REVENUES OVER (UNDER)
EXPENDITURES (809,023) (809,023) (2,892,517) (2,083,494) OTHER FINANCING SOURCES (USES):
Transfers in 809,523 2,282,69 1 2,972,836 690,145
Total other financing sources (uses) 809,523 2,282,691 2,972,836 690,145 Net change in fund balances 500$ 1,473,668$ 80,319 (1,393,349)$ FUND BALANCES (DEFICITS):
Beginning of year 207
End of year 80,526$
Budgeted Amounts
233590
City of Richmond
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Civic Center Debt Service Fund
For the year ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amount s (Negative)
REVENUES:
Use of money and property -$ - $ 8,994$ 8,994 Charges for services 5,349,070 5,349,070 5,470,630 121,560 Other - - 3,603 3,603
Total revenues 5,349,070 5,349,070 5,483,227 134,157 EXPENDITURES:
Debt service:
Principal 3,650,000 3,650,000 3,650,000 -
Interest and fiscal charges 4,100,938 4,100,938 4,114,706 (13,768) Total expenditures 7,750,938 7,750,938 7,764,706 (13,768)
REVENUES OVER (UNDER)
EXPENDITURES (2,401,868) (2,401,868) (2,281,479) 120,389 OTHER FINANCING SOURCES (USES):
Transfers in 1,418,372 1,418,372 1,418,372 -
Total other financing sources (uses) 1,418,372 1,418,372 1,418,372 - Net change in fund balances (983,496)$ (983,496) $ (863,107) 120,389 $ FUND BALANCES (DEFICITS):
Beginning of year (1,357,033)
End of year (2,220,140)$
Budgeted Amounts
234591
City of Richmond
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Capital Improvement Fund
For the year ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amount s (Negative)
REVENUES:
Use of money and property -$ - $ 3,303$ 3,303 $ Other - - 237,300 237,300
Total revenues - - 240,603 240,603 EXPENDITURES:
Current:
Public works 65,000 4,308,95 1 48,529 4,260,422
Capital outlay 2,996,487 19,559,718 909,432 18,650,286
Total expenditures 3,061,487 23,868,669 957,961 22,910,708
REVENUES OVER (UNDER)
EXPENDITURES (3,061,487) (23,868,669) (717,358) 23,151,311 OTHER FINANCING SOURCES (USES):
Transfers in - 21,023,34 1 21,666,976 643,635
Total other financing sources (uses) - 21,023,341 21,666,976 643,635 Net change in fund balances (3,061,487)$ (2,845,328) $ 20,949,618 23,794,946 $ FUND BALANCES (DEFICITS):
Beginning of year 2,658,647
End of year 23,608,265$
Budgeted Amounts
235592
City of Richmond
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Measure C/J Fund
For the year ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amount s (Negative)
REVENUES:
Use of money and property -$ - $ 35,493$ 35,493 $ Intergovernmental 4,292,882 4,292,882 979,937 (3,312,945) Total revenues 4,292,882 4,292,882 1,015,430 (3,277,452) EXPENDITURES:
Current:
Public works 841,674 1,643,76 1 662,019 981,742
Capital outlay 2,945,273 3,517,780 878,424 2,639,356
Total expenditures 3,786,947 5,161,541 1,540,443 3,621,098
REVENUES OVER (UNDER)
EXPENDITURES 505,935 (868,659) (525,013) 343,646 Net change in fund balances 505,935$ (868,659) $ (525,013) 343,646 $ FUND BALANCES (DEFICITS):
Beginning of year 2,427,934
End of year 1,902,921$
Budgeted Amounts
236593
City of Richmond
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Harbor Navigation Fund
For the year ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amount s (Negative)
REVENUES:
Use of money and property -$ - $ 912 $ 912 $ Total revenues - - 912 912 Net change in fund balances -$ - $ 912 912 $ FUND BALANCES (DEFICITS):
Beginning of year 45,618
End of year 46,530$
Budgeted Amounts
237594
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238595
NONMAJOR ENTERPRISE FUNDS
Richmond Marina Fund records revenues collected from berth rentals and the use of the marina facilities. The fund also records expenses incurred for the operation of the facility and for the payment of the loan from the California Department of Boating and Waterways.
Storm Sewer Fund records the revenues from storm sewer fees and transfers from operations reserves. It also records the expenses of maintaining a clean storm sewer system so that the City is in compliance with the federally mandated Storm Water Pollution Prevention Program.
Cable TV Fund was setup for the administration and enforcement of the franchise agreements with two cable television systems, management of municipal cable channel, departmental video services, media and public information, and telecommunications planning. The fund records revenue received from franchise fees and indirect charges to other funds and administration expenses incurred in operating the system. 239596
City of Richmond
Combining Statement of Net Position
Nonmajor Enterprise Funds
For the year ended June 30, 2023
Total
Richmond Storm Sewer Cable TV Nonma jor
Marina Fund Fund Fund Enterprise Funds
ASSETS
Current assets:
Cash and investments 4,891,478 $ 2,002,040 $ 585,42 1$ 7,478,939 $ Restricted cash and investments 87,323 - - 87,323
Receivables:
Accounts, net 93,002 2,823 253,662 349,487
Interest 9,008 3,29 1 1,162 13,46 1
Grants - 94,049 - 94,049
Leases 107,868 4,480 - 112,348
Total current assets 5,188,679 2,106,683 840,245 8,135,607 Noncurrent assets:
Receivables:
Lease receivables 5,183,455 46,750 - 5,230,205
Capital assets:
Nondepreciable 330,794 4,461,576 - 4,792,370
Depreciable 4,338,356 31,106,167 140,882 35,585,405
Less accumulated depreciation (3,320,001) (30,066,538) (124,795) (33,511,334) Net capital assets 1,349,149 5,501,205 16,087 6,866,44 1 Total noncurrent assets 6,532,604 5,547,955 16,087 12,096,646 Total assets 11,721,283 7,654,638 856,332 20,232,253
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources - pension - 18,57 1 524,303 542,874 Deferred outflows of resources - OPEB - 2,474 17,662 20,136 Total deferred outflows of resources - 21,045 541,965 563,010
LIABILITIES
Current liabilities:
Accounts payable and accrued liabilities - 458,27 1 6,544 464,815 Interest payable 87,820 - - 87,820
Refundable deposits 90,67 1 1,200 - 91,87 1
Compensated absences - current - - 27,503 27,503
Long-term debt - current 111,01 1 89,568 - 200,579
Total current liabilities 289,502 549,039 34,047 872,588 Noncurrent liabilities:
Unearned revenue - 591,867 - 591,867 Compensated absences - - 35,18 1 35,181
Long-term debt 2,017,960 - - 2,017,960
Net pension liability - 61,068 1,724,123 1,785,19 1
Net OPEB liability - 98,766 705,474 804,240
Total noncurrent liabilities 2,017,960 751,70 1 2,464,778 5,234,439 Total liabilities 2,307,462 1,300,740 2,498,825 6,107,027
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources - pension - 1,065 30,06 1 31,126 Deferred inflows of resources - OPEB - 22,610 161,499 184,109 Deferred inflows of resources - leases 5,208,859 49,628 - 5,258,487 Total deferred inflows of resources 5,208,859 73,303 191,560 5,473,722
NET POSITION (DEFICIT)
Net investment in capital assets (779,822) 5,501,205 16,087 4,737,470 Restricted for debt service 87,323 - - 87,323
Unrestricted 4,897,461 800,435 (1,308,175) 4,389,721
Total net position 4,204,962$ 6,301,640 $ (1,292,088)$ 9,214,514 $ 240597
City of Richmond
Combining Statement of Revenues, Expenses and Changes in Fund Net Position Nonmajor Enterprise Funds
For the year ended June 30, 2023
Total
Richmond Storm Sewer Cable TV Nonmajor
Marina Fund Fund Fund Enterprise Funds
OPERATING REVENUES:
Rental 162,777 $ 5,865 $ - $ 168,642$ Service charges - 2,046,663 1,037,515 3,084,178 Lease income 378,855 18 - 378,873 Total operating revenues 541,632 2,052,546 1,037,515 3,631,693 OPERATING EXPENSES:
Salaries and benefits - (53,149) 396,375 343,226 General and administrative 36,863 1,670,160 317,551 2,024,574 Maintenance - - 17,957 17,957 Depreciation 84,278 174,378 1,990 260,646 Other - 11,828 1,207 13,035 Total operating expenses 121,141 1,803,217 735,080 2,659,438 OPERATING INCOME (LOSS) 420,491 249,329 302,435 972,255 NONOPERATING REVENUES (EXPENSES):
Interest income 230,219 31,960 12,905 275,084 Grants - 1,094,049 - 1,094,049 Interest expense (96,202) - - (96,202) Total nonoperating revenues (expenses) 134,017 1,126,009 12,905 1,272,931 Income (loss) before
contributions and transfers 554,508 1,375,338 315,340 2,245,186 CONTRIBUTIONS AND TRANSFERS:
Transfers in - - - - Transfers out (86,778) - - (86,778) Total contributions and transfers (86,778) - - (86,778) Change in net position 467,730 1,375,338 315,340 2,158,408 NET POSITION:
Beginning of year 3,737,232 4,933,292 (1,607,428) 7,063,096 Prior period adjustments - (6,990) - (6,990) Beginning of year, as restated 3,737,232 4,926,302 (1,607,428) 7,056,106 End of year 4,204,962$ 6,301,640 $ (1,292,088) $ 9,214,514 $ 241598
City of Richmond
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
For the year ended June 30, 2023
Total
Richmond Storm Sewer Cable TV Nonma jor
Marina Fund Fund Fund Enterprise Funds
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from customers 478,556 $ 1,958,504 $ 1,042,204 $ 3,479,264 $ Payments to suppliers (51,652) (1,749,298) (343,429) (2,144,379) Payments to employees - (32,955) (863,433) (896,388)
Net cash provided by (used in) operating activities 426,904 176,25 1 (164,658) 438,497
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:
Transfers out (86,778) -- (86,778)
Net cash provided by (used in)
noncapital financing activities (86,778) -- (86,778)
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:
Grant receipts - 1,094,049 - 1,094,049
Acquisition of capital assets - (1,118,238) - (1,118,238) Principal payments on capital debt (106,231) 89,568 - (16,663) Interest paid (100,584) -- (100,584)
Net cash provided by (used in)
capital and related financing activities (206,815) 65,379 - (141,436) CASH FLOWS FROM INVESTING ACTIVITIES:
Interest 224,007 29,624 12,214 265,845 Net cash provided by (used in) investing activities 224,007 29,624 12,214 265,845 Net cash flows 357,318 271,254 (152,444) 476,128 CASH AND INVESTMENTS - Beginning of year 4,621,483 1,730,786 737,865 7,090,134 CASH AND INVESTMENTS - End of year 4,978,801$ 2,002,040 $ 585,42 1$ 7,566,262 $ ---
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Operating income (loss) 420,491$ 249,329 $ 302,435 $ 972,255 $ Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities:
Depreciation expense 84,278 174,378 1,990 260,646
Changes in assets and liabilities:
Receivables, net (5,425) (92,440) 4,689 (93,176)
Accounts payable and accrued liabilities (16,994) (67,310) (6,714) (91,018) Refundable deposits 2,205 - - 2,205
Compensated absences payable - - 10,995 10,995
Net pension liability and deferred outflows/inflows - (44,619) (181,733) (226,352) Net OPEB liability and deferred outflows/inflows - (41,485) (296,320) (337,805) lease receivable and deferred outflows/inflows (57,651) (1,602) (59,253) Net cash provided by (used in) operating activities 426,904$ 176,25 1$ (164,658)$ 438,497 $ 242599
INTERNAL SERVICE FUNDS
Internal Service Funds are used to finance and account for special activities and services performed by a designated department for other departments in the City on a cost reimbursement basis.
