ROCKLIN CITY COUNCIL
City Council Regular Meeting
City Hall - Council Chambers
3970 Rocklin Rd. Rocklin, CA
95677
Website:
www.rocklin.ca.us
February 27, 2024
General Session 6:00 p.m.
GREG JANDA,
Mayor
JILL GAYALDO,
Vice Mayor
DAVID BASS,
Council Member
KEN BROADWAY,
Council Member
BILL HALLDIN,
Council Member
ALY ZIMMERMANN,
City Manager
MATTHEW MCOMBER,
City Attorney
DANIEL CHOE,
City Treasurer
AVINTA SINGH,
City Clerk
HOW TO PARTICIPATE
The City of Rocklin welcomes your interest and involvement in the City's legislative process. The City Council has established a procedure for addressing the Council. Persons wishing to address the City Council are asked to voluntarily complete and submit a speaker identification sheet to the City Clerk.
Speaker identification sheets are available near the entrance of the Council Chambers. For items listed on the agenda, any person may address the City Council at the time the item is considered. Speakers are requested to restrict their comments to the item as it appears on the agenda and stay within the required five minute time limit. The Brown Act does not permit the City Council to take action on items brought up under Citizens Addressing the City Council.
WRITINGS RECEIVED AFTER AGENDA POSTING
Any writing or documents related to an agenda item for this meeting provided to the City Council, Public Financing Authority or Successor Agency will be made available for public inspection at City Hall, 3970 Rocklin Road, Rocklin, during normal business hours.
AMERICANS WITH DISABILITIES ACT
In compliance with the Americans with Disabilities Act, if you require special assistance to participate in this meeting or other services in conjunction with this meeting, including receiving notices, agendas, and other writings in appropriate alternative formats, please contact our office at (916) 625- 5560 at least 48 hours prior to the meeting or time when services are needed so that we may make every reasonable effort to accommodate you.
AUDIO/VISUAL PRESENTATIONS
If making a presentation regarding an agenda item, all audio/visual materials must be submitted to the City Clerk or Secretary at least 72 hours in advance. The City is not responsible for the compatibility or operation of non-city devices or the functionality of non-city presentations.
POSTING OF AGENDA
In accordance with Government Code Section 54954.2(a) this agenda was posted on the City's bulletin board at City Hall, 3970 Rocklin Road, Rocklin, and City of Rocklin website at www.rocklin.ca.us.
City Council Regular Meeting Agenda of February 27, 2024 1 The public may listen to audio or view the meeting via live stream at https://www.rocklin.ca.us/agendas-minutes
.
For those that do not plan on attending in person, but wish to make a public comment during the meeting, public comments will be accepted in email form until 3:00 p.m. on the meeting day. Public comments should be submitted to the City Clerk at [email protected]
. Emailed public comments will be distributed to City Council and treated as a public record.
This is an opportunity for public comment on matters not listed on the agenda. Public comment on items listed on the agenda will be taken when the agenda item is called.
1. REPORTS FROM CITY COUNCIL AND CITY MANAGER
Reports from the City Council will include any AB1234 Reports.
2. CONSENT CALENDAR
All items listed under the Consent Calendar are considered and acted upon by one Motion. Anyone may request an item be removed for separate consideration. 2A.
Minutes of the February 13, 2024 Regular Meeting of the City Council 2B.
Accounts Paid List - October to December 2023
2C.
Annual Comprehensive Financial Report and GANN Appropriations Limit Schedule for the Fiscal Year ended June 30, 2023
AGENDA
MEETING
INSTRUCTIONS
CALL TO ORDER
PLEDGE OF ALLEGIANCE
ROLL CALL
AGENDA REVIEW
CITIZENS ADDRESSING THE CITY COUNCIL
Recommendation:
Approve the Minutes of the February 13, 2024 Regular
Meeting of the City Council.
Recommendation:
Receive the Accounts Paid List for October 1, 2023 to
December 31, 2023.
Recommendation:
Adopt a Resolution of the City Council of the City of Rocklin Accepting the Annual Comprehensive Financial Report and GANN Appropriations Limit Schedule for the Fiscal Year Ended June 30, 2023.
City Council Regular Meeting Agenda of February 27, 2024 2 2D.
Single Audit Report for the Fiscal Year Ending June 30, 2023 2E.
Quarterly Treasurer's Report
2F.
ParcelQuest Purchase Agreement To Provide Online Property Data And Related Services
2G.
Various Personnel Updates
2H.
City of Rocklin 2024 Grazing Services
2I.
Twin Oaks Park Snack Bar Roof Repair Contract
Recommendation:
Adopt a Resolution of the City Council of the City of Rocklin Accepting and Approving the Single Audit Report for the Year Ended June 30, 2023.
Recommendation:
Receive the Treasurer's Report for the Quarter Ending
December 31, 2023.
Recommendation:
Adopt a Resolution of the City Council of the City of Rocklin Authorizing the City Manager to Execute a 3-year Purchase Agreement with ParcelQuest to Provide the City with the Most Current California Property Data Available Online and Related Services.
Recommendation:
A
.
Adopt a Resolution of the City Council of the City of Rocklin to Approve the Temporary Positions Salary Schedule.
B
.
Adopt a Resolution of the City Council of the City of Rocklin to Approve a Side Letter of Agreement to the Memorandum of Understanding Between the City of Rocklin and the Rocklin Firefighter’s Union to Modify Section V, Article 34, Subsection IV(a) Employee Performance Evaluations/Step Increases.
Recommendation:
A
.
Adopt a Resolution of the City Council of the City of Rocklin Rescinding Resolution No. 2023-217 Awarding the Bid for the 2024 Grazing Services.
B
.
Adopt a Resolution of the City Council of the City of Rocklin Awarding the Contract for the City of Rocklin 2024 Grazing Services to Blue Tent Farms LLC and Authorizing the City Manager to Execute an Agreement with Blue Tent Farms LLC.
Recommendation:
Adopt a Resolution of the City Council of the City of Rocklin Approving Amendment No. 2 to the Agreement for the Twin Oaks Snack Bar Roof with Building Concepts Construction Company and Authorizing the City Manager to Execute Amendment No. 2.
City Council Regular Meeting Agenda of February 27, 2024 3 2J.
Five Star Boulevard, Destiny Drive, and Mission Hills Phase IV Reconstruction Project
2K.
Resolution of Intent to Order the Vacation of a Public Street (Yankee Hill Road) 2L.
Sunset Whitney Recreation Area Improvements
2M.
Whitney Community Park Pump Track
3. SPECIAL PRESENTATIONS
In addition to those items listed on the agenda, the Mayor may add additional ceremonial matters.
4. PUBLIC HEARINGS
Public Hearings may be reordered by the Mayor with the consent of the legislative body. 4A.
Fire Safe Vegetation Management
5. DISCUSSION ITEMS
Discussion Items include oral presentations including those recommending "receive and file".
Recommendation:
Adopt a Resolution of the City Council of the City of Rocklin Awarding the Contract for the Five Star Boulevard, Destiny Drive, and Mission Hills Phase IV Reconstruction Project to McGuire and Hester and Authorizing the City Manager to Execute the Construction Agreement.
Recommendation:
Adopt a Resolution of the City Council of the City of Rocklin of Intention to Order the Vacation of a Public Street and Setting a Public Hearing Thereon (Yankee Hill Road).
Recommendation:
Adopt a Resolution of the City Council of the City of Rocklin Awarding a Professional Services Contract for the Sunset Whitney Recreation Area Improvements Project to RSC Engineering, Inc. and Authorizing the City Manager to Execute the Agreement.
Recommendation:
Adopt a Resolution of the City Council of the City of Rocklin Awarding a Construction Contract for the Whitney Community Park Pump Track Project to American Ramp Company and Authorizing the City Manager to Execute the Agreement.
Recommendation:
A
.
Conduct a Public Hearing to Consider Testimony
B
.
Introduce, Waive Full Reading, and Read by Title Only, an Ordinance of the City Council of the City of Rocklin To Amend Sections 1.16.010 Abatement by City, 1.16.020 Procedure for Creation of Nuisance Abatement Lien,
8.10.020 Additional Definitions, and 8.10.030 Classification of Nuisances of the Rocklin Municipal Code to Differentiate Abatement Procedure from Lien Procedure, Provide Additional Definitions and Revise Classification of Nuisances.
City Council Regular Meeting Agenda of February 27, 2024 4 5A.
Fiscal Year 2023/24 Second Quarter: Financial Report, Budget Amendments, and Strategic Plan Update
6. FUTURE AGENDA ITEMS
7. PUBLIC FINANCING AUTHORITY
7A.
Rocklin Public Financing Authority's Audited Basic Financial Statements for the Fiscal Year Ended June 30, 2023
Recommendation:
Adopt a Resolution of the City Council of the City of Rocklin Accepting the Quarterly Financial Report for the Quarter Ended December 31, 2023, and Amending the Fiscal Year 2023/24 Budget.
Recommendation:
Adopt a Resolution of the Public Financing Authority of the City of Rocklin Accepting the Audited Basic Financial Statements for the Fiscal Year Ended June 30, 2023.
ADJOURNMENT
City Council Regular Meeting Agenda of February 27, 2024 5 City Council
Staff Report
Subject:
Minutes of the February 13, 2024 Regular Meeting of the City Council Date:
February 27, 2024
Submitted By:
Avinta Singh, City Clerk
Department:
City Clerk's Office
Recommendation:
Approve the Minutes of the February 13, 2024 Regular Meeting of the City Council.
Item Number 2A.
ATTACHMENTS:
1. DRAFT February 13, 2024 City Council Regular Meeting Minutes 6 DRAFT Meeting Minutes of February 13, 2024 Rocklin City Council 1 | P a g e
REGULAR MEETING OF THE
ROCKLIN CITY COUNCIL
February 13, 2024
GENERAL SESSION at 6:00 p.m.
Council Chambers
3970 Rocklin Road, Rocklin, CA 95677
www.rocklin.ca.us
MEETING MINUTES
-DRAFT-
CALL TO ORDER
Mayor Janda called the meeting to order at 6:00 p.m.
PLEDGE OF ALLEGIANCE
Mayor Janda led the pledge of allegiance.
ROLL CALL
Councilmembers Present: David Bass, Ken Broadway, Jill Gayaldo, Bill Halldin, and Mayor Greg Janda
AGENDA REVIEW
Mayor Janda recommended Public Hearing item 4B. Quarry Row Time Extension/Tentative Subdivision Map be heard before item 4A.
CITIZENS ADDRESSING THE CITY COUNCIL
Brandon Sanders with Sierra Division, Government Affairs PG&E, provided the City Council with a recap on the recent storm events.
1. REPORTS FROM CITY COUNCIL AND CITY MANAGER
Reports from the City Council will include any AB1234 Reports.
Councilmember Halldin reported attendance at the Western Placer Waste Management Authority board meeting; noted that applicants for the General Manager position would be interviewed later this month; and shared he attended the Open House of the new Rocklin office for Assemblyman Joe Patterson.
Vice Mayor Gayaldo reported attendance at the City Selection Rotation Committee meeting; attended the Mosquito Vector Control District meeting; attended the Placer County Law Enforcement Chaplaincy Board Meeting; attended the swearing-in ceremony for a new Rocklin police officer; reported on the Greater Sacramento Economic Council Germany Market Visit where she and the Rocklin contingency including Sierra College 7 DRAFT Meeting Minutes of February 13, 2024 Rocklin City Council 2 | P a g e
President Duncan attended a meeting with the leadership of SMA Solar, whose headquarters was in Rocklin.
Councilmember Bass reported attendance at the Placer County Association of Realtors (PCAR) installation dinner; attended the Chamber of Commerce’s Breakfast event; shared he ran a petition signing event to amend Proposition 47 and thanked Councilmembers Halldin and Broadway for their support. He acknowledged City staff for their hard work during the storm events including response times by Public Works, Police and Fire and was impressed with RFD for their response to an incident at a local restaurant.
Councilmember Broadway reported attendance at a Placer County Transportation Planning Agency (PCTPA) board meeting; attended a PCTPA funding strategy and stakeholder meeting to discuss a potential tax measure for the November ballot; attended the Consolidated Oversight Board meeting; attended the PCAR installation dinner; participated in Victory High School’s mock interviews for students; attended the Placer City and County Officials Dinner; attended the NorCal FLL Robotics Competition in Elk Grove where Rocklin was represented by the Circuit Squad comprised of 7th graders and the Rocklin Robos team comprising of 4th graders; attended the ribbon cutting for Assemblyman Patterson’s Rocklin office; attended the Chamber Government Relations Meeting; participated in the Every 15 Minutes event at Whitney High School; attended the Chamber’s Breakfast meeting; attended the swearing-in ceremony of RPD Officer Milgrom; and emphasized that he received a number of comments from the community on how City staff exceeded expectations on their responsiveness during power outages and downed trees during the storms, underscoring his appreciation to City staff.
Mayor Janda echoed his appreciation to City staff and partners with PG&E, acknowledging that given the scale of the event, it was commendable to have the majority of City services restored in 24 hours. He thanked Interim City Attorney Cucchi, Acting City Clerk Reid and consultant Nell Hessel for their assistance during vacancies and welcomed the new City Attorney and City Clerk.
City Manager Zimmermann welcomed new City Attorney McOmber and City Clerk Madhukansh-Singh to the City team. She reported on the local storm damage from Sunday, February 4, 2024 and on February 5, 2024, including power outages at City facilities and traffic signals; during this time public safety dispatch received 79 calls for police or fire response related to storm impacts. More than 50 trees were lost in City parks, open space and right of way. City Manager Zimmermann expressed her appreciation to City staff who stepped into provide assistance during the incident; and encouraged residents to continue to report any damages resulting from the storms. 8 DRAFT Meeting Minutes of February 13, 2024 Rocklin City Council 3 | P a g e
2. CONSENT CALENDAR
All items listed under the Consent Calendar are considered and acted upon by one Motion. Anyone may request and item be removed for separate consideration. 2A. Appointment of City Clerk
Action: Adopted Resolution No. 2024-040 of the City Council of the City of Rocklin Appointing Avinta Madhukansh-Singh as City Clerk. 2B. Minutes of the January 23, 2024 Regular Meeting of the City Council Action: Approved the Minutes of the January 23, 2024 Regular Meeting of the City Council.
2C. Appointment to the Investment Advisory Committee
Action: Adopted Resolution No. 2024-041 of the City Council of the City of Rocklin Making Appointment to the Investment Advisory Committee. 2D. Intention to Annex Stanford Plaza Chipotle (APN 364-090-025-000) into Community Facilities District No. 1
Action: Adopted Resolution No. 2024-042 of the City Council of the City of Rocklin of Intention to Annex Territory to Rocklin Community Facilities District No. 1 (Annexation No. 89) and to Authorize the Levy of Special Taxes therein (Stanford Plaza Chipotle, APN 364-090-025-000).
2E. Various Personnel Updates
Action:
A. Adopted Resolution No. 2024-043 of the City Council of the City of Rocklin Repealing and Replacing Resolution No. 2023-155 Designating Representatives to the Northern California Cities Self Insured Fund Board of Directors.
B. Adopted Resolution No. 2024-044 of the City Council of the City of Rocklin to Approve a Classification Reallocation and Revised Salary Schedule for the Rocklin Police Officers’ Association.
C. Adopted Resolution No. 2024-045 of the City Council of the City of Rocklin to Approve to Approve a Side Letter of Agreement to the Memorandum of Understanding Between the City of Rocklin and the Rocklin Police Officers’ Association.
D. Adopted Resolution No. 2024-046 of the City Council of the City of Rocklin to Adopt a Revised Management Salary Schedule.
Motion to approve Consent Calendar Items 2A through 2E by Councilmember Broadway and seconded by Councilmember Halldin. Passed 5-0 by the following roll call vote:
Ayes: Bass, Broadway, Gayaldo, Halldin, Janda
Noes: None
Absent: None
Abstain: None
9 DRAFT Meeting Minutes of February 13, 2024 Rocklin City Council 4 | P a g e
3. SPECIAL PRESENTATIONS
None.
4. PUBLIC HEARINGS
Public Hearings may be reordered by the Mayor with the consent of the legislative body.
Per Mayor Janda’s request, item 4B was heard before item 4A. 4A. University Square / Design Review - DR2022-0002, and Conditional Use Permit, U2022-0001
Action: Conducted a Public Hearing to Consider Testimony.
A. Adopted Resolution No. 2024-047 of the City Council of the City of Rocklin Approving a Design Review (University Square / DR2022-0002).
B. Adopted Resolution No. 2024-048 of the City Council of the City of Rocklin Approving a Conditional Use Permit (University Square / U2022-0001).
Senior Planner Nathan Anderson presented the item to City Council.
Project Attorney Marcus Lo Duca on behalf of the applicant, responded to Councilmember questions and requested approval of the project.
Project Engineer Greg Bardini responded to Councilmember questions.
Public comment
Benjamin Bjorkman addressed the City Council regarding the item.
City Council comments and discussion followed.
Motion to approve Public Hearing Item 4A. A. to approve Design Review by Councilmember Halldin and seconded by Councilmember Bass. Passed 5-0 by the following roll call vote:
Ayes: Bass, Broadway, Gayaldo, Halldin, Janda
Noes: None
Absent: None
Abstain: None
Motion to approve Public Hearing Item 4A. B. to approve a Conditional Use Permit by Councilmember Halldin and seconded by Councilmember Bass. Passed 4-1 by the following roll call vote:
Ayes: Bass, Gayaldo, Halldin, Janda
Noes: Broadway
Absent: None
Abstain: None
10 DRAFT Meeting Minutes of February 13, 2024 Rocklin City Council 5 | P a g e
4B. Quarry Row Time Extension / Tentative Subdivision Map - SD2016-0003, Tree Preservation Plan Permit - TRE2016-0002, and Design Review - DR2016-0003 Action: Conducted a Public Hearing to Consider Testimony, and Adopted Resolution No. 2024-049 of the City Council of the City of Rocklin Approving a Two- Year Time Extension of a Tentative Subdivision Map, an Oak Tree Preservation Plan Permit, and a Design Review (Quarry Row Time Extension / SD2016-0003, TRE2016-0002 and DR2016-0003).
Senior Planner Nathan Anderson presented the item to City Council.
Project Owner/Applicant Todd Lowell provided an update to the City Council on the project requesting approval of the project.
Public comment
Wayne Beck addressed the City Council regarding the item.
City Council comments and discussion followed.
Motion to approve Public Hearing Item 4B by Councilmember Broadway and seconded by Vice Mayor Gayaldo. Passed 5-0 by the following roll call vote:
Ayes: Bass, Broadway, Gayaldo, Halldin, Janda
Noes: None
Absent: None
Abstain: None
5. DISCUSSION ITEMS
None.
6. FUTURE AGENDA ITEMS
None.
ADJOURNMENT
Mayor Janda adjourned the meeting at 7:33 p.m.
This is to certify that the foregoing is a true and
correct copy of the minutes of February 13, 2024
as approved by the Rocklin City Council.
Avinta Singh, City Clerk
11 City Council
Staff Report
Subject:
Accounts Paid List - October to December 2023
Date:
February 27, 2024
Submitted By:
Daniel Choe, Deputy Director of Administrative Services Department:
Administrative Services - Finance
Recommendation:
Receive the Accounts Paid List for October 1, 2023 to December 31, 2023.
Background:
The Accounts Paid List (Attachment 1) details expenses paid to vendors, types of expenses, and the amount paid for the period between October 1, 2023 to December 31, 2023.
Fiscal Impact:
This report will not have a direct fiscal impact. The items included in this report are either within the budget or have been approved as budget amendments.
Item Number 2B.
ATTACHMENTS:
1. Accounts Paid List October - December 2023
12 13
14 15
16 17
18 19
20 21
22 City Council
Staff Report
Subject:
Annual Comprehensive Financial Report and GANN Appropriations Limit Schedule for the Fiscal Year ended June 30, 2023
Date:
February 27, 2024
Submitted By:
Daniel Choe, Deputy Director of Administrative Services Angela Doyle, Senior Accountant
Department:
Administrative Services - Finance
Recommendation:
Adopt a Resolution of the City Council of the City of Rocklin Accepting the Annual Comprehensive Financial Report and GANN Appropriations Limit Schedule for the Fiscal Year Ended June 30, 2023.
Background:
Rocklin Municipal Code Chapter 2.28 requires an annual audit of all City financial transactions by an independent auditor and the submission of an audit report to the City Council. The California Constitution Article 13B Section 1.5 requires a review of the annual appropriations limit (GANN) as part of an annual financial audit.
The City of Rocklin contracted with Chavan & Associates LLP, a firm of Certified Public Accountants licensed to practice in the State of California, to perform the annual independent audit and prepare the Annual Comprehensive Financial Report (ACFR) (Attachment 2). The following are City financial highlights for the fiscal year ended June 30, 2023, as reported in the ACFR.
Government-Wide Highlights
As of the close of the fiscal year (FY) 2022/23, the assets and deferred outflows of the City exceeded liabilities and deferred inflows by $420.3 million. This net position rose by $13.6 million, or 3.3%, during FY 2022/23 to $420.3 million from $406.8 million.
The City’s Government-Wide General Revenues increased by 0.7% from $74.1 million to $74.6 million. General revenues include items such as property tax, sales and use taxes, gas tax, transient occupancy tax, motor vehicle fees, franchise fees, impact fees, investment earnings, and other revenues. For FY 2022/23 property taxes increased by 9% and investment earnings increased by 544%, while sales and use taxes decreased by 8% and impact fees decreased by 71%. Program Revenues were down 32%, or $10.9 million from the prior year.
Item Number 2C.
23 The City’s Government-Wide expenses increased by 20% from $73 million to $87.8 million this fiscal year.
Fund Highlights
General Fund revenues totaled $64 million, while expenditures totaled $68.5 million. Transfers in from other funds totaled $12.7 million, and transfers out totaled $2 million, resulting in a net increase in General Fund fund balance of $6.2 million. This increase in fund balance is primarily attributed to American Rescue Plan funds reimbursing the General Fund for eligible expenses.
Pursuant to the City's Key Management Practices, after calculating the minimum reserve requirements and carryforward amount, year-end net resources resulted in one-time General Fund budgetary resources of approximately $3.1 million.
The auditor's letters to the City Council (Attachments 4 and 5) are required by audit standards, and they convey there were no difficulties encountered performing the audit or disagreements between the auditors and City staff, upcoming accounting pronouncements, and other information relative to the audited financial statements.
Staff recommends the City Council accept the ACFR and GANN Appropriations Limit Schedule for the fiscal year ended June 30, 2023, and the auditor's letters to the City Council for the following reasons:
An annual audit is required by the Rocklin Municipal Code, and federal and state grant requirements.
The public accounting firm of Chavan & Associates, LLP has audited the City's FY 2022/23 financial statements and has issued an unqualified ("clean") auditor's opinion that the financial statements are fairly presented in accordance with generally accepted accounting principles, as well as there were no reported material weaknesses or significant deficiencies.
The auditor's letters to the City Council reflects no significant audit issues or disagreements with management relative to the audit.
Chavan & Associates, LLP has reviewed the GANN appropriations limit for the fiscal year ended June 30, 2023, per established procedures, and no exceptions were noted.
Fiscal Impact:
There is no direct fiscal impact to the General Fund from adopting this resolution.
ATTACHMENTS:
1. Resolution
2. Resolution Exhibit A - ACFR
3. Resolution Exhibit B - GANN
4. Governance Communication
5. Management Letter
24 RESOLUTION NO. 2024-XX
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROCKLIN
ACCEPTING THE ANNUAL COMPREHENSIVE FINANCIAL REPORT
AND GANN APPROPRIATIONS LIMIT SCHEDULE
FOR THE FISCAL YEAR ENDED JUNE 30, 2023
WHEREAS, Chavan & Associates LLP performed an independent financial audit for the City of Rocklin for fiscal year ended June 30, 2023, and prepared the Annual Comprehensive Financial Report (ACFR); and
WHEREAS, Chavan & Associates LLP has issued an unqualified (“clean”) auditor’s opinion, with no reported material weaknesses or significant deficiencies; and WHEREAS, Chavan & Associates LLP reviewed the (GANN) appropriations limit for the fiscal year ended June 30, 2023, per established procedures, and no exceptions were noted.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Rocklin as follows:
Section 1. The Annual Comprehensive Financial Statements and Gann Appropriations Limit Schedule for the fiscal year ended June 30, 2023, attached hereto as Exhibit “A” and Exhibit “B,” are accepted.
PASSED AND ADOPTED this 27th day of February 27, 2024, by the following vote:
AYES: Members:
NOES: Members:
ABSENT: Members:
ABSTAIN: Members:
____________________________________
Greg Janda, Mayor
ATTEST:
____________________________
Avinta Singh, City Clerk
25 26
Page Intentionally Left Blank
27 Annual Comprehensive Financial Report
For the Fiscal Year Ended June 30, 2023
Prepared By:
Administrative Services Department
28 Page Intentionally Left Blank
29 Vision Statement
To become a city that provides its citizens with
exceptional quality of life, while maintaining its
small town sense of community.
30 Page Intentionally Left Blank
31 CITY OF ROCKLIN
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2023
TABLE OF CONTENTS
INTRODUCTORY SECTION
Transmittal Letter ................................................................................................................................................... 1 Organizational Chart .............................................................................................................................................. 5 Directory of City Officials ...................................................................................................................................... 6 Location Map ......................................................................................................................................................... 7
F
INANCIAL SECTION
Independent Auditor’s Report .............................................................................................................................. 11 Management’s Discussion and Analysis (Required Supplementary Information) ............................................... 16
Basic Financial Statements:
Government-Wide Financial Statements:
Statement of Net Position ........................................................................................................................ 29 Statement of Activities ............................................................................................................................ 30 Fund Financial Statements
Governmental Funds:
Balance Sheet .................................................................................................................................... 32 Reconciliation of the Government Funds Balance Sheet to the Government-Wide Financial Statement of Net Position ....................................................... 35 Statement of Revenues, Expenditures and Changes in Fund Balances ............................................ 36 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Government-Wide Statement of Activities .......................................................................................................... 39 Proprietary Funds (Internal Service Funds):
Statement of Net Position ................................................................................................................. 40 Statement of Revenues, Expenses, and Changes in Fund Net Position ............................................ 41 Statement of Cash Flows .................................................................................................................. 42 Fiduciary Funds:
Statement of Fiduciary Net Position ................................................................................................. 43 Statement of Changes in Fiduciary Net Position .............................................................................. 44
Notes to the Basic Financial Statements ........................................................................................................ 47 Note 1 – Significant Accounting Policies ............................................................................................. 47 Note 2 – Cash and Investments ............................................................................................................. 59 Note 3 – Accounts Receivable .............................................................................................................. 64 Note 4 – Leases Receivable ................................................................................................................... 64 Note 5 – Interfund Transactions ............................................................................................................ 64 Note 6 – Loans Receivable .................................................................................................................... 66 Note 7 – Capital Assets ......................................................................................................................... 69 Note 8 – Noncurrent Liabilities ............................................................................................................. 70 Note 9 – Net Position/Fund Balance ..................................................................................................... 72 Note 10 – Risk Management ................................................................................................................... 76 Note 11 – Retirement Plans ..................................................................................................................... 77 Note 12 – Other Postemployment Benefits Plan ..................................................................................... 82 Note 13 – Commitments and Contingencies ........................................................................................... 87 Note 14 – Special Tax Assessment Districts ........................................................................................... 88 Note 15 – Successor Agency Trust (Former RDA) ................................................................................. 91
32 CITY OF ROCKLIN
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2023
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) – General Fund ........................................................................................ 94 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) – SB325 Sales Tax .................................................................................. 95 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) – Low-and-Moderate Income Housing Fund .......................................... 96 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) – Streets Grants ....................................................................................... 97 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) – American Rescue Plan Act .................................................................. 98 Schedule of Pension Contributions ...................................................................................................................... 99 Schedule of Changes in Net Position Liabilities, Net Pension Liabilities and Proportionate Shares ................. 100 Schedule of Contributions for Other Postemployment Benefits ........................................................................ 101 Schedule of Changes in Net OPEB Liability ...................................................................................................... 102
SUPPLEMENTARY INFORMATION
Combining Nonmajor Governmental Funds:
Combining Balance Sheet ............................................................................................................................ 105 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ..................................... 106 Combining Special Revenue Nonmajor Governmental Funds:
Combining Balance Sheet ............................................................................................................................ 108 Statement of Revenues, Expenditures and Changes in Fund Balances........................................................ 115 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) ...................................................................................................... 122 Combining Capital Projects Nonmajor Governmental Funds:
Combining Balance Sheet ............................................................................................................................ 144 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ..................................... 147 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) ...................................................................................................... 150 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) – Capital Projects Major Governmental Fund – Traffic Circulation Impact Fee Fund ........................................................................................................... 160 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) – Capital Projects Major Governmental Fund – Community Facilities District No. 10 Projects ............................................................................................ 161 Combining Permanent Nonmajor Governmental Funds:
Combining Balance Sheet ............................................................................................................................ 164 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ..................................... 165 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) ...................................................................................................... 166 Combining Debt Service Nonmajor Governmental Funds:
Combining Balance Sheet ............................................................................................................................ 170 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ..................................... 171 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) ...................................................................................................... 172 Combining Internal Service Funds:
Statement of Net Position ............................................................................................................................ 176 Statement of Revenues, Expenses, and Changes in Fund Net Position ....................................................... 177 Statement of Cash Flows ............................................................................................................................. 178
33 CITY OF ROCKLIN
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2023
Combining Custodial Funds:
Combining Statement of Fiduciary Net Position ......................................................................................... 180 Combining Statement of Changes in Fiduciary Net Position ...................................................................... 183
STATISTICAL SECTION
Net Position by Component ................................................................................................................................ 190 Changes in Net Position ..................................................................................................................................... 192 Fund Balances of Governmental Funds .............................................................................................................. 196 Changes in Fund Balances of Governmental Funds ........................................................................................... 198 Assessed Value of Taxable Property .................................................................................................................. 200 Direct and Overlapping Property Tax Rates ....................................................................................................... 201 Principal Property Taxpayers ............................................................................................................................. 202 Direct and Overlapping Debt .............................................................................................................................. 203 Pledged-Revenue Coverage ................................................................................................................................ 204 Principal Employers ........................................................................................................................................... 205 Operating Indicators by Function ....................................................................................................................... 206 Capital Asset Statistics by Function ................................................................................................................... 207
34 This page is intentionally blank
35 INTRODUCTORY SECTION
36 Page Intentionally Left Blank
37 City of Rocklin Transmittal Letter
CITY OF ROCKLIN
3970 Rocklin Road
Rocklin, California 95677
Telephone (916) 625-5000
Fax (916) 625-5095
F
ebruary 27, 2024
To
the Honorable Mayor, Members of the City Council, and Citizens of Rocklin, California:
We are pleased to present the Annual Comprehensive Financial Report ( ACFR) of the City of Rocklin, California (the City), for the fiscal year ending June 30, 2023 as required by Chapter 2.28 of the Rocklin Municipal Code. Although formally submitted to the Mayor and City Council, t he ACFR is published to provide financial information to the residents of Rocklin, the investment community, the general public, and other interested parties.
This letter of transmittal is designed to be read with and complement the Management’s Discussion and Analysis (MD&A), which reports on the financial highlights of the City and provides additional analysis on the variances and trends reported as part of the financial statements. The MD&A can be found immediately following the independent auditors' report.
Management assumes all responsibility for the completeness and reliability of the information presented in this report. To the best of our knowledge and b elief, the enclosed data is accurate in all material respects and presents fairly the respective financial position and changes of the City, as of June 30, 2023.
The City contracted with Chavan & Associates, LLP , a firm of Certified Public Accountants lice nsed to practice in the State of California, to perform the annual independent audit. The auditors have issued an unmodified (“clean”) opinion on the City’s financial statements for the year ended June 30, 202 3. The independent auditor’s report is presented as the first item in the financial section of the report.
PROFILE OF THE CITY
The City of Rocklin was incorporated in 1893. The City is located on Interstate 80 and Highway 65, 20 miles northeast of Sacramen to at the base of the Sierra F oothills in Placer County, California. Rocklin encompasses 20 square miles, and as of January, 2023, had a population of 71,179. Rocklin is a preferred location to live, work, visit, and grow business because of its convenient location, excellent schools, and universities, abundant recreational opportunities, and highest commitment to public safety. According to 38 City of Rocklin Transmittal Letter
a recent evaluation by the Insurance Services Office, the City of Rocklin is in the top 4.1 percent of the nation in fire protection. Rocklin is home to Sierra Community College and an accredited private institution of higher education, Jessup University . The Cit y is a safe community with low crime rates, excellent schools, and beautiful parks. The City continues to be a leader i n providing excellent services and a high quality of life.
The City, with 270 budgeted full-time employees, provides the following public services: public safety (police and fire), planning and community development, construction and maintenance of streets, storm drains and other infrastructure, parks and recreation, and general administrative services. The City maintains a website at https:// www.rocklin.ca.us, which provides online services and extensive information about the City.
The City of Rocklin is a General Law City operating under the City Council/Manager form of government, which vests authority in an elected City Council. The City Council is the City’s legislative and policymaking body, responsible for appointing key positions, including the City Manager, City Attorney, City Treasurer, and City Clerk. Additionally, the City Council appoints members to various committees and commissions, such as the Architectural Review Committee, Arts Commission, Board of Appeals, Community Recognition Commission, Investment Advisory Committee, Parks & Recreation Commission, and Planning Commission.
The City Manager, appointed by the City Council, oversees the overall administration of the City.
The City Council also acts as the Board of Directors for the Rocklin Public Financing Authority (RPFA). The RPFA was formed as a joint powers authority between the City and the former Rocklin Redevelopment Agency to serve as a financing mechanism for various capital projects. For financial reporting purposes , the RPFA is considered a component unit of the City, and is incorporated within this document. Additional information on this legally separate entity can be found in Note 1 of the notes to the financial statements.
The City has established a Successor Agency, which replaced the former Rocklin Redevelopment Agency, dissolved in 2012. The Successor Agency is not a component unit of the City and is , instead, a separate legal entity overseen by the Placer County Consolidated Oversight Board and the California State Department of Finance . The City’s role as the Successor Agency is fiduciary in nature. The Successor Agency is reported as a private-purpose trust fund, which is a fiduciary fund type. Additional information can be found in Note 15 of the notes to the financial statements.
The City prepares an annual budget and submits it to the City Council for review and approval. This budget serves as the foundation of the City’s financial planning and control. The City Council appropriates funds to provide public services through the annual budget process. Activities of General, Special Revenue, Debt Service, Capital Project, Custodial, and Internal Service Funds are included in the annual budget . Each year, the City Manager is required to submit a proposed budget to City Council by May 15 th. The City Council reviews and may revise the proposed budget in a public workshop. Pursuant to Chapter 3.28 of the Rocklin Municipal Code, the final budget must be presented to and adopted by the City Council by June 30th of each year. A copy of the final budget is available for download on the City’s website:
https://www.rocklin.ca.us/city-budgets.
