CITY OF SAN LEANDRO
CALIFORNIA
CITY OF SAN LEANDRO, CALIFORNIA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED
JUNE 30, 2022
PREPARED BY:
City of San Leandro – Finance Department
CITY OF SAN LEANDRO
Annual Comprehensive Financial Report
For the Year Ended June 30, 2022
Table of Contents
INTRODUCTORY SECTION
Table of Contents ........................................................................................................................................... i Letter of Transmittal ..................................................................................................................................... v Organizational Chart .................................................................................................................................... xi Principal Officers ........................................................................................................................................ xii Location Map ............................................................................................................................................. xiii Government Finance Officers Association (GFOA) Award ...................................................................... xiv
FINANCIAL SECTION
Independent Auditors’ Report .................................................................................................................................... 1 Management’s Discussion and Analysis ................................................................................................... 5 Basic Financial Statements:
Government-Wide Financial Statements:
Statement of Net Position ................................................................................................. 23 Statement of Activities and Changes in Net Position ....................................................... 24 Fund Financial Statements:
Government Funds Financial Statements:
Balance Sheet .................................................................................................................... 30 Reconciliation of the Governmental Funds Balance Sheet with the Statement of Net Position .................................................................................................. 31 Statement of Revenues, Expenditures and Changes in Fund Balances ............................ 32 Reconciliation of the Net Change in Fund Balances – Total Governmental Funds with the Statement of Activities ........................................................................................ 33 Proprietary Funds Financial Statements:
Statement of Net Position ................................................................................................. 36 Statement of Revenues, Expenses and Changes in Fund Net Position ............................. 37 Statement of Cash Flows .................................................................................................. 38 Fiduciary Fund Financial Statement:
Statement of Fiduciary Net Position ................................................................................. 40 Statement of Changes in Fiduciary Net Position .............................................................. 41 i
CITY OF SAN LEANDRO
Annual Comprehensive Financial Report
For the Year Ended June 30, 2022
Table of Contents
FINANCIAL SECTION (Continued)
Index to Notes to Basic Financial Statements .................................................................................. 43 Notes to Basic Financial Statements ................................................................................................ 45 Required Supplementary Information:
Schedule of Changes in the Net Pension Liability and Related Ratios ............................. 94 Schedule of Contributions – Miscellaneous Plan ............................................................. 96 Schedule of the Plan’s Proportionate Share of the Net Pension Liability and Related Ratios as of the Measurement Date ................................................................... 98 Schedule of Contributions – Safety Plan ........................................................................ 100 Schedule of Changes in the Net OPEB Liability and Related Ratios ............................. 102 Schedule of Contributions – OPEB Plan ........................................................................ 104 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – General Fund .................................................................................................. 105 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – Measure BB Special Revenue Fund ............................................................... 106 Notes to Required Supplementary Information .............................................................. 107 Supplementary Information:
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – Capital Improvement Capital Projects Fund .................................................. 110 Non-Major Governmental Funds:
Combining Balance Sheet ............................................................................................... 114 Combining Statement of Revenue, Expenditures and Changes in Fund Balances ......... 118 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – Non-Major Governmental Funds ................................................................... 122 Non-Major Enterprise Funds:
Combining Statement of Net Position ............................................................................ 146 Combining Statement of Revenues, Expenses, and Changes in Net Position ................ 147 Combining Statement of Cash Flows ............................................................................. 148 ii
CITY OF SAN LEANDRO
Annual Comprehensive Financial Report
For the Year Ended June 30, 2022
Table of Contents
FINANCIAL SECTION (Continued)
Internal Service Funds:
Combining Statement of Net Position ............................................................................ 150 Combining Statement of Revenues, Expenses and Changes in Fund Net Position ........ 151 Combining Statement of Cash Flows ............................................................................. 152
STATISTICAL SECTION
Net Position by Component – Last Ten Fiscal Years ............................................................................... 157 Changes in Net Position – Last Ten Fiscal Years ..................................................................................... 158 Program Revenues by Function/Program – Last Ten Fiscal Years .......................................................... 159 Fund Balance of Governmental Funds – Last Ten Fiscal Years ............................................................... 160 General Governmental Revenues by Source – Last Ten Fiscal Years ...................................................... 161 Changes in Fund Balance of Governmental Funds – Last Ten Years ...................................................... 162 Direct and Overlapping Property Tax Rates – Last Ten Fiscal Years ...................................................... 165 Assessed Value of Taxable Property – Last Ten Fiscal Years .................................................................. 166 Net Assessed Value of Property by Use Code, Citywide – Last Three Fiscal Years ............................... 167 Principal Property Tax Payers – Current Fiscal Year and Nine Years Ago ............................................. 168 Property Tax Levies and Collections – Last Ten Fiscal Years ................................................................. 169 Historical Sales Tax Amount by Benchmark Year – Last Nine Fiscal Years at Quarter 1 (Q1) .............. 170 Principal Sales Tax Produces – Last Fiscal Year and Nine Years Ago .................................................... 171 Sewer Rates – Last Ten Fiscal Years ........................................................................................................ 172 Number of Permits and Valuation of Taxable Transactions – Last Ten Calendar Years ......................... 173 Direct and Overlapping Debt – As of June 30, 2022 ................................................................................ 177 Pledged-Revenue Coverage – Last Ten Fiscal Years ............................................................................... 178 Computation of Legal Debt Margin – Last Ten Fiscal Years ................................................................... 179 Ratios of General Bonded Debt Outstanding ............................................................................................ 180 Ratios of Outstanding Debt by Type – Last Ten Fiscal Years .................................................................. 181 Demographic and Economic Statistics – Last Ten Fiscal Years ............................................................... 185 Principals Employers – Current Year and Eight Years Ago ..................................................................... 186 Full-Time and Part-Time City Employees by Function – Last Ten Fiscal Years ..................................... 189 Operating Indicators by Function – Last Ten Fiscal Years ....................................................................... 190 Capital Asset Statistics by Function – Last Ten Fiscal Years ................................................................... 191 iii
February 27, 2023
To the Honorable Mayor and Members of the City Council and Residents of the City of San Leandro:
I am pleased to submit the Annual Comprehensive Financial Report (ACFR) for the City of San Leandro for the fiscal year ended June 30, 2022. Section 555 of the City Charter requires an annual ACFR is published to fulfill this requirement for the
fiscal year ending June 30, 2022.
Responsibility for both the accuracy of the data and completeness and fairness of the presentation, including all disclosures, rests with the City. To the best of our knowledge and belief, the enclosed information is accurate in all material respects and is reported in a manner designed to fairly present ons of all funds. All disclosures necessary to
s concerning the finances of the City. To provide
a reasonable basis for making these representations, management established a comprehensive internal control framework designed to both
sufficient reliable
Generally Accepted Accounting Principles (GAAP), and complied with applicable laws and regulations.
The City contracted with Maze & Associates, a public accounting firm licensed to perform local government audits in California, to complete the annual audit. Maze concluded that the financial statements present fairly the respective financial position of the government activities, the businesstype activities, each major fund, and the aggregate remaining fund information of the City, and the respective changes in financial position, and where applicable, cash flows for the year ended June 30, 2022, in accordance with GAAP. This is a favorable conclusion and is commonly referred to as an unmodified opinion.
GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statement in the form of the Ma (MD&A). The MD&A complements this transmittal letter and should be read in conjunction with it.
The audit involved examining on test basis evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation.
In addition to the ACFR, the City prepares a mandated Single Audit designed to meet requirements related to major program expenditures of Federal funds. The standards governing Single Audit engagements require the independent auditor to re
and compliance with legal requirements, emphasizing administration of Federal awards. These reports tely issued Single Audit Report.
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CITY PROFILE
The City was incorporated in 1872 and is one of the older communities in the San Francisco Bay Area.
The City occupies fifteen square miles between the cities of Oakland and Hayward and is bordered on the east by the unincorporated community of Castro Valley and the west by the San Francisco Bay.
San Leandro offers its 91,000 residents the charm and character of a community that has been established for 150 years. Once an agricultural community, the City has been successful in attracting significant residential, industrial, manufacturing, and retail development.
City Structure
The City functions under a council-manager form of government and is governed by a seven-member council elected by City residents. Municipal services include public safety, streets and roads, recreation and cultural services, library, health services, public infrastructure improvements, planning and zoning, and general administrative services. The scope of the City Coun d influence includes the following:
Authority to set policy and enact legislation that facilitates those policies, Authority to establish and modify operating and capital budgets, Power to appoint voting members to other governing authorities, Power to appoint the City Manager and City Attorney, and Authority to veto, modify, and overrule decisions previously enacted.
Component Units
nt units include operations of the San Leandro Parking Authority and the San Leandro Public Financing Authority. As of June 30, 2022, there were no discrete reportable component units.
The ACFR for the year ending June 30, 2022, provides a financial account of these units, organizational elements, and the City functions for which the City Council provides policy direction and general oversight. It presents financial information on the activities of the City itself and the component units of the City upon which the City Council is authorized to impose its will. The mponent units determines how they are reported in the financial statements. The activities of component units that provide financial benefit or create financial burden
ECONOMIC CONDITION OF THE CITY
The City has a diverse business community, which is comprised of varied businesses ranging from neighborhood coffee houses and fine restaurants, large food processing centers, regional shopping opportunities, to cutting edge technology. While the economic base has dramatically changed from its agricultural early years, San Leandro continues to expand on its sound business base with the ongoing development of such projects as a multi-family housing development, high-rise offices, and the continuing revitalization of downtown.
in June 2021 predicted a positive future for San Leandro. The past 12-months revenue/expenditure experience affirms the confidence for exiting the pandemicperiod. vi
With the rollout of vaccines and the stimulus funds provided by the Federal government, we hope life will begin to return to normal. Fortunately, the economic outlook for San Leandro is expected to be positive in the upcoming biennial period.
The budget for 2021-22 and 2022-23 envisions both the community and the City organization moving steadily out of the COVID-19 environment. The proposed budget projects a stable revenue platform and describes a work program and expenditure plan supporting continued delivery of all regular City programs, services, and planned projects for the community. The budget also proposes enhancing services in key program areas related to human services, police oversight, economic development, resiliency, and capital projects. The economic outlook for San Leandro is expected to be positive in the upcoming years. Due to low housing inventory, home prices have remained stable. The median home price is $867,000, unchanged from the prior year 3%. This unemployment rate is a significant improvement since the shutdown of economic activities during the pandemic.
The City saw strong growth in sales tax revenue even during the pandemic, growth that continued into 2021-22. Sales tax revenue increased by 10% during 2021-22, with the increase significantly funding needed services and programs. Real property transfer tax revenue increased by $5.4 million in 2021-
22. A portion of the variance stems from the voter approved tax rate increase impacting a full year for the first time.
susceptible to economic cycles. Staff continues
monitoring revenues closely to evaluate the impact from higher inflation, supply chain shortages, lagging consumer confidence, and other key market conditions. nd supports basic municipal services, such as public safety, human services, library and parks and recreation. Revenue to this critical fund, generated largely from sales and property taxes, has grown to higher levels due to recent voter-approved tax measures.
City operations are also supported by other funds, including major and non-major enterprise (proprietary) funds. Major enterprise funds include the Water Pollution Control Plant and Shoreline Enterprise Funds. The Water Pollution Control Plant Enterprise Fund was established to account for that protects public health and preserve water quality through collection, ater. Program revenues to this fund in 2021-22
totaled $16.0 million, little changes from the prior fiscal year. The Shoreline Enterprise Fund was established by combining the Marina and the Golf Course Funds. Program revenues to this fund in 2021-22 totaled $6.3 million, a small decrease from the prior fiscal.
While revenue growth is expected to be steady in the short term, the City is mindful of obligations related to unfunded pension and retiree healthcare liabilities, deferred maintenance, and facility and equipment replacement costs. The City continues to implement strategies to control costs and identify viable revenue options. The City is also committed to funding its unfunded pension and other postemployment benefits (OPEB) liabilities. Authorized by the City Council, the City continues to set aside funds in the Prioritization Unfunded Liability Liquidation (PULL) Plan to reduce its unfunded liabilities. In June 2021, the City Council authorized the establishment of a Section 115 Pension Trust to buy down the Ci ility. A $6.5 million contribution was transferred to the vii
trust account in fiscal year 2021-22. At the end of fiscal year 2021-22, th funded, a healthy funded status.
Long-term Perspective
The City adopts a biennial budget employing long-term planning as the framework for fiscal decisions. omy is viewed as positive in
challenges, notably in the General Fund, must be dealt with now to ensure long-term fiscal sustainability. Passage of ballot Measure Z in November 2010, Measure HH in 2014, and Measures OO, PP, NN in 2016, and Measure VV in 2020 have improved revenues enough to restore and maintain services. The City has also implemented strategies to control costs.
City Council unrestricted reserves total $78.1 million in the General Fund on June 30, 2022. The restricted reserves total $23.3 million.
MAJOR INITIATIVES AND ACCOMPLISHMENTS
The City is committed to providing innovative and responsive services to the community. In its role of providing policy direction and general oversight, the City Council establishes major goals for City service delivery. The City initiated and completed a list of major programs/projects during 2021-22 that helped achieve the Ci d enhancing the quality of life in San Leandro. Some of these major initiatives and accomplishments include:
Street Rehabilitation and Sealing e Annual Street Overlay Pavement Rehabilitation Project.
Fairmont Boulevard Class IV The City completed the Fairmont Boulevard Class IV Protected Bike Lanes Project.
Facility and Park Improvement Plan
for facility and park improvements focusing on reducing energy and water consumption, extending asset useful life, and improving functionality of spaces for staff and the public.
Trees Master Plan ng an online tree inventory, tracking changes in the urban tree canopy, and managing tree trimming, removal and replacement of existing City trees.
Monarch Bay Shoreline Development partnership with the
developer includes up to 500 new housing units, hotel, restaurants, small retail space, new open space and an extension of the San Francisco Bay Trail. The City approved project entitlements.
The City approved plans and construction started for mixed-use project bringing 197 multi-family housing units and a new grocery store to downtown.
Bay Fair TOD Specific Plan Housing titlements for the first project approved pursuant to the Bay Fair TOD Specific Plan with 497 units, 50% affordable and 50% market rate.
viii
Civilian Police Oversight Board
board and independent police auditor program.
Library Facility Grant
grant program of $4.5 million for library facility upgrades, facilitating Mulford-Marina Branch replacement and other library facility HVAC and lighting upgrades.
Farrelly Pool Re-Opening ning of historic Farrelly Pool following reconstruction and major upgrade.
FINANCIAL INFORMATION
City Budget & Budgetary Controls
The City Council is required to adopt a final budget by passing a budget resolution no later than June 30, following a public hearing process. This annual budget serves as the foundation fo financial planning and control. The budget is prepared by fund, function (Public Safety), and department (Police). The legal level of budgetary control is at the fund level. The City Manager is authorized to transfer budgeted amounts between departments and line items within any fund. Any revisions that alter the net balance of any fund must be approved by the City Council. Transfers between funds must be approved by the City Council. At the end of the fiscal year, encumbered appropriations are carried forward and become part of the following year appropriations that have not been encumbered lapse, unless otherwise authorized by the City Council and the City Manager.
Accounting System
r general government operations are maintained on a modified accrual basis, with revenues recorded when measurable and available. Expenditures are recorded when the services or goods are received and the liabilities incurred. Accounting records for the e full accrual basis, with revenues recorded when
earned and expenses when incurred.
accounting system, consideration is given to the adequacy of internal controls. Internal controls are designed to provide reasonable assurance regarding the safeguarding of assets and to ensure the reliability of financial records and maintaining accountability for assets. The concept of reasonable assurance recognizes that the cost of control should not exceed the benefits likely to be derived. The evaluation of costs and benefits requires continuing estimates and judgments by City management. The accounting controls continues to adequately safeguard assets and provide reasonable assurance that financial transactions are properly recorded.
Risk Management
The City maintains commercial insurance combined with self-insurance for all its governmental operations. The City is a member of the Local Ag
Authority (LAWCX). The City is also a member of California Joint Powers Risk Management Authority (CJPRMA), providing general liability coverage in an aggregate up to $40 million. risk management activity can be found in Note 11 to the basic financial statements.
ix
OTHER INFORMATION
Certificate of Achievement
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City for its ACFR for the year ended June 30, 2022. The City received this award for 25 City did not apply one year due to staff changes.
The City is planning to apply for the award for the fiscal year 2021-22 ACFR.
To be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized ACFR. This report must satisfy both generally accepted accounting principles and applicable legal requirements. The current ACFR continues to meet the Certificate of nt will submit it to the GFOA for the current
award.
Acknowledgements
This ACFR represents the culmination of numerous hours of hard work expended by the dedicated staff in the Finance Department. Special thanks are extended to Accountants Tyler Hammond and Sarah Gustafson for their commitment and diligence in the preparation of this document.
Furthermore, I would like to thank Maze & Associates for their professional assistance and cooperation. Finally, I want to thank the City Council for their continued interest and support in planning and conducting th eir commitment to placing San Leandro on a firm foundation for long-term fiscal sustainability.
Respectfully submitted,
T. Michael Yuen
Finance Director
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________________________________
Library
Historical
Commission
City Council
Residents of
San Leandro
Senior
Commission
Arts
Commission
This organizational chart reflects relationships between policy-making responsibility (Mayor, City Council, and Advisory Boards and Commissions) and administrative officers and departments.
Human
Services
Commission
Recreation
and Parks
Commission
Youth
Advisory
Commission
City Manager's
Office Finance Library
Services
City Manager
Alameda County
Fire Department
Engineering
and
Transportation
City Attorney
Public Works
Recreation
and Human
Services
Police Community
Development
Board of Zoning
Adjustments/
Personnel
Relations
Board Planning
Commission
Rent Review
Board
xi
PRINCIPAL OFFICERS
CITY OF SAN LEANDRO
For Fiscal Year Ended June 30, 2022
CITY COUNCIL
Mayor Pauline Russo Cutter
Vice Mayor Victor Aguilar, Jr.
Councilmember Bryan Azevedo
Councilmember Pete Ballew
Councilmember Deborah Cox
Councilmember Corina Lopez
Councilmember Fred Simon
COUNCIL APPOINTEES
City Manager Fran Robustelli
City Attorney Richard Pio Roda
APPOINTED OFFICIALS
City Clerk Kelly Clancy
Police Chief Abdul Pridgen
Community Development Director Tom Liao
Finance Director Michael Yuen
Recreation & Human Services Director Jeanette Dong
Engineering – Transportation Director Sheila Marquises
Public Works Director Debbie Pollart
Library Director Brian Simons
xii
SAN LEANDRO
S a n
F r a n c i s c o
B a y
Oakland
Alameda
San Jose
Berkeley
Walnut Creek
San Francisco
±
5 2.5 0 5
Miles
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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of San Leandro
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2021
Executive Director/CEO
xiv
INDEPENDENT AUDITOR’S REPORT
To the Honorable Members of City Council
City of San Leandro, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of San Leandro, California, as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the Table of Contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City as of June 30, 2022, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America 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 requirement relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. 1 Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. 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 generally accepted auditing standards 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, individually or in the aggregate, they could reasonably be expected to influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards 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.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Emphasis of a Matter
Change in Accounting Principle
Management adopted the provisions of the Governmental Accounting Standards Board Statement 87, Leases, which became effective during the year ended June 30, 2022 and required restatement of certain governmental activities and business-type activities lease -related balances as discussed in Notes 1Q and 4 to the financial statements.
The emphasis of this matter does not constitute a modification to our opinions. 2 Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis and other Required Supplementary Information as listed in the Table of Contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The accompanying Supplementary Information, as listed in the Table of Contents, is presented for purposes of additional analysis and is not a required part of the basic 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 basic financial statements.
The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the Supplementary Information is fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual report. The other information comprises the Introductory Section and Statistical Section listed in the Table of Contents, but does not include the basic financial statements and our auditor’s report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
3 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated February 27, 2023, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is 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 financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.
Pleasant Hill, California
February 27, 2023
4 Management’s Discussion and Analysis
for Fiscal Year Ended June 30, 2022
The Management’s Discussion and Analysis (MD&A) provides an overview of the City of San Leandro’s financial activities and fiscal performance for the year ended June 30, 2022. Read this discussion and analysis in conjunction with the accompanying Transmittal Letter and Basic Financial Statements to obtain a complete picture of the City’s financial condition.
FINANCIAL HIGHLIGHTS
City’s Assets and Deferred Outflows of Resources exceeded its Liabilities and Deferred Inflows of Resources by $215.8 million (Net Position), a $22.6 million increase from the prior year. Of total net position, $184.2 million was invested in capital assets, $51.2 million was restricted for other purposes, and ($19.7) million was unrestricted. While Net Investment in Capital Assets and Restricted Net Position saw a decrease of $2.0 million and $0.4 million, respectively, Unrestricted Net Position increased by $24.9 million.
Assets and Deferred Outflows of Resources increased by $13.9 million and Liabilities and Deferred Inflows of Resources decreased by $8.8 million from the prior fiscal year. The decrease in Liabilities was partly due to the decrease in net pension liability of $62.8 million and the decrease in debt repayment of $6.7 million and decrease in net OPEB liability of $1.7 million. City-wide Net Pension Liability to CalPERS for 2021-22 decreased by $62.8 million, or 30.7% from $204.1 million in the prior year to $141.2 million. This significant decrease in liability was driven by revised actuarial valuations from CalPERS taking into account member contributions and strong investment earnings in FY 2020-21. In addition, the City contributed $6,500,000 into the Section 115 irrevocable trust with the Public Agency Retirement Services (PARS). The City’s total net position increase of $22.6 million is comprised of a $17.6 million increase in governmental activities and a $5.0 million increase in Business-Type activities. In response to the COVID-19 pandemic, the Federal government passed the American Rescue Plan Act (ARPA) in March 2021, including financial aid to cities. The City was awarded $18.6 million in ARPA funds, received in two equal tranches in 2020-21 and 2021-22. During 2021-22, $1.2 million was spent on eligible programs.
In accordance with GASB Statement No. 54, governments are obligated to enhance the financial reporting of the fund balance categories. Fund balances reported in Note 10 detail the classifications of the City’s fund balance categories. The City’s governmental fund balance, which includes the General, Special Revenue, Debt Service, and Capital Projects funds, increased by $17.3 million for an ending fund balance of $152.6 million. Ending fund balance classifications include:
a) Nonspendable: $7.2 million of these funds are not available or spendable due to advances and loans to other funds.
b) Restricted: $59.8 million based on constraints on the use of resources or imposed by law through constitutional provisions or enabling legislation. These include capital projects and debt service payments.
5 c) Assigned: $9.4 million including General Fund encumbrances, and a reserve funding anticipated Other Post-Employment Benefits (OPEB) costs arising from the City’s contract for Fire Services with the Alameda County Fire Department.
d) Unassigned: $76.2 million is available for expenditures. Unassigned is further categorized by Compensated Absences, Major Emergencies, Economic Uncertainties, and offsets from other fund deficits.
OVERVIEW OF THE BASIC FINANCIAL STATEMENTS
The MD&A serves as an introduction to the City’s basic financial statements. The City’s basic financial statements comprise of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. The report also contains other supplementary information
Government-Wide Financial Statements
The government-wide financial statements provide readers a broad overview of the City’s finances in a manner similar to statements of a private-sector business. The Statements are comprised of the Statement of Net Position and Statement of Activities and Changes in Net Position.
The Statement of Net Position presents information on the City’s assets and liabilities, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of changes in the City’s financial reporting.
The Statement of Activities and Changes in Net Position presents information showing how the government’s net position changed during the fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of the related cash flows.
Revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g. uncollected taxes, earned but unused vacation leave, and other compensated absences).
The government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenue (governmental activities) from other functions intended to recover all or a significant portion of their costs through user fees and charges (business-type activities).
Both of the above financial statements have separate sections for two different types of programs or activities. These two types of activities are:
Governmental Activities – The activities in this section are mostly supported by taxes and charges for services. The governmental activities of the City include General Government (City Council, City Manager, City Clerk, Human Resources, Information Technology, and Finance), Public Safety (Police and Fire), Engineering & Transportation (including Public Works), Recreation and Culture (including the Library), and Community Development.
6 Business-Type Activities – These functions normally recover all or a significant portion of their costs through user fees and charges to external users of goods and services. The business-type activities of the City include the Water Pollution Control Plant, Environmental Services, Shoreline Enterprise, and Storm Water.
Fund Financial Statements
A fund is a grouping of related accounts maintaining control over resources segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All the funds of the City can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds – Governmental funds are used to account for the same functions reported as governmental activities in the government-wide financial statements. However, unlike the governmentwide financial statements, governmental fund statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financial capacity.
Because the focus of governmental funds is narrower than the government-wide financial statements, it is useful to compare the information presented for government funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the City’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation facilitating the comparison between governmental funds and governmental activities. Reconciliations are presented on the page immediately following each governmental fund financial statement.
The City has 25 governmental funds, of which three are considered a major fund for presentation purposes. Major funds are presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances. The City’s three major funds are the General Fund, Measure BB Special Revenue Fund and the Capital Improvement Capital Project Fund. Individual fund for each of the non-major governmental funds are provided in the form of combining statements in this report.
The City adopts an annual appropriated budget for its General Fund and all other major and non-major funds. Budgetary comparison statements are elsewhere in this report to demonstrate compliance with the adopted budget.
Proprietary Funds – The City maintains two different types of proprietary funds: enterprise funds and internal service funds. Enterprise funds are used to report the functions presented as business-type activities in the government-wide financial statements. The City uses enterprise funds to account for the Water Pollution Control Plant, Shoreline, Storm Water, and Environmental Services. Internal service funds are used to accumulate and allocate costs internally among various City functions. The City uses internal service funds to account for the vehicles fleet, building and facilities maintenance, insurance services, and information systems. Because these services primarily benefit governmental rather than business-type functions, these are included within governmental activities in the governmental-wide financial statements.
7 Proprietary funds provide the same type of information as the government-wide financial statements, but in greater detail. The proprietary fund financial statements provide separate information for the City’s proprietary funds. Internal service funds are combined into a single, aggregated presentation in the proprietary financial statements. Individual fund data for the proprietary and internal service funds are provided in the form of combining statements.
Notes to the Basic Financial Statements
The notes to the basic financial statements provide additional information that is essential to fully understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements follow the basic financial statements.
Other Information
In addition to the basic financial statements and accompanying notes, this report also presents required supplemental information. This information includes budgetary comparison schedules, detailed information about the City’s agreement with the California Public Employees Retirement System (CalPERS) for the defined benefit pension plan, more detailed information on the City’s Other Post Employment Benefit Plan (OPEB), and a detailed description of the City’s Long-Term Debt. 8 GOVERNMENT-WIDE FINANCIAL ANALYSIS
Net Position – As noted, net position may serve over time as a useful indicator of the City’s financial position. In this fiscal year, total assets exceeded liabilities by $215.8 million at the close of fiscal year 2021-22, an increase of 11.7%.
2022 2021 % change 2022 2021 % change 2022 2021 % change Current Assets 203,256 $ 184,137 $ 10.4% 47,097 $ 48,786 $ -3.5% 250,353 $ 232,923 $ 7.5% Non-Current Assets 11,857 29.1% (6,198) 9,184 (5,977) 3.7% 5,659 3,207 76.5% Capital Assets 177,125 188,650 -6.1% 84,606 81,782 3.5% 261,731 270,432 -3.2% Total assets 392,238 381,971 2.7% 125,505 124,591 0.7% 517,743 506,562 2.2% Deferred Outflows of Resources 36,464 33,464 9.0% 1,822 2,147 -15.1% 38,286 35,611 7.5% Current and other liabilities 26,108 -28.9% 3,620 36,704 3,816 -5.1% 29,728 40,520 -26.6% Long-term liabilities 184,901 245,651 -24.7% 48,701 -15.0% 233,602 57,262 302,913 -22.9% Total liabilities 211,009 282,355 -25.3% 52,321 -14.3% 263,330 61,078 343,433 -23.3% Deferred Inflows of Resources 72,614 5,606 1195.3% 4,315 - 0.0% 76,929 5,606 1272.3% Net assets:
Net investment in capital assets 139,037 146,228 -4.9% 45,175 39,935 13.1% 184,212 186,163 -1.0% Restricted 51,234 51,588 -0.7% - - N/A 51,234 51,588 -0.7% Unrestricted (45,192) (70,342) -35.8% 25,516 25,724 -0.8% (19,676) (44,618) -55.9% Total net position $ 145,079 $ 127,474 13.8% 70,691 65,659 7.7% 215,770 $ $ 193,133 11.7% City of San Leandro
Net Position at June 30, 2022
(in thousands)
Governmental Activities Business-Type Activities Total
The City’s $184.2 million net investment in capital assets such as infrastructure, land, buildings, machinery, and equipment are the largest portion of the City’s net position. These assets are not available for future spending because the City currently uses these capital assets to provide services to residents.
Although investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay these investments must be provided from other sources (future income) since the capital assets themselves cannot be used to liquidate these liabilities.
Of the City’s total net position, $51.2 million represents resources that are subject to external restrictions. The remaining balance of ($19.7) million represents an unrestricted net position, which may be used to meet the City’s ongoing obligations to citizens and creditors within the restrictions set forth by various funding sources.
9 $ $
2022 2021 % Change 2022 2021 % Change 2022 2021 % Change Revenues
Program revenues:
Charges for Services 16,635$ 15,588$ 6.7% 23,848 $ $ 24,819 -3.9% 40,483$ 40,407$ 0.2% Operating grants and 21,219 15,532 36.6% 356 350 1.7% 21,575 15,882 35.8% contributions
Capital grants and 13,619 7,878 72.9% 67 3,645 -98.2% 13,686 11,523 18.8% contributions
General revenues:
Property taxes 27,773 26,664 4.2% - - 0.0% 27,773 26,664 4.2% Sales tax 54,686 49,575 10.3% - - 0.0% 54,686 49,575 10.3% Franchise Fee 5,951 5,844 1.8% - - 0.0% 5,951 5,844 1.8% Utility users Tax 11,612 10,831 7.2% - - 0.0% 11,612 10,831 7.2% Property Transfer Tax 14,957 9,559 56.5% - - 0.0% 14,957 9,559 56.5% 911 communication 3,388 3,255 4.1% - - 0.0% 3,388 3,255 4.1% Access Tax
Other taxes 1,897 1,813 4.6% 602 36.5% 2,499 2,254 10.9% 441 Investment Earnings (2,388) 1,404 -270.1% (648) 161 -502.5% (3,036) 1,565 -294.0% Gain or loss on sale of assets 545 1,221 -55.4% 0.0% 545 1,221 -55.4% Miscellaneous - 770 -100.0% 0.0% 0 770 -100.0%
Total Revenues 169,894 149,934 13.3% 24,225 29,416 -17.6% 194,119 179,350 8.2% Expenses
General Government 10,695 5,526 -48.3% - - 0.0% 5,526 10,695 -48.3% Public safety 84,150 78,812 6.8% - - 0.0% 84,150 78,812 6.8% Engineering & Transportatio 35,676 23,380 52.6% - - 0.0% 35,676 23,380 52.6% Recreation and Culture 12,112 11,114 9.0% - - 0.0% 12,112 11,114 9.0% Community Development 12,285 17,850 -31.2% - - 0.0% 12,285 17,850 -31.2% Interest on Long-Term Debt 2,541 2,202 15.4% - - 0.0% 2,541 2,202 15.4% Water Pollution Control - - 0.0% 11,456 14,588 -21.5% 11,456 14,588 -21.5% Shoreline - - 0.0% 5,390 5,393 -0.1% 5,390 5,393 -0.1%
Storm Water Utility - - 0.0% 1,584 1,552 2.1% 1,584 1,552 2.1% Environmental Services - - 0.0% 764 808 -5.4% 764 808 -5.4% Total Expenses 152,290 144,053 5.7% 19,194 22,341 -14.1% 171,484 166,394 3.1% Excess(deficiency)of revenues
over expenses before transfe 17,604 5,881 199.3% 5,031 7,075 -28.9% 22,635 12,956 74.7% Transfer - - 0.0% - - 0.0% 0 0 0.0%
Increase in net position 17,604 5,881 199.3% 5,031 7,075 -28.9% 22,635 12,956 74.7% Beginning net position 127,475 121,594 4.8% 65,659 58,584 12.1% 193,133 180,178 7.2% Ending net position $ 127,475 145,078 $ 13.8% 70,690 $ $ 65,659 7.7% 215,770$ $ 193,134 11.7% Changes in Net Activities
Year Ended June 30, 2022
(in thousands)
Governmental Activities Business-Type Activities Total
10 Revenue – Total revenue for fiscal year 2021-22 amounted to $194.1 million, a $14.8 million increase from the prior fiscal year. Of this amount, revenue from governmental activities increased by $20.0 million or 13.3% and revenue from business-type activities decreased by $5.2 million or -17.6%. The net change in revenue was due to the following:
Charges for services in Governmental activities are primarily fees for recreation, building, fire, planning, and engineering services. Revenue from these charges increased by $1.1 million. BusinessType Activities decreased by $1.0 million. Operating grants, capital grants, and contributions include Federal and State grants and other government and private contributions, including impact fees. Operating grants, capital grants and contributions increased by a net $11.4 million in fiscal year 2021-22. Property taxes increased by 4.2% or $1.1 million when compared to fiscal year 2020-21. This is consistent with an increase in property taxes levied and assessed valuations provided through the County Assessor’s Office.
Sales tax revenue increased by 10.3% or $5.1 million when compared to fiscal year 2020-21. The City’s five largest sales tax producing sectors were General Retail, Business to Business, Construction, Transportation and Food Services.
Property Transfer Tax increased significantly by 56.5% or $5.4 million when compared to fiscal year 2020-21. The increase is primarily due 1) to the sale of commercial and industrial properties valued more than $8 million, resulting in additional tax revenue of $1.6 million and 2) a voter approved Measure VV, which increase the tax from $6 to $11 per $1000. Gain or loss on sale of assets decreased by $0.7 million due to the sale of real property. 11 Expenses – Total expenses for both governmental and business-type activities increased by $5.1 million compared to the prior fiscal year. Program expenses for governmental activities increased by $8.2 million while program expenses for business-type activities decreased by $5.1 million. For each governmental and business-type activity, the total costs are expenses associated with that activity. Within governmental activities, Engineering & Transportation had the largest increase in program expenses at $12.3 million greater than the prior fiscal year, a 52.6% increase. The increase was mainly due to projects resuming activity after being delayed in 2021. Public Safety followed with a $5.3 million increase representing a 6.8% increase over the prior fiscal year. The increase was due to Safety pension expense increase of $5.3 million. Community Development Department’s expenditures decreased by $5.6 million representing a 31.2% decrease from the prior fiscal year. The decrease was mainly due to major projects that were complete in 2021. Business-type activities saw a decrease in expenses totaling $3.1 million mainly due to a decrease in pension expense of $2 million.
2022 2021 % Change
General Government 5,526 $ 10,695 -48.3%
Public safety 84,150 78,812 6.8%
Engineering & Transportation 35,676 23,380 52.6%
Recreation and Culture 12,112 11,114 9.0%
Community Development 12,285 17,850 -31.2%
Interest on Long-Term Debt 2,541 2,202 15.4%
Governmental Activities 152,290 144,053 5.7%
Water Pollution Control Plant 11,456 14,588 -21.5%
Shoreline 5,390 5,393 -0.1%
Storm Water 1,584 1,552 2.1%
Environmental Services 764 808 -5.4%
Business-Type Activities 19,194 22,341 -14.1%
Total Expenses $ 171,484 166,394$ 3.1%
Change in expense
(in thousands)
12 $
Business-Type Activities – The City’s business-type activities include the Water Pollution Control Plant, Shoreline, Storm Water, and Environmental Services. Business-Type activities net position increased by $5.0 million when compared to prior fiscal year. The Water Pollution Control Plant Fund’s net position increased from $60.1 to $64.2 million.
