Agenda Packet — Redding City Council, January 16, 2024 (part 2 of 2)

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-S-R 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, 2022, the City’s unrecognized share of member’s deficit of the M-S-R Energy Authority was $118,408,933.

The long-term debt of the M-S-R Energy Authority totaled $868,935,000 at December 31, 2022. The M-S-R Energy Authority did not make any principal payments in 2022.

Summarized financial information of M-S-R Energy Authority as of and for the year ended December 31, 2022, is as follows (in thousands):

Total assets and deferred outflows 888,204 $
Total liabilities and deferred inflows 888,204 $
Total net position - $
Total liabilities and net position 888,204 $
Net increase (decrease) in net position - $
Packet Pg. 400 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
105
Note 15 – Joint Ventures (Continued)
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 $7,584,638 member’s equity balance at June 30, 2023. 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.

From Pacific Gas and Electric Company (PG&E), TANC also receives 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, 2023.

The debt of the Transmission Agency of Northern California is comprised entirely of revenue bonds totaling $165,500,000. 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 $ 7,584,638
Summarized financial information of TANC as of and for the year ended June 30, 2023, is as follows (in thousands):

Total assets and deferred outflows 397,395 $
Total liabilities and deferred inflows 303,093
Total net position 94,302
Total liabilities and net position $ 397,395
Net increase (decrease) in net position 15,230 $
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).

Packet Pg. 401 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
106
Note 15 – Joint Ventures (Continued)
D. Balancing Authority of Northern California (Continued) 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 69.2%, 16.9%,

7.7%, 4.9%, 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, 2022, is as follows (in thousands):

Total current assets 15,027,964 $
Total current liabilities 15,027,964
Total net position -
Total liabilities and net position 15,027,964 $
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.

E. Modesto Irrigation District Financing Authority
The Modesto Irrigation District Financing Authority (MIDFA) is a joint powers agency consisting of the Modesto Irrigation District (District) and the City of Redding (City) formed July 1, 1989, pursuant to Article 4 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Marks-Roos Local Bond Pooling Act of 1985”). Which authorizes and empowers the Authority to enter into contracts to assist the District and the City in financing public capital improvements, working capital, liability, and other insurance needs, or projects whenever there are significant public benefits, as determined by the City or the District.

The agreement states “any obligations incurred or any bonds issued by the Authority shall not constitute general obligations of the Authority” and “In the event either the City or the District separately contract for specific debts, liabilities or obligations, the member of this Authority not party to such contact shall not be liable or responsible for such debts, liabilities or obligations of the Authority.

The City has no debts, liabilities or obligations issued through the Authority.

On March 21, 2023 City Council adopted resolution 2023-025 which extended the agreement from August 2, 2019 to August 1, 2040.

Packet Pg. 402 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
107
Note 15 – Joint Ventures (Continued)
F. 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 - $ 15.000% - $
TANC (2)
Bonds (2016A) 165,500,000 8.3912% 13,887,436
TANC subtotal 165,500,000 13,887,436
Total 165,500,000 $ 13,887,436 $
(1) As of December 31, 2022
(2) As of June 30, 2023
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 16 – 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 $2,764,837 as of June 30, 2023, 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, 2023. 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, 2023, were as follows:

Balance Balance Due within Due in More
July 1, 2022 Additions Deletions June 30, 2023 One Year Than One Year Postclosure care liability 2,583,960 $ 356,827 $ 175,950 $ 2,764,837 $ 183,640 $ 2,581,197 $ Packet Pg. 403 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
108
Note 17 – 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 2022-23, RABA did not receive or accrue any additional PTMISEA funding. During the fiscal year RABA incurred $473,597 in qualifying expenditures and earned $16,773 in interest income. The June 30, 2023 ending balance in unspent PTMISEA funding was $521,889 and is included in the Unearned Revenue balance.

Packet Pg. 404 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
109
Note 18 – Retirement Plans
A. Summary
Aggregate Net Pension Liability
Aggregate Net pension liability is reported in the accompanying Statements of Net Position as follows:

Aggregate Net Pension Liability
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) 48,961,460 $ 140,278,178 $ 6,685,111 $ 195,924,749 $ Internal Service Funds:

Equipment 4,071,283 - 430,204 4,501,487
Information Systems 5,012,082 - 357,167 5,369,249
General Support Services 5,631,014 - 607,180 6,238,194
Risk Management 1,281,773 - 99,139 1,380,912
Municipal Utilities Support 6,429,270 - 1,116,949 7,546,219 Total Internal Service Funds 22,425,422 - 2,610,639 25,036,061 Total Governmental Activities 71,386,882 140,278,178 9,295,750 220,960,810 Enterprise funds:

Electric Utility 71,342,326 - 79,828,632 8,486,306
Water Utility 7,113,454 - 8,496,680 1,383,226
Wastewater Utility 9,491,847 - 11,047,002 1,555,155
Solid Waste Utility 16,107,138 - 18,148,976 2,041,838
Airport 1,910,136 - 1,911,333 1,197
Storm Drainage Utility 1,174,730 - 1,351,504 176,774
Total Enterprise funds 107,139,631 - 13,644,496 120,784,127 Total $ 140,278,178 178,526,513 $ 22,940,246 $ 341,744,937 $ Packet Pg. 405 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
110
Note 18 – Retirement Plans (Continued)
A. Summary (Continued)
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) 5,054,140 $ 13,986,466 $ 2,862,756 $ 21,903,362 $ Internal Service Funds:

Equipment 420,266 - 184,226 604,492
Information Systems 517,382 - 152,949 670,331
General Support Services 581,273 - 260,011 841,284
Risk Management 132,314 - 42,454 174,768
Municipal Utilities Support 663,674 - 478,309 1,141,983 Total Internal Service Funds 2,314,909 - 1,117,949 3,432,858 Total Governmental Activities 7,369,049 13,986,466 3,980,705 25,336,220 Enterprise funds:

Electric Utility 7,364,449 - 3,634,079 10,998,528
Water Utility 734,300 - 592,337 1,326,637
Wastewater Utility 979,814 - 665,962 1,645,776
Solid Waste Utility 1,662,691 - 874,373 2,537,064
Airport 197,177 - 513 197,690
Storm Drainage Utility 121,264 - 75,700 196,964
Total Enterprise funds 11,059,695 - 5,842,964 16,902,659 Total $ 13,986,466 18,428,744 $ 9,823,669 $ 42,238,879 $ Packet Pg. 406 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
111
Note 18 – Retirement Plans (Continued)
A. Summary (Continued)
Deferred Outflows of Resources (Continued)
Difference between Projected and Actual Earnings of Pension Plan Investments Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) 4,669,955 $ 11,578,925 $ 1,834,335 $ 18,083,215 $ Internal Service Funds:

Equipment 388,320 - 118,044 506,364
Information Systems 478,054 - 98,003 576,057
General Support Services 537,088 - 166,605 703,693
Risk Management 122,256 - 27,203 149,459
Municipal Utilities Support 613,225 - 306,481 919,706
Total Internal Service Funds 2,138,943 - 716,336 2,855,279 Total Governmental Activities 6,808,898 11,578,925 2,550,671 20,938,494 Enterprise funds:

Electric Utility 6,804,648 - 2,328,566 9,133,214
Water Utility 678,483 - 379,545 1,058,028
Wastewater Utility 905,335 - 426,720 1,332,055
Solid Waste Utility 1,536,302 - 560,262 2,096,564
Airport 182,189 - 328 182,517
Storm Drainage Utility 112,046 - 48,505 160,551
Total Enterprise funds 10,219,003 - 3,743,926 13,962,929 Total $ 11,578,925 17,027,901 $ 6,294,597 $ 34,901,423 $ Changes of Assumptions
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) 2,921,933 $ 10,230,839 $ - $ 13,152,772 $ Internal Service Funds:

Equipment 242,967 - - 242,967
Information Systems 299,112 - - 299,112
General Support Services 336,049 - - 336,049
Risk Management 76,494 - - 76,494
Municipal Utilities Support 383,687 - - 383,687
Total Internal Service Funds 1,338,309 - - 1,338,309
Total Governmental Activities 4,260,242 10,230,839 - 14,491,081 Enterprise funds:

Electric Utility 4,257,582 - - 4,257,582
Water Utility 424,518 - - 424,518
Wastewater Utility 566,456 - - 566,456
Solid Waste Utility 961,245 - - 961,245
Airport 113,993 - - 113,993
Storm Drainage Utility 70,106 - - 70,106
Total Enterprise funds 6,393,900 - - 6,393,900
Total $ 10,230,839 10,654,142 $ - $ 20,884,981 $
Packet Pg. 407 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
112
Note 18 – 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) 930,997 $ 53,238 $ 404,545 $ 1,388,780 $ Internal Service Funds:

Equipment 77,415 - 26,031 103,446
Information Systems 95,304 - 21,614 116,918
General Support Services 107,073 - 36,746 143,819
Risk Management 24,373 - 6,000 30,373
Municipal Utilities Support 122,252 - 67,593 189,845
Total Internal Service Funds 426,417 - 157,984 584,401
Total Governmental Activities 1,357,414 53,238 562,529 1,973,181 Enterprise funds:

Electric Utility 1,356,567 - 513,542 1,870,109
Water Utility 135,262 - 83,704 218,966
Wastewater Utility 180,486 - 94,110 274,596
Solid Waste Utility 306,276 - 123,559 429,835
Airport 36,321 - 73 36,394
Storm Drainage Utility 22,337 - 10,697 33,034
Total Enterprise funds 2,037,249 - 825,685 2,862,934
Total $ 53,238 3,394,663 $ 1,388,214 $ 4,836,115 $
Total Deferred Outflows
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) 13,577,025 $ 35,849,468 $ 5,101,636 $ 54,528,129 $ Internal Service Funds:

Equipment 1,128,968 - 328,301 1,457,269
Information Systems 1,389,852 - 272,566 1,662,418
General Support Services 1,561,483 - 463,362 2,024,845
Risk Management 355,437 - 75,657 431,094
Municipal Utilities Support 1,782,838 - 852,383 2,635,221 Total Internal Service Funds 6,218,578 - 1,992,269 8,210,847 Total Governmental Activities 19,795,603 35,849,468 7,093,905 62,738,976 Enterprise funds:

Electric Utility 19,783,246 - 6,476,187 26,259,433
Water Utility 1,972,563 - 1,055,586 3,028,149
Wastewater Utility 2,632,091 - 1,186,792 3,818,883
Solid Waste Utility 4,466,514 - 1,558,194 6,024,708
Airport 529,680 - 914 530,594
Storm Drainage Utility 325,753 - 134,902 460,655
Total Enterprise funds 29,709,847 - 10,412,575 40,122,422 Total $ 35,849,468 49,505,450 $ 17,506,480 $ 102,861,398 $ Packet Pg. 408 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
113
Note 18 – 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) - $ - $ 264,251 $ 264,251 $ Internal Service Funds:

Equipment - - 17,005 17,005
Information Systems - - 14,118 14,118
General Support Services - - 24,001 24,001
Risk Management - - 3,918 3,918
Municipal Utilities Support - - 44,151 44,151
Total Internal Service Funds - - 103,193 103,193
Total Governmental Activities - - 367,444 367,444
Enterprise funds:

Electric Utility - - 335,450 335,450
Water Utility - - 54,678 54,678
Wastewater Utility - - 61,472 61,472
Solid Waste Utility - - 80,712 80,712
Airport - - 47 47
Storm Drainage Utility - - 6,988 6,988
Total Enterprise funds - - 539,347 539,347
Total $ - - $ 906,791 $ 906,791 $
Packet Pg. 409 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
114
Note 18 – Retirement Plans (Continued)
A. Summary (Continued)
Deferred Inflows of Resources
Differences between Expected and Actual Experience
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) - $ 2,309,372 $ - $ 2,309,372 $ Internal Service Funds:

Equipment - - - -
Information Systems - - - -
General Support Services - - - -
Risk Management - - - -
Municipal Utilities Support - - - -
Total Internal Service Funds - - - -
Total Governmental Activities - 2,309,372 - 2,309,372
Enterprise funds:

Electric Utility - - - -
Water Utility - - - -
Wastewater Utility - - - -
Solid Waste Utility - - - -
Airport - - - -
Storm Drainage Utility - - - -
Total Enterprise funds - - - -
Total $ 2,309,372 - $ - $ 2,309,372 $
Total Pension-related Deferred Inflows
Miscellaneous Safety PARS
Plan Plan Plan Total
Governmental Activities
(minus Internal Service Funds) - $ 2,309,372 $ 264,251 $ 2,573,623 $ Internal Service Funds:

Electric Utility - - 335,450 335,450
Water Utility - - 54,678 54,678
Wastewater Utility - - 61,472 61,472
Solid Waste Utility - - 80,712 80,712
Airport - - 47 47
Storm Drainage Utility - - 6,988 6,988
Total Enterprise funds - - 539,347 539,347
Total $ 2,309,372 - $ 906,791 $ 3,216,163 $
Packet Pg. 410 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
115
Note 18 – Retirement Plans (Continued)
A. Summary (Continued)
Pension Expense
The total pension expense related to all retirement plans is $39,919,944. This is comprised of three parts CalPERS Miscellaneous Plan, CalPERS Safety Plan, and the PARS plan. The CalPERS Miscellaneous Plan pension expense was $21,581,042, the CalPERS Safety Plan pension expense was $14,935,674, and the PARS plan was $3,403,228.

Responsible Governmental Funds
The governmental funds responsible for liquidating pension liabilities include; General Fund, Community Development and Parking.

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.

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.

Packet Pg. 411 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
116
Note 18 – Retirement Plans (Continued)
B. CalPERS (Continued)
The Plans’ provisions and benefits in effect at June 30, 2023, 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 9.96% 9.96%
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% 14.50%
Required employer contribution rates 21.554% 21.554% 23.89% Safety
a. Net Pension Liability
Employees Covered by Benefit Terms
At June 30, 2021 (actuarial valuation date), the following employees were covered by the benefit terms for each Plan:

Miscellaneous Safety
Inactive employees or beneficiaries currently receiving benefits 897 315 Inactive employees entitled to but not yet receiving benefits 33 74 1 Active employees 628 193
Total 1,856 582
Packet Pg. 412 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
117
Note 18 – Retirement Plans (Continued)
B. CalPERS (Continued)
a. Net Pension Liability (Continued)
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, 2022, using an annual actuarial valuation as of June 30, 2021 rolled forward to June 30, 2022 using standard update procedures. A 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, 2021 actuarial valuations were determined using the following actuarial assumptions:

Miscellaneous Safety
Valuation Date June 30, 2021 June 30, 2021
Measurement Date June 30, 2022 June 30, 2022
Actuarial Cost Method
Actuarial Assumptions:

Discount Rate 6.90% 6.90%
Inflation 2.50% 2.50%
Payroll Growth 2.75% 2.75%
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

7.00% Net of Pension Plan Investment Expense,
Packet Pg. 413 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
118
Note 18 – Retirement Plans (Continued)
B. CalPERS (Continued)
a. Net Pension Liability (Continued)
All other actuarial assumptions used in the June 30, 2021 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.

Discount Rate
The discount rate used to measure the total pension liability was 6.90 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 6.90 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 6.90 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 November 17, 2021.

Packet Pg. 414 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
119
Note 18 – Retirement Plans (Continued)
B. CalPERS (Continued)
a. Net Pension Liability (Continued)
Asset Class1
Current Target
Allocation Real Return 1,2
Global Equity - Cap-weighted 30.0% 4.54%
Global Equity - Non-Cap-weighted 12.0% 3.84%
Private Equity 13.0% 7.28%
Treasury 5.0% 0.27%
Mortgage-backed Securities 5.0% 0.50%
Investment Grade Corporates 10.0% 1.56%
High Yield 5.0% 2.27%
Emerging Market Debt 5.0% 2.48%
Private Debt 5.0% 3.57%
Real Assets 15.0% 3.21%
Leverage -5.0% -0.59%
2 Figures are based on the 2021 Asset Liability Management study. 1 An expected inflation of 2.0% used for this period
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, 2021 (Measurement date) $ 380,650,700 490,081,208 $ 109,430,508 $ Changes in the year:

Service costs 8,538,665 - 8,538,665
Interest on the total pension liability 34,337,125 - 34,337,125 Changes of benefit terms - - -
Differences between actual and expected experience 3,379,785 - 3,379,785 Change in assumptions 14,600,120 - 14,600,120
Plan to plan resource movement - - -
Contributions - employer - 16,761,832 (16,761,832)
Contribution - employee - 3,941,926 (3,941,926)
Net investment income - (28,706,945) 28,706,945
Benefit payments, including refunds of employee
contributions (29,381,884) (29,381,884) -
Administrative expense - (237,123) 237,123
Other miscellaneous income/(expense) - - -
Net changes (37,622,194) 31,473,811 69,096,005
Balance at June 30, 2022 (Measurement date) 521,555,019 $ 343,028,506 $ 178,526,513 $ Packet Pg. 415 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
120
Note 18 – 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, 2021 (Measurement date) $ 253,112,693 347,776,447 $ 94,663,754 $ Changes in the year:

Service costs 6,602,064 - 6,602,064
Interest on the total pension liability 24,351,275 - 24,351,275 Changes of benefit terms - - -
Differences between actual and expected experience (1,991,350) - (1,991,350) Change in assumptions 13,153,936 - 13,153,936
Plan to plan resource movement - - -
Contributions - employer - 12,961,721 (12,961,721)
Contribution - employee - 2,979,070 (2,979,070)
Net investment income - (19,281,616) 19,281,616
Benefit payments, including refunds of employee
contributions (18,646,091) (18,646,091) -
Administrative expense - (157,674) 157,674
Other miscellaneous income/(expense) - - -
Net changes (22,144,590) 23,469,834 45,614,424
Balance at June 30, 2022 (Measurement date) 371,246,281 $ 230,968,103 $ 140,278,178 $ Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the Plan as of the measurement date, calculated using the discount rate of 6.90 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 (5.90 percent) or 1 percentage-point higher (7.90 percent) than the current rate:

Miscellaneous Safety
1% Decrease 5.90% 5.90%
Net pension liability 243,070,557 $ 191,512,149 $
Current discount rate 6.90% 6.90%
Net pension liability 178,526,513 $ 140,278,178 $
1% Increase 7.90% 7.90%
Net pension liability 124,773,387 $ 98,395,206 $

Packet Pg. 416 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
121
Note 18 – 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, 2023, the City recognized pension expense of $36,516,716, which is comprised of $21,581,042 of pension expense related to the CalPERS Miscellaneous plan and $14,935,674 of pension expense related to the CalPERS Safety plan. At June 30, 2023, 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 18,428,744 $ - $ Changes of Assumptions 10,654,142 -
Difference between expected and actual experience 3,394,663 - Net difference between projected and actual earnings
on pension plan investments 17,027,901 -
Total 49,505,450 $ - $
Safety Plan:

Deferred Outflows
of Resources
Deferred Inflows of
Resources
Pension contributions made after measurement date 13,986,466 $ - $ Changes of Assumptions 10,230,839 -
Difference between expected and actual experience 53,238 (2,309,372) Net difference between projected and actual earnings
on pension plan investments 11,578,925 -
Total 35,849,468 $ (2,309,372) $
Packet Pg. 417 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
122
Note 18 – 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 2021-22 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 2021-22 measurement is 3.7 and 4.5 years, which was obtained by dividing the total service years of 6,884 and 2,609 (the sum of remaining service lifetimes of the active employees) by 1,856 and 582 (the total number of participants: active, inactive and retired), respectively.

The $18,428,744 and $13,986,466 reported as deferred outflows of resources related to pension resulting from the City’s contributions subsequent to the measurement date during the fiscal year ended June 30, 2023 will be recognized as a reduction of the net pension liability in the year ended June 30, 2024. 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
2023 8,203,735 $ 4,035,956 $
2024 7,472,613 3,808,674
2025 4,478,636 3,142,649
2026 10,921,722 8,566,351
2027 - -
Thereafter - -
Total 31,076,706 $ 19,553,630 $
d. Payable to the Pension Plan
At June 30, 2023, The City reported a payable of $ -0- for the outstanding amount of contributions to the pension plan required for the year ended June 30, 2023.

Packet Pg. 418 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
123
Note 18 – 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 2.70% 2.26% 1.71% 2.08% 2.08% 2.62%
Required employer
contribution rates 54.24% 45.38% 46.73% 41.64% 36.19% 46.58% Packet Pg. 419 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
124
Note 18 – 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 110 222 10 103 50 14 509
Inactive employees entitled to
but not yet receiving benefits 5 4 - 3 1 1 14
Active employees 38 79 2 48 22 8 197
Total 153 305 12 154 73 23 720
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, 2022 actuarial valuation were determined using the following actuarial assumptions:

Valuation Date June 30, 2022
Measurement Date June 30, 2022
Actuarial Cost Method Entry-Age Normal
Actuarial Assumptions:

Discount Rate 7.00%
Inflation 2.30%
Projected Salary Increase Graded rates based on years of services, 3.4% 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, 2021
Packet Pg. 420 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
125
Note 18 – 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, 2023.

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 4.34% 0.51% 0.49%
US Core Fixed Income Barclays Aggregate 38.36% 2.07% 1.93% US Equity Market Russell 3000 46.23% 5.56% 3.90%
Foreign Developed Equity MSCI EAFE NR 6.51% 6.89% 5.07% Emerging Markets Equity MSCI EM NR 2.28% 9.58% 6.18%
US REITs FTSE NAREIT Equity REIT 2.28% 6.96% 4.74%
Assumed inflation - mean 2.32% 2.32%

1.42% 1.42%
Portfolio real mean return 4.21% 3.62%
Portfolio nominal mean return 6.53% 6.04%
Portfolio standard deviation 10.40%

7.00%
Assumed inflation - standard deviation
Long-term expected rate of return
Packet Pg. 421 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
126
Note 18 – 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 July 1, 2021 (Measurement date) $ 75,788,152 90,597,758 $ 14,809,606 $ Changes in the year:

Service costs 960,178 - 960,178
Interest on the total pension liability 6,218,106 - 6,218,106 Changes of benefit terms - - -
Effect of economic/demographic gains or losses 2,650,226 - 2,650,226 Differences between actual and expected experience - - - Change in assumptions (1,731,147) - (1,731,147)
Contributions - employer - 9,061,771 (9,061,771)
Contribution - employer (paid by member) - 393,779 (393,779) Net investment income - (9,274,876) 9,274,876
Administrative expenses - (213,951) 213,951
Benefit payments, including refunds of employee
contributions
Net changes (5,582,812) 2,547,828 8,130,640
Balance at June 30, 2022 (Measurement date) 93,145,586 $ 70,205,340 $ 22,940,246 $ (5,549,535) (5,549,535) -
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 103,291,524 $ 93,145,586 $ 84,588,399 $ Fiduciary net position 70,205,340 70,205,340 70,205,340 Net pension liability 33,086,184 22,940,246 14,383,059
Packet Pg. 422 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
127
Note 18 – 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, 2023, the City recognized pension expense of $3,403,228. At June 30, 2023, 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 9,823,669 $ - $ Changes of Assumptions - (906,791)
Difference between expected and actual experience 1,388,214 - Net difference between projected and actual earnings on pension plan investments 6,294,597 -
Total 17,506,480 $ (906,791) $
The amounts above are net of outflow and inflows recognized in the 2021-22 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 2021-22 measurement is 2.1 years, which was obtained by dividing the total service years of 1,523 (the sum of remaining service lifetimes of the active employees) by 720 (the total number of participants: active, inactive and retired).

Packet Pg. 423 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
128
Note 18 – Retirement Plans (Continued)
C. PARS (Continued)
d. Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions (Continued) The $9,823,669 reported as deferred outflows of resources related to pension resulting from the City’s contributions subsequent to the measurement date during the fiscal year ended June 30, 2023 will be recognized as a reduction of the net pension liability in the year ended June 30, 2024. 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
2023 1,701,317 $
2024 1,251,556
2025 881,732
2026 2,941,415
Thereafter -
Total 6,776,020 $
e. Payable to the Pension Plan
At June 30, 2023, The City reported a payable of $ -0- for the outstanding amount of contributions to the pension plan required for the year ended June 30, 2023.

Packet Pg. 424 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
129
Note 19 – 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, 2023:

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) 25,813,919 $
Internal Service Funds:

Equipment 878,354
Information Systems 987,509
General Support Services 1,248,062
Risk Management 321,476
Municipal Utilities Support 1,304,184
Total Internal Service Funds 4,739,585
Total Governmental Activities 30,553,504
Enterprise funds:

Electric Utility 13,459,484
Water Utility 1,481,070
Wastewater Utility 2,034,295
Solid Waste Utility 3,331,097
Airport 487,665
Storm Drainage Utility 217,777
Total Enterprise funds 21,011,388
Total $ 51,564,892
OPEB

Packet Pg. 425 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
130
Note 19 – 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) 1,512,664 $
Internal Service Funds:

Equipment 51,470
Information Systems 57,867
General Support Services 73,136
Risk Management 18,839
Municipal Utilities Support 76,423
Total Internal Service Funds 277,735
Total Governmental Activities 1,790,399
Enterprise funds:

Electric Utility 788,709
Water Utility 86,789
Wastewater Utility 119,206
Solid Waste Utility 195,198
Airport 28,576
Storm Drainage Utility 12,760
Total Enterprise funds 1,231,238
Total $ 3,021,637
OPEB
Difference between Projected and Actual Earnings on Pension Plan Investments Governmental Activities
(minus Internal Service Funds) 1,458 $
Internal Service Funds:

Equipment 49
Information Systems 56
General Support Services 70
Risk Management 18
Municipal Utilities Support 74
Total Internal Service Funds 267
Total Governmental Activities 1,725
Enterprise funds:

Electric Utility 760
Water Utility 84
Wastewater Utility 115
Solid Waste Utility 188
Airport 28
Storm Drainage Utility 12
Total Enterprise funds 1,187
Total $ 2,912
OPEB
Packet Pg. 426 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
131
Note 19 – Other Postemployment Healthcare Benefits (Continued) Deferred Outflows of Resources (Continued)
Changes of Assumptions
Governmental Activities
(minus Internal Service Funds) 3,385,793 $
Internal Service Funds:

Equipment 115,206
Information Systems 129,523
General Support Services 163,698
Risk Management 42,165
Municipal Utilities Support 171,059
Total Internal Service Funds 621,651
Total Governmental Activities 4,007,444
Enterprise funds:

Electric Utility 1,765,366
Water Utility 194,259
Wastewater Utility 266,821
Solid Waste Utility 436,912
Airport 63,963
Storm Drainage Utility 28,564
Total Enterprise funds 2,755,885
Total $ 6,763,329
OPEB
Packet Pg. 427 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
132
Note 19 – Other Postemployment Healthcare Benefits (Continued) Deferred Outflows of Resources (Continued)
Differences between Expected and Actual Experience
Governmental Activities
(minus Internal Service Funds) 5,646,434 $
Internal Service Funds:

Equipment 192,127
Information Systems 216,004
General Support Services 272,995
Risk Management 70,318
Municipal Utilities Support 285,272
Total Internal Service Funds 1,036,716
Total Governmental Activities 6,683,150
Enterprise funds:

Electric Utility 2,944,074
Water Utility 323,963
Wastewater Utility 444,974
Solid Waste Utility 728,631
Airport 106,670
Storm Drainage Utility 47,636
Total Enterprise funds 4,595,948
Total $ 11,279,098
OPEB
Total Deferred Outflows
Governmental Activities
(minus Internal Service Funds) 10,546,350 $
Internal Service Funds:

Equipment 358,852
Information Systems 403,450
General Support Services 509,898
Risk Management 131,340
Municipal Utilities Support 532,828
Total Internal Service Funds 1,936,368
Total Governmental Activities 12,482,718
Enterprise funds:

Electric Utility 5,498,909
Water Utility 605,095
Wastewater Utility 831,116
Solid Waste Utility 1,360,929
Airport 199,237
Storm Drainage Utility 88,972
Total Enterprise funds 8,584,258
Total $ 21,066,976
OPEB
Packet Pg. 428 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
133
Note 19 – 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) 2,294,115 $
Internal Service Funds:

Equipment 78,060
Information Systems 87,761
General Support Services 110,916
Risk Management 28,570
Municipal Utilities Support 115,904
Total Internal Service Funds 421,211
Total Governmental Activities 2,715,326
Enterprise funds:

Electric Utility 1,196,159
Water Utility 131,624
Wastewater Utility 180,790
Solid Waste Utility 296,038
Airport 43,338
Storm Drainage Utility 19,354
Total Enterprise funds 1,867,303
Total $ 4,582,629
OPEB
Total Deferred Inflows
Governmental Activities
(minus Internal Service Funds) 2,294,115 $
Internal Service Funds:

Packet Pg. 429 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
134
Note 19 – Other Postemployment Healthcare Benefits (Continued) Responsible Governmental Funds
The governmental funds responsible for liquidating OPEB liabilities include; General Fund, Community Development, and Parking.