The City has established a comprehensive framework of internal controls designed to protect the assets of the government from loss, theft, or misuse. This framework is designed so accurate accounting data is compiled to allow for the preparation of financial statements consistent with Generally Accepted Accounting Principles (GAAP). Internal controls provide reasonable, but not absolute assurance these objectives are met. The concept of reasonable assurance recognizes that the cost of internal controls 39 City of Rocklin Transmittal Letter
should not exceed the benefits and that decisions often require the use of estimates and judgments by management.
ECONOMIC FACTORS AND OUTLOOK
The City of Rocklin continued to demonstrate economic improvement through June 202 3. Home sales volume decreased as home purchases became more expensive overall for home buyers, primarily due to the Federal Reserve repeatedly raising interest rates. Although this trend is anticipated to persist through 2024, insufficient supply in the market could lead to acute price declines . Looking ahead into fiscal year 2023/2024, a modest increase in property tax revenue is anticipated, attributed to increased property values. The median home price in June 2023 was $665,000, down from $720,000 in June 2022. The City’s population for January 2023 dipped slightly by 0.6 percent from the prior year.
Since hitting a recession low of $5.7 million in fiscal year 2009/2010, sales tax in Rocklin has consistently increased. Many local businesses saw growth, coupled with a surge in online purchases. Looking ahead to fiscal year 2023/2024, a modest increase in sales tax revenue is anticipated, attributed to a slowdown in spending on taxable merchandise. Motor vehicle dealerships, the City’s largest business type, are projected to generate less sales tax revenue as available auto inventory increases from historic lows after recent supply chain disruptions and computer chip shortages ease. General retail sales remained stagnant or declined in the state and county pools in 2022/2023, a trend expected to persist into fiscal year 2023/2024. In the preceding fiscal year, the City’s sales tax actuals met budgetary expectations, with a projected 4.7 percent increase in sales tax revenue for 2023/2024 compared to the prior year.
LONG TERM FINANCIAL PLANNING
The City consistently planned its budgets with a focus on its long-term needs. This is accomplished through conservative fiscal management practices, financial policies, and the establishment of several funds to direct City revenues to long-term financial needs. These funds include:
Operating Reserves: The City maintains a General Fund operating reserve for the purpose of bridging a gap between projected revenue and expenditures during periods of significant revenue declines and/or expenditure growth and the City has adequate resources in case of emergency or unforeseen events. Pursuant to City Council’s adopted policy, the City will maintain an operating reserve equal to 25 percent of the planned budgeted expenditures in the General Fund, excluding capital costs.
Disaster Contingency Reserve: The City maintains an emergency reserve of $1 million. This money is used in the event of a declared emergency, providing financial support for recovery efforts.
Fleet Replacement Fund: The City funds the cost of replacement vehicles and equipment over the asset's useful life. This ensures the systematic replacement of vehicles and equipment to keep the City’s vehicular fleet safely and properly operating. As of June 30, 2023, the Fleet Replacement Fund is at $5.8 million, equivalent to 61 percent of the vehicle depreciation cost.
OPEB Trust: In 2014, the City established an irrevocable trust to prefund retiree health and other post-retirement benefit costs and transferred $1 million into the OPEB Trust. As of the June 30, 2022 measurement date, the total OPEB liability is $39.6 million, with a funded status for other post-retirement benefits at 88.3 percent.
40 City of Rocklin Transmittal Letter
Self-Insured Losses Reserve: The City maintains a self-insured losses reserve of $2 million. This money is used for losses not covered under existing insurance programs.
ACKNOWLEDGMENTS
The Administrative Services Department, particularly the Finance Division , takes great pride in the preparation of the ACFR. The professionalism, commitment, and effort of each employee in the Finance Division made this report possible. We also want to thank other employees in the Administrative Services Department and other City departments who contributed to the preparation of this report. We commend the City Council for their interest, support, and exemplary leadership in planning and conducting the financial operations of the City in a responsive and progressive manner.
Respectfully submitted,
Aly Zimmermann Tameka Usher Daniel Choe
City Manager Director of Administrative Services Deputy Director of Administrative Services/ City Treasurer
41 CITIZENS
CITY COUNCIL
BOARDS &
COMMISSIONS
CITY ATTORNEY
CITY MANAGER
CITY CLERK
INFORMATION
TECHNOLOGY
ADMINISTRATIVE
SERVICES
COMMUNITY
DEVELOPMENT
PARKS & RECREATION
FIRE
POLICE
PUBLIC SERVICES
42 City of Rocklin
Annual Comprehensive Financial Report
Current
Directory of City Officials
City Council
Name Term Expires
Greg Janda, Mayor December 2024
Jill Gayaldo, Vice-Mayor December 2026
David Bass, Councilmember December 2024
Ken Broadway, Councilmember December 2024
Bill Halldin, Councilmember December 2026
City Officials
Name
Position
City Manager
Assistant City Manager
Interim City Attorney
Aly Zimmermann
Sherri Conway
Daniel Cucchi
Haley Reid Interim City Clerk
Daniel Choe City Treasurer
43 City of Rocklin
CA
P
L
A
C
E
R
C
O
U
N
T
Y
44 This page is intentionally blank
45 FINANCIAL SECTION
46 This page is intentionally blank
47 15105 Concord Circle, Suite 130 Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of the
City Council of the City of Rocklin
Rocklin, California
Report on the Financial Statements
Opinion
We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Rocklin (the “City"), as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise City’s basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Rocklin, as of June 30, 2023, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Emphasis of a Matter
During the year, the City implemented GASB Statement No. 96, Subscription-based Information Technology Arrangements and GASB Statement No. 94, Public-Private Partnerships and Public- Public Partnerships and Availability Payment Arrangements. See Note 1 for more information. Our opinion has not been modified regarding this matter.
Responsibilities of Management for the Financial Statements City management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair 48 15105 Concord Circle, Suite 130 Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and GAGAS, we:
Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed. Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control– related matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and other required supplementary information, as listed in the table of contents, be presented to supplement the basic financial statements. Such information, 49 15105 Concord Circle, Suite 130 Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The combining and individual fund financial statements and schedules are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of m anagement and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the combining and individual fund financial statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Information
The City’s management is responsible for the other information included in the annual comprehensive financial report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor’s report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Report on Summarized Comparative Information
We have previously audited the City’s June 30, 2022 financial statements, and we expressed unmodified audit opinions on the respective financial statements in our report dated December 20, 2022. In our opinion, the summarized comparative information presented herein as of and for the year ended June 30, 2022, is consistent, in all material respects, with the audited financial statements from which it has been derived.
50 15105 Concord Circle, Suite 130 Morgan Hill, CA 95037 Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated November 30, 2023, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.
November 30, 2023
Morgan Hill, California
51 MANAGEMENT’S DISCUSSION
AND ANALYSIS
52 City of Rocklin Management’s Discussion and Analysis
INTRODUCTION
The Management’s Discussion and Analysis (MD&A) is a required section of the City’s Annual Comprehensive Financial Report, as shown in the overview below. The purpose of the MD&A is to offer readers a narrative overview and analysis of the City’s financial activity for the fiscal year ended June 30, 2023. We encourage readers to consider this MD&A in conjunction wi th the Basic Financial Statements to provide a comprehensive understanding of the City’s operations and financial standing.
Required Components of the Annual Comprehensive Financial Report
F
INANCIAL HIGHLIGHTS
Government-Wide Highlights:
As of the close of the fiscal year 2022/2023, the asse ts and deferred outflows of the City exceeded liabilities and deferred inflows by $420.3 million. This net position rose by $13.6 million, or 3.3%, during fiscal year 2022/2023 to $420.3 million from $406.8 million.
The City’s Government-Wide General Revenues increased by 0.7% from $74.1 million to $74.6 million. General revenues include items such as property tax, sales and use taxes, gas tax, transient occupancy tax, motor vehicle fees, franchise fe es, impact fees, investment earnings, and other revenues. For fiscal year 2022/2023 property taxes increased by 9% and investment earnings increased by 544%, while sales and use taxes decreased by 8% and impact fees decreased by 71%.
Program Revenues were down 32%, or $10.9 million from the prior year.
The City’s Government-Wide expenses increased by 20% from $73 million to $87.8 million this fiscal year.
Fund Highlights:
General Fund revenues totaled $64 million, while expenditures totaled $68.5 million. Transfers in from other funds totaled $12.7 million, and transfers out totaled $2 million, resulting in a net increase in General Fund fund balance of $6.2 million. This in crease in fund balance is primarily attributed to American Rescue Plan funds reimbursing the General Fund for eligible expenses.
Management’s
Discussion & Analysis
Government-Wide
Financial Statements
Fund
Financial Statements
Notes to the
Financial Statements
Basic
Financial Statements
53 City of Rocklin Management’s Discussion and Analysis
Other Highlights:
The impact from significantly less than expected earnings in the CalPERS pension pooled investments, during the measurement period included in this fiscal year’s financial statements, was an increase to the City’s net pension liability of $35 million, from $28.8 million to $63.8 million. Changes in assumptions and expected and actual experience also contributed to the large increase.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements. The Financial Statements are comprised of Government-Wid e (City-wide) Financial Statements, Fund Financial Statements, Notes to the Financial Statements, Requ ired Supplementary Information, and Supplementary Information. The Government-wide and Fund Financial Statements provide the reader with two different perspectives of the City's financial activities and financial position.
The Government-Wide Financial Statements
Government-Wide Financial Statements provide a longer-term view of the City's activities as a whole, and comprise of the Statement of Net Position and the Statement of Activities.
The Statement of Net Position provides information about the financial position of the City, including its capital assets, long-term liabilities, and deferred inflows/outflows of resources on a full accrual basis, similar to that used by corporations. The difference between the total assets and deferred outflows of resources and the total liabilities and deferred inflows of resources is reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating.
The Statement of Activities provides information about the City's revenues and its expenses, also on a full accrual basis, with the emphasis on measur ing net revenues and/or expenses fo r each of the City's programs. The Statement of Activities explains in detail the change in net position for the fiscal year. All changes in net position are reported as soon as the event causing the change occurs, regardless of the timi ng of related cash flows.
Therefore, some revenues and expenses reported in this statement are for items that will only result in cash flows for future fiscal periods.
Both the Statement of Net Position and the Statement of Activities distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business- type activities).
Governmental Activities – All of the City's basic services are considered to be governmental activities, including general government, community development, parks and recreation, public safety, and public services. These services are supported by ge neral City revenues, such as taxes, and by specific program revenues, such as development and recreation program fees.
Business-Type Activities – The City does not have any business-type activities.
Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources segregated for specific activities or objectives. The City, like other local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.
54 City of Rocklin Management’s Discussion and Analysis
Fund Financial Statements report the City's operations in more detail than the government-wide statements and focus primarily on the short-term activities of the City's general fund and other major funds. The fund financial statements measure only current revenues and expenditures and fund balances; they exclude capital assets, long-term debt, and other long-term amounts.
Major funds present the major activities of the City for the fiscal year, and may change from year to year as a result of changes in the pattern of the City's activities. Each major fund is individually presented, and all non- major funds are summarized and presented in a single column. Subordinate schedules present the detail of non- major funds. The City's funds are segregated into three categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds – The City's basic services are reported in governmental funds, which focus on how money flows into and out of those funds and the balances available at year-end. Financial statements are prepared on the modified accrual basis, which means they measure only current financial resources and uses. Carrying amounts for capital assets and other long-lived assets, along with long-term liabilities are not presented on the balance sheet in the governmental fund financial statements. Unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year.
Since the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. Such information may be useful in evaluating the City's near-term financing requirements. Both the go vernmental balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. For fiscal year 2022/2023, the City had seven major funds, 20 non-major special revenue funds, 11 non-major capital projects funds, two non-major permanent funds, and two non-major debt service funds.
Proprietary Funds – The City has and maintains proprietary funds, which include two internal service funds.
Internal service funds are used to accumulate and allocate costs internally among the City's various functions.
The City uses one internal service fund to account for its fleet operations and one for risk management functions.
Because these services predominately benefit only governmental functions, they have been included within governmental activities in the government-wide financial statements.
Fiduciary Funds – Fiduciary funds are used to account for resources held for the benefit of parties outside the City. Fiduciary funds are not reported in the government-wide financial statements because the resources of these funds are not available to support the City’s own programs. The accounting for fiduciary funds is much like that used for business-type acti vities. For fiscal year 2022/2023, the City had one private-purpose trust fund and eight custodial funds. Private-purpose trust fund s are used to account for resources legally held in trust for special purposes. Custodial funds are held by the City in a custodial nature and are accounted for using an economic resource measurement focus.
N
OTES TO THE FINANCIAL STATEMENTS
Notes to the Financial Statements provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes can be found immediately following the fund financial statements.
55 City of Rocklin Management’s Discussion and Analysis
REQUIRED SUPPLEMENTARY INFORMATION
In addition to the basic financial statements and accompanying notes, this report presents certain required supplementary information including a budgetary comparison for the General Fund and other major funds as presented in the governmental fund financial statements. Information regarding the City’s pension liabilities and information regarding the City’s progress in fundin g its obligation to provide OPEB to its employees is included.
SUPPLEMENTARY INFORMATION
The supplementary information section of this report includes combining and individual fund statements and schedules designed to provide additional information on non-major governmental funds including special revenue, debt service, capital project funds, proprietary internal service fund information and agency funds.
An unaudited statistical section provides historical a nd current data on financial trends, revenue and debt capacity, demographic and economic information, and operating information.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
Assets
In the Statement of Net Position schedule shown on the next page, total assets increased by $16 million.
Current and other assets increased by $1.2 million from the prior fiscal year. This increase was attributed to the construction of the Roundabout at Pacific and Rocklin Road. Capital Assets increased by $14.8 million from the prior fiscal year, primarily due to Whitney Ranch Streets Infrastructure in Community Facilities District No. 10 and other developer-constructed Infrastructure accepted by the City.
Deferred Outflows of Resources
In the Statement of Net Position schedule shown on the next page, Deferred Outflows of Resources increased by $23.8 million, mainly due to increases from changes in assumptions, projected vs. actual earnings in the plans, and changes in proportions.
Liabilities
In the Statement of Net Position schedu le shown on the next page, tota l liabilities increased by $38 million.
Noncurrent liabilities increased by $38.7.6 million from the prior fiscal year. This increase is mainly due to the lower-than-expected rate of return on the assets of th e pension and OPEB plans. This mostly led to the $35 million increase in the Net Pension Liability, and an $4.4 million increase in the Net OPEB Liability.
Current and other liabilities decreased by $707 thousand from the prior fiscal year, mostly as a result of a decrease in Accounts Payable and Accrued Liabilities.
Deferred Inflows of Resources
In the Statement of Net Position schedule shown on the next page, Deferred Inflows of Resources decreased by $11.8 million. This was primarily from lower-than-expected returns on investments in the CalPERS pension plans.
56 City of Rocklin Management’s Discussion and Analysis
Net Position
In the Statement of Net Position schedule shown below, the City's Total Net Position increased $13.6 million.
Net position may serve over time as an indicator of the City's financial position. A significant portion of the City's $420.3 million total net position was for net investment in capital assets of $329.4 million, (e.g., land, buildings, general government infrastructure, equipment, and vehicles) net of accumulated depreciation and reduced by any related debt used to acquire or construct those assets. A $15.8 million increase in net investment in capital assets is primarily attributed to the Whitney Ranch Streets Infrastructure in Community Facilities District No. 10 and other developer-constructed infrastructure accepted by the City.
Governmental Activities
Revenues
In the Statement of Activities schedule shown on the next page, total program revenue and total general revenue combined show a decrease of $10.4 million.
Program revenues decreased by $10.9 million from the prior fiscal year, attributed to:
Charges for services decreased by $1.6 million (14%) due to reductions in impact fees and capital construction fees.
Operating grants and contributions decreased by $1.8 million (23%), mainly due to a significant influx of federal grants and reimbursements in the prior year for the Covid response and Fire Strike Teams.
Capital grants and contributions decreased by $7. 5 million (49%), primarily due to a prior year contribution of $13 million from Co mmunity Facilities District No . 10 of bond proceeds to the City’s capital projects fund. This increase is partially offset by current-year developer-constructed infrastructure contributions.
Dollar Percent
2023 2022 Change Change
Assets
Current and other assets 147,044,980$ 145,873,793$ 1,171,187$ 0.80% Capital assets - net 340,847,057 326,010,958 14,836,099 4.55% Total Assets 487,892,037$ 471,884,751$ 16,007,286$ 3.39% Deferred Outflows of Resources 38,199,935$ 14,366,611$ 23,833,324$ 165.89% Liabilities
Current and other liabilities 10,758,247$ 11,465,490$ (707,243)$ -6.17% Noncurrent liabilities 82,347,443 43,615,538 38,731,905 88.80% Total Liabilities 93,105,690$ 55,081,028$ 38,024,662$ 69.03% Deferred Inflows of Resources 12,647,866$ 24,400,829$ (11,752,963)$ -48.17% Net Position
Net investment in capital assets 329,441,747$ 313,671,890$ 15,769,857$ 5.03% Restricted 36,012,891 40,765,135 (4,752,244) -11.66% Unrestricted 54,883,778 52,332,480 2,551,298 4.88% Total Net Position 420,338,416$ 406,769,505$ 13,568,911$ 3.34% Governmental Activities
Table 1 - Net Position
57 City of Rocklin Management’s Discussion and Analysis
General revenues increased $480 thousand, attributed to:
Investment earnings rose by $3.6 million (123%), driven by increased interest rates and improved investment management.
Other revenues decreased by $2.6 million (90%), mainly due to prior-year non-grant reimbursements for the Roundabout at Pacific an d Rocklin Road and Adventure Park shortfall account.
Expenses
Total expenses increased by $14.9 million, attributed to:
General government expenses increased by $7.2 million (71%), primarily due to the disbursement of funds for business and community support from the American Rescue Plan Act. Public safety expenses increased by $7.2 million ( 27%), mainly due to rises in labor and salary expenses.
Public services expenses decreased by $1.4 millio n (5%), reflecting a reduction in depreciation expense from the prior year.
Parks and recreation expenses increased by $733 thousand (11%), mainly due to rises in labor and salary expenses.
Community development expenses increased by $1.3 million (34%) due to GASB 68 pension adjustments.
Dollar Percent
Functions/Programs 2023 2022 Change Change
Program Revenues
Charges for services 9,378,356 $ 10,950,688$ (1,572,332) $ -14.36% Operating grants and contributions 5,844,166 7,627,523 (1,783,357) -23.38% Capital grants and contributions 7,822,971 15,325,597 (7,502,626) -48.95% Total Program Rev enues 23,045,493 33,903,808 (10,858,315) -32.03% General Rev enues
Taxes and assessments 71,377,449 71,855,500 (478,051) -0.67% Investm ent earnings 2,904,931 (654,681) 3,559,612 122.54% Other revenues 293,924 2,895,645 (2,601,721) -89.85% Total General Revenues 74,576,304 74,096,464 479,840 0.65% Expe ns e s
General government 17,316,721 10,100,380 7,216,341 71.45% Public safety 33,989,917 26,806,881 7,183,036 26.80% Public Services 23,913,391 25,268,546 (1,355,155) -5.36% Parks and recreation 7,390,432 6,657,032 733,400 11.02% Com m unity developm ent 5,132,246 3,827,237 1,305,009 34.10% Interest on fiscal charges 76,403 299,252 (222,849) -74.47% Total Expens es 87,819,110 72,959,328 14,859,782 20.37% Ex cess (Deficiency) of Revenues over Ex penses 9,802,687 35,040,944 (25,238,257) -72.03% Special Item - Settlements and Recoveries 3,755,224 - 3,755,224 100.00% Special Item G ain (Loss) Disposal Capital Assets 11,000 117,859 (106,859) -90.67% Increase / (Decrease) in Net Position 13,568,911 35,158,803 (21,589,892) -61.41% Net Position, Beginning of Year 406,769,505 371,610,702 35,158,803 9.46% Net Position, End of Year 420,338,416$ 406,769,505 $ 13,568,911 $ 3.34% Governmental Activities
Table 2 - Statement of Activities
58 City of Rocklin Management’s Discussion and Analysis FINANCIAL ANALYSIS OF THE CITY’S FUNDS
A summary of the changes in fund balance of the Major Funds and Other Governmental Funds is presented below:
The total Governmental fund balances for fiscal year 2022/2023 were $115.8 m illion, reflecting a $3.3 million increase, during the year, including Major Funds and Other Governmental Funds. The net change in General Fund fund balance increased by $6.2 million. This increase was due to a developer contribution of infrastructure value d at $4.1 million and $6.8 from Transfers In of American Rescue Plan Act funds, partially offset by increased expenditures. The
Community Facilities District No. 10 Capital Pr ojects Fund net change in fund balance was decrease of $13.0 million. This decrease is the resu lt of the issuance of special tax bonds by the CFD in the prior year, which were
expended in the fiscal year 2022/23 to finance the acquisition of publi
c facilities.
The SB325 Sales Tax Fund’s net change in fund ba lance was a $2.0 million increase due to more Gas Tax reve
nues than expenditures. Fund balance will be used for the following year’s projects. The Low- and
Moderate-Income Housing Asset Fund net change in fund balance was an increase of $1.3 million. Revenues come from interest collected on loans and expenditures were on programs to
assist homeless.
The
Traffic Circulation Impact Fee Fund fund ba lance increased by $1.4 million due to re venues collected for
residential and commercial development impacts. Additionally, the increase in fund balance
was due to reduced spending during the ye ar on capital projects. A Tr affic Circulation Eleme
nt Study followed by a Traffic Impact Fee study will determine appropriate pr oject expenditures
for the impact fees collected.
The Streets
Grants Fund fund balance increase d by $568 thousand. The $892 thousand deficit endin
g fund balance is due to a timing difference, amounts owed to the Streets Grant Fund were not received within the period of availability.
The A
merican Rescue Plan Act Fund had no change in fund balance because revenue recognized equals the amount expended on allowable costs.
Non-major Governmental Fund’s fund balances increased by $4.7 million. This was due mainly to receiving a settlement for the impacts of a new Costco. The
total Governmental fund balances increase d by $3.3 million, approximately 2.9% from the prior year amount of $112.6 million to $115.8 million.
Community Low and Traffic
Facilities M oderate Circulation
District No. SB325 Income Impact DOF Nonmajor
General 10 Capital Sales Tax Housing Fee Streets ARPA Governmental Fund Projects Fund As s et Fund Fund Grants Funds Funds Total Total Revenues 64,039,994$ 96,206 $ 6,338,137$ 1,606,868 $ 1,480,014$ 4,861,077$ 6,838,730$ 19,681,958 $ 104,942,984$ Total Expenditures (68,502,179) (13,096,206) (3,796,306) (147,966) (2,112) (4,292,929) - (14,750,531) (104,588,229) Revenues Over
(Under) Expenditures (4,462,185) (13,000,000) 2,541,831 1,458,902 1,477,902 568,148 6,838,730 4,931,427 354,755 Settlements and Recoveries - - - - - - - 3,755,224 3,755,224 Transfers In 12,651,314 - - - - - - 1,649,753 14,301,067 Transfers Out (2,007,442) - (504,633) (153,500) (38,563) - (6,838,730) (5,602,699) (15,145,567) Net Change in
Fund Balances 6,181,687 (13,000,000) 2,037,198 1,305,402 1,439,339 568,148 - 4,733,705 3,265,479 Beginning of Year 48,038,469 13,000,000 4,631,388 11,835,516 15,979,920 (1,460,266) - 20,556,060 112,581,087 End of Year 54,220,156$ - $ 6,668,586$ 13,140,918 $ 17,419,259 $ (892,118) $ -$ 25,289,765$ 115,846,566$ Tab le 3 - Summary of Rev enues, E xpenditures and Changes in Fund Balance - Gov ernmental Fund s Major Funds
59 City of Rocklin Management’s Discussion and Analysis
CAPITAL ASSETS
The capital assets of the City are those assets which are used in the performance of the City’s functions including infrastructure assets. At June 30, 2023, net capital assets of the governmental activities totaled $340.8 million, an increase of $14.8 million. Deprecia tion on capital assets is recognized in the Government-Wide Financial Statemen ts and totaled $12.1 million. Th e following table summarizes the City’s capital assets at the end of the year:
Additional detail and information on capital asset activity is described in Note 7 of this report. Construction in progress increased by $7.1 million, driven mainly by the Roundabout at Pacific and Rocklin Road project ($3.7 million), Mountaingate Reconstruction ($1.2 million), Midas Storm Damage Repair ($766 thousand), and other various projects ($1.5 million). Subscription right-of-use assets increased by $603 thousand due to the implementation of GASB
96. Infrastructure increased by $9.6 million, primarily due to $13 million in newly completed Whitney Ranch projects and $4.1 million in other developer- constructed infrastructure, partially offset by depreciation expense.
Decreases in other categories were mainly due to recorded depreciation.
Dollar
2023 2022 Change
Percent
Change
Land 8,338,942$ 8,338,942$ -$ 0.00%
Land improvements 108,402 108,402 - 0.00%
Park land 61,097,079 61,097,079 - 0.00%
Construction in progress 12,116,112 5,011,810 7,104,302 141.75% Subscription right of use assets 603,131 - 603,131 100.00% Buildings 11,899,757 12,856,666 (956,909) -7.44%
Facilities & other improvements 2,941,298 3,252,630 (311,332) -9.57% Machinery & equipment 388,072 366,282 21,790 5.95% Fleet machinery & equipment 6,063,575 6,632,544 (568,969) -8.58% Park buildings 1,801,643 1,892,239 (90,596) -4.79% Park equipment 24,385 32,109 (7,724) -24.06%
Park improvements 8,324,808 8,893,419 (568,611) -6.39% Infrastructure 227,139,853 217,528,836 9,611,017 4.42% Total Capital Assets, Net 340,847,057$ 326,010,958$ 14,836,099$ 4.55% Table 4 - Capital Assets at Year End - Net
Governmental Activities
60 City of Rocklin Management’s Discussion and Analysis
DEBT ADMINISTRATION
During the year, Long-Term Debt from governmental activities increased by $38.4 million. The increase was mostly due to the lower-than-expected investment returns in the PERS pension plan assets, which increased the City’s proportionate share of the Net Pension Liabilities by a $35 million. The City’s net OPEB liability increased by $4.4 million due to the lower-than-expected investment returns earnings during the measurement period. Other decreases included prin cipal payments on outstanding bonds and direct borrowings.
The following table summarizes the City’s debt at the end of the year:
Additional detail and information on long-term debt activity is described in Note 8 of this report.
G
ENERAL FUND BUDGETARY HIGHLIGHTS
The Rocklin Municipal Code requires the City Manager to submit a proposed budget on or before May 15 th of each year. The City Council reviews and may revise the proposed budget in a public workshop. The budget is then must be formally adopted by the City Council on or before June 30th of each year. The City Council of the City of Rocklin adopted the fiscal year 2022/2023 budget in June 2022.
Changes from the City's General Fund fiscal ye ar 2022/2023 original budget to the final budget are detailed in the Required Supplementary Information Sect ion, along with a comparison to actual activity for the year ended. Budget amendments must be approved by a resolution of the City Council. The General Fund revenue budget increased by $447 thou sand between the original and final budget. The increase in the budgeted revenues was due to a $150,000 increase in the transient occupancy tax revenue as a result of a voter approved rate increase from 8% to 10% in effect for the remainder of the year, $107,000 for a new Adventure Operations Lease agreem ent, $143,000 for additional recreation events and programs, and $47,000 for new grants. Actual expe nses of $68.5 million were $3.3 million less than the final amended budget but $3.9 million more than the original budget due to planned expenses not occurring in fiscal year 2022/2023.
2023 2022 Dollar Change
Percemt
Change
2016 Lease Revenue Bonds 7,875,913 $ 8,188,464 $ (312,551) -3.82% OPUS Bank Loan - RPFA Refunding 1,526,806 2,013,154 (486,348) -24.16% Sunset Whitney Recreation Area Note 516,934 1,031,943 (515,009) -49.91% Subscription Liabilities 601,247 - 601,247 100.00% Claims Payable 2,472,627 2,832,930 (360,303) -12.72% Net Pension Liability 63,835,601 28,826,839 35,008,762 121.45% Net OPEB Liability 4,617,846 234,349 4,383,497 1870.50% Compensated Absences 3,842,280 3,710,102 132,178 3.56% Total Long-Term Debt 85, 289,254$ 46,837,781 $ 38,451,473 $ 82.09% Table 5 - Long-Term Debt
Governmental Activities
61 City of Rocklin Management’s Discussion and Analysis
ECONOMIC FACTORS BEARING ON THE CITY’S FUTURE
Looking forward to 2023/2024, the City expects to remain fiscally sound, we forecast the City’s revenue outlook to be generally positive, but increased oper ational costs, eventual slowing of sales tax, and increased labor costs will require prudent monitoring to ensure stability. Factors considered in the development of the fiscal year 2023/2024 budget include:
Property tax revenues are expected to remain optimistic, growing by 8% from fiscal year 2022/2023. This is due to a combination of rising home values and new home construction. Sales tax revenues projected to moderately increase by 5% from the fiscal year 2022/2023 budget due to price increases and sales growth, but this is partially offset by predictions that consumers will spend less on discretionary taxable merchandise.
Personnel costs are set to increase due to the addition of 6.53 net new positions, contracted labor increases, and pending labor negotiations.
R
EQUEST FOR FINANCIAL INFORMATION
This financial report is designed to provide a general ov erview of the City of Rocklin's finances for all of Rocklin's residents, taxpayers, cu stomers, investors, and creditors. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the City Clerk, 3970 Rocklin Road, Rocklin, California, 95677.
62 Page Intentionally Left Blank
63 BASIC FINANCIAL STATEMENTS
64 Page Intentionally Left Blank
65 City of Rocklin
Statement of Net Position
June 30, 2023
(With Comparative Totals for June 30, 2022)
2023 2022
ASSETS
Current Assets:
Cash and investments 121,859,514$ 109,242,029$
Restricted cash and investments 2,260,219 15,747,056 Receivables - net 12,637,497 9,964,668
Inventory and other assets 55,213 74,326 Total Current Assets 136,812,443 135,028,079
Noncurrent Assets:
Leases receivable 4,039,063 -
Loans receivable 6,193,474 10,845,714
Capital assets - net 340,847,057 326,010,958
Total Noncurrent Assets 351,079,594 336,856,672
Total Assets 487,892,037$ 471,884,751$
DEFERRED OUTFLOWS OF RESOURCES
OPEB Adjustments 7,777,719$ 1,995,693$
Pension Adjustments 30,422,216 12,370,918
Total Deferred Outflows of Resources 38,199,935$ 14,366,611$
LIABILITIES
Current Liabilities:
Accounts payable and accrued liabilities 6,668,708$ 7,292,828$ Deposits 1,080,620 770,698
Interest payable 61,779 69,000
Other liabilities 5,329 110,721
Claims payable - current portion 145,345 237,446 Compensated absences - current portion 1,779,223 1,698,440 Long-term debt - due within one year 1,017,243 1,286,357 Total Current Liabilities 10,758,247 11,465,490 Noncurrent Liabilities:
Long-term debt - due after one year 9,503,657 9,947,204 Claims payable 2,327,282 2,595,484
Compensated absences 2,063,057 2,011,662
Net pension liability 63,835,601 28,826,839
Net OPEB liabilit
y 4,617,846 234,349
Total Noncurrent Liabilities 82,347,443 43,615,538 Total Liabilities 93,105,690$ 55,081,028$
DEFERRED INFLOWS OF RESOURCES
Deferred Gain on Early Defeasance of Long-Term Deb
t 884,410$ 1,105,513 $
Leases receivable 4,011,697 -
OPEB Adjustments 3,902,006 4,208,081
Pension Adjustments 3,849,753 19,087,235
Total Deferred Inflows of Resources 12,647,866$ 24,400,829 $
NET POSITION
Net investment in capital assets 329,441,747 $ 313,450,782 $ Restricted for:
CFD operations and maintenance 5,108,432 16,825,936 Housing rehabilitation 13,984,526 12,678,861
Settlements 3,756,563 -
Lighting and landscape operations and maintenance 1,558,949 1,488,598 Police services programs 508,617 418,520
Street maintenance and construction 8,222,981 6,685,709 Expendable endowments 17,024 18,923
Nonexpendable endowments 491,455 491,455
Debt service 1,602,383 2,088,254
Other 761,961 68,879
Total restricted 36,012,891 40,765,135
Unrestricted 54,883,778 52,553,588
Total Net Position 420,338,416$ 406,769,505$
The accompanying notes are an integral part of these financial statements.
Governmental Activities
66 City of Rocklin
Statement of Activities
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
Program Revenues
Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions Total 2023 2022 Primary Government:
Governmental Activities:
General government 17, 316,721$ 604,579 $ 2,569,099 $ 4,130,600 $ 7,304,278 $ (10,012,443) $ 3,621,592 $ Public safety 33,989,917 1,731,051 1,059,523 - 2,790,574 (31,199,343) (23,847,133) Public services 23,913,391 142,386 1,560,758 2,817,854 4,520,998 (19,392,393) (17,392,173) Parks and recreation 7,390,432 2,215,373 110,360 - 2,325,733 (5,064,699) (4,923,611) Community development 5,132,246 4,684,967 544,426 874,517 6,103,910 971,664 3,785,057 Interest and fiscal charges 76,403 - - - - (76,403) (299,252) Total Governmental Activities 87,819,110$ 9,378,356$ 5,844,166$ 7,822,971$ 23,045,493$ (64,773,617) (39,055,520) General Revenues and Special Items:
Taxes:
Property taxes 23,530,699 21,600,498
Sales and use taxes 20,283,218 22,024,957
Gas tax 7,542,652 7,311,965
Transient occupancy taxes 1,042,949 974,865
Other taxes 15,482,638 14,683,952
Total taxes 67,882,156 66,596,237
Motor vehicle fees 73,456 81,409
Franchise fees 2,615,012 2,443,215
Impact fees 806,825 2,734,639
Investment earnings 2,904,931 (654,681)
Other revenues 293,924 2,895,645
Total G
eneral Revenues 74,576,304 74,096,464
Special item - settlements and recoveries 3,755,224 - Special item - gain (loss) on disposal of capital assets 11,000 117,859 Total General Revenues and Special Items 78,342,528 74,214,323 Change in Net Position 13,568,911 35,158,803
Net Position - Beginning of Year 406,769,505 371,610,702 Net Position - End of Year 420,338,416$ 406,769,505$ The accompanying notes are an integral part of these financial statements.
Net (Expense) Revenue and
Change in Net Position
67 Fund Title Fund Description
General Fund Primary operating fund of the City: accounts for all activities except those legally or administratively required to be accounted for in other funds.
Community Facilities District No. 10 Accounts for projects related to the respective community facilities district.
SB325 Sales Tax Accounts for sales tax revenue collected in accordance with Senate Bill 325 to be used for transit services, construction and maintenance of streets.
Low and Moderate Income Housing Asset
Special Revenue
Accounts for the housing assets of the former Rocklin
Redevelopment Agency transferred to the City of Rocklin as Housing Successor.
Traffic Circulation Impact Fee Capital Projects Accounts for activities related to traffic congestion management.
Streets Grants Accounts for funds received as reimbursement or grants related to street capital projects.
American Rescue Plan Act Accounts for funds received from the American Rescue Plan Act of 2021 to be used to respond to or mitigate COVID-19.