The concept of major funds introduced by GASB Statement No. 34 does not extend to internal service funds because they do not do business with outside parties. GASB Statement No. 34 requires that for the Statement of Activities, the net revenues or expenses of each internal service fund be eliminated by netting them against the operations of the other City departments which generated them. The remaining balance sheet items are consolidated with these same funds in the Statement of Net Position.
However, internal service funds are still presented separatel y in the fund financial statements, including the funds below.
Insurance Reserves Fund is used t o report activitie s related t o employees' claim s due t o industrial in juries and activities related to general claims against the City for damages incurred.
Equipment Services and Replacement Fund is used to report activities related to maintenance and replacement of City vehicles.
Compensated Absences Fund is used t o account for sick, vacatio n and compensatory time leave pa youts related t o employee retirements.
243600
City of Richmond
Combining Statement of Net Position
Internal Service Funds
For the year ended June 30, 2023
Equipment Total
Insurance Services and Compensated Internal Service
Reserves Re placement Absences Funds
ASSETS
Current assets:
Cash and investments 53,533,963 $ 6,659,20 1$ 1,240,892 $ 61,434,056 $ Receivables:
Interest 99,970 11,81 1 - 111,78 1
Grants 2,525,216 - - 2,525,216
Total current assets 56,159,149 6,671,012 1,240,892 64,071,053 Noncurrent assets:
Capital assets:
Nondepreciable - 149,394 - 149,394 Depreciable - 31,829,641 - 31,829,641 Less accumulated depreciation - (22,487,085) - (22,487,085) Net capital assets - 9,491,950 - 9,491,950
Total noncurrent assets - 9,491,950 - 9,491,950
Total assets 56,159,149 16,162,962 1,240,892 73,563,003
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources - pension 366,075 - - 366,075 Deferred outflows of resources - OPEB 13,529 - - 13,529 Total deferred outflows of resources 379,604 - - 379,604
LIABILITIES
Current liabilities:
Accounts payable and accrued liabilities 1,317,084 205,793 - 1,522,877 Interest payable - 7,205 - 7,205
Compensated absences - current 28,64 1 - - 28,64 1
Claims payable - current 13,576,850 - - 13,576,850
Long-term debt - current - 272,34 1 - 272,34 1
Total current liabilities 14,922,575 485,339 - 15,407,914 Noncurrent liabilities:
Compensated absences 43,508 - - 43,508
Claims payable 36,104,836 - - 36,104,836
Long-term debt - 1,201,79 1 - 1,201,79 1
Net pension liability 1,203,807 - - 1,203,807
Net OPEB liability 540,393 - - 540,393
Total noncurrent liabilities 37,892,544 1,201,79 1 - 39,094,335 Total liabilities 52,815,119 1,687,130 - 54,502,249
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources - pension 20,989 - - 20,989 Deferred inflows of resources - OPEB 123,708 - - 123,708 Total deferred inflows of resources 144,697 - - 144,697
NET POSITION (DEFICIT)
Net investment in capital assets - 8,017,818 - 8,017,818 Unrestricted 3,578,937 6,458,014 1,240,892 11,277,843
Total net position 3,578,937$ 14,475,832 $ 1,240,892 $ 19,295,66 1$ 244601
City of Richmond
Combining Statement of Revenues, Expenses and Changes in Fund Net Position Internal Service Funds
For the year ended June 30, 2023
Equipment Total
Insurance Services and Compensated Internal Service
Reserves Replacement Absence s Funds
OPERATING REVENUES:
Service charges - internal 18,600,836 $ 3,605,000 $ 2,600,000 $ 24,805,836 $ Other - 11,047 - 11,047 Total operating revenues 18,600,836 3,616,047 2,600,000 24,816,883 OPERATING EXPENSES:
Salaries and benefits (227,307) - 2,438,444 2,211,137 General and administrative 1,203,037 - - 1,203,037 Maintenance 2,389,400 46,975 - 2,436,375 Depreciation - 1,916,668 - 1,916,668 Claims losses 12,302,386 - - 12,302,386 Total operating expenses 15,667,516 1,963,643 2,438,444 20,069,603 OPERATING INCOME (LOSS) 2,933,320 1,652,404 161,556 4,747,280 NONOPERATING REVENUES (EXPENSES):
Interest income 1,027,665 116,616 - 1,144,281 Grants 1,248,635 - - 1,248,635 Interest expense - (62,791) - (62,791) Total nonoperating revenues (expenses) 2,276,300 53,825 - 2,330,125 Income (loss) before
contributions and transfers 5,209,620 1,706,229 161,556 7,077,405 CONTRIBUTIONS AND TRANSFERS:
Transfers in - 478,018 - 478,018
Total contributions and transfers - 478,018 - 478,018 Change in net position 5,209,620 2,184,247 161,556 7,555,423 NET POSITION:
Beginning of year (1,630,683) 12,291,585 1,079,336 11,740,238 End of year 3,578,937$ 14,475,832 $ 1,240,892 $ 19,295,66 1$ 245602
City of Richmond
Combining Statement of Cash Flows
Internal Service Funds
For the year ended June 30, 2023
Equipment Total
Insurance Services and Com pensated Internal Servic e
Reserves Replacement Absence s Funds
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from interfund services 18,600,836 $ 3,619,359 $ 2,600,000 $ 24,820,195 $ Payments to suppliers (3,258,719) 156,476 - (3,102,243) Payments to employees (737,361) - (2,438,444) (3,175,805) Insurance premiums and claims paid (13,713,302) -- (13,713,302) Net cash provided by (used in) operating activities 891,454 3,775,835 161,556 4,828,845
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:
Interfund receipts (payments) ----
Transfers in - 478,018 - 478,018
Net cash provided by (used in)
noncapital financing activities - 478,018 - 478,018
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:
Grant receipts 2,013,745 - - 2,013,745
Acquisition of capital assets - (1,182,975) - (1,182,975) Principal payments on capital debt - (261,948) - (261,948) Interest paid - (64,071) - (64,071)
Net cash provided by (used in)
capital and related financing activities 2,013,745 (1,508,994) - 504,75 1 CASH FLOWS FROM INVESTING ACTIVITIES:
Interest 957,677 106,898 - 1,064,575 Net cash provided by (used in) investing activities 957,677 106,898 - 1,064,575 Net cash flows 3,862,876 2,851,757 161,556 6,876,189 CASH AND INVESTMENTS - Beginning of year 49,671,087 3,807,444 1,079,336 54,557,867 CASH AND INVESTMENTS - End of year 53,533,963$ 6,659,20 1$ 1,240,892 $ 61,434,056 $ ----
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Operating income (loss) 2,933,320$ 1,652,404 $ 161,556 $ 4,747,280 $ Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities:
Depreciation expense - 1,916,668 - 1,916,668
Changes in assets and liabilities:
Receivables, net - 3,312 - 3,312
Accounts
payable and accrued liabilities 333,718 203,45 1 - 537,169 Compensated absences payable 5,846 - - 5,846
Claims payable (1,410,916) -- (1,410,916)
Net pension liability and deferred outflows/inflows (743,532) -- (743,532) Net OPEB liability and deferred outflows/inflows (226,982) -- (226,982) Net cash provided by (used in) operating activities 891,454$ 3,775,835 $ 161,556 $ 4,828,845 $ 246603
TRUST FUNDS
Pension Trust Funds
General Pension Fund records the activity of the General Pension Plan, a defined benefit plan that covers 28 former City employees not covered by PERS, all of whom have retired.
Police and Firemen's Pension Fund records the activity of the Police and Firemen's Pension Plan, a defined benefit pension plan that covers 75 police and fire personnel employed prior to October 1964.
Garfield Pension Fund records the activity of the Garfield Pension Plan, a defined contribution pension plan that was set up for a retired police chief.
Private-Purpose Trust Funds
Pt. Molate Fund is used to account for assets held by the City as an agent for the U.S. Navy and a private developer for the cleanup of Point Molate.
Successor Agency to the Richmond Community Redevelopment Agency Fund accounts for the activities of the Successor Agency to the former Redevelopment Agency.
247604
City of Richmond
Combining Statement of Fiduciary Net Position
Pension Trust Funds
June 30, 2023
General Police and Garfield
Pension Firemen's Pension Pension Total
ASSETS
Restricted cash and investments 1,001,858 $ 1,263,174 $ - $ 2,265,032$ Mutual fund investments - 8,773,122 - 8,773,122 Interest receivable 1,921 453 - 2,374 Total assets 1,003,779 10,036,749 - 11,040,528 NET POSITION:
Restricted for employees' pension and OPEB benefits 1,003,779 10,036,749 - 11,040,528 Total net position 1,003,779$ 10,036,749 $ - $ 11,040,528$ Pension
248605
City of Richmond
Combining Statement of Changes in Fiduciary Net Position Pension Trust Funds
For the year ended June 30, 2023
General Police and Garfield
Pension Firemen's Pension Pension Total
ADDITIONS:
Contributions to trust - employers 152,897 $ - $ 12,408$ 165,305 $ Net investment income:
Net increase (decrease) in fair value of investments (6,394) 747,345 2,366 743,317 Interest income 27,924 267,524 3,459 298,907 Less investment management fees - (61,581) - (61,581) Total additions 174,427 953,288 18,233 1,145,948 DEDUCTIONS:
Pension benefits 240,913 971,644 8,845 1,221,402 Transfers to other funds - - 217,243 217,243 Total deductions 240,913 971,644 226,088 1,438,645 Change in net position (66,486) (18,356) (207,855) (292,697) NET POSITION:
Beginning of year 1,070,265 10,055,105 207,855 11,333,225 End of year 1,003,779$ 10,036,749 $ - $ 11,040,528$ Pension
249606
City of Richmond
Combining Statement of Fiduciary Net Position
Private Purpose Trust Funds
June 30, 2023
Successor
Agency to the
Richmond Community
Pt. Molate Redevelopment Agency Total
ASSETS
Cash and investments - $ 7,589,310$ 7,589,310 $ Restricted cash and investments 979,746 16,527,205 17,506,951 Accounts receivable - 1,439 1,439 Interest receivable 3,790 - 3,790 Prepaids and other assets - 5,245,489 5,245,489 Total assets 983,536 29,363,443 30,346,979
DEFERRED OUTFLOWS OF RESOURCES
Deferred ouflows of resources - deferred loss on refunding - 346,198 346,198 Total deferred outflows of resources - 346,198 346,198
LIABILITIES
Accounts payable and accrued liabilities 185,179 21,478 206,657 Interest payable - 518,874 518,874 Long-term debt:
Due within one year - 7,820,000 7,820,000 Due in more than one year - 39,382,929 39,382,929 Total liabilities 185,179 47,743,281 47,928,460 NET POSITION:
Held in trust for other governments 798,357 (18,033,640) (17,235,283) Total net position 798,357$ (18,033,640)$ (17,235,283) $ 250607
City of Richmond
Combining Statement of Changes in Fiduciary Net Position Private Purpose Trust Funds
For the year ended June 30, 2023
Successor
Agency to the
Richmond Community
Pt. Molate Redevelopment Agency Total
ADDITIONS:
Property taxes -$ 8,846,005$ 8,846,005 $ Interest income 11,801 528,898 540,699 Gain from sale of property - 585,808 585,808 Total additions 11,801 9,960,711 9,972,512 DEDUCTIONS:
Community development - 1,322,336 1,322,336 Payments in accordance with trust agreements 504,574 - 504,574 Interest and fiscal charges - 1,832,049 1,832,049 Total deductions 504,574 3,154,385 3,658,959 Change in net position (492,773) 6,806,326 6,313,553 NET POSITION:
Beginning of year 1,291,130 (24,839,966) (23,548,836) End of year 798,357$ (18,033,640)$ (17,235,283) $ 251608
City of Richmond
Subcombining Statement of Fiduciary Net Position
Successor Agency to the Richmond Community Redevelopment Agency June 30, 2023
Redevelopment
Property Tax Capital Bond Funded
Trust Fund Administration Projects Capital Projects
ASSETS
Cash and investments 2,848,411 $ 1,359 $ 4,739,540$ - $ Restricted cash and investments - - 3,341,316 - Accounts receivable - - 1,439 - Prepaids and other assets - - 5,245,489 -
Total assets 2,848,411 1,359 13,327,784 -
DEFERRED OUTFLOWS OF RESOURCES
Deferred ouflows of resources - deferred loss on refunding - - - - Total deferred outflows of resources - - - -
LIABILITIES
Accounts payable and accrued liabilities - 1,359 20,119 - Interest payable - - - - Long-term debt:
Due within one year - - - - Due in more than one year - - - - Total liabilities - 1,359 20,119 - NET POSITION:
Held in trust for successor agency 2,848,411 - 13,307,665 - Total net position 2,848,411$ - $ 13,307,665$ - $ 252609
Bond Intrafund
Payments Eliminations Total
-$ - $ 7,589,310$ 13,185,889 - 16,527,205 - - 1,439 - - 5,245,489
13,185,889 - 29,363,443 346,198 - 346,198 346,198 - 346,198 - - 21,478 518,874 - 518,874 7,820,000 - 7,820,000 39,382,929 - 39,382,929 47,721,803 - 47,743,281 (34,189,716) - (18,033,640)
(34,189,716)$ - $ (18,033,640)$ 253610
City of Richmond
Subcombining Statement of Changes in Fiduciary Net Position Successor Agency to the Richmond Community Redevelopment Agency For the year ended June 30, 2023
Redevelopment
Property Tax Capital Bond Funded
Trust Fund Administration Projects Capital Projects
ADDITIONS:
Property taxes 8,846,005 $ - $ - $ - $ Net investment income:
Interest income - - 139,310 - Less investment management fees - - - - Transfers from other funds - 309,950 59,280 - Gain from sale of property - - 585,808 - Total additions 8,846,005 309,950 784,398 - DEDUCTIONS:
Community development - 309,950 445,276 - Interest and fiscal charges - - - - Transfers to other funds 8,556,327 - 287,236 - Total deductions 8,556,327 309,950 732,512 - Change in net position 289,678 - 51,886 - NET POSITION:
Beginning of year 2,558,733 - 13,255,779 - End of year 2,848,411$ - $ 13,307,665$ - $ 254611
Bond Intrafund
Payments Eliminations Total
-$ - $ 8,846,005$ 389,588 - 528,898 - - - 8,474,333 (8,843,563) -
- - 585,808 8,863,921 (8,843,563) 9,960,711
567,110 - 1,322,336 1,832,049 - 1,832,049 - (8,843,563) -
2,399,159 (8,843,563) 3,154,385
6,464,762 - 6,806,326 (40,654,478) - (24,839,966) (34,189,716)$ - $ (18,033,640)$ 255612
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256613
CUSTODIAL FUNDS
Custodial Funds
Special Assessment Fund accounts for the monies collected and disbursed for land-based debt, where the City is not obligated for the debt.