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 340 Inactive employees entitled to but not yet receiving benefits - Active employees 832
Total 1,172

Packet Pg. 430 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
135
Note 19 – Other Postemployment Healthcare Benefits (Continued) Net OPEB Liability
The City’s net OPEB liability was measured as of June 30, 2022, and the actuarial valuation used to calculate the net OPEB liability was as of June 30, 2021.

Actuarial Assumptions
The total OPEB liability in the June 30, 2021 actuarial valuation was determined using the following actuarial assumptions:

Valuation Date June 30, 2021
Measurement Date June 30, 2022
Actuarial Assumptions:

Discount Rate 3.54% at June 30, 2022 Bond Buyer 20-bond Index

2.16% at June 30, 2021 Bond Buyer 20-bond Index
General Inflation 2.50%
Expected Net Long-Term Rate
of Return on Investments:

3.50% at June 30, 2022

3.50% at June 30, 2021
Mortality Rate Table CalPERS 2000-2019 Experience Study Mortality Improvement Mortality projected fully generational with Scale MP2021 Salary Increases 2.75%
Medical Trend Non-Medicare-6.50% for 2023, decreasing to an ultimate rate of 3.75% in 2076
Medicare-5.65% for 2023, decreasing to an ultimate rate of 3.75% in 2076
Medical participation Medicare- 100% actives and retirees assumed to be eligible and will participate in Medicare
Healthcare participation for
future retirees Single coverage: 60% pre-65, 20% post-65 2-Party and family coverage - 75% pre-65, 50% post-65
Healthcare participation for
current retirees
30% for single and 70% for 2-party/family after age 65
for retirees currently under 65
100% for other retirees

Packet Pg. 431 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
136
Note 19 – 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, 2021 (Measurement Date) $ 52,569 54,992,737 $ 54,940,168 $ Changes in the year:

Service costs 3,366,492 - 3,366,492
Interest on the total pension liability 1,210,868 - 1,210,868 Changes of benefit terms - - -
Effect of economic/demographic gains or losses - - -
Differences between actual and expected experience - - - Change in assumptions (3,351,682) - (3,351,682)
Contributions - employer - 4,601,018 (4,601,018)
Contributions - employer (paid by employer) - - -
Net investment income - 67 (67)
Administrative expenses - (131) 131
Benefit payments, including refunds of employee
contributions
Net changes (64) (3,375,340) (3,375,276)
Balance at June 30, 2022 (Measurement date) 51,617,397 $ 52,505 $ 51,564,892 $ (4,601,018) (4,601,018) -
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 3.54%, as well as what the net OPEB liability would be if it were calculated using a discount rate that is 1 percentage point lower (2.54%) or 1 percentage point higher (4.54%) than the current rate:
1% Decrease
(2.54%)
Current Rate
(3.54%)
1% Increase
(4.54%)
Net OPEB Liability 54,059,515 $ 51,564,892 $ 48,890,641 $ 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 47,145,260 $ 51,564,892 $ 56,381,604 $

Packet Pg. 432 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
137
Note 19 – 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, 2023, the City recognized OPEB expense of $8,307,560. At June 30, 2023, 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
OPEB contributions made after measurement date 3,021,637 $ - $ Changes of assumptions 6,763,329 4,582,629
Difference between expected and actual experience 11,279,098 - Net difference between projected and actual earnings on OPEB plan investments 2,912 -
Total 21,066,976 $ 4,582,629 $
The $3,021,637 reported as deferred outflows of resources related to pension resulting from the City’s contributions subsequent to the measurement date during the fiscal year ended June 30, 2023 will be recognized as a reduction of the net OPEB liability in the year ended June 30, 2024. 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
2024 3,731,985 $
2025 3,247,198
2026 2,954,122
2027 1,634,504
2028 1,270,349
Thereafter 624,552
Total 13,462,710 $
Packet Pg. 433 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
138
Note 20 – Fund Balances
Fund balance as of June 30, 2023, consists of the following:

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

Nonspendable fund balance:

Prepaids and inventory 2,375,297 $ - $ 508 $ 77,069 $ 2,452,874 $ Contractually nonspendable 908,133 - - - 908,133
Total nonspendable - 3,283,430 508 77,069 3,361,007
Restricted fund balance:

Fiscal agent reserves 1,018 - - - 1,018
Debt service 72,574 1,495,651 - 304,665 1,872,890
Opioid Settlement 530,866 - - - 530,866
Special Revenue
Community development - - 57,297,849 - 57,297,849
Housing - - - 16,580,750 16,580,750
Landscape maintenance - - - 866,233 866,233
Library - - - 1,106,609 1,106,609
Local transportation - - - 10,981,690 10,981,690
Police asset seizure - - - 13,824 13,824
Total restricted 1,495,651 604,458 57,297,849 29,853,771 89,251,729 Assigned fund balance:

Operations and maintenance
Fire 189,908 - - - 189,908
Public works 783,640 - - - 783,640
Other 1,771,800 - - - 1,771,800
Capital Projects
Public works 661,098 - - - 661,098
Other 574,594 - - - 574,594
Vehicles and equipment
Fire 49,568 - - - 49,568
Public works 222,169 - - - 222,169
Other 263,098 - - - 263,098
Rolling stock 1,243,179 - - - 1,243,179
Future expenditures 1,288,000 - - - 1,288,000
Future capital projects 876,836 - - - 876,836
Total assigned - 7,923,890 - - 7,923,890
Unassigned:

General fund 14,750,184 - - (191,422) 14,558,762
Total unassigned - 14,750,184 - (191,422) 14,558,762
Total fund balances $ 1,495,651 26,561,962 $ 57,298,357 $ 29,739,418 $ 115,095,388 $ Packet Pg. 434 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
139
Note 21 – Net Investment in Capital Assets
Net Investment in Capital Assets as of June 30, 2023, consisted of the following:

Governmental Business-Type
Activities Activities
Net investment in capital assets
Capital assets, nondepreciable 103,796,691 $ 75,594,286 $ Capital assets, depreciable 261,000,853 467,218,673
Current portion of long-term debt:

Governmental (2,162,338) -
Electric Utility - (12,111,610)
Water Utility - (24,511)
Wastewater Utility - (4,470,255)
Solid Waste Utility - (43,934)
Airport - (80,266)
Storm Drainage Utility - (11,131)
Convention Center - (31,130)
Redding Area Bus Authority - (28,485)
Long-term debt, excluding current portion:

Governmental (27,418,954) -
Electric Utility - (94,995,093)
Water Utility - (1,839)
Wastewater Utility - (44,121,019)
Solid Waste Utility - (82,498)
Airport - (303,355)
Storm Drainage Utility - (920)
Redding Area Bus Authority - (32,157)
Deferred gain/loss on refunding
Governmental 172,591 -
Electric Utility - 5,596,324
Wastewater Utility - 767,723
Debt not used for capital assets
Governmental 82,364 -
Electric Utility - 11,985
Water Utility - 13,560
Airport - 2
Convention Center - 1
Net investment in capital assets $ 392,864,351 335,471,207 $ Packet Pg. 435 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
140
Note 22 – Commitments and Contingencies
A. Construction Commitments
A number of construction contracts existed at June 30, 2023. The unexpended authorized amount of $69,995,810 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. The City realizes a small net revenue from this asset due to the GTN rate reductions implemented annual and the sale of GTN capacity rights.

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. 2024 2025 2026 2027 2028
Purchase Cost $ (million) 11.5 $ 11.8 $ 6.0 $ 2.7 $ - $ % Natural Gas Hedge ** 73% 55% 34% 15% 0%
** 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. 436 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
141
Note 22 – Commitments and Contingencies (Continued)
B. Redding Electric Utility (REU) (Continued)
v) 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 Court of Federal Claims judgement and remanded for future proceedings consistent with the opinion. In June 2023, the City of Redding was awarded $15,884,102 in damages from the litigation.

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, 2023, was $7,150,273. The net position includes Net investment in capital assets of $4,808,303 and Unrestricted of $2,341,970.

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. 437 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
142
Note 23 – 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. 438 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
143
Note 23 – Successor Agency Trust for Assets of the Former Redevelopment Agency (Continued) Long-term debt consisted of the following as of June 30, 2023:

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. 400,000 $
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. 1,795,000 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. 9,535,000
Total bonds outstanding 11,730,000
Discount on Market Street Tax Allocation Bonds, Series 2003 (406 ) Premium on Canby-Hilltop-Cypress Tax Allocation Bonds, Series A 2003 598 Discount on SHASTEC Tax Allocation Bonds, Series 2006 (28, 988) Total discount/premium (28,796)
Total long-term bonded debt 11,701,204 $
Annual requirements to amortize long-term bonds outstanding as of June 30, 2023, are set forth below:

Fiscal Year Principal Interest Total
2023 2,685,000 $ 511,125 $ 3,196,125 $
2024 510,000 432,750 942,750
2025 535,000 409,238 944,238
2026 560,000 384,600 944,600
2027 585,000 357,375 942,375
2028-2032 3,430,000 1,302,000 4,732,000
2033-2037 3,425,000 352,875 3,777,875
2038-2042 - - -
Total 11,730,000 $ 3,749,963 $ 15,479,963 $
Packet Pg. 439 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
144
Note 24 – Subsequent Events
A. Successor Agency to the Redding Redevelopment Agency On September 7, 2023, the City of Redding Successor Agency to the Redevelopment Agency SHASTEC Redevelopment Project issued $7,545,000 of refunding bonds (Successor Agency to the Redding Redevelopment Agency SHASTEC Redevelopment Project Area Tax Allocation Refunding Bonds, Series 2023) to refund the Redding Redevelopment Agency 2006 SHASTEC Redevelopment Project Tax Allocation Bonds. The 2006 Bonds will be called on or about December 1, 2023, in anticipation of favorable market interest rates. This was a straight refunding and no new monies were obtain. The refunding was approved by the Department of Finance on July 17, 2023.

Date of
Issuance Series Name Purpose of Issuance
9/7/2023
Successor Agency to the Redding
Redevelopment Agency SHASTEC
Redevelopment Project Area Tax
Allocation Refunding Bonds, Series
2023
To Refund the Redding Redevelopment
Agency SHASTEC Redevelopment Project
Tax Allocation Bonds Series 2006 in order to
obtain interest savings
B. Zogg Fire Settlement
The City of Redding was notified of the financial contribution related to Shasta County’s District Attorney’s Office Zogg Fire civil settlement with PG&E. PG&E was found responsible for the ignition of the Zogg Fire on September 27, 2020. The City of Redding was awarded in total $4,050,000, with $500,000 for Redding Police Department and $3,550,000 for Redding Fire Department. The allocation of use of the funding was approved by Redding City Council on July 18, 2023.

Department Purpose of Funds
Amount of
Funding
Fire Hire an additional full-time Fire Prevention Inspector (10 years) $3,500,000 Fire Investigation training and expenses $50,000
Police Run targeted overtime operations to combat illegal campfires in fire prone areas within city limits and for arson investigation training. $500,000 Packet Pg. 440 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023)

REQUIRED SUPPLEMENTARY

INFORMATION (UNAUDITED)
145
Packet Pg. 441 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 146
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Packet Pg. 442 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) City of Redding
Required Supplementary Information
Budgetary Information (Unaudited)
For the Year Ended June 30, 2023
147
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. 443 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Actual Variance With
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Property taxes 25,263,510 $ 25,263,510 $ 26,249,843 $ 986,333 $ Sales and use taxes 29,225,810 33,206,810 30,257,827 (2,948,983) Other taxes 10,003,410 11,917,410 11,734,803 (182,607)
Licenses and permits 2,216,500 2,270,740 2,386,162 115,422 Intergovernmental revenues 1,287,060 3,490,770 3,132,968 (357,802) Charges for services 3,445,870 4,162,870 4,815,368 652,498 Fines, forfeitures, and penalties 608,130 1,059,940 1,497,164 437,224 Use of money and property 8,728,230 8,728,560 8,648,508 (80,052) Net investment earnings (loss) 118,010 118,010 451,221 333,211 Other revenue 383,850 738,650 1,371,149 632,499
Total revenues 90,957,270 81,280,380 90,545,013 (412,257) EXPENDITURES:

Current:

General government:
984,330 961,400 953,243 31,087
463,990 321,290 458,072 5,918
9,754,970 8,465,090 7,402,560 2,352,410
712,630 704,810 659,728 52,902
1,778,540 1,589,770 1,858,646 (80,106)
Personnel 557,910 675,100 672,076 3,024
Purchasing 619,970 639,810 616,776 23,034
Public safety:

Police 43,420,350 52,733,670 45,783,914 6,949,756
Fire safety 24,336,630 29,101,300 27,310,634 1,790,666
Public works 20,371,510 23,370,350 17,329,779 6,040,571 Planning 11,077,500 8,803,450 8,029,993 773,457
Recreation and culture 12,122,400 10,481,590 8,243,884 2,237,706 Debt service:

Principal payments 1,749,110 1,917,930 1,870,603 47,327 Interest and fiscal charges 872,020 901,770 898,277 3,493 Total expenditures 142,319,430 127,169,760 122,088,185 20,231,245 REVENUES OVER (UNDER) EXPENDITURES (51,362,160) (45,889,380) (31,543,172) 19,818,988 OTHER FINANCING SOURCES (USES):

Sale of capital assets 75,000 75,000
Transfers in 14,503,360 20,757,760 20,111,442 (646,318) Transfers out (3,034,280) (4,219,490) (4,659,766) (440,276) Total other financing sources (uses) 16,538,270 11,469,080 15,526,676 (1,011,594) CHANGE IN FUND BALANCE (34,823,890) (34,420,300) (16,016,496) 18,807,394 BUDGETARY FUND BALANCES:

Beginning of year 28,725,182 28,725,182 28,725,182 -
End of year (5,695,118) $ (6,098,708) $ 12,708,686 $ 18,807,394 $ (Continued)
Finance
City Treasurer
Budgeted Amounts
City Attorney
City Clerk
City Manager
City of Redding
Schedule of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual (Unaudited) General Fund
For the Year Ended June 30, 2023
148 Packet Pg. 444 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) $ 26,561,962

1. The City budgets for taxes on a cash basis. 262,191

2. The City budgets for grants on a cash basis. (3,556,946)

3. Timing difference due to GASB #33. (66,461)

4. The City does not budget for accounts payable adjustments. (1,978,398)

5. The City does not budget for benefit accruals. (33,317)

6. Financial statement only adjustment for GASB #31. (238,551 )

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. 178,903

8. The City does not budget for special assessments. (10,110)

9. The City does not budget for interest on the long-term advances. (1,797,233)

10. Encumbrances are not included in the Statement of Revenues, Expenditures and Changes in Fund Balance. 67,735

11. The City did not budget for prepaid rent for the Housing Authority and the Agency (6,669,561)

12. The City does not budget for developer's fees that are prepaid. 162,635

13. The City budgeted for prepaid expenditures. (19,620)

14. The City does not budget for interest on deposits held in trust. (10,199)

15. The City does not budget interest accrued at year-end (91,45 9)

16. The City does not budget for CalFire lease of Cypress property that make loan payment (175,258)

76. The City does not budget for interest expended on loan for CalPers UAL prepayment 106,295

18. The City budgets for Shascom payroll revenue on a cash basis 16,078 Budgetary fund balance $ 12,708,686
(Concluded)
Schedule of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual (Unaudited) City of Redding
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, 2023
149 Packet Pg. 445 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Measurement Period 2022 2021 2020
TOTAL PENSION LIABILITY:

Service Costs 8,538,655 $ 7,299,034 $ 7,095,018 $
Interest 34,337,125 33,378,172 32,355,397
Difference Between Expected and Actual Experience 1,706,144 3,379,785 1,379,900 Changes of Assumptions 14,600,120 - -
Benefit Payments, Including Refunds of Employee Contributions (2 (27,548,141) 9,381,884) (26,359,866) Net Change in Total Pension Liability 14,835,209 31,473,801 14,470,449 Total Pension Liability - Beginning 475,245,999 490,081,208 460,775,550 Total Pension Liability - Ending (a) $ 490,081,208 521,555,009 $ 475,245,999 $ PLAN FIDUCIARY NET POSITION:

Contributions - Employer 16,761,832 $ 15,066,353 $ 13,743,592 $ Contributions - Employee 3,941,926 3,711,059 3,533,531
Net Investment Income (28,706,945) 71,581,234 15,455,298 Benefit Payments, Including Refunds of Employee Contributions (2 (27,548,141) 9,381,884) (26,359,866) Plan to Plan Resource Movement - - -
Administrative Expense (237,123) (317,820) (440,162)
Other Miscellaneous Income/(Expense)1
- - -
Net Change in Fiduciary Net Position (37,622,194) 62,492,685 5,932,393 Plan Fiduciary Net Position - Beginning2
318,158,015 380,650,700 312,225,622
Plan Fiduciary Net Position - Ending (b) 343,028,506 $ 380,650,700 $ 318,158,015 $ Plan Net Pension Liability/(Asset) - Ending (a) - (b) 178,526,50 $ 109,430,508 3 $ 157,087,984 $ Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 65.77% 77.67% 66.95% Covered Payroll 48,405,131 $ 44,861,920 $ 42,974,064 $
Plan Net Pension Liability/(Asset) as a Percentage of Covered Payroll 368.82% 243.93% 365.54% Notes to 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 Reporting 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 City of Redding
Required Supplementary Information (Unaudited)
Schedules of Changes in Net Pension Liability and Related Ratios For the Year Ended June 30, 2023
150 Packet Pg. 446 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 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%
California Public Employees' Retirement System ("CalPERS") - Miscellaneous Plan For the Year Ended June 30, 2023
Schedules of Changes in Net Pension Liability and Related Ratios Required Supplementary Information (Unaudited)
City of Redding
151 Packet Pg. 447 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2023 2022 2021
Actuarially Determined Contribution 2 $ 16,765,328 18,428,744 $ 15,066,353 $ Contributions in Relations to the Actuarially Determined Contribution 2 (16,765,328) (18,428,744) (15,066,353)
Contribution Deficiency (Excess) - $ - $ - $
Covered Payroll 3 $ 50,582,394 56,506,209 $ 46,184,875 $ Contributions as a Percentage of Covered-Employee Payroll 3 32.61% 33.14% 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 (Unaudited)
Schedule of Plan Contributions
For the Year Ended June 30, 2023
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 152 Packet Pg. 448 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 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 (Unaudited)
Schedule of Plan Contributions
For the Year Ended June 30, 2023
153 Packet Pg. 449 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Measurement Period 2022 2021 2020
TOTAL PENSION LIABILITY:

Service Costs 6,602,064 $ 5,835,290 $ 5,609,745 $
Interest 24,351,275 23,600,338 22,885,014
Difference Between Expected and Actual Experience (1,394,330) (1,991,350) 198,438 Changes of Assumptions 13,153,936 - -
Benefit Payments, Including Refunds of Employee Contributions (1 (17,632,371) 8,646,091) (16,785,010) Net Change in Total Pension Liability 23,469,834 10,408,927 11,908,187 Total Pension Liability - Beginning 337,367,520 347,776,447 325,459,333 Total Pension Liability - Ending (a) 371,246,281 $ 347,776,447 $ 337,367,520 $ PLAN FIDUCIARY NET POSITION:

Contributions - Employer 12,961,721 $ 12,015,895 $ 10,962,279 $ Contributions - Employee 2,979,070 2,413,060 2,206,742
Net Investment Income (19,281,616) 47,488,980 10,081,863 Benefit Payments, Including Refunds of Employee Contributions (1 (17,632,371) 8,646,091) (16,785,010) Plan to Plan Resource Movement - - -
Administrative Expense (157,674) (208,814) (285,977)
Other Miscellaneous Income/(Expense)
1 - - -
Net Change in Fiduciary Net Position (22,144,590) 44,076,750 6,179,897 Plan Fiduciary Net Position - Beginning2
209,035,943 253,112,693 202,856,046
Plan Fiduciary Net Position - Ending (b) 230,968,103 $ 253,112,693 $ 209,035,943 $ Plan Net Pension Liability/(Asset) - Ending (a) - (b) 140,278,17 $ 94,663,754 8 $ 128,331,577 $ Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 62.21% 72.78% 61.96% Covered Payroll 19,695,894 $ 19,213,993 $ 18,386,577 $
Plan Net Pension Liability/(Asset) as a Percentage of Covered Payroll 712.22% 492.68% 697.96% Notes to 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.

For the Year Ended June 30, 2023
California Public Employees' Retirement System ("CalPERS") - Safety Plan City of Redding
Required Supplementary Information (Unaudited)
Schedules of Changes in Net Pension Liability and Related Ratios 154 Packet Pg. 450 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 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, 2023
City of Redding
Required Supplementary Information (Unaudited)
Schedules of Changes in Net Pension Liability and Related Ratios 155 Packet Pg. 451 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2023 2022 2021
Actuarially Determined Contribution 2 $ 12,958,225 13,986,466 $ 12,015,895 $ Contributions in Relations to the Actuarially Determined Contribution 2 (12,958,225) (13,986,466) (12,015,895)
Contribution Deficiency (Excess) - $ - $ - $
Covered Payroll 3 $ 21,536,663 23,977,908 $ 19,383,450 $ Contributions as a Percentage of Covered Payroll 3 58.33% 60.17% 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:

For the Year Ended June 30, 2023
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.

City of Redding
Required Supplementary Information (Unaudited)
Schedule of Plan Contributions
California Public Employees' Retirement System ("CalPERS") - Safety Plan 156 Packet Pg. 452 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 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%
For the Year Ended June 30, 2023
California Public Employees' Retirement System ("CalPERS") - Safety Plan City of Redding
Required Supplementary Information (Unaudited)
Schedule of Plan Contributions
157 Packet Pg. 453 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Measurement Period 2022 2021 2020
TOTAL PENSION LIABILITY:

Service Costs 960,178 $ 934,480 $ 909,470 $
Interest 6,218,106 6,099,199 5,933,422
Effect of economic/demographic gains or losses 2,650,226 - 535,027 Changes of Assumptions (1,731,147) - -
Benefit Payments, Including Refunds of Employee Contributions (5 (5,178,122) ,549,535) (4,896,050) Net Change in Total Pension Liability 2,547,828 $ 1,855,557 $ 2,481,869 $ Total Pension Liability - Beginning 90,597,758 88,742,201 86,260,332 Total Pension Liability - Ending (a) 93,145,586 $ 90,597,758 $ 88,742,201 $ PLAN FIDUCIARY NET POSITION:

Contributions - Employer 9,061,771 $ 6,575,412 $ 6,888,868 $ Contributions - Employee 393,779 353,687 224,631
Net Investment Income 2 14,530,931 (9,274,876) 2,318,864 Benefit Payments, Including Refunds of Employee Contributions (5 (5,178,122) ,549,535) (4,896,050) Administrative Expenses (213,951) (191,545) (324,596)
Net Change in Fiduciary Net Position (5,582,812) 16,090,363 4,211,717 Plan Fiduciary Net Position - Beginning 75,788,152 59,697,789 55,486,072 Plan Fiduciary Net Position - Ending (b) 70,205,340 $ 75,788,152 $ 59,697,789 $ Plan Net Pension Liability/(Asset) - Ending (a) - (b) 22,940,246 $ 14,809,606 $ 29,044,412 $ Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 75.37% 83.65% 67.27% Covered Payroll 19,143,035 $ 20,161,261 $ 21,474,397 $
Plan Net Pension Liability/(Asset) as a Percentage of Covered Payroll 119.84% 73.46% 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.

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, 2023
Public Agency Retirement System - Miscellaneous Plan (PARS) 1 City of Redding
Required Supplementary Information (Unaudited)
Schedules of Changes in Net Pension Liability and Related Ratios 158 Packet Pg. 454 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 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%
Public Agency Retirement System - Miscellaneous Plan (PARS) For the Year Ended June 30, 2023
City of Redding
Required Supplementary Information (Unaudited)
Schedules of Changes in Net Pension Liability and Related Ratios 159 Packet Pg. 455 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2023 2022 2021
Actuarially Determined Contribution 2 $ 9,589,481 9,823,669 $ 7,158,333 $ (9,589,481) (9,823,669) (7,158,333)
Contribution Deficiency (Excess) - $ - $ - $
Covered Payroll 3 $ 19,255,663 19,482,915 $ 21,054,825 $ Contributions as a Percentage of Covered Payroll 3 50.42% 49.80% 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.

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%
Public Agency Retirement System - Miscellaneous Plan (PARS) All Tiers 1 For the Year Ended June 30, 2023
City of Redding
Required Supplementary Information (Unaudited)
Schedules of Public Agency Retirement Services Retirement Enhancement Plan Contributions All Tiers y
Contribution 2
Entry Age Normal

3.00%
Varies by Years of Service
160 Packet Pg. 456 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 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%
For the Year Ended June 30, 2023
Public Agency Retirement System - Miscellaneous Plan (PARS) All Tiers City of Redding
Required Supplementary Information (Unaudited)
Schedules of Public Agency Retirement Services Retirement Enhancement Plan Contributions All Tiers 161 Packet Pg. 457 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Measurement Period 2022 2021 2020
TOTAL OPEB LIABILITY:

Service Costs 3,366,492 $ 2,473,321 $ 2,266,201 $
Interest 913,626 1,210,868 1,532,174
Difference Between Expected and Actual Experience - 12,995,166 - Changes of Assumptions (3,351,682) 1,566,528 (2,741,226) Benefit Payments, Including Refunds of Employee Contributions (4 (3,646,314) ,601,018) (3,753,880) Net Change in Total OPEB Liability (3,375,340) $ 14,302,327 $ (2,696,731) $ Total OPEB Liability - Beginning 54,992,737 40,690,410 43,387,141 Total OPEB Liability - Ending (a) 51,617,397 $ 54,992,737 $ 40,690,410 $ PLAN FIDUCIARY NET POSITION:

Contributions - Employer 4,601,018 $ 3,646,314 $ 3,753,880 $ Net Investment Income 10 67 634
Benefit Payments, Including Refunds of Employee Contributions (4 (3,646,314) ,601,018) (3,753,880) Administrative Expenses (131) (132) (131)
Net Change in Fiduciary Net Position (64) (122) 503
Plan Fiduciary Net Position - Beginning 52,569 52,691 52,188 Plan Fiduciary Net Position - Ending (b) 52,505 $ 52,569 $ 52,691 $ Plan Net OPEB Liability/(Asset) - Ending (a) - (b) 51,564,892 $ 54,940,168 $ 40,637,719 $ Plan Fiduciary Net Position as a Percentage of the Total OPEB Liability 0.10% 0.10% 0.13% Covered-Employee Payroll 69,040,537 $ 63,075,673 $ 58,084,647 $ Plan Net OPEB Liability/(Asset) as a Percentage of Covered-Employee Payroll 74.69% 87.10% 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 (Unaudited)
Schedules of Changes in Net OPEB Liability and Related Ratios For the Year Ended June 30, 2023
162 Packet Pg. 458 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 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 (Unaudited)
Schedules of Changes in Net OPEB Liability and Related Ratios For the Year Ended June 30, 2023
163 Packet Pg. 459 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2023 2022 2021
Actuarially Determined Contribution 2 $ 4,601,018 3,021,637 $ 3,646,314 $ Contribution 2 (4,601,018) (3,021,637) (3,646,314)
Contribution Deficiency (Excess) - $ - $ - $
Covered-employee Payroll 77,182,339 $ 69,040,537 $ 63,073,360 $ Contributions as a Percentage of Covered-employee Payroll 3.91% 6.66% 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 (Unaudited)
Schedule of Contributions-OPEB
For the Year Ended June 30, 2023
164 Packet Pg. 460 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 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 (Unaudited)
Schedule of Contributions-OPEB
For the Year Ended June 30, 2023
165 Packet Pg. 461 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
166 Packet Pg. 462 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023)

SUPPLEMENTARY

INFORMATION
167
Packet Pg. 463 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
168 Packet Pg. 464 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 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.

