obligated by 2024 and to be spent by December 2026.

CONTACTING THE CITY’S FINANCIAL MANAGEMENT

This financial report is designed to provide Pomona residents, taxpayers, customers, investors and creditors with a general overview of the City’s finances and to show the City’s accountability for the money it receives. Questions about this report, separate reports of the City’s component units, or any additional financial information, should be directed to the City of Pomona Finance Department at 505 S. Garey Avenue (P.O. Box 660), Pomona, California, 91769.

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16 BASIC

FINANCIAL STATEMENTS
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18 GOVERNMENT-WIDE

FINANCIAL STATEMENTS
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20 City of Pomona
Statement of Net Position
June 30, 2025
Governmental Business-type
Activities Activities Total
ASSETS
Current assets:

Cash and investments 167,433,944$ 108,663,039$ 276,096,983$ Receivables:

Accounts 7,078,182 19,040,689 26,118,871 Notes and loans 39,754,360 - 39,754,360 Interest 1,417,016 596,826 2,013,842 Internal balances (7,197,307) 7,197,307 - Prepaid costs 701,446 508,118 1,209,564 Due from other governments 20,023,039 - 20,023,039 Inventories 394,681 1,362,173 1,756,854 Leases receivable 102,240 - 102,240 Land held for resale 4,359,737 - 4,359,737 Restricted assets:

Cash and investments 4,947,325 850,945 5,798,270 Cash and investments with fiscal agent 1,751,914 8,127,989 9,879,903 Total current assets 240,766,577 146,347,086 387,113,663 Noncurrent assets:

Other investments - 9,000 9,000 Net pension asset 388,154 - 388,154 Capital assets:

Nondepreciable 160,648,553 56,127,506 216,776,059 Depreciable, net of depreciation 198,171,045 123,319,654 321,490,699 Total capital assets 358,819,598 179,447,160 538,266,758 Total noncurrent assets 359,207,752 179,456,160 538,663,912 Total assets 599,974,329 325,803,246 925,777,575

DEFERRED OUTFLOWS OF RESOURCES
Deferred charges on refunding 235,061 312,312 547,373 Deferred outflows of resources related to pensions 31,462,227 3,207,747 34,669,974 Deferred outflows of resources related to OPEB 4,113,543 1,128,010 5,241,553 Total deferred outflows of resources 35,810,831 4,648,069 40,458,900

LIABILITIES
Current liabilities:

Accounts payable 17,603,142 9,570,629 27,173,771 Accrued liabilities 720,817 - 720,817 Accrued interest 3,186,332 559,926 3,746,258 Unearned revenue 15,846,604 57,360 15,903,964 Retentions payable 1,763,486 1,644,989 3,408,475 Deposits payable 3,889,884 4,653,289 8,543,173 Payroll payable 2,959,880 447,059 3,406,939 Compensated absences - current 8,245,000 1,389,000 9,634,000 Total OPEB liability - current 4,239,792 1,022,393 5,262,185 Claims and judgements - current 14,049,000 - 14,049,000 Long-term debt - current portion 12,476,273 3,450,009 15,926,282 Total current liabilities 84,980,210 22,794,654 107,774,864 Noncurrent liabilities:

Compensated absences 4,999,944 1,087,410 6,087,354 Claims and judgements 19,755,861 - 19,755,861 Net pension liability 39,011,983 2,551,487 41,563,470 Total OPEB liability 66,613,710 16,063,384 82,677,094 Other long-term liabilities 2,778,987 - 2,778,987 Long-term debt 237,098,050 112,080,307 349,178,357 Total noncurrent liabilities 370,258,535 131,782,588 502,041,123 Total liabilities 455,238,745 154,577,242 609,815,987

DEFERRED INFLOWS OF RESOURCES
Deferred charges on refunding 261,471 2,473,817 2,735,288 Deferred inflows of resources related to leases 98,071 - 98,071 Deferred inflows of resources related to pensions 144,030 38,366 182,396 Deferred inflows of resources related to OPEB 10,528,621 2,745,217 13,273,838 Total deferred inflows of resources 11,032,193 5,257,400 16,289,593

NET POSITION
Net investment in capital assets 296,702,531 80,890,097 377,592,628 Restricted for:

Community development projects 63,209,348 - 63,209,348 Public Safety 1,481,572 - 1,481,572 Neighborhood service 24,212,471 - 24,212,471 Parks and recreation 5,002,664 - 5,002,664 Capital projects 15,808,908 - 15,808,908 Pension 388,154 - 388,154 Debt sevice 61,608,749 7,771,426 69,380,175 Total restricted 171,711,866 7,771,426 179,483,292 Unrestricted (298,900,175) 81,955,150 (216,945,025) Total net position 169,514,222$ 170,616,673$ 340,130,895$ Primary Government
See accompanying Notes to Basic Financial Statements.
21 City of Pomona
Statement of Activities
For the year ended June 30, 2025
Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions Total Governmental activities:

General government 19,511,583$ 10,234,542$ 11,331,183$ -$ 21,565,725$ Public safety 121,155,046 6,283,483 3,278,370 - 9,561,853 Development services and public works 90,923,951 13,440,521 44,948,501 39,808,870 98,197,892 Neighborhood services and library 10,299,924 1,545,361 - - 1,545,361 Interest on long-term debt 8,398,443 - - - - Total governmental activities 250,288,947 31,503,907 59,558,054 39,808,870 130,870,831 Business-type Activities:

Water 41,788,217 45,763,175 - - 45,763,175 Sewer 6,260,433 7,132,641 - - 7,132,641 Pomona Choice Energy Authority 55,794,714 61,201,849 - - 61,201,849 Nonmajor Enterprise Funds 12,045 210 - - 210 Total business-type activities 103,855,409 114,097,875 - - 114,097,875 Total primary government 354,144,356$ 145,601,782$ 59,558,054$ 39,808,870$ 244,968,706$ General Revenues:

Taxes:

Property taxes, levied for general purpose
Transient occupancy taxes
Sales taxes
Franchise taxes
Utility users tax
Other taxes
Total taxes
Motor vehicle in lieu, unrestricted
Use of money and properties
Other
Gain (loss) on sale of capital asset
Transfers
Total general revenues and transfers
Change in net position
Net position - beginning of year
Restatements
Net position - beginning of year, as restated
Net position - end of year
Program Revenues
See accompanying Notes to Basic Financial Statements.
22 Governmental Business-Type
Activities Activities Total
2,054,142$ -$ 2,054,142$ (111,593,193) - (111,593,193) 7,273,941 - 7,273,941 (8,754,563) - (8,754,563) (8,398,443) - (8,398,443) (119,418,116) - (119,418,116) - 3,974,958 3,974,958 - 872,208 872,208 - 5,407,135 5,407,135 - (11,835) (11,835) - 10,242,466 10,242,466 (119,418,116) 10,242,466 (109,175,650)
53,327,529 - 53,327,529 3,430,073 - 3,430,073 40,805,272 - 40,805,272 7,638,001 - 7,638,001 23,274,803 - 23,274,803 7,963,601 - 7,963,601 136,439,279 - 136,439,279 240,906 - 240,906 12,237,417 5,804,933 18,042,350
385,902 101,313 487,215
4,771,846 18,148 4,789,994
4,101,773 (4,101,773) -
158,177,123 1,822,621 159,999,744
38,759,007 12,065,087 50,824,094
127,066,965 161,286,102 288,353,067
3,688,250 (2,734,516) 953,734
130,755,215 158,551,586 289,306,801
169,514,222$ 170,616,673$ 340,130,895$
and Changes in Net Position
Net (Expense) Revenue
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24 FUND

FINANCIAL STATEMENTS
Governmental Fund Financial Statements
Proprietary Fund Financial Statements
Fiduciary Fund Financial Statements
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27 City of Pomona
Balance Sheet
Governmental Funds
June 30, 2025
ASSETS
Cash and investments 52,830,265$ 6,024,513$ -$ 108,350$ Receivables (net):

Accounts 4,866,845 13,500 - - Notes and loans - 11,173,384 - - Interest 767,640 56,619 - 826 Prepaid items 95,806 - 605,640 - Due from other governments 8,006,148 2,460,783 - - Due from other funds 2,068,322 - - - Advances to other funds - - - 60,330,000 Leases receivable 102,240 - - - Land held for resale - 4,359,737 - - Restricted assets:

Restricted cash and investments 3,777,752 - - 1,169,573 Cash with fiscal agent - 304,596 1,075,161 - Total assets 72,515,018$ 24,393,132$ 1,680,801$ 61,608,749$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES

Liabilities:

Accounts payable 2,933,802$ 946,677$ -$ -$ Payroll payable 2,388,455 64,561 - - Accrued liabilities - 232,220 488,597 - Deposits payable 3,618,772 28,486 - - Retentions payable - - - - Due to other funds - - 1,556,020 - Advances from other funds 304,435 - 60,330,000 - Unearned revenues 3,764 22,410 - - Total liabilities 9,249,228 1,294,354 62,374,617 - Deferred Inflows of Resources
Unavailable revenue - 1,975,956 - - Deferred inflows of resources related to leases 98,071 - - - Total deferred inflows of resources 98,071 1,975,956 - - Fund Balances:

Nonspendable:

Prepaid costs 95,806 - 605,640 - Restricted:

Development services and public works - 21,122,822 - - Public safety - - - - Neighborhood sevice - - - - Assessment district improvement - - - - Capital projects - - - - Debt service - - - 61,608,749 Parks and recreation - - - - Pension 3,766,236 - - - Committed:

Fiscal sustainability 42,423,196 - - - Catastrophic Event Reserve 600,000 - - - Unassigned 16,282,481 - (61,299,456) - Total fund balances 63,167,719 21,122,822 (60,693,816) 61,608,749 Total liabilities, deferred inflows of
resources and fund balances 72,515,018$ 24,393,132$ 1,680,801$ 61,608,749$ General
Government
Public Financing
AuthorityGeneral Fund Housing Authority
Special Revenue
Funds Debt Service Funds
See accompanying Notes to Basic Financial Statements.
28 Capital Project
Fund
Nonmajor Total
Governmental Governmental
Funds Funds
25,720,948$ 67,167,024$ 151,851,100$ 1,678,870 518,967 7,078,182 - 28,580,976 39,754,360 12,929 416,993 1,255,007 - - 701,446 4,431,135 5,124,973 20,023,039 - - 2,068,322 - 304,435 60,634,435 - - 102,240 - - 4,359,737 - - 4,947,325 372,157 - 1,751,914 32,216,039$ 102,113,368$ 294,527,107$ 10,156,137$ 3,232,353$ 17,268,969$ 56,373 331,319 2,840,708 - - 720,817 - 242,626 3,889,884 1,763,486 - 1,763,486 - 17,953 1,573,973 - - 60,634,435 - 15,820,430 15,846,604 11,975,996 19,644,681 104,538,876 4,431,135 9,685,454 16,092,545 - - 98,071 4,431,135 9,685,454 16,190,616 - - 701,446 - 41,204,493 62,327,315 - 1,481,572 1,481,572 - 24,212,471 24,212,471 - 882,033 882,033 15,808,908 - 15,808,908 - - 61,608,749 - 5,002,664 5,002,664 - - 3,766,236 - - 42,423,196 - - 600,000 - - (45,016,975) 15,808,908 72,783,233 173,797,615 32,216,039$ 102,113,368$ 294,527,107$ Capital Outlay
Capital Projects
Fund
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30 Total Fund Balances - Total Governmental Funds 173,797,615$ Capital assets used in governmental activities were not current financial resources.

Therefore, they were not reported in the Governmental Funds Balance Sheet. Except for the internal service funds reported below, the capital assets were adjusted as follows:

Government-
Wide Statement
of Net Position
Internal Service
Funds Total
Nondepreciable 160,648,553$ -$ 160,648,553 Depreciable, net 198,171,045 (373,229) 197,797,816 Total capital assets 358,819,598$ (373,229)$ 358,446,369 Internal service funds were used by management to charge the costs of certain activities, such as insurance, to individual funds. The assets and liabilities of the Internal service funds were included in governmental activities in the Government- Wide Statement of Net Position. (34,838,023)
Unavailable revenues recorded in the fund financial statements resulting from activities in which revenues were earned but were not available are reclassified as revenues in the Government-Wide Financial Statements. 16,092,545 In the Government-Wide Financial Statements, deferred employer contributions for pension and OPEB, certain differences between actuarial estimates and actual results, and other adjustments resulting from changes in assumptions and benefits are deferred in the current year.

Government-
Wide Statement
of Net Position
Internal Service
Funds
Deferred outflows of resources related to pension
31,462,227 (572,063) 30,890,164
Deferred outflows of resources related to OPEB 4,113,543 (202,811) 3,910,732 Deferred inflows of resources related to pension (144,030) 9,504 (134,526) Deferred inflows of resources related to OPEB (10,528,621) 519,097 (10,009,524) Long-term liabilities were not due and payable in the current period. Therefore, they were not reported in the Governmental Funds Balance Sheet.

Government-
Wide Statement
of Net Position
Internal Service
Funds Total
Compensated absences - due within one year (8,245,000)$ 465,604$ (7,779,396)$ Interest payable (3,186,332) - (3,186,332) Long-term debt - due within one year (12,476,273) 223,796 (12,252,477) Unamortized deferred loss on refunding (261,471) - (261,471) Unamortized deferred gain on refunding 235,061 - 235,061 Compensated absences - due in more than one year (4,999,944) 155,201 (4,844,743) Other long-term liabilities (2,778,987) - (2,778,987) Long-term debt - due in more than one year (237,098,050) 4,793,492 (232,304,558) Net pension assets 388,154 - 388,154 Net pension liability (39,011,983) 515,790 (38,496,193) Net OPEB liability (70,853,502) 3,493,314 (67,360,188) Total long-term liabilities (378,288,327)$ 9,647,197$ (368,641,130) Net Position of Governmental Activities 169,514,222$
City of Pomona
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2025
Amounts reported for governmental activities in the statement of net position are different because:

See accompanying Notes to Basic Financial Statements
31 City of Pomona
Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds
For the year ended June 30, 2025
REVENUES:

Taxes 139,452,848$ -$ -$ -$ Special assessments - - - - Licenses, permits and fees 8,567,275 - - - Intergovernmental 481,044 29,173,002 - - Charges for services 4,372,939 - - - Use of money and properties 5,569,022 746,977 317,065 3,901 Fines and forfeitures 2,975,777 - - - Miscellaneous 1,228,206 6,755 - - Total revenues 162,647,111 29,926,734 317,065 3,901 EXPENDITURES:

Current:

General government 11,908,634 - - - Public safety 115,464,659 - - - Development services 19,518,453 30,551,082 - - Neighborhood services and library 8,829,563 - - - Capital outlay 2,723,872 - - - Debt service:

Principal retirement 230,423 - 7,733,312 2,195,000 Interest and fiscal charges - - 9,258,401 - Total expenditures 158,675,604 30,551,082 16,991,713 2,195,000

REVENUES OVER (UNDER)
EXPENDITURES 3,971,507 (624,348) (16,674,648) (2,191,099) OTHER FINANCING SOURCES (USES):

Transfers in 2,878,645 122,634 18,892,163 - Transfers out (10,189,396) (1,355) (74) - Proceeds from sale of property 11,516 - - - Proceeds from loans - - - - Proceeds from SBITA 2,223,119 - - - Total other financing sources (uses) (5,076,116) 121,279 18,892,089 - Net change in fund balances (1,104,609) (503,069) 2,217,441 (2,191,099) FUND BALANCES:

Beginning of year
60,584,078 21,625,891 (62,911,257) 63,799,848 Restatement 3,688,250 - - - Beginning of year, as restated 64,272,328 21,625,891 (62,911,257) 63,799,848 End of year 63,167,719$ 21,122,822$ (60,693,816)$ 61,608,749$ General
Government
Public Financing
AuthorityGeneral Fund Housing Authority
Special Revenue
Fund Debt Service Funds
See accompanying Notes to Basic Financial Statements.
32 Capital Project
Fund
Nonmajor Total
Governmental Governmental
Funds Funds
-$ 2,322,431$ 141,775,279$ - 1,251,248 1,251,248 1,164,808 918,541 10,650,624 11,637,425 59,362,051 100,653,522 - 2,158,061 6,531,000 86,134 3,817,851 10,540,950 - - 2,975,777 - 860,201 2,095,162 12,888,367 70,690,384 276,473,562 - 5,735,355 17,643,989 1,880 3,191,817 118,658,356 1,201 27,446,179 77,516,915 - 1,002,723 9,832,286 47,712,826 590,330 51,027,028 - 59,710 10,218,445 - - 9,258,401 47,715,907 38,026,114 294,155,420 (34,827,540) 32,664,270 (17,681,858) 34,366,963 2,108,015 58,368,420 (6,129) (29,622,124) (39,819,078) 25,050 3,380 39,946 568,500 - 568,500 - - 2,223,119 34,954,384 (27,510,729) 21,380,907 126,844 5,153,541 3,699,049 15,682,064 67,629,692 166,410,316 - 3,688,250
15,682,064 67,629,692 170,098,566 15,808,908$ 72,783,233$ 173,797,615$ Capital Outlay
Capital Projects
Fund
33 City of Pomona
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Government-Wide Statement of Activities For the year ended June 30, 2025
Net Change in Fund Balances - Total Governmental Funds 3,699,049$ Governmental funds reported capital outlay as expenditures. However, in the Government-Wide Statement of Activities, the cost of those assets was allocated over their estimated lives as depreciation expense. This was the amount of capital assets recorded in the current period, net of the amount related to internal service funds. 43,203,026
Depreciation expense on capital assets was reported in the Government-Wide Statement of Activities, but did not require the use of current financial resources. Therefore, depreciation expense was not reported as expenditures in the governmental funds, net of the amount related to internal service funds. (12,035,085) Proceed from sale assets are recorded in the governmental funds but the gain or loss is recorded in the government-wide 3,864,622
Accrued compensated leave payments were reported as expenditures in the governmental funds, however expense is recognized in the Government-Wide Statement of Activities based on earned leave accruals. (2,540,639) Debt proceeds provide current financial resources to governmental funds, but issuing debt increased long- term liabilities in the Government-Wide Statement of Net Position. Repayment of debt was an expenditure in governmental funds, but the repayment reduced long-term liabilities in the Government-Wide Statement of Net Position.

Loan proceeds (568,500)
Long-term debt repayments 10,938,306
Capital appreciation bond accretion 623,846
Amortization of deferred charges 439
Amortization of bonds premium (discount), net 188,103
Accrued interest for long-term liabilities. This is the net change in accrued interest for the current period 221,534 Current year employer pension and OPEB contributions are recorded as expenditures in the governmental funds, however, these amounts are reported as a deferred outflow of resources in the Government-Wide Statement of Net Position. 13,992,557
Pension expense is reported in the Government-Wide Statement of Activities does not require the use of current financial resources, and therefore is not reported as expenditures in governmental funds. (21,910,628) OPEB expense is reported in the Government-Wide Statement of Activities does not require the use of current financial resources, and therefore is not reported as expenditures in governmental funds. 1,103,685 Unavailable revenues recorded in the fund financial statements resulting from activities in which revenues were earned but were not available are reclassified as revenues in the Government-Wide Financial Statements. 2,811,505
Internal service funds were used by management to charge the costs of certain activities, such as insurance and fleet management, to individual funds. The net revenue of the internal service funds was reported with governmental activities. (4,832,813)

Change in Net Position of Governmental Activities 38,759,007$ Amounts reported for governmental activities in the Government-Wide Statement of Activities were different because:

See accompanying Notes to Basic Financial Statements
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35 City of Pomona
Statement of Net Position
Proprietary Funds
June 30, 2025
ASSETS
Current Assets:

Cash and investments 62,911,011$ 18,251,969$ 20,058,898$ 7,441,161$ Receivables (net):

Accounts 6,905,814 1,118,402 11,016,303 170 Interest 443,079 151,561 2,186 - Prepaid items 8,859 - 499,259 - Inventories 1,362,173 - - - Restricted assets:

Restricted cash and investments - 850,945 - - Cash with fiscal agent 6,357,323 1,770,666 - - Total current assets 77,988,259 22,143,543 31,576,646 7,441,331 Noncurrent:

Advances to other funds 2,195,501 - - - Other Investments 9,000 - - - Capital assets:

Nondepreciable capital assets 50,119,393 6,008,113 - - Depreciable capital assets 190,144,185 53,608,400 - - Accumulated depreciation (92,216,325) (28,216,606) - - Capital Assets - net of accumulated depreciation 148,047,253 31,399,907 - - Total noncurrent assets 150,251,754 31,399,907 - - Total assets 228,240,013 53,543,450 31,576,646 7,441,331 DEFERRED OUTFLOWS OF RESOURCES Deferred charges on refunding - 312,312 - - Deferred outflows of resources related to pensions 1,931,841 254,568 42,218 979,120 Deferred outflows of resources related to OPEB 675,810 102,615 10,355 339,230 Total deferred outflows of resources 2,607,651 669,495 52,573 1,318,350 LIABILITIES Current liabilities:

Accounts payable 3,411,862 299,019 5,859,748 - Payroll payable 379,553 59,242 8,264 - Accrued interest 494,257 65,669 - - Deposits payable 4,653,289 - - - Retentions payable 1,643,304 1,685 - - Due to other funds - - - - Unearned revenues - (60) 57,420 - Compensated absences - current 1,225,000 141,000 23,000 - Claims and judgements - current - - - - Total OPEB liability - current 696,551 105,764 10,673 209,405 Long-term debt - current portion 2,604,814 706,256 - 138,939 Total current liabilities 15,108,630 1,378,575 5,959,105 348,344 Noncurrent liabilities:

Advances from other funds - - 2,195,501 - Compensated absences 922,954 106,567 57,889 - Claims and judgements - - - - Net pension liability 1,735,517 230,899 37,879 547,192 Total OPEB liability 10,943,900 1,661,720 167,682 3,290,082 Long-term debt 85,813,873 22,315,151 - 3,951,283 Total noncurrent liabilities 99,416,244 24,314,337 2,458,951 7,788,557 Total liabilities 114,524,874 25,692,912 8,418,056 8,136,901

DEFERRED INFLOWS OF RESOURCES
Deferred charges on refunding 2,473,817 - - - Deferred inflows of resources related to pensions 33,746 3,870 750 - Deferred inflows of resources related to OPEB 1,729,736 262,643 26,503 726,335 Total deferred inflows of resources 4,237,299 266,513 27,253 726,335

NET POSITION
Net investment in capital assets 70,690,436 10,199,661 - - Restricted 6,000,760 1,770,666 - - Unrestricted 35,394,295 16,283,193 23,183,910 (103,555) Total net position 112,085,491$ 28,253,520$ 23,183,910$ (103,555)$ Reconciliation of Net Position to the Statement of Net Position:

Net Position per Statement of Net Position - Proprietary Funds Prior years' accumulated adjustment to reflect the conslidation of internal sevice funds activities related to the enterprise funds Current years' adjustments to reflect the conslidation of internal service activities related to enterprise funds
Net Position per Statement of Net Position
Business-Type Activities
Water Sewer
Pomona Choice Energy
Authority
Nonmajor Enterprise
Funds
See accompanying Notes to Basic Financial Statements.
36 Business-Type
Activities
Governmental
Activities -
Internal Service
Totals Funds
108,663,039$ 15,582,844$
19,040,689 -
596,826 162,009
508,118 -
1,362,173 394,681
850,945 -
8,127,989 -
139,149,779 16,139,534
2,195,501 -
9,000 -
56,127,506 -
243,752,585 1,168,866
(120,432,931) (795,637)
179,447,160 373,229
181,651,661 373,229
320,801,440 16,512,763
312,312 -
3,207,747 572,063
1,128,010 202,811
4,648,069 774,874
9,570,629 334,173
447,059 119,172
559,926 -
4,653,289 -
1,644,989 -
- 494,349
57,360 -
1,389,000 465,604
- 14,049,000 1,022,393 209,036
3,450,009 223,796
22,794,654 15,895,130
2,195,501 -
1,087,410 155,201
- 19,755,861 2,551,487 515,790
16,063,384 3,284,278
112,080,307 4,793,492
133,978,089 28,504,622
156,772,743 44,399,752
2,473,817 -
38,366 9,504
2,745,217 519,097
5,257,400 528,601
80,890,097 373,229
7,771,426 -
74,757,843 (28,013,945)
163,419,366$ (27,640,716)$
163,419,366$
6,186,460
1,010,847
170,616,673$
37 City of Pomona
Statement of Revenues, Expenses and Changes in Net Position Proprietary Funds
For the year ended June 30, 2025
OPERATING REVENUES:

Charges for services 45,763,175$ 7,132,641$ 61,201,849$ 210$ Miscellaneous 32,243 67,703 - 1,367 Total operating revenues 45,795,418 7,200,344 61,201,849 1,577 OPERATING EXPENSES:

Personnel services 13,234,615 2,802,523 199,682 - Operations 21,883,045 1,807,478 55,538,016 12,045 Claims expense 3,757 33,374 - - Depreciation expense 3,415,393 596,415 - - Insurance 902,144 144,028 13,456 - Total operating expenses 39,438,954 5,383,818 55,751,154 12,045 Operating income (loss) 6,356,464 1,816,526 5,450,695 (10,468) NONOPERATING REVENUES (EXPENSES):

Investment income 3,641,562 1,191,812 922,667 48,892 Interest expense (3,318,063) (893,887) (68,335) - Gain (loss) on disposal of capital assets 17,380 768 - - Total nonoperating revenues (expenses) 340,879 298,693 854,332 48,892 Income before contributions and transfers 6,697,343 2,115,219 6,305,027 38,424 CONTRIBUTIONS AND TRANSFERS:

Transfers in 1,991,191 121,084 - - Transfers out (2,548,990) (1,181,186) - (2,483,872) Total contributions and transfers (557,799) (1,060,102) - (2,483,872) Change in net position 6,139,544 1,055,117 6,305,027 (2,445,448) NET POSITION:

Beginning of year 107,913,983 27,583,403 16,878,883 155,099,642 Restatements (1,968,036) (385,000) - (381,480) Beginning of year, as restated 105,945,947 27,198,403 16,878,883 154,718,162 End of year 112,085,491$ 28,253,520$ 23,183,910$ 152,272,714$ Reconciliation of Changes in Net Position to the Statement of Activities:

Changes in Net Position, per the Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds Adjustment to reflect the conslidation of current fiscal year internal service funds activities related to enterprise funds Changes in Net Position of Business-Type Activities per Statement of Activities Business-Type Activities
Water Sewer
Pomona Choice Energy
Authority
Nonmajor Enterprise
Funds
See accompanying Notes to Basic Financial Statements.
38 Business-Type
Activities Governmental
Activities -
Internal Service
Totals Funds
114,097,875$ 78,697,843$
101,313 649,733
114,199,188 79,347,576
16,236,820 50,784,775
79,240,584 3,855,743
37,131 14,750,747
4,011,808 49,959
1,059,628 -
100,585,971 69,441,224
13,613,217 9,906,352
5,804,933 889,268
(4,280,285) (171,917)
18,148 1,900
1,542,796 719,251
15,156,013 10,625,603
2,112,275 637,998
(6,214,048) (15,085,567)
(4,101,773) (14,447,569)
11,054,240 (3,821,966)
307,475,911 (23,818,750)
(2,734,516) -
304,741,395 (23,818,750)
315,795,635$ (27,640,716)$
11,054,240$
1,010,847
12,065,087$
39 City of Pomona
Statement of Cash Flows
Proprietary Funds
For the year ended June 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers and users 45,805,597$ 7,235,575$ 61,263,696$ (115,086)$ Cash paid to suppliers for goods and services (21,055,590) (1,581,175) (56,943,838) (12,074) Cash paid for general and administrative expenses (12,320,879) (1,900,838) (248,441) (744) Net cash provided by (used in) operating activities 12,429,128 3,753,562 4,071,417 (127,904) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:

Cash transfers in 1,991,191 121,084 - - Cash transfers out (2,548,990) (1,181,186) - (2,483,872) Repayment made (to) from other funds 3,158,747 - (3,158,747) - Net cash provided by (used in) noncapital financing activities 2,600,948 (1,060,102) (3,158,747) (2,483,872) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:

Acquisition and construction of capital assets (2,241,169) (1,335,411) - - Principal paid on capital debt (2,704,556) (640,000) - - Interest paid on capital debt (3,495,807) (925,319) (68,335) - Proceeds from sales of capital assets 17,380 768 - - Net cash provided by (used in)
capital and related financing activities (8,424,152) (2,899,962) (68,335) - CASH FLOWS FROM INVESTING ACTIVITIES:

Interest received (loss) 3,478,138 1,172,953 925,839 48,892 Net cash provided by (used in) investing activities 3,478,138 1,172,953 925,839 48,892 Net cash flows 10,084,062 966,451 1,770,174 (2,562,884) CASH AND INVESTMENTS - Beginning of year, as restated 59,184,272 19,907,129 18,288,724 10,004,045 CASH AND INVESTMENTS - End of year 69,268,334$ 20,873,580$ 20,058,898$ 7,441,161$

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

Operating income (loss) 6,356,464$ 1,816,526$ 5,450,695$ (10,468)$ Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities:

Depreciation 3,415,393 596,415 - - (Increase) decrease in accounts receivable (120,597) 35,231 4,427 13,081 (Increase) decrease in prepaid expense 141 - 336,366 - (Increase) decrease in inventories (578,499) - - - (Increase) decrease in deferred outflows of resources related to pensions 1,552,909 228,072 33,417 - (Increase) decrease in deferred outflows of resources related to other post employement benefits (19,645) (45,782) 5,145 - Increase (decrease) in accounts payable 1,405,813 226,303 (1,742,188) (29) Increase (decrease) in payroll payable 71,412 14,579 1,221 (744) Increase (decrease) in unearned revenue - - 57,420 (129,744) Increase (decrease) in deposits payable 130,776 - - - Increase (decrease) in claims and judgements - - - - Increase (decrease) in compensated absences 578,309 115,606 41,887 - Increase (decrease) in net OPEB liability 949,028 848,800 (72,195) - Increase (decrease) in net pension liability (1,047,190) (166,252) (24,359) - Increase (decrease) in deferred inflows of resources related to pensions (96,093) (14,113) (2,068) - Increase (decrease) in deferred inflows of resources related to OPEB (169,093) 98,177 (18,351) - Net cash provided by (used in) operating activities 12,429,128$ 3,753,562$ 4,071,417$ (127,904)$ Nonmajor
Enterprise Funds
Business-Type Activities
Water Sewer
Pomona Choice
Energy Authority
See accompanying Notes to Basic Financial Statements.
40 Business-Type
Activities
Governmental
Activities -
Internal Service
Totals Funds
114,189,782$ 79,372,956$
(79,592,677) (15,055,042)
(14,470,902) (50,139,588)
20,126,203 14,178,326
2,112,275 637,998
(6,214,048) (15,085,567)
- 93,573
(4,101,773) (14,353,996)
(3,576,580) (225,453)
(3,344,556) (210,336)
(4,489,461) (171,917)
18,148 1,899
(11,392,449) (605,807)
5,625,822 871,847
5,625,822 871,847
10,257,803 90,370
107,384,170 15,492,474
117,641,973$ 15,582,844$
13,613,217$ 9,906,352$
4,011,808 49,959
(67,858) 25,380
336,507 -
(578,499) 22,704
1,814,398 479,668
(60,282) (11,645)
(110,101) (14,117)
86,468 20,652
(72,324) -
130,776 -
- 3,542,861
735,802 166,759
1,725,633 403,194
(1,237,801) (349,653)
(112,274) (29,682)
(89,267) (34,106)
20,126,203$ 14,178,326$
41 This page intentionally left blank
42 City of Pomona
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2025
Private Purpose
Trust Fund
Successor
Custodial Agency of the
Funds Former RDA
ASSETS
Cash and investments 121,794$ 8,407,120$ Receivables:

Accounts 619,220 -
Notes and loans - 1,660,600 Deposits - 600
Due from other governments 39,890 - Land held for resale - 470,303 Restricted assets:

Cash with fiscal agent - 20,153,276 Capital assets:

Nondepreciable - 125,423 Depreciable, net - 36,613 Total assets 780,904 30,853,935
Deferred Outflows of Resources
Deferred charge on refunding - 380,819 Total Deferred Outflows of Resources - 380,819

LIABILITIES

Accounts payable 645,100 3,550
Payroll payable - 7,458
Accrued interest - 1,340,800 Deposits payable - 169,040 Long-term liabilities:

Compensated absences - current -
Compensated absences - noncurrent - 66,102 Long-term debt - due within one year - 12,392,047 Long-term debt - due in more than one year - 131,847,159 Total liabilities 645,100 145,826,156

NET POSITION
Restricted for:

Individuals, organizations, and other governments 135,804 (114,591,402) Total Net Position 135,804$ (114,591,402)$ See accompanying Notes to Basic Financial Statements.
43 City of Pomona
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the year ended June 30, 2025
Private Purpose
Trust Fund
Successor
Custodial Agency of the
Funds Former RDA
ADDITIONS:

Collection of special taxes 862,814$ 12,191,069$ Interest - 930,555
Contributions from City - 145,922 Gain on loan forgiveness - 6,849 Intergovernmental 1,316,424 -
Total additions 2,179,238 13,274,395
DEDUCTIONS:

Refunds on contributions 862,451 -
Administrative expenses - 1,292,437 Contractual services 58,502 519,513 Neighborhood services and library 1,316,424 - Interest expense - 4,506,771 Depreciation expense - 1,263 Payments to City - 1,239,450 Total deductions 2,237,377 7,559,434
Change in net position (58,139) 5,714,961 NET POSITION:

Beginning of year 5,990 (120,306,363) Restatements 187,953 -
Beginning of year, as restated 193,943 (120,306,363) End of year 135,804$ (114,591,402)$
See accompanying Notes to Basic Financial Statements.
44 NOTES TO BASIC

FINANCIAL STATEMENTS

45 This page intentionally left blank.

46 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The basic financial statements of the City of Pomona, California (the “City”), have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as applied to governmental agencies. The Governmental Accounting Standards Board (the “GASB”) is the accepted standard setting body for establishing governmental accounting and financial reporting principles.

The more significant of the City’s accounting policies are described below.

A. The Financial Reporting Entity

The City was incorporated in 1888 and became a “Charter Law” City in 1911 under the laws of the State of California. The City operates under the Council – Manager form of governments. The City principally provides general administrative services, public safety services, library, recreational services, street, highway and bridge repairs and maintenance, and water and sewer services.

As required by U.S. GAAP, these basic financial statements present the City and its component units, entities for which the City is considered to be financially accountable. The following blended component units, although legally separate entities, are, in substance, part of the City’s operations and data from these units are combined with the data of the City. They are reported as blended for the following reasons:
(1) the governing board is substantively the same as the primary government, and there is a financial benefit or burden relationship between the primary government and the component unit; (2) the component unit provides services entirely, or almost entirely, to the primary government or otherwise exclusively, or almost exclusively, benefits the primary government even though it does not provide services directly to it; and (3) the component unit’s total debt outstanding, including leases, is expected to be repaid entirely or almost entirely with the resources of the primary government.

Management determined that the following component units should be blended based on the criteria above. These component units are included in the primary government because of the fiscal dependence and financial benefit/burden relationship. Each of the blended component units in the accompanying basic financial statements of the City are described below:

City of Pomona Housing Authority - The City of Pomona Housing Authority (the “Housing Authority”) was organized in 1993 under the California Health and Safety Code. The objective of the Housing Authority is to aid low-income families in obtaining decent, safe, and sanitary housing through Federal assistance programs and low/moderate income housing programs. The Housing Authority was included within the scope of the reporting entity of the City because its governing body is composed in its entirety of City staff and the City has operational responsibility for the Housing Authority. The Housing Authority is blended in as a special revenue fund based on the criteria discussed above.

47 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued A. The Financial Reporting Entity, Continued

City of Pomona Public Financing Authority - The City of Pomona Public Financing Authority (the “Authority”) is a joint exercise of powers authority created by a joint powers agreement between the City, the former Redevelopment Agency of the City of Pomona (the “Agency”) and the former Redevelopment Agency of the City of West Covina, dated October 27, 1988. The purpose of the Authority is to provide, through the issuance of debt, financing necessary for the construction of public improvements. The Authority is not subject to federal or state income taxes. The Authority was included within the scope of the reporting entity of the City because its governing body is composed in its entirety of City staff and the City has operational responsibility for the Authority. The Authority is blended in as a debt service fund based on the criteria discussed above.

All component units had a fiscal year ended June 30, 2025, except for Canon Water Company, which had a fiscal year ended February 28, 2025.

The component units listed above issue separate financial statements which can be obtained at City Hall and online at www.pomonaca.gov.

B. Financial Statements Presentation, Basis of Accounting and Measurement Focus The accounts of the City are organized on the basis of funds, each of which is considered a separate account entity. The operations of each fund are accounted for by providing a separate set of self-balancing accounts that comprise its assets, liabilities, fund balance, revenues and expenditures or expenses, as appropriate. Governmental resources are allocated to and accounted for in individual funds based upon the purpose of which they are to be spent and means by which spending activities are controlled.

Government – Wide Financial Statements - The City’s government-wide financial statements include a Statement of Net Position and a Statement of Activities. These statements present summaries of governmental and business-type activities for the City accompanied by a total column. Fiduciary activities of the City are not included in these statements.

48 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Financial Statements Presentation, Basis of Accounting and Measurement Focus, Continued These basic financial statements are presented on an “economic resources” measurement focus and the accrual basis of accounting. Economic resources measurement focus considers all of the assts available for the purpose of providing goods and services and reports all inflows, outflows, and balances affecting or reflecting an entity’s net position. Accordingly, all of the City’s assets and liabilities, including capital assets, as well as infrastructure assets and long-term liabilities, are included in the accompanying Statement of Net Position. The Statement of Activities presents changes in net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned, and expenses are recognized in the period in which the liability is incurred.

