San Mateo City Council
February 18, 2025

Transfers out (49,860) (49,860) (1,046,931) (997,071) Total other financing (uses) (49,860) (49,860) (1,046,931) (997,071) NET CHANGES IN FUND BALANCE 2,487,622$ 2,487,622$ (259,284) (2,746,906)$ FUND BALANCE:

Beginning of year 315,704
End of year 56,420$
City of San Mateo
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Traffic Impact Fee Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
161

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Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Investment income 125,000$ 125,000$ 164,327$ 39,327$ Total revenues 125,000 125,000 164,327 39,327 EXPENDITURES:

Current:

Non-departmental 5,085 5,085 5,085 - Total expenditures 5,085 5,085 5,085 - NET CHANGES IN FUND BALANCE 119,915$ 119,915$ 159,242 39,327$ FUND BALANCE:

Beginning of year 3,245,851
End of year 3,405,093$
City of San Mateo
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Commercial Linkage Fee Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
162

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Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Licenses, building and other permits 7,185,100$ 7,185,100$ 7,248,749$ 63,649$ Intergovernmental - - 38,100 38,100 Charges for services 1,156,000 1,156,000 2,746,219 1,590,219 Investment income 479,000 479,000 1,608,951 1,129,951 Other revenues - - 55 55 Total revenues 8,820,100 8,820,100 11,642,074 2,821,974 EXPENDITURES:

Current:

General government:

City Manager 112,698 112,698 115,164 (2,466) City Attorney 193,156 193,156 229,587 (36,431) Information technology 118,258 118,258 123,895 (5,637) Community development 10,973,556 10,973,556 9,946,353 1,027,203 Public works 1,061,401 1,061,401 1,094,733 (33,332) Capital outlay - - 25,855 (25,855) Total expenditures 12,459,069 12,459,069 11,535,587 923,482

REVENUES OVER
(UNDER) EXPENDITURES (3,638,969) (3,638,969) 106,487 1,898,492 OTHER FINANCING (USES):

Transfers out (5,525,933) (5,525,933) (5,800,330) (274,397) Total other financing (uses) (5,525,933) (5,525,933) (5,800,330) (274,397) NET CHANGES IN FUND BALANCE (9,164,902)$ (9,164,902)$ (5,693,843) 1,624,095$ FUND BALANCE:

Beginning of year 32,627,760
End of year 26,933,917$
City of San Mateo
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Construction Services Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
163

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Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Investment income 55,000$ 55,000$ 210,231$ 155,231$ Assessments and garbage collection 600,000 600,000 450,000 (150,000) Total revenues 655,000 655,000 660,231 5,231 EXPENDITURES:

Current:

Public works 96,586 96,586 88,049 8,537 Total expenditures 96,586 96,586 88,049 8,537

REVENUES OVER
(UNDER) EXPENDITURES 558,414 558,414 572,182 (3,306) OTHER FINANCING SOURCES (USES):

Transfers out - - (35,947) (35,947) Total other financing sources (uses) - - (35,947) (35,947) NET CHANGES IN FUND BALANCE 558,414$ 558,414$ 536,235 (22,179)$ FUND BALANCE:

Beginning of year 3,953,767
End of year 4,490,002$
City of San Mateo
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Landfill Bonds Debt Service Fund
For the Year Ended June 30, 2024
Budgeted Amounts
164

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Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Property taxes 2,049,050$ 2,049,050$ 2,724,717$ 675,667$ Investment income 99,000 99,000 314,808 215,808 Total revenues 2,148,050 2,148,050 3,039,525 891,475 EXPENDITURES:

Current:

Non-departmental 121,477 121,477 122,851 (1,374) Debt service:

Principal 2,485,000 2,485,000 2,485,000 - Interest and fiscal charges 2,193,200 2,193,200 2,193,200 - Total expenditures 4,799,677 4,799,677 4,801,051 (1,374)

REVENUES OVER
(UNDER) EXPENDITURES (2,651,627) (2,651,627) (1,761,526) 890,101 OTHER FINANCING SOURCES:

Transfers in 2,691,887 2,691,887 2,691,887 - Total other financing sources 2,691,887 2,691,887 2,691,887 - NET CHANGES IN FUND BALANCE 40,260$ 40,260$ 930,361 890,101$ FUND BALANCE:

Beginning of year 6,661,454
End of year 7,591,815$
City of San Mateo
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual General Obligation Bonds Debt Service Fund
For the Year Ended June 30, 2024
Budgeted Amounts
165

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Variance with
Final Budget
Actual Favorable/
Original Final Amounts (Unfavorable)
REVENUES:

Other taxes 1,000,000$ 1,000,000$ 887,679$ (112,321)$ Investment income - - 13,554 13,554 Total revenues 1,000,000 1,000,000 901,233 (98,767) EXPENDITURES:

Current:

Non-departmental 138,889 138,889 144,933 (6,044) Debt service:

Principal 510,000 510,000 510,000 - Interest and fiscal charges 328,000 328,000 326,307 1,693 Total expenditures 976,889 976,889 981,240 (4,351) NET CHANGES IN FUND BALANCE 23,111$ 23,111$ (80,007) (103,118)$ FUND BALANCE:

Beginning of year 258,912
End of year 178,905$
City of San Mateo
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual 2% Hotel Tax Capital Projects Fund
For the Year Ended June 30, 2024
Budgeted Amounts
166

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Internal Service Funds
Workers' Compensation Insurance Fund accounts for all workers' compensation self-insurance activities.

Dental Self-Insurance Fund accounts for the City's self-insurance activities related to the dental plan the City provides to its employees.

Benefits Fund accounts for charges to other funds and expenditures relating to employee benefits other than those accounted for in the Worker Compensation and Dental Self-Insurance Funds.

Comprehensive Liability Insurance Fund accounts for the general liability self-insurance transactions.

Vehicle and Equipment Replacement Fund accounts for rental charges to City departments and the replacement of vehicles and equipment.

Fleet and Building Maintenance Fund accounts for the charges to user departments and the expenses relating to the maintenance of City vehicles and buildings.
167

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Workers' Comprehensive
Compensation Dental Liability
Insurance Self-Insurance Benefits Insurance
ASSETS
Current assets:

Cash and investments 21,130,235$ 839,569$ 486,131$ 1,872,569$ Accounts receivable, net - - 723,787 - Prepaid items, inventory, and deposits 395,000 147,000 - 30,000 Total current assets 21,525,235 986,569 1,209,918 1,902,569 Noncurrent assets:

Capital assets:

Depreciable, net - - - - Total capital assets - - - - Total noncurrent assets - - - - Total assets 21,525,235 986,569 1,209,918 1,902,569

LIABILITIES
Current liabilities:

Accounts payable 72,609 51,371 12,568 285,996 Deposits payable - - 113,014 - Claims payable - due within one year 2,743,000 - - 1,301,000 Total current liabilities 2,815,609 51,371 125,582 1,586,996 Noncurrent liabilities:

Claims payable - due in more than one year 11,115,000 - - 2,739,000 Total noncurrent liabilities 11,115,000 - - 2,739,000 Total liabilities 13,930,609 51,371 125,582 4,325,996

NET POSITION
Net investment in capital assets - - - - Unrestricted (deficit) 7,594,626 935,198 1,084,336 (2,423,427) Total net position 7,594,626$ 935,198 $ 1,084,336 $ (2,423,427) $ City of San Mateo
Combining Statement of Net Position
All Internal Service Funds
June 30, 2024
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Vehicle and Fleet and
Equipment Building
Replacement Maintenance Total
ASSETS
Current assets:

Cash and investments 11,178,759 $ 434,887 $ 35,942,150 $ Accounts receivable, net - - 723,787 Prepaid items, inventory, and deposits - 32,174 604,174 Total current assets 11,178,759 467,061 37,270,111 Noncurrent assets:

Capital assets:

Depreciable, net 7,046,991 70,655 7,117,646 Total capital assets 7,046,991 70,655 7,117,646 Total noncurrent assets 7,046,991 70,655 7,117,646 Total assets 18,225,750 537,716 44,387,757

LIABILITIES
Current liabilities:

Accounts payable 99,490 342,040 864,074 Deposits payable - - 113,014 Claims payable - due within one year - - 4,044,000 Total current liabilities 99,490 342,040 5,021,088 Noncurrent liabilities:

Claims payable - due in more than one year - - 13,854,000 Total noncurrent liabilities - - 13,854,000 Total liabilities 99,490 342,040 18,875,088

NET POSITION
Net investment in capital assets 7,046,991 70,655 7,117,646 Unrestricted (deficit) 11,079,269 125,021 18,395,023 Total net position 18,126,260$ 195,676$ 25,512,669$ City of San Mateo
Combining Statement of Net Position (Continued)
All Internal Service Funds
June 30, 2024
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Workers' Comprehensive
Compensation Dental Liability
Insurance Self-Insurance Benefits Insurance
OPERATING REVENUES:

Charges for services 4,383,314$ 752,013$ 44,516,220$ 2,793,000$ Other - - - 10,571,570 Total operating revenues 4,383,314 752,013 44,516,220 13,364,570 OPERATING EXPENSES:

Personnel services 402,930 - 43,874,661 149,250 Materials and supplies 3,755,628 815,539 111,499 4,652,903 Depreciation and amortization - - - - Total operating expenses 4,158,558 815,539 43,986,160 4,802,153 OPERATING INCOME (LOSS) 224,756 (63,526) 530,060 8,562,417 NONOPERATING REVENUES (EXPENSES):

Investment income 979,227 - - 71,605 Gain on sale of capital assets - - - - Total nonoperating revenues (expenses) 979,227 - - 71,605 INCOME (LOSS) BEFORE TRANSFERS 1,203,983 (63,526) 530,060 8,634,022 TRANSFERS:

Transfers in - - - 1,000,000 Transfers out - - - - Total transfers - - - 1,000,000 Changes in net position 1,203,983 (63,526) 530,060 9,634,022 NET POSITION:

Beginning of year 6,390,643 998,724 554,276 (12,057,449) End of year 7,594,626$ 935,198$ 1,084,336$ (2,423,427)$ City of San Mateo
Combining Statement of Revenues, Expenses, and Changes in Net Position All Internal Service Funds
For the Year Ended June 30, 2024
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Vehicle & Fleet &
Equipment Building
Replacement Maintenance Total
OPERATING REVENUES:

Charges for services 1,897,309$ 5,411,666$ 59,753,522$ Other 2,112 6,090 10,579,772 Total operating revenues 1,899,421 5,417,756 70,333,294 OPERATING EXPENSES:

Personnel services - 1,697,768 46,124,609 Materials and supplies 1,444,599 4,358,304 15,138,472 Depreciation and amortization 1,266,565 4,486 1,271,051 Total operating expenses 2,711,164 6,060,558 62,534,132 OPERATING INCOME (LOSS) (811,743) (642,802) 7,799,162 NONOPERATING REVENUES (EXPENSES):

Investment income 597,750 - 1,648,582 Gain on sale of capital assets 74,946 - 74,946 Total nonoperating revenues (expenses) 672,696 - 1,723,528 INCOME (LOSS) BEFORE TRANSFERS (139,047) (642,802) 9,522,690 TRANSFERS:

Transfers in 410,000 - 1,410,000 Transfers out (913,548) - (913,548) Total transfers (503,548) - 496,452 Changes in net position (642,595) (642,802) 10,019,142 NET POSITION:

Beginning of year 18,768,855 838,478 15,493,527 End of year 18,126,260$ 195,676$ 25,512,669$ City of San Mateo
Combining Statement of Revenues, Expenses, and Changes in Net Position (Continued) All Internal Service Funds
For the Year Ended June 30, 2024
171

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Workers' Comprehensive
Compensation Dental Liability
Insurance Self-Insurance Benefits Insurance
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers 4,383,314$ 752,013$ 44,520,910$ 2,793,000$ Cash payments to suppliers for goods and services (1,949,815) (766,234) 39,249 (15,110,533) Cash payments to employees for services (402,930) - (43,986,160) (149,250) Cash received from others - - - 10,571,570 Net cash provided by (used in) operating activities 2,030,569 (14,221) 573,999 (1,895,213)

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Interfund borrowing (lending) 87,868 - - - Repayment of interfund borrowing (lending) - - (87,868) - Transfers in - - - 1,000,000 Transfers out - - - - Net cash provided by (used in)
noncapital financing activities 87,868 - (87,868) 1,000,000

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Proceeds from sale of capital assets - - - - Acquisition of capital assets, net - - - - Net cash (used in) capital and
related financing activities - - - - CASH FLOWS FROM INVESTING ACTIVITIES:

Investment income received 979,227 - - 71,605 Net cash (used in) investing activities 979,227 - - 71,605 Net change in cash and cash equivalents 3,097,664 (14,221) 486,131 (823,608) CASH AND CASH EQUIVALENTS:

Beginning of year 18,032,571 853,790 - 2,696,177 End of year 21,130,235$ 839,569$ 486,131$ 1,872,569$ (Continued)
City of San Mateo
Combining Statement of Cash Flows
All Internal Service Funds
For the Year Ended June 30, 2024
172

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Workers' Comprehensive
Compensation Dental Liability
Insurance Self-Insurance Benefits Insurance

RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:

Operating income (loss) 224,756$ (63,526)$ 530,060$ 8,562,417$ Adjustments to reconcile operating income (loss) to net cash provided by (used in) operating activities:

Depreciation - - - - Changes in operating assets and liabilities, and
deferred outflows and inflows of resources:

Accounts receivable, net - - 4,690 - Accounts payable 47,813 49,305 (8,651) 112,370 Deposits payable - - 47,900 - Claims payable 1,758,000 - - (10,570,000) Total adjustments 1,805,813 49,305 43,939 (10,457,630) Net cash provided by (used in) operating activities 2,030,569$ (14,221)$ 573,999$ (1,895,213)$ (Continued)
All Internal Service Funds
For the Year Ended June 30, 2024
City of San Mateo
Combining Statement of Cash Flows (Continued)
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Vehicle & Fleet &
Equipment Building
Replacement Maintenance Total
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers 1,897,309 $ 5,413,226 $ 59,759,772 $ Cash payments to suppliers for goods and services (1,685,361) (4,282,707) (23,755,401) Cash payments to employees for services - (1,697,768) (46,236,108) Cash received from others 2,112 6,090 10,579,772 Net cash provided by (used in) operating activities 214,060 (561,159) 348,035

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Interfund borrowing (lending) - - 87,868 Repayment of interfund borrowing (lending) - - (87,868) Transfers in 410,000 - 1,410,000 Transfers out (913,548) - (913,548) Net cash provided by
noncapital financing activities (503,548) - 496,452

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Proceeds from sale of capital assets 95,291 - 95,291 Acquisition of capital assets, net (2,219,724) (27,765) (2,247,489) Net cash (used in) capital and
related financing activities (2,124,433) (27,765) (2,152,198) CASH FLOWS FROM INVESTING ACTIVITIES:

Investment income received 597,750 - 1,648,582 Net cash (used in) investing activities 597,750 - 1,648,582 Net change in cash and cash equivalents (1,816,171) (588,924) 340,871 CASH AND CASH EQUIVALENTS:

Beginning of year 12,994,930 1,023,811 35,601,279 End of year 11,178,759$ 434,887 $ 35,942,150 $

(Continued)
City of San Mateo
Combining Statement of Cash Flows (Continued)
All Internal Service Funds
For the Year Ended June 30, 2024
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Vehicle & Fleet &
Equipment Building
Replacement Maintenance Total

RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:

Operating income (loss) (811,743) $ (642,802) $ 7,799,162 $ Adjustments to reconcile operating income (loss) to net cash provided by (used in) operating activities:

Depreciation 1,266,565 4,486 1,271,051 Changes in operating assets and liabilities, and
deferred outflows and inflows of resources:

Accounts receivable, net - 1,560 6,250 Accounts payable (240,762) 75,597 35,672 Deposits payable - - 47,900 Claims payable - - (8,812,000) Total adjustments 1,025,803 81,643 (7,451,127) Net cash provided by (used in) operating activities 214,060$ (561,159) $ 348,035 $ (Concluded)
Combining Statement of Cash Flows (Continued)
All Internal Service Funds
For the Year Ended June 30, 2024
City of San Mateo
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Fiduciary Funds - Custodial Funds
San Mateo Consolidated Fire Department Custodial Fund, accounts for assets that the City is holding for the San Mateo Consolidated Fire Department.