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. This fund also accounts for Successor Housing Agency activities funded by program income from Redding Redevelopment Loans.

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
169 Packet Pg. 465 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) General
Street Special
Parking Maintenance Housing Revenue
ASSETS
Cash and investments 247,219 $ 8,629,860 $ 3,189,518 $ - $ Interest receivable, unrestricted 1,190 59,060 2,539,202 - Accounts receivable, net 25 - 44,120 -
Intergovernmental receivable - 2,292,770 108,109 -
Other receivable 12,800 - 2,651 -
Restricted cash and investments - - 231,765 -
Prepaid items 77,069 - - -
Special assessments receivable - - - -
Notes receivable - - 15,236,117 -
Total assets $ 10,981,690 338,303 $ 21,351,482 $ - $

LIABILITIES
Accounts payable 26,285 $ - $ 41,558 $ - $
Accrued liabilities 5,677 - 35,876 -
Intergovernmental payable - - 10,000 -
Due to other funds - - 82,385 -
Accounts payable from restricted assets - - 24,830 -
Unearned revenue - - 1,713,813 -
Deposits - - 232,765 -
Advances from other funds 420,694 - - -
Total liabilities - 452,656 2,141,227 -

DEFERRED INFLOWS OF RESOURCES
Unavailable revenue - - 2,629,505 -
Total deferred inflows of resources: - - 2,629,505 -

FUND BALANCES
Nonspendable 77,069 - - -
Restricted - 10,981,690 16,580,750 -
Unassigned (deficit) (191,422) - - -
Total fund balances 10,981,690 (114,353) 16,580,750 -
Total liabilities, deferred inflows of
resources and fund balances $ 10,981,690 338,303 $ 21,351,482 $ - $ (Continued)
Special Revenue
City of Redding
Combining Balance Sheet
Non-Major Governmental Funds
June 30, 2023
170 Packet Pg. 466 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Special Revenue Debt Service
1915 Act Total
Landscape Assessment Non-Major
Maintenance Asset District Governmental
Districts Library Seizure Bonds Funds
ASSETS
Cash and investments 898,706 $ 2,811,971 $ 13,740 $ 302,989 $ 16,094,003 $ Interest receivable, unrestricted 5,081 10,492 84 1,676 2,616,785 Accounts receivable, net - - - - 44,145
Intergovernmental receivable - 56,403 - - 2,457,282
Other receivable - - - - 15,451
Restricted cash and investments - - - - 231,765
Prepaid items - - - - 77,069
Special assessments receivable 18,958 - - 299,777 318,735 Notes receivable - - - - 15,236,117
Total assets $ 2,878,866 922,745 $ 13,824 $ 604,442 $ 37,091,352 $

LIABILITIES
Accounts payable 42,068 $ 12,260 $ - $ - $ 122,171 $
Accrued liabilities 3,880 1,767 - - 47,200
Intergovernmental payable 729 - - - 10,729
Due to other funds - - - - 82,385
Accounts payable from restricted assets - - - - 24,830
Unearned revenue - 1,701,827 - - 3,415,640
Deposits - - - - 232,765
Advances from other funds - - - - 420,694
Total liabilities 1,715,854 46,677 - - 4,356,414

DEFERRED INFLOWS OF RESOURCES
Unavailable revenue 9,835 56,403 - 299,777 2,995,520
Total deferred inflows of resources: 56,403 9,835 - 299,777 2,995,520

FUND BALANCES
Nonspendable - - - - 77,069
Restricted 866,233 1,106,609 13,824 304,665 29,853,771
Unassigned (deficit) - - - - (191,422)
Total fund balances 1,106,609 866,233 13,824 304,665 29,739,418 Total liabilities, deferred inflows of
resources and fund balances $ 2,878,866 922,745 $ 13,824 $ 604,442 $ 37,091,352 $ (Concluded)
City of Redding
Combining Balance Sheet (Continued)
Non-Major Governmental Funds
June 30, 2023
171 Packet Pg. 467 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) General
Street Special
Parking Maintenance Housing Revenue
REVENUES:

Sales tax revenue - $ - $ - $ 272,517 $
Special assessments - - - -
Licenses, fees and permits 106,571 - - -
Intergovernmental revenues - 11,841,365 13,596,373 -
Charges for services - - - -
Fines, forfeitures and penalties 43,240 - - -
Net investment earnings (loss) 19,786 61,234 167,384 -
Other revenues - - 40,669 -
Total revenues 11,902,599 169,597 13,804,426 272,517
EXPENDITURES:

Current:

Community development - - 13,981,798 -
Public safety - - - -
Public works 461,256 - - -
Recreation and culture - - - -
Capital outlay 582,712 - 99,503 -
Debt service:

Principal retirement 110,367 - - -
Interest and fiscal charges 2,424 - - -
Total expenditures - 1,156,759 14,081,301 -

REVENUE OVER
(UNDER) EXPENDITURE 11,902,599 (987,162) (276,875) 272,517

OTHER FINANCING
SOURCES (USES):

Long-term debt issued 675,787 - - -
Transfers in - - - -
Transfers out - (9,689,019) - (272,517)
Total other financing
sources (uses) (9,689,019) 675,787 - (272,517)
Net change in fund balances 2,213,580 (311,375) (276,875) - FUND BALANCES:

Beginning of year 197,022 8,768,110 16,857,625 -
End of year (114,353) $ 10,981,690 $ 16,580,750 $ - $
(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, 2023
172 Packet Pg. 468 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 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 983,939 - - - 983,939
Licenses, fees and permits - - - - 106,571
Intergovernmental revenues - 209,765 - - 25,647,503
Charges for services - 1,561,266 - - 1,561,266
Fines, forfeitures and penalties 1,048 48,742 - - 93,030 Net investment earnings (loss) (6,025) (43,347) 1,049 3,241 203,322 Other revenues 69,719 15,743 44,635 - 170,766
Total revenues 1,792,169 1,048,681 45,684 3,241 29,038,914 EXPENDITURES:

Current:

Community development - - - - 13,981,798
Public safety - - 53,450 - 53,450
Public works 724,856 - - - 1,186,112
Recreation and culture - 2,629,301 - - 2,629,301
Capital outlay - 31,095 - - 713,310
Debt service:

Principal retirement - - - - 110,367
Interest and fiscal charges - - - - 2,424
Total expenditures 2,660,396 724,856 53,450 - 18,676,762

REVENUE OVER
(UNDER) EXPENDITURE (868,227) 323,825 (7,766) 3,241 10,362,152

OTHER FINANCING
SOURCES (USES):

Long-term debt issued - - - - 675,787
Transfers in - 965,276 - - 965,276
Transfers out - - - - (9,961,536)
Total other financing
sources (uses) 965,276 - - - (8,320,473)
Net change in fund balances 97,049 323,825 (7,766) 3,241 2,041,679 FUND BALANCES:

Beginning of year 542,408 1,009,560 21,590 301,424 27,697,739 End of year 866,233 $ 1,106,609 $ 13,824 $ 304,665 $ 29,739,418 $ (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, 2023
173 Packet Pg. 469 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Licenses and permits 36,000 $ 36,000 $ 106,571 $ 70,571 $ Fines, forfeitures and penalties 30,000 43,130 43,137 7 Interest revenue 3,000 3,000 7,735 4,735
Total revenues 82,130 69,000 157,443 75,313
EXPENDITURES:

Current:

Public works 701,660 719,340 611,218 108,122
Total expenditures 719,340 701,660 611,218 108,122

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES (637,210) (632,660) (453,775) (183,435) Net change in fund balance (637,210) (632,660) (453,775) (183,435) FUND BALANCE:

Beginning of year 197,022 197,022 197,022 -
End of year $ (440,188) (435,638) $ (256,753) $ (183,435) $ $ (114,353)
(12,577)
(13,361)

3. The City budgets for interest on a cash basis 527

4. Encumbrances are not included in the Statement of Revenues, Expenditures and Changes (40,157) in Fund Balance.

5. The City budgets for lease payment, but not at the inception of the lease 675,787

6. The City does not budget the required other financing lease or SBITA revenue at the (675,787) inception of the lease

7. The City does not budget for benefits accrual (32)

8. The City does not budget for prepaid items financed by long term debt. (76,800) Budgetary fund balance $ (256,753)
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.

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, 2023
174 Packet Pg. 470 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Intergovernmental revenue $ 7,349,540 $ 10,004,540 $ 11,243,162 $ 1,238,622 Interest revenues 25,000 25,000 153,633 128,633
Total revenues 7,374,540 10,029,540 11,396,795 1,367,255

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES 10,029,540 7,374,540 11,396,795 1,367,255 OTHER FINANCING SOURCES (USES):

Transfers out (7,661,760) (10,316,760) (9,689,019) 627,741 Total other financing sources (uses) (10,316,760) (7,661,760) (9,689,019) 627,741 Net change in fund balance (287,220) (287,220) 1,707,776 1,994,996 FUND BALANCE:

Beginning of year 8,768,110 8,768,110 8,768,110 -
End of year $ 8,480,890 8,480,890 $ 10,475,886 $ 1,994,996 $ $ 10,981,690
126,320

2. The City budgets for grants and taxes on a cash basis (632,124) Budgetary fund balance $ 10,475,886
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 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, 2023
175 Packet Pg. 471 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Intergovernmental $ 2,012,320 $ 48,784,450 $ 20,904,790 $ (27,879,660) Interest revenue 78,150 238,270 276,461 38,191
Use of money and property 325,530 923,850 923,846 (4)
Other revenues 125,000 4,272,720 4,325,062 52,342
Total revenues 2,541,000 54,219,290 26,430,159 (27,789,131) EXPENDITURES:

Current:

Community development 3,491,520 59,312,340 25,331,122 33,981,218 Total expenditures 3,491,520 59,312,340 25,331,122 33,981,218 Net change in fund balance (5,093,050) (950,520) 1,099,037 6,192,087 FUND BALANCE:

Beginning of year 44,477,019 44,477,019 44,477,019 -
End of year $ 43,526,499 $ 39,383,969 $ 45,576,056 $ 6,192,087 $ 57,298,357
213,181

2. The City does not budget for accounts payable and accrued liability adjustments. 7,554,543

3. The City budgets for and records loans made in the expenditure accounts, but adjusts the actual disbursement to loans receivable. (21,831,030)

4. The City budgets for and records loan payments received in the revenue accounts, but adjusts the actual payment to loans receivable. 923,846

5. The City budgets for grants on a cash basis. (89,905)

6. The City budgets for interest income on notes receivable, trust fund assets, and rolling stock on a cash basis 16,955

7. The City does not budget for benefit accrual on a cash basis. 97

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. (492,116)

9. The City does not budget for allowance for uncollectable loans (5,081)

10. The City doe not budget for interest accruals. (20,248)

11. The City does not budget for unearned revenue. 58

12. The City budgets for grants on a cash basis. - McConnell 2,007,399 Budgetary fund balance $ 45,576,056
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 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, 2023
176 Packet Pg. 472 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Intergovernmental revenue $ 10,467,200 $ 15,841,910 $ 13,814,233 $ (2,027,677) Use of money and property 114,500 177,000 260,183 83,183 Interest 32,270 90,220 167,144 76,924
Other revenues 26,000 26,000 40,669 14,669
Total revenues 10,639,970 16,135,130 14,282,229 (1,852,901) EXPENDITURES:

Current:

Community development 11,078,190 16,860,992 14,247,299 2,613,693 Capital outlay - 16,618 16,618 -
Total expenditures 11,078,190 16,877,610 14,263,917 2,613,693 Net change in fund balance (742,480) (438,220) 18,312 760,792 FUND BALANCE:

Beginning of year 16,857,625 16,857,625 16,857,625 -
End of year $ 16,419,405 $ 16,115,145 $ 16,875,937 $ 760,792 $ 16,580,750
1,916

2. The City does not budget for accounts payable or intergovernmental payable adjustments. 64,864

3. The City budgets for and records loans made in the expenditure accounts, but adjusts the actual disbursement to loans receivable. (205,418)

4. The City budgets for and records loans payments received in the revenue accounts, but adjusts the actual payment to loans receivable. 260,183

5. The City budgets for grants on a cash basis. 19,996

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. (41,503)

7. The City budgets for interest income on notes receivable on a cash basis. 18

8. The City does not budget for interest accruals. (2,173)

9. The City does not budget for unearned revenue. 197,863

10. The City does not budget for refund receivables for Section 8 (559) $ 16,875,937
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 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, 2023
177 Packet Pg. 473 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Sales tax $ 272,520 $ 272,520 $ 272,517 $ (3)
Total revenues 272,520 272,520 272,517 (3)

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES 272,520 272,520 272,517 (3)
OTHER FINANCING SOURCES (USES):

Transfers out (272,520) (272,520) (272,517) 3
Total other financing sources (uses) (272,520) (272,520) (272,517) 3 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, 2023
178 Packet Pg. 474 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Actual Variance with
Amounts Final Budget
Budgetary Positive
Original Final Basis (Negative)
REVENUES:

Intergovernmental $ - $ 2,666,040 $ 1,760,695 $ (905,345) Charges for services 1,740,430 1,561,270 1,561,266 (4)
Fines, forfeitures and penalties 63,000 56,500 48,742 (7,758) Interest revenue 3,500 3,000 16,117 13,117
Other revenue - 8,980 15,743 6,763
Total revenues 1,806,930 4,295,790 3,402,563 (893,227)
EXPENDITURES:

Current:

Recreation and culture 2,676,540 5,418,180 2,777,036 2,641,144 Total expenditures 2,676,540 5,418,180 2,777,036 2,641,144

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES (1,122,390) (869,610) 625,527 (1,747,917) OTHER FINANCING SOURCES (USES):

Transfers in - 962,460 965,276 2,816
Transfers out - (50,000) (50,000) -
Total other financing sources (uses) 912,460 - 915,276 2,816 Net change in fund balance (869,610) (209,930) 1,540,803 1,750,733 FUND BALANCE:

Beginning of year 1,009,560 1,009,560 1,009,560 -
End of year $ 139,950 $ 799,630 $ 2,550,363 $ 1,750,733 $ 1,106,609
78,782

2. The City does not budget for accounts payable adjustments. (82,419)

3. The City budgets for grants on a cash basis. 1,550,930

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. (60,443)

5. The City budgets for interest on a cash basis. (8,875)

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. (34,221) Budgetary fund balance $ 2,550,363
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:

Intergovernmental revenue $ - $ 15,640,860 $ 11,474,744 $ (4,166,116) Investment revenue - - 95,094 95,094
Other 1,653,180 3,920,530 6,573,636 2,653,106
Total revenues 1,653,180 19,561,390 18,143,474 (1,417,916) EXPENDITURES:

Current:

General government 393,690 393,690 77,632 316,058
Public works 58,688,320 65,085,920 24,839,776 40,246,144 Recreation and culture 8,838,390 21,605,930 6,753,766 14,852,164 Debt service:

Principal retirement 285,000 285,000 285,000 -
Interest and fiscal charges 454,290 454,290 454,288 2
Total expenditures 68,659,690 87,824,830 32,410,462 55,414,368

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES (67,006,510) (68,263,440) (14,266,988) 53,996,452 OTHER FINANCING SOURCES (USES):

Transfers in 150,000 150,000 150,000 -
Transfers out (227,280) (227,280) (183,711) 43,569
Total other financing sources (uses) (77,280) (77,280) (33,711) 43,569 Net change in fund balance (67,083,790) (68,340,720) (14,300,699) 54,040,021 FUND BALANCE:

Beginning of year 1,712,086 1,712,086 1,712,086 -
End of year $ (65,371,704) $ (66,628,634) $ (12,588,613) $ 54,040,021 $ 1,495,651
209,882
455,273
(14,696,454)
198,415
(21,627)

6. The City did not budget for revenue from the Agency Fund. (229,753) Budgetary fund balance $ (12,588,613)

4. The City budgets for grants on a cash basis.

5. The City budgets for interest on a cash basis.
not included in the Statement of Revenues, Expenditures, and Changes in Fund Balance.

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 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, 2023
180 Packet Pg. 476 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 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
181 Packet Pg. 477 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Storm Redding
Drainage Area Bus Convention
Airport Utility Authority Center Total
ASSETS
Current assets:

Cash and investments - $ 4,271,983 $ 2,202,554 $ 953,589 $ 7,428,126 $ Accounts receivable, net 34,627 67,290 18 - 101,935
Lease receivable 425,574 - 22,857 236,752 685,183
Interest receivable 155 40,610 8,930 13 49,708
Intergovernmental receivable 6,606,405 257 553,767 - 7,160,429 Prepaid items - 920 239,711 1,495 242,126
Inventories - 58,533 105,724 - 164,257
Total current assets 7,066,761 4,439,593 3,133,561 1,191,849 15,831,764 Non-current assets:

Restricted assets:

Cash and investments 2 3,125,815 - 1 3,125,818
Total restricted assets 2 3,125,815 - 1 3,125,818
Capital assets:

Land 6,242,894 909,184 2,622,238 188,430 9,962,746
Construction in progress 6,951,718 1,713,892 1,271,043 - 9,936,653 Depreciable capital assets, net 26,897,920 15,543,175 7,075,463 699,455 50,216,013 Total capital assets 40,092,532 18,166,251 10,968,744 887,885 70,115,412 Other assets:

Lease receivable, net current 7,018,648 - 80,150 842,304 7,941,102 Total other assets 7,018,648 - 80,150 842,304 7,941,102 Total non-current assets 47,111,182 21,292,066 11,048,894 1,730,190 81,182,332 Total assets 25,731,659 54,177,943 14,182,455 2,922,039 97,014,096

DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to other post
employment benefits 199,237 88,972 - - 288,209
Deferred outflows related to pensions 530,594 460,655 - - 991,249 Total deferred outflows of resources 549,627 729,831 - - 1,279,458 (Continued)
City of Redding
Combining Statement of Net Position
Nonmajor Enterprise Funds
June 30, 2023
182 Packet Pg. 478 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Storm Redding
Drainage Area Bus Convention
Airport Utility Authority Center Total

LIABILITIES
Current liabilities:

Accounts payable 261,884 452,291 880,519 83,663 1,678,357 Accrued liabilities 24,504 22,742 9,183 - 56,429
Accrued interest payable 2,472 - - 320 2,792
Intergovernmental payables - - 124,577 - 124,577
Due to other funds 5,492,888 - 240,326 - 5,733,214
Interfund payables 25,000 - - 87,571 112,571
Unearned revenue 28,337 1,333,170 670,866 - 2,032,373
Deposits payable 84,139 - 3,000 - 87,139
Compensated absences, due within one year 31,047 38,225 - - 69,272 Long-term debt, due within one year 49,085 11,131 28,485 31,130 119,831 State loan, due within one year 31,181 - - - 31,181
Aggregate net OPEB liability 28,577 12,761 - - 41,338
Total current liabilities 6,059,114 1,870,320 1,956,956 202,684 10,089,074 Long-term liabilities:

Compensated absences, due in more than one year 54,013 70,251 - - 124,264 Advances from other funds 1,524,384 - - 1,484,153 3,008,537 Long-term debt, due in more than one year - 920 32,157 - 33,077 State loan, due in more than one year 303,355 - - - 303,355 Aggregate net OPEB liability 459,088 205,016 - - 664,104 Aggregate net pension liability 1,911,333 1,351,504 - - 3,262,837 Total long-term liabilities 4,252,173 1,627,691 32,157 1,484,153 7,396,174 Total liabilities 3,498,011 10,311,287 1,989,113 1,686,837 17,485,248

DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to other post
employment benefits 43,338 19,354 - - 62,692
Deferred inflows related to pensions 47 6,988 - - 7,035 Deferred inflows related to leases 7,444,222 - 103,007 1,079,056 8,626,285 Total deferred inflows of resources 26,342 7,487,607 103,007 1,079,056 8,696,012

NET POSITION
Net investment in capital assets 39,708,913 18,154,200 10,908,102 856,756 69,627,971 Restricted for capital projects - 3,319,632 - - 3,319,632 Unrestricted (deficit) (2,600,033) 1,283,101 1,182,233 (700,610) (835,309) Total net position $ 22,756,933 37,108,880 $ 12,090,335 $ 156,146 $ 72,112,294 $ (Concluded)
Combining Statement of Net Position (Continued)
Nonmajor Enterprise Funds
June 30, 2023
City of Redding
183 Packet Pg. 479 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
184 Packet Pg. 480 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Storm Redding
Drainage Area Bus Convention
Airport Utility Authority Center Total
OPERATING REVENUES:

User fees and charges 158,492 $ 2,234,627 $ 1,551,510 $ - $ 3,944,629 $ Rental fees 1,607,544 - - 211,767 1,819,311
Other operating revenue 986,421 17 - - 986,438
Total operating revenues 2,234,644 2,752,457 1,551,510 211,767 6,750,378 OPERATING EXPENSES:

Cost of power, water, and transportation - - 4,308,340 - 4,308,340 Maintenance, operations, and administration 3,775,540 1,561,073 2,456,540 1,215,520 9,008,673 Depreciation and amortization 1,804,115 1,111,913 1,392,724 75,749 4,384,501 Total operating expenses 2,672,986 5,579,655 8,157,604 1,291,269 17,701,514 Operating gain (loss) (438,342) (2,827,198) (6,606,094) (1,079,502) (10,951,136) NONOPERATING REVENUE (EXPENSES):

Net investment earnings (loss) 6,645 128,607 4,275 - 139,527 Interest expense (35,190) - - (6,927) (42,117)
Intergovernmental revenues 1,860,084 663,832 5,343,539 (1,579) 7,865,876 Gain (loss) on disposal of assets - - 7,481 - 7,481
Other non-operating revenues (expenses) 359,268 3,564 57,249 - 420,081 Total nonoperating revenues (expenses) 796,003 2,190,807 5,412,544 (8,506) 8,390,848 Gain (loss) before operating
transfers and capital contributions 357,661 (636,391) (1,193,550) (1,088,008) (2,560,288) Capital contributions 4,097,398 969,489 524,978 - 5,591,865 Transfers in 522,001 403,990 - 1,380,310 2,306,301
Transfers out (245,000) - - - (245,000)
Change in net position 1,731,140 3,738,008 (668,572) 292,302 5,092,878 NET POSITION:

Beginning of year 33,370,872 21,025,793 12,758,907 (136,156) 67,019,416 End of year 37,108,880 $ 22,756,933 $ 12,090,335 $ 156,146 $ 72,112,294 $ City of Redding
Statement of Revenues, Expenses, and Changes in Net Position Nonmajor Enterprise Funds
For the Year Ended June 30, 2023
185 Packet Pg. 481 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Storm Redding
Drainage Area Bus Convention
Airport Utility Authority Center Total
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers 2,776,225 $ 2,221,709 $ 1,558,317 $ 211,767 $ 6,768,018 $ Cash paid to suppliers (3,207,260) (520,286) (7,122,601) (1,184,430) (12,034,577) Cash paid to employees (1,159,666) (722,712) - (33,158) (1,915,536) Other operating revenue 32,609 17 - - 32,626
Net cash provided by (used in) operating activities 978,728 (1,558,092) (5,564,284) (1,005,821) (7,149,469)

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Intergovernmental revenue received 2,468,440 663,832 5,177,331 - 8,309,603 Advances from other funds 5,492,888 - 240,326 - 5,733,214 Repayment of advances from other funds (1,485,017) - (266,490) (63,530) (1,815,037) Transfers in 481,998 403,990 - 1,380,310 2,266,298
Transfers out (245,000) - - - (245,000) - Net cash provided by non-capital financing activities 1,067,822 6,713,309 5,151,167 1,316,780 14,249,078

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Capital grants received (59,485) (653,169) 369,630 - (343,024) Purchases of capital assets (4,540,280) (2,579,214) (672,615) - (7,792,109) Rents received - - 57,249 - 57,249
Interest paid (48,293) - - (1,872) (50,165)
Principal paid on long-term debt (840,341) (10,658) (32,327) (29,450) (912,776) Cash collected for future capital outlay 326,659 3,564 - - 330,223 Net cash provided by (used in)
capital and related financing activities (3,239,477) (5,161,740) (278,063) (31,322) (8,710,602) CASH FLOWS FROM INVESTING ACTIVITIES:

Net investment earnings (loss) 6,525 106,680 (375) (6,934) 105,896 Net cash provided by (used in) investing activities 106,680 6,525 (375) (6,934) 105,896 Net increase (decrease) in cash
and cash equivalents (1,086,247) 2 (691,555) 272,703 (1,505,097) CASH AND CASH EQUIVALENTS:

Beginning of year - 8,484,045 2,894,109 680,887 12,059,041 End of year 2 $ 7,397,798 $ 2,202,554 $ 953,590 $ 10,553,944 $ Reconciliation to statement of net position:

Cash and cash equivalents $ 4,271,983 - $ 2,202,554 $ 953,589 $ 7,428,126 $ Restricted cash and cash equivalents 3,125,815 2 - 1 3,125,818 $ 7,397,798 2 $ 2,202,554 $ 953,590 $ 10,553,944 $
(Continued)
City of Redding
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
For the Year Ended June 30, 2023
186 Packet Pg. 482 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Storm Redding
Drainage Area Bus Convention
Airport Utility Authority Center Total

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

Operating income (loss) to net cash provided by (used in) (2,827 $ (438,342) ,198) $ (6,606,094) $ (1,079,502) $ (10,951,136) $ Adjustments to reconcile operating (loss) to net
cash provided (used) by operating activities:

Other non-operating revenue and expense 32,609 - - - 32,609 Depreciation and amortization 1,804,115 1,111,913 1,392,724 75,749 4,384,501 (Increase) decrease in accounts receivable 24,668 (12,918) 6,807 - 18,557 (Increase) decrease in inventories - (36,604) (13,253) - (49,857) (Increase) decrease in prepaid items - - - (1) (1)
(Increase) decrease in accounts payable (736,396) 348,649 335,724 - (52,023) Increase (decrease) in accrued liabilities 5,520 11,202 2,995 (2,067) 17,650 Increase (decrease) in deposits liability (900) - - - (900) Increase (decrease) in intergovernmental payable (2,583) - (683,187) - (685,770) Increase (decrease) in unearned revenue 13,747 - - - 13,747 Increase (decrease) in accrued compensated absences 16,744 17,845 - - 34,589 Other post employment benefits relaed items 90,786 23,105 - - 113,891 Pension related items 20,796 (46,122) - - (25,326)
Total adjustments 1,417,070 1,269,106 1,041,810 73,681 3,801,667 Net cash provided by (used) operating activities $ 978,728 (1,558,092) $ (5,564,284) $ (1,005,821) $ (7,149,469) $

