The largest component of general revenue is property taxes at $21.9 million, making up 24.5% of total revenue in the governmental funds. This is consistent with the nature and purpose of governmental funds, particularly in the General Fund, where programs are largely supported by general taxes. The highest tax revenues received by the General Fund include property tax, sales tax, and franchise fees.
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Packet Pg. 252 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 10 City of San Ramon
Management’s Discussion and Analysis
June 30, 2021
The chart below presents revenue by source for Governmental Activities.
Program Revenues
53%
Intergovt.
Investment Income 1%
1%
Miscellaneous
1%
Property transfer tax
1%
Transient occupancy
1%
Franchise tax
6%
Sales tax
12%
Property tax
24%
Revenue by Source
Expense Highlights
Functional expenses for the year totaled $119.3 million, an increase $4.2 million from the prior year. The following are changes by function/program:
• General Government increased $1.0 million.
• Community Development increased $0.7 million.
• San Ramon Housing increased $0.5 million.
• Police Services decreased $1.7 million.
• Public Works increased $3.2 million.
• Parks and Community Services increased $0.6 million.
• Interest expense decreased $0.1 million.
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Packet Pg. 253 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 11 City of San Ramon
Management’s Discussion and Analysis
June 30, 2021
Public Works represents $66.7 million (56%) of the total. A large portion of Public Works costs are funded from general revenues, primarily taxes and restricted revenues, such as special assessments and operating contributions. The chart below presents expenses by source of Governmental Activities.
Public Works
56%
San Ramon Housing
1%
Interest
2%
Community
Development
4%
General Government
7%
Parks and Community
Services
7%
Police Services
23%
Expenses by Functions/Programs
Fund Financial Analysis
The City uses fund accounting to segregate accounts for specific activities or objectives, including demonstrating finance-related legal compliance.
Governmental funds – The focus of the City’s governmental funds is to provide information on near- term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City’s financing requirements. In particular, the unassigned fund balance may serve as a useful measure of a government’s net resources available for discretionary use as they represent the portion of fund balance which has not yet been limited to use for a particular purpose by either an external party, the City itself, or a group or individual that has been delegated authority by assigning resources for a particular purpose by the City Council.
10.4.a
Packet Pg. 254 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 12 City of San Ramon
Management’s Discussion and Analysis
June 30, 2021
As of the end of the current fiscal year, the City’s governmental funds reported a combined ending fund balance of $97.1 million, a decrease of $12.5 million from the prior fiscal year primarily due to funds spent on Capital Improvement Projects. This total includes a General Fund balance of $19.2 million. The General Fund balance increased $3.9 million due to savings from position vacancies.
Other major funds and non-major funds significant balance changes are noted below:
• The COP #13 fund balance decreased $14.4 million reflecting the expenditures for Capital Improvement Projects funded by 2019 Certificate of Participation issued in the prior year. • The Capital Improvement fund balance increased $8.1 million in funding for Capital Improvement Projects that extend over multiple years.
• The SCCJEPA fund balance decreased $2.2 million reflecting funds spent on Capital Improvement projects.
• The Street Maintenance and Improvement fund balance decreased $0.5 million reflecting funds spent on street improvement projects.
• The San Ramon Housing fund balance decreased $0.7 million reflecting funds spent on Housing programs.
• The COP #12 fund balance decreased by $9.0 million reflecting payments made for principal and interest and reserve funds transferred to the General fund.
• GHAD Dougherty Valley fund balance increased $1.1 million reflecting an increase in assessment revenue received.
Proprietary funds – The City’s proprietary fundsstatements provide the same type ofinformation found in the Government-Wide Financial Statements, but in more detail.
At the end of the fiscal year, total net position was $13.3 million. Of that, the unrestricted net position was $9.9 million and the net investment in capital assets was $3.4 million. Net position of the proprietary funds decreased by $0.6 million reflecting funds spent on Capital Improvement Projects.
General Fund Budgetary Highlights
The General Fund is the main operating fund of the City. At end of the fiscal year, fund balance of the General Fund was $19.2 million, compared to $15.3 million in the prior year. The fund balance has been classified as $0.1 million nonspendable and $19.1 million as unassigned.
Revenues
The General Fund revenues are primarily derived from taxes, charges for services, license and permits, and miscellaneous revenue.
10.4.a
Packet Pg. 255 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 13 City of San Ramon
Management’s Discussion and Analysis
June 30, 2021
General Fund Revenues totaled $47.2 million at year-end, which were $5.3 million lower than the final budgeted revenues of $52.5 million (See Table 3).
Table 3
SUMMARY OF GENERAL FUND REVENUES
BUDGET AND ACTUAL
FISCAL YEAR ENDED JUNE 30, 2021
Actual Variance from
Revenues Original Final Amount Final Budget
Taxes $ 41,096,278 $ 41,096,278 $ 39,882,724 $ (1,213,554) Licenses and permits 2,374,927 2,374,927 1,924,751 (450,176) Intergovernmental 219,202 219,202 335,787 116,585
Charges for services 5,334,185 5,334,185 3,283,166 (2,051,019) Fines and forfeitures 324,000 324,000 171,855 (152,145) Investment income 100,000 100,000 (5,670) (105,670)
Miscellaneous 3,029,637 3,029,637 1,563,921 (1,465,716) Total Revenues $ 52,478,229 $ 52,478,229 $ 47,156,534 $ (5,321,695) Budget Amounts
• Taxes were $1.2 million below budget reflecting a decrease in transient occupancy tax; offset by increases in property tax, sales tax, and franchise fees. • Licenses and permits were $0.5 million below budget reflecting a decrease in building permits due to the COVID-19 pandemic.
• Intergovernmental revenue was $0.1 million above budget reflecting monies received from the SLESF Grant.
• Charges for services were $2.1 million below budget reflecting a decrease in inspection and plan check fees for development projects due to the COVID-19 pandemic. • Fines and forfeitures were $0.2 million below budget reflecting a decrease in vehicle code fees. • Investment income was $0.1 million below budget reflecting unfavorable investment market value adjustments.
• Miscellaneous revenue was $1.5 million below budget reflecting a decrease due to the COVID-19 pandemic, which affected facility rentals and recreation programs and activities.
10.4.a
Packet Pg. 256 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 14 City of San Ramon
Management’s Discussion and Analysis
June 30, 2021
Expenditures
General Fund expenditures totaled $48.3 million, which were $2.2 million less than the final budget of $50.5 million. The actual spending coming in below budget reflected savings from vacant positions and a continued effort by the City to carefully control spending.
Actual Variance from
Expenditures Original Final Amounts Final Budget
General Government $ 7,620,815 $ 7,710,815 $ 7,593,531 $ 117,284 Community development 4,023,525 4,023,525 3,959,243 64,282 Police services 15,824,259 15,845,622 15,109,716 735,906 Public works 14,999,519 15,049,919 14,747,833 302,086
Parks and community services 7,836,018 7,836,018 6,892,067 943,951 Total Expenditures $ 50,304,136 $ 50,465,899 $ 48,302,390 $ 2,163,509 Table 4
SUMMARY OF GENERAL FUND EXPENDITURES
BUDGET AND ACTUAL
FISCAL YEAR ENDED JUNE 30, 2021
Budget Amount
Capital Asset and Debt Administration
Capital Assets
Table 5 below summarizesthe City’s capital assets by class. Capital assets are reported at historical cost, net of accumulated depreciation. These amounts do not represent the market value or replacement cost of City assets, which would be significantly higher. Historical cost is used, pursuant to accounting standards, to provide an objective basis for reporting capital assets.
At the end of 2021, the City had $390.5 million invested in a broad range of capital assets, including land, streets, bridges, drainage systems, traffic lights, parks, buildings, vehicles, and equipment.
10.4.a
Packet Pg. 257 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 15 City of San Ramon
Management’s Discussion and Analysis
June 30, 2021
Table 5
CAPITAL ASSETS
As of June 30, 2021 and 2020
2021 2020 $ Change % Change
Non Depreciable:
Land $ 42,275,381 $ 42,275,381 $ - 0.0%
Construction in Progress 14,716,649 11,044,657 3,671,992 33.2% Depreciable, Net of
Accumulated Depreciation:
Park Improvements 20,668,067 21,995,497 (1,327,430) -6.0% Buildings and Improvements 63,265,705 65,503,337 (2,237,632) -3.4% Machinery, Furniture and Equipment 3,350,592 3,466,107 (115,515) -3.3% Infrastructure 246,265,279 260,200,886 (13,935,607) -5.4% Total Capital Assets $ 390,541,673 $ 404,485,865 $ (13,944,192) -3.4% Governmental Activities
The City’s fiscal year 2021-22 capital budget calls for spending $16.8 million for capital projects. The majority of spending is for the Crow Canyon Road widening project, pavement management, Alcosta Boulevard pavement rehabilitation, the Dougherty Station Community Center and Library project, and the Dougherty Valley Tree Management program. Most projects will be financed with funds that have been designated by an outside party for that specific use and/or the 2019 Certificates of Participation (COP) financing. Additional information about capital assets can be found in Note 7 to the Notes to the Financial Statements.
Debt Administration
At year-end, the City’s governmental activities had $40.3 million in bonds, notes and contracts as shown in Table
6. This was $2.9 million less than 2020 reflecting the reductions for payments of annual principal on debt.
Additional information about the City’s long-term debt obligations can be found in Note 8 in the Notes to the Financial Statements.