General Agency Fund accounts for the assets held by the City as an agent for individuals, private organizations, and other governments.
Johnson Library Fund accounts for nonexpendable funds to be used to provide funding for special library projects.
Senior Center Fund accounts for assets held by the City in an agent capacity for programs benefiting the senior citizens residing within the City.
JPFA Reassessment Fund receives secured tax payments (from assessment rolls), and makes payments on the JPFA Revenue Reassessment Bonds; Series 2011A.
2016 A&B Reassessment District Fund receives payments of principal and in terest on prior assessment bonds, and makes payment on the JPFA Reassessment Revenue Bonds Series A and B. 257614
City of Richmond
Combining Statement of Fiduciary Net Position
Custodial Funds
For the year ended June 30, 2023
Special General Johnson
Assessment Agenc y Library
ASSETS
Cash and investments 885,397$ 2,934,768 $ 11,002 $ Restricted cash and investments 351,508 18,347 -
Interest receivable 1,566 5,472 20
Total assets 1,238,471 2,958,587 11,022
LIABILITIES
Accounts payable and accrued liabilities ---
Total liabilities ---
NET POSITION
Restricted for:
Individuals, organizations, and
other governments 1,238,471 2,958,587 11,022
Total net position 1,238,471$ 2,958,587 $ 11,022 $ 258615
2016 A&B Total
Senior JPFA Reassessment Custodial
Center Reassessment District Fund s
73,458$ 1,886,140 $ 708,792 $ 6,499,557 $ - - 323,425 693,280
133 3,476 1,142 11,809
73,591 1,889,616 1,033,359 7,204,646
529 - - 529
529 - - 529
73,062 1,889,616 1,033,359 7,204,117
73,062$ 1,889,616 $ 1,033,359 $ 7,204,117 $ 259616
City of Richmond
Combining Statement of Changes in Fiduciary Net Position Custodial Funds
For the year ended June 30, 2023
Special General Johnson
Assessment Agenc y Library
ADDITIONS:
Property taxes 293,316$ - $ - $ Contributions - 212,778 -
Net investment income:
Interest income 26,085 59,487 216
Total additions 319,401 272,265 216 DEDUCTIONS:
Community development ---
Interest and fiscal charges 319,201 --
Transfers to other funds ---
Other - 195,578 -
Total deductions 319,201 195,578 - Change in net position 200 76,687 216
NET POSITION:
Beginning of year 1,238,271 2,881,900 10,806
End of year 1,238,471$ 2,958,587 $ 11,022 $ 260617
2016 A&B Total
Senior JPFA Reassessment Custodial
Center Reassessment District Fund s
-$ - $ 749,212$ 1,042,528 $ 23,063 - - 235,84 1
1,379 37,055 17,083 141,305
24,442 37,055 766,295 1,419,674 ----
- - 661,194 980,395
----
10,910 - - 206,488
10,910 - 661,194 1,186,883 13,532 37,055 105,10
1 232,791
59,530 1,852,56 1 928,258 6,971,326
73,062$ 1,889,616 $ 1,033,359 $ 7,204,117 $ 261618
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262619
263620
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264621
Financial Trends
1. Net Position by Component
2. Changes in Net Position
3. Fund Balances of Governmental Funds
4. Changes in Fund Balance of Governmental Funds
Revenue Capacity
1. Assessed and Estimated Actual Value of Taxable Property
2. Property Tax Rates, All Overlapping Governments
3. Principal Property Tax Payers
4. Property Tax Levies and Collections
5. Utility Users Tax Collections
6. Utility Users Tax Direct Rates
7. Top Ten Utility Users Taxpayers
Debt Capacity
1. Ratio of Outstanding Debt by Type
2. Computation of Legal Bonded Debt Margin
3. Revenue Bond Coverage - 1999, 2006, 2008, 2010A & 2010B Wastewater Revenue Bonds
4. Revenue Bond Coverage - 1996, 1999, 2004, 2007, and 2009 Port Terminal Lease Revenue Bonds, Note and Point Potrero Lease Revenue Bonds.
5. Bonded Debt Pledged Revenue Coverage - Tax Allocation Bonds all Refunding Bonds
6. General Bonded Debt - Pension Obligation Bonds
7. Computation of Direct and Overlapping Debt
Demographic and Economic Information
1. Demographic and Economic Statistics
2. Principal Employers
These schedules contain trend information to help the read er understand how the City’s financial performance and wellbeing have changed over time:
CITY OF RICHMOND
JUNE 30, 2023
STATISTICAL SECTION
This part of the City’s Annual Comprehensive Financial Report presents detailed information as a context for understanding what the information in the financial sta tements, note disclosures, and required supplementary information says about the City’s overall financial health. In contrast to the financial section, the statistical section information is not subject to independent audit.
These schedules contain information to help the reader asse ss the City’s most significant local revenue source, the property tax:
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:
These schedules offer demographic and economic indicators to help the reader understand the environment within which the City’s financial activities take place:
265622
Operating Information
1. Full-Time Equivalent City Government Employees by Function
2. Operating Indicators by Function/Program
3. Capital Asset Statistics by Function/Program
Sources
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:
Unless otherwise noted, the information in these schedules is derived from the Annual Financial Reports for the relevant year.
CITY OF RICHMOND
JUNE 30, 2023
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267624
CITY OF RICHMOND
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal Year Ended June 30
2014 2015 (a) 2016 2017
Governmental activities
Net investment in capital assets $ 227,828,243 $218,144,811 $228,292,389 $233,619,046 Restricted 50,461,923 54,578,939 70,322,707 76,810,440
Unrestricted (148,161,106) (479 ,961,080) (508,981,299) (504,602,583) Total governmental activities net position $1 30,129,060 ($207,237,330) ($ 210,366,203) ($194,173,097) Business-type activities
Net investment in capital assets $72,911,000 $74,922,303 $63,405,228 $71,000,240 Restricted 9,793,767 9,408,237 9,008,038 9,441,288
Unrestricted (3,096,845) (18 ,432,590) (23,382,659) (24,096,174) Total business-type activities net position $79,607,922 $65,897,950 $49,030,607 $56,345,354 Primary government
Net investment in capital assets $ 300,739,243 $293,067,114 $291,697,617 $304,619,286 Restricted 60,255,690 63,987,176 79,330,745 86,251,728
Unrestricted (151,257,951) (498 ,393,670) (532,363,958) (528,698,757) Total primary government net position $209 ,736,982 ($141,339,380) ($161,335,596) ($137,827,743) (a) The City implemented the provisions of GASB Statement No. 68 in fiscal year 2015. Years prior to 2015 have not been restated. (b) The City implemented the provisions of GASB Statement No. 75 in fiscal year 2018. Years prior to 2018 have not been restated. ($800,000)
($600,000)
($400,000)
($200,000)
$0
$200,000
$400,000
$600,000
2014 2015 (a) 2016 2017 2018 (b) 2019 2020 2021 2022 2023 Net Investment in Capital Assets Restricted Unrestricted 268625
Fiscal Year Ended June 30
2018 (b) 2019 2020 2021 2022 2023
$221,336,363 $211,717,676 $205,374,054 $206,4 19,763 $213,930,154 $219,126,138 87,380,363 93,157,922 93,703,974 103,401 ,613 117,136,516 139,687,095 (625,067,289) (644,341,826) (597,270,745 ) (568,565,683) (491,4 15,035) (421,110,978) ($316,350,563) ($339,466,228) ($298,192,717) ($258,744,307) ($160,348,365) ($62,297,745) $68,213,687 $52,161,380 $64,270,898 $ 75,738,268 $75,469,292 $82,405,234 9,514,522 9,440,965 1,517,087 13 ,859,999 607,958 879,457 (27,908,968) (8,644,683) (1,045,003) (1,417,443) 37,774,604 50,575,898 $49,819,241 $52,957,662 $64,742,982 $ 88,180,824 $113,851,854 $133,860,589 $289,550,050 $263,879,056 $269,644,952 $282,1 58,031 $289,399,446 $301,531,372 96,894,885 102,598,887 95,221,061 11 7,261,612 117,744,474 140,566,552 (652,976,257) (652,986,509) (598,315,748 ) (569,983,126) (453,6 40,431) (370,535,080) ($266,531,322) ($286,508,566) ($233,449,73 5) ($170,563,483) ($46,496,511) $71,562,844 269626
CITY OF RICHMOND
Changes in Net Position
Last Ten Fiscal Years
(Accrual Basis of Accounting)
2014 2015 (a) 2016 2017
Expenses
Governmental Activities:
General Government $36,119,297 $28,879,074 $32,197,941 $34,851,005 Public Safety 102,664,551 102,732,652 107,380,286 104,919,259 Public Works 46,403,830 43,363,799 44,410,102 41,558,084 Community Development 4,618,101 4,771,875 5,003,045 3,290,142 Cultural and Recreational 10,808,931 10,492,020 11,021,226 10,996,526 Housin
g and Redevelopment 1,984,908 2,751,290 2,051,898 7,449,42 3 Interest and Fiscal Charges 19,439,248 17,219,905 18,902,831 16,387,887 Total Governmental Activities Expenses 222,038,866 210,210,615 220,967,329 219,452,326 Business-Type Activities:
Richmond Housing Authority 29,771,151 28,049,474 26,385,133 26,241,916 Port of Richmond 9,530,693 9,923,282 11,132,997 10,102,104 Richmond Marina 253,190 235,054 237,129 230,621
Municipal Sewer 16,298,623 15,965,608 16,446,626 17,720,735 Storm Sewer 3,210,678 3,282,406 2,465,929 2,320,723