MAJOR GOVERNMENTAL FUNDS
68 City of Rocklin
Balance Sheet
Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
Community Low and
Facilities Moderate Income
District No. 10 Housing
General Capital SB325 Asset
ASSETS Fund Projects Sales Tax Fun d
Cash and investments 50,014,252$ -$ 7,024,663$ 9,087,573$ Restricted cash and investments - - - - Receivables:
Taxes 5,223,072 - - - Interest receivable - - - - Intergovernmental 126,878 - 1,532 - Other receivables 968,487 - - - Due from other funds 4,972,104 - - - Prepaid items 3,949 - 119 -
Leases receivable 4,039,063 - - - Loans receivable 33,613 - - 4,076,077 Total assets 65,381,418$ -$ 7,026,314$ 13,163,650$
LIABILITIES, FUND BALANCES AND
DEFERRED INFLOWS OF RESOURCES
Liabilities:
Accounts payable and accrued liabilities 3,333,271$ -$ 317,182$ 22,732$ Deposits 876,619 - - - Due to other funds - - - - Unearned revenues 1,165,598 - 40,546 - Other liabilities 5,329 - - - Compensated absences 1,768,748 - - - Total liabilities 7,149,565 - 357,728 22,732
DEFERRED INFLOWS OF RESOURCES
Leases receivable 4,011,697 - - - Unavailable revenue - - - - Total deferred inflows of resources 4,011,697 - - - Fund Balances:
Nonspendable:
Endowments - - - - Leases receivable 27,366 - - - Long-term receivables 33,613 - - - Restricted - - 6,668,586 13,140,918 Committed 35,198,542 - - - Unassigned (Deficit) 18,960,635 - - - Total fund balances 54,220,156 - 6,668,586 13,140,918 Total liabilities, fund balances and
deferred inflows of resources 65,381,418$ -$ 7,026,314$ 13,163,650$ The accompanying notes are an
integral part of these financial statements.
Continued
Major Funds
69 City of Rocklin
Balance Sheet
Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Cash and investments
Restricted cash and investments
Receivables:
Taxes
Interest receivable
Intergovernmental
Other receivables
Due from other funds
Prepaid items
Leases receivable
Loans receivable
Total assets
LIABILITIES, FUND BALANCES AND
DEFERRED INFLOWS OF RESOURCES
Liabilities:
Accounts payable and accrued liabilities
Deposits
Due to other funds
Unearned revenues
Other liabilities
Compensated absences
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Leases receivable
Unavailable revenue
Total deferred inflows of resources
Fund Balances:
Nonspendable:
Endowments
Leases receivable
Long-term receivables
Restricte
d
Committed
Unassigned (Deficit)
Total fund balances
Total liabilities, fund balances and
deferred inflows of resources
The accompanying notes are an
integral part of these financial statements.
Traffic
Circulation
Impact DOF
Fee Streets ARPA
Fund Grants Funds
16,864,289$ -$ -$
- - - - - - - - - - 3,823,727 -
- 693,802 -
- - - - - - - - - 1,764,798 - -
18,629,087$ 4,517,529$ -$
805$ 251,164$ -$
204,001 - -
- 4,266,366 -
- 892,117 -
- - - - - - 204,806 5,409,647 -
- - - 1,005,022 - -
1,005,022 - -
- - - - - - - - - 759,776 - -
16,659,483 - -
- (892,118) -
17,419,259 (892,118) -
18,629,087$ 4,517,529$ -$
Continued
Major Funds
70 City of Rocklin
Balance Sheet
Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Cash and investments
Restricted cash and investments
Receivables:
Taxes
Interest receivable
Intergovernmental
Other receivables
Due from other funds
Prepaid items
Leases receivable
Loans receivable
Total assets
LIABILITIES, FUND BALANCES AND
DEFERRED INFLOWS OF RESOURCES
Liabilities:
Accounts payable and accrued liabilities
Deposits
Due to other funds
Unearned revenues
Other liabilities
Compensated absences
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Leases receivable
Unavailable revenue
Total deferred inflows of resources
Fund Balances:
Nonspendable:
Endowments
Leases receivable
Long-term receivables
Restricte
d
Committed
Unassigned (Deficit)
Total fund balances
Total liabilities, fund balances and
deferred inflows of resources
The accompanying notes are an
integral part of these financial statements.
Nonmajor
Governmental
Funds 2023 2022
25,148,325$ 108,139,102$ 97,204,110$
2,260,219 2,260,219 15,747,056
718,763 5,941,835 5,897,193 - - 32,412 1,079,787 5,031,924 2,489,406 1,449 1,663,738 1,545,338 - 4,972,104 2,040,220 578 4,646 26,720 - 4,039,063 -
318,986 6,193,474 10,845,714 29,528,107$ 138,246,105$ 135,828,169$ 2,672,769$ 6,597,923$ 7,206,514$ - 1,080,620 770,698 705,738 4,972,104 2,040,220 277,964 2,376,225 7,907,473 - 5,329 110,721 - 1,768,748 1,684,757 3,656,471 16,800,949 19,720,383 - 4,011,697 -
581,871 1,586,893 3,526,699 581,871 5,598,590 3,526,699 491,455 491,455 491,455 - 27,366 -
- 33,613 54,901 14,952,156 35,521,436 40,273,680 10,
558,669 62,416,694 52,396,421
(712,515) 17,356,002 19,364,630 25,289,765 115,846,566 112,581,087 29,528,107$ 138,246,105$ 135,828,169$ Concluded
Total Governmental Funds
71 City of Rocklin
Reconciliation of the Government Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2023
Total Fund Balances - Total Governmental Funds 115,846,566$ Amounts reported for governmental activities in the Statement of Net Position were different because:
Capital assets used in governmental activities were not current financial resources. Therefore, they were not reported in the Governmental Funds Balance Sheet. The capital assets were adjusted as follows:
Capital assets 597,605,594
Less: accumulated depreciation (262,822,112)
Total Capital Assets 334,783,482
Interest payable on long-term debt did not require current financial resources. Therefore, interest payable was not reported as a liability in Governmental Funds Balance Sheet. (61,779) Internal service funds are used by management to charge the costs of vehicle maintenance and various insurance costs to individual funds. The assets and liabilities of the internal service funds are included in the governmental activities in the Statement of Net Position. 17,279,434
Benefit plan adjustments from timing differences, including contributions made to benefit plans that reduce the net benefit liability in the next fiscal year, the impact from changes in proportionate shares on beginning balances, and differences between projected and actual earnings on plan investments, have been reported as deferred outflows of resources. 38,199,935 Benefit plan adjustments from timing differences, including changes in assumptions, differences between expected and actual experiences, changes in proportionate shares related to contributions and differences between projected and actual earnings on plan investments, have been reported as deferred inflows of resources. (7,751,759)
Certain revenues were recorded as deferred inflows of resources in the governmental funds because they did not meet the revenue recognition criteria of availability. However, they were previously included as revenue in the Government-Wide Statement of Activities under the full accrual basis. 1,586,893 Liabilities were reported for certain revenues that were not available to pay current period expenditures and were reported as unearned in the fund statements. 2,376,225 Long-term debt defeasances are reported in the funds as other financing uses based on cash payments related to the repayment of debt. However, the difference between the refunded debt and the refunding debt is reported as a deferred gain or loss in the government-wide statement of net position. (884,410)
Long-term obligations were not due and payable in the current period. Therefore, they were not reported in the Governmental Funds Balance Sheet. The long-term liabilities were adjusted as follows:
Long-term debt (10,520,900)
Compensated absences (2,061,824)
Net pension liability (63,835,601)
Net OPEB liability (4,617,846)
Total Long-Term Obligations (81,036,171)
Net Position of Governmental Activities 420,338,416$
The accompanying notes are an integral part of these financial statements. 72 City of Rocklin
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
Community Low and
Facilities Moderate Income
District No. 10 Housing
General Capital SB325 Asset
Fund Projects Sales Tax Fund
REVENUES
Taxes and assessments 48,498,630$ -$ 5,586,487$ -$ Licenses and permits 3,378,389 - - - Fines and forfeitures 195,898 - - - Intergovernmental 920,203 - 668,251 - Charges for services 2,337,942 - - - Use of money and property 1,731,137 87,968 83,399 1,606,868 Contributions and donations 6,420,533 - - - Other revenues 557,262 8,238 - - Total Revenues 64,039,994 96,206 6,338,137 1,606,868
EXPENDITURES
Current:
General government 17,178,373 - 28,766 - Public safet
y 32,367,589 - - - Public services 3,585,599 - 2,347,637 - Parks and recreation 4,911,681 - - - Community development 4,502,655 - 71 147,966 Capital outlay 5,938,387 13,096,206 1,419,832 - Debt service:
Principal 8,403 - - - Interest and fiscal charges 9,492 - - - Total Expenditures 68,502,179 13,096,206 3,796,306 147,966 Excess (Deficiency) of Revenues over Expenditures (4,462,185) (13,000,000) 2,541,831 1,458,902
OTHER FINANCING SOURCES (USES)
Settlements and recoveries - - - - Transfers in 12,651,314 - - - Transfers out (2,007,442) - (504,633) (153,500) Total Other Financing Sources (Uses) 10,643,872 - (504,633) (153,500) Net Change in Fund Balances 6,181,687 (13,000,000) 2,037,198 1,305,402
Fund Balances Beginning 48,038,469 13,000,000 4,631,388 11,835,516 Fund Balances Ending 54,220,156$ -$ 6,668,586$ 13,140,918$ The accompanying notes are an
integral part of these financial statements.
Continued
Major Funds
73 City of Rocklin
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Charges for services
Use of money and propert
y
Contributions and donations
Other revenues
Total Revenues
EXPENDITURES
Current:
General government
Public safet
y
Public services
Parks and recreation
Community development
Capital outla
y
Debt service:
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
The accompanying notes are an
integral part of these financial statements.
Traffic
Circulation
Impact DOF
Fee Streets ARPA
Fund Grants Funds
675,895$ - $ - $
- - - - - - 502,511 4,861,077 6,838,730 - - - 301,608 - -
- - - - - - 1,480,014 4,861,077 6,838,730 - - - - - - - - - - - - 1,307 - - 805 4,292,929 -
- - - - - - 2,112 4,292,929 -
1,477,902 568,148 6,838,730 - - - - - - (38,563) - (6,838,730) (38,563) - (6,838,730) 1,439,339 568,148 -
15,979,920 (1,460,266) -
17,
419,259$ (892,118)$ -$
Continued
Major Funds
74 City of Rocklin
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Charges for services
Use of money and propert
y
Contributions and donations
Other revenues
Total Revenues
EXPENDITURES
Current:
General government
Public safet
y
Public services
Parks and recreation
Community development
Capital outla
y
Debt service:
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
The accompanying notes are an
integral part of these financial statements.
Nonmajor
Governmental
Funds 2023 2022
16,920,016$ 71,681,028 $ 71,341,177 $ 35,611 3,414,000 4,627,174 101,111 297,009 366,458 1,258,537 15,049,309 5,538,565 113,022 2,450,964 2,875,150 369,766 4,180,746 540,780 883,895 7,304,428 14,752,919 - 565,500 3,020,547 19,681,958 104,942,984 103,062,770 225,260 17,432,399 11,024,751 405,651 32,773,240 30,773,624 8,150,672 14,083,908 13,503,446 2,412,253 7,323,934 6,679,151 381,263 5,033,262 4,582,399 1,566,289 26,314,448 7,246,514
1,286,357 1,294,760 1,326,650 322,786 332,278 339,802 14,750,531 104,588,229 75,476,337 4,931,427 354,755 27,586,433
3,755,224 3,755,224 -
1,649,753 14,301,067 5,942,031 (5,602,699) (15,145,567) (5,893,731) (197,722) 2,910,724 48,300 4,733,705 3,265,479 27,634,733 20,556,060 112,581,087 84,
946,354
25,289,765$ 115,846,566$ 112,581,087$ Concluded
Total Governmental Funds
75 City of Rocklin
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Government-Wide Statement of Activities
For the Year Ended June 30, 2023
Net Change in Fund Balances - Total Governmental Funds 3,265,479$ Amounts reported for governmental activities in the Statement of Activities were different because:
Governmental Funds report capital outlay as expenditures. However, in the Government-Wide Statement of Activities, the cost of those assets was allocated over their estimated useful lives as depreciation expense.
Capital outlay 25,911,854
Depreciation expense (11,116,436)
Internal service funds are used by management to charge the costs of vehicle maintenance, and various insurance costs to individual funds. The net revenue or (excess expenses) of the internal service funds is reported with government activities. 1,495,028 Certain revenues were not recorded or recorded as unearned revenue in the governmental funds because they did not meet the revenue recognition criteria of availability. However, they were included as revenue in the Government-Wide Statement of Activities under the full accrual basis. (5,531,248) Certain revenues were recorded as deferred inflows of resources in the governmental funds because they did not meet the revenue recognition criteria of availability. However, they were included as revenue in the Government-Wide Statement of Activities under the full accrual basis. (1,939,806) Long-term compensated absences and claims payables were reported in the Government-Wide Statement of Activities, but they did not require the use of current financial resources and were not reported as expenditures in governmental funds.
Compensated absences (51,217)
In governmental funds, actual contributions to pension plans are reported as expenditures in the year incurred. However, in the Government-Wide Statement of Activities, only the current year pension expense as noted in the plans' valuation reports is reported as an expense, as adjusted for deferred inflows and outflows of resources. (1,719,982)
Repayment of long-term debt was an expenditure in governmental funds, but the repayment reduced long-term liabilities in the Government-Wide Statement of Net Position. 1,543,414 Certain expenses reported in the statement of activities do not require the use of current financial resources and are not reported as expenditures in the fund statements as follows:
Other postemployment benefits adjustments and deferrals 1,704,604 Interest expense on long-term debt was reported in the Government-Wide Statement of Activities, but it did not require the use of current financial resources. Therefore, interest expense was not reported as expenditures in governmental funds. The following amount represented the net change in accrued interest from prior year. 7,221 Change in Net Position of Governmental Activities 13,568,911$ The accompanying notes are an integral part of these financial statements. 76 City of Rocklin
Statement of Net Position
Internal Service Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
2023 2022
ASSETS
Current assets:
Cash and investments 13,720,412$ 12,037,919$
Accounts receivable - 319
Inventory and other 50,567 47,606
Total current assets 13,770,979 12,085,844
Non-current assets:
Capital assets - net 6,063,575 6,632,544
Total non-current assets 6,063,575 6,632,544
Total assets 19,834,554$ 18,718,388$
LIABILITIES
Current liabilities:
Accounts payable and accrued liabilities 70,785$ 86,314$ Claims payable 145,345 237,446
Compensated absences - current portion 10,475 13,683
Total current liabilities 226,605 337,443
Non-current liabilities:
Claims payable 2,327,282 2,595,484
Compensated absences 1,233 1,055
Total non-current liabilities 2,328,515 2,596,539 Total liabilities 2,555,120$ 2,933,982$
NET POSITION
Net Investment in capital assets 6,063,575$ 6,632,544$ Unrestricted 11,215,859 9,151,862
Total net position 17,279,434$ 15,784,406$
The accompanying notes are an integral part of these financial statements.
Totals
77 City of Rocklin
Statement of Revenues, Expenses and Changes in Fund Net Position Internal Service Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
2023 2022
OPERATING REVENUES
Charges for services 5,911,674 $ 5,875,186 $
Intergovernmental 2,804 128,166
Other revenue 11,047 26,598
Total operating revenues 5,925,525 6,029,950
OPERATING EXPENSES
Salaries and benefits 2,266,381 2,819,760
Services and supplies 2,554,476 2,322,174
Depreciation 1,003,751 957,993
Total operating expenses 5,824,608 6,099,927
Operating income (loss) 100,917 (69,977)
NONOPERATING REVENUES (EXPENSES)
Gain (loss) on sale of assets 11,000 117,860 Investment earnings 136,016 16,126
Total nonoperating revenues (expenses) 147,016 133,986 Income (loss) before operating transfers 247,933 64,009 Transfers in 898,000 -
Transfers out (53,500) (48,300)
Income (loss) before capital contributions 1,092,433 15,709 Capital contributions 402,595 1,770,472
Change in net position 1,495,028 1,786,181
Total net position - beginning 15,784,406 13,998,225 Total net position - ending 17,279,434$ 15,784,406$
The accompanying notes are an integral part of these financial statements.
Totals
78 City of Rocklin
Statement of Cash Flows
Internal Service Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
2023 2022
Cash flows from operating activities:
Receipts from interfund services provided 5,911,993 $ 5,890,417 $ Other receipts 13,851 154,764
Payments to suppliers for goods and services (2,927,388) (1,660,227) Payments to employees for services (2,275,292) (2,819,838) Net cash provided (used) by operating activities 723,164 1,565,116 Cash flows from noncapital financing activities:
Interfund transactions 844,500 (48,300)
Net cash provided (used) by noncapital financing activities 844,500 (48,300) Cash flows from capital financing activities:
Purchases (sales) of capital assets - net (423,782) (1,885,695) Proceeds from capital contributions 402,595 1,770,472 Net cash provided (used) by capital financing activities (21,187) (115,223) Cash flows from investing activities:
Investment income received 136,016 16,126
Net cash provided (used) by investing activities 136,016 16,126 Net increase (decrease) in cash and cash equivalents 1,682,493 1,417,719 Cash and cash equivalents - beginning 12,037,919 10,620,200 Cash and cash equivalents - ending 13,720,412 $ 12,037,919 $ Reconciliation of operating income to net cash provided (used) by operating activities:
Operating income (loss) 100,917 $ (69,977) $
Adjustments to reconcile operating income (loss)
to net cash provided (used) by operating activities:
Depreciation 1,003,751 957,993
Change in operating assets and liabilities:
Accounts receivable 319 15,231
Inventory (2,961) (3,589)
Accounts payable and accrued liabilities (15,529) (12,384) Claims payable (360,303) 681,068
Compensated absences (3,030) (3,226)
Net cash provided (used) by operating activities 723,164 $ 1,565,116 $ The accompanying notes are an integral part of these financial statements.
Totals
79 Successor
Agency
Private-Purpose Total
Trust Custodial Fiduciary
Funds Funds Funds
ASSETS
Current assets:
Cash and investments 1,226,092 $ 4,839,666 $ 6,065,758 $ Cash and investment with trustee/fiscal agent 559 4,083,337 4,083,896 Accounts receivable - 82,637 82,637
Total current assets 1,226,651 9,005,640 10,232,291 Non-current assets:
Land 480,576 - 480,576
Total assets 1,707,227$ 9,005,640$ 10,712,867$
LIABILITIES
Current liabilities:
Unearned revenues 469,565$ -$
469,565$
Interest payable 253,075 - 253,075
Due within one year 895,390 - 895,390
Total current liabilities 1,618,030 - 1,618,030 Noncurrent liabilities:
Bonds payable - net 16,785,466 - 16,785,466
Total liabilities 18,403,496$ -$
18,403,496$
NET POSITION
Held in trust for Redevelopment Dissolution (16,696,269)$ -$ (16,696,269)$
Restricted for individuals, organizations and other governments - 9,005,640 9,005,640 Total Net Position (16,696,269)$ 9,005,640$ (7,690,629)$ The accompanying notes are an integral part of these financial statements.
City of Rocklin
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2023
80 Successor
Agency
Private-Purpose Total
Trust Custodial Fiduciary
Funds Funds Funds
ADDITIONS
Property taxes 999,524 $ - $ 999,524$ Tax assessments - 4,396,190 4,396,190 Investment earnings 9,031 193,452 202,483 Other revenue - 14,065 14,065 Total additions 1,008,555 4,603,707 5,612,262
DEDUCTIONS
Professional services 5,200 107,700 112,900 Program supplies and materials - 6,683 6,683 Fees and charges 60,000 43,171 103,171 Repairs and maintenance 1,600 - 1,600 Debt service principal - 2,978,677 2,978,677 Debt service interest 660,085 2,293,035 2,953,120 Transfer to City funds - 8,238 8,238 Total deductions 726,885 5,437,504 6,164,389
Change in net position 281,670 (833,797) (552,127) Total net position - beginning (16,977,939) 9,839,437 (7,138,502) Total net position - ending (16,696,269)$ 9,005,640$ (7,690,629)$ The accompanying notes are an integral part of these financial statements.
City of Rocklin
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended June 30, 2023
81 NOTES TO FINANCIAL STATEMENTS
82 This page intentionally left blank
83 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Rocklin (City) was incorporated in 1893 under the laws and regulations of the State of California (State). The City operates under a City Council/Manager form of government and provides the following services: general government, community development, public safety, parks and recreation, and public services.
The basic financial statements of the City have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental agencies. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the City's accounting policies are described below.
A. Financial Reporting Entity
The City operates as a self-governing local government unit within the State. It has limited authority to levy taxes and has the authority to determine user fees for the services that it provides. The City’s main funding sources include property taxes, sales taxes, other intergovernmental revenue from state and federal sources, user fees, and federal and state financial assistance.
The financial reporting entity consists of (a) the primary government, the City, (b) organizations for which the primary government is financially accountable, and (c) other organizations for which the primary government is not accountable, but for which t he nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity’s financial statements to be misleading or incomplete. Financial accountability is defined as the appointment of a voting majority of the component unit’s board, and either (a) the City has the ability to impose its will on the organization, or (b) there is a potential for the organization to provide a financial benefit to or impose a financial burden on the City.
As required by GAAP, these financial statements present the government and its component unit, an entity for which the government is considered to be financially accountable. This component unit is reported on a blended basis. A blended component unit, although a legally separate entity, is, in substance, part of the government’s operations and so data from this unit is combined with data of the primary government. The financial statement of the individual component unit, if applicable as indicated below, may be obtained from the City of Rocklin website.
The City’s reporting entity includes the following blended component unit:
Rocklin Public Financing Authority
The Rocklin Public Financing Authority (Authority) was formed on December 13, 1994, as a joint powers authority between the City and the former Redevelopment Agency to serve as a financing mechanism for various capital projects. Upon the dissolution of the Rocklin Redevelopment Agency on February 1, 2012, the City appointed itself successor agency governed by an oversight board consisting of members from all taxing authorities in the redevelopment area to wind up all redevelopment activities, which consiste d primarily of debt. Because of the limited authority of the successor, their membership in the Authority is also limited as the successor cannot obligate the Authority or issue new debt on its own. The City Council acts as the governing board in a concurrent session. The Authority provides services solely for the benefit of the City and is presented in the governmental activities in the fund financial statements as a blended component unit.
84 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
B. Basis of Presentation, Accounting and Measurement Focus
The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures or expenses, as appropriate. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled.
Government-
Wide Financial Statements
The City's government -wide financial statements include a Statement of Net Position a nd a Statement of Activities. These statements present summaries of governmental activities for the City. Fiduciary activities of the City are not included in these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities , which rely to a significant extent on fees and charges for support. The City did not have any business -type activities during the year.
These statements are presented on an "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all of the City's assets, deferred outflows of resources, liabilities, deferred inflows of resources (including capital assets, as well as infrastructure assets, and long-term liabilities), are included in the accompanying Statement of Net Position. The Statement of Activities presents changes in net position.
Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred. The Statement of Activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those clearly identifiable with a specific function or segment. In conformity with the City’s indirect cost allocation plan, certain indirect costs are included in the program expense reported for individual functions and activities.
Certain types of transactions are reported as program revenues for the City in three categories:
• Charges for services
• Operating grants and contributions
• Capital grants and contributions
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the fiduciary funds are excluded from the government -wide financial statements. Major individual governmental funds are reported as separate columns in the fund financial statements.
Certain eliminations have been made as prescribed by GASB Statement No. 34 in regards to interfund activities, payables, and receivables. All internal balances in the Statement of Net Position have been eliminated. The following interfund activities have been eliminated:
• Transfers in/Transfers out
• Internal Service Fund charges
85 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Fund Financial Statements
Governmental Funds
Governmental fund financial statements include a Balance Sheet and a Statement of Revenues, Expenditures and Changes in Fund Balances for all major governmental funds and non-major funds aggregated. An accompanying schedule is provided to reconcile and expla in the differences in fund balances in th ese statements to the net position presented in the government -wide financial statements. The City has presented all major funds that met the applicable criteria.
All governmental funds are accounted for on a spending or "current financial resources" measurement focus and the modified accrual basis of accounting. Accordingly, only current assets, deferred outflows of resources, current liabilities, and deferred inflows of resources are included on the balance sheets. The Statement of Revenues, Expenditures and Changes in Fund Balances present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets.
Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period. Accordingly, revenues are recorded when received in cash, except that revenues subject to accrual (up to 60 days after year-end) are recognized when due. The primary revenue sources, which have been treated as susceptible to accrual by the City, are property tax, sales tax, special assessments, intergovernmental rev enues, other taxes, interest revenue, rental revenue and certain charges for services. Fines, forfeitures, licenses and permits are not susceptible to accrual because they are usually not measurable until received in cash.
Expenditures are recorded in the accounting period in which the related fund liability is incurred.
Unearned revenues arise when potential revenues do not meet both the "measurable" and "available" criteria for recognition in the current period. Unearned revenues also arise when the government receives resources before it has a legal claim to them, as wh en grant monies are received prior to incurring qualifying expenditures. In subsequent periods when both revenue recognition criteria are met or when the government has a legal claim to the resources, the unearned revenue is removed from the combined balance sheet and revenue is recognized.
The following funds are major funds:
General Fund
The General Fund is used to account for resources traditionally associated with the City , which are not required legally or by sound financial management to be accounted for in another fund. The General Fund pays for the City’s general operating expenditures, the fixed charges, and the capital costs that are not paid through other funds. The General Fund is a combination of other funds, which include, Quarry Park Amphitheater, Quarry Park Adventures Reserve, Streets Maintenance Reserve, Economic Development Reserve, Technology Fee, Retirees Health, Boroski Landfill Monitoring, ADA, and Parks Maintenance Reserve.
Community Facilities District No. 10
This fund was established to account for capital projects related to Community Facilities District No. 10 that was formed in 2005 to issue bonds for the construction of transportation, wastewater system, drainage, and landscaping facilities and other public improvements for development within the Whitney Ranch District.
86 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Low and Moderate Income Housing Asset Fund
This special revenue fund accounts for the administration and operation of the City’s low and moderate income housing program of the former Rocklin Redevelopment Agency transferred to the City of Rocklin as the Housing Successor.
Traffic Circulation Impact Fee Capital Projects Fund
This capital projects fund accounts for activities related to congestion management and traffic relief.
SB325 Sales Tax Fund
This fund accounts for sales tax revenue collected in accordance with Senate Bill 325 to be used for transit services, construction and maintenance of streets.
Streets Grants Fund
This fund accounts for funds received as reimbursement or grants related to street capital projects.
American Rescue Plan Act Fund
This fund accounts for funds received from the American Rescue Plan Act of 2021 to be used to respond to or mitigate COVID-19.
Additionally, the City reports the following nonmajor fund types of governmental funds:
Special Revenue Funds
Special revenue funds account for and report the proceeds of specific revenue sources that are restricted , committed or assigned to specific purposes other than debt service or capital projects.
Capital Project Funds
Capital project funds account for and report financial resources that are restricted, committed, or assigned to expenditure for capital outlays, including the acquisition or construction of capital facilities and other capital assets in governmental funds.
Debt Service Funds
Debt service f unds account for the accumulation of resources for, and payment on, long-term obligation debt principal and interest.
Permanent Funds
Permanent funds account for and report financial resources for the principal corpus of endowments where only the investment earnings can be spent on specified purposes.
Proprietary Funds
In the fund financial statements, proprietary funds are presented using the accrual basis of accounting.
Revenues are recognized when they are earned and expenses are recognized when the related goods or services are delivered. In the fund financial statements, proprietary funds are presented using the “economic resources measurement focus”. This means all assets, deferred outflow s of resources, liabilities (whether current or noncurrent) and deferred inflow s of resources associated with their activities a re included on their balance sheets. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in total net position.
Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with principal activity of the fund. Exchange transactions are those in which each party receives 87 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
and gives up essentially equal value. Non-operating revenues, such as subsidies, taxes, and investment earnings result from nonexchange transactions or ancillary activities.
The City’s internal service funds are proprietary funds. Internal service funds account for charges to City departments for services provided, on a cost reimbursement basis. Amounts paid to acquire capital assets are capitalized as assets in the internal service funds financial statements.
Fleet Management Internal Service Fund
The Fleet Management Internal Service Fund is used to account for the financing of the City’s fleet services provided by one City department to other departments on a cost -reimbursement basis. The Fleet Management Internal Service Fund balances and activities have been combined with governmental activities in the government-wide financial statements.
Risk Management Internal Service Fund
The Risk Management Internal Service Fund is used to account for and finance the risk management functions for the City. This includes : general liability, workers compensation, property damage, dental, vision, and other insurance expenditures and also holds resources for Self -Insured Losses and Disaster Contingency. The Risk Management Internal Service Fund balances and activities have been combined with governmental activities in the government-wide financial statements.
Fiduciary Funds
Private Purpose Trust Funds
Private Purpose Trust Funds account for resources held for other individuals and entities in a manner similar to private enterprise.
Custodial Funds
Custodial Funds are used to account for assets held by the City in a trustee capacity or as a custodian for individuals, private organizations, other governments and/or other funds. Custodial funds are used to report fiduciary activities that are not required to be reported in pension (and other employee benefits) trust funds, investment trust funds, or private-purpose trust funds. Custodial funds are accounted for using an economic resource measurement focus and require a resource flow statement.
C. Cash Deposits and Investments
The City pools its available cash for investment purposes. The City's cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturity of three months or less from the date of acquisition. Cash and cash equivalents are combined with investments and displayed as Cash and Investments.
Deposit and Investment Risk Disclosures - In accordance with GASB Statement No. 40, Deposit and Investment Disclosures (Amendment of GASB Statement No. 3), certain disclosures are required for Deposit and Investment Risks in the following areas, if applicable:
• Interest Rate Risk
• Credit Risk
o Overall
o Custodial Credit Risk
o Concentrations of Credit Risk
• Foreign Currency Risk
88 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Other disclosures are specified including use of certain methods to present deposits and investments, highly sensitive investments, credit quality at year-end and other disclosures.
The City participates in the Local Agency Investment Fund (LAIF), an investment pool for local governments and special districts managed by the State of California. Under Federal Law, the State of California cannot declare bankruptcy; therefore , deposits in LAIF shall not be subject to either of the following: (a) transfer or loan pursuant to Government Code Sections 16310, 16312, or 16313, or (b) impoundment or seizure by any state official or state agency.
The City participates in the Placer County Treasurers Investment Portfolio, an investment pool for local governments, school districts, and special districts in Placer County. Investments are made in accordance with Government Code Section 27000.5, “When investing, reinvesting, purchasing, acquiring, exchanging, selling, and managing public funds, the primary objective of the county treasurer is to safeguard the principal of the funds under his or her control. The secondary objective is to meet the liquidity needs of the depositor. The third objective is to achieve a return on the funds under his or her control.”
Investments are recorded at fair value in accordance with GASB Statement No. 72, Fair Value Measurement and Application. Accordingly, the change in fair value of investments is recognized as an increase or decrease to investment assets and investment income.
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction. In determining this amount, three valuation techniques are available:
• Market approach - This approach uses prices generated for identical or similar assets or liabilities.
The most common example is an investment in a public security traded in an active exchange such as the New York Stock Exchange.
• Cost approach - This technique determines the amount required to replace the current asset. This approach may be ideal for valuing donations of capital assets or historical treasures. • Income approach - This approach converts future amounts (such as cash flows) into a current discounted amount.
Each of these valuation techniques requires inputs to calculate a fair value. Observable inputs have been maximized in fair value measures, and unobservable inputs have been minimized.
D. Interfund Receivables and Payables
Items classified as interfund receivables/payables are referred to as “advances to/advances from other funds” or as “due to/from other funds”. Due to/from other funds include short-term lending/borrowing transactions between funds. This classification also includes the current portion of an advance to or from another fund.
Advances to/advances from other funds represents non -current portions of any long-term lending/borrowing transactions between funds. This amount will be equally offset by a reserve of fund balance, which indicates that it does not represent available financial resources, and is not available for appropriation.
E. Receivables
In the government -wide statements, receivables consist of all revenues earned at year -end and not yet received. Major receivable balances for the governmental activities include property taxes, sales and use taxes, transient taxes, franchise taxes, intergovernmental subventions, interest earnings, and expense reimbursements.
89 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
In the fund financial statements, material receivables in governmental funds include revenue accruals such as property tax, sales tax, transient tax, franchise tax, and intergovernmental subventions since they are usually both measurable and available. Non-exchange transactions collectible but not available, such as property tax, are deferred in the fund financial statements in accordance with the modified accrual basis, but not deferred in the government-wide financial statements in accordance with the accrual basis.
Interest and investment earnings are recorded when earned only if paid within 60 days since they would be considered both measurable and available. The City’s experience is that all accounts receivable are collectible; therefore an allowance for doubtful accounts is unnecessary.
F. Loans Receivable
Under the City’s housing assistance program, loans are made to qualified individuals and businesses within prescribed project areas for the purpose of housing acquisition, housing rehabilitation and/or economic development. The majority of these loans are on a deferred payback program . Repayments of the outstanding loans are applied to the principal balance of the loan receivable. The long-term portion of loans receivable has been offset by Unearned Revenues in the accompanying financial statements, as applicable.
G. Leases Receivable
The City’s measures leases receivable at the present value of rent payments expected to be received during the contract term. The City records deferred inflow s of resources at the initiation of the contract in an amount equal to the initial recording of the leases receivable plus incentive payments received, if any. The deferred inflow of resources is amortized on a straight-line basis over the term of the contract. If there is no stated rate in the contract and the implicit rate cannot be determined, the City uses its own estimated incremental borrowing rate as the discount rate to measure the leases receivable. The City’s estimated incremental borrowing rate is based on its actual incremental borrowing rate for the most recent debt issuance.
H. Inventories
The City maintains an inventory for fuel that is recorded at cost in the Fleet Internal Service Fu nd and expensed when consumed. The cost of other consumable materials and supplies on hand are immaterial to the financial statements, and the City has therefore chosen to report these items as expenditures/expenses at the time of purchase.
I. Capital Assets
The City's assets are capitalized at historical cost or estimated historical cost, if actual is unavailable, except for donated capital assets. Donated works of art and similar items, and capital assets received in a service concession arrangement , are reported at acquisition value at the date of donation. Policy has set the capitalization threshold for reporting at $10,000 for non-i nfrastructure capital assets, $5,000 for grant funded non-infrastructure capital assets, and $100,000 for infrastructure capital assets.
Public domain (infrastructure) capital assets include streets, bridges, curbs and gutters, sidewalks, drainage systems, and lighting systems. The accounting treatment of property, plant and equipment (capital assets) depends on whether the assets are used in governmental fund operations or proprietary fund operations and whether they are reported in the government-wide or fund financial statements. 90 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Depreciation/amortization of all exhaustible capital assets is recorded as an allocated expense in the Statement of Activities, with accumulated depreciation/amortization reflected in the Statement of Net Position. Depreciation/amortization is provided over the assets’ estimated useful lives using the straight - line method of depreciation. The range of estimated useful lives by asset type is as follows:
Equipment, machinery and vehicles 3-10 years
Facilities and improvements 15 years
Infrastructure 25-50 years
Buildings and building improvements 30 years
Intangible right-to-use lease assets are amortized over the shorter of the lease term or the useful life of the underlying asset, unless the lease contains a purchase option that the City has determined is reasonably certain of being exercised, then the lease asset is amortized over the useful life of the underlying asset.