Table 6
OUTSTANDING DEBT
As of June 30, 2021 and 2020
2021 2020 $ Change % Change
Certificates of Participation $ 24,700,147 $ 26,927,194 $ (2,227,047) -8.3% Pension Obligation Bonds 14,640,000 15,070,000 (430,000) -2.9% Capital Lease 980,821 1,233,404 (252,583) -20.5%
Total Debt $ 40,320,968 $ 43,230,598 $ (2,909,630) -6.7% Governmental Activities
10.4.a
Packet Pg. 258 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 16 City of San Ramon
Management’s Discussion and Analysis
June 30, 2021
Economic Factors and Next Year’s Budget
In preparing the budget for fiscal year 2021-22, management looked at the following economic factors:
• Impact of COVID-19: The COVID-19 pandemic continues to impact the City of San Ramon’s finances, including the fiscal year 2021-22 budget process. Although property tax and sales tax have increased since the prior year, they still have not reached pre-pandemic levels. Estimates for transient occupancy tax, licenses, and permits, charges for services and miscellaneous revenue also remain well below prepandemic levels. In spite of this crisis, the City continues to prioritize maintaining quality services while being fiscally prudent. For the second year in a row, the budget includes a draw-down of General Reserves to close the budget gap. This budget includes a $1.8 million use of General Reserves. • Reduction in pension expense: to offset the increase in pension cost, employees are now required to make an additional contribution to their retirement plan. • Improvement in the State budget picture: The State economy has shown a lot of improvement from the previous fiscal year. The May revision of Governor Newsom’s fiscal year 2021-22 budget projected a surplus of $75.7 billion compared to a deficit of $54 billion in the previous year. The State budget includes funds set aside for the Rainy-Day fund, paying down long-term liabilities, while providing stimulus money for families and aid for small businesses. • Continued expansion of City services in the Dougherty Valley area east of the current City limits: per existing agreements with Contra Costa County, this former County Service Area will see increases in special assessment revenues over the next few years offset by cost increases for service delivery. • The City budget plan will be to continue maintaining General Fund reserves to meet the 36% reserve policy level.
• The expenditure budget will be developed to maintain core City services. This may require additional expenditure decreases across broad categories to offset increasing labor and operating expenses.
Although the Dougherty Valley annexation has reached its conclusion, the City continues to grow with new infill housing and business. The FY 2021-22 budget is a reflection of the City’s commitment to the residents of San Ramon to continue its historically conservative approach of maintaining a high level of operating reserves to cushion against economic uncertainties, while providing high levels of service. As such, the City has made a commitment to allocate resources for public safety, cultural/social programs, and infrastructure improvements.
A copy of the City’s FY 2021-22 budget can be obtained by contacting the City Administrative Services Department (see below) or via the City’s website at www.sanramon.ca.gov.
Contacting the City’s Financial Management
This Financial Report is designed to provide our citizens, taxpayers, customers, investors, and creditors with a general overview of the City’s finances and to show the City’s accountability for revenues received. If you have questions about this report or need additional financial information, contact the Administrative Services Department, City of San Ramon, 7000 Bollinger Canyon Road, San Ramon, California 94583 or by calling (925) 973-2500.
10.4.a
Packet Pg. 259 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Financial Statements 17
City of San Ramon
Statement of Net Position
June 30, 2021
Governmental
Activities
ASSETS
Cash and investments (Note 3) $ 93,122,242
Restricted cash and investments (Note 3) 8,721,267
Receivables:
Accounts 14,654,018
Interest 232,065
Notes and loans (Note 5) 5,526,550
Due from fiduciary funds 188,196
Prepaid and deposits 155,250
Capital assets (Note 7):
Capital assets not being depreciated 56,992,030
Capital assets being depreciated, net 333,549,643
Total assets 513,141,261
DEFERRED OUTFLOWS OF RESOUCES
Related to pension (Note 10) 15,955,143
Related to OPEB (Note 12) 2,105,218
Unamortized loss on refunding of debt (Note 8) 93,656
Total Deferred Outflows of Resouces 18,154,017
LIABILITIES
Accounts payable and accrued expenses 8,939,563
Interest payable 156,484
Deposits payable 1,769,983
Unearned revenue 4,843,199
Compensated absences (Note 1 (k)):
Due within one year 672,468
Due in more than one year 4,649,948
Noncurrent liabilities:
Due within one year:
Claims and judgments payable, due within one year (Note 13) 96,290 Bonds, POB, leases (Note 8) 1,995,829
Due in more than one year:
Bonds, POB, leases (Note 8) 38,325,139
Net Pension Liability (Note 10) 47,241,429
Net OPEB Liability (Note 12) 1,338,590
Total liabilities 110,028,922
DEFERRED INFLOWS OF RESOUCES
Related to pension (Note 10) 902,472
Total Deferred Inflows of Resources 902,472
NET POSITION (Note 9):
Net investment in capital assets 368,555,622
Restricted for:
Housing 9,601,937
Public, educational, and governmental programs 1,335,908 Capital projects 32,891,009
Public works 12,145,094
Debt service 19,911
Streets and roads 12,820,532
Public safety 335,631
Culture and recreation 413,406
Lighting, Landscaping, and Special Zones 4,196,251
Total restricted net position 73,759,679
Unrestricted net position (21,951,417)
Total net position $ 420,363,884
10.4.a
Packet Pg. 260 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Financial Statements 18
City of San Ramon
Statement of Activities
Year Ended June 30, 2021
Net (Expense)
Revenue and Change
Net Position
Operating Capital
Charges for Grants and Grants and Governmental
Expenses
Services Contributions Contributions Activities
Governmental Activities:
General government $ 8,945,328 $ 263,657 $ 5,453,235 $ - $ (3,228,436) Community development 4,722,306 3,279,128 193,123 - (1,250,055) San Ramon Housing 692,707 - - - (692,707)
Police services 26,984,956 213,727 238,482 - (26,532,747) Public works 66,663,070 1,237,528 31,215,527 3,170,000 (31,040,015) Parks and community services 9,296,675 1,634,570 47,525 - (7,614,580) Interest expense and other charges 1,971,936 - - - (1,971,936) Total Governmental Activities $ 119,276,978 $ 6,628,610 $ 37,147,892 $ 3,170,000 (72,330,476) General revenues:
Taxes:
Property 21,862,847
Sales and use 10,773,143
Transient occupancy 768,417
Franchise 5,434,321
Property transfer 1,043,996
Intergovernmental, unrestricted 946,649
Interest income 1,041,246
Miscellaneous 494,718
Total general revenues 42,365,337
Change in Net Position (29,965,139)
Net Position-Beginning, as restated (Note 17) 450,329,023 Net Position-Ending $ 420,363,884
Program Revenues
Functions/Programs
10.4.a
Packet Pg. 261 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 19 City of San Ramon
Fund Financial Statements
June 30, 2021
Governmental Funds
Major funds are defined generally as having significant activities or balances in the current year.
The funds described below were determined to be Major Funds by the City in fiscal year 2021. Individual nonmajor funds may be found in the Supplementary Information section.
General Fund
Accounts for all financial resources of the City, except those required to be accounted for in another fund.
Dougherty Valley Special Revenue Fund
Accounts for revenue received from Contra Costa County as reimbursements for a variety of municipal services, including police protection, and street and park maintenance, to be provided by the City. Per a Memorandum of Understanding with the County, the City is required to separately track the costs of service provided in the Dougherty Valley Area and submit claims for reimbursements for costs to the County.
Capital Improvements Capital Projects Fund
Accounts for expenditures for major infrastructure improvements of roads; sidewalks; City facilities, including parks; as well as for the procurement of major pieces of equipment.
10.4.a
Packet Pg. 262 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Financial Statements 20
City of San Ramon
Balance Sheet
Governmental Funds
June 30, 2021
Special Capital
Revenue Projects Nonmajor Total
General Dougherty Capital Governmental Governmental
Fund Valley Improvements Funds Funds
ASSETS
Cash and investments (Note 3) $ 17,113,778 $ 252,094 $ 34,752,387 $ 35,948,388 $ 88,066,647 Restricted cash and investments (Note 3) - - - 3,599,881 3,599,881 Receivables:
Accounts 3,642,236 9,815,813 45,345 892,152 14,395,546
Notes and loans (Note 5) 16,625 - - 5,509,925 5,526,550 Interest 34,291 324 90,562 94,665 219,842
Due from other funds (Note 4 (a)) 8,540,325 - - - 8,540,325 Prepaids and deposits 123,229 21,778 - - 145,007
Total Assets $ 29,470,484 $ 10,090,009 $ 34,888,294 $ 46,045,011 $ 120,493,798
LIABILITIES
Accounts payable $ 1,844,409 $ 1,137,522 $ 1,722,832 $ 592,661 $ 5,297,424 Accrued payroll 2,302,756 882,948 36,672 149,048 3,371,424 Due to other funds (Note 4 (a)) - 8,069,539 - 42,995 8,112,534 Deposits payable 1,258,860 - 242,261 268,862 1,769,983
Unearned revenue 4,843,199 - - - 4,843,199
Total Liabilities 10,249,224 10,090,009 2,001,765 1,053,566 23,394,564 FUND BALANCES (Note 9)
Nonspendable 139,854 - - - 139,854
Restricted - - 32,886,529 44,474,411 77,360,940
Committed - - - 517,034 517,034
Unassigned 19,081,406 - - - 19,081,406
TOTAL FUND BALANCES 19,221,260 - 32,886,529 44,991,445 97,099,234 Total liabilities and fund balances $ 29,470,484 $ 10,090,009 $ 34,888,294 $ 46,045,011 $ 120,493,798
10.4.a
Packet Pg. 263 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Financial Statements 21
City of San Ramon
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position June 30, 2021
TOTAL FUND BALANCES - TOTAL GOVERNMENTAL FUNDS $ 97,099,234 Amounts reported for Governmental Activities in the Statement of Net Position are different from those reported in the Governmental Funds above because of the following:
CAPITAL ASSETS
Capital assets used in Governmental Activities are not current assets or financial resources and therefore are not reported in the Governmental Funds. 387,191,081
LONG-TERM LIABILITIES AND RELATED DEFERRALS
The liabilities and related deferrals below are not due and payable in the current period and therefore are not reported in the funds:
Long-term debt (40,320,968)
Unamortized loss on refunding of debt 93,656
Interest payable (156,484)
Deferred outflow related to pension 15,955,143
Net Pension liability (47,241,429)
Deferred inflow related to pension (902,472)
Compensated absences (5,322,416)
Deferred outflow related to OPEB 2,105,218
Net OPEB Liability (1,338,590)
Claims payable (96,290)
Internal service funds are used by management to charge the costs of certain activities, such as equipment management, to individual funds. The assets and liabilities of the internal service funds must be added to the Statement of Net Position 13,298,201 NET POSITION OF GOVERNMENTAL ACTIVITIES $ 420,363,884
10.4.a
Packet Pg. 264 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Financial Statements 22
City of San Ramon
Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds
Year Ended June 30, 2021
Special Capital
Revenue Projects Nonmajor Total
General Dougherty Capital Governmental Governmental
Fund Valley Improvements Funds Funds
REVENUES
Taxes $ 39,882,724 $ - $ - $ - $ 39,882,724
Licenses and permits 1,924,751 - - 5,520 1,930,271
Intergovernmental 335,787 18,950,928 525,451 5,419,890 25,232,056 Developer fees - - - 2,615,718 2,615,718
Charges for services 3,283,166 590 - 1,648,027 4,931,783 Fines and forfeitures 171,855 - - 21,786 193,641
Investment income (5,670) 40,508 113,893 43,864 192,595 Special assessments - - - 7,633,766 7,633,766
Miscellaneous 1,563,921 15,518 72,501 3,049,886 4,701,826 Total Revenues 47,156,534 19,007,544 711,845 20,438,457 87,314,380
EXPENDITURES
Current:
General government 7,593,531 - - - 7,593,531
Community development 3,959,243 - - 134,622 4,093,865
Housing - - - 672,889 672,889
Police services 15,109,716 8,704,361 - - 23,814,077
Public works 14,747,833 11,682,380 12,673,288 5,901,914 45,005,415 Parks and community service 6,892,067 - - - 6,892,067
Capital outlay - - 6,821,411 20,593 6,842,004
Debt service:
Principal - - - 2,832,583 2,832,583
Interest and fees - - - 2,026,619 2,026,619
Total Expenditures 48,302,390 20,386,741 19,494,699 11,589,220 99,773,050
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (1,145,856) (1,379,197) (18,782,854) 8,849,237 (12,458,670)
OTHER FINANCING SOURCES (USES)
Transfers in (Note 4 (b)) 9,946,307 1,713,475 27,773,745 3,874,996 43,308,523 Transfers (out) (Note 4 (b)) (4,923,241) (334,278) (871,646) (37,247,453) (43,376,618) Total Other Financing Sources (Uses) 5,023,066 1,379,197 26,902,099 (33,372,457) (68,095) NET CHANGE IN FUND BALANCES 3,877,210 - 8,119,245 (24,523,220) (12,526,765) FUND BALANCE AT THE BEGINNING OF YEAR, as restated 15,344,050 - 24,767,284 69,514,665 109,625,999 FUND BALANCES AT END OF YEAR $ 19,221,260 $ - $ 32,886,529 $ 44,991,445 $ 97,099,234
10.4.a
Packet Pg. 265 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Financial Statements 23
City of San Ramon
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities
Year Ended June 30, 2021
NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS $ (12,526,765) Amounts reported for governmental activities in the Statement of Activities are different because of the following:
CAPITAL ASSETS TRANSACTIONS
Governmental Funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is capitalized and allocated over their estimated useful lives and reported as depreciation expense.