SCHEDULE OF NONCASH CAPITAL AND
RELATED FINANCING ACTIVITIES:

Plant contributed from developers - $ 969,489 $ - $ - $ 969,489 $ Transfer of capital assets - 403,990 - - 403,990
Total non-cash capital and
related financing activities $ 1,373,479 - $ - $ - $ 1,373,479 $ (Concluded)
Combining Statement of Cash Flows (Continued)
Nonmajor Enterprise Funds
For the Year Ended June 30, 2023
City of Redding
187 Packet Pg. 483 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
188 Packet Pg. 484 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023)

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.
189 Packet Pg. 485 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Information General Support
Equipment Systems Services
ASSETS
Current assets:

Cash and investments $ 3,059,434 685,421 $ 1,849,237 $
Interest receivable 2,106 15,817 9,075
Accounts receivable, net - 92 1,739
Prepaid items 1,554 2,045,151 132,303
Intergovernmental receivable - 277 -
Inventories - 476,968 -
Interfund receivable - - -
Total current assets 1,166,418 5,120,402 1,992,354
Non-current assets:

Capital assets:

Land - - 110,810
Construction in progress - - 508,145
Depreciable capital assets, net 272,723 506,368 319,706 Capital assets, net 506,368 272,723 938,661
Other assets:

Advances to other funds - - -
Total other assets - - -
Total non-current assets 506,368 272,723 938,661
Total assets 5,393,125 1,672,786 2,931,015

DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to other post employment benefits 403,450 358,852 509,898 Deferred outflows related to pensions 1,457,269 1,662,418 2,024,845 Total deferred outflows of resources 2,065,868 1,816,121 2,534,743

LIABILITIES
Current liabilities:

Accounts payable 16,321 586,918 91,069
Intergovernmental payable - - 43,814
Accrued liabilities 57,665 49,680 111,507
Claims and judgements payable - - -
Interfund payable - - 25,000
Unearned revenue - - -
Compensated absences - current 106,732 92,008 173,810
Long-term debt, due within one year 45,107 - 47,923
Aggregate net OPEB liability 57,867 51,471 73,134
Total current liabilities 217,465 846,304 566,257
Long-term liabilities:

Advances from other funds - - 6,250
Compensated absences 205,246 265,387 382,417
Claims and judgements - - -
Long-term debt, due in more than one year 47,126 - 87,051 Aggregate net OPEB liability 929,642 826,883 1,174,928
Aggregate net pension liability 5,369,249 4,501,487 6,238,194 Total long-term liabilities 5,533,616 6,611,404 7,888,840 Total liabilities 7,457,708 5,751,081 8,455,097

DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to other post employment benefits 87,761 78,060 110,916 Deferred inflows related to pensions 17,005 14,118 24,001 Total deferred inflows of resources 101,879 95,065 134,917

NET POSITION
Investment in capital assets 506,368 180,490 803,687
Unrestricted (deficit) (2,863,607) (281,084) (3,927,943) Total net position $ (2,357,239) $ (100,594) $ (3,124,256) (Continued)
City of Redding
Combining Statement of Net Position
All Internal Service Funds
June 30, 2023
190 Packet Pg. 486 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Risk Municipal Utilities
Management Support Total
ASSETS
Current assets:

Cash and investments $ 1,265,703 11,301,431 $ 18,161,226 $ Interest receivable 65,180 6,407 98,585
Accounts receivable, net - 151,831 153,662
Prepaid items 1,006 - 2,180,014
Intergovernmental receivable - - 277
Inventories - - 476,968
Interfund receivable - 112,571 112,571
Total current assets 11,632,019 1,272,110 21,183,303
Non-current assets:

Capital assets:

Land - - 110,810
Construction in progress - - 508,145
Other capital assets, net 356,049 - 1,454,846
Capital assets, net - 356,049 2,073,801
Other assets:

Advances to other funds - 3,195,449 3,195,449
Total other assets 3,195,449 - 3,195,449
Total non-current assets 3,195,449 356,049 5,269,250
Total assets 1,628,159 14,827,468 26,452,553

DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to other post employment benefits 532,828 131,340 1,936,368 Deferred outflows related to pensions 431,094 2,635,221 8,210,847 Total deferred outflows of resources 3,168,049 562,434 10,147,215

LIABILITIES
Current liabilities:

Accounts payable 393,440 17,580 1,105,328
Intergovernmental payable - 1,096,980 1,140,794
Accrued liabilities 33,070 87,064 338,986
Claims and judgements payable - 8,222,185 8,222,185
Interfund payable - - 25,000
Unearned revenue - 189,740 189,740
Compensated absences - current 256,655 28,019 657,224
Long-term debt, due within one year - - 93,030
Aggregate net OPEB liability 76,424 18,838 277,734
Total current liabilities 9,982,272 437,723 12,050,021
Long-term liabilities:

Advances from other funds 6,250
Compensated absences 66,805 437,145 1,357,000
Claims and judgements - 10,295,055 10,295,055
Long-term debt, due in more than one year - - 134,177
Aggregate net OPEB liability 1,227,760 302,638 4,461,851 Aggregate net pension liability 7,546,219 1,380,912 25,036,061 Total long-term liabilities 12,045,410 9,211,124 41,290,394 Total liabilities 9,648,847 22,027,682 53,340,415

DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to other post employment benefits 115,904 28,570 421,211 Deferred inflows related to pensions 3,918 44,151 103,193 Total deferred inflows of resources 160,055 32,488 524,404

NET POSITION
Investment in capital assets 1,846,594 356,049
Unrestricted (deficit) (6,670,268) (5,368,743) (19,111,645) Total net position $ (6,670,268) $ (5,012,694) $ (17,265,051) (Concluded)
June 30, 2023
All Internal Service Funds
Combining Statement of Net Position (Continued)
City of Redding
191 Packet Pg. 487 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
192 Packet Pg. 488 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) General Municipal
Information Support Risk Utilities
Equipment Systems Services Management Support Total
OPERATING REVENUES:

User fees and charges 5,929,583 $ 6,869,911 $ 7,524,413 $ 55,583,468 $ 5,239,190 $ 81,146,565 $ Other operating revenue 2,975 185 1,501 54,534 - 59,195 Total operating revenues 6,870,096 5,932,558 7,525,914 55,638,002 5,239,190 81,205,760 OPERATING EXPENSES:

Maintenance, operations,
and administration 4,302,215 6,036,753 7,759,134 58,582,133 4,927,654 81,607,889 Depreciation and amortization 143,148 112,624 76,965 - 62,164 394,901 Total operating expenses 4,414,839 6,179,901 7,836,099 58,582,133 4,989,818 82,002,790 OPERATING INCOME (LOSS) 2,455,257 (247,343) (310,185) (2,944,131) 249,372 (797,030)

NONOPERATING REVENUE
(EXPENSES):

Net investment earnings (loss) (3,801) (20,076) 42,759 143,007 15,283 177,172 Interest expense (2,363) (2,970) (3,142) - (3,787) (12,262) Intergovernmental revenues 6,795 - - 8,023 - 14,818
Gain (loss) on disposal of capital assets - - - - 35,473 35,473 Other non-operating revenue (expense) (6,473,899) - - 273 - (6,473,626) Total nonoperating expenses (23,046) (6,473,268) 39,617 151,303 46,969 (6,258,425) Income (loss) before transfers
and contributions 2,432,211 (6,720,611) (270,568) (2,792,828) 296,341 (7,055,455) Capital contributions - - - - -
Transfers in 17,607 - 85,279 - - 102,886
Transfers out (69,042) - - - - (69,042)
Changes in net position 2,432,211 (6,772,046) (185,289) (2,792,828) 296,341 (7,021,611) NET POSITION:

Beginning of year 4,414,807 (2,532,805) (2,938,967) (3,877,440) (5,309,035) (10,243,440) End of year (2,357,239) $ (100,594) $ (3,124,256) $ (6,670,268) $ (5,012,694) $ (17,265,051) $ (281,084) (2,863,607) (3,927,943) (6,670,268) (5,368,743) - - - - - -
City of Redding
Combining Statement of Activities and Changes in Net Position All Internal Service Funds
For the Year Ended June 30, 2023
193 Packet Pg. 489 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) General Municipal
Information Support Risk Utilities
Equipment Systems Services Management Support Total

CASH FLOWS FROM
OPERATING ACTIVITIES:

Cash received from other funds 5,934,532 $ 6,870,096 $ 7,525,907 $ 55,551,175 $ 5,239,190 $ 81,120,900 $ Cash paid to suppliers (3,388,371) (1,113,849) (4,825,512) (56,159,313) (1,079,774) (66,566,819) Cash paid to employees (2,392,001) (2,459,453) (2,833,511) (750,547) (4,181,186) (12,616,698) Net cash provided by
operating activities 3,296,794 154,160 (133,116) (1,358,685) (21,770) 1,937,383

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Repayment of advances from other funds - (80,210) (25,000) - - (105,210) Repayment of advances to other funds - - - 117,250 - 117,250 Advances to other funds - - - (28,720) - (28,720)
Intergovernmental revenue received - - - 8,023 - 8,023
Other - - - 273 - 273
Net cash provided by (used in)
noncapital financing activities (80,210) - (25,000) 96,826 - (8,384)

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Proceeds from sale of assets - - - - 35,964 35,964
Purchase of capital assets - (2,113,498) (540,827) - (101,159) (2,755,484) Interest paid (2,363) (2,970) (3,142) - (3,787) (12,262) Proceeds from long-term debt - 94,402 - - - 94,402
Principal paid on long-term debt - (27,604) - - - (27,604) Net cash (used in)
capital and related financing activities (2,049,670) (2,363) (543,969) - (68,982) (2,664,984)

CASH FLOWS FROM
INVESTING ACTIVITIES:

Investment revenue received (4,462) (30,810) 39,348 106,437 12,123 122,636 Net cash (used in)
investing activities (30,810) (4,462) 39,348 106,437 12,123 122,636 Net increase (decrease) in cash
and cash equivalents 1,136,104 147,335 (662,737) (1,155,422) (78,629) (613,349) CASH AND CASH EQUIVALENTS:

Beginning of year 538,086 1,923,330 2,511,974 12,456,853 1,344,332 18,774,575 End of year 685,421 $ 3,059,434 $ 1,849,237 $ 11,301,431 $ 1,265,703 $ 18,161,226 $ (Continued)
City of Redding
Combining Statement of Cash Flows
Internal Service Funds
For the Year Ended June 30, 2023
194 Packet Pg. 490 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) General Municipal
Information Support Risk Utilities
Equipment Systems Services Management Support Total

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

Operating income (loss) to net cash provided by
(used in) $ 2,455,257 (247,343) $ (310,185) $ (2,944,131) $ 249,372 $ (797,030) $ Adjustments to reconcile operating
income (loss) to net cash provided
(used) by operating activities:

Depreciation and amortization 143,148 112,624 76,965 - 62,164 394,901 (Increase) decrease in
accounts receivable - 1,974 (7) (78,804) - (76,837)
(Increase) decrease in inventories (85,524) - - - - (85,524) (Increase) decrease in prepaid items - (986) (37,801) 5,305 - (33,482) Increase (decrease) in
accounts payable 577,526 38,150 (155,636) 248,380 (380) 708,040 Increase (decrease) in
accrued liabilities 14,491 25,158 45,827 11,501 (44,784) 52,193 Increase (decrease) in claims
and judgements payable - - - 860,300 - 860,300
Increase (decrease) in
intergovernmental payable - - 23,197 458,875 - 482,072
Increase (decrease) in
unearned revenue - - - (8,023) - (8,023)
Increase (decrease) in accrued
compensated absences 50,029 74,369 104,994 25,813 52,364 307,569 Other post employment benifits
related items 109,435 166,039 189,395 58,985 77,905 601,759 Pension related items 38,189 (21,582) (69,865) 3,114 (418,411) (468,555) Total adjustments 841,537 401,503 177,069 1,585,446 (271,142) 2,734,413 Net cash provided by
operating activities $ 3,296,794 154,160 $ (133,116) $ (1,358,685) $ (21,770) $ 1,937,383 $ Schedule of noncash capital activities:

Transfer in of capital assets (51,435) $ - $ - $ - $ - $ (51,435) $ Total non-cash capital and related
financing activities $ - (51,435) $ - $ - $ - $ (51,435) $ (Concluded)
Combining Statement of Cash Flows (Continued)
Internal Service Funds
For the Year Ended June 30, 2023
City of Redding
195 Packet Pg. 491 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
196 Packet Pg. 492 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023)

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.
197 Packet Pg. 493 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Enterprise
Special Anderson
Deposits IPSS Groundwater
Fund Fund Fund Total
ASSETS
Cash and cash equivalents 7,264,390 $ 694,606 $ 5,102 $ 7,964,098 $ Accounts receivable 5,679 92,392 33,052 131,123
Intergovernmental receivable - - - -
Interest receivable 22,831 3,534 - 26,365
Capital assets
Construction in progress - 2,380,119 - 2,380,119
Depreciable capital assets, net - 78,870 - 78,870
Total assets 3,249,521 7,292,900 38,154 10,580,575

LIABILITIES
Deposits 7,251,915 - - 7,251,915
Accounts payable - 2,607 - 2,607
Accrued payroll - 15,277 - 15,277
Intergovernmental payable - - 33,178 33,178
Total liabilities 17,884 7,251,915 33,178 7,302,977

NET POSITION
Individuals, organizations, and other governments 40,985 3,231,637 4,976 3,277,598 Total net position $ 3,231,637 40,985 $ 4,976 $ 3,277,598 $ City of Redding
Combining Statement of Fiduciary Net Position
Fiduciary Funds - Custodial Funds
June 30, 2023
198 Packet Pg. 494 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Enterprise
Special Anderson
Deposits IPSS Groundwater
Fund Fund Fund Total

ADDITIONS
Intergovernmental - fees - $ 1,111,025 $ 8,192 $ 1,119,217 $ Intergovernmental - grants - - 348,024 348,024
User fees - 144,937 - 144,937
Investment income (loss) 11,666 26,327 (224) 37,769
Total additions 1,282,289 11,666 355,992 1,649,947

DEDUCTIONS
Administration - 1,001,115 35,777 1,036,892
Software maintenance and support - 52,578 - 52,578
Project payments - 553,353 315,239 868,592
Depreciation - 39,018 - 39,018
Total deductions 1,646,064 - 351,016 1,997,080
Changes in net position 11,666 (363,775) 4,976 (347,133)

NET POSITION
Beginning of year 29,319 3,595,412 - 3,624,731
End of year $ 3,231,637 40,985 $ 4,976 $ 3,277,598 $
City of Redding
Combining Statement Changes in Fiduciary Net Position
Fiduciary Funds - Custodial Funds
For the Year Ended June 30, 2023
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200 Packet Pg. 496 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023)

OTHER SUPPLEMENTARY

INFORMATION
201
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202 Packet Pg. 498 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023)

OTHER SUPPLEMENTARY

INFORMATION
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 11-04-C-01-RDD
001-Storage Building for FAR Part 139 Equipment
002-Update Airport Layout Plan (ALP)
003-Prepare Airport Electrical Master Plan
004-Acquire Aircraft Rescue Fire Fighting (ARFF) Equipment 005-Rehabilitate Airfield Guidance Signs
006-Rehabilitate Runway 13/34 - Design Only
007-Rehabilitate Parallel and Connecting Taxiways - Design Only 008-Rehabilitate Terminal Building
009-Conduct Wildlife Hazard Assessment
010-Terminal Building Expansion - Design Only
011-PFC Administration Costs
017-Rehabilitate and Expand Terminal Building
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-Airccraft Rescue and Fire Fighting Station Modifications 009-Environmental Assessment Parallel Runway
013-PFC Application/Administration Costs
Application 23-06-C-00-RDD
001-PFC Audit
002-Guidance Sign Installation & Misc NAVAID
003-Terminal Loop Design
004-AAAE-IET Training Program
005-Update Airport Master Plan Study
006-Master Drainage Study
203 Packet Pg. 499 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Cumulative Total September 30, December 31,
June 30, 2022 2022 2022
Unexpended (over expended) passenger facility 126,445 $ 235,050 $ 306,082 $ charges and interest, beginning of period
Revenues:

Amount
Approved
Passenger facility charges collected 4,544,295 69,485 102,828 Interest earned 1,547 19,779 1,626
Total passenger facility charge revenue 4,912,043 $ 4,564,074 71,032 104,454 Expenses:

Project Number/Project Name
Amount
Approved
Completed and Closed Applications 2,766,535 $ 2,766,535 - - Open Projects
Application 11-04-C-01-RDD
001-Storage Building for FAR Part 139 Equipment 14,791 14,791 - - 002-Update Airport Layout Plan (ALP) 1,500 1,500 - -
003-Prepare Airport Electrical Master Plan 1,500 1,500 - - 004-Acquire Aircraft Rescue Fire Fighting (ARFF) Equipment 1,992 1,992 - - 005-Rehabilitate Airfield Guidance Signs 16,588 16,588 - - 006-Rehabilitate Runway 13/34 - Design Only 3,250 3,250 - - 007-Rehabilitate Parallel and Connecting Taxiways - Design Only 2,302 2,302 - - 008-Rehabilitate Terminal Building 60,346 60,346 - -
009-Conduct Wildlife Hazard Assessment 4,510 4,510 - -
010-Terminal Building Expansion - Design Only 12,498 12,498 - - 011-PFC Administration Costs 35,000 35,000 - -
017-Rehabilitate and Expand Terminal Building 519,645 519,645 - - Application 17-05-C-00-RDD
001-Aircraft Rescue and Fire Fighting Vehicle Acquisition 68,676 68,676 - - 002-Airport Master Plan Update 44,832 44,800 - -
003-ADA Passenger Loading Ramp 4,984 4,984 - -
004-Airport Pavement Management System Study 4,735 4,735 - - 005-T-Hangar Taxilane Reconstruction 458,672 394,850 - - 006-West Tie Down Apron Reconstruction 323,278 313,730 - - 007-Airccraft Rescue and Fire Fighting Station Modifications 1,7 1,735 35 - - 009-Environmental Assessment Parallel Runway 32,690 187 - - 013-PFC Application/Administration Costs 150,000 54,870 - - Application 23-06-C-00-RDD
001-PFC Audit 61,141 - - -
002-Guidance Sign Installation & Misc NAVAID 30,811 - - - 003-Terminal Loop Design 53,633 - - -
004-AAAE-IET Training Program 42,000 - - -
005-Update Airport Master Plan Study 103,927 - - -
006-Master Drainage Study 52,001 - - -
Total passenger facility charge revenue expenditures 4,329,024 - - Unexpended (over expended) passenger facility
charges and interest, end of period 235,050 $ 306,082 $ 410,536 $ (Continued)
For the Quarter Ended
City of Redding
Redding Municipal Airport
Schedule of Passenger Facility Charges Collected and Expended and Interest Collected For the Quarters Ended September 30, 2022, December 31, 2022, March 31, 2023, and June 30, 2023 204 Packet Pg. 500 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) For the Year
Ended
March 31, June 30, June 30, Cumulative Total
2023 2023 2023 June 30, 2023
Unexpended (over expended) passenger facility 410,536 $ 247,576 $ 235,050 $ - $ charges and interest, beginning of period
Revenues:

Passenger facility charges collected 73,530 80,815 326,658 4,870,953 Interest earned 1,166 1,668 6,007 25,786
Total passenger facility charge revenue 74,696 82,483 332,665 4,896,739 Expenses:

Project Number/Project Name
Completed and Closed Applications - - 2,766,535 -
Open Projects
Application 11-04-C-01-RDD
001-Storage Building for FAR Part 139 Equipment - - - 14,791 002-Update Airport Layout Plan (ALP) - - - 1,500
003-Prepare Airport Electrical Master Plan - - - 1,500
004-Acquire Aircraft Rescue Fire Fighting (ARFF) Equipment - - - 1,992 005-Rehabilitate Airfield Guidance Signs - - - 16,588
006-Rehabilitate Runway 13/34 - Design Only - - - 3,250 007-Rehabilitate Parallel and Connecting Taxiways - Design Only - - - 2,302 008-Rehabilitate Terminal Building - - - 60,346
009-Conduct Wildlife Hazard Assessment - - - 4,510
010-Terminal Building Expansion - Design Only - - - 12,498 011-PFC Administration Costs - - - 35,000
017-Rehabilitate and Expand Terminal Building - - - 519,645 Application 17-05-C-00-RDD
001-Aircraft Rescue and Fire Fighting Vehicle Acquisition - - - 68,676 002-Airport Master Plan Update - - - 44,800
003-ADA Passenger Loading Ramp - - - 4,984
004-Airport Pavement Management System Study - - - 4,735 005-T-Hangar Taxilane Reconstruction - - - 394,850
006-West Tie Down Apron Reconstruction - - - 313,730
007-Airccraft Rescue and Fire Fighting Station Modifications - - - 1,735 009-Environmental Assessment Parallel Runway - - - 187
013-PFC Application/Administration Costs - - - 54,870
Application 23-06-C-00-RDD
001-PFC Audit 61,141 - 61,141 61,141
002-Guidance Sign Installation & Misc NAVAID 30,811 - 30,811 30,811 003-Terminal Loop Design 67,660 - 67,660 67,660
004-AAAE-IET Training Program 27,750 - 27,750 27,750
005-Update Airport Master Plan Study 29,525 3,115 32,640 32,640 006-Master Drainage Study 20,769 389 21,158 21,158
Total passenger facility charge revenue expenditures 237,656 3,504 241,160 4,570,184 Unexpended (over expended) passenger facility
charges and interest, end of period 247,576 $ 326,555 $ 326,555 $ 326,555 $ (Concluded)
For the Quarter Ended
City of Redding
Redding Municipal Airport
Schedule of Passenger Facility Charges Collected and Expended and Interest Collected (Continued) For the Quarters Ended September 30, 2022, December 31, 2022, March 31, 2023, and June 30, 2023 205 Packet Pg. 501 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
206 Packet Pg. 502 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023)

STATISTICAL

SECTION
207
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208 Packet Pg. 504 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) INDEX Page
Financial Trends 210
These schedules contain trend information to help the reader understand how the City’s financial performance and well-being have changed over time.

Revenue Capacity 221
These schedules contain information to help the reader assess the City’s most significant local revenues sources.

Debt Capacity 228
These schedules present information to help the reader assess the affordability of the City’s current levels of outstanding debt and the City’s ability to issue additional debt in the future.

Demographic and Economic Information 239
These schedules offer demographic and economic indicators to help the reader understand the environment within which the City’s financial activities take place.

Operating Information 243
These schedules contain service and infrastructure data to help the reader understand how the information in the City’s financial report relates to the services the City provides and the activities it performs.

This part of the City of Redding's annual comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City’s overall financial health.

City of Redding
Statistical Section
Overview
209 Packet Pg. 505 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2013-14 2014-15 2015-16 2016-17 2017-18
Governmental activities
Net investment in capital assets 299,220,582 $ 303,789,845 $ 304,441,380 $ 299,478,797 $ 298,515,126 $ Restricted 44,242,198 44,242,198 43,495,762 42,760,454 41,076,874 Unrestricted 12,404,054 (150,344,065) (146,838,910) (157,129,728) (135,453,029) Total governmental activities net position $ 197,687,978 355,866,834 $ 201,098,232 $ 185,109,523 $ 204,138,971 $ Business-type activities
Net investment in capital assets 276,768,127 $ 286,401,920 $ 284,346,442 $ 293,920,914 $ 314,064,755 $ Restricted 18,564,126 18,326,176 15,155,154 14,068,393 12,204,596 Unrestricted 103,748,759 32,692,674 54,363,934 66,198,888 99,325,093 Total business-type activities net position $ 337,420,770 399,081,012 $ 353,865,530 $ 374,188,195 $ 425,594,444 $ Primary government
Net investment in capital assets 575,988,709 $ 590,191,765 $ 588,787,822 $ 593,399,711 $ 612,579,881 $ Restricted 62,806,324 62,568,374 58,650,916 56,828,847 53,281,470 Unrestricted 116,152,813 (117,651,391) (92,474,976) (90,930,840) (36,127,936) Total primary government net position $ 535,108,748 754,947,846 $ 554,963,762 $ 559,297,718 $ 629,733,415 $ Source: City of Redding Annual Comprehensive Financial Report City of Redding
Fiscal Year
Last Ten Fiscal Years Ended June 30, 2023
(accrual basis of accounting)
Net Position by Component
210 Packet Pg. 506 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2018-19 2019-20 2020-21 2021-22 2022-23
Governmental activities
Net investment in capital assets 296,238,160 $ 293,561,715 $ 307,597,872 $ 317,742,758 $ 335,471,207 $ Restricted 67,544,524 67,415,758 99,523,339 99,799,590 123,734,817 Unrestricted (157,348,852) (152,188,061) (157,650,758) (146,175,614) (152,837,374) Total governmental activities net position $ 208,789,412 206,433,832 $ 249,470,453 $ 271,366,734 $ 306,368,650 $ Business-type activities
Net investment in capital assets 320,934,467 $ 327,301,815 $ 358,579,485 $ 368,787,712 $ 392,864,351 $ Restricted 10,072,298 8,589,905 9,433,039 6,782,510 8,921,648 Unrestricted 112,968,216 127,947,134 105,661,660 110,264,669 108,075,347 Total business-type activities net position $ 463,838,854 443,974,981 $ 473,674,184 $ 485,834,891 $ 509,861,346 $ Primary government
Net investment in capital assets 617,172,627 $ 620,863,530 $ 666,177,357 $ 686,530,470 $ 728,335,558 $ Restricted 77,616,822 76,005,663 108,956,378 106,582,100 132,656,465 Unrestricted (44,380,636) (24,240,927) (51,989,098) (35,910,945) (44,762,027) Total primary government net position $ 672,628,266 650,408,813 $ 723,144,637 $ 757,201,625 $ 816,229,996 $ Source: City of Redding Annual Comprehensive Financial Report Fiscal Year
City of Redding
Net Position by Component (Continued)
Last Ten Fiscal Years Ended June 30, 2023
(accrual basis of accounting)
211 Packet Pg. 507 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2013-14 2014-15 2015-16 2016-17 2017-18
Expenses
Governmental activities
General government $ 7,112,939 6,917,771 $ 8,077,255 $ 7,576,731 $ 7,678,431 $ Police 28,893,564 34,476,947 30,751,887 32,114,904 32,742,710 Fire 20,255,472 20,558,967 20,467,167 22,299,466 23,264,792 Public works 12,421,262 7,261,903 14,954,615 16,211,855 15,039,604 Planning 3,871,712 3,933,284 4,013,885 4,290,932 3,918,206 Recreation and culture 11,558,733 9,366,789 10,791,830 11,219,774 11,137,417 Community development 9,503,654 10,712,285 9,991,686 10,241,866 9,377,682 Interest on long-term debt 2,458,815 1,840,755 1,720,036 1,623,654 1,575,210 Total governmental activities expenses 97,089,614 94,055,238 100,768,361 105,579,182 104,734,052 Business-type activities
Electric 150,171,628 152,786,522 144,525,611 144,826,944 139,069,185 Water 16,921,142 17,185,065 17,023,112 17,810,721 18,714,649 Wastewater 22,541,672 20,289,784 23,872,035 23,748,358 23,807,419 Storm drainage 2,102,618 1,919,740 2,094,900 2,037,068 2,032,999 Solid waste 22,870,947 20,410,950 20,209,534 22,430,632 22,835,505 Transportation 9,874,891 9,569,808 9,948,552 10,114,207 10,256,990 Convention center 1,275,954 1,229,354 1,187,415 1,349,400 1,316,803 Total business-type activities expenses 223,770,887 225,379,188 218,861,159 222,317,330 218,033,550 Total primary government expenses $ 319,434,426 320,860,501 $ 319,629,520 $ 327,896,512 $ 322,767,602 $ Program revenues
Governmental activities
Charges for services:

General government $ 6,516,578 5,967,284 $ 6,213,317 $ 6,395,898 $ 6,522,621 $ Public works 577,312 682,515 650,616 669,769 785,973
Planning 1,748,627 1,673,717 1,286,338 1,986,579 1,822,316 Other activities 3,988,580 4,167,614 4,743,501 4,804,529 4,921,877 Operating grants and contributions 22,330,062 18,014,648 18,663,414 16,491,007 15,293,829 Capital grants and contributions 6,942,319 5,505,363 18,960,524 6,040,837 11,061,017 Total governmental activities program revenues 41,554,184 36,560,435 50,517,710 36,388,619 40,407,633 Program revenues
Business-type activities
Charges for services:

Electric 162,920,950 163,301,368 158,275,732 165,157,048 158,286,134 Water 18,667,027 17,871,349 17,995,434 19,591,568 22,158,506 Wastewater 22,731,807 24,577,645 26,776,762 26,939,000 27,592,665 Solid waste 19,681,867 20,505,176 21,200,419 22,167,885 22,703,424 Transportation 3,772,347 3,790,418 3,717,047 3,814,776 5,463,971 Other activities 1,513,033 1,622,114 1,744,369 1,687,107 1,419,953 Operating grants and contributions 4,159,414 4,405,158 4,300,769 4,441,415 6,219,525 Capital grants and contributions 7,476,968 6,079,058 3,343,536 2,624,987 8,173,146 Total business-type activities program revenues 240,923,413 242,152,286 237,354,068 246,423,786 252,017,324 Total primary government program revenues $ 278,712,721 282,477,597 $ 287,871,778 $ 282,812,405 $ 292,424,957 $ Net (expense) revenue
Governmental activities (55,535,430) $ (57,494,803) $ (50,250,651) $ (69,190,563) $ (64,326,419) $ Business-type activities 17,152,526 16,773,098 18,492,909 24,106,456 33,983,774 Total primary government $ (40,721,705) (38,382,904) $ (31,757,742) $ (45,084,107) $ (30,342,645) $ SouSource: City of Redding Annual Comprehensive Financial Report Fiscal Year
Last Ten Fiscal Years
(accrual basis of accounting)
City of Redding
Change in Net Position
212 Packet Pg. 508 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2018-19 2019-20 2020-21 2021-22 2022-23
Expenses
Governmental activities
General government $ 9,842,219 7,503,465 $ 7,305,048 $ 7,444,640 $ 11,842,912 $ Police 34,001,886 36,954,392 38,537,805 36,227,155 46,859,911 Fire 23,685,713 24,997,889 27,416,745 24,061,217 27,823,146 Public works 16,096,332 16,133,278 12,781,403 17,139,094 17,061,623 Planning 3,879,239 5,049,433 4,261,253 5,529,441 6,855,776 Recreation and culture 11,360,417 12,101,698 11,436,375 12,086,281 14,167,809 Community development 10,825,020 9,724,970 10,788,241 11,712,568 24,470,351 Interest on long-term debt 1,495,440 1,832,339 1,501,079 1,448,241 1,450,653 Total governmental activities expenses 107,747,462 117,736,268 114,027,949 115,648,637 150,532,181 Business-type activities
Electric 148,470,304 154,180,658 158,675,983 158,141,420 187,014,653 Water 18,747,880 18,403,516 20,163,278 20,378,700 21,304,950 Wastewater 25,734,531 24,553,202 25,097,221 24,957,471 27,965,652 Storm drainage 2,155,137 2,313,546 2,529,827 2,024,016 2,653,578 Solid waste 25,668,200 26,604,891 27,348,763 24,546,239 29,546,236 Transportation 10,837,593 11,140,459 11,187,003 13,906,912 13,700,891 Convention center 1,408,622 1,785,044 873,731 1,221,786 1,299,789 Total business-type activities expenses 231,496,574 240,507,009 245,875,806 245,176,544 283,485,749 Total primary government expenses $ 358,243,277 339,244,036 $ 359,903,755 $ 360,825,181 $ 434,017,930 $ Program revenues
Governmental activities
Charges for services:

General government $ 7,030,150 6,332,966 $ 5,427,109 $ 6,483,335 $ 8,075,361 $ Public works 1,375,532 770,387 822,537 1,055,233 1,196,177 Planning 3,031,727 4,201,516 4,917,418 5,502,403 5,392,509 Other activities 4,555,208 5,182,252 8,134,737 5,910,441 6,934,857 Operating grants and contributions 22,924,591 22,540,523 34,693,970 26,364,886 62,612,981 Capital grants and contributions 8,618,248 13,690,648 27,665,920 18,621,461 23,463,752 Total governmental activities program revenues 46,838,272 53,415,476 81,661,691 63,937,759 107,675,637 Program revenues
Business-type activities
Charges for services:

Electric 155,200,165 151,851,828 158,263,003 159,904,815 199,349,597 Water 22,486,899 23,665,086 26,431,076 25,183,388 26,106,650 Wastewater 29,145,722 29,287,911 30,841,837 32,707,404 33,662,337 Solid waste 23,639,052 24,174,557 26,017,505 26,844,590 27,086,157 Transportation 2,006,964 3,578,926 3,379,397 4,016,624 2,246,283 Other activities 1,495,369 1,944,149 1,950,674 2,400,572 2,449,974 Operating grants and contributions 5,803,463 7,396,940 7,387,085 11,230,562 8,021,675 Capital grants and contributions 7,413,845 16,790,748 7,134,115 5,308,211 13,997,809 Total business-type activities program revenues 247,191,479 258,690,145 261,404,692 267,596,166 312,920,482 Total primary government program revenues $ 312,105,621 294,029,751 $ 343,066,383 $ 331,533,925 $ 420,596,119 $ Net (expense) revenue
Governmental activities (60,909,190) $ (64,320,792) $ (32,366,258) $ (51,710,878) $ (42,856,544) $ Business-type activities 15,694,905 18,183,136 15,528,886 22,419,622 29,434,733 Total primary government $ (46,137,656) (45,214,285) $ (16,837,372) $ (29,291,256) $ (13,421,811) $ Source: City of Redding Annual Comprehensive Financial Report (accrual basis of accounting)
Fiscal Year
City of Redding
Change in Net Position (Continued)
Last Ten Fiscal Years
213 Packet Pg. 509 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2013-14 2014-15 2015-16 2016-17 2017-18
General revenue and
other changes in net position
Governmental activities
Taxes
Sales taxes 21,662,406 $ 22,053,840 $ 22,586,087 $ 23,199,460 $ 23,507,550 $ Property taxes 15,847,198 16,292,632 17,357,917 17,924,119 19,156,295 Transient and occupancy taxes 4,074,333 4,458,110 4,616,654 4,778,285 5,168,477 Motor vehicle in-lieu taxes 37,663 (141) 36,761 40,422 47,718 Franchise taxes 915,623 972,438 1,005,928 1,088,088 1,131,066 Other taxes 1,068,561 1,112,392 1,103,021 1,189,035 1,134,113 Investment earnings (loss) 878,447 582,552 780,348 374,394 525,477 Gain on sale of property 43,617 48,699 1,401,277 166,278 1,464,193 Miscellaneous 144,036 142,599 203,979 152,135 166,647
Transfers 4,666,988 5,020,485 4,568,933 4,289,638 5,440,006 Special item - - - - (2,485,800)
Extraordinary gain - - - - -
Total governmental activities 49,338,872 50,683,606 53,660,905 53,201,854 55,255,742 Business-type activities
Investment earnings (loss) 2,314,998 1,833,914 2,515,901 505,847 980,902 Transfers (4,666,988) (5,013,200) (4,568,933) (4,289,638) (5,440,006) Other items 3,377 2,361 4,883 - -
Total business activities (2,348,613) (3,176,925) (2,048,149) (3,783,791) (4,459,104) Total primary government 46,990,259 47,506,681 51,612,756 49,418,063 50,796,638 Change in net position
Governmental activities (6,196,558) (6,811,197) 3,410,254 (15,988,709) (9,070,677) Adjustments - (151,367,658) - - 28,100,125
Total governmental activities (6,196,558) (158,178,855) 3,410,254 (15,988,709) 19,029,448 Business-type activities 14,803,913 13,596,173 16,444,760 20,322,665 29,524,670 Adjustments - business activities - (75,256,413) - - 21,881,579 Total business activities 14,803,913 (61,660,240) 16,444,760 20,322,665 51,406,249 Total changes in net position - primary government 8,607,355 $ (219,839,095) $ 19,855,014 $ 4,333,956 $ 70,435,697 $ Source: City of Redding Annual Comprehensive Financial Report (accrual basis of accounting)
Fiscal Year
City of Redding
Change in Net Position (Continued)
Last Ten Fiscal Years
214 Packet Pg. 510 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2018-19 2019-20 2020-21 2021-22 2022-23
General revenue and
other changes in net position
Governmental activities
Taxes
Sales taxes 26,879,606 $ 26,695,889 $ 31,159,466 $ 31,845,575 $ 30,469,277 $ Property taxes 20,075,405 21,519,652 22,777,902 24,231,038 26,375,135 Transient and occupancy taxes 6,916,257 5,206,330 6,222,974 8,266,136 7,293,033 Motor vehicle in-lieu taxes 43,852 73,478 67,288 105,953 96,183 Franchise taxes 1,138,077 1,188,938 1,190,714 1,237,911 1,325,736 Other taxes 1,317,172 2,034,827 3,931,465 3,646,978 2,912,615 Investment earnings 1,868,151 1,660,407 340,588 (2,241,966) 1,112,841 Gain on sale of property 7,303 2,859,435 1,050,911 2,154,810 239,117 Miscellaneous 190,920 1,171,866 147,175 226,659 200,627 Transfers 4,767,308 4,265,550 6,158,816 4,134,065 7,833,896 Special item - - - -
Extraordinary gain - - - - -
Total governmental activities 63,204,051 66,676,372 73,047,299 73,607,159 77,858,460 Business-type activities
Investment earnings (loss) 7,452,940 5,946,287 457,322 (6,124,850) 2,409,343 Transfers (4,767,308) (4,265,550) 7,938 (4,134,065) (7,833,896) Other items - - (6,158,816) - 16,275
Total business activities 2,685,632 1,680,737 (5,693,556) (10,258,915) (5,408,278) Total primary government 65,889,683 68,357,109 67,353,743 63,348,244 72,450,182 Change in net position
Governmental activities 2,294,861 2,355,580 40,681,041 21,896,281 35,001,916 Adjustments - - - - -
Total governmental activities 2,294,861 2,355,580 40,681,041 21,896,281 35,001,916 Business-type activities 18,380,537 19,863,873 9,835,330 12,160,707 24,026,455 Adjustments - business activities - - -
Total business activities 18,380,537 19,863,873 9,835,330 12,160,707 24,026,455 Total changes in net position - primary government 20,675,398 $ 22,219,453 $ 50,516,371 $ 34,056,988 $ 59,028,371 $ Source: City of Redding Annual Comprehensive Financial Report Fiscal Year
City of Redding
Change in Net Position (Continued)
Last Ten Fiscal Years
(accrual basis of accounting)
215 Packet Pg. 511 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
216 Packet Pg. 512 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2013-14 2014-15 2015-16 2016-17 2017-18
General fund
Nonspendable 2,884,768 $ 1,726,623 $ 1,875,032 $ 1,833,006 $ 2,748,604 $ Restricted 853,717 648,655 756,897 757,254 762,753
Assigned 2,010,851 (720,495) 678,089 5,509,567 5,489,161 Unassigned 15,586,649 20,565,578 18,534,694 12,381,575 9,682,620 Total general fund $ 22,220,361 21,335,985 $ 21,844,712 $ 20,481,402 $ 18,683,138 $ All other governmental funds
Nonspendable 24,306 $ 18,045 $ 20,521 $ 18,429 $ 20,291 $ Restricted 57,938,036 47,850,398 53,237,478 50,903,778 44,380,448 Unassigned (253,960) (275,436) (307,291) (344,254) (344,640) Total all other governmental funds $ 47,593,007 57,708,382 $ 52,950,708 $ 50,577,953 $ 44,056,099 $ 2018-19 2019-20 2020-21 2021-22 2022-23
General fund
Nonspendable 1,841,971 $ 1,911,241 $ 6,771,284 $ 3,224,350 $ 3,283,430 $ Restricted - 273,610 209,316 141,236 604,458
Assigned 3,533,413 3,195,034 10,524,976 10,117,549 7,923,890 Unassigned 16,686,434 16,964,783 13,001,211 15,242,047 14,750,184 Total general fund $ 22,344,668 22,061,818 $ 30,506,787 $ 28,725,182 $ 26,561,962 $ All other governmental funds
Nonspendable 24,616 $ 24,078 $ 19,107 $ 777 $ 77,577 $
Restricted 67,207,281 67,142,148 78,074,986 73,886,067 88,647,271 Unassigned (342,425) - - - (191,422)
Total all other governmental funds $ 67,166,226 66,889,472 $ 78,094,093 $ 73,886,844 $ 88,533,426 $ Source: City of Redding Annual Comprehensive Financial Report Fiscal Year
Fiscal Year
City of Redding
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
217 Packet Pg. 513 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2013-14 2014-15 2015-16 2016-17 2017-18
Revenues:

Taxes 43,678,499 $ 45,125,212 $ 47,889,908 $ 48,385,407 $ 50,114,315 $ Licenses and permits 1,020,396 1,142,654 1,321,422 1,319,041 1,304,712 Intergovernmental revenues 23,367,310 21,555,631 33,039,876 19,301,043 17,561,603 Charges for services 3,423,766 3,543,025 3,135,897 3,763,928 3,968,265 Fines 1,050,533 968,591 1,434,429 1,598,215 1,445,372
Use of money and property 6,822,715 6,979,312 7,774,752 7,905,927 7,903,045 Interest revenue 642,330 408,382 559,933 351,277 505,398 Special assessments 562,559 480,861 311,291 480,855 612,627 Miscellaneous 2,786,993 2,917,802 6,151,375 3,321,608 4,141,927 Total revenues 83,121,470 83,355,101 101,618,883 86,427,301 87,557,264 Expenditures:

General government 5,339,521 5,335,175 5,531,550 6,170,131 6,061,390 Community development 10,594,203 9,391,315 9,833,058 9,988,629 9,208,634 Public safety 44,050,576 44,658,160 47,667,150 49,561,988 51,305,095 Public works 5,143,666 5,333,076 7,736,374 8,089,769 6,280,036 Planning 3,593,044 3,643,893 4,005,836 4,054,107 3,751,957 Recreation and culture 7,036,366 6,923,444 7,090,091 7,477,025 7,895,240 Capital outlay 9,792,385 16,601,544 16,012,801 6,902,183 11,354,447 Debt service:

Principal retirement 3,512,856 3,721,171 2,785,484 2,532,744 2,657,496 Interest and fiscal charges 1,924,737 1,812,496 1,658,488 1,557,407 1,510,512 Bond issuance costs 266,462 450 - - -
Total expenditures 97,420,724 91,253,816 102,320,832 96,333,983 100,024,807 Excess of revenues over (under) expenditures (14,299,254) (7,898,715) (701,949) (9,906,682) (12,467,543) Other financing sources (uses)
Sale of capital asset 41,909 55,055 1,401,276 166,279 1,275,193 Financing proceeds 565,048 - - - -
Long-term debt issued 11,181,060 - - - -
Bond discount (80,666) - - - -
Premium on bonds issued - - - - -
Payment to refunding bond escrow agent (5,925,272) - - - - Transfers in 13,001,893 14,082,943 12,233,284 13,756,026 12,677,169 Transfers out (8,192,253) (9,069,743) (7,950,559) (7,751,688) (7,307,089) Total other financing sources (uses) 5,068,255 10,591,719 5,684,001 6,170,617 6,645,273 Special item - - - - (2,485,800)
Net change in fund balances $ (9,230,999) 2,693,004 $ 4,982,052 $ (3,736,065) $ (8,308,070) $ Fund balances (deficit), beginning
of year, as originally stated 76,351,363 $ 79,044,367 $ 69,813,368 $ 74,795,420 $ 71,059,355 $ Prior period adjustment - - - - (12,048)
Fund balances (deficit), beginning
of year, as restated 76,351,363 79,044,367 69,813,368 74,795,420 71,047,307 Fund balances (deficit), end of year $ 69,813,368 79,044,367 $ 74,795,420 $ 71,059,355 $ 62,739,237 $ Debt service as a percentage of
noncapital expenditures 7% 7% 5% 5% 5%
Source: City of Redding Annual Comprehensive Financial Report Fiscal Year
City of Redding
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
218 Packet Pg. 514 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2018-19 2019-20 2020-21 2021-22 2022-23
Revenues:

Taxes 56,183,337 $ 56,585,655 $ 65,233,262 $ 69,214,157 $ 68,252,800 $ Licenses and permits 1,777,332 2,588,480 2,449,876 2,495,389 2,496,607 Intergovernmental revenues 31,593,447 24,712,718 31,838,001 33,322,809 62,217,825 Charges for services 4,011,783 5,199,913 6,393,638 7,357,575 6,403,256 Fines 2,005,413 1,173,384 1,346,858 1,368,471 1,630,544 Use of money and property 7,965,078 7,874,941 6,761,893 8,349,455 8,823,765 Interest revenue 1,333,966 1,233,375 348,081 (1,616,423) 1,005,404 Special assessments 575,104 697,098 707,108 928,727 994,049 Miscellaneous 4,251,526 7,095,919 18,101,754 6,127,608 12,932,340 Total revenues 107,161,483 109,696,986 133,180,471 127,547,768 164,756,590 Expenditures:

General government 6,175,867 7,402,934 6,999,481 8,781,231 10,803,116 Community development 9,479,314 10,622,163 11,129,141 12,106,454 24,473,014 Public safety 52,470,544 53,761,183 58,097,550 64,675,885 69,156,652 Public works 7,785,619 7,596,809 6,328,452 10,716,202 8,651,241 Planning 3,718,793 4,543,768 5,122,727 5,843,580 6,582,099 Recreation and culture 7,668,664 8,146,931 7,893,793 8,692,187 9,838,579 Capital outlay 6,897,619 17,919,482 21,604,121 26,023,167 27,843,932 Debt service:

Principal retirement 20,291,342 1,964,210 1,853,967 2,046,549 2,265,970 Interest and fiscal charges 1,629,677 1,543,376 1,587,580 1,513,691 1,550,338 Bond issuance costs 223,905 (466)
Total expenditures 113,500,390 116,341,344 120,616,812 140,398,946 161,164,941 Excess of revenues over (under) expenditures (6,338,907) (6,644,358) 12,563,659 (12,851,178) 3,591,649 Other financing sources (uses)
Sale of capital asset 196,303 2,859,435 1,050,911 2,154,810 239,117 Financing proceeds - - - - -
Long-term debt issued 23,996,354 - - 151,196 865,113
Bond discount - - - - -
Premium on bonds issued 3,272,602 - - - -
Payment to refunding bond escrow agent - - - - -
Transfers in 13,665,199 14,516,043 12,832,566 15,311,345 20,659,066 Transfers out (8,274,047) (10,476,967) (7,357,150) (10,755,027) (12,871,583) Total other financing sources (uses) 6,898,511 32,856,411 6,526,327 6,862,324 8,891,713 Special item - - - - -
Net change in fund balances $ 559,604 26,212,053 $ 19,089,986 $ (5,988,854) $ 12,483,362 $ Fund balances (deficit), beginning
of year, as originally stated 62,739,237 $ 88,951,290 $ 89,510,894 $ 108,600,880 $ 102,612,026 $ Prior period adjustment - - - -
Fund balances (deficit), beginning
of year, as restated 62,739,237 88,951,290 89,510,894 108,600,880 102,612,026 Fund balances (deficit), end of year $ 89,510,894 88,951,290 $ 108,600,880 $ 102,612,026 $ 115,095,388 $ Debt service as a percentage of
noncapital expenditures 5% 20% 4% 3% 3%
Source: City of Redding Annual Comprehensive Financial Report Last Ten Fiscal Years
(modified accrual basis of accounting)
Fiscal Year
City of Redding
Changes in Fund Balances of Governmental Funds (Continued) 219 Packet Pg. 515 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
220 Packet Pg. 516 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Transient
Property Occupancy Sales Other
Fiscal Year Tax Tax Tax Taxes Total
2013-2014 15,942 4,074 21,678 1,984 43,678
2014-2015 16,253 4,459 22,330 2,083 45,125
2015-2016 17,247 4,616 23,918 2,110 47,891
2016-2017 18,131 4,779 23,199 2,276 48,385
2017-2018 19,173 5,168 23,507 2,266 50,114
2018-2019 19,934 6,916 26,878 2,455 56,183
2019-2020 21,460 5,206 26,695 3,224 56,585
2020-2021 22,809 6,224 31,079 5,121 65,233
2021-2022 24,196 8,262 31,867 4,889 69,214
2022-2023 26,250 7,248 30,472 4,283 68,253
Source: City of Redding Annual Comprehensive Financial Report Last Ten Fiscal Years
(in thousands)
City of Redding
General Governmental Tax Revenues By Source
221 Packet Pg. 517 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Base Rate Electricity Sold Base Rate Electricity Sold
Type of Customer Customers (MWHs) Customers (MWHs)
Residential 37,387 361,106 37,561 356,071
Commercial 5,011 336,507 5,034 338,292
Industrial 330 12,303 322 12,366
Other 934 45,923 915 43,087
Total 43,662 755,839 43,832 749,816
Base Rate Electricity Sold Base Rate Electricity Sold
Type of Customer Customers (MWHs) Customers (MWHs)
Residential 38,058 356,741 38,320 358,510
Commercial 4,942 312,484 4,972 298,242
Industrial 334 12,372 338 12,349
Other 930 39,765 936 41,639
Total 44,264 721,362 44,566 710,740
Metered Customers and MWHs Sold
Fiscal Year ended June 30,
2020
City of Redding
Last Ten Fiscal Years
Revenue Base - Own Source Revenue
2019
Fiscal Year ended June 30,
2014 2015
222 Packet Pg. 518 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Base Rate Electricity Sold Base Rate Electricity Sold Base Rate Electricity Sold Type of Customer Customers (MWHs) Customers (MWHs) Customers (MWHs) Residential 37,751 361,427 38,015 366,354 38,088 368,829 Commercial 5,025 332,232 4,949 324,202 4,955 323,799
Industrial 335 13,394 336 13,226 326 12,626
Other 928 42,358 933 41,825 935 41,471
Total 44,039 749,411 44,233 745,607 44,304 746,725
Base Rate Electricity Sold Base Rate Electricity Sold Base Rate Electricity Sold Type of Customer Customers (MWHs) Customers (MWHs) Customers (MWHs) Residential 38,587 393,404 38,572 375,818 38,706 394,986 Commercial 4,975 302,067 5,088 300,597 5,092 308,606
Industrial 353 11,552 351 12,155 336 12,152
Other 966 50,105 970 49,924 974 46,678
Total 44,881 757,128 44,981 738,494 45,108 762,422
City of Redding
Revenue Base - Own Source Revenue (Continued)
Metered Customers and MWHs Sold
Last Ten Fiscal Years
2022
Fiscal Year ended June 30,
2023
Fiscal Year ended June 30,
2016 2017 2018
2021
223 Packet Pg. 519 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Fiscal Year
Monthly Base
Rate
Energy Charge
per kwh
Small
Commercial
(< 15,000
kwh)
Large
Commercial
(> 15,000
kwh)
Small
Commercial
All kwh
Large
Commercial
All kwh
Per kwh in
excess of
15,000
2014 13.00 0.1528 20.00 33.00 0.1679 0.1679 0.0809
2015 13.00 0.1528 20.00 33.00 0.1679 0.1679 0.0809
2016 15.00 0.1528 25.00 140.00 0.1679 0.1679 0.0809
2017 15.00 0.1528 25.00 140.00 0.1679 0.1679 0.0809
2018 15.00 0.1528 25.00 140.00 0.1679 0.0980 0.0980
2019 15.00 0.1528 25.00 140.00 0.1679 0.0980 0.0980
2020 15.00 0.1528 25.00 140.00 0.1679 0.0980 0.0980
2021 15.00 0.1528 25.00 140.00 0.1679 0.0980 0.0980
2022 20.00 0.1508 30.00 145.00 0.1679 0.1011 0.1011
2023 25.00 0.1488 40.00 145.00 0.1645 0.1044 0.1044
Source: City of Redding Utility Rate Schedules
Residential
Energy Charge
Commercial
Monthly Base Rate
Last Ten Fiscal Years
City of Redding
Electric Utility Rates
224 Packet Pg. 520 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Fiscal Year
Monthly Base
Rate All kwh
Per kWh in
Excess of
15,000
If Off-Peak
Demand
Exceeds OnPeak Demand
If Off-Peak
Demand is
Less Than OnPeak Demand
2014 66.00 0.1766 0.0820 0.0692 0.0820
2015 66.00 0.1766 0.0820 0.0692 0.0820
2016 230.00 0.1766 0.0820 0.0692 0.0820
2017 230.00 0.1766 0.0820 0.0692 0.0820
2018 140.00 0.0980 0.0980 0.0980 0.0980
2019 140.00 0.0980 0.0980 0.0980 0.0980
2020 140.00 0.0980 0.0980 0.0980 0.0980
2021 140.00 0.0980 0.0980 0.0980 0.0980
2022 145.00 0.1011 0.1011 0.1011 0.1011
2023 145.00 0.1044 0.1044 0.1044 0.1044
Source: City of Redding Utility Rate Schedules
On Peak Energy Charge Off Peak Energy Charge
Industrial
City of Redding
Electric Utility Rates (Continued)
Last Ten Fiscal Years
225 Packet Pg. 521 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
226 Packet Pg. 522 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Percentage of Percentage of
City Total City Total
Utility Payer Utilities Paid Rank Utilities Paid Utilities Paid Rank Utilities Paid Customer #1 $5,263,751 1 4.03% $5,437,688 1 4.51%
Customer #2 1,773,104 2 1.36% 1,897,814 2 1.57%
Customer #3 1,937,478 3 1.48%
Customer #4 1,401,323 4 1.07% 1,339,300 4 1.11%
Customer #5 1,405,500 5 1.07% 1,658,178 3 1.38%
Customer #6 1,183,642 6 0.91%
Customer #7 1,056,754 7 0.81% 961,548 5 0.80%
Customer #8 801,843 8 0.61% 866,862 7 0.72%
Customer #9 634,970 9 0.49% 627,056 10 0.52%
Customer #10 554,424 10 0.42% 682,237 9 0.57%
Customer #11 918,266 6 0.76%
Customer #12
Customer #13 710,266 8 0.59%
Customer #14
Total $16,012,789 12.25% $15,099,215 12.53%
Source: City of Redding Electric Utility
City of Redding
Principal Electric Utility Payers
Fiscal Years 2022-23 and 2013-14
June 30, 2023 Fiscal Year June 30, 2014 Fiscal Year
227 Packet Pg. 523 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Fiscal Year
Ending Revenue Bonds Loans
Special
Assessment
Bonds SBITAS Leases
2014 39,772 616 510 - 692
2015 36,632 320 123 - 574
2016 34,318 - 92 - 405
2017 31,915 - 63 - 292
2018 29,418 - - - 177
2019 36,562 - - - 60
2020 34,531 - - - -
2021 32,551 - - - -
2022 30,470 - - - 338
2023 28,308 574 - 273 426
(1) Tax Allocation Bonds were associated with the Redevelopment Agency (RDA). The RDA's debt was removed from the City of Redding's totals as the RDA was dissolved by the State of California in 2012.