Intangible right-to-use subscription assets are amortized over the shorter of the subscription term or the useful life of the underlying information technology asset.
In the fund financial statements, capital assets used in governmental fund operations are accounted for as capital outlay expenditures of the governmental fund upon acquisition. Capital assets used in proprietary fund operations are accounted for in the same way as in the government-wide statements.
J. Deferred Outflows/Deferred Inflows
Deferred outflows of resources is a consumption of net assets by the City that is applicable to a future reporting period; for example, prepaid items and deferred charges. Deferred inflows of resources is an acquisition of net assets by the City that is applicable to a future reporting period; for example, unearned revenue and advance collections. The City has deferred outflows and deferred inflows of resources related to the implementation of GASB 68 for pension retirement plan s, GASB 75 for Other Post Retirement Benefit Plans, and leases receivables.
K. Interest Payable
In the government -wide financial statements, interest payable on long -term debt is recognized as an incurred liability for governmental fund types. The City has not allocated the interest on long- term debt to departments.
In the fund financial statements, governmental fund types do not recognize the interest payable when the liability is incurred. Interest on long-term debt is recorded in the fund statements when payment is made.
L. Claims Payable
The City records a liability to reflect an actuarial estimate of ultimate uninsured losses for general liability claims. The estimated liability for these claims includes "incurred but not reported" (IBNR) claims. There is no fixed payment schedule to pay these liabilities.
M. Compensated Absences
The City’s policies regarding vacation time and compensatory time permit employees to accumulate earned but unused leave, up to limits agreed upon with by individual employee bargaining units. This debt is 91 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
estimated based on historical trend analysis, the current portion of which is reported in the General Fund, the remaining balance is shown in the government-wide financial statements.
N. Long-Term Liabilities
The accounting treatment of long-term liabilities depends on whether the assets are used in governmental fund operations or proprietary fund operations and whether they are reported in the government -wide or fund financial statements.
All long -term liabilities to be repaid from governmental resources are reported as liabilities in the government-wide statements. The long -term liabilities consist of Lease Revenue Bonds and unamortized premiums, direct borrowings, the net OPEB liability, the pension obligations, compensated absences, and a liability for claims.
Long-term liabilities for governmental funds are not reported as liabilities in the fund financial statements.
The debt proceeds are reported as revenue. Payment s of principal and interest reported as expenditures.
Long-term liabilities for proprietary funds are reported in the f und statements similar to how they are reported in the government -wide statements. Debt proceeds are reported as liabilities and payments are reported as reductions to the liability and as interest expense.
O. Subscription Based Information Technology Arrangements
The City recognizes subscription liabilities with an initial, individual value of $50,000 or more. The City uses its estimated incremental borrowing rate to measure subscription liabilities unless it can readily determine the interest rate in the arrangement. The City’s estimated incremental borrowing rate is based on its actual incremental borrowing rate for the most recent debt issuance.
P. Pensions Expense
For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City’s California Public Employees’ Retirement System (CalPERS) pla ns (the Plans) and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by CalPERS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
Q. Other Postemployment Benefits Other Than Pensions (OPEB)
For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense information about the fiduciary net position of the City’s Retiree Benefits Plan (the OPEB Plan) and additions to/deductions from the OPEB Plan's fiduciary net position have been determined on the same basis as they are reported by the OPEB Plan. For this purpose, the OPEB Plan recognizes benefit payments when due and payable in accordance with the benefit terms.
Investments are reported at fair value, except for money market investments and participating interest - earning investment contracts that have a maturity at the time of purchase of one year or less, which are reported at cost.
Valuation Date June 30, 2021
Measurement Date June 30, 2022
Measurement Period July 1, 2021 to June 30, 2022
92 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
R. Fund Balances
In accordance with GASB 54, Fund Balance Reporting and Governmental Fund Type Definitions, the City classifies governmental fund balances as follows:
Nonspendable
• Assets that will never convert to cash (prepaid items, inventory). • Assets that will not convert to cash soon enough to affect the current period (long-term loans receivable). • Resources that must be maintained intact pursuant to legal or contractual requirements (the principal of an endowment).
Restricted
• Resources that are subject to externally enforceable legal restrictions imposed by parties outside the City (Creditors, Grantors, Contributors, other Governments). • Resources that are subject to limitations imposed by law through constitutional provisions or legislation (Gas Tax).
Committed
• Self-imposed limitations set in place prior to the end of the period (encumbrances, economic contingencies, and uncertainties).
• Limitation established at the highest level of decision -making (Council) and requires formal action at the same level to remove.
• Council resolution is required to establish, modify, or rescind a fund balance commitment.
Assigned
• Amounts in excess of nonspendable, restricted, and committed fund balance in funds other than the General Fund are reported as assigned fund balance.
Unassigned
• Residual net resources.
• Total fund balance in the General Fund in excess of nonspendable, restricted, committed, and assigned fund balance (surplus).
• Excess of nonspendable, restricted, and committed fund balance over total fund balance (deficit).
Flow Assumption / Spending Order Policy
When expenditures are incurred for purposes for which both restricted and unrestricted fund balance is available, the City considers restricted funds to be spent first. When expenditures are incurred for which committed, assigned, or unassigned fund balances are available, the City considers amounts to be spent first out of committed funds, then assigned funds, and finally, unassigned funds, as needed, unless the City Council has directed otherwise.
S. Net Position
In the government-wide financial statements, net position is classified in the following categories:
Net Investment in Capital Assets
This amount consists of capital assets net of accumulated depreciation and reduced by outstanding debt that is attributed to the acquisition, construction, or improvement of the assets. In addition, deferred outflows of resources and deferred inflows of resources that are attributable to the acquisition, construction, or 93 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
improvement of those assets or related debt are also included in the net investment in capital assets component of net position.
Restricted Net Position
This amount is restricted by external creditors, grantors, contributors, or laws and regulations of other governments. Certain proceeds from debt and loans are reported as restricted net position because their use is limited by applicable debt or other covenants.
Unrestricted Net Position
This amount is net position that do es not me et the definition of "net investment in capital assets" or "restricted net position."
The detail of amounts reported for each of the above defined net position categories is reported in the government-wide Statement of Net Position.
Use of Restricted/Unrestricted Net Position
When an expense is incurred for purposes for which both restricted and unrestricted net position is available, the City's policy is to apply restricted net position first.
T. Interfund Transactions
Interfund services provided and used are accounted for as revenue, expenditures or expenses, as appropriate.
Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursed fund.
Nonrecurring or non-routine permanent transfers of equity are reported as residual equity transfers. All other interfund transactions, except for interfund services provided and used and reimbursements, are reported as transfers.
U. Property Taxes and Special Assessments
Under California law, property taxes are assessed and collected by the counties up to 1% of assessed value, plus other increases approved by the voters. The property taxes go into a pool, and are then allocated to the cities in accordance with statutory regulations.
Property taxes attach annually as an enforceable lien on January 1. Taxes are levied on January 1, are payable in two installments, and are delinquent at December 10 and April 10. The County of Placer (the County) is responsible for the collection and allocation of property taxes. The County apportions secured property tax revenue in accordance with the alternate methods of distribution, the “Teeter Plan,” as prescribed by Section 4717 of the California Revenue and Taxation code. Therefore, the City receives 100% of the secured property tax levies to which it is entitled, whether or not collected.
V. Stewardship, Compliance, and Accountability
It is the City's policy to adopt annual budgets. The City Council may amend the budget by motion during the fiscal year.
Expenditures may not legally exceed appropriations at the fund level. Appropriations lapse at the end of the fiscal year. Budget information is presented for governmental fund types on a basis consistent with 94 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
accounting principles generally accepted in the United States of America. Budgeted revenue and expenditure amounts represent the original budget and all approved budget amendments.
The City follows these procedures in establishing the budgetary data reflected in the financial statements:
1. Public meetings are conducted to obtain public comments. The City Council annually adopts the budget for the ensuing fiscal year prior to July 1st.
2. Legally adopted budgets and formal budgetary integration is employed as a management control device during the year for all Governmental, Proprietary and Fiduciary Fund Types.
3. Under Article XIII B of the California Constitution (the Gann Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations from the proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess m ust either be refunded to the State Controller, returned to the taxpayers through revised tax rates or revised fees schedules, or an excess in one year may be offset against a deficit in the following year. For the fiscal year ended June 30, 2023, based on the City’s calculations, proceeds of taxes did not exceed the appropriations limit.
4. Budgeted appropriations for the various governmental funds become effective each July 1st.
W. Unearned Revenue
Unearned revenue arises when assets are received before revenue recognition criteria have been satisfied.
Grants and entitlements received before eligibility requirements are met are recorded as deferred inflows from unearned revenue. In the governmental f und financial statements, receivables associated with non- exchange transactions that will not be collected within the availability period have been recorded as deferred inflows from unavailable resources.
X. Use of Estimates
The preparation of basic financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Y. Comparative Data
Comparative data for the prior year has been presented in the accompanying financial statements in order to provide an understanding of changes in the government's financial position and operations.
Z. Implementation of New Accounting Pronouncements
GASB Statement No. 96, Subscription-based Information Technology Arrangements
During the year, the City implemented GASB Statement No. 96, Subscription-based Information Technology Arrangements. GASB Statement No. 96 is an accounting pronouncement issued by the Governmental Accounting Standards Board (GASB) that provides guidance on how the costs and investments for subscription-based information technology arrangements (SBITAs) are accounted for and disclosed by governmental entities. This Statement (1) defines a SBITA; (2) establishes that a SBITA results in a right-to-use subscription asset—an intangible asset—and a corresponding subscription liability; (3) provides the capitalization criteria for outlays other than subscription payments, including implementation costs of a SBITA; and (4) requires note disclosures regarding a SBITA. To the extent 95 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
relevant, the standards for SBITAs are based on the standards established in Statement No. 87, Leases, as amended. As a result, the City recorded intangible right of use subscription assets of $609,650 and corresponding subscription lease liabilities of $609,650. The details of the related assets and liabilities can be found in Notes 7 and 8.
AA. Upcoming New Accounting Pronouncements
The City is currently analyzing its accounting practices to determine the potential impact on the financial statements of the following recent GASB Statements:
GASB Statement No. 100, Accounting Changes and Error Corrections – an amendment of GASB Statement No. 62, effective fiscal 2024.
This statement enhances accounting and financial reporting requirements for accounting changes and error corrections to provide more understandable, reliable, relevant, consistent, and comparable information for making decisions or assessing accountability. GASB 100 also requires disclosure in notes to financial statements of descriptive information about accounting changes and error corrections, such as their nature.
And, GASB 100 addresses how information that is affected by a change in accounting principle or error correction should be presented in required supplementary information (RSI) and supplementary information (SI).
GASB Statement No. 101, Compensated Absences, effective fiscal 2025.
Updates the recognition and measurement guidance for compensated absences by:
1. Aligning the recognition and measurement guidance under a unified model
2. Amending certain previously required disclosures
3. Amends the existing requirement to disclose the gross increases and decreases in a liability for compensated absences to allow governments to disclose only the net change in the liability
4. Supersedes GASB 16
NOTE 2 - CASH AND INVESTMENTS
As of June 30, 2023, cash and investments were reported in the financial statements as follows:
Total
Governmental Fiduciary Cash and
Activities Activities Investments
Cash and Investments 121,859,514$ 6,065,758$ 127,925,272$ Restricted Cash and Investments 2,260, 219 4,083,896 6,344,115 Total Cash and Investments 124,119,733$ 10,149,654$ 134,269,387$ Fair Value
96 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
A. Cash Deposits
The California Government Code requires California banks and savings and loan associations to secure the City's cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest and places the City ahead of general creditors of the institution.
The market value of pledged securities must equal at least 110 percent of the City's cash deposits. California law also allows institutions to secure City deposits by pledging first trust deed mortgage notes that have a value of 150 percent of the City's t otal cash deposits. The City has waived the collateral requirements for cash deposits which are fully insured to $250,000 by the Federal Deposit Insurance Corporation (FDIC).
The bank balances before reconciling items totaled $15,722,408 at June 30, 2023, and could be different from carrying amounts due to deposits in transit and outstanding checks. The uninsured amount was $15,722,408, which was collateralized by securities held by pledging financial institutions.
B. Local Agency Investment Fund
LAIF is regulated by the California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The City reports its investment in LAIF at the fair value amount provided by LAIF, which is the same as the value of the pool share. As of June 30, 2023, the fair value was $46,027,014.
The balance is available for withdrawal on demand. Included in LAIF’s investment portfolio are collateralized mortgage obligations, mortgage -backed securities, other asset- backed securities, loans to certain state funds, and floating rate securities issued by federal agencies, government -sponsored enterprises, United States Treasury Notes and Bills, and corporations. As of June 30, 2023 , these investments matured in an average of 260 days.
C. Placer County Treasurer’s Investment Portfolio
The Placer County Treasurer’s Investment Portfolio operates under the oversight of The Placer County Treasurer’s Review Panel. Investments are made in accordance to California Government Code Section 27000.5 and limited to those investments specified by California Government Code Sections 53601 and 53635. As of June 30, 2023, the value of City investment in the fund was $8,598,179 . These monies are held in various investments consisting of treasury notes and bills, other government bonds and money market instruments.
97 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
D. Investment Policies
City Investment Policy
Under the provisions of the City's investment policy, and in accordance with California Government Code, the following investments are authorized:
Category Standard
U.S. Treasuries No portfolio limit; 5 years max maturity Federal Agencies No portfolio limit; 20% max callable federal agency securities; 30% max per institution/issuer; 5 years max maturity
Supranational Obligations "AA" rated or better by a NRSRO; 30% portfolio max; 10% max per institution/issuer; 5 years max maturity; USD denominated senior unsecured unsubordinated obligations issued or
unconditionally guaranteed by IBRD, IFC, or IADB; Eligible for purchase and sale within the U.S.
Municipal Securities (CA, Other States) "A" rating category or better by a NRSRO; 30% portfolio max; 5% max per institution; 5 years max maturity
Corporate Medium Term Notes "A" rating category or better by a NRSRO; 30% portfolio max; 5% max per institution/issuer; 5 years max maturity; Issued by corporations organized and operating within the U.S. or by depository institutions licensed by the U.S. or any state and operating within the U.S.
Mortgage-Backed Securities "AA" rating category or better by a NRSRO; 20% portfolio max; 5% max per institution/issuer; 5 years max maturity; Mortgage Pass-Through Securities, Collateralized Mortgage Obligations, or Mortgage-Backed bonds
Negotiable Certificates of Deposit (NCD) The amount invested in NCDs subject to limitations of California Government Code; Any amount above the FDIC insured limit must be issued by institutions which have short-term debt obligations rated “A-1” or better by a NRSRO; or long-term obligations rated “A” or its equivalent or better by a NRSRO; 30% portfolio max; 5% max per institution/ issuer; 5 years max maturity
Time Deposits (Non-negotiable CD/TD) 20% portfolio max; Max per institution/issuer limited to maximum covered under federal insurance; 5 years max maturity; Non-negotiable time deposits FDIC or collateralized in
accordance with California Government Code and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA)
Collateralized Bank Deposits No portfolio limit; deposits with financial institutions will be collateralized with pledged securities per California Government Code, Section 53651
Banker’s Acceptances Short-term debt obligations "A-1" rating category or better by a NRSRO or long-term debt obligations "A" rating category or better by a NRSRO; 40% portfolio max; 5% max per
institution/issuer; 180 days max maturity; Issued by prime money center banks
98 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
E. Risk Disclosures
Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment.
Generally, the longer the term of an investment’s maturity, the greater the sensitivity to changes in market interest rates. It is the City’s practice to manage its exposure to interest rate risk by purchasing a combination of shorter and longer-term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for City’s operations. The City’s policy is to limit the weighted average maturity of its investment portfolio to less than five years. As of June 30, 2023, none of the City investments exceeded five years and 62% of the City’s total cash and investments were liquid or matured within one year.
Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of an Category Standard
Commercial Paper Issued by domestic corporation with assets >$500 million and having an "A-1" long-term rating or better by a NRSRO or if the issuer has other debt obligations, having an "A" long-term rating or better by a NRSRO; or Issuer organized in the U.S. as a special purpose corporation, trust, or limitied liability company with program-wide credit enhancements and an "A-1" rating or better by a NRSRO; 25% portfolio max; 5% max per
institution/issuer; 10% max of the outstanding paper of the issuin
g corporation; 270 days maturity
Money Market Mutual Funds 20% portfolio max; 20% max per shares of any one Money Market Mutual Fund; Shares of beneficial interest issued by Mutual Funds and Money Market Funds; Companies shall either:
(i) Attain highest rating by two NRSROs; or (ii) Have an investment adviser registered with SEC with > 5 years
experience investing in securities as authorized by by California Government Code, Section 53601, inclusive and with AUM
>$500 million; The purchase price of shares of Mutual Funds or Money Market Funds shall not include any commission that the com
panies may charge
Mutual Funds 20% portfolio max; 10% max per shares of any one mutual fund; Shares of beneficial interest issued by Mutual Funds and Money Market Funds; Companies shall either: (i) Attain highest rating by two NRSROs; or (ii) Have an investment adviser registered with SEC with > 5 years experience investing in securities as authorized by California Government Code, Section 53601 and with AUM >$500 million; Mutual Fund is SEC registered and met requirements of Rule 2a-7 of the Investment Company Act of 1940; The purchase price of shares of Mutual Funds or Money Market Funds shall not include any commission that the
com
panies may charge
Local Agency Investment Fund (LAIF) Maximum amount permitted by State law and LAIF Local Government Investment Pools 25% portfolio max in the County Treasurer's Investment Pool Repurchase Agreements No portfolio limit; 1 year max maturity; 102% collateralized 99 City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
investment. This is measured by the assignment of a rating by a nationally recognized sta tistical rating organization. As of June 30, 2023, the City’s investments were in compliance with the ratings required by t he City’s investment policy, indenture agreements and Government Code.
Co
ncentrations of Credit Risk
As of June 30, 2023, the City had no investments in any one issuer exceeding that allowed by City policy, which is more conservative than stipulated by the California Government Code.
Cu
stodial Credit Risk
For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The California Government Code and the City's investment policy contains legal or policy requirements that would limit the exposure to custodial credit risk for investments. For the investments maintained by the City, no security was uninsured , or unregistered, or held by a brokerage firm which is also the counterparty for the security. With respect to investments, custodial credit risk generally applies only to direct investments in marketable securities. Custodial credit risk does not apply to a local government's indirect investment in securities through the use of mutual funds or government investment pools (such as LAIF).
As o
f June 30, 2023, the City’s investments had the following maturities and ratings:
F. F
air Value Measurements
GAS
B 72 established a hierarchy of inputs to valuation techniques. This hierarchy has three levels:
• Level 1 inputs are quoted prices in active markets for identical assets or liabilities. • Level 2 inputs are quoted market prices for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other than quoted prices that are not observable. • Level 3 inputs are unobservable inputs, such as a property valuation or an appraisal.
Fair AAAm/ Not G7 2
Cash or Investment Type Value <1 Year >1 Year Exempt Aaa-mf Rated Input Local Agency Investment Fund (LAIF) 46,027,014$ 46,027,014$ -$ 46,027,014$ -$ -$
Level 1/2
Money Market/Mutual Funds 7,858,524 7,858,524 - - 7,858,524 - L
evel 2
Special Assessment Bonds 6,732,646 - 6,732,646 - - 6,732,646 Level 1/2
County Treasurer's Investment Portfolio 8,598,179 8,598,179 - 8,598,179 -
- Level 2
Cor
porate Notes 21,838 - 21,838 - -
21,838 Level 1
Cash on Hand 3,328 3,328 - 3,328 -
- n/a
Chandler Investments:
Agency 3,940,604 1,336,025 2,604,579 - 3,940,604 - L
evel 1
CMO 2,373,232 - 2,373,232 -
2,373,232 - L
evel 1
Corporate 13,246,265 -
13,246,265 -
13,246,265 - L
evel 1
Money Market Fund 151,698 151,698 - - 151,698 - L
evel 1
Certificates of Deposit 999,063 999,063 - - 999,063 - L
evel 1
US Treasury 29,330,835 3,462,879 25,867,956 - 29,330,835 - L
evel 1
Cash Deposits 14,986,161 14,986,161 -
14,986,161 -
- n/a
Total Cash and Investments 134,269,387$ 83,422,871$ 50,846,516$ 69,614,682$ 57,900,221$ 6,754,484 $ Investment Maturities Year End Rating
100
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
NOTE 3 - ACCOUNTS RECEIVABLE
Accounts receivable consisted of the following as of June 30, 2023:
NOTE 4 - LEASES RECEIVABLES
As of June 30, 2023, the City’s leases receivable were $4,039,063 and deferred inflows of resources were $4,011,697. The net present value of the leases receivable was valued using an interest rate of 2.95% with annual payments of $325,000 over sixteen years. The future payments were as follows:
NOTE 5 - INTERFUND TRANSACTIONS
A. Interfund Receivables and Payables
Due To/From Other Funds
The timing of when cash is received and paid can result in a negative cash balance in a fund as of fiscal year end. At year-end, a liability, “Due To Other Funds” is created to eliminate any negative cash balances along with a corresponding asset, “Due From Other Funds”. In the following fiscal year, the liabilities are settled and the assets are liquidated.
General SB325 Streets SR Nonmajor
Receivables Fund Sales Tax Grants Fund Funds Total
Federal Government 28,210$ -$ -$ 489,060$ 517,270$ State Government 1,804,788 - 3,823,727 1,032,271 6,660,786 Local Taxes 3,399,742 - - 278,668 3,678,410 Local Other 1,085,697 1,532 693,802 - 1,781,031 Totals 6,318,437$ 1,532$ 4,517,529$ 1,799,999$ 12,637,497$ Year Ending
June 30 Principal Interest Total
2024 208,654$ 116,346$ 325,000$
2025 214,893 110,107 325,000
2026 221,319 103,681 325,000
2027 227,937 97,063 325,000
2028 234,752 90,248 325,000
2029-2033 1,283,350 10,155 1,293,505 2034-2038 1,487,048 10,180 1,497,228 2039-2043 161,111 2,039 163,150 Total 4,039,063$ 539,819$ 4,578,882$
101
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
As of June 30, 2023, interfund receivables and payables consisted of the following:
B. Transfers In/Out
Interfund transfers result from the movement of resources from one fund to another within the governmental unit. At June 30, 2023, interfund transfers consisted of the following:
Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them, and (2) move receipts restricted to debt service from the funds collecting the receipts to the debt service fund as debt service payments become due.
Due from Due to
Fund Other Funds Other Funds
General Fund 4,972,104$ -$
Streets Grants Fund - 4,266,366
Nonmajor Funds - 705,737
Total 4,972,104$ 4,972,103$
Fund Fund Type Transfers in Transfers out
Major Funds:
General Fund General 12,651,314 2,007,442
Sales Tax SB 325 Special Revenue - 504,633 Low Mod Income Housing Asset Capital Projects - 153,500 Traffic Circulation Impact Fee Capital Projects - 38,563 Arpa Funds Special Revenue - 6,838,730 Nonmajor Funds:
Capital Construction Debt Service Debt Service 531,839 - Gas Taxes Special Revenue - 238,992
SB1 Road Maintenance and Rehab Act Special Revenue - 89,600 Community Facilities District No. 1 Special Revenue - 2,246,147 Community Facilities District No. 5 Special Revenue 8,472 757,409 Community Facilities District No. 6 Special Revenue - 44,777 Landscaping and Lighting Maintenance District No. 2 Special Revenue - 335,713 Park Development & Maintenance Tax Fund Special Revenue - 646,633 Traffic Safety/PD Grants Special Revenue 11,442 1,069
CDBG HUD Entitlement Special Revenue - 55,990 Grants and Other Reimbursables Special Revenue - 9,926 Supplemental Law Enforcement Grant Special Revenue - 181,147 Park Development Fees Capital Projects - 6,464 Community Park Fees Capital Projects - 6,838 Capital Construction Tax Capital Projects - 531,840 Oak Tree Mitigation Capital Projects - 23,449 Whitney Ranch Trunk Sewer Project Capital Projects 1,098,000 398,564 Public Facilities Impact Fees Capital Projects - 17,157 Wetlands Maintenance Permanent - 2,512 Conservation Easement Endowment Fund Permanent - 8,472 Total Governmental Funds 14,301,067 15,145,567
Internal Service Funds:
Fleet Management Internal Service 898,000 53,500
Total Transfers 15,199,067$ 15,199,067$
102
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
NOTE 6 - LOANS RECEIVABLE
Through the City’s various programs , the City has loaned funds to qualifying individuals and businesses.
Interest rates vary depending on the terms of the loan. Interest is accrued on the loans that bear interest.
Loans receivable consisted of the following as of June 30, 2023:
The following is a summary of the loans and notes receivable outstanding as of June 30, 2023:
Highway 65 Sunset Interchange Loan
As members of the “Bizz Johnson Joint Powers Authority” (JPA), Placer County, the City of Roseville, and the City of Rocklin made loans to the JPA for the construction of the Sunset Blvd. Highway 65 interchange.
The original loan amount from the City of Rocklin was $2,033,684. The loan does not bear interest. The timing of the JPA repayments is at the discretion of the JPA Board. At June 30, 2023, a balance of $759,775 was outstanding.
William Jessup University Ave.
On February 25, 2017 , the City entered into a reim bursement agreement with WJU to release WJU from obligations for street improvements on University Ave that were completed by the City. In lieu of WJU’s construction and street improvements, WJU shall reimburse the City $3,015,066. Reimbursement payments shall be made over 6 years (2019 to 2024) and bear interest at 2.15% per annum with the final payment due July 1, 2024. The balance outstanding as of June 30, 2023 was $1,005,022.
Community Development Block Grant (CDBG) Revolving Loans The City participates in a CDBG Revolving loan program. The program is federally funded and provides housing rehabilitation loans to eligible applicants. The City makes loans to resident homeowners who qualify as low income, some of which are deferred and are not repaid until the title to the property changes.
The balance of these loans at June 30, 2023 was $310,714.
Beginning Ending
Loans Receivable July 01, 2022 Additions Deletions June 30, 2023 Highway 65 Sunset Blvd. Interchange 915,183$ -$ 155, 408$ 759,775$ William Jessup University Ave. 1,507,534 - 502,512 1,005,022 Community Development Block Grant 310,714 - - 310,714 First Time Home Buyers 758,094 - 63,757 694,337 Down Payment Assistance 1,010,667 8,600 77,610 941,657 Villa Serena II 486,102 - - 486,102 College Manor 650,000 - - 650,000 Sunset Blvd 575,000 - - 575,000 Whitney Rocklin, LP 1,730,000 - 1,730,000 - HPD Shannon Bay 436,049 - 10,265 425,784 Whitney Rocklin, LP 2,100,000 - 2,100,000 - Placer West Housing Partners 311,470 - - 311,470 Placer County Flood Control District 54,901 - 21,288 33,613 Total Loans Receivable 10,845,714$ 8,600$ 4,660,840$ 6,193,474$ 103
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
First Time Home Buyers
The City has made various loans to qualifying participants within the City as part of the Federal First Time Home Buyers Program (HOME). Interest rates vary depending on the terms of the loan and interest is deferred until the loan is refinanced or title to th e property changes and may be waived under certain conditions if the loan is carried to full term. The HOME notes receivable balance at June 30, 2023 was $694,337.
Do
wn Payment Assistance Loans
The former Rocklin Redevelopment Agency began a down payment assistance program in 2007 to help low and moderate income individuals with purchases of a home. Qualifying individuals receive down payment assistance with the loan deferred as long as it is an owner-occupied dwelling. Interest and/or principal may be waived if certain terms are met by the borrower. The Down Payment Assistance loans receivable at June 30, 2023 was $941,657.
Vi
lla Serena II Loan
On July 24, 2001, the former Rocklin Redevelopment Agency entered into an agreement with Stanford Arms, a California Limited Partnership, for a loan in the amount of $1,100,000. The loan has been used to assist with the construction of the Villa Serena affordable senior project known as Stanford Arms. The loan is at 3% simple interest and is to be repaid from residual receipts over a thirty-year period. The final payment date is dependent on residual receipts. The loan is secured by a deed of trust covering the property, improvements, and fixtures and by all deposits of the borrower. At June 30, 2023 , a balance of $ 486,102 was outstanding.
C
ollege Manor
On November 1, 2007, the former Rocklin Redevelopment Agency entered into an agreement with CAHA College Manor LP, a California Limited Partnership, for a loan in the amount of $650,000. The loan has been used to finance the acquisition and renovation of low -income apartments located at 4201 Racetrack Road. The loan is at 3% simple interest and is to be repaid from residual receipts over a fifty -five-year period. The final payment date is dependent on residual receipts. At June 30, 2023, a balance of $ 650,000 was outstanding.
Suns
et Blvd
On June 24, 2008, the former Rocklin Redevelopment Agency authorized a loan in the amount of $575,000 to Sunset Street Housing Partners for an existing apartment complex located at 3655 Sunset Blvd. The loan provides for 3% simple interest for 30 years with payments to begin after the second anniversary of the loan document execution date and the final payment due December 22, 2038. Associated with this project, the former Rocklin Redevelopment Agency also approved Conduit Debt issuance in the maximum amount of $10,000,000 in multifamily revenue bonds by the California Statewide Communities Development Authority. At June 30, 2023, a balance of $575,000 was outstanding.
W
hitney Rocklin, LP
On June 24, 2008, the former Rocklin Redevelopment Agency authorized a loan in the amount of $1,595,000, which was later amended to $1,730,000 on December 9, 2008, to Whitney Rocklin LP to assist with construction of a 156-unit multifamily housing project referred to as the Whitney Ranch Apartments.
The loan provides for 3% simple interest for 30 years with the final payment due March 30, 2039.
Associated with this project, the former Rocklin Redevelopment Agency also approved Conduit Debt issuance in the maximum amount of $18,000,000 in multifamily revenue bonds by the California Statewide Communities Development Authority. The loan was fully repaid during the year. 104
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
HPD Shannon Bay, LP
On September 9, 2008, the former Rocklin Redevelopment Agency authorized a housing rehabilitation loan in the amount of $500,000 with HPD Shannon Bay LP for a 50 -unit multi-family housing project referred to as the Shannon Bay Apartments. The loan provides for 3% simple interest for 30 years with a five-year period of interest only payments. The loan then converts to an amortizing loan during which time an annual payment of $25,296 will be paid and at the end of the loan term a balloon payment for the remaining balance becomes due and payable. The final payment is due January 11, 2040. Associated with this project, the former Rocklin Redevelopment Agency also approved Conduit Debt issuance in the maximum amount of $6,000,000 in multifamily revenue bonds by the California Statewide Communities Development Authority. At June 30, 2023, a balance of $425,784 was outstanding.
W
hitney Rocklin, LP
On December 9, 2008, the former Rocklin Redevelopment Agency authorized a loan in the amount of $2,100,000 to subsidize 70 low-income rental units into very low-income units referred to as the Whitney Ranch Apartments. The loan provides for 3% simple interest for 30 years with the final payment due March 30, 2039. The loan was full repaid during the year.
P
lacer West Housing Partners, LP
On December 8, 2009, the former Rocklin Redevelopment Agency authorized a housing rehabilitation loan in the amount of $500,000 with Placer West Housing Partners LP for a 44- unit affordable housing project located at 6055 Placer West Drive in Rocklin. The loan provides for 3% simple interest for 30 years with partial interest only payments in the amount of $2,000 to begin on the second anniversary of the loan document execution date of December 22, 2009. The final payment is due December 21, 2040. A balloon payment of the remaining unpaid balance of principal and interest shall be due at the conclusion of the loan term. At June 30, 2023 a balance of $311,470 was outstanding.
P
lacer County Flood Control District
During the fiscal year ended June 30, 2018, the City authorized a $182,063 loan with the Placer County Flood Control District (the District) to help fund the Antelope Creek Flood Control Project, Upper Weir.
The District intended to fund the project through a combination of the Dry Creek Trust Fund and two Department of Water Resources Grants. The District will make future reimbursement payments to each participant totaling the amount of each participant’s ori ginal advance payment plus simple interest as determined by the Construction Cost Index (CCI). The City has a 13.42% share of the total project costs.
Reimbursement of advanced payment shall be made twice yearly when the Trust Fund has a balance of at least $25,000 over the minimum balance of $50,000. The City estimates full repayment by June 30, 2023.
At June 30, 2023, a balance of $33,613 was outstanding. 105
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
NOTE 7 - CAPITAL ASSETS
Capital assets consisted of the following as of June 30, 2023:
Balance Transfers/ Balance
Governmental activities: July 01, 2022 Additions/ Retirements Adjustments June 30, 2023 Nondepreciable Capital Assets:
Land 8,338,942$ -$ - $ - $ 8,338,942$ Land Improvements 108,402 - - - 108,402 Park Land 61,097,079 - - - 61,097,079 Construction In Progress 5,011,810 25,752,244 - (18,647,942) 12,116,112 Total Nondepreciable Capital Assets 74,556,233 25,752,244 - (18,647,942) 81,660,535 Depreciable/amortizable capital assets:
Subscription right of use assets - 609,650 - - 609,650 Buildings 35,262,889 - - - 35,262,889 Facilities & Other Improvements 7,417,667 - - - 7,417,667 Machinery & Equipment 3,279,140 159,610 - - 3,438,750 Fleet Machinery & Equipment 15,233,998 434,782 (67,577) - 15,601,203 Park Buildings 2,717,879 - - - 2,717,879 Park Equipment 1,629,694 - - - 1,629,694 Park Improvements 27,769,219 - - - 27,769,219 Infrastructure 419,617,357 (1,165,988) 18,647,942 437,099,311 Total Depreciable/Amortizable 512,927,843 1,204,042 (1,233,565) 18,647,942 531,546,262 Total Capital Assets 587,484,076 26,956,286 (1,233,565) - 613,206,797 Accumulated Depreciation/Amortization:
Subscription right of use assets - 6,519 - - 6,519 Buildings 22,406,223 956,909 - - 23,363,132 Facilities & Other Improvements 4,165,037 311,332 - - 4,476,369 Machinery & Equipment 2,912,858 137,820 - - 3,050,678 Fleet Machinery & Equipment 8,601,454 1,003,751 (67,577) - 9,537,628 Park Buildings 825,640 90,596 - - 916,236 Park Equipment 1,597,585 7,724 - - 1,605,309 Park Improvements 18,875,800 568,611 - - 19,444,411 Infrastructure 202,088,521 9,036,925 (1,165,988) - 209,959,458 Total Accumulated Depreciation/Amort. 261,473,118 12,120,187 (1,233,565) - 272,359,740 Total Capital Assets - Net 326,010,958$ 14,836,099$ - $ - $ 340,847,057$
Depreciation expense was charged to the following functions in the statement of activities:
General Government 12,383$
Pu
blic Safety 879,394
Parks and Recreation 124,797
Public Services 11,103,613
Total Depreciation/Amortization Expense 12,120,187$
106
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
NOTE 8 - NONCURRENT LIABILITIES
The City's noncurrent liabilities consisted of the following as of June 30, 2023:
The annual debt service requirements on general long-term debt is as follows:
2016 Rocklin Public Finance Authority Lease Revenue Bonds On October 4th, 2016, the Rocklin Public Financing Authority issued lease revenue bonds in the amount of $9,455,000, at a premium of $688,769, to defease the outstanding 2003 certificates of participation and finance the acquisition and construction of various capital improvement projects. The security for the bonds was the pledge of lease payment revenues received by the Authority under a lease agreement with the City.
