Cities Index.
Agenda Packet

Redding City Council
January 18, 2022

Document
Agenda Packet
Meeting
January 18, 2022
Body
Redding City Council
Pages
41
Original file
144.6 MB
Text extracted from the city's file for reading and search. Open the original on reddingcityca.iqm2.com. That file is the official record.

Packet Pg. 513 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
Survey Classification
City of Redding
Maximum Base Salary
Labor Market Median
Base Salary
% City of Redding Is
Above or Below Labor
Market Median
City of Redding
Total Cash
Labor Market
Median Total Cash
% City of Redding
Is Above or Below
Labor Market
Median
City of Redding
Total
Compensation
Labor Market
Median Total
Compensation
% City of Redding
Is Above or Below
Labor Market
Median
City of Redding
Total
Compensation
Minus House
Payment
Labor Market
Median Total
Compensation
Minus Housing
Payment
% City of Redding
is Above or Below
Market Median Comparability
Assistant Director of Electric Utility $17,961 $17,684 1.54% $17,961 $17,759 1.12% $19,631 $19,833 -1.03% $17,891 $18,131 -1.34%3 Chief Information Officer $12,395 $16,781 -35.39% $12,695 $18,392 -44.88% $14,340 $20,349 -41.91% $12,600 $17,413 -38.20%6 Cybersecurity Officer $9,380 $12,717 -35.58% $9,380 $13,700 -46.06% $11,009 $15,202 -38.09% $9,269 $12,726 -37.30%5 Director of Electric Utility $18,740 $21,585 -15.18% $19,040 $22,346 -17.36% $20,713 $25,968 -25.37% $18,973 $24,046 -26.73%7 Electric Manager-Compliance $13,387 Insuff Data --- $13,387 Insuff Data --- $15,036 Insuff Data --- $13,296 Insuff Data ---1 Electric Manager-Energy Management $16,296 $15,392 5.55% $16,296 $15,828 2.87% $17,958 $17,989 -0.17% $16,218 $15,225 6.12%3 Electric Manager-Engineering $15,864 $15,824 0.25% $15,864 $15,828 0.23% $17,524 $19,574 -11.70% $15,784 $17,371 -10.05%5 Electric Manager-Financial $14,689 $14,640 0.33% $14,689 $15,124 -2.96% $16,344 $18,474 -13.03% $14,604 $16,260 -11.34%5 Electric Manager-Legislative $12,395 $13,326 -7.51% $12,395 $13,992 -12.89% $14,040 $17,499 -24.64% $12,300 $15,577 -26.64%3 Electric Manager-Line $15,143 $15,526 -2.53% $15,143 $16,226 -7.15% $16,800 $19,763 -17.64% $15,060 $17,841 -18.46%5 Electric Manager-Power Plant
Production $15,143 $16,985 -12.16% $15,143 $17,449 -15.23% $16,800 $19,987 -18.97% $15,060 $16,776 -11.39%5 Electric Manager-Resources $15,143 $16,077 -6.17% $15,143 $16,152 -6.66% $16,800 $19,187 -14.21% $15,060 $16,984 -12.78%5 Electric Program Supervisor $11,258 Insuff Data --- $11,258 Insuff Data --- $12,898 Insuff Data --- $11,158 Insuff Data ---0 Electric Program Supervisor-Customer
Programs $11,258 $12,961 -15.13% $11,258 $13,904 -23.50% $12,898 $17,015 -31.93% $11,158 $14,449 -29.50%4 Electric Program Supervisor-Arborist $11,258 Insuff Data --- $11,258 Insuff Data --- $12,898 Insuff Data --- $11,158 Insuff Data ---1 Electric Program Supervisor- Customer
Services $11,258 $7,864 30.15% $11,258 $8,342 25.90% $12,898 $11,276 12.57% $11,158 $9,214 17.42%6 Electric Program Supervisor-Energy
Management $15,463 Insuff Data --- $15,463 Insuff Data --- $17,122 Insuff Data --- $15,382 Insuff Data ---2 Electric Program Supervisor-Finance $11,258 Insuff Data --- $11,258 Insuff Data --- $12,898 Insuff Data --- $11,158 Insuff Data ---0 Electric Program Supervisor-Line $12,519 $12,683 -1.31% $12,519 $13,426 -7.24% $14,164 $16,814 -18.71% $12,424 $14,892 -19.86%5 Electric Program Supervisor-Meter
Shop $11,700 $11,737 -0.32% $11,700 $12,109 -3.50% $13,342 $15,791 -18.36% $11,602 $13,588 -17.12%5 Electric Program SupervisorOperational Technology $11,921 Insuff Data --- $11,921 Insuff Data --- $13,564 Insuff Data --- $11,824 Insuff Data --- 2 Electric Program Supervisor-Power
Production $12,395 $11,778 4.98% $12,395 $12,367 0.23% $14,040 $15,849 -12.89% $12,300 $13,927 -13.23%3 Electric Program Supervisor-Service
Planning $11,258 $10,193 9.46% $11,258 $10,231 9.13% $12,898 $13,392 -3.84% $11,158 $11,324 -1.49%4 Electric Program Supervisor-Substation
Maintenance $11,700 $12,374 -5.76% $11,700 $12,993 -11.05% $13,342 $16,210 -21.50% $11,602 $14,508 -25.05%5 Electric Program Supervisor-System
Operator-T&D $15,152 $12,563 17.09% $15,152 $13,005 14.17% $16,809 $16,187 3.70% $15,069 $14,119 6.30%4 Electric Utility Associate Resource
Planner $8,757 $9,789 -11.78% $8,757 $10,257 -17.12% $10,381 $13,237 -27.51% $8,641 $11,279 -30.53%4 Electric Utility Engineer $10,226 $10,124 1.00% $10,226 $10,574 -3.40% $11,861 $13,677 -15.32% $10,121 $11,621 -14.83%6 Electric Utility Engineering Assistant I $6,910 $8,087 -17.03% $6,910 $8,896 -28.74% $8,520 $11,529 -35.33% $6,780 $9,082 -33.96%5 Electric Utility Engineering Assistant II $7,609 $8,660 -13.81% $7,609 $8,660 -13.81% $9,224 $11,240 -21.86% $7,484 $9,132 -22.02%5 Electric Utility Manager-Customer
Service and Metering $13,387 $12,834 4.13% $13,387 $13,581 -1.45% $15,036 $16,814 -11.83% $13,296 $14,750 -10.93%5 Electric Utility Operational Technology
Engineer $10,737 $10,724 0.12% $10,737 $10,724 0.12% $12,374 $14,118 -14.09% $10,634 $11,775 -10.73%5 Electric Utility Operations/ Compliance
Engineer $11,934 Insuff Data --- $11,934 Insuff Data --- $13,577 Insuff Data --- $11,837 Insuff Data ---1 Electric Utility Senior Project Engineer $11,988 $13,093 -9.22% $11,988 $13,418 -11.93% $13,631 $16,857 -23.67% $11,891 $14,768 -24.19%4 Electric Utility Resource Planner $10,737 $11,224 -4.53% $10,737 $11,929 -11.10% $12,374 $15,094 -21.98% $10,634 $12,841 -20.75%6 Electrical Engineer $11,934 $11,958 -0.20% $11,934 $11,958 -0.20% $13,577 $15,317 -12.82% $11,837 $13,075 -10.46%3 Energy Services Account Manager $8,805 $10,819 -22.87% $8,805 $11,360 -29.02% $10,430 $14,826 -42.15% $8,690 $12,060 -38.79%5 GIS Manager $9,849 Insuff Data --- $9,849 Insuff Data --- $11,481 Insuff Data --- $9,741 Insuff Data ---1 Senior Electrical Engineer $12,761 $13,186 -3.33% $12,761 $13,650 -6.97% $14,407 $17,152 -19.05% $12,667 $15,047 -18.78%5 Average -4.84% Average -8.95% Average -18.11% Average -16.89% Base Salary Total Cash Total Compensation Total Compensation minus Housing Payment MEDIAN

Page 2 of 41 ends

Packet Pg. 514 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
Survey Classification
City of Redding
Maximum Base Salary
Labor Market Mean
Base Salary
% City of Redding Is
Above or Below Labor
Market Mean
City of Redding
Total Cash
Labor Market
Mean Total Cash
% City of Redding
Is Above or Below
Labor Market
Mean
City of Redding
Total
Compensation
Labor Market
Mean Total
Compensation
% City of Redding
Is Above or Below
Labor Market
Mean
City of Redding
Total
Compensation
Minus House
Payment
Labor Market
Mean Total
Compensation
Minus Housing
Payment
% City of Redding
is Above or Below
Market Mean Comparability
Assistant Director of Electric Utility $17,961 $18,061 -0.55% $17,961 $19,599 -9.12% $19,631 $21,536 -9.70% $17,891 $18,977 -6.07%3 Chief Information Officer $12,395 $18,958 -52.95% $12,695 $19,802 -55.98% $14,340 $22,632 -57.83% $12,600 $20,296 -61.08%6 Cybersecurity Officer $9,380 $12,364 -31.81% $9,380 $12,883 -37.35% $11,009 $15,468 -40.51% $9,269 $13,049 -40.79%5 Director of Electric Utility $18,740 $23,309 -24.38% $19,040 $24,278 -27.51% $20,713 $27,097 -30.82% $18,973 $24,954 -31.52%7 Electric Manager-Compliance $13,387 Insuff Data --- $13,387 Insuff Data --- $15,036 Insuff Data --- $13,296 Insuff Data ---1 Electric Manager-Energy Management $16,296 $15,045 7.67% $16,296 $15,216 6.63% $17,958 $18,205 -1.37% $16,218 $15,811 2.51%3 Electric Manager-Engineering $15,864 $16,387 -3.30% $15,864 $17,004 -7.19% $17,524 $19,714 -12.50% $15,784 $17,251 -9.29%5 Electric Manager-Financial $14,689 $14,734 -0.30% $14,689 $15,253 -3.84% $16,344 $17,993 -10.09% $14,604 $15,530 -6.34%5 Electric Manager-Legislative $12,395 $12,770 -3.02% $12,395 $13,458 -8.58% $14,040 $16,339 -16.38% $12,300 $13,894 -12.96%3 Electric Manager-Line $15,143 $16,294 -7.60% $15,143 $16,895 -11.57% $16,800 $19,615 -16.75% $15,060 $17,152 -13.89%5 Electric Manager-Power Plant
Production $15,143 $16,385 -8.20% $15,143 $16,981 -12.14% $16,800 $19,716 -17.36% $15,060 $17,253 -14.56%5 Electric Manager-Resources $15,143 $16,076 -6.16% $15,143 $16,670 -10.08% $16,800 $19,392 -15.43% $15,060 $16,929 -12.41%5 Electric Program Supervisor $11,258 Insuff Data --- $11,258 Insuff Data --- $12,898 Insuff Data --- $11,158 Insuff Data ---0 Electric Program Supervisor-Customer
Programs $11,258 $13,311 -18.24% $11,258 $14,136 -25.56% $12,898 $16,901 -31.04% $11,158 $14,639 -31.20%4 Electric Program Supervisor-Arborist $11,258 Insuff Data --- $11,258 Insuff Data --- $12,898 Insuff Data --- $11,158 Insuff Data ---1 Electric Program Supervisor- Customer
Services $11,258 $8,720 22.54% $11,258 $9,165 18.59% $12,898 $11,872 7.95% $11,158 $9,536 14.54%6 Electric Program Supervisor-Energy
Management $15,463 Insuff Data --- $15,463 Insuff Data --- $17,122 Insuff Data --- $15,382 Insuff Data ---2 Electric Program Supervisor-Finance $11,258 Insuff Data --- $11,258 Insuff Data --- $12,898 Insuff Data --- $11,158 Insuff Data ---0 Electric Program Supervisor-Line $12,519 $13,250 -5.84% $12,519 $13,988 -11.74% $14,164 $16,538 -16.76% $12,424 $14,176 -14.10%5 Electric Program Supervisor-Meter
Shop $11,700 $12,719 -8.71% $11,700 $13,457 -15.01% $13,342 $16,062 -20.39% $11,602 $13,701 -18.10%5 Electric Program SupervisorOperational Technology $11,921 Insuff Data --- $11,921 Insuff Data --- $13,564 Insuff Data --- $11,824 Insuff Data --- 2 Electric Program Supervisor-Power
Production $12,395 $12,520 -1.01% $12,395 $13,198 -6.48% $14,040 $15,809 -12.60% $12,300 $13,360 -8.62%3 Electric Program Supervisor-Service
Planning $11,258 $10,774 4.30% $11,258 $11,010 2.20% $12,898 $14,036 -8.83% $11,158 $11,760 -5.40%4 Electric Program SupervisorSubstation Maintenance $11,700 $12,728 -8.79% $11,700 $13,452 -14.97% $13,342 $15,981 -19.78% $11,602 $13,618 -17.38% 5 Electric Program Supervisor-System
Operator-T&D $15,152 $12,914 14.77% $15,152 $13,239 12.62% $16,809 $16,353 2.71% $15,069 $14,077 6.58%4 Electric Utility Associate Resource
Planner $8,757 $10,114 -15.50% $8,757 $10,645 -21.56% $10,381 $12,895 -24.21% $8,641 $10,422 -20.61%4 Electric Utility Engineer $10,226 $10,279 -0.52% $10,226 $10,908 -6.67% $11,861 $13,555 -14.28% $10,121 $11,219 -10.85%6 Electric Utility Engineering Assistant I $6,910 $8,204 -18.73% $6,910 $8,699 -25.89% $8,520 $11,481 -34.76% $6,780 $9,230 -36.15%5 Electric Utility Engineering Assistant II $7,609 $9,231 -21.32% $7,609 $9,595 -26.11% $9,224 $12,207 -32.33% $7,484 $9,744 -30.19%5 Electric Utility Manager-Customer
Service and Metering $13,387 $13,365 0.16% $13,387 $13,829 -3.30% $15,036 $16,570 -10.20% $13,296 $14,107 -6.10%5 Electric Utility Operational Technology
Engineer $10,737 $10,476 2.43% $10,737 $10,906 -1.58% $12,374 $13,586 -9.79% $10,634 $11,123 -4.60%5 Electric Utility Operations/ Compliance
Engineer $11,934 Insuff Data --- $11,934 Insuff Data --- $13,577 Insuff Data --- $11,837 Insuff Data ---1 Electric Utility Senior Project Engineer $11,988 $12,687 -5.83% $11,988 $12,968 -8.17% $13,631 $16,052 -17.76% $11,891 $13,776 -15.86%4 Electric Utility Resource Planner $10,737 $11,564 -7.70% $10,737 $12,113 -12.82% $12,374 $14,830 -19.85% $10,634 $12,494 -17.49%6 Electrical Engineer $11,934 $12,080 -1.22% $11,934 $12,887 -7.98% $13,577 $15,389 -13.35% $11,837 $13,013 -9.94%3 Energy Services Account Manager $8,805 $11,392 -29.38% $8,805 $12,095 -37.37% $10,430 $14,696 -40.91% $8,690 $12,336 -41.96%5 GIS Manager $9,849 Insuff Data --- $9,849 Insuff Data --- $11,481 Insuff Data --- $9,741 Insuff Data ---1 Senior Electrical Engineer $12,761 $13,276 -4.04% $12,761 $13,789 -8.05% $14,407 $16,493 -14.48% $12,667 $14,031 -10.76%5 Average -7.77% Average -12.55% Average -18.65% Average -16.15% Base Salary Total Cash Total Compensation Total Compensation minus Housing Payment MEAN

Page 3 of 41 ends

Packet Pg. 515 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Assistant Director of
Electric Utility $11,376 $17,961 0% $0 $0 $0 $0 $0 $17,961 $1,552 inc inc inc $26 $12 $0 $260 $19,810 1% $180 $19,631 $1,740 $17,891 No PE Imperial Irrigation District
Manager, Assistant Energy
Department $11,987 $15,299 0% $0 $1,530 $0 $0 $0 $16,829 $0 $1,982 $0 $0 $62 $0 $0 $960 $19,833 0% $0 $19,833 $1,702 $18,131 Modesto Irrigation District No Comparable Class
Riverside
Utilities Assistant General
Manager-Energy Department $13,564 $17,684 0% $0 $75 $0 $0 $0 $17,759 $0 $1,482 $45 inc $85 $0 $0 $256 $19,627 0% $0 $19,627 $2,764 $16,863 Merit max is $20,336; No PE Roseville
Assistant Electric Utility
Director $15,819 $21,199 6.197% $1,314 $636 $0 $0 $1,060 5% for PE $24,209 $1,765 inc inc inc $64 $16 $100 $307 $26,461 6.197% $1,314 $25,147 $3,211 $21,936 No PE Sacramento Municipal Utility
District No Comparable Class Assistant General Manager not budgeted Turlock Irrigation District No Comparable Class
$17,684 $17,759 $19,833 $18,131

1.54% 1.12% -1.03% -1.34%
$18,061 $19,599 $21,536 $18,977
-0.55% -9.12% -9.70% -6.07%
3 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 4 of 41 ends

Packet Pg. 516 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding Chief Information Officer $7,850 $12,395 0% $0 $0 $0 $300 $0 $12,695 $1,552 inc inc inc $26 $12 $0 $180 $14,464 1% $124 $14,340 $1,740 $12,600 Imperial Irrigation District
Chief Information
Officer/Manager of Information
Technology $13,216 $16,867 0% $0 $1,687 $0 $0 $0 $18,554 $0 $1,982 $0 $0 $69 $0 $0 $982 $21,587 0% $0 $21,587 $1,702 $19,885 No spec Modesto Irrigation District
Information Technology
Manager $10,670 $13,659 0% $0 $683 $0
may be
provided $0 $14,342 $0 $3,078 $159 $20 $33 $24 $0 $198 $17,853 0% $0 $17,853 $1,922 $15,931 Reports to General Manager Riverside Chief Innovation Officer $13,155 $19,010 0% $0 $75 $0 $350 $0 $19,435 $0 $1,482 $45 inc $91 $0 $0 $276 $21,329 0% $0 $21,329 $2,764 $18,565 Roseville Chief Information Officer $12,458 $16,695 6.197% $1,035 $501 $0 $0 $0 $18,230 $1,765 inc inc inc $50 $16 $100 $242 $20,404 6.197% $1,035 $19,369 $3,211 $16,158 Sacramento Municipal Utility
District Chief Information Officer $21,973 $32,446 1.75% $568 $167 $0 $0 $0 $33,180 $0 $2,597 $169 $11 $15 DNA-self
funded $0 $1,208 $37,182 0% $0 $37,182 $2,203 $34,979 No spec Turlock Irrigation District
IT Services Department
Manager $11,808 $15,070 0% $0 $0 $0 $0 $0 $15,070 $42 $2,190 $133 $27 $28 $28 $0 $956 $18,474 0% $0 $18,474 $2,214 $16,260 Reports to CFO/AGM $16,781 $18,392 $20,349 $17,413
-35.39% -44.88% -41.91% -38.20%
$18,958 $19,802 $22,632 $20,296
-52.95% -55.98% -57.83% -61.08%
6 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 5 of 41 ends

Packet Pg. 517 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding Cybersecurity Officer $6,666 $9,380 0% $0 $0 $0 $0 $0 $9,380 $1,552 inc inc inc $23 $12 $0 $136 $11,102 1% $94 $11,009 $1,740 $9,269 Imperial Irrigation District Cybersecurity Specialist II $7,335 $9,362 0% $0 $936 $0 $0 $0 $10,298 $0 $1,982 $0 $0 $38 $0 $0 $716 $13,034 0% $0 $13,034 $1,702 $11,332 No spec Modesto Irrigation District No Comparable Class Information Security Officer not budgeted Riverside
Chief Innovation Security
Officer $10,171 $13,625 0% $0 $75 $0 $0 $0 $13,700 $0 $1,482 $45 inc $65 $0 $0 $198 $15,490 0% $0 $15,490 $2,764 $12,726 Merit max is $15,668 Roseville
Senior Electric Technology
System Analyst $9,490 $12,717 6.197% $788 $382 $0 $0 $0 $13,887 $1,765 inc inc inc $38 $16 $100 $184 $15,990 6.197% $788 $15,202 $3,211 $11,991 Sacramento Municipal Utility
District Manager, Cybersecurity $10,023 $14,292 1.75% $250 $167 $0 $0 $0 $14,709 $0 $2,597 $169 $11 $7 DNA-self
funded $0 $945 $18,439 0% $0 $18,439 $2,203 $16,236
Turlock Irrigation District
Manager of Security and
Emergency Preparedness $9,266 $11,823 0% $0 $0 $0 $0 $0 $11,823 $42 $2,190 $133 $27 $28 $28 $0 $904 $15,175 0% $0 $15,175 $2,214 $12,961 $12,717 $13,700 $15,202 $12,726
-35.58% -46.06% -38.09% -37.30%
$12,364 $12,883 $15,468 $13,049
-31.81% -37.35% -40.51% -40.79%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); % Redding is Above or Below Median
Labor Market Median
# Of Comparable Matches
Labor Market Mean
% Redding is Above or Below Mean

Page 6 of 41 ends

Packet Pg. 518 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding Director of Electric Utility $11,664 $18,740 0% $0 $0 $0 $300 $0 $19,040 $1,552 inc inc inc $26 $12 $0 $272 $20,901 1% $187 $20,713 $1,740 $18,973 No PE Imperial Irrigation District No Comparable Class
Modesto Irrigation District
Assistant General ManagerElectric Resources $16,371 $21,282 0% $0 $1,064 $0may be provided $0 $22,346 $0 $3,078 $159 $20 $33 $24 $0 $309 $25,968 0% $0 $25,968 $1,922 $24,046 Assistant General Manager
Transmission/Distribution is paid the same; PE
Riverside Utilities General Manager $16,976 $24,406 0% $0 $75 $0 $400 $0 $24,881 $0 $1,482 $45 inc $117 $0 $0 $354 $26,879 0% $0 $26,879 $2,764 $24,115 PE Roseville Electric Utility Director $19,774 $26,499 6.197% $1,642 $795 $0 $0 $1,325 5% PE $30,261 $1,765 inc inc inc $79 $16 $100 $384 $32,606 6.197% $1,642 $30,964 $3,211 $27,753 No PE Sacramento Municipal Utility
District Chief Officer $21,973 $32,446 1.75% $568 $167 $0 $0 $0 $33,180 $0 $2,597 $169 $11 $15 DNA-self
funded $0 $1,208 $37,182 0% $0 $37,182 $2,203 $34,979
AGM not budgeted; Have multiple Chief Officer
classes- all paid the same; no job description
Turlock Irrigation District
Assistant General ManagerElectric Engineering and
Operations $16,912 $21,585 0% $0 $0 $0 $0 $0 $21,585 $42 $2,190 $133 $27 $28 $28 $0 $1,051 $25,084 0% $0 $25,084 $2,214 $22,870 PE Shasta Lake (Director of
Electric Utility only) Electric Utility Director $17,047 $17,047 0% $0 $0 $0 $0 $0 $17,047 $0 $1,473 $150 $38 $35 $46 $0 $247 $19,036 0% $0 $19,036 $1,261 $17,775 PE desired Trinity Public Utility District
(Director of Electric Utility
only) General Manager $19,896 $19,896 0% $0 $0 $0 $750 $0 $20,646 $0 $2,526 $185 $70 $100 $11 $0 $1,026 $24,564 0% $0 $24,564 $1,420 $23,144 No PE $21,585 $22,346 $25,968 $24,046
-15.18% -17.36% -25.37% -26.73%
$23,309 $24,278 $27,097 $24,954
-24.38% -27.51% -30.82% -31.52%
7 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 7 of 41 ends

Packet Pg. 519 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric ManagerCompliance $8,478 $13,387 0% $0 $0 $0 $0 $0 $13,387 $1,552 inc inc inc $26 $12 $0 $194 $15,170 1% $134 $15,036 $1,740 $13,296 Imperial Irrigation District No Comparable Class
Modesto Irrigation District No Comparable Class
Resource Planning and Development Manager
also over NERC compliance
Riverside No Comparable Class
Roseville No Comparable Class Supervisor level
Sacramento Municipal Utility
District
Reliability Compliance
Manager $11,618 $15,392 1.75% $269 $167 $0 $0 $0 $15,828 $0 $2,597 $169 $11 $7 DNA-self
funded $0 $961 $19,574 0% $0 $19,574 $2,203 $17,371
Turlock Irrigation District No Comparable Class
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
1 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 8 of 41 ends

Packet Pg. 520 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Manager-Energy
Management $10,321 $16,296 0% $0 $0 $0 $0 $0 $16,296 $1,552 inc inc inc $26 $12 $0 $236 $18,121 1% $163 $17,958 $1,740 $16,218 Imperial Irrigation District No Comparable Class
Modesto Irrigation District No Comparable Class Supervisor level Riverside
Utilities Power Resources
Manager $13,226 $16,077 0% $0 $75 $0 $0 $0 $16,152 $0 $1,482 $45 inc $77 $0 $0 $233 $17,989 0% $0 $17,989 $2,764 $15,225 3 position- Power Planning/Marketing Manager,
Power Contracts/Projects Manager, Power Market
Operations Manager; merit max is $18,490
Roseville No Comparable Class
Sacramento Municipal Utility
District
Manager, Energy Trading and
Contracts $11,618 $15,392 1.75% $269 $167 $0 $0 $0 $15,828 $0 $2,597 $169 $11 $7 DNA-self
funded $0 $961 $19,574 0% $0 $19,574 $2,203 $17,371
Turlock Irrigation District
Energy Settlements and
Trading Support Manager $10,709 $13,667 0% $0 $0 $0 $0 $0 $13,667 $42 $2,190 $133 $27 $28 $28 $0 $936 $17,051 0% $0 $17,051 $2,214 $14,837 $15,392 $15,828 $17,989 $15,225

5.55% 2.87% -0.17% 6.12%
$15,045 $15,216 $18,205 $15,811

7.67% 6.63% -1.37% 2.51%
3 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); % Redding is Above or Below Median
Labor Market Median
# Of Comparable Matches
Labor Market Mean
% Redding is Above or Below Mean

Page 9 of 41 ends

Packet Pg. 521 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric ManagerEngineering $10,047 $15,864 0% $0 $0 $0 $0 $0 $15,864 $1,552 inc inc inc $26 $12 $0 $230 $17,683 1% $159 $17,524 $1,740 $15,784 PE Imperial Irrigation District No Comparable Class
Modesto Irrigation District Electric Engineering Manager $12,374 $15,839 0% $0 $792 $0 may be
provided $0 $16,631 $0 $3,078 $159 $20 $33 $24 $0 $230 $20,174 0% $0 $20,174 $1,922 $18,252 Riverside
Utilities Electrical Engineering
Manager $12,773 $15,526 0% $0 $75 $0 $0 $0 $15,601 $0 $1,482 $45 inc $75 $0 $0 $225 $17,428 0% $0 $17,428 $2,764 $14,664 Merit max is $17,855 Roseville Electric Operations Manager $14,443 $19,356 6.197% $1,199 $581 $0 $0 $0 added to base
for PE $21,136 $1,765 inc inc inc $58 $16 $100 $281 $23,356 6.197% $1,199 $22,156 $3,211 $18,945 No PE-added 5% for PE to base; higher paid than
Power Engineering Manager
Sacramento Municipal Utility
District Manager, Civil Engineering $11,618 $15,392 1.75% $269 $167 $0 $0 $0 $15,828 $0 $2,597 $169 $11 $7 DNA-self
funded $0 $961 $19,574 0% $0 $19,574 $2,203 $17,371 No PE Turlock Irrigation District
Electrical Engineering and
Operations Department
Manager $12,396 $15,824 0% $0 $0 $0 $0 $0 $15,824 $42 $2,190 $133 $27 $28 $28 $0 $967 $19,239 0% $0 $19,239 $2,214 $17,025 PE $15,824 $15,828 $19,574 $17,371

0.25% 0.23% -11.70% -10.05%
$16,387 $17,004 $19,714 $17,251
-3.30% -7.19% -12.50% -9.29%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); % Redding is Above or Below Median
Labor Market Median
# Of Comparable Matches
Labor Market Mean
% Redding is Above or Below Mean

Page 10 of 41 ends

Packet Pg. 522 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding Electric Manager-Financial $9,303 $14,689 0% $0 $0 $0 $0 $0 $14,689 $1,552 inc inc inc $26 $12 $0 $213 $16,491 1% $147 $16,344 $1,740 $14,604 Imperial Irrigation District No Comparable Class
CFO/Manager Finance Department is what IID
matched but it over all of finance for the entire
district
Modesto Irrigation District
Pricing/Risk Management
Administrator $11,081 $14,404 0% $0 $720 $0
may be
provided $0 $15,124 $0 $3,078 $159 $20 $33 $24 $0 $209 $18,646 0% $0 $18,646 $1,922 $16,724 Riverside Utilities Fiscal Manager $10,171 $12,979 0% $0 $75 $0 $0 $0 $13,054 $0 $1,482 $45 inc $62 $0 $0 $188 $14,831 0% $0 $14,831 $2,764 $12,067 Merit max is $14,924 Roseville
Electric Utility Financial
Administrator $10,924 $14,640 6.197% $907 $439 $0 $0 $0 $15,986 $1,765 inc inc inc $44 $16 $100 $212 $18,124 6.197% $907 $17,216 $3,211 $14,005 Sacramento Municipal Utility
District
Manager, Budget Office and
Rates $11,618 $16,576 1.75% $290 $167 $0 $0 $0 $17,033 $0 $2,597 $169 $11 $8 DNA-self
funded $0 $978 $20,797 0% $0 $20,797 $2,203 $18,594
Turlock Irrigation District
Rates and Risk Department
Manager $11,808 $15,070 0% $0 $0 $0 $0 $0 $15,070 $42 $2,190 $133 $27 $28 $28 $0 $956 $18,474 0% $0 $18,474 $2,214 $16,260 $14,640 $15,124 $18,474 $16,260

0.33% -2.96% -13.03% -11.34%
$14,734 $15,253 $17,993 $15,530
-0.30% -3.84% -10.09% -6.34%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 11 of 41 ends

Packet Pg. 523 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric ManagerLegislative $7,850 $12,395 0% $0 $0 $0 $0 $0 $12,395 $1,552 inc inc inc $26 $12 $0 $180 $14,164 1% $124 $14,040 $1,740 $12,300 Imperial Irrigation District No Comparable Class
Modesto Irrigation District Regulatory Administrator $10,410 $13,326 0% $0 $666 $0 may be
provided $0 $13,992 $0 $3,078 $159 $20 $33 $24 $0 $193 $17,499 0% $0 $17,499 $1,922 $15,577 Riverside No Comparable Class
Roseville
Utility Government Relations
Administrator $7,978 $10,691 6.197% $663 $321 $0 $0 $0 $11,674 $1,765 inc inc inc $32 $16 $100 $155 $13,742 6.197% $663 $13,080 $3,211 $9,869 Sacramento Municipal Utility
District
Legislative and Regulatory
Program Manager $10,790 $14,292 1.75% $250 $167 $0 $0 $0 $14,709 $0 $2,597 $169 $11 $7 DNA-self
funded $0 $945 $18,439 0% $0 $18,439 $2,203 $16,236
Turlock Irrigation District No Comparable Class Director of External Affairs $13,326 $13,992 $17,499 $15,577
-7.51% -12.89% -24.64% -26.64%
$12,770 $13,458 $16,339 $13,894
-3.02% -8.58% -16.38% -12.96%
3 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 12 of 41 ends

Packet Pg. 524 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding Electric Manager-Line $9,590 $15,143 0% $0 $0 $0 $0 $0 $15,143 $1,552 inc inc inc $26 $12 $0 $220 $16,952 1% $151 $16,800 $1,740 $15,060 Imperial Irrigation District No Comparable Class
Modesto Irrigation District Line Construction Manager $12,073 $15,453 0% $0 $773 $0 may be
provided $0 $16,226 $0 $3,078 $159 $20 $33 $24 $0 $224 $19,763 0% $0 $19,763 $1,922 $17,841 Riverside Utilities Electric Field Manager $12,773 $15,526 0% $0 $75 $0 $0 $0 $15,601 $0 $1,482 $45 inc $75 $0 $0 $225 $17,428 0% $0 $17,428 $2,764 $14,664 Merit max is $17,855 Roseville Electric Operations Manager $13,755 $18,434 6.197% $1,142 $553 $0 $0 $0 $20,129 $1,765 inc inc inc $55 $16 $100 $267 $22,333 6.197% $1,142 $21,191 $3,211 $17,980 1 position over substation; maintenance, metering
and dispatch
Sacramento Municipal Utility
District
Manager, T/D Line
Construction and Maintenance $11,618 $16,985 1.75% $297 $167 $0 $0 $0 $17,449 $0 $2,597 $169 $11 $8 DNA-self
funded $0 $984 $21,219 0% $0 $21,219 $2,203 $19,016
Turlock Irrigation District Line Department Manager $11,808 $15,070 0% $0 $0 $0 $0 $0 $15,070 $42 $2,190 $133 $27 $28 $28 $0 $956 $18,474 0% $0 $18,474 $2,214 $16,260 $15,526 $16,226 $19,763 $17,841
-2.53% -7.15% -17.64% -18.46%
$16,294 $16,895 $19,615 $17,152
-7.60% -11.57% -16.75% -13.89%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Median
Labor Market Mean
% Redding is Above or Below Mean

Page 13 of 41 ends

Packet Pg. 525 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Manager-Power
Plant Production $9,590 $15,143 0% $0 $0 $0 $0 $0 $15,143 $1,552 inc inc inc $26 $12 $0 $220 $16,952 1% $151 $16,800 $1,740 $15,060 Imperial Irrigation District No Comparable Class
Modesto Irrigation District Generation Manager $13,326 $17,058 0% $0 $853 $0 may be
provided $0 $17,911 $0 $3,078 $159 $20 $33 $24 $0 $247 $21,471 0% $0 $21,471 $1,922 $19,549 Riverside Utilities Generation Manager $12,773 $15,526 0% $0 $75 $0 $0 $0 $15,601 $0 $1,482 $45 inc $75 $0 $0 $225 $17,428 0% $0 $17,428 $2,764 $14,664 Merit max is $17,855 Roseville
Power Generation
Superintendent $12,898 $17,285 6.197% $1,071 $519 $0 $0 $0 $18,875 $1,765 inc inc inc $52 $16 $100 $251 $21,058 6.197% $1,071 $19,987 $3,211 $16,776 Sacramento Municipal Utility
District
Manager, Power Systems
Operations $11,618 $16,985 1.75% $297 $167 $0 $0 $0 $17,449 $0 $2,597 $169 $11 $8 DNA-self
funded $0 $984 $21,219 0% $0 $21,219 $2,203 $19,016
Turlock Irrigation District
Combustion Turbine
Department Manager $11,808 $15,070 0% $0 $0 $0 $0 $0 $15,070 $42 $2,190 $133 $27 $28 $28 $0 $956 $18,474 0% $0 $18,474 $2,214 $16,260 $16,985 $17,449 $19,987 $16,776
-12.16% -15.23% -18.97% -11.39%
$16,385 $16,981 $19,716 $17,253
-8.20% -12.14% -17.36% -14.56%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); % Redding is Above or Below Median
Labor Market Median
# Of Comparable Matches
Labor Market Mean
% Redding is Above or Below Mean

Page 14 of 41 ends

Packet Pg. 526 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric ManagerResources $9,591 $15,143 0% $0 $0 $0 $0 $0 $15,143 $1,552 inc inc inc $26 $12 $0 $220 $16,952 1% $151 $16,800 $1,740 $15,060 Imperial Irrigation District No Comparable Class
Modesto Irrigation District
Resource Planning and
Development Manager $12,683 $16,236 0% $0 $812 $0
may be
provided $0 $17,048 $0 $3,078 $159 $20 $33 $24 $0 $235 $20,596 0% $0 $20,596 $1,922 $18,674 Riverside
Utilities Power Resources
Manager $13,226 $16,077 0% $0 $75 $0 $0 $0 $16,152 $0 $1,482 $45 inc $77 $0 $0 $233 $17,989 0% $0 $17,989 $2,764 $15,225 Merit max is $18,490 Roseville
Power Supply and Portfolio
Administrator $13,416 $17,979 6.197% $1,114 $539 $0 $0 $0 $19,633 $1,765 inc inc inc $54 $16 $100 $261 $21,828 6.197% $1,114 $20,714 $3,211 $17,503 Sacramento Municipal Utility
District Manager, Resource Planning $11,333 $15,017 1.75% $263 $167 $0 $0 $0 $15,447 $0 $2,597 $169 $11 $7 DNA-self
funded $0 $956 $19,187 0% $0 $19,187 $2,203 $16,984
Turlock Irrigation District
Resource Planning
Department Manager $11,808 $15,070 0% $0 $0 $0 $0 $0 $15,070 $42 $2,190 $133 $27 $28 $28 $0 $956 $18,474 0% $0 $18,474 $2,214 $16,260 $16,077 $16,152 $19,187 $16,984
-6.17% -6.66% -14.21% -12.78%
$16,076 $16,670 $19,392 $16,929
-6.16% -10.08% -15.43% -12.41%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 15 of 41 ends

Packet Pg. 527 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor $7,127 $11,258 0% $0 $0 $0 $0 $0 $11,258 $1,552 inc inc inc $26 $12 $0 $163 $13,010 1% $113 $12,898 $1,740 $11,158 Imperial Irrigation District No Comparable Class
Modesto Irrigation District No Comparable Class
Riverside No Comparable Class
Roseville No Comparable Class
Sacramento Municipal Utility
District No Comparable Class
Turlock Irrigation District No Comparable Class
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
0 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 16 of 41 ends

Packet Pg. 528 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor-Customer
Programs $7,127 $11,258 0% $0 $0 $0 $0 $0 $11,258 $1,552 inc inc inc $26 $12 $0 $163 $13,010 1% $113 $12,898 $1,740 $11,158 Imperial Irrigation District
Superintendent, General
Customer Services $10,322 $13,173 0% $0 $1,317 $0 $0 $0 $14,490 $0 $1,982 $0 $0 $54 $0 $0 $929 $17,455 0% $0 $17,455 $1,702 $15,753 Modesto Irrigation District Energy Services Supervisor $9,908 $12,683 0% $0 $634 $0 $0 $0 $13,317 $0 $3,078 $159 $20 $33 $24 $0 $184 $16,814 0% $0 $16,814 $1,922 $14,892 Riverside No Comparable Class
Roseville
Electric Customer Program
Supervisor $10,925 $14,640 6.197% $907 $439 $0 $0 $0 $15,986 $1,765 inc inc inc $44 $16 $100 $212 $18,124 6.197% $907 $17,216 $3,211 $14,005 Sacramento Municipal Utility
District No Comparable Class
Turlock Irrigation District Energy Services Manager $9,989 $12,749 0% $0 $0 $0 $0 $0 $12,749 $42 $2,190 $133 $27 $28 $28 $0 $923 $16,120 0% $0 $16,120 $2,214 $13,906 $12,961 $13,904 $17,015 $14,449
-15.13% -23.50% -31.93% -29.50%
$13,311 $14,136 $16,901 $14,639
-18.24% -25.56% -31.04% -31.20%
4 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 17 of 41 ends

Packet Pg. 529 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor-Arborist $7,127 $11,258 0% $0 $0 $0 $0 $0 $11,258 $1,552 inc inc inc $26 $12 $0 $163 $13,010 1% $113 $12,898 $1,740 $11,158 Imperial Irrigation District
Superintendent, Energy
Compliance and Vegetation $8,087 $10,322 0% $0 $1,032 $0 $0 $0 $11,354 $0 $1,982 $0 $0 $42 $0 $0 $790 $14,168 0% $0 $14,168 $1,702 $12,466 No spec Modesto Irrigation District No Comparable Class Contracted out Riverside No Comparable Class
Roseville No Comparable Class
Sacramento Municipal Utility
District No Comparable Class
Turlock Irrigation District No Comparable Class
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
1 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); % Redding is Above or Below Median
Labor Market Median
# Of Comparable Matches
Labor Market Mean
% Redding is Above or Below Mean

Page 18 of 41 ends

Packet Pg. 530 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base
Salary
Maximum
Base
Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor- Customer
Services $7,127 $11,258 0% $0 $0 $0 $0 $0 $11,258 $1,552 inc inc inc $26 $12 $0 $163 $13,010 1% $113 $12,898 $1,740 $11,158 Imperial Irrigation District
Superintendent, General
Customer Services $10,322 $13,173 0% $0 $1,317 $0 $0 $0 $14,490 $0 $1,982 $0 $0 $54 $0 $0 $929 $17,455 0% $0 $17,455 $1,702 $15,753 Modesto Irrigation District Customer Services Supervisor $4,963 $6,353 0% $0 $318 $0 $0 $0 $6,671 $0 $3,078 $159 $20 $17 $17 $0 $92 $10,053 0% $0 $10,053 $1,922 $8,131 Riverside
Utilities Customer Service
Supervisor $5,761 $6,998 0% $0 $75 $0 $0 $0 $7,073 $0 $1,482 $45 inc $34 $0 $0 $101 $8,735 0% $0 $8,735 $2,764 $5,971 Roseville
Utility Customer Service
Supervisor $5,217 $6,992 6.197% $433 $210 $0 $0 $0 $7,635 $1,765 inc inc inc $21 $11 $100 $101 $9,634 6.197% $433 $9,200 $3,211 $5,989 Sacramento Municipal Utility
District
Supervising Customer
Representative $6,588 $8,730 1.75% $153 $167 $0 $0 $0 $9,049 $0 $2,597 $169 $11 $4 DNA-self
funded $0 $668 $12,499 0% $0 $12,499 $2,203 $10,296
Turlock Irrigation District
Customer Services Division
Manager $7,893 $10,074 0% $0 $0 $0 $0 $0 $10,074 $42 $2,190 $133 $27 $28 $23 $0 $771 $13,288 0% $0 $13,288 $2,214 $11,074 $7,864 $8,342 $11,276 $9,214

30.15% 25.90% 12.57% 17.42%
$8,720 $9,165 $11,872 $9,536

22.54% 18.59% 7.95% 14.54%
6 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 19 of 41 ends

Packet Pg. 531 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor-Energy
Management $12,722 $15,463 0% $0 $0 $0 $0 $0 $15,463 $1,552 inc inc inc $26 $12 $0 $224 $17,276 1% $155 $17,122 $1,740 $15,382 Imperial Irrigation District
Supervisor, Computer
Systems Application $9,362 $11,949 0% $0 $1,195 $0 $0 $0 $13,144 $0 $1,982 $0 $0 $49 $0 $0 $911 $16,085 0% $0 $16,085 $1,702 $14,383 Modesto Irrigation District Power Scheduling Supervisor $10,670 $13,659 0% $0 $683 $0 $0 $0 $14,342 $0 $3,078 $159 $20 $33 $24 $0 $198 $17,853 0% $0 $17,853 $1,922 $15,931 Riverside No Comparable Class No Supervisor level
Roseville No Comparable Class
Sacramento Municipal Utility
District No Comparable Class Manager level
Turlock Irrigation District No Comparable Class
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
2 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); % Redding is Above or Below Median
Labor Market Median
# Of Comparable Matches
Labor Market Mean
% Redding is Above or Below Mean

Page 20 of 41 ends

Packet Pg. 532 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor-Finance $7,127 $11,258 0% $0 $0 $0 $0 $0 $11,258 $1,552 inc inc inc $26 $12 $0 $163 $13,010 1% $113 $12,898 $1,740 $11,158 Imperial Irrigation District No Comparable Class
Modesto Irrigation District No Comparable Class
Riverside No Comparable Class
Roseville No Comparable Class
Sacramento Municipal Utility
District No Comparable Class No supervisor level
Turlock Irrigation District No Comparable Class
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
0 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); % Redding is Above or Below Median
Labor Market Median
# Of Comparable Matches
Labor Market Mean
% Redding is Above or Below Mean

Page 21 of 41 ends

Packet Pg. 533 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor-Line $7,925 $12,519 0% $0 $0 $0 $0 $0 $12,519 $1,552 inc inc inc $26 $12 $0 $182 $14,290 1% $125 $14,164 $1,740 $12,424 Imperial Irrigation District
Superintendent, General
Energy Construction and
Maintenance $9,922 $12,663 0% $0 $1,266 $0 $0 $0 $13,929 $0 $1,982 $0 $0 $52 $0 $0 $921 $16,884 0% $0 $16,884 $1,702 $15,182 No spec Modesto Irrigation District Line Construction Supervisor $9,908 $12,683 0% $0 $634 $0 $0 $0 $13,317 $0 $3,078 $159 $20 $33 $24 $0 $184 $16,814 0% $0 $16,814 $1,922 $14,892 Riverside Utilities Electric Supervisor $11,956 $13,176 0% $0 $250 $0 $0 $0 $13,426 $0 $1,511 $55 inc $63 $0 $100 $191 $15,346 0% $0 $15,346 $2,764 $12,582 Roseville Electric Operations Supervisor $12,504 $16,757 6.197% $1,038 $503 $0 $0 $0 $18,298 $1,765 inc inc inc $50 $16 $100 $243 $20,472 6.197% $1,038 $19,434 $3,211 $16,223 Broad Sacramento Municipal Utility
District No Comparable Class
Turlock Irrigation District Line Supervisor $10,970 $10,970 0% $0 $0 $0 $0 $0 $10,970 $0 $2,190 $133 $27 $28 $26 $0 $839 $14,213 0% $0 $14,213 $2,214 $11,999 $12,683 $13,426 $16,814 $14,892
-1.31% -7.24% -18.71% -19.86%
$13,250 $13,988 $16,538 $14,176
-5.84% -11.74% -16.76% -14.10%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 22 of 41 ends

Packet Pg. 534 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor-Meter Shop $7,407 $11,700 0% $0 $0 $0 $0 $0 $11,700 $1,552 inc inc inc $26 $12 $0 $170 $13,459 1% $117 $13,342 $1,740 $11,602 Imperial Irrigation District Supervisor, Electrical Metering $8,570 $10,939 0% $0 $1,094 $0 $0 $0 $12,033 $0 $1,982 $0 $0 $45 $0 $0 $837 $14,896 0% $0 $14,896 $1,702 $13,194 Modesto Irrigation District Metering Supervisor $10,670 $13,659 0% $0 $683 $0 $0 $0 $14,342 $0 $3,078 $159 $20 $33 $24 $0 $198 $17,853 0% $0 $17,853 $1,922 $15,931 Riverside
Utilities Senior Electric Meter
Technician $9,533 $10,501 0% $0 $0 $0 $0 $0 $10,501 $0 $1,511 $55 inc $15 $0 $100 $152 $12,334 0% $0 $12,334 $2,764 $9,570 Supervises Roseville Electric Operations Supervisor $12,504 $16,757 6.197% $1,038 $503 $0 $0 $0 $18,298 $1,765 inc inc inc $50 $16 $100 $243 $20,472 6.197% $1,038 $19,434 $3,211 $16,223 Broad Sacramento Municipal Utility
District Supervisor, Field Metering $8,431 $11,737 1.75% $205 $167 $0 $0 $0 $12,109 $0 $2,597 $169 $11 $5 DNA-self
funded $0 $898 $15,791 0% $0 $15,791 $2,203 $13,588
Turlock Irrigation District No Comparable Class Meter Supervisor not budgeted $11,737 $12,109 $15,791 $13,588
-0.32% -3.50% -18.36% -17.12%
$12,719 $13,457 $16,062 $13,701
-8.71% -15.01% -20.39% -18.10%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 23 of 41 ends

Packet Pg. 535 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor-Operational
Technology $7,546 $11,921 0% $0 $0 $0 $0 $0 $11,921 $1,552 inc inc inc $26 $12 $0 $173 $13,683 1% $119 $13,564 $1,740 $11,824 Imperial Irrigation District No Comparable Class
Modesto Irrigation District No Comparable Class
Riverside
Principal Innovation
Technology Analyst $8,501 $11,399 0% $0 $75 $0 $0 $0 $11,474 $0 $1,482 $45 inc $55 $0 $0 $165 $13,221 0% $0 $13,221 $2,764 $10,457 Roseville
Electric Technology Systems
Administrator $10,925 $14,640 6.197% $907 $439 $0 $0 $0 $15,986 $1,765 inc inc inc $44 $16 $100 $212 $18,124 6.197% $907 $17,216 $3,211 $14,005 Sacramento Municipal Utility
District No Comparable Class
Turlock Irrigation District No Comparable Class
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
2 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 24 of 41 ends

Packet Pg. 536 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor-Power
Production $7,850 $12,395 0% $0 $0 $0 $0 $0 $12,395 $1,552 inc inc inc $26 $12 $0 $180 $14,164 1% $124 $14,040 $1,740 $12,300 Imperial Irrigation District Data Not Available
Modesto Irrigation District Generation Supervisor $9,201 $11,778 0% $0 $589 $0 $0 $0 $12,367 $0 $3,078 $159 $20 $31 $24 $0 $171 $15,849 0% $0 $15,849 $1,922 $13,927 Riverside No Comparable Class
Roseville
Power Plant Operations and
Maintenance Supervisor $11,744 $15,738 6.197% $975 $472 $0 $0 $0 $17,185 $1,765 inc inc inc $47 $16 $100 $228 $19,342 6.197% $975 $18,367 $3,211 $15,156 Sacramento Municipal Utility
District No Comparable Class
Turlock Irrigation District Power Plant Supervisor $10,043 $10,043 0% $0 $0 $0 $0 $0 $10,043 $0 $2,190 $133 $27 $28 $23 $0 $768 $13,213 0% $0 $13,213 $2,214 $10,999 $11,778 $12,367 $15,849 $13,927

4.98% 0.23% -12.89% -13.23%
$12,520 $13,198 $15,809 $13,360
-1.01% -6.48% -12.60% -8.62%
3 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 25 of 41 ends

Packet Pg. 537 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer ($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program SupervisorService Planning $7,127 $11,258 0% $0 $0 $0 $0 $0 $11,258 $1,552 inc inc inc $26 $12 $0 $163 $13,010 1% $113 $12,898 $1,740 $11,158 Imperial Irrigation District No Comparable Class
Modesto Irrigation District
Engineering Technician
Supervisor $7,367 $9,431 0% $0 $472 $0 $0 $0 $9,903 $0 $3,078 $159 $20 $25 $24 $0 $137 $13,344 0% $0 $13,344 $1,922 $11,422 Riverside
Utilities Supervising
Engineering TechnicianElectrical $7,968 $10,171 0% $0 $75 $0 $0 $0 $10,246 $0 $1,482 $45 inc $49 $0 $0 $147 $11,969 0% $0 $11,969 $2,764 $9,205 Merit Max is $11,697 Roseville No Comparable Class
Sacramento Municipal Utility
District
Distribution Line Design
Supervisor $9,079 $13,277 1.75% $232 $167 $0 $0 $0 $13,676 $0 $2,597 $169 $11 $6 DNA-self
funded $0 $930 $17,391 0% $0 $17,391 $2,203 $15,188
Turlock Irrigation District
Supervising Engineering
Technician-Electrical
Engineering $8,003 $10,215 0% $0 $0 $0 $0 $0 $10,215 $42 $2,190 $133 $27 $28 $24 $0 $781 $13,440 0% $0 $13,440 $2,214 $11,226 $10,193 $10,231 $13,392 $11,324

9.46% 9.13% -3.84% -1.49%
$10,774 $11,010 $14,036 $11,760

4.30% 2.20% -8.83% -5.40%
4 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 26 of 41 ends

Packet Pg. 538 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor-Substation
Maintenance $7,407 $11,700 0% $0 $0 $0 $0 $0 $11,700 $1,552 inc inc inc $26 $12 $0 $170 $13,459 1% $117 $13,342 $1,740 $11,602 Imperial Irrigation District
Superintendent, Substation
Construction and Maintenance $9,450 $12,060 0% $0 $1,206 $0 $0 $0 $13,266 $0 $1,982 $0 $0 $49 $0 $0 $913 $16,210 0% $0 $16,210 $1,702 $14,508 Modesto Irrigation District Substation Supervisor $9,667 $12,374 0% $0 $619 $0 $0 $0 $12,993 $0 $3,078 $159 $20 $33 $24 $0 $179 $16,485 0% $0 $16,485 $1,922 $14,563 Riverside
Utilities Substation
Construction Supervisor $10,209 $12,408 0% $0 $250 $0 $0 $0 $12,658 $0 $1,511 $55 inc $60 $0 $100 $180 $14,563 0% $0 $14,563 $2,764 $11,799 Roseville Electric Substation Supervisor $12,504 $16,757 6.197% $1,038 $503 $0 $0 $0 $18,298 $1,765 inc inc inc $50 $16 $100 $243 $20,472 6.197% $1,038 $19,434 $3,211 $16,223 Sacramento Municipal Utility
District No Comparable Class Manager level
Turlock Irrigation District Substation Supervisor $10,043 $10,043 0% $0 $0 $0 $0 $0 $10,043 $0 $2,190 $133 $27 $28 $23 $0 $768 $13,213 0% $0 $13,213 $2,214 $10,999 $12,374 $12,993 $16,210 $14,508
-5.76% -11.05% -21.50% -25.05%
$12,728 $13,452 $15,981 $13,618
-8.79% -14.97% -19.78% -17.38%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 27 of 41 ends