Certain types of transactions are reported as program revenues for the City in three categories:
 Charges for services
 Operating grants and contributions
 Capital grants and contributions
Certain eliminations have been made in regard to interfund activities. All internal balances in the Statement of Net Position have been eliminated except those representing balances between the governmental activities and the business-type activities, which are presented as internal balances and eliminated in the total primary government column, if any. In the Statement of Activities, internal service fund transactions have been eliminated; however, those transactions between governmental and business-type activities have not been eliminated. The following interfund activities have been eliminated:
 Due to and from other funds
 Advances to and from other funds
 Transfers in and out
Governmental Fund Financial Statements - Governmental fund financial statements include a Balance Sheet and a Statement of Revenues, Expenditures and Changes in Fund Balances for all major governmental funds and nonmajor governmental funds aggregated. An accompanying schedule is presented to reconcile and explain the differences in fund balance as presented in these statements to the net position presented in the government – wide financial statements. The City has presented all major funds that met the applicable criteria.

All governmental funds are accounted for on a spending or “current financial resources” measurement focus and the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on the balance sheets. The Statement of Revenues, Expenditures and Changes in Fund Balances present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period.

49 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Financial Statements Presentation, Basis of Accounting and Measurement Focus, Continued Revenues are recognized as soon as they are both “measurable” and “available.” Revenues are considered to be available when it is collectible within the current period as soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if it is collected within 60 days of the end of the current fiscal period except for grant revenue where the government considers revenue to be available if collected within 120 days of the end of current fiscal year. The primary revenue sources, which have been treated as susceptible to accrual by the City, are real and personal property tax, other local taxes, franchise fees, forfeitures and penalties, rents and concessions, interest revenue, and state and federal grants. Expenditures are recorded in the accounting period in which the related fund liability is incurred.

Unavailable revenue arises when potential revenues do not meet the “available” criteria for recognition in the current period. Unearned revenue arises when the government receives resources before it has legal claim to it, as when grant monies are received prior to incurring qualifying expenditures or when prepaid charges are received for services. In subsequent periods when both revenue recognition criteria are met or when the government has a legal claim to the resources, the unavailable revenue and unearned revenue are removed from the balance sheet and revenue is recognized.

The reconciliations of the Fund Financial Statements to the Government – Wide Financial Statements are provided to explain the differences.

The City reports the following major governmental funds:

The General Fund is the City’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.

The Housing Authority Special Revenue Fund accounts for grant revenues received for the acquisition, rehabilitation and administration of properties used to provide affordable rental housing and the low and moderate income housing functions of the former Redevelopment Agency.

The General Government Debt Service Fund accounts for the payment of interest and principal on debt incurred by the City.

The Public Financing Authority Debt Service Fund accounts for the payment of interest and principal on the local agency revenue bonds and other debt of the Authority.

The Capital Outlay Capital Projects Fund accounts for accumulation of the cost of capital projects.

50 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

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

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 presents increase (revenues) and decreases (expenses) in total net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred.

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

The City reports the following major proprietary funds:

The Water Enterprise Fund accounts for activities associated with the distribution and transmission of portable water to users and recycled water.

The Sewer Enterprise Fund accounts for the operation and maintenance of the City’s sewer network.

The Pomona Choice Energy Authority accounts for the activities aimed to reduce energy usage.

The Internal Service Funds account for the maintenance and repair of City vehicles and equipment, risk management (general liability workers’ compensation and unemployment), innovation & technology and printing/mailing service provided to other departments or agencies of the City.

51 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Financial Statements Presentation, Basis of Accounting and Measurement Focus, Continued Fiduciary Fund Financial Statements

Fiduciary fund financial statements include a Statement of Fiduciary Net Position and a Statement of Changes in Fiduciary Net Position. The City’s fiduciary funds consist of one private purpose trust fund and custodial funds. Fiduciary fund types are accounted for using the “economic resources” measurement focus and the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized in the period which the revenue is earned, which expenses are recognized in the period in which the liability is incurred.

The City uses its private-purpose trust fund to account for the assets and liabilities of the former Redevelopment Agency and the receipt of funds to make installment payments of enforceable obligations until the obligations of the former Redevelopment Agency are paid in full and assets have been liquidated.

The Custodial Funds account for assets held by the City for other governments. These funds include receipts and disbursements of funds for the debt service activity of the 1911 Act assessment districts.

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

Highly liquid market investments with maturities of one year or less at time of purchase are stated at amortized cost. All other investments are reported at fair value.

Certain disclosure requirements, if applicable, are provided for deposit and investment risk in the following areas:
 Interest Rate Risk
 Credit Risk
 Overall
 Custodial Credit Risk
 Concentration of Credit Risk
 Foreign Currency Risk
The City operated an internal cash management pool where the proprietary funds do not own specific identifiable securities in the City’s pool. For purposes of the statement of cash flows, the proprietary funds report the investments at the amortized cost and considered as cash equivalents.

52 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued D. Cash and Investment with Fiscal Agents and Restricted Cash and Investments Cash and investments with fiscal agents and restricted cash and investments are restricted due to limitations on their use by bond covenants or donor limitations. Fiscal agents acting on behalf of the City hold investment funds arising from the proceeds of long-term debt issuance. The funds may be used for specific purposes of for the payment of certain bonds and have been invested only as permitted by specific State statues, applicable City ordinance, resolution, or bond indentures.

E. Fair Value Measurement
U.S. GAAP defines fair value, establishes a framework for measuring fair value and establishes disclosures about fair value measurement. Investments, unless otherwise specified, recorded at fair value in the financial statements, are categorized based upon the level of judgement associated with the inputs used to measure their fair value.

The three levels of the fair value measurement hierarchy are described below:
 Level 1 – Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date.
 Level 2 – Inputs, other than quoted prices included in Level 1, that are observable for the assets of liabilities through corroboration with market data at the measurement date.  Level 3 – Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the assets or liabilities at the measurement date.

F. Interfund Transactions
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as “due to/from other funds” (i.e., current portion of interfund loans) or “advances to/from other funds” (i.e., noncurrent portion of interfund loans). Any residual balances outstanding between the governmental activities and business-type activities are reported in the governmental – wide financial statements as “internal balances.” G. Inventories and Prepaid Items
Inventories within the various fund types consist of materials and supplies which are valued at cost on a first-in, first-out basis. Purchase of supplies have been reported based on consumption method to recognize inventory-related expenditures.

Certain payments to vendors reflect cost applicable to future accounting periods and are recorded as prepaid items in both government – wide and fund financial statements, such as prepaid bond insurance.

H. Land Held for Resale
Land purchased for resale is reported at lower of acquisition costs or net realizable value.

53 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued I. Capital Assets
Capital assets, which include land, construction in progress, buildings and improvements, improvements other than buildings, machinery and equipment, autos, and trucks, equipment under capitalized lease and infrastructure assets (e.g., roads, bridges, traffic signals, and similar items), are reported in applicable governmental or business-type activities in the Government – Wide Financial Statements. City policy has set the capitalization threshold for reporting capital assets at $25,000 for federal funds and $25,000 for other funds and capital projects at $250,000.

Capital assets are valued at historical cost or estimated historical cost if actual historical cost was not available. Donated assets are valued at acquisition value on the date donated.

Depreciation is reported on a straight-line basis over estimated useful lives of the assets as follows:

For infrastructure systems, the City elected to use the basic approach for infrastructure reporting.

The City defines infrastructure as the basic physical assets that allow the City to function. The assets include streets, bridges, sidewalks, drainage systems, and lighting systems, etc. Each major infrastructure system can be divided into subsystems. For example, the street system can be subdivided into pavement, curb and gutters, sidewalks, medians, streetlights, and landscaping and land. These subsystems were not delineated in the basic financial statements. The appropriate operating department maintains information regarding the subsystems.

Major outlays for capital assets and improvements are capitalized as projects are constructed.

The long-term principal portion of debt on non-proprietary capital assets acquired through lease purchase contracts is accounted for in the government – wide financial statements as “Finance purchase obligations”. Capital assets acquired under capital leases are capitalized at the net present value of the total lease payments in the government – wide financial statements.

J. Long-Term Debt
In the government–wide financial statements and proprietary fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities, or proprietary fund type statement of net position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the effective interest method.

Assets Years
Building and building improvements 10-50
Improvements other than buildings 10-75
Infrastructure 10-75
Machinery and equipment 5-100
Equipment under capitalized lease 5-15
Furniture and fixtures 10
Autos and trucks 5-10
54 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued J. Long-Term Debt, Continued
Bonds payable are reported net of the applicable bond premium or discount. Issuance costs, whether or not withheld from the actual debt proceeds received, are expensed when incurred.

In the fund financial statements, governmental funds types recognize bonds premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing used. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as expenditures.

K. Compensated Absences
Compensated absences are recorded in accordance with GAAP. Only vested or accumulated compensated absences that are expected to be due or mature are reported as an expenditure and fund liability of the governmental fund that will pay it. A liability for these amounts is reported in governmental funds only if they have matured, for example, as a result of employee resignations and retirements. Amounts of vested or accumulated compensated absences that are not expected to be liquidated with expendable available financial resources are reported in the governmental activities of the Government-Wide Financial Statement. Vested or accumulated compensated absences of proprietary funds are recorded as an expense and liability of those funds as the benefits accrue to employees.

All employees currently earn a combined annual leave in lieu of vacation and sick leave, in an amount determined by their representing labor group or contract. Management employees receive ten days of management leave annually, which does not carry over. Overtime may be accrued by non-management employees as compensatory time. Some employees retain sick leave banks earned prior to the annual leave implementation. It is City policy that an employee may carry over accrued vacation and sick leave into the following calendar year. Upon termination, employees are entitled to a lump-sum payment for accrued annual leave hours and compensatory time.

Sick leave is deemed to be vested upon minimum PERS retirement age. Accumulated vested sick leave is paid according to the Memorandum of Understanding covering each employee. A liability for these amounts is reported in governmental funds only if they have matured, for example, as a result of employee resignations and retirements.

In accordance with GASB Statement No. 101, Compensated Absences, the City recognizes a liability for compensated absences for leave time that (1) has been earned for services previously rendered by employees, (2) accumulates and is allowed to be carried over to subsequent years, and (3) is more likely than not to be used as time off or settled (for example paid in cash to the employee or payment to an employee flex spending account) during or upon separation from employment. The liability includes vacation leave and sick leave expected to be used or paid upon termination, retirement, or death. The City uses the first-in, first-out (FIFO) method to estimate the amount of compensated absences expected to be used or paid.

55 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued L. Claims Payable
The City records a liability to reflect an actuarial estimate of ultimate uninsured losses for both general liability claims (including property damage claims) and workers’ compensation claims. The estimated liability for workers’ compensation claims and general liability claims includes “incurred but not reported” (IBNR) claims. There is no fixed payment schedule to pay these liabilities.

M. Deferred Outflows of Resources and Deferred Inflows of Resources In addition to assets, the Statement of Net Position and Balance Sheets report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets or fund balance that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the Statement of Net Position and Balance Sheets report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets or fund balance that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

N. Pensions
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the plans and additions to/deductions from the plans’ fiduciary net position have been determined on the same basis as they are reported by the plans. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with benefit terms.

Investments are reported at fair value.

The following timeframes are used for pension reporting:

CalPERS
Valuation Date June 30, 2023
Measurement Date June 30, 2024
Measurement Period July 1, 2023 to June 30, 2024
Collateral Benefits Plan
Valuation Date June 30, 2024
Measurement Date June 30, 2025
Measurement Period July 1, 2023 to June 30, 2025
56 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued N. Pensions, Continued
Gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time. The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and inflows of sources related to pensions and are to be recognized in future pension expense. The amortization period differs depending on the source of the gain or loss. The difference between projected and actual earnings is amortized over five years. All other amounts are amortized straight-line over the average expected remaining service lives of all members that are provided with benefits (active, inactive, and retired) as of the beginning of the measurement period.

O. Other Post – Employment Benefits (“OPEB”)
For the purpose of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s OPEB Plan and additions to/deductions from the OPEB Plan’s fiduciary net position have been determined on the same basis as they are reported by the Plan. For this purpose, the OPEB Plan recognizes benefit payments when due and payable in accordance with the benefit terms.

The following timeframes are reported OPEB reporting:

Gains and losses related to changes in total OPEB liability are recognized in OPEB expense systematically over time. The first amortized amounts are recognized in OPEB expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to OPEB and are to be recognized in future OPEB expense. The gains and losses are amortized on a straight-line basis over the average expected remaining service lives of all members.

P. Net Position
In the government – wide financial statements, net position is classified in the following:

Net Investment in Capital Assets – This amount consists of capital assets net of accumulated depreciation and reduced by outstanding debt and related deferred outflows and inflows of resources that is attributed to the acquisition, construction, or improvement of the assets, net of unspent debt proceeds.

Restricted – This amount is restricted by external creditors, grantors, contributors, or laws of regulations of other governments.

Unrestricted – This amount is all net position that does not meet the definition of “net investment in capital assets” or “restricted net position.”

Valuation Date January 1, 2024
Measurement Date December 31, 2024
Measurement Period January 1, 2024 to December 31, 2024 57 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued P. Net Position, Continued
When expenses are incurred for purposes for which both restricted and unrestricted net position are available, the City’s policy is to apply restricted net position first, then unrestricted net position as they are needed.

Q. Fund Position
In the fund financial statements, governmental funds report the following fund balance classification:

Non-spendable – This includes amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact.

Restricted – This includes amounts that are constrained on the use of resources by either (a) external creditors, grantors, contributors, or laws of regulations of other governments or (b) by law through constitutional provisions or enabling legislation.

Committed – This includes amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the government’s highest authority. The City Council, as a City’s highest level of decision-making authority, may commit fund balance for specific purposes pursuant to constraints imposed by resolution. These committed amounts cannot be used for any other purpose unless the City Council removes or changes the specified use through the same type of formal action taken to establish the commitment. City Council action to commit fund balance needs to occur within the fiscal reporting period; however, the amount can be determined subsequently.

The City adopted Resolution 2023-06 approving the City’s Consolidated Fiscal policies, which established a Committed Fund Balance – Fiscal Sustainability goal of 24% of General Fund expenditures including transfers out, for fiscal year 2024-25.

Assigned – This includes amounts that are constrained by the government’s intent to be used for specific purposes but are neither restricted nor committed. City Council adopted Resolution No. 2023-06 gives the Finance Director authority to assign amounts for specific purposes, such as encumbrances.

Unassigned – This is the residual amounts that have not been restricted, committed, or assigned to specific purposes. Only the General Fund can report positive unassigned fund balance. All other funds’ fund balances have been restricted, committed, or assigned for the purpose of those particular funds.

City Council adopted Resolution 2023-06 authorized the City Manager to allocate up to 50% of the unassigned fund balance to reduce long term obligations, such as unfunded pension or OPEB liability or other debt and up to 50% of the unassigned fund balance to allocate towards facility, infrastructure or other capital needs.

58 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued Q. Fund Position, Continued
When an expenditure is incurred for purposes for which both restricted and unrestricted fund balances are available, the City’s policy is to apply restricted fund balance first. Further, when the components of unrestricted fund balance can be used for the same purpose, the City uses the unrestricted resources in the following order: committed, assigned, and unassigned.

R. Use of Estimates
The preparation of the basic 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.

S. Property Taxes
Property taxes attach a legally enforceable lien on property as of January 1. Taxes are levied on July 1 and are payable in two installments by December 10 and April 10. The County of Los Angeles (the “County”) bills and collects the property taxes and remits it to the City in installments during the year. The City’s property tax revenues are recognized when an enforceable legal lien is attached to the property. The County is permitted by State Law (Proposition 13) to levy taxes at 1% of full market value (at time of purchase) and can increase the property tax base not more than 2% per year. The City receives a share of this basic levy proportionate to the amount received prior to the passage of Proposition 13 in 1978.

T. Implementation of New Accounting Standards
During the year ended June 30, 2025, the City implemented the following new accounting standards issued by the Governmental Accounting Standards Board (GASB):
 GASB Statement No. 101, Compensated Absences – The primary objective of this Statement is to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences. That objective is achieved by aligning the recognition and measurement guidance under a unified model and by amending certain previously required disclosures. The City adopted this statement for the year ending June 30, 2025.  GASB Statement No. 102, Certain Risk Disclosures – The primary objective of this Statement is to provide users of government financial statements with essential information about risks related to a government’s vulnerabilities due to certain concentrations or constraints. The City adopted this statement for the year ending June 30, 2025.

59 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

2. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
A. Deficit Fund Balance or Net Positions
At June 30, 2025, the following funds had deficit fund balance/net position:

The General Government Debt Service Fund deficit is due to issuance of debt. The Self-Insurance Fund deficit is due to increasing actuarial estimates for incurred but not reported claims. The Equipment Maintenance Fund and the Information Technology Fund deficits are due to the net pension liabilities and the net OPEB liabilities. The Payroll and Printing/Mailing Services Fund deficit is due to not charging sufficient amounts from user funds. The City will eliminate the internal service deficit with future charges to user departments. The Successor Agency of Former RDA will be recovered by future Redevelopment Property Tax Trust Fund revenue approved in the Recognized Obligation Payment Schedule.

3. CASH AND INVESTMENTS
The City maintains a cash and investment pool, which includes cash balances and authorized investments of all funds. This pooled cash is invested by the City Treasurer to enhance earnings. The pooled interest earned is allocated to the funds based on average quarter-end cash balances of various funds.

The following is a summary of cash and investments at June 30, 2025:

Major Governmental Funds:

General Government Debt Service Fund (60,693,816)$
Internal Service Funds
Self-Insurance (23,343,419)
Equipment Maintenance (2,050,672)
Information Technology (1,734,765)
Printing/Mailing Services (23,458)
Payroll (488,404)
Proprietary Funds
Refuse (103,555)
Fiduciary Funds
Successor Agency of the Former RDA (114,591,402)
Governmental
Activities
Business-Type
Activities
Fiduciary
Funds Total
Cash and Investments 167,433,944$ 108,663,039$ 8,528,914$ 284,625,897$ Restricted Cash and Investments 6,699,239 8,978,934 20,153,276 35,831,449 Total 174,133,183$ 117,641,973$ 28,682,190$ 320,457,346$ 60 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

3. CASH AND INVESTMENTS, Continued
Cash and Investments is comprised of the following at June 30, 2025:

A. Demand Deposits
The carrying amounts of the City’s cash deposits were $40,866,073 at June 30, 2025. Bank balances at June 30, 2025, were $44,174,979 which were fully insured or collateralized with securities held by the pledging financial institutions in the City’s name as discussed below. The $3,308,906 difference represents outstanding checks, deposits in transits, and other reconciling items.

The California Government Code requires California banks and savings and loan associations to secure the City’s cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest in such collateral superior to those of a general creditor. Thus, collateral for cash deposits is considered to be held in the City’s name. The market value of pledged securities must equal at least 110% of the City’s cash deposits. California law also allows institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the City’s total cash deposits. The City may waive collateral requirements for cash deposits, which are fully insured up to $250,000 by Federal Deposit Insurance Corporation (“FDIC”). The City has waived the collateralization requirements.

The City follows the practice of pooling cash and investments of all funds, except for funds required to be held by fiscal agents under provisions of bond indentures. Interest income earned on pooled cash and investments is allocated to the various funds based on the quarter-end cash and investment balances.

Interest income from cash and investments with fiscal agents is credited directly to the related fund.

B. Investments Authorized by the California Government Code and the City’s Investment Policy The table on the following page identifies the investment types that are authorized for the City by the California Government Code Section 53601 (or the City’s investment policy, where more restrictive). The table also identifies certain provisions of the California Government Code (or the City’s investment policy, where more restrictive) that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustee that are governed by the provisions of debt agreements of the City, rather than the general provisions of the California Government Code or the City’s investment policy.

Petty cash and change funds 9,912$
Demand deposits 40,866,073
Cash held in trust 44,056
Total Cash 40,920,041$
Investments 249,339,796$
Investments with fiscal agent 30,197,509
Total Investments 279,537,305
Total Cash and Investments 320,457,346$
61 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

3. CASH AND INVESTMENTS, Continued
B. Investments Authorized by the California Government Code and the City’s Investment Policy, Continued

C. Investments Authorized by Debt Agreement
Investments of debt proceeds held by bond trustee are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the City’s Investment policy.

Investments authorized for funds held by bond trustee include, Federal securities, Federal Agency securities, U.S. Government Sponsored Enterprise securities, money market funds, certificate of deposit collateralized by Federal or Federal Agency securities or fully Insured by Federal Deposit Insurance Corporation, investment agreements, commercial papers, bonds or notes issued by any state or municipality, federal funds or bankers acceptances with maximum term of one year, repurchase agreements, pre-refunded municipal bonds rated “AAA”, Local Agency Investment Fund of the State of California, and any other investments permitted in writing by the Insurer. There were no limitations on the maximum amount that can be invested in one issuer, maximum percentage allowed or the maximum maturity of an investment, except noted otherwise.

Maximum
Maturity
Maximum Percentage
Allowed
Maximum Investment
in One Issuer
City of Pomona bonds 5 years No Limit N/A
U.S. Treasury obligations 5 years No Limit N/A
U.S. Agency or U.S. government - sponsored
enterprise obligations 5 years No Limit N/A
California and local agency obligations 5 years No Limit N/A Other State and local agency obligations 5 years 15% N/A Medium-term notes 5 years 30% surplus funds
Bankers' acceptance 180 days 40% 5%
Commercial Paper 270 days 40% 10%
Negotiable certificates of deposit 5 years 15% 3%*
Time deposits 5 years 10% $250,000
Savings accounts 5 years 10% N/A
Money market mutual funds N/A 15% N/A
Repurchase agreements 92 DAYS 20% N/A
Local Agency Investment Fund (LAIF) N/A No Limit $75,000,000 Local Government Investment Pool (LGIP) N/A 20% N/A
Supranational 5 years 30% N/A
Pass-Through Securities 5 years 20% N/A
*Certificate of deposit guaranteed by FDIC is limited to $250,000 per issuer. 62 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

3. CASH AND INVESTMENTS, Continued
D. Fair Value Measurement Disclosure
The City categorizes its fair value measurement within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on relative inputs used to measure the fair value of the investments. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

The three levels of the fair value hierarchy are described as follows:

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets in active markets that the City has the ability to access.

Level 2: Inputs to the valuation methodology include:
 Quoted prices for similar assets in active markets;
 Quoted prices for identical or similar assets in inactive markets;  Inputs other than quoted prices that are observable for the asset;  Inputs that are derived principally from or corroborated by observable market data correlation or other means.

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Unobservable inputs reflect the City’s own assumptions about the inputs market participants would use in pricing the asset (including assumptions about risk). Unobservable inputs are developed based on the best information available in the circumstances and may include the City’s own data.

63 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

3. CASH AND INVESTMENTS, Continued
D. Fair Value Measurement Disclosure, Continued
At June 30, 2025, investments are reported at fair value. The following table presents the fair value measurement of investments on a recurring basis and the levels within GASB 72 fair value hierarchy in which the fair value measurements fall at June 30, 2025:

E. Risk Disclosures
Interest Rate Risk
As means of limiting its exposure to fair value losses arising from rising interest rates, the City’s investment policy (Policy) limits investments to a maximum maturity of five years. The weighted average days to maturity of the total portfolio shall not exceed the City’s anticipated liquidity needs for the next six (6) months. The City is in compliance with this provision of the Policy.

Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant Other
Observable
Inputs (Level 2) Uncategorized Total
Investments
Local Agency Investment Fund -$ -$ 33,893,253$ 33,893,253$ U.S. Treasury Obligations - 79,186,736 - 79,186,736 Municipal Bond - 829,466 - 829,466 U.S. Agency Securities - 28,186,295 1,011,940 29,198,235 Money Market Mutual Funds 2,016,700 - 2,016,700 Supranational - 11,239,862 - 11,239,862 Corporate - 50,573,637 - 50,573,637 Commercial Paper - 905,793 - 905,793 Pass-Through Securities - 37,729,879 - 37,729,879 PARS Pension Plan Investment - - 3,766,236 3,766,236 Investments with Fiscal Agent
Money Market Mutual Funds 29,995,588 - - 29,995,588 U.S. Treasury Obligations - 201,920 - 201,920 Total 29,995,588$ 210,870,288$ 38,671,429$ 279,537,305$ Measurement Input
64 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

3. CASH AND INVESTMENTS, Continued
E. Risk Disclosures, Continued
Interest Rate Risk, Continued
At June 30, 2025, the City had the following investment maturities:

Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligations to the holder of the investment. The City’s investment policy provides that this risk be mitigated by investing in investment grade securities and by diversifying the investment portfolio. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. At June 30, 2025, the City’s investments are rated as following:

1 Year or Less 1 to 3 Years 3 to 5 Years Over 5 Years Total Investments
Local Agency Investment Fund 33,893,253$ -$ -$ -$ 33,893,253$ U.S. Treasury Obligations 30,260,240 35,481,435 13,445,061 - 79,186,736 U.S. Agency Securities 9,681,804 14,705,673 4,810,758 - 29,198,235 Municipal Bond - - 829,466 - 829,466 Money Market Mutual Funds 2,016,700 - - - 2,016,700 Supranatural - 6,100,251 5,139,611 - 11,239,862 Corporate Notes 8,631,621 30,896,188 11,045,828 - 50,573,637 Commercial Paper 905,793 - - - 905,793 Pass-Through Securities - 20,912,288 16,817,591 - 37,729,879 PARS Pension Plan Investment 3,766,236 - - - 3,766,236 Investments with Fiscal Agent:

Money Market Mutual Funds 29,995,588 - - - 29,995,588 US Treasury Obligation 201,920 - - - 201,920 Total 119,353,155$ 108,095,835$ 52,088,315$ -$ 279,537,305$ Fair Value at
June 30, 2025
Minimum
Legal
Rating AAA AA A Not Rated
Investments
Local Agency Investment Fund 33,893,253$ N/R -$ -$ -$ 33,893,253$ U.S. Treasury Obligations 79,186,736 N/R 76,702,036 - 2,484,700 - Municipal Bond 829,466 N/R - 829,466 - - U.S. Agency Securities 29,198,235 A 28,186,295 - - 1,011,940 Money Market Mutual Funds 2,016,700 AAA 2,016,700 - - - Supranational 11,239,862 N/R 11,239,862 - - - Corporate 50,573,637 A - 6,031,780 44,541,857 - Commercial Paper 905,793 A - - 905,793 - Pass-Through Securities 37,729,879 N/R 12,772,861 19,500,510 - 5,456,508 PARS Pension Plan Investment 3,766,236 N/R - - - 3,766,236 Investments with Fiscal Agent:

Money Market Mutual Funds 29,995,588 N/R 29,995,588 - - - U.S. Treasury Obligations 201,920 N/R 201,920 - - - Total 279,537,305$ 161,115,262$ 26,361,756$ 47,932,350$ 44,127,937$ N/R - Not required in California
65 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

3. CASH AND INVESTMENTS, Continued
E. Risk Disclosures, Continued
Concentration of Credit Risk
The investment policy of the City and California Government Code contains limitations on the amount that can be invested in any one issuer. The City is exposed to credit risk if it has invested more than 5% of its investments in any one issuer. Investments guaranteed by the U.S. government and investments in mutual funds and external investment pools are excluded from this requirement.

Custodial Credit Risk
For deposits, custodial credit risk is the risk that, in the event of the failure of a deposit financial institution, a government will not be able to recover its deposit or will not be able to recover collateral securities that are in the possession of an outside party. For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will not be able to recover the values of its investments or collateral securities that are in the possession of an outside party. The City’s investment policy contains requirements that would limit the exposure to custodial credit risk for deposits or investments, other that the provision for deposits stated in the California Government Code. None of the City’s investments were subject to custodial credit risk for the current year.

F. Investment in Local Agency Investment Funds
The City is a participant in LAIF which is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The City’s investments with LAIF at June 30, 2025, include a portion of the pool funds invested in Structured Notes and Asset-Backed Securities:

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

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

As of June 30, 2025, the City had $33,893,253 invested in LAIF, which had invested 3.81% of the pool investment funds in Structured Notes and Asset-Backed Securities as compared to 3.00% in the previous year. The LAIF fair value factor of 1.00119831 was used to calculate the fair value of the investments in LAIF.

66 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

4. LOANS RECEIVABLE
At June 30, 2025, the City’s net loans receivable consisted of the following:

A. Section 108 Loans
The City used the Section 108 loan fund and entered into loan agreements with local businesses for projects that benefit low-and moderate-income persons. The principal balance outstanding at June 30, 2025 was $122,070.

B. Deferred Home Improvement Loans
The Housing Improvement loans funds are for Health & Safety Repairs and Exterior Home Improvements. During the term of the loan, a portion of the loan shall be forgiven each full year provided that the owner is in good standing and complies with all of the covenants, conditions, and restrictions.

The principal balance outstanding at June 30, 2025 was $7,504,780.

Balance at
July 1, 2024 Additions Deletions
Balance at
June 30, 2025
Section 108 Loans 122,070$ -$ -$ 122,070$ Deferred Home Improvement Loans 6,920,140 730,557 (145,917) 7,504,780 Prototype Pomona Apartment Loans 1,488,118 28,422 - 1,516,540 Rental Rehabilitation Loans 554,547 7,042 - 561,589 CHDO Loan (Shield of Faith) 1,677,966 - - 1,677,966 HOPE III Loans 486,887 - (22,195) 464,692 Manufactured Housing Rehabilitation Loans 1,530,522 - (74,448) 1,456,074 Owner Occupied Loans 1,983,957 21,000 (23,557) 1,981,400 Mortgage Assistance Programs Loans 7,406,922 308,000 (59,000) 7,655,922 Neighborhood In Progress Loans 1,786,267 25,819 (166,543) 1,645,543 Neighborhood Stabilization Program 185,000 - - 185,000 Holt Avenue Housing Partners LP Loans 2,077,142 19,000 - 2,096,142 Telacu Housing Pomona 1,164,234 36,765 - 1,200,999 West Mission Housing Partners 3,999,785 110,750 - 4,110,535 East End Village Project 409,370 12,000 - 421,370 Rehabilitation Loans 104,694 110,637 - 215,331 NCRC Prisma LP - 7,019,447 - 7,019,447 Owner Occupied Rehab - 179,969 - 179,969 Est Uncollectible accounts- as restated (261,009) - - (261,009) Total 31,636,612$ 8,609,408$ (491,660)$ 39,754,360$ 67 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

4. LOANS RECEIVABLE, Continued
C. Prototype Pomona Apartment Loans
The former Redevelopment Agency entered into promissory note agreement with Prototypes Pomona Apartments, L.P. in the amount of $947,417 on May 4, 2005 for the purpose of construction and development of a 32-unit multi-family, very low-income affordable housing project. The loan bears simple interest of three percent (3%) per annum. In the event the project is sold or refinanced prior to the 30-year covenant period, the net proceeds of the sale or refinancing will be used to pay the accrued interest computed at a rate of six percent (6%) per annum from the date of default and the outstanding balance of the loan. Total outstanding principal and accrued interest at June 30, 2025 was $1,516,540.

D. Rental Rehabilitation Loans
The City used HOME funds and entered into sixteen various loan agreements for rental unit rehabilitation. Total principal borrowed from the City was in the amount of $313,000. The loan bears simple interest at 2.25% annum. Total outstanding principal and accrued interest at June 30, 2025 was $561,589.

E. Community Housing Development Organization (“CHDO”) Loan (Shield of Faith) The City used HOME funds and entered into loan agreement with Shield of Faith Economic Development Corporation in July 2009 for a development project where Shield of Faith purchased properties and developed them for Low-and Moderate-income persons and families. The term of the loan is 15 years and bears zero interest. The principal balance outstanding at June 30, 2025 was in the amount of $1,677,966 and will be forgiven upon the fulfillment of the terms of the agreement upon maturity date.

F. HOPE III Loans
The former Redevelopment Agency entered into two types of loans agreements through the HOPE III Program which the former Agency provided subsidy to assist persons and families of low income to purchase residential property as the principal resident at all times throughout the term of the agreement.

The 20-year loans entered into during the year ended June 30, 1995 bears compound interests at 5% per annum and began to be forgiven by 1/13 of the outstanding balance on August 1, 2002 annually. The loans entered into during the year ended June 30, 2008 bears interest at 2% annum and is due upon sale of the property. The outstanding balance at June 30, 2025 was in the amount of $464,692.

G. Manufactured Housing Rehabilitation Loans
The City used Cal HOME funds to provide funding for manufactured housing rehabilitation loans. The loan matures between 15 to 20 years and bears zero interest. One Tenth (1/10) of the loan balance is forgiven each year starting from year 11. The unpaid balances are due upon refinancing or transfer of the titles. At June 30, 2025, total outstanding balance was in the amount of $1,456,074.

68 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

4. LOANS RECEIVABLE, Continued
H. Owner Occupied Loans
The City used CalHOME funds to provide two types of owner-occupied loans. The home improvement loan bears simple interest at 1% annum and mature in 15 years or at 2% and mature in 30 years, the unpaid principal and interest are due upon (a) transfer of title, (b) refinancing of any debt secured by a lien on the property and (c) failure to occupy the property as principal residence.

The second loan program is the first-time home buyer program. The first-time home buyer can borrow up to $60,000. The loan bears zero interest and matures in 30 years or upon sale, foreclosure, transfer of title or refinance of the property with cash out.

Total outstanding principal and accrued interest at June 30, 2025 was in the amount of $1,981,400.

I. Mortgage Assistance Program (“MAP”) Loans
The City used HOME funds to provide mortgage assistance program loans up to $100,000 to the borrower.

The MAP loan bears zero interest and matures in 45 years. The former Redevelopment Agency also provided first time home buyer program. The former Agency’s program is a second silent mortgage loan program designed to assist qualified low-income individuals with the purchase of their first home.

Program assistance is limited to $500,000 (inclusive of applicable program fees) or the lesser amount (with zero percent interest) necessary to provide the “gap” assistance required to meet the Program’s front-end ratio requirements of 25% to 35%, whichever is lower. At June 30, 2025, total outstanding balance, net allowance, was in the amount of $7,655,922.

J. Neighborhood In Progress (“NIP”) Home Improvement Loans The Substantial Rehabilitation Loan Program is a deferred loan up to $60,000 and bears a 2% to 4% interest rate depending on funding and income. Repayment of the loans is due at the time of title change, resale, refinance with cash out, or non-compliance with program requirements. (Depending on funding source, some loans must be repaid at the end of thirty (30) years from the date of execution of the loan documents).

These loans are not a conventional equity loan or equity line of credit. Funding must be used to correct code violations or deferred maintenance which may cause code violations in the near future. The outstanding balance as of June 30, 2025 is $1,645,543.

K. Neighborhood Stabilization Program
The City through use of the Neighborhood Stabilization Program funding provided loans to qualified low-and moderate- income individuals on purchases of foreclosed homes. The loan bears zero interest and matures in 45 years. At June 30, 2025, the total outstanding balance was in the amount of $185,000.

69 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

4. LOANS RECEIVABLE, Continued
L. Holt Avenue Housing Partners LP Loans
The loan between the City of Pomona and Holt Avenue Housing Partners LP was to acquire property and construct a residential housing project consisting of 62 residential units that qualify for low-income persons and families. The principal amount of the loan was $1,900,000 with simple interest at the rate of 1% per annum. All principal and interest shall be due in full on the date that is 50 years from the date of recordation of the certificate of completion. The outstanding balance at June 30, 2025 was $2,096,142.

M. Telacu Housing Pomona Loans
The City through use of HOME fund entered into a loan agreement with Telacu Housing-Pomona II, Inc. in April 2008 and provided $612,755 for construction and development of a 70-unit multiple family apartment project comprising of 69 one bed bedroom units for very low and low income seniors and one two-bedroom manager unit. The loan bears simple interest at the rate of 6% annum. All principal and interest shall be due in full on the date that is 20 years from the date the project is first occupied. The outstanding balance at June 30, 2025 was $1,200,999.

N. West Mission Housing Partners
The loan between the City of Pomona and West Mission Housing partners were for a development project for the purchase and rehabilitation of a 57 unit affordable housing building to benefit Low and moderate income person and families. The principal balance of the loan is comprised of two separate loans $3,400,000 accounts for the purchase of the property and $250,000 accounts for the permit fees required to purchase and develop the property with a total principal balance of $3,650,000. Both loans have a simple annual 3% interest rate and mature 55 years from the date the construction financing converts to a permanent loan. The outstanding balance at June 30, 2025 was $4,110,535.

O. East End Village Project
The City entered into an agreement for East End Village Project in order to assist in the development of affordable housing within the territorial limits of the City. The City shall provide borrower financial assistance in the form of a loan not to exceed $400,000 which will be paid from the PLHA Program funds.

Simple interest shall accrue on the outstanding principal balance at a rate of three (3%) per annum, or the maximum legal limit, whichever is less, from the date that the permanent loan made to Borrower for the Project funds and records until accrued interest and unpaid principal are paid in full. The outstanding balance at June 30, 2025 was $421,370.

P. Rehabilitation Loans
The City offers an Accessory Dwelling Unit/Junior Accessory Dwelling Unit (ADU/JADU) Loan Program to residents, which is designed to expand the supply of affordable rental housing in the City by creating additional units within existing owner-occupied single-family homes, or by converting existing structures that are accessory to owner-occupied single-family homes into ADUs or JADUs, and provide low-income homeowners with an income stream through monthly rental payments. These loans are funded by PLHA Program funds. The outstanding balance at June 30, 2025 was $215,331. 70 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

4. LOANS RECEIVABLE, Continued
Q. NCRC Prisma LP
During the year, the city entered an agreement with NCRC Prisma LP. This Promissory is made and given pursuant to that certain Affordable Housing Disposition and Development Agreement between the City and National Community Renaissance of California, NCRC Prisma LP’s predecessor-in-interest. The principal balance of the loan is comprised of two separate loans $4,730,000 accounts for Land and $2,255,000 helps to construct the program with a total principal balance of $6,985,000. Both loans have a simple annual 3% interest rate and mature 55 years from the date the construction financing converts to a permanent loan. The outstanding balance at June 30, 2025 was $7,019,447.

R. Owner Occupied Rehabilitation
During the year, the City offers an Accessory Dwelling Unit/Junior Accessory Dwelling Unit (ADU/JADU) Loan Program to residents, which is designed to expand the supply of affordable rental housing in the City by creating additional units within existing owner-occupied single-family homes, or by converting existing structures that are accessory to owner-occupied single-family homes into ADUs or JADUs, and provide low-income homeowners with an income stream through monthly rental payments.