City of Redding
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
(amounts expressed in thousands, except per capita amount) Governmental Activities
228 Packet Pg. 524 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Fiscal Year
Ending
Revenue
Bonds
Certificates of
Participation Loans SBITAS Leases
Total Primary
Government
Percentage of
Personal
Income (1)
Per Capita
(1)
2014 14,446 166,777 84,258 - 2,156 309,226 9.14% 3,400
2015 12,081 160,556 84,429 - 1,774 296,489 8.27% 3,284
2016 46,761 126,082 84,164 - 1,356 293,178 7.67% 3,245
2017 98,629 65,905 80,784 - - 277,589 6.98% 3,043
2018 134,994 18,249 75,716 - - 258,553 6.32% 2,830
2019 126,304 16,781 70,323 - - 250,029 5.85% 2,725
2020 118,796 15,312 64,800 - - 233,439 5.25% 2,544
2021 169,902 13,844 1,212 - - 217,509 4.59% 2,372
2022 168,955 - 1,128 - 65 200,956 3.93% 2,162
2023 152,042 - 335 3,831 131 185,919 3.72% 2,011
(1) See the Schedule of Demographics for population information by year and personal income.

City of Redding
Ratios of Outstanding Debt by Type (Continued)
Last Ten Fiscal Years
(amounts expressed in thousands, except per capita amount) Business-Type Activities
229 Packet Pg. 525 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
230 Packet Pg. 526 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Percentage Amount
Net Debt Applicable to Applicable to
Jurisdiction Outstanding City of Redding (3) City of Redding Direct:

City of Redding: (1)
Revenue bonds 28,308,363 $ 100.000% 28,308,363 $
Loans 573,566 100.000% 573,566
SBITAS 272,909 100.000% 272,909
Leases 426,454 100.000% 426,454
Total direct debt 29,581,292 29,581,292
Overlapping:

County of Shasta: (2)
Bonds 18,486,233 51.376% 9,497,487
Notes 13,306,593 51.376% 6,836,395
SBITAS 451,374 51.376% 231,898
Leases 14,650,808 51.376% 7,526,999
Shasta County Schools: (2)
Enterprise School District 38,335,019 98.998% 37,950,902 Shasta Union High School District 58,800,042 39.675% 23,328,917 Gateway School 27,281,996 40.679% 11,098,043
Redding School District 25,470,000 99.327% 25,298,587
Columbia School District 7,834,994 73.540% 5,761,855
Shasta College 144,485,000 51.520% 74,438,672
Cascade School 20,109,568 2.069% 416,067
Pacheco School 9,783,254 58.842% 5,756,662
Grant School 1,175,000 52.940% 622,045
Andersion Union High School District 10,595,073 1.101% 1,938,051 Junction School 3,170,000 12.603% 399,515
Total overlapping debt 393,934,954 211,102,095
Total direct and overlapping debt $ 240,683,387 423,516,246 $ Source: (1) City of Redding
(2) Shasta County Auditor-Controller's Office
(3) Percentages for Computation of Direct and Overlapping Debt are calculated by using the Shasta County valuations by taxing district for fiscal year 2021-22.

City of Redding
Computation of Direct and Overlapping Debt
As of June 30, 2023
231 Packet Pg. 527 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2013-14 2014-15 2015-16 2016-17 2017-18
Debt limit 267,472 $ 275,782 $ 289,290 $ 301,892 $ 318,039 $ Total net debt applicable to limit 510 123 92 63 -
Legal debt margin 266,962 $ 275,659 $ 289,198 $ 301,829 $ 318,039 $ Total net debt applicable to the limit
as a percentage of debt limit 0.19% 0.04% 0.03% 0.02% 0.00% Fiscal Year
City of Redding
Legal Debt Margin Information
Last Ten Fiscal Years
(amounts expressed in thousands)
232 Packet Pg. 528 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2018-19 2019-20 2020-21 2021-22 2022-23
Debt limit 334,352 $ 351,116 $ 370,670 $ 390,353 $ 420,217 $ Total net debt applicable to limit - - - - -
Legal debt margin 334,352 $ 351,116 $ 370,670 $ 390,353 $ 420,217 $ Total net debt applicable to the limit
as a percentage of debt limit 0.00% 0.00% 0.00% 0.00% 0.00% Assessed value (1)
Debt limit - 3.75% of total assessed value
Amount of debt applicable to the limit -
Legal debt margin
(1) Assessed valuation includes supplemental tax rolls. $ 420,217
$ 420,217
Note: Debt limit of 15% is based on assessed valuation being equivalent to 25% of full market valuation.

In 1981-1982, assessed valuation became equal to full market valuation. As a result, 1981-1982 and subsequent years' debt limit is computed at 1/4 of 15% or 3.75% of full market valuation.

Fiscal Year
Legal debt margin calculation for fiscal year 2022-23
$ 11,205,786
City of Redding
Legal Debt Margin Information (Continued)
Last Ten Fiscal Years
(amounts expressed in thousands)
233 Packet Pg. 529 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2013-14 2014-15 2015-16 2016-17 2017-18
Operating revenue 22,720,092 $ 24,563,888 $ 25,451,684 $ 25,815,214 $ 27,575,888 $ Other revenue** (86,499) 13,756 15,453 16,261 16,778
Interest revenue 582,376 468,529 609,119 80,155 199,081 Adjusted revenue 23,215,969 25,046,173 26,076,256 25,911,630 27,791,747 25% of adjusted revenue 5,803,992 6,261,543 6,519,064 6,477,908 6,947,937 Actual connection fees 956,137 842,721 1,309,625 1,162,532 874,321 Allowable connection fees 956,137 842,721 1,309,625 1,162,532 874,321 Total revenue 24,172,106 25,888,894 27,385,881 27,074,162 28,666,068 Operating expense (18,451,474) (20,045,882) (21,561,048) (21,645,196) (21,888,127) Add back depreciation/amortization 5,924,400 6,886,048 7,026,394 7,018,740 7,289,864 Net operating expense (12,527,074) (13,159,834) (14,534,654) (14,626,456) (14,598,263) Net wastewater revenues* 11,645,032 $ 12,729,060 $ 12,851,227 $ 12,447,706 $ 14,067,805 $ Total debt service*** 8,117,463 $ 8,131,564 $ 8,129,964 $ 8,569,619 $ 8,573,419 $ Debt coverage ratio 1.43 1.57 1.58 1.45 1.64
* Excludes interest expense and gain/loss on disposal of assets. ** Excludes capital grants.
*** Excludes 2014 defeased debt of $9,126,250
City of Redding
Fiscal Year Ending
Last Ten Fiscal Years
Wastewater Revenue Bond Coverage
234 Packet Pg. 530 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2018-19 2019-20 2020-21 2021-22 2022-23
Operating revenue 29,125,869 $ 29,544,078 $ 30,815,373 $ 32,689,735 $ 33,644,745 $ Other revenue** 19,854 40,019 26,463 17,669 17,592
Interest revenue 1,434,691 1,056,758 81,245 (1,248,594) 515,892 Adjusted revenue 30,580,414 30,640,855 30,923,081 31,458,810 34,178,229 25% of adjusted revenue 7,645,104 7,660,214 7,730,770 7,864,703 8,544,557 Actual connection fees 657,024 990,667 1,167,190 1,053,707 1,673,885 Allowable connection fees 657,024 990,667 1,167,190 1,053,707 1,673,885 Total revenue 31,237,438 31,631,522 32,090,271 32,512,517 35,852,114 Operating expense (22,864,621) (23,847,874) (23,748,891) (23,382,959) (26,709,582) Add back depreciation/amortization 7,345,254 7,627,592 7,810,350 7,530,265 7,319,789 Net operating expense (15,519,367) (16,220,282) (15,938,541) (15,852,694) (19,389,793) Net wastewater revenues* 15,718,071 $ 15,411,240 $ 16,151,730 $ 16,659,823 $ 16,462,321 $ Total debt service*** 8,574,819 $ 6,973,569 $ 6,826,083 $ 6,720,500 $ 2,153,000 $ Debt coverage ratio 1.83 2.21 2.37 2.48 7.65
Last Ten Fiscal Years
Wastewater Revenue Bond Coverage (Continued)
City of Redding
Fiscal Year Ending
235 Packet Pg. 531 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2013-14 2014-15 2015-16 2016-17 2017-18
Operating revenue 18,423,339 $ 17,646,476 $ 16,860,160 $ 18,549,702 $ 22,017,718 $ Other revenue** 172,996 224,874 149,471 137,769 141,212 Interest revenue 411,799 330,137 439,975 77,297 122,970 Adjusted revenue 19,008,134 18,201,487 17,449,606 18,764,768 22,281,900 25% of adjusted revenue 4,752,034 4,550,372 4,362,402 4,691,192 5,570,475 Actual connection fees 753,633 662,463 985,803 961,572 775,752 Allowable connection fees 753,633 662,463 985,803 961,572 775,752 Total revenue 19,761,767 18,863,950 18,435,409 19,726,340 23,057,652 Operating expense (16,703,721) (16,588,595) (16,224,118) (17,486,280) (18,285,529) Add back depreciation/amortization 3,457,758 3,342,717 3,425,653 3,421,610 3,449,869 Net operating expense (13,245,963) (13,245,878) (12,798,465) (14,064,670) (14,835,660) Net water revenues* 6,515,804 $ 5,618,072 $ 5,636,944 $ 5,661,670 $ 8,221,992 $ Total debt service 1,091,335 $ 764,100 $ 768,100 $ 770,500 $ 711,900 $ Debt coverage ratio 5.97 7.35 7.34 7.35 11.55
* Excludes interest expense and gain/loss on disposal of assets. ** Excludes capital grants.
*** Excludes 2014 defeased debt of $7,547,500
Fiscal Year Ending
City of Redding
Water Revenue Bond Coverage
Last Ten Fiscal Years
236 Packet Pg. 532 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2018-19 2019-20 2020-21 2021-22 2022-23
Operating revenue 22,346,030 $ 23,787,534 $ 26,296,180 $ 25,279,631 $ 24,381,200 $ Other revenue** 145,516 151,785 156,454 174,432 722,459 Interest revenue 1,364,769 1,238,316 113,638 (1,605,195) (579,629) Adjusted revenue 23,856,315 25,177,635 26,566,272 23,848,868 24,524,030 25% of adjusted revenue 5,964,079 6,294,409 6,641,568 5,962,217 6,131,007 Actual connection fees 543,546 819,035 1,062,722 913,210 1,542,997 Allowable connection fees 543,546 819,035 1,062,722 913,210 1,542,997 Total revenue 24,399,861 25,996,670 27,628,994 24,762,078 26,067,027 Operating expense (18,381,575) (18,456,013) (19,819,040) (20,142,960) (21,849,404) Add back depreciation/amortization 3,504,227 3,523,021 3,670,489 3,928,806 4,102,715 Net operating expense (14,877,348) (14,932,992) (16,148,551) (16,214,154) (17,746,689) Net water revenues* 9,522,513 $ 11,063,678 $ 11,480,443 $ 8,547,924 $ 8,320,338 $ Total debt service 704,700 $ 731,200 $ 731,200 $ 730,200 $ 733,200 $ Debt coverage ratio 13.51 15.13 15.70 11.71 11.35
Fiscal Year Ending
City of Redding
Water Revenue Bond Coverage (Continued)
Last Ten Fiscal Years
237 Packet Pg. 533 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Funds Debt
Available Available for Service
Fiscal Year Revenue Expense Reserves Debt Service Coverage 2013-2014 162,898,133 125,129,935 45,760,302 83,528,500 13,858,275 6.03 2014-2015 163,267,269 129,689,792 47,747,852 81,325,329 13,857,050 6.07 2015-2016 158,250,632 122,455,892 63,410,359 99,205,099 14,941,042 6.85 2016-2017 165,123,848 120,122,216 81,313,278 126,314,910 14,852,439 8.50 2017-2018 158,389,789 117,670,195 89,028,316 129,747,910 14,117,844 9.19 2018-2019 155,311,811 121,974,239 96,916,465 130,254,037 12,781,170 10.19 2019-2020 151,940,928 130,536,877 102,018,489 123,422,540 12,778,070 9.66 2020-2021 158,320,116 131,172,825 87,201,242 114,348,533 12,780,320 8.95 2021-2022 159,786,038 144,524,041 71,970,574 87,232,571 12,785,570 6.82 2022-2023 199,366,526 166,075,505 70,486,678 103,777,699 14,304,520 7.25 Source: Electric Utility Bond Disclosure Reports
Debt Service
City of Redding
Electric Revenue Bond Coverage
Last Ten Fiscal Years
238 Packet Pg. 534 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Personal Income Per Capita Unemployment
Fiscal Year Square Miles (1) Population (2) (thousands of dollars) Personal Income (3) Rates (4) 2013-2014 60.68 90,901 3,281,072 36,095 9.60
2014-2015 60.68 91,052 3,489,022 38,319 7.80
2015-2016 60.68 90,630 3,686,285 40,674 7.00
2016-2017 60.68 90,765 3,789,439 41,750 5.90
2017-2018 60.68 90,995 3,911,420 42,985 5.10
2018-2019 60.68 91,621 4,040,486 44,100 4.80
2019-2020 60.68 91,503 4,219,478 46,113 9.90
2020-2021 60.88 93,879 4,836,083 51,514 7.10
2021-2022 61.94 92,963 5,110,362 54,972 4.00
2022-2023 61.94 92,465 5,004,206 24,120 5.10
Note: Per capita personal income is based on the calendar year information ending during that fiscal year.

Source: (1) City of Redding - Development Services
(2) State of California Department of Finance
(3) Bureau of Economic Analysis, U.S. Department of Commerce (4) State of California Employment Development Department All numbers revised annually to source.

City of Redding
Demographic Statistics
Last Ten Fiscal Years
239 Packet Pg. 535 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) Percentage Percentage
of Total Area of Total Area
Employer Employees Rank Employment Employees Rank Employment Mercy Medical Center 2,555 1 3.67% 1,727 2 2.37%
Shasta County 1,863 2 2.67% 1,905 1 2.61%
City of Redding ** 913 3 1.31% 1,117 3 1.53%
Shasta Regional Medical Center 860 4 1.23% 829 4 1.14%
Redding Rancheria 665 5 95.00% 462 5 0.63%
California Department of Transportation 585 6 84.00% 459 6 0.63% Shasta Union High School District 567 7 81.00% 397 8 0.54% Shasta Community Health 499 8 72.00%
Shasta Community College 470 9 67.00% 308 10 0.42%
Wal Mart 413 10 59.00% 450 7 0.62%
Total 9,390 7,654
* Full-time equivalent budgeted positions. This includes employees who work outside of the City. ** Full-time budgeted positions
In 2022-23 there were 899 full-time and 266 part-time/temporary positions filled.

Source: Derived roughly from the Employment Development Department's (EDD) listing of the top 25 employers in Shasta County.

City of Redding
Principal Employers in the Greater Redding Metropolitan Area Current Year and Nine Years Ago
2023 2014
240 Packet Pg. 536 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Function/Program
General government 88 88 91 92 91 91 95 95 85 86
Police 131 131 135 135 136 136 143 142 170 170
Fire 85 85 85 85 76 76 79 79 98 99
Public works 66 66 66 66 70 70 70 71 93 94
Planning 29 29 29 29 30 30 30 30 29 29
Recreation and culture 21 21 21 21 22 22 24 25 46 48
Community development 12 8 10 10 12 12 13 13 14 18
Electric 179 180 180 180 181 181 180 180 193 193
Water 27 27 28 28 29 29 30 31 30 30
Wastewater 34 34 36 36 36 36 37 37 39 40
Storm drainage 5 5 5 5 5 5 6 6 6 6
Solid waste 79 79 79 79 82 82 85 85 88 88
Transportation 6 7 7 7 7 7 6 6 10 12
Convention center - - - - - - - - - -
760 762 772 773 777 777 798 800 901 913
Source: City of Redding Personnel Division
City of Redding
Full -Time City Budgeted Employees by Function/Program
Last Ten Fiscal Years
Budgeted Full-time Employees
at June 30,
241 Packet Pg. 537 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
242 Packet Pg. 538 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Police
Stations 1111111111
Patrol units 38 41 45 45 46 46 45 45 45 45
Fire stations 8888888888
Public works
Streets (miles) 465.0 468.0 468.7 469.1 442.3 455.8 459.5 445.7 446.1 449.0 Streetlights 8,025 8,051 8,086 8,204 8,376 8,446 8,876 8,603 8,724 8,874 Recreation and culture
Maintained trails (miles) 66 67 68 39 39 39 39 40 41 41 Parks acreage (improved) 635 636 636 620 598 598 598 598 598 598 Parks acreage (unimproved) 487 487 487 460 443 443 457 457 457 457 Electric
798 798 812 812 815 818 822 824 824 831
Water
Length of water mains 556 557 558 559 557 558 565 566 564 559 Wastewater
Sewer lines (miles) 431.4 431.5 433.2 433.5 432.6 434 436 439 440 442 Solid waste
Collection trucks 32 36 38 37 38 39 39 39 40 41
Storm drainage
Length of system (miles) * 399 397 397 397 393 393 391 391 391 393 Catch basins* 7,068 6,594 6,590 6,594 6,593 6,646 6,748 6,748 6,745 6,799 Transportation
Buses 18 18 20 20 18 18 18 18 18 35
*
Source: City of Redding
City of Redding
Last Ten Fiscal Years
Capital Asset Statistics by Function/Program
Prior to 2014 the storm drain data included both public and private segments and facilities (the data for only the public portion for years prior to 2014 is not available). Starting in 2014 the storm drain data only includes public segments and facilities.

Function/Program
Transmission and
Distribution system (miles)
Fiscal Year Ended June 30,
243 Packet Pg. 539 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2014 2015 2016 2017 2018
Police
Calls for service 91,917 95,237 96,436 95,233 100,562
Felony arrests 2,658 2,237 2,259 2,245 2,526
Misdemeanor arrests 4,010 5,668 6,039 7,860 7,674
Total arrests 6,668 7,905 8,298 10,105 10,200
Fire
Fire, explosion 527 466 476 418 485 *
Rescue, emergency medical call 8,277 8,334 8,131 8,502 8,907 * Fire safety inspections 3,452 3,511 3,661 3,500 2,796 * Public works
Miles of roadway resurfaced 1.8 1.4 7.0 4.0 5.0
Miles of roadway slurry sealed 0.7 26.1 18 0 -
Planning
Number of building permits issued 3,167 3,575 3,813 4,107 4,223 Recreation and culture
Recreation division programs 2,800 2,800 2,650 **1,073 929 Program participants 13,717 13,854 13,793 **12,887 12,917 Redding Aquatic Center attendees - - - 22,626 22,193 ** Special events programs - - - 94 71 **
Special events attendance - - - 24,962 20,998 **
Community development
Number of households assisted (rental assistance) 1,485 1,447 1,556 1,542 1,514 Owner occupied loans made for rehabilitation/purchase 16 20 17 17 12 Rental loans/grants for rehabilitation/purchase 3 3 1 1 5 Electric
Electric customers billed monthly 43,662 43,832 44,039 44,233 44,304 Average sustained outages per customer per year 0.26 0.49 0.38 0.53 0.42 System average retail rates 15.7 16.6 16.7 16.8 16.7
Water
Water produced (acre ft.) 29,307 21,514 20,411 21,674 25,656 Wastewater
Totals household equivalents served 41,988 42,641 42,209 46,079 43,526 Clear Creek dry flow 7.6 5.7 5.7 5.9 5.9
Stillwater dry flow 2.0 1.9 1.9 2.1 2.3
Storm drainage
Percentage of inlets cleaned/maintained (annually) 4.0% 4.0% 4.0% 4.0% 4.0% Solid \waste
Total waste collected (tons) 75,527 75,929 82,985 86,826 86,942 Recyclables sales (tons) 7,385 6,846 7,860 8,897 10,282 Transportation
Airport passenger movements/enplanements 24,951 27,148 35,844 48,048 42,723 RABA bus passengers 827,924 742,712 664,367 679,527 659,562 * Calendar year figures, as Fiscal Year amounts are not available ** Figures were unavailable prior to the implementation of the recreation management software in 2016-17.

Source: City of Redding
City of Redding
Operating Indicators by Function/Program
Last Ten Fiscal Years
Function/Program
Fiscal Year Ended June 30,
244 Packet Pg. 540 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 2019 2020 2021 2022 2023
Police
Calls for service 87,389 85,638 87,959 83,504 90,361
Felony arrests 2,209 2,108 2,325 2,234 2,152
Misdemeanor arrests 5,958 6,897 8,519 7,045 6,337
Total arrests 8,167 9,005 10,844 9,279 8,489
Fire
Fire, explosion 495 451 641 534 402 *
Rescue, emergency medical call 8,569 8,504 9,116 8,999 9,353 * Fire safety inspections 2,756 2,087 1,900 982 1,238 *
Public works
Miles of roadway resurfaced 1.4 2.5 2.8 1.8 5.2
Miles of roadway slurry sealed 13.5 21.5 11 0 12.5
Planning
Number of building permits issued 4,123 6,301 5,844 4,688 4,285 Recreation and culture
Recreation division programs 841 636 652 703 731
Program participants 12,586 11,576 9,438 7,683 9,449
RAC Attendees 12,899 18,505 300 8,019 17,517 **
Special events programs 118 25 11 6 32 **
Special events attendance 21,384 12,830 3,756 2,306 7,576 ** Community development
Number of households assisted (rental assistance) 1,513 1,531 1,502 1,511 1,798 Owner occupied loans made for rehabilitation/purchase 6 10 2 - - Rental loans/grants for rehabilitation/purchase 9 9 8 8 - Electric
Electric customers billed monthly 44,264 44,566 44,881 44,981 45,108 Average sustained outages per customer per year 0.86 0.87 0.49 0.47 0.45 System average retail rates 16.5 14.9 16.3 16.4 16.9
Water
Water produced (acre ft.) 24,053 25,337 26,897 23,846 20,875 Wastewater
Totals household equivalents served 43,550 43,114 43,955 40,210 43,190 Clear Creek dry flow 5.3 6.3 6.1 5.9 4.8
Stillwater dry flow 2.1 2.5 2.4 2.2 2.2
Storm drainage
Percentage of inlets cleaned/maintained (annually) 4.0% 4.0% 4.0% 4.0% 4.0% Solid \waste
Total waste collected (tons) 87,849 93,339 98,433 96,883 93,003 Recyclables sales (tons) 9,538 9,799 9,415 9,053 8,333
Transportation
Airport passenger movements/enplanements 47,833 42,136 46,138 48,209 92,848 RABA bus passengers 575,978 513,618 330,690 360,044 406,268 * Calendar year figures, as Fiscal Year amounts are not available ** Figures were unavailable prior to the implementation of the recreation management software in 2016-17.

Source: City of Redding
City of Redding
Operating Indicators by Function/Program (Continued)
Last Ten Fiscal Years
Function/Program
Fiscal Year Ended June 30,
245 Packet Pg. 541 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
246 Packet Pg. 542 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023)

SUPPLEMENTAL

HISTORICAL INFORMATION
247
Packet Pg. 543 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) This page intentionally left blank
248 Packet Pg. 544 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 249

STATEMENT OF PHYSICAL CONDITION OF

AIRPORT ASSETS
Redding Regional Airport serves the regional area of Northern California consisting of approximately 25,000 square miles covering some eight California counties. The population served is over 282,000 in the primary market (50-mile radius). Commercial, freight, and passenger services are provided by United Express / SkyWest Airlines, Alaska Airlines, Avelo Airlines, Federal Express, & UPS. United Express provides direct flights between Redding and San Francisco, CA (SFO) and Redding & Los Angeles, CA (LAX). Alaska Airlines provides non-stop service to Seattle, WA (SEA) and Avelo Airlines offers service to Burbank, CA (BUR) and Las Vegas, NV (LAS), with LAS having a temporary suspension for 2023. Fixed-based operators (FBOs) provide a wide range of services including general aircraft frame and engine maintenance, as well as avionics, charter services, sales of aircraft, flight instruction, and sales of fuels, lubricants, and accessories. Medical helicopter services and helicopter charters, repairs, and sales, are also available. Currently, four car rental agencies are available to serve the traveling public, three are on-site in the passenger terminal building.

There are 36 permanently assigned tie-downs, Seventy-Five (75) aircraft and eight (8) helicopter tie-downs for transients, 113 T-hangars, and 15 large commercial / corporate hangars that are maintained and leased out by the City of Redding – Airports Division. The T-hangars are 100% occupied, with no vacancies. In 2019, there were 66,962 takeoffs and landings recorded by the Air Traffic Control Tower during its hours of operation, 6:30 am to 9:30 pm, and the number of passengers moved totaled 106,959. In 2020 and 2021, the Covid-19 Pandemic had an effect on the recorded operations with 60,752 and 39,568 and the total passengers moved at 40,074 and 119,315 respectively. In 2022, there were 63,313 takeoffs and landings recorded by the Air Traffic Control Tower during its hours of operation, 6:30 am to 9:30 pm, and the number of passengers moved totaled 202,264.

The Airport features a 32,000 square foot terminal building to serve the traveling public that was expanded and remodeled in 2014. It also features a full-service restaurant and lounge, as well as full services for all business tenants. There is a 333-space public automobile parking lot, as well as 77 spaces for rental cars, adjacent to the terminal building. The passenger terminal aircraft parking ramp is capable of receiving six medium-size jet aircraft at one time. The airport property includes a total of 1,503 acres.

The primary runway (16/34) is 7,003 feet in length and 150 feet wide with lighted distance-remaining markers. It also has a medium-intensity approach lighting system with runway alignment indicator lights (MALSR), a Category I instrument landing system (ILS) on Runway 34, runway-end identifier lights on Runway 16, precision approach path indicator lights (PAPIs), a back course instrument landing system on Runway 16, a global position system (GPS/RNAV) approach, and a VHF omni-directional range (VOR) with distance-measuring equipment (DME) for Runway 34. The crosswind runway (12/30) is 5,067 feet long and 150 feet wide and is equipped with PAPIs for Runway 30.

Benton Field (O85)
Benton Field is located within the city limits of Redding, only a few blocks from the downtown area. It features a runway that is 2,420 feet in length, 75 feet in width, and is lighted for night operations. The runway has two precision approach path indicator light (PAPIs) on both ends of the runway. Currently, there is not a fixed-base operator (FBO), which normally would provide a full range of aircraft services, as well as a café. The California Highway Patrol bases two helicopters and two fixed-wing aircraft at Benton. Also, there are 60 T-Hangars, 30 sun /shade covered aircraft parking spaces and 64 transient tie-downs. Additionally, Benton has two designated helicopter pads and two privately built T-Hangars buildings with ten T-Hangars in one group and eleven THangars to the second group. Benton Field experiences an estimated 37,000 annual aircraft operations.

Collectively, there are over 100 aircraft based on the airfield. Benton Field has over 301 acres of land, and an Automated Weather Observation System (AWOS).

Packet Pg. 545 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 250

HISTORY AND STATEMENT OF PHYSICAL CONDITION OF

ELECTRIC UTILITY SYSTEM ASSETS
History
Electric service in Redding was started before 1900 by a private utility, the Redding Electric Light and Power Company, which obtained electric power from a small hydroelectric plant on the Sacramento River near Redding.

On November 28, 1901, the Keswick Electric Power Company began supplying the utility with electric power from its new Volta Hydro Plant, which had just started operation. Shortly thereafter, the Keswick Company acquired the capital stock of the Redding Electric Light and Power Company. Subsequently, on March 13, 1902, the Northern California Power Company was incorporated, and proceedings were initiated to acquire control of all properties of the Keswick Company through an exchange of stock. This was succeeded in 1908 by the Northern California Power Company Consolidated, which continued operation until October 3, 1919, when it was acquired by Pacific Gas and Electric Company (PG&E) under a merger authorized by the California Railroad Commission.