Packet Pg. 539 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Program
Supervisor-System
Operator-T&D $12,438 $15,152 0% $0 $0 $0 $0 $0 $15,152 $1,552 inc inc inc $26 $12 $0 $220 $16,961 1% $152 $16,809 $1,740 $15,069 Imperial Irrigation District No Comparable Class
Modesto Irrigation District Dispatch Shift Supervisor $12,683 $12,683 0% $0 $634 $0 $0 $0 $13,317 $0 $3,078 $159 $20 $33 $24 $0 $184 $16,814 0% $0 $16,814 $1,922 $14,892 Riverside Utilities Dispatch Supervisor $10,240 $12,442 0% $0 $250 $0 $0 $0 $12,692 $0 $1,511 $55 inc $60 $0 $100 $180 $14,598 0% $0 $14,598 $2,764 $11,834 Roseville No Comparable Class Dispatch reports to Electric Operations Manager Sacramento Municipal Utility
District
Supervisor, Distribution
Systems Operations-Field
Operations $10,790 $14,292 1.75% $250 $167 $0 $0 $0 $14,709 $0 $2,597 $169 $11 $7 DNA-self
funded $0 $945 $18,439 0% $0 $18,439 $2,203 $16,236
Turlock Irrigation District Power Control Shift Supervisor $12,239 $12,239 0% $0 $0 $0 $0 $0 $12,239 $0 $2,190 $133 $27 $28 $28 $0 $915 $15,561 0% $0 $15,561 $2,214 $13,347 $12,563 $13,005 $16,187 $14,119

17.09% 14.17% 3.70% 6.30%
$12,914 $13,239 $16,353 $14,077

14.77% 12.62% 2.71% 6.58%
4 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); % Redding is Above or Below Median
Labor Market Median
# Of Comparable Matches
Labor Market Mean
% Redding is Above or Below Mean

Page 28 of 41 ends

Packet Pg. 540 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Utility Associate
Resource Planner $5,518 $8,757 0% $0 $0 $0 $0 $0 $8,757 $1,552 inc inc inc $21 $12 $0 $127 $10,469 1% $88 $10,381 $1,740 $8,641 Imperial Irrigation District Planner Integrated Resources $7,335 $9,362 0% $0 $936 $0 $0 $0 $10,298 $0 $1,982 $0 $0 $38 $0 $0 $716 $13,034 0% $0 $13,034 $1,702 $11,332 Modesto Irrigation District No Comparable Class
Riverside Utilities Resources Analyst $7,227 $8,783 0% $0 $75 $0 $0 $0 $8,858 $0 $1,482 $45 inc $42 $0 $0 $127 $10,554 0% $0 $10,554 $2,764 $7,790 Merit max is $10,098 Roseville Electric Resources Planner I $9,026 $12,096 6.197% $750 $363 $0 $0 $0 $13,208 $1,765 inc inc inc $36 $16 $100 $175 $15,301 6.197% $750 $14,552 $3,211 $11,341 Sacramento Municipal Utility
District No Comparable Class No entry level
Turlock Irrigation District
Utility Analyst I-Resources
Planning $8,003 $10,215 0% $0 $0 $0 $0 $0 $10,215 $42 $2,190 $133 $27 $28 $24 $0 $781 $13,440 0% $0 $13,440 $2,214 $11,226 $9,789 $10,257 $13,237 $11,279
-11.78% -17.12% -27.51% -30.53%
$10,114 $10,645 $12,895 $10,422
-15.50% -21.56% -24.21% -20.61%
4 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 29 of 41 ends

Packet Pg. 541 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding Electric Utility Engineer $6,435 $10,226 0% $0 $0 $0 $0 $0 $10,226 $1,552 inc inc inc $25 $12 $0 $148 $11,963 1% $102 $11,861 $1,740 $10,121 Imperial Irrigation District Engineer I $7,335 $9,362 0% $0 $936 $0 $0 $0 $10,298 $0 $1,982 $0 $0 $38 $0 $0 $716 $13,034 0% $0 $13,034 $1,702 $11,332 EIT Modesto Irrigation District Associate Electrical Engineer $9,201 $11,778 0% $0 $589 $0 $0 $0 $12,367 $0 $3,078 $159 $20 $31 $24 $0 $171 $15,849 0% $0 $15,849 $1,922 $13,927 PE desired Riverside
Utilities Associate Electrical
Engineer $6,154 $7,481 0% $0 $0 $0 $0 $0 $7,481 $0 $1,411 $45 inc $2 $0 $0 $108 $9,048 0% $0 $9,048 $2,764 $6,284 Tier 2 salary Roseville Power Engineer II $9,100 $12,804 6.197% $793 $484 $0 $0 $640 5% PE $14,722 $1,765 inc inc inc $38 $25 $100 $186 $16,836 6.197% $793 $16,042 $3,211 $12,831 EIT Sacramento Municipal Utility
District
Associate Electrical EngineerEntry $7,097 $9,398 1.75% $164 $167 $0 $0 $0 $9,729 $0 $2,597 $169 $11 $4DNA-self funded $0 $719 $13,231 0% $0 $13,231 $2,203 $11,028 EIT Turlock Irrigation District Assistant Engineer (electrical) $8,501 $10,849 0% $0 $0 $0 $0 $0 $10,849 $42 $2,190 $133 $27 $28 $25 $0 $830 $14,124 0% $0 $14,124 $2,214 $11,910 $10,124 $10,574 $13,677 $11,621

1.00% -3.40% -15.32% -14.83%
$10,279 $10,908 $13,555 $11,219
-0.52% -6.67% -14.28% -10.85%
6 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 30 of 41 ends

Packet Pg. 542 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Utility Engineering
Assistant I $4,332 $6,910 0% $0 $0 $0 $0 $0 $6,910 $1,552 inc inc inc $17 $10 $0 $100 $8,589 1% $69 $8,520 $1,740 $6,780 Imperial Irrigation District Engineer, Assistant $6,337 $8,087 0% $0 $809 $0 $0 $0 $8,896 $0 $1,982 $0 $0 $33 $0 $0 $619 $11,529 0% $0 $11,529 $1,702 $9,827 no spec Modesto Irrigation District Engineering Technician I $5,158 $6,602 0% $0 $330 $0 $0 $0 $6,932 $0 $3,078 $159 $20 $17 $18 $0 $96 $10,319 0% $0 $10,319 $1,922 $8,397 Riverside No Comparable Class
Roseville
Electric Engineering
Technician I $6,991 $9,836 6.197% $610 $395 $0 $0 $0 $10,841 $1,765 inc inc inc $30 $24 $100 $143 $12,902 6.197% $610 $12,293 $3,211 $9,082 Sacramento Municipal Utility
District
Associate Distribution Design
Engineer-Entry $7,097 $9,398 1.75% $164 $167 $0 $0 $0 $9,729 $0 $2,597 $169 $11 $4 DNA-self
funded $0 $719 $13,231 0% $0 $13,231 $2,203 $11,028
Turlock Irrigation District
Engineering Technician -
Electrical I $5,840 $7,099 0% $0 $0 $0 $0 $0 $7,099 $0 $2,190 $133 $27 $24 $17 $0 $543 $10,033 0% $0 $10,033 $2,214 $7,819 $8,087 $8,896 $11,529 $9,082
-17.03% -28.74% -35.33% -33.96%
$8,204 $8,699 $11,481 $9,230
-18.73% -25.89% -34.76% -36.15%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 31 of 41 ends

Packet Pg. 543 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Utility Engineering
Assistant II $4,795 $7,609 0% $0 $0 $0 $0 $0 $7,609 $1,552 inc inc inc $19 $11 $0 $110 $9,300 1% $76 $9,224 $1,740 $7,484 Imperial Irrigation District No Comparable Class
Modesto Irrigation District Engineering Technician II $5,694 $7,289 0% $0 $364 $0 $0 $0 $7,653 $0 $3,078 $159 $20 $19 $19 $0 $106 $11,054 0% $0 $11,054 $1,922 $9,132 Riverside
Utilities Senior Engineering
Technician-Electric $7,124 $8,660 0% $0 $0 $0 $0 $0 $8,660 $0 $1,411 $45 inc $2 $0 $0 $126 $10,244 0% $0 $10,244 $2,764 $7,480 Tier 2 salary Roseville
Electric Engineering
Technician II $7,690 $10,820 6.197% $671 $425 $0 $0 $0 $11,915 $1,765 inc inc inc $32 $25 $100 $157 $13,994 6.197% $671 $13,324 $3,211 $10,113 Sacramento Municipal Utility
District
Associate Distribution Design
Engineer-Journey $8,431 $11,171 1.75% $195 $167 $0 $0 $0 $11,533 $0 $2,597 $169 $11 $5 DNA-self
funded $0 $855 $15,171 0% $0 $15,171 $2,203 $12,968
Turlock Irrigation District
Engineering TechnicianElectrical II $6,760 $8,215 0% $0 $0 $0 $0 $0 $8,215 $0 $2,190 $133 $27 $28 $19 $0 $628 $11,240 0% $0 $11,240 $2,214 $9,026 $8,660 $8,660 $11,240 $9,132
-13.81% -13.81% -21.86% -22.02%
$9,231 $9,595 $12,207 $9,744
-21.32% -26.11% -32.33% -30.19%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); % Redding is Above or Below Median
Labor Market Median
# Of Comparable Matches
Labor Market Mean
% Redding is Above or Below Mean

Page 32 of 41 ends

Packet Pg. 544 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Utility ManagerCustomer Service and
Metering $8,478 $13,387 0% $0 $0 $0 $0 $0 $13,387 $1,552 inc inc inc $26 $12 $0 $194 $15,170 1% $134 $15,036 $1,740 $13,296 Imperial Irrigation District No Comparable Class
Modesto Irrigation District Customer Services Manager $9,908 $12,683 0% $0 $634 $0 may be
provided $0 $13,317 $0 $3,078 $159 $20 $33 $24 $0 $184 $16,814 0% $0 $16,814 $1,922 $14,892 Over billing and call center Riverside
Utilities Public
Benefits/Customer Relations
Manager $8,658 $12,711 0% $0 $75 $0 $0 $0 $12,786 $0 $1,482 $45 inc $61 $0 $0 $184 $14,558 0% $0 $14,558 $2,764 $11,794 Paid higher than Utilities Customer Services
Manager
Roseville
Utility Billing Operations
Manager $9,577 $12,834 6.197% $795 $385 $0 $0 $0 $14,014 $1,765 inc inc inc $39 $16 $100 $186 $16,120 6.197% $795 $15,325 $3,211 $12,114 In Finance, not Electric and also does
water/wastewater/solid waste
Sacramento Municipal Utility
District
Manager, Account
Management and Sales $11,333 $15,017 1.75% $263 $167 $0 $0 $0 $15,446 $0 $2,597 $169 $11 $7 DNA-self
funded $0 $956 $19,187 0% $0 $19,187 $2,203 $16,984
Turlock Irrigation District
Customer Service Department
Manager $10,641 $13,581 0% $0 $0 $0 $0 $0 $13,581 $42 $2,190 $133 $27 $28 $28 $0 $935 $16,964 0% $0 $16,964 $2,214 $14,750 Utility Billing, connect/disconnect, meter reading,
field collections and cashiering
$12,834 $13,581 $16,814 $14,750

4.13% -1.45% -11.83% -10.93%
$13,365 $13,829 $16,570 $14,107

0.16% -3.30% -10.20% -6.10%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 33 of 41 ends

Packet Pg. 545 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Utility Operational
Technology Engineer $6,757 $10,737 0% $0 $0 $0 $0 $0 $10,737 $1,552 inc inc inc $26 $12 $0 $156 $12,482 1% $107 $12,374 $1,740 $10,634 BA Imperial Irrigation District No Comparable Class
Modesto Irrigation District Information Security Analyst $7,933 $10,156 0% $0 $508 $0 may be
provided $0 $10,664 $0 $3,078 $159 $20 $27 $24 $0 $147 $14,118 0% $0 $14,118 $1,922 $12,196 BA Riverside
Innovation and Technology
Analyst II $6,289 $8,303 0% $0 $75 $0 $0 $0 $8,378 $0 $1,482 $45 inc $40 $0 $0 $120 $10,065 0% $0 $10,065 $2,764 $7,301 BA is one option Roseville
Electric Technology Systems
Technician $8,547 $12,026 6.197% $745 $461 $0 $0 $0 $13,232 $1,765 inc inc inc $36 $25 $100 $174 $15,332 6.197% $745 $14,587 $3,211 $11,376 AA Sacramento Municipal Utility
District
Senior Business Technology
Analyst $8,431 $11,171 1.75% $195 $167 $0 $0 $0 $11,533 $0 $2,597 $169 $11 $5 DNA-self
funded $0 $855 $15,171 0% $0 $15,171 $2,203 $12,968 No BA Turlock Irrigation District IT Software Engineer II $8,403 $10,724 0% $0 $0 $0 $0 $0 $10,724 $42 $2,190 $133 $27 $28 $25 $0 $820 $13,989 0% $0 $13,989 $2,214 $11,775 BA $10,724 $10,724 $14,118 $11,775

0.12% 0.12% -14.09% -10.73%
$10,476 $10,906 $13,586 $11,123

2.43% -1.58% -9.79% -4.60%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 34 of 41 ends

Packet Pg. 546 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Utility Operations/
Compliance Engineer $7,555 $11,934 0% $0 $0 $0 $0 $0 $11,934 $1,552 inc inc inc $26 $12 $0 $173 $13,696 1% $119 $13,577 $1,740 $11,837 PE within one year Imperial Irrigation District No Comparable Class Compliance Administrator-No PE Modesto Irrigation District Senior Electrical Engineer $10,156 $13,000 0% $0 $650 $0 $0 $0 $13,650 $0 $3,078 $159 $20 $33 $24 $0 $189 $17,152 0% $0 $17,152 $1,922 $15,230 PE Riverside No Comparable Class Utilities Senior Electrical Engineer -No PE Roseville No Comparable Class
Sacramento Municipal Utility
District No Comparable Class No PE- Principal Power Operations Engineer Turlock Irrigation District No Comparable Class
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
1 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 35 of 41 ends

Packet Pg. 547 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer
($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Utility Senior
Project Engineer $7,546 $11,988 0% $0 $0 $0 $0 $0 $11,988 $1,552 inc inc inc $26 $12 $0 $174 $13,751 1% $120 $13,631 $1,740 $11,891 PE Imperial Irrigation District No Comparable Class
Modesto Irrigation District Senior Electrical Engineer $10,156 $13,000 0% $0 $650 $0 $0 $0 $13,650 $0 $3,078 $159 $20 $33 $24 $0 $189 $17,152 0% $0 $17,152 $1,922 $15,230 PE Riverside
Utilities Senior Electrical
Engineer $9,285 $11,285 0% $0 $75 $0 $0 $0 $11,360 $0 $1,482 $45 inc $54 $0 $0 $164 $13,105 0% $0 $13,105 $2,764 $10,341 Merit Max is $12,978; PE highly desirable or may
be required as a matter of law, depending of the
assigned responsibilities
Roseville No Comparable Class Senior Power Engineer supervises Sacramento Municipal Utility
District Senior Electrical Engineer $10,023 $13,276 1.75% $232 $167 $0 $0 $0 $13,675 $0 $2,597 $169 $11 $6 DNA-self
funded $0 $930 $17,390 0% $0 $17,390 $2,203 $15,187 PE
Turlock Irrigation District Senior Electrical Engineer $10,331 $13,186 0% $0 $0 $0 $0 $0 $13,186 $42 $2,190 $133 $27 $28 $28 $0 $929 $16,563 0% $0 $16,563 $2,214 $14,349 PE $13,093 $13,418 $16,857 $14,768
-9.22% -11.93% -23.67% -24.19%
$12,687 $12,968 $16,052 $13,776
-5.83% -8.17% -17.76% -15.86%
4 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 36 of 41 ends

Packet Pg. 548 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer ($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Electric Utility Resource
Planner $6,757 $10,737 0% $0 $0 $0 $0 $0 $10,737 $1,552 inc inc inc $26 $12 $0 $156 $12,482 1% $107 $12,374 $1,740 $10,634 Imperial Irrigation District
Planner Integrated Resources,
Principal $8,492 $10,838 0% $0 $1,084 $0 $0 $0 $11,922 $0 $1,982 $0 $0 $44 $0 $0 $829 $14,777 0% $0 $14,777 $1,702 $13,075 Modesto Irrigation District Resource Planner $8,880 $11,367 0% $0 $568 $0 $0 $0 $11,935 $0 $3,078 $159 $20 $30 $24 $0 $165 $15,410 0% $0 $15,410 $1,922 $13,488 Riverside
Utilities Senior Resources
Analyst $8,680 $11,080 0% $0 $75 $0 $0 $0 $11,155 $0 $1,482 $45 inc $53 $0 $0 $161 $12,896 0% $0 $12,896 $2,764 $10,132 Journey level; merit max is $12,741 Roseville Electric Resources Planner II $9,928 $13,305 6.197% $825 $399 $0 $0 $0 $14,529 $1,765 inc inc inc $40 $16 $100 $193 $16,642 6.197% $825 $15,818 $3,211 $12,607 Sacramento Municipal Utility
District Market Risk Specialist $7,830 $10,374 1.75% $182 $167 $0 $0 $0 $10,722 $0 $2,597 $169 $11 $5 DNA-self
funded $0 $794 $14,299 0% $0 $14,299 $2,203 $12,096
Turlock Irrigation District Utility Analyst II $9,727 $12,417 0% $0 $0 $0 $0 $0 $12,417 $42 $2,190 $133 $27 $28 $28 $0 $918 $15,783 0% $0 $15,783 $2,214 $13,569 $11,224 $11,929 $15,094 $12,841
-4.53% -11.10% -21.98% -20.75%
$11,564 $12,113 $14,830 $12,494
-7.70% -12.82% -19.85% -17.49%
6 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Median
Labor Market Mean
% Redding is Above or Below Mean

Page 37 of 41 ends

Packet Pg. 549 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer ($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding Electrical Engineer $7,555 $11,934 0% $0 $0 $0 $0 $0 $11,934 $1,552 inc inc inc $26 $12 $0 $173 $13,696 1% $119 $13,577 $1,740 $11,837 PE Imperial Irrigation District Engineer II $8,492 $10,838 0% $0 $1,084 $0 $0 $0 $11,922 $0 $1,982 $0 $0 $44 $0 $0 $829 $14,777 0% $0 $14,777 $1,702 $13,075 PE Modesto Irrigation District No Comparable Class Associate Electrical Engineer-PE desired Riverside No Comparable Class No PE
Roseville Power Engineer II $9,555 $13,444 6.197% $833 $503 $0 $0 $0 PE pay added
to base $14,781 $1,765 inc inc inc $40 $25 $100 $195 $16,906 6.197% $833 $16,073 $3,211 $12,862 5% added to base pay for PE Sacramento Municipal Utility
District No Comparable Class
Associate Electrical Engineer-Journey- PE is now
desired
Turlock Irrigation District Associate Electrical Engineer $9,372 $11,958 0% $0 $0 $0 $0 $0 $11,958 $42 $2,190 $133 $27 $28 $28 $0 $911 $15,317 0% $0 $15,317 $2,214 $13,103 PE $11,958 $11,958 $15,317 $13,075
-0.20% -0.20% -12.82% -10.46%
$12,080 $12,887 $15,389 $13,013
-1.22% -7.98% -13.35% -9.94%
3 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Median
Labor Market Mean
% Redding is Above or Below Mean

Page 38 of 41 ends

Packet Pg. 550 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer ($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding
Energy Services Account
Manager $5,549 $8,805 0% $0 $0 $0 $0 $0 $8,805 $1,552 inc inc inc $22 $12 $0 $128 $10,518 1% $88 $10,430 $1,740 $8,690 Imperial Irrigation District
Manager Energy Regulatory
and Strategy Marketing $10,872 $13,876 0% $0 $1,388 $0 $0 $0 $15,264 $0 $1,982 $0 $0 $57 $0 $0 $939 $18,241 0% $0 $18,241 $1,702 $16,539 No job description Modesto Irrigation District Major Account Representative $8,452 $10,819 0% $0 $541 $0 $0 $0 $11,360 $0 $3,078 $159 $20 $29 $24 $0 $157 $14,826 0% $0 $14,826 $1,922 $12,904 Riverside
Utilities Principal Program
Services Representative $7,173 $9,609 0% $0 $75 $0 $0 $0 $9,684 $0 $1,482 $45 inc $46 $0 $0 $139 $11,396 0% $0 $11,396 $2,764 $8,632 Roseville Key Account Representative $9,539 $12,783 6.197% $792 $383 $0 $0 $0 $13,959 $1,765 inc inc inc $38 $16 $100 $185 $16,063 6.197% $792 $15,271 $3,211 $12,060 Sacramento Municipal Utility
District Strategic Account Advisor II $7,453 $9,871 1.75% $173 $167 $0 $0 $0 $10,210 $0 $2,597 $169 $11 $5 DNA-self
funded $0 $755 $13,748 0% $0 $13,748 $2,203 $11,545
Turlock Irrigation District No Comparable Class
$10,819 $11,360 $14,826 $12,060
-22.87% -29.02% -42.15% -38.79%
$11,392 $12,095 $14,696 $12,336
-29.38% -37.37% -40.91% -41.96%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); % Redding is Above or Below Median
Labor Market Median
# Of Comparable Matches
Labor Market Mean
% Redding is Above or Below Mean

Page 39 of 41 ends

Packet Pg. 551 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer ($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding GIS Manager $6,570 $9,849 0% $0 $0 $0 $0 $0 $9,849 $1,552 inc inc inc $24 $12 $0 $143 $11,579 1% $98 $11,481 $1,740 $9,741 Imperial Irrigation District No Comparable Class
Modesto Irrigation District No Comparable Class
Riverside No Comparable Class
Roseville No Comparable Class
Sacramento Municipal Utility
District GIS Manager $9,539 $12,634 1.75% $221 $167 $0 $0 $0 $13,022 $0 $2,597 $169 $11 $6 DNA-self
funded $0 $921 $16,727 0% $0 $16,727 $2,203 $14,524
Turlock Irrigation District No Comparable Class
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
Insuff Data Insuff Data Insuff Data Insuff Data
--- --- --- ---
1 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); # Of Comparable Matches
Labor Market Median
% Redding is Above or Below Mean
Labor Market Mean
% Redding is Above or Below Median

Page 40 of 41 ends

Packet Pg. 552 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) City of Redding
Electric Department
Total Compensation Study
8/2021
New Hires, Yet Classic Members
Agency Classification
Minimum
Base Salary
Maximum
Base Salary
Employee's
Portion of
Retirement
Paid by the
Employer
(%)
Employee's
Portion of
Retirement
Paid by the
Employer ($)
Deferred
Compensation
Longevity
pay at 10
Years
Auto
Allowance
Certification/
Education
Pay
Certification/
Education
Pay Notes Total Cash
Cafeteria
Plan
Health
(Most
Expensive
Plan) Dental Vision
Life
Insurance
LTD
Insurance RHSA
Social
Security/
Medi-Care Total Comp
Employer's
Portion of
Retirement
Paid by the
Employee
(%)
Employer's
Portion of
Retirement
Paid by the
Employee
($)
Total
Compensation
minus ER
portion of
retirement paid
by EE
Estimated
Monthly
Housing
Payment*
Total
Compensation
minus Housing
Payment Comments
Redding Senior Electrical Engineer $8,082 $12,761 0% $0 $0 $0 $0 $0 $12,761 $1,552 inc inc inc $26 $12 $0 $185 $14,535 1% $128 $14,407 $1,740 $12,667 PE Imperial Irrigation District No Comparable Class
Modesto Irrigation District Senior Electrical Engineer $10,156 $13,000 0% $0 $650 $0 $0 $0 $13,650 $0 $3,078 $159 $20 $33 $24 $0 $189 $17,152 0% $0 $17,152 $1,922 $15,230 PE Riverside
Utilities Senior Electrical
Engineer $9,285 $11,285 0% $0 $75 $0 $0 $0 $11,360 $0 $1,482 $45 inc $54 $0 $0 $164 $13,105 0% $0 $13,105 $2,764 $10,341 Merit Max is $12,978; PE highly desirable or may
be required as a matter of law, depending of the
assigned responsibilities
Roseville Senior Power Engineer $11,666 $15,634 6.197% $969 $469 $0 $0 $0 $17,072 $1,765 inc inc inc $47 $16 $100 $227 $19,226 6.197% $969 $18,258 $3,211 $15,047 PE Sacramento Municipal Utility
District Senior Electrical Engineer $10,023 $13,276 1.75% $232 $167 $0 $0 $0 $13,675 $0 $2,597 $169 $11 $6 DNA-self
funded $0 $930 $17,390 0% $0 $17,390 $2,203 $15,187 PE
Turlock Irrigation District Senior Electrical Engineer $10,331 $13,186 0% $0 $0 $0 $0 $0 $13,186 $42 $2,190 $133 $27 $28 $28 $0 $929 $16,563 0% $0 $16,563 $2,214 $14,349 PE $13,186 $13,650 $17,152 $15,047
-3.33% -6.97% -19.05% -18.78%
$13,276 $13,789 $16,493 $14,031
-4.04% -8.05% -14.48% -10.76%
5 Data effective as of 8/2021
*Estimated monthly housing payment - based on median cost of house using $50,000 down, excellent credit and 30 year loan; Source- Mortgage Calculator from Bank of America (as conducted in past salary studies); % Redding is Above or Below Median
Labor Market Median
# Of Comparable Matches
Labor Market Mean
% Redding is Above or Below Mean

Page 41 of 41 ends

Packet Pg. 553 Attachment: Bryce Data_REU (available online) (9.1(e)--Unrepresented Salary Schedule) 2022 Salary Adjustment Recommendations for Unrepresented Employees (non-Electric) Title
Max
Monthly
% Increase
Rec*
New Max
Monthly
City Manager $ 19,190 16% $ 22,326
City Attorney $ 17,569 15% $ 20,204
Chief of Police $ 16,837 13% $ 19,026
Assistant City Manager $ 13,989 25% $ 17,498
Fire Chief $ 14,775 15% $ 16,918
Director of Public Works $ 13,887 20% $ 16,665
Chief Information Officer $ 12,395 25% $ 15,496
Director of Community Services $ 12,205 24% $ 15,103
Director of Development Services $ 12,279 23% $ 15,103
Assistant City Attorney II $ 12,859 15% $ 14,788
Deputy Fire Chief $ 12,899 13% $ 14,576
Director of Finance $ 11,713 20% $ 14,056
Personnel Director $ 10,637 32% $ 14,056
Deputy City Manager $ 11,690 20% $ 14,028
Assistant Director of Public Works $ 11,451 20% $ 13,741 Assistant City Attorney I $ 10,223 31% $ 13,392
Assistant City Engineer $ 9,277 40% $ 12,988
Assistant Director of Development Services/Building Official $ 10,608 19% $ 12,623 Deputy Director of Public Works $ 11,091 13% $ 12,533
Cyber Security Officer $ 9,380 30% $ 12,193
Planning /Community Development Manager $ 10,299 17% $ 12,050 Municipal Utilities Manager $ 10,562 13% $ 11,935
Assistant Director - Community Services $ 10,562 13% $ 11,935 Finance Officer $ 10,516 11% $ 11,673
Environmental Compliance Manager $ 9,045 27% $ 11,488
Building Official $ 9,747 18% $ 11,457
Deputy City Attorney $ 8,427 33% $ 11,208
Airports Manager $ 8,879 25% $ 11,099
Housing Manager $ 8,720 24% $ 10,813
Geographic Information Systems Manager $ 9,849 7% $ 10,538 Field Foreman-Electrical Technician $ 9,747 8% $ 10,527 Personnel Manager $ 8,104 28% $ 10,374
Risk Manager $ 7,538 38% $ 10,374
Administrator - Office of City Clerk $ 8,927 15% $ 10,266 Administrator - Office of City Treasurer $ 8,927 15% $ 10,266 Equity/Economic Development/Innovation Mngr $ 9,286 9% $ 10,106 Assistant Finance Officer $ 8,878 10% $ 9,765
Parks & Facilities Manager $ 8,104 20% $ 9,725
Communication Manager $ 8,072 20% $ 9,686
Senior Personnel Analyst $ 7,179 31% $ 9,404
Assistant Airports Manager $ 7,010 32% $ 9,253
Purchasing Officer $ 7,701 15% $ 8,856
Management Assistant to the City Manager $ 7,323 15% $ 8,421 Parks Superintendent $ 7,037 15% $ 8,093
Recreation Superintendent $ 7,037 15% $ 8,093
Fleet Manager $ 6,657 20% $ 7,988
Police Services Manager $ 6,657 20% $ 7,988
Executive Assistant to the City Manager $ 6,255 5% $ 6,568 Reprographics Manager $ 5,090 29% $ 6,568
*Percentages rounded to nearest whole number

Page 1 of 1 ends

2022 Salary Adjustment Recommendations for Unrepresented Employees (Electric) Title
Max
Monthly
% Increase
Rec*
New Max
Monthly
Director of Electric Utility $ 18,741 19% $ 22,326
Assistant Director of Electric Utility $ 17,961 13% $ 20,296 Electric Manager-Engineering $ 15,864 16% $ 18,415
Electric Manager-Energy Management $ 16,296 13% $ 18,415 Electric Program Supervisor-Energy Management $ 15,463 8% $ 16,700 Electric Program Supervisor-System Operator-T&D $ 15,152 10% $ 16,700 Electric Manager-Power Plant Production $ 15,143 4% $ 15,748 Electric Manager-Financial $ 14,689 5% $ 15,496
Electric Manager-Line $ 15,143 2% $ 15,370
Electric Manager-Resources $ 15,143 2% $ 15,370
Electric Utility Manager-Customer Service and Metering $ 13,387 15% $ 15,370 Electric Manager-Compliance $ 13,387 10% $ 14,725
Senior Electrical Engineer $ 12,761 13% $ 14,420
Electric Program Supervisor-Line $ 12,519 12% $ 14,021
Electric Program Supervisor-Substation Maintenance $ 11,700 17% $ 13,689 Electric Program Supervisor-Meter Shop $ 11,700 17% $ 13,689 Electric Program Supervisor-Service Planning $ 11,258 20% $ 13,510 Electric Manager $ 12,395 6% $ 13,139
Electric Utility Operations/ Compliance Engineer $ 11,934 10% $ 13,127 Electrical Engineer $ 11,934 10% $ 13,127
Electric Program Supervisor $ 11,258 14% $ 12,839
Electric Program Supervisor-Operational Technology $ 11,921 8% $ 12,839 Electric Program Supervisor-Power Production $ 12,395 3% $ 12,767 Electric Utility Senior Project Engineer $ 11,988 6% $ 12,708 Electric Utility Resource Planner $ 10,737 10% $ 11,811 Electric Utility Operational Technology Engineer $ 10,737 10% $ 11,811 Electric Utility Engineer $ 10,226 10% $ 11,248
Electric Utility Engineering Associate $ 8,340 18% $ 9,842 Electric Utility Associate Resource Planner $ 8,757 9% $ 9,545 Energy Services Account Manager $ 8,805 7% $ 9,422
Electric Utility Engineering Assistant II $ 7,609 18% $ 8,979 Electric Utility Engineering Assistant I $ 6,910 18% $ 8,154 *Percentages rounded to nearest whole number

Page 1 of 1 ends

CITY OF REDDING

REPORT TO THE CITY COUNCIL
Recommendation
Accept the City of Redding Annual Comprehensive Financial Report for the fiscal year ended June 30, 2021.

Fiscal Impact
None
Alternative Action
The City Council can reject the Annual Comprehensive Financial Report for the fiscal year ended June 30, 2021, and provide additional direction to staff.

Background/Analysis
The audit of the City of Redding for the fiscal year that ended June 30, 2021, has been completed. The City of Redding received an unmodified opinion from the auditor, The Pun Group, LLP, a firm of Certified Public Accountants, on the report as presented. The Annual Comprehensive Financial Report (ACFR) is available for review in the City Clerk’s Office. It should also be noted that the Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement of Excellence in Financial Reporting to the City of Redding for its Comprehensive Annual Financial Report for the fiscal year ended June 30, 2020. This was the 37th consecutive year that the City of Redding has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized annual comprehensive financial report. This report must satisfy both generally accepted accounting principals (GAAP) and applicable legal requirements.

MEETING DATE: January 18, 2022
ITEM NO. 9.10(a)
FROM:
***APPROVED BY***
[email protected] [email protected]
SUBJECT: 9.10(a)--Consider acceptance of the City of Redding Annual Comprehensive Financial Report for the year ended June 30, 2021.

Allyn Feci Clark, Director of
Finance/City Treasurer
Packet Pg. 556
Report to Redding City Council January 9, 2022
Re: 9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021 Page 2 A Certificate of Achievement is valid for a period of one year only. Staff believes the current annual comprehensive financial report continues to meet the Certificate of Achievement Program requirements, and the ACFR will again be submitted for consideration for GFOA’s award program.

Council Priority/City Manager Goals
• This is a routine operational item occurring on an annual basis.

Attachments
ACFR Final - FYE June 30, 2021 (available online)
Packet Pg. 557
Annual Comprehensive Financial Report
for Fiscal Year Ended June 30, 2021
Packet Pg. 558 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) i

CITY OF REDDING

REDDING, CALIFORNIA

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2021
Prepared by:

FINANCE DEPARTMENT
Packet Pg. 559 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) ii
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Packet Pg. 560 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Introductory Section
iii
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iv
Packet Pg. 562 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Annual Comprehensive Financial Report
For the Year Ended June 30, 2021
Table of Contents
v
Page

INTRODUCTORY SECTION
Table of Contents ............................................................................................................................................................ v Transmittal Letter ........................................................................................................................................................... ix Certificate of Achievement for Excellence in Financial Reporting – GFOA ............................................................... xvi Organization Chart ..................................................................................................................................................... xvii Directory of City Officials ........................................................................................................................................ xviii

FINANCIAL SECTION
Independent Auditors’ Report on Financial Statements........................................................................................... 3 Management’s Discussion and Analysis (Required Supplementary Information – Unaudited) ........................... 7 Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position ................................................................................................................................. 28 Statement of Activities and Changes in Net Position ....................................................................................... 30 Fund Financial Statements:

Governmental Fund Financial Statements:

Balance Sheet ............................................................................................................................................. 36 Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position .............................................................................. 39 Statement of Revenues, Expenditures, and Changes in Fund Balances .................................................... 40 Reconciliation of the Governmental Statement of Revenues, Expenditures, and Changes in Fund Balances to the Government-Wide Statement of Activities and Changes in Net Position ............................................................................. 41 Proprietary Fund Financial Statements:

Statement of Net Position .......................................................................................................................... 44 Statement of Revenues, Expenses, and Changes in Net Position .............................................................. 48 Statement of Cash Flows ........................................................................................................................... 50 Fiduciary Fund Financial Statements:

Statement of Fiduciary Net Position .......................................................................................................... 56 Statement of Changes in Fiduciary Net Position ....................................................................................... 57 Notes to the Basic Financial Statements ............................................................................................................. 59 Index to Notes to the Basic Financial Statements ............................................................................................ 61 Packet Pg. 563 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Annual Comprehensive Financial Report
For the Year Ended June 30, 2021
Table of Contents (Continued)
vi
Page
FINANCIAL SECTION (Continued):

Required Supplementary Information (Unaudited):

Budgetary Principles ........................................................................................................................................... 143 Schedule of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual:

General Fund ................................................................................................................................................ 144 Schedules of Changes in Net Pension Liability and Related Ratios - Public Employees Retirement System Miscellaneous Plan (CalPERS) ....................................................... 146 Schedules of Plan Contributions - Public Employees Retirement System Miscellaneous Plan (CalPERS) .................................................................................................................... 148 Schedules of Changes in Net Pension Liability and Related Ratios - Public Employees Retirement System Safety Plan (CalPERS) .................................................................... 150 Schedules of Plan Contributions - Public Employees Retirement System Safety Plan (CalPERS) ................................................................................................................................. 152 Schedules of Changes in Net Pension Liability and
Related Ratios - Public Agency Retirement Services Enhancement Plan (PARS) ...................................... 154 Schedules of Changes in Net Pension Liability and Related Ratios - Public Employees Retirement System Miscellaneous Plan (CalPERS) ....................................................... 156 Schedules of Public Agency Retirement Services Retirement Enhancement Plan Contributions All Tiers (PARS) ................................................................................................................... 158 Schedules of Changes in Net OPEB Liability and Related Ratios ..................................................................... 160 Schedule of Contributions-OPEB ....................................................................................................................... 162 Supplementary Information:

Non-Major Governmental Funds:

Combining Balance Sheet ............................................................................................................................ 168 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances .................................... 170 Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual:

Parking Special Revenue Fund .............................................................................................................. 172 Street Maintenance Special Revenue Fund ............................................................................................ 173 Community Development Special Revenue Fund ................................................................................. 174 Housing Special Revenue Fund ............................................................................................................. 175 General Special Revenue Fund .............................................................................................................. 176 Library Special Revenue Fund .............................................................................................................. 177 General Capital Projects Fund - Major Fund ......................................................................................... 178 Non-Major Enterprise Funds:

Combining Statement of Fund Net Position ................................................................................................. 180 Statement of Revenues, Expenses, and Changes in Fund Net Position ....................................................... 183 Combining Statement of Cash Flows ........................................................................................................... 184 Internal Service Funds:

Combining Statement of Net Position .......................................................................................................... 188 Combining Statement of Activities and Changes in Net Position ................................................................ 191 Combining Statement of Cash Flows ........................................................................................................... 192 Fiduciary Funds:

Combining Statement of Fiduciary Net Position .......................................................................................... 196 Packet Pg. 564 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Annual Comprehensive Financial Report
For the Year Ended June 30, 2021
Table of Contents (Continued)
vii
Page
Other Supplementary Information:

Supplementary Information Regarding Passenger Facility Charges ......................................................................... 201 Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards and Compliance .................................................................. 202 Schedule of Passenger Facility Charges Collected and Expended and Interest Collected For the quarters ended September 30, 2020, December 31, 2020, March 31, 2021, and June 30, 2021 .................................................................................................................... 204

STATISTICAL SECTION
Index .......................................................................................................................................................................... 209 Financial Trends:

Net Position by Component – Last Ten Fiscal Years ......................................................................................... 210 Changes in Net Position – Last Ten Fiscal Years ............................................................................................... 212 Fund Balances of Governmental Funds – Last Ten Fiscal Years ....................................................................... 217 Changes in Fund Balance of Governmental Fund – Last Ten Fiscal Years ....................................................... 218 Revenue Capacity:

General Governmental Tax Revenues by Source – Last Ten Fiscal Years ........................................................ 221 Revenue Base – Own Source Revenue – Last Ten Fiscal Years ........................................................................ 222 Electric Utility Rates – Last Ten Fiscal Years .................................................................................................... 224 Principal Electric Utility Payers – Last Ten Fiscal Years ................................................................................... 227 Debt Capacity:

Ratios of Outstanding Debt by Type – Last Ten Fiscal Years ............................................................................ 228 Computation of Direct and Overlapping Debt .................................................................................................... 231 Legal Debt Margin Information – Last Ten Fiscal Years ................................................................................... 232 Wastewater Revenue Bond Coverage – Last Ten Fiscal Years .......................................................................... 234 Water Revenue Bond Coverage – Last Ten Fiscal Years ................................................................................... 236 Electric Revenue Bond Coverage – Last Ten Fiscal Years ................................................................................ 238 Demographic and Economic Information:

Demographic Statistics – Last Ten Fiscal Years ................................................................................................ 239 Principal Employers in the Greater Redding Metropolitan Area – Last Ten Fiscal Years ................................. 240 Full-Time City Budgeted Employees by Function/Program – Last Ten Fiscal Years ........................................ 241 Operating Information:

Capital Assets Statistics by Function/Program – Last Ten Fiscal Years ............................................................ 243 Operating Indicators by Function/Program – Last Ten Fiscal Years .................................................................. 244 Supplemental Historical Information:

Statement of Physical Condition of Airport Assets ............................................................................................ 249 History and Statement of Physical Condition of Electric Utility System Assets ................................................ 250 History and Statement of Physical Condition of Storm Drainage Utility System Assets ................................... 253 History and Statement of Physical Condition of Wastewater Utility System Assets ......................................... 255 History and Statement of Physical Condition of Water Utility System Assets .................................................. 258 Packet Pg. 565 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) viii
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Packet Pg. 566 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) ix
December 22, 2021
Honorable Mayor, Members of
City Council, and City Manager
City of Redding, California 96001
Honorable Members:

In accordance with State and local statutes, the City of Redding (City) hereby submits the Annual Comprehensive Financial Report for the year ended June 30, 2021. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the City. We believe that the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and result of operations of the City in accordance with generally accepted accounting principles; and that all disclosures necessary to enable the reader to gain maximum understanding of the City’s financial affairs have been made.

The Pun Group, a firm of licensed certified public accountants has issued an unmodified opinion on the City of Redding’s financial statements for fiscal year ended June 30, 2021.

GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (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.

PROFILE OF THE CITY
The City of Redding is a general law city, incorporated under the laws of the State of California in 1887. A council of five members elected at large for alternating four-year terms governs the City. The Mayor, ViceMayor, City Manager, and City Attorney are appointed by the City Council. The City Clerk and City Treasurer are also elected officials and serve four-year terms.

Redding is the county seat for Shasta County and is located on the Sacramento River approximately 160 miles north of Sacramento, the state capital, and 150 miles east of the Pacific Ocean at the northernmost end of the Sacramento Valley. The City has an estimated population of 91,715 and encompasses approximately 60 square miles within the corporate limits. Extracting timber and the processing of wood by-products; along with agriculture, tourism, medical services, and government have historically been the pillars of the local economy.

Over the past few decades, there has been a general shift toward a service-based economy.

This report includes all of the funds of the City. Financial information for separate legal entities related to the City of Redding includes the Redding Housing Authority, Redding Area Bus Authority, the Redding Joint Powers Financing Authority and the Redding Capital Services Corporation. All are accounted for in the City’s financial statements in accordance with Governmental Accounting and Financial Reporting Standards. Component unit financial reports are on file with the City. Under California State law all redevelopment agencies were dissolved.

The Redding Redevelopment Agency was dissolved on January 31, 2012 and all excess assets were transferred to, and continue to be accounted for, in a private purpose trust fund.

FINANCE DEPARTMENT
530.225.4079
FAX 530.225.4324
Packet Pg. 567 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) x

REPORTING ENTITY AND ITS SERVICES
City Council members in separate sessions serve as the governing board of the Redding Joint Powers Financing Authority and the Redding Capital Services Corporation. All five members of the City Council sit on the eightmember governing board of the Redding Area Bus Authority and the six member Housing Authority’s board.

City staff provides accounting and administrative services to all four agencies. Additional detail is provided in Note 1, Subparagraph A of the financial statements.

Redding is a full-service city. This includes public safety (police and fire), highways and streets, public improvements, planning and zoning, recreation and parks, library, airports, convention and auditorium facility, utilities (electric, water, wastewater, storm drainage, and solid waste collection and disposal), and general administrative services.

LOCAL ECONOMY
The growth and health of an area’s economy can be determined by monitoring a wide variety of indicators. Listed below are some of these indicators in the Redding area.

Population Characteristics - The City was one of the fastest growing cities in California between 1970 and 1990, growing to 66,432 residents in 1990 from 16,659 in 1970. However, lately the City’s population growth has slowed. From 2000 to 2010 the City’s population grew by an average of 1.11 percent and from 2010 to 2020 grew by an average of .35 percent. During the last year the chart below shows the City’s population decreased

2.03 percent. This is due to the nature of the data sources used, the report from the California State Department of Finance was produced before the final U.S. Census Bureau information of 2020 was published. The population reported by the U.S. Census Bureau for 2020 was 93,611 which represented a 4.17 percent increase for The City’s population represents approximately 51% of Shasta County’s population. The following table indicates population growth for the City and Shasta County from 1970 to 2021:

Year Population
Annualized
Percent
Change over
Interval Population
Annualized
Percent
Change over
Interval
1970 16,659 --- 77,640 ---
1980 41,995 9.69% 119,449 4.40%
1990 66,432 4.69% 147,036 2.10%
2000 80,865 1.99% 163,256 1.05%
2010 89,861 1.11% 177,223 0.85%
2020 * 93,611 * 0.35% * 182,155 * 0.23%
2021 91,715 -2.03% 177,797 -2.39%
* Revised
City of Redding Shasta County
Source: 1970-2020 data from U.S. Census; 2021 estimates from the California State Department of Finance as of May 1 (January 1, 2021 report).

Packet Pg. 568 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) xi
The City’s population, over the next 10 years, is projected to grow by approximately 636 an increase of approximately .7%. The Redding area is expected to maintain approximately 50% of the total Shasta County population because of a variety of factors that will support urban development, including utilities (wastewater, storm drainage, water, electric, and solid waste), employment, regional shopping, transportation services, and reduced commuting.

Housing Costs - Housing in the City is less costly than in many other urban areas in the State of California and on the West Coast. The following table sets forth the median price of housing in other urban areas of California as compared to Shasta County, in which Redding is the largest city, as of June 2021:

Region Median Home Price
Shasta County $365,000
Sacramento $525,000
Los Angeles $796,120
Orange County $1,138,000
San Francisco $1,950,000
Source: California Association of Realtors
Industry and Employment - Extracting timber and the processing of wood by-products, together with agriculture, tourism, medical services, and government, have historically been the major sectors of employment in the City. However, the City’s economic base has diversified to a regional service economy supported by retail and wholesale trade plus educational, recreational, medical, and government services for an area covering several counties.

The major non-local government employers in the City and the County include those in medical services, and retail services. Major employers in the City of Redding, their products or services, and the approximate number of their respective full-time employees as of June 2021 are listed in the following table:

Employer Product/Services Employees
Mercy Medical Center Medical Facilities/Services 1,906
Shasta County (*) County Services 1,800
City of Redding (**) City Services 800
Shasta Regional Medical Center Medical Facilities/Services 746 Redding Rancheria Casino/Redding Rancheria 733
CA Transportation Department Highways, Freeways, etc. 532 Shasta Union High School District Education 507
Shasta Community Health Medical Services 475
Wal Mart Retail 413
Shasta Community College (*) Education 407
(* ) Full –time equivalent positions. This includes employees who work outside of the City. (**) Full-time budgeted positions
Source: Derived from the Employment Development Department’s (EDD) listing of the top employers in Shasta County.

Packet Pg. 569 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) xii
According to the State Employment Development Department, the unemployment rate of the City’s metropolitan area was 6.8 percent on June 30, 2021. The following table sets forth the number and rate (expressed as a percentage) of unemployed persons living within the City’s metropolitan area for the month of June 2012 through June 2021:

Fiscal Year
Ending
June 30
Labor
Force
Unemployment
Number Rate
2012 76,030 11,012 14.5%
2013 75,061 8,972 12.0%
2014 74,813 7,204 9.6%
2015 74,189 5,806 7.8%
2016 74,408 5,237 7.0%
2017 74,089 4,358 5.9%
2018 73,795 3,778 5.1%
2019 72,829 3,502 4.8%
2020 72,305 7,226 10.0%
2021 73,899 5,041 6.8%
Source: State Department of Employment
All numbers revised annually to source.

Construction Activity - For the calendar year ending December 2020, 6,770 building permits were issued, with a total permit valuation of $169,753,251. This represents a 32% increase in the number of permits from the previous calendar year. Permit activity has been increasing steadily the past three years, likely as a result of increased construction for repairing widespread damage throughout the City caused by wildfire, snow, and hail events. Multi-family permits have increased due to increased available grant funding for affordable housing.

Commercial permits have steadily increased the last three years as well.

The following table sets forth the value and number of permits for new single and multiple family dwellings and businesses located in the City for the last four calendar years:
2017 2018 2019 2020
Single Family Units 141 114 223 205
Value Single Family* $32,687,799 $28,703,596 $65,182,744 $59,870,685 Multi-Family Units 0 0 91 4
Multi-Family Permits** 1 0 7 1
Value Multi-dwellings $0 $0 $9,220,325 $38,036,402
Number of Permits 31 8 24 37
Value Business $9,303,198 $16,747,229 $33,802,961 $35,760,718 Total Permits*** 4,303 4,010 5,147 6,770
Value Total all
Permits*** $75,755,282 $86,089,896 $163,718,973 $169,753,251 * Value of new construction only.
** Includes hotel and apartment units - "R" occupancies. *** Numbers Revised
Source: City of Redding Development Services Department

Packet Pg. 570 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) xiii
Commerce - The City is a regional center of commerce for several Northern California counties. This is evidenced by its many shopping centers and malls. Support for retail sales is derived from a retail trade area population of approximately 127,300 in the primary trade area and approximately 257,000 in the secondary trade area. The primary trade area consists of the metropolitan urban area, including the cities of Redding, Shasta Lake, Anderson, and Red Bluff. The secondary trade area consists of Shasta, Trinity, and Tehama counties.

Taxable transactions in the City were approximately $2.3 billion in calendar year 2020, a 2.64% decrease over the same period for 2019.

Taxable Taxable Transactions
Transactions Percentage
Year (in Thousands) Increase (Decrease)
2011 $1,732,786 7.30%
2012 $1,840,953 6.24%
2013 $1,924,122 4.52%
2014 $1,943,607 1.01%
2015 $1,992,806 2.53%
2016 $2,022,557 1.49%
2017 $2,118,481 4.74%
2018 $2,198,010 * 3.75%
2019 $2,332,526 * 6.12%
2020 $2,270,948 -2.64%
* Revised
Source: California Department of Tax and Fee Administration Transportation - The City enjoys a strategic location on U.S. Interstate Highway 5, the principal transportation artery running north-south from Mexico to Canada. The City is also bisected by State Highway 299 and State Route 44, key east-west transportation arteries in Northern California.

The City is served by the Union Pacific Railroad and Amtrak for rail transportation. Greyhound serves the City with bus service. United Express Airlines provides air service from Redding Municipal Airport to San Francisco and Los Angeles, California. Alaska Airlines provides air service from Redding Municipal Airport to Seattle, Washington. Avelo Airlines provides air service from Redding Municipal Airport to Burbank, California.

Redding Area Bus Authority (RABA) is the City’s multi-bus transportation system and offers thirteen different fixed routes, rural service and demand response (curb-to-curb) services. RABA had a total ridership of 348,800 over the fiscal year which is an average total monthly ridership of approximately 29,070. Ridership over the past two fiscal years has dropped due to the impacts of COVID-19.

Utilities - Electricity, solid waste collection and disposal, water, storm drainage, and wastewater services are provided by enterprise operations owned and operated by the City. Natural gas is provided by Pacific Gas and Electric Company (PG&E); basic telephone service by AT&T.

Packet Pg. 571 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) xiv
Community Services - Youth in the area attend school at one of 39 elementary schools, 9 middle/junior high schools, 16 charter schools, 1 regional occupation programs and 12 high schools. There are several higher educational institutions in the immediate area offering bachelor and master’s degrees: Chico State University Center for Regional and Continuing Education (located in the Health Science & University Center, downtown Redding), National University, Simpson University, and Shasta Bible College & Graduate School. Shasta Community College, a two-year institution, offers both day and evening courses to over 12,018 students. In addition, there are several Vocational & Technical schools offering a diverse range of programs.