These bonds were reported as City debt as required by GASB 62 and NCGA Statement 5. The term of the bonds was 25 years. Interest rates on the bonds range from 2% to 5%. Principal payments ranging from $245,000 to $525,000 are payable annually on November 1 st and interest payments ranging from $7,875 to
$164,363 are payable semi -annually on May 1 st and November 1 st, through November 1, 2041. The aggregate debt service savings was $15,000 from this refunding. At June 30, 2023, the City had a Lease Revenue Bond and Unamortized Premium liabilities of $7,875,913.
Due
Beginning Ending Within One
Description Balance Additions Deletions Balance Year
Lease Revenue Bonds:
2016 Lease Revenue Bonds 7,665,000$ -$ 285,000$ 7,380,000$ 300,000$ Unamortized Premiums 523,464 - 27,551 495,913 - Subtotal Lease Revenue Bonds 8,188,464 - 312,551 7,875,913 300,000 Direct Borrowings:
Pacific Premier Bank Loan - RPFA Refunding 2,013,154 - 486,348 1,526,806 497,623 Sunset Whitney Recreation Area Note 1,031,943 - 515,009 516,934 516,934 Subtotal - Direct Borrowings 3,045,097 - 1,001,357 2,043,740 1,014,557 Subscription Liabilities - 609,650 8,403 601,247 2,686 Claims Payable 2,832,930 264,968 625,271 2,472,627 145,345 Net Pension Liability 28,826,839 48,217,335 13,208,573 63,835,601 - Net OPEB Liability 234,349 11,409,795 7,026,298 4,617,846 - Compensated Absences 3,710,102 3,842,281 3,710,103 3,842,280 1,779,223 Total Noncurrent Liabilities 46,837,781$ 64,344,029$ 25,892,556$ 85,289,254$ 3,241,811$
Year Ending
June 30, Principal In terest Total Principal Interest Total 2024 300,000$ 229,850$ 529,850$ 1,014,557$ 38,426$ 1,052,983$ 2025 315,000 214,475 529,475 508,181 17,052 525,233 2026 330,000 198,350 528,350 521,002 5,731 526,733 2027 345,000 183,200 528,200 - - - 2028 360,000 169,100 529,100 - - - 2029-2033 1,955,000 701,400 2,656,400 - - - 2034-2038 2,255,000 401,326 2,656,326 - - - 2039-2043 1,520,000 69,449 1,589,449 - - - Total 7,380,000$ 2,167,150$ 9,547,150$ 2,043,740$ 61,209$ 2,104,949$ Lease Revenue Bonds Direct Borrowings
107
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Rocklin Public Finance Authority Pacific Premier Bank Loan On July 1, 2017, the City, on behalf of Community Facilities Districts (CFD) 6, 8 and 9, agreed to borrow from the Rocklin Public Financing Authority (Authority) an amount necessary to refund 1999 CFD special tax bonds and pledged the special tax revenues levied in each CFD to the Authority. In the 2017 Special Tax Revenue Refunding Loan Agreement, the Authority agreed to borrow from Pacific Premier Bank, the funds necessary to refund the 1999 CFD special tax bonds and in turn, refund the 2003 Authority bonds.
The loan is secured by a pledge of the revenues received by the Authority from the 2017 CFD loan payments.
Pacific Premier Bank has no remedy against the City if special taxpayers in the CFD's fail to make their payments. The loan was for $5,000,077 at a fixed interest rate of 2.2% and matures on September 1, 2025.
This loan was reported as City debt as required by GASB 62 and NCGA Statement 5. The refunding resulted in an economic gain of $1,989,923. The aggregate debt service of the Pacific Premier loan was $233,844 less than the debt service requirements, of the refunded debt, including cash prepayments during the refunding. At June 30, 2023, the City had an Pacific Premier Bank Loan liability of $1,526,806.
City of Rocklin Sunset Whitney Note
On December 18, 2017, the City entered into a note payable with Sunset Whitney, LLC to pay $3,000,000 as a part of a $5,800,000 purchase of golf course land. Principal and interest payments shall be made on the first of December each year and interest accrues at 2% of the outstanding principal balance per annum for six years beginning December 31, 2018. At June 30, 2023, the City had a Sunset Whitney Recreation Area Note liability of $516,934.
Subscription Based Information Technology Agreements
On July 1, 2021, the City entered into a 1,122 month subscription for the use of PDS Software. An initial subscription liability and right of use asset of $609,650 was recorded as of June 30, 2023, to implement GASB 96. As of June 30, 2023, the value of the subscription liability was $601,247 and the right of use asset was $603,131, net of accumulated amortization totaling $6,519. The City is required to make annual fixed payments of $17,895. The subscription has an interest rate of 1.7047%. See Note 7 for more information regarding the changes in the subscription right of use assets. The following table summarizes the future payments for the subscription liability.
Claims Payable
The City has recorded a liability for potential claims in excess of amounts covered by the insurance pool.
At June 30, 2023, the City had a claims payable liability of $2,472,627. See Note 9 for further discussion on the City’s risk management activities.
Year Ending
June 30, Principal Interest Total
2024 2,686$ 10,249$ 12,935$
2025 2,732 10,203 12,935
2026 2,778 10,157 12,935
2027 2,825 10,110 12,935
2028 2,874 10,061 12,935
Thereafter 587,352 580,504 1,167,856 Total 601,247$ 631,284$ 1,232,531$
108
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Net Pension Liability
As a result of the implementation of GASB 68, the City has recorded a net pension liability for its CalPERS Miscellaneous, Fire and Police pension plans. At June 30, 2023, the City had a net pension liability of $63,835,601. See Note 11 for further discussion on the pension liability.
Net
OPEB Liability
A net OPEB liability is the cumulative difference between annual OPEB cost and an employer’s contributions to a plan. At June 30, 2023, the City had a net OPEB obligation of $ 4,617,846. See Note 12 for further discussion on OPEB.
Co
mpensated Absences
The City records compensated absences for all employee absences that are expected to be paid such as vacation and illness. Compensated absences had a balance of $3,842,280 at June 30, 2023; of that amount, $1,779,223 is expected to be paid within a year.
Arb
itrage
The Tax Reform Act of 1986 instituted certain arbitrage restrictions with respect to the issuance of tax - exempt bonds after August 31, 1986. Arbitrage regulations deal with the investment of all tax-exempt bond proceeds at an interest yield greater than the interest yield to bondholders. Generally, all interest paid to bondholders can be retroactively rendered taxable if applicable rebates are not reported and paid to the Internal Revenue Service (IRS) at least every five years. The City performed calculations of excess investment earnings on various bonds and financings and at June 30, 2023 , there were no arbitrage liabilities.
N
OTE 9 - NET POSITION/FUND BALANCE
Net
Position
Net position consisted of the following as of June 30, 2023:
R
estricted Unrestricted Total
Capital Assets - Net 340,847,057$ -$ -$ 340,847, 057$ Associated Long-term Debt (10,520,900) - - (10,520,900) Deferred Gain on Refunding (884,410) - - (884,410) Unspent Proceeds from Debt - - - -
Fund Balance Restrictions - 35,521,436 - 35,521,436
Nonexpendable endowments - 491,455 - 491,455
Capital Projects Fund Assets from Debt - - - -
Total Net Position - - 420,338,416 420,338,416
Net Investment in Capital Assets - - (329,441,747) (329,441,747) Restricted Net Position - - (36,012,891) (36,012,891) Total 329,441,747$ 36,012,891$ 54,883,778$ 420,338,416$ Net Investment
in Capital Assets
109
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Fund Balance
Fund balances consisted of the following at June 30, 2023:
Nonspendable fund balances included the following as of June 30, 2023:
1. Endowments include principal corpus from which income will fund maintenance of Wetlands and Preserve Ar
ea maintenance and operations.
2. Long-term l
oans/notes receivable includes noncurrent portions of loans and notes receivables.
Nonspendable Restricte d Committed Unassigned Total
Endowments 453,455 $ - $ -$ -$
453,455$
Wetlands Maintenance 38,000 17,024 -
- 55,024
Debt Service -
1,602,383 -
- 1,602,383
Low and Moderate Income Housing -
13,140,919 -
- 13,140,919
SB325 Sales Tax -
6,668,582 -
- 6,668,582
SB1 Road Maintenance & Rehab Act -
865,585 -
- 865,585
Gas Tax -
688,814 -
- 688,814
Lighting Districts -
1,558,949 -
- 1,558,949
Community Facilities Districts -
5,108,432 -
- 5,108,432
Housing Rehabilitation -
843,607 -
- 843,607
Asset Forfeiture -
425,367 -
- 425,367
CASp Certification and Training -
83,250 -
- 83,250
Recreation Facilities Contributions -
2,185 -
- 2,185
Costco Settlement -
3,755,224 -
- 3,755,224
OPIOID Settlement -
1,339 -
- 1,339
Traffic Circulation Impact Fees -
759,776 16,659,483 - 17,419,259
C
apital Construction Tax -
- 6,075,703 - 6,075,703
Oak Tree Mitigation Fees -
- 129,312 - 129,312
North West Area Comm Park Fees -
- 964,797 - 964,797
Public Facilities Impact Fees -
- 1,021,684 - 1,021,684
W
hitney Ranch Interchange Fee -
- 1,518,449 - 1,518,449
Trails Impact Fees -
- 854 - 854
Community Center Impact Fees -
- 3,703 - 3,703
P
ark Development Capital Projects -
- 844,167 - 844,167
General Fund:
Unassigned - - - 18,877,784 18,877,784
Building Repair Reserve - - 1,337,026 - 1,337,026 Operating Reserve - - 15,726,400 - 15,726,400
P
ark Infrastructure Reserve - - 424,100 - 424,100 Surplus Reserve - - 9,435,546 - 9,435,546
Reserve for Encumbrances - - 1,362,524 - 1,362,524 ARPA - - 3,764,638 - 3,764,638
Quarry Park Adventures - - 240,000 - 240,000
Economic Development - - 787,122 - 787,122
Technology Fee - - 1,055,768 - 1,055,768
Retiree's Health - - 1,065,418 - 1,065,418
QP Amphitheater Events - - - 82,851 82,851 Long-term Receivables 33,613 - - - 33,613 Leases receivable 27,366 - - - 27,366 Traffic Safety/PD Grants - - - (111,525) (111,525) Streets Grants - - - (892,118) (892,118) Grants and Other Reimbursables - - - (470,345) (470,345) Community Parks Fund - - - (130,645) (130,645) Total 552,434$ 35,521,436$ 62,416,694$ 17,356,002$ 115,846,566$ 110
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Restricted fund balances included the following as of June 30, 2023:
1. Debt Service includes amoun ts used for debt service in the Rocklin Public Financing Authority debt service fund.
2. Low and Moderate Income Housing Fund includes amounts used to increase the City’s supply of low and moderate income housing.
3. SB325 Sales Tax includes amounts to be used fo r repair and maintenance of City streets in accordance with Senate Bill 325.
4. SB1 Road Maintenance & Rehab Act includes amounts to be used for City ro ad maintenance projects in accordance with Senate Bill 1, Chapter 5, Statutes of 2017.
5. Wetlands Maintenance includes amounts other than the non-spendable endowment to be used on the maintenance of the wetlands on a parcel in Stanford Ranch Phase III.
6. Gas Tax includes amounts receiv ed and expended for construction and street maintenance purposes as defined in Sections 2 105, 2106, 2107, and 21 07.5 of the California Streets and Highways Code.
7. Lighting Districts includes amounts to be used to maintain and operate the City’s lighting districts.
8. Community Facilities Districts include amounts to be used to maintain and operate the City’s community facilities districts.
9. Housing Reha bilitation includes amounts to be used for th e City’s housing rehab ilitation programs.
10. Asset Forfeiture includes amounts that are restricted to police activities.
11. CASp Certification and Training includes amounts to be used for Certified Access Specialist program training in accordance with Assembly Bill 1379.
12. Recreation Facilities Con tributions in clude amounts set aside for recreation facilities construction and improvements.
13. OPIOID Settlement includes funds received according to the Opioid Settlement Agreement and any amendments between Californ ia Cities and Co unties with Pharmaceutical companies and Distributors dated July 21, 2021. All settlement fun ds will be used for opioid remediation, and a minimum of 70% of th e settlement fu nds received are requ ired to be u sed for future opioid remediation.
14. Costco Settlement includes funds received and to be used according to the Settlement Agreement between Costco, the Town of Loomis, and the City of Rocklin, dated October 2022.
15. Traffic Circulation Impact Fees include long-te rm receivables related to street improvements needed to reduce the impact caused by new development within the City. 111
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Committed fund balances included the following as of June 30, 2023:
1. General Fund:
a. Building Repair Reserves include amounts set aside for routine building maintenance and t
o support the expansion of existing City facilities to address workforce needs of city services.
b. O
perating Reserve includes amounts set aside for operating expense contingencies. c. P
ark Infrastructure Reserve includes amounts set aside for routine park facilities maintenance and future park infrastructure projects.
d. S
urplus Reserve includes surplus amounts set aside for operating expense contingencies. e. Rese
rve for Encumbrances includes amounts set aside for encumbrances, or open purchase orders, rolled forward to the following year.
f. ARP
A committed fund balance includes amounts set aside f rom the ARPA revenue loss replacement grant.
g. Q
uarry Park Adventures includes amounts set aside for Adventure Park operations. h. E
conomic Development includes amounts set aside to promote economic development within the City.
i. T
echnology Fee includes a 6% fee assessed on certain program revenues to fund the cost of technology systems.
j. Ret
iree’s Health represent amounts set aside to fund future retiree health insurance premiums.
2. T
raffic Circulation Impact Fees include amounts to be used for street improvements to reduce the impacts caused by new development within the City.
3. C
apital Construction Tax includes amounts set aside for city construction projects.
4. O
ak Tree Mitigation includes amounts set aside for oak tree preservation.
5. N
orth West Rocklin Community Park Fee includes Impact Fees to be used for community parks in the North West Rocklin (Whitney Ranch) area.
6. Public
Facilities Impact Fees include amounts to be used to fund expansion of public facilities to serve new development within the City.
7. W
hitney Ranch Interchange Fee includes Impact Fees to be used to develop Highway 65 interchanges in the Whitney Ranch area.
8. T
rails Impact Fees include amounts to be used for trail improvements to reduce the impact caused by new development within the City.
9. Community Center Impact Fees include amounts to be used for community center improvements and reduce the impact caused by new development within the City.
10. P
ark Development Capital Projects include amounts used for community park and city-wide recreational facilities improvements to reduce the impacts of increased use by new development within the City.
112
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
The following funds had deficit fund balances as of June 30, 2023:
1. The Traffic Safety/PD Grants fund had a deficit fund balance of $111,525 as of June 30, 2023, that is to be funded through deferred and unearned grants.
2. The Streets Grants fund had a deficit fund balance of $892,118 as of June 30, 2023 that is to be funded through deferred and unearned grants.
3. The Grants and Other Reimbursables fund had a deficit fund balance of $470,345 as of June 30, 2023 that is to be funded through deferred and unearned grants.
4. The Community Park Fees Capital Projects fund had a deficit fund balance of $ 130,645 as of June 30, 2023 that is to be funded through future community park fees.
NOTE 10 - RISK MANAGEMENT
The City’s insurance coverage and the respective coverage providers are as follows:
The City is a member of the Northern California Cities Self Insurance Fund (NCCSIF) along with twenty- one other northern California cities. The NCCSIF is a joint powers authority (JPA) organized in accordance with Title 1, Division 7, Chapter 5, Article 1 of the California Government Code. The purpose is to create a common pool of funds to be used to meet obligations of the parties to provide workers’ compensation benefits for their employees and to provide excess liability insurance. The NCCSIF provides cl aims processing administrative services, risk management services, and actuarial studies.
A member from each city governs the NCCSIF. City Council members do not have significant oversight responsibility, since they evenly share all factors of responsibility with the other cities. The City does not retain the risk of loss. However, ultimate lia bility for payment of claims and insurance premiums resides with member cities. The NCCSIF is empowered to make supplemental assessments as needed to eliminate deficit positions of member cities. If the JPA becomes insolvent, the City is responsible only t o the extent of any deficiency in its equity balance.
The NCCSIF establishes claims liabilities based on estimates of the ultimate cost of claims (including future claims settlement expenses) that have been reported but not settled, plus estimates of claims that have been incurred but not reported. Because ac tual claims costs depend on various factors, the claims liabilities are recomputed periodically using a variety of actuarial and statistical techniques to produce current estimated claims that reflect recent settlements, claim frequency, and other economic and social factors. A provision of inflation is implicit in the calculation of estimated future claims costs. Adjustments to claims liabilities are charged or credited to expense in the periods in which they are made.
Amount Coverage Provider Payment Source
Liability Claim:
$0 - $50,000 Self-insured Banking layer
$50,001 - $500,000 NCCSIF Shared risk
$500,001 - $40,000,000 Excess coverage CJPRMA
Workers' Compensation:
$0 - $100,000 Self-insured Banking layer
$100,001 - $500,000 NCCSIF Shared risk
$500,001 - Statutory Excess coverage CSAC EIA
113
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
The City participates in excess insurance coverage provided by California joint powers authorities (JPAs), the California Joint Powers Risk Management Authority (CJPRMA) and the California State Association of Counties Excess Insurance Authority (CSAC EIA). These JPAs self -fund to $5,000,000 and then purchase reinsurance over that amount to their various limits. The City is self -insured for employee dental and vision claims. There have been no significant reductions in insurance coverage from coverage in the prior fiscal year. Settlements have not exceeded the insurance coverage for the past three fiscal years.
The City’s equity investment in the NCCSIF of $ 3,706,247 is recorded in the Risk Management Internal Service Fund. The audited financial statements of the JPA are available at the NCCSIF’s office. The following is a summary of the claims liabilities for the last three fiscal years:
NOTE 11 - RETIREMENT PLANS
A. General Information about the Pension Plans
Plan Description
All qualified employees are eligible to participate in the City ’s Miscellaneous agent multiple employer - defined benefit pension plan or the Safety (Fire and Police) cost-sharing multiple employer-defined benefit pension plans (Plans) administered by the California Public Employees’ Retirement System (CalPERS).
Benefit provisions under the Plans are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions, and membership information that can be found on the CalPERS website.
Benefits Provided
CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members. Benefits are based on age at retirement, highest salary for either a one or three year period and years of credited service. The cost-of -living adjustments for the Plans are applied as specified by the California Public Employees’ Retirement Law. The Plans’ provisions and benefits in effect at June 30, 2023, are summarized as follows:
Year Ended Year Ended Year Ended
June 30, 2023 June 30, 2022 June 30, 2021
Claims payable, beginning of year 2,832,930$ 2,151,862$ 1,868,164$ Fi
scal year claims and changes in estimates 264,968 1,275,627 694,762 Claims payments (625,271) (594,559) (411,064) Claims payable, end of year 2,472,627$ 2,832,930$ 2,151,862$ Classic PEPRA Fire PEPRA Fire Police PEPRA Police
Hire date Before 1/1/2013 1/1/2013 Before 1/1/2013 1/1/2013 Before 1/1/2013 1/1/2013 Benefit formula 2% @ 55 2% @ 62 3% @ 50 2.7% @ 57 3% @ 50 2.7% @ 57 Benefit vesting schedule 5 Years 5 Years 5 Years 5 Years 5 Years 5 Years Benefit payments Monthly for Life Monthly for Life Monthly for Life Monthly for Life Monthly for Life Monthly for Life Retirement age 55 62 50 57 50 57
Monthly benefits as a %
of eligible compensation 2% 2% 3% 2.7% 3% 2.7%
Required employee cont. rates 6.90% 6.75% 8.99% 13.00% 8.99% 13.00% Required employer cont. rates 28.18% 6.75% 23.75% 12.78% 23.75% 12.780% Miscellaneous Safety
114
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Employees Covered
At June 30, 2023, the following employees were covered by the benefit terms for the Plans:
Contributions
Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rates are the estimated amount necessary to finance the costs of benefits earned by employees d uring the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. For the year ended June 30, 2023, the City’s contributions were as follows:
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions
Pension Liability
As of June 30, 2023, the City reported net pension liabilities for each plan as follows:
The following summarizes the changes in the total pension liability, fiduciary net position and net pension liability of the City’s Miscellaneous agent multiple employer plan:
Miscellaneous Safety
Active 135 97
Transferred 113 59
Separated 173 21
Retired 188 96
T
otal 609 273
Miscellaneous Safety
Employer contributions $ 4,653,126 $ 4,786,119 Net Pension
Liability
Miscellaneous $ 28,860,721
Safety - Proportionate 34,974,880
Total Net Pension Liability $ 63,835,601
Total Pension
Liability
Plan Fiduciary
Net Position
Net Pension
Liability (Asset)
Balance at June 30, 2021 (FYE 6/30/2022) 101,578,048$ 87,711,510$ 13,866,538$ Service cost 2,016,032 - 2,016,032 Interest in Total Pension Liability 7,137,937 - 7,137,937 Difference between actual and expected experience (294,254) - (294,254) Employer contributions - 3,090,721 (3,090,721) Employee contributions - 1,056,241 (1,056,241) Net investment income - (6,626,820) 6,626,820 Benefit payments (4,886,808) (4,886,808) -
Administrative expenses - (54,639) 54,639 Net changes 7,572,878 (7,421,305) 14,994,183 Balance at June 30, 2022 (FYE 6/30/2023) 109,150,926$ 80,290,205$ 28,860,721$ 115
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
The City’s net pension liability for the Fire and Police Safety plans are measured as the proportionate share of the net pension liability while the Miscellaneous plan’s net pension liability is a direct calculation based on its actuarial study and is not proportionate. The net pension liability of all the Plans are measured as of June 30, 2022, and the total pension liability for the Plans used to calculate the net pension liability was determined by an actuari al valuation as of June 30, 2021 rolled forward to June 30, 2022 using standard update procedures. The City’s proportion of the net pension liability for the Fire and Police Plans was based on a projection of the City’s long-term share of contributions to the pension plans relative to the projected contributions of all participating employers, actuarially determined. The City ’s proportionate share of the net pension liability for the Fire and Police Plans as of the fiscal years ended June 30, 2022 and 2023 was as follows:
For the year ended June 30, 2023, the City recognized a pension expense of $11,112,957. The following summarizes the pension expense components by plan:
At June 30, 2023, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
The City reported $9,632,776 as deferred outflows of resources related to contributions subsequent to the measurement date that will be recognized as a reduction of the net pension liability in the year ended June 30, 2024.
Safety
June 30, 2022 0.2766%
June 30, 2023 0.3028%
Change in Proportions 0.0262%
Miscellaneous Safety Total
Pension expense per plans 4,757,252$ 4,635,723$ 9,392,975$ GASB 68 adjustments 847,874 872,108 1,719,982 Pension expense per government-wide statements 5,605,126$ 5,507,831$ 11,112,957$ Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
4,653,126$ - $ 4,786,119$ - $
Changes in assumptions 2,159,983 - 3,526,527 - 36,816 176,552 1,447,483 379,800
- - 4,179,386 -
- - - 3,293,401 4,109,754 - 5,523,022 -
10,959,679$ 176,552$ 19,462,537$ 3,673,201$
Net differences between projected and actual earnings
on plan investments
Total
Changes in proportions
Differences between the employer's contributions and
Safety
the employer's proportionate share of contributions
Miscellaneous
Pension contributions subsequent to measurement date
Differences between expected and actual experiences
116
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:
Actuarial Assumptions
The total pension liabilities in the June 30, 2021 actuarial valuations were determined using the following actuarial assumptions:
Discount Rate
The discount rate used to measure the total pension liability was 6.9 percent for the Plan. To determine whether the municipal bond rate should be used in the calculation of a discount rate for the Plan, CalPERS stress tested plans that would most likely result in a discount rate that would be different from the actuarially assumed discount rate. Based on the testing, none of the tested plans run out of assets. Therefore, the current
6.9 percent discount rate is adequate and the use of the municipal bond ra te calculation is not necessary.
The long term expected discount rate of 6.9 percent will be applied to all plans in the Public Employees Retirement Fund (PERF). The stress test results are presented in a detailed report that can be obtained from the CalPERS website. The long-term expected rate of return on pension plan investment s was determined using a building-block method in which best -estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.
CalPERS will continue to check the materiality of the difference in calculation until such time as they change their methodology. The long- term expected rate of return on pension plan investments was determined using a building-block method in which best -estimate ranges of expected future real rates of Fiscal Year Ending: Miscellaneous Safety
2024 2,023,003$ 3,393,422$
2025 1,257,706 2,744,487
2026 322,202 1,496,195
2027 2,527,090 3,369,113
2028 - -
Thereafter - -
Total 6,130,001$ 11,003,217$
Deferred Outflows/(Inflows) of Resources
Valuation Date June 30, 2021
Measurement Date June 30, 2022
Actuarial Cost Method Entry-Age Normal
Asset Valuation Method Market Value of Assets
Actuarial Assumptions:
Discount Rate 6.90%
Inflation 2.50%
Projected Salary Increase (1)
Investment Rate of Return 6.9% (2)
Retirement Age (3)
Mortality (3)
(3) Derived using CalPERS' membership data for all funds (1) Varies by age and service
(2) Net of pension plan investment expenses, including inflation 117
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
return (expected returns, net of pension plan investment expense and inflation) are develo ped for each major asset class. In determining the long-term expected rate of return, CalPERS too k into account both short-term and long-term market return expectations as well as the expected pension fund cash flows. Using historical returns of all the funds’ asset classes, expected compound returns were calculated over the short- term (first 10 years) and the long-term (11-60 years) using a building-block approach. Using the expected nominal returns for both short -term and l ong-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculat ing the single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short -term and long- term returns. The expected rate of return was then set equivalent to the single equivalent rate calculated above and rounded down to the nearest one quarter of one percent. The table below reflects the long-term expected real rate of return by asset class. The rate of return was calculated using the capital market assumptions applied to determine the discount ra te and asset allocation. These rates of return are net of administrative expenses.
C. Sensitivity of the Net Pension Liability to Changes in the Discount Rate
The following presents the City’s net pension liability for the Plans, calculated using the discount rate for the Plans, as well as what the City ’s net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate:
Assumed Long-Term
Asset Expected Real
Asset Class (a) Allocation Return (1)(2)
Global Equity Cap Weighted 30.00% 4.54%
Global Equity NonCap Weighted 12.00% 3.84%
Private Equity 13.00% 7.28%
Treasury 5.00% 0.27%
Mortgage-backed Securities 5.00% 0.50%
Investment Grade Corporates 10.00% 1.56%
High Yield 5.00% 2.27%
Emerging Market Debt 5.00% 2.48%
Private Debt 5.00% 3.57%
Real Assets 15.00% 3.21%
Leverage -5.00% -0.59%
Total 100.00%
(1) An expected inflation of 2.3% used for this period. (2) Figures are based on the 2021-22 Asset Liability Study.
Miscellaneous Safety
1% Decrease 5.90% 5.90%
Net Pension Liability 43,677,051$ 54,683,004$
Current Discount Rate 6.90% 6.90%
Net Pension Liability 28,860,721$ 34,974,880$
1% Increase 7.90% 7.90%
Net Pension Liability 16,633,902$ 18,867,941$
118
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Pension Plan Fiduciary Net Position
Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.
N
OTE 12 - OTHER POSTEMPLOYMENT BENEFITS PLAN (OPEB)
Pla
n Description
The City provides certain health care benefits for eligible retired employees through the California Public Employees’ Retirement System (CalPERS) under the Public Employees’ Medical and Hospital Care Act (PEMHCA). This is a single-employer defined-benefit postemployment healthcare benefits plan . Eligible retirees may enroll in any of the available CalPERS medical plans. CalPERS issues a separate annual comprehensive financial report that includes financial statements and required supplementary information.
Copies of the report may be obtained from the CalPERS website at www.calpers.ca.gov.
C
ommencing with fiscal year 2014, the City participates in the California Employers’ Retiree Benefit Trust (CERBT) Fund, which is administered by CalPERS. CERBT is a tax -qualified irrevocable trust organized under Internal Revenue Code Section 115 and esta blished to prefund retiree healthcare benefits. CERBT, an agent multiple -employer trust, issues a publicly available financial report including GASB Statement No. 74, Financial Reporting for Postemployment Benefits Plans Other Than Pension Plans, disclosur e information in aggregate with the other CERBT participating employers. That report can be obtained from the CalPERS Web site at www.calpers.ca.gov.
B
enefits Provided
The City provides post-retirement benefits to eligible employees as follows:
Benefits Provided:
Eligibility:
Surviving Spouse:
Other:
City monthly cap:
2022 Misc $1,200
2022 Safety $1,200
Unrepresented/Hourly receive PEMHCA minimum ($133/month 2018), 1 Fire retiree receives higher existing benefit of $1,766/month, and 2 Police retiree receive the higher existing benefit of $1,377/month
Full-time employees retiring directly from City under CalPERS (age 50 and 5 years, or disability)
Miscellaneous PEPRA retirees age 52 and 5 years
Surviving spouse coverage based on retirement plan election Same benefit continues to surviving spouse
No City paid dental, vision, life, Medicare Part B
Previous medical benefits can be found in the back of the report 119
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Employees Covered by Benefit Terms
A
t June 30, 2023, the benefit terms covered the following employees:
C
ontributions
The City makes contributions, based on an actuarially determined rate, which are approved by the authority of City Council. Total contributions during the year were $ 2,486,026. Total contributions included in the measurement period were $2,167,712. The actuarially determined contribution for the measurement period was $2,269,000. The City’s contributions were 9.32% of covered employee payroll during the fiscal year ended June 30, 2023. Employees are not required to contribute to the plan.
A
ctuarial Assumptions
The following summarizes the actuarial assumptions for the OPEB plan included in this fiscal year:
Active employees 240
Inactive employees 197
Total employees 437
Valuation Date: June 30, 2022
Measurement Date: June 30, 2022
Actuarial Cost Method:
Amortization Period: 10 years
Asset Valuation Method:
Actuarial Assumptions:
Discount Rate 6.25%
Inflation 2.50%
Payroll Increases 2.75%
Medical Trend
Investment Rate of Return
Mortality CalPERS 2000-2019 Experience Study
Retirement
Service Requirement
Investment gains and losses spread over 5-year rolling period Actives and Retirees currently covered: 100%
Actives currently waived: 80%
Retirees currently Waived: 10% elect at 65
Unrepresented & Hourly: 60%
Misc. Benefit 2%@55
Expected Retirement Age (ERA) 61.2
Safety Benefit 3%@50
ERA 54.7 (Fire) 54.2 (Police)
PEPRA Misc. Benefit 2%@62
ERA 63.1
PEPRA Safety Benefit 2.7%@57
ERA 56.7 (Fire) 55.5 (Police)
6.25%, Net of OPEB plan investment expenses, including inflation Entry-Age Normal, Level % of pay
Non-Medicare - 8.5% for 2024, decreasing to an ultimate rate of 3.45% in 2076 Medicare (Non-Kaiser) - 7.5% for 2024, decreasing to an ultimate rate of 3.45% in 2076 Medicare (Kaiser) - 6.25% for 2024, decreasing to an ultimate rate of 3.45% in 2076 120
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Discount Rate
The projection of cash flows used to determine the discount rate assumed that the City contribution will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan's fiduciary net position was projected to cover all future OPEB payments. Therefore, the discount rate was set to be equal to the long-term expected rate of return which was applied to all periods of projected benefit payments to determine the total OPEB liability.
Long-Term Expected Rate of Return
The long-term expected rate of return on OPEB plan investments was determined using a building -block method in which expected future real rates of return (expected returns, net of OPEB plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:
Net OPEB Liability
The City's net OPEB liability was measured as of June 30, 202 2 (measurement date), and the total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation as of June 30, 2022 (valuation date) for the fiscal year ended June 30, 2023 (reporting date). The following summarizes the changes in the net OPEB liability for the year ended June 30, 2023:
Asset Class
Percentage
of Portfolio
Long-Term Expected
Rate of Return
Global Equity 49.00% 4.56%
Fixed Income 23.00% 1.56%
TIPS 5.00% -0.08%
Commodities 3.00% 1.22%
REITs 20.00% 4.06%
Total 100.00%
Weighted Average Return 3.44%
Assumed Long-Term Rate of Inflation 2.50%
6.25%Expected Long-Term Net Rate of Return, Rounded
Fiscal Year Ended June 30, 2023
(Measurement Date June 30, 2022)
Total OPEB
Liability
Plan Fiduciary
Net Position
Net OPEB
Liability (Asset)
Balance at June 30, 2022 40,598,264$ 40,363,916$ 234,348$ Service cost 1,318,411 - 1,318,411 Interest in Total OPEB Liability (TOL) 2,602,649 - 2,602,649 Employer contributions - 2,167,712 (2,167,712) Balance of diff between actual and exp experience (3,709,136) - (3,709,136) Balance of changes in assumptions 117,734 - 117,734 Actual investment income - (5,403,647) 5,403,647 Administrative expenses - (15,516) 15,516 Benefit payments (2,162,422) (2,162,422) -
Adjustments 806,924 4,535 802,389 Net changes (1,025,840) (5,409,338) 4,383,498 Balance at June 30, 2023 39,572,424$ 34,954,578$ 4,617,846$ 121
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
As of June 30, 2023, the City had total assets of $ 1,065,418 in a City Retirees Health Fund. Cash in the Retirees Health Fund is transferred to CERBT periodically.
Deferred Inflows and Outflows of Resources
At June 30, 2023, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
Of the total amount reported as deferred outflows of resources related to OPEB, $2,486,026 resulting from City contributions subsequent to the measurement date and before the end of the fiscal year will be included as a reduction of the net OPEB liability in the year ended June 30, 2024.