Expenses by Function – Business-Type Activities Revenues by Source – Business-Type Activities
FINANCIAL ANALYSIS OF INDIVIDUAL FUNDS
Governmental Funds
The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City’s financial conditions. In particular, unassigned fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. It should be noted that most of the unassigned amounts are designated by the City Council for specific uses.
At the end of fiscal year 2021-22, the City’s governmental funds reported combined ending fund balances of $152.7 million, an increase of $17.4 million compared to prior year. Approximately 4.7% or $7.2 million of the fund balance represents Nonspendable; 39.1% or $59.8 million represents Restricted, 6.2% or $9.4 million represents Assigned, and 50% or $76.2 million is Unassigned and available for spending at the City Council’s discretion.
General Fund
The General Fund is a major governmental fund and represents all funds not required to be accounted for in another fund. The General Fund accounted for 86.9% of the total governmental revenues and 80.5% of the total expenditures. A number of primary City services are accounted for in the General Fund including general government, public safety, development services, library and community services, and maintenance services. At the end of fiscal year 2021-22, the unassigned fund balance of the General Fund was $79 million, while the total fund balance was $101.4 million. As a measure of the General Fund’s liquidity, it is useful to compare the Unassigned Fund Balance to total of fund expenditures. 13 The Unassigned Fund Balance of $79 million has been designated for the following purposes:
$1 million for Compensated Absences
$5.0 million for Major Emergencies
$26.7 million for Economic Uncertainty
$46.3 million for remaining Unassigned (for liquidity and other purposes) At the end of fiscal year 2021-22, the General Fund ending balance increased by $17.7 million compared to the prior fiscal year. General Fund revenues increased by $10.2 million primarily due to a $6.5 million increase in sales taxes and property transfer tax, offset by a decrease of $3.5 million in use of money and property. General Fund expenditures (not including Transfers Out) increased by $2.5 million from the prior fiscal year. The overall increase is largely due to increases in engineering and transportation expenditures by $1.5 million and recreation and culture by $1.6 million, offset by a decrease in public safety for $1.2 million.
Measure BB Special Revenue Fund
The Measure BB Special Revenue Fund is a major governmental fund and accounted for 3.7% of the total governmental revenues and 4.4% of the total expenditures. The fund accounts for the City’s share of revenues earned and expenditure incurred under the City paratransit, streets and roads, and bike and pedestrian programs. As of June 30, 2022, the Measure BB Special Revenue Fund had a total fund balance of ($2.1) million.
Capital Improvement Capital Projects Fund
The Capital Improvement Capital Projects Fund is a major governmental fund and accounted for .006% of the total governmental revenues and 3.9% of the total expenditures (not including other financing sources such as issuance of debt or interfund transfers). The fund accounts for monies for major capital improvement projects not provided for in the other special revenue funds such as the Measure B and F Funds. As of June 30, 2022, the Capital Improvement Capital Projects Fund had a total fund balance of $30.7 million, a decrease of 7.2%. The fund balance including the proceeds from 2018 Lease Revenue Bonds anticipated to include improvements to the Mulford-Marina Branch Library, and the Boat Harbor.
Non-major Governmental Funds
The City’s non-major funds are presented in the basic financial statements in the aggregate. As of June 30, 2022, non-major funds had a total fund balance of $22.6 million of which all are legally restricted for specific purposes by external funding. More information about these aggregate non-major funds can be found in the combining statements immediately following the required supplementary information.
Proprietary Funds
The City’s proprietary funds provide the same type of information found in the government-wide financial statements but in greater detail.
The total net position of the Enterprise Funds was $70.7 million at the end on June 30, 2022, an increase of $5.0 million from the prior fiscal year. The total net position of the Internal Service Funds was $15.9 million at the end on June 30, 2021, a decrease of $1.2 million from the prior fiscal year. 14 Water Pollution Control Plant Enterprise Fund
The Water Pollution Control Plant Enterprise Fund was established to account for the City’s sewer system, which protects public health and preserves water quality through collection, treatment, and disposal of wastewater and wastewater solids. As of June 30, 2022, the Fund’s net position totaled $64.2 million, an increase of $4.1 million primarily due to the decrease in operating expenses by $3.3 million. The decrease was due to a decrease of pension expense of $2 million.
Shoreline Enterprise Fund
The Shoreline Enterprise Fund was established in 2002-03 by combining the Marina Enterprise and the Golf Course Enterprise Funds. The Fund accounts for the operation of recreational boat berthing, food service facilities, and the public golf course. As of June 30, 2022, the Fund’s net position totaled $6.5 million, an increase of $1.4 million or 27.5%. Net position for the prior year was $5.1 million.
Non-major Enterprise Funds
The City’s non-major enterprise funds include Storm Water and Environmental Services. As of June 30, 2022, net position for non-major enterprise funds decreased by 101.4%, or $0.5 million, due to decrease in the Storm Water Fund of $0.5 million and an increase of $0.01 million in the Environment Services Fund. More information about these aggregate non-major enterprise funds can be found in the combining statements following the required supplementary information.
GENERAL FUND BUDGETARY HIGHLIGHTS
The General Fund ended the fiscal year with revenues below final budget projections by 6.2% or $8.9 million. The decrease was due to ARPA revenues budgeted in fiscal year 2022, that were not received until fiscal year 2023. Expenditures were 17.4% or $23.4 million below final budget projections. Unspent budget balance represents open purchase orders, ongoing ARPA projects, and deferred purchases that will incur in future fiscal years.
15 Variance with
Final Budget
Positive
Adopted Final Actual (Negative)
REVENUES:
Property taxes and other taxes $ 110,707 $ 111,955 $ 119,965 $ 8,010 Licenses and permits 3,808 9,639 10,165 526
Fines and forfeitures 746 746 723 (23)
Services charges 2,054 1,440 1,898 458
Intergovernmental 788 16,378 2,557 (13,821)
Use of money and property 2,707 2,482 (2,016) (4,498)
Interdepartmental charges 2,000 2,000 2,001 1
Other 292 221 635 414
Total revenues 123,102 144,861 135,928 (8,933)
EXPENDITURES:
Current:
General government 15,465 16,473 14,611 (1,862)
Public safety 68,534 69,362 63,991 (5,371)
Engineering and transportation 12,069 21,454 11,736 (9,718) Recreation and culture 13,663 13,345 11,314 (2,031)
Community development 7,006 11,063 7,158 (3,905)
Debt service:
Principal 4,398 2,885 2,334 (551)
Interest and fees 2,160 492 492 -
Total expenditures 123,295 135,074 111,636 (23,438)
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (193) 9,785 24,292 14,507
OTHER FINANCING SOURCES (USES):
Transfers (in) - - - -
Transfers (out) (6,601) (6,606) (6,606) -
Proceeds from the sale of property - - 9 9
Total other financing sources (uses) (6,601) (6,606) (6,597) 9 NET CHANGE IN FUND BALANCE $ (6,794) $ 3,179 $ 17,695 $ 14,516 FUND BALANCES:
Beginning of year 83,719
End of year $ 101,414
CITY OF SAN LEANDRO
Summary Analysis of General Fund Budget, Fiscal Year 2021-22 (in thousands)
Budgeted Amounts
16 CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets
The City’s capital assets for its governmental and business-type activities as of June 30, 2022 amount to $261.7 million, net of accumulated depreciation. This represents a decrease of $8.7 million due to the annual depreciation expense of $18.9 million.
Investment in capital assets includes land, buildings, improvements, machinery and equipment, infrastructure, and construction in progress. Infrastructure assets are items that are normally immovable and of value only to the City such as roads, bridges, streets and sidewalks, drainage systems, lighting systems, and similar infrastructure.
The following is a summary of the City’s capital assets:
City of San Leandro
Capital Assets (net of depreciation)
Year Ended June 30, 2022
(in thousands)
2022 2021 2022 2021 2022 2021
Land 16,471 $ 16,471 $ 5,234 $ 5,234 $ 21,705 $ 21,705 $ Construction in progress 14,744 22,486 6,526 2,647 21,270 25,133 Total non-depreciable assets 31,215 38,957 11,760 7,881 42,975 46,838 Depreciable assets (net of depreciation)
Buildings 49,802 51,328 54,354 55,470 104,156 106,798
Improvements other than buildings 4,931 5,101 - - 4,931 5,101 Machinery and equipment 4,842 3,253 4,670 4,828 9,512 8,081 Licensed Vehicles 5,137 6,010 66 55 5,203 6,065
Infrastructure 81,198 84,002 13,755 13,548 94,953 97,550 Total depreciable assets 145,910 149,694 72,845 73,901 218,755 223,595 Total capital assets $ 177,125 $ 188,651 $ 84,605 $ 81,782 261,730$ $ 270,433 Governmental Activities Business-Type Activities Total
Additional information on the City’s capital assets can be found in Note 6 of the notes to the financial statements.
17 Debt Administration
At the end of the current fiscal year, the City’s total outstanding long-term debt is $84.5 million, a decrease of $6.8 million from the prior fiscal year due to debt service payments.
At the end of the current fiscal year, the City’s total long-term debt outstanding for governmental activities is $45.1million, a decrease of $4.3 million from the prior fiscal year. The decrease was due to principal payments during the year as seen in Note 6 of the notes to the financial statements.
At the end of the current fiscal year, the City’s total long-term debt outstanding for business-type activities is $39.4 million, an increase of $2.4 million from the prior fiscal year. The increase primarily reflects the direct borrowing lease agreement ($7.6 million) the City entered with the Banc of America Public Capital Corporation, decreased by principal payments ($2.1 million) for the State Water Resources Control Board Loan and Marina Cal Boating Loan.
Additional information on the City’s long-term debt obligations can be found in Note 6 of the notes to the financial statements.
The following is a summary of the City’s outstanding debt:
City of San Leandro
Outstanding Debt
Year Ended June 30, 2022
(in thousands)
2022 2021 2022 2021 2022 2021
Revenue bonds and notes 40,073 $ 43,941 $ - $ - $ $ 40,073 $ 43,941 (backed by specific tax and fee revenues)
Other loans 5,016 5,482 39,430 41,847 44,446 47,329
Total $ 45,089 $ 49,423 $ 39,430 $ 41,847 $ 84,519 $ 91,270 Governmental Activities Business-Type Activities Total
ECONOMIC FACTORS AND NEXT YEAR’S BUDGET
The economy of the City and major initiative are discussed in the Transmittal Letter located in the Introductory Section of the ACFR.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of the City’s finances for all citizens, taxpayers, customers, investors, and creditors. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the City of San Leandro, Finance Department, 835 East 14th Street, San Leandro, CA 94577. 18 BASIC FINANCIAL STATEMENTS
GOVERNMENT-WIDE FINANCIAL STATEMENTS
City of San Leandro
Statement of Net Position
June 30, 2022
Governmental Business - Type
Activities Activities Total
Current assets:
Cash and investments (Note 2) $ 39,564,037 170,864,992 $ 210,429,029 $ Restricted cash and investments (Note 2) 5,295,106 5,736,793 11,031,899 Receivables:
Accounts 25,721,545 1,827,341 27,548,886
Interest 408,710 96,235 504,945
Special assessments 48,734 - 48,734
Inventory and prepaid items 475,532 313,967 789,499
Total current assets 203,256,306 47,096,686 250,352,992 Noncurrent assets:
Loans receivable (Note 3) - 1,823,786 1,823,786
Leases receivable (Note 4) 584,017 3,251,608 3,835,625
Internal balances (Note 5D) 6,781,398 (6,781,398) -
Capital assets (Note 6):
Non-depreciable 31,214,907 11,759,867 42,974,774
Depreciable 520,360,935 93,558,210 613,919,145
Less accumulated depreciation (374,450,820) (20,712,307) (395,163,127) Capital assets, net 177,125,022 84,605,770 261,730,792
Total noncurrent assets 188,981,814 78,408,389 267,390,203 Total Assets 125,505,075 392,238,120 517,743,195
DEFERRED OUTFLOWS OF RESOURCES
Related to pension (Note 14) 1,821,721 32,165,622 33,987,343 Related to OPEB (Note 15) - 4,298,248 4,298,248
Total Deferred Outflows of Resources 36,463,870 1,821,721 38,285,591 Current liabilities:
Accounts payable and accruals 10,534,851 991,429 11,526,280 Interest payable 453,461 5,536 458,997
Other liabilities 968,085 28,024 996,109
Unearned revenue (Note 9) 6,964 4,418,508 4,425,472
Compensated absences - Due within one year (Note 8) 881,441 161,251 1,042,692 Claims and judgments payable - Due within one year (Note 12) - 4,251,981 4,251,981 Long- term debt - Due within one year (Note 7) 2,426,312 4,600,131 7,026,443 Total current liabilities 26,108,458 3,619,516 29,727,974 Noncurrent liabilities:
Deposits 42,248 4,782,650 4,824,898
Compensated absences payable - Due in more than one year (Note 8) 483,752 2,240,832 2,724,584 Claims and judgments payable - Due in more than one year (Note 12) - 2,817,888 2,817,888 Net pension liability (Note 14) 11,170,322 130,046,401 141,216,723 Net OPEB liability (Note 15) - 4,523,749 4,523,749
Long- term debt - Due in more than one year (Note 7) 37,004,180 40,489,288 77,493,468 Total noncurrent liabilities 184,900,808 48,700,502 233,601,310 Total Liabilities 211,009,266 52,320,018 263,329,284
DEFERRED INFLOWS OF RESOURCES
Related to leases (Note 4) 575,676 3,175,376 3,751,052
Related to pension (Note 14) 3,739,567 66,824,810 70,564,377 Related to OPEB (Note 15) - 2,613,507 2,613,507
Total Deferred Inflows of Resources 72,613,693 4,315,243 76,928,936 Net investment in capital assets 139,036,949 45,175,278 184,212,227 Restricted for:
Capital projects 30,722,119 - 30,722,119
Debt service 416,219 - 416,219
Engineering and transportation 12,539,049 - 12,539,049
Recreation and culture 714,965 - 714,965
Community development - 5,880,219 5,880,219
Public safety 961,425 - 961,425
Total restricted 51,233,996 - 51,233,996
Unrestricted (45,191,914) 25,516,257 (19,675,657)
Total Net Position $ 145,079,031 $ 70,691,535 $ 215,770,566 See Accompanying Notes to Basic Financial Statements
ASSETS
LIABILITIES
NET POSITION (Note 10)
23 City of San Leandro
Statement of Activities and Changes in Net Position
For the year ended June 30, 2022
Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions Total Primary government:
Governmental Activities:
General government $ 5,526,031 $ 8,522,173 $ 463,843 $ 2,649,666 $ 11,635,682 Public safety 84,150,324 2,170,034 25,515 - 2,195,549
Engineering and transportation 664,775 35,676,370 17,182,301 8,668,451 26,515,527 Recreation and culture 12,111,560 846,779 93,872 2,301,175 3,241,826 Community development 4,431,565 12,284,760 3,453,278 - 7,884,843 Interest on long-term debt 2,541,072 - - - -
Total Governmental Activities 152,290,118 16,635,326 21,218,809 13,619,292 51,473,427 Business-type activities:
Water Pollution Control Plant 16,019,004 11,456,337 - 66,721 16,085,725 Shoreline 5,389,583 6,287,707 - - 6,287,707
Storm Water Utility 1,583,533 1,084,536 - - 1,084,536
Environmental Services 763,670 457,071 356,393 - 813,464 Total Business-type activities 19,193,123 23,848,318 356,393 66,721 24,271,432 Total Primary Government $ 171,483,241 $ 40,483,644 $ 21,575,202 $ 13,686,013 $ 75,744,859 General revenues:
Taxes:
Property taxes
Sales tax
Franchise fees
Utility users tax
Property transfer tax
911 communication access tax
Other taxes
Total Taxes
Investment earnings
Miscellaneous
Total General Revenues
Change in Net Position
Net position - Beginning of year
Net position - End of year
See Accompanying Notes to Basic Financial Statements
Program Revenues
24 Governmental Business- Type
Activities Activities Total
$ - 6,109,651 $ 6,109,651 $
(81,954,775) - (81,954,775)
(9,160,843) - (9,160,843)
(8,869,734) - (8,869,734)
(4,399,917) - (4,399,917)
(2,541,072) - (2,541,072)
(100,816,691) - (100,816,691)
- 4,629,388 4,629,388
- 898,124 898,124
- (498,997) (498,997)
- 49,794 49,794
- 5,078,309 5,078,309
(100,816,691) 5,078,309 (95,738,382)
27,772,678 - 27,772,678
54,686,116 - 54,686,116
5,951,091 - 5,951,091
11,611,644 - 11,611,644
14,957,472 - 14,957,472
3,388,459 - 3,388,459
1,896,881 602,208 2,499,089
120,264,341 602,208 120,866,549
(2,388,005) (647,946) (3,035,951)
545,025 - 545,025
118,421,361 (45,738) 118,375,623
17,604,670 5,032,571 22,637,241
127,474,361 65,658,964 193,133,325
$ 145,079,031 $ 70,691,535 $ 215,770,566
Changes in Net Position
Net (Expense) Revenue and
25 FUND FINANCIAL STATEMENTS
Governmental Fund Financial Statements
Proprietary Fund Financial Statements
Fiduciary Fund Financial Statements
GOVERNMENTAL FUND FINANCIAL STATEMENTS
The General Fund – Accounts for all general revenues of the City not specifically levied or collected for other City funds and the related expenditures. The General Fund accounts for all financial resources of a governmental unit which are not accounted for in other funds.
Measure BB Special Revenue Fund– This fund accounts for the City's share of revenues earned and expenditure incurred under the City paratransit, streets and roads, and bike and pedestrian programs.
Capital Improvement Projects Capital Projects Fund – This fund accounts monies for major capital improvement projects not provided for in the other capital improvement projects fund. 29 City of San Leandro
Governmental Funds
Balance Sheet
June 30, 2022
Capital
Measure BB Improvement Non-Major
Special Revenue Capital Projects Governmental
General Fund Fund Fund Funds Total
Cash and investments (Note 2) $ 90,858,066 $ 7,096,546 $ 31,396,708 $ 22,445,948 $ 151,797,268 Restricted cash and investments (Note 2) 5,641,938 - 94,855 - 5,736,793 Receivables:
Property taxes 198,851 - - - 198,851
Accounts 19,214,929 1,218,702 - 1,392,735 21,826,366
Federal, State, and local grants 25,430 - - 3,669,888 3,695,318 Interest 306,041 534 - 56,469 363,044
Special assessment 48,638 - - 96 48,734
Loans (Note 3) 1,176,802 - - 646,984 1,823,786
Leases (Note 4) 3,251,608 - - - 3,251,608
Due from other funds (Note 5A) 13,088,695 - - - 13,088,695 Advances to other funds (Note 5B) 6,041,796 - - - 6,041,796 Prepaids - - - 184,500 184,500
Total Assets $ 139,852,794 $ 8,315,782 $ 31,491,563 $ 28,396,620 $ 208,056,759 Liabilities:
Accounts payable and accruals $ 7,488,762 $ 602,770 $ 783,066 $ 739,139 $ 9,613,737 Due to other funds (Note 5A) - 9,830,885 - 1,364,821 11,195,706 Advances from other funds (Note 5B) 1,153,387 - - - 1,153,387 Deposits payable 4,782,650 - - - 4,782,650
Unearned revenue (Note 9) 4,418,508 - - - 4,418,508
Total Liabilities 17,843,307 10,433,655 783,066 2,103,960 31,163,988 Unavailable revenue - grants receivable 17,420,117 - - 3,649,288 21,069,405 Related to leases receivable (Note 4) 3,175,376 - - - 3,175,376 Total Deferred Inflows of Resources 20,595,493 - - 3,649,288 24,244,781 Fund Balances: (Note 10)
Nonspendable 7,218,598 - - - 7,218,598
Restricted - 5,691,874 30,708,497 23,353,815 59,754,186 Assigned - 9,436,735 - - 9,436,735
Unassigned (2,117,873) 79,066,787 - (710,443) 76,238,471 Total Fund Balances 101,413,994 (2,117,873) 30,708,497 22,643,372 152,647,990 Total Liabilities, Deferred Inflows of Resources
and Fund Balances $ 139,852,794 $ 8,315,782 $ 31,491,563 $ 28,396,620 $ 208,056,759 See Accompanying Notes to Basic Financial Statements
ASSETS
DEFERRED INFLOWS OF RESOURCES
LIABILITIES
Major Funds
30 City of San Leandro
Reconciliation of the Governmental Funds Balance Sheet
with the Statement of Net Position
June 30, 2022
Total fund balances reported on the governmental funds balance sheet $ 152,647,990 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. 171,395,135
ALLOCATION OF INTERNAL SERVICE FUND NET POSITION
Internal service funds are not governmental funds. However, they are used by management to charge the costs of certain activities, such as insurance and central services and maintenance to individual governmental funds. The net current assets of the Internal Service Funds are therefore included in Governmental Statement of Activities. 15,873,809
LONG-TERM ASSETS AND LIABILITIES
The assets and liabilities below are not due and payable in the current period and therefore are not reported in the Funds:
Net OPEB liability, related deferred outflows and inflows of resources (2,839,008) Net pension liability, related deferred outflows and inflows of resources (164,705,589) Long-term debt (45,089,419)
Interest payable (453,461)
Compensated absences (2,819,831)
Recognition of grants revenue 21,069,405
NET POSITION OF GOVERNMENTAL ACTIVITIES $ 145,079,031
See Accompanying Notes to Basic Financial Statements
31 City of San Leandro
Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds
For the year ended June 30, 2022
Capital
Measure BB Improvement Non-Major
Special Revenue Capital Projects Governmental
General Fund Fund Funds Total
REVENUES
Property and other taxes $ 119,965,461 $ - $ - $ 499,794 $ 120,465,255 Licenses and permits 10,165,545 - - 636,348 10,801,893
Fines and forfeitures 723,592 - - 86,175 809,767
Service charges 1,897,833 - 8,803 64,077 1,970,713
Intergovernmental 2,556,837 5,936,761 - 8,849,776 17,343,374 Use of money and property (2,016,399) (3,644) 19 2,855,749 835,725 Interdepartmental charges 2,000,000 - - - 2,000,000
Other 635,520 - - 1,581,500 2,217,020
Total Revenues 135,928,389 5,933,117 8,822 14,573,419 156,443,747
EXPENDITURES
Current:
General Government 14,611,556 - - - 14,611,556
Public safety 63,990,759 - - 188,654 64,179,413
Engineering and transportation 11,735,643 6,055,475 2,317,396 9,249,084 29,357,598 Recreation and culture 11,314,002 - - 405,787 11,719,789 Community development 7,158,181 - 3,128,076 2,289,334 12,575,591 Debt service:
Principal 2,333,816 - - 1,783,000 4,116,816
Interest and fees 492,096 - - 1,580,150 2,072,246
Total Expenditures 111,636,053 6,055,475 5,445,472 15,496,009 138,633,009 REVENUES OVER (UNDER) EXPENDITURES 24,292,336 (122,358) (5,436,650) (922,590) 17,810,738
OTHER FINANCING SOURCES (USES)
Transfers in (Note 5C) - 1,173,476 3,517,830 4,988,426 9,679,732 Transfers (out) (Note 5C) (6,606,256) - (478,693) (3,073,476) (10,158,425) Proceeds from the sale of property 9,038 - - - 9,038
Total Other Financing Sources (Uses) (6,597,218) 1,173,476 3,039,137 1,914,950 (469,655) NET CHANGE IN FUND BALANCES 17,695,118 1,051,118 (2,397,513) 992,360 17,341,083
FUND BALANCES (DEFICITS)
Beginning of year (3,168,991) 33,106,010 21,651,012 83,718,876 135,306,907 End of year $ (2,117,873) 101,413,994 $ 30,708,497 $ 22,643,372 $ 152,647,990 $ See Accompanying Notes to Basic Financial Statements
Major Fund
32 City of San Leandro
Reconciliation of the Net Change in Fund Balances - Total Government Funds with the Statement of Activities
For the year ended June 30, 2022
The schedule below reconciles the Net Changes in Fund Balances reported on the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balance, which measures only changes in current assets and current liabilities on the modified accrual basis, with the Change in Net Position of Governmental Activities reported in the Statement of Activities, which is prepared on the full accrual basis.
NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS $ 17,341,083 Amounts reported for governmental activities in the Statement of Activities are different because of the following:
CAPITAL ASSET TRANSACTIONS
Governmental Funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is capitalized and allocated over their estimated useful lives and reported as depreciation expense.
Capital expenditures are therefore added back to fund balance 4,363,137 Depreciation expense is deducted from the fund balance. The amount excludes the depreciation of $1,350,973, which is reported in the Internal Service Funds. (15,738,502) Loss on disposal of capital assets is deducted from fund balance (25,968)
LONG-TERM DEBT PROCEEDS AND PAYMENTS
Bond proceeds provide current financial resources to governmental funds, but issuing debt increases long-term liabilities in the Statement of Net Position.
Repayment of bond principal is an expenditure in the governmental funds, but in the Statement of Net Position the repayment reduces long-term liabilities.
Repayment of debt principal is added back to fund balance 4,116,816 Amortization of bond discount is deducted from fund balance (10,119) Amortization of bond premium is added back to fund balance 227,386
ACCRUAL OF NON-CURRENT ITEMS
The amounts below included in the Statement of Activities do not provide or (require) the use of current financial resources and therefore are not reported as revenue or expenditures in governmental funds (net change):
Unearned revenue 13,442,003
Interest payable (111,767)
Compensated absences 1,030,845
Net pension liabilities, related deferred outflows and inflows of resources (5,234,058) Net OPEB liabilities, related deferred outflows and inflows of resources (582,150)
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.
Change in Net Position - All Internal Service Funds (1,214,036) CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $ 17,604,670 See Accompanying Notes to Basic Financial Statements
33 PROPRIETARY FUND FINANCIAL STATEMENTS
Water Pollution Control Plant - This fund accounts for the City’s sewers which protect public health and preserve water quality through the collection, treatment and disposal of the community’s wastewater and wastewater solids.
Shoreline - The City operates various recreational facilities which include golf and marina berthing as well as providing food service facilities for the general public in an area connected to the San Francisco Bay.
Internal Service Funds - These funds are used to account for special activities and services performed by a designated City department for other departments on a cost reimbursement basis. 35 City of San Leandro
Statement of Net Position
Proprietary Funds
June 30, 2022
Major Enterprise Funds Governmental
Water Non- Major ActivitiesPollution Enterprise Internal Service Control Plant Shoreline Funds Total Funds
Current Assets:
Cash and investments (Note 2) $ 30,424,225 $ 7,152,663 $ 1,987,149 $ 39,564,037 $ 19,067,724 Restricted cash and investments (Note 2) 5,295,106 - 5,295,106 - - Receivables:
Accounts 1,467,096 256,823 103,422 1,827,341 1,010
Interest 69,546 21,258 5,431 96,235 45,666
Leases (Note 4) - 584,017 - 584,017 -
Inventory and prepaids - 313,967 - 313,967 291,032
Total current assets 37,255,973 8,328,728 2,096,002 47,680,703 19,405,432 Noncurrent assets:
Advance to other fund (Note 5B) 1,153,387 - 1,153,387 - - Capital assets (Note 6):
Non-Depreciable 8,182,057 3,577,810 11,759,867 - -
Depreciable 87,608,552 5,929,364 20,294 93,558,210 18,998,701 Less accumulated depreciation (16,689,752) (4,002,518) (20,037) (20,712,307) (13,268,814) Total capital assets, net 5,504,656 79,100,857 257 84,605,770 5,729,887 Total noncurrent assets 80,254,244 5,504,656 257 85,759,157 5,729,887 Total Assets 117,510,217 13,833,384 2,096,259 133,439,860 25,135,319
DEFERRED OUTFLOWS OF RESOURCES
Related to pension (Note 13) 1,821,721 - 1,821,721 - -
Current Liabilities:
Accounts payable 467,538 496,135 27,756 991,429 921,114 Interest payable - 5,536 - 5,536 -
Due to other funds (Note 5A) - - 1,892,989 1,892,989 -
Other liabilities 54 27,970 - 28,024 968,085
Unearned revenue - 6,964 - 6,964 -
Claims and judgments - due in 1 year (Note 12) - - - - 4,251,981 Compensated absences - due in 1 year (Note 8) 105,152 10,533 45,566 161,251 69,563 Long-term debt - due in 1 year (Note 7) 2,380,978 45,334 2,426,312 - - Total current liabilities 2,953,722 592,472 1,966,311 5,512,505 6,210,743 Non-current Liabilities:
Deposits payable 3,000 39,248 - 42,248 -
Advances from other funds (Note 5B) 6,041,796 - 6,041,796 - - Claims and judgments - due in more than 1 year (Note 12) - - - - 2,817,888 Compensated absences - due in more than 1 year (Note 8) 315,457 31,598 136,697 483,752 232,879 Net pension liability (Note 14) 11,170,322 - 11,170,322 - - Long-term debt - due in more than 1 year (Note 7) 36,915,320 88,860 37,004,180 - - Total noncurrent liabilities 48,404,099 6,201,502 136,697 54,742,298 3,050,767 Total liabilities 51,357,821 6,793,974 2,103,008 60,254,803 9,261,510
DEFERRED INFLOWS OF RESOURCES
Related to leases (Note 4) - 575,676 - 575,676 -
Related to pension (Note 14) 3,739,567 - 3,739,567 - -
Total deferred inflows of resources 3,739,567 575,676 4,315,243 - - Net investment in capital asset 5,370,462 39,804,559 257 45,175,278 5,729,887 Unrestricted 1,093,272 24,429,991 (7,006) 25,516,257 10,143,922 Total Net Position $ 64,234,550 $ 6,463,734 $ (6,749) $ 70,691,535 $ 15,873,809 See Accompanying Notes to Basic Financial Statements
NET POSITION (Note 10)
ASSETS
LIABILITIES
36 City of San Leandro
Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds
For the year ended June 30, 2022
Governmental
Water Non- Major ActivitiesPollution Enterprise Internal Service Control Plant Shoreline Funds Total Funds
OPERATING REVENUES:
Charges for services $ 15,574,999 $ 5,670,259 $ 1,081,131 $ 22,326,389 $ 17,271,935 Licenses and permits 59,662 - 424,964 484,626 -
Rents and concessions - 592,997 - 592,997 -
Other operating revenues 384,343 24,451 35,512 444,306 415,499 Total Operating Revenues 6,287,707 16,019,004 1,541,607 23,848,318 17,687,434 OPERATING EXPENSES:
Salaries and benefits 3,784,745 551,071 1,341,500 5,677,316 4,153,502 Contractual and other services 2,669,051 3,995,413 336,225 7,000,689 10,933,166 Materials and supplies 222,561 165,299 60,489 448,349 1,004,272 Depreciation 1,773,561 114,226 - 1,887,787 1,350,973
Other operating costs 1,970,898 233,134 608,989 2,813,021 1,581,191 Total Operating Expenses 5,059,143 10,420,816 2,347,203 17,827,162 19,023,104 OPERATING INCOME (LOSS) 5,598,188 1,228,564 (805,596) 6,021,156 (1,335,670) NONOPERATING REVENUES (EXPENSES):
Property and other taxes - 602,208 - 602,208 -
Intergovernmental - - 356,393 356,393 -
Investment income (504,066) (106,802) (37,078) (647,946) (357,059) Interest expense (1,035,521) (330,440) - (1,365,961) -
Total Nonoperating Revenues (Expenses) 164,966 (1,539,587) 319,315 (1,055,306) (357,059) INCOME BEFORE CONTRIBUTIONS AND TRANSFERS 4,058,601 1,393,530 (486,281) 4,965,850 (1,692,729) CONTRIBUTIONS AND TRANSFERS:
Capital contributions 66,721 - - 66,721 -
Transfers in (Note 5C) - - - - 478,693
Total Capital Contributions and Transfers 66,721 - - 66,721 478,693 Change in Net Position 1,393,530 4,125,322 (486,281) 5,032,571 (1,214,036) NET POSITION:
Net Position-Beginning of year 60,109,228 5,070,204 479,532 65,658,964 17,087,845 Net Position(Deficit) - End of year $ 6,463,734 64,234,550 $ $ (6,749) $ 70,691,535 $ 15,873,809 See Accompanying Notes to Basic Financial Statements
Major Enterprise Funds
37 City of San Leandro
Statement of Cash Flows
Proprietary Funds
For the year ended June 30, 2022
Major Enterprise Funds Governmental
Water Non- Major ActivitiesPollution Enterprise Internal Service Control Plant Shoreline Funds Total Funds
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from customers $ 16,115,324 $ 6,610,442 $ 1,584,641 $ 24,310,407 $ 904,123 Cash received from other funds - 487,431 - 487,431 -
Receipts from interfund charges - - - 17,322,257 -
Cash payments to suppliers and service providers (7,517,717) (4,151,251) (995,538) (12,664,506) (13,147,897) Cash payments to employees for services (3,868,130) (530,939) (1,336,610) (5,735,679) (4,071,301) Net cash provided (used) by operating activities 1,928,252 4,729,477 (260,076) 6,397,653 1,007,182
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:
Property and other taxes received - 602,208 602,208 - - Intergovernmental revenue received - - 356,393 356,393 - Interfund loans 551,622 (234,940) 316,682 - -
Transfers in from other funds - - - - 478,693
Net cash provided (used) by noncapital financing activities 367,268 551,622 356,393 1,275,283 478,693
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:
Principal paid on capital debt (2,323,268) (93,273) - (2,416,541) - Acquisition of capital assets (4,711,865) - (4,711,865) - (1,227,222) Capital contributions 66,721 - - 66,721 -
Interest payments on bonds and notes payable (1,035,521) (334,287) (1,369,808) - - Net cash provided (used) by capital and
related financing activities (427,560) (8,003,933) - (8,431,493) (1,227,222) CASH FLOWS FROM INVESTING ACTIVITIES:
Change in fair values of investments (1,028,178) (140,740) (70,085) (1,239,003) (654,590) Interest income (expense) 527,868 25,313 32,147 585,328 297,697 Net cash provided (used) by investing activities (115,427) (500,310) (37,938) (653,675) (356,893) Net increase (decrease) in cash and cash equivalents 1,752,533 (3,223,144) 58,379 (1,412,232) (98,240) CASH AND CASH EQUIVALENTS:
Cash and investments at beginning of year 5,400,130 38,942,475 1,928,770 46,271,375 19,165,964 Cash and investments at end of year $ 7,152,663 35,719,331 $ 1,987,149 $ 44,859,143 $ 19,067,724 $
RECONCILIATION OF OPERATING INCOME/ (LOSS) TO
NET CASH PROVIDED BY OPERATING ACTIVITIES:
Operating income (loss) 5,598,188 $ 1,228,564 $ (805,596) $ 6,021,156 $ (1,335,670) $ Adjustments to reconcile operating income to
net cash provided by operating activities:
Depreciation 1,773,561 114,226 - 1,887,787 1,350,973
Change in assets and liabilities:
(Increase) decrease in accounts receivable 96,320 304,362 43,034 443,716 488,624 (Increase) decrease in inventories - (161,233) (161,233) - (28,914) (Increase) decrease in leases receivable (584,017) - (584,017) - - (Decrease) increase in accounts payable (664,617) 403,828 10,165 (250,624) 493,257 (Decrease) increase in other liabilities - 21,086 - 21,086 (61,524) (Decrease) increase due to other funds - - 487,431 487,431 - (Decrease) increase in deposits payable - (1,336) - (1,336) - (Decrease) increase claims and judgments payable 54 - - 54 18,235 (Decrease) increase in compensated absences (83,385) 20,132 4,890 (58,363) 82,201 (Decrease) increase in unearned revenue - 6,964 - 6,964 - (Decrease) increase in deferred outflow 325,011 - 325,011 - - (Decrease) increase in deferred inflow 3,739,567 575,676 4,315,243 - - (Decrease) increase in net pension liability (6,055,222) - (6,055,222) - - Total adjustments (868,711) 699,688 545,520 376,497 2,342,852 Net cash provided (used) by operating activities $ 1,928,252 4,729,477 $ (260,076) $ 6,397,653 $ 1,007,182 $ See Accompanying Notes to Basic Financial Statements
38 FIDUCIARY FUND FINANCIAL STATEMENTS
Private Purpose Trust Funds are fiduciary fund types used to report all trust arrangements, other than those properly reported in pension trust funds or investment trust funds, under which principal and income benefit individuals, private organizations, or other governments.