Cable TV 890,846 948,426 2,114,436 1,028,185
Total Business-Type Activities Expenses 59,955,181 58,404,250 58,782,250 57,644,284 Total Primary Government Expense
s $281,994,047 $268,614,865 $279,749,579 $277,096,610
Program Revenues
Governmental Activities:
Charges for Services:
General Government $16,917,113 $11,107,654 $12,468,525 $15,543,381 Public Safety 6,217,749 10,466,292 7,271,472 8,932,212
Public Works 4,160,804 3,609,577 3,936,242 4,796,586
Community Development 405,404 1,385,689 1,069,767 615,388 Cultural and Recreational 584,475 475,091 1,128,267 1,252,192 Housing and Redevelopment 42,040
Operating Grants and Contributions 8,434,018 9,231,039 20,994,534 16,083,370 Capital Grants and Contributions 34,530,908 21,097,186 17,534,992 14,008,833 Total Government Activities Program Revenues 71,250,471 57,372,528 64,445,839 61,231,962 Business-Type Activities:
Charges for Services:
Richmond Housing Authority 2,638,834 1,917,602 1,851,337 3,067,020 Port of Richmond 10,201,751 9,480,367 10,581,419 10,182,777 Munici
pal Sewer 18,569,191 19,033,40 6 19,757,863 20,767,925
Richmond Marina 456,956 488,201 517,108 540,567
Storm Sewer 1,869,064 1,845,648 1,966,537 1,992,758
Cable TV 1,228,864 1,376,194 1,320,486 1,339,104
Operating Grants and Contributions 21,953,401 22,112,391 21,951,328 22,636,922 Capital Grants and Contributions 1,673,398 2,189,724 2,155,686 969,910 Total Business-Type Activities Program Revenue 58,591,459 58,443,533 60,101,764 61,496,983 Total Primary Government Program Revenue
s $129,841,930 $115,816,061 $124,547,60 3 $122,728,945
Net (Expense)/Revenue
Governmental Activities ($150,788,395) ($15 2,838,087) ($156,521,490) ($158,220,364) Business-Type Activities (1,363,722) 39,283 1,319,514 3,852,699 Total Primary Government Net Expense ($152,152,117) ($152,798,804) ($155,201,976) ($154,367,665) General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Property Taxes:
Current Collections $42,226,820 $45,129,392 $51,302,638 $56,588,547 Sales Taxes 29,627,711 33,155,376 40,877,125 41,620,189 Utility User Taxes 48,033,706 48,299,958 43,365,249 44,966,489 Documentary Transfer Taxes 3,461,473 4,818,936 6,187,096 7,452,985 Other Taxes 3,592,218 5,099,511 5,734,802 5,329,465
Unrestricted Intergovernmental 1,806,532 43,312 49,448
Use of Mone
y and Property (1,164,987) (4,752,198) 1,198,266 12,230,256 Gain From Sale of Capital Assets 174,874 268,92 7 262,667 64,651 Miscellaneous 3,229,898 2,151,042 4,258,061 5,138,724
Pension Stabilization Revenue 998,839 954,202 915,860 885,938 Developer Revenue Sharing
Transfers 178,487 600,000 86,778
Special/Extraordinary Items:
Swap Termination (16,321,171)
Transfer of Loans to Housing Successor
Assets Transferred To/Liabilities Assumed By 14,968,712 Housing Successor/Successor Agency
Total Government Activities 130,180,552 137,110,165 153,392,617 174,413,470 Business-Type Activities:
Taxes:
Property Taxes
Use of Money and Property (185,246) (563,129) (3,076,857) 3,548,826 Settlement
Other
Special Item (14,510,000)
Transfers (178,487) (600,000) (86,778)
Extraordinary Items 1,359,929
Total Business-Type Activities 1,174,683 (741,616) (18,186,857) 3,462,048 Total Primary Governmen
t $131,355,235 $136,368,549 $135,205,760 $177,875,518
Change in Net Position
Governmental Activities ($20,607,843) ($15,727,922) ($3,128,873) $16,193,106 Business-Type Activities (189,039) (702,333) (16,867,343) 7,314,747 Total Primary Government ($20,796,882) ($16,430,255) ($19,996,216) $23,507,85 3 (a) The City implemented the provisions of GASB Statement No. 68 in fiscal year 2015. Years prior to 2015 have not been restate d. (b) The City implemented the provisions of GASB Statement No. 75 in fiscal year 2018. Years prior to 2018 have not been restate d. 270627
Fiscal Year Ended June 30
2018 (b) 2019 2020 202 1 2022 2023
(re-stated)
$45,715,329 $45,626,305 $43,495,871 $46,917,122 $48,312,143 $60,377,362 114,932,219 116,621,006 108,947,688 94,378,715 68,259,779 76,926,512 48,617,290 49,893,124 45,051,479 33,979,639 35,554,874 36,475,877 4,589,328 5,791,630 4,115,214 4,534,280 3,552,363 4,515,446 14,280,985 15,074,312 10,409,881 9,006,470 9,969,799 9,263,762 3,442,239 2,676,89 7 2,807,611 3,007,152 3,375,87 5 3,234,605 16,127,479 15,380,005 14,896,558 12,825,356 12,322,289 4,841,105 247,704,869 251,063,279 229,724,302 204,648,734 181,347,122 195,634,669 30,978,813 36,766,319 5,834,686 3,607,603 (1,750,799) 4,986,560 10,257,553 8,811,486 7,744,773 6,263,232 4,763,557 5,500,092 327,442 273,929 21,767,690 20,466,640 246,064 217,343
21,696,370 19,259,997 241,445 227,391 18,140,943 20,762,028 1,661,808 1,643,453 1,965,353 1,796,422 1,282,576 1,803,217 1,697,155 973,747 671,790 788,957 664,656 735,080
66,619,141 67,728,931 38,225,737 33,150,245 23,346,997 34,004,320 $314,324,010 $318,792,210 $267,950,039 $237,798,979 $204,694,119 $229,638,989 $16,838,782 $15,310,347 $13,211,033 $13,777,010 $18,422,370 $26,604,156 8,147,458 7,124,227 6,631,900 3,674,412 3,448,026 2,820,319 6,529,172 5,118,216 7,792,157 7,198,221 4,405,851 4,897,532 1,748,222 1,603,581 827,055 665,999 110,552 581,864
1,545,399 2,200,702 1,111,472 814,073 577,978 758,252
1,878,958 2,189,703
20,556,989 20,514,833 25,354,387 29,316,141 37,756,494 39,914,874 10,471,376 5,778,572 4,987,273 4,386,950 10,787,022 1,785,082 67,716,356 59,840,181 59,915,277 59,832,806 75,508,293 77,362,079 1,740,399 3,329,072 841,319 861,943 782,951 1,344,324
10,580,246 10,629,229 10,454,061 10,704,024 10,530,653 11,383,930 22,447,439 24,476,96
7 27,934,684 27,759,474 28,168,97 7 30,312,526
537,438 602,591 564,988 574,453 524,652 541,632
2,068,110 1,942,171 2,087,561 2,103,928 2,061,815 2,052,546 1,281,952 1,240,754 1,203,837 1,145,936 1,103,873 1,037,515 26,098,804 28,666,300 4,027,791 3,771,674 2,211,712 4,341,092 1,155,536 2,170,137 322,164 13,167
65,909,924 73,057,221 47,436,405 46,934,599 45,384,633 51,013,565 $133,626,280 $132,897,402 $107,351,682 $106,767,40
5 $120,892,926 $128,375,644
($179,988,513) ($191,223,098) ($169,809,025) ($144,815,928) ($105,838,829) ($118,272,590) (709,217) 5,328,290 9,210,668 13,784,354 22,037,636 17,009,245 ($180,697,730) ($185,894,808) ($160,598,357) ($131,031,574) ($83,801,193) ($101,263,345) 59,441,796 60,592,022 63,004,942 65,075,408 65,248,507 71,089,739 44,474,973 47,659,481 44,537,156 48,998,406 53,453,323 55,541,366 46,079,755 45,905,937 45,552,523 45,240,705 48,373,587 54,676,023 6,486,347 8,011,672 8,707,564 19,857,680 18,612,087 10,416,847 6,144,968 6,227,213 7,127,375 7,424,135 8,176,511 9,206,830 58,842 4,705,047 5,367,784 6,593,602 7,241,103 8,744,324 7,000,78
5 (6,825,744) 2,946,978 1,461,004 1,593,84 6 5,516,787
39,226 71,779 82,03 6 71,458 88,47 7 20,207
4,195,794 1,980,97 3 1,992,600 1,357,022 2,140,211 1,993,53 5 86,778 (220,947) 86,778 (11,279,988) (3,516,663) (882,448) 1,208,259
175,217,523 168,107,433 179,405,736 184,799,432 201,410,989 216,323,210 3,431,293 (1,015,459) 770,319 145,810 909,597 2,083,188 (86,778) 220,947 (86,778) 11,279,988 3,516,663 882,448
3,344,515 (794,512) 683,541 11,425,798 4,426,260 2,965,636 $178,562,038 $167,312,921 $180,089,27 7 $196,225,230 $205,837,249 $219,288,84 6 ($4,770,990) ($23,115,665) $9,596,711 $39,983,504 $95,572,160 $98,050,620 2,635,298 4,533,778 9,894,209 25,210,152 26,463,896 19,974,881 ($2,135,692) ($18,581,887) $19,490,920 $65,193,65 6 $122,036,056 $118,025,501 271628
CITY OF RICHMOND
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
2014 (b) 2015 2016 2017 2018 2019 2020 2021 2022 2023
General Fund
Nonspendable $19,505,987 $18,708,682 $18,404,669 $15,697,680 $17 ,967,653 $17,170,714 $16,705,993 $14,399,738 $14,242,186 $13,867,445 Restricted 1,505,053 3,996,614
Committed 1,500,000 9,800,000 3,383,453 3,720,697
Assigned 56,786 23,934 4,460 10,013 72,506 63,180 113,349 2,436,475 6,397,688 9,530,225 Unassigned 7,979,055 9,949,120 10,988,266 19,709,197 17,590, 764 19,534,660 20,326,889 22,477,829 44,935,389 55,196,962 Total General Fund $27,541,828 $28,681,736 $29,397,395 $35,416 ,890 $35,630,923 $36,768,554 $38,646,231 $49,114,042 $70,463,769 $86,311,94 3( a ) All Other Governmental Funds
Nonspendable $484 $550
Restricted $39,066,351 41,017,602 53,752,247 $56,052,014 $64,125,35 3 $72,865,392 $75,880,927 $80,161,994 $88,191,500 $108,207,093 Committed
Assigned 428,766 430,083 431,867 782,617 43,906 44,602 45,264 2,521,099 45,618 1,750,000 Unassigned (15,499,990) (9,755,130) (13,824,433) (12,190,388) (8,93 9,781) (5,403,755) (2,000,302) (1,677,775) (1,375,327) (3,057,916) Total all other governmental funds $23,995,127 $31,693,039 $40,360,231 $44,644,243 $55,229,478 $67, 506,239 $73,925,889 $81,005,318 $86,8 61,791 $106,899,177 (a) (a) The change in total fund balance for the General Fund and other governmental funds is explained in Management's Discussion and Analysis.