CFD 2008-1 Custodial Fund , accounts for assets that the City is holding for the Community Facilities District No. 2008- 01 for which the City is acting as an agent.

Other Custodial Fund , accounts for assets that the City is holding for other entities for which the City is acting as an agent.
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San Mateo
Consolidated
Fire Department CFD 2008-1 Other Total
ASSETS
Cash and investments 71,087 $ 3,391,597 $ 76,028 $ 3,538,712 $ Restricted cash and investments - 3,579,205 - 3,579,205 Total assets 71,087 6,970,802 76,028 7,117,917

LIABILITIES
Accounts payable 71,087 - 76,028 147,115 Total liabilities 71,087 - 76,028 147,115

NET POSITION
Restricted for:

Individuals, organizations, and other governments - 6,970,802 - 6,970,802 Total Net Position -$ 6,970,802$ - $ 6,970,802$ City of San Mateo
Combining Statement of Fiduciary Net Position
Fiduciary Funds - Custodial Funds
June 30, 2024
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San Mateo
Consolidated
Fire Department CFD 2008-1 Other Total
ADDITIONS:

Fee collections for other governments 254,597 $ - $ 165,537$ 420,134 $ Special Assessments for other governments - 4,940,334 - 4,940,334 Investment income - 181,313 - 181,313 Total additions 254,597 5,121,647 165,537 5,541,781 DEDUCTIONS:

Administration - 16,750 57,607 74,357 Payments on conduit bonds - interest - 3,724,713 - 3,724,713 Payments on conduit bonds - principal 254,597 995,000 107,930 1,357,527 Total deduction
s 254,597 4,736,463 165,537 5,156,597 Changes in net position - 385,184 - 385,184 NET POSITION:

Beginning of yea
r - 6,585,618 - 6,585,618 End of year -$ 6,970,802$ - $ 6,970,802$ City of San Mateo
Combining Statement of Changes in Fiduciary Net Position Fiduciary Funds - Custodial Funds
For the Year Ended June 30, 2024
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Fiduciary Funds - Private Purpose Trust Funds
RDA Obligation Retirement Fund (RORF) , established in accordance with AB 1X 26, accounts for Redevelopment Property Tax Trust Fund amounts received after January 31, 2012 to pay for Recognized Obligation Payment Schedule (ROPS) items.

Successor Agency to RDA Merged Area Fund , a sub-fund of the RORF, accounts for assets and liabilities of the former RDA merged project area which were transferred to the Successor Agency upon RDA dissolution to be used for ROPS payments or redistributed to taxing entities.

Successor Agency to RDA Housing Fund , a sub-fun d of the RORF, accounts for assets an d liabilities of the forme r RDA housing set aside transferred to the Successor Agency upon RDA dissolution to be used for ROPS payments or redistributed to taxing entities.
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RDA Successor Agenc y Successor Agency
Retirement to RDA Merged to RDA
Obligation Are a Housing Total
ASSETS
Cash and investments 5,175,557 $ - $ - $ 5,175,557$ Restricted cash and investments - 1 - 1 Total assets 5,175,557 1 - 5,175,558

DEFERRED OUTFLOWS

OF RESOURCES
Deferred loss on refunding - 113,013 - 113,013 Total deferred outflows of resources - 113,013 - 113,013

LIABILITIES
Accounts payable - 3,188 - 3,188 Interest payable - 710,209 - 710,209 Long-term debt - due within one year - 4,270,000 - 4,270,000 Long-term debt - due in more than one year - 33,100,992 - 33,100,992 Total liabilities - 38,084,389 - 38,084,389

NET POSITION
Held in trust for dissolution of RDA 5,175,557 (37,971,375) - (32,795,818) Total Net Position (deficit) 5,175,557$ (37,971,375)$ -$ (32,795,818)$ City of San Mateo
Combining Statement of Fiduciary Net Position
Fiduciary Funds - Private Purpose Trust Funds
June 30, 2024
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RDA Successor Agenc y Successor Agency
Retirement to RDA Merged to RDA
Obligation Are a Housing Total
ADDITIONS:

Investment income 1,084 $ - $ - $ 1,084$ RDA property tax trust fund distribution 99,450 5,885,050 10,000 5,994,500 Total additions 100,534 5,885,050 10,000 5,995,584 DEDUCTIONS:

Administration - 13,188 10,000 23,188 Interest expense - 1,252,679 - 1,252,679 Total deduction
s - 1,265,867 10,000 1,275,867 Changes in net position 100,534 4,619,183 - 4,719,717 NET POSITION:

Beginning of yea
r 5,075,023 (42,590,558) - (37,515,535) End of year 5,175,557$ (37,971,375) $ - $ (32,795,818)$ City of San Mateo
Combining Statement of Changes in Fiduciary Net Position Fiduciary Funds - Private Purpose Trust Funds
For the Year Ended June 30, 2024
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Schedules of Assessments and Investment Fees and Related Expenditures South Bayfront Levee Improvement Project accounts for the revenues and expenditures of assessments imposed to finance the South Bayfront Levee Improvement Project.

South Trunk Sewer Impact Fee accounts for revenue an d expenditures related to the developmen t impact fee for the South Trunk area sewer improvements. The fee is imposed on all development and redevelopment served by the South Trunk line.

Child Care Development Impact Fee accounts for revenues and expenditures related to the child care development fee to fund child care facilities necessitated by commercial development.

Tree Impact Fee accounts for revenues and expenditures related to the tree replacement fee established on all development requiring approval of planning application, except for single-family dwelling design review applications, for the removal of existing trees on development sites.

Cable Television Impact Fee accounts for revenues and expenditures related to the cable television impact fee to fund public access community television.
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South
Bayfront Total
Levee South Child Care Cable Assessment s
Improvement Trunk Sewer Development Tree Televisio n and Impact Project Impact Fee Impact Fee Impact Fee Impact Fee Fees REVENUES:

Assessments 537,912$ - $ - $ - $ - $ 537,912$ Impact fees - 771,455 9,548 201,997 91,216 1,074,216 Interest income - 38,699 71,251 7,426 40,413 157,789 Total revenues 537,912 810,154 80,799 209,423 131,629 1,769,917 EXPENDITURES:

Capital outlay 7,733 - 430,000 171,986 36,850 646,569 Debt service 385,754 - - - - 385,754 Total ex
penditures 393,487 - 430,000 171,986 36,850 1,032,323 UNEXPENDED BALANCES:

Beginning of yea
r 2,300,064 55,469 2,211,422 1,094,906 1,257,627 6,919,488 End of year 2,444,489$ 865,623 $ 1,862,221 $ 1,132,343 $ 1,352,406 $ 7,657,082 $ City of San Mateo
General Capital Projects Fund
Schedule of Assessments and Impact Fees and Related Expenditures For the Year Ended June 30, 2024
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STATISTICAL SECTION
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Contents Page
Financial Trends 192
These schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time.

Revenue Capacity 204
These schedules contain information to help the reader assess the City's most significant local revenues source: property tax
Debt Capacity 210
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.

Demographic and Economic Information 215
These schedules offer demographic and economic indicators to help the reader understand the environment within which the city's financial activities take place.

Operating Information 216
These schedules contain service and infrastructure data to help the reader to understand how the information in the City's financial reports relates to the services the city provides and the activities it performs.

This part of the City of San Mateo's Annual Comprehensive Financial Reports 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 condition.

STATISTICAL SECTION (Unaudited)
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2015 2016 2017 2018 2019
Governmental Activities
Net investment in capital assets 338,597,493$ 348,551,145$ 361,295,211$ 373,263,037$ 374,808,638$ Restricted 35,940,430 42,628,946 43,004,559 56,180,410 56,993,128 Unrestricted (deficit) (56,568,094) (25,485,083) (16,647,454) (27,694,719) (16,582,840) Total Governmental Activities Net Position 317,969,829$ 365,695,008$ 387,652,316$ 401,748,728$ 415,218,926$ Business-Type Activities
Net investment in capital assets 78,438,576$ 83,893,024$ 112,410,305$ 136,901,535$ 137,297,898$ Restricted 11,056,422 9,457,948 17,976,147 3,019,163 1,127,518 Unrestricted (deficit) 10,218,009 20,791,916 (7,096,918) (2,674,687) 24,223,141 Total Business-Type Activities Net Position 99,713,007$ 114,142,888$ 123,289,534$ 137,246,011$ 162,648,557$ Primary Government
Net investment in capital assets 417,036,069$ 432,444,169$ 473,705,516$ 510,164,572$ 512,106,536$ Restricted 46,996,852 52,086,894 60,980,706 59,199,573 58,120,646 Unrestricted (deficit) (46,350,085) (4,693,167) (23,744,372) (30,369,406) 7,640,301 Total Primary Government Net Position 417,682,836$ 479,837,896$ 510,941,850$ 538,994,739$ 577,867,483$ Notes:
(1) Significant variance in restricted and unrestricted net position was due to implementation of GASB 65, 68 and 71 in FY2015 (2) Unrestricted net position included adjustment to reflect implementation of GASB 75 in FY2018 Source: City of San Mateo Annual Comprehensive Financial Reports

FISCAL YEAR
City of San Mateo
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
(2)(1)
192

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2020 2021 2022 2023 2024
Governmental Activities
Net investment in capital assets 380,800,232$ 392,070,528$ 397,780,546$ 399,733,773$ 412,852,193$ Restricted 58,615,106 38,577,326 45,323,758 108,343,099 111,215,112 Unrestricted (deficit) (22,039,326) (11,392,141) 6,233,558 (56,670,151) (53,862,081) Total Governmental Activities Net Position 417,376,012$ 419,255,713$ 449,337,862$ 451,406,721$ 470,205,224$ Business-Type Activities
Net investment in capital assets 154,095,718$ 168,133,572$ 135,235,423$ 79,620,512$ 154,003,672$ Restricted 1,143,604 1,143,852 33,375,069 92,240,461 51,978,422 Unrestricted (deficit) 39,117,768 58,834,359 109,975,918 164,051,166 184,575,261 Total Business-Type Activities Net Position 194,357,090$ 228,111,783$ 278,586,410$ 335,912,139$ 390,557,355$ Primary Government
Net investment in capital assets 534,895,950$ 560,204,100$ 533,015,969$ 479,354,285$ 566,855,865$ Restricted 59,758,710 39,721,178 78,698,827 200,583,560 163,193,534 Unrestricted (deficit) 17,078,442 47,442,218 116,209,476 107,381,015 130,713,180 Total Primary Government Net Position 611,733,102$ 647,367,496$ 727,924,272$ 787,318,860$ 860,762,579$ Notes:
(1) Unrestricted net position included adjustment to reflect implementation of GASB 96 in FY2023 (2) Unrestricted net position included adjustment to reflect implementation of GASB 75 in FY2018 Source: City of San Mateo Annual Comprehensive Financial Reports

FISCAL YEAR
City of San Mateo
Net Position by Component (Continued)
Last Ten Fiscal Years
(accrual basis of accounting)
(1)
193

302 of 356

2015 2016 2017 2018 2019
Expenses
Governmental activities:

General government 13,531,819$ 13,408,222$ 15,288,834$ 16,253,149$ 22,520,951$ Community development 11,520,058 8,615,056 9,218,215 8,968,176 10,689,333 Public safety 54,499,943 56,518,491 66,098,015 78,040,802 72,388,649 Public works 17,572,481 19,194,348 19,454,397 22,900,784 25,294,822 Parks and recreation 14,604,719 14,715,076 17,688,663 17,723,370 18,589,445 Golf - - - - 2,413,326 Library 7,456,042 7,481,649 8,640,943 8,409,588 9,088,444 Interest and fiscal charges 1,687,938 1,563,149 1,603,120 1,282,632 1,545,181 Total governmental activities expenses 120,873,000 121,495,991 137,992,187 153,578,501 162,530,151 Business-type activities:

Sewer 25,394,787 29,446,279 27,650,895 28,541,139 30,979,524 Golf 2,599,156 2,925,638 2,699,895 3,119,828 - Total business-type activities expenses 27,993,943 32,371,917 30,350,790 31,660,967 30,979,524 Total primary government expenses 148,866,943$ 153,867,908$ 168,342,977$ 185,239,468$ 193,509,675$ Program Revenues
Governmental activities:

Charges for Services:

General government 7,746,426$ 8,864,516$ 4,460,496$ 4,761,038$ 4,850,552$ Community development 11,841,340 13,040,363 15,504,626 18,647,276 11,962,685 Public safety 4,748,609 4,963,005 5,460,041 5,859,462 4,873,368 Public works 3,380,143 3,204,712 7,078,959 8,816,371 7,908,636 Parks and recreation 3,917,392 4,026,981 5,733,587 4,416,286 4,427,073
Golf - - - - 2,169,365 Library 366,424 376,099 384,442 425,676 418,247 Operating Grants and Contributions 4,659,218 4,920,003 4,855,791 6,527,822 7,091,483 Capital Grants and Contributions 5,932,115 17,519,113 7,404,767 12,254,621 11,235,278 Total governmental activities program revenues 42,591,667 56,914,792 50,882,709 61,708,552 54,936,687 Business-type activities:

Charges for Services:

Sewer 32,202,568 31,349,390 31,790,037 41,737,548 51,981,922 Golf 2,179,638 2,259,273 2,155,822 2,361,164 - Capital Grants and Contributions 1,418,940 9,648,484 4,559,627 2,628,892 1,231,712 Total business-type activities program revenues 35,801,146 43,257,147 38,505,486 46,727,604 53,213,634 Total primary government program revenues 78,392,813$ 100,171,939$ 89,388,195$ 108,436,156$ 108,150,321$ Net (Expense)/Revenue
Governmental activities (78,281,333)$ (64,581,199)$ (87,109,478)$ (91,869,949)$ (107,593,464)$ Business-type activities 7,807,203 10,885,230 8,154,696 15,066,637 22,234,110 Total primary government net expense (70,474,130)$ (53,695,969)$ (78,954,782)$ (76,803,312)$ (85,359,354)$ Source: City of San Mateo Annual Comprehensive Financial Reports City of San Mateo
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)