Custodial Funds are custodial in nature. They are used to account for assets held in an agency capacity for others and therefore cannot be used to support the City's programs. Custodial funds use the economic resources measure focus.
Cherrywood – Accounts for monies accumulated for payments of special assessment bonds which are financed by assessments placed on the Alameda County tax roll for the Cherrywood housing development.
39 City of San Leandro
Statement of Fiduciary Net Position
June 30, 2022
Private-Purpose Cherrywood
Trust Fund Custodial Fund
Current assets:
Cash and cash equivalents (Notes 2 and 17A) 2,418,665 $ 1,088,306 $ Cash and investments with fiscal agents (Notes 2 and 17A) 21 449,057 Accounts receivable 695 3,293
Interest receivable (18,324) 1,126
Total Current Assets 2,401,057 1,541,782
Noncurrent assets:
Capital assets (Note 17B):
Land 706,376 -
Depreciable assets, net 389,449 -
Total non-current assets 1,095,825 -
Total Assets 3,496,882 1,541,782
Current liabilities:
Accounts payable 9,300 1,178
Interest payable 418,682 -
Long-term debt - due in less than one year (Note 17C) 1,826,394 - Total current liabilities 2,254,376 1,178
Noncurrent Liabilities:
Long-term debt - due in more than one year (Note 17C) 29,178,096 - Total non current liabilities 29,178,096 -
Total Liabilities 31,432,472 1,178
Restricted for bondholders - 1,523,871
Held in trust for private purposes (27,935,590) -
Total Net Position $ 1,523,871 (27,935,590) $
See Accompanying Notes to Basic Financial Statements
LIABILITIES
NET POSITION
ASSETS
40 City of San Leandro
For the year ended June 30, 2022
Successor Agency
to the Redevelopment
Agency
Private-Purpose Cherrywood
Trust Fund Custodial Fund
Additions:
Property taxes $ 2,750,307 $ -
Special assessment - 469,738
Use of money and property (343,179) -
Investment income - (8,884)
Total Additions 2,407,128 460,854
Deductions:
Community development - 423,556
Depreciation (Note17B) 11,678 -
Payment to bondholders - 435,013
Debt service interest and fiscal agent fees 1,099,840 17,813 Administrative support - 45,519
Total Deductions 1,535,074 498,345
Change in Net Position 872,054 (37,491)
NET POSITION HELD IN TRUST
Net position (deficit) - beginning of year (28,807,644) 1,561,362 Net position (deficit) - end of year $ (27,935,590) $ 1,523,871 See Accompanying Notes to Basic Financial Statements
Statement of Changes in Fiduciary Net Position
41 City of San Leandro
Index to Notes to Basic Financial Statements
For the year ended June 30, 2022
NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES ...................................................................... 45 A. Financial Reporting Entity ........................................................................................................ 45 B. Government-Wide Financial Statements ................................................................................... 45 C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation ................... 46 D. Recognition of Interest Liability ............................................................................................... 48 E. Use of Restricted and Unrestricted Net Position ....................................................................... 48 F. Cash, Cash Equivalents and Investments .................................................................................. 48 G. Inventory ................................................................................................................................... 48 H. Leases ........................................................................................................................................ 48 I. Capital Assets ............................................................................................................................ 49 J. Long-Term Debt ......................................................................................................................... 50 K. Compensated Absences ............................................................................................................. 50 L. Property Taxes .......................................................................................................................... 50 M. Deferred Inflows/Outflows of Resources ................................................................................. 50 N. Use of Estimates........................................................................................................................ 51 O. Fair Value Measurements ......................................................................................................... 51 P. Property Held for Resale ........................................................................................................... 51 Q. Implementation of New Governmental Accounting Standards Board (GASB) Pronouncements ....................................................................................................... 52 NOTE 2 – CASH AND INVESTMENTS .............................................................................................. 53 A. Cash Deposits ............................................................................................................................ 53 B. Investments .............................................................................................................................. 53 NOTE 3 – LOANS RECEIVABLE ........................................................................................................ 58 NOTE 4 – LEASES .................................................................................................................................. 59 NOTE 5 – INTERFUND TRANSACTIONS ......................................................................................... 60 A. Interfund Receivables and Payables .......................................................................................... 60 B. Long-Term Advances ................................................................................................................ 60 C. Transfers .................................................................................................................................... 61 D. Internal Balances ....................................................................................................................... 61 NOTE 6 – CAPITAL ASSETS ............................................................................................................... 62 A. Government-Wide Financial Statements .................................................................................. 62 B. Funds Financial Statements ...................................................................................................... 64 NOTE 7 – LONG-TERM DEBT ............................................................................................................. 65 A. Governmental Activities Long-Term Debt .............................................................................. 65 B. Long-Term Debt of Business-Type and Proprietary Funds ..................................................... 70 C. Debt Covenants and Restrictions ............................................................................................. 72 NOTE 8 – COMPENSATED ABSENCES ............................................................................................. 72 43 City of San Leandro
Index to Notes to Basic Financial Statements
For the year ended June 30, 2022 (Continued)
NOTE 9 – UNEARNED REVENUE ....................................................................................................... 73 NOTE 10 – NET POSITION AND FUND BALANCES ...................................................................... 73 A. Net Position .............................................................................................................................. 73 B. Fund Balances .......................................................................................................................... 73 C. Encumbrances .......................................................................................................................... 74 D. Contingency Arrangements ...................................................................................................... 74 NOTE 11 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY ................................... 76 A. Fund Deficits ............................................................................................................................ 76 B. Expenditures in Excess of Appropriations ............................................................................... 76 NOTE 12 – INSURANCE ....................................................................................................................... 76 NOTE 13 – COMMITMENTS AND CONTINGENCIES .................................................................... 77 A. Sales Tax Reimbursement Agreement ...................................................................................... 77 NOTE 14 – PENSION PLAN ................................................................................................................... 78 A. Plan Descriptions and Summary of Balances by Plan ............................................................. 78 B. Information Common to the Miscellaneous and Safety Plans ................................................. 80 C. Miscellaneous (All Other) Agents Multiple-Employer Plan .................................................... 82 D. Safety Cost-Sharing Multiple-Employer Plan .......................................................................... 82 E. Other Information ...................................................................................................................... 83 F. Section 115 Pension Trust Fund ................................................................................................ 84 G. Reduction in CalPERS Discount Rate ...................................................................................... 84 NOTE 15 – OTHER POST EMPLOYMENT BENEFITS .................................................................. 85 A. Plan Description ....................................................................................................................... 85 B. Net OPEB Liability .................................................................................................................. 86 C. Changes in Net OPEB Liability ............................................................................................... 87 D. Sensitivity of the Net OPEB Liability to Changes in the Discount Rate and Healthcare Cost Trend Rates ................................................................................................ 87 E. OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB ..................... 88 NOTE 16 – JOINTLY GOVERNED ORGANIZATIONS .................................................................. 88 NOTE 17 – SUCCESSOR AGENCY ACTIVITIES ............................................................................ 89 A. Cash and Investments ............................................................................................................... 89 B. Capital Assets ........................................................................................................................... 89 C. Long-Term Debt Obligations ................................................................................................... 89 44 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the City of San Leandro, California, (City) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental agencies in the United States. The Governmental Accounting Standards Boards (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the City’s accounting policies are described below.
A. Financial Reporting Entity
The City of San Leandro, California (City) was incorporated in 1872 and is situated between the cities of Oakland and Hayward in the East Bay of the San Francisco Bay Area. The City operates under the Mayor-Council-Manager form of government and provides the following services: public safety (police, fire, disaster preparedness and hazardous waste disposal), highways and streets, sanitation, health services, public improvements, planning and zoning and general administration services.
The City is governed by a seven-member council elected by City residents. The City is legally separate and fiscally independent, which means it can issue debt, set and modify budgets and fees and sue or be sued. As required by generally accepted accounting principles, the financial statements include the financial activities of the City, the primary government, and its component units.
Component units are legally separate organizations for which the elected officials of the primary government are financially accountable. In addition, component units can be other organizations for which the primary government’s exclusion would cause the reporting entity’s financial statements to be misleading or incomplete.
The component units below are included in the City’s basic financial statements using the blended method since the governing body of these component units are substantially the same as the governing body of the City and these component units provide services entirely to the City.
The City of San Leandro Parking Authority (Parking Authority) was established to issue debt for downtown parking structures and lots. There are no financial activities to be accounted for in the Parking Authority Debt Service Fund in this fiscal year.
The San Leandro Public Financing Authority (Financing Authority) was formed to assist in the financing and refinancing of capital projects and other community related financing programs. The financial activities are accounted for in the San Leandro Public Financing Authority Debt Service Fund in the accompanying basic financial statements.
B. Government–Wide Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government and its components units. For the most part, the effect of interfund activity has been removed from these statements except in the case of interfund services provided and used, which are not eliminated in the consolidation process. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. Likewise, the primary government is reported separately from certain legally separate component units for which the primary government is financially accountable.
45 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)
The statement of activities demonstrates the degree to which the direct expenses of a given function or segments are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Our policy is to allocate indirect costs to a specific function or segment.
Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment, and 2) grants and contributions that are restricted to meeting the operational or capital requirements or a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues.
Separate fund financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements.
C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation The government–wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund and fiduciary fund financial statements.
Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.
Governmental fund financial statements are 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. For this purpose, the City considers revenues to be available if they are collected within 30 days of the end of the current fiscal period. The City considers sales taxes and property taxes as available if they are collected within 60 days after year end. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due.
Sales taxes, property taxes, licenses, and interest associated within the current period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessment receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when cash is received by the City. 46 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)
The City reports the following major governmental funds:
The General Fund is the government’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.
The Measure BB Special Revenue Fund – This fund accounts for the City's share of revenues earned and expenditure incurred under the City paratransit, streets and roads, and bike and pedestrian programs.
Capital Improvement Projects Capital Projects Fund accounts monies for major capital improvements projects not provided for in the other capital projects fund.
The Reconciliation of the Fund Financial Statements to the Government-Wide Financial Statements is provided to explain the differences created by the integrated approach of GASB Statement No. 34.
The City also reports the following major proprietary funds:
Water Pollution Control Plant Fund accounts for the City’s sewers which protect public health and preserve water quality.
Shoreline Fund accounts for various recreational facilities which include golf and marina berthing as well as providing food service facilities for the general public in an area connected to the San Francisco Bay.
A separate column representing internal service funds is also presented in these statements. However, internal service balances and activities have been combined with the governmental activities in the government-wide financial statements. The City’s Internal Service Funds account for Building Maintenance, Information Management Systems, Self-Insurance, and Equipment Maintenance which provides service to other departments of the City on a cost reimbursement basis.
Proprietary funds are accounted for using the “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all assets and liabilities (whether current or noncurrent) are included on the Statement of Net Position. The Statement of Revenues, Expenses and Changes in Net Position presents increases (revenues) and decreases (expenses) in total Net Position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred.
Operating revenues in the proprietary funds are those revenues that are generated from the primary operations of the fund. All other revenues are reported as non-operating revenues. Operating expenses are those expenses that are essential to the primary operations of the fund. All other expenses are reported as non-operating expenses.
The Fiduciary fund financial statements normally include a Statement of Net Position and a Statement of Changes in Fiduciary Net Position. The City's fiduciary funds represent a private purpose trust fund and a custodial fund. The City’s Funds includes the Cherrywood Fund accounts for monies accumulated for payments of special assessment bonds.
47 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)
D. Recognition of Interest Liability
In the government-wide financial statements, interest payable of long-term debt is recognized as the liability is incurred for governmental fund types as well as proprietary fund types.
In the fund financial statements, the Governmental fund types do not recognize the interest payable when the liability is incurred. Interest on long-term debt is recorded in the fund statement when payment is made. Proprietary fund types recognize the interest payable when the liability is incurred.
E. Use of Restricted and Unrestricted Net Position
When an expense is incurred for purposes for which both restricted and unrestricted net positions are available, the City’s policy is to apply restricted net position first.
F. Cash, Cash Equivalents and Investments
The City pools cash and investments from all sources, except the fiscal agent cash and investments, for the purpose of increasing income through investment activities. Interest income on investments is allocated on the basis of average month-end cash and investment balances in each fund. Cash and cash equivalents represent cash and investments and restricted cash and investments with an original maturity term of three months or less. Pooled cash and investments allocated to proprietary fund types are considered cash and cash equivalents since specific investments held in the City’s pooled cash and investments are not allocated to each fund.
The City invests in the California Local Agency Investment Fund (LAIF), which is part of the Pooled Money Investment Account operated by the California State Treasurer. LAIF funds are invested in high quality money market securities and are managed to insure the safety of the portfolio. A portion of LAIF’s investments are in structured notes and asset-backed securities. The remainder of the City’s investment portfolio is managed by Chandler Asset Management.
In accordance with GASB Statement No. 31, highly liquid money market investments with maturities of one year or less at time of purchase are stated at amortized cost.
G. Inventory
Inventory is held for consumption and is valued at average cost. Internal service fund supplies consist of materials and supplies for the various City vehicles (tires, batteries, etc.) and building maintenance, which are used for replacement parts for vehicle service and to maintain City buildings. Information management service inventory consists of postage for department use and a monthly count is performed to adjust this account to actual at the appropriate month-end.
H. Leases
A lease is defined as a contract that conveys control of the right to use another entity’s nonfinancial asset (the underlying asset) as specified in the contract for a period of time in an exchange or exchange-like transaction. Examples of nonfinancial assets include buildings, land, vehicles, and equipment. The City recognizes leases with an initial, individual value of $200,000 or more. 48 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)
Lessor - The City records two leases as the lessor. The City recognizes a lease receivable and a deferred inflow of resources in the General Fund, Shoreline Enterprise Fund, Governmental Activities and Business-Type Activities statements.
At the commencement of a lease, the City initially measures the lease receivable at the present value of payments expected to be received during the lease term. Subsequently, the lease receivable is reduced by the principal portion of lease payments received. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date. Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease term.
Key estimates and judgments include how the City determines (1) the discount rate it uses to discount the expected lease receipts to present value, (2) lease term, and (3) lease receipts as follows:
• The City uses its estimated incremental borrowing rate as the discount rate for leases. • The lease term includes the noncancellable period of the lease. • Lease receipts included in the measurement of the lease receivable is composed of fixed payments from the lessee.
The City monitors changes in circumstances that would require a remeasurement of its lease, and will remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the lease receivable.
I. Capital Assets
Contributed capital assets are valued at their estimated fair market value on the date contributed. Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are recorded at acquisition value. All other capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available. City policy has set the capitalization threshold for reporting capital assets at $7,500. Depreciation is recorded on a straight-line basis over estimated useful lives of the assets as follows:
Buildings 50 years
Improvements other than buildings 20 years
Machinery and equipment 5-15 years
Licensed Vehicles 3-15 years
Infrastructure 20-50 years
The City defines infrastructure as the basic physical assets that allow the City to function. The assets include streets, sewer, and park lands. Each major infrastructure system can be divided into subsystems.
For example the street system can be subdivided into pavement, curb and gutters, sidewalks, medians, streetlights, landscaping and land. These subsystems were not delineated in the basic financial statements. The appropriate operating department maintains information regarding the subsystems.
Interest accrued during capital assets construction, if any, is capitalized for the business-type and proprietary funds as part of the asset cost.
49 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)
For all infrastructure systems, the City elected to use the Basic Approach as defined by GASB Statement No. 34 for infrastructure reporting. Original costs were developed in one of three ways: (1) historical records; (2) standard unit costs appropriate for the construction/acquisition date; or (3) present cost indexed by a reciprocal factor of the price increase from the construction/acquisition date to the current date. The accumulated depreciation, defined as the total depreciation from the date of construction/acquisition to the current date on a straight line, un-recovered cost method was computed using industry accepted life expectancies for each infrastructure subsystem. The book value was then computed by deducting the accumulated depreciation from the original cost.
J. Long-Term Debt
In Government-Wide Financial Statements, long-term debt and other financed obligations are reported as liabilities in the appropriate activities.
Bond premiums and discounts are deferred and amortized over the life of the bonds using the effective interest method. Bonds Payable are reported net of the applicable premium or discount.
In Fund Financial Statements long-term debt is not presented but is instead shown in the Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position.
K. Compensated Absences
Vested vacation, sick leave, compensatory time, and related benefits are accrued as appropriate. For governmental funds, compensated absence obligations are recorded in the appropriate governmental funds when due. The portion not currently due is recorded in the government-wide financial statements. For enterprise funds, compensated absences are expensed when earned by employees. At year-end, the accrued but unpaid compensated absence obligations are recorded as current and non-current liabilities in the appropriate enterprise funds.
L. Property Taxes
Property taxes are placed on lien January 1 for the following fiscal year. Taxes are payable in two installments, due on November 1 and February 1, becoming delinquent on December 10 (for November) and April 10 (for February), respectively. The Alameda County Tax Collector bills and collects property taxes and allocates a portion to the City. Property tax revenues are recognized in the fiscal year, for which the taxes have been levied, provided they become available. In January 1994, the City elected to continue collection of interest and penalties on delinquent taxes and recognizes these revenues when available. Available means when due or past due and collected within the current period, or expected to be collected soon thereafter, and to be used to pay liabilities of the current period.
M. Deferred Inflows/Outflows of Resources
In addition to assets, the statement of net position or balance sheets report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets or fund balance that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. 50 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)
In addition to liabilities, the statement of net position or balance sheets report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets or fund balance that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.
N. Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires City management to make estimates and assumptions that affect certain amounts and disclosures.
Accordingly, actual results could differ from those estimates.
O. Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The fair value hierarchy categorizes the inputs to valuation techniques used to measure fair value into three levels based on the extent to which inputs used in measuring fair value are observable in the market.
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 inputs are inputs – other than quoted prices included within level 1 that are observable for an asset or liability, either directly or indirectly.
Level 3 inputs are unobservable inputs for an asset or liability.
If the fair value of an asset or liability is measured using inputs from more than one level of the fair value hierarchy, the measurement is considered to be based on the lowest priority level input that is significant to the entire measurement.
P. Property Held for Resale
The City purchased property with the intent to resell the property to an income eligible first-time home buyer. During fiscal year ended June 30, 2022, the property was sold. 51 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)
Q. Implementation of New Governmental Accounting Standards Board (GASB) Pronouncements Management adopted the provisions of the following Governmental Accounting Standards Board (GASB) Statements which became effective during the year ended June 30, 2022.
In June 2017, GASB issued Statement No. 87, Leases. The objective of this Statement is to better meet the information needs of financial statement users by improving accounting and financial reporting for leases by governments. This Statement requires recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. It establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. Under this Statement, a lessee is required to recognize a lease liability and an intangible right-to-use lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources, thereby enhancing the relevance and consistency of information about governments’ leasing activities.
The Statement is effective for the reporting periods beginning after June 15, 2021, or fiscal year 2021-22.
As part of the implementation of this Statement, the City has accounted for certain lessor transactions, which required the restatement of beginning fund balances of the leases receivable and deferred inflows in the amounts of $3,373,837 and $631,840 in the General Fund and Shoreline Enterprise Fund, respectively. The net effect on beginning net position and fund balances is zero. See the leases disclosure in Note 4.
In June 2018, GASB issued Statement No. 89, Accounting for Interest Cost Incurred Before the End of a Construction Period. The objectives of this Statement are to enhance the relevance and comparability of information about capital assets and the cost of borrowing for a reporting period and to simplify accounting for certain interest costs. This Statement requires that interest cost incurred before the end of a construction period be recognized as an expense in the period in which the cost is incurred for financial statements prepared using the economic resources measurement focus. As a result, interest cost incurred before the end of a construction period will not be included in the historical cost of a capital asset reported in the financial statements. The Statement is effective for reporting periods beginning after December 15, 2020, or fiscal year 2021-22. GASB Statement No. 89 did not have an effect on the City’s fiscal year 2021-22 financial statements.
In March 2020, GASB issued Statement No. 93, Replacement of Interbank Offered Rates. The primary objective of this Statement is to address accounting and financial reporting implications that result from the replacement of an interbank offered rate. The provisions of this Statement were implemented during fiscal year 2022. The implementation had no effect on the financial statements.
In June 2020, GASB issued Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans. The primary objectives of this Statement are to (1) increase consistency and comparability related to the reporting of fiduciary component units in circumstances in which a potential component unit does not have a governing board and the primary government performs the duties that a governing board typically would perform; (2) mitigate costs associated with the reporting of certain defined contribution pension plans, defined contribution other postemployment benefit (OPEB) plans, and employee benefit plans other than pension plans or OPEB plans as fiduciary component units in fiduciary fund financial statements; and (3) enhance the relevance, consistency, and comparability of the accounting and financial reporting for Internal Revenue Code (IRC) Section 457 deferred compensation plans that meet the definition of a pension plan and for benefits provided through those plans. The provisions of this Statement were implemented during fiscal year 2022. This Statement had no material effect on the financial statements. 52 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 2 – CASH AND INVESTMENTS
The City maintains a cash and investment pool, which includes cash balances and authorized investments of all funds, which the Finance Director invests to enhance interest earnings. The pooled interest earned is allocated to the funds based on average daily cash and investment balance in these funds.
A. Cash Deposits
The carrying amount of the City’s cash deposits is $12,326,966 at June 30, 2022. Bank balances before reconciling items were $13,385,037, at that date, the total amount of which was insured or collateralized with securities held by the pledging financial institutions in the City’s name as discussed below.
The California Government Code requires California banks and savings and loan associations to secure the City’s cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest in such collateral superior to those of a general creditor. Thus, collateral for cash deposits is considered to be held in the City's name.
The fair value of pledged securities must equal at least 110% of the City's cash deposits. California law also allows institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the City’s total cash deposits. The City may waive collateral requirements for cash deposits, which are fully insured up to $250,000 by the Federal Deposit Insurance Corporation. The City, however, has not waived the collateralization requirements.
The City follows the practice of pooling cash and investments of all funds, except for funds required to be held by fiscal agents under the provisions of bond indentures, and investments held in the City's Section 115 pension trust. Interest income earned on pooled cash and investments is allocated on an accounting period basis to the various funds based on the period-end cash and investment balances. Interest income from cash and investments with fiscal agents is credited directly to the related fund.
B. Investments
Under the provisions of the City’s investment policy, and in accordance with California Government Code, the City’s cash and investments as of June 30, 2022, are classified as follows:
Statement of Net Position:
Cash and investments 210,429,029 $
Restricted cash and investments 11,031,899
Fiduciary Funds:
Cash and investments 3,506,971
Cash and investments with fiscal agents 449,078
Total cash and investments 225,416,977 $
Cash and investments as of June 30, 2022, are classified as follows:
Deposits with financial institutions 12,326,996 $
Investments 213,089,981
Total cash and investments 225,416,977 $
53 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 2 – CASH AND INVESTMENTS (Continued)
Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, there is a greater sensitivity of its fair value to changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer-term investments and by timing cash flow from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide cash flow and liquidity needed for operations. In accordance with the Policy, the City manages its exposure to declines in fair values by limiting the weighted average maturity of its investment portfolio to 5 years or less. The City is in compliance with this provision of the Policy.
Information about the sensitivity of the fair values of the City’s investments to market interest rate fluctuations is provided by the following table that shows the distribution of the City’s investment by maturity:
Investment Type Fair Value
12 Months or
Less 13 to 24 Months 25 to 60 Months
$ 33,541,703 $ 8,807,997 $ 13,224,547 $ 11,509,159
Money Market Fund 32,993 32,993 - -
U.S. Treasury Notes 58,144,396 15,248,943 15,314,880 27,580,573 Local Agency Investment Fund (LAIF) 73,273,005 73,273,005 - - Medium-Term Notes 26,576,498 6,225,192 5,979,318 14,371,988 Asset Backed Securities 6,089,629 - 156,105 5,933,524
Supranationals 1,957,020 1,957,020 - -
Commercial Paper 1,993,780 1,993,780 - -
PARS Pension Trust - Mutual Funds 5,641,874 5,641,874 - - Held by fiscal agent:
U.S. Treasury Money Market Funds 5,839,083 5,839,083 - - Total $ 213,089,981 $ 119,019,887 $ 34,674,850 $ 59,395,244 Federal Agency Securities
54 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 2 – CASH AND INVESTMENTS (Continued)
Investments Authorized by the City’s Investment Policy and California Government Code The table below identifies the investment types that are authorized for the City by the City’s Investment Policy. The table also identifies certain provisions of the California Government Code that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustees that are governed by the provisions of the related bond documents, or investments held in the PARS Section 115 pension trust.
Investment Type Maximum Maturity Maximum Percentage of Portfolio U.S. Treasury Obligations 5 years None
U.S. Agency Securities 5 years None
Bankers Acceptances 180 days 40%
Commercial Paper 270 days 25%
Negotiable Certificate of Deposit 5 years 30%
Repurchase Agreements 1 year 20%
Reverse Repurchase Agreements 92 days 20%
Medium-Term Notes 5 years 30%
Mutual Funds N/A 20%
Money Market Mutual Funds N/A 20%
Local Agency Investment Fund (LAIF) N/A $75 million per account Passbook Accounts 5 years None
City Issued Securities N/A None
Supranational Securities 5 years 30%
Asset Backed Securities 5 years 20%
Mortgage Backed/Pass-Through Securities 5 years 20%
Collateralized Mortgage Obligations 5 years 20%
Other Investment Pools N/A None
Investments in Local Agency Investment Fund
The City invests in the Local Agency Investment Fund (LAIF), a State of California external investment pool. The fair value is calculated by multiplying the account balance with LAIF times a fair value factor of 0.987125414 which is determined by LAIF. This fair value factor was determined by dividing all LAIF participants’ total aggregate amortized cost by total aggregate fair value.
The City’s investments with Local Agency Investment Funds (LAIF) at June 30, 2022, included a portion of the pool funds invested in Structured Notes and Asset-Backed Securities. These investments included the following:
• Structured Notes are debt securities (other than asset-backed securities) whose cash-flow characteristics (coupon rate, redemption amount, or stated maturity) depend on one or more indices and/or that have embedded forwards or options.
• Asset-Backed Securities, the bulk of which are mortgage-backed securities, entitle their purchasers to receive a share of the cash flows from a pool of assets such as principal and interest repayments from a pool of mortgages (such as CMOs) or credit card receivables. 55 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 2 – CASH AND INVESTMENTS (Continued)
Concentration of Credit Risk
The City’s policy states that the investment portfolio shall be designed with the objective of attaining a rate of return throughout budgetary and economic cycles, commensurate with the City’s investment risk constraints and the cash flow characteristic of the portfolio. Purchases of mutual funds must not exceed 20% of the value of the portfolio. Investments in U.S. agencies exceeded 5% of total portfolio, and Federal agency investments exhibited below exceeded 5% percent or more of the total investments in any one issuer:
US Government Agency Securities Amount Invested
Percentage of
Investments
Federal agency securities:
Federal Home Loan Mortgage Corporation (FHLMC) 9,764,598 $ 13.92% Federal Home Loan Bank (FHLB) 8,378,207 11.94%
Federal National Mortgage Association (FNMA) 7,526,359 10.73% Fannie Mae 5,951,639 8.48%
Total $ 31,620,803 45.07%
Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating required by (where applicable) the California Government Code, the City’s investment policy, or debt agreements, and the actual rating as of year-end for each investment type.
The City’s policy requires that mutual funds must have the highest rating provided by not less than two of the three largest nationally recognized rating organizations.
Fair
Minimum
Legal Exempt From
Investment Type Value Rating Disclosure Not Rated A-1 AAA AA+ Federal Agency Securities $ N/A - 33,541,703 $ $ - $ - $ 33,541,703 - $ Money Market Fund 32,993 N/A 32,993
U.S. Treasury Notes 58,144,396 N/A 58,144,396
Local Agency Investment Fund 73,273,005 N/A 73,273,005
Medium-Term Notes 26,576,498 A 2,115,043
Asset Backed Securities 6,089,629 AAA 1,841,488 4,248,141 Supranationals 1,957,020 AA 1,957,020
Commercial Paper 1,993,780 A-1+ 1,993,780
PARS Pension Trust - Mutual Funds 5,641,874 N/A 5,641,874 Held by fiscal agent:
U.S. Treasury Money Market 5,839,083 A 5,839,083
Total $ 213,089,981 $ 63,786,270 $ 75,147,486 $ 1,993,780 $ 12,044,244 $ 35,656,746 AA AA- A+ A AMedium-Term Notes $ 3,285,599 $ 1,500,440 $ 6,387,200 $ 5,901,750 $ 7,386,466 56 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 2 – CASH AND INVESTMENTS (Continued)
Fair Value Hierarchy
The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure fair value of the assets. 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 following is a summary of the fair value hierarchy of the fair value of investments of the City as of June 30, 2022:
Level 1 Level 2 Total
Investments By Fair Value Level:
$ - $ 33,541,703 $ 33,541,703
U.S. Treasury Notes 58,144,396 58,144,396
Medium-Term Notes 26,576,498 26,576,498
Asset Backed Securities 6,089,629 6,089,629
Supranationals 1,957,020 1,957,020
Commercial Paper 1,993,780 1,993,780
Total Investments - $ $ 128,303,026 128,303,026
Investments Exempt from Fair Value Hierarchy:
Local Agency Investment Fund (LAIF) 73,273,005
PARS Pension Trust - Mutual Funds 5,641,874
Investments Measured at Amortized Cost:
Held by fiscal agent:
U.S. Treasury Money Market Funds 5,839,083
Money Market Fund 32,993
Total $ 213,089,981
Federal Agency Securities
Investments classified in Level 2 of the fair value hierarchy, are valued using matrix pricing techniques maintained by various pricing vendors. Matrix pricing is used to value securities based on the securities’ relationship to benchmark quoted prices. The California Local Agency Investment Fund (LAIF) is valued based on the fair value factor provided by the Treasurer of the State of California, which is calculated as fair value divided by the amortization cost of the investment pool and is exempt from the Fair Value hierarchy. Fair value is defined as the quoted market value on the last trading day of the period. These prices are obtained from various pricing sources by the custodian bank.
Public Agency Retirement Services – Section 115 Pension Trust In June 2021, the City Council authorized the establishment of a Section 115 Pension Trust with the Public Agency Retirement Services (PARS). The trust is an irrevocable trust, and is used to set aside funds for future pension contributions. During fiscal year ended June 30, 2022, the City contributed $6,500,000 to the trust. As of June 30, 2022, the fair value of the trust was $5,641,874. 57 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 3 – LOANS RECEIVABLE
At June 30, 2022, the City had loans receivable in the following funds:
Governmental Funds:
General Fund 1,176,802 $
Non Major Special Revenue Funds:
Affordable Housing Asset Fund 19,031,851
Community Development Block Grant (CDBG) 233,324
HOME 4,363,426
Housing In-Lieu 723,711
Less allowance for uncollectible loans (23,705,328)
Total Loans Receivable, net $ 1,823,786
At June 30, 2022, the City was owed in the General Fund, $392,252 for a loan made by the City to Alameda County Industries Inc. (ACI). The loan is to refurbish ACI's Materials Recovery Facility in order to expand operations to take in more solid waste, recyclable, and green waste tonnage. The loan is evidenced by a promissory note with a term of 10 years and is to be repaid in full on July 1, 2025. The interest rate is 2.5% per annum.
At June 30, 2022, the City was owed in the General Fund, $10,511 for loans made by the City to employees as part of the Employee Computer Purchase Loan Program. The loans are to assist regular full-time employees after completion of the one-year probationary period, “permanent” part-time employees as defined in the relevant MOU and City Council Members with the purchase of a home computer or laptop. The loans range from $500 to $3,000, are repaid over a 1 or 2 year period, and are interest free. Payments on the loans are handled as standard payroll deductions.
At June 30, 2022, the City was owed in the General Fund, $63,125 for a loan made by the City to San Leandro Improvement Agency. The loan is to fund Downtown San Leandro capital improvements. The loan is evidenced by a promissory note with a term of 10 years. The interest rate is 3% per annum.
At June 30, 2022, the City was owed in the General Fund, $382,987 for a loan made by the City to the Historic BAL Theatre. The loan is to promote the performing arts, music, and City's culture, which is vital to the public health and economic vitality of the City. The loan is evidenced by a promissory note with a term of 30 years. The interest rate is 3% per annum.
At June 30, 2022, the City was owed in the General Fund, $327,927 for a loan made by the City to MTLG, LLC. The loan is for litigation costs between the City of San Leandro and MTLG, LLC for a proposed wind energy conversion project. The loan is evidenced by a promissory note in the amount of the loan and a deed of trust with a term of 10 years. The interest rate is 2% per annum. 58 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 3 – LOANS RECEIVABLE (Continued)
During fiscal year 2022, the City was owed in its Affordable Housing Asset Special Revenue Fund, $19,031,851 which includes (1) loans made to the City property owners who meet the HUD requirements for financial assistance for property improvements and first time home buyer loans; (2) a loan made to Ruth Rogers and Sara Bagwell; (3) a loan made to Eden Housing, Inc.; (4) a loan made to San Leandro Senior Housing; (5) a loan made to Citizens’ Housing Corporation for property improvements; and (6) a loan made to Mercy Housing for the construction of the Casa Verde. The total loan receivable amount was reduced by an allowance for uncollectible loans in the amount of $18,384,867 leaving a balance of $646,984 as of June 30, 2022.
At June 30, 2022, the City was owed in its Community Development Block Grant (CDBG) Special Revenue Fund, $233,324 for various housing assistance loans made by the City. The terms of repayment vary. All of the loans receivable were reduced by allowance for uncollectible loans.
At June 30, 2022, the City was owed in its HOME Special Revenue Fund, $4,363,426 which includes (1) two housing assistance loans made by the City to Citizens’ Housing Corporation; (2) a loan made to Estabrook Senior Housing for construction of a senior housing facility; (3) a loan made to Hello Housing for the rehabilitation of a single family home; (4) a housing assistance loan made to Allied Housing. The terms of repayment vary. All of the loans receivable were reduced by allowance for uncollectible loans.
At June 30, 2022, the City was owed in its Housing In-Lieu Special Revenue Fund, $723,711 for a housing assistance loan made by the City to the Estabrook Senior Housing for low-moderate housing construction. The terms of repayment vary. The entire loan receivable was reduced by allowance for uncollectible loans.
NOTE 4 – LEASES
The City from to time to time engages in lease arrangements allowing the right for others to use various owned land and buildings for the public benefit. As of June 30, 2022, these leases receivable and related deferred inflows of resources consisted of the following:
Lessor
Original Lease
Date
Expiration Date
Including Options
Monthly
Revenue as of
June 30, 2022
Lease Receivable
Balance at
June 30, 2022
Deferred Inflow of
Resources at
June 30, 2022
Governmental Funds
General Fund
Alameda County Fire Department -
Fire Training Center 7/1/2013 6/30/2038 $ 14,198 $ 3,251,608 $ 3,175,376 Proprietary Funds
Shoreline Fund
New Cingular Wireless PCS, LLC 5/16/2005 8/31/2032 4,626 584,017 575,676 $ 18,824 $ 3,835,625 $ 3,751,052
59 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 4 – LEASES ( Continued)
On June 25, 2013, the City began leasing property to the Alameda County Fire Department with monthly payments ranging from $14,695 to $24,619 through the end of the lease term. Lease payments are to be increased by 3.5% every year on July 1, until the end of the lease on June 30, 2038. The City recognized $122,229 in lease revenue and $48,145 in interest revenue in fiscal year 2022 related to this lease. Also, the City has a deferred inflow of resources associated with this lease that will be recognized as revenue over the lease term.