Before the merger, a group of Redding citizens started a movement to acquire the municipal street-lighting system because of dissatisfaction with the existing system and its operation. As a result, in 1916, a municipal streetlighting system was established. Soon after the municipal street-lighting system began operation, a movement was started for the City of Redding to purchase the electric distribution system from the Northern California Power Company Consolidated, and preliminary negotiations were initiated.

During the negotiations between the City and the Northern California Power Company Consolidated, PG&E acquired the Northern California Power Company Consolidated. The City made a Final payment to PG&E on December 21, 1921. The property and its operations were turned over to the City on that date. Under City ownership and operation, Redding’s Electric Utility (REU) has consistently provided superior service at a competitive price, with rates well below those in the surrounding service territory where PG&E provides service.

Distribution Service
The City’s Electric Utility currently provides service to its customers in an area of approximately 61 square miles, with 72 miles of 115-kV lines and 759 miles of overhead and underground 12-kV distribution lines. The City is proud of its record over the past five years of 99.9912 percent electric service availability to its customers.

Redding is interconnected with the Northern California 230-kV power grid at two points - Western Area Power Administration’s (Western) Keswick Switchyard and the Western/Redding Airport 230/115-kV Substation.

Delivery of all power from sources outside of the City is made to Redding at the Keswick Switchyard and Airport Substation. The City owns and operates the 115-kV lines that interconnect the City’s 115/12-kV distribution substations to these delivery points. This system is designed as a highly reliable looped system (at least two sources for every distribution substation) with state-of-the-art 115-kV circuit breakers and relay systems, ensuring that an outage or failure of any 115-kV line will not interrupt power to any City customer.

Design and right-of-way acquisition for the Stillwater Business Park distribution service was completed in FY 2008. The Stillwater 115-kV line termination work was completed on August 15, 2008. The Stillwater 115-kV transmission project began construction in April 2012 and was completed on April 20, 2017. The City’s current distribution system consists of eleven 115/12-kV distribution substations where power is transformed from 115- kV to 12-kV distribution voltage and connected to the service distribution transformers via the 12-kV distribution lines. The 12-kV distribution system is a very reliable radial-type system designed to serve all customers from another feeder if the normal source is experiencing a problem.

Packet Pg. 546 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 251
Power Supply
The City’s retail power supply comes from a diverse portfolio. Redding typically receives about 30% of its power supply from Western in an average hydro year. FY 2022-23 was below average, with Western providing 11.4% of the City’s system load. Western’s power is generated at Shasta Dam and 11 other facilities, which are a part of the Central Valley Project (CVP). Redding also relies on the City’s existing generation resources and other powerpurchase and exchange contracts, as well as short-term firm purchases, to provide low-cost service to all of the City’s customers.

To accommodate anticipated growth, the City developed several projects to increase power generation. The City’s Whiskeytown Hydroelectric Project became operational on September 3, 1986. In August 1991, the City purchased a 28-MW steam turbine generation project located within Redding city limits, now known as the Redding Power Plant. On June 1, 1994, the City began scheduling and dispatching the power produced by these various resources. The scheduling and dispatching operations allow Redding to take advantage of relatively inexpensive energy, which becomes available from time to time in the short-term wholesale power market. Three combustion turbine generators totaling 70-MW were added in 1996. In June 2002, the City commissioned Unit 5, a 43-MW highly efficient combined-cycle gas turbine with a heat recovery steam generator to be operated with the 28-MW steam turbine, bringing the total on-site generation to 141-MW. Construction began in September 2008 on Unit 6, which is a 47-MW combined cycle gas turbine nearly identical to the existing Unit 5. Unit 6 went into service in August 2011, which increased the overall Redding Power Plant capacity to 183-MW.

In addition to its own generation, the City has acquired several other sources of electric power through long-term, purchase-power contracts. Through its membership in a joint powers agency consisting of Modesto Irrigation District, City of Santa Clara, and City of Redding (M-S-R), the City entered into a long-term power purchase agreement for 70-MW of wind-generated power through the Big Horn Wind I Project (Big Horn). Deliveries for Big Horn began on October 1, 2006.

The City is a member of various organizations and agencies: Balancing Authority of Northern California (BANC), Northern California Power Agency (NCPA), M-S-R, Transmission Agency of Northern California (TANC), and Western Systems Power Pool (WSPP). The City contracted for and developed various power generation and transmission resources through these affiliations, including partial ownership of the San Juan coalfired generating station, the Desert Southwest Transmission Project, and the California-Oregon Transmission Project. The City and M-S-R divested themselves of their ownership of the San Juan generating station in December 2017 and the Southwest Transmission Project in May 2016, while debt service remains through 2023.

In response to changes in the bilateral power markets, the City officially joined the Energy Imbalance Market (EIM) through BANC, and became an active participant on April 1, 2021. The EIM, administered by the California Independent System Operator (CAISO), is a 5-minute, real-time bulk power trading market that optimizes the lowest-cost energy to serve real-time customer demand across a wide geographical region.

To operate cost-effectively, the City developed several load-management and energy-conservation programs, including public awareness campaigns, technical conservation assistance, rebates on energy-efficient products and technologies, renewable technologies, and energy-efficient streetlights. In FY 2022, the City developed the Demand-Side Integrated Resource Plan (DSM-IRP) and determined that decarbonization programs (i.e. electrification) were more cost-effective than energy-efficiency programs due to their inherent ability to produce downward rate pressure from the increased retail load. The electrification rebate programs, which help reduce carbon emissions by including incentives for switching appliances from natural gas to electric technologies, were launched at the beginning of FY 2023. Additionally, the City has provided opportunities for load management through applicable rate design.

Packet Pg. 547 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 252
Customer Base
The table below shows a five-year history of the growth in electric system customer accounts.

Number of Customer Accounts
Fiscal Year
Ending June 30, Residential Non-Residential Total
2019 38,058 6,206 44,264
2020 38,320 6,246 44,566
2021 38,587 6,294 44,881
2022 38,572 6,409 44,981
2023 38,706 6,402 45,108
Source: Utility Billing System Marketing Report of Quarterly NAICS Usage.

The total number of electric system customer accounts increased 1.8 percent during the last five years.

Packet Pg. 548 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 253

HISTORY AND STATEMENT OF PHYSCAL CONDITION OF

STORM DRAINAGE UTILITY SYSTEM ASSETS
History
The City Council established the Storm Drainage Utility on September 21, 1993. The utility is part of the Public Works Department. Responsibilities include monitoring, maintaining, and cleaning the storm drainage networks of the City.

Service Area and Customers
The service area encompasses storm drainage facilities within the City limits. The overall conveyance system is comprised of both public and private segments. The Storm Drain Utility responds to the needs of the public component of the overall conveyance system. The following table provides an overview of the storm drainage system as of June 30, 2023:

Workload and Performance Measures 2018-19 2019-20 2020-21 2021-22 2022-23 Miles of Storm Drain Pipe 186 191 191 191 198
Miles of Channels/Ditches 200 200 200 200 200
Miles of Maintained Channels/Ditches 17 17 17 17 17
Number of Inlets 6,648 6,747 6,784 6,745 6750
Number of Outfalls 1,332 1,341 1,337 1,337 1360
The Storm Drainage Utility charges are based on impervious area. An impervious area is one that prohibits the natural drainage of rainwater into the ground (i.e., building, parking lot, etc.). Effective February 4, 2014, the City directed the Shasta County Auditor-Controller to collect the Storm Drain service charges. Storm Drain service fees have been frozen since 1993. The annual fees are as follows:

Commercial $19.07 per impervious acre x 12
Multi-family/Mobile Home $9.96 per unit
Residential $15.84 per household
Condition of System
The City of Redding maintains a well-trained and well-equipped work force with very limited funding. The Storm Drain Utility’s primary function is to operate the Storm Drainage system to prevent flooding, make systematic inspections as part of the preventive maintenance program, and plan and construct replacements.

The City of Redding completed a Citywide Master Storm Drain Study in October 1993. A new Operations and Maintenance Plan was prepared in 2003, along with a project update of the 1993 Master Plan, which included a survey of the storm drain system. In 2015, City Council gave direction to proceed with an update to the Citywide Master Storm Drain Study.

Packet Pg. 549 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 254
The Statewide NPDES Phase II Small MS4 (municipal separate storm sewer system) permit became effective July 1, 2013, with a five-year implementation schedule of increased activities. A trash provision amendment to the statewide permit was approved in April 2015. While the prevention of trash entering the waterways has multiple benefits, the realities of capturing all trash as small as 5mm in high priority areas (high density residential, industrial, commercial, mixed urban and public transportation stations) will prove to be challenging.

The City has a consultant providing recommendations for compliance with the Trash Amendment.

Packet Pg. 550 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 255

HISTORY AND STATEMENT OF PHYSICAL CONDITION OF

WASTEWATER UTILITY SYSTEM
History
The City began construction of the Wastewater System soon after its incorporation in 1887. The Wastewater System developed slowly until the early 1950s, at which time approximately 20 percent of the City’s approximate 5,200 acres were served. Recognizing the need for a systematic expansion of the Wastewater System, in 1956, the City commissioned the development of a master plan for the City to follow in making necessary improvements. As a result of this plan, which was updated in 1964, the City added approximately 27 miles of sewer lines, primarily as a result of a series of sewer assessment districts, and in 1966 relocated its wastewater treatment plant from a location near the Cypress Avenue Bridge, to the present Clear Creek site, approximately

5.5 miles to the south.

Over the succeeding ten years, various districts including the Buckeye Community Water District, the Cascade Community Services District, and the Enterprise Public Utilities District, were annexed to the City. This resulted in the elimination of the existing treatment plants of these districts and consolidated the wastewater treatment and disposal at the City’s Clear Creek Regional Wastewater Treatment Plant (described below). To maintain compliance with the Clean Water Act, the Clear Creek Plant was expanded and upgraded to an advanced secondary wastewater treatment plant in 1979. Throughout the years, the plant has undergone process upgrades and expansions with the most recent starting in 2006.

In 1983, the City, Shasta County, and Shasta Dam Area Public Utility District (the “Shasta Dam PUD”) commissioned Ott Water Engineers to prepare a regional sewage study of the Central Shasta County area. It was determined that the Clear Creek Wastewater Treatment Plant was operating at two-thirds of its capacity and the Shasta Dam PUD was operating essentially at its capacity. Additionally, significant growth for this area was projected. As a result of this study and analysis of various alternatives, it was determined that an additional wastewater treatment plant on the east side of the City near Stillwater Creek and the Sacramento River would be constructed and that the Clear Creek Wastewater Treatment Plant would continue operation on the west side of the City. The advanced secondary Stillwater Regional Wastewater Treatment Plant was constructed near the confluence of Clover Creek and the Sacramento River and began operation in 1990.

Existing Facilities
The Wastewater System consists of the collection, treatment, and disposal facilities for domestic and industrial sewage serving the City. The system inventory includes over 440 miles of interceptor and trunk sewers, 18 sewage lift stations, and two tertiary treatment plants.

The 2022 Master Plan, completed by MCC Engineering has been completed including many capacity and maintenance-driven improvements. One such recommendation is to adopt a city wide ordinance to require inspection and repair of private lateral sewers in an effort to further reduce Inflow and Infiltration (I&I).

Clear Creek Wastewater Treatment Plant
The Clear Creek Wastewater Treatment Plant is located at the confluence of Clear Creek and the Sacramento River. The plant has a dry weather daily flow capacity of 9.4 million gallons per day (MGD) and a peak day flow capacity of 40 MGD. The unit processes utilized at the plant include, among other things, the Clear Creek Lift Station, with an estimated effective pump capacity of 40 MGD, primary and secondary clarification, gravity filtration, chlorination for disinfection and sulfonation for dechlorination prior to discharge into the Sacramento River outfall via a new diffuser system. In addition, a series of eight flow equalization ponds provide raw sewage and/or primary effluent temporary flow storage should the influent flow exceed the capacity of the secondary treatment and filtration processes. Solids handling process include primary and secondary waste sludge streams being mixed, thickened and anaerobically digested. Additional solids treatment can take place in facultative Packet Pg. 551 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 256
sludge lagoons. A new Biosolids Handling Facility recently completed construction and is now in operation. This facility was designed for future centralization of biosolids for both Wastewater Treatment Plants. In 2005, the City Council had authorized modifications to the Clear Creek Plant at an estimated cost exceeding $80 million.

The upgrades were constructed in the following seven Bid Packages:
 Bid Package I began construction in the fall of 2006
 Bid Package II began construction in the fall of 2007  Bid Package III began construction in the spring of 2008  Bid Package IV began construction in the fall of 2008  Bid Package V began construction in the summer of 2011  Bid Package VI began construction in the winter of 2010  Bid Package VII began construction in the fall of 2012 and was completed in the spring of 2014 The plant expansion and upgrades were funded by a combination of low interest loans from the State of California Revolving Loan Fund and ARRA Stimulus grant funds, with repayment through a combination of new connection fee revenue and monthly service charges.

The 2022 Facility Plan, completed by Jacobs Engineering has been completed with various improvements recommended, including influent pump station screening and the potential for a PFAS removal treatment.

Recently, gaseous chlorine and sulfur dioxide have become volatile markets and have the potential to be in short supply. In response, plant staff is making provisions for a redundant dechlorination process utilizing liquid sodium bisulfite, which will in turn replace the gaseous sulfur dioxide dichlorination system. Soon to follow will be the redundant chlorination process utilizing sodium hypochlorite, replacing the gaseous chlorine dosing system.

A biosolids biodrying and pyrolysis system will be online in 2023 to eliminate landfill disposal of biosolids.

Stillwater Regional Wastewater Treatment Plant
The Stillwater Regional Wastewater Treatment Plant is located on an approximately 300-acre site along Airport Road at the Sacramento River. The plant is designed for an average dry weather flow of 3.4 MGD and a peak wet weather flow of 14.4 MGD.

A facilities plan was prepared in 2008 for expansion of the plant in stages to treat an average dry weather flow capacity to 8 MGD and a peak wet weather flow capacity to 24 MGD. The first plant expansion project (Phase 1 A/B) began construction in the spring of 2012, and was completed in the spring of 2014. This plant expansion was funded by Wastewater Utility funds, and a loan from the State of California Revolving Loan Fund, with repayment through a combination of new connection fee revenue and monthly service charges.

The 2022 Facility Plan, completed by Waterworks Engineering has been completed with various improvements recommended, including the installation of Facultative Sludge Lagoons and drying beds. Recently, gaseous chlorine and sulfur dioxide have become volatile markets and have the potential to be in short supply. In response, plant staff is making provisions for a redundant dechlorination process utilizing liquid sodium bisulfite, which will in turn replace the gaseous sulfur dioxide dichlorination system. Soon to follow will be the redundant chlorination process utilizing sodium hypochlorite, replacing the gaseous chlorine dosing system.

Environmental Compliance
The discharge requirements for the wastewater system are established by the State of California Water Resources Control Board, Central Valley Region (the “Regional Board”) which administers and enforces all Federal and State of California discharge requirements. The Regional Board administers regulations promulgated under the National Pollutant Discharge Elimination System (NPDES) by the United States Environmental Protection Packet Pg. 552 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 257
Agency (the “EPA”). The Clear Creek Wastewater System’s present discharge permit was adopted in 2022. The Stillwater Wastewater system permit was adopted in 2018 and is in the process of renewal for 2023.

The City is responsible for satisfying these Federal and State-mandated discharge requirements. The requirements include provisions requiring the City to comply with all pretreatment requirements contained in the Federal Water Pollution Control Act. The City has an approved pretreatment program that includes local limits for priority pollutants along with inspection and permitting of industrial discharges.

In general, plant performance has consistently met discharge requirements, and any instances of noncompliance have been isolated incidents that have not reoccurred.

Service Area
The service area of the wastewater system is primarily the City, but includes small-unincorporated areas in the county. The service area lies entirely within the City’s sphere of influence.

Historical Operations
The following table shows the historical number of residential customer household equivalents and the combined commercial and industrial customer household equivalents for the five fiscal years ending June 30, 2023. One household equivalent (HE) is the quantity of wastewater produced in the City of Redding by an average singlefamily residential household, which is 240 gallons per day (GPD). Since customer fees and charges are based on the HE for each customer, the revenue amounts are proportional to these HE counts.

Historical Residential and Commercial/Industrial Household Equivalents 2018-19 2019-20 2020-21 2021-22 2022-23
Residential HEs 32,410 32,526 32,904 33,078 33,140
Commercial/Industrial HEs 11,140 10,588 10,894 11,132 10,171 Total System HEs 43,550 43,114 43,798 44,210 43,674
Annual System Growth >1.0% (1%) 1.6% 1.0% 1.0%
*Incorrect number provided by Vertex
Strikeout represents correction in previously reported data.

The wastewater system currently has an average dry weather daily design flow capacity of 12.8 MGD. The actual average dry weather daily flow (months of July, August, and September) of the wastewater system for the five fiscal years ending June 30, 2023, is shown below.

Average Dry Weather Daily Flows--Fiscal Years Ended June 30, 2023 2018-19 2019-20 2020-21 2021-22 2022-23
Clear Creek Plant 5.9 6.3 6.1 5.9 6.1
Stillwater Plant 2.3 2.5 2.4 2.2 2.16
Total Wastewater System 8.2 8.8 8.5 8.1 8.26
Strikeout represents correction in previously reported data.

Packet Pg. 553 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 258

HISTORY AND STATEMENT OF PHYSICAL CONDITION OF

WATER UTILITY SYSTEM
History
The Redding water supply and treatment facilities date back to the early 1900s. The raw water supply pump station on the Sacramento River was built in stages beginning in 1939.

The City's rights to water from the Sacramento River stem from the 1941 acquisition of the local facilities of the California Water Service Company, together with its water rights, which date from 1886 and from a license to appropriate 5 cfs, issued in 1944.

Since 1939, when the City of Redding assumed control and operation of the water system, the City's population has grown from approximately 7,500 to 90,600. This growth includes two large increases in 1976 and 1977, when Redding annexed the Cascade Community Services District (serving approximately 4,450 residents) and the Enterprise Public Utility District (serving approximately 13,500 residents). Additionally, in 1967, the City assumed operation of the Buckeye County Water District serving about 1,500 residents outside the City limits.

A 1966 contract with the United States Bureau of Reclamation (USBR or Bureau) was renegotiated in June 2005, with the USBR extending the contract for an additional 40 years through March 31, 2045. It details Redding's principal rights to the Sacramento River. The “Redding Contract” permits renegotiation at any time for more or less water subject to need and availability of water in the river. Water to be diverted consists of "base" and "project water" supplies. The Base Supply is 85 percent of the total, with Project Water being the remaining 15 percent of the total river water supply. The total entitlement is 21,000 acre-feet. Due to Pre-1914 water rights, our Base Water has no charge. Water charges in 2022/23 per acre-foot for Project Water under this contract total $57.21 ($34.60 water cost, $22.46 restoration charge and $0.15 Trinity PUD fee).

These entitlements were subject to renegotiation by mutual agreement in 1985, as they were in 1975 when no change occurred, and the annual entitlement is subject to reduction in "Critical Water Years." In 1992, 2007, 2014, 2015, 2020, and 2021 the Bureau decreased the Redding contract supply entitlement by 25 percent. In 2022, a critical water year in the drought, the water allotment was reduced to an unprecedented 18 percent.

In 1967, the City of Redding took over Buckeye County Water District facilities and the rights to a 1964 USBR contract. In February 1971, the City executed a new USBR contract to serve the Buckeye service area. In November 1994, the City amended this contract with the Bureau to add the Spring Creek Conduit as a point of diversion for the new Buckeye Water Treatment Plant. The “Buckeye Contract” annual entitlement is also subject to reduction in "Critical Water Years." In 1992, 2008, 2009, 2012, 2020 and 2021 the Bureau decreased the Buckeye Contract supply entitlement by 25 percent and in 2014, the contract entitlement was decreased by 50 percent. In 2015, the contract entitlement was decreased by 75 percent. In the 2022 critical water year, the Buckeye Contract entitlement was decreased to zero. This contract with the Bureau of Reclamation, which runs through February 28, 2045, provides Redding with 6,110 acre-feet of water per year. Prior to 2022, the contract amount was 6,140 acre-feet, but 30 acre-feet was relegated to the City of Shasta Lake to serve customers in the “Summit City” pressure zone. Water charges under the 2022/23 contract total approximately $112.23 per acrefoot ($29.14 average water cost, $22.46 restoration, $0.15 Trinity PUD fee and a $60.48 foregone power charge per acre-foot). Despite the cutbacks in previous years, the City's water supply was sufficient to meet its needs.

The Foothill Water Treatment Plant was constructed in 1981. The plant has a rated capacity of 28 million gallons per day (MGD). Facilities provide for online filtration following the existing sedimentation basin and a 6 million gallon (MG) covered storage reservoir. Both these additions were needed to meet the requirements of the State of California, Department of Public Health, Division of Drinking Water, and Environmental Management.

Packet Pg. 554 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 259
Performance Measures and Workload Indicators
The Water Utility Staff has met the established goals, with the majority of the workload objectives being accomplished:

ACTIVITY 2018-19 2019-20 2020-21 2021-22 2022-23
Number of customers/services 29,751 29,905 30,250 30,427 30,649 Number of new meter sets 106 136 188 104 223
Quantity of water produced
(acre feet) 24,053 25,337 26,897 23,846 20,875
Percentage of days water quality met
standards 100% 100% 100% 100% 100%
Number of service calls
(Includes water quality) 4,633 4,225 4,143 3,063 3,799
Miles of water mains 559 560 566 564 560
Number of main and water service
failures/disruptions per year 90 62 229 219 263
Miles of substandard mains 42 42 42 42 42
Customers/service connections per
employee 1,026 1,031 1,031 1,049 1,022
Current System
Buckeye Zone
The Buckeye Water District water system was acquired by the City of Redding in 1967 following dissolution of that District. Water supply for that District was extremely limited. Upon assuming the operation of the Buckeye system, the City of Redding provided the additional supply by pumping from the northern end of its water system.

Pump House No. 3, located at the foot of North Market Street hill, and Pump House No. 4, off Benton Drive northeast of the Diestlehorst Bridge, serve the Buckeye Zone. Storage for the Buckeye Zone is located off Lake Boulevard, outside the City limits, near Walker Mine Road. Two steel reservoirs exist at this site--one 200,000- gallon tank and one 2 MG tank with an overflow elevation of 955 feet above mean sea level (msl). In 2002, an additional 4 MG reservoir was constructed ¼ mile east of the Buckeye Water Treatment Plant with an overflow elevation of 1,034 feet msl.

The Buckeye Water Treatment Plant (BWTP), completed in January 1995, serves the Buckeye Zone. The BWTP is located in unincorporated Shasta County, off Benson Drive, north of Rock Creek Road. The water plant has an interconnection to the USBR Spring Creek Conduit. Treated water is conveyed from the treatment plant through five miles of transmission main to the Buckeye area. The initial treatment capacity was 7 MGD with the ability to expand to 28 MGD capacity. In 2007, construction was completed on an expansion of the treatment plant to 14 MGD capacity. Along with the treatment plant expansion, 8,000 feet of 30-inch water transmission main was installed to provide treated water to the Buckeye Pressure Zone. This treatment plant meets all the existing United States Environmental Protection Agency (USEPA) regulations, including the 1986 & 1996 Safe Water Drinking Act amendments. The treatment plant also meets all the requirements of the California State Water Resources Control Board, Division of Drinking Water, and Environmental Management. (State regulatory Packet Pg. 555 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 260
authority was transferred from the California Department of Public Health to the California State Water Resources Control Board during the summer 2014.)
Foothill and Hill 900 Zones
Construction of Redding’s Foothill Water Treatment Plant (FWTP) was completed in September 1981. The treatment plant consists of pre-chlorination and chemical treatment followed by filtration and post-chlorination.

River water from Pump House No. 1, located on the south side of the Sacramento River, west of the Diestlehorst Bridge, enters the treatment plant through a 36-inch main. In 2006, Pump Station No. 1 Fish Screen Retrofit Project was completed to meet the requirements of the CAL-FED Anadromous Fish Screen Program. In 2010, an additional 30-inch main from Pump House No. 1 was installed to the FWTP.

At the FWTP, chlorine is added for disinfection and odor control. Water then flows through dual media filtration and is post-chlorinated prior to entering a 6 MG covered storage reservoir.

Finished water storage for water produced at FWTP is provided as follows:

1. One 6 MG covered storage reservoir at the treatment plant, and one 4 MG steel reservoir at Foothill Blvd, each with an overflow elevation of 743 feet msl.

2. One 2 MG pre-stressed concrete reservoir and one 2 MG steel reservoir having an overflow elevation of 925 feet msl near the FWTP at the top of Hill 900.

The Foothill Zone is served by gravity flow from the Foothill reservoirs. The Hill 900 Zone is served by Pump House No. 2, which is located at the treatment plant and is taking suction from the 48-inch main served by the 6 MG reservoir. An additional booster pump was added to the El Reno booster pump station in 1995. This supply is an additional 1.4 MGD to the southern end of the Hill 900 Zone from the Cascade Zone, if necessary.

Enterprise Zone
In 1976, the Enterprise Public Utility District and the City of Redding voted to annex the Enterprise District to the City of Redding. Shortly after this, responsibility for the Enterprise water system was assumed by the City of Redding.

The system was served originally by five wells located over the Enterprise Sub-basin of the Redding Groundwater Basin. However, in 1978, the Cross Town Main, a large pipeline, was constructed which enabled the City to serve the Enterprise and Cascade areas with water from the FWTP. In 1985, approximately five miles of 12, 16, and 24-inch transmission mains were constructed from the Enterprise well fields on Goodwater Avenue to serve the U.S. Forest Service and Municipal Airport off Airport Road. In 1986, three 2 MGD capacity wells were added to the Enterprise Zone. In 1988, a 24-inch transmission main was constructed from Goodwater Avenue along Rancho Road westerly via South Bonnyview Road to the Cascade Zone. In 2002, 2.5 miles of 24-inch transmission main was constructed from Rancho Road north along Airport Road in the Enterprise Zone to maximize the production of the groundwater wells. In 1991, another 2 MGD capacity well was added to the Enterprise Zone. Two additional 2 MGD capacity wells were added during 2003. In 2007, another 2 MGD capacity well was added to the Enterprise Zone and in 2008, an additional 2 MGD capacity well was added.

Groundwater is treated with orthopolyphosphate for iron and manganese annoyances and chlorine is used for disinfection.

The main storage reservoirs are located above the Quail Ridge Subdivision off Canby Road. Two steel storage tanks are located at the same site, with a capacity of 3.5 and 6.0 MG and an overflow elevation of 706 feet msl.

During periods of peak demand, these tanks and the well field, at the southwestern boundary of the zone, and treated water from the FWTP through the Cross-Town water main, supply the entire system from three directions.

Packet Pg. 556 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023) 261
Hilltop-Dana Zone
The Hilltop-Dana pressure zone is located north of Highway 44 and east of Interstate 5 and is supplied from the Enterprise Zone by Pump Station No. 5, and the Buckeye Zone by gravity.

Cascade Zone
The supply source for this zone comprises five wells, located over the Anderson Sub-basin, with a maximum capacity of 0.75 MGD. This supply is augmented by connection to the south end of Redding's central system, and in 1978, the Cross-Town water main was completed. This supply can furnish up to 3.2 MGD to the Cascade area.

Additional supply is obtained by a large transmission main connecting the Cascade Zone to the Enterprise Zone via South Bonnyview Road. Originally, this supply furnished 2 MGD. In the summer 1995, a booster pump station was installed on the South Bonnyview transmission main to increase the supply to the Cascade Zone to 4.3 MGD.