(b) Balance was restated in fiscal year 2014. Years prior to 2013 have not been restated. ($50)
$0
$50
$100
$150
$200
Millions
Reserved Unreserved Nonspendable Restricted Committed Assigned Unassigned 272629
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273630
CITY OF RICHMOND
Changes in Fund Balance of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
2014 2015 2016 2017
Revenues
Property taxes $43,559,30 5 $46,498,061 $52,714,540 $58,042,766 Sales taxes 29,627,711 33,131,486 40,877,125 41,620,189 Utility user fees 48,033,706 48,299,958 43 ,365,249 44,966,489 Other taxes 7,053,691 9,918,447 11,628,519 12,566,579
Licenses, permits and fees 7,713,634 12,409,625 12,235,483 16,577,695 Developer revenue sharing
Fines, forfeitures and penalties 821,411 1 ,353,518 901,838 1,065,421 Use of money and property 153,958 225,529 212,787 422,324 Intergovernmental 17,0 78,035 19,228,997 1 4,440,543 19,913,858 Private grants 12,971,138 5,000,000
Charges for services 20,022,968 13,607,840 13,462,270 15,947,909 Pension stabilization revenue 998,839 954,2 02 915,860 885,938 Rent 708,626 809,113 768,753 839,821
Other 2,845,117 1,97 7,688 4,300,150 5,472,719
Total Revenues 178,617,00 1 188,414,464 208,794,255 223,321,708 Expenditures
Current:
General government 32 ,005,878 29,786,089 31,819,369 36,973,645 Public safety 91,676,955 90,219,981 94,774,545 95,479,682 Public works 26,363,885 25,806,437 25,690,663 30,327,553 Community development 4,357,885 4,586,333 4 ,843,687 6,374,607 Cultural and recreational 10,223,708 10,021,481 10,551,337 10,786,216 Housing and redevelopment 2,266,265 2,625,5 33 3,038,135 7,672,540 SERAF
Capital outlay 14,365,88 8 8,178,649 8,566,563 3,667,134 Debt service:
Principal repayment 6,775,769 7,842,830 9,148,909 9,966,416 Interest and fiscal charges 10,989,996 13,4 07,604 12,503,442 11,471,169 Debt defeasance uisng existing resources
Swap termination payment 28,554,000
Total Expenditures 19 9,026,229 192,474,937 229,490,650 212,718,962 Excess (deficiency) of revenues over
(under) expenditures (2 0,409,228) (4,060,473) (20,696,395) 10,602,746 Other Financing Sources (Uses)
Proceeds from sale of property 174,874 268,9 27 262,667 181,022 Transfers in 20,145,264 12,879,975 12,124,166 18,770,780 Transfers out (20,859,344) (1 3,815,569) (12,0 91,206) (19,251,041) Payment to refund bond escrow agent
Issuance of long-term debt 6,165,445 11,175,436 28,390,000 Bond issuance premium 82,880 1,393,619
Other financing sources - SBITAs
Total other financing sources (uses) 5,626,239 10,591,649 30,079,246 (299,239) Special and Extraordinary Items
Assets transferred to/liabilities assumed by
Housing Successor/Successor Agency
Transfer of loans to housing successor
Total Special and Extraordinary Items
Net Change in fund balances ($14,782,989) $6,5 31,176 $9,382,851 $10,303,507 Debt service as a percentage of
noncapital expenditures 9.4% 11.4% 9.8% 10.3%
NOTE:
274631
Fiscal Year Ended June 30,
2018 2019 2020 2021 2022 2023
$60,963,189 $66,816,032 $68,285,321 $70,294,487 $ 72,362,382 $79,715,269 44,474,973 47,659,481 44,537,156 48,998,406 53,453,323 55,541,366 46,079,755 45,905,937 45,552,523 45,240,705 48,373,588 54,676,023 12,413,127 14,020,347 15,619,151 27,066,292 26,573,077 19,623,678 21,552,883 18,865,730 15,385,538 18,316,552 20,710,335 31,439,148 1,001,927 964,255 815,910 455,470 407,493 259,035
746,525 1,302,922 1,302,020 472,216 622,268 3,555,012
20,137,593 17,691,976 24,284,779 23,912,334 28,014,581 29,088,796 9,000,000 9,000,000
17,045,201 16,625,733 16,807,806 15,371,589 13,551,503 13,125,077 852,940 988,741 892,579 699,301 723,596 817,496
4,418,779 2,999,947 1,998,535 1,491,314 2,157,113 2,074,641 238,686,892 242,841,101 235,481,318 252,318,666 2 66,949,259 289,915,541 44,009,256 42,470,628 47,122,400 47,429,988 48,844,022 61,881,734 96,546,035 99,824,574 100,037 ,206 97,682,457 96,752,490 93,999,040 35,016,495 37,133,097 34,207,196 32,067,844 33,922,641 38,916,970 8,057,638 5,126,848 5,189,613 5,606,322 5,680,870 6,486,694 11,347,436 12,713,460 11,482,027 9,717,875 10,583,266 10,833,071 1,942,637 3,436,988 3,544,492 3,225,876 3,357,987 3,484,198 10,000,595 5,774,234 4,871,461 6,135,189 13,403,045 10,860,450 11,032,933 12,518,807 12,552,283 14,423,082 17,234,527 19,860,477 10,785,342 10,026,887 10,431 ,652 7,044,795 6,117,847 5,856,744 2,163,313
228,738,367 229,025,523 229,438,330 223,333,428 2 35,896,695 254,342,691 9,948,525 13,815,578 6,042,988 28,985,238 31,052,564 35,572,850 39,226 71,779 82,036 71,458 88,477 20,207
14,472,164 19,215,848 18,336,677 15,524,305 20,744,118 50,312,870 (14,868,906) (19,688,813) (1 8,221,126) (27,033,761) (24,861,799) (51,673,336) (77,315,000) (152,904,036)
79,171,752 154,140,000
417,005
(357,516) (401,186) 2,054,339 ( 11,437,998) (4,029,204) 312,710 1,208,259
1,208,259
$10,799,268 $13,414,392 $8,097,327 $17,547,240 $27,023,360 $35,885,560
10.0% 10.2% 10.3% 9.9% 10.2% 11.5%
275632
CITY OF RICHMOND
ASSESSED AND ESTIMATED ACTUAL
VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
(In Thousands)
2014 2015 2016 2017 2018 2019 2020 2021 202 2 2023
ASSESSED VALUE (1)
Land $3,218,339 $3,781,609 $4,186,239 $4,520,312 $4,946,654 $5,423,245 $5,888,775 $6,277,934 $6,573,641 $7 ,191,720 Improvements 7,181,567 8,187,280 8,683,770 9,216,704 9,400,903 10,129,347 10,214,867 10,541,291 10 ,494,291 11 ,281,579 Total Real Property 10,399,906 11,968,889 12,870,009 13,737,016 14,347,557 15,552,592 16,103,642 16,819,225 17,067,932 18,473,299 Personal Property 53,195 460,661 669 ,634 585,832 $589,457 $584,968 $617,157 $652,386 $635,202 $617,274 TOTAL $10,453,101 $12,429,55 0 $13,539,643 $14,322,848 $14,937,014 $16,137,560 $16,720,799 $17,471,611 17,703,13 4 19,090,573 EXEMPTIONS(2)
Homeowners(a) $100,680 $98,456 $96,539 $95,052 $94,266 $93,219 $91,907 $91,372 $91,348 $89,300 Other(b) 527,179 587,350 641,475 688,713 760,841 809 ,325 932,222 1,008,837 1,214,858 1,258,758 TOTAL $627,859 $685,806 $738,014 $783,765 $855,107 $902,544 $1,024,129 $1,100,209 $1,306,206 $1,348,058
ASSESSED VALUE
(Net of Exemptions) $9,825,242 $11,743,744 $12,801,629 $13,539,083 $14,081,907 $15,235,016 $15,696,670 $16,371,402 $16,396,928 $17,742,515 Redevelopment Tax
Increments(3) 1,595,033 1,799,831 2 ,055,811 2 ,248,742 2,567,061 2 ,892,823 3,175,294 3,175,294 3,175,294 4,093,194
NET ASSESSED
VALUE $8,230,209 $9,943,913 $10,745,818 $11,290,341 $11,514,84 6 $12,342,193 $12,521,376 $13,196,108 $13,221,634 $13,649,321
NET INCREASE
(DECREASE) ($2,868,092) $1,713,704 $801,905 $544,523 $224,505 $827,347 $179,183 $853,915 $700,258 $453,213 % OF INCREASE
(DECREASE) -25.84% 20.82% 8.06% 5.07% 1.99% 7.19% 1.45% 6.92% 5.59% 3.43% Total Direct Tax Rate(4) 0.41948% 0.43929% 0.43781% 0.43675% 0.43591% 0.43540% 0.43473% 0.43394% 0.43360% 0.42978% (1) Assessed value (full cash value) of taxable property represents all property within the City. For the fiscal year 1981-82 and thereafter, the assessed value is 100% of the full cash value in accordance with State legislation. The maximum tax rate is 1% of the full cash value or $1/$100 of the assessed value, excluding the tax rate for debt service.
(2) Exemptions are summarized as follows:
(a) Homeowners' exemption arises from Article XIII(25) which reimburses local governments for revenues lost through the homeowners' exemption in Article XIII(3)(k).
(b) Other exemptions are revenues lost to the City because of provisions of California Constitution, Article XIII(3). (3) Tax increments are allocations made to the Redevelopment Agency under authority of California Constitution, Article XVI. (4) California cities do not set their own direct tax rate. The state constitution establishes the rate at 1% and allocates a portion of that amount, by an annual calculation, to all the taxing entities within a tax rate area.
The City of Richmond encompasses more than 92 tax rate areas.
See Property Tax Rates statistics for additional information.
Source: County of Contra Costa, Office of the Auditor-Controller HdL reports
276633
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277634
CITY OF RICHMOND
PROPERTY TAX RATES
ALL OVERLAPPING GOVERNMENTS
LAST TEN FISCAL YEARS
Basic City of East Bay West Contra Total
County Richmond Regional East Bay Contra Costa Direct & Fiscal Wide 1981 Pension Parks Acalanes MUD Dist. 1 Orinda Costa Community Overlapping Year Levy (1) Liability (2) BART District Union Bond Elementary Unified College Tax Rates (2) 2014 1.00000 0.14000 0.00750 0.00780 0.03610 0.00660 0.02550 0.28180 0.01330 1.51860 2015 1.00000 0.14000 0.00450 0.00850 0.03500 0.00470 0.02320 0.28030 0.02520 1.52140 2016 1.00000 0.14000 0.00260 0.00670 0.00000 0.00340 0.00000 0.27810 0.02200 1.45280 2017 1.00000 0.14000 0.00800 0.00320 0.00000 0.00280 0.00000 0.26040 0.01200 1.42640 2018 1.00000 0.14000 0.00840 0.00210 0.00000 0.00110 0.00000 0.23970 0.01140 1.40270 2019 1.00000 0.14000 0.00700 0.00210 0.00000 0.00000 0.00000 0.23900 0.01100 1.39910 2020 1.00000 0.14000 0.01200 0.00940 0.00000 0.00000 0.00000 0.23790 0.01880 1.41810 2021 1.00000 0.14000 0.01390 0.00140 0.00000 0.00000 0.00000 0.24320 0.01610 1.41460 2022 1.00000 0.14000 0.00600 0.00200 0.00000 0.00000 0.00000 0.29390 0.01760 1.45950 2023 1.00000 0.14000 0.01400 0.00580 0.00000 0.00000 0.00000 0.25640 0.01620 1.43240 NOTES:
(1) In 1978, California voters passed Propositi on 13 which set the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of any voter approved bonds.