The City’s parks system includes 56 developed parks and facilities, encompassing over 597 developed acres. This system includes nearly 180 acres of natural area parks, 39-plus miles of City-owned trails, and 16 special purpose facilities. Among these special purpose facilities are the Redding Civic Auditorium, which hosts cultural/performing arts programs, conferences, and conventions; the Redding Aquatic Center; the Redding Big League Dreams Sports Park; the California Soccer Park; the Senior Citizens Center; the Martin Luther King Jr.

Community Center, the Benton Dog Park; three boat ramp facilities that provide access to the Sacramento River; and almost 1,000 acres of natural open space.

The City serves as the primary medical center for Northern California. The City’s two general care hospitals serve approximately 330,000 people in Shasta, Tehama, Trinity, Siskiyou, and Lassen counties. The two largest hospitals have a total of 509 beds and employ approximately 2,652 full-time staff members. In addition, the City also has several specialized hospitals.

LONG-TERM FINANCIAL PLANNING
The City has long-range financial plans (typically ten years) for all of its major funds. On August 4, 2020 Council Policy 412 was revised to change the minimum cash reserve balance from 5% to 10%. It is the policy of the City Council that all major funds except the Electric Utility maintain a minimum of 10% of expenditures in cash reserves in all years of their financial plans. Due to the dynamic industry, it is Council policy that the Electric Utility maintains a minimum of 1.80x Debt Service Coverage (DSC) without reserves and maintains unrestricted cash reserves of 150 days of cash on hand. All of the City’s long- range financial plans meet these criteria.

ACCOUNTING SYSTEM AND BUDGETARY CONTROL
The City’s accounting records are maintained on the modified accrual basis for governmental fund types and on the accrual basis for proprietary fund types. In developing the City’s accounting system, consideration is given to the adequacy of internal accounting controls which are designed to provide reasonable, but not absolute, assurance regarding:

1. The safeguarding of assets against losses from unauthorized use or disposition.

2. The reliability of financial records for preparing financial statements and maintaining accountability of assets.

The concept of reasonable assurance recognized that the cost of a control procedure should not exceed the benefits likely to be derived and that the evaluation of costs and benefits require estimates and judgments of management.

All internal control evaluations occur within the above framework. We believe the City’s internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions.

Packet Pg. 572 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) xv
Budgetary control is maintained at the department and fund level. The City Manager may transfer appropriations between divisions within a department within a fund; however, any revision that increases total fund expenditures without providing additional revenue to cover the total expenditure must be approved by City Council.

The City utilizes the encumbrance system as a management control technique to assist in controlling expenditures.

FEDERAL GRANTS SINGLE AUDIT APPROACH
The City of Redding is required to undergo a single audit in conformity with the provisions of the Single Audit Act of 1984, U.S. Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments and Non-Profit Organizations, and the OMB’s Uniform Guidance. This report has been prepared under the “single audit” concept. Under this approach, one agency is recognized as the cognizant agency or oversight agency of the Office of Management and Budget. In the case of the City of Redding, the State of California acts as the single audit oversight agency. The financial report will be reviewed by the oversight agency for compliance with all Federal grant requirements, and notification of the results will be provided to other Federal agencies. A separate schedule of Federal financial assistance is available upon request.

As a recipient of Federal, State, and County financial assistance, the City of Redding is responsible for implementing an adequate internal control structure to ensure compliance with applicable laws and regulations related to those programs. The results of the City of Redding’s single audit for the fiscal year ended June 30, 2021, provided no instances of material weaknesses in the internal control structure or significant violation of applicable laws and regulations.

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 Redding for its Annual Comprehensive financial report (ACFR) for the fiscal year ended June 30, 2020. This was the 37th consecutive year that the government has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized Annual Comprehensive financial report.

This report must satisfy both generally accepted accounting principles and applicable legal requirements.

A Certificate of Achievement is valid for a period of one year only. We believe our current Annual Comprehensive financial report continues to meet the Certificate of Achievement Program requirements, and we are submitting it to the GFOA to determine its eligibility for another certificate.

ACKNOWLEDGMENTS
I would like to take this opportunity to thank the members of the Audit Committee and the City Council for their cooperation and support in conducting the financial operations of the City in a responsible and progressive manner. Appreciation is also expressed to all City departments who contributed information provided in this financial report and the Finance Department’s staff who made this presentation possible. It is the combined effort of all participants that resulted in the issuance of this document.

Allyn Feci Clark, CPA, CPFO
Director of Finance/City Treasurer

Packet Pg. 573 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) xvi
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Redding
California
For its Comprehensive Annual
Financial Report
For the Fiscal Year Ended
June 30, 2020
Executive Director/CEO
Packet Pg. 574 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) xvii Packet Pg. 575 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) xviii

MUNICIPAL OFFICIALS
City Council
Mayor ....................................................................................... Erin Resner Vice Mayor ....................................................................... Kristen Schreder Council Member ........................................................... Michael Dacquisto Council Member ................................................................. Mark Mezzano Council Member ...................................................................... Julie Winter Administrative Personnel
City Manager ................................................................................ Barry Tippin Assistant City Manager ........................................................... Sheri DeMaagd City Attorney ............................................................................... Barry DeWalt City Clerk .......................................................................................... Pam Mize City Treasurer ......................................................................... Allyn Feci Clark Director of Community Services ................................................... Kim Niemer Director of Development Services ......................................................... Vacant Director of Electric ........................................................................... Dan Beans Director of Financial Services ................................................ Allyn Feci Clark Director of Information Technology ..................................... Tony Van Boekel Director of Personnel ................................................................ Sheri DeMaagd Director of Public Works ......................................................... Chuck Aukland Fire Chief ....................................................................... Jerrod Vanlandingham Police Chief ................................................................................. Bill Schueller Packet Pg. 576 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Financial Section
1 Packet Pg. 577 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2 This page intentionally left blank
Packet Pg. 578 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) INDEPENDENT AUDITORS’ REPORT
To the Honorable Mayor and Members of the City Council
of the City of Redding
Redding, California
Report on Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Redding, California (the “City”), as of and for the year ended June 30, 2021, and the related notes to the basic financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents.

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

Auditors’ Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the Investment in Joint Ventures of the Transmission Agency of Northern California, which collectively represent the following percentages of assets, net position, revenues and expenses of the following opinion units:

Opinion Unit Assets Net Position Revenue
Business-type Activities 0.65% 1.09% 0.36%
Major Enterprise Fund:

Electric Utility 1.53% 3.85% 0.58%
Those statements were audited by other auditors whose reports have been furnished to us, and our opinions, insofar as they relate to the amounts included for investment in joint ventures, are based solely on the reports of the other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. 2121 North California Blvd., Suite 290,Walnut Creek, California 94596 Tel: 925-974-3394 • Fax: 949-777-8850
www.pungroup.cpa
3 Packet Pg. 579 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) To the Honorable Mayor and Members of the City Council
of the City of Redding
Redding, California

Page 2 ends

4 An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the City’s preparation and fair presentation of the financial statements 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, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Opinions
In our opinion, based on our audit and the report of other auditors, the basic financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City as of June 30, 2021, 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.

Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis on pages 7 through 24 and Budgetary Principles, Schedules of Revenues, Expenditures, and Changes in Fund Balance-Budget and Actual - General Fund, Schedules of Changes in Net Pension Liability and Related Ratios, Schedules of Plan Contributions, Schedules of Changes in Net OPEB Liability and Related Ratios, and Schedule of Contributions on pages 143 through 162 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We and other auditors 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.

Other 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 Introductory Section, Combining and Individual Non-major Fund Financial Statements and Budgetary Comparison Schedules, and Statistical Section, are presented for purposes of additional analysis and are not a required part of the basic financial statements. The Schedule of Passenger Facility Charges Collected and Expended and Interest Collected is presented for purposes of additional analysis as specified in the Passenger Facility Charge Guide for Public Agencies, issued by the Federal Aviation Administration, and is not a required part of the basic financial statements.

Packet Pg. 580 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) To the Honorable Mayor and Members of the City Council
of the City of Redding
Redding, California

Page 3 ends

5 The Combining and Individual Non-Major Fund Financial Statements, Budgetary Comparison Schedules, and Schedule of Passenger Facility Charges Collected and Expended and Interest Collected, are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such 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 and Individual Non-Major Fund Financial Statements, Budgetary Comparison Schedules, and Schedule of Passenger Facility Charges Collected and Expended and Interest Collected, are fairly stated in all material respects in relation to the basic financial statements as a whole.

The Introductory and Statistical Sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on them.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 21, 2021, 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 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 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.

Walnut Creek, California
December 21, 2021
Packet Pg. 581 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 6 This page intentionally left blank.

Packet Pg. 582 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis
For the Year Ended June 30, 2021
7 As management of the City of Redding (the City), we offer readers of the City’s financial statements this narrative overview and analysis of the financial activities of the City for the fiscal year ending June 30, 2021. The management’s discussion and analysis is designed to (a) assist the reader in focusing on significant financial issues, (b) provide an overview of the City’s financial activity, (c) identify changes in the City’s financial position (its ability to address future challenges), (d) identify any material deviations from the financial plan (approved budget), and (e) identify individual fund issues or concerns.

We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal (beginning on page ix) and the financial statements (beginning on page 25).

USING THIS FINANCIAL REPORT/OVERVIEW OF REPORT
This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements. The basic financial statements consist of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements to provide the reader further understanding of the City.

Government-wide Financial Statements
The government-wide financial statements are designed to provide the readers with a broad overview of the City’s finances, in a manner similar to a private-sector business. The government-wide financial statements consist of the following parts:

Statement of Net Position: The Statement of Net Position presents information on all of the City’s Assets and Deferred Outflows of Resources and Liabilities and Deferred Inflows of Resources with the difference reported as Net Position.

Net Position = (Assets + Deferred Outflows of Resources) – (Liabilities + Deferred Inflows of Resources)
Over time, the change in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating.

Statement of Activities: This statement presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will result in cash flow in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave).

Packet Pg. 583 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
8 Both of the government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (governmental activities), from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the City include general government, police, fire, public works, planning, recreation and culture, and community development. The business-type activities of the City include electric, water, wastewater, transportation (airport and bus), storm drainage, solid waste, and convention center. Also included in the government-wide financial statements are the Redding Housing Authority, Redding Area Bus Authority (RABA), and the Redding Joint Power Financing Authority. While these agencies are legally separate agencies, their governing boards consist entirely of City Council members or in the case of RABA, the majority of the board members are members of the City Council. They function for all practical purposes as departments of the City, and therefore have been included as an integral part of the primary government.

The government-wide financial statements can be found on pages 27-31 of this report.

Fund Financial Statements
A fund is a group of related accounts that are used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be divided into three categories as follows:

Governmental Funds: These funds are used to account for essentially the same functions reported as government activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements.

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 with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental fund balance sheet and governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The City maintains eleven individual governmental funds. Information is presented separately in the governmental fund balance sheet and in governmental fund statement of revenues, expenditures, and changes in fund balances for the General Fund and General Capital Project Fund, which are considered to be major funds.

Data from the other nine governmental funds is combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements elsewhere in this report.

The City adopts an annual appropriated budget for its General Fund. A budgetary comparison statement has been provided for the General Fund to demonstrate compliance with this budget.

The basic governmental fund financial statements can be found on pages 35-41 of this report.

Packet Pg. 584 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
9 Proprietary Funds: The City maintains two different types of proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The City uses enterprise funds to account for its Electric Utility, Water Utility, Wastewater Utility, Solid Waste Utility, Airport Fund, Storm Drainage Utility, Redding Area Bus Authority, and the Convention Center Fund.

Internal service funds are an accounting device used to accumulate and allocate costs internally among the City’s various functions. The City uses internal service funds to account for centralized activities and services performed by certain departments for other departments of the City. The City has five internal service funds: the Equipment Fund to account for all maintenance of the motorized fleet and communication system; the Information Systems Fund to account for the data processing activities of the City; the Risk Management Fund to account for the self-insurance activities of the City; the General Support Services Fund which accounts for mail, printing, records management and building maintenance activities; and the Municipal Utilities Support Fund, which accounts for the administrative management function of the municipal utilities and some public works.

Because these services predominantly benefit governmental rather than business-type functions, they have been included within government activities in the government-wide financial statements.

Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the Electric Utility, Water Utility, Wastewater Utility and Solid Waste Utility, which are considered to be major funds of the City. Data from the other enterprise funds is combined into a single aggregated presentation. The internal service funds are also combined into a single, aggregated presentation in the proprietary fund financial statements. Individual fund data for the non-major enterprise funds and internal service funds is provided in the form of combining statements elsewhere in this report.

The basic proprietary fund financial statements can be found on pages 43-53 of this report.

Fiduciary Funds: The City maintains custodial funds and a Private-purpose Trust Fund (Successor Agency to the Redding Redevelopment Agency). These funds are used to account for resources held for other parties outside the government. These funds are not reflected in the government-wide financial statement because the resources of those funds are not available to support the City’s own programs.

The basic fiduciary fund financial statements can be found on pages 55-57 of this report.

Notes to the Financial Statements: The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 59-139 of this report.

Other Information: In addition to the basic financial statements and accompanying notes, this report also presents required supplementary information, supplementary information, statistical information and certain other supplemental historical information that may be useful to the users of the City’s financial statements. This information can be found in the last four sections of this report.

Packet Pg. 585 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
10 FINANCIAL HIGHLIGHTS
Government-Wide Financial Highlights
The assets and deferred outflows of resources of the City exceeded its liabilities and deferred inflows of resources at the close of the most recent fiscal year by $723 million (See Analysis of Statement of Activities and Changes in Net Position on page 13).
 $668.7 million represents the City’s investment in capital assets, less (1) accumulated depreciation, (2) related outstanding debt used to acquire those assets, and (3) related deferred charge on refunding.  $106 million is available for the City’s ongoing obligations related to programs with external restrictions.
 ($52) million represents the unrestricted deficit and is primarily the result of the City’s unfunded pension and Other Postemployment Benefits (OPEB) obligations.  The City’s total debt decreased by $15.9 million (net of bond premiums and discount and excluding deferred charges) during the year ending June 30, 2021. The City made $15.1 million in regular scheduled debt payments.
 The City’s total net position increased by $50.5 million over the prior year:
 The $47.8 million increase in net position invested in capital assets, net of related debt, represents the change in capital expenditures less depreciation, the retirement of related long-term debt, and amortization of related deferred charge on refunding.
 The $30.4 million increase in restricted net position represents the change in resources that are subject to external restrictions on their use.
 The $27.7 million decrease in unrestricted net position is the change in resources available to fund City programs to citizens and debt obligations to creditors.

Governmental Funds Financial Highlights
The City’s governmental funds’ combined ending fund balance of $108.6 million was an increase of $19.1 million from the prior year ending fund balance of $89.5 million. Amounts available for spending include Restricted, Assigned and Unassigned Fund Balances; these totaled $101.8 million, or 93.7 percent of fund balance. Of this amount:

 $78.2 million is restricted by law or externally imposed requirements,  $10.5 million is assigned or constrained by the City Council’s ‘intent” to be used for specific purposes, but are neither restricted nor committed.
 $13 million is unassigned fund balance.

Packet Pg. 586 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
11 GOVERNMENT-WIDE FINANCIAL ANALYSIS
2021 2020 2021 2020 2021 2020
Dollar
Change
Percent
Change
Assets:

Current and Other Assets 187,603 $ 144,603 $ 262,653 $ 269,695 $ 450,256 $ 414,298 $ 35,958 $ 8.7% Capital Assets, net 337,191 325,009 534,816 516,157 872,007 841,166 30,841 3.7% Total Assets 524,794 469,612 797,469 785,852 1,322,263 1,255,464 66,799 5.3% Deferred Outflows of Resources: 37,973 42,643 32,654 33,753 70,627 76,396 (5,769) -7.6% Liabilities:

Current Liabilities 33,104 21,668 48,525 42,930 81,629 64,598 17,031 26.4% Long Term Liabilities 278,250 275,581 306,660 312,792 584,910 588,373 (3,463) -0.6% Total Liabilities 311,354 297,249 355,185 355,722 666,539 652,971 13,568 2.1% Deferred Inflows of Resources: 1,943 6,217 1,264 45 3,207 6,262 (3,055) -48.8% Net Position:

Net Investment in Capital Assets 307,598 293,562 358,579 327,302 666,177 620,864 45,313 7.3% Restricted 99,523 67,415 9,433 8,590 108,956 76,005 32,951 43.4% Unrestricted (157,650) (152,188) 105,662 127,947 (51,988) (24,241) (27,747) 114.5% Total Net Position $ 208,789 249,471 $ 473,674 $ 463,839 $ 723,145 $ 672,628 $ 50,517 $ 7.5% Governmental
Activities
Business-Type
Activities Total Total
Summary of Net Position
(in thousands)
As noted earlier, over time, increases or decreases in Net Position may serve as a useful indicator of a government’s financial position. In the case of the City, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $723.1 million at the close of the current fiscal year.

Analysis of Summary of Net Position
The City’s total net position increased by 7.5% from a year ago, increasing from $672.6 million to $723.1 million.

Net position from governmental activities increased by $40.7 million or 19.5% and net position from business activities increased by $9.8 million or 2.1%. The $50.5 million increase in net position is primarily due to changes in investment in capital assets. The negative unrestricted net position at June 30, 2021 is primarily the result of the City’s unfunded pension and OPEB obligations.

The $9.8 million increase in net position from business-type activities is primarily due to funds being accumulated for current and future capital projects, especially in the Electric Utility Fund and Wastewater Utility Fund.

Most of the City’s net position is invested in capital assets (i.e., land, buildings, utility plants, machinery, and equipment) less any related debt used to acquire those assets that is still outstanding. The City uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City’s investment in its capital assets is reported net of related debt, it should be noted that resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. The restricted net position of $106.4 million represents resources that are subject to external restrictions as to how they may be used. The remaining unrestricted net position deficit of ($52) million Packet Pg. 587 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
12 experienced a negative change of $27.7 million, or 114.5%, from the prior year. This change means less resources are available to fund the City’s ongoing obligations to its citizens and creditors. The majority of the negative unrestricted net position is primarily the result of the City’s unfunded pension and OPEB obligations. 2021 2020 2021 2020 2021 2020
Dollar
Change
Percent
Change
Revenues
Program Revenues
Charges for Services 19,302 $ 17,184 $ 246,883 $ 234,502 $ 266,185 $ 251,686 $ 14,499 $ 5.8% Operating Grants and Contributions 34,694 22,540 7,387 7,397 42,081 29,937 12,144 40.6% Capital Grants and Contributions 27,666 13,691 7,134 16,791 34,800 30,482 4,318 14.2% Total Program Revenues 53,415 81,662 261,404 258,690 343,066 312,105 30,961 9.9% General Revenues
Sales Tax 31,159 26,695 - - 31,159 26,695 4,464 16.7%
Property Tax 22,778 21,520 - - 22,778 21,520 1,258 5.8% Investment Earnings 341 1,660 457 5,947 798 7,607 (6,809) -89.5% Other 12,611 12,535 8 - 12,619 12,535 84 0.7%
Total General Revenues 62,410 66,889 465 5,947 67,354 68,357 (1,003) -1.5% Total Revenue 115,825 148,551 261,869 264,637 410,420 380,462 29,958 7.9% Expenses:

General Government 7,305 9,842 - - 7,305 9,842 (2,537) -25.8% Police 38,538 36,954 - - 38,538 36,954 1,584 4.3%
Fire 27,417 24,998 - - 27,417 24,998 2,419 9.7%
Public Works 12,782 16,133 - - 12,782 16,133 (3,351) -20.8% Planning 4,261 5,050 - - 4,261 5,050 (789) -15.6%
Recreation and Culture 11,436 12,102 - - 11,436 12,102 (666) -5.5% Community Development 10,788 10,825 - - 10,788 10,825 (37) -0.3% Interest on Long-Term Debt 1,501 1,832 - - 1,501 1,832 (331) -18.1% Electric - - 158,676 154,181 158,676 154,181 4,495 2.9% Water - - 20,163 18,748 20,163 18,748 1,415 7.5%
Wastewater - - 25,097 25,734 25,097 25,734 (637) -2.5%
Storm Drainage - - 2,530 2,314 2,530 2,314 216 9.3%
Solid Waste - - 27,349 26,605 27,349 26,605 744 2.8%
Transportation - - 11,187 11,140 11,187 11,140 47 0.4%
Convention Center - - 873 1,785 873 1,785 (912) -51.1%
Total Expenses 117,736 114,028 245,875 240,507 359,903 358,243 1,660 0.5% (1,911) 34,523 15,994 24,130 50,517 22,219 28,298 127.4% Transfers 6,159 4,266 (6,159) (4,266) - - - 0.0%
Special Item - - - - - - - 0.0%
Change in net position 2,355 40,682 9,835 19,864 50,517 22,219 28,298 127.4% Net position - beginning 206,434 208,789 463,839 443,975 672,628 650,409 22,219 3.4% Net position - ending $ 208,789 249,471 $ 473,674 $ 463,839 $ 723,145 $ 672,628 $ 50,517 $ 7.5% Increase in net position before
transfers and special item
Statement of Activities and Changes in Net Position
(in thousands)
Governmental
Activities
Business-Type
Activities Total Total
Packet Pg. 588 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
13 Analysis of Statement of Activities and Changes in Net Position Governmental Activities
Revenue Highlights
Total revenues for the governmental activities were $148.6 million. The largest component of total revenue is taxes at $65.3 million, making up 43.9% of total revenue in the governmental funds. This is consistent with the nature and purpose of governmental funds, particularly in the General Fund, where programs are largely supported by general tax revenues. The largest tax revenues received by the General Fund include sales, property, and transient occupancy.

Some of the key changes in revenues are:

Sales tax increases by 16.7% from the prior year. The $4.5 million increase is a result of the economy bouncing back from the impacts of COVID-19 on the tail end of fiscal year ending June 30, 2020. Also some of the increase is a result of the California Department of Tax and Fee Administration modifying their allocation due to expected economic downturns. As a result future quarterly payments were adjusted to reflect actual economic activity.

Additionally, the California Department of Tax and Fee Administration allowed certain businesses to delay payments of sales tax revenues for up to one year which delayed some of the payments from fiscal year ending June 30, 2020 to fiscal year ending June 30, 2021.

Property taxes increased by 5.8% from the prior year. The $1.3 million increase is reflective of the rise in property values and the related re-assessment when properties are sold.

Transient Occupancy taxes increased by 19.5% from the prior year. The $1.0 million increase is a result of the recovery of the loosening of restrictions related to COVID-19 and additional people staying in local hotels relative to the prior fiscal year. The prior fiscal year was heavily impacted by COVID-19 during March thru June.

Operating grants and contributions increased by $12.2 million primarily due to an increase in operating grants for Community Development.

Charges for services increased by $2.1 million primarily due to an increase in Planning fees of $0.7 million and an increase in Fire fees of $1.8, a decrease in General Government fees of $1.6, and increase in Community Development of $2.0 million.

Capital grants and contributions increased by $14 million primarily due to capital grants for Public Works.

Expense Highlights
Functional expenses for the year totaled approximately $114 million, a decrease of $3.7 million from the prior year. The decrease is a result of increases in Police and Fire expenditures being offset by decreases in General Government and Public Works.

The largest component of total expenses was for Public Safety (police and fire), representing $66 million or

57.8% of the total. A large portion of public safety costs are funded from general revenues, primarily taxes. In contrast, Public Works expenses, which total $12.8 million, are funded largely from restricted revenues, including gas tax and federal and state grants. These resources pay for street maintenance and improvements, street, sweeping, transportation planning and other related costs.

Packet Pg. 589 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
14 The following graphs show an illustrative picture of where the City funds come from and where they are spent.

Police

33.8%
Fire

24.0%
Public Works

11.2%
Planning

3.7%
Recreation and
Culture

10.0%
General
Government

6.4%
Interest on L/T
Debt

1.3%
Community
Development

9.5%
Expense by Source - Governmental Activities
Capital Grants and
Contributions

18.6%
Sales Tax

21.0%
Property Tax

15.3% Other Taxes

7.6%
Other

0.8%
Investment
Earnings

0.2%
Charges by Service

13.0%
Operating Grants
and Contributions

23.4%
Revenues by Source - Governmental Activities
Packet Pg. 590 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
15 Business-Type Activities
Business-type activities increased the City’s net position by $9.8 million. Key elements of this increase are as follows:
 Revenues exceed expenses for electric, water, wastewater, and storm drain as funds are being accumulated for current and future capital projects.
 Expenses exceed revenues for solid waste as a result of an increase in tonnage generated and an increased cost of green waste diversion, combined with an intentional draw down of reserves which supplemented lower rate increases in past years.
 Expenses exceed revenues for the convention center as the operating transfer from the general fund is not shown as revenue.

The following schedule shows business-type activities revenues and expenses. 2021 2020 2021 2020 2021 2020
Electric 160,224 $ 163,301 $ 158,676 $ 154,181 $ 1,548 $ 9,120 $ Water 28,401 25,716 20,163 18,748 8,238 6,968
Wastewater 32,920 31,538 25,097 25,734 7,823 5,804
Storm Drainage 3,335 2,945 2,530 2,314 805 631
Solid Waste 26,106 24,311 27,349 26,605 (1,243) (2,294) Transportation 10,155 10,620 11,187 11,140 (1,032) (520) Convention Center 264 259 874 1,785 (610) (1,526)
Investment Earnings 457 5,947 - - 457 5,947
Transfers (6,159) (4,266) - - (6,159) (4,266)
Other 8 - - - 8 -
Total 255,711 $ 260,371 $ 245,876 $ 240,507 $ 9,835 $ 19,864 $ Revenue Expense
Changes in
Net Position
Revenues, Transfers and Expenditures - Business-Type Activities (in thousands)

Packet Pg. 591 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
16 Typically business-type activities charge customers for the services provided and the related necessary capital costs. As can be seen from the above graph, charges for services make up the vast majority (94.4%) of the revenues of the business-type activities.

Analysis of the Governmental Fund Balances
Nonspendable Restricted Assigned Unassigned Total
General Fund $ 210 6,771 $ 10,525 $ 13,001 $ 30,507 $
Major Funds
Capital Projects - 7,185 - - 7,185
Other Governmental Funds 70,890 19 - - 70,909
$ 78,285 6,790 $ 10,525 $ 13,001 $ 108,601 $
Governmental Fund Balances
(in thousands)

Charges for
Services

94.4%
Investment
Earnings

0.0%
Capital Grants &
Contributions

2.7%
Operating Grants
& Contributions

2.8%
Revenues by Source - Business-Type Activities
Packet Pg. 592 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
17 Governmental Funds
The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources (modified accrual basis of accounting). Such information is useful in assessing the City’s financing requirements. In particular, total fund balance less the non-spendable portion is a useful measure of a government’s resources available for spending at the end of the fiscal year.

At June 30, 2021, the City’s governmental funds reported total fund balance of $108.6 million, an increase of $19.1 million in comparison with the prior year’s total ending fund balance. The components of total fund balance are as follows (for more information see Note 19 – Fund Balances):
 Non-spendable Fund Balance, $6.8 million are amounts that are not spendable in form, or are legally or contractually required to be maintained intact, and are made up of (1) prepaid expenses, (2) inventories, and (3) endowments. $4.7 million for fire trucks is included in prepaid expenses for fire trucks ordered but not received at fiscal year ended June 30, 2021.  Restricted Fund Balance, $78.3 million consists of amounts with constraints put on their use by creditors, grantors, contributors, laws, regulations or enabling legislation. Examples of restrictions on funds are those for (1) purpose of fund, (2) reserves associated with issued bonds, and (3) grants for capital outlay.
 Assigned Fund Balance, $10.5 million are resources that are set aside for a particular purpose, and are made up of amounts that reflect resources for specific purposes such as (1) encumbrances, and (2) future expenditures/contingencies.
 Unassigned Fund Balance, $13 million represents the residual balance for the City’s governmental funds.

General Fund
The General Fund is the chief operating fund of the City. At June 30, 2021, unassigned fund balance was $13 million. As a measure of the General Fund’s liquidity, it may be useful to compare both unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance represents 14.9% of the total General Fund expenditures, while total fund balance represents 34.9% of total General Fund expenditures.

The fund balance of the City’s General Fund increased by $8.2 million during the year ended June 30, 2021.

General Fund revenues increased $6.8 million, and expenditures increased by $4.5 million from fiscal year-end 2020 to 2021. The increase in revenue was primarily due to increases in property tax revenue of $1.5 million (7.2%) and increases in sales tax revenues of $4.4 million (16.6%) and increases in other tax revenue of 2.9 million (34.6%). Tax rates were not changed during the year.

The $4.5 million increase in expenditures is primarily due to an increases in Public Safety expenditures of $4.3 million.

Other financing sources increased by $5.5 million. This is primarily due to an increase in net transfers of $6.2 million and offset due to a reduction of gains on sale of assets of $.7 million.

Packet Pg. 593 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
18 Capital Project Fund
The Capital Project Fund accounts for the financing and construction activities of the City. On June 30, 2021, the restricted fund balance was $7.2 million. Restricted fund balance represent 38.1% of the total Capital Project Funds expenditures.

The fund balance of the City’s Capital Project Fund decreased $5.2 million during the year ended June 30, 2021 primarily due to an increase in capital outlay.

Capital Project Fund revenues increased $7.7 million and expenditures increased $3.4 million. The increase in revenue was primarily due to an increase in intergovernmental grant revenue for capital projects and the increase in expenditures was the result of increased construction project activity.

General Fund Capital Projects Fund
2021 2020
Dollar
Change
Percent
Change 2021 2020
Dollar
Change
Percent
Change
Total Revenue 84,328 $ 77,487 $ 6,841 $ 8.8% 14,403 $ 6,676 $ 7,727 $ 115.7% Total Expenditures 87,367 82,891 4,476 5.4% 18,854 15,452 3,402 22.0% Excess (Deficiency)
of Revenues (3,039) (5,404) 2,365 -43.8% (4,451) (8,776) 4,325 -49.3% Other Financing
Sources (Uses) 11,201 5,687 5,514 97.0% (709) 3,536 (4,245) -120.1% Net Change in Fund
Balance 8,162 283 7,879 2784.1% (5,160) (5,240) 80 -1.5% Fund Balance
Beginning of Year 22,345 22,062 283 1.3% 12,345 17,585 (5,240) -29.8% End of Year 30,507 $ 22,345 $ 8,162 $ 36.5% 7,185 $ 12,345 $ (5,160) $ -41.8% Summary of Revenues, Expenditures, and Changes in Fund Balances (in thousands)
Governmental Funds
Packet Pg. 594 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
19 Analysis of Proprietary Funds
Proprietary Funds: The City’s proprietary funds provide the same type of information found in the governmentwide financial statements, but in more detail. The following schedule shows the changes in net position of the major proprietary funds and restricted and unrestricted portions of net position of the major proprietary funds of the City.

Net Position
July 1, 2020
Changes in
Net Position
Net Position
June 30, 2021
Electric Utility 138,821 $ (5,305) $ 133,516 $
Water Utility 105,721 $ 8,584 $ 114,305 $
Wastewater Utility 146,145 $ 7,490 $ 153,635 $
Solid Waste Collection/Disposal 20,624 $ (64) $ 20,560 $ Changes in Net Position - Major Proprietary Funds
(in thousands)

Net
Investment in
Capital Assets
Restricted Net
Position
Unrestricted
Net Position
Total Net
Position
Electric Utility 80,244 $ - $ 53,272 $ 133,516 $
Water Utility 69,865 $ 2,536 $ 41,904 $ 114,305 $
Wastewater Utility 123,851 $ 3,488 $ 26,296 $ 153,635 $ Solid Waste Collection/Disposal 20,245 $ - $ 315 $ 20,560 $ Net Position - Restricted and Unrestricted
Major Proprietary Funds as of June 30, 2021
(in thousands)

The factors affecting the above changes in net position and other factors regarding the proprietary funds have already been addressed in the discussion of the City’s business-type activities

Packet Pg. 595 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
20 General Fund Budgetary Highlights
The City adopts two one-year budgets every other year. The fiscal year ending June 30, 2021, was the second year of the two-year budget process. Differences between the original General Fund budget and the amended General Fund budget expenditures are shown below:

Original Amended
Increase
(Decrease)
General Government $ 8,443 6,994 $ 1,449 $
Public Safety:

Police 33,207 37,685 4,478
Fire Safety 21,921 28,701 6,780
Public Works 16,911 10,388 6,523
Planning 5,723 4,594 1,129
Recreation and culture 8,017 6,770 1,247
Principal payments 1,594 1,944 (350)
Interest payments and bond costs 1,031 1,067 (36)
Total Expenditures $ 108,105 86,885 $ 21,220 $
General Fund Original and Amended Budget
(in thousands)
As shown in the previous table, the General Fund’s original budget was amended up by $21 million or approximately 24%. The reasons for this increase are as follows:
 The Police budget increased by $4.5 million due to grants and grant type agreements approved and received after the budget was originally adopted. It is the City policy not to include grant expenditures in the original adopted budget if grant approval has not been finalized. These grants were for traffic enforcement, police officers and school resource officers along with other Police related activities.
 The Fire budget increased by $6.7 million primarily due to mutual aid provided to Cal Fire and $4.7 million for fire trucks.
 The Public Works budget increased by $6.5 million due to grant funding for street overlay and other street projects.
 The City does not include rolling stock appropriations in its original budget. It is a Council policy to maintain a rolling stock fund separate from the General Fund from which departments, with the City Manager approval, can transfer funds to the General Fund and amend the adopted budget for the transfers. During the year departments’ budgets were increased by $1.3 million due to these rolling stock transfers.

Capital Asset and Debt Administration
Capital Assets
The City’s investment in capital assets for its governmental and business-type activities as of June 30, 2021, totaled $872 million (net of accumulated depreciation). This investment in capital assets includes land, buildings, utility plants, collections, generation, distributions and transmissions systems, improvements, machinery and equipment, park facilities, roads, and bridges. The City’s total investment in capital assets for the current year increased by $30.8 million, Investment in capital assets for governmental activities increased $12.1 million or

3.7% and business-type activities increased $18.7 million or 3.6%.

Packet Pg. 596 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
21 Major capital asset events during the current fiscal year included the following:
 Developers added an estimated $11.4 million of water, wastewater, electric, storm drainage improvements, parks, streets, sidewalks and traffic signals.  Electric Utility added $5.9 million on system improvements, $3.6 million on SB901 Tech Solutions and $.9 million on vehicles.
 The City added $3.7 million on downtown street circulation, $2.4 million on the Diestlehorst to Downtown bike and pedestrian pathway, $1.7 million on Hartnell Pedestrian Improvements, $2.2 million on the Sharon/Acid Bridge Churn Creek Interchange, and $2 million on Soccer Park Turf.  Water Utility added $6.6 million on water line replacement projects, and $0.5 million on the pump house replacement.
 Wastewater utility added $1.0 million on the Churn Creek Sewer and $7.7 million on line replacement projects.
 Solid Waste added $1.8 million on vehicles.
 The City deleted $0.2 million in land, building, and improvements due to property sales and $2.2 million in vehicles.

Balance Balance Dollar Percent
July 1, 2021 June 30, 2020 Change Change
Governmental Activities:

Capital assets, not being depreciated
Land 36,322 34,044 2,278 6.7%
Construction in Process 32,413 21,377 11,036 51.6%
Capital assets, being depreciated
Buildings 26,737 28,753 (2,016) -7.0%
Improvements other than buildings 35,495 33,577 1,918 5.7% Infrastructure 199,967 201,057 (1,090) -0.5%
Automotive equipment 4,519 4,181 338 8.1%
Furnishings and equipment 1,739 2,021 (282) -14.0%
Governmental activities capital assets, net $ 325,009 337,192 $ 12,182 $ 3.7% Business-Type Activities:

Capital assets, not being depreciated
Land 20,127 20,265 (138) -0.7%
Construction in Process 36,015 10,262 25,753 251.0%
Capital assets, being depreciated
Utility plants 391,676 396,152 (4,476) -1.1%
Buildings 30,986 32,724 (1,738) -5.3%
Improvements other than buildings 24,806 26,390 (1,584) -6.0% Automotive equipment 21,519 19,910 1,609 8.1%
Furnishings and equipment 9,687 10,454 (767) -7.3%
Business-Type activities capital assets, net $ 516,157 534,816 $ 18,659 $ 3.6% Total Entity-wide Capital Assets $ 841,166 872,008 $ 30,842 $ 3.7% See Note 5 to the Financial Statements for additional information regarding capital assets.

Changes in Capital Assets, net Depreciation
(in thousands)
Packet Pg. 597 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
22 Long Term Debt
The following schedule shows the changes in long-term debt for the year not including bond discounts and bond premiums (amounts are in thousands).

Balance
June 30, 2020
Additions/
Transfers Reductions
Balance
June 30, 2021
Governmental Activities:

Capital leases payable - $ - $ - $ - $
Lease revenue bonds 31,448 - 1,854 29,594
Total Government Activities 31,448 - 1,854 29,594
Business-Type Acitivities
State loan payable 64,801 - 63,589 1,212
Revenue bonds 118,722 52,420 12,826 158,316
Total Business-Type Activities 183,523 52,420 76,415 159,528 Total outstanding long-term debt 214,971 $ 52,420 $ 78,269 $ 189,122 $ Changes in Long Term Debt
(in thousands)
The City’s total debt decreased by $25.8 million (net of bond premiums and discounts excluding deferred charges) during the fiscal year ending June 30, 2021. The City made $15.1 million in regular scheduled debt payments. The Wastewater department issued bonds of $52.4 million, which advanced refunded $63.1 million state revolving loans resulting in a savings of interest costs to the ratepayers.

Currently, the City’s legal debt margin is $260 million. However, this relates only to general obligation type bonds. Other factors such as available revenues, special assessment pledges, etc. will affect the City’s actual capacity to issue future debt.

Additional information on the City’s long-term debt can be found in Note 9 on pages 86-91 of this report.

Packet Pg. 598 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
23 Deferred Outflows of Resources & Deferred Inflows of Resources Deferred Outflows of Resources
This classification balance, although similar to “assets,” is set apart because these items do not meet the technical definition of being a City asset on the date of these financial statements. In other words, these amounts are not available to pay liabilities in the way assets are available. When all the recognition criteria are met, the deferred outflow of resources will become an expense/expenditure.

There are two primary components of the deferred outflows as reported. The first component is related to the implementation of GASB Statement No. 68 and GASB Statement No. 71 for pension liability reporting. GASB 71 requires that contributions made during the fiscal year to the retirement system be reported as deferred outflows of resources. Other potential deferred outflows of resources are attributable to the various components that impact pension changes and can include investment earnings, changes due to actuarial assumptions, and differences between expected or actual experience.

The second component of the deferred outflows of resources is related to the implementation of GASB Statement 75 for Other Post Employment Benefits (OPEB). GASB 75, much like GASB 68 and 71, requires the recognition of deferred outflows of resources. The deferred outflows of resources are attributable to the various components that impact OPEB liability and can include contributions made after the measurement date (current year contributions), investment earnings, changes due to actuarial assumptions, and the difference between expected and actual experience.

Deferred Inflows of Resources
Deferred inflows of resources are the counterpart to deferred outflows of resources on the Statement of Net Position. Deferred inflows of resources are not technically liabilities of the City as of the date of the financial statements. When all the recognition criteria are met, the deferred inflow of resources will become revenue or an increase to net position.

Deferred inflows of resources can also be impacted by the implementation of GASB 68 for pension liability reporting and GASB 75 for OPEB. Deferred inflows of resources related to pensions represent the net amount attributable to the various components that impact pension changes, and can include investment earnings, changes due to actuarial assumptions, and differences between expected or actual experience. Deferred inflows related to OPEB can include the same components.

Additional information pertaining to deferred outflows and inflows for pensions and OPEB can be found in notes 17 and 18.

Economic Factors and Next Year’s Budgets and Rates
 The City of Redding has experienced an increase in population since 2010 of less than one percent per year while the unemployment rate has decreased from 16.2% in 2010 to 6.8% in 2021.  Inflationary trends in the region compare favorably to national indices.

Packet Pg. 599 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Management’s Discussion and Analysis (Continued)
For the Year Ended June 30, 2021
24  Overall tax revenue for the City’s General Fund increased by $8.6 million during the year. This was primarily due to the increases in sales tax ($4.5 million), property tax ($1.3 million), cannabis tax ($1.2 million), and transient occupancy tax ($1.0 million). The City budgeted sales tax revenue to increase by

4.5% in fiscal year 2021-22. Property tax revenue is budgeted to increase by 4.5% in fiscal year 2021-22.  Building activity in the City continues to recover from the economic downturn and the City is anticipating that it will continue to improve during the fiscal year 2021-22.  The economy is expected to continue to recover in fiscal year 2021-22.

All of these factors were considered in preparing the City’s budget for the 2021-22 fiscal year.

During the current fiscal year fund balance in the General Fund increased by $8.2 million to $30.5 million. The City of Redding has a City Council policy that requires major funds, including the General Fund, to prepare and maintain 10-year financial plans that maintain a minimum 10% cash reserve for all years of the plan. The City Council passed a 10-year Financial Plan on June 15, 2021 which maintains this standard for all years. The fund balance is different than cash, which is used as the basis of measurement for the City Council policy (see Note 1 for definitions of fund balance and cash). Any changes to fund balance associated with changes in cash will be analyzed and updated with future revisions to the City of Redding General Fund 10-year plan.

The Electric, Water, Wastewater, and Solid Waste rates will increase either as approved by City Council or at rates proposed to City Council. The current rates for Water, Wastewater and Solid Waste were adopted by City Council on February 4, 2020. The Electric Department will be holding rate hearings during Fiscal Year 2021-22 to evaluate potential rate changes.

Request for Information
This financial report is designed to provide a general overview of the City’s finances for all those with an interest in the government’s finances. This report can be found on the City of Redding website, www.cityofredding.org under Departments, under Finance Department. Questions concerning any information provided in this report or request for additional financial information should be directed to:

The City of Redding - Finance Department
777 Cypress Avenue
Redding, CA 96001
Packet Pg. 600 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Basic Financial
Statements
25 Packet Pg. 601 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 26 This page intentionally left blank
Packet Pg. 602 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021)

GOVERNMENT-WIDE

FINANCIAL STATEMENTS
27 Packet Pg. 603 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Governmental Business-Type
Activities Activities Total
ASSETS
Current assets:

Cash and investments 68,155,239 $ 201,296,678 $ 269,451,917 $ Receivables:

Interest 4,433,808 396,692 4,830,500
Accounts, net 5,129,518 27,280,046 32,409,564
Taxes 7,360,632 - 7,360,632
Intergovernmental 17,859,707 2,774,238 20,633,945
Notes 55,599,390 133,368 55,732,758
Special assessments 317,183 - 317,183
Other 518,879 - 518,879
Inventories 459,361 10,575,287 11,034,648
Prepaid items 6,505,198 1,944,806 8,450,004
Deposits - 61,750 61,750
Total current assets 244,462,865 166,338,915 410,801,780 Noncurrent assets:

Internal balances 14,452,218 (14,452,218) -
Restricted assets:

Cash and investments 6,811,641 13,788,667 20,600,308
Interest receivable 31 - 31
Power acquisition costs, net - 137,352 137,352
Capital assets:

Land and construction in progress 68,734,753 56,142,302 124,877,055 Other capital assets, net of depreciation 268,456,768 478,673,562 747,130,330 Investment in JPA - 5,146,786 5,146,786
Storage base gas - 13,570,000 13,570,000
Total noncurrent assets 553,006,451 358,455,411 911,461,862 Total assets 797,469,316 524,794,326 1,322,263,642

DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding 265,391 8,381,768 8,647,159 Deferred outflows related to other post employement benefits 9,3 6,817,678 30,577 16,148,255 Deferred outflows related to pensions 28,377,063 17,454,222 45,831,285 Total deferred outflows of resources 32,653,668 37,973,031 70,626,699 (Continued)
See accompanying Notes to the Basic Financial Statements.

City of Redding
Statement of Net Position
June 30, 2021
Primary Government
28 Packet Pg. 604 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Governmental Business-Type
Activities Activities Total

LIABILITIES
Current liabilities:

Accounts payable 4,063,899 12,613,916 16,677,815
Accrued liabilities 4,047,412 3,171,059 7,218,471
Intergovernmental payable 985,396 3,949,710 4,935,106
Accrued interest payable 368,860 646,489 1,015,349
Unearned revenue 13,313,730 1,980,920 15,294,650
Deposits 185,493 8,465,165 8,650,658
Accounts payable from restricted assets 8,827 - 8,827
Landfill closing costs, due within one year - 169,960 169,960 Claims and judgements payable, due within one year 4,063,710 - 4,063,710 Compensated absences, due within one year 3,984,718 2,653,836 6,638,554 Long-term debt, due within one year 2,081,669 14,874,242 16,955,911 Total current liabilities 48,525,297 33,103,714 81,629,011 Noncurrent liabilities:

Intergovernmental payable, due in more than one year 467,509 - 467,509 Landfill closing costs, due in more than one year - 2,220,280 2,220,280 Claims and judgements payable, due in more than one year 12,551, - 500 12,551,500 Accrued compensated absences, due in more than one year 8,276,62 5,738,930 6 14,015,556 Long-term debt, due in more than one year 30,469,736 170,083,697 200,553,433 Aggregate other post employment benefits liability 23,480,767 17,156,952 40,637,719 Aggregate net pension liability 203,003,889 111,460,084 314,463,973 Total noncurrent liabilities 306,659,943 278,250,027 584,909,970 Total liabilities 355,185,240 311,353,741 666,538,981

DEFFERED INFLOWS OF RESOURCES
Deferred inflows related to other post employment benefits 1,372 1,003,014 ,715 2,375,729 Deferred inflows related to pensions 570,448 260,546 830,994 Total deferred inflows of resources 1,263,560 1,943,163 3,206,723

NET POSITION
Net investment in capital assets 307,597,872 358,579,485 666,177,357 Restricted for:

Capital outlay - 9,433,039 9,433,039
Debt service 820,054 - 820,054
Housing 18,663,393 - 18,663,393
Community development 45,877,675 - 45,877,675
Public works 23,574,773 - 23,574,773
Public safety 865,071 - 865,071
Community services 9,103,232 - 9,103,232
Other 619,141 - 619,141
Total restricted 99,523,339 9,433,039 108,956,378
Unrestricted (deficit) (157,650,758) 105,661,660 (51,989,098) Total net position $ 473,674,184 249,470,453 $ 723,144,637 $ (Concluded)
See accompanying Notes to the Basic Financial Statements.

Primary Government
City of Redding
Statement of Net Position (Continued)
June 30, 2021
29 Packet Pg. 605 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Operating Capital Total
Charges for Grants and Grants and Program
Functions / Programs Expenses Services Contributions Contributions Revenues Primary Government:

Governmental activities:

General government $ 5,427,109 7,305,048 $ 1,050,139 $ - $ 6,477,248 $ Police 1,559,986 38,537,805 1,554,169 80,691 3,194,846
Fire 2,399,342 27,416,745 5,000 370,945 2,775,287
Public works 822,537 12,781,403 9,354,060 22,949,413 33,126,010 Planning 4,917,418 4,261,253 247,067 - 5,164,485
Recreation and culture 1,960,395 11,436,375 2,464,470 4,264,871 8,689,736 Community development 2,215,014 10,788,241 20,019,065 - 22,234,079 Interest on long-term debt 1,501,079 - - - -
Total Governmental Activities 19,301,801 114,027,949 34,693,970 27,665,920 81,661,691 Business-Type Activities:

Electric 158,675,983 158,263,003 10,835 1,950,229 160,224,067 Water 26,431,076 20,163,278 1,062,722 907,314 28,401,112 Wastewater 30,841,837 25,097,221 1,167,190 910,861 32,919,888 Storm drainage 2,529,827 1,687,242 - 1,647,823 3,335,065 Solid waste 27,348,763 26,017,505 88,873 - 26,106,378
Transportation 11,187,003 3,379,397 5,057,465 1,717,888 10,154,750 Convention center 873,731 263,432 - - 263,432
Total Business-Type Activities 246,883,492 245,875,806 7,387,085 7,134,115 261,404,692 Total Primary Government $ 266,185,293 359,903,755 $ 42,081,055 $ 34,800,035 $ 343,066,383 $ (Continued)
See accompanying Notes to the Basic Financial Statements.

City of Redding
Statement of Activities and Changes in Net Position
For the Year Ended June 30, 2021
Program Revenues
30 Packet Pg. 606 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Governmental Business-Type
Functions / Programs Activities Activities Total
Primary Government:

Governmental activities:

General government $ - (827,800) $ (827,800) $
Police - (35,342,959) (35,342,959)
Fire - (24,641,458) (24,641,458)
Public works - 20,344,607 20,344,607
Planning - 903,232 903,232
Recreation and culture - (2,746,639) (2,746,639)
Community development - 11,445,838 11,445,838
Interest on long-term debt (1,501,079) - (1,501,079)
Total Governmental Activities - (32,366,258) (32,366,258) Business-Type Activities:

Electric - 1,548,084 1,548,084
Water 8,237,834 - 8,237,834
Wastewater 7,822,667 - 7,822,667
Storm drainage - 805,238 805,238
Solid waste - (1,242,385) (1,242,385)
Transportation - (1,032,253) (1,032,253)
Convention center - (610,299) (610,299)
Total Business-Type Activities 15,528,886 - 15,528,886
Total Primary Government 15,528,886 (32,366,258) (16,837,372) General Revenues and Transfers:

Taxes:

Property taxes, levied for general purpose 22,777,902 - 22,777,902 Transient occupancy taxes 6,222,974 - 6,222,974
Sales taxes 31,159,466 - 31,159,466
Motor vehicle taxes 67,288 - 67,288
Franchise taxes 1,190,714 - 1,190,714
Other taxes 3,931,465 - 3,931,465
Total taxes 65,349,809 - 65,349,809
Investment income (loss) 340,588 457,322 797,910
Other 147,175 7,938 155,113
Gain on sale of assets 1,050,911 - 1,050,911
Transfers (6,158,816) 6,158,816 -
Total General Revenues and Transfers (5,693,556) 73,047,299 67,353,743 Change in Net Position 9,835,330 40,681,041 50,516,371
Net Position:

Beginning of Year 208,789,412 463,838,854 672,628,266
End of Year 249,470,453 $ 473,674,184 $ 723,144,637 $
(Concluded)
See accompanying Notes to the Basic Financial Statements.

City of Redding
Statement of Activities and Changes in Net Position (Continued) For the Year Ended June 30, 2021
and Changes in Net Position
Net (Expenses) Revenues
31 Packet Pg. 607 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
32 Packet Pg. 608 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021)

FUND FINANCIAL STATEMENTS
Governmental Fund Financial Statements
Proprietary Fund Financial Statements
33 Packet Pg. 609 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
34 Packet Pg. 610 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021)

GOVERNMENTAL FUND

FINANCIAL STATEMENTS
General Fund – This fund is the general operating fund of the City which accounts for all financial resources except those required to be accounted for in another fund.

General Capital Projects Fund – This fund was established to account for the financing and construction activities of the general government.
35 Packet Pg. 611 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) General Non-Major Total
General Capital Projects Governmental Governmental
Fund Fund Funds Funds
ASSETS
Cash and investments 32,744,836 $ 2,127,305 $ 16,280,892 $ 51,153,033 $ Accounts receivable, net 1,812,544 3,178,065 25,154 5,015,763 Intergovernmental receivable 692,729 15,630,225 1,536,753 17,859,707 Interest receivable 37,124 4,168 4,365,073 4,406,365
Taxes receivable 7,360,632 - - 7,360,632
Other receivable 486,518 - 32,361 518,879
Due from other funds 1,783,484 - - 1,783,484
Prepaid items 5,701,791 - 19,107 5,720,898
Inventories 160,286 - - 160,286
Restricted assets:

Cash and investments 909,211 5,808,555 93,875 6,811,641 Interest receivable - 31 - 31
Special assessments receivable - - 317,183 317,183
Notes receivable - - 55,599,390 55,599,390
Total assets $ 26,748,349 51,689,155 $ 78,269,788 $ 156,707,292 $ (Continued)
See accompanying Notes to the Basic Financial Statements.