These loans are funded by CalHOME Program funds. The outstanding balance at June 30, 2025 was $179,969.

5. INTERFUND TRANSACTIONS
A. Government-Wide Financial Statements
Internal Balances – At June 30, 2025, the City had the following internal receivable and payable to consolidate the Internal Service Funds’ activities related to the Enterprise Funds.

Transfers – For the year ended June 30, 2025, the City had the following transfers. The purpose of the transfers was for debt service payments and to reimburse a construction project.

Internal Receivable
Internal Payable Business-Type Activities
Governmental Activities 7,197,307$
Transfers Out
Transfers In Business-Type Activities
Governmental Activities 4,101,773$
71 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

5. INTERFUND TRANSACTIONS, Continued
B. Fund Financial Statements
Due To/Due From – At June 30, 2025, the City had the following short-term interfund receivables and payables to cover negative cash at the end of the fiscal year.

Advances To/Advances From – At June 30, 2025, the City had the following long-term Interfund advances:

Advances in the amount of $60,330,000 from the Public Financing Authority Debt Service Fund to General Debt Service Fund are loan proceeds advanced (2017 Taxable Lease Revenue Bonds, Series BC, and BG).

Advance between the Nonmajor Government Funds and the General Fund was a loan from Vehicle Parking District Special Revenue Fund made on December 3, 2001. The Vehicle Parking District provided a $600,000 loan to the City to be used by the General Fund as a loan to the former Redevelopment Agency for the acquisition of the Fox Theater at zero interest. The principal is due when rent income is generated or when the property is sold. There is no fixed payment schedule. At June 30, 2025, the outstanding balance of the advances was in the amount of $304,435.

Advance in the amount of $2,195,501 from the Water Enterprise Fund to the Pomona Choice Energy Authority are to support the energy program.

Transfers – For the year ended June 30, 2025, the City had the following transfers:

The transfer of $4,318,050 between the General Fund and the General Debt Service Fund was for Series AR, BC, and BG debt service payments.

Proprietary Fund
Due from Other
Funds
General
Debt Service
Nonmajor
Governmental
Internal
Service Funds Total
Governmental Fund:

General Fund 1,556,020$ 17,953$ 494,349$ 2,068,322$ Governmental Funds
Due to Other Funds
Proprietary Fund
Advances to Other Funds General Fund
General Debt
Service Fund
Pomona Choice
Energy Authority Total
Governmental Fund:

Public Financing Authority
Debt Service Fund -$ 60,330,000$ -$ 60,330,000$ Non Major Governmental Fund 304,435 - - 304,435 Proprietary Fund:

Water Enterprise Fund - - 2,195,501 2,195,501 Total 304,435$ 60,330,000$ 2,195,501$ 62,829,936$ Advance from Other Funds
Governmental Funds
72 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

5. INTERFUND TRANSACTIONS, Continued
B. Fund Financial Statements, Continued
Transfers in the amount of $3,902,450 to Capital Outlay Capital Projects Fund were to provide funding for capital projects.

The transfer of $1,866,776 from Water Enterprise Fund to General Fund was to reimburse the City for the cost of services.

Water and Sewer Enterprise Funds transferred $600,000 and $417,000, respectively, to General Debt Service Fund to provide funding related to repayment of Series BC.

The remaining transfers are for the purpose of providing financial resources to cover expenditures.

6. DUE FROM OTHER GOVERNMENTS
At June 30, 2025, the City’s due from other governments consisted of the following:

Transfers Out General Fund
Housing Authority
Special
Revenue Fund
General
Governmental
Debt Service
Fund
Capital Outlay
Capital Projects Fund
Nonmajor
Governmental
Funds Water Fund Sewer Fund
Internal Service
Fund Total
Governmental Funds:

General Fund -$ 4$ 4,318,050$ 3,902,450 1,918,892$ 50,000$ -$ -$ 10,189,396$ Housing Authority
Special Revenue Fund 2 - - 1,353 - - - - 1,355 Debt Service Fund 74 - - - - - - - 74 Capital Outlay Capital Projects Fund - - - - - - 6,129 - 6,129 Nonmajor Governmental Funds 1 122,630 - 28,823,490 189,123 231,135 - 255,745 29,622,124 Proprietary Funds:

Water Enterprise Fund 1,866,776 - 600,000 82,213 - 1 - - 2,548,990 Sewer Enterprise Fund - - 417,000 85,377 - 678,809 - - 1,181,186 Refuse Enterprise Fund 1,011,792 - - 1,472,080 - - - 2,483,872 Internal Services Fund - - 13,557,113 - - 1,031,246 114,955 382,253 15,085,567 Total 2,878,645$ 122,634$ 18,892,163$ 34,366,963$ 2,108,015$ 1,991,191$ 121,084$ 637,998$ 61,118,693$ Proprietary Funds
Transfer In Transfer In
Governmental Funds
General Fund
Housing
Authority
Special Revenue
Fund
Capital Outlay
Capital Projects
Fund
Nonmajor
Governmental
Funds Total
Federal Government -$ 1,085,860$ 316,810$ 2,271,742$ 3,674,412$ State of California 7,077,612 - 1,885,496 2,853,232 11,816,340 County of Los Angeles - 1,374,923 - - 1,374,923 Local Government Entities 928,536 - 2,228,829 - 3,157,365 Total 8,006,148$ 2,460,783$ 4,431,135$ 5,124,973$ 20,023,039$ Governmental Activities
73 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

7. LEASES
The City implemented GASB Statement No. 87 in the fiscal year ended June 30, 2023. The primary objective of this statement is to enhance the relevance and consistency of information about governments' leasing activities. This statement establishes a single model for lease accounting based on the principle that leases are financings of the right to use an underlying asset. Under this Statement, a lessee is required to recognize a lease liability and an intangible right-to-use lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources. For additional information, refer to the disclosures below.

A. Leases Receivable and Deferred Inflows of Resources
J. C. Park: On July 1, 2021, the City entered into a 58-month lease as Lessor for the use of J. C. Park. An initial lease receivable was recorded in the amount of $190,371. As of June 30, 2025, the value of the lease receivable is $38,374. The lessee is required to make monthly fixed payments of $3,116. The lease has an interest rate of 1.0586%. The value of the deferred inflow of resources as of June 30, 2025, was $34,878 and City of Pomona recognized lease revenue of $38,873 during the fiscal year. The lessee has 2 extension option(s), each for 60 months.

Site No #IE05427A: On July 1, 2021, the City entered into a 57-month lease as Lessor for the use of Site No #IE05427A. An initial lease receivable was recorded in the amount of $187,420. As of June 30, 2025, the value of the lease receivable is $34,901. The lessee is required to make monthly fixed payments of $3, 116. The lease has an interest rate of 1.0586%. The value of the deferred inflow of resources as of June 30, 2025, was $31,056 and City of Pomona recognized lease revenue of $39,091 during the fiscal year. The lessee has 2 extension option(s), each for 60 months.

Canyon Rim Road: On July 1, 2021, the City entered into a 52-month lease as Lessor for the use of 25 1/2 Canyon Rim Road. An initial lease receivable was recorded in the amount of $173,258. As of June 30, 2025, the value of the lease receivable is $17,496. The lessee is required to make monthly fixed payments of $3,116. The lease has an interest rate of 0.8927%. The value of the deferred inflow of resources as of June 30, 2025, was $15,452 and City of Pomona recognized lease revenue of $39,451 during the fiscal year.

The lessee has 2 extension option(s), each for 60 months.

Site No #IE04871A: On July 1, 2021, the City entered into a 71-month lease as Lessor for the use of Site No #IE04871A. An initial lease receivable was recorded in the amount of $47,849. As of June 30, 2025, the value of the lease receivable is $10,395. The lessee is required to make annual fixed payments of $9,348.

The lease has an interest rate of 1.2170%. The value of the deferred inflow of resources as of June 30, 2025, was $15,801 and City of Pomona recognized lease revenue of $8,012 during the fiscal year. The lessee has 3 extension option(s), each for 60 months.

East Mission Boulevard: On July 1, 2021, the City entered into a 51-month lease as Lessor for the use of 1400 East Mission Boulevard. An initial lease receivable was recorded in the amount of $13,726.10. As of June 30, 2025, the value of the lease receivable is $1,074. The lessee is required to make monthly variable principal and interest payments of $269 based on a CPI index of 0.00%. The lease has an interest rate of

0.8927%. The value of the deferred inflow of resources as of June 30, 2025, was $883 and City of Pomona recognized lease revenue of $3,211 during the fiscal year.

74 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

7. LEASES, Continued
A. Leases Receivable and Deferred Inflows of Resources, Continued Total Leases Receivable at June 30, 2025 are as follows:

8. LAND HELD FOR RESALE
At June 30, 2025, land held for resale in the amount of $4,359,737 is reported at the acquisition cost in the Housing Authority Special Revenue Fund.

Principal Interest Total
Fiscal Year Payments Payments Payments
2026 102,240$ 540$ 102,780$
Total 102,240$ 540$ 102,780$
Governmental Activities
75 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

9. CAPITAL ASSETS
A. Government-Wide Financial Statements
At June 30, 2025, the City’s capital assets consisted of the following:

Governmental
Activities
Business-Type
Activities Total
Nondepreciable Assets:

Land 81,740,770$ 9,406,658$ 91,147,428$ Construction in Progress 78,907,783 46,720,848 125,628,631 Total Nondepreciable Assets 160,648,553 56,127,506 216,776,059 Depreciable Assets:

Building and Building Improvements 33,711,954 3,482,783 37,194,737 Improvements Other Than Buildings 79,197,846 849,759 80,047,605 Machinery and Equipment 27,467,000 231,560,655 259,027,655 Furniture and Fixtures 1,572,808 5,105 1,577,913 Autos and Trucks 17,413,849 7,854,283 25,268,132 Equipment Under Financed Purchase 2,750,176 - 2,750,176 Right-to-Use- Land 204,076 - 204,076 Infrastructure 399,343,044 - 399,343,044 Total Capital Assets, at Cost 563,883,871 243,752,585 807,636,456 Less accumulated depreciation:

Building and Building Improvements (14,902,010) (3,381,569) (18,283,579) Improvements Other Than Buildings (40,348,669) (384,222) (40,732,891) Machinery and Equipment (20,339,492) (112,240,682) (132,580,174) Furniture and Fixtures (1,138,020) (5,105) (1,143,125) Autos and Trucks (10,112,448) (4,421,353) (14,533,801) Equipment Under Financed Purchase (1,668,779) - (1,668,779) Right-to-Use- Land (204,076) - (204,076) Infrastructure (276,258,293) - (276,258,293) Total Accumulated Depreciation (365,712,826) (120,432,931) (486,145,757) Total Depreciable Assets, Net 198,171,045 123,319,654 321,490,699 Total Capital Assets, Net 358,819,598$ 179,447,160$ 538,266,758$ 76 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

9. CAPITAL ASSETS, Continued
B. Governmental Activities
The following is a summary of changes in capital assets for governmental activities for the year ended June 30, 2025:

Balance
July 1, 2024 Additions Deletions Transfers
Balance
June 30, 2025
Nondepreciable Assets:

Land 79,804,769$ -$ (313,000)$ 2,249,001$ 81,740,770$ Construction in Progress 75,362,236 43,323,860 (2,650,659) (37,127,654) 78,907,783 Total Nondepreciable Assets 155,167,005 43,323,860 (2,963,659) (34,878,653) 160,648,553 Depreciable Assets:

Building and Building Improvements 24,803,242 - - 8,908,712 33,711,954 Improvements Other Than Buildings 75,933,210 229,051 (504,189) 3,539,773 79,197,846 Machinery and Equipment 26,316,257 859,842 (105,213) 396,114 27,467,000 Furniture and Fixtures 1,407,653 132,181 - 32,974 1,572,808 Autos and Trucks 16,806,156 1,534,204 (1,217,686) 291,175 17,413,849 Equipment Under Financed Purchase 3,002,759 - (252,583) - 2,750,176 Right-to-Use- Land 204,076 - - - 204,076 Infrastructure 390,420,276 - (12,787,137) 21,709,905 399,343,044 Subscription Asset - 2,223,119 - - 2,223,119 Total Capital Assets, at Cost 538,893,629 4,978,397 (14,866,808) 34,878,653 563,883,871 Less accumulated depreciation:

Building and Building Improvements (14,306,131) (595,879) - - (14,902,010) Improvements Other Than Buildings (38,525,282) (2,045,230) 221,843 - (40,348,669) Machinery and Equipment (19,315,021) (1,129,685) 105,214 - (20,339,492) Furniture and Fixtures (1,097,201) (40,819) - - (1,138,020) Autos and Trucks (10,093,937) (1,236,198) 1,217,687 - (10,112,448) Equipment Under Financed Purchase (1,803,471) (117,891) 252,583 - (1,668,779) Right-to-Use- Land (163,381) (40,695) - - (204,076) Infrastructure (282,637,789) (6,122,226) 12,501,722 - (276,258,293) Subscription Asset - (741,040) - - (741,039.59) Total Accumulated Depreciation (367,942,213) (12,069,662) 14,299,049 - (365,712,826) Total Depreciable, Assets, Net 170,951,416 (7,091,265) (567,759) 34,878,653 198,171,045 Total Capital Assets, Net 326,118,421$ 36,232,595$ (3,531,418)$ -$ 358,819,598$ 77 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

9. CAPITAL ASSETS, Continued
B. Governmental Activities, Continued
Depreciation expense for capital assets of the governmental activities for the year ended June 30, 2025, is as follows:

C. Business-Type Activities
The following is a summary of changes in capital assets for business-type activities for the year ended June 30, 2025:

General Government 1,184,147$
Public Safety 2,044,219
Development Services 7,153,560
Neighborhood Services 1,637,777
Internal Service Funds 49,959
12,069,662$
Balance
July 1, 2024 Additions Deletions Transfers
Balance
June 30, 2025
Nondepreciable Assets:

Land 9,089,782$ -$ -$ 316,876$ 9,406,658$ Construction in Progress 45,375,451 1,662,273 - (316,876) 46,720,848 Total Nondepreciable Assets 54,465,233 1,662,273 - - 56,127,506 Depreciable Assets:

Building and Building Improvements 3,482,783 - - - 3,482,783 Improvements Other Than Buildings 849,759 - - - 849,759 Machinery and Equipment 231,990,942 - (430,287) - 231,560,655 Furniture and Fixtures 5,105 - - - 5,105 Autos and Trucks 6,313,205 1,914,307 (373,229) - 7,854,283 Total Capital Assets, at Cost 242,641,794$ 1,914,307$ (803,516)$ -$ 243,752,585$ Less accumulated depreciation:

Building and Building Improvements (3,375,835) (5,734) - - (3,381,569) Improvements Other Than Buildings (350,987) (33,235) - - (384,222) Machinery and Equipment (109,062,071) (3,608,898) 430,287 - (112,240,682) Furniture and Fixtures (5,105) - - - (5,105) Autos and Trucks (4,430,640) (363,942) 373,229 - (4,421,353) Total Accumpilated Depreciation (117,224,638) (4,011,809) 803,516 - (120,432,931) Total Depreciable, Assets, Net 125,417,156 (2,097,502) - - 123,319,654 Total Capital Assets, Net 179,882,389$ (435,229)$ -$ -$ 179,447,160$ 78 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

9. CAPITAL ASSETS, Continued
C. Business-Type Activities, Continued
Depreciation expense for capital assets of the business-type activities for the year ended June 30, 2025, is as follows:

10. OTHER INVESTMENTS
Other Investments in Water Enterprise fund represent one-quarter of share of the San Antonio Water Company for a cost of $9,000.

11. LONG-TERM LIABILITIES
The following is a summary of changes of long-term liabilities for the year ended June 30, 2025:

Water 3,409,546$
Sewer 602,263
4,011,809$
Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Due Within
One Year
Due in more
than One Year
Governmental Activities:

Financed purchases 697,397$ -$ (174,350)$ 523,047$ 174,350$ 348,697$ Notes Payable 239,883 568,500 (109,587) 698,796 414,009 284,787 Revenue Bonds 63,875,974 - (2,308,370) 61,567,604 2,180,000 59,387,604 Pension obligation refunding bonds 188,799,086 - (8,016,333) 180,782,753 8,264,343 172,518,410 Accreted interest 5,087,885 - (623,846) 4,464,039 705,648 3,758,391 Lease Liability 43,070 - (43,070) - - - Subscription based I.T agreements - 2,223,119 (685,035) 1,538,084 737,923 800,161 Total Governmental Activities 258,743,295$ 2,791,619$ (11,960,591)$ 249,574,323$ 12,476,273$ 237,098,050$ Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Due Within
One Year
Due in more
than One Year
Business-Type Activities:

Revenue Bonds 99,222,300$ -$ (2,826,742)$ 96,395,558$ 2,800,000$ 93,595,558$ Pension Obligation Bonds 19,765,459 - (630,701) 19,134,758 650,009 18,484,749 Total Business-type activities 118,987,759$ -$ (3,457,443)$ 115,530,316$ 3,450,009$ 112,080,307$ 79 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Financed Purchases
At June 30, 2025, obligations under the finance purchase consisted of the following:

The City has entered into numerous equipment finance purchase agreements with a leasing company whereby the lessor acquired certain equipment and leased it to the City with an option to purchase. The related assets have been capitalized as capital assets.

The total leased assets by major asset class consisted of the following at June 30, 2025:

The depreciation expense for equipment under financed purchase was $117,891 for the year ended June 30, 2025.

The rates of interest on the lease purchase agreements range from 2.19% to 3.30% per annum. Future minimum lease payments under the lease at June 30, 2025 is as follows:

Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Due Within
One Year
BBVA 697,397$ -$ (174,350)$ 523,047$ 174,350$ 2,750,176$
Accumulated depreciation (1,668,779)
1,081,397$
Equipment under financed purchase, at cost
Equipment under financed purchase, net
Year Ending June 30, Payment
2026 189,309$
2027 183,869
2028 178,430
Subtotal 551,608
Less amount representing interest (28,561)
Present value of future minimum lease payments 523,047$ 80 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Notes Payable
At June 30, 2025, notes payable consisted of the following:

Southern California Edison On Bill Financing
On September 26, 2017, the City entered into the on-bill financing agreement with Southern California for the Energy Solution Incentive Applicable. The agreement provides zero-interest financing for the installation of certain energy efficient streetlights up to $623,628.

The annual debt service requirement at June 30, 2025 as follow:

SoCalREN Revolving Fund Loan
On August 21, 2021, the city entered into a loan agreement for the purpose of providing financing to mechanical and lighting upgrades at the City’s Palomares Park, Community Center and Public Library. The agreement provide zero interest financing up to $1,539,211. In June 3, 2024 , the city entered into another loan agreement for the purpose of providing financing to the lessee to fund mechanical and lighting upgrades at police department. The agreement provide zero interest financing of $568,000.

The annual debt service requirement at June 30, 2025 as follow:

Capital Lease
Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Due Within
One Year
SoCalREN Revolving Loan Fund 44,439$ 568,500$ (44,439)$ 568,500$ 348,861$ Southern California Edison
On Bill Financing 195,444 - (65,148) 130,296 65,148 Total 239,883$ 568,500$ (109,587)$ 698,796$ 414,009$ Year Ending June 30, Principal Interest Total
2026 65,148$ -$ 65,148$ 2027 65,148 - 65,148 Total 130,296$ -$ 130,296$ Year Ending June 30, Principal Interest Total
2026 348,861$ -$ 348,861$ 2027 73,213 - 73,213 2028 146,426 - 146,426 Total 568,500$ -$ 568,500$ 81 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Revenue Bonds – Governmental Activities
At June 30, 2025, revenue bonds consisted of the following:

Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Due Within
One Year
2016 Lease Revenue Refunding Bonds
Series BC 18,480,000$ -$ (1,320,000)$ 17,160,000$ 1,370,000$ Unamortized Bond Premium 1,350,974 - (113,370) 1,237,604 - 2017 Taxable Lease Revenue
Refunding Bonds, Series BG 44,045,000 - (875,000) 43,170,000 810,000 Total 63,875,974$ -$ (2,308,370)$ 61,567,604$ 2,180,000$ Unamortized Deferred Loss on Refunding Balance Balance
July 1, 2024 Additions Deletions June 30, 2025
2017 Taxable Lease Revenue
Refunding Bonds, Series BG (258,573)$ -$ 23,512$ (235,061)$ (258,573)$ -$ 23,512$ (235,061)$ Unamortized Deferred Gain on Refunding
2016 Lease Revenue Refunding Bond, Series BC 285,422$ -$ (23,951)$ 261,471$ 285,422$ -$ (23,951)$ 261,471$ 82 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Revenue Bonds – Governmental Activities, Continued
2016 Lease Revenue Refunding Bonds, Series BC-Original Issuance $26,645,000 On August 17, 2016, the Authority issued $26,645,000 in 2016 Lease Revenue Refunding Bonds, Series BC, to (a) current refund the City’s 2013 Certificates of Participation, Series AG and the Authority’s 2005 Lease Revenue Bonds, Series AN, (b) purchase a reserve policy, and (c) pay for the cost of issuance.

The current refunding resulted in a difference between the acquisition price (Series BC) and the net carrying amount of the relinquished bonds (Series AG and AN) in the amount of $437,040. This amount is reported as deferred gain on refunding. This deferred amount is amortized through June 1, 2034, the maturity date of the refunded debt (Series AG). The refunding also resulted in the net present value savings in the amount of $6,224,352 and savings in debt serviced payment in the amount of $9,737,668.

Interest on the bonds is payable semiannually on each December 1 and June 1 and the final principal matures on June 1, 2036. The rates of interest range from 2% to 4% per annum. Principal is payable in annual installments ranging from $1,085,000 to $1,810,000.

The bonds are secured by certain revenues consisting of certain Lease Payments with respect to the leased property by the City.

The annual debt service requirement for the 2016 Lease Revenue Refunding bonds, Series BC outstanding at June 30, 2025, is as follows:

Year Ending June 30, Principal Interest Total
2026 1,370,000$ 600,813$ 1,970,813$
2027 1,425,000 546,013 1,971,013
2028 1,485,000 489,013 1,974,013
2029 1,540,000 429,613 1,969,613
2030 1,605,000 368,013 1,973,013
2031-2035 8,290,000 1,093,931 9,383,931
2036 1,445,000 50,450 1,495,450
Total 17,160,000$ 3,577,844$ 20,737,844$
83 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Revenue Bonds – Governmental Activities, Continued
2017 Lease Revenue Refunding Bonds, Series BG-Original Issuance $50,475,000 On June 30, 2017, the Authority issued $50,475,000 in 2017 Lease Revenue Refunding Bonds, Series BG, (a) to current refund the Authority’s 2006 Lease Revenue Bonds, Series AU and Series AV, and a portion of the City’s 2006 Pension Obligation Refunding Bonds, Series AR and (b) to pay for the premium of municipal bond insurance policy and municipal bond debt service reserve insurance policy, and (c) to pay for the cost of issuance.

The current refunding resulted in a difference between the acquisition price (Series BG) and the net carrying amount of the relinquished bonds (Series AR, AU, and AV) in the amount of $423,223. The amount is reported as deferred loss on refunding. The deferred amount is amortized through July 1, 2035, the maturity date of the refund debt. The refunding also resulted in net present value saving in the amount of $7,400,589 and saving in debt service payments in the amount of $990,384 Interest on the bonds is payable semiannually on each October 1 and April 1 and the final principal matures on April 1, 2045. The rates of interest range from

1.844% to 4.092% per annum. Principal is payable in annual installments ranging from $480,000 to $3,470,000.

The bonds are secured by certain revenues consisting of certain lease payments with respect to the leased property by the City.

The annual debt service requirement for 2017 Lease Revenue Refunding Bonds, Series BG outstanding at June 30, 2025, is as follows:

Year Ending June 30, Principal Interest Total
2026 810,000$ 1,734,502$ 2,544,502$
2027 735,000 1,708,534 2,443,534
2028 655,000 1,683,867 2,338,867
2029 570,000 1,658,610 2,228,610
2030 480,000 1,636,631 2,116,631
2031-2035 10,770,000 7,280,072 18,050,072
2036-2040 13,120,000 4,929,590 18,049,590
2041-2045 16,030,000 2,020,425 18,050,425
Total 43,170,000$ 22,652,231$ 65,822,231$
84 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Revenue Bonds – Business-Type Activities

Balance
July 1, 2024 Deletions
Balance
June 30, 2025
Due Within
One Year
2016 Revenue Refunding Bonds,
(Sewer Project), Series BB 8,425,000$ -$ 8,425,000$ -$ Unamortized Bond Discount (14,300) 778 (13,522) - 2016 Taxable Revenue Refunding
Bonds (Sewer Project), Series BD 1,715,000 (390,000) 1,325,000 405,000 Unamortized Bond Discount (17,606) 3,686 (13,920) - 2017 Refunding Revenue Bonds
(Water Facilities), Series BE 32,355,000 - 32,355,000 - Unamortized Bond Premium 2,539,206 (111,206) 2,428,000 - 2017 Taxable Refunding Revenue
Bonds (Water Facilities), Series BF 42,180,000 (2,080,000) 40,100,000 2,145,000 2018 Taxable Funding Revenue
(Sewer Project), Series BH 12,040,000 (250,000) 11,790,000 250,000 Total 99,222,300$ (2,826,742)$ 96,395,558$ 2,800,000$ Balance
July 1, 2024 Deletions
Balance
June 30, 2025
Unamortized Deferred Loss on Refunding:
2016 Revenue Refunding Bonds,
(Sewer Project), Series BB (281,091)$ 15,263$ (265,828)$ 2016 Taxable Revenue Refunding
Bonds (Sewer Project), Series BD (60,089) 13,604 (46,485) Total (341,180)$ 28,867$ (312,313)$
Unamortized Deferred Gain on Refunding:
2017 Refunding Revenue Bonds
(Water Facilities), Series BE 1,065,659$ (46,671)$ 1,018,988$ 2017 Taxable Refunding Revenue Bonds
(Water Facilities), Series BF 1,521,462 (66,634) 1,454,828$ Total 2,587,121$ (113,305)$ 2,473,816$
85 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Revenue Bonds – Business-Type Activities, Continued
2016 Revenue Refunding Bonds (Sewer Projects), Series BB – Original Issuance $8,425,000 On October 12, 2016, the Authority issued $8,425,000 in 2016 Revenue Refunding Bonds Sewer Projects, Series BB, (a) to current refund the Authority’s 2002 Refunding Revenue Bonds, Series AF and (b) to fund the initial reserve, and (c) to pay for the cost of issuance.

The current refunding resulted in a difference between the acquisition price (Series BB) and the net carrying amount of the relinquished bonds (Series AF) in the amount of $437,832. This amount is reported as deferred loss on refunding. The deferred amount is amortized through December 1, 2035, the maturity date of the refunded debt. The refunding of Series AF with Series BB/BD also resulted in net present value savings in the amount of $1,896,844 and saving in debt service payments in the amount of $3,022,853.

Interest on the bonds is payable semiannually on each December 1 and June 1 and the final principal matures on December 1, 2042. The rates of interest range from 3.25% to 4.00% per annum. Principal is payable in annual installments ranging from $360,000 to $710,000. The bonds are secured by an installment Sale Agreement, dated as of November 1, 2016 between the City and the Authority. The Installment Payments are a special limited obligation of the City, payable from and secured by a pledge of and first lien on all Net Revenues, subject to the parity lien securing the Authority’s 2007 Installment Sale Agreement, in the Sewer Enterprise Fund held by the City in trust under the Installment Sale Agreement.

The annual debt service requirement for the 2016 Revenue Refunding Bonds (Sewer Projects), Series BB outstanding at June 30, 2025 is as follows:

Year Ending June 30, Principal Interest Total
2026 -$ 292,019$ 292,019$
2027 - 292,019 292,019
2028 - 292,019 292,019
2029 360,000 284,819 644,819
2030 455,000 268,519 723,519
2031-2035 2,545,000 1,067,761 3,612,761
2036-2040 3,010,000 605,544 3,615,544
2041-2043 2,055,000 105,723 2,160,723
Total 8,425,000$ 3,208,421$ 11,633,421$
86 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Revenue Bonds – Business-Type Activities, Continued
2016 Taxable Revenue Refunding Bonds (Sewer Projects), Series BD – Original Issuance $4,185,000 On October 12, 2016, the Authority issued $4,185,000 in 2016 Taxable Revenue Refunding Bonds (Sewer Projects), Series BD (a) to current refund the Authority’s 2002 Refunding Revenue Bonds, Series AF and (b) to fund the initial reserve, and (c) to pay for the cost of issuance.

The current refunding resulted in a difference between the acquisition price (Series BD) and the net carrying amount of the relinquished bonds (Series AF) in the amount of $173,992. This amount is reported as deferred loss on refunding. The deferred amount is amortized through December 1, 2028, the maturity date of the refunding debt. See disclosure of Series BB for net present value savings and saving in debt service payments.

Interest on the bonds is payable semiannually on each December 1 and June 1 and the final principal matures on December 1, 2028. The rates of interest range from 1.125% to 3.000% per annum. Principal is payable in annual installments ranging from $80,000 to $425,000. The bonds are secured by an Installment Sale Agreement, dated as of November 1, 2016 between the City and the Authority. The Installment Payments are a special limited obligation of the City, payable from and secured by a pledge of and first lien on all Net Revenues, subject to the parity lien securing the Authority’s 2007 Installment Sale Agreement, in the Sewer Enterprise Fund held by the City in trust under the Installment Sale Agreement.

The annual debt service requirement for the 2016 Taxable Revenue Refunding Bonds (Sewer Projects), Series BD outstanding at June 30, 2025, is as follows:

Year Ending June 30, Principal Interest Total
2026 405,000$ 31,600$ 436,600$
2027 415,000 20,325 435,325
2028 425,000 8,509 433,509
2029 80,000 1,200 81,200
Total 1,325,000$ 61,634$ 1,386,634$
87 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Revenue Bonds – Business-Type Activities, Continued
2017 Refunding Revenue Bonds (Water Facilities Project), Series BE – Original Issuance $32,355,000 On April 20, 2017, the City issued $32,355,000 in 2017 Refunding Revenue Bonds (Water Facilities Project), Series BE, (a) to current refund the Authority’s 2007 Revenue Bonds, Series AY and (b) to pay for the cost of issuance.

The current refunding resulted in a difference between the acquisition price (Series BE) and the net carrying amount of the relinquished bonds (Series AY) in the amount of $1,400,135. This amount is reported as deferred gain on refunding. The deferred amount is amortized through May 1, 2047, the maturity date of the refunded and refunding debt.

The refunding also resulted in net present value savings in the amount of $5,804,889 and savings in debt service payments in the amount of $10,341,640.

Interest on the bonds is payable semiannually on each November 1 and May 1 and the final principal matures on May 1, 2047. The rates of interest range from 4.000% to 5.000% per annum. Principal is payable in annual installments ranging from $745,000 to $2,485,000. The bonds are limited obligations of the City payable solely from net revenues, which consist of revenues of the city’s water system remaining after payment of operation and maintenance costs of the City’s water system, and from amounts on deposit in certain funds and accounts created under the bond indenture, including the rate stabilization fund.

The annual debt service requirement for the 2017 Taxable Refunding Revenue Bonds (Water Facility Project), Series BE outstanding at June 30, 2025, is as follows:

Year Ending June 30, Principal Interest Total
2026 -$ 1,452,150$ 1,452,150$
2027 - 1,452,150 1,452,150
2028 - 1,452,150 1,452,150
2029 745,000 1,452,150 2,197,150
2030 1,190,000 1,414,900 2,604,900
2031-2035 6,875,000 6,161,950 13,036,950
2036-2040 8,400,000 4,628,150 13,028,150
2041-2045 10,295,000 2,744,400 13,039,400
2046-2047 4,850,000 366,750 5,216,750
Total 32,355,000$ 21,124,750$ 53,479,750$
88 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Revenue Bonds – Business-Type Activities, Continued
2017 Taxable Refunding Revenue Bonds (Water Facilities Project), Series BF – Original Issuance $55,555,000 On April 20, 2017, the City issued $55,555,000 in 2017 Taxable Refunding Revenue Bonds (Water Facilities Project), Series BF, (a) to current refund the Authority’s 2007 Revenue Bonds, Series AY and 2007 Taxable Revenue Refunding Bonds, Series AZ and (b) to pay for the cost of issuance.

The current refunding resulted in a difference between the acquisition price (Series BF) and the net carrying amount of the relinquished bonds (series AY and AZ) in the amount of $1,991,001. This amount is reported as deferred gain on refunding. The deferred amount is amortized through May 1, 2047, the maturity date of the refunded and refunding debt. The refunding also resulted in a net present value savings in the amount of $9,412,637 and savings in debt service payments in the amount of $26,091,863.

Interest on the bonds is payable semiannually on each November 1 and May 1 and the final principal matures on May 1, 2047. The rates of interest range from 1.530% to 4.050% per annum. Principal is payable in annual installments ranging from $1,510,000 to $2,420,000. The bonds are limited obligations of the City payable solely from net revenues, which consist of revenues from the City’s water system remaining after payment of operation and maintenance costs of the City’s water system, and from amounts on deposit in certain funds and accounts created under the bond indenture, including the rate stabilization fund.

The annual debt service requirement for the 2017 Taxable Refunding Revenue Bonds (Water Facility Project), Series BF outstanding at June 30, 2025, is as follows:

Year Ending June 30, Principal Interest Total
2026 2,145,000$ 1,529,598$ 3,674,598$
2027 2,210,000 1,463,103 3,673,103
2028 2,285,000 1,391,278 3,676,278
2029 1,615,000 1,314,730 2,929,730
2030 1,260,000 1,259,013 2,519,013
2031-2035 7,025,000 5,564,998 12,589,998
2036-2040 8,490,000 4,100,280 12,590,280
2041-2045 10,325,000 2,248,155 12,573,155
2046-2047 4,745,000 290,183 5,035,183
Total 40,100,000$ 19,161,335$ 59,261,335$
89 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Revenue Bonds – Business-Type Activities, Continued
2018 Taxable Refunding Revenue Bonds (Sewer Project), Series BH – Original Issuance $13,390,000 On February 14, 2018, the City issued $13,390,000 in 2018 Refunding Revenue Bonds (Sewer Project), Series BH, (a) to current refund the Authority’s 2007 Revenue Bonds (Sewer Project) Series BA and (b) to pay for the cost of issuance.

The current refunding resulted in the economic gain in the amount of $1,807,498 and the debt service payment saving in the amount of $3,155,990. The current refunding resulted in no deferred gains or losses as the bond proceeds net of the issuance discount was sufficient to cover repayment of 2007 Revenue Bonds (Sewer Project), Series BA, the interest due, and the issuance cost of the 2018 Taxable Refunding Revenue Bonds (Sewer Project), Series BH.

Interests on the bonds is payable semiannually on each December 1 and June 1 and the final principal matures on December 1, 2046. The rates of interest range from 3.80% to 4.50% per annum.

The annual debt service requirement for the 2017 Taxable Refunding Revenue Bonds (Sewer Project), Series BH outstanding at June 30, 2025, is as follows:

Year Ending June 30, Principal Interest Total
2026 250,000$ 467,883$ 717,883$
2027 260,000 459,245 719,245
2028 275,000 449,773 724,773
2029 280,000 439,740 719,740
2030 290,000 428,975 718,975
2031-2035 1,650,000 1,960,228 3,610,228
2036-2040 2,005,000 1,599,158 3,604,158
2041-2045 3,990,000 1,083,835 5,073,835
2046-2047 2,790,000 115,620 2,905,620
Total 11,790,000$ 7,004,455$ 18,794,455$
90 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Pension Obligation Bonds

2006 Pension Obligation Refunding Bonds, Series AR- Original Issuance $42,280,684 The City is a member of the California Public Employees’ Retirement System (“CalPERS”), a public employees’ defined benefits retirement program. In 2004, the City issued $32,300,000 and $5,700,000 in Pension Obligation Bonds, in order to fund the City’s unamortized, unfunded actuarial accrued liability and to fund the current year General Fund contributions to CalPERS.

On February 1, 2006, the City issued $42,280,684 in 2006 Pension Obligations Refunding Bonds, Series AR to refund the City’s outstanding Pension Obligation Refunding Bonds, Series 004 AJ and its Pension Obligation Refunding Bonds, Series 2004 AK, to capitalize certain interest on the Bonds and to pay the costs of issuing the Bonds. The refunding achieved net present value savings of $868,932, or 2.3% of refunded par and changed the debt structure from variable rate to fixed rate.

The Bonds were issued as current interest bonds in the principal amount of $36,205,000 and as capital appreciations bonds in the original issue amount of $6,075,684.

Interest on the current interest bonds is payable semi-annually on each January 1 and July 1. The rates of interest vary and range from 5.492% to 5.832% per annum. Principal is payable in annual installments ranging from $71,302 to $5,140,000. The current interest bonds were current refunded by the 2017 Lease Revenue Refunding Bonds, Series BG during the year ended June 30, 2017.

Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Due Within
One Year
Governmental Activities
2006 Pension Obligation Bonds,
Series AR 2,257,116$ -$ (346,154)$ 1,910,962$ 359,352$ Accreted Interest 5,087,885 - (623,846) 4,464,039 705,648 2020 Pension Obligation Bonds,
Series BJ 184,817,417 - (7,595,444) 177,221,973 7,904,991 Bond Premium 1,724,553 - (74,735) 1,649,818 - Subtotal 193,886,971 - (8,640,179) 185,246,792 8,969,991 Business-Type Activities
2020 Pension Obligation Bonds,
Series BJ 19,582,583 - (624,556) 18,958,027 650,009 Bond Premium 182,876 - (6,145) 176,731 - Subtotal 19,765,459 - (630,701) 19,134,758 650,009 Total 213,652,430$ -$ (9,270,880)$ 204,381,550$ 9,620,000$ 91 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Pension Obligation Bonds, Continued
2006 Pension Obligation Refunding Bonds, Series AR- Original Issuance $42,280,684, Continued The capital appreciation bonds bear interest ranges from 5.24% to 5.68% and are payable only at maturity.

