Attachments — Neighborhood Services and Education Committee (nse), February 9, 2023

Attachment A
Information Required by the Mitigation Fee Act
A Report on Park Impact Ordinance and Parkland Dedication Ordinance Fees for the Fiscal Year Ending June 30, 2022
The Mitigation Fee Act requires the City to make available to the public, on an annual basis, the following information concerning Park Impact Ordinance (PIO – San Jose Municipal Code Chapter 14.25) park impact in-lieu fees within 180 days after the last day of the fiscal year:
• Type of fee
• Amount of the fee
• Beginning and ending balances of the account or fund
• Amount of fees collected and interest earned
• Identification of each public improvement on which fees were expended, and amount of expenditures on each improvement, including the total percentage of the cost of the public improvement that was funded with fees
• Approximate date by which construction of the public improvement will commence • Description of inter-fund transfers or loans, including the public improvement on which the transferred or loaned fees will be expended, date of loan repayment, and rate of interest that the fund will receive.

The City’s PIO is administered in conjunction with the City’s Parkland Dedication Ordinance (PDO – San Jose Municipal Code Chapter 19.38) and together the two ordinances work in concert to support the City’s park levels of service and mitigate the impact of new residents on existing parkland. The ordinances require that residential developers dedicate land, improve parkland, and/or pay a parkland fee in lieu of land dedication to support providing new or improving existing neighborhood and community serving parklands. The PDO and PIO are most easily distinguished by the type of projects to which they apply.

The PDO applies to the subdivision of land for ownership housing units, while the PIO applies to nonsubdivided residential units, typically rental properties or the construction of new residential units that are not otherwise subject to the Parkland Dedication Ordinance (PDO).

While both the PDO and PIO are often discussed as impact fees, the two programs are actually empowered by two separate state legislations. The PDO is authorized through the Quimby Act while the PIO is secured through the Mitigation Fee Act. While there are many legal nuances between the ordinances, detail on this topic is too extensive for this report. Ultimately, they help ensure that every new resident, as well as existing neighborhoods, has adequate access to quality park and recreation facilities.

In brief, a residential housing project is assessed parkland fees under the PIO or PDO when it chooses not to mitigate its impacts through either the dedication of land or improvements to parkland or in combination of each. The schedule of fees assessed in lieu of land dedication is established through City Council resolution, based on the type of dwelling units, and an evaluation of land values. For large projects, the decision to require dedication, accept improvements, and/or assess fees is determined on a project by project basis according to City policy guidelines and executive decision making. Under both ordinances, projects of 50 units or less can only be required to pay the associated in-lieu fees, with land dedication or improvements offered only on a voluntary basis.

PARK TRUST FUND SUMMARY
Fiscal Year 2021/22 Beginning Fund Balance $85,948,974
In-Lieu Fees Collected 18,286,158
Other Revenue 5,189,864
Investment Income 837,128
Expenditures (9,839,957)
Change to Encumbrances (1,661,998)
Fiscal Year 2021/22 Ending Fund Balance $98,760,169
This report provides information on fees collected per the Park Impact Ordinance and the Parkland Dedication Ordinance for the Fiscal Year ending June 30, 2022. The PDO/PIO fees collected in Fiscal Year 2021-2022 are deposited into the Park Trust Fund and are combined with other funds (principally Construction and Conveyance funds) to pay for various public improvements as outlined on the list provided below. It includes the amount of expenditures on each improvement and the percentage of the costs funded from the PDO/PIO fees. All construction projects listed have or will commence within the next five years.
2021-2022 PDO/PIO FEE COLLECTIONS
Property Location Fee Paid Payment Date Description CD
1059 LANCER DR Unit 2 $ 4,100 July 7, 2021 CD 1 New Fee 1 824 W CAMPBELL AV $ 4,100 July 15, 2021 CD 1 New Fee 1
4145 PIPER DR Unit 2 $ 4,100 July 29, 2021 CD 1 New Fee 1 5740 MCKELLAR DR $ 4,100 August 10, 2021 CD 1 New Fee 1 1142 CAMERON PL Unit 2 $ 4,100 September 8, 2021 CD 1 New Fee 1 12500 QUITO RD $ 27,300 October 1, 2021 CD 1 New Fee 1
11940 VALLEJO DR $ 4,100 November 22, 2021 CD 1 New Fee 1 1137 CRAIG DR Unit 2 $ 4,100 November 24, 2021 CD 1 New Fee 1 3215 JADE AV Unit 2 $ 4,100 December 1, 2021 CD 1 New Fee 1 1043 AVONDALE ST $ 4,100 January 3, 2022 CD 1 New Fee 1 3057 FRUITDALE AV Unit 2 $ 4,100 March 4, 2022 CD 1 New Fee 1 2736 SCOTT ST Unit 2 $ 4,100 May 20, 2022 CD 1 New Fee 1 417 CALERO AV $ 2,200 September 7, 2021 CD 2 New Fee 2
4026 BLAIRMORE CT $ (1,950) September 17, 2021 CD 2 New Fee 2 5351 LEAN AV Unit 2 $ 2,200 October 5, 2021 CD 2 New Fee 2 25 PAQUITA ESPANA CT Unit 2 $ 2,200 November 8, 2021 CD 2 New Fee 2 226 ARBOR VALLEY DR Unit 2 $ 2,200 December 1, 2021 CD 2 New Fee 2 636 CALPELLA DR Unit 2 $ 2,200 February 16, 2022 CD 2 New Fee 2 621 GAUNDABERT LN $ 36,000 March 31, 2022 CD 2 New Fee 2 5289 DISCOVERY AV $ (1,950) April 8, 2022 CD 2 New Fee 2 4257 DULCEY DR Unit 2 $ 2,200 April 12, 2022 CD 2 New Fee 2 east side of South 22nd Street
approximately 250 feetsoutherly
of East Santa Clara Street (28 S
22ND ST) $ 103,600 July 12, 2021 CD 3 New Fee 3
South side of W. St. James St.,
between Terraine St. and N. San
Pedro St. (180 W ST JAMES ST) $ 4,918,950 August 3, 2021 CD 3 New Fee 3 1169 SHERMAN ST Unit 2 $ 4,850 August 13, 2021 CD 3 New Fee 3 north side of W Reed Street,
approximately 360 feet easterly
of Almaden Avenue (123 W REED
ST) $ 85,800 September 14, 2021 CD 3 New Fee 3
716 PALM ST Unit 2 $ (4,850) September 17, 2021 CD 3 New Fee 3 524 N 11TH ST Unit 2 $ 4,850 September 29, 2021 CD 3 New Fee 3 256 N 6TH ST Unit 2 $ 4,850 September 30, 2021 CD 3 New Fee 3 1041 E WILLIAM ST Unit 2 $ 4,850 October 1, 2021 CD 3 New Fee 3 860 S 8TH ST $ 4,850 October 6, 2021 CD 3 New Fee 3
42 S 22ND ST Unit 2 $ 4,850 October 22, 2021 CD 3 New Fee 3 north on Auzerais Avenue,
approximately 270 feet easterly
of Gifford Avenue (425 AUZERAIS
AV) $ 1,028,881 October 25, 2021 CD 3 New Fee 3
575 E EMPIRE ST Unit 2 $ 4,850 November 9, 2021 CD 3 New Fee 3 2021-2022 PDO/PIO FEE COLLECTIONS
Property Location Fee Paid Payment Date Description CD
691 LOCUST ST $ 4,850 November 18, 2021 CD 3 New Fee 3
west of S 6th Street,
approximately 280 feetsoutherly
of E Reed Street (647 S 6TH ST) $ 32,000 December 6, 2021 CD 3 New Fee 3 437 E EMPIRE ST Unit 2 $ 4,850 December 7, 2021 CD 3 New Fee 3 253 & 257 E. YOUNGER AVE.
(DUPLEX) (257 E YOUNGER AV
Unit 2) $ 4,850 December 20, 2021 CD 3 New Fee 3
east side of South 22nd Street
approximately 250 feetsoutherly
of East Santa Clara Street (28 S
22ND ST) $ 56,400 January 3, 2022 CD 3 New Fee 3
388 N 17TH ST Unit 2 $ 4,850 January 18, 2022 CD 3 New Fee 3 365 N 17TH ST Unit 2 $ 4,850 January 20, 2022 CD 3 New Fee 3 191 HAWTHORNE WY Unit 2 $ 4,850 February 1, 2022 CD 3 New Fee 3 344 N 11TH ST Unit 2 $ 4,850 February 8, 2022 CD 3 New Fee 3 1045 S 8TH ST Unit 2 $ 4,850 February 11, 2022 CD 3 New Fee 3 925 LOCUST ST $ 4,850 February 16, 2022 CD 3 New Fee 3
782 MCLAUGHLIN AV $ 4,850 March 15, 2022 CD 3 New Fee 3 885 N 5TH ST Unit 2 $ 4,850 April 22, 2022 CD 3 New Fee 3 264 N 34TH ST Unit 2 $ 1,950 May 4, 2022 CD 3 New Fee 3 225 EDWARDS AVE. & 920 VINE

