Roseville City Council
June 5, 2024

ANN JOHNSTON Vice President
ALLISON KOOIMAN Vice President
DAVID LUZURIAGA Vice President
RYAN LYNCH Vice President
JENNIFER MARKS Vice President
FRANK MARTIN Vice President
NANDEZ MILLER Vice President
CECILIA MOKLER Vice President
NATHANIEL MOZER Vice President
ARIEF NAFTALI Vice President
ANDREW NICKERSON Vice President
STEVE NORTON Vice President
JUSTIN PALLAMARY Vice President
TRAVIS PERRY Vice President
MARK PFEILER Vice President
TOM PILARSKI Vice President
GERRIT POST Vice President
DANIEL RAHE Vice President
MICHAEL R. REDIG Vice President
TERESITA REUTTER Vice President, Assistant Treasurer
SCOTT ROCKE Vice President
GINA ROWE Vice President
MAIRA SALCEDO Vice President
SEAN SAMSEL Vice President
GARY SKREL Vice President
SEAN SMITH Vice President
THEO SMITH Vice President
RICHARD M. SULLIVAN Vice President
MICHAEL D. SWAN Vice President
KEVIN T. THORNTON Vice President
AARON TILLMANS Vice President
REUBEN TOLENTINO Vice President
MISHA TROYAN Vice President
ALYSEN WEILAND Vice President
BRIAN WRIGHT Vice President
TERRENCE WRIGHT, JR. Vice President
CAROLINE YONTEZ Vice President

This Unanimous Written Cons ent shall be f iled with the Minutes of the proceedings of the Board of Directors, and the actions taken hereby shall have the same force and effect as if taken at a meeting duly called and held.

[SIGNATURE ON NEXT PAGE]

Unanimous Written Consent of the Board of Directors of Psomas January 5, 2024

Ryan E. McLean

Richard Sullivan

Matthew D. Clark

Mike Lucki

Ann Johnston

Steve Margaroni

Alejandro Angel

Reuben Tolentino

Alysen Weiland

RESOLUTION NO. 24-174

APPROVING A FIRST AMENDMENT TO ON-CALL PROFESSIONAL SERVICES AGREEMENT, BY AND BETWEEN THE CITY OF ROSEVILLE AND WSP USA, INC.,

AND AUTHORIZING THE CITY MANAGER TO EXECUTE IT

ON BEHALF OF THE CITY OF ROSEVILLE

WHEREAS, a first amendment to on-call professional services agreement for Construction Resident Engineering and Inspection Services, by and between the City of Roseville and WSP USA, Inc., has been reviewed by the City Council; and

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Roseville that said first amendment is hereby approved and that the City Manager is authorized to execute it on behalf of the City of Roseville.

BE IT FURTHER RESOLVED, that the City Manager or his or her designee is authorized to execute two (2) additional one (1) year renewals without further City Council approval, provided that the applicable budget is approved by the City Council, or until staff determines that continuing with this consultant is not in the best interest of the City.

PASSED AND ADOPTED by the Council of the City of Roseville this day of , 20 , by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:

MAYOR

ATTEST:

City Clerk

COUNCIL COMMUNICATION
CC #:
3355
File #:
0900-04-02
Title:

Blue Oaks Boulevard Bridge and Roadway Widening Project - Professional Design Services Agreement
Contact:

Nicolas Bumb 916-746-1300 [email protected]

Meeting Date: 6/5/2024
Item #: 6.26.

RECOMMENDATION TO COUNCIL
Staff recommends that the City Council adopt a resolution to approve a professional design services agreement with Mark Thomas & Company, Inc. for the design of the Blue Oaks Boulevard Roadway and Bridge Widening Project, and authorize the City Manager to execute it.

BACKGROUND
The Blue Oaks Blvd Bridge and Roadway Widening Project is located in the Northwest Industrial Area. Blue Oaks Blvd between Woodcreek Oaks Blvd and Washington Blvd is currently a 6-lane arterial roadway; the roadway reduces to 4 lanes to conform to the 4-lane bridge spanning Industrial Avenue and the Union Pacific Railroad (UPRR).

This section of Blue Oaks Blvd has been identified for improvement by the 2035 General Plan, adopted by City Council on August 5, 2020. The General Plan addresses the current impacts due to the bottlenecking at the bridge on Blue Oaks Blvd, as well as prepares for increased traffic demand due to development activities in west Roseville. The proposed improvements seek to apply the improvements outlined in the General Plan.

In their January 18, 2023 meeting, City Council appropriated $4 million of General Fund FY2021- 22 year-end budget surplus to the project to begin development of a Request for Proposals (RFP) and Project design.

Subsequently, in March 2023 staff nominated the project for design funding through the Congressional Directed Spending process and, in coordination with State and Federal representatives,
were successful in
securing $3.2 million of Federal Funds for design of this project as part of
H.R. 4820
–
Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2024.

Staff are awaiting guidelines and directions to detail the disbursement requirements for the funding. Once available to the City, staff will return to Council with a budget adjustment to include the federal funds within the project budget for design phase.

The federal funding will supplement the General Fund resources already budgeted and allow the remaining funding to move forward to the construction phase of the project.

On December 14, 2023 staff released the RFP for professional services for the Blue Oaks Boulevard Bridge and Road Widening Project. The project improvements will include:

Widening of Blue Oaks between Woodcreek Oaks and Washington Boulevard from 6 lanes to 8 lanes.

Addition of a 4-lane bridge to increase the overall road capacity from 4 lanes at the UPRR over-crossing to 8 lanes.

Three consulting firms submitted proposals in response to the RFP. After evaluation of the three proposals, the selection committee selected Mark Thomas & Company, Inc. to provide the requested services based on their extensive experience with UPRR crossing projects and their knowledge of the City of Roseville’s design and construction standards and operations.

Mark Thomas & Company, Inc. will be responsible for: all preliminary engineering, including preparation of environmental documents; all roadway and bridge design; and preparation of Plans, Specifications, and Estimates for the project.

It is anticipated that the design will be completed by spring of 2026, with the project bid that same year.

FISCAL IMPACT
The total contract amount of the agreement is $3,799,521 and is currently funded with General Fund resources from the FY2021-22 year-end surplus already included in the project budget. Staff expect to return to Council shortly to budget the $3.2 million of federal funds into the project. The remaining General Fund resources in the project will be used toward construction, along with Traffic Mitigation Fee Funds. No additional funds are requested with this agreement.

ENVIRONMENTAL REVIEW
The California Environmental Quality Act (CEQA) only applies to projects which have the potential to cause a significant effect on the environment. Where it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment, the activity is not subject to CEQA. (CEQA Guidelines §15061(b)(3)).

Professional Design Services Agreements meet the above criteria and are not subject to CEQA.

No additional environmental review is required.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal A - Remain fiscally responsible in a changing world Goal F - Invest in well-planned infrastructure and growth

Respectfully Submitted,
Nicolas Bumb, Associate Engineer
Jason Shykowski, Public Works Director

_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Resolution 24-162
Vicinity Map
PDSA
RESOLUTION NO. 24-162

APPROVING A PROFESSIONAL DESIGN SERVICES AGREEMENT, BY AND BETWEEN THE CITY OF ROSEVILLE AND MARK THOMAS & COMPANY, INC., AND

AUTHORIZING THE CITY MANAGER TO EXECUTE IT

ON BEHALF OF THE CITY OF ROSEVILLE

WHEREAS, a professional design services agreement for the Blue Oaks Boulevard Roadway and Bridge Widening project, by and between the City of Roseville and Mark Thomas & Company, Inc., has been reviewed by the City Council; and

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Roseville that said agreement is hereby approved and that the City Manager is authorized to execute it on behalf of the City of Roseville.

PASSED AND ADOPTED by the Council of the City of Roseville this day of , 2024, by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:

MAYOR

ATTEST:

City Clerk

FOOTHILLS BLVD

BLUE OAKS BLVD

WASHINGTONBLVD
WOOD
OAKS

BLVD ROSEVILLE

CREEKWASHINGTON BLVD

BLUE OAKS BLVD BRIDGE & ROADWAYWIDENING PROJECTVICINITY MAP

PROJECTLOCATIONLEGEND

[\\Rosenet\rosenetdfs\CITY ATTORNEY\CYCOM\WPDOCS\D002\P006\00085913.DOCX;05/21/2024]

EXHIBIT “A”

03/06/2024 1

Project Understanding/Scope of Services
Mark Thomas is pleased to submit this proposal to complete the preliminary engineering, environmental clearance, and final Plans, Specifications, Estimates (PS&E) and construction support for the Blue Oaks Blvd Roadway & Bridge Widening Mark Thomas will coordinate the following Scope of Work with the entire Project Team to complete the technical reports, environmental clearance, regulatory agency and UPRR approvals, and final plans, specifications and estimates for the Project. Generally, this will include project management, topographic surveying and base mapping, environmental technical studies, environmental documentation/permitting, preliminary and final engineering, bidding and construction support services.

Mark Thomas will also coordinate all design submittals and QA/QC for the project design. Mark Thomas will serve as the central coordinator for all activities between the consulting team, the City, UPRR, and other regulatory agencies.

Assumptions
This scope of work has been prepared using the following assumptions:
• City will pay all UPRR, City and permitting agency costs and related fees • The City will obtain preliminary title reports as needed to verify existing rights of way • Right of way appraisals and acquisition services are not part of this scope. • No new noise walls are required
• Construction staking notes are not included
• The Geotechnical investigation assumes a 3-span overhead. • A Phase I Initial Site Assessment (ISA) will be performed. It is assumed a Phase II ISA will not be required
• A budget has been assumed for one constructability design review

1.0 PROJECT MANAGEMENT/MEETINGS
Mark Thomas will manage and administer the project. This will include the specific items listed below.

1.1 General Project Management
This task will include ongoing general project coordination with subconsultants and internal staff, including preparing memos, letters, e-mail, and phone calls necessary to manage the project, progress reports, and CPM scheduling and updates. Mark Thomas will also maintain project files in this task.

This task includes additional project management time for Kimley-Horn and ICF.

1.2 Agency Coordination & PDT Meetings
Ongoing monthly virtual coordination meetings will be included with this task. Meetings will include a project kick-off meeting, with representation from the project team, City staff, and other stakeholders (such as UPRR or regulatory agencies). Thereafter, virtual

03/06/2024 2

meetings will generally be held monthly. Mark Thomas will take the lead in design coordination progress meetings. Work includes preparation of meeting agenda in consultation with the City Project Manager, distribution of approved meeting agenda, arrangement of attendance of meeting participants, and preparation and distribution of meeting minutes, including recap of actions to be taken prior to the next meeting. The project Critical Path Method (CPM) schedule will be reviewed as part of the meeting.

This scope assumes a total of twenty virtual (20) PDT meetings that will conclude after submittal of the Final PS&E
This task will also include ongoing agency coordination, including coordination with UPRR, and other project stakeholders. This task will include preparing memos, letters, e- mail, and phone calls necessary to manage the project.

Kimley-Horn will participate in up to twelve (12) PDT meetings and ICF will participate in up to eighteen (18) total project meetings.

1.3 Meetings/Coordination with Caltrans
Mark Thomas will be responsible for Caltrans coordination, including initial virtual meetings with Caltrans, and development of design criteria to facilitate design plan approval and obtaining a Caltrans Encroachment Permit for improvements within Caltrans' right-of-way, and the review of plan comments regarding the proposed improvements. Written correspondence between Mark Thomas & Caltrans will be provided to the City's Project Manager.

1.4 Union Pacific Railroad (UPRR) and California Pu blic Utility Commission (CPUC) Coordination
Mark Thomas will be responsible for railroad coordination, including initial virtual meetings with UPRR, and development of design criteria (i.e. # of tracks, clearances, etc.).

This will include the Concept ("A"), 30% ("B"), and 100% ("C") Submittals to UPRR to facilitate design plan approval. Mark Thomas will coordinate meetings between the City, UPRR and CPUC, as required to discuss the details of proposed new bridge. In addition to the meetings identified above, this task includes meetings with UPRR to review the project and discuss various elements of the project design as well as responding to questions that either the CPUC or UPRR has on the bridge or Project.

1.4.1 Right-of-Entry Agreement
UPRR requires parties entering the railroad right-of-way to execute a Right-of-Entry Agreement in which the parties agree to abide by railroad safety rules, schedule and pay for a railroad flagman during the work and obtain railroad protective insurance. In particular survey crews, the geotechnical drilling sub-consultant and the utility potholes that use drilling equipment within the right-of-way will need to obtain a Right-of-Entry Agreement.

UPRR will also require the construction contractor to obtain a Right-of-Entry Agreement.

The design team will include this requirement in the project specifications and contract requirements. In addition, the UPRR will expect the City to pay for all of their project

03/06/2024 3

related costs including, engineering plans review, signal relocations and construction, flagging and field inspection services, engineering and administrative fees, license fees, and property or right of way acquisition cost.

Mark Thomas will prepare and submit and coordinate the Right-of-Entry agreement with UPRR for survey and environmental studies (non-ground disturbing activities)

1.4.2 UPRR Easement Requirements
UPRR will require a new aerial road easement to accommodate temporary and final construction of the grade separation. If utility relocations are required, a revised agreement will be required to cover the new utility locations. Mark Thomas will prepare and coordinate Agreements and UPRR Easement review.

1.4.3 Construction and Maintenance Agreement (C&M)
This agreement would be between the UPRR and the City for the grade separation. The agreement will describe proposed improvements and the work that UPRR will do in support of this project. The agreement will also cover the reimbursement requirements of the UPRR for all Railroad Force Account Work and project related costs including, engineering plans review, signal relocations and construction, flagging and field inspection services from the perspective of the impact of the job upon railroad facilities, engineering and administrative fees, license fees, and property or right of way acquisition cost, if needed.

Mark Thomas will coordinate the UPRR preparation of the Construction and Maintenance Agreement.

1.4.4 California Public Utilities Commission Crossi ng Application The California Public Utilities Commission is charged with the public safety of railroad – highway crossings. The grade separation will require the City to submit a formal application to the CPUC, which will ultimately result in a decision by the Commission that the crossing is acceptable. During the development of the design, the project team will meet on site in a diagnostic meeting with the CPUC, the UPRR, and other stakeholders to identify key issues to be addressed by the project design. When the design has been developed and the CEQA document has been approved, the application will be submitted accompanied by a scoping memo which will indicate the category of the application, discuss whether hearings are expected to be necessary and describe the issues that the CPUC needs to consider in approving the crossing. The application will describe the grade separation and present reasons why it is necessary. It will have three Exhibits - Exhibit A will be a vicinity map of the grade separation. Exhibit B will contain a drawing of the grade separation showing the plan, a profile of the street and a profile of the tracks. Exhibit C will be a legal description of the crossing.

Mark Thomas will prepare the CPUC Crossing Application and submit it on behalf of the City.

03/06/2024 4

1.5 Project Schedule
Mark Thomas will update the project schedule on a monthly basis for submittal to the City. This will include a review of critical path items, analysis of overall progress, and communication of items for discussion with the City Project Manager.

1.6 Quality Control
The Mark Thomas Quality Control plan consists of established procedures for performing the work (which are reassessed with each project), including methods for design calculations, establishing appropriate levels of design development for intermediate submittals, identification of required plan checks (who, what, when), design checklists, and methods of project documentation.

This task includes additional QA/QC time for Kimley-Horn work products.

1.7 Funding Assistance/Local Programs Compliance
Mark Thomas team will assist the City to ensure the project is developed in accordance with the guidelines presented in the current Local Assistance Procedures Manual (LAPM) and Caltrans Local Assistance Program Guidelines Manual (LAPG). This task includes any work involved in coordinating with Caltrans, District 3 Local Assistance or the development of the Field Review Forms, Right-of-Way/Utility Certifications, Roadway and Bridge Data Forms, Request for Authorizations (RFA) Packages for various phases, and other forms from the LAPM required for approval.

The Mark Thomas team will also look for available funding opportunities for the design and construction of the Project. The Mark Thomas team will also develop funding strategy with recommendations to the City, and advise the City on customizing approaches and narratives to possible funding programs. The Mark Thomas team will also create a high-impact information sheet for inclusion in grant proposals, and review forms/documents to ensure compliance with potential funding sources.

Task 1 Deliverables
• Monthly Status Reports – 20 total
• Meeting Agenda Packets – 20 total
• CPM Schedule Updates – 20 total
• Mark Thomas Quality Control Checklist – 30%, 60%, 90%, 100% and Final Submittals • "A", "B", "C" Submittals to UPRR
• UPRR Right of Entry Agreement
• Agreement and UPRR Easement Requirements
• Construction and Maintenance Agreement
• CPUC Crossing Application
• LAPM Compliance Forms
• Grant Applications (either State or Federal) – 2 Total Applications

03/06/2024 5

2.0 DATA COLLECTION, MAPPING, SURVEYS

2.1 Caltrans Encroachment Permit
Upon completion of the 90% plans, Mark Thomas will submit the plans and encroachment permit application (via online through the Caltrans Encroachment Permit System) to Caltrans District 3 for review.

If Caltrans has any comments on the submittal, Mark Thomas will provide responses to the comments and resubmit the plans.

Encroachment Permit Application fees are determined by Caltrans, and we anticipate the City paying the fees.

2.2 Control Surveys
Mark Thomas will set durable project control along Blue Oaks Blvd. Horizontal control will be based on the California State Plane Coordinate system (1983), Zone 3 and elevations will be based on NAVD88 derived from published National Geodetic Survey (NGS) markers or Continuously Operating Reference Station (CORS). Up to sixteen (16) markers will be set for Mobile Terrestrial LiDAR scan. A closed level loop will be performed for project control and MTLS control markers.

2.3 Mobile Terrestrial LiDAR Scan (MTLS)
Mark Thomas will collect topographic data for approximately 1.5 miles along Blue Oaks Blvd between Diamond Creek Blvd. and the Highway 65 overpass just east of Washington Blvd. Design level base mapping and digital terrain model will be provided for the 1.5 mile long corridor. The LiDAR scan will be from back of curb to back of curb and to the end of returns into cross streets. Base mapping will include physical features including curb & gutter, flow-lines, angle points, top of curb, handicap ramps, pavement striping, signs, water valves, manholes, within the roadway.

2.4 Supplemental Topography Surveys
Mark Thomas field crews will collect aboveground surface visible utilities behind existing curb & gutter for the entire length of the project (approximately 1.5 miles) along Blue Oaks Blvd between Diamond Creek Blvd. and the Highway 65 overpass just east of Washington Blvd. limited to property fence lines and existing right of way. Data collection will include information for ramps, sidewalk, dry & wet utilities, pull boxes, cabinets, risers, fire hydrants, streetlights, power poles, vaults, and top of rail, ditches, signs, fences, and tress 6” DBH or greater. Data will be collected to supplement Mobile Terrestrial LiDAR Scan (MTLS).

2.5 Record Right of Way
Mark Thomas will perform record research to locate recorded information such as right of way maps, records of survey, corner records, and other official maps of record available at the office of the County Recorder that will be necessary to determine the right of way limits for Blue Oaks Blvd. The right of way limits will be based on publicly

03/06/2024 6

available record maps and a sample of existing monuments to shift & rotate record line work. This task does not constitute a fully resolved boundary survey.

2.6 Boundary Surveys
Mark Thomas will perform record research to locate recorded information such as right of way maps, records of survey, corner records, and other official maps of record available at the office of the County Recorder that will be necessary to determine the right of way limits of Roseville Parkway and adjacent parcels identified for acquisition.

Mark Thomas will perform a field survey to search and locate existing survey monuments and physical evidence required to retrace the existing right of way of up to six (6) adjoining parcels. Side lot lines of the six (6) parcels will only be retraced where necessary to successfully transfer right of way needs for the project. This data will be analyzed, and the existing Right of Way will be delineated. Mark Thomas assumes centerline monuments or reference marks thereto shown on various maps will be available to retrace right of way without convoluted surveys outside the project limits. It is assumed the city will provide preliminary title reports including vesting info and all documents referenced in the title report. Easements and encumbrances described in the title reports and supporting documents will be plotted and included in the right of way retracement deliverable.

Included in this task is the preparation of a pre-construction corner record (per Section 8771 of the Business & Professions Code Division 3, Chapter 15, Article 5) that will identify all record survey monuments that are in the vicinity of the construction of the project. The corner record will be filed with the county surveyor. Any fees for recording the corner record will be paid by the City.

2.7 Existing Utility Mapping and Potholing
Mark Thomas will facilitate verification of existing utility locations by pothole. This task includes gathering bid quotes for up to three (3) pothole contractors, scheduling the work, and gathering supplemental surveys to gather accurate locations. This scope assumes twenty-five (25) potholes will be required. Three (3) days of Mark Thomas field crew time has been included in the fee estimate.

2.8 Plats & Legals
Legal Descriptions and 8.5”x11” plats will be prepared for up to six (6) permanent right of way acquisitions and six (6) temporary construction easements.

Task 2 Deliverables
• Base Mapping/Topographic Surveys
• Legal Descriptions and Plats – 6 Permanent Acquisitions, and 6 TCE’s • Utility Potholing Plan, Report and Survey Data

03/06/2024 7

3.0 PRELIMINARY ENGINEERING (ALTERNATIVE ANALYSIS)

3.1 “A” Submittal to UPRR
This is the Concept submittal per the BNSF-UPRR Guidelines. Details for this task are included in Task 1.4 above.

3.2 UPRR Response to “A” Submittal
Details for this task are included in Task 1.4 above.

3.3 Traffic Operations Analysis Memorandum
Kimley Horn will complete the detailed traffic analysis for the Blue Oaks Boulevard Corridor. This will consist of the following tasks.

Data Collection
Kimley-Horn shall be entitled to rely on the completeness and accuracy of all information provided by the City and Client. Kimley-Horn will request the following information from the City for the purposes of performing the traffic operations analysis:

A. Historic roadway segment daily count profiles
B. Origin-destination data
C. Recent speed survey data for Blue Oaks Boulevard within the project area D. Synchro network files (if available) for the general project area, including existing signal timing parameters for the seven signalized intersections Kimley-Horn will manually collect (via a subconsultant) weekday, peak-period intersection turning movements at the seven (7) Blue Oaks Boulevard signalized intersections between and inclusive of Diamond Creek Boulevard and the SR-65 Southbound Ramps/Washington Boulevard, and the two (2) unsignalized project intersections (Blue Oaks Boulevard @ Niblick Drive and Blue Oaks Boulevard @ Alantown Drive). The counts will be conducted on two consecutive typical weekdays (Tuesday, Wednesday, or Thursday when local/regional schools are in session) between the hours of 6-9 AM and 4-7 PM. The count data at the Alantown Drive intersection will include origin-destination data for traffic approaching from westbound Blue Oaks Boulevard and the northbound SR-65 off-ramp to westbound Blue Oaks Boulevard. We will endeavor to collect these counts during Spring 2024.

Kimley-Horn will complete a site visit of the project vicinity and study facilities to observe existing operations and lane configurations, vehicle storage lengths, existing traffic control, speed limits, lane utilization, adjacent land uses, and other readily apparent features for the study facilities that are deemed by Kimley-Horn to be relevant to the Scope of Services.

Operations Analysis
Kimley-Horn will collaborate with the City and the project team to establish the recommended intersection footprints for use in subsequent design efforts. This task includes focused technical analyses to identify recommended lane configurations,

03/06/2024 8

storage lengths, signal phasing (including consideration of operational strategies such as right-turn overlap, etc.), and bicycle/pedestrian facility treatments. Kimley-Horn will complete a focused weekday AM and PM peak-hour intersection operations analysis including up to seven (7) signalized intersections. Additional consideration will be given to side-street access and operations at up to two (2) unsignalized intersections. These analyses will include delay, Level of Service (LOS), and queuing for the following scenarios:

A. Existing (2024) Conditions
B. Existing (2024) plus Proposed Project Conditions +
C. Existing (2024) plus Proposed Project (3-Lane Bridge) Conditions ++ D. Cumulative (2035) Conditions +++
E. Cumulative (2035) plus Proposed Project Conditions + F. Cumulative (2035) plus Proposed Project (3-Lane Bridge) Conditions ++

+ “Proposed Project” refers to the inclusion of the additional westbound through lane along Blue Oaks Boulevard and the associated access considerations in the vicinity of the Alantown Drive/Fidelity Way intersection and the downstream weave created by westbound left-turn vehicle demand at Niblick Drive and Foothills Boulevard. Analyses include up to three (3) total access/volume scenarios (base condition per the General Plan plus two additional conditions to be collaboratively defined with the City and project team).
++ Scenario includes the screening of a 3-lane westbound Blue Oaks Boulevard bridge using the same volumes (Existing and Cumulative) as the “Plus Project” conditions (base condition per the General Plan only) in which a 4-lane bridge was modeled to generate traffic demand for the new structure. This screening is acknowledged to be conservative in that the technical analyses apply “4-lane volumes” to a “3- lane geometry”. The outcome of this screening will inform the likelihood of a 3-lane westbound structure being considered feasible for additional detailed analyses. +++ Scenario considers the “2035 Cumulative Unconstrained Conditions” as documented in the 2035 General Plan Update (Figure 4.3-A8-a)
The study intersections are as follows:

Signalized Intersections

1. Blue Oaks Boulevard @ Diamond Creek Boulevard/Prairie Woods Way*

2. Blue Oaks Boulevard @ Woodcreek Oaks Boulevard

3. Blue Oaks Boulevard @ Roseville Parkway

4. Blue Oaks Boulevard @ New Meadow Drive

5. Blue Oaks Boulevard @ Foothills Boulevard

6. Blue Oaks Boulevard @ Fidelity Way

7. Blue Oaks Boulevard @ SR-65 Southbound Ramps/Washington Boulevard

* Intersection is included in operations analyses due to its incorporation in the City’s Blue Oaks Boulevard signal coordination plans.

Unsignalized Intersections

1. Blue Oaks Boulevard @ Niblick Drive

2. Blue Oaks Boulevard @ Alantown Drive

03/06/2024 9

LOS will be determined using methods defined in the Highway Capacity Manual, using appropriate traffic analysis software (Vissim) and analysis procedures consistent with the City’s current, published guidelines.

The primary purpose of this analysis will be to identify and inform the necessary lane configuration, auxiliary lane treatments (i.e., free vs. signal-controlled right-turns, etc.), storage lengths, and traffic signal phasing parameters. To this end, Kimley-Horn will analyze the weekday AM and PM peak-hour conditions to identify the desirable intersection lane configuration to achieve the City’s operational thresholds and/or other stated thresholds.

Documentation
Efforts completed in this task will be documented in technical memorandum format with graphics as deemed appropriate by Kimley-Horn. We will prepare and submit an electronic (PDF) version of the Draft Memorandum to the City. Kimley-Horn will respond to a single set of consolidated, non-conflicting comments from the City on the Draft Memorandum. We will prepare and submit an electronic (PDF) version of the Final Memorandum to the City.

3.4 Geotechnical Analysis and Report

3.4.1 Preliminary Foundation Report

Earth Mechanics, Inc (EMI) will coordinate with the City of Roseville, UPRR and the design team to discuss the project issues and schedule; review preliminary project data and documents; review published geologic mapping and literature; and perform a site review.

EMI will prepare a Preliminary Foundation Report (PFR) for the proposed Blue Oaks Boulevard Overhead bridge to provide preliminary geotechnical information to assist structural designers in the Type Selection process. This PFR will be prepared using the available subsurface data and the format will be in accordance with the current Caltrans Guidelines.

Deliverables:
• Preliminary Foundation Report

3.4.2 Geotechnical Investigation
Caltrans is enforcing the AASHTO recommendations of a soil boring at each bridge support locations where substructure width is less than 100 feet; minimum of two borings are required per location where substructure width is greater than 100 feet.

Since the retaining walls are adjacent to the abutments and less than 100 feet in length, additional borings will NOT be performed for the retaining walls. Data obtained from some boreholes will be used for multiple design elements. Based on this information, EMI’s geotechnical field investigations plan is presented in Table 1. The proposed approximate boring depths will be raised if refusal is encountered. The boreholes will be excavated using a truck-mounted or track-mounted drilling rig. Asphalt concrete cold- patch will be used to replace asphalt that is removed by excavations, and quick-set cement will be used to replace concrete that is removed by excavations.

03/06/2024 10

EMI will prepare a boring location plan, and this plan will be used to secure the well permits as well as City encroachment permit. UPRR encroachment permit and any other permits, if required, will be secured by others. No encroachment permit fee was assumed. Also, assumed that City will cover the cost for EIC/Flagman to work in UPRR Right-of-way. Traffic control will be performed following the CA MUTCD manual.

EMI field personnel will collect soil samples for laboratory testing, including bulk samples of near-surface soils and small disturbed and relatively undisturbed ring samples of deeper soils. The small disturbed and relatively undisturbed soil samples will be collected using split-spoon samplers at a vertical interval of about 5 feet, alternating between the Standard Penetration Test (SPT) sampler and the Modified California Drive (MCD) sampler. Samples of subsurface soils will be logged during the field investigation, secured in their containers or collected in plastic bags, and transported to the EMI laboratory.

Table 1. Proposed Soil Boring Information
Design Element Number of Borings Approximate Depth (feet) Bridge Abutments 2 80
Bridge Bents 2 125
Roadway Widening 9 5-10

3.4.3 Laboratory Testing
Field logs of the boreholes will be reviewed to select representative soil samples for laboratory testing. Various laboratory tests will be performed on soil samples to determine or derive their physical and engineering characteristics. Anticipated laboratory tests include: in-situ density and moisture content, grain size, direct shear, UU triaxial, consolidation, R-value, and soil corrosion tests. Laboratory tests will be conducted in general accordance with American Society for Testing and Materials (ASTM) standards or California Test methods.

3.4.2 Geotechnical Engineering Analysis
Results obtained from the field investigation and laboratory testing will be used to characterize subsurface soils and conditions and create idealized soil profiles for design purpose. The following analyses will be performed for the project:
• Evaluation of seismicity and estimation of Peak Ground Acceleration based on the Caltrans design criteria, and recommendation of an ARS curve for bridge structural design.
• Assessment of soil liquefaction potential, seismic settlement, and lateral spreading. • Foundation analysis for bridge and retaining walls.
• Assessment of global slope stability.
• Evaluation of soil corrosivity conditions and recommendations for mitigation measures.
• Design of pavement structural section in accordance with the Caltrans method.

03/06/2024 11

3.4.3 Report Preparation
EMI will prepare a Foundation Report to provide all the geotechnical design and construction recommendations for the project. The Foundation Report will include recommendations for bridge, retaining walls, slopes, and pavement structural sections.

EMI will address any comments resulting from the City/UPRR review and prepare a final Foundation Report.

Deliverables:
• Draft Foundation Report
• Final Foundation Report
• Log of Test Borings

3.4.5 Initial Site Assessment
EMI will perform the following tasks to provide an Initial Site Assessment (ISA) to evaluate the project vicinity and adjacent properties for evidence of recognized environmental conditions (RECs) and/or potential RECs that may significantly impact the project.
• Review and discuss the project with the City of Roseville, UPRR and the design team.
• Review available project documents and reports including; APN parcel maps, site geology and ground water data. We will review this information for evidence of suspected or known contamination/hazardous materials issues (such as pesticide usage, railroad alignments/spills, industrial parks, orchards, etc.). • Conduct a limited site reconnaissance to observe current land use and indications of potential contamination at the site, and to view publicly accessible portions of the adjacent properties.
• Review owner representative provided information, if available, regarding past and present operations conducted on the property to assess the potential for RECs.
• Review historical aerial photographs, topographic maps, and soil maps of the site and surrounding properties for indications of site use and potential sources of contamination.
• Perform federal, state, and county records review for indications of the use, misuse, or storage of hazardous and/or potentially hazardous materials on or near the site. The federal, state, and county database search will be provided by a professional record check service.
• Based on the results of the database search, site review, land use and existing assessments, EMI will determine the risk of potential hazardous materials within and adjacent to the project area.

03/06/2024 12

• Prepare a report summarizing the findings of our review, site reconnaissance, property owner interviews, historical photograph evaluation, and regulatory records review. We will address identified potential contamination and hazardous material impacts to provide recommendations and determine additional investigation and analysis.

EMI will submit a draft ISA Report for review and comment prior to the final submittal.

Deliverables:
• Draft Initial Site Assessment
• Final Initial Site Assessment
Assumptions
Task 3.4 has been prepared using the following assumptions:
• Geotechnical investigation is allowed between 9 AM and 4 PM on weekdays. • No investigation of hazardous materials. If hazardous materials are encountered during the geotechnical field investigation, EMI will terminate our work and notify Mark Thomas.
• Environmental clearance for accomplishing the field work, if required, will be obtained by others. Archaeological, cultural, and biological reviews or studies, if required, will be performed by others.
• Boring depths for bridge supports are based on the assumption that small diameter (24-inch or less) CIDH piles will be used at the abutments and large diameter (72-inch or less) CIDH piles will be used at the bents.
• Boring locations and top-of-borehole elevations will be surveyed by others and the information will be provided to EMI.
• No permit fee was assumed for the City of Roseville encroachment permit. $3,000 was allocated for County well permit.
• Railroad entry permit fee and insurances are not included. • City will cover the cost for EIC/Flagman to work in UPRR Right-of-way, if needed. • Site-specific traffic control plans are not required; WATCHBOOK will be used for traffic control plans.
• No time-history or site-specific ground response analyses. • No recommendations for any other retaining walls, sound walls, RCBs/culverts, overhead signs, and soil infiltration rates.
• No pavement coring and no pavement rehabilitation recommendations.

3.5 Drainage Report
Drainage Report and Stormwater Calculations
BEN|EN will develop a drainage study using the Rational Method and HEC-RAS to analyze the existing drainage facilities and drainage patterns in the area and to determine the proposed facilities needed to effectively manage roadway runoff and accommodate the proposed improvements. BEN|EN will prepare two separate reports for Caltrans and the City respectively.

03/06/2024 13

Where applicable, BEN|EN will map the existing storm drainage system from surveys and information from the City and Caltrans. Proposed drainage shed areas will be developed from topography, field reviews, and the proposed roadway improvements in the project area. Soil infiltration rates will also be considered when developing recommendations for treatment improvements. Tributary areas will be defined, and flow rates calculated for inlets and pipelines. The calculations will define pipe/culvert lengths, sizes, peak flow velocities, and hydraulic grade lines. The report will be submitted separately to the City and Caltrans for approval.

Draft and Final Storm Water Data Report will be prepared for Caltrans. The report will be submitted to Caltrans for approval.

Assumptions:
• Project proposed more than 1 acre of impervious surface • Project will result in NNI area of more than 10,000 SF within Caltrans right-of-way.

Long Form SWDR is required.

Deliverables:
• Draft and Final City Roadway Drainage Report
• Draft and Final Caltrans Roadway Drainage Report
• Draft and Final Storm Water Data Report
• West Placer Post-Construction Storm Water Quality Plan and Calculations

3.6 Planting and LID Concepts
Mark Thomas and Bennett Engineering will prepare Planting and LID concepts in the project area for the City to review. LID concepts will be developed in conformance with the West Placer Storm Water Quality Design Manual.

3.7 Draft GADs
Based on the results of the Traffic Analysis and a conceptual alignment review, Mark Thomas will prepare Geometric Approval Drawings (GAD’s) for the Blue Oaks Boulevard and Bridge Widening Project. The geometrics will include traffic operations data, with basic controlling geometric features shown.

The Geometric Drawings will be prepared at a scale of 1” = 100’, will show roadway alignments, lane and shoulder widths, stationing and ties, cut/fill lines, intersection details, etc. Profiles and traffic volumes will also be shown.

3.8 Architectural Feature Concept Design
Mark Thomas will prepare a concept plan to communicate the basic options for the architectural features on the proposed grade separation. This plan will serve to support a ballpark cost estimate and determine aesthetic design concept options, potential landscape planting, and potential monument locations. For vertical planes, two options will be developed: one based on the aesthetics of the Roseville Parkway Extension bridge (currently under construction), and one unique for Blue Oaks Boulevard and vetted through discussions with City staff. For grade separation median pavement treatments,

03/06/2024 14

three options will be developed: one based on the Roseville Parkway grade separation, one using the City’s standard median pavement treatment, and one unique for Blue Oaks Boulevard and vetted through City staff. For the concrete embankments under the new bridge, two concept options unique to Blue Oaks Boulevard will be developed for review and consideration by the City. The final concepts will be included in a Technical Memorandum and will serve as the basis for developing detailed aesthetic concepts in the final design of the project. No visual simulations or 3D modeling is anticipated.

3.9 Structure Advance Planning Studies
Mark Thomas will prepare Structure Advance Planning Studies (APS) for the proposed grade separation; a total of two (2) alternatives will be studied. As part of the preparation of the APS’s, Mark Thomas will perform the necessary preliminary engineering to justify the proposed bridge types, develop an APS for the structure per UPRR design requirements, and develop a cost estimate for the structures work. The estimate will be prepared in the usual format for bridge projects.

3.10 Alternative Analysis Memo
Mark Thomas will summarize the information in Tasks 3.9 through 3.11 into a summary memo that documents concepts, construction costs, environmental constraints, and construction impacts. An initial recommendation for alternatives to be carried through the environmental document will be made.

3.11 Develop Right of Way Needs
Based on the 30% design and preliminary utility relocation plan, Mark Thomas will identify and delineate the right of way needs for the project. This may include fee acquisitions for widened roadways, re-establishment of landscape and sidewalk easements, and re-established easements for planned utility relocations.

3.12 Property Acquisition Impact Exhibit
Based on the right of way needs developed in Task 3.12, Mark Thomas will prepare a property acquisition and impact exhibit for city review. The exhibit would reflect the anticipated right of way needs, impacts to private properties (utility connections, signs, parking, landscaping, etc). The exhibit can be used to develop preliminary right of way capital and support costs for acquisitions which will be prepare by others.

3.13 Prepare 30% Plans and Estimate
Mark Thomas will complete 30% plans, estimates, and supplemental materials for the project. 30% Plans will be based upon the preferred alternative selected in the GADs and Structure APSs. These designs will be advanced to the 30% level and will include roadway plan/profile information, bridge General Plan, superelevation, location of proposed sidewalks, driveway conforms, traffic signal locations, crosswalks, landscape improvements, median pavements, and retaining wall layouts. Additional information for the UPRR “B” submittal will be included.

03/06/2024 15

Kimley-Horn will request the following information from the City for the purposes of preparing design plans for the traffic signal, ITS/communications, and lighting improvements:
• As-built improvement plans (PDF and CAD if available) • City Utility information (CAD or GIS)
• Electrical service information from Roseville Electric • Special Provisions template from recent similar traffic signal project • Right-of-Way information (CAD)
Kimley-Horn will prepare conceptual (30% Design) Plans and a preliminary Opinion of Probable Construction Cost (OPCC) for traffic signal modifications and ITS/communications at the six (6) signalized project intersections and along the Blue Oaks Boulevard corridor between Woodcreek Oaks Boulevard and SR-65 Southbound Ramps/Washington Boulevard. The improvements will be designed in accordance with applicable published City of Roseville policies, procedures, manuals, and standards at the onset of this project.

3.14 B Submittal to UPRR and Respond to “A” Comment s
If not previously submitted as part of normal coordination activities, the Response to UPRR “A” comments will be included.

Formal responses to UPRR and City comments will be provided. If needed, a comment resolution virtual meeting will be held prior to formal comment resolution submittal.

3.15 California Public Utilities Commission Crossing Application The California Public Utilities Commission is charged with the public safety of railroad – highway crossings. The grade separation will require the City to submit a formal application to the CPUC, which will ultimately result in a decision by the Commission that the crossing is acceptable. During the development of the design, the project team will meet on site in a diagnostic meeting with the CPUC, the UPRR, and other stakeholders to identify key issues to be addressed by the project design. When the design has been developed and the CEQA document has been approved, the application will be submitted accompanied by a scoping memo which will indicate the category of the application, discuss whether hearings are expected to be necessary and describe the issues that the CPUC needs to consider in approving the crossing. The application will describe the grade separation and present reasons why it is necessary. It will have three Exhibits. Exhibit A will be a vicinity map of the grade separation. Exhibit B will contain a drawing of the grade separation showing the plan, a profile of the street and a profile of the tracks. Exhibit C will be a legal description of the crossing. Mark Thomas will prepare the CPUC Crossing Application
Task 3 Deliverables
• Draft and Final Traffic Analysis
• Draft and Final Geotechnical Analysis and Report and LOTB’s • Draft and Final Initial Sight Assessment

03/06/2024 16

• Draft and Final City Roadway Drainage Report
• Draft and Final Caltrans Roadway Drainage Report
• Draft and Final Storm Water Data Report
• West Placer Post-Construction Storm Water Quality Plan and Calculations • GAD’s
• Bridge Aesthetics Technical Memorandum
• Structure APS’s
• Draft and Final Alternative Analysis Memo
• Draft Plating and LID Concepts Plan
• Property Acquisition Impact Exhibit
• 30% Plans and Estimates
• UPRR “B” Submittal
• CPUC Crossing Application

4.0 UTILITY COORDINATION
Using the information obtained from the Utility companies in Task 2, Mark Thomas will identify utility conflicts with the proposed work. This will include preparing Utility “A”, “B” and “C” letters along with Notice to Owners, Reports of Investigations, Utility Conflict Maps, Utility Agreements, and Utility Certification to satisfy Caltrans requirements. Once completed, Utility Certification packages will be sent to the City and Caltrans for approval and included in the Right of Way Certification package.

4.1 Request for Utility Identification (A Letters)
Mark Thomas and team will send Utility “A” letters with Project location/limit map with a City approved letter requesting verification of the location, size, and depth of each facility within the Project area. Mark Thomas shall identify all public or private utilities that may be affected by Project and identify utilities requiring relocation.

Deliverables:
• Utility “A” Letters
• Utility Tracking Matrix

4.2 Meeting with Roseville Electric & General Utili ty Coordination Mark Thomas will meet with Roseville Electric to discuss proposed improvements.

4.3 Identification of Conflicts (B Letters)
Once the existing utility information is compiled, Mark Thomas will map the existing utilities and prepare a summary of utility impacts and proposed resolutions. Subsequent Utility “B” and “C” letters with Project plans will be sent to the respective utility companies. Verification maps and conflict maps will be included as part of this task.

03/06/2024 17

Deliverables:
• Utility “B” and “C” letters
• Verification Maps
• Conflict Maps
• Summary of impacts and resolutions

4.4 Utility Adjustment/Relocation Coordination
For existing utilities that need to be adjusted or relocated, Consultant shall coordinate with utility companies for final utility relocation plans and construction schedule for the relocations prior to or during Project construction. Mark Thomas will coordinate and complete required utility agreements.

Assumptions:
• A total of two (2) draft utility agreements
Deliverables:
• Utility Relocation Plans

4.4 Prepare Utility Certificate
LAPM Utility Process
Federal funding may be used for construction, necessitating uses of Caltrans Local Assistance Coordination Procedures. Our team will prepare a Report of Investigation (ROI) document that identifies the City’s liability for relocation costs. During final design, we will request relocation plans from utility companies requiring relocation. Once the owner concurs with the liability listed in the ROI, the City will then issue a Notice to Owner (NTO) that clearly defines the impacted facility, owner’s conflict resolution plan, estimated completion date, and liability. If monies will exchange hands or the City is liable for any portion of the relocations, a Utility Agreement (UA) will also need to be prepared and sent to the owner with the NTO. We know from prior projects that we will need to obtain Federal Highway Administration (FHWA) approval for the utility agreements for City owned utilities.

The ROI, NTO, and UA will need to be sent to the Caltrans District Utility Coordinator for review and approval, prior to sending the documents to the utility owner. Therefore, the team will prepare the necessary utility documents for Caltrans review and approval.

Should any relocation of private utility facilities be required, it is assumed that we will coordinate with private utility companies for proposed relocation within existing or new City right-of-way. In addition, it is assumed that no new water or sewer facilities will be constructed as part of the project.

Assumptions:
• A total of two (2) draft utility agreements

03/06/2024 18

Task 4 Deliverables
• Utility "A", “B” and “C” Letters
• Utility Tracking Matrix
• Summary of impacts and resolutions
• Verification Maps
• Utility Conflict Maps
• Utility Relocation Plans
• Notice to Owner
• Report of Investigations
• Utility Agreement/Certification Packages

5.0 ENVIRONMENTAL

5.1 Prepare Project Description
ICF will work with the project team to prepare a project description that will be used as the basis for the CEQA IS and subsequent environmental document.

5.2 Conduct Technical Studies
As part of this subtask, ICF will prepare the following “key” technical studies/analyses to support the CEQA document and ensure that the project complies with the mitigation measures identified in the General Plan 2035 EIR (the traffic study and CEQA analysis will be provided by Kimley-Horn).

Biological Resources
The biological resources study will focus on the undeveloped portions of the project where road widening activities are proposed and will be consistent with the General Plan 2035 EIR biological resources mitigation measures. The biologist will document baseline conditions to support the Subsequent IS/MND and will identify the need for additional reports to support future permitting efforts (e.g., Aquatic Resources Delineation Report and if necessary, a Biological Assessment). If additional reports are necessary for permitting or to support the federal funding (NEPA), they will be covered as part of the optional NEPA task.

Cultural Resources
The cultural resources study will focus on the same undeveloped portions of the project as described above for biological resources and will be consistent with the General Plan 2035 EIR cultural resources mitigation measures.

Noise

ICF will evaluate construction and operational impacts under CEQA and mitigation measures for consistency with the General Plan 2035 EIR.

03/06/2024 19

Air Quality
ICF will prepare the AQ and GHG sections of the Subsequent IS/MND. This scope of work does not include preparation of any other deliverables (e.g., Air Quality Report). ICF will quantify construction emissions associated with the project using the most recent version of the California Emissions Estimator Model (CalEEMod) and construction data provided by the City. Estimated construction emissions will be compared to the Placer County Air Pollution Control District (PCAPCD) emission thresholds. If emissions are found to be significant, mitigation measures will be developed and quantified to the extent feasible to address identified impacts.

This scope of work assumes the project will increase vehicle traffic and regional vehicle miles traveled (VMT), because it is widening of a roadway. We will use traffic data provided by the traffic engineer to estimate changes in criteria pollutant and greenhouse gas (GHG) emissions in the project vicinity related to implementation of the proposed project. Regional emissions relative to existing and no project conditions will be compared to applicable emission thresholds recommended by PCAPCD.

Potential health effects from increased criteria pollutant emissions generated during construction and operations will be assessed using the Sacramento Metropolitan Air Quality Management District’s (SMAQMD) regional Friant Ranch Guidance, which is applicable in Placer County. The primary toxic air contaminants of concern are naturally occurring asbestos (NOA) and mobile source air toxics (MSAT), including diesel particulate matter (DPM). The potential for NOA disturbance during construction will also be documented based on mapping from the U.S. Geological Service. Compliance with the City of Roseville’s best management practices to control emissions of fugitive dust from construction activities will be discussed. This scope of work includes a qualitative assessment of potential health risks from construction-generated DPM. The analysis will consider the duration of construction activities at a single location, as well as any proposed reduction measures for diesel exhaust. Operation of the project is anticipated to increase average daily traffic near receptors. However, this scope assumes average daily traffic (ADT) on Blue Oaks Boulevard will not exceed 50,000 and the road will not serve a significant (more than 5% of ADT) number of diesel-powered vehicles.

Accordingly, operational health risks from DPM will be assessed qualitatively.

The CEQA determination for greenhouse gases will consider the net change in emissions relative to existing conditions and relevant guidance from PCAPCD. Additionally, ICF will qualitatively evaluate the project’s consistency with local and statewide climate change policies, including Senate Bill 32, Assembly Bill 1279, and SACOG’s Regional Transportation Plan.

Visual
The visual analysis will evaluate aesthetic resources and resource change and viewer groups and viewer responses associated with the project and evaluate potential visual impacts. A site visit will be conducted to understand existing visual conditions and to photograph the site. No photo simulations or graphics will be prepared.

03/06/2024 20

5.3 Prepare Initial Study Checklist and Subsequent Mitigated Negative Declaration
ICF will prepare the IS Checklist using the current checklist from Appendix G of the CEQA Guidelines. For the purpose of this scope of work, we have assumed that a Subsequent MND with Mitigation Monitoring and Report Plan (MMRP) will be the most appropriate level of CEQA compliance documentation. This task involves the following:
• Prepare an administrative draft document suitable for distribution to the agencies and the public in compliance with requirements of CEQA and the City. ICF will tier the administrative draft analysis, where applicable, from the General Plan 2035 EIR. • Prepare the public draft document and submit the document to the State Clearinghouse on the City’s behalf electronically. The City will have to request from the State Clearinghouse that ICF be able to submit environmental documents on their behalf. ICF will prepare the State Clearinghouse Notice of Completion form and the Environmental Document Transmittal form timed in accordance with the schedule for the public review and comment period. ICF will also prepare the Notice of Intent with input from the City.
• Support AB52 consultation with the Native American Tribes. • Prepare responses to all written comments received on the document and include them as an appendix in the final Subsequent MND.
• Prepare draft and final Mitigation MMRP.
• Maintain administrative record (i.e., references, correspondence, etc.) ICF will provide all deliverables listed in the RFP. If the IS checklist determines that an Addendum is the appropriate document, ICF will prepare a scope modification.

5.4 Transportation/VMT
VMT Assessment
Kimley-Horn will perform an evaluation of the Proposed Project’s impact on Vehicle Miles Traveled (VMT). The Proposed Project’s effect on VMT will be evaluated in a manner consistent with the City’s 2035 General Plan Update and related VMT Impact Studies guidelines, and to a lesser degree the December 2018 guidance provided by the Governor’s Office of Planning and Research (OPR) 1 as pertains to Senate Bill 743 (SB 743).

Although the project is understood to be a capacity-enhancing roadway project, it was confirmed to have been previously anticipated and comprehensively evaluated within the City’s 2035 General Plan. Accordingly, Kimley-Horn will perform a limited, qualitative VMT assessment as required by the City’s VMT Impact Studies guidelines.

1 Technical Advisory on Evaluating Transportation Impacts in CEQA. Governor’s Office of Planning and Research, State of California. December 2018.

03/06/2024 21

TIA Technical Analyses
A weekday AM and PM peak-hour Level of Service (LOS) and queuing analysis will be conducted for the following scenarios:

A. Existing (2024) Conditions
B. Existing (2024) plus Proposed Project Conditions +
C. Cumulative (2035) plus Proposed Project Conditions ++

+ “Proposed Project” refers to the addition of the additional westbound through lane along Blue Oaks Boulevard and associated access considerations in the vicinity of the Alantown Drive/Fidelity Way intersection. Analysis includes a single access/volume scenario to be collaboratively defined with the City and project team.
+ + Scenario considers the “2035 Cumulative Unconstrained Conditions” as documented in the 2035 General Plan Update.

The LOS analysis will be completed for up to nine (9) study intersections (7 signalized, 2 unsignalized), all of which are assumed to be within the City of Roseville. The final list of study facilities will be developed in coordination with the project team. Volumes for Cumulative (2035) Conditions will be obtained from the 2035 General Plan Update. This Scope of Services does not include manipulating the City’s long-range transportation planning model.

The primary focus of this LOS and queuing analysis is quantifying the effect of the additional through lanes and turn lane (left and right) modifications, and the resulting operational conditions achieved through these improvements. The 2024 and 2035 “without and with” the Proposed Project conditions are necessary to establish current/forecast volumes and a baseline against which the Proposed Project’s specific geometry operating characteristics will be compared.

LOS and queuing will be determined for the time periods and analysis scenarios listed above. LOS and queuing for each scenario will be determined using methods defined in the Highway Capacity Manual, using appropriate traffic analysis software (Vissim).

Documentation
Efforts completed in this Task will be documented in technical report format with graphics as deemed appropriate by Kimley-Horn. We will prepare and submit electronic copies of the following deliverables to the project team:
• Administrative Draft IS/MND – comprehensive traffic study in a format determined by the environmental consultant, including technical appendices • Public Review Screen Check IS/MND – incorporation of a reasonable number of consolidated, non-conflicting clarification comments on the Administrative Draft • Public Review Draft IS/MND – incorporation of a reasonable number of consolidated, non-conflicting clarification comments on the Public Review Screen Check

03/06/2024 22

• Final IS/MND – responses to public comments and incorporation of a reasonable number of consolidated, non-conflicting clarification comments on the Public Review Draft

5.5 Caltrans Technical Studies and NEPA Document
The Mark Thomas team will work closely with the City to prepare the required technical studies to support a NEPA document and associated state and federal permit applications (if permits are required). Based on our team’s extensive and recent experience in the City and working with Caltrans District 3 staff, we have developed a scope of work that we believe will support the City from project development to project delivery.

If the City successfully secures federal funding for the project, Caltrans (as the NEPA lead agency, on behalf of FHWA) will require a variety of technical studies to support the NEPA document (likely an Environmental Assessment [EA]). The ICF team (with support from our DBE partner, Area West Environmental) will prepare the required PES form to identify potential project effects and the required Caltrans level of study reports. After the City reviews the draft PES form, ICF will coordinate with the assigned Caltrans planner and organize a field visit to support review of existing conditions and obtain approval (signature) of the PES form and required studies. ICF will prepare administrative draft, draft, and final versions of the technical reports and NEPA document. We anticipate this optional task would involve the following tasks to prepare the project for federal funding.

3.4.3 Laboratory Testing

5.5.1 Prepare Preliminary Environmental Study (PES) Form The PES will include a description of the project (including preliminary design and construction-related information), purpose and need, regional and project location maps, engineering drawings and project footprint, and an analysis of the potential environmental effects associated with the proposed project. ICF will work with the City to determine the required technical studies and analyses that may be required by Caltrans to support the NEPA document.

5.5.2 Conduct Caltrans Technical Studies
Based on our review of the project site, we anticipate the PES will indicate that the studies listed below will be necessary. If the signed PES form indicates that some of these studies are not necessary or other studies are required, we will revise the scope of work and hours estimate or shift the hours to other tasks that may arise during the project.
• Natural Environment Study-Minimal Impact (NES-MI) Report (cost assumes no Biological Assessment will be required because suitable habitat for federally listed species is either not present or can be avoided through design/construction measures.
• Wetland Delineation/Assessment

03/06/2024 23

• Cultural Resources Report including Area of Potential Effect (APE) map, Historic Preservation Survey Report (HPSR), and Archeological Survey Report (ASR) • Noise Study Report Noise Study Report (NSR) and Noise Abatement Decision Report (NADR). To characterize existing conditions and provide validation for noise modeling, ICF would conduct a field study to measure existing traffic noise levels in the project area. Continuous long-term noise monitoring for at least 24 hours will be conducted at up to three locations in the study area and short-term attended monitoring (15 minutes per site) will be conducted at up to six locations.
• Air Quality Study Report
• Visual Impact Assessment (VIA) Memorandum (based on the preliminary checklist ICF completed to support this scope)
• Section 4(f) Evaluation (to be confirmed, but may not be required) • Land Use and Community Impact Assessment
• Traffic Study (led by Kimley Horn)
• Initial Site Assessment (Phase 1 led by Mark Thomas)

5.3 Support NEPA EA
ICF/Area West Environmental will support Caltrans preparation of the NEPA EA for the project, including compliance with Section 106 of the NHPA and the federal Endangered Species Act.

Assumptions
• NES-MI
o Only the “Areas to be Impacted by Project” as shown in the RFP map (page 28 of 54) will be surveyed for special-status plants. o The BSA will be up to the edge of developed area or out 250 feet where no development is present.
o City will provide access to areas to be surveyed or will provide exiting biological resources data from proposed developments in the BSA. o Surveys from UPRR properties will not be required, any resource mapping can be done from adjacent parcels with permits to enter provided by the City.
o Up to two botanical surveys are required, no protocol-level surveys for wildlife are required.
• Aquatic Delineation Report
o Only the “Areas to be Impacted by Project” as shown in the RFP map (page 28 of 54) will be delineated.
• Visual Impact Assessment
o No photo simulations are required. If project simulations are required, Mark Thomas will prepare in Civil 3D.
o No more than 7 key views would be evaluated.
• NEPA EA

03/06/2024 24

o ICF will provide the completed CEQA document and supporting technical studies in advance of preparation of the NEPA EA.
o NEPA EA Environmental Project Manager will attend up to 3 community or CTS meeting/workshops conducted for the CEQA document. o Up to 1 online virtual meeting will be required for the NEPA EA. o All final technical studies (noise, air quality, GHG, transportation, CIA, NES(MI), visual, water quality/hydrology, cultural) will be provided in advance of preparation of the NEPA EA.
o Up to 10 PDT meetings will be required.
o Response to comments received do not require new environmental analysis.
o No more than 40 hours will be required to respond to comments received from Caltrans on the Administrative Draft EA.
o No more than 40 hours will be required to respond to comments received from the public on the public Draft EA.

6.0 PUBLIC OUTREACH
Mark Thomas will attend two City sponsored workshops, one Transportation Commission meeting and one City Council meeting.

We assume the City will develop outreach materials for the Public meetings, Transportation and Council meetings and to inform the community about the project.

These materials may include hand-outs such as information brochures, comment cards, fact sheets, and FAQ’s, etc.

7.0 FINAL PROJECT DESIGN
Mark Thomas will complete the design tasks for final plans, specifications, and estimates for the project design. Plans shall be prepared to City format and shall be submitted at the 60%, 90%, 100% and final stages of design. Following each design submittal, City comments will be reviewed and addressed.

7.1 60% Design
Mark Thomas will prepare Roadway Plans to current City and Caltrans standards using Civil 3D and AutoCADD.

For the Utility Plans & Details, all specific details necessary for the relocation of any affected utilities will be designed and provided to Mark Thomas by the utility owner. The scope and cost proposal assume a minimal effort by Mark Thomas for utility plans and generally include drafting of utility information provided by the utility company.

03/06/2024 25

It is anticipated that the following sheets will be prepared for the 60%, 90% and 100 submittals.

Civil Sheet Count Quantity 30% Final*
Title Sheet
Roadway Typical Cross Sections
Construction Control Diagram/ Key Map
Roadway Plan & Profile @ 40-scale
Demolition and ESA Plans & Details
Construction Details
Contour Grading
Temporary WPC Plans
Roadway Drainage Plans, Profiles
Roadway Drainage Details
Retaining Wall Plans and Details
Utility Plans and Details
Signing & Striping Plans
Stage Construction Plans
Traffic Handling Plans
Erosion Control Plans
Stormwater Green Plans and EC Details
Planting and Irrigation Plans (20-Scale)
Traffic Signal Plans and Details
Fiber Optic Interconnect Plans and
Details

Total Roadway Sheets
1 4
1 20
20 12
4 10
10 2
4 10
10 10
2 10
3 21
6 3

163
√
√

√

√

√

√

√
√
√

79 √
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√

163

03/06/2024 26

We have assumed the bridge will be a 3-span precast concrete girder. The structure design will be in accordance with AASHTO LRFD Bridge Design Specifications, 8th Edition with the California Amendments and Caltrans Seismic Design Criteria, Version 2.0. The 2022 Caltrans Standards and current versions of the Caltrans Structure Technical Policies and Bridge Design Manuals will be used. It is anticipated that the Structures Plans will consist of the following sheets:

Structure Sheet Count Quantity 30% Final*
General Plan
Notes / Index
Foundation Plan
Abutment Layout
Abutment Detials
Bent Layout
Bent Details
Typical Section
Girder Layout
Girder Details
Deck Plan
Miscellaneous Details
Bearing
Deck Drainage Details
Structure Approach
Abutment Drainage
Railing Details
Architectural Treatment
Structure Lighting Plans
Log of Test Borings
Total Structure Sheets
1 1
1 2
2 1
3 1
1 2
1 2
1 1
1 1
1 2
1 2
28 √

√

2 √
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
28 7.2 90% PS&E (City), 100% PS&E UPRR)
Independent Check (90%)
Under this task, Mark Thomas will review comments from the City 60% review and incorporate the comments into the 90% PS&E submittal. Quality Control reviews will be performed before submittals to the City.

Structure independent checks will follow standard Caltrans practice which involves having a registered professional engineer who is independent from the project to structure designs, plan preparation, and quantity estimates. Differences in the calculations will be reconciled first before the 90% plans are submitted to the City and UPRR for review and approval. Design team members will respond to the independent check comments and will provide a written memo outlining resolutions to all the check

03/06/2024 27

comments and design discrepancies. Bridge designers will reconcile the check comments on the quantity checks in accordance with Caltrans Bridge Design Aids Section 11 “Estimating”.

Also, at this time Mark Thomas will complete a set of Special Provisions. Upon completion of the independent check, Mark Thomas shall prepare quantity calculations.

From these quantity calculations, Mark Thomas shall prepare an Engineers Estimate and submit the 90% PS&E (Plans, Specifications, and Estimate). Construction costs for the estimate will be developed using current bid results from similar projects, Caltrans database information and from Caltrans' latest Construction Cost Manual. All estimates shall be done in Caltrans BEES format using MS Excel.

A bound set of independent design calculations will be prepared for each bridge structure and submitted to the County and Caltrans for review during the 90% Submittal as indicated within this scope of work.

The independent design check will also include a thorough review of the bridge construction plans to ensure that the plans accurately reflect the design intent.

General Cross Sections
General cross sections will be developed at 1”=10' scale and will be placed on a grid showing the existing ground, surface geometry, elevations, edge of pavement, existing/proposed fence lines, subgrade and finished surface. The conform elevation will be plotted on the cross sections. The cross sections will be created every 50 feet.

Specifications
The Mark Thomas team will prepare Special Provisions for inclusion within the contract documents. The special provisions (SSPs) will follow City standards and will be based upon current Caltrans Standard Special Provisions and Standard Plans. It is assumed that the City will provide the General Provisions to be included in the specification package; Mark Thomas will review and update references for use of the special provisions (i.e. establish hierarchy for which documents take precedence, coordination of bonding and insurance requirements, etc).

Construction Cost Estimates
Mark Thomas will prepare an updated itemized engineer's estimate for the 60% (Roadway Items only), 90% and final stages for the project. The format will be similar to the Caltrans BEES format. The unit costs will be determined by reviewing similar recent project bid summaries, the most current Caltrans Contract Cost Data book, the California Highway Construction Cost Index information, and the Caltrans ESC site.

Structures Final Submittal (100% Plans)
Upon receiving comments back from the City on the 90% submittal we will make any required revisions and submit 100% PS&E. This submittal represents a biddable package.

03/06/2024 28

7.3 Constructability Review
We have assumed the constructability review would be conducted at the 90% submittal.

Ideally, this review should be conducted at the 30% for concepts, the 60% for exact design features and again at 90% to provide comments on the final PS&E contents.

7.4 “C” Submittal to UPRR
The 90% City PS&E will be re-labeled for the 100% submittal to UPRR. This will allow time for UPRR review and time to respond to UPRR final comments.

7.5 Draft ROW Certificate to Caltrans
A draft ROW and Utility Certificate will be submitted to Caltrans to obtain approval of the utility protection/ relocations prior to submitting the E-76.

7.6 100% PS&E
This submittal will respond to both City 90% comments and UPRR 100% comments and resubmit 100% PS&E to UPRR. This submittal concludes the design level submittals to UPRR and concludes with an approved C&M Agreement.

7.7 Resident Engineer’s (R.E.) File
Following the identification of construction funding, and upon approval by the City, Mark Thomas will prepare the RE file and Surveyor's file for the project. The RE file will include project correspondence and memorandums that are important for the Resident Engineer to know about decisions, etc. that were made during project development. The Surveyor's file will include pertinent information needed to establish project control.

Caltrans Project Development Manual, latest edition will be used as a guideline.

Construction Staking Notes are not included within this task; should the City want Mark Thomas to prepare staking notes, a separate scope of work and fee will be provided.

Task 7 Deliverables
• Interim PS&E Submittals (60%, 90%,100%) - 30 copies each - Half size plans & PDF • 30 copy & PDF- Specs
• Engineers Estimate - 1 copy & PDF
• Final PS&E (combined Roadway, Structures, 1 copies – mylar, wet signed & Cross Sections) stamped 1 copy – electronic CADD and PDF
• Final Structure Calculations (wet stamped) - 1 copy
• Final Quality Calculations - 1 copy
• Materials Handout - 1 copy and PDF
• RE & Surveyor’s File - 1 copy
• General Roadway Cross Sections - 1 hard copy (1/2 size); 1 PDF • SWPPP - 3 copies and 1 PDF

03/06/2024 29

8.0 BIDDING & CONSTRUCTION SERVICES
Due to the uncertainty of the level of effort required for Construction Support, a budget amount has been provided for bidding assistance that will be used on a time and materials basis as requested by the City. Once construction funding is identified, Mark Thomas will coordinate with the City regarding an amendment for Construction Support.

8.1 Bidding Assistance
This scope assumes that Advertising and the preparation of Bidding Packages will be the responsibility of the City and that reproductions for bid documents are not included.

Mark Thomas will be available to answer questions during the bidding process. Mark Thomas shall be available on an as-needed basis for support during the bid phase.

Assuming only consultation during bidding, the following services could be provided as requested by the City:
• Mark Thomas will attend Pre-bid meeting.
• Answer Contractor questions during bidding stage.
• Provide an analysis of the bid amounts and a recommendation for award • Mark Thomas will attend Pre-construction meeting.

8.2 Construction Support
Mark Thomas shall be available on an as-needed basis for support during the construction phase, including contract administration as required. Assuming only consultation during construction, the following services could be provided as requested by the City:
• Mark Thomas will make periodic site visits. A total of eight (8) site visits are included with this task during construction.
• Mark Thomas will provide change order review and plan revisions as required. • Mark Thomas will provide review of Shop Drawings. Review comments and approvals on these Shop Drawings, and calculations will be provided to the RE. A budget of 60 hours is assumed for review of structure shop plans. • Mark Thomas will provide ongoing consultation and interpretation of contract documents as required and review proposed change orders if requested by Resident Engineer.
• Mark Thomas will review submittals and shop drawings, when requested by the Construction Manager, and provide construction assistance as required.

8.3 Record Drawings
After construction is complete, Mark Thomas, Kimley-Horn and Bennett Engineering will prepare Record Drawings based upon one consolidated and non-conflicting red-line plans provided by the contractor. The team will rely on the completeness and accuracy of the documents provided by the contractor.

03/06/2024 30

Task 8 Deliverables
• Meeting Notes
• E-mail responses to RFI’s
• Submittal Reviews (as negotiated)
• Record Drawings in AutoCAD

9.0 Optional Tasks

9.1 Highway JPA Fee Program
Mark Thomas will coordinate the City's Blue Oaks Widening Project with Placer County Transportation Agency (the agency developing the Highway JPA Fee Program) and review the plans for conflict with the proposed project.

9.2 Westbound Bridge (3-Lanes)
Kimley-Horn will complete a traffic analysis of a 3-lane westbound Blue Oaks Boulevard bridge at a level of detail consistent with analyses completed for the various project options identified in Task 2.1. While prior tasks included screening the feasibility of a 3- lane westbound bridge, this task includes a focused weekday AM and PM peak-hour intersection operations analysis for up to seven (7) signalized intersections. Additional consideration will be given to side-street access and operations at up to two (2) unsignalized intersections. These analyses will include delay, Level of Service (LOS), and queuing for the following scenarios:
• Existing (2024) plus Proposed Project (3-Lane Bridge) Conditions +
• Cumulative (2035) Conditions ++
• Cumulative (2035) plus Proposed Project (3-Lane Bridge) Conditions +

+
Scenario considers a new 3-lane westbound Blue Oaks Boulevard bridge for a single “plus project” condition
++ Volumes for this scenario will be developed by completing a new model run using the City’s travel demand model in which the westbound capacity will be reduced from 4-lanes to 3-three.

The study intersections for this task will match those previously analyzed. LOS will be determined using methods defined in the Highway Capacity Manual, using appropriate traffic analysis software (Vissim) and analysis procedures consistent with the City’s current, published guidelines.

Efforts completed in this task will be documented in technical memorandum format with graphics as deemed appropriate by Kimley-Horn. We will prepare and submit an electronic (PDF) version of the Draft Memorandum to the City. Kimley-Horn will respond to a single set of consolidated, non-conflicting comments from the City on the Draft Memorandum. We will prepare and submit an electronic (PDF) version of the Final Memorandum to the City.

03/06/2024 31

9.3 Sight Distance Improvement Recommendations
Mark Thomas will evaluate options for improving sight distance along Blue Oaks Boulevard, while preserving the existing bridge, to enhance safety along the roadway. As Blue Oaks Boulevard is a major arterial, City Standards require a design speed of 60 mph which translates to 580 feet of stopping sight distance. The existing curve at the bridge results in a design speed of 36 mph based on the Caltrans HDM (which is required per the City’s Design Standards). Evaluating the curve based on AASHTO standards results in an existing design speed of 43 mph. As such, the existing profile of the road does not meet either Caltrans or ASSHTO standards for a major arterial roadway.

9.4 Water Line Relocation
Mark Thomas team will evaluate if any water lines are affected. If needed, the Mark Thomas team will provide a detailed scope to design and provide all details necessary for the relocation of any waterline. For budgeting purposes we've included a design cost of $44,589.

[\\Rosenet\rosenetdfs\CITY ATTORNEY\CYCOM\WPDOCS\D002\P006\00085913.DOCX;05/21/2024]

EXHIBIT “B”
PrincipalEngineering ManagerSr. Project ManagerProject ManagerTechnical LeadSr. Project EngineerDesign Engineer IIDesign Engineer ISr. TechnicianTechnicianInternSurvey Division ManagerSurvey Manager IIProject Surveyor IIAsst Surveyor IISurvey Specialist IIILead Survey TechnicanSurvey Technician II2-Person Crew (OE3)*LAUD Division ManagerLAUD Project ManagerLandscape ArchitectLandscape Designer IIResident EngineerFunding ManagerSr. Project AccountantSr. Project CoordinatorSr. Graphic ManagerSr. Graphic DesignerAIMBennett EngineeringEarth MechanicsICFArea West (Sub to ICF)Kimley-HornKnight CM Group$490 $298 $264 $214 $214 $168 $142 $115 $145 $97 $66 $318 $242 $192 $136 $211 $157 $126 $328 $259 $211 $148 $117 $254 $276 $146 $145 $173 $148 DBE DBE DBE Non-DBE DBE Non-DBE DBE 1.0PROJECT MANAGEMENT/MEETINGS1.1 General Project Management 25 140 20 20 50 100 140 495 $106,853 - - - 5,317 23,775 - $135,9451.2 Agency Coordination/PDT Meetings 80 80 4 12 12 188 $42,631 - - - - - 26,663 - $69,2941.3 Meetings/Coordination with Caltrans 4 24 50 30 4 112 $25,696 - - - - - - - $25,6961.4 UPRR & CPUC Coordination 0 $0 - - - - - - - $01.4.1 Right-of-Entry Agreement 2 10 10 60 82 $14,160 - - - - - - - $14,1601.4.2 UPRR Easement Requirements 2 10 10 60 82 $14,160 - - - - - - - $14,1601.4.3 Construction and Maintenance Agreement (C&M) 2 10 10 60 82 $14,160 - - - - - - - $14,1601.4.4 California Public Utilities Commission Crossing Application 2 20 10 60 92 $17,143 - - - - - - - $17,1431.5 Project Schedule 12 24 8 24 68 $19,175 - - - - - - - $19,1751.6 Quality Control 140 40 80 75 25 25 16 401 $92,599 - - - - - 10,544 - $103,1431.7 Funding Assistance/Local Program Compliance 16 16 20 10 12 8 82 $21,986 21,902 - - - - - - $43,888Subtotal Phase 1 65 474 68 0 150 319 265 25 0 0 0 0 0 0 0 0 0 0 0 20 16 12 0 0 10 100 140 12 8 1684 $368,563 $21,902 $0 $0 $5,317 $0 $60,982 $0 $456,7642.0 DATA COLLECTION, MAPPING, SURVEYS2.1 Caltrans Encroachment Permit 8 24 40 72 $14,235 - - - - - - - $14,2352.2 Control Surveys 2 8 16 8 48 8 90 $23,636 - - - - - - - $23,6362.3Mobile Terrestrial LiDAR Scan8 12 4 8 12 24 16 80 164 $27,568 - - - - - - - $27,5682.4 Supplemental Topographic Surveys 2 2 8 20 12 56 56 8 164 $35,216 - - - - - - - $35,2162.5 Record Right of Way 4 8 2 4 16 24 16 16 4 94 $18,137 - - - - - - - $18,1372.6 Boundary Surveys 4 8 4 8 16 24 56 16 136 $24,384 - - - - - - - $24,3842.7 Existing Utility Mapping and Potholing 8 8 40 40 40 8 24 4 172 $29,077 - - - - - - - $29,0772.8 R/W Plats & Legals 8 8 4 4 4 8 32 16 8 96 188 $29,577 - - - - - - - $29,577Subtotal Phase 2 0 40 0 0 24 7840 0 52 44 0 18 44 120 72 24 36 304 160 0 0 0 0 0 0 0 24 0 0 1080 $201,829 $0 $0 $0 $0 $0 $0 $0 $201,8293.0PRELIMINARY ENGINEERING3.1 "A" Submittal to UPRR 16 2 20 24 16 8 20 106 $19,700 - - - - - - - $19,7003.2 UPRR Response to "A" Submittal 16 2 8 20 8 54 $11,505 - - - - - - - $11,5053.3 Traffic Operations Analysis Memorandum 8 40 48 $9,099 - - - - - 92,226 - $101,3253.4 Geotechnical Analysis and Report 2 2 16 16 36 $7,234 - - $172,172 - - - - $179,4063.5 Drainage Report 4 8 12 $2,536 - 85,967 - - - - - $88,5033.6 Planting and LID Concepts 8 16 12 40 76 $13,523 - - - - - - $13,5233.7 Draft GAD's 4 16 46 76 76 8 16 242 $38,039 - - - - - - - $38,0393.8 Architectural Feature Conceptual Design 4 20 4 16 40 84 $15,440 - - - - - - - $15,4403.90 APS's - 2 Alternatives 4 2 40 80 126 $21,881 - - - - - - - $21,8813.10 Alternative Analysis Memo 8 8 40 40 32 128 $20,572 - - - - - - - $20,5723.11Develop Rightof Way Needs4 16 40 16 76 $11,398 - - - - - - - $11,3983.12 Property Acquisition Impact Exhibit 2 4 40 16 40 102 $14,588 - - - - - - - $14,5883.13 Prepare 30% Plans 4 44 80 80 200 300 240 160 18 44 88 1258 $200,906 - 20,581 - - - 31,836 - $253,3233.14 "B" Submittal to UPRR 4 16 2 16 24 16 40 118 $21,583 - - - - - - - $21,5833.15Formal Application to CPUC16 48 40 104 $18,508 - - - - - - - $18,508Subtotal Phase 3 12 168 98 0 200 506 576 428 300 0 0 0 0 0 0 0 0 0 0 0 54 140 88 0 0 0 0 0 0 2570 $426,514 $0 $106,548 $172,172 $0 $0 $124,061 $0 $829,2964.0 UTILITY COORDINATION4.1 Request for Utility Identification (A Letters) 4 8 8 20 $3,672 - - - - - - - $3,6724.2Meeting with Roseville Electric & General Utility Coordination16 40 80 40 176 $27,445 - 47,973 - - - - - $75,4184.3 Identification of Conflicts (B Letters) 4 8 12 $2,536 - - - - - - - $2,5364.4 Utility Adjustment/Relocation Coordination 4 8 12 $2,536 - - - - - - - $2,5364.5 Prepare Utility Certificate 4 8 12 $2,536 - 19,398 - - - - - $21,934Subtotal Phase 4 0 32 0 0 0 72 88 40 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 232 $38,724 $0 $67,371 $0 $0 $0 $0 $0 $106,0955.0 ENVIRONMENTAL5.1 Prepare Project Description 2 4 8 14 $2,404 - - - 5,501 - - $7,9055.2Prepare Caltrans' Preliminary Environmental Study2 4 8 14 $2,404 - - - 10,167 - - $12,5705.2Conduct Technical Studies14 20 40 74 $13,212 - - - 25,042 - - $38,2545.3Prepare Initial Study Checklist and Subsequent Mitigated Negative Declaration16 40 24 16 96 $16,733 - - - 41,494 - - $58,2275.4 Transportation / VMT 2 4 6 $1,453 - - - - 87,271 - $88,7235.5 Caltrans Technical Studies and NEPA Document 0 $0 - - - - - - $05.5.1 Prepare Preliminary Environmental Study (PES) Form 2 4 8 14 $2,404 - - - 3,338 - - $5,7425.5.2 Conduct Caltrans Technical Studies 2 4 8 14 $2,404 - - - 39,078 45,000 - - $86,4825.5.3 Support NEPA EA 4 4 8 16 $3,000 - - - 5,379 80,000 - - $88,379Subtotal Phase 5 0 44 0 4 0 80 104 16 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 248 $44,014 $0 $0 $0 $129,999 $125,000 $87,271 $0 $386,2836.0 PUBLIC ENGAGEMENT6.1Stakeholder Identification & Outreach4 4 8 $1,864 - - - - - - - $1,8646.2Public Open House (3)10 8 4 16 8 16 62 $10,485 - - - - - - - $10,4856.3Transportation Commission (2)4 8 4 4 8 16 44 $7,316 - - - - - - - $7,3166.4City Council Meeting4 2 4 4 4 16 34 $5,617 - - - - - - - $5,617Subtotal Phase 6 0 22 0 0 0 22 12 24 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 20 48 148 $25,282 $0 $0 $0 $0 $0 $0 $0 $25,2827.0 FINAL ENGINEERING & CONSTRUCTION DOCUMENT PREPARATION7.1 60% Design 0 $0 - 64,171 - - - 47,667 - $111,837 7.1.1 Roadway 60% PS&E 40 200 380 480 380 240 100 1820 $260,246 - - - - - - - $260,246 7.1.2 Structure 60% PS&E 60 300 300 240 900 $157,449 - - - - - - - $157,449 COST PROPOSAL FOR PROJECT SCOPE: Roseville-Blue Oaks Blvd Roadway & Bridge WideningTOTAL COSTSubconsultantsTotal HoursTotal MT Cost 3/7/2024

7.1.3 Landscape 60% PS&E 8 32 180 36 256 $39,676 - - - - - - - $39,6767.2 90% Plans (Signed for UPRR Submittal) 0 $0 - 55,091 - - - 35,006 - $90,097 7.2.1 Roadway 90% PS&E 24 160 300 240 320 100 1144 $177,127 - - - - - - - $177,127 7.2.2 Structure 90% PS&E 40 100 200 160 160 120 780 $124,052 - - - - - - - $124,052 7.2.3 Landscape 90% PS&E 6 32 160 24 222 $34,794 - - - - - - - $34,794 7.2.4 SWPP & LID 8 24 40 40 112 $19,915 - - - - - - - $19,9157.3 Constructability Review 50 50 $12,701 - - - - - - 34,720 $47,4207.4 "C" Submittal to UPRR 4 16 16 36 $6,801 - - - - - - - $6,8017.5 Draft R/W Cert to Caltrans 0 $0 - - - - - - - $07.6 100% PS&E 0 $0 - 49,264 - - - 30,391 - $79,654 7.6.1 Roadway 100% PS&E 8 60 80 100 80 40 368 $57,852 - - - - - - - $57,852 7.6.2 Structure 100% PS&E 24 80 40 100 60 60 364 $59,973 - - - - - - - $59,973 7.6.3 Landscape 100% PS&E 4 24 120 40 188 $28,540 - - - - - - - $28,5407.7 Resident Engineers File 4 8 30 8 40 50 140 $23,999 - - - - - - - $23,999Subtotal Phase 7 0 84 136 444 526 1048 1460 1000 626 240 100 0 0 0 0 0 0 0 0 18 88 460 100 50 0 0 0 0 0 6380 $1,003,125 $0 $168,525 $0 $0 $0 $113,063 $34,720 $1,319,4328.0 DESIGN SUPPORT DURING CONSTRUCTION8.1Bidding Assistance8 2 16 40 40 8 114 $19,916 - 5,255 - - - 7,163 - $32,3338.2Construction Support10 2 24 60 40 200 80 40 8 16 480 $75,656 - 18,948 - - - 8,526 - $103,1308.3Prepare Record Drawings2 888 60 60 40 2 8 24 220 $30,929 - - - - - 5,807 - $36,736Subtotal Phase 8 0 18 6 48 68 88 300 140 80 0 0 0 0 0 0 0 0 0 0 0 10 32 24 0 0 0 0 0 0 814 $126,501 $0 $24,203 $0 $0 $0 $21,496 $0 $172,200TOTAL HOURS 77 882 308 496 968 2213 2845 1673 1058 284 100 18 44 120 72 24 36 304 160 38 168 644 212 50 10 100 164 32 56 13156Anticipated Salary Increases $30,000 $0 $4,400 $0 $4,318 $0 $0 $0 $38,718OTHER DIRECT COSTS $66,900 $0 $0 $49,938 $1,145 $0 $30,445 $0 $148,428TOTAL COST $37,705 $263,065 $81,358 $106,144 $207,152 $371,408 $403,990 $192,395 $153,410 $27,548 $6,600 $5,724 $10,648 $23,040 $9,792 $5,064 $5,652 $38,304 $52,480 $9,842 $35,448 $95,312 $24,804 $12,701 $2,762 $14,600 $23,780 $5,536 $8,288 $2,331,452 $21,902 $371,047 $222,110 $140,778 $125,000 $437,319 $34,720 $3,684,3279.0 OPTIONAL TASKS9.1Highway JPA Fee program Project12 16 40 68 $11,944 - - - - - - - $11,9449.2Lane Reduction Analysis2 4 4 32 8 50 $8,308 - - - - - 34,960 - $43,2679.3Sight Distance Improvement Recommendations2 8 16 32 8 66 $11,515 - - - - - - - $11,5159.4Water Line Relocation4 16 20 $3,878 - 44,589 - - - - - $48,467Subtotal Optional Tasks 4 28 0 0 0 52 104 16 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 204 $35,645 $0 $44,589 $0 $0 $0 $34,960 $0 $115,193TOTAL HOURS - OPTIONAL 4 28 0 0 0 52 104 16 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 204OTHER DIRECT COSTS - OPTIONAL $0 $0 $0 $0 $0 $0 $0 $0 $0TOTAL COST - OPTIONAL $1,959 $8,351 $0 $0 $0 $8,727 $14,768 $1,840 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $35,645 $0 $44,589 $0 $0 $0 $34,960 $0 $115,193By Federializing the project, the design cost increases by $144,400 (Bennett and Area West) 3/7/2024

COUNCIL COMMUNICATION
CC #:
3342
File #:
0800-04
Title:

On-Call Architectural Services - On-Call Professional Design Services Agreement Amendment
Contact:

Lori Crittenden 916-774-5707 [email protected]

Meeting Date: 6/5/2024
Item #: 6.27.