In 1985, the City took over the operation of the Pinal Water Company serving the Westwood Manor Subdivision located off State Route 273 south. The subdivision is currently being supplied water from the FWTP through two 8-inch interconnections. Storage to the Cascade Zone is provided by a 1 MG tank located off Kenyon Drive and a 2 MG tank in the Redding Ranchettes area. Both tanks have an overflow elevation of 696 feet msl.

Condition of System
The City of Redding maintains a well-trained and well-equipped work force. Its primary function is to operate the system, make systematic inspections as part of the preventive maintenance program, and plan and construct replacements. Undersized and old lines are being replaced when maintenance costs indicate that they should be replaced or additional capacities are needed. The City of Redding maintains a Water Master Plan, most recently updated in 2023; revisions to the system are programmed, designed, and installed in accordance with this plan.

The system is well-maintained in all regards, including raw water supply, pumping structures, equipment, transmission lines, and water treatment facilities. However, continual renewed investment in capital facilities such as distribution pipelines, reservoirs, and wells will be necessary to maintain the current level of service, due to the demands of population growth and aging infrastructure.

Packet Pg. 557 Attachment: ACFR FY End June 30, 2023 (9.10(a)--Annual Comprehensive Financial Report-year ended June 30, 2023)

CITY OF REDDING

REPORT TO THE CITY COUNCIL
Recommendation
Adopt Resolution, effective January 21, 2024, creating a new classification titled Public Works Manager - Financial and amending the Executive Management Pay-for-Performance Salary Plan to add the new classification.

Fiscal Impact
There will be no immediate fiscal impact for revising the salary schedule to add the newly created classification.

Alternative Action
City Council could decline to approve the resolution, and provide staff with alternative direction.

Not approving the new classification may further limit the City’s ability to accurately identify, evaluate and recommend various financial strategies based on short, intermediate and long-term economic and financial trends or forecasts.

Background/Analysis
The requested classification “Public Works Manager – Financial” would report directly to the Public Works Director and provide departmental support in the areas of utility rate structures, various development impact fees, budget preparation and monitoring as well long-term financial planning in alignment with various Public Works and City of Redding guidance documents such as the Capital Improvement Plan, General Plan, Downtown Specific Plan, specific utility master plans, etc. The classification is needed to provide the Public Works department with executive management level support in the identification, evaluation, and recommendation of financial strategies to support department goals.

MEETING DATE: January 16, 2024
ITEM NO. 9.15(a)
FROM:
***APPROVED BY***
[email protected] [email protected]
SUBJECT: 9.15(a) -- Consider Resolution creating a new classification titled Public Works Manager - Financial and amending the Executive Management Pay-for-Performance Salary Plan to add the new classification.

Kari Kibler, Personnel
Director
Packet Pg. 558
Report to Redding City Council January 11, 2024
Re: 9.15(a)--Resolution to Add PW Manager - Financial Page 2 Pursuant to City Council Policy No. 207, the Public Works Director will work with the City Manager to fill the Public Works Manager – Financial position.

Environmental Review
This is not a project defined under the California Environmental Quality Act, and no further action is required.

Council Priority/City Manager Goals
• Government of the 21st Century – “Be relevant and proactive to the opportunities and challenges of today’s residents and workforce. Anticipate the future to make better decisions today.”
Attachments
^Resolution
^Executive Management PFP Salary Plan effective January 21, 2024 ^Executive Management PFP Salary Plan effective September 1, 2024 Class Specification - Public Works Manager - Financial (proposed) City Council Policy 207 - Position
Packet Pg. 559
RESOLUTION NO. 2024-____

A RESOLUTION OF THE CITY OF REDDING AMENDING THE EXECUTIVE

MANGEMENT PAY FOR PERFORMANCE SALARY PLAN AND ADOPTING

NEWLY CREATED CLASSIFICATION SPECIFICATION TITLED PUBLIC WORKS MANAGER - FINANCIAL, EFFECTIVE JANUARY 21, 2024
WHEREAS, staff has recommended the creation of a new classification titled Public Works Manager - Financial, effective January 21, 2024; and
WHEREAS, the classification of Public Works Manager - Financial will provide departmental support in the areas of utility rate structures, various development impact fees, budget preparation and monitoring as well long-term financial planning in alignment with various Public Works and City of Redding guidance documents such as the Capital Improvement Plan, General Plan, Downtown Specific Plan, specific utility master plans, etc.; and WHEREAS, the City Council finds its best interests will be served by utilizing a Public Works Manager - Financial; and
WHEREAS, staff has recommended that the Executive Management Pay for Performance Salary Plan be amended to add the classification of Public Works Manager - Financial, effective January 21, 2024;
NOW, THEREFORE, BE IT RESOLVED, by the City Council that the classification specification titled Public Works Manager - Financial be adopted and the Executive Management Pay for Performance Salary Plan be amended, effective January 21, 2024.

I HEREBY CERTIFY that the foregoing resolution was introduced and adopted at a regular meeting of the City Council of the City of Redding on the 16 th day of January, 2024, by the
following vote:

AYES: COUNCIL MEMBERS:

NOES: COUNCIL MEMBERS:

ABSENT: COUNCIL MEMBERS:

ABSTAIN: COUNCIL MEMBERS:

TENESSA AUDETTE, Mayor
ATTEST: FORM APPROVED:

SHARLENE TIPTON, City Clerk NATALIA K. EBERSOLE,
Interim City Attorney
Packet Pg. 560 Attachment: ^Resolution (9.15(a)--Resolution to Add PW Manager - Financial) Job Code Title
96 City Clerk (Elected Official) $600
97 City Treasurer (Elected Official) $600
30 Director of Electric Utility $20,026 – $26,035
31 Assistant Director of Electric Utility $18,206 – $23,669 35 Chief of Police $17,611 – $22,895
61 Electric Manager - Energy Management $16,551 – $21,517 84 Electric Manager - Engineering $16,220 – $21,087
83 Electric Manager - Operations $16,220 – $21,087
66 Compliance Officer $16,220 – $21,087
94 Chief Information Officer $15,612 – $20,296
40 Fire Chief $15,147 – $19,692
88 Electric Program Supervisor - Energy Management $15,046 – $19,561 76 Electric Manager - Power Production $14,807 – $19,250 62 Electric Program Supervisor - Transmission & Distribution $14,746 – $19,170 77 Electric Manager - Line $14,722 – $19,139
12 Assistant City Manager $14,631 – $19,022
63 Electric Manager - Customer Services and Metering $14,193 – $18,451 69 Electric Manager - Financial $14,193 – $18,451
86 Electric Manager - Resources $14,192 – $18,451
67 Electric Manager - Technology $14,192 – $18,451
20 Director of Public Works $13,935 – $18,116
42 Deputy Fire Chief $13,770 – $17,902
59 Electric Program Supervisor - Power Production $13,461 – $17,500 52 Director of Community Services $12,268 – $15,950
43 Director of Development Services $12,268 – $15,950
87 Electrical Engineering Supervisor $12,267 – $15,948
78 Electric Program Supervisor - Line $12,267 – $15,948 41 Electric Program Supervisor - Meter Shop $12,267 – $15,948 80 Electric Program Supervisor - Substations $12,267 – $15,948 64 Director of Finance $12,201 – $15,862
18 Deputy City Manager $12,176 – $15,830
58 Electric Program Supervisor - Operational Technology $11,991 – $15,589 134 Assistant City Attorney II $11,776 – $15,310
81 Electric Manager $11,754 – $15,281
54 Cyber Security Officer $11,254 – $14,631
82 Electric Program Supervisor $11,195 – $14,554
276 Electric Program Supervisor - Compliance $11,195 – $14,554 274 Electric Program Supervisor - Customer Programs $11,195 – $14,554 275 Electric Program Supervisor - Customer Service $11,195 – $14,554 278 Electric Program Supervisor - Financial Services $11,195 – $14,554 89 Electric Program Supervisor - Service Planning $11,195 – $14,554 277 Electric Program Supervisor - Settlements $11,195 – $14,554 273 Electric Program Supervisor - Vegetation Management $11,195 – $14,554 260 Electric Utility Senior Resource Planner $11,195 – $14,554

CITY OF REDDING

EXECUTIVE MANAGEMENT PAY-FOR-PERFORMANCE SALARY PLAN
Effective: January 21, 2024
Monthly Salary Range

NO RANGE

NO RANGE
Packet Pg. 561 Attachment: ^Executive Management PFP Salary Plan effective January 21, 2024 (9.15(a)--Resolution to Add PW Manager - Financial) Job Code Title Monthly Salary Range
65 Personnel Director $11,194 – $14,552
106 Assistant Director of Public Works $11,107 – $14,440 112 Assistant City Engineer $10,912 – $14,186
192 Electric Utility Operational Technology Engineer $10,901 – $14,172 108 Electrical Engineer $10,882 – $14,147
155 Electric Utility Senior Project Engineer $10,882 – $14,147 68 Operations/Compliance Engineer $10,882 – $14,147
262 Power Plant Engineer II $10,882 – $14,147
135 Assistant City Attorney I $10,665 – $13,865
71 Assistant Director of Development Services/Building Official $10,656 – $13,853 138 Planning/Community Development Manager $10,364 – $13,473 93 Deputy Director of Public Works $10,180 – $13,235
60 Finance Officer $10,179 – $13,233
116 Electric Utility Resource Planner $10,177 – $13,231 110 Electric Utility Engineer $9,893 – $12,861
261 Power Plant Engineer I $9,893 – $12,861
50 Assistant Director - Community Services $9,790 – $12,727 182 Geographic Information Systems Manager $9,726 – $12,645 252 Municipal Utilities Manager $9,694 – $12,603
202 Transit Manager $9,454 – $12,475
103 Housing Manager $9,430 – $12,259
127 Building Official $9,261 – $12,039
72 Environmental Compliance Manager $9,148 – $11,893
95 Personnel Manager $9,006 – $11,708
90 Risk Manager $9,006 – $11,708
249 Field Foreman-Electrical Technician $8,927 – $11,606 151 Deputy City Attorney $8,925 – $11,603
75 Airports Manager $8,839 – $11,491
24 Public Works Manager - Financial $8,654 – $11,250
153 Deputy Building Official $8,555 – $11,122
195 Electric Utility Associate Resource Planner $8,480 – $11,025 105 Assistant Finance Officer $8,477 – $11,020
121 Electric Utility Engineering Associate $8,342 – $10,845 98 Administrator - Office of City Clerk $8,176 – $10,629 99 Administrator - Office of City Treasurer $8,176 – $10,629 131 Economic Development, Innovation and Equity Manager $8,048 – $10,463 92 Parks & Facilities Manager $7,745 – $10,068
51 Communication Manager $7,714 – $10,028
107 Energy Services Account Manager $7,653 – $9,949
136 Electric Utility Engineering Assistant II $7,584 – $9,859 130 Fleet Manager $7,506 – $9,759
56 Senior Personnel Analyst $7,489 – $9,736
Packet Pg. 562 Attachment: ^Executive Management PFP Salary Plan effective January 21, 2024 (9.15(a)--Resolution to Add PW Manager - Financial) Job Code Title
209 Assistant Airports Manager $7,368 – $9,579
166 Purchasing Officer $7,053 – $9,169
150 Electric Utility Engineering Assistant I $6,894 – $8,963 113 Electric Utility Field Foreman $5,362 – $8,851
175 Management Assistant to the City Manager $6,807 – $8,849 185 Police Services Manager $6,520 – $8,477
165 Parks Superintendent $6,444 – $8,378
169 Recreation Superintendent $6,444 – $8,378
245 Executive Assistant to the City Manager $5,780 – $7,514 109 Reprographics Manager $5,780 – $7,514
Monthly Salary Range
Packet Pg. 563 Attachment: ^Executive Management PFP Salary Plan effective January 21, 2024 (9.15(a)--Resolution to Add PW Manager - Financial) Job Code Title
96 City Clerk (Elected Official) $600
97 City Treasurer (Elected Official) $600
30 Director of Electric Utility $21,028 – $27,337
31 Assistant Director of Electric Utility $19,116 – $24,852 35 Chief of Police $18,492 – $24,040
61 Electric Manager - Energy Management $17,378 – $22,593 84 Electric Manager - Engineering $17,031 – $22,141
83 Electric Manager - Operations $17,031 – $22,141
66 Compliance Officer $17,031 – $22,141
94 Chief Information Officer $16,236 – $21,108
88 Electric Program Supervisor - Energy Management $15,798 – $20,539 40 Fire Chief $15,753 – $20,480
76 Electric Manager - Power Production $15,549 – $20,214 62 Electric Program Supervisor - Transmission & Distribution $15,483 – $20,129 12 Assistant City Manager $15,363 – $19,973
77 Electric Manager - Line $15,310 – $19,904
63 Electric Manager - Customer Services and Metering $14,760 – $19,189 69 Electric Manager - Financial $14,760 – $19,189
86 Electric Manager - Resources $14,760 – $19,189
67 Electric Manager - Technology $14,760 – $19,189
42 Deputy Fire Chief $14,321 – $18,618
20 Director of Public Works $14,144 – $18,387
59 Electric Program Supervisor - Power Production $14,135 – $18,376 52 Director of Community Services $12,882 – $16,747
43 Director of Development Services $12,882 – $16,747
64 Director of Finance $12,811 – $16,655
18 Deputy City Manager $12,785 – $16,622
87 Electrical Engineering Supervisor $12,758 – $16,586
78 Electric Program Supervisor - Line $12,758 – $16,586 41 Electric Program Supervisor - Meter Shop $12,758 – $16,586 80 Electric Program Supervisor - Substations $12,758 – $16,586 58 Electric Program Supervisor - Operational Technology $12,471 – $16,213 81 Electric Manager $12,225 – $15,893
134 Assistant City Attorney II $12,129 – $15,769
112 Assistant City Engineer $11,784 – $15,320
54 Cyber Security Officer $11,704 – $15,216
106 Assistant Director of Public Works $11,663 – $15,162 82 Electric Program Supervisor $11,643 – $15,136
276 Electric Program Supervisor - Compliance $11,643 – $15,136 274 Electric Program Supervisor - Customer Programs $11,643 – $15,136 275 Electric Program Supervisor - Customer Service $11,643 – $15,136 278 Electric Program Supervisor - Financial Services $11,643 – $15,136 89 Electric Program Supervisor - Service Planning $11,643 – $15,136 277 Electric Program Supervisor - Settlements $11,643 – $15,136 273 Electric Program Supervisor - Vegetation Management $11,643 – $15,136 260 Electric Utility Senior Resource Planner $11,643 – $15,136

CITY OF REDDING

EXECUTIVE MANAGEMENT PAY-FOR-PERFORMANCE SALARY PLAN
Effective: September 1, 2024
Monthly Salary Range

NO RANGE

NO RANGE
Packet Pg. 564 Attachment: ^Executive Management PFP Salary Plan effective September 1, 2024 (9.15(a)--Resolution to Add PW Manager - Financial) Job Code Title Monthly Salary Range
65 Personnel Director $11,529 – $14,989
192 Electric Utility Operational Technology Engineer $11,337 – $14,739 108 Electrical Engineer $11,317 – $14,713
155 Electric Utility Senior Project Engineer $11,317 – $14,713 68 Operations/Compliance Engineer $11,317 – $14,713
262 Power Plant Engineer II $11,317 – $14,713
71 Assistant Director of Development Services/Building Official $11,189 – $14,546 135 Assistant City Attorney I $10,985 – $14,281
138 Planning/Community Development Manager $10,934 – $14,214 93 Deputy Director of Public Works $10,689 – $13,896
60 Finance Officer $10,688 – $13,895
116 Electric Utility Resource Planner $10,584 – $13,760 110 Electric Utility Engineer $10,288 – $13,375
261 Power Plant Engineer I $10,288 – $13,375
50 Assistant Director - Community Services $10,279 – $13,363 252 Municipal Utilities Manager $10,179 – $13,233
182 Geographic Information Systems Manager $10,115 – $13,150 103 Housing Manager $9,900 – $12,871
202 Transit Manager $9,454 – $12,849
127 Building Official $9,724 – $12,641
72 Environmental Compliance Manager $9,423 – $12,250
249 Field Foreman-Electrical Technician $9,375 – $12,187 95 Personnel Manager $9,276 – $12,059
90 Risk Manager $9,276 – $12,059
151 Deputy City Attorney $9,193 – $11,951
75 Airports Manager $9,104 – $11,836
24 Public Works Manager - Financial $9,086 – $11,813
105 Assistant Finance Officer $8,900 – $11,571
153 Deputy Building Official $8,898 – $11,567
195 Electric Utility Associate Resource Planner $8,819 – $11,466 121 Electric Utility Engineering Associate $8,676 – $11,279 98 Administrator - Office of City Clerk $8,584 – $11,160 99 Administrator - Office of City Treasurer $8,421 – $10,948 131 Economic Development, Innovation and Equity Manager $8,289 – $10,777 51 Communication Manager $8,138 – $10,580
92 Parks & Facilities Manager $7,976 – $10,370
107 Energy Services Account Manager $7,959 – $10,347
136 Electric Utility Engineering Assistant II $7,887 – $10,254 130 Fleet Manager $7,882 – $10,247
56 Senior Personnel Analyst $7,714 – $10,028
209 Assistant Airports Manager $7,589 – $9,866
166 Purchasing Officer $7,264 – $9,444 Packet Pg. 565 Attachment: ^Executive Management PFP Salary Plan effective September 1, 2024 (9.15(a)--Resolution to Add PW Manager - Financial) Job Code Title
150 Electric Utility Engineering Assistant I $7,170 – $9,321 175 Management Assistant to the City Manager $7,147 – $9,291 113 Electric Utility Field Foreman $5,362 – $9,205
185 Police Services Manager $6,846 – $8,901
165 Parks Superintendent $6,735 – $8,755
169 Recreation Superintendent $6,735 – $8,755
245 Executive Assistant to the City Manager $6,069 – $7,890 109 Reprographics Manager $6,069 – $7,890
Monthly Salary Range
Packet Pg. 566 Attachment: ^Executive Management PFP Salary Plan effective September 1, 2024 (9.15(a)--Resolution to Add PW Manager - Financial) 24 CITY OF REDDING

PUBLIC WORKS MANAGER - FINANCIAL
DEFINITION:

Under the general direction of the Director of Public Works, and in coordination with other Departmental Managers, establish and monitor Public Works utility rate structures (solid waste, water and wastewater) as required by Proposition 218; assist in the establishment of, continually monitor and update as needed, the various development impact fees (traffic, fire, safety, etc.); establish department wide budgets and long-term financial plans that align with the objectives, goals and needs identified within the Department’s various master plans as well as the City’s Capital Improvement, General and Downtown Specific plans; monitor expenditures and schedules versus planned, identify trends, forecast final expenditures and completion dates and formulate recommendations as needed to bring forecasted final expenditures in line with budgeted amounts; evaluate project and portfolio level resource expenditures and schedules versus planned to ensure accurate and timely reimbursement of funds from the State of California and other funding providers (including private grantors); develop the financial and economic components of utility short, intermediate, and long-term forecasts of economic, interest rate, and financial market trends; assist in the development of future utility needs forecasts; manage the entire departmental budget development, tracking processes and interprets, forecasts, and reports Public Work’s operating results; represent both Public Work’s and the City’s financial interests externally with joint-action agencies, and others; oversee Public Work’s Risk Management functions, including review, monitoring, and reporting.

EXAMPLES OF DUTIES:

NOTE: The following are the duties performed by employees in this classification. However, employees may perform other associated duties. Duties listed are not necessarily performed by each individual in the classification.

1. Rate analysis: Develop and implement Public Works utility rate structures, ensuring rates are adequate to generate required revenue, are equitable across customer classes, and are competitive in the market place. Develop documentation for presenting rate design alternatives to the City Council and the general public.

Measures: The design of a general rate structure that assures sufficient revenue for successful operation of Public Works utilities (solid waste, water and wastewater).

Development of timely incentive rates and other programs that promote the City as a commerce center while helping keep the Department in good financial health with sufficient resources to meet all customers’ utility needs and regulatory requirements.

2. Develop utility usage forecasts for resource, rate, and financial planning purposes.

Measures: Consistent, reasonably accurate forecasts that help keep the Department in good financial health with sufficient resources to meet the customer’s Public Works utility needs.

3. Identify, evaluate and recommend various financial strategies for funding all departmental functions including Redding’s participation in joint-action agencies.

Packet Pg. 567 Attachment: Class Specification - Public Works Manager - Financial (proposed) (9.15(a)--Resolution to Add PW Manager - Financial) Measures: Recommendation of appropriate internal and strategic financial strategies.

4. Forecast short, intermediate, and long-term economic and financial trends pertaining to Public Works; prepare and present options for strategic planning and for management decision making; prepare and present graphical presentations of forecast and planning results for Public Works.

Measures: Accuracy of forecasts and achievement of desired results based upon recommended option; clear and concise presentations.

5. Department Budget Officer: Prepare annual Public Works operating budget and provide continuous monitoring of revenues, expenses, schedules and performance. Develop and present financial status reports for the Public Works Director and other Departmental Managers. Maintain continuous communications with the Department of Finance and other Departments as required. Review Finance Departments’ methodologies and findings and work collaboratively to reconcile discrepancies between Public Works, Finance and other department’s records.

Measures: Maintenance of a maximum level of consistency among department’s methodologies. Maintenance of Public Works budget within Council’s adopted limits.

6. Operational Risk Management: Develop and maintain operational risk management processes, procedures and key performance indicators. This includes establishing standards for risk identification, assessment, and communications.

Measures: Active participation in Risk committees. Operational risks are monitored, and appropriate mitigation efforts are recommended.

7. Current Economic Analysis: Monitor the current economic environment and anticipate future trends to position the Department to take advantage of favorable opportunities and ensure that revenues will be sufficient to support swings in operating expenses and potential future debt service.

Measures: Develop and recommend financial strategies that maximize the Department’s financial health and minimize debt service costs while also meeting required debt service coverage ratios and other bond and financial covenants.

8. Evaluate the economics and cost effectiveness of potential new technologies considered and/or to be implemented at Public Works facilities and assess the offsetting economic impact of energy-conservation measures.

Measures: Acceptance of Financial Manager’s evaluations and recommendations by the Public Works Director.

9. Monitor legislative and tax law changes that impact financial management of the Department; make appropriate recommendations to Public Works Director and other Department Managers.

Packet Pg. 568 Attachment: Class Specification - Public Works Manager - Financial (proposed) (9.15(a)--Resolution to Add PW Manager - Financial) Measures: Legislative and tax law changes are monitored, and appropriate recommendations for action or intervention are made.

10. Supervise, direct, lead and assign work assignments to subordinate staff.

Measures: Work is accomplished with emphasis on team work and collaboration.

11. Perform other associated duties as assigned.

QUALIFICATIONS:

Knowledge of:

Management, finance, and administration of Public Works including, but not limited to, utilities (solid waste, water and wastewater), development impact fees, capital delivery, etc.; external agency financial regulations that apply to Public Works activities (specifically Public Works), and administrative operations; professional competency in economic and financial forecasting; extensive knowledge of Public Works utility rate and development fee philosophy and design, financing, and financial regulatory processes; and the ability to work independently. Must have superior skills in the development and application of PC-based financial models and spread sheets.

Ability to:

Interact effectively with the public, City Council, City management and employees; conduct research, make complex calculations quickly and accurately, make accurate economic and financial forecasts; make clear and concise presentations on complex issues to a wide range of audiences; work closely with and provide policy recommendations to Director of Public Works and Department Managers; maintain effective work relationships with various internal and external groups and individuals; lead by example to enhance efficiency, productivity, and service to the customer; handle sensitive and confidential information appropriately; communicate effectively orally and in writing; manage financial matters as they relate to the Department’s issues; support and cooperate with other divisions and departments in the City; and select, supervise, train, and evaluate direct staff.

Education:

Any combination of training and experience that provides the required knowledge, skills, and abilities is qualifying; typical education would include a degree from an accredited college or university in Economics, Finance, Business, or related fields. An MBA or advanced certification, i.e., CPA/CMA/CFA is desired.

Experience:

Typical experience would include six years increasingly responsible experience in developing, analyzing, and presenting economic and financial data, and municipal financing and investing, with at least two years in a supervisory capacity.

Special Requirements:

Packet Pg. 569 Attachment: Class Specification - Public Works Manager - Financial (proposed) (9.15(a)--Resolution to Add PW Manager - Financial) Possession of a valid California driver’s license, or the ability the acquire one within ten days of appointment.

NEW 1/24
Packet Pg. 570 Attachment: Class Specification - Public Works Manager - Financial (proposed) (9.15(a)--Resolution to Add PW Manager - Financial)

CITY OF REDDING, CALIFORNIA
COUNCIL POLICY•

SUBJECT RESOLUTION POLICY EFFECTIVE PAGE

NUMBER NUMBER DATE
POSITION POLICY 90- 160 207 04/ 03/ 90 1

BACKGROUND
The Municipal Code grants certain administrative powers to the City Manager . With regard to positions , Section 2 . 08 . 060 , Duties , Paragraph B, states the City Manager has the following duties :

To employ , discipline or remove all head of departments and all subordinate officers and employees of the City, to transfer employees from one department to
another; and to consolidate or combine offices ,
positions , departments or units under his jurisdiction . " Under this section, the Municipal Code authorizes the City Manager to make adjustments to the positions of the City. In effect, this section grants this authority as part of the City Manager ' s Administrative duties , thus enabling routine adjustments to be made regarding the number of positions in the City, S
as well as to the classification assigned to a position. It also provides for the transfer of a position from one Department or Division to another. It does not, however , authorize the City Manager to establish a new position ( s) unless it is offset by a cancelled position or is the result of a consolidation of two or more positions .

Not specified in the Municipal Code , but included as part of the position policy, is the administrative authority granted to the City Manager to establish additional identical positions to provide for : 1 ) the hiring of a replacement employee prior to the separation of service of a current employee for transition purposes ; or 2) the continued performance of work assigned to an employee determined to be disabled and authorized to receive long term disability insurance benefits . Additional identical positions are identical or equivalent to the incumbent ' s position and are limited to: a) sixty (60) days unless otherwise authorized by the City Council for purpose 1) above; or b) the time frame a disabled employee fills a budgeted position of the City for purpose 2) above .

Amended on January 5 , 1993 by Resolution No. 93- 11

PURPOSE
To establish a Position Policy in accordance with the City of Redding Municipal Code , Section 2 . 08 . 060 , Paragraph B.

CR 0049
Packet Pg. 571 Attachment: City Council Policy 207 - Position (9.15(a)--Resolution to Add PW Manager - Financial)

CITY OF REDDING, CALIFORNIA

COUNCIL POLICY

SUBJECT RESOLUTION POLICY EFFECTIVE PAGE

NUMBER NUMBER DATE
POSITION POLICY 90- 160 207 04/ 03/ 90 2
POLICY
It is the policy of the City Council of the City of Redding :

THAT in accordance with the Municipal Code , Section
2 . 08 . 060 , paragraph B, the City Manager shall have the authority to administratively modify positions in the City of Redding as follows :
1 . To transfer positions from one Department or Division to another;
2 . To add/ cancel positions;
3 . To establish or change the classification assigned to a position;
4 . To establish additional identical positions for a replacement employee for up to sixty (60) days; 5 . To establish additional identical positions during the time frame a disabled employee fills a budgeted position; and 6 . To consolidate positions .

Amended on January 5 , 1993 by Resolution No. 93- 11
FURTHER, it is the policy of the City Council of the City of Redding:

THAT all position adjustments are subject to the availability of sufficient appropriations in the Budget to support the modification and that all administrative adjustments shall be reported to the City council on a quarterly basis .

PROCEDURE
Specific procedures to conform with the policy are provided in the City of Redding Personnel Manual .

C R 0049
Packet Pg. 572 Attachment: City Council Policy 207 - Position (9.15(a)--Resolution to Add PW Manager - Financial)

Redding City CouncilJanuary 16, 2024

Redding City Council
January 16, 2024