FISCAL YEAR
194

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2020 2021 2022 2023 2024
Expenses
Governmental activities:

General government 24,844,817$ 22,566,708$ 23,459,894$ 28,633,018$ 27,773,248$ Community development 11,079,458 11,362,295 20,402,608 16,765,437 14,269,937 Public safety 84,968,332 88,274,410 66,993,033 94,267,213 92,903,796 Public works 26,353,672 22,560,152 21,712,677 28,996,164 31,088,776 Parks and recreation 18,827,857 17,581,661 16,497,215 20,923,090 24,598,631 Golf 2,363,389 2,406,028 2,368,719 2,505,214 - Library 9,546,338 8,797,338 8,678,548 9,421,539 10,598,001 Interest and fiscal charges 1,967,739 2,674,930 2,447,923 2,494,361 2,407,407 Total governmental activities expenses 179,951,602 176,223,522 162,560,617 204,006,036 203,639,796 Business-type activities:

Sewer 39,159,040 40,969,271 41,868,215 41,833,626 45,059,021 Golf - - - - - Total business-type activities expenses 39,159,040 40,969,271 41,868,215 41,833,626 45,059,021 Total primary government expenses 219,110,642$ 217,192,793$ 204,428,832$ 245,839,662$ 248,698,817$ Program Revenues
Governmental activities:

Charges for Services:

General government 4,196,601$ 6,305,379$ 7,754,336$ 6,404,657$ 6,755,941$ Community development 11,367,968 11,277,683 10,420,500 13,320,594 12,636,122 Public safety 6,334,734 2,402,026 2,179,473 3,166,616 4,132,856 Public works 10,140,356 7,117,981 8,860,490 7,540,418 8,506,152 Parks and recreation 3,158,517 1,010,881 2,921,700 3,512,400 7,662,922
Golf 2,206,781 3,129,139 3,529,967 3,105,744 - Library 395,001 270,043 314,628 318,769 381,127 Operating Grants and Contributions 7,613,730 19,005,126 16,397,540 9,841,723 11,003,457 Capital Grants and Contributions 10,814,961 9,354,286 9,085,257 5,390,848 13,247,974 Total governmental activities program revenues 56,228,649 59,872,544 61,463,891 52,601,769 64,326,551 Business-type activities:

Charges for Services:

Sewer 58,741,767 67,962,290 71,491,119 77,987,677 81,333,394 Golf - - - - - Capital Grants and Contributions 7,290,894 5,931,349 21,355,870 15,487,045 8,179,541 Total business-type activities program revenues 66,032,661 73,893,639 92,846,989 93,474,722 89,512,935 Total primary government program revenues 122,261,310$ 133,766,183$ 154,310,880$ 146,076,491$ 153,839,486$ Net (Expense)/Revenue
Governmental activities (123,722,953)$ (116,350,978)$ (101,096,726)$ (151,404,267)$ (139,313,245)$ Business-type activities 26,873,621 32,924,368 50,978,774 51,641,096 44,453,914 Total primary government net expense (96,849,332)$ (83,426,610)$ (50,117,952)$ (99,763,171)$ (94,859,331)$ Source: City of San Mateo Annual Comprehensive Financial Reports City of San Mateo
Changes in Net Position (Continued)
Last Ten Fiscal Years
(accrual basis of accounting)

FISCAL YEAR
195

304 of 356

2015 2016 2017 2018 2019
General Revenues and Other Changes in Net Position
Government activities:

Taxes
Property taxes 45,514,243$ 49,821,722$ 52,989,559$ 58,137,331$ 63,899,034$ Sales taxes 26,406,209 27,458,762 26,001,431 26,313,958 28,606,235 Property transfer tax 10,636,846 9,894,291 12,179,016 11,778,074 13,918,129 Other taxes 13,764,540 14,503,661 14,536,828 14,777,396 14,947,968 Franchise taxes 3,049,847 3,143,082 3,142,369 3,208,096 3,134,906 Motor vehicle taxes 61,024 416,222 55,990 64,442 - Investment income (loss) 1,167,612 2,469,425 978,899 1,521,257 7,180,752 Other - GASB 68 Adjustment - 344,425 - - - Other revenues - - 32,694 66,005 42,081 Transfers (2,501,852) (3,020,196) (850,000) (525,000) (1,788,676) - 7,274,984 - - - - - - - (8,876,767) Total Governmental activities: 98,098,469 112,306,378 109,066,786 115,341,559 121,063,662 Business-type activities:

Investment income 250,398 524,455 141,950 189,713 1,379,769 Gain (Loss) on sale of capital assets - - - - - Miscellaneous revenues - - - - - Transfers 2,501,852 3,020,196 850,000 525,000 1,788,676 Total business-type activities 2,752,250 3,544,651 991,950 714,713 3,168,445

Total primary government 100,850,719$ 115,851,029$ 110,058,736$ 116,056,272$ 124,232,107$ Change in Net Position
Governmental activities 19,817,136$ 47,725,179$ 21,957,308$ 23,471,610$ 13,470,198$ Business-type activities 10,559,453 14,429,881 9,146,646 15,781,350 25,402,555 Total primary government 30,376,589$ 62,155,060$ 31,103,954$ 39,252,960$ 38,872,753$ Source: City of San Mateo Annual Comprehensive Financial Reports Last Ten Fiscal Years
(accrual basis of accounting)
Special Item: Transfer of fire activities
Special Item: Transfer of properties from
Successor Agency

FISCAL YEAR
City of San Mateo
Changes in Net Position (Continued)
196

305 of 356

2020 2021 2022 2023 2024
General Revenues and Other Changes in Net Position
Government activities:

Taxes
Property taxes 67,106,048$ 66,631,563$ 74,796,572$ 83,298,878$ 81,331,244$ Sales taxes 26,958,595 27,948,874 33,408,980 34,283,362 32,380,449 Property transfer tax 9,137,370 11,783,952 14,344,715 7,418,099 8,634,762 Other taxes 11,173,135 7,439,757 11,445,378 16,356,131 14,976,125 Franchise taxes 3,170,550 3,033,639 3,117,140 3,627,304 3,403,374 Motor vehicle taxes - - - - - Investment income (loss) 7,259,659 488,757 (6,317,294) 4,554,367 15,375,641 Other - GASB 68 Adjustment - - - - - Other revenues 64,312 904,137 383,384 2,140,985 2,010,153 Transfers - - - 1,794,000 - - - - - - - - - - - Total Governmental activities: 124,869,669 118,230,679 131,178,875 153,473,126 158,111,748 Business-type activities:

Investment income 5,845,282 851,242 (602,477) 7,176,108 9,342,754 Gain (Loss) on sale of capital assets - (22,292) 98,330 (101,329) - Miscellaneous revenues - 1,375 - 403,854 848,548 Transfers - - - (1,794,000) - Total business-type activities 5,845,282 830,325 (504,147) 5,684,633 10,191,302
Total primary government 130,714,951$ 119,061,004$ 130,674,728$ 159,157,759$ 168,303,050$ Change in Net Position
Governmental activities 1,146,716$ 118,230,679$ 30,082,149$ 2,068,859$ 18,798,503$ Business-type activities 32,718,903 830,325 50,474,627 57,325,729 54,645,216 Total primary government 33,865,619$ 119,061,004$ 80,556,776$ 59,394,588$ 73,443,719$ Source: City of San Mateo Annual Comprehensive Financial Reports Special Item: Transfer of properties from
Successor Agency
Special Item: Transfer of fire activities
City of San Mateo
Changes in Net Position (Continued)
Last Ten Fiscal Years
(accrual basis of accounting)

FISCAL YEAR
197

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198

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Property
Fiscal Property Sales Transfer Franchise Other
Year Tax Tax Tax Tax Taxes Total
2015 45,514,243$ 26,406,209$ 10,636,846$ 3,049,847$ 13,825,564$ 99,432,709$ 2016 49,821,722 27,458,762 9,894,291 3,143,082 14,919,883 105,237,740 2017 52,989,559 26,001,431 12,179,016 3,142,369 14,592,818 108,905,193 2018 58,137,331 26,313,958 11,778,074 3,208,096 14,841,838 114,279,297 2019 63,899,034 28,606,235 13,918,129 3,134,906 14,947,968 124,506,272 2020 67,106,048 26,958,595 9,137,370 3,170,550 11,173,135 117,545,698 2021 66,631,563 27,948,874 11,783,952 3,033,639 7,439,757 116,837,785 2022 74,796,572 33,408,980 14,344,715 3,117,140 11,445,378 137,112,785 2023 83,298,878 34,283,362 7,418,099 3,627,304 16,356,131 144,983,774 2024 81,331,244 32,380,449 8,634,762 3,403,374 14,976,125 140,725,954 Source: City of San Mateo Annual Comprehensive Financial Reports (accrual basis of accounting)
Last Ten Fiscal Years
Governmental Activities Tax Revenues By Source
City of San Mateo
199

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2015 2016 2017 2018 2019
General Fund
Nonspendable fund balance 133,030$ 93,968$ 146,668$ 1,365,781$ 1,138,335$ Restricted fund balance - - - - - Committed fund balance - - - 1,310,590 2,382,262 Assigned fund balance 696,064 653,902 1,151,152 983,063 708,521 Unassigned fund balance 46,814,928 57,850,140 65,807,692 71,844,796 83,958,171 Total General Fund 47,644,022$ 58,598,010$ 67,105,512$ 75,504,230$ 88,187,289$ All Other Governmental Funds
Nonspendable fund balance -$ -$ -$ 4,206$ -$ Restricted fund balance 36,477,074 42,628,946 42,468,316 54,997,971 55,140,874 Committed fund balance 51,111,814 63,490,793 66,261,696 66,085,830 70,357,550 Assigned fund balance - - - - - Unassigned fund balance (deficit) - - - - - Total all other Governmental Funds 87,588,888$ 106,119,739$ 108,730,012$ 121,088,007$ 125,498,424$

Source: City of San Mateo Annual Comprehensive Financial Reports

FISCAL YEAR
City of San Mateo
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
200

309 of 356

2020 2021 2022 2023 2024
General Fund
Nonspendable fund balance 801,607$ 329,193$ 357,245$ 284,396$ 304,759$ Restricted fund balance - - - 599,425 550,000 Committed fund balance 1,370,873 1,370,873 16,294,331 - - Assigned fund balance 670,609 - 1,097,978 9,304,494 11,443,226 Unassigned fund balance 82,719,189 90,258,189 93,702,456 107,690,904 105,659,356 Total General Fund 85,562,278$ 91,958,255$ 111,452,010$ 117,879,219$ 117,957,341$ All Other Governmental Funds
Nonspendable fund balance -$ -$ 9,000$ -$ -$ Restricted fund balance 107,881,837 71,611,963 77,144,719 128,358,271 131,583,602 Committed fund balance 75,420,851 93,093,835 65,881,489 - - Assigned fund balance - - - 17,200,801 26,595,669 Unassigned fund balance (deficit) - (586,982) (1,401,910) - - Total all other Governmental Funds 183,302,688$ 164,118,816$ 141,633,298$ 145,559,072$ 158,179,271$

FISCAL YEAR
Source: City of San Mateo Annual Comprehensive Financial Reports City of San Mateo
Fund Balances of Governmental Funds (Continued)
Last Ten Fiscal Years
(modified accrual basis of accounting)
201

310 of 356

2015 2016 2017 2018 2019
Revenues:

Property taxes 45,514,243$ 49,821,722$ 52,989,555$ 58,137,331$ 63,899,035$ Sales taxes 26,406,209 27,458,762 26,001,428 26,313,958 28,606,235 Other taxes 27,492,257 27,947,256 29,904,204 29,818,008 32,051,159 Licenses, building and other permits 10,993,854 12,481,519 13,986,765 16,829,698 9,820,297 Fines, forfeitures and Penalties 1,797,820 1,608,517 2,347,508 1,983,069 2,361,048 Intergovernmental revenues 9,000,823 10,139,448 10,514,086 10,081,168 13,900,475 Charges for services 9,822,219 11,642,713 10,994,505 11,865,030 13,006,381 Investment income (loss) 939,463 2,016,000 436,583 1,274,997 6,257,565 Indirect and in-lieu fees - - - - 1,317,331 Assessment and garbage collection surcharge 3,128,070 8,000,287 2,405,534 2,591,689 1,887,074 Parking meter and lease revenue 2,722,471 2,881,193 3,113,739 5,334,641 4,320,920 Impact fees 3,260,222 4,274,248 3,747,065 4,021,226 1,754,337 Capital contributions - - - 375,000 750,000 Other revenues 2,402,206 3,438,927 3,751,388 3,851,650 5,140,943 Total revenues 143,479,857 161,710,592 160,192,360 172,477,465 185,072,800 Expenditures:

General government 12,563,127 13,389,976 11,823,438 12,631,562 13,248,604 Community development 7,304,546 7,283,445 8,382,090 8,968,166 9,870,728 Public safety 53,016,349 58,605,898 63,623,621 68,708,919 63,971,508 Public works 6,103,576 7,128,676
8,585,107 10,030,818 10,525,838 Parks and recreation 12,759,601 13,190,936 14,666,422 14,967,718 15,563,445 Golf - - - - 2,152,691 Library 5,744,931 6,099,700 6,499,489 6,721,084 7,421,137 Non-departmental 1,280,000 1,250,000 2,891,155 3,001,379 5,726,983 Capital outlay 18,045,935 20,745,215 28,829,906 18,367,591 22,865,146 Debt service:

Principal 1,802,440 1,939,637 2,019,637 7,842,077 2,128,016 Interest and fiscal charges 1,761,775 1,656,297 1,702,963 1,705,078 1,624,137 Cost of issuance - - - - - Total expenditures 120,382,280 131,289,780 149,023,828 152,944,392 155,098,233 Excess of revenues
over (under) expenditures 23,097,577 30,420,812 11,168,532 19,533,073 29,974,567 Other Financing Sources (Uses):

Proceeds from debt issuance - - - - - Premium - - - - - Debt refunding - payment to escrow - - - - - Proceeds from loans 265,820 14,027 746,896 2,157,843 - Proceeds from sale of capital assets - - - - - Inception of subscription liability - - - - -
Transfers in 11,402,970 13,083,222 14,117,848 20,890,354 12,938,471 Transfers out (13,729,596) (14,033,222) (14,915,501) (21,824,557) (12,995,487) Total other financing sources (uses) (2,060,806) (935,973) (50,757) 1,223,640 (57,016) Special Item: Transfer of fire activities - - - - (12,824,075) Net change in fund balances 21,036,771$ 29,484,839$ 11,117,775$ 20,756,713$ 17,093,476$

3.42% 3.11% 3.01% 6.89% 2.82%
Notes:

Source: City of San Mateo Annual Comprehensive Financial Reports Debt Service as a percentage of noncapital expenditures (1)
(1) Non-capital expenditures is the difference between total expenditures and capital outlay reported on Government-wide Statement of Activities.