On May 16, 2005, the City began leasing property to New Cingular Wireless PCS, LLC with monthly payments ranging from $4,492 to $5,640 through the end of the lease term. Lease payments are to be increased by 2% every year on August 1, until the end of the lease on August 31, 2032. The City recognized $47,823 in lease revenue and $7,425 in interest revenue in fiscal year 2022 related to this lease. Also, the City has a deferred inflow of resources associated with this lease that will be recognized as revenue over the lease term.
NOTE 5 – INTERFUND TRANSACTIONS
A. Interfund Receivables and Payables
At June 30, 2022, the City had the following short-term receivables and payables:
Receivable Fund Payable Fund Amount
General Fund Measure BB Special Revenue Fund $ 9,830,885 Non-Major Governmental Funds 1,364,821
Storm Water Utility Enterprise Fund 1,892,989
Total $ 13,088,695
The City has recorded due to/due from all funds requiring cash at the end of June 30, 2022. The funds that had deficit year-end balances will be repaid back to the General Fund during the 2022-23 fiscal year.
B. Long-Term Advances
Long-term advances to be repaid out of future earnings or charges at June 30, 2022 consisted of:
Receivable Fund Amount
General Fund Shoreline Enterprise Fund $ 6,041,796
Water Pollution Control Plant
Enterprise Fund General Fund 1,153,387
Total $ 7,195,183
Payable Fund
The City Council authorized General Fund loans to the Shoreline Enterprise Fund for capital improvements at the Marina and Golf Course. The loans are to be paid over 30 years with an annual interest accrual rate of 5%. Principal payments are made annually provided the fund has sufficient resources. The balance as of June 30, 2022 was $2,706,024 and $3,335,772 for the Marina and the Golf Course, respectively, for a total of $6,041,796.
60 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 5 – INTERFUND TRANSACTIONS (Continued)
The City Council authorized a loan to the General Fund from the Water Pollution Control Plant in 2011 for the partial payment of the Public Safety Side Fund Obligation. The $6,000,000 loan was to pay-down the CalPERS Public Safety Side Fund with a long-term adjustable rate of 4% or less, annually, for 13 years. As of June 30, 2022, the outstanding amount was $1,153,387.
C. Transfers
Transfers during the fiscal year ended June 30, 2022 comprised the following:
Capital Improvement
General Capital Projects Non-Major
Fund Fund Governmental Funds Total
Measure BB Special
Revenue Fund - $ $ - $ 1,173,476 $ 1,173,476
Capital Improvement
Capital Projects Fund 3,517,830 - - 3,517,830
Non-major
Governmental Funds 3,088,426 - 1,900,000 4,988,426
Internal Service Funds - 478,693 - 478,693
Total $ 6,606,256 $ 478,693 $ 3,073,476 $ 10,158,425
Transfers Out:
Transfers In
The City Council authorized transfers from various funds for fiscal year 2021-22 to the following accounts and projects:
Capital Improvement Fund 1,142,830 $ Street Improvement Projects Capital Improvement Fund 600,000 City Building Major Maintenance Capital Improvement Fund 625,000 Parks Improvement Projects Capital Improvement Fund 1,150,000 Police Headquarters and others Measure BB Special Revenue Fund 1,173,476 Separation of Activities between Funds Non-major Governmental Funds 50,000 Shuttle Improvements Non-major Governmental Funds 4,235,826 Street Maintenance Non-major Governmental Funds 550,000 Parking
Non-major Governmental Funds 152,600 Planning Fees
Information Management Services Fund 300,000 Financial Software System Equipment Maintenance Fund 178,693 Vehicle Purchase
Total $ 10,158,425
D. Internal Balances
Internal balances are presented only in the government-wide financial statements. They represent the net interfund receivables and payables remaining after the elimination of all such balances within government and business-type activities.
61 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 6 – CAPITAL ASSETS
A. Government-Wide Financial Statements
At June 30, 2022, the City’s capital assets consisted of the following:
Governmental Business-Type
Activities Activities Total
Non-depreciable assets:
Land 16,471,405 $ 5,234,310 $ 21,705,715 $
Construction in Progress 14,743,502 6,525,557 21,269,059 Total non-depreciable assets 31,214,907 11,759,867 42,974,774 Depreciable assets:
Buildings 82,705,552 68,814,409 151,519,961
Improvements 10,750,759 113,416 10,864,175
Machinery and Equipment 15,086,312 8,483,324 23,569,636 Licensed Vehicles 15,796,359 106,348 15,902,707
Infrastructure:
Park Irrigation Systems 4,668,420 - 4,668,420
Medians Irrigation 10,145,502 - 10,145,502
Park Structures 12,656,615 - 12,656,615
Roadway 255,965,326 - 255,965,326
Sidewalk 74,895,578 - 74,895,578
Curb and Gutter 37,447,790 - 37,447,790
Underground Piping and Storm Drain 242,722 10,571,720 10,814,442 Water Pollution Plant - 5,468,993 5,468,993
Total depreciable assets 520,360,935 93,558,210 613,919,145 Less accumulated depreciation (374,450,820) (20,712,307) (395,163,127) Total depreciable assets, net 145,910,115 72,845,903 218,756,018 Total capital assets $ 177,125,022 $ 84,605,770 $ 261,730,792 62 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 6 – CAPITAL ASSETS (Continued)
The following is a summary of capital assets for governmental activities:
Balance Balance
July 1, 2021 Additions Retirements Transfers June 30, 2022 Non-Depreciable Assets:
Land $ 16,471,405 $ - $ - $ 16,471,405 - $
Construction in progress 22,486,170 3,628,633 (11, - 371,301) 14,743,502 Total Non-Depreciable Assets 38,957,575 3,628,633 (11, - 371,301) 31,214,907 Depreciable Assets:
Buildings 82,705,552 - - 82,705,552 -
Improvements 10,704,873 - - 45,886 10,750,759
Machinery and equipment 12,902,859 1,417,973 (55,565) 821,045 15,086,312 Licensed vehicles 16,089,801 543,753 (837,195) 15,796,359 - Infrastructure 385,549,378 - (31,795) 10,504,370 396,021,953 Total Depreciable Assets 507,952,463 1,961,726 (924,555) 11,371,301 520,360,935 Accumulated Depreciation:
Buildings (31,378,391) (1,525,294) - (32,903,685) -
Improvements (5,604,250) (215,556) - (5,819,806) -
Machinery and equipment (9,649,896) (623,339) 29,599 (10,243,636) - Licensed vehicles (10,080,236) (1,416,429) 837,194 (10,659,471) - Infrastructure (301,547,159) (13,308,857) 31,794 - (314,824,222) Total Accumulated Depreciation (358,259,932) (17,089,475) 898,587 - (374,450,820) Depreciable Assets, Net 149,692,531 (15,127,749) (25,968) 11,371,301 145,910,115 Total Governmental Activities
Capital Assets, Net $ 188,650,106 $ (11,499,116) $ (25,968) $ 177,125,022 - $ Governmental activities depreciation expenses for capital assets for the year ended June 30, 2022, are as follows:
General Government $ 472,155
Public Safety 629,540
Engineering and Transportation 12,590,802
Recreation and Human services 1,573,850
Community Development 472,155
Subtotal 15,738,502
Capital assets held by the City's Internal Service Funds 1,350,973 Total Depreciation Expense $ 17,089,475
63 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 6 – CAPITAL ASSETS (Continued)
The following is a summary of capital assets for business-type activities:
Balance Balance
July 1, 2021 Additions Retirements Transfers June 30, 2022 Non-Depreciable Assets:
Land 5,234,310 $ - $ $ - $ - $ 5,234,310
Construction in progress 2,646,777 4,728,188 - (849,408) 6,525,557 Total Non-Depreciable Assets 7,881,087 4,728,188 - (849,408) 11,759,867 Depreciable Assets:
Buildings 68,496,577 - - 317,832 68,814,409
Improvements 113,416 - - - 113,416
Machinery and equipment 8,589,825 (106,501) - - 8,483,324 Licensed vehicles 152,989 16,956 (63,597) - 106,348
Infrastructure 15,528,000 (18,863) - 531,576 16,040,713 Total Depreciable Assets 92,880,807 16,956 (188,961) 849,408 93,558,210 Accumulated Depreciation:
Buildings (13,026,838) (1,432,986) - (14,459,824) -
Improvements (113,416) - - - (113,416)
Machinery and equipment (3,761,849) (142,826) 91,811 (3,812,864) - Licensed vehicles (98,018) (5,606) 63,872 - (39,752)
Infrastructure (1,980,081) (306,370) - (2,286,451) -
Total Accumulated Depreciation (18,980,202) (1,887,788) 155,683 (20,712,307) - Total Business-Type Activities
Capital Assets, Net $ 2,857,356 81,781,692 $ (33,278) $ - $ 84,605,770 $ B. Funds Financial Statements
The Funds Financial Statements do not present General Government Capital Assets but are shown in the Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position.
64 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 7 – LONG-TERM DEBT
A. Governmental Activities Long-Term Debt
Summary of changes in governmental activities long-term debt for the year ended June 30, 2022, follows:
Balance Balance Due within Due in more
Governmental Activity Debt: June 30, 2021 Retirements June 30, 2022 one year than one year Pension Obligation Bonds:
2012 Taxable Pension Obligation Bonds $ 6,570,000 $ (2,000,000) $ 4,570,000 $ 2,185,000 $ 2,385,000 Lease Revenue Bonds:
2013 Refunding Lease Revenue Bonds
City portion 5,352,000 (681,000) 4,671,000 710,000 3,961,000 2016 Refunding Lease Revenue Bonds 10,520,000 (970,000) 9,550,000 1,015,000 8,535,000 2018 Lease Revenue Bonds 18,905,000 - 18,905,000 18,905,000 - Total Governmental Activity Debt 41,347,000 (3,651,000) 37,696,000 3,910,000 33,786,000 Direct Borrowings:
Capital Leases:
2016 Bank of America Equipment Lease 4,294,107 (333,816) 3,960,291 340,864 3,619,427 Total Capital Leases 4,294,107 (333,816) 3,960,291 340,864 3,619,427 Other Debt
HUD 108 Loan - Guarantee Loan -
Senior Center 1,188,000 (132,000) 1,056,000 132,000 924,000 Total Other Debt 1,188,000 (132,000) 1,056,000 132,000 924,000 Total Government Activity Debt 46,829,107 (4,116,816) 42,712,291 4,382,864 38,329,427 Plus unamortized:
Discount (2012 POB) (29,087) 10,119 (18,968) (10,119) (8,849) Premium (2013 RLRB) 134,239 (19,888) 114,351 19,888 94,463 Premium (2016 RLRB) 1,310,827 (163,853) 1,146,974 163,853 983,121 Premium (2018 LRB) 1,178,416 (43,645) 1,134,771 43,645 1,091,126 Total General Long-term Obligations $ 49,423,502 $ (4,334,083) $ 45,089,419 $ 4,600,131 $ 40,489,288 65 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 7 – LONG-TERM DEBT (Continued)
2012 Taxable Pension Obligation Bonds
In 2012, the City issued $18,305,000 principal amount of 2012 Taxable Pension Obligation Bonds (2012 POB). The purpose of the 2012 POB was to refinance the “side fund” obligations of the City to CalPERS with respect solely to the Public Safety Plan. Side funds with CalPERS are retired over a fixed term with a fixed amortization schedule based on CalPERS actuarial earnings assumption rate (7.65%). 2012 POB principal is due annually on December 1 and interest is due semi-annually on June 1 and December 1 through June 2024. Debt service is payable from available City resources.
The 2012 POB are general obligations of the City, payable solely from any legally available moneys or funds of the City. The bond covenants contain events of default that require the revenue of the City to be applied by the Trustee as specified in the terms of the agreement if any of the following conditions occur:
default on debt service payments; the failure of the City to observe or perform the conditions, covenants, or agreement terms of the debt; bankruptcy filing by the City; or if any court or competent jurisdiction shall assume custody or control of the City. There were no such events during the fiscal year ending June 30, 2022.
At June 30, 2022, future debt service requirements for the City’s portion of the 2012 POB follows:
For The Year
Ending June 30 Principal Interest Total
2023 2,185,000 $ 247,716 $ 2,432,716 $
2024 2,385,000 132,127 2,517,127
$ 379,843 4,570,000 $ 4,949,843 $
2013 Refunding Lease Revenue Bonds
In April 2013, the City issued $8,883,000 principal amount of 2013 Refunding Lease Revenue Bonds (2013 RLRB). The purpose of the 2013 RLRBs was to refund and retire the City’s 2003 COPs and 2001 COPs. The 2013 RLRBs bear interest rates ranging from 2.00% to 5.00% and are payable semiannually on each June 1 and December 1. Principal payments are payable annually on December 1.
The 2013 RLRBs are general obligations of the City, payable solely from and secured by Revenues and certain funds and accounts held under the Indenture. The bond covenants contain events of default that may result in the termination of the lease, collection of rent due and other monetary charges but do not terminate the City’s right to possession of the leased property as applied by the Trustee and specified in the terms of the agreement if any of the following conditions occur: default on debt service payments; the failure of the City to observe or perform the conditions, covenants, or agreement terms of the debt; bankruptcy filing by the City; or if any court or competent jurisdiction shall assume custody or control of the City. There were no such events occurred during the fiscal year ending June 30, 2022. 66 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 7 – LONG-TERM DEBT (Continued)
At June 30, 2022, future debt service requirements for the City’s portion of the 2013 RLRB follows:
For The Year
Ending June 30 Principal Interest Total
2023 710,000 $ 163,996 $ 873,996 $
2024 736,000 137,836 873,836
2025 762,000 113,017 875,017
2026 789,000 86,351 875,351
2027 824,000 51,944 875,944
2028 850,000 23,644 873,644
$ 576,788 4,671,000 $ 5,247,788 $
2016 Refunding Lease Revenue Bonds
In fiscal year 2016-17, the San Leandro Public Financing Authority issued $14,125,000 principal amount of 2016 Refunding Lease Revenue Bonds (2016 RLRB). The purpose of the 2016 RLRBs was to refinance the City’s 2007 COPs. The 2016 RLRBs bear interest rates ranging from 2.0% to 5.0% and are payable semiannually on each May 1 and November 1. Principal payments are payable annually on November 1.
The 2016 RLRBs are general obligations of the City, payable solely from and secured by Revenues and certain funds and accounts held under the Indenture. The bond covenants contain events of default that may result in the termination of the lease or may retain the lease and hold the City liable for all payments on an annual basis and still have the right to re-enter the leased property without effecting a surrender of the lease. These may be applied by the Trustee as specified in the terms of the agreement if any of the following conditions occur: default on debt service payments; the failure of the City to observe or perform the conditions, covenants, or agreement terms of the debt; bankruptcy filing by the City; or if any court or competent jurisdiction shall assume custody or control of the City. There were no such events occurred during the fiscal year ending June 30, 2022.
At June 30, 2022, future debt service requirements for the 2016 RLRBs follows:
For The Year
Ending June 30 Principal Interest Total
2023 1,015,000 $ 409,975 $ 1,424,975 $
2024 1,070,000 357,850 1,427,850
2025 1,120,000 303,100 1,423,100
2026 1,180,000 260,350 1,440,350
2027 1,205,000 215,475 1,420,475
2028 - 2030 3,960,000 296,425 4,256,425
$ 9,550,000 $ 1,843,175 $ 11,393,175
67 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 7 – LONG-TERM DEBT (Continued)
2018 Lease Revenue Bonds
In fiscal year 2018-19, the San Leandro Public Financing Authority issued $18,905,000 principal amount of 2018 Lease Revenue Bonds (2018 LRB). The purpose of the 2018 LRBs was to finance the acquisition and construction of certain capital improvement projects of the City, anticipated to consist of improvements to the Police Headquarters and South Office Building, the Mulford-Marina Branch Library, Manor Park Competition Pool, Farrelly Pool, and Casa Peralta. The 2018 LRBs bear interest rates ranging from 3.5% to
5.0% and are payable semiannually on each May 1 and November 1. Principal payments are payable annually on November 1, beginning in 2030.
The 2018 LRBs are special obligations of the Authority payable solely from and secured by a pledge of Revenues and certain funds and accounts held under the Indenture on a parity with the 2016 RLRBs. The bond covenants contain events of default that may result in the termination of the lease or may retain the lease and hold the City liable for all payments on an annual basis and still have the right to re-enter the leased property without effecting a surrender of the lease. These may be applied by the Trustee as specified in the terms of the agreement if any of the following conditions occur: default on debt service payments; the failure of the City to observe or perform the conditions, covenants, or agreement terms of the debt; bankruptcy filing by the City; or if any court or competent jurisdiction shall assume custody or control of the City. There were no such events occurred during the fiscal year ending June 30, 2022.
At June 30, 2022, future debt service requirements for the 2018 LRBs are as follow:
For The Year
Ending June 30 Principal Interest Total
2023 - $ $ 871,575 $ 871,575
2024 - 871,575 871,575
2025 - 871,575 871,575
2026 - 871,575 871,575
2027 - 871,575 871,575
2028 - 2032 1,290,000 4,294,126 5,584,126
2033 - 2037 3,810,000 3,594,562 7,404,562
2038 - 2042 4,840,000 2,536,500 7,376,500
2043 - 2047 6,140,000 1,223,625 7,363,625
2048 - 2049 2,825,000 114,100 2,939,100
$ 18,905,000 $ 16,120,788 $ 35,025,788
68 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 7 – LONG-TERM DEBT (Continued)
2016 Bank of America Equipment Lease
On July 21, 2016, the City entered into a direct borrowing Lease/Purchase Agreement with Bank of America, LLC to Lease/Purchase Equipment in the amount of $5,409,045. The Equipment was for the installation of energy efficiency improvements on various City-owned facilities. The interest is 2.10% payable over 16 years.
At June 30, 2022, future debt service requirements for the 2016 equipment lease follows:
For The Year
Ending June 30 Principal Interest Total
2023 340,864 $ 81,389 $ 422,253 $
2024 348,059 74,190 422,249
2025 355,407 66,842 422,249
2026 362,909 59,340 422,249
2027 370,571 51,679 422,250
2028 - 2032 1,973,552 137,698 2,111,250
2033 208,929 2,189 211,118
$ 3,960,291 $ 473,327 $ 4,433,618
HUD 108 Guarantee Loan – Senior Center
In 2011, the City received a direct borrowing $2,500,000 20-year federal loan from HUD, at an interest rate of 3% to finance the acquisition and construction of a senior center facility within the City of San Leandro.
The loan is secured and payable from the Community Development Block Grant Fund.
The loan covenants contain events of default which include collection of any funds pledged under the contract, withholding the guarantee of any or all obligations not yet disbursed to the City or the Loanee may direct the City’s financial institution to refuse to release any loan funds held in loan accounts, repayment accounts and investment accounts to the City. These events may be applied by the Loanee as specified in the terms of the agreement if any of the following conditions occur: default on debt service payments; the failure of the City to observe or perform the conditions, covenants, or agreement terms of the debt; bankruptcy filing by the City; or if any court or competent jurisdiction shall assume custody or control of the City. There were no such events occurred during the fiscal year ending June 30, 2022.
At June 30, 2022 future debt service requirements for the HUD 108 Guarantee loan follows:
For The Year
Ending June 30 Principal Interest Total
2023 132,000 $ 41,256 $ 173,256 $
2024 132,000 36,135 168,135
2025 132,000 30,882 162,882
2026 132,000 25,496 157,496
2027 132,000 19,991 151,991
2028 - 2030 396,000 25,992 421,992
$ 1,056,000 $ 179,752 $ 1,235,752
69 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 7 – LONG-TERM DEBT (Continued)
CEC Loan
On January 28, 2022, the City entered into a direct borrowing loan agreement with the California Energy Commission (CEC) in the total principal amount of $1,284,140, for the purpose of financing various energy savings projects. The loan will bear interest at 1.0%. As of June 30, 2022, the City has not drawn down or received any funds.
B. Long-Term Debt of Business-Type and Proprietary Funds Summary of changes in long-term debt of business-type and proprietary funds for the year ended June 30, 2022:
Due Due in
Balance Balance Within more than
Direct Borrowings June 30, 2021 Retirements June 30, 2022 one year one year State Water Resources Control Board $ 33,994,642 $ (1,882,003) $ 32,112,639 $ 1,930,936 $ 30,181,703 Marina Notes 227,467 (93,273) 134,194 45,334 88,860
Climatec Lease 7,624,924 (441,265) 7,183,659 450,042 6,733,617 Total 41,847,033 $ $ (2,416,541) $ 39,430,492 $ 2,426,312 $ 37,004,180 State Water Resources Control Board
On August 4, 2011, the City entered into a direct borrowing Finance Agreement with the State Water Resources Control Board in the total principal amount of $43,000,000, for the purpose of financing the Wastewater System Expansion and Improvement Project. The loan bears an interest rate of 2.6%.
Principal and interest payments are payable annually on July 1. The debt is secured by the WPCP Enterprise Fund operating revenues. The project was completed in fiscal year 2016-17.
Pursuant to the agreement, the City is expected to obtain net revenues of the Water system to be equal to at least 1.20 times the total annual debt service in such fiscal year. In fiscal year 2020-21, net revenues amounted to $6,960,237 which represented coverage of 252% under the $2,765,864 in debt service.
Future debt service is expected to average $3 million per year through fiscal year 2035-36 for a total of $41.5 million. The City is authorized under Prop 218 to increase up to 9.5% and in fiscal year 2022, the City requested a 7% increase. The City will evaluate its current financial situation and might propose another hike to meet the coverage expectation. Cash and investments are sufficient to meet any debt service requirement, until rates increased.
70 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 7 – LONG-TERM DEBT (Continued)
At June 30, 2022, future debt service requirements for the State Water Resources Control Board loan are as follows:
For The Year
Ending June 30 Principal Interest Total
2023 1,930,936 $ 834,929 $ 2,765,865 $
2024 1,981,140 784,724 2,765,864
2025 2,032,650 733,215 2,765,865
2026 2,085,499 680,366 2,765,865
2027 2,139,722 626,143 2,765,865
2028 - 2032 11,562,599 2,266,723 13,829,322
2033 - 2036 10,380,093 683,363 11,063,456
$ 32,112,639 $ 6,609,463 $ 38,722,102
Marina Cal Boating Notes Payable
The City entered into various direct borrowing construction loan agreements with the California Department of Boating and Waterways in the total principal amount of $5,331,032. The loans bear an average interest rate of 4.50%. Principal and interest payments are payable annually on each August 1.
The debt is secured by Shoreline Enterprise Fund operating revenues.
At June 30, 2022, future debt service requirements for the Marina Cal Boating Notes Payable are as follows:
For The Year
Ending Principal Interest Total
2023 45,334 $ 6,039 $ 51,373$
2024 20,770 3,999 24,769
2025 21,705 3,064 24,769
2026 22,682 2,087 24,769
2027 23,703 1,067 24,770
$ 134,194 $ 16,256 $ 150,450
71 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 7 – LONG-TERM DEBT (Continued)
2020 Bank of America Equipment Lease
On January 22, 2021, the City entered into a direct borrowing Lease/Purchase Agreement (Climatec Lease)with the Bank of America, LLC to Lease/Purchase Equipment in the amount of $7,624,924. The Equipment was for the installation of energy efficiency equipment. The loan bears an interest rate of
1.989% per annum. Principal and interest payments are payable annually on January 22. The debt is secured by Water Pollution Control Plant Enterprise Fund’s operating revenues.
At June 30, 2022, future debt service requirements for the Climatec Lease are as follows:
For The Year
Ending June 30 Principal Interest Total
2023 450,042 $ 142,883 $ 592,925 $
2024 458,993 133,932 592,925
2025 468,123 124,802 592,925
2026 477,434 115,491 592,925
2027 486,930 105,995 592,925
2028 - 2032 2,583,836 380,789 2,964,625
2033 - 2036 2,258,301 113,400 2,371,701
$ 7,183,659 $ 1,117,292 8,300,951$
C. Debt Covenants and Restrictions
For fiscal year 2021-22, the City complied with all general and specific covenants regarding debt proceeds usage and debt repayment. In accordance with bond official statements, the City also maintained adequate reserves for all debt issues.
NOTE 8 – COMPENSATED ABSENCES
The City’s compensated absences consist of accrued vacation pay, sick leave, and accrued compensatory time. The total amount of the accrued liability is recorded in the Government-wide Financial Statements and charges for compensated absences expense is charged to the various program activities in the Governmental funds, primarily the General Fund, Internal Service funds, and all Proprietary funds.
A summary of changes in compensated absences for the year ended June 30, 2022 is as follows:
Balance Balance Due within Due in more
July 1, 2021 Additions Retirements June 30, 2022 one year than one year Governmental Activities $ 4,070,917 $ 820,192 $ 1,768,836 $ 3,122,273 $ 881,441 $ 2,240,832 Business-type Activities 703,366 64,439 122,802 645,003 161,251 483,752 Total $ 4,774,283 $ 884,631 $ 1,891,638 $ 3,767,276 $ 1,042,692 $ 2,724,584 72 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 9 – UNEARNED REVENUE
Governmental-Wide Financial Statements
Unearned revenue in the Government-Wide Financial Statements represents amounts for which revenues have not been earned. At June 30, 2022, unearned revenue in the Government-Wide Financial Statements was $4,418,508 for Governmental Activities and $6,964 for Business-type Activities.
NOTE 10 – NET POSITION AND FUND BALANCES
A. Net Position
Net Position is the excess of all the City’s assets and deferred outflows of resources over all its liabilities, and deferred inflows of resources regardless of fund. Net Position is divided into three captions. These captions apply only to Net Position, which is determined only at the Government-wide level, and are described below:
Net investment in capital assets describes the portion of Net Position which is represented by the current net book value of the City’s capital assets, less the outstanding balance of any debt issued to finance these assets.
Restricted net position describes the portion of Net Position which is restricted as to use by the terms and conditions of agreements with outside parties, governmental regulations, laws, or other restrictions which the City cannot unilaterally alter. These principally include capital projects, debt service requirements, and special revenue programs restricted to special revenue purposes such as Measure B, Measure BB, Measure F, special Gas Tax, Grant funds, and other special revenue funds.
Unrestricted describes the portion of Net Position which is not restricted to use.
B. Fund Balances
Governmental fund balances represent the net current assets of each fund. Net current assets generally represent a fund’s cash and receivables, less its liabilities.
The City’s fund balances are classified in accordance with Governmental Accounting Standards Board Statement Number 54 (GASB 54), Fund Balance Reporting and Governmental Fund Type Definitions, which requires the City to classify its fund balances based on spending constraints imposed on the use of resources. For programs with multiple funding sources, the City prioritizes and expends funds in the following order: Restricted, Committed, Assigned, and Unassigned. Each category in the following hierarchy is ranked according to the degree of spending constraint:
Nonspendable represents balances set aside to indicate items do not represent available, spendable resources even though they are a component of assets. Fund balances required to be maintained intact, such as Permanent Funds, and assets not expected to be converted to cash, such as prepaid, notes receivable, and land held for redevelopment are included. However, if proceeds realized from the sale or collection of nonspendable assets are restricted, committed or assigned, then Nonspendable amounts are required to be presented as a component of the applicable category. 73 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 10 – NET POSITION AND FUND BALANCES (Continued)
Restricted fund balances have external restrictions imposed by creditors, grantors, contributors, laws, regulations, or enabling legislation which requires the resources to be used only for a specific purpose.
Encumbrances and nonspendable amounts subject to restrictions are included along with spendable resources.
Committed fund balances have constraints imposed by formal action of the City’s highest level decisionmaking authority. The City Council is the highest level of decision-making authority for the City that can, by adoption of a resolution prior to end if the fiscal year, commit fund balance. Once adopted, the limitation imposed by the resolution remains in place until a similar action is taken to remove or revise the limitation. Encumbrances and nonspendable amounts subject to council commitments are included along with spendable resources. As of June 30, 2022, the City does not have committed fund balance.
Assigned fund balances are amounts constrained by the City’s intent to be used for a specific purpose, but are neither restricted nor committed. Intent is expressed through City Council resolution and/or budget document or its designee (City Manager) and may be changed at the discretion of the City Council or its designee. This category includes encumbrances; Nonspendable, when it is the City’s intent to use proceeds or collections for a specific purpose, and residual fund balances, if any, of Special Revenue, Capital Projects and Debt Service Funds which have not been restricted or committed.
Unassigned fund balance represents residual amounts that have not been restricted, committed, or assigned. This includes the residual general fund balance and residual fund deficits, if any, of other governmental funds.
C. Encumbrances
The City uses an encumbrance system as an extension of normal budgetary accounting for governmental funds. Under this system, purchase orders, contracts, and other commitments for the expenditure of monies are recorded in order to reserve that portion of applicable appropriations. Encumbrances outstanding at year-end are recorded as restricted, committed or assigned fund balance, depending on the classification of the resources to be used to liquidate the encumbrance, since they do not constitute expenditures or liabilities. Outstanding encumbrances at year-end are automatically reappropriated for the following year. Unencumbered and unexpended appropriations lapse at year-end.
As of June 30, 2022, the General Fund had outstanding encumbrances of $1,214,010.
D. Contingency Arrangements
The City’s annual budget requires the City to implement and maintain fund balance to handle any unforeseen contingencies in the future, rather than continued reliance on the City’s operating General Fund reserves. These unforeseen contingencies include Economic Uncertainty, major Emergencies and Contingencies. As of June 30, 2022, the following are reported within the unassigned fund balance of the General Fund:
Compensated Absences $ 999,852
Major Emergencies 5,000,000
Economic Uncertainty 26,725,400
Other Remaining Unassigned 39,767,795
Total $ 72,493,047
74 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 10 – NET POSITION AND FUND BALANCES (Continued)
Detailed classifications of the City’s Fund Balances, as of June 30, 2022, are below:
Capital
Measure BB Improvement Non-Major
General Special Revenue Capital Project Governmental
Fund Fund Fund Funds Total
Nonspendables:
Advances to Other Funds $ - 6,041,796 $ $ - $ - $ 6,041,796 Loans receivable 1,176,802 - - - 1,176,802
Total Nonspendable Fund Balances 7,218,598 - - - 7,218,598 Restricted for:
Pension contributions 5,641,874 - - - 5,641,874
Internship 50,000 - - - 50,000
Capital Improvement Projects - 30,708,497 - - 30,708,497 Non-Major Governmental Funds
Special Assessment District Debt Service - - - 121 121
San Leandro Public Financing Authority - - - 416,098 416,098 GHAD - - - 13,622 13,622
Affordable Housing - - - 3,103,830 3,103,830
Street/ Traffic Improvements - - - 1,608,672 1,608,672
Park Development Fees - - - 2,141,697 2,141,697
Underground Utility - - - 3,101,320 3,101,320
Parking - - - 125,190 125,190
Special Gas Tax - - - 4,418,177 4,418,177
Cherrywood Maintenance - - - 508,636 508,636
Measure B - Paratransit - - - 686,554 686,554
Asset Seizure - - - 961,425 961,425
Heron Bay - - - 341,472 341,472
Proposition 1B - Local Streets & Roads - - - 13,845 13,845 Measure B - - - 2,076,979 2,076,979
Measure F - - - 1,194,931 1,194,931
CDBG - - - 122,976 122,976
HOME - - - 1,059,160 1,059,160
Housing In- Lieu - - - 258,799 258,799
Business Improvement District - - - 485,346 485,346
Public Education and Government - - - 714,965 714,965
Total Restricted Fund Balances 5,691,874 - 30,708,497 23,353,815 59,754,186 Assigned to:
Departmental projects 1,214,010 - - - 1,214,010
ACFD OPEB 8,222,725 - - - 8,222,725
Total Assigned Fund Balances 9,436,735 - - - 9,436,735
Unassigned:
General fund - Compensated Absences 999,852 - - - 999,852 General fund - Major Emergencies 5,000,000 - - - 5,000,000 General fund - Economic Uncertainty 26,725,400 - - 26,725,400 - General fund - Other 46,341,535 - - 46,341,535 -
Deficit balance - (2,117,873) - (710,443) (2,828,316)
Total Unassigned Fund Balances 79,066,787 (2,117,873) - (710,443) 76,238,471 Total Fund Balances $ 101,413,994 $ (2,117,873) $ 30,708,497 $ 22,643,372 $ 152,647,990 75 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 11 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Fund Deficits
At June 30, 2022, the Measure BB Special Revenue Fund, Special Grants Special Revenue Fund, and the Storm Water Utility Enterprise Fund had a net position deficits of $2,117,873, $710,443 and $1,951,395, respectively.
B. Expenditures in Excess of Appropriations
Excess of expenditures over appropriations approved by the City Council occurred in individual funds during the fiscal year 2021-22 as follows:
Fund/Department Expenditure Appropriation Excess
Special Revenue Funds
Cherrywood Maintenance District $ 459 $ 452 $ (7)
NOTE 12 – INSURANCE
The City provides workers’ compensation benefits under self-insurance programs. Claims outstanding, including claims incurred but not reported, are estimated and recorded as liabilities in the Self Insurance Internal Service Fund. The City’s self-insured retention limit for workers’ compensation is $250,000 per claim. The City is a member of the Local Agency Workers’ Compensation Excess Joint Powers Authority (LAWCX). This coverage includes a limit of $45 million for excess workers compensation, $5 million for employer’s liability, and a statutory excess layer of $50 million.
The City is a member of California Joint Powers Risk Management Authority (CJPRMA), which provides annual general liability coverage in an aggregate up to $40 million. The City is self-insured for the first $500,000 for liability losses. The City has had no settlements that exceed the self-insured retention coverage in the last five fiscal years.
The City’s deposits in the CJPRMA equal the ratio of the City’s payroll to the total payrolls of all entities participating in the same layer of each program in each program year. Actual surpluses or losses are shared according to a formula developed from overall loss costs and spread to member entities on a percentage basis after a retrospective rating. Estimated claims liabilities, as shown below, are presented on a basis of actuarial value as determined by the City’s actuary, who determines the expected value of the overall claim based upon certain criteria of the claim.
The following provides a reconciliation of claims and judgments:
Current Year Claims for
Liability Claims and Payments in Liability Liability
Balance Changes in Current and Prior Balance Due in
July 1 Estimates Fiscal Years June 30 One Year
2019-2020 6,825,696 $ 3,302,409 $ (2,464,858) $ 7,663,247 $ 1,170,645 $ 2020-2021 7,663,247 1,304,621 (1,916,234) 7,051,634 4,233,746 2021-2022 7,051,634 2,241,399 (2,223,164) 7,069,869 4,251,981 76 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 13 – COMMITMENTS AND CONTINGENCIES
The City participates in several Federal and State grant programs. These programs have been audited by the City’s independent accountants in accordance with the provisions of the Federal Single Audit Act as amended and applicable State requirements. No cost disallowances were proposed as a result of these audits. However, these programs are still subject to further examination by the grantors and the amount, if any, of expenditures that may be disallowed by the granting agencies cannot be determined at this time.
The City expects such amounts, if any, to be immaterial.
The City is a defendant in a number of lawsuits which have arisen in the normal course of business.
While substantial damages are alleged in some of these actions, their outcome cannot be predicted with certainty. In the opinion of the City Attorney, these actions when finally adjudicated will not have a material adverse effect on the financial position of the City. As discussed in Note 12 to the Financial Statements, the City maintains a Self-Insurance Fund which has reserves of $2,927,700 at the end of June 30, 2022. These reserves are available to satisfy any future liability.
A. Sales Tax Reimbursement Agreement
The City has entered into a sales tax reimbursement agreement in order to encourage construction and improvement of property sites within the City. In return, the City is expected to make annual reimbursement payments until the full amount of assistance has been remitted or over a twenty (20) year period, whichever comes sooner. The annual cost of each reimbursement payment commitment is equal to 50% of the net sales tax generated and received by the City above a base amount of $277,000 as stipulated in the approved agreements.