STREET (SFR DUPLEX PROPERTY)
(225 EDWARDS AV Unit 2) $ 4,850 May 14, 2022 CD 3 New Fee 3 617 N 12TH ST Unit 2 $ 4,850 May 16, 2022 CD 3 New Fee 3 336 WEST CT Unit 2 $ 4,850 May 26, 2022 CD 3 New Fee 3
6 APNs clustered approximately
280 ft north of N 5th St and
Jackson St intersection (645 N
5TH ST) $ - June 27, 2022 CD 3 New Fee 3
1579 SIERRAVILLE AV Unit 2 $ 2,950 July 15, 2021 CD 4 New Fee 4 1096 PIEDMONT RD Unit 2 $ 2,950 September 14, 2021 CD 4 New Fee 4 1478 BELLEMEADE ST Unit 2 $ 2,950 September 15, 2021 CD 4 New Fee 4 2214 ROYAL TREE CL Unit 2 $ 2,950 October 1, 2021 CD 4 New Fee 4 1329 MOSSLAND DR Unit 2 $ 2,950 November 24, 2021 CD 4 New Fee 4 2318 SHADE TREE LN Unit 2 $ 2,950 December 7, 2021 CD 4 New Fee 4 2402 O'HARA CT $ 2,950 January 6, 2022 CD 4 New Fee 4
1330 CASSLAND CT Unit 2 $ 2,950 March 15, 2022 CD 4 New Fee 4 2033 CONIFER LN Unit 2 $ 2,950 May 20, 2022 CD 4 New Fee 4 1115 CLIPPER CT Unit 2 $ 2,950 June 6, 2022 CD 4 New Fee 4 96 PALA AV Unit 2 $ 1,950 August 6, 2021 CD 5 New Fee 5 10460 CLAYTON RD Unit 2 $ 1,950 August 19, 2021 CD 5 New Fee 5 2934 CAMELFORD WY $ 1,950 August 30, 2021 CD 5 New Fee 5 3419 KAYLENE DR $ 1,950 October 5, 2021 CD 5 New Fee 5
2021-2022 PDO/PIO FEE COLLECTIONS
Property Location Fee Paid Payment Date Description CD
38 PALA AV Unit 2 $ 1,950 November 17, 2021 CD 5 New Fee 5 1121 MORAES CT $ 1,950 November 18, 2021 CD 5 New Fee 5 1606 E SAN FERNANDO ST $ 1,950 November 30, 2021 CD 5 New Fee 5 1643 VIRGINIA PL Unit 2 $ 1,950 December 10, 2021 CD 5 New Fee 5 1577 VIRGINIA PL Unit 2 $ 1,950 December 10, 2021 CD 5 New Fee 5 1575 VIRGINIA PL Unit 2 $ 1,950 December 10, 2021 CD 5 New Fee 5 461 S WHITE RD $ 1,950 February 3, 2022 CD 5 New Fee 5
25 ALEXANDER AV Unit 2 $ 1,950 February 8, 2022 CD 5 New Fee 5 3420 DOMINICK CT $ 1,950 February 10, 2022 CD 5 New Fee 5 Southeast corner of South
Capitol Avenue and Rose
Avenue. (100 S CAPITOL AV) $ 13,000 February 15, 2022 CD 5 New Fee 5 2794 TANGLEWOOD DR Unit 2 $ 1,950 February 15, 2022 CD 5 New Fee 5 1824 VOLLMER WY Unit 2 $ 1,950 March 16, 2022 CD 5 New Fee 5 137 CEDAR LN Unit 2 $ 1,950 March 17, 2022 CD 5 New Fee 5 3028 FLORENCE AV Unit 2 $ 1,950 March 30, 2022 CD 5 New Fee 5 1521 CLAYTON RD Unit 2 $ 1,950 April 8, 2022 CD 5 New Fee 5 3015 MURTHA DR $ 1,950 May 13, 2022 CD 5 New Fee 5
1304 GAINSVILLE AV Unit 2 $ 1,950 May 17, 2022 CD 5 New Fee 5 127 SIERRA VISTA PL Unit 2 $ 1,950 June 6, 2022 CD 5 New Fee 5 3598 PEAK DR Unit 2 $ 1,950 June 22, 2022 CD 5 New Fee 5 1548 SHASTA AV $ 4,850 July 21, 2021 CD 6 New Fee 6
981 FRANQUETTE AV Unit 2 $ 4,450 August 10, 2021 CD 6 New Fee 6 1246 NAGLEE AV $ 4,850 August 26, 2021 CD 6 New Fee 6
1179 CURTNER AV Unit 2 $ 4,450 September 1, 2021 CD 6 New Fee 6 963 CALIFORNIA AV Unit 2 $ 4,450 September 1, 2021 CD 6 New Fee 6 1428 CALAVERAS AV Unit 2 $ 4,850 September 9, 2021 CD 6 New Fee 6 1787 MCDANIEL AV Unit 2 $ 4,850 September 22, 2021 CD 6 New Fee 6 2459 NIGHTINGALE DR Unit 2 $ 4,450 October 15, 2021 CD 6 New Fee 6 1555 MINNESOTA AV Unit 2 $ 4,450 November 17, 2021 CD 6 New Fee 6 1515 NEWPORT AV $ 4,450 November 17, 2021 CD 6 New Fee 6 508 S MONROE ST Unit 2 $ 4,100 November 19, 2021 CD 6 New Fee 6 1737 JONATHAN AV Unit 2 $ 4,450 November 30, 2021 CD 6 New Fee 6 1680 W HEDDING ST Unit 2 $ 4,850 December 2, 2021 CD 6 New Fee 6 1249 CURTNER AV $ 4,450 December 8, 2021 CD 6 New Fee 6 1047 EUGENE AV $ 4,850 December 14, 2021 CD 6 New Fee 6 521 COE AV $ 4,450 January 3, 2022 CD 6 New Fee 6
671 WILLOW GLEN WY Unit 2 $ 4,450 January 12, 2022 CD 6 New Fee 6 660 WILLOW GLEN WY $ 4,450 January 31, 2022 CD 6 New Fee 6 1203 EMORY ST $ 4,850 February 2, 2022 CD 6 New Fee 6
South side of West San Carlos
Street, approximately 500 feet
east of Sunol Street (750 W SAN
CARLOS ST) $ 915,300 February 2, 2022 CD 6 New Fee 6
162 RAINIER ST Unit 2 $ 4,850 February 2, 2022 CD 6 New Fee 6 2021-2022 PDO/PIO FEE COLLECTIONS
Property Location Fee Paid Payment Date Description CD
1861 CAMPBELL AV $ 4,450 March 3, 2022 CD 6 New Fee 6
1079 MYRTLE ST Unit 2 $ 4,850 March 14, 2022 CD 6 New Fee 6 northeast corner of South
Bascom Avenue and Southwest
Expressway (1330 S BASCOM AV) $ 9,259,527 March 14, 2022 CD 6 New Fee 6 2004 CHERRYSTONE DR $ 16,000 March 23, 2022 CD 6 New Fee 6 1251 MADRONA AV $ 4,450 April 7, 2022 CD 6 New Fee 6
1665 ISABEL DR Unit 2 $ 4,450 April 19, 2022 CD 6 New Fee 6 773 ELM ST Unit 2 $ 4,850 April 26, 2022 CD 6 New Fee 6 2180 ALMADEN RD Unit 2 $ 4,450 May 3, 2022 CD 6 New Fee 6 398 MENKER AV $ (4,850) May 4, 2022 CD 6 New Fee 6
1111 NEVADA AV $ 4,450 May 16, 2022 CD 6 New Fee 6
1020 PAULA ST $ 32,000 June 2, 2022 CD 6 New Fee 6
south of Brace Avenue,
approximately 300 feet easterly
of Newport Avenue (1168 BRACE
AV) $ 78,900 June 2, 2022 CD 6 New Fee 6
1257 UNIVERSITY AV $ 4,850 June 3, 2022 CD 6 New Fee 6
653 DOROTHY AV Unit 2 $ 4,450 June 13, 2022 CD 6 New Fee 6 2064 RANDOLPH DR $ 4,850 June 22, 2022 CD 6 New Fee 6
2452 HOMEWOOD DR Unit 2 $ 2,400 June 25, 2022 CD 6 New Fee 6 13089 POTTS DR Unit 2 $ 1,950 September 15, 2021 CD 7 New Fee 7 west side of Water Street,
approximately 130 feetsoutherly
of Southside Drive (3111 WATER
ST) $ 52,000 November 3, 2021 CD 7 New Fee 7
13028 WATER ST $ 1,950 December 14, 2021 CD 7 New Fee 7 1541 TOLBERT DR Unit 2 $ 1,950 December 26, 2021 CD 7 New Fee 7 1131 SADDLEWOOD DR Unit 2 $ 1,950 January 19, 2022 CD 7 New Fee 7 1079 FORGEMILL CT Unit 2 $ 1,950 February 14, 2022 CD 7 New Fee 7 3112 GARDEN AV Unit 2 $ 1,950 March 16, 2022 CD 7 New Fee 7 13197 POTTS DR Unit 2 $ 1,950 March 18, 2022 CD 7 New Fee 7 2672 LANIER LN Unit 2 $ 1,950 April 25, 2022 CD 7 New Fee 7 west side of Carol Drive,
approximately 100 feet north of
the terminus of Carol Drive (2661
CAROL DR) $ 13,000 June 1, 2022 CD 7 New Fee 7
3249 LANTERN CT Unit 2 $ 1,950 June 24, 2022 CD 7 New Fee 7 3320 FRONDA DR UNIT 2, ***
(3320 FRONDA DR UNIT 2 Unit 2) $ 2,800 July 12, 2021 CD 8 New Fee 8 3239 FLINTDALE DR Unit 2 $ 1,950 July 17, 2021 CD 8 New Fee 8 4255 MACKIN WOODS LN Unit 2 $ 2,800 July 20, 2021 CD 8 New Fee 8 $ 2,800 August 6, 2021 CD 8 New Fee 8
2120 BRIDLE RIDGE CT Unit 2 $ 2,800 August 18, 2021 CD 8 New Fee 8 2021-2022 PDO/PIO FEE COLLECTIONS
Property Location Fee Paid Payment Date Description CD
1678 BAGPIPE WY $ 2,800 September 9, 2021 CD 8 New Fee 8 2885 URZI CT Unit 2 $ 2,800 September 15, 2021 CD 8 New Fee 8 3694 CADWALLADER AV Unit 2 $ 2,800 September 17, 2021 CD 8 New Fee 8 west side of San Felipe Road,
approximately 1,010 feet south
of Delta Road (4349 SAN FELIPE
RD) $ 18,600 September 23, 2021 CD 8 New Fee 8
2365 PLEASANT ACRES DR $ 1,950 October 11, 2021 CD 8 New Fee 8 3216 LYTER WY Unit 2 $ 2,800 December 14, 2021 CD 8 New Fee 8 3140 TEDDINGTON DR Unit 2 $ 2,800 December 22, 2021 CD 8 New Fee 8 3074 KNICKERSON DR Unit 2 $ 2,800 January 25, 2022 CD 8 New Fee 8 2664 PIXANNE CT Unit 2 $ 1,950 February 10, 2022 CD 8 New Fee 8 3297 STANDER DR Unit 2 $ 2,800 February 16, 2022 CD 8 New Fee 8 2408 RUBY AV $ 1,950 March 10, 2022 CD 8 New Fee 8
2035 LADDIE WY Unit 2 $ 2,800 March 16, 2022 CD 8 New Fee 8 3619 NORTREE ST Unit 2 $ 2,800 April 26, 2022 CD 8 New Fee 8 3291 SELVA DR Unit 2 $ 1,950 April 28, 2022 CD 8 New Fee 8 2009 CUNNINGHAM CT Unit 2 $ 1,950 May 15, 2022 CD 8 New Fee 8 1930 LOCH NESS WY $ 2,800 May 25, 2022 CD 8 New Fee 8
7040 HEARTLAND WY $ 2,800 June 6, 2022 CD 8 New Fee 8
Southeast corner of Norwood
Avenue and Brightwood Drive.
(3148 NORWOOD AV) $ 37,200 June 9, 2022 CD 8 New Fee 8
2563 BRIARWOOD DR Unit 2 $ 4,450 July 13, 2021 CD 9 New Fee 9 1457 MYRTLE AV $ 2,300 August 3, 2021 CD 9 New Fee 9
1797 NELSON WY Unit 2 $ 2,300 August 5, 2021 CD 9 New Fee 9 2785,2787 ALMADEN RD ***
(2787 ALMADEN RD Unit 4) $ 4,450 August 23, 2021 CD 9 New Fee 9 2785,2787 ALMADEN RD ***
(2787 ALMADEN RD Unit 3) $ 4,450 August 23, 2021 CD 9 New Fee 9 northside of Zinnia Lane,
approximately 710 feet easterly
of Begonia Drive (1681 ZINNIA
LN) $ 30,200 September 20, 2021 CD 9 New Fee 9
west side of Union Avenue,
1,070 feet northerly of Camden
Avenue (3235 UNION AV) $ 604,000 September 30, 2021 CD 9 New Fee 9 1563 SAN ANDREAS AV $ 2,300 November 29, 2021 CD 9 New Fee 9 4985 BEL ESCOU DR Unit 2 $ 2,300 December 17, 2021 CD 9 New Fee 9 1881 DRY CREEK RD $ 4,100 January 5, 2022 CD 9 New Fee 9 4820 WEST FORK CT Unit 2 $ 2,200 January 10, 2022 CD 9 New Fee 9 2021-2022 PDO/PIO FEE COLLECTIONS
Property Location Fee Paid Payment Date Description CD
2102 CARLTON AV $ 2,300 January 22, 2022 CD 9 New Fee 9 east of South Bascom Avenue,
approximately 350-feet
northeasterly of Camden Avenue
(3090 S BASCOM AV) $ 433,350 January 28, 2022 CD 9 New Fee 9 1432 MYRTLE AV Unit 2 $ 2,300 February 7, 2022 CD 9 New Fee 9 3072 KILO AV Unit 2 $ 2,300 February 15, 2022 CD 9 New Fee 9 1784 GUNSTON WY Unit 2 $ 2,300 March 3, 2022 CD 9 New Fee 9 3125 DAKAN CT Unit 2 $ 2,200 March 23, 2022 CD 9 New Fee 9 3736 ROSS AV Unit 2 $ 2,300 May 9, 2022 CD 9 New Fee 9
1433 SEARCY DR Unit 2 $ 2,300 May 13, 2022 CD 9 New Fee 9 7168 MCKEAN CT $ 2,600 September 29, 2021
CD 10 New
Fee 10
7175 GLENVIEW DR $ 2,600 December 20, 2021
CD 10 New
Fee 10
6078 BURNBANK PL Unit 2 $ 2,600 January 28, 2022
CD 10 New
Fee 10
5970 SNELL AV Unit 2 $ 2,200 April 19, 2022
CD 10 New
Fee 10
6378 PEARLROTH DR $ 2,200 April 21, 2022
CD 10 New
Fee 10
West side of Almaden Road,
approximately 150 feet northerly
of Corvallis Drive (6805
ALMADEN RD) $ 83,900 May 2, 2022
CD 10 New
Fee 10
5685 COMANCHE DR $ (2,200) May 5, 2022
CD 10 New
Fee 10
5685 COMANCHE DR $ 2,200 May 5, 2022
CD 10 New
Fee 10
6950 AVENIDA ROTELLA Unit 2 $ 2,200 May 13, 2022