City of Redding
Balance Sheet
Governmental Funds
June 30, 2021
36 Packet Pg. 612 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) General Non-Major Total
General Capital Projects Governmental Governmental
Fund Fund Funds Funds

LIABILITIES
Accounts payable 996,435 $ 2,430,763 $ 56,531 $ 3,483,729 $ Accrued liabilities 3,253,225 96,859 102,710 3,452,794
Intergovernmental payable 800,985 - 12,943 813,928
Due to other funds - - 56,126 56,126
Accounts payable from restricted assets - - 8,827 8,827 Unearned revenue 10,231,439 1,488,788 1,582,978 13,303,205 Deposits 82,928 - 102,558 185,486
Advances from other funds 4,380,797 - 420,694 4,801,491 Total Liabilities 4,016,410 19,745,809 2,343,367 26,105,586

DEFERRED INFLOWS OF RESOURCES
Unavailable revenue 1,436,559 15,546,806 5,017,461 22,000,826 Total Deferred Inflows of Resources: 15,546,806 1,436,559 5,017,461 22,000,826 Fund Balances:

Nonspendable 6,771,284 - 19,107 6,790,391
Restricted 209,316 7,185,133 70,889,853 78,284,302
Assigned 10,524,976 - - 10,524,976
Unassigned 13,001,211 - - 13,001,211
Total Fund Balances 7,185,133 30,506,787 70,908,960 108,600,880 Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 26,748,349 51,689,155 $ 78,269,788 $ 156,707,292 $ (Concluded)
See accompanying Notes to the Basic Financial Statements.

Balance Sheet (Continued)
Governmental Funds
June 30, 2021
City of Redding
37 Packet Pg. 613 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
38 Packet Pg. 614 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) $ 108,600,880

Capital assets have not been included as financial resources in governmental fund activity. 579,093,136 Accumulated depreciation has not been included in the governmental fund financial statements. (247,591,564) Deferred charges have not been included as financial resources in governmental fund activity. 265,391 Deferred outflows related to pensions and OPEB have not been included in governmental fund activity. 33,073,545
Long-term debt that has not been included in the governmental fund activity. (32,551,405) Accrued interest payable for the current portion of interest due on bonds has not been reported in the governmental funds. (368,859)
The net other post employment benefit obligation has not been reported in the governmental funds. (20,205,543) Net pension liability is not due and payable in the current period and therefore is not reported in the fund financial statements. (181,586,816)
Revenue reported as unavailable revenue in the governmental funds is recorded as revenue in the statement of activities. 22,000,826
Deferred inflows related to pensions and OPEB have not been included in governmental fund activity. (1,701,304)
Internal service fund net position included in the governmental activities on the statement of activities. 1,271,264
Accrued vacation and other leave not reported in governmental funds, but recorded as expense in the Statement of Activities. (10,829,098)

$ 249,470,453
See accompanying Notes to the Basic Financial Statements.

Net position of governmental activities
City of Redding
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2021
Fund balances governmental funds
Amounts reported for governmental activities in the Statement of Net Position are different because:
39 Packet Pg. 615 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) General Non-Major Total
General Capital Projects Governmental Governmental
Fund Fund Funds Funds
REVENUES:

Property taxes 22,809,135 $ - $ - $ 22,809,135 $
Sales and use taxes 30,806,457 - 272,517 31,078,974
Other taxes 11,345,153 - - 11,345,153
Special assessments 13,350 - 693,758 707,108
Licenses and permits 2,413,631 - 36,245 2,449,876
Intergovernmental revenues 2,932,750 5,313,751 23,591,500 31,838,001 Charges for services 4,702,671 - 1,690,967 6,393,638
Fines, forfeitures, and penalties 1,250,843 - 96,015 1,346,858 Use of money and property - 6,761,893 - 6,761,893
Net Investment Earnings (Loss) (206,228) 571,149 (16,840) 348,081 Other 1,497,957 9,106,362 7,497,435 18,101,754
Total revenues 14,403,273 84,327,612 34,449,586 133,180,471 EXPENDITURES:

Current:

General government 33,658 6,965,823 - 6,999,481
Community development - - 11,129,141 11,129,141
Public safety:

Police 34,441,058 - 16,856 34,457,914
Fire 23,639,636 - - 23,639,636
Public works 5,322,501 206,865 799,086 6,328,452
Planning - 5,122,727 - 5,122,727
Recreation and culture 5,283,486 283,439 2,326,868 7,893,793 Capital outlay 17,589,313 3,905,531 109,277 21,604,121
Debt service:

Principal 1,593,967 260,000 - 1,853,967
Interest and fiscal charges 1,092,113 480,788 14,679 1,587,580 Total expenditures 18,854,063 87,366,842 14,395,907 120,616,812 Excess (Deficiency) of Revenues
Over (Under) Expenditures (3,039,230) 20,053,679 (4,450,790) 12,563,659 OTHER FINANCING SOURCES (USES):

Sale of assets 1,002,027 - 48,884 1,050,911
Transfers in 11,940,031 - 892,535 12,832,566
Transfers out (1,740,709) (708,677) (4,907,764) (7,357,150) Total other financing sources (uses) 11,201,349 (708,677) 6,526,327 (3,966,345) NET CHANGE IN FUND BALANCES 8,162,119 16,087,334 (5,159,467) 19,089,986 Fund Balances:

Beginning of Year 22,344,668 12,344,600 54,821,626 89,510,894 End of Year 30,506,787 $ 7,185,133 $ 70,908,960 $ 108,600,880 $ See accompanying Notes to the Basic Financial Statements.

City of Redding
Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended June 30, 2021
40 Packet Pg. 616 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Net Change in Fund Balances - Total Governmental Funds 19,089,98 $ 6 Governmental funds reported acquisition of capital assets as part of capital outlay expenditures. However, in the Government-Wide Statement of Activities and Changes in Net Position, the cost of those assets was allocated over their estimated useful lives as depreciation expense. This was the amount of capital assets recorded in the current period. 21,604,121
In the Statement of Activities, donated assets are reported as a capital contribution. 6,029,580 Transfer of capital assets to Governmental Fund from Enterprise and Internal Service Funds. 683,400 Depreciation expense on capital assets was reported in the Government-Wide Statement of Activities and Changes in Net Position, but it did not require the use of current financial resources. Therefore, depreciation expense was not reported as expenditures in governmental funds. (14,905,771) Disposal of capital assets is reported in the Governmental-Wide Statement of Activities and Changes in Net Position, but it does not require the use of current financial resources. Therefore, it is not reported as expenditures in governmental funds.
- Net book value of the assets disposed (146,680)
Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the governmental funds. 9,824,921
In the Statement of Activities, the other post employment benefit expense that does not require the use of financial resources is not reported as revenue or expenditure. (1,760,381) Repayment of bond principal was an expenditure in governmental funds, but the repayment reduced long-term liabilities in the Government-Wide Statement of Net Position. 1,853,967 Interest expense on long-term debt is accrued in the Government-Wide Statement of Activities and Changes in Net Position. The following amount represented the change in accrued interest from the prior year and amortization of interest expense. 126,482
Compensated absences in the Statement of Activities is reported as an expense but is not reported in the governmental funds. (403,373)
In the Statement of Activities, pension expense that does not require the use of current financial resources is not reported as revenue or expenditure. (858,259)
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.

Net income (loss) before transfers and contributions - Internal Service Funds (1,904,803) Less: Portion allocated to Business Activites 1,447,851 Change in Net Position of Governmental Activities $ 40,681,041 See accompanying Notes to the Basic Financial Statements.

Amounts reported for governmental activities in the Statement of Activities were different because:

City of Redding
Reconciliation of the Governmental Statement of Revenues, Expenditures, and Changes in Fund Balances of Government-Wide Statement of Activities and Changes in Net Position For the Year Ended June 30, 2021
41 Packet Pg. 617 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
42 Packet Pg. 618 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Major Enterprise Funds:

Electric Utility – This fund was established to account for the operations of the City’s electric utility, a selfsupporting activity which renders a service on a user-charge basis to residents and businesses.

Water Utility – This fund was established to account for the operations of the City’s water utility, a selfsupporting activity which renders a service on a user-charge basis to residents and businesses.

Wastewater Utility - This fund was established to account for the operations of the City’s wastewater utility, a self-supporting activity which renders a service on a user-charge basis to residents and businesses.

Solid Waste Collection/Disposal - This fund was established to account for the operations of the City’s solid waste collection and disposal, a self-supporting activity which renders a service on a user-charge basis to residents and businesses.

Internal Service Funds:

These funds are used to account for interdepartmental operations where it is the stated intent that costs of providing services to the departments of the City on a continuing basis be financed or recovered primarily by charges to the user departments.

PROPRIETARY FUND

FINANCIAL STATEMENTS
43 Packet Pg. 619 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Solid Waste
Electric Water Wastewater Collection/
Utility Utility Utility Disposal
ASSETS
Current assets:

Cash and investments 87,316,325 $ $47,238,012 32,227,361 $ 27,822,044 $ Accounts receivable, net 18,088,942 3,162,467 3,171,694 2,525,100 Intergovernmental receivable 59,783 141,020 12,800 53,954 Interest receivable 167,032 90,925 78,223 48,480
Interfund receivable 67,649 - - -
Prepaid items 1,682,106 55,096 61,442 123,336
Inventories 9,537,152 909,649 23,747 -
Deposit - 20,750 41,000 - - Total current assets 116,918,989 51,617,919 35,616,267 30,572,914 Noncurrent assets:

Restricted assets:

Cash and investments 3,195,546 11 7,373,671 -
Total restricted assets 11 3,195,546 7,373,671 -
Capital assets:

Land 508,799 5,240,780 2,984,167 1,697,818
Construction in progress 8,303,519 11,994,226 13,959,110 153,634 Other capital assets, net 61,694,066 178,735,186 165,007,499 18,393,426 Capital assets 70,506,384 195,970,192 181,950,776 20,244,878 Other assets:

Power acquisition costs, net - 137,352 - -
Advances to other funds - 4,716,471 - -
Investment in JPA - 5,146,786 - -
Storage base gas - 13,570,000 - -
Note receivable - 133,368 - -
Total other assets - 23,703,977 - -
Total noncurrent assets 73,701,930 219,674,180 189,324,447 20,244,878 Total assets 125,319,849 336,593,169 224,940,714 50,817,792

DEFERRED OUTFLOWS OF RESOURCES
Deferred loss on refunding 7,413,009 71,431 882,911 -
Deferred outflows related to other post employment benefits 4,378,643 512,746 638,942 1,110,208 Deferred outflows related to pensions 11,109,531 1,443,006 1,741,890 2,723,300 Total deferred outflows of resources 2,027,183 22,901,183 3,263,743 3,833,508 (Continued)
See accompanying Notes to the Basic Financial Statements.

Enterprise Funds
City of Redding
Statement of Net Position
Proprietary Funds
June 30, 2021
44 Packet Pg. 620 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Governmental
Activities
Non-Major Internal
Enterprise Service
Funds Total Funds
ASSETS
Current assets:

Cash and investments 6,692,936 $ 201,296,678 $ 17,002,206 $ Accounts receivable, net 331,843 27,280,046 113,755
Intergovernmental receivable 2,506,681 2,774,238 -
Interest receivable 12,032 396,692 27,443
Interfund receivable - 67,649 107,892
Prepaid items 22,826 1,944,806 784,300
Inventories 104,739 10,575,287 299,075
Deposit 61,750 - -
Total current assets 9,671,057 244,397,146 18,334,671
Noncurrent assets:

Restricted assets:

Cash and investments 13,788,667 3,219,439 -
Total restricted assets 3,219,439 13,788,667 -
Capital assets:

Land 20,127,247 9,695,683 110,810
Construction in progress 36,015,055 1,604,566 -
Other capital assets, net 478,673,562 54,843,385 5,579,139 Capital assets 534,815,864 66,143,634 5,689,949
Other assets:

Power acquisition costs, net 137,352 - -
Advances to other funds 4,716,471 - 3,451,539
Investment in JPA 5,146,786 - -
Storage base gas 13,570,000 - -
Note receivable 133,368 - -
Total other assets 23,703,977 - 3,451,539
Total noncurrent assets 572,308,508 69,363,073 9,141,488 Total assets 816,705,654 79,034,130 27,476,159

DEFERRED OUTFLOWS OF RESOURCES
Deferred loss on refunding 14,417 8,381,768 -
Deferred outflows related to other post employment benefits 177,139 6,817,678 1,301,480 Deferred outflows related to pensions 436,495 17,454,222 3,332,615 Total deferred outflows of resources 32,653,668 628,051 4,634,095 (Continued)
See accompanying Notes to the Basic Financial Statements.

City of Redding
Statement of Net Position (Continued)
Proprietary Funds
June 30, 2021
Enterprise Funds
45 Packet Pg. 621 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Solid Waste
Electric Water Wastewater Collection/
Utility Utility Utility Disposal

LIABILITIES
Current liabilities (payable from current assets):

Accounts payable 7,956,596 561,499 1,881,013 1,171,886
Accrued liabilities 2,035,346 255,182 313,437 461,998
Accrued interest payable 424,181 4,538 194,835 -
Claims and judgements payable - - - -
Intergovernmental payable 3,185,812 18,101 4,226 79,101 Due to other funds - - - -
Interfund payables - - - -
Unearned revenue - 20,465 - 127,237
Deposits 1,017,159 - - 7,371,037
Accrued compensated absences, due with in one year 1,670,270 201,361 224,728 503,690 Landfill closure costs, due with in one year - - - 169,960 Long-term debt, due with in one year 8,923,080 688,264 5,104,724 - State loan, due with in one year - - - -
Total current liabilities 25,212,444 1,749,410 7,722,963 9,884,909 Long-term liabilities:

Accrued compensated absences, due in more than one year 3,653,60 367,030 3 468,194 1,146,909 Landfill closure costs, due in more than one year - - - 2,220,280 Advances from other funds - - - -
Claims and judgements, due in more than one year - - - - Long-term debt, due in more than one year 114,216,448 705,000 53,877,708 - State loan, due in more than one year - - - -
Aggregate net OPEB liability 11,019,028 1,290,347 1,607,922 2,793,878 Aggregate net pension liability 71,065,916 8,834,726 10,773,722 17,839,278 Total long-term liabilities 199,954,995 11,197,103 66,727,546 24,000,345 Total liabilities 12,946,513 225,167,439 74,450,509 33,885,254

DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to other post employment benefits 6 75,435 44,185 94,001 163,333 Deferred inflows related to pensions 166,412 19,746 24,350 42,771 Total deferred inflows of resources 95,181 810,597 118,351 206,104

NET POSITION
Net investment in capital assets 69,864,766 80,243,685 123,851,255 20,244,878 Restricted for:

Capital projects - 2,536,210 3,488,246 -
Unrestricted (deficit) 53,272,631 41,904,362 26,296,096 315,064 Total net position (deficit) $ 114,305,338 133,516,316 $ 153,635,597 $ 20,559,942 $ (Continued)
See accompanying Notes to the Basic Financial Statements.

Enterprise Funds
City of Redding
Statement of Net Position (Continued)
Proprietary Funds
June 30, 2021
46 Packet Pg. 622 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Governmental
Activities
Non-Major Internal
Enterprise Service
Funds Total Funds

LIABILITIES
Current liabilities (payable from current assets):

Accounts payable 1,042,922 12,613,916 580,170
Accrued liabilities 105,096 3,171,059 594,618
Accrued interest payable 22,935 646,489 -
Claims and judgements payable - - 4,063,710
Intergovernmental payable 662,470 3,949,710 638,977
Due to other funds 1,723,995 1,723,995 3,362
Interfund payables 107,892 107,892 67,649
Unearned revenue 1,833,218 1,980,920 10,525
Deposits 76,969 8,465,165 7
Accrued compensated absences, due with in one year 53,787 2,653,836 459,479 Landfill closure costs, due with in one year - 169,960 - Long-term debt, due with in one year 75,048 14,791,116 - State loan, due with in one year 83,126 83,126 -
Total current liabilities 5,787,458 50,357,184 6,418,497 Long-term liabilities:

Accrued compensated absences, due in more than one year 103,194 5,738,930 972,767 Landfill closure costs, due in more than one year - 2,220,280 - Advances from other funds 3,264,627 3,264,627 101,892
Claims and judgements, due in more than one year - - 12,551,500 Long-term debt, due in more than one year 156,103 168,955,259 - State loan, due in more than one year 1,128,438 1,128,438 - Aggregate net OPEB liability 445,777 17,156,952 3,275,224 Aggregate net pension liability 2,946,442 111,460,084 21,417,073 Total long-term liabilities 8,044,581 309,924,570 38,318,456 Total liabilities 360,281,754 13,832,039 44,736,953

DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to other post employment benefits 2 1,003,014 6,060 191,473 Deferred inflows related to pensions 7,267 260,546 50,386 Total deferred inflows of resources 1,263,560 33,327 241,859

NET POSITION
Net investment in capital assets 358,579,485 64,374,901 5,733,698 Restricted for:

Capital projects 3,408,583 9,433,039 -
Unrestricted (deficit) (1,986,669) 119,801,484 (18,602,256) Total net position (deficit) $ 487,814,008 65,796,815 $ (12,868,558) $ Net position reconciliation to statement of net position:

Net position of proprietary funds 487,814,008 $
Less business-type portion of the Internal Service Fund (14,139,824) Net position of business-type activities $ 473,674,184
See accompanying Notes to the Basic Financial Statements. (Concluded) City of Redding
Statement of Net Position (Continued)
Proprietary Funds
June 30, 2021
Enterprise Funds
47 Packet Pg. 623 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Solid Waste
Electric Water Wastewater Collection/
Utility Utility Utility Disposal
OPERATING REVENUES:

User fees and charges 126,419,111 $ 25,405,974 $ 30,811,877 $ 24,730,598 $ Wholesale sales 25,726,030 833,900 - -
Rental charges 138,000 - - -
Other operating revenue 6,036,975 36,017 3,496 1,285,027 Total operating revenues 26,275,891 158,320,116 30,815,373 26,015,625 OPERATING EXPENSES:

Cost of power, water, and transportation 52,810,777 593,349 - - Maintenance, operations, and administration 86,634,409 15,555,202 15,938,541 24,774,611 Depreciation and amortization 14,244,084 3,670,489 7,810,350 2,640,706 Total operating expenses 19,819,040 153,689,270 23,748,891 27,415,317 OPERATING INCOME (LOSS) 6,456,851 4,630,846 7,066,482 (1,399,692) NONOPERATING REVENUES (EXPENSES):

Net investment earnings (loss) 206,106 113,638 81,245 53,676 Interest expense (5,096,425) (77,751) (837,389) -
Intergovernmental revenues - 20,289 - 88,873
Gain (loss) on disposal of assets (133,320) (34,760) 192,661 (110,233) Other non-operating revenues (expenses) (528,676) 1,219,176 771,052 1,880 Total nonoperating revenues (expenses) 1,240,592 (5,552,315) 207,569 34,196

INCOME (LOSS) BEFORE TRANSFERS
AND CAPITAL CONTRIBUTIONS 7,697,443 (921,469) 7,274,051 (1,365,496) Capital contributions 2,087,229 887,025 910,861 1,271,803 Transfers in 1,000 - - 29,987
Transfers out (6,471,168) - (694,778) -
Change in net position 8,584,468 (5,304,408) 7,490,134 (63,706) NET POSITION:

Beginning of year 138,820,724 105,720,870 146,145,463 20,623,648 End of year 133,516,316 $ 114,305,338 $ 153,635,597 $ 20,559,942 $ (Continued)
See accompanying Notes to the Basic Financial Statements.

Enterprise Funds
City of Redding
Statement of Revenues, Expenses, and Changes in Net Position Proprietary Funds
For the Year Ended June 30, 2021
48 Packet Pg. 624 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Governmental
Activities
Non-Major Internal
Enterprise Service
Funds Total Funds
OPERATING REVENUES:

User fees and charges 2,956,306 $ 210,323,866 $ 64,757,601 $ Wholesale sales - 26,559,930 -
Rental charges 1,801,551 1,939,551 -
Other operating revenue 480,220 7,841,735 66,035
Total operating revenues 246,665,082 5,238,077 64,823,636 OPERATING EXPENSES:

Cost of power, water, and transportation 3,789,255 57,193,381 - Maintenance, operations, and administration 6,543,712 149,446,475 65,595,905 Depreciation and amortization 4,277,516 32,643,145 1,145,868 Total operating expenses 239,283,001 14,610,483 66,741,773 OPERATING INCOME (LOSS) 7,382,081 (9,372,406) (1,918,137) NONOPERATING REVENUES (EXPENSES):

Net investment earnings (loss) 2,656 457,321 20,433
Interest expense (66,994) (6,078,559) (3,640)
Intergovernmental revenues 5,612,644 5,721,806 52,427
Gain (loss) on disposal of assets 27,843 (57,809) (55,886) Other non-operating revenues (expenses) 174,351 1,637,783 - Total nonoperating revenues (expenses) 1,680,542 5,750,500 13,334

INCOME (LOSS) BEFORE TRANSFERS
AND CAPITAL CONTRIBUTIONS 9,062,623 (3,621,906) (1,904,803) Capital contributions 2,859,642 8,016,560 903,005
Transfers in 1,563,957 1,594,944 330,586
Transfers out (225,000) (7,390,946) (10,000)
Change in net position 11,283,181 576,693 (681,212)
NET POSITION:

Beginning of year 65,220,122 476,530,827 (12,187,346)
End of year 65,796,815 $ 487,814,008 $ (12,868,558) $
Change in net position reconciliation to statement of activities:

Change in net position of proprietary funds 11,283,181 $ Add Internal Service Funds income - business-type activity (1,4 47,851) Change in net position of business-type activities $ 9,835,330 (Concluded)
See accompanying Notes to the Basic Financial Statements.

City of Redding
Statement of Revenues, Expenses, and Changes in Net Position (Continued) Proprietary Funds
For the Year Ended June 30, 2021
Enterprise Funds
49 Packet Pg. 625 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Electric Water Wastewater
Utility Utility Utility
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers 146,289,609 $ 25,514,903 $ 30,156,144 $ Cash paid to suppliers (105,293,773) (11,315,287) (11,089,731) Cash paid to employees (25,810,062) (4,199,271) (5,126,057) Other income received 6,036,975 36,017 3,496
Net cash provided (used) by operating activities 10,036,362 21,222,749 13,943,852

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Intergovernmental revenue received - - -
Advances from other funds - - -
Repayment of advances from other funds - - -
Advances to other funds (709,324) - -
Repayment of advances to other funds 98,728 - 445,659
Repayment of Advances to Intergovernmental Agencies - 34,387 - Transfers in 1,000 - -
Transfers out (6,471,168) - -
Net cash provided (used) by noncapital financing activities 34,387 (7,080,764) 445,659

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Capital grant received - - -
Proceeds from sale of assets 62,060 38,595 347,700
Purchase of capital assets (17,262,922) (8,668,026) (11,944,514) Interest paid (5,685,321) (81,198) (2,067,850)
Proceeds from long-term debt - - 64,054,897
Principal paid on long-term debt (7,095,000) (650,000) (68,372,447) Bond issuance costs - - (422,601)
Cash collected for future capital outlay 80,887 1,063,147 1,181,011 Net cash provided (used) by capital
and related financing activities (8,297,482) (29,900,296) (17,223,804) CASH FLOWS FROM INVESTING ACTIVITIES:

Net investment earnings (loss) 385,670 225,672 173,279
Rents received 156,029 - 12,642
Net cash provided (used) by investing activities 381,701 385,670 185,921 Net increase (decrease) in cash and cash equivalents 2,154,968 (15,372,641) (2,648,372) CASH AND CASH EQUIVALENTS:

Beginning of year 102,688,977 48,278,590 42,249,404
End of year 87,316,336 $ 50,433,558 $ 39,601,032 $
Reconciliation to statement of net position:

Cash and cash equivalents $ 47,238,012 87,316,325 $ 32,227,361 $ Restricted cash and cash equivalents 3,195,546 11 7,373,671 $ 50,433,558 87,316,336 $ 39,601,032 $
See accompanying Notes to the Basic Financial Statements. (Continued) Enterprise Funds
City of Redding
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2021
50 Packet Pg. 626 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Governmental
Activities
Solid Waste Non-Major Internal
Collection/ Enterprise Service
Disposal Funds Total Funds
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers 28,511,491 $ 5,041,665 $ 235,513,812 $ 64,774,348 $ Cash paid to suppliers (17,304,914) (8,827,219) (153,830,924) (53,633,322) Cash paid to employees (9,184,008) (1,431,548) (45,750,946) (10,632,553) Other income received 1,285,027 68,826 7,430,341 -
Net cash provided (used) by operating activities (5,148,276) 3,307,596 43,362,283 508,473

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Intergovernmental revenue received 20,262 4,939,073 4,959,335 52,427 Advances from other funds - 1,723,995 1,723,995 3,362
Repayment of advances from other funds - (1,279,643) (1,279,643) (98,729) Advances to other funds - - (709,324) (3,862)
Repayment of advances to other funds - - 544,387 179,528 Repayment of Advances to Intergovernmental Agencies - - 34,387 - Transfers in 29,987 818,187 849,174 -
Transfers out - (225,000) (6,696,168) (10,000)
Net cash provided (used) by noncapital financing activities 5,976,612 50,249 (573,857) 122,726

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Capital grant received - 674,160 674,160 -
Proceeds from sale of assets 57,362 31,000 536,717 1,908 Purchase of capital assets (3,255,952) (1,338,788) (42,470,202) (111,202) Interest paid - (57,705) (7,892,074) (3,642)
Proceeds from long-term debt - - 64,054,897 -
Principal paid on long-term debt - (297,918) (76,415,365) - Bond issuance costs - - (422,601) -
Cash collected for future capital outlay - 73,273 2,398,318 - Net cash provided (used) by capital
and related financing activities (915,978) (3,198,590) (59,536,150) (112,936) CASH FLOWS FROM INVESTING ACTIVITIES:

Net investment earnings (loss) 114,646 20,418 919,685 55,404 Rents received 1,880 32,428 202,979 -
Net cash provided (used) by investing activities 52,846 116,526 1,122,664 55,404 Net increase (decrease) in cash and cash equivalents (34,796) 275,781 (15,625,060) 573,667 CASH AND CASH EQUIVALENTS:

Beginning of year 27,546,263 9,947,171 230,710,405 16,428,539 End of year 27,822,044 $ 9,912,375 $ 215,085,345 $ 17,002,206 $ Reconciliation to statement of net position:

Cash and cash equivalents $ 6,692,936 27,822,044 $ 201,296,678 $ 17,002,206 $ Restricted cash and cash equivalents 3,219,439 - 13,788,667 - $ 9,912,375 27,822,044 $ 215,085,345 $ 17,002,206 $
See accompanying Notes to the Basic Financial Statements. (Continued) City of Redding
Statement of Cash Flows (Continued)
Proprietary Funds
For the Year Ended June 30, 2021
Enterprise Funds
51 Packet Pg. 627 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Electric Water Wastewater
Utility Utility Utility

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

Operating income (loss) 4,630,846 $ 6,456,851 $ 7,066,482 $ Adjustments to reconcile operating income (loss) to net cash provided (used) by operating activities:

Other non-operating revenue and expense - - -
Depreciation and amortization 14,244,084 3,670,489 7,810,350 Other post employment benefits 737,360 51,632 12,985
Pension expense 7,535,001 349,129 (385,879)
(Increase) decrease in accounts receivable (5,993,532) (724,971) (655,733) (Increase) decrease in inventories (619,373) (3,181) 1,099 (Increase) decrease in prepaid items (378,325) 2,341 6,350 (Increase) decrease in investment in JPA (934,382) - -
(Increase) decrease in deposits - 4,300 -
Increase (decrease) in accounts payable 41,008 133,254 (26,543) Increase (decrease) in accrued liabilities 349,988 20,872 44,166 Increase (decrease) in claims and judgements payable - - - Increase (decrease) in deposits liability 924,649 - -
Increase (decrease) in intergovernmental payable 221,267 6,307 4,012 Increase (decrease) in unearned revenue - - -
Increase (decrease) in accrued compensated absences 464,158 69,339 66,563 Increase (decrease) in accrued landfill closure costs - - - Increase (decrease) in claims and judgements payable long-term - - - Total adjustments 3,579,511 16,591,903 6,877,370
Net cash provided (used) by operating activities $ 10,036,362 21,222,749 $ 13,943,852 $

SCHEDULE OF NONCASH CAPITAL AND
RELATED FINANCING ACTIVITIES:

Plant contributed from developers 2,087,229 $ 887,025 $ 910,861 $ Non-cash change in deposits - - -
Equipment transfers - - 694,778
Total non-cash capital and related financing activities $ 887,025 2,087,229 $ 1,605,639 $ (Continued)
See accompanying Notes to the Basic Financial Statements.

Enterprise Funds
City of Redding
Statement of Cash Flows (Continued)
Proprietary Funds
For the Year Ended June 30, 2021
52 Packet Pg. 628 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Governmental
Activities
Solid Waste Non-Major Internal
Collection/ Enterprise Service
Disposal Funds Total Funds

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

Operating income (loss) (1,399,692) $ (9,372,406) $ 7,382,081 $ (1,918,137) $ Adjustments to reconcile operating income (loss) to net cash provided (used) by operating activities:

Other non-operating revenue and expense - 68,650 68,650 - Depreciation and amortization 2,640,706 4,277,516 32,643,145 1,145,868 Other post employment benefits (153,005) (48,031) 600,941 66,980 Pension expense 989,963 306,356 8,794,570 325,336
(Increase) decrease in accounts receivable (374,216) (198,137) (7,946,589) (47,280) (Increase) decrease in inventories - (1,628) (623,083) (56,006) (Increase) decrease in prepaid items 20,218 1,374 (348,042) (48,211) (Increase) decrease in investment in JPA - - (934,382) - (Increase) decrease in deposits - - 4,300 -
Increase (decrease) in accounts payable 100,086 359,217 607,022 231,447 Increase (decrease) in accrued liabilities 33,444 39,910 488,380 103,496 Increase (decrease) in claims and judgements payable - - - (1,458,350) Increase (decrease) in deposits liability 1,201,319 1,900 2,127,868 7 Increase (decrease) in intergovernmental payable 2,173 (590,721) (356,962) 75,940 Increase (decrease) in unearned revenue - (28,174) (28,174) (2,015) Increase (decrease) in accrued compensated absences 218,257 35,898 854,215 107,078 Increase (decrease) in accrued landfill closure costs 28,343 - 28,343 - Increase (decrease) in claims and judgements payable long-term - - - 1,982,320 Total adjustments 4,224,130 4,707,288 35,980,202 2,426,610 Net cash provided (used) by operating activities $ (5,148,276) 3,307,596 $ 43,362,283 $ 508,473 $

SCHEDULE OF NONCASH CAPITAL AND
RELATED FINANCING ACTIVITIES:

Plant contributed from developers 1,271,803 $ 1,647,823 $ 6,804,741 $ - $ Non-cash change in deposits (1,271,803) - (1,271,803) 903,005 Equipment transfers - 818,362 1,513,140 287,594
Total non-cash capital and related financing activities $ 2,466,185 - $ 7,046,078 $ 1,190,599 $ (Concluded)
See accompanying Notes to the Basic Financial Statements.

Enterprise Funds
City of Redding
Statement of Cash Flows (Continued)
Proprietary Funds
For the Year Ended June 30, 2021
53 Packet Pg. 629 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
54 Packet Pg. 630 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Custodial Funds
These funds are custodial in nature and do not involve measurement of results of operations. They are used to account for assets held in an agency capacity for others and therefore cannot be used to support the City's programs. This includes the Special Deposits Fund, Intergrated Public Safety System (IPSS) Fund, and Enterprise Anderson Groundwater Fund.

The Successor Agency to the Redding Redevelopment Agency Private-purpose Trust Fund ("Successor Agency")
This fund is used to account for monies received from the Shasta County Auditor-Controller for the repayment of the enforceable obligations of the former Redding Redevelopment Agency. These funds are restricted for the sole purpose of payment of items on an approved Recognized Payment Obligation Schedule (ROPS).

FIDUCIARY FUND

FINANCIAL STATEMENTS
55 Packet Pg. 631 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Successor Agency
Custodial Private-Purpose
Funds Trust Fund
ASSETS
Cash and investments $ 7,315,327 $ 4,921,175
Restricted Cash & Investments - 6,773,412
Interest receivable 10,495 4,793
Accounts receivable, net 71,104 -
Intergovernmental receivable 201,606 104,717
Prepaid costs 3,859 -
Capital assets:

Land 420,450 -
Construction in Progress 1,893,429 -
Other capital assets, net 108,725 -
Net capital assets 2,002,154 420,450
Total assets $ 12,228,406 9,600,686

DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding - 56,862
Total deferred outflows of resources 56,862 -

LIABILITIES
Accounts payable $ 235,288 -
Accrued liabilities - 33,342
Accrued interest payable 296,933 -
Intergovernmental payable 1,314 -
Unearned revenue 2,781,687 -
Deposits payable - 5,566,316
Long-term debt 18,118,280 -
Total liabilities $ 21,198,214 5,834,946

NET POSITION (DEFICIT)
Restricted for:

Individuals, organizations, and other goverments 3,765,740 - Held in trust (8,912,946) -
Total net position $ (8,912,946) 3,765,740 $
See accompanying Notes to the Basic Financial Statements.

City of Redding
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2021
56 Packet Pg. 632 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Successor Agency
Custodial Private-Purpose
Funds Trust Fund
ADDITIONS:

Property taxes $ 4,568,458 - $
Intergovernmental revenues 1,194,241 -
User fees - 93,346
Net investment earnings (loss) 3,415 46,070
Sale of property 259,571 -
Total additions 4,874,099 1,291,002
DEDUCTIONS:

Administrative costs 832,160 250,000
Payment on recognized obligation payment schedule - 1,214,257 Software maintenance and support 75,256 -
Project payments 373,090 -
Loss on property disposal - 44,290
Depreciation - 59,142
Investment costs - 132
Total deductions 1,508,547 1,339,780
Net change in net position 3,365,552 (48,778)
NET POSITION:

Beginning of period (12,278,498) 3,814,518
End of period $ (8,912,946) 3,765,740 $
See accompanying Notes to the Basic Financial Statements.

City of Redding
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended June 30, 2021
57 Packet Pg. 633 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
58 Packet Pg. 634 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 59 NOTES TO THE BASIC

FINANCIAL STATEMENTS
Packet Pg. 635 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 60 This page intentionally left blank

Packet Pg. 636 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Index to Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
61 Note 1 – Summary of Significant Accounting Policies ...................................................................................... 63 A. Reporting Entity .................................................................................................................................. 63 B. Measurement Focus, Basis of Accounting, and Financial Statement Presentation ............................. 64 C. Cash and Investments .......................................................................................................................... 68 D. General Receivables and Property Taxes Receivable ......................................................................... 69 E. Inventories ........................................................................................................................................... 69 F. Capital Assets ...................................................................................................................................... 69 G. Pensions ............................................................................................................................................... 70 H. Vacation and Sick Pay ......................................................................................................................... 71 I. Unearned Revenue ............................................................................................................................... 71 J. Long–Term Obligations ...................................................................................................................... 71 K. Net Position ......................................................................................................................................... 72 L. Fund Balances ..................................................................................................................................... 72 M. Spending Policy ................................................................................................................................... 73 N. Use of Estimates .................................................................................................................................. 73 O. New Governmental Accounting Standards Implemented for the Year Ended June 30, 2020 ............. 73 P. Upcoming Governmental Accounting Standards Implementation ...................................................... 74 Note 2 – Cash and Investments ............................................................................................................................ 75 A. Demand Deposits ................................................................................................................................. 76 B. Investments .......................................................................................................................................... 77 C. Investments in Local Agency Investment Fund .................................................................................. 77 D. Risk Disclosures .................................................................................................................................. 78 Note 3 – Governmental Notes Receivable ........................................................................................................... 79 Note 4 – Interfund Activities ................................................................................................................................ 80 A. Due From and Due To Other Funds .................................................................................................... 80 B. Interfund Receivable and Payable ....................................................................................................... 80 C. Advances To and From Other Funds ................................................................................................... 81 D. Transfer In and Out ............................................................................................................................. 82 Note 5 – Capital Assets ......................................................................................................................................... 83 A. Governmental Activities ...................................................................................................................... 83 B. Business-Type Activities ..................................................................................................................... 84 Note 6 – Power Acquisition Costs ........................................................................................................................ 85 Note 7 – Storage Base Gas .................................................................................................................................... 85 Note 8 – Unavailable Revenue .............................................................................................................................. 85 Note 9 – Long Term Debt ..................................................................................................................................... 86 Note 10 – Pledged Revenue ................................................................................................................................... 92 Note 11 – Compensated Absences…………………………………………………………………………. ....... 94 Packet Pg. 637 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Index to Notes to the Basic Financial Statements (Continued) For the Year Ended June 30, 2021
62 Note 12 – Self Insurance………………………………………………………………………. ........................... 95 Note 13 – Individual Fund Disclosures ................................................................................................................ 96 Note 14 – Joint Ventures ...................................................................................................................................... 97 A. M-S-R Public Power Agency .............................................................................................................. 97 B. M-S-R Energy Authority ..................................................................................................................... 99 C. Transmission Agency of Northern California ..................................................................................... 100 D. Balancing Authority of Northern California ....................................................................................... 101 E. Contingent Liability ............................................................................................................................. 102 Note 15 – Postclosure Care Costs ........................................................................................................................ 102 Note 16 – Public Transportation Modernization Improvement and Service Enhancement Account (PTMISEA) Grant Information .......................................................................................................... 103 Note 17 – Retirement Plans .................................................................................................................................. 104 Note 18 – Other Postemployment Healthcare Benefits ...................................................................................... 123 Note 19 – Fund Balances ...................................................................................................................................... 132 Note 20 – Net Investment in Capital Assets ........................................................................................................ 133 Note 21 – Commitments and Contingencies ....................................................................................................... 134 A. Construction Commitments ................................................................................................................. 134 B. Redding Electric Utility (REU) ........................................................................................................... 134 C. West Central Landfill ......................................................................................................................... 136 D. Grants .................................................................................................................................................. 136 E. Litigation ............................................................................................................................................. 136 Note 22 – Successor Agency Trust for Assets of the Former Redevelopment Agency .................................... 137 Note 23 – American Rescue Plan Act .................................................................................................................. 139 Packet Pg. 638 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
63 Note 1 – Summary of Significant Accounting Policies
The following is a summary of the more significant accounting policies of the City of Redding (City), all of which conform to United States generally accepted accounting principles (U.S. GAAP) as applicable to governmental units.

The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles.

A. Reporting Entity
The City was incorporated on October 4, 1887, as a general law city formed under state legislative statutes and governed by a body of laws in the State Constitution. The financial reporting entity (the government) includes all the funds of the primary government (i.e., the City as legally defined), as well as all of its component units.

Component units are legally separate entities for which the primary government is financially accountable. The government provides a full range of services including police and fire protection; sanitation, electric, water, and wastewater services; the construction and maintenance of streets and infrastructure; recreational activities and cultural events.

As required by U.S. GAAP, the accompanying basic financial statements present the City and its component units. Component units are entities for which the City is considered to be financially accountable. GASB defines component units as legally separate entities that meet any one of the following tests:
 The component unit’s governing body is substantively the same as the governing body of the City and:
o there is a financial benefit or burden relationship between the City and the component unit or o management of the City has operational responsibility for the component unit.  The component unit provides services entirely, or almost entirely, to the City or otherwise exclusively, or almost exclusively, benefits the City even though it does not provide services to it.  The component unit’s total debt outstanding, including leases, is expected to be repaid entirely or almost entirely with resources of the City.

Management determined that the following component units should be blended based on the criteria above:
 Redding Housing Authority
 Redding Joint Power Financing Authority
 Redding Capital Services Corporation
 Redding Area Bus Authority
These component units are included in the primary government because of the significance of their financial or operational relationship and the same City governing body.

Each of the blended component units in the accompanying basic financial statements of the City are described below:

Redding Housing Authority (Authority) manages certain programs which are funded by the U.S. Department of Housing and Urban Development, primarily to provide services under the Housing Assistance Payments Program. The five City Council members and one person appointed by the City Council, in a separate session, serve as the governing board of the Authority. The financial activity of the Authority has been included in the City’s financial statements as a special revenue fund.

Redding Joint Powers Financing Authority (JPA) was created by a joint exercise of power agreement between the City and the JPA with the purpose of financing public capital improvements. City Council members, in a separate session, serve as the governing board of the JPA. The financing activity of the JPA has been included in the City’s financial statements.

Packet Pg. 639 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
64 Note 1 – Summary of Significant Accounting Policies (Continued) A. Reporting Entity (Continued)
Redding Capital Services Corporation (Corporation), a nonprofit public benefit corporation, was organized under the Nonprofit Public Benefit Corporation Law of the State of California to provide financial assistance to the City by constructing, financing, purchasing, selling and leasing various public facilities, land and equipment for the use, benefit and enjoyment of the public serviced by the City. City council members, in a separate session, serve as the board of directors of the Corporation. The financing activity of the Corporation has been included in the City’s financial statements in the enterprise funds.

Redding Area Bus Authority (RABA) is a separate governmental entity formed under a joint powers agreement between the County of Shasta, City of Shasta Lake, the City of Anderson and the City. RABA’s governing board comprises members of both the Counties, and the cities of Redding, Anderson, and Shasta Lake’s governing boards based on population ratios within the service area. Currently, the Redding City Council comprises a majority of the board members filling five of the eight positions. In addition, City of Redding personnel provides administrative responsibility for RABA. The function of RABA is to provide the most cost effective public transportation system utilizing federal and state funding participation. The financial activity of RABA has been included in the City’s financial statements as an enterprise fund.

Financial statements for each of the individual component units may be obtained from the Finance Department of the City at 777 Cypress Avenue, Redding, California 96001.

B. Measurement Focus, Basis of Accounting, and Financial Statement Presentation The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for by providing a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. Fund accounting segregates funds according to their intended purpose and is used to aid management in demonstrating compliance with finance-related legal and contractual provisions. The minimum number of funds is maintained in accordance with legal and managerial requirements.

The Statement of Net Position reports separate sections for Deferred Outflows of Resources, and Deferred Inflows of Resources, when applicable.

Deferred Outflows of Resources represent outflows of resources (consumption of net position) that apply to future periods and that, therefore, will not be recognized as an expense until that time.

Deferred Inflows of Resources represent inflows of resources (acquisition of net position) that apply to future periods and that, therefore, are not recognized as revenue until that time.

Government-Wide Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the nonfiduciary activities of the primary government and its component units. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from businesstype activities, which rely to a significant extent on fees and charges for support.

Packet Pg. 640 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
65 Note 1 – Summary of Significant Accounting Policies (Continued) B. Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued) Government-Wide Financial Statements (Continued)
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not included among program revenues are reported instead as general revenues.

The government-wide financial statements are reported using the “economic resources” measurement focus and the accrual basis of accounting, as are the proprietary fund financial statements. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows.

Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes.

As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements. Exceptions to this general rule are charges between the government’s business type activities and various other functions of the government. Elimination of these charges would distort the direct costs and program revenues reported for the various functions concerned.

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 funds aggregated. An accompanying schedule is presented to reconcile and explain the differences in Net Position as presented in these statements to the Net Position presented in the Government-Wide Financial Statements. The City has presented all major funds that met the applicable criteria.

Governmental fund financial statements are reported using the “current financial resources” measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. The City considers all revenues as available if they are collected within sixty (60) days of the end of the current fiscal period, except for sales tax which has a ninety (90) day availability period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due.

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

Packet Pg. 641 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
66 Note 1 – Summary of Significant Accounting Policies (Continued) B. Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued) Governmental Fund Financial Statements (Continued)
Property taxes, sales taxes, transient occupancy tax, grants, licenses, fees, charges and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when cash is received by the government.

The City reports the following major governmental funds:

The General Fund is the government’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 General Capital Projects Fund accounts for the financing and construction activities of the general government.

Proprietary Fund Financial Statements
Proprietary Fund Financial Statements include a Statement of Net Position, a Statement of Revenues, Expenses and Changes in Net Position, and a Statement of Cash Flows for each major Proprietary Fund.

A separate column representing internal service funds is also presented in these statements. However, internal service balances and activities have been combined with the governmental activities in the Government-Wide Financial Statements. The City’s internal service funds account for the financing of goods or services provided by one department to other departments of the City on a cost-reimbursement basis. Internal service funds used by the City are:

Equipment Fund - this fund is used to account for vehicle maintenance and communication costs.

Information Systems - this fund is used to provide computer technology services as well as providing programming and general information systems support services.

General Support Services - this fund is used to provide printing, reprographics, geographic services, records retention, building and maintenance services, volunteer services and employee services.

Risk Management – this fund is used to account for the accumulation of monies necessary to pay for worker’s compensation claims, health, dental and visions claims and liability claims under a self-insurance program.

Municipal Utilities Support – this fund is used to account for the management and technician support given to the Utilities and Street Maintenance funds.

Packet Pg. 642 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
67 Note 1 – Summary of Significant Accounting Policies (Continued) B. Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued) Proprietary Fund Financial Statements (Continued)
Proprietary funds are accounted for using the "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all assets and liabilities (whether current or noncurrent) are included on the Statement of Net Position. The Statement of Revenues, Expenses and Changes in Net Position presents increases (revenues) and decreases (expenses) in total Net Position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred.

In these funds, receivables have been recorded as revenue and provisions have been made for uncollectible amounts.

Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the City’s enterprise funds and of the government’s internal service funds are charges to customers for sales and services. Tap and similar fees have been reported as non-operating revenues in the City’s statement of revenue expense and changes in net position for proprietary funds and as capital grants and contributions in the statement of activities and changes in net position. Operating expenses for enterprise funds and internal service funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses.

The City reports the following major proprietary funds:

The Electric Utility Fund accounts for the operations of the City’s electric utility, a self-supporting activity which renders a service on a user-charge basis to residents and businesses.

The Water Utility Fund accounts for the operations of the City’s water utility, a self-supporting activity which renders a service on a user-charge basis to residents and businesses.

The Wastewater Utility Fund accounts for the operations of the City’s wastewater utility, a self-supporting activity which renders a service on a user-charge basis to residents and businesses.

The Solid Waste Collection / Disposal Fund accounts for the operations of the City’s solid waste utility, a self-supporting activity which renders a service on a user-charge basis to residents and businesses.

Fiduciary Fund Financial Statements
Fiduciary fund financial statements include a statement of fiduciary net position and a statement of changes in fiduciary net position. The City’s fiduciary funds represent custodial funds and a Private-purpose Trust Fund.

Custodial funds report fiduciary activities that are not held in a trust or equivalent arrangement. These funds are accounted for on the accrual basis of accounting.

Packet Pg. 643 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
68 Note 1 – Summary of Significant Accounting Policies (Continued) B. Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued) Fiduciary Fund Financial Statements (Continued)
Fiduciary fund types are accounted for according to the nature of the fund.

The City’s Custodial funds are used to account for assets held by a governmental unit as an agent for individuals, governmental entities (other than the City) and non-public organizations. This fund is used to account for deposits and collects monies for various community events which are remitted to the organizers.

The City’s private purpose trust fund is a fiduciary fund type used to report all trust arrangements, other than those properly reported in pension trust funds or investment trust funds, under which principal and interest benefit individuals, private organizations, or other governments. This trust fund is used to account for the fiduciary assets, liabilities and net position of the Successor Agency (Agency) to the Redding Redevelopment Agency, the former redevelopment agency of the City.

C. Cash and Investments
The City pools idle cash from all funds for the purpose of increasing income through investment activities. Cash deposits are stated at cost, which approximates fair value. Investments are stated at fair value. Investment income is recorded as revenue in the individual funds based on the computed average interest rate of all investments and the average daily cash balance of each fund. For purposes of the statement of cash flows of the proprietary fund types, cash and cash equivalents include all investments, as the City operates an internal cash management pool which maintains the general characteristics of a demand deposit account.

All cash and investments of proprietary funds are held in the City’s investment pool. Therefore, all cash and investments in the proprietary funds are considered cash and cash equivalents for purposes of the statement of cash flows as these cash pools have the general characteristics of a demand deposit account.

Certain disclosure requirements, if applicable, for Deposits and Investment Risks in the following areas:
 Interest Rate Risk
 Credit Risk
- Overall
- Custodial Credit Risk
- Concentration of Credit Risk
 Foreign Currency Risk
In addition, other disclosures are specified including use of certain methods to present deposits and investments, highly sensitive investments, credit quality at year-end and other disclosures.

Packet Pg. 644 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
69 Note 1 – Summary of Significant Accounting Policies (Continued) C. Cash and Investments (Continued)
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 Statements of Net Position or Balance Sheet, are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Levels of inputs are as follows:

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, which are observable for the assets or liabilities through corroboration with market data at the measurement date.

Level 3 – Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the assets or liabilities at the measurement date.

D. General Receivables and Property Taxes Receivable
The City records an allowance for doubtful accounts on general accounts receivable based on the experience method.

The County of Shasta assesses, bills, and collects property taxes for the City. Property taxes attach as an enforceable lien on property as of January 1. Taxes are levied on July 1. They become due November 1 and February 1 and become delinquent December 10 and April 10. City property tax revenue is recognized when levied to the extent that it is available (collected within 60 days of year-end).

E. Inventories
Inventories are physically counted at year-end and valued at their average cost. All inventories consist of expendable supplies held for consumption. The cost is recorded as inventory when items are purchased and as expenditures when the items are used (the consumption method of accounting for inventories). The weighted average method is used for establishing the cost of inventory consumed.

F. Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, sidewalks, and similar items), are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial cost of more than $5,000 and an estimated useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated acquisition value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend the asset’s life are not capitalized.

Packet Pg. 645 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
70 Note 1 – Summary of Significant Accounting Policies (Continued) F. Capital Assets (Continued)
Major outlays for capital assets and improvements are capitalized as projects are constructed.

Depreciation has been provided over the estimated useful lives using the straight-line method. The estimated useful lives are as follows:

Asset Types Useful Life (in years)
Public domain infrastructure 30-50
Utility plants 15-50
Buildings 10-30
Improvements other than buildings 5-40
Equipment, furnishings and vehicles 5-10
Assets under capital lease 4-30
System infrastructure 30
For all infrastructure systems, the City elected to use the Basic Approach. The City defines infrastructure as the basic physical assets that allow the City to function. The assets include the streets, water purification and distribution system, sewer collection and treatment system, parks and recreation, lands and improvement system, storm water conveyance system, and buildings combined with the site amenities such as parking and landscaped areas used by the City in the conduct of its business. 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, traffic control devices (signs, signals and pavement markings), landscaping and land.

These subsystems were not delineated in the basic financial statements. The appropriate operating department maintains information regarding the subsystems.

G. 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 (Note 17). 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, 2019
Measurement Date June 30, 2020
Measurement Period July 1, 2019 to June 30, 2020
PARS:

Valuation Date June 30, 2020
Measurement Date June 30, 2020
Measurement Period July 1, 2019 to June 30, 2020

Packet Pg. 646 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
71 Note 1 – Summary of Significant Accounting Policies (Continued) G. 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 deferred inflows of resources related to pensions and are to be recognized in future pension expense. The amortization period differs depending on the source of the gain or loss. The difference between projected and actual earnings is amortized straight-line over 5 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.

H. Vacation and Sick Pay
Vacation pay is vested to the employees as it accrues and is payable upon retirement or termination. Sick leave, however, does not vest to the employees and is payable only when sick leave is taken, except when an individual has been employed by the City for ten years or longer. If the employee severs their relationship with the City after having been employed ten or more years, they receive from 33-1/3% to 60% payoffs depending on length of service. If the employee retires from the City after having been employed ten or more years, they have the option to take from 33-1/3% to 60% payoffs, per various Memoranda of Understandings, of their accrued sick pay as additional termination pay and have the remaining accrued sick pay extend their term of service for retirement benefit purposes. Vacation pay and 33-1/3% to 60% of the sick pay of employees with terms of services equal to or exceeding ten years have been accrued in the accompanying government-wide financial statements and the accompanying proprietary fund financial statements.

I. Unearned Revenue
In the government-wide financial statements and fund financial statements, unearned revenue is recorded for transactions for which revenues have not been earned.

J. Long-Term Obligations
In the government-wide financial statements and proprietary fund types in the fund financial statements, longterm 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 straight-line method, which does not materially differ from the effective interest method. Bonds payable are reported net of the applicable bond premium or discount.

In the fund financial statements, governmental fund types recognize bond premiums and discounts 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 uses. Bond issuance costs, whether or not withheld from the actual debt proceeds received, are reported as expenditures unless they are related to insurance costs. Bond issuance insurance costs are reported as a prepaid asset and amortized over the life of the bonds.