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:
OPEB Expense
The following summarizes the OPEB expense by source during the year ended June 30, 2023:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Difference between actual and expected experience 588,608$ 3,525,969$ Difference between actual and expected earnings 3,068,853 - Change in assumptions 1,634,232 376,037
OPEB contribution subsequent to measurement date 2,486,026 - Totals 7,777,719$ 3,902,006$
Year Ended June 30,
2024 339,911$
2025 327,277
2026 56,603
2027 1,370,284
2028 (377,896)
Thereafter (326,492)
Total 1,389,687$
Service cost 1,318,411$
Interest in TOL 2,602,649
Expected investment income (2,522,708)
Actuarial adjustments (1,334,738)
Difference between actual and expected experience (561,081) Difference between actual and expected earnings 548,029 Change in assumptions 322,562
Administrative expenses 15,516
OPEB Expense 388,640$
122
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
The following summarizes changes in the net OPEB liability as reconciled to OPEB expense during the year ended June 30, 2023:
Sensitivity to Changes in the Discount Rate
The net OPEB liability of the City , as well as what the City 's net OPEB liability would have been if calculated using a discount rate with one percentage point lower and one percentage point higher, is as follows:
Sensitivity to Changes in the Healthcare Cost Trend Rates
The net OPEB liability of the City, as well as what the City's net OPEB liability would have been if it were calculated using healthcare cost trend rates one percentage point lower and one percentage point higher than current healthcare cost trend rates, is as follows:
4,617,846$
(234,348)
4,383,498
Changes in deferred outflows (6,174,809)
Changes in deferred inflows (306,075)
Employer contributions and implicit subsidy 2,486,026
OPEB Expense 388,640$
Net OPEB liability ending
Net OPEB liability beginning
Change in net OPEB liability
(1% Decrease ) 6.25% (1% Increase )
Net OPEB Liability (Asset) 9,437,642$ 4,617,846$ 596,064$ Discount Rate
(1% Decrease ) Current (1% Increase )
Net OPEB Liability (Asset) 2,219,198$ 4,617,846$ 6,800,231$ Trend Rate
123
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
NOTE 13 - COMMITMENTS AND CONTINGENCIES
A. Commitments
The City had the following significant unexpended contractual commitments as of June 30, 2023:
B. Lawsuits
The City is presently involved in certain matters of litigation that have arisen in the normal course of conducting City busines s. Based upon consultation with the City Attorney, these cases, in aggregate, are not expected to result in a material adverse financial impact on the City. Additionally, City management believes that the City's insurance programs are sufficient to cover any potential losses should an unfavorable outcome materialize.
C. Federal, State and County Grant Programs (Contingencies)
The City participates in a number of Federal, State and County programs that are fully or partially funded by grants received from other governmental units. Expenditures financed by grants are subject to audit by the appropriate grantor government. If expenditures are disallowed due to noncompliance with grantor program regulations, the City may be required to reimburse the grantor government. As of June 30, 2023, some amounts of grant expenditures have not been audited, but the City believes that disallowed Construction Inspection Services 675,000$ 492,085$ Lenslock Service and Cameras 615,781 369,468 Pavement Rehabilitation 313,500 199,711
Rocklin Road @ Pacific Street Roundabout 5,755,604 102,275 Rocklin Road/SCB 1,800,000 243,678
Whitney Park Phase II Asphalt Pump Track 67,300 47,785 Aguilar Road Improvements 722,747 507,511
Sewerline Upgrade 50,500 3,994
Stormwater Pipe Replacement 990,570 10,851 SCB WIDENING 134,500 110,289
Annual Road Maintenance 828,575 692,865
Springview Area Road Resurfacing 495,787 298,889 Springview Drive Pipe Replacement 395,392 169,278 Mountaingate Reconstruction for CIP 1,259,043 78,652 I-80 Westbound Auxiliary Lane 2,675,000 2,668,866 SWRA Trails for CIP 828,830 147,946
Bike Pump Track for CIP 67,300 47,785
Council Chambers Reconfiguration 86,135 86,083 City Hall Office Space Remodel 32,500 8,473 Police Men's Locker Rooms 114,734 8,154
Police Dept Steel Beam/Amphitheater Wood Beam 76,684 76,684 y p p Project 101,200 101,200
Totals 18,086,682$ 6,472,522$
Project Name
Original
Commitment
Commitment
Remaining
124
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
expenditures, if any, based on subsequent audits will not have a material effect on any individual governmental funds or the overall financial condition of the City.
NOTE 14 - SPECIAL TAX ASSESSMENT DISTRICTS
The Mello-Roos Community Facilities Act of 1982 (Mello-Roos Act) allows establishment of Community Facilities Districts (CFD). Under the Mello-Roos Act, special taxes are levied by CFDs to provide services such as police and fire protection, and to finance infrastructure improvements. The City of Rocklin has established CFDs that have issued bonds and levied taxes under the Mello-Roos Act. The City is not liable for repayment of these bonds and acts only as an agent for the property owners/bond holders in collecting and forwarding the special taxes. The assets held by the City on behalf of these districts and related liabilities are recorded in Custodial funds. Special taxes have also been levied under the Mello-Roos Act to pay for services provided by CFD’s No. 1, No. 5, and No. 6. The activities of these CFDs are accounted for in Special Revenue funds, which are presented in the City’s Basic Financial Statements.
The Landscaping and Lighting Act of 1972 (Lighting Act) allows local government agencies to form Landscape and Lighting Districts for the purpose of financing the costs and expenses of landscaping and lighting public areas. The City has formed two districts which levy special assessments under the Lighting Act: Lighting Maintenance District No.1 and Landscaping and Lighting Maintenance District No. 2. The activities of these districts are accounted for in Special Revenue funds and are included in the City’s Basic Financial Statements. The disclosures in Note 1 3 include those required by California Government Code section 50075.1.
The following table presents the balances of the various district bonds as of June 30, 2023:
Community Facilities District No. 1 Special Tax
Community Facilities District No. 1 was formed in 1986 to provide fire protection and suppression services and ambulance and paramedic services to various developments within the City of Rocklin. These services are provided by the City of Rocklin Fire Depa rtment. The cost for these services is born by the City and partially offset by the special tax levied on parcels within the district. As such, district expenditures are primarily a reimbursement to the City. For fiscal year 2023, revenues were $2,268,807 and reimbursement expenditures were $2,268,807. If expenditures exceed revenues in a fiscal year, the excess expenditures are paid with cash on hand. There were no active projects during the fiscal year.
Community Facilities District No. 3 Bonds
Community Facilities District No. 3 was formed in 1990 to issue bonds for street related improvements and projects, such as the construction of roadways, storm drainage facilities, sanitary sewer facilities, water Balance
Community Facilities District Bonds June 30, 2023
CFD No. 6 - Sunset West Drainage 228,923$
CFD No. 8 - Sunset West Park Drive 592,448
CFD No. 9 - Sunset West/Blue Oaks 705,435
CFD No. 10 - 2015 Whitney Ranch 19,915,000
CFD No. 10 - 2019 Whitney Ranch 15,580,000
CFD No. 10 - 2022 Whitney Ranch 13,605,000
CFD No. 11 - Sierra College Interchange 4,090,000
Total CFD Bonds 54,716,806$
125
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
lines, and gas lines. The district’s improvements and projects have been completed. For fiscal year 2023, revenues were $417 with no expenditures. The primary source of revenues is special taxes and expenditures are for activities related to debt service. If expenditures exceed revenues in a fiscal year, the excess expenditures are paid with cash on hand.
Community Facilities District No. 5 Special Tax
Community Facilities District No. 5 was formed in 1996 to fund the operation and maintenance of street and parkway lights, streetscapes, open space, and parks in various developments within the City of Rocklin.
For fiscal year 2023, revenues were $6,808,220 and expenditures were $5,542,644. The primary source of revenues is special taxes and expenditures are for operating costs such as payroll, maintenance, professional services, and utilities. If expenditures exceed revenues in a fiscal year, the excess expenditures are paid with cash on hand. There were no active projects during the fiscal year.
Community Facilities District No. 6 Bonds
Community Facilities District No. 6 was formed in 1998 to issue bonds for installation, construction, and acquisition of drainage facilities and open space. The district’s improvements and projects have been completed. For fiscal year 2023, revenues were $ 84,677 and expenditures were $ 92,059. The primary source of revenues is special taxes and expenditures are for activities related to debt service. If expenditures exceed revenues in a fiscal year, the excess expenditures are paid with cash on hand.
Community Facilities District No. 6 Special Tax
A special tax has been levied to fund the operation and maintenance of the open space and storm drainage facilities of Community Facilities District No. 6. For fiscal year 2023, revenues were $ 359,592 and expenditures were $ 342,672. The primary source of revenue is special taxes and expenditures are for operating costs such as payroll, maintenance and professional services. If expenditures exceed revenues in a fiscal year, the excess expenditures are paid with cash on hand. There were no active projects during the fiscal year.
Community Facilities District No. 7 Bonds
Community Facilities District No. 7 was formed in 1997 to issue bonds for the construction and acquisition of a highway interchange and connectors to provide access between Blue Oaks Blvd. and Highway 65. The district’s improvements and projects have been completed. For fiscal year 2023, revenues were $2,156 and expenditures were $ 250,489. The primary source of revenues is special taxes and expenditures are for activities related to debt service. If expenditures exceed revenues in a fiscal year, the excess expenditures are paid with cash on hand.
Community Facilities District No. 8 Bonds
Community Facilities District No. 8 was formed in 1998 to issue bonds for the construction, acquisition, and widening of portions of Park Dr. and Blue Oaks Blvd. and the installation of backbone utility infrastructure within the same area. The district’s improvements and projects have been completed. For fiscal year 2023, revenues were $207,372 and expenditures were $219,383. The primary source of revenues is special taxes and expenditures are for activities related to debt service. If expenditures exceed revenues in a fiscal year, the excess expenditures are paid with cash on hand.
Community Facilities District No. 9 Bonds
Community Facilities District No. 9 was formed in 1998 to issue bonds for the construction, acquisition, and widening of portions of Lone Tree, Blue Oaks, and West Oaks Boulevards and installation of traffic control lights. The district’s improvements and projects have been completed. For fiscal year 2023, revenues were $243,948 and expenditures were $258,998. The primary source of revenues is special taxes and expenditures are for activities related to debt service. If expenditures exceed revenues in a fiscal year, 126
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
the excess expenditures are paid with cash on hand.
Community Facilities District No. 10 Bonds
Community Facilities District No. 10 was formed in 2005 to issue bonds for the construction of transportation, wastewater system, drainage, and landscaping facilities and other public improvements for development within the Whitney Ranch District. During fiscal year 2016, $27.09 million in special tax bonds were issued to refund the original bonds and provide $5.85 million for additional improvements.
During fiscal year 2019, $17.828 million in special tax bonds were issued to finance the acquisition of public facilities. During fiscal year 2022 , $13.605 million in special tax bonds were issued to finance the acquisition of public facilities . For fiscal year 2023, revenues were $ 3,446,838 and expenditures were $4,032,092. The primary source of revenues is special taxes and expenditures are for activities related to debt service. If expenditures exceed revenues in a fiscal year, the excess expenditures are paid with cash on hand.
Community Facilities District No. 11 Bonds
Community Facilities District No. 11 was formed in 2006 to issue bonds for the construction of a new interchange on Interstate 80 at Sierra College Blvd. This project has been completed. For fiscal year 2023, revenues were $618,298 and expenditures were $577,800. The primary source of revenues is special taxes and expenditures are for activities related to debt service. If expenditures exceed revenues in a fiscal year, the excess expenditures are paid with cash on hand.
Lighting Maintenance District No. 1
Lighting Maintenance District No. 1 was formed in 1979 to provide maintenance of streetlights and safety lighting throughout various portions of the City of Rocklin. During the fiscal year, 1,600 streetlights, 20 traffic signals, 3 flashing lights, and safety lighting was maintained. For fiscal year 2023, revenues were $252,348 and expenditures were $ 252,348. The primary source of revenues is special assessments and expenditures are primarily for payroll, maintenance, professional services, and utilities. There were no active projects during the fiscal year.
Landscaping and Lighting Maintenance District No. 2
Landscaping and Lighting Maintenance District No. 2 was formed in 1996 to provide maintenance of streetlights, safety lighting, and roadway landscaping throughout various portions of the City of Rocklin.
During the fiscal year, 2,900 streetlights, 5 2 traffic signals, 63 irrigation timers for roadway landscaping and safety lighting was maintained. For fiscal year 2023, revenues were $2,614,827 and expenditures were $2,544,476. The primary source of revenues is special assessments and expenditures are primarily for payroll, maintenance, professional services, and utilities. There was a Traffic Signal Study project during the fiscal year.
Park Development and Maintenance Tax
The Park Development and Maintenance Tax was enacted in 1998 , reenacted in 2009, and reenacted in 2019, to provide development, installation, servicing, maintenance, repair and operation of parks in the City of Rocklin. From fiscal year 2010 through 2023, there have been no projects funded by the tax. The tax revenue has been primarily used for payroll, professional services and utilities in connection with park maintenance and operation.
127
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
The table below presents historical park tax revenues and related expenditures for the last five fiscal years.
Expenditures in excess of park tax revenues are paid from general fund.
NOTE 1 5 - SUCCESSOR AGENCY TRUST (FORMER ROCKLIN REDEVELOPMENT
AGENCY)
Pursuant to Assembly Bills 1X26 and 1484 (“the Bills”), all redevelopment agencies in the State of California were dissolved on February 1, 2012. The Bills authorized certain local agencies, such as a city or county, to become the Successor Agency. On January 1, 2012, the City Council elected to become the Successor Agency for the former Rocklin Redevelopment Agency. The Successor Agency is responsible for winding down the affairs of the former redevelopment agency, which include s making payments due for enforceable obligations and disposition of the assets of the former redevelopment agency. Examples of enforceable obligations include payments to contractors, bond debt service payments, and loan payments.
The Successor Agency has an oversight board that supervises its work. The Oversight Board is comprised of representatives of the local agencies that serve the redevelopment project areas within the County.
Successor agencies are only allocat ed revenue in the amount necessary to pay the enforceable obligations of the former redevelopment agency. The agency will only receive this revenue until all enforceable obligations have been paid in full and all assets have been liquidated. The assets and activities of the dissolved redevelopment agency are reported in a fiduciary fund (private purpose trust fund) in the financial statements of the City.
On December 10, 2013, by resolution, the City Council elected to assume responsibility for performing the housing functions of the former Rocklin Redevelopment Agency. All housing assets were transferred from the Successor Agency Housing Fund to the City of Rocklin. The housing assets previously accounted for as a private' purpose trust fund are now accounted for as a special revenue fund in the City's financial statements.
Revenue
Year Ended Park Tax Over (Under)
June 30, Revenue Expenditures Expenditures
2019 581,089$ 1,969,053$ (1,387,964)$ 2020 612,175 2,413,143 (1,800,968) 2021 627,285 2,466,342 (1,839,057) 2022 637,420 2,518,471 (1,881,051) 2023 653,165 2,740,169 (2,087,004) Total 3,111,134$ 12,107,178$ (8,996,044)$
128
City of Rocklin
Notes to the Basic Financial Statements
June 30, 2023
Successor Agency Noncurrent Liabilities
The following is a summary of changes in long-term liabilities for governmental activities for the year ended June 30, 2023:
2018 Tax Allocation Refunding Bonds
During fiscal year 2019 , the Successor Agency issued the Series 2018 Tax Allocation Bonds totaling $19,175,000, at a premium of $2,107,808, to defease and redeem all amounts under the 2002 Tax Allocation Bonds, 2005 Tax Allocation Bonds, and 2007 Tax Allocation Bonds. The bonds are secured by a pledge of, and lien on, and repaid from property tax revenues deposited with respect to the Project Area from time to time in the Redevelopment Property Tax Trust Fund established and held by the Placer County Auditor- Controller. If an event of default has occurred under the Indenture and is continuing, the Trustee may, or, if requested in writing by the owners of a majority in aggregate principal amount of the Bonds then outstanding, the Trustee shall, (a) declare the principal of the Bonds, together with the accrued interest thereon, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything in the Indenture or in the Bonds to the contrary notwithstanding, and (b) the Trustee shall, subject to the provisions of the Indenture, exercise any other remedies available to the Trustee and the Bond Owners in law or at equity. The term of the bonds is 19 years. Interest rates on the bonds range from 3 % to 5%. Principal payments ranging from $630,000 to $1,470,000 are payable annually on September 1
st and interest payments ranging from $11,813 to $440,363 were payable semi - annually on March 1st and September 1st, through September 1, 2037. The aggregate debt service savings was $4,742,243 from this refunding and the loss on defeasance was $289,857.
The following summarizes the Successor Agency’s future debt service obligations:
Due
Beginning Ending Within One
Description Balance Additions Deletions Balance Year
General Long-Term Debt:
2018 Refunding Tax Allocation Bonds 16,850,000$ -$ 750,000$ 16,100,000$ 790,000$ Amortized Premium:
2018 Refunding Tax Allocation Bonds 1,686,246 - 105,390 1,580,856 105,390 Total Noncurrent Liabilities 18,536,246$ -$ 855,390$ 17,680,856$ 895,390$ Year Ending
June 30, Principal Interest Total
2024 790,000$ 739,475$ 1,529,475$ 2025 835,000 698,850 1,533,850 2026 870,000 656,225 1,526,225 2027 915,000 611,600 1,526,600 2028 955,000 564,850 1,519,850 2029-2033 5,575,000 2,034,751 7,609,751 2034-2038 6,160,000 561,687 6,721,687 Total 16,100,000$ 5,867,438$ 21,967,438$
129
REQUIRED SUPPLEMENTARY INFORMATION
130
City of Rocklin
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual (GAAP Basis)
General Fund
For the Year Ended June 30, 2023
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes and assessments 47,122,500 $ 47,272,500 $ 48,498,630 $ 1,226,130 $ Licenses and permits 3,498,200 3,498,200 3,378,389 (119,811) Fines and forfeitures 132,100 132,100 195,898 63,798 Intergovernmental 546,600 600,800 920,203 319,403 Charges for services 2,185,800 2,268,800 2,337,942 69,142 Use of money and property 1,233,800 1,333,800 1,731,137 397,337 Contributions and donations 2,289,000 2,289,000 6,420,533 4,131,533 Other revenues 402,800 462,800 557,262 94,462 Total Revenues 57,410,800 57,858,000 64,039,994 6,181,994
EXPENDITURES
Current:
General governmen
t 13,931,400 19,821,090 17,178,373 2,642,717
Public safety 32,196,300 32,299,100 32,367,589 (68,489) Public services 4,060,400 4,127,880 3,585,599 542,281 Parks and recreation 4,727,600 5,023,800 4,911,681 112,119 Community development 5,342,300 5,342,300 4,502,655 839,645 Capital outlay 4,349,000 5,141,900 5,938,387 (796,487) Debt service:
Principal retirement - - 8,403 (8,403) Interest and fiscal charges - - 9,492 (9,492) Total Expenditures 64,607,000 71,756,070 68,502,179 3,253,891 Excess (Deficiency) of Revenues
over Expenditures (7,196,200) (13,898,070) (4,462,185) 9,435,885
OTHER FINANCING SOURCES (USES)
Transfers in 5,458,000 12,296,730 12,651,314 354,584 Transfers out (11,600) (2,007,600) (2,007,442) 158 Total Other Financin
g Sources (Uses) 5,446,400 10,289,130 10,643,872 354,742 Net Change in Fund Balances (1,749,800) (3,608,940) 6,181,687 9,790,627 Fund Balances Beginning 48,038,469 48,038,469 48,038,469 - Fund Balances Ending 46,288,669 $ 44,429,529 $ 54,220,156 $ 9,790,627 $ The City's legal budget authority is by the fund level. 131
City of Rocklin
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual (GAAP Basis)
SB325 Sales Tax
For the Year Ended June 30, 2023
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes and assessments 4,647,500$ 4,647,500$ 5,586,487$ 938,987 $ Intergovernmental 594,300 594,300 668,251 73,951 Use of money and property 5,000 5,000 83,399 78,399 Total Revenues 5,246,800 5,246,800 6,338,137 1,091,337
EXPENDITURES
Current:
General government 23,200 23,200 28,766 (5,566) Public services 2,556,700 2,770,000 2,347,637 422,363 Capital outla
y 1,360,000 2,071,500 1,419,832 651,668 Total Expenditures 3,939,900 4,864,700 3,796,306 1,068,394 Excess (Deficiency) of Revenues
over Expenditures 1,306,900 382,100 2,541,831 2,159,731
OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out (438,900) (438,900) (504,633) (65,733) Total Other Financing Sources (Uses) (438,900) (438,900) (504,633) (65,733) Net Change in Fund Balances 868,000 (56,800) 2,037,198 2,093,998 Fund Balances Beginning 4,631,388 4,631,388 4,631,388 - Fund Balances Ending 5,499,388$ 4,574,588$ 6,668,586$ 2,093,998$ The City's legal budget authority is by the fund level. 132
City of Rocklin
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual (GAAP Basis)
Low and Moderate Income Housing Asset Fund
For the Year Ended June 30, 2023
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property 9,900$ 9,900 $ 1,606,868 $ 1,596,968 $ Total Revenues 9,900 9,900 1,606,868 1,596,968
EXPENDITURES
Current:
General government - 3,600 - 3,600 Community developmen
t 1,690,000 1,694,400 147,966 1,546,434 Total Expenditures 1,690,000 1,698,000 147,966 1,550,034 Excess (Deficiency) of Revenues
over Expenditures (1,680,100) (1,688,100) 1,458,902 3,147,002
OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out (150,000) (150,000) (153,500) (3,500) Total Other Financing Sources (Uses) (150,000) (150,000) (153,500) (3,500) Net Change in Fund Balances (1,830,100) (1,838,100) 1,305,402 3,143,502 Fund Balances Beginning 11,835,516 11,835,516 11,835,516 - Fund Balances Ending 10,005,416$ 9,997,416 $ 13,140,918$ 3,143,502 $ The City's legal budget authority is by the fund level. 133
City of Rocklin
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual (GAAP Basis)
Streets Grants
For the Year Ended June 30, 2023
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 4,527,700$ 5,703,400 $ 4,861,077 $ (842,323) $ Total Revenues 4,527,700 5,703,400 4,861,077 (842,323)
EXPENDITURES
Capital outla
y 4,527,700 5,703,400 4,292,929 1,410,471 Total Expenditures 4,527,700 5,703,400 4,292,929 1,410,471 Excess (Deficiency) of Revenues
over Expenditures - - 568,148 568,148
OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out - - - - Total Other Financing Sources (Uses) - - - - Net Change in Fund Balances - - 568,148 568,148 Fund Balances Beginning (1,460,266) (1,460,266) (1,460,266) - Fund Balances Ending (1,460,266)$ (1,460,266)$ (892,118)$ 568,148$ The City's legal budget authority is by the fund level. 134
City of Rocklin
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual (GAAP Basis)
American Rescue Plan Act
For the Year Ended June 30, 2023
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental - $ 9,899,730$ 6,838,730$ (3,061,000)$ Total Revenues - 9,899,730 6,838,730 (3,061,000)
EXPENDITURES
Current:
General governmen
t - 2,839,100 - 2,839,100 Public services - 38,000 - 38,000 Total Expenditures - 2,877,100 - 2,877,100 Excess (Deficiency) of Revenues
over Expenditures - 7,022,630 6,838,730 (183,900)
OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out - (7,022,630) (6,838,730) 183,900 Total Other Financing Sources (Uses) - (7,022,630) (6,838,730) 183,900 Net Change in Fund Balances - - - - Fund Balances Beginning - - - - Fund Balances Ending - $ - $ - $ - $ The City's legal budget authority is by the fund level. 135
Schedule of Pension Contr ibutions (GASB 68)
Miscellaneous Plan 2015 2016 2017 2018 2019 2020 2021 2022 2023 Contractually Required
Contributions (Actuarially Determined) 1,733,315 $ 1,796,306$ 2,019,082$ 2,128,089$ 2,245,112$ 2,525,776$ 2,743,889$ 3,090,721$ 4,653,126$ Contributions in Relation to
Actuarially Determined Contributions 2,685,315 1,796,306 3,691,282 2,523,306 2,863,892 2,915,971 6,432,032 3,090,721 4,653,126 Contribution Deficiency (Excess) (952,000) - (1,672,200) (395,217) (618,780) (390,195) (3,688,143) - - Covered Employee Payroll 9,856,574 $ 10,608,255$ 10,273,081$ 11,211,773$ 11,276,404$ 11,546,463$ 11,597,699$ 11,404,973$ 11,558,710$ Contributions as a
Percentage of Covered Payroll 27.24% 16.93% 35.93% 22.51% 25.40% 25.25% 55.46% 27.10% 40.26% Safety Plan 2015 2016 2017 2018 2019 2020 2021 2021 2022 Contractually Required
Contributions (Actuarially Determined) 2,228,200 $ 2,561,660$ 2,623,619$ 2,825,491$ 3,012,461$ 3,501,382$ 3,990,103$ 4,280,173$ 4,786,119$ Contributions in Relation to
Actuarially Determined Contributions 2,228,200 2,561,660 2,623,619 2,837,597 3,089,436 3,501,382 4,143,874 4,280,173 4,786,119 Contribution Deficiency (Excess) - - - (12,106) (76,975) - (153,771) - - Covered Employee Payroll 8,344,457 $ 9,191,925$ 9,200,222$ 10,029,811$ 10,838,835$ 11,354,811$ 11,888,369$ 11,720,404$ 13,126,407$ Contributions as a
Percentage of Covered Payroll 26.70% 27.87% 28.52% 28.29% 28.50% 30.84% 34.86% 36.52% 36.46% Notes to Schedule:
Valuation Date: June 30, 2021
Assumptions Used: Entry Age Method used for Actuarial Cost Method Level Percentage of Payroll and Direct Rate Smoothing
3.8 Years Remaining Amortization Period
Inflation Assumed at 2.3%
Investment Rate of Returns set at 6.9%
Fiscal year 2015 was the first year of implementation, therefore only nine years are shown.
The CalPERS discount rate was increased from 7.5% to 7.65% in FY 2016, decreased from 7.15% in FY2018 and 6.9% in FY2023.
The CalPERS mortality assumptions was adjusted in fiscal year 2023.
City of Rocklin
June 30, 2023
The mortality table was developed based on CalPERS-specific data. The rates incorporate Generational Mortality to capture ongoing morality
improvement using 80% of Scale MP 2020 published by the Society of Actuaries. For more details, please refer to the 2021 experience study
136
Schedule of Changes in Net Pension Liabilities, Net Pension Liabilities and Proportionate Shares (GASB 68) Miscellaneous Plan (Agent-Multi Employer) 2015 2016 2017 2018 2019 2020 2021 2022 2023 Total Pension liability
Service cost 1,502,398$ 1,453,844$ 1,558,565$ 1,668,040$ 1,838,731$ 1,837,828$ 1,864,754$ 1,848,673$ 1,848,673$ Interest 4,540,630 4,835,092 5,163,328 5,444,560 5,748,392 6,162,322 6,546,678 6,862,818 6,862,818 Diff. bet. expected and actual exper. - (1,262,496) - 4,723,245 (507,928) - - - - Changes of assumptions - 251,382 655,412 130,415 764,300 1,694,787 1,147,218 184,084 184,084 Benefit payments (2,184,035) (2,507,060) (2,905,028) (3,049,139) (3,360,693) (3,623,752) (3,946,715) (4,385,151) (4,385,151) Net change in Total Pension Liability 3,858,993 2,770,762 4,472,277 8,917,121 4,482,802 6,071,185 5,611,935 4,510,424 4,510,424 Total Pension Liability - beginning 60,882,549 64,741,542 67,512,304 71,984,581 80,901,702 85,384,504 91,455,689 97,067,624 101,578,048 Total Pension Liability - ending 64,741,542$ 67,512,304$ 71,984,581$ 80,901,702$ 85,384,504$ 91,455,689$ 97,067,624$ 101,578,048$ 106,088,472$ Plan fiduciary net position
Employer contributions 1,521,604$ 2,685,315$ 1,796,306$ 3,691,282$ 2,523,306$ 2,863,892$ 2,915,971$ 6,432,032$ 6,432,032$ Employee contributions 714,896 729,001 739,091 759,805 867,085 974,104 991,487 986,233 986,233 Net investment income 7,102,833 1,095,538 289,358 5,590,957 4,804,549 4,033,001 3,289,827 16,024,892 16,024,892 Benefit payments (2,184,035) (2,507,060) (2,905,028) (3,049,139) (3,360,693) (3,623,752) (3,946,715) (4,385,151) (4,385,151) Net plan to plan resource movement - 49 - - (141) - - - - Administrative expense - (56,265) (30,457) (73,620) (88,483) (43,788) (92,429) (68,649) (68,649) Other misc income (expense) - - - - (168,031) 141 - - - Net change in plan fiduciary net position 7,155,298 1,946,578 (110,730) 6,919,285 4,577,592 4,203,598 3,158,141 18,989,357 18,989,357 Plan fiduciary net position - beginning 40,872,391 48,027,689 49,974,267 49,863,537 56,782,822 61,360,414 65,564,012 68,722,153 87,711,510 Plan fiduciary net position - ending 48,027,689$ 49,974,267$ 49,863,537$ 56,782,822$ 61,360,414$ 65,564,012$ 68,722,153$ 87,711,510$ 106,700,867$ Net Pension Liability (NPL) 16,713,853$ 17,538,037$ 22,121,044$ 24,118,880$ 24,024,090$ 25,891,677$ 28,345,471$ 13,866,538$ (612,395)$ Plan fiduciary net position as a
percentage of the total Pension liability 74.18% 74.02% 69.27% 70.19% 71.86% 71.69% 70.80% 86.35% 100.58% Covered payroll 9,826,020$ 9,856,574$ 10,608,255$ 10,273,081$ 11,211,773$ 11,276,404$ 11,546,463$ 11,597,699$ 11,597,699$ NPL as a percentage of covered payroll 170.10% 177.93% 208.53% 234.78% 214.28% 229.61% 245.49% 119.56% -5.28% Safety Plan (Cost Sharing) 2015 2016 2017 2018 2019 2020 2021 2021 2022 Proportion of Net Pension Liability 0.21478% 0.22348% 0.23212% 0.23783% 0.24676% 0.25436% 0.26798% 0.27662% 0.30279% Proportionate Share of Net Pension Liability 13,364,737$ 15,339,447$ 20,085,433$ 23,586,276$ 23,778,037$ 26,063,854$ 29,157,726$ 14,960,301$ 34,974,880$ Covered Payroll 8,397,700$ 8,344,457$ 9,191,925$ 9,200,222$ 10,029,811$ 10,838,835$ 11,354,811$ 11,888,369$ 11,720,404$ Proportionate Share of Net Pension
Liability as a % of Covered Payroll 159.15% 183.83% 218.51% 256.37% 237.07% 240.47% 256.79% 125.84% 298.41% Plan Fiduciary's Net Position as a
percentage of the Total Pension Liability 81.42% 80.28% 74.06% 73.31% 75.26% 75.26% 75.10% 88.29% 76.68% Notes to Schedule:
Fiscal year 2015 was the first year of implementation, therefore only nine years are shown.
The CalPERS discount rate was increased from 7.5% to 7.65% in FY 2016, decreased from 7.15% in FY2018 and 6.9% in FY2023.
The CalPERS mortality assumptions was adjusted in fiscal year 2023.
City of Rocklin
June 30, 2023
137
City of Rocklin
Retiree Health Benefits
Schedule of Contributions for Other Postemployment Benefits Fiscal Year Ended 2018 2019 2020 2021 2022 2023
Actuarially determined contribution (ADC) 3,621,000$ 3,026,000$ 3,010,383$ 2,099,000$ 2,149,878$ 2,269,000$ Less: actual contribution in relation to ADC (2,122,778) (6,431,202) (9,666,208) (4,913,942) (2,167,712) (2,486,026) Contribution deficiency (excess) 1,498,222$ (3,405,202)$ (6,655,825)$ (2,814,942)$ (17,835)$ (217,026)$ Covered employee payroll 21,465,000$ 25,692,000$ 24,916,556$ 25,979,504$ 26,758,889$ 26,674,230$ Contrib. as a % of covered em ployee payroll 9.89% 25.03% 38.79% 18.91% 8.10% 9.32% Notes to Schedule:
Assumptions and Methods
Valuation Date: June 30, 2022
Measurement Date: June 30, 2022
Actuarial Cost Method: Entry-Age Normal, Level % of pay Amortization Period: 10 years
Asset Valuation Method:
Actuarial Assumptions:
Discount Rate
Inflation
Salary Increases
Healthcare Trend Rate
Investment Rate of Return
Mortality
Retirement
Other Notes
Changes in benefit terms: change of Miscellaneous Monthly City Cap from $1,093 to $1,200 in FY18.
The following changes were made in FY23:
1) The discount rate was decreased .5%
2) Inflation was decreased .25%
3) Payroll growth was decreased .25%
Contributions were not based on a measure of pay.
Investment gains and losses spread over 5-year
rolling period
6.25%
June 30, 2023
6.25%, Net of OPEB plan investment expenses, including inflation CalPERS 2000-2019 Experience Study
Actives and Retirees currently covered: 100%
Actives currently waived: 80%
Retirees currently Waived: 10% elect at 65
Unrepresented & Hourly: 60%
Actuarially determined contribution rates are calculated as of Jun e 30, one year prior to the end of the fiscal year in which contributions are reported.
2.50%
2.75%
GASB 75 requires a schedule of contributions for the last ten fiscal years, or for as many years as are available if less than ten years are available. GASB 75 was adopted as of Jun e 30, 2018.
Changes of assumptions: mortality improvement scale was updated to Scale MP-2018; Medical Plan at Retirement; Dependent Participation in FY18. Mortality improvement scale was updated to Scale MP-2019 in FY19. Mortality improvement scale was updated to Scale MP-2021 in FY23.
Non-Medicare - 8.5% for 2024, decreasing to an ultimate rate of 3.45% in 2076 Medicare (Non-Kaiser) - 7.5% for 2024, decreasing to an ultimate rate of 3.45% in 2076 Medicare (Kaiser) - 6.25% for 2024, decreasing to an ultimate rate of 3.45% in 2076 138
City of Rocklin
Retiree Health Benefits
Schedule of Changes in Net OPEB Liability
Fiscal Year Ended 2018 2019 2020 2021 2022 2023
Total OPEB liability
Service cost 1,097,000$ 1,130,000$ 1,317,810$ 1,256,156$ 1,347,227$ 1,318,411$ Interest 2,054,000 2,162,000 2,362,150 2,434,371 2,561,898 2,602,649 Changes of benefit terms - 713,000 - - - - Differences between expected and actual experience - (458,000) (602,200) 1,053,296 - (3,709,136) Changes of assumptions - 909,000 (84,459) (610,672) - 117,734 Benefit payments (1,550,000) (1,617,000) (1,748,000) (1,975,408) (1,264,905) (2,162,422) Actuarial adjustments - - - - - 806,924 Net change in Total OPEB Liability 1,601,000 2,839,000 1,245,301 2,157,743 2,644,220 (1,025,840) Total OPEB Liability - beginning 30,111,000 31,712,000 34,551,000 35,796,301 37,954,044 40,598,264 Total OPEB Liability - ending 31,712,000$ 34,551,000$ 35,796,301$ 37,954,044$ 40,598,264$ 39,572,424$ Plan fiduciary net position
Employer contributions 4,704,600$ 2,122,778$ 8,183,202$ 9,666,208$ 4,039,433$ 2,167,712$ Net investment income 836,000 983,000 933,060 508,197 8,266,821 (5,403,647) Benefit payments (1,550,000) (1,617,000) (1,748,000) (1,975,408) (1,264,905) (2,162,422) Administrative expense (4,000) (23,000) (7,159) (16,353) (16,958) (15,516) Net change in plan fiduciary net position 3,986,600 1,465,778 7,361,103 8,182,644 11,024,391 (5,409,338) Plan fiduciary net position - beginning 8,343,400 12,330,000 13,795,778 21,156,881 29,339,525 40,363,916 Plan fiduciary net position - ending 12,330,000$ 13,795,778$ 21,156,881$ 29,339,525$ 40,363,916$ 34,954,578$ Net OPEB liability (asset) 19,382,000$ 20,755,222 14,639,420 8,614,519 234,348 4,617,846 Plan fiduciary net position as a percentage of the
total OPEB liability 38.88% 39.93% 59.10% 77.30% 99.42% 88.33% Covered Employee Payroll 21,865,000$ 21,465,000$ 25,692,000$ 24,916,556$ 25,979,504$ 25,960,321$ Net OPEB liability as a
percentage of covered employee payroll 88.64% 96.69% 56.98% 34.57% 0.90% 17.79% Total OPEB liability as a
percentage of covered employee payroll 145.04% 160.96% 139.33% 152.32% 156.27% 152.43% Other Notes
Changes in benefit terms: change of Miscellaneous Monthly City Cap from $1,093 to $1,200 in FY18.