RECOMMENDATION TO COUNCIL
Staff recommends that the City Council adopt a resolution to approve the first amendment of professional design services agreement for on-call architectural services with Lionakis.

Additionally, staff requests authorization for the City Manager or his designee to execute two (2) additional one (1) year renewals without further City Council approval, provided that the applicable budget is approved by the City Council each year, or until City staff determines that continuing with the same vendor is not in the City's best interest.

BACKGROUND
The Public Works Department's Facilities Division maintains, repairs, and rehabilitates 1.35 million square feet of City facilities. A majority of the City's capital rehabilitation and capital improvement projects require design services from either licensed architects or professional engineers.

In April of 2022, a Request for Proposals (RFP) was issued soliciting proposals for On-Call Architectural Services. After a panel review, four firms including Lionakis were selected and an approval of an on-call professional design services agreement was approved by City Council in July 2022.

The intent was to utilize these professional design services agreements and their architectural design services to meet project demands. Since 2022, the citywide project demand has increased which has depleted the on-call agreement with Lionakis.

The initial term runs through
June 30, 2025 with two optional renewal years.

This amendment will allow for an increase in
project capacity which includes the future Council Chambers conference room and lobby plus the Permit Center security upgrades.

FISCAL IMPACT
The authorization amount for the initial term is not to exceed $1,250,000. The authorization for the first and second optional one-year renewals are not-to-exceed amounts of $500,000 and $500,000, respectively.

Work performed under these agreements will utilize capital rehabilitation funds and/or capital improvement project funds in the approved City budget.

ENVIRONMENTAL REVIEW
The proposed project involves the minor alteration of an existing facility. This activity is categorically exempt from CEQA as a Class 1 Exemption (State CEQA Guidelines Section 15301). The Exemption has been prepared and no further CEQA action is required.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal E - Deliver exceptional city services
Goal F - Invest in well-planned infrastructure and growth

Respectfully Submitted,
Lori Crittenden, Project Coordinator
Jason Shykowski, Public Works Director

_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Resolution 24-156
PDSA Lionakis
CEQA Exemption
RESOLUTION NO. 24-156

APPROVING A FIRST AMENDMENT TO ON-CALL PROFESSIONAL DESIGN

SERVICES AGREEMENT, BY AND BETWEEN THE CITY OF ROSEVILLE AND

LIONAKIS, AND AUTHORIZING THE CITY MANAGER TO EXECUTE IT

ON BEHALF OF THE CITY OF ROSEVILLE

WHEREAS, a first amendment to on-call professional design services agreement for on-call architectural services, by and between the City of Roseville and Lionakis, has been reviewed by the City Council; and

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Roseville that said first amendment to o n-call agreement is hereby approved and the City Manager is authorized to execute it on behalf of the City of Roseville.

BE IT FURTHER RESOLVED, that the City Manager or his or her designee is authorized to execute two (2) additional one (1) year renewals without further City Council approval, provided that the applicable budget is approved by the City Council, or until staff determines that continuing with this consultant is not in the best interest of the City.

PASSED AND ADOPTED by the Council of the City of Roseville this day of , 20 , by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:

MAYOR

ATTEST:

City Clerk
[\\Rosenet\rosenetdfs\CITY ATTORNEY\CYCOM\WPDOCS\D008\P004\00086569.DOCX:05/08/2024]

F IRST AMENDMENT TO

ON-CALL PROFESSIONAL DESIGN SERVICES AGREEMENT
On-Call Architectural Services
T

HIS FIRST AMENDMENT TO ON-CALL PROFESSIONAL DESIGN SERVICES AGREEMENT is made and entered into this ___ day of __________, 20__, by and between the City of Roseville, a municipal corporation (“CITY”), and Lionakis, a California corporation (“CONSULTANT”); and
W I T N E S S E T H:

W
HEREAS, CITY and CONSULTANT previously entered into an On-Call Professional Design Services Agreement dated July 21, 2022 (“Agreement”) regarding on-call architectural services (“Project”); and,
WHEREAS, CITY wishes to increase the total compensation for the initial term and optional renewal years of the Agreement in order to compensate CONSULTANT for additional services associated with the Project.

N
OW, THEREFORE, the parties agree as follows:

1. The first paragraph of Section 3 of the Agreement is amended to read as follows:
“For its services provided hereunder, CONSULTANT shall be compensated on a time and expense basis in accordance with the hourly rates as described in EXHIBIT “B,” [\\Rosenet\rosenetdfs\CITY ATTORNEY\CYCOM\WPDOCS\D008\P004\00086569.DOCX:05/08/2024] attached hereto and incorporated herein by this reference. Any proposed increase in the effective rates for future services must be preceded by at least a 90-day written notice to the contracting department. Total compensation shall not exceed one million two hundred fifty thousand dollars ($1,250,000) for the initial term of the Agreement. Total compensation shall not exceed five hundred thousand dollars ($500,000) for the first optional (1) one year renewal of this Agreement and total compensation shall not exceed five hundred thousand dollars ($500,000) for the second optional one (1) year renewal of this Agreement. Adjustment to the total compensation per year shall require a written amendment to this Agreement, subject to approval by the City Council."

3. The Agreement is amended by adding an additional paragraph for compliance with AB334 to read as follows:
“24 . Public Contracts: Conflicts of Interest. CONSULTANT’s duties and services under this Agreement shall not include preparing or assisting CITY with any portion of the CITY’s preparation of a request for proposals, request for qualifications, or any other solicitation regarding a subsequent or additional contract with CITY. CITY shall at all times retain responsibility for public contracting, including with respect to any subsequent phase of this project. CONSULTANT’s participation in the planning, discussions, or drawing of project plans or specifications shall be limited to conceptual, preliminary, or initial plans or specifications. CONSULTANT shall cooperate with CITY to ensure that all bidders for a subsequent contract on any subsequent phase of this project have access to the same information, including all conceptual, preliminary, or initial plans or specifications prepared by CONSULTANT pursuant to this Agreement.”

[\\Rosenet\rosenetdfs\CITY ATTORNEY\CYCOM\WPDOCS\D008\P004\00086569.DOCX:05/08/2024]

4. All other provisions of the Agreement shall remain unchanged and in full force and effect.

IN WITNESS WHEREOF, the City of Roseville, a municipal corporation, has authorized the execution of this First Amendment to Agreement in duplicate by its City Manager and attested to by its City Clerk under the authority of Resolution No. _________, adopted by the Council of the City of Roseville on the ___ day of ___________, 20__, and CONSULTANT has caused this First Amendment to Agreement to be executed.

CITY OF ROSEVILLE, a LIONAKIS, a California corporation municipal corporation

BY:_______________________________ BY: _______________________________ DOMINICK CASEY its: ________________________________ City Manager

and
ATTEST:

BY: _______________________________
its: ________________________________

BY: _______________________________

CARMEN AVALOS
City Clerk

APPROVED AS TO FORM:

BY: _______________________________

MICHELLE SHEIDENBERGER
City Attorney

(SIGNATURES CONTINUED ON NEXT PAGE)
President
Laura Knauss
Andrew Deeble
Chief Financial Officer

[\\Rosenet\rosenetdfs\CITY ATTORNEY\CYCOM\WPDOCS\D008\P004\00086569.DOCX:05/08/2024] APPROVED AS TO SUBSTANCE:

B
Y: _______________________________

JASON SHYKOWSKI
Public Works Director
for

Notice of Exemption

To: Placer County Clerk From: City of Roseville
Recorder’s Office Development Services Dept.
2954 Richardson Drive 311 Vernon Street
Auburn, CA 95603 Roseville, CA 95678

Project Title: Amendment of Professional Design Services Agreement

Project Location(s): City-owned facilities, Roseville, CA

Project Description: This project consists of the approval of an amendment to the City’s existing professional design services agreement (PDSA) with Lionakis for architecture and design services for City-owned facilities. Since 2022, the Citywide demand for these services has increased, which has depleted the on-call agreement with Lionakis. The initial term runs through June 30, 2025 with two optional renewal years. This amendment will allow for an increase in funding to continue to provide architecture and design services for future City projects on an as-needed basis, including the future Council Chambers conference room and lobby plus the Permit Center security upgrades project. Work would be limited to City-owned and operated facilities and would not be located near any environmentally sensitive resources.

Public Agency Approving Project: Roseville City Council

Agency/Individual Carrying Out Project: City of Roseville Public Works Department

Reason why this Project is Exempt: This project qualifies for a Class 1 E xemption as described in Section 15301 of the California Environmental Quality Act (CEQA) guidelines which states:

“Class 1 consists of the…minor alteration of existing public…structures, facilities, [or] mechanical equipment…involving negligible or no expansion of existing or former use…. Examples include but are not limited to: (a) Interior or exterior alterations involving such things as interior partitions, plumbing, and electrical conveyances.

The project is confined to City-owned and/or operated property and would not result in expansion of use.

No environmentally sensitive resources are located within the properties; therefore the Class 1 exemption is applicable to the proposed project.

Lead Agency Contact Person Lori Crittenden, Public Works Department – Facility Rehab Division, 2005 Hilltop Circle, Roseville, CA 95747. (916) 774-5707.

Signature: Date: 5/15/2024
Jessica Lynch, Environmental Coordinator,
City of Roseville

COUNCIL COMMUNICATION
CC #:
3347
File #:
0323
Title:

Roseville Municipal Code - Bail Schedule Update
Contact:

Gretchen Hakala 916-774-5325 [email protected]

Meeting Date: 6/5/2024
Item #: 6.28.

RECOMMENDATION TO COUNCIL
Staff recommends that the City Council adopt a resolution to approve the updated Roseville Municipal Code Bail Schedule.

BACKGROUND
On May 1, 2024, the City Council introduced for first reading an ordinance amending Section

16.16.140 of the Roseville Municipal Code regarding regulations for fireworks and adopted a resolution adopting a new administrative fine schedule to reflect those changes. The second reading of the ordinance occurred on May 15, 2024.

The bail schedule serves as a guideline to the Placer County Superior Court system for criminal violations of the Roseville Municipal Code that are adjudicated by the court. The bail schedule is often adopted in conjunction with the fine schedule, but it is being updated after the second reading of the ordinance amending Section 16.16.140 of the Roseville Municipal Code to ensure it reflects the final approved penalty amounts.

FISCAL IMPACT
There is no impact to the general fund.

ENVIRONMENTAL REVIEW
The California Environmental Quality Act (CEQA) does not apply to activities that will not result in a direct or reasonably foreseeable indirect physical change in the environment, or is otherwise not considered a project as defined by CEQA Statute §21065 and CEQA State Guidelines §15060(c)(3) and §15378. Approval of the updated bail schedule meets the above criteria and is not subject to CEQA. No additional environmental review is required.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal C - Maintain a safe and healthy community

Respectfully Submitted,
Gretchen Hakala, Paralegal
Michelle Sheidenberger, City Attorney

_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Resolution 24-159 & Bail Schedule
RESOLUTION NO. 24-159

REQUESTING THE PLACER COUNTY SUPERIOR COURT ADOPT A BAIL

SCHEDULE FOR MUNICIPAL CODE VIOLATIONS,
AND REPEALING RESOLUTION 15-421

WHEREAS, the Roseville Municipal Code provides that the violation of any of its provisions is unlawful, and

WHEREAS, an amendment to section 16.16.140 of the Roseville Municipal Code was introduced for a second reading and approved on May 15, 2024, requiring changes to the bail schedule, and

WHEREAS, the City Attorney has presented a proposed revised Roseville Municipal Code Bail Schedule, attached as “Exhibit A”,

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville that the Roseville Municipal Code Bail Schedule attached as Exhibit “A” is hereby adopted and the Presiding Judge of the Placer County Superior Court is requested to adopt and utilize said Bail Schedule, on file with the City Clerk, in place of any prior version.

PASSED AND ADOPTED by the Council of the City of Roseville this day of , 20 , by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:

MAYOR

ATTEST:

City Clerk

EXHIBIT “A”
M
I
- Misdemeanor
- Infraction
[B:\City Attorney\RMC Changes\Bail Schedule (redline) 051424.docxB:\City Attorney\RMC Changes\Bail Schedule (redline) 050124.docx: 05/14/2024]

ROSEVILLE MUNICIPAL CODE BAIL SCHEDULE
Revised 8/25/156/5/2024

(The State of California may impose additional fees that are required to be paid to the City of Roseville. Bail amounts marked with an asterisk (*) are subject to such additional fees as of December 7, 2010)

Code Description of Code Type Bail
Section

2.40.010 CATV Without Franchise I 100.00

2.40.200 CATV Violations I 100.00

2.60.065 Campaign Contribution in Excess of Limit M 500.00

2.60.070 Campaign Contribution Disclosure M 500.00

2.60.090 Campaign Contribution Disclosure M 500.00

2.80.090 Campaign Ballot Contribution Disclosure M 500.00

4.24.140 Transient Occupancy Tax Violations M 500.00

4.28.120 Misrepresentation relating to Real property transfer tax M 500.00

6.04.040 No Business License I 100.00

6.04.160 Disclosure of Confidential Information I 100.00

6.04.220A Posted License at Business I 100.00

6.04.220B License with Person I 100.00

6.08.030 Filming on Public Property Without Permit I 100.00

7.08.030 Interference with Animal Control Officer I 100.00

7.12.010 Animal at Large - Leash Law I 50.00

7.12.030 Property Damage by Animal I 50.00

7.12.040 Bitches in Season I 50.00

7.14.010 Removal of Dog Defecation I 50.00

7.16.010 Failure to License dog I 50.00

7.16.040 License Affixed to Collar I 50.00

7.20.010 Kennels - License Required I 100.00

7.25.010 Animal Noise I 100.00

7.28.010 Hogs Prohibited I 50.00

7.28.020 Non-registration of 5 or fewer animals I 50.00

7.28.030 Non-registration of more than five animals I 100.00

7.28.040 Keeping Livestock I 50.00

7.28.050 Horses, Mules or Goats Regulations I 50.00

7.32.010 Wild Animal I 50.00

7.36.010 Domestic Fowl - Restrictions I 50.00

7.36.020 Domestic Fowl - Enclosure I 50.00

7.36.030 Rabbits - Restriction I 50.00

7.36.040 Rabbits - Enclosure I 50.00

7.36.070 Bee Hives I 50.00

7.36.080 Bee Hives - Distance from Building I 50.00

7.44.010 Failure to Report Bite I 100.00

7.44.020 Violation of Quarantine I 100.00
M
I
- Misdemeanor
- Infraction 2
[B:\City Attorney\RMC Changes\Bail Schedule (redline) 051424.docxB:\City Attorney\RMC Changes\Bail Schedule (redline) 050124.docx: 05/14/2024]

7.48.060 Harboring Vicious Animal I 100.00

7.60.020 Dead Animal Carcass I 100.00

8.02.200 Park Use Regulations I 100.00

8.02.220A Driving in Parks I 100.00

8.02.220B Speeding in Parks I 100.00

8.02.230 Damaging or Defacing Park Property M 250.00
Damaging or Defacing Park Property I 100.00

8.02.240 Animal in City Park I 50.00

8.02.250A Park Curfew I 50.00

8.02.260A Diamond Oaks - Curfew I 50.00

8.02.260B Diamond Oaks - Admission Fee I 50.00

8.02.260C Non-Golfing Use of Diamond Oaks Municipal Golf Course
I 50.00

8.02.261A Woodcreek Golf Club – Curfew I 50.00

8.02.261B Woodcreek Golf Club – Admission Fee I 50.00

8.02.261C Non-Golfing Use of Woodcreek Golf Club I 50.00

8.02.270 Golf in Parks I 50.00

8.02.280 Alcohol in Park I 50.00

8.02.281 Sale of Alcoholic Beverage I 100.00

8.02.290 No Glass Containers I 25.00

8.02.310 Animal Life Protected I 100.00
Animal Life Protected M 100.00

8.02.315 Ejection from Parks M 250.00
Ejection from Parks I 100.00

8.02.320 Tennis Courts - Prohibited Activities I 25.00

8.02.325 Safety Gear at Skateboard Track I 25.00

8.02.330 Interference with Park Ranger M 500.00
Interference with Park Ranger I 100.00

8.02.340 Mining I 100.00

8.04.050 Tree Care - Without Permit I 100.00

8.04.060 Mutilation/Abuse of trees I 100.00

8.04.140. Interference With City Representative I 100.00

9.10.030 No Massage/Masseuse Permit M 500.00

9.10.040 Out-call Massage Services without CAMTC
Certification
M 500.00

9.10.050 Unlawful Advertising for Massage Services M 500.00

9.10.190 Employment of Minor as Masseur M 500.00

9.10.210 Operating Requirements for Massage Businesses – General Conditions
M 500.00

9.10.220 Operating Requirements for Massage Businesses – Facilities
M 500.00

9.10.230 Operating Requirements for Massage Businesses – Operations
M 500.00

9.10.240 Operating Requirements for Out-call Massage Services M 500.00

9.10.250 Display of Massage Business Permit M 250.00

9.10.240 Presence of Licensed Massage Establishment Operator M 500.00 M
I
- Misdemeanor
- Infraction 3
[B:\City Attorney\RMC Changes\Bail Schedule (redline) 051424.docxB:\City Attorney\RMC Changes\Bail Schedule (redline) 050124.docx: 05/14/2024]

9.10.260 Operating a Massage Establishment M 500.00

9.11.030 Adult Oriented Business Permit Required M 100.00

9.11.150 Adult Oriented Business – Display of Permit M 100.00

9.11.160A No Hiring or Providing Adult Oriented Business Service to Minors
M 100.00

9.11.160B No Allowing Minors within Adult Oriented Business M 100.00

9.12.020 Gathering Garbage Without Franchise I 100.00

9.12.050 Placing Garbage in Receptacles I 25.00

9.12.140 Unlawful Accumulation of Garbage I 100.00

9.12.180 Disposal of Prohibited substances I 100.00

9.12.190A Exclusive Use of Receptacles I 100.00

9.12.190B Entering/Sleeping in Receptacles I 100.00

9.17.040 Refuse Hauler without Permit M 250.00
Refuse Hauler Without Permit I 100.00

9.17.060 Refuse reports Required M 250.00
Refuse Reports Required I 100.00

9.17.100 Periodic Refuse Collection M 500.00
Periodic Refuse Collection I 100.00

9.20.070 Burning Weeds Without Fire Chief Consent I 50.00

9.24.030G Construction Noise I 100.00

9.24.050 Failure to Cooperate in Determining Noise Level I 100.00

9.24.100 Violating Sound Limits for Sensitive Receptors I 100.00

9.24.110 Violating Amplified Sound Limits for Sensitive Receptors
I 100.00

9.24.120 Violating Sound Limits for Industrial Properties I 100.00

9.24.130 Violating Sound Limits for Events on Public Property I 100.00

9.24.150 Noise Disturbances I 100.00

9.24.190 Noise Limits - Train I 100.00

9.24.200 General Noise Limit I 100.00

9.28.100 Violation of Emergency Services Regulation M 500.00

9.32.050 Railroad Transportation of Explosives M 500.00

9.35.030 Certified Farmers’ Market Permit Required I 100.00

9.36.030 License Required for Outdoor Festival M 500.00

9.36.340 Operation of Festival Not on Approved Dates M 500.00

9.36.350 Permitting Non-Ticketed Person to Enter Festival M 100.00

9.36.360 Advertising Prior to Approval of Festival I 100.00

9.36.370 Permitting Persons Under Influence to Enter or Remain in Festival
M 250.00

9.37.030 Parade Without Permit I 100.00

9.37.040 No Parade Vendor Permit I 100.00

9.37.140 Interference with Parade I 100.00

9.37.150 Exceeding Scope of Permit I 100.00

9.40.020 Public Dance Permit Required M 500.00
Public Dance Permit Required I 250.00

9.40.092 Disturbing the Peace M 500.00
Disturbing the Peace I 250.00
M
I
- Misdemeanor
- Infraction 4
[B:\City Attorney\RMC Changes\Bail Schedule (redline) 051424.docxB:\City Attorney\RMC Changes\Bail Schedule (redline) 050124.docx: 05/14/2024]

9.40.094 Intoxicated Patrons M 500.00
Intoxicated Patrons I 250.00

9.40.096 Disorderly Conduct within 50’ M 500.00
Disorderly Conduct within 50’ I 250.00

9.40.098 Orderly Dispersal Required M 500.00
Orderly Dispersal Required I 250.00

9.40.170 Display of Dance Permit M 250.00
Display of Dance Permit I 100.00

9.45.030 Entertainment Permit Required M 500.00
Entertainment Permit Required I 250.00

9.45.060 Hours of Operation M 500.00
Hours of Operation I 250.00

9.45.070 Disturbing the Peace M 500.00
Disturbing the Peace I 250.00

9.45.080 Intoxicated Customers M 500.00
Intoxicated Customers I 250.00

9.45.110 Disorderly Conduct within 20’ M 500.00
Disorderly Conduct within 20’ I 250.00

9.45.120 Orderly Dispersal Required M 500.00
Orderly Dispersal Required I 250.00

9.45.130 Alcoholic Beverages on Premises M 500.00
Alcoholic Beverages on Premises I 250.00

9.45.200 Display of Permit M 500.00
Display of Permit I 250.00

9.60.050 Failure to File Hazardous Material Disclosure I 100.00

9.80.070 Flood Damage Prevention M 250.00
Flood Damage Prevention I 100.00

9.80.120 Development Permit Required M 250.00
Development Permit Required I 100.00

9.90.050 Smoking in Public Place - 1st Violation I 50.00 Smoking in Public Place - 2nd Violation in year I 75.00 Smoking in Public Place - 3rd violation in year I 100.00

9.90.060 Non-Smoking Hotel/Motel Rooms I 100.00

9.90.070 Smoke-Free Workplace I 100.00

9.90.090 “No Smoking” Posting Required I 100.00

9.90.100 Retaliation Prohibited I 100.00

9.95.030 Medical Marijuana Dispensaries Prohibited M 500.00

10.02.010 Destroying Public Signs M 250.00
Destroying Public Signs I 100.00

10.20.010 Electric Wire or Fence I 100.00

10.30.010 Drinking in Streets M 250.00
Drinking in Streets I 100.00

10.30.020B Possession Open Alcohol at Off Sale Premises I 100.00

10.32.030 Drug Paraphernalia I 100.00

10.32.040 Distribution of Drug Paraphernalia I 100.00

10.34.020 Loitering Prohibited - 1st Offense I 100.00
M
I
- Misdemeanor
- Infraction 5
[B:\City Attorney\RMC Changes\Bail Schedule (redline) 051424.docxB:\City Attorney\RMC Changes\Bail Schedule (redline) 050124.docx: 05/14/2024]

10.34.020 Loitering Prohibited - Subsequent Offense M 250.00

10.36.010 Registration Required for Soliciting I 100.00

10.36.020 Failure to Carry Registration I 100.00

10.36.030 Violation of No Peddling or No Soliciting Sign I 100.00

10.38.010 Urinate or Defecate in Public M 100.00
Urinate or Defecate in Public I 50.00

10.42.010 Motorcycle Racing I 100.00

10.44.020 Ultralight Vehicle Launch/Landing I 50.00

10.50.010 Littering I 100.00

10.50.020 Distribution of Advertising Literature Without Permission
I 100.00

10.52.010 Removal of Lawfully Placed Signs I 100.00

10.53.030 Graffiti Prohibited M 250.00
Graffiti Prohibited I 100.00

10.53.040 Possession of Aerosol Spray Paint Can By Minors M 250.00 Possession of Aerosol Spray Paint Can By Minors I 100.00

10.53.050 Sale of Aerosol Spray Paint Cans to Minors M 250.00 Sale of Aerosol Spray Paint Cans to Minors I 100.00

10.54.020 Nuisances I 100.00

10.56.010 Camping on Public Property I 100.00

10.56.020 Camping on Private Property I 100.00

10.56.030 Open Campfires I 100.00

10.61.020 Carnival Game Fraud M 500.00
Carnival Game Fraud I 100.00

10.61.030 Violation of Carnival Game Regulations I 100.00

10.61.040 Carnival Preoperation Requirements I 100.00

10.62.010 Bingo License required M 250.00

10.62.020B Violation of Bingo Regulations M 250.00

10.62.030 Violation of Pull-Tab Bingo Regulations M 250.00

10.62.040 Violation of Special Bingo Regulations M 250.00

10.63.030 Private Patrol Service - Uniform Approval I 100.00

10.64.050A Sirens Prohibited I 100.00

10.64.050B Automatic Shutoff Required For Alarms I 100.00

10.64.060 Alarm Permit Required I 100.00

10.64.070 Display of Alarm Permit Required I 100.00

10.64.120 Operation or Maintenance of Direct Dial Alarm I 100.00

10.64.180 Use of Alarm After Denial, Suspension or Revocation I 100.00

10.65.020 Ice Cream Vendor Permit Required I 100.00

10.65.050 Ice Cream Vendor - Misrepresentation M 500.00

10.65.070 Display of Ice Cream Permit I 100.00

10.65.100 Vendor’s Name Marked on Vehicle I 100.00

10.66.020 No Taxi Driver’s License I 100.00

10.66.050 Taxi Driver Misrepresentation M 500.00

10.66.070 Display of Taxi Driver Permit I 100.00

10.66.100 Taxi Driver Name on Vehicle I 100.00

10.66.110 Pickup of Additional Passengers I 100.00
M
I
- Misdemeanor
- Infraction 6
[B:\City Attorney\RMC Changes\Bail Schedule (redline) 051424.docxB:\City Attorney\RMC Changes\Bail Schedule (redline) 050124.docx: 05/14/2024]

10.66.120 Driving Without Liability Insurance I 100.00

10.66.130 Parking at Taxi Stand I 50.00

10.67.020 Daily Reports to Police Chief M 250.00

10.67.020 Daily Reports to Police Chief I 100.00

10.67.030 Daily Reports Kept on Premises M 250.00

10.67.030 Daily Reports Kept on Premises I 100.00

10.67.040 Pawnbroker/Secondhand Dealer Reports M 250.00

10.67.040 Pawnbroker/Secondhand Dealer Reports I 100.00

10.67.060 Pawnbrokers/Secondhand Dealers - Permit Required M 500.00

10.67.060 Pawnbrokers/Secondhand Dealers - Permit Required I 250.00

10.67.130 Pawnbrokers/Secondhand Dealers - Hours of Operation M 250.00

10.67.130 Pawnbrokers/Secondhand Dealers - Hours of Operation I 100.00

10.67.140 Display of Pawnbroker/Secondhand Dealer Permit M 250.00

10.67.140 Display of Pawnbroker/Secondhand Dealer Permit I 100.00

10.68.020 Unlawful to Conduct Cardroom I 100.00

10.70.030 Curfew for Minors I 25.00

10.71.030

10.80.010
Social Host Accountability
Social Host Accountability
Discharge Firearm in City
I
M
M
500.00
1,000.00
250.00
Discharge Firearm in City I 100.00

10.82.010 Possession/Use of Slingshots I 25.00

11.04.030 Directing Traffic I 25.00

11.04.040 Reports of Damage to Utilities I 50.00

11.06.030 Obedience to Traffic Control Devices I 50.00

11.08.030 Obedience to ”No-turn” Signs I 50.00

11.08.040 Turn Against Traffic Stop Signal I 50.00

11.10.020 Wrong Way Driving/Stopping in Alley I 50.00

11.12.010 Obedience to Stop Signs I 50.00

11.14.020 Bicycle Riding on Particular Sidewalks I 25.00

11.14.030 Bicycle Riding in Washington Underpass I 25.00

11.14.040 Parent Responsibility - Bicycle Violations I 50.00

11.15.130 Violation of Golf Cart Regulations I 50.00

11.16.010 Clinging to Motor Vehicles Prohibited I 100.00

11.16.020 Driving on Sidewalk I 100.00

11.16.040 Riding, Driving on New Pavement or Paint I 100.00

11.16.050 Driving over Fire Hose I 100.00

11.16.060 Driving Through Railroad Gates I 100.00

11.16.070 Speeding Train Through Crossing I 100.00

11.16.080 Removal or Obstructing Chalkmarks I 75.00

11.16.090 Obstructing Intersections and Crosswalks I 50.00

11.16.100 Blocking Roadway Prohibited I 50.00

11.16.110 Leaving Vehicle Unattended I 50.00

11.16.130 Driving on Private Property I 50.00

11.18.020 Jaywalking I 25.00

11.18.030 Crossing at Right Angles I 25.00
M
I
- Misdemeanor
- Infraction 7
[B:\City Attorney\RMC Changes\Bail Schedule (redline) 051424.docxB:\City Attorney\RMC Changes\Bail Schedule (redline) 050124.docx: 05/14/2024]

11.18.040A Skateboard/Roller Skate Interference with Pedestrians or Vehicular Traffic
I 50.00

11.18.040B Skateboarding/Roller Skating on Private Property I 50.00

11.18.040D Skateboarding/Roller Skate on Posted Public Property I 50.00

11.20.020 Parking More than 72 Hours I 100.00*

11.20.030 Parking for Wash/Repair/Grease Vehicle in Road I 50.00*

11.20.040 Parking in Alley I 50.00*

11.20.050 Parking on Wrong Side of Street, Angle Parking I 50.00*

11.20.060 Parking Commercial Vehicle in Residential
Neighborhood
I 100.00*

11.20.070 No Parking Sign I 50.00*

11.20.080 Parking in Violation of Emergency Sign I 100.00*

11.20.090 Parking on Traffic Counters I 50.00*

11.20.100 Parking on Parks/Playgrounds/Sidewalk I 50.00*

11.20.110 Parking on Private Property I 50.00*

11.20.170 Parking in Fire Lane I 100.00*

11.20.180 Failure to Display Current Registration Tabs I 50.00

11.20.190 Unregistered Vehicles Parked on Highway I 100.00*

11.20.210 Handicapped Parking - On Street I 380.00*

11.20.220 Handicapped Parking - Off Street I 380.00*

11.20.320 Abandoned Vehicles I 100.00

11.20.394 Reconstruction of Abandoned Vehicles I 100.00

11.20.450 Selling Parking Permit I 100.00*

11.20.460 Parking in Residential Permit Zone Without Permit I 50.00*

11.20.540 Parking in Commercial Permit Zone without Permit I 50.00*

11.22.010 Parking in Violation of Curb Markings I 50.00*

11.22.020 Unauthorized Painting of Curbs I 100.00

11.22.040 Loading Zone Parking I 50.00*

11.22.050 Parking So As to Obstruct Traffic I 75.00*

11.23.010 Vending Within 150 Feet of any School I 50.00

11.24.020 Overtime Parking I 35.00*

11.24.030 Parking More than One Space I 25.00*

11.24.050 Unauthorized Placing of Parking Signs I 100.00*

11.26.010 Truck Route I 100.00

11.30.050 Parking Meter Overtime I 25.00*

11.30.070 Parking Meter/Not Depositing Coins I 25.00*

11.30.080 Parking Meter - Using Substitute Coins I 100.00*

11.30.090 Parking Meter - Tampering With I 100.00*

11.32.040 Obedience to Parking Facility Signs I 25.00*

11.32.060 Parking in Reserved Space I 50.00*

11.32.070 Failure to Park in Marked Space I 25.00*

11.33.150 Violation of Transportation Systems Management Plan I 100.00

13.12.010 Use of Sidewalk for Business I 100.00

13.12.020 Interfering with Free Passage I 100.00

13.16.010 Burning Leaves I 100.00

13.20.010 No Building Moving Permit I 100.00
M
I
- Misdemeanor
- Infraction 8
[B:\City Attorney\RMC Changes\Bail Schedule (redline) 051424.docxB:\City Attorney\RMC Changes\Bail Schedule (redline) 050124.docx: 05/14/2024]

13.21.010 No oversize Vehicle Permits I 100.00

13.28.010 No Encroachment Permit I 100.00

14.04.070 Unauthorized Utility Connections I 100.00

14.08.060 Tampering With City Property I 100.00

14.08.210 Tapping Distribution System I 100.00

14.08.080 Turning Water On Without Permit I 100.00

14.08.130 Use of Water For Construction Without Permit I 100.00

14.08.190 Use of Siphon I 100.00

14.08.200 Use of Nonrecirculating HVAC System I 100.00

14.08.210 Resale of Water I 100.00

14.09.160 Water Waste - 1st Violation M 100.00
Water Waste - 1st Violation I 50.00
Water Waste - 2nd Violation M 200.00
Water Waste - 2nd Violation I 100.00
Water Waste - 3rd Violation M 500.00
Water Waste - 3rd Violation I 250.00

14.10.110 Failure to Maintain Backflow Prevention Assembly I 100.00

14.11.030 Permit Required to Dig Well M 250.00
Permit Required to Dig Well I 100.00

14.12.020 Violation of Sanitary Sewer Regulations M 250.00 Violation of Sanitary Sewer Regulations I 100.00

14.12.025 Violation of Storm Drain Regulations I 100.00

14.12.040 Permit required to connect with sewer M 500.00 Permit required to connect with sewer I 100.00

14.12.050A Discharge of Storm Water to Sewer M 250.00
Discharge of Storm Water to Sewer I 100.00

14.12.050C Discharge of Prohibited Substances to Sewer - 1st Violation
M 250.00
Discharge of Prohibited Substances to Sewer - 1st
Violation
I 100.00

14.12.050C Discharge of Prohibited Substance to Sewer - 2nd Violation
M 500.00
Discharge of Prohibited Substance to Sewer - 2nd
Violation
I 200.00

14.17.110 Recycled Water Connection without approval I 100.00

14.17.120 Resale of Recycled Water I 100.00

14.24.220 Violation of Electric Regulations I 100.00

14.24.240 Resale of Electricity M 500.00

14.24.250 Sale/Delivery/Transmission of Electricity without Franchise
I 100.00

14.24.260 Use of Energy Supplied without Franchise I 100.00

14.26.110 Contributing Prohibited Substances to POTW M 500.00 Contributing Prohibited Substance to POTW I 100.00

14.26.140 Violation of Pollutant Limitations M 500.00
Violation of Pollution Limitations I 100.00

14.26.170 Excessive Discharge M 500.00
M
I
- Misdemeanor
- Infraction 9
[B:\City Attorney\RMC Changes\Bail Schedule (redline) 051424.docxB:\City Attorney\RMC Changes\Bail Schedule (redline) 050124.docx: 05/14/2024]

Excessive Discharge I 100.00

14.26.180B Failure to Notify of Accidental Discharge M 500.00 Failure to Notify of Accidental Discharge I 100.00

14.26.310 Discharge Without Permit M 300.00
Discharge Without Permit I 100.00

14.26.370 Transfer of Permit M 300.00
Transfer of Permit I 100.00

14.26.380 Failure to Report Pollutants M 300.00
Failure to Report Pollutants I 100.00

14.26.390 Failure to Submit Compliance Reports M 300.00 Failure to Submit Compliance Reports I 100.00

14.26.390.3 Failure to Pretreat M 500.00
Failure to Pretreat I 100.00

14.26.440 Falsifying Information M 500.00

16.04.100 Building Code Regulations M 500.00
Building Code Regulations I 250.00

16.07.020 Rental of Drug House I 100.00

16.16.020 Uniform Fire Code Regulations M 500.00
Uniform Fire Code Regulations I 250.00

16.16.080 Permit for Class IIIB Liquids I 100.00

16.16.140 Open Burning Prohibited I 100.00

16.16.1460 Fireworks Regulations MI 100.1,000.00

16.16.140F7
0A
Sale of Fireworks to Minors I 100.00

16.16.1470
GB
Permit Required to Sellale Fireworks I 100.00

16.16.180 Permit to Store Liquiefied Petroleum Gas I 100.00

16.18.020 Energy Audit Required I 100.00

16.20.040 Grading Without Approval I 100.00

16.24.450 Failure to Comply with Site Review I 100.00

16.35.060 Substandard Building Violation I 100.00

16.35.460 Failure to Comply With Order of Appeals Board M 500.00

16.35.500 Interference with Repair or Demolition I 100.00

17.06.230 Wall Signs I 100.00

17.08.010 Freestanding Sign Regulations I 100.00

17.08.020 Freestanding Sign Size/Height I 100.00

17.08.110 Sign Permit Required I 100.00

17.08.200 Wall Sign Regulations I 100.00

17.08.210 Wall Sign Location I 100.00

17.08.220 Wall Sign Size/Height I 100.00

17.08.610 Violation of Sign Regulations I 100.00

17.10.020 Off-Site Subdivision Sign Design I 100.00

17.10.030 Off-Site Sign Design I 100.00

17.10.050 Flags I 100.00

17.10.210 Promotional Banners I 100.00

17.12.010 Certain Signs Prohibited I 100.00
M
I
- Misdemeanor
- Infraction 10
[B:\City Attorney\RMC Changes\Bail Schedule (redline) 051424.docxB:\City Attorney\RMC Changes\Bail Schedule (redline) 050124.docx: 05/14/2024]

17.12.020 Sign Design Prohibitions I 100.00

17.40.020 Failure to Remove Abandoned Sign I 100.00

17.14.020 Failure to Maintain Sign I 100.00

17.16.010 Failure to Abate Nonconforming Sign I 100.00

17.16.010D Altering/Enlarging Nonconforming Sign I 100.00

19.22.030 Accessory Structures I 100.00

19.42.040 Home Occupation Permit Required I 100.00

19.42.050 Home Occupation Performance Standards I 100.00

19.90.030 Violation of Zoning Ordinance I 100.00
Any Unlisted Section I 100.00

COUNCIL COMMUNICATION
CC #:
3356
File #:
0503-02
Title:

City of Roseville Tickets and/or Passes Distribution Policy Update Contact:

Carmen Avalos 916-774-5269 [email protected]

Meeting Date: 6/5/2024
Item #: 6.29.

RECOMMENDATION TO COUNCIL
Staff requests that the City Council adopt a resolution to approve the City of Roseville Tickets and/or Passes Distribution Policy to be compliant with Fair Political Practices Commissions' standards.

BACKGROUND
In 1974, Proposition 9 was passed by California voters creating the Fair Political Practices Commission (FPPC) whose intent is to provide the public with transparency via compliance of reporting on monetary matters of interest to the public for all public officials participating in government decisions. In February 2009, Regulation 18944.1 became effective and set the framework for ticket distribution for public officials by a public agency. The regulation requires the agency adopt a written policy that identifies the public purpose served in distributing the tickets.

Agencies are required to post this ticket policy on the agency website and provide FPPC the website link. The City of Roseville’s current policy for ticket distribution was last updated in 2012.

There have been amendments made by the Fair Political Practices Commission since that time.

Adoption of the requested resolution would address these updates and bring the City into compliance with Regulation 18944.1 and provide greater transparency to the public.

FISCAL IMPACT
There is no fiscal impact associated with this request.

ENVIRONMENTAL REVIEW
The California Environmental Quality Act (CEQA) does not apply to activities that will not result in a direct or reasonably foreseeable indirect physical change in the environment, or is otherwise not considered a project as defined by CEQA Statute §21065 and CEQA State Guidelines §15060(c)(3) and §15378. Adoption of the City of Roseville Tickets and/or Passes Distribution Policy meets the above criteria and is not subject to CEQA. No additional environmental review is required.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal A - Remain fiscally responsible in a changing world

Respectfully Submitted,
Joe Speaker, Assistant City Attorney
Carmen Avalos, City Clerk

_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Resolution 24-163
Tickets and/or Passes Distribution Policy
RESOLUTION NO. 24-163

ADOPTING THE CITY OF ROSEVILLE TICKETS

AND/OR PASSES DISTRIBUTON POLICY

WHEREAS, from time to time the City of Roseville receives, tickets and/or passes from third party sources, both public and private, and under Title 2 of the California Code of Regulations, Section 18944.1, these tickets and/or passes are defined as an admission to a facility, event, show, or performance for an entertainment, recreational, or similar purpose; and

WHEREAS, the Fair Political Practices Commission Section 18944.1 establishes rules by which tickets and/or passes distributed by local government agencies to government/ public officials will not constitute reportable gifts under the state Political Reform Act on Form 700; and

WHEREAS, Section 18944.1 requires that local government agencies adopt a written policy governing the distribution of ticket and/or passes to local government public officials in order that receipt of those tickets and/or passes will not necessarily be treated as reportable gifts; and

WHEREAS, according to Section 18944.1, these tickets and/or passes are not gifts to public officials if the City disseminates these tickets and/or passes in accordance with a duly adopted written policy when distribution is made under Section 18944.1, subdivision (b) and disclosed on Form 802; and

WHEREAS, the City of Roseville finds that the receipt of all such tickets and/or passes are public resources; and

WHEREAS, the City of Roseville desires to distribute these public resources in a manner that furthers the City’s public purpose; and

WHEREAS, the City Manager or his designee, shall be the ticket administrator in accordance with the policy; and

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Roseville, hereby adopts the City of Roseville Tickets and/or Passes Distribution Policy.

BE IT FURTHER RESOLVED that the City Council hereby authorizes the City of Roseville Tickets and/or Passes Distribution Policy to be effective immediately.

PASSED AND ADOPTED by the City Council of the City of Roseville, Placer County, California this day of , 2024, by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSTAIN COUNCILMEMBERS:

MAYOR
ATTEST:

City Clerk

CITY OF ROSEVILLE TICKETS AND/OR PASSES DISTRIBUTION POLICY

A. Purpose

This policy is to establish a City-wide procedure for the distribution, use and reporting of tickets or passes to a facility, event, show or performance, for an entertainment, amusement, recreational, charitable, or similar purposes (defined as an "Event" below) in compliance with section 18944.1 of the Fair Political Practices Commission Regulation (hereinafter "FPPC Regulation"'). FPPC Regulation 18944.1 sets out the circumstances under which a public agency's distribution of tickets or passes, for which no consideration of equal or greater value is provided by the City official (defined below), does not result in a gift to the City official. Tickets or passes to an Event distributed and accounted for in compliance with this policy and FPPC Regulation 18944.1 will not be considered as gifts to the City official who make use of such tickets and passes.

The City finds the public and governmental purpose in distributing tickets and passes to Events is 1) to enable City officials to promote City businesses, resources, programs and facilities, 2) to monitor and evaluate City venues and City-sponsored events, 3) to promote cultural, recreational and educational facilities, services and programs available to the public within the City of Roseville, 4) to support diversity and inclusiveness, and 5) to enhance employee morale. For purposes of “employee morale” as used in this section, a ticket or pass distributed to a City official for the official's personal use, other than a member of the City Council, the City Manager, political appointee, or a department head, to support general employee morale, retention, or to reward public service is deemed to serve a public purpose.

This policy is subject to all applicable FPPC Regulations and the Political Reform Act. Nothing in this policy is intended to alter, amend, or otherwise affect the obligations of City officials under the Political Reform Act and implementing regulations, or under Roseville Municipal Code § 3.15.030 and City’s Administrative Regulation 2.14, as may be amended from time to time.

B. Policy

1. Definitions.

a. “City” means the City of Roseville.
b. "City Manager" means the Roseville City Manager or his/her designee.

c. "City official" means every member, officer, employee or consultant of the City of Roseville, as defined in Government Code Section 82048, as may be amended from time to time, and FPPC Regulation 18940.1, as may be amended from time to time. Such term shall include, without limitation, any City board or commission member or other appointed official or employee required to file an annual Statement of Economic Interests FPPC Form 700.

d. “Disproportionate” means too frequent in comparison to all City officials, taking into consideration all reasonable circumstances.

e. “Event” means a facility, event, show, or performance, for an entertainment, amusement, recreational, charitable, or similar purpose, and has the meaning provided in FPPC Regulation 18944.1, as amended from time to time.

f. "Immediate Family" means spouse, registered domestic partner, and/or dependent children.

g. "Ticket" or “pass" means admission to an Event.

2. Applicability. This policy applies to tickets and passes that are: (i) gratuitously provided to the City by an outside source; or (ii) acquired by the City by purchase; or (iii) received by the City as consideration pursuant to the terms of a contract; or (iv) because the City owns or controls the facility or venue at which the Event occurs; or (v) the City sponsors the Event.

3. Public Purpose. Any distribution of tickets or passes in accordance with this policy to a City official, or to an individual or organization outside the City at the request of a City official, must be in furtherance of a governmental and/or public purpose as stated in section A, and be reported as provided in this policy.

C. Exemptions to Policy

1. Ceremonial Role or Function. Tickets or passes provided, by a third party, to a City official to carry out his or her job duties or where the City official will perform a ceremonial role or function on behalf of the City at the Event are exempt from this policy. Such tickets or passes may be subject to other FPPC reporting requirements, including the filing of a FPPC Form 802, or such other form(s) as the FPPC may designate.

2. Income. The City official treats the tickets or passes as income consistent with federal and state income tax laws and the City reports distribution of the tickets or passes as income to the City official on the FPPC Form 802, or such other form(s) as the FPPC may designate.

3. Reimbursement. The City official returns, purchases, or reimburses the City for the face value of the tickets or passes.

D. Procedure for Distribution and Reporting

1. Distribution. The City has sole discretion to determine who shall receive the tickets or passes received or acquired by the City.

a. Tickets or passes that are donated or provided by an outside source and are earmarked for use by a specific City official are considered gifts to the City official and are subject to the disclosure and reporting requirements applicable to gifts, unless one of the exemptions listed above apply.

b. Tickets or passes received by the City from an outside source without designation as to the specific City official who may use the tickets or passes shall be forwarded to the City Manager. The City Manager shall determine the face value of the tickets or passes, the City official who may use them, and will cause the City Clerk to report their distribution as provided in section D(2) below.

c. Any City Official receiving tickets or passes pursuant to this policy must cooperate with the City Clerk and provide the information required in Parts 3 and 4 of FPPC Form 802, or such other form(s) as the FPPC may designate.

d. If the tickets or passes do not have a face value stated or state something to the effect of "complimentary" or "promotional," the City Manager will determine the value of the tickets or passes based on the reasonable cost for attendance at such an Event.

e. The City Manager may establish an y reasonable procedure for distribution of tickets or passes in accordance with this policy.

f. Any tickets or passes not distributed pursuant to this policy may be sold or donated by the City to the public.

g. Disproportionate use of tickets or passes by members of the City Council, the City Manager, an appointed committee, board, or commission member, or a department head or assistant department head shall be prohibited.

2. Reporting Requirement. Tickets or passes distributed by the City to a City official, or to an individual or organization outside the City at the behest of a City official, pursuant to this policy shall be documented in a completed FPPC Form 802, or such other form(s) as the FPPC may designate. The completed Form 802 shall be completed by the City Clerk, provided to the FPPC, and posted on the City's website in a prominent fashion within 45 days after distribution of the tickets or passes.

3. Transfer Prohibition. A City official who receives tickets or passes distributed by the City according to this policy is prohibited from transferring or giving the tickets or passes to any other person except to members of the official's immediate family for their personal use. No person receiving a ticket or pass pursuant to this policy shall sell or receive reimbursement for the value of the ticket or pass.

4. Policy Limited to Just Tickets or Passes. If other benefits, such as food, beverages or other items, are provided to the City official at the Event and they are not included as part of the admission to the Event, those benefits will need to be accounted for as gifts to the City official.

E. Effective Date

This policy shall be effective upon City Council approval and shall be posted on the City website in a prominent fashion.

F. Public Record

This policy shall be posted prominently on the City’s website within 30 days of adoption or amendment and sent to the FPPC by emailing the City’s website link that displays the policy, so that the FPPC may post the link, in accordance with the FPPC Regulation 18944.1(c), as may be amended from time to time.

COUNCIL COMMUNICATION
CC #:
3373
File #:
0215
Title:

Roseville Municipal Code Amendment - Development Impact Fee Deferral Program Contact:

Wayne Wiley 916-774-5283 [email protected]

Meeting Date: 6/5/2024
Item #: 6.30.

RECOMMENDATION TO COUNCIL
Staff recommends that the City Council introduce for first reading an ordinance amending Section

4.04.040 of Chapter 4.04 of Title 4 of the Roseville Municipal Code regarding nonresidential development impact fee deferrals.

BACKGROUND
The City of Roseville’s Economic Development Department oversees the fee deferral programs as an incentive to encourage residential and nonresidential development. The nonresidential and residential fee deferral programs were established in 1996 and 2008, respectively, to assist the development community by deferring payment of City-controlled development impact fees until the end of the construction process. As such, upon approval, deferred impact fees are paid at the time of issuance of an Occupancy Permit, or final approval of a building permit, if no certificate of occupancy is required.

Since the inception of the fee deferral programs, the City has processed dozens of requests that have helped facilitate development and stimulated economic growth. However, due to the City’s ongoing pressures of meeting the state mandated Regional Housing Needs Allocation (RHNA) requirements and the increasing challenges developers face in securing funding for affordable housing projects, staff proposes amending the Municipal Code to allow an extended deferral of City-controlled development impact fees for affordable housing projects, for a maximum of one year past issuance of a certificate of occupancy or three years past issuance of the first building permit, whichever is earlier.

DISCUSSION

The proposed nonresidential fee deferral amendment is intended to incentivize affordable housing development by postponing the payment of impact fees for an extended period, allowing developers the ability to reallocate funding to better address immediate project needs and construction costs. To ensure that the program assists with the type of targeted development projects (i.e., housing projects consisting of three or more affordable housing units) and that the City is appropriately insulated from risk, qualifying projects must meet the following requirements:

1. Projects shall consist of 100 percent affordable units;

2. Projects shall comply with the City’s Objective Design Standards;

3. Property owners shall agree to enter into an Affordable Housing Agreement;

4. Property owners shall agree to enter into a promissory note for the deferred fee amount that is secured by a deed of trust and/or other acceptable security interest; and

5. Applicants shall follow all other requirements of Section 4.04.040, including paying a fee and interest.

No additional changes to the existing nonresidential fee deferral program are proposed and the development impact fees eligible for deferral will not change with this amendment. These fees include, but are not limited to:

·

Fire Service Construction Tax Fee Equivalent (Development Agreements) ·

Public Facilities Fee
·

Local Sewer Fee
·

Sewer Special Benefit Area
·

Water Connection Fees (domestic & irrigation)
·

Water Pressure Zone
·

Traffic Mitigation Fee
·

Solid Waste Fee
·

Electric Backbone Fee
·

Air Quality Program Fees

To provide the City with the most flexibility to negotiate mutually beneficial agreements, nonresidential fee deferral proposals (past occupancy) will be reviewed on a case by case basis to determine the appropriate administrative processing fees, maximum loan amount, and market interest rate charged on the deferred fees. All future agreements above $100,000 will require a public hearing, Council approval and consistency with the requirements noted above.

FISCAL IMPACT
The nonresidential fee deferral program will result in an increase in staff time.

However,
administrative processing fees and interest will be charged to cover these costs, resulting in a minimal fiscal impact on the General Fund.

In addition, the proposal incentivizes affordable
housing projects that bring additional construction jobs and helps the City achieve the job housing balance necessary to support the community.

ENVIRONMENTAL REVIEW
The California Environmental Quality Act (CEQA) only applies to projects which have the potential to cause a significant effect on the environment. Where it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment, the activity is not subject to CEQA. (CEQA Guidelines §15061(b)(3)).

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal A - Remain fiscally responsible in a changing world.

Goal D - Enhance economic vitality

Respectfully Submitted,
Wayne Wiley, Economic Development Manager
Melissa Anguiano, Economic Development Director

_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Ordinance
ORDINANCE NO.

ORDINANCE OF THE COUNCIL OF THE CITY OF ROSEVILLE AMENDING SECTION

4.04.040 OF CHAPTER 4.04 OF TITLE 4 THE ROSEVILLE MUNICIPAL CODE

REGARDING DEVELOPMENT IMPACT FEE DEFERRALS

THE CITY OF ROSEVILLE ORDAINS:

SECTION 1. The section of the Roseville Municipal Code listed above is hereby amended to read as shown on Attachment “A”.

SECTION 2. This ordinance shall be effective at the expiration of thirty (30) days from

the date of adoption.

SECTION 3. The City Clerk is hereby directed to cause this ordinance to be published

in full at least once within fourteen (14) days after it is adopted in a newspaper of general circulation in the City, or shall within fourteen (14) days after its adoption cause this ordinance to be posted in full in at least three (3) public places in the City and enter in the Ordinance Book a certificate stating the time and place of said publication by posting.

PASSED AND ADOPTED by the Council of the City of Roseville this day of

, 20 , by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:

MAYOR

ATTEST:

City Clerk

ATTACHMENT "A"

§ 4.04.040 Nonresidential development impact fee deferral.

A. Deferral of nonresidential development impact fees $100,000.00 or greater shall require approval by the city council.

B. Deferral of nonresidential development impact fees less than $100,000.00 may be approved by the city manager or designee.

C. Deferred nonresidential development impact fees shall be paid prior to the issuance of a certificate of occupancy, or final approval of a building permit if no certificate of occupancy is required.

D. Any request for deferral of a nonresidential development impact fee shall be accompanied by payment of an administrative fee as established by resolution and adopted by the city council, as amended from time to time. Additionally, city’s lost interest income on deferred fees shall be paid prior to the issuance of a certificate of occupancy, or final approval of a building permit if no certificate of occupancy is required.

E. Notwithstanding Section C above, for an “affordable housing project”, deferred nonresidential development impact fees may be paid after the issuance of a certificate of occupancy, or final approval of a building permit if no certificate of occupancy is required, but in no event later than the earlier of: (1) one (1) year after the issuance of the first certificate of occupancy, or first final approval of a building permit if no certificate of occupancy is required, or (2) three (3) years after the issuance of the first building permit. For purposes of this section, an “affordable housing project” is defined as a residential multi-unit (three or more units) housing project that meets all of the following:

1. Provides one hundred (100) percent of the units, except any manager or caretaker units, as affordable units for low, very-low or extremely low income;

2. Complies with the City’s Objective Design Standards;

3. Enters into an Affordable Housing Agreement (as defined in Section 19.28.110, as may be amended from time to time);

4. Enters into a promissory note for the deferred fee amount that is secured by a deed of trust and/or other acceptable security interest, and

5. Agrees to follow all other requirements of this Section 4.04.040.

COUNCIL COMMUNICATION
CC #:
3359
File #:
0900-04 & 0201-01
Title:

Permit Center Remodel Construction Project – Capital Improvement Project Approval and Budget Adjustment
Contact:

Lori Crittenden 916-774-5707 [email protected]

Meeting Date: 6/5/2024
Item #: 6.31.

RECOMMENDATION TO COUNCIL
Staff recommends that the City Council authorize the establishment of a new Capital Improvement Project, the Permit Center Remodel Construction Project ("Project"), and adopt an ordinance to approve a budget adjustment appropriating $1,000,000 from the General Fund Capital Reserve Fund to the Project for remodel of the Permit Center lobby including design, construction, and security upgrades.

BACKGROUND
This Project provides funding to construct a needed security renovation to the Permit Center. The Permit Center lobby and counter is a critical point of vulnerability for the Civic Center, and Permit Center staff have experienced threatening behavior from individuals aggrieved with the City. It is also the only remaining public counter in the building without access controls and ballistic barriers.

In May of 2022, the Roseville Police Department conducted a threat assessment of the Permit Center lobby and identified a number of improvements recommended to reduce risk to staff and prevent unauthorized access to the secured areas of the Civic Center. Various shorter-term improvements were made in response to the assessment recommendations, including controlling access points to the Permit Center, a remote locking mechanism for the Permit Center main entry doors, security cameras, and other measures. However, more significant improvements were also identified, including secured entry doors from the lobby to employee-only areas behind the counter and a ballistic barrier. The proposed project would implement these recommendations.

In addition to providing critical security enhancements, the renovation will provide additional secured floor space to meet the space needs of the Development Services Department.

FISCAL IMPACT
A budget adjustment in the amount of $1,000,000 is being requested to fully fund the design and construction of the Permit Center Remodel. Funding for the Project will come from available resources in the General Fund Capitol Reserve Fund.

ENVIRONMENTAL REVIEW
The proposed project involves the minor alteration of an existing facility. This activity is categorically exempt from CEQA as a Class 1 Exemption (State CEQA Guidelines Section 15301). The Exemption has been prepared and no further CEQA action is required.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal E - Deliver exceptional city services
Goal F - Invest in well-planned infrastructure and growth

Respectfully Submitted,
Lori Crittenden, Project Coordinator
Jason Shykowski, Public Works Director

ATTACHMENTS:

Description
Ordinance 6819
CEQA Exemption
ORDINANCE NO. 6819

ORDINANCE OF THE COUNCIL OF THE CITY OF ROSEVILLE
AUTHORIZING CERTAIN AMENDMENTS TO THE FISCAL YEAR 2023-24

BUDGET AND DECLARING THIS ORDINANCE TO BE IMMEDIATELY

EFFECTIVE AS AN APPROPRIATION MEASURE

THE CITY OF ROSEVILLE ORDAINS:

SECTION 1 . The City of Roseville Annual Budget, Fiscal Year 2023 -24, is hereby amended as listed on the attached budget adjustment for the Permit Center Remodel Construction project.

SECTION 2. This ordinance is hereby declared to be an appropriation measure, immediately effective pursuant to the provisions of Section 5.03 of the Charter.

SECTION 3. The City Clerk is hereby authorized and directed to post a true copy of the foregoing ordinance in each of three (3) conspicuous locations in the City and she shall immediately after such posting enter in the ordinance book, under the record of the ordinance, a certificate under her hand stating the time and place of such publication by posting.

PASSED AND ADOPTED by the Council of the City of Roseville, this day of , 2024, by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:

MAYOR
ATTEST:

City Clerk

EXPENDITURES/EXPENSES/TRANSFERS OUT

REQUEST FOR BUDGET ADJUSTMENT
Updated 12/1/2023
ACCOUNT STRING BUDGET ($) DESCRIPTION Fund Account Center Project Adjustment 1001 6587 84001 500529 975,000 Establish budget for Permit Center Remodel Project 1001 5080 84001 500529 25,000 Establish budget for Permit Center Remodel Project

1012

6810

10001

1,000,000 Transfer out to the General Fund for 500529 - Permit Center Remodel Project

EXPENDITURES/EXPENSES/TRANSFERS OUT TOTAL 2,000,000

REVENUES/TRANSFERS IN
ACCOUNT STRING BUDGET ($) DESCRIPTION Fund Account Center Project Adjustment

1001

4810

10001

1,000,000 Transfer in from General Fund Capital Reserve Fund for 500529 - Permit Center Remodel Project

REVENUES/TRANSFERS IN TOTAL 1,000,000

NET ADJUSTMENT 1,000,000

FUND BALANCE
ACCOUNT STRING BUDGET ($) DESCRIPTION Fund Account Center Project Adjustment 1012 3601 00000 000000 (1,000,000) Decrease General Fund Capital Reserve Fund 3601 00000 000000
3601 00000 000000
3601 00000 000000
3601 00000 000000
3601 00000 000000
FUND BALANCE TOTAL (1,000,000)

Justification for Budget Adjustment:

This budget adjustment is needed to establish project 500529 – Permit Center Remodel which includes lobby design, construction, and the security upgrades.

This project will be funded by a transfer from 1012 - General Fund Capital Reserve Fund.

REQUESTER NAME & TITLE: Dan Allen, Public Works Manager FISCAL YEAR: 2023-24 PREPARER NAME & TITLE: Daniel Leonardich, Management Analyst II COUNCIL DATE (if applicable): 05/15/24 DEPARTMENT/DIVISION: Public Works ORDINANCE:

Notice of Exemption

To: Placer County Clerk From: City of Roseville
Recorder’s Office Development Services Dept.
2954 Richardson Drive 311 Vernon Street
Auburn, CA 95603 Roseville, CA 95678

Project Title: Permit Center Remodel Construction Project – Capital Improvement Approval and Budget Adjustment

Project Location(s): 311 Vernon Street, Roseville, California 95678 (APNs 013-124-017-000, 013-124- 018-000, 013-124-022-000, and 013-124-023-000)

Project Description: This project requests a budget adjustment appropriating $1,000,000 from the Public Facilities Fund to the p roject for a remodel of the Permit Center lobby including design, construction, and security upgrades . The upgrades would be built out within the existing building, involving the movement of walls, electrical components, plumbing, and other systems. The project enable staff to better serve customers in the Permit Center and would not result in any increase in new or unplanned growth.

Public Agency Approving Project: Roseville City Council

Agency/Individual Carrying Out Project: City of Roseville Public Works Department

Reason why this Project is Exempt: This project qualifies for a Class 1 E xemption as described in Section 15301 of the California Environmental Quality Act (CEQA) guidelines which states:

“Class 1 consists of the …minor alteration of existing public…structures, facilities, [or] mechanical equipment…involving negligible or no expansion of existing or former use…. Examples include but are not limited to: (a) Interior or exterior alterations involving such things as interior partitions, plumbing, and electrical conveyances…”

The project is confined to within the existing Civic Center and on City property and would not result in expansion of use. No environmentally sensitive resources are located within any of the properties ; therefore the Class 1 exemption is applicable to the proposed project.

Lead Agency Contact Person: Lori Crittenden, Public Works Department – Facility Rehab Division, 2005 Hilltop Circle, Roseville, CA 95747. (916) 774-5707.

Signature: Date: 5/15/2024
Jessica Lynch, Environmental Coordinator,
City of Roseville

COUNCIL COMMUNICATION
CC #:
3336
File #:
0900-02 & 0201-01
Title:

Aquifer Storage and Recovery Wells Design Project - Professional Design Services Agreement Amendment and Budget Adjustment
Contact:

Janice Gainey 916-774-5535 [email protected]
Meeting Date: 6/5/2024
Item #: 6.32.

RECOMMENDATION TO COUNCIL
Staff recommends that the City Council:
1 .

Adopt a resolution to approve a second amendment to the professional design services agreement with Carollo Engineers, Inc. for the Aquifer Storage and Recovery Wells Design Project, and authorize the City Manager to execute it; and 2 .

Adopt an ordinance to approve a budget adjustment of $1,846,086 from available resources in the Water Construction Fund to fully fund the project.

BACKGROUND
The objective of this project is to support Roseville’s groundwater program by designing Aquifer Storage and Recovery (ASR) wells that will diversify Roseville’s water supply and ensure the City’s water supply reliability is optimum to meet the needs of our customers and provide the foundation for a thriving economy.

After a competitive proposal process, a professional design services agreement was awarded to Carollo Engineers on April 1, 2020, for design and engineering support during construction for ASR wells.

On January 19, 2022, an amendment to Carollo’s contract (Amendment 1) was approved to provide design of water treatment facilities to address water quality related to the presence of iron and manganese compounds in ground water at the Westbrook (Well 9) and Solaire (Well 18) facilities. Amendment 1 also increased the scope of work to provide support of Programmable Logic Controllers (PLC) programming and Supervisory Control and Data Acquisition (SCADA) system integration.

The original contract proposal included the design of two wells: Westbrook and Solaire. The proposal also included optional scope and fees to provide additional design services and engineering services during construction for up to four additional wells. These services were described as optional Task 10 in Carollo’s proposal. This Second Amendment will authorize these services for two ASR wells: Campus Oaks (Well 13) and Misty Wood (Well 19).

Environmental Utilities is requesting additional Carollo scope for PLC and SCADA system programming and SCADA system integration on the Campus Oaks and Misty Wood wells to be included in their Contract Second Amendment.

FISCAL IMPACT
The requested budget adjustment of $1,846,086 for the Aquifer Storage and Recovery Wells – Design project will be funded from available resources in the Water Construction Fund. This amount will cover the amendment with Carollo Engineers, Inc. ($1,771,086) and additional estimated City staff labor expenses ($75,000), bringing the new project budget to $6,369,033.

ENVIRONMENTAL REVIEW
Implementation of the proposed project was previously evaluated in the 2012 ASR Program Final EIR (State Clearinghouse No. 2009072018) certified by City Council on March 29, 2012. The proposed project is consistent with the scope of the project covered by the 2012 ASR Final EIR.

All applicable mitigation measures from the ASR Program Final EIR will be implemented during the design and construction of the project and consequently no additional CEQA review is required for design and construction approval.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal F - Invest in well-planned infrastructure and growth

Respectfully Submitted,
Janice Gainey, Principal Engineer
Richard Plecker, Environmental Utilities Director

_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Resolution 24-151
Carollo Second Amendment
Ordinance 6817
RESOLUTION NO. 24-151

APPROVING A SECOND AMENDMENT TO PROFESSIONAL DESIGN SERVICES

AGREEMENT, BY AND BETWEEN THE CITY OF ROSEVILLE AND CAROLLO ENGINEERS, INC., AND AUTHORIZING THE CITY MANAGER TO EXECUTE IT

ON BEHALF OF THE CITY OF ROSEVILLE

WHEREAS, a Second Amendment to Professional Design Services Agreement for the Aquifer Storage Recovery Well and Pump Station project, by and between the City of Roseville and Carollo Engineers, Inc., has been reviewed by the City Council; and

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Roseville that said second amendment is hereby approved and that the City Manager is authorized to execute it on behalf of the City of Roseville.

PASSED AND ADOPTED by the Council of the City of Roseville this ___ day of ______________, 2024, by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:

______________________________
MAYOR

ATTEST:

________________________
City Clerk

[\\Rosenet\rosenetdfs\CITY ATTORNEY\CYCOM\WPDOCS\D029\P004\00086428.DOCX:04/29/2024]

SECOND AMENDMENT TO

PROFESSIONAL DESIGN SERVICES AGREEMENT
Aquifer Storage Recovery Well and Pump Station Project

THIS SECOND AMENDMENT TO PROFESSIONAL DESIGN SERVICES
AGREEMENT is made and entered into this ___ day of __________, 20__, by and between the City of Roseville, a municipal corporation (“CITY”), and Carollo Engineers, Inc., a Delaware corporation (“CONSULTANT”); and

W I T N E S S E T H:

WHEREAS, CITY and CONSULTANT previously entered into a Professional Design Services Agreement dated April 1, 2020, and amended on January 19, 2022 (“Agreement”) regarding the design, construction, and installation for the Aquifer Storage Recovery Well and Pump Station Project (“Project”);
WHEREAS, CITY desires to amend the Agreement to include additional services as described in CONSULTANT’s letter/proposal dated April 24, 2024, which is attached hereto as Exhibit “A” and incorporated herein by reference; and
WHEREAS, CONSULTANT is willing and able to provide such additional services; and

NOW, THEREFORE, the parties agree as follows:

1. CONSULTANT shall provide additional services as described in Exhibit “A” of this Second Amendment to Agreement.

[\\Rosenet\rosenetdfs\CITY ATTORNEY\CYCOM\WPDOCS\D029\P004\00086428.DOCX:04/29/2024]

2. Section 2 of the Agreement is amended by adding an additional paragraph to read as follows:
“CITY shall pay one million, seven hundred seventy-one thousand eight-six dollars ($1,771,086), in consideration of the additional services as set forth in Exhibit “A” to the Second Amendment to Agreement. This brings the total not to exceed contract amount to six million three hundred sixty-nine thousand thirty-three dollars ($6,369,033).”
. 3. The Agreement is amended by adding an additional paragraph for compliance with AB334 to read as follows:
“27. Public Contracts: Conflicts of Interest. CONSULTANT’s duties and services under this Agreement shall not include preparing or assisting CITY with any portion of the CITY’s preparation of a request for proposals, request for qualifications, or any other solicitation regarding a subsequent or additional contract with CITY. CITY shall at all times retain responsibility for public contracting, including with respect to any subsequent phase of this project. CONSULTANT’s participation in the planning, discussions, or drawing of project plans or specifications shall be limited to conceptual, preliminary, or initial plans or specifications. CONSULTANT shall cooperate with CITY to ensure that all bidders for a subsequent contract on any subsequent phase of this project have access to the same information, including all conceptual, preliminary, or initial plans or specifications prepared by CONSULTANT pursuant to this Agreement.”

4. All other provisions of the Agreement shall remain unchanged and in full force and effect.

[\\Rosenet\rosenetdfs\CITY ATTORNEY\CYCOM\WPDOCS\D029\P004\00086428.DOCX:04/29/2024] I N WITNESS WHEREOF, the City of Roseville, a municipal corporation, has authorized the execution of this Second Amendment to Agreement in duplicate by its City Manager and attested to by its City Clerk under the authority of Resolution No. _________, adopted by the Council of the City of Roseville on the ___ day of ___________, 20__, and CONSULTANT has caused this Second Amendment to Agreement to be executed.

C
ITY OF ROSEVILLE, a CAROLLO ENGINEERS, INC., a
municipal corporation Delaware corporation
B
Y: _______________________________ BY: _______________________________ DOMINICK CASEY its: _______________________________
City Manager

and
ATTEST:

BY: _______________________________
its: _______________________________
B
Y: _______________________________

CARMEN AVALOS
City Clerk
AP
PROVED AS TO FORM:

B
Y: _______________________________

MICHELLE SHEIDENBERGER
City Attorney
(

SIGNATURES CONTINUED ON NEXT PAGE)
Vice President
Senior Vice President

[\\Rosenet\rosenetdfs\CITY ATTORNEY\CYCOM\WPDOCS\D029\P004\00086428.DOCX:04/29/2024]

APPROVED AS TO SUBSTANCE:

BY: _______________________________
RICHARD D. PLECKER
Environmental Utilities Director

[\\Rosenet\rosenetdfs\CITY ATTORNEY\CYCOM\WPDOCS\D029\P004\00086428.DOCX:04/29/2024]

EXHIBIT “A”

4/24/24 Page 1

AMENDMENT NO. 2 SCOPE OF SERVICES

City of Roseville
Environmental Utilities Department
Professional Design Services Agreement - Aquifer Storage and Recovery Wells Project April 24, 2024

PURPOSE

This Amendment 2 is to describe additional services to be provided by the Carollo Engineers consultant team to support the Aquifer Storage and Recovery (ASR) Wells Design Project.

This amendment incorporates two additions to scope of the Original Contract:
• Task 10. This task was identified in the original project proposal as “optional” and provided a scope and fee for Detailed Design and Engineering Services During Construction (ESDC) for four additional wells. This amendment would authorize this scope for two of the four originally contemplated additional wells; Well 13-Campus Oaks and Well 19-Misty Wood.
• Task 13. This is a new task to provide PLC and SC ADA programming for the two additional wells identified in task 10.

TASK 10 DETAILED DESIGN AND ENGINEERING SERVICES

DURING CONSTRUCTION FOR CAMPUS OAKS AND MISTY

WOOD WELLS

TASK 10 - PURPOSE

This additional scope was considered and described in the original proposal as Optional Task 10 - Detailed Design and Engineering Services during Construction (ESDC) for four (4) additional wells. Amendment 2 authorizes detailed design and ESDC services for the first two (2) of four (4) additional well sites (Campus Oaks and Misty Wood) as defined in Optional Task

10. TASK 10 - BACKGROUND AND CONSIDERATIONS

As part of Environmental Utilities’ long-term water supply planning, six (6) sites were identified for well installations enabling the City to implement the conjunctive use of surface and groundwater to enhance water supply reliability. The new well facilities were to be constructed with the capability for groundwater extraction and surface water injection. This conjunctive use feature of the wells is more broadly termed Aquifer Storage and Recovery (ASR).

In April 2020 Carollo was awarded a Professional Design Services Agreement for Design and ESDCs for this project.

4/24/24 Page 2

The approach and scope of services outlined in the original proposal identified the scope of services for the first two wells as “Package 1” and included the Westbrook (Well 9) and Solaire (Well 18) ASR wells. An optional task (Task 10) described the scope of services for four additional wells and described this as “Package 2”. This Amendment will split Package 2 into two parts. Package 2 will now consist of the scope of services for just two (2) wells; Campus Oaks (Well 13) and Misty Wood (Well 19). A future Package 3 is anticipated to provide scope of services for the final two wells.

TASK 10 - SCOPE
The scope of work for this Amendment 2 will be as described in Optional Task 10 from the original contract which is attached to this Amendment (Attachment A), with the exception that it is for two wells instead of 4. An outline of that scope is included here with full details included in the original contract.

TASK 10 – Detailed Design and ESDC for 2 Additional Wells (Campus Oaks and Misty Wood). Under this optional task detailed design and ESDC will be performed for the 2 additional wells previously implemented through the PDR phase. It is assumed that the detailed design of these 2 well sites (Package 2) will be similar in concept to the previous Package 1 well designs, with minor modifications to account for well and site characteristics only.

TASK 10.1 - CONSTRUCTION DOCUMENTS
Under this task Carollo will further develop sets of detailed design drawings and construction specifications for this project: one for construction of each of the 2 additional ASR well sites.

TASK 10.2 - ASSIST CITY IN OBTAINING NECESSARY PERMITS
Under this task Carollo will further assist the City with determining what permits and agency authorizations are required for the 2 additional ASR wells.

TASK 10.3 - ENGINEERING SERVICES DURING CONSTRUCTION (PACKAGE 2) Under this task Carollo will further provide engineering services during construction (ESDC) associated with the 2 additional ASR wells.

TASK 10 - COST

The original budget for design and ESDC of the next 4 wells was a total of $2,514,546.40. and was to occur from 2020 to 2021. Since the services provided under this amendment will be for the first 2 of the 4 additional well sites, the authorized budget will be for half of the optional Task 10, or $1,257,273,20. It is now anticipated that a Design-Assist Contractor will be given notice to proceed (NTP) in the third quarter of 2024, and construction will be complete by the end of 2025 or early 2026. It is proposed that the cost for design and ESDC services for the first 2 additional wells be increased due to inflation and based on a mid-point of construction in mid-2025 and a

5.5% per year inflation rate to $1,476,342.00. These costs are effective until January 2026. .

4/24/24 Page 3

Costs for Task 10 are detailed in the attached fee proposal, Attachment B. Costs will be billed monthly on a time and materials not-to-exceed basis. Hourly rates are as shown in the attached Fee Schedule, Attachment C.

TASK 10 - SCHEDULE
The schedule of completion for the work described in this base scope of services is approximately 18 months from the Notice to Proceed.

TASK 13 PROGRAMMING SERVICES FOR CAMPUS OAKS AND

MISTY WOOD WELLS
TASK 13 – PURPOSE
This additional Task 13 scope is described below as programming services to support the City during the construction phase of Campus Oaks and Misty Wood Wells.

A description of the scope of work for each of these tasks is provided below. Task numbers have been selected to align with and be in addition to existing project scope Tasks 1-12.

TASK 13 – BACKGROUND CONSIDERATIONS

Addendum 1 to the original proposal included a Task 12 which included the HMI (SCADA) programming for Westbrook and Solaire wells. This Addendum 2 includes the addition of Task 13 and described in the scope of work below and includes the PLC and HMI (SCADA) programming for the Campus Oaks and Misty Wood wells.