The accreted value of each capital appreciation bond is equal to its accreted value upon the maturity thereof, being comprised of its initial purchase price and the accreted interest between the delivery date and its respective maturity date. The obligation of the City to make payments with respect to the Bonds is an absolute and unconditional obligation of the City imposed upon the City by the Retirement Law and is not limited to any special source of funds. The City’s obligation for the Bonds is any money available in the City’s General Fund. The Bonds are not secured or limited as to payment by any special source of funds of the City. The current interest bonds are subject to redemption prior to maturity. The capital appreciation bonds are not subject to redemption prior to maturity.

July 1, 2017, principal and interest payments for the capital appreciation bonds were redeemed through the issuance of 2017 Lease Revenue Refunding Bonds, Series BG. The proceeds were deposited to the trust account on June 29, 2017.

The annual debt service requirement outstanding at June 30, 2025, is as follows:

2020 Taxable Pension Obligation Bonds, Series BJ - Original Issuance $219,890,000 On August 13, 2020, the City issued $219,890,000 in 2020 Taxable Pension Obligations Bonds, Series BJ to pay all or a portion of the City’s currently unamortized, unfunded accrued actuarial liability to the California Public Employees Retirement system with respect to the City’s defined benefit retirement plans for City employees and to pay costs of issuance of the bonds. The bonds liability has be allocated between the City’s governmental activities (0.743%) and City’s business-type activities (0.257%).

Interest on the bonds ranging from 2.474% to 4.000% are payable semiannually on February 1 and August 1 of each year, commence in February 2021 through the maturity on August 2046. Principal is payable in annual installments ranging from $7,590,000 to $11,650,000 on August 1.

Year Ending June 30, Principal

Interest Total
2026 359,352$ 705,648$ 1,065,000$
2027 371,682 793,318 1,165,000
2028 383,108 886,892 1,270,000
2029 393,617 986,383 1,380,000
2030 403,203 1,089,752 1,492,955
Total 1,910,962$ 4,461,992$ 6,372,954$
92 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Pension Obligation Bonds, Continued
2020 Taxable Pension Obligation Bonds, Series BJ - Original Issuance $219,890,000, Continued The bonds are not secured by any property other than the funds that the City has actually deposited with the Trustee. If the City is in bankruptcy, it may not be obligated to make further deposits with the trustee, it may not be obligated to make any further allocations to the bonds and it may not be obligated to turn over to the trustee any moneys that have been allocated to the Bonds in the City treasury. As a result, the bonds would be treated as unsecured obligations of the City in an bankruptcy case.

Proceeds used from this bond issuance were applied to pension plan fiduciary assets.

The annual debt service requirement for 2020 Taxable Pension Obligations Bonds, Series BJ outstanding at June 30, 2025, is as follows:

Pledged Revenue
The City has pledged certain revenue to the repayment of its Water and Sewer Enterprise Fund bonds through final maturity on May 1, 2047, or earlier. These bonds were issued to refinance Series AF, AY, AZ and BA. All net available revenues are irrevocably pledged by the City to the repayment of the bond’s debt services. During the year ended June 30, 2025, the Water and Sewer Enterprise Funds have net available revenues of $14,402,298 and total debt service paid was $9,338,624. The sewer and Water Revenue Bonds require net revenue of 100% and 120% of debt service, respectively. Annual principal and interest payments on the bonds are expected to require roughly 45% of future net revenue. The total principal and interest remaining to be paid at June 30, 2025, on the Bonds is as follows:

Year Ending June 30, Principal Interest Total
2026 8,555,000$ 5,489,948$ 14,044,948$
2027 8,840,000 5,489,948 14,329,948
2028 9,070,000 5,489,948 14,559,948
2029 9,325,000 5,489,948 14,814,948
2030 9,600,000 5,489,948 15,089,948
2031-2035 52,755,000 22,684,147 75,439,147
2036-2040 59,630,000 12,777,523 72,407,523
2041-2045 37,375,000 2,985,512 40,360,512
2046-2047 1,030,000 40,450 1,070,450 Total 196,180,000$ 65,937,371$ 262,117,371$
93 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Pledged Revenue, Continued

Outstanding Principal on Capital-Related Debt
The City has acquired capital assets through the issuance of bonds and finance purchase obligations. The following is the outstanding balance at June 30, 2025, of capital assets related debt:

Debt issue
Remaining
Balance
2016 Revenue Refunding Bonds, Series BB 11,633,421$
2016 Taxable Revenue Refunding Bonds, Series BD 1,386,634 2017 Refunding Revenue Bonds, Series BE 53,479,750
2017 Taxable Refunding Revenue Binds, Series BF 59,261,335 2018 Revenue Bonds (Sewer Project), Series BH 18,794,455 Total 144,555,595$
Revenue 2024-2025
Net available revenues, excluding debt service 14,402,298$ Outstanding
Capital Related
Debt, net
Governmental Activities
2016 Refunding Revenue Bond, Series BC 18,397,604$
2017 Taxable Lease Revenue Refunding
Bonds, Series BG (24.4%) 43,170,000
Finance Purchase Obligations and SBITA 2,061,131
Total 63,628,735$
Business-Type Activities
Water Enterprise Fund
2017 Refunding Revenue Binds, Series BE 34,783,000$
2017 Taxable Refunding Revenue Bonds, Series BF 40,100,000 Subtotal 74,883,000
Sewer Enterprise Fund
2016 Revenue Refunding Bonds, Series BB 8,411,478
2016 Taxable Revenue Refunding Bonds, Series BD 1,311,080 2018 Taxable Revenue Refunding Bonds, Series BH 11,790,000 Subtotal 21,512,558
Total 96,395,558$
94 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

11. LONG-TERM LIABILITIES, Continued
Subscription Based I.T. Arrangements
GIS services and support
In July 2024, the City entered into a three-year Subscription Agreement as lessee for the use of GIS products and services. An initial subscription liability was recorded in the amount of $2,223,119. As of June 30, 2025, the value of subscription liability is $1,538,084. The subscription has an interest rate of 3%. The accumulated amortization as of June 30, 2025 of $741,040 is included in the capital assets on the Government activities table found in note 9 above. The future principal and interest subscription payments as of June 30, 2025 are as follows:

12. COMPENSATED ABSENCES
The City’s policies relating to compensated absences are described in Note 1. The liability will be paid in future years by the General Fund. In the business-type activities, the liability for vested and unpaid compensated absences (accrued, vacation, sick pay, executive leave, and comp time) is reported in the fund as the benefits are earned and vest. For the business-type activities, the liabilities will be liquidated in future years from the respective enterprise funds.

Subscription Based I.T. Arrangements
Year Ending June 30, Principal Interest Total
2026 737,923$ 36,857$ 774,780$
2027 800,161 13,355 813,516
Total 1,538,084$ 50,213$ 1,588,297$
Balance
June 30, 2024 Additions Deletions
Balance
June 30, 2025
Due in
One Year
Governmental activities 10,537,546$ 10,993,014$ (8,285,616)$ 13,244,944$ 8,245,000$ Business-type activities 1,740,608 1,850,203 (1,114,401) 2,476,410 1,389,000 12,278,154$ 12,843,217$ (9,400,017)$ 15,721,354$ 9,634,000$ 95 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN

Governmental
Activities
Business-Type
Activities Total
Net Pension Assets
Collateral Plan 388,154$ -$ 388,154$ Total net pension assets 388,154$ -$ 388,154$ Deferred Outflows of Resources:

Pension contribution made after measurement date:

Miscellaneous 2,820,706$ 1,216,292$ 4,036,998$ Safety 8,934,665 - 8,934,665 Difference between expected and actual experience:

Miscellaneous 737,018 317,804 1,054,822 Safety 7,627,778 - 7,627,778 Collateral 27,566 - 27,566 Net difference in projected and actual earnings on
pension plan investments:

Miscellaneous 3,881,353 1,673,651 5,555,004 Safety 7,433,141 - 7,433,141 Total deferred outflows of resources 31,462,227$ 3,207,747$ 34,669,974$ Net Pension Liabilities:

Miscellaneous 6,734,463$ 2,551,487$ 9,285,950$ Safety 32,277,520 - 32,277,520 Total net pension liabilities 39,011,983$ 2,551,487$ 41,563,470$ Deferred Inflows of Resources:

Difference between expected and actual experience:

Miscellaneous 116,479$ 38,366$ 154,845$ Net difference in projected and actual earnings on:

Collateral Plan 27,551 - 27,551 Total deferred inflows of resources 144,030$ 38,366$ 182,396$ Pension Expense (Credit):

Miscellaneous 4,524,081$ 1,257,492$ 5,781,573$ Safety 18,026,618 - 18,026,618 Collateral (46,046) - (46,046) Total pension expense 22,504,653$ 1,257,492$ 23,762,145$ 96 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN, Continued
A. CalPERS Plans
General Information about the Pension Plan
Plan Description
The City contributes to the California Public Employees’ Retirement System (“CalPERS”), and participates in one agent multiple-employer public employee defined benefit pension plan. CalPERS acts as a common investment and administrative agent for participating public entities within the State of California. Benefit provisions and all other requirements are established by state statue and City ordinance. A full description of the pension plan regarding number of employees covered, benefit provisions, assumptions (for funding, but not accounting purposes), and membership information are listed in the annual actuarial valuation report. This report and CalPERS’ audited financial statements are publicly available reports that can be obtained at CalPERS’ website under Forms and Publications.

Benefit Provided
CalPERS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries.

The plans’ provisions and benefits in effect for the measurement period ended June 30, 2025 are summarized as follows:

Tier 1* Tier 2* PEPRA
Hire Date Prior to August 14, 2011 On or After
August 14, 2011 to
January 1, 2013
On or after
January 2, 2013
Benefit formula 2.0% @ 55 2.0 @ 60 2.0% @ 62
Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments Monthly for Life Monthly for Life Monthly for Life Retirement age Minimum 50 years Minimum 50 years Minimum 52 years Monthly benefits, as of %
eligible compensation

1.426% - 2.418%,
50 - 63+ years,
respectively

1.092% - 2.418%,
50 - 63+ years,
respectively

1.000% - 2.5000%,
52 - 67+ years,
respectively
Required employee contribution
rates

6.920% 6.920% 6.250%
Required employer contribution
rates

9.77% 9.77% 9.77%
*Plan is closed to new entrants
Miscellaneous Plan
97 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN, Continued
A. CalPERS Plans, Continued

Participant is eligible for non-industrial disability retirement if becomes disabled and has at least 5 years of credited service. There is no special age requirement. The standard non-industrial disability retirement benefits are a monthly allowance equal to 1.8 percent of final compensation, multiplied by service.

Industrial disability benefits are not offered.

An employee’s beneficiary may receive the basic death benefit if the employee dies while actively employed. The employee must be actively employed with the City to be eligible for this benefit. An employee’s survivor who is eligible for any other pre-retirement death benefit may choose to receive that death benefit instead of this basic death benefit. The basic death benefit is a lump sum in the amount of the employee’s accumulated contributions, where interest is currently credited at 7.5 percent per year, plus a lump sum in the amount of one-month salary for each completed year of current service, up to a maximum of six months’ salary. For purpose of this benefit, one month’s salary is defined as the member’s average monthly full-time rate of compensation during the 12 months preceding death.

Upon the death of a retiree, a one-time lump sum payment of $500 will be made to the retiree’s designated survivor(s), or to the retiree’s estate.

Benefit terms provide for annual cost-of-living adjustments to each employee’s retirement allowance.

Beginning the second calendar year after the year of retirement, retirement and survivor allowances will be annually adjusted on a compound basis by 2 percent.

Tier 1* Tier 2* PEPRA
Hire Date Prior to
November 21, 2010
On or After
November 21, 2010 to
January 1, 2013
On or after
January 1, 2013
Benefit formula 3.0% @ 50 3.0% @ 55 2.7% @57
Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments Monthly for Life Monthly for Life Monthly for life Retirement age Minimum 50 years Minimum 50 years Minimum 52 years Monthly benefits, as a % of
eligible compensation

3.000%, 50+ years 2.400% - 3.000%,
50 - 55 years,
respectively

2.000% - 2.700%,
50 - 57+ years,
respectively
Required employee contribution
rates

9.880% 9.880% 12.000%
Required employer contribution
rates

26.250% 26.250% 26.250%
*Plan is closed to new entrants
Safety Plan
98 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN, Continued
A. CalPERS Plans, Continued
Employees Covered by Benefit Terms
At June 30, 2023, the valuation date, the following employees were covered by the benefit terms:

Contributions
Section 20814(c) of the California Public Employees’ Retirement Law (“PERL”) requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. The total plan contributions are determined through CalPERS’ annual actuarial valuation process. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.

Net Pension Liability/(Asset)
Actuarial Methods and Assumptions Used to Determine Total Pension Liability/(Asset) The total pension liability for the Plans used to calculate the net pension liability was determined by actuarial valuations as of June 30, 2023 rolled forward to June 30, 2024 using standard update procedures.

The June 30, 2025 total pension liabilities were based on the following actuarial methods and assumptions:

Miscellaneous Safety
Active members 397 140
Transferred members 330 34
Terminated members 240 25
Retired members and beneficiaries 995 397 Total 1,962 596
Plans
Valuation Date June 30, 2023
Measurement Date June 30, 2024
Actuarial Cost Method Entry Age Actuarial Cost Method
Actuarial Assumptions:

Discount Rate 6.90%
Inflation 2.30%
Projected Salary Increases Varies by Entry age and Service Mortality Rate Table (1) Derived using CalPERS Membership Data for all funds Post Retirement Benefit Increase
the lesser of Contract COLA or 2.3% until Purchasing Power Protection Allowance Floor on Purchasing Power applies
(1) The probabilities of mortality are based on the 2017 CalPERS Experience Study and review of Actuarial assumptions. Mortality rates incorporate full generational mortality improvement using 80% of scale MP-2020 published by society of Actuaries. For more details on this table, please refer to 2021 experience study report from November 2021 that can be found on CalPERs website.
99 City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN, Continued
A. CalPERS Plans, Continued
Long-Term Expected Rate of Return
The long-term expected rate of return on pension plan investments was determined using a building- block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. Projected returns for all asset classes are estimated and, combined with risk estimates, are used to project compound (geometric) returns over the long term. The discount rate used to discount liabilities was informed by the long-term projected portfolio return.

The expected real rates of return by asset class are as follows:

Discount Rate
The discount rate used to measure the total pension liability was 6.90 percent. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members.

Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

Asset Class
Assumed Asset
Allocations
Real Return
(1,2)
Global Equity-Cap weighted 30.00% 4.54%
Global Equity-Non- Cap weighted 12.00% 3.84%
Private Equites 13.00% 7.28%
Treasury 5.00% 0.27%
Mortgage Backed Securities 5.00% 0.50%
Investment Grade Corporates 10.00% 1.56%
High Yield 5.00% 2.27%
Emerging Market Debt 5.00% 2.48%
Private Debt 5.00% 3.57%
Real Assets 15.00% 3.21%
Liquidity -5.00% -0.59%
Total 100.00%
(1) An expected inflation of 2.30% used for this period. (2) Figures are based on the 2021 Asset Liability Management Study. 100
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN, Continued
A. CalPERS Plans, Continued
Changes in the Net Position Liability/(Asset)
The following tables show the changes in net pension liability recognized over the measurement period.

Miscellaneous Plan
Total Pension
Liability (a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability
(c) = (a) - (b)
Balance at June 30, 2023 (Valuation Date) 343,373,181$ 328,006,845$ 15,366,336$ Changes Recognized from the Measurement Period
Service Cost 5,335,200 - 5,335,200 Interest on the Total Pension Liability 23,322,153 - 23,322,153 Differences between Expected and Actual Experience 1,866,223 - 1,866,223 Contribution from the Employer - 3,538,530 (3,538,530) Contribution from Employees - 2,647,601 (2,647,601) Net Investment Income - 30,684,731 (30,684,731) Benefit Payments including Refunds of Employee
Contributions (19,809,531) (19,809,531) -
Administrative Expense - (266,900) 266,900 Net Change during July 1, 2023 to June 30, 2024 10,714,045 16,794,431 (6,080,386) Balance at June 30, 2024 (Measurement Date) 354,087,226$ 344,801,276$ 9,285,950$ Increase (Decrease)
Safety Plan
Total Pension
Liability (a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability
(c) = (a) - (b)
Balance at June 30, 2023 (Valuation Date) 458,486,113$ 426,032,642$ 32,453,471$ Changes Recognized from the Measurement Period
Service Cost 6,732,792 - 6,732,792 Interest on the Total Pension Liability 31,550,382 - 31,550,382 Differences between Expected and Actual Experience 8,865,506 - 8,865,506 Contribution from the Employer - 5,749,413 (5,749,413) Contribution from Employees - 2,306,374 (2,306,374) Net Investment Income - 39,615,508 (39,615,508) Benefit Payments including Refunds of Employee
Contributions (26,932,197) (26,932,197) -
Administrative Expense - (346,664) 346,664 Net Change during July 1, 2023 to June 30, 2024 20,216,483 20,392,434 (175,951) Balance at June 30, 2024 (Measurement Date) 478,702,596$ 446,425,076$ 32,277,520$ Increase (Decrease)
101
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN, Continued
A. CalPERS Plans, Continued

Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the plans as of the measurement date, calculated using the discount rate of 6.90%, as well as what the net pension liability would be if it were calculated using a discount rate that is 1 percentage-point lower (5.90%) or 1 percentage-point higher (7.90%) than the current rate:

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

Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related to Pensions For the measurement period ending June 30, 2025, the City incurred a pension expense of $5,781,573 and $18,026,618 for Miscellaneous and Safety plans, respectively.

As of measurement date of June 30, 2024, the City has deferred outflows and deferred inflows of resources related to pensions as follows:

Discount Rate
-1% (5.90%)
Current
Discount Rate
(6.90%)
Discount Rate
+1% (7.90%)
Miscellaneous Plan 54,135,870$ 9,285,950$ (27,805,665)$ Safety Plan 94,522,223$ 32,277,520$ (18,810,899)$ Plan's Net Pension Liability
Deferred outflows
of resources
Deferred inflows
of Resources
Deferred outflows
of resources
Deferred inflows
of Resources
Pension contribution after measurement date 4,036,998$ -$ 8,934,665$ -$ Differences between expected and actual experiences 1,054,822 154,845 7,627,778 - Net difference between projected and actual
earnings 5,555,004 - 7,433,141 - Total 10,646,824$ 154,845$ 23,995,584$ -$ Miscellaneous Plan Safety Plan
102
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN, Continued
A. CalPERS Plans, Continued

The expected average remaining service lifetime (“EARSL”) is calculated by dividing the total future service years by the total number of plan participants (active, inactive, and retired). The EARSL for the miscellaneous plan and safety plan for the 2023-24 measurement period is 2.3 and 2.7 years, which was obtained by dividing the total service years of 4,549 and 1,616 (the sum of remaining service lifetimes of the active employees) by 1,962 and 596 (the total number of participants: active, inactive, and retired), respectively.
$4,036,998 and $8,934,665 reported as deferred outflows of resources related to pension resulting from the City’s contributions subsequent to the measurement date during the year ended June 30, 2025 will be recognized as a reduction of the net pension liability in the year ending June 30, 2026. Other amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in future pension expense as follows:

B. Collateral Benefits Plan

General Information about the Pension Plan
Plan Description
The Collateral Benefits Plan, which is a single-employer plan, provides a supplemental retirement benefit to City employees upon resigning from the City and concurrently retiring with CalPERS. The supplemental benefit is a monthly benefit of $100 from the first of the month following retirement from the City until the age of 65 on Tier 1 and Tier 2 employees. Tier 1 employees include Mid-Management and Confidential, Police Officers’ Association, City Employees’ Association, and Management Group B employees, and are required to have at least 20 years of City service upon retiring after July 1, 1987. Tier 2 employees include Executive Management Group A employees and are required to have at least one year of City service upon retiring after July 1, 1991. Employees hired after July 1, 2012, are not eligible for this plan.

Year Ending
June 30, Miscellaneous Safety
2025 $139,200 4,653,272$
2026 9,293,534 14,161,734
2027 (1,266,545) (1,575,601)
2028 (1,711,208) (2,178,486)
Total 6,454,981$ 15,060,919$
Deferred of Outflows
/(Inflows) of
103
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN, Continued
B. Collateral Benefits Plan, Continued

Eligibility

Benefit Provided
As discussed in the plan description and eligibility above, the Plan provides a monthly benefit of $100 until the age of 65 for the eligible retirees.

Employees Covered by Benefit Terms
At June 30, 2024, the valuation date, the following employees were covered by the benefit terms:

Contributions
There was no contribution to the Plan during the fiscal year ended June 30, 2025.

Actuarial Methods and Assumptions Used to Determined Total Pension Liability The June 30, 2024 valuation was used to determine the June 30, 2025 total pension liability, based on the following actuarial methods and assumptions.

Bargaining Group City Service
Executive Management Group B, Mid-Management/Confidential Employees' Association, City Employees' Association, Police Officers' Association 20 years
Executive Management Group A 1 year
Police Management Not Eligible
Active Employees 49
Terminated employees 75
Retired Employees 26
150
Actuarial Cost Method Entry Age Normal
Amortization Methods:

Level Percent or Level Dollar Level Dollar
Closed, Open, or Layered Periods Closed
Amortization Period at June 30, 2024 1.5 years
Amortization Growth 0.00%
Actuarial Assumptions:

Discount Rate 6.50%
Inflation N/A
Salary Increases Not applicable
Cost of Living Not applicable
Investment Rate of Return 6.50% Net of Pension Plan Investment and Administrative Expenses, Includes inflation
Mortality Rate Pre-Retirement: Consistent with the Non- Industrial rate used to value the Miscellaneous Public Agency CalPERS Pension Plans.

Post-Retirement: Consistent with the Non-Industrial rates used to value the Miscellaneous Plan Agency CalPERS Pension.

Post Retirement Benefit Increase
Consistent with the Non- Industrial rates used to value the Miscellaneous Public Agency CalPERS Pension Plans.
104
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN, Continued
B. Collateral Benefits Plan, Continued
Discount Rate
The discount rate used to measure the total pension liability was 6.50 percent. The long-term expected rate of return is determined by adding expected inflation to expected long-term real returns and reflecting expected volatility and correlation. The plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the discount rate for calculating the total pension liability is equal to the long-term expected rate of return.

Long-Term Expected Rate of Return
The assumption for the long-term expected rate of return was selected by the City. Below is a projection of the 30-year average return derived by adding expected inflation to expected long-term real returns and reflecting expected volatility and correlation on the Plan’s current asset allocation.

The table below reflects long-term expected real return adjusted for inflation by asset classes:

Asset Class Index Target Allocation
Long-Term
Expected
Arithmetic
Real
Rate of Return
Long-Term
Expected
Geometric
Real
Rate of Return
US Cash BALM 3-Mon Tbill 2.00% 0.83% 0.80%
US Corporate Bonds Bloomberg US Corp Bond TR 44.50% 2.91% 2.65% US High Yield Bonds ICE BofA US High Yield TR 3.50% 4.03% 3.48% US Large Cap Equity S&P 500 TR 28.50% 5.39% 3.78%
US Small Cap Equity Russell 2000 TR 1.50% 6.80% 4.22%
Foreign Developed Equity MSCI EAFE NR 11.25% 6.61% 4.79% Emerging Markets Equity MSCI EM NR 3.75% 8.78% 5.73%
US ERIETs FTSE NAREIT Equity REIT 2.50% 6.71% 4.46%
Infrastructure - Public S&P Global Infrastructure TR 2.50% 5.68% 4.18% 100.00%
Assumed Inflation - Mean 2.28% 2.28%
Assumed Inflation - Standard Deviation 1.47% 1.47%
Portfolio Real Mean Return 4.47% 3.86%
Portfolio Nominal Mean Return 6.75% 6.25%
Portfolio Standard Deviation 10.55%
City's Long-Term Expected Rate of Return 6.50%
105
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN, Continued
B. Collateral Benefits Plan, Continued
Changes in Net Pension Liability
The following table shows the changes in net pension liability recognized over the measurement period.

Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the Plan as of the measurement date, calculated using the discount rate of 6.50%, as well as what the net pension liability would be if it were calculated using a discount rate that is 1 percentage-point lower (5.50%) or 1 percentage-point higher (7.50%) then the current rate.

Pension Plan Fiduciary Net Position
Detailed information about the plan’s fiduciary net position is available upon request.

Total Pension
Liability (a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability
(c) = (a) - (b)
Balance at June 30, 2023 (Measurement Date) 635,058$ 723,109$ (88,051)$ Changes Recognized from the Measurement Period
Service Cost 1,446 - 1,446 Interest on the Total Pension Liability 38,388 - 38,388 Employer Contributions - 261,388 (261,388) Net Investment Income - 78,863 (78,863) Benefit Payments including Refunds of Employee
Contributions (93,300) (93,300) - Administrative Expense - (314) 314 Net Change during July 1, 2024 to June 30, 2025 (53,466) 246,637 (300,103) Balance at June 30, 2024 (Measurement Date) 581,592$ 969,746$ (388,154)$ Discount Rate
-1% (5.50%)
Current
Discount Rate
(6.50%)
Discount Rate
+1% (7.50%)
(366,720)$ (388,154)$ (408,304)$ Plan's Net Pension Liability (Asset)
106
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

13. DEFINED BENEFIT PENSION PLAN, Continued
B. Collateral Benefits Plan, Continued
Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related to Pension For measurement period ended June 30, 2025, the City incurred a pension expense(revenue) of $(46,046).

As of measurement date of June 30, 2025, the City has deferred outflows and deferred inflows of resources related to pensions as follows:

The amounts above are net of outflows and inflows recognized in the 2024-2025 measurement period expense.

Amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in the future pension expense as follows:

Deferred
Outflows of
Resources
Deferred
inflows of
Resources
Differences between expected and actual
experience 27,566$ -$
Changes of assumptions - -
Net difference between projected and
actual earnings - (27,551)
27,566$ (27,551)$
Collateral Benefits Plan
Year Ending
June 30,
Deferred
Outflows/(Inflows)
of Resources
2026 8,841$
2027 (62)
2028 (1,793)
2029 (6,971)
15$
107
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

14. OTHER POST-EMPLOYMENT BENEFITS (OPEB)
At June 30, 2025, Total OPEB liabilities, related deferred outflows of resources and OPEB expense are as follow:

A. General Information About Public Employees’ Medical and Hospital Care Program (“PEMHCA”) Plan (“OPEB”)
The City has participated in the CalPERS Health Plan since 1988, a single-employer defined benefit pension plan. The City provides eligible retirees a contribution based on the “unequal method” under the Public Employees’ Medical and Hospital Care Program (PEMHCA) contribution requirements for participating employers. Under the “unequal method,” the City’s contribution for the retiree is equal to 100% of the active contribution after 20 years of participation in PEMHCA. Eligibility for continuing medical coverage requires retirement from the City (on or after age 50 with at least 5 years of CalPERS service) and commencement of the CalPERS pension benefit. Retirement under disability does not have an age requirement.

Employees of the City who retire through CalPERS, their spouses, and eligible dependents, may receive health plan coverage through PEMCHA Plan (the “Plan”). The Plan is a single employer defined benefit plan which provides the retirees a monthly medical contribution that is not to exceed the cost of the plan selected, with the maximum contribution limited for individual retirees based on bargaining groups as listed below:

Governmental
Activities
Business-Type
Activities Total
Deferred Outflows of Resources:

OPEB contribution made after measurement date 2,241,769$ 429,866.07$ 2,671,635$ Difference between expected and actual experience 1,494,555 286,586 1,781,141 Changes in assumption 661,863 126,914 788,777 Total deferred outflows of resources 4,113,543$ 1,128,010$ 5,241,553$ Total OPEB Liabilities: 70,853,502$ 17,085,777$ 87,939,280$ Deferred Inflows of Resources:

Changes in assumption 9,618,795$ 1,844,434$ 11,463,229$ Difference between expected and actual experience 1,519,282 291,327 1,810,609 Total deferred inflows of resources 10,528,621$ 2,745,217$ 13,273,838$ OPEB Expense (Revenue) 3,659,586$ 701,737$ 4,361,323$ 108
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

14. OTHER POST-EMPLOYMENT BENEFITS (OPEB), Continued
A. General Information About Public Employees’ Medical and Hospital Care Program (“PEMHCA”) Plan (“OPEB”), Continued

Police Management retirees with at least 22 years of service as a Police Officer, receive up to 90% contribution towards more expensive 2-party CalPERS plan premium. This benefit terminates once the retiree is eligible for Medicare (age 65). This provision has been eliminated for employees hired or promoted to the unit after July 1, 2011.

Eligibility
Membership in the Plan consisted of the following December 31, 2024, the date of the latest actuarial valuation:

Contributions
The City currently finances benefits on a pay-as-you-go basis.

Bargaining Group Benefit
Pomona City Council Members 700$
Pomona Executive Management Group 700
Pomona Mid-Management/Confidential Employees' Association 700 Pomona City Employees' Association 700
Pomona Police Managers' Association 700
Pomona Police Officers' Association 700
Firefighters (Pre-Merger with Los Angeles County Fire District) 465 109
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

14. OTHER POST-EMPLOYMENT BENEFITS (OPEB), Continued
B. Total OPEB Liability
Total OPEB Liability
The City’s net OPEB liability was measured as of December 31, 2024 and total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation as of January 1, 2025. The total OPEB liability at December 31, 2024, measurement date was $87,939,280.

Actuarial Assumptions
The total OPEB liability in the January 1, 2025 actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement, unless otherwise specified:

Change of Assumption
In 2025, the discount rate assumption changed from 4.00% to 4.28% from the measurement date December 31, 2023 to the measurement date December 31, 2024.

Discount Rate

4.28% per annum. Discount rate as of the Measurement Date has been updated to be based on a yield for 20-year tax-exempt general obligation municipal bonds with an average rating of AA/Aa or higher (or equivalent quality on another rating scale) tax-exempt, high quality 20-year municipal bonds. The prior valuation used a discount rate of 4.00%. The valuation uses a discount rate of 4.28%. This change has caused a decrease in liabilities.
110
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

14. OTHER POST-EMPLOYMENT BENEFITS (OPEB), Continued
C. Change in the Total OPEB Liability
The following table shows the changes in the net OPEB liability recognized over the measurement period:

Sensitivity of the Total OPEB Liability to Changes in the Discount Rate The following presents the total OPEB liability of the City, as well as what the City’s total OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower (3.28 percent) or 1- percentage-point higher (5.28 percent) than the current discount rate:

Sensitivity of the Net OPEB Liability to Changes in the Health Care Cost Trend Rates The following presents the total OPEB liability of the City, as well as what the City’s total OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower than the current healthcare cost trend rates:

OPEB
Total OPEB
Liability (a)
Plan Fiduciary
Net Position
(b)
Net OPEB
Liability
(c) = (a) - (b)
Balance at December 31, 2023 (Measurement Date) 87,016,225$ -$ 87,016,225$ Changes Recognized from the Measurement Period
Service Cost 2,569,711 2,569,711
Interest on the Total Pension Liability 3,476,187 3,476,187 Employer contribution 5,415,608 (5,415,608)
Changes of Assumptions (1,686,281) (1,686,281)
Differences between Expected and Actual Experience 1,979,048 1,979,048 Benefit Payments including Refunds of Employee (5,415,608) (5,415,608) - Net Change during January 1, 2024 to December 31, 2024 923,055 - 923,055 Balance at December 31, 2024 (Measurement Date) 87,939,280$ -$ 87,939,280$ Increase (Decrease)
Discount Rate
-1.0% (3.28%)
Current Discount
Rate (4.28%)
Discount Rate
+1% (5.28%)
97,763,247$ 87,939,280$ 79,641,135$
Plan's Total OPEB Liability (Asset)
Plan's Total OPEB Liability / (Asset)
-1% lower than
Current Trend Current Trend
1% higher than
Current Trend
77,817,985$ 87,939,280$ 100,256,905$
111
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

14. OTHER POST-EMPLOYMENT BENEFITS (OPEB), Continued
D. OPEB Expense and Deferred Outflows of Resources Related to OPEB For the fiscal year ended June 30, 2025, the City recognized OPEB expenses in the amount of $4,361,323.

At June 30, 2025, the City reported deferred outflows of resources related to OPEB from the following sources:

The $2,671,635 reported as deferred outflows of resources related to OPEB resulting from the City’s contributions subsequent to the measurement date during the year ended June 30, 2025 will be recognized as a reduction of the net OPEB liability in the year ending June 30, 2026. Other amounts reported as deferred outflows of resources related to OPEB will be recognized in future OPEB expense as follows:

Deferred outflows
of resources
Deferred inflows
of resources
Employer contribution after measurement date 2,671,635$ -$ Differences between expected and actual experience 1,781,141 (1,810,609) Changes of assumptions 788,777 (11,463,229) 5,241,553$ (13,273,838)$
Year Ending
June 30,
Deferred
Outflows/(Inflows)
of Resources
2026 (3,056,246)$
2027 (3,594,985)
2028 (3,202,016)
2029 (452,772)
2030 (152,152)
Thereafter (245,749)
Total (10,703,920)$
112
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

15. JOINT POWERS AGREEMENTS
A. Alameda Corridor-East Construction Authority
The City approved and adopted a Joint Exercise of Powers Agreement in November 2012. The Alameda Corridor East Construction Authority (ACE) is a single purpose construction authority created by the San Gabriel Council of Governments in 1998 to mitigate the impacts of significant increases in rail traffic over 70 miles of mainline railroad in the San Gabriel Valley. The ACE Project consists of multiple construction projects to improve safety at various rail crossings as well as at various grade separations in the San Gabriel Valley. There were no payments made during the year ended June 30, 2025.

B. California State Association of Countries Excess Insurance Authority The City became a member of California State Association of Countries Excess Insurance Authority (the “CSAC-EIA”) in July 2008. The CSAC-EIA is a risk sharing pool of California public agencies dedicated to controlling losses and providing effective risk management solutions. Membership is currently comprised of various member counties and various public entity organizations. The governing board consists of one representative from each member county and seven members elected by the public entity membership. Also see Note 17.

C. Foothill Air Support Team
The City joined Foothill Air Support Team (“FAST”) in January 2011. FAST was developed in 1999 creating a joint helicopter patrol operation that could enhance member agencies ability to deter criminal activity and apprehend offenders. The governing board consists of one representative from each of the seven member agencies. There were no payments made during the year ended June 30, 2025.

D. Foothill Transit
The City is a member of the Foothill Transit Joint Power Agreement. The JPA is comprised of 20 cities and the County of Los Angeles. The purpose of the authority is to provide a more efficient and cost-effective local transportation service for the area. Each member city has one representative, and three members are appointed by the Board of Supervisors. There were no payments made during the year ended June 30, 2025.

Below are the most currently available condensed audited financial statements of the JPA as of June 30, 2025. Separate financial statements of Foothill Transit are available from its offices located in West Covina, California.

113
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

15. JOINT POWERS AGREEMENTS, Continued
D. Foothill Transit, Continued

E. Gold Line Phase II Construction Authority
The City participates in the Gold Line Phase II Construction Authority (“GLCA”) joint venture, which became effective September 3, 2003. The GLCA oversees the planning, funding, designing and construction contracts for the completion of the Los Angeles-Pasadena Metro Blue Line light rail project.

The GLCA’s governing Board is comprised of an appointed representative from each of the affected cities and agencies, including the cities of Azusa, Claremont, Duarte, Glendora, Arcadia, La Verne, Ontario, Montclair, Irwindale, Pomona, San Dimas, Monrovia, Pasadena, and South Pasadena, and the San Bernardino County Transportation Authority. Los Angeles County Metropolitan Transportation Agency (“LACMTA”) will have the responsibility to operate and maintain the rail after its completion. Member agencies will be paid for attending meetings, not to exceed $1,800 per year, per member agency, plus direct expenses. Member agencies are not allowed to withdraw from the GLCA, and each member agency is required to pay $31,445 in initial dues (first payments were due October 1, 2003) and each member will be held liable for its share of operating costs.

The City had no payments for the joint venture during the year ended June 30, 2025. Assets are divided based on the proportionate equity share at the time the joint venture dissolves, which is currently not significant to the City.

Assets 406,113,454$
Liabilities 193,616,273
Net Position 212,497,181$
Revenues 150,516,377
Expenses 182,230,541
Operating Income (31,714,164)
Capital Contributions 14,104,376
Change in net position (17,609,788)
Net Position - July 1, 2024 243,710,502
Net Position - June 30, 2025 226,100,714$
114
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

15. JOINT POWERS AGREEMENTS, Continued
F. Interagency Communication Interoperability System
The City participates in the Interagency Communications Interoperability System (“ICIS”) joint powers authority which became effective September 2003. The intent of ICIS is to provide public safety agencies with a formalized governance structure through which the participants may share resources to construct and manage a system for wide-area communications interoperability. The governing board is comprised of one member from each of the seven member agencies. The City paid $50,000 in annual dues for the fiscal year ending June 30, 2025.

G. Los Angeles County Disaster Management Area D
The City has participated in the Disaster Management Area D joint powers agreement (Area D JPA) since 1958. The Area D JPA is intended to promote the coordination of disaster management, training, and preparedness of the Area D member cities under the direction of the Disaster Management Area Board, the governing board includes on representative from each of the 23 member cities. Annual dues at the rate of $0.05 per capita are paid and totaled $9,079 for the fiscal year ending June 30, 2025.

H. Los Angeles Interagency Metropolitan Police Apprehensive Crime Task Force The City joined the Los Angeles Interagency Metropolitan Police Apprehensive Crime Task Force (“LA Impact”) in March 2011. It is a compilation of numerous federal, state, and local law enforcement agencies in Los Angeles County, whose primary purpose is to investigate major crimes, with an emphasis on dismantling mid-to-major level drug trafficking organizations. Since its inception, LA Impact has grown to 80 officers from 35 different Los Angeles County law enforcement agencies. The City is solely responsible for the salary and benefits of one (1) Police Sergeant position, currently assigned to this program, which is fully funded within the Police Department’s General Fund budget. There were no payments made during the year ended June 30, 2025.

I. Pomona Valley Transportation Authority
The City is a member of the Pomona Valley Transportation Authority (the “PVTA”). The PVTA is comprised of four cities and is organized under a Joint Power Agreement pursuant to the California Government Code. The purpose of the PVTA is to study, implement and provide for public transportation. that will best serve transit-dependent persons, including handicapped and senior adults residing in the Pomona Valley.