CD 10 New
Fee 10
5685 COMANCHE DR $ 2,200 June 6, 2022
CD 10 New
Fee 10
7071 MARTWOOD WY Unit 2 $ 2,600 June 7, 2022
CD 10 New
Fee 10
10071 VIEWPOINT LN $ 17,300 June 16, 2022
CD 10 New
Fee 10
Subtotal $ 18,389,758
less 50% transfer to SJMD* $ -
TOTAL $ 18,389,758
PARK TRUST FUND (PTF) PROJECT LIST: FY 2021-2022
APPN Project Name Budget
% Fee
Funded
FY 21 -22
Expenses
Prior Year
Expenses
401P Branham Park Improvements 400,000 81% 302,838 -
402D Del Monte Park Expansion Phase III
Master Plan
390,000 59% - 84,685
403D Mayfair Community Center Park
Improvements
90,000 13% 32,414 10,243
403L North San Pedro Area Parks Master
Plans
611,000 100% 179,124 774,128
404L Santana Park Master Plan 250,000 100% - -
404R Spartan Keyes Neighborhood Park
Master Plan
275,000 100% 162,873 -
404S St. James Park Phase I Design 2,079,597 98% 8,597 1,032,313 404W Tamien Park Development (Phase II) 251,406 100% 251,352 2,620,855 405C TRAIL: Guadalupe River Park and
Blossom River Drive Connection
172,000 100% 36,917 28,856
405S Coyote Creek Trail (Story Road to
Phelan Avenue)
51,968 1% 51,968 741,070
406L Rotary Playgarden Parking Lot Lift
Station
15,000 100% - 34,118
406N Los Paseos Park LED Lights 75,000 75% 56,951 1,392 406W Pueblo de Dios Master Plan and
Design
262,229 51% 59,842 263,137
407V Plaza de César Chávez Interim
Improvements
328,000 100% 6,386 172,656
409E All Inclusive Playground - Emma
Prusch
300,000 8% 271,199 50,507
409F All Inclusive Playground - Lincoln
Glen
52,462 100% 43,444 1,882,673
409G Berryessa Community Center
Improvements
34,501 100% - 130,934
409I Camden Community Center
Improvements
442,000 22% 94,425 13,731
409N River Glen Park Improvements 874,600 67% 568,387 165,069 409P Southside Community Center
Renovations
717,000 100% 176,486 753,555
409Q Southside Community Center Youth
Shade Structure
80,000 100% 43,984 -
409R Thousand Oaks Park Minor
Improvements
4,000 100% - 95,916
409V iStar Great Oaks Park Design Review
and Inspection
137,000 71% 120,669 235,605
409Z TRAIL: Los Gatos Reach 5 A/B
Undercrossing Design
185,440 100% 158,203 814,728
411H TRAIL: Coyote Creek (Story Road
Intersection and Trail Enhancements)
115,000 38% - -
411M Mercado Park Design Review and
Inspection
260,000 100% 22,834 38,187
411N Bruzzone Way Park Design Review
and Inspection
264,000 100% 8,642 33,072
411O TRAIL: Coyote Creek (Mabury Road
to Empire Street)
1,623,000 100% 672,356 1,595,993
411Q Capitol Turnkey Park Design, Review
and Inspection
30,000 100% 27,832 101,827
*Expenses do not include committed funds
PARK TRUST FUND (PTF) PROJECT LIST: FY 2021-2022
APPN Project Name Budget
% Fee
Funded
FY 21 -22
Expenses
Prior Year
Expenses
412A Japantown Park Design, Review and
Inspection
630,000 100% 106,082 9,421
412B Japantown Park Public Art 126,125 100% 44,055 149,552 412F All Inclusive Playground - Rotary
Playgarden Phase II
1,586,189 100% 132,806 429,609
412G All-Inclusive Playground - Almaden
Lake Park
71,000 6% 291 6,306
412L Backesto Park Tot and Youth Lots 951,111 100% 43,630 68,278 413H Discovery Dog Park Improvements 50,000 100% 31,553 - 413K Evergreen Community Center
Marquee
120,000 92% 14,592 16,939
413R Jeneane Marie Circle Fencing - - 9,424
414K Newbury Park Development 1,711,248 97% 74,390 171,696 415I Pellier Park 3,810,262 100% 1,188,688 439,847
415J Penitencia Creek Dog Park 896,000 92% 80,445 53,391 415O Ramac Park Turf Replacement 427,000 18% 427,000 -
4185 Iris Chang Park Development - - 2,328,092
418D Berryessa Community Center
Renovations
71,000 31% 20,550 113,044
418H Roosevelt Community Center Lighting
Improvements
250,000 100% 249,731 -
418I Ryland Pool Improvements 84,000 100% 21,343 210,629 421E Alma Community Center
Improvements
20,000 20% - -
421O Fair Swim Center Improvements 19,000 86% 15,620 -
421S Hamann Park Tot Lot Renovation 400,000 57% 12,425 - 421U Hanchett Park Master Plan 127,042 100% 82,269 73,267 422B Mise Park Improvements - - 15,000
422E Parque de Pobladores Phase II
Feasibility Study
150,000 100% - -
422F Payne Avenue Park Phase I 5,211,000 100% 83,331 65,911 422V Guadalupe River Park Ranger Station
Rehabilitation
30,069 100% - 69,932
422Y TRAIL: Thompson Creek (Quimby
Road to Aborn Court)
834,000 64% 37,498 -
423G Trail: Three Creeks: Lonus Street to
Coe Avenue
1,088,000 100% 892,915 12,333
423S CD 6 Property Acquisition - - 1,450,000
423Z Mount Pleasant Park Tennis Courts
Resurfacing
77,000 91% 72,420 -
424D Cypress Community Center Roof
Replacement
220,000 100% - -
424E Cypress Community Center
Restroom Renovations
66,000 21% 2,777 -
424F Calabazas Park Bike Park
Renovations
35,000 100% - -
424G TRAIL: Odette Morrow Spur 55,000 100% - -
424I Backesto Park Fountain Renovations 100,000 100% 16,409 - 424J TRAIL: SF Bay Trail Reach 9 100,000 100% 1,473 -
*Expenses do not include committed funds
PARK TRUST FUND (PTF) PROJECT LIST: FY 2021-2022
APPN Project Name Budget
% Fee
Funded
FY 21 -22
Expenses
Prior Year
Expenses
424L Hank Lopez Community Center Roof
Replacement
180,000 100% 171,224 -
424M Cimarron Basketball Court
Resurfacing
20,000 29% - -
424N TRAIL: Three Creek Lonus Extension
Design
400,000 64% 27,304 -
424U Evergreen Community Center
Improvements
171,000 36% 42,200 -
424W Butcher Dog Park Renovations 244,000 79% - -
424X Almaden Community Center and
HVAC Replacement
290,000 100% 279,948 -
425B Welch Park Playground
Improvements
6,000 6% - -
425F Almaden Lake Park Playground and
Restroom Improvements
38,000 14% - -
426Q Council District 3 Property Ac 390,000 100% 390,000 - 427E Winchester Orchard Park Design,
Review, and Inspection
342,000 100% 107,769 -
427F Tully Road Ballfields Dog Park
Improvements
100,000 100% 95,510 -
427K TRAIL: Five Wounds Trestle Study 580,000 100% 52,272 - 427W In-Lieu Fee Refund 11,157 100% 11,157 -
427X TRAIL: Penitencia Creek Trail
Realignment
110,000 100% 4,519 -
4298 Communications Hill Hillsdale Fitness
Staircase Reimbursement
1,822,000 86% - -
4458 Public Works Development Services
Staff
100,000 100% 85,917 -
4665 Penitencia Creek Park Dog Park
Public Art
- - -
4794 Welch Park and Neighborhood
Center Improvements
- 0% - -
5044 Rincon South Park Development - - -
5086 Tamien Park Development (Phase I) - - -
5103 Penitencia Creek Neighborhood Park
Public Art
- - -
5105 Penitencia Creek Public Art - - -
5302 Park Trust Fund Administration 260,000 100% 259,242 - 5950 TRAIL: Three Creeks Land
Acquisition
75,000 100% - -
6000 Capital Program and Public Works
Department Support Service Costs
502,000 100% 213,823 -
6027 Preliminary Studies - Turnkey Parks 50,000 100% 28,391 - 6665 PDO Valuation Updates 40,000 100% - -
7189 Metcalf Park Perimeter Fencing - - -
7209 TRAIL: Guadalupe River Undercrossing (Coleman Road) Design137,462 100% 14,462 - 7307 TRAIL: Three Creeks Interim
Improvements and Pedestrian Bridge
3,830 100% 187 -
7554 TRAIL: Coyote Creek (Story Road to
Selma Olinder Park)
493,491 100% 369,798 -
*Expenses do not include committed funds
PARK TRUST FUND (PTF) PROJECT LIST: FY 2021-2022
APPN Project Name Budget
% Fee
Funded
FY 21 -22
Expenses
Prior Year
Expenses
7558 Willow Glen Community Center
Improvements
207,000 100% 111,457 -
7639 Martial-Cottle Community Garden - (862) -
7644 Agnews Property Development 1,798,661 70% 184,227 - 7709 Watson Park Improvements 5,000 100% 5,000 -
7715 Roosevelt Park Improvements - - -
7739 Lake Cunningham Bike Park 202,527 100% - -
7740 Municipal Rose Garden
Improvements
74,000 100% 36,796 -
7749 TRAIL: Coyote Creek Fish Passage
Remediation and Pedestrian Bridge
(Singleton Crossing)
8,300 1% 8,300 -
7764 TRAIL: Coyote Creek (Brokaw Road
to Union Pacific Railroad Corridor)
Design
155,298 33% 174 -
7788 Communications Hill Hillsdale Fitness
Staircase Design Review and
Inspection
184,000 100% 135 -
7789 St. James Park Capital Vision - - -
7793 Newbury Park Design - - -
7795 Baypointe Interim Park 91,000 100% 90,990 -
7807 Biebrach Park Renovation - 0% - -
7838 Willow Glen Community Center
Plumbing Improvements
98,000 100% - -
7839 TRAIL: Three Creeks (Lonus Street to
Guadalupe River)
84,000 100% - -
7852 TRAIL: Guadalupe River (Chynoweth
Ave) Pedestrian Bridge Design
1,350,000 100% - -
8078 TRAIL: Coyote Creek (Brokaw Road
to Union Pacific Railroad Corridor)
Reserve
1,821,000 100% - -
8091 De Anza Park Minor Improvements
Reserve
101,000 100% - -
8148 Spartan Keyes Area Park
Development Reserve
6,526,000 100% - -
8318 Balbach Area Park Development
Reserve
350,000 100% - -
8394 Santana Park Development Reserve 4,038,000 100% - - 8473 Cahill Park Turf Renovation Reserve 287,000 72% - - 8479 TRAIL: Coyote Creek (Mabury Road
to Empire Street) Reserve
3,549,000 100% - -
8507 St. James Park Phase I Reserve 6,201,000 100% - -
8532 Del Monte Park Phase III
Development Reserve
6,001,000 100% - -
8533 Infrastructure Backlog: RCS Reserve 200,000 100% - - 8534 North San Pedro Area Parks Reserve 2,741,000 100% - - 8707 TRAIL: Lower Silver Creek (Peter
Pan Avenue to Bredford Way)
Reserve
41,000 100% - -
8719 Camden Community Center Reserve 267,000 100% - -
*Expenses do not include committed funds
PARK TRUST FUND (PTF) PROJECT LIST: FY 2021-2022
APPN Project Name Budget
% Fee
Funded
FY 21 -22
Expenses
Prior Year
Expenses
8720 Hanchett Park Reserve 61,000 6% - -
8723 TRL: 3 CREEK LONUS EXT CONST 1,200,000 72% - -
8845 Future PDO / PIO Projects Reserve 16,185,817 100% - - A021 Transfer to: City Hall Debt Service 240,000 100% 240,000 1,008,000 A046 Transfer to: General Fund - Interest
Income
- - 29,292
90,119,792 9,839,957 18,405,214
*Expenses do not include committed funds