GLOSSARY OF TERMS AND CONDITIONS

• Commissioning Coordinator (CC) – Commissioning Coordinator is provided by the General Contractor in accordance with Section 46_08_17 (Commissioning) and shall have the responsibilities described therein .
• Complete End-to-End Testing (CEET) – After the Electrical Contractor has "fully completed and submitted all loop drawings to the ENGINEER for review and acceptance” and the instrumentation and control system contractor (ICSC) has completed the control system “Installation Testing”, the PROGRAMMER will go to the field and load the Programmable Logic Controller (PLC) program for testing. In addition, the PLC is connected to the AWTF PLC network at this time for hard wire end to end test only. During the CEET, signals are tested through the PLC program, the AWTF PLC network, and all the way to the operator’s AWTF SCADA graphic screens. • Contractor (GC) – To be determined.

4/24/24 Page 4

• City – City of Roseville
• Electrical Contractor (EC) – To be determined.
• Engineer – Carollo Engineers, Inc.
• Factory Acceptance Test (FAT) – Test components, devices, and equipment/system for proper performance at point of manufacture or assembly before shipping to the site. Also referred to as Source Testing.
• Final Completion – All punch list items including any programming fine tuning has been completed.
• Functional Test (FT) – After CEET and the Contractor's Manual Equipment Testing, the FT will be performed by the PROGRAMMER with assistance (full-time) from the Contractor. Some OWNER assistance shall also be required. Construction inspection staff shall witness the tests. The purpose of the FT is to verify the proper operation of all PLC control logic and its interaction with field equipment and devices. Feedback control loops will also be tuned at this time.
• Human Machine Interface (HMI) – A software application that presents information to an operator or user about the state of a process, and to accept and implement the operators control instructions. Typically, information is displayed in a graphical format. • Instrumentation and Control System Contractor (ICSC) –– Subcontractor who specializes in the design, construction, fabrication, software development, installation, testing, and commissioning of industrial instrumentation and control systems. The PLC programming will be provided by Carollo.
• Local Operator Interface (LOI) - Local Operator Interface is an operator interface device consisting of an alphanumeric or graphic display with operator input functionality. The LOI is typically a flat panel type of display mounted on the front of an enclosure with either a touch screen or tactile button interface.
• Operator Interface Terminal (OIT): PC-based interface device used for operator interface with the SCADA system.
• PCM – Process Control Module
• PLCs – Programmable Logic Controllers
• Programmer – Carollo - Engineer’s programming services group who will complete the services defined herein.
• SCADA – Supervisory Control and Data Acquisition
• Substantial Completion – Treatment process and programming is capable of producing water that meets the Project requirements. Because the OWNER receives beneficial use of the facility, the Warranty Period begins following Substantial Completion. • System Integrator – Carollo
• Vendor Packages – Any manufacture supplied equipment and/or systems. • VPN – Virtual Private Network.

4/24/24 Page 5

SCOPE DEVELOPMENT CRITERIA
This Programming scope of work is based upon the following requirements, work by others and the listed assumptions based on the Draft 90% Design and Specifications (November 2021):

1. HMI Programming for 138 hard-wired I/O and 60 so ft I/O

2. Development of approximately 20 +/- 5 SCADA scre ens

3. Trending of all analog I/O

4. Coordinate process control system development wi th Vendor supplied systems and Barton Water Treatment Plant.

The development of the PLC programming provided by Carollo includes the integration of four (4) vendor-supplied PLC control systems. To allow the Programmer sufficient time to develop their final PLC programs before the on-site Installation and FT tasks, the Vendors supplying the Sodium Hypochlorite, Fluoride, Sewer Lift Station, and Downhole Flow Control Valve systems shall provide the following to the Programmer no later than 70 days before the start date of the Vendor Factory Acceptance Test:

1. All “Final” PLC programs, completely tested, wit h full annotation and documentation.

2. A complete and “Final” I/O list provided in Exce l format, with additional columns denoting all “send” and “receive” global data and PLC-PLC Interlocks (each interlock explained in a word document and/or flow chart).

3. A complete list of tags, which the Vendor requir es, displayed on the plant-wide SCADA system matching the existing SCADA system format for tag naming and description (both tag naming conventions and descriptions will be discussed in the first mandatory programmer meeting).

4. All operating parameters, set points, alarm leve ls, historical data, and trending which the Vendors systems require being functions of the plant-wide SCADA system.

Assumptions – Contractor’s Responsibilities

1. The Contractor shall be responsible for preparin g formal testing and startup plans in accordance with the contract documents.

2. The Contractor shall be responsible for creating field signals and verifying proper operation of final control elements. It is assumed that full-time dedicated Contractor staff assistance shall be provided during the CEET. It has been assumed that the CEET will last two (2) days per well site.

3. The Contractor’s Commissioning Coordinator (CC) shall be responsible for coordinating the work of the Contractor with the Programmer’s programming and testing activities.

The CC shall submit construction project schedules and startup plans to Carollo’s Programmer for review and comment.

SUBTASK 13.1 Project Coordination
The purpose of this task is to provide ongoing project coordination, management, review of deliverables, and project meetings.

4/24/24 Page 6

13.1.1 Project Management and Administration
All phases of the work will be managed under a single project management task for project execution, office administration, invoicing, coordinating work of the programming team, and coordinating and reporting on the progress of the project to the City.

Project Manager (PM) will assign labor resources for completion of project tasks, review work products, respond to City requests and concerns, and maintain communications with City staff to provide satisfactory completion of the work on schedule and within budget. Under this task, Project Manager will also prepare progress reports to send with monthly billing invoices.

13.1.2 Meetings. Carollo will schedule a project kick-off meeting and technical review meetings to facilitate dialogue between all project team members and to review schedule and coordination required between the ICSC and Programmer.

Coordination meetings with key staff will be scheduled as telephone conference calls.

We propose the following meetings during the design phases of the project:
• Kickoff Meeting (4 hours)
• Weekly Coordination Meetings (1/2 hour calls for 1 2 weeks) • Programming Workshop (4 hours)
• Implementation Planning (2 hours)
Up to three additional miscellaneous project meetings (as required) averaging 2-hours each with the programming team’s PM and Lead Programmer.

13.1.3 Quality Control/Quality Assurance. Carollo will provide quality control and quality assurance throughout project completion. This includes completion of a task to set up a system for tracking work progress and expenditures, per Carollo standard procedures.

Carollo’s PM will implement the completion of formal internal review procedures (which includes formal review by senior staff) prior to submittal of all project deliverables to provide an objective check on the adequacy of the design and related work products.

Task 13.1 Meetings (Note design-related meetings are described in the associated design tasks below)
- Kickoff Meeting
- Weekly Coordination Meetings
- Three additional project meetings throughout the project Task 13.1 Deliverables
- Information Request Log Meeting agendas, presentation materials, handouts, and meeting summary notes.
- Monthly invoices.
- Monthly progress reports.

Task 13.1 Assumptions
- Project management fee is based on an overall project duration projection of 18 months.

4/24/24 Page 7

- The level of effort for PM calls is based on weekly 1-hr conference calls between Carollo and the City’s project manager, with other City staff invited by the City’s project manager.
- The fee estimate for additional project meetings (3) assumes participation of two (2) Carollo team members for an average of two (2) hours per meeting.

SUBTASK 13.2 Programming Investigations

13.2.1 Engineering and Programming Investigations. Carollo will work with the City’s staff to review the City’s existing PLC programming standards that have been developed for Westbrook and Solaire. This effort should include review of the following:
• Control strategies
• PLC programming standards
• Approach to template development
Carollo’s PM will develop an Information Request Log, which will be updated and shared with the City regularly to facilitate ongoing collection of data/information and on-schedule completion of the work.

Task 13.2 Assumptions
- City will provide Carollo’s Programmer with their existing programming standards and template PLC and HMI files.
- This Programming Investigations task was completed for HMI development during the programming effort for the Westbrook and Solaire Wells and is not required for the Misty Wood and Campus Oaks project.

SUBTASK 13.3 Process control software development
Carollo will provide PLC and HMI programming for the two wells sites, Campus Oaks and Misty Wood, using the City provided templates as outlined in Task 12 , Westbrook and Solaire, as a starting point. The programming for the HMI and PLC will follow the P&IDs and process control narratives developed by Carollo for this project.

13.3.1 Configure Hardware and Software Carollo’s programmer will install and configure the PCS software for the local pump room OIT and main electrical room PLC at the well sites.

13.3.2 PLC Programming Carollo’s Programmer will develop the process logic programming for two (2) new Modicon M340 PLCs supplied by the Contractor under the instrumentation and controls sections of the specifications.

PLC code will include program documentation and comments in accordance with project programming standards. Programmer will provide annotated function blocks to assist with future adjustments/troubleshooting of the program.

Programmer will perform the SCADA and PLC monitoring and control functions defined in the applicable control strategies in the Construction Contract Documents.

Programmer will not be responsible for the programming of PLCs provided by packaged system vendors; this shall be the responsibility of the Contractor’s suppliers.

4/24/24 Page 8

PLC’s provided by vendors of packaged systems will be integrated into the SCADA system by Carollo’s Programmer. This will require coordination of programming work between Programmer and the vendors. The vendors shall be responsible for all logic in their respective PLCs, and they shall be required to define the PLC registers in their PLCs that will allow remote starting and stopping of their systems, monitoring of data for display, alarming, event logging, trending, etc., and any other functions as required by the Construction Contract documents.

Other equipment vendors that will have local control panels or digital interfaces that must interface with the SCADA/PLC system in a special way. Programmer will coordinate with the equipment suppliers to provide proper control functionality between their equipment and the SCADA system.

Carollo’s Programmer will coordinate the HMI and PLC interfaces with these equipment suppliers. This will require vendor coordination meetings, review of equipment submittals, and exchange of technical information. Carollo’s Programmer will submit RFIs to the Construction Manager for transmittal to the Contractor, as needed.

13.3.3 HMI Programming Carollo’s Programmer will configure / program the SCADA operator interface system to incorporate new signals and graphic screens per the project process and instrumentation drawings. Programmer will develop HMI graphic screens to provide monitoring and control of equipment connected to the PLCs.

Carollo’s programmer will develop HMI screens to conform with the programming standards as reviewed during the software standards workshop.

Carollo’s Programmer will review all HMI screens with OWNER staff prior to installation and startup. Programmer will incorporate all comments, revisions and changes provided by the City staff into the final configuration of the SCADA application software.

Carollo’s Programmer will provide data tags for inclusion by the City into the existing Historian.

City Staff shall perform all configuration and testing of the new historical data added to the existing historian.

Programmer will create and test a total of ten (10) trend screens based on decisions made with the City’s Staff during the Software Coordination Meeting.

13.3.4 Implementation Planning Carollo’s Programmer will coordinate with the City’s SCADA staff and ICSC to facilitate a software implementation meeting to go over factory test and field- testing procedures.

Task 13.3 Meetings
- PLC Programming Coordination Meetings
- Programming Workshop
- Implementation Planning
Task 13.3 Deliverables
- PLC Programs
- HMI programs for well sites

4/24/24 Page 9

- Implementation Plan
Task 13.3 Assumptions
- ICSC will procure and install all hardware relating to the PCS. - ICSC will provide all PLC programming related to the well sites and work with Carollo’s programmer during testing and startup activities.
- ICSC will deliver the PLCs and OITs to Carollo’s programmer 8 weeks prior to the scheduled FAT for configuration, programming, and testing activities as outlined in this scope.
- The City will provide all software licenses required for the OITs. - The City will provide programming standards and HMI templates to Carollo’s Programmer for use.
- Carollo is not responsible for programming or testing any vendor system OITs.

SUBTASK 13.4 Acceptance Testing

13.4.1 Internal Software Test Carollo’s Programmer will test all control strategies with the associated PLC and HMI programs to validate the control logic and corresponding graphical interface prior to installation.

13.4.2 Factory Acceptance Test Carollo’s Programmer will attend the PCS control panel FAT at ICSC’s facility.

Task 13.4 Deliverables
- Test Forms
SUBTASK 13.5 Installation, Testing, Startup, and Commissioning Under this task Carollo will coordinate onsite installation, testing, startup, and commissioning with the City’s staff.

13.5.1 Onsite Installation Carollo’s Programmer will coordinate the installation of the Computer Control Systems, PLC programs, and HMI software applications with City SCADA staff.

13.5.2 Complete End-to-End Testing (CEET) Carollo will work with the Contractor to provide CEET of instrumentation devices and subsystems as specified in Section 17950. Prerequisite for the instrumentation devices and subsystems loop check/validation installation tests is the submission of all loop drawings for review and approval and the ICSC’s completed control system installation. The instrumentation devices and subsystems CEET will occur only after the Contractor has submitted certified test reports that all field wiring has been tested and verified against the loop drawings. During the CEET, signals are tested through the PLC program, network, and to the OIT.

The CEET will be performed by the Programmer and Contractor working together, with assistance from the City and/or the inspection staff, as needed. Carollo’s Programmer will provide staff to verify input signals at, and create output signals from, the SCADA system.

4/24/24 Page 10

Carollo has included no more than three (eight hour) days per well site for completion of the CEET.

13.5.3 Functional Testing (FT) The purpose of the FT is to verify the proper operation of all PLC control logic and its interaction with field equipment and devices. Carollo will perform FT following the completion of CEET and the Contractor’s testing of the manual operation of equipment. The FT will be performed by Carollo.

Task 13.5 Deliverables
- Test Forms
Task 13.5 Assumptions
- Loop validation testing will be completed by the Contractor and approved by the City prior to testing activities outlined in this task.
- Contractor, ICSC, and City Staff will assist Carollo’s programmer for the testing activities outlined in this task.
- ICSC will perform all process startup and commissioning tasks. -

13.5.4 Process Startup and Commissioning The process startup will verify that the performance meets the contact document requirements. The process startup includes control loop tuning, individual process area startups followed by facility-wide process startup.

Once the performance tests have been verified, the Process Operational period begins. The Process Operational Period is a 30-day performance test to prove the facility conforms to the contract document requirements. Carollo’s programmer will be available on an as needed basis during this period.

SUBTASK 13.6 Final Documentation and Follow-Up Se rvices

13.6.1 Operation and Maintenance (O&M) Manuals Carollo will provide the following as part of the O&M Manuals:

1. CEET and FT results

2. SCADA system hardware and software
Electronic copies of the individual O&M sections listed above will be delivered to the Contractor for incorporation into the overall project O&M manual.

13.6.2 Warranty Period Services Carollo will provide the following Warranty Period Services:

1. On-call, dial-in adjustments during the 1-year w arranty period following substantial completion of the construction contract.

2. Attempt to troubleshoot the problem over the tel ephone to determine the cause and whether the reported problem is covered under warranty services.

4/24/24 Page 11

3. If the problem is covered under warranty service s, Carollo’s Programmer will determine the cause, determine what repairs or corrections are necessary, and perform necessary work.

4. Provide on-site staff to perform software repair s. Carollo’s Programmer will generally require one to two (1-2) working days’ notice to perform on-site repairs. However, for serious problems that disrupt treatment operations, the Programmer will make every reasonable effort to arrive on site as soon as possible after notification of the problem.

5. If the Programmer believes a reported problem is not covered under Warranty Services, the Programmer will promptly notify the City. The City will then either obtain repairs through other means or direct the Programmer to proceed with repairs.

6. The City’s Staff and Programmer will attempt to mutually determine and agree if a reported problem is covered by Warranty Services
Note: Warranty Services do not cover equipment, materials, services, or software provided by others. Warranty Services do not include equipment damage caused by misuse, accidental damage, electrical surges, or other events outside the control of the Programmer. Warranty Services do not include work performed by the City or by the Contractor and others hired by the City. The reloading of programs, software files and configuration parameters that becomes necessary due to the failure of equipment provided by others or the negligent acts of others (i.e., not the Programmer) is not covered by the warranty.

Task 13.6 Deliverables
- O&M Manual

TASK 13 - CITY STAFF ASSISTANCE

City staff is expected to provide the following services:
• Attend all coordination meetings, construction mee tings, and conference calls.

Coordinate with interested City departments for attendance as required. • Provide review of PLC program to be installed at t he well sites. • Provide review of HMI program to be installed at t he well sites. • Participate in and attend meetings with the projec t team to discuss issues, concerns, opportunities, and challenges.

TASK 13 - COST
A Design-Assist Contractor will be given notice to proceed (NTP) in the third quarter of 2024, and construction will be complete by the end of 2025 or early 2026.

4/24/24 Page 12

Costs for this programing scope of services are detailed in the attached fee proposal, Attachment B. Costs will be billed on a monthly basis on a time and materials not-to-exceed basis. Hourly rates are as shown in the attached Fee Schedule, Attachment C.

ATTACHMENTS
Attachment A – Original Contract March 3, 2020
Attachment B – Amendment 2 Fee Proposal
Attachment C – Fee Schedule

Task Task Description $360 $340 $324 $274 $223 $149 $15 10 Detailed Design and ESDC for 2 Additional Wells

10.1,

10.2,

10.3 Construction Documents (Campus Oaks and Misty
Wood), Assist City in Obtaining Necessary Permits,
Engineering Services During Construction
1,476,342 $
TASK 10 TOTAL 1,476,342 $

13.1 Project Coordination

13.1.1 Project Management 20 8 - - - 28 9,792 $ 420 $ - $ 10 ,212 $

13.1.2 Meetings
32 - 34 - - - 66 22,536 $ 990 $ - $ 23,526 $ Kickoff Meeting 8 - 4 - - - 12 4,176 $ 180 $ - $ 4,356 $ Weekly Coordination Meetings 12 - 12 - - - 24 8,208 $ 360 $ - $ 8,568 $ Misc Meetings Throughout Project 6 - 6 - - - 12 4,104 $ 180 $ - $ 4,284 $ Programming Workshop 4 - 4 - - - 8 2,736 $ 12 0 $ - $ 2,856 $ Vendor Corrdination Meetings - - 6 - - - 6 1,944 $ 90 $ - $ 2,0 34 $ Implementation Planning 2 - 2 - - - 4 1,368 $ 60 $ - $ 1,428 $

13.1.3 Quality Control/Quality Assurance 8 8 - - - - 16 5,600 $ 240 $ - $ 5,840 $ SUBTASK 1 TOTAL 60 8 42 - - - 110 37,928 $ 1,650 $ - $ 39,578 $

13.2 Programming Investigations

13.2.1 Engineering and Programming Investigations - 8 16 - - - 24 7, 904 $ 360 $ - $ 8,264 $ SUBTASK 2 TOTAL - 8 16 - - - 24 7,904 $ 3 60 $ - $ 8,264 $

13.3 Process Control Software Development

13.3.1 Configure Hardware and Software - - 16 - - - 16 5,184 $ 240 $ - $ 5,424 $

13.3.2 PLC Programming - 40 160 - - - 200 65,440 $ 3,000 $ - $ 68,44 0 $

13.3.3 HMI Programming - - 180 - - - 180 58,320 $ 2,700 $ - $ 61,020 $

13.3.4 Implementation Planning 2 2 8 - . - 12 3,992 $ 180 $ - $ 4,172 $ SUBTASK 3 TOTAL 2 42 364 - - - 408 132,936 $ 6,120 $ - $ 139,056 $

13.4 Acceptance Testing

13.4.1 Internal Software Test - - 16 - - - 16 5,184 $ 240 $ - $ 5,424 $

13.4.2 Factory Acceptance Test - - 24 - - - 24 7,776 $ 360 $ 100 $ 8,236 $ SUBTASK 4 TOTAL - - 40 - - - 40 12,960 $ 60 0 $ 100 $ 13,660 $

13.5 Installation, Testing, Startup, and Commissioning

13.5.1 Onsite Installation - - 16 - - - 16 5,184 $ 240 $ 50 $ 5,474 $

13.5.2 Complete End-To-End Testing - - 48 - - - 48 15,552 $ 720 $ 500 $ 16,772 $

13.5.3 Functional Testing - - 48 - - - 48 15,552 $ 720 $ 500 $ 16,772 $

13.5.4 Process Startup and Commissioning 4 - 48 - - - 52 16,992 $ 780 $ 500 $ 18,272 $ SUBTASK 5 TOTAL 4 - 160 - - - 164 53,280 $ 2,460 $ 1,550 $ 57,290 $

13.6 Final Documentation and Follow-Up Services

13.6.1 Programming Documentation 4 - 20 - - 4 28 8,516 $ 420 $ 100 $ 9,036 $

13.6.2 Warranty Period Services - 40 40 - - - 80 26,560 $ 1,200 $ 100 $ 27,8 60 $ SUBTASK 6 TOTAL 4 40 60 - - 4 108 35,076 $ 1,620 $ 200 $ 36,896 $ TASK 13 TOTAL 70 98 682 - - 4 854 280,084 $ 1 2,810 $ 1,850 $ 294,744 $ 1,771,086 $
Notes:
1 Project Equipment and Communication Expense.

Senior Professional
(Elise Moore)
ATTACHMENT B - AMENDMENT 2 FEE PROPOSAL

BASE PROJECT TOTAL
Carollo
Total
PECE 1
Expenses

CITY OF ROSEVILLE, ENVIRONMENTAL UTILITIES DEPARTMENT

AQUIFER STORAGE AND RECOVERY WELLS PROJECT
April 24, 2024
Doc.

Process.

Total
Hours
Labor
Cost
Carollo Engineers, Inc. Assistant
Professional
Professional
Project Profissional
(Jeff Janowiak)
Lead Project
Professional (Amir
Najafi)
https://carolloh2o-my.sharepoint.com/personal/mducker_carollo_com/Documents/My Projects/Roseville/11843A10 Ph1&2 Westbrook & Solaire/Project Management/Contracts/Carollo/Attachment B - Amendment 2 Fee Proposal V4.xlsx 4/25/2024 CAROLLO ENGINEERS, INC.

FEE SCHEDULE

As of January 1, 2024
California

Hourly Rate
Engineers/Scientists
Assistant Professional $223.00
Professional 274.00
Project Professional 324.00
Lead Project Professional 340.00
Senior Professional 360.00
Technicians
Technicians 168.00
Senior Technicians 233.00
Support Staff
Document Processing / Clerical 149.00

Project Equipment Communication Expense
(PECE) Per DL Hour

15.00 Other Direct Expenses
Travel and Subsistence at cost
Mileage at IRS Reimbursement Rate
Effective January 1, 202 4

$0.67 per mile
Subconsultant cost + 10%
Other Direct Cost cost + 10%
Expert Witness Rate x 2.0

This fee schedule is subject to annual revisions due to labor adjustments.

ATTACHMENT C TO AMENDMENT 2 FEE SCHEDULE

CITY OF ROSEVILLE, ENVIRONMENTAL UTILITIES DEPARTMENT

AQUIFER STORAGE AND RECOVERY WELLS PROJECT
ORDINANCE NO. 6817

ORDINANCE OF THE COUNCIL OF THE CITY OF ROSEVILLE
AUTHORIZING CERTAIN AMENDMENTS TO THE FISCAL YEAR 2023-24

BUDGET AND DECLARING THIS ORDINANCE TO BE IMMEDIATELY

EFFECTIVE AS AN APPROPRIATION MEASURE

THE CITY OF ROSEVILLE ORDAINS:

SECTION 1 . The City of Roseville Annual Budget, Fiscal Year 2023 -24, is hereby amended as listed on the attached budget adjustment for Aquifer Storage and Recovery Wells Design project.

SECTION 2. This ordinance is hereby declared to be an appropriation measure, immediately effective pursuant to the provisions of Section 5.03 of the Charter.

SECTION 3. The City Clerk is hereby authorized and directed to post a true copy of the foregoing ordinance in each of three (3) conspicuous locations in the City and she shall immediately after such posting enter in the ordinance book, under the record of the ordinance, a certificate under her hand stating the time and place of such publication by posting.

PASSED AND ADOPTED by the Council of the City of Roseville, this day of , 2024, by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:

MAYOR
ATTEST:

City Clerk

REQUEST FOR BUDGET ADJUSTMENT
Updated 12/1/2023

REQUESTER NAME & TITLE: Janice Gainey, Principal Engineer FISCAL YEAR: 2023-24 PREPARER NAME & TITLE: Linda York, EU Business Analyst COUNCIL DATE (if applicable): 06/05/24 DEPARTMENT/DIVISION: EU/Water ORDINANCE:

EXPENDITURES/EXPENSES/TRANSFERS OUT
ACCOUNT STRING BUDGET ($) DESCRIPTION Fund Account Center Project Adjustment 6120 5301 84001 500155 1,771,086 To increase professional services budget for Aquifer Storage and Recovery Well - Design project (500155)
6120 5080 84001 500155 75,000 To increase internal labor budget for Aquifer Storage and Recovery Well - Design project (500155)

EXPENDITURES/EXPENSES/TRANSFERS OUT TOTAL 1,846,086

REVENUES/TRANSFERS IN
ACCOUNT STRING BUDGET ($) DESCRIPTION Fund Account Center Project Adjustment

REVENUES/TRANSFERS IN TOTAL -

NET ADJUSTMENT 1,846,086

FUND BALANCE
ACCOUNT STRING BUDGET ($) DESCRIPTION Fund Account Center Project Adjustment 6120 3601 00000 000000 (1,846,086) Decrease available resources in the Water Construction Fund (6120)
3601 00000 000000
3601 00000 000000
3601 00000 000000
3601 00000 000000
3601 00000 000000
FUND BALANCE TOTAL (1,846,086)

Justification for Budget Adjustment:

The Aquifer Storage and Recovery (ASR) Well - Design project (500155) requires a Second Amendment with Carollo Engineers for $1,771,086. The budget adjustment will add additional services to be provided by Carollo Engineers, Inc. as described in the original proposal as Optional Task 10 - Detailed Design and Engineering Services during Construction (ESDC) for four (4) additional wells. This Second Amendment authorizes detailed design and ESDC services for the first two (2) of four (4) additional well sites (Campus Oaks and Misty Wood). In addition, the amendment adds scope for additional PLC and SCADA programming and secondary labor expenses of $75,000. The existing project budget currently is $4,825,000, this budget adjustment would bring the new Project Budget total to $6,671,086.

COUNCIL COMMUNICATION
CC #:
3362
File #:
0800-03
Title:

Second Reading - Roseville Municipal Code Amendment - Solar Buyback Rate Contact:

Joanna Cucchi 916-746-1609 [email protected]

Meeting Date: 6/5/2024
Item #: 6.33.

RECOMMENDATION TO COUNCIL
ORDINANCE NO. 6820 AMENDING SECTION 14.24.051 OF THE ROSEVILLE MUNICIPAL CODE REGARDING ELECTRICAL ENERGY, for second reading and adoption.

BACKGROUND
When drafting the council communication for ordinance 6820, the current version of Roseville Municipal Code 14.24.051 was redlined, although it was earmarked for revision in Ordinance 6810. On May 1
st
, 2024, City Council adopted Ordinance 6810 which approved the amendments to Section 14.24.051 of the Roseville Municipal Code concerning the effective dates and rates shown in #8 of Section 14.24.051 of the redlined attachment.

Additionally, although the effective date of July 6, 2024 for the new solar 2.0 buyback rate was presented to City Council during the first reading of the ordinance on May 15, 2024, it was inadvertently left out of the Roseville Municipal Code text. Although the effective date would be July 6 regardless, staff would like the date included in the text of the Roseville Municipal Code, #5 in Section 14.24.051.

FISCAL IMPACT
There is no fiscal impact to clarifying edits to the Roseville Municipal Code.

ENVIRONMENTAL REVIEW
Not applicable.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal A - Remain fiscally responsible in a changing world

Respectfully Submitted,
Joanna Cucchi, Electric Utility Financial Administrator Daniel Beans, Electric Utility Director

_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Ordinance 6820 redlined
Ordinance 6820 final
ORDINANCE NO.

ORDINANCE OF THE COUNCIL OF THE CITY OF ROSEVILLE AMENDING SECTION 14.24.051 OF THE ROSEVILLE MUNICIPAL CODE REGARDING

ELECTRICAL ENERGY
THE CITY OF ROSEVILLE ORDAINS:

SECTION 1. The section of the Roseville Municipal Code listed above is hereby amended to read as shown on Attachment “A”.

SECTION 2. This ordinance shall be effective at the expiration of thirty (30) days from the date of adoption.

SECTION 3. The City Clerk is hereby directed to cause this ordinance to be published in full at least once within fourteen (14) days after it is adopted in a newspaper of general circulation in the City, or shall within fourteen (14) days after its adoption cause this ordinance to be posted in full in at least three (3) public places in the City and enter in the Ordinance Book a certificate stating the time and place of said publication by posting.

PASSED AND ADOPTED by the Council of the City of Roseville this day of , 20 , by the following vote on roll call:
6820
AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:

MAYOR

ATTEST:

City Clerk

ATTACHMENT "A"

Title 14. Public Utilities

Chapter 14.24. ELECTRICAL ENERGY

§ 14 .24.051. Customer-owned solar and wind electric generation rates.

A. Net Metering Rate . For solar, wind, and/or solar/wind hybrid electric generation located on the premises of the end user customer-generator, where the customer-generator's own electricity demand is located, interconnected behind the electric meter of record:

1. Net metering is available for solar, wind, and/or solar/wind hybrid electric generation systems, where the generating system meets no more than 100 percent of the customer -generator's annual energy (kWh) usage but is less than or equal to 1,000 kW, as defined in Roseville Electric Rule 21 standards for interconnection.

2. The solar and/or wind electric generating system must operate in parallel with the city's electric utility system, and designed to offset part of but no more than 100 percent of the customer­ generator's meter of record total annual kilowatt-hour electric load.

3. All eligible customer -generators receiving service under net metering rates shall pay all applicable electric monthly basic service charges and other charges identified by state law and/or city ordinance as a mandatory charge according to the terms a nd conditions of the rate which the customer-generator would be assigned to, or be eligible for, if the customer­ generator was not an eligible customer-generator over a normal billing cycle.

4. The net metering solar, wind, and/or solar/wind hybrid electric generation rate on billings shall be as follows:
a. For all net metering customer-generators, any net surplus kilowatt-hours generated during the previous billing cycle shall be carried over to the following billing period as a monetary value, calculated according to the customer -generator's applicable rate based energy charge. Net credit values will be offset by future energy charges or will appear as a net dollar based surplus energy value at the end of the customer-generator's annual period. b. For eligible NM -1 customer-generators who are net generators at the end of their annual period, the net energy surplus compensation rate shall be applied to any net surplus kWh remaining.
c. Eligible customer-generators will receive compensation for the annual surplus as a credit applied toward the next annual period, unl ess the customer elects to receive surplus compensation by check.

5. For all other net metering customer-generators, any monetary credits associated with net annual energy surplus generation at the end of the customer -generator's annual period shall have no value.

6. All net metering customer generators will receive annualized billing, with any monthly credits valued at the applicable tariff energy value.

7. For energy payments due within any monthly billing period where an amount, or net amount, is due for energy consumption:
a. NM-1 Net Metering Rate with Surplus. The customer-generator has the option to pay any amount due for net energy consumption, or defer payment for net energy consumption until the end of the annual period, or cessation of city provided electric service. b. All Other Net Metering Customers . The customer-generator must pay any amount due for net energy consumption upon receipt of the monthly bill.

8. Net Metering Rate with Surplus (NM -1). The NM -1 rate applies to residential customer­ generators and small non-residential customer-generators with a maximum yearly demand (kW) of 1O kW or less. Annual net surplus kWh for these eligible customer-generators shall be valued using the net surplus energy compensation rate . Effective on electric service utility billings generated on or after:
a. January 1, 20 2417, the net surplus energy compensation rate shall be $0 .11760931 per kWh energy charge.
a.b. January 1, 2025, the net surplus energy compensation rate shall be $0.1469 per kWh energy charge.

B. Roseville Solar 2 .0 Rate. For eligible renewable generation such as solar, wind, and/or solar/wind hybrid electric located on the premises of the end user customer-generator where the customer­ generator's own electricity demand is located, interconnected behind the electric meter of record:

1. Roseville solar 2.0 is available where the generating system meets no more than 100 percent of the customer-generator's annual energy (kWh) usage but is less than or equal to 1,000 kW, as defined in Roseville Electric Rule 21 standards for interconnection.

2. The generating system must operate in parallel with the city's electric utility system, and be designed to offset part of, but no more than 100 percent, of the customer -generator's meter of record total annual kilowatt-hour electric load.

3. All eligible customer-generators receiving service under the Roseville solar 2.0 rate shall pay all applicable electric monthly basic service charges and other charges identified by state law and/or city ordinance as a mandatory charg e according to the terms and conditions of the rate which the customer-generator would be assigned to, or be eligible for, if the customer­ generator was not an eligible customer-generator over a normal billing cycle.

4. The Roseville solar 2.0 rate on billings shall be as follows:
a. All energy (kWh) delivered and received after the customer -generator serves its own instantaneous load shall be measured by a multi-register meter. b. The customer-generator will be billed consumption charges for the energy delivered to the customer by Roseville Electric Utility, based on the customer's applicable rate. c. In the event the energy generated by the customer exceeds the energy consumed, Roseville Electric Utility will receive that energy and the customer will receive a credit which shall be compensated at the surplus energy compensation rate.
d. The customer-generator must pay any amount due for energy consumption upon receipt of the monthly bill.

5. Roseville Solar 2.0 Rate. The Roseville solar 2 .0 rate applies to eligible customer-generators.

Monthly customer generated kWh received by the utility shall be compensated at the surplus energy compensation rate:
a. July 6, 2024, tThe surplus energy compensation rate shall be $0.06910.0598 per kWh. This rate is subject to revision by the city council as energy prices and system requirements change.

C. For customer -generators where the generating system is over 1,000 kW, the surplus energy compensation rate will be determined on a case-by-case basis.

D. The customer must comply with conditions and terms set forth by the city and Roseville Electric Rule 21 requirements for safe and efficient interconnection with the city's electrical system.

COUNCIL COMMUNICATION
CC #:
3340
File #:
0709-01
Title:

HOUSING AUTHORITY/CITY COUNCIL - Quarterly Status Update 1st Quarter 2024
Contact:

Danielle O’Connell 916-774-5277 [email protected] Suzi Cook-Turner 916-774-5414 [email protected] Trisha Isom 916-746-1239 [email protected]

Meeting Date: 6/5/2024
Item #: 6.34.

RECOMMENDATION TO COUNCIL
The City Council, acting as the Roseville Housing Authority Board, is not required to take any action on this item. This quarterly report is for informational purposes only.

BACKGROUND
Pursuant to the bylaws of the Roseville Housing Authority (RHA), the City Council, acting as the governing board for the Housing Authority, holds its quarterly meeting the first Wednesday of March, June, September, and December, or as soon as possible thereafter. Staff has prepared the following status report regarding lease-up activity for the Housing Choice Voucher (HCV) Program. The HCV Program provides income-qualified households in Roseville and Rocklin with rental assistance using funding from the US Department of Housing and Urban Development (HUD). This assistance is utilized at rental units that meet program specific housing standards, are owned by a willing property owner, and are within Roseville or Rocklin city limits. This rental assistance ensures that the household can afford to live in safe and decent housing. During the first quarter of 2024 there were 671 vouchers utilized in Roseville, 138 vouchers being utilized in Rocklin, and 7 in other jurisdictions (approved transfers out of the area) for a total of 816 families receiving rental assistance through RHA.

RHA continues to operate the very popular Landlord Incentive Program, implemented in April 2023. With limited rental inventory, this successful program has allowed RHA to house a record number of families and attract new owners to the program. RHA’s HCV leasing success rate of 96% has impressed HUD’s administration. Staff persists in looking for other ways to attract new and retain current property owners. A total of 19 new owners have signed up to participate in the HCV program and total of $31,000 has been paid out in incentives to landlords.

RHA is authorized to provide 823 households with HCV rental assistance. RHA also has several special voucher programs including 41 Emergency Housing Vouchers (EHV) providing rental assistance to individuals and families who are experiencing homelessness or at risk of experiencing homelessness; 75 vouchers allocated specifically for families on the waiting list with a head-of-household or partner that are non-elderly and disabled (NED vouchers) and 43 Mainstream vouchers assist households who have a non-elderly head of household or partner with a disability and are transitioning out of institutional or other segregated settings, are currently homeless, or at risk of becoming homeless.

In its efforts to expand affordable housing opportunities, Roseville Housing Authority continues to apply for additional vouchers and administrative fees when award or NOFA applications are made available from HUD to Public Housing Authorities (PHAs). RHA applied for additional Veterans Affairs Supportive Housing (VASH) vouchers and was awarded 15 additional vouchers in February 2024 which brings our total to 100 vouchers for veteran households that come via referral from the Veterans Affairs (VA) Department. Veterans receive case management from HUD VASH caseworkers which assist them with managing day to day life challenges, paperwork, and housing search. Close collaboration and communication with the VA and RHA has reduced the time in determining eligibility which allows the veteran to receive a voucher quickly and begin the process of finding a suitable unit.

In January RHA staff attended a Mandated Reporter Training through Kids First. Mandated Reporter Training helped RHA staff understand the child abuse reporting laws, their reporting responsibilities, and how to identify and report neglect, abuse, and maltreatment. Mandated Reporter Trainings provide mandated reporters with the knowledge, skills, and confidence needed for their mandated reporting responsibilities.

On March 11, 2024, RHA opened a Project-Based vouchers waiting list to accept preapplications.

The list closed on the March 22 and the RHA received over 3,300 applications. The list will be used to fill 16 brand new project-based units and 8 renovated units that will be available for lease later this year. An additional 30 units are scheduled to come available in 2025. The list will also be used to fill PBV vacancies when a tenant vacates a PBV unit.

RHA is collaborating with Placer County Housing Authority (PCHA) in running our FSS programs and our shared Program Coordinating Committee (PCC). It is made up of Placer County agencies and businesses to assist the housing authorities in securing commitments of public and private resources for operation of the FSS program.

The first quarter meeting of the PCC was
exciting and productive with PCHA, Placer County, and RHA establishing an inter-agency referral process.

Each housing authority is required to be at least 95% leased-up for its voucher allocation or utilizing at least 95% of its annual budget authority to remain in compliance with HUD’s requirements. The lease-up rate for a calendar year cannot exceed 100% of its allocation of vouchers (per voucher type), and/or 100% expenditure of its annual budget allocation for the program. Agencies leasing up or expending 98% or more of its allocated vouchers and/or budget can reach high-performing status. RHA continues to meet HUD program requirements for high- performing status through 100% expenditure of its annual budget allocation. The attached table provides a monthly summary of RHA’s voucher programs for the first quarter of 2024.

FISCAL IMPACT
This Housing Authority Quarterly Status Report does not create any additional cost to the City’s General Fund.

ENVIRONMENTAL REVIEW
The California Environmental Quality Act (CEQA) does not apply to activities that will not result in a direct or reasonably foreseeable indirect physical change in the environment or is otherwise not considered a project as defined by CEQA Statute §21065 and CEQA State Guidelines §15060(c)(3) and §15378. The Roseville Housing Authority Quarterly Report meets the above criteria and is not subject to CEQA. No additional environmental review is required.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal C - Maintain a safe and healthy community
Goal D - Enhance economic vitality

Respectfully Submitted,
Danielle O’Connell Housing Analyst
Melissa Anguiano, Economic Development Director

_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Vouchers 1st Quarter
Newsletter
Roseville Housing Authority Voucher Lease‐Up Calendar Year 2024

2024

Actual
Lease‐up of
HCV

10‐HUD
Regular
(570)
Actual
Lease‐Up
of Non‐
Elderly
Disabled
5‐HUD
Non‐
Elderly
Disabled
(75)

Actual
Lease‐up
of VASH

11‐HUD
VASH (85)

Actual
Lease‐ up of
Mainstream

12‐HUD
Mainstream
(43)

Actual
Lease‐up
of EHV

21‐HUD
EHV (50)
Jan‐24 574 570 75 75 57 85 38 43 43 44
Feb‐24 575 570 75 75 58 85 40 43 44 44
Mar‐24 573 570 76 75 56 100 41 43 41 41
YTD Total 1722 1710 226 225 171 270 119 129 128 129
% Leased 100.7% 100.4% 63.3% 92.2% 99.2%

April is Fair Housing Month
National Fair Housing Month in April increases efforts to end housing discrimination and raises awareness of fair housing rights. Learn more about how to recognize housing discrimination. Join the Roseville Housing Division and Project Sentinel from 1 p.m. - 2:30 p.m., Wednesday, April 24 at the Roseville City Council Chambers, 311 Vernon Street.

Topics covered include federal and state legal protections, disability rights and the reasonable accommodation process, emotional support animals, and renting as a voucher-holder. This information is important for both tenants and landlords.

For more information about Project Sentinel, visit 111.housing.org April 2024
Roseville Housing
Authority Newsletter
Roseville Housing Authority
316 Vernon St., Ste 150
Roseville, CA 95678
916 774-5270
916 746-1295 (fax)
roseville.ca.us/HCV
Schedule Free
Tax Help Today!
Call 2-1-1 to make an
appointment or visit
YourFreeTaxPrep.org
to file online for free.

Roseville Housing Authority welcomes new team member!
The Roseville Housing Authority is growing and we want to welcome April to the team! April joins the RHA team as a Housing Technician II and is already managing program waiting lists. Welcome April!
Learning Independence for Future Employment (LIFE) Program Unlock Your Potential with the LIFE Program at Sierra College! Individuals with intellectual and developmental disabilities (ID/DD) who are regional center consumers, and between 18 – 26 years of age are eligible to apply.

What you can expect from the program: Collegiate experiences, Inclusive peer connections, Career exploration, Life & communication skills development, and Health & safety workshops.

Visit https://sierracollege.edu/academics/life-program/ or email [email protected] for more information.

Upcoming HCV program changes
The Housing Opportunity Through Modernization Act (HOTMA) was enacted in 2016 and will go into effect January 1, 2025. HOTMA affects public housing and Section 8 rental assistance programs and is intended to streamline the process and reduce burden on housing providers. The changes under HOTMA touch upon multiple areas, including standards for income determination, resident self-certification, and interim reexaminations.

Additional HOTMA resources for Public Housing Agencies (PHAs) administering public housing and Section 8 rental assistance programs can be found on HUD.gov.

The National Standards for the Physical Inspection of Real Estate (NSPIRE) is a new physical inspection protocol that has become the primary method for HUD physical inspections. HUD’s stated purpose in developing and implementing a new inspection protocol is to move its inspections to a system that prioritizes health, safety, and functional defects over appearance to produce inspection results that better reflect the true physical condition of a property. The inspection standards for NSPIRE are outlined in a notice published by HUD on June 22, 2023.

Roseville Housing Authority
Monday
9 a.m. – 3 p.m.

Tuesday – Thursday
9 a.m. – 5 p.m.

Friday
8 a.m. – noon
Closed every day from
noon – 1 p.m. for lunch
Visit HUD.gov for HCV Landlord
resources, events and webinars,
and sign-up to receive information
for Landlords and upcoming
program changes.

Smoke Detector and CO Alarms: There is a new federal mandate on smoke detectors, to be implemented on December 29, 2024. All smoke detectors will be required to be hardwired OR of the sealed 10-year battery type.

Remember that carbon monoxide, CO, alarms are also required for many properties. This would be an ideal time to go ahead and update to the combination smoke detector/CO alarms. This addresses both safety concerns and provides your residents with peace of mind.
2024 Healthy Homes Calendar Coloring Contest
Calling young artists from Kindergarten through 6th! HUD’s Office of Lead Hazard Control and Healthy Homes (OLHCHH) is looking for artists around the country to participate in the 2024 Healthy Homes Calendar Contest. The 12 month calendar theme is keeping your home healthy and safe! We invite children to submit a drawing or picture following “8 Principles of a Healthy Home”.

Entry deadline is August 15, 2024. For more information on how to submit your art entry, visit the 2024-Healthy-Homes-Calendar-Contest-Packet.pdf (icastusa.org).

Interested in learning more
about budgeting, investments
or financial wellness?
Scan the QR code or visit
safecu.org/community/events
for future webinars.

COUNCIL COMMUNICATION
CC #:
3368
File #:
0202-01
Title:

Annual Comprehensive Financial Report and Other Audit Reports for the Fiscal Year Ended June 30, 2023
Contact:

Teri Quinlan 916-774-5316 [email protected]

Meeting Date: 6/5/2024
Item #: 6.35.

RECOMMENDATION TO COUNCIL
Staff recommends that the City Council receive five financial reports, along with four required auditor communication letters, for the fiscal year ended June 30, 2023. This item requires no Council action and is for information purposes only.

BACKGROUND
The following informational reports are included with this communication:

City of Roseville Annual Comprehensive Financial Report (ACFR) City of Roseville Single Audit Report
City of Roseville School-Age Child Care Report
City of Roseville Independent Accountant's Report on Applying Agreed-Upon Procedures Related to the Article XIII-B Appropriations Limit for the year ended June 30, 2024 City of Roseville Auditor Communication Letter
City of Roseville Auditor Report on Internal Controls over Financial Reporting and Compliance and Other Matters
City of Roseville Electric Fund Financial Statements
City of Roseville Electric Fund Auditor Communication Letter City of Roseville Electric Fund Auditor Report on Internal Controls over Financial Reporting and Compliance and Other Matters

The City Charter requires that the City Council engage an independent certified public accounting firm to conduct an annual financial audit of the City. Lance, Soll, and Lunghard, LLP (LSL), a certified public accounting firm, conducted the audits of the City’s financial statements for the fiscal year ended June 30, 2023. The City received an unmodified (clean) opinion on the ACFR.

The ACFR conforms to generally accepted accounting principles and the latest applicable Governmental Accounting Standards Board (GASB) Statements. This report continues to reflect the financial stability and proper accounting practices of the City. In addition, the 2022 ACFR received the Government Finance Officers Association's (GFOA) Certificate of Achievement for Excellence in Financial Reporting. GFOA awarded this certificate to the City for the 18th consecutive year and it is included in the 2023 ACFR.

A Single Audit is required for any non-federal entity that expends $750,000 or more of federal awards during the non-federal entity’s fiscal year. The Single Audit Report for the City includes the Schedule of Expenditures of Federal Awards, which reports that the City expended $33,492,625.

The Single Audit report reflects resolution of the one prior year audit finding and includes one new finding related to the City not preparing timely bank reconciliations. Staff agrees with the finding and by filling staff vacancies is working toward timely bank reconciliations.

Separately issued financial statements are required to be completed for the Roseville Electric Fund and School-Age Child Care Fund (also referred to as the Youth Development Fund) that detail activity in the current fiscal year and year-end balances. The School-Age Child Care Fund report includes one compliance finding to which staff has developed a correction action plan to address.

The California State Constitution Article XIII-B Appropriations Limit places limits on the growth of expenditures for publicly funded programs. The Independent Accountant’s Report on Applying Agreed-Upon Procedures Related to the Article XIII-B Appropriations Limit for the year ended June 30, 2024 was performed to assist the City in meeting the requirements of Section 1.5 of the Article XIII-B which requires the annual calculation of the appropriations limit to be reviewed as part of an annual financial audit. There were no findings included in this year's report.

The auditor’s letters to the City Council are additional communication required by audit standards which conveys that there were no difficulties encountered performing the audit or disagreements between the auditors and City staff. The letters also include information about significant estimates and footnote disclosures included in the financial statements.

The Independent Auditor's Report on Internal Control over Financial Reporting and Compliance and Other Matters is required communication that includes one finding regarding the City not preparing timely bank reconciliations. Staff agrees with the finding and by filling staff vacancies is working toward timely bank reconciliations.

FISCAL IMPACT
There is no fiscal impact as a result of these informational reports.

ENVIRONMENTAL REVIEW
The California Environmental Quality Act (CEQA) does not apply to activities that will not result in a direct or reasonably foreseeable indirect physical change in the environment, or is otherwise not considered a project as defined by CEQA Statute §21065 and CEQA State Guidelines §15060(c)(3) and §15378. The financial reports meet the above criteria and are not subject to CEQA. No additional environmental review is required.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal A - Remain fiscally responsible in a changing world

Respectfully Submitted,
Teri Quinlan, Accounting Manager
Dennis Kauffman, Assistant City Manager/Chief Financial Officer

_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
FY23 City of Roseville ACFR
FY23 City of Roseville Single Audit
FY23 Roseville School-Age Child Care Report
FY2023-2024 Roseville Appropriations Limit AUP
FY23 Roseville Auditor Communication Letter
FY23 Roseville Report on Internal Controls
FY23 Electric Fund Audit Report
FY23 Electric Fund Auditor Communication Letter
FY23 Electric Fund Auditor Report on Internal Controls
"OOVBM
$PNQSFIFOTJWF
'JOBODJBM
3FQPSU

Fiscal Y ear &OEFE
+VOF


202

&,7<2)526(9,//(&$/,)251,$

$QQXDO&RPSUHKHQVLYH)LQDQFLDO5HSRUW

)RUWKH<HDU(QGHG-XQH





























35(3$5('%<
),1$1&('(3$570(17

THIS PAGE INTENTIONALLY LEFT BLANK
&,7<2)526(9,//(&$/,)251,$

$QQXDO&RPSUHKHQVLYH)LQDQFLDO5HSRUW

)RUWKH<HDU(QGHG-XQH

7DEOHRI&RQWHQWV

 3DJH
 1XPEHU
,1752'8&725<6(&7,21
/HWWHURI7UDQVPLWWDOL 2UJDQL]DWLRQDO&KDUWYLL (OHFWHG2IILFLDOVYLLL *)2$&HUWLILFDWHL[ ),1$1&,$/6(&7,21
,1'(3(1'(17$8',7256¶5(3257 0$1$*(0(17¶6',6&866,21$1'$1$/<6,6 %$6,&),1$1&,$/67$7(0(176
*RYHUQPHQW:LGH)LQDQFLDO6WDWHPHQWV
6WDWHPHQWRI1HW3RVLWLRQ 6WDWHPHQWRI$FWLYLWLHV 
)XQG)LQDQFLDO6WDWHPHQWV
*RYHUQPHQWDO)XQG)LQDQFLDO6WDWHPHQWV

%DODQFH6KHHW±*RYHUQPHQWDO)XQGV 5HFRQFLOLDWLRQRIWKH%DODQFH6KHHWRI*RYHUQPHQWDO)XQGV WRWKH6WDWHPHQWRI1HW3RVLWLRQ 6WDWHPHQWRI5HYHQXHV([SHQGLWXUHVDQG&KDQJHVLQ)XQG %DODQFHV±*RYHUQPHQWDO)XQGV 5HFRQFLOLDWLRQRIWKH6WDWHPHQWRI5HYHQXHV([SHQGLWXUHVDQG &KDQJHVLQ)XQG%DODQFHVRI*RYHUQPHQWDO)XQGVWRWKH
6WDWHPHQWRI$FWLYLWLHV 
3URSULHWDU\)XQG)LQDQFLDO6WDWHPHQWV
6WDWHPHQWRI1HW3RVLWLRQ±3URSULHWDU\)XQGV 6WDWHPHQWRI5HYHQXHV([SHQVHVDQG&KDQJHVLQ)XQG1HW 3RVLWLRQ±3URSULHWDU\)XQGV 6WDWHPHQWRI&DVK)ORZV±3URSULHWDU\)XQGV 
)LGXFLDU\)XQG)LQDQFLDO6WDWHPHQWV
6WDWHPHQWRI)LGXFLDU\1HW3RVLWLRQ±)LGXFLDU\)XQGV 6WDWHPHQWRI&KDQJHVLQ)LGXFLDU\1HW3RVLWLRQ 
1RWHVWR)LQDQFLDO6WDWHPHQWV 

&,7<2)526(9,//(&$/,)251,$

$QQXDO&RPSUHKHQVLYH)LQDQFLDO5HSRUW

)RUWKH<HDU(QGHG-XQH

7DEOHRI&RQWHQWV

 3DJH
 1XPEHU
5(48,5('6833/(0(17$/,1)250$7,21

6FKHGXOHRI5HYHQXHV([SHQGLWXUHVDQG&KDQJHVLQ)XQG%DODQFHV%XGJHW DQG$FWXDO±*HQHUDO)XQG 6FKHGXOHRI&KDQJHVLQWKH&LW\¶V1HW3HQVLRQ/LDELOLW\DQG5HODWHG5DWLRV 6FKHGXOHRI&RQWULEXWLRQV3HQVLRQV 6FKHGXOHRI&KDQJHVLQWKH&LW\¶V1HW23(%/LDELOLW\DQG5HODWHG5DWLRV 6FKHGXOHRI&RQWULEXWLRQV±23(% 0RGLILHG$SSURDFKWR5HSRUWLQJ6WUHHW3DYHPHQW&RVWV 1RWHVWR5HTXLUHG6XSSOHPHQWDU\,QIRUPDWLRQ 
6833/(0(17$/,1)250$7,21

1RQ0DMRU*RYHUQPHQWDO)XQGV
&RPELQLQJ%DODQFH6KHHW &RPELQLQJ6WDWHPHQWRI5HYHQXHV([SHQGLWXUHVDQG
&KDQJHVLQ)XQG%DODQFHV 6FKHGXOHRI5HYHQXHV([SHQGLWXUHVDQG&KDQJHVLQ)XQG%DODQFHV±%XGJHWDQG$FWXDO 
1RQ0DMRU(QWHUSULVH)XQGV
&RPELQLQJ6WDWHPHQWRI1HW3RVLWLRQ &RPELQLQJ6WDWHPHQWRI5HYHQXH([SHQVHVDQG&KDQJHVLQ)XQG1HW3RVLWLRQ &RPELQLQJ6WDWHPHQWRI&DVK)ORZV 
,QWHUQDO6HUYLFH)XQGV
&RPELQLQJ6WDWHPHQWRI1HW3RVLWLRQ &RPELQLQJ6WDWHPHQWVRI5HYHQXHV([SHQVHVDQG&KDQJHVLQ)XQG1HW3RVLWLRQ &RPELQLQJ6WDWHPHQWRI&DVK)ORZV 
3ULYDWH3XUSRVH7UXVW)XQGV
&RPELQLQJ6WDWHPHQWRI)LGXFLDU\1HW3RVLWLRQ &RPELQLQJ6WDWHPHQWRI&KDQJHVLQ)LGXFLDU\1HW3RVLWLRQ 
&XVWRGLDO)XQGV
 &RPELQLQJ6WDWHPHQWRI)LGXFLDU\1HW3RVLWLRQ  &RPELQLQJ6WDWHPHQWRI&KDQJHVLQ)LGXFLDU\1HW3RVLWLRQ 
&,7<2)526(9,//(&$/,)251,$

$QQXDO&RPSUHKHQVLYH)LQDQFLDO5HSRUW

)RUWKH<HDU(QGHG-XQH

7DEOHRI&RQWHQWV

 3DJH
 1XPEHU
67$7,67,&$/6(&7,21

1HW3RVLWLRQE\&RPSRQHQW 
&KDQJHVLQ1HW3RVLWLRQ 
)XQG%DODQFHVRI*RYHUQPHQWDO)XQGV 
&KDQJHVLQ)XQG%DODQFHVRI*RYHUQPHQWDO)XQGV 
6DOHV7D[5HYHQXH 
$VVHVVPHQW5ROO9DOXHV 
3URSHUW\7D[5DWHV±'LUHFWDQG2YHUODSSLQJ*RYHUQPHQWV 
3ULQFLSDO3URSHUW\7D[3D\HUV


3URSHUW\7D[/HYLHVDQG&ROOHFWLRQV (OHFWULF&XVWRPHUVDQG5HYHQXHV 5HVLGHQWLDO(QHUJ\3ULFHV %XVLQHVV(QHUJ\3ULFHV 5DWLRRI2XWVWDQGLQJ'HEWE\7\SH 5HYHQXH%RQG&RYHUDJH5HGHYHORSPHQW3URMHFW7D[$OORFDWLRQ%RQGV 5HYHQXH%RQG&RYHUDJH5HGHYHORSPHQW3URMHFW7D[$OORFDWLRQ%RQGV &RPSXWDWLRQRI'LUHFWDQG2YHUODSSLQJ'HEW &RPSXWDWLRQRI/HJDO%RQGHG'HEW0DUJLQ 'HPRJUDSKLFDQG(FRQRPLF6WDWLVWLFV 
3ULQFLSDO(PSOR\HUV )XOO7LPH(TXLYDOHQW&LW\(PSOR\HHVE\)XQFWLRQ 2SHUDWLQJ,QGLFDWRUVE\)XQFWLRQ3URJUDP &DSLWDO$VVHW6WDWLVWLFVE\)XQFWLRQ3URJUDP

THIS PAGE INTENTIONALLY LEFT BLANK




0DUFK

+RQRUDEOH0D\RUDQG0HPEHUVRIWKH&LW\&RXQFLO


:HDUHSOHDVHGWRSUHVHQWWKH$QQXDO&RPSUHKHQVLYH)LQDQFLDO5HSRUW $&)5
RIWKH&LW\RI5RVHYLOOH
&LW\

IRUWKHILVFDO\HDUHQGHG-XQH$UWLFOH9,,RIWKH&LW\&KDUWHUDQGIHGHUDODQGVWDWHODZUHTXLUHVWKDW WKH &LW\ LVVXH DQ DQQXDO UHSRUW RQ LWV ILQDQFLDO SRVLWLRQ DQG DFWLYLW\ DQG WKDW WKH UHSRUW EH DXGLWHG E\ DQ LQGHSHQGHQW ILUP RI FHUWLILHG SXEOLF DFFRXQWDQWV 7KH IRUPDW DQG FRQWHQW RI WKLV $&)5 FRPSOLHV ZLWK WKH SULQFLSOHV DQG VWDQGDUGV RI DFFRXQWLQJ DQG ILQDQFLDO UHSRUWLQJDGRSWHG E\ WKH *RYHUQPHQWDO$FFRXQWLQJ 6WDQGDUGV%RDUG
*$6%
DQGFRQWDLQVDOOLQIRUPDWLRQQHHGHGIRUUHDGHUVWRJDLQDUHDVRQDEOHXQGHUVWDQGLQJRI WKH&LW\¶VILQDQFLDODFWLYLWLHV

0DQDJHPHQWWDNHVVROHUHVSRQVLELOLW\IRUWKHFRPSOHWHQHVVDQGUHOLDELOLW\RIWKHLQIRUPDWLRQFRQWDLQHGLQWKLV UHSRUWEDVHGXSRQDFRPSUHKHQVLYHIUDPHZRUNRILQWHUQDOFRQWUROWKDWLWKDVHVWDEOLVKHGIRUWKLVSXUSRVH7KH REMHFWLYH RI LQWHUQDO FRQWUROV LV WR SURYLGH UHDVRQDEOH UDWKHU WKDQ DEVROXWH DVVXUDQFH WKDW WKH ILQDQFLDO VWDWHPHQWVDUHIUHHRIDQ\PDWHULDOPLVVWDWHPHQWV

7KH &LW\¶V ILQDQFLDO VWDWHPHQWV KDYH EHHQ DXGLWHG E\ /DQFH 6RO O  /XQJKDUG //3 &HUWLILHG 3XEOLF $FFRXQWDQWV7KHJRDORIWKHDXGLWLVWRREWDLQUHDVRQDEOHDVVX UDQFHWKDWWKHILQDQFLDOVWDWHPHQWVDUHIUHHRI PDWHULDOPLVVWDWHPHQWVDQGDUHIDLUO\SUHVHQWHGLQFRQIRUPLW\Z LWKJHQHUDOO\DFFHSWHGDFFRXQWLQJSULQFLSOHV

*$$3
 7KH &LW\¶V DXGLWRUV KDYH LVVXHG DQ XQPRGLILHG RSLQLRQRQWKH &LW\¶V ILQDQFLDO VWDWHPHQWVIRUWKHILVFDO \HDUHQGHG-XQH7KHLQGHSHQGHQWDXGLWRUV¶UHSRUWLVSUHVHQWHGDVWKHILUVWFRPSRQHQWRIWKHILQDQFLDO VHFWLRQRIWKLVUHSRUW

0DQDJHPHQW¶V GLVFXVVLRQDQG DQDO\VLV
0' $
 LPPHGLDWHO\ IROORZLQJWKHLQGHSHQGHQW DXGLWRUV¶ UHSRUW SURYLGHV D QDUUDWLYH LQWURGXFWLRQ RYHUYLHZ DQG DQDO\VLV RI WKH EDVLF ILQDQFLDO VWDWHPHQWV 0' $ FRPSOHPHQWVWKLVOHWWHURIWUDQVPLWWDODQGVKRXOGEHUHDGLQFRQMXQFWLRQZLWKLW 
7+(5(3257,1*(17,7<$1',766(59,&(6

5RVHYLOOHLVDFKDUWHUFLW\LQWKH6WDWHRI&DOLIRUQLD7KH&LW\ZDVLQFRUSRUDWHGRQ$SULO 
DQGRSHUDWHV
XQGHUD&RXQFLO0DQDJHUIRUPRIJRYHUQPHQW 7KH&LW\&RXQFLOWKH&LW\ VSROLWLFDODQGOHJLVODWLYHERG\LV
HPSRZHUHGE\WKH&LW\¶VFKDUWHUWRIRUPXODWHFLW\ZLGHSROLF\L QFOXGLQJDILVFDOSURJUDP&LW\VHUYLFHVDQG DSSRLQWPHQWRIWKH&LW\0DQDJHUDQG&LW\$WWRUQH\7KH&LW\UHF HQWO\FRPSOHWHGLWVWUDQVLWLRQIURPDWODUJH &LW\&RXQFLOHOHFWLRQVWRGLVWULFWHOHFWLRQV7KHUHDUHILYH&LW\&RXQFLOPHPEHUVZKRDUHHOHFWHGE\GLVWULFW IRUVWDJJHUHGIRXU\HDUWHUPVDQGWKH0D\RUDQG9LFH0D\RUDUH GHWHUPLQHGE\URWDWLRQLQVHTXHQWLDORUGHU RIWKHILYHGLVWULFWV

i

5HVLGHQWV RI WKH &LW\ PD\ DVVLVW WKH &LW\ &RXQFLO LQ IRUPXODWLQJ JRYHUQPHQW SROLF\ E\ VHUYLQJ RQ D &LW\ FRPPLVVLRQFRPPLWWHHRUERDUG7KHIROORZLQJFRPPLVVLRQVFRPPLWWHHVDQGERDUGVDFWLQDQDGYLVRU\ FDSDFLW\WRWKH&LW\&RXQFLO


x %RDUGRI$SSHDOV
x 'HVLJQ&RPPLWWHH
x (FRQRPLF'HYHORSPHQW$GYLVRU\&RPPLWWHH
x *UDQWV$GYLVRU\&RPPLVVLRQ
x /LEUDU\%RDUG
x /RFDO6DOHV7D[&LWL]HQV¶2YHUVLJKW&RPPLWWHH
x 3DUNV 5HFUHDWLRQ&RPPLVVLRQ
x 3HUVRQQHO%RDUG
x 3ODQQLQJ&RPPLVVLRQ
x 3XEOLF8WLOLWLHV&RPPLVVLRQ
x 6HQLRU&RPPLVVLRQ
x 7UDQVSRUWDWLRQ&RPPLVVLRQ
x <RXWK6SRUWV&RDOLWLRQ

5RVHYLOOHLVDIXOOVHUYLFH&LW\SURYLGLQJDIXOOUDQJHRIPXQLFLSDOXWLOLWLHVDQGVHUYLFHV7KHVHVHUYLFHVLQFOXGH SROLFH
ILUH
SDUNVUHFUHDWLRQDQGOLEUDULHV
HFRQRPLFGHYHORSPHQWDQGKRXVLQJ
SODQQLQJ
EXLOGLQJDQGSXEOLF
IDFLOLW\ LQVSHFWLRQ
 HQJLQHHULQJ
 VWUHHWV
 HOHFWULF
 ZDWHU ZDVWHZDWHU DQG VROLG ZDVWH XWLOLWLHV
 DQG JHQHUDO
DGPLQLVWUDWLYHVHUYLFHV

7KH$&)5SUHVHQWVWKHILQDQFLDOVWDWXVRIWKH&LW\DQGLWVILYHFRPSRQHQWXQLWV 

x 5RVHYLOOH)LQDQFH$XWKRULW\
)LQDQFH$XWKRULW\

x 5RVHYLOOH1DWXUDO*DV)LQDQFLQJ$XWKRULW\
51*)$

x &LW\RI5RVHYLOOH+RXVLQJ$XWKRULW\
+RXVLQJ$XWKRULW\

x 6XFFHVVRU$JHQF\WRWKH&LW\RI5RVHYLOOH5HGHYHORSPHQW$JHQF\ 6XFFHVVRU$JHQF\

x &LW\RI5RVHYLOOH2WKHU3RVW(PSOR\PHQW%HQHILWV7UXVW 23(%7UXVW


&RPSRQHQWXQLWVDUHVHSDUDWHOHJDOHQWLWLHVLQFOXGHGLQWKLVUH SRUWGXHWRVLJQLILFDQWRSHUDWLRQDORUILQDQFLDO UHODWLRQVKLSVZLWKWKH&LW\7KH)LQDQFH$XWKRULW\51*)$+RXVLQJ$XWKRULW\DQG23(%7UXVWDUHVHSDUDWH OHJDOHQWLWLHVIURPWKH&LW\EXWKDYHWKHVDPHJRYHUQLQJERDUG7KH6XFFHVVRU$JHQF\KDVDJRYHUQLQJERDUG GHWHUPLQHGE\6WDWHODZWKDWGRHVQRWUHSRUWWRWKH&LW\&RXQFLO51*)$DQGWKH23(%7UXVWLVVXHVHSDUDWH FRPSRQHQWXQLWILQDQFLDOVWDWHPHQWV6HSDUDWHILQDQFLDOVWDWHPH QWVDUHQRWLVVXHGIRUWKH)LQDQFH$XWKRULW\ WKH+RXVLQJ$XWKRULW\RUWKH6XFFHVVRU$JHQF\

/2&$/(&2120<

7KH&LW\RI5RVHYLOOHLVWKHODUJHVWFLW\LQ3ODFHU&RXQW\ZLWKDSRSXODWLRQRI DVRI-DQXDU\
DQ LQFUHDVH RI 
 UHVLGHQWV IURP WKH SUHYLRXV \HDU 7KHUH LV RYHU  EXVLQHVV ZLWKLQ WKH &LW\ WKDW VXVWDLQHGMREVWKLVSDVW\HDU7KHRYHUDOOORFDOXQHPSOR \PHQWUDWHIRUWKH&LW\RI5RVHYLOOHLVDW 
DQGWKHPHGLDQKRXVHKROGLQFRPHLV
7KHODUJHVWLQGXVWU\VHFWRULVKHDOWKFDUHDQGVRFLDODVVLVWDQFH DW DSSUR[LPDWHO\  SHUFHQW 5HWDLO EXVLQHVVHV DUH VHFRQG DW DSSUR[LPDWHO\  SHUFHQW 5RXQGLQJ RXW WKH UHPDLQLQJWRSEXVLQHVVVHFWRUVDUHIRRGVHUYLFHJRYHUQPHQWDQGFRQVWUXFWLRQ 
7KHKRXVLQJPDUNHWLQ5RVHYLOOHLVYHU\KHDOWK\ZLWKFRQVLVWHQ WJURZWK\HDURYHU\HDU&XUUHQWO\WKHUHDUH FRPSOHWHGKRXVLQJXQLWVDQGWKHPHGLDQKRPHYDOXHLVDGHFUHDVHRIFRPSDUHGWRWKH SULRU\HDU
ii

%8'*(7,1,7,$7,9(6

7KH  EXGJHW FRPSOHWHV IXQGLQJ IRU WKH SODQQHG ILHOG 5RVHYLOOH 6RFFHU &RPSOH[ WR VWUHQJWKHQ WKH UHJLRQ¶V SRVLWLRQ LQ VSRUWV WRXULVP 7KH FRPSOH[ ZLOO IRFXV RQ D EOHQG RI ORFDO UHJLRQDO DQG QDWLRQDO WRXUQDPHQWVWRGULYHYLVLWRUVWRWKHFRPPXQLW\ZKLOHDOVRSOD\ LQJDYLWDOUROHLQVHUYLQJORFDOVSRUWVFOXEV¶ DQGRUJDQL]DWLRQV¶QHHGIRUVSDFHGHVLJQHGDQGGHGLFDWHGIRUWK LVW\SHRIXVH7KHJURXQGEUHDNLQJIRUWKH 5RVHYLOOH6RFFHU&RPSOH[WRRNSODFHLQ-XQH7KHFRPSOH[ZLOOLQFOXGHOLJKWHGDUWLILFLDOWXUIILHOGV 
WZRSOD]DDUHDVZLWKUHVWURRPVSLFQLFDUHDVDQGFRQFHVVLRQV DQGDXQLYHUVDOO\DFFHVVLEOHSOD\JURXQG7KH
ILHOGVZLOOEHDYDLODEOHE\UHVHUYDWLRQRQO\DQGZLOOKRVWORFDOWHDPSUDFWLFHVDQGJDPHVDQGUHJLRQDOQDWLRQDO WRXUQDPHQWV7KHXQLYHUVDOO\DFFHVVLEOHSOD\JURXQGZLOOEHRSHQ WRWKHSXEOLFDQGWKHFRPSOH[LVH[SHFWHG WRRSHQLQ6SULQJ7KHQHZPLOOLRQ5RVHYLOOH6RFFHU&RPSOH[LVH[SHFWHGWRGUDZVLJQLILFDQWVSRUWV WRXULVP 7KH FRPSOH[ ZLOO DGG WR 5RVHYLOOH¶V H[LVWLQJ VSRUWV WRXULVP DPHQLWLHV LQFOXGLQJ PDMRU DTXDWLFV VRIWEDOOYROOH\EDOODQGEDVNHWEDOOFRPSOH[HV<RXWKVSRUWVKDYHSURYHQWREHDUHFHVVLRQSURRILQGXVWU\RYHU WLPHDVIDPLOLHVWDNHDGYDQWDJHRIRSSRUWXQLWLHVWKHLUFKLOGUHQKDYHDWWKRVHDJHV 
7KHILVFDO\HDUEXGJHWDOVRLQFOXGHVPHDVXUHVWRUHGXFHIX WXUHSHQVLRQFRVWVDQGLQFUHDVHWKHIXQGHG VWDWXVRILWVSHQVLRQSODQV7KLVLQFOXGHVXVLQJPLOOLRQLQRQHWLPH*HQHUDO)XQGUHVRXUFHVWRSDUWLFLSDWH LQ WKH &DO3(56 $GGLWLRQDO 'LVFUHWLRQDU\ 3D\PHQWV
$'3
 2SWLRQ7KH EXGJHW DOVR LQFOXGHV D WUDQVIHU RI  PLOOLRQ IURP WKH *HQHUDO )XQG WR WKH 3HQVLRQ 5HVHUYH 7UXVW )XQG WR DFW DV D UHVHUYH DJDLQVW IXWXUH SHQVLRQ FRVW LQFUHDVHV 7KHVH PHDVXUHV DUH DLPHG DW PDLQWDLQLQJ VHUYLFH OHYHOV GXULQJ IXWXUH HFRQRPLF GRZQWXUQV ,QFOXGLQJ WKH ILVFDO \HDU  WUDQVIHU WKH WRWDO DPRXQW RI IXQGV WUDQVIHUUHG WR WKH WUXVW LV PLOOLRQ

/21*7(50),1$1&,$/3/$11,1*

7KH&LW\KDVFRQVLVWHQWO\SODQQHGLWVEXGJHWVZLWKDIRFXVRQO RQJWHUPVXVWDLQDELOLW\7KLVLVDFFRPSOLVKHG WKURXJK ILQDQFLDO SROLFLHV DQG WKH HVWDEOLVKPHQW RI VHYHUDO IXQ GV WKDW VHUYH WR GLUHFW &LW\ UHYHQXHV WR ORQJWHUPILQDQFLDOQHHGV7KLVHQVXUHVWKDWIXQGLQJLVDYDLODEOHIRUQHHGVDVWKH\DULVH7KHVHIXQGVLQFOXGH 

2SHUDWLQJ5HVHUYHV

7KH&LW\PDLQWDLQVDQHPHUJHQF\UHVHUYHLQLWV*HQHUDO)XQGRISHUFHQWRIRSHUDWLQJ H[SHQGLWXUHV7KH&LW\DOVRPDL QWDLQVDVWDELOL]DWLRQUHVHUYHLQLWV*HQHUDO)XQGRISHUFHQWRIRSHUDWLQJ H[SHQGLWXUHVEULQJLQJWKHWRWDORSHUDWLQJUHVHUYHWDUJHWWRSHUFHQWRIRSHUDWLQJH[SHQGLWXUHV 
)HGHUDO6WLPXOXV5HVHUYH
7KH&LW\HVWDEOLVKHGDWHPSRUDU\IHGHUDOVWLPXOXVUHVHUYHIRUWKH&LW\¶VDOORFDWLRQ RIWKH$PHULFDQ5HVFXH3ODQ$FWIHGHUDOVWLPXOXV
&RURQDYLUXV6WDWHDQG/RFDO)LVFDO5HFRYHU\)XQGV

XQWLO RQHWLPH H[SHQGLWXUHV RU WUDQVIHUV WR RWKHU &LW\ IXQGV DUH DSSURYHG RYHU WKH UHPDLQLQJ FRXUVH RI WKH SDQGHPLF 7KH IHGHUDO VWLPXOXV IXQGLQJ PXVW EH REOLJDWHG E\ 'HFHPEHU   DQG IXOO\ H[SHQGHG E\ 'HFHPEHU

5DWH 6WDELOL]DWLRQ )XQGV
7KH (OHFWULF 'HSDUWPHQW PDLQWDLQV D UDWH VWDELOL]DWLRQ IXQG WDUJHWHG DW D PLQLPXPSROLF\OHYHORISHUFHQWRIRSHUDWLQJH[SHQVHV7KLV DOORZVWKH&LW\WLPHWRUHDFWWRPDMRU FKDQJHVWRWKHFRVWRIHOHFWULFLW\ZLWKRXWKDYLQJWRLPSRVHDQHPHUJHQF\UDWHLQFUHDVH5DWHVWDELOL]DWLRQ IXQGV DUH DOVR XVHG LQ WKH (QYLURQPHQWDO 8WLOLWLHV 'HSDUWPHQW I XQGV :DWHU :DVWHZDWHU DQG :DVWH6HUYLFHVWRKHOSHDVHWKHLPSDFWVRIUDWHLQFUHDVHVRYHUDSHULRGRI\HDUV 
)OHHW5HSODFHPHQW)XQG
 7KH&LW\IXQGVWKHFRVW RIUHSODFHPHQWYHKLFOHVRYHUWKHXVHIXO OLIHRIWKH YHKLFOH 7KLVHQVXUHVWKDWPRQH\LVDYDLODEOHWRNHHSWKH&LW\¶VYHKLFOHIOHHWRSHUDWLQJSURSHUO\DQGVDIHO\ 
6WUDWHJLF,PSURYHPHQW)XQG
7KH&LW\GHYHORSHGDIXQGWKDWSURYLGHV&RXQFLOZLWKUHVRXUFHVWKDWFDQ EHXVHGIRUSHULRGLFVWUDWHJLFLQYHVWPHQWVRQEHKDOIRIWKH&L W\7KLVIXQGKDVEHHQXVHGWRDFTXLUHODQG DQGFRQVWUXFWLPSURYHPHQWVSULPDULO\LQUHGHYHORSPHQWDUHDV7KLVIXQGLVLQFOXGHGLQWKH&LW\¶V*HQHUDO )XQGIRUILQDQFLDOUHSRUWLQJ
iii

23(% 7UXVW )XQG
 7KH &LW\ HVWDEOLVKHG DQ LUUHYRFDEOH WUXVW LQ ILVFDO \HDU  WR DGGUHVV WKH &LW\¶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¶V23(%IXQGLQJSROLF\WKH23(%XQIXQGHGOLDELOLW\LVGHFUHDVLQJZLWKLQFUHDVHGFRQWULEXWLRQV DQGLQYHVWPHQWUHWXUQV

3HQVLRQ7UXVW)XQG
7KH&LW\HVWDEOLVKHGD3HQVLRQ5HVHUYH7UXVW)XQGLQILVFDO\HDUDVDUHVHUYH DJDLQVW IXWXUH SHQVLRQ FRVW LQFUHDVHV 7KLV IXQG LV LQFOXGHG LQ WKH &LW\¶V *HQHUDO )XQG IRU ILQDQFLDO UHSRUWLQJLQILVFDO\HDU7KH6HFWLRQWUXVWZDVIXQGHGLQILVFDO\HDUZLWKWKHPLOOLRQ RIDFFXPXODWHG*HQHUDO)XQGUHVRXUFHVDQGZLOOEHUHSRUWHGDVD ILGXFLDU\SHQVLRQWUXVWIXQGVWDUWLQJLQ ILVFDO\HDU

0$-25$&7,9,7,(6,17+(&,7<

0DQ\RIWKHPDMRUDFWLYLWLHVXQGHUWDNHQLQILVFDO\HDUDUHFRQVLVWHQWZLWKWKH&LW\&RXQFLO¶VGLUHFWLRQWR IRFXV RQ SURMHFWV DQG IXQGLQJ WKDW SURYLGH HFRQRPLF VWDELOLW\ DQ G H Q K D Q F H W K H & L W \ ¶ V O R Q J  W H U P I L Q D Q F L D O  FRQGLWLRQZKLOHPDLQWDLQLQJKLJKOHYHOVRIVHUYLFHWRWKHROGHUSDUWVRIWKHFRPPXQLW\0DMRUSURMHFWVLQFOXGHG 

x 3XEOLF:RUNV
7KH&LW\KDVFRPSOHWHGWKHIROORZLQJSURMHFWV
DOOIRXUSKDVHVRIFXUEUDPSUHSODFHPHQW
DQGWKUHH
RIIRXU
SKDVHVRIURDGUHSDLUVIRUWKH6XQ&LW\5HVXUIDFLQJ3URMHFW 3KDVHRIWKH7D\ORU5RDG
3DUNDQG5LGH,PSURYHPHQWV
3KDVHRIWKHWHQDQWLPSURYHPHQWV DW6RXWK*UDQW6WUHHW DQGWHQDQW
LPSURYHPHQWVDW9HUQRQ6WUHHWIRUWKH&LW\¶V9HQWXUH/DE7 KH&LW\KDVDOVREHJXQRUFRQWLQXHG FRQVWUXFWLRQ RI WKH IROORZLQJ SURMHFWV
 =HUR (PLVVLRQ %XV 'HSRW
 :DVKLQJWRQ $OO $PHULFD &LW\
5RXQGDERXW3URMHFW
5RVHYLOOH3DUNZD\([WHQVLRQ
3KDVHRIWKH'U\&UHHN*UHHQZD\(DVW7UDLO3URMHFW