The following changes were made in FY23:
1) The discount rate was decreased .5%
2) Inflation was decreased .25%
3) Payroll growth was decreased .25%
Contributions were not based on a measure of pay.
Contributions were not based on a measure of pay.
Actuarially determined contribution rates are calculated as of June 30, two years prior to the end of the fiscal year in which contributions are reported.
GASB 75 requires a schedule of contributions for the last ten fiscal years, or for as many years as are available if less than ten years are available. GASB 75 w as adopted as of Jun e 30, 2018.
Actuarially determined contribution rates are calculated as of June 30, one year prior to the end of the fiscal year in which contributions are reported.
Changes of assumptions: mortality improvement scale was updated to Scale M P-2018; Medical Plan at Retirement; Dependent Participation in FY18. Mortality improvement scale was updated to Scale MP-2019 in FY19. Mortality improvement scale was updated to Scale MP-2021 in FY23.
June 30, 2023
139
SUPPLEMENTARY INFORMATION
140
This page intentionally left blank
141
City of Rocklin
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
Total Total
Special Capital Total Debt
Revenue Projects Permanent Service
Funds Funds Funds Funds 2023 2022
ASSETS
Cash and investments 14,571,770$ 10,569,355 $ - $ 7,200$ 25,148,325$ 18,939,414 $ Restricted cash and investments 156,556 - 508,479 1,595,184 2,260,219 2,747,056 Receivables:
Taxes 718,763 - - - 718,763 545,667 Intergovernmental 1,079,787 - - - 1,079,787 687,607 Other receivables 1,449 - - - 1,449 1,449 Prepaid items 578 - - - 578 - Loans receivable 318,986 - - - 318,986 318,986 Total assets 16,847,889$ 10,569,355 $ 508,479 $ 1,602,384$ 29,528,107$ 23,240,179 $
LIABILITIES, FUND BALANCES AND
DEFERRED INFLOWS OF RESOURCES
Liabilities:
Accounts payable and
accrued liabilities 2,662,083$ 10,686$ - $ - $ 2,672,769$ 1,226,957$ Due to other funds 575,092 130,646 - - 705,738 766,619 Unearned revenues 277,964 - - - 277,964 114,042 Total liabilities 3,515,139 141,332 - - 3,656,471 2,107,618
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue 581,871 - - - 581,871 576,501 Fund Balances:
Nonspendable:
Endowments - - 491,455 - 491,455 491,455 Restricte
d 13,332,748 - 17,024 1,602,384 14,952,156 9,859,180 Committed - 10,558,669 - - 10,558,669 10,955,544 Unassigned (Deficit) (581,869) (130,646) - - (712,515) (750,119) Total fund balances 12,750,879 10,428,023 508,479 1,602,384 25,289,765 20,556,060 Total liabilities, fund balances and
deferred inflows of resources 16,847,889$ 10,569,355 $ 508,479 $ 1,602,384$ 29,528,107$ 23,240,179 $ Total Nonmajor
Governmental Funds
142
City of Rocklin
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
Total Total
Special Capital Total Debt
Revenue Projects Permanent Service
Funds Funds Funds Funds 2023 2022
REVENUES
Taxes and assessments 16,413,785$ 506,231$ - $ - $ 16,920,016$ 15,198,304$ License and permits 16,851 18,760 - - 35,611 129,796 Fines and forfeitures 101,111 - - - 101,111 146,969 Intergovernmental 1,258,537 - - - 1,258,537 948,885 Charges for services - 113,022 - - 113,022 606,080 Use of money and property 129,372 191,649 9,085 39,660 369,766 97,931 Contributions and donations - 883,895 - - 883,895 1,752,919 Other revenues - - - - - - Total Revenues 17,919,656 1,713,557 9,085 39,660 19,681,958 18,880,884
EXPENDITURES
Current:
General government 222,655 - - 2,605 225,260 223,131 Public safety 405,651 - - - 405,651 461,261 Public services 6,655,207 1,495,465 - - 8,150,672 7,714,930 Parks and recreation 2,344,954 67,299 - - 2,412,253 2,354,760 Community development 381,263 - - - 381,263 100,126 Capital outlay 1,502,286 64,003 - - 1,566,289 1,453,004 Debt service:
Principal - 515,009 - 771,348 1,286,357 1,326,650 Interest, fiscal charges and fees - 39,371 - 283,415 322,786 339,802 Total Expenditures 11,512,016 2,181,147 - 1,057,368 14,750,531 13,973,664 Excess (Deficiency) of
Revenues over Expenditures 6,407,640 (467,590) 9,085 (1,017,708) 4,931,427 4,907,220
OTHER FINANCING SOURCES (USES)
Settlements and recoveries 3,755,224 - - - 3,755,224 - Transfers in 19,914 1,098,000 - 531,839 1,649,753 535,195 Transfers out (4,607,403) (984,312) (10,984) - (5,602,699) (4,796,632) Total Other Financing
Sources (Uses) (832,265) 113,688 (10,984) 531,839 (197,722) (4,261,437) Net Change in Fund Balances 5,575,375 (353,902) (1,899) (485,869) 4,733,705 645,783 Fund Balances Beginning 7,175,504 10,781,925 510,378 2,088,253 20,556,060 19,910,277 Fund Balances Ending 12,750,879 $ 10,428,023 $ 508,479 $ 1,602,384 $ 25,289,765 $ 20,556,060 $ Total Nonmajor
Governmental Funds
143
Fund Title Fund Description
Gas Tax Accounts for funds received and expended for construction and street maintenance purposes as defined in Sections 2105, 2106, 2107, and 2107.5 of the California Streets and Highways Code.
SB325 Sales Tax Accounts for sales tax revenue collected in accordance with Senate Bill 325 to be used for repair and maintenance of streets.
SB1 Road Maintenance and Rehab. Act Accounts for funds received and expended for City road maintenance projects in accordance with Senate Bill 1, Chapter 5, Statutes of 2017.
Bicycle and Pedestrian Facilities Accounts for grants received for bicycle and pedestrian facility purposes.
Low Carbon Transit Operations Program Fund To provide assistance for transit agencies to reduce greenhouse gas emission and improve mobility.
Recreation Facilities Contributions Accounts for revenues received for recreation facilities construction and improvements.
Lighting Maintenance District No. 1 Accounts for funds received to maintain and operate the respective lighting district.
Landscaping and Lighting Maintenance District No. 2 Accounts for funds received to maintain and operate the respective landscaping and lighting district.
Park Development and Maintenance Tax Fund Enacted in 1998, and reenacted in 2009, to provide development, installation, servicing, maintenance, repair and operation of parks in the City of Rocklin.
Community Facilities District No. 1 Accounts for revenues to be used for respective community facilities district's operations for fire protection services.
Community Facilities District No. 5 Accounts for revenues to be used for respective community facilities district’s operations and maintenance.
Community Facilities District No. 6 Accounts for revenues to be used for respective community facilities district’s operations and maintenance.
Housing Rehabilitation Accounts for funds received for the City’s housing rehabilitation programs.
Asset Forfeiture Accounts for funds received on forfeited assets to be used for Police services.
Traffic Safety/PD Grants Accounts for funds received for traffic safety programs and police grants.
CASp Certification and Training Fund Assembly Bill 1379, effective January 1, 2018, increased the SB1186 fee charged to all business licenses to increase to $4 and required the fee to be deposited into its own fund. The City retains 90% for Certified Access Specialist program training, and remits 10% to the State.
CDBG HUD Entitlement Accounts for entitlement grants and expenditures from CDBG federal awards.
DOF CARES Act Accounts for funds received from the Federal Coronavirus Aid, Relief, and Economic Security Act through the Department of Finance to be used to respond to or mitigate COVID-19.
Grants and Other Reimbursables Accounts for grants and other reimbursable costs.
Supplemental Law Enforcement Grant Accounts for funds received to be used for public safety purposes.
Costco Settlement
Funds are to be used in accordance with the Settlement Agreement between Costco, Town of Loomis, and City of Rocklin, dated October 2022.
OPIOID Settlement Funds are for opioid remediation as allowed by Section VI(B)(2) of the Opioid Settlement Agreement and amendments between California cities and counties with Janssen Pharmaceuticals and its parent company Johnson & Johnson, and its distributors, dated July 21, 2021
between Costco, Town of Loomis, and City of Rocklin, dated October 2022.
NONMAJOR SPECIAL REVENUE FUNDS
144
City of Rocklin
Combining Balance Sheet
Special Revenue Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
SB1
Road
Bicycle and Recreation
Gas Maintenance Pedestrian Facilities
Tax & Rehab. Ac t Facilities Contributions
ASSETS
Cash and investments 664,165$ 1,991,838$ 70,000$ 2,185$ Restricted cash and investments - - - -
Receivables:
Taxes 159,761 280,252 - -
Intergovernmental - - - -
Other receivables - - - -
Prepaid items 115 - -
Loans receivable - - - -
Total assets 824,041 2,272,090 70,000 2,185
LIABILITIES, FUND BALANCES AND
DEFERRED INFLOWS OF RESOURCES
Liabilities:
Accounts payable and accrued liabilities 135,225$ 1,406,506$ 70,000$ - $ Due to other funds - - - -
Unearned revenues - - - -
Total liabilities 135,225 1,406,506 70,000 -
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue - - - -
Fund Balances:
Restricted 688,816 865,584 - 2,185 Unassigned (Deficit) - - - -
Total fund balances 688,816 865,584 - 2,185 Total liabilities, fund balances and
deferred inflows of resources 824,041$ 2,272,090$ 70,000$ 2,185$ Continued
145
City of Rocklin
Combining Balance Sheet
Special Revenue Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Cash and investments
Restricted cash and investments
Receivables:
Taxes
Intergovernmental
Other receivables
Prepaid items
Loans receivable
Total assets
LIABILITIES, FUND BALANCES AND
DEFERRED INFLOWS OF RESOURCES
Liabilities:
Accounts payable and accrued liabilities
Due to other funds
Unearned revenues
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue
Fund Balances:
Restricted
Unassigned (Deficit)
Total fund balances
Total liabilities, fund balances and
deferred inflows of resources
Landscaping
Lighting and Lighting
Maintenance Maintenance
District No. 1 District No. 2
20,112$ 1,606,768$ -$
- - -
12,616 128,721 32,658 - - -
- 1,340 -
12 119 -
- - -
32,740 1,736,948 32,658
32,740$ 176,661$ -$
- - 32,658 - 1,340 -
32,740 178,001 32,658 - - -
- 1,558,947 -
- - -
- 1,558,947 -
32,740$ 1,736,948$ 32,658$
Continued
Park Development
and Maintenance
Tax Fund
146
City of Rocklin
Combining Balance Sheet
Special Revenue Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Cash and investments
Restricted cash and investments
Receivables:
Taxes
Intergovernmental
Other receivables
Prepaid items
Loans receivable
Total assets
LIABILITIES, FUND BALANCES AND
DEFERRED INFLOWS OF RESOURCES
Liabilities:
Accounts payable and accrued liabilities
Due to other funds
Unearned revenues
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue
Fund Balances:
Restricted
Unassigned (Deficit)
Total fund balances
Total liabilities, fund balances and
deferred inflows of resources
Community Community Community
Facilities Facilities Facilities
District No. 1 District No. 5 District No. 6
-$ 4,966,465$ 311,024$ - - -
27,915 73,832 3,008 - - -
- 109 -
- 301 24
- - -
27,915 5,040,707 314,056 -$ 236,069$ 10,158$ 27,915 - -
- 109 -
27,915 236,178 10,158 - - -
- 4,804,529 303,898 - - -
- 4,804,529 303,898 27,915$ 5,040,707$ 314,056$
Continued
147
City of Rocklin
Combining Balance Sheet
Special Revenue Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Cash and investments
Restricted cash and investments
Receivables:
Taxes
Intergovernmental
Other receivables
Prepaid items
Loans receivable
Total assets
LIABILITIES, FUND BALANCES AND
DEFERRED INFLOWS OF RESOURCES
Liabilities:
Accounts payable and accrued liabilities
Due to other funds
Unearned revenues
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue
Fund Balances:
Restricted
Unassigned (Deficit)
Total fund balances
Total liabilities, fund balances and
deferred inflows of resources
Traffic
Housing Asse t Safety/PD
Rehabilitation Forfeiture Grants
368,865$ 587,626$ -$
156,556 - -
- - -
- - 120,380 - - -
- - 7
318,986 - -
844,407 587,626 120,387 -$ 162,258$ 15,698$ 800 - 60,803 - - 43,885 800 162,258 120,386 - - 111,525 843,607 425,368 -
- - (111,524) 843,607 425,368 (111,524) 844,407$ 587,626$ 120,387$
Continued
148
City of Rocklin
Combining Balance Sheet
Special Revenue Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Cash and investments
Restricted cash and investments
Receivables:
Taxes
Intergovernmental
Other receivables
Prepaid items
Loans receivable
Total assets
LIABILITIES, FUND BALANCES AND
DEFERRED INFLOWS OF RESOURCES
Liabilities:
Accounts payable and accrued liabilities
Due to other funds
Unearned revenues
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue
Fund Balances:
Restricted
Unassigned (Deficit)
Total fund balances
Total liabilities, fund balances and
deferred inflows of resources
CDBG DOF
HUD CARES
Entitlement Act
83,944$ - $ - $
- - -
- - -
- 274,606 214,455 - - -
- - -
- - -
83,944 274,606 214,455 693$ 201,620$ 214,455 $ - 72,986 -
- - -
693 274,606 214,455 - - -
83,251 - -
- - -
83,251 - -
83,944$ 274,606 $ 214,455 $ Continued
CASp Certification
and Training Fund
149
City of Rocklin
Combining Balance Sheet
Special Revenue Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Cash and investments
Restricted cash and investments
Receivables:
Taxes
Intergovernmental
Other receivables
Prepaid items
Loans receivable
Total assets
LIABILITIES, FUND BALANCES AND
DEFERRED INFLOWS OF RESOURCES
Liabilities:
Accounts payable and accrued liabilities
Due to other funds
Unearned revenues
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue
Fund Balances:
Restricted
Unassigned (Deficit)
Total fund balances
Total liabilities, fund balances and
deferred inflows of resources
Supplemental
Grants & La w
Other Enforcement Costco
Reimbursables Gran t Settlement
-$ - $ 3,755,224$ - - -
- - -
470,346 - -
- - -
- - -
- - -
470,346 - 3,755,224 -$ - $ - $
379,930 - -
90,415 - -
470,345 - -
470,346 - -
- - 3,755,224 (470,345) - -
(470,345) - 3,755,224 470,346$ - $ 3,755,224$ Continued
150
City of Rocklin
Combining Balance Sheet
Special Revenue Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Cash and investments
Restricted cash and investments
Receivables:
Taxes
Intergovernmental
Other receivables
Prepaid items
Loans receivable
Total assets
LIABILITIES, FUND BALANCES AND
DEFERRED INFLOWS OF RESOURCES
Liabilities:
Accounts payable and accrued liabilities
Due to other funds
Unearned revenues
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue
Fund Balances:
Restricted
Unassigned (Deficit)
Total fund balances
Total liabilities, fund balances and
deferred inflows of resources
OPIOID
Settlement 2023 2022
143,554$ 14,571,770$ 7,786,928$
- 156,556 155,493 - 718,763 545,667 - 1,079,787 687,607 - 1,449 1,449 - 578 -
- 318,986 318,986 143,554 16,847,889 9,496,130 -$ 2,662,083$ 1,037,083$ - 575,092 593,000 142,215 277,964 114,042
142,215 3,515,139 1,744,125 - 581,871 576,501 1,339 13,332,748 7,752,004 - (581,869) (576,500) 1,339 12,750,879 7,175,504 143,554$ 16,847,889$ 9,496,130$
Concluded
Total Special Revenue
Nonmajor Governmental Funds
151
City of Rocklin
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
SB1
Road Bicycle and Recreation
Gas Maintenance Pedestrian Facilities
Tax & Rehab. Ac t Facilities Contributions
REVENUES
Taxes and assessments 1,956,165$ 1,599,340$ - $ 500$ Licenses and permits - - - - Fines and forfeitures - - - - Intergovernmental - - 70,000 - Use of money and property 13,314 22,645 - 38 Total Revenues 1,969,479 1,621,985 70,000 538
EXPENDITURES
Current:
General governmen
t 34,742 - - - Public safety - - - - Public services 1,341,745 40,594 70,000 - Parks and recreation - - - - Community development - - - - Capital outlay 106,111 1,292,006 - - Total Expenditures 1,482,598 1,332,600 70,000 - Excess (Deficiency) of Revenues over Expenditures 486,881 289,385 - 538
OTHER FINANCING SOURCES (USES)
Settlements and recoveries - - - Transfers in - - - - Transfers out (238,992) (89,600) - - Total Other Financing Sources (Uses) (238,992) (89,600) - - Net Change in Fund Balances 247,889 199,785 - 538 Fund Balances Beginning 440,927 665,799 - 1,647 Fund Balances Ending 688,816$ 865,584$ - $ 2,185$ Continued
152
City of Rocklin
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and propert
y
Total Revenues
EXPENDITURES
Current:
General governmen
t
Public safety
Public services
Parks and recreation
Community developmen
t
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Landscaping
Lighting and Lighting
Maintenance Maintenance
District No. 1 District No. 2
252,348$ 2,591,555$ 653,165$
- - -
- - -
- - -
- 23,268 -
252,348 2,614,823 653,165
15,423 44,987 -
- - -
236,925 2,163,776 -
- - 6,532 - - -
- - -
252,348 2,208,763 6,532
- 406,060 646,633 - - -
- - -
- (335,713) (646,633) - (335,713) (646,633) - 70,347 -
- 1,488,600 -
-$ 1,558,947$ -$
Continued
Park Development
and Maintenance
Tax Fund
153
City of Rocklin
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and propert
y
Total Revenues
EXPENDITURES
Current:
General governmen
t
Public safety
Public services
Parks and recreation
Community developmen
t
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Community Community Community
Facilities Facilities Facilities
District No. 1 District No. 5 District No. 6
2,268,807$ 6,737,296$ 354,609$
- - -
- - -
- - -
- 62,454 4,978 2,268,807 6,799,750 359,587
- 116,366 8,505 22,660 - -
- 2,330,447 289,390 - 2,338,422 -
- - -
- - -
22,660 4,785,235 297,895 2,246,147 2,014,515 61,692
- - -
- 8,472 -
(2,246,147) (757,409) (44,777) (2,246,147) (748,937) (44,777) - 1,265,578 16,915 - 3,538,951 286,983 -$ 4,804,529$ 303,898$ Continued
154
City of Rocklin
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and propert
y
Total Revenues
EXPENDITURES
Current:
General governmen
t
Public safety
Public services
Parks and recreation
Community developmen
t
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Traffic
Housing Asse t Safety/PD
Rehabilitation Forfeiture Grants
-$ -$ -$
- - -
- 101,111 -
- - 326,634 1,063 273 -
1,063 101,384 326,634 800 - -
- 94,537 288,454 - - -
- - -
- - -
- - 30,455 800 94,537 318,909 263 6,847 7,725 - - -
- - 11,442 - - (1,069) - - 10,373 263 6,847 18,098 843,344 418,521 (129,622) 843,607$ 425,368$ (111,524)$ Continued
155
City of Rocklin
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and propert
y
Total Revenues
EXPENDITURES
Current:
General governmen
t
Public safety
Public services
Parks and recreation
Community developmen
t
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
CDBG DOF
HUD CARES
Entitlement Act
-$ - $ - $
16,851 - -
- - -
- 281,972 338,611 - - -
16,851 281,972 338,611 832 1,000 -
- - -
- 182,330 -
- - -
- 42,652 338,611 - - -
832 225,982 338,611 16,019 55,990 -
- - -
- - -
- (55,990) -
- (55,990) -
16,019 - -
67,232 - -
83,251$ -$ -$
Continued
CASp Certification
and Training Fund
156
City of Rocklin
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and propert
y
Total Revenues
EXPENDITURES
Current:
General governmen
t
Public safety
Public services
Parks and recreation
Community developmen
t
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Supplemental
Grants & La w
Other Enforcement Costco
Reimbursables Gran t Settlement
-$ - $ - $
- - -
- - -
60,173 181,147 -
- - -
60,173 181,147 -
- - -
- - -
- - -
- - -
- - -
73,714 - -
73,714 - -
(13,541) 181,147 -
- - 3,755,224 - - -
(9,926) (181,147) -
(9,926) (181,147) 3,755,224 (23,467) - 3,755,224 (446,878) - -
(470,345)$ -$ 3,755,224$ Continued
157
City of Rocklin
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and propert
y
Total Revenues
EXPENDITURES
Current:
General governmen
t
Public safety
Public services
Parks and recreation
Community developmen
t
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
OPIOD
Settlement 2023 2022
-$ 16,413,785$ 14,911,889$ - 16,851 16,043 - 101,111 146,969 - 1,258,537 948,885 1,339 129,372 30,238
1,339 17,919,656 16,054,024 - 222,655 207,902 - 405,651 461,261 - 6,655,207 7,495,262 - 2,344,954 2,289,889 - 381,263 100,126 - 1,502,286 1,453,004 - 11,512,016 12,007,444 1,339 6,407,640 4,046,580 - 3,755,224 -
- 19,914 4,277 - (4,607,403) (4,215,040) - (832,265) (4,210,763) 1,339 5,575,375 (164,183) - 7,175,504 7,339,687 1,339$ 12,750,879$ 7,175,504$ Concluded
Total Special Revenue
Nonmajor Governmental Funds
158
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes and assessments 2,063,900 $ 2,063,900 $ 1,956,165$ (107,735)$ Licenses and permits - - - - Fines and forfeitures - - - - Intergovernmental - - - - Use of money and property 1,700 1,700 13,314 11,614 Total Revenues 2,065,600 2,065,600 1,969,479 (96,121)
EXPENDITURES
Current:
General government 38,900 38,900 34,742 4,158 Public safety - - - - Public services 1,636,700 1,636,700 1,341,745 294,955 Parks and recreation - - - - Community development - - - - Capital outlay 453,300 453,300 106,111 347,189 Total Expenditures 2,128,900 2,128,900 1,482,598 646,302 Excess (Deficiency) of Revenues over Expenditures (63,300) (63,300) 486,881 550,181
OTHER FINANCING SOURCES (USES)
Settlements and recoveries - - - - Transfers in - - - - Transfers out (323,300) (323,300) (238,992) 84,308 Total Other Financing Sources (Uses) (323,300) (323,300) (238,992) 84,308 Net Change in Fund Balances (386,600) (386,600) 247,889 634,489
Fund Balances Beginning 440,927 440,927 440,927 - Fund Balances Ending 54,327$ 54,327$ 688,816$ 634,489$ Continued
Budgeted Amounts
Gas Tax
159
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
1,606,300$ 1,606,300 $ 1,599,340$ (6,960)$
- - - - - - - - - - - - 1,100 1,100 22,645 21,545 1,607,400 1,607,400 1,621,985 14,585
- - - - - - - - - 51,100 40,594 10,506 - - - - - - - - 500,000 1,654,400 1,292,006 362,394 500,000 1,705,500 1,332,600 372,900 1,107,400 (98,100) 289,385 387,485 - - - - - - - - (32,800) (32,800) (89,600) (56,800) (32,800) (32,800) (89,600) (56,800) 1,074,600 (130,900) 199,785 330,685 665,799 665,799 665,799 -
1,740,399$ 534,899$ 865,584$ 330,685$ Continued
SB1 Road Maintenance & Rehab. Act
Budgeted Amounts
160
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ - $ - $ - - - - - - - - 70,000 70,000 70,000 -
- - - - 70,000 70,000 70,000 - - - - - - - - - 70,000 70,000 70,000 -
- - - - - - - - - - - - 70,000 70,000 70,000 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - $ -$
- $ - $
Continued
Bicycle and Pedestrian Facilities
Budgeted Amounts
161
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ 500$ 500$ - - - - - - - - - - - - - - 38 38 - - 538 538 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 538 538 - - - - - - - - - - - - - - - - - - 538 538 1,647 1,647 1,647 - 1,647$
1,647$ 2,185$ 538$
Continued
Recreation Facilities Contributions
Budgeted Amounts
162
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
249,000$ 249,000 $ 252,348$ 3,348$ - - - - - - - - - - - - - - - - 249,000 249,000 252,348 3,348 17,800 17,800 15,423 2,377 - - - - 226,300 226,300 236,925 (10,625) - - - - - - - - 2,600 2,600 - 2,600 246,700 246,700 252,348 (5,648) 2,300 2,300 - (2,300) - - - - - - - - (2,300) (2,300) - 2,300 (2,300) (2,300) - 2,300 - - - - - - - - - $ - $ - $ - $ Continued
Lighting Maintenance District No. 1
Budgeted Amounts
163
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
2,563,000$ 2,563,000 $ 2,591,555$ 28,555$
- - - - - - - - - - - - 4,600 4,600 23,268 18,668 2,567,600 2,567,600 2,614,823 47,223
47,400 47,400 44,987 2,413 - - - - 2,349,600 2,349,600 2,163,776 185,824 - - - - - - - - 29,200 29,200 - 29,200 2,426,200 2,426,200 2,208,763 217,437 141,400 141,400 406,060 264,660 - - - - - - - - (335,600) (335,600) (335,713) (113) (335,600) (335,600) (335,713) (113) (194,200) (194,200) 70,347 264,547 1,488,600 1,488,600 1,488,600 -
1,294,400$
1,294,400$ 1,558,947$ 264,547$
Continued
Budgeted Amounts
Landscaping and Lighting Maintenance District No. 2
164
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
645,400$ 645,400 $ 653,165$ 7,765$ - - - - - - - - - - - - - - - - 645,400 645,400 653,165 7,765 - - - - - - - - - - - - 6,500 6,500 6,532 (32) - - - - - - - - 6,500 6,500 6,532 (32) 638,900 638,900 646,633 7,733 - - - - - - - - (638,900) (638,900) (646,633) (7,733) (638,900) (638,900) (646,633) (7,733) - - - - - - - - - $ - $ - $ - $ Continued
Park Development and Maintenance Tax Fund
Budgeted Amounts
165
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
2,195,800$ 2,195,800 $ 2,268,807$ 73,007$
- - - - - - - - - - - - - - - - 2,195,800 2,195,800 2,268,807 73,007
- - - - 22,000 22,000 22,660 (660) - - - - - - - - - - - - - - - - 22,000 22,000 22,660 (660) 2,173,800 2,173,800 2,246,147 72,347
- - - - - - - - (2,173,800) (2,173,800) (2,246,147) (72,347) (2,173,800) (2,173,800) (2,246,147) (72,347) - - - - - - - - - $ - $ - $ - $ Continued
Community Facilities District No. 1
Budgeted Amounts
166
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
6,457,800$ 6,457,800 $ 6,737,296$ 279,496$
- - - - - - - - - - - - 24,700 24,700 62,454 37,754 6,482,500 6,482,500 6,799,750 317,250 119,900 119,900 116,366 3,534 - - - - 2,612,200 2,612,200 2,330,447 281,753 2,464,600 2,464,600 2,338,422 126,178 - - - - 57,200 94,700 - 94,700 5,253,900 5,291,400 4,785,235 506,165 1,228,600 1,191,100 2,014,515 823,415 - - - - 1,200 1,200 8,472 7,272 (761,300) (761,300) (757,409) 3,891 (760,100) (760,100) (748,937) 11,163 468,500 431,000 1,265,578 834,578 3,538,951 3,538,951 3,538,951 -
4,007,451$
3,969,951$ 4,804,529$ 834,578$
Continued
Budgeted Amounts
Community Facilities District No. 5
167
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
351,800$ 351,800 $ 354,609$ 2,809$ - - - - - - - - - - - - 600 600 4,978 4,378 352,400 352,400 359,587 7,187 10,000 10,000 8,505 1,495 - - - - 351,200 351,200 289,390 61,810 - - - - - - - - 3,800 3,800 - 3,800 365,000 365,000 297,895 67,105 (12,600) (12,600) 61,692 74,292 - - - - - - - - (50,500) (50,500) (44,777) 5,723 (50,500) (50,500) (44,777) 5,723 (63,100) (63,100) 16,915 80,015 286,983 286,983 286,983 -
223,883$
223,883$ 303,898$ 80,015$
Continued
Budgeted Amounts
Community Facilities District No. 6
168
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ - $ - $ - - - - - - - - - - - - - - 1,063 1,063 - - 1,063 1,063 - - 800 (800) - - - - - - - - - - - - - - - - - - - - - - 800 (800) - - 263 263 - - - - - - - - - - - - - - - - - - 263 263 843,344 843,344 843,344 -
843,344$
843,344$ 843,607$ 263$
Continued
Budgeted Amounts
Housing Rehabilitation
169
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ - $ - $ - - - - 100,000 100,000 101,111 1,111 - - - - 1,500 1,500 273 (1,227) 101,500 101,500 101,384 (116) - - - - 15,000 109,700 94,537 15,163 - - - - - - - - - - - - - - - - 15,000 109,700 94,537 15,163 86,500 (8,200) 6,847 15,047 - - - - - - - - - - - - - - - - 86,500 (8,200) 6,847 15,047 418,521 418,521 418,521 -
505,021$
410,321$ 425,368$ 15,047$
Continued
Asset Forfeiture
Budgeted Amounts
170
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ - $ - $ - - - - - - - - 244,500 383,400 326,634 (56,766) - - - - 244,500 383,400 326,634 (56,766) - - - - 256,100 367,500 288,454 79,046 - - - - - - - - - - - - - 27,500 30,455 (2,955) 256,100 395,000 318,909 76,091 (11,600) (11,600) 7,725 19,325 - - - - 11,600 11,600 11,442 (158)
- - (1,069) (1,069) 11,600 11,600 10,373 (1,227) - - 18,098 18,098 (129,622) (129,622) (129,622) - (129,622)$ (129,622)$ (111,524)$ 18,098$
Continued
Traffic Safety/PD Grants
Budgeted Amounts
171
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ - $ - $ - - 16,851 16,851 - - - - - - - - - - - - - - 16,851 16,851 - - 832 (832) - - - - - - - - - - - - - - - - - - - - - - 832 (832) - - 16,019 16,019 - - - - - - - - - - - - - - - - - - 16,019 16,019 67,232 67,232 67,232 - 67,232$
67,232$ 83,251$ 16,019$
Continued
CASp Certification and Training Fund
Budgeted Amounts
172
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ - $ - $ - - - - - - - - 284,200 284,200 281,972 (2,228) - - - - 284,200 284,200 281,972 (2,228) 1,000 1,000 1,000 - - - - - 184,800 184,800 182,330 2,470 - - - - 42,600 42,600 42,652 (52) - - - - 228,400 228,400 225,982 2,418 55,800 55,800 55,990 190 - - - - - - - - (55,800) (55,800) (55,990) (190) (55,800) (55,800) (55,990) (190) - - - - - - - - - $ - $ - $ - $ Continued
Budgeted Amounts
CDBG HUD Entitlement
173
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ - $ - $ - - - - - - - - 229,300 405,800 338,611 (67,189) - - - - 229,300 405,800 338,611 (67,189) - - - - - - - - - - - - - - - - 229,300 405,800 338,611 67,189 - - - - 229,300 405,800 338,611 67,189 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - $ - $ - $ - $ Continued
Budgeted Amounts
DOF CARES Act
174
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ - $ - $ - - - - - - - - 100,300 591,000 60,173 (530,827) - - - - 100,300 591,000 60,173 (530,827) - - - - - - - - - - - - - - - - - - - - - 43,900 73,714 (29,814) - 43,900 73,714 (29,814) 100,300 547,100 (13,541) (560,641) - - - - - - - - (100,300) (100,300) (9,926) 90,374 (100,300) (100,300) (9,926) 90,374 - 446,800 (23,467) (470,267) (446,878) (446,878) (446,878) - (446,878)$
(78)$ (470,345)$ (470,267)$
Continued
Grants & Other Reimbursable
Budgeted Amounts
175
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ - $ - $ - - - - - - - - 183,800 183,800 181,147 (2,653) - - - - 183,800 183,800 181,147 (2,653) - - - - - - - - - - - - - - - - - - - - - - - - - - - - 183,800 183,800 181,147 (2,653) - - - - - - - - (183,800) (183,800) (181,147) 2,653 (183,800) (183,800) (181,147) 2,653 - - - - - - - - - $ - $ - $ - $ Budgeted Amounts
Supplemental Law Enforcement Grant
176
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ - $ - $ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3,755,224 3,755,224 - - - - - - - - - - 3,755,224 3,755,224 - - 3,755,224 3,755,224 - - - - - $ - $ 3,755,224$ 3,755,224$ Costco Settlement
Budgeted Amounts
177
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Special Revenue Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Fines and forfeitures
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Settlements and recoveries
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
- $ - $ - $ - $ - - - - - - - - - - - - - - 1,339 1,339 - - 1,339 1,339 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,339 1,339 - - - - - - - - - - - - - - - - - - 1,339 1,339 - - - - - $ - $ 1,339$ 1,339$ Concluded
OPIOID Settlement
Budgeted Amounts
178
Page Intentionally Left Blank
179
Fund Title Fund Description
Park Development Fees Accounts for funds expended on City park projects and improvements.
Community Park Fees Accounts for funds collected and expended for City park land and improvements.
Capital Construction Tax Accounts for the capital construction tax that is used for the expansion of facilities to serve new developments within the City.
Oak Tree Mitigation Fees Accounts for funds collected for Oak Tree preservation activities including land acquisition and oak tree planting, acquisition, and maintenance.
Whitney Ranch Trunk Sewer Project Accounts for impact fees to fund the sewer trunk line upgrade.
North West Rocklin Community Park Fee Developers in the North West Rocklin area are required to pay impact fees, which can only be used to fund community parks in the North West Rocklin area (Whitney Ranch Park).
Public Facilities Impact Fees This fund accounts for impact fees used to fund expansion of public facilities to serve new development within the City.
Rocklin Public Financing Authority Capital Projects Accounts for Rocklin Public Financing Authority capital projects funded by bond proceeds.
Trails Impact Fees This fund accounts for impact fees used to construct additional trails to reduce the impacts caused by new development within the City.
Community Center Impact Fee This fund accounts for impact fees used for new or additions to existing community recreation center facilities.
Whitney Ranch Interchange Fees This fund accounts for impact fees used to develop Highway 65 interchanges in the Whitney Ranch area.