CITY OF SAN JOSE

PARKS AND RECREATION

BOND PROJECTS FUND
(A Fund of the City of San José)
Independent Auditor’s Reports,
Financial Statements,
Other Supplementary Information and
Independent Accountant’s Report
For the Year Ended June 30, 2022
Attachment B

CITY OF SAN JOSE

PARKS AND RECREATION BOND PROJECTS FUND
(A Fund of the City of San José)
For the Year Ended June 30, 2022
Table of Contents
Page
Independent Auditor’s Report....................................................................................................................1 Financial Statements:

Balance Sheet ...............................................................................................................................................5 Statement of Revenues, Expenditures, and Change in Fund Balance ..............................................................6 Notes to the Financial Statements..................................................................................................................7 Other Supplementary Information:

Statements of Revenues, Expenditures, and Change in Fund Balance by Fiscal Year For the Period June 6, 2001 through June 30, 2022 ................................................................................... 11 Other Reports:

Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards............................................................. 17 Independent Accountant’s Report on Compliance with Measure P............................................................. 19 Independent Auditor’s Report
City Council and
Members of the Parks and Recreation Commission
City of San José, California
Opinion
We have audited the financial statements of the Parks and Recreation Bond Projects Fund (Fund), a fund of the City of San José (City), as of and for the year ended June 30, 2022, and the related notes to the financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the Fund of the City of San José, as of June 30, 2022, and the change in its financial position thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Emphasis of a Matter
As discussed in Note 2, the financial statements present only the Fund and do not purport to, and do not, present fairly the financial position of the City as of June 30, 2022, the changes in its financial position, or where applicable, its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter.

Management’s Responsibilities for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Macias Gini & O’Connell LLP
2121 N. California Boulevard, Suite 750
Walnut Creek, CA 94596 1 www.mgocpa.com
2 Auditor’s Responsibility for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

Supplementary Information
Our audit was conducted for the purpose of forming an opinion on the financial statements. The accompanying statements of revenues, expenditures, and change in fund balance by fiscal year for the period from June 6, 2001 through June 30, 2022 are presented for purposes of additional analysis and are not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information for the year ended June 30, 2022 has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the supplementary information for the year ended June 30, 2022 is fairly stated in all material respects in relation to the financial statements as a whole. 3 We also have previously audited, in accordance with auditing standards generally accepted in the United States of America, the Fund’s financial statements as of and for the period from June 6, 2001 through June 30, 2008, as of and for the years ended June 30, 2009 through 2015, and as of and for the years ended June 30, 2018 through 2021 which are not presented with the accompanying financial statements.

In our reports dated March 13, 2009, October 2, 2009, December 2, 2010, October 18, 2011, November 15, 2012, October 4, 2013, November 14, 2014, October 8, 2015, October 23, 2018, October 15, 2019, November 13, 2020, and November 3, 2021 respectively, we expressed unmodified opinions on the Fund’s financial statements. Those audits were conducted for the purposes of forming an opinion on the financial statements as a whole. The information for the period from June 6, 2001 through June 30, 2015, and for the years ended June 30, 2018 through 2021 been subjected to the auditing procedures applied in the audits of those financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information for the period from June 6, 2001 through June 30, 2008, the years ended June 30, 2009 through 2015, and the years ended June 30, 2018 through 2021 is fairly stated in all material respects in relation to the financial statements from which they have been derived.

The financial statements of the Fund as of and for the years ended June 30, 2016 and 2017 were audited by other auditors. Those auditors expressed unmodified opinions on those reports dated November 17, 2016 and October 20, 2017, respectively. Those auditors’ reports also stated that the Statements of Revenues, Expenditures, and Change in Fund Balance by fiscal year for the years ended June 30, 2016 and 2017 were fairly stated, in all material respects, in relation to the financial statements as a whole.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated October 27, 2022 on our consideration of the City’s internal control over the Fund’s financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over the Fund’s financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over the Fund’s financial reporting and compliance.

Walnut Creek, California
October 27, 2022
4 This page is intentionally left blank.