For financial reporting purposes, GASB Statement No. 77 defines a tax abatement as resulting from an agreement between a government and an individual or entity in which the government promises to forgo tax revenues and the individual or entity promises to subsequently take a specific action that contributes to economic development or otherwise benefits the government or its citizens. According to GASB Statement No. 77, the substance of this sales-tax reimbursement agreement meets the definition of “tax abatements.”
Pursuant to the Sales and Use Tax law (chapter 8 – Article 1 – section 7056), in order to protect the confidential information of the sales taxes collected and abatements provided to each of the specific agencies, the City has presented the aggregate amount abated during the current fiscal year. 77 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 14 – PENSIONS PLAN
For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City’s California Public Employees’ Retirement System (CalPERS) plans (Plans) and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by CalPERS.
For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
A. Plan Descriptions and Summary of Balances by Plan
All qualified permanent employees are eligible to participate in the City’s defined benefit pension plans:
• Miscellaneous (all other) agent multiple-employer plan • Safety cost-sharing multiple-employer plan
These plans are administered by the California Public Employees’ Retirement System (CalPERS), which acts as a common investment and administrative agent for its participating member employers. Benefit provisions under the Plans are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.
Below is a summary of the deferred outflows of resources, net pension liabilities, and deferred inflows of resources by Plan for the year ended June 30, 2022:
Deferred Deferred
Outflows Net Pension Inflows
of Resources Liability of Resources
Miscellaneous $ 11,858,397 $ 72,712,627 $ 24,342,518
Safety 22,128,946 68,504,096 46,221,859
Total $ 33,987,343 $ 141,216,723 $ 70,564,377
Benefits Provided – CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries.
Benefits are based on years of credited service, equal to one year of full-time employment. Members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of service. The cost of living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law. The Pension Reform Act of 2013 (PEPRA), Assembly Bill 340, is applicable to employees new to CalPERS and hired after December 31, 2012.
During the fiscal year 2019, the City adopted amendments with CalPERS that allows sharing of additional employer costs passed to the employees. The City implemented a cost sharing within the pension plans among San Leandro Police Officers' Association (SLPOA). This included SLPOA staff picking up the employers CalPERS share of 3%. These are the maximum under CalPERS law for the passing on of costs of the employer’s share. These were amendment changes to the contract between the Board of Administration California Public Employees’ Retirement System and the City as proposed changes in Section 20516 (Employees Sharing Additional Costs). Increase in employee contribution rates result in a respective decrease in employer contribution rates. 78 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 14 – PENSIONS PLAN (Continued)
The Plans’ provisions and benefits in effect at June 30, 2022, are summarized as follows:
Miscellaneous
Hire date
Prior to
May 6, 2010
On or after May 6,
2010 to
January 1, 2013
On or after
January 1, 2013
Benefit formula 2.5% @ 55 2% @ 55 2% @ 62
Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments monthly for life monthly for life monthly for life Retirement age 50 to 55 50 to 55 52 to 62
Monthly benefits, as a % of eligible compensation 2.000% - 2.700% 1.092% - 2.418% 1.000% - 2.500% Required employee contribution rates 8.00% 7.00% 6.75%
Required employer contribution rates, (blended) 10.23% 10.23% 10.23% Hire date
Prior to
January 1, 2013
On or after
January 1, 2013
Benefit formula 3% @ 50 2.7% @ 57
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age 50 50 to 57
Monthly benefits, as a % of eligible compensation 3.00% 2.000% - 2.700% Required employee contribution rates 9.00% 13.75%
Required employer contribution rates 25.59% 13.98%
Safety
Beginning in fiscal year 2016, CalPERS collects employer contributions for the Plan as a percentage of payroll for the normal cost portion as noted in the rates above and as a dollar amount for contributions toward the unfunded accrued liability (UAL). The dollar amounts are billed on a monthly basis. The City’s required contribution for the UAL in the Miscellaneous and Safety Plans were for the fiscal year ended June 30, 2022, $8,130,380 and $7,217,291 respectively.
Employees Covered – The following employees were covered by the benefit terms for the Miscellaneous Plan as of the most recent actuarial valuation date of June 30, 2020 and measurement date of June 30, 2021:
Miscellaneous
Active employees 253
Inactive employees entitled
but not yet receiving benefits 346
Inactive employees or beneficiaries
currently receiving benefits 667
Total 1,266
* All Tiers of the Miscellaneous plan were combined together on GASB 68 report by CalPERS
79 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 14 – PENSIONS PLAN (Continued)
Contributions – Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on July 1 following notice of a change in the rate. Funding contributions for both Plans are determined annually on an actuarial basis as of June 30 by CalPERS.
The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.
For the year ended June 30, 2022, the contributions recognized as part of pension expense for the Plan were as follows:
Miscellaneous Safety Total
Contributions - employer $ 10,532,119 $ 9,552,942 $ 20,085,061 B. Information Common to the Miscellaneous and Safety Plans The City’s net pension liability for each Plan is measured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability of each of the Plan is measured as of June 30, 2021, using an annual actuarial valuation as of June 30, 2020 rolled forward to June 30, 2021 using standard update procedures. A summary of principal assumptions and methods used to determine the net pension liability is shown below.
Actuarial Assumptions – The total pension liabilities in the June 30, 2020 actuarial valuations were determined using the following actuarial assumptions:
All Plans
Valuation Date 6/30/2020
Measurement Date 6/30/2021
Actuarial Cost Method Entry-Age Normal Cost Method
Actuarial Assumptions:
Discount Rate 7.15%
Inflation 2.50%
Payroll Growth 2.75%
Projected Salary Increase (1)
Investment Rate of Return 7.15% (2)
Mortality Derived using CalPERS Membership Data for all Funds (3) Post Retirement Benefit Increase
Purchasing Power
Protection Allowance floor on purchasing power
applies, 2.5% thereafter
(1) Depending on age, service and type of employment.
(2) Net of pension plan investment expenses, includes inflation. (3) The mortality table used was developed based on CalPERS' specific data. The probabilities of mortality are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015. Pre-retirement and post-retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries. For more details on this table, please refer to the CalPERS Experience Study and Review of Actuarial Assumptions report from December 2017 that can be found on the CalPERS website. 80 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 14 – PENSIONS PLAN (Continued)
Discount Rate – The discount rate used to measure the total pension liability for each Plan was 7.15%.
The projection of cash flows used to determine the discount rate for each Plan assumed that contributions from all plan members in the Public Employees Retirement Fund (PERF) will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, each Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members for all plans in the PERF. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability for each Plan.
The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.
In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations as well as the expected pension fund cash flows. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calculated over the short-term (first 10 years) and the long-term (11+ years) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equivalent to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses.
The table below reflects the long-term expected real rate of return by asset class.
Assumed Asset Real Return Real Return
Asset Class (a) Allocation Years 1-10 (b) Years 11+ (c) Public Equity 50.0% 4.80% 5.98%
Fixed Income 28.0% 1.00% 2.62%
Inflation Assets 0.0% 0.77% 1.81%
Private Equity 8.0% 6.30% 7.23%
Real Assets 13.0% 3.75% 4.93%
Liquidity 1.0% 0.00% -0.92%
Total 100.0%
(a) In the CalPERS Annual Comprehensive Financial Report, Fixed Income is include in Global Debt Securities; Liquidity is included in Short-term Investments; Inflation Assets are included in both Global Equity Securities and Global Debt Securities. (b) An expected inflation of 2.0% used for this period
(c) An expected inflation of 2.92% used for this period 81 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 14 – PENSION PLAN (Continued)
C. Miscellaneous (All Other) Agents Multiple-Employer Plan The changes in the Net Pension Liability for the City’s Miscellaneous Plan are as follows:
Increase (Decrease)
Total Pension
Liability
Plan Fiduciary
Net Position
Net Pension
Liability/(Asset)
Balance at June 30, 2021 $ 215,399,318 319,581,958 $ 104,182,640 $ Changes in the year:
Service cost 3,844,792 - 3,844,792
Interest on the total pension liability 22,444,027 22,444,027 - Changes of benefit terms - - -
Changes of assumptions - - -
Differences between expected and actual
experience 1,977,496 1,977,496 -
Plan to plan resource movement - - -
Contributions - employer 9,720,658 (9,720,658) -
Contributions - employees 1,724,547 (1,724,547) -
Net investment income 48,506,294 (48,506,294) -
Benefit payments, including refunds of employee
contributions (19,158,743) (19,158,743) -
Administrative expense (215,171) 215,171 -
Other Miscellaneous Income/(Expense) - - -
Net changes 9,107,572 40,577,585 (31,470,013)
Balance at June 30, 2022 $ 328,689,530 $ 255,976,903 $ 72,712,627 D. Safety Cost-Sharing Multiple-Employer Plan
As of June 30, 2022, the Safety cost-sharing plan reported net pension liabilities for its proportionate shares of the net pension liability at $68,504,096.
The Safety Plan net pension liability is measured as the proportionate share of the net pension liability in the State-wide pool. The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined. The City’s proportionate share of the net pension liability for the Safety Plan as of June 30, 2020 and 2021 was as follows:
Safety
Proportion - June 30, 2020 0.917952%
Proportion - June 30, 2021 1.266650%
Change - Increase (Decrease) 0.348698%
82 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 14 – PENSION PLAN (Continued)
E. Other Information
Sensitivity of the Net Pension Liability to Changes in the Discount Rate – The following presents the net pension liability of the City for the Plan, calculated using the discount rate for the Plan, as well as what the City’s net pension liability would be if it were calculated using a discount rate that is 1- percentage point lower or 1-percentage point higher than the current rate:
Miscellaneous Safety
1% Decrease 6.15% 6.15%
Net Pension Liability $ 112,140,826 112,681,787 $
Current Discount Rate 7.15% 7.15%
Net Pension Liability $ 68,504,096 72,712,627 $
1% Increase 8.15% 8.15%
Net Pension Liability $ 32,661,913 39,466,814 $
Pension Plan Fiduciary Net Position – Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.
Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions – For the year ended June 30, 2022, the City recognized total pension expense of $5,234,058 for both the Miscellaneous and Safety Plans. At June 30, 2022, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
Agent-Multiple - Deferred Outflows Deferred Inflows
Miscellaneous of Resources of Resources
Pension contributions subsequent to measurement date $ 10,532,119 $ - Differences between actual and expected experience 1,326,278 - Changes in assumptions - -
Change in employer's proportion and differences between the employer’s contributions and the employer’s
proportionate share of contributions - -
Net differences between projected and actual earnings
on plan investments - (24,342,518)
Total $ 11,858,397 $ (24,342,518)
Cost-Sharing - Deferred Outflows Deferred Inflows
Safety of Resources of Resources
Pension contributions subsequent to measurement date $ 9,552,942 $ - Differences between actual and expected experience 11,703,866 - Changes in assumptions - -
Change in employer's proportion and differences between the employer’s contributions and the employer’s
proportionate share of contributions - (5,202,852)
Net differences between projected and actual earnings
on plan investments - (40,773,106)
Change in Proportions 872,138 (245,901)
Total $ 22,128,946 $ (46,221,859)
83 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 14 – PENSION PLAN (Continued)
The $10,532,119 and $9,552,942 for Miscellaneous and Safety, respectively, will be reported as deferred outflows of resources related to contributions subsequent to the measurement date and will be recognized as a reduction of the net pension liability in the year ended June 30, 2023. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:
Miscellaneous Safety
Plan Plan Total
Year Ended Annual Annual Annual
June 30 Amortization Amortization Amortization
2023 (5,065,712) $ (6,170,146) $ (11,235,858) $
2024 (5,455,042) (7,197,542) (12,652,584)
2025 (5,815,571) (9,057,977) (14,873,548)
2026 (6,679,915) (11,220,190) (17,900,105)
$ (33,645,855) (23,016,240) $ (56,662,095) $
F. Section 115 Pension Trust Fund
In June 2021, the City established a Section 115 irrevocable trust with the Public Agency Retirement Services (PARS). During fiscal year ended June 30, 2022, the City contributed $6,500,000 into the trust.
G. Reduction in CalPERS Discount Rate
On July 12, 2021, CalPERS reported a preliminary 21.3% net return on investments for fiscal year 2020-
21. Based on the thresholds specified in CalPERS Funding Risk Mitigation policy approved by the CalPERS Board in 2015, the excess return of 14.3% prescribes a reduction in investment volatility that corresponds to a reduction in the discount rate used for funding purposes of 0.20%, from 7.00% to
6.80%. Since CalPERS was in the final stages of the four-year Asset Liability Management (ALM) cycle, the CalPERS Board elected to defer any changes to the asset allocation until the ALM process concluded, and the board could make its final decision on the asset allocation in November 2021.
On November 17, 2021, the board adopted a new strategic asset allocation. The new asset allocation along with the new capital market assumptions, economic assumptions and administrative expense assumption support a discount rate of 6.90% (net of investment expense, but without a reduction for administrative expense) for financial reporting purposes. This includes a reduction in the price inflation assumption from 2.50% to 2.30% as recommended in the November 2021 CalPERS Experience Study and Review of Actuarial Assumptions. This study also recommended modifications to retirement rates, termination rates, mortality rates and rates of salary increases that were adopted by the CalPERS Board.
These new assumptions will be reflected in the CalPERS GASB 68 accounting valuation reports for the June 30, 2022, measurement date.
84 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 15 – OTHER POST EMPLOYMENT BENEFITS
OPEB Liabilities, OPEB Expenses and Deferred Outflows/Inflows of Resources Related to OPEB - For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s OPEB Plan and additions to/deductions from the OPEB Plan’s fiduciary net position have been determined on the same basis as they are reported by PARS. For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value.
A. Plan Description
The City administers a multiple-employer defined-benefit post-employment healthcare plan. Dependents are eligible to enroll, and benefits continue to surviving spouses. The plan was established by City Council in fiscal year 2009-10 and provides reimbursements to retirees for qualified expenses. Retirees who have between five and fifteen years of service and meet certain criterion based upon retirement date, household income in the most recent calendar year, and age are entitled to reimbursements for qualified expenses.
Benefits Provided - Eligibility for retiree health benefits requires retirement from the City. Retirees may receive up to $360 monthly medical and $115.74 monthly dental reimbursement prior to age 65. Some retirees may receive $200 monthly medical reimbursement from age 65 to age 70. With the exception of certain retirees who are eligible for the $200 payment as discussed, after age 65, the retirees receive the PEMHCA minimum amount only.
Amendments to benefit provisions are negotiated by various bargaining units at the City and must be approved by Council. In fiscal year 2008-09, the City established an irrevocable exclusive agent multiemployer benefit trust which is administered by Public Agency Retirement Services (PARS). The trust will be used to accumulate and invest assets necessary to reimburse retirees. No separate financial reports are issued by PARS for the OPEB plan.
Employees Covered by Benefit Terms – Membership in the plan consisted of the following at the measurement date of June 30, 2022:
Active employees 251
Inactives currently receiving benefit payments 298
Inactive entitled to but not yet
receiving benefit payments 211
Total 760
85 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 15 – OTHER POST EMPLOYMENT BENEFITS (Continued)
B. Net OPEB Liability
Actuarial Methods and Assumptions – The City’s net OPEB liability was measured as of June 30, 2022 and the total OPEB liability used to calculate the net OPEB liability was determined on actuarial valuation date that was rolled forward using standard update procedures to determine the total OPEB liability as of the measurement date, based on the following actuarial methods and assumptions:
Actuarial Assumptions June 30, 2022 Measurement Date
Valuation Date • June 30, 2021
Actuarial Cost Method • Entry Age Normal Level Percentage of Payroll Funding Policy • City contributes full Actuarial Determined Contribution Discount Rate • 4.50%
General Inflation • 2.50% annually
Mortality, Retirement, Disability,
Termination • CalPERS 1997-2015 Experience Study
Salary Increases • 2.75%
• Additional merit-based on CalPERS merit 1997 - 2015 Experience Study Healthcare Cost Trend • Non-Medicare - 6.50% for 2023, decreasing to an ultimate rate of 3.75% in 2076 • Medicare - 5.60% for 2023, decreasing to an ultimate rate of 3.75% in 2076 Mortality Improvement • Mortality projected fully generational with Scale MP-2021.
PEMHCA Minimum Increases • 4.00% Annually.
The long-term expected rate of return on OPEB plan investments (comprised of capital appreciation and reinvestment of dividends, interest, and other distributions) is determined through a combination of historical rates of returns, valuation projections, and economic expectations. The expected return is then calculated by weighting the returns for each asset class according to the exposure as determined by HighMark’s current strategic allocation. Expected returns are developed and annually reviewed. The target allocation and best estimates of real rates of return for each major asset class are summarized in the following table:
Long-Term
Target Expected Real
Asset Class Allocation Rate of Return
Global Equity 29.00% 4.56%
Fixed Income 65.00% 0.78%
REITs 1.00% 4.06%
Cash 5.00% -0.50%
Total 100.0%
Discount Rate – The discount rate used to measure the total OPEB liability is 4.50% for fiscal year 2022, which was a decrease in the discount rate of 5.25% used in the prior year’s valuation. This is the expected long-term rate of return on City assets using a Moderately Conservative Highmark PLUS fund within the Public Agency Retirement Services (PARS). The projection of cash flows used to determine the discount rate assumed that the City contribution will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan's fiduciary net position is projected to cover all future OPEB payments. Therefore, the discount rate was set equal to the long-term expected rate of return. 86 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 15 – OTHER POST EMPLOYMENT BENEFITS (Continued)
C. Changes in Net OPEB Liability
The changes in the net OPEB liability follows:
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability/(Asset)
(a) (b) (a) - (b)
Balance at June 30, 2021 Measurement Date $ 24,559,435 $ 21,807,092 $ 2,752,343 Changes Recognized for the Measurement Period:
Service Cost 894,409 - 894,409
Interest on the total OPEB liability 1,302,546 - 1,302,546 Changes in benefit terms - - -
Differences between expected and actual experience (3,116,104) - (3,116,104) Changes of assumptions 1,324,642 - 1,324,642
Employer contributions - City - 1,286,842 (1,286,842)
Employer contributions - Implicit subsidy - - -
Net investment income - (2,610,009) 2,610,009
Benefit payments (1,286,842) (1,286,842) -
Implicit rate subsidy fulfilled - - -
Administrative expenses - (42,746) 42,746
Net changes (881,349) (2,652,755) 1,771,406
Balance at June 30, 2022 Measurement Date $ 23,678,086 $ 19,154,337 $ 4,523,749 Plan fiduciary net position as percentage of the total OPEB liability 80.89% D. Sensitivity of the Net OPEB Liability to Changes in the Discount Rate and Healthcare Cost Trend Rates
The following presents the net OPEB liability of the City, as well as what the City's net OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower or 1-percentage-point higher than the current discount rate:
Net OPEB Liability/(Asset)
Discount Rate -1% Current Discount Rate Discount Rate +1% (3.50%) (4.50%) (5.50%)
$ 7,767,624 $ 4,523,749 $ 1,861,394
The following presents the net OPEB liability of the City, as well as what the City's net OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower or 1- percentage-point higher than the current healthcare cost trend rates (5.60% in 2023, trending down to 3.75% in 2076):
Net OPEB Liability/(Asset)
1% Decrease Current Healthcare Cost 1% Increase
Trend Rates
$ 1,469,930 $ 4,523,749 $ 8,363,646
87 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 15 – OTHER POST EMPLOYMENT BENEFITS (Continued)
E. OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB For the year ended June 30, 2022, the City recognized OPEB expense of $582,150. At June 30, 2022, the City reported deferred outflows and inflows of resources related to OPEB from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Changes of assumptions 1,851,775 $ - $
Differences between expected and actual experience 437,240 (2,613,507) Net differences between projected and actual earnings on plan investments 2,009,233 -
Total $ 4,298,248 $ (2,613,507)
The deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized as part of OPEB expense as follows:
Year Annual
Ended June 30 Amortization
2023 $ 709,564
2024 684,444
2025 175,664
2026 461,806
2027 (288,945)
Thereafter (57,792)
Total $ 1,684,741
NOTE 16 – JOINTLY GOVERNED ORGANIZATIONS
The City of San Leandro participates in the East Bay Dischargers Authority established on February 15, 1974. The Agency Members of the Joint Powers are the City of Hayward, City of San Leandro, Oro Loma Sanitary District, Castro Valley Sanitary District, and Union Sanity District. The authority has the powers to plan for, acquire, construct, manage, maintain, operate, and control facilities for the collection, transmission, treatment, reclamation, sale and disposal of waste water. No debt, liability, or obligation of the Authority shall constitute a debt, liability or obligation of any Agency.
The Authority is governed by the East Bay Dischargers Commission (Commission). The Commission consists of five members, one from each Agency. The ownership of the Joint Facilities is as follows:
13.74%, City of San Leandro; 29.44% Oro Loma/Castro Valley; 14.72% City of Hayward; and 42.10% Union Sanitary District. The City’s share of the expenses are recorded as expenses of the Water Pollution Control Fund.
88 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 17 – SUCCESSOR AGENCY ACTIVITIES
A. Cash and Investments
Cash and investments at June 30, 2022, consisted of the following:
Statement of net position:
Cash and Investments $ 2,418,665
Cash and Investments held by fiscal agents 21
Total cash and investments $ 2,418,686
The Successor Agency pools its cash and investment with the City in order to achieve a higher return on investment. Certain restricted funds, which are held and invested by independent custodians through contractual agreements, are not pooled. These restricted funds include cash with fiscal agents.
B. Capital Assets
The Successor Agency assumed the capital assets of the former Redevelopment Agency as of February 1, 2012. All capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Contributed capital assets are valued at their estimated fair market value on the date contributed. The Successor Agency’s policy is to capitalize all assets with costs exceeding certain minimum thresholds and with useful lives exceeding two years.
All capital assets with limited useful lives are depreciated over their estimated useful lives. The purpose of depreciation is to spread the cost of capital assets equitably among all users over the life of these assets.
The amount charged to depreciation expense each year represents that year’s pro rata share of the cost of capital assets.
C. Long-Term Debt Obligations
At June 30, 2022, future debt service requirements for the Successor Agency were as follows:
Balance Balance Current Long-Term
June 30, 2021 Retirements June 30, 2022 Portion Portion 2013 Refunding Lease Revenue Bonds
Successor Agency Portion $ 1,523,000 $ (234,000) $ 1,289,000 $ 240,000 $ 1,049,000 2014 Tax Allocation Refunding Bonds
Successor Agency Portion 10,345,000 (675,000) 9,670,000 720,000 8,950,000 2018 Tax Allocation Refunding Bonds, Series A
Successor Agency Portion 16,845,000 16,845,000 - 430,000 16,415,000 2018 Tax Allocation Refunding Bonds, Series B
Successor Agency Portion 930,000 (670,000) 260,000 260,000 - Direct Borrowings:
Owner Participation Agreements 414,170 - 414,170 - 414,170 Total 30,057,170 (1,579,000) 28,478,170 1,650,000 26,828,170 Plus (Less) unamortized:
Premium (2013 LRB) 49,238 (8,562) 40,676 8,562 32,114
Premium (2014 TARB) 1,102,461 (81,664) 1,020,797 81,664 939,133 Premium (2018 TARB) 1,551,015 (86,168) 1,464,847 86,168 1,378,679 Total Long-Term Debt $ 32,759,884 $ (1,755,394) $ 31,004,490 $ 1,826,394 $ 29,178,096 89 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 17 – SUCCESSOR AGENCY ACTIVITIES (Continued)
2013 Refunding Lease Revenue Bonds
In 2013, the City issued $11,995,000 principal amount of 2013 Refunding Lease Revenue Bonds (2013 RLRB). The purpose of the 2013 RLRBs was to refund the 2003 COPs and 2001 COPs. The 2013 RLRBs bear interest rates ranging from 2.0% to 5.00% and are payable semiannually on each June 1 and December
1. Principal payments are payable annually on December 1.
At June 30, 2022, future debt service requirements for the Successor Agency’s portion of the 2013 Refunding Lease Revenue Bonds were as follows:
For The Year
Ending June 30 Principal Interest Total
2023 $ 240,000 $ 44,710 $ 284,710
2024 249,000 35,864 284,864
2025 258,000 27,464 285,464
2026 266,000 18,455 284,455
2027 276,000 6,900 282,900
$ 1,289,000 $ 133,393 $ 1,422,393
2014 Tax Allocation Refunding Bonds
On September 30, 2014, the Successor Agency issued $11,235,000 of Tax Allocation Bonds (2014 TABs) to prepay the 2002 and 2004 Tax Allocation Bonds and to pay issuance costs. The 2014 TABs are payable and secured by a pledge of tax revenues from tax increment generated in the Plaza Project Area and the West San Leandro/MacArthur Boulevard Project Area. The 2014 TABs bear interest rates ranging from
3.5% to 5.00% and are payable semiannually on March 1 and September 1. Principal payments are payable on September 1st.
Proceeds were deposited in an irrevocable trust with an escrow agent to provide funds to fully redeem, on October 30, 2014, the principal and accrued interest of the 2002 and 2004 Tax Allocation Bonds. As a result, the 2002 and 2004 Tax Allocation Bonds are considered redeemed (current refunding) and the liability for those bonds has been removed from the statement of fiduciary net position.
At June 30, 2022, future debt service requirements for the 2014 Tax Allocation Refunding Bonds are as follows:
For The Year
Ending June 30 Principal Interest Total
2023 720,000 $ 441,575 $ 1,161,575 $
2024 740,000 405,075 1,145,075
2025 765,000 367,450 1,132,450
2026 785,000 328,700 1,113,700
2027 805,000 288,950 1,093,950
2028 - 2032 4,260,000 814,375 5,074,375
2033 - 2035 1,595,000 67,463 1,662,463
$ 2,713,588 9,670,000 $ 12,383,588 $
90 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 17 – SUCCESSOR AGENCY ACTIVITIES (Continued)
2018 Tax Allocation Refunding Bonds Series A
On May 8, 2018, the Successor Agency issued Tax Allocation Refunding Bonds (2018A TABs) in the amount of $16,845,000. The proceeds of the bonds were used to refund the 2008 Tax Allocation Bonds, Series 2008. Principal payments of the 2018A TABs are due annually on September from 2023 to 2039 in amounts ranging from $430,000 to $1,370,000 and bear interest at rates ranging from 3.375% to 5.000%.
Interest is payable semiannually on March 1 and September 1. The Bonds are payable solely from tax increment revenue generated in the Alameda County – City of San Leandro Redevelopment Project Area.
Total principal and interest remaining to be paid on the Bonds was $23,482,309 as of June 30, 2022.
The bonds were issued at a premium of $1,809,519 which is being amortized over the 21-year life of the bonds resulting in an annual amortization of $86,168.
On the date of issuance of the 2018A TABs, the Successor Agency deposited into the reserve account for the 2018A TABs a municipal bond debt service insurance policy in the amount of $1,431,438, which is equal to the “Reserve Requirement” for the 2018A TABs.
Proceeds from the 2018A TABs were deposited in an irrevocable trust with an escrow agent to provide funds to fully redeem, on June 5, 2018, the outstanding principal and accrued interest of the 2008 Tax Allocation Bonds.
At June 30, 2022, future debt service requirements for the 2018 Tax Allocation Refunding Bonds Series A are as follows:
For The Year
Ending June 30 Principal Interest Total
2023 430,000 $ 710,288 $ 1,140,288 $
2024 710,000 687,488 1,397,488
2025 740,000 654,788 1,394,788
2026 775,000 616,912 1,391,912
2027 815,000 577,162 1,392,162
2028 - 2032 4,740,000 2,220,413 6,960,413
2033 - 2037 5,935,000 1,075,890 7,010,890
2038 - 2039 2,700,000 94,368 2,794,368
$ 6,637,309 16,845,000 $ 23,482,309 $
91 CITY OF SAN LEANDRO
NOTES TO BASIC FINANCIAL STATEMENTS
For The Year Ended June 30, 2022
NOTE 17 – SUCCESSOR AGENCY ACTIVITIES (Continued)
2018 Tax Allocation Refunding Bonds Series B
On May 8, 2018, the Successor Agency issued Tax Allocation Refunding Bonds (2018B TABs) in the amount of $2,215,000. The proceeds of the bonds were used to refund the 2008 Tax Allocation Bonds, Series 2008. The bonds mature annually each March and September from 2019 to 2022 in amounts ranging from $260,000 to $670,000 and bear interest at rates ranging from 2.700% to 3.210%. Interest is payable semiannually March 1 and September 1. The Bonds are payable solely from tax increment revenue generated in the Alameda County – City of San Leandro Redevelopment Project Area. Total principal and interest remaining to be paid on the Bonds was $264,173 as of June 30, 2022.
Proceeds from the 2018B TABs were deposited in an irrevocable trust with an escrow agent to provide funds to fully redeem, on June 5, 2018, the principal and accrued interest of the 2008 Tax Allocation Bonds.
At June 30, 2022, future debt service requirements for the 2018 Tax Allocation Refunding Bonds Series B are as follows:
For The Year
Ending June 30 Principal Interest Total
2023 $ 260,000 $ 4,173 $ 264,173
$ 260,000 $ 4,173 $ 264,173
Direct Borrowings
The Agency entered into the following agreement which represent contingency liabilities for the Agency:
Ford Motor Company Owner Participation Agreement
The agreement required the Agency to make annual payments equivalent to 50% of the sales tax generated above a base of $277,000 by the sale of vehicles as part of the Ford Store San Leandro development. The amount due is paid over several years depending on the volume of auto sales at no interest. There were no payments for fiscal year ended June 30, 2022. 92 REQUIRED SUPPLEMENTARY INFORMATION
CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
City of San Leandro
Agent Multiple Employer Defined Benefit Retirement Plan - Miscellaneous Plan As of June 30,
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS Last 10 Years*
Measurement Date 2014 2015 2016 2017 2018
Total Pension Liability
Service Cost $ 3,570,669 3,921,445 $ 3,522,248 $ 4,044,169 $ $ 4,095,987 Differences between expected and actual
experience - (8,034,544) 593,697 (1,248,019) (596,425)
Changes in assumptions - (4,335,946) - 15,476,760 (1,768,314) Interest 18,867,111 18,796,998 19,495,753 19,808,061 20,204,782 Benefit payments, including refunds of
employee contributions (13,777,288) (14,563,306) (15,016,152) (15,620,511) (16,309,242) Net change in total pension liability (4,496,016) 8,941,155 8,595,546 22,460,460 5,626,788 Total pension liability - beginning 264,495,717 255,554,562 259,999,701 268,595,247 291,055,707 Total pension liability - ending (a) $ 259,999,701 264,495,717 $ 268,595,247 $ 291,055,707 $ 296,682,495 $ Plan fiduciary net position
Contributions - employer 4,594,523 $ 5,043,060 $ 5,638,865 $ 6,399,288 $ $ 6,873,684 Contributions - employee 2,010,061 1,672,356 1,618,186 1,695,139 1,762,858 Net investment income 29,807,971 4,385,312 994,580 20,564,284 16,783,894 Benefit payments, including refunds of
employee contributions (13,777,288) (14,563,306) (15,016,152) (15,620,511) (16,309,242) Plan to Plan Resource Movement - (572) - - (1,934)
Administrative Expense - (217,263) (117,644) (274,840) (309,964) Other Miscellaneous Income/(Expense) - - - - (588,627)
Net change in plan fiduciary net position (3,680,413) 22,635,267 (6,882,165) 12,763,360 8,210,669 Plan fiduciary net position - beginning 196,714,141 174,078,874 193,033,728 186,151,563 198,914,923 Plan fiduciary net position - ending (b) $ 193,033,728 196,714,141 $ 186,151,563 $ 198,914,923 $ 207,125,592 $ Net pension liability - ending (a)-(b) 67,781,576 $ 66,965,973 $ 82,443,684 $ 92,140,784 $ 89,556,903 $ Plan fiduciary net position as a percentage of
the total pension liability 25.63% 25.76% 30.69% 31.66% 30.19% Covered payroll 20,167,441 $ 19,979,507 $ 21,037,041 $ 21,903,698 $ 22,864,060 $ Plan fiduciary net position as a percentage of covered
payroll 336.09% 335.17% 391.90% 420.66% 391.69%
Notes to Schedule:
* Fiscal year 2015 was the 1st year of implementation.
Benefit changes - The figures above do not include any liability impact that may have resulted from plan changes which occurred after the June 30. This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).
Changes in assumptions - Changes in assumptions - In 2017, the accounting discount rate reduced from 7.65 percent to 7.15 percent. In 2016, 2018, 2019, 2020 and 2021, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense.) In 2014, amounts reported were based on the 7.5 percent discount rate. 94 CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
2019 2020 2021
$ 4,005,467 $ 3,874,755 $ 3,844,792
4,908,580 2,724,076 1,977,496
- - -
21,089,806 21,804,805 22,444,027
(17,262,935) (18,245,091) (19,158,743)
12,740,918 10,158,545 9,107,572
296,682,495 309,423,413 319,581,958
$ 309,423,413 $ 319,581,958 $ 328,689,530
$ 7,676,172 $ 8,774,417 $ 9,720,658
1,826,595 1,750,192 1,724,547
13,606,328 10,595,404 48,506,294
(17,262,935) (18,245,091) (19,158,743)
- - -
(147,809) (300,030) (215,171)
483 - -
5,698,834 2,574,892 40,577,585
207,125,592 212,824,426 215,399,318
$ 212,824,426 $ 215,399,318 $ 255,976,903
$ 96,598,987 $ 104,182,640 $ 72,712,627
31.22% 32.60% 22.12%
$ 22,638,587 $ 23,100,009 $ 22,919,363
426.70% 451.01% 317.25%
95 CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
City of San Leandro
Agent Multiple Employer Defined Benefit Retirement Plan - Miscellaneous Plan As of fiscal year ending June 30,
SCHEDULE OF CONTRIBUTIONS
Last 10 Years*
Fiscal Year 2015 2016 2017 2018 2019
Actuarially determined contribution $ 5,043,060 $ 5,638,865 $ 6,387,063 $ 6,873,205 $ 7,688,583 Contributions in relation to the actuarially
determined contributions (5,043,060) (5,638,865) (6,387,063) (6,873,205) (7,688,583) Contribution deficiency (excess) $ - $ - $ - $ - $ -
Covered payroll $ 19,979,507 $ 21,037,041 $ 21,903,698 $ 22,864,060 $ 22,638,587 Contributions as a percentage of covered
payroll 25.24% 26.80% 29.16% 30.06% 33.96%
Notes to Schedule
Valuation date: 6/30/2013 6/30/2014 6/30/2015 6/30/2016 6/30/2017 Methods and assumptions used to determine contribution rates:
Entry age normal
Level percentage of payroll
Fair Value of Assets
2.75% for 2015 to 2019, 2.625% for 2020, and 2.50% for 2021 and 2022.
Varies by entry age and service
2.75%
Mortality
Salary increases
Payroll growth
Investment rate of return
Inflation
Actuarial cost method
Amortization method
Retirement age
Asset valuation method
The probabilities of retirement are based on the CalPERS Experience Study.
