Sources: City of Richmond
State of California, Department of Finance (population) U.S. Department of commerce, Bureau of the Census (income) $-
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
$300,000,000
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
($ 000)
Total Governmental Total Business
273
CITY OF RICHMOND
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
JUNE 30, 2022
2021-2022 Assessed Valuation: $16,488,274,761
Total Debt City's Share of Debt
OVERLAPPING TAX AND ASSESSMENT DEBT: June 30, 2022 % Applicable (1) June 30, 2022 Bay Area Rapid Transit District $2,521,570,000 1.853% $46,724,692 Contra Costa Community College District 598,780,000 7.068% $42,321,770 West Contra Costa Unified School District 1,244,985,065 45.625% $568,024,436 West Contra Costa Healthcare District Parcel Tax Obligations 44,580,000 43.032% $19,183,666 East Bay Regional Park District 184,590,000 2.959% $5,462,018 City of Richmond Community Facilities District No. 1998-1 1,775,000 100% $1,775,000 City of Richmond 1915 Act Bonds 4,530,000 100% $4,530,000 California Statewide Community Development Authority 1915 Act Bonds 1,402,835 100% $1,402,835 TOTAL NET OVERLAPPING TAX AND ASSESSMENT DEBT 689,424,417 DIRECT AND OVERLAPPING GENERAL FUND DEBT:
Contra Costa County General Fund Obligations $224,500,000 7.045% 15,816,025 Alameda-Contra Costa Transit District Certificates of Participation 11,655,000 5.558% 647,785 West Contra Costa Unified School District Certificates of Participation 6,005,000 45.625% 2,739,781 City of Richmond General Fund Obligations 93,755,000 100% 93,755,000 City of Richmond Pension Obligations Bonds 55,326,745 100% 55,326,745 TOTAL DIRECT AND OVERLAPPING GENERAL FUND OBLIGATION DEBT 168,285,336 Less: Contra Costa County general fund obligations supported by revenue funds 4,417,748 City of Richmond obligations supported by port revenues 8,330,000 TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND OBLIGATION DEBT 155,537,588 OVERLAPPING TAX INCREMENT DEBT (Successor Agency) $43,387,925 100% 43,387,925 TOTAL GROSS DIRECT DEBT $149,081,745
TOTAL NET DIRECT DEBT $140,751,745
TOTAL GROSS OVERLAPPING DEBT $752,015,933
TOTAL NET OVERLAPPING DEBT $747,598,185
GROSS COMBINED TOTAL DEBT $901,097,678 (2)
NET COMBINED TOTAL DEBT $888,349,930
(1) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's total taxable assessed value. (2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations.
Ratios to 2020-21 Assessed Valuation:
Total Overlapping Tax and Assessment Debt 4.18%
Ratios to Adjusted Assessed Valuation:
Gross Total Direct Debt ($163,777,525) 0.90%
Net Total Direct Debt ($151,347,525) 0.85%
Gross Combined Total Debt 5.47%
Net Combined Total Debt 5.39%
Ratios to Redevelopment Successor Agency Incremental Valuation ($3,692,257,204):
Total Overlapping Tax Increment Debt 1.18%
____________________________
Source: California Municipal Statistics, Inc.
274
CITY OF RICHMOND
COMPUTATION OF LEGAL BONDED DEBT MARGIN
JUNE 30, 2022
ASSESSED VALUATION:
Secured property assessed value, net of
exempt real property 16,396,928,000 $
BONDED DEBT LIMIT (3.75% OF ASSESSED VALUE) (a) 614,884,800 $ AMOUNT OF DEBT SUBJECT TO LIMIT:
Total Bonded Debt -$
Less Tax Allocation Bonds and Sales Tax Revenue
Bonds, Certificate of Participation not subject to limit - Amount of debt subject to limit -
LEGAL BONDED DEBT MARGIN 614,884,800$
Total net debt
Total Net Debt Legal applicable to the limit
Fiscal Debt Applicable to Debt as a percentage
Year Limit Limit Margin of debt limit
2012 405,777,338$ -$ 405,777,338$ 0.00%
2013 474,620,025 - 474,620,025 0.00%
2014 368,446,575 - 368,446,575 0.00%
2015 440,390,400 - 440,390,400 0.00%
2016 480,061,088 - 480,061,088 0.00%
2017 507,715,613 - 507,715,613 0.00%
2018 528,071,513 - 528,071,513 0.00%
2019 571,313,100 - 571,313,100 0.00%
2020 588,625,125 - 588,625,125 0.00%
2021 613,927,575 - 613,927,575 0.00%
2022 614,884,800 - 614,884,800 0.00%
NOTE:
(a) California Government Code, Section 43605 sets the debt limit at 15%. The Code section was enacted prior to the change in basing assessed value to full market value when it was previously 25% of market value. Thus, the limit shown as 3.75% is one-fourth the limit to account for the adjustment of showing assessed valuation at full cash value.