FISCAL YEAR
City of San Mateo
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
202

311 of 356

2020 2021 2022 2023 2024
Revenues:

Property taxes 67,106,048$ 66,631,563$ 74,796,572$ 83,298,878$ 81,331,244$ Sales taxes 26,958,596 27,948,874 33,408,980 34,283,362 32,380,449 Other taxes 23,481,055 22,257,348 28,907,233 27,140,943 26,771,455 Licenses, building and other permits 8,511,610 8,123,453 6,528,252 8,169,947 7,345,890 Fines, forfeitures and Penalties 1,486,473 2,247,808 2,201,172 2,909,055 3,242,892 Intergovernmental revenues 13,455,252 19,888,509 23,286,197 14,501,361 13,522,487 Charges for services 12,140,217 11,638,776 16,758,036 19,016,452 21,178,777 Investment income (loss) 6,451,349 411,387 (5,494,064) 3,403,037 13,744,895 Indirect and in-lieu fees 710,540 - - - - Assessment and garbage collection surcharge 1,952,167 6,268,685 2,248,303 2,702,720 2,897,760 Parking meter and lease revenue 5,960,255 2,023,435 5,807,293 3,424,971 3,199,677 Impact fees 4,471,088 1,741,192 613,890 147,064 - Capital contributions 750,000 750,000 750,000 750,461 9,764,955 Other revenues 4,440,498 6,513,514 5,030,830 4,622,308 5,340,645 Total revenues 177,875,148 176,444,544 194,842,694 204,370,559 220,721,126 Expenditures:

General government 14,127,919 14,777,676 14,824,775 14,095,593 15,524,365 Community development 9,903,606 10,450,200 20,931,630 14,508,302 13,862,340 Public safety 69,607,595 74,041,289 76,979,872 81,196,170 87,526,868 Public works 11,194,667 10,555,345
11,410,240 13,130,985 15,607,016 Parks and recreation 15,177,801 14,341,093 16,260,067 17,175,614 21,136,909 Golf 2,210,391 2,406,028 2,368,719 2,505,214 - Library 7,260,024 7,063,780 7,645,003 7,836,173 8,619,895 Non-departmental 6,535,562 7,357,090 8,244,606 9,662,288 9,968,106 Capital outlay 30,549,652 42,765,863 31,945,962 29,334,514 27,615,436 Debt service:

Principal 2,742,918 3,411,945 4,691,724 5,668,626 5,956,172 Interest and fiscal charges 1,554,488 3,412,560 2,950,846 2,869,645 2,806,831 Cost of issuance 380,166 - - - - Total expenditures 171,244,789 190,582,869 198,253,444 197,983,124 208,623,938 Excess of revenues
over (under) expenditures 6,630,359 (14,138,325) (3,410,750) 6,387,435 12,097,188 Other Financing Sources (Uses):

Proceeds from debt issuance 47,595,599 1,525,675 - - - Premium 8,068,164 - - - - Debt refunding - payment to escrow (4,006,995) - - - - Proceeds from loans - - - - - Proceeds from sale of capital assets 713,154 - - 15,066 21,354 Inception of subscription liability - - - 2,862,579 1,076,231
Transfers in 21,124,557 21,438,281 14,919,215 23,783,665 31,096,445 Transfers out (24,945,585) (21,613,526) (14,500,228) (22,695,762) (31,592,897) Total other financing sources (uses) 48,548,894 1,350,430 418,987 3,965,548 601,133 Special Item: Transfer of fire activities - - - - - Net change in fund balances 55,179,253$ (12,787,895)$ (2,991,763)$ 10,352,983$ 12,698,321$

2.98% 4.58% 4.90% 5.14% 4.85%
Notes:

Source: City of San Mateo Annual Comprehensive Financial Reports (1) Non-capital expenditures is the difference between total expenditures and capital outlay reported on Government-wide Statement of Activities.

Debt Service as a percentage of noncapital expenditures (1)

FISCAL YEAR
City of San Mateo
Changes in Fund Balances of Governmental Funds (Continued) Last Ten Fiscal Years
(modified accrual basis of accounting)
203

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Fiscal
Year
End
Residential
Property
Commercial
Property
Industrial
Property
Other
Property (1)
Unsecured
Property
Less Tax-
Exempt
Property
Taxable
Assessed Value
Total
Direct Tax
Rate (2)
Estimated
Actual Value
(3)
Factor of
Taxable
Assessed
Value (3)
2015 15,233,601$ 3,228,752 $ $ 199,821 291,470$ 724,375$ $ 309,015 19,369,004$ 0.18% 32,278,244$ 1.6665 2016 16,649,492 3,454,897 176,544 324,490 760,591 348,736 21,017,279 0.18% 40,006,118 1.9035 2017 17,909,339 3,823,284 180,072 574,686 738,320 591,188 22,634,512 0.18% 44,026,273 1.9451 2018 19,417,451 4,213,927 187,130 598,899 710,584 587,446 24,540,546 0.18% 48,683,633 1.9838 2019 20,830,053 4,927,490 197,026 547,948 774,755 670,274 26,606,997 0.18% 54,298,177 2.0407 2020 22,332,343 5,423,015 213,692 532,710 847,426 707,556 28,641,629 0.18% 55,884,822 1.9512 2021 23,744,131 6,182,033 230,600 591,123 796,824 744,934 30,799,777 0.18% 51,914,472 1.6855 2022 24,687,992 6,260,358 237,818 712,697 733,747 750,172 31,882,440 0.18% 62,404,646 1.9573 2023
26,725,006 6,912,012 250,071 639,168 747,059 801,890 34,471,426 0.18% 67,076,627 1.9459 2024 28,087,540 7,379,284 274,663 670,178 783,613 843,621 36,351,657 0.18% 64,202,152 1.7661 2) Total direct tax rate is the city share of the 1% Proposition 13 tax only for TRA 12-001. Rates are not adjusted for ERAF.

Source: County Assessor data,Source: MuniServices, LLC / Avenu Insights & Analytics City of San Mateo
Last Ten Fiscal Years
(amount expressed in thousands)
Assessed Value and Estimated Actual Value of Taxable Property Notes:
1) Other property includes state unitary value of $3,294,887. 3) 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. 204

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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Basic City and County Levy
CITY OF SAN MATEO 0.1761 0.1761 0.1761 0.1761 0.1761 0.1761 0.1761 0.1761 0.1761 0.1761

OTHER SAN MATEO
COUNTY AGENCIES 0.8239 0.8239 0.8239 0.8239 0.8239 0.8239 0.8239 0.8239 0.8239 0.8239 TOTAL 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 Override Assessments
S M CTY DEBT-LIB. PROJECT 0.0105 0.0102 0.0090 0.0084 0.0077 0.0071 0.0067 0.0064 0.0060 0.0057 S M FOSTER CITY SERIES Q - - - - - - 0.0022 0.0035 0.0015 0.0159

SM FC EL BD REFUND SER - - - - - - - - - - SM FOSTER CITY 2005 REF 0.0185 0.0197 0.0156 0.0162 0.0170 0.0042 - - - - SM FC 2012 GO REF Ser 0 0.0071 0.0069 0.0060 0.0056 0.0052 0.0050 - - - - SM FC GO BOND 08 ELEC 0.0132 0.0082 0.0154 0.0151 0.0146 0.0140 0.0073 0.0053 0.0086 - SM FC GO BOND 2014 - 0.0006 0.0002 0.0003 0.0003 0.0011 0.0013 0.0014 0.0013 - SM FC GO BOND 2015 -

0.0048 0.0174 0.0170 0.0159 0.0194 0.0151 0.0173 0.0159 0.0007 SM FC GO BOND ELECT 202 - - - - - - - - - 0.0285 SM FC GO BD 2020 REFUND - - - - - - 0.0203 0.0390 0.0340 0.0114 SAN MATEO HIGH 2017 GO - - - - 0.0020 0.0016 0.0015 0.0014 0.0020 0.0019 SAN MATEO HIGH BD SER 2 0.0072 0.0064 0.0066 0.0065 0.0063 0.0063 0.0021 - 0.0049 0.0036 SAN MATEO UN HIGH BND S 0.0108 0.0063 0.0063 0.0063 0.0047 0.0036 0.0061 0.0061 0.0022 0.0022 SAN MATEO HIGH RFND. SER - - - - - - 0.0044 0.0247 0.0038 0.0033 SAN MATEO HIGH 2012 GO 0.0078 0.0088 0.0106 0.0105 0.0115 0.0109 0.0019 0.0046 0.0026 0.0025 SAN MATEO HIGH 2016 GO - - - 0.0025 0.0020 0.0018 0.0061 0.0036 0.0069 0.0096 SAN MATEO HIGH 2019 GO - -
- - - - 0.0025 0.0023 0.0020 0.0019 SAN MATEO HIGH 2019 REF - - - - - - 0.0020 0.0061 0.0015 0.0014 SAN MATEO HIGH 2022 GO - - - - - - - - 0.0021 0.0017 SM JR COLLEGE BD 2002 - 0.0012 0.0019 0.0019 0.0018 0.0019 0.0019 0.0020 0.0016 0.0017 SM JR COLL BOND SER 200 0.0002 - - - - - 0.0018 0.0019 0.0017 0.0016 SM JR COLL BOND 2001 SE 0.0009 0.0008 0.0006 0.0007 0.0007 0.0007 0.0007 0.0007 0.0006 0.0007 SM JR COLL BOND 2006 SE 0.0042 0.0039 0.0037 0.0036 0.0035 0.0033 0.0032 0.0031 0.0026 0.0021 SM JR COLL BOND 2014 - - 0.0029 0.0027 0.0024 0.0018 0.0017 - 0.0003 0.0012 SM JR COLL BOND 2015 - - 0.0071 0.0066 0.0012 0.0011 0.0012 - 0.0002 0.0002 SAN MATEO COMM COLL 200 0.0069

0.0036 0.0085 0.0080 0.0079 0.0042 0.0037 0.0040 0.0039 0.0040 SAN MATEO HIGH ELEC 0.0217 0.0251 0.0180 0.0175 0.0142 0.0143 0.0183 - 0.0224 0.0195 SM JR COLL BOND REF 201 0.0068 0.0155 - - - - 0.0025 0.0019 - - SAN MATEO COMM COLL - - - - - 0.0035 - 0.0043 0.0035 0.0033 SM JR COLL ELECT 2014 - - - - - 0.0088 0.0036 0.0039 0.0040 0.0035 SM JR COLL 2018 REF BOND - - - - - 0.0007 0.0005 0.0005 0.0005 0.0004 SM JR COLL 2019 REF BOND - - - - - 0.0006 0.0005 0.0004 0.0004 0.0003 TOTAL 0.1158 0.1220 0.1298 0.1294 0.1189 0.1159 0.1191 0.1444 0.1370 0.1288 TOTAL TAX RATE 1.1158 1.1220 1.1298 1.1294 1.1189 1.1159 1.1191 1.1444 1.1370 1.1288 Sources: (1) City of San Mateo Annual Comprehensive Financial Reports (2) County Auditor/Controller data, MuniServices, LLC / Avenu Insights & Analytics

FISCAL YEAR
City of San Mateo
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
(rate expressed in percentage)
205

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Taxpayer
Taxable
Value Rank
Percent of
Total City
Taxable
Value
Taxable
Value Rank
Percent of
Total City
Taxable
Value
Bay Meadows Station Investors LLC 1,003,030,576 1 2.76% Essex Portfolio LP 617,933,473 2 1.70% HSC Property Owner LLC 592,926,000 3 1.63% Franklin Templeton Corp Svcs Inc 471,210,306 4 1.30% 263,049,333 1 1.36% 2000 Sierra Point Parkway LLC 343,104,674 5 0.94% 1825 SG Corporation 288,422,365 6 0.79% HG Clearview Owner LLC 237,352,594 7 0.65% ASN Bay Meadows I LLC & Bay Meadows II LLC 231,897,884 8 0.64% 196,730,033 2 1.02% Rakuten CHW LLC 200,339,106 9 0.55%
Hospitality Investment LLC Lessee 188,690,978 10 0.52% Park Place Holdco LLC 110,400,000 3 0.57%
Sobrato Interests 3 154,644,275 4 0.80%
BRE Properties Inc 55,524,909 5 0.29% Bohannon Dev Co 177,471,548 6 0.92%
Peninsula Office Park 131,316,433 7 0.68% Essex Hillsdale Garden Apts 107,889,425 8 0.56% DW Bridgepointe LLC 98,299,639 9 0.51% SPK San Mateo Baycenter LLC 96,178,493 10 0.50% Total Top 10 Taxpayers 4,174,907,956 11.48% 1,391,504,088 7.18% Total Taxable Value 36,351,657,524 $ 100.00% 19,369,003,662 $ 100.00% Source: MuniServices, LLC / Avenu Insights & Analytics
2024 2015
City of San Mateo
Current Year and Nine Years Ago
Principal Property Taxpayers
206

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Fiscal
Year Total Tax Delinquent
Ended Levied for Collected Percentage Tax Collected Percentage June 30 Fiscal Year (1) Amount (2) of Levy Collections (3) Amount of Levy (4) 2015 45,515,000$ 45,514,243$ 100.00% n/a 45,514,243$ 100.00% 2016 49,821,722 49,821,722 100.00% n/a 49,821,722 100.00% 2017 52,989,556 52,989,556 100.00% n/a 52,989,556 100.00% 2018 58,146,288 58,137,331 99.98% n/a 58,137,331 99.98% 2019 63,899,034 63,899,034 100.00% n/a 63,899,034 100.00% 2020 67,106,048 67,106,048 100.00% n/a 67,106,048 100.00% 2021 66,631,560 66,631,560 100.00% n/a 66,631,560 100.00% 2022 74,796,572 74,796,572 100.00% n/a 74,796,572 100.00% 2023 83,298,878 83,298,878 100.00% n/a 83,298,878 100.00% 2024 81,331,244 81,331,244 100.00% n/a 81,331,244 100.00% Notes:

Source: County of San Mateo
Total Collections To Date
Collected Within the
City of San Mateo
Property Tax Levies and Collections
Last Ten Fiscal Years
(2) Former redevelopment agency tax increments were excluded starting February 1, 2012, and subsequent fiscal years. (4) Years of lower collection are due to weak housing market and assessed value appeals.