(2) Overlapping rates are those of local and county governments th at apply to property owners within the City. Not all overlapping rates apply to all city property owners. (3) City's Share of 1% Levy is ba sed on the City's share of the general fund tax rate area with the largest next taxable value within the City. The ERAF portion of the City's Levy has been subtracted where known.
(4) Redevelopment Rate is based on the largest RDA tax rate ar ea (TRA) and includes only rate(s) from indebtedness adopted prior to 1989 per California state statute.
RDA direct and overlapping rates are applied only to the incremental property values. The approval of ABX1 26 eliminated Redevelopment from the State of California for the fiscal year 2012/13 and years thereafter.
(5) Total Direct Rate is the weighted average of all individual direct rates applied by the City preparing the statistical section information and excludes revenues derived from aircraft. Beginning in 2013/14 the Total Direct Rate no longer includes revenue generated from the former redevelopment tax rate areas. Challenges to recognized enforceable obligations are assumed to have been resolved during 2012/13. For the purposes of this report, residual revenue is assumed to be distributed to the City in the same proportions as general fund revenue.
Source: County of Contra Costa Assessor
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Series7 Series3 Series1 Series4 Series5 Series9 Series6 Series2 Series8 278635
City's
Share of General Total
1% Levy Per Obligation Debt Redevelopment Direct
Prop 13 (3) Rate Rate (4 ) Rate (5)
0.28784 0.14000 0.00000 0.41948
0.28784 0.14000 0.00000 0.43929
0.28784 0.14000 0.00000 0.43781
0.28784 0.14000 0.00000 0.43675
0.28784 0.14000 0.00000 0.43591
0.28784 0.14000 0.00000 0.43540
0.28784 0.14000 0.00000 0.43473
0.28784 0.14000 0.00000 0.43394
0.28784 0.14000 0.00000 0.43360
0.28784 0.14000 0.00000 0.42978
279636
CITY OF RICHMOND
Principal Property Tax Payers
Current Year and Nine Years Ago
(In Thousands)
2022-2023 2013-2014
PercentageP e r c e n t a ge
of Total City of Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer T ype of Business Value Ran k Value Value Ran k Value Chevron USA Inc. Industrial $3,324,985 1 18.74% $3,169,347 1 32.26% Guardian KW Hilltop LLC Residen tial 217,031 2 1.22% 146,283 2 1.49% Centerpoint Properties Trust Industrial 149,538 3 0.84 % Hilltop Comm Partners Sub 1 Commercial 110,581 4 0.62%
LIPT Giant Road Inc. Industrial 91,953 5 0.52 %
Richmond Essex, LP Residential 84,362 6 0.48% 72,583 5
Kaiser Industrial 81,457 7 0.46% 72,011 6
IPT Richmond DC LP Industrial 73,535 8 0.41%
Transmontaigne Partners LP Industrial 63,979 9 0.36%
KM Phoenix Holdings LLC Industrial 56,554 10 0.32%
Lennar Emerald Marina Bay LLC Residential 82,848 3 0.84 % US Bank Commercial 76,413 4 0.78 %
DDRM Hilltop Plaza LP Commercial 41,748 7 0.42%
Auto Warehousing Company Unsecured 40,752 8 0.41%
Dicon Fiberoptics Inc Industrial 40,640 9 0.41%
Ford Point LLC Industrial 38,825 10 0.40%
Subtotal $4,253,97 5 23.98% $3,781,450 38.49 %
Total Net Assessed Valuation:
Fiscal Year 2022-2023 $17,742,515
Fiscal Year 2013-2014 $9,825,242
Source: Contra Costa County Assessor Fiscal Year Combined Tax Rolls and the SBE Non Unitary Tax Roll 280637
CITY OF RICHMOND
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
(In Thousands)
##
##
##
Percent of
Voter Total Total Ta x
Fiscal 1% Tax Approve Debt Ta x Collections
Year Roll (1) Tax Rolls (2) Collections (3) to Tax Levy 2014 27,289 13,26 7 40,556 100 %
2015 29,392 14,225 43,61 7 100%
2016 31,490 18,07 1 49,561 100%
2017 33,152 19,618 52,770 100 %
2018 33,780 20,48 1 54,261 100%
2019 36,116 22,078 58,194 100 %
2020 36,435 22,513 58,948 100 %
2021 37,506 23,47 7 60,983 100 %
2022 36,930 23,269 60,199 100 %
2023 39,634 26,01 1 65,645 100 %
Source: City of Richmond Records
NOTES: (1) The maximum tax rate is 1% of the assessed value or $1/$100 of the assessed value, excluding the tax rate for debt.
(2) Voter approved tax roll for debt is in addition to the 1% rate shown in note (1). (3) During fiscal year 1995, the County began providing the City 100% of its tax levy under an agreement which allows the County to keep all interest and delinquency charges collected. $0.0
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
$70.0
$80.0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
1% Tax Roll (1) Tax Collections (3)
281638
Fiscal Year Ended June 30
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Cable TV Users 983,465$ 1,016,552 $ 988,547 $ 924,912 $ 1,036,854 $ 1,025,549 $ 951,147 $ 961,286 $ 975,219 $ 909,810 $ Gas & Electric 8,787,715 9,003,928 9,966,642 11,433,006 11,250,415 11,404,175 11,416,601 13,118,252 14,833,325 17,686,168 Telephone 5,183,418 4,807,499 4,093,128 3,668,092 3,300,001 2,910,450 2,621,565 2,302,969 2,065,243 2,124,673 Operations 20,079,108 20,471,979 21,004,080 21,209,540 22,884,443 23,230,610 23,351,283 24,657,999 26,330,964 29,785,913 UUT Settlement 13,000,000 13,000,000 7,000,000 7,000,000 7,000,000 7,000,000 7,000,000 4,000,000 4,000,000 4,000,000 Prepaid Wireless 312,852 730,939 608,042 335,153 211,927 200,199 168,836 169,459 Combined (A)
48,033,706$ 48,299,958 $ 43,365,249 $ 44,966,489 $ 46,079,755 $ 45,905,937 $ 45,552,523 $ 45,240,705 $ 48,373,587 $ 54,676,023 $ NOTES:
(A) Components of collections by type are not available, therefore amount represents total UUT collections for the fiscal year, and these amounts have been excluded from the graph
SOURCE: City of Richmond, Finance Department (Revenue)
CITY OF RICHMOND
UTILITY USERS TAX COLLECTIONS
LAST TEN FISCAL YEARS
$0
$5
$10
$15
$20
$25
$30
$35
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Cable TV Users Gas & Electric Telephone Operations UUT Settlement Prepaid Wireless 282639
CITY OF RICHMOND
UTILITY USERS TAX DIRECT RATES
ON CHARGES FOR SERVICES
LAST TEN FISCAL YEARS (A)
2014 2015 2016 2017 2018 2019 2020 202 1 2022 2023
Cable TV Users 5% 5% 5% 5% 5% 5% 5% 5% 5% 5%
Gas & Electric 10 % 10% 10% 10% 10% 10% 10% 10% 10% 10% Telephone 9.50% 9.50% 9.50% 9.50% 9.50% 9.50% 9.50% 9.50% 9.50% 9.50% Operations (A) (A) (A) (A) (A) (A) (A) (A) (A) (A)
UUT Settlement (B) (B) (B) (B) (B) (B) (B) (B) (B) (B)
NOTES:
(A) Based on the Cap Provision in th e City of Richmond Municipal Code Section 13.52.100 - Maximum Tax Payable of the Richmond Municipal Code. (B) Annual amount is per agreement signed by a Major Taxpayer and the City in 2010.
SOURCE: City of Richmond, Finance Department (Revenue) 283640
CITY OF RICHMOND
TOP TEN UTILITY USERS TAXPAYERS
(ALPHABETICAL ORDER)
Current Year
Taxpayer Type of Business (A)
CALPINE ENERGY SOLUTIONS Utility
CHEVRON Industrial
COMCAST Cable
CONSTELLATION NEW ENERGY Utilit y
DIRECT ENERGY Utilit y
GTE MOBILNET OF CALIFORNIA LTD Telecommunication s
MARIN CLEAN ENERGY Utilit y
NEW CINGULAR WIRELESS Telecommunication s
PACIFIC BELL Telecommunication s
PG&E Utility
NOTES:
(A) Revenue base information by taxpayer is confidential.
SOURCE: City of Richmond, Finance Department (Revenue) 284641
CITY OF RICHMOND
Ratio of Outstanding Debt by Type
Last Ten Fiscal Years
Governmental Activities
Tax Pension Loans
Fiscal Allocation Obligation Revenue and Notes Capital
Year Bonds Bonds Bonds Payable Leases Total
2014 (B) 157,555,624 87,121 ,545 2,631,887 11,186,685 258,495,741 2015 (B) 156,491,679 87,121 ,545 12,970,813 9,295,123 265,879,160 2016 (B) 155,070,539 115,21 8,619 2,143,560 7,944,891 280,377,609 2017 (B) 153,058,033 113,27 5,266 1,993,820 6,872,843 275,199,962 2018 (B) 150,485,289 111,24 1,920 1,844,775 8,650,840 272,222,824 2019 (B) 147,275,826 109,09 8,574 1,287,277 7,640,339 265,302,016 2020 (B) 144,339,640 107,666, 888 1,156,441 6,661,805 259,824,774 2021 (B) 140,816,305 103,543, 450 1,023,224 5,642,605 251,025,583 2022 (B) 136,976,076 99,240,0 12 1,023,224 4,209,138 241,448,449 2023 (B) 154,140,000 94,726 ,574 749,584 6,462,613 256,078,770 Business-Type Activities
Wastewater Port Lease Loans Total Percentage
Fiscal Revenue Revenue and Notes Primary of Personal Per Year Bonds Bonds Payable Total Government Income (A) Capita (A) 2014 89,012,056 44,944,399 2,935,889 13 6,892,344 395,388,085 14.54% 3,725 2015 86,867,520 41,984,610 2,861,189 13 1,713,319 397,592,479 14.68% 3,737 2016 84,637,983 39,354,875 2,783,127 12 6,775,985 407,153,594 14.84% 3,689 2017 82,313,447 36,588,791 3,401,553 12 2,303,791 397,503,753 14.21% 3,556 2018 111,698,772 33,587,707 3,316,308 148,602,787 420,8 25,611 14.41% 3,792 2019 144,811,738 30,331,623 3,227,227 178,370,588 443,6 72,604 14.65% 4,017 2020 141,391,552 17,940,892 3,134,137 162,466,581 422,2 91,355 13.03% 3,797 2021 137,886,366 13,604,419 3,338,388 154,829,173 405,8 54,756 12.53% 3,649 2022 134,416,180 9,112,946 15,229,299 15 8,758,424 400,206,873 11.72% 3,634 2023 130,825,994 4,451,473 35,314,142 17 0,591,609 426,670,379 12.05% 3,727 Notes: Debt amounts exclude any premiums, discounts, or other amortization amounts. (A) See Demographic Statistics for pe rsonal income and population data. (B) Due to the dissolution of the Redeve lopment Agency, the Tax Allocation Bonds and the Loans and Notes Payable that were related to the Redevelopment Agency were transferred to the Successor Agency as of February 1, 2012 and are no longer governmental commitments.
(C) With the implementation of GASB Statement No. 65, the deferred amount on refunding previously reported as a component of the long-term debt balance is not reported as a deferred inflows of resources.