Capital outlay is therefore added back to net position 6,842,004 Depreciation expense is deducted from net position
Net of internal service fund depreciation of $1,024,290 which has already been allocated to internal service funds (20,670,681)
LONG-TERM DEBT PROCEEDS AND PAYMENTS
Bond proceeds provide current financial resources to governmental funds, but issuing debt increases long-term liabilities in the Statement of Net Position.
Repayment of bond principal is an expenditure in the governmental funds, but in the Statement of Net Position the repayment reduces long-term liabilities.
Repayment of debt principal is added back to fund balance 2,832,583 Amortization of premium is added back to fund balance 77,047 Amortization of loss on refunding is deducted from fund balance (31,218)
ACCRUAL OF NON-CURRENT ITEMS
The amounts below included in the Statement of Activities do not provide or (require) the use of current financial resources and therefore are not reported as revenue or expenditures in governmental funds (net change):
Long-term compensated absences (848,167)
Interest payable and accrued liabilities, included in accrued liabilities 8,854 Claims payable (41,801)
Net Pension Liability Transactions
Governmental funds record pension expense as it is paid. However, in the Statement of Activities those costs are reversed as deferred outflows/(inflows) and an increase/(decrease) in net pension liability. (5,461,761) Net OPEB Liability Transactions
Governmental funds record OPEB expense as it is paid. However, in the Statement of Activities those costs are reversed as deferred outflows/(inflows) and an increase/(decrease) in net OPEB liability. 496,946 Internal service funds are used by management to charge the costs of certain activities, such as equipment management, to individual funds. The net revenues (expenses) of the internal service funds is reported with governmental activities. (642,180)
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $ (29,965,139)
10.4.a
Packet Pg. 266 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 24 City of San Ramon
Fund Financial Statements
Proprietary Funds
June 30, 2021
Proprietary Funds
Proprietary funds account for City operations financed and operated in a manner similar to a private business enterprise. The intent of the City is that the cost of providing goods and services be financed primarily through user charges.
10.4.a
Packet Pg. 267 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Financial Statements 25
City of San Ramon
Statement of Net Position
Proprietary Funds
June 30, 2021
Governmental
Activities
Internal Service
Funds
ASSETS
Current assets:
Cash and investments (Note 3) $ 5,055,595
Restricted cash and investments (Note 3) 5,121,386
Accounts receivable 258,472
Interest receivable 12,223
Prepaids and deposits 10,243
Total Current Assets 10,457,919
Non-current assets:
Depreciable capital assets,
net of accumulated depreciation (Note 7) 3,350,592
Total Noncurrent Assets 3,350,592
Total Assets 13,808,511
LIABILITIES
Current liabilities
Accounts payable 215,264
Accrued payroll 55,451
Due to other funds 239,595
Total Liabilities 510,310
NET POSITION (Note 9)
Net investment in capital assets 3,350,592
Unrestricted 9,947,609
Total Net Position $ 13,298,201
10.4.a
Packet Pg. 268 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Financial Statements 26
City of San Ramon
Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds
Year Ended June 30, 2021
Governmental
Activities
Internal Service
Funds
Operation revenues:
Charges for services $ 11,323,357
Miscellaneous 263,121
Total operating revenues 11,586,478
Operating expenses:
Personnel services 2,427,280
Services and supplies 243,511
Claims and insurance 10,336,010
Depreciation 1,024,290
Total operating expenses 14,031,091
Operating loss (2,444,613)
Non-operating revenue:
Investment income 848,651
Intergovernmental 885,687
Total non-operating revenues 1,734,338
Loss before transfers (710,275)
Transfers:
Transfer in (Note 4 (b)) 738,890
Transfer (out) (Note 4 (b)) (670,795)
Total transfers 68,095
Change in net position (642,180)
Net position - beginning of year 13,940,381
Net position - end of year $ 13,298,201
10.4.a
Packet Pg. 269 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Financial Statements 27
City of San Ramon
Statement of Cash Flows
Proprietary Funds
Year Ended June 30, 2021
Governmental
Activities
Internal
Service
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from department users $ 11,589,002
Cash payments to suppliers of goods and services (1,008) Cash payments to employees and services (12,757,283)
Net cash used for operating activities (1,169,289)
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Intergovernmental 885,687
Transfers in 738,890
Transfers (out) (670,795)
Cash Flows from Noncapital Financing Activities 953,782
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition and construction of capital assets (908,775) Cash Flows used for Capital and Related Financing Activities (908,775)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment earnings received 848,651
Cash Flows from Investing Activities 848,651
Net change in cash and cash equivalents (275,631)
Cash and cash equivalent at beginning of year 10,452,612 Cash and cash equivalent at end of year $ 10,176,981
10.4.a
Packet Pg. 270 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Financial Statements 28
City of San Ramon
Statement of Cash Flows
Proprietary Funds, continued
Year Ended June 30, 2021
Governmental
Activities
Internal
Service
RECONCILIATION OF OPERATING INCOME (LOSS) TO
NET CASH PROVIDED BY OPERATING ACTIVITIES:
Operating income $ (2,444,613)
Adjustments to reconcile operating income
to net cash provided by operating activities:
Depreciation and amortization 1,024,290
Change in assets and liabilities:
Accounts receivable (10,794)
Interest receivable 13,318
Prepaids and deposits (531)
Accounts payable 3,439
Accrued payroll 6,007
Due to other funds 239,595
Net cash provided by operating activities $ (1,169,289)
10.4.a
Packet Pg. 271 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 29 City of San Ramon
Fund Financial Statements
Fiduciary Funds
June 30, 2021
Fiduciary Funds
Private-purpose trust fund is used to account for monies received from the Contra Costa County Auditor Controller for the repayment of the enforceable obligations of the San Ramon Successor Agency. These funds are restricted for the sole purpose of payment of items on an approved Recognized Payment Obligation Schedule.
Custodial funds are used to account for assets held by the City as a custodian for individuals, private organizations, and other governments. The financial activities of these funds are excluded from the governmentwide financial statements but are presented in separate Fiduciary Fund financial statements.
10.4.a
Packet Pg. 272 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Financial Statements 30
City of San Ramon
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2021
Private-Purpose Custodial
Trust Fund Funds
ASSETS
Cash and investments (Note 3) $ 5,987,499 $ 157,936
Notes and loans 6,207
-
Interest receivable 11,994 5
Capital assets, not depreciated 4,746,608 -
Total Assets 10,752,308 157,941
LIABILITIES
Accounts payable 946,528 -
Deposits - 107,652
Due to other funds
- 188,196
Loan payable to City (Note 6) 359,887
-
Long-term debt:
Due in less than one year 2,978,377 -
Due in more than one year 62,587,626
-
Total Liabilities 66,872,418 295,848
NET POSITION
Restricted for Individuals, organizations,
and other governments (56,120,110) (137,907)
Total net position $ (56,120,110) $ (137,907)
10.4.a
Packet Pg. 273 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Financial Statements 31
City of San Ramon
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
Year ended June 30, 2021
Private-Purpose Custodial
Trust Funds Funds
ADDITIONS
Taxes $ 5,602,416 $ -
Investment income (12,206) (10,938)
Assessments - 479,267
Total additions 5,590,210 468,329
DEDUCTIONS
Community development 5,701 775,832
Debt service:
Interest and fiscal charges 3,040,317 -
Total deductions 3,046,018 775,832
Net increase (decrease) in net position 2,544,192 (307,503) Net position - beginning of year, as restated (58,664,302) 169,596 Net position (deficit) - end of year $ (56,120,110) $ (137,907)
10.4.a
Packet Pg. 274 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 32 City of San Ramon
Notes to Financial Statements
June 30, 2021
Note 1 - Summary of Significant Accounting Policies
a) Reporting Entity
The City of San Ramon (the “City”) was incorporated in 1983 as a Charter City and operates under a Council/Manager form of government. The Council is composed of five members. As required by generally accepted accounting principles, the financial statements present the government and its component unit for which the government is considered financially accountable. A blended component unit, although a legally separate entity, is, in substance, part of the government’s operations and so data from this unit is combined with the data of the primary government. The blended component unit as described below has a June 30 year end.