DQG7UDIILF6LJQDOVDQG5RDGZD\,PSURYHPHQWVIRUWKH5RVHYLOOH6RFFHU&RPSOH[7KH&LW\KDVDOVR EHJXQRUFRQWLQXHGGHVLJQRIWKHIROORZLQJSURMHFWV
3OHDVDQW* URYH:LGHQLQJ
UHPDLQLQJSKDVHRIURDG
UHSDLUVIRUWKH6XQ&LW\5HVXUIDFLQJ3URMHFW
9HUQRQ$WODQWLF0 XOWLPRGDO6DIHW\,PSURYHPHQW3URMHFW 
5RVHYLOOH3DUNZD\:LGHQLQJDQG3OHDVDQW*URYH7ULSOH/HIWV WKH3OHDVDQW*URYH6WRUPZDWHU5HWHQWLRQ
%DVLQV3URMHFW
3ROLFH'HSDUWPHQW%XLOGLQJ([SDQVLRQ
DQG)LUH6WDWLRQ1R'HVLJQLVDOVRDQWLFLSDWHG
WREHJLQVRRQRQWKH%OXH2DNV%RXOHYDUG%ULGJHDQG5RDG:LGHQLQJ3URMHFW 
x :DWHU 8WLOLW\
 ,Q  &LW\ VWDII DUH ZRUNLQJ GLOLJHQWO\ RQ WKH :DWHU 'LVWULEXWLRQ 6\VWHPV 8SJUDGH 3URMHFW7KLVSURMHFWLQFOXGHVORRSHGFRQQHFWLRQVHDVHPHQWSXUFKDVHVDQGZRUNRQH[LVWLQJEULGJHVDERYH 'U\&UHHN:KHQFRQVWUXFWHGWKHSURMHFWZLOOSURYLGHPXFKQHHGHGXSJUDGHVDQGV\VWHPORRSLQJLQROGHU QHLJKERUKRRGVWRLQFUHDVHRYHUDOOZDWHUGHOLYHU\UHOLDELOLW\7KHSURMHFWLVVODWHGWREHFRPSOHWHLQ 
7KH&LW\KDVFRQWLQXHGWRPDNHVLJQLILFDQWSURJUHVVRQWKHGHVLJQDQGFRQVWUXFWLRQRIVL[QHZDGGLWLRQDO DTXLIHU VWRUDJH DQG UHFRYHU\
$65
 ZHOOV $V SDUW RI GURXJKW PLWLJDWLRQ PHDVXUHV 5RVHYLOOH EHJDQ FRQVWUXFWLRQRQWZRRIWKH$65ZHOOVLQDQGWKH\KDYHQRZEHHQFRPSOHWHG,QDGGLWLRQWKHGULOOLQJ RIWKHWZRQHZZHOOVKDYHEHHQFRPSOHWHGLQILVFDO\HDU7 KHUHPDLQLQJZHOOVDQGSXPSVWDWLRQV ZLOOEHFRQVWUXFWHGRYHUWKHQH[WIHZ\HDUV

:LWK WKH :HVW 6LGH 7DQN DQG 3XPS 6WDWLRQ 3URMHFW FRPSOHWH D QHZ &UHZ )DFLOLW\ SURMHFW LV EHLQJ FRQVWUXFWHGRQWKHVDPHVLWH7KLVSURMHFWZLOOEXLOGDQRIILFHIDFLOLW\DQGPHFKDQLFVVKRSZKLFKLVVODWHG WREHFRPSOHWHLQ7KLVIDFLOLW\ZLOOVHUYHDVWKHZRUNSODFHIRUQXPHURXVZDWHURSHUDWLRQVSHUVRQQHO DQGZLOODOVRIXQFWLRQDVDFHQWUDORSHUDWLRQVKXEIRUUHPRWHZDWHUIDFLOLWLHV 
iv

7KH&LW\FRQWLQXHVWRZRUNRQDMRLQWZDWHUSURMHFWZLWKWKH3O DFHU&RXQW\:DWHU$JHQF\ 3&:$
WR
LQFUHDVHWKHFDSDFLW\RIZDWHULQWDNHVDQGWREXLOGKLJKHUFDSD FLW\FRQYH\DQFHZLWKLQWKH3&:$VHUYLFH DUHDWKDWZLOOXOWLPDWHO\DOORZDFFHVVWRH[LVWLQJFRQWUDFWZDW HUVXSSOLHVXSVWUHDPRI)ROVRP5HVHUYRLU IRU JUHDWHU ZDWHU GHOLYHU\ UHOLDELOLW\ 7KLV MRLQW DJHQF\ SURMHFW LV DQWLFLSDWHG WR EH FRPSOHWH E\  VXEMHFWWRIXQGLQJ

x :DVWHZDWHU8WLOLW\
7KH3OHDVDQW*URYH:DVWHZDWHU7UHDWPHQW3O DQW([SDQVLRQDQGWKH3OHDVDQW*URYH (QHUJ\5HFRYHU\3URMHFWVKDYHEHHQFRPSOHWHG7KHVHSURMHFWVLQFUHDVHWUHDWPHQWFDSDFLW\DWWKH3OHDVDQW *URYH:DVWHZDWHU3ODQWE\PLOOLRQJDOORQVSHUGD\DYHUDJHGU\ZHDWKHUIORZWRDFFRPPRGDWHJURZWK LQ WKH 6RXWK 3ODFHU :DVWHZDWHU $XWKRULW\
63:$
 VHUYLFH DUHD WKURXJK  ,Q DGGLWLRQ WKH QHZ GLJHVWHUVLQVWDOOHGDVSDUWRIWKH([SDQVLRQ3URMHFWSURGXFHGLJHVWHUJDVWKDWLVXVHGWRJHQHUDWHUHQHZDEOH QDWXUDOJDVWRIXHODSRUWLRQRIWKH&LW\¶V:DVWH6HUYLFHVIOHHWRSHUDWHPLFURWXUELQHVWKDWDUHXVHGWRKHOS SRZHUWKH3OHDVDQW*URYH:DVWHZDWHU7UHDWPHQW3ODQWDQGKHDWWK HGLJHVWHUVDOORZLQJWKHGLJHVWHUVWR JHQHUDWHDGGLWLRQDOGLJHVWHUJDV

x 6ROLG :DVWH 8WLOLW\
 7KH &RPSUHVVHG 1DWXUDO *DV )XHOLQJ 6WDWLRQ 8SJUDGH 3URMHFW ZDV FRPSOHWHG LQ  &RPSUHVVHG QDWXUDO JDV LV DQ DOWHUQDWLYH IXHOHG YHKLFOHW R Z K L F K W K H F L W \ K D V H P S O R \ H G V X F K  YHKLFOHV VLQFH 

 7KLV SURMHFW XSJUDGHG WKH FXUUHQW IXHOLQJ VWDWLRQ WR PHHW FXUUHQW UHJXODWLRQV DQG UHSODFHGHTXLSPHQWWKDWZDVSDVWXVDEOHOLIH

x (OHFWULF 8WLOLW\
 7KH&LW\FRQWLQXHG RQJRLQJ H[SDQVLRQRILWV HOHFWULFGLVWULEXWLRQV\VWHPWR VHUYHQHZ FXVWRPHUVDQGUHKDELOLWDWLRQRIH[LVWLQJHOHFWULFDVVHWVWRPDLQWDLQUHOLDEOHVHUYLFH 
x 3DUNV 5HFUHDWLRQ  /LEUDULHV
 7KH &LW\ FRPSOHWHG FRQVWUXFWLRQ RQ WKUHH

 QHLJKERUKRRG SDUNV
)RXU&RUQHUV&ULPVRQ5LGJHDQG$XGUH\+XLVNLQJSDUNV&RQVWUXFWLRQVWDUWHGRQ7KH&RXUWVDW*LEVRQ 'HQLR )DPLO\
)
 5LHJR &UHHN
)
 DQG 6RODLUH
:%
 SDUNV &RQVWUXFWLRQ DOVR FRQWLQXHV RQ
&DPSXV2DNV3DUN$JURXQGEUHDNLQJZDVKHOGIRUWKHUHJLRQDO5RVHYLOOH6RFFHU&RPSOH[5HKDELOLWDWLRQ SURMHFWV FRPSOHWHG LQFOXGH WKH SRRO UHSODVWHU DW WKH 0LNH 6KHOOLWR ,QGRRU 3RRO VSRUWV ILHOG IHQFLQJ

DW0DLGX6RFFHU&HQWUDODQG&UDEESDUNV
DQGSOD\VWUXFWXUHUHSODFHPHQWVLQFOXGLQJORFDWLRQVDW5R\HU %OXH2DNV.HQZRRG2DNV/RFNULGJH(UYHQDQG:KLWHSDUNV3ODQQLQJIRURWKHUUHKDELOLWDWLRQSURMHFWV LQFOXGHSOD\VWUXFWXUHVDW3LQHVFKL7ZLQZRRG9HWHUDQVDQG+DOOSDUNV :HEHUDQG6DXJVWDGUHQRYDWLRQV
$'$ XSJUDGHV DW -RKQVRQ 3RRO DQG SRRO GHFN SRRO UHSODVWHU DQG PHFKDQLFDO UHIXUELVKPHQW DW -RKQVRQ3RRO$QHZSLHFHRISXEOLFDUWDVFXOSWXUHHQWLWOHG³5HPHPEUDQFH´ZDVLQVWDOOHGDQGGHGLFDWHG DW9HWHUDQV0HPRULDO3DUN1RUWK

x 'HYHORSPHQW 6HUYLFHV
 'HYHORSPHQW DFWLYLW\ UHPDLQV UREXVW DOWKRXJK WKHUH KDV EHHQ D VKLIW LQ IRFXV WRZDUG GLIIHUHQW PDUNHW VHJPHQWV FRPSDUHG WR UHFHQW \HDUV :KLOH QHZ VXEGLYLVLRQ FRQVWUXFWLRQ KDV H[SHULHQFHG D VORZGRZQ WKH PXOWLIDPLO\ WHQDQW LPSURYHPHQWV DQG QHZ FRPPHUFLDO FRQVWUXFWLRQ VHFWRUV KDYH PDLQWDLQHG VWHDG\ JURZWK ,Q ILVFDO \HDU  WKH &LW\ LVVXHG D WRWDO RI  EXLOGLQJ SHUPLWVUHIOHFWLQJWKHHYROYLQJODQGVFDSHRIGHYHORSPHQW 
6SHFLILFDOO\ WKHUH KDV EHHQ D QRWDEOH GHFUHDVH LQ VLQJOHIDPLO\ UHVLGHQWLDO SHUPLWV ZLWK  LVVXHG FRPSDUHG WR  LQ WKH SUHYLRXV ILVFDO \HDU &RQYHUVHO\ SHUPLWV IRU PXOWLIDPLO\ DSDUWPHQW XQLWV VXUJHGZLWK
LVVXHGFRPSDUHGWRLQWKHSUHFHGLQJ\HDU )XUWKHUPRUHDQDGGLWLRQDOPXOWL IDPLO\XQLWVDUHLQYDULRXVVWDJHVRIGHYHORSPHQWZLWKDVLJQL ILFDQWSRUWLRQ±RYHUXQLWV±EHLQJ GHHGUHVWULFWHGDIIRUGDEOHKRXVLQJ:KLOHWKHGHFOLQHLQVLQJOHIDPLO\UHVLGHQWLDODFWLYLW\FRXOGVXJJHVWD SODWHDX LQ WKH SDQGHPLF GULYHQ VXUJH RYHUDOO GHYHORSPHQW DFWLYLW\ UHPDLQV DERYH KLVWRULFDO DQQXDO DYHUDJHV

7KHFRPPHUFLDOFRQVWUXFWLRQVHFWRUKDVVHHQSRVLWLYHPRPHQWXP ZLWKWKHQXPEHURIQHZFRPPHUFLDO v
vi
City Council
Mayor/
Council Members
Grants
Advisory
Commission
Library Board
Parks &
Recreation
Commission
City Attorney
City Manager
Personnel
Board
Planning
Commission
Public Utilities
Commission
Senior
Commission
Transportation
Commission
Public Affairs /
Communications
Parks,
Recreation, &
Libraries
Fire
Assistant City
Manager/Chief
Financial Officer
Assistant City
Manager
Environmental
Utilities
Police
Public Works
Finance
Information
Technology
Roseville
Residents
Roseville Electric
Economic
Development
The City Council also acts as
the Board for the following:

Housing Authority
Finance Authority
Natural Gas Financing Authority
Successor Agency
City Clerk
Development
Services
Assistant City
Manager
Human Resources
Citywide Organization Chart
vii
&,7<2)526(9,//(
(/(&7('2)),&,$/6
-81(






0D\RU %UXFH+RXGHVKHOGW
9LFH0D\RU  .ULVWD%HUQDVFRQL
&RXQFLO0HPEHU 7UDF \0HQGRQVD
&RXQFLO0HPEHU 6FRWW$OYRUG
&RXQFLO0HPEHU 3DXOLQH5RFFXFFL



viii
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Roseville
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2022
Executive Director/CEO
ix

THIS PAGE INTENTIONALLY LEFT BLANK

1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com

,1'(3(1'(17$8',7256¶5(3257

7RWKH+RQRUDEOH0D\RUDQG0HPEHUVRIWKH&LW\&RXQFLO &LW\RI5RVHYLOOH&DOLIRUQLD

5HSRUWRQWKH$XGLWRIWKH)LQDQFLDO6WDWHPHQWV

Opinions
:HKDYHDXGLWHGWKHDFFRPSDQ\LQJILQDQFLDOVWDWHPHQWVRIWKHJRYHUQPHQWDODFWLYLWLHVWKHEXVLQHVVW\SHDFWLYLWLHV HDFKPDMRUIXQGDQGWKHDJJUHJDWHUHPDLQLQJIXQGLQIRUPDWLRQRIWKH&LW\RI5RVHYLOOH&DOLIRUQLD WKH³&LW\´

DV
RIDQGIRUWKH\HDUHQGHG-XQHDQGWKHUHODWHGQRWHV WRWKHILQDQFLDOVWDWHPHQWVZKLFKFROOHFWLYHO\ FRPSULVHWKH&LW\¶VEDVLFILQDQFLDOVWDWHPHQWVDVOLVWHGLQWKHWDEOHRIFRQWHQWV 
,QRXURSLQLRQWKHILQDQFLDOVWDWHPHQWVUHIHUUHGWRDERYHSUHV HQWIDLUO\LQDOOPDWHULDOUHVSHFWVWKHUHVSHFWLYH ILQDQFLDOSRVLWLRQRIWKHJRYHUQPHQWDODFWLYLWLHVWKHEXVLQHVV W\SHDFWLYLWLHVHDFKPDMRUIXQGDQGWKHDJJUHJDWH UHPDLQLQJIXQGLQIRUPDWLRQRIWKH&LW\DVRI-XQHDQGWKHUHVSHFWLYHFKDQJHVLQILQDQFLDOSRVLWLRQDQG ZKHUHDSSOLFDEOHFDVKIORZVWKHUHRIIRUWKH\HDUWKHQHQGHGL QDFFRUGDQFHZLWKDFFRXQWLQJSULQFLSOHVJHQHUDOO\ DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFD

Basis for Opinions
:HFRQGXFWHGRXUDXGLWLQDFFRUGDQFHZLWKDXGLWLQJVWDQGDUGVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFD DQGWKHVWDQGDUGVDSSOLFDEOHWRILQDQFLDODXGLWVFRQWDLQHGLQ Government Auditing Standards LVVXHGE\WKH &RPSWUROOHU*HQHUDORIWKH8QLWHG6WDWHV2XUUHVSRQVLELOLWLHV XQGHUWKRVHVWDQGDUGVDUHIXUWKHUGHVFULEHGLQWKH $XGLWRU¶V5HVSRQVLELOLWLHVIRUWKH$XGLWRIWKH)LQDQFLDO6WDWH PHQWVVHFWLRQRIRXUUHSRUW:HDUHUHTXLUHGWREH LQGHSHQGHQWRIWKH&LW\DQGWRPHHWRXURWKHUHWKLFDOUHVSRQVLE LOLWLHVLQDFFRUGDQFHZLWKWKHUHOHYDQWHWKLFDO UHTXLUHPHQWVUHODWLQJWRRXUDXGLW:HEHOLHYHWKDWWKHDXGLWHYLGHQFHZHKDYHREWDLQHGLVVXIILFLHQWDQGDSSURSULDWH WRSURYLGHDEDVLVIRURXUDXGLWRSLQLRQV

Emphasis of Matter

Change in Accounting Principle

$V GHVFULEHG LQ 1RWH  WR WKH ILQDQFLDO VWDWHPHQWV LQ  WKH &LW\ DGRSWHG QHZ DFFRXQWLQJ JXLGDQFH *$6%6WDWHPHQW1R
 Subscription Based Information Technology Arrangements2XURSLQLRQLVQRWPRGLILHG ZLWKUHVSHFWWRWKLVPDWWHU

Responsibilities of Management for the Financial Statements 0DQDJHPHQWLVUHVSRQVLEOHIRUWKHSUHSDUDWLRQDQGIDLUSUHVHQWDWLRQRIWKHILQDQFLDOVWDWHPHQWVLQDFFRUGDQFHZLWK DFFRXQWLQJSULQFLSOHVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFDDQGIRUWKHGHVLJQLPSOHPHQWDWLRQDQG PDLQWHQDQFHRILQWHUQDOFRQWUROUHOHYDQWWRWKHSUHSDUDWLRQDQGIDLUSUHVHQWDWLRQRIILQDQFLDOVWDWHPHQWVWKDWDUHIUHH IURPPDWHULDOPLVVWDWHPHQWZKHWKHUGXHWRIUDXGRUHUURU 

7RWKH+RQRUDEOH0D\RUDQG0HPEHUVRIWKH&LW\&RXQFLO &LW\RI5RVHYLOOH&DOLIRUQLD


,QSUHSDULQJWKHILQDQFLDOVWDWHPHQWVPDQDJHPHQWLVUHTXLUHGWRHYDOXDWHZKHWKHUWKHUHDUHFRQGLWLRQVRUHYHQWV FRQVLGHUHGLQWKHDJJUHJDWHWKDWUDLVHVXEVWDQWLDOGRXEWDERXWWKH&LW\¶VDELOLW\WRFRQWLQXHDVDJRLQJFRQFHUQIRU WZHOYHPRQWKVEH\RQGWKHILQDQFLDOVWDWHPHQWGDWHLQFOXGLQJDQ \FXUUHQWO\NQRZQLQIRUPDWLRQWKDWPD\UDLVH VXEVWDQWLDOGRXEWVKRUWO\WKHUHDIWHU

Auditor’s Responsibilities for the Audit of the Financial Statements 2XUREMHFWLYHVDUHWRREWDLQUHDVRQDEOHDVVXUDQFHDERXWZKHWKHUWKHILQDQFLDOVWDWHPHQWVDVDZKROHDUHIUHHIURP PDWHULDOPLVVWDWHPHQWZKHWKHUGXHWRIUDXGRUHUURUDQGWRLV VXHDQDXGLWRU¶VUHSRUWWKDWLQFOXGHVRXURSLQLRQV 5HDVRQDEOHDVVXUDQFHLVDKLJKOHYHORIDVVXUDQFHEXWLVQRWDEVROXWHDVVXUDQFHDQGWKHUHIRUHLVQRWDJXDUDQWHH WKDWDQDXGLWFRQGXFWHGLQDFFRUGDQFHZLWKJHQHUDOO\DFFHSWHGD XGLWLQJVWDQGDUGVDQG Government Auditing Standards ZLOO DOZD\V GHWHFW D PDWHULDO PLVVWDWHPHQW ZKHQ LW H[LVWV 7KH ULVN RI QRW GHWHFWLQJ D PDWHULDO PLVVWDWHPHQWUHVXOWLQJIURPIUDXGLVKLJKHUWKDQIRURQHUHVXOWLQJIURPHUURUDVIUDXGPD\LQYROYHFROOXVLRQIRUJHU\ LQWHQWLRQDORPLVVLRQVPLVUHSUHVHQWDWLRQVRUWKHRYHUULGHRILQWHUQDOFRQWURO0LVVWDWHPHQWVDUHFRQVLGHUHGPDWHULDO LIWKHUHLVDVXEVWDQWLDOOLNHOLKRRGWKDWLQGLYLGXDOO\RULQWKHDJJUHJDWHWKH\ZRXOGLQIOXHQFHWKHMXGJPHQWPDGHE\ DUHDVRQDEOHXVHUEDVHGRQWKHILQDQFLDOVWDWHPHQWV

,QSHUIRUPLQJDQDXGLWLQDFFRUGDQFHZLWKJHQHUDOO\DFFHSWHGDX GLWLQJVWDQGDUGVDQG Government Auditing StandardsZH


x ([HUFLVHSURIHVVLRQDOMXGJPHQWDQGPDLQWDLQSURIHVVLRQDOVNHSW LFLVPWKURXJKRXWWKHDXGLW 
x ,GHQWLI\DQGDVVHVVWKHULVNVRIPDWHULDOPLVVWDWHPHQWRIWKHILQDQFLDOVWDWHPHQWVZKHWKHUGXHWRIUDXGRUHUURU DQGGHVLJQDQGSHUIRUPDXGLWSURFHGXUHVUHVSRQVLYHWRWKRVHULVNV6XFKSURFHGXUHVLQFOXGHH[DPLQLQJRQD WHVWEDVLVHYLGHQFHUHJDUGLQJWKHDPRXQWVDQGGLVFORVXUHVLQWKHILQDQFLDOVWDWHPHQWV 
x 2EWDLQDQXQGHUVWDQGLQJRILQWHUQDOFRQWUROUHOHYDQWWRWKHDX GLWLQRUGHUWRGHVLJQDXGLWSURFHGXUHVWKDWDUH DSSURSULDWHLQWKHFLUFXPVWDQFHVEXWQRWIRUWKHSXUSRVHRIH[SUHVVLQJDQRSLQLRQRQWKHHIIHFWLYHQHVVRIWKH &LW\¶VLQWHUQDOFRQWURO$FFRUGLQJO\QRVXFKRSLQLRQLVH[SUHVVHG 
x (YDOXDWHWKHDSSURSULDWHQHVVRIDFFRXQWLQJSROLFLHVXVHGDQGW KHUHDVRQDEOHQHVVRIVLJQLILFDQWDFFRXQWLQJ HVWLPDWHVPDGHE\PDQDJHPHQWDVZHOODVHYDOXDWHWKHRYHUDOOSUHVHQWDWLRQRIWKHILQDQFLDOVWDWHPHQWV 
x &RQFOXGHZKHWKHULQRXUMXGJPHQWWKHUHDUHFRQGLWLRQVRUHYHQWVFRQVLGHUHGLQWKHDJJUHJDWHWKDWUDLVH VXEVWDQWLDOGRXEWDERXWWKH&LW\¶VDELOLW\WRFRQWLQXHDVDJRLQJFRQFHUQIRUDUHDVRQDEOHSHULRGRIWLPH 
:HDUHUHTXLUHGWRFRPPXQLFDWHZLWKWKRVHFKDUJHGZLWKJRYHUQDQFHUHJDUGLQJDPRQJRWKHUPDWWHUVWKHSODQQHG VFRSHDQGWLPLQJRIWKHDXGLWVLJQLILFDQWDXGLWILQGLQJVDQGFHUWDLQLQWHUQDOFRQWUROUHODWHGPDWWHUVWKDWZHLGHQWLILHG GXULQJWKHDXGLW

Required Supplementary Information
$FFRXQWLQJSULQFLSOHVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFDUHTXLUHWKDWWKHPDQDJHPHQW¶VGLVFXVVLRQ DQG DQDO\VLV EXGJHWDU\ FRPSDULVRQ VFKHGXOH IRU WKH *HQHUDO )XQG WKH PRGLILHG DSSURDFK IRU WKH &LW\¶V LQIUDVWUXFWXUHDVVHWVWKHVFKHGXOHVRIFKDQJHVLQQHWSHQVLRQ OLDELOLW\DQGUHODWHGUDWLRVWKHVFKHGXOHVRI FRQWULEXWLRQVSHQVLRQVWKHVFKHGXOHRIFKDQJHVLQQHW23(%O LDELOLW\DQGUHODWHGUDWLRVDQGWKHVFKHGXOHRI FRQWULEXWLRQV±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¶V 2 
7RWKH+RQRUDEOH0D\RUDQG0HPEHUVRIWKH&LW\&RXQFLO &LW\RI5RVHYLOOH&DOLIRUQLD


UHVSRQVHVWRRXULQTXLULHVWKHEDVLFILQDQFLDOVWDWHPHQWVDQGRWKHUNQRZOHGJHZHREWDLQHGGXULQJRXUDXGLWRIWKH EDVLFILQDQFLDOVWDWHPHQWV:HGRQRWH[SUHVVDQRSLQLRQRUSURYLGHDQ\DVVXUDQFHRQWKHLQIRUPDWLRQEHFDXVHWKH OLPLWHGSURFHGXUHVGRQRWSURYLGHXVZLWKVXIILFLHQWHYLGHQFHWRH[SUHVVDQRSLQLRQRUSURYLGHDQ\DVVXUDQFH Supplementary Information
2XUDXGLWZDVFRQGXFWHGIRUWKHSXUSRVHRIIRUPLQJRSLQLRQVRQWKHILQDQFLDOVWDWHPHQWVWKDWFROOHFWLYHO\FRPSULVH WKH&LW\¶VEDVLFILQDQFLDOVWDWHPHQWV7KHDFFRPSDQ\LQJFRPELQLQJDQGLQGLYLGXDOIXQGILQDQFLDOVWDWHPHQWVDQG VFKHGXOHV
VXSSOHPHQWDU\LQIRUPDWLRQ
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
Other Information

0DQDJHPHQWLVUHVSRQVLEOHIRUWKHRWKHULQIRUPDWLRQLQFOXGHGLQWKHDQQXDOUHSRUW7KHRWKHULQIRUPDWLRQFRPSULVHV WKHLQWURGXFWRU\DQGVWDWLVWLFDOVHFWLRQVEXWGRHVQRWLQFOXGHWKHEDVLFILQDQFLDOVWDWHPHQWVDQGRXUDXGLWRU¶VUHSRUW WKHUHRQ2XURSLQLRQVRQWKHEDVLFILQDQFLDOVWDWHPHQWVGRQRWFRYHUWKHRWKHULQIRUPDWLRQDQGZHGRQRWH[SUHVV DQRSLQLRQRUDQ\IRUPRIDVVXUDQFHWKHUHRQ

,QFRQQHFWLRQZLWKRXUDXGLWRIWKHEDVLFILQDQFLDOVWDWHPHQWVRXUUHVSRQVLELOLW\LVWRUHDGWKHRWKHULQIRUPDWLRQDQG FRQVLGHUZKHWKHUDPDWHULDOLQFRQVLVWHQF\H[LVWVEHWZHHQWKHRWKHULQIRUPDWLRQDQGWKHEDVLFILQDQFLDOVWDWHPHQWV RUWKHRWKHULQIRUPDWLRQRWKHUZLVHDSSHDUVWREHPDWHULDOO\PLVVWDWHG,IEDVHGRQWKHZRUNSHUIRUPHGZHFRQFOXGH WKDWDQXQFRUUHFWHGPDWHULDOPLVVWDWHPHQWRIWKHRWKHULQIRUPDWLRQH[LVWVZHDUHUHTXLUHGWRGHVFULEHLWLQRXUUHSRUW 
2WKHU5HSRUWLQJ5HTXLUHGE\Government Auditing Standards 
,QDFFRUGDQFHZLWKGovernment Auditing StandardsZHKDYHDOVRLVVXHGRXUUHSRUWGDWHG0DUFKRQRXU FRQVLGHUDWLRQRIWKH&LW\¶VLQWHUQDOFRQWURORYHUILQDQFLDOUHS RUWLQJDQGRQRXUWHVWVRILWVFRPSOLDQFHZLWKFHUWDLQ SURYLVLRQVRIODZVUHJXODWLRQVFRQWUDFWVDQGJUDQWDJUHHPHQW VDQGRWKHUPDWWHUV7KHSXUSRVHRIWKDWUHSRUWLV VROHO\WRGHVFULEHWKHVFRSHRIRXUWHVWLQJRILQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJDQGFRPSOLDQFHDQGWKHUHVXOWV RIWKDWWHVWLQJDQGQRWWRSURYLGHDQRSLQLRQRQWKHHIIHFWLYHQHVVRIWKH&LW\¶VLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJ RURQFRPSOLDQFH7KDWUHSRUWLVDQLQWHJUDOSDUWRIDQDXGLWS HUIRUPHGLQDFFRUGDQFHZLWK Government Auditing StandardsLQFRQVLGHULQJ&LW\¶VLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJDQGFRPSOLDQFH 

6DFUDPHQWR&DOLIRUQLD
0DUFK
3 THIS PAGE INTENTIONALLY LEFT BLANK
4 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(

7KHIROORZLQJGLVFXVVLRQSURYLGHVUHDGHUVRIWKH&LW\RI5RVHYLOOH¶V &LW\
ILQDQFLDOVWDWHPHQWVDQDUUDWLYHRYHUYLHZ
DQGDQDO\VLVRIWKHILQDQFLDODFWLYLWLHVRIWKH&LW\IRUWKHILVFDO\HDUHQGHG-XQH7KH&LW\UHFRPPHQGVWKDW WKLVGRFXPHQWEHUHDGLQFRQMXQFWLRQZLWKWKHDFFRPSDQ\LQJ/HWWHURI7UDQVPLWWDODQG%DVLF)LQDQFLDO6WDWHPHQWV 
),6&$/<($5),1$1&,$/+,*+/,*+76

)LQDQFLDOKLJKOLJKWVRIWKH&LW\¶VILVFDO\HDULQFOXGHWKHIROORZLQJ 

x 7KH&LW\¶V*HQHUDO)XQGUHYHQXHDQGRWKHUILQDQFLQJVRXUFHV XVHV
H[FHHGHGH[SHQGLWXUHVE\PLOOLRQ
LQILVFDO\HDU7KLVZDVSULPDULO\DWWULEXWDEOHWRKLJKHU SURSHUW\WD[DQGGHYHORSPHQWUHODWHGUHYHQXHV H[FHHGLQJH[SHFWDWLRQVSDUWO\RIIVHWE\XQGHUSHUIRUPLQJVDOHV WD[UHYHQXHDVZHOODVH[SHQGLWXUHVDYLQJV SULPDULO\DWWULEXWDEOHWRVWDIIWXUQRYHUYDFDQF\VDYLQJV 
x 7KHYRWHUDSSURYHG0HDVXUH%ORFDOVDOHVWD[JHQHUDWHG*HQHUDO )XQGUHYHQXHWRWDOLQJPLOOLRQ7KH DGGLWLRQDOUHYHQXHDOORZHGWKH&LW\WRPDLQWDLQHVVHQWLDOVHUYLFHVDQGLWV*HQHUDO)XQG6WDELOL]DWLRQ5HVHUYH WRDGGUHVVIXWXUHHFRQRPLFGRZQWXUQV

x 7KH&LW\¶VYRWHUVDSSURYHG0HDVXUH&LQWKH1RYHPEHUHOHFWLRQWRLQFUHDVHWKH&LW\¶VWUDQVLHQWRFFXSDQF\ WD[
727
RUKRWHOWD[IURPVL[SHUFHQWWRWHQSHUFHQWZKLFK LVH[SHFWHGWREULQJLQDIHZPLOOLRQGROODUVRI DGGLWLRQDOUHYHQXHWRWKH*HQHUDO)XQGDQQXDOO\

x 7KH&LW\DGGHGPLOOLRQWRLWV*HQHUDO)XQGUHVHUYHVDQGPDGHLWVVHFRQG$GGLWLRQDO'LVFUHWLRQDU\3D\PHQW

$'3
RIPLOOLRQWR&DO3(56IURPWKH*HQHUDO)XQGWRSD\GRZ QWKH&LW\¶VSHQVLRQOLDELOLW\7KH&LW\DOVR FRPPLWWHGPLOOLRQWRGHSRVLWLQWRLWVQHZ3HQVLRQ5HVHUYH 7UXVW)XQGZKLFKLVUHSRUWHGDORQJZLWK WKRXVDQGRILQWHUHVWHDUQLQJVDVFRPPLWWHGIXQGEDODQFHLQWKH*HQHUDO)XQGXQWLOWKHWUXVWLVHVWDEOLVKHG DQGIXQGHGLQILVFDO\HDU

x 7RWDODVVHWVDQGGHIHUUHGRXWIORZVRIUHVRXUFHVH[FHHGHGLWVOLDELOLWLHVDQGGHIHUUHGLQIORZVRIUHVRXUFHVDVRI -XQHE\ELOOLRQDQLQFUHDVHRIPLOOLRQRUSHUFHQWRYHUWKHSULRU\HDUSULPDULO\UHODWHG WRLQIUDVWUXFWXUHLQYHVWPHQWVDVVRFLDWHGZLWKQHZGHYHORSPHQWLQWKH&LW\ 
29(59,(:2)7+(&,7<¶6$118$/&2035(+(16,9(),1$1&,$/5(3257 
7KH&LW\¶V$QQXDO&RPSUHKHQVLYH)LQDQFLDO5HSRUW
$&)5
LVGLYLGHGLQWRIRXUVHFWLRQV


x ,QWURGXFWRU\VHFWLRQLQFOXGLQJWKHOHWWHURIWUDQVPLWWDOOLVW RI&LW\HOHFWHGRIILFLDOVDQGWKH&LW\¶VRUJDQL]DWLRQ FKDUW

x )LQDQFLDOVHFWLRQLQFOXGLQJWKHLQGHSHQGHQWDXGLWRUV¶UHSRUWPDQDJHPHQW¶VGLVFXVVLRQDQGDQDO\VLVWKHEDVLF ILQDQFLDOVWDWHPHQWVDQGWKHIRRWQRWHVWRWKHEDVLFILQDQFLDOVWDWHPHQWV 
x 6XSSOHPHQWDO ,QIRUPDWLRQ VHFWLRQ LQFOXGLQJ WKH UHTXLUHG VXSSOHPHQWDU\ LQIRUPDWLRQ DQG VXSSOHPHQWDO LQIRUPDWLRQ

x 6WDWLVWLFDOVHFWLRQFRPSULVHGRIXQDXGLWHGGDWDRUJDQL]HGWRSUHVHQWILQDQFLDOWUHQGVUHYHQXHFDSDFLW\GHEW FDSDFLW\DQGGHPRJUDSKLFDQGHFRQRPLFLQIRUPDWLRQ

7KHJRYHUQPHQWZLGHILQDQFLDOVWDWHPHQWVSURYLGHERWKORQJWHUP DQGVKRUWWHUPLQIRUPDWLRQDERXWWKH&LW\¶V RYHUDOOILQDQFLDOVWDWXV7KHIXQGILQDQFLDOVWDWHPHQWVIRFXVRQLQGLYLGXDOSDUWVRIWKH&LW\JRYHUQPHQWUHSRUWLQJWKH &LW\¶VRSHUDWLRQVLQPRUHGHWDLOWKDQWKHJRYHUQPHQWZLGHVWDWHPHQWV 
7KHQRWHVWRWKHEDVLFILQDQFLDOVWDWHPHQWVSURYLGHDGGLWLRQDO LQIRUPDWLRQHVVHQWLDOWRXQGHUVWDQGLQJWKHGDWD FRQWDLQHGLQWKHJRYHUQPHQWZLGHDQGIXQGILQDQFLDOVWDWHPHQWV 7KHVWDWHPHQWVDQGQRWHVDUHIROORZHGE\WKH UHTXLUHGVXSSOHPHQWDU\LQIRUPDWLRQ
%XGJHWDU\&RPSDULVRQ6FKHGXOHIRUWKH*HQHUDO)XQG6FKHGXOHRI&KDQJHV LQ1HW3HQVLRQ/LDELOLW\DQG5HODWHG5DWLRV6FKHGXOHRI&RQWUL EXWLRQVIRUWKH&LW\¶VSHQVLRQSODQV6FKHGXOHRI &KDQJHVLQ1HW
2WKHU3RVW(PSOR\PHQW%HQHILWV
23(%/LDELOLW\ DQG5HODWHG5DWLRVDQGWKH6FKHGXOHRI &RQWULEXWLRQVIRUWKH&LW\¶V23(%SODQ,QDGGLWLRQWRWKHVHUH TXLUHGHOHPHQWVZHKDYHLQFOXGHGFRPELQLQJ VWDWHPHQWVDQGVFKHGXOHVWKDWSURYLGHGHWDLOVDERXWWKH&LW\¶VQRQPDMRUJRYHUQPHQWDOIXQGVQRQPDMRUHQWHUSULVH IXQGVLQWHUQDOVHUYLFHIXQGVSULYDWHSXUSRVHWUXVWIXQGVDQG FXVWRGLDOIXQGVHDFKRIZKLFKLVSUHVHQWHGLQD FROXPQLQWKHEDVLFILQDQFLDOVWDWHPHQWV
5 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(

*RYHUQPHQWZLGH)LQDQFLDO6WDWHPHQWV

7KHJRYHUQPHQWZLGHVWDWHPHQWVUHSRUWLQIRUPDWLRQDERXWWKH&LW\XVLQJDFFRXQWLQJPHWKRGVOLNHWKRVHXVHGE\ SULYDWHVHFWRUFRPSDQLHV7KHVWDWHPHQWRIQHWSRVLWLRQLQFOXGHVDOORIWKH&LW\¶VDVVHWVDQGOLDELOLWLHVDVZHOODVDQ\ GHIHUUHGRXWIORZVRULQIORZVRIUHVRXUFHV7KHVWDWHPHQWRIDFW LYLWLHVLQFOXGHVDOOFXUUHQW\HDUUHYHQXHVDQG H[SHQVHVUHJDUGOHVVRIZKHQFDVKLVUHFHLYHGRUSDLG7KHVHJRY HUQPHQWZLGHVWDWHPHQWVUHSRUWWKH&LW\¶VQHW SRVLWLRQDQGKRZWKH&LW\¶VQHWSRVLWLRQKDVFKDQJHGGXULQJWKHILVFDO\HDU 
7KHJRYHUQPHQWZLGHILQDQFLDOVWDWHPHQWVRIWKH&LW\SUHVHQWLQIRUPDWLRQDERXWWKHIROORZLQJ 

x Governmental Activities: 0RVWRIWKH&LW\¶VEDVLFVHUYLFHVDUHFRQVLGHUHGWREHJRYHUQPHQWDODFWLYLWLHV7KHVH VHUYLFHVDUHVXSSRUWHGE\JHQHUDO&LW\UHYHQXHVVXFKDVWD[HVDQGE\VSHFLILFSURJUDPUHYHQXHVVXFKDVXVHU IHHVDQGFKDUJHV

x Business-type Activities: &HUWDLQVHUYLFHVSURYLGHGE\WKH&LW\DUHIXQGHGE\FXVWRPHUIHHV$PRQJWKHVHDUH WKH&LW\¶VXWLOLW\VHUYLFHVORFDOWUDQVSRUWDWLRQDQGVFKRRODJHFKLOGFDUH 
)XQG)LQDQFLDO6WDWHPHQWV

$IXQGLVDJURXSRIUHODWHGDFFRXQWVWKDWLVXVHGWRPDLQWDLQFRQWURORYHUUHVRXUFHVWKDWKDYHEHHQVHJUHJDWHGIRU VSHFLILFDFWLYLWLHVRUREMHFWLYHV)XQGILQDQFLDOVWDWHPHQWVSURYLGHPRUHGHWDLOHGLQIRUPDWLRQDERXWWKH&LW\¶VODUJHVW IXQGVQRWWKH&LW\DVDZKROH

7KH&LW\KDVWKUHHW\SHVRIIXQGILQDQFLDOVWDWHPHQWV


x *RYHUQPHQWDOIXQGVWDWHPHQWVSURYLGHLQIRUPDWLRQDERXWKRZWKHJHQHUDOJRYHUQPHQWVHUYLFHVVXFKDVSROLFH ILUHDQGSXEOLFZRUNVZHUHILQDQFHGLQWKHVKRUWWHUPDVZHOODVZKDWUHPDLQVIRUIXWXUHVSHQGLQJ0RVWRIWKH &LW\¶VEDVLFVHUYLFHVDUHLQFOXGHGLQJRYHUQPHQWDOIXQGVZKLFKIRFXVRQ 
VKRUWWHUPLQIORZVDQGRXWIORZVRI
VSHQGDEOHUHVRXUFHVDQG

WKHUHPDLQLQJ\HDUHQGEDODQFHVDYDLODEOHIRUVSHQGLQJ%HFDXVHWKLVLQIRUPDWLRQ GRHVQRWHQFRPSDVVWKHDGGLWLRQDOORQJWHUPIRFXVRIWKHJRYHU QPHQWZLGHVWDWHPHQWVUHFRQFLOLDWLRQVWKDW H[SODLQWKHUHODWLRQVKLS
RUGLIIHUHQFHV
EHWZHHQJRYHUQPHQWDO IXQGVDQGJRYHUQPHQWDODFWLYLWLHVIROORZWKH JRYHUQPHQWDOIXQGVWDWHPHQWV

x 3URSULHWDU\IXQGVWDWHPHQWVSURYLGHLQIRUPDWLRQDERXWWKHVHUYL FHVIRUZKLFKFXVWRPHUIHHVDUHLQWHQGHGWR ILQDQFHWKHFRVWVRIRSHUDWLRQV3URSULHWDU\IXQGVWDWHPHQWVO LNHWKHJRYHUQPHQWZLGHVWDWHPHQWVSURYLGH VKRUWWHUPDQGORQJWHUPILQDQFLDOLQIRUPDWLRQDERXWWKHDFWLYL WLHVWKH&LW\RSHUDWHVOLNHEXVLQHVVHVVXFKDV XWLOLW\VHUYLFHV

x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¶VILGXFLDU\DFWLYLWLHVDUHUHSRUWHGLQDVHSDUDWHVWDWHPHQWRIILGXFLDU\QHWSRVLWLRQDQGDVWDWHPHQW RIFKDQJHVLQILGXFLDU\QHWSRVLWLRQ:HH[FOXGHWKHVHDFWLYLWLHVIURPWKH&LW\¶VJRYHUQPHQWZLGHILQDQFLDO VWDWHPHQWVEHFDXVHWKH&LW\FDQQRWXVHWKHVHUHVRXUFHVWRILQDQFHLWVRSHUDWLRQV 
6 CITY OF ROSEVILLE
MANAGEMENT’S DISCUSSION AND ANALYSIS
FOR THE YEAR ENDED JUNE 30, 2023

FINANCIAL ANALYSIS OF THE GOVERNMENT-WIDE STATEMENTS
This analysis focuses on the City’s net position and changes of its governmental and business-type activities for the fiscal year ending June 30, 2023.

The larges
t portion of the City’s net position is the net inves tment in capital assets category totaling $3.0 billion. This category reports capital assets less any rel ated outstanding debt that the City used to acquire those assets. The City uses these capital assets to provide services to its residents and businesses. 2023 2022 2023 2022 2023 2022
Assets
$ 482.3 $ 418.5 $ 431.3 $ 476.5 $ 913.6 $ 895.0 145.7 126.6 302.0 272.9 447.7 399.5 1,195.5 1,135.6 1,968.8 1,917.1 3,164.3 3,052.7 1,823.5 1,680.7 2,702.1 2,666.5 4,525.6 4,347.2

96.6 52.3 56.4 38.6 153.0 90.9

18.9 18.4 269.7 298.3 288.6 316.7 416.9 309.7 248.7 230.6 665.6 540.3 435.8 328.1 518.4 528.9 954.2 857.0

47.7 98.5 75.4 119.3 123.1 217.8 1,173.2 1,117.1 1,780.5 1,715.9 2,953.7 2,833.0 305.3 270.5 28.4 42.5 333.7 313.0 (41.9) (81.2) 355.8 298.5 313.9 217.3 $ 1,436.6 $ 1,306.4 $ 2,164.7 $ 2,056.9 $ 3,601.3 $ 3,363 .3 Total Net Position Other liabilities
Total Liabilities
Deferred Inflows of Resources
Net Position
Net
investment in capital assets
Restricted
Cash and investments
Governmental
Activ ities
(in millions)
Unrestricted
Deferred Outflows of Resources
Long-term debt outstanding
Liabilities
Other assets
Capital assets
Total Assets
Table 1
Statement of Net Position - Primary Government
As of June 30, 2023 and 2022
Business-type
Activ ities Total
7 CITY OF ROSEVILLE
MANAGEMENT’S DISCUSSION AND ANALYSIS
FOR THE YEAR ENDED JUNE 30, 2023
The restricted portion of the Ci ty’s net position of $334 million represents resources that are restricted for use by external sources. The remaining net position of $299 million is unrestricted and can be used to meet the ongoing obligations of the City, subject to the purpose of the individual funds in which it is held.

Governmental Activities
Government Activities – Net Position
This analysis focu
ses on the net position and changes in net position of the City’s governmental activities, presented in the Government-wide Statement of Net Position and Statement of Activities.

The City’s governmental activities net position increased by $130 million to $1.4 billion as of June 30, 2023, primarily due to increases in assets and deferred outflows of resources and decreases in deferred inflows of resources, partly offset by increases in liabilities. Cash and investments increased primarily due to collection of development impact fees from new development. Other a ssets increased primarily due to new lease receivables for two new digital billboards. The increase in capital assets is mainly related to the acquisition and construction of infrastructure improvements. The increase in deferred outflows of resources and liabilities, and the decrease in deferred inflows of resources, is primarily attributable to pensions due to a si gnificant negative return in fiscal year 2022. The changes resulting from the 2022 negative return is discussed in detail in Note 13 to the financial statements. 2023 2022
Increas e/
Decreas e
Asse ts
$ 482.3 $ 418.5 $ 63.8
145.7 126.6 19.1
1,195.5 1,135.6 59.9
1,823.5 1,680.7 142.8

96.6 52.3 44.3
Liabilities

18.9 18.4 0.5
416.9 309.7 107.2
435.8 328.1 107.7

47.7 98.5 (50.8)
Net Position
1,173.2 1,117.1 56.1
305.3 270.5 34.8
(41.9) (81.2) 39.3
$ 1,436.6 $ 1,306.4 $ 130.2
Table 2
Statement of Net Position - Governmental Activities
(in millions)
Other liabilities
Total Liabilities
Other assets
Total Assets
Cash and inv estments
As of June 30, 2023 and 2022
Deferred Outflows of Resources
Total Net Position
Net inv estment in capital assets
Capital assets
Long-term debt outstanding
Unrestricted
Restricted
Deferred Inflows of Resources
8 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(



&KDUJHVIRUVHUYLFHVZKLFKLQFOXGHSHUPLWUHYHQXHVIHHVDQGFKDUJHVXVHGWRIXQGH[SHQVHVLQFXUUHGLQSURYLGLQJ VHUYLFHVLQFUHDVHGE\
PLOOLRQWRPLOOLRQGXHWRVWU RQJGHYHORSPHQWDFWLYLW\DQGUHFUHDWLRQSURJUDPV UHFRYHULQJIURPWKHSDQGHPLF2SHUDWLQJJUDQWVDQGFRQWULEXWLRQVZKLFKLQFOXGHFRPPXQLW\GHYHORSPHQWSXEOLF ZRUNVDQGSXEOLFVDIHW\FRQWULEXWLRQVDQGJUDQWVGHFUHDVHGE\ PLOOLRQWRPLOOLRQ&DSLWDOJUDQWVDQG FRQWULEXWLRQVZKLFKFRQVLVWPDLQO\RIFRPPXQLW\IDFLOLW\GLVWU LFWERQGSURFHHGVGHFOLQHGE\PLOOLRQWR PLOOLRQGXHWRVLJQLILFDQWO\IHZHUDQGVPDOOHUERQGLVVXHVLQ  
,QFUHDVH
'HFUHDVH
 
 

  


  



  




  
)UDQFKLVH)HHV   








 
 


  


 
 



  


  


  
(FRQRPLFGHYHORSPHQW    
  
  


  


  


 
 

 
 
  


  





 
 
7UDQVIHUV 
  
 
 
1HW3RVLWLRQ%HJLQQLQJ   

 

5HVWDWHPHQW    1HW3RVLWLRQ(QGLQJ     7DEOH
&KDQJHVLQ1HW3RVLWLRQ*RYHUQPHQWDO$FWLYLWLHV
$VRI-XQHDQG

LQPLOOLRQV

7RWDO5HYHQXHV
8VHRIPRQH\DQGSURSHUW\
0LVFHOODQHRXV
&KDQJHVLQ1HW3RVLWLRQDIWHU7UDQVIHUV
)LUH
/LEUDU\
3DUNVDQGUHFUHDWLRQ
+RXVLQJDVVLVWDQFHSD\PHQWV
,QWHUHVWRQORQJWHUPGHEW
7RWDO([SHQVHV
$QQH[DWLRQSD\PHQWV
3ROLFH
&KDQJHVLQ1HW3RVLWLRQEHIRUH7UDQVIHUV
([SHQVHV
*HQHUDOJRYHUQPHQW
'HYHORSPHQWVHUYLFHV
3XEOLFZRUNV
7RWDO*HQHUDO5HYHQXHV
5HYHQXHV
3URJUDP5HYHQXHV
&KDUJHVIRUVHUYLFHV
2SHUDWLQJFRQWULEXWLRQVDQGJUDQWV
&DSLWDOFRQWULEXWLRQVDQGJUDQWV
7RWDO3UR
JUDP5HYHQXHV
*HQHUDO5HYHQXHV
7D[HV
9 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(

*HQHUDOUHYHQXHVFRPSULVHGPDLQO\RISURSHUW\DQGVDOHVWD[HV LQFUHDVHGE\PLOOLRQFRPSDUHGWR :KLOHSURSHUW\WD[UHYHQXHVLQFUHDVHGGXHWRKLJKHUDVVHVVHGSURSHUW\YDOXHVDQGGHYHORSPHQWDFWLYLW\VDOHVWD[ UHYHQXHZDVIODWGXHWRFKDQJHVLQFRQVXPHUEHKDYLRUDQGVRIWHQ LQJRIYHKLFOHDQGIXHOSULFHV7KH&LW\¶V727 UHYHQXHZDVXSPLOOLRQGXHWRWKHSDVVDJHRI0HDVXUH&7KHXVHRIPRQH\DQGSURSHUW\ZDVVOLJKWO\QHJDWLYH LQFRPSDUHGWRWKHPLOOLRQQHJDWLYHLQGXHWRWKHWHPSRUDU\PDUNHWYDOXHDGMXVWPHQWRQWKH&LW\¶V ERQGSRUWIROLREHFDXVHWKHYDOXHRIERQGVRZQHGGHFOLQHVZKHQLQWHUHVWUDWHVULVH%HFDXVHJHQHUDOUHYHQXHVDUH QRWDOORFDEOHWRVSHFLILFSURJUDPVWKH&LW\XVHVWKHPWRSD\WKHQHWFRVWRIJRYHUQPHQWDOSURJUDPV 
7RWDOH[SHQVHVIRUJRYHUQPHQWDODFWLYLWLHVGHFUHDVHGE\PLOOLRQFRPSDUHGWRWKHSULRU\HDUSULPDULO\UHODWHG WRWKHUHGXFHGERQGDFWLYLW\IURPFRPPXQLW\IDFLOLW\GLVWULFWVLQUHVXOWLQJLQIHZHUUHLPEXUVHPHQWVWRGHYHORSHUV IRULQIUDVWUXFWXUH

*RYHUQPHQWDO$FWLYLWLHV±)XQFWLRQDO([SHQVHV

7KHIXQFWLRQDOH[SHQVHVFKDUWEHORZLQFOXGHVRQO\FXUUHQW\HDUH[SHQVHVIRUJRYHUQPHQWDODFWLYLWLHV 



&DSLWDORXWOD\LVH[FOXGHGIURPIXQFWLRQDOH[SHQVHVEHFDXVHWKH \DUHDGGHGWRWKH&LW\ VFDSLWDODVVHWVDQG
GHSUHFLDWHGRYHUWKHXVHIXOOLYHVRIWKHDVVHWV$VWKHFKDUWU HIOHFWVSROLFHZDV PLOOLRQ
RIWRWDO
JRYHUQPHQWDODFWLYLWLHVH[SHQVHV
ILUHZDV
PLOOLRQ

SDUNVDQGUHFUHDWLRQZDV

PLOOLRQ


GHYHORSPHQWVHUYLFHVZDV

PLOOLRQ

SXEOLFZRUNVZDV

PLOOLRQ

JHQHUDOJRYHUQPHQWZDV

PLOOLRQ

DQGWKHUHPDLQGHUZDVIRURWKHUJRYHUQPHQWDOSURJUDPVDQGIXQFWLRQVDVVKRZQDERYH ϭϭ͘Ϯй
ϮϬ͘ϳй
ϭϲ͘ϴй
ϭ͘ϲй
ϭϳ͘Ϭй
ϵ͘ϴй
Ϯ͘ϭй
ϭϬ͘ϵй
ϰ͘ϴй
ϯ͘ϳй
*HQHUDOJRYHUQPHQW
3ROLFH
)LUH
(FRQRPLFGHYHORSPHQW
3DUNVDQGUHFUHDWLRQ
3XEOLFZRUNV
/LEUDU\
'HYHORSPHQWVHUYLFHV
$QQH[DWLRQSD\PHQWV
+RXVLQJDVVLVWDQFHSD\PHQWV
,QWHUHVWRQORQJWHUPGHEW
10 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(

%XVLQHVVW\SH$FWLYLWLHV

7KH6WDWHPHQWRI1HW3RVLWLRQDQG6WDWHPHQWRI$FWLYLWLHVSUHVHQWDVXPPDU\RIWKH&LW\¶VEXVLQHVVW\SHDFWLYLWLHV WKDWDUHFRPSRVHGRIWKH&LW\¶VHQWHUSULVHIXQGV



7KHQHWSRVLWLRQRIEXVLQHVVW\SHDFWLYLWLHVDPRXQWHGWR PLOOLRQLQILVFDO\HDUDQLQFUHDVHRI PLOOLRQIURPILVFDO\HDUSULPDULO\GXHWRDQLQFUHDVHLQFDSLWDODVVHWVUHODWHGWRWKHDFTXLVLWLRQDQG FRQVWUXFWLRQRILQIUDVWUXFWXUHLPSURYHPHQWVDQGLQFUHDVHVLQGHIHUUHGRXWIORZVRIUHVRXUFHVDQGOLDELOLWLHVDQGWKH GHFUHDVHLQGHIHUUHGLQIORZVSULPDULO\UHODWHGWRSHQVLRQVGXHWRDVLJQLILFDQWQHJDWLYHUHWXUQLQILVFDO\HDU    ,QFUHDVH
'HFUHDVH
$VVHWV
&DVKDQGLQYHVWPHQWV      

2WKHUDVVHWV  
 
 
&DSLWDODVVHWV 
 
  
7RWDO$VVHWV    
'HIHUUHG2XWIORZVRI5HVRXUFHV      /LDELOLWLHV
/RQJWHUPGHEWRXWVWDQGLQJ 
 



2WKHUOLDELOLWLHV     7RWDO/LDELOLWLHV  



'HIHUUHG,QIORZVRI5HVRXUFHV  




1HW3RVLWLRQ
1HWLQYHVWPHQWLQFDSLWDODVVHWV  
  
5HVWULFWHG  


8QUHVWULFWHG  
  
7RWDO1HW3RVLWLRQ  
  
7DEOH
6WDWHPHQWRI1HW3RVLWLRQ%XVLQHVVW
\SH$FWLYLWLHV

LQPLOOLRQV

$VRI-XQHDQG
11 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(



%XVLQHVVW\SHSURJUDPUHYHQXHVDQGJHQHUDOUHYHQXHVWRWDOHGPLOOLRQZKLOHEXVLQHVVW\SHH[SHQVHVDQG WUDQVIHUVRXWZHUH
PLOOLRQLQ&DSLWDOFRQWULEXWLRQ UHYHQXHZDVORZHUWKDQWKHSULRU\HDUGXHWRD GHFUHDVHLQLQIUDVWUXFWXUHGHGLFDWLRQVIXQGHGE\GHYHORSHUVLQQHZJURZWKDUHDV8VHRIPRQH\DQGSURSHUW\ZDV KLJKHUWKDQWKHSULRU\HDUGXHWRWKHWHPSRUDU\PDUNHWYDOXHDG MXVWPHQWRQWKH&LW\¶VERQGSRUWIROLR0DMRU HQWHUSULVHIXQGDFWLYLW\LVGLVFXVVHGLQWKH3URSULHWDU\)XQGVVHFWLRQEHORZ 
 
,QFUHDVH
'HFUHDVH

  
  


 
 


  


 


  


 



 




  

  


  
  


  
  

  


  
  
  



7UDQVIHUV 







  



1HW3RVLWLRQ%HJLQQLQJ 
 

 
1HW3RVLWLRQ(QGLQJ  
  
7RWDO([SHQVHV
&KDQJHVLQ1HW3RVLWLRQEHIRUH7UDQVIHUV
&KDQJHVLQ1HW3RVLWLRQDIWHU7UDQVIHUV
:DVWHZDWHU
:DVWHVHUYLFHV
5RVHYLOOH1DWXUDO*DV)LQDQFLQJ$XWKRULW\
/RFDOWUDQVSRUWDWLRQ
6FKRRODJHFKLOGFDUH
0LVFHOODQHRXV
7RWDO5HYHQXHV
([
SHQVHV
(OHFWULF
:DWHU
7RWDO*HQHUDO5HYHQXHV
7DEOH
&KDQ
JHVLQ1HW3RVLWLRQ%XVLQHVVW\SH$FWLYLWLHV
$VRI-XQHDQG

LQPLOOLRQV

5HYHQXHV
3URJUDP5HYHQXHV
&KDUJHVIRUVHUYLFHV
2SHUDWLQJFRQWULEXWLRQVDQGJUDQWV
&DSLWDOFRQWULEXWLRQVDQGJUDQWV
7RWDO3UR
JUDP5HYHQXHV
*HQHUDO5HYHQXHV
8VHRIPRQH\DQGSURSHUW\
*DLQ
/RVV
RQVDOHRIFDSLWDODVVHW
12 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(

),1$1&,$/$1$/<6,62)7+()81'67$7(0(176

*RYHUQPHQWDO)XQGV

7KH&LW\¶VJRYHUQPHQWDOIXQGVSURYLGHLQIRUPDWLRQRQQHDUWHUPLQIORZVRXWIORZVDQGEDODQFHVRIVSHQGDEOH UHVRXUFHV
General Fund

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
7RWDOUHYHQXHVZHUHKLJKHUWKDQWKHILQDOEXGJHWE\ PLOOLR Q7D[HVZHUHPRUHWKDQEXGJHWE\PLOOLRQ SULPDULO\GXHWR


x %UDGOH\%XUQVVDOHVWD[UHYHQXHHQGHGWKH\HDUEHORZWKHEXGJHWHVWLPDWHE\PLOOLRQZKLOHWKHORFDO 0HDVXUH%VDOHVWD[UHYHQXHZDVPLOOLRQDERYHWKHEXGJHWHGDPRXQW x 3URSHUW\WD[UHYHQXHZDV
PLOOLRQKLJKHUWKDQEXGJHWGXHWR FRQWLQXHGJURZWKLQWKH&LW\H[FHHGLQJ SURMHFWLRQVDQGLQFUHDVLQJDVVHVVHGSURSHUW\YDOXHV
x 727UHYHQXHHQGHGDSSUR[LPDWHO\PLOOLRQDERYHEXGJHWGXHWRWKHEXGJHWQRWEHLQJXSGDWHGDIWHU WKHSDVVDJHRI0HDVXUH&
x &KDUJHVIRUVHUYLFHVUHYHQXHHQGHGWKHKLJKHUWKDQWKHILQDOEXGJHWE\PLOOLRQSULPDULO\DWWULEXWDEOH WRGHYHORSPHQWUHODWHGUHYHQXHFROOHFWHGE\WKH'HYHORSPHQW6HUYLFHV'HSDUWPHQW 
*HQHUDO)XQGH[SHQGLWXUHVLQFUHDVHGE\PLOOLRQIURPWKHSULRU\HDUSULPDULO\FDXVHGE\LQFUHDVHVLQSROLFH GHYHORSPHQWVHUYLFHVSDUNVDQGUHFUHDWLRQDQGPRVWRWKHUGHSD UWPHQWV*HQHUDOJRYHUQPHQWH[SHQGLWXUHVDUH KLJKHUGXHWRODERUFRVWVLQFUHDVHVLQFOXGLQJVDODULHVKHDOWK EHQHILWVDQGSHQVLRQFRVWVDVZHOOQHZSRVLWLRQV DGGHGLQWKHEXGJHWLQFOXGLQJLQSROLFHLQGHYHORSPHQWVHUYLFHVDQGLQSDUNVDQGUHFUHDWLRQ 

ϭϭ͘ϱй
ϭϭ͘ϱй Ϭ͘ϱй
ϰ͘ϱй
Ϯϳ͘ϵй
Ϯϭ͘ϱй
Ϯ͘ϳй
ϭϮ͘ϲй
ϱ͘ϭй Ϯ͘ϯй

džƉĞŶĚŝƚƵƌĞƐ
'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚ
ĞǀĞůŽƉŵĞŶƚ^ĞƌǀŝĐĞƐ

ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚ
WƵďůŝĐǁŽƌŬƐ
WŽůŝĐĞ
&ŝƌĞ
>ŝďƌĂƌLJ
WĂƌŬƐĂŶĚƌĞĐƌĞĂƚŝŽŶ
13 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(

$OO*HQHUDO)XQGGHSDUWPHQWVHQGHGWKH\HDUZLWKLQWKHLUDSSURS ULDWHGH[SHQGLWXUHEXGJHWV7RWDOH[SHQGLWXUHV ZHUHORZHUWKDQWKHILQDOEXGJHWE\PLOOLRQZLWKWKHIROORZLQJPDMRUGULYHUV 

x 0XOWL\HDUFDSLWDOSURMHFWEXGJHWVDUHLQFHSWLRQWRGDWHEXGJHWVIRUSURMHFWVWKDWPD\WDNHVHYHUDO\HDUVWR FRPSOHWHUHVXOWLQJLQVLJQLILFDQWEXGJHWWRDFWXDOYDULDQFHVIRUEXGJHWVWKDWUROOIRUZDUGWR x 9DFDQF\VDYLQJVLQPRVW*HQHUDO)XQGGHSDUWPHQWVJHQHUDWHGVLJQLILFDQWEXGJHWVDYLQJVGXULQJSHULRGVZKHQ SRVLWLRQVZHUHLQWKHUHFUXLWPHQWSKDVH

$VRI-XQHWKH*HQHUDO)XQG¶VIXQGEDODQFHWRWDOHGPLOOLRQLQFOXGLQJPLOOLRQQRQVSHQGDEOH IXQGEDODQFHSULPDULO\IRUQRWHVUHFHLYDEOH

PLOOLRQFRP PLWWHGIRUHPHUJHQF\DQGHFRQRPLFVWDELOL]DWLRQ UHVHUYHVPLOOLRQFRPPLWWHGIRUWKH&LW\¶VQHZSHQVLRQWUXVWIXQG PLOOLRQFRPPLWWHGIRUFDSLWDOSURMHFWV
PLOOLRQDVVLJQHGIXQGEDODQFHDQGWKHEDODQFHRIPLOOLRQFRQVLGHUHGXQDVVLJQHG2QO\WKHXQDVVLJQHG SRUWLRQRIIXQGEDODQFHUHSUHVHQWVDYDLODEOHUHVRXUFHVVLQFHWKHQRQVSHQGDEOHDVVLJQHGDQGFRPPLWWHGSRUWLRQV RIWKHIXQGEDODQFHLVUHSUHVHQWHGE\QRQFDVKDVVHWVFRQWUDFW VRSHQSXUFKDVHRUGHUVFDSLWDOSURMHFWVDQG &RXQFLODGRSWHGUHVHUYHV+RZHYHUWKHXQDVVLJQHGIXQGEDODQFHDOVRLQFOXGHVWKHVWUDWHJLFLPSURYHPHQWIXQGV DQGRWKHU&RXQFLODGRSWHGUHVHUYHV

Non-Major Governmental Funds
7KH UHVW RI WKH &LW\¶V JRYHUQPHQWDO IXQGV DUH SUHVHQWHG LQ WKH EDVLF ILQDQFLDO VWDWHPHQWV DV QRQPDMRU JRYHUQPHQWDOIXQGVDVUHTXLUHGE\JHQHUDOO\DFFHSWHGDFFRXQWLQJ SULQFLSOHV7KH\DUHLQGLYLGXDOO\SUHVHQWHGDV VXSSOHPHQWDOLQIRUPDWLRQ

3URSULHWDU\)XQGV

Electric Fund
1HWSRVLWLRQRIWKH(OHFWULF)XQGLQFUHDVHGPLOOLRQLQILVFDO\HDUSULPDULO\GXHWRDQLQFUHDVHLQFDSLWDO FRQWULEXWLRQV'HEWGHFUHDVHGGXULQJWKHILVFDO\HDUE\ PLOOLRQSULPDU\GXHWRWKHIXQGSD\LQJRIIPLOOLRQ RIGLUHFWSODFHPHQWGHEWZKLFKZDVWKHPDMRUUHDVRQIRUWKHFDVKDQGLQYHVWPHQWVGHFUHDVHRI PLOOLRQ$V
RI-XQHWKHIXQG¶VQHWSRVLWLRQZDV
PLOOLRQRIZKLFKPLOOLRQZDVLQYHVWHGLQFDSLWDODVVHWV 
PLOOLRQZDVUHVWULFWHGIRUGHEWVHUYLFH
PLOOLRQZDVUHVWULFWHGIRUWKHVXVWDLQDEOHHQHUJ\SURJUDP DQG

PLOOLRQZDVXQUHVWULFWHGDVWRXVH

Water Fund
1HWSRVLWLRQRIWKH:DWHU)XQGLQFUHDVHGPLOOLRQLQILVFD O\HDUSULPDULO\GXHWRDQLQFUHDVHLQFDSLWDO DVVHWVRI
PLOOLRQDQGFDSLWDOFRQWULEXWLRQV$VRI-XQHWKHIXQG¶VQHWSRVLWLRQZDVPLOOLRQRI ZKLFKPLOOLRQZDVLQYHVWHGLQFDSLWDODVVHWV
PLOOLRQZDVUHVWULFWHGIRUGHEWVHUYLFH
DQGPLOOLRQ
ZDVXQUHVWULFWHGDVWRXVH
Wastewater Fund
1HWSRVLWLRQRIWKH:DVWHZDWHU)XQGLQFUHDVHGPLOOLRQLQILVFDO\HDUSULPDULO\GXHWRDQLQFUHDVHLQ FDSLWDODVVHWVRIPLOOLRQFDSLWDOFRQWULEXWLRQVDQGDQLQFUHDVHLQFDVKDQGLQYHVWPHQWVRI PLOOLRQ$V
RI-XQHWKHIXQG¶VQHWSRVLWLRQZDVPLOOLRQRIZKLFK PLOOLRQZDVLQYHVWHGLQFDSLWDODVVHWV

PLOOLRQZDVUHVWULFWHGIRUGHEWVHUYLFH
DQGPLOOLRQZDVXQUHVWULFWHGDVWRXVH

Waste Services Fund
1HWSRVLWLRQRIWKH:DVWH6HUYLFHV)XQGLQFUHDVHGE\PLOOLRQLQILVFDO\HDUSULPDULO\GXHWRDQLQFUHDVHLQ FKDUJHVIRUVHUYLFHVRIPLOOLRQUHVXOWLQJIURPDUDWHLQFU HDVHWRVXSSRUWWKHFKDQJHVPDQGDWHGE\VWDWH 6HQDWH%LOOWRGLYHUWRUJDQLFZDVWHIURPODQGILOOVDQGWUD QVIHUULQJRXWIRUIOHHWHOHFWULILFDWLRQ$VRI-XQH WKHIXQG¶VQHWSRVLWLRQZDVPLOOLRQRIZKLFKPLOOLRQZDVLQYHVWHGLQFDSLWDODVVHWVDQG PLOOLRQZDVXQUHVWULFWHGDVWRXVH

14 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(

Roseville Natural Gas Financing Authority
7KLVIXQGZDVFUHDWHGDVWKHILQDQFLQJPHFKDQLVPWRSXUFKDVHSUHSDLGQDWXUDOJDVIRUWKH5RVHYLOOH(QHUJ\3DUN DQHOHFWULFSRZHUSODQWWKURXJKWKHLVVXDQFHRIUHYHQXHERQGV %RQGVSD\DEOHWRWDOLQJPLOOLRQUHPDLQGXH ZKLOHWKHEDODQFHRISUHSDLGQDWXUDOJDVDW-XQHZDV  PLOOLRQ1HWSRVLWLRQRIWKH5RVHYLOOH1DWXUDO
*DV)LQDQFLQJ$XWKRULW\)XQGLQILVFDO\HDUZDVPLOOLRQZKLFKLVXQUHVWULFWHGDVWRXVH 
Non-Major Enterprise Funds
7KHUHPDLQLQJHQWHUSULVHIXQGVDUHSUHVHQWHGLQWKHEDVLFILQDQ FLDOVWDWHPHQWVDVQRQPDMRUHQWHUSULVHIXQGVDV UHTXLUHGE\JHQHUDOO\DFFHSWHGDFFRXQWLQJSULQFLSOHV7KH\DUHLQGLYLGXDOO\SUHVHQWHGDVVXSSOHPHQWDOLQIRUPDWLRQ 
&$3,7$/$66(76

$VRI-XQHWKH&LW\KDGLQYHVWHGELOOLRQLQDEURDGUDQJHRIFDSLWDODVVHWVLQFOXGLQJODQGEXLOGLQJV YHKLFOHVSDUNVDQGSDUNLPSURYHPHQWVURDGVEULGJHVDQGZDWHUZDVWHZDWHUDQGVWRUPGUDLQDJHWUDQVPLVVLRQDQG GLVWULEXWLRQV\VWHPVDVZHOODVWKHHOHFWULFJHQHUDWLRQDQGGLVWULEXWLRQV\VWHP&XUUHQW\HDUFDSLWDODVVHWDGGLWLRQV RI
PLOOLRQZHUHRIIVHWE\FXUUHQW\HDUGHSUHFLDWLRQH[SHQVHRIPLOOLRQDQGUHWLUHPHQWVRIPLOOLRQ IRUDQHWLQFUHDVHLQFDSLWDODVVHWVRIPLOOLRQ7KHWDEOHEHORZSUHVHQWVDVXPPDU\RIWKH&LW\¶VFDSLWDODVVHWV IRUJRYHUQPHQWDODQGEXVLQHVVW\SHDFWLYLWLHV


15 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(

 
,QFUHDVH
'HFUHDVH
*RYHUQPHQWDO$FWLYLWLHV
/DQGDQG(DVHPHQWV 
  
6WUHHWV
PRGLILHGDSSURDFK
  

&RQVWUXFWLRQLQSURJUHVV
  
%XLOGLQJV   
,PSURYHPHQWV  
 
9HKLFOHV (TXLSPHQW 

 

3DUNV   
/DQGVFDSLQJ   
%LNHSDWKV   
%ULGJHV   
&XOYHUWV   
&XUEJXWWHUVLGHZDONDQGPHGLDQFXUEV 
 
  
'UDLQLQOHWV   
6RXQGZDOO   
6WRUPGUDLQV   
7UDIILF6LJQDOV   
5LJKWWRXVHOHDVHGDVVHWV   
/HVV
DFFXPXODWHGGHSUHFLDWLRQ






*RYHUQPHQWDO$FWLYLW\&DSLWDO$VVHWV1HW 
  
 
,QFUHDVH
'HFUHDVH
%XVLQHVV7\SH$FWLYLWLHV
/DQG 
  
   
6WUHHWV
0RGLILHG
   
&RQVWUXFWLRQLQSURJUHVV  
  
%XLOGLQJV    
,PSURYHPHQWV    
9HKLFOHVDQGHTXLSPHQW    
/DQGVFDSLQJ    
%LNHSDWKV    
%ULGJHV    
&XOYHUWV    
&XUEJXWWHUVLGHZDONDQGPHGLDQFXUEV     'UDLQ,QOHWV  


6WRUP'UDLQV  


7UDIILFVLJQDOV    
3ODQWDQGVXEVWDWLRQV 
 
  
'LVWULEXWLRQ  
  
*HQHUDWLRQ    
/HVV
DFFXPXODWHGGHSUHFLDWLRQ








%XVLQHVV7\SH$FWLYLW\&DSLWDO$VVHWV1HW 
  
  

7DEOH
&D
SLWDO$VVHWV

LQPLOOLRQV

$VRI-XQHDQG
16 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(

'HWDLORQFDSLWDODVVHWVFXUUHQW\HDUDGGLWLRQVFRQVWUXFWLRQ LQSURJUHVVDQGGHSUHFLDEOHOLYHVFDQEHIRXQGLQ 1RWHWRWKHILQDQFLDOVWDWHPHQWV

7KH&LW\GHSUHFLDWHVDOOLWVFDSLWDODVVHWVRYHUWKHLUHVWLPDWHGXVHIXOOLYHVH[FHSWIRUVWUHHWVZKLFKDUHUHSRUWHG XVLQJWKHPRGLILHGDSSURDFK7KHSXUSRVHRIGHSUHFLDWLRQLVWRVSUHDGWKHFRVWRIDFDSLWDODVVHWRYHUWKH\HDUVRI LWVXVHIXOOLIHVRWKDWDQDOORFDEOHSRUWLRQRIWKHFRVWRIWKHDVVHWLVERUQHE\DOOXVHUV7KHPRGLILHGDSSURDFKUHTXLUHV WKH&LW\WRHPSOR\DQDVVHWPDQDJHPHQWV\VWHPWKDWPDLQWDLQVD FXUUHQWLQYHQWRU\RIWKHVHDVVHWVHVWLPDWHV DQQXDOFRVWVWRPDLQWDLQWKHPDQGDVVHVVHVWKHFRQGLWLRQRIWKHDVVHWVLQDUHSOLFDEOHZD\ 
7KH&LW\XVHVDFRPSXWHUL]HGSDYHPHQWPDQDJHPHQWV\VWHPWRWUDF NWKHFRQGLWLRQOHYHOVRIHDFKRIWKHVWUHHW VHFWLRQV 7KH&LW\¶VSROLF\EDVHGRQFXUUHQWIXQGLQJLVWRPDLQWDLQDUWHULDODQGFROOHFWRUURDGZD\VDWDQDYHUDJH 3DYHPHQW4XDOLW\,QGH[
34,
RIDQGUHVLGHQWLDOURDGZD\VDWDQDYHUDJH34,RIEDVHGRQDVWXG\FRQGXFWHG HYHU\WKUHH\HDUV7KLVSROLF\DOORZVIRUPLQRUFUDFNLQJDQGUHYHDOLQJRIWKHSDYHPHQWDORQJZLWKPLQRUURXJKQHVV WKDWFRXOGEHQRWLFHDEOHWRGULYHUVWUDYHOLQJDWSRVWHGVSHHG 
2Q-XQHWKH&LW\¶VVWUHHWVDYHUDJHG
34,IRUDUWHULDODQGFROOHFWRUURDGZD\VDQG34,IRUUHVLGHQWLDO URDGZD\V7KH&LW\H[SHQGHG
PLOOLRQRQSUHVHUYDWLRQRILW VVWUHHWVLQILVFDO\HDUFRPSDUHGWRWKH EXGJHWHGDPRXQWRI
PLOOLRQ

'(%7$'0,1,675$7,21

7KH&LW\PDGHDOOVFKHGXOHGUHSD\PHQWVRIH[LVWLQJGHEW7KH&L W\FRQWLQXHGWRGUDZRQLWVVWDWHUHYROYLQJIXQG ORDQIRUWKH3OHDVDQW*URYH:DVWHZDWHU7UHDWPHQW3ODQW([SDQVLR QDQG(QHUJ\5HFRYHU\3URMHFWV(DFKRIWKH &LW\¶VGHEWLVVXHVLVGLVFXVVHGLQGHWDLOLQ1RWH
WRWKHILQDQFLDOVWDWHPHQWV$VRI-XQHWKH&LW\¶VGHEW SRUWIROLRFRPSULVHG




17 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(



 
,QFUHDVH
'HFUHDVH
*RYHUQPHQWDO$FWLYLW\'HEW
/HDVH
3XEOLF)DFLOLWLHV5HIXQGLQJGXH     

&HUWLILFDWHVRI3DUWLFLSDWLRQ
9HUQRQ6WUHHW3URMHFWGXH    


$GG
GHIHUUHGGHEWSUHPLXP    


7RWDO*RYHUQPHQWDO$FWLYLW\'HEW     

%XVLQHVVW\SH$FWLYLW\'HEW
/RDQV
6WDWH5HYROYLQJ)XQG/RDQVGXH    
7RWDOORDQV   
  
'LUHFW3ODFHPHQW&HUWLILFDWHVRI3DUWLFLSDWLRQ
(OHFWULF6\VWHP5HYHQXH5HIXQGLQJYDULDEOHUDWHGXH   

7RWDOGLUHFWSODFHPHQWGHEW   

&HUWLILFDWHVRI3DUWLFLSDWLRQ
:DWHU8WLOLW\5HYHQXH5HIXQGLQJGXH  


$GGGHIHUUHGERQGSUHPLXP   

7RWDOFHUWLILFDWHVRISDUWLFLSDWLRQ   

5HYHQXH%RQGV
*DV5HYHQXH%RQGV
GXH 
 


$GG
GHIHUUHGERQGSUHPLXP 
 


(OHFWULF6\VWHP5HYHQXH5HIXQGLQJ
GXH
 




$GG
GHIHUUHGERQGSUHPLXP  


$(OHFWULF6\VWHP5HYHQXH5HIXQGLQJ
GXH  


$GG
GHIHUUHGERQGSUHPLXP  


5HIXQGLQJ(OHFWULF6\VWHP5HYHQXH%RQGV

GXH  


7RWDO5HYHQXH%RQGV  



7RWDO%XVLQHVVW\SH$FWLYLW\'HEW  



7DEOH
2XWVWDQGLQ
J'HEW

LQPLOOLRQV

$VRI-XQHDQG
18 &,7<2)526(9,//(
0$1$*(0(17¶6',6&866,21$1'$1$/<6,6
)257+(<($5(1'('-81(

(&2120,&)$&7256$1'1(;7<($5¶6%8'*(7

(FRQRPLF)DFWRUV

'HYHORSPHQWDFWLYLW\UHPDLQVVWURQJLQPRVWVHFWRUVLQWKH&LW\ KRZHYHUVLQJOHIDPLO\KRXVLQJGHYHORSPHQW FRQWLQXHVWRQRUPDOL]HDIWHUWKHSRVWSDQGHPLFVSLNH,QILVFDO \HDU5RVHYLOOHLVVXHGVLQJOHIDPLO\ UHVLGHQWLDOEXLOGLQJSHUPLWVDVLJQLILFDQWGHFUHDVHFRPSDUHGW R LQWKHSULRU\HDUEXWFORVHUWRLWVKLVWRULFDO
DYHUDJHRI
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
1H[W<HDU¶V%XGJHW