275
CITY OF RICHMOND
REVENUE BOND COVERAGE
1999, 2006, 2008, 2010A, 2010B, 2017A, 2019A and 2019B WASTEWATER REVENUE BONDS
LAST TEN FISCAL YEARS
Debt Service Requirements
Net Revenue
Fiscal Gross Operating Available for
Year Revenue (1) Expenses (2) Debt Service Principal Interest Total Coverage 2013 17,840,042$ 9,447,236$ 8,392,806$ 1,005,000$ 4,613,635$ 5,618,635$ 1.49 2014 18,569,191 9,734,277 8,834,914 1,055,000 4,560,528 5,615,528 1.57 2015 19,098,835 9,524,878 9,573,957 2,115,000 4,536,302 6,651,302 1.44 2016 19,843,677 9,954,037 9,889,640 2,200,000 4,393,375 6,593,375 1.50 2017 20,880,739 10,831,250 10,049,489 2,295,000 4,344,233 6,639,233 1.51 2018 23,752,946 11,885,819 11,867,127 2,400,000 5,599,008 7,999,008 1.48 2019 29,993,700 10,647,739 19,345,961 35,240,000 5,286,578 40,526,578 0.48 2020 28,589,996 13,183,065 15,406,931 3,420,186 3,386,178 6,806,364 2.26 (3) 2021 27,876,716 12,214,607 15,662,109 2,515,000 5,633,851 8,148,851 1.92 2022 28,277,557 10,874,658 17,402,899 2,480,000 5,516,663 7,996,663 2.18 Notes: (1) Includes all Municipal Sewer Operating Reve nues and Non-operating Interest Revenue excluding Derivative Investment Interest.
(2) Includes all Municipal Sewer Operating Expenses less Depreciation and Pension and OPEB Expense related to GASB Statements 68 and 75.
(3) Includes the current refunding of the 2008A Wastewater Revenue Refunding Bonds Source: City of Richmond Annual Financial Statements
0.00 0.25
0.50 0.75
1.00 1.25
1.50 1.75
2.00 2.25
2.50 2.75
3.00 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Coverage
276
CITY OF RICHMOND
REVENUE BOND COVERAGE
1996, 1999, 2004, 2007 AND 2009 PORT TERMINAL LEASE REVENUE BONDS, NOTE
AND POINT POTRERO LEASE REVENUE BONDS
LAST TEN FISCAL YEARS
Debt Service Requirements
Net Revenue
Fiscal Gross Operating Available for
Year Revenue (1) Expenses (2) Debt Service Principal Interest Total Coverage 2013 9,138,193$ 2,964,060 $ 6,174,133 $ 525,000 $ 3,348,154 $ 3,873,154 $ 1.59 2014 10,280,894 3,189,866 7,091,028 2,955,000 3,255,221 6,210,221 1.14 2015 9,481,315 3,380,916 6,100,399 3,025,000 3,077,165 6,102,165 1.00 2016 10,081,074 4,533,796 5,547,278 2,723,455 2,869,343 5,592,798 0.99 2017 10,194,121 3,522,216 6,671,905 2,830,000 2,641,797 5,471,797 1.22 2018 10,633,233 4,450,592 6,182,641 3,065,000 2,393,977 5,458,977 1.13 2019 10,783,561 3,289,965 7,493,596 3,320,000 2,126,229 5,446,229 1.38 2020 10,511,283 2,972,218 7,539,065 12,390,731 2,141,506 14,532,237 0.52 2021 10,707,743 2,495,128 8,212,615 3,945,000 748,210 4,693,210 1.75 2022 11,193,765 2,442,047 8,751,718 4,100,000 587,679 4,687,679 1.87 Notes: (1) Includes all Port of Rich mond Operating Revenues and Non-operating Interest Revenue excluding Derivative Investment Interest.