Packet Pg. 647 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
72 Note 1 – Summary of Significant Accounting Policies (Continued) K. Net Position
For government-wide reporting as well as in proprietary funds, fund equity is called net position. Net position is comprised of three components: net investment in capital assets, restricted, and unrestricted.

Net investment in capital assets consists of capital assets, net of accumulated depreciation and reduced by outstanding balances of bonds, notes and other debt that are attributed to the acquisition, construction, or improvement of those assets. Deferred outflows of resources and deferred inflows of resources that are attributable to the acquisition, construction, or improvement of those assets or related debt are included in this component of net position.

Restricted net position consists of restricted assets reduced by liabilities and deferred inflows of resources related to those assets. Assets are reported as restricted when constraints are placed on asset use either by external parties or by law through constitutional provision or enabling legislation.

Unrestricted net position is the net amount of the assets, deferred outflows or resources, liabilities, and deferred inflows of resources that does not meet the definition of the two preceding categories.

L. Fund Balances
In the fund financial statements, governmental funds aggregate amounts for five classifications of fund balances based on the constraints imposed on the use of these resources. The nonspendable fund balance classification includes amounts that cannot be spent because they are either (a) not in spendable form – prepaid items or inventories; or (b) legally or contractually required to be maintained intact.

The spendable portion of the fund balance comprises the remaining four classifications; restricted, committed, assigned, and unassigned.

Restricted fund balance. This classification reflects the constraints imposed on resources either (a) externally by creditors, grantors, contributors, or laws or regulations of other governments; or (b) imposed by law through constitutional provisions or enabling legislation.

Committed fund balance. These amounts can only be used for specific purposes pursuant to constraints imposed ordinances of the City Council – the government’s highest level of decision making authority.

Those committed amounts cannot be used for any other purpose unless the City Council removes the specified use by taking the same type of action imposing the commitment. This classification also includes contractual obligations to the extent that existing resources in the fund have been specifically committed for the use in satisfying those contractual requirements.

Assigned fund balance. This classification reflects the amounts constrained by the City Council’s “intent” to be used for specific purposes, but are neither restricted nor committed. By Council Policy the City Council and City Manager have the authority to allocate amounts to be used for specific purposes. City Council approves the appropriation; however, the budget ordinance authorizes the City Manager to modify the appropriations by resource or appropriation within a functional area or fund.

Packet Pg. 648 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
73 Note 1 – Summary of Significant Accounting Policies (Continued) L. Fund Balances (Continued)
Unassigned fund balance. This amount is for any portion of the fund balances that do not fall into one of the above categories. The General Fund is the only fund that reports a positive unassigned fund balance amount. In other governmental funds, it is not appropriate to report a positive unassigned fund balance amount. However, in governmental funds other than General Fund, if expenditures incurred for specific purposes exceed the amounts that are restricted, committed, or assigned to those purposes, it may be necessary to report a negative unassigned fund balance in that fund.

M. Spending Policy
When both restricted and unrestricted resources are available for use, it is the City’s policy to use externally restricted resources first, then unrestricted resources-committed, assigned, and unassigned-in order as needed.

The City has no formal policy of assignment of fund balance. So it is presumed that the order of spending is first committed fund balance, then assigned fund balance, and last of all, unassigned fund balance.

N. Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

O. New Governmental Accounting Standards Implemented for the Year Ended June 30, 2021 The requirements of the following accounting standards are effective for the purpose of implementation, if applicable to the City, for the year ended June 30, 2021. The financial statements included herein apply the requirements and provisions of these statements, including necessary retroactive adjustments to financial statement classifications and presentations.

GASB Statement No. 84 - In January 2017, GASB issued Statement No. 84, Fiduciary Activities. to improve guidance regarding the identification of fiduciary activities for accounting and financial reporting purposes and how those activities should be reported. The statement establishes criteria for identifying fiduciary activities of all state and local governments. It also provides for recognition of a liability to the beneficiaries in a fiduciary fund when an event has occurred that compels the government to disburse fiduciary resources. The City restated net position of fiduciary funds to account for activities previously reported in governmental fund and agency funds in custodial funds as part of implementing the requirements of the statement.

GASB Statement No. 90 - In August 2018, GASB issued Statement No. 90, Majority Equity Interests– an Amendment of GASB Statements No. 14 and No. 61. This Statement improves the consistency and comparability of reporting a government’s majority equity interest in a legally separate organization and to improve the relevance of financial statement information for certain component units. It defines a majority equity interest and specifies that a majority equity interest in a legally separate organization should be reported as an investment if a government’s holding of the equity interest meets the definition of an investment. A majority equity interest that meets the definition of an investment should be measured using the equity method, unless it is held by a specialpurpose government engaged only in fiduciary activities, a fiduciary fund, or an endowment (including permanent and term endowments) or permanent fund. Those governments and funds should measure the majority equity interest at fair value. Application of this statement did not have a material effect on the City’s financial statements for the fiscal year ending June 30, 2021.

Packet Pg. 649 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
74 Note 1 – Summary of Significant Accounting Policies (Continued) O. New Governmental Accounting Standards Implemented for the Year Ended June 30, 2021 (Continued) GASB Statement No. 98 - In October 2021, GASB issued Statement No. 98, The Annual Comprehensive Financial Report, to establish the term annual comprehensive financial report and its acronym ACFR. That new term and acronym replace instances of comprehensive annual financial report and its acronym in generally accepted accounting principles for state and local governments. Application of this statement did not have a material effect on the City’s financial statements for the fiscal year ending June 30, 2021.

P. Upcoming Governmental Accounting Standards Implementation The City is currently analyzing its accounting practices to determine the potential impact on the financial statements for the following GASB statements:

GASB Statement No. 87 - In June 2017, GASB issued Statement No. 87, Leases (GASB Statement No. 87), to better meet the information needs of financial statement users by improving accounting and financial reporting for leases by governments. This statement increases the usefulness of governments’ financial statements by requiring recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. It also establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. Application of this statement is effective for the City’s fiscal year ending June 30, 2022.

GASB Statement No. 91 - In May 2019, GASB issued Statement No. 91, Conduit Debt Obligations (GASB Statement No. 91), to provide a single method of reporting conduit debt obligations by issuers and eliminate diversity in practice associated with (1) commitments extended by issuers, (2) arrangements associated with conduit debt obligations, and (3) related note disclosures. This Statement achieves those objectives by clarifying the existing definition of a conduit debt obligation; establishing that a conduit debt obligation is not a liability of the issuer; establishing standards for accounting and financial reporting of additional commitments and voluntary commitments extended by issuers and arrangements associated with conduit debt obligations; and improving required note disclosures. Application of this statement is effective for the City’s fiscal year ending June 30, 2023, as amended by GASB 95.

GASB Statement No. 92 - In January 2020, GASB issued Statement No. 92, Omnibus 2020. The primary objectives of this Statement are to enhance comparability in accounting and financial reporting and to improve consistency of authoritative literature by addressing practice issues that have been identified during implementation and application of certain GASB Statements. Application of the effective date for this statement has been postponed to fiscal year ending June 30, 2022.

GASB Statement No. 93 - In March 2020, GASB issued Statement No. 93, Replacement of Interbank Offered Rates. Some governments have entered into agreements in which variable payments made or received depend on an interbank offered rate (IBOR)—most notably, the London Interbank Offered Rate (LIBOR). As a result of global reference rate reform, LIBOR is expected to cease to exist in its current form at the end of 2021, prompting governments to amend or replace financial instruments for the purpose of replacing LIBOR with other reference rates, by either changing the reference rate or adding or changing fallback provisions related to the reference rate. The objective of this Statement is to address those and other accounting and financial reporting implications that result from the replacement of an IBOR. Application of this statement is effective for the City’s fiscal year ending June 30, 2022, as amended by GASB 95.

Packet Pg. 650 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
75 Note 1 – Summary of Significant Accounting Policies (Continued) P. Upcoming Governmental Accounting Standards Implementation (Continued) GASB Statement No. 94 - In March 2020, GASB issued Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements. The primary objective of this Statement is to improve financial reporting by addressing issues related to public-private and public-public partnership arrangements (PPPs). As used in this Statement, a PPP is an arrangement in which a government (the transferor) contracts with an operator (a governmental or nongovernmental entity) to provide public services by conveying control of the right to operate or use a nonfinancial asset, such as infrastructure or other capital asset (the underlying PPP asset), for a period of time in an exchange or exchange-like transaction. Application of this statement is effective for the City’s fiscal year ending June 30, 2023.

GASB Statement No. 96 - In May 2020, GASB issued Statement No. 96, Subscription-Based Information Technology Arrangements. This Statement provides guidance on the accounting and financial reporting for subscription-based information technology arrangements (SBITAs) for government end users (governments).

This Statement (1) defines a SBITA; (2) establishes that a SBITA results in a right-to-use subscription asset—an intangible asset—and a corresponding subscription liability; (3) provides the capitalization criteria for outlays other than subscription payments, including implementation costs of a SBITA; and (4) requires note disclosures regarding a SBITA. Application of this statement is effective for the City’s fiscal year ending June 30, 2023.

GASB Statement No. 97 - In June 2020, GASB issued Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans – An Amendment of GASB Statements No. 14 and No. 84, and a Supersession of GASB Statement No. 32. The primary objectives of this Statement are to (1) increase consistency and comparability related to the reporting of fiduciary component units in circumstances in which a potential component unit does not have a governing board and the primary government performs the duties that a governing board typically would perform; (2) mitigate costs associated with the reporting of certain defined contribution pension plans, defined contribution other postemployment benefit (OPEB) plans, and employee benefit plans other than pension plans or OPEB plans (other employee benefit plans) as fiduciary component units in fiduciary fund financial statements; and (3) enhance the relevance, consistency, and comparability of the accounting and financial reporting for Internal Revenue Code (IRC) Section 457 deferred compensation plans (Section 457 plans) that meet the definition of a pension plan and for benefits provided through those plans. Application of this statement is effective for the City’s fiscal year ending June 30, 2022.

Note 2 – Cash and Investments
At June 30, 2021, cash and investments are reported in the accompanying basic financial statements as follows:

Fiduciary Funds
Governmental Business -type Statement of
Activities Activities Total Net Position Total
Cash and investments 68,155,239 $ 201,296,678 $ 269,451,917 $ 12,236,502 $ 281,688,419 $ Restricted cash
and investments $ 13,788,667 6,811,641 $ 20,600,308 $ 6,773,412 $ 27,373,720 $ Government-Wide
Statement of Net Position
Packet Pg. 651 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
76 Note 2 – Cash and Investments (Continued)
At June 30, 2021, cash and investments, including cash and investments with fiscal agent, are reported at fair value in accordance with generally accepted accounting principles. The following table presents the fair value measurements of the investments recognized in the accompanying statement of net position and balance sheet measured at fair value on a recurring basis and the levels within GASB 72 fair value hierarchy in which fair value measurement fall at June 30, 2021:

Measurement
Unrestricted Restricted Total Input
Deposits 57,217,928 $ 93,875 $ 57,311,803 $ N/A
Medium Term Corporate Notes 27,853,285 - 27,853,285 Level 2 Federal Agency Bonds 54,657,842 - 54,657,842 Level 2
Mutual Funds 406,800 6,645,796 7,052,596 Level 1
Local Agency Investment Fund 141,552,564 20,634,049 162,186,613 Uncategorized Total Investments 224,470,491 27,279,845 251,750,336
Total Cash and Investments 281,688,419 $ 27,373,720 $ 309,062,139 $ Fair Value
Securities classified in level 1 are valued using prices quoted in active markets for those securities. Securities classified in level 2 are valued using significant other observable inputs such as institutional bond pricing techniques and evaluated pricing applications and models.

The City maintains a cash and investment pool that is available for use by all funds, except for funds of the Authority, Agency, and RABA (these funds have segregated accounts). Each fund’s portion of the cash and investment pool or segregated accounts is displayed on the Statement of Net Position and the Fund Financial Statement Balance Sheets as “Cash and Investments.”
A. Demand Deposits
At June 30, 2021, the carrying amount of the City’s deposits was $57,311,803 of which $93,875 was restricted and $57,217,928 was unrestricted. The bank balance was $58,615,907. Of the bank balance, $2,852,828 was covered by Federal depository insurance, and $55,763,079 was covered by collateral held in the pledging bank’s trust department.

The California Government Code requires California banks and savings and loan associations to secure the City’s cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest in such collateral superior to those of a general creditor.

Thus, collateral for cash deposits is considered to be held in the City's name.

The market value of pledged securities must equal at least 110% of the City's cash deposits. California law also allows institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the City’s total cash deposits. The City may waive collateral requirements for cash deposits, which are fully insured up to $250,000 by the Federal Deposit Insurance Corporation. The City, however, has not waived the collateralization requirements.

Packet Pg. 652 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
77 Note 2 – Cash and Investments (Continued)
B. Investments
The California Government Investment Code and the investment policy of the City authorize the City to invest in obligations, participation, or other instruments of the U.S. Government or its agencies, state and municipal bonds, commercial paper of “prime” quality of the highest ranking or of the highest letter and numerical rating as provided by Standard & Poor’s Corporation or Moody’s Investor Service, Inc., bankers’ acceptances, repurchase agreements, mortgage pass-through securities, collateralized mortgage obligations, mortgage-backed or other pay-through bonds, equipment lease-backed certificates, consumer receivable pass-through certificates, or consumer receivable-backed bonds, and medium-term notes (issued by U.S. Corporations) of a maximum of five years with a minimum rating category of “A” by a nationally recognized rating service, notes, bonds, or other obligations secured by a valid first priority security interest, and the State Treasurer’s Investment Pool (LAIF).

Reverse repurchase agreements may be made only when prior approval of the City Council has been given.

C. Investments in Local Agency Investment Fund
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 in LAIF at June 30, 2021 included a portion of pool funds invested in Structure 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, the bulk of which are mortgage-backed securities, entitle their purchasers to receive a share of the cash flows from pool of assets such as principal and interest repayments from a pool of mortgages (such as Collateralized Mortgage Obligations) or credit card receivables.

As of June 30, 2021, the City had $162,186,613 invested in LAIF, which had invested 2.31% of the pool investment funds in Structured Notes (1.10%) and Asset-Back Securities (1.21%). LAIF determines the value on its investment portfolio based on market quotations for those securities where market quotations are readily available and based on amortized cost or best estimate for those securities where market value is not readily available. The City valued its investments in LAIF as of June 30, 2021, by multiplying its account balance with LAIF times a fair value factor determined by LAIF. This fair value factor was determined by dividing all LAIF participants’ total aggregate amortized cost by total aggregate fair value. The fair value of the City’s position in the pool is the same as the value of the pool shares. The credit quality rating of LAIF is unrated as of June 30, 2021.

Packet Pg. 653 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
78 Note 2 – Cash and Investments (Continued)
D. Risk Disclosures
Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. As a means of limiting its exposure to fair value losses arising from rising interest rates, the City varies its maturity dates throughout the five-year maturity period. The investments with maturities greater than 5 years pertain to investment agreements within the bond issues. These agreements afford the City long-term fixed interest rates for the duration of the bond issue, with the option to utilize those funds for debt service payments and at the City’s option replenish those funds at the fixed rate until the maturity of the investment agreements. The City has no formal policy regarding interest rate risk.

As of June 30, 2021, the City had the following investments and maturities:

Unrestricted:

Fair Less
Investment Type Value Than 1 1-2 3-4 5
Medium Term Corporate Notes 27,853,285 $ 6,364,435 $ - $ 13,557,775 $ 7,931,075 $ Federal Agency Bonds 54, 10,063,610 657,842 - - 44,594,232 Investment in State Treasurer's
Investment Pool 141,552,564 141,552,564 - - -
Mutual Funds 406,800 406,800 - - -
Total 224,470,491 $ 158,387,409 $ - $ 13,557,775 $ 52,525,307 $ Investments Maturities (in Years)
Restricted:

Fair Less More
Investment Type Value Than 1 1-5 Than 5
Investment in State Treasurer's Investment Pool 20,634,049 $ 20,634,049 $ - $ - $ Mutual Funds 6,645,796 6,645,796 - -
Total $ 27,279,845 27,279,845 $ - $ - $
Investments Maturities (in Years)

Packet Pg. 654 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
79 Note 2 – Cash and Investments (Continued)
D. Risk Disclosures (Continued)
Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating required by (where applicable) the California Government Code, the City's investment policy, or debt agreements, and the actual rating as of year-end for each investment type.

As of June 30, 2021, the City’s investments in Federal Agency Bonds were rated Aaa by Moody’s Investors Service. The City’s investments in Medium Term Corporate Notes were rated A, Aa, and Aaa by Moody’s Investors Service. Investments in LAIF are not rated as LAIF is a State sponsored investment pool. The City policy limits the percentage invested in various instruments by category.

Disclosures Relating to Concentration of Credit Risk
Investments in any one issuer (other than U.S. Treasury securities, mutual funds, and external investment pools) that represent 5% or more of total City investments are as follows:

Issurer Investment Type Amount
Federal Home Loan Bank Federal Agency Securities 24,759,931 $ Federal National Mortgage Association Federal Agency Securities 2 $ 1,348,985 Disclosures Relating to Custodial Credit Risk
The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker-dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code and the City's investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the following provision for deposits.

All securities are held in the name of the City. As a result, the City had no custodial credit risk at June 30, 2021.

Note 3 - Governmental Notes Receivable
Notes receivable represent loan agreements entered into between the City or the former RDA and unrelated nongovernmental entities as part of the City’s redevelopment activities, including single-family home buyer assistance, and real estate development and construction loans. At June 30, 2021, approximately $41.07 million of notes receivable, net of $0.19 million allowance for doubtful accounts, were reported in the Community Development non-major special revenue fund. At June 30, 2021, approximately $14.72 million of notes receivable were reported in the Housing non-major special revenue fund.

Packet Pg. 655 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
80 Note 4 – Interfund Activities
A. Due From and Due To Other Funds
At June 30, 2021, due to and due from other funds balances are as follows:

Due From
Other Funds
Due To Other Funds General Fund Total
Governmental Funds:

Nonmajor Governmental Funds 56,126 $ 56,126 $
Enterprise funds:

Nonmajor Enterprise Funds 1,723,996 1,723,996
Internal Service Funds 3,362 3,362
Total $ 1,783,484 1,783,484 $
Short-term loans recorded as due to and due from other funds were for cash shortages for operations.

B. Interfund Receivable and Payable
At June 30, 2021, interfund receivable and payable balances are as follows:

Electric Internal
Utility Service
Interfund Payable Fund Funds Total
Enterprise Funds:

Nonmajor: Enterprise
funds - $ 107,892 $ 107,892 $
Internal Service Funds 67,649 - 67,649
Total $ 107,892 67,649 $ 175,541 $
Interfund Receivable
Interfund receivables and payables represented the portion of Advances that are expected to be repaid within one year.

Packet Pg. 656 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
81 Note 4 – Interfund Activities (Continued)
C. Advances To and From Other Funds
At June 30, 2021, long-term advances consisted of the followings:

Internal
Electric Service
Utility Funds Total
Governmental funds:

General Fund 4,380,797 $ - $ 4,380,797 $
Non-major: Govermental Funds 233,782 186,912 420,694
Enterprise funds:

Non-major: Enterprise Funds - 3,264,627 3,264,627
Internal Service Funds 101,892 - 101,892
Total $ 3,451,539 4,716,471 $ 8,168,010 $
Advances from other funds
Advances to other funds
a) The Electric Utility loaned the Parking Fund additional funds for another parking structure at the Downtown Mall. The outstanding balance at year-end was $233,782; all of which is classified as long-term. b) The Electric Utility Fund advanced $708,786 to the Information Technology division for the City’s portion of the new telephone system. At year-end the remaining balance is $34,244 all of which is classified as longterm. c) The Electric Utility Fund advanced $270,595 to the Information Technology division to prepay a five year financial transparency software contract. At year-end the remaining balance is $135,297. Of this amount $67,648 is classified as long-term.
d) The Electric Utility Fund advanced $3,621,500 to the General Fund for the replacement of the Redding Soccer Park turf. The outstanding balance of the advance including accrued interest at the City’s average earnings on its pooled cash is $3,698,468; all of which is classified as long-term. e) The General Fund has advanced funds to the Parking Fund to cover operating expenditures. This balance has been transferred to the Risk Management Fund and had a balance of $186,912 at year-end; all of which is classified as long-term.
f) In recent years the General Fund has advanced $8,917,054 to the Airport Fund to finance improvements and operating expenses. The balance was transferred to the Risk Management Fund during the 2009-2010 fiscal year. The Airport Fund has repaid $7,317,670 to date. At year-end the balance was $1,599,384. Of this amount $1,574,384 is classified as long-term.
g) In recent years the General Fund has advanced $1,374,847 to the Convention Center Fund to finance improvements and operating expenses. The balance was transferred to the Risk Management Fund during the 2009-2010 fiscal year. The balance at year-end was $988,128; of this amount $905,236 is classified as long-term at year-end.

Packet Pg. 657 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
82 Note 4 – Interfund Activities (Continued)
h) The Risk Management Fund advanced funds to the Convention Center Fund to finance additional improvements. At year-end the balance was $785,007; all of which is classified as long-term at year-end. i) The Electric Fund advanced funds of $681,400 to the General Fund by paying for a portion of the Redding Police Department’s share of the communication platform overhaul. The outstanding balance of the advance including accrued interest at the City’s average earnings on its pooled cash is $682,329; all of which is classified as long term.

D. Transfer In and Out
The following operating transfers were made during the fiscal year-ended June 30, 2021:

Transfers Out General Fund
Nonmajor
Governmental
Funds
Electric
Fund
Solid
Waste
Nonmajor
Enterprise
Funds
Internal
Service
Funds Total
Governmental Funds:

Major Funds:

General Fund - $ 892,535 $ - $ 29,987 $ 818,187 $ - $ 1,740,709 $ General Capital Projects Fund 708,677 - - - - - 708,677 Nonmajor Governmental Funds 4, - 907,764 - - - - 4,907,764 Enterprise Funds:

Major Enterprise Funds:

Electric 6,097,590 - - - 42,992 330,586 6,471,168
Wastewater - - - - 694,778 - 694,778
Nonmajor Enterprise Funds - 225,000 - - - - 225,000
Internal Service Funds - 1,000 1,000 - 8,000 - 10,000
Total 11,940,031 $ 892,535 $ 1,000 $ 29,987 $ 1,563,957 $ 330,586 $ 14,758,096 $ Transfers In
The reasons for these transfers are set forth below:
 The General Fund transferred a portion of the transient occupancy tax to the Convention Center per City policy.
 The General Fund transferred funds to the Library for operations.  The Airports and Electric Enterprise Funds transfer funds to the General Fund in lieu of property tax.  Within the Nonmajor Governmental Funds, gas taxes and other special revenues are transferred to the General Fund to pay for related expenditures such as street maintenance and public safety. In addition, funds were transferred to the capital project fund to cover portions of qualified projects.  The Electric Utility transferred electric vehicles to Internal Service Fund Fleet and Reprographics as well as an Enterprise Fund (Airport) as part of the Transportation Electrification Program.  Funds transferred for used vehicles purchased internally per City policy between General Fund, Electric, Solid Waste, RABA and Internal Service Funds.

Packet Pg. 658 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
83 Note 5 – Capital Assets
A. Governmental Activities
Summary of changes in capital assets for the year ended June 30, 2021 consisted of the following:

Balance Balance
July 1, 2020 Additions Deletions Transfers June 30, 2021 Total Governmental Activities:

Capital assets, not being depreciated:

Land 34,043,865 $ 2,413,755 $ (145,960) $ 10,125 $ 36,321,785 $ Construction in process 21,376,658 20,439,762 - (9,403,452) 32,412,968 Total capital assets,
not being depreciated 55,420,523 22,853,517 (145,960) (9,393,327) 68,734,753 Capital assets, being depreciated:

Buildings 64,641,179 12,000 - - 64,653,179
Improvements other than buildings 100,377,682 173,279 (22,956) 5,351,884 105,879,889 Infrastructure 325,667,589 3,629,439 - 4,356,265 333,653,293 Automotive equipment 15,879,672 983,435 (685,796) 657,713 16,835,024 Furnishings and equipment 11,142,196 98,233 (437,766) 3,889 10,806,552 Total capital assets,
being depreciated 517,708,318 4,896,386 (1,146,518) 10,369,751 531,827,937 Accumulated depreciation:

Buildings (35,888,158) (2,027,927) - - (37,916,085)
Improvements other than buildings (66,801,018) (3,606,535) 22,956 - (70,384,597) Infrastructure (124,610,031) (9,076,382) - - (133,686,413) Automotive equipment (11,698,883) (918,906) 628,436 (327,127) (12,316,480) Furnishings and equipment (9,121,420) (421,888) 436,611 39,103 (9,067,594) Total accumulated depreciation (248,119,510) (16,051,638) 1,088,003 (288,024) (263,371,169) Total capital assets,
being depreciated, net 269,588,808 (11,155,252) (58,515) 10,081,727 268,456,768 Total governmental activities $ 11,698,265 325,009,331 $ (204,475) $ 688,400 $ 337,191,521 $ Depreciation expense was charged to governmental activities as follows:

Program Depreciation
General government 1,644,012 $
Police 696,373
Fire 430,784
Public works 9,228,025
Recreation and culture 4,042,679
Community development 9,765
Total 16,051,638 $
Packet Pg. 659 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
84 Note 5 – Capital Assets (Continued)
B. Business-Type Activities
Summary of changes in capital assets for the year ended June 30, 2021 consisted of the following:

Balance Balance
July 1, 2020 Additions Deletions Transfers June 30, 2021 Business-Type Activities:

Capital assets, not being depreciated:

Land 20,265,235 $ - $ (137,988) $ - $ 20,127,247 $
Construction in progress 10,262,260 32,990,203 (23,068) (7,214,340) 36,015,055 Total capital assets,
not being depreciated 30,527,495 32,990,203 (161,056) (7,214,340) 56,142,302 Capital assets, being depreciated:

Utility plants 855,513,336 11,802,936 (1,591,348) 6,601,044 872,325,968 Buildings 78,179,411 408,200 - 43,288 78,630,899
Improvements other than buildings 57,077,960 30,852 - 255,186 57,363,998 Automotive equipment 46,383,146 5,480,651 (2,575,070) (649,584) 48,639,143 Furnishings and equipment 31,320,131 1,766,991 (1,250,906) (12,018) 31,824,198 Total capital assets, being depreciate 19,489,630 1,068,473,984 (5,417,324) 6,237,916 1,088,784,206 Less accumulated depreciation for:

Utility plants (459,361,006) (22,634,482) 1,345,581 - (480,649,907) Buildings (45,455,172) (2,189,250) - - (47,644,422)
Improvements other than buildings (30,689,103) (1,869,544) - - (32,558,647) Automotive equipment (26,472,915) (3,366,158) 2,405,459 313,565 (27,120,049) Furnishings and equipment (20,866,248) (2,481,644) 1,235,814 (25,541) (22,137,619) Total accumulated depreciation (582,844,444) (32,541,078) 4,986,854 288,024 (610,110,644) Total capital assets,
being depreciated, net 485,629,540 (13,051,448) (430,470) 6,525,940 478,673,562 Total business-type activities $ 19,938,755 516,157,035 $ (591,526) $ (688,400) $ 534,815,864 $ Depreciation expense was charged to the business-type activities as follows:

Program Depreciation
Electric 14,142,017 $
Water 3,670,489
Wastewater 7,810,350
Storm drainage 989,629
Solid waste 2,640,706
Airport 1,767,988
RABA 1,444,150
Convention center 75,749
Total 32,541,078 $

Packet Pg. 660 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
85 Note 6 – Power Acquisition Costs
The Redding Electric Utility (REU) entered into an agreement in 1986 with the Western Area Power Administration (WAPA) to build a second interconnection point between REU’s internal electric 115kv transmission grid and the surrounding WAPA 230kv transmission grid. REU paid WAPA to build the Airport Road Substation to affect this connection and convert the 230kv surrounding power to 115kv for use on REU’s lines. After completion, REU gained title to the 115kv side of the substation, while WAPA retained ownership of the 230kv side. Since REU paid for the construction of the 230kv side and benefits from its presence, the cost of this has been set up as an asset and is being amortized over the 34 year useful life of the substation.

Power Acquisition Cost 3,470,314 $
Less: Amortization (3,332,962)
Power Acquisition Cost, Net 137,352 $
For the year ended June 30, 2021, amortization expense was $102,068.

Note 7 – Storage Base Gas
Redding Electric Utility (REU) entered into a natural gas lease agreement on August 28, 2009 with Gill Ranch Storage, LLC (GRS) in which GRS (Lessee) would provide firm natural gas storage service to REU (Lessor). The firm storage service is provided at the GRS facility in Madera County, California, near the City of Fresno. 2,250,000 Dth of natural gas was initially acquired by REU for GRS’ use as base gas under the lease at a total cost of $11,850,000. Additionally, in order to effect the right to offset provisions per the lease contract between REU and GRS, REU paid GRS an amount equal to $1,720,000. The total cost to REU to implement this lease agreement was $13,570,000. The lease arrangement dictates that GRS shall make monthly payments to REU as rent for the base gas in an amount equal to $100,000 per month. If REU does not purchase and deliver to GRS the base gas then GRS shall not be required to pay rent to REU. As of June 30, 2021, the lease agreement between Redding Electric Utility and Gill Ranch Storage, LLC continues to be in effect.

Note 8 – Unavailable Revenue
On the fund financial statements, unavailable revenue consisted of the following as of June 30, 2021:

General Non Major
General Capital Projects Governmental
Fund Fund Funds Total
Unavailable revenues:

Sales tax 82,765 $ - $ - $ 82,765 $
Property taxes 679,024 - 679,024
Grant revenue 465,458 15,546,806 372,327 16,384,591
Shasta Area Safety
Communications Agency rents 209,312 - - 209,312
Housing loans - principal and
interest - - 4,622,820 4,622,820
HUD funds - - 22,314 22,314
Total 1,436,559 $ 15,546,806 $ 5,017,461 $ 22,000,826 $

Packet Pg. 661 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
86 Note 9 – Long-Term Debt
Summary of changes in long-term debt for the year ended June 30, 2021, is as follows:

Balance Balance Due within Due in more
July 1, 2020 Additions Deletions June 30, 2021 One Year than One Year Governmental Activities:

Long-term debt:

Revenue bonds 31,447,616 $ - $ (1,853,967) $ 29,593,649 $ 1,954,753 $ 27,638,896 $ Long-term debt before
unamortized amounts 31,447,616 - (1,853,967) 29,593,649 1,954,753 27,638,896 Bond premium 3,130,789 - (130,904) 2,999,885 130,904 2,868,981 Bond discount (47,106) - 4,977 (42,129) (3,988) (38,141) Total govermental activities
long-term debt 34,531,299 - (1,979,894) 32,551,405 2,081,669 30,469,736 Business-type activities:

Long-term debt:

Revenue bonds 118,722,383 52,420,000 (12,826,033) 158,316,350 12,555,248 145,761,102 State loans payable 64,800,896 - (63,589,332) 1,211,564 83,126 1,128,438 Long-term debt before
unamortized amounts 183,523,279 52,420,000 (76,415,365) 159,527,914 12,638,374 146,889,540 Bond premium 15,385,644 12,075,580 (2,030,999) 25,430,225 2,236,068 23,194,157 Bond discount (973) - 773 (200) (200) -
Total business-type activities
long-term debt 198,907,950 64,495,580 (78,445,591) 184,957,939 14,874,242 170,083,697 Total long-term debt $ 64,495,580 233,439,249 $ (80,425,485) $ 217,509,344 $ 16,955,911 $ 200,553,433 $

Packet Pg. 662 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
87 Note 9 – Long-Term Debt (Continued)
Governmental Business-type
Activities Activities
Revenue Bonds:
2020 Wastewater Revenue Bonds Series A:

The 2020 Wastewater Revenue Bonds were issued to refinance the twelve (12) State Water Resource Control Board (SWRB) loans, which were issued to finance capital improvements to the City's wastewater system and costs of issuance for the 2020 Bonds. Serial Bonds of $52,420,000 bear interest at 5%, payable December 1 and June 1; maturities are payable June 1 in annual redemptions from $185,000 to $5,010,000; final payment due June 1, 2036. The payments are payable from operating revenue of the Wastewater Utility Fund. The 2020 Bonds are special obligations of the City payable solely from and secured by a pledge of and lien on Net Revenues of the Wastewater System and all monies on deposit in the Wastewater Revenue Fund. $ 47,410,000 - $
2018 Electric System Revenue Bonds Series A:

The 2018 Electric System Revenue Bonds were issued to prepay and refund a portion of the City's outstanding 2008 A Electric System COP's and pay costs of issuance for the 2018 Bonds. Serial Bonds of $39,510,000 bear interest from 4.0% to

5.0%, payable on December 1 and June 1; maturities are payable June 1 in annual redemptions from $2,800,000 to $4,020,000; final payment due June 1, 2030. The payments are payable from operating revenues of the Electric Utility Fund. The 2018 Bonds are special obligations of the City payable solely from and secured solely by a pledge of and lien on Net Revenues of the Electric system and all monies on deposit in the Electric Revenue Fund of the City. 30,715,000 - $ 2017 Electric System Revenue Bonds Series A:

The 2017 Electric System Revenue Bonds were issued to prepay and refund a portion of the City's outstanding 2008 A Electric System COP's and pay costs of issuance for the 2017 Bonds. Serial Bonds of $55,785,000 bear interest from 3.0% to

5.0%, payable on December 1 and June 1; maturities are payable June 1 in annual redemptions from $750,000 to $6,165,000; final payment due June 1, 2030. The payments are payable from operating revenues of the Electric Utility Fund. The 2017 Bonds are special obligations of the City payable solely from and secured solely by a pledge of and lien on Net Revenues of the Electric system and all monies on deposit in the Electric Revenue Fund of the City. 45,525,000 -

Packet Pg. 663 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
88 Note 9 – Long-Term Debt (Continued)
Governmental Business-type
Activities Activities
Revenue Bonds: (Continued)
2015 Electric System Revenue Bonds Series A:

The 2015 Electric System Revenue Bonds were issued to finance the costs of designs, acquisition and construction of new administrative building for the electric utility of the City of Redding and to refinance the 2005 Electric Certificates of Participation Bonds, which were used to provide funds to finance costs of acquisition and construction of certain additions, betterments and improvements to the City’s electric system. Serial Bonds of $37,955,000 bear interest from 2.0% to

5.0%, payable on December 1 and June 1; maturities are payable June 1 in annual redemptions from $335,000 to $2,925,000; final payment due June 1, 2035. The payments are payable from operating revenues of the Electric Utility Fund. The 2015 Bonds are limited obligations of the Authority payable solely from Revenues of the Authority, consisting primarily of certain installment sale payments to be made by the City to the Authority pursuant to a 2015 Installment Sale Agreement, dated as of December 1, 2015 by and between the City and the Authority. 33,055,000 -
2013 Water and Wastewater Revenue Bonds Series A:

The 2013 Water Revenue Bonds were issued to refinance the 2003 Water Revenue Bonds which were used to refinance the 1993 Water Revenue Bonds, which were originally issued to finance capital improvements to the City’s water system. The 2013 Wastewater Revenue Bonds were issued to refinance the 2002 Wastewater Revenue Bonds which were used to refinance wastewater debt and wastewater’s portion of the corporation yard debt. Serial Bonds of $14,730,000 bear interest from

2.0% to 5.0%, payable on December 1 and June 1; maturities are payable June 1 in annual redemptions from $625,000 to $2,095,000; final payment due June 1, 2023.

The Water portion is payable from the operating revenues of the Water Utility Fund and the Wastewater portion is payable from the Wastewater operating revenues of the Wastewater Utility Fund. The Refunding Bonds are payable from, and secured by a lien on, certain payments (Installment Sale Payments) received by the Authority from the City under the Water Installment sale Agreement and under the Wastewater Installment Sale Agreement and from certain interest and other income derived from certain funds and accounts held under the Trust Agreement. 1,380,000 -

Packet Pg. 664 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
89 Note 9 – Long-Term Debt (Continued)
Governmental Business-type
Activities Activities
Revenue Bonds: (Continued)
2013 Lease Revenue Bond, Series B and Series C:

Issued to finance the construction of the Redding Police Building and refinance the 2003 Aquatic Center, the Sports Complex, SHASCOM, Convention Center and the Municipal Airport, which was to refinance the 1993 Lease Revenue Bonds for SHASCOM, Convention Center and the Municipal Airport. Payable from the operating revenues of the Redding Aquatic Center, Sports Complex, SHASCOM, Convention Center, and Municipal Airport Funds. The security of the bonds is the title to the City's existing Police Facility, it's Shascom communication facility, the Redding Aquatic Center and the land on which the to-be-constructed Police Facility will be located to the Authority, and the City will lease back the Leased Property from the Authority pursuant to the Facilities Lease.

Series B, Serial/Term Bonds:

Serial Bonds interest from 2% to 4.5% payable on April 1 and October 1; maturities payable annually on October 1 in annual redemptions from $235,000 to $460,000; final payment due October 1, 2025. Original issue $9,740,000. Term Bonds, (1) bear interest at 5.0% maturity payable on October 1, 2028, in the amount of $800,000; (2) bear interest at 5.25%, maturity payable on October 1, 2033, in the amount of $1,650,000; (3) bear interest at 5.50% maturity payable on October 1, 2043, in the amount of $2,840,000. 231,350 6,858,649
Series C, Serial/Term Bonds:

Serial Bonds interest from 3.75% to 6.5% payable on April 1 and October 1; maturities payable on October 1 in annual redemptions from $75,000 to $180,000; final payment due October 1, 2032. Term Bonds, (1) bear interest at 3.75%, maturity payable October 1, 2018 in the amount of $390,000; (2) bear interest at 5.35%, maturity payable on October 1, 2024 in the amount of $585,000; and (3) bear interest at 6.5%, maturity payable on October 1, 2032, in the amount of $1,160,000. 1,570,000 -

Packet Pg. 665 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
90 Note 9 – Long-Term Debt (Continued)
Governmental Business-type
Activities Activities
Revenue Bonds: (Continued)
2019 Lease Revenue Bond, Series A:

Issued to refinance the 2004 Capital Project Series A & B, 2004 Civic Center Refunding Series C, and the 2007 Capital Projects Series A and to finance acquisition and construction of capital projects within the City of Redding. Payable from the revenues generated pursuant to the Facilities Lease between the Redding Joint Powers Financing Authority (Authority) and the City of Redding whereby the City has transfered title to its Civic Center and leases it back from the Authority.

Serial Bonds interest of 5.0%, payable on April 1 and October 1; maturities payable on April 1 from $695,000 to $1,575,000; final payment on April 1, 2037. Original issue:
$24,085,000. Term Bonds bear interest at (1) 3.125% maturity payable on April 1, 2039 in the amount of $1,200,000; and (2) bear interest at 3.25% maturity payable on April 1, 2044 in the amount of $3,355,000. - 21,165,000
Total Revenue Bonds: $ 158,316,350 29,593,649 $
State Loans:
2013 California Airport Loan (Benton):

Original loan amount was $350,000. Annual installments are $28,005, including interest at 3.655% payable May 28, maturity payable on May 28, 2031. The purpose of the loan is for repairs to the California Highway Patrol Hangar at Benton Airpark. 231,097 - 2015 California Airport Loan (Municipal):

Original loan amount was $1,100,000. Annual installments of $79,106, including interest at 2.33% payable June 1, maturity payable on June 1, 2033. The purpose of the loan is for the PV Solar Array Lease Purchase at the Redding Municipal Airport. 817,706 - 2018 California Airport Loan (Municipal):

Original loan amount was $190,000. Annual installments of $14,286, including interest at 2.87% payable March 1, maturity payable on March 1, 2035. The purpose of the loan is for the contruction of a new hangar roof and other exterior improvements at the Benton Airpark. 162,761 -
Total State Loans $ 1,211,564 - $
Packet Pg. 666 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
91 Note 9 – Long-Term Debt (Continued)
Governmental Business-type
Activities Activities
Summary of Outstanding Debt:

Total outstanding debt $ 159,527,914 29,593,649 $
Add: Bond Premium 25,430,225 2,999,885
Less: Bond Discount (200) (42,129)
Total Outstanding Debt, Net of Premiums and Discounts $ 184,957,939 32,551,405 $ Current year amortization expense for bond premiums and discounts was $125,927 for the governmental activities and $2,030,226 for the business-type activities.

The annual requirements to amortize all debt outstanding as of June 30, 2021, excluding obligations associated with bond premiums (discounts) are as follows:

Year Ending
June 30, Principal Interest Principal Interest Principal Interest 2022 1,954,753 1,412,696 12,638,375 7,797,714 14,593,128 9,210,410 2023 2,034,111 1,317,802 14,776,371 7,181,784 16,810,482 8,499,586 2024 1,639,784 1,218,554 13,628,119 6,473,496 15,267,903 7,692,050 2025 1,555,000 1,142,226 14,225,397 5,796,343 15,780,397 6,938,569 2026 1,640,000 1,064,377 14,937,958 5,087,033 16,577,958 6,151,410 2027-2031 5,950,000 4,311,258 71,920,790 13,547,809 77,870,790 17,859,067 2032-2036 6,745,001 2,638,855 17,400,904 1,669,513 24,145,905 4,308,368 2037-2041 4,985,000 1,151,715 - - 4,985,000 1,151,715
2042-2046 3,090,000 222,003 - - 3,090,000 222,003
Total $ 14,479,486 29,593,649 $ 159,527,914 $ 47,553,692 $ 189,121,563 $ 62,033,178 $ Governmental Activities Business-Type Activities Government-Wide

Packet Pg. 667 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
92 Note 10 – Pledged Revenue
Revenue Pledged
Borrowing
Fund/Entity Bond/Loan Use of Funds
Year of Loan or
Year Repayments
and/or Interest
Payments Began
Original
Issue/Loan
Amount
Net Revenues Water Utility Bond Refund prior debt
issues.
2013 6,165,000 $
Net Revenues Wastewater
Utility
Bond Refund prior debt
issues. (SRF Loan)
2020 52,420,000
Net Revenues Wastewater
Utility
SRF Loan* Clear Creek WWTP
Ph I
2009 4,360,035
Net Revenues Plus
Reserves
Electric Utility Bond Refund prior debt 2015 37,955,000 Net Revenues Plus
Reserves
Electric Utility Bond Refund prior debt 2017 55,785,000 Net Revenues Plus
Reserves
Electric Utility Bond Refund prior debt 2018 39,510,000 * State Revolving Fund loan from the State Water Resources Control Board (SWRCB).

Packet Pg. 668 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
93 Note 10 – Pledged Revenue (Continued)
Payments
Amortized
Thru
Estimated % of
Pledged
Revenue
Required for
Debt Service
Estimated % of
Pledged
Revenue Plus
Reserves
Required for
Debt Service
Remaining
Principal &
Interest
Current Year
Principal &
Interest Paid
Current Year
Pledged
Revenue
Available
Reserve
Balance
2023 6% 1,463,400 $ 731,200 $ 11,460,154 $ - $
2036 41% 62,319,000 6,553,478 15,848,676 -
2027 2% - 272,605 15,848,676 -
2035 9% 2% 45,120,485 2,316,570 27,147,291 87,201,242
2030 21% 5% 57,747,250 5,699,250 27,147,291 87,201,242
2030 18% 4% 38,738,750 4,764,500 27,147,291 87,201,242

Packet Pg. 669 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
94 Note 11 – Compensated Absences
The compensated absences liability will be paid from the General Fund, Housing Authority, Community Development, Airports, Electric Utility, Water Utility, Wastewater Utility, Solid Waste Utility, Storm Drainage Utility, Equipment Fund, Information Systems, General Support Services, Risk Management and Municipal Utility Support.

The City’s changes in compensated absences for the year ended June 30, 2021 were as follows:

Balance Balance Due within Due in More
July 1, 2020 Additions Deletions June 30, 2021 One Year Than One Year Governmental activities 11,750,893 $ 5,904,116 $ (5,393,665) $ 12,261,344 $ 3,984,718 $ 8,276,626 $ Business-type activities 7,538,551 4,531,554 (3,677,339) 8,392,766 2,653,836 5,738,930 Total 19,289,444 $ 10,435,670 $ (9,071,004) $ 20,654,110 $ 6,638,554 $ 14,015,556 $

Packet Pg. 670 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
95 Note 12 – Self-Insurance
The City administers self-insurance programs for general liability and workers’ compensation. These programs are accounted for in the Risk Management Fund. Liability for each claim is estimated on a case-by-case basis for all pending claims. There has been no significant reduction in any of the insurance coverages from the prior year. Costs in the City’s Risk Management Fund have not exceeded charges to the various funds of the City and its component units. Settled claims resulting from these risks have not exceeded co-insurance plan coverage or commercial insurance coverage in any of the past three fiscal years. The City is also self-insured for health benefits and is a member of CSAC Excess Insurance Authority which administers the health benefits program.

Employee Health Insurance - The City is part of the California Public Entity Public Insurance Authority, a joint powers authority. The Risk Management Fund recognizes revenue from fund charges and accounts for actual expenditures. Funds determined to be at risk are charged estimated claims expense based on salary. The interfund charges are reported as an expense or expenditure in the at risk fund. The estimated liability for pending and incurred but not reported employee health insurance claims relating to July 1, 2020 and prior at June 30, 2021, has been included as an accrued liability in the risk management internal service fund.

Workers’ Compensation Insurance is administered as a co-insurance plan. The City is self-insured up to $750,000 with an insurance company co-insuring claims from $750,001 to $50,000,000. Funds determined to be at risk are charged a percentage of the total estimated insurance and claim expense. Percentages are based upon loss experience and salary costs. The interfund charges are reported as an expense or expenditure in the fund at risk. The estimated liability for pending and incurred but not reported claims at June 30, 2021, has been included in the Risk Management Fund’s claims payable amount as of June 30, 2021.

General Liability Insurance is self-administered and is self-insured up to $750,000. Any claims from $750,001 to $40,000,000 are administered through a governmental pooling joint powers authority, California Joint Powers Risk Management Authority. The Risk Management Fund recognizes revenue from fund charges and accounts for actual expenditures. Funds determined to be at risk are charged a percentage of the total estimated insurance and claim expense. Percentages are based upon loss experience and salary. The interfund charges are reported as an expense or expenditure in the funds at risk. Incurred but not reported claims liability has been included in the claims payable amount as of June 30, 2021.

Property Insurance is administered as a co-insurance plan. The City is self-insured for claims up to $250,000 for all Risk and $500,000 for Wildfire. An insurance company co-insures claims over $250,000 for all Risk and $500,000 for Wildfire. Additionally, the City has acquired coverage for the Redding Power Plant up to $100,000,000 with various sub-limits and deductibles for different types of losses. The Risk Management Fund recognizes revenue from fund charges and accounts for actual expenditures. Funds determined to be at risk are charged a percentage of the total estimated insurance and claim expense. Percentages are based upon loss experience and salary costs. The interfund charges are reported as an expense or expenditure in the funds at risk. Incurred but not reported claims liability has been included in the claims payable amount as of June 30, 2021.

Packet Pg. 671 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
96 Note 12 – Self-Insurance (Continued)
The following is a reconciliation of changes in claims liability amounts for fiscal years ended June 30, 2021:

Claims Claims
For the Years Payable Claims Claims Payable Due within Due in More Ended June 30, July 1, Incurred Payments June 30, One Year Than One Year Workers' Compensation
2019 15,630,900 2,615,587 (2,340,137) 15,906,350 3,630,440 12,275,910 2020 15,906,350 399,795 (2,739,855) 13,566,290 3,222,190 10,344,100 2021 13,556,290 2,024,198 (2,036,288) 13,554,200 3,325,620 10,228,580 General Liability
2019 1,703,870 356,503 (633,503) 1,426,870 945,390 481,480 2020 1,426,870 1,555,907 (568,817) 2,413,960 2,188,880 225,080 2021 2,413,960 1,298,173 (750,213) 2,961,920 639,000 2,322,920 Health and Dental
2019 126,700 22,333,475 (22,372,665) 87,510 87,510 -
2020 87,510 23,305,218 (23,281,738) 110,990 110,990 -
2021 110,990 24,386,443 (24,398,343) 99,090 99,090 -
Total
2019 17,461,470 25,305,565 (25,346,305) 17,420,730 4,663,340 12,757,390 2020 17,420,730 25,260,920 (26,590,410) 16,091,240 5,522,060 10,569,180 2021 16,081,240 27,708,814 (27,184,844) 16,615,210 4,063,710 12,551,500 Note 13 – Individual Fund Disclosures
The following fund reported a deficit fund balance as of June 30, 2021:

Information Systems Fund – The deficit of $3,062,119 in this fund resulted from the City funding Internal Service Funds on a cash flow basis. Until the City funds the Other Post Employment Benefit (OPEB) and the pension liability, this fund will continue to have a deficit balance.

General Support Services Fund – The deficit of $3,068,699 in this fund resulted from the City funding Internal Service Funds on a cash flow basis. Until the City funds the Other Post Employment Benefit (OPEB) and the pension liability, this fund will continue to have a deficit balance.

Municipal Utilities Support Fund – The deficit of $5,526,015 in this fund resulted from the City funding Internal Service Funds on a cash flow basis. Until the City funds the Other Post Employment Benefit (OPEB) and the pension liability, this fund will continue to have a deficit balance.

Risk Management Fund – The deficit of $2,853,955 in this fund resulted from the City funding Internal Service Funds on a cash flow basis. Until the City funds the Other Post Employment Benefit (OPEB) and the pension liability, this fund will continue to have a deficit balance.

Packet Pg. 672 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
97 Note 14 – Joint Ventures
The City participates in the following four joint ventures:
 M-S-R Public Power Agency
 M-S-R Energy Authority
 Transmission Agency of Northern California
 Balancing Authority of Northern California
A. M-S-R Public Power Agency
M-S-R Public Power Agency (the Power Agency) was formed in 1980 by the Modesto Irrigation District (MID) and the Cities of Santa Clara and Redding, California, pursuant to Section 6500, et seq., of the California Government Code. The Agency was formed to conduct research and exploration for energy sources to provide additional electric power for the electric distribution systems of its members.

The Agency is governed by a Commission which consists of one member from each of the Power Agency’s members. For action, the Commission must have a quorum (minimum of two members) present, and there must be a unanimous vote of all Commissioners present. The Treasurer of the Power Agency is designated by the Joint Powers Agreement to be the Treasurer/Controller of MID. The selection of other management positions is made by the Commission from the personnel of its members. These functions are performed without compensation to the members.

The members’ rights, property, income, and expense-sharing ratio in most all Power Agency activities prior to April 2018 are as follows: Modesto Irrigation District - 50%, City of Santa Clara - 35%, and City of Redding - 15%. The debt service through 2022, declining on-going administrative activities and other remaining obligations and costs associated with the San Juan Power Plant (described below), will remain at the 50% - 35% - 15% ratio.

The majority of activities after April 2018 will be related to renewables (Big Horn Wind energy project described below). Coordinating, regulatory, and compliance services costs will be shared as follows: Modesto Irrigation District – 40%, City of Santa Clara – 40%, and City of Redding – 20%. Renewable administrative services, electric product, delivery and environmental attribute rights, benefits and costs will be shared by contracted participation ratios as described below.

The activities of M-S-R consist of a previous 28.8% ownership interest in a 498-megawatt coal-fire electricity generating plant located in New Mexico (the “San Juan” plant). The San Juan plant began commercial operation in 1982 and had been owned jointly by the Public Service Company of New Mexico (38.5%), M-S-R (28.8%), and four other municipal power entities (32.7%).

Packet Pg. 673 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
98 Note 14 – Joint Ventures (Continued)
A. M-S-R Public Power Agency (Continued)
The owners of the San Juan Generation Station have approved an ownership restructuring of the San Juan Generation Station effective December 31, 2017 under which M-S-R’s (and thereby the City’s) interest in the station and its generation will be transferred to the remaining owners. Definitive agreements for the proposed ownership restructuring of the San Juan Generation Station have been executed by all nine San Juan Generation Station owners and the Public Service Company of New Mexico Resources (PNMR).