7RWDOQHWDSSURSULDWLRQVLQWKHILVFDO\HDUEXGJHWDUH PLOOLRQRIZKLFK*HQHUDO)XQGEXGJHW DSSURSULDWLRQVDUH
PLOOLRQDQLQFUHDVHRIOHVVWKDQRQH SHUFHQWFRPSDUHGWRWKHILVFDO\HDU DSSURYHGEXGJHWEHFDXVHLWLQFOXGHGDSSURSULDWLRQVWRVSHQGWKHILVFDO\HDU\HDUHQGEXGJHWVXUSOXV7KH DSSURYHG ILVFDO \HDU  *HQHUDO )XQG EXGJHW LQFRUSRUDWHV WKH FRVWV RI WKH &LW\¶V QHJRWLDWHG ODERU DJUHHPHQWVLQFOXGLQJHVWLPDWHVIRUDJUHHPHQWVQHJRWLDWHGLQID OODQGXQDYRLGDEOHFRVWLQFUHDVHVLQRWKHU VSHQGLQJFDWHJRULHVEXWLWLQFOXGHVRQO\WKHPRVWFULWLFDODXJ PHQWDWLRQVWRPDLQWDLQVHUYLFHOHYHOVDQGDGGUHVV &RXQFLOSULRULWLHVJLYHQWKHFRQWLQXHGXQFHUWDLQW\VXUURXQGLQJ WKHHFRQRP\,QDFFRUGDQFHZLWKWKH&RXQFLO¶V ILQDQFLDOSROLFLHVWKHILVFDO\HDU*HQHUDO)XQGEXGJHWPDWFKHVEXGJHWHGH[SHQVHVZLWKSURMHFWHG UHYHQXHVZLWKUHVRXUFHVDYDLODEOHWRLQFUHDVHUHVHUYHVXSWR& RXQFLODGRSWHGWDUJHWVDGGUHVVXQGHUIXQGHG SHQVLRQOLDELOLWLHVDQGWUDQVIHUIXQGLQJWRWKHQHZSHQVLRQUHVHUYHWUXVWIXQG 
&217$&7,1*7+(&,7<¶6),1$1&,$/0$1$*(0(17

7KLVILQDQFLDOUHSRUWLVLQWHQGHGWRSURYLGHUHVLGHQWVEXVLQHVVHVFXVWRPHUVLQYHVWRUVDQGFUHGLWRUVZLWKDJHQHUDO RYHUYLHZRIWKH&LW\¶VILQDQFHV3OHDVHGLUHFWDQ\TXHVWLRQVDERXWWKLVUHSRUWWRWKH&LW\RI5RVHYLOOH)LQDQFH 'HSDUWPHQWDW9HUQRQ6WUHHW5RVHYLOOH&DOLIRUQLD RUWRILQDQFH#URVHYLOOHFDXV
19 THIS PAGE INTENTIONALLY LEFT BLANK
20 %$6,&),1$1&,$/67$7(0(176
21 THIS PAGE INTENTIONALLY LEFT BLANK
22 67$7(0(172)1(7326,7,21$1'67$7(0(1762)$&7,9,7,(6 
7KHSXUSRVHRIWKH6WDWHPHQWRI1HW3RVLWLRQDQGWKH6WDWHPHQW RI$FWLYLWLHVLVWRVXPPDUL]HWKHHQWLUH&LW\¶V ILQDQFLDODFWLYLWLHVDQGILQDQFLDOSRVLWLRQ

7KH6WDWHPHQWRI1HW3RVLWLRQUHSRUWVWKHGLIIHUHQFHEHWZHHQWK H&LW\¶VWRWDODVVHWVDQGGHIHUUHGRXWIORZVRI UHVRXUFHVDQGWKH&LW\¶VWRWDOOLDELOLWLHVDQGGHIHUUHGLQIORZVRIUHVRXUFHVLQFOXGLQJDOOWKH&LW\¶VFDSLWDODVVHWV DQG DOOLWVORQJWHUPGHEW7KH6WDWHPHQWRI1HW3RVLWLRQIRFXVHVWKHUHDGHURQWKHFRPSRVLWLRQRIWKH&LW\¶VQHWSRVLWLRQ E\VXEWUDFWLQJWRWDOOLDELOLWLHVDQGGHIHUUHGLQIORZVRIUHVRXUFHVIURPWRWDODVVHWVDQGGHIHUUHGRXWIORZV RIUHVRXUFHV DQGVXPPDUL]HVWKHILQDQFLDOSRVLWLRQRIDOOWKH&LW\¶VJRYHUQPHQWDODFWLYLWLHVLQDVLQJOHFROXPQ DQGWKHILQDQFLDO SRVLWLRQRIDOOWKH&LW\¶VEXVLQHVVW\SHDFWLYLWLHVLQDVLQJOHFROXPQ WKHVHFROXPQVDUHIROORZHG E\DWRWDOFROXPQ
WKDWSUHVHQWVWKHILQDQFLDOSRVLWLRQRIWKHHQWLUH&LW\ 
7KH&LW\¶VJRYHUQPHQWDODFWLYLWLHVLQFOXGHWKHDFWLYLWLHVRILWV*HQHUDO)XQGDORQJZLWKWKHVSHFLDOUHYHQXH FDSLWDO SURMHFWVGHEWVHUYLFHDQGSHUPDQHQWIXQGV6LQFHWKH&LW\¶VLQWHUQDOVHUYLFHIXQGVSUHGRPLQDWHO\VHUYLFH WKHVH IXQGVWKHLUDFWLYLWLHVDUHFRQVROLGDWHGZLWKJRYHUQPHQWDODFWL YLWLHVDIWHUHOLPLQDWLQJLQWHUIXQG WUDQVDFWLRQVDQG EDODQFHV7KH&LW\¶VEXVLQHVVW\SHDFWLYLWLHVLQFOXGHDFWLYLWLH VRIWKHHQWHUSULVHIXQGV)LGXFLDU\ DFWLYLWLHVDUH H[FOXGHG

7KH6WDWHPHQWRI$FWLYLWLHVUHSRUWVLQFUHDVHVDQGGHFUHDVHVLQWKH&LW\¶VQHWSRVLWLRQ,WLVDOVRSUHSDUHGRQWKH IXOO DFFUXDOEDVLVZKLFKPHDQVLWLQFOXGHVDOOWKH&LW\¶VUHYHQXHVDQGDOOLWVH[SHQVHVUHJDUGOHVVRIZKHQFDVKFKDQJHV KDQGV7KLVGLIIHUVIURPWKHPRGLILHGDFFUXDOEDVLVXVHGLQWKHJRYHUQPHQWDOIXQGILQDQFLDOVWDWHPHQWVZKLFKUHIOHFW RQO\FXUUHQWDVVHWVFXUUHQWOLDELOLWLHVDYDLODEOHUHYHQXHVDQGPHDVXUDEOHH[SHQGLWXUHV 
7KH6WDWHPHQWRI$FWLYLWLHVDQGWKH6WDWHPHQWRI1HW3RVLWLRQL QFOXGHWKHILQDQFLDODFWLYLWLHVRIWKH&LW\WKH  5RVHYLOOH)LQDQFH$XWKRULW\WKH5RVHYLOOH1DWXUDO*DV)LQDQFLQJ$XWKRULW\WKH5RVHYLOOH&RPPXQLW\'HYHORSPHQW &RUSRUDWLRQDQGWKH&LW\RI5RVHYLOOH+RXVLQJ$XWKRULW\ZKLFKDUHOHJDOO\VHSDUDWHEXWDUH FRPSRQHQWXQLWVRIWKH &LW\EHFDXVHWKH\DUHFRQWUROOHGE\WKH&LW\ZKLFKLVILQDQFLDOO\DFFRXQWDEOHIRUWKH DFWLYLWLHVRIWKHVHHQWLWLHV 23 THIS PAGE INTENTIONALLY LEFT BLANK
24 CITY OF ROSEVILLE
Statement of Net Position
Governmental Business-Typ e
Activities Activities Total
Assets:

Cash and Investments in City Treasury 479,216,625 $ 409,164,134 $ 888,380,759 $ Receivables 48,831,181 55,455,177 104,286,358 Notes and loans 53,429,411 76,700,443 130,129,854 Internal balances 2,299,130 (2,299,130) - Prepaid items and other assets 3,054,385 3,026,661 6,081,046 Developer permit fees receivable 15,725,322 - 15,725,322 Due from other governments 4,197,014 - 4,197,014 Inventories 1,650,081 25,751,206 27,401,287 Restricted assets:

Cash with fiscal agent 3,138,953 22,065,684 25,204,637 Leases receivable 16,450,118 2,600,472 19,050,590 Investment in NCPA reserves - 6,120,238 6,120,238 Prepaid purchased gas - 75,897,820 75,897,820 Derivatives at fair value - 60,696,996 60,696,996 Capital assets not being depreciated 672,330,248 203,495,090 875,825,338 Capital assets, net of depreciation/amortization 523,140,581 1,765,283,809 2,288,424,390 Total Asset
s 1,823,463,049 2,703,958,600 4,527,421,649
Deferred Outflows of Resources:

Deferred charge on refunding - 5,628,063 5,628,063 Deferred outflows related to OPEB 7,589,691 3,791,000 11,380,691 Deferred outflows related to pensions 88,989,954 46,947,008 135,936,962 Total Deferred Outflows
of Resources 96,579,645 56,366,071 152,945,716 Liabilities:

Accounts payable 14,451,621 18,552,452 33,004,073 Accrued liabilities 7,235,246 6,127,500 13,362,746 Unearned revenue 29,015,774 16,213,069 45,228,843 Deposits payable 255,170 4,831,180 5,086,350 Due to other governments 78 - 78 Due to other funds - - - Subscription payable 3,388,352 - 3,388,352 Investment in joint venture - 1,970,423 1,970,423 Noncurrent liabilities:

Compensated absences:

Due in one year 10,593,316 7,224,519 17,817,835 Due in more than one year 6,578,395 3,468,155 10,046,550 Self-insurance claims payable and litigation settlement:

Due in one year 4,873,469 - 4,873,469 Due in more than one year 10,575,392 - 10,575,392 Other long-term liabilities:

Due in one year 1,872,928 21,329,194 23,202,122 Due in more than one year 17,005,483 248,416,886 265,422,369 Long-term liabilities due in more than one year:

Landfill closure and post closure liability -
370,183 370,183
Net OPEB liability 51,187,118 27,482,000 78,669,118 Net pension liability 278,699,775 161,741,391 440,441,166 Total Liabilities 435,732,117 517,726,952 953,459,069 Deferred Inflows of Resources:

Accumulated increase in fair value of hedging derivatives - 60,696,996 60,696,996 Deferred inflows related to OPEB 29,020,526 14,707,000 43,727,526 Deferred infows related to pensions 2,548,789 - 2,548,789 Deferred inflows related to leases 16,173,523 2,540,223 18,713,746 Total Deferred Inflows
of Resources 47,742,838 77,944,219 125,687,057 Net Position:

Net investment in capital assets 1,173,204,066 1,780,454,523 2,953,658,589 Restricted 305,246,667 28,392,219 333,638,886 Unrestricted (41,882,994) 355,806,758 313,923,764 Total Net Position 1,436,567,739 $ 2,164,653,500 $ 3,601,221,239 $ June 30, 2023
Primary Government
See Notes to Financial Statements.

CITY OF ROSEVILLE
Statement of Activities
Year Ended June 30, 2023
Operating Capital
Charges for Contributions Contributions
Expenses Services and Grants and Grants
Functions/Programs
Primary Government:

Governmental Activities:

General government 23,810,221$ 10,714,525$ 986,348$ -$ Police 43,642,767 5,272,051 801,738 -
Fire 35,525,544 984,538 631,110 -
Economic development 3,423,411 16,855 15,027,571 -
Parks and recreation 35,787,755 20,919,645 220,655 -
Public works 20,625,416 4,852,556 12,361,059 9,053,488
Library 4,406,653 45,492 - -
Development services 22,960,927 35,920,467 38,752 1,745,070 Annexation payments 10,109,686 - - -
Housing assistance payments 7,933,095 - - -
Interest on long-term debt 2,706,949 - - -
Total Governmental Activities 210,932,424 78,726,129 30,067, 233 10,798,558 Business-Type Activities:

Electric 176,493,665 179,185,698 - 9,885,788
Water 39,477,032 38,140,013 - 41,228,504
Wastewater 66,361,019 54,299,357 - 56,272,878
Waste Services 34,853,055 41,683,100 - 935,311
Roseville Natural Gas Financing Authority 32,960,032 30,137,619 - - Local Transportation 10,084,151 386,541 14,178,984 98,971 School-Age Child Care 7,388,103 5,560,150 883,709 -
Total Business-Type Activities 367,617,057 349,392,478 15,062,693 1 08,421,452 Total Primary Government 578,549,481$ 428,118,607$ 45,129,926$ 119,220,010$ General Revenues:

Taxes:

Property taxes
Bradley-Burns sales taxes
Local sales taxes
Transient occupancy taxes
Other taxes
Franchise fees
Use of money and property
Miscellaneous revenues
Gain (Loss) on sale of capital asset
Transfers
Total General Revenues,
and Transfers
Change in Net Position
Net Position at Beginning of Year, as orignially reported Restatement of Net Position
Net Position at Beginning of Year, as restated
Net Position at End of Year
Program Revenues
See Notes to Financial Statements.
26 Primary Government
Governmental Business-Type
Activities Activities Total
(12,109,348)$ - $ (12,109,348)$ (37,568,978) - (37,568,978)
(33,909,896) - (33,909,896)
11,621,015 - 11,621,015
(14,647,455) - (14,647,455)
5,641,687 - 5,641,687
(4,361,161) - (4,361,161)
14,743,362 - 14,743,362
(10,109,686) - (10,109,686)
(7,933,095) - (7,933,095)
(2,706,949) - (2,706,949)
(91,340,504) - (91,340,504)
- 12,577,821 12,577,821
- 39,891,485 39,891,485
- 44,211,216 44,211,216
- 7,765,356 7,765,356
- (2,822,413) (2,822,413)
- 4,580,345 4,580,345
- (944,244) (944,244)
- 105,259,566 105,259,566
(91,340,504) 105,259,566 13,919,062
85,942,237 - 85,942,237
70,753,558 - 70,753,558
28,827,172 - 28,827,172
5,466,708 - 5,466,708
4,097,937 - 4,097,937
2,548,454 - 2,548,454
(926,797) 9,447,311 8,520,514
3,676,766 12,931,214 16,607,980
- (582,283) (582,283)
19,371,222 (19,371,222) -
219,757,257 2,425,020 222,182,277
128,416,753 107,684,586 236,101,339
1,306,397,775 2,056,852,512 3,363,250,287
1,753,211 116,402 1,869,613
1,308,150,986 2,056,968,914 3,365,119,900
1,436,567,739$ 2,164,653,500 $ 3,601,221,239 $
Net (Expenses) Revenues and Changes in Net Position
See Notes to Financial Statements.
27 THIS PAGE INTENTIONALLY LEFT BLANK
28 )81'),1$1&,$/67$70(176

0DMRUIXQGVDUHGHILQHGJHQHUDOO\DVKDYLQJVLJQLILFDQWDFWLYLWLHVRUEDODQFHVLQWKHFXUUHQW\HDU 
7KHIXQGVGHVFULEHGEHORZZHUHGHWHUPLQHGWREHPDMRUIXQGVE\WKH&LW\LQILVFDO\HDU,QGLYLGXDOQRQPDMRU IXQGVPD\EHIRXQGLQWKHVXSSOHPHQWDOLQIRUPDWLRQVHFWLRQ 
*HQHUDO)XQG

7KH*HQHUDO)XQGLVXVHGIRUDOOWKHJHQHUDOUHYHQXHVRIWKH&LW\QRWVSHFLILFDOO\OHYLHGRUFROOHFWHGIRURWKHU&LW\ IXQGVDQGWKHUHODWHGH[SHQGLWXUHV7KH*HQHUDO)XQGDFFRXQWVIRUDOOILQDQFLDOUHVRXUFHVRIDJRYHUQPHQWDOXQLW ZKLFKDUHQRWDFFRXQWHGIRULQDQRWKHUIXQG

29 CITY OF ROSEVILLE
Balance Sheet
Governmental Funds
June 30, 2023
Other Total
Governmental Governmental
General Funds Funds
Assets:

Cash and investments 140,161,795$ 259,599,313$ 399,761,108$ Accounts receivable 26,675,908 19,207,694 45,883,602
Leases receivable 16,450,118 - 16,450,118
Notes and loans 10,323,262 43,106,149 53,429,411
Prepaids 443,544 3,421 446,965
Developer permit fees receivable 2,096,468 13,628,854 15,725,322 Due from other governments - 4,197,014 4,197,014
Due from other funds 2,536,949 - 2,536,949
Advances to other funds 7,084,886 - 7,084,886
Inventories 254,072 - 254,072
Restricted assets:

Cash and investments with fiscal agents - 3,138,953 3,138,953 Total Assets 206,027,002$ 342,881,398$ 548,908,400$ Liabilities, Deferred Inflows of Resources,
and Fund Balances:

Liabilities:

Accounts payable 4,561,042$ 7,055,489$ 11,616,531$ Accrued liabilities 4,030,886 2,438,489 6,469,375
Unearned revenues 13,289,637 15,726,137 29,015,774
Deposits payable 166,846 - 166,846
Due to other government agencies 78 88,324 88,402
Due to other funds - 2,981,484 2,981,484
Advances from other funds - 10,082,779 10,082,779
Total Liabilities 22,048,489 38,372,702 60,421,191
Deferred Inflows of Resources:

Unavailable revenues 1,443,424 53,357,057 54,800,481
Leases 16,173,523 - 16,173,523
Total Deferred Inflows of Resources 17,616,947 53,357,057 70, 974,004 Fund Balances:

Nonspendable 18,105,764 14,539,216 32,644,980
Restricted - 237,367,796 237,367,796
Committed 111,076,368 - 111,076,368
Assigned 806,777 2,020,366 2,827,143
Unassigned 36,372,657 (2,775,739) 33,596,918
Total Fund Balances 166,361,566 251,151,639 417,513,205 Total Liabilities, Deferred Inflows of
Resources, and Fund Balances 206,027,002 $ 342,881,398 $ 548,908,400 $ See Notes to Financial Statements.
30 CITY OF ROSEVILLE
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position
June 30, 2023
Total Fund Balances - Total Governmental Funds 417,513,205$ Amounts reported for governmental activities in the Statement of Net Position are different from those reported in the governmental funds above because of the following:

Capital Assets
Capital assets used in Governmental Activities are not current assets or financial resources and therefore are not reported in the Governmental Funds. 1,071,058,241 Allocation of Internal Service Fund Net Position
Internal service funds are used to charge the costs of certain activities such as insurance, post employment benefits, facility maintenance, and information technology. The net position of the internal service funds are therefore included in governmental activities in the statement of net position. 167,370,132
Long-Term Liabilities
Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the governmental funds:

Direct placement debt and certificates of participation (16,592,354)$ Lease payable (2,286,057)
Interest payable (267,676)
Compensated absences (15,396,662)
Net OPEB liability (46,025,118)
Net pension liability (252,385,930) (332,953,797)
Deferred Outflows/(Inflows) of Resources
Deferred outflows related to pensions 81,352,101
Deferred inflows related to pensions (2,548,789)
Deferred outflows related to OPEB 7,194,691
Deferred inflows related to OPEB (27,218,526)
Unavailable revenue in the governmental funds is revenue in the governmental activities 54,800,481 113,579,958
Net Position of Governmental Activities 1,436,567,739$
See Notes to Financial Statements.
31 CITY OF ROSEVILLE
Statement of Revenues,
Expenditures and Changes in Fund Balances
Governmental Funds
Year Ended June 30, 2023
Other Total
Governmental Governmental
General Funds Funds
Revenues:

Taxes 179,325,880$ 18,310,186 $ 197,636,066$
Licenses and permits 4,630,839 - 4,630,839
Subventions and grants 1,495,834 27,328,420 28,824,254
Charges for services 21,658,218 50,659,530 72,317,748
Use of money and property 1,576,298 (1,879,046) (302,748) Fines, forfeitures and penalties 192,685 208,932 401,617 Contributions from developers and others 969,680 4,013,948 4,983,628 Miscellaneous revenues 1,094,623 2,983,014 4,077,637
Revenue from others - 8,421,724 8,421,724
Total Revenues 210,944,057 110,046,708 320,990,765
Expenditures:

Current:

General government 22,694,217 4,004,825 26,699,042
Police 54,944,918 2,787,322 57,732,240
Fire 42,419,179 - 42,419,179
Economic development 982,640 1,502,791 2,485,431
Parks and recreation 24,837,420 14,742,475 39,579,895
Public works 8,778,504 11,264,528 20,043,032
Library 5,305,710 - 5,305,710
Development services 22,770,971 5,307,154 28,078,125
Housing assistance payments - 7,933,095 7,933,095
Annexation payments 10,109,686 - 10,109,686
Capital outlay 4,624,754 21,466,099 26,090,853
Debt service:

Principal retirement - 1,700,223 1,700,223
Interest and fiscal charges 1,235 2,665,260 2,666,495
Total Expenditures 197,469,234 73,373,772 270,843,0 06
Excess (Deficiency) of Revenues
Over (Under) Expenditures 13,474,823 36,672,936 5 0,147,759 Other Financing Sources (Uses):

Transfers in 16,067,218 6,254,848 22,322,066
Transfers out (1,975,781) (12,787,316) (14,763,097)
Proceeds from sale of capital assets 10,799 - 10,799
Total Other Financing Sources
(Uses) 14,102,236 (6,532,468) 7,569,768
Net Change in Fund Balances 27,577,059 30,140,468 5 7,717,527 Fund Balances, Beginning of Year, as
previously reported 138,654,337 221,362,925 360,017,262 Restatements 130,170 (351,754) (221,584)
Fund Balances, Beginning of Year, as restated 138,784,507 221,011,171 359,795,678 Fund Balances, End of Year 166,361,566$ 251,151,639$ 417,513,205$ See Notes to Financial Statements.
32 CITY OF ROSEVILLE
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds
to the Statement of Activities
Year Ended June 30, 2023
Net Change in Fund Balances - Total Governmental Funds 57,717,527$ Amounts reported for governmental activities in the statement of activities are different from those reported in the governmental funds because of the following:

Capital Assets Transactions
Governmental funds report capital outlays as expenditures. 73,526,808$ Non-capitalized capital outlay expenditures are reclassified to various governmental activities.

In the statement of activities the cost of capital assets is allocated over their estimated useful lives as depreciation expense (net of depreciation on (18,452,986) internal service fund capital assets of $11,230,972).

Proceeds from the sale of assets (10,799)
Amortization of right-to-use leased assets (140,178) 54,922,845 Long Term Debt Transactions
Issuance of debt and repayment of principal is an other financing source and expenditure, respectively, in the governmental funds but in the statement of net position the transactions increase and reduce long term liabilities.

Payment of debt principal 1,700,223
Amortization of premium 27,808
Payment of lease principal 146,131 1,874,162
Pension Related Items
Governmental funds report pension contributions as expenditures. However, in the Statement of Activities, pension expense is measured as the change in net pension liability and the amortization of deferred outflows and inflows related to pensions. This amount represents the net change in pension related amounts. 766,758
OPEB Related Items
Governmental funds report OPEB contributions as expenditures. However, in the Statement of Activities, OPEB expense is measured as the change in net OPEB liability and the amortization of deferred outflows and inflows related to OPEB. This amount represent the net change in OPEB related amounts. 5,881,661
Accrual of Non-Current Items
Certain amounts included in the Statement of Activities do not require the use of current financial resources and therefore are not reported as revenue or expenditures in governmental funds (net change):

Compensated absences (1,687,180)
Interest payable 18,762 (1,668,418)
Unavailable Revenues
Revenue and other resources not available to fund liabilities of the current period are not recognized in governmental funds. Revenue in the statement of activities is not limited by availability, so certain revenues need to be reduced by the amounts that were unavailable at the beginning of the year and increased by the amounts that were unavailable at the end of the year.

This adjustment is the change between prior year's unavailable revenues and the current year unavailable revenues. (122,521)
Allocation of Internal Service Fund Activity
Internal Service Funds are used by management to charge the costs of certain activities, such as equipment acquisition, maintenance, and insurance to individual funds. The portion of the net revenue (expense) of these Internal Service Funds arising out of their transactions with Governmental Funds is reported with governmental activities because they service those activities. 9,044,739 Change in Net Position of Governmental Activities 128,416,753$ See Notes to Financial Statements.
33 THIS PAGE INTENTIONALLY LEFT BLANK
34 35235,(7$5<)81'6

3URSULHWDU\IXQGVDFFRXQWIRU&LW\RSHUDWLRQVILQDQFHGDQGRSHU DWHGLQDPDQQHUVLPLODUWRDSULYDWHEXVLQHVV HQWHUSULVH7KHLQWHQWRIWKH&LW\LVWKDWWKHFRVWRISURYLGLQJJRRGVDQGVHUYLFHVEHILQDQFHGSULPDULO\WKURXJK XVHU FKDUJHV

7KH&LW\KDVLGHQWLILHGWKHIXQGVEHORZDVPDMRUHQWHUSULVHIXQGVLQILVFDO\HDU 
(OHFWULF)XQG

7KLVIXQGDFFRXQWVIRUDOOILQDQFLDOWUDQVDFWLRQVUHODWLQJWRWKH&LW\¶VHOHFWULFVHUYLFHV6HUYLFHVDUHRQDXVHU FKDUJH EDVLVWRUHVLGHQWVDQGEXVLQHVVRZQHUVORFDWHGLQWKH&LW\ 
:DWHU)XQG

7KLVIXQGDFFRXQWVIRUDOOILQDQFLDOWUDQVDFWLRQVUHODWLQJWRWKH&LW\¶VZDWHUVHUYLFHV6HUYLFHVDUHRQDXVHUFKDUJH EDVLVWRUHVLGHQWVDQGEXVLQHVVRZQHUVORFDWHGLQWKH&LW\ 
:DVWHZDWHU)XQG

7KLVIXQGDFFRXQWVIRUDOOILQDQFLDOWUDQVDFWLRQVUHODWLQJWRWKH&LW\¶VZDVWHZDWHUFROOHFWLRQDQGWUHDWPHQW VHUYLFHV 6HUYLFHVDUHRQDXVHUFKDUJHEDVLVWRUHVLGHQWVDQGEXVLQHVVRZQHUVORFDWHGLQWKH&LW\ 
:DVWH6HUYLFHV)XQG

7KLVIXQGDFFRXQWVIRUDOOILQDQFLDOWUDQVDFWLRQVUHODWLQJWRW KH&LW\¶VVROLGZDVWHVHUYLFHV6HUYLFHVDUHRQDXVHU FKDUJHEDVLVWRUHVLGHQWVDQGEXVLQHVVRZQHUVORFDWHGLQWKH&LW\ 
5RVHYLOOH1DWXUDO*DV)LQDQFLQJ$XWKRULW\

7KLV IXQG DFFRXQWV IRU ILQDQFLQJ DQG SXUFKDVLQJ SUHSDLG QDWXUDO JDV IRU WKH JHQHUDWLRQ RI SRZHU IRU WKH  5RVHYLOOH(QHUJ\3DUN

,QWHUQDO6HUYLFH)XQGV

7KHVHIXQGVDFFRXQWIRUDFWLYLWLHVDQGVHUYLFHVSHUIRUPHGE\DGHVLJQDWHGGHSDUWPHQWIRURWKHUGHSDUWPHQWVLQ WKH &LW\
35 CITY OF ROSEVILLE
Statement of Net Position
Proprietary Funds
June 30, 2023
Assets:

Current:

Cash and investments 134,784,933$ 126,090,589 $ 91,434,986 $ 39,835,330 $ Receivables 24,731,479 9,498,654 14,946,877 4,568,315 Notes and loans - 32,098 76,668,345 -
Prepaid costs 2,885,787 47,768 47,572 24,833 Due from other funds - - - -
Inventories 21,616,376 3,750,529 120,995 263,306 Leases receivable 1,857,893 - - -
Restricted:

Cash with fiscal agent 10,261,381 5,361,059 - - Total Current Assets 196,137,849 144,780,697 183,218,775 44,691,784 Noncurrent:

Prepaid purchased gas - - - -
Leases receivable 742,579 - - -
Investment in NCPA reserves 6,120,238 - - - Derivative instruments - - - -
Advances to other funds - - - -
Capital assets not being depreciated 26,090,740 31,667,674 124,013,591 2,723,769 Capital assets - net of accumulated depreciation 464,651,148 622,596,768 646,533,328 1,880,977 Total Noncurrent Assets 497,604,705 654,264,442 770,546,919 4,604,746
Total Assets 693,742,554 799,045,139 953,765,694 49,296,530 Deferred Outflows of Resources:

Deferred charge on refunding 4,435,192 1,192,871 - - Accumulated decrease in fair value of hedging derivative - - - - Deferred OPEB related items 1,439,000 720,000 846,000 460,000 Deferred pension related items 21,578,386 6,673,918 9,315,069 5,864,799 Total Deferred Outflows of Resources 27,452,578 8,586,789 10,161,069 6,324,799 Liabilities:

Current:

Accounts payable 8,171,039 3,568,362 4,460,769 1,429,595 Accrued liabilities 2,459,123 478,702 1,305,334 292,198 Subscription payable 323,775 78,543 98,409 30,504
Unearned revenues - 108,472 2,270,461 193,581 Deposits payable 2,657,424 82,122 76,273 73,606 Due to other funds - - - -
Accrued compensated absences 3,614,801 984,749 1,414,188 872,077 Accrued claims and judgments - - - -
Long-term debt - due in less than one year 4,250,000 3,125,000 267,963 - Child development reserves - - - -
Investment in SPWA reserves -
- 1,970,423 -
Total Current Liabilities 21,476,162 8,425,950 11,863,820 2,891,561 Noncurrent:

Advances from other funds - - - -
Subscription payable 814,105 248,580 317,682 81,486
Accrued compensated absences 1,662,522 596,160 739,869 288,476 Accrued claims and judgments - - - -
Net OPEB liability 9,778,000 3,799,000 5,574,000 3,709,000 Net pension liability 74,341,652 22,992,912 32,092,188 20,205,358 Landfill closure and post closure liability - - - 370,183 Long-term debt - due in more than one year 85,574,958 21,948,751 76,792,683 - Total Noncurrent Liabilities 172,171,237 49,585,403 115,516,422 24,654,503 Total Liabilities 193,647,399 58,011,353 127,380,242 27,546,064 Deferred Inflows of Resources:

Accumulated increase in fair value of hedging derivatives - - - - Deferred OPEB related items 5,509,000 2,628,000 3,218,000 1,828,000 Deferred pension related items - - - -
Leases deferred inflows 2,540,223 - - -
Total Deferred Inflows of Resources 8,049,223 2,628,000 3,218,000 1,828,000 Net Position:

Net investment in capital assets 404,214,242 630,056,439 693,070,182 4,492,756
Restricted for debt service 10,134,406 4,134,075 5,516,260 - Restricted for sustainable energy programs (AB 32) 8,607,478 - - - Unrestricted 96,542,384 112,802,061 134,742,079 21,754,509 Total Net Position 519,498,510$ 746,992,575$ 833,328,521$ 26,247,265$ Business-Type Activities - Enterprise Funds
Electric Water Wastewater Waste Services
See Notes to Financial Statements.
36 CITY OF ROSEVILLE
Statement of Net Position
Proprietary Funds
June 30, 2023
Assets:

Current:

Cash and investments
Receivables
Notes and loans
Prepaid costs
Due from other funds
Inventories
Leases receivable
Restricted:

Cash with fiscal agent
Total Current Assets
Noncurrent:

Prepaid purchased gas
Leases receivable
Investment in NCPA reserves
Derivative instruments
Advances to other funds
Capital assets not being depreciated
Capital assets - net of accumulated depreciation
Total Noncurrent Assets
Total Assets
Deferred Outflows of Resources:

Deferred charge on refunding
Accumulated decrease in fair value of hedging derivative Deferred OPEB related items
Deferred pension related items
Total Deferred Outflows of Resources
Liabilities:

Current:

Accounts payable
Accrued liabilities
Subscription payable
Unearned revenues
Deposits payable
Due to other funds
Accrued compensated absences
Accrued claims and judgments
Long-term debt - due in less than one year
Child development reserves
Investment in SPWA reserves
Total Current Liabilities
Noncurrent:

Advances from other funds
Subscription payable
Accrued compensated absences
Accrued claims and judgments
Net OPEB liability
Net pension liability
Landfill closure and post closure liability
Long-term debt - due in more than one year
Total Noncurrent Liabilities
Total Liabilities
Deferred Inflows of Resources:

Accumulated increase in fair value of hedging derivatives Deferred OPEB related items
Deferred pension related items
Leases deferred inflows
Total Deferred Inflows of Resources
Net Position:

Net investment in capital assets
Restricted for debt service
Restricted for sustainable energy programs (AB 32)
Unrestricted
Total Net Position
Governmental
Activities-
Internal
Totals Service Funds
-$ 17,018,296 $ 409,164,134$
79,455,517 $
- 1,709,852 55,455,177 2,947,579 - - 76,700,443 -
- 20,701 3,026,661 2,607,420
- - - 775,002
- - 25,751,206 1,396,009
- - 1,857,893 -
6,443,244 - 22,065,684 -
6,443,244 18,748,849 594,021,198 87,181,527 75,897,820 - 75,897,820 -
- - 742,579 -
- - 6,120,238 -
60,696,996 - 60,696,996 -
- - - 5,052,893
- 18,999,316 203,495,090 2,616,171
- 29,621,588 1,765,283,809 121,796,417
136,594,816 48,620,904 2,112,236,532 129,465,481 143,038,060 67,369,753 2,706,257,730 216,647,008 - - 5,628,063 -
- - - -
- 326,000 3,791,000 395,000
- 3,514,836 46,947,008 7,637,853 - 3,840,836 56,366,071 8,032,853
8,199 914,488 18,552,452 2,835,090
1,365,938 226,205 6,127,500 498,195 - - 531,231 907,166
- 13,640,437 16,212,951 -
1,941,755 - 4,831,180 -
189,130 55,000 244,130 86,337
- 338,704 7,224,519 1,112,385
- - - 4,873,469
13,155,000 - 20,797,963 -
- 118 118 -
- - 1,970,423 -
16,660,022 15,174,952 76,492,467 10,312,642 - 2,055,000 2,055,000 -
- - 1,461,853 2,481,186
- 181,128 3,468,155 662,664
- - - 10,575,392
- 4,622,000 27,482,000 5,162,000 -
12,109,281 161,741,391 26,313,845
- - 370,183 -
62,638,641 - 246,955,033 -
62,638,641 18,967,409 443,533,615 45,195,087 79,298,663 34,142,361 520,026,082 55,507,729 60,696,996 - 60,696,996 -
- 1,524,000 14,707,000 1,802,000 - - - -
- - 2,540,223 -
60,696,996 1,524,000 77,944,219 1,802,000 - 48,620,904 1,780,454,523 121,024,236
- - 19,784,741 -
- - 8,607,478 -
3,042,401 (13,076,676) 355,806,758 46,345,896 3,042,401$ 35,544,228$ 2,164,653,500$ 167,370,132$ Business-Type Activities - Enterprise Funds
Other Enterprise
Funds
Roseville Natural
Gas Financing
Authority
See Notes to Financial Statements.
37 CITY OF ROSEVILLE
Statement of Revenues, Expenses
and Changes in Net Position
Proprietary Funds
Year Ended June 30, 2023
Operating Revenues:

Sales and service charges 179,185,698$ 38,140,013 $ 54,299,357 $ 41,683,100 $ Miscellaneous 2,357,527 263,795 72,317 170,382
Total Operating Revenues 181,543,225 38,403,808 54,371,674 41,853,482 Operating Expenses:

Administration and general 5,372,852 4,314,328 3,001,471 3,294,201 Depreciation and amortization 25,272,365 12,323,622 14,539,225 498,232 Operations 62,374,189 21,817,618 60,938,132 31,272,082
Power supply 74,890,256 - - -
Claims expense ----
Total Operating Expenses 167,909,662 38,455,568 78,478,828 35,064,515 Operating Income (Loss) 13,633,563 (51,760) (24,107,154) 6,788,967 Nonoperating Revenues (Expenses):

Subventions and grants 127,820 54,235 337,255 5,192
Interest revenue (loss) 3,941,525 (8,114) (100,768) (231,967) Interest expense (8,667,113) (1,021,464) (586,034) 211,460 Increase (decrease) in JPA reserves 83,110 - 12,703,843 - Lease revenue 3,453,834 - - -
Proceeds from litigation 9,427,101 - - -
Gain (loss) on disposal of capital assets (437,368) (106,410) (62,391) - Total Nonoperating
Revenues (Expenses) 7,928,909 (1,081,753) 12,291,905 (15,315) Income (Loss) Before Transfers 21,562,472 (1,133,513) ( 11,815,249) 6,773,652 and Capital Contributions
Capital contributions - connection/impact fees 2,500,094 16,112,029 22,289,732 930,139 Contributions in aid of construction 2,065,674 - - -
Capital contributions from developers and other agencies 5,192,200 25,062,240 33,645,891 - Transfers in 177,080 65,316 115,437 98,454
Transfers out (7,730,673) (5,365,231) (3,225,316) (5,444,904) Changes in Net Position 23,766,847 34,740,841 41,010,495 2,357,341 Net Position:

Beginning of Year, as orginally reported 495,731,663 712,251,734 792,318,026 23,889,924 Restatements ----
Beginning of Fiscal Year, as restated 495,731,663 712,251,734 792,318,026 23,889,924 End of Fiscal Year 519,498,510$ 746,992,575 $ 833,328,521 $ 26,247,265 $ Business-Type Activities - Enterprise Funds
Electric Water Wastewater Waste Services
See Notes to Financial Statements.
38 CITY OF ROSEVILLE
Statement of Revenues, Expenses
and Changes in Net Position
Proprietary Funds
Year Ended June 30, 2023
Operating Revenues:

Sales and service charges
Miscellaneous
Total Operating Revenues
Operating Expenses:

Administration and general
Depreciation and amortization
Operations
Power supply
Claims expense
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses):

Subventions and grants
Interest revenue (loss)
Interest expense
Increase (decrease) in JPA reserves
Lease revenue
Proceeds from litigation
Gain (loss) on disposal of capital assets
Total Nonoperating
Revenues (Expenses)
Income (Loss) Before Transfers
and Capital Contributions
Capital contributions - connection/impact fees
Contributions in aid of construction
Capital contributions from developers and other agencies Transfers in
Transfers out
Changes in Net Position
Net Position:

Beginning of Year, as orginally reported
Restatements
Beginning of Fiscal Year, as restated
End of Fiscal Year
Totals
30,137,619$ 5,946,691 $ 349,392,478 $ 56,724,164 $ 46,373 593,699 3,504,093 1,005,994
30,183,992 6,540,390 352,896,571 57,730,158
7,414 1,787,927 17,778,193 9,318
- 1,856,627 54,490,071 12,122,778
- 13,807,151 190,209,172 37,361,349
18,133,391 - 93,023,647 -
- - - 10,026,914
18,140,805 17,451,705 355,501,083 59,520,359
12,043,187 (10,911,315) (2,604,512) (1,790,201)
- 15,062,693 15,587,195 -
2,460,195 (67,394) 5,993,477 (890,289)
(14,819,227) (20,549) (24,902,927) (87,024)
- - 12,786,953 -
- - 3,453,834 -
- - 9,427,101 -
- 23,886 (582,283) -
(12,359,032) 14,998,636 21,763,350 (977,313)
(315,845) 4,087,321 19,158,838 (2,767,514)
- - 41,831,994 -
- - 2,065,674 -
- 98,971 63,999,302 -
- 1,938,615 2,394,902 11,812,253
- - (21,766,124) -
(315,845) 6,124,907 107,684,586 9,044,739
3,358,246 29,302,919 2,056,852,512 158,325,393
- 116,402 116,402 -
3,358,246 29,419,321 2,056,968,914 158,325,393
3,042,401$ 35,544,228 $ 2,164,653,500 $ 167,370,132 $ Other Enterprise
Funds
Governmental
Activities-
Internal Service
Funds
Business-Type Activities - Enterprise Funds
Roseville Natural
Gas Financing
Authority
See Notes to Financial Statements.
39 CITY OF ROSEVILLE
Statement of Cash Flows
Proprietary Funds
Year Ended June 30, 2023
Cash Flows from Operating Activities:

Cash received from customers and users 180,287,357$ 38,795,827 $ 54,350,239 $ 41,423,600 $ Cash paid to suppliers for goods and services (121,921,168) (19,680,618) (52,026,391) (26,762,589) Cash paid to employees for services (29,242,383) (10,076,736) (10,625,405) (6,041,436) Changes in deposits (19,047,492) (2,200) (10,054) 1,300 Claims paid - - - -
Net Cash Provided (Used) by Operating Activities 10,076,314 9,036,273 (8,311,611) 8,620,875 Cash Flows from Non-Capital
Financing Activities:

Cash transfers out (7,730,673) (5,365,231) (3,225,316) (5,444,904) Cash transfers in 177,080 65,316 115,437 98,454
Increase/(decrease) in due to other funds - - - -
Payments/issuances of notes and loans receivable - (7,295) (44,817,061) - Receipts of advances to other funds - - - -
Litigation settlement 9,427,101 - - -
Landfill payments - - - (213,888)
Subventions and grants 127,820 54,235 337,255 5,192
Net Cash Provided (Used) by
Non-Capital Financing Activities 2,001,328 (5,252,975) (47,589,685) (5,555,146) Cash Flows from Capital
and Related Financing Activities:

Capital contributions 2,065,674 25,062,240 33,645,891 - Acqui
sition and construction of capital assets (18,287,915) (39,892,731) (32,614,931) (463,680) Principal paid on capital debt (58,280,000) (2,975,000) - - Interest paid on capital debt (9,409,866) (1,021,464) (586,034) 211,460 Increase/decrease in advance from other funds - - - -
Proceeds from capital debt issued - - 45,209,363 - Proceeds from sale of capital assets - - - -
Connection/impact fees 2,500,094 16,112,029 22,289,732 930,139 Net Cash Provided (Used) by
Capital and Related Financing Activities (81,412,013) (2,714,926) 67,944,021 677,919 Cash Flows from Investing Activities:

Lease revenue received 3,627,946 - - -
Fair market adjustment 2,611,941 (2,194,776) (2,308,798) (901,817) Interest received 2,244,776 1,867,749 2,208,029 669,851 Net Cash Provided (Used) by
Investing Activities 8,484,663 (327,027) (100,769) (231,966) Net Increase (Decrease) in Cash
and Cash Equivalents (60,849,708) 741,345 11,941,956 3,511,682 Cash and Cash Equivalents at Beginning of Year 205,896,022 130,710,303 79,493,030 36,323,648 Cash and Cash Equivalents at End of Yea
r 145,046,314$ 131,451,648 $ 91,434,986 $ 39,835,330 $ Business-Type Activities - Enterprise Funds
Electric Water Wastewater Waste Services
See Notes to Financial Statements.
40 CITY OF ROSEVILLE
Statement of Cash Flows
Proprietary Funds
Year Ended June 30, 2023
Business-Type Activities - Enterprise Funds
Electric Water Wastewater Waste Services
Reconciliation of Operating Income to Net Cash
Provided (Used) by Operating Activities:

Operating income (loss) 13,633,563$ (51,760) $ (24,107,154)$ 6,788,967 $ Adjustments to Reconcile Operating Income (Loss)
Net Cash Provided (Used) by Operating Activities:

Depreciation and amortization 25,272,365 12,323,622 14,539,225 498,232 (Increase) decrease in receivables (1,255,868) 292,410 (2,290,883) (623,463) (Increase) decrease in inventory (8,436,780) (345,724) 20,203 (42,384) (Increase) decrease in prepaid expense 705,686 (47,768) (47,572) (24,833) (Increase) decrease in deposits (19,047,492) (2,200) (10,054) 1,300 Increase (decrease) in accounts payable (1,171,732) (2,481,044) (479,591) 269,431 Increase (decrease) in accrued liab ilities (152,937) 47,783 590,113 (17,994) Increase (decrease) in deposits payable - - (49,680) (23,252) Increase (decrease) in unearned revenue - 99,609 2,269,448 193,581 Increase (decrease) in claims and judgments - - - -
Increase (decrease) in net pension liab ility 26,862,973 7,542,533 12,824,405 9,029,740 Increase (decrease) in OPEB liability (4,930,818) (443,000) (424,000) (223,000) (Increase) decrease in deferred pension related items (21,349,925) (8,012,579) (10,984,480) (6,833,086) (Increase) decrease in deferred OPEB related items (776,000) (63,000) (415,000) (460,000) Increase (decrease) in compensated absences 723,279 177,391 253,409 87,636 Total Adjustm
ents (3,557,249) 9,088,033 15,795,543 1,831,908 Net Cash Provided (Used) by
Operating Activities 10,076,314$ 9,036,273$ (8,311,611)$ 8,620,875$ Non-Cash Investing, Capital, and Financing Activities:

Net amortization of premium and deferred loss (742,753) (461,965) - - Capital contributions 5,014,316 - - -
Gain/(Loss) on disposition of capital assets (437,368) (106,410) - - See Notes to Financial Statements.
41 CITY OF ROSEVILLE
Statement of Cash Flows
Proprietary Funds
Year Ended June 30, 2023
Cash Flows from Operating Activities:

Cash received from customers and users
Cash paid to suppliers for goods and services
Cash paid to employees for services
Changes in deposits
Claims paid
Net Cash Provided (Used) by Operating Activities
Cash Flows from Non-Capital
Financing Activities:

Cash transfers out
Cash transfers in
Increase/(decrease) in due to other funds
Payments/issuances of notes and loans receivable
Receipts of advances to other funds
Litigation settlement
Landfill payments
Subventions and grants
Net Cash Provided (Used) by
Non-Capital Financing Activities
Cash Flows from Capital
and Related Financing Activities:

Capital contributions
Acquisition and construction of capital assets
Principal paid on capital debt
Interest paid on capital debt
Increase/decrease in advance from other funds
Proceeds from capital debt issued
Proceeds from sale of capital assets
Connection/impact fees
Net Cash Provided (Used) by
Capital and Related Financing Activities
Cash Flows from Investing Activities:

Lease revenue received
Fair market adjustment
Interest received
Net Cash Provided (Used) by
Investing Activities
Net Increase (Decrease) in Cash
and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year
Cash and Cash Equivalents at End of Yea
r
Governmen
tal
Other Activities-
Enterprise Internal
Funds Totals Service Funds
30,184,001$ 6,983,135$ 352,024,159$ 57,607,904$ (4,266,894) (8,792,629) (233,450,289) (18,474,581) - (7,492,574) (63,478,534) (14,319,195) (2,740,000) - (21,798,446) -
- - - (10,026,914)
23,177,107 (9,302,068) 33,296,890 14,787,214 - - (21,766,124) -
- 1,938,615 2,394,902 11,812,253 170,705 - 170,705 70,113
- - (44,824,356) -
- - - (493,716)
- - 9,427,101 -
- - (213,888) -
- 15,062,693 15,587,195 -
170,705 17,001,308 (39,224,465) 11,388,650 - 98,971 60,872,776 -
- (7,126,094) (98,385,351) (9,476,545) (12,520,000) - (73,775,000) -
(15,053,977) (20,549) (25,880,430) (87,024) - 1,220,000 1,220,000 -
- - 45,209,363 -
- 39,577 39,577 (9,030)
- - 41,831,994 -
(27,573,977) (5,788,095) (48,867,071) (9,572,599) - - 3,627,946 -
- (428,961) (3,222,411) (2,512,801) 1,724,284 361,567 9,076,256 1,622,406 1,724,284 (67,394) 9,481,791 (890,395) (2,501,881) 1,843,751 (45,312,855) 15,712,870 8,945,125 15,174,545 476,542,673 63,742,647 6,443,244$ 17,018,296$ 431,229,818$ 79,455,517$ Roseville Natural
Gas
Financing
Authority
Business-Type Activities - Enterprise Funds
See Notes to Financial Statements.
42 CITY OF ROSEVILLE
Statement of Cash Flows
Proprietary Funds
Year Ended June 30, 2023
Reconciliation of Operating Income to Net Cash
Provided (Used) by Operating Activities:

Operating income (loss)
Adjustments to Reconcile Operating Income (Loss)
Net Cash Provided (Used) by Operating Activities:

Depreciation and amortization
(Increase) decrease in receivables
(Increase) decrease in inventory
(Increase) decrease in prepaid expense
(Increase) decrease in deposits
Increase (decrease) in accounts payable
Increase (decrease) in accrued liab ilities
Increase (decrease) in deposits payable
Increase (decrease) in unearned revenue
Increase (decrease) in claims and judgments
Increase (decrease) in net pension liab ility
Increase (decrease) in OPEB liability
(Increase) decrease in deferred pension related items
(Increase) decrease in deferred OPEB related items
Increase (decrease) in compensated absences
Total Adjustments
Net Cash Provided (Used) by
Operating Activities
Non-Cash Investing, Capital, and Financing Activities:

Net amortization of premium and deferred loss
Capital contributions
Gain/(Loss) on disposition of capital assets
Governmental
Other Activities-
Enterprise Internal
Funds Totals Service Funds
Roseville Natural
Gas Financing
Authority
Business-Type Activities - Enterprise Funds
12,043,187$ (10,911,315) $ (2,604,512) $ (1,790,201) $ - 1,856,627 54,490,071 12,122,778 9 3,300,300 (577,495) (122,254) - - (8,804,685) (70,068)
13,868,414 (20,701) 14,433,226 12,898 (2,740,000) - (21,798,446) -
5,497 128,697 (3,728,742) 1,564,096
- 4,278 471,243 216,951
- - (72,932) -
- (2,857,555) (294,917) -
- - - 2,340,490
- 4,421,016 60,680,667 10,521,759 - (53,000) (6,073,818) (178,000)
- (4,180,967) (51,361,037) (9,006,120) - (976,000) (2,690,000) (1,076,000) - (13,448) 1,228,267 250,885
11,133,920 1,609,247 35,901,402 16,577,415 23,177,107$ (9,302,068)$ 33,296,890$ 14,787,214$ - 23,886 (1,180,832) -
- 98,971 5,113,287 -
- - (543,778) -
See Notes to Financial Statements.
43 THIS PAGE INTENTIONALLY LEFT BLANK
44 ),'8&,$5<)81'6

)LGXFLDU\IXQGVDUHSUHVHQWHGVHSDUDWHO\IURPWKHJRYHUQPHQWZLGHDQGIXQGILQDQFLDOVWDWHPHQWV7KH&LW\KDG WKH IROORZLQJW\SHVRIILGXFLDU\IXQGVLQILVFDO\HDU


2WKHU3RVW(PSOR\PHQW%HQHILWV7UXVW)XQG
7KLVIXQGLVXVHGWRDFFRXQWIRUDVVHWVKHOGE\WKH&LW\DVDWUXVWHHDJHQWIRU WKHPHPEHUVDQGEHQHILFLDULHVRIWKH RWKHUSRVWHPSOR\PHQWEHQHILWSODQ

3ULYDWH3XUSRVH7UXVW)XQGV
7KHVHIXQGVDUHXVHGWRDFFRXQWIRU WUXVWDUUDQJHPHQWVXQGHUZK LFKSULQFLSDODQGLQFRPH EHQHILWSULYDWH RUJDQL]DWLRQVRURWKHUJRYHUQPHQWV

&XVWRGLDO)XQGV
7KHVHIXQGVDUHXVHGWRDFFRXQWIRUDVVHWVKHOGE\WKH&LW\FXV WRGLDQIRULQGLYLGXDOVSULYDWHRUJDQL]DWLRQV DQG RWKHUJRYHUQPHQWV
45 CITY OF ROSEVILLE
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2023
Assets:

Cash and investments in City Treasury -$ 6,292,060$ 192,444,380$ OPEB Plan Assets:

Money market funds 1,061,091 - -
Domestic equity funds 81,295,878 - -
Fixed income securities 48,231,171 - -
Real estate partnership 10,290,532 - -
Receivables:

Accounts 3,212 123,532 21,310,511
Restricted assets:

Cash and investments -- 79,496,227
Cash and investments with fiscal agents -5 2,668 318,926 Total Assets 140,881,884 6,468,260 293,570,044
Liabilities:

Accounts payable 5,981 34 5,531,487
Accrued liabilities - 744,748 1,718,027
Unearned revenues -- 48,830
Deposits payable -- 283,765
Due to Beneficiaries - 39,127,978 271,834,887
Total Liabilities 5,981 39,872,760 279,416,996
Net Position (Deficit):

Restricted for OPEB 140,875,903 - -
-( 3 3 , 4 0 4 , 5 0 0 ) 14,153,048
Total Net Position (Deficit) 140,875,903$ (33,404,500)$ 14,153,048$ Custodial Funds
Held in trust for private purposes, organizations and other governments
Other Post
Employment
Benefits Trust
Fund
Private-Purpose
Trust Funds
See Notes to Financial Statements.
46 CITY OF ROSEVILLE
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
Year Ended June 30, 2023
Additions:

Property taxes, net of pass through payments -$ 1,767,537$ 42,561,597$ Intergovernmental 13,334 - 523,016
Investment income 10,468,395 21,176 3,866,766
Contributions from City 9,874,065 - 56,167
Contributions from members -- 28,654,612
Miscellaneous -- 19,849,979
Total Additions 20,355,794 1,788,713 95,512,137
Deductions:

Retiree health plan benefits 8,938,257 - -
Administrative expenses 40,390 7,882 1,080,136
Contractual services - 131,124 -
Payments to beneficiaries - 886,305 91,607,943
Total Deductions 8,978,647 1,025,311 92,688,079
Changes in Net Position 11,377,147 763,402 2,824,058
Net Position - Beginning of the Year 129,498,756 (34,945,184) (439,094,220) Restatements - 777,282 450,423,210
Net Position - Beginning of the Year, as Restated 129,498,756 (34,167,902) 11,328,990 Net Position - End of the Year 140,875,903$ (33,404,500)$ 14,153,048$ Custodial Funds
Other Post
Employment
Benefits Trust
Fund
Private-Purpose
Trust Funds
See Notes to Financial Statements.
47 THIS PAGE INTENTIONALLY LEFT BLANK
48 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6

7KH&LW\RI5RVHYLOOH
&LW\
ZDVLQFRUSRUDWHGRQ$SULO

XQGHUSURYLVLRQVRI$FW
3$

DV DPHQGHG

+RPH5XOH&LW\
7KH&LW\RSHUDWHVXQGHUWKH&RXQFLO0DQDJHUI RUPRIJRYHUQPHQWDQGSURYLGHVWKH IROORZLQJ

VHUYLFHV
SXEOLFVDIHW\
SROLFHDQGILUH
VWUHHWVZDWHUZDVWHZDWHUZDVWHVHUYLFHVHOHFWULFORFDO WUDQVSRUWDWLRQ VFKRRODJHFKLOGFDUHJROIFRXUVHSDUNVDQGUHFUHDWLRQSXEOL FLPSURYHPHQWVSODQQLQJDQG ]RQLQJOLEUDULHV JHQHUDODGPLQLVWUDWLRQVHUYLFHVHFRQRPLFGHYHORSPHQWDQGKRXVLQJ 
7KHILQDQFLDOVWDWHPHQWVDQGDFFRXQWLQJSROLFLHVRIWKH&LW\FRQIRUPZLWKJHQHUDOO\DFFHSWHGDFFRXQWLQJ SULQFLSOHV LQWKH8QLWHG6WDWHVRI$PHULFDDSSOLFDEOHWRJRYHUQPHQWV7KH*RYHUQPHQWDO$FFRXQWLQJ6WDQGDUGV%RDUG *$6%

LVWKHDFFHSWHGVWDQGDUGVHWWLQJERG\IRUHVWDEOLVKLQJJRYHUQPHQWDODFFRXQWLQJDQGILQDQFLDO UHSRUWLQJSULQFLSOHV 6LJQLILFDQWDFFRXQWLQJSROLFLHVDUHVXPPDUL]HGEHORZ


$ 5HSRUWLQJ(QWLW\

7KHDFFRPSDQ\LQJEDVLFILQDQFLDOVWDWHPHQWVSUHVHQWWKHILQDQFLDODFWLYLW\RIWKH&LW\ZKLFKWKHSULPDU\JRYHUQPHQW SUHVHQWHGDORQJZLWKWKHILQDQFLDODFWLYLWLHVRILWVFRPSRQHQWXQLWVZKLFKDUHHQWLWLHVIRUZKLFK WKH&LW\LVILQDQFLDOO\ DFFRXQWDEOH$OWKRXJKWKH\DUHVHSDUDWHOHJDOHQWLWLHVEOHQGHGFRPSRQHQWXQLWVDUHLQVXEVWDQFHSDUWRIWKH&LW\¶V RSHUDWLRQVDQGDUHUHSRUWHGDVDQLQWHJUDOSDUWRIWKH&LW\¶VILQDQFLDOVWDWHPHQWV 7KH&LW\¶VFRPSRQHQWXQLWVZKLFK DUHGHVFULEHGEHORZDUHDOOEOHQGHGFRPSRQHQWXQLWV

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
7KH&LW\RI5RVHYLOOH+RXVLQJ$XWKRULW\ LVDVHSDUDWHJRYHUQPHQWHQWLW\ZKRVHSXUSRVHLVWRDVVLVWZLWK WKH KRXVLQJIRUWKH&LW\¶VH[WUHPHO\ORZDQGYHU\ORZLQFRPHUHVLGHQWV7KH$XWKRULW\LVFRQWUROOHGE\WKH&LW\DQG KDV WKHVDPHJRYHUQLQJERG\DVWKH&LW\ZKLFKDOVRSHUIRUPVDOODF FRXQWLQJDQGDGPLQLVWUDWLYHIXQFWLRQVIRUWKH $XWKRULW\7KHILQDQFLDODFWLYLWLHVRIWKH$XWKRULW\DUHLQFOXG HGLQWKH+RXVLQJ$XWKRULW\+RXVLQJ&KRLFH9RXFKHU 6SHFLDO5HYHQXH)XQG

7KH5RVHYLOOH1DWXUDO*DV)LQDQFLQJ$XWKRULW\LVD-RLQW([HUFLVH3RZHUV$JHQF\FUHDWHGRQ'HFHPEHU IRUWKHSXUSRVHRIDFTXLULQJILQDQFLQJDQGVXSSO\LQJQDWXUDOJ DVWRWKH&LW\RI5RVHYLOOH7KHPHPEHUVRIWKH $XWKRULW\DUHWKH&LW\RI5RVHYLOOHDQGWKHIRUPHU&LW\RI5RVHYLOOH5HGHYHORSPHQW$JHQF\7KH5RVHYLOOH1DWXUDO *DV)LQDQFLQJ$XWKRULW\LVJRYHUQHGE\DILYHPHPEHU%RDUG&LW \&RXQFLOVHUYHVDVWKHJRYHUQLQJERG\RIWKH $XWKRULW\DQGRIILFHUVRIWKH$XWKRULW\DUHHPSOR\HHVRIWKH&LW\7KHILQDQFLDODFWLYLWLHVRIWKH$XWKRULW\KDYH EHHQ LQFOXGHGLQWKHVHILQDQFLDOVWDWHPHQWVLQWKH5RVHYLOOH1DWXUDO*DV)LQDQFLQJ$XWKRULW\(QWHUSULVH)XQG 
7KH &LW\ RI 5RVHYLOOH 2WKHU 3RVW(PSOR\PHQW %HQHILWV 7UXVWLV JRYHUQHG E\ WKH &LW\¶V 5HVROXWLRQ DQGLV XVHGWRDFFRXQWIRUFRQWULEXWLRQVDQGLQYHVWPHQWLQFRPHUHVWULFWHGWRSD\PHGLFDOEHQHILWV%HQHILW DQGFRQWULEXWLRQSURYLVLRQVDUHHVWDEOLVKHGE\WKH&LW\&RXQFLO(OLJLELOLW\DFWXDULDOLQWHUHVWUDWHVDGPLQLVWUDWLRQDQG FHUWDLQRWKHUWDVNVDUHWKHUHVSRQVLELOLW\RIWKH&RXQFLOHVWDEOLVKHGE\WKHDERYHUHVROXWLRQ7KHILQDQFLDO DFWLYLWLHV RIWKHSODQKDYHEHHQLQFOXGHGLQWKHVHILQDQFLDOVWDWHPHQWVLQWKH2WKHU3RVW(PSOR\PHQW%HQHILWV 7UXVW)XQG 
7KH6XFFHVVRU$JHQF\WRWKH5HGHYHORSPHQW$JHQF\RIWKH&LW\RI5RV HYLOOH 6XFFHVVRU$JHQF\
 LVD
VHSDUDWH JRYHUQPHQWHQWLW\ZKLFKZDVFUHDWHGDIWHUWKHGLVVROXWLRQRIWKH&LW\RI5RVHYLOOH5HGHYHORSPHQW$JHQF\

5'$
 WRVHUYHDVDFXVWRGLDQIRUDVVHWVDQGWRZLQGGRZQWKHDIIDLUVRIWKH5'$7KH&LW\ZDVGHVLJQDWHGWRVHUYH DV WKH6XFFHVVRU $JHQF\ VXEMHFWWRFRQWURO RIDQ 2YHUVLJKW%RDUG 7KH 2YHUVLJKW%RDUGLVFRPSULVHGRI VHYHQ PHPEHUVRIWKHORFDODJHQFLHVWKDWVHUYHWKH5'$SURMHFW DUHD WZRDSSRLQWHGE\WKHPD\RUWZRE\WKH
&RXQW\RI3ODFHURQHE\WKH3ODFHU&RXQW\6XSHULQWHQGHQWRI6FKRROVRQHE\WKH&KDQFHOORURI6LHUUD&RPPXQLW\ &ROOHJHDQGRQHE\WKH&LWLHVRI5RFNOLQDQG1HZFDVWOHDQGWKH*ROG+LOO&HPHWHU\'LVWULFW7KHILQDQFLDO DFWLYLWLHV RIWKH6XFFHVVRU$JHQF\DUHLQFOXGHGLQWKH6XFFHVVRU$JHQF\WR WKH5HGHYHORSPHQW$JHQF\3ULYDWH 3XUSRVH 7UXVW)XQG
49 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&217,18('


)LQDQFLDO VWDWHPHQWV IRU WKH 5RVHYLOOH 1DWXUDO *DV )LQDQFLQJ $XWKRULW\ DQG WKH &LW\ RI 5RVHYLOOH 2WKHU 3RVW(PSOR\PHQW%HQHILWV7UXVWPD\EHREWDLQHG IURPWKH&LW\RI 5RVHYLOOHDW9HUQRQ6WUHHW5RVHYLOOH &DOLIRUQLD
6HSDUDWHILQDQFLDOVWDWHPHQWVIRU WKH5RVHYLOOH)LQDQFH$XWKRULW\5RVHYLOOH+RXVLQJ$XWKRULW\ DQGWKH6XFFHVVRU$JHQF\DUHQRWLVVXHG

7KH&DOLIRUQLD-RLQW3RZHUV5LVN0DQDJHPHQW$XWKRULW\WKH/RFDO$JHQF\:RUNHUV¶&RPSHQVDWLRQ([FHVV-RLQW 3RZHUV$XWKRULW\WKH+LJKZD\-RLQW3RZHUV$XWKRULW\DQGWKH6RXWK3ODFHU:DVWHZDWHU$XWKRULW\DUHQRW LQFOXGHGLQWKHDFFRPSDQ\LQJEDVLFILQDQFLDOVWDWHPHQWVEHFDXVHWKH\GRQRWPHHWWKHDERYHILQDQFLDODFFRXQWDELOLW\ FULWHULDDVWKHVHHQWLWLHVDUHDGPLQLVWHUHGE\JRYHUQLQJERDUGVVHSDUDWHIURPDQGZKROO\ LQGHSHQGHQWRIWKH&LW\ 
% %DVLVRI3UHVHQWDWLRQ

Government-wide Statements: 7KH6WDWHPHQWRI1HW3RVLWLRQDQGWKH6WDWHPHQWRI$FWLYLWLHVGLVSOD\ LQIRUPDWLRQ DERXWWKHSULPDU\JRYHUQPHQWWKH&LW\DQGLWVFRPSRQHQWXQLWV7KHVHVWDWHPHQWVLQFOXGHWKH ILQDQFLDODFWLYLWLHVRI WKHRYHUDOO&LW\JRYHUQPHQWH[FOXGLQJILGXFLDU\DFWLYLWLHV(O LPLQDWLRQVKDYHEHHQPDGHWR PLQLPL]HWKHGRXEOH FRXQWLQJRILQWHUQDODFWLYLWLHV+RZHYHUWKHLQWHUIXQGVHUYLFHVSURYLGHGDQGXVHGDUHQRW HOLPLQDWHGLQWKHSURFHVV RIFRQVROLGDWLRQ7KHVHVWDWHPHQWVGLVWLQJXLVKEHWZHHQWKHgovernmentalDQG business-type activities RIWKH&LW\ *RYHUQPHQWDODFWLYLWLHVJHQHUDOO\DUHILQDQFHGWKURXJKWD[HV LQWHUJRYHUQPHQWDOUHYHQXHVDQGRWKHUQRQH[FKDQJH WUDQVDFWLRQV%XVLQHVVW\SHDFWLYLWLHVDUHILQDQFHGLQ ZKROHRULQSDUWE\XVHUFKDUJHVDQGIHHVFKDUJHGWRH[WHUQDO SDUWLHV

7KH6WDWHPHQWRI$FWLYLWLHVSUHVHQWVDFRPSDULVRQEHWZHHQGLUHFWH[SHQVHVDQGSURJUDPUHYHQXHVIRUHDFK VHJPHQWRIWKHEXVLQHVVW\SHDFWLYLWLHVRIWKH&LW\DQGIRUHDFKIXQFWLRQRIWKH&LW\¶VJRYHUQPHQWDODFWLYLWLHV 'LUHFW H[SHQVHVDUHWKRVHWKDWDUHVSHFLILFDOO\DVVRFLDWHGZLWKDSURJUDPRUIXQFWLRQDQGWKHUHIRUHDUHFOHDUO\ LGHQWLILDEOH WRDSDUWLFXODUIXQFWLRQ3URJUDPUHYHQXHVLQFOXGH
D
FKDUJHVSDLGE\WKHUHFLSLHQWVRIJRRGVRU VHUYLFHVRIIHUHG E\WKHSURJUDPV
E
JUDQWVDQGFRQWULEXWLRQVWKDWDUHUHVWULFW HGWRPHHWLQJWKHRSHUDWLRQDO QHHGVRIDSDUWLFXODU SURJUDPDQG
F
IHHVJUDQWVDQGFRQWULEXWLRQVWKDWDUHUHVWULFWHGWRILQDQFLQJWKHDFTXLVLWLRQRUFRQVWUXFWLRQRIFDSLWDO DVVHWV5HYHQXHVWKDWDUHQRWFODVVLILHGDVSURJUDPUHYHQXHVL QFOXGLQJDOO WD[HVDUHSUHVHQWHGDVJHQHUDO UHYHQXHV&HUWDLQLQGLUHFWFRVWVDUHLQFOXGHGLQWKHSURJUDPH[SHQVHUHSRUWHG IRULQGLYLGXDOIXQFWLRQVDQGDFWLYLWLHV 
Fund Financial Statements: 7KHIXQGILQDQFLDOVWDWHPHQWVSURYLGHLQIRUPDWLRQDERXWWKH&LW\¶VIXQGVLQFOXGLQJ ILGXFLDU\ IXQGV DQG EOHQGHG FRPSRQHQW XQLWV 6HSDUDWH VWDWHPHQWV IRU HDFK IXQG FDWHJRU\²governmental, proprietary,DQGfiduciary²DUHSUHVHQWHG7KHHPSKDVLVRIIXQGILQDQFLDOVWDWHPHQWVLVRQPDMRUJRYHUQPHQWDO DQG HQWHUSULVHIXQGVHDFKRIZKLFKLVGLVSOD\HGLQDVHSDUDWHFROXPQ$OOUHPDLQLQJJRYHUQPHQWDODQGHQWHUSULVHIXQGV DUHDJJUHJDWHGDQGUHSRUWHGDVQRQPDMRUIXQGVLQWKHVXSSOHPHQWDOVHFWLRQ 
3URSULHWDU\IXQGRSHUDWLQJUHYHQXHVVXFKDVFKDUJHVIRUVHUYLF HVUHVXOWIURPH[FKDQJHWUDQVDFWLRQVDVVRFLDWHG ZLWKWKHSULQFLSDODFWLYLW\RIWKHIXQG([FKDQJHWUDQVDFWLRQVDUHWKRVHLQZKLFKHDFKSDUW\UHFHLYHVDQGJLYHVXS HVVHQWLDOO\ HTXDO YDOXHV 1RQRSHUDWLQJ UHYHQXHV VXFK DV VXEVLGLHV DQG LQYHVWPHQW HDUQLQJV UHVXOW IURP QRQH[FKDQJHWUDQVDFWLRQVRUDQFLOODU\DFWLYLWLHV

& 0DMRU)XQGV

0DMRUIXQGVDUHGHILQHGDVIXQGVWKDWKDYHHLWKHUDVVHWVDQGGHIHUUHGRXWIORZVRIUHVRXUFHVOLDELOLWLHVDQG GHIHUUHG LQIORZVRIUHVRXUFHVUHYHQXHVRUH[SHQGLWXUHVH[SHQVHVHTXDOWRWHQSHUFHQWRIWKHLUIXQGW\SHWRWDODQGILYHSHUFHQW RIWKHJUDQGWRWDO7KH*HQHUDO)XQGLVDOZD\VDPDMRUIXQG7KH&LW\PD\DOVRVHOHFWRWKHUIXQGVLWEHOLHYHVVKRXOG EHSUHVHQWHGDVPDMRUIXQGV

7KH&LW\UHSRUWHGWKHIROORZLQJPDMRUJRYHUQPHQWDOIXQGVLQWKHDFFRPSDQ\LQJILQDQFLDOVWDWHPHQWV 

*HQHUDO)XQG±7KLVLVXVHGDVWKHPDLQRSHUDWLQJJRYHUQPHQWDOIXQGRIWKH& LW\WRDFFRXQWIRUWKHJHQHUDO UHYHQXHVRIWKH&LW\QRWVSHFLILFDOO\OHYLHGRUFROOHFWHGIRURWKHU&LW\IXQGVDQGWKHUHODWHGH[SHQGLWXUHV7KH  *HQHUDO)XQGDFFRXQWVIRUDOOILQDQFLDOUHVRXUFHVRIDJRYHUQPH QWDOXQLWZKLFKDUHQRWDFFRXQWHGIRULQDQRWKHU IXQG
50 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&217,18('


7KH&LW\UHSRUWHGWKHIROORZLQJHQWHUSULVHIXQGVDVPDMRUIXQGVLQWKHDFFRPSDQ\LQJILQDQFLDOVWDWHPHQWV 

(OHFWULF)XQG±7KLVIXQGDFFRXQWVIRUDOOILQDQFLDOWUDQVDFWLRQVUHODWLQJWRWKH&LW\¶VHOHFWULFVHUYLFH6HUYLFHVDUH RQDXVHUFKDUJHEDVLVWRUHVLGHQWVDQGEXVLQHVVRZQHUVORFDWHGLQWKH&LW\ 
:DWHU)XQG±7KLVIXQGDFFRXQWVIRUDOOILQDQFLDOWUDQVDFWLRQVUHODWLQJWRWKH&LW\¶VZDWHUVHUYLFHV6HUYLFHVDUHRQ DXVHUFKDUJHEDVLVWRUHVLGHQWVDQGEXVLQHVVRZQHUVORFDWHGLQWKH&LW\ 
:DVWHZDWHU)XQG±7KLVIXQGDFFRXQWVIRUDOOILQDQFLDOWUDQVDFWLRQVUHODWLQJWRWKH&LW\¶VZDVWHZDWHUFROOHFWLRQ DQG WUHDWPHQW6HUYLFHVDUHRQDXVHUFKDUJHEDVLVWRUHVLGHQWVDQGEXVLQHVVRZQHUVORFDWHGLQWKH&LW\ 
:DVWH6HUYLFHV)XQG ±7KLVIXQGDFFRXQWVIRUDOOILQDQFLDOWUDQVDFWLRQVUHODWLQJWR WKH&LW\¶VZDVWHVHUYLFHV 6HUYLFHVDUHRQDXVHUFKDUJHEDVLVWRUHVLGHQWVDQGEXVLQHVVRZQHUVORFDWHGLQWKH&LW\ 
5RVHYLOOH1DWXUDO*DV)LQDQFLQJ$XWKRULW\±7KLVIXQGDFFRXQWVIRUILQDQFLQJDQGSXUFKDVLQJSUHSDLGQDWX UDO JDVIRUWKHJHQHUDWLRQRISRZHUIRUWKH5RVHYLOOH(QHUJ\3DUN 
7KH&LW\DOVRUHSRUWVWKHIROORZLQJIXQGV


6SHFLDO5HYHQXH)XQGV±7KHIXQGVDUHXVHGWRDFFRXQWIRUDQGUHSRUWWKHSURFHHGVRIVSHFLILFUHYHQXHVRXUFHV WKDWDUHUHVWULFWHGRUFRPPLWWHGWRH[SHQGLWXUHIRUVSHFLILHGSXUSRVHVRWKHUWKDQGHEWVHUYLFHRUFDSLWDOSURMHFWV 
&DSLWDO3URMHFWV)XQGV±7KHIXQGVDUHXVHGWRDFFRXQWIRUDQGUHSRUWILQDQFLDOUHVRXU FHVWKDWDUHUHVWULFWHG FRPPLWWHGRUDVVLJQHGWRH[SHQGLWXUHVIRUFDSLWDORXWOD\VLQFOXGLQJWKHDFTXLVLWLRQRUFRQVWUXFWLRQRIFDSLWDOIDFLOLWLHV DQGRWKHUFDSLWDODVVHWV

,QWHUQDO6HUYLFH)XQGV±7KHIXQGVDFFRXQWIRUDXWRPRWLYHIDFLOLWLHVVHUYLFHVLQIRUP DWLRQWHFKQRORJ\JHQHUDO HTXLSPHQWUHSODFHPHQWZRUNHUV¶FRPSHQVDWLRQJHQHUDOOLDELOLW\XQHPSOR\PHQWUHVHUYHDQGJHQHUDOEHQHILWV VXFK DVYLVLRQGHQWDODQGVHFWLRQEHQHILWVDOORIZKLFKDUHSURYLGHGWRRWKHUGHSDUWPHQWVRQDFRVW UHLPEXUVHPHQW EDVLV

)LGXFLDU\)XQGV±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
6RXWK3ODFHU
&RXQW\6DIH.LGV&RDOLWLRQ+LJKZD\-3$H[WHUQDOWUDIILFPLWLJDWLRQIHHVDQGRWKHUSURJUDPVIRUWKH EHQHILWVRI SDUWLHVRXWVLGHRIWKH&LW\7KHILQDQFLDODFWLYLWLHVRIWKHVHIXQGVDUHH[FOXGHGIURPWKHJRYHUQPHQWZLGHILQDQFLDO VWDWHPHQWEXWDUHSUHVHQWHGLQVHSDUDWH)LGXFLDU\)XQGILQDQFLDOVWDWHPHQWV 
' %DVLVRI$FFRXQWLQJ

7KH JRYHUQPHQWZLGH SURSULHWDU\ DQG ILGXFLDU\ IXQG ILQDQFLDO VWDWHPHQWV DUH UHSRUWHG XVLQJ WKH economic resources measurement focus DQGWKHaccrual basis RIDFFRXQWLQJ5HYHQXHVDUHUHFRUGHGZKHQHDUQHG DQG H[SHQVHVDUHUHFRUGHGDWWKHWLPHOLDELOLWLHVDUHLQFXUUHGUHJDUGOHVVRIZKHQWKHUHODWHGFDVKIORZVWDNHSODFH 
*RYHUQPHQWDOIXQGVDUHUHSRUWHGXVLQJWKHcurrent financial resources PHDVXUHPHQWIRFXVDQGWKHPRGLILHGDFFUXDO EDVLVRIDFFRXQWLQJ8QGHUWKLVPHWKRGUHYHQXHVDUHUHFRJQL]HGZKHQ measurable and available7KH &LW\ FRQVLGHUVDOOUHYHQXHVUHSRUWHGLQWKHJRYHUQPHQWDOIXQGVWREHDYDLODEOHLIWKHUHYHQXHVDUHFROOHFWHG ZLWKLQRQH 51 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&217,18('


KXQGUHGWZHQW\

GD\VDIWHU\HDUHQGZLWKWKHH[FHSWLRQRI SURSHUW\DQGVDOHVWD[HVZKLFKLV FRQVLGHUHG DYDLODEOHLIFROOHFWHGZLWKLQVL[W\

GD\V([SHQGLWXUHVDUHUHFRUGHGZKHQWKHUHODWHGIXQGOLDELOLW\ LVLQFXUUHG H[FHSWIRUSULQFLSDODQGLQWHUHVWRQJHQHUDOORQJWHUPGHEWFO DLPVDQGMXGJPHQWVDQGFRPSHQVDWHG DEVHQFHV ZKLFKDUHUHFRJQL]HGDVH[SHQGLWXUHVWRWKHH[WHQWWKH\KDYHPD WXUHG*HQHUDOFDSLWDODVVHW DFTXLVLWLRQVDUH UHSRUWHGDVH[SHQGLWXUHVLQJRYHUQPHQWDOIXQGV3URFHHGVRIJHQHUDOORQJWHUPGHEWDQG DFTXLVLWLRQVXQGHUOHDVHV DUHUHSRUWHGDVother financing sources