Sources: City of Richmond
State of California, Department of Finance (population) U.S. Department of commerce, Bureau of the Census (income) 0 50,000,000
100,000,000
150,000,000
200,000,000
250,000,000
300,000,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Governmental Total Business
285642
CITY OF RICHMOND
COMPUTATION OF LEGAL BONDED DEBT MARGIN
JUNE 30, 2023
ASSESSED VALUATION:
Secured property assessed value, net of
exempt real property $17,742,515,000
BONDED DEBT LIMIT (3.75% OF ASSESSED VALUE) (a) $665,344,313 AMOUNT OF DEBT SUBJECT TO LIMIT:
Total Bonded Debt $0
Less Tax Allocation Bonds and Sales Tax Revenue
Bonds, Certificate of Participation not subject to limit 0 Amount of debt subject to limit 0
LEGAL BONDED DEBT MARGIN $665,344,313
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
2014 368,446,575 0 368,446,575 0.00%
2015 440,390,400 0 440,390,400 0.00%
2016 480,061,088 0 480,061,088 0.00%
2017 507,715,613 0 507,715,613 0.00%
2018 528,071,513 0 528,071,513 0.00%
2019 571,313,100 0 571,313,100 0.00%
2020 588,625,125 0 588,625,125 0.00%
2021 613,927,575 0 613,927,575 0.00%
202
2 614,884,800 0 614,884,800 0.00 %
2023 665,344,313 0 665,344,313 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.
286643
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 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 3 5,240,000 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 2023 31,156,875 13,172,834 17,984,041 2,600,000 5,393,712 7,993,712 2.25 Notes: (1) Includes all Municipal Sewer Operating Revenues 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Coverage
287644
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 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 2023 12,347,504 2,148,773 10,198,731 4,270,000 5,393,712 9,663,712 1.06 Notes: (1) Includes all Port of Richmond 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Coverage
288645
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 Covera ge
2014 16,776,169 (4) 5,030,000 5,461,989 10,491,989 1.60 2015 17,206,306 (4) 2,930,000 4,500,409 7,430,409 2.32
2016 19,953,198 (4) 6,180,000 4,445,674 10,625,674 1.88 2017 14,156,746 (4) 6,395,000 4,653,678 11,048,678 1.28 2018 12,255,069 (4) 7,575,000 4,746,564 12,321,564 0.99 2019 10,714,239 (4) 7,895,000 4,662,021 12,557,021 0.85 2020 10,720,489 (4) 8,820,000 4,244,580 13,064,580 0.82 2021 12,927,768 (4) 12,949,294 4,128,651 17,077,945 0.76 2022 8,306,100 (4) 6,645,000 2,052,525 8,697,525 0.95
2023 8,846,005 (4) 6,590,000 1,832,049 8,422,049 1.05
Note: (1) Includes the 1991, 1998, 2000, 2003, 2004, 2007, 2010, 2014 and 2021 Bonds. (4) 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
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Tax Increment Revenue Debt Service Payment
289646
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 Bonde d
Fiscal Bonds Cash and Bond s Net Assessed Assessed Value Debt per Year Outstanding Investments (2) Outstanding Value of Property of Property Capit a 2014 157,555,624 8,089,647 149,465, 977 8,230,209,000 1.82% 1,408 2015 156,491,679 8,148,121 148,343, 558 9,943,913,000 1.49% 1,394 2016 155,070,539 8,936,523 146,134, 016 10,745,818,000 1.36% 1,324 2017 153,058,033 9,777,863 143,280, 170 11,290,341,000 1.27% 1,282 2018 150,485,289 9,844,431 140,640, 858 11,514,846,000 1.22% 1,267 2019 147,275,826 10,041,550 137,2 34,276 12,342,193,000 1.11% 1,243 2020 144,339,640 11,315,256 133,0 24,384 12,521,376,000 1.06% 1,196 2021 140,816,305 11,845,153 128,9 71,152 13,196,108,000 0.98% 1,160 2022 136,976,076 12,779,202 124,1 96,874 13,221,634,000 0.94% 1,128 2023 154,140,000 234,805 153,905, 195 13,649,321,000 1.13% 1,344 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
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Series1
290647
CITY OF RICHMOND
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
JUNE 30, 2023
2022-2023 Assessed Valuation: $17,831,813,609
Total Debt City's Share of Debt
OVERLAPPING TAX AND ASSESSMENT DEBT: June 30, 2023 % Applicable (1) June 30, 2023 Bay Area Rapid Transit District $2,484,285,000 1.872% $46,505,815 Contra Costa Community College District 649,015,000 7.091% $46,021,654 West Contra Costa Unified School District 1,188,146,381 45.789% $544,040,346 West Contra Costa Healthcare District Parcel Tax Obligations 43,000,000 43.177% $18,566,110 East Bay Regional Park District 175,955,000 2.964% $5,215,306 City of Richmond Community Facilities District No. 1998-1 1,560,000 100% $1,560,000 City of Richmond 1915 Act Bonds 3,995,000 100% $3,995,000 California Statewide Community Development Authority 1915 Act Bonds 1,321,866 100% $1,321,866 TOTAL NET OVERLAPPING TAX AND ASSESSMENT DEBT 667,226,097 DIRECT AND OVERLAPPING GENERAL FUND DEBT:
Contra Costa County General Fund Obligations $193,515,000 7.068% 13,677,640 Alameda-Contra Costa Transit District Certificates of Participation 11,220,000 5.544% 622,037 West Contra Costa Unified School District Certificates of Participation 4,850,000 45.789% 2,220,767 Cit
y of Richmond General Fund Obligations 85,835,000 100 % 85,835,000 City of Richmond Pension Obligations Bonds 154,140,000 100 % 154,140,000 TOTAL DIRECT AND OVERLAPPING GENERAL FUND OBLIGATION DEBT 256,495,444 Less: Contra Costa County general fund obligations supported by revenue funds 3,599,687 City of Richmond obligations supported by port revenues 4,060,000 TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND OBLIGATION DEBT 248,835,757 OVERLAPPING TAX INCREMENT DEBT (Successor Agency) $38,270,923 100% 38,270,923 TOTAL GROSS DIRECT DEBT $239,975,000
TOTAL NET DIRECT DEBT $235,915,000
TOTAL GROSS OVERLAPPING DEBT $722,017,464
TOTAL NET OVERLAPPING DEBT $718,417,777
GROSS COMBINED TOTAL DEBT $961,992,464 (2)
NET COMBINED TOTAL DEBT $954,332,777
(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 2022-23 Assessed Valuation:
Total Overlapping Tax and Assessment Debt 3.74%
Ratios to Adjusted Assessed Valuation:
Gross Total Direct Debt ($163,777,525) 1.35%
Net Total Direct Debt ($151,347,525) 1.32%
Gross Combined Total Debt 5.39%
Net Combined Total Debt 5.35%
Ratios to Redevelopment Successor Agency Incremental Valuation ($4,093,193,500):
Total Overlapping Tax Increment Debt 0.93%
____________________________
Source: California Municipal Statistics, Inc.
291648
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 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 110,967 2,920,370,000 26,317 4.6% 1,147,439 9.67%
2018 110,436 3,027,471,000 27,413 3.6% 1,150,215 9.60%
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%
2022 113,518 4,107,076,000 36,180 4.1% 1,156,966 9.81%
Source: HdL, Coren & Cone
0.00%
2.50%
5.00%
7.50%
10.00%
12.50%
15.00%
17.50%
20.00%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Series1
5.00%
6.00%
7.00%
8.00%
9.00%
10.00%
11.00%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Series1
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Series1
$0
$10,000
$20,000
$30,000
$40,000
$50,000
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Per Capita Personal Income
292649
CITY OF RICHMOND
Principal Employers
Current Year and Nine Years Ago
2022-2023 2013-2014
Percentage Percentage
Number of of Total City Number of of Total City
Employer Employees Rank Employment Employees Rank Employment Chevron Refinery 3,157 1 2.9% 2,317 1 2.2%
Social Security Administration 1,759 2 1.6% 1,259 3 1.2% West Contra Costa Unified School District 1,545 3 1.4% 1,580 2 1.5% Kaiser Foundation Hospitals 1,442 4 1.3% 506 8 0.5%
United Parcel Service 1,332 5 1.2%
Amazon.com Services 1,121 6 1.0%
The Permanente Medical Group 1,051 7 1.0% 686 7 0.6%
City of Richmond 901 8 0.8% 803 6 0.8%
U.S. Postal Service 489 9 0.5% 1,047 4 1.0%
Contra Costa County 472 10 0.4% 844 5 0.8%
Bio-RAD Laboratories 473 9 0.4%
Michael Stead Auto Depot & Sales 472 10 0.4%
Subtotal 13,269 12.2% 9,987 9.4%
Total City Day Populatio
n 108,416 106,138
Source: City of Richmond
293650
CITY OF RICHMOND
Full-Time Equivalent City Government Employees by Function Last Ten Fiscal Years
Adopted for Fiscal Year Ended June 30
2013 2014 2015 201 6 2017 201 8 2019 2020 202 1 2022 2023 (re-stated)
Function
General government 102.9 104.4 105. 2 99.8 105.4 116.5 114.7 124.7 113.1 120.1 129.0 Public safety 388.0 398.0 390.0 3 75.5 349.0 341.0 340.0 342.0 309.0 303.0 304.0 Public works 113.0 116.0 109.0 112.0 14 4.0 143.0 148.0 145.0 171.5 191.4 165.2 Community development 66.0 64.0 5 6.0 59.5 41.0 40.0 41.0 42.0 7.0 5.0 41.0 Cultural and recreational 73.2 76.8 66.0 59.0 57.0 59.1 61.7 61.7 58.1 60.7 61.7 Housing and redevelopment 13.0 12.0 10.0 5.9 3.8 3.8 3.8 3.8 2.8 2.0 0.0 Richmond Housing Authority
and RHA Properties 25.0 29.0 2 5.0 23.0 19.0 19.0 20.0 5.3 4.0 7.0 7.0 Port of Richmond 6.0 6.0 6.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 3.0 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 787.1 806.2 767.2 738.7 723.2 726.4 733.2 728.5 669.5 693.2 710.9 Source: City of Richmond Budget
Notes:
(1) These services are provided by outside contractors. (2) Convention Center closed during renovation and staff moved under cultural and recreational. (3) Staff that perform these functions are included under General Government and Cultural and Recreational. (100)
0 100
200
300
400
500
600
700
800
900
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
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 294651
CITY OF RICHMOND
Operating Indicators by Function/Program
Last Ten Fiscal Years
2014 2015 2016 2017 201 8 2019 2020 202 1 2022 2023
Function/Program
Public safety:
Fire:
Fire calls for service 12,988 13,670 14,497 14,372 14,375 13,900 14,318 18,150 18,210 14,020 Primary fire inspections conducted 3,00 0 1,569 1,134 1,160 5,378 3,929 2,919 3,320 1,510 1,082 Number of firefighters 85 94 91 90 91 90 89 89 89 91
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 1.7 1.8 1.7 1.6 1.6 1.6 1.6 1.3 1.3 1.3 Number of sworn officers 186 196 185 182 178 178 178 157 145 146 Water
Daily average consumption
in gallons per family 250 250 250 250 250 250 160 194 145 140 Source
: City of Richmond
295652
2014 2015 2016 2017 2018 2019 2020 20 21 2022 2023
Function/Program
Public safety:
F i r e s t a t i o n s 7777777 7 7 7
P o l i c e s t a t i o n s 4444444 4 4 1
L i b r a r y ( # ) o f L o c a t i o n s 333333 3 3 3 3 Public works
Miles of streets 280 280 280 280 280 280 290 280 289 280 Street lights 6,543 8,343 8,543 9,000 9,000 9,000 7,801 9,000 9,000 9,000 Urban Forest (trees) (a) 21,609 22,009 35,620 35,782 36,231 36,499 36,766 36,700 38,000 37,000 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 6 5 5
City parks acreage 336.6 336.6 336.6 336.6 336.6 336.6 336.6 336.6 340.0 336.6 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 1 1 1 1 1 1 1 1 0 0
Recreation centers 8 8 8 8 8 8 8 8 8 8
Auditorium/Theater 1 1 1 1 1 1 1 1 1 1
Gymnasiums 3 3 3 3 3 3 3 3 2 3
S e n i o r c e n t e r s 222222 2 2 2 2
Headstart centers/day cares 6 6 6 6 6 6 6 6 6 6
Putting green 1 1 1 1 1 1 1 1 0 0
Basketball courts 28 28 28 28 28 28 28 28 28 28
Swimming pools 2 2 2 2 2 2 2 2 2 2
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 2 2 2 2 2 2 2 2 0 0
Water
Fire hydrants 3,153 3,153 3,153 3,153 3,153 3,153 3,153 3,153 2,163 2,787 Wastewater
Miles of sanitary sewers 183 183 183 183 183 230 189 194 194 194 Miles of storm sewers 310 310 310 310 310 310 198 310 173 310 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
296653
February 6, 2023
Human Resources
DATE: February 6, 2024
TO: Mayor Martinez and Members of the City Council
FROM:
Nickie Mastay, Deputy City Manager, Internal Services
Sharrone Taylor, Director of Human Resources
Subject:
Raftelis Workforce Analysis Update
FINANCIAL IMPACT: N/A
PREVIOUS COUNCIL
ACTION:
Click or tap here to enter text.