Each member City has two representatives on the Board of Directors. Officers of the PVTA are elected annually by the Board of Directors.

The City does not have an equity interest in the PVTA. However, the City does have an ongoing financial interest. Because the City also has an ongoing financial responsibility for continued funding of the PVTA, the City is able to influence operations. As a result, the PVTA uses its resources on behalf of the City.

115
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

15. JOINT POWERS AGREEMENTS, Continued
I. Pomona Valley Transportation Authority, Continued
The following are the most currently available condensed audited financial statements of the PVTA as of June 30, 2025. Separate financial statements of the PVTA are available from its offices located in La Verne, California.

J. Pomona-Walnut-Rowland Joint Water Line Commission
The City participates in the Pomona-Walnut-Rowland Joint Water Line Commission (the “Commission”) joint venture, which provides for the acquisition, construction, maintenance, repair, and operation of a water transmission pipeline for the benefit of the member agencies. The Pomona-Walnut-Rowland Joint Water Line Commission’s governing board is comprised of an appointed representative from each of the three member agencies – the City, Walnut Valley Water District, and Rowland Water District.

The cost of providing water to the member agencies is financed through user charges. The Commission purchases water for resale to the member agencies at a price sufficient to provide reserve funds for emergencies. In addition, the member agencies are billed for the costs of maintenance and operation of the pipeline. The City paid the joint venture $2,544,040 during the year ended June 30, 2025. Assets are divided based on the proportionate equity share at the time the joint venture dissolves. The City’s share in the equity of the Commission at June 30, 2025, was $661,501.

Assets 6,484,759$
Deferred Outflows 201,930
Total Assets 6,686,689$
Liabilities 2,246,478$
Deferred Inflows 10,343
Net position 4,429,868
Total liabilities and fund equity 6,686,689$
Operating revenues 166,070$
Operating expenses 5,997,580
Operating (Loss) (5,831,510)
Non-Operating Revenue 5,844,263
Net income 12,753
Net Position - July 1, 2024 4,417,115
Net Position - June 30, 2025 4,429,868$
116
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

15. JOINT POWERS AGREEMENTS, Continued
J. Pomona-Walnut-Rowland Joint Water Line Commission, Continued As of June 30, 2025, the three participants had the following approximate ownership equity interest.

The Commission’s condensed financial statements for the fiscal year ended June 30, 2025 is as follows:

The Commission does not recognize income or loss. Net operating expenditures in excess of users’ assessments are treated as accounts receivable on the Commission’s books and charged to each user’s account in the following year. Conversely, user’s assessments in excess of net operating expenditures are treated as a liability and credited against each user’s account, also in the following year. Under the basis, operating expenses for the Commission totaled $18,331,798 compared to total operating revenues of $18,324,232 for the year ended June 30, 2025. Complete financial statements can be obtained from the Pomona-Walnut-Rowland Joint Water Line Commission, P.O. Box 8460, Rowland Heights, CA 91748.

K. San Gabriel Valley Council of Governments
The City is a member of the San Gabriel Valley Council of Governments (the “Council”) which became effective March 1994. The Council provides member agencies a vehicle to voluntarily engage in regional and cooperative planning and coordination of government services and responsibilities to assist member agencies in the conduct of their affairs. The goal and intent of the Council is one of voluntary cooperation among members for the collective benefit of cities and unincorporated areas in the San Gabriel Valley.

The governing board is comprised of one member from each of 31 member cities and the San Gabriel Valley Water Districts, except the County of Los Angeles. The County has three members who represent the unincorporated communities of Supervisor Districts 1, 4, and 5. All member agencies pay dues. The City paid $41,239 in annual dues for the fiscal year ending June 30, 2025.

Member Percentages
Agreement
Balances
City of Pomona 20% 661,501$
Walnut Valley Water District 33% 1,098,251
Rowland Water District 21% 710,728
Unallocated 27% 896,987
100% 3,367,467$
Total Assets 8,025,512$
Total Liabilities 4,658,045
3,367,467$
117
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

15. JOINT POWERS AGREEMENTS, Continued
L. Tri-City Mental Health Center
The City is a member of the Tri City Mental Health Center (the “Center”). The Center is a jointly governed organization comprised of three cities and is organized under a Joint Powers Agreement pursuant to the California Government Code. The purpose of the Center is to develop mental health services and facilities to serve persons residing in the three member cities. The City’s contribution to the Center was $43,675 for the year ended June 30, 2025.

The Board of Directors is comprised of seven members, two councilmembers from Pomona, one councilmember each from the cities of Claremont and La Verne, and one non-elected member from each of the three cities.

Below are the most currently available condensed unaudited financial statements of the Center as of June 30, 2025. Separate financial statements of the Center are available from its offices located in Pomona, California.

Assets 89,213,677$
Deferred outflows of resources 5,355,114
Liabilities 29,551,160
Deferred inflows of resources 12,986,226
Net position 52,031,405
Revenues 19,195,456$
Expenses 35,410,756
Operating Income (Loss) (16,215,300)
Non-Operating Revenue (expenses) 25,887,227
Net Income 9,671,927
Net Position, July 1, 2024 42,359,478
Net Position, June 30, 2025 52,031,405$
118
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

16. RISK MANAGEMENT
The Self-Insurance Internal Service Fund is part of the City’s self-insurance program for general liability, workers’ compensation, and unemployment insurance. The City is a member of the California State Association of Counties Excess Insurance Authority (CSAC-EIA). Through CSAC-EIA, the City has a program limit of $25 million dollars with a self-insured retention of $1 million for its excess liability program and its worker’s compensation program. Additionally, the City purchases catastrophic excess liability coverage that provides an additional $25 million in coverage.

CSAC-EIA is a governmental joint powers authority created by certain California counties and cities to provide a pooled approach to the members’ liability and excess workers’ compensation coverage as allowed under the California Government Code. The authority manages various types of pooled coverage programs for participating members.

As of June 30, 2025, estimated claims payable amounted to $33,804,862.

The estimated claims payable is reported at June 30, 2025 if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated.

During the past three fiscal years, the City did not experience settlements or judgments that exceeded pooled coverage. There are no pending claims and judgements likely to have a material adverse effect on the fiscal position due within one year of June 30, 2025. The following is a summary of changes in claims liabilities over the past three fiscal years:

Beginning
Balance
Expenses and
Changes in
Estimates
Claims
Payments
Ending
Balance
June 30, 2023 39,262,949$ 3,850,976$ (11,665,664)$ 31,448,261$ June 30, 2024 31,448,261 5,231,624 (6,417,885) 30,262,000 June 30, 2025 30,262,000 14,048,270 (10,505,408) 33,804,862 119
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

17. COMMENTS AND CONTINGENCIES
A. Agency Participation Agreement
On July 24, 2024, the City entered into a reclaimed water agreement with Los Angeles Cunty Sanitation District (LACSD). The agreement is for 25 years and expires on July 23, 2049. This contract replaces the 2004 contract and amendment. The Agreement defines the terms through which the City receives and pays for recycled water. The cost of purchasing recycled water varies each year depending on how much recycled water is available, how much the City purchased and the actual cost to produce the recycled water. Additionally, the Agreement delineates the City’s recycled water infrastructure at the Plant including City owned and maintained pumps, telemetry, pipeline, and appurtenances. The Plant is located at 295 Humane Way, Pomona, CA 91766 is the source facility for all recycled water to the City.

Within the Agreement the City will receive an annual amount not to exceed ten million gallons per day (MGD). However, this amount is not an amount the Plant is currently capable of producing, and therefor provision for recycled water within this Agreement specify the City shall receive no more than 2/3 of the recycled water produced, less recycled water first sent to the Spadra landfill.

B. Contractual Commitments
The following schedule summarizes the major capital project contractual commitments of the City as of June 30, 2025.

C. Lawsuits
The City is a defendant in certain other legal actions arising in normal course of operations. As of June 30, 2025, in the opinion of City management, there was no additional outstanding matters that would have a significant effect on the financial position of the City.

Vendors
Gentry Brothers, Inc. 15,955,612$
PUB Construction, Inc. 6,047,219
ARC Construction, Inc.. 3,197,273
Dewberry Design-Builders, Inc. 2,471,724
Cognizant Technology Solutions 2,047,999
HR Green Pacific, Inc. 2,223,265
R K A Consulting Group 1,375,800
Craftwater Engineering, Inc. 1,003,933
Landscape Structures, Inc. 895,661
Watry Design, Inc. 509,736
DASH Construction Company, Inc. 481,299
Willdan Engineering 463,203
C.S. Legacy Construction, Inc. 364,041
Converse Consultants 259,237
Cumming Management Group, Inc. 252,363
All Other Commitments 3,876,387
41,424,751$
120
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

18. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY On June 28, 2011, Governor Jerry Brown signed into law two bills that amended California Community Redevelopment Law in order to address the state’s ongoing budget deficit. ABx1 26 (“the Bill”) dissolved all California redevelopment agencies (“RDAs”) effective October 1, 2011. This legislation prevented RDAs from engaging in new activities and outlined a process for winding down the RDAs financial affairs. It also set forth a process for distributing funds from the former RDAs to other local taxing entities. A companion bill, ABx1 27, was also passed, which allowed individual RDAs to avoid dissolution if they agreed to make substantial annual payments into a Special District Allocation Fund and Educational Revenue Augmentation Fund.

In response, the California Redevelopment Association, the League of California Cities, and other parties filed petitions with the California Supreme Court challenging the constitutionality of both ABx1 26 and ABx1 27.

On December 29, 2011, the California Supreme Court upheld the constitutionality of ABX1 26, while striking down ABx1 27 as unconstitutional. The ruling in California Redevelopment Association V. Matosantos also extended some of the deadlines on February 1, 2012, with the assets and liabilities transferred to Successor Agencies and Successor Housing Agencies pursuant to ABx1 26.

The California State Legislature made additional changes to the dissolution process when Governor Jerry Brown signed AB 1484 into law on June 27, 2012. This legislation made a variety of substantive amendments to the original Dissolution Act. These actions impacted the reporting entity of the City of Pomona that previously had reported a redevelopment agency within the reporting entity of the City as a blended component unit.

The Bill provides that upon dissolution of a redevelopment agency, either the City of another unit of local government would agree to serve as the “successor agency” to hold the assets until the assets were distributed to other units of state and local government. On January 9, 2012, the City Council adopted resolution number 2012-8 electing to assume the responsibility of Successor Agency for the former Pomona Redevelopment Agency.

After enactment of the law, redevelopment agencies in the State of California could not enter into new projects, obligations or commitments. Subject to the control of an established oversight board, remaining assets can only be used to pay enforceable obligations in existence at the date of dissolution. Subsequent to the dissolution, Successor Agencies are only allocated revenue up to the amount necessary to pay the estimated annual installment payments on enforceable obligation of the former redevelopment agency until all enforceable obligations have been paid in full and all assets have been liquidated.

The Bill directed the State Controller of the State of California to review the propriety of any transfers of assets between Redevelopment Agencies and other public bodies that occurred after January 1, 2011. If the public body that received such transfers was not contractually committed to a third party for the expenditure or encumbrance of those assets, the State Controller was required to order the available assets to be transferred to the public body designated as the successor agency by the Bill. The State completed its required audit and provided the Successor Agency its report on November 26, 2014.

121
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

18. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
Management believes, in consultation with legal counsel, that the obligations of the former Redevelopment Agency due to the City are valid enforceable obligations payable by the Successor Agency trust under the requirements of the bill. The City’s position on the issue is not a position of settled law and there is considerable legal uncertainty regarding this issue. It is reasonably possible that a legal determination may be made at a later date by an appropriate judicial authority that would resolve this issue unfavorably to the City.

In accordance with the timeline set forth in the Bill (as modified by the California Supreme Court on December 29, 2011) all redevelopment agencies in the State of California were dissolved and ceased to operate as a legal entity as of February 1, 2012.

A. Cash and Investments
The following is a summary of cash and investments of the Successor Agency at June 30, 2025:

The Successor Agency’s cash and investments are pooled with the City’s cash and investment in order to generate optimum interest income. The share of the pooled cash account is separately accounted for, and investment income is allocated to all participating funds based on the relationship of average quarterly cash balances to the total of the pooled cash and investments. Information regarding the authorized types of deposits and investments, the type of risk (i.e., credit, interest rate, custodial, etc.) and other disclosures associated with the City’s pooled cash and investments is reported in Note 2.

B. Loans Receivable (Net)
At June 30, 2025, the Successor Agency’s net loans receivable consisted of the following:

Business Assistance Loans
The former Redevelopment Agency entered into business assistance loan agreements with local businesses for redevelopment purposes. The term of the loan varies, and bears interest rates ranges from 0% to 4% annum. Outstanding balance at June 30, 2025 was $1,660,000.

Cash and investments 8,407,120$
Restricted Cash 20,153,276
28,560,396$
Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Business Assistance Loans 1,660,600$ -$ -$ 1,660,600$ 122
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

18. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
C. Land Held for Resale
At June 30, 2025, land held for resale in the amount of $470,303 is recorded at the acquisition cost in the Successor Agency Trust Fund.

D. Capital Assets
The following is a summary of changes in capital assets for the Successor Agency for the year ended June 30, 2025:

Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Nondepreciable assets:

Land 125,423$ -$ -$ 125,423$ Total nondepreciable assets 125,423 - - 125,423 Depreciable assets:

Building and building improvements 63,126 - - 63,126 Improvements other than buildings 148,995 - - 148,995 Machinery and equipment 429,179 - - 429,179 Furniture and fixtures 8,361 - - 8,361 Autos and trucks 19,513 - - 19,513 Total capital assets, at cost 669,174 - - 669,174 Less accumulated depreciation:

Building and building improvements (25,250) (1,263) - (26,513) Improvements other than buildings (148,995) - - (148,995) Machinery and equipment (429,179) - - (429,179) Furniture and fixtures (8,361) - - (8,361) Autos and Trucks (19,513) - - (19,513) Total accumulated depreciation (631,298) (1,263) - (632,561) Total depreciable assets, net 37,876 (1,263) - 36,613 Total capital assets, net 163,299$ (1,263)$ -$ 162,036$ 123
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

18. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
E. Long-Term Liabilities
The following is a summary of changes in long-term liabilities for the Successor Agency for the year ended June 30, 2025:

County Deferred Tax Loans
At June 30, 2025, the County deferred tax loans consisted of the follow:

The former Redevelopment Agency entered into agreements with the County of Los Angeles whereby a portion of the County’s share of tax increment revenues from the Southwest Pomona Project Area and South Garey/Freeway Corridor Project Area are loaned annually to the Successor Agency. Interest on both loans accrue at 7% per year, compounded annually. The County sent notification every year in September to the City for the payment amount due based on the actual revenues received.

Tax Allocation Bonds

Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Due Within
One Year
County deferred tax loans 63,669,499$ 4,228,406$ (3,263,699)$ 64,634,206$ 3,647,047$ Tax allocation bonds 88,065,000 - (8,460,000) 79,605,000 8,745,000 Total 151,734,499$ 4,228,406$ (11,723,699)$ 144,239,206$ 12,392,047$ Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Southwest Pomona Project Area 63,669,499$ 4,228,406$ (3,263,699)$ 64,634,206$ Total 63,669,499$ 4,228,406$ (3,263,699)$ 64,634,206$ Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Due Within
One Year
1998 Tax Allocation Bonds, Series X 70,000$ -$ (70,000)$ -$ -$ 1998 Tax Allocation Bonds, Series Y 3,680,000 - (380,000) 3,300,000 400,000 2018 Tax Allocation Bonds, Series BI 84,315,000 - (8,010,000) 76,305,000 8,345,000 Total 88,065,000$ -$ (8,460,000)$ 79,605,000$ 8,745,000$ 124
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

18. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
E. Long-Term Liabilities, Continued
1998 Tax Allocation Refunding Bonds, Series Y – Original Issuance $8,980,000 On October 1, 1998, the former Redevelopment Agency issued $8,980,000 in 1998 Tax Allocation Refunding Bonds, Series Y, for the West Holt Avenue Redevelopment Project to refund $7,130,000 of the loan between the former Redevelopment Agency and Public Financing Authority related to the Public Financing Authority’s 1993 Refunding Revenue Bonds, Series N, and to finance certain redevelopment activities within the West Holt Avenue Project Area.

Interest on the bonds is payable semiannually on November 1 and May 1 at rates varying from 3.0% to

5.0% per annum. $1,770,000 of bond principal is payable in annual installments ranging from $115,000 to $180,000 through May 1, 2011. Terms bonds of $390,000, $2,360,000, and $4,380,000 mature on May 1, 2013, May 1, 2020, and May 1, 2032, respectively, and are subject to mandatory redemption from a sinking fund account in amounts ranging from $190,000 to $550,000 as outlined in the bonds’ official statements. Bonds maturing on May 1, 2009 through May 1, 2011 are subject to redemption prior to maturity, as a whole or in part, at the option of the Agency on any date on or after May 1, 2008 at redemption prices ranging from 100% to 101% of principal. A municipal bond insurance policy has been issued that insures the payment of the principal and interest on the bonds when due. During 2007, the bonds in the amount of $645,000 were refunded by the 2006 Taxable Revenue Bonds, Series AT.

The annual debt service requirements outstanding at June 30, 2025, is as follows:

Year Ending
June 30, Principal Interest Total
2026 400,000$ 181,500$ 581,500$
2027 420,000 159,500 579,500
2028 445,000 136,400 581,400
2029 470,000 111,925 581,925
2030 495,000 86,075 581,075
2031-2032 1,070,000 89,100 1,159,100
Total 3,300,000$ 764,500$ 4,064,500$
125
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

18. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
E. Long-Term Liabilities, Continued
2018 Tax Allocation Refunding Bonds, Series BI – Original Issuance $128,885,000 On October 11, 2018, the Successor Agency to the Redevelopment Agency of the City of Pomona, issued 2018 Tax Allocation Refunding Bonds, Series BI in the amount of $128,885,000 to repay the advances from the Public Financing Authority for 1998 Series W, 2001 Series AD, 2003 Series AH, 2005 Series AQ, 2006 Series AS/AT/AX and 2007 Series AW and created annual debt service savings of approximately $1.6 million. There was no economic gain due to the unused bond proceeds paid down the principal portion of the new issuance.

Interest on the bonds is payable semiannually on each August 1 and February 1. The rates of interest range from 2.65% to 4.51% per annum. Principal is payable in annual installments ranging from $690,000 to $9,805,000. Bonds are secured by the pledged tax revenues deposited in the Redevelopment Property Tax Trust Fund.

The annual debt service requirement for the 2018 Tax Allocation Refunding Bonds, Series BI outstanding at June 30, 2025, is as follows:

Pledged Tax Revenues
The City has pledged, as security for bonds issued, either directly or through the Pomona Public Financing Authority, certain tax revenues to the repayment of certain Successor Agency debts (bonds, loans, and advances) through final maturity of bonded debt on February 1, 2041, or earlier retirement, whichever occurs first.

Year Ending
June 30, Principal Interest Total
2026 8,345,000$ 3,163,190$ 11,508,190$
2027 8,655,000 2,835,231 11,490,231
2028 8,925,000 2,490,762 11,415,762
2029 9,285,000 2,131,085 11,416,085
2030 9,440,000 1,752,257 11,192,257
2031-2035 25,680,000 3,673,944 29,353,944
2036-2040 5,285,000 882,275 6,167,275
2041 690,000 31,091 721,091
Total 76,305,000$ 16,959,834$ 93,264,834$
126
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

18. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
E. Long-Term Liabilities, Continued
Pledged Tax Revenues, Continued
Tax revenues consist of tax increment revenues allocated to the Successor Agency to various project areas pursuant to Section 33670 of the Redevelopment Law. Such Law excludes a portion of tax increment revenues required to be paid under Tax-Sharing agreements unless the payment of such amounts has been subordinated to the payment of debt service on the Bonds. Assembly Bill 1X 26 provided that upon dissolution of the Redevelopment Agency, property taxes allocated to redevelopment agencies no longer are deemed tax increment but rather property tax revenues and will be allocated first to local agency and school entity pursuant to any pass-through agreement, then second to successor agencies to make payments on the indebtedness incurred by the dissolved redevelopment agency. For the current year, the total property tax revenue recognized by the Successor Agency was $12,191,069 and the debt service payments on the bonds was $12,134,823.

Remaining balance on the debt at June 30, 2025, is as follows:

F. Compensated Absences
The liability for vested and unpaid compensated absences (accrued, vacation, sick pay, executive leave, and comp time) is reported in the fund as the benefits are earned and vest.

G. Insurance
The Successor Agency is covered under the City of Pomona’s insurance policies. Therefore, the limitation and self-insured retentions applicable to the City also apply to the Successor Agency. Additional information as to coverage and self-insured retentions can be found in Note 16.

Debt Issues
County of LA Agreement 64,634,206$
1998 Series Y Bonds 4,064,500
2018 Series BI Bonds 93,264,834
Total 161,963,540$
Balance
July 1, 2024 Additions Deletions
Balance
June 30, 2025
Due Within
One Year
Compensated absences 99,393$ 60,148 93,439 66,102$ 60,000$ 127
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

18. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
H. Agreement for Allocation of Tax Increment Revenues
On December 5, 1988, the former Redevelopment Agency entered into an agreement with the County whereby the County has agreed to provide sufficient allocation of tax increment revenues to allow the Successor Agency to meet its debt service agreements on dent it has incurred in connection with the Southwest Pomona Project Area. Beginning in fiscal year 1988-89, and thereafter for the life of the project, the County will provide a grant to the Successor Agency for any “deficiencies” in tax increment revenues allocated to the Successor Agency as described in the agreement. There were no intergovernmental revenues as result of the agreement for the year ended June 30, 2025.

19. EXPENDITURES IN EXCESS OF APPROPRIATIONS
The following fund had expenditures in excess of appropriations for fiscal year 2025.

20. CHANGE WITHIN FINANCIAL REPORTING ENTITY
In fiscal year 2025, the City’s American Rescue Plan Fund moved from major to a nonmajor fund. The beginning fund balance of the American Rescue Plan Fund is zero so there is no impact on the beginning fund balance of the nonmajor governmental funds.

Major Fund
General Fund (2,528,208)$
Nonmajor Special Revenue Fund
State Gas Tax (220,050)$
Proposition C (11,846)$
128
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

21. PRIOR PERIOD ADJUSTMENT
During 2025, the City recorded the following prior period adjustments:
(1) Error correction to General Fund – Beginning fund balance of the General Fund were restated due to the reclassification of prior years contribution to Pension Section 115 Trust as fund balances. The City recorded the contribution as expenditures in the prior years. An adjustment was necessary to properly restate the cash and investment account. Therefore, cash and investment, were understated by $3,688,250 total in General Fund, and fund balance was understated by $3,688,250 in total for the fiscal year ended June 30, 2024. (2) Change in Reporting Entity and Error Correction – During the fiscal year ended June 30, 2025, the City determined that the Canon Water Company ceased to exist as a separate legal entity effective June 2021. To accurately reflect the City’s organizational structure, the activities previously reported in the Canon Water Company Fund have been consolidated into the Water Fund. This transition is accounted for as a change in reporting entity. Additionally, as part of this consolidation, the City performed a comprehensive reconciliation of the inherited balances. It was determined that certain historical balances within the Canon Water Company Fund were not supported by subsidiary records. Consequently, the City has recorded an error correction to write off these unsupported amounts to ensure the financial statements are presented in accordance with GAAP. The total assets written off were $130,521, total liabilities written off were $11,879.

Total cash and investment transferred to Water Fund were $244,948, and net capital assets transferred were $17,890 as of June 30, 2024.
(3) Error correction to Water and Sewer Fund – Revenue and fund balances were restated to correct the utility revenue recognized in the Water and Sewer Fund. The accrued revenue of utility billings was not recorded correctly in the fiscal year 2024. Therefore, revenue was overstated by $2,230,873 in Water Fund and $385,000 in Sewer Fund for the fiscal year ended June 30, 2024. (4) Error correction to Custodial Funds – Deposit payable and net position were restated due to the reclassification of prior year refundable deposits as net position. The refundable deposit was not properly recognized as revenue in the prior year. Therefore, refundable deposit was overstated by $187,953 and fund balance was understated by $187,953 for the fiscal year ended June 30, 2024.

6/30/2024
As Previously
Reported
Error Correction
(1)
Change in
Reporting Entity
and Error
Correction (2)
Error Correction
(3)
Error Correction
(4)
7/1/2024
As Restated
Governmental Activities 127,066,965$ 3,688,250$ -$ -$ -$ 130,755,215$ Business-type Activities 161,286,102 - (118,643) (2,615,873) - 158,551,586 General Fund 60,584,078 3,688,250 - - - 64,272,328 Water Fund 107,913,983 - 262,837 (2,230,873) - 105,945,947 Sewer Fund 27,583,403 - - (385,000) - 27,198,403 Canon Water Company Fund 381,480 - (381,480) - - - Custodial Funds 5,990 - - - 187,953 193,943 129
City of Pomona
Notes to Basic Financial Statements
For the Year Ended June 30, 2025

22. CONSTRAINT RISK
In November 2024, Pomona voters approved Measure Y, the “Pomona Kids First Initiative,” which created the Pomona Children and Youth Fund and the Department of Children and Youth. Measure Y required the City to allocate 2% of its “annual actual unrestricted general-purpose revenues” by January 2025 to create a new Children and Youth Fund, which will finance and operate the newly established Department of Children and Youth, in accordance with Measure Y's requirements. This allocation increased to 5% in Fiscal Year 2025- 26 and will rise by 1% each fiscal year until it reaches 10% of such revenues by Fiscal Year 2030-31. The allocation will stay at 10% each year thereafter until Measure Y is repealed or amended.

While the City remains strongly committed to the initiative’s primary goal of investing in children and youth, the increasing General Fund allocation requirements mandated by Measure Y have placed greater financial pressure on the City’s ability to provide essential services and maintain safe, reliable infrastructure. The growing magnitude of the Measure Y transfers will require increasingly difficult decisions regarding service levels and resource allocation. The City's ability to respond effectively to unforeseen emergencies, economic downturns, or other adverse events will be progressively limited as a larger percentage of General Fund revenues becomes restricted for transfer to the Children and Youth Fund.

To reduce the significant financial impact of Measure Y on the General Fund, ensure the City’s long-term finances that support local improvement programs and services, staff worked with the City Council Measure Y Subcommittee to discuss and recommend placing a new measure on the June 2026 Municipal Primary Election ballot to amend and refine Measure Y. This action was approved at the December 1, 2025, city council meeting.

130

REQUIRED

SUPPLEMENTARY INFORMATION
131
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132
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Fund
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes 138,105,400$ 138,105,400$ 139,452,848$ 1,347,448$ Licenses, permits and fees 11,415,700 11,385,700 8,567,275 (2,818,425) Intergovernmental 445,200 484,255 481,044 (3,211) Charges for services 3,783,465 4,254,491 4,372,939 118,448 Use of money and properties 2,727,647 2,731,647 5,569,022 2,837,375 Fines and forfeitures 2,016,524 2,516,524 2,975,777 459,253 Miscellaneous 937,500 937,500 1,228,206 290,706 Total revenues 159,431,436 160,415,517 162,647,111 2,231,594 EXPENDITURES:

Current:

General government
11,381,591 11,014,813 11,908,634 (893,821) Public safety 114,009,518 114,560,840 115,464,659 (903,819) Development services 20,218,257 20,567,416 19,518,453 1,048,963 Neighborhood services and library 9,320,457 9,017,684 8,829,563 188,121 Capital outlay 375,000 712,861 2,723,872 (2,011,011) Debt service:

Principal retirement 273,782 273,782 230,423 43,359 Total expenditures 155,578,605 156,147,396 158,675,604 (2,528,208)

REVENUES OVER (UNDER)
EXPENDITURES 3,852,831 4,268,121 3,971,507 (296,614) OTHER FINANCING SOURCES (USES):

Transfers in 1,866,776 1,866,776 2,878,645 1,011,869 Transfers out (5,993,863) (10,445,593) (10,189,396) 256,197 Proceeds from sale of property - - 11,516 11,516 Proceeds from SBITA - - 2,223,119 2,223,119 Total other financing sources (uses) (4,127,087) (8,578,817) (5,076,116) 3,502,701 Net change in fund balances (274,256)$ (4,310,696)$ (1,104,609) 3,206,087$ FUND BALANCES:

Beginning of year
60,584,078
Restatement 3,688,250
Beginning of year, as restated 64,272,328
End of year 63,167,719$
Budgeted Amounts
133
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Housing Authority
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 25,047,676$ 29,657,697$ 29,173,002$ (484,695)$ Charges for services 3,000 3,000 - (3,000) Use of money and properties 702,830 702,830 746,977 44,147 Miscellaneous 111,119 92,217 6,755 (85,462) Total revenues 25,864,625 30,455,744 29,926,734 (529,010) EXPENDITURES:

Current:

Development services
27,841,693 38,081,990 30,551,082 7,530,908 Total expenditures 27,841,693 38,081,990 30,551,082 7,530,908

REVENUES OVER (UNDER)
EXPENDITURES (1,977,068) (7,626,246) (624,348) 7,001,898 OTHER FINANCING SOURCES (USES):

Transfers in - 22,631 122,634 100,003 Transfers out (3,327,690) (6,655,380) (1,355) 6,654,025 Total other financing sources (uses) (3,327,690) (6,632,749) 121,279 6,754,028 Net change in fund balances (5,304,758)$ (14,258,995)$ (503,069) 13,755,926$ FUND BALANCES:

Beginning of year 21,625,891
End of year 21,122,822$
Budgeted Amounts
134
City of Pomona
Required Supplementary Information
For the year ended June 30, 2025

1. BUDGET AND BUDGETARY ACCOUNTING
a.
b.
c.
d.

The City follows these procedures in establishing the budgetary data reflected in the fiscal statements:

Annual budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America for all governmental funds, except that encumbrances are shown in the year incurred for budgetary purposes.

On or before the last day in January each year, all operational units submit requests for appropriations to the City Manager for budget preparation purposes. The City Council holds public hearings, and a final budget must be adopted no later than June 30.

The appropriated budget is prepared by fund, function, and department. The City's department directors, with approval of the Finance Director and City Manager, may make transfers of appropriations within a department and between departments with a fund. The legal level of budgetary control (i.e. the level at which expenditures may not legally exceed appropriations) is the fund level. The City Council made several supplemental budgetary appropriations throughout the year. The supplementary budgetary appropriations made in the various governmental funds are not detailed in the required supplementary information.

Under encumbrance accounting, purchase orders, contracts and other commitments for expenditures are reported to reserve that portion of the applicable appropriations. Encumbrance accounting is employed as an extension of formal budgetary accounting. Unexpended appropriations lapse at year-end regardless of encumbrances.
135
City of Pomona
Required Supplementary Information
For the year ended June 30, 2025

2. Miscellaneous Plan-Agent Multiple-Employer
Schedule of Changes in the Net Pension Liability and Related Ratios - Last 10 Fiscal Years* Measurement period 2015 2016 2017 2018

TOTAL PENSION LIABILITY
Service cost 3,161,189$ 3,278,100$ 3,757,355$ 3,684,403$ Interest 18,495,828 19,115,591 19,389,644 19,890,698 Changes of assumptions (4,427,183) - 15,726,854 (1,368,646) Differences between expected and actual experience (3,363,816) 123,335 (2,724,421) 165,010 Benefit payments, including refunds of employee
contributions (13,367,634) (14,106,985) (14,550,855) (15,247,444) Net change in the total pension liability 498,384 8,410,041 21,598,577 7,124,021 Total pension liability - beginning 254,669,734 255,168,118 263,578,159 285,176,736 Total pension liability - ending (a) 255,168,118$ 263,578,159$ 285,176,736$ 292,300,757$

PLAN FIDUCIARY NET POSITION
Contributions - employer 3,747,091$ 4,508,818$ 4,965,420$ 5,562,823$ Contributions - employee 1,622,551 1,710,782 1,824,492 1,718,844 Net investment income 4,578,528 1,092,440 21,714,550 17,509,262 Benefit payments, including
refunds of employee contributions (13,367,634) (14,106,985) (14,550,855) (15,247,444) Administrative expense (235,754) (124,510) (291,464) (328,910) Net plan to plan resource movement (521) 30,199 - (510) Other miscellaneous income/(expense) - - - (624,606) Net change in plan fiduciary net position (3,655,739) (6,889,256) 13,662,143 8,589,459 Plan fiduciary net position - beginning 207,955,905 204,300,166 197,410,910 211,073,053 Plan fiduciary net position - ending (b) 204,300,166$ 197,410,910$ 211,073,053$ 219,662,512$ Plan net pension liability/(assets)-ending (a) - (b) 50,867,952$ 66,167,249$ 74,103,683$ 72,638,245$ Plan fiduciary net position as a percentage of the total pension liability 80.06% 74.90% 74.01% 75.15%
Covered payroll 21,768,272$ 22,899,750$ 23,628,194$ 23,219,075$ Plan net pension liability/(asset) as a percentage of
covered payroll 233.68% 288.94% 313.62% 312.84%
Notes to Schedule
Changes of Benefit Terms: The figures above generally include any liability impact that may have resulted from voluntary benefit changes that occurred d on or before the Measurement Date. However, offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes) that occurred after the Valuation Date are not included in the figures above, unless the liability impact is deemed to be material by the plan actuary.

7.50% for measurement date 2014.
136
2019 2020 2021 2022 2023 2024
3,678,697$ 3,689,145$ 3,917,757$ 4,535,202$ 4,825,098$ 5,335,200$ 20,653,574 21,100,019 21,667,103 22,119,973 22,628,770 23,322,153 - - - 9,158,812 615,994 - 2,804,401 (1,647,018) 253,986 587,347 (1,187,156) 1,866,223 (16,166,651) (16,726,361) (17,726,053) (18,467,593) (19,242,622) (19,809,531) 10,970,021 6,415,785 8,112,793 17,933,741 7,640,084 10,714,045 292,300,757 303,270,778 309,686,563 317,799,356 335,733,097 343,373,181 303,270,778$ 309,686,563$ 317,799,356$ 335,733,097$ 343,373,181$ 354,087,226$ 6,340,816$ 7,644,926$ 84,587,763$ 2,512,909$ 2,726,901$ 3,538,530$ 1,746,619 1,868,202 1,946,908 1,916,833 2,155,721 2,647,601 14,226,888 10,972,762 66,627,438 (26,971,137) 19,537,786 30,684,731 (16,166,651) (16,726,361) (17,726,053) (18,467,593) (19,242,622) (19,809,531) (156,756) (318,117) (228,852) (226,940) (237,567) (266,900) - - - - - - 510 - - - - - 5,991,426 3,441,412 135,207,204 (41,235,928) 4,940,219 16,794,431 219,662,512 225,653,938 229,095,350 364,302,554 323,066,626 328,006,845 225,653,938$ 229,095,350$ 364,302,554$ 323,066,626$ 328,006,845$ 344,801,276$ 77,616,840$ 80,591,213$ (46,503,198)$ 12,666,471$ 15,366,336$ 9,285,950$

74.41% 73.98% 114.63% 96.23% 95.52% 97.38%
23,219,075$ 24,112,060$ 26,170,720$ 27,205,771$ 30,651,720$ 34,760,956$ 334.28% 334.24% -177.69% 46.56% 50.13% 26.71%
137
City of Pomona
Required Supplementary Information
For the year ended June 30, 2025

3. Safety Plan-Agent Multiple-Employer
Schedule of Changes in the Net Pension Liability and Related Ratios - Last 10 Fiscal Years* Measurement period 2015 2016 2017 2018

TOTAL PENSION LIABILITY
Service cost 4,785,362$ 4,884,739$ 5,801,213$ 5,447,465$ Interest 23,712,742 24,593,728 24,844,637 25,520,009 Changes in benefit terms - - - - Changes in assumptions (5,565,887) - 19,952,226 (1,916,304) Differences between expected and actual experience (2,090,216) 1,506,206 (4,573,322) 1,433,848 Benefit payments, including refunds of employee
contributions (18,221,480) (18,854,232) (19,795,369) (21,286,165) Net change in the total pension liability 2,620,521 12,130,441 26,229,385 9,198,853 Total pension liability - beginning 324,344,654 326,965,175 339,095,616 365,325,001 Total pension liability - ending (a) 326,965,175$ 339,095,616$ 365,325,001$ 374,523,854$

PLAN FIDUCIARY NET POSITION
Contributions - employer 6,367,577$ 7,278,178$ 8,239,937$ 8,917,280$ Contributions - employee 1,554,104 1,534,930 1,568,799 1,611,014 Net investment income 5,342,317 1,164,032 25,441,922 20,385,914 Benefit payments, including refunds of employee
contributions (18,221,480) (18,854,232) (19,795,369) (21,286,165) Administrative expense (271,705) (147,131) (343,113) (385,682) Net plan to plan resource movement 521 1,096 - (596) Other miscellaneous income/(expense) - - - (732,417) Net change in plan fiduciary net position (5,228,666) (9,023,127) 15,112,176 8,509,348 Plan fiduciary net position - beginning 246,645,283 241,416,617 232,393,490 247,505,666 Plan fiduciary net position - ending (b) 241,416,617$ 232,393,490$ 247,505,666$ 256,015,014$ Plan net pension liability/(assets)-ending (a) - (b) 85,548,558$ 106,702,126$ 117,819,335$ 118,508,840$ Plan fiduciary net position as a percentage of the
total pension liability 73.84% 68.53% 67.75% 68.36%
Covered payroll 15,528,316$ 16,122,314$ 17,199,482$ 16,421,383$ Plan net pension liability/(asset) as a percentage of
covered payroll
550.92% 661.83% 685.02% 721.67%
Notes to Schedule
*Historical information is required only for measurement years for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, therefore only nine years are shown.

Changes of Benefit Terms:The figures above generally include any liability impact that may have resulted from voluntary benefit changes that occurred on or before the Measurement Date. However, offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes) that occurred after the Valuation Date are not included in the figures above, unless the liability impact is deemed to be material by the plan actuary.