*RYHUQPHQWDOIXQGUHYHQXHVVXEMHFWWRDFFUXDODUHSURSHUW\VDO HVWD[WUDQVLHQWRFFXSDQF\WD[IUDQFKLVHIHHV FHUWDLQRWKHU LQWHUJRYHUQPHQWDOUHYHQXHVFHUWDLQFKDUJHVIRUVHUYLFHVDQGLQWHUHVWUHYHQXH)LQHVOLFHQVHVDQG SHUPLWVDQG FKDUJHVIRUVHUYLFHVDUHQRWVXEMHFWWRDFFUXDOEHFDXVHWKH\DUHQRWPHDVXUDEOHXQWLOUHFHLYHGLQFDVK 
1RQH[FKDQJHWUDQVDFWLRQVLQZKLFKWKH&LW\JLYHVRUUHFHLYHVYDOXHZLWKRXWGLUHFWO\UHFHLYLQJRUJLYLQJHTXDO YDOXH LQH[FKDQJHLQFOXGHWD[HVJUDQWVHQWLWOHPHQWVDQGGRQDWLRQV 2QWKHDFFUXDOEDVLVUHYHQXHIURPWD[HV LV UHFRJQL]HGLQWKHILVFDO\HDUIRUZKLFKWKHWD[HVDUHOHYLHGRU DVVHVVHG5HYHQXHIURPJUDQWVHQWLWOHPHQWV DQG GRQDWLRQVLVUHFRJQL]HGLQWKHILVFDO\HDULQZKLFKDOOHOLJLELOLW\UHTXLUHPHQWVKDYHEHHQVDWLVILHG 
7KH&LW\PD\IXQGSURJUDPVZLWKDFRPELQDWLRQRIFRVWUHLPEXUVHPHQWJUDQWVFDWHJRULFDOEORFNJUDQWVDQGJHQHUDO UHYHQXHV7KXVERWKUHVWULFWHGDQGXQUHVWULFWHGQHWSRVLWLRQPD\EHDYDLODEOHWRILQDQFHSURJUDPH[SHQGLWXUHV7KH &LW\¶VSROLF\LVWRILUVWDSSO\UHVWULFWHGJUDQWUHVRXUFHVWRVXFKSURJUDPVIROORZHGE\JHQHUDO UHYHQXHVLIQHFHVVDU\ 
( &DVK&DVK(TXLYDOHQWVDQG,QYHVWPHQWV

7KH&LW\SRROVLWVDYDLODEOHFDVKIRULQYHVWPHQWSXUSRVHV7KH&LW\FRQVLGHUVSRROHGFDVKDQGLQYHVWPHQWDPRXQWV ZLWKRULJLQDOPDWXULWLHVRIWKUHHPRQWKVRUOHVVWREHFDVKHTXLYDOHQWV+LJKO\OLTXLGPDUNHW LQYHVWPHQWVZLWK PDWXULWLHVRIRQH\HDURUOHVVDWWLPHRISXUFKDVHDUHVWDWHGDWDPRUWL]HGFRVWV$OORWKHU LQYHVWPHQWVDUHVWDWHGDW IDLUYDOXH)RUSXUSRVHVRIUHSRUWLQJFDVKIORZVWKH&LW\FRQVLGHUVHDFKIXQG¶VVKDUHLQ WKHFDVKDQGLQYHVWPHQWV SRROWREHFDVKDQGFDVKHTXLYDOHQWV

) 5HYHQXH5HFRJQLWLRQIRU(OHFWULF:DWHU:DVWHZDWHUDQG:DVWH6HUYLFHV)XQGV 
5HYHQXHVDUHUHFRJQL]HGEDVHGRQVHUYLFHVUHQGHUHGWRFXVWRPHUV$OOUHVLGHQWLDODQGFRPPHUFLDOXWLOLW\ FXVWRPHUV DUHELOOHGRQFHSHUPRQWK7KHUHDUHWZHQW\IRXUELOOLQJF\FOHVSHUPRQWKZKLFKLQFOXGHDOOW\SHVRIFXVWRPHUVEDVHG RQWKHLUORFDWLRQZLWKLQWKH&LW\5HYHQXHVIRUVHUYLFHVSURYLGHGEXWQRWELOOHGDWWKHHQGRID ILVFDO\HDUDUHDFFUXHG &RQWULEXWLRQVRIFDVKRUDVVHWVWRSURSULHWDU\IXQGVIURPVWDWH DQGIHGHUDODJHQFLHV GHYHORSHUVDQGRWKHUVDUH UHFRUGHGDVUHYHQXHDWDFTXLVLWLRQYDOXH

* 'HIHUUHG2XWIORZV,QIORZVRI5HVRXUFHV

,QDGGLWLRQWRDVVHWVWKHVWDWHPHQWRIQHWSRVLWLRQDQGEDODQFHVKHHWUHSRUWVDVHSDUDWHVHFWLRQIRUGHIHUUHGRXWIORZV RIUHVRXUFHV7KLVVHSDUDWHILQDQFLDOVWDWHPHQWHOHPHQWdeferred outflows of resourcesUHSUHVHQWVD FRQVXPSWLRQ RI QHW DVVHWV WKDW DSSOLHV WR D IXWXUH SHULRG DQG VR ZLOO QRW EH UHFRJQL]HG DV DQ RXWIORZ RI UHVRXUFHV

H[SHQVHH[SHQGLWXUH
 XQWLO WKHQ 7KH &LW\ KDV IRXU LWHPV WKDWTXDOLI\ IRU UHSRUWLQJ LQ WKLV FDWHJRU\ RQ WKH JRYHUQPHQWZLGHDQGSURSULHWDU\IXQGVWDWHPHQWVRIQHWSRVLWLRQ 7KH\DUHWKHGHIHUUHGDPRXQWVRQUHIXQGLQJ DFFXPXODWHGGHFUHDVHLQIDLUYDOXHRIKHGJLQJGHULYDWLYHVGHIH UUHGRXWIORZVUHODWHGWRRWKHUSRVWHPSOR\PHQW EHQHILWV
23(%
DQGGHIHUUHGRXWIORZVUHODWHGWRSHQVLRQV$G HIHUUHGDPRXQWRQUHIXQGLQJUHVXOWVIURPWKH GLIIHUHQFHLQWKHFDUU\LQJYDOXHRIUHIXQGHGGHEWDQGLWVUHDFTXLVLWLRQSULFH7KLV DPRXQWLVGHIHUUHGDQGDPRUWL]HG RYHUWKHVKRUWHURIWKHOLIHRIWKHUHIXQGHGRUUHIXQGLQJGHEW7KH DFFXPXODWHGGHFUHDVHLQIDLUYDOXHRIKHGJLQJ GHULYDWLYHVUHSUHVHQWVWKHFKDQJHLQIDLUYDOXHIRUWKH&LW\¶VGHULYDWLYHOLDELOLWLHVWKDWKDYHEHHQGHWHUPLQHGWREHQRW HIIHFWLYH7KHGHIHUUHGRXWIORZVUHODWHGWRSHQVLRQVDQG23(%DUHGHVFULEHGLQ1RWHDQG1RWHUHVSHFWLYHO\ 7KHGHIHUUHGOHDVHLWHPVDUHGHVFULEHGLQ1RWH


,QDGGLWLRQWROLDELOLWLHVWKHVW DWHPHQWRIQHWSRVLWLRQDQGE DODQFHVKHHWUHSRUWVDVHSDUDWHVHFWLRQIRUGHIHUUHG LQIORZVRIUHVRXUFHV7KLVVHSDUDWHILQDQFLDOVWDWHPHQWHOHPHQW deferred inflow of resources UHSUHVHQWVDQ DFTXLVLWLRQRIQHWDVVHWVWKDWDSSOLHVWRDIXWXUHSHULRGDQGV RZLOOQRWEHUHFRJQL]HGDVDQ LQIORZRIUHVRXUFHV 52 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&217,18('



UHYHQXH
XQWLOWKDWWLPH7KH&LW\KDVIRXUW\SHVRIWKHVHLWH PVUHSRUWHGLQWKHJRYHUQPHQWZLGHDQGSURSULHWDU\ IXQGVWDWHPHQWVRIQHWSRVLWLRQDQGWKHJRYHUQPHQWDOIXQGVEDODQFHVKHHW7KH\DUHWKH DFFXPXODWHGLQFUHDVHLQ IDLUYDOXHRIKHGJLQJGHULYDWLYHVGHIHUUHGLQIORZVUHODWHGWRSHQVLRQVWKHGHIHUUHG LQIORZVUHODWHGWR23(%DQG XQDYDLODEOHUHYHQXHV7KHDFFXPXODWHGLQFUHDVHLQIDLUYDOXHRIKHGJLQJGHULYDWLYHV UHSUHVHQWVWKHFKDQJHLQIDLU YDOXHIRUWKH&LW\¶VGHULYDWLYHDVVHWVWKDWKDYHEHHQGHWHUPLQHGWREHHIIHFWLYH 
7KHGHIHUUHGLQIORZVUHODWHGWRSHQVLRQVDQG23(%DUHGHVFULEHG LQ1RWHDQGUHVSHFWLYHO\8QDYDLODEOH UHYHQXHUHSUHVHQWVUHYHQXHVZKLFKKDVEHHQHDUQHGEXWZLOOQRWEHFROOHFWHGZLWKLQWKH&LW\¶VSHULRGRI DYDLODELOLW\ DVGHILQHGLQ1RWH'

,QWKHJRYHUQPHQWDOIXQGVEDODQFHVKHHWWKHXQDYDLODEOHUHYHQX HFDWHJRU\DULVHVRQO\XQGHUDPRGLILHGDFFUXDO EDVLVRIDFFRXQWLQJ:KHQDPRXQWVKDYHEHHQHDUQHGEXWKDYHQR WEHHQUHFHLYHGZLWKLQWKHDYDLODELOLW\SHULRG WKHVHDPRXQWVDUHGHIHUUHGDQGUHFRJQL]HGDVUHYHQXHLQWKHSHULRGWKDWWKHDPRXQWVEHFRPHDYDLODEOH 
+ 3URSHUW\7D[

3ODFHU&RXQW\DVVHVVHVSURSHUWLHVDQGELOOVFROOHFWVDQGGLVWULEXWHVSURSHUW\WD[HVWRWKH&LW\7KH&RXQW\ UHPLWV WKHHQWLUHDPRXQWOHYLHGDQGKDQGOHVDOOGHOLQTXHQFLHVUHWDLQLQJLQWHUHVWDQGSHQDOWLHV6HFXUHGDQG XQVHFXUHG SURSHUW\WD[HVDUHOHYLHGRQ-XO\VWRIWKHSUHFHGLQJILVFDO\HDU 
6HFXUHGSURSHUW\WD[LVGXHLQWZRLQVWDOOPHQWVRQ1RYHPEHUVWDQG)HEUXDU\VWDQGEHFRPHVDOLHQRQWKRVH GDWHV,WEHFRPHVGHOLQTXHQWRQ'HFHPEHUWKDQG$SULOWKU HVSHFWLYHO\8QVHFXUHGSURSHUW\WD[LVGXHRQ  -XO\VWDQGEHFRPHVGHOLQTXHQWRQ$XJXVWVW&ROOHFWLRQRIG HOLQTXHQWDFFRXQWVLVWKHUHVSRQVLELOLW\RIWKH &RXQW\ZKLFKUHWDLQVDOOSHQDOWLHV

7KHWHUP³XQVHFXUHG´UHIHUVWRWD[HVRQSHUVRQDOSURSHUW\RWKHUWKDQUHDOHVWDWHODQGDQGEXLOGLQJV7KHVH WD[HV DUHVHFXUHGE\OLHQVRQWKHSURSHUW\EHLQJWD[HG3URSHUW\WD[UHYHQXHVDUHUHFRJQL]HGE\WKH&LW\LQWKH ILVFDO\HDU WKH\DUHDVVHVVHGSURYLGHGWKH\EHFRPHDYDLODEOHDVGHILQHGDERYH 
, &RPSHQVDWHG$EVHQFHV

&RPSHQVDWHGDEVHQFHVFRPSULVHXQXVHGYDFDWLRQOHDYHYHVWHGVLFNSD\DQGFHUWDLQFRPSHQVDWHGWLPHRII ZKLFK DUHDFFUXHGDVHDUQHG7KH&LW\¶VOLDELOLW\IRUFRPSHQVDWHGDEVHQFHVLVUHFRUGHGLQYDULRXVJRYHUQPHQWDO IXQGVRU SURSULHWDU\ IXQGV DV DSSURSULDWH 7KH OLDELOLW\ IRU FRPSHQVDWHG DEVHQFHV LV GHWHUPLQHG DQQXDOO\ )RU DOO JRYHUQPHQWDOIXQGVDOLDELOLW\RIWKHVHDPRXQWVLVUHSRUWHGRQO\LIWKH\KDYHPDWXUHGIRUH[DPSOHDVDUHVXOW RI HPSOR\HHUHVLJQDWLRQVDQGUHWLUHPHQWV7KHUHPDLQLQJSRUWLRQLV UHFRUGHGDVDOLDELOLW\LQWKHVWDWHPHQWRI QHW SRVLWLRQ3URSULHWDU\IXQGV
OLDELOLW\IRUFRPSHQVDWHGDEVHQFHVLVUHFRUGHGLQHDFKSURSULHWDU\IXQG 
7KHFKDQJHVLQFRPSHQVDWHGDEVHQFHEDODQFHVZHUHDVIROORZV 



&RPSHQVDWHG DEVHQFHV DUH OLTXLGDWHG E\ WKH IXQG WKDW KDV UHFRUGHG WKH OLDELOLW\ *RYHUQPHQWDO DFWLYLWLHV FRPSHQVDWHGDEVHQFHVDUHOLTXLGDWHGSULPDULO\E\WKH*HQHUDO)XQG *RYHUQPHQWDO
$FWLYLWLHV
%XVLQHVV
$FWLYLWLHV 7RWDO

  
 
$GGLWLRQV 

 
 
3D\PHQWV







 
 
&XUUHQW3RUWLRQ 
 
 
%HJLQQLQJ%DODQFH
(QGLQJ%DODQFH
53 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&217,18('


- ,QYHQWRULHV

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

. 3UHSDLG,WHPV

&HUWDLQSD\PHQWVWRYHQGRUVUHIOHFWFRVWVDSSOLFDEOHWRIXWXUHDFFRXQWLQJSHULRGVDQGDUHUHFRUGHGDVSUHSDLGLWHPV ,QJRYHUQPHQWDOIXQGVSUHSDLGLWHPVDUHQRWLQVSHQGDEOHIRUPDQGDUHWKHUHIRUHLQFOXGHGLQ QRQVSHQGDEOHIXQG EDODQFHDQGUHFRUGHGRQWKHFRQVXPSWLRQPHWKRG

/ 8VHRI(VWLPDWHV

7KHSUHSDUDWLRQRIILQDQFLDOVWDWHPHQWVLQFRQIRUPLW\ZLWKJHQHUDOO\DFFHSWHGDFFRXQWLQJSULQFLSOHV *$$3
 UHTXLUHV
PDQDJHPHQWWRPDNHHVWLPDWHVDQGDVVXPSWLRQVWKDWDIIHFWWKHUHSRUWHGDPRXQWVDQGGLVFORVXUHV $FFRUGLQJO\ DFWXDOUHVXOWVFRXOGGLIIHUIURPWKRVHHVWLPDWHV

0 3HQVLRQV

)RUSXUSRVHVRIPHDVXULQJWKHQHWSHQVLRQOLDELOLW\GHIHUUHGRXWIORZVRIUHVRXUFHVDQGGHIHUUHGLQIORZVRIUHVRXUFHV UHODWHGWRSHQVLRQVDQGSHQVLRQH[SHQVHLQIRUPDWLRQDERXWWKHILGXFLDU\QHWSRVLWLRQRIWKH&LW\ V &DOLIRUQLD3XEOLF
(PSOR\HHV5HWLUHPHQW6\VWHP
&DO3(56
SODQDQGDGGLWLRQVWRGHGXFWLRQVIURPWKHSODQ
V ILGXFLDU\QHWSRVLWLRQ
KDYHEHHQGHWHUPLQHGRQWKHVDPHEDVLVDVWKH\DUHUHSRUWHGE\ &DO3(56)RUWKLV SXUSRVHEHQHILWSD\PHQWV

LQFOXGLQJUHIXQGVRIHPSOR\HHFRQWULEXWLRQV
DUHUHFRJQL]HGZKHQGXHDQGSD\DEOH LQDFFRUGDQFHZLWKWKHEHQHILW WHUPV,QYHVWPHQWVDUHUHSRUWHGDWIDLUYDOXH

1 2WKHU3RVWHPSOR\PHQW%HQHILWV
23(%


)RUSXUSRVHVRIPHDVXULQJWKHQHW23(%OLDELOLW\GHIHUUHGRXWIORZVRIUHVRXUFHVDQGGHIHUUHGLQIORZVRI UHVRXUFHV UHODWHGWR23(%DQG23(%H[SHQVHLQIRUPDWLRQDERXWWKHILGXFLDU\QHWSRVLWLRQRIWKH&LW\RI 5RVHYLOOH5HWLUHH +HDOWKFDUH3ODQ
3ODQ
DQGDGGLWLRQVWRGHGXFWLRQVIURPWKH3ODQ
VILGXFLDU\QHWSRVLWLRQKDYH EHHQGHWHUPLQHGRQ
WKHVDPHEDVLVDVWKH\DUHUHSRUWHGE\WKH3ODQ)RUWKLVSXUSRVHEHQHILWSD\PHQWV LQFOXGLQJUHIXQGVRIHPSOR\HH

FRQWULEXWLRQV
DUHUHFRJQL]HGZKHQGXHDQGSD\DEOHLQDFFRUGDQFHZLWKWKHEHQHILWWHUPV,QYHVWPHQWVDUHUHSRUWHG DWIDLUYDOXH

2 )DLU9DOXH0HDVXUHPHQW

7KH&LW\FDWHJRUL]HVWKHIDLUYDOXHPHDVXUHPHQWVRILWVLQYHVWPHQWVEDVHGRQWKHKLHUDUFK\HVWDEOLVKHGE\JHQHUDOO\ DFFHSWHGDFFRXQWLQJSULQFLSOHV7KHIDLUYDOXHKLHUDUFK\ZKLFKKDVWKUHHOHYHOVLVEDVHGRQWKH YDOXDWLRQLQSXWV XVHGWRPHDVXUHDQDVVHW¶VIDLUYDOXH
/HYHOLQSXWVDUHTXRWHGSULFHVLQDFWLYHPDUNHWVIRU LGHQWLFDODVVHWV 
/HYHOLQSXWVDUHVLJQLILFDQWRWKHUREVHUYDEOHLQSXWV
/HYHOLQSXWVDUHVLJQLILFDQW XQREVHUYDEOHLQSXWV

3 1HW3RVLWLRQ

1HWSRVLWLRQLVWKHH[FHVVRIDOOWKH&LW\¶VDVVHWVDQGGHIHUUHGRXWIORZVRIUHVRXUFHVRYHUDOOLWVOLDELOLWLHVDQGGHIHUUHG LQIORZVRIUHVRXUFHVUHJDUGOHVVRIIXQG1HWSRVLWLRQLVGLYLGHGLQWRWKUHHFDWHJRULHV7KHVHFDWHJRULHV DSSO\RQO\ WRQHWSRVLWLRQZKLFKLVGHWHUPLQHGRQO\IRUSURSULHWDU\IXQGVDQGDWWKHJRYHUQPHQWZLGHOHYHO DQGDUHGHVFULEHG EHORZ


Net investment in capital assetsGHVFULEHVWKHSRUWLRQRIQHWSRVLWLRQZKLFKLVUHSUHVHQWHGE\WKHFXUUHQWQHW ERRN YDOXHRIWKHFDSLWDODVVHWVOHVVWKHRXWVWDQGLQJEDODQFHRIDQ\GHEWLVVXHGWRILQDQFHWKHVHDVVHWV 54 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&217,18('


Restricted GHVFULEHVWKHSRUWLRQRIQHWSRVLWLRQZKLFKLVUHVWULFWHGDVWRXVHE\WKHWHUPVDQGFRQGLWLRQVRI DJUHHPHQWVZLWKRXWVLGH SDUWLHV JRYHUQPHQWDO UHJXODWLRQV ODZV RURWKHUUHVWULFWLRQVZKLFK WKH&LW\ FDQQRW XQLODWHUDOO\DOWHU7KHVHSULQFLSDOO\LQFOXGHGHYHORSHUIHHVUH FHLYHGIRUXVHRQFDSLWDOSURMHFWV H[SHQGHG
RU
FRQWULEXWLRQVUHFHLYHGLQSHUPDQHQWIXQGV
XQH[SHQGHG
GHEWVH UYLFHUHTXLUHPHQWVDQGUHGHYHORSPHQWIXQGV
UHVWULFWHGWRORZDQGPRGHUDWHLQFRPHSXUSRVHV

Unrestricted GHVFULEHVWKHSRUWLRQRIQHWSRVLWLRQZKLFKLVQRWUHVWULFWHGWRXVH 
7KH &LW\ DSSOLHV UHVWULFWHG UHVRXUFHV ZKHQ DQ H[SHQVH LV LQFXUUHG IRU SXUSRVHV ZKLFK ERWK UHVWULFWHG DQG XQUHVWULFWHGQHWSRVLWLRQDUHDYDLODEOH

4 )XQG%DODQFH

,QWKHIXQGILQDQFLDOVWDWHPHQWVIXQGEDODQFHVUHSUHVHQWWKHQ HWFXUUHQWDVVHWVRIHDFKIXQG1HWFXUUHQWDVVHWV JHQHUDOO\UHSUHVHQWDIXQG¶VDVVHWVDQGGHIHUUHGRXWIORZVRIUH VRXUFHVOHVVLWVOLDELOLWLHVDQGGHIHUUHGLQIORZVRI UHVRXUFHV

7KH&LW\¶VIXQGEDODQFHVDUHFODVVLILHGEDVHGRQVSHQGLQJFRQVW UDLQWVLPSRVHGRQWKHXVHRIUHVRXUFHV)RU SURJUDPVZLWKPXOWLSOHIXQGLQJVRXUFHVWKH&LW\SULRULWL]HVDQ GH[SHQGVIXQGVLQWKHIROORZLQJRUGHU UHVWULFWHG
FRPPLWWHGDVVLJQHGDQGXQDVVLJQHG(DFKFDWHJRU\LQWKHIROORZLQJKLHUDUFK\LVUDQNHGDFFRUGLQJWRWKHGHJUHHRI VSHQGLQJFRQVWUDLQW


Nonspendable UHSUHVHQWVEDODQFHVVHWDVLGHWRLQGLFDWHLWHPVGRQRWUHSUHVHQWDYDLODEOHVSHQGDEOHUHVRXUFHVHYHQ WKRXJKWKH\DUHDFRPSRQHQWRIDVVHWV)XQGEDODQFHVUHTXLUHGW REHPDLQWDLQHGLQWDFWVXFKDV SHUPDQHQW HQGRZPHQWVDQGDVVHWVQRWH[SHFWHGWREHFRQYHUWHGWRFDVKVXFKDVSUHSDLGVQRWHVUHFHLYDEOH DQGODQGKHOG IRUUHGHYHORSPHQWDUHLQFOXGHG+RZHYHULISURFHHGVUHDOL]HGIURPWKHVDOHRUFROOHFWLRQRI QRQVSHQGDEOHDVVHWV DUHUHVWULFWHGFRPPLWWHGRUDVVLJQHGWKHQQRQVSHQGDEOHDPRXQWVDUHUHTXLUHGWREHSUHVHQWHGDVDFRPSRQHQWRI WKHDSSOLFDEOHFDWHJRU\

Restricted IXQGEDODQFHVKDYHH[WHUQDOUHVWULFWLRQVLPSRVHGE\FUHGLWRUVJUDQWRUVFRQWULEXWRUVODZV UHJXODWLRQV RUHQDEOLQJOHJLVODWLRQZKLFKUHTXLUHVWKHUHVRXUFHVWREHXVHG RQO\IRUDVSHFLILFSXUSRVH (QFXPEUDQFHVDQG QRQVSHQGDEOHDPRXQWVVXEMHFWWRUHVWULFWLRQVDUHLQFOXGHGDORQJZLWKVSHQGDEOHUHVRXUFHV 
Committed IXQGEDODQFHVKDYHFRQVWUDLQWVLPSRVHGE\IRUPDODFWLRQRIWKH&LW\&RXQFLOVXFKDVDQRUGLQDQFH ZKLFKPD\EHDOWHUHGRQO\E\WKHVDPHIRUPDODFWLRQRIWKH&LW\&RXQFLO(QFXPEUDQFHVDQGQRQVSHQGDEOHDPRXQWV VXEMHFWWRFRXQFLOFRPPLWPHQWVDUHLQFOXGHGDORQJZLWKVSHQGDEOHUHVRXUFHV 
Assigned IXQGEDODQFHVDUHDPRXQWVLQWHQGHGWREHXVHGE\WKH&LW\IRUV SHFLILFSXUSRVHVEXWGRQRWPHHWWKH FULWHULDWREHFODVVLILHGDVFRPPLWWHG$VVLJQPHQWVPD\EHPDGHE\WKH&LW\&RXQFLORULWVGHVLJQHHWKH $VVLVWDQW &LW\0DQDJHU&KLHI)LQDQFLDO2IILFHU8QOLNHFRPPLWPHQWVDVVLJQPHQWVJHQHUDOO\RQO\H[LVW WHPSRUDULO\7KXV DGGLWLRQDODFWLRQGRHVQRWQRUPDOO\KDYHWREHWDNHQIRUWKHUHPRYDORIDQDVVLJQPHQW 
UnassignedIXQGEDODQFHUHSUHVHQWVUHVLGXDODPRXQWVWKDWKDYHQRWEHHQUHVWULFWHGFRPPLWWHGRUDVVLJQHG 7KLV LQFOXGHVWKHUHVLGXDO*HQHUDO)XQGEDODQFHDQGUHVLGXDOIXQGGHILFLWVLIDQ\RIRWKHUJRYHUQPHQWDOIXQGV 
,WLVWKH&LW\¶VSROLF\WRFRQVLGHUUHVWULFWHGIXQGEDODQFHWRKDYHEHHQGHSOHWHGEHIRUHXVLQJDQ\RIWKH FRPSRQHQWV RIXQUHVWULFWHGIXQGEDODQFH)XUWKHUZKHQWKHFRPSRQHQWVRIXQUHVWULFWHGIXQGEDODQFHFDQEH XVHGIRUWKHVDPH SXUSRVHFRPPLWWHGIXQGEDODQFHLVGHSOHWHGILUVWIROORZHGE\DVVLJQHGIXQGEDODQFH8QDVVLJQHGIXQGEDODQFHLV DSSOLHGODVW
55 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&217,18('


5 &DSLWDO$VVHWV

$OOFDSLWDODVVHWVDUHYDOXHGDWKLVWRULFDOFRVWRUHVWLPDWHGKLVWRULFDOFRVWLIDFWXDOKLVWRULFDOFRVWLVQRWDYDLODEOH &RQWULEXWHGFDSLWDODVVHWVDUHYDOXHGDWWKHLUHVWLPDWHGDFTXLV LWLRQYDOXHRQWKHGDWHFRQWULEXWHG7KH&LW\KDV UHFRUGHGDOOLWVSXEOLFGRPDLQ

LQIUDVWUXFWXUH
FDSLWDODVVHWVZKLFKLQFOXGHURDGVEULGJHVFXUEVDQGJXWWHUV VWUHHWV DQGVLGHZDONVGUDLQDJHV\VWHPVDQGOLJKWLQJV\VWHPV

&DSLWDODVVHWVZLWKOLPLWHGXVHIXOOLYHVDUHGHSUHFLDWHGRYHUWKHLUHVWLPDWHGXVHIXOOLYHV$OWHUQDWLYHO\WKH PRGLILHG DSSURDFKLVXVHGIRUFHUWDLQFDSLWDODVVHWV'HSUHFLDWLRQLVQRWSURYLGHGXQGHUWKLVDSSURDFKEXWDOOFRVWVDVVRFLDWHG ZLWKWKHVHDVVHWVDUHH[SHQVHGXQOHVVWKH\DUHDGGLWLRQVRULPSURYHPHQWV 
7KHSXUSRVHRIGHSUHFLDWLRQLVWRVSUHDGWKHFRVWRIFDSLWDODVVHWVHTXLWDEO\DPRQJDOOXVHUVRYHUWKHOLIHRIWKHVH DVVHWV7KHDPRXQWFKDUJHGWRGHSUHFLDWLRQH[SHQVHHDFK\HDUUHSUHVHQWVWKDW\HDU¶VSURUDWDVKDUHRIWKH FRVWRI FDSLWDODVVHWV

'HSUHFLDWLRQLVSURYLGHGXVLQJWKHVWUDLJKWOLQHPHWKRGZKLFKPHDQVWKHFRVWRIWKHDVVHWLVGLYLGHGE\LWV H[SHFWHG XVHIXOOLIHLQ\HDUVDQGWKHUHVXOWLVFKDUJHGWRH[SHQVHHDFK\HDUXQWLOWKHDVVHWLVIXOO\GHSUHFLDWHG 7KH&LW\KDV DVVLJQHGWKHXVHIXOOLYHVDQGFDSLWDOL]DWLRQWKUHVKROGVOLVWHGEHORZWRFDSLWDODVVHWV 



0DMRURXWOD\VIRUFDSLWDODVVHWVDQGLPSURYHPHQWVDUHFDSLWDOL]HGDVSURMHFWVDUHFRQVWUXFWHG 
8VHIXO/LYHV
&DSLWDOL]DWLRQ
7KUHVKROGV
\HDUV 
\HDUV QRWKUHVKROG
\HDUV 
\HDUV 
\HDUV 
\HDUV 
\HDUV 
\HDUV 

\HDUV 
\HDUV 
\HDUV 
\HDUV 
\HDUV 
\HDUV 
7UDIILF6LJQDOV \HDUV QRWKUHVKROG
(OHFWULF'LVWULEXWLRQV6\VWHP \HDUV QRWKUHVKROG 6HZHUDQG:DWHU'LVWULEXWLRQV6\VWHPV \HDUV QRWKUHVKROG (OHFWULF*HQHUDWLRQ \HDUV 
(OHFWULF3RZHU3ODQWVDQG6XEVWDWLRQ \HDUV  6HZHUDQG:DWHU7UHDWPHQW3ODQWV \HDUV  6RXQG:DOOV
6WRUP'UDLQV
/DQGVFDSLQJ
%LNH3DWKV
%ULGJHV
&XOYHUWV
&UDLQ,QOHWV
5RDGZD\0LQRU&RQFUHWH
3DUNV
%XLOGLQJV
,PSURYHPHQWV
(TXLSPHQW
&RPSXWHU(TXLSPHQW
9HKLFOHV
56 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6
&217,18('


6 1HZ$FFRXQWLQJ3URQRXQFHPHQWV

(IIHFWLYHLQ&XUUHQW)LVFDO<HDU

*$6%6WDWHPHQW1R
 ±,Q0D\WKH*$6%LVVXHG6WDWHPHQW1R
 Subscription-based Information
Technology Arrangements. 7KHREMHFWLYHRIWKLV6WDWHPHQWLVWRSURYLGHJXLGDQFHRQWKHDFFRXQWLQJDQG ILQDQFLDO UHSRUWLQJ IRU VXEVFULSWLRQEDVHG LQIRUPDWLRQ WHFKQRORJ\ DUUDQJHPHQWV 6%,7$V
 IRU JRYHUQPHQW HQG XVHUV

JRYHUQPHQWV
7KH6WDWHPHQWLVHIIHFWLYHIRUUHSRUWLQJSHULRGVEHJLQQLQJDIWHU-XQH7KHHIIHFWRQWKH&LW\ LVQRWHGLQQRWHV
DQG 

(IIHFWLYHLQ)XWXUH)LVFDO<HDUV

*$6%6WDWHPHQW1R

±,Q$SULOWKH*$6%LVVXHG6WDWHPHQW1R

 Omnibus 20227KH6WDWHPHQWLV
HIIHFWLYHIRUPXOWLSOHUHSRUWLQJSHULRGVGHSHQGLQJRQWKHUHTXLUHPHQWV7KH&LW\KDVQRWGHWHUPLQHGWKHHIIHFWRIWKLV 6WDWHPHQW

*$6%6WDWHPHQW1R ±,Q-XQHWKH*$6%LVVXHG6WDWHPHQW1R Compensated Absences7KH REMHFWLYHRIWKLV6WDWHPHQWLVWREHWWHUPHHWWKHLQIRUPDWLRQQ HHGVRIILQDQFLDOVWDWHPHQWXVHUVE\XSGDWLQJWKH UHFRJQLWLRQDQGPHDVXUHPHQWJXLGDQFHIRUFRPSHQVDWHGDEVHQFHV 7KDWREMHFWLYHLVDFKLHYHGE\DOLJQLQJWKH UHFRJQLWLRQ DQG PHDVXUHPHQW JXLGDQFH XQGHU DXQLILHG PRGHO DQGE\ DPHQGLQJFHUWDLQSUHYLRXVO\UHTXLUHG GLVFORVXUHV7KH6WDWHPHQWLVHIIHFWLYHIRUUHSRUWLQJSHULRGVEHJLQQLQJDIWHU'HFHPEHU7KH&LW\KDVQRW GHWHUPLQHGWKHHIIHFWRIWKLV6WDWHPHQW

127(
 &$6+$1',19(670(176 

7KH&LW\SRROVFDVKIURPDOOVRXUFHVDQGDOOIXQGVH[FHSWFHUWDLQVSHFLILFLQYHVWPHQWVZLWKLQIXQGVDQGFDVKZLWK ILVFDODJHQWVVRWKDWLWFDQEHLQYHVWHGDWWKHPD[LPXP\LHOGFRQVLVWHQWZLWKVDIHW\DQGOLTXLGLW\ZKLOH LQGLYLGXDO IXQGVFDQPDNHH[SHQGLWXUHVDWDQ\WLPH

7KH&LW\DQGLWVILVFDODJHQWVLQYHVWLQLQGLYLGXDOLQYHVWPHQWVDQGLQLQYHVWPHQWSRROV,QGLYLGXDOLQYHVWPHQWVDUH HYLGHQFHGE\VSHFLILFLGHQWLILDEOHSLHFHVRISDSHUFDOOHGVHFXULWLHVLQVWUXPHQWVRUE\DQHOHFWURQLFHQWU\ UHJLVWHULQJ WKHRZQHULQWKHUHFRUGVRIWKHLQVWLWXWLRQLVVXLQJWKHVHFXULW\FDOOHGWKHERRNHQWU\V\VWHP 
,QGLYLGXDOLQYHVWPHQWVDUHJHQHUDOO\PDGHE\WKH&LW\¶VILVFDODJHQWVDVUHTXLUHGXQGHULWVGHEWLVVXHV,QRUGHU WR PD[LPL]HVHFXULW\WKH&LW\HPSOR\VWKH7UXVW'HSDUWPHQWRIDE DQN DVWKH FXVWRGLDQRIDOO&LW\PDQDJHG LQYHVWPHQWVUHJDUGOHVVRIWKHLUIRUP

7KH&LW\¶VLQYHVWPHQWVDUHUHSRUWHGDWIDLUYDOXHDVUHTXLUHGE\JHQHUDOO\DFFHSWHGDFFRXQWLQJSULQFLSOHV7KH &LW\ DGMXVWVWKHFDUU\LQJYDOXHRILWVLQYHVWPHQWVWRUHIOHFWIDLUYDOXHDWHDFKILVFDO\HDUHQGDQGLWLQFOXGHVWKH HIIHFWV RIWKHVHDGMXVWPHQWVLQLQFRPHIRUWKDWILVFDO\HDU


57 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 &$6+$1',19(670(176
&217,18('


$ &ODVVLILFDWLRQ

&DVKDQGLQYHVWPHQWVDUHFODVVLILHGLQWKHILQDQFLDOVWDWHPHQWVDVVKRZQEHORZ 



&DVKDQGLQYHVWPHQWVZLWKRULJLQDOPDWXULWLHVRIWKUHHPRQWKVRUOHVVDUHWUHDWHGDVFDVKDQGHTXLYDOHQWVIRU SXUSRVHRISUHSDULQJ3URSULHWDU\)XQGVWDWHPHQWVRIFDVKIORZV$OVRHDFK3URSULHWDU\)XQG¶VSRUWLRQRIWKH &LW\¶V RYHUDOOFDVKDQGLQYHVWPHQWSRROLVWUHDWHGDVFDVKDQGHTXLYDOHQWVVLQFHWKHVHDPRXQWVDUHLQVXEVWDQFHGHPDQG GHSRVLWV


% ,QYHVWPHQWV$XWKRUL]HGE\WKH&DOLIRUQLD*RYHUQPHQW&RGHDQGWKH&LW\¶V,QYHVWPHQW3ROLF\ 
7KH&LW\¶V,QYHVWPHQW3ROLF\DQGWKH&DOLIRUQLD*RYHUQPHQW&RGHDOORZWKH&LW\WRLQYHVWLQWKHIROORZLQJ SURYLGHG WKHFUHGLWUDWLQJVRIWKHLVVXHUVDUHDFFHSWDEOHWRWKH&LW\ D QGDSSURYHGSHUFHQWDJHVDQGPDWXULWLHV DUHQRW
H[FHHGHG7KHWDEOHEHORZDOVRLGHQWLILHVFHUWDLQSURYLVLRQVRI WKH&DOLIRUQLD*RYHUQPHQW&RGHRUWKH &LW\¶V ,QYHVWPHQW3ROLF\ZKHUHLWLVPRUHUHVWULFWLYH

0D[LPXP
0DWXULW\
0LQLPXP
&UHGLW4XDOLW\
0D[LPXP
3HUFHQWDJHRI
3RUWIROLR
0D[LPXP
,QYHVWPHQWLQ
2QH,VVXHU
\HDUV 1RQH 1RQH 1RQH
86$JHQFLHV6HFXULWLHV



\HDUV 1RQH 1RQH 1RQH
1$ $ 1RQH 1RQH
\HDUV 1RQH 1RQH 1$
<HDU 1RQH 1RQH 1RQH
'D\V 1RQH  
'D\V $  



\HDUV $  1RQH
\HDUV 1RQH  1RQH
\HDUV $  1RQH
/RFDO$JHQF\,QYHVWPHQW)XQG
/$,)
 1$ 1RQH 1RQH /$,)/LPLW
1$ 1RQH 1RQH 1RQH
1$ 1RQH  
6KDUHVLQD&DOLIRUQLD&RPPRQ/DZ7UXVW 1$ 1RQH 1RQH 1RQH ,QWHUHVW5DWH6ZDSV



1$ 1RQH 1RQH 1RQH
6XSUDQDWLRQDOV \HDUV $$  1RQH
0RUWJDJH3DVV7KURXJK6HFXULWLHV \HDUV $$  1RQH
,QVXUHG6DYLQJV$FFRXQWV
0RQH\0DUNHW0XWXDO)XQGV
%DQNHUV
$FFHSWDQFH
&RPPHUFLDO3DSHU
0HGLXP7HUP1RWHV
&ROODWHUDOL]HG7LPH'HSRVLW
1HJRWLDEOH&HUWLILFDWHRI'HSRVLW
5HSXUFKDVH$JUHHPHQWV
$XWKRUL]HG,QYHVWPHQW7\SH
867UHDVXU\2EOLJDWLRQV



)RUZDUG'HOLYHU\$JUHHPHQWV
/RFDO$JHQF\%RQGV

&DVKDQGLQYHVWPHQWLQ&LW\7UHDVXU\ 





)LGXFLDU\)XQGV
VHSDUDWHVWDWHPHQW

&DVKDQGLQYHVWPHQWVLQ&LW\7UHDVXU\ 

5HVWULFWHGFDVKDQGLQYHVWPHQWVZLWKILVFDODJHQWV 

7RWDOFDVKDQGLQYHVWPHQWV 

&DVKDQGLQYHVWPHQWVDVRI-XQHFRQVLVWRIWKHIROORZLQJ

&DVKLQEDQNDQGRQKDQG 


,QYHVWPHQWV 
7RWDOFDVKDQGLQYHVWPHQWV 

3ULPDU\*RYHUQPHQW

5HVWULFWHGFDVKDQGLQYHVWPHQWVZLWKILVFDODJHQWV
7RWDOFLW\FDVKDQGLQYHVWPHQWVZLWKSULPDU\JRYHUQPHQW 58 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 &$6+$1',19(670(176
&217,18('




,QVSHFLILHGIXQGDFFRXQWVZKHUHOLTXLGLW\LVQRWWKHSULPDU\LQYHVWPHQWREMHFWLYHWKHPD[LPXP PDWXULW\FDQEH XSWRWHQ\HDUVZLWKJUDQWHGH[SUHVVDXWKRULW\E\WKH&LW\&RXQ FLO6XFKLQYHVWPHQWV FDQQRWEHPDGHOHVVWKDQ WKUHHPRQWKVIROORZLQJWKHDSSURYDORIH[WHQGHGLQYHVWPHQWWHUP V$OO ORQJHUWHUPLQYHVWPHQWVPXVWEH)HGHUDO 7UHDVXU\RU$JHQF\VHFXULWLHV7KHVSHFLILHGIXQGDFFRXQWV DUH 

x &LW\3RROVXEMHFWWR
x &LWL]HQV%HQHILW3HUPDQHQW)XQG
x 5RVHYLOOH$TXDWLFV&RPSOH[0DLQWHQDQFH)XQG
x (QGRZPHQW3ULYDWH3XUSRVH7UXVW)XQG
x 23(%7UXVW)XQG
x $OOIXWXUHWUXVWDQGRUHQGRZPHQWIXQGVHVWDEOLVKHGE\WKH&LW\ZLWKQRDQWLFLSDWHGXVHRISULQFLSDO 


(OLJLEOHFRPPHUFLDOSDSHUPD\QRWUHSUHVHQWPRUHWKDQRIWKHRXWVWDQGLQJSDSHURIDQLVVXLQJFRUSRUDWLRQ 


,QWHUHVW UDWH VZDSV PD\ RQO\ EH XVHG LQ FRQMXQFWLRQ ZLWK HQWHUSULVH IXQG GHEW RU LQYHVWPHQWV QRW WKH  *HQHUDO)XQG3XUVXDQWWRLWVIXQFWLRQDVFXVWRGLDQDQGLQYHVWP HQWPDQDJHURIWKH6RXWK3ODFHU :DVWHZDWHU $XWKRULW\
$XWKRULW\
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

& ,QYHVWPHQWV$XWKRUL]HGE\'HEW$JUHHPHQWV

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


0D[LPXP
0DWXULW\
0LQLPXP&UHGLW
4XDOLW\
1$ 1RQH
86$JHQFLHV6HFXULWLHV 1$ 1RQH
1$GD\V 1RQHWR$
1$GD\V 1RQHWR$
1$GD\V 1RQHWR$
1$GD\V 1RQHWR$
1$ 1RQHWR$DP*
1$ 1RQH
GD\V $WR$$
1$ $$
3UHUHIXQGHG0XQLFLSDO2EOLJDWLRQV 1$ $$$
1$ $$$
1$ 1RQH
&DOLIRUQLD$VVHW0DQDJHPHQW3RRO
&$03
1$ 1RQH
/DZIXO,QYHVWPHQWV 1$ 1RQH
,QYHVWPHQW$JUHHPHQWV 1$ $WR$$
/RFDO$JHQF\,QYHVWPHQW)XQG
/$,)
1$ 1RQH
3ODFHU&RXQW\,QYHVWPHQW3RRO 1$ 1RQH
6XSUDQDWLRQDOV 1$ 1RQH
0RUWJDJH3DVV7KURXJK6HFXULWLHV 1$ 1RQH
0XQLFLSDO2EOLJDWLRQV
&RPPRQ/DZ7UXVW
%DQNHUV
$FFHSWDQFH
0RQH\0DUNHW)XQGV
7D[DEOH*RYHUQPHQWDO0RQH\
&RPPHUFLDO3DSHU
6SHFLDO5HYHQXH%RQGV
5HSXUFKDVH$JUHHPHQWV
$XWKRUL]HG,QYHVWPHQW7\SH
867UHDVXU\2EOLJDWLRQV
&HUWLILFDWHVRI'HSRVLW
7LPH'HSRVLWV
59 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 &$6+$1',19(670(176
&217,18('


' ,QWHUHVW5DWH5LVN

,QWHUHVWUDWHULVNLVWKHULVNWKDWFKDQJHVLQPDUNHWLQWHUHVWUDWHVZLOODGYHUVHO\DIIHFWWKHIDLUYDOXHRIDQLQYHVWPHQW 1RUPDOO\WKHORQJHUWKHPDWXULW\RIDQLQYHVWPHQWWKHJUHDWHUWKHVHQVLWLYLW\RILWVIDLUYDOXHWR FKDQJHVLQPDUNHW LQWHUHVWUDWHV7KH&LW\DOVRPDQDJHVLWVLQWHUHVWUDWHULVNE\KROGLQJPRVWLQYHVWPHQWVWR PDWXULW\ 
,QIRUPDWLRQDERXWWKHVHQVLWLYLW\RIWKHIDLUYDOXHVRIWKH&LW \¶VLQYHVWPHQWV LQFOXGLQJLQYHVWPHQWVKHOGE\ERQG

WUXVWHHV
WRPDUNHWLQWHUHVWUDWHIOXFWXDWLRQVLVSURYLGHGE\WKHIROORZLQJWDEOHWKDWVKRZVWKHGLVWULEXWLRQRIWKH &LW\¶V LQYHVWPHQWVE\PDWXULW\RUHDUOLHVWFDOOGDWH




7KH&LW\LVDYROXQWDU\SDUWLFLSDQWLQWKH/RFDO$JHQF\,QYHVWPHQW)XQG /$,)
WKDWLVUHJXODWHGE\&DOLIRUQLD
*RYHUQPHQW&RGH6HFWLRQ
XQGHUWKHRYHUVLJKWRIWKH7UHDVXUHURIWKH6WDWHRI&DOLIRUQLD7KH&LW\UHSRUWV LWV LQYHVWPHQWLQ/$,)DWWKHIDLUYDOXHDPRXQWSURYLGHGE\/$,)ZKLFKLVWKHVDPHDVWKHYDOXHRIWKHSRROVKDUH $W -XQHWKHIDLUYDOXHZDV
OHVVWKDQWKH&LW\¶VFRVW7KHEDODQFHLVDYDLODEOHIRUZLWKGUDZDO RQ GHPDQGDQGLVEDVHGRQWKHDFFRXQWLQJUHFRUGVPDLQWDLQHGE\/$,)ZKLFKDUHUHFRUGHGRQDQDPRUWL]HGFRVWEDVLV ,QFOXGHGLQ/$,)¶VLQYHVWPHQWSRUWIROLRDUHFROODWHUDOL]HGPRUWJDJHREOLJDWLRQVPRUWJDJHEDFNHGVHFXULWLHVRWKHU DVVHWEDFNHGVHFXULWLHVORDQVWRFHUWDLQVWDWHIXQGVDQGIORD WLQJUDWHVHFXULWLHVLVVXHG E\IHGHUDODJHQFLHV JRYHUQPHQWVSRQVRUHGHQWHUSULVHV8QLWHG6WDWHV7UHDVXU\1RWHVDQG%LOOVDQG FRUSRUDWLRQV$W-XQH WKHVHLQYHVWPHQWVPDWXUHGLQDQDYHUDJHRIGD\V/$,)LVQRWUHJLVWHUHGZLWK WKH6HFXULWLHVDQG([FKDQJH &RPPLVVLRQDQGLVQRWUDWHG

7KH&LW\LVDSDUWLFLSDQWLQWKH&DOLIRUQLD$VVHW0DQDJHPHQW3URJUDP &$03
&$03LVDQLQYHVWPHQWSRRORIIHUHG
E\WKH&DOLIRUQLD$VVHW0DQDJHPHQW7UXVW
7UXVW
7KH7UXVWLVDMRLQWSRZHUVDXWKRULW\DQGSXEOLF DJHQF\FUHDWHG E\WKH'HFODUDWLRQRI7UXVWDQGHVWDEOLVKHGXQGHUWKHSURYLVLRQ VRIWKH&DOLIRUQLD-RLQW([HUFLVH RI3RZHUV$FW

&DOLIRUQLD*RYHUQPHQW&RGH6HFWLRQVHWVHTRUWKH³$FW´ IRUWKHSXUSRVHRIH[HUFLVLQJWKH FRPPRQSRZHU
RILWV3DUWLFLSDQWVWRLQYHVWFHUWDLQSURFHHGVRIGHEWLVVXHVDQGVXUSOXVIXQGV7KH3RRO¶V LQYHVWPHQWVDUHOLPLWHGWR LQYHVWPHQWVSHUPLWWHGE\VXEGLYLVLRQV
D
WR
Q
LQFOXVLYHRI6HFWLRQRIWKH &DOLIRUQLD*RYHUQPHQW&RGH 7KH&LW\UHSRUWVLWVLQYHVWPHQWVLQ&$03DWWKHIDLUYDOXHDPRXQWVSURYLGHGE\ &$03ZKLFKLVWKHVDPHDVWKH YDOXHRIWKHSRROVKDUH$W-XQHWKHIDLUYDOXHDSSUR[LPDWHGLVWKH&LW\¶VFRVWDQGWKHVHLQYHVWPHQWVKDG DQDYHUDJHPDWXULW\RIGD\V&$03LVQRWUHJLVWHUHGZLWKWKH 6HFXULWLHVDQG([FKDQJH&RPPLVVLRQDQGLVQRW UDWHG

0RQH\PDUNHWPXWXDOIXQGVZHUHDYDLODEOHIRUZLWKGUDZDORQGHPDQGDQGDW-XQHDQGKDGDQDYHUDJH PDWXULW\RIGD\VIRUWKH'UH\IXV867UHDVXU\0RQH\0DUNHW)XQGDQGGD\VIRUWKH)LUVW$PHULFDQ0RQH\ 0DUNHW)XQG

0RQWKVRU
/HVV
WR
0RQWKV
WR
0RQWKV
0RUH7KDQ
0RQWKV 7RWDO

 
  
 



     

      
    

     



     

       
 
 

     



     




     

     5HPDLQLQJ0DWXULW\
LQ0RQWKV

)HGHUDO$JHQF\6HFXULWLHV
&RPPHUFLDO3DSHU
)RUZDUG3XUFKDVH$JUUHPHQW
/RFDO$JHQF\%RQGV
&RUSRUDWH1RWHV
0RQH\PDUNHW0XWXDO)XQGV
5RVHYLOOH$GYDQWDJH%DQNV
*XDUDQWHHG,QYHVWPHQW&RQWUDFWV
*,&

2WKHU3RVW(PSOR\PHQW%HQHILWV
23(%

/RFDO$JHQF\,QYHVWPHQW)XQG
&DOLIRUQLD$VVHW0DQDJHPHQW3RRO
7RWDO
60 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 &$6+$1',19(670(176
&217,18('


( &UHGLW5LVN

&UHGLWULVNLVWKHULVNWKDWDQLVVXHURIDQLQYHVWPHQWZLOOQRWIXOILOOLWVREOLJDWLRQWRWKHKROGHURIWKHLQYHVWPHQW 7KLV LVPHDVXUHGE\WKHDVVLJQPHQWRIDUDWLQJE\DQDWLRQDOO\UHFRJQL]HGVWDWLVWLFDOUDWLQJRUJDQL]DWLRQ 
3UHVHQWHGEHORZLVWKHDFWXDOUDWLQJDVRI-XQHIRUH DFKLQYHVWPHQWW\SHDVSURYLGHGE\6WDQGDUGDQG 3RRU¶VLQYHVWPHQWUDWLQJV\VWHP




) &RQFHQWUDWLRQRI&UHGLW5LVN

,QYHVWPHQWVLQDQ\RQHLVVXHURWKHUWKDQ867UHDVXU\VHFXUL WLHVPRQH\PDUNHWPXWXDOIXQGVDQGLQYHVWPHQW SRROV WKDW UHSUHVHQW  SHUFHQW RU PRUH RI WRWDO HQWLW\ZLGH LQY HVWPHQWV DUH DV IROORZV DW -XQH




,QYHVWPHQWVLQDQ\RQHLVVXHUWKDWUHSUHVHQWSHUFHQWRUPRUH RIWRWDOLQYHVWPHQWVE\LQGLYLGXDOIXQGVZHUHDV IROORZVDW-XQH



$$$$$$P $$$$$$ $$$ 7RWDO
Investments:
)HGHUDO$JHQF\6HFXULWLHV       )RUZDUG3XUFKDVH$JUHHPHQW       
 
/RFDO$JHQF\%RQGV       &RUSRUDWH1RWHV        
&DOLIRUQLD$VVHW0DQDJHPHQW3URJUDP 

      

7RWDO 

  

  

  
 
Not Rated:
/RFDO$JHQF\,QYHVWPHQW)XQG 



/RFDO$JHQF\%RQGV 

0RQH\0DUNHW0XWXDO)XQGV 


5RVHYLOOH$GYDQWDJH%DQNV 


*XDUDQWHHG,QYHVWPHQW&RQWUDFWV 
2WKHU3RVW(PSOR\PHQW%HQHILWV
23(%


867UHDVXU\DQG$JHQF\2EOLJDWLRQV 
 
7RWDOLQYHVWPHQWV 
,QYHVWPHQW7\SH $PRXQW RI3RUWIROLR
)HGHUDO)DUP&UHGLW%DQN )HGHUDODJHQF\VHFXULWLHV
  
)HGHUDO+RPH/RDQ%DQN )HGHUDODJHQF\VHFXULWLHV    )HGHUDO$JULFXOWXUDO0RUWJDJH&RUSRUDWLRQ
)$0&
)HGHUDODJHQF\ VHFXULWLHV     
,VVXHU
,VVXHU ,QYHVWPHQW7\SH $PRXQW
0DMRU(QWHUSULVH)XQGV

5RVHYLOOH1DWXUDO*DV)LQDQFLQJ$XWKRULW\ :DFKRYLD%DQN )RUZDUG3 XUFKDVH$JUHHPHQW  
)XQG
61 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 &$6+$1',19(670(176
&217,18('


* )DLU9DOXH0HDVXUHPHQWV

7KH&LW\¶V3RROFDWHJRUL]HVLWVIDLUYDOXHPHDVXUHPHQWVZLWKLQ WKHIDLUYDOXHKLHUDUFK\HVWDEOLVKHGE\JHQHUDOO\ DFFHSWHGDFFRXQWLQJSULQFLSOHV7KHVHSULQFLSOHVUHFRJQL]HDWKUHHWLHUHGIDLUYDOXHKLHUDUFK\DVIROORZV 

x /HYHO
,QYHVWPHQWVUHIOHFWSULFHVTXRWHGIRULGHQWLFDODVVHWVLQDFWLYHPDUNHWV 
x /HYHO
,QYHVWPHQWVUHIOHFWSULFHVWKDWDUHEDVHGRQDVLPLODUREVHUYDEOHLQSXWV 
x /HYHO
,QYHVWPHQWVUHIOHFWSULFHVEDVHGRQXQREVHUYDEOHLQSXWV 
7KHDVVHW¶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¶V SHUFHLYHGULVNRIWKDWLQYHVWPHQW7KH3RRO¶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¶VPHDVXUHGIDLU YDOXHRILWVSURSRUWLRQDWHVKDUHLQWKHVHW\SHVRILQYHVWPHQWVLVEDVHGRQXQFDWHJRUL]HGLQSXWV QRWGHILQHGDVD /HYHO/HYHORU/HYHOLQSXW

7KH3RROKDVWKHIROORZLQJUHFXUULQJIDLUYDOXHPHDVXUHPHQWVDVRI-XQH 


7RWDO
4XRWHG3ULFHVLQ$FWLYH
0DUNHWVIRU,GHQWLFDO$VVHWV

/HYHO

6LJQLILFDQW2WKHU
2EVHUYDEOH,QSXWV

/HYHO

6LJQLILFDQW
8QREVHUYDEOH,QSXWV

/HYHO

)HGHUDO$JHQF\6HFXULWLHV 


   


  
)HGHUDO$JHQF\6HFXULWLHV6KRUW7HUP         &RPPHUFLDO3DSHU       &RUSRUDWH0HGLXP7HUP1RWHV
071
6HFXULWLHV       0XQLFLSDO6HFXULWLHV        )RUZDUG3XUFKDVH$JUHHPHQWV 
       
3RVW(PSOR\PHQW:HOIDUH%HQHILWV3URJUDP7UXVW    

 
 
0RQH\0DUNHW0XWXDO)XQGV 

 

     7RWDO,QYHVWPHQWVDW)DLU9DOXH 

       ,QYHVWPHQWVPHDVXUHDWDPRUL]HGFRVW
*XDUDQWHHG,QYHVWPHQW&RQWUDFWV
*,&
V
 
,QYHVWPHQWVZLWKXQFDWHJRUL]HGLQSXWV
/RFDO$JHQF\,QYHVWPHQW)XQG 



&DOLIRUQLD$VVHW0DQDJHPHQW3URJUDP 

 
5RVHYLOOH$GYDQWDJH%DQN 


7RWDOLQYHVWPHQWVPHDVXUHGZLWKXQFDWHJRUL]HGLQSXWV  7RWDOLQYHVWPHQWV  
,QYHVWPHQWVDW)DLU9DOXH
62 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 ,17(5)81'75$16$&7,216

$ 7UDQVIHUV$PRQJ)XQGV

:LWK&LW\&RXQFLODSSURYDOUHVRXUFHVPD\EHWUDQVIHUUHGIURPRQH&LW\IXQGWRDQRWKHU7UDQVIHUVEHWZHHQ IXQGV GXULQJWKHILVFDO\HDUHQGHG-XQHZHUHDVIROORZV 

)XQG5HFHLYLQJ7UDQVIHU )XQG0DNLQJ7UDQVIHU $PRXQW7UDQVIHUUHG Governmental Funds:
*HQHUDO)XQG
(OHFWULF)XQG 

&

1RQ0DMRU*RYHUQPHQWDO)XQGV 
$

%

Total General Fund 
1RQ0DMRU*RYHUQPHQWDO)XQGV
*HQHUDO)XQG 
$

(OHFWULF)XQG 

%

:DWHU)XQG 

%

:DVWHZDWHU)XQG 
%

&

6ROLG:DVWH)XQG 

%

&

1RQ0DMRU*RYHUQPHQWDO)XQGV 
$

%

Total Non-Major Governmental Funds 
Total Governmental Funds 
Enterprise Funds:
(OHFWULF)XQG
1RQ0DMRU*RYHUQPHQWDO)XQGV 
%

:DWHU)XQG
1RQ0DMRU*RYHUQPHQWDO)XQGV 
%

:DVWHZDWHU)XQG
:DWHU)XQG 
%

1RQ0DMRU*RYHUQPHQWDO)XQGV 
%

6ROLG:DVWH)XQG
*HQHUDO)XQG 
$

1RQ0DMRU*RYHUQPHQWDO)XQGV 
%

Total Solid Waste Fund

1RQ0DMRU(QWHUSULVH)XQGV
*HQHUDO)XQG 
$

1RQ0DMRU*RYHUQPHQWDO)XQGV 
%



Total Enterprise Funds 


Internal Service Funds:
)OHHW)XQG
(OHFWULF)XQG 

$

:DWHU)XQG 
$

:DVWHZDWHU)XQG 
$

6ROLG:DVWH)XQG 
$

1RQ0DMRU*RYHUQPHQWDO)XQGV 
%


)DFLOLWLHV)XQG
1RQ0DMRU*RYHUQPHQWDO)XQGV 
%

,QIRUPDWLRQ7HFKQRORJ\)XQG
1RQ0DMRU*RYHUQPHQWDO)XQGV 

%

8QHPSOR\PHQW5HVHUYH
1RQ0DMRU*RYHUQPHQWDO)XQGV 
%

*HQHUDO%HQHILWV
1RQ0DMRU*RYHUQPHQWDO)XQGV 
%

Total Internal Service Funds 
7RWDO,QWHUIXQG7UDQVIHUV 


$
7UDQVIHUVWRIXQGRSHUDWLRQV

%
7UDQVIHUVWRIXQGYDULRXVSURMHFWVDQGRUSD\GHEWVHUYLFH

&
7UDQVIHUVWRIXQGLQOLHXIUDQFKLVHIHHV

'
7UDQVIHUVRIFDSLWDODVVHWVEHWZHHQIXQGV
63 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 ,17(5)81'75$16$&7,216
&217,18('


% &XUUHQW,QWHUIXQG%DODQFHV

&XUUHQWLQWHUIXQGEDODQFHVDULVHLQWKHQRUPDOFRXUVHRIEXVLQH VVDQGDUHH[SHFWHGWREHUHSDLGVKRUWO\DIWHUWKH HQGRIWKHILVFDO\HDU$W-XQHLQWHUIXQGEDODQFHVFRPSULVHGWKHIROORZLQJ 



& /RQJ7HUP,QWHUIXQG$GYDQFHV

$W-XQHWKHIXQGVEHORZKDGPDGHDGYDQFHVZKLFKZHUHQRWH[SHFWHGWREHUHSDLGZLWKLQWKHQH[W \HDU 



*ROI&RXUVHDGYDQFHIURPWKH)OHHW)XQGEHDUVLQWHUHVWDWWKHSULRUILVFDO\HDU¶VDYHUDJHLQWHUHVWUDWHRIWKH &LW\¶V SRROHGLQYHVWPHQWV3ULQFLSDOLVSDLGDQQXDOO\LQWKHDPRXQWRIZLWKWKHILQDOSULQFLSDOSD\PHQW LQILVFDO \HDU6LPSOHLQWHUHVWLVGHIHUUHGIRUWKHOLIHRIWKHORDQDQGDOXPSVXPGHIHUUHGLQWHUHVWSD\RIILV GXHLQILVFDO \HDU$VRI-XQHWKHDFFUXHGGHIHUUHGLQWHUHVWSD\DEOHQRWLQFOXGHGLQWKHDGYDQFH DPRXQWLQWKH WDEOHDERYHLV

'HYHORSPHQW,PSDFWKDVWZRDGYDQFHVIURPWKH*HQHUDO)XQGWKDWEHDUVLQWHUHVWDWWKHSULRUILVFDO\HDU¶VDYHUDJH LQWHUHVWUDWHRIWKH&LW\¶VSRROHGLQYHVWPHQWV7KHILUVWDGYDQFHKDVSULQFLSDOSD\PHQWVRI DQG LQWHUHVW
DUHEHLQJSDLGRYHUWKHSHULRGEHJLQQLQJLQILVFDO\HDUDQGHQGLQJLQILVFDO\HDU7KHVHFRQG DGYDQFH KDVSULQFLSDODQGLQWHUHVWWKDWDUHGHIHUUHGXQWLOILVFDO\HDU'HIHUUHGLQWHUHVWLVDGGHGWRWKH SULQFLSDOEDODQFH DQQXDOO\DVLQFXUUHG%HJLQQLQJLQILVFDO\HDUSULQFLSDORI DQGLQWHUHVWDUH SD\DEOHRYHUVHYHQ\HDUV
ZLWKILQDOSD\PHQWLQILVFDO\HDU

$PRXQW
*RYHUQPHQWDO)XQGV
1RQ0DMRU*RYHUQPHQWDO)XQGV

1RQ0DMRU*RYHUQPHQWDO)XQGV *HQHUDO)XQG   $

%

,QWHUQDO6HUYLFH)XQGV  
$

7RWDO*RYHUQPHQWDO)XQGV  
1RQ0DMRU,QWHUQDO6HUYLFH)XQGV *HQHUDO)XQG   %

7RWDO*RYHUQPHQWDO)XQGV 
 
(QWHUSULVH)XQGV
1RQ0DMRU(QWHUSULVH)XQGV ,QWHUQDO6HUYLFH)XQGV   $

7RWDO(QWHUSULVH)XQGV  



$
&XUUHQWSRUWLRQRIWKHDGYDQFHVPHQWLRQHGLQ&EHORZ

%
7RFRYHUQHJDWLYHFDVKEDODQFHVDVRI-XQH
'XHWR2WKHU)XQGV 'XH)URP2WKHU)XQGV
$PRXQWRI$GYDQFH
*RYHUQPHQWDO)XQGV
1RQ0DMRU*RYHUQPHQWDO)XQGV *HQHUDO)XQG   ,QWHUQDO6HUYLFH)XQGV 


 
7RWDO*RYHUQPHQWDO)XQGV 

(QWHUSULVH)XQGV
1RQ0DMRU(QWHUSULVH)XQGV ,QWHUQDO6HUYLFH)XQGV   

)XQG5HFHLYLQJ$GYDQFH )XQG0DNLQJ$GYDQFH
64 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 ,17(5)81'75$16$&7,216
&217,18('


'HYHORSPHQW,PSDFWKDVWZRDGYDQFHVIURPWKH)OHHW)XQG7KHILUVWDGYDQFHEHDUVL QWHUHVWDWWKHSULRUILVFDO \HDU¶VDYHUDJHLQWHUHVWUDWHRIWKH&LW\¶VSRROHGLQYHVWPHQWVS OXVRQHKDOISHUFHQW,QWHUHVWRQO\SD\PHQWVZHUH PDGHWKHILUVWWKUHH\HDUVRIWKHDGYDQFHEHJLQQLQJLQILVFDO\HDU3ULQFLSDOSD\PHQWVRISOXV LQWHUHVW DUHEHLQJSDLGRYHUDQ\HDUWHUPEHJLQQLQJLQILVFDO\HDU DQGHQGLQJLQILVFDO\HDU7KH VHFRQG DGYDQFHEHDUVLQWHUHVWDWWKHSULRUILVFDO\HDU¶VLQWHUHVWUDWHRIWKH&LW\¶VSRROHGLQYHVWPHQWV3ULQFLSDO DQGLQWHUHVW ZLOOEHSDLGDQQXDOO\RYHUVL[\HDUVVWDUWLQJLQILVFDO\HDUZLWKWKHILQDOSD\PHQWLQILVFDO\HDU  
6FKRRO$JH&KLOG&DUHDGYDQFHIURPWKH)OHHW)XQGEHDUVLQWHUHVWDWWKHSULRUILVFDO\HDU¶VDYHUDJHLQWHUHVWUDWH RIWKH&LW\¶VSRROHGLQYHVWPHQWV,QILVFDO\HDUWZRSULRU DGYDQFHVDQGRQHQHZDGYDQFHZHUH FRQVROLGDWHGLQWRRQHWRWDODGYDQFH3ULQFLSDODQGLQWHUHVWSD\PHQWVDUHEHLQJSDLGRYHUD\HDUWHUP EHJLQQLQJ LQILVFDO\HDUDQGHQGVLQILVFDO\HDU,QILVFDO\HD UZDVDGGHG3ULQFLSDODPRXQW UHSD\PHQWVDUHDQQXDOO\

' ,QWHUQDO%DODQFHV

,QWHUQDOEDODQFHVDUHSUHVHQWHGLQWKH&LW\ZLGHILQDQFLDOVWDW HPHQWVRQO\7KH\UHSUHVHQWWKHQHWLQWHUIXQG UHFHLYDEOHV DQG SD\DEOHV UHPDLQLQJ DIWHU WKH HOLPLQDWLRQ RI DOO VXFK EDODQFHV ZLWKLQ JRYHUQPHQWDO DQG EXVLQHVV W\SHDFWLYLWLHV

127(
 5(&(,9$%/(6 

7KH&LW\QHWVLWV$FFRXQWV,QWHUHVWDQG'XH)URP2WKHU$JHQF\UHFHLYDEOHVWRJHWKHUDQGSUHVHQWVWKLVDPRXQW DV 5HFHLYDEOHVLQWKHILQDQFLDOVWDWHPHQWV7KHVHVHSDUDWHUHFHLYDEOHVDUHFODVVLILHGEHORZIRUWKH*RYHUQPHQWDO DQG 3URSULHWDU\IXQGV



*HQHUDO
1RQ0DMRU
*RYHUQPHQWDO
)XQGV
7RWDO
*RYHUQPHQWDO
)XQGV
*RYHUQPHQWDO
$FWLYLWLHV
,QWHUQDO
6HUYLFH)XQGV
7RWDO
*RYHUQPHQWDO
$FWLYLWLHV
$FFRXQWVUHFHLYDEOHV 
        7D[HVUHFHLYDEOH 


     ,QWHUHVWUHFHLYDEOH  
 
  
   
7RWDO 
  

    

 
(OHFWULF :DWHU :DVWHZDWHU
:DVWH
6HUYLFHV
1RQ0DMRU
(QWHUSULVH
)XQGV7RWDO 7RWDOV
$FFRXQWVUHFHLYDEOHV  


       7D[HVUHFHLYDEOH            ,QWHUHVWUHFHLYDEOH       

  
3HUPLWVUHFHLYDEOHV         

7RWDO 


  
   
  
%XVLQHVV7\SH$FWLYLWLHV(QWHUSULVH)XQGV
65 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 127(65(&(,9$%/( 

7KH&LW\HQJDJHVLQSURJUDPVGHVLJQHGWRHQFRXUDJHEXVLQHVVHQW HUSULVHVFRQVWUXFWLRQRULPSURYHPHQWLQ ORZ WRPRGHUDWHLQFRPHKRXVLQJRURWKHUSURMHFWV8QGHUWKHVH SURJUDPVJUDQWVRUORDQVDUHSURYLGHGZLWK IDYRUDEOHWHUPVWREXVLQHVVHVKRPHRZQHUVRUGHYHORSHUVZKRDJUHHWRVSHQGWKHVHIXQGVLQDFFRUGDQFHZLWK WKH &LW\¶VWHUPV$OWKRXJKWKHVHQRWHVDUHH[SHFWHGWREHUHSDLGLQIXOOWKHLUEDODQFHVKDYHEHHQRIIVHWLQWKH IXQG ILQDQFLDOVWDWHPHQWVE\XQDYDLODEOHUHYHQXHGXHWRRWKHUJRYHUQPHQWDJHQFLHVRUIXQGEDODQFH1RWHVUHFHLYDEOH ZHUHFRPSULVHGRIWKHIROORZLQJDW-XQH



$ )ORRG/RDQ1RWHV5HFHLYDEOH

7KH&LW\KDVSURYLGHGQRWHVWRYDULRXVKRPHRZQHUVDQGEXVLQHVVH VIRUUHKDELOLWDWLRQGXHWRIORRGGDPDJH7KH PD[LPXPQRWHDPRXQWLVFDUU\LQJYDULRXVLQWHUHVWUDWHVD QGSD\PHQWGDWHV7KHEDODQFHRIWKHVHQRWHV UHFHLYDEOHDW-XQHZDV

% +RXVLQJ(OHYDWLRQ1RWHV5HFHLYDEOH

,QILVFDO\HDU

WKH)HGHUDO(PHUJHQF\0DQDJHPHQW$JHQF\
) (0$
DSSURYHG+D]DUG0LWLJDWLRQ*UDQW
3URJUDPIXQGVWREHXVHGIRUUHVLGHQWLDOKRPHHOHYDWLRQSURMHFWVLQWKH&LW\DWDPD[LPXPRISHUKRXVHKROG ZLWKWKHWRWDOIHGHUDOVKDUHQRWWRH[FHHG

7KH&LW\SURYLGHGPDWFKLQJIXQGVWRHDFK HOLJLEOHKRXVHKROG DWDPD[LPXPRILQWKHIRUPRID]HURSHUFHQWGHIHUUHGORDQSD\DEOHXSRQVDOH FKDQJHRIWLWOHRUFKDQJHRI XVH$VRI-XQHWZRQRWHVIXQGHGWKURXJKWKH)(0$+D]DUG0LWLJDWLRQ *UDQW3URJUDPZHUHRXWVWDQGLQJ ZLWKDWRWDOEDODQFHRI

& :DWHU0HWHU1RWHV5HFHLYDEOH

7KH&LW\HQWHUHGLQWRDQDJUHHPHQWZLWK6WRQHVIDLU0DQDJHPHQWIRU:DWHU0HWHU,QVWDOODWLRQVDW:LQGVFDSH $SDUWPHQWV7KHRULJLQDOQRWHDPRXQWLVSD\DEOHLQPRQWKO\LQVWDOOPHQWV7KHEDODQFHRIQRWHDW-XQH ZDV


' )ORRG&RQWURO/RDQ

2Q0D\WKH&LW\HQWHUHGLQWRDQDJUHHPHQWZLWKWKH3ODFHU&RXQW\)ORRG&RQWURODQG:DWHU &RQVHUYDWLRQ 'LVWULFWWRIXQGWKH$QWHORSH&UHHN)ORRG&RQWUROSURMHFWZLWKDORDQWREHSDLGEDFNZLWKIXWXUH GHYHORSPHQWIHHV 7KHORDQEHDUVVLPSOHLQWHUHVWEDVHGRQWKH&RQVWUXFWLRQ&RVW,QGH[$VRI-XQHWKHEDODQFHRIWKHORDQ ZDV
)ORRG/RDQ1RWHV 
+RXVLQJ(OHYDWLRQ1RWHV 
:DWHU0HWHU1RWHV5HFHLYDEOH 

)ORRG&RQWURO/RDQ 
63:$/RDQ 
)LUVW7LPH+RPH%X\HU1RWHV 

'XH)URP6XFFHVVRU$JHQF\ 

+RXVLQJ5HKDELOLWDWLRQDQG$IIRUGDEOH+RXVLQJ1RWHV  6PDOO%XVLQHVV6WDELOL]DWLRQ3URJUDP
6%63

7RWDO 

66 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 127(65(&(,9$%/(
&217,18('


( 63:$/RDQ

,Q-XQHWKH&LW\HQWHUHGLQWRORDQDJUHHPHQWVZLWKWKH6WDWH:DWHU5HVRXUFHV&RQWURO%RDUGWRVHFXUHIXQGLQJ IRUWKH3OHDVDQW*URYH:DVWHZDWHU7UHDWPHQW3ODQW([SDQVLRQDQG(QHUJ\5HFRYHU\3URMHFWVLQWKHIRUPRIORDQV IURPWKH&OHDQ:DWHU6WDWH5HYROYLQJ)XQG7KH&LW\WKHQHQWHUHGLQWRDUHLPEXUVHPHQWDJUHHPHQWZLWKWKH 6RXWK3ODFHU:DVWHZDWHU$XWKRULW\DVWKH$XWKRULW\LVUHVSRQVLEOHIRUWKHFRPSOHWLRQRIWKHVHSURMHFWV7KHORDQVDUH DSSURYHGIRUXSWREHDULQWHUHVWDWWKHUDWHRIDQGDUHSD\DEOHLQDQQXDOSD\PHQWVEHJLQQLQJ RQ-XQH7RWDOIXQGVGUDZQRQWKHORDQVDW-XQHZDV 
) )LUVW7LPH+RPH%X\HU1RWHV5HFHLYDEOH

7KH &LW\ HQJDJHV LQ D ILUVWWLPHKRPHEX\HU SURJUDP GHVLJQHG WR HQFRXUDJH KRPH RZQHUVKLS DPRQJ ORZ LQFRPHUHVLGHQWV8QGHUWKLVSURJUDPJUDQWVDUHSURYLGHGDWQRLQWHUHVWDQGDUHGXHXSRQVDOHRUWUDQVIHURI WKHSURSHUW\$OWKRXJKWKHVHQRWHVDUHH[SHFWHGWREHUHSDLGLQIXOOWKHLUEDODQFHKDVEHHQRIIVHWZLWKGHIHUUHGLQIORZ RIUHVRXUFHVDVWKH\DUHQRWH[SHFWHGWREHUHSDLGGXULQJWKHQH[WILVFDO\HDUDQGDQ\ UHSD\PHQWVZLOOEHXVHGWR UHGXFHIXWXUHJUDQWGUDZGRZQVE\WKH&LW\7KHEDODQFHRIWKH QRWHVUHFHLYDEOH DULVLQJIURPWKLVSURJUDPDW -XQHZDV


* 6XFFHVVRU$JHQF\/RDQV

3ULRUWR-XO\WKHIRUPHU5HGHYHORSPHQW$JHQF\KDGUHFH LYHGYDULRXVDGYDQFHVIURPYDULRXV&LW\IXQGV 7KHVHDGYDQFHVERUHLQWHUHVWDWWKHDYHUDJHLQWHUHVWUDWHRIWKH&LW\¶VSRROHGLQYHVWPHQWV3ULQFLSDODQGDFFUXHG LQWHUHVWRQWKHDGYDQFHVWRWDOHGDW-XO\'XULQJILVFDO\HDUWKH&LW\DQG 5HGHYHORSPHQW $JHQF\GHWHUPLQHGWKDWFHUWDLQDGYDQFHVVKRXOGKDYHLQVWHDGEHH QIXQGHGE\ERQGSURFHHGVRIWKH$JHQF\ 7KHUHIRUHWKH5HGHYHORSPHQW$JHQF\UHSDLGDGYDQFHVIURPWKH&L W\LQWKHDPRXQWRI SULRUWRWKH
GLVVROXWLRQRIWKH$JHQF\RQ-DQXDU\

:LWKWKHGLVVROXWLRQRIWKH$JHQF\HIIHFWLYH)HEUXDU\WKH6XFFHVVRU$JHQF\DVVXPHGWKHEDODQFHRIWKH REOLJDWLRQWRUHSD\WKHDGYDQFHVLQWKHDPRXQWRI I RUSULQFLSDODQGDFFUXHGLQWHUHVWDQGUHFRUGHGD
QRWHVSD\DEOHWRWKH/RZDQG0RGHUDWH,QFRPH+RXVLQJ$VVHW)XQGHTXDOWRWZHQW\SHUFHQWRIWKHEDODQFHRI WKH QRWHV'XULQJILVFDO\HDUWKH6WDWH'HSDUWPHQWRI)LQDQFHGHQLHGWKHSUHSDLGDGYDQFHDQGUHTXLUHGWKHUHWXUQ RI
WRWKH6XFFHVVRU$JHQF\7KH*HQHUDO)XQGUHWXUQHGWKHFDVKWRWKH6XFFHVVRU$JHQF\GXULQJILVFDO \HDU7KH6XFFHVVRU$JHQF\UHFHLYHGLWV)LQGLQJRI&RPSOHWLRQLQ$XJXVWGHWHUPLQLQJ WKDWQRWHVDUH HQIRUFHDEOHREOLJDWLRQV