7.50% for 2015 to 2018, 7.375% for 2019, 7.25% for 2020, and 7.00% for 2021 and 2022, net of pension plan investment expense and administrative expenses, includes inflation The probabilities of mortality are based on the CalPERS Experience Study. Pre-retirement and Post-retirement mortality rates include 20 years of projected mortality improvement using Scale AA published by the Society of Actuaries for 2015 to 2018. For 2019, 2020, 2021 and 2022, preretirement and post-retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries. 96 CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
2020 2021 2022
$ 8,747,418 $ 9,717,634 $ 10,532,119
(8,747,418) (9,717,634) (10,532,119)
$ - $ - $ -
$ 23,100,009 $ 22,919,363 $ 23,764,539
37.87% 42.40% 44.32%
6/30/2018 6/30/2019 6/30/2020
97 CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
City of San Leandro
Cost-Sharing Multiple-Employer Defined Pension Plan - Safety Plan
SCHEDULE OF THE PLAN'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
AND RELATED RATIOS AS OF THE MEASUREMENT DATE
Last 10 Years*
Measurement Date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 Plan's proportion of the Net Pension Liability (Asset) 0.77754% 0.84138% 0.85648% 0.85168% 0.88976% Plan's proportion share of the Net Pension Liability
(Asset) 48,381,880 $ $ 57,751,630 $ 74,111,802 $ 84,462,824 $ 85,739,175 Plan's Covered Payroll $ 10,789,007 $ 10,794,582 $ 11,439,904 $ 11,316,753 $ 12,841,859 Plan's Proportionate Share of the Net Pension
Liability/(Asset) as a Percentage of its Covered
Payroll 450.15% 535.01% 647.84% 746.35% 667.65%
Plan's Proportionate Share of the Fiduciary Net
Position as a Percentage of the Plan's Total Pension
Liability 79.82% 78.40% 74.06% 73.31% 75.26%
* - Fiscal year 2015 was the 1st year of implementation. 98 CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
6/30/2019 6/30/2020 6/30/2021
0.89929% 0.91795% 1.26665%
$ 92,150,076 $ 99,870,170 $ 68,504,096
$ 13,169,196 $ 13,692,447 $ 13,470,710
699.74% 729.38% 508.54%
75.26% 75.10% 88.29%
99 CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
City of San Leandro
Cost-Sharing Multiple Employer Defined Pension Plan - Safety Plan For the Fiscal Year Ended June 30,
SCHEDULE OF CONTRIBUTIONS
Last 10 Years*
Fiscal Year 2016 2017 2018 2019 2020
Actuarially determined contribution $ 5,482,854 $ 5,233,646 $ 6,062,560 $ 7,027,678 $ 8,187,368 Contributions in relation to the actuarially
determined contributions (5,482,854) (5,233,646) (6,062,560) (7,027,678) (8,187,368) Contribution deficiency (excess) $ - $ - $ - $ - $ -
Covered payroll $ 11,439,904 $ 11,316,753 $ 12,841,859 $ 13,169,196 $ 13,692,447 Contributions as a percentage of covered
payroll 47.93% 46.25% 47.21% 53.36% 59.79%
* - Fiscal year 2015 was the 1st year of implementation. 100
CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
2021 2022
$ 9,219,375 $ 9,552,942
(9,219,375) (9,552,942)
$ - $ -
$ 13,470,710 $ 11,906,385
68.44% 80.23%
101
CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
City of San Leandro
Other Postemployment Benefits Plan - Multiple Employer Plan Schedule of Changes in the
Net OPEB Liability and Related Ratios
Last Ten Fiscal Years *
For the Measurement Period Ended June 30 2017 2018 2019 2020 2021 Total OPEB Liability
Service Cost $ 673,551 709,979 $ 692,916 $ 843,066 $ 868,358 $ Interest 1,027,370 1,054,962 1,067,353 1,216,539 1,257,969 Changes of benefit terms - - - - -
Differences between expected and actual experience - 1,270,076 - - - Changes of assumptions - 440,394 1,975,353 - -
Implicit rate subsidy fulfilled - (733,837) - - -
Benefit Payments (802,834) (1, (1,538,260) 508,460) (1,271,770) (1,319,716) Net change in Total OPEB Liability 199,089 632,236 3,497,238 787,835 806,611 Total OPEB Liability at beginning of year 18,835,515 18,636,426 19,467,751 22,964,989 23,752,824 Total OPEB Liability at end of year $ 19,467,751 18,835,515 $ 22,964,989 $ 23,752,824 $ 24,559,435 $ Plan Fiduciary Net Position
Contributions - employer $ 1,552,834 8,488,260 $ $2,508,460 2,771,770 $ 1,319,716 $ Contributions - employer for implicit subsidy - 733,837 - - - Contributions - member - - - - -
Net investment income 640,483 528,900 1,047,583 801,925 2,700,965 Benefit payments (802,834) (1, (1,538,260) 508,460) (1,271,770) (1,319,716) Implicit subsidy fulfilled - (733,837) - - -
Administrative expenses (40,605) (67,811) (36,472) (40,057) (43,249) Net change in Plan Fiduciary Net Position 7,549,878 1,211,089 2,011,111 2,261,868 2,657,716 Plan Fiduciary Net Position at beginning of year 6,115,430 13,665,308 14,876,397 16,887,508 19,149,376 Plan Fiduciary Net Position at end of year $ 14,876,397 13,665,308 $ 16,887,508 $ 19,149,376 $ 21,807,092 $ Authority's Net OPEB Liability (Asset) at end of year $ 4,591,354 5,170,207 $ 6,077,481 $ 4,603,448 $ 2,752,343 $ Plan's Fiduciary Net Position as percentage of Total
OPEB Liability 72.6% 76.4% 73.5% 80.6% 88.8%
Covered employee payroll $ 33,357,709 34,267,955 $ 42,275,248 $ 41,120,591 $ 41,613,491 $ Net OPEB Liability as percentage of covered payroll 15.09% 13.76% 14.38% 11.19% 6.61% Notes:
* Fiscal year 2018 was the first year of implementation for GASB 75 102
CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
2022
$ 894,409
1,302,546
-
(3,116,104)
1,324,642
-
(1,286,842)
(881,349)
24,559,435
$ 23,678,086
$ 1,286,842
-
-
(2,610,009)
(1,286,842)
-
(42,746)
(2,652,755)
21,807,092
$ 19,154,337
$ 4,523,749
80.9%
$ 41,709,251
10.85%
103
CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
Fiscal Year Ended June 30, 2018 2019 2020 2021 2022
Actuarially determined contribution $ 1,027,403 1,121,087 $ 1,359,000 $ 1,405,000 $ 1,448,000 $ Contributions in relation to the
actuarially determined contribution (2,286,671) (2,508,460) (2,771,770) (1,319,716) (1,286,842) Contribution deficiency (excess) $ (1,481,057) (1,165,584) $ (1,412,770) $ 85,284 $ 161,158 $ Covered-employee payroll $ 42,275,248 33,357,709 $ 41,120,591 $ 41,613,491 $ 41,709,251 $ Contributions as a percentage of
covered-employee payroll 6.86% 5.93% 6.74% 3.17% 3.1%
Notes:
* Fiscal year 2018 was the first year of implementation for GASB 75 City of San Leandro
Other Postemployment Benefits Plan
Schedule of Contributions
Last Ten Fiscal Years *
104
City of San Leandro
Required Supplementary Information
For the year ended June 30, 2022
BUDGETS AND BUDGETARY ACCOUNTING
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Fund
Variance with
Budgeted Amounts Final Budget
Positive
Adopted Final Actual (Negative)
REVENUES:
Property taxes and other taxes $ 110,707,700 $ 111,954,800 $ 119,965,461 $ 8,010,661 Licenses and permits 3,808,500 9,638,503 10,165,545 527,042 Fines and forfeitures 745,500 745,500 723,592 (21,908)
Services charges 2,053,900 1,439,878 1,897,833 457,955
Intergovernmental 788,000 16,378,393 2,556,837 (13,821,556) Use of money and property 2,706,700 2,481,632 (2,016,399) (4,498,031) Interdepartmental charges 2,000,000 2,000,000 2,000,000 - Other 292,000 635,520 221,000 414,520
Total revenues 144,859,706 123,102,300 135,928,389 (8,931,317) EXPENDITURES:
Current:
General government 15,465,700 14,611,556 16,473,251 1,861,695 Public safety 68,534,500 63,990,759 69,362,637 5,371,878 Engineering and transportation 12,068,400 11,735,643 21,453,891 9,718,248 Recreation and culture 13,662,800 11,314,002 13,345,038 2,031,036 Community development 7,006,300 7,158,181 11,062,615 3,904,434 Debt service:
Principal 4,398,055 2,333,816 2,885,438 551,622
Interest and fees 2,159,845 492,096 492,096 -
Total expenditures 135,074,966 123,295,600 111,636,053 23,438,913
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 9,784,740 (193,300) 24,292,336 14,507,596 OTHER FINANCING SOURCES (USES):
Transfers (out) (6,600,800) (6,606,256) (6,606,256) -
Proceeds from the sale of property - - 9,038 9,038
Total other financing sources (uses) (6,600,800) (6,606,256) (6,597,218) 9,038 NET CHANGE IN FUND BALANCE $ (6,794,100) $ 3,178,484 17,695,118 $ 14,516,634 FUND BALANCES:
Beginning of year 83,718,876
End of year $ 101,413,994
105
City of San Leandro
Required Supplementary Information
For the year ended June 30, 2022
BUDGETS AND BUDGETARY ACCOUNTING
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Measure BB Special Revenue Fund
Variance with
Final Budget
Positive
Adopted Budget Actual (Negative)
REVENUES:
Intergovernmental $ 7,684,000 $ 8,024,392 $ 5,936,761 $ (2,087,631) Use of money and property - 5,000 (3,644) (8,644)
Total revenues 7,684,000 8,029,392 5,933,117 (2,096,275) EXPENDITURES:
Current:
Engineering and transportation 1,100,000 18,882,131 6,055,475 12,826,656 Total expenditures 1,100,000 18,882,131 6,055,475 12,826,656 OTHER FINANCING SOURCES:
Transfers in - - 1,173,476 1,173,476
NET CHANGE IN FUND BALANCES $ 6,584,000 $ (10,852,739) 1,051,118 11,903,857 $ FUND BALANCES:
Beginning of year (3,168,991)
End of year $ (2,117,873)
Budgeted Amounts
106
CITY OF SAN LEANDRO
Notes to Required Supplementary Information
For the year ended June 30, 2022
Budgets and Budgetary Accounting
The City adopts a biennial budget annually for all governmental fund types. This budget is effective July 1 through June 30 for each of the ensuing fiscal years. The second year of the biennial budget is amended during the mid-biennial budget cycle process. From the effective date of the budget, which is adopted and controlled at the department level, the amounts stated therein as proposed expenditures become appropriations to the various City departments. The City Council may amend the budget by resolution during the fiscal year. The City Manager is authorized to transfer budgeted amounts between departments and line items within any fund; however, any revisions that alter the total expenditures of any fund must be approved by the City Council. Transfers between funds must be approved by the City Council. All appropriations lapse at year-end, unless otherwise authorized by the City Council and the City Manager, except for capital improvement funds for which appropriations may be carried over for not more than five (5) fiscal years as per the City of San Leandro Charter, Section 520. The City did not budget Proposition 1B – Local Streets and Roads Fund and Housing In Lieu Fund.
Annual budgets are adopted on a basis consistent with generally accepted accounting principles except for capital projects funds, which are adopted on a project length basis, which means budgets, are used until the project’s completion, not to exceed five fiscal years, for the entire project amount.
Under encumbrance accounting, purchase orders, contracts and other commitments for the expenditures of monies are recorded in order to reserve that portion of the applicable appropriation. Encumbrance accounting is employed as an extension of the formal budgetary process. Encumbrances outstanding at year-end are carried over to the next fiscal year as part of that year’s budget resolution.
GAAP serves as the budgetary basis of accounting.
107
SUPPLEMENTARY INFORMATION
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Major Governmental Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Service charges $ 50,000 $ 8,803 $ (41,197)
Use of money and property 100 19 (81)
Total revenues 50,100 8,822 (41,278)
EXPENDITURES:
Current:
Engineering and transportation 12,436,764 2,317,396 10,119,368 Recreation and culture 2,500,000 - 2,500,000
Community development 18,188,583 3,128,076 15,060,507
Total expenditures 33,125,347 5,445,472 27,679,875
REVENUES OVER (UNDER) EXPENDITURES (33,075,247) (5,436,650) 27,638,597 OTHER FINANCING SOURCES (USES):
Transfer in 3,517,830 3,517,830 -
Transfer out (478,693) (478,693) -
NET CHANGE IN FUND BALANCES $ (30,036,110) (2,397,513) 27,638,597 $ FUND BALANCES:
Beginning of year 33,106,010
End of year $ 30,708,497
Capital Improvement Capital Projects Fund
110
NON-MAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
Affordable Housing Asset Fund – This fund accounts for assets received from affordable housing activities from the former Redevelopment Agency’s Low/Moderate Housing Fund and acts as its Successor Agency.
Street/Traffic Improvements – This fund accounts for development fee assessments levied to provide for partial funding of street and traffic improvements associated with commercial and residential growth.
Park Development Fee – This fund accounts for park development fee assessments levied to provide for partial funding for park development needs associated with residential growth.
Underground Utility Fee – This fund accounts for utility conversion project assessments levied to provide for the placement of overhead facilities underground. Assessment shall be expended only for expansion of, maintenance of or construction of Underground Utility Districts and facilities.
Parking – This fund accounts for parking meter and parking lot collections for maintenance of downtown parking facilities and other public parking locations.
Special Gas Tax – This fund accounts for revenues and expenditures received from the State of California under Street and Highways Code. The allocations must be spent for street maintenance and construction and a limited amount for engineering.
Cherrywood Maintenance District – This fund is used to account for the special assessment funding for the on-going maintenance of public facilities at the Cherrywood development.
Measure B Paratransit – This fund accounts for the City’s share of proceeds of a one-half cent sales tax increase originally approved by the voters in November 1986. The program is administered by the Alameda County Transportation Authority. The tax provides funds for AC transit and paratransit operations.
Asset Seizure – This fund accounts for funds received from asset forfeiture and used for public safety purposes.
Heron Bay – This fund accounts for maintenance assessments to fund ongoing maintenance of wetlands impacted by residential growth.
Proposition 1B Local Streets & Roads – This fund accounts for Proposition 1B funds for safety improvements and repairs to local streets and roads.
Special Grants – This fund accounts for various grants from the State of California and the Federal Government to be expended for a specific purpose, activity or facility.
Measure B – This fund accounts for the City's share of proceeds on a one-half cent sales tax increase originally approved by the voters in November 1986. The program is administered by the Alameda County Transportation Authority. The tax provides funds for eight specific projects within Alameda County including major freeway improvements and a major rail extension. 111
NON-MAJOR GOVERNMENTAL FUNDS (Continued)
SPECIAL REVENUE FUNDS (Continued)
Measure F – This fund accounts for the City's share of proceeds on a $10 increase in Vehicle Registration fees originally approved by the voters in November 2010. The program is administered by the Alameda County Transportation Authority. The tax provides funds for projects to reduce traffic congestion and vehicle related pollution.
C.D.B.G. – This fund accounts for federally funded grants through the Community Development Block Grant Program from the U.S. Department of Housing and Urban Development.
HOME – This fund accounts for federally funded grants from the U.S. Department of Housing and Urban Development to provide for community housing renovation programs.
Housing In-Lieu – This fund accounts for Housing In-Lieu assessments levied to provide for partial funding of low/moderate housing projects.
Business Improvement District – This fund accounts for service fees charged to business owners to provide a shuttle service from BART to the downtown business district.
Public Education & Government (PEG) Fund – This fund accounts for the Digital Infrastructure and Video Competition Act (DIVCA) of 2006, collecting 1% of gross revenues from state franchise holders.
The fund accounts for user fees charged to cable television customers to provide public education on government programs.
DEBT SERVICE FUND
Special Assessment District – This fund accumulates monies for payments of special assessment bonds which are financed by assessments placed on the Alameda County tax roll.
San Leandro Public Financing Authority Debt Service Fund – This fund accounts for the Certificates of Participation issued for the library and fire stations seismic retrofit. These Certificates of Participation were refunded by the issuance of the 2016 Lease Revenue Bonds. The debt will be paid back pursuant to lease agreements between the City of San Leandro and the San Leandro Public Finance Authority.
CAPITAL PROJECTS FUNDS
San Leandro Hillside Geological Hazardous Abatement District (GHAD) – This fund is used to account for the finances of the collaborative between the City of San Leandro and the Geological Hazardous Abatement.
112
City of San Leandro
Combining Balance Sheet
Non-Major Governmental Funds
Special Revenue Funds
Affordable Park Underground
Housing Street/ Traffic Development Utility
Asset Fund Improvements Fee Fee
Cash and investments $ 2,450,256 $ 1,611,986 $ 2,135,170 $ 3,093,587 Receivables:
Accounts 2,000 - - -
Federal, State, and local grants - - - -
Interest 5,308 3,996 6,527 7,733
Special assessments - - - -
Loans 646,984 - - -
Prepaids - - - -
Total Assets $ 3,104,548 $ 1,615,982 $ 2,141,697 $ 3,101,320 Accounts payable $ 718 $ 7,310 $ - $ -
Due to other funds - - - -
Total Liabilities 718 7,310 - -
Unavailable revenue - grants receivable - - - -
Total Deferred Inflow of resources - - - -
Fund Balances:
Nonspendable - - - -
Restricted 1,608,672 3,103,830 2,141,697 3,101,320
Unassigned - - - -
Total Fund Balances 3,103,830 1,608,672 2,141,697 3,101,320 Total Liabilities, Deferred Inflow of
Resources and Fund Balances $ 3,104,548 $ 1,615,982 $ 2,141,697 $ 3,101,320
DEFERRED INFLOW OF RESOURCES
June 30, 2022
ASSETS
LIABILITIES
114
Special Revenue Funds
Cherrywood Proposition IB
Special Maintenance Measure B Asset Local Streets
Parking Gas Tax District Paratransit Seizure Heron Bay & Roads $ 4,278,574 211,878 $ 507,084 $ 701,953 $ 952,518 $ 359,025 $ 13,812 $ 8,933 483,697 216 4,311 7,006 631 - - - - - - - - (512) 10,420 1,336 372 1,901 41 33 - - - - - - - - - - - - - - - - - - - - - $ 220,299 $ 4,772,691 $ 508,636 $ 706,636 $ 961,425 $ 359,697 $ 13,845 $ 95,109 $ 72,435 $ - $ 20,082 $ - $ 18,225 $ -
- 282,079 - - - - -
95,109 354,514 - 20,082 - 18,225 -
- - - - - - -
- - - - - - -
- - - - - - -
125,190 4,418,177 508,636 686,554 961,425 341,472 13,845 - - - - - - - 125,190 4,418,177 508,636 686,554 961,425 341,472 13,845 $ 220,299 $ 4,772,691 $ 508,636 $ 706,636 $ 961,425 $ 359,697 $ 13,845 (Continued)
115
City of San Leandro
Combining Balance Sheet
Non-Major Governmental Funds
Special Revenue Funds
Special
Grants Measure B Measure F C.D.B.G.
Cash and investments - $ 2,415,546 $ $ 1,111,926 $ 40,700 Receivables:
Accounts 183,245 $38,848 79,945 381,177
Federal, State, and local grants 3,649,288 20,600 - -
Interest 3,852 7,476 3,060 -
Special assessments - - - -
Loans - - - -
Prepaids - - - -
Total Assets $ 3,836,385 $ 2,482,470 $ 1,194,931 $ 421,877 Accounts payable $ 118,309 $ 277,677 $ - $ 123,204
Due to other funds 779,231 127,814 - 175,697
Total Liabilities 897,540 405,491 - 298,901
DEFERRED INFLOW OF RESOURCES
Unavailable revenue - grants receivable 3,649,288 - - - Total Deferred Inflow of resources 3,649,288 - - -
Fund Balances:
Nonspendable - - - -
Restricted - 2,076,979 1,194,931 122,976
Unassigned (710,443) - - -
Total Fund Balances (710,443) 2,076,979 1,194,931 122,976 Total Liabilities, Deferred Inflow of
Resources and Fund Balances $ 3,836,385 $ 2,482,470 $ 1,194,931 $ 421,877 ASSETS
LIABILITIES
June 30, 2022
116
Capital Projects
Special Revenue Funds Debt Service Funds Fund
Total
Business Public Special San Leandro Non-Major
Housing Improvement Education and Assessment Public Financing Governmental HOME In-Lieu District Government District Authority GHAD Funds $ 1,055,603 $ 73,985 $ 321,414 $ 679,357 $ 417,831 121 $ $ 13,622 $22,445,948 - - 163,254 39,472 - - - 1,392,735
- - - - - - - 3,669,888
3,557 314 582 473 - - - 56,469
- - 96 - - - - 96 - - - - - - - 646,984
- 184,500 - - - - - 184,500
$ 1,059,160 $ 258,799 $ 485,346 $ 719,302 $ 121 $ 417,831 $ 13,622 $ 28,396,620 $ - $ - $ 4,337 - $ $ 1,733 - $ $ - $ 739,139
- - - - - - - 1,364,821
- - - 4,337 - 1,733 - 2,103,960
- - - - - - 3,649,288 -
- - - - - - - 3,649,288
- - - - - - - -
1,059,160 258,799 485,346 714,965 416,098 121 13,622 23,353,815 - - - - - - - (710,443)
1,059,160 258,799 485,346 714,965 121 416,098 13,622 22,643,372 $ 1,059,160 $ 258,799 $ 485,346 $ 719,302 $ 121 $ 417,831 $ 13,622 $ 28,396,620 117
City of San Leandro
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Non-Major Governmental Funds
For the year ended June 30, 2022
Special Revenue Funds
Affordable Park Underground
Housing Street/Traffic Development Utility
Asset Fund Improvements Fee Fee
REVENUES:
Property and other taxes $ - $ - $ - $ -
Licenses and permits - 17,681 - -
Service charges - - - 64,077
Fines and forfeitures - - - -
Intergovernmental - - - -
Use of money and property (3,077) (37,928) (29,009) (62,713) Other 210,072 - 788,446 -
Total Revenues 206,995 (20,247) 759,437 1,364
EXPENDITURES:
Current:
Public safety - - - -
Engineering and transportation - 310,742 - 23,975
Recreation and culture - - 17,950 -
Community development 88,178 - - -
Debt service:
Principal - - - -
Interest and fees - - - -
Total Expenditures 88,178 310,742 17,950 23,975
REVENUES OVER
(UNDER) EXPENDITURES 118,817 (330,989) 741,487 (22,611) OTHER FINANCING SOURCES:
Transfer in - - - -
Transfer out - - - -
Total Other Financing Sources - - - -
NET CHANGE IN FUND BALANCES 118,817 (330,989) 741,487 (22,611) FUND BALANCES (DEFICITS):
Beginning of year 2,985,013 1,939,661 1,400,210 3,123,931 End of year $ 3,103,830 $ 1,608,672 $ 2,141,697 $ 3,101,320 118
Special Revenue Funds
Cherrywood Proposition IB
Special Maintenance Measure B Asset Local Streets
Parking Gas Tax District Paratransit Seizure Heron Bay & Roads $ - $ - $ 27,558 $ - $ - 313,254 $ $ -
214,485 - - - - - -
- - - - - - -
86,175 - - - - - -
- 3,822,910 - 302,364 7,006 - -
(1,702) (43,263) (9,801) (734) (23,004) (10,882) (285) - 180 - - - - - 298,958 3,779,827 17,757 301,630 (15,998) 302,372 (285) - - - - 126,769 - -
691,376 3,286,064 459 163,902 - 412,272 - - - - - - - - - - - - - - -
- - - - - - - - - - - - 3,405 -
691,376 3,286,064 459 163,902 126,769 415,677 -
(392,418) 493,763 17,298 137,728 (142,767) (113,305) (285) 550,000 4,235,826 - - - - -
- (1,900,000) - - - - -
550,000 2,335,826 - - - - -
157,582 2,829,589 17,298 137,728 (142,767) (113,305) (285) (32,392) 1,588,588 491,338 548,826 1,104,192 454,777 14,130 $ 125,190 $ 4,418,177 $ 508,636 $ 686,554 $ 961,425 $ 341,472 $ 13,845 (Continued)
119
City of San Leandro
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Non-Major Governmental Funds
For the year ended June 30, 2022
Special Revenue Funds
Special
Grants Measure B Measure F C.D.B.G.
REVENUES:
Property and other taxes $ - $ - $ - $ -
Licenses and permits - - - -
Service charges - - - -
Fines and forfeitures - - - -
Intergovernmental 1,290,926 1,709,988 467,747 931,231
Use of money and property 12,525 (41,896) (24,116) -
Other 2,546 411,736 - 5,837
Total Revenues 1,305,997 2,079,828 443,631 937,068
EXPENDITURES:
Current:
Public safety 61,885 - - -
Engineering and transportation 811,583 2,712,622 836,089 - Recreation and culture 387,837 - - -
Community development 486,180 - - 802,438
Debt service:
Principal - - - 132,000
Interest and fees - - - 46,246
Total Expenditures 1,747,485 2,712,622 836,089 980,684
REVENUES OVER
(UNDER) EXPENDITURES (632,794) (441,488) (392,458) (43,616) OTHER FINANCING SOURCES:
Transfer in 152,600 - - -
Transfer out (1,173,476) - - -
Total Other Financing Sources - (1,020,876) - -
NET CHANGE IN FUND BALANCES (1,462,364) (632,794) (392,458) (43,616) FUND BALANCES (DEFICITS):
Beginning of year 751,921 2,709,773 1,587,389 166,592
End of year $ 2,076,979 (710,443) $ 1,194,931 $ 122,976 $ 120
Capital Projects
Special Revenue Funds Debt Service Funds Fund
Total
Business Public Special San Leandro Nonmajor
Housing Improvement Education and Assessment Public Financing Governmental HOME In-Lieu District Government District Authority GHAD Funds $ - $ - $ 158,982 - $ $ - $ - $ 499,794 - $
- - 404,182 - - - - 636,348
- - - - - - - 64,077
- - - - - - - 86,175
- - 317,604 - - - - 8,849,776
(18,406) (4,709) (4,547) (14,695) - 3,173,991 - 2,855,749 162,683 - - - - - - 1,581,500
144,277 (4,709) 717,239 144,287 - 3,173,991 - 14,573,419 - - - - - - - 188,654
- - - - - - - 9,249,084
- - - - - - - 405,787
9,682 - 800,000 102,856 - - - 2,289,334
- - - - - 1,651,000 - 1,783,000
- - - - - 1,530,499 - 1,580,150
9,682 - 800,000 102,856 - 3,181,499 - 15,496,009
134,595 (4,709) (82,761) 41,431 - (7,508) - (922,590)
- - 50,000 - - - - 4,988,426
- - - - - - - (3,073,476)
- - 50,000 - - - - 1,914,950
134,595 (4,709) (32,761) 41,431 - (7,508) - 992,360
924,565 263,508 518,107 673,534 121 423,606 13,622 21,651,012 $ 1,059,160 $ 258,799 $ 485,346 $ 714,965 $ 121 $ 416,098 $ 13,622 $ 22,643,372 121
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Affordable Housing Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Use of money and property $ 55,000 $ (3,077) $ (58,077) Other 140,000 210,072 70,072
Total Revenues 195,000 206,995 11,995
EXPENDITURES:
Current:
Community development 1,685,371 88,178 1,597,193
Total Expenditures 1,685,371 88,178 1,597,193
NET CHANGE IN FUND BALANCES $ (1,490,371) 118,817 $ 1,609,188 FUND BALANCES:
Beginning of year 2,985,013
End of year $ 3,103,830
122
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Street/Traffic Improvements Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Licenses and permits $ 425,000 $ 17,681 $ (407,319)
Use of money and property 29,000 (37,928) (66,928)
Total Revenues 454,000 (20,247) (474,247)
EXPENDITURES:
Current:
Engineering and transportation 1,235,115 310,742 924,373 Total Expenditures 1,235,115 310,742 924,373
NET CHANGE IN FUND BALANCES $ (781,115) (330,989) $ 450,126 FUND BALANCES:
Beginning of year 1,939,661
End of year $ 1,608,672
123
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Park Development Fee Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Use of money and property $ 13,000 $ (29,009) $ (42,009) Other 1,000,000 788,446 (211,554)
Total Revenues 1,013,000 759,437 (253,563)
EXPENDITURES:
Current:
Recreation and culture 4,743,785 17,950 4,725,835
Total Expenditures 4,743,785 17,950 4,725,835
NET CHANGE IN FUND BALANCES $ (3,730,785) 741,487 $ 4,472,272 FUND BALANCES:
Beginning of year 1,400,210
End of year $ 2,141,697
124
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Use of money and property $ 25,000 $ (62,713) $ (87,713) Service charges 325,000 64,077 (260,923)
Total Revenues 350,000 1,364 (348,636)
EXPENDITURES:
Current:
Engineering and transportation 1,904,309 23,975 1,880,334 Total Expenditures 1,904,309 23,975 1,880,334
NET CHANGE IN FUND BALANCES $ (1,554,309) (22,611) $ 1,531,698 FUND BALANCES:
Beginning of year 3,123,931
End of year $ 3,101,320
Underground Utility Fees Special Revenue Fund
125
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Parking Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Licenses and permits 216,150 $ 214,485 $ (1,665) $
Fines and forfeitures 100,000 86,175 (13,825)
Use of money and property 3,000 (1,702) (4,702)
Total revenues 319,150 298,958 (20,192)
EXPENDITURES:
Current:
Engineering and transportation 696,803 691,376 5,427
Total expenditures 696,803 691,376 5,427
OTHER FINANCING SOURCES:
Transfers in 550,000 550,000 -
Total expenditures 550,000 550,000 -
NET CHANGE IN FUND BALANCES $ 172,347 157,582 $ (14,765) FUND BALANCES:
Beginning of year (32,392)
End of year $ 125,190
126
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Special Gas Tax Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Intergovernmental 4,065,730 $ 3,822,910 $ (242,820) $
Use of money and property 22,000 (43,263) (65,263)
Other - 180 180
Total revenues 4,087,730 3,779,827 (307,903)
EXPENDITURES:
Current:
Engineering and transportation 6,886,659 3,286,064 3,600,595 Total expenditures 6,886,659 3,286,064 3,600,595
OTHER FINANCING SOURCES:
Transfers in 4,235,826 4,235,826 -
Transfers out (1,900,000) (1,900,000) -
Total expenditures 2,335,826 2,335,826 -
NET CHANGE IN FUND BALANCES $ (463,103) 2,829,589 $ 3,292,692 FUND BALANCES:
Beginning of year 1,588,588
End of year $ 4,418,177
127
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Cherrywood Maintenance District Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Property and other taxes $ - $ 27,558 $ 27,558
Use of money and property 4,000 (9,801) (13,801)
Total revenues 4,000 17,757 13,757
EXPENDITURES:
Current:
Engineering and transportation 452 459 (7)
Total expenditures 452 459 (7)
NET CHANGE IN FUND BALANCES $ 3,548 17,298 $ 13,750
FUND BALANCES:
Beginning of year 491,338
End of year $ 508,636
128
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Intergovernmental $ 127,513 $ 302,364 $ 174,851
Use of money and property (734) (734)
Total revenues 127,513 301,630 174,117
EXPENDITURES:
Current:
Engineering and transportation 981,527 163,902 817,625
Total expenditures 981,527 163,902 817,625
REVENUES OVER (UNDER) EXPENDITURES:
(854,014) 138,462 (642,774)
NET CHANGE IN FUND BALANCES $ (854,014) 137,728 $ 991,742 FUND BALANCES:
Beginning of year 548,826
End of year $ 686,554
Measure B - Paratransit Special Revenue Fund
129
-
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Asset Seizure Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Intergovernmental $ 150,000 $ 7,006 $ (142,994)
Use of money and property 10,000 (23,004) (33,004)
Total revenues 160,000 (15,998) (175,998)
EXPENDITURES:
Current:
Public safety 450,182 126,769 323,413
Total expenditures 450,182 126,769 323,413
NET CHANGE IN FUND BALANCES $ (290,182) (142,767) $ 147,415 FUND BALANCES:
Beginning of year 1,104,192
End of year $ 961,425
130
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Heron Bay Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Property and other taxes $ 370,000 $ 313,254 $ (56,746) Use of money and property 5,000 (10,882) (15,882)
Total revenues 375,000 302,372 (72,628)
EXPENDITURES:
Current:
Engineering and transportation 696,346 412,272 284,074
Debt service:
Interest and fees 3,400 3,405 (5)
Total expenditures 699,746 415,677 284,069
NET CHANGE IN FUND BALANCES $ (324,746) (113,305) $ (211,441) FUND BALANCES:
Beginning of year 454,777
End of year $ 341,472
131
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Proposition 1B - Local Streets & Roads Special Revenue Fund For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Use of money and property $ (200) $ (285) $ (85)
Total revenues (200) (285) (85)
NET CHANGE IN FUND BALANCES $ (200) (285) $ (85)
FUND BALANCES:
Beginning of year 14,130
End of year $ 13,845
132
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Special Grants Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Intergovernmental 7,506,136 $ 1,290,926 $ (6,215,210) $ Use of money and property - 12,525 12,525
Other - 2,546 2,546
Total revenues 7,506,136 1,305,997 (6,200,139)
EXPENDITURES:
Current:
General Government 1,499,400 - 1,499,400
Public safety 369,652 61,885 307,767
Engineering and transportation 4,674,275 811,583 3,862,692 Community development 642,771 486,180 156,591
Recreation and culture 3,187,305 387,837 2,799,468
Total expenditures 10,373,403 1,747,485 8,625,918
REVENUES OVER (UNDER) EXPENDITURES (2,867,267) (441,488) (14,826,057) OTHER FINANCING SOURCES:
Transfers in 152,600 152,600 -
Transfers out - (1,173,476) (1,173,476)
Total Other Financing Sources (Uses) 152,600 (1,020,876) (1,173,476) NET CHANGE IN FUND BALANCES $ (2,714,667) (1,462,364) $ 1,252,303 FUND BALANCES:
Beginning of year 751,921
End of year $ (710,443)
133
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Measure B Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Intergovernmental 1,920,000 $ 1,709,988 $ (210,012) $
Use of money and property 10,000 (41,896) (51,896)
Other 110,000 411,736 301,736
Total revenues 2,040,000 2,079,828 39,828
EXPENDITURES:
Current:
Engineering and transportation 9,388,114 2,712,622 6,675,492 Total expenditures 9,388,114 2,712,622 6,675,492
NET CHANGE IN FUND BALANCES $ (7,348,114) (632,794) $ 6,715,320 FUND BALANCES:
Beginning of year 2,709,773
End of year $ 2,076,979
134
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Measure F - (Vehicle Registration Fees) Special Revenue Fund For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Intergovernmental $ 440,000 $ 467,747 $ 27,747
Use of money and property 6,000 (24,116) (30,116)
Total revenues 446,000 443,631 (2,369)
EXPENDITURES:
Current:
Engineering and transportation 2,525,542 836,089 1,689,453 Total expenditures 2,525,542 836,089 1,689,453
NET CHANGE IN FUND BALANCES $ (2,079,542) (392,458) $ 1,687,084 FUND BALANCES:
Beginning of year 1,587,389
End of year $ 1,194,931
135
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
C.D.B.G. Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Intergovernmental $ 763,357 $ 931,231 $ 167,874
Other - 5,837 (5,837)
Total revenues 763,357 937,068 162,037
EXPENDITURES:
Current:
Community development 1,521,466 802,438 719,028
Debt service:
Principal 132,000 132,000 -
Interest and fees 46,246 46,246 -
Total expenditures 1,699,712 980,684 719,028
NET CHANGE IN FUND BALANCES $ (936,355) (43,616) $ 892,739 FUND BALANCES:
Beginning of year 166,592
End of year $ 122,976
136
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
HOME Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Intergovernmental $ 150,000 $ - $ (150,000)
Use of money and property 4,000 (18,406) (22,406)
Other 50,000 162,683 112,683
Total revenues 204,000 144,277 (59,723)
EXPENDITURES:
Current:
Community development 9,683 9,682 1
Total expenditures 9,683 9,682 1
NET CHANGE IN FUND BALANCES $ 194,317 134,595 $ (59,722) FUND BALANCES:
Beginning of year 924,565
End of year $ 1,059,160
137
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Housing In-Lieu Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Use of money and property $ 1,000 $ (4,709) $ (5,709)
License and permits 2,000 - -
Total revenues 3,000 (4,709) (5,709)
NET CHANGE IN FUND BALANCES $ 3,000 (4,709) $ (7,709)
FUND BALANCES:
Beginning of year 263,508
End of year $ 258,799
138
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Business Improvement District Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Licenses and permits $ 356,000 $ 404,182 $ 48,182
Intergovernmental 394,400 317,604 (76,796)
Use of money and property 1,000 (4,547) (5,547)
Total revenues 751,400 717,239 (34,161)
EXPENDITURES:
Current:
Community development 800,400 800,000 400
Total expenditures 800,400 800,000 400
OTHER FINANCING SOURCES:
Transfers in 50,000 50,000 -
NET CHANGE IN FUND BALANCES $ 1,000 (32,761) $ (33,761) FUND BALANCES:
Beginning of year 518,107
End of year $ 485,346
139
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
Public Education and Government Special Revenue Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Property and other taxes 200,000 $ 158,982 $ (41,018) $ Use of money and property 7,000 (14,695) (21,695)
Total revenues 207,000 144,287 (62,713)
EXPENDITURES:
Current:
Community development 322,083 102,856 219,227
Total expenditures 322,083 102,856 219,227
NET CHANGE IN FUND BALANCES $ (115,083) 41,431 $ 156,514 FUND BALANCES:
Beginning of year 673,534
End of year $ 714,965
140
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Property and other taxes $ - $ - $ -
Use of money and property - - -
Total revenues - - -
EXPENDITURES:
Debt service:
Interest and fees - - -
Total expenditures - - -
NET CHANGE IN FUND BALANCES $ - - $ -
FUND BALANCES:
Beginning of year 121
End of year $ 121
Special Assessment District Debt Service Fund
141
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
San Leandro Public Financing Authority Debt Service Fund For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
REVENUES:
Use of money and property $ 3,180,376 $ 3,173,991 $ (6,385) Total revenues 3,180,376 3,173,991 (6,385)
EXPENDITURES:
Debt service:
Principal 1,651,000 1,651,000 -
Interest and fees 1,530,499 1,530,499 -
Total expenditures 3,181,499 3,181,499 -
NET CHANGE IN FUND BALANCES $ (1,123) (7,508) $ (6,385) FUND BALANCES:
Beginning of year 423,606
End of year $ 416,098
142
City of San Leandro
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Non Major Governmental Fund
San Leandro Hillside Geological Abatement Fund (GHAD) Capital Projects Fund For the year ended June 30, 2022
Variance
Final Positive
Budget Actual (Negative)
EXPENDITURES:
Current:
Engineering and transportation $ 14,265 $ - $ 14,265
Total expenditures 14,265 - 14,265
NET CHANGE IN FUND BALANCES $ (14,265) - $ 14,265
FUND BALANCES:
Beginning of year 13,622
End of year $ 13,622
143
NON-MAJOR ENTERPRISE FUNDS
Storm Water Utility – Provides for the City’s storm water program in conjunction with the National Pollutant Discharge and Emissions Services Act.