Fiscal Year of the Levy
(1) The data in this table includes the basic and supplemental city property taxes and subventions, debt service tax and the Redevelopment Agency tax increments, ERAF refunds, and property tax in-lieu of motor vehicle fees. (3) San Mateo County assesses properties and it bills, collects, and distributes property taxes to all taxing entities, including the City. Under State law, known as the Teeter Plan, the county remits the entire amount levied and handles all delinquencies, retaining interest and penalties. Only secured taxes will be paid under the Teeter Plan.
207

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Governmental Activities
General
Fiscal Obligation Revenue Loans Lease Subscription Total Year Bonds Bond Payable Liability Liability Governmental 2015 27,580$ 27,478$ 253$ -$ -$ 55,311$ 2016 26,268 26,774 193 - - 53,235 2017 24,920 26,026 865 - - 51,811 2018 23,528 19,512 2,936 - - 45,976 2019 22,086 25,408 2,728 86 - 50,308 2020 20,584 74,356 4,323 29 - 99,292 2021 19,032 72,379 5,501 - - 96,912 2022 17,410 69,888 4,880 - - 92,178 2023 15,733 67,394 4,285 1,054 3,473 91,939 2024 13,986 64,801 3,689 442 3,651 86,569 Notes:

Details regarding the City's outstanding debt can be found in the notes to the financial statements.

City of San Mateo
(amounts expressed in thousands, except per capita amount) Last Ten Fiscal Years
Ratios of Outstanding Debt by Type
Former Redevelopment Agency Bonds were excluded in fiscal year 2012 and subsequent fiscal years.

Golf bond was included in Governmental Activities Revenue Bond effective fiscal year 2019 (when Golf operation was transferred to General Fund) Capital lease payable was included in Governmental Activities capital lease payable effective fiscal year 2019 (when Golf operation was transferred to General Fund) Source: City of San Mateo Annual Comprehensive
208

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Business-Type Activities
Total Percentage Redevelopment County
Fiscal Sewer Loans Golf Lease Total Primary of Personal Per Tax Allocation CDBG Year Bonds Payable Bond Liability Business-Type Government Income Capita Bond Loan 2015 $ 61,434 4,916 $ 7,465 $ - 73,815.00 $ 129,126$ 2.54% $ 1,277 75,549.00$ $ - 2016 59,867 11,000 7,095 - 77,962 131,197 2.45% 1,288 72,202 - 2017 58,244 5,000 6,710 209 70,163 121,974 2.12% 1,187 68,400 - 2018 56,572 5,000 6,572 142 68,286 114,262 1.88% 1,112 63,395 - 2019 338,126 - - - 338,126 388,434 6.17% 3,788 59,095 - 2020 334,752 - - - 334,752 434,044 6.89% 4,230 55,045 - 2021 331,296 - - - 331,296 428,208 6.30% 4,175 50,875 - 2022 635,380 - - - 635,380 727,558 9.23% 7,030 46,546 - 2023 619,136 - - 75 619,211 711,150 7.75% 6,883 42,046 - 2024 318,566 295,479 - 38 614,083 700,652 6.83% 6,779 37,371 - Notes:

Former Redevelopment Agency Bonds were excluded in fiscal year 2012 and subsequent fiscal years.

Golf bond was included in Governmental Activities Revenue Bond effective fiscal year 2019 (when Golf operation was transferred to General Fund) Fiduciary Funds
City of San Mateo
Ratios of Outstanding Debt by Type (Continued)
Last Ten Fiscal Years
(amounts expressed in thousands, except per capita amount) Details regarding the City's outstanding debt can be found in the notes to the financial statements.

Source: City of San Mateo Annual Comprehensive Financial Reports Capital lease payable was included in Governmental Activities capital lease payable effective fiscal year 2019 (when Golf operation was transferred to General Fund) 209

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Percentage
General Less: Amount of Total Taxable
Fiscal Obligation Available in Assessed
Year Bonds Debt Svc Fund Total (net) Value Per Capita
2015 27,580 $ 3,034 $ 24,546 $ 0.13% 242 $ 2016 26,268 3,642 22,626 0.11% 220 2017 24,920 4,026 20,894 0.09% 202 2018 23,528 4,455 19,073 0.08% 183 2019 22,086 4,960 17,126 0.06% 164 2020 20,584 5,340 15,244 0.05% 148 2021 19,032 5,701 13,331 0.04% 129 2022 17,410 5,929 11,481 0.04% 111 2023 15,733 6,661 9,072 0.02% 88 2024 13,986 7,575 6,411 0.02% 62 Source: City of San Mateo Annual Comprehensive Financial Reports Details regarding the City's outstanding debt can be found in the notes to the financial statements.

Former Redevelopment Agency Bonds were excluded in fiscal year 2012 and subsequent fiscal years.

City of San Mateo
Ratios of General Bonded Debt Outstanding
Last Ten Fiscal Years
(amounts expressed in thousands, except per capita amount) Notes:
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2023-24 Assessed Valuation: 36,458,670,724$
Total Debt % City’s Share of
OVERLAPPING TAX AND ASSESSMENT DEBT: 6/30/2024 Applicable(1) Debt 6/30/2024
San Mateo Community College District 682,237,216 $ 11.85% 80,817,821$ San Mateo Union High School District 703,110,767 34.43% 242,045,882 $ Sequoia Union High School District 488,322,000 0.54% 2,641,822 $ Belmont-Redwood Shores School District 69,920,935 3.72% 2,597,563 $ Belmont School Facilities Improvement District 39,231,717 6.55% 2,569,285 $ Hillsborough School District 98,867,884 0.00% 989 $ San Mateo-Foster City School District 497,628,474 68.52% 340,975,030 $ City of San Mateo Community Facilities District No.2008-1 71,350,000 100.00% 71,350,000 $ TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 2,650,668,993 $ 742,998,392 $ DIRECT TAX AND ASSESSMENT DEBT:

City of San Mateo 13,030,000 100.00% 13,030,000 $ TOTAL DIRECT TAX AND ASSESSMENT DEBT 13,030,000 $ 13,030,000 $ TOTAL DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEBT 2,663,698,993$ 756,028,392 $ OVERLAPPING GENERAL FUND DEBT:

San Mateo County General Fund Obligations 565,146,645$ 11.85% 66,947,272$ San Mateo County Board of Education Certificates of Participation 5,735,000 11.85% 679,368$ Belmont-Redwood Shores School District General Fund Obligations 4,498,074 3.72% 167,103$ Highlands Recreation District General Fund Obligations 1,879,000 0.02% 282$ San Mateo County Mosquito & Vector Control District General Fund Obligations 3,404,654 11.85% 403,315$ TOTAL OVERLAPPING GENERAL FUND DEBT 580,663,373$ 68,197,340$ DIRECT GENERAL FUND DEBT:

City of San Mateo General Fund Obligations 57,735,000 100.00% 57,735,000 TOTAL DIRECT GENERAL FUND DEBT 57,735,000$ 57,735,000$ TOTAL DIRECT AND OVERLAPPING GENERAL FUND DEBT 638,398,373$ 125,932,340$ Less: City of San Mateo enterprise supported obligations - Highlands Recreation District supported obligations 220 TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND DEBT 125,932,120$ OVERLAPPING TAX INCREMENT DEBT (Successor Agency) 35,460,000$ 100.00% 35,460,000$ TOTAL GROSS DIRECT DEBT 70,765,000
TOTAL NET DIRECT DEBT 70,765,000
TOTAL OVERLAPPING DEBT 846,655,733
GROSS COMBINED TOTAL DEBT 917,420,732 (2)
NET COMBINED TOTAL DEBT 917,420,512$
Ratios to 2023-24 Assessed Valuation:

Direct Debt ($13,030,000) 0.04%
Total Direct and Overlapping Tax and Assessment Debt 2.07% Total Gross Direct Debt ($70,765,000) 0.19%
Total Net Direct Debt ($70,765,000) 0.19%
Gross Combined Total Debt 2.52%
Net Combined Total Debt 2.52%
Ratios to Redevelopment Successor Agency Incremental Valuation ($2,896,993,541):

Total Overlapping Tax Increment Debt 1.22%
Notes:

Source: MuniServices, LLC / Auenu Insights & Analysis and City of San Mateo Annual Comprehensive Financial Reports City of San Mateo
Direct and Overlapping Governmental Activities Debt
As of June 30, 2024
(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 and mortgage revenue 211

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2015 2016 2017 2018 2019
Debt Limit 2,951,703$ 3,204,902$ 3,483,855$ 3,769,199$ 4,091,591$ Total net debt applicable to limit 27,580 26,268 24,920 23,528 22,086 Legal debt margin 2,924,123$ 3,178,634$ 3,458,935$ 3,745,671$ 4,069,505$ Total net debt applicable to the limit as a
percentage of debt limit 0.93% 0.82% 0.72% 0.62% 0.54%
Note: The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation.

Source: County of San Mateo

FISCAL YEAR
City of San Mateo
Legal Debt Margin Information
Last Ten Fiscal Years
(amounts expressed in thousands)
212

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2020 2021 2022 2023 2024
Debt Limit 4,402,378$ 4,731,707$ 4,894,892$ 5,290,997$ 5,579,292$ Total net debt applicable to limit 20,584 19,032 17,410 15,733 13,986 Legal debt margin 4,381,794$ 4,712,675$ 4,877,482$ 5,275,264$ 5,565,306$ Total net debt applicable to the limit as a
percentage of debt limit 0.47% 0.40% 0.36% 0.30% 0.25%
Legal Debt Margin Calculation for Fiscal Year 2024
2024
Assessed value 36,351,658$
Add back: exempt real property 843,621
37,195,279$
Debt limit (15% of assessed value) 5,579,292 $
Debt Application to limit:

General obligation bonds 13,986
Total net debt applicable to limit 13,986
Legal debt margin 5,565,306$
Note: The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation.

Source: County of San Mateo
City of San Mateo
Legal Debt Margin Information (Continued)
Last Ten Fiscal Years
(amounts expressed in thousands)

FISCAL YEAR
213

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Sewer Less Net
Fiscal Charges Operating Available
Year and Other (1) Expenses (2) Revenue Principal Interest Coverage 2015 32,453$ 19,511 $ 12,942 $ 17,800 $ (3) 2,041$ 3.65 (3) 2016 31,874 23,218 8,656 1,460 2,560 2.15 2017 31,932 21,419 10,513 1,515 2,516 2.61 2018 41,927 21,870 20,057 1,565 2,462 4.98 2019 53,362 23,347 30,015 1,585 3,220 6.25 2020 64,587 22,828 41,759 1,650 9,536 3.73 2021 69,020 24,262 44,758 1,730 13,195 3.00 2022 71,061 24,409 46,652 20,820 (4) 20,413 2.17 (4) 2023 85,586 24,508 61,078 1,740 12,694 4.23 2024 82,501 33,041 49,460 273,430 (5) 12,018 3.56 (5) Notes:
(1) Sewer charges and other include investment earnings. (2) Operating expenses do not include interest or depreciation. (3) Increase due to the refunding of the 2003 Sewer Revenue bonds totaling $16.3 million, which is excluded from the coverage calculation. (4) Increase due to the refunding of the 2011A Sewer Revenue bonds totaling $19.7 million, which is excluded from the coverage calculation. (5) Increase due to the refunding of the 2021B Wastewater Revenue Notes totaling $271.5 million, which is excluded from the coverage calculation.

Source: City of San Mateo Annual Comprehensive Financial Reports Pledged-Revenue Coverage
City of San Mateo
Debt Service
(amounts expressed in thousands)
Last Ten Fiscal Years
Sewer Revenue Bonds
214

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Fiscal
Year
Population
(1) Personal Income (2)
Per Capita
Personal
Income (2)
Median
Age
*Public School
Enrollment
County
Unemployment
Rate (%) (3)
City
Unemployment
Rate(%) (3)
County
Population (1)
City
Population
(% of County)
(1)
2015 101,429$ 4,696,568,416$ $ 46,304 39.2 20,179 3.20% 3.10% 753,123 13.47% 2016 102,659 5,156,150,934 50,226 39.1 20,603 3.40% 3.30% 766,041 13.40% 2017 103,426 5,444,686,980 52,643 39.1 21,074 3.00% 2.90% 770,203 13.43% 2018 104,490 5,850,629,158 55,992 38.9 21,321 2.20% 2.00% 774,155 13.50% 2019 104,570 6,175,904,200 59,060 39.6 21,299 1.70% 1.60% 774,485 13.50% 2020 103,087 6,332,177,735 61,426 39.2 21,461 11.10% 9.70% 773,244 13.33% 2021 103,045 6,832,166,874 66,303 38.2 20,729 6.84% 6.20% 765,245 13.47% 2022 103,779 7,903,471,358 76,157 37.8 20,012 1.70% 1.50% 744,662 13.94% 2023 103,318 9,177,651,153 88,829 38.0 19,554 2.70% 2.80% 737,644 14.01% 2024 103,352 10,259,142,230 99,264 39.4 19,323 2.90% 2.90% 741,565 13.94% Notes:
(1) Population Projections are provided by the California Department of Finance. (2) Income Data is provided by U.S. Census Bureau.
(3) Unemployment Data is provided by the Employment Development Department's Bureau of Labor Statistics Department.

Source: MuniServices, LLC / avenu Insights & Analytics City of San Mateo
Demographic and Economic Statistics
Last Ten Fiscal Years
*Student Enrollment reflects the total number of students enrolled in the San Mateo Union High School District and San Mateo-Foster City Unified School District.

Any other school districts within the City are not accounted for in this statistic. 215

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Business Name
Number of
Employees
Percent of
Total
Employment
(%)
Number of
Employees
Percent of Total
Employment (%)
County of San Mateo Medical Center 1,414 2.30% 2,598 4.20% San Mateo Foster City School District* 1,232 2.00% 1,177 1.90% Sony Interactive Entertainment America, Playstation America** 1,230 2.00% San Mateo Union High School District 1,038 1.69% 1,000 1.62% San Mateo College (San Mateo County CCD) 674 1.09% 1,170 1.89% Franklin Templeton Investor 435 0.71% 1,103 1.78% San Mateo County Behavioral Health 548 0.89% 475 0.77% City of San Mateo 477 0.77% 975 1.58% Mills Health Center - Sutter Health 415 0.67% 451 0.73% Rakuten 253 0.41%
Marketo Inc 471 0.76%
Fisher Investments 465 0.75%
Total Top 10 Employers 7,716 12.53% 9,885 15.97% Total Labor Force (1) 61,600 61,900
Sources:
(1) City of San Mateo Annual Comprehensive Financial Reports (2) MuniServices, LLC / Avenu Insights & Analytics
Results based on direct correspondence with city’s local businesses. *Includes Capuchino and Burlingame HS which are outside the city limits of San Mateo. ** Sony Interactive Entertainment America, Playstation America has not responded.

Previous year's employee headcount applied.
(1) Total City Labor Force provided by EDD Labor Force Data.