(2) Includes all Port of Richmond Operating Expenses, less Depreciation and Pension and OPEB Expense related to GASB Statements 68 and 75.
Source: City of Richmond Annual Financial Statements
0.00 0.10
0.20 0.30
0.40 0.50
0.60 0.70
0.80 0.90
1.00 1.10
1.20 1.30
1.40 1.50
1.60 1.70
1.80 1.90
2.00 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Coverage
277
CITY OF RICHMOND
BONDED DEBT PLEDGED REVENUE COVERAGE
TAX ALLOCATION BONDS AND REFUNDING BONDS (1)
LAST TEN FISCAL YEARS
Debt Service Requirements
Fiscal Tax
Year Revenue Principal Interest Total Coverage
2013 16,320,481 (2) 6,565,000 5,754,825 12,319,825 1.32 2014 16,776,169 (2) 5,030,000 5,461,989 10,491,989 1.60 2015 17,206,306 (2) 2,930,000 4,500,409 7,430,409 2.32
2016 19,953,198 (2) 6,180,000 4,445,674 10,625,674 1.88 2017 14,156,746 (2) 6,395,000 4,653,678 11,048,678 1.28 2018 12,255,069 (2) 7,575,000 4,746,564 12,321,564 0.99 2019 10,714,239 (2) 7,895,000 4,662,021 12,557,021 0.85 2020 10,720,489 (2) 8,820,000 4,244,580 13,064,580 0.82 2021 12,927,768 (2) 12,949,294 4,128,651 17,077,945 0.76 2022 8,306,100 (2) 6,645,000 2,052,525 8,697,525 0.95
Note: (1) Includes the 1991, 1998, 2000, 2003, 2004, 2007, 2010 and 2014 Bonds. (2) Beginning in fiscal year 2012, tax increment reported in this table is the amount calculated by the County Auditor-Controller. Under the provisions of the laws dissolving the Redevelopment Agency, the Successor Agency only receives the funds necessary to fulfill its approved obligations Source: City of Richmond Annual Financial Statements
0 5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Tax Increment Revenue Debt Service Payment
278
CITY OF RICHMOND
GENERAL BONDED DEBT
PENSION OBLIGATION BONDS (1)
LAST TEN FISCAL YEARS
Ratio of General Net General
Restricted Net Bonded Debt to Net Bonded
Fiscal Bonds Cash and Bonds Net Assessed Assessed Value Debt per Year Outstanding Investments (2) Outstanding Value of Property of Property Capita 2013 156,483,676 7,054,942 149,428,734 11,098,301,000 1.35% 1,425 2014 157,555,624 8,089,647 149,465,977 8,230,209,000 1.82% 1,416 2015 156,491,679 8,148,121 148,343,558 9,943,913,000 1.49% 1,398 2016 155,070,539 8,936,523 146,134,016 10,745,818,000 1.36% 1,374 2017 153,058,033 9,777,863 143,280,170 11,290,341,000 1.27% 1,298 2018 150,485,289 9,844,431 140,640,858 11,514,846,000 1.22% 1,258 2019 147,275,826 10,041,550 137,234,276 12,342,193,000 1.11% 1,228 2020 144,339,640 11,315,256 133,024,384 12,521,376,000 1.06% 1,208 2021 140,816,305 11,845,153 128,971,152 13,196,108,000 0.98% 1,171 2022 136,976,078 12,779,202 124,196,876 13,221,634,000 0.94% 1,117 Note: (1) Includes the 1999 Bonds issued in fiscal year 2000, and the 2005 Bonds issued in fiscal year 2006. (2) Restricted cash is being held with the City's fiscal agent, Union Bank, and is restricted for the payment of the bonds.