NONMAJOR CAPITAL PROJECTS FUNDS
180
City of Rocklin
Combining Balance Sheet
Capital Projects Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
Park Community Capital Oak Tree
Development Park Construction Mitigation
Fees Fees Tax Fees
ASSETS
Cash and investments 844,167$ -$ 6,075,704$ 139,998$ Total assets 844,167$ -$ 6,075,704$ 139,998$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable and accrued liabilities -$ -$ -$ 10,686$ Due to other funds - 130,646 - - Total liabilities - 130,646 - 10,686 Fund Balances:
Committed 844,167 - 6,075,704 129,312 Unassigned (Deficit) - (130,646) - - Total fund balances 844,167 (130,646) 6,075,704 129,312 Total liabilities and fund balances 844,167$ -$ 6,075,704$ 139,998$ Continued
181
City of Rocklin
Combining Balance Sheet
Capital Projects Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Cash and investments
Total assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable and accrued liabilities
Due to other funds
Total liabilities
Fund Balances:
Committed
Unassigned (Deficit)
Total fund balances
Total liabilities and fund balances
Whitney
Ranch Trunk
Sewer
Project
-$ 964,797$ 1,021,684$ 853$ -$ 964,797$ 1,021,684$ 853$ -$ -$ -$ -$ - - - - - - - - - 964,797 1,021,684 853 - - - - - 964,797 1,021,684 853 -$ 964,797$ 1,021,684$ 853$ Continued
North West
Rocklin
Community Park
Fees
Public Facilities
Impact Fees
Trail
Impact Fees
182
City of Rocklin
Combining Balance Sheet
Capital Projects Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Cash and investments
Total assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable and accrued liabilities
Due to other funds
Total liabilities
Fund Balances:
Committed
Unassigned (Deficit)
Total fund balances
Total liabilities and fund balances
2023 2022
3,703$ 1,518,449$ 10,569,355$ 11,145,418$ 3,703$ 1,518,449$ 10,569,355$ 11,145,418$ -$ -$ 10,686$ 189,874$ - - 130,646 173,619 - - 141,332 363,493 3,703 1,518,449 10,558,669 10,955,544 - - (130,646) (173,619) 3,703 1,518,449 10,428,023 10,781,925 3,703$ 1,518,449$ 10,569,355$ 11,145,418$ Concluded
Total Capital Projects
Nonmajor Governmental FundsWhitney Ranch
Interchange
Fees
Community
Center Impact
Fees
183
City of Rocklin
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
Park Community Capital Oak Tree
Development Park Construction Mitigation
Fees Fees Tax Fees
REVENUES
Taxes and assessments 337,314$ 120,820$ -$ 48,097$ Licenses and permits - - - - Charges for services - - - - Use of money and property 14,107 - 107,606 5,892 Contributions and donations - - 883,895 - Total Revenues 351,421 120,820 991,501 53,989
EXPENDITURES
Current:
General government - - - - Public services - - - 75,383 Parks and recreation - - - 67,299 Capital outlay 44,488 - - - Debt service:
Principal 209,561 65,454 - 239,994 Interest and fiscal charges 8,375 5,555 - 9,591 Total Ex
penditures 262,424 71,009 - 392,267 Excess (Deficiency) of Revenues over Expenditures 88,997 49,811 991,501 (338,278)
OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out (6,464) (6,838) (531,840) (23,449) Total Other Financing Sources (Uses) (6,464) (6,838) (531,840) (23,449) Net Change in Fund Balances 82,533 42,973 459,661 (361,727) Fund Balances Beginning 761,634 (173,619) 5,616,043 491,039 Fund Balances Ending 844,167 $ (130,646) $ 6,075,704 $ 129,312 $ Continued
184
City of Rocklin
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
REVENUES
Taxes and assessments
Licenses and permits
Charges for services
Use of money and propert
y
Contributions and donations
Total Revenues
EXPENDITURES
Current:
General government
Public services
Parks and recreation
Capital outlay
Debt service:
Principal
Interest and fiscal charges
Total Ex
penditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financin
g Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Whitney
Ranch Trunk
Sewer
Project
-$ - $ - $ - $ 18,760 - - - - 10,290 54,640 852 - 17,865 18,760 1 - - - - 18,760 28,155 73,400 853 - - - - 1,323,282 - 96,800 - - - - - - 19,515 - -
- - - - 15,850 - - -
1,339,132 19,515 96,800 - (1,320,372) 8,640 (23,400) 853 1,098,000 - - - (398,564) - (17,157) - 699,436 - (17,157) - (620,936) 8,640 (40,557) 853 620,936 956,157 1,062,241 - -$ 964,797$ 1,021,684 $ 853 $ Continued
North West
Rocklin
Community Park
Fees
Public Facilities
Impact Fees
Trail
Impact Fees
185
City of Rocklin
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
REVENUES
Taxes and assessments
Licenses and permits
Charges for services
Use of money and propert
y
Contributions and donations
Total Revenues
EXPENDITURES
Current:
General government
Public services
Parks and recreation
Capital outlay
Debt service:
Principal
Interest and fiscal charges
Total Ex
penditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financin
g Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
2023 2022
-$ - $ 506,231$ 286,415 $ - - 18,760 113,753 3,700 43,540 113,022 606,080
3 27,415 191,649 25,008
- - 883,895 1,752,919 3,703 70,955 1,713,557 2,784,175 - - - 12,659 - - 1,495,465 219,668 - - 67,299 64,871 - - 64,003 - - - 515,009 504,938 - - 39,371 31,094 - - 2,181,147 833,230 3,703 70,955 (467,590) 1,950,945 - - 1,098,000 - - - (984,312) (578,031) - - 113,688 (578,031) 3,703 70,955 (353,902) 1,372,914 - 1,447,494 10,781,925 9,409,011 3,703$ 1,518,449$ 10,428,023 $ 10,781,925 $ Concluded
Total Capital Projects
Nonmajor Governmental Funds
Whitney Ranch
Interchange Fees
Community
Center Impact
Fees
186
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes and assessments 703,100 $ 703,100 $ 337,314 $ (365,786)$ Licenses and permits - - - - Intergovernmental revenues 43,000 43,000 - (43,000) Charges for services - - - - Use of money and property 2,200 2,200 14,107 11,907 Contributions and donations - - - - Other revenues - - - - Total Revenues 748,300 748,300 351,421 (396,879)
EXPENDITURES
Current:
General government - - - - Public safety - - - - Public services - - - - Parks and recreation 43,000 43,000 - 43,000 Capital outlay - 44,000 44,488 (488) Debt service:
Principal 209,600 209,600 209,561 39 Interest and fiscal charges 8,400 8,400 8,375 25 Total Expenditures 261,000 305,000 262,424 42,576 Excess (Deficiency) of Revenues over Expenditures 487,300 443,300 88,997 (354,303)
OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out - - (6,464) (6,464)
Total Other Financing Sources (Uses) - - (6,464) (6,464) Net Change in Fund Balances 487,300 443,300 82,533 (360,767) Fund Balances Beginning 761,634 761,634 761,634 - Fund Balances Ending 1,248,934$ 1,204,934$ 844,167$ (360,767)$ Continued
Park Development Fees
Budgeted Amounts
187
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Intergovernmental revenues
Charges for services
Use of money and property
Contributions and donations
Other revenues
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service:
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
186,500$ 186,500 $ 120,820 $ (65,680) $ - - - - - - - - - - - - - - - - - - - - - - - - 186,500 186,500 120,820 (65,680) - - - - - - - - - - - - - - - - - - - -
65,500 65,500 65,454 46 2,700 2,700 5,555 (2,855) 68,200 68,200 71,009 (2,809) 118,300 118,300 49,811 (68,489) - - - - (12,500) (12,500) (6,838) 5,662 (12,500) (12,500) (6,838) 5,662 105,800
105,800 42,973 (62,827)
(173,619) (173,619) (173,619) - (67,819)$ (67,819)$ (130,646)$ (62,827)$ Continued
Community Park Fees
Budgeted Amounts
188
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Intergovernmental revenues
Charges for services
Use of money and property
Contributions and donations
Other revenues
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service:
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ - $ - $ - $ - - - - - - - - - - - - 11,500 11,500 107,606 96,106 1,946,800 1,946,800 883,895 (1,062,905) - - - - 1,958,300 1,958,300 991,501 (966,799) - - - - - 15,000 - 15,000 - - - - - - - - 136,300 136,300 - 136,300
- - - - - - - - 136,300 151,300 - 151,300 1,822,000 1,807,000 991,501 (815,499) - - - - (532,400) (532,400) (531,840) 560 (532,400) (532,400) (531,840) 560 1,289,600
1,274,600 459,661 (814,939)
5,616,043 5,616,043 5,616,043 - 6,905,643$ 6,890,643$ 6,075,704$ (814,939)$ Continued
Capital Construction Tax
Budgeted Amounts
189
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Intergovernmental revenues
Charges for services
Use of money and property
Contributions and donations
Other revenues
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service:
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
250,000$ 250,000 $ 48,097 $ (201,903)$ - - - - - - - - - - - - 1,800 1,800 5,892 4,092 - - - - - - - - 251,800 251,800 53,989 (197,811) - - - - - - - - 79,000 79,000 75,383 3,617 74,000 74,000 67,299 6,701 - - - -
240,000 240,000 239,994 6 9,600 9,600 9,591 9 402,600 402,600 392,267 10,333 (150,800) (150,800) (338,278) (187,478) - - - - (11,100) (11,100) (23,449) (12,349) (11,100) (11,100) (23,449) (12,349) (161,900)
(161,900) (361,727) (199,827)
491,039 491,039 491,039 - 329,139$ 329,139$ 129,312$ (199,827)$ Continued
Oak Tree Mitigation Fees
Budgeted Amounts
190
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Intergovernmental revenues
Charges for services
Use of money and property
Contributions and donations
Other revenues
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service:
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ - $ - $ - $ 93,000 93,000 18,760 (74,240) - - - - - - - - 300 300 - (300) - - - - - - - - 93,300 93,300 18,760 (74,540) - - - - - - - - - 1,750,100 1,323,282 426,818 - - - - - - - -
- - - - - - 15,850 (15,850) - 1,750,100 1,339,132 410,968 93,300 (1,656,800) (1,320,372) 336,428 - 1,098,000 1,098,000 -
- - (398,564) (398,564) - 1,098,000 699,436 (398,564) 93,300 (558,800) (620,936)
(62,136)
620,936 620,936 620,936 - 714,236$ 62,136$ -$ (62,136)$ Continued
Budgeted Amounts
Whitney Ranch Trunk Sewer Project
191
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Intergovernmental revenues
Charges for services
Use of money and property
Contributions and donations
Other revenues
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service:
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ - $ - $ - $ - - - - - - - - 470,500 470,500 10,290 (460,210) 3,600 3,600 17,865 14,265 - - - - - - - - 474,100 474,100 28,155 (445,945) - - - - - - - - - - - - - - - - 920,000 920,000 19,515 900,485
- - - - - - - - 920,000 920,000 19,515 900,485 (445,900) (445,900) 8,640 454,540 - - - - - - - - - - - - (445,900) (445,900) 8,640
454,540
956,157 956,157 956,157 - 510,257$ 510,257$ 964,797$ 454,540$ Continued
Budgeted Amounts
North West Rocklin Community Park Fees
192
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Intergovernmental revenues
Charges for services
Use of money and property
Contributions and donations
Other revenues
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service:
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ - $ - $ - $ - - - - - - - - 216,300 216,300 54,640 (161,660) 2,600 2,600 18,760 16,160 - - - - - - - - 218,900 218,900 73,400 (145,500) - - - - - - - - - 111,300 96,800 14,500 - - - - - - - -
- - - - - - - - - 111,300 96,800 14,500 218,900 107,600 (23,400) (131,000) - - - - (10,200) (10,200) (17,157) (6,957) (10,200) (10,200) (17,157) (6,957) 208,700
97,400 (40,557) (137,957)
1,062,241 1,062,241 1,062,241 - 1,270,941$ 1,159,641$ 1,021,684$ (137,957)$ Continued
Budgeted Amounts
Public Facilities Impact Fees
193
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Intergovernmental revenues
Charges for services
Use of money and property
Contributions and donations
Other revenues
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service:
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ - $ - $ - $ - - - - - - - - - - 852 852 - - 1 1 - - - - - - - - - - 853 853 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 853 853 - - - - - - - - - - - - - -
853 853
- - - - -$ -$ 853$ 853$ Continued
Budgeted Amounts
Trail Impact Fees
194
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Intergovernmental revenues
Charges for services
Use of money and property
Contributions and donations
Other revenues
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service:
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ - $ - $ - $ - - - - - - - - - - 3,700 3,700 - - 3 3 - - - - - - - - - - 3,703 3,703 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3,703 3,703 - - - - - - - - - - - - - -
3,703 3,703
- - - - -$ -$ 3,703$ 3,703$ Continued
Community Center Impact Fees
Budgeted Amounts
195
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Capital Projects Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Taxes and assessments
Licenses and permits
Intergovernmental revenues
Charges for services
Use of money and property
Contributions and donations
Other revenues
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service:
Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ - $ - $ - $ - - - - - - - - 190,800 190,800 43,540 (147,260) 4,400 4,400 27,415 23,015 - - - - - - - - 195,200 195,200 70,955 (124,245) - - - - - - - - - - - - - - - - - - - -
- - - - - - - - - - - - 195,200 195,200 70,955 (124,245) - - - - - - - - - - - - 195,200
195,200 70,955 (124,245)
1,447,494 1,447,494 1,447,494 - 1,642,694$ 1,642,694$ 1,518,449$ (124,245)$ Concluded
Whitney Ranch Interchange Fees
Budgeted Amounts
196
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis) - Capital Projects Major Governmental Fund Traffic Circulation Impact Fee Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amount s (Negative)
REVENUES
Taxes and assessments 2,414,200$ 2,414,200$ 675,895$ (1,738,305)$ Intergovernmental revenues 502,500 502,500 502,511 11 Use of money and property 72,000 72,000 301,608 229,608 Total Revenues 2,988,700 2,988,700 1,480,014 (1,508,686)
EXPENDITURES
Current:
Community developmen
t 427,700 427,700 1,307 426,393
Capital outlay 30,000 30,000 805 29,195
Total Expenditures 457,700 457,700 2,112 455,588 Excess (Deficiency) of Revenues over Expenditures 2,531,000 2,531,000 1,477,902 (1,053,098)
OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out (114,900) (114,900) (38,563) 76,337 Total Other Financing Sources (Uses) (114,900) (114,900) (38,563) 76,337 Net Change in Fund Balances 2,416,100 2,416,100 1,439,339 (976,761) Fund Balances Beginning 15,979,920 15,979,920 15,979,920 - Fund Balances Ending 18,396,020$ 18,396,020$ 17,419,259$ (976,761) $
Budgeted Amounts
197
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis) - Capital Projects Major Governmental Fund Community Facilities District No. 10 Projects
For the Year Ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amount s (Negative)
REVENUES
Use of money and property - $ - $ 87,968$ 87,968$ Contributions from Community Facilities Districts - - - - Contributions and donations - - - - Other revenues - - 8,238 8,238 Total Revenues - - 96,206 96,206
EXPENDITURES
Current:
Capital outla
y - - 13,096,206 (13,096,206) Total Expenditures - - 13,096,206 (13,096,206) Excess (Deficiency) of Revenues over Expenditures - - (13,000,000) (13,000,000)
OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out - - - - Total Other Financing Sources (Uses) - - - - Net Change in Fund Balances - - (13,000,000) (13,000,000) Fund Balances Beginning - - 13,000,000 13,000,000 Fund Balances Ending - $ - $ -$ -$
Budgeted Amounts
198
Page Intentionally Left Blank
199
Fund Title Fund Description
Wetlands Maintenance Accounts for a $38,000 required endowment from which the income will fund ongoing maintenance of the wetlands on a single lot parcel in Stanford Ranch Phase III.
Conservation Easement Endowment Accounts for a $453,455 required endowment from which the income will fund initial Preserve Area maintenance and operations.
NONMAJOR PERMANENT FUNDS
200
City of Rocklin
Combining Balance Sheet
Permanent Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
Conservatio n
Wetlands Easemen t
Maintenance Endowmen t 2023 2022
ASSETS
Restricted cash and investments 55,024$ 453,455$ 508,479$ 510,378$ Total assets 55,024$ 453,455$ 508,479$ 510,378$
FUND BALANCES
Nonspendable endowments 38,000$ 453,455$ 491,455$ 491,455$ Restricted 17,024 - 17,024 18,923 Total fund balances 55,024$ 453,455$ 508,479$ 510,378$ Total Permanent
Nonmajor
Governmental Funds
201
City of Rocklin
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Permanent Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
Conservatio n
Wetlands Easemen t
Maintenance Endowmen t 2023 2022
REVENUES
Use of money and property 613$ 8,472 $ 9,085 $ (7,851) $ Total Revenues 613 8,472 9,085 (7,851)
EXPENDITURES
Total Expenditures - - - - Excess (Deficiency) of Revenues over Expenditures 613 8,472 9,085 (7,851)
OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out (2,512) (8,472) (10,984) (3,561) Total Other Financing Sources (Uses) (2,512) (8,472) (10,984) (3,561) Net Change in Fund Balances (1,899) - (1,899) (11,412) Fund Balances Beginning 56,923 453,455 510,378 521,790 Fund Balances Ending 55,024$ 453,455$ 508,479$ 510,378$ Nonmajor
Governmental Funds
Total Permanent
202
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Permanent Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amount s (Negative)
REVENUES
Use of money and property 1,600$ 1,600$ 613$ (987)$ Total Revenues 1,600 1,600 613 (987)
EXPENDITURES
Total Expenditures - - - - Excess (Deficiency) of Revenues over Expenditures 1,600 1,600 613 (987)
OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out (2,500) (2,500) (2,512) (12) Total Other Financing Sources (Uses) (2,500) (2,500) (2,512) (12) Net Change in Fund Balances (900) (900) (1,899) (999) Fund Balances Beginning 56,923 56,923 56,923 - Fund Balances Ending 56,023 $ 56,023 $ 55,024 $ (999) $ Continued
Budgeted Amounts
Wetlands Maintenance
203
City of Rocklin
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Permanent Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Use of money and propert
y
Total Revenues
EXPENDITURES
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amount s (Negative)
1,200$ 1,200$ 8,472$ 7,272$ 1,200 1,200 8,472 7,272 - - - - 1,200 1,200 8,472 7,272 - - - - (1,200) (1,200) (8,472) (7,272) (1,200) (1,200) (8,472) (7,272) - - - - 453,455 453,455 453,455 -
453,455$ 453,455$ 453,455$ - $
Concluded
Budgeted Amounts
Conservation Easement Endowment
204
Page Intentionally Left Blank
205
Fund Title Fund Description
Capital Construction Debt Service Fund Accounts for the debt service related to City capital projects.
Rocklin Public Financing Authority Debt Service Fund Accounts for the debt service of the Rocklin Public Financing Authority.
NONMAJOR DEBT SERVICE FUNDS
206
City of Rocklin
Combining Balance Sheet
Debt Service Nonmajor Governmental Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
Rocklin
Public
Capital Financin g
Construction Authority
Debt Service Debt Service
Fund Fund 2023 2022
ASSETS
Cash and investments -$ 7,200 $ 7,200 $ 7,068 $ Restricted cash and investments 185 1,594,999 1,595,184 2,081,185 Total assets 185$ 1,602,199$ 1,602,384$ 2,088,253$
FUND BALANCES
Restricted 185$ 1,602,199$ 1,602,384$ 2,088,253$ Total fund balances 185$ 1,602,199$ 1,602,384$ 2,088,253$ Total
Debt Service Funds
207
City of Rocklin
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Debt Service Nonmajor Governmental Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
Rocklin
Public
Capital Financin g
Construction Authority
Debt Service Debt Service
Fund Fund 2023 2022
REVENUES
Use of money and property 420$ 39,240$ 39,660 $ 50,536 $ Total Revenues 420 39,240 39,660 50,536
EXPENDITURES
Current:
General governmen
t 2,605 - 2,605 2,570 Debt service:
Principal 285,000 486,348 771,348 821,712 Interest, fiscal charges and fees 244,475 38,940 283,415 308,708 Total Expenditures 532,080 525,288 1,057,368 1,132,990 Excess (Deficiency) of
Revenues over Expenditures (531,660) (486,048) (1,017,708) (1,082,454)
OTHER FINANCING SOURCES (USES)
Transfers in 531,839 - 531,839 530,918 Transfers out - - - - Total Other Financing Sources (Uses) 531,839 - 531,839 530,918 Net Change in Fund Balances 179 (486,048) (485,869) (551,536) Fund Balances Beginning 6 2,088,247 2,088,253 2,639,789 Fund Balances Ending 185 $ 1,602,199$ 1,602,384 $ 2,088,253 $ Total
Debt Service Funds
208
City of Rocklin
Schedule of Revenues, Expenditures, and
and Changes in Fund Balances
Budget and Actual (GAAP Basis)
Debt Service Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amount s (Negative)
REVENUES
Use of money and property - $ - $ 420$ 420$ Total Revenues - - 420 420
EXPENDITURES
Current:
General government - - 2,605 (2,605) Debt service:
Principal retirement 285,000 285,000 285,000 - Interest and fiscal charges 244,500 244,500 244,475 25 Total Expenditures 529,500 529,500 532,080 (2,580) Excess (Deficiency) of
Revenues over Expenditures (529,500) (529,500) (531,660) (2,160)
OTHER FINANCING SOURCES (USES)
Transfers in 532,400 532,400 531,839 (561) Transfers out - - - - Total Other Financing Sources (Uses) 532,400 532,400 531,839 (561) Net Change in Fund Balances 2,900 2,900 179 (2,721) Fund Balances Beginning 6 6 6 - Fund Balances Ending 2,906$ 2,906$ 185$ (2,721)$ Continued
Capital Construction Debt Service Fund
209
City of Rocklin
Schedule of Revenues, Expenditures, and
and Changes in Fund Balances
Budget and Actual (GAAP Basis)
Debt Service Nonmajor Governmental Funds
For the Year Ended June 30, 2023
REVENUES
Use of money and property
Total Revenues
EXPENDITURES
Current:
General government
Debt service:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) o
f
Revenues over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amount s (Negative)
39,000$ 39,000 $ 39,240 $ 240 $ 39,000 39,000 39,240 240
- - - - 486,400 486,400 486,348 52
39,000 39,000 38,940 60
525,400 525,400 525,288 112
(486,400) (486,400) (486,048) 352
- - - - - - - - - - - - (486,400) (486,400) (486,048) 352
2,088,247 2,088,247 2,088,247 -
1,601,847$ 1,601,847$ 1,602,199$ 352$
Concluded
Rocklin Public Financing Authority Debt Service Fund
210
Page Intentionally Left Blank
211
Fund Title Fund Description
Fleet Management Internal Service Fund To account for the cost of maintenance of all City vehicles and hold resources to offset future replacement costs.
Risk Management Internal Service Fund To account for and finance the risk management functions for the City, which includes: general liability, workers compensation, property damage, dental, vision, and other insurance expenditures and to hold resources for Self-Insured Losses and Disaster Contingency.
INTERNAL SERVICE FUNDS
212
City of Rocklin
Statement of Net Position
Internal Service Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
Fleet Risk
Management Management
Internal Internal
Service Service
Fund Fund 2023 2022
ASSETS
Current assets:
Cash and investments 5,986,902$ 7,733,510$ 13,720,412$ 12,037,919$ Accounts receivable - - - 319 Inventory and other 50,567 - 50,567 47,606 Total current assets 6,037,469 7,733,510 13,770,979 12,085,844 Non-current assets:
Capital assets - net 6,063,575 - 6,063,575 6,632,544 Total assets 12,101,044$ 7,733,510$ 19,834,554$ 18,718,388$
LIABILITIES
Current liabilities:
Accounts payable and accrued liabilities 48,832$ 21,953$ 70,785$ 86,314$ Claims payable - 145,345 145,345 237,446 Compensated absences 10,475 - 10,475 13,683 Total current liabilities 59,307 167,298 226,605 337,443 Non-current liabilities:
Claims payable - 2,327,282 2,327,282 2,595,484 Compensated absences 1,233 - 1,233 1,055 Total non-current liabilities 1,233 2,327,282 2,328,515 2,596,539 Total liabilities 60,540$ 2,494,580$ 2,555,120$ 2,933,982$
NET POSITION
Net Investment in capital assets 6,063,575$ - $ 6,063,575$ 6,632,544$ Unrestricted 5,976,929 5,238,930 11,215,859 9,151,862 Total net position 12,040,504$ 5,238,930$ 17,279,434$ 15,784,406$ Internal Service Funds
Total
213
City of Rocklin
Statement of Revenues, Expenses and Changes in Fund Net Position Internal Service Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
Fleet Risk
Management Management
Internal Internal
Service Service
Fund Fund 2023 2022
OPERATING REVENUES
Charges for services 2,732,704$ 3,178,970 5,911,674$ 5,875,186$ Intergovernmental 2,804 - 2,804 128,166 Other revenue 11,047 - 11,047 26,598 Total operating revenues 2,746,555 3,178,970 5,925,525 6,029,950
OPERATING EXPENSES
Salaries and benefits 496,659 1,769,722 2,266,381 2,819,760 Services and supplies 1,236,164 1,318,312 2,554,476 2,322,174 Depreciation 1,003,751 - 1,003,751 957,993 Total operating expenses 2,736,574 3,088,034 5,824,608 6,099,927 Operating income (loss) 9,981 90,936 100,917 (69,977)
NONOPERATING REVENUES (EXPENSES)
Gain (loss) on sale of assets 11,000 - 11,000 117,860 Investment earnings 89,632 46,384 136,016 16,126 Total nonoperating revenues (expenses) 100,632 46,384 147,016 133,986 Income (loss) before operating transfers 110,613 137,320 247,933 64,009 Transfers in 898,000 - 898,000 - Transfers out (53,500) - (53,500) (48,300) Income (loss) before capital contributions 955,113 137,320 1,092,433 15,709 Capital contributions 402,595 - 402,595 1,770,472 Change in net position 1,357,708 137,320 1,495,028 1,786,181 Total net position - beginning 10,682,796 5,101,610 15,784,406 13,998,225
Total net position - ending 12,040,504$ 5,238,930$ 17,279,434$ 15,784,406$ Total
Internal Service Funds
214
City of Rocklin
Statement of Cash Flows
Internal Service Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
Fleet Risk
Management Management
Internal Internal
Service Service
Fund Fund 2023 2022
Cash flows from operating activities:
Receipts from interfund services provided 2,733,023$ 3,178,970$ 5,911,993$ 5,890,417$ Other receipts 13,851 - 13,851 154,764 Payments to suppliers for goods and services (1,268,659) (1,658,729) (2,927,388) (1,660,227) Payments to employees for services (505,570) (1,769,722) (2,275,292) (2,819,838) Net cash provided (used) by operating activities 972,645 (249,481) 723,164 1,565,116 Cash flows from noncapital financing activities:
Interfund transactions 844,500 - 844,500 (48,300) Net cash provided (used) by noncapital financing activities 844,500 - 844,500 (48,300) Cash flows from capital financing activities:
Purchases (sales) of capital assets - net (423,782) - (423,782) (1,885,695) Proceeds from capital contributions 402,595 - 402,595 1,770,472 Net cash provided (used) by capital financing activities (21,187) - (21,187) (115,223) Cash flows from investing activities:
Investment income received 89,632 46,384 136,016 16,126 Net cash provided (used) by investing activities 89,632 46,384 136,016 16,126 Net increase (decrease) in cash and cash equivalents 1,885,590 (203,097) 1,682,493 1,417,719 Cash and cash equivalents - beginning 4,101,312 7,936,607 12,037,919 10,620,200 Cash and cash equivalents - ending 5,986,902$ 7,733,510 $ 13,720,412 $ 12,037,919 $ Reconciliation of operating income to net cash provided (used) by operating activities:
Operating income (loss) 9,981 $ 90,936 $ 100,917 $ (69,977) $ Adjustments to reconcile operating income (loss)
to net cash provided (used) by operating activities:
Depreciation 1,003,751 - 1,003,751 957,993 Change in operating assets and liabilities:
Accounts receivable 319 - 319 15,231 Inventory (2,961) - (2,961) (3,589) Accounts payable and accrued liabilities (35,415) 19,886 (15,529) (12,384) Claims payable - (360,303) (360,303) 681,068 Compensated absences (3,030) - (3,030) (3,226) Net cash provided (used) by operating activities 972,645$ (249,481)$ 723,164$ 1,565,116$ Total
Internal Service Funds
215
Fund Title Fund Description
Community Facilities District No. 3 Accounts for special taxes made on properties to pay for debt issued for infrastructure in the District.
Community Facilities District No. 6 Accounts for special taxes made on properties to pay for debt issued for infrastructure in the District.
Community Facilities District No. 7 Accounts for special taxes made on properties to pay for debt issued for infrastructure in the District.
Community Facilities District No. 8 Accounts for special taxes made on properties to pay for debt issued for infrastructure in the District.
Community Facilities District No. 9 Accounts for special taxes made on properties to pay for debt issued for infrastructure in the District.
Community Facilities District No. 10 Accounts for special taxes made on properties to pay for debt issued for infrastructure in the District.
Community Facilities District No. 11 Accounts for special taxes made on properties to pay for debt issued for infrastructure in the District.
North West Rocklin Annexation Area Trust Accounts for amounts collected to reimburse developers for constructing backbone infrastructure in the respective area.
CUSTODIAL FUNDS
216
City of Rocklin
Combining Statement of Fiduciary Net Position
Custodial Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
Community Community Community
Facilities Facilities Facilities
District No. 3 District No. 6 District No. 7
ASSETS
Current assets:
Cash and investments 416$ 111,789$ 45,706$ Cash and investments held by trustee - - - Receivables - 553 21 Total assets 416$ 112,342$ 45,727$
NET POSITION
Restricted for individuals, organizations,
and other governments 416$ 112,342$ 45,727$ Total net position 416$ 112,342$ 45,727$ Continued
217
City of Rocklin
Combining Statement of Fiduciary Net Position
Custodial Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Current assets:
Cash and investments
Cash and investments held by trustee
Receivables
Total assets
NET POSITION
Restricted for individuals, organizations,
and other governments
Total net position
Community Community Community
Facilities Facilities Facilities
District No. 8 District No. 9 District No. 10
212,911$ 256,640$ 3,310,195$
- - 3,544,881 1,362 1,063 33,769
214,273$ 257,703$ 6,888,845$
214,273$ 257,703$ 6,888,845$
214,273$ 257,703$ 6,888,845$
Continued
218
City of Rocklin
Combining Statement of Fiduciary Net Position
Custodial Funds
June 30, 2023
(With Comparative Totals for June 30, 2022)
ASSETS
Current assets:
Cash and investments
Cash and investments held by trustee
Receivables
Total assets
NET POSITION
Restricted for individuals, organizations,
and other governments
Total net position
Northwest
Community Rocklin
Facilities Annexatio n
District No. 11 Area Trust 2023 2022
885,899$ 16,110 $ 4,839,666$ 4,985,716 $
538,456 - 4,083,337 4,686,199 45,869 - 82,637 167,522 1,470,224$ 16,110$ 9,005,640$ 9,839,437 $
1,470,224$ 16,110$ 9,005,640$ 9,839,437 $
1,470,224$ 16,110$ 9,005,640$ 9,839,437 $
Concluded
Totals
219
City of Rocklin
Combining Statement of Changes in
Fiduciary Net Position
Custodial Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
Community Community Community
Facilities Facilities Facilities
District No. 3 District No. 6 District No. 7
ADDITIONS
Taxes collected for community facilities districts 202 $ 82,959$ 305 $ Investment earnings 61 1,355 1,805 Other revenue 153 363 46 Bond issuances - - - Total additions 416 84,677 2,156
DEDUCTIONS
Professional services - 13,300 9,600 Program supplies and materials 6,683 - - Fees and charges - - - Debt service principal - 72,921 237,329 Debt service interest - 5,838 3,560 Payments to City - - - Issuance costs - - - Total deductions 6,683 92,059 250,489 Change in net position (6,267) (7,382) (248,333) Total net position - beginning 6,683 119,724 294,060 Total net position - ending 416$ 112,342$ 45,727$ Continued
220
City of Rocklin
Combining Statement of Changes in
Fiduciary Net Position
Custodial Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
ADDITIONS
Taxes collected for community facilities districts
Investment earnings
Other revenue
Bond issuances
Total additions
DEDUCTIONS
Professional services
Program supplies and materials
Fees and charges
Debt service principal
Debt service interest
Payments to City
Issuance costs
Total deductions
Change in net position
Total net position - beginning
Total net position - ending
Community Community Community
Facilities Facilities Facilities
District No. 8 District No. 9 District No. 10
205,044$ 239,508$ 3,284,088$
2,007 2,378 156,257 322 2,062 6,494 - - -
207,373 243,948 3,446,839 13,500 13,900 35,200
- - -
2,055 2,398 32,918 188,718 224,709 1,885,000 15,110 17,991 2,070,736 - - 8,238
- - -
219,383 258,998 4,032,092 (12,010) (15,050) (585,253) 226,283 272,753 7,474,098 214,273$ 257,703$ 6,888,845$
Continued
221
City of Rocklin
Combining Statement of Changes in
Fiduciary Net Position
Custodial Funds
For the Year Ended June 30, 2023
(With Comparative Totals for June 30, 2022)
ADDITIONS
Taxes collected for community facilities districts
Investment earnings
Other revenue
Bond issuances
Total additions
DEDUCTIONS
Professional services
Program supplies and materials
Fees and charges
Debt service principal
Debt service interest
Payments to City
Issuance costs
Total deductions
Change in net position
Total net position - beginning
Total net position - ending
Northwest
Community Rocklin
Facilities Annexation
District No. 11 Area Trust 2023 2022
584,084$ - $ 4,396,190$ 5,284,921$ 29,589 - 193,452 7,617 4,625 - 14,065 11,155 - - - 663,578 618,298 - 4,603,707 5,967,271 22,200 - 107,700 105,500 - - 6,683 - 5,800 - 43,171 38,759 370,000 - 2,978,677 2,023,282 179,800 - 2,293,035 1,978,414 - - 8,238 - - - - 554,791 577,800 - 5,437,504 4,700,746 40,498 - (833,797) 1,266,525 1,429,726 16,110 9,839,437 8,572,912 1,470,224$ 16,110$ 9,005,640$ 9,839,437$ Concluded
Total
Custodial Funds
222
This page intentionally left blank
223
STATISTICAL INFORMATION
224
Page Intentionally Left Blank
225
Contents Page(s)
Financial Trends
190-199
Revenue Capacity
200-202
Debt Capacity
203-204
Demographic and Economic Information
205-207
STATISTICAL SECTION
This part of the City of Rocklin's annual comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, footnotes, and required supplementary information says about the City's overall financial health.
Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive financial reports for the relevant year.
These schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time.
These schedules contain information to help the reader assess the City's property These schedules contain 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. 226
Table 1
City of Rocklin
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
2014 2015 2016 2017 2018
Governmental activities:
Net investment in capital assets 303,473,919$ 302,623,713 $ 312,465,313 $ 305,878,169 $ 314,115,482 $ Restricted 24,905,118 22,509,945 26,651,163 28,671,195 15,238,984 Unrestricted 26,568,355 (7,435,357) (2,310,614) 4,165,814 5,318,242 Total Governmental Activities Net Position 354,947,392$ 317,698,301 $ 336,805,862 $ 338,715,178 $ 334,672,708 $