Blended Component Unit
The San Ramon Public Financing Authority (the “Authority”) was formed in 1987 as a joint powers authority between the City and the Authority in order to provide financial assistance to the City and the Authority by issuing debt and financing the construction of public facilities. The members of the City Council also act as the governing board of the Authority. Separate financial statements are not issued for the Authority. b) Government-wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the nonfiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements and eliminations have been made to minimize the double counting of internal activities.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds are reported as separate columns in the fund financial statements.
10.4.a
Packet Pg. 275 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 33 City of San Ramon
Notes to Financial Statements
June 30, 2021
c) Measurement Focus, Basis of Accounting, and Financial Statement Presentation The government-wide, proprietary, and fiduciary fund financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when the liability is incurred, regardless of the timing of the related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.
Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 365 days of the end of the current fiscal year. Revenues from property taxes are determined to be available if collectible within sixty days. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, and claims and judgments are recorded only when payment is due.
Property taxes, franchise taxes, licenses, charges for services, intergovernmental revenue and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when cash is received by the government. Inventories are reported in the governmental funds using the purchase method. Inventories are valued on a first-in-first-out basis and since they are held for the City’s own use, they are not adjusted to reflect changes in their market value.
The City reports the following major governmental funds:
The General Fund is the government’s primary operating fund. It accounts for all financial resources of the City, except those required to be accounted for in another fund.
The Dougherty Valley Special Revenue Fund is used to account for revenue received from Contra Costa County as reimbursements for a variety of municipal services, including police protection, and street and park maintenance, to be provided by the City. Per a Memorandum of Understanding with the County, the City is required to separately track the costs of service provided in the Dougherty Valley Area and submit claims for reimbursements for costs to the County.
The Capital Improvement Capital Projects Fund is used to account for expenditures for major infrastructure improvements of roads, sidewalks, City facilities, including parks, as well as for the procurement of major pieces of equipment.
10.4.a
Packet Pg. 276 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 34 City of San Ramon
Notes to Financial Statements
June 30, 2021
In addition, the City reports the following fund types:
Proprietary Fund Type
Internal Service Funds are used to account for the financing of goods or services provided by one department of the City to other departments on a cost-reimbursement basis. The City has six internal service funds – The Investment Fund is for investment management, the Equipment Replacement Fund is for recording the equipment and depreciation thereon, the Information Systems Replacement Fund is for recording computer equipment, the Insurance Liability Fund is used to provide for the general liability and other claims against the City, the Healthcare Fund is used for payment of medical, dental, vision premiums and claims, and the Infrastructure Maintenance Fund is used for the cost of maintaining City buildings.
Fiduciary Fund Types
Private-purpose Trust Fund is used to account for monies received from the Contra Costa County Auditor Controller for repayment of the enforceable obligations of the San Ramon Successor Agency. These funds are restricted for the sole purpose of payment of items on an approved Recognized Payment Obligation Schedule.
Custodial Funds are used to report activities related to the City as a fiduciary for individuals, private organizations, and/or - other governments, in accordance with the conditions of the agreements. The City has three custodial funds –Cree Court Assessment District Fund, Southern Contra Costa Joint Exercise of Powers Agreement (SCCJEPA) Trust Fund, and San Ramon Valley Tourism Improvement District (TID).
As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements.
Amounts reported as program revenues include 1) charges to members, customers or applicants for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the City’ internal service funds are charges to customers for sales and services. Operating expenses for internal service funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. d) Restricted Assets
Certain proceeds of debt and lease agreements, as well as certain resources set aside for their repayment, are classified as restricted assets on the balance sheet because their use is limited by applicable debt covenants.
10.4.a
Packet Pg. 277 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 35 City of San Ramon
Notes to Financial Statements
June 30, 2021
When both restricted and unrestricted resources are available for use, it is the City’s policy to use restricted resources first, then use unrestricted resources as needed.
e) New Accounting Pronouncements– Effective This Fiscal Year Governmental Accounting Standards Board (GASB) Statement No. 84 – In January 2017, the GASB issued Statement No. 84, Fiduciary Activities. The objective of this Statement is to improve guidance regarding the identification of fiduciary activities for accounting and financial reporting purposes and how those activities should be reported. This Statement establishes criteria for identifying fiduciary activities of all State and local governments. The focus of the criteria generally is on (1) whether a government is controlling the assets of the fiduciary activity and (2) the beneficiaries with whom a fiduciary relationship exists. Separate criteria are included to identify fiduciary component units and postemployment benefit arrangements that are fiduciary activities.
The provisions of this Statement have been implemented as of June 30, 2021. The impact to the City resulted in a reclassification of the City’s Dougherty Valley Performing Arts Theatre fund from fiduciary to governmental. The effect of the implementation of this standard on beginning fund balance and net position is disclosed in Note 17.
Governmental Accounting Standards Board (GASB) Statement No. 90 – In August 2018, GASB issued Statement No. 90, Majority Equity Interest, an amendment of GASB statement No. 14 and No. 61. The primary objectives of this Statement are to improve the consistency and comparability of reporting a government’s majority equity interest in a legally separate organization and to improve the relevance of financial statement information for certain component units. The provisions of this Statement have been implemented as of June 30, 2021. Implementation of the statement does not have material impact on the City’s financial statements.
Governmental Accounting Standards Board (GASB) Statement No. 93 – In May 2020, GASB issued Statement No. 93, Replacement of Interbank Offered Rates. The objective of this Statement is to address those and other accounting and financial reporting implications that result from the replacement of an IBOR (Interbank Offered Rate). The provisions of this Statement have been implemented as of June 30, 2021. Implementation of the statement does not have material impact on the City’s financial Statements.
Governmental Accounting Standards Board (GASB) Statement No. 98 – In October 2021, GASB issued Statement No. 98, the Annual Comprehensive Financial Report. This Statement establishes the term annual comprehensive financial report and its acronym ACFR. That new term and acronym replace instances of Comprehensive annual financial report and its acronym in generally accepted accounting principles for state and local governments. The requirements of this Statement are effective for reporting periods beginning after December 15, 2021, or the FY 2022/23. Earlier implementation is encouraged. The City implemented the provisions of this statement effective July 1, 2019.
f) New Accounting Pronouncements – Effective in Future Fiscal Years Governmental Accounting Standards Board (GASB) Statement No. 87 – In June 2017, GASB issued Statement No. 87, Leases. The objective of this Statement is to better meet the information needs of financial statement users by improving accounting and financial reporting for leases by governments. This Statement increases the usefulness of governments’ financial statements by requiring recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract.
10.4.a
Packet Pg. 278 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 36 City of San Ramon
Notes to Financial Statements
June 30, 2021
It establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. Under this Statement, a lessee is required to recognize a lease liability and an intangible right-to-use lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources, thereby enhancing the relevance and consistency of information about governments’ leasing activities. The Statement is effective for the reporting periods beginning after December 15, 2020, or FY 2021/2022. The City is evaluating the impact of this Statement on the financial statements.
Governmental Accounting Standards Board (GASB) Statement No. 89 – In June 2018, GASB issued Statement No. 89, Accounting for Interest Cost Incurred Before the End of a Construction Period. The objectives of this Statement are to enhance the relevance and comparability of information about capital assets and the cost of borrowing for a reporting period and (b) to simplify accounting for certain interest costs. This Statement requires that interest cost incurred before the end of a construction period be recognized as an expense in the period in which the cost is incurred for financial statements prepared using the economic resources measurement focus. As a result, interest cost incurred before the end of a construction period will not be included in the historical cost of a capital asset reported in the financial statements. The requirements of this Statement are effective for reporting periods beginning after December 15, 2020 or FY 2021/2022. The City is evaluating the impact of this Statement on the financial statements.
Governmental Accounting Standards Board (GASB) Statement No. 91 – In May 2019, GASB issued Statement No. 91, Conduit Debt Obligations. The objectives of this Statement is to provide a single method of reporting conduit debt obligations by issuers and eliminate diversity in practice associated with commitments extended by issuers, arrangements associated with conduit debt obligations, and related note disclosures by clarifying the existing definition of a conduit debt obligation; establishing that a conduit debt obligation is not a liability of the issuer; establishing standards for accounting and financial reporting of additional commitments and voluntary commitments extended by issuers and arrangements associated with conduit debt obligations; and improving required note disclosures. The requirements of this Statement are effective for reporting periods beginning after December 15, 2021 or FY 2022/2023. The City is evaluating the impact of this Statement on the financial statements.
Governmental Accounting Standards Board (GASB) Statement No. 92 – In January 2020, GASB issued Statement No. 92, Omnibus 2020. The objectives of this Statement are to establish accounting and financial reporting requirements for specific issues related to leases, intra-entity transfers of assets, postemployment benefits, government acquisitions, risk financing and insurance-related activities of public entity risk pools, fair value measurements, and derivative instruments. The requirements of this Statement are effective for reporting periods beginning after June 15, 2021 or FY 2021/2022, except for the requirement relating to Statement 87 and Implementation Guide 2019-3; reinsurance recoveries, and terminology used to refer to derivative instruments which are effective upon issuance. The City is evaluating the impact of this Statement on the financial statements.
Governmental Accounting Standards Board (GASB) Statement No. 94 – In March 2020, GASB issued Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements. The objectives of this Statement improve financial reporting by addressing issues related to public-private and public-public partnership arrangements (PPPs). The requirements of this Statement are effective for reporting periods beginning after June 15, 2022 or FY 2022/2023. The City is evaluating the impact of this Statement on the financial statements.