Principal Employers for City of San Mateo
City of San Mateo
Current Year and Nine Years Ago
2024 2015
216

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Function 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 General government 57.81 64.75 66.41 65.58 66.09 62.65 62.65 61.95 59.95 58.92 64.39 Community development 39.72 47.35 47.35 48.94 48.94 49.72 51.72 51.40 51.40 53.18 56.18 Public safety 244.77 249.78 256.53 268.11 265.85 177.14 171.51 170.50 167.50 169.40 170.40 (1)
Public works
(excluding Sewer) 44.51 44.52 45.99 57.96 57.11 63.51 61.56 63.71 64.08 67.69 73.28 Parks and recreation
(excluding Golf) 98.79 101.54 101.54 102.07 103.21 107.73 107.73 106.40 107.68 100.47 107.08 Library 47.95 48.85 49.35 50.59 52.48 53.36 53.36 53.34 52.34 52.32 54.32 Sewer 75.24 76.69 77.99 80.49 80.49 84.58 86.53 86.20 84.83 86.52 85.41 Golf 11.14 11.14 11.14 11.77 11.77 12.55 12.55 12.75 12.75 12.75 7.50 Total: 619.93 644.62 656.30 685.51 685.94 611.24 607.61 606.25 600.53 601.25 618.56 Notes:

Source: Adopted City Budgets
(1) Public safety number starting fiscal year 2019 only included Police Department's employees. Fire Operations were transferred to San Mateo Consolidated Fire Department effective 1/13/2019.

City of San Mateo
Full-Time Equivalent City Government Employees by Function Last Ten Fiscal Years
Full-Time Equivalent Employees as of June 30
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Function 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Building:

Building permits issued 3,587 4,359 4,169 4,385 3,678 3,345 3,937 4,061 4,115 3,856 Inspections 16,090 16,984 19,061 20,252 18,828 15,890 19,138 16,160 18,881 18,129 Finance:

Business licenses issued
9,111 9,474 8,796 8,656 8,200 8,072 7,300 7,300 8,350 7,900 Fire:

Number of calls
9,672 9,780 9,282 9,822 5,365 (2) Inspections 7,213 7,504 7,681 4,513 1,284 (2) Golf course:

Golf rounds played
63,903 62,441 59,348 62,923 61,805 60,820 80,050 83,964 75,130 80,636 (3) Library:

Annual circulation 922,790 946,259 981,512 988,301 1,129,127 921,979 657,064 983,423 980,442 1,022,395 (3)
Library visits 566,244 555,008 603,760 610,834 764,469 422,226 25,168 255,644 336,040 379,404 (3) Parks and recreation:

Course registration
23,752 24,843 23,123 23,734 22,521 23,412 5,837 14,537 19,488 19,603 Facility rentals 1,386 1,368 1,346 1,369 1,329 827 - 191 473 397 Picnic rentals 1,275 1,086 1,274 1,340 1,423 1,165 361 1,650 1,608 1,676 Police:

Arrests
3,077 3,311 2,947 2,670 2,496 2,112 2,242 2,231 2,106 2,255 Traffic violations 4,076 6,548 4,470 13,364 11,058 5,999 9,400 7,636 7,853 7,487 (1) Parking violations 35,284 30,699 31,950 27,103 27,410 23,300 36,558 32,276 65,102 60,279 Public works:

Street resurfacing (lane miles) 21 14 4 6 22 7 18 8.5 42.3 6.8 Potholes repaired 443 198 315 150 297 209 331 744 774 557 Sewer:

Number of customers
27,661 27,816 27,965 27,961 28,237 28,366 28,359 28,359 28,359 28,494 Average daily sewage
treatment (mgd)

12.0 10.0 12.2 10.4 11.5 9.9 9.7 10.6 13.0 13.0 Notes:

Source: Various City Departments
(1) Number of traffic violations starting fiscal year 2018 included number of photo enforcement violations. Such information was not available for prior fiscal years. (2) Number of fire calls for fiscal year 2019 included calls for period from 7/1/18 to 1/12/19. Fire operation was transferred to San Mateo Consolidated Fire Department (SMC Fire) effective 1/13/2019. Please refer to SMC Fire annual financial report for Fire Department operating indicators starting from January 13, 2019.
(3) Due to shelter-in-place orders, all three San Mateo Public Library facilities were closed to the public from 3/16/20 through 6/30/20, and the golf course was completely closed from 3/16/20 through 5/5/20.

City of San Mateo
Operating Indicators by Function
Last Ten Fiscal Years

FISCAL YEAR
218

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Function 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Fire:

Fire stations 6 6 6 6 6 6 6 6 6 6 Golf course:

Municipal golf courses
1 1 1 1 1 1 1 1 1 1 Library:

Main Library
1 1 1 1 1 1 1 1 1 1 Branch Library 2 2 2 2 2 2 2 2 2 2 Parks and recreation:

Parks acreage
318 320 320 320 320 320 320 320 320 350 Parks 34 35 35 35 35 35 35 35 35 36 Swimming pools 2 2 2 2 2 2 2 2 2 2 Tennis courts 16 16 16 16 16 16 16 16 16 16 Community centers 6 6 6 6 6 6 6 6 6 6 Police:

Stations
1 1 1
1 1 1 1 1 1 1 Patrol units 35 36 37 37 37 40 40 40 40 40 Public works:

Street (miles)
204 204 204 204 204 204 204 204 204 204 Street lights 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 Traffic signals 84 84 86 87 87 87 90 90 90 90 Sewer:

Wastewater treatment plant
1 1 1 1 1 1 1 1 1 1 Sanitary sewers (miles) 236 236 260 260 260 260 260 260 260 260 Storm drains (miles) 140 140 148 148 148 148 148 148 148 148 Number of pump stations 37 35 37 37 37 37 37 37 37 37 Maximum daily treatment
capacity (mgd)

15.7 15.7

15.7 15.7 15.7 15.7 15.7 15.7 15.7 15.7 Source: Various City Departments
Capital Asset Statistics by Function
Last Ten Fiscal Years

FISCAL YEAR
City of San Mateo
219

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CITY OF SAN MATEO

CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 9 Section Name: NEW BUSINESS Account Number: 21-4678 File ID: 24-9415 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: Public Works Department
MEETING DATE: February 18, 2025
SUBJECT:

Enforcement - Citation Authority – Ordinance Introduction RECOMMENDATION:

Introduce an Ordinance to amend San Mateo Municipal Code Section 1.04.050(a), “Enforcement - Citation Authority” BACKGROUND:

San Mateo Municipal Code Section 1.04.050(a) provides authorization for specified employees to issue administrative citations in order to enforce various provisions of the Municipal Code. Section 1.04.050(a) requires an update to allow Public Works staff to enforce San Mateo Municipal Code Chapter 7.35, as well as other sections relating to solid waste, as required by state law and as further described below.

Approximately 20 million tons of organic debris goes into landfills in California every year. As this material decomposes, it releases methane (a potent greenhouse gas), accounting for 20 percent of the state’s methane gas emissions. In September 2016, SB 1383 (Lara) titled “California's Short-Lived Climate Pollutants Reduction Act” was passed and established statewide methane gas emission reduction targets. SB 1383 is the largest waste diversion legislation passed in the last thirty years and will reduce greenhouse gas emissions, improve soil conditions, reduce the impact of drought and wildfire, and increase the life of landfills.

Regulations to implement SB 1383 (California Code of Regulations, Title 14, Section 18981 et seq.) were adopted on November 3, 2020. SB 1383 regulations require each jurisdiction in California to provide organic collection services to all residents and businesses, establish an edible food recovery program, conduct public education and outreach regarding the mandates, purchase recycled and recovered organic products to create an organics circular economy, monitor compliance and conduct enforcement, maintain records, and report to CalRecycle.

SB 1383 regulations also required jurisdictions to establish enforceable requirements for organic waste generators, haulers, and other entities subject to City authority by January 1, 2022. More information regarding SB 1383 regulations can be found online at www.calrecycle.ca.gov/organics/slcp/.

On December 6, 2021, the City adopted San Mateo Municipal Code (SMMC) Chapter 7.35, known as the "Mandatory Organic Waste Disposal Reduction Ordinance” (Ordinance) in compliance with SB 1383. SB 1383 allows the City to designate a public or private entity to fulfill some of its SB 1383 regulatory responsibilities via contracts or written agreements. The City has executed agreements with both the County of San Mateo and South Bayside Waste Management Authority (SBWMA) to assist in implementation and compliance. The City also has a franchise agreement with Recology San Mateo County.

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Pursuant to SB 1383, and SMMC Section 7.35.130(h)-(i), an education period for non-compliance with the Ordinance was established from January 1, 2022 through December 31, 2023, and since then the City has been engaged with its partners Recology San Mateo County, Rethink Waste, and the County of San Mateo Sustainability Department to provide a robust public education and outreach campaign including on-site visits, bill inserts, phone calls, emails, and letters. This has been a successful campaign; however, many residential and commercial accounts are out of compliance.

Enforcement, which is mandated by the legislation, including the imposition of penalties for non-compliance, began on January 1, 2024.

In a review of the Ordinance, staff found that San Mateo Municipal Code Section 1.04.050(a) needed to update titles in the Positions column of the table and add the Waste Management Supervisor’s title to the table to give that position enforcement authority. The review also found that relevant staff did not have authority to enforce provisions of the Code that are naturally their responsibility. The following Chapters are proposed to be updated in this Ordinance: 7.32 Garbage,

7.33 Construction and Demolition Recycling Plans, and 7.35 Mandatory Organic Waste Disposal.

These changes will authorize appropriate Public Works staff to enforce for illegal dumping in the right of way, which is included in 7.32 Garbage, 7.33 Construction and Demolition Recycling Plans, and the enforcement provisions on organics and edible food generators in the 7.35 Mandatory Organic Waste Disposal Chapter.

In addition, the City experiences many incidences of abandoned shopping carts, and while Streets and Solid Waste are often required to pick up these carts, enforcement is handled by the Code Enforcement team in the Community Development Department. Solid Waste has been collaborating with Code Enforcement to transfer responsibility for this type of illegal dumping to Solid Waste, which is a more natural fit. The proposed amendments to Section 1.04.050(a)will add the ability for Solid Waste to enforce the provisions of Abandoned Shopping Carts 17.29.

Based on the above, staff recommends the City Council approve introduction of the proposed amendments to San Mateo Municipal Code Chapter 1.04.050(a) “Enforcement—Citation Authority.” BUDGET IMPACT:

There is no corresponding budget impact with the amendment of the Ordinance.

ENVIRONMENTAL DETERMINATION:

This City Council action to amend San Mateo Municipal Code Section 1.04.050(a) “Enforcement—Citation Authority,” is not a project subject to CEQA review, because it consists of an organizational or administrative activity that will not result in a direct or indirect physical changes in the environment. (CEQA Guidelines Section 15378(b)(5).)

NOTICE PROVIDED
All meeting noticing requirements were met.

ATTACHMENTS
Att 1 – Proposed Ordinance
Att 2 – Proposed Ordinance – Track Changes

STAFF CONTACT
Jack Johnson, Waste Management Supervisor
[email protected]
(650) 522-7346

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6 CITY OF SAN MATEO

PROPOSED ORDINANCE
Amending Section 1.04.050(a), “Enforcement—Citation Authority” of the San Mateo Municipal Code WHEREAS, SB 1383 “Short-Lived Climate Pollutants” was adopted by the State of California in 2016, implementing a statewide comprehensive strategy to reduce emissions of short-lived climate pollutants; and WHEREAS, the City of San Mateo adopted the “Mandatory Organic Waste Disposal Reduction Ordinance” (SB 1383 Ordinance) on December 6, 2021, as required by SB 1383; and WHEREAS, the SB 1383 Ordinance provided for enforcement to begin on January 1, 2024; and WHEREAS, San Mateo Municipal Code Section 1.04.050(a) authorizes persons who may issue administrative citations to enforce provisions of the San Mateo Municipal Code; and WHEREAS, the Public Works Regulatory Compliance Division is responsible for enforcing the SB 1383 Ordinance as well as other San Mateo Municipal Code Sections relating to recycling and solid waste requirements, but are not authorized pursuant to Section 1.04.050(a); and WHEREAS, amendments to the San Mateo Municipal Section 1.04.050(a) are necessary to reflect changes in position titles and to authorize appropriate persons to enforce provisions of San Mateo Municipal Code relating to the SB 1383 Ordinance, recycling, and solid waste requirements.

NOW, THEREFORE, THE COUNCIL OF THE CITY OF SAN MATEO ORDAINS AS FOLLOWS:

Section 1. Subsection (a) of Section 1.04.050 of the San Mateo Municipal Code is amended as follows:

1.04.050 Enforcement – Citation Authority.
(a) Persons employed in the following positions, or their designees, may enforce the provisions of the San Mateo Municipal Code and regulations adopted pursuant thereto by the issuance of administrative citations under Chapter 1.10 of this code.

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6 Section 2. Environmental Determination. In accordance with California Environmental Quality Act (CEQA) Guidelines, Section 15378(b)(5), this action to amend San Mateo Municipal Code Section 1.04.050(a) updating the authority of persons to enforce various sections of the San Mateo Municipal Code is an organizational or administrative activity that will not result in direct or indirect physical changes in the environment .

Section 3. Severability. In the event any section, clause or provision of this ordinance shall be determined invalid or unconstitutional, such section, clause or provision shall be deemed severable and all other sections or portions hereof shall remain in full force and effect.

Section 4. Publication. This Ordinance shall be published in summary in a newspaper of general circulation, posted in the City Clerk's Office, and posted on the City's website, all in accord with Section 2.15 of the City Charter.

Section 5. Legislative History and Effective Date. This ordinance was introduced on Clerk to complete., and adopted on Clerk to complete., and shall be effective 30 days after its adoption.

Position Code Title, Chapter, or Section
Community Development Director, Neighborhood
Improvement and Housing Manager, Sr. Code
Enforcement Officer, Code Enforcement Officer
Titles 7, 8, 10, 23, 25, 27, Chapters 5.06, 5.64, 5.66, Sections 11.40.110, 17.08.010, 17.08.020, 17.08.160,

17.08.170, 17.08.180(a), 17.20.010, 17.29.040
Building Official, Deputy Building Official, Building
Inspector
Titles 7, 10, 23, 25, 27
Fire Chief, Battalion Chief, Fire Marshal, Deputy Fire
Marshal, Fire Inspector, Fire Prevention Inspector
Titles 7, 10, 23, 25, 27
Director of Public Works, Deputy Director of Public
Works, Construction Inspector, Senior Engineer,
Regulatory Compliance Manager, Environmental
Programs Coordinator, Environmental Compliance
Inspector, Public Works Supervisor, Solid Waste and
Recycling Programs Coordinator, Waste Management
Supervisor
Chapters 7.33, 7.35, 7.38, 7.39, 17.08, 17.29, 25.04,

25.08 Harbor Patrol Officer, Park Ranger, Senior Park
Ranger, Director of Parks and Recreation
Chapter 13.20, Sections 13.05.010-13.05.030,

13.25.015
Parks and Landscape Maintenance Manager, Tree
Maintenance Specialist, Managing Arborist, Director
of Parks and Recreation
Chapter 13.40
Community Service Officers, Parking Enforcement
Representative
Titles 11, 17

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1.04.050 ENFORCEMENT—CITATION AUTHORITY.
(a) Persons employed in the following positions, or their designees, may enforce the provisions of the San Mateo Municipal Code and regulations adopted pursuant thereto by the issuance of administrative citations under Chapter 1.10 of this code.