CITY OF SAN JOSE

PARKS AND RECREATION BOND PROJECTS FUND
(A Fund of the City of San José)
See accompanying notes to the financial statements.
5 Balance Sheet
June 30, 2022
Assets
Restricted assets:

Equity in pooled cash and investments held in the City Treasury $ 2,529,622 Investments held with fiscal agents 14,832,216
Accrued interest receivable 6,620
Total assets $ 17,368,458
Liabilities and Fund Balance
Liabilities:

Accounts payable and accrued liabilities
Fund balance:
$ 2,828
Restricted for Parks and Recreation Bond projects 17,365,630 Total liabilities and fund balance $ 17,368,458

CITY OF SAN JOSE

PARKS AND RECREATION BOND PROJECTS FUND
(A Fund of the City of San José)
See accompanying notes to the financial statements.
6 Statement of Revenues, Expenditures, and Change in Fund Balance For the Year Ended June 30, 2022
Revenues:

Investment income $ 48,704
Unrealized gain/(loss) on investments (69,014)
Total revenues (20,310)
Expenditures:

Columbus Park Soccer Facility 334,781
Change in fund balance (355,091)
Fund balance, beginning of year 17,720,721
Fund balance, end of year $ 17,365,630

CITY OF SAN JOSE

PARKS AND RECREATION BOND PROJECTS FUND
(A Fund of the City of San José)
Notes to the Financial Statements
For the Year Ended June 30, 2022
7 NOTE 1 – BACKGROUND
In November 2000, registered voters of the City of San José (City) approved Measure P, the San José Safe Neighborhood Parks and Recreation Bonds, authorizing the issuance and sale of general obligation bonds (Parks Bonds) not to exceed $228,030,000 to be used to fund the acquisition of property and construction of improvements to neighborhood and regional parks, community centers and other recreational amenities within the City. The Parks bond proceeds are not allowed to be expended on salaries of Park administrators.

Therefore, the City did not use bond proceeds to pay for administrative salaries within the Parks and Recreation Department. The capital project management services provided by the Parks and Recreation Department are considered allowable expenditures and reported in the project administration costs.

The table below sets forth the amount of Parks Bonds authorized and issued pursuant to Measure P:

Voter authorization
Amount
$ 228,030,000
Date
November 7, 2000
Bonds issued:

Series 2001 Bonds 40,000,000 June 6, 2001
Series 2002 Bonds 46,715,000 July 18, 2002
Series 2004 Bonds 46,000,000 July 14, 2004
Series 2005 Bonds 45,400,000 June 23, 2005
Series 2006 Bonds 22,100,000 June 29, 2006
Series 2008 Bonds 27,815,000 June 25, 2008
Total bonds issued 228,030,000
Authorized but unissued $ -
As of June 30, 2022, outstanding projects approved by the City Council to be funded by the remaining bond proceeds include Columbus Park Soccer Facility. See Note 4 for the related outstanding project construction commitments.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The accompanying financial statements present only the financial position and the change in financial position of the Parks and Recreation Bond Projects Fund (Fund) and do not purport to, and do not, present fairly the financial position of the City as of June 30, 2022, the change in its financial position, or where applicable, its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

A capital projects fund (governmental fund) is used to account for the City’s Parks and Recreation Bond Projects activities. Capital projects funds are used to account for financial resources (e.g., bond proceeds and investment income) that are restricted, committed, or assigned to expenditures for capital outlays, including the acquisition of land or acquisition and construction of major governmental facilities.

CITY OF SAN JOSE

PARKS AND RECREATION BOND PROJECTS FUND
(A Fund of the City of San José)
Notes to the Financial Statements
For the Year Ended June 30, 2022
8 NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Basis of Accounting
The Fund’s activity is reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available.

Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. The Fund considers revenues to be available if collected within 60 days of the end of the current fiscal period. Expenditures are generally recorded when a liability is incurred, as under accrual accounting. However, expenditures related to vacation, sick leave, claims and judgments are recorded only when payment is due.

Restricted Cash and Investments
Cash and investments that are restricted for specified uses by bond covenants or other requirements are classified as restricted. The Fund’s restricted cash and investments are held in the City Treasury and in fiscal agent accounts to be spent only on authorized capital projects. The Fund’s restricted cash and investments are subject to the requirements of the City’s adopted investment policy and bond indentures.

The fair value of investments is based on quoted market information obtained from fiscal agents or other sources. Income and losses arising from the investment activity of pooled cash are allocated to the participating funds on a monthly basis, based on their proportionate shares of the average daily cash balance. The fiscal year 2021-22 income and losses from investment activity is comprised of $48,704 investment income and $69,014 unrealized loss on investment.

Fund Balance
Under Governmental Accounting Standards Board Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, the balance sheets of governmental funds classify fund balances based primarily on the extent to which the Fund is bound to honor constraints on the specific purposes for which those funds can be spent. The Fund only has restricted fund balance at June 30, 2022. Restricted fund balance represents amounts when constraints placed on use of resources are either (1) externally imposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulations of other governments; or (2) imposed by law through constitutional provisions or enabling legislation.

Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions that affect the reported amounts and disclosures. Accordingly, actual results may differ from those estimates.

CITY OF SAN JOSE

PARKS AND RECREATION BOND PROJECTS FUND
(A Fund of the City of San José)
Notes to the Financial Statements
For the Year Ended June 30, 2022
9 NOTE 3 – RESTRICTED CASH AND INVESTMENTS
A summary of the Fund’s restricted cash and investments at June 30, 2022 are as follows:

Moody’s Credit Weighted Average
Type of investment Fair Value Risk Rating Maturity
City of San José cash and investment pool $ 2,529,622 Unrated 565 days State of California Local Agency Investment Fund 11,916,935 Unrated 291 days Wilmington Trust Money Market Mutual Fund 2,915,281 AAAm 28 days Total investments $ 17,361,838
The Fund has investments subject to provisions of the bond indentures of its various bond issues.

According to the bond indentures, the Fund is permitted to invest in the City’s cash and investment pool, the State of California Local Agency Investment Fund (LAIF), obligations of the U.S. Treasury or U.S. government agencies, time deposits, money market mutual funds invested in U.S. government securities, along with various other investments.

The Fund maintains its investments in the City’s cash and investment pool. The amounts held in the City’s investment pool can be withdrawn upon demand. Income and losses arising from the investment activity of pooled cash are allocated to the participating funds on a monthly basis, based on their proportionate shares of the average daily cash balance. Information regarding the characteristics of the entire investment pool can be found in the City’s basic financial statements for the year ended June 30, 2022. A copy of that report may be obtained by contacting the City’s Finance Department, 200 East Santa Clara Street, 13th Floor, San José, CA, 95113 or can be found at the City’s Finance Department Website at http://www.sanjoseca.gov.

Government Code Section 16429.1 authorizes each local government agency to invest funds in the LAIF administered by the California State Treasurer. The total amount recorded by all public agencies in LAIF at June 30, 2022 was approximately $35.8 billion. LAIF is part of the State’s Pooled Money Investment Account (PMIA). The total amount recorded by all public agencies in PMIA at June 30, 2022 was approximately $234.5 billion and of that amount, 98.12% was invested in non-derivative financial products and 1.88% in structured notes and asset backed securities. The Local Investment Advisory Board (Board) has oversight responsibility for LAIF. The Board consists of five members as designated by State statute. The value of the pool shares in LAIF, which may be withdrawn, is determined on an amortized cost basis, which is different than the fair value of the Fund’s position in the pool.

Credit Risk
Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This risk is measured by the assignment of a rating by nationally recognized statistical rating organizations. The City’s investment policy has mitigated credit risk by limiting investments to the safest types of securities, by prequalifying financial institutions, by diversifying the portfolio, and by establishing monitoring procedures.

CITY OF SAN JOSE

PARKS AND RECREATION BOND PROJECTS FUND
(A Fund of the City of San José)
Notes to the Financial Statements
For the Year Ended June 30, 2022
10 NOTE 3 – RESTRICTED CASH AND INVESTMENTS (Continued) Concentration Credit Risk
Concentration of credit risk is the risk that the failure of any one issuer would place an undue financial burden on the Fund. Investments issued by or explicitly guaranteed by the U.S. government and investments in mutual funds and other pooled investments are exempt from this requirement, as they are normally diversified themselves.

Interest Rate Risk
Interest rate risk is the risk that changes in market rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment the greater the sensitivity of its fair value to changes in market rates. The City’s investment policy has mitigated interest rate risk by establishing policies over liquidity, including maturity limits by investment classification. These limits, for investments other than external investment pools and money market mutual funds, range from 10 days to 5 years depending on the investment classification.

Fair Value Measurement Categorization
The Fund categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. Level 1 inputs are quoted prices in an active market for identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant unobservable inputs. The inputs and techniques used for valuing securities are not necessarily an indication of risk associated with investing in those securities. The City’s investment in Wilmington Trust Money Market Mutual Funds is measured at level 1 inputs, while investments in the City’s cash and investment pool and LAIF are not subject to fair value hierarchy.

NOTE 4 – COMMITMENTS
At June 30, 2022, the Fund has outstanding project construction encumbrances as follows:

Project Amount
Columbus Park Soccer Facility $ 579,047

CITY OF SAN JOSE

Investment income $ 233,266 $ 1,695,340 $ 3,237,732 $ 16,887 $ 1,722,773 $ 2,779,342 $ 5,138,908 Unrealized gain/(loss) on Investments * - - - - - - -
Intergovernmental - - - - - - -
Intergovernmental from State - - - - - - -
Other - - 37,820 - 11,426 - 6,458
Total revenues 233,266 1,695,340 3,275,552 16,887 1,734,199 2,779,342 5,145,366 Expenditures:

Capital outlay:

Almaden Joint Facility - Community Center/Library - 58,681 682,929 1,084,999 7,791,470 6,124,290 512,990 Almaden Lake Park - - 146,556 648,088 783,633 144,773 191,622 Almaden Meadows Youth Lot - 27,040 251,373 92,765 - - - Alviso Park Youth & Tot Lot - 21,082 441,765 50,890 - - - Alum Rock Avenue and 31 Street Park Phase II - - - - - - - Backesto Youth & Tot Lot/ Restroom - 64,605 558,866 15,823 - - - Bascom Community Center - - 11,142 88,827 851,399 49,635 122,513 Biebrach Park Play Lots & Restrooms - - 101,159 525,515 - - - Bramhall Park Restroom - 28,318 141,599 9,923 - - -
Brigadoon Tot Lot Renovation - 33,398 197,862 3,333 - - - Butcher Park Youth/Tot Lot/Playlot Renovation - 73,900 367,926 11,992 - - - Cahalan Park Tot Lot 30,997 600,052 1,769 - - - -
Calabazas Park Restroom - 30,585 242,335 18,181 - - -
Camden Multi-Service Center - 636,697 989,279 2,900,625 4,343,202 135,591 - Capital Park Tot Lot Renovation 1,918 91,633 245,743 20,998 - - - Cataldi Park Youth & Tot Lot 4,868 118,039 252,519 20,998 - - - Children of the Rainbow - 35,296 162,130 2,194 - - -
Cimarron Park Play Area Renovation - 24,014 225,966 14,748 - - - Columbus Park Soccer Facility - - - - - - -
Coyote Creek Trail - Los Lagos Golf Course - - 85,569 184,944 107,981 116,287 82,825 Emma Prusch Memorial Park/All Inclusive Playground - 23,815 254,498 90,568 56,587 1,026,632 546,479 Emma Prusch Memorial Park - LeFevre House 3,949 164,062 204,928 1,165,301 64,871 5,840 213,876 Erickson Park Play Area 1,393 150,069 85,557 4,998 - - - Evergreen Park Play Area 3,338 396,147 81,113 9,776 - - - Fernish Park Play Area 2,256 104,581 67,663 5,144 - - - Flickinger Youth Tot Lot - 5,898 603,491 40,970 - - -
Fontana/ Golden Oaks Youth - 33,606 191,244 47,669 - - - Forestdale Park Tot Lot Renovation - 2,076 216,688 46,672 - - - Gardner Community Center - 107,304 912,800 3,217,600 530,681 66,443 - Graystone Park Tot Lot 22,263 458,420 - 18,748 - - -
Great Oaks Park Tot Lot 20,837 208,156 24,850 148 - - - Guadalupe Oak Grove Restroom - - 17,729 113,517 - - -
Guadalupe River Trail - - 113,015 292,977 108,670 77,991 261,174 Guadalupe Gardens Soccer Facility - - - - - - -
Hamann Park Lot & Restroom 3,994 81,176 453,066 - - - - Happy Hollow PH II-Strategy - 58,983 33,772 - - - -
Happy Hollow PH I-Strategy - 964,516 195,051 - - 83,300 341,962 Happy Hollow Park and Zoo - - - 469,521 1,522,832 3,503,893 2,032,749 Hathaway Parking Lot & Restroom 3,517 58,818 389,825 564 - - - Hillview Park Play Area 2,181 51,069 450,089 5,881 - - - Houge Park Play Area & Restroom 1,597 498,826 20,302 - - - - Huerta Park Youth & Tot Lot Renovation 3,508 165,592 175,404 4,998 - - - Iris Chang Park Development - - - - - - -
Kirk Park Youth & Tot Lot - 2,908 310,160 44,635 - - -
La Colina Park Playground Renovation - - - - - - -
Lincoln Glen All Inclusive Playground - - - - - - -
Lone Hill Park Tot Lot 4,112 658,297 - 3,378 - - -
Los Alamitos/ Calero Creek Trail - - - - - 9,370 17,834 Los Gatos Creek Trail - 266,989 - 106,639 166,329 575,640 657,907 Los Paseos Park Youth Lot & Restroom 2,680 392,174 22,582 19,770 - - - Martin Park Youth & Tot Lot - 2,642 379,427 136,127 - - - Mayfair Community Center - - 9,074 83,080 81,195 501,466 670,149

CITY OF SAN JOSE

Meadowfair Center Play Area $ 2,388 $ 43,589 $ 130,493 $ 58,404 $ - $ - $ - Meadows Youth & Tot Lot - 3,638 213,918 151,233 - - -
Melody Park Youth Lot Renovation 3,477 57,530 134,898 15,998 - - - Mise Park Restroom Renovation - 92 76,955 195,255 - - - Morril Community Center- Multi-Service - - - 2,583,000 - 1,517,000 - Municipal Rose Garden - 36,653 261,204 1,571,390 1,540 - - Murdock Park Youth Lot Renovation 2,793 72,724 147,732 1,980 - - - Noble Park Play Area Renovation - 24 17,793 146,028 79,227 - - Northwood Youth & Tot Lot - 18,338 415,812 39,751 - - - Parkview II Play Area - - 63,325 258,710 3 - -
Parkview Park 1 Play Area - 4,262 118,064 144,909 - - - Parma Park Youth & Tot Lot 23,990 305,740 121,868 - - - - Paul Moore Park Restroom - - 19,092 256,286 - - -
Plato Arroyo Park Play Area - - 51,653 217,977 - - -
Playa Del Rey Park Play Area/Shade Structure 20,151 221,156 3,000 - - - - Public Art Designs - 52,870 12,617 313,208 192,365 528,515 272,495 Rainbow Park Play Area - 8,628 113,753 313,984 - - -
Ramblewood Play Area Renovation - 9,818 65,887 360,511 - - - River Glen Tot Lot/Park Improvements 5,036 392,339 36,995 230,724 - - - Roosevelt Community Center - Multi-Service - - - 20,716 1,433,573 1,956,073 3,652,486 Roy Avenue Play Area Renovation - 23,646 231,688 7,997 - - - Ryland Park Tot Lot & Restroom 3,520 99,368 502,646 19,967 - - - San Tomas Park - 45,623 664,597 23,734 - - -
Saratoga Creek Park - - 123,886 482,086 1 - -
Saratoga Creek Trail 5,170 7,470 308,672 175,851 1,150,914 516,678 50,683 Shady Oaks Park Play Area - 148,236 33,109 5,001 - - -
Silver Leaf Park Play Area 6,220 139,398 267,899 4,720 - - - Silvia Cassell Park Play Area - 4,484 87,277 168,687 - - - Soccer Complex 12,515 512,062 168,077 308,704 18,441 4,914 - Softball Complex - 53,191 387,976 73,823 309,175 65,621 1,638 Solari Park Play Area/Improvements 1,315 40,641 231,543 19,986 - - - Solari/Seven Trees Community Center - - - - - - 778,700 Southside Community Center - - 20,539 314,230 912,231 564,460 4 Stonegate Park Youth & Tot Lot - 20,864 413,971 53,304 - - - Trail: Yerba Buena Creek Pedestrian Bridge - - - - - - - Terrell Park Play Area - - 49,280 234,383 - - -
Thousand Oaks Play Area - 15,661 213,212 19,101 - - -
TJ Martin Park Play Area - - 42,931 225,026 - - -
Townsend Park Youth & Tot Lot - 6,143 352,813 75,635 - - - Turtle Rock Park Play Area - 37,406 195,706 4,998 - - - Vinci Park Play Area Renovation - 36,817 152,879 9,960 - - - Vista Park Youth Lot Renovation 24,968 37,977 47,884 9,998 - - - Wallenberg Park Play Area - - 34,836 399,275 3 - -
Waterford Park Improvements - - - - - - -
Watson Park Youth Lot Renovation - 23,829 244,378 67,908 - - - Welch Park Restroom Renovation/Improvements - 11,759 200,093 26,208 - - - William Street Restroom (Selma Olinder Park) - - 6,287 11,574 209,252 1 - Project Administration - 303,522 537,372 873,676 1,064,156 942,194 919,494 Intergovernmental
Debt service:
- - - - - - -
Arbitrage rebate payment - 293,000 - - - - -
Total expenditures 224,951 9,787,962 17,843,425 22,119,420 21,779,731 18,516,607 11,327,580 Excess (deficiency) of revenues
over (under) expenditures 8,315 (8,092,622) (14,567,873) (22,102,533) (20,045,532) (15,737,265) (6,182,214) Other Financing Sources:

Bond proceeds 40,000,000 - 46,715,000 - 46,000,000 45,400,000 22,100,000 Excess bond premium - - - - - - -
Sale proceeds - - - - - - -
Change in fund balance 40,008,315 (8,092,622) 32,147,127 (22,102,533) 25,954,468 29,662,735 15,917,786 Fund balance, beginning of period - 40,008,315 31,915,693 64,062,820 41,960,287 67,914,755 97,577,490 Fund balance, end of period $ 40,008,315 $ 31,915,693 $ 64,062,820 $ 41,960,287 $ 67,914,755 $ 97,577,490 $ 113,495,276 * From inception of the Parks Bond Fund through the fiscal year ended June 30, 2021, the Unrealized gain/(loss) on Investments account was consolidated with the Investment income account for financial reporting purposes. Beginning with the fiscal year ended June 30, 2022, the Unrealized gain/(loss) on Investments account is listed as a separate line item for financial reporting purposes. (Continued)

CITY OF SAN JOSE

Investment income $ 4,156,719 $ 2,449,454 $ 668,291 $ 201,318 $ 142,731 $ 91,974 $ 91,462 Unrealized gain/(loss) on Investments * - - - - - - -
Intergovernmental - - 426 964,000 1,420,112 - -
Intergovernmental from State - - - - - 651,975 -
Other 17,363 21,792 71,406 54,580 - - -
Total revenues 4,174,082 2,471,246 740,123 1,219,898 1,562,843 743,949 91,462 Expenditures:

Capital outlay:

Almaden Joint Facility - Community Center/Library 145,237 7,019 - - - - - Almaden Lake Park 1,098,191 455 - - - - -
Almaden Meadows Youth Lot - - - - - - -
Alviso Park Youth & Tot Lot - - - - - - -
Alum Rock Avenue and 31 Street Park Phase II - - - - - - - Backesto Youth & Tot Lot/ Restroom - - - - - - -
Bascom Community Center 471,551 3,195,549 5,684,973 1,295,996 1,000 - (1,250) Biebrach Park Play Lots & Restrooms - - - - - - -
Bramhall Park Restroom - - - - - - -
Brigadoon Tot Lot Renovation - - - - - - -
Butcher Park Youth/Tot Lot/Playlot Renovation - - - - - - - Cahalan Park Tot Lot - - - - - - -
Calabazas Park Restroom - - - - - - -
Camden Multi-Service Center 890,805 - - - - - -
Capital Park Tot Lot Renovation - - - - - - -
Cataldi Park Youth & Tot Lot - - - - - - -
Children of the Rainbow - - - - - - -
Cimarron Park Play Area Renovation - - - - - - -
Columbus Park Soccer Facility - - - - - - -
Coyote Creek Trail - Los Lagos Golf Course 438,794 859,733 111,539 - - - - Emma Prusch Memorial Park/All Inclusive Playground - - 34,200 3,800 - - - Emma Prusch Memorial Park - LeFevre House 12,909 33,733 21,170 8,602 - - - Erickson Park Play Area - - - - - - -
Evergreen Park Play Area - - - - - - -
Fernish Park Play Area - - - - - - -
Flickinger Youth Tot Lot - - - - - - -
Fontana/ Golden Oaks Youth - - - - - - -
Forestdale Park Tot Lot Renovation - - - - - - -
Gardner Community Center - - - - - - -
Graystone Park Tot Lot - - - - - - -
Great Oaks Park Tot Lot - - - - - - -
Guadalupe Oak Grove Restroom - - - - - - -
Guadalupe River Trail 277,905 461,777 872,004 406,430 6,993 - - Guadalupe Gardens Soccer Facility - - - - - - -
Hamann Park Lot & Restroom - - - - - - -
Happy Hollow PH II-Strategy - - - - - - -
Happy Hollow PH I-Strategy 47,263 60,017 12,949 - 4,454 - - Happy Hollow Park and Zoo 1,940,909 29,502,794 15,772,108 2,240,045 999,705 101,252 473,450 Hathaway Parking Lot & Restroom - - - - - - -
Hillview Park Play Area - - - - - - -
Houge Park Play Area & Restroom - - - - - - -
Huerta Park Youth & Tot Lot Renovation - - - - - - -
Iris Chang Park Development - - - - - - -
Kirk Park Youth & Tot Lot - - - - - - -
La Colina Park Playground Renovation - - - - - - -
Lincoln Glen All Inclusive Playground - - - - - - -
Lone Hill Park Tot Lot - - - - - - -
Los Alamitos/ Calero Creek Trail - - - - - - -
Los Gatos Creek Trail 305,851 29,289 - - - - -
Los Paseos Park Youth Lot & Restroom - - - - - - -
Martin Park Youth & Tot Lot - - - - - - -
Mayfair Community Center 8,612,287 1,713,164 61,953 37,233 - - - (Continued)

CITY OF SAN JOSE

Meadowfair Center Play Area $ - $ - $ - $ - $ - $ - $ - Meadows Youth & Tot Lot - - - - - - -
Melody Park Youth Lot Renovation - - - - - - -
Mise Park Restroom Renovation - - - - - - -
Morril Community Center- Multi-Service - - - - - - -
Municipal Rose Garden - - - - - - -
Murdock Park Youth Lot Renovation - - - - - - -
Noble Park Play Area Renovation - - - - - - -
Northwood Youth & Tot Lot - - - - - - -
Parkview II Play Area - - - - - - -
Parkview Park 1 Play Area - - - - - - -
Parma Park Youth & Tot Lot - - - - - - -
Paul Moore Park Restroom - - - - - - -
Plato Arroyo Park Play Area - - - - - - -
Playa Del Rey Park Play Area/Shade Structure - - - - - - - Public Art Designs 446,901 951,544 610,753 294,290 46,074 3,390 20,273 Rainbow Park Play Area - - - - - - -
Ramblewood Play Area Renovation - - - - - - -
River Glen Tot Lot/Park Improvements - - - - - - -
Roosevelt Community Center - Multi-Service 11,944,700 1,173,482 63,034 - - - - Roy Avenue Play Area Renovation - - - - - - -
Ryland Park Tot Lot & Restroom - - - - - - -
San Tomas Park - - - - - - -
Saratoga Creek Park - - - - - - -
Saratoga Creek Trail 5,782 - - - - - -
Shady Oaks Park Play Area - - - - - - -
Silver Leaf Park Play Area - - - - - - -
Silvia Cassell Park Play Area - - - - - - -
Soccer Complex - - 167,400 401,526 225,943 691,344 685,334 Softball Complex - - - 17,526 401 - 52,683
Solari Park Play Area/Improvements - - - - - - -
Solari/Seven Trees Community Center 1,394,917 9,418,481 8,003,063 836,607 137,936 - - Southside Community Center - - - - - - -
Stonegate Park Youth & Tot Lot - - - - - - -
Trail: Yerba Buena Creek Pedestrian Bridge - - - - - - - Terrell Park Play Area - - - - - - -
Thousand Oaks Play Area - - - - - - -
TJ Martin Park Play Area - - - - - - -
Townsend Park Youth & Tot Lot - - - - - - -
Turtle Rock Park Play Area - - - - - - -
Vinci Park Play Area Renovation - - - - - - -
Vista Park Youth Lot Renovation - - - - - - -
Wallenberg Park Play Area - - - - - - -
Waterford Park Improvements - - - - - - -
Watson Park Youth Lot Renovation - - - - - - -
Welch Park Restroom Renovation/Neighborhood Center Improv - - - - - - - William Street Restroom (Selma Olinder Park) - - - - - - - Project Administration 665,643 742,893 720,803 476,282 306,224 268,241 256,749 Intergovernmental
Debt service:
- - - - - 1,339,000 -
Arbitrage rebate payment 274,000 - - - - - -
Total expenditures 28,973,645 48,149,930 32,135,949 6,018,337 1,728,730 2,403,227 1,487,239 Excess (deficiency) of revenues
over (under) expenditures (24,799,563) (45,678,684) (31,395,826) (4,798,439) (165,887) (1,659,278) (1,395,777) Other Financing Sources:

Change in fund balance 3,015,437 (45,678,684) (31,395,826) (4,798,439) (165,887) (1,659,278) (1,395,777) Fund balance, beginning of period 113,495,276 116,510,713 70,832,029 39,436,203 34,637,764 34,471,877 32,812,599 Fund balance, end of period $ 116,510,713 $ 70,832,029 $ 39,436,203 $ 34,637,764 $ 34,471,877 $ 32,812,599 $ 31,416,822 * From inception of the Parks Bond Fund through the fiscal year ended June 30, 2021, the Unrealized gain/(loss) on Investments account was consolidated with the Investment income account for financial reporting purposes. Beginning with the fiscal year ended June 30, 2022, the Unrealized gain/(loss) on Investments account is listed as a separate line item for financial reporting purposes. (Continued)
Bond proceeds 27,815,000 - - - - - -
Excess bond premium - - - - - - -
Sale proceeds - - - - - - -

CITY OF SAN JOSE

Investment income
Unrealized gain/(loss) on Investments *
Intergovernmental
Intergovernmental from State
Other
Total revenues
Expenditures:

Capital outlay:

Almaden Joint Facility - Community Center/Library
Almaden Lake Park
Almaden Meadows Youth Lot
Alviso Park Youth & Tot Lot
Alum Rock Avenue and 31 Street Park Phase II
Backesto Youth & Tot Lot/ Restroom
Bascom Community Center
Biebrach Park Play Lots & Restrooms
Bramhall Park Restroom
Brigadoon Tot Lot Renovation
Butcher Park Youth/Tot Lot/Playlot Renovation
Cahalan Park Tot Lot
Calabazas Park Restroom
Camden Multi-Service Center
Capital Park Tot Lot Renovation
Cataldi Park Youth & Tot Lot
Children of the Rainbow
Cimarron Park Play Area Renovation
Columbus Park Soccer Facility
Coyote Creek Trail - Los Lagos Golf Course
Emma Prusch Memorial Park/All Inclusive Playground
Emma Prusch Memorial Park - LeFevre House
Erickson Park Play Area
Evergreen Park Play Area
Fernish Park Play Area
Flickinger Youth Tot Lot
Fontana/ Golden Oaks Youth
Forestdale Park Tot Lot Renovation
Gardner Community Center
Graystone Park Tot Lot
Great Oaks Park Tot Lot
Guadalupe Oak Grove Restroom
Guadalupe River Trail
Guadalupe Gardens Soccer Facility
Hamann Park Lot & Restroom
Happy Hollow PH II-Strategy
Happy Hollow PH I-Strategy
Happy Hollow Park and Zoo
Hathaway Parking Lot & Restroom
Hillview Park Play Area
Houge Park Play Area & Restroom
Huerta Park Youth & Tot Lot Renovation
Iris Chang Park Development
Kirk Park Youth & Tot Lot
La Colina Park Playground Renovation
Lincoln Glen All Inclusive Playground
Lone Hill Park Tot Lot
Los Alamitos/ Calero Creek Trail
Los Gatos Creek Trail
Los Paseos Park Youth Lot & Restroom
Martin Park Youth & Tot Lot
Mayfair Community Center
2015 2016 2017 2018 2019 2020 2021 2022 Total
$ 79,660 $ 120,539 $ 185,756 $ 384,242 $ 546,397 $ 477,507 $ 159,524 $ 48,704 $ 24,628,526 - - - - - - - (69,014) (69,014)
- - - - - - - - 2,384,538
- - - - - - - - 651,975
- - - - - - - - 220,845
79,660 120,539 185,756 384,242 546,397 477,507 159,524 (20,310) 27,816,870 - - - - - - - - 16,407,615
- - - - - - - - 3,013,318
- - - - - - - - 371,178
- - - - - - - - 513,737
- - - - 871,089 126,525 2,387 - 1,000,001
- - - - - - - - 639,294
- - - - - - - - 11,771,335
- - - - - - - - 626,674
- - - - - - - - 179,840
- - - - - - - - 234,593
- - - - 35,201 47,366 217,000 - 753,385
- - - - - - - - 632,818
- - - - - - - - 291,101
- - - - - - - - 9,896,199
- - - - - - - - 360,292
- - - - - - - - 396,424
- - - - - - - - 199,620
- - - - - - - - 264,728
- - - - - 34,300 208,020 334,781 577,101
- - - - - - 162,000 - 2,149,672
- - - - 4,139 193,974 139,887 - 2,374,579
- - - - - - - - 1,899,241
- - - - - - - - 242,017
- - - - - - - - 490,374
- - - - - - - - 179,644
- - - - - - - - 650,359
- - - - - - - - 272,519
- - - - - - - - 265,436
- - - - - - - - 4,834,828
- - - - - - - - 499,431
- - - - - - - - 253,991
- - - - - - - - 131,246
- - - - - - - - 2,878,936
- - - 20,733 - - - - 20,733
- - - - - - - - 538,236
- - - - - - - - 92,755
- - - - - - - - 1,709,512
19,582 - - - - - - - 58,578,840
- - - - 4,198 575,881 269,716 - 1,302,519
- - - - - - - - 509,220
- - - - - - - - 520,725
- - - - - - - - 349,502
- - - - 548,971 179,029 - - 728,000
- - - - - - - - 357,703
- - - - - 233,613 66,387 - 300,000
- - - - - 65,000 - - 65,000
- - - - - - - - 665,787
- - - - - - - - 27,204
- - - - - - - - 2,108,644
- - - - - - - - 437,206
- - - - - - - - 518,196
- - - - - - - - 11,769,601
(Continued)