10.4.a
Packet Pg. 279 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 37 City of San Ramon
Notes to Financial Statements
June 30, 2021
Governmental Accounting Standards Board (GASB) Statement No. 96 – In May 2020, GASB issued Statement No. 96, Subscription-Based Information Technology Arrangements. The objectives of this Statement are to provide guidance on the accounting and financial reporting for subscription-based information technology arrangements (SBITAs) for government end users (governments). This Statement (1) defines a SBITA; (2) establishes that a SBITA results in a right-to-use subscription asset—an intangible asset—and a corresponding subscription liability; (3) provides the capitalization criteria for outlays other than subscription payments, including implementation costs of a SBITA; and (4) requires note disclosures regarding a SBITA.
The requirements of this Statement are effective for reporting periods beginning after June 15, 2022 or FY 2022/2023. The City is evaluating the impact of this Statement on the financial statements.
Governmental Accounting Standards Board (GASB) Statement No. 97 – In June 2020, GASB issued Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans—an amendment of GASB Statements No. 14 and No. 84, and a supersession of GASB Statement No. 32. The objective of this Statement is (1) to increase consistency and comparability related to the reporting of fiduciary component units in circumstances in which a potential component unit does not have a governing board and the primary government performs the duties that a governing board typically would perform; (2) mitigate costs associated with the reporting of certain defined contribution pension plans, defined contribution other postemployment benefit (OPEB) plans, and employee benefit plans other than pension plans or OPEB plans (other employee benefit plans) as fiduciary component units in fiduciary fund financial statements; and (3) enhance the relevance, consistency, and comparability of the accounting and financial reporting for Internal Revenue Code (IRC) Section 457 deferred compensation plans (Section 457 plans) that meet the definition of a pension plan and for benefits provided through those plans. The requirements of this Statement are effective for reporting periods beginning after June 15, 2021 or FY 2021/2022. The City is evaluating the impact of this Statement on the financial statements. g) Cash and Investments
For purposes of the statement of cash flows of the proprietary funds, all cash and investments with an original maturity of 90 days or less are considered to be cash and cash equivalents. The City pools its investment funds for maximum return. Investments are included within the financial statement classifications of “Cash and investments” and “Cash and investments – restricted” and are stated at fair value.
The City has adopted the provisions of GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Pools (GASB 31), which require governmental entities to report certain investments at fair value in the financial statements and recognize the corresponding change in the fair value of investments in the year in which the change occurred. In accordance with GASB 31, the City has adjusted certain investments to fair value.
h) Receivables and Payables
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either “due to/from other funds” (i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., the noncurrent portion of interfund loans). All other outstanding balances between funds are reported as “due to/from other funds.”
10.4.a
Packet Pg. 280 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 38 City of San Ramon
Notes to Financial Statements
June 30, 2021
i) Capital Assets
Capital assets, which include land, machinery, equipment (vehicles, computers, etc.), buildings and improvements, and infrastructure assets (roads, bridges, etc.), are reported in the statements of net position.
Capital assets are defined by the City as all land and buildings; vehicles, and equipment with an initial individual cost of more than $5,000; improvements and infrastructure assets with costs of more than $100,000.
Contributed capital assets are valued at their estimated fair market value on the date contributed. Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are recorded at acquisition value. All other capital assets are valued at historical cost or estimated historical cost if actual historical cost is notavailable.
Depreciation is recorded on a straight-line basis over the useful life of the assets as follows:
Parks improvements 25 years
Buildings and improvements 25 to 50 years
Machinery, improvements and equipment 3 to 10 years
Infrastructure assets 10 to 100 years
Infrastructure assets includes pavement/roads, storm drains, sidewalks, landscaping, curb and gutters, streetlights, traffic signals, bridges, culverts, catch basins, retaining and sound walls, v-ditches, drainage structures and fencing.
Some capital assets may be acquired using Federal and State grant funds, or they may be contributed by developers or other governments. GASB Statement 34 requires that these contributions be accounted for as revenues at the time the capital assets are contributed. j) Deferred Outflows and Inflows of Resources
In addition to assets, the statement of net position reports a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense) until then.
In addition to liabilities, the statement of net position or balance sheet reports a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position or fund balance that applies to a future period(s) and so will not be recognized as an inflow or resources (revenue) until that time.
k) Long-Term Debt
In the government-wide statements long-term debt is recorded as liability in the Statement of Net Position.
10.4.a
Packet Pg. 281 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 39 City of San Ramon
Notes to Financial Statements
June 30, 2021
l) Employee Compensated Absences
City employees may receive from twelve to twenty-two days-vacation time each year, depending upon length of service. An employee may accumulate earned vacation time up to a maximum of two years’ worth of accrued vacation leave. Upon termination, employees are paid the full value of their unused vacation and compensatory time at their existing salary. City employees may accrue twelve days of sick leave each year. Upon termination, employees are paid 25-50 percent depending on length of service, of the value of their unused sick leave balance at their existing salary. There is no fixed payment schedule for employee compensated absences. The liability will be paid from the fund where the employee’s salary was charged, primarily from the general fund.
The changes of the compensated absences in fiscal year 2020-2021 were as follows:
Governmental
Activities
Beginning Balance $ 4,474,249
Additions 1,386,623
Payments (538,456)
Ending Balance $ 5,322,416
Current Portion $ 672,468
m) Property Taxes
Property taxes are assessed, collected, and allocated by the County of Contra Costa.
The duties of assessing and collecting property taxes are performed by the County of Contra Costa Assessor and Tax Collector, respectively. Under the County’s “Teeter Plan,” the County remits the entire amount levied and handles all delinquencies, retaining interest and penalties. Tax levies cover the period from July 1 to June 30 of each year. All tax liens attach annually on the first day in January proceeding the fiscal year for which the taxes are levied. Taxes are levied on both real and personal property, as it exists on that date.
Secured property taxes are levied against real property and are due and payable in two equal installments. The first installment is due on November 1 and becomes delinquent if not paid by December 10. The second installment is due on February 1 and becomes delinquent if not paid by April 10.
10.4.a
Packet Pg. 282 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 40 City of San Ramon
Notes to Financial Statements
June 30, 2021
n) Claims and Judgments
When it is probable that a claim liability has been incurred, and the amount of the loss can be reasonably estimated, the City records the estimated loss, net of any insurance coverage under its self-insurance program.
At June 30, 2021, in the opinion of the City Attorney, the City had no material claims, which require loss provisions in the financial statements. Small claims and judgments are recorded as expenditures when paid.
The City’s self-insurance program is administered through the Municipal Pooling Authority (the MPA), which is described at Note 13(a). The MPA is a public entity risk pool, which is accounted for under the provisions of GASB Statement No. 10, Accounting and Financial Reporting for Risk Financing and Related Insurance Issues.
Claim losses recorded in the MPA include both current claims and Incurred but Not Reported (IBNR) claims.
Payments to the MPA for claim settlements are recorded by the City as expenditures in the Insurance Liability Internal Service Fund when paid.
o) Allocation of Investment Earnings Among Funds
The City pools all non-restricted cash for investment purchases and allocates interest income and gains and losses in market value based on month-end cash balances. Funds that have restricted cash record interest income in the respectivefund.
p) Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the Unites States of America requires management to make estimates and assumptions that effect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. q) Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The fair value hierarchy categorizes the inputs to valuation techniques used to measure fair value into three levels based on the extent to which inputs used in measuring fair value are observable in the market.
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 inputs are inputs – other than quoted prices included within level 1 – that are observable for an asset or liability, either directly or indirectly.
Level 3 inputs are unobservable inputs for an asset or liability.
If the fair value of an asset or liability is measured using inputs from more than one level of the fair value hierarchy, the measurement is considered to be based on the lowest priority level input that is significant to the entire measurement.
10.4.a
Packet Pg. 283 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 41 City of San Ramon
Notes to Financial Statements
June 30, 2021
r) Net Pension Liabilities, Expenses and Deferred Outflows of Resources/Inflows of Resources Related to pension
For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City’s California Public Employees’ Retirement System (CalPERS) plans (Plans) and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by the CalPERS Financial Office. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value s) OPEB Liabilities, Expenses and Deferred Outflows of Resources/Inflows of Resources Related to OPEB For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s OPEB Plan and additions to/deductions from the OPEB Plan’s fiduciary net position have been determined on the same basis as they are reported by the California Employers’ Retiree Benefit Trust (CERBT). For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms.
Investments are reported at fair value.
Note 2 - Stewardship, Compliance andAccountability
BudgetaryAccounting
The City Council adopts an Annual Budget, in accordance with generally accepted accounting principles, no later than the second meeting of June of each year for the fiscal year commencing the following July 1. The City follows these procedures in establishing the budgetary data reflected in the financial statements:
During May of each year, the City Manager submits to the City Council a proposed budget for the next fiscal year. Copies are made available to the public, the press, and staff members.
A series of Council work sessions are held at which the recommended budget is reviewed in detail and the departments (asrequested) provide additional information.
After review by the City Council, a public hearing is conducted for the purpose of receiving public input on the recommended operating and capital budgets, the Master Fee Schedule, and the Appropriation Limit.
Upon completion of the hearings and modifications, if any, to the proposed budget, the budget is adopted no later than June 30th by the City Council through passage of appropriateresolutions.
Generally, the budget is amended in the middle of the year. All approved additional appropriations are added to the adopted budget and an amended budget is presented to the City Council, which adopts it after due review. Expenditures may not exceed budgeted appropriations at the fundlevel.
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Packet Pg. 284 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 42 City of San Ramon
Notes to Financial Statements
June 30, 2021
Under Article XIIIB of the California Constitution (the Gann Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations from the proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller, returned to the taxpayers through revised tax rates or revised fee schedules, or an excess in one year may be offset against a deficit in the following year. For the fiscal year ended June 30, 2021, based on calculations by City Management, proceeds of taxes did not exceed related appropriations.