Environmental Services – Accounts for the regulation of hazardous materials, wastewater discharge, storm water runoff, solid waste and recycling, and the landfill at the Marina. 145
City of San Leandro
Combining Statement of Net Position
Non-Major Enterprise Funds
June 30, 2022
Total
Non-Major
Storm Water Environmental Enterprise
Utility Services Funds
Current Assets:
Cash and investments $ 34,007 $ 1,953,142 $ 1,987,149
Receivables:
Accounts 7,707 95,715 103,422
Interest - 5,431 5,431
Total current assets 41,714 2,054,288 2,096,002
Noncurrent assets:
Capital assets:
Depreciable 15,696 4,598 20,294
Less accumulated depreciation (15,439) (4,598) (20,037) Total noncurrent assets 257 - 257
Total Assets 41,971 2,054,288 2,096,259
Current Liabilities:
Accounts payable 11,517 16,239 27,756
Due to other funds 1,892,989 - 1,892,989
Compensated absences - due in one year 22,215 23,351 45,566 Total current liabilities 1,926,721 39,590 1,966,311
Non-current Liabilities:
Compensated absences - due in more than one year 66,645 70,052 136,697 Total Liabilities 1,993,366 109,642 2,103,008
Net investment in capital asset 257 - 257
Unrestricted (1,951,652) 1,944,646 (7,006)
Total Net Position (Deficit) $ (1,951,395) $ 1,944,646 $ (6,749) ASSETS
LIABILITIES
NET POSITION (DEFICIT)
146
City of San Leandro
Combining Statement of Revenues, Expenses, and Changes in Net Position Non-Major Enterprise Funds
For the year ended June 30, 2022
Total
Non-Major
Storm Water Environmental Enterprise
Utility Services Funds
OPERATING REVENUES
Charges for services $ 1,081,131 $ - $ 1,081,131
Licenses and permits - 424,964 424,964
Other operating revenue 3,405 32,107 35,512
Total operating revenues 1,084,536 457,071 1,541,607
OPERATING EXPENSES
Salaries and benefits 807,242 534,258 1,341,500
Contractual and other services 261,900 74,325 336,225
Material and supplies 20,558 39,931 60,489
Other operating costs 493,833 115,156 608,989
Total operating expenses 1,583,533 763,670 2,347,203
OPERATING INCOME (LOSS) (498,997) (306,599) (805,596)
NONOPERATING REVENUES (EXPENSES):
Investment income - (37,078) (37,078)
Intergovernmental - 356,393 356,393
Total Nonoperating Revenues (Expenses) - 319,315 319,315 Change in net position (498,997) 12,716 (486,281)
NET POSITION (DEFICIT):
Beginning of year 1,931,930 (1,452,398) 479,532
End of year $ 1,944,646 (1,951,395) $ (6,749) $
147
City of San Leandro
Combining Statement of Cash Flows
Non-Major Enterprise Funds
For the year ended June 30, 2022
Total
Non-Major
Storm Water Environmental Enterprise
Utility Services Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers 1,084,319 $ 500,322 $ 1,584,641 $ Cash received from other funds 487,431 - 487,431
Cash payments to suppliers and service providers (774,808) (220,730) (995,538) Cash payments to employees for services (762,935) (573,675) (1,336,610) Net cash provided (used) by operating activities 34,007 (294,083) (260,076)
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:
Intergovernmental revenue received - 356,393 356,393
Net cash provided (used) by noncapital financing activities - 356,393 356,393
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:
Acquisition of capital assets - - -
Net cash provided (used) by capital and related financing activities - - - CASH FLOWS FROM INVESTING ACTIVITIES:
Change in market values of investments - (70,085) (70,085) Interest income - 32,147 32,147
Net cash provided (used) by investing activities - (37,938) (37,938) Net increase (decrease) in cash and cash equivalents 34,007 24,372 58,379 CASH AND CASH EQUIVALENTS:
Beginning of year - 1,928,770 1,928,770
End of year $ 1,953,142 34,007 $ 1,987,149 $
RECONCILIATION OR OPERATING INCOME (LOSS) TO NET
CASH PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating income (loss) (498,997) $ (306,599) $ (805,596) $ Adjustments to reconcile operating income (loss) to net cash provided (used) by operating activities:
Changes in assets and liabilities:
(Increase) decrease in accounts receivable (217) 43,251 43,034 (Decrease) increase in accounts payable 1,483 8,682 10,165 (Decrease) increase due to other funds 487,431 - 487,431 (Decrease) increase in compensated absences 44,307 (39,417) 4,890 Total adjustments 533,004 12,516 545,520
Net cash provided (used) by operating activities $ 34,007 $ (294,083) $ (260,076) 148
INTERNAL SERVICE FUNDS
Internal Service Funds are used to account for special activities and services performed by a designated City department for other departments on a cost reimbursement basis.
Building Maintenance – This fund accounts for the City’s custodial maintenance and minor building modifications performed on various City complexes. The source of revenue is reimbursement of costs for services performed to the departments.
Information Management Services – The fund accounts for centralized data processing and the maintenance, acquisition and replacement of computerized systems. Sources of revenue for this fund are reimbursement of costs for services and equipment purchased by other departments.
Self-Insurance – This fund accounts for the administration of the City’s self-insurance programs, payment of worker’s compensation and liability claims payments.
Equipment Maintenance – This fund accounts for the maintenance and replacement of vehicles and equipment used by all City departments. Source of revenues for this fund is reimbursement of costs for services and supplies purchased by other departments.
149
City of San Leandro
Combining Statement of Net Position
Internal Service Funds
June 30, 2022
Information
Building Management Self - Equipment
Maintenance Services Insurance Maintenance Total
Cash and investments $ 486,773 $ 1,888,910 $ 11,341,175 $ 5,350,866 $ 19,067,724 Receivables:
Accounts - 1,010 - - 1,010
Interest (1,315) 3,886 28,121 14,974 45,666
Inventory and prepaids 11,881 34,427 - 244,724 291,032
Total current assets 497,339 1,928,233 11,369,296 5,610,564 19,405,432 Capital assets:
Depreciable 79,688 6,214,958 - 12,704,055 18,998,701
Less accumulated depreciation (39,507) (5,794,531) - (7,434,776) (13,268,814) Total Net capital assets 40,181 420,427 - 5,269,279 5,729,887 Total noncurrent assets 40,181 420,427 - 5,269,279 5,729,887 Total Assets 537,520 2,348,660 11,369,296 10,879,843 25,135,319 Current Liabilities:
Accounts payable 206,435 242,296 389,309 83,074 921,114 Other liabilities - 968,085 - - 968,085
Claims and judgments - due in one year - 4,251,981 - 4,251,981 - Compensated absences payable - due in one year 24,602 32,211 3,297 9,453 69,563 Total current liabilities 231,037 274,507 5,612,672 92,527 6,210,743 Noncurrent Liabilities:
Claims and judgments - due in more than one year - 2,817,888 - 2,817,888 - Compensated absences - due in more than one year 82,362 107,836 11,036 31,645 232,879 Total noncurrent liabilities 82,362 107,836 2,828,924 31,645 3,050,767 Total Liabilities 313,399 382,343 8,441,596 124,172 9,261,510 Net investment in capital assets 40,181 420,427 - 5,269,279 5,729,887 Unrestricted 183,940 1,545,890 2,927,700 5,486,392 10,143,922 Total Net Position $ 224,121 $ 1,966,317 $ 2,927,700 $ 10,755,671 $ 15,873,809
LIABILITIES
NET POSITION
ASSETS
150
City of San Leandro
Combining Statement of Revenues, Expenses and Changes in Fund Net Position Internal Service Funds
For the year ended June 30, 2022
Information
Building Management Self - Equipment
Maintenance Services Insurance Maintenance Total
OPERATING REVENUES:
Service charges 3,543,387 $ 4,185,813 $ 5,753,918 $ 3,788,817 $ 17,271,935 $ Other operating revenues 399 1,335 251,761 162,004 415,499 Total Operating Revenues 3,543,786 4,187,148 6,005,679 3,950,821 17,687,434 OPERATING EXPENSES:
Salaries and benefits 1,360,205 1,791,087 324,496 677,714 4,153,502 Contractual and other services 1,943,260 2,178,345 6,382,013 429,548 10,933,166 Materials and supplies 299,386 48,191 188 656,507 1,004,272 Depreciation 6,447 72,972 - 1,271,554 1,350,973
Other operating costs 681,696 495,133 102,345 302,017 1,581,191 Total Operating Expenses 4,290,994 4,585,728 6,809,042 3,337,340 19,023,104 OPERATING INCOME (LOSS) (747,208) (398,580) (803,363) 613,481 (1,335,670)
NONOPERATING REVENUES (EXPENSES)
Interest income (23,050) (37,825) (210,807) (85,377) (357,059) Total nonoperating revenues (expenses) (23,050) (37,825) (210,807) (85,377) (357,059) INCOME BEFORE TRANSFERS (770,258) (436,405) (1,014,170) 528,104 (1,692,729) TRANSFERS:
Transfers in - 300,000 - 178,693 478,693
Change in net position (770,258) (136,405) (1,014,170) 706,797 (1,214,036) NET POSITION:
Beginning of the year 994,379 2,102,722 3,941,870 10,048,874 17,087,845 End of the year $ 224,121 $ 1,966,317 $ 2,927,700 $ 10,755,671 $ 15,873,809 151
City of San Leandro
Combining Statement of Cash Flows
Internal Service Funds
For the year ended June 30, 2022
Information
Building Management Self - Equipment
Maintenance Services Insurance Maintenance Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from customers 399 $ $ 325 $ 741,395 $ 162,004 $ 904,123 Receipts from interfund charges 3,543,387 4,236,135 5,753,918 3,788,817 17,322,257 Cash payments to suppliers and service providers (2,882,896) (2,566,786) (6,263,080) (1,435,135) (13,147,897) Cash payments to employees for services (1,269,385) (1,800,707) (322,400) (678,809) (4,071,301) Net cash provided (used) by operating activities (131,033) (608,495) (90,167) 1,836,877 1,007,182
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:
Transfers in from other funds - 300,000 - 178,693 478,693 Net cash provided (used) by noncapital
financing activities - 300,000 - 178,693 478,693
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:
Acquisition of capital assets 665 (411,653) - (816,234) (1,227,222) Net cash provided (used) by capital
and related financing activities 665 (411,653) - (816,234) (1,227,222) CASH FLOWS FROM INVESTING ACTIVITIES:
Change in market values of investments (36,644) (68,254) (384,334) (165,358) (654,590) Interest income 20,404 32,015 170,649 74,629 297,697
Cash Flows from Investing Activities (36,239) (16,240) (213,685) (90,729) (356,893) Net Cash Flows (278,925) (624,070) (303,852) 1,108,607 (98,240) CASH AND CASH EQUIVALENTS:
Cash and investments at beginning of year 1,110,843 2,167,835 11,645,027 4,242,259 19,165,964 Cash and investments at end of year $ 1,888,910 486,773 $ 11,341,175 $ 5,350,866 $ 19,067,724 $
RECONCILIATION OF OPERATING
INCOME (LOSS TO NET CASH PROVIDED
(USED) BY OPERATING ACTIVITIES:
Operating income (loss) $ (747,208) $ (398,580) $ (803,363) $ 613,481 $ (1,335,670) Adjustments to reconcile operating income (loss)
to net cash provided (used) by operating activities:
Depreciation 6,447 72,972 - 1,271,554 1,350,973
Change in assets and liabilities:
(Increase) decrease in accounts receivable - (1,010) 489,634 - 488,624 (Increase) decrease in inventory - 50,322 - (79,236) (28,914) (Decrease) increase in accounts payable 41,446 154,883 264,755 32,173 493,257 (Decrease) increase in other liabilities - - (61,524) - (61,524) (Decrease) increase in claims and judgments payable - - 18,235 - 18,235 (Decreased) increase in compensated absences 90,820 (9,620) 2,096 (1,095) 82,201 Total cash provided (used) by operating activities $ (131,033) (608,495) $ (90,167) $ 1,836,877 $ 1,007,182 $ 152
STATISTICAL SECTION
Contents Page
Financial Trends 155
Revenue Capacity 163
Debt Capacity 175
Demographic and Economic Information 183
Operating Information 187
These schedules contain service and infrastructure data to help the reader understand how the information in the city's financial report relates to the services the city provides and the activities it performs.
This section of the City of San Leandro's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the city's overall financial health.
These schedules contain trend information to help the reader understand how the city's financial performance and well-being have changed over time.
These schedules contain information to help the reader assess the city's most significant local revenue sources, sales tax and property tax.
These schedules present information to help the reader assess the affordability of the city's current levels of outstanding debt and the city's ability to issue additional debt in the future.
These schedules offer demographic and economic indicators to help the reader understand the environment within which the city's financial activities take place. 153
FINANCIAL TRENDS
Net Position by Component Unit - Last Ten Fiscal Years
Changes in Net Position - Last Ten Fiscal Years
Program Revenues by Function / Program - Last Ten Fiscal Years Fund Balances of Governmental Funds - Last Ten Fiscal Years General Fund Revenue by Source - Last Ten Fiscal Years
Changes in Fund Balance of Governmental Funds - Last Ten Fiscal Years These schedules contain trend information to help the reader understand how the city's financial performance and well-being have changed over time.
155
City of San Leandro
Net Position by Component UnitLast Ten Fiscal Years(Accrual Basis of Accounting) Governmental Activities 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 219,701,797 $ 225,401,873 $ 212,967,616 $ 200,560,064 $ 190,556,178 $ 181,178,754 $ 152,522,070 $ 147,336,413 $ 146,227,950 $ 139,036,949 $ Restricted 24,162,116 14,371,041 21,206,626 23,680,435 31,647,662 41,104,032 63,079,453 64,472,691 51,588,031 51,233,996 Unrestricted 33,524,445 28,282,857 (98,955,552) (77,776,029) (67,544,332) (84,962,486) (88,393,775) (90,215,808) (70,341,620) (45,191,914) Total Governmental Activities Net Position 277,388,358 $ 268,055,771 $ 135,218,690 $ 146,464,470 $ 154,659,508 $ 137,320,300 $ 127,207,748 $ 121,593,296 $ 127,474,361 $ 145,079,031 $ Business-Type Activities 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 32,979,235 $ 31,512,875 $ 32,505,629 $ 30,434,444 $ 31,056,113 $ 34,872,307 $ 38,661,914 $ 41,645,101 $ 39,934,659 $ 45,175,278 $ Restricted - - - - - - - - - -
Unrestricted 15,002,725 21,031,537 12,609,167 18,050,170 20,616,425 17,962,702 20,090,760 16,938,807 25,724,305 25,516,257 Total Business-Type Activities Net Position 47,981,960 $ 52,544,412 $ 45,114,796 $ 48,484,614 $ 51,672,538 $ 52,835,009 $ 58,752,674 $ 58,583,908 $ 65,658,964 $ 70,691,535 $ Primary government 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 252,681,032 $ 256,914,748 $ 245,473,245 $ 230,994,508 $ 221,612,291 $ 216,051,061 $ 191,183,984 $ 188,981,514 $ 186,162,609 $ 184,212,227 $ Restricted 24,162,116 14,371,041 21,206,626 23,680,435 31,647,662 41,104,032 63,079,453 64,472,691 51,588,031 51,233,996 Unrestricted 48,527,170 49,314,394 (86,346,385) (59,725,859) (46,927,907) (66,999,784) (68,303,015) (73,277,001) (44,617,315) (19,675,657) Total Governmental Activities Net Position 325,370,318 $ 320,600,183 $ 180,333,486 $ 194,949,084 $ 206,332,046 $ 190,155,309 $ 185,960,422 $ 180,177,204 $ 193,133,325 $ 215,770,566 $ Source: City of San Leandro Annual Comprehensive Financial Report (ACFR) - Statement of Net Position Net investment in capital assetsNet investment in capital assetsNet investment in capital assetsNote: (1) Large negative amount in 2015 is due to the implementation of GASB 68. -100,000,000
-50,000,000
0 50,000,000
350,000,000300,000,000250,000,000200,000,000150,000,000100,000,000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Net investment in capital assets Restricted Unrestricted 157
City of San Leandro
Changes in Net PositionLast Ten Fiscal Years(accrual basis of accounting) Expenses: 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022Governmental activities: General government 13,166,855 $ 11,609,391 $ 10,896,679 $ 7,923,300 $ 8,524,377 $ 13,658,584 $ 14,053,667 $ 13,979,398 $ 10,695,243 $ 5,526,031 $ Public safety 45,465,294 47,180,237 47,989,126 52,944,433 54,510,194 64,971,782 68,742,284 73,021,991 78,812,214 84,150,324 Engineering & Transportation 25,662,305 31,712,176 30,566,925 31,476,280 28,124,152 32,933,260 35,750,270 32,594,161 23,380,477 35,676,370 Recreation & Culture 11,586,223 11,786,787 11,667,158 13,824,385 13,228,291 14,756,277 14,087,453 13,337,227 11,113,653 12,111,560 Community Development 4,904,402 5,389,381 5,704,907 6,840,393 8,134,895 10,216,834 10,390,977 15,377,114 17,849,902 12,284,760 Interest on long-term debt 2,548,119 2,097,257 2,156,400 1,764,322 2,218,025 1,677,316 1,794,526 1,827,883 2,201,522 2,541,072 Total governmental activities expenses 103,333,198 109,775,229 108,981,195 114,773,113 114,739,934 138,214,053 144,819,177 150,137,774 144,053,011 152,290,117Business-type activities: Water Pollution Control 7,499,555 7,978,058 8,802,564 13,534,488 10,795,950 12,184,473 11,814,460 15,233,737 14,588,118 11,456,337 Shoreline 1,861,532 1,922,489 1,691,932 1,839,667 1,754,842 1,786,193 1,677,896 2,094,266 5,393,167 5,389,583 Storm Water Utility 978,816 1,078,252 1,105,054 1,212,469 1,106,011 1,412,257 1,407,078 1,417,416 1,551,666 1,583,533 Environmental Services 1,175,257 1,027,054 1,020,388 1,189,985 1,065,885 1,095,232 1,061,370 1,081,674 807,630 763,670 Total business-type activities expenses 11,515,160 12,005,853 12,619,938 17,776,609 14,722,688 16,478,155 15,960,804 19,827,093 22,340,581 19,193,123 Total primary government expenses 114,848,358 121,781,082 121,601,133 132,549,722 129,462,622 154,692,208 160,779,981 169,964,867 166,393,592 171,483,240 Program revenues:Governmental activities: General government Property taxes 17,631,582 18,514,127 18,898,038 20,044,219 20,858,027 22,994,212 24,123,875 26,307,855 26,664,153 27,772,678 Sales taxes 26,304,583 29,097,614 32,948,155 42,336,643 41,727,835 42,990,223 45,865,704 44,654,873 49,574,497 54,686,116 Franchise Fees 4,444,251 4,581,920 4,845,086 4,968,614 5,102,904 5,269,391 5,192,138 5,648,900 5,844,069 5,951,091 Utility Users Tax 9,888,123 10,157,762 10,359,050 10,807,581 10,975,234 10,719,315 10,182,141 10,529,901 10,830,889 11,611,644 Property Transfer Tax 2,956,419 3,282,026 4,112,030 4,460,568 5,459,316 5,176,403 5,372,712 3,788,439 9,558,694 14,957,472 911 Communication Access Tax 2,723,255 2,804,181 2,974,313 2,917,993 2,890,302 3,035,256 3,110,165 3,123,155 3,255,178 3,388,459 Other taxes 591,016 652,866 733,867 811,619 907,651 1,008,115 1,430,740 1,821,885 1,813,395 1,896,881 Motors Vehicle License Fees 44,112 36,768 35,936 - - - - - - - Investment 919,213 1,255,043 1,191,893 1,882,764 1,560,277 1,691,972 4,286,379 4,483,519 1,403,560 (1,527,446) Community Impact Reimbursement - - - - - - - - - - Miscellaneous 962,356 514,851 825,082 4,225,123 1,702,501 5,426,862 853,797 878,095 769,949 1,444,158 Gain on sale of assets 393,741 16,196 6,902 7,060 3,004 1,020,970 553,670 1,578 1,221,097 - Transfers (72,135) - - 25,000 - 187,921 (476,000) 111,937 - - Charges for Service 13,735,756 14,989,867 16,063,276 16,552,308 16,956,990 18,674,955 19,315,193 17,865,810 15,588,302 18,635,326 Capital grants and contributions 7,216,114 10,009,842 10,516,591 11,421,781 9,456,976 9,394,883 7,998,205 17,774,584 7,878,242 9,859,600 Operating grants and contributions 5,672,929 4,529,539 8,038,949 5,557,620 5,333,955 6,579,225 6,897,906 7,532,791 15,532,050 21,218,809 Total Governmental activities program revenues 93,411,315 100,442,602 111,549,168 126,018,893 122,934,972 134,169,703 134,706,625 144,523,322 149,934,075 169,894,788 Business-type activities: Charges for services 14,813,211 15,635,395 16,878,752 15,991,142 16,858,465 16,368,849 18,052,981 17,162,985 24,818,868 23,848,318 Capital Grants and Contributions - - - - 243,304 369,087 982,215 258,586 3,644,686 66,721 Operating grants and contributions - - - - - - 268,599 472,735 349,804 356,393 Other taxes 360,246 417,231 477,190 520,321 629,411 806,392 836,332 660,893 441,445 602,208 Investment Earnings 209,659 264,904 259,724 425,834 179,432 284,219 1,262,342 1,215,065 160,834 (647,946) Miscellaneous 207,795 250,775 268,689 4,234,130 - - - - - - Gain or loss on sale of assets - - - - - - - - - -
Transfers 72,135 - - (25,000) - (187,921) 476,000 (111,937) - - Total Business activities program revenues 15,663,046 16,568,305 17,884,355 21,146,427 17,910,612 17,640,626 21,878,469 19,658,327 29,415,637 24,225,694 Total primary government program revenues 109,074,361 ` 117,010,907 ` 129,433,523 ` 147,165,320 ` 140,845,584 ` 151,810,329 ` 156,585,094 164,181,649 179,349,712 194,120,482 Extraordinary Items - - - - - - - - - -
Net revenues (expenses): Governmental Activities (9,921,883) (9,332,627) 2,567,973 11,245,780 8,195,038 (4,044,350) (10,112,552) (5,614,452) 5,881,064 17,604,671 Business-type activities 4,147,886 4,562,452 5,264,417 3,369,818 3,187,924 1,162,471 5,917,665 (168,766) 7,075,056 5,032,571 Total net revenues (expenses) (5,773,997) $ (4,770,175) $ 7,832,390 $ 14,615,598 $ 11,382,962 $ (2,881,879) $ (4,194,887) $ (5,783,218) $ 12,956,120 $ 22,637,242 $ Source: City of San Leandro Annual Comprehensive Financial Report (ACFR) - Statement of Activities 158
City of San Leandro
Program Revenues by Function/ ProgramLast Ten Fiscal Years(Accrual Basis of Accounting) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Program / FunctionGovernmental Activities:
General Government 7,436,918 $ 7,310,491 $ 7,887,476 $ 10,326,562 $ 8,550,928 $ 9,381,699 $ 9,786,425 $ 9,660,706 $ 10,206,812 $ 13,635,682 $ Public Safety 4,482,346 3,749,814 3,623,194 3,897,568 3,801,944 4,429,180 3,877,786 3,582,527 3,164,583 2,195,549 Engineering and transportation 6,723,903 9,607,387 8,668,597 10,897,823 10,772,477 11,825,335 11,626,649 20,260,794 15,402,179 22,755,835 Recreation and culture 4,022,452 5,114,524 4,493,916 4,385,376 4,062,763 3,605,783 3,559,591 3,890,762 3,280,434 3,241,826 Community development 3,959,180 3,747,032 9,945,633 4,024,380 4,559,809 5,407,066 5,360,853 5,778,396 6,944,586 7,884,843 Interest on long-term debt - - - - - - - - - -
Subtotal governmental activities 26,624,799 $ 29,529,248 $ 34,618,816 $ 33,531,709 $ 31,747,921 $ 34,649,063 $ 34,211,304 $ 43,173,185 $ 38,998,594 $ 49,713,735 $ Business-Type Activities
Water Pollution Control Plant 11,266,178 $ 11,961,374 $ 12,996,465 $ 12,467,570 $ 13,068,979 $ 12,574,723 $ 15,250,875 $ 14,172,199 $ 20,054,960 $ 16,085,725 $ Shoreline 1,846,750 1,928,280 2,038,388 1,702,955 1,994,642 2,085,975 1,970,376 1,710,740 6,778,655 6,287,707Storm Water Utility 1,086,070 1,072,146 1,070,154 1,093,460 1,084,122 1,056,708 1,068,814 1,073,513 1,071,874 1,084,536 Environmental Services 614,213 673,595 773,745 727,157 954,026 1,020,530 1,013,730 937,854 907,869 813,464 Subtotal business-type activities 14,813,211 $ 15,635,395 $ 16,878,752 $ 15,991,142 $ 17,101,769 $ 16,737,936 $ 19,303,795 $ 17,894,306 $ 28,813,358 $ 24,271,432 $ Total primary government 41,438,010 $ 45,164,643 $ 51,497,568 $ 49,522,851 $ 48,849,690 $ 51,386,999 $ 53,515,099 $ 61,067,491 $ 67,811,952 $ 73,985,167 $ Source: City of San Leandro Annual Comprehensive Financial Report (ACFR) - Statement of Activities 159
City of San Leandro
Fund Balance of Governmental FundsLast Ten Fiscal Years(modified accrual basis of accounting) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
General Fund: Reserved - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ Unreserved - - - - - - - - - -
Nonspendable 10,147,160 10,147,160 13,849,630 14,448,674 12,552,626 11,267,706 10,902,741 7,997,945 7,626,704 7,218,598 Restricted 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 Assigned 264,275 662,973 1,766,700 3,128,977 4,577,831 5,301,907 6,296,907 9,799,641 9,505,953 16,010,475 Unassigned 14,836,844 18,762,223 19,145,226 29,378,795 33,781,436 36,552,684 42,741,116 46,666,766 66,536,219 78,134,921 Total General Fund 25,298,279 $ 29,622,356 $ 34,811,556 $ 47,006,446 $ 50,961,893 $ 53,172,297 $ 59,990,764 $ 64,514,352 $ 83,718,876 $ 101,413,994 $ All other governmental funds: Reserved - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ Unreserved, designated - - - - - - - - - -
Unreserved, undesignated, reported in: Special revenue funds - - - - - - - - - - Capital projects funds - - - - - - - - - -
Nonspendable - - - - - - - - 430,668 -
Restricted 17,417,246 16,083,695 22,590,294 25,002,605 32,364,776 41,104,032 63,726,144 64,472,691 54,358,746 54,062,312 Assigned - - - - - - - - - -
Unassigned (1,646,590) (1,712,654) (1,383,668) (1,322,170) (717,114) - (646,691) - (3,201,383) (2,828,316) Total all other governmental funds 15,770,656 $ 14,371,041 $ 21,206,626 $ 23,680,435 $ 31,647,662 $ 41,104,032 $ 63,079,453 $ 64,472,691 $ 51,588,031 $ 51,233,996 $ Total All Governmental Funds 41,068,935 $ 43,993,397 $ 56,018,182 $ 70,686,881 $ 82,609,555 $ 94,276,329 $ 123,070,217 $ 128,987,043 $ 135,306,907 $ 152,647,990 $ Source: City of San Leandro Annual Comprehensive Financial Report (ACFR) - Governmental Funds Balance Sheet 160
City of San Leandro
General Governmental Revenues By SourceAll Government Fund TypesLast Ten Fiscal Years Fiscal
Year
Property & Other
Taxes
Licenses &
Permits
Fines &
Forfeitures Service Charges
Intergovernmental Use of Money & Property Other Revenue Total 2013 65,125,564 $ 6,482,902 $ 1,237,354 $ 2,830,649 $ 9,233,120 $ 3,445,104 $ 4,011,757 $ 92,366,450 $ 2014 69,453,813 7,700,470 1,302,814 3,492,225 11,640,820 3,582,413 3,215,110 100,387,665 2015 75,226,114 8,041,005 1,524,570 3,489,068 14,476,306 3,332,499 5,266,519 111,356,081 2016 86,735,605 8,594,731 1,685,098 3,099,475 12,191,846 4,023,537 6,587,487 122,917,779 2017 88,391,366 9,348,195 1,572,898 3,543,567 11,078,666 4,117,990 4,882,290 122,934,972 2018 91,648,512 10,726,515 1,688,351 3,790,985 12,843,102 4,145,901 9,138,416 133,981,782 2019 95,596,907 11,429,826 1,675,533 3,592,813 11,964,009 6,878,046 4,045,491 135,182,625 2020 96,089,825 12,249,199 1,495,851 2,399,404 20,552,655 7,972,029 3,652,422 144,411,385 2021 107,772,445 10,062,117 1,338,461 1,426,373 14,601,427 5,277,599 1,075,849 141,554,271 2022 120,465,255 10,801,893 809,767 1,970,713 17,343,374 835,725 2,217,020 154,443,747 Source: City of San Leandro Annual Comprehensive Financial Report (ACFR) - Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances $0
$90,000,000$80,000,000$70,000,000$60,000,000$50,000,000$40,000,000$30,000,000$20,000,000$10,000,000 $130,000,000$120,000,000$110,000,000$100,000,000
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Property & Other Taxes Licenses & Permits Fines & Forfeitures Service Charges Intergovern- mental Use of Money & Property Other Revenue 161
City of San Leandro
Changes in Fund Balance of Governmental FundsLast Ten Fiscal Years 2013 2014 2015 2016 2017 2018 2019 2020 2021
Revenues: Property and other taxes 65,125,564 $ 69,453,813 $ 75,226,114 $ 86,735,605 $ 88,391,366 $ 91,648,512 $ 95,596,907 $ 96,089,825 $ 107,772,445 $ Licenses and permits 6,482,902 7,700,470 8,041,005 8,594,731 9,348,195 10,726,515 11,429,826 12,249,199 10,062,117 Fines and forfeitures 1,237,354 1,302,814 1,524,570 1,685,098 1,572,898 1,688,351 1,675,533 1,495,851 1,338,461 Service charges 2,830,649 3,492,225 3,489,068 3,099,475 3,543,567 3,790,985 3,592,813 2,399,404 1,426,373 Intergovernmental 9,233,120 11,640,820 14,476,306 12,191,846 11,078,666 12,843,102 11,964,009 20,552,655 14,601,427 Use of money and property 3,445,104 3,582,413 3,340,946 4,023,537 4,117,990 4,145,901 6,878,046 7,972,029 5,277,599 Intergovernmental 2,001,928 2,002,139 2,250,266 1,999,878 1,999,878 1,999,878 1,999,878 1,999,878 2,001,068 Other 2,009,829 1,212,971 3,007,806 4,587,609 2,882,412 7,138,538 2,045,613 1,652,544 1,075,849 Total revenues 92,366,450 100,387,665 111,356,081 122,917,779 122,934,972 133,981,782 135,182,625 144,411,385 143,555,339 Expenditures: Current: General government 12,993,178 11,350,118 11,720,994 11,846,864 11,493,208 11,679,072 12,305,756 13,109,392 14,745,469 Public safety 46,437,960 46,983,838 49,441,422 52,258,892 54,732,167 60,034,363 62,392,436 64,708,745 65,649,509 Engineering and transportation 14,550,085 19,310,489 17,905,896 19,185,657 19,487,997 25,648,773 24,132,999 28,781,633 23,906,576 Recreation and culture 10,274,496 10,244,659 10,481,528 12,214,366 11,845,986 11,898,321 11,101,882 10,999,381 10,069,379 Community development 4,311,194 5,138,376 5,708,945 6,480,125 7,700,158 8,244,056 9,132,310 14,699,407 17,767,244 Capital Outlay - - - - - - - - -
Debt service: Principal 1,577,051 2,271,828 2,524,833 2,549,397 18,960,762 3,206,330 3,480,537 3,668,156 3,884,915 Interest and fees 2,605,761 2,163,895 2,299,286 1,963,779 2,196,157 1,744,082 2,207,841 2,417,755 2,256,968 Total expenditures 92,749,725 97,463,203 100,082,904 106,499,080 126,416,435 122,454,997 124,753,761 138,384,469 138,280,060 Excess (deficiency of revenues over (under) expenditures (383,275) 2,924,462 11,273,177 16,418,699 (3,481,463) 11,526,785 10,428,864 6,026,916 5,275,279Other financing Sources (uses): Issuance of capital lease - - - - - - - - - Proceeds from refunding of bonds (9,817,009) - - - - - - - - Payment to refunded bonds escrows agents - - - - - - - - - Transfers in 577,000 776,000 2,604,156 3,877,017 4,193,000 10,345,878 28,198,333 6,425,000 8,427,823 Transfers out (1,606,599) (776,000) (2,604,156) (5,627,017) (10,453,000) (10,205,889) (30,047,660) (6,535,090) (8,604,335) Property Proceeds - - - - - - - - 1,221,097
Bonds Proceeds - - - - - - - - -
Loan Proceeds - - - - - - - - -
Lease Proceeds - - - - - - - - -
Issuance of Debt 10,152,405 - - - 21,664,137 - 20,214,351 - - Total other financing sources (uses) (694,203) - - (1,750,000) 15,404,137 139,989 18,365,024 (110,090) 1,044,585 Prior period restatement - - - - - - - - -
Net change in fund balances (1,077,478) $ 2,924,462 $ 11,273,177 $ 14,668,699 $ 11,922,674 $ 11,666,774 $ 28,793,888 $ 5,916,826 $ 6,319,864 $ Debt Services as a percentage of noncapital expenditures 4.72% 4.77% 5.06% 4.43% 20.10% 4.21% 4.78% 4.60% 4.65% Sources: City of San Leandro Annual Comprehensive Financial Report (ACFR) - Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances City of San Leandro Annual Comprehensive Financial Report (ACFR) - Reconciliation of the Net Change in Fund Balances - Total Government Funds with the Statement of Activities 162
REVENUE CAPACITY
Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years Assessed Value of Taxable Property - Last Ten Fiscal Years Net Assessed Value of Property by Use Code, Citywide - Last Three Fiscal Year Principal Property Tax Payers - Current Year and Nine Years Ago Property Tax Levies and Collections - Last Ten Fiscal Years Historical Sales Tax Amount by Benchmark Year - Last Nine Calendar Years at Quarter 1 (Q1) Principal Sales Tax Producers - Last Fiscal Year and Nine Years Ago Sewer Rates - Last Ten Fiscal Years
Number of Permits and Valuation of Taxable Transactions - Last Ten Calendar Years These schedules contain information to help the reader assess the city's most significant local revenue sources, sales tax and property tax.