'XULQJILVFDO\HDUWKH6XFFHVVRU$JHQF\FRPSOHWHGLWV/RQJ5DQJH3URSHUW\0DQDJHPHQW3ODQZKLFKZDV DSSURYHGE\WKH'HSDUWPHQWRI)LQDQFHLQ0D\DQGDVDUHVX OWWKH6XFFHVVRU$JHQF\WUDQVIHUUHGODQGWKDW ZDVGHVLJQDWHGIRUJRYHUQPHQWDOXVHWRWKH&LW\LQWKHDPRXQWRI$VDUHVXOWRIWKHWUDQVIHUWKH &LW\ FDQFHOOHGWKHQRWHVWKDWKDGEHHQPDGHWRWKHIRUPHU5HGHYHORSPHQW$JHQF\IRUWKHSXUFKDVHRIWKRVHSURSHUWLHV LQFOXGLQJDFFUXHGLQWHUHVWLQWKHDPRXQWRI


'XULQJILVFDO\HDUWKH'HSDUWPHQWRI)LQDQFHFODULILHGKRZWKHLQWHUHVWLVWREHFDOFXODWHGRQHDFKQRWHWR WKH 6XFFHVVRU$JHQF\7KH&LW\UHFDOFXODWHGWKHLQWHUHVWGXHRQWKHQRWHVXVLQJWKHUHYLVHGJXLGDQFHDQGDVD UHVXOW WKHLQWHUHVWUHFHLYDEOHZDVUHGXFHGE\7KHSULQFLSD OEDODQFHRIWKHQRWHVDVRI-XQH LV 


+ +RXVLQJ5HKDELOLWDWLRQDQG$IIRUGDEOH+RXVLQJ1RWHV5HFHLYDEOH 
7KH&LW\HQJDJHVLQSURJUDPVGHVLJQHGWRHQFRXUDJHFRQVWUXFWLRQRULPSURYHPHQWLQORZWRPRGHUDWHLQFRPH KRXVLQJ RU RWKHU SURMHFWV 8QGHU WKHVH SURJUDPV JUDQWV RU QRWHV DUH SURYLGHG XQGHU IDYRUDEOH WHUPV WR KRPH RZQHUVRUGHYHORSHUVZKRDJUHHWRVSHQGWKHVHIXQGVLQDF FRUGDQFHZLWKWKH&LW\¶VRU$JHQF\¶VWHUPV $OWKRXJK WKHVHQRWHVDUHH[SHFWHGWREHUHSDLGLQIXOOWKHLUE DODQFHKDVEHHQRIIVHWZLWKDGHIHUUHGLQIORZRI UHVRXUFHVDV WKH\DUHQRWH[SHFWHGWREHUHSDLGGXULQJWKHQH[WILVFDO\HDUDQGDQ\UHSD\PHQWVZLOOEHXVHGWR UHGXFHIXWXUH JUDQWGUDZGRZQVE\WKH&LW\:LWKWKHGLVVROXWLR QRIWKH$JHQF\HIIHFWLYH)HEUXDU\WKH 67 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 127(65(&(,9$%/(
&217,18('


DVVHWVRIWKH /RZDQG0RGHUDWH,QFRPH+RXVLQJ)XQGLQFOXGLQJD IIRUGDEOHKRXVLQJQRWHVUHFHLYDEOHZHUH DVVXPHGE\WKH /RZDQG0RGHUDWH,QFRPH+RXVLQJ$VVHW)XQG7KHEDODQFHRIWKHQRWHVUHFHLYDEOHDULVLQJIURP WKHVHSURJUDPV DW-XQHZDV

127(
 '(9(/23(53(50,7)((65(&(,9$%/( 

7KH&LW\KDVHQWHUHGLQWRDQXPEHURIDJUHHPHQWVZLWKGHYHORSHUVWRGHIHUSHUPLWIHHVIRUYDULRXVSURMHFWV ZLWKLQ WKH&LW\$OWKRXJKWKHVHIHHVDUHH[SHFWHGWREHUHSDLGLQIXOOWKHLUEDODQFHKDVEHHQRIIVHWE\ XQDYDLODEOHUHYHQXH LQJRYHUQPHQWDOIXQGVDVWKH\DUHQRWH[SHFWHGWREHUHSDLGHDUO\HQRXJKWREHUHSRUWHG DVDFXUUHQWDVVHW7KH UHFHLYDEOHZDVYDOXHGDWDW-XQH 
127(
 '(9(/230(17$*5((0(176 

7KH&LW\PD\HQWHULQWRGHYHORSPHQWDJUHHPHQWVLQDQHIIRUWWRSURYLGHLQFHQWLYHVWRGHYHORSQHZEXVLQHVVHV DQG QHZWD[UHYHQXHV7KHVXEVWDQFHRIWKHVHDJUHHPHQWVLVWKDWGHYHORSHUVRURWKHUSXEOLFDJHQFLHVZLOOEH SDLGD SRUWLRQRIIXWXUHVDOHVWD[RUWUDIILFPLWLJDWLRQIHHUHYHQXHVSURGXFHGE\WKHLUGHYHORSPHQWV7KHVH SD\PHQWVDUH FRQGLWLRQHGRQWKHJHQHUDWLRQRIVDOHVWD[UHYHQXHVRUWUDIILFPLWLJDWLRQIHHUHYHQXHVE\WKHVH GHYHORSPHQWVDQG WKH&LW\LVQRWUHTXLUHGWRXVHDQ\RWKHUUHVRXUFHVWRSD\WKHVHDPRXQWV 
68 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 &$3,7$/$66(76

$ &DSLWDO$VVHW$GGLWLRQV5HWLUHPHQWVDQG7UDQVIHUV 
&DSLWDODVVHWDFWLYLW\IRUWKH\HDUHQGHG-XQHZDVDVIROORZV 



%DODQFH %DODQFH
-XO\ $GGLWLRQV 'HOHWLRQV 7UDQVIHUV -XQH *RYHUQPHQWDODFWLYLWLHV

&DSLWDODVVHWVQRWEHLQJGHSUHFLDWHGDPRUWL]HG
/DQG          

(DVHPHQWV
/DQG
           6WUHHWV          &RQVWUXFWLRQLQSURJUHVV   

  

  





 
7RWDOFDSLWDODVVHWVQRWEHLQJGHSUHFLDWHGDPRUWL]HG    
     
  
&DSLWDODVVHWVEHLQJGHSUHFLDWHGDPRUWL]HG
%XLOGLQJV 

          

,PSURYHPHQWV 

    
   
 

9HKLFOHVDQG(TXLSPHQW


    



 

 
3DUNV 
          


/DQGVFDSLQJ          
%LNH3DWKV 
   
     %ULGJHV            &XOYHUWV 

           

&XUEJXWWHUVLGHZDONDQGPHGLDQFXUEV 


        
'UDLQLQOHWV 
      
6RXQGZDOO 
      6WRUPGUDLQV      


7UDIILFVLJQDOV 

     


5LJKWWRXVHOHDVHGDVVHWV       

5LJKWWRXVHVXEVFULSWLRQV       
7RWDOFDSLWDODVVHWVEHLQJGHSUHFLDWHGDPRUWL]HG 
  

  

/HVVDFFXPXODWHGGHSUHFLDWLRQDPRUWL]DWLRQ
%XLOGLQJV

 

   


,PSURYHPHQWV


 



   

9HKLFOHVDQG(TXLSPHQW


 

  



3DUNV


 

   


/DQGVFDSLQJ


 


   

%LNH3DWKV

 


   



%ULGJHV

 


    


&XOYHUWV



 


   


&XUEJXWWHUVLGHZDONDQGPHGLDQFXUEV

 


   


'UDLQLQOHWV



 


   

6RXQGZDOO




 

   


6WRUPGUDLQV

 

   

7UDIILFVLJQDOV


 


   



5LJKWWRXVHOHDVHGDVVHWV


 

   



5LJKWWRXVHVXEVFULSWLRQV  


  



7RWDODFFXPXODWHGGHSUHFLDWLRQDPRUWL]DWLRQ

 


  


7RWDOFDSLWDODVVHWVEHLQJGHSUHFLDWHGDPRUWL]HGQHW    



  
7RWDOJRYHUQPHQWDODFWLYLWLHVFDSLWDODVVHWV 
 
 


  


$GMXVWPHQWV
5HVWDWHPHQWV
69 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 &$3,7$/$66(76
&217,18('





%DODQFH %DODQFH
-XO\ $GGLWLRQV 'HOHWLRQV 7UDQVIHUV -XQH %XVLQHVVW\SHDFWLYLWLHV

&DSLWDODVVHWVQRWEHLQJGHSUHFLDWHGDPRUWL]HG
/DQG 
    
      
&RQVWUXFWLRQLQSURJUHVV 
       
  
6WUHHWV 
           
7RWDOFDSLWDODVVHWVQRWEHLQJGHSUHFLDWHGDPRUWL]HG        
 

 
&DSLWDODVVHWVEHLQJGHSUHFLDWHGDPRUWL]HG
%XLOGLQJV            ,PSURYHPHQWV 
         
9HKLFOHVDQG(TXLSPHQW      


 
  
/DQGVFDSLQJ 

          %LNHSDWKV            %ULGJHV 
           
&XOYHUWV            &XUEJXWWHUVLGHZDONDQGPHGLDQFXUEV            'UDLQLQOHWV 

         


6WRUPGUDLQV           7UDIILFVLJQDOV    

  
3ODQWVDQGVXEVWDWLRQV 
   

  


'LVWULEXWLRQ 
  


 

 

*HQHUDWLRQ 
      
5LJKWWRXVHVXEVFULSWLRQV       7RWDOFDSLWDODVVHWVEHLQJGHSUHFLDWHGDPRUWL]HG 


  


  

/HVVDFFXPXODWHGGHSUHFLDWLRQDPRUWL]DWLRQ
%XLOGLQJV


 



   

,PSURYHPHQWV


 

   


9HKLFOHVDQG(TXLSPHQW

 

  



/DQGVFDSLQJ


 


   

%LNHSDWKV


 

   

%ULGJHV


 


   



&XOYHUWV


 

   

&XUEJXWWHUVLGHZDONDQGPHGLDQFXUEV

 

    


'UDLQLQOHWV

 

   


6WRUPGUDLQV

 


   

7UDIILFVLJQDOV


 


 
 


3ODQWVDQGVXEVWDWLRQV

 


 
 


'LVWULEXWLRQ


 


 
 




*HQHUDWLRQ


 


   





5LJKWWRXVHVXEVFULSWLRQV   
   

7RWDODFFXPXODWHGGHSUHFLDWLRQDPRUWL]DWLRQ


 


 
 




7RWDOFDSLWDODVVHWVEHLQJGHSUHFLDWHGDPRUWL]HGQHW     

  

7RWDOEXVLQHVVW\SHDFWLYLWLHVFDSLWDODVVHWV 
  


  



$GMXVWPHQWV
5HVWDWHPHQWV
70 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 &$3,7$/$66(76
&217,18('


% 'HSUHFLDWLRQ$PRUWL]DWLRQ$OORFDWLRQ

'HSUHFLDWLRQH[SHQVHLVFKDUJHGWRIXQFWLRQVDQGSURJUDPVEDVHGRQWKHLUXVDJHRIWKHUHODWHGDVVHWV7KHDPRXQWV DOORFDWHGWRHDFKIXQFWLRQRUSURJUDPLVDVIROORZV






& 6WUHHWV&RYHUHG%\WKH0RGLILHG$SSURDFK

7KH&LW\KDVHOHFWHGWRXVHWKHPRGLILHGDSSURDFKZLWKUHVSHFW WRLWVVWUHHWV7KH&LW\¶VSROLF\EDVHGRQFXUUHQW IXQGLQJLVWRPDLQWDLQWKHDUWHULDODQGFROOHFWRUURDGZD\VDWD QDYHUDJH3DYHPHQW4XDOLW\,QGH[ 34,
RIDQG
UHVLGHQWLDOURDGZD\VDWDQDYHUDJH34,RILQVWHDGRISURYLG LQJGHSUHFLDWLRQ'XULQJILVFDO\HDUWKH&LW\ H[SHQGHG
WRSUHVHUYHLWVVWUHHWV7KH&LW\HVWLPDWHVWKDWLWZLOOEHUHTXLUHGWRH[SHQG DSSUR[LPDWHO\ 
LQILVFDO\HDUWRPDLQWDLQLWVVWUHHWVDWWKLVFRQGLWLRQOHYHO 
127(

 /($6(6$1'68%6&5,37,21%$6(',1)250$7,217(&+12/2*<$55$1*(0(176 
/HVVHH/HDVHV

)RUWKH\HDUHQGHG-XQHWKHILQDQFLDOVWDWHPHQWVLQFOXGHWKHDGRSWLRQRI*$6%6WDWHPHQW1R/HDVHV 7KH SULPDU\ REMHFWLYH RI WKLV VWDWHPHQW LV WR HQKDQFH WKH UHOHYDQFH DQG FRQVLVWHQF\ RI LQIRUPDWLRQ DERXW

JRYHUQPHQWV
OHDVLQJDFWLYLWLHV7KLVVWDWHPHQWHVWDEOLVKHVDVLQJOHPRGHOIRUOHDVHDFFRXQWLQJEDVHGRQWKHSULQFLSOH WKDWOHDVHVDUHILQDQFLQJVRIWKHULJKWWRXVHDQXQGHUO\LQJDV VHW8QGHUWKLV6WDWHPHQWDOHVVHHLVUHTXLUHGWR UHFRJQL]HDOHDVHOLDELOLW\DQGDQLQWDQJLEOHULJKWWRXVHOHDVHDVVHWDQGDOHVVRULVUHTXLUHGWRUHFRJQL]HDOHDVH UHFHLYDEOHDQGDGHIHUUHGLQIORZRIUHVRXUFHV)RUDGGLWLRQDOLQIRUPDWLRQUHIHUWRWKHGLVFORVXUHVEHORZ *RYHUQPHQWDO$FWLYLWLHV
*HQHUDO*RYHUQPHQW 

'HYHORSPHQW 2SHUDWLRQV 

3XEOLF:RUNV 


3ROLFH  
)LUH  
/LEUDU\ 
 
3DUNV 5HFUHDWLRQ  
,QWHUQDOVHUYLFHIXQGV  
7RWDOGHSUHFLDWLRQDPRUWL]DWLRQH[SHQVH 
 
%XVLQHVV7\SH$FWLYLWLHV
(OHFWULF  
:DWHU  
:DVWHZDWHU 
 
:DVWH6HUYLFHV 
 
/RFDO7UDQVSRUWDWLRQ 

6FKRRO$JH&KLOG&DUH  
7RWDOGHSUHFLDWLRQDPRUWL]DWLRQH[SHQVH 
 
71 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(

 /($6(6 $1' 68%6&5,37,21%$6(' ,1)250$7,21 7(&+12/2*< $5 5$1*(0(176

&217,18('


/HDVH/LDELOLW\



2Q-XO\&LW\RI5RVHYLOOH&$HQWHUHGLQWRDPRQWK OHDVHDV/HVVHHIRUWKHXVHRI&LW\3DUNLQJ/RW /HDVH/LQFROQ$QLQLWLDOOHDVHOLDELOLW\ZDVUHFRUGHGLQWKHDPRXQWRI$VRI-XQHWKHYDOXH RIWKHOHDVHOLDELOLW\LV
&LW\RI5RVHYLOOH&$LVUHTXLUHGWRPDNHPRQWKO\IL[HGSD\PHQWVRI7KH OHDVHKDVDQLQWHUHVWUDWHRI7KHYDOXHRIWKHULJKWW RXVHDVVHWDVRI-XQHRI 
ZLWK
DFFXPXODWHGDPRUWL]DWLRQRI

LVLQFOXGHGZLWK/DQG,PSURYHPHQWVRQWKH/HDVH&ODVVDFWLYLWLHV 
2Q$XJXVW&LW\RI5RVHYLOOH&$HQWHUHGLQWRDPRQWKOHDVHDV/HVVHHIRUWKHXVHRI&LW\*URXQG/HDVH 
&RQIHUHQFH&HQWHU$QLQLWLDOOHDVHOLDELOLW\ZDVUHFRUGHGLQWKHDPRXQWRI$VRI WKHYDOXHRIWKHOHDVHOLDELOLW\LV
&LW\RI5RVHYLOOH&$LVUHTXLUHGWRPDNHDQQXDOIL[HGSD\PHQWVRI 7KHOHDVHKDVDQLQWHUHVWUDWHRI7KH,QIUDVWUXFWXUHHVWLPDWHGXVHIXOOLIHZDVPRQWKVDVRI WKHFRQWUDFWFRPPHQFHPHQW7KHYDOXHRIWKHULJKWWRXVHDVVHWDVRIRIZLWKDFFXPXODWHG DPRUWL]DWLRQ RI  LV LQFOXGHG ZLWK ,QIUDVWUXFWXUH RQ WKH /HDVH &ODVV DFWLYLWLHV WDEOH IRXQG EHORZ &LW\RI5RVHYLOOH&$KDVH[WHQVLRQRSWLRQ
V
HDFKIRUPRQWKV

2Q6HSWHPEHU&LW\RI5RVHYLOOH&$HQWHUHGLQWRDPRQWKOHDVHDV/HVVHHIRUWKHXVHRI&LW\*URXQG /HDVH+DUGLQJ$QLQLWLDOOHDVHOLDELOLW\ZDVUHFRUGHGLQWKHDPRXQWRI$VRIWKH YDOXHRIWKHOHDVHOLDELOLW\LV&LW\RI5RVHYLOO H&$LVUHTXLUHGWRPDNHDQQXDOIL[HGSD\PHQWVRI 7KHOHDVHKDVDQLQWHUHVWUDWHRI7KH,QIUDVWUXFWXUHHVWLPDWHGXVHIXOOLIHZDVPRQWKVDVRI WKHFRQWUDFWFRPPHQFHPHQW7KHYDOXHRIWKHULJKWWRXVHDVVHWDVRIRIZLWKDFFXPXODWHG DPRUWL]DWLRQ RI 
 LV LQFOXGHG ZLWK ,QIUDVWUXFWXUH RQ WKH /HDVH &ODVV DFWLYLWLHV WDEOH IRXQG EHORZ &LW\RI5RVHYLOOH&$KDVH[WHQVLRQRSWLRQ
V
HDFKIRUPRQWKV



%DODQFHDVRI %DODQFHDVRI
-XO\ $GGLWLRQV 5HGXFWLRQV -XQH
/DQG,PSURYHPHQWV 
    ,QIUDVWUXFWXUH      7RWDO/HDVH/LDELOLW\ 
    )LVFDO<HDU 3ULQFLSDO ,QWHUHVW 7RWDO
 
   
 
   
 

  

 

  

 
  

 
   
 
 
 

 

 
  
7RWDO    
72 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(

 /($6(6 $1' 68%6&5,37,21%$6(' ,1)250$7,21 7(&+12/2*< $5 5$1*(0(176

&217,18('


/HVVRU/HDVHV

)RUWKH\HDUHQGHG-XQHWKHILQDQFLDOVWDWHPHQWVLQFOXGHWKHDGRSWLRQRI*$6%6WDWHPHQW1R/HDVHV 7KHSULPDU\REMHFWLYHRIWKLVVWDWHPHQWLVWRHQKDQFHWKHUHOHY DQFHDQGFRQVLVWHQF\RILQIRUPDWLRQDERXW

JRYHUQPHQWV
OHDVLQJDFWLYLWLHV7KLVVWDWHPHQWHVWDEOLVKHVDV LQJOHPRGHOIRUOHDVHDFFRXQWLQJEDVHGRQWKH SULQFLSOHWKDWOHDVHVDUHILQDQFLQJVRIWKHULJKWWRXVHDQXQGHUO\LQJDVVHW8QGHUWKLV6WDWHPHQWDOHVVHHLVUHTXLUHG WRUHFRJQL]HDOHDVHOLDELOLW\DQGDQLQWDQJLEOHULJKWWRXVHOHDVHDVVHWDQGDOHVVRULVUHTXLUHGWRUHFRJQL]HDOHDVH UHFHLYDEOHDQGDGHIHUUHGLQIORZRIUHVRXUFHV)RUDGGLWLRQDOLQIRUPDWLRQUHIHUWRWKHGLVFORVXUHVEHORZ 
/HDVH5HFHLYDEOH


'HIHUUHG,QIORZVRI5HVRXUFHV



7KH&LW\OHDVHVODQGLQIUDVWUXFWXUHDQGEXLOGLQJVWRYDULRXVF RPSDQLHVDQGLQGLYLGXDOV$VRI-XQHWKH YDOXHRIWKHOHDVHVUHFHLYDEOHLVDQGUHVSHFWLYHO\ *29(510(17$/)81'6
%DODQFHDVRI %DODQFHDVRI
-XO\ $GGLWLRQV 5HGXFWLRQV -XQH
/HDVH5HFHLYDEOH
%XLOGLQJV   
    
,QIUDVWUXFWXUH   
   


/DQG 
    
 
7RWDO/HDVH5HFHLYDEOH   
   
35235,(7$5<)81'6
%DODQFHDVRI %DODQFHDVRI
-XO\ $GGLWLRQV 5HGXFWLRQV -XQH
/HDVH5HFHLYDEOH
%XLOGLQJV
       
/DQG     
  
7RWDO/HDVH5HFHLYDEOH     

  
*29(510(17$/)81'6
%DODQFHDVRI %DODQFHDVRI
-XO\ $GGLWLRQV 5HGXFWLRQV -XQH
'HIHUUHG,QIORZRI5HVRXUFHV

%XLOGLQJV   
  

  
,QIUDVWUXFWXUH       /DQG 

   
 
7RWDO'HIHUUHG,QIORZRI5HVRXUFHV        
35235,(7$5<)81'6
%DODQFHDVRI %DODQFHDVRI
-XO\ $GGLWLRQV 5HGXFWLRQV -XQH
'HIHUUHG,QIORZRI5HVRXUFHV

%XLOGLQJV
       
/DQG        7RWDO'HIHUUHG,QIORZRI5HVRXUFHV 
   

  
73 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(

 /($6(6 $1' 68%6&5,37,21%$6(' ,1)250$7,21 7(&+12/2*< $5 5$1*(0(176

&217,18('


Subscription-Based Information Technology Arrangements

7KH&LW\RI5RVHYLOOHLVDVXEVFULEHUIRUDQRQFDQFHOODEOHVXEVFULSWLRQRILQIRUPDWLRQWHFKQRORJ\VHUYLFHV7KH&LW\ RI5RVHYLOOHUHFRJQL]HVDVXEVFULSWLRQOLDELOLW\DQGDQLQWDQJLEOHULJKWǦWRǦXVHVXEVFULSWLRQDVVHW VXEVFULSWLRQDVVHW

LQWKHJRYHUQPHQWǦZLGHILQDQFLDOVWDWHPHQWV7KH&LW\RI5RVHYLOOHUHFRJQL]HGVXEVFULSWLRQOLDELOLWLHVZLWKDQLQLWLDO LQGLYLGXDOYDOXHRIRUPRUH

$WWKHFRPPHQFHPHQWRIDVXEVFULSWLRQWKH&LW\RI5RVHYLOOHLQLWLDOO\PHDVXUHVWKHVXEVFULSWLRQOLDELOLW\DWWKH SUHVHQWYDOXHRISD\PHQWVH[SHFWHGWREHPDGHGXULQJWKHVXEVFULSWLRQWHUP6XEVHTXHQWO\WKHVXEVFULSWLRQOLDELOLW\ LVUHGXFHGE\WKHSULQFLSDOSRUWLRQRIVXEVFULSWLRQSD\PHQWVPDGH7KHVXEVFULSWLRQDVVHWLVLQLWLDOO\PHDVXUHGDV WKHLQLWLDODPRXQWRIWKHVXEVFULSWLRQOLDELOLW\DGMXVWHGIRUVXEVFULSWLRQSD\PHQWVPDGHDWRUEHIRUHWKHVXEVFULSWLRQ FRPPHQFHPHQWGDWHSOXVFHUWDLQLQLWLDOGLUHFWFRVWV6XEVHTXHQ WO\WKHVXEVFULSWLRQDVVHWLVDPRUWL]HGRQD VWUDLJKWǦOLQHEDVLVRYHULWVXVHIXOOLIH.H\HVWLPDWHVDQGMXGJPHQWVUH ODWHGWRVXEVFULSWLRQVLQFOXGHKRZWKH &LW\RI5RVHYLOOHGHWHUPLQHV

WKHGLVFRXQWUDWHLWXVHVWRGLVFRXQWWKHH[SHFWHGVXEVFULSWLRQSD\PHQWVWRSUHVHQW YDOXH

OHDVHWHUPDQG

VXEVFULSWLRQSD\PHQWV

x 7KH&LW\RI5RVHYLOOHXVHVWKHLQWHUHVWUDWHFKDUJHGE\WKHYH QGRUDVWKHGLVFRXQWUDWH:KHQWKHLQWHUHVWUDWH FKDUJHGE\WKHYHQGRULVQRWSURYLGHGWKH&LW\RI5RVHYLOOHJHQHUDOO\XVHVLWVHVWLPDWHGLQFUHPHQWDOERUURZLQJ UDWHDVWKHGLVFRXQWUDWHIRUVXEVFULSWLRQV

x 7KHVXEVFULSWLRQWHUPLQFOXGHVWKHQRQFDQFHOODEOHSHULRGRIWK HVXEVFULSWLRQ6XEVFULSWLRQSD\PHQWVLQFOXGHG LQWKHPHDVXUHPHQWRIWKHVXEVFULSWLRQOLDELOLW\DUHFRPSRVHGR IIL[HGSD\PHQWVWKDWWKH&LW\RI5RVHYLOOHLV UHDVRQDEO\FHUWDLQWRH[HUFLVH

7KH&LW\RI5RVHYLOOHPRQLWRUVFKDQJHVLQFLUFXPVWDQFHVWKDWZRXOGUHTXLUHDUHPHDVXUHPHQWRILWVVXEVFULSWLRQV DQGZLOOUHPHDVXUHWKHVXEVFULSWLRQDVVHWDQGOLDELOLW\LIFHUW DLQFKDQJHVRFFXUWKDWDUHH[SHFWHGWRVLJQLILFDQWO\ DIIHFWWKHDPRXQWRIWKHVXEVFULSWLRQOLDELOLW\



$PRXQWRI
6%,7$&DSLWDO $FFXPXODWHG
$VVHWV $PRUWL]DWLRQ




$PRXQWRI
6%,7$&DSLWDO $FFXPXODWHG
$VVHWV $PRUWL]DWLRQ

 
7RWDO 
 

6XEVFULSWLRQ7\SH
6RIWZDUHDVDVHUYLFH
*RYHUQPHQWDO$FWLYLWLHV
%XVLQHVVW\SH$FWLYLWLHV
6XEVFULSWLRQ7\SH
6RIWZDUHDVDVHUYLFH
74 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 /21*7(50'(%7 

7KH&LW\JHQHUDOO\LQFXUVORQJWHUPGHEWWRILQDQFHSURMHFWVRUSXUFKDVHDVVHWVZKLFKZLOOKDYHXVHIXOOLYHVHTXDOWR RUJUHDWHUWKDQWKHUHODWHGGHEW

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
$ &XUUHQW<HDU7UDQVDFWLRQVDQG%DODQFHV


2ULJLQDO,VVXH
$PRXQW
%DODQFH
-XQH $GGLWLRQV 'HOHWLRQV
%DODQFH
-XQH
6KRUWWHUP
3RUWLRQ
*RYHUQPHQWDO$FWLYLWLHV'HEW

'LUHFW3ODFHPHQW'HEW

6XE/HDVH&HUWLILFDWHVRI3DUWLFLSDWLRQ

3XEOLF)DFLOLWLHV5HIXQGLQJ
GXH 
 
   
  
7RWDOGLUHFWSODFHPHQW 
 
  
  
&HUWLILFDWHVRI3DUWLFLSDWLRQ
9HUQRQ6WUHHW3URMHFW
GXH       $GG
GHEWSUHPLXP  
  
 


7RWDOFHUWLILFDWHRISDUWLFLSDWLRQ     
 

 
7RWDO*RYHUQPHQWDO7\SH$FWLYLWLHV'HEW


      
%XVLQHVV7\SH$FWLYLWLHV'HEW

'LUHFW3ODFHPHQW'HEW

&HUWLILFDWHVRI3DUWLFLSDWLRQ
(OHFWULF6\VWHP5HYHQXH5HIXQGLQJ
YDULDEOHUDWHVGXH
      /RDQV
65)/RDQ
,QWHUHVWGXH       

7RWDOGLUHFWSODFHPHQWGHEW
  
   

&HUWLILFDWHVRI3DUWLFLSDWLRQ
(OHFWULF6\VWHP5HYHQXH
GXH 

      /HVV
ERQGGLVFRXQW

      :DWHU8WLOLW\5HYHQXH5HIXQGLQJ
GXH        
$GG
ERQGSUHPLXP 


 
  
  
7RWDO&HUWLILFDWHVRI3DUWLFLSDWLRQ       
5HYHQXH%RQGV
*DV5HYHQXH%RQGV
GXH 
      $GG
ERQGSUHPLXP  
  
 
 
(OHFWULF6\VWHP5HYHQXH5HIXQGLQJ
GXH
      $GG
ERQGSUHPLXP 

      $(OHFWULF6\VWHP5HYHQXH5HIXQGLQJ
GXH       $GG
ERQGSUHPLXP 

     
 
5HIXQGLQJ(OHFWULF6\VWHP5HYHQXH%RQGV

GXH       7RWDO5HYHQXH%RQGV  
   

 
7RWDO%XVLQHVV7\SH$FWLYLWLHV'HEW
 

 
 
 

 


75 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 /21*7(50'(%7
&217,18('


% 'LUHFW3ODFHPHQW'HEW

2013 Public Facilities Refunding Lease
2Q-XQHWKH&LW\HQWHUHGLQWRD/HDVHDQG6XEOHDVH$JU HHPHQWLQWKHDPRXQWRI WRUHIXQG
WKHRXWVWDQGLQJ$3XEOLF)DFLOLWLHV5HIXQGLQJ&HUWLILFDWHVRI3DUWLFLSDWLRQ $&23V
DQGWKH%*ROI
&RXUVH5HIXQGLQJ&HUWLILFDWHVRI3DUWLFLSDWLRQ
% &23V
7K H$DQG%&23VZHUHFDOOHGRQ
$XJXVW 7KH/HDVHLVUHSD\ DEOHIURPDQ\VRXUFHRIDYDLO DEOHIXQGVRIWKH&LW\ZKLFKLQFOXGHVWKH *HQHUDO)XQG
KRZHYHUWKH*ROI&RXUVH6SHFLDO5HYHQXH)XQGLVH[SHFWHGWRUHSD\WKHSRUWLRQRIWKHOHDVHUHODWHG WRWKHUHIXQGLQJRIWKH%&HUWLILFDWHVRI3DUWLFLSDWLRQ3ULQFLSDODQGLQWHUHVWSD\PHQWVDUHSD\DEOHVHPLDQQXDOO\ RQ)HEUXDU\DQG$XJXVWWKURXJK7KHDPRXQWRXWVWDQGLQJDVRI-XQHZDVLQ JRYHUQPHQWDODFWLYLWLHV

2012 Electric System Revenue Refunding Certificates of Participation 2Q1RYHPEHUWKH&LW\HQWHUHGLQWRDGLUHFWSODFHPHQWDJUHHPHQWZLWK86%DQNIRUWKHSXUFKDVHRI WKH &23V7KH&23VZHUHLVVXHGWRUHIXQGDQGUHWLUHWKHRXWVWD QGLQJEDODQFHRIWKH$(OHFWULF 6\VWHP 5HYHQXH&23V

7KHWHUPVRIWKLVDJUHHPHQWZHUHUHQHZHGRQ$SULODQGH[SLUHGRQ1RYHPEHU 7KH&LW\ RULJLQDOO\
HQWHUHGLQWRD\HDULQWHUHVWUDWHVZDSDJUHHPHQWIRUWKHHQWLUHDPRXQWRIWKH$&23VDQGWKH LQWHUHVWUDWH VZDSDJUHHPHQWUHPDLQHGRXWVWDQGLQJDIWHUWKHUHIXQGLQJEXWWKHQRWLRQDODPRXQWRIWKHVZDSZDV EDVHGRQWKH QRWLRQDODPRXQWRIWKH$&23V7KHFRPELQDWLRQRIWKHYDULDEOHUDWH&23VDQGDIORDWLQJUDWHVZDSFUHDWHGD V\QWKHWLFIL[HGUDWHGHEWIRUWKH&LW\7KHV\QWKHWLFIL[HGUDWHIRUWKH&23VZDV 
SHUFHQWIRU WKH\HDUHQGHG
-XQH2Q1RYHPEHU
WKH(OHFWULF&23VZHUHSDLGGRZQE\ OHDYLQJDEDODQFH RI,QDGGLWLRQWKH%DQNRI$PHULFD0HUULOO/\QFKVZDSZDVWHUPLQDWHGDVRIWKLV GDWH$VDUHVXOWWKH &LW\SDLGWRWHUPLQDWHWKHLQWHUHVWUDWHVZDSDJUHHPHQW7KH86%DQNGLUHFW SODFHPHQWZDVUHQHZHG ZLWKQHZLQWHUHVWUDWHWHUPVRIRIRQHPRQWK/,%25SOXVEDVLVSRLQWVDQGDQH[SLUDWLRQGDWHRI0D\ 7KH&23VZHUHVXEMHFWWRPDQGDWRU\SUHSD\PHQWDQQXDOO\EHJLQQLQJ )HEUXDU\WKURXJK 
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
2020 State Revolving Fund Loan

,Q-XQHWKH&LW\HQWHUHGLQWRDORDQDJUHHPHQWZLWKWKH6WDWH:DWHU5HVRXUFHV&RQWURO%RDUGWRVHFXUH IXQGLQJIRUWKH3OHDVDQW*URYH:DVWHZDWHU7UHDWPHQW3ODQW([SDQVLRQDQG(QHUJ\5HFRYHU\3URMHFWLQWKHIRUP RIDORDQIURPWKH&OHDQ:DWHU6WDWH5HYROYLQJ)XQG7KHORDQLVDSSURYHGIRUXSWREHDUVLQWHUHVW DWWKHUDWHRIDQGLVSD\DEOHLQDQQXDOSD\PHQWVEHJLQQLQJ-DQXDU\7RWDOIXQGVGUDZQRQWKHORDQ DW-XQHZDV

& &HUWLILFDWHVRI3DUWLFLSDWLRQ

2015 316 Vernon Street Project Certificates of Participation 2Q -XO\   WKH 5RVHYLOOH )LQDQFH $XWKRULW\ LVVXHG WKH &HUWLILFDWHV RI 3DUWLFLSDWLRQ 6HULHV 

9HUQRQ6WUHHW3URMHFW
LQWKHSULQFLSDODPRXQWRI WRIXQGDSRUWLRQRIWKHDFTXLVLWLRQDQG FRQVWUXFWLRQRIDQRIILFHEXLOGLQJORFDWHGDW9HUQRQ6WUHHW 7KH/HDVHEHDUVLQWHUHVWDWSHUFHQWWR SHUFHQWDQGDUHGXHVHPLDQQXDOO\DW)HEUXDU\DQG$XJXVWRIHDFK\HDU7KH/HDVHLVUHSD\DEOHIURPDQ\  76 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 /21*7(50'(%7
&217,18('


VRXUFH RI OHJDOO\ DYDLODEOH IXQGV RI WKH &LW\ LQFOXGLQJ EXWQRW OLPLWHGWR
DPRXQWVKHOGE\ WKH&LW\ LQLWV
*HQHUDO )XQGDFFRUGLQJWRWKH/HDVH$JUHHPHQWLQWKHRIILFLDOVWDWHPHQW3ULQFLSDOSD\PHQWVDUHGXHDQQXDOO\RQ $XJXVW WKURXJK7KHDPRXQWRXWVWDQGLQJDVRI-XQHLV 
2004 Electric System Revenue Certificates of Participation 2Q-XO\WKH&LW\LVVXHG

RI&HUWLILFDWHVRI3DUWLFLSDWLRQWRILQDQFHFDSLWDOLPSURYHPHQWVWR WKH &LW\¶V(OHFWULF6\VWHP7KH&23VDUHUHSD\DEOHIURPQHWUHYHQXH RIWKH(OHFWULF8WLOLW\6\VWHP7KH&23VEHDU LQWHUHVWDWSHUFHQWWRSHUFHQWDQGDUHGXHVHPLDQQXD OO\RQ)HEUXDU\DQG$XJXVWRIHDFK\HDU EHJLQQLQJ)HEUXDU\3ULQFLSDOSD\PHQWVDUHGXHDQQXDOO\RQ)HEUXDU\WKURXJK)HEUXDU\7KH &23V ZHUHSDUWLDOO\UHIXQGHGE\WKH(OHFWULF6\VWHP5HYHQXH5HIXQGLQJ%RQGVDVGLVFXVVHGEHORZ,Q$XJXVW WKH(OHFWULF6\VWHP5HYHQXH&HUWLILFDWHVRI3DUWLFLSDWLRQZHUHSDUWLDOO\UHIXQGHGE\WKH (OHFWULF6\VWHP 5HYHQXH5HIXQGLQJ%RQGVOHDYLQJDSDUDPRXQWRI 
2015 Water Utility Revenue Refunding Certificates of Participation 2Q$XJXVWWKH5RVHYLOOH)LQDQFH$XWKRULW\LVVXHGWKH :DWHU5HYHQXH&HUWLILFDWHVRI3DUWLFLSDWLRQ  6HULHVLQWKHSULQFLSDODPRXQWRIWRUHIXQGWKH:DWHU8WLOLW\&HUWLILFDWHVRI3DUWLFLSDWLRQ7KH %RQGVEHDULQWHUHVWDWSHUFHQWWRSHUFHQWDQGDUHGXHVHPLDQQXDOO\RQ'HFHPEHU DQG-XQHRIHDFK \HDU7KH%RQGVDUHUHSD\DEOHE\DSOHGJHRIQHWUHYHQXHIURPW KH:DWHU8WLOLW\6\VWHP3ULQFLSDOSD\PHQWVDUH GXHDQQXDOO\RQ'HFHPEHUWKURXJK

$VRI-XQHWKHWRWDOSULQFLSDODQGLQWHUHVWUHPDLQLQJWREHSDLGRQWKHERQGVZDV $VGLVFORVHG
LQWKHRIILFLDOVWDWHPHQWDOOQHWUHYHQXHVRIWKH:DWHU8WLOLW\6\VWHPDUHH[SHFWHGWRSURYLGHFRYHUDJH RYHUGHEW VHUYLFHRISHUFHQWRYHUWKHOLIHRIWKH%RQGV)RUILVFDO\HDUQHWUHYHQXHVDPRXQWHGWRZKLFK UHSUHVHQWHG FRYHUDJHRI SHUFHQWRYHUWKH LQGHEWVHUYLFH7KHEDODQFH RXWVWDQGLQJDVRI -XQHLV

' 5HYHQXH%RQGV

2007 Roseville Natural Gas Financing Authority Gas Revenue Bonds 2Q-DQXDU\WKH$XWKRULW\LVVXHG
RI*DV5 HYHQXH%RQGV6HULHV
WKH%RQGV
WR
ILQDQFHDOXPSVXPSUHSD\PHQWWRD*DV6XSSOLHU
6HH1RWH$
LQRUGHUWRDFTXLUHDVXSSO\RIQDWXUDOJDVWR EH
GHOLYHUHGRYHUDSHULRGRIWZHQW\\HDUV7KHJDVSXUFKDVHGE\WKH$XWKRULW\ZLOOEHVROGWRWKH&LW\SXUVXDQW WRD 1DWXUDO*DV6XSSO\$JUHHPHQW
6HH1RWH&
WRSURGXFHUHYHQXHVWREHXVHGIRUGHEWVHUYLFHRQWKH %RQGV 
3ULQFLSDOSD\PHQWVDUHGXHDQQXDOO\RQ)HEUXDU\WKURXJK DQGLQWHUHVWLVSD\DEOHVHPLDQQXDOO\RQ  )HEUXDU\DQG$XJXVW7KHEDODQFHRXWVWDQGLQJDVRI-XQHLV$VRI-XQH WKH WRWDOSULQFLSDODQGLQWHUHVWWREHSDLGRQWKHERQGVZDV)RUILVFDO\HDUQHWUHYHQXHV DPRXQWHG WR
ZKLFKUHSUHVHQWHGFRYHUDJHRISHUFHQWRYHUWKHLQGHEWVHUYLFH 
2013 Electric System Revenue Refunding Bonds
2Q1RYHPEHUWKH5RVHY LOOH)LQDQFH$XWKRULW\LVVXHGWKH(OHFWULF6\VWHP5HYHQXH5HIXQGLQJ%RQGV 6HULHVLQWKHSULQFLSDODPRXQWRIWRUHIXQGDSRUWLRQRIHDFKRIWKH(OHFWULF6\VWHP5HYHQXH DQG(OHFWULF6\VWHP5HYHQXH6HULHV$&HUWLILFDWHVRI3DUWLFLSDWLRQ7KH%RQGVEHDULQWHUHVWDWSHUFHQW WRSHUFHQWDQGDUHGXHVHPLDQQXDOO\RQ)HEUXDU\DQG$XJXVWRIHDFK\HDU7KH%RQGVDUH UHSD\DEOHE\ DSOHGJHRIQHWUHYHQXHIURPWKH(OHFWULF6\VWHP3ULQFLSDOSD\PHQWVDUHGXHDQQXDOO\RQ)HEUXDU\ WKURXJK 
,Q6HSWHPEHUWKH&LW\LVVXHGWKH7D[DEOH(OHFWULF6\VWHP5HYHQXH5HIXQGLQJ%RQGVZKLFKUHIXQGHG DSRUWLRQRIWKHERQGVZKLFKDUHIXUWKHUGHVFULEHGEHORZ$VRI-XQHWKLVGHEWZDVIXOO\SDLGRII 
77 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 /21*7(50'(%7
&217,18('

2017A Electric System Revenue Refunding Bonds
2Q)HEUXDU\WKH&LW\LVVXHG5HYHQXH%RQGVLQWKHRULJL QDOSULQFLSDODPRXQWRI7KH%RQGV ZHUHLVVXHGWRUHIXQGDSRUWLRQRIWKH
(OHFWULF6\VWHP5HYHQXH5HIXQGLQJ&HUWLILFDWHVRI3DUWLFLSDWLRQDQG WKH (OHFWULF6\VWHP5HYHQXH5HIXQGLQJ%RQGV7KH5HYHQXH%RQGVEHDULQWHUHVWDWSHUFHQWWR SHUFHQW DQGDUHGXHVHPLDQQXDOO\RQ)HEUXDU\DQG$XJXVWRIHDFK\H DU3ULQFLSDOSD\PHQWVDUHGXH DQQXDOO\RQ )HEUXDU\WKURXJK7KHEDODQFHRXWVWDQGLQJDVRI-XQHLV 
2020 Taxable Electric System Revenue Refunding Bonds
2Q6HSWHPEHUWKH&LW\LVVXHG7D[DEOH5HYHQXH%RQGVLQWKHRULJLQDOSULQFLSDODPRXQWRI7KH %RQGVZHUHLVVXHGWRUHIXQGDSRUWLRQRIWKHDQG(OHF WULF6\VWHP5HYHQXH5HIXQGLQJ%RQGV7KH 5HYHQXH%RQGVEHDULQWHUHVWDW
 SHUFHQWWRSHUFHQWD QGDUHGXHVHPLDQQXDOO\RQ)HEUXDU\DQG $XJXVWRIHDFK\HDU3ULQFLSDOSD\PHQWV DUHGXHDQQXDOO\RQ)HEUXDU\WKURXJK7KHEDODQFHRXWVWDQGLQJ DVRI-XQHLV

Electric Bonds Net Revenue Summary
$VRI-XQHWKHWRWDOSULQFLSDODQGLQWHUHVWUHPDLQLQJ WREHSDLGRQWKH(OHFWULF6\VWHP5HYHQXH &23VWKH$(OHFWULF6\VWHP5HYHQXH5HIXQGLQJERQGVDQGWKH 7D[DEOH(OHFWULF6\VWHP5HYHQXH 5HIXQGLQJERQGVZDV$VGLVFORVHGLQWKHRIILFLDOVWDWHPHQWVDOO QHWUHYHQXHVRIWKH(OHFWULF6\VWHP DUHH[SHFWHGWRSURYLGHFRYHUDJHRYHUGHEWVHUYLFHRIRYHUWKHOLYHVRI WKH%RQGV)RUILVFDO\HDUQHW UHYHQXHVDPRXQWWRZKLFKUHSUHVHQWVFRYHUDJHRI RYHU WKHLQGHEWVHUYLFH
78 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 /21*7(50'(%7
&217,18('


( 'HEW6HUYLFH5HTXLUHPHQWV

'HEWVHUYLFHUHTXLUHPHQWVDUHVKRZQEHORZIRUWKHUHPDLQLQJORQJWHUPGHEW 


3ULQFLSDO ,QWHUHVW 3ULQFLSDO ,QWHUHVW 3ULQFLSDO ,QWHUHVW           
 

  
  
  
  

      
          
 
        
 
                                        7RWDOV           

 
5HFRQFLOLDWLRQRIORQJWHUPGHEW
$GGGHIHUUHGERQGSUHPLXP 

   


1HWORQJWHUPGHEW 

   
 
3ULQFLSDO ,QWHUHVW 3ULQFLSDO ,QWHUHVW 3ULQFLSDO ,QWHUHVW       
 
 
  

  


 
 


 
 

  
 
 
 
 
 

 
 
 


 
  
   

                
  


7RWDOV  

  
 
 

5HFRQFLOLDWLRQRIORQJWHUPGHEW
$GGGHIHUUHGERQGSUHPLXP
 

1HWORQJWHUPGHEW 

  


7RWDO
<HDU(QGLQJ-XQH








*RYHUQPHQWDO$FWLYLWLHV
3ULYDWH3ODFHPHQW/HDVHDQG/RDQV



%XVLQHVV7\SH$FWLYLWLHV
3ULYDWH3ODFHPHQW/HDVHDQG/RDQ
V 7RWDO
<HDU(QGLQJ-XQH













79 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 /21*7(50'(%7
&217,18('


) 6SHFLDO$VVHVVPHQW'LVWULFWV

6SHFLDO$VVHVVPHQW'LVWULFWVLQFOXGLQJ0HOOR5RRV'LVWULFWVLQYDULRXVSDUWVRIWKH&LW\KDYHLVVXHGGHEWWR ILQDQFH LQIUDVWUXFWXUHLPSURYHPHQWVDQGIDFLOLWLHVZLWKLQWKHLUERXQGDULHV7KH&LW\LVWKHFROOHFWLQJDQGSD\LQJ DJHQWIRUWKH GHEWLVVXHGE\WKHVH'LVWULFWVEXWKDVQRGLUHFWRUFRQWLQJHQWOLDELOLW\RUPRUDOREOLJDWLRQIRUWKH SD\PHQWRIWKLVGHEW 7KHUHIRUHWKLVGHEWLVQRWUHFRUGHGDVORQJWHUPGHEWRIWKH&LW\7KHRXWVWDQGLQJEDODQFH RIHDFKRIWKHVHLVVXHV DVRI-XQHLVDVIROORZV



0DWXULW\ 2XWVWDQGLQJ
+LJKODQG5HVHUYH1RUWK&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  

:RRGFUHHN(DVW&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
&URFNHU5DQFK&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
6WRQHULGJH:HVW&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV   
6WRQHULGJH(DVW&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
6WRQHULGJH3DUFHO&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV 

'LDPRQG&UHHN&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV

 
5RVHYLOOH)LGG\PHQW5DQFK&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  

5RVHYLOOH)LGG\PHQW5DQFK&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
5RVHYLOOH)LGG\PHQW5DQFK&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV



&LW\ RI 5RVHYLOOH )LGG\PHQW 5DQFK &RPPXQLW\ )DFLOLWLHV 'LVWULFW 1R  6SHFLDO 7D[%RQGV6HULHV
 

)RXQWDLQV&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  

/RQJPHDGRZ3DUNVLGH&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
1RUWK 5RVHYLOOH &RPPXQLW\ )DFLOLWLHV 'LVWULFW 1R  5HIXQGLQJ %RQGV 6HULHV 
 
:RRGFUHHN :HVW &RPPXQLW\ )DFLOLWLHV 'LVWULFW 1R  5HIXQGLQJ %RQGV 6HULHV 
 
3ODFHU9DOOH\6SRUWV&RPSOH[DQG7RXULVP0DUNHWLQJ'LVWULFW6HULHV   

6WRQH3RLQW&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
6WRQH3RLQW&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
6963:HVWSDUN)HGHULFR&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV


 
6963:HVWSDUN)HGHULFR&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV 
 
6963:HVWSDUN)HGHULFR&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV 
 
9LOODJHVDW6LHUUD9LVWD&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV



9LOODJHVDW6LHUUD9LVWD&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV 


9LOODJHVDW6LHUUD9LVWD&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
9LOODJHVDW6LHUUD9LVWD&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
:HVWSDUN&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
:HVWEURRN&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
:HVWEURRN&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
:HVWEURRN&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV


 
:HVWEURRN&RPPXQLW\)DFLOLWLHV'LVWULFW1R
3XEOLF)DFLOLWLHV
6HULHV

 
+3&DPSXV2DNV&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
&UHHNYLHZ&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
&UHHNYLHZ&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
5DQFKDW6LHUUD9LVWD&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  
5DQFKDW6LHUUD9LVWD&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  

%DVHOLQHDW6LHUUD9LVWD&RPPXQLW\)DFLOLWLHV'LVWULFW1R6HULHV  

80 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 '(5,9$7,9(,167580(176

$ 6XPPDU\RI1RWLRQDO$PRXQWVDQG)DLU9DOXHV

7KH&LW\HQWHUVLQWRFRQWUDFWVWRKHGJHLWVSULFHH[SRVXUHVWR SRZHUDQGQDWXUDOJDVDQGWRSURFXUHHQHUJ\  VXSSOLHV7KHVHFRQWUDFWVDUHHYDOXDWHGSXUVXDQWWR*$6%6WDWHPHQW1RAccounting and Financial Reporting for Derivative InstrumentsWRGHWHUPLQHZKHWKHUWKH\PHHWWKHGHILQLWLRQRIGHULYDWLYHL QVWUXPHQWVDQGLIVR ZKHWKHUWKH\HIIHFWLYHO\KHGJHWKHH[SHFWHGFDVKIORZVDVVRFLDWHGZLWKLQWHUHVWUDWHDQGHQHUJ\H[SRVXUHV 
7KH&LW\DSSOLHVKHGJHDFFRXQWLQJIRUGHULYDWLYHVWKDWDUHGHHPHGHIIHFWLYHKHGJHV8QGHUKHGJHDFFRXQWLQJ WKH LQFUHDVH

GHFUHDVH
LQWKHIDLUYDOXHRIDKHGJHLVUHSRUWHGDV DGHIHUUHGLQIORZRURXWIORZRIUHVRXUFHVRQ WKH VWDWHPHQWRIQHWSRVLWLRQ)RUWKHUHSRUWLQJSHULRGDOORIWKH&LW\¶VGHULYDWLYHVDUHFRQVLGHUHGHIIHFWLYH KHGJHV 
)RUHQHUJ\GHULYDWLYHVIDLUYDOXHVDUHHVWLPDWHGE\FRPSDULQJFRQWUDFWSULFHVWRIRUZDUGPDUNHWSULFHVTXRWHG E\ WKLUGSDUW\PDUNHWSDUWLFLSDQWVRUSURYLGHGLQUHOHYDQWLQGXVWU\SXEOLFDWLRQV 
7KHIROORZLQJLVDVXPPDU\RIWKHIDLUYDOXHVDQGQRWLRQDODPRX QWVRIGHULYDWLYHLQVWUXPHQWVRXWVWDQGLQJDVRI -XQH



% 2EMHFWLYHDQG7HUPVRI+HGJLQJ'HULYDWLYH,QVWUXPHQWV 
7KH REMHFWLYHV DQG WHUPV RI WKH &LW\¶V KHGJLQJ GHULYDWLYH LQVWU XPHQWV WKDW ZHUH RXWVWDQGLQJ DW -XQH DUHVXPPDUL]HGLQWKHQH[WWDEOH7KHWDEOHLVD JJUHJDWHGE\WKHFUHGLWUDWLQJVRIWKH&LW\¶V FRXQWHUSDUWLHV)RU FRXQWHUSDUWLHVKDYLQJPXOWLSOHUDWLQJVWKHUDWLQJLQGLFDWLQJWKHJUHDWHVWGHJUHHRIULVNLVXVHG 
2EMHFWLYHVDQGWHUPVRIWKH&LW\¶VKHGJLQJGHULYDWLYHLQVWUXPHQ WVWKDWZHUHRXWVWDQGLQJDW-XQHDUH VXPPDUL]HGLQWKHWDEOHEHORZ




& 5LVNVRI'HULYDWLYH,QVWUXPHQWV

Credit risk ±&UHGLWULVNLVWKHULVNRIORVVGXHWRDFRXQWHUSDUW\GHIDXOWLQJRQLWVREOLJDWLRQV7KH&LW\VHHNVWR PLQLPL]HFUHGLWULVNE\WUDQVDFWLQJZLWKFUHGLWZRUWK\FRXQWHUSDUWLHV,QWHUHVWUDWHVZDSFRXQWHUSDUWLHVDUH HYDOXDWHG DWWKHWLPHRIWUDQVDFWLRQH[HFXWLRQ7KHSURFHGXUHSURKLELWVWKH&LW\IURPH[HFXWLQJHQHUJ\KHGJH WUDQVDFWLRQVZLWK FRXQWHUSDUWLHVUDWHGORZHUWKDQ%%%E\6WDQGDUG 3RRU¶VRU)LWFKUDWLQJVHUYLFHVRU%DDE\0RRG\¶V6XEVHTXHQW WRHQWHULQJLQWRWUDQVDFWLRQVWKHFUHGLWUDWLQJVRIRQHRUPRUHFRXQWHUSDUWLHVPD\ GHWHULRUDWH,IVRWKH&LW\¶VFUHGLW ULVNPDQDJHPHQWSROLFLHVLQFUHDVHWKHDPRXQWRIFROODWHUDOWKDWWKH FRXQWHUSDUW\PXVWSRVWZLWKWKH&LW\ZKHQWKH FRXQWHUSDUW\RZHVWKH&LW\WKHUHE\UHGXFLQJFUHGLWULVN DVVRFL DWHGZLWKWKHGHFOLQHLQWKHFRXQWHUSDUW\¶VFUHGLW ZRUWKLQHVV
&ODVVLILFDWLRQ $PRXQW &ODVVLILFDWLRQ $PRXQW 1RWDWLRQDO /HYHO (IIHFWLYH&DVK)ORZ+HGJHV
5RVHYLOOH1DUXDO*DV)LQDQFLQJ$XWKRULW\
3D\)L[HG6:$31DWXUDO*DV 'HIHUUHG,QIORZ 
  'HULYDWLYH   PP%WX  5HFHLYH)L[HG6:$31DWXUDO*DV 'HIHUUHG2XWIORZ  'HULYDWLYH   
PRQWKO\PP%WX 




&KDQJHLQ)DLU9DOXH )DLU9DOXH(QGRI)LVFDO<HDU 1RWDWLRQDO$PRXQW (IIHFWLYH'DWH 0DWXULW\'DWH 7HUPV &RXQWHUSDUW\ 5DWLQJ )RUZDUG&RQWUDFWV*DV

+HGJH&DVK)ORZVRQ3* (FLW\JDWH*DV PP%WX   3D\ 5HFHLYH1*,3* (FLW\JDWHSULFH %3(QHUJ\ $
+HGJH&DVK)ORZVRQ3* (FLW\JDWH*DV PP%WX    3D\
5HFHLYH1*,3* (FLW\JDWHSULFH &LWLJURXS(QHUJ \$ 
+HGJH&DVK)ORZVRQ3* (FLW\JDWH*DV PP%WX   3D\ 5HFHLYH1*,3* (FLW\JDWHSULFH (')7UDGLQJ1RU WK$PHULFD %DD +HGJH&DVK)ORZVRQ3* (FLW\JDWH*DV PP%WX    3D\ 5HFHLYH1*,3* (FLW\JDWHSULFH -$URQ &RPSDQ \$ 
+HGJH&DVK)ORZVRQ3* (FLW\JDWH*DV PP%WX   3D\ 5HFHLYH1*,3* (FLW\JDWHSULFH 0DFTXDULH(QHUJ \$ 
+HGJH&DVK)ORZVRQ3* (FLW\JDWH*DV
PP%WX   3D\
5HFHLYH1*,3* (FLW\JDWHSULFH 6KHOO7UDGLQJ5LVN0DQDJHPHQW $ )RUZDUG&RQWUDFWV3RZHU

+HGJH&DVK)ORZVRQ133RZHU 
0:K 
 $YHUDJ H&RVW8QLWDW
 &LWLJURXS(QHUJ\ $
+HGJH&DVK)ORZVRQ133RZHU
0:K   $YHUDJ H&RVW8QLWDW  (')7UDGLQJ1RUWK$PHULFD %DD
&RPPRGLW\6ZDSV*DV

3UHSD\PHQW\HDUVXSSO\RI1DWXUDO*DV PP%WX   3D\LQGH[PLQXV 5HFHLYH1*, 0HUU\OO/\QFK $
  -30RUJDQ&KDVH%DQN1$ $
7\SHDQG2EMHFWLYH
+HGJH RQ &DVK )ORZV RQ SUHSD\PHQW RI
\HDUVXSSO\RI1DWXUDO*DV
)URPWR
PP%WXSHU
PRQWK
3D\ 1*, 3* ( FLW\JDWH SULFH
5HFHLYH
SHUPP%WX
81 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 '(5,9$7,9(,167580(176
&217,18('


Termination risk ±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¶VGHULYDWLYHVXSWRWKHIDLUYDOXH DPRXQWV

127(
 1(7326,7,21$1')81'%$/$1&(6

$ )XQG%DODQFHDQG1HW3RVLWLRQ'HILFLWV

7KH&LW\UHSRUWHGWKHIROORZLQJGHILFLWQHWSRVLWLRQDQGIXQGEDODQFHV 

7KH6FKRRO$JH&KLOG&DUH)XQGKDGDGHILFLWQHWSRVLWLRQRIDW-XQHRI 7KH&LW\LV HYDOXDWLQJ
WKHRSHUDWLRQVRIWKLVIXQGWRHQVXUHWKDWVHUYLFHUDWHVDUHVXIILFLHQWWRFRYHURSHUDWLRQV 
7KH*ROI)XQGKDGDGHILFLWIXQGEDODQFHDVRI-XQHRI7KH&LW\LVH[SHFWLQJWRHOLPLQDWH WKLV GHILFLWZLWKIXWXUHSURJUDPUHYHQXHVDQGWUDQVIHUVIURPWKHJHQHUDOIXQG 
7KH5RVHYLOOH)LQDQFH$XWKRULW\GHEWVHUYLFHIXQGKDGDGHILFLWIXQGEDODQFHDVRI-XQHRI7KH &LW\LVH[SHFWLQJWRHOLPLQDWHWKLVGHILFLWZLWKIXWXUHWUDQVIHUVIURPRWKHUIXQGV 
7KH,QIRUPDWLRQ7HFKQRORJ\)XQGKDGGHILFLWQHWSRVLWLRQDW-XQHRI7KH&LW\LVH[SHFWLQJWR HOLPLQDWHWKLVGHILFLWWKURXJKIXWXUHLQWHUQDOVHUYLFHUDWHV 
7KH:RUNHUV¶&RPSHQVDWLRQ)XQGKDGGHILFLWQHWSRVLWLRQDW-XQHRI7KH&LW\LVH[SHFWLQJWR HOLPLQDWHWKLVGHILFLWWKURXJKIXWXUHLQWHUQDOVHUYLFHUDWHV 
7KH*HQHUDO/LDELOLW\)XQGKDGGHILFLWQHWSRVLWLRQDW-XQHRI 7KH&LW\LVH[SHFWLQJWR HOLPLQDWH
WKLVGHILFLWWKURXJKIXWXUHLQWHUQDOVHUYLFHUDWHV


82 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 1(7326,7,21$1')81'%$/$1&(6
&217,18('


% &ODVVLILFDWLRQV

'HWDLOHGFODVVLILFDWLRQVRIWKH&LW\¶V)XQG%DODQFHVDVRI-XQHDUHEHORZ 

)XQG%DODQFH&ODVVLILFDWLRQ *HQHUDO)XQG
1RQ0DMRU
*RYHUQPHQWDO
)XQGV 7RWDO
1RQVSHQGDEOH

,WHPVQRWLQVSHQGDEOHIRUP

1RWHVDQGORDQV    3UHSDLGV   

$GYDQFHV    ,QYHQWRULHV    6XEWRWDO   

$PRXQWVUHTXLUHGWREHPDLQWDLQHGLQWDFW

3HUPDQHQWIXQGV  
 

7RWDOQRQVSHQGDEOHIXQGEDODQFHV  
 

5HVWULFWHGIRU

&RPPXQLW\IDFLOLWLHVGLVWULFWV    /DQGVFDSHDQGOLJKWLQJ  

 


6WUHHWSURMHFWV    $IIRUGDEOHKRXVLQJ    7HFKQRORJ\UHSODFHPHQW  
 

/RFDODFFHVVWHOHYLVLRQ    3XEOLFVDIHW\VHUYLFHVDQGSURMHFWV    

2SHQVSDFHPDLQWHQDQFH  
 

)HGHUDOJUDQWSURJUDPV    :LOGOLIHSUHVHUYDWLRQ  
 

&RPPXQLW\GHYHORSPHQW  
 

7UHHSURSDJDWLRQ  
 

$TXDWLFVFRPSOH[PDLQWHQDQFH    

2WKHUFDSLWDOSURMHFWV  
 

7RWDOUHVWULFWHGIXQGEDODQFHV    

&RPPLWWHGWR

(PHUJHQF\UHVHUYH     (FRQRPLFVWDELOL]DWLRQUHVHUYH 
  

&DSLWDOSURMHFWV 
  

3HQVLRQWUXVWFRQWULEXWLRQ    7RWDOFRPPLWWHGIXQGEDODQFHV    $VVLJQHGWR

3ROLFHRSHUDWLRQVDQGVXSSOLHV    )LUHRSHUDWLRQVDQGVXSSOLHV 
  

3DUNV5HFUHDWLRQDQG/LEUDULHVRSHUDWLRQVDQGVXSSOL    

9DULRXVFRQWUDFWV
 

%XLOGLQJDQGJHQHUDOUHKDELOLWDWLRQSURMHFWV    7RWDODVVLJQHGIXQGEDODQFHV    *HQHUDO)XQG    2WKHUJRYHUQPHQWDOIXQGGHILFLWUHVLGXDOV  





8QDVVLJQHG
7RWDOXQDVVLJQHGIXQGEDODQFHV 


 


7RWDOIXQGEDODQFHV  
 
83 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 1(7326,7,21$1')81'%$/$1&(6
&217,18('


& (PHUJHQF\5HVHUYH

7KH&LW\PDLQWDLQVDQ(PHUJHQF\5HVHUYH&RPPLWWHG)XQG%DODQFHWKDWLVVHWDWDPLQLPXPRIRIEXGJHWHG *HQHUDO)XQGRSHUDWLQJH[SHQGLWXUHV$SSURSULDWLRQVIURPWKH(PHUJHQF\5HVHUYHPD\RQO\EHPDGHE\DYRWH RI WKH&LW\&RXQFLOWRPHHWDFULWLFDOXQSUHGLFWDEOHILQDQFLDOQHHGVXFKDVDGHFODUHGHPHUJHQF\ 
' 6WDELOL]DWLRQ5HVHUYH

7KH&LW\DOVRPDLQWDLQVD6WDELOL]DWLRQ5HVHUYHUHSRUWHGDVSDU WRIWKHFRPPLWWHGIXQGEDODQFH7KHVWDELOL]DWLRQ UHVHUYHLVHTXDOWRRIEXGJHWHG*HQHUDO)XQGRSHUDWLQJH[SHQGLWXUHVDVWKHWDUJHWUHVHUYHOHYHO 
$SSURSULDWLRQVPD\RQO\EHPDGHE\DYRWHRIWKH&LW\&RXQFLOLQWKHHYHQWRIWHPSRUDU\UHYHQXHVKRUWIDOOV FDXVHG E\DQHFRQRPLFGRZQWXUQ

127(
 3(16,213/$16

Plan Descriptions ±6XEVWDQWLDOO\DOOIXOOWLPH&LW\HPSOR\HHVDUHHOLJLEOHWRSDUWLFLSDWHLQWKH&LW\¶VVHSDUDWH 6DIHW\

SROLFHDQGILUH
DQG0LVFHOODQHRXV
DOORWKHU
3ODQVDJHQWPX OWLSOHHPSOR\HUGHILQHGEHQHILWSHQVLRQ SODQV DGPLQLVWHUHG E\ WKH &DOLIRUQLD 3XEOLF (PSOR\HHV5HWLUHPHQW 6\VWHP &DO3(56
 ZKLFK DFWV DV D FRPPRQ
LQYHVWPHQWDQGDGPLQLVWUDWLYHDJHQWIRULWVSDUWLFLSDWLQJPHPEHUHPSOR\HUV%HQHILWSURYLVLRQVXQGHUWKH3ODQV DUH HVWDEOLVKHGE\6WDWHVWDWXWHDQGPD\EHDPHQGHGE\&LW\UHVROXWLRQ&DO3(56LVVXHVSXEOLFO\DYDLODEOH UHSRUWV WKDWLQFOXGHDIXOOGHVFULSWLRQRIWKHSHQVLRQSODQVUHJDUGLQJ EHQHILWSURYLVLRQVDVVXPSWLRQVDQG PHPEHUVKLS LQIRUPDWLRQWKDWFDQEHIRXQGRQWKH&DO3(56ZHEVLWH

Benefits Provided ±&DO3(56SURYLGHVUHWLUHPHQWDQGGLVDELOLW\EHQHILWVDQQXDOFRVWRIOLYLQJDGMXVWPHQWVDQGGHDWK EHQHILWVWRSODQPHPEHUVZKRPXVWEHSXEOLFHPSOR\HHVDQGEHQHILFLDULHV%HQHILWVDUHEDVHGRQ\HDUVRIFUHGLWHG VHUYLFHHTXDOWRRQH\HDURIIXOOWLPHHPSOR\PHQW0HPEHUVZLWKILYH\HDUVRIWRWDOVHUYLFHDUH HOLJLEOHWRUHWLUHDW DJHZLWKVWDWXWRULO\UHGXFHGEHQHILWV$OOPHPEHUVDUHHOLJLEOHIRUQRQGXW\GLVDELOLW\ EHQHILWVDIWHU\HDUVRI VHUYLFH7KHGHDWKEHQHILWLVRQHRIWKHIROORZLQJ
WKH%DVLF' HDWKEHQHILWWKH
 6XUYLYRU%HQHILWRUWKH
2SWLRQDO6HWWOHPHQW:'HDWK%HQHILW7KHFRVWRIOLYLQJDGMXVWPHQWVIRUHDFKSODQDUH DSSOLHGDVVSHFLILHGE\WKH 3XEOLF(PSOR\HHV¶5HWLUHPHQW/DZ

84 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 3(16,213/$16
&217,18('


7KH3ODQV¶SURYLVLRQVDQGEHQHILWVLQHIIHFWDWWKHPHDVXUHPHQWGDWHDUHVXPPDUL]HGDVIROORZV 



(PSOR\HHV&RYHUHG±$VRIWKHPHDVXUHPHQWGDWHWKHIROORZLQJHPSOR\HHVZHUHFRYHUHGE\WKHEHQHILWWHUPVIRU HDFK 3ODQ




Contributions ±6HFWLRQ
F
RIWKH&DOLIRUQLD3XEOLF(PSOR\HHV¶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
 DQG

UHVSHFWLYHO\
3ULRUWR-DQXDU\ $IWHU-DQXDU\
%HQHILWYHVWLQJVFKHGXOH \HDUVVHUYLFH \HDUVVHUYLFH %HQHILWSD\PHQWV PRQWKO\IRUOLIH PRQWKO\IRUOLIH
5HWLUHPHQWDJH  
0RQWKO\EHQHILWVDVDRIDQQXDOVDODU\   5HTXLUHGHPSOR\HHFRQWULEXWLRQUDWHV
 
3ROLFH
  
)LUH

5HTXLUHGQRUPDOHPSOR\HUFRQWULEXWLRQUDWHV   3ROLF H
 
)LUH

5HTXLUHGHPSOR\HUSD\PHQWRIXQIXQGHGOLDELOLW\   3ULRUWR-DQXDU\ $IWHU-DQXDU\
%HQHILWYHVWLQJVFKHGXOH \HDUVVHUYLFH \HDUVVHUYLFH %HQHILWSD\PHQWV PRQWKO\IRUOLIH PRQWKO\IRUOLIH
5HWLUHPHQWDJH  
0RQWKO\EHQHILWVDVDRIDQQXDOVDODU\   5HTXLUHGHPSOR\HHFRQWULEXWLRQUDWHV  
5HTXLUHGQRUPDOHPSOR\HUFRQWULEXWLRQUDWHV   
5HTXLUHGHPSOR\HUSD\PHQWRIXQIXQGHGOLDELOLW\ 

 
6DIHW\
+LUHGDWH
0LVFHOODQHRXV
+LUHGDWH
0LVFHOODQHRXV 6DIHW\
,QDFWLYHHPSOR\HHVRUEHQHILFLDULHVFXUUHQWO\UHFHLYLQJEHQHILWV     
,QDFWLYHHPSOR\HHVHQWLWOHGWREXWQRW\HWUHFHLYLQJEHQHILWV    
$FWLYHHPSOR\HHV     7RWDO   

85 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 3(16,213/$16
&217,18('


1HW3HQVLRQ/LDELOLW\

7KH&LW\¶VQHWSHQVLRQOLDELOLW\IRUHDFK3ODQLVPHDVXUHGDVWKHWRWDOSHQVLRQOLDELOLW\OHVVWKHSHQVLRQSODQ¶V ILGXFLDU\QHWSRVLWLRQ7KHQHWSHQVLRQOLDELOLW\RIHDFKRIWKH3ODQVLVPHDVXUHGDVRI-XQHXVLQJDQ DQQXDO DFWXDULDOYDOXDWLRQDVRI-XQHUROOHGIRUZDUGWR-XQH7KHQHWSHQVLRQOLDELOLW\DQGUHODWHGGHIHUUHG RXWIORZVLQIORZVRIUHVRXUFHVDUHOLTXLGDWHGE\WKHIXQGWKDWKDVUHFRUGHGWKHOLDELOLW\7KHORQJWHUPSRUWLRQRI JRYHUQPHQWDODFWLYLWLHVQHWSHQVLRQOLDELOLW\LVOLTXLGDWHGSUL PDULO\E\WKH*HQHUDO)XQG$VXPPDU\RISULQFLSDO DVVXPSWLRQVDQGPHWKRGVXVHGWRGHWHUPLQHWKHQHWSHQVLRQOLDEL OLW\DUHGHVFULEHGEHORZDQGLQWKHIROORZLQJ SDJHV

Actuarial Assumptions ±7KHWRWDOSHQVLRQOLDELOLWLHVLQWKH-XQHDFWXDULDOYDOXDWLRQVZHUHGHWHUPLQHG XVLQJ WKHIROORZLQJDFWXDULDODVVXPSWLRQV




7KHORQJWHUPH[SHFWHGUDWHRIUHWXUQRQSHQVLRQSODQLQYHVWPHQWVZDVGHWHUPLQHGXVLQJDEXLOGLQJEORFN PHWKRG LQZKLFKEHVWHVWLPDWHUDQJHVRIH[SHFWHGIXWXUHUHDOUDWHVRIUHWXUQ H[SHFWHGUHWXUQVQHWRISHQVLRQ SODQ
LQYHVWPHQWH[SHQVHDQLQIODWLRQ
DUHGHYHORSHGIRUHDFKPDMRUDVVHWFODVV,QGHWHUPLQLQJWKHORQJWHUPH[SHFWHG UDWHRIUHWXUQRQSHQVLRQSODQLQYHVWPHQWV&DO3(56WRRNLQWRD FFRXQW ERWKVKRUWDQGORQJWHUPPDUNHWUHWXUQ H[SHFWDWLRQVDVZHOODVWKHH[SHFWHGSHQVLRQIXQGFDVKIORZV6XFKFDVK IORZVZHUHGHYHORSHGDVVXPLQJWKDWERWK PHPEHUVDQGHPSOR\HUVZLOOPDNHWKHLUUHTXLUHGFRQWULEXWLRQVRQ WLPHDQGDVVFKHGXOHGLQDOOIXWXUH\HDUV8VLQJ KLVWRULFDOUHWXUQVRIDOOWKHIXQGV¶DVVHWFODVVHVH[SHFWHG FRPSRXQG

JHRPHWULF
UHWXUQVZHUHFDOFXODWHGRYHUWKH
VKRUWWHUP
ILUVW\HDUV
DQGWKHORQJWHUP
\HDUV
XVLQJDEXLOGLQJEORFNDSSURDFK8VLQJWKHH[SHFWHGQRPLQDO UHWXUQVIRUERWKVKRUWWHUPDQGORQJWHUP WKHSUHVHQWYDOXHRIEHQHILWVZDVFDOFXODWHGIRUHDFKIXQG7KHH[SHFWHG UDWHRIUHWXUQZDVVHWE\FDOFXODWLQJWKHVLQJOHHTXLYDOHQWH[SHFWHGUHWXUQWKDWDUULYHGDWWKHVDPHSUHVHQWYDOXHRI EHQHILWVIRUFDVKIORZVDVWKHRQHFDOFXODWHGXVLQJERWKVKRUWWHUPDQGORQJWHUPUHWXUQV7KHH[SHFWHGUDWHRIUHWXUQ ZDVWKHQVHWHTXLYDOHQW WRWKHVLQJOHHTXLYDOHQWUDWHFDOFXODWHGDERYHDQGURXQGHGGRZQWRWKHQHDUHVWRQHTXDUWHU RIRQHSHUFHQW
9DOXDWLRQ'DWH -XQH
0HDVXUHPHQW'DWH -XQH
$FWXDULDO&RVW0HWKRG (QWU\$JH1RUPDO&RVW0HWKRG
'LVFRXQW5DWH 

,QIODWLRQ 
3D\UROO*URZWK 
3URMHFWHG6DODU\
,QFUHDVH 


,QYHVWPHQW5DWHRI
5HWXUQ 


0RUWDOLW\

'HULYHGXVLQJ&DO3(56¶
0HPEHUVKLS'DWDIRUDOOIXQGV


'HSHQGLQJRQDJHVHUYLFHDQGW\SHRIHPSOR\PHQW


7KH PRUWDOLW\ WDEOH XVHG ZDV GHYHORSHG EDVHG RQ &DO3(56VSHFLILF GDWD7 K H SUREDELOLWLHV RI PRUWDOLW\ DUH EDVHG RQ WKH  &DO3(56 ([SHULHQFH 6WXG\IRU WKH SHULRG IURP 

 WR  3UHUHWLUHPHQW DQG 3RVWUHWLUHPHQW PRUWDOLW\ UDWHV LQFOXGH  \HDUV RI SURMHFWHG PRUWDOLW\ LPSURYHPHQW XVLQJ
 RI 6FDOH 03 SXEOLVKHG E\
WKH 6RFLHW\ RI $FWXDULHV )RU PRUH GHWDLOV RQ WKLV WDEOH SOHDVH UHIHU WR WKH& D O 3 ( 5 6 ([SHULHQFH 6WXG\ DQG 5HYLHZ RI $FWXDULDO $VVXPSWLRQV UHSRUW IURP 'HFHPEHU    WKDWFDQEHIRXQGRQWKH&DO3(56ZHEVLWH
$FWXDULDO$VVXPSWLRQV


1HWRI3HQVLRQ3ODQ,QYHVWPHQWDQG$GPLQLVWUDWLYH([SHQVHV LQFOXGHVLQIODWLRQ
86 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 3(16,213/$16
&217,18('


7KHWDEOHEHORZUHIOHFWVORQJWHUPH[SHFWHGUHDOUDWHRIUHWXUQE\DVVHWFODVV7KHUDWHRIUHWXUQZDVFDOFXODWHGXVLQJ WKHFDSLWDOPDUNHWDVVXPSWLRQVDSSOLHGWRGHWHUPLQHWKHGLVFRXQWUDWHDQGDVVHWDOORFDWLRQ7KHVH JHRPHWULFUDWHV RIUHWXUQDUHQHWRIDGPLQLVWUDWLYHH[SHQVHV



Discount rate ±7KHGLVFRXQWUDWHXVHGWRPHDVXUHWKHWRWDOSHQVLRQOLDELOLW\ ZDV SHUFHQWIRUHDFKSODQ7KH
SURMHFWLRQRIFDVKIORZVXVHGWRGHWHUPLQHWKHGLVFRXQWUDWHDVVXPHGWKDWHPSOR\HHFRQWULEXWLRQVZLOOEHPDGH DW WKHFXUUHQWFRQWULEXWLRQUDWHDQGWKDWWKHGLVWULFW¶VFRQWULEXWLRQVZLOOEHPDGHDWUDWHVHTXDOWRWKHGLIIHUHQFHEHWZHHQ DFWXDULDOO\GHWHUPLQHGFRQWULEXWLRQVUDWHVDQGWKHHPSOR\HHUDWH%DVHGRQWKRVHDVVXPSWLRQVHDFKSHQVLRQSODQ¶V ILGXFLDU\QHWSRVLWLRQZDVSURMHFWHGWREHDYDLODEOHWRPDNHDOOSURMHFWHGIXWXUHEHQHILWSD\PHQWV RIFXUUHQWDFWLYH DQGLQDFWLYHHPSOR\HHV7KHUHIRUHWKHORQJWHUPH[SHFWHGUDWHRIUHWXUQRQSHQVLRQSODQ LQYHVWPHQWVZDVDSSOLHG WRDOOSHULRGVRISURMHFWHGEHQHILWSD\PHQWVWRGHWHUPLQHWKHWRWDOSHQVLRQOLDELOLW\ $VVHW&ODVV

$VVHW
$OORFDWLRQ
5HDO5HWXUQ
<HDUV

5HDO5HWXUQ
<HDUV

*OREDO(TXLW\   

)L[HG,QFRPH   
,QIODWLRQ$VVHWV   
3ULYDWH(TXLW\   
5HDO(VWDWH   

/LTXLGLW\  




$QH[SHFWHGLQIODWLRQRIXVHGIRUWKLVSHULRG

$QH[SHFWHGLQIODWLRQRI
XVHGIRUWKLVSHULRG

,QWKH%DVLF)LQDQFLDO6WDWHPHQW)L[HG,QFRPHLVLQFOXGHGLQ*OREDO 87 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 3(16,213/$16
&217,18('