Expenditure in Excess of Appropriations
The City had the following funds with expenditures in excess of appropriations for the year ended June 30, 2021:
Fund Name Amount
Governmental Non-Major Funds:
Geographic Information System $ 7,735
Open Space Development Fund 15,000
Northwest San Ramon GHAD (NWSR GHAD) 200
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Packet Pg. 285 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 43 City of San Ramon
Notes to Financial Statements
June 30, 2021
Note 3 - Cash and Investments
Cash and investments as of June 30, 2021 are classified in the accompanying financial statements as follows:
Amount
Statement of Net Position
Cash and investments $ 93,122,242
Cash and investments - restricted 8,721,267
Statement of Fiduciary Net Position
Cash and investments:
Private Purpose Trust Fund 5,987,499
Custodial Funds 157,936
Total Cash and investments $ 107,988,944
Cash and investments as of June 30 consisted of the following:
Cash on hand $ 15,945
Deposits with financial institutions 12,836,019
Investments 95,136,980
Total Cash and investments $ 107,988,944
a) Investments Authorized by the California Government Code and the City’sInvestment Policy The following table identifies the investment types that are authorized for the City by the California Government Code (or the City’s investment policy, where more restrictive). The table also identifies certain provisions of the California Government Code (or the City’s investment policy, where more restrictive) that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investment of debt proceeds held by bond trustee that are governed by the provisions of debt agreements of the City, rather than the general provisions of the California Government Code or the City’s investment policy; nor does the table address the investment of funds set aside for the payment of retiree health care benefits which are governed by a separate less restrictive section of the California Government Code.
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Packet Pg. 286 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 44 City of San Ramon
Notes to Financial Statements
June 30, 2021
Maximum Maximum
Maximum Minimum Percentage Investment
Authorized Investment Type Maturity Credit Quality** of Portfolio * in One Issuer Bankers' Acceptances 180 days P-1/ A-1 40% 2%
Commercial Paper 270 days A-1/P-1/F-1 25% 2%
FDIC Insured Certificates of Deposit 5 years None None $250,000 Federal Agency Securities 5 years None None 50%
Local Agency Bonds 5 years Aa3/AA-/AA- None 10% San Ramon / 2% other Municipal
Securities
Local Agency Investment Fund (LAIF) N/A None 15% $40 million Medium-Term Corporate Notes 5 years Aa3/AA-/AA- 30% 2%
Money Market Mutual Funds None Aaa/AAA 20% 10%
Negotiable Order of Withdrawal N/A AA $3,500,000 None
Negotiable Time Certificates of Deposit 5 years Aa2/AA 30% 2% Repurchase Agreements 30 days None 30% None
State of CA Bonds 5 years Aa3/AA-/AA- None None
State of CA Obligations 5 years Aa3/AA-/AA- 3% 3%
Supranational Debt Organizations 5 years Aa2/AA 30% 5%
U.S. Treasury Obligations 5 years None None None
* Excluding amounts held by bond trustee and funds invested for the payment of retiree health care benefits. ** At time of purchase
b) Investments Authorized by Debt Agreements
Investments of debt proceeds held by bond trustees are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the City’s investment policy. The table below identifies the investment types that are authorized for investments held by bond trustee. The table also identifies certain provisions of these debt agreements that address interest rate risk, credit risk, and concentration of credit risk.
Maximum Maximum Minimum
Maximum Percentage Investment Credit
Authorized Investment Type Maturity Allowed in One Issuer Quality Bankers' Acceptances 366 days None 40% A-1
Commercial Paper 270 days None None A-1, AAA
Federal Agency Obligations 3 years None None AAA
Federal Agency Securities None None None None
Investment Agreements 30 years None None None
Local Agency Bonds None None None None
Local Agency Investment Fund (LAIF) N/A None 15% None
Medium-Term Corporate Notes 5 years None None None
Money Market Mutual Funds N/A None None AAA
Mortgage-backed Securities None None None None
Municipal Bonds None None None AAA
U.S. Treasury Obligations None None None None
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Packet Pg. 287 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 45 City of San Ramon
Notes to Financial Statements
June 30, 2021
c) Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer-term investments and by timing cash flows maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations.
Information about the sensitivity of the fair values of the City’s investments (including investments held by bond trustee) to market interest rate fluctuations is provided by the following table that shows the distribution of the City’s investments by maturity:
12 Months 13 to 25 to
or less 24 Months 60 Months Total
Federal Agency Securities $ 10,574,830 $ 13,518,657 $ 21,460,694 $ 45,554,181 U.S. Treasury Notes 2,011,600 - 4,019,160 6,030,760
Municipal Bonds - - 1,041,100 1,041,100
Medium-Term Corporate Notes 1,020,990 2,049,500 3,055,350 6,125,840 Negotiable Time Certificates of Deposit 1,260,487 1,791,311 1,840,055 4,891,853 Commercial Paper 3,749,863 - - 3,749,863
Money Market Mutual Funds 2,345,357 - - 2,345,357
Supranational Obligations - - 3,096,449 3,096,449
Local Agency Investment Fund (LAIF) 13,580,558 - - 13,580,558 Held by trustee:
Money Market Mutual Funds 16,560 - - 16,560
PARS Trust - Mutual Funds 5,121,386 - - 5,121,386
US Treasury/Federal Agency 3,583,322 - - 3,583,322
Total Investments $ 43,264,953 $ 17,359,468 $ 34,512,808 95,137,229 Cash in banks and on hand 12,851,964
Total Cash and Investments $ 107,989,193
Investment Type
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Packet Pg. 288 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 46 City of San Ramon
Notes to Financial Statements
June 30, 2021
d) Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating required by (where applicable) the California Government Code, the City’s investment policy, or debt agreements, and the actual rating as of year-end for each investment type, as provided by Moody’s investment rating system:
Aaa Aa1 to Aa3 P-1 Total
Commercial Paper $ - $ - $ 3,749,863 $ 3,749,863
Federal Agency Securities 44,554,161 - 1,000,020 45,554,181 Municipal Securities - 1,041,100 - 1,041,100
Medium-Term Corporate Notes 4,080,872 2,044,970 - 6,125,842 Money Market Mutual Funds 2,345,357 - - 2,345,357
Supranational Obligations 3,096,449 - - 3,096,449
Held by trustee:
Money Market Mutual Funds 16,558 - - 16,558
Subtotal $ 54,093,397 $ 3,086,070 $ 4,749,883 61,929,350 Not Rated:
Local Agency Investment Fund 13,580,558
Negotiable Time Certificates of Deposit 4,891,853
PARS Trust - Mutual Funds 5,121,386
Exempt from credit rate disclosure:
US Treasury/Federal Agency 3,583,322
U.S. Treasury Notes 6,030,760
Total Investments $ 95,137,229
Ratings as of June 30, 2021
Investment Type
e) Fair Value Hierarchy
The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure fair value of the assets. Level 1 inputs are quoted prices in an active market for identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant unobservableinputs.
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Packet Pg. 289 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 47 City of San Ramon
Notes to Financial Statements
June 30, 2021
The following is a summary of the fair value hierarchy of the fair value of investments of the City as of June 30, 2021:
Level 1 Level 2 Total
Investments by Fair Value Level:
Federal Agency Securities $ 3,999,800 $ 41,554,381 $ 45,554,181 Municipal Securities - 1,041,100 1,041,100
Medium-Term Corporate Notes - 6,125,842 6,125,842
Negotiable Time Certificates of Deposit - 4,891,853 4,891,853 Supranational Obligations - 3,096,449 3,096,449
Commercial Paper - 3,749,863 3,749,863
U.S. Treasury Notes 9,614,082 - 9,614,082
Subtotal $ 13,613,882 $ 60,459,488 74,073,370
Investments Measured at Amortized Cost:
Money Market Mutual Funds 2,345,357
Held by trustee:
Money Market Mutual Funds 16,558
PARS Trust - Mutual Funds 5,121,386
Investments Exempt from Fair Value Hierarchy:
Local Agency Investment Fund (LAIF) 13,580,558
Total Investments $ 95,137,229
Investments classified in Level 1 of the fair value hierarchy are valued using prices quoted in active markets for those securities or offer same day liquidity at a price of par. Investments classified in Level 2 of the fair value hierarchy, are valued using a matrix pricing technique. Matrix pricing is the process of estimating the market price of a bond based on the quoted prices of more frequently traded comparable bonds. The Local Agency Investment Fund and the Money Market Funds are reported at amortized cost because the transactions are based on a stable net asset value per share. All contributions and redemptions are transacted at $1.00 net asset value per share.
f) Concentration of Credit Risk
The investment policy of the City contains no limitations on the amount that can be invested in any one issuer beyond that stipulated by the California Government Code. Investments in any one issuer (other than U.S.
Treasury securities, mutual funds, and external investment pools) that represent 5% or more of total City investments are as follows:
Issuer Investment Type Amount
Federal Farm Credit Bank Federal Agency Securities $ 18,815,431 Federal Home Loan Bank Federal Agency Securities 10,610,270 Federal Home Loan Mortgage Corporation Federal Agency Securities 5,973,220 Federal National Mortgage Association Federal Agency Securities 8,143,300
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Packet Pg. 290 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 48 City of San Ramon
Notes to Financial Statements
June 30, 2021
g) Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker- dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code and the City’s policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the following provision for deposits: The California Government Code requires that a financial institution secure deposits made by state or local governmental units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the governmental unit). The market value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the public agencies. California law also allows financial institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the secured publicdeposits.
As of June 30, 2021, $12,586,019 of the City’s deposits with financial institutions in excess of Federal Depository Insurance Limits were collateralized.
h) Investment in State Investment Pool
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The pool is not rated by the Securities and Exchange Commission. The book value of the City’s investment in this pool is reported in the accompanying financial statements at amounts based upon the City’s pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized costbasis.
The total amount invested by all public agencies in LAIF as of June 30, 2021 was $36.6 billion. LAIF is a part of the California Pooled Money Investment Act (PMIA), which at June 30, 2021 had a portfolio balance of $193.3 billion. Included in LAIF’s investment portfolio are collateralized mortgage obligations, mortgage-backed securities, other asset-backed securities, loans to certain state funds, and floating rate securities issued by federal agencies, government- sponsored enterprises, United States Treasury Notes and Bills, and corporations.
The average maturity of PMIA investments was 291 days as of June 30, 2021.