Changes of Assumptions : Effective with the June 30, 2021 valuation date (2022 measurement date), the accounting discount rate was reduced from 7.15% to 6.90%. In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. Projected returns for all asset classes are estimated, combined with risk estimates, and are used to project compound (geometric) returns over the long term. The discount rate used to discount liabilities was informed by the long-term projected portfolio return. In addition, demographic assumptions and the inflation rate assumption were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions. The accounting discount rate was 7.15% for measurement dates 2017 through 2021, 7.65% for measurement dates 2015 through 2016, and 7.50% for measurement date 2014. 138
2019 2020 2021 2022 2023 2024
5,283,890$ 5,538,692$ 5,666,577$ 6,664,841$ 6,940,443$ 6,732,792$ 26,641,545 27,404,181 28,253,540 28,982,162 30,213,536 31,550,382 - - - - 204,714 - - - - 14,067,624 - - 6,506,181 1,100,494 2,054,460 376,821 7,160,279 8,865,506 (22,125,918) (22,848,264) (23,515,991) (24,457,571) (26,149,977) (26,932,197) 16,305,698 11,195,103 12,458,586 25,633,877 18,368,995 20,216,483 374,523,854 390,829,552 402,024,655 414,483,241 440,117,118 458,486,113 390,829,552$ 402,024,655$ 414,483,241$ 440,117,118$ 458,486,113$ 478,702,596$ 10,065,972$ 12,010,910$ 144,351,077$ 4,599,974$ 4,826,604$ 5,749,413$ 1,577,765 1,935,321 1,854,431 1,928,955 1,952,071 2,306,374 16,534,386 12,709,328 86,029,275 (35,144,275) 25,304,177 39,615,508 (22,125,918) (22,848,264) (23,515,991) (24,457,571) (26,149,977) (26,932,197) (182,698) (369,194) (265,042) (295,135) (309,149) (346,664) - - - - - - 596 - - - - - - - - 5,870,103 3,438,101 208,453,750 (53,368,052) 5,623,726 20,392,434 256,015,014 261,885,117 265,323,218 473,776,968 420,408,916 426,032,642 261,885,117$ 265,323,218$ 473,776,968$ 420,408,916$ 426,032,642$ 446,425,076$ 128,944,435$ 136,701,437$ (59,293,727)$ 19,708,202$ 32,453,471$ 32,277,520$

67.01% 66.00% 114.31% 95.52% 92.92% 93.26%
15,989,983$ 16,804,283$ 17,408,839$ 18,436,629$ 16,947,977$ 18,928,077$ 806.41% 813.49% -340.60% 106.90% 191.49% 170.53%
139
City of Pomona
Required Supplementary Information
For the year ended June 30, 2025

4. Collateral Benefits Plan
Schedule of Changes in the Net Pension Liability and Related Ratios - Last 10 Fiscal Years* 2018 2019 2020

TOTAL PENSION LIABILITY
Service cost 8,761$ 8,761$ 9,330$ Interest 61,845 59,294 56,133 Differences between expected and actual experience - - - Effect of economic/demographic gains or losses - - - Effect of assumptions changes or inputs - - - Benefit Payment (114,500) (122,900) (111,400) Net change in the total pension liability (43,894) (54,845) (45,937) Total pension liability - beginning 1,007,818 963,924 909,079 Total pension liability - ending (a) 963,924$ 909,079$ 863,142$

PLAN FIDUCIARY NET POSITION
Contributions - employer - 102,949 167,769 Net investment income 13,113 8,427 3,889 Benefit payments, including
refunds of employee contributions (114,500) (122,900) (111,400) Administrative expense (126) (124) - -
Net change in fiduciary net position (101,513) (11,648) 60,258 Plan fiduciary net position - beginning 284,669 183,156 171,508 Plan fiduciary net position - ending (b) 183,156$ 171,508$ 231,766$ Plan net pension liability/(assets)-ending (a) - (b) 780,768$ 737,571$ 631,376$ Plan fiduciary net position as a percentage of the total pension liability 19.00% 18.87% 26.85% Covered payroll N/A N/A N/A
Plan net pension liability/(asset) as a percentage of covered payroll N/A N/A N/A (1) Historical information is required only for measurement years for which GASB 68 is applicable.

Notes to Schedule
Benefit Changes: There were no changes to benefit terms Changes of Assumptions: The mortality in FY2024 report are consistent with the rates used to value the Miscellaneous Public Agency CalPERS Pension Plans after June 30, 2021, and the mortality in FY2023 report are consistent with the rates used to value the Miscellaneous Public Agency CalPERS Pension Plans after June 30, 2017 140
2021 2022 2023 2024 2025
8,023$ 8,023$ 8,544$ 8,023$ 1,446$ 52,950 54,678 51,886 48,955 38,388 76,786 - - - - - - - (113,721) - - - - (11) - (114,900) (107,360) (104,960) (105,000) (93,300) 22,859 (44,659) (44,530) (161,754) (53,466) 863,142 886,001 841,342 796,812 635,058 886,001$ 841,342$ 796,812$ 635,058$ 581,592$ - 333,578 261,388 261,388 261,388 32,324 (27,669) 20,328 44,121 78,863 (114,900) (107,360) (104,960) (105,000) (93,300) (1,181) (200) (200) (314) (314) (83,757) 198,349 176,556 200,195 246,637 231,766 148,009 346,358 522,914 723,109 148,009$ 346,358$ 522,914$ 723,109$ 969,746$ 737,992$ 494,984$ 273,898$ (88,051)$ (388,154)$

16.71% 41.17% 65.63% 113.87% 166.74%

N/A N/A N/A N/A N/A

N/A N/A N/A N/A N/A
141
City of Pomona
Required Supplementary Information
For the year ended June 30, 2025

5. Miscellaneous Plan-Agent Multiple-Employer
Schedule of Plan Contributions - Last 10 Fiscal Years
Fiscal Year End 2016 2017 2018 2019
Actuarially determined contribution 4,508,818$ 4,965,420$ 5,562,823$ 6,340,816$ Contributions in relation to actuarially determined contributions (4,508,818) (4,965,420) (5,562,823) (6,340,816) Contribution deficiency (excess) -$ -$ -$ -$ Covered payroll 22,899,750$ 23,628,194$ 23,219,075$ 23,531,614$ Contributions as a percentage of covered payroll 19.69% 21.01% 23.96% 26.95% Notes to Schedule
Valuation date
Methods and assumptions used to determine contribution rates:

Actuarial cost method Entry Age Actuarial Cost Method
Amortization method For details, see June 30, 2022 Funding Valuation Report.

Asset valuation method Fair Value of Assets.

Inflation 2.30%
Payroll growth 2.80%
Projected salary increases
Investment rate of return
Retirement age
Mortality
Varies by entry age and service

6.8% Net of Administrative Expenses.

The probabilities of retirement are based on the 2021 CalPERS Experience Study.

The probabilities of mortality are based on the 2021 CalPERS Experience Study.
142
2020 2021 2022 2023 2024 2025
7,644,926$ 8,255,703$ 2,512,909$ 2,726,901$ 3,538,752$ 4,036,999$ (7,644,926) (84,587,763) (2,512,909) (2,726,901) (3,538,752) (4,036,999) -$ (76,332,060)$ -$ -$ -$ -$ 24,112,060$ 26,170,720$ 27,205,771$ 30,651,720$ 34,760,956$ 34,604,491$

31.71% 323.22% 9.24% 8.90% 10.18% 11.67%
143
City of Pomona
Required Supplementary Information
For the year ended June 30, 2025

6. Safety Plan-Agent Multiple-Employer
Schedule of Plan Contributions - Last 10 Fiscal Years
Fiscal Year End 2016 2017 2018 2019
Actuarially determined contribution 7,278,178$ 8,239,937$ 8,917,280$ 10,065,972$ Contributions in relation to actuarially determined contributions (7,278,178) (8,239,937) (8,917,280) (10,065,972) Contribution deficiency (excess) -$ -$ -$ -$ Covered payroll 16,122,314$ 17,199,482$ 16,421,383$ 15,989,983$ Contributions as a percentage of covered payroll 45.14% 47.91% 54.30% 62.95% Notes to Schedule
Valuation date
Methods and assumptions used to determine contribution rates:

Actuarial cost method Entry Age Actuarial Cost Method
Amortization method For details, see June 30, 2021 Funding Valuation Report.

Asset valuation method Fair Value of Assets.

Inflation 2.30%
Payroll growth 2.80%
Projected salary increases Varies by entry age and service Investment rate of return
Retirement age
Mortality

6.8% Net of Administrative Expenses.

The probabilities of retirement are based on the 2021 CalPERS Experience Study.

The probabilities of mortality are based on the 2021 CalPERS Experience Study.
144
2020 2021 2022 2023 2024 2025
12,010,910$ 13,214,474$ 4,599,974$ 4,826,361$ 5,749,191$ 7,034,665$ (12,010,910) (144,351,077) (4,599,974) (4,826,361) (5,749,191) (8,934,665) -$ (131,136,603)$ -$ -$ -$ (1,900,000)$ 16,804,283$ 17,408,839$ 18,436,629$ 16,947,977$ 18,928,077$ 20,366,696$

71.48% 829.18% 24.95% 28.48% 30.37% 43.87%
145
City of Pomona
Required Supplementary Information
For the year ended June 30, 2025

7. Collateral Benefits Plan
Schedule of Plan Contributions
Fiscal Year Ended 2016 2017 2018 2019
Actuarially determined contribution 102,949$ 102,949$ 102,949$ 102,949$ Contributions in relation to actuarially
determined contributions (102,949) (102,949) (114,500) (102,949) Contribution deficiency (excess) -$ -$ (11,551)$ -$ Covered payroll N/A N/A N/A N/A
Contributions as a percentage of
covered payroll N/A N/A N/A N/A
Notes to Schedule
Valuation date June 30, 2025
Methods and assumptions used to determine contribution rates:

Actuarial cost method Entry Age Normal Cost Method
Amortization method Level dollar of payroll
Asset valuation method Market value
Inflation N/A
Payroll growth N/A
Projected salary increases N/A
Investment rate of return
Retirement age
Mortality

6.50% Net of Administrative Expenses.

The retirement rates are consistent with those used to value the Miscellaneous Public Agency CalPERS "2.0% at age 55" Pension Plans for retirees with 25 years of service.

Consistent with the Non-industrial rates used for the value of Miscellaneous Public Agency CalPERS Pension Plans.
146
2020 2021 2022 2023 2024 2025
167,769$ -$ 166,789$ 261,388$ 261,388$ 261,388$ (167,769) (166,789) (333,578) (261,388) (261,388) (261,388) -$ (166,789)$ (166,789)$ -$ -$ -$

N/A N/A N/A N/A N/A N/A

N/A N/A N/A N/A N/A N/A
147
City of Pomona
Required Supplementary Information
For the year ended June 30, 2025

8. Schedule of Changes in the Total OPEB Liability and Related Ratios Last 10 Fiscal Years*
2018 2019 2020

TOTAL OPEB LIABILITY
Service cost 2,019,938$ 2,322,129$ 2,391,793$ Interest on total OPEB liability 3,382,262 3,193,265 3,459,741 Differences between expected and actual experience - - (2,406,146) Changes of assumptions 5,151,873 (5,689,789) 10,014,158 Benefit payments (4,149,518)$ (4,419,147) (4,532,965) Net change in the total OPEB liability 6,404,555 (4,593,542) 8,926,581 Total OPEB liability - beginning 90,248,485 96,653,040 92,059,498 Total OPEB liability - ending (a) 96,653,040 92,059,498$ 100,986,079$

PLAN FIDUCIARY NET POSITION
Contributions - employer 4,149,518$ 4,419,147$ 4,532,965$ Benefit payments (4,149,518) (4,419,147) (4,532,965) -
Net change in plan fiduciary net position - - - Plan fiduciary net position - beginning - - - Plan fiduciary net position - ending (b) -$ -$ -$ Net OPEB liability - ending (a) - (b) 96,653,040$ 92,059,498$ 100,986,079$ Plan fiduciary net position as a percentage of the total OPEB liability 0.00% 0.00% 0.00% Covered employee payroll 40,827,676$ 40,570,643$ 42,681,546$ Total OPEB liability as a percentage of covered employee payroll 236.73% 226.91% 236.60% Notes to the Schedule: There is no asset held in the trust for the plan.

Changes in assumptions:In 2025, the discount rate increased from 4.00 percent to 4.28 percent. In 2024, the discount rate increased from 3.72 percent to 4.00 percent. In 2023, the accounting discount rate increased from 2.06 percent to 3.72 percent. In 2022, the accounting discount rate reduced from 2.12 percent to 2.06 percent.
*Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018 was the first year of implementation. Future years' information will be displayed up to 10 years as information becomes available. 148
2021 2022 2023 2024 2025
2,438,598$ 2,859,647$ 2,822,540$ 2,263,212$ 2,569,711$ 2,693,897 2,280,032 2,165,147 3,265,063 3,476,187 - (3,389,740) - (827,555) 1,979,046 7,273,004 726,306 (18,337,844) (805,300) (1,686,281) (4,862,846) (4,819,774) (4,984,455) (4,729,786) (5,415,608) 7,542,653 (2,343,529) (18,334,612) (834,366) 923,055 100,986,079 108,528,732 106,185,203 87,850,591 87,016,225 108,528,732$ 106,185,203$ 87,850,591$ 87,016,225$ 87,939,280$ 4,862,846$ 4,819,774$ 4,984,455$ 4,729,786$ 5,415,608$ (4,862,846) (4,819,774) (4,984,455) (4,729,786) (5,415,608) - - - - - - - - - - -$ -$ -$ -$ -$ 108,528,732$ 106,185,203$ 87,850,591$ 87,016,225$ 87,939,280$

0.00% 0.00% 0.00% 0.00% 0.00%
44,535,741$ 47,515,353$ 43,591,147$ 44,811,699$ 54,971,188$ 243.69% 223.48% 201.53% 194.18% 159.97%
149
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SUPPLEMENTARY INFORMATION
151
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City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Government
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Use of money and properties 315,166$ 315,166$ 317,065$ 1,899$ Total revenues 315,166 315,166 317,065 1,899 EXPENDITURES:

Current:

Debt service:

Principal retirement 7,733,312 7,733,312 7,733,312 - Interest and fiscal charges 9,260,332 9,260,332 9,258,401 1,931 Total expenditures 16,993,644 16,993,644 16,991,713 1,931

REVENUES OVER (UNDER)
EXPENDITURES (16,678,478) (16,678,478) (16,674,648) 3,830 OTHER FINANCING SOURCES (USES):

Transfers in 18,892,166 18,892,166 18,892,163 (3) Transfers out (2,195,000) (2,195,000) (74) 2,194,926 Total other financing sources (uses) 16,697,166 16,697,166 18,892,089 2,194,923 Net change in fund balances 18,688$ 18,688$ 2,217,441 2,198,753$ FUND BALANCES:

Beginning of year (62,911,257)
End of year (60,693,816)$
Budgeted Amounts
153
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Public Financing Authority
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Use of money and properties 3,180$ 3,180$ 3,901$ 721$ Total revenues 3,180 3,180 3,901 721 EXPENDITURES:

Debt service:

Principal retirement 2,195,000 2,195,000 2,195,000 - Interest and fiscal charges 2,245 2,245 - 2,245 Total expenditures 2,197,245 2,197,245 2,195,000 2,245

REVENUES OVER (UNDER)
EXPENDITURES (2,194,065) (2,194,065) (2,191,099) 2,966 OTHER FINANCING SOURCES (USES):

Transfers in 2,195,000 2,195,000 - (2,195,000) Total other financing sources (uses) 2,195,000 2,195,000 - (2,195,000) Net change in fund balances 935$ 935$ (2,191,099) (2,192,034)$ FUND BALANCES:

Beginning of year
63,799,848
End of year 61,608,749$
Budgeted Amounts
154
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Capital Outlay Capital Projects Fund
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Licenses, permits and fees 20,000$ 20,000$ 1,164,808$ 1,144,808$ Intergovernmental 565,850 14,044,388 11,637,425 (2,406,963) Use of money and properties 30,204 30,204 86,134 55,930 Total revenues 616,054 14,094,592 12,888,367 (1,206,225) EXPENDITURES:

Current:

Development services
6,000 6,000 1,201 4,799 Capital outlay 27,222,970 103,964,480 47,712,826 56,251,654 Total expenditures 27,228,970 103,970,480 47,715,907 56,254,573

REVENUES OVER (UNDER)
EXPENDITURES (26,612,916) (89,875,888) (34,827,540) 55,048,348 OTHER FINANCING SOURCES (USES):

Transfers in 26,857,120 38,483,092 34,366,963 (4,116,129) Transfers out (1,149,145) (1,227,451) (6,129) 1,221,322 Proceeds from sale of property - - 25,050 25,050 Proceeds from loans - - 568,500 568,500 Total other financing sources (uses) 25,707,975 37,255,641 34,954,384 (2,301,257) Net change in fund balances (904,941)$ (52,620,247)$ 126,844 52,747,091$ FUND BALANCES:

Beginning of year
15,682,064
End of year 15,808,908$
Budgeted Amounts
155
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156
City of Pomona
Nonmajor Governmental Funds
Year Ended June 30, 2025
Nonmajor Special Revenue Funds
The Miscellaneous Grant Fund accounts for revenues received and expenditures made for federal, state and or county approved programs and projects.

The American Rescue Plan Fund accounts for the American Rescue Plan Act of 2021 revenues.

The Community Development Block Grant (CDBG) Fund accounts for funds received from the U.S.

Department of Housing and Urban Development to develop viable urban communities by providing decent housing and a suitable environment and expand economic opportunity for persons of low and moderate income.

The State Gas Tax Fund accounts for revenues received and expenditures made for general street improvement and maintenance. The revenue consists of the City's share of state gasoline taxes collected under Sections 2105, 2106, 2107.5 of the Street and Highway Code.

The Proposition "A" Fund accounts for the receipt and disbursement of funds derived from the one-half cent sales tax imposed by the Proposition "A" ordinance of the Los Angeles County Transportation Commission. The funds are used to finance public transportation projects.

The Proposition "C" Fund accounts for the receipt and disbursement of funds derived from a 1990-91 increase in County sales tax. The funds are used to finance transit and transit-related projects.

The Vehicle Parking District Fund accounts for operation, maintenance, capital improvements, and administration of parking lots in the downtown business area. Revenues are received from parking fees.

The Air Quality Improvement Fund accounts for revenues and expenditures made for air quality improvement projects. The revenues consist of funds received from the South Coast Air Quality Management District (SCAQMD) in accordance with AB2766.

The Landscape Maintenance District Fund accounts for revenues received and expenditures made for landscape and lighting maintenance in various areas of the City. Revenues consist of assessments received from property owners.

The Asset Forfeiture Fund accounts for the City's share of assets seized by law enforcement agencies. The monies are used for law enforcement purposes.

The Traffic Offender Fundaccounts for the fees collected for the impoundment of vehicles and expenditures for the enforcement, education, and prosecution of drivers with a suspended or revoked license as well as unlicensed drivers operating a motor vehicle.

The Measure "R" Fundaccounts for street maintenance, traffic signal, street light maintenance, traffic paint and sign services which are funded with one-half cent sales tax revenue.

The Measure "M" Fundaccounts for new transit and highway projects, enhances bus and rail operations, and several other transportation improvements in Los Angeles County which is funded with one half cent sales tax revenue.

The Special Fees Fund accounts for fee analysis rate review and public art fees. 157
City of Pomona
Nonmajor Governmental Funds
Year Ended June 30, 2025
Nonmajor Special Revenue Funds (Continued )
The PEG Fee Fundaccounts for Public, Education, and Government (PEG) fees collected by service providers through the franchisee agreement with the City. These fees pay for capital equipment and projects that provide for continuation of PEG programming.

The OATH (Officers Assisting the Homeless) Initiative Fundaccounts for providing local police officers with the proper tools based on nationally recognized best practices and trauma-informed care for interactions with the homeless population.

The Fairplex Mitigation Fund accounts for City revenue from Fairplex events to fund public safety measures and initiatives to those residents most impacted by Fairplex events.

The Measure "W" Fund accounts for City revenue approved by Los Angeles County voters with funds to capture, treat and recycle stormwater.

The Cannabis Community Benefit Fund accounts for City revenue for permitted commercial cannabis businesses within City limits.

Refuse Administration Fundaccounts for illegal dumping and payments received from the exclusive hauler such as the housing grants and vehicle impact fees. In addition, the fund also accounts for the various State recycling grants such as Used Oil, Tire, AB939, Curbside Beverage and SB1383.

The Pomona Fund for Children and Youth accounts for funds approved by voters to finance and operate the Department of Children and Youth in accordance with the Pomona Kids First Initiative.

Nonmajor Capital Projects Funds
The Assessment District Improvement Fund accounts for capital improvements through special charges levied against the properties benefited.
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159
City of Pomona
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
ASSETS
Cash and investments 3,142,122$ 10,390,237$ -$ 4,630,885$ Receivables (net):

Accounts 198,663 - - - Notes and loans 22,189,445 - 1,638,205 - Interest 30,023 - 538 39,140 Due from other governments 3,961,493 - 430,292 709,803 Advances to other funds - - - - Total assets 29,521,746$ 10,390,237$ 2,069,035$ 5,379,828$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES

Liabilities:

Accounts payable 1,261,673$ 179,695$ 39,213$ 254,046$ Payroll payable 78,390 75,466 24,903 38,366 Deposits payable - - - - Due to other funds - - 17,953 - Unearned revenues - 10,116,644 - - Total liabilities 1,340,063 10,371,805 82,069 292,412

Deferred Inflows of Resources
Unavailable revenue 3,969,212 - 962,916 - Total deferred inflows of resources 3,969,212 - 962,916 -

Fund Balances:

Restricted:

Development services and public works - 18,432 1,024,050 5,087,416 Public safety - - - - Neighborhood service 24,212,471 - - - Assessment district improvement - - - - Parks and recreation - - - - Total fund balances 24,212,471 18,432 1,024,050 5,087,416 Total liabilities, deferred inflows of
resources and fund balances 29,521,746$ 10,390,237$ 2,069,035$ 5,379,828$ American Rescue
Plan
Special Revenue Funds
Community
Development
Block Grant State Gas Tax
Miscellaneous
Grants
160
2,639,288$ 10,810,900$ 2,803,830$ 643,478$ 957,644$ 1,004,330$ 504,022$ - - 110,985 52,966 - - - - - 4,753,326 - - - - 18,830 102,632 21,384 4,589 8,078 7,726 3,866 - - 28 - 15,813 - - - - 304,435 - - - - 2,658,118$ 10,913,532$ 7,993,988$ 701,033$ 981,535$ 1,012,056$ 507,888$ 838,219$ -$ 5,046$ 1,528$ 106,143$ 2,410$ 34,824$ 6,498 3,033 7,321 - 7,220 - 1,138 - - 16,334 - - - - - - - - - - - - - - - - - - 844,717 3,033 28,701 1,528 113,363 2,410 35,962 - - 4,753,326 - - - - - - 4,753,326 - - - - 1,813,401 10,910,499 3,211,961 699,505 - - - - - - - - 1,009,646 471,926 - - - - - - - - - - - 868,172 - - - - - - - - - 1,813,401 10,910,499 3,211,961 699,505 868,172 1,009,646 471,926 2,658,118$ 10,913,532$ 7,993,988$ 701,033$ 981,535$ 1,012,056$ 507,888$ Proposition C
Vehicle Parking
District
Air Quality
Improvement
Landscape
Maintenance
District Asset Forfeiture Traffic Offender
Special Revenue Funds
Proposition A
161
City of Pomona
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
ASSETS
Cash and investments 4,044,217$ 5,519,601$ 3,395,285$ 233,719$ Receivables (net):

Accounts - - - - Notes and loans - - - - Interest 41,917 48,629 - - Due from other governments - - - - Advances to other funds - - - - Total assets 4,086,134$ 5,568,230$ 3,395,285$ 233,719$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES

Liabilities:

Accounts payable 88,932$ 63,707$ 3,245$ -$ Payroll payable 33,710 16,595 3,875 - Deposits payable - - - - Due to other funds - - - - Unearned revenues - - - - Total liabilities 122,642 80,302 7,120 -

Deferred Inflows of Resources
Unavailable revenue - - - - Total deferred inflows of resources - - - -

Fund Balances:

Restricted:

Development services and public works 3,963,492 5,487,928 3,388,165 233,719 Public safety - - - - Neighborhood service - - - - Assessment district improvement - - - - Parks and recreation - - - - Total fund balances 3,963,492 5,487,928 3,388,165 233,719 Total liabilities, deferred inflows of
resources and fund balances 4,086,134$ 5,568,230$ 3,395,285$ 233,719$ Measure R
Special Revenue Funds
Measure M Special Fees PEG Fee
162
Capital Project
Fund
561,043$ 766,133$ 9,689,532$ 956,758$ 2,526,031$ 1,707,816$ 240,153$ - - - - 156,353 - - - - - - - - - - - 81,261 - - 8,380 - - - - - 7,544 - - - - - - - - - 561,043$ 766,133$ 9,770,793$ 956,758$ 2,689,928$ 1,716,196$ 240,153$ -$ -$ 19,231$ -$ 331,641$ 2,800$ -$ - - 9,027 1,871 20,950 2,956 - - - - - - - 226,292 - - - - - - - 561,043 - 5,142,743 - - - - 561,043 - 5,171,001 1,871 352,591 5,756 226,292 - - - - - - - - - - - - - - - 766,133 4,599,792 - - - - - - - - - - - - - - - - - - - - - - - - 13,861 - - - 954,887 2,337,337 1,710,440 - - 766,133 4,599,792 954,887 2,337,337 1,710,440 13,861 561,043$ 766,133$ 9,770,793$ 956,758$ 2,689,928$ 1,716,196$ 240,153$ Pomona Fund for
Children and
Youth
Special Revenue Funds
Refuse
Administration
Assessment
District
ImprovementOATH Initiative
Fairplex Mitigation
Fund Measure W
Cannabis
Community
Benefit Fund
163
City of Pomona
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
Total Nonmajor
Governmental
Funds
ASSETS
Cash and investments 67,167,024$
Receivables (net):

Accounts 518,967
Notes and loans 28,580,976
Interest 416,993
Due from other governments 5,124,973
Advances to other funds 304,435
Total assets 102,113,368$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES

Liabilities:

Accounts payable 3,232,353$
Payroll payable 331,319
Deposits payable 242,626
Due to other funds 17,953
Unearned revenues 15,820,430
Total liabilities 19,644,681

Deferred Inflows of Resources
Unavailable revenue 9,685,454
Total deferred inflows of resources 9,685,454

Fund Balances:

Restricted:

Development services and public works 41,204,493
Public safety 1,481,572
Neighborhood service 24,212,471
Assessment district improvement 882,033
Parks and recreation 5,002,664
Total fund balances 72,783,233
Total liabilities, deferred inflows of
resources and fund balances 102,113,368$
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City of Pomona
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2025
REVENUES:

Taxes -$ -$ -$ -$ Special assessments - - - - Licenses, permits and fees - - - - Intergovernmental 11,775,521 23,088,671 2,678,500 8,376,005 Charges for services 392,726 - (117,271) - Use of money and properties 639,586 - 1,030 296,668 Miscellaneous 689,547 - - 22,739 Total revenues 13,497,380 23,088,671 2,562,259 8,695,412 EXPENDITURES:

Current:

General government 2,385,520 2,175,312 - - Public safety 895,121 2,003,204 - - Development services 6,788,721 3,433,335 1,348,813 4,924,215 Neighborhood services and library 1,002,723 - - - Capital outlay 436,133 3,155 - - Debt service:

Principal retirement - - - 59,710 Total expenditures 11,508,218 7,615,006 1,348,813 4,983,925

REVENUES OVER (UNDER)
EXPENDITURES 1,989,162 15,473,665 1,213,446 3,711,487 OTHER FINANCING SOURCES (USES):

Transfers in 97,566 - 189,123 131,750 Transfers out (364,268) (15,455,233) (1,329,689) (3,962,561) Proceeds from sale of property (438) - - - Total other financing sources (uses) (267,140) (15,455,233) (1,140,566) (3,830,811) Net change in fund balances 1,722,022 18,432 72,880 (119,324) FUND BALANCES:

Beginning of year
22,490,449 - 951,170 5,206,740 End of year 24,212,471$ 18,432$ 1,024,050$ 5,087,416$ Special Revenue Funds
Miscellaneous
Grants
Community
Development
Block Grant State Gas Tax
American Rescue
Plan
166
-$ -$ 22,772$ -$ -$ -$ -$ - - - - 1,251,248 - - - - - - - - - 3,961,653 3,258,581 - 202,826 - 105,203 - - - 54,949 - - - 196,813 154,217 657,120 751,699 32,443 30,353 42,069 17,220 - - - - 100 55,051 - 4,115,870 3,915,701 829,420 235,269 1,281,701 202,323 214,033 - - 762,378 - - 28,275 - - - - - - 121,052 48,628 4,301,436 182,096 - 41,722 1,215,321 13,402 - - - - - - - - - - - - - 25,692 83,282 - - - - - - - 4,301,436 182,096 762,378 41,722 1,215,321 188,421 131,910 (185,566) 3,733,605 67,042 193,547 66,380 13,902 82,123 - - - - - - - (194,152) (3,202,003) - - - - - - - - - - 3,168 650 (194,152) (3,202,003) - - - 3,168 650 (379,718) 531,602 67,042 193,547 66,380 17,070 82,773 2,193,119 10,378,897 3,144,919 505,958 801,792 992,576 389,153 1,813,401$ 10,910,499$ 3,211,961$ 699,505$ 868,172$ 1,009,646$ 471,926$ Special Revenue Funds
Air Quality
Improvement
Landscape
Maintenance
District Asset Forfeiture Traffic OffenderProposition A Proposition C Vehicle Parking
District
167
City of Pomona
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2025
REVENUES:

Taxes -$ -$ -$ -$ Special assessments - - - - Licenses, permits and fees - - 827,445 91,096 Intergovernmental 2,443,482 2,768,384 - - Charges for services - - - - Use of money and properties 286,301 319,803 - 4,416 Miscellaneous - - - - Total revenues 2,729,783 3,088,187 827,445 95,512 EXPENDITURES:

Current:

General government - - - - Public safety - - - - Development services 1,603,860 1,231,441 584,529 3,699 Neighborhood services and library - - - - Capital outlay - - - 42,068 Debt service:

Principal retirement - - - - Total expenditures 1,603,860 1,231,441 584,529 45,767

REVENUES OVER (UNDER)
EXPENDITURES 1,125,923 1,856,746 242,916 49,745 OTHER FINANCING SOURCES (USES):

Transfers in - - - - Transfers out (2,139,822) (1,255,874) (150,000) (9,273) Proceeds from sale of property - - - - Total other financing sources (uses) (2,139,822) (1,255,874) (150,000) (9,273) Net change in fund balances (1,013,899) 600,872 92,916 40,472 FUND BALANCES:

Beginning of year
4,977,391 4,887,056 3,295,249 193,247 End of year 3,963,492$ 5,487,928$ 3,388,165$ 233,719$ Special Revenue Funds
Measure R Measure M Special Fees PEG Fee
168
Capital Project
Fund
-$ 1,889,940$ 409,719$ -$ -$ -$ - - - - - - - - - - - - 465,920 - - 237,305 - - - - - 1,630,844 - - - 560,456 - (18,468) 42,938 - - - - 92,764 - - 465,920 2,450,396 409,719 1,942,445 42,938 - - - 57,096 326,774 - - - - 41,823 62,715 19,274 - - 803,121 - 967,668 2,800 - - - - - - - - - - - - - - - - - - - - 803,121 98,919 1,357,157 22,074 - 465,920 1,647,275 310,800 585,288 20,864 - - - - - 1,689,576 - (385,000) (1,057,640) (16,609) (100,000) - - - - - - - - (385,000) (1,057,640) (16,609) (100,000) 1,689,576 - 80,920 589,635 294,191 485,288 1,710,440 - 685,213 4,010,157 660,696 1,852,049 - 13,861 766,133$ 4,599,792$ 954,887$ 2,337,337$ 1,710,440$ 13,861$ Measure W
Refuse
Administration
Assessment
District
Improvement
Pomona Fund for
Children and
Youth
Special Revenue Funds
Fairplex Mitigation
Fund
Cannabis
Community
Benefit Fund
169
City of Pomona
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2025
Total Nonmajor
Governmental
Funds
REVENUES:

Taxes 2,322,431$
Special assessments 1,251,248
Licenses, permits and fees 918,541
Intergovernmental 59,362,051
Charges for services 2,158,061
Use of money and properties 3,817,851
Miscellaneous 860,201
Total revenues 70,690,384
EXPENDITURES:

Current:

General government 5,735,355
Public safety 3,191,817
Development services 27,446,179
Neighborhood services and library 1,002,723
Capital outlay 590,330
Debt service:

Principal retirement 59,710
Total expenditures 38,026,114

REVENUES OVER (UNDER)
EXPENDITURES 32,664,270
OTHER FINANCING SOURCES (USES):

Transfers in 2,108,015
Transfers out (29,622,124)
Proceeds from sale of property 3,380
Total other financing sources (uses) (27,510,729)
Net change in fund balances 5,153,541
FUND BALANCES:

Beginning of year
67,629,692
End of year 72,783,233$
170
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Miscellaneous Grants
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 21,560,711$ 38,146,620$ 11,775,521$ (26,371,099)$ Charges for services - - 392,726 392,726 Use of money and properties 137,344 226,073 639,586 413,513 Miscellaneous 954,250 681,238 689,547 8,309 Total revenues 22,652,305 39,053,931 13,497,380 (25,556,551) EXPENDITURES:

Current:

General government
981,873 3,492,592 2,385,520 1,107,072 Public safety 3,117,033 5,319,078 895,121 4,423,957 Development services 14,526,996 24,059,059 6,788,721 17,270,338 Neighborhood services and library 1,560,462 1,253,084 1,002,723 250,361 Capital outlay - 1,035,234 436,133 599,101 Total expenditures 20,186,364 35,159,047 11,508,218 23,650,829

REVENUES OVER (UNDER)
EXPENDITURES 2,465,941 3,894,884 1,989,162 (1,905,722) OTHER FINANCING SOURCES (USES):

Transfers in 97,560 97,560 97,566 6 Transfers out (3,695,398) (5,124,341) (364,268) 4,760,073 Total other financing sources (uses) (3,597,838) (5,026,781) (267,140) 4,759,641 Net change in fund balances (1,131,897)$ (1,131,897)$ 1,722,022 2,853,919$ FUND BALANCES:

Beginning of year
22,490,449
End of year 24,212,471$
Budgeted Amounts
171
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual American Rescue Plan
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 17,599,018$ 30,325,981$ 23,088,671$ (7,237,310)$ Total revenues 17,599,018 30,325,981 23,088,671 (7,237,310) EXPENDITURES:

Current:

General government 5,946,717 9,013,606 2,175,312 6,838,294 Public safety 2,290,490 4,587,358 2,003,204 2,584,154 Development services 5,112,011 9,394,971 3,433,335 5,961,636 Neighborhood services and library 486,770 973,550 - 973,550 Capital outlay - 123,278 3,155 120,123 Total expenditures 13,835,988 24,092,763 7,615,006 16,477,757

REVENUES OVER (UNDER)
EXPENDITURES 3,763,030 6,233,218 15,473,665 9,240,447 OTHER FINANCING SOURCES (USES):

Transfers out (3,763,030) (22,429,205) (15,455,233) 6,973,972 Total other financing sources (uses) (3,763,030) (22,429,205) (15,455,233) 6,973,972 Net change in fund balances -$ (16,195,987)$ 18,432 16,214,419$ FUND BALANCES:

Beginning of year, as restated -
End of year 18,432$
Budgeted Amounts
172
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Community Development Block Grant
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 2,145,458$ 2,513,538$ 2,678,500$ 164,962$ Use of money and properties - - 1,030 1,030 Total revenues 2,145,458 2,513,538 2,562,259 48,721 EXPENDITURES:

Current:

Development services
1,536,899 3,072,250 1,348,813 1,723,437 Total expenditures 1,536,899 3,072,250 1,348,813 1,723,437

REVENUES OVER (UNDER)
EXPENDITURES 608,559 (558,712) 1,213,446 1,772,158 OTHER FINANCING SOURCES (USES):

Transfers out (608,559) (648,559) (1,329,689) (681,130) Total other financing sources (uses) (608,559) (648,559) (1,140,566) (492,007) Net change in fund balances -$ (1,207,271)$ 72,880 1,280,151$ FUND BALANCES:

Beginning of year
951,170
End of year 1,024,050$
Budgeted Amounts
173
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual State Gas Tax
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 8,032,124$ 8,032,124$ 8,376,005$ 343,881$ Use of money and properties 142,088 142,088 296,668 154,580 Miscellaneous - - 22,739 22,739 Total revenues 8,174,212 8,174,212 8,695,412 521,200 EXPENDITURES:

Current:

Development services
4,697,875 4,697,875 4,924,215 (226,340) Debt service:

Principal retirement 66,000 66,000 59,710 6,290 Total expenditures 4,763,875 4,763,875 4,983,925 (220,050)

REVENUES OVER (UNDER)
EXPENDITURES 3,410,337 3,410,337 3,711,487 301,150 OTHER FINANCING SOURCES (USES):

Transfers in 131,750 131,750 131,750 - Transfers out (3,709,557) (3,668,636) (3,962,561) (293,925) Total other financing sources (uses) (3,577,807) (3,536,886) (3,830,811) 293,925 Net change in fund balances (167,470)$ (126,549)$ (119,324) 7,225$ FUND BALANCES:

Beginning of year 5,206,740
End of year 5,087,416$
Budgeted Amounts
174
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Proposition A
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 4,221,148$ 4,221,148$ 3,961,653$ (259,495)$ Use of money and properties 87,665 87,665 154,217 66,552 Total revenues 4,308,813 4,308,813 4,115,870 (192,943) EXPENDITURES:

Current:

Development services
3,895,613 4,604,452 4,301,436 303,016 Total expenditures 3,895,613 4,604,452 4,301,436 303,016

REVENUES OVER (UNDER)
EXPENDITURES 413,200 (295,639) (185,566) 110,073 OTHER FINANCING SOURCES (USES):