With the ownership restructuring of the San Juan Generation Station, M-S-R Public Power Agency sold its interest of the Southwest Transmission on May 25, 2016. Proceeds of the sale of the Southwest Transmission Project assets were applied primarily to the defeasance of a portion of M-S-R Public Power Agency’s outstanding revenue bonds, and to fund certain deposits for future payments to the plant decommissioning trust fund, and to the mine reclamation trust fund established under the agreements relating to the ownership restructuring of the San Juan Generation Station. At this time Redding and M-S-R have no ongoing or regular cash called expenses with regard to this divested asset other than administrative and existing bonds to expire in 2022.

Additionally, in 2005, M-S-R entered into a 20-year power purchase agreement with PPM Energy, Inc.—now known as Avangrid Renewables, LLC (Avangrid—formerly Iberdrola Renewables) to procure 100% of the output from the Big Horn Wind Energy facility located near the town of Bickleton in Klickitat County, Washington. The project began commercial operation in October of 2006. The facility is interconnected through an 11 mile transmission line with the Bonneville Power Administration’s Spring Creek Substation. Redding receives a 35% share of the 199.5 MW project, while Santa Clara and Modesto receive 52.5% and 12.5% respectively.

In addition to the procurement of energy from the Big Horn Wind Energy facility, the Power Agency has also signed an agreement with Iberdrola Renewables—now known as Avangrid—to procure shaping and firming services for the output of the Big Horn facility. Through this agreement, Avangrid receives 100% of the output from the Big Horn facility as generated, and delivers such energy to M-S-R at the California-Oregon Border pursuant to firm pre-established delivery schedules.

Summary audited financial information of the M-S-R Public Power Agency as of and for the year ended December 31, 2020 is as follows (in thousands):

Total assets & deferred outflows 80,468 $ Total revenues 89,961 $ Total expenses (58,535)
Total liabilities & deferred Inflows 82,761 $
Total members' deficit (2,293) Net income 31,426
Total liabilities & members' deficit 80,468 $ Members' deficit, January 1, 2020 (30,419) Member distributions (3,300)
Members' deficit, December 31, 2020 (2,293) $
Packet Pg. 674 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
99 Note 14 – Joint Ventures (Continued)
A. M-S-R Public Power Agency (Continued)
The debt of the Power Agency is comprised entirely of revenue bonds totaling $52 million. These bonds are secured by a pledge and assignment of the net electric revenues of the Power Agency and are supported by takeand-pay commitments of the participants.

On June 13, 2018, bonds in the amount of $98,850,000, the 2018R bonds, were issued with an average interest rate of 4.71% to refund; $88,000,000 of the outstanding 2008L bonds with an average interest rate of 5.00%, and $30,595,000 and $14,685,000 of the outstanding variable interest rate 2008M and 2008N bonds, respectively.

The net proceeds of the 2018R bonds plus $33,257,000 of restricted funds on hand were used to prepay the outstanding debt service requirements on the old bonds.

The cash flow requirements on the old bonds prior to the current refunding was $150,475,000 from 2018 through 2022. The cash flow requirements on the new bonds are $110,992,000 from 2018 through 2022. The current refund resulted in an economic gain of $5,147,000.

The City utilizes the equity method of accounting for M-S-R Public Power Agency. The City has invested $17.4 million in this joint venture. However, operating losses have caused the City to have a deficit equity in the Power Agency of $344 thousand at December 31, 2020. Because the City’s equity in M-S-R’s net loss exceeds its investment, the equity method of accounting for the investment has been suspended. At the time the equity investment value of the Agency becomes a positive amount, the electric utility fund will resume presenting such values in its balance sheet. Under the joint exercise of power agreement, which formed M-S-R, the City is responsible for funding up to 15% of M-S-R’s operating costs, to the extent such funding is necessary. During the year ended June 30, 2021, the City made no contributions to fund its share of operating deficits. If there were such contributions, they would be included in operating expenses.

B. M-S-R Energy Authority
The Modesto Irrigation District, the City of Santa Clara, and the City of Redding formed M-S-R Energy Authority for the principal purpose to acquire, construct, maintain, operate and finance projects for the benefit of any one or more of the Members. On September 10, 2009, the Authority entered into a series of thirty-year prepaid gas contracts with Citigroup Energy, Inc., which are financed by non-recourse revenue bonds. The M-SR Energy Authority also entered into matching Natural Gas Supply Agreements (“Supply Agreements”) whereby each member is obligated to purchase the natural gas from the Authority at a discount from the Index Price. The Supply Agreements will continue in effect until September 30, 2039, unless terminated earlier due to certain defaults, as set forth therein, or the termination of the matching prepaid gas contract. If the M-S-R Energy Authority fails on any day to deliver the quantity of natural gas required to be delivered pursuant to a Supply Agreement, the member will have no obligation for any of the natural gas supply that was not delivered as a result of such delivery default.

The equity of the M-S-R Energy Authority is split between the members based on the revenues and expenses applicable to each individual member’s Supply Agreement. Redding’s equity in the M-S-R Energy Authority’s net losses exceeds its investment and, therefore, the equity method of accounting has been suspended. As of December 31, 2020, the City’s unrecognized share of member’s deficit of the M-S-R Energy Authority was $113,660,198.

The long term debt of the M-S-R Energy Authority totaled $891,235,000 at December 31, 2020. The M-S-R Energy Authority did not make any principal payments in 2020.

Packet Pg. 675 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
100
Note 14 – Joint Ventures (Continued)
B. M-S-R Energy Authority (Continued)
Summarized financial information of M-S-R Energy Authority as of and for the year ended December 31, 2020, is as follows (in thousands):

Total assets & deferred outflows 901,862 $
Total liabilities & deferred inflows 901,862 $
Total net position - $
Total liabilities and net position 901,862 $
Net increase (decrease) in net position - $
C. Transmission Agency of Northern California
The Transmission Agency of Northern California (TANC) is a joint powers agency organized for the principal purpose to provide electric transmission or other facilities for the use of its members. The City has an 8.41% ownership interest in TANC equating to a $5,146,786 member’s equity balance at June 30, 2021. The first transmission construction project undertaken by TANC was the development of the California-Oregon Transmission Project (COTP). The project is a 339 mile long, 500 kilovolt alternating current transmission project between southern Oregon and central California. In 2009, TANC purchased an additional 121 megawatts (MW) of COTP transfer capability from the City of Vernon. TANC’s new ownership share of COTP transfer capability is 1367 MW and TANC pays 87% of the operating costs. The City’s share of the project is 115 MW.

Also TANC receives from Pacific Gas and Electric Company (PG&E) 300 MW of bi-directional transmission service over PG&E’s system between the Tesla and Midway Substations. The City’s share of this South of Tesla agreement is 10.33% at June 30, 2021.

The debt of the Transmission Agency of Northern California is comprised entirely of revenue bonds totaling $169,945,000. These bonds are secured by a pledge and assignment of the net electric revenues of the Agency and are supported by take-and-pay commitments of the participants.

Investment in JPA $ 5,146,786 .

Summarized financial information of TANC as of and for the year ended June 30, 2021, is as follows (in thousands):

Total assets & deferred outflows 361,271 $
Total liabilities & deferred inflows 297,121 $
Total net position 64,150
Total liabilities and net position 361,271 $
Net increase (decrease) in net position 11,710 $

Packet Pg. 676 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
101
Note 14 – Joint Ventures (Continued)
D. Balancing Authority of Northern California

The Balancing Authority of Northern California (BANC) is a joint powers agency consisting of the Sacramento Municipal Utility district (SMUD), Modesto Irrigation District (MID), Roseville Electric and City of Redding-Electric Utility (REU) as its founding members as was formed in 2009. Subsequent to its formation, Trinity Public Utilities District (TPUD) and Shasta Lake Public Utility District (SLPUD) have joined as new members. REU participates in BANC through the Western sub-balancing authority. BANC assumed the balancing authority responsibilities on May 1, 2011, from SMUD that include the matching of generation to load and coordinating system operations with neighboring Balancing Authorities. The Central Valley Project (CVP) generation, owned by the Bureau of Reclamation and Western Area Power Administration’s transmission facilities along with the 500 kV California Oregon Transmission Project (COTP), are included among other resources within the BANC footprint. BANC members contract for about 40 percent of the CVP hydroelectric resource. The COTP is jointly owned by several parties including WAPA and BANC members via the Transmission Agency of Northern California (TANC).

BANC provides its members an ownership voice in all balancing authority decisions consistent with the principle of maximizing consumer value. It also provides members a unified voice and representation in topics pertaining to Balancing Area matters. The structure provides flexibility to expand potential cost-saving opportunities by sharing future facility costs and clarifies roles and responsibilities of the members regarding reliability standard compliance.

The member’s rights and expense-sharing is based on the participation percentages in most BANC activities.

BANC member’s participation percentages are based on the member’s retail sales and stands at 70.1%, 16.2%,

7.6%, 4.8%, and 1.3% for SMUD, MID, Roseville, REU, and Shasta Lake respectively. These participation percentages can be updated as the need requires.

Summarized financial information of BANC as of and for the year ended December 31, 2020, is as follows (in thousands):

Total assets & deferred outflows 8,125,152 $
Total liabilities & deferred inflows 8,125,152
Total net position -
Total liabilities and net position 8,125,152 $
Net increase (decrease) in net position - $
Complete separate financial statements for each of the joint ventures in which the City participates may be obtained from the City of Redding Finance Department, 777 Cypress Avenue, Redding, California 96001.

Packet Pg. 677 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
102
Note 14 – Joint Ventures (Continued)
E. Contingent Liability
Under the terms of the various joint venture agreements, the City is contingently liable for a portion of the longterm debt of the entities under take-or-pay agreements, letters of credit, guarantees or other similar agreements.

Based on the most recent audited financial statements of the individual joint ventures, the City is contingently liable for long-term debt as follows:

Total City of Redding's City of Redding's
Debt Participating Share Contingent liability
M-S-R (1):

Bonds 51,595,000 $ 15.000% 7,739,250 $
TANC (2)
Bonds (2016A) 169,945,000 8.3912% 14,260,459
TANC subtotal 169,945,000 14,260,459
Total 221,540,000 $ 21,999,709 $
(1) As of December 31, 2020
(2) As of June 30, 2021
In addition, the City would be, under certain conditions, liable to pay a portion of costs associated with the operations of the entities. Under certain circumstances, such as default or bankruptcy of the other participants, the City may also be liable to pay a portion of the debt of these joint ventures on behalf of those participants and seek reimbursement from those participants. These costs are not measurable at this time.

Note 15 – Postclosure Care Costs
State and federal laws and regulations required the City to place a final cover on Benton Landfill, which closed in 1990. The City has completed the final cover and other closure items required. The City is also required under state and federal laws and regulations to perform certain maintenance and monitoring functions at the landfill site for the next 15 years. The remaining estimated liability for landfill postclosure care cost was $2,390,240 as of June 30, 2021, as shown in the table below. The total estimated cost of the landfill postclosure care is based on the amount that would be paid if all services required to monitor and maintain the landfill were acquired as of June 30, 2021.

There is no requirement to currently fund this amount. The cost for postclosure care at the landfill and additional costs that might arise from changes in postclosure requirements (due to changes in technology or more rigorous environmental regulations, for example) will be covered by charges to Solid Waste rate payers.

Changes in postclosure care costs for the year ended June 30, 2021, were as follows:

Balance Balance Due within Due in More
July 1, 2020 Additions Deletions June 30, 2021 One Year Than One Year Postclosure care liability 2,361,897 $ 169,536 $ 141,193 $ 2,390,240 $ 169,960 $ 2,220,280 $ Packet Pg. 678 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
103
Note 16 – Public Transportation Modernization Improvement and Service Enhancement Account (PTMISEA) Grant Information.

In November 2006, California Voters passed bond measure 1B, enacting the Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006. Of the $19.925 billion of state general obligation bonds authorized, $3.6 billion was allocated to PTMISEA to be available to transit operators over a ten-year period. These funds may be used for transit rehabilitation, safety or modernization improvements, capital service enhancements or expansions, new capital projects, bus rapid transit improvements, or rolling stock (buses and rail cars) procurement, rehabilitation or replacement.

In fiscal year 2020-21, RABA received or accrued an additional $0 in PTMISEA funding. However, per Department of Transportation guidance, a corrective action plan was submitted and approved to classify $370,040 of prior year property sales proceeds related to a closed PTMISEA project as an increase to the available PTMISEA balance in the 2020-21 fiscal year. During the fiscal year RABA incurred $264,138 in qualifying expenditures and earned $8,561 in interest income. The June 30, 2021 ending balance in unspent PTMISEA funding was $1,778,312 and is included in the Unearned Revenue balance.

Other Proposition 1B Funds
In fiscal year 2020-21 RABA received $0 in non-PTMISEA Proposition 1B funds. During the fiscal year RABA incurred $165,219 in qualifying expenditures and earned $991 in interest. The June 30, 2021 balance of nonPTMISEA Proposition 1B funds was $0.

Packet Pg. 679 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
104
Note 17 – Retirement Plans
A. Summary
Aggregate Net Pension Liability
Aggregate Net pension liability is reported in the accompanying Statements of Net Position as follows:

Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) 44,312,706 $ 128,331,577 $ 8,942,533 $ 181,586,816 $ Internal Service Funds:

Equipment 3,353,610 - 542,298 3,895,908
Information Systems 4,318,016 - 522,678 4,840,694
General Support Services 3,763,941 - 508,239 4,272,180
Risk Management 1,171,315 - 294,017 1,465,332
Municipal Utilities Support 5,668,443 - 1,274,516 6,942,959 Total Internal Service Funds 18,275,325 - 3,141,748 21,417,073 Total Governmental Activities 62,588,031 128,331,577 12,084,281 203,003,889 Enterprise funds:

Electric Utility 60,357,867 - 10,708,049 71,065,916
Water Utility 7,161,739 - 1,672,987 8,834,726
Wastewater Utility 8,831,950 - 1,941,772 10,773,722
Solid Waste Utiilty 15,512,768 - 2,326,510 17,839,278
Airport 1,421,411 - 38,024 1,459,435
Storm Drainage Utility 1,214,218 - 272,789 1,487,007
Total Enterprise funds 94,499,953 - 16,960,131 111,460,084 Total $ 128,331,577 157,087,984 $ 29,044,412 $ 314,463,973 $ Deferred Outflows of Resources
Deferred outflows of resources are reported in the accompanying Statements of Net Position as follows:

Pension Contributions Made after the Measurement Date
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) 4,250,045 $ 12,015,895 $ 2,203,991 $ 18,469,931 $ Internal Service Funds:

Equipment 321,645 - 133,656 455,301
Information Systems 414,142 - 128,820 542,962
General Support Services 361,001 - 125,262 486,263
Risk Management 112,341 - 72,464 184,805
Municipal Utilities Support 543,662 - 314,119 857,781
Total Internal Service Funds 1,752,791 - 774,321 2,527,112 Total Governmental Activities 6,002,836 12,015,895 2,978,312 20,997,043 Enterprise funds:

Electric Utility 5,788,940 - 2,639,123 8,428,063
Water Utility 686,884 - 412,327 1,099,211
Wastewater Utility 847,075 - 478,572 1,325,647
Solid Waste Utiilty 1,487,834 - 573,396 2,061,230
Airport 136,328 - 9,371 145,699
Storm Drainage Utility 116,456 - 67,232 183,688
Total Enterprise funds 9,063,517 - 4,180,021 13,243,538 Total $ 12,015,895 15,066,353 $ 7,158,333 $ 34,240,581 $ Packet Pg. 680 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
105
Note 17 – Retirement Plans (Continued)
A. Summary (Continued)
Deferred Outflows of Resources (Continued)
Difference between Projected and Actual Earnings on Pension Plan Investments Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) 609,390 $ 1,566,560 $ 376,509 $ 2,552,459 $ Internal Service Funds:

Equipment 46,119 - 22,832 68,951
Information Systems 59,381 - 22,006 81,387
General Support Services 51,761 - 21,399 73,160
Risk Management 16,108 - 12,379 28,487
Municipal Utilities Support 77,952 - 53,661 131,613
Total Internal Service Funds 251,321 - 132,277 383,598
Total Governmental Activities 860,711 1,566,560 508,786 2,936,057 Enterprise funds:

Electric Utility 830,041 - 450,843 1,280,884
Water Utility 98,488 - 70,438 168,926
Wastewater Utility 121,457 - 81,755 203,212
Solid Waste Utiilty 213,332 - 97,953 311,285
Airport 19,547 - 1,601 21,148
Storm Drainage Utility 16,698 - 11,485 28,183
Total Enterprise funds 1,299,563 - 714,075 2,013,638
Total $ 1,566,560 2,160,274 $ 1,222,861 $ 4,949,695 $
Changes of Assumptions
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) - $ 1,211,845 $ 16,521 $ 1,228,366 $ Internal Service Funds:

Equipment - - 1,002 1,002
Information Systems - - 966 966
General Support Services - - 940 940
Risk Management - - 543 543
Municipal Utilities Support - - 2,355 2,355
Total Internal Service Funds - - 5,806 5,806
Total Governmental Activities - 1,211,845 22,327 1,234,172 Enterprise funds:

Electric Utility - - 19,784 19,784
Water Utility - - 3,091 3,091
Wastewater Utility - - 3,588 3,588
Solid Waste Utiilty - - 4,298 4,298
Airport - - 70 70
Storm Drainage Utility - - 504 504
Total Enterprise funds - - 31,335 31,335
Total $ 1,211,845 - $ 53,662 $ 1,265,507 $
Packet Pg. 681 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
106
Note 17 – Retirement Plans (Continued)
A. Summary (Continued)
Deferred Outflows of Resources (Continued)
Difference between Expected and Actual Experience
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) 858,641 $ 1,758,628 $ 176,423 $ 2,793,692 $ Internal Service Funds:

Equipment 64,983 - 10,696 75,679
Information Systems 83,670 - 10,311 93,981
General Support Services 72,933 - 10,027 82,960
Risk Management 22,696 - 5,802 28,498
Municipal Utilities Support 109,837 - 25,144 134,981
Total Internal Service Funds 354,119 - 61,980 416,099
Total Governmental Activities 1,212,760 1,758,628 238,403 3,209,791 Enterprise funds:

Electric Utility 1,169,546 - 211,254 1,380,800
Water Utility 138,772 - 33,006 171,778
Wastewater Utility 171,135 - 38,308 209,443
Solid Waste Utiilty 300,588 - 45,899 346,487
Airport 27,542 - 751 28,293
Storm Drainage Utility 23,528 - 5,382 28,910
Total Enterprise funds 1,831,111 - 334,600 2,165,711
Total $ 1,758,628 3,043,871 $ 573,003 $ 5,375,502 $
Total Deferred Outflows
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) 5,718,076 $ 16,552,928 $ 2,773,444 $ 25,044,448 $ Internal Service Funds:

Equipment 432,747 - 168,186 600,933
Information Systems 557,193 - 162,103 719,296
General Support Services 485,695 - 157,628 643,323
Risk Management 151,145 - 91,188 242,333
Municipal Utilities Support 731,451 - 395,279 1,126,730 Total Internal Service Funds 2,358,231 - 974,384 3,332,615 Total Governmental Activities 8,076,307 16,552,928 3,747,828 28,377,063 Enterprise funds:

Electric Utility 7,788,527 - 3,321,004 11,109,531
Water Utility 924,144 - 518,862 1,443,006
Wastewater Utility 1,139,667 - 602,223 1,741,890
Solid Waste Utiilty 2,001,754 - 721,546 2,723,300
Airport 183,417 - 11,793 195,210
Storm Drainage Utility 156,682 - 84,603 241,285
Total Enterprise funds 12,194,191 - 5,260,031 17,454,222 Total $ 16,552,928 20,270,498 $ 9,007,859 $ 45,831,285 $ Packet Pg. 682 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
107
Note 17 – Retirement Plans (Continued)
A. Summary (Continued)
Deferred Inflows of Resources
Deferred inflows of resources are reported in the accompanying Statements of Net Position as follows:

Changes in Assumptions
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) 122,173 $ 316,272 $ - $ 438,445 $ Internal Service Funds:

Equipment 9,246 - - 9,246
Information Systems 11,905 - - 11,905
General Support Services 10,378 - - 10,378
Risk Management 3,229 - - 3,229
Municipal Utilities Support 15,628 - - 15,628
Total Internal Service Funds 50,386 - - 50,386
Total Governmental Activities 172,559 316,272 - 488,831 Enterprise funds:

Electric Utility 166,412 - - 166,412
Water Utility 19,746 - - 19,746
Wastewater Utility 24,350 - - 24,350
Solid Waste Utiilty 42,771 - - 42,771
Airport 3,919 - - 3,919
Storm Drainage Utility 3,348 - - 3,348
Total Enterprise funds 260,546 - - 260,546
Total $ 316,272 433,105 $ - $ 749,377 $
Differences between Expected and Actual Experience
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) - $ 81,617 $ - $ 81,617 $ Internal Servive Funds:

Equipment - - - -
Information Systems - - - -
General Support Services - - - -
Risk Management - - - -
Municipal Utilities Support - - - -
Total Internal Service Funds - - - -
Total Governmental Activities - 81,617 - 81,617
Enterprise funds:

Electric Utility - - - -
Water Utility - - - -
Wastewater Utility - - - -
Solid Waste Utiilty - - - -
Airport - - - -
Storm Drainage Utility - - - -
Total Enterprise funds - - - -
Total $ 81,617 - $ - $ 81,617 $
Packet Pg. 683 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
108
Note 17 – Retirement Plans (Continued)
A. Summary (Continued)
Deferred Inflows of Resources (Continued)
Total Pension-related Deferred Inflows
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) 122,173 $ 397,889 $ - $ 520,062 $ Internal Service Funds:

Equipment 9,246 - - 9,246
Information Systems 11,905 - - 11,905
General Support Services 10,378 - - 10,378
Risk Management 3,229 - - 3,229
Municipal Utilities Support 15,628 - - 15,628
Total Internal Service Funds 50,386 - - 50,386
Total Governmental Activities 172,559 397,889 - 570,448 Enterprise funds:

Electric Utility 166,412 - - 166,412
Water Utility 19,746 - - 19,746
Wastewater Utility 24,350 - - 24,350
Solid Waste Utiilty 42,771 - - 42,771
Airport 3,919 - - 3,919
Storm Drainage Utility 3,348 - - 3,348
Total Enterprise funds 260,546 - - 260,546
Total $ 397,889 433,105 $ - $ 830,994 $
Pension Expense
The total pension expense related to all retirement plans is $43,756,772. This is comprised of three parts CalPERS Miscellaneous Plan, CalPERS Safety Plan, and the PARS plan. The CalPERS Miscellaneous Plan pension expense was $20,702,309, the CalPERS Safety Plan pension expense was $18,232,968, and the PARS plan was $4,821,495.

B. CalPERS
General Information about the Pension Plans
All qualified permanent and probationary employees are eligible to participate in the City’s separate Miscellaneous and Safety (police and fire) Plans, agent multiple-employer defined benefit pension plans administered by the California Public Employee’s Retirement System (CalPERS), which acts as a common investment and administrative agent for its participating member employers. Benefit provisions under the Plans are established by State statute and Local Government resolution. CalPERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.

Packet Pg. 684 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
109
Note 17 – Retirement Plans (Continued)
B. CalPERS (Continued)
General Information about the Pension Plans (continued) In addition to the defined benefit pension plan through CalPERS, the City offers a defined benefit Retirement Enhancement Plan (REP) to the CalPERS Miscellaneous Plan through Public Agency Retirement Services (PARS). This plan became effective on January 1, 2005. Information about the REP Plan through PARS will be discussed following the discussion of the CalPERS Plan.

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

The Plans’ provisions and benefits in effect at June 30, 2021, are summarized as follows:

Hire date
Prior to
January 1, 2013
On or after
January 1, 2013
Benefit formula 2% @ 55 2% @ 62
Benefit vesting schedule 5 years service 5 years service Benefit Payments monthly for life monthly for life
Retirement age 50-55 52-67
Monthly benefits, as a % of eligible compensation 1.426% to 2.0% 1.0% to 2.5% Required employee contribution rates 7.00% 7.25%
Required employer contribution rates 10.164% 10.164%
Miscellaneous
Hire date
Prior to
September 8, 2012
September 8, 2012
to December 31,
2012
On or after
January 1, 2013
Benefit formula 3% @ 50 3% @ 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 50-55 50-55 52-57
Monthly benefits, as a % of eligible compensation 3.0% 2.4% to 3.0% 2.0% to 2.7% Required employee contribution rates 9.0% 9.0% 13.3%
Required employer contribution rates 21.554% 21.554% 21.970% Safety
Packet Pg. 685 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
110
Note 17 – Retirement Plans (Continued)
B. CalPERS (Continued)
a. Net Pension Liability
Employees Covered by Benefit Terms
At June 30, 2020 (actuarial valuation date), the following employees were covered by the benefit terms for each Plan:

Miscellaneous Safety
Inactive employees or beneficiaries currently receiving benefits 829 300 Inactive employees entitled to but not yet receiving benefits 29 65 1 Active Employees 598 178
Total 1,718 543
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 for both Plans are determined through CalPERS’ annual actuarial valuation process. The actuarially determined rate is the estimated amount necessary to finance the cost of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. Employer contribution rates may change if plan contracts are amended. It is the responsibility of the employer to make necessary accounting adjustments to reflect the impact due to any Employer-Paid Member Contributions or situations where members are paying a portion of the employer contribution.

The City’s net pension liability for each Plan is measured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability of each of the Plans is measured as of June 30, 2020, using an annual actuarial valuation as of June 30, 2020 rolled forward to June 30, 2021 using standard update procedures. A summary of principal assumptions and methods used to determine the net pension liability is shown below.

Packet Pg. 686 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
111
Note 17 – Retirement Plans (Continued)
B. CalPERS (Continued)
a. Net Pension Liability (Continued)
Actuarial Assumptions
The total pension liabilities in the June 30, 2020 actuarial valuations were determined using the following actuarial assumptions:

Miscellaneous Safety
Valuation Date June 30, 2019 June 30, 2019
Measurement Date June 30, 2020 June 30, 2020
Actuarial Cost Method
Actuarial Assumptions:

Discount Rate 7.15% 7.15%
Inflation 2.50% 2.50%
Payroll Growth 3.00% 3.00%
Projected Salary Increase
Investment Rate of Return
includes Inflation
Mortality Rate Table 1
Post Retirement Benefit Increase
1 The mortality table used was developed based on CalPERS-specific data. The probabilities of mortality are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015.

Preretirement and Post-retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries. For more details on this table, please refer to the CalPERS Experience Study and Review of Actuarial Assumptions report from December 2017 that can be found on the CalPERS website.

Contract COLA up to 2.50% until Purchasing
Power Protection Allowance Floor on Purchasing
Power applies, 2.50% thereafter
Derived using CalPERS' Membership Data for all
Funds.

Entry-Age Normal Cost
Varies by Entry Age and Service

7.50% Net of Pension Plan Investment Expense,
All other actuarial assumptions used in the June 30, 2020 valuation were based on the results of an actuarial experience study for the period from 1997 to 2011, including updates to salary increase, mortality and retirement rates. The Experience Study report can be obtained at CalPERS’ website under Forms and Publication.

Packet Pg. 687 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
112
Note 17 – Retirement Plans (Continued)
B. CalPERS (Continued)
a. Net Pension Liability (Continued)
Discount Rate
The discount rate used to measure the total pension liability was 7.15 percent. To determine whether the municipal bond rate should be used in the calculation of a discount rate for each plan, CalPERS stress tested plans that would most likely result in a discount rate that would be different from the actuarially assumed discount rate. The tests revealed the assets would not run out. Therefore, the current 7.15 percent discount rate is appropriate and the use of the municipal bond rate calculation is not deemed necessary. The long-term expected discount rate of 7.15 percent is applied to all plans in the Public Employees Retirement Fund. The stress test results are presented in a detailed report called “GASB Crossover Testing Report” that can be obtained at CalPERS’ website under the GASB 68 section.

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

In determining the long-term expected rate of return, CalPERS staff took into account both short-term and long-term market return expectations as well as the expected pension fund (Public Employees’ Retirement Fund) cash flows. Such cash flows were developed assuming that both members and employers will make their required contributions on time and as scheduled in all future years. Using historical returns of all the funds’ assets classes, expected compound (geometric returns were calculated over the short-term (first 10 years) and the long-term (11-60 years) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equivalent to the single equivalent rate calculated above the rounded down to the nearest one quarter of one percent.

The table below reflects long-term expected real rate of return by asset class. The rate of return was calculated using the capital market assumptions applied to determine the discount rate and asset allocation.

The target allocation shown was adopted by the Board effective on July 1, 2014.

Asset Class1
Current Target
Allocation
Real Return
Years 1-10
2 Real Return
Years 11+
3 Global Equity 50.0% 4.80% 5.98%
Global Fixed Income 28.0% 1.00% 2.62%
Inflation Sensitive 0.0% 0.77% 1.81%
Private Equity 8.0% 6.30% 7.23%
Real Estate 13.0% 3.75% 4.93%
Infrastructure and Forestland 0.0% 0.00% 0.00%
Liquidity 1.0% 0.00% -0.92%
3 An expected inflation of 2.92% used for this period
1 In the System's CAFR, Fixed Income is included in Global Debt Securities; Liquidity is included in Short-term Investments; Inflation Assets are included in both Global Equity Securities and Global Debt Securities 2 An expected inflation of 2.0% used for this period
Packet Pg. 688 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
113
Note 17 – Retirement Plans (Continued)
B. CalPERS (Continued)
b. Changes in Net Pension Liability
The changes in the Net Pension Liability for each Plan follow:

Miscellaneous Plan:

Total Pension
Liability
Increase
(Decrease) Plan
Fiduciary Net
Pension
Net Pension
Liability/ (Asset)
Balance at June 30, 2019 (Measurement date) $ 312,225,622 460,775,550 $ 148,549,928 $ Changes in the year:

Service costs 7,095,018 - 7,095,018
Interest on the total pension liability 32,355,397 - 32,355,397 Changes of benefit terms - - -
Differences between actual and expected experience 1,379,900 - 1,379,900 Change in assumptions - - -
Plan to Plan Resource Movement - - -
Contributions - employer - 13,743,592 (13,743,592)
Contribution - employee - 3,533,531 (3,533,531)
Net investment income - 15,455,298 (15,455,298)
Benefit Payments, including refunds of employee
contributions (26,359,866) (26,359,866) -
Administrative expense - (440,162) 440,162
Other Miscellaneous Income/(Expense) - - -
Net changes 5,932,393 14,470,449 8,538,056
Balance at June 30, 2020 (Measurement date) 475,245,999 $ 318,158,015 $ 157,087,984 $ 2 Net of administrative expenses
Packet Pg. 689 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
114
Note 17 – Retirement Plans (Continued)
B. CalPERS (Continued)
b. Changes in Net Pension Liability (Continued)
Safety Plan:

Total Pension
Liability
Increase
(Decrease) Plan
Fiduciary Net
Pension
Net Pension
Liability/ (Asset)
Balance at June 30, 2019 (Measurement date) $ 202,856,046 325,459,333 $ 122,603,287 $ Changes in the year:

Service costs 5,609,745 - 5,609,745
Interest on the total pension liability 22,885,014 - 22,885,014 Changes of benefit terms - - -
Differences between actual and expected experience 198,438 - 198,438 Change in assumptions - - -
Plan to Plan Resource Movement - - -
Contributions - employer - 10,962,279 (10,962,279)
Contribution - employee - 2,206,742 (2,206,742)
Net investment income - 10,081,863 (10,081,863)
Benefit Payments, including refunds of employee
contributions (16,785,010) (16,785,010) -
Administrative expense (285,977) 285,977
Other Miscellaneous Income/(Expense) - - -
Net changes 6,179,897 11,908,187 5,728,290
Balance at June 30, 2020 (Measurement date) 337,367,520 $ 209,035,943 $ 128,331,577 $ 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 7.15 percent, as well as what the net pension liability would be if it were calculated using a discount rate that is 1 percentage-point lower (6.15 percent) or 1 percentage-point higher (8.15 percent) than the current rate:

Miscellaneous Safety
1% Decrease 6.15% 6.15%
Net Pension Liability 215,249,912 174,193,538
Current Discount Rate 7.15% 7.15%
Net Pension Liability 157,087,984 128,331,577
1% Increase 8.15% 8.15%
Net Pension Liability 108,524,684 90,710,107

Packet Pg. 690 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
115
Note 17 – Retirement Plans (Continued)
B. CalPERS (Continued)
b. Changes in Net Pension Liability (Continued)
Pension Plan Fiduciary Net Position
The plan fiduciary net position disclosed in the City’s GASB 68 accounting valuation report may differ from the plan assets report in the funding actuarial valuation report due to several reasons. First, for the account valuations, CalPERS must keep items such as deficiency reserves, fiduciary self-insurance and OPEB expense included as assets. These amounts are excluded for rate setting purposes in the funding actuarial valuation. In addition, differences may result from early Annual Comprehensive Financial Report closing and final reconciled reserves.
c. Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions For the year ended June 30, 2021, the City recognized pension expense of $38,935,277, which is comprised of $20,702,309 of pension expense related to the CalPERS Miscellaneous plan and $18,232,968 of pension expense related to the CalPERS Safety plan. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Miscellaneous Plan:

Deferred Outflows
of Resources
Deferred Inflows of
Resources
Pension Contributions made after Measurement Date 15,066,353 $ - $ Changes of Assumptions - (433,105)
Difference between Expected and Actual Experience 3,043,871 - Net Difference between Projected and Actual Earnings
on Pension Plan Investments 2,160,274 -
Total 20,270,498 $ (433,105) $
Safety Plan:

Deferred Outflows
of Resources
Deferred Inflows of
Resources
Pension Contributions made after Measurement Date 12,015,895 $ - $ Changes of Assumptions 1,211,845 (316,272)
Difference between Expected and Actual Experience 1,758,628 (81,617) Net Difference between Projected and Actual Earnings
on Pension Plan Investments 1,566,560 -
Total 16,552,928 $ (397,889) $
Packet Pg. 691 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
116
Note 17 – Retirement Plans (Continued)
B. CalPERS (Continued)
c. Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions (Continued) The amounts above are net of outflow and inflows recognized in the 2019-20 measurement period expense.

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 2019-20 measurement is 3.5 and 4.1 years, which was obtained by dividing the total service years of 6,004 and 2,213 (the sum of remaining service lifetimes of the active employees) by 1,714 and 543 (the total number of participants: active, inactive and retired), respectively.

The $15,066,353 and $12,015,895 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, 2021 will be recognized as a reduction of the net pension liability in the year ended June 30, 2022. Other amounts reported as deferred outflow and deferred inflows of resources related to pensions will be recognized in future pension expense as follows:

Year Ended June 30 Miscellaneous Plan Safety Plan
2021 (188,979) $ 999,617 $
2022 1,887,797 1,199,923
2023 1,779,804 1,083,443
2024 1,292,418 856,161
2025 - -
Thereafter - -
Total 4,771,040 $ 4,139,144 $
d. Payable to the Pension Plan
At June 30, 2021, The City reported a payable of $ -0- for the outstanding amount of contributions to the pension plan required for the year ended June 30, 2021.

Packet Pg. 692 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
117
Note 17 – Retirement Plans (Continued)
C. PARS
a. General Information about the Pension Plans
Effective January 1, 2005, the City adopted a defined benefit plan administered through the Public Agency Retirement System (PARS) to provide supplemental retirement benefits to eligible employees in addition to the benefits the employees receive from CalPERS. The plan is an agent multiple-employer defined benefit plan. The financial statement is issued as part of an audited trust Financial Statement and is available thru the State Controller website and filed on an annual basis. Employee groups who are eligible to participate in the Retirement Enhancement Plan (REP) are as follows: Tier I – Executive Management Employees, Tier II – Redding Independent Employees’ Organization (RIEO) represented employees, Tier III Redding Police Officers’ Association (RPOA) - Miscellaneous Unit employees, Tier IV International Brotherhood of Electrical Workers (IBEW) – Maintenance unit represented employees, Tier V International Brotherhood of electrical Workers (IBEW) – Electric represented employees, and Tier VI United Public Employees of California represented employees. The Plan is now closed to new participants.

Benefits Provided
The REP plan provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members and beneficiaries. Benefits are based on years of service credited service, equal to one year of full time employment. Members in Tiers I, III, IV, V and VI with five years of service with the City are eligible to retire at age 50. Members in Tier II with ten years of service with the City are eligible to retire at age 50. The death benefit is one of the following: the Basis Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law.

The Plans’ provisions and benefits in effect at June 30, 2021, are summarized as follows:

Tier I Tier II Tier III Tier IV Tier V Tier VI
Hire date 1/1/2005 thru
8/7/2011
1/1/2005 thru
12/31/2012
1/1/2005 thru
1/5/2011
1/1/2005 thru
1/5/2011
1/1/2005 thru
9/21/2011
1/1/2005 thru
9/21/2011
Benefit formula 2.7% @ 55 2.7% @ 55 2.5% @ 55 2.7% @ 55 2.7% @ 55 2.7% @ 55 Benefit vesting schedule 5 years service 10 years service 5 years service 5 years service 5 years service 5 years service Benefit Payments monthly for life monthly for life monthly for life monthly for life monthly for life monthly for life Retirement age 50-55 50-55 50-55 50-55 50-55 50-55
Monthly benefits, as a %
of eligible compensation 2.0% to 2.7% 2.0% to 2.7% 2.0% to 2.5% 2.0% to 2.7% 2.0% to 2.7% 2.0% to 2.7% Required employee
contribution rates 2.35% 1.70% 1.71% 2.08% 2.08% 1.31%
Required employer
contribution rates 54.14% 45.87% 45.85% 39.57% 36.09% 46.52% Packet Pg. 693 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
118
Note 17 – Retirement Plans (Continued)
C. PARS (Continued)
a. General Information about the Pension Plans (Continued) Employees Covered
At July 1, 2020, the following employees were covered by the benefit terms for each Plan:

Tier I Tier II Tier III Tier IV Tier V Tier VI Total
Inactive employees or beneficiaries
currently receiving benefits 100 205 10 93 45 11 464
Inactive employees entitled to
but not yet receiving benefits 3 4 - 3 - 1 11
Active Employees 43 101 2 60 27 12 245
Total 146 310 12 156 72 24 720
b. Net Pension Liability
The City’s total pension liability was determined by an actuarial valuation as of the valuation date, calculated based on the discount rate and actuarial assumptions below, and was then projected forward to the measurement date. There have been no significant changes between the valuation date and the fiscal year end. As summary of principal assumptions and methods used to determine the net pension liability is shown below.

Actuarial Assumptions
The total pension liabilities in the June 30, 2020 actuarial valuation were determined using the following actuarial assumptions:

Valuation Date June 30, 2020
Measurement Date June 30, 2020
Actuarial Cost Method Entry-Age Normal
Actuarial Assumptions:

Discount Rate 7.00%
Inflation 2.50%
Projected Salary Increase Graded rates based on years of services, 3.85% after 22 years of service.

Investment Rate of Return 7.00%
Mortality Rate Table Pre-retirement/Post-retirement: Consistent with NonIndustrial rates used to value the Miscellaneous CalPERS Pension Plans after June 30, 2017
Packet Pg. 694 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
119
Note 17 – Retirement Plans (Continued)
C. PARS (Continued)
b. Net Pension Liability (Continued)
Discount Rate
The best-estimate range for 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 capital market assumptions are per Milliman’s investment consulting practice as of June 30, 2021.

Asset Class Index
Target
Allocation
Long-Term
Expected
Arithmetic
Real Rate of
Return
Long-Term
Expected
Geometric
Real Rate of
Return
US Cash BAML 3-Mon Tbill 2.95% -32.00% -0.32%
US Core Fixed Income Barclays Aggregate 38.42% 1.37% 1.26% US Equity Market Russell 3000 46.47% 5.33% 3.70%
Foreign Developed Equity MSCI EAFE NR 7.11% 6.27% 4.52% Emerging Markets Equity MSCI EM NR 4.03% 8.64% 4.95%
US REITs FTSE NAREIT Equity REIT 1.02% 5.75% 3.57%
Assumed Inflation - Mean 2.30% 2.30%

1.16% 1.16%
Portfolio Real Mean Return 3.84% 3.25%
Portfolio Nominal Mean Return 6.14% 5.63%
Portfolio Standard Deviation 10.44%

7.00%
Assumed Inflation - Standard Deviation
Long-Term Expected Rate of Return
Packet Pg. 695 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
120
Note 17 – Retirement Plans (Continued)
C. PARS (Continued)
c. Changes in Net Pension Liability
The changes in the Net Pension Liability for the Plan follow:

PARS-REP Plan
Total Pension
Liability
Increase
(Decrease) Plan
Fiduciary Net
Pension
Net Pension
Liability/
(Asset)
Balance at June 30, 2019 (Measurement date) $ 55,486,072 86,260,332 $ 30,774,260 $ Changes in the year:

Service costs 909,470 - 909,470
Interest on the total pension liability 5,933,422 - 5,933,422 Changes of benefit terms - - -
Effect of economic/demographic gains or losses 535,027 - 535,027 Differences between actual and expected experience - - - Change in assumptions - - -
Contributions - employer - 6,888,868 (6,888,868)
Contribution - employer (paid by member) - 224,631 (224,631) Net investment income - 2,318,864 (2,318,864)
Administrative expenses - (324,596) 324,596
Benefit Payments, including refunds of employee
contributions (4,896,050) (4,896,050) -
Net changes 4,211,717 2,481,869 (1,729,848)
Balance at June 30, 2020 (Measurement date) 88,742,201 $ 59,697,789 $ 29,044,412 $ Sensitivity Analysis
The following presents the net pension liability of the City of Redding Retirement Enhancement Plan, calculated using the discount rate of 7.0%, as well as what the Plan’s net pension liability would be if it were calculated using a discount rate that is 1 percentage point lower (6.0%) or 1 percentage point higher (8.0%) than the current rate.
1% Decrease

6.0%
Current
Discount Rate

7.0%
1% Increase

8.0%
Total Pension Liability 98,917,215 $ 88,742,201 $ 80,161,773 $ Fiduciary net position 59,697,789 59,697,789 59,697,789 Net pension liability 39,219,426 29,044,412 20,463,984
Packet Pg. 696 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
121
Note 17 – Retirement Plans (Continued)
C. PARS (Continued)
c. Changes in Net Pension Liability (Continued)
Pension Plan Fiduciary Net Position
The plan fiduciary net position disclosed in the City’s GASB 68 accounting valuation report may differ from the plan assets report in the funding actuarial valuation report due to several reasons. First, for the account valuations, CalPERS must keep items such as deficiency reserves, fiduciary self-insurance and OPEB expense included as assets. These amounts are excluded for rate setting purposes in the funding actuarial valuation. In addition, differences may result from early Annual Comprehensive Financial Report closing and final reconciled reserves.
d. Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions For the year ended June 30, 2021, the City recognized pension expense of $4,821,495. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows
of Resources
Deferred Inflows of
Resources
Pension Contributions made after Measurement Date 7,158,333 $ - $ Changes of Assumptions 53,662 -
Difference between Expected and Actual Experience 573,003 - Net Difference between Projected and Actual Earnings
on Pension Plan Investments 1,222,861 -
Total 9,007,859 $ - $
The amounts above are net of outflow and inflows recognized in the 2019-20 measurement period expense.

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 PARS plan for the 2019-20 measurement is 2.6 years, which was obtained by dividing the total service years of 1,889 (the sum of remaining service lifetimes of the active employees) by 727 (the total number of participants:
active, inactive and retired).

Packet Pg. 697 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
122
Note 17 – Retirement Plans (Continued)
C. PARS (Continued)
d. Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions (Continued) The $7,158,333 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, 2021 will be recognized as a reduction of the net pension liability in the year ended June 30, 2022. Other amounts reported as deferred outflow and deferred inflows of resources related to pensions will be recognized in future pension expense as follows:

Year Ended June 30 Amount
2021 623,946 $
2022 517,592
2023 381,930
2024 326,058
Thereafter -
Total 1,849,526 $
e. Payable to the Pension Plan
At June 30, 2021, The City reported a payable of $ -0- for the outstanding amount of contributions to the pension plan required for the year ended June 30, 2021.

Packet Pg. 698 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
123
Note 18 – Other Postemployment Healthcare Benefits
The following is a summary of Net other postemployment benefits (“OPEB”) liabilities and related deferred outflows and inflows of resources as of June 30, 2021:

Aggregate Net OPEB Liability
Aggregate Net OPEB Liability is reported in the accompanying Statements of Net Position as follows:

Governmental Activities
(minus Internal Service Funds) 20,205,543 $
Internal Service Funds:

Equipment 621,237
Information Systems 779,044
General Support Services 644,909
Risk Management 203,472
Municipal Utilities Support 1,026,562
Total Internal Service Funds 3,275,224
Total Governmental Activities 23,480,767
Enterprise funds:

Electric Utility 11,019,028
Water Utility 1,290,347
Wastewater Utility 1,607,922
Solid Waste Utiilty 2,793,878
Airport 230,315
Storm Drainage Utility 215,462
Total Enterprise funds 17,156,952
Total $ 40,637,719
OPEB

Packet Pg. 699 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
124
Note 18 – Other Postemployment Healthcare Benefits (Continued) Deferred Outflows of Resources
Deferred outflows of resources are reported in the accompanying Statements of Net Position as follows:

OPEB Contributions made after the Measurement Date
Governmental Activities
(minus Internal Service Funds) 1,812,989 $
Internal Service Funds:

Equipment 55,742
Information Systems 69,902
General Support Services 57,866
Risk Management 18,257
Municipal Utilities Support 92,110
Total Internal Service Funds 293,877
Total Governmental Activities 2,106,866
Enterprise funds:

Electric Utility 988,708
Water Utility 115,779
Wastewater Utility 144,275
Solid Waste Utiilty 250,687
Airport 20,666
Storm Drainage Utility 19,333
Total Enterprise funds 1,539,448
Total $ 3,646,314
OPEB
Difference between Projected and Actual Earnings on Pension Plan Investments Governmental Activities
(minus Internal Service Funds) 132 $
Internal Service Funds:

Equipment 4
Information Systems 5
General Support Services 4
Risk Management 1
Municipal Utilities Support 7
Total Internal Service Funds 21
Total Governmental Activities 153
Enterprise funds:

Electric Utility 72
Water Utility 8
Wastewater Utility 11
Solid Waste Utiilty 19
Airport 2
Storm Drainage Utility 1
Total Enterprise funds 113
Total $ 266
OPEB
Packet Pg. 700 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
125
Note 18 – Other Postemployment Healthcare Benefits (Continued) Deferred Outflows of Resources (Continued)
Changes of Assumptions
Governmental Activities
(minus Internal Service Funds) 4,925,496 $
Internal Service Funds:

Equipment 151,439
Information Systems 189,907
General Support Services 157,209
Risk Management 49,601
Municipal Utilities Support 250,245
Total Internal Service Funds 798,401
Total Governmental Activities 5,723,897
Enterprise funds:

Electric Utility 2,686,104
Water Utility 314,548
Wastewater Utility 391,962
Solid Waste Utiilty 681,064
Airport 56,143
Storm Drainage Utility 52,523
Total Enterprise funds 4,182,344
Total $ 9,906,241
OPEB
Packet Pg. 701 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
126
Note 18 – Other Postemployment Healthcare Benefits (Continued) Deferred Outflows of Resources (Continued)
Differences between Expected and Actual Experience
Governmental Activities
(minus Internal Service Funds) 1,290,480 $
Internal Service Funds:

Equipment 39,677
Information Systems 49,756
General Support Services 41,189
Risk Management 12,995
Municipal Utilities Support 65,564
Total Internal Service Funds 209,181
Total Governmental Activities 1,499,661
Enterprise funds:

Electric Utility 703,759
Water Utility 82,411
Wastewater Utility 102,694
Solid Waste Utiilty 178,438
Airport 14,710
Storm Drainage Utility 13,761
Total Enterprise funds 1,095,773
Total $ 2,595,434
OPEB
Total Deferred Outflows
Governmental Activities
(minus Internal Service Funds) 8,029,097 $
Internal Service Funds:

Equipment 246,862
Information Systems 309,570
General Support Services 256,268
Risk Management 80,854
Municipal Utilities Support 407,926
Total Internal Service Funds 1,301,480
Total Governmental Activities 9,330,577
Enterprise funds:

Electric Utility 4,378,643
Water Utility 512,746
Wastewater Utility 638,942
Solid Waste Utiilty 1,110,208
Airport 91,521
Storm Drainage Utility 85,618
Total Enterprise funds 6,817,678
Total $ 16,148,255
OPEB
Packet Pg. 702 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
127
Note 18 – Other Postemployment Healthcare Benefits (Continued) Deferred Inflows of Resources
Deferred Inflows of resources are reported in the accompanying Statements of Net Position as follows:

Changes in Assumptions
Governmental Activities
(minus Internal Service Funds) 1,181,242 $
Internal Service Funds:

Equipment 36,318
Information Systems 45,544
General Support Services 37,702
Risk Management 11,895
Municipal Utilities Support 60,014
Total Internal Service Funds 191,473
Total Governmental Activities 1,372,715
Enterprise funds:

Electric Utility 644,185
Water Utility 75,435
Wastewater Utility 94,001
Solid Waste Utiilty 163,333
Airport 13,464
Storm Drainage Utility 12,596
Total Enterprise funds 1,003,014
Total $ 2,375,729
OPEB
Total Deferred Inflows
Governmental Activities
(minus Internal Service Funds) 1,181,242 $
Internal Service Funds:

Equipment 36,318
Information Systems 45,544
General Support Services 37,702
Risk Management 11,895
Municipal Utilities Support 60,014
Total Internal Service Funds 191,473
Total Governmental Activities 1,372,715
Enterprise funds:

Electric Utility 644,185
Water Utility 75,435
Wastewater Utility 94,001
Solid Waste Utiilty 163,333
Airport 13,464
Storm Drainage Utility 12,596
Total Enterprise funds 1,003,014
Total $ 2,375,729
OPEB

Packet Pg. 703 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
128
Note 18 – Other Postemployment Healthcare Benefits (Continued) General Information about the OPEB Plan
Plan Description
The City of Redding PARS Post-Retirement Health Care Plan (the “Plan”) is a single-employer defined benefit healthcare plan administered by Phase II Systems, dba Public Agency Retirement Services (PARS). The Plan provides medical and dental insurance benefits to eligible retirees and their spouses. The City Council has the authority to establish and amend benefit provisions to the plan.

Funding Policy
The contribution requirements of plan members are established and may be amended by the City Council. The required contribution is based on projected pay-as-you-go financing requirements, with an additional amount to prefund benefits as determined annually by the City Council.

Employees Covered by Benefit Term
Inactive employees or beneficiaries currently receiving benefits 398 Inactive employees entitled to but not yet receiving benefits - Active Employees 758
Total 1,156

Packet Pg. 704 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
129
Note 18 – Other Postemployment Healthcare Benefits (Continued) Net OPEB Liability
The City’s net OPEB liability was measured as of June 30, 2020, and the actuarial valuation used to calculate the net OPEB liability was as of June 30, 2019.