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Packet Pg. 291 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 49 City of San Ramon
Notes to Financial Statements
June 30, 2021
Note 4 - Interfund Transactions
a) Interfund Balances
The purpose of the interfund receivables and payables is to make short-term loans from the General Fund to various funds. This interfund loan is to provide for operating cash flow. At June 30, 2021, interfund balances were as follows:
Due From Other Funds Due to Other Funds Amount
General Fund Dougherty Valley Special Revenue Fund $ 8,069,539 Non-Major Governmental Funds 42,995
Internal Service Funds 239,595
Fiduciary Funds 188,196
$ 8,540,325
b) Interfund Transfers
Interfund transfers for the year ended June 30, 2021 consisted of the following:
Amount
Transfers From Transfers To Transferred
General Fund Dougherty Valley Special Revenue Fund $ 1,713,475 (A) Capital Improvements Capital Projects Fund 129,679 (B)
Internal Service Funds 689,796 (E)
Non-major Governmental Funds 2,390,291 (A), (C)
Dougherty Valley Special Revenue Fund Capital Improvements Capital Projects Fund 83,840 (B) Internal Service Funds 41,358 (E)
Non-major Governmental Funds 209,080 (A), (C)
Capital Improvements Capital Projects Fund General Fund 113,893 (A) Non-major Governmental Funds 757,753 (A), (D)
Nonmajor Governmental Funds General Fund 9,832,414 (A)
Capital Improvements Capital Projects Fund 26,889,431 (B) Internal Service Funds 7,736 (E)
Non-major Governmental Funds 517,872 (A), (C)
Internal Service Funds Capital Improvements Capital Projects Fund 670,795 (B) Total Interfund Transfers $ 44,047,413
(A) Transfers to fund operation expenditures
(B) Transfers to fund capital improvements
(C) Transfers to fund debt service
(D) Transfers to return excess CIP funding
(E) Transfer to Internal Service Funds
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Packet Pg. 292 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 50 City of San Ramon
Notes to Financial Statements
June 30, 2021
Note 5 - Notes and LoansReceivable
Notes and loans receivable activities for the year ended June 30, 2021 is as follows:
Balance at Balance at
June 30, 2020 Additions Deletions June 30, 2021
Governmental Activities:
American Baptist Homes $ 5,500,000 $ - $ - $ 5,500,000
REHAB Loan Program 35,000 - (35,000) -
Computer Loans 15,371 18,711 (17,996) 16,086
Greystone Homes, Inc. 9,925 - - 9,925
Firearm Safe Loans 2,440 - (1,901) 539
Cree Court 1,528 - (1,528) -
Total 5,564,264 18,711 (56,425) 5,526,550
Fiduciary Funds:
Diablo Motors 6,933 - (726) 6,207
$ 5,571,197 $ 18,711 $ (57,151) $ 5,532,757
a) Greystone Homes, Inc.
In January 1996, the City entered into an Affordable Housing Agreement with Greystone Homes, Inc. The agreement provides for various restrictions on the project to facilitate the affordability of housing units to qualifying low and moderate-income residents. The agreement calls for the reduction of the purchase price of affordable units by $5,000. Upon initial sale of each affordable unit, the homebuyer will execute a promissory note to the City for $9,925, accruing annually compounded interest at 3 percent for a term not to exceed thirty years. The homebuyer agrees to repay the note, together with interest accrued and deferred, upon sale or transfer of the affordable unit. For each note, $4,925 represents the deferred payment of the San Ramon Valley Boulevard Widening Fee to the City.
b) American Baptist Homes
In April 2007, the former Redevelopment Agency approved a loan to American Baptist Homes in the amount of $5,500,000 for the development and improvement of real property for the purpose of developing 105 units of multifamily housing for seniors to very-low-income and low-income households in the City of San Ramon. The $5,500,000 includes a $750,000 loan from the State of California to the former Redevelopment Agency which was then loaned by the Agency to American Baptist Homes. The loan is due and payable in full to the San Ramon Housing Fund no later than fifty-five (55) years from the Completion Date.
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Packet Pg. 293 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 51 City of San Ramon
Notes to Financial Statements
June 30, 2021
c) REHAB Loan Program
In November 2007, the former Redevelopment Agency implemented a Home Rehabilitation Loan Program to fund existing Home Rehabilitation Grants and the Exterior Enhancement Rebate Program from the 2006 Housing Bond proceeds. The Housing Rehabilitation Loan Program proposes a $35,000 deferred loan be made available to medium, low, very-low, and extremely-low-income households at 3% interest. The loan would accrue interest for thirty years and be due upon sale, transfer, or refinance of the property. It is anticipated that repayments will start in year four of the program. Recycled funds will be used to fund future housing rehabilitation loans.
During fiscal year 2020-2021, no new loans were issued and $35,000 in loan payments were collected. d) Cree Court
The City provided home improvement loans to three homeowners within the City. These individuals make principal and interest payments through their property taxes. See Developer Agreement Note 14(d) for additional information.
e) Firearm Safe Loans
The City’s Home Safe and Vehicle Vault/Security System Loan Program provides a financing alternative for sworn San Ramon police officers wishing to purchase secure firearm storage products for their home and personal vehicles. As of June 30, 2021, there were $539 outstanding loans. f) Computer Loans
The City’s Computer Loan Program provides a financing alternative for employees wishing to purchase personal computer hardware and software similar to what they may be asked to use for City business. As of June 30, 2021, thirty City employees had loans outstanding totaling $16,086.
Note 6 - Loan Receivable from SuccessorAgency
During May 2021, the San Ramon Redevelopment Agency (the “RDA”) authorized a loan from the Low/Mod Housing Fund to the former Redevelopment Special Revenue Fund in the amount of $2,888,859 for five years at the City pool interest rate. These funds were to supplement the State’s Supplemental Educational Revenue Augmentation Fund for 2009-2010.
During April 2011, the former RDA authorized an additional loan from the Low/Mod Housing Fund to the Redevelopment Special Revenue Fund in the amount of $594,765 for five years at the City pool interest rate.
These additional funds were to supplement the State’s Supplemental Educational Revenue Augmentation Fund for2010-2011.
In fiscal year 2011-2012, the former RDA was dissolved (per Assembly Bill AB X1 26) and all loans were transferred from the RDA to the San Ramon Successor Agency (the “Successor Agency”). During the fiscal year 2012-2013, the City took over ownership of the Low/Mod Housing Fund from the Successor Agency, thereby taking ownership of the two loans. The fund name was changed to the San Ramon Housing Fund and the outstanding amount of the two loans totaled $359,887 at June 30, 2021.
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Packet Pg. 294 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 52 City of San Ramon
Notes to Financial Statements
June 30, 2021
Note 7 - Capital Assets
The following table presents the capital assets activities for the year ended June 30, 2021:
Balance at Transfers/ Balance at
July 1, 2020 Additions Retirements June 30, 2021
Governmental activities
Capital assets not being depreciated:
Land $ 42,275,381 $ - $ - $ 42,275,381
Construction in progress 11,044,657 3,671,992 - 14,716,649 Total capital assets not being depreciated 53,320,038 3,671,992 - 56,992,030 Capital assets being depreciated:
Park improvements 55,793,972 684,000 - 56,477,972
Buildings and improvements 93,450,223 - - 93,450,223
Machinery, improvements and equipment 12,523,870 916,165 (323,195) 13,116,840 Infrastructure:
Pavement/roads 210,181,605 1,156,400 - 211,338,005
Curb and gutters 36,125,035 425,312 - 36,550,347
Sidewalks 54,910,717 255,500 - 55,166,217
Catch basins 10,750,163 - - 10,750,163
Storm drains 81,627,683 648,800 - 82,276,483
V-ditches 1,176,594 - - 1,176,594
Street lights 34,796,619 - - 34,796,619
Traffic signals 23,114,947 - - 23,114,947
Bridges 29,214,041 - - 29,214,041
Culverts 10,512,415 - - 10,512,415
Retaining/soundwalls 4,635,017 - - 4,635,017
Drainage structures 3,055,100 - - 3,055,100
Fencing 1,470,809 - - 1,470,809
Landscaping 56,971,993 - - 56,971,993
Total capital assets being depreciated 720,310,803 4,086,177 (323,195) 724,073,785 Less accumulated depreciation for:
Park improvements (33,798,475) (2,011,430) - (35,809,905) Buildings and improvements (27,946,886) (2,237,632) - (30,184,518) Machinery, improvements and equipment (9,057,763) (1,024,290) 315,805 (9,766,248) Infrastructure:
Pavement/roads (141,449,662) (7,780,931) - (149,230,593) Curb and gutters (14,228,302) (588,258) - (14,816,560)
Sidewalks (34,704,558) (1,582,036) - (36,286,594)
Catch basins (4,555,274) (215,003) - (4,770,277)
Storm drains (30,897,769) (1,645,530) - (32,543,299)
V-ditches (471,756) (21,499) - (493,255)
Street lights (18,899,014) (802,274) - (19,701,288)
Traffic signals (15,387,278) (422,576) - (15,809,854)
Bridges (6,135,321) (584,281) - (6,719,602)
Culverts (2,354,098) (210,248) - (2,564,346)
Retaining/soundwalls (2,242,020) (185,401) - (2,427,421) Drainage structures (545,476) (61,102) - (606,578)
Fencing (668,159) (73,540) - (741,699)
Landscaping (25,803,165) (2,248,940) - (28,052,105)
Total accumulated depreciation (369,144,976) (21,694,971) 315,805 (390,524,142) Net Capital assets being depreciated 351,165,827 (17,608,794) (7,390) 333,549,643 Governmental activity capital assets, net $ 404,485,865 $ (13,936,802) $ (7,390) $ 390,541,673
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Packet Pg. 295 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 53 City of San Ramon
Notes to Financial Statements
June 30, 2021
Depreciation expense is charged to functions and programs based on their usage of the related assets. The amounts allocated to each function or programs are as follows:
Governmental Activities Amount
General government $ 356,177
Community development 132,652
Police 128,866
Public works 18,606,038
Parks and community services 1,446,948
Internal service funds 1,024,290
$ 21,694,971
Note 8 - Long-Term Debt
Governmental Activities:
Long-term debt for the year ended June 30, 2021 is as follows:
Amount due
Balance Balance within one
July 1, 2020 Additions Retirements June 30, 2021 year
Certificates of Participation:
2011 COPS #12 Refunding Bonds $ 2,805,000 $ - $ (1,455,000) $ 1,350,000 $ 430,000 2019 COPS #13 20,590,000 - (695,000) 19,895,000 725,000 Premium on 2011 COPS #12 178,445 - (44,611) 133,834 44,611 Premium on 2019 COPS #13 3,353,749 - (32,436) 3,321,313 73,377 Pension Obligation Bonds 15,070,000 - (430,000) 14,640,000 455,000 Direct-Borrowing:
Bank of America Capital Lease - LED Lighting 1,233,404 - (252,583) 980,821 267,841 Total Debt $ 43,230,598 $ - $ (2,909,630) $ 40,320,968 $ 1,995,829 a) 2011 Certificates of Participation (COP #12)
On July 12, 2011, the San Ramon Public Financing Authority issued $11,585,000 of refunding certificates of participation. These certificates were issued to repay the City’s 2001 Certificates of Participation in the amount of $8,415,000 and the City’s 1996 Certificates of Participation in the amount of $4,915,000. The 1996 and 2001 Certificates financed the expansion of Central Park and construction of the Community Center. As a result of this current refunding, the refunded bonds are considered to be defeased and the liability has been removed from the statement of net position. Interest on the certificates accrues at 2.50% to 5.00% and is payable semiannually on June 1 and December 1. Principal is payable each June 1.