Position Code Title, Chapter, or Section
Community Development Director, Neighborhood
Improvement and Housing Manager, Sr. Code
Enforcement Officer, Code Enforcement Officer
Titles 7, 8, 10, 23, 25, 27, Chapters 5.06, 5.64,

5.66, Sections 11.40.110, 17.08.010, 17.08.020,

17.08.160, 17.08.170, 17.08.180(a), 17.20.010,

17.29.040
Building Official, Deputy Building Official, Building
Inspector
Titles 7, 10, 23, 25, 27
Fire Chief, Battalion Chief, Fire Marshal, Deputy
Fire Marshal, Fire Inspector, Fire Prevention
Inspector
Titles 7, 10, 23, 25, 27
Director of Public Works, Deputy Director of
Public Works, Construction Inspector, Senior
Engineer, Regulatory Compliance Manager,
Environmental Programs Coordinator,
Environmental Compliance Inspector, Public
Works Supervisor, Solid Waste and Recycling
Programs Coordinator, Waste Management
SupervisorDirector of Public Works, Deputy
Director of Public Works, Construction Inspector,
Senior Engineer, Environmental Programs
Manager, Source Control Inspector, Public Works
Supervisor, Waste/Recycling Program
Coordinator
Chapters 7.32, 7.33, 7.35, 7.38, 7.39,

17.08,17.29, 25.04, 25.08
Harbor Patrol Officer, Park Ranger, Senior Park
Ranger, Director of Parks and Recreation
Chapter 13.20, Sections 13.05.010-13.05.030,

13.25.015
Parks and Landscape Maintenance Manager, Tree
Maintenance Specialist, Managing Arborist,
Director of Parks and Recreation
Chapter 13.40
Community Service Officers, Parking Enforcement
Representative
Titles 11, 17
(b) Nothing in this chapter shall diminish or otherwise modify the authority of persons who are empowered to enforce the San Mateo Municipal Code because of their status as peace officers or because of other authorizing status.

Commented [JJ1]: 7.32 Garbage

7.33 Construction and Demolition Recycling Plans

7.34 (unused)

7.35 Mandatory Organic Waste Disposal

17.29 Shopping Cart Removal, Impoundment, Disposal

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CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 10 Section Name: NEW BUSINESS Account Number: 10-1511 File ID: 25-9606 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: City Clerk's Office
MEETING DATE: February 18, 2025
SUBJECT:

Campaign Contribution Limits – Review UPDATED: February 14, 2025 RECOMMENDATION:

Review and provide direction to staff on whether the City's campaign contribution limits and campaign rules should be amended, or if no changes should be made; and receive an update on the City's Campaign Finance Dashboard.

BACKGROUND:

Purpose and Intent of Campaign Finance Regulations:

In 2005, the City Council added Chapter 2.80 to the San Mateo Municipal Code entitled “Contributions and Loans to City Candidate Campaigns.” San Mateo's campaign finance regulations aim to uphold election integrity and transparency, ensuring fair participation. Rising campaign costs have raised concerns about the disproportionate influence of special interests in local elections. To address these concerns, the City established contribution limits to enhance public trust, prevent undue influence, and encourage broader citizen participation in campaign financing.

Chapter 2.80 (Attachment 1) originally established limits on the amount of the contributions from a single source that may be made to City Council candidate campaigns to $250 by an individual and $500 by an organization, as well as limiting the amount a candidate can loan to their own campaign to $15,000. In 2017, the City Council amended the limits by increasing the amount an individual can give to $500 and an organization to $1,000. In 2012, section 2.80.070 was amended to read:
“Penalties. Any person who violates the provisions of this Chapter is guilty of a public offense.” Campaign Activity Analysis (2017-2024):

Section 2.80.080 requires the City Council to conduct a post-election review within three months of election certification.

This review assesses the appropriateness of the chapter’s provisions, including contribution and loan limits outlined in Sections 2.80.030 and 2.80.040. The City Council certified the results of the November 5, 2024 election with Resolution 110 (2024) on December 9, 2024. See Table 1 for a comparison of campaign funding between 2017 and 2024 below:

At-Large Elections By-District
2017 2020 2022 2024
Number of Candidates in Contest 7 3 7 3
Contributions - Total Raised * $191,910 $263,562 $199,036 $146,766.50 Contributions - Largest Total Amount ** $56,332 $118,759 $76,282 $82,800.50 Contributions - Smallest Total Amount ** $0 $69,876 $1,849 $20,909

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At-Large Elections By-District
2017 2020 2022 2024
Loan - Largest Amount ** $6,500 $0 $1,500 $5,000
Independent Expenditures – Total * $79,710 $74,036 $35,915 $7,467.76 Independent Expenditures - Largest Amount ** $70,468 $30,570 $11,233 $7,467.76 Independent Expenditures - Smallest Amount ** $9,242 $14,767 $4,154 $0 In-Kind Donations – Total * $3,185 $13,951 $1,207 $35
In-Kind Donations - Largest Amount** $1,485 $6,890 $927 $35 In-Kind Donation - Smallest Amount** $500 $400 $140 $0
Average Raised per candidate $27,416 $87,854 $28,434 $48,922.17 Average Independent Expenditure per candidate $11,387 $24,679 $5,131 $2,489.25 Average In-Kind per candidate $455 $4,650 $172 $11.67
*Total of all candidates. **By a single candidate.

Further details of the individual campaign reporting can be found on the City’s website or by contacting the City Clerk’s Office.

Statewide Analysis:

All California municipalities have some form of campaign controls in place, due to defaults set in place by state law. As of January 1, 2021, a state campaign contribution limit applies by default to city and county candidates, when the city or county has not already enacted a law that addresses a local contribution limit on such candidates. The current state default limits per contributor are as follows:

Candidate or Officeholder Person (individual,
business entity,
committee/PAC)
Small
Contributor
Committee
Political
Party
City and County Candidates subject to Section 85301 (d) $5,900 $5,900 $5,900 Senate and Assembly $5,900 $11,800 No Limit
CalPERS/CalSTRS $5,900 $11,800 No Limit
Lt. Governor, Secretary of State, Attorney General,
Treasurer, Controller, Supt. Of Public Instruction,
Insurance Commissioners, and Board of Equalization
$9,800 $19,600 No Limit
Governor $39,200 $39,200 No Limit
Common Cause, a nonpartisan 501(c)(4) nonprofit, publishes the California Municipal Campaign Finance Index (MCFI), with its most recent update in 2024. The report provides a comprehensive analysis of municipal campaign finance regulations across the state. According to MCFI, as of 2022, 124 of California’s 482 cities—representing 44% of the state’s population—had self-imposed contribution limits lower than the AB 571 limit, which was $4,900 at the time. Among these 124 cities, which have an average population of approximately 140,000, the average contribution limit was $711.

Including cities with the default AB 571 contribution limits and those with self-imposed limits, 82% of these cities adjust contribution limits to follow changes in the Consumer Price Index (CPI). San Mateo does not pin contribution limits to CPI changes. As of 2022, there were 40 cities or 8% of California cities with limits on the amount of money a candidate can loan to their campaign. San Mateo limits candidate loans to $15,000.

Using MCFI data, the following section outlines 8 key findings on five-member by-district City Councils, including an overview of their existing campaign finance regulations:
▪Finding 1. 22 (81.5%) of the 27 cities have individual donor limits ▪Finding 2. $1,233.18 is the average self-imposed donor limit among the 22 cities with individual donor limits ▪Finding 3. For cities with a comparable population size to San Mateo (within 20% of its population), the average

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donor limit per individual is $768.
▪Finding 4. 2 (7.4%) of the 27 cities, including San Mateo, have different contributions based on the type of giver (i.e. individual or organization).
▪Finding 5. 12 (44.4%) of cities adjust limits to inflation. ▪Finding 6. 9 (33.3%) of cities limit loans on candidate campaigns. ▪Finding 7. 3 (11.1%) of the cities have voluntary expenditure limits. ▪Finding 8. None of the 27 cities have public financing.

City Population Public
Financing
Donor
Limits
Different
limits
based on
the giver
(e.g.,
political
committee
vs
individual)
Limits
Adjust to
Inflation
or
Deflation
Limits
Apply to
Multiple
Committee
Types
Limits on
Candidate
Loans to
his/her
Campaign
Voluntary
Expenditure
Limits
Alhambra 82,868 No $250 No Yes Yes Yes No
Arcadia 56,681 No No No No No No Yes
Buena Park 84,034 No $4,000 No No No Yes No
Burlingame 31,386 No $350 No Yes No Yes No
Cathedral City 51,493 No $2,500 No Yes No No No
Claremont 37,266 No $250 No No No No No
Concord 125,410 No $1,000 Yes No Yes No No
Dana Point 33,107 No $880 No Yes No No No
Davis 66,850 No $150 No No No No No
Folsom 80,454 No $150 No No Yes Yes* No
Hesperia 99,818 No $500 No No No No No
La Mirada 48,008 No No No No No No Yes
Menlo Park 33,780 No No No No No No No
Montebello 62,640 No $5,000 No Yes No Yes* No
Murrieta 110,949 No $1,310 No Yes No No No
National City 56,173 No $1,000 No Yes No No No
Novato 53,225 No $750 No Yes No Yes No
Pacifica 38,640 No No No No No No No
Rohnert Park 44,390 No $500 No No No No No
Roseville 147,773 No $500 No Yes No No No
San Juan Capistrano 35,196 No $610 No Yes No Yes No
San Mateo 105,661 No $500 Yes No No Yes Yes
Seal Beach 25,242 No $500 No No Yes No No
South Pasadena 26,943 No $1,000 No No No No No
Victorville 134,810 No $4,900 No Yes No Yes No
West Covina 109,501 No $530 No Yes No No No
Woodland 61,032 No No No No No No No
Voluntary Expenditure Limits:

San Mateo’s Voluntary Expenditure Limits program was introduced in 2024 to provide City Council candidates with the option to cap their campaign spending in exchange for public recognition on the City’s website, digital newsletter, and in a newspaper of general circulation. The initial spending limit was set at $2.50 per resident in each electoral district, using the 2020 U.S. Census population data to determine the maximum allowable expenditures. Certain expenses, such as filing fees, legal costs, and post-election events, are excluded from this limit.

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For the 2024 election, two of the three candidates agreed to the spending cap of $54,000 for District 2 and $49,700 for District 4.

As outlined in the ordinance, these limits will be reviewed and adjusted for inflation on January 1, 2026, based on changes in the Consumer Price Index (CPI) for the San Francisco Bay Area. The updated expenditure ceilings will be published by the City Clerk no later than February 1, 2026, ensuring the program remains reflective of economic conditions while continuing to promote fair and transparent elections.

Campaign Dashboard
In an effort to enhance public transparency into candidate campaign finances, the City Council directed staff in 2021 to develop a Candidate Finance Dashboard as part of its review of Municipal Code 2.80, “Contributions and Loans to City Candidate Campaigns.” The City Clerk’s Office led an interdepartmental effort to create the Campaign Finance Dashboard, which was first launched for the November 8, 2022, General Election. To date, it remains the only campaign disclosure dashboard available within San Mateo County, providing voters with interactive visualizations of campaign finance activity.

For the November 2024 election, the Campaign Finance Dashboard has been updated to reflect the latest candidate finance reports, offering voters a clear and accessible overview of financial activity. The dashboard details the amounts received and spent by candidates and includes user-friendly breakdowns of contributions, loans, debts, liabilities, and expenses. This tool continues to support transparency and informed decision-making for San Mateo voters.

The Campaign Finance Dashboard also provides users with a clear breakdown of contributions by contributor type, helping voters understand the sources of campaign funding. Candidates may receive contributions from individuals, committees,

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businesses, self-contributions, and other entities, and the dashboard visually represents these proportions for easy review.

For the November 2024 election, this feature has been updated with the latest campaign finance data, ensuring that users can explore the most recent contribution patterns for each candidate. By offering this level of transparency, the dashboard continues to support informed voter engagement in San Mateo’s elections.

The campaign dashboard also provides users with the ability to see the proportion of contributions provided to candidates by range of dollar amount, including small (under $100), medium ($100 to $499), and large ($500) contributors.

A frequent question regarding campaign contributions is where the funding originates. To address this, the Campaign Finance Dashboard includes bar chart and mapping visualizations that categorize contributions based on the donor’s location. Contributions are grouped into five categories: within the City of San Mateo, within San Mateo County but outside City limits, within California but outside San Mateo County, outside California, and unknown locations.

For the November 2024 election, this feature has been updated with the latest contributor location data, allowing users to analyze where candidates are receiving financial support. These visual tools help voters better understand the geographic distribution of campaign funding and enhance transparency in local elections.

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For the first time, the Campaign Finance Dashboard now includes ballot measure campaign data, providing voters with greater insight into funding for local measures. Similar to candidate contributions, this feature offers bar chart and mapping visualizations that categorize contributions by donor location, including within the City of San Mateo, within San Mateo County but outside City limits, within California but outside San Mateo County, outside California, and unknown locations. With this update for the November 2024 election, users can now track both candidate and ballot measure contributions, further enhancing transparency and public understanding of campaign financing in San Mateo. Staff intend to further enhance the ballot measure campaign data to include independent expenditures.

Council Direction Requested:

1. Alignment of Contribution Limits for Individuals and Organizations:

Currently, San Mateo sets a $500 contribution limit for individuals and a $1,000 limit for organizations. To ensure consistency, staff recommend aligning these limits.

2. Adjustment of Contribution:

Research indicates that San Mateo’s contribution limits are lower than those of comparable cities (including, for example, Redwood City which has a $1,000 contribution limit). Staff requests input on whether the individual contribution limit should be increased from $500 to $750, $1,000, or another amount to remain consistent with peer jurisdictions. These limits were last adjusted in 2017 to $500, which at that time is equivalent to approximately $650 today.

3. Review Process for Contribution Limits:

Currently, contribution limits are reviewed only after each election. Staff seeks direction on whether to continue this approach or adopt an automatic adjustment based on the Consumer Price Index (CPI) for more consistent updates.

General Feedback:

4. Voluntary Expenditure Limits:

Staff will proceed with the next scheduled adjustment to the Voluntary Expenditure Limits in 2026, as outlined in the ordinance. However, staff welcomes feedback on the initial rollout of the program to assess its effectiveness and consider any potential refinements.

5. Campaign Finance Transparency:

Staff have successfully operationalized the Campaign Finance Dashboard and has received positive feedback from California Common Cause and other agencies. Moving forward, staff plan to enhance the tool further, including increasing public awareness of the dashboard. Staff welcomes input and feedback on its functionality and potential improvements in campaign finance transparency.

BUDGET IMPACT:

There is no budgetary impact associated with this post-election review.

ENVIRONMENTAL DETERMINATION:

This review is not a project subject to CEQA, because it is an organizational or administrative activity that will not result in direct or indirect physical changes in the environment. (CEQA Guidelines Section 15378(b)(5).)

NOTICE PROVIDED
All meeting noticing requirements were met.