Actuarial Assumptions
The total OPEB liability in the June 30, 2020 actuarial valuation was determined using the following actuarial assumptions:

Valuation Date June 30, 2019
Measurement Date June 30, 2020
Actuarial Assumptions:

Discount Rate 2.21% at June 30, 2020 Bond Buyer 20-bond Index

3.5% at June 30, 2019 Bond Buyer 20-bond Index
General Inflation 2.75%
Expected Net Long-Term Rate
of Return on Investments: 3.75% at June 30, 2020
Mortality Rate Table CalPERS 1997-2015 Experience Study Mortality Improvement Mortality projected fully generational with Scale MP2019 Salary Increases 3%
Medical Trend Non-Medicare-7.25% for 2021, decreasing to an ultimate rate of 4% in 2076 and later years
Medicare- 100% actives and retirees assumed to be
eligible and will participate in Medicare
Healthcare participation for
future retirees Single coverage: 60% pre-65, 30% post-65 2-Party and family coverage - 75% pre-65, 70% post-65
Healthcare participation for
current retirees
50% for single and 90% for 2-party/familiy after age 65 for retirees currently under 65
100% for other retirees

Packet Pg. 705 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
130
Note 18 – Other Postemployment Healthcare Benefits (Continued) Net OPEB Liability (Continued)
Changes in Net OPEB Liability
Total OPEB
Liability
Fiduciary Net
Position
Net OPEB
Liability
Balance at June 30, 2019 (Measurement date) $ 52,188 43,387,141 $ 43,334,953 $ Changes in the year:

Service costs 2,266,201 - 2,266,201
Interest on the total pension liability 1,532,174 - 1,532,174 Changes of benefit terms - - -
Effect of economic/demographic gains or losses - - -
Differences between actual and expected experience - - - Change in assumptions (2,741,226) - (2,741,226)
Contributions - employer - 3,753,880 (3,753,880)
Contribution - employer (paid by employer) - - -
Net investment income - 634 (634)
Administrative expenses - (131) 131
Benefit Payments, including refunds of employee
contributions (3,753,880) (3,753,880) -
Net changes 503 (2,696,731) (2,697,234)
Balance at June 30, 2020 (Measurement Date) 40,690,410 $ 52,691 $ 40,637,719 $ Sensitivity of the Net OPEB Liability to Changes in the Discount Rate The following presents the net OPEB liability of the plan as of the measurement date, calculated using the discount rate of 2.21%, as well as what the net OPEB liability would be if it were calculated using a discount rate that is 1 percentage point lower (1.21%) or 1 percentage point higher (3.21%) than the current rate:
1% Decrease
(1.21%)
Current Rate
(2.21%)
1% Increase
(3.21%)
Net OPEB Liability 36,888,962 $ 40,637,719 $ 42,262,824 $ Sensitivity of the Net OPEB Liability to Changes in the Healthcare cost Trend Rates The following presents the net OPEB liability of the plan as of the measurement date, calculated using healthcare cost trend rates, as well as what the net OPEB liability would be if it were calculate using a trend that are one percentage point lower or one percentage higher than the current healthcare cost trend rates:
1% Decrease Current Trend 1% Increase
Net OPEB Liability 40,358,995 $ 40,637,719 $ 39,296,836 $

Packet Pg. 706 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
131
Note 18 – Other Postemployment Healthcare Benefits (Continued) OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the year ended June 30, 2021, the City recognized OPEB expense of $6,074,616. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Deferred Outflows
of Resources
Deferred Inflows of
Resources
Pension Contributions made after Measurement Date 3,646,314 $ - $ Changes of Assumptions 9,906,241 2,375,729
Difference between Expected and Actual Experience 266 - Net Difference between Projected and Actual Earnings
on Pension Plan Investments 2,595,434 -
Total 16,148,255 $ 2,375,729 $
The $3,646,314 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, 2021 will be recognized as a reduction of the net OPEB liability in the year ended June 30, 2022. Other amounts reported as deferred outflow and deferred inflow of resources related to OPEB will be recognized in future OPEB expense as follows:

Year Ended June 30 Amount
2022 2,278,065 $
2023 2,278,064
2024 2,278,142
2025 1,793,355
2026 1,500,280
Thereafter (1,694)
Total 10,126,212 $
Packet Pg. 707 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
132
Note 19 – Fund Balances
Fund balance as of June 30, 2021, consists of the following:

General Major Capital Other
Fund Project Fund Funds Total
Fund balances:

Nonspendable fund balance:

Prepaids and inventory 5,862,077 $ - $ 19,107 $ 5,881,184 $ Contractually nonspendable 909,207 - - 909,207
Total nonspendable - 6,771,284 19,107 6,790,391
Restricted fund balance:

Fiscal agent reserves 4 - - 4
Capital projects - 7,185,133 - 7,185,133
Debt service 209,312 - 310,961 520,273
Special Revenue:

Community development - - 43,522,549 43,522,549
Housing - - 16,373,385 16,373,385
Landscape maintenance - - 332,129 332,129
Library - - 1,040,009 1,040,009
Local transportation - - 8,914,775 8,914,775
Parking 365,080 365,080
Police asset seizure - - 30,965 30,965
Total restricted 7,185,133 209,316 70,889,853 78,284,302 Assigned fund balance:

Operations & Maintenance
Police 196,532 - - 196,532
Public works 2,334,044 - - 2,334,044
Other 723,773 - - 723,773
Capital Projects
Police 39,236 39,236
Public works 175,260 - - 175,260
Other 75,851 - - 75,851
Vehicles & Equipment
Police - - - -
Other - - - -
Rolling stock 917,984 - - 917,984
Future expenditures 4,558,000 - - 4,558,000
Future capital projects 1,504,296 - - 1,504,296
Total assigned - 10,524,976 - 10,524,976
Unassigned:

General Fund 13,001,211 - - 13,001,211
Total Unassigned - 13,001,211 - 13,001,211
Total fund balances $ 7,185,133 30,506,787 $ 70,908,960 $ 108,600,880 $ Packet Pg. 708 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
133
Note 20 – Net Investment in Capital Assets
Net Investment in Capital Assets as of June 30, 2021, consisted of the following:

Governmental Business-Type
Activities Activities
Net Investment in capital assets
Capital assets, nondepreciable 68,734,753 $ 56,142,302 $ Capital assets, depreciable 268,456,768 478,673,562
Deferred amount on refunding
Current portion of long-term debt:

Governmental (2,081,669)
Electric Utility (8,923,080)
Water Utility (688,264)
Wastewater Utlity (5,104,724)
Airport (129,050)
Convention Center (29,124)
Long-term debt, excluding current portion:

Governmental (30,469,736)
Electric Utility (114,216,448)
Water Utility (705,000)
Wastewater Utlity (53,877,708)
Airport (1,223,961)
Convention Center (60,580)
Advances from other Funds (338,128)
Deferred Gain/Loss on Refunding
Governmental 2,957,756
Electric Utility 7,413,009
Water Utility 71,431
Wastewater Utlity 882,911
Airport 12,110
Debt not used for capital assets
Electric Utility 12
Water Utility 680,215
Net Investment in capital assets $ 358,579,485 307,597,872 $ Packet Pg. 709 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
134
Note 21 – Commitments and Contingencies
A. Construction Commitments
A number of construction contracts existed at June 30, 2021. The unexpended authorized amount of $54,549,717 represents a commitment by the City.

B. Redding Electric Utility (REU)
i) REU is contractually obligated to purchase 7,500 Dth/day of GTN natural gas pipeline capacity which will expire October 31, 2023. REU has sold its delivery rights to the GTN through the remainder of the contract period ending October 31, 2023.

With GTN rate reductions implemented on an annual basis and the sale of the GTN capacity rights, REU realizes a small net revenue from this asset.

Beginning November 1, 2023, REU will permanently release its rights and will no longer have any ownership, fees, or revenue related to the GTN pipeline. ii) REU is contractually committed to purchase natural gas through fiscal year 2025. The following table provides on a fiscal year basis the approximate purchase dollar amount and the percentage these purchases cover of the minimum fuel requirements for the expected operating level of the Redding Power facility. 2022 2023 2024 2025
Purchase Cost $ (million) 7.3 $ 7.5 $ 7.0 $ 6.5 $
% Natural Gas Hedge ** 58% 81% 64% 66%
** This is the % of gas acquired to meet power retail sales after considering all other power resources and before wholesale power and gas transactions.
iii) In 2010, REU entered into a 28 year term contract with Gill Ranch Storage. Under the Agreement REU has leased 2,250,000 Dth of cushion gas initially valued at $13,570,000 to Gill Ranch. Gill Ranch provides REU with monthly lease payments along with approximately 600,000 Dth of natural gas storage. At the end of the contract term in 2038, the cushion gas will be returned to REU unless the lessee executes the option to purchase the gas. If the option is executed the purchase price shall be equal to the original cost of the gas escalated at a rate of 1.08% per annum.
iv) REU has contractually committed to purchase power from M-S-R Public Power Agency on an as-delivered basis from a Pacific Northwest wind project. Deliveries began October 1, 2006. REU’s share of the output from the wind project is approximately 170,000 MWh per year. The twenty-year contract with an option to extend five years has an $11,850,000 annual expected expense. The wind-based energy from this contract is a major source of eligible renewable energy with the associated environmental attributes available to meet REU’s renewable resource portfolio requirements. M-S-R has completed an amendment to the Pacific Northwest Wind Contract which addresses financial responsibility for the Bonneville Power Administration’s Wind Integration Charge (WIC). Currently, the WIC is approximately $1.01 per kw-mo and is included in the annual expected expense mentioned above.

Packet Pg. 710 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
135
Note 21 – Commitments and Contingencies (Continued)
B. Redding Electric Utility (REU) (Continued)
v) Although REU was an early adopter of renewable energy, as covered in the previous item, the California Energy Commission’s (CEC) report for the first “Renewables Portfolio Standard” (RPS) compliance period (2011 – 2013) shows Redding with 8% rather than the 20% target. This is a result of Redding’s City Council allowing large hydro to count towards REU’s renewable energy obligation in accordance with their understanding of the CEC regulations at the time. Later, REU sold off most of its “Renewable Energy Credits” (REC) for 2011 and 2012, which was in keeping with that decision and was for the benefit of its customers. Following the REC sales, the CEC modified the regulations for RPS and applied them retroactively. REU was forced to employ “Optional Compliance Measures” in meeting its RPS obligation for the first compliance period. REU has also considered purchasing short-term RECs in order to meet RPS obligations for the remaining compliance periods.

vi) The City of Redding, in conjunction with the Northern California Power Agency and Cities of Roseville and Santa Clara (collectively the “Plaintiffs”), filed a complaint in September 2014 in the U.S. Court of Claims seeking recovery of more than $45 million in overcharges imposed by the Bureau of Reclamation for the Central Valley Project Improvement Act (CVPIA). The CVPIA, established in 1992, obligates Reclamation to collect roughly $30 million per year (in 1992 dollars) from water and power customers who benefit from the Central Valley Project (CVP), in proportion to the users’ project repayment obligation over a 10-year rolling average. Through the end of 2019, Reclamation estimates CVP capital costs to the power users over the previous 10 years is 34.07%; however, the CVPIA collections had averaged 45% over the same time period. Redding and the other plaintiffs in this claim, believe that Reclamation has overcharged the CVP power customers and are seeking repayment. In July of 2018, the U.S. Court of Federal Claims denied the Plaintiffs’ complaint. Due to the large amount of overcharges, the Plaintiffs filed notices of appeal of the case to the Federal Circuit in September of 2018. On November 6, 2019, the Federal Circuit issued an opinion where they reversed the judgment of the Court of Federal Claims and remanded for future proceedings consistent with the opinion. Determinations of damages and overcharges are ongoing. vii) SB901 was signed by California’s Governor in September 2018. The law requires utilities to prepare wildfire mitigation measures if the utility’s overhead electrical lines and equipment are located in an area that has a significant risk of wildfire resulting from those electrical lines and equipment. The law requires the wildfire mitigation measures to incorporate specified information and procedures and requires the local publiclyowned electric utility, before January 1, 2020, and annually thereafter, to prepare a wildfire mitigation plan.

REU’s electrical infrastructure is located in and adjacent to both California Public Utilities Commission (CPUC) designated Tier 2 and 3 wildfire threat areas. The Redding City Council adopted REU’s SB901 Wildfire Mitigation Plan on December 3, 2019. In addition, as required by the Public Utilities Code section 8387 (c), a qualified independent auditor has reviewed and assessed the comprehensiveness of the plan to ensure compliance.

The plan’s foundation is built on four key programs with the objectives of minimizing sources of ignition as well as improving the resiliency of the electric grid. The programs are as follows: REU Wildfire Prevention and Improved Response Program; REU Technology Solutions Program; REU Distribution 10-year Capital Improvement Program; and REU Emergency Operations Program. The strategies incorporated within the plan to meet the above listed objectives include vegetation management, enhanced inspections, situational awareness, operational practices, system hardening, public safety and notification, reclosing and deenergization and wildfire response and recovery.

Packet Pg. 711 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
136
Note 21 – Commitments and Contingencies (Continued)
B. Redding Electric Utility (REU) (Continued)
viii) The Electric Department’s operations are not directly impacted by Pacific Gas & Electric’s (PG&E) Public Safety Power Shutoff events. Redding is connected to the western grid through the Western Area Power Administration (WAPA) rather than being directly connected to PG&E. In addition, the City is in a separate balancing area than PG&E (Balancing Authority of Northern California). These physical and regulatory separations provide insulation from both Public Safety Power Shutoffs and the resource inadequacy issues California faced during the month of August 2020.

C. West Central Landfill
In 1990 the City entered into an agreement with Shasta County to operate West Central Landfill (the landfill).

Under the agreement, the City is obligated to operate the landfill at least until there are no bonds or contracts outstanding. The 1997 refunding bonds expired July 1, 2010, and the bonds were paid off. The City records the activity and net position of the operations portion of the landfill in its Solid Waste enterprise fund. Net position associated with the landfill, recorded on the City’s books at June 30, 2021, was $5,739,257.

D. Grants
Amounts received or receivable from granting agencies are subject to audit and adjustments by grantor agencies.

While no matters of non-compliance were disclosed by the audit of the financial statements or single audit of the Federal programs, grantor agencies may subject grant programs to additional compliance tests, which may result in disallowed costs. In the opinion of management, future disallowances of current or prior grant expenditures, if any, would not have material adverse effect on the financial position of the City.

E. Litigation
Various claims and suits have been filed against the City in the normal course of business. Although the outcome of these matters is not presently determinable in the opinion of legal counsel, the city believes that the resolutions of these matters will not have a material adverse effect on the financial condition of the City.

Packet Pg. 712 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
137
Note 22 – Successor Agency Trust for Assets of the Former Redevelopment Agency On December 29, 2011, the California Supreme Court upheld Assembly Bill 1X 26 (“the Bill”) that provides for the dissolution of all redevelopment agencies in the State of California. 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. The assets and activities of the dissolved redevelopment agency are reported in a fiduciary fund (private-purpose trust fund) in the financial statements of the City.

The Bill provides that upon dissolution of a redevelopment agency, either the city or another unit of local government will agree to serve as the “successor agency” to hold the assets until they are distributed to other units of state and local government. On January 12, 2012, the City Council elected to become the Successor Agency for the former redevelopment agency in accordance with the Bill as part of City resolution number 2012-001.

Following the disbursement of unencumbered funds, the Department of Finance of the State of California granted a “Finding of Completion” on June 20, 2013, to the City of Redding Successor Agency. The Successor Agency is now allowed to place loan agreements between the former redevelopment agency and sponsoring entity on the Recognized Obligation Payment Schedule and utilize remaining bond proceeds.

Successor agencies are only allocated revenue in the amount that is necessary to pay the estimated annual installment payments on enforceable obligations of the former redevelopment agency until all enforceable obligations of the prior redevelopment agency have been paid in full and all assets have been liquidated.

The Bill directs 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 is not contractually committed to a third party for the expenditure or encumbrance of those assets, the State Controller is required to order the available assets to be transferred to the public body designated as the successor agency by the Bill. The State Controller completed the review of all assets transferred and issued a report dated October 13, 2014.

The review found that the Agency transferred $69,027,149 in assets after January 2, 2011, including unallowable transfers to the City totaling $876,800. The City turned over the $876,800 to the Agency that was subsequently remitted to the Shasta County Auditor-Controller for distribution to the taxing entities.

Packet Pg. 713 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
138
Note 22 – Successor Agency Trust for Assets of the Former Redevelopment Agency (Continued) Long-term debt consisted of the following as of June 30, 2021:

Market Street Tax Allocation Bonds, Series 2003:

Interest from 2.0% to 5.679% payable March 1 and September 1; maturities are payable September 1 in annual redemptions from $170,000 to $400,000; final payment September 1, 2023. Original issue: $5,185,000. Proceeds from the Series 2003 Bonds are used to finance various capital improvements within the Market Street Redevelopment Area. $ 1,145,000
Canby-Hilltop-Cypress Tax Allocation Bonds, Series B:

Interest from 4.5% to 4.875% payable March 1 and September 1; maturities are payable beginning September 1, 2016, in annual redemptions from $105,000 to $745,000; final payment September 1, 2021. Original issue: $3,500,000. Proceeds from the Series B Bond are used for housing projects. 745,000 Canby-Hilltop-Cypress Tax Allocation Bonds, Series A 2003:

Interest from 2.0% to 5.0% payable March 1 and September 1; maturities are payable September 1 in annual redemptions from $1,040,000 to $2,055,000; final payment September 1, 2023. Original issue: $28,935,000. Proceeds from the Series A 2003 Bonds are used to finance various capital improvements within the Canby-HilltopCypress Redevelopment Area. 5,810,000 SHASTEC Tax Allocation Bonds, Series 2006:

Interest from 4.0% to 5.0% payable March 1 and September 1; maturities are payable September 1 in annual redemptions from $245,000 to $5,585,000; final payment September 1, 2036. Original issue: $15,000,000. Proceeds from the Series 2006 Bonds are used to finance various capital improvements within the SHASTEC Redevelopment Area. 10,450,000
Total Bonds Outstanding 18,150,000
Discount on Market Street Tax Allocation Bonds, Series 2003 (5,5 41) Discount on Canby-Hilltop-Cypress Tax Allocation Bonds, Series B (915) Premium on Canby-Hilltop-Cypress Tax Allocation Bonds, Series A 2003 8,156 Discount on SHASTEC Tax Allocation Bonds, Series 2006 (33,420) Total Discount/Premium (31,720)
Total Long-Term Bonded Debt 18,118,280 $

Packet Pg. 714 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2021
139
Note 22 – Successor Agency Trust for Assets of the Former Redevelopment Agency (Continued) Annual requirements to amortize long-term bonds outstanding as of June 30, 2021, are set forth below:

Fiscal Year Principal Interest Total
2022 3,515,000 809,502 4,324,502
2023 2,905,000 650,660 3,555,660
2024 2,685,000 511,125 3,196,125
2025 510,000 432,750 942,750
2026 535,000 409,238 944,238
2027-2031 3,100,000 1,626,850 4,726,850
2032-2036 3,980,000 747,000 4,727,000
2037-2041 920,000 23,000 943,000
Total 18,150,000 $ 5,210,125 $ 23,360,125 $
Note 23 – American Rescue Plan Act
On March 11, 2021 President Joe Biden signed into law H.R. 1319 – American Rescue Plan Act of 2021 to combat the impacts of the COVID-19 pandemic and lay the foundation for a strong economic recovery. The total bill was a $1.9 trillion-dollar package and included $350 billion dollars in funding for state, local, territorial, and tribal governments. The specific breakdown of this $350 billion included: $195 billion for states, $130 billion for local governments, $20 billion for tribal governments, and $4.5 billion for territories. The City of Redding was allocated $18,693,433 as a result of the passage of the bill. This funding will be received in two equal $9,346,717 tranches from the Treasury Department. The first tranche was received on May 21, 2021 and the second tranche will be distributed 365 days from that day. The ARPA funding requires obligation of recovery funds by December 31, 2024 and expenditure of funds by December 31, 2026. As of June 30, 2021, a total of $9,346,717 is reported in unearned revenue in the general fund.

Packet Pg. 715 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
140
Packet Pg. 716 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Required Supplementary
Information (Unaudited)
141
Packet Pg. 717 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 142
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Packet Pg. 718 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) City of Redding
Required Supplementary Information
Budgetary Information
For the Year Ended June 30, 2021
143
Note 1 – Budgetary Principles
Budget Data
The operating budget of the City is adopted by the City Council prior to July 1 each year primarily on a cash basis.

The City Manager is authorized to transfer budget amounts between divisions of a department within any fund; however, any revisions that alter the total expenditures of any fund require City Council resolution.

Budget information is adopted and presented for the general, special revenue (except for the Landscape Maintenance Districts and Asset Seizure Fund), capital project and the debt service funds. The presentations represent original appropriations adjusted for supplemental appropriations, if any, made during the year.

The City does not formally adopt a budget for the debt service fund. The bond documents are the controlling factor.

Summary of Differences between Budgetary Basis and Generally Accepted Accounting Principles (GAAP) The following are the differences between the City’s budgetary basis and GAAP:

A. The City does not budget for the fair market value adjustment required under GASB 31.

B. The City does not budget for accounts payable or intergovernmental payables.

C. The City does not budget for benefit accruals.

D. The City budgets for certain receivables and payables on a cash basis.

E. The City budgets for land to be held for resale as expenditure.

F. Encumbrances are not included in the Statement of Revenue, Expenditures and Changes in Fund Balance
Budgetary Basis Reconciliation
Budgets are not adopted for the Landscape Maintenance Districts Fund and the Asset Seizure Fund.

Packet Pg. 719 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Actual Variance With
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Property taxes 21,333,900 $ 21,333,900 $ 22,809,135 $ 1,475,235 $ Sales and use taxes 26,275,000 26,275,000 30,189,084 3,914,084 Other taxes 8,519,100 9,020,260 10,486,553 1,466,293
Licenses and permits 1,982,550 2,058,120 2,417,478 359,358 Intergovernmental revenues 1,421,310 5,266,460 2,920,449 (2,346,011) Charges for services 2,079,940 4,224,560 4,756,529 531,969 Fines, forfeitures, and penalties 576,940 1,172,010 1,250,753 78,743 Use of money and property 8,361,540 8,361,540 6,586,635 (1,774,905) Net Investment Earnings (Loss) 108,490 108,490 (122,422) (230,912) Other revenue 420,240 722,060 1,006,541 284,481
Total revenues 78,542,400 71,079,010 82,300,735 3,758,335 EXPENDITURES:

Current:

General government:
650,780 653,920 419,052 231,728
896,285 923,535 725,435 170,850
3,797,750 2,303,780 2,811,336 986,414
610,710 615,990 580,374 30,336
1,466,570 1,401,220 1,347,307 119,263
Personnel 426,000 423,990 400,215 23,775
Purchasing 669,070 597,020 540,556 56,464
Public safety:

Police 33,207,450 37,684,580 36,136,216 1,548,364
Fire safety 21,920,940 28,701,380 28,539,845 161,535
Public works 10,387,665 16,910,765 10,385,844 6,524,921 Planning 4,594,460 5,723,250 5,073,574 649,676
Recreation and culture 6,769,664 8,017,294 6,434,647 1,582,647 Debt Service:

Principal payments 1,943,970 1,593,970 1,593,967 3
Interest and fiscal charges 1,067,290 1,030,390 1,029,231 1,159 Total expenditures 108,104,734 86,884,954 96,017,599 12,087,135 REVENUES OVER (UNDER) EXPENDITURES (15,805,944) (29,562,334) 15,845,470 (13,716,864) OTHER FINANCING SOURCES (USES):

Sale of capital assets - 500,000 856,834 356,834
Transfers in 13,234,750 21,047,690 14,101,051 (6,946,639) Transfers out (2,777,810) (2,673,960) (2,559,632) 114,328 Total other financing sources (uses) 18,873,730 10,456,940 12,398,253 (6,475,477) CHANGE IN FUND BALANCE (5,349,004) (10,688,604) 9,369,993 (1,318,611) BUDGETARY FUND BALANCES:

Beginning of year 22,344,668 22,344,668 22,344,668 -
End of year 16,995,664 $ 11,656,064 $ 21,026,057 $ 9,369,993 $ (Continued)
City of Redding
Schedule of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual General Fund
For the Year Ended June 30, 2021
Finance
City Treasurer
Budgeted Amounts
City Attorney
City Clerk
City Manager
144 Packet Pg. 720 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) $ 30,506,787

1. The City budgets for taxes on a cash basis. (1,475,972)

2. The City budgets for grants on a cash basis. (13,215)

3. Timing difference due to GASB #33. 23,738

4. The City does not budget for accounts payable adjustments. 12,404

5. The City does not budget for benefit accruals. (152,113)

6. Financial statement only adjustment for GASB #31. 94,390

7. The City does not budget for interest, sale of property or rental income related to the rolling stock fund. The City budgets only for the transfers in and out of the rolling stock fund. (34,586)

8. The City does not budget for special assessments. (13,350)

9. The City does not budget for interest on the long-term advances. 27,924

10. Encumbrances are not included in the Statement of Revenues, Expenditures and Changes in Fund Balance. (3,827,585)

11. The City does not budget for developer's fees that are prepaid. 80,651

11. The City budgeted for prepaid expenditures. (4,739,942)

12. The City does not budget for interest on deposits held in trust. (4,173)

13. The City Budgets for cash transfers to/from other funds as loans, but records the advances in advances receivable/payable on the balance sheet. 681,400

15. The City does not budget for CalFire Lease of Cypress Property that Makes Loan Payment (175,258)

16. The City does not budget for interest expended on loan for CalPers UAL prepayment 34,957 Budgetary Fund Balance $ 21,026,057
(Concluded)
Explanation of differences from the Statement of Revenues, Expenditures and Changes in Fund Balances to Actual Amounts Budgetary Basis:

Fund Balance from the Statement of Revenues, Expenditures and Changes in Fund Balances General Fund (Continued)
For the Year Ended June 30, 2021
Schedule of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual City of Redding
145 Packet Pg. 721 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Measurement Period 2020
TOTAL PENSION LIABILITY:

Service Costs $ 7,095,018
Interest 32,355,397
Difference Between Expected and Actual Experience 1,379,900 Changes of Assumptions -
Benefit Payments, Including Refunds of Employee Contributions (2 6,359,866) Net Change in Total Pension Liability 14,470,449
Total Pension Liability - Beginning 460,775,550
Total Pension Liability - Ending (a) $ 475,245,999
PLAN FIDUCIARY NET POSITION:

Contributions - Employer $ 13,743,592
Contributions - Employee 3,533,531
Net Investment Income 15,455,298
Benefit Payments, Including Refunds of Employee Contributions (2 6,359,866) Plan to Plan Resource Movement -
Administrative Expense (440,162)
Other Miscellaneous Income/(Expense)1
-
Net Change in Fiduciary Net Position 5,932,393
Plan Fiduciary Net Position - Beginning2
312,225,622
Plan Fiduciary Net Position - Ending (b) $ 318,158,015
Plan Net Pension Liability/(Asset) - Ending (a) - (b) 157,087,98 $ 4 Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 66.95% Covered Payroll $ 42,974,064
Plan Net Pension Liability/(Asset) as a Percentage of Covered Payroll 365.54% Notes to Schedules of Changes in Net Pension Liability and Related Ratios:

City of Redding
Required Supplementary Information
Schedules of Changes in Net Pension Liability and Related Ratios For the Year Ended June 30, 2021
1 During Fiscal Year 2017-18, as a result of Governmental Accounting Standard Board Statement (GASB No. 75, Accounting and Financial Reporting for Postemployment Benefit Plans Other than Pensions (GASB 75), CalPERS reported its proportionate share of activity related to postemployment benefits for participation in the State of California's agent OPEB plan. Accordingly, CalPERS recorded a one-time expenses as a result of the adoption of GASB 75.

Additionally, CalPERS employees participate in various State of California agent pension plans and during Fiscal Year 2017-18, CalPERS recorded a correction to previously reported financial statements to properly reflect its proportionate share of activity related to pensions in accordance with GASB Statement No. 68, Accounting and Financial Reportion for Pensions (GASB 68). 2 Includes any beginning of year adjustment.

The Required Supplementary Information for Schedules of Changes in Net Pension Liability and Related Ratios is intended to show information for ten years; as additional years' information becomes available it will be displayed accordingly.

California Public Employees' Retirement System ("CalPERS") - Miscellaneous Plan 146 Packet Pg. 722 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2019 2018 2017 2016 2015 2014
1,258,688
$ 7,260,646 7,333,947 $ 7,191,855 $ 6,259,646 $ 6,164,984 $ 6,465,244 $ 30,024,355 31,319,926 29,157,632 28,527,904 27,466,002 26,335,482 414,506 4,475,575 (3,221,954) (705,952) (551,120) -
(2,598,628) - 23,416,908 - (6,578,864) -
(22,850,231) (24,504,515) (21,305,301) (19,821,373) (18,361,188) (16,894,132) 12,250,648 18,624,933 78,596,709 14,260,225 8,139,814 15,906,594 429,899,969 442,150,617 394,660,829 380,400,604 372,260,790 356,354,196 $ 442,150,617 460,775,550 $ 473,257,538 $ 394,660,829 $ 380,400,604 $ 372,260,790 $ $ 10,902,871 12,199,094 $ 10,045,335 $ 8,742,083 $ 7,771,417 $ 7,140,089 $ 3,149,996 3,132,551 3,177,532 2,849,237 2,892,519 2,924,099 24,307,041 19,732,888 29,710,153 1,432,535 6,167,183 41,359,309 (22,850,231) (24,504,515) (21,305,301) (19,821,373) (18,361,188) (16,894,132) (702) - (145) (1,256) 20,221 -
(448,271) (215,428) (393,376) (166,624) (307,951) -
(851,273) 702 - - - -
14,209,431 10,345,292 21,234,198 (6,965,398) (1,817,799) 34,529,365 287,670,899 301,880,330 266,436,701 273,402,099 275,219,898 240,690,533 $ 301,880,330 312,225,622 $ 287,670,899 $ 296,204,582 $ 303,236,784 $ 310,058,548 $ $ 140,270,287 148,549,928 $ 185,586,639 $ 98,456,247 $ 77,163,820 $ 62,202,242 $

67.76% 68.28% 66.92% 67.51% 71.87% 73.93%
$ 43,633,688 43,942,160 $ 42,409,809 $ 41,323,256 $ 40,294,018 $ 40,286,914 $ 338.06% 321.47% 335.37% 310.30% 265.54% 240.87%
For the Year Ended June 30, 2021
Schedules of Changes in Net Pension Liability and Related Ratios Required Supplementary Information
City of Redding
California Public Employees' Retirement System ("CalPERS") - Miscellaneous Plan 147 Packet Pg. 723 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2021
Actuarially Determined Contribution 2 $ 15,066,353
Contributions in Relations to the Actuarially Determined Contribution 2 (15,066,353)
Contribution Deficiency (Excess) $ -
Covered Payroll 3 $ 46,184,875
Contributions as a Percentage of Covered-Employee Payroll 3 32.62% 1 As prescribed in GASB 68, paragraph 46, the information presented in the Schedule of Plan Contributions should also be determined as of the employer's most recent fiscal year-end. The employer is responsible for determining this information as prescribed by the standard as this data is not available to CalPERS.
2 Employers are assumed to make contributions equal to the actuarially determined contributions. However, some employers may choose to make additional contributions towards their unfunded liability. Employer contributions for such plans exceed the actuarially determined contributions.

Notes to Schedule of Plan Contributions:

City of Redding
Required Supplementary Information
Schedule of Plan Contributions
For the Year Ended June 30, 2021
The Required Supplementary Information for Schedule of Plan Contributions is intended to show information for ten years; as additional years' information becomes available it will be displayed accordingly. 3 Includes one year's payroll growth using 2.75 percent payroll assumption for fiscal year ended June 30, 2018; 3.00 percent payroll assumption for fiscal years ended June 30, 2014-17.

California Public Employees' Retirement System ("CalPERS") - Miscellaneous Plan 148 Packet Pg. 724 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2020 2019 2018 2017 2016 2015 2014
$ 12,199,094 13,743,592 $ 10,902,871 $ 10,045,335 $ 8,742,083 $ 7,771,417 $ 7,140,089 $ (12,199,094) (13,743,592) (10,902,871) (10,045,335) (8,742,083) (7,771,417) (7,140,089) $ - - $ - $ - $ - $ - $ - $
$ 43,942,160 42,974,064 $ 43,633,688 $ 42,409,809 $ 41,323,256 $ 40,294,018 $ 40,286,914 $

31.98% 27.76% 24.99% 23.69% 21.16% 19.29% 17.72%
California Public Employees' Retirement System ("CalPERS") - Miscellaneous Plan City of Redding
Required Supplementary Information
Schedule of Plan Contributions
For the Year Ended June 30, 2021
149 Packet Pg. 725 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Measurement Period 2020
TOTAL PENSION LIABILITY:

Service Costs $ 5,609,745
Interest 22,885,014
Difference Between Expected and Actual Experience 198,438 Changes of Assumptions -
Benefit Payments, Including Refunds of Employee Contributions (1 6,785,010) Net Change in Total Pension Liability 11,908,187
Total Pension Liability - Beginning 325,459,333
Total Pension Liability - Ending (a) $ 337,367,520
PLAN FIDUCIARY NET POSITION:

Contributions - Employer $ 10,962,279
Contributions - Employee 2,206,742
Net Investment Income 10,081,863
Benefit Payments, Including Refunds of Employee Contributions (1 6,785,010) Plan to Plan Resource Movement -
Administrative Expense (285,977)
Other Miscellaneous Income/(Expense)
1 -
Net Change in Fiduciary Net Position 6,179,897
Plan Fiduciary Net Position - Beginning2
202,856,046
Plan Fiduciary Net Position - Ending (b) $ 209,035,943
Plan Net Pension Liability/(Asset) - Ending (a) - (b) 128,331,57 $ 7 Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 61.96% Covered Payroll $ 18,386,577
Plan Net Pension Liability/(Asset) as a Percentage of Covered Payroll 697.96% Notes to Schedules of Changes in Net Pension Liability and Related Ratios:

California Public Employees' Retirement System ("CalPERS") - Safety Plan City of Redding
Required Supplementary Information
Schedules of Changes in Net Pension Liability and Related Ratios 1 During Fiscal Year 2017-18, as a result of Governmental Accounting Standard Board Statement (GASB No. 75, Accounting and Financial Reporting for Postemployment Benefit Plans Other than Pensions (GASB 75), CalPERS reported its proportionate share of activity related to postemployment benefits for participation in the State of California's agent OPEB plan. Accordingly, CalPERS recorded a one-time expenses as a result of the adoption of GASB 75.

Additionally, CalPERS employees participate in various State of California agent pension plans and during Fiscal Year 2017-18, CalPERS recorded a correction to previously reported financial statements to properly reflect its proportionate share of activity related to pensions in accordance with GASB Statement No. 68, Accounting and Financial Reportion for Pensions (GASB 68). 2 Includes any beginning of year adjustment.

The Required Supplementary Information for Schedules of Changes in Net Pension Liability and Related Ratios is intended to show information for ten years; as additional years' information becomes available it will be displayed accordingly.

For the Year Ended June 30, 2021
150 Packet Pg. 726 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2019 2018 2017 2016 2015 2014
$ 5,621,256 5,654,637 $ 5,567,053 $ 1,258,688 $ 4,702,492 $ 4,982,595 $ 21,033,750 22,052,183 20,189,512 19,492,841 18,712,421 18,027,294 1,287,937 2,573,209 (1,169,833) (610,852) (1,889,558) - (1,265,088) - 17,369,797 - (4,730,135) -
(14,317,530) (15,684,647) (13,680,425) (13,015,636) (12,355,104) (11,659,397) 12,360,325 14,595,382 28,276,104 7,125,041 4,440,116 11,350,492 298,503,626 310,863,951 270,227,522 259,492,927 255,052,811 243,702,319 $ 310,863,951 325,459,333 $ 78,596,709 $ 266,617,968 $ 259,492,927 $ 255,052,811 $ $ 9,016,294 9,775,655 $ 8,645,061 $ 7,839,435 $ 7,466,754 $ 6,761,771 $ 2,086,601 1,983,768 1,955,068 1,620,695 1,570,703 1,517,735 15,509,897 12,784,582 18,500,188 828,855 3,715,343 25,448,647 (14,317,530) (15,684,647) (13,680,425) (13,015,636) (12,355,104) (11,659,397) (452) - - 1,256 193,399 -
(284,643) (138,539) (247,291) (103,802) (191,504) -
(540,541) 452 - - - -
11,469,626 8,721,271 15,172,601 (2,829,197) 399,591 22,068,756 182,665,149 194,134,775 167,492,548 170,321,745 169,922,154 147,853,398 $ 194,134,775 202,856,046 $ 182,665,149 $ 167,492,548 $ 170,321,745 $ 169,922,154 $ $ 116,729,176 122,603,287 $ (104,068,440) $ 99,125,420 $ 89,171,182 $ 85,130,657 $

62.33% 62.45% 61.19% 61.98% 65.64% 66.62%
$ 18,109,134 18,244,296 $ 17,705,784 $ 29,767,881 $ 29,834,685 $ 34,838,650 $ 672.01% 644.59% 654.24% 593.38% 537.11% 506.71%
California Public Employees' Retirement System ("CalPERS") - Safety Plan For the Year Ended June 30, 2021
City of Redding
Required Supplementary Information
Schedules of Changes in Net Pension Liability and Related Ratios 151 Packet Pg. 727 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2021
Actuarially Determined Contribution 2 $ 12,015,895
Contributions in Relations to the Actuarially Determined Contribution 2 (12,015,895)
Contribution Deficiency (Excess) $ -
Covered Payroll 3 $ 19,383,450
Contributions as a Percentage of Covered Payroll 3 61.99% 1 As prescribed in GASB 68, paragraph 46, the information presented in the Schedule of Plan Contributions should also be determined as of the employer's most recent fiscal year-end. The employer is responsible for determining this information as prescribed by the standard as this data is not available to CalPERS.
2 Employers are assumed to make contributions equal to the actuarially determined contributions. However, some employers may choose to make additional contributions towards their unfunded liability. Employer contributions for such plans exceed the actuarially determined contributions.

Notes to Schedule of Plan Contributions:

City of Redding
Required Supplementary Information
Schedule of Plan Contributions
California Public Employees' Retirement System ("CalPERS") - Safety Plan For the Year Ended June 30, 2021
The Required Supplementary Information for Schedule of Plan Contributions is intended to show information for ten years; as additional years' information becomes available it will be displayed accordingly. 3 Includes one year's payroll growth using 2.75 percent payroll assumption for fiscal year ended June 30, 2018; 3.00 percent payroll assumption for fiscal years ended June 30, 2014-17.
152 Packet Pg. 728 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2020 2019 2018 2017 2016 2015 2014
$ 9,775,655 10,962,279 $ 9,016,294 $ 8,645,061 $ 7,839,435 $ 7,466,754 $ 6,761,771 $ (9,775,655) (10,962,279) (9,016,294) (8,645,061) (7,839,435) (7,466,754) (6,761,771) $ - - $ - $ - $ - $ - $ - $
$ 18,244,296 18,386,577 $ 18,109,134 $ 17,705,784 $ 17,313,615 $ 16,601,913 $ 16,800,737 $

59.62% 53.58% 49.79% 48.83% 45.28% 44.98% 40.25%
California Public Employees' Retirement System ("CalPERS") - Safety Plan City of Redding
Required Supplementary Information
Schedule of Plan Contributions
For the Year Ended June 30, 2021
153 Packet Pg. 729 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Measurement Period 2020
TOTAL PENSION LIABILITY:

Service Costs $ 909,470
Interest 5,933,422
Effect of economic/demographic gains or losses 535,027
Changes of Assumptions -
Benefit Payments, Including Refunds of Employee Contributions (4 ,896,050) Net Change in Total Pension Liability $ 2,481,869
Total Pension Liability - Beginning 86,260,332
Total Pension Liability - Ending (a) $ 88,742,201
PLAN FIDUCIARY NET POSITION:

Contributions - Employer $ 6,888,868
Contributions - Employee 224,631
Net Investment Income 2 2,318,864
Benefit Payments, Including Refunds of Employee Contributions (4 ,896,050) Administrative Expenses (324,596)
Net Change in Fiduciary Net Position 4,211,717
Plan Fiduciary Net Position - Beginning 55,486,072
Plan Fiduciary Net Position - Ending (b) $ 59,697,789
Plan Net Pension Liability/(Asset) - Ending (a) - (b) 29,044,412 $ Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 67.27% Covered Payroll $ 21,474,397
Plan Net Pension Liability/(Asset) as a Percentage of Covered Payroll 135.25% 1 Historical information is presented only for measurement periods for which GASB 68 is applicable. 2 Net of administrative expenses.

Notes to Schedules of Changes in Net Pension Liability and Related Ratios:

Changes of Assumptions: There were no changes in assumptions.

City of Redding
Required Supplementary Information
Schedules of Changes in Net Pension Liability and Related Ratios The Required Supplementary Information for Schedules of Changes in Net Pension Liability and Related Ratios is intended to show information for ten years; as additional years' information becomes available it will be displayed accordingly.

Benefit Changes: The figures above do not include any liability impact that may have resulted from plan changes which occurred after June 30, 2014. This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).

For the Year Ended June 30, 2021
Public Agency Retirement System - Miscellaneous Plan (PARS) 1 154 Packet Pg. 730 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2019 2018 2017 2016 2015 2014
$ 1,441,162 1,122,061 $ 1,258,688 $ 1,170,873 $ 1,478,671 $ 1,432,128 $ 5,468,051 5,794,604 5,387,397 5,162,353 4,941,220 4,689,105 2,071,932 - - 92,895 - -
456,118 - 3,255,582 - - -
(4,138,653) (4,551,652) (3,689,765) (3,343,227) (2,990,408) (2,628,633) $ 5,298,610 2,365,013 $ 6,211,902 $ 3,082,894 $ 3,429,483 $ 3,492,600 $ 78,596,709 83,895,319 72,384,807 69,301,913 65,872,430 62,379,830 $ 83,895,319 86,260,332 $ 78,596,709 $ 72,384,807 $ 69,301,913 $ 65,872,430 $ $ 6,648,630 5,944,074 $ 4,816,795 $ 5,020,997 $ 5,760,375 $ 6,042,892 $ 92,709 122,545 - - - -
3,208,975 3,330,635 4,418,967 643,326 998,681 4,209,807 (4,138,653) (4,551,652) (3,689,765) (3,343,227) (2,990,408) (2,628,633) (338,499) (366,455) (301,577) (269,745) (258,434) (219,880) 5,473,162 4,479,147 5,244,420 2,051,351 3,510,214 7,404,186 45,533,763 51,006,925 40,289,343 38,237,992 34,727,778 27,323,592 $ 51,006,925 55,486,072 $ 45,533,763 $ 40,289,343 $ 38,237,992 $ 34,727,778 $ $ 32,888,394 30,774,260 $ 33,062,946 $ 32,095,464 $ 31,063,921 $ 31,144,652 $

64.32% 60.80% 57.93% 55.66% 55.18% 52.72%
$ 27,974,321 23,687,133 $ 29,767,881 $ 29,834,685 $ 34,838,650 $ 33,451,518 $ 129.92% 117.57% 111.07% 107.58% 89.17% 93.10%
City of Redding
Required Supplementary Information
Schedules of Changes in Net Pension Liability and Related Ratios Public Agency Retirement System - Miscellaneous Plan (PARS) For the Year Ended June 30, 2021
155 Packet Pg. 731 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Measurement Period 2020
TOTAL PENSION LIABILITY:

Service Costs $ 7,095,018
Interest 32,355,397
Difference Between Expected and Actual Experience 1,379,900 Changes of Assumptions -
Benefit Payments, Including Refunds of Employee Contributions (2 6,359,866) Net Change in Total Pension Liability 14,470,449
Total Pension Liability - Beginning 460,775,550
Total Pension Liability - Ending (a) $ 475,245,999
PLAN FIDUCIARY NET POSITION:

Contributions - Employer $ 13,743,592
Contributions - Employee 3,533,531
Net Investment Income 15,455,298
Benefit Payments, Including Refunds of Employee Contributions (2 6,359,866) Plan to Plan Resource Movement -
Administrative Expense (440,162)
Other Miscellaneous Income/(Expense)1
-
Net Change in Fiduciary Net Position 5,932,393
Plan Fiduciary Net Position - Beginning2
312,225,622
Plan Fiduciary Net Position - Ending (b) $ 318,158,015
Plan Net Pension Liability/(Asset) - Ending (a) - (b) 157,087,98 $ 4 Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 66.95% Covered Payroll $ 42,974,064
Plan Net Pension Liability/(Asset) as a Percentage of Covered Payroll 365.54% Notes to Schedules of Changes in Net Pension Liability and Related Ratios:

City of Redding
Required Supplementary Information
Schedules of Changes in Net Pension Liability and Related Ratios The Required Supplementary Information for Schedules of Changes in Net Pension Liability and Related Ratios is intended to show information for ten years; as additional years' information becomes available it will be displayed accordingly.

For the Year Ended June 30, 2021
California Public Employees' Retirement System ("CalPERS") - Miscellaneous Plan 1 During Fiscal Year 2017-18, as a result of Governmental Accounting Standard Board Statement (GASB No. 75, Accounting and Financial Reporting for Postemployment Benefit Plans Other than Pensions (GASB 75), CalPERS reported its proportionate share of activity related to postemployment benefits for participation in the State of California's agent OPEB plan. Accordingly, CalPERS recorded a one-time expenses as a result of the adoption of GASB 75.

Additionally, CalPERS employees participate in various State of California agent pension plans and during Fiscal Year 2017-18, CalPERS recorded a correction to previously reported financial statements to properly reflect its proportionate share of activity related to pensions in accordance with GASB Statement No. 68, Accounting and Financial Reportion for Pensions (GASB 68). 2 Includes any beginning of year adjustment.
156 Packet Pg. 732 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2019 2018 2017 2016 2015 2014
1,258,688
$ 7,260,646 7,333,947 $ 7,191,855 $ 6,259,646 $ 6,164,984 $ 6,465,244 $ 30,024,355 31,319,926 29,157,632 28,527,904 27,466,002 26,335,482 414,506 4,475,575 (3,221,954) (705,952) (551,120) -
(2,598,628) - 23,416,908 - (6,578,864) -
(22,850,231) (24,504,515) (21,305,301) (19,821,373) (18,361,188) (16,894,132) 12,250,648 18,624,933 78,596,709 14,260,225 8,139,814 15,906,594 429,899,969 442,150,617 394,660,829 380,400,604 372,260,790 356,354,196 $ 442,150,617 460,775,550 $ 473,257,538 $ 394,660,829 $ 380,400,604 $ 372,260,790 $ $ 10,902,871 12,199,094 $ 10,045,335 $ 8,742,083 $ 7,771,417 $ 7,140,089 $ 3,149,996 3,132,551 3,177,532 2,849,237 2,892,519 2,924,099 24,307,041 19,732,888 29,710,153 1,432,535 6,167,183 41,359,309 (22,850,231) (24,504,515) (21,305,301) (19,821,373) (18,361,188) (16,894,132) (702) - (145) (1,256) 20,221 -
(448,271) (215,428) (393,376) (166,624) (307,951) -
(851,273) 702 - - - -
14,209,431 10,345,292 21,234,198 (6,965,398) (1,817,799) 34,529,365 287,670,899 301,880,330 266,436,701 273,402,099 275,219,898 240,690,533 $ 301,880,330 312,225,622 $ 287,670,899 $ 296,204,582 $ 303,236,784 $ 310,058,548 $ $ 140,270,287 148,549,928 $ 185,586,639 $ 98,456,247 $ 77,163,820 $ 62,202,242 $

67.76% 68.28% 66.92% 67.51% 71.87% 73.93%
$ 43,633,688 43,942,160 $ 42,409,809 $ 41,323,256 $ 40,294,018 $ 40,286,914 $ 338.06% 321.47% 335.37% 310.30% 265.54% 240.87%
City of Redding
Required Supplementary Information
Schedules of Changes in Net Pension Liability and Related Ratios For the Year Ended June 30, 2021
California Public Employees' Retirement System ("CalPERS") - Miscellaneous Plan 157 Packet Pg. 733 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2021
Actuarially Determined Contribution 2 $ 7,158,333
(7,158,333)
Contribution Deficiency (Excess) $ -
Covered Payroll 3 $ 21,054,825
Contributions as a Percentage of Covered Payroll 3 34.00% 1 Historical information is presented only for measurement periods for which GASB 68 is applicable. 2 Employers are assumed to make contributions equal to the actuarially determined contributions. However, some employers may choose to make additional contributions towards their unfunded liability. Employer contributions for such plans exceed the actuarially determined contributions.
3 Covered Payroll represented above is based on pensionable earnings provided by the employer. However, GASB 68 defines covered payroll as the total payroll of employees that are provided pensions through the pension plan.

Accordingly, if pensionable earnings are different than total earnings for the covered-employees, the employer should display in the disclosure footnotes the payroll passed on total earnings for the covered group and recalculate the required payroll-related ratios.

Notes to Schedules:

The following actuarial methods and assumptions were used in the July 1, 2017 funding valuation. Please see the valuation report dated April 25, 2017 for further details.

Valuation Timing Actuarially determined contribution rates are calculated as of June 30, two years prior to the end of the fiscal year in which the contributions are reported.

Actuarial Cost Method
Amortization Method/Period Level dollar, closed, amortization period at 1/1/2014 was 11 years Asset Valuation Method None
Inflation
Salary Increases
Payroll Growth
Investment Rate of Return 7.01% Graded Net of Pension Plan Investment and Administrative Expenses Cost of Living Adjustments 2.00%
Withdrawal
Mortality Pre-Retirement/Post-Retirement: CalPERS 1997-2011 Healthy Retiree Tables (sex distinct) projected using Scale AA and base year of 2008.

Disability None assumed.
y
Contribution 2
Entry Age Normal

3.00%
Varies by Years of Service
City of Redding
Required Supplementary Information
Schedules of Public Agency Retirement Services Retirement Enhancement Plan Contributions All Tiers Public Agency Retirement System - Miscellaneous Plan (PARS) All Tiers 1 For the Year Ended June 30, 2021
Consistent with Non-Industrial rates used to value the Miscellaneous CalPERS Pension Plan.

The Required Supplementary Information for Schedules of Public Agency Retirement Services Retirement Enhancement Plan Contributions All Tiers is intended to show information for ten years; as additional years' information becomes available it will be displayed accordingly.

3.25%
158 Packet Pg. 734 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2020 2019 2018 2017 2016 2015 2014
$ 5,917,528 6,925,920 $ 6,988,001 $ 4,816,795 $ 5,020,997 $ 5,760,375 $ 6,042,892 $ (5,917,528) (6,888,868) (6,988,001) 1,258,688 (5,020,997) (5,760,375) (6,042,892) $ - 37,052 $ - $ 6,075,483 $ - $ - $ - $
$ 23,687,133 21,474,397 $ 27,974,321 $ 29,767,881 $ 29,834,685 $ 34,838,650 $ 33,451,518 $

32.25% 24.98% 24.98% 16.18% 16.83% 16.53% 18.06%
City of Redding
Required Supplementary Information
Schedules of Public Agency Retirement Services Retirement Enhancement Plan Contributions All Tiers For the Year Ended June 30, 2021
Public Agency Retirement System - Miscellaneous Plan (PARS) All Tiers 159 Packet Pg. 735 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Measurement Period 2020
TOTAL OPEB LIABILITY:

Service Costs $ 2,266,201
Interest 1,532,174
Difference Between Expected and Actual Experience -
Changes of Assumptions (2,741,226)
Benefit Payments, Including Refunds of Employee Contributions (3 ,753,880) Net Change in Total OPEB Liability $ (2,696,731)
Total OPEB Liability - Beginning 43,387,141
Total OPEB Liability - Ending (a) $ 40,690,410
PLAN FIDUCIARY NET POSITION:

Contributions - Employer $ 3,753,880
Net Investment Income 634
Benefit Payments, Including Refunds of Employee Contributions (3 ,753,880) Administrative Expenses (131)
Net Change in Fiduciary Net Position 503
Plan Fiduciary Net Position - Beginning 52,188
Plan Fiduciary Net Position - Ending (b) $ 52,691
Plan Net OPEB Liability/(Asset) - Ending (a) - (b) 40,637,719 $ Plan Fiduciary Net Position as a Percentage of the Total OPEB Liability 0.13% Covered-Employee Payroll $ 58,084,647
Plan Net OPEB Liability/(Asset) as a Percentage of Covered-Employee Payroll 69.96% 1 Historical information is required only for measurement periods for which GASB 75 is applicable.

Notes to Schedules of Changes in Net OPEB Liability and Related Ratios:

Changes of Assumptions: There were no changes in assumptions.

Other Postemployment Benefits (OPEB)
The Required Supplementary Information for Schedules of Changes in Net OPEB Liability and Related Ratios is intended to show information for ten years; as additional years' information becomes available it will be displayed accordingly.