&KDQJHVLQWKH1HW3HQVLRQ/LDELOLW\

7KHFKDQJHVLQWKHQHWSHQVLRQOLDELOLW\IRUHDFK3ODQDVRIWKHPHDVXUHPHQWGDWHRI-XQHIROORZV 



Miscellaneous Plan:
7RWDO3HQVLRQ
/LDELOLW\
D

3ODQ)LGXFLDU\
1HW3RVLWLRQ
E

1HW3HQVLRQ
/LDELOLW\

D

E
 
F

%DODQFHVDVRI-XQH
0HDVXUHPHQW'DWH
  


  
 
&KDQJHVIRUWKH\HDU

6HUYLFHFRVW 
    

,QWHUHVWRQWRWDOSHQVLRQOLDELOLW\ 
    

&KDQJHVLQDVVXPSWLRQV 
    

'LIIHUHQFHVEHWZHHQH[SHFWHGDQGDFWXDOH[SHULHQFH 


    



&RQWULEXWLRQHPSOR\HU    





&RQWULEXWLRQHPSOR\HH    

1HWLQYHVWPHQWLQFRPH  



 

 
%HQHILWSD\PHQWVLQFOXGLQJUHIXQGVRIHPSOR\HHFRQWULEXWLRQV  


  
$GPLQLVWUDWLYHH[SHQVHV  

  
1HWFKDQJHV 
 

 

%DODQFHVDVRI-XQH
0HDVXUHPHQW'DWH
  
   
Safety Plan:
7RWDO3HQVLRQ
/LDELOLW\
D

3ODQ)LGXFLDU\
1HW3RVLWLRQ
E

1HW3HQVLRQ
/LDELOLW\

D

E
 
F

%DODQFHVDVRI-XQH
0HDVXUHPHQW'DWH


     
&KDQJHVIRUWKH\HDU

6HUYLFHFRVW      ,QWHUHVWRQWRWDOSHQVLRQOLDELOLW\ 
    

&KDQJHVLQDVVXPSWLRQV      'LIIHUHQFHVEHWZHHQH[SHFWHGDQGDFWXDOH[SHULHQFH


  
 


&RQWULEXWLRQHPSOR\HU    



&RQWULEXWLRQHPSOR\HH      

1HWLQYHVWPHQWLQFRPH  
 

 

%HQHILWSD\PHQWVLQFOXGLQJUHIXQGVRIHPSOR\HHFRQWULEXWLRQV  


 
$GPLQLVWUDWLYHH[SHQVHV 


 

1HWFKDQJHV 

 
%DODQFHVDVRI-XQH
0HDVXUHPHQW'DWH
 


 


7RWDORIERWKPLVFHOODQHRXVDQGVDIHW\SODQV    
,QFUHDVH
'HFUHDVH

,QFUHDVH
'HFUHDVH

88 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 3(16,213/$16
&217,18('

Sensitivity of the Net Pension Liability to Changes in the Discount Rate ±7KHIROORZLQJSUHVHQWVWKHQHWSHQVLRQ OLDELOLW\RIWKH&LW\IRUHDFK3ODQFDOFXODWHGXVLQJWKHGLVFR XQWUDWHIRUHDFK3ODQDVZHOODVZKDWWKH&LW\¶VQHW SHQVLRQOLDELOLW\ZRXOGEHLILWZHUHFDOFXODWHGXVLQJDGLVFRXQWUDWHWKDWLVSHUFHQWDJHSRLQWORZHURU SHUFHQWDJH SRLQWKLJKHUWKDQWKHFXUUHQWUDWH

Pension Plan Fiduciary Net Position ±'HWDLOHGLQIRUPDWLRQDERXWHDFKSHQVLRQSODQV¶ILGXFLDU\QHWSRVLWLRQLV DYDLODEOHLQWKHVHSDUDWHO\LVVXHG&DO3(56ILQDQFLDOUHSRUWV 
3HQVLRQ([SHQVHDQG'HIHUUHG2XWIORZV,QIORZVRI5HVRXUFHV5HODWHGWR3HQVLRQV 
)RUWKH\HDUHQGHG-XQHWKH&LW\UHFRJQL]HGSHQVLRQH[SHQVHRILQWKH0LVFHOODQHRXV3ODQ DQG
LQWKH6DIHW\3ODQ$W-XQHWKH&LW\UHSRUWHGGHIHUUHGRXWIORZVRIUHVRXUFHVDQGGHIHUUHG LQIORZVRIUHVRXUFHVUHODWHGWRSHQVLRQVIURPWKHIROORZLQJVRXUFHV 



0LVFHOODQHRXV 6DIHW\ 7RWDO
'HFUHDVH 
 
 

1HW3HQVLRQ/LDELOLW\ 
 

 

&XUUHQW'LVFRXQW5DWH 
 
 

1HW3HQVLRQ/LDELOLW\  

 
,QFUHDVH 
 
 

1HW3HQVLRQ/LDELOLW\ 


 

 

'HIHUUHG2XWIORZV 'HIHUUHG,QIORZV
RI5HVRXUFHV RI5HVRXUFHV
3HQVLRQFRQWULEXWLRQVVXEVHTXHQWWRPHDVXUHPHQWGDWH    &KDQJHVRIDVVXPSWLRQ 
   
'LIIHUHQFHEHWZHHQH[SHFWHGDQGDFWXDOH[SHULHQFH 
   
1HWGLIIHUHQFHEHWZHHQSURMHFWHGDQGDFWXDOHDUQLQJV
RQSODQLQYHVWPHQWV     7RWDO 
   
'HIHUUHG2XWIORZV 'HIHUUHG,QIORZV
RI5HVRXUFHV RI5HVRXUFHV
3HQVLRQFRQWULEXWLRQVVXEVHTXHQWWRPHDVXUHPHQWGDWH    &KDQJHVRIDVVXPSWLRQ  


'LIIHUHQFHEHWZHHQH[SHFWHGDQGDFWXDOH[SHULHQFH    

1HWGLIIHUHQFHEHWZHHQSURMHFWHGDQGDFWXDOHDUQLQJV
RQSODQLQYHVWPHQWV     7RWDO 
 
 


7RWDO3ULPDU\*RYHUQPHQW 

 
 


6DIHW\
0LVFHOODQHRXV
89 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 3(16,213/$16
&217,18('


7KHDPRXQWRILQWKHPLVFHOODQHRXVSODQDQG LQWKHVDIHW\SODQUHSRUWHGDVGHIHUUHG RXWIORZVRIUHVRXUFHVUHODWHGWRFRQWULEXWLRQVVXEVHTXHQWWRWKHPHDVXUHPHQWGDWHZLOOEHUHFRJQL]HGDVDUHGXFWLRQ RIWKHQHWSHQVLRQOLDELOLW\LQWKH\HDUHQGHG-XQH2 WKHUDPRXQWVUHSRUWHGDVGHIHUUHG RXWIORZVRI UHVRXUFHVDQGGHIHUUHGLQIORZVRIUHVRXUFHVUHODWHGWRSHQVLRQVZLOOEHUHFRJQL]HGDVSHQVLRQ H[SHQVHDVIROORZV 


127(
 27+(53267(03/2<0(17%(1(),76

3ODQ'HVFULSWLRQ

7KH&LW\SURYLGHVPHGLFDOEHQHILWVWRVXEVWDQWLDOO\DOOUHWLUHHVXQGHUWKH&LW\RI5RVHYLOOH5HWLUHH+HDOWKFDUH3ODQ

3ODQ
DVROHHPSOR\HUGHILQHGEHQHILWKHDOWKFDUHSODQDGPLQLVWHUHGE\WKH7UXVW,QYHVWPHQW5HYLHZ &RPPLWWHH 7KH&LW\LVUHVSRQVLEOHIRUHVWDEOLVKLQJDQGDPHQGLQJWKHIXQGLQJSROLF\RIWKH3ODQ7KH3ODQ ILQDQFLDOVWDWHPHQWV FDQEHREWDLQHGDWZZZURVHYLOOHFDXVRUE\FRQWDFWLQJWKH&LW \RI5RVHYLOOH$FFRXQWLQJ 'LYLVLRQDW9HUQRQ 6WUHHW5RVHYLOOH&DOLIRUQLD


Benefits Provided ±7KH3ODQSURYLGHVPHGLFDOGHQWDODQGYLVLRQLQVXUDQFHEHQHIL WVWRHOLJLEOHUHWLUHHVDQGWKHLU GHSHQGHQWV%HQHILWVDUHSURYLGHGWKURXJKDWKLUGSDUW\LQVXUHUDQGWKHIXOOFRVWRIWKHEHQHILWVLVFRYHUHGE\ WKH 3ODQ%HQHILWSURYLVLRQVDUHHVWDEOLVKHGDQGPD\EHDPHQGHGE\&LW\ODERUDJUHHPHQWVZKLFKDUHDSSURYHG E\ WKH&LW\&RXQFLO

Employees Covered By Benefit Terms ±$VRIPHDVXUHPHQWGDWHWKHIROORZLQJHPSOR\HHVZHUHFRYHUHG E\WKH EHQHILWWHUPV



&RQWULEXWLRQV±7KHFRQWULEXWLRQUHTXLUHPHQWVRISODQPHPEHUVDQGWKH&LW\DUHHVWDEOLVKHGDQGPD\EH DPHQGHG E\WKH&LW\&RXQFLO7KH&LW\&RXQFLOHVWDEOLVKHVUDWHVEDVHGRQDQDFWXDULDOO\GHWHUPLQHGUDWH)RUWKH \HDUHQGHG -XQHWKH&LW\FRQWULEXWHG
WRWKH3ODQ
<HDUHQGHG-XQH
0LVFHOODQHRXV 6DIHW\ 7RWDOSULPDU\
 
  


 
  

  
 
   
    
  
'HIHUUHG2XWIORZV
1XPEHURI&RYHUHG
3DUWLFLSDQWV
$FWLYH 
,QDFWLYHHPSOR\HHVRUEHQHILFLDULHVFXUUHQWO\UHFHLYLQJEHQHILWV   ,QDFWLYHHPSOR\HHVHQWLWOHGWREXWQRW\HWUHFHLYLQJEHQHILWV   7RWDO 

90 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 27+(53267(03/2<0(17%(1(),76
&217,18('


1HW23(%/LDELOLW\

7KH&LW\¶VQHW23(%OLDELOLW\ZDVPHDVXUHGDVRI-XQHDQGWKHWRWDO23(%OLDELOLW\XVHGWRFDOFXODWHWKH QHW23(%OLDELOLW\ZDVGHWHUPLQHGE\DQDFWXDULDOYDOXDWLRQDVRI-XQH7KHQHW23(%OLDELOLW\DQGUHODWHG GHIHUUHGRXWIORZVLQIORZVRIUHVRXUFHVDUHOLTXLGDWHGE\WKHIXQGWKDWKDVUHFRUGHGWKHOLDELOLW\7KHORQJWHUPSRUWLRQ RIJRYHUQPHQWDODFWLYLWLHVQHW23(%OLDELOLW\LVOLTXLGDWHGSULPDULO\E\WKH*HQHUDO)XQG 
Actuarial Assumptions ±7KHWRWDO23(%OLDELOLW\LQWKH-XQHDFWXDULDOYDOXDWLRQZDVGHWHUPLQHGXVLQJ WKH IROORZLQJDFWXDULDODVVXPSWLRQVDSSOLHGWRDOOSHULRGVLQFOXGHGLQWKHPHDVXUHPHQWXQOHVVRWKHUZLVH VSHFLILHG 



7KHWDEOHEHORZUHIOHFWVORQJWHUPH[SHFWHGUHDOUDWHRIUHWXUQE\DVVHWFODVV7KHUDWHRIUHWXUQZDVFDOFXODWHGXVLQJ WKHFDSLWDOPDUNHWDVVXPSWLRQVDSSOLHGWRGHWHUPLQHWKHGLVFRXQWUDWHDQGDVVHWDOORFDWLRQ7KHVH JHRPHWULFUDWHV RIUHWXUQDUHQHWRIDGPLQLVWUDWLYHH[SHQVHV


9DOXDWLRQ'DWH -XQH
0HDVXUHPHQW'DWH -XQH
&RQWULEXWLRQ3ROLF\
'LVFRXQW5DWH 
([SHFWHG/RQJ7HUP5DWHRI5HWXUQ 6DPHDVGLVFRXQWUDWHH[SHFW HG&LW\FRQWULEXWLRQV SURMHFWHGWRNHHSVXIILFLHQWSODQDVVHWVWRSD\DOOEHQHILWV IURPWUXVW
*HQHUDO,QIODWLRQ 
0RUWDOLW\5HWLUHPHQW'LVDELOLW\
7HUPLQDWLRQ
&DO3(56

([SHULHQFH6WXG\
0RUWDOLW\,PSURYHPHQW 0RUWDOLW\SURMHFWHGIXOO\JHQHUDWLRQDOZLWK6FDOH03

6DODU\,QFUHDVHV $JJUHJDWH
0HULW&DO3(56

([SHULHQFH6WXG\
0HGLFDO7UHQG 1RQ0HGLFDUHIRUGHFUHDVLQJWRDQXOWLPDWH UDWHRILQ
0HGLFDUHIRUGHFUHDVLQJWRDQXOWLPDWH
UDWHRILQ
+HDOWKFDUH3DUWLFLSDWLRQ 7LHU

7LHU 5))
DWRIFDSWRDWRI
FDS
7LHU1RQ5)) 7LHU

3UH)XQGHG ZLWK SD\JR SOXV D SHUFHQW RI SD\ ZKLFK
YDULHVE\HPSOR\HHJURXS
7DUJHW
$OORFDWLRQ
([SHFWHG5HDO
5DWHRI5HWXUQ
 
 

$VVXPHGORQJWHUPUDWHRILQIODWLRQ 
([SHFWHG/RQJ7HUP1HW5DWHRI5HWXUQ5RXQGHG 
)L[HG,QFRPH
$VVHW&ODVV&RPSRQHQW
(TXLWLHV
91 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 27+(53267(03/2<0(17%(1(),76
&217,18('

Discount rate – 7KHGLVFRXQWUDWHXVHGWRPHDVXUHWKHWRWDO23(%OLDELOLW\ZDVSHUFHQW7KHSURMHFWLRQRIFDVK IORZVXVHGWRGHWHUPLQHWKHGLVFRXQWUDWHDVVXPHGWKDW&LW\FRQ WULEXWLRQVZLOOEHP DGHDWUDWHVHTXDOWR WKH DFWXDULDOO\GHWHUPLQHGFRQWULEXWLRQUDWHV%DVHGRQWKRVHDVVXPSWLRQVWKH23(%SODQ¶VILGXFLDU\QHW SRVLWLRQZDV SURMHFWHGWREHDYDLODEOHWRPDNHDOOSURMHFWHG23(%SD\PHQWVIRUFXUUHQWDFWLYHDQGLQDFWLYHHPSOR\HHV7KHUHIRUH WKHORQJWHUPH[SHFWHGUDWHRIUHWXUQRQ23(%SODQLQYHVWPHQWV ZDVDSSOLHGWRDOO SHULRGVRISURMHFWHGEHQHILW SD\PHQWVWRGHWHUPLQHWKHWRWDO23(%OLDELOLW\

&KDQJHV,Q1HW23(%/LDELOLW\



Sensitivity of the net OPEB liability to changes in the discount rate and healthcare cost trend rates ±7KH IROORZLQJ SUHVHQWVWKHQHW23(%OLDELOLW\RIWKH&LW\DVZHOODVZKDWWKH&LW\¶VQHW23(%OLDELOLW\ZRXOGEHLILWZHUHFDOFXODWHG XVLQJDGLVFRXQWUDWHWKDWLVSHUFHQWDJHSRLQWORZHU SH UFHQW
RUSHUFHQWDJHSRLQW KLJKHU
SHUFHQW

WKDQWKHFXUUHQWGLVFRXQWUDWH




Sensitivity of the net OPEB liability to c hanges in the healthcare cost trend rates ±7KHIROORZLQJSUHVHQWVWKHQHW 23(%OLDELOLW\RIWKH&LW\DVZHOODVZKDWWKH&LW\¶VQHW23(%OLDELOLW\ZRXOGEHLILWZHUHFDOFXODWHGXVLQJ KHDOWKFDUH FRVWWUHQGUDWHVUDWKHUWKDQWKHGLVFRXQWUDWHWKDWDUHSHUFHQWDJHSRLQWORZHU SHUFHQWGHFUHDVLQJWR
SHUFHQW
RUSHUFHQWDJHSRLQWKLJKHU
SHUFHQWGHFUHDVLQJWRSHUFHQW
WKDQWKHFXUUHQWKHDOWKFDUHFRVW
WUHQGUDWHV




OPEB plan fiduciary net position ±'HWDLOHGLQIRUPDWLRQDERXWWKH3ODQ¶VILGXFLDU\QHWSRVLWLRQ LVDYDLODEOHLQWKH VHSDUDWHO\LVVXHG&LW\RI5RVHYLOOH2WKHU3RVW(PSOR\PHQW%HQHILWV7UXVWILQDQFLDOUHSRUW 
7RWDO23(%
/LDELOLW\
D

)LGXFLDU\1HW
3RVLWLRQ
1HW23(%
/LDELOLW\
%DODQFHVDVRI-XQH
0HDVXUHPHQW'DWH


 
 
&KDQJHVIRUWKH\HDU

6HUYLFHFRVW    ,QWHUHVWRQWRWDOSHQVLRQOLDELOLW\ 
  

&RQWULEXWLRQHPSOR\HU
 




1HWLQYHVWPHQWLQFRPH  




%HQHILWSD\PHQWVLQFOXGLQJUHIXQGVRIHPSOR\HHFRQWULEXWLRQV 


 
$GPLQLVWUDWLYHH[SHQVHV 


 

1HWFKDQJHV 

 


%DODQFHVDVRI-XQH
0HDVXUHPHQW'DWH

 
 


&RQWULEXWLRQVWRWKHWUXVWRI
SOXV
FDVKEHQHILWSD\PHQWVDQGLPSOLFLWVXEVLG\ 'LVFRXQW5DWH &XUUHQW'LVFRXQW5DWH 'LVFRXQW5DWH







1HW23(%/LDELOLW\ 
 
 
'HFUHDVLQJ &XUUHQW+HDOWKFDUH7UHQG ,QFUHDVLQJ

GHFUHDVLQJ 5DWH
GHFUHDVLQJ
GHFUHDVLQJ
WR
WR
WR

1HW23(%/LDELOLW\  
 
92 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 27+(53267(03/2<0(17%(1(),76
&217,18('


23(%([SHQVHDQG'HIHUUHG2XWIORZVRI5HVRXUFHVDQG'HIHUUHG,QIORZVRI5HVRXUFHV5HODWHGWR23(% 
)RUWKH\HDUHQGHG-XQHWKH&LW\UHFRJQL]HG23(%H[SH QVHRI$W-XQHWKH&LW\ UHSRUWHGGHIHUUHGRXWIORZVRIUHVRXUFHVDQGGHIHUUHGLQIORZVRI UHVRXUFHVUHODWHGWR23(%IURPWKHIROORZLQJ

VRXUFHV




$PRXQWVUHSRUWHGDVGHIHUUHGRXWIORZVRIUHVRXUFHV DQGGHIHUUHGLQIORZVRIUHVRXUFHVUHODWHGWR23(%Z LOOEH UHFRJQL]HGLQ23(%H[SHQVHDVIROORZV




127(
 3267(03/2<0(17%(1(),7675867

3ODQ'HVFULSWLRQ

Plan administration ±7KH&LW\RI5RVHYLOOH5HWLUHH+HDOWKFDUH3ODQ 3ODQ
LVDVLQJ OHHPSOR\HUGHILQHGEHQHILW
KHDOWKFDUHSODQWKDWLVXVHGWRSURYLGHSRVWHPSOR\PHQWEHQHILWV RWKHUWKDQSHQVLRQV 23(%
LQFOXGLQJPHGLFDO
GHQWDODQGYLVLRQLQVXUDQFHEHQHILWVWRHOLJLEOHUHWLUHHV0DQDJHPHQWRIWKHSODQLVYHVWHGZLWKWKH7UXVW,QYHVWPHQW 5HYLHZ&RPPLWWHH
&RPPLWWHH
7KH&RPPLWWHHFRQVLVWVRIQLQHPH PEHUVDSSRLQWHGE\WKH&LW\ 0DQDJHU,W LQFOXGHVRQHPHPEHUIURPHDFKRIWKH&LW\¶VHPSOR\HHODERUEDUJ DLQLQJJURXSV 
RQHUHWLUHHRQH LQYHVWPHQW
SURIHVVLRQDOWKH&LW\+XPDQ5HVRXUFH'LUHFWRUDQGWKH&LW\7UHDVXUHU $VVLVWDQW&LW\ 0DQDJHU&KLHI)LQDQFLDO
2IILFHU


7KH&LW\KDVGHOHJDWHGDXWKRULW\RIWKH23(%WUXVWWR3)0$VVHW0DQDJHPHQW//& 3)0
SHUWKHWUXVWDJUHHPHQW
8SRQVLJQLQJWKHDJUHHPHQW3)0KDVEHHQGHHPHGWRKDYHH[HFXWH GWKH7UXVWDQGGXULQJWKHWHUP RIWKLV $JUHHPHQW3)0IXUWKHUDJUHHGWRVHUYHDVDGLVFUHWLRQDU\WUXVWHHZLWKILGXFLDU\RYHUVLJKWDQGDXWKRULW\ RYHUWKH RSHUDWLRQVDQGPDQDJHPHQWRIWKH7UXVW
'HIHUUHG2XWIORZV 'HIHUUHG,QIORZV
RI5HVRXUFHV RI5HVRXUFHV
'LIIHUHQFHEHWZHHQH[SHFWHGDQGDFWXDOH[SHULHQFH   


&KDQJHRIDVVXPSWLRQV 


   
1HWGLIIHUHQFHEHWZHHQSURMHFWHGDQGDFWXDOHDUQLQJV
RQSHQVLRQSODQLQYHVWPHQWV 
   
7RWDO 
   
<HDUHQGHG-XQH

'HIHUUHG2XWIORZV

,QIORZV
RI5HVRXUFHV
















7KHUHDIWHU





93 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 3267(03/2<0(17%(1(),7675867
&217,18('

Plan membership ±$W-XQHWKH3ODQPHPEHUVKLSFRQVLVWHGRIWKHIROORZLQJ 



Benefits Provided ±7KH3ODQSURYLGHVPHGLFDOGHQWDODQGYLVLRQLQVXUDQFHEHQHI LWVWRHOLJLEOHUHWLUHHVDQGWKHLU GHSHQGHQWV%HQHILWVDUHSURYLGHGWKURXJKDWKLUGSDUW\LQVXUHUDQGWKHIXOOFRVWRIWKHEHQHILWVLVFRYHUHGE\ WKH 3ODQ%HQHILWSURYLVLRQVDUHHVWDEOLVKHGDQGPD\EHDPHQGHGE\&LW\ODERUDJUHHPHQWVZKLFKDUHDSSURYHG E\ WKH&LW\&RXQFLO

Contributions±7KHFRQWULEXWLRQUHTXLUHPHQWVRISODQPHPEHUVDQGWKH&LW\DUHHVWDEOLVKHGDQGPD\EH DPHQGHG E\WKH&LW\&RXQFLO7KH&RXQFLOHVWDEOLVKHVUDWHVEDVHGRQDQ DFWXDULDOO\GHWHUPLQHGUDWH)RUWKH\HDU HQGHG -XQHWKH&LW\PDGHFRQWULEXWLRQVRI
SOXV
FDVKEHQHILWSD\PHQWVDQG
LPSOLHGVXEVLG\EHQHILWSD\PHQWVE\WKH&LW\3ODQPHPEHUVUHFHLYLQJEHQHILWVFRQWULEXWHG 
,QYHVWPHQWV$XWKRUL]HGIRUWKH2WKHU3RVW(PSOR\PHQW%HQHILWV7UXVW)XQG 
7KHDXWKRUL]HGLQYHVWPHQWVIRUWKH2WKHU3RVW(PSOR\PHQW%HQHILWV7UXVW 7UXVW
ZHUHHVWDEOLVKHGSXUVXDQWWR WKH
7UXVW$JUHHPHQW7KH&LW\DVWUXVWHHKDVHOHFWHGWRLQYHVWWKH7UXVWDVVHWVLQXSWRVL[PRQWKVRIFDVKFDVK HTXLYDOHQWDQGRUPRQH\PDUNHWIXQGVIRUQHDUWHUP7UXVWEHQHIL WVDQGH[SHQVHV$OOUHPDLQLQJDVVHWVZLOOEH LQYHVWHGLQORQJHUWHUPVHFXULWLHVDQGVKDOOEHGLYHUVLILHGZLWKWKHLQWHQWWRPLQLPL]HWKHULVNRIORQJWHUPLQYHVWPHQW ORVVHV&RQVHTXHQWO\WKHWRWDOSRUWIROLRZLOOEHFRQVWUXFWHGDQGPDLQWDLQHGWRSURYLGH GLYHUVLILFDWLRQZLWKUHJDUGWR WKHFRQFHQWUDWLRQRIKROGLQJVLQLQGLYLGXDOLVVXHVLVVXHUVFR XQWULHVJRYHUQPHQWV RULQGXVWULHV7RDFKLHYHWKH 7UXVW¶VLQYHVWPHQWREMHFWLYHVDQGWKHEHVWEDODQFHEHWZHHQULVNDQGUHWXUQIRU RSWLPDOGLYHUVLILFDWLRQDVVHWVZLOOEH LQYHVWHGLQDFFRUGDQFHZLWKWKHWDUJHWVIRUHDFKDVVHWFODVVDVIROORZVWR DWWHPSWWRDFKLHYHDORQJWHUPDYHUDJH WRWDODQQXDOUDWHRIUHWXUQWKDWLVHTXDOWRRUJUHDWHUWKDQWKH7UXVW¶V DFWXDULDOGLVFRXQWUDWHDVGHVFULEHGDERYH 

Rate of return ±)RUWKH\HDUHQGHG-XQHWKHDQQXDOPRQH\ZHLJKWHGU DWHRIUHWXUQRQLQYHVWPHQWV  QHW RI LQYHVWPHQW H[SHQVH ZDV 
 SHUFHQW 7KH PRQH\ZHLJKWHG UDWH RI UHWXUQ H[SUHVVHV LQYHVWPHQW SHUIRUPDQFHQHWRILQYHVWPHQWH[SHQVHDGMXVWHGIRUWKHFKDQJLQJDPRXQWVDFWXDOO\LQYHVWHG 1XPEHURI
&RYHUHG
3DUWLFLSDQWV
$FWLYH  
,QDFWLYHHPSOR\HHVRUEHQHILFLDULHVFXUUHQWO\UHFHLYLQJEHQHILWV   ,QDFWLYHHPSOR\HHVHQWLWOHGWREXWQRW\HWUHFHLYLQJEHQHILWV  7RWDO 

7DUJHW
$OORFDWLRQ
([SHFWHG5HDO
5DWHRI5HWXUQ
 
 

$VVXPHGORQJWHUPUDWHRILQIODWLRQ 
([SHFWHG/RQJ7HUP1HW5DWHRI5HWXUQ5RXQGHG 
)L[HG,QFRPH
$VVHW&ODVV&RPSRQHQW
(TXLWLHV
94 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 3267(03/2<0(17%(1(),7675867
&217,18('


1HW23(%/LDELOLW\RI7KH&LW\

7KHFRPSRQHQWVRIWKHQHW23(%OLDELOLW\RIWKH&LW\DW-XQHZHUHDVIROORZV 



Actuarial assumptions ± 7KH WRWDO 23(% OLDELOLW\ ZDV GHWHUPLQHG E\ DQ DFWXDULDO YDOXDWLRQ DV RI -XQH XVLQJWKHIROORZLQJDFWXDULDODVVXPSWLRQVDSSOLHGWRDOOSHULRGVLQFOXGHGLQWKHPHDVXUHPHQWXQOHVV RWKHUZLVH VSHFLILHG




7KHORQJWHUPH[SHFWHGUDWHRIUHWXUQRQ23(%SODQLQYHVWPHQWVZDVGHWHUPLQHGXVLQJDEXLOGLQJEORFNPHWKRG LQ ZKLFKEHVWHVWLPDWHUDQJHVRIH[SHFWHGIXWXUHUHDOUDWHVRIUHWXUQ H[SHFWHGUHWXUQVQHWRILQYHVWPHQWH[SHQVHDQG

LQIODWLRQ
DUHGHYHORSHGIRUHDFKPDMRUDVVHWFODVV7KHVHUDQJHVDUHFRPELQHGWRSURGXFHWKH ORQJWHUPH[SHFWHG UDWHRIUHWXUQE\ZHLJKWLQJWKHH[SHFWHGIXWXUHUHDOUDWHVRIUHWXUQE\WKHWDUJHWDVVHWDOORFDWLRQSHUFHQWDJHDQGE\ DGGLQJH[SHFWHGLQIODWLRQ%HVWHVWLPDWHVRIDULWKPHWLFUHDOUDWHVRIUHWXUQIRUHDFK PDMRUDVVHWFODVVLQFOXGHGLQWKH WDUJHWDVVHWDOORFDWLRQDVRI-XQH
VHHWKHGLVFXVVLRQRIWKH3ODQ¶V LQYHVWPHQWSROLF\


7RWDO23(%/LDELOLW\ 

3ODQ)LGXFLDU\1HW3RVLWLRQ 

&LW\
V1HW23(%/LDELOLW\ 

3ODQ)LGXFLDU\1HW3RVLWLRQDVD3HUFHQWDJHRIWKH7RWDO23(% 9DOXDWLRQ'DWH -XQH
0HDVXUHPHQW'DWH -XQH
&RQWULEXWLRQ3ROLF\
'LVFRXQW5DWH 
([SHFWHG/RQJ7HUP5DWHRI5HWXUQ 6DPHDVGLVFRXQWUDWHH[SHFW HG&LW\FRQWULEXWLRQV SURMHFWHGWRNHHSVXIILFLHQWSODQDVVHWVWRSD\DOOEHQHILWV IURPWUXVW
*HQHUDO,QIODWLRQ 
0RUWDOLW\5HWLUHPHQW'LVDELOLW\
7HUPLQDWLRQ
&DO3(56

([SHULHQFH6WXG\
0RUWDOLW\,PSURYHPHQW 0RUWDOLW\SURMHFWHGIXOO\JHQHUDWLRQDOZLWK6FDOH03

6DODU\,QFUHDVHV $JJUHJDWH
0HULW&DO3(56

([SHULHQFH6WXG\
0HGLFDO7UHQG 1RQ0HGLFDUHIRUGHFUHDVLQJWRDQXOWLPDWH UDWHRILQ
0HGLFDUHIRUGHFUHDVLQJWRDQXOWLPDWH
UDWHRILQ
+HDOWKFDUH3DUWLFLSDWLRQ 7LHU

7LHU 5))
DWRIFDSWRDWRI
FDS
7LHU1RQ5)) 7LHU

3UH)XQGHG ZLWK SD\JR SOXV D SHUFHQW RI SD\ ZKLFK
YDULHVE\HPSOR\HHJURXS
95 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 3267(03/2<0(17%(1(),7675867
&217,18('

Sensitivity of the net OPEB liability to changes in the discount rate ±7KHIROORZLQJSUHVHQWVWKHQHW23(%OLDELOLW\ RI WKH&LW\DVZHOODVZKDWWKH&LW\¶VQHW23(%OLDELOLW\ZRXOGE HLILWZHUHFDOFXODWHGXVLQJDGLVFRXQWUDWHWKDWLV  SHUFHQWDJHSRLQWORZHU
SHUFHQW
RUSHUFHQWDJHSRLQWKLJKHU
SHUFHQW
WKDQWKHFXUUHQWGLVFRXQW UDWH




Sensitivity of the net OPEB liability to c hanges in the healthcare cost trend rates ±7KHIROORZLQJSUHVHQWVWKHQHW 23(%OLDELOLW\RIWKH&LW\DVZHOODVZKDWWKH&LW\¶VQHW23(%OLDELOLW\ZRXOGEHLILWZHUHFDOFXODWHGXVLQJ KHDOWKFDUH FRVWWUHQGUDWHVWKDWDUHSHUFHQWDJHSRLQWORZHU
SHUFHQWGHFUHDVLQJWRSHUFHQW
RUSHUFHQWDJHSRLQW
KLJKHU
SHUFHQWGHFUHDVLQJWRSHUFHQW
WKDQWKHFXUUHQWKHDOWKFDUHFRVWWUHQGUDWHV




127(
 5,6.0$1$*(0(17

7KH&LW\PDQDJHVULVNRIORVVUHODWHGWRWRUWV
WKHIWRIGDPDJHWRDQGGHVWUXFWLRQRIDVVHWV
HUURUVDQG RPLVVLRQV

LQMXULHVWRHPSOR\HHV
DQGQDWXUDOGLVDVWHUVE\SDUWLFLSDWLQJLQWKHSXEOLFHQWLW\ULVNSRROVGHVFULEHG EHORZDQGE\ UHWDLQLQJFHUWDLQULVNV

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¶VUHVSRQVLELOLW\

7KHFRQWULEXWLRQVPDGHWRWKHULVNSRROVEHORZHTXDOWKHUDWLRRIWKHUHVSHFWLYHPHPEHUSD\UROOVWRWKHWRWDO SD\UROOV RIDOOHQWLWLHVSDUWLFLSDWLQJLQWKHVDPHOD\HURIHDFKSURJUDPLQHDFKSURJUDP\HDU$FWXDOVXUSOXVHVRU ORVVHVDUH VKDUHGDFFRUGLQJWRDIRUPXODGHYHORSHGIURPRYHUDOOORVVFRVWVDQGVSUHDGWRPHPEHUHQWLWLHVRQD SHUFHQWDJH EDVLVDIWHUDUHWURVSHFWLYHUDWLQJ

$ 5LVN&RYHUDJH

*HQHUDO/LDELOLW\3URSHUW\DQG%RLOHUDQG0DFKLQHU\

7KH&LW\LVDPHPEHURIWKH&DOLIRUQLD-RLQW3RZHUV5LVN0DQDJHPHQW$XWKRULW\ &-350$
ZKLFKFRYHUVJHQHUDO
OLDELOLW\FODLPVSURSHUW\DQGERLOHUDQGPDFKLQHU\ORVVHV2Q FHWKH&LW\¶VVHOILQVXUHGUHWHQWLRQ 6,5
LVPHW
&-350$EHFRPHV UHVSRQVLEOHIRUSD\PHQWRIDOOFODLPVXSWRWKHOLPLW)LQDQFLDOVWDWHPHQWVIRUWKHULVNSRRODQG PRUHLQIRUPDWLRQ PD\EHREWDLQHGIURP&-350$'RRODQ5RDG6XLWH/LYHUPRUH&DOLIRUQLD 

*HQHUDO/LDELOLW\&RYHUDJH

7KH&LW\KDVD6,5RISHUFODLPXSWRDOLPLW7KH&LW\¶VSUHPLXP ZDV



'LVFRXQW5DWH &XUUHQW'LVFRXQW5DWH 'LVFRXQW5DWH







1HW23(%/LDELOLW\ 
 
 
'HFUHDVLQJ &XUUHQW+HDOWKFDUH7UHQG ,QFUHDVLQJ

GHFUHDVLQJ 5DWH
GHFUHDVLQJ
GHFUHDVLQJ
WR
WR
WR

1HW23(%/LDELOLW\  
 
96 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 5,6.0$1$*(0(17
&217,18('


3URSHUW\&RYHUDJH

&-350$KDVSXUFKDVHGFRPPHUFLDOLQVXUDQFHDJDLQVWSURSHUW\GDPDJHERLOHUDQGPDFKLQHU\FODLPV7KH&LW\KDV D6,5RISHUFODLPXSWRDOLPLW7KH&LW\¶VSUHPLXPIRUFRYHUDJHLV 



5RVHYLOOH(QHUJ\3DUN3URSHUW\&RYHUDJH

7KH&LW\SXUFKDVHGFRPPHUFLDOSURSHUW\LQVXUDQFHVSHFLILFDOO\WRFRYHUWKH5RVHYLOOH(QHUJ\3DUN7KH&LW\KDVD 6,5RISHUFODLPXSWRDOLPLW7KH&LW\¶VSUHPLXPIRUFRYHUDJHLV 
)LGXFLDU\&RYHUDJH

7KH&LW\SXUFKDVHGILGXFLDU\LQVXUDQFHVSHFLILFDOO\WRFRYHUWKH23(%7UXVW7KH6,5LVSHUFODLPXSWRD OLPLW7KH&LW\¶VSUHPLXPIRUFRYHUDJHLV 

:RUNHUV¶&RPSHQVDWLRQ

7KH&LW\LVDOVRDPHPEHURIWKH/RFDO$JHQF\:RUNHUV¶&RPSHQVDWLRQ([FHVV-RLQW3RZHUV$XWKRULW\ /$:&;

ZKLFKFRYHUVZRUNHUV¶FRPSHQVDWLRQFODLPVXSWRDQGKDVH[FHVVFRYHUDJHWKURXJK&6$&(,$XSWR WKHVWDWXWRU\OLPLW7KH&LW\KDVD6,5RISHUFODLP7KHWRWDOSUHPLXPFKDUJHGWRWKH&LW\ZDV 

)LQDQFLDOVWDWHPHQWVIRUWKHULVNSRRODQGPRUHLQIRUPDWLRQPD\EHREWDLQHGIURP/$:&;&UHHNVLGH2DNV 'ULYH6XLWH6DFUDPHQWR&DOLIRUQLD


% ,QVXUDQFH,QWHUQDO6HUYLFH)XQGV

7KH*RYHUQPHQWDO$FFRXQWLQJ6WDQGDUGV%RDUG
*$6%
UHTXLUHVPXQLFLSDOLWLHVWRUHFRUGWKHLUOLDELOLW\IRU XQLQVXUHG FODLPVDQGWRUHIOHFWWKHFXUUHQWSRUWLRQRIWKLVOLDELOLW\DVDQH[SHQVHLQWKHLUILQDQFLDOVWDWHPHQWV$V GLVFXVVHG DERYHWKH&LW\KDVFRYHUDJHIRUVXFKFODLPVEXWLWKDVUHWDLQHGWKHULVNIRUWKHGHGXFWLEOHRU XQLQVXUHGSRUWLRQRI WKHVHFODLPV

7KHFKDQJHLQWKH:RUNHUV¶&RPSHQVDWLRQ,QWHUQDO6HUYLFH)XQG¶VFODLPVOLDELOLW\LQFOXGLQJFODLPVLQFXUUHGEXW QRW UHSRUWHGLVEDVHGRQDQLQGHSHQGHQWDFWXDULDOVWXG\SUHSDUHGDQQXDOO\DQGZDVFRPSXWHGDVIROORZVIRUWKH \HDUV HQGHG-XQH


 
&ODLPVOLDELOLW\EHJLQQLQJRI\HDU 
 
&XUUHQW\HDUFODLPV   &KDQJHLQSULRU\HDUFODLPV 
 
&ODLPVSDLGFXUUHQW\HDUFODLPV





&ODLPVSDLGSULRU\HDUFODLPV






&ODLPVOLDELOLW\HQGRI\HDU   
&XUUHQWFODLPVOLDELOLWLHV 
 

97 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 5,6.0$1$*(0(17
&217,18('


7KH&LW\¶VOLDELOLW\IRUXQLQVXUHGJHQHUDOOLDELOLW\FODLPVLQFOXGLQJFODLPVLQFXUUHGEXWQRWUHSRUWHGLVUHSRUWHGLQ WKH *HQHUDO/LDELOLW\,QWHUQDO6HUYLFH)XQG7KHOLDELOLW\LVEDVHGRQDQLQGHSHQGHQWDFWXDULDOVWXG\SUHSDUHG DQQXDOO\ DQGZDVFRPSXWHGDVIROORZVIRUWKH\HDUVHQGHG-XQH 



127(
 1257+(51&$/,)251,$32:(5$*(1&<
1&3$


$ *HQHUDO

7KH &LW\ SDUWLFLSDWHV LQ MRLQW YHQWXUHV WKURXJK -RLQW 3RZHUV $XWKRULWLHV -3$V
 HVWDEOLVKHG XQGHU WKH
-RLQW ([HUFLVHRI3RZHUV$FWRIWKH6WDWHRI&DOLIRUQLD$VVHSDUDWHOHJDOHQWLWLHVWKHVH-3$VH[HUFLVHIXOOSRZHUV DQGDXWKRULWLHVZLWKLQWKHVFRSHRIWKHUHODWHG-RLQW3RZHUV$JUHHPHQWLQFOXGLQJWKHSUHSDUDWLRQRIDQQXDOEXGJHWV DFFRXQWDELOLW\IRUDOOIXQGVWKHSRZHUWRPDNHDQGH[HFXWHFRQWUDFWVDQGWKHULJKWWRVXHDQGEHVXHG 2EOLJDWLRQV DQGOLDELOLWLHVRIWKH-3$VDUHQRWWKRVHRIWKH&LW\ 
(DFK-3$LVJRYHUQHGE\DERDUGFRQVLVWLQJRIUHSUHVHQWDWLYHVIURPHDFKPHPEHUDJHQF\(DFKERDUGFRQWUROV WKH RSHUDWLRQVRILWVUHVSHFWLYH-3$LQFOXGLQJVHOHFWLRQRIPDQDJHPHQWDQGDSSURYDORIRSHUDWLQJEXGJHWVLQGHSHQGHQW RIDQ\LQIOXHQFHE\PHPEHUDJHQFLHVEH\RQGWKHLUUHSUHVHQWDWLRQRQWKH%RDUG 
7KH&LW\LVDPHPEHURI1&3$DMRLQWSRZHUVDJHQF\ZKLFKRSHUD WHVXQGHUDMRLQWSRZHUVDJUHHPHQWDPRQJ  ILIWHHQSXEOLFDJHQFLHV7KHSXUSRVHRI1&3$LVWRXVHWKHFRPELQHGVWUHQJWKRILWVPHPEHUVWRSXUFKDVHJHQHUDWH VHOODQGLQWHUFKDQJHHOHFWULFHQHUJ\DQGFDSDFLW\WKURXJKWKHD FTXLVLWLRQDQGXVHRIHOHFWULFDO JHQHUDWLRQDQG WUDQVPLVVLRQIDFLOLWLHVDQGWRRSWLPL]HWKHXVHRIWKRVHIDFLOLWLHVDQGWKHPHPEHU¶VSRVLWLRQLQ WKHLQGXVWU\(DFK DJHQF\PHPEHUKDVDJUHHGWRIXQGDSURUDWDVKDUHRIFHUWDLQDVVHVVPHQWVE\1&3$DQG FHUWDLQPHPEHUVKDYH HQWHUHGLQWRWDNHRUSD\SRZHUVXSSO\FRQWUDFWVZLWK1&3$:KLOH1&3$LVJRYHUQHGE\ LWVPHPEHUVQRQHRILWV REOLJDWLRQVDUHWKRVHRILWVPHPEHUVXQOHVVH[SUHVVO\DVVXPHGE\WKHP 
7KH&LW\UHFHLYHVQRLQFRPHIURP1&3$DQGGRHVQRWSDUWLFLSDWHLQDOORILWVSURMHFWV)XUWKHU1&3$GRHVQRW PHDVXUH RU GHWHUPLQH WKH &LW\¶V HTXLW\ LQ 1&3$ DV D ZKROH 1&3$ UHSRUWV RQO\ WKH &LW\¶V VKDUH RI LWV *HQHUDO 2SHUDWLQJ5HVHUYHFRPSULVHGRIFDVKDQGLQYHVWPHQWVDQGWKH&LW\¶VVKDUHRIWKRVH3URMHFWVLQZKLFKWKH &LW\LV DSDUWLFLSDQW7KHVHDPRXQWVDUHUHIOHFWHGLQWKHILQDQFLDOVWDWHPHQWVDV,QYHVWPHQWLQ1&3$5HVHUYH 
'XULQJWKH\HDUHQGHG-XQHWKH&LW\JHQHUDWHGUHYHQXHWRWDOLQJ IURPUHVRXUFHFRQWUDFWVDQG
WKHVDOHRIHQHUJ\JHQHUDWHGE\1&3$
 
&ODLPVOLDELOLW\EHJLQQLQJRI\HDU   

&XUUHQW\HDUFODLPV   &KDQJHLQSULRU\HDUFODLPV
 


&ODLPVSDLGFXUUHQW\HDUFODLPV






&ODLPVSDLGSULRU\HDUFODLPV





&ODLPVOLDELOLW\HQGRI\HDU   &XUUHQWFODLPVOLDELOLWLHV   98 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 1257+(51&$/,)251,$32:(5$*(1&<
1&3$

&217,18('


7KH&LW\¶VLQWHUHVWLQFHUWDLQ1&3$3URMHFWVDQG5HVHUYHDVFR PSXWHGE\1&3$XVLQJXQDXGLWHGLQIRUPDWLRQLV VHWIRUWKEHORZ




7KH*HQHUDO2SHUDWLQJ5HVHUYH
*25
LVDQDGGLWLRQDORSHUDWLQJUHVHUYHIRUQRQEXGJHWHGLWHPVWKDWDUHFRQWLQJHQW RUQRQVSHFLILF'HSRVLWVWRWKH*25LQFOXGHLWHPVVXFKDVWKH &LW\¶VSRUWLRQRIIXQGVZKLFKUHVXOWHG IURPWKH VHWWOHPHQWZLWKWKLUGSDUWLHVRILVVXHVZLWKILQDQFLDOFRQVHTXHQFHVDQGUHFRQFLOLDWLRQVRISULRU\HDUV¶ EXGJHWVIRU SURJUDPV,WLVUHFRJQL]HGWKDWDOOWKHIXQGVFUHGLWHGWRWKH&LW\DUHOLQNHGWRWKHFROOHFWLRQRIUHYHQXHIURPWKH&LW\¶V UDWHSD\HUVRUWRWKHVHWWOHPHQWRIGLVSXWHVUHODWLQJWRHOHFWULFSRZHUVXSSO\DQGWKDW WKHPRQH\ZDVFROOHFWHGIURP WKH&LW\¶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¶VILQDQFLDOFRQGLWLRQDQGPDLQWDLQLWVFUHGLWZRUWKLQHVV 7KHVHIXQGVDUHDYDLODEOHRQ GHPDQGEXWWKH&LW\PDLQWDLQVIXQGVZLWK1&3$DVDUHVHUYHDJDLQVWWKHVH FRQWLQJHQFLHVLGHQWLILHGE\1&3$

0HPEHUVRI1&3$PD\SDUWLFLSDWHLQDQLQGLYLGXDOSURMHFWRI1&3$ZLWKRXWREOLJDWLRQIRUDQ\RWKHUSURMHFW 0HPEHU DVVHVVPHQWVFROOHFWHGIRURQHSURMHFWPD\QRWEHXVHGWRILQDQFHRWKHUSURMHFWVRI1&3$ZLWKRXWWKH PHPEHU¶V SHUPLVVLRQ

% 3URMHFWV

Geothermal Projects
1&3$¶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

%DVHGRQDQLQWHUQDODVVHVVPHQWRIWKHPHOGHGFRVWVRISRZHUIURPWKH*HRWKHUPDO3URMHFWDQGDOORWKHUUHVRXUFHV DYDLODEOHWRWKHPHPEHUV1&3$EHOLHYHVLWVPHPEHUVZLOOFRQWLQXHWREHDEOHWRRSHUDWHWKHLUHOHFWULF XWLOLWLHVRQD FRPSHWLWLYHEDVLVZKHQFRPSDUHGWRORFDOLQYHVWRURZQHGXWLOLW\UDWHVZKLOHPHHWLQJDOOHOHFWULF V\VWHPREOLJDWLRQV LQFOXGLQJWKRVHWR1&3$,Q0DUFK
1&3$LVVXHG*HRWKHUPDO3URMHFW 1XPEHU5HYHQXH%RQGV


6HULHV$
7KHSURFHHGVZHUHXVHGWRILQDQFHDQGRSHUDWHWKHWZR1&3$0:JHRWKHUPDOVWHDPSRZHUHG JHQHUDWLQJ SODQWV 3ODQW 1XPEHU  DQG 3ODQW 1XPEHU  ,Q 1&3$ LVVXHG   LQ ERQGV IRU
3ODQW1XPEHUWXUELQHXSJUDGHV7KH&LW\LVREOLJDWHGWRSD\LWVFRQWUDFWXDOVKDUHRISHUFHQWRIWKHRSHUDWLQJ FRVWVDQGGHEWVHUYLFHXQWLOLWLVIXOO\VDWLVILHGUHJDUGOHVVRIUHVXOWLQJFRVWRU DYDLODELOLW\RIHQHUJ\$W-XQH -XQH
*HQHUDORSHUDWLQJUHVHUYH
LQFOXGLQJDGYDQFHV
 
$VVRFLDWHGPHPEHUVHUYLFHV
LQFOXGLQJDGYDQFHV

 
8QGLYLGHGHTXLW\LQWHUHVWDWFRVWLQFHUWDLQ1&3$SRZHUSURMHFWV

*HRWKHUPDOSURMHFWV 


&DOYHUDVK\GURHOHFWULFSURMHFW 


&RPEXVWLRQWXUELQHSURMHFWQR  

99 &,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 1257+(51&$/,)251,$32:(5$*(1&<
1&3$

&217,18('


WKHERRNYDOXHRIWKLV3URMHFW¶VSODQWHTXLSPHQWDQGRWKHUDVVHWVZDVZKLOHLWVORQJWHUPGHEWWRWDOHG DQGRWKHUOLDELOLWLHVWRWDOHG7KH&LW\¶VVKDUHRIWKH3URMHFW¶VORQJWHUPGHEWDPRXQWHGWR DWWKDWGDWH

2Q2FWREHU1&3$DSSURYHGDUHVROXWLRQWRILQDQFHWKH H[SDQVLRQDQGUHPRGHOLQJRIWKH1&3$PDLQ RIILFHEXLOGLQJORFDWHGLQ5RVHYLOOH7KHH[SDQVLRQLVLQFOXGHG DVSDUWRIWKH*HRWKHUPDO3URMHFWVIXQGHGE\WKH ERQGVPHQWLRQHGDERYH7KH&LW\ZLOOUHFRYHULWVSHUFHQW VKDUHRIWKHFRVWRIWKHH[SDQVLRQZKLFKZDV 
ZLWKDSHUFHQWUHWXUQRQWKHLQYHVWPHQWRYHUDWHQ \HDUSHULRG7KH&LW\KDVIXOO\UHFRYHUHGLWVFRVWV DVVRFLDWHGZLWKWKLVSURMHFW

Calaveras Hydroelectric Project
,Q-XO\
1&3$DJUHHGZLWK&DODYHUDV&RXQW\:DWHU'LVWULFWWRSXUFKDVHWKHRXWSXWRIWKH1RUWK)RUN6WDQLVODXV 5LYHU+\GURHOHFWULF'HYHORSPHQW3URMHFWDQGWRILQDQFHLWVFRQVWUXFWLRQ'HEWVHUYLFHSD\PHQWVWR 1&3$EHJDQLQ )HEUXDU\

ZKHQWKHSURMHFWZDVGHFODUHGVXEVWDQWLDOO\FRPSOHWHDQGSRZHUZDVGHOLYHUHGWR WKHSDUWLFLSDQWV 8QGHULWVSRZHUSXUFKDVHDJUHHPHQWZLWK1&3$WKH&LW\LVREOLJDWHGWRSD\RIWKLV 3URMHFW¶VGHEWVHUYLFHDQG RSHUDWLQJFRVWV,Q0DUFK1&3$UHIXQGHGDSRUWLRQRIWKHRXWVWDQGLQJ5HYHQXH %RQGVZLWKWKH  +\GURHOHFWULF3URMHFW1XPEHU 2QH 5HYHQXH %RQGV 7KH &LW\¶V VKDUH RI WKH ERQGV LV  ,Q$SULO
1&3$UHIXQGHGDSRUWLRQRIWKHRXWVWDQGLQJ5HYHQXH%RQGVZLWKWKH 
+\GURHOHFWULF
3URMHFW1XPEHU2QH5HYHQXH%RQGV,Q$SULO1&3$UHIXQGHGDSRUWLRQRIWKHRXWVWDQGLQJ5HYHQXH%RQGV ZLWKWKH+\GURHOHFWULF3URMHFW1XPEHU2QH5HYHQXH%RQGV$W-XQHWKHERRNYDOXHRI WKLV3URMHFW¶VSODQWHTXLSPHQWDQGRWKHUDVVHWVZDVZKLOHLWVORQJWHUPGHEWWRWDOHGDQG RWKHUOLDELOLWLHVWRWDOHG7KH&LW\¶VVKDUHRIWKH3URMHFW¶VORQJWHUPGHEWDPRXQWHGWRDW WKDWGDWH

Combustion Turbine Project No. 2 (Steam Injected Gas Turbine Project) 7KH&LW\LVDSDUWLFLSDQWLQD
PHJDZDWW6WHDP,QMHFWHG*DV 7XUELQHSURMHFWZKLFKZDVEXLOWXQGHUWXUQNH\ FRQWUDFWQHDUWKH&LW\RI/RGLDQGGHFODUHGVXEVWDQWLDOO\FRPSOHWHRQ$SULO

,Q2FWREHU

1&3$ LVVXHG
RI0XOWLSOH&DSLWDO)DFLOLWLHV5HYHQXH%RQGVWRILQDQFHWKLVSURMHFW,Q-DQXDU\1&3$UHILQDQFHG WKHRXWVWDQGLQJ&DSLWDO)DFLOLWLHV5HYHQXH%RQGVE\WKHLVVXDQFHRIWKH&DSLWDO)DFLOLWLHV 5HYHQXH %RQGV6HULHV$
5HIXQGLQJ6HULHV$
8QGHUWKH1&3$SRZHUSXUFKDVHDJUHHPHQWWKH&LW\LV REOLJDWHGWR SD\SHUFHQWRIWKHGHEWVHUYLFHDQGRSHUDWLQJFRVWVIRUWKH/RGLXQLW 
7KH&LW\¶VSDUWLFLSDWLRQLQSURFXUHPHQWRIQDWXUDOJDVIRUIXHO IRUH[LVWLQJDQGQHZFRPEXVWLRQWXUELQHXQLWVZDV DSSURYHGLQ

$OWKRXJKWKHUHLVFXUUHQWO\QRDGGLWLRQDOGHEWILQDQFLQJWKH&LW\DQG1&3$KDYHFRPPLWWHGWR ORQJWHUPSD\PHQWVIRUJDVWUDQVPLVVLRQSLSHOLQHFDSDFLW\DQGHQWHUHGDSXUFKDVHFRQWUDFWIRUQDWXUDOJDV 7KH &LW\LVREOLJDWHGWRSD\
SHUFHQWRIWKHQDWXUDOJDVSXUFKDVHFRQWUDFW

$W-XQHWKHERRNYDOXHRIWKLV3URMHFW¶VSODQWHTXLSP HQWDQGRWKHUDVVHWVZDV

ZKLOHLWV
ORQJWHUPGHEWWRWDOHG


DQGRWKHUOLDELOLWLHVWRWDOHG 7KH&LW\¶VVKDUHRIWKH3URMHFW¶V ORQJWHUPGHEWDPRXQWHGWRDWWKDWGDWH

& 1&3$)LQDQFLDO,QIRUPDWLRQ

1&3$¶VILQDQFLDOVWDWHPHQWVFDQEHREWDLQHGIURP1&3$&RPPHUFH'ULYH5RVHYLOOH&DOLIRUQLD 
100
&,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 6287+3/$&(5:$67(:$7(5$87+25,7<

7KH&LW\LVDPHPEHURIWKH6RXWK3ODFHU:DVWHZDWHU$XWKRULW\ 63:$
DMRLQWSRZHUVDJHQF\ZKLFKRSHUDWHV
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
8QGHUWKHWHUPVRIWKH5HDOORFDWLRQDQG5HSD\PHQW$JUHHPHQWHIIHFWLYH2FWREHUWKHWKUHHDJHQFLHV DUH UHVSRQVLEOHIRUWKHUHSD\PHQWRIDOOWKHUHYHQXHERQGV7KH&LW\¶VVKDUHRIWKLVREOLJDWLRQZDVSHUFHQW EXW ZLWKWKHVHFRQGDPHQGPHQWWRWKHIXQGLQJDJUHHPHQWGLVFXVVHGEHORZWKH&LW\¶VREOLJDWLRQLVQRZ SHUFHQW 
'XULQJWKH\HDUHQGHG-XQHWKH&LW\SDLGWR63:$EDVHGRQFRQQHFWLRQIHHVFROOHFWHGGXULQJ WKHILVFDO\HDU

7KH&LW\UHFRUGVQHWLQYHVWPHQWLQ63:$LQWKH:DVWHZDWHU(QWHUSULVH)XQGDQGWKHVH FKDQJHVDUHUHIOHFWHGLQ WKH6WDWHPHQWRI5HYHQXHV([SHQVHVDQG&KDQJHVLQ)XQG1HW3RVLWLRQ7KHQHWLQYHVWPHQWLQ63:$FDSWXUHV WKH&LW\¶VSRUWLRQRIFDVKLQYHVWPHQWVORQJWHUPGHEWDQGRWKHUUHODWHGLWHPV7KH&LW\¶VQHW LQYHVWPHQWLQ63:$ 5HVHUYHVDW-XQHZDVDOLDELOLW\RI
ZKLFKLQFOXGHVWKH&LW\¶VUDWHVWDELOL]DWLRQIXQGEDODQFHRI 


63:$¶VILQDQFLDOVWDWHPHQWVFDQEHREWDLQHGIURPWKH&LW\RI5RVHYLOOH9HUQRQ6WUHHW5RVHYLOOH&DOLIRUQLD



127(

 081,&,3$/62/,':$67(/$1'),//&/2685($1'3267&/2685(&$5(&2676 
6WDWHDQGIHGHUDOODZVDQGUHJXODWLRQVUHTXLUHWKDWWKH&LW\SHUIRUPFHUWDLQPDLQWHQDQFHDQGPRQLWRULQJ IXQFWLRQV DWWKH5RVHYLOOHVDQLWDU\ODQGILOOVLWHZKLFKLVFORVHGWKURXJKWKH\HDU$FFRUGLQJO\WKH&LW\KDV UHFRUGHGD OLDELOLW\DQGH[SHQVHLQWKH6ROLG:DVWH(QWHUSULVH)XQGIRUWK HHVWLPDWHGSRVWFORVXUHFDUHFRVW7KH UHFRUGHG DPRXQWLVEDVHGRQDSSOLFDEOHVWDWHDQGORFDOODZVDQGUHJXODWLRQVFRQFHUQLQJFORVXUHDQGSRVWFORVXUH FDUH,I DGGLWLRQDOSRVWFORVXUHFDUHUHTXLUHPHQWVDUHGHWHUPLQHG GXHW RFKDQJHVLQWHFKQRORJ\RUDSSOLFDEOH ODZVRU
UHJXODWLRQVIRUH[DPSOH
WKHVHFRVWVPD\UHVXOWLQLQFUHDVHGFKDUJHVWRIXWXUHODQGILOOXVHUVRUWKHXVDJHRIIXWXUH WD[UHYHQXHV'XULQJILVFDO\HDUWKHFKDQJHVRIODQGILOOFORVXUHOLDELOLWLHVZHUHDVIROORZV 



127(
 &200,70(176$1'&217,1*(17/,$%,/,7,(6

$ 1&3$7UDQVPLVVLRQ$JHQF\RI1RUWKHUQ&DOLIRUQLDDQG:HVWHUQ$UHD3RZHU$GPLQLVWUDWLRQ 
8QGHUWKHWHUPVRILWV1&3$MRLQWYHQWXUHDJUHHPHQWWKH&LW\LVFRQWLQJHQWO\OLDEOHIRUDSRUWLRQRIWKHERQGHG LQGHEWHGQHVVLVVXHGE\WKHVHDJHQFLHVXQGHUWDNHRUSD\RUVLPLODUDJUHHPHQWVDVGLVFXVVHGLQ1RWH7KH &LW\¶V HVWLPDWHGVKDUHRIVXFKGHEWRXWVWDQGLQJDW-XQHZDV 8QGHUFHUWDLQFLUFXPVWDQFHVWKH&LW\
PD\DOVREHUHVSRQVLEOHIRUDSRUWLRQRIWKHFRVWVRIRSHUDWLQJWKHVHHQWLWLHV8QGHU FHUWDLQFLUFXPVWDQFHVVXFKDV GHIDXOWRUEDQNUXSWF\RIRWKHUSDUWLFLSDQWVWKH&LW\PD\DOVR EHOLDEOHWRSD\D SRUWLRQRIWKHGHEWRIWKHVHMRLQW YHQWXUHVRQEHKDOIRIWKHRWKHUSDUWLFLSDQWV
%HJLQQLQJ%DODQFH 
'HGXFWLRQV


(QGLQJ%DODQFH 
101
&,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 &200,70(176$1'&217,1*(17/,$%,/,7,(6
&217,18('


7KH&LW\LVDPHPEHURIWKH7UDQVPLVVLRQ$JHQF\RI1RUWKHUQ&DOLIRUQLD 7$1&
DMRLQWSRZHUVDJHQF\7KH&LW\
LVHQWLWOHGWR
SHUFHQWRI7$1&¶VVKDUHRIWUDQVIHUFDSDE LOLW\LQWKH&DOLIRUQLD2UHJRQ7UDQVPLVVLRQ3URMHFW

DSSUR[LPDWHO\
0:
7KH&LW\LVUHVSRQVLEOHIRUDVKDUHRIGHEWVHUYLFHRQGHEWLVVXHGE\7$1&XQGHUD  WDNHRUSD\ DJUHHPHQW DSSUR[LPDWHO\  DQQXDOO\ WKURXJK  7KH &LW\¶V HVWLPDWHG VKDUH RI GHEW
RXWVWDQGLQJDW-XQHZDV

,QDGGLWLRQWKH&LW\KDVDORQJWHUPREOLJDWLRQWRWKH8QLWHG 6WDWHV'HSDUWPHQWRI(QHUJ\:HVWHUQ$UHD3RZHU $GPLQLVWUDWLRQIRUSHUFHQWRIWKHRXWSXWRIWKH&HQWUDO9DOOH\3URMHFW&DOLIRUQLD7KLVFRQWUDFWDOVR NQRZQ DV WKH :HVWHUQ %DVH 5HVRXUFH REOLJDWHV WKH &LW\ WR PDNH SD\PHQWV RQ D WDNHRUSD\ EDVLV WKURXJK  'HFHPEHU7KH&LW\H[SHFWVWRSD\DSSUR[LPDWHO\PLOOLRQDQQXDOO\IRUWKHWHUPRIWKLVFRQWUDFW7KH &LW\ UHFHLYHVDSSUR[LPDWHO\0:KRIHQHUJ\SHU\HDUXQGHUDYHUDJHK\GURDQGVWRUDJHFRQGLWLRQV 
% )HGHUDODQG6WDWH*UDQW3URJUDPV

7KH&LW\SDUWLFLSDWHVLQ)HGHUDODQG6WDWHJUDQWSURJUDPV7KHV HSURJUDPVKDYHEHHQDXGLWHGE\WKH&LW\¶V LQGHSHQGHQWDFFRXQWDQWVLQDFFRUGDQFHZLWKWKHSURYLVLRQVRIWK HIHGHUDO6LQJOH$XGLW$FWDVDPHQGHGDQG DSSOLFDEOH6WDWHUHTXLUHPHQWV1RFRVWGLVDOORZDQFHVZHUHSURSRVHGDVDUHVXOWRIWKHVHDXGLWV KRZHYHUWKHVH
SURJUDPVDUHVWLOOVXEMHFWWRIXUWKHUH[DPLQDWLRQE\WKHJUDQWRUVDQGWKHDPRXQWLIDQ\RIH[SHQGLWXUHVZKLFK PD\ EHGLVDOORZHGE\WKHJUDQWLQJDJHQFLHVFDQQRWEHGHWHUPLQHGDWWKLVWLPH7KH&LW\H[SHFWVVXFKDPRXQWV LIDQ\ WREHLPPDWHULDO

& /LWLJDWLRQ

7KH&LW\LVVXEMHFWWROLWLJDWLRQDULVLQJLQWKHQRUPDOFRXUVHRIEXVLQHVV,QWKHRSLQLRQRIWKH&LW\$WWRUQH\WKHUH LV QRSHQGLQJOLWLJDWLRQRWKHUWKDQGLVFORVHGDERYHZKLFKLVOLNHO\WRKDYHDPDWHULDODGYHUVHHIIHFWRQWKH ILQDQFLDO SRVLWLRQRIWKH&LW\

' (QFXPEUDQFHV

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




0DMRU*RYHUQPHQWDO)XQGV

*HQHUDO)XQG 


1RQ0DMRU*RYHUQPHQWDO)XQGV 


7RWDO(QFXPEUDQFHV 
102
&,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 &200,70(176$1'&217,1*(17/,$%,/,7,(6
&217,18('


( 2WKHU&RPPLWPHQWV

7KH&LW\KDGWKHIROORZLQJRXWVWDQGLQJVLJQLILFDQWFRPPLWPHQWVDW-XQH 



127(
 *$66833/<$&48,6,7,216$1'5(6$/(

7KH&LW\RSHUDWHVFHUWDLQHOHFWULFDOJHQHUDWLQJSODQWVZKLFKSURYLGHSRZHUIRUVDOHWRWKHSXEOLFDQGQHHGV UHOLDEOH HFRQRPLFVXSSOLHVRIQDWXUDOJDVWRJHQHUDWHWKHQHHGHGHOHFWUL FLW\,QSXUVXLWRIWKDWREMHFWLYHWKH&LW\ DQGLWV FRPSRQHQWXQLWWKHIRUPHU&LW\RI5RVHYLOOH5HGHYHORSPHQW$JHQF\IRUPHGWKH5RVHYLOOH1DWXUDO*DV )LQDQFLQJ $XWKRULW\
$XWKRULW\
IRUWKHSXUSRVHRIDFTXLULQJILQDQFLQJDQGVXSSO\LQJQDWXUDOJDVWRWKH&LW\ 
6XPPDUL]HGEHORZDUHYDULRXVDJUHHPHQWVHQWHUHGLQWRE\WKH$XWKRULW\WRDFKLHYHLWVSXUSRVH 
$ 3UHSDLG*DV$JUHHPHQW

3XUVXDQWWRDQ$JUHHPHQWIRUWKH3XUFKDVHDQG6DOHRI1DWXUDO*DVGDWHG-DQXDU\WKH$XWKRULW\XVHGD SRUWLRQRIWKHSURFHHGVRILWV
RI*DV5HYHQXH%RQGV6HULHV
WKH%RQGV
WRSUHSD\0HUULOO/\QFK
&RPPRGLWLHV,QF
*DV6XSSOLHU
IRUDWZHQW\\HDUVXSSO\RIQD WXUDOJDV&RPPHQFLQJ-DQXDU\ DQG FRQWLQXLQJWKURXJK'HFHPEHUWKH*DV6XSSOLHULVREOLJDWHGWRGHOLYHUGDLO\FRQWUDFWTXDQWLWLHVRI QDWXUDO JDVRQDILUPEDVLVWRWKHGHVLJQDWHGGHOLYHU\SRLQW'DLO\FRQWUDFWTXDQWLWLHVYDU\IURPPRQWKWRPRQWKEXWQRWIURP \HDUWR\HDU7KLVFRPPLWPHQWWRWDOV00%WXV
PLOOLRQVRI%ULWLVKWKHUPDOXQLWV
SHU\HDU RU
00%WXVIRUWKHWZHQW\\HDUFRQWUDFWSHULRG7KH$XWKRULW\KDVUHFRUGHGD3UHSDLG1DWXUDO*DVDVVHWZKLFKLVWREH DPRUWL]HGDVGDLO\FRQWUDFWTXDQWLWLHVDUHGHOLYHUHG

7KHDJUHHPHQWSURYLGHVIRUSD\PHQWVWREHPDGHE\WKH*DV6XSSOLHULILWIDLOVWRGHOLYHUWKHGDLO\FRQWUDFW TXDQWLWLHV DQGPD\EHWHUPLQDWHGE\WKH$XWKRULW\LQWKHHYHQWRIQRQSHUI RUPDQFHE\WKH6XSSOLHU7KH $JUHHPHQWZLOO DXWRPDWLFDOO\WHUPLQDWHLIWKHUHLVDWHUPLQDWLRQRIWKH&RPPRGLW\6ZDS 6HH1RWH'
ZKLFK LVQRWGXHWRGHIDXOW
E\WKH$XWKRULW\RULIWKHUHLVDQHYHQWRIGHIDXOWXQGHUWKHVZDSDJUHHPHQWHQWHUHGLQWR E\WKH*DV6XSSOLHUDQGD WKLUGSDUW\8SRQHDUO\WHUPLQDWLRQZKHWKHUGXHWRWKHDERYHRUGXHWRDQ\RWKHU RSWLRQDOWHUPLQDWLRQHYHQWDV GHILQHGLQWKHDJUHHPHQWWKH*DV6XSSOLHULVUHTXLUHGWRPDNH DWHUPLQDWLRQ SD\PHQWWRWKH$XWKRULW\WKDWLV H[SHFWHGWREHVXIILFLHQWWRJHWKHUZLWKRWKHUDYDLODEOHIXQGVWRUHGHHPWKH%RQGV7KH*DV6XSSOLHU¶VFRPPLWPHQWV XQGHUWKLVDJUHHPHQWDUHJXDUDQWHHGE\LWVSDUHQWFRPSDQ\0HUULOO /\QFK &R,QFXQGHUDJXDUDQWHHDJUHHPHQW ZLWKWKH$XWKRULW\

$VRI-XQHWKHERRNYDOXHRISUHSDLGJDVXQGHUWKLVDJUHHPHQWDPRXQWHGWR 
3URMHFWV ,Q0LOOLRQV
5RVHYLOOH(QHUJ\3DUN/RQJ7HUP6HUYLFH$JUHHPHQW 

1HW3RZHU3XUFKDVH&RQWUDFWV 
1DWXUDO*DV)RUZDUG2EOLJDWLRQV 

5HQHZDEOH3RZHU3XUFKDVH2EOLJDWLRQV 
$GYDQFHG0HWHULQJ,QIUDVWUXFWXUH 
5RVHYLOOH6RFFHU&RPSOH[ 
8WLOLW\2SHUDWLRQV&HQWHU3KDVH 
)LUH6WDWLRQ  
'&::730RWRU&RQWURO&HQWHUDQG6ZLWFKJHDU5HSODFHPHQW

&RVWFR(FRQRPLF,QFHQWLYH$JUHHPHQW 
:HVWEURRN%OYG6HJPHQW  
'U\&UHHN2SHUDWLRQVDQG/DE%XLOGLQJ 
103
&,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 *$66833/<$&48,6,7,216$1'5(6$/(

% )XQGLQJ$JUHHPHQW

8QGHUFHUWDLQFRQGLWLRQVVSHFLILHGLQD)XQGLQJDQG$VVLJQPHQW$JUHHPHQWGDWHG-DQXDU\EHWZHHQWKH $XWKRULW\DQG*DV6XSSOLHUWKH*DV6XSSOLHUKDVDJUHHGWRDGYDQFHIXQGVWRWKH7UXVWHHWRSD\GHEWVHUYLFHZKHQ GXHRUWRUHGHHPERQGVLQWKHHYHQWRIHDUO\WHUPLQDWLRQ$GYDQFHVDUHUHTXLUHGXQGHUFRYHUHGVZDS GHILFLHQFLHV DQGFRYHUHGWHUPLQDWLRQGHILFLHQFLHVDQGRSWLRQDODGYDQFHVPD\DOVREHPDGH$GYDQFHVDUH UHSD\DEOHIURPE\ WKHUHVSRQVLEOHSDUW\FDXVLQJWKHGHILFLHQF\UHTXLULQJDQDGYDQ FHXQGHUWKLVDJUHHPHQW7KLV DJUHHPHQWLV FRWHUPLQRXVZLWKWKH%RQGV7KH*DV6XSSOLHU¶VFRPPLWPHQWXQGHU WKLVDJUHHPHQWLVJXDUDQWHHG E\LWVSDUHQW FRPSDQ\0HUULOO/\QFK &R,QFXQGHUDJXDUDQWHHDJUHHPHQWZLWKWKH$XWKRULW\ 
7KHUHZHUHQRDGYDQFHVRXWVWDQGLQJDVRI-XQH 
& 6XSSO\$JUHHPHQW

3XUVXDQWWRD1DWXUDO*DV6XSSO\$JUHHPHQWGDWHG)HEUXDU\WKH$XWKRULW\KDVDJUHHGWRVHOOWRWKH&LW\ D WZHQW\\HDUVXSSO\RIQDWXUDOJDV7KLV6XSSO\$JUHHPHQWLVFRWHUPLQRXVZLWKDQGSURYLGHVIRUWKHGHOLYHU\RIQDWXUDO JDVLQTXDQWLWLHVZKLFKDUHPDWFKHGWRWKH3UHSDLG*DV$JUHHPHQWGLVFXVVHGDERYH)RUHDFK00%WX GHOLYHUHG

VROG
WRWKH&LW\WKH$XWKRULW\ZLOOUHFHLYHDYDULDEOHUHYHQ XHVWUHDPEDVHGRQDILUVWRIWKHPRQWK LQGH[IRUWKH GHOLYHU\ORFDWLRQ7KH$JUHHPHQWWHUPLQDWHVXSRQWHUPLQDWLRQRI WKH3UHSDLG*DV$JUHHPHQWRU XSRQWKH&LW\¶V IDLOXUHWRPDNHDQ\UHTXLUHGSD\PHQWZLWKLQWZREXVLQHVVGD\VRIWKHGXHGDWH 
' &RPPRGLW\6ZDS$JUHHPHQW

,QRUGHUWRKDYHLWVJDVSULFHH[SRVXUHFRQVLVWHQWZLWKSUHYDLOLQJPDUNHWUDWHVWKH$XWKRULW\HQWHUHGLQWRD QDWXUDO JDV&RPPRGLW\6ZDS$JUHHPHQWZLWK-30RUJDQ&KDVH%DQN
&RXQWHUSDUW\
)RUWKHWHUPRIGHOLYHULHV XQGHUWKH
3UHSDLG*DV$JUHHPHQWDQGWKH6XSSO\$JUHHPHQWWKH$XWKRULW\Z LOOSD\DQLQGH[SULFHSHU00%WX WRWKH &RXQWHUSDUW\DQGWKH&RXQWHUSDUW\ZLOOSD\DIL[HGSULFHWRWKH$XWKRULW\7KHLQGH[SULFHSDLGE\WKH $XWKRULW\LV H[SHFWHGWRDSSUR[LPDWHWKHSULFHSDLGE\WKH&LW\XQGHUWKH6XSSO\$JUHHPHQW 
7KHPRQWKO\TXDQWLW\DQGWHUPRIWKH&RPPRGLW\6ZDS$JUHHPHQWDUHPDWFKHGWRWKRVHRIWKH6XSSO\$JUHHPHQW 
'HWDLORIWKHFRPPRGLW\VZDSDJUHHPHQWLVGLVFXVVHGLQ1RWH 
127(
 5('(9(/230(17$*(1&<',662/87,21$1'68&&(6625$*(1&<$&7,9,7,(6 
$ 5HGHYHORSPHQW'LVVROXWLRQ

,QDQHIIRUWWREDODQFHLWVEXGJHWWKH6WDWHRI&DOLIRUQLDDGRSWHG$%[RQ-XQHDPHQGHGE\ $% RQ-XQHZKLFKVXVSHQGHGDOOQHZUHGHYHORSPHQWDFWLYLWLHVH[FHSWIRUOLPLWHGVSHFLILHG DFWLYLWLHVDVRIWKDW GDWHDQGGLVVROYHGUHGHYHORSPHQWDJHQFLHVRQ-DQXDU\ 
7KHVXVSHQVLRQSURYLVLRQVSURKLELWHGDOOUHGHYHORSPHQWDJHQFLHVIURPDZLGHUDQJHRIDFWLYLWLHVLQFOXGLQJ LQFXUULQJ QHZLQGHEWHGQHVVRUREOLJDWLRQVHQWHULQJLQWRRUPRGLI\LQJDJUHHPHQWVRUFRQWUDFWVDFTXLULQJRU GLVSRVLQJRIUHDO SURSHUW\WDNLQJDFWLRQVWRDGRSWRUDPHQGUHGHYHORSPHQWSODQVDQGRWKHUVLPLODUDFWLRQV H[FHSWDFWLRQVUHTXLUHG E\ODZRUWRFDUU\RXWH[LVWLQJHQIRUFHDEOHREOLJDWLRQVDVGHILQHGLQ$%[ 
(IIHFWLYH -DQXDU\   WKH 5HGHYHORSPHQW $JHQF\ ZDV GLVVROYHG &HUWDLQ KRXVLQJ DVVHWV RI WKH 5HGHYHORSPHQW$JHQF\ZHUHGLVWULEXWHGWRD+RXVLQJ6XFFHVVRU DQGDOOUHPDLQLQJ5HGHYHORSPHQW$JHQF\ DVVHWV
DQGOLDELOLWLHVZHUHGLVWULEXWHGWRD6XFFHVVRU$JHQF\ 
8QGHUWKHSURYLVLRQVRI$%WKH&LW\FDQHOHFWWREHFRPHW KH+RXVLQJ6XFFHVVRUDQGUHWDLQWKHKRXVLQJ  DVVHWV7KH&LW\HOHFWHGWREHFRPHWKH+RXVLQJ6XFFHVVRUDQGRQ )HEUXDU\WKHKRXVLQJDVVHWVZHUH WUDQVIHUUHGWRWKH&LW\¶V/RZDQG0RGHUDWH,QFRPH+RXVLQJ$VVHW 6SHFLDO5HYHQXH)XQG7KHDFWLYLWLHVRIWKH +RXVLQJ6XFFHVVRUDUHUHSRUWHGLQWKH/RZDQG0RGHUDWH,QFRPH+ RXVLQJ$VVHWV6SHFLDO5HYHQXH)XQGDVWKH &LW\KDVFRQWURORIWKRVHDVVHWVZKLFKPD\EHXVHGLQDFFRUGDQ FHZLWKWKHORZDQGPRGHUDWHLQFRPHKRXVLQJ SURYLVLRQVRI&DOLIRUQLD5HGHYHORSPHQW/DZ
104
&,7<2)526(9,//(
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
<HDU(QGHG-XQH

127(
 5('(9(/230(17 $*(1&< ',662/87,21 $1' 68&&(6625 $*(1&< $&7,9,7,(6