Transfers out (70,955) 137,884 (194,152) (332,036) Total other financing sources (uses) (70,955) 137,884 (194,152) (332,036) Net change in fund balances 342,245$ (157,755)$ (379,718) (221,963)$ FUND BALANCES:

Beginning of year
2,193,119
End of year 1,813,401$
Budgeted Amounts
175
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Proposition C
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 3,493,036$ 3,493,036$ 3,258,581$ (234,455)$ Use of money and properties 376,233 376,233 657,120 280,887 Total revenues 3,869,269 3,869,269 3,915,701 46,432 EXPENDITURES:

Current:

Development services
170,250 170,250 182,096 (11,846) Total expenditures 170,250 170,250 182,096 (11,846)

REVENUES OVER (UNDER)
EXPENDITURES 3,699,019 3,699,019 3,733,605 34,586 OTHER FINANCING SOURCES (USES):

Transfers out (3,390,177) (3,793,346) (3,202,003) 591,343 Total other financing sources (uses) (3,390,177) (3,793,346) (3,202,003) 591,343 Net change in fund balances 308,842$ (94,327)$ 531,602 625,929$ FUND BALANCES:

Beginning of year
10,378,897
End of year 10,910,499$
Budgeted Amounts
176
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Vehicle Parking District
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes (6,785)$ (6,785)$ 22,772$ 29,557$ Charges for services 71,800 71,800 54,949 (16,851) Use of money and properties 628,180 628,180 751,699 123,519 Total revenues 693,195 693,195 829,420 136,225 EXPENDITURES:

Current:

General government
812,703 812,703 762,378 50,325 Total expenditures 812,703 812,703 762,378 50,325

REVENUES OVER (UNDER)
EXPENDITURES (119,508) (119,508) 67,042 186,550 Net change in fund balances (119,508)$ (119,508)$ 67,042 186,550$ FUND BALANCES:

Beginning of year 3,144,919
End of year 3,211,961$
Budgeted Amounts
177
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Air Quality Improvement
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 200,000$ 200,000$ 202,826$ 2,826$ Use of money and properties 10,342 10,342 32,443 22,101 Total revenues 210,342 210,342 235,269 24,927 EXPENDITURES:

Current:

Development services
46,491 46,491 41,722 4,769 Total expenditures 46,491 46,491 41,722 4,769

REVENUES OVER (UNDER)
EXPENDITURES 163,851 163,851 193,547 29,696 OTHER FINANCING SOURCES (USES):

Transfers out (137,998) (137,998) - 137,998 Total other financing sources (uses) (137,998) (137,998) - 137,998 Net change in fund balances 25,853$ 25,853$ 193,547 167,694$ FUND BALANCES:

Beginning of year
505,958
End of year 699,505$
Budgeted Amounts
178
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Landscape Maintenance District
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Special assessments 1,253,000$ 1,253,000$ 1,251,248$ (1,752)$ Use of money and properties 11,616 11,616 30,353 18,737 Total revenues 1,264,616 1,264,616 1,281,701 17,085 EXPENDITURES:

Current:

Development services
1,242,806 1,242,806 1,215,321 27,485 Total expenditures 1,242,806 1,242,806 1,215,321 27,485

REVENUES OVER (UNDER)
EXPENDITURES 21,810 21,810 66,380 44,570 Net change in fund balances 21,810$ 21,810$ 66,380 44,570$ FUND BALANCES:

Beginning of year 801,792
End of year 868,172$
Budgeted Amounts
179
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Asset Forfeiture
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 39,000$ 39,000$ 105,203$ 66,203$ Charges for services 4,000 4,000 - (4,000) Use of money and properties 34,839 34,839 42,069 7,230 Miscellaneous 28,000 28,000 55,051 27,051 Total revenues 105,839 105,839 202,323 96,484 EXPENDITURES:

Current:

General government
63,645 54,876 28,275 26,601 Public safety 657,565 284,184 121,052 163,132 Development services 52,400 36,340 13,402 22,938 Capital outlay - 402,560 25,692 376,868 Total expenditures 773,610 777,960 188,421 589,539

REVENUES OVER (UNDER)
EXPENDITURES (667,771) (672,121) 13,902 686,023 OTHER FINANCING SOURCES (USES):

Proceeds from sale of property - - 3,168 3,168 Total other financing sources (uses) - - 3,168 3,168 Net change in fund balances (667,771)$ (672,121)$ 17,070 689,191$ FUND BALANCES:

Beginning of year
992,576
End of year 1,009,646$
Budgeted Amounts
180
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Traffic Offender
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Charges for services 198,957$ 198,957$ 196,813$ (2,144)$ Use of money and properties 21,150 21,150 17,220 (3,930) Total revenues 220,107 220,107 214,033 (6,074) EXPENDITURES:

Current:

Public safety
238,191 148,444 48,628 99,816 Capital outlay 14,447 106,079 83,282 22,797 Total expenditures 252,638 254,523 131,910 122,613

REVENUES OVER (UNDER)
EXPENDITURES (32,531) (34,416) 82,123 116,539 OTHER FINANCING SOURCES (USES):

Proceeds from sale of property - - 650 650 Total other financing sources (uses) - - 650 650 Net change in fund balances (32,531)$ (34,416)$ 82,773 117,189$ FUND BALANCES:

Beginning of year 389,153
End of year 471,926$
Budgeted Amounts
181
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Measure R
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 2,619,777$ 2,619,777$ 2,443,482$ (176,295)$ Use of money and properties 151,640 151,640 286,301 134,661 Total revenues 2,771,417 2,771,417 2,729,783 (41,634) EXPENDITURES:

Current:

Development services
1,821,519 1,743,069 1,603,860 139,209 Capital outlay - 78,450 - 78,450 Total expenditures 1,821,519 1,821,519 1,603,860 217,659

REVENUES OVER (UNDER)
EXPENDITURES 949,898 949,898 1,125,923 176,025 OTHER FINANCING SOURCES (USES):

Transfers out (492,192) (459,074) (2,139,822) (1,680,748) Total other financing sources (uses) (492,192) (459,074) (2,139,822) (1,680,748) Net change in fund balances 457,706$ 490,824$ (1,013,899) (1,504,723)$ FUND BALANCES:

Beginning of year 4,977,391
End of year 3,963,492$
Budgeted Amounts
182
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Measure M
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 2,969,081$ 2,969,081$ 2,768,384$ (200,697)$ Use of money and properties 157,129 157,129 319,803 162,674 Total revenues 3,126,210 3,126,210 3,088,187 (38,023) EXPENDITURES:

Current:

Development services
1,903,059 1,769,745 1,231,441 538,304 Capital outlay - 133,314 - 133,314 Total expenditures 1,903,059 1,903,059 1,231,441 671,618

REVENUES OVER (UNDER)
EXPENDITURES 1,223,151 1,223,151 1,856,746 633,595 OTHER FINANCING SOURCES (USES):

Transfers out (1,275,501) (872,332) (1,255,874) (383,542) Total other financing sources (uses) (1,275,501) (872,332) (1,255,874) (383,542) Net change in fund balances (52,350)$ 350,819$ 600,872 250,053$ FUND BALANCES:

Beginning of year 4,887,056
End of year 5,487,928$
Budgeted Amounts
183
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Special Fees
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Licenses, permits and fees 601,500$ 601,500$ 827,445$ 225,945$ Total revenues 601,500 601,500 827,445 225,945 EXPENDITURES:

Current:

Development services 1,109,941 2,219,882 584,529 1,635,353 Total expenditures 1,109,941 2,219,882 584,529 1,635,353

REVENUES OVER (UNDER)
EXPENDITURES (508,441) (1,618,382) 242,916 1,861,298 Net change in fund balances (508,441)$ (1,918,382)$ 92,916 2,011,298$ FUND BALANCES:

Beginning of year 3,295,249
End of year 3,388,165$
Budgeted Amounts
184
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual PEG Fee
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Licenses, permits and fees 100,000$ 100,000$ 91,096$ (8,904)$ Use of money and properties - - 4,416 4,416 Total revenues 100,000 100,000 95,512 (4,488) EXPENDITURES:

Capital outlay
39,400 45,474 42,068 3,406 Total expenditures 39,400 49,210 45,767 3,443

REVENUES OVER (UNDER)
EXPENDITURES 60,600 50,790 49,745 (1,045) OTHER FINANCING SOURCES (USES):

Transfers out - - (9,273) (9,273) Total other financing sources (uses) - - (9,273) (9,273) Net change in fund balances 60,600$ 50,790$ 40,472 (10,318)$ FUND BALANCES:

Beginning of year 193,247
End of year 233,719$
Budgeted Amounts
185
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Fairplex Mitigation Fund
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 300,000$ 300,000$ 465,920$ 165,920$ Total revenues 300,000 300,000 465,920 165,920 OTHER FINANCING SOURCES (USES):

Transfers out - (385,000) (385,000) - Total other financing sources (uses) - (385,000) (385,000) - Net change in fund balances 300,000$ (85,000)$ 80,920 165,920$ FUND BALANCES:

Beginning of year
685,213
End of year 766,133$
Budgeted Amounts
186
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Measure W
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes 1,873,385$ 1,873,385$ 1,889,940$ 16,555$ Use of money and properties 253,881 253,881 560,456 306,575 Total revenues 2,127,266 2,127,266 2,450,396 323,130 EXPENDITURES:

Current:

Development services
1,091,479 1,091,479 803,121 288,358 Total expenditures 1,091,479 1,091,479 803,121 288,358

REVENUES OVER (UNDER)
EXPENDITURES 1,035,787 1,035,787 1,647,275 611,488 OTHER FINANCING SOURCES (USES):

Transfers out (2,188,820) (2,188,820) (1,057,640) 1,131,180 Total other financing sources (uses) (2,188,820) (2,188,820) (1,057,640) 1,131,180 Net change in fund balances (1,153,033)$ (1,153,033)$ 589,635 1,742,668$ FUND BALANCES:

Beginning of year
4,010,157
End of year 4,599,792$
Budgeted Amounts
187
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Cannabis Community Benefit Fund
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes 400,000$ 400,000$ 409,719$ 9,719$ Total revenues 400,000 400,000 409,719 9,719 EXPENDITURES:

Current:

General government - - 57,096 (57,096) Public safety - - 41,823 (41,823) Development services 500,000 500,000 - 500,000 Total expenditures 500,000 500,000 98,919 401,081

REVENUES OVER (UNDER)
EXPENDITURES (100,000) (100,000) 310,800 410,800 OTHER FINANCING SOURCES (USES):

Transfers out - - (16,609) (16,609) Total other financing sources (uses) - - (16,609) (16,609) Net change in fund balances (100,000)$ (100,000)$ 294,191 394,191$ FUND BALANCES:

Beginning of year 660,696
End of year 954,887$
Budgeted Amounts
188
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Refuse Administration
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 95,283$ 95,283$ 237,305$ 142,022$ Charges for services 1,505,000 1,505,000 1,630,844 125,844 Use of money and properties - - (18,468) (18,468) Miscellaneous - - 92,764 92,764 Total revenues 1,600,283 1,600,283 1,942,445 342,162 EXPENDITURES:

Current:

General government
492,798 533,717 326,774 206,943 Public safety 62,000 62,716 62,715 1 Development services 118,840 1,104,157 967,668 136,489 Total expenditures 673,638 1,700,590 1,357,157 343,433

REVENUES OVER (UNDER)
EXPENDITURES 926,645 (100,307) 585,288 685,595 OTHER FINANCING SOURCES (USES):

Transfers in - 403,970 - (403,970) Transfers out (750,000) (750,000) (100,000) 650,000 Total other financing sources (uses) (750,000) (346,030) (100,000) 246,030 Net change in fund balances 176,645$ (446,337)$ 485,288 931,625$ FUND BALANCES:

Beginning of year
1,852,049
End of year 2,337,337$
Budgeted Amounts
189
City of Pomona
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Pomona Fund for Children and Youth
For the year ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Use of money and properties -$ -$ 42,938$ 42,938$ Total revenues - - 42,938 42,938 EXPENDITURES:

Current:

Public safety - 36,479 19,274 17,205 Development services - 25,000 2,800 22,200 Total expenditures - 61,479 22,074 39,405

REVENUES OVER (UNDER)
EXPENDITURES - (61,479) 20,864 82,343 OTHER FINANCING SOURCES (USES):

Transfers in - 1,645,780 1,689,576 43,796 Total other financing sources (uses) - 1,645,780 1,689,576 43,796 Net change in fund balances -$ 1,584,301$ 1,710,440 126,139$ FUND BALANCES:

Beginning of year, as restated -
End of year 1,710,440$
Budgeted Amounts
190
City of Pomona
Combining Statement of Net Position
Nonmajor Enterprise Funds
June 30, 2025
Totals
ASSETS
Current Assets:

Cash and investments 7,441,161$ -$ 7,441,161$
Receivables (net):

Accounts 170 170
Total current assets 7,441,331 - 7,441,331
Noncurrent:

Total assets 7,441,331 - 7,441,331

DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources related to pensions 979,120 - 979,120 Deferred outflows of resources related to OPEB 339,230 - 339,230 Total deferred outflows of resources 1,318,350 - 1,318,350

LIABILITIES
Current liabilities:

Total OPEB liability - current 209,405 - 209,405
Long-term debt - current portion 138,939 - 138,939
Total current liabilities 348,344 - 348,344
Noncurrent liabilities:

Net pension liability 547,192 - 547,192
Total OPEB liability 3,290,082 - 3,290,082
Long-term debt 3,951,283 - 3,951,283
Total noncurrent liabilities 7,788,557 - 7,788,557
Total liabilities 8,136,901 - 8,136,901

DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to OPEB 726,335 - 726,335 Total deferred inflows of resources 726,335 - 726,335

NET POSITION
Unrestricted (103,555) - (103,555)
Total net position (103,555)$ -$ (103,555)$
Refuse
Canon Water
Company
191
City of Pomona
Combining Statement of Revenues, Expenses and Changes in Net Position Nonmajor Enterprise Funds
For the year ended June 30, 2025
Totals
OPERATING REVENUES:

Charges for services 210$ -$ 210$
Miscellaneous 1,367 - 1,367
Total operating revenues 1,577 - 1,577
OPERATING EXPENSES:

Operations 12,045 12,045
Total operating expenses 12,045 - 12,045
Operating income (loss) (10,468) - (10,468)
NONOPERATING REVENUES (EXPENSES):

Investment income 48,892 48,892
Total nonoperating revenues (expenses) 48,892 - 48,892 Income before contributions and transfers 38,424 - 38,424 CONTRIBUTIONS AND TRANSFERS:

Transfers out (2,483,872) - (2,483,872)
Total contributions and transfers (2,483,872) - (2,483,872) Change in net position (2,445,448) - (2,445,448)
NET POSITION:

Beginning of year 2,341,893 381,480 155,099,642
Restatements - (381,480) (381,480)
Beginning of year, as restated 2,341,893 - 154,718,162 End of year (103,555)$ -$ 152,272,714$
Refuse
Canon Water
Company
192
City of Pomona
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
For the year ended June 30, 2025
Totals
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers and users (115,086)$ -$ (115,086)$ Cash paid to suppliers for goods and services (12,074) - (12,074) Cash paid for general and administrative expenses (744) - (744) Net cash provided by (used in) operating activities (127,904) - (127,904) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:

Cash transfers out (2,483,872) - (2,483,872)
Net cash provided by (used in) noncapital financing activities (2,483,872) - (2,483,872) CASH FLOWS FROM INVESTING ACTIVITIES:

Interest received (loss) 48,892 - 48,892
Net cash provided by (used in) investing activities 48,892 - 48,892 Net cash flows (2,562,884) - (2,562,884)
CASH AND INVESTMENTS - Beginning of year, as restated 10,004,045 - 10,004,045 CASH AND INVESTMENTS - End of year 7,441,161$ -$ 7,441,161$

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

Operating income (loss) (10,468)$ -$ (10,468)$
Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities:
(Increase) decrease in accounts receivable 13,081 - 13,081 Increase (decrease) in accounts payable (29) - (29) Increase (decrease) in payroll payable (744) - (744) Increase (decrease) in unearned revenue (129,744) - (129,744) Net cash provided by (used in) operating activities (127,904)$ -$ (127,904)$ Refuse
Canon Water
Company
193
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City of Pomona
Internal Service Funds
Year Ended June 30, 2025
The Internal Service Funds account for maintenance and repair of City vehicles and equipment, risk management, general liability, workers' compensation, information technology, and printing and mail service provided to other departments or agencies of the City.
195
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196
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City of Pomona
Combining Statement of Net Position
Internal Service Funds
June 30, 2025
ASSETS
Current Assets:

Cash and investments 11,699,885$ 2,196,046$ 1,686,911$ -$ Receivables (net):

Interest 162,009 - - - Inventories - 394,681 - - Total current assets 11,861,894 2,590,727 1,686,911 - Noncurrent:

Capital assets:

Depreciable capital assets 6,094 580,939 581,833 - Accumulated depreciation (1,828) (512,687) (281,122) - Net capital assets 4,266 68,252 300,711 - Total noncurrent assets 4,266 68,252 300,711 - Total assets 11,866,160 2,658,979 1,987,622 - DEFERRED OUTFLOWS OF RESOURCES Deferred outflows of resources related to pensions 98,486 251,170 222,407 - Deferred outflows of resources related to OPEB 25,937 94,707 82,167 - Total deferred outflows of resources 124,423 345,877 304,574 - LIABILITIES Current liabilities:

Accounts payable 25,983 106,491 184,186 5,804 Payroll payable 24,963 45,713 48,496 - Due to other funds - - - 17,654 Compensated absences - current 57,801 204,642 203,161 - Claims and judgements - current 14,049,000 - - - Total OPEB liability - current 26,733 97,614 84,689 - Long-term debt - current portion 35,611 112,715 75,470 - Total current liabilities 14,220,091 567,175 596,002 23,458 Noncurrent liabilities:

Compensated absences 19,267 68,214 67,720 - Claims and judgements 19,755,861 - - - Net pension liability 87,691 225,378 202,721 - Total OPEB liability 420,019 1,533,661 1,330,598 - Long-term debt 762,761 2,414,240 1,616,491 - Total noncurrent liabilities 21,045,599 4,241,493 3,217,530 - Total liabilities 35,265,690 4,808,668 3,813,532 23,458 DEFERRED INFLOWS OF RESOURCES Deferred inflows of resources related to pension 1,926 4,457 3,121 - Deferred inflows of resources related to OPEB 66,386 242,403 210,308 - Total deferred inflows of resources 68,312 246,860 213,429 -

NET POSITION
Net investment in capital assets 4,266 68,252 300,711 - Unrestricted (23,347,685) (2,118,924) (2,035,476) (23,458) Total net position (23,343,419)$ (2,050,672)$ (1,734,765)$ (23,458)$ Self-Insurance
Printing/Mailing
Services
Information
Technology
Equipment
Maintenance
198
Totals
-$ 2$ 15,582,844$ - - 162,009 - - 394,681 - 2 16,139,534 - - 1,168,866 - - (795,637) - - 373,229 - - 373,229 - 2 16,512,763 - - 572,063 - - 202,811 - - 774,874 11,709 - 334,173 - - 119,172 476,695 - 494,349 - - 465,604 - - 14,049,000 - - 209,036 - - 223,796 488,404 - 15,895,130 - - 155,201 - - 19,755,861 - - 515,790 - - 3,284,278 - - 4,793,492 - - 28,504,622 488,404 - 44,399,752 - - 9,504 - - 519,097 - - 528,601 - - 373,229 (488,404) 2 (28,013,945) (488,404)$ 2$ (27,640,716)$ Pension ObligationPayroll
199
City of Pomona
Combining Statement of Revenues, Expenses and Changes in Net Position Internal Service Funds
For the year ended June 30, 2025
OPERATING REVENUES:

Charges for services 8,350,923$ 4,327,871$ 3,747,766$ 15,293$ Miscellaneous 649,733 - - - Total operating revenues 9,000,656 4,327,871 3,747,766 15,293 OPERATING EXPENSES:

Personnel services 31,488 1,971,647 1,575,166 - Operations 54,535 2,209,719 1,552,738 38,751 Claims expense 14,750,747 - - - Depreciation expense 609 9,351 39,999 - Total operating expenses 14,837,379 4,190,717 3,167,903 38,751 Operating income (loss) (5,836,723) 137,154 579,863 (23,458) NONOPERATING REVENUES (EXPENSES):

Investment income 889,268 - - - Interest expense (27,356) (86,586) (57,975) - Gain (loss) on disposal of capital assets - 1,900 - - Total nonoperating revenues (expenses) 861,912 (84,686) (57,975) - Income before contributions and transfers (4,974,811) 52,468 521,888 (23,458) CONTRIBUTIONS AND TRANSFERS:

Transfers in 60,826 448,266 128,906 - Transfers out - - - - Total contributions and transfers 60,826 448,266 128,906 - Change in net position (4,913,985) 500,734 650,794 (23,458) NET POSITION:

Beginning of year (18,429,434) (2,551,406) (2,385,559) - End of year (23,343,419)$ (2,050,672)$ (1,734,765)$ (23,458)$ Self-Insurance
Equipment
Maintenance
Information
Technology
Printing/Mailing
Services
200
Totals
47,170,422$ 15,085,568$ 78,697,843$ - - 649,733 47,170,422 15,085,568 79,347,576 47,206,474 - 50,784,775 - - 3,855,743 - - 14,750,747 - - 49,959 47,206,474 - 69,441,224 (36,052) 15,085,568 9,906,352 - - 889,268 - - (171,917) - - 1,900 - - 719,251 (36,052) 15,085,568 10,625,603 - - 637,998 - (15,085,567) (15,085,567) - (15,085,567) (14,447,569) (36,052) 1 (3,821,966) (452,352) 1 (23,818,750) (488,404)$ 2$ (27,640,716)$ Payroll Pension Obligation
201
City of Pomona
Combining Statement of Cash Flows
Internal Service Funds
For the year ended June 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers and users 9,025,897$ 4,327,871$ 3,747,766$ Cash paid to suppliers for goods and services (11,292,793) (2,234,512) (1,454,081) Cash paid for general and administrative expenses 139,347 (1,560,172) (1,512,289) Net cash provided by (used in) operating activities (2,127,549) 533,187 781,396 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:

Cash transfers in 60,826 448,266 128,906 Cash transfers out - - - Repayment made from (to) other funds - - - Net cash provided by (used in)
noncapital financing activities 60,826 448,266 128,906 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:

Acquisition and construction of capital assets - - (225,453) Proceeds from sale of capital asset 1,899
Principal paid on capital debt (33,469) (105,936) (70,931) Interest paid on capital debt (27,356) (86,586) (57,975) Net cash provided by (used in)
capital and related financing activities (60,825) (190,623) (354,359) CASH FLOWS FROM INVESTING ACTIVITIES:

Interest received (loss) 871,847 - - Net cash provided by (used in) investing activities 871,847 - - Net cash flows (1,255,701) 790,830 555,943 CASH AND INVESTMENTS - Beginning of year 12,955,586 1,405,216 1,130,968 CASH AND INVESTMENTS - End of year 11,699,885$ 2,196,046$ 1,686,911$

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

Operating income (loss) (5,836,723)$ 137,154$ 579,863$ Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities:

Depreciation 609 9,351 39,999 (Increase) decrease in accounts receivable 25,241 - - (Increase) decrease in inventories - 22,704 - (Increase) decrease in deferred outflows of resources related to pensions 70,801 199,058 209,809 (Increase) decrease in deferred outflows of resources related to other post employment benefits (5,270) (12,041) 5,666 Increase (decrease) in accounts payable (30,372) (47,497) 98,657 Increase (decrease) in payroll payable 11,681 7,000 1,971 Increase (decrease) in claims and judgements 3,542,861 - - Increase (decrease) in compensated absences 30,349 76,692 59,718 Increase (decrease) in net OPEB liability 112,685 295,007 (4,498) Increase (decrease) in net pension liability (51,610) (145,103) (152,940) Increase (decrease) in deferred inflows of resources related to pensions (4,381) (12,318) (12,983) Increase (decrease) in deferred inflows of resources related to OPEB 6,580 3,180 (43,866) Net cash provided by (used in) operating activities (2,127,549)$ 533,187$ 781,396$ Information
Technology
Equipment
MaintenanceSelf-Insurance
202
Totals
15,293$ 47,170,561$ 15,085,568$ 79,372,956$ (33,650) (40,006) - (15,055,042) - (47,206,474) - (50,139,588) (18,357) (75,919) 15,085,568 14,178,326 - - - 637,998 - - (15,085,567) (15,085,567) 17,654 75,919 - 93,573 17,654 75,919 (15,085,567) (14,353,996) - - - (225,453) 1,899
- - - (210,336) - - - (171,917) - - - (605,807) - - - 871,847 - - - 871,847 (703) - 1 90,370 703 - 1 15,492,474 -$ -$ 2$ 15,582,844$ (23,458)$ (36,052)$ 15,085,568$ 9,906,352$ - - - 49,959 - 139 - 25,380 - - - 22,704 - - - 479,668 - - - (11,645) 5,101 (40,006) - (14,117) - - - 20,652 - - - 3,542,861 - - - 166,759 - - - 403,194 - - - (349,653) - - - (29,682) - - - (34,106) (18,357)$ (75,919)$ 15,085,568$ 14,178,326$ Pension ObligationPayroll
Printing/Mailing
Services
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City of Pomona
Custodial Funds
Year Ended June 30, 2025
The City of Pomona has established the following agency funds, which are used to account for funds held by the City as an agent for private donations and programs operated jointly with other local agencies:
1911 Act Assessment District Fund.This fund was established to account for the financial activities of assessment funds received through property taxes collected by the County of Los Angeles for Pomona Business Improvement District (PBID). The PBID provides services to promote business growth and stability for businesses within the district.

HOST Fund. This fund was established to account for the financial activities of the Los Angeles County Homeless Outreach Services Teams (“HOST”) program. The mission of the law enforcement HOST is to work collaboratively with public and private partners to assist homeless individuals and address problems associated with homeless encampments. The City of Pomona acts as the “Fiscal Agent” for the Los Angeles County Police Chiefs’ Association (“LACPCA”) and is responsible for reimbursing subrecipients for expenses incurred for the deployment of law enforcement within the HOST program.

The City also reimburses administrative costs for Lead Regional Coordinating Agencies, tracks expenditures and notifies HOST coordinators of funding availability. 205
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City of Pomona
Combining Statement of Fiduciary Net Position
Custodial Funds
For the year ended June 30, 2025
1911 Act Assessment
Fund District Fund HOST Fund
Total Custodial
Funds
ASSETS
Cash and investments 121,794$ -$ 121,794$ Receivables:

Accounts - 619,220 619,220 Due from other governments 39,890 - 39,890 Total assets 161,684 619,220 780,904

LIABILITIES
Accounts payable 25,880 619,220 645,100 Total liabilities 25,880 619,220 645,100

NET POSITION
Restricted for
Individuals, organizations, and other governments 135,804 - 135,804 Total net position 135,804$ -$ 135,804$ 207
City of Pomona
Combining Statement of Changes in Fiduciary Net Position Custodial Funds
For the year ended June 30, 2025
1911 Act Assessment
Fund District Fund HOST Fund
Total Custodial
Funds
ADDITIONS:

Intergovernmental -$ 1,316,424$ 1,316,424$ Collections of special taxes 862,814 - 862,814 Total additions 862,814 1,316,424 2,179,238 DEDUCTIONS:

Neighborhood services and library - 1,316,424 1,316,424 Refunds on contribution 862,451 - 862,451 Contractual services 58,502 - 58,502 Total deductions 920,953 1,316,424 2,237,377 Net increase (decrease) in fiduciary net position (58,139) - (58,139) NET POSITION:

Beginning of year 5,990 - 5,990 Prior Period Adjustment 187,953 - 187,953 Beginning of year, as restated 193,943 - 193,943 End of year 135,804$ -$ 135,804$ 208
This part of the City of Pomona's annual comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City's overall financial health.

Contents Page
Financial Trends - These schedules contain information to help the reader to understand how the City's financial performance and well-being have changed over time. 1 Net Position by Component 211
2 Changes in Net Position 212
3 Fund Balances - Governmental Funds 213
4 Changes in Fund Balances - Governmental Funds 215
5 Governmental Activities Tax Revenues by Source 216
Revenue Capacity - These schedules contain information to help the reader assess the City's most significant own-source revenue.
6 Assessed Value and Estimated Actual Value of Taxable Property 217 7 Property Tax Rates - Direct and Overlapping Governments 218 8 Principal Property Taxpayers 219
9 Top 25 Sales Tax Generators 220
10 Property Tax Levies and Collections 221
Debt Capacity - These schedules present information to help the reader assess the affordability of the City's current levels of outstanding debt and the City's ability to issue additional debt in the future. 11 Ratios of Outstanding Debt by Type 222
12 Ratios of General Bonded Debt Outstanding 223
13 Direct and Overlapping Debt 224
14 Legal Debt Margin Information 225
15 Pledged Revenue Coverage - Water 226
16 Pledged Revenue Coverage - Sewer 227
Demographic and Economic Information - These schedules offer demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place. 17 Demographic and Economic Statistics 228
18 Principal Employers 229
Operating Information - These schedules contain service and infrastructure data to help the reader understand how the information in the City's financial report relates to the services the City provides and the activities it performs.
19 Authorized Full-Time City Employees by Function 230
20 Operating Indicators by Function 231
21 Capital Asset Statistics by Function 232
Statistical Section (Unaudited)
209
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210
City of Pomona Schedule 1
Net Position by Component
Last Ten Fiscal Years
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Governmental activities:

Net investment in
capital assets 224,471,223$ 234,174,328$ 239,698,525$ 246,211,473$ 249,865,379$ 266,039,124$ 225,279,591$ 238,768,792$ 261,475,126$ 296,702,531$ Restricted 116,594,550 73,828,441 76,492,595 78,464,005 73,644,455 78,568,882 154,307,326 160,126,809 101,106,912 171,711,866 Unrestricted (227,001,243) (241,201,601) (257,496,100) (263,613,107) (276,437,035) (306,914,581) (316,498,645) (291,589,857) (235,515,073) (298,900,175) Total governmental
activities net position 114,064,530$ 66,801,168$ 58,695,020$ 61,062,371$ 47,072,799$ 37,693,425$ 63,088,272$ 107,305,744$ 127,066,965$ 169,514,222$ Business-type activities:

Net investment in
capital assets 42,988,769$ 47,223,963$ 49,968,356$ 50,227,346$ 52,662,674$ 59,159,108$ 58,873,617$ 64,687,296$ 81,056,280$ 80,890,097$ Restricted 23,984,978 1,885,849 7,352,171 7,474,831 7,526,741 - 7,771,426 Unrestricted 25,022,337 22,446,812 15,446,370 18,984,171 24,753,618 29,670,621 42,862,852 56,948,374 80,229,822 81,955,150 Total business-type
activities net position 91,996,084$ 71,556,624$ 72,766,897$ 76,686,348$ 84,943,033$ 88,829,729$ 101,736,469$ 121,635,670$ 161,286,102$ 170,616,673$ Primary government:

Net investment in
capital assets 267,459,992$ 281,398,291$ 289,666,881$ 296,438,819$ 302,528,053$ 325,198,232$ 284,153,208$ 303,456,088$ 342,531,406$ 377,592,628$ Restricted 140,579,528 75,714,290 83,844,766 85,938,836 81,171,196 78,568,882 154,307,326 160,126,809 101,106,912 179,483,292 Unrestricted (201,978,906) (218,754,789) (242,049,730) (244,628,936) (251,683,417) (277,243,960) (276,635,793) (234,641,483) (155,285,251) (216,945,025) Total primary
government net position 206,060,614$ 138,357,792$ 131,461,917$ 137,748,719$ 132,015,832$ 126,523,154$ 161,824,741$ 228,941,414$ 288,353,067$ 340,130,895$ Fiscal Year
211
City of Pomona Schedule 2
Changes in Net Position
Last Ten Fiscal Years
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Expenses
Governmental activities:

General government 7,562,244$ 6,469,953$ 17,361,635$ 18,396,137$ 9,102,528$ 55,348,138$ 4,356,429$ 11,474,339$ 22,972,315$ 19,511,583$ Public safety 68,882,651 80,253,767 90,198,911 88,946,880 105,018,750 84,002,230 91,066,227 91,456,253 118,255,484 121,155,046 Urban development 43,544,386 42,113,740 39,353,774 46,536,121 58,913,340 44,459,455 61,937,835 69,593,760 77,202,958 90,923,951 Neighborhood services 7,853,695 7,410,753 7,624,657 7,399,533 5,800,930 2,052,663 5,713,662 8,664,803 9,526,403 10,299,924 Interest on long-term debt 5,027,126 5,225,017 4,011,254 2,941,398 3,197,362 6,985,609 12,583,888 9,070,056 8,924,378 8,398,443 Total governmental activities 132,870,102 141,473,230 158,550,231 164,220,069 182,032,910 192,848,095 175,658,041 190,259,211 236,881,538 250,288,947 Business-type activities:

Water 25,763,116 28,440,029 30,919,855 27,912,991 28,007,704 33,815,407 33,122,484 34,323,484 36,480,501 41,788,217 Sewer 4,026,081 3,792,538 4,067,892 4,379,232 2,747,675 4,077,798 3,548,204 3,738,556 3,227,008 6,260,433 Refuse 8,028,531 9,443,548 10,197,844 9,934,035 9,955,161 11,274,763 9,905,436 11,793,085 41,169 12,045 Canon Water Company 21,080 19,718 29,972 26,695 28,741 12,213 15,334 12,874 20,181 Pomona Choice Energy Authority - - - - 833,607 9,999,345 35,805,533 40,560,949 48,323,146 55,794,714 Total business-type activities 37,838,808 41,695,833 45,215,563 42,252,953 41,572,888 59,179,526 82,396,991 90,428,948 88,092,005 103,855,409 Total primary
government expenses 170,708,910$ 183,169,063$ 203,765,794$ 206,473,022$ 223,605,798$ 252,027,621$ 258,055,032$ 280,688,159$ 324,973,543$ 354,144,356$ Program Revenues
Governmental activities:

Charges for services:

Police revenues 3,376,174$ 3,205,255$ 3,468,394$ 2,932,265$ 1,648,147$ 1,939,445$ 2,510,365$ 2,459,401$ 3,922,311$ 3,869,877$ Plan check fees 1,219,738 988,963 866,034 1,110,162 1,282,955 1,339,362 2,367,716 2,045,215 1,708,857 1,605,910 Building permits 2,353,704 1,790,114 1,925,425 2,108,774 2,058,052 1,541,953 2,118,063 2,966,494 2,887,757 2,281,621 Graffiti abatement 568,757 566,597 556,879 18,721 - - - - - Street sweeping fees 476,646 474,051 465,927 15,030 - - - - - Maintenance assessment fees 1,176,050 1,200,732 1,191,903 1,216,193 1,218,872 1,252,382 1,254,821 1,254,901 1,250,798 1,251,248 All other 8,100,519 5,900,327 5,667,496 6,502,456 27,387,658 17,540,264 20,313,269 27,050,625 29,639,237 22,495,250 Operating contributions and grants 16,994,223 29,965,692 35,876,846 45,323,992 30,066,570 33,900,809 34,109,034 39,975,238 49,211,293 59,558,054 Capital contributions and grants 11,413,949 8,071,688 8,191,910 6,477,530 14,964,309 14,909,220 20,129,121 25,202,916 21,919,070 39,808,870 Total governmental
activities program revenues 45,679,760 52,163,419 58,210,814 65,705,123 78,626,563 72,423,435 82,802,389 100,954,790 110,539,323 130,870,831 Business-type activities:

Charges for services:

Water 28,189,546 29,239,473 29,713,762 30,537,806 32,467,193 37,712,920 41,466,399 41,521,595 45,771,420 45,763,175 Sewer 4,425,247 4,291,847 4,312,373 4,795,076 5,557,690 6,575,382 7,220,461 7,256,994 7,392,478 7,132,641 Refuse 9,692,936 10,071,188 10,104,225 10,600,103 10,889,767 11,089,435 11,552,713 11,607,630 295,304 210 Canon Water Company 64,221 64,221 64,221 - - - - Pomona Choice Energy Authority - - - - - 10,578,321 34,839,553 48,865,705 57,244,513 61,201,849 Operating contributions and grants 45,841 396,147 4,137,026 83,280 41,458 17,006 873,544 218,517 - Capital contributions and grants - - - - - - - Total business-type
activities program revenues 42,417,791 44,062,876 48,331,607 46,016,265 48,956,108 65,973,064 95,952,670 109,470,441 110,703,715 114,097,875 Total primary government
program revenues 88,097,551$ 96,226,295$ 106,542,421$ 111,721,388$ 127,582,671$ 138,396,499$ 178,755,059$ 210,425,231$ 221,243,038$ 244,968,706$ Fiscal Year
212
City of Pomona Schedule 2
Changes in Net Position, Continued
Last Ten Fiscal Years
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Net (Expense)/Revenue
Governmental activities (87,190,342)$ (89,309,811)$ (100,339,417)$ (98,514,946)$ (103,406,347)$ (120,424,660)$ (92,855,652)$ (89,304,421)$ (126,342,215)$ (119,418,116)$ Business-type activities 4,578,983 2,367,043 3,116,044 3,763,312 7,383,220 6,793,538 13,555,679 19,041,493 22,611,710 10,242,466 Total primary
government net expense (82,611,359)$ (86,942,768)$ (97,223,373)$ (94,751,634)$ (96,023,127)$ (113,631,122)$ (79,299,973)$ (70,262,928)$ (103,730,505)$ (109,175,650)$ General Revenues and
Other Changes in Net Position
Governmental activities:

Taxes:

Property taxes 33,716,887$ 33,649,454$ 35,564,811$ 39,212,060$ 38,634,967$ 44,131,198$ 44,838,946$ 48,293,968$ 50,233,560$ 53,327,529$ Sales taxes 15,171,472 18,135,287 18,913,339 22,239,249 30,407,998 34,340,732 42,229,675 43,623,155 41,088,880 40,805,272 Motor vehicle licenses 61,498 69,708 81,751 74,731 122,129 113,548 174,812 156,059 188,060 240,906 Transient occupancy taxes 1,723,719 2,101,946 2,183,989 2,514,809 2,431,755 2,181,603 2,593,896 3,011,357 3,181,846 3,430,073 Property transfer taxes 1,859,615 1,924,198 1,874,513 1,790,878 - - - - Franchise taxes 6,425,511 6,418,863 6,630,484 4,921,153 4,942,288 5,134,724 5,632,845 6,097,419 7,545,614 7,638,001 Utility users taxes 16,419,345 16,022,386 16,455,057 15,897,932 15,562,762 16,542,842 18,407,292 21,582,321 20,950,629 23,274,803 Business licenses 3,408,813 3,830,673 3,762,860 4,207,458 - - - Other taxes 139,498 - 2,546 2,049 - - - - - - Investment earnings/(expenses) 2,665,388 2,198,733 1,880,240 3,077,304 4,820,983 3,256,265 1,043,118 4,247,240 11,252,730 12,237,417 Miscellaneous 3,759,791 309,624 1,735,726 1,406,014 1,686,413 2,248,768 3,012,452 7,950,592 9,299,089 8,349,503 Gain on sale of property - - - 2,576,121 - (195,080) 4,771,846 Extraordinary gain/(loss) on
disollution of Redevelopment Agency - - - - - - - - - Transfers (482,001) 2,710,344 3,062,886 3,047,606 3,613,692 3,092,248 (349,459) 1,666,592 2,558,108 4,101,773 Total governmental activities 84,869,536 87,371,216 92,148,202 100,967,364 102,222,987 111,041,928 117,583,577 136,628,703 146,103,436 158,177,123 Business-type activities:

Investment earnings/(expenses) 313,933 134,138 454,394 1,672,232 1,625,955 (20,541) (1,083,110) 1,012,864 3,828,943 5,804,933 Miscellaneous 817,020 1,709,825 692,721 1,531,513 308,401 191,297 66,107 363,487 400,770 101,313 Income (loss) on
sale of capital assets - - 14,650 18,605 1,147,949 (246,175) 18,148 Transfers 482,001 (2,710,344) (3,062,886) (3,047,606) (3,613,692) (3,092,248) 349,459 (1,666,592) (2,558,108) (4,101,773) Total business-type activities 1,612,954 (866,381) (1,915,771) 156,139 (1,679,336) (2,906,842) (648,939) 857,708 1,425,430 1,822,621 Total primary government 86,482,490$ 86,504,835$ 90,232,431$ 101,123,503$ 100,543,651$ 108,135,086$ 116,934,638$ 137,486,411$ 147,528,866$ 159,999,744$ Changes in Net Position
Governmental activities (2,320,806)$ (1,938,595)$ (8,191,215)$ 2,452,418$ (1,183,360)$ (9,382,732)$ 24,727,925$ 47,324,282$ 19,761,221$ 38,759,007$ Business-type activities 6,191,937 1,500,662 1,200,273 3,919,451 5,703,884 3,886,696 12,906,740 19,899,201 24,037,140 12,065,087 Total primary government 3,871,131$ (437,933)$ (6,990,942)$ 6,371,869$ 4,520,524$ (5,496,036)$ 37,634,665$ 67,223,483$ 43,798,361$ 50,824,094$ 213
City of Pomona Schedule 3
Fund Balances - Governmental Funds
Last Ten Years
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
General Fund:

Non-spendable 106,876 65,843 11,795 11,795 11,795 11,795 118,624 78,563 11,795 95,806 Restricted - 8,791 17,170 6,200 6,200 - - 3,766,236 Committed 15,664,972 16,151,859 16,635,397 18,158,901 19,621,727 18,472,905 21,142,339 21,142,339 37,456,483 43,023,196 Assigned - -
Unassigned 1,067,804 938,380 1,309,638 3,825,896 2,102,732 17,854,788 28,436,869 41,739,049 23,115,800 16,282,481 Total General Fund 16,839,652$ 17,164,873$ 17,974,000$ 22,002,792$ 21,742,454$ 36,339,488$ 49,697,832$ 62,959,951$ 60,584,078$ 63,167,719$ All Other Governmental Funds:

Non-spendable 9,081 900,707 864,959 829,211 792,822 748,633 738,235 677,136 668,095 605,640 Restricted 116,479,028 144,882,213 148,814,041 145,131,994 144,365,622 146,478,855 154,307,326 159,902,526 168,737,495 171,323,712 Committed - - - - - - - (65,814,778) - - Assigned - - - - - - - - Unassigned (39,170,313) (76,496,881) (75,548,438) (73,096,233) (71,511,748) (69,862,012) (68,364,005) - (63,579,352) (61,299,456) Total All Other
Governmental Funds 77,317,796$ 69,286,039$ 74,130,562$ 72,864,972$ 73,646,696$ 77,365,476$ 86,681,556$ 94,764,884$ 105,826,238$ 110,629,896$ Fiscal Year
214
City of Pomona Schedule 4
Last Ten Fiscal Years
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Revenues:

Taxes 77,688,810$ 78,376,705$ 81,805,282$ 87,085,055$ 97,789,234$ 108,435,988$ 121,189,798 135,304,082 137,590,931 141,775,279 Special assessments 1,176,050 1,200,732 1,191,903 1,216,193 1,218,873 1,252,382 1,254,821 1,254,901 1,250,798 1,251,248 Licenses and permits 9,416,790 11,515,855 10,739,196 10,723,301 8,143,508 5,823,609 10,366,843 11,877,312 11,033,769 10,650,624 Intergovernmental 27,724,855 27,086,788 34,680,502 42,419,256 44,100,666 52,180,078 59,693,269 68,889,588 76,082,219 100,653,522 Charges for services 4,633,898 3,709,494 5,013,473 4,543,629 4,242,129 2,819,216 4,186,983 5,717,459 8,625,337 6,531,000 Interest and rentals 2,605,626 3,114,537 3,012,296 4,064,868 4,012,539 3,302,464 1,097,634 3,908,806 10,295,777 10,540,950 Fines and forfeitures 2,055,615 2,206,305 2,295,944 2,404,584 2,292,894 1,531,634 2,283,651 2,854,239 2,443,122 2,975,777 Loans repaid - - - - - - - - - - Contributions and donations 602,278 7,691,802 4,821,406 4,812,827 10,051,756 3,838,477 295,941 - - - Miscellaneous 3,266,373 2,685,309 3,782,618 2,869,736 1,581,504 1,706,153 3,968,665 2,986,569 7,310,226 2,095,162 Total Revenues 129,170,295 137,587,527 147,342,620 160,139,449 173,433,103 180,890,001 204,337,605 232,792,956 254,632,179 276,473,562 Expenditures:

General government 5,002,584 5,918,673 5,751,221 7,745,388 7,072,216 61,904,991 6,444,764 10,333,324 18,335,630 17,643,989 Public safety 71,798,453 74,843,810 77,756,206 81,083,093 88,647,348 224,302,230 93,925,458 104,894,764 115,345,923 118,658,356 Urban development 35,196,589 34,097,446 36,209,571 41,240,049 48,212,005 48,790,918 55,494,830 63,286,409 69,336,769 77,516,915 Neighborhood services 4,637,086 6,013,429 6,784,633 7,170,588 4,114,109 3,864,972 5,220,902 6,555,486 8,632,539 9,832,286 Capital outlay 6,851,535 20,296,897 16,821,629 19,582,343 21,428,776 13,315,340 15,627,836 22,970,378 31,824,177 51,027,028 Debt service:

Principal retirement 3,894,921 80,240,987 2,524,919 4,160,260 4,152,687 4,174,820 4,046,120 10,674,673 10,248,502 10,218,445 Interest and fiscal charges 4,627,698 5,714,773 2,788,617 3,488,941 3,447,673 6,813,470 10,913,783 9,686,278 9,553,368 9,258,401 Debt issuance costs - - - - - 1,141,091 - - - Total Expenditures 132,008,866 227,126,015 148,636,796 164,470,662 177,074,814 364,307,832 191,673,693 228,401,312 263,276,908 294,155,420 Excess (Deficiency) of Revenues
Over (Under) Expenditures (2,838,571) (89,538,488) (1,294,176) (4,331,213) (3,641,711) (183,417,831) 12,663,912 4,391,644 (8,644,729) (17,681,858) Other Financing Sources (Uses):

Notes and loans issued - 77,120,000 763,528 - - 195,304,996 - - - - Bond premium - 2,239,031 - - - - - - - - Payments to escrow agent - - - - - - - - - - Proceeds from capital leases 400,408 - 2,349,563 3,152,697 - - - - - - Proceeds from sale of capital assets - 1,640 148,124 - - 7,563 3,294,565 1,070,808 30,069 39,946 Proceeds from loans - - - - - - - - - 568,500 Proceeds from SBITA - - - - - - - - - 2,223,119 Gain/Loss - sale of land held for resale - - - - - - - - - Transfers in 9,899,873 21,108,888 12,822,718 20,711,781 20,641,477 18,417,488 27,508,014 37,646,352 41,972,832 58,368,420 Transfers out (9,781,874) (18,398,544) (9,578,065) (16,770,063) (17,027,785) (11,999,760) (20,792,067) (21,763,357) (24,672,691) (39,819,078) 518,407 82,071,015 6,505,868 7,094,415 3,613,692 201,730,287 10,010,512 16,953,803 17,330,210 21,380,907 Extraordinary gain/(loss) on dissolution
of Redevelopment Agency - -
Net Change in Fund Balances (2,320,164)$ (7,467,473)$ 5,211,692$ 2,763,202$ (28,019)$ 18,312,456$ 22,674,424$ 21,345,447$ 8,685,481$ 3,699,049$ Debt service as a percentage of
noncapital expenditures 6.81% 41.56% 4.03% 5.28% 4.92% 3.46% 8.50% 9.93% 8.56% 6.62% Fiscal Year
Total Other Financing Sources (Uses)
Changes in Fund Balances - Governmental Funds
215
Schedule 5
Last Fiscal Ten Years (in thousands of dollars)
Fiscal Year Motor Property Utility
Ended Property Sales Vehicle Transient Transfer Users Business June 30 Tax Tax License Occupancy Tax Franchise Tax Licenses Other Total 2016 33,717 15,171 61 1,724 1,860 6,426 16,419 3,409 139 78,926 2017 34,581 18,135 70 2,102 1,924 6,419 15,805 3,830 - 82,866 2018 35,565 18,913 82 2,184 1,875 6,630 16,455 3,763 3 85,470 2019 39,212 22,239 74 2,514 1,790 4,921 15,897 4,207 2 90,856 2020 38,635 30,408 122 2,431 1,430 4,942 15,562 4,379 2 97,911 2021 44,131 34,341 114 2,182 2,060 5,135 16,543 4,173 5 108,684 2022 44,839 42,230 174 2,594 174 5,632 18,407 4,591 119 118,760 2023 48,294 43,623 156 3,011 7,736 6,097 21,582 4,957 214 135,670 2024 50,234 41,089 188 3,182 9,135 7,546 20,951 5,454 164 137,943 2025 53,328 40,805 241 3,430 7,963 7,638 23,275 5,334 386 142,400 Source: ACFR - Statement of Activities
Governmental Activities Tax Revenue by Source
City of Pomona
216
City of Pomona Schedule 6
Assessed Value and Estimated Actual Value of Taxable Property Last Ten Fiscal Years (in thousands of dollars)
Estimated Factor of
Fiscal Year Less: Total Taxable Total Actual Taxable
Ended Residential Commercial Industrial Unitary Unsecured Tax Exempt Assessed Direct Tax Taxable Assessed June 30 Property Property Property Other Values Property Property (1) Value Rate (2) Value (3) Value (3) 2016 6,713,231 1,111,554 1,325,414 305,936 - 383,971 818,224 9,840,106 0.21887 10,658,330 1.339440 2017 7,072,432 1,194,489 1,517,293 367,221 - 368,869 811,349 10,520,304 0.21950 11,411,995 1.336080 2018 7,453,284 1,246,745 1,556,649 353,138 - 409,305 948,940 11,019,121 0.21653 11,968,061 1.384510 2019 7,892,684 1,285,252 1,690,716 373,330 - 414,091 960,220 11,656,073 0.22089 12,616,293 1.387900 2020 8,426,331 1,351,346 1,751,496 379,670 - 440,437 990,772 12,349,280 0.22824 13,340,052 1.445350 2021 8,880,275 1,442,903 1,862,189 398,369 - 463,116 1,041,931 13,046,852 0.22818 14,088,783 1.374350 2022 9,212,402 1,461,128 1,960,984 414,006 - 503,221 1,026,249 13,551,741 0.22614 14,577,990 1.390120 2023 10,017,819 1,529,000 2,121,892 422,044 - 535,411 1,009,359 14,626,166 0.23251 15,635,525 1.384320 2024 10,320,574 1,638,594 2,458,418 461,435 - 605,854 1,104,697 15,484,875 0.22713 16,589,572 1.374640 2025 10,868,886 1,711,311 2,558,388 502,983 - 602,710 1,247,710 16,244,278 0.22745 17,491,988 1.370620 Source: Los Angeles County Assessor data, MuniServices, LLC (for years 2007 to 2015), HdL for the 2016 to current.

Prior Year values have been restated for consistency and compliance with GASB No. 44 guidelines (1) Exemptions are exclusive of home owner exemptions.
(2) Total direct tax rate is the voter approved taxes over and above the 1% Proposition 13 tax for TRA 007-790. (3) Estimated Actual Value is derived from a series of calculations comparing median assessed values from 1940 to current median sale prices. Based on these calculations a multiplier value was extrapolated and applied to current assessed values. 217
City of Pomona Schedule 7
Property Tax Rates - Direct and Overlapping Governments (Rate per $100 of assessed value)
Last Ten Fiscal Years
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Basic City and County Levy:

City of Pomona 0.233504 0.233504 0.233504 0.233504 0.233504 0.233504 0.233504 0.233504 0.233504 0.233504 Other taxing agencies 0.766496 0.766496 0.766496 0.766496 0.766496 0.766496 0.766496 0.766496 0.766496 0.766496 Total 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 Override Assessments:

County 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 Unified Schools 0.297990 0.284510 0.335000 0.337670 0.372320 0.304690 0.292220 0.292990 0.289070 0.277230 Community College 0.037950 0.048060 0.046000 0.046730 0.069530 0.066160 0.094400 0.087820 0.082070 0.086380 Flood Control 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 Metro Water District 0.003500 0.003500 0.003500 0.003500 0.003500 0.003500 0.003500 0.003500 0.003500 0.007000 Total 0.339440 0.336070 0.384500 0.387900 0.445350 0.374350 0.390120 0.384310 0.374640 0.370610 Total Tax Rate 1.339440 1.336070 1.384500 1.387900 1.445350 1.374350 1.390120 1.384310 1.374640 1.370610 Source: Los Angeles County Auditor/Controller data, MuniServices, LLC (for years 2007 to 2015), HdL for the 2016 to current. 2007-08 and prior: prior year ACFR reports
218
City of Pomona Schedule 8
Percent of Percent of
Total City Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Valuation Rank Value Valuation Rank Value
Duke Reality Pomona LP 122,984,685 1 0.76%
Rexford Industrial 1601 Mission LLC 109,437,382 2 0.67% 39,412,025 3 0.40% Crest Financial LP 100,221,787 3 0.62% 83,535,719$ 1 0.85% PI Properties 84,479,554 4 0.52% 25,739,538 9 0.26% Los Angeles County Fair Associates 76,260,920 5 0.47% 46,592,577 2 0.47% Deleware Hawk Eye LLC 66,810,000 6 0.41%
AG 5R Pomona Owner LLC 58,211,400 7 0.36%
Phillips Ranch Business Center LLC 57,587,272$ 8 0.35% Chalmers South Mission Road LLC 50,657,558 9 0.31% Olive Ridge Gardens LP 50,019,625 10 0.31% 24,624,203 10 0.25% KTR Pomona LLC 37,004,717 4 0.38%
Monterey Station LLC 35,515,060 5 0.36%
LBA Realty Fund III - Company VII LLC 30,666,314 6 0.31% CMC Dragon LP 29,112,221 7 0.30%
Pomona II LLC 28,858,509 8 0.29%
Top Ten Total 776,670,183$ 4.78% 381,060,883$ 3.87% City Total 16,244,278,914 9,840,105,629
Source: Los Angeles County Assessor data, HdL, Coren & Cone Source: HDL Top Ten Property tax payments; Combined
20162025
Current Fiscal Year and Nine Years Ago
Principal Property Taxpayers
219
City of Pomona Schedule 9
Top 25 Sales Tax Generators
in Alphabetical Order
Current Fiscal Year and Ten Years Ago
2025 2016
76 All Star Kia
Arco AM PM Bastian Material Handling
Arco AM PM Cardenas Market
Catalyst Pomona Cornucopia Foods
Chevron Extra Mile Dawson Company
DD's Discounts DD's Discounts
Ferguson Enterprises Fairplex Chevron
Food 4 Less Ferguson's Enterprises
Global Rental Co Food 4 Less
Home Depot Garys Chevron
Huntington Hardware Giant RV
Jb Wholesale Roofing & Building Supplies Global Rental Co Marco Equipment Graybar Electric
Ormco Corporation HD Supply Home Improvement Solutions
Ovations Fanfare Home Depot
Phenix Enterprises Huntington Hardware
Pomona Kia Marco Equipment
Rohr Steel Mike Thompson's RVs
Shell Rohr Steel
STIIIZY Pomona Sheraton Suites Fairplex
Superior Duct Fabrication Superior Duct Fabrication
Target Target
Towne Arco Towne Arco
Walmart Supercenter USA Gas
White Cap Walmart Supercenter
Source: HDL Reports
220
City of Pomona Schedule 10
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal Delinquent
Year Taxes Levied Tax
Ended for the Percentage Collections Percentage
June 30 Fiscal Year Amount of Levy by levy year Amount of Levy 2016 13,843,856 13,691,612 98.90% 230,228 13,921,840 100.6% 2017 14,758,820 14,939,800 101.23% 106,993 15,046,793 102.0% 2018 15,617,055 15,448,699 98.92% 285,086 15,733,785 100.7% 2019 15,870,148 16,259,418 102.45% 525,464 16,784,882 105.8% 2020 17,088,316 17,287,322 101.16% 382,279 17,669,601 103.4% 2021 19,095,038 18,730,179 98.09% 747,742 19,477,921 102.0% 2022 19,078,334 18,752,358 98.29% 822,395 19,574,753 102.6% 2023 20,807,447 21,131,685 101.56% 657,157 21,788,842 104.7% 2024 21,751,676 21,753,910 100.01% 420,936 22,174,846 101.9% 2025 22,837,872 22,588,701 98.91% 520,886 23,109,587 101.2% Source: Los Angeles County Auditor/Controller, City of Pomona Finance Department Collected within the
Fiscal Year of the Levy Total Collections to Date
221
City of Pomona Schedule 11
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Fiscal Year Tax Pension Certificates Total Pension Total Total Percentage Debt Ended Allocation Revenue Obligation of Governmental Revenue Obligation Business-type Primary of Personal per June 30 Bonds Bonds Ref Bonds Participation Other Activities Bonds Ref Bonds Other Activities Government Income (1) Capita (1) 2012 - 43,836,347 44,299,214 12,333,057 2,379,277 102,847,895 136,030,252 174,904 136,205,156 239,053,051 n/a 1,468 2016 - 37,938,000 44,152,153 10,970,569 1,137,985 94,198,707 130,187,858 - 2,430,984 132,618,842 226,817,549 n/a 1,458 2017 - 84,782,557 7,594,276 - 564,977 92,941,810 118,139,497 - 1,844,160 119,983,657 212,925,467 n/a 1,371 2018 - 82,605,188 4,013,547 - 3,217,149 89,835,884 114,827,755 - 1,243,603 116,071,358 205,907,242 n/a 1,323 2019 - 79,159,819 3,761,134 - 2,641,009 85,561,962 112,351,013 - 628,993 112,980,006 198,541,968 n/a 1,287 2020 - 75,670,451 3,492,601 - 2,132,854 81,295,906 109,839,270 - - 109,839,270 191,135,176 n/a 1,235 2021 - 72,128,082 204,139,568 - 8,924,977 285,192,627 107,277,527 21,108,787 - 128,386,314 413,578,941 n/a 2,733 2022 - 68,527,713 203,766,665 - 12,032,784 284,327,162 104,655,785 21,101,098 - 125,756,883 410,084,045 n/a 2,738 2023 - 66,194,344 196,505,708 - 7,795,037 270,495,089 101,974,043 20,371,846 - 122,345,889 392,840,978 n/a 2,624 2024 - 63,875,974 188,799,086 - 6,068,235 258,743,295 99,222,301 19,765,459 - 118,987,760 377,731,055 n/a 2,482 2025 - 61,567,604 180,782,753 - 7,223,966 249,574,323 96,395,558 19,134,758 - 115,530,316 365,104,639 n/a 2,386 SOURCE: ACFR _ Long-Term Liabilities Notes from Financials Section (1) These ratios are calculated using personal income and population for the prior year.

Notes: Details regarding the City's outstanding debt can be found in the notes to the financial statements.

Business-type ActivitiesGovernmental Activities
176
222
City of Pomona Schedule 12
Ratios of General Bonded Debt Outstanding
Percentage
Fiscal Year Tax Pension Certificates Restricted of Actual Ended Revenue Allocation Obligation of for Net Bonded Value Per June 30 Bonds Bonds Ref Bonds Participation Total Debt Service * Debt of Property (1) Capita (2) 2016 37,938 - 44,152 10,971 93,061 55,810 37,251 0.9% 598 2017 84,783 - 7,594 - 92,377 65,473 26,904 0.9% 545 2018 82,605 - 4,013 - 86,618 67,771 18,847 0.8% 514 2019 79,159 - 3,761 - 82,920 65,249 17,671 0.7% 519 2020 75,670 - 3,492 - 79,162 63,465 15,697 0.6% 511 2021 72,128 - 204,139 - 276,267 36,596 239,671 2.1% 1,826 2022 68,528 - 203,766 - 272,294 68,220 204,074 2.0% 1,818 2023 66,194 - 196,505 - 262,699 66,002 196,697 1.8% 1,755 2024 63,876 - 188,799 - 252,675 63,800 188,875 1.6% 1,661 2025 61,567 - 180,782 - 242,349 61,608 180,741 1.5% 1,584 General Bonded Debt Outstanding
Last Ten Fiscal Years (dollars in thousands, except per capita) 223
City of Pomona Schedule 13
Direct and Overlapping Debt
Current Year and Nine Years Ago
Total Debt City’s Share of
OVERLAPPING DEBT 06/30/2025: 6/30/2025 % Applicable (1) Debt 06/30/2025 Metropolitan Water District 17,155,000 0.399% 68,448 Citrus Community College District 201,035,302 1.154% 2,319,947 Mount San Antonio Community College District 1,062,368,464 12.947% 137,544,845 Bonita Unified School District 102,024,790 0.180% 183,645 Claremont Unified School District 59,080,000 5.802% 3,427,822 Pomona Unified School District 432,919,701 78.482% 339,764,040 Total Overlapping Debt 1,874,583,257 483,308,747 Obligations Under Capital Leases 523,047 100.000% 523,047 Notes Payable 698,796 100.000% 698,796 Revenue Bonds 61,567,604 100.000% 61,567,604 Pension Obligation Refunding Bonds 180,782,753 100.000% 180,782,753 Accreted Interest 4,464,039 100.000% 4,464,039 Other 1,538,084 100.000% 1,538,084 Total Direct Debt 249,574,323 249,574,323 TOTAL DIRECT AND OVERLAPPING DEBT 2,124,157,580$ 732,883,070$ Total Debt City’s Share of
OVERLAPPING DEBT 06/30/2016: 6/30/2016 % Applicable (1) Debt 06/30/2016 Los Angeles County Flood Control District -$ 0.000% -$ Metropolitan Water District 44,916,916 0.619% 277,825 Citrus Community College District 96,907,553 1.229% 1,191,254 Mount San Antonio Community College District 367,992,615 12.047% 44,331,779 Bonita Unified School District 128,484,790 0.254% 326,984 Claremont Unified School District 29,070,000 6.077% 1,766,684 Pomona Unified School District 240,584,892 75.786% 182,329,896 Los Angeles County Regional Park and Open Space Assessment District - 0.000% - Total Overlapping Debt 907,956,766 230,224,422 City of Pomona 1915 Act Bonds 3,915,000 100.000% 3,915,000 Obligations Under Capital Leases 702,958 100.000% 702,958 Notes Payable 435,000 100.000% 435,000 Revenue Bonds 37,938,000 100.000% 37,938,000 Pension Obligation Refunding Bonds 44,152,153 100.000% 44,152,153 Certificates of Participation 10,970,569 100.000% 10,970,569 Total Direct Debt 98,113,680 98,113,680 TOTAL DIRECT AND OVERLAPPING DEBT 1,006,070,446$ 328,338,102$ Source: HdL, and prior year ACFR
1) Percentage of overlapping agency's assessed valuation located within the boundaries of the city.

This schedule reflects debt which is being repaid through voter-approved property tax indebtedness. It excludes mortgage revenue bonds, interim financing obligations, non-bonded capital lease obligations, and certificate of participation, unless provided by the city.
224
City of Pomona Schedule 14
Legal Debt Margin Information
Last Ten Fiscal Years (in thousands of dollars)
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Assessed valuation 9,840,106$ 10,520,304$ 11,019,121$ 11,656,073$ 12,349,280$ 13,046,852$ 13,551,741$ 14,875,637$ 15,484,875$ 16,244,279$ Debt limit percentage 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% Debt limit 1,476,016$ 1,578,046$ 1,652,868$ 1,748,411$ 1,852,392$ 1,957,028$ 2,032,761$ 2,231,346$ 2,322,731$ 2,436,642$ Amount of debt applicable to debt limit - - - - - - Legal debt margin 1,476,016$ 1,578,046$ 1,652,868$ 1,748,411$ 1,852,392$ 1,957,028$ 2,032,761$ 2,231,346$ 2,322,731$ 2,436,642$ Total debt applicable to the limit as
a percentage of debt limit 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Source: Overlapping Debt OBD report as of 6.30.25
Notes: Under State Finance Law, the City's outstanding general obligation debt should not exceed 15 percent of the total assessed property value. By law, the general obligation debt subject to the limitation may be offset by amounts set aside for repaying general obligation bonds. 225
City of Pomona Schedule 15
Pledged Revenue Coverage - Water
Last Ten Fiscal Years
Fiscal Year Less Net Rate
Ended Water Operating Available Stabilization Net Revenue June 30 Revenue (1) Expenses (2) Revenue Fund (3) Principal Interest Total Coverage 2016* 28,964,078 18,073,465 10,890,613 - 1,350,000 4,991,195 6,341,195 1.72 2017* 31,404,614 21,474,204 9,930,410 - 1,415,000 4,922,961 6,337,961 1.57 2018* 34,749,625 24,423,625 10,326,000 5,130,000 1,925,000 3,197,357 5,122,357 2.02 2019* 33,379,437 21,195,818 12,183,619 5,226,026 1,815,000 3,316,618 5,131,618 2.37 2020* 33,775,857 21,486,313 12,289,544 5,290,421 1,840,000 3,285,745 5,125,745 2.40 2021 37,725,544 11,401,857 26,323,687 5,291,593 1,875,000 3,248,743 5,123,743 5.14 2022 42,192,195 27,850,168 14,342,027 5,294,798 1,925,000 3,204,174 5,129,174 2.80 2023 42,342,890 28,989,677 13,353,213 5,460,415 1,970,000 3,155,529 5,125,529 2.61 2024 48,263,027 30,894,811 17,368,216 5,737,570 2,025,000 3,092,496 5,117,496 3.39 2025 49,404,737 36,023,561 13,381,176 5,996,362 2,080,000 3,033,804 5,113,804 2.62 Notes: Details regarding the City's Water Fund outstanding debt can be found in the notes to the financial statements. (1) Water Revenue consists of Charges for services, Interest Revenue, Intergovernmental, and Sale of Surplus Water (2) Operating expenses does not include depreciation or amortization. (3)
Debt Service
*Information has been restated for consistency and compliance with GASB No. 44 and Continued Disclosure Reporting of debt coverage
Water Revenue Bonds
During FY2018, the City estabilished a Rate Stabilization Fund (RSF) equal to annual debt service payments.

Transfers from the RSF may be made to meet annual debt service expenses or to comply with debt service coverage. 226
City of Pomona Schedule 16
Pledged Revenue Coverage - Sewer
Last Ten Fiscal Years
Fiscal Year Less Net Rate
Ended Sewer Operating Available Stabilization Net Revenue June 30 Revenue (1) Expenses (2) Revenue Fund (3) Principal Interest Total Coverage 2016* 4,580,735 2,014,093 2,566,642 - 400,000 420,703 820,703 3.13 2017* 4,330,205 2,146,411 2,183,794 - 175,000 863,174 1,038,174 2.10 2018* 4,435,747 2,331,657 2,104,090 1,453,169 305,000 591,009 896,009 2.35 2019* 5,048,618 2,779,101 2,269,517 1,480,198 555,000 842,546 1,397,546 1.62 2020* 5,926,012 1,094,541 4,831,471 1,498,437 565,000 884,376 1,449,376 3.33 2021 6,645,052 262,044 6,383,008 1,498,768 580,000 872,254 1,452,254 4.40 2022 7,221,361 1,895,703 5,325,658 1,499,673 590,000 858,751 1,448,751 3.68 2023 7,398,983 2,664,277 4,734,706 1,546,583 605,000 844,101 1,449,101 3.27 2024 7,392,478 2,027,518 5,364,960 1,625,083 680,200 881,365 1,561,565 3.44 2025 7,132,641 4,787,403 2,345,238 1,698,382 702,638 861,172 1,563,810 1.50 Notes: Details regarding the City's Sewer Fund outstanding debt can be found in the notes to the financial statements. (1)
(2)
(3)
Debt Service
Operating Revenues represent charges to customers for sales and services. Charges for services excludes sewer connection fees (also referred to as development impact fees), which are included in Miscellaneous Operating Expenses include cost of sales and services and administrative expenses and excludes depreciation on capital assets.

During FY2018, the City estabilished a Rate Stabilization Fund (RSF) equal to annual debt service payments.

Transfers from the RSF may be made to meet annual debt service expenses or to comply with debt service coverage.

Sewer Revenue Bonds
*Information has been restated for consistency and compliance with GASB No. 44 and Continued Disclosure Reporting of debt coverage
227
City of Pomona Schedule 17
Demographic and Economic Statistics
Last Ten Fiscal Years
Per
Personal Capita
Fiscal Income (2) Personal Median Public School Unemployment Year Population (1) (in thousands) Income (2) Age Enrollment (3) Rate (4) 2016 155,604 2,575,663 16,552 30.4 24,673 7.5% 2017 155,306 2,664,317 17,155 30.9 24,314 5.9% 2018 155,687 2,722,806 17,488 31.0 23,635 5.9% 2019 154,310 2,885,143 18,697 31.5 23,806 5.1% 2020 154,817 3,290,944 21,257 32.2 22,766 14.7% 2021 151,319 3,235,579 21,382 32.2 21,810 13.4% 2022 149,766 3,330,808 22,240 33.3 22,607 10.0% 2023 149,721 3,639,072 24,305 33.9 22,058 5.6% 2024 152,166 3,905,219 25,664 34.4 21,633 5.4% 2025 153,042 4,174,378 27,276 35.4 21,122 5.9% Source: 2015-16 to current - HdL
(1) Population Projections are provided by California Department of Finance Projections. (2) Income Data is provided by the United States Census Data and is adjusted for inflation. (3) Public School Enrollment reflects the total number of students enrolled in Pomona Unified School District only, per school district data.
(4) Unemployment rates are provided by the Employment Development Department, Bureau of Labor and Statistics Department.
228
City of Pomona Schedule 18
Principal Employers
Current Year and Nine Years Ago
Percentage Percentage
Number of of Total City Number of of Total City
Employer Employees Rank Employment Employees Rank Employment Pomona Valley Hospital 4,038 1 5.8% 3,270 1 5.0%
Pomona Unified School District 3,286 2 4.7% 2,926 2 4.5% California State Polytechnic University 1,515 3 2.2% 2,612 3 4.0% Casa Colina Rehabilitation Center 1,150 4 1.7% 938 5 1.4% City of Pomona 647 5 0.9% 685 6 1.1%
Lereta, LLC 605 6 0.9%
Henkels & McCoy West LLC 413 7 0.6%
Torn & Glasser Inc 352 8 0.5% 242 12 0.4%
Superior Duct Fabrication, Inc. 350 9 0.5%
Lloyd's Manufacturing Service 274 10 0.4%
Anheuser Busch Sales Pomona 258 11 0.4% 204 15 0.3%
Ormco Corporation 208 12 0.3%
Reyes Construction Inc 207 13 0.3%
Siemens Industry, Inc. 183 14 0.3%
Ferguson Enterprises, LLC 169 15 0.2%
Fairplex 954 4 1.5%
Verizon 596 7 0.9%
County of Los Angeles Dept. of Social Services 400 8 0.6% First Transit 348 9 0.5%
Inland Valley Care & Rehab 341 10 0.5%
Kittrich Corporation 256 11 0.4%
Hayward Industries Inc. 230 13 0.4%
Walmart Stores Inc 207 14 0.3%
20162025
229
Schedule 19
Function 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 General Government 20 20 20 20 20 18 18 20 25 24
Support Services 32 33 41 46 46 49 49 51 53 56
Police 270 271 271 280 280 282 284 284 287 285
Public Works 106 106 93 96 96 96 103 109 90 92
Water/Wastewater 68 68 74 75 75 75 80 84 87 90
Community Services 0 0 0 0 0 0 0 0 19 21
Dev & Neighborhood Svcs 47 48 48 53 53 54 61 79 74 73
Utility Services 0 0 0 0 0 0 0 0 0 0
Library 2 2 2 1.6 1.6 1.6 3 3 6 6
Total 545 548 549 571.6 571.6 575.6 598 630 641 647
Source: City of Pomona Finance Department
City of Pomona
Authorized Full-Time City Employees by Function
Last Ten Fiscal Years
Function
230
City of Pomona Schedule 20
Operating Indicators by Function
Last Ten Fiscal Years
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Police:

Felony Arrests 2,441 2,142 2,049 2,270 1,903 1,123 1,041 1,204 916 1,091 Misdemeanor Arrests 7,446 6,825 6,067 6,228 4,463 2,907 3,098 2,019 1,936 2,272 Parking Citations 31,807 32,107 27,959 26,214 21,237 14,510 22,781 28,025 20,221 24,808 Moving Citations 8,898 7,157 6,714 6,884 6,282 38,505 5,462 5,297 5,149 6,350 Fire:

Incidents 16,381 16,901 16,367 16,340 16,544 17,025 17,538 18,254 18,612 18,660 Urban development:

Building permits issued 294 969 3,476 660 788 1,765 4,263 3,298 3,268 2,981 Building Inspections 6,236 7,947 11,764 11,723 10,642 7,028 15,759 11,631 12,774 9,793 Asphalt repaired (square feet) 84,649 95,104 78,765 84,516 79,420 79,005 106,721 60,776 63,806 112,648 Sidewalk repaired (square feet) 2,279 2,997 7,001 99,111 12,568 18,743 13,330 901 962 9,700 Community Services:

Community Center participants - - - - - - - - - - Senior Program participants 44,228 59,967 59,065 48,229 51,836 98,517 96,189 47,753 37,195 36,609 Youth program participants 52,075 33,579 40,917 37,696 24,769 2,451 6,722 14,162 21,587 50,756 Other program participants 26,126 18,901 16,919 30,768 21,858 3,408 16,189 34,386 41,760 33,007 Sports participants 182,529 154,670 144,680 120,002 66,685 339 38,991 9,065 8,274 8,165 Facility rentals 1,815 2,183 1,644 1,679 1,430 1 753 484 779 1,254 Library:

Program attendance (all programs) 3,077 3,069 3,058 2,623 2,010 147 2,773 4,669 4,830 6,105 Literacy instruction (hours) - - - - - - - - - - Water:

New connections 21 12 13 12 19 3 249 33 32 4 Average daily consumption 14,450 15,084 20,243 18,471 13,502 16,740 16,064 28,618 13,927 15,644 (thousands of gallons)
Refuse:

Curbside Collection (in tons) 36,682 37,934 37,257 40,793 47,251 52,206 50,875 45,869 32,235 31,743 Recycle Collection (in tons) 6,544 6,759 7,083 4,722 4,799 7,216 9,296 7,333 7,828 7,272 Greenwaste Collection (in tons) 13,480 13,699 13,143 12,618 11,824 11,844 11,338 5,364 15,039 13,560 Source: Various City Departments
*Due to staffing changes in Community Services, the methodology for counting service delivery was changed beginning 2015. 231
City of Pomona Schedule 21
Capital Asset Statistics by Function
Last Ten Fiscal Years
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Police:

Stations 1 1 1 1 1 1 1 1 1 1
Patrol Units 46 44 45 44 44 44 44 44 44 44
Fire:

Fire stations 8 8 8 8 8 8 8 8 8 8
Public works:

Streets (miles) 388 388 388 388 388 388 388 388 388 388 Streetlights 7,725 7,725 7,725 7,725 7,725 7,725 7,725 7,725 7,725 7,747 Traffic signals 169 169 169 169 169 169 169 169 183 183 Community Services:

Parks 26 26 27 27 27 28 28 28 28 30
Park Acreage 221 221 221 221 221 222 222 222 222 237
Baseball fields 14 14 14 14 14 14 14 14 14 14
Soccer fields 17 17 17 17 17 11 11 11 11 11
Basketball courts 22 22 22 22 22 22 24 24 25 25
Tennis courts 9 9 9 9 9 9 9 9 9 9
Community centers 14 14 14 14 14 14 13 13 13 13
Libraries 1 1 1 1 1 1 1 1 1 1
Water:

Water mains (miles) 457 457 457 457 488 428 428 430 430 430 Sewer:

Sanitary sewers (miles) 305 305 305 305 305 300 300 300 282 282 Storm drains (miles) 120 120 120 120 120 70 33 37 38 38 Source: Various City Departments
232
233
234

City Council / Housing AuthorityJune 15, 2026

City Council / Housing Authority
June 15, 2026