163
City of San Leandro
Direct and Overlapping Property Tax Rates(Rate per $1,000 of assessed value)Last Ten Fiscal Years 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Basic City and County Levy City of San Leandro 0.156681 0.156681 0.156681 0.156681 0.156681 0.156681 0.156681 0.156681 0.156681 0.156681 County of Alameda 0.843319 0.843319 0.843319 0.843319 0.843319 0.843319 0.843319 0.843319 0.843319 0.843319Total Basic Levy 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000Override Assessments County GO Bond 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.011200 0.010800 0.003600 0.004100 San Leandro Unified School Bond 0.108500 0.118800 0.131000 0.121500 0.117900 0.140600 0.133500 0.132500 0.177000 0.173200 Chabot-Las Positas College Bond 0.021900 0.021400 0.021700 0.019800 0.024600 0.044500 0.044300 0.042200 0.021400 0.045800 Bay Area Rapid Transit 0.005100 0.007500 0.004500 0.002600 0.008000 0.008400 0.007000 0.012000 0.013900 0.006000 East Bay Regional Park 0.004300 0.007800 0.008500 0.006700 0.003200 0.002100 0.005700 0.006000 0.001400 0.002000Total Override Rate 0.139800 0.155500 0.165700 0.150600 0.153700 0.195600 0.201700 0.203500 0.217300 0.231100Total Tax Rate 1.139800 1.155500 1.165700 1.150600 1.153700 1.195600 1.201700 1.203500 1.217300 1.231100Tax rates have been restated from previous CAFR reportsSources 1) County Auditor/Controller data, Avenu Insights & Analytics2) 2011-12 and prior, previously published CAFR Report Note: TRAs 10-001 is represented for this report.
165
City of San Leandro
Assessed Value of Taxable PropertyLast Ten Fiscal Years(In Thousands) Fiscal Year
Ended June 30
Secured
Property
Unsecured
Property
Less:
Exemptions
Taxable
Assessed
Value
Secured
Property
Unsecured
Property
Less:
Exemptions
Taxable
Assessed Value
Total Tax
Rate (`1)
Taxable Assessed
Value
Estimated
Actual Taxable
Value (2)
Factor of Taxable
Assessed Value (2)
2013 6,015,787 $ 147,948$ 113,086$ 6,050,649 $ 3,570,284 $ 382,532 $ 123,831 $ 3,828,985 $ 1.1398 9,879,634 $ - $ - $ 2014 5,899,077 153,300 183,511 5,868,866 4,365,737 359,508 139,085 4,586,160 1.1555 10,455,026 - - 2015 6,310,548 152,421 196,657 6,266,312 4,694,159 367,800 907,973 4,153,986 1.1657 10,420,298 13,808,666 1.3252 2016 7,795,139 197,971 178,848 7,814,262 3,899,194 371,143 892,306 3,378,031 1.1657 11,192,293 15,938,474 1.4241 2017 8,243,336 235,839 334,516 8,144,659 3,995,308 404,452 851,651 3,548,110 1.1537 11,692,768 20,767,772 1.7761 2018 8,775,315 229,625 319,941 8,684,999 4,195,622 413,077 880,570 3,728,128 1.1956 12,413,128 18,025,239 1.4521 2019 9,283,562 281,710 355,814 9,209,457 4,424,460 473,473 894,212 4,003,721 1.2017 13,213,179 21,102,345 1.5971 2020 9,780,976 301,691 362,978 9,719,689 4,796,146 544,368 956,213 4,384,301 1.2035 14,103,990 20,936,315 1.4844 2021 10,237,915 275,465 367,295 10,146,085 5,026,306 580,363 1,004,807 4,601,862 1.2173 14,747,947 18,755,382 1.27172022 10,671,290 248,354 351,759 10,567,885 5,202,833 536,027 999,971 4,738,889 1.2311 15,306,774 21,274,862 1.3899 Source: County Assessor Data, Avenu Insights & Analytics Source: 2011-12 and prior, previously published ACFR Report Table does not include state unitary value of $3,331,742.
Notes:
(-) Data Unavailable (1.) Total direct tax rate is represented by TRA 10-001(2.) Estimated Actual Value is derived from a series of calculations comparing median assessed values from 1940 to current median sale prices.Based on these calculations a multiplier value was extrapolated and applied to current assessed values.
City (Excl Successor Agency) Successor Agency City Wide 166
City of San Leandro
Net Assessed Value of Property by Use Code, Citywide Last Three Fiscal Years Category FY 2020 FY 2021 FY 2022Residential 9,313,064,010 $ 9,547,285,037 $ 9,964,415,506 $ Industrial 2,342,209,067 2,446,370,564 2,626,276,566 Commercial 1,521,483,820 1,703,634,396 1,743,505,980
Vacant 1,245,366,739 253,274,012 191,456,692Institution 137,623,925 1,076,356,414 1,095,462,065 Professional - 7,266,289 7,758,020
Government 11,223,057 50,635,312 46,808,197Public 872,653 - - Recreation 5,276,745 1,136,936 1,148,710
Unknown 2,454 178,262,772 197,291,505
Net Secured Value 14,577,122,470 15,264,221,732 15,874,123,241 Unsecured 846,059,291 855,827,698 784,380,778Exemptions 1,319,190,336 1,372,102,115 1,351,729,114 Net Assessed Value 14,103,991,425 $ 14,747,947,315 $ 15,306,774,905 $ Source: County Assessor data, Avenu Insights & AnalyticsUse code categories are based on County Assessor's dataSecured Property does not includes state unitary value of $3,331,742. 167
City of San Leandro
Principal Property Tax PayersJune 30, 2022Current Fiscal Year and Nine Years Ago Taxpayer Rank Taxable Value ($)
Percent of
Total City
Taxable
Value (%) Rank Taxable Value ($)
Percent of
Total City
Taxable
Value (%)
AMB Property LP 1 204,756,320 $ 1.34% 2 172,176,636 $ 1.70%Ghirardelli Chocolate Company 2 144,477,739 0.94% 3 163,241,645 1.61%Waste Management Of Alameda Co 3 133,005,006 0.87% 11 47,257,951 0.47%Kaiser Foundation Hospitals 4 112,988,859 0.74% 1 418,470,118 4.13% 100 Halcyon Owner LLC 5 108,471,105 0.71%Colfin 2018 2 Industrial Owner 6 105,642,585 0.69%Safeway Stores Incorporated 7 100,742,143 0.66% 14 36,633,682 0.36% SLTC LLC 8 95,622,728 0.62%
BRE Westgate Property Owner Ll 9 90,015,639 0.59%
BPP Pacific Industrial Ca Reit 10 86,312,830 0.56%
MM PG Bayfair Properties LLC 11 84,462,602 0.55%
BG8 Williams Street LLC 12 71,366,280 0.47%
2000 Marina LLC 13 58,611,135 0.38%Prologis Uslv Newca 7 LLC 14 55,873,071 0.37% Chill Build San Leandro LLC 15 55,847,321 0.36%
Woodchase Owner LLC 16 55,748,803 0.36%
Reyes Coca-Cola Bottling LLC 17 51,315,492 0.34%Creekside Plaza Partners LLC 18 49,369,421 0.32% Lone Oak San Leandro LLC 19 47,302,650 0.31%R. Torre & Company Inc 20 45,975,246 0.30%Gateway Buena Park Inc 21 42,284,460 0.28% 15 36,440,413 0.36% Georgia Pacific Corrugated LLC 22 41,401,087 0.27% 7 75,421,630 0.74% 77 & 85 Estabrook LLC 23 39,409,752 0.26%Leandro Brookshire LLC 24 37,203,216 0.24%Terreno Merced LLC 25 37,100,160 0.24%Standard Lakeside I Lp 4 110,098,160 1.09% BCI Coca Cola Bottling Co Of Los Angeles 5 105,099,694 1.04% Madison Bay Fair LLC 6 77,727,138 0.77%General Foods Corp 8 65,589,864 0.65%Peterson Power Systems Inc 9 57,021,344 0.56%SKB Westgate Investments LLC 10 48,230,278 0.48%Maxwell House Div 12 39,201,221 0.39%Batarse Anthony A Jr Tr 13 37,090,289 0.37% City Of San Leandro 16 30,016,846 0.30%Emerald Properties 17 29,939,527 0.30%World Savings & Loan Association 18 29,160,003 0.29%FPA Woodchase Associates Lp 19 26,066,774 0.26%PLP Partners Lp & Wells Fargo 20 25,875,327 0.26%LBA Riv Co Vi LLC 21 25,500,000 0.25%BRCP San Leandro Industrial Ll 22 23,235,674 0.23%Heritage Associates LLC 23 22,946,524 0.23%Bigge Crane Rigging Company 24 22,641,131 0.22%WRI Greenhouse L P 25 22,008,370 0.22% Total Top 25 Taxpayers 1,955,305,650 12.77% 1,747,090,239 17.23% Total Taxable Value 15,306,774,905 $ 100.00% 10,142,526,676 $ 100.00% Source: County Assessor data, Avenu Insights & Analytics 2022 2013
168
City of San Leandro
Property Tax Levies and CollectionsLast Ten Fiscal Years Fiscal Taxes Levied Collections in
Year Ended for the Percent Subsequent Residual Percent
June 30 Fiscal Year Amount of Levy Years Distribution Amount of Levy 2013 9,959,351 $ 10,142,627 $ 101.84% 287,147 $ 222,507 $ 10,652,282 $ 106.96% 2014 10,732,261 10,338,768 96.33% 177,313 289,806 10,805,887 100.69% 2015 10,630,839 10,250,071 96.42% 158,636 337,278 10,745,985 101.08% 2016 11,326,738 10,897,360 96.21% 191,132 165,626 11,254,119 99.36%2017 11,817,732 11,631,783 98.43% 133,429 1,604,861 13,370,073 113.14% 2018 12,566,402 12,399,772 98.67% 84,584 2,559,564 15,043,920 119.72% 2019 13,300,863 13,135,622 98.76% 168,341 2,457,712 15,761,675 118.50% 2020 14,079,125 13,862,645 98.46% 83,577 3,278,262 17,224,484 122.34% 2021 14,606,893 14,387,162 98.50% 103,506 2,721,627 17,212,295 117.84% 2022 15,159,492 14,909,498 98.35% 74,666 2,886,249 17,870,413 117.88% Source: Alameda County Auditor-Controller's Office
Collected within the
Fiscal Year of Levy Total Collections to Date
169
City of San Leandro
Historical Sales Tax Amount by Benchmark YearLast Nine Fiscal Years at Quarter 1 (Q1)(In Thousands) 2022 Q1 2021 Q1 2020 Q1 2019 Q1 2018 Q1 2017 Q1 2016 Q1 2015 Q1 2014 Q1 2013 Q1 Accommodation and Food Services 2,450,626 $ 1,733,641 $ 2,319,845 $ 2,272,707 $ 2,112,534 $ 1,937,296 $ 1,789,446 $ 1,590,179 $ 1,445,239 $ 1,262,935 $ Agriculture, Forestry, Fishing and Hunting 362,397 295,412 278,543 299,202 226,325 310,445 259,414 312,992 198,971 191,301 Arts, Entertainment, and Recreation 11,048 1,821 7,155 2,973 1,055 1,164 3,906 9,309 8,516 9,185 Construction 2,570,969 2,266,998 2,171,624 1,489,611 1,544,305 1,466,437 1,824,763 1,491,611 1,177,911 1,029,487 Educational Services 405,924 310,394 356,586 409,454 303,901 241,138 237,883 311,128 229,934 237,138 Information 74,450 60,168 76,271 89,923 85,581 84,141 74,144 79,550 55,295 53,108 Manufacturing 1,822,051 1,716,772 1,822,413 1,609,965 1,724,540 3,115,134 3,414,829 2,913,127 1,279,778 1,140,991 Mining, Quarrying, and Oil and Gas Extraction 3,536,783 2,748,481 2,777,029 2,819,323 2,848,579 2,373,067 2,081,103 2,147,576 2,124,750 1,839,292 Other Services (except Public Administration) 266,488 258,101 308,071 280,429 340,700 303,082 323,462 269,204 245,244 210,153 Professional, Scientific, and Technical Services 188,851 190,785 196,234 198,962 190,056 211,126 209,561 166,247 114,730 105,989 Real Estate and Rental and Leasing 276,235 170,535 211,822 290,180 159,564 157,397 211,377 194,121 221,014 211,355 Retail Trade 18,102,538 14,695,056 15,952,168 16,061,649 16,096,452 14,971,916 14,054,637 13,070,441 12,914,180 12,080,062 Utilities 641,896 729,213 870,068 764,956 671,705 630,382 574,049 497,113 480,995 410,610 All Other NAICS Sectors 416,984 445,264 545,345 527,852 376,167 318,773 340,551 371,373 364,948 345,029 TOTAL 31,127,241 $ 25,622,641 $ 27,893,176 $ 27,117,187 $ 26,681,463 $ 26,121,499 $ 25,399,127 $ 23,423,970 $ 20,861,506 $ 19,126,636 $ Source: Avenu Insights & AnalyticsNote:The data contained in this report is economic and therefore constantly changing as adjustments, fund transfers, late filings and audits are recorded.The categories listed in previous reports were based on SBOE NAICS codes and have been updated to reflect current updated CDTFA standards. 170
City of San Leandro
Principal Sales Tax Producers Current Fiscal Year and Nine Years Ago Taxpayer Business Type Taxpayer Business Type
American Emperor Bldg.Matls-Whsle AB Calif Acquisition Bldg.Matls-Retail Arco AM/PM Mini Marts Service Stations CA Superstores Chrysler Jeep Auto Sales - New Beacon Roofing Supply Bldg.Matls-Whsle Chevron Service Stations Service StationsChevron Service Stations Service Stations Costco Wholesale Department StoresConsolidated Electrical Distributors Bldg.Matls-Whsle Cummins West Heavy IndustryCostco Wholesale Department Stores ESD Company Electronic EquipmentEdges Electrical Group Electronic Equipment F H Dailey Chevrolet Auto Sales - NewF H Dailey Chevrolet Auto Sales - New Flyers Service Stations Service Stations Ferguson Enterprises Bldg.Matls-Whsle Home Depot Bldg.Matls-RetailFoundation Building Materials Bldg.Matls-Whsle Macy's Department Store Department StoresHome Depot Bldg.Matls-Retail Marina Square Auto Center Auto Sales - New Independent Electric Supply Bldg.Matls-Whsle Nike Factory Store Apparel StoresLiving Spaces Furniture Furniture/Appliance Nordstrom Rack Apparel Stores Norcal Kenworth Bay Area I.T. Infrastructure Peterson Power Systems Electronic EquipmentPacific Pride Energy Sales Peterson Tractor Company Heavy IndustryPeterson Power Systems Heavy Industry Roofing Supply Group Bldg.Matls-WhslePeterson Tractor Company Heavy Industry Ross Stores Apparel StoresPeterson Trucks Misc. Vehicle Sales Safeway Stores Food MarketsRoss Stores Apparel Stores San Leandro Honda Auto Sales - NewSan Leandro Chrysler Jeep Dodge Ram Auto Sales - New Shell Service Stations Service StationsSan Leandro Honda Auto Sales - New SSMB Pacific Holding Company Auto Parts/Repair San Leandro Hyundai/Kia Auto Sales - New Target Stores Department Stores Target Stores Department Stores The Ford Store Auto Sales - New The Ford Store Auto Sales - New Wal Mart Stores Department StoresWal Mart Stores Department Stores Western States Oil Energy SalesSource: Avenu Insights & Analytics FY 2022 FY 2013
171
City of San Leandro
Sewer RatesLast Ten Fiscal Years
Fiscal Single MultiYear Family Family Institutional
2013 29.98 21.28 3.30 - 6.90 2.712014 32.27 22.90 3.55 - 7.45 2.922015 33.07 23.54 3.65 - 7.66 3.002016 33.17 23.54 3.65 - 7.66 3.002017 34.03 24.15 3.74 - 7.86 3.082018 34.71 24.63 3.81 - 8.02 3.142019 35.75 25.37 3.92 - 8.26 3.232020 37.13 26.35 4.07 - 8.58 3.362021 41.60 29.30 4.36 - 9.75 3.932022 44.90 31.60 4.68 - 10.53 4.31 Notes: Commercial and Institutional charge is based upon the volume of water used.
Source: City of San Leandro Public Works Department and Master Fee Schedule Sewer Non-Residential
Commercial
172
City of San Leandro
Number of Permits and Valuation of Taxable Transactions Last Ten Calendar Years
Retail Stores
Taxable Taxable
Calendar Number Transactions Number Transactions
Year of Permits (in thousands) of Permits (in thousands) 2013 1,304 1,348,729 $ 2,273 $ 2,026,119
2014 1,290 1,378,120 2,258 2,246,508
2015 1,309 1,478,697 2,425 2,483,400
2016 1,362 1,598,459 2,508 2,584,669
2017 1,374 1,662,454 2,513 2,650,938
2018 1,373 1,688,378 2,555 2,665,437
2019 1,379 1,702,666 2,618 2,718,393
2020 1,379 1,580,927 2,618 2,573,889
2021 1,455 1,709,464 2,766 2,784,599
2022 1,426 1,974,334 2,706 3,188,713
Note: Data 2015 and beyond is provided by California Dept. of Tax and Fee Administration Note for 2020: The Number of Permits for Retail Stores and for All Outlets was not available for disclosure at the time of Financial Reporting and the 2019 year amounts were used for the number of permits.
Prior to 2015, data provided by State Board of Equalization (BOE), Taxable Sales in California (Sales and Use Tax).
Total All Outlets
173
DEBT CAPACITY
Direct and Overlapping Debt - As of June 30, 2021
Pledged-Revenue Coverage - Last Ten Fiscal Years
Computation of Legal Debt Margin - Last Ten Fiscal Years Ratios of Outstanding Debt by Type - Last Ten Fiscal Years Ratios of General Bonded Debt Outstanding - Last Ten Fiscal Years These schedules present information to help the reader assess the affordability of the city's current levels of outstanding debt and the city's ability to issue additional debt in the future. 175
Direct and Overlapping Debt
As of June 30, 2022
2021-22 Assessed Valuation $ 15,407,010,447
Total Debt City's Share of
OVERLAPPING TAX AND ASSESSMENT DEBT: 6/30/2022 % Applicable (1) Debt 6/30/22 Alameda County $ 183,745,000 4.445% $ 8,167,465
Bay Area Rapid Transit District 1.732% 43,673,592 2,521,570,000 Chabot-Las Positas Community College District 10.591% 85,320,566 805,595,000 San Leandro Unified School District 91.886% 275,535,295 299,866,459 San Lorenzo Unified School District 21.779% 38,621,790 177,335,000 East Bay Regional Park District 2.765% 5,103,914 184,590,000 City of San Leandro Cherrywood Community Facilities District 100% 1,530,000 1,530,000 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT $ 457,952,622 DIRECT AND OVERLAPPING GENERAL FUND DEBT:
Alameda County General Fund Obligations $ 742,688,000 4.445% $ 33,012,482 Alameda-Contra Costa Transit District Certificates of Participation 11,655,000 5.263% 613,403 San Lorenzo Unified School District Certificates of Participation 8,605,000 21.779% 1,874,083 City of San Leandro General Fund Obligations 37,086,291 100% 37,086,291 City of San Leandro Pension Obligation Bonds 4,570,000 100% 4,570,000 TOTAL DIRECT AND OVERLAPPING GENERAL FUND DEBT $ 77,156,258 OVERLAPPING TAX INCREMENT DEBT (Successor Agencies):
San Leandro Tax Allocation Bonds $ 10,959,000 100% $ 10,959,000 Alameda County – San Leandro Tax Allocation Bonds 17,105,000 55.660% $ 9,520,643 TOTAL OVERLAPPING TAX INCREMENT DEBT $20,479,643
TOTAL DIRECT DEBT $ 41,656,291
TOTAL OVERLAPPING DEBT $ 513,932,232
COMBINED TOTAL DEBT $ 555,588,523 (2)
Ratios to 2021-22 Assessed Valuation:
Total Overlapping Tax and Assessment Debt 2.97%
Total Direct Debt ($41,656,291) 0.27%
Combined Total Debt 3.61%
Ratios to Redevelopment Successor Agency Incremental Valuation ($3,251,626,962):
Total Overlapping Tax Increment Debt 0.63%
City of San Leandro
(1) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's total taxable assessed value.
(2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations. 177
City of San Leandro
Pledged-Revenue CoverageLast Ten Fiscal Years
Special
Fiscal Assessment
Year Collections Principal Interest Coverage
2013 - - - - 2014 - - - -
2015 - - - -
2016 - - - -
2017 - - - -
2018 - - - -
2019 - - - -
2020 - - - -
2021 - - - -
2022 - - - -
Notes: During Fiscal Year 2009-10 and beyond no assessments were necessary due to the availability of funds to pay the debt.Source: City of San Leandro Special Assessment Bonds
Debt Service
178
City of San Leandro
Computation of Legal Debt MarginLast Ten Fiscal Years
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Assessed Valuation:Secured property assessed value 9,349,154,000 $ 9,942,218,000 $ 9,900,077,000 $ 10,623,178,219 $ 11,098,868,606 $ 11,810,249,391 $ 12,457,995,912 $ 13,257,932,134 $ 13,892,119,617 $ 14,522,393,000 $ Addback: Exemptions 236,917,000 322,596,000 1,104,630,000 1,071,154,402 1,139,775,183 1,160,687,336 1,250,026,103 1,319,190,336 1,372,102,115 1,351,730,000 Total Assessed Valuation 9,586,071,000 $ 10,264,814,000 $ 11,004,707,000 $ 11,694,332,621 $ 12,238,643,789 $ 12,970,936,727 $ 13,708,022,015 $ 14,577,122,470 $ 15,264,221,732 $ 15,874,123,000 $ Bonded debt (15% of Assessed Value) 1,437,910,650 $ 1,539,722,100 $ 1,650,706,050 $ 1,754,149,893 $ 1,835,796,568 $ 1,945,640,509 $ 2,056,203,302 $ 2,186,568,371 $ 2,289,633,260 $ 2,381,118,450 $ Total Bonded Debt 980,820 694,992 715,441 42,066,944 42,404,398 37,374,715 37,374,715 50,714,022 46,829,107 42,712,291 Less:
Special assessment bonds - - - - - - - - - -
Lease Revenue Debt (28,340,000) (30,440,000) (26,208,000) (25,198,000) (27,410,045) (20,495,000) (37,904,000) (36,368,000) (34,777,000) (33,126,000) Capital Leases (980,820) (694,992) (715,441) (678,944) (240,353) (5,254,715) (4,941,178) (4,621,022) (4,294,107) (3,960,291) Amount of Debt subject to Limit (28,340,000) (30,440,000) (26,208,000) 16,190,000 14,754,000 11,625,000 (5,470,463) 9,725,000 7,758,000 5,626,000 Legal Debt Margin 1,466,250,650 $ 1,570,162,100 $ 1,676,914,050 $ 1,737,959,893 $ 1,821,042,568 $ 1,934,015,509 $ 2,061,673,765 $ 2,176,843,371 $ 2,281,875,260 $ 2,375,492,450 $ Source: County Assessor Data, Avenu Insights & Analytics Source: County of Alameda office of Auditor-Controller and Statement of Direct and Overlapping Debt 179
City of San Leandro
Ratios of Outstanding Debt by TypeLast Ten Fiscal Years Tax Pension CFDs % of Debt Total % of Debt Total % of Debt Fiscal Year Total of Allocation Obligation and Lease Capital Other Total Personal per Business-Type Personal per Government-Wide Personal per Ended Personal Income Population Bonds Bonds Revenue Debt (1) Leases Debt Governmental Debt Income Capita Debt (2) Income Capita Debt Income Capita 2013 5,159,811,699 $ 85,941 - $ 17,585,000 $ 28,133,000 $ 980,820 $ 2,238,000 $ 48,936,820 $ 0.95% 569.42$ 23,426,651 $ 0.45% 272.59 $ 51,559,651 $ 1.00% 599.94$ 2014 5,310,979,146 86,666 - 16,675,000 27,188,000 694,992 2,107,000 46,664,992 0.88% 538.45 37,914,665 0.71% 437.48 65,102,665 1.23% 751.19 2015 5,545,682,831 89,189 - 15,555,000 26,208,000 715,441 1,976,000 44,454,441 0.80% 498.43 42,092,468 0.76% 471.95 68,300,468 1.23% 765.79 2016 5,524,820,829 88,441 - 14,345,000 25,198,000 678,944 1,845,000 42,066,944 0.76% 475.65 44,179,819 0.80% 499.54 69,377,819 1.26% 784.452017 5,587,279,300 87,700 - 13,040,000 27,410,045 240,353 1,714,000 42,404,398 0.76% 483.52 42,297,582 0.76% 482.30 69,707,627 1.25% 794.842018 5,894,517,000 88,274 - 11,625,000 20,495,000 5,254,715 1,583,000 38,957,715 0.66% 441.33 40,364,096 0.68% 457.26 60,859,096 1.03% 689.432019 6,729,183,000 89,825 - 10,085,000 37,904,000 4,941,178 1,452,000 54,382,178 0.81% 605.42 38,373,780 0.57% 427.21 76,277,780 1.13% 849.18 2020 6,851,117,000 87,930 - 8,405,000 36,368,000 4,621,022 1,320,000 50,714,022 0.74% 576.75 36,327,008 0.53% 413.14 72,695,008 1.06% 826.74 2021 7,341,134,000 87,289 - 6,570,000 37,371,395 4,294,107 1,188,000 49,423,502 0.67% 566.21 41,847,033 0.57% 479.41 79,218,428 1.08% 907.54 2022 8,539,844,000 88,404 - 4,570,000 35,503,128 3,960,291 1,056,000 45,089,419 0.53% 510.04 39,430,492 0.46% 446 74,933,620 0.88% 847.63 Note: (1) CFDs - Community Facility District
(2) Business-type Activity Debt consists of a Marina Loan, a State Water Resources Control Board Loan, and Climatec Lease.Sources: (a) Income Data is provided by the U.S. Census Bureau, 2019 American Community Survey. Income data has been restated from previous years.(b) Population Projections are provided by the California Department of Finance Projections.(c) All other information provided by the City of San Leandro.
Governmental Activities Business-Type Activity Total Government-Wide 180
City of San Leandro
Ratios of General Bonded Debt OutstandingLast Ten Fiscal Years Pension Total % of Debt General Bonded
Fiscal Total of Obligation Capital Other General Personal per Debt to Year Personal Income Population Bonds Leases Debt Bonded Debt Income Capita Taxable Property 2013 5,159,811,699 $ 85,941 17,585,000 $ 980,820 $ - $ 18,565,820 $ 0.35% 214$ 0.194%2014 5,310,979,146 86,666 16,675,000 694,992 - 17,369,992 0.31% 195 0.169% 2015 5,545,682,831 89,189 15,555,000 715,441 - 16,270,441 0.29% 184 0.148% 2016 5,524,820,829 88,441 14,345,000 678,944 - 15,023,944 0.27% 170 0.128% 2017 5,587,279,300 87,700 13,040,000 240,353 - 13,280,353 0.24% 151 0.109% 2018 5,894,517,000 88,274 11,625,000 5,254,715 - 16,879,715 0.29% 191 0.130% 2019 6,729,183,000 89,825 10,085,000 4,941,178 - 15,026,178 0.22% 167 0.110% 2020 6,851,117,000 87,930 8,405,000 4,621,022 - 13,026,022 0.19% 148 0.089% 2021 7,341,134,000 87,289 6,570,000 4,294,107 - 10,864,107 0.15% 124 0.071% 2022 8,539,844,000 88,404 4,570,000 3,960,291 - 8,530,291 0.10% 96 0.054% Sources:
(a) Income Data is provided by the U.S. Census Bureau, 2019 American Community Survey. Income data has been restated from previous years.(b) Population Projections are provided by the California Department of Finance Projections.(c) All other information provided by the City of San Leandro. 181
DEMOGRAPHIC AND ECONOMIC INFORMATION
Demographic and Economic Statistics - Last Ten Fiscal Years Principal Employers - Current Year and Nine Years Ago
These schedules offer demographic and economic indicators to help the reader understand the environment within which the city's financial activities take place. 183
City of San Leandro
Demographic and Economic StatisticsLast Ten Fiscal Years Fiscal Year Population (1)
Personal
Income
( in thousands)
(2)
Per Capita
Personal
Income (2) Median Age
Public School
Enrollment (3)
Median Home
Price
Consumer
Price Index
City
Unemployment
Rate (4)
2013 86,666 5,310,979 $ 61,281 $ 39.1 8,769 400,000 $ 245.935 7.4% 2014 89,189 5,545,683 62,179 39.2 8,668 440,000 253.317 6.3% 2015 88,441 5,524,821 62,469 39.2 8,617 510,000 238.654 4.8% 2016 87,700 5,587,279 63,709 40.5 8,560 529,000 239.810 5.1% 2017 88,274 5,894,517 66,775 40.5 8,638 585,400 244.786 4.6% 2018 87,598 6,221,503 71,023 43.9 8,880 671,200 251.846 3.1% 2019 89,825 6,729,183 74,914 40.8 8,926 647,500 256.161 2.8% 2020 87,930 6,851,117 77,916 40.5 9,067 694,295 259.101 17.7% 2021 87,289 7,341,134 84,101 40.7 8,828 862,445 270.981 10.8% 2022 88,404 8,539,844 96,600 41.1 8,712 949,940 330.539 2.7% Source: Avenu Insights & Analytics, U.S. Census BureauSource: 2013-14 and prior, previous published ACFRNotes:1.) Population Projections are provided by the California Department of Finance Projections.2.) Income Data & CPI is provided by the U.S. Census Bureau. Income data has been restated from previous years. 185
City of San Leandro
Principal Employers
Current Year and Eight Years Ago
Percent of Percent of
Number of Total Number of Total
Employer Employees Rank Employment Employees Rank Employment Kaiser Permanente 3,600 1 7.96%
Alameda Health System* 1,591 2 3.52%
San Leandro USD** 1,271 3 2.81% 1,095 1 3.36%
Walmart (2 locations) 817 4 1.81% 536 2 1.64%
Acco Engineered Systems 698 5 1.54%
Safeway (4 locations) 635 6 1.40%
Ghirardelli Chocolate Factory Outlet 525 7 1.16% 392 4 1.20% Costco Wholesale* 487 8 1.08% 277 8 0.85%
City of San Leandro* 482 9 1.07% 406 3 1.24%
Peterson Cat 459 10 1.02%
OSI Soft, Inc. 310 5 0.95%
BCI Coca-Cola Bottling Co-Service 285 6 0.87%
Target 280 7 0.86%
Paramedics Plus LLC 262 9 0.80%
Kindred Hospital - SF Bay Area 259 10 0.79%
Total Top Employers 10,565 23.37% 4,102 12.56%
Total City Employment (1) 45,200 42,200
Source: Avenu Insights & Analytics
Source: 2012-13, previously published ACFR. Walmart locations are combined to show comparison.
Notes:
*Includes full and part-time
**Includes part-time and substitutes
(1) Total City Labor Force provided by EDD Labor Force Data 2021-22 2012-13
186
OPERATING INFORMATION
Full-Time and Part-Time City Employees by Function - Last Ten Fiscal Years Operating Indicators by Function - Last Ten Fiscal Years Capital Assets by Function - Last Ten Fiscal Years
These schedules contain service and infrastructure data to help the reader understand how the information in the city's financial report relates to the services the city provides and the activities it performs. 187
City of San Leandro
Full-Time and Part-Time City Employees by FunctionLast Ten Fiscal Years Function 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022General Government 50 51 55 50 51 52 52 52 52 50 Police 136 139 139 143 143 140 140 140 140 137Engineering & Transportation 27 27 27 31 30 29 29 29 29 29 Development Services 21 22 22 26 25 29 27 27 27 27
Public Works Services 102 101 102 102 104 110 109 109 109 108Other Agencies 0000000000Library 33 33 33 34 34 36 36 36 36 36 Recreation & Human Services 37 39 39 39 39 41 41 41 41 43 Total 406 412 417 425 426 437 434 434 434 430
Notes:Numbers represent Full-Time equivalents. Fire Services contracted with the Alameda County Fire Department.Source: City of San Leandro Adopted Budget 189
City of San Leandro
Operating Indicators by FunctionLast Ten Fiscal years
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Police Department:
Arrests 3,279 3,036 2,148 2,789 2,799 2,513 2,151 1,968 1,196 1,203 Building Department:
Permits Issued 2,564 2,624 1,961 2,891 2,762 4,080 2,275 2,065 2,575 2,224 Engineering and Transportation:
Street reconstruction (miles) - 1.35 0.26 0.74 2.24 1.42 1.77 1.25 1.69 3.70 Street resurfacing (miles) - 17.94 5.39 4.12 5.21 4.69 7.33 0.67 - 15.00 Parks and Recreation:
Number of registrants 21,324 18,914 17,737 17,114 16,742 14,703 14,261 9,748 5,179 7,607 Number of facility rentals 1,999 2,656 3,830 2,439 2,222 2,465 2,373 1,209 220 1,235 Golf Course:
Golf rounds played 95,995 96,450 102,534 99,185 98,987 105,043 100,409 97,803 163,279 129,701Notes:
Fire Services are contracted with the Alameda County Fire Department. Building Department: Methodology changed in 2015 from issuing permits for each discipline to one consolidated permit per project.Source: City of San Leandro Recreation Department, Police Department, Public Works, and Building Regulations. 190
City of San Leandro
Capital Asset Statistics by FunctionLast Ten Fiscal Years 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Police:
Stations 1 1 1 1 1 1 1 1 1 1
Fire:
Fire Stations 5 5 5 5 5 5 5 5 5 5
Park and Recreation:
Parks 16 16 16 16 16 16 16 16 16 16
Community Center 2 2 2 2 2 2 2 2 2 2 Engineering and Transportation:
Streets (miles) 175 175 175 175 175 175 175 175 174 174 Streetlights 5,500 5,500 5,500 5,500 5,500 6,000 6,000 6,000 6,000 6,000 Traffic signals 755 755 755 755 755 1,254 1,254 1,254 1,254 1,254Wastewater:
Sanitary Sewer Lines (miles) 130 130 130 128 128 128 128 128 128 128 Storm Drainage Lines In the City (miles) 175 175 175 180 180 180 180 180 180 180 Golf Course:
Courses 2 2 2 2 2 2 2 2 2 2 Sources: City of San Leandro: Public Works Department, Engineering & Transportation Department, Recreation Department 191