STATEMENT OF THE
ISSUE:
Raftelis will present a PowerPoint presentation to provide an update to City Council regarding the Workforce
Analysis as required by the State Auditor Corrective
Action Plan Item #6.
RECOMMENDED ACTION:
RECEIVE a presentation from Raftelis regarding an
update on the Workforce Analysis – Human Resources
Department (Nickie Mastay/Sharrone Taylor 510-620-
6606).
DISCUSSION:
Rafetlis will present a PowerPoint to provide an update regarding the Workforce Analysis.
DOCUMENTS ATTACHED:
None
AGENDA
REPORT
654
February 6, 2024
Public Works
DATE: February 6, 2024
TO: Mayor Martinez and Members of the City Council
FROM:
Daniel Chavarria, Director of Public Works
Tawfic Halaby, Deputy Director of Public Works –
Operations & Maintenance
Robert Chelemedos, Streets Maintenance Supervisor
Subject:
Overview of the City’s Roadway Pavement Condition
FINANCIAL IMPACT: There is no financial impact to this item.
PREVIOUS COUNCIL
ACTION:
In 2006, City Council allocated additional funds to the paving program, resulting in an improved pavement
network condition. In 2011 and 2013, City Council
received updates on the City’s pavement management
system. In 2015, City Council considered allocating
Measure U funds for a city-wide pavement bond.
STATEMENT OF THE
ISSUE:
This report provides an overview of the City of
Richmond’s pavement management program and the
results of the recent pavement condition survey.
RECOMMENDED ACTION:
RECEIVE a report on the status of the City’s roadway
pavement condition; and DIRECT staff to utilize the
StreetSaver® pavement management system to optimize
the use of paving funds for the upcoming Fiscal Year
2024-25 – Public Works Department (Daniel Chavarria
510-620-5478/Tawfic Halaby 510-620-5482).
DISCUSSION:
The City of Richmond is responsible for approximately 290 centerlines of roadway pavement, roughly equivalent to a 12-foot-wide road that extends from Richmond, CA to Vancouver, Canada. The cost to replace the entire roadway pavement network is currently estimated at approximately $742 million.
AGENDA
REPORT
655
February 6, 2024
All roadway pavement surfaces deteriorate over time. A successful pavement management program takes advantage of this principle and utilizes optimization techniques to implement less costly preventive maintenance treatments on less deteriorated streets, to keep them in good condition. More heavily deteriorated streets require more costly rehabilitation treatments, and failed streets require very expensive reconstruction treatments. In asset management terms, this is referred to as the “pay now or pay more later” paradigm.
Many factors contribute to pavement deterioration, including age, exposure to sunlight and rain, heavy traffic loads from buses and trucks, and utility cuts. Most of these factors are beyond the control of the City. However, since the pavement is within the public right-of-way, the City has sought to reduce the damage caused to the roadway pavement surface due to utility cuts for sewer, water, gas, electric, and telecommunications lines. The City requires pavement restoration after utility work is completed, and Richmond Municipal Code Section 12.29 discourages excavating in newly resurfaced streets by imposing extra work on utility companies to restore the pavement to a higher standard than would otherwise be required on a street that is not newly resurfaced.
The Metropolitan Transportation Commission (MTC) requires all Bay Area municipalities to utilize an approved pavement management program to prioritize paving resources, as a condition for receiving regional, state, and federal funding for pavement maintenance and rehabilitation. The City has been utilizing the MTC StreetSaver® software platform for approximately 20 years.
The City’s consultant recently completed a city-wide pavement distress survey. The survey results indicate that the City of Richmond’s roadway pavement network has an overall weighted Pavement Condition Index (PCI) of 61. The PCI is a numeric grade that rates the condition of the roadway pavement surface, on a scale of 100 to 0, with 100 representing a brand-new pavement and 0 representing a completely failed pavement. A pavement network with an overall PCI of 61 is considered to be in “fair” condition (refer to table below). Each street segment in Richmond’s roadway pavement network received a PCI based on the observed condition of the segment.
Pavement Condition
Index (PCI)
Condition
0-25 Failed / Very Poor
25-50 Poor
50-70 Fair
70-100 Good / Very Good
The MTC StreetSaver® software platform includes budget analysis capabilities to help cities look at possible future pavement conditions based on different funding scenarios.
This can help the City Council decide how much to invest in the roadway pavement network. Current projections indicate that at the anticipated pavement rehabilitation funding level of $4 million per year, the PCI will decrease over the course of the next 656
February 6, 2024
five years to 55. In order for the City’s PCI to remain at the current level of 61, City staff recommend the City Council direct City staff to allocate an additional $11 million per year above and beyond the anticipated budget, for a sum total of approximately $15 million per year for the next five years.
StreetSaver® provides a planning level, prioritized list of streets representing the optimized distribution of paving funds. This “optimized” list will yield the highest PCI at the end of the five-year planning horizon.
DOCUMENTS ATTACHED:
Attachment 1 – Pavement Presentation from NCE
657
CITY COUNCIL
FEBRUARY 6, 2024
PAVEMENT MANAGEMENT
PROGRAM UPDATE
658
What Does the City Own/Maintain?
2 Asset value = $742 million
% of the Entire Network
(by Pavement Area)
Centerline MilesFunctional Class
26.372.6Arterials
37.4103.7Collectors
36.3113.1Residentials
100%289.4Totals
659
City of Richmond ExamplesDescriptionFunctional Class
Hilltop Drive23rd Street
Major roads, connectivity to regional
corridors and state highwaysArterial Richmond ParkwayBarrett Avenue San Pablo AvenueCutting Boulevard
Potrero AvenueCanal BoulevardBus routes, lead from residential streets to local destinations and
Arterial streets
Collector Regatta BoulevardKey Boulevard
Valley View DriveMarina Way
Most of the Numbered Streets
Short distance travel, residential
streets, dead-end streets
Residential/
Local
Florida AvenueBuckboard Way
Lincoln AvenueClinton Avenue
Santa Clara StreetDeseret Drive
660
What are Street Conditions?
4 0
100
70 50
25 Very Poor/Failed
Poor
Good/Very Good
Fair
Condition Category
Pavement Condition Index (PCI)
61 Network PCI = 61
Very Good,
36.5%
Fair, 31%
Poor, 25.2%
Very
Poor,
7.3%
661
5 PCI = 90
Treatment: Do Nothing
662
6 PCI = 75
Treatment: Crack & Slurry Seal
663
7 PCI = 61
Treatment: Base Repairs & Overlay
This is what an average PCI of 61 looks like
664
8 PCI = 40
Treatment: Mill and Overlay
665
9 PCI = 25
Treatment: Surface Reconstruction
666
How Does Richmond Compare With Other Cities?
10 53
57 57
57 61
65 67
70 72
75 83
0 1 02 03 04 05 06 07 08 09 0 1 0 0
Oakland
Berkeley
Pinole
Albany
Richmond
Statewide
Hercules
San Pablo
El Cerrito
Emeryville
Orinda
PCI
667
How Much Do Repairs Cost?
11 PCI = 70
PCI = 50
PCI = 25
PCI = 100
PCI = 0
40% 75% 90%
Slurry Seal
$3.50/SY
Microsurfacing or Mill & Thin
Overlay $7.00 – $55.50/SY
Mill & Thick Overlay
$91.00/SY
Surface Reconstruct
$148.00/SY
% of Pavement Life
Pavement Condition
Very Good Good Poor Very Poor
668
Importance of Preventive Maintenance
Good
Fair
Poor
Failed
Pavement Condition Index
% of Pavement Life
100
75 50
25 20%0% 40% 60% 80% 100%
$3.50/sy
Residents
experience a
higher level of
service & City
saves money
669
Reconstruction Is Not As Cost-Effective
Pavement Condition Index
% of Pavement Life
100
75 50
25 20%0% 40% 60% 80% 100%
$148/sy
Good
Fair
Poor
Failed
Waiting until the
end to reconstruct
is more expensive
and residents
experience a lower
level of service for
10+ years
670
Funding Scenarios
14 Budget Needs: $210 M over 10 years
Current Funding: $4M/YearCurrent Funding: $4M/Year
Increase Current Funding to $6M/YearIncrease Current Funding to $6M/Year Maintain PCI at 61: $15M/Year
Maintain PCI at 61: $15M/Year
671
Current Funding Level : $4M/Year
$153.0
$370.7
62 60 58 57 55 53 51 49 48 46
0 10
20 30
40 50
60 70
80 90
100
$-
$50
$100
$150
$200
$250
$300
$350
$400
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
PCI
Deferred Maintenance ($M)
Year
Deferred Maintenance ($M) PCI
672
Current Funding Level ($4M)+ $2M/Year
$151.0
$336.0
63 61 59 58 56
54 53 51 50 49
0 10
20 30
40 50
60 70
80 90
100
$-
$50
$100
$150
$200
$250
$300
$350
$400
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
PCI
Deferred Maintenance ($M)
Year
Deferred Maintenance ($M) PCI
673
Maintain PCI at 61: $15M/year
$142.0
$210.2
64 63 62 61 61 60 60 61 61 61
0 10
20 30
40 50
60 70
80 90
100
$-
$50
$100
$150
$200
$250
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
PCI
Deferred Maintenance ($M)
Year
Deferred Maintenance ($M) PCI
674
Maintain PCI at 61: $15M/year (Worst First)
$151
$301
63 62 61 61 61 61
60 59 59 58
0 10
20 30
40 50
60 70
80 90
100
$-
$50
$100
$150
$200
$250
$300
$350
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
PCI
Deferred Maintenance ($M)
Year
Deferred Maintenance ($M) PCI
Worst First with equal distribution among council districts 675
• Gas Tax
• Transportation
Development Act (TDA)
• State Transportation
Improvement Program
(STIP)
• Vehicle Registration Fees
• CalRecycle
• Traffic Congestion Relief
Fund
• General Fund
• Local Transportation
Fund
• Parcel Tax
• Sales Tax/Local Measure
• Impact Fees
• Development
• Waste Vehicle
• Utility Cut
• Traffic
Typical Funding Sources
• Regional Surface
Transportation Program
(RSTP)
• Community
Development Block
Grant (CDBG)
• Surface Transportation
Program (STP)
• Bipartisan Infrastructure
Investment and Jobs Act
(IIJA)
Federal State Local
676
Utility Cuts Heavy/ Waste Vehicles
Pavement Damage = Higher Maintenance Cost
𝐷𝑎𝑚𝑎𝑔𝑒 𝛼 𝑃𝑎𝑦𝑙𝑜𝑎𝑑 ସ
677
Source: Solid Waste Collection Fees
Allocate a Portion of the Franchise Fees Specifically for Pavement Rehabilitation
Potential Additional Pavement Rehabilitation Revenues
678
Margot Yapp, P .E.
President
[email protected]
510.215.3620
22 679