ATTACHMENTS
Att 1 - Municipal Code 2.80

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STAFF CONTACT
Martin McTaggart, City Clerk
[email protected]
(650) 522-7044

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344 of 356

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346 of 356

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347 of 356

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CITY OF SAN MATEO
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CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 11 Section Name: NEW BUSINESS Account Number: 10-2031 File ID: 25-9640 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: Finance Department
MEETING DATE: February 18, 2025
SUBJECT:
2024-25 Mid-Year Update and Budget Amendments – Adoption RECOMMENDATION:

Adopt a Resolution amending the FY 2024-25 General Fund operating budget to reflect the recommended mid-year budget adjustments and receive the FY 2024-25 mid-year budget update.

BACKGROUND:

This agenda report provides a financial update on the City’s major funds: the General Fund and the Sewer Fund. It summarizes the City’s mid-year fiscal status by analyzing anticipated revenues and expenditures based on data through December 2024 and comparing the projections to the FY 2024-25 budget.

The mid-year projections incorporate FY 2023-24 results, year-to-date actuals, and new data which were not available when the budget was originally developed. The focus of this report is on the General Fund, the City's primary operating fund, which accounts for major tax revenues and funds essential city services.

GENERAL FUND
General Fund Revenues
With over half of the fiscal year’s actual transactions analyzed, the City’s General Fund revenues are now projected to exceed the 2024-25 budget by $4.1 million. The adopted budget projected total revenues of $169.8 million. Based on year- to-date results through December 2024, total revenues are now expected to reach $173.9 million.

The favorable budget variance is primarily due to higher-than-expected real property transfer tax, partially offset by a decline in sales tax projection. The following analysis provides insight into the primary contributing factors to the overall revenue forecast.

General Fund Revenues
(in millions)
2024-25
Adopted
Budget
2024-25
Mid-Year
Projection
Change in $ Change in %
Property Tax 84.0$ 84.0$ -$ 0% Sales Tax 30.1 27.9 (2.2) -7%
Real Property Transfer Tax 8.0 14.0 6.0 75%
TOT 4.0 4.0 - 0%
Interest Earnings 4.2 5.2 1.0 24%
All Other 39.5 38.8 (0.7) -2%
TOTAL 169.8$ 173.9$ 4.1$ 2%

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PROPERTY TAX - $84.0M ADOPTED | $84.0M PROJECTED
Property tax is the largest and most stable tax revenue and is expected to meet the $84.0 million budget projection for FY 2024-25. However, two factors could impact future property tax growth:

High-Interest Rates - Over the past 13 years, the City’s real property assessed values (AV) have grown annually with an average 6.7 percent. For FY 2024-25, projected AV growth is 4.8 percent, indicating a slowdown due to high interest rates.

County Assessor’s data confirmed that secured property tax growth will align with the AV growth. However, if high interest rates persist, future property tax growth may be constraint.

Uncertainty Around VLF shortfalls - Property Tax In-Lieu of Vehicle License Fee (VLF) is a major component of the City’s property tax revenue. The County’s VLF shortfall is growing as more school districts shift from non-basic-aid to basic-aid status. This issue created two major challenges:
•No reliable funding for VLF shortfalls – VLF is funded by ERAF and property tax from non-basic-aid school districts. Of the 23 school districts in the San Mateo County, only 5 school districts remain as non-basic-aid schools. This has led to persistent VLF shortfalls that require the County to file an annual claim with the State to backfill the prior fiscal year’s VLF shortfalls, resulting in a two-year delay in the VLF shortfall payments. The main concern is whether the State will backfill the VLF shortfall. If the State refuses to pay its VLF shortfall obligations, currently there is no other funding source available to the County and cities to fill the funding gap. •VLF shortfalls continue to grow - County-wide VLF shortfalls have grown over the years, from $32.4 million in FY 2021-22 to $120.8 million in FY 2024-25. As a result, the City’s share of the County-Wide VLF shortfalls also grew from $1.9 million in FY 2021-22 to $6.6 million in FY 2023-24 and $7.0 million in FY 2024-25.

Fiscal Year County-Wide VFL Shortfall City’s VLF Shortfall City received VLF shortfall (2-Year Delay) FY 2021-22 $32.4 million $1.9 million $2.0 million (FY 2019-20 VFL shortfall) FY 2022-23 $70.0 million $4.1 million $5.7 million (FY 2020-21 VLF shortfall) FY 2023-24 $114.4 million* $6.6 million* $1.9 million (FY 2021-22 VLF shortfall) FY 2024-25 $120.8 million* $7.0 million* $4.1 million (FY 2022-23 VLF shortfall) Source of Information: San Mateo County / City of San Mateo Note *: The State has not yet committed to backfill the FY 2023-24 and 2024-25 VLF shortfalls.

The VLF shortfall is expected to grow as the remaining five school districts transition to basic-aid status. A task force, including City Managers from cities in the County, is working to advocate for a long-term solution to address this issue.

Staff will continue to monitor developments and adjust our budget strategies accordingly.

SALES TAX - $30.1M ADOPTED | $27.9 M PROJECTED
Sales tax, the second largest tax revenue source for the General Fund, is particularly susceptible to economic cycles. At mid-year, sales tax revenue is projected to remain flat at $27.9 million compared to the previous year. At this point, sales tax is projecting to miss the FY 2024-25 budget estimate by $2.2 million.

San Mateo’s sales tax base relies heavily on General Consumer Goods (GCG), Restaurants, and Autos. According to the City’s sales tax consultant, HdL, the following trends have contributed to the decline in sales tax revenue: sales tax from GCG and autos has declined since FY 2023-24, and San Mateo’s decline in GCG is consistent with the County and State trends. Neighboring cities also reported similar trends. In a high-inflation and high-interest rates environment, electronic- appliance, specialty and home furnishing stores were hurt the most when consumers refrained from spending on discretionary items. Autos, especially high-end auto dealerships, have been hindered due to shifting consumer behaviors and persisted high interest rates. Sales tax from fuel and service stations also declined due to lower gas prices and reduced gas consumption. In addition, as online sales tax is first accumulated at the County Pool and then allocated to cities based on local sale tax amounts, declines in sales tax also reduced the City’s allocation from the County Pool.

Staff will continue to monitor the sales tax trends and adjust the forecasts as needed.

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REAL PROPERTY TRANSFER TAX - $8.0M ADOPTED | $14.0M PROJECTED Real property transfer tax (RPTT), the third largest tax revenue for the General Fund, is highly volatile and subject to economic cycles. At mid-year, regular RPTT (0.5 percent) is projected to remain at $8 million, in line with the budget projection. However, Measure CC RPTT, an additional 1 percent RPTT applies to properties sold or transferred with a value of $10 million or more, is outperforming original expectations. At mid-year, the City has already received $4.8 million Measure CC RPTT revenue, and expected to reach $6 million by year end. Total RPTT is projected to be $14.0 million for FY 2024-25.

OTHER GENERAL FUND REVENUES
Other General Fund revenues are on track to stay within budget, except the following:
•Business tax is anticipated to be $0.5 million lower than original budget estimate due to anticipated tax apportionment adjustments.
•Golf fees will see a $0.2 million decrease in FY 2024-25 due to temporary closure of the PAR 3 restaurant from mid-October 2024 until the restaurant reopen in Fall 2025, resulting in no rental income during this period. •Investment earnings are projected to outperform the original budget by $1.0 million due to favorable investment yields in a high-interest rate market.

In summary, VLF shortfalls remain a long-term financial concern; sales tax revenue is underperforming, requiring a $2.2 million budget adjustment; and Measure CC RPTT is outperforming expectations. Overall, General Fund revenues exhibit resilience and are projected to exceed the original budget by $4.1 million in FY 2024-25. Staff recommend increasing the General Fund revenue budget by $4.1 million to align with the mid-year projections.

General Fund Expenditures
The adopted 2024-25 budget included $180.4 million in General Fund total expenditures (including transfers out). Since July 1st, 2024, several budget appropriations have been approved by Council (Pools and Par 3). As such, the current budget stands at $183.9 million. Based on December 2024 year-to-date transactions, total expenditures are projected to be $180.3 million, a favorable budget variance of $4.0 million. The majority of the favorable budget variance stems from vacancy savings, which is spread throughout all departments.

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Since local government expenditure budgets (appropriations) serve as the legal level of budgetary control, it is common that some level of savings will be realized in any fiscal year. Although departmental budgets were analyzed for both underfunded operating needs and anticipated budgetary savings, the focus was on ensuring budget adequacy for General Fund operations for the remainder of the fiscal year.

As such, based on the mid-year review, the following General Fund operating budget adjustments are recommended:
•City Clerk’s Office – Increase election budget by $137,000.

The County’s Elections Office has informed the City that the November 2024 election costs will range between $281,000 and $337,200, exceeding the current budget of $225,000. This original budget included $200,000 for County election costs and $25,000 for anticipated translation, legal advertising, and mailing expenses related to election. Staff proposed to increase the General Fund operating budget by $137,000 to ensure adequate budget for election-related costs.
•Public Works: Re-appropriate $224,000 for the wet weather preparation. $224,000 in unspent funds allocated for wet weather preparation in FY 2023-24. These funds were not utilized due to project delays: Marina Lagoon Diesel Engines repairs - overhaul services were delayed due to the scheduling lead times, and Marina Lagoon’s new rectifier and upgrade to new programming platform – procurement was delayed due to insufficient staff resources. The proposed budget amendment, if approved, will carry forward $224,000 unspent funding to FY 2024-25 to ensure sufficient funding for Public Works to complete the preparation works.

Comparison with Prior Estimates
With the mid-year updates, the General Fund is projected to generate $173.9 million in total revenues and incur $180.3 million in total expenditures (including transfers out), resulting in a $6.4 million deficit for FY 2024-25.

Due to budget savings from operating expenses and improved revenue projection in certain categories, the projected deficit is smaller than the $10.6 million deficit in the adopted budget and the $14.1 million deficit in the current budget.

However, the City faced a $5 million budget shortfall last year, and at mid-year, it is projecting another $6.4 million deficit.

Given the ongoing shortfall, staff are working on a financial sustainability plan to address the structure deficit issue.

Gneral Fund Expenditures
(in millions)
2024-25
Adopted
Budget
2024-25
Current
Budget
2024-25
Mid-Year
Projection
Change in $ Change in %
Salaries and Wages 56.1$ 56.6$ 55.6$ (1.0)$ -1.8% Benefits 23.5 23.5 23.0 (0.5) -2.1%
Pension UAL 13.0 13.0 13.0 - 0.0%
Non-Personnel Operating 40.1 40.6 38.5 (2.1) -5.2%
SMC Fire and legacy cost 36.1 36.1 36.1 - 0.0%
Transfer Out 11.6 14.1 14.1 - 0.0%
TOTAL 180.4$ 183.9$ 180.3$ (3.6)$ -2.0% General Fund
(in millions)
2024-25
Adopted
Budget
2024-25
Current
Budget
2024-25
Mid-Year
Projection
Revenues 169.8$ 169.8$ 173.9$
Expenditures (including
transfers out) 180.4 183.9 180.3
Deficit (10.6)$ (14.1)$ (6.4)$

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General Fund Balance
The General Fund beginning balance was $118.0 million (per audited 2023-24 financial report). The projected General Fund ending balance as of June 30, 2025 is $111.6 million.

A General Fund Reserve Policy Study Session is scheduled for March 2025 to seek Council direction on right-sizing the General Fund reserves and establishing a policy framework for General Fund reserve management, usage, and replenishment, to ensure the City’s financial stability and sustainability.

SEWER FUND
The Sewer Fund has maintained sufficient liquidity to support ongoing operations and critical capital improvement projects. The approved 3 percent annual sewer rate increase (effective FY 2023-24 through FY 2027-28) provide necessary funding to complete the construction of the new wastewater treatment plant, replacing the City’s aging treatment facility, improve the City’s sewer collection system to address regulatory requirements and minimize potential for sanitary sewer overflows, fund ongoing rehabilitation of aging sewer pipelines, and support ongoing operations of the City’s sewer enterprise.

For FY 2024-25, the Sewer Fund budget includes $91.9 million in total revenues, $57.9 million in total expenses, and $28.1 million of new funding added to the Sewer Fund’s capital budget for capital improvement projects (CIP).

Through mid-year review, Sewer Fund revenues are expected to be within budget assumptions, with exception of investment earnings, which are projected to exceed budget estimates. As a result, total Sewer Fund revenues are now projected to be $95.8 million for FY 2024-25. Operating expenses are estimated at $55 million, lower than the current budget largely due to estimated vacancy savings. CIP spending is anticipated to increase as the City nears completion of the Wastewater Treatment Plan expansion project.

BUDGET IMPACT:

If approved, the proposed budget amendments will increase the General Fund revenue budget by $4.1 million and increase the General Fund operating budget by $361,000, with $137,000 to the City Clerk’s Office for election costs and $224,000 to Public Works for wet weather preparation.

ENVIRONMENTAL DETERMINATION:

This mid-year budget update is not a project subject to CEQA, because it is a government fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. (CEQA Guidelines Section 15378(b)(4).)

NOTICE PROVIDED
All meeting noticing requirements were met.

ATTACHMENTS
Att 1 – Proposed Resolution for FY 2024-25 Mid-Year Budget Amendments

STAFF CONTACT
Karen Huang, Finance Director
[email protected]
(650) 522-7110

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CITY OF SAN MATEO
RESOLUTION NO. ____ (2025)

APPROVING MID-YEAR BUDGET ADJUSTMENTS FOR THE GENERAL FUND FOR FISCAL YEAR 2024-25
WHEREAS, the City Council of the City of San Mateo adopted the Fiscal Year (FY) 2024-25 budget, which includes General Fund revenue and expenditure appropriations; and WHEREAS, based on a mid-year review of General Fund financial activities through December 2024, General Fund revenues are now projected to total $173.9 million, exceeding budget estimates by $4.1 million, primarily due to higher-than-expected Real Property Transfer Tax (RPTT) revenue; and WHEREAS, total General Fund expenditures are projected to be $180.3 million, resulting in a favorable budget variance, primarily due to vacancy savings across departments; and WHEREAS, the City Clerk’s Office requests an increase of $137,000 in its operating budget to cover election expenses; and
WHEREAS, the Public Works Department requests a re-appropriation of $224,000 in unspent FY 2023-24 funds for wet weather preparation.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN MATEO, CALIFORNIA HEREBY FINDS AND RESOLVES that:

1. This City Council action is not subject to CEQA review because it is a government fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. (CEQA Guidelines Section 15378(b)(4)).

2. Budget amendments to the General Fund revenues are approved as follows:
a) Increase real property transfer tax revenue budget by $6.0 million; b) Decrease sales tax revenue budget by $2.2 million;
c) Increase investment earning budget by $1.0 million;
d) Decrease business tax revenue budget by $0.5 million; and e) Decrease golf revenue budget by $0.2 million.

3. Appropriations to the General Fund operating budget are approved as follows:
a) Increase City Clerk operating budget by $137,000 for election costs; and b) Increase Public Works operating budget by $224,000 for wet weather preparations.

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