Source: City of Richmond Annual Financial Statements
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
$1,100
$1,200
$1,300
$1,400
$1,500
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Series1
279
CITY OF RICHMOND
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN CALENDAR YEARS
Total Per Capita Contra Costa City
Calendar City Personal Personal Unemployment County Population Year Population Income Income Rate (%) Population % of County 2011 104,887 2,540,888,000 24,225 16.7% 1,065,117 9.85% 2012 105,562 2,615,932,000 24,781 11.6% 1,079,597 9.78% 2013 106,138 2,718,619,000 25,614 10.1% 1,094,205 9.70% 2014 106,388 2,707,894,000 24,453 7.1% 1,089,291 9.77%
2015 110,378 2,743,560,000 24,856 5.8% 1,126,745 9.80%
2016 111,785 2,797,360,000 25,024 5.1% 1,135,127 9.85%
2017 111,785 2,920,370,000 26,317 4.6% 1,147,439 9.74%
2018 110,146 3,027,471,000 27,413 3.6% 1,150,215 9.58%
2019 111,217 3,240,034,000 29,132 3.5% 1,153,526 9.64%
2020 110,130 3,416,146,000 31,019 11.2% 1,165,927 9.45% 2021 114,489 3,541,074,000 30,929 8.0% 1,161,413 9.86%
Source: HdL, Coren & Cone
0.00%
2.50%
5.00%
7.50%
10.00%
12.50%
15.00%
17.50%
20.00%
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Series1
5.00%
6.00%
7.00%
8.00%
9.00%
10.00%
11.00%
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Series1
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Billions
Series1
$0
$10,000
$20,000
$30,000
$40,000
$50,000
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Per Capita Personal Income
280
CITY OF RICHMOND
Principal Employers
Current Year and Nine Years Ago
2021-2022 2012-2013
Percentage Percentage
Number of of Total City Number of of Total City
Employer Employees Rank Employment Employees Rank Employment Chevron Refinery 3,195 1 3.0% 2,191 1 2.1%
West Contra Costa Unified School District 1,640 2 1.5% 1,580 2 1.5% Kaiser Foundation Hospitals 1,442 3 1.3% 426 8 0.4%
United Parcel Service 1,332 4 1.2%
Social Security Administration 1,259 5 1.2% 1,259 3 1.2% Amazon.com Services 1,121 6 1.0%
The Permanente Medical Group 1,051 7 1.0% 694 7 0.7%
U.S. Postal Service 1,047 8 1.0% 1,047 4 1.0%
City of Richmond 876 9 0.8% 844 5 0.8%
Contra Costa County 844 10 0.8% 776 6 0.7%
Bio-RAD Laboratories 473 9 0.5%
Michael Stead Auto Depot & Sales 472 10 0.5%
Subtotal 13,807 12.9% 9,762 9.3%
Total City Day Population 107,404 104,887
Source: City of Richmond Community Development Department 281
CITY OF RICHMOND
Full-Time Equivalent City Government Employees by Function Last Ten Fiscal Years
Adopted for Fiscal Year Ended June 30
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
(re-stated)
Function
General government 101.7 102.9 104.4 105.2 99.8 105.4 116.5 114. 7 124.7 113.1 120.1 Public safety 386.0 388.0 398.0 390.0 375.5 349.0 341.0 340. 0 342.0 309.0 303.0 Public works 116.0 113.0 116.0 109.0 112.0 144.0 143.0 148. 0 145.0 171.5 191.4 Community development 71.0 66.0 64. 0 56.0 59.5 41.0 40.0 41.0 42.0 7.0 5.0 Cultural and recreational 73.8 73.2 76. 8 66.0 59.0 57.0 59.1 61.7 61.7 58.1 60.7 Housing and redevelopment 19.6 13.0 12.0 10.0 5.9 3.8 3.8 3.8 3.8 2.8 2.0 Richmond Housing Authority
and RHA Properties 32.0 25.0 29.0 25.0 23.0 19.0 19.0 20.0 5.3 4.0 7.0 Port of Richmond 6.0 6.0 6.0 6.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 Richmond Marina (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) Municipal Sewer (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) Storm Sewer (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) Cable TV (3) (3) (3) (3) (3) (3) (3) (3) (3) (3) (3)