CITY OF SAN JOSE

PARKS AND RECREATION BOND PROJECTS FUND
(A Fund of the City of San José)
Statements of Revenues, Expenditures, and Change in Fund Balance by Fiscal Year For the Period June 6, 2001 through June 30, 2022
16 Debt service:
* From inception of the Parks Bond Fund through the fiscal year ended June 30, 2021, the Unrealized gain/(loss) on Investments account was consolidated with the Investment income account for financial reporting purposes. Beginning with the fiscal year ended June 30, 2022, the Unrealized gain/(loss) on Investments account is listed as a separate line item for financial reporting purposes. (Concluded)
2015 2016 2017 2018 2019 2020 2021 2022 Total
Expenditures:

Meadowfair Center Play Area $ - $ - $ - $ - $ - $ - $ - $ - $ 234,874 Meadows Youth & Tot Lot - - - - - - - - 368,789
Melody Park Youth Lot Renovation - - - - - - - - 211,903 Mise Park Restroom Renovation - - - - - - - - 272,302
Morril Community Center- Multi-Service - - - - - - - - 4,100,000 Municipal Rose Garden - - - - - - - - 1,870,787
Murdock Park Youth Lot Renovation - - - - - - - - 225,229 Noble Park Play Area Renovation - - - - - - - - 243,072 Northwood Youth & Tot Lot - - - - - - - - 473,901
Parkview II Play Area - - - - - - - - 322,038
Parkview Park 1 Play Area - - - - - - - - 267,235
Parma Park Youth & Tot Lot - - - - - - - - 451,598
Paul Moore Park Restroom - - - - - - - - 275,378
Plato Arroyo Park Play Area - - - - - - - - 269,630
Playa Del Rey Park Play Area/Shade Structure - - - - - 100,000 - - 344,307 Public Art Designs 82,436 12,108 69,416 - - - - - 3,909,255 Rainbow Park Play Area - - - - - - - - 436,365
Ramblewood Play Area Renovation - - - - - - - - 436,216 River Glen Tot Lot/Park Improvements - - - - 11,384 124,000 - - 800,478 Roosevelt Community Center - Multi-Service - - - - - - - - 20,244,064 Roy Avenue Play Area Renovation - - - - - - - - 263,331 Ryland Park Tot Lot & Restroom - - - - - - - - 625,501
San Tomas Park - - - - - - - - 733,954
Saratoga Creek Park - - - - - - - - 605,973
Saratoga Creek Trail - - - - - - - - 2,221,220
Shady Oaks Park Play Area - - - - - - - - 186,346
Silver Leaf Park Play Area - - - - - - - - 418,237
Silvia Cassell Park Play Area - - - - - - - - 260,448
Soccer Complex 918,202 189,231 223,175 24,550 - - - - 4,551,418 Softball Complex 5,368 472,254 161,912 3,989,068 7,122,304 1,392,785 - - 14,105,725 Solari Park Play Area/Improvements - - - - - 37,761 113,061 - 444,307 Solari/Seven Trees Community Center (38,370) - - - 150,000 - - - 20,681,334 Southside Community Center - - - - - - - - 1,811,464
Stonegate Park Youth & Tot Lot - - - - - - - - 488,139
Trail: Yerba Buena Creek Pedestrian Bridge - - - - 8,523 135,122 - - 143,645 Terrell Park Play Area - - - - - - - - 283,663
Thousand Oaks Play Area - - - - - - - - 247,974
TJ Martin Park Play Area - - - - - - - - 267,957
Townsend Park Youth & Tot Lot - - - - - - - - 434,591
Turtle Rock Park Play Area - - - - - - - - 238,110
Vinci Park Play Area Renovation - - - - - - - - 199,656 Vista Park Youth Lot Renovation - - - - - - - - 120,827 Wallenberg Park Play Area - - - - - - - - 434,114
Waterford Park Improvements - - - - 100,000 173 - - 100,173 Watson Park Youth Lot Renovation - - - - - - - - 336,115 Welch Park Restroom Renovation/Neighborhood Center Improv - - - - 3,326 58,938 137,735 - 438,059 William Street Restroom (Selma Olinder Park) - - - - - - - - 227,114 Project Administration 293,610 182,196 149,638 124,049 - - - - 8,826,742 Intergovernmental - - - - - - 384 - 1,339,384
Arbitrage rebate payment - - - - - - - - 567,000
Total expenditures 1,280,828 855,789 604,141 4,158,400 8,859,135 3,304,467 1,316,577 334,781 243,210,851 Excess (deficiency) of revenues
over (under) expenditures (1,201,168) (735,250) (418,385) (3,774,158) (8,312,738) (2,826,960) (1,157,053) (355,091) (215,393,981) Other Financing Sources:

Bond proceeds - - - - - - - - 228,030,000
Excess bond premium - - - - - - 7,189 - 7,189
Sale proceeds - - - - 4,722,000 422 - - 4,722,422
Change in fund balance (1,201,168) (735,250) (418,385) (3,774,158) (3,590,738) (2,826,538) (1,149,864) (355,091) 17,365,630 Fund balance, beginning of period 31,416,822 30,215,654 29,480,404 29,062,019 25,287,861 21,697,123 18,870,585 17,720,721 - Fund balance, end of period $ 30,215,654 $ 29,480,404 $ 29,062,019 $ 25,287,861 $ 21,697,123 $ 18,870,585 $ 17,720,721 $ 17,365,630 $ 17,365,630 Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards City Council and
Members of the Parks and Recreation Commission
City of San José, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the Parks and Recreation Bond Projects Fund (Fund), a fund of the City of San José (City), as of and for the year ended June 30, 2022, and the related notes to the financial statements, and have issued our report thereon dated October 27, 2022.

Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control over the Fund’s financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control.

Accordingly, we do not express an opinion on the effectiveness of the City’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Fund’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Macias Gini & O’Connell LLP
2121 N. California Boulevard, Suite 750
Walnut Creek, CA 94596 17 www.mgocpa.com
18 Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

Walnut Creek, California
October 27, 2022
19 Independent Accountant’s Report on Compliance with Measure P City Council and
Members of the Parks and Recreation Commission
City of San José, California
We have examined the City of San José’s (City) compliance with certain provisions of Measure P for the year ended June 30, 2022 as follows:
 Bond proceeds were used for installing lighting, reconstructing deteriorating playgrounds and restrooms; preserving open space; constructing trails; constructing new recreational sports facilities; improving Community and Senior Centers; and constructing improvements to regional parks, such as Happy Hollow.
 Bond proceeds were not used for parks administrators’ salaries.  Annual audits were performed.
 A citizen’s oversight committee was established.

Management is responsible for the City’s compliance with those requirements. Our responsibility is to express an opinion on the City’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the City complied with the specified requirements, in all material respects, with the specified requirements referenced above. An examination involves performing procedures to obtain evidence about the City’s compliance with the specified requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance with the specified requirements, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement.

Our examination does not provide a legal determination on the City’s compliance with the specified requirements.

In our opinion, the City complied, in all material respects, with the aforementioned requirements for the year ended June 30, 2022.

Walnut Creek, California
October 27, 2022
Macias Gini & O’Connell LLP
2121 N. California Boulevard, Suite 750
Walnut Creek, CA 94596 www.mgocpa.com
Attachment C
Project Costs and Schedule for Flood Projects
Project Name
Original
Budget
FY 22-27
Adopted
Budget
Prior Year Estimated
Project Completion
Date
Current Year
Estimated Project
Completion Date
Administrative Cost 368,000 247,000 On-Going On-Going
Alum Rock Park – Falls Road Reconstruction 1,917,000 - Completed Completed Alum Rock Park - Mineral Springs Bridge Embankment 595,000 787,000 September 30, 2021 September 30, 2023 Alum Rock Park - Mineral Springs Restrooms 247,000 - December 30, 2021 Completed Alum Rock Park - Service Road Repairs and Reconstruction 3,317,000 2,087,000 March 30, 2022 *4/6/2023 Alum Rock Park - Trestle Repair 2,162,000 100,000 August 16, 2021 Alum Rock Park - Visitors Center 244,000 141,000 October 25, 2021 June 23, 2023 Century Oaks Parks Curie Drive 239,000 -
Debris Removal 115,000 - Completed Completed
Family Camp Playground Shade Structure and Retaining Wall 683,000 1,854,000 April 30, 2021 *12/31/2023 Happy Hollow Park And Zoo – Lower Restrooms, Commissary & Office 734,000 - Completed Completed Happy Hollow Park And Zoo – Night House, Breakroom & Storage Sheds 1,109,000 - Completed Completed Japanese Friendship Garden – Koi Pond and Koi Pump House 1,651,000 2,651,000 September 30, 2021 *8/30/2024 Japanese Friendship Garden – Public Restroom 1,097,000 - Completed Completed Japanese Friendship Garden – Tea House 2,358,000 - December 7, 2020 Completed Kelley Park Outfall 1,228,000 1,112,000 March 30, 2022 *9/2/2023 Martin Park (Booster Bump) and Martin Park Resilent Surfacing 144,000 - Completed Completed Rocksprings Park Resilent Surfacing 15,000 - Completed Completed Selma Olinder Community Center, Selma Olinder Park Resilent Surfacing, and Selma Olinder Theatre 855,000 - Completed Completed Sierra Road Reconstruction 1,860,042 - Completed Completed Watson Park Lighting, Future Mitigation, Irrigation, Electrical Repair, Turf Soccer Fields 6,348,000 - Completed Completed
*Sent CalOES a letter requesting a time extension on project, now waiting for reply. 11/10/2022 2:40 PM

Neighborhood Services and Education Committee (nse)February 9, 2023

Neighborhood Services and Education Committee (nse)
February 9, 2023