City of Redding
Required Supplementary Information
Schedules of Changes in Net OPEB Liability and Related Ratios For the Year Ended June 30, 2021
160 Packet Pg. 736 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Measurement Period 2019 2018 2017
TOTAL OPEB LIABILITY:

Service Costs (13,080) $ (185,355) $ (744,002) $
Interest 1,124,094 1,185,185 852,000
Difference Between Expected and Actual Experience 3,574,842 - - Changes of Assumptions 9,724,504 1,582,262 4,331,000
Benefit Payments, Including Refunds of Employee Contributions (3 (3,490,701) ,444,608) (3,480,000) Net Change in Total OPEB Liability 11,026,843 $ (969,700) $ 958,998 $ Total OPEB Liability - Beginning 32,360,298 33,329,998 32,371,000 Total OPEB Liability - Ending (a) 43,387,141 $ 32,360,298 $ 33,329,998 $ PLAN FIDUCIARY NET POSITION:

Contributions - Employer 3,444,608 $ 3,490,701 $ 3,480,000 $ Net Investment Income 1,068 - 376
Benefit Payments, Including Refunds of Employee Contributions (3 (3,490,701) ,444,608) (3,480,000) Administrative Expenses (129) (127) -
Net Change in Fiduciary Net Position 939 249 -
Plan Fiduciary Net Position - Beginning 51,249 51,000 51,000 Plan Fiduciary Net Position - Ending (b) 52,188 $ 51,249 $ 51,000 $ Plan Net OPEB Liability/(Asset) - Ending (a) - (b) 43,334,953 $ 32,309,049 $ 33,278,998 $ Plan Fiduciary Net Position as a Percentage of the Total OPEB Liability 0.12% 0.16% 0.15% Covered-Employee Payroll 57,452,344 $ 58,314,156 $ 58,084,647 $ Plan Net OPEB Liability/(Asset) as a Percentage of Covered-Employee Payroll 75.43% 55.41% 57.29% Other Postemployment Benefits (OPEB)
City of Redding
Required Supplementary Information
Schedules of Changes in Net OPEB Liability and Related Ratios For the Year Ended June 30, 2021
161 Packet Pg. 737 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2021
Actuarially Determined Contribution 2 $ 3,646,314
Contribution 2 (3,646,314)
Contribution Deficiency (Excess) $ -
Covered-employee Payroll $ 63,073,360
Contributions as a Percentage of Covered-employee Payroll 5.78% 1 GASB 75 requires this information for plans funding with OPEB trusts be reported in the employer's Required Supplementary Information for 10 years or as many years as are available upon implementation. 2 The June 30, 2017 actuarial valuation provided the Actuarially Determined Contributions for fiscal years 6/30/17, 6/30/18 and 6/30/19.

Notes to Schedules:

Other Postemployment Benefits (OPEB)
The Required Supplementary Information for Schedules of Public Agency Retirement Services Retirement Enhancement Plan Contributions All Tiers is intended to show information for ten years; as additional years' information becomes available it will be displayed accordingly.

City of Redding
Required Supplementary Information
Schedule of Contributions-OPEB
For the Year Ended June 30, 2021
162 Packet Pg. 738 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) 2020 2019 2018 2017
Actuarially Determined Contribution 3,753,880 $ 3,444,608 $ 3,490,701 $ 3,480,000 $ y Contribution (3,444,608) (3,753,880) (3,490,701) (3,480,000) Contribution Deficiency (Excess) - $ - $ - $ - $
Covered-employee Payroll 60,225,532 $ 57,452,344 $ 58,314,156 $ 58,084,647 $ Contributions as a Percentage of Covered-employee Payroll 6.23% 6.00% 5.99% 5.99% Other Postemployment Benefits (OPEB)
City of Redding
Required Supplementary Information
Schedule of Contributions-OPEB
For the Year Ended June 30, 2021
163 Packet Pg. 739 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
164 Packet Pg. 740 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Supplementary
Information
165
Packet Pg. 741 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
166 Packet Pg. 742 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) SPECIAL REVENUE FUNDS:

Special revenue funds are used to account for specific revenues that are legally restricted to expenditure for particular purposes.

Parking Fund
This fund was established to account for the receipts of parking-related revenues and expenditures.

Street Maintenance Fund
This fund was established to account for the construction and maintenance of the street system of the City.

Financing is provided by the State and is restricted to street expenditures.

Community Development Fund
This fund was established to account for financing and rehabilitation of homes and government structures.

Financing is provided by Federal Department of Housing and Urban Development.

Housing Fund
This fund was established to account for subsidies received on behalf of low to moderate income families.

Financing is provided by Federal Department of Housing and Urban Development and a portion of tax increment revenue from redevelopment project area property.

General Special Revenue
This fund was established to account for receipts and disbursements of special revenues required to be segregated from the General Fund revenues.

Landscape Maintenance Districts
This fund was established to account for the activities of landscape maintenance assessment districts. The landscape districts collect assessments to pay for landscape maintenance in the assessment area.

Library Fund
This fund was established to account for the activities of the public library.

Asset Seizure Fund
This fund was established to account for the activities involved with asset seizures.

DEBT SERVICE FUND
The debt service fund is used to account for the payment of interest and principal on general debt of the City. 1915 Act Assessment District Bonds
Established to accumulate monies for payment of 1915 Act Special Assessment bonds when the government is obligated in some manner.

NONMAJOR

GOVERNMENTAL FUNDS
167 Packet Pg. 743 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) General
Street Community Special
Parking Maintenance Development Housing Revenue
ASSETS
Cash and investments 792,879 $ 7,609,254 $ 2,719,829 $ 3,321,124 $ - $ Interest receivable, unrestricted 1,457 13,175 2,137,100 2,211,090 - Accounts receivable, net - - 100 25,054 -
Intergovernmental receivable - 1,292,346 174,931 3,995 - Other receivable - - 18,943 13,418 -
Restricted cash and investments - - - 93,875 -
Prepaid items 269 - 18,838 - -
Special assessments receivable - - - - -
Notes receivable - - 40,882,012 14,717,378 -
Total assets $ 8,914,775 794,605 $ 45,951,753 $ 20,385,934 $ - $

LIABILITIES
Accounts payable 5,504 $ - $ 17,095 $ 3,179 $ - $
Accrued liabilities 2,811 - 26,208 58,740 -
Intergovernmental payable 247 - 3,254 6,518 -
Due to other funds - - - 56,126 -
Accounts payable from
restricted assets - - - 8,827 -
Unearned revenue - - - 1,495,276 -
Deposits - - 8,683 93,875 -
Advances from other funds 420,694 - - - -
Total liabilities - 429,256 55,240 1,722,541 -

DEFERRED INFLOWS OF RESOURCES
Unavailable revenue - - 2,355,126 2,290,008 -
Total deferred inflows of resources: - - 2,355,126 2,290,008 -

FUND BALANCES
Nonspendable 269 - 18,838 - -
Restricted 365,080 8,914,775 43,522,549 16,373,385 -
Total fund balances 8,914,775 365,349 43,541,387 16,373,385 - Total liabilities, deferred inflows of
resources and fund balances $ 8,914,775 794,605 $ 45,951,753 $ 20,385,934 $ - $ (Continued)
Special Revenue
City of Redding
Combining Balance Sheet
Non-Major Governmental Funds
June 30, 2021
168 Packet Pg. 744 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Special Revenue Debt Service
1915 Act Total
Landscape Assessment Non-Major
Maintenance Asset District Governmental
Districts Library Seizure Bonds Funds
ASSETS
Cash and investments 330,358 $ 1,162,540 $ 34,506 $ 310,402 $ 16,280,892 $ Interest receivable, unrestricted 597 1,033 62 559 4,365,073 Accounts receivable, net - - - - 25,154
Intergovernmental receivable 65,481 - - - 1,536,753
Other receivable - - - - 32,361
Restricted cash and investments - - - - 93,875
Prepaid items - - - - 19,107
Special assessments receivable 17,406 - - 299,777 317,183 Notes receivable - - - - 55,599,390
Total assets $ 1,163,573 413,842 $ 34,568 $ 610,738 $ 78,269,788 $

LIABILITIES
Accounts payable 3,350 $ 26,538 $ 865 $ - $ 56,531 $
Accrued liabilities 5,813 9,138 - - 102,710
Intergovernmental payable - 186 2,738 - 12,943
Due to other funds - - - - 56,126
Accounts payable from -
restricted assets - - - - 8,827
Unearned revenue - 87,702 - - 1,582,978
Deposits - - - - 102,558
Advances from other funds - - - - 420,694
Total liabilities 123,564 9,163 3,603 - 2,343,367

DEFERRED INFLOWS OF RESOURCES
Unavailable revenue 72,550 - - 299,777 5,017,461
Total deferred inflows of resources: - 72,550 - 299,777 5,017,461

FUND BALANCES
Nonspendable - - - - 19,107
Restricted 332,129 1,040,009 30,965 310,961 70,889,853
Total fund balances 1,040,009 332,129 30,965 310,961 70,908,960 Total liabilities, deferred inflows of
resources and fund balances $ 1,163,573 413,842 $ 34,568 $ 610,738 $ 78,269,788 $ (Concluded)
City of Redding
Combining Balance Sheet (Continued)
Non-Major Governmental Funds
June 30, 2021
169 Packet Pg. 745 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) General
Street Community Special
Parking Maintenance Development Housing Revenue
REVENUES:

Sales tax revenue - $ - $ - $ - $ 272,517 $
Special assessments - - - - -
Licenses, fees and permits 36,245 - - - -
Intergovernmental revenues - 9,212,132 4,556,223 9,754,406 - Charges for services - - 250,000 - -
Fines, forfeitures and penalties 34,654 - - - -
Net Investment Earnings (Loss) 1,213 30,496 401,197 136,210 - Other revenues - - 7,403,047 61,967 -
Total revenues 9,242,628 72,112 12,610,467 9,952,583 272,517 EXPENDITURES:

Current:

Community development - - 1,168,732 9,960,409 -
Public safety - - - - -
Public works 151,590 - - - -
Recreation and culture - - - - -
Capital outlay - - 92,277 17,000 -
Debt service:

Interest and fiscal charges - - 14,679 - -
Total expenditures - 151,590 1,275,688 9,977,409 -

REVENUE OVER
(UNDER) EXPENDITURE 9,242,628 (79,478) 11,334,779 (24,826) 272,517

OTHER FINANCING
SOURCES (USES):

Sale of Assets - - 5,542 43,342 -
Transfers in - - - - -
Transfers out - (4,635,247) - - (272,517)
Total other financing
sources (uses) (4,635,247) - 5,542 43,342 (272,517)
Net change in fund balances 4,607,381 (79,478) 11,340,321 18,516 - FUND BALANCES:

Beginning of year 444,827 4,307,394 32,201,066 16,354,869 - End of year 365,349 $ 8,914,775 $ 43,541,387 $ 16,373,385 $ - $ (Continued)
Special Revenue
City of Redding
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances Non-Major Governmental Funds
For the Year Ended June 30, 2021
170 Packet Pg. 746 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Special Revenue Debt Service
1915 Act
Landscape Assessment Non-Major
Maintenance Asset District Governmental
Districts Library Seizure Bonds Funds
REVENUES:

Sales tax revenue - $ - $ - $ - $ 272,517 $
Special assessments 693,758 - - - 693,758
Licenses, fees and permits - - - - 36,245
Intergovernmental revenues - 68,739 - - 23,591,500
Charges for services - 1,440,967 - - 1,690,967
Fines, forfeitures and penalties 938 60,423 - - 96,015
Net Investment Earnings (Loss) 1,729 (414) 79 639 571,149 Other revenues - 19,823 12,598 - 7,497,435
Total revenues 1,589,538 696,425 12,677 639 34,449,586
EXPENDITURES:

Current:

Community development - - - - 11,129,141
Public safety - - 16,856 - 16,856
Public works 647,496 - - - 799,086
Recreation and culture - 2,326,868 - - 2,326,868
Capital outlay - - - - 109,277
Debt service:

Interest and fiscal charges - - - - 14,679
Total expenditures 2,326,868 647,496 16,856 - 14,395,907

REVENUE OVER
(UNDER) EXPENDITURE (737,330) 48,929 (4,179) 639 20,053,679

OTHER FINANCING
SOURCES (USES):

Sale of Assets - - - - 48,884
Transfers in - 892,535 - - 892,535
Transfers out - - - - (4,907,764)
Total other financing
sources (uses) 892,535 - - - (3,966,345)
Net change in fund balances 155,205 48,929 (4,179) 639 16,087,334 FUND BALANCES:

Beginning of year 283,200 884,804 35,144 310,322 54,821,626 End of year 332,129 $ 1,040,009 $ 30,965 $ 310,961 $ 70,908,960 $ (Concluded)
City of Redding
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Non-Major Governmental Funds
For the Year Ended June 30, 2021
171 Packet Pg. 747 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Licenses and permits 36,000 $ 36,000 $ 36,245 $ 245 $
Fines, forfeitures and penalties 18,000 18,000 34,654 16,654 Interest revenue 800 800 5,808 5,008
Total revenues 54,800 54,800 76,707 21,907
EXPENDITURES:

Current:

Public works 888,830 888,830 160,291 728,539
Total expenditures 888,830 888,830 160,291 728,539

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES (834,030) (834,030) (83,584) (750,446) OTHER FINANCING SOURCES (USES):

Transfers in 55,560 55,560 - (55,560)
Total other financing sources (uses) 55,560 55,560 - (55,560) Net change in fund balance (778,470) (778,470) (83,584) (694,886) FUND BALANCE:

Beginning of year 444,827 444,827 444,827 -
End of year $ (333,643) (333,643) $ 361,243 $ (694,886) $ $ 365,349
4,595
4,958

3. Encumbrances are not included in the Statement of Revenues, Expenditures and Changes - in Fund Balance. (13,659)
Budgetary Fund Balance $ 361,243
City of Redding
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual Parking Special Revenue Fund
For the Year Ended June 30, 2021
Budgeted Amounts

1. Financial statement only adjustment per GASB #31.

Fund Balance from the Statement of Revenues, Expenditures and Changes in Fund Balances Explanation of differences from the Statement of Revenues, Expenditures and Changes in Fund Balances to Actual Amounts Budgetary Basis:

2. The City does not budget for accounts payable adjustments. 172 Packet Pg. 748 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Intergovernmental revenue $ 6,082,270 $ 9,629,130 $ 9,395,532 $ (233,598) Interest revenues 25,000 25,000 39,175 14,175
Total revenues 6,107,270 9,654,130 9,434,707 (219,423)

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES 9,654,130 6,107,270 9,434,707 (219,423) OTHER FINANCING SOURCES (USES):

Transfers out (6,523,420) (11,499,340) (4,635,247) 6,864,093 Total other financing sources (uses) (11,499,340) (6,523,420) (4,635,247) 6,864,093 Net change in fund balance (1,845,210) (416,150) 4,799,460 6,644,670 FUND BALANCE:

Beginning of year 4,307,394 4,307,394 4,307,394 -
End of year $ 2,462,184 3,891,244 $ 9,106,854 $ 6,644,670 $ $ 8,914,775
8,678

2. The City budgets for grants and taxes on a cash basis 183,401 $ 9,106,854
City of Redding
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual Street Maintenance Special Revenue Fund
For the Year Ended June 30, 2021
Budgetary Fund Balance
Budgeted Amounts

1. Financial statement only adjustment per GASB #31.

Explanation of differences from the Statement of Revenues, Expenditures and Changes in Fund Balances to Actual Amounts Budgetary Basis:

Fund Balance from the Statement of Revenues, Expenditures and Changes in Fund Balances 173 Packet Pg. 749 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Intergovernmental $ 1,084,000 $ 24,769,870 $ 4,623,878 $ (20,145,992) Interest revenue 82,140 341,740 345,896 4,156
Use of money and property 369,000 967,490 971,824 4,334 Other revenues 125,000 2,260,240 2,378,042 117,802
Total revenues 1,660,140 28,339,340 8,319,640 (20,019,700) EXPENDITURES:

Current:

Community development 2,209,300 30,034,350 7,639,573 22,394,777 Total expenditures 2,209,300 30,034,350 7,639,573 22,394,777 Net change in fund balance (1,695,010) (549,160) 680,067 2,375,077 FUND BALANCE:

Beginning of year 32,201,066 32,201,066 32,201,066 -
End of year $ 31,651,906 $ 30,506,056 $ 32,881,133 $ 2,375,077 $ 43,541,387
9,924

2. The City does not budget for accounts payable and accrued liability adjustments. 8,406

3. The City budgets for and records loans made in the expenditure accounts, but adjusts the actual disbursement to loans receivable. (6,421,712)

4. The City budgets for and records loan payments received in the revenue accounts, but adjusts the actual payment to loans receivable. 971,824

5. The City budgets for grants on a cash basis. 67,655

6. The City budgets for interest income on notes receivable, trust fund assets, and rolling stock on a cash basis (65,734)

7. The City does not budget for benefit accrual on a cash basis. 6

8. End of year encumbrances are included in actual expenditures budgetary basis, but are not included in the Statement of Revenues, Expenditures, and Fund Balance. (14,865)

9. The City does not budget for Allowance for uncollectable loans 64,279

10. The City did not budget for the forclosure purchase/rehab/sale - Lakeview 219,089

11. The City deos not budget for unearned revenue. 874

12. The City deos not budget for Contributed Loans. (5,500,000) $ 32,881,133
City of Redding
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual Community Development Special Revenue Fund
For the Year Ended June 30, 2021
Budgetary Fund Balance
Budgeted Amounts

1. Financial statement only adjustment per GASB #31.

Explanation of differences from the Statement of Revenues, Expenditures and Changes in Fund Balances to Actual Amounts Budgetary Basis:

Fund Balance from the Statement of Revenues, Expenditures and Changes in Fund Balances 174 Packet Pg. 750 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Intergovernmental revenue $ 9,148,030 $ 11,233,998 $ 10,457,820 $ (776,178) Use of money and property 114,180 248,920 400,981 152,061 Interest 32,590 57,870 148,999 91,129
Other revenues 26,000 26,000 62,308 36,308
Total revenues 9,320,800 11,566,788 11,070,108 (496,680) EXPENDITURES:

Current:

Community development 10,588,890 12,797,418 11,088,354 1,709,064 Capital Outlay - 50,000 17,000 33,000
Total expenditures 10,588,890 12,847,418 11,105,354 1,742,064

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES (1,280,630) (1,268,090) (35,246) 1,245,384 Other financing sources (uses):

Proceeds from sale of asset - - 239,633 239,633
Total Other financing sources (uses) - - 239,633 239,633 Net change in fund balance (1,280,630) (1,268,090) 204,387 1,485,017 FUND BALANCE:

Beginning of year 16,354,869 16,354,869 16,354,869 -
End of year $ 15,086,779 $ 15,074,239 $ 16,559,256 $ 1,485,017 $ 16,373,385
12,652

2. The City does not budget for accounts payable or intergovernmental payable adjustments. (1,549)

3. The City budgets for and records loans made in the expenditure accounts, but adjusts the actual disbursement to disbursment to loans receivable. (1,100,120)

4. The City budgets for and records loans payments received in the revenue accounts, but adjusts the actual disbursement to loans receivable. 401,322

5. The City budgets for grants on a cash basis. 685

6. End of year encumbrances are included in actual expenditures budgetary basis, but are not included in the Statement of Revenues, Expenditures, and Fund Balance. (14,949)

7. The City does not budget for interest accruals. 136

8. The City did not budget for the forclosure purchase/rehab/sale - La Villa Way 196,291

9. The City does not budget for unearned revenue. 702,729

10. The City deos not budget for refund recievables for Section 8 (11,326) $ 16,559,256
City of Redding
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual Housing Special Revenue Fund
For the Year Ended June 30, 2021
Budgeted Amounts

1. Financial statement only adjustment per GASB #31.

Budgetary Fund Balance
Explanation of differences from the Statement of Revenues, Expenditures and Changes in Fund Balances to Actual Amounts Budgetary Basis:

Fund Balance from the Statement of Revenues, Expenditures and Changes in Fund Balances 175 Packet Pg. 751 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Sales tax $ 272,000 $ 272,000 $ 272,517 $ 517
Total revenues 272,000 272,000 272,517 517

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES 272,000 272,000 272,517 517
OTHER FINANCING SOURCES (USES):

Transfers out (272,000) (272,000) (272,517) (517)
Total other financing sources (uses) (272,000) (272,000) (272,517) (517) Net change in fund balance - - - -
FUND BALANCE:

Beginning of year - - - -
End of year $ - $ - $ - $ -
#REF!
Budgeted Amounts
City of Redding
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual General Special Revenue Fund
For the Year Ended June 30, 2021
176 Packet Pg. 752 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Intergovernmental $ - $ 71,010 $ 70,997 $ (13)
Charges for services 1,406,730 1,434,760 1,440,967 6,207 Fines, forfeitures and penalties 90,700 90,700 60,423 (30,277) Interest revenue 3,000 3,000 1,198 (1,802)
Other revenue 2,400 6,860 19,823 12,963
Total revenues 1,502,830 1,606,330 1,593,408 (12,922)
EXPENDITURES:

Current:

Recreation and culture 2,510,900 2,634,820 2,403,293 231,527 Total expenditures 2,510,900 2,634,820 2,403,293 231,527

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES (1,028,490) (1,008,070) (809,885) (218,605) OTHER FINANCING SOURCES (USES):

Transfers in 868,220 889,930 892,535 2,605
Transfers out (50,000) (50,000) (50,000) -
Total other financing sources (uses) 839,930 818,220 842,535 2,605 Net change in fund balance (189,850) (188,560) 32,650 221,210 FUND BALANCE:

Beginning of year 884,804 884,804 884,804 -
End of year $ 694,954 $ 696,244 $ 917,454 $ 221,210
$ 1,040,009
5,325

2. The City does not budget for accounts payable adjustments. (50,613)

3. The City budgets for grants on a cash basis. 2,258

4. The City does not budget for interest income, sale of property or rental income related to the equipment replacement fund. The City budgets only for the transfers in and out of the equipment replacement fund. (53,713)

5. End of year encumbrances are included in actual expenditures budgetary basis, but are not included in the Statement of Revenues, Expenditures, and Fund Balance. (25,812) $ 917,454
City of Redding
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual Library Special Revenue Fund
For the Year Ended June 30, 2021
Budgetary Fund Balance
Budgeted Amounts

1. Financial statement only adjustment per GASB #31.

Explanation of differences from the Statement of Revenues, Expenditures and Changes in Fund Balances to Actual Amounts Budgetary Basis:

Fund Balance from the Statement of Revenues, Expenditures and Changes in Fund Balances 177 Packet Pg. 753 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Intergovernmental revenue $ - $ 6,640,440 $ 5,452,299 $ (1,188,141) Investment revenue - - 29,823 29,823
Other 1,858,870 3,471,760 10,373,418 6,901,658
Total revenues 1,858,870 10,112,200 15,855,540 5,743,340 EXPENDITURES:

Current:

General government 720,600 720,600 131,046 589,554
Public works 38,675,500 49,035,910 23,240,176 25,795,734 Recreation and culture 18,153,680 22,036,600 9,031,621 13,004,979 Debt Service:

Principal retirement 845,000 260,000 260,000 -
Interest and fiscal charges 68,800 480,790 480,788 2
Total expenditures 58,463,580 72,533,900 33,143,631 39,390,269

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES (56,604,710) (62,421,700) (17,288,091) 45,133,609 OTHER FINANCING SOURCES (USES):

Transfers in 250,000 275,000 250,000 (25,000)
Transfers out (366,740) (1,041,740) (958,677) 83,063
Total other financing sources (uses) (116,740) (766,740) (708,677) 58,063 Net change in fund balance (56,721,450) (63,188,440) (17,996,768) 45,191,672 FUND BALANCE:

Beginning of year 12,344,600 12,344,600 12,344,600 -
End of year $ (44,376,850) $ (50,843,840) $ (5,652,168) $ 45,191,672 $ 7,185,133
46,548
109,928
(14,382,411)
81,002
1,434,519

6. The City did not budget for revenue from the Agency Fund. (126,887)

7. The City did not budget for bond issuance costs. -
$ (5,652,168)
City of Redding
Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual General Capital Projects Fund - Major Fund
For the Year Ended June 30, 2021
not included in the Statement of Revenues, Expenditures, and Changes in Fund Balance.

4. The City does not budget for the transfer of developer fees and interest on those fees to Budgeted Amounts

1. Financial statement only adjustment per GASB #31.

2. The City does not budget for accounts payable adjustments.

3. End of year encumbrances are included in actual expenditures budgetary basis, but are Explanation of differences from the Statement of Revenues, Expenditures and Changes in Fund Balances to Actual Amounts Budgetary Basis:

Fund Balance from the Statement of Revenues, Expenditures and Changes in Fund Balances Budgetary Fund Balance
the related enterprise funds.

5. The City budgets for grants on a cash basis.
178 Packet Pg. 754 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Enterprise funds account for operations that are financed and operated in a manner similar to a private business enterprise. The intent of the governing body is that the cost of providing goods or services be financed primarily through user charges. An enterprise fund is also used when the governing body has decided that periodic determination of revenues earned and expenses incurred and/or net income is appropriate for capital maintenance, public policy, management control, accountability or other purposes.

Airport
This fund was established to account for the operations of the City's airports.

Storm Drainage
This fund was established to account for the operations of the City's storm drainage utility, a self-supporting activity which renders a service on a user-charge basis to residents and businesses.

Redding Area Bus Authority
This fund was established to account for the operations of the Redding Area Bus Authority.

Convention Center
This fund was established to account for the operations of the Convention Center.

NON-MAJOR

ENTERPRISE FUNDS
179 Packet Pg. 755 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Storm Redding
Drainage Area Bus Convention
Airport Utility Authority Center Total
ASSETS
Current assets:

Cash and investments 300 $ 2,638,946 $ 3,382,122 $ 671,568 $ 6,692,936 $ Accounts receivable, net 32,134 63,156 16,538 220,015 331,843 Interest receivable 16 9,958 2,054 4 12,032
Intergovernmental receivable 1,863,400 64,246 579,035 - 2,506,681 Prepaid items 9,247 9,708 - 3,871 22,826
Inventories - 22,369 82,370 - 104,739
Total current assets 1,905,097 2,808,383 4,062,119 895,458 9,671,057 Non-current assets:

Restricted assets:

Cash and investments - 3,219,439 - - 3,219,439
Total restricted assets - 3,219,439 - - 3,219,439
Capital assets:

Land 6,242,894 909,184 2,355,175 188,430 9,695,683
Construction in progress 1,071,846 - 532,720 - 1,604,566 Other capital assets, net 30,209,671 14,678,056 9,104,705 850,953 54,843,385 Capital assets 37,524,411 15,587,240 11,992,600 1,039,383 66,143,634 Total non-current assets 37,524,411 18,806,679 11,992,600 1,039,383 69,363,073 Total assets 21,615,062 39,429,508 16,054,719 1,934,841 79,034,130

DEFERRED OUTFLOWS OF RESOURCES
Deferred loss on refunding 12,110 - - 2,307 14,417
Deferred outflows related to other post
employment benefits 91,521 85,618 - - 177,139
Deferred outflows related to pensions 195,210 241,285 - - 436,495 Total deferred outflows of resources 326,903 298,841 - 2,307 628,051 (Continued)
City of Redding
Combining Statement of Net Position
Nonmajor Enterprise Funds
June 30, 2021
180 Packet Pg. 756 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Storm Redding
Drainage Area Bus Convention
Airport Utility Authority Center Total

LIABILITIES
Current liabilities:

Accounts payable 199,690 $ 8,013 $ 780,007 $ 55,212 $ 1,042,922 $ Accrued liabilities 44,998 42,244 16,578 1,276 105,096
Accrued interest payable 22,031 - - 904 22,935
Intergovernmental payables 196 - 662,274 - 662,470
Due to other funds 1,593,896 - 130,099 - 1,723,995
Interfund payables 25,000 - - 82,892 107,892
Unearned revenue 14,329 - 1,818,889 - 1,833,218
Deposits payable 73,969 - 3,000 - 76,969
Compensated absences, due within one year 16,181 37,606 - - 53,787 Long-term debt, due within one year 45,924 - - 29,124 75,048 State loan, due within one year 83,126 - - - 83,126
Total current liabilities 2,119,340 87,863 3,410,847 169,408 5,787,458 Long-term liabilities:

Compensated absences, due in more than one year 28,975 74,219 - - 103,194 Advances from other funds 1,574,384 - - 1,690,243 3,264,627 Long-term debt, due in more than one year 95,523 - - 60,580 156,103 State loan, due in more than one year 1,128,438 - - - 1,128,438 Aggregate net OPEB liability 230,315 215,462 - - 445,777 Aggregate net pension liability 1,459,435 1,487,007 - - 2,946,442 Total long-term liabilities 4,517,070 1,776,688 - 1,750,823 8,044,581 Total liabilities 1,864,551 6,636,410 3,410,847 1,920,231 13,832,039

DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to other post
employment benefits 13,464 12,596 - - 26,060
Deferred inflows related to pensions 3,919 3,348 - - 7,267 Total deferred inflows of resources 15,944 17,383 - - 33,327

NET POSITION
Net investment in capital assets 36,183,510 15,587,240 11,992,600 611,551 64,374,901 Restricted for capital projects - 3,408,583 - - 3,408,583 Unrestricted (deficit) (3,108,954) 1,065,647 651,272 (594,634) (1,986,669) Total net position $ 20,061,470 33,074,556 $ 12,643,872 $ 16,917 $ 65,796,815 $ (Concluded)
Combining Statement of Net Position (Continued)
Nonmajor Enterprise Funds
June 30, 2021
City of Redding
181 Packet Pg. 757 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
182 Packet Pg. 758 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Storm Redding
Drainage Area Bus Convention
Airport Utility Authority Center Total
OPERATING REVENUES:

User fees and charges 121,657 $ 1,685,267 $ 1,149,382 $ - $ 2,956,306 $ Rental fees 1,538,119 - - 263,432 1,801,551
Other operating revenue 480,044 176 - - 480,220
Total operating revenues 1,685,443 2,139,820 1,149,382 263,432 5,238,077 OPERATING EXPENSES:

Cost of power, water, and transportation - - 3,789,255 - 3,789,255 Maintenance, operations, and administration 2,075,721 1,532,807 2,169,069 766,115 6,543,712 Depreciation and amortization 1,767,988 989,629 1,444,150 75,749 4,277,516 Total operating expenses 2,522,436 3,843,709 7,402,474 841,864 14,610,483 Operating (loss) (836,993) (1,703,889) (6,253,092) (578,432) (9,372,406) NONOPERATING REVENUE (EXPENSES):

Net investment earnings (loss) 36 11,991 (10,193) 822 2,656 Interest expense (56,707) - (2,188) (8,099) (66,994)
Intergovernmental revenues 1,241,484 - 4,371,160 - 5,612,644 Gain (Loss) on disposal of assets 3,500 - 24,343 - 27,843 Other non-operating revenues (expenses) 140,124 1,799 32,428 - 174,351 Total nonoperating revenues (expenses) 13,790 1,328,437 4,415,550 (7,277) 5,750,500 (Loss) before operating
transfers and capital contributions (823,203) (375,452) (1,837,542) (585,709) (3,621,906) Capital contributions 408,631 1,768,407 682,604 - 2,859,642 Transfers in 47,992 694,778 3,000 818,187 1,563,957
Transfers out (225,000) - - - (225,000)
Change in net position 1,639,982 (143,829) (1,151,938) 232,478 576,693 NET POSITION:

Beginning of year 33,218,385 18,421,488 13,795,810 (215,561) 65,220,122 End of year 33,074,556 $ 20,061,470 $ 12,643,872 $ 16,917 $ 65,796,815 $ City of Redding
Statement of Revenues, Expenses, and Changes in Net Position Nonmajor Enterprise Funds
For the Year Ended June 30, 2021
183 Packet Pg. 759 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Storm Redding
Drainage Area Bus Convention
Airport Utility Authority Center Total
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers 2,163,734 $ 1,685,511 $ 1,149,003 $ 43,417 $ 5,041,665 $ Cash paid to suppliers (1,273,990) (554,135) (6,189,019) (810,075) (8,827,219) Cash paid to employees (703,864) (695,645) - (32,039) (1,431,548) Other operating revenue 68,650 176 - - 68,826
Net cash provided (used) by operating activities 435,907 254,530 (5,040,016) (798,697) (5,148,276)

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Intergovernmental revenue received 324,365 - 4,614,708 - 4,939,073 Advances from other funds 1,593,896 - 130,099 - 1,723,995 Repayment of advances from other funds (1,093,296) - (186,347) - (1,279,643) Transfers in - - - 818,187 818,187
Transfers out (225,000) - - - (225,000)
Net cash provided by
noncapital financing activities - 599,965 4,558,460 818,187 5,976,612

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Capital grants received 475 70,742 602,943 - 674,160
Proceeds from sale of assets 3,500 - 27,500 - 31,000
Purchases of capital assets (608,438) (71,600) (658,750) - (1,338,788) Interest paid (51,335) - (2,188) (4,182) (57,705)
Principal paid on long-term debt (270,353) - - (27,565) (297,918) Cash collected for future capital outlay 71,474 1,799 - - 73,273 Net cash provided (used) by
capital and related financing activities 941 (854,677) (30,495) (31,747) (915,978) CASH FLOWS FROM INVESTING ACTIVITIES:

Net investment earnings (loss) 20 22,934 (3,363) 827 20,418 Rents received - - 32,428 - 32,428
Net cash provided by investing activities 22,934 20 29,065 827 52,846 Net increase (decrease) in cash
and cash equivalents 459,782 (162) (482,986) (11,430) (34,796) CASH AND CASH EQUIVALENTS:

Beginning of year 462 5,398,603 3,865,108 682,998 9,947,171 End of year 300 $ 5,858,385 $ 3,382,122 $ 671,568 $ 9,912,375 $ Reconciliation to statement of net position:

Cash and cash equivalents $ 2,638,946 300 $ 3,382,122 $ 671,568 $ 6,692,936 $ Restricted cash and cash equivalents 3,219,439 - - - 3,219,439 $ 5,858,385 300 $ 3,382,122 $ 671,568 $ 9,912,375 $
(Continued)
City of Redding
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
For the Year Ended June 30, 2021
184 Packet Pg. 760 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Storm Redding
Drainage Area Bus Convention
Airport Utility Authority Center Total

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

Operating (loss) (1,703,889) $ (836,993) $ (6,253,092) $ (578,432) $ (9,372,406) $ Adjustments to reconcile operating (loss) to net
cash provided (used) by operating activities:

Other non-operating revenue and expense 68,650 - - - 68,650 Depreciation and amortization 1,767,988 989,629 1,444,150 75,749 4,277,516 Other post employment benefits (45,895) (2,136) - - (48,031) Pension expense 65,207 241,149 - - 306,356
Accounts receivable 22,014 244 (380) (220,015) (198,137) Inventories - 1,175 (2,803) - (1,628)
Prepaid items (485) 1,550 - 309 1,374
Accounts payable 83,925 (8,019) 359,677 (76,366) 359,217 Accrued liabilities 12,748 27,107 (3) 58 39,910
Deposits payable 1,900 - - - 1,900
Intergovernmental payable (1,765) (1,391) (587,565) - (590,721) Unearned revenue (28,174) - - - (28,174)
Accrued compensated absences 12,306 23,592 - - 35,898
Total adjustments 1,272,900 1,958,419 1,213,076 (220,265) 4,224,130 Net cash provided (used) by operating activities $ 435,907 254,530 $ (5,040,016) $ (798,697) $ (5,148,276) $

SCHEDULE OF NONCASH CAPITAL AND
RELATED FINANCING ACTIVITIES:

Plant contributed from developers - $ 1,647,823 $ - $ - $ 1,647,823 $ Transfer of capital assets - 815,362 3,000 - 818,362
Total non-cash capital and
related financing activities $ 2,463,185 - $ 3,000 $ - $ 2,466,185 $ (Concluded)
Combining Statement of Cash Flows (Continued)
Nonmajor Enterprise Funds
For the Year Ended June 30, 2021
City of Redding
185 Packet Pg. 761 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
186 Packet Pg. 762 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021)

INTERNAL SERVICE FUNDS
Internal service funds are used to finance and account for special activities and services performed by a designated department to other departments within the same governmental unit on a cost reimbursement basis.

Equipment Fund
This fund was established to account for all motorized and communications equipment utilization by City departments.

Information Systems Fund
This fund was established to account for the data processing activities utilized by all City departments.

General Support Services Fund
This fund was established to account for general support services utilized by all City departments.

Risk Management Fund
This fund was established to account for the self-insurance activities of the City.

Municipal Utilities Support Fund
This fund was established to provide management and electrical technician support to the Utilities and Street Maintenance.
187 Packet Pg. 763 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Information General Support
Equipment Systems Services
ASSETS
Current assets:

Cash and investments $ 1,724,245 490,633 $ 1,413,122 $
Interest receivable 3,048 849 2,108
Accounts receivable, net - 2,188 66
Prepaid items 177,098 30,364 29,276
Inventories - 299,075 -
Interfund receivable - - -
Total current assets 823,109 1,904,391 1,444,572
Non-current assets:

Capital assets:

Land - - 110,810
Other Capital Assets, net 235,599 4,909,417 119,851
Capital assets, net 235,599 4,909,417 230,661
Other assets:

Advances to other funds - - -
Total other assets - - -
Total non-current assets 235,599 4,909,417 230,661
Total assets 2,139,990 5,732,526 1,675,233

DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to other post employment benefits 309,570 246,862 256,268 Deferred outflows related to pensions 719,296 600,933 643,323 Total deferred outflows of resources 1,028,866 847,795 899,591

LIABILITIES
Current liabilities:

Accounts payable 47,380 6,499 189,780
Intergovernmental payable 565 - 37,460
Accrued liabilities 103,157 109,829 146,561
Claims and judgements payable - - -
Due to other funds - 3,362 -
Intefund payable 67,649 - -
Unearned revenue - 6,518 -
Deposits - - 7
Compensated absences - current 73,965 63,932 95,460
Total current liabilities 224,349 258,507 469,268
Long-term liabilities:

Advances from other funds 101,892 - -
Compensated absences 193,389 151,033 209,086
Claims and judgements - - -
Aggregate net OPEB liability 779,044 621,237 644,909
Aggregate net pension liability 4,840,694 3,895,908 4,272,180 Total long-term liabilities 5,915,019 4,668,178 5,126,175 Total liabilities 6,173,526 4,892,527 5,595,443

DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to other post employment benefits 45,544 36,318 37,702 Deferred inflows related to pensions 11,905 9,246 10,378 Total deferred inflows of resources 57,449 45,564 48,080

NET POSITION
Investment in capital assets 4,909,417 279,348 230,661
Unrestricted (deficit) (3,267,187) (3,341,467) (3,299,360) Total net position $ 1,642,230 $ (3,062,119) $ (3,068,699) (Continued)
City of Redding
Combining Statement of Net Position
All Internal Service Funds
June 30, 2021
188 Packet Pg. 764 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Risk Municipal Utilities
Management Support Total
ASSETS
Current assets:

Cash and investments $ 1,424,515 11,949,691 $ 17,002,206 $ Interest receivable 2,162 19,276 27,443
Accounts receivable, net - 111,501 113,755
Prepaid items 36,567 510,995 784,300
Inventories - - 299,075
Interfund receivable - 107,892 107,892
Total current assets 12,699,355 1,463,244 18,334,671
Non-current assets:

Capital assets:

Land - - 110,810
Other Capital Assets, net 314,272 - 5,579,139
Capital assets, net 314,272 - 5,689,949
Other assets:

Advances to other funds - 3,451,539 3,451,539
Total other assets 3,451,539 - 3,451,539
Total non-current assets 314,272 3,451,539 9,141,488
Total assets 1,777,516 16,150,894 27,476,159

DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to other post employment benefits 407,926 80,854 1,301,480 Deferred outflows related to pensions 1,126,730 242,333 3,332,615 Total deferred outflows of resources 1,534,656 323,187 4,634,095

LIABILITIES
Current liabilities:

Accounts payable 312,149 24,362 580,170
Intergovernmental payable - 600,952 638,977
Accrued liabilities 60,756 174,315 594,618
Claims and judgements payable - 4,063,710 4,063,710
Due to other funds - - 3,362
Interfund payable - - 67,649
Unearned revenue - 4,007 10,525
Deposits - - 7
Compensated absences - current 210,263 15,859 459,479
Total current liabilities 5,057,433 408,940 6,418,497
Long-term liabilities:

Advances from other funds - - 101,892
Compensated absences 384,084 35,175 972,767
Claims and judgements - 12,551,500 12,551,500
Aggregate net OPEB liability 1,026,562 203,472 3,275,224 Aggregate net pension liability 6,942,959 1,465,332 21,417,073 Total long-term liabilities 8,353,605 14,255,479 38,318,456 Total liabilities 8,762,545 19,312,912 44,736,953

DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to other post employment benefits 60,014 11,895 191,473 Deferred inflows related to pensions 15,628 3,229 50,386 Total deferred inflows of resources 75,642 15,124 241,859

NET POSITION
Investment in capital assets - 314,272 5,733,698
Unrestricted (deficit) (2,853,955) (5,840,287) (18,602,256) Total net position $ (2,853,955) $ (5,526,015) $ (12,868,558) (Concluded)
June 30, 2021
All Internal Service Funds
Combining Statement of Net Position (Continued)
City of Redding
189 Packet Pg. 765 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) This page intentionally left blank
190 Packet Pg. 766 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) General Municipal
Information Support Risk Utilities
Equipment Systems Services Management Support Total
OPERATING REVENUES:

User fees and charges 4,002,960 $ 3,160,820 $ 5,734,872 $ 47,350,049 $ 4,508,900 $ 64,757,601 $ Other operating revenue 4,716 - 78 61,241 - 66,035
Total operating revenues 3,160,820 4,007,676 5,734,950 47,411,290 4,508,900 64,823,636 OPERATING EXPENSES:

Maintenance, operations,
and administration 2,791,068 4,357,260 5,957,378 47,401,860 5,088,339 65,595,905 Depreciation and amortization 991,125 74,521 24,293 - 55,929 1,145,868 Total operating expenses 2,865,589 5,348,385 5,981,671 47,401,860 5,144,268 66,741,773 OPERATING INCOME (LOSS) 295,231 (1,340,709) (246,721) 9,430 (635,368) (1,918,137)

NONOPERATING REVENUE
(EXPENSES):

Net investment earnings (loss) (66) 2,815 2,008 14,254 1,422 20,433 Interest expense (712) (914) (813) - (1,201) (3,640)
Intergovernmental revenues 10,192 42,235 - - - 52,427
Gain (loss) on disposal of capital assets (55,629) 178 (435) - - (55,886) Total nonoperating expenses 44,314 (46,215) 760 14,254 221 13,334 Income (loss) before transfers
and contributions 339,545 (1,386,924) (245,961) 23,684 (635,147) (1,904,803) Capital contributions 903,005 - - - - 903,005
Transfers in 287,594 - 42,992 - - 330,586
Transfers out (3,000) - (1,000) (5,000) (1,000) (10,000) Changes in net position 339,545 (199,325) (203,969) 18,684 (636,147) (681,212) NET POSITION:

Beginning of year 1,841,555 (3,401,664) (2,864,730) (2,872,639) (4,889,868) (12,187,346) End of year 1,642,230 $ (3,062,119) $ (3,068,699) $ (2,853,955) $ (5,526,015) $ (12,868,558) $ (3,341,467) (3,267,187) (3,299,360) (2,853,955) (5,840,287) - - - - - -
City of Redding
Combining Statement of Activities and Changes in Net Position All Internal Service Funds
For the Year Ended June 30, 2021
191 Packet Pg. 767 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) General Municipal
Information Support Risk Utilities
Equipment Systems Services Management Support Total

CASH FLOWS FROM
OPERATING ACTIVITIES:

Cash received from other funds 4,007,032 $ 3,160,820 $ 5,738,801 $ 47,358,795 $ 4,508,900 $ 64,774,348 $ Cash paid to suppliers (2,383,775) (551,294) (3,790,096) (46,005,851) (902,306) (53,633,322) Cash paid to employees (1,819,016) (2,446,627) (1,657,814) (1,327,907) (3,381,189) (10,632,553) Net cash provided (used) by
operating activities 162,899 (195,759) 290,891 25,037 225,405 508,473

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Repayment of advances from other funds - (98,729) - - - (98,729) Advances from other funds 3,362 - - - - 3,362
Repayment of advances to other funds - - - 179,528 - 179,528 Advances to other funds - - - (3,862) - (3,862)
Intergovernmental revenue received 10,192 42,235 - - - 52,427 Transfers out (3,000) - (1,000) (5,000) (1,000) (10,000) Net cash provided (used) by
noncapital financing activities (56,494) 10,554 (1,000) 170,666 (1,000) 122,726

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Proceeds from sale of assets 1,730 178 - - - 1,908
Purchase of capital assets - (30,772) - - (80,430) (111,202) Interest Paid (712) (914) (815) - (1,201) (3,642)
Net cash provided (used) by
capital and related financing activities (31,508) 1,018 (815) - (81,631) (112,936)

CASH FLOWS FROM
INVESTING ACTIVITIES:

Investment revenue received 1,404 6,098 3,568 40,498 3,836 55,404 Net cash provided (used) by
investing activities 6,098 1,404 3,568 40,498 3,836 55,404 Net increase (decrease) in cash
and cash equivalents 80,995 (182,783) 292,644 236,201 146,610 573,667 CASH AND CASH EQUIVALENTS:

Beginning of year 673,416 1,643,250 1,120,478 11,713,490 1,277,905 16,428,539 End of year 490,633 $ 1,724,245 $ 1,413,122 $ 11,949,691 $ 1,424,515 $ 17,002,206 $ (Continued)
City of Redding
Combining Statement of Cash Flows
Internal Service Funds
For the Year Ended June 30, 2021
192 Packet Pg. 768 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) General Municipal
Information Support Risk Utilities
Equipment Systems Services Management Support Total

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

Operating income (loss) (1,340,709) $ 295,231 $ (246,721) $ 9,430 $ (635,368) $ (1,918,137) $ Adjustments to reconcile operating
income (loss) to net cash provided
(used) by operating activities:

Depreciation and amortization 991,125 74,521 24,293 - 55,929 1,145,868 Other post employment benefits 6,030 35,249 3,401 (83,192) 105,492 66,980 Pension expense 172,030 (352,292) 377,342 (531,767) 660,023 325,336 (Increase) decrease in
accounts receivable - (644) 3,844 (50,480) - (47,280)
(Increase) decrease in inventories (56,006) - - - - (56,006) (Increase) decrease in prepaid items 4,554 29,349 5,425 (91,547) 4,008 (48,211) Increase (decrease) in
accounts payable (6,186) 19,820 (5,434) 227,419 (4,172) 231,447 Increase (decrease) in
accrued liabilities 24,634 19,180 32,581 11,476 15,625 103,496 Increase (decrease) in claims
and judgements payable - - - (1,458,350) - (1,458,350)
Increase (decrease) in deposits - - 7 - - 7
Increase (decrease) in
intergovernmental payable 565 - 21,801 53,574 - 75,940
Increase (decrease) in
unearned revenue - - - (2,015) - (2,015)
Increase (decrease) in accrued
compensated absences 61,828 (11,139) 74,352 (41,831) 23,868 107,078 Increase (decrease) in claims and
judgements long-term - - - 1,982,320 - 1,982,320
Total adjustments (132,332) 1,144,950 537,612 15,607 860,773 2,426,610 Net cash provided (used)
by operating activities $ 162,899 (195,759) $ 290,891 $ 25,037 $ 225,405 $ 508,473 $ Schedule of noncash capital activities:

Equipment contributed from customer 903,005 $ - $ - $ - $ - $ 903,005 $ Transfer of capital assets 287,594 - - - - 287,594
Total non-cash capital and related
financing activities $ - 1,190,599 $ - $ - $ - $ 1,190,599 $ (Concluded)
Combining Statement of Cash Flows (Continued)
Internal Service Funds
For the Year Ended June 30, 2021
City of Redding
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FIDUCIARY FUNDS - CUSTODIAL FUNDS
The Custodial Funds are used to account for assets held by a government unit as an agent for individuals, governmental entities (other than the City) and non-public organizations.

Special Deposits
This fund was established to account for deposits and collect monies for various community events, which are remitted to the organizers.

IPSS Fund
This fund collects and disburses payments for a joint powers authority (JPA) between the Cities of Redding, Anderson, and Shasta County. The JPA is responsible for integrating public safety records between the entities.

Enterprise Anderson Groundwater Fund
This fund collects and disburses payments for an MOU between the City of Redding, Shasta County, the City of Anderson, ACID, CCCSD, and BVWD. The purposes of the MOU are to comply with the Sustainable Groundwater Management Act of 2014, ensure the continued sustainability of the Anderson and Enterprise Subbasins, and to develop, adopt, implement and manage a groundwater sustainability plan for the sustainable management of groundwater within the Enterprise and Anderson Subbasins of the Redding Area Groundwater Basin while keeping the complexity and costs as low as practicable.
195 Packet Pg. 771 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Enterprise
Special Anderson
Deposits IPSS Groundwater
Fund Fund Fund Total
ASSETS
Cash and cash equivalents 5,553,392 $ 1,747,918 $ 14,017 $ 7,315,327 $ Accounts receivable 24,459 46,645 - 71,104
Intergovernmental receivable - - 201,606 201,606
Interest receivable 7,592 2,903 - 10,495
Capital Assets
Contruction in progress - 1,893,429 - 1,893,429
Other capital assets, net - 108,725 - 108,725
Total assets 3,799,620 5,585,443 215,623 9,600,686

LIABILITIES
Deposits 5,566,316 - - 5,566,316
Accounts payable - 20,190 215,098 235,288
Accrued payroll - 33,342 - 33,342
Total liabilities 53,532 5,566,316 215,098 5,834,946

NET POSITION
Held in trust for other purposes 19,127 3,746,088 525 3,765,740 Total net position $ 3,746,088 19,127 $ 525 $ 3,765,740 $ City of Redding
Combining Statement of Fiduciary Net Position
Fiduciary Funds - Custodial Funds
For the Year Ended June 30, 2021
196 Packet Pg. 772 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) Enterprise
Special Anderson
Deposits IPSS Groundwater
Fund Fund Fund Total
ADDITIONS:

Intergovernmental - fees - $ 840,833 $ - $ 840,833 $
Intergovernmental - grants - - 353,408 353,408
User fees - 93,346 - 93,346
Investment income (loss) 79 3,319 17 3,415
Total Additions 937,498 79 353,425 1,291,002
DEDUCTIONS:

Administration - 832,160 - 832,160
Software maintenance and support - 75,256 - 75,256
Project payments - 20,190 352,900 373,090
Depreciation - 59,142 - 59,142
Investment costs 132 - - 132
Total Deductions 986,748 132 352,900 1,339,780 $
Changes in net position (53) (49,250) 525 (48,778)

NET POSITION
Beginning of year 19,180 3,795,338 - 3,814,518
End of year $ 3,746,088 19,127 $ 525 $ 3,765,740 $
City of Redding
Combining Statement Changes in Fiduciary Net Position
Fiduciary Funds - Custodial Funds
For the Year Ended June 30, 2021
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Information
199
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OTHER SUPPLEMENTARY

INFORMATION
Other Supplementary Inforamtion is provided in the Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards and Compliance
Other Supplementary Information is provided for the City of Redding Municipal Airport Passenger Facility Charges activity for the fiscal year. Passenger Facility Charge is a fee charged on commercial airline tickets for every enplaned passenger. Commercial airports use these fees to fund FAA-approved projects that enhance safety, security, or capacity; reduce noise; or increase air carrier competition.

Below is the current approved application of projects funded by Passenger Facility Charges:

Application 17-05-C-00-RDD
001-Aircraft Rescue and Fire Fighting Vehicle Acquisition 002-Airport Master Plan Update
003-ADA Passenger Loading Ramp
004-Airport Pavement Management System Study
005-T-Hangar Taxilane Reconstruction
006-West Tie Down Apron Reconstruction
007-Aircraft Rescue and Fire Fighting Station Modifications 009-Environmental Assessment Parallel Runway
013-PFC Application/Administration Costs
201 Packet Pg. 777 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) INDEPENDENT AUDITORS’ REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND

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

PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS To the Honorable Mayor and Members of the City Council
of the City of Redding
Redding, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Redding, California (the “City”), as of and for the year ended June 30, 2021, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements, and have issued our report thereon dated December 21, 2021.

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

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

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

Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. 2121 North California Blvd., Suite 290,Walnut Creek, California 94596 Tel: 925-974-3394 • Fax: 949-777-8850
www.pungroup.cpa
202
Packet Pg. 778 Attachment: ACFR Final - FYE June 30, 2021 (available online) (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2021) To the Honorable Mayor and Members of the City Council
of the City of Redding
Redding, California

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