Convention Center (3) (3) (3) (3) (3) (3) (3) (3) (3) (3) (3) Total 806.1 787.1 806.2 767.2 738.7 723.2 726.4 733.2 728.5 669.5 693.2 Source: City of Richmond Budget
Notes:
(1) These services are p rovided by outside contractors. (2) C onvention Center closed during renovation and staff moved under cultural and recreational. (3) Staf f that perform these functions are included under General Government and Cultural and Recreational. (100)
0 100
200
300
400
500
600
700
800
900
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
FTE's
General government Public safety Public works Community development Cultural and recreational Housing and redevelopment Richmond Housing Authority Port of Richmond Richmond Marina Municipal Sewer Storm Sewer Cable TV Convention Center
282
CITY OF RICHMOND
Operating Indicators by Function/Program
Last Ten Fiscal Years
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Function/Program
Public safety:
Fire:
Fire calls for service 12,868 12, 988 13,670 14,497 14,372 14,375 13,900 14,318 18,150 18,210 Primary fire inspections conducted 2 ,716 3,000 1,569 1,134 1,160 5,378 3,929 2,919 3,320 1,510 Number of firefighters 93 85 94 91 90 91 90 89 89 89
Number of firefighters and civilians
per thousand population 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 Police:
Number of police officers
per thousand population 1.8 1.7 1.8 1.7 1.6 1.6 1.6 1.6 1.3 1.3 Number of sworn officers 195 186 196 185 182 178 178 178 157 145 Water
Daily average consumption
in gallons per family 250 250 250 250 250 250 250 160 194 145 Source: City of Richmond
283
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Function/Program
Public safety:
Fire stations 777777 7777
Police stations 444444 4444
Library (#) of Locations 333333 3333
Public works
Miles of streets 280 280 280 280 280 280 280 290 280 289 Street lights 7,000 6,543 8,343 8,543 9,000 9,000 9,000 7,801 9,000 9,000 Urban Forest (trees) (a) 26,000 21,609 22,009 35,620 35,782 36,231 36,499 36,766 36,700 38,000 Culture and recreation:
Community services:
C i t y p a r k s 5 55 55 55 55 55 5 5 5 5 5 5 5 5 6
City parks acreage 336.6 336.6 336.6 336.6 336.6 336.6 336.6 336.6 336.6 340.0 Open Space & Public Landscapes acreage 510.0 510.0 510.0 510.0 510.0 510.0 510.0 510.0 510.0 510.0 Lawn bowling 111111 1110
Recreation centers 888888 8888
Auditorium/Theater 111111 1111
Gymnasiums 333333 3332
Senior centers 222222 2222
Headstart centers/day cares 666666 6666
Putting green 111111 1110
Basketball courts 28 28 28 28 28 28 28 28 28 28
Swimming pools 222222 2222
Tennis courts 20 20 20 20 20 20 20 20 20 20
Baseball/softball diamonds 26 26 26 26 26 26 26 26 26 26 Soccer/football fields 17 17 17 17 17 17 17 17 17 17
Cricket fields 222222 2220
Water
Fire hydrants 3,153 3,153 3,153 3,153 3,153 3,153 3,153 3,153 3,153 2,163 Wastewater
Miles of sanitary sewers 183 183 183 183 183 183 230 189 194 194 Miles of storm sewers 310 310 310 310 310 310 310 198 310 173 Land Area (square miles) 33.7 33.7 33.7 33.7 33.7 33.7 33.7 33.7 33.7 33.7 Miles of waterfront 32 32 32 32 32 32 32 32 32 32
Source: City of Richmond
(a) Trees managed by the City for 2013 to present.
Data Prior to 2013 includes trees managed by other entities, such as East Bay Regional Park District, National Parks and Privately owned.
CITY OF RICHMOND
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
284