The reacquisition price exceeded the net carrying amount of the old debt by $364,212, resulting in a deferred charge on refunding. This amount, with a balance of $113,834 as of June 30, 2021, is being netted against the new debt and amortized over the remaining life of the new debt, which is shorter than the life of the refunded debt and recorded as a deferred outflow of resources on the Statement of Net Position. Original deferred charge is $364,212 amortized over the remaining life of the debt.
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Packet Pg. 296 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 54 City of San Ramon
Notes to Financial Statements
June 30, 2021
Debt service payments on the 2011 Certificates of Participation will be made from a debt service fund. Annual debt service requirements to maturity are as follows:
For the Year Ending
June 30 Principal Interest Total
2022 $ 430,000 $ 65,150 $ 495,150
2023 450,000 43,650 493,650
2024 470,000 21,150 491,150
Total 1,350,000 $ 129,950 $ 1,479,950
Plus: Premium on debt 133,834
$ 1,483,834
2011 COP #12 Refunding
b) 2019 Certificates of Participation (COP #13)
On October 17, 2019, the City of San Ramon issued $20,990,000 of certificates of participation. These certificates were issued to acquire, construct and improve multiple capital improvement projects. Interest on the certificates accrues at 3.0% to 5.0% and is payable semiannually on June 1 and December 1. Principal is payable each June 1.
Debt service payments on the 2019 Certificates of Participation will be made from a debt service fund. Annual debt service requirements to maturity are as follows:
For the Year Ending
30-Jun Principal Interest Total
2022 $ 725,000 $ 875,700 $ 1,600,700
2023 760,000 839,450 1,599,450
2024 800,000 801,450 1,601,450
2025 840,000 761,450 1,601,450
2026 880,000 719,450 1,599,450
2027-2031 5,110,000 2,891,250 8,001,250
2032-2036 6,335,000 1,669,200 8,004,200
2037-2039 4,445,000 360,200 4,805,200
Total 19,895,000 $ 8,918,150 $ 28,813,150
Plus: Premium on debt 3,321,313
$ 23,216,313
2019 COP #13
10.4.a
Packet Pg. 297 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 55 City of San Ramon
Notes to Financial Statements
June 30, 2021
c) Pension Obligation Bonds
On January 21, 2010, taxable pension obligation bonds in the amount of $17,650,000 were issued to prepay the unfunded CalPERS pension obligation. Interest on the bonds accrues at 4 to 6.4 percent and is payable semiannually on June 1 and December 1. Principal is payable each June 1. Term bonds maturing February 1, 2039 are subject to mandatory sinking fund redemption at par commencing June 1,2015.
Debt service payments on the Pension Obligation Bonds will be made from a debt service fund. Annual debt service requirements to maturity are as follows:
For the Year Ending
30-Jun Principal Interest Total
2022 $ 455,000 $ 936,960 $ 1,391,960
2023 485,000 907,840 1,392,840
2024 515,000 876,800 1,391,800
2025 550,000 843,840 1,393,840
2026 585,000 808,640 1,393,640
2027-2031 3,535,000 3,432,320 6,967,320
2032-2036 4,820,000 2,145,280 6,965,280
2037-2039 3,695,000 482,880 4,177,880
Total $ 14,640,000 $ 10,434,560 $ 25,074,560
2010 Taxable Pension Obligation Bonds
d) Bank of America Capital Lease
On June 28, 2012, the City entered into a twelve-year lease agreement in the amount of $2,687,302 for the lease/purchase of LED lights for the Citywide lighting project, which had a net book value of $2,501,504 at June 30, 2021. The total monthly payments range from $18,105 to $25,940 including interest at 2.34%. Annual debt service requirements to maturity are as follows:
For the Year Ending
30-Jun Principal Interest Total
2022 $ 267,840 $ 20,117 $ 287,957
2023 283,738 13,681 297,419
2024 300,300 6,865 307,165
2025 128,943 755 129,698
Total $ 980,821 $ 41,418 $ 1,022,239
Bank of America Capital Lease
10.4.a
Packet Pg. 298 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 56 City of San Ramon
Notes to Financial Statements
June 30, 2021
Fiduciary Funds:
The City is serving as a successor agency to the Redevelopment Agency which has long-term debt for the year ended June 30, 2021 as follows:
Amount due
Balance Balance within one
July 1, 2020 Additions Retirements June 30, 2021 year
2006 Tax Allocation Revenue Bonds, Series A $ 20,889,157 $ 977,660 $ (1,300,000) $ 20,566,817 $ 645,778 2015 Subordinate Tax Allocation Refunding Bonds, Series A 32,390,000 - (1,765,000) 30,625,000 1,850,000 2015 Subordinate Tax Allocation Refunding Bonds, Series B 12,550,000 - (345,000) 12,205,000 355,000 Subtotal 65,829,157 977,660 (3,410,000) 63,396,817 2,850,778 Premium on Debt 2,514,005 - (139,667) 2,374,338 139,667 Discount on Debt (217,220) - 12,068 (205,152) (12,068)
Total Debt $ 68,125,942 $ 977,660 $ (3,537,599) $ 65,566,003 $ 2,978,377 a) 2006 Tax Allocation Revenue Bonds, Series A
On October 11, 2006, the San Ramon Public Financing Authority issued 2006 Tax Allocation Revenue Bonds, Series A, consisting of $ 19,535,000 amount of Current Interest Bonds and $12,331,570 initial principal amount of Capital Appreciation Bonds. These Bonds were issued to finance redevelopment projects and pay costs of the Bonds issuance. Interest on the certificates accrues at 4.49% to 4.87% and is payable semiannually on February 1 and August 1. Principal is payable each February 1. The current interest portion was refunded by the 2015 Subordinate Tax Allocation Refunding Bonds, Series A.
Debt service payments on the 2006 Tax Allocation Revenue Bonds, Series A, will be made from the fiduciary fund. Annual debt service requirements to maturity are as follows:
Principal Interest to Maturity Total
2022 $ 645,778 $ 649,222 $ 1,295,000
2023 615,459 684,541 1,300,000
2024 582,595 712,405 1,295,000
2025 766,914 1,028,086 1,795,000
2026 729,273 1,065,727 1,795,000
2027-2031 4,849,066 9,355,934 14,205,000
2032-2033 2,049,522 5,020,478 7,070,000
10,238,607 $ 18,516,393 $ 28,755,000
Accretion to date 10,328,210
$ 20,566,817
10.4.a
Packet Pg. 299 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 57 City of San Ramon
Notes to Financial Statements
June 30, 2021
b) 2015 Subordinate Tax Allocation Refunding Bonds, Series A On June 4, 2015, the Successor Agency of the Redevelopment Agency has issued 2015 Subordinate Tax Allocation Refunding Bonds, Series A, for $33,860,000. The Bonds were issued to prepay all amounts outstanding under the 1998 Tax-Exempt Loan and the 2004 Tax-Exempt Loan and the portion of the 2006 TaxExempt Loan. Interest on the bonds accrues at 4 to 5 percent and is payable semiannually on February 1 and August 1. Principal is payable each February 1.
Debt service payments on the 2015 Subordinate Tax Allocation Refunding Bonds, Series A, will be made from the fiduciary fund. Annual debt service requirements to maturity are as follows:
Principal Interest to Maturity Total
2022 $ 1,850,000 $ 1,531,250 $ 3,381,250
2023 1,945,000 1,438,750 3,383,750
2024 2,040,000 1,341,500 3,381,500
2025 1,520,000 1,239,500 2,759,500
2026 1,595,000 1,163,500 2,758,500
2027-2031 3,430,000 4,820,750 8,250,750
2032-2036 10,410,000 4,058,000 14,468,000
2037-2039 7,835,000 592,250 8,427,250
$ 30,625,000 $ 16,185,500 $ 46,810,500
c) 2015 Subordinate Tax Allocation Refunding Bonds, Series B On June 4, 2015, the Successor Agency of the Redevelopment Agency has issued 2015 Subordinate Tax Allocation Refunding Bonds, Series B, for $16,515,000. The Bonds were issued to prepay the 2006 Taxable Housing Loan and the 2006 Taxable Non-Housing Loan. The remaining proceeds of the 2015 Bonds were used to purchase a municipal bond insurance policy and a debt service reserve insurance policy for the 2015 Bonds.
Interest on the bonds accrues at 1 to 4 percent and is payable semiannually on February 1 and August 1.
Principal is payable each February 1.
Debt service payments on the 2015 Subordinate Tax Allocation Refunding Bonds, Series B, will be made from the fiduciary fund. Annual debt service requirements to maturity are as follows:
Principal Interest to Maturity Total
2022 $ 355,000 $ 549,625 $ 904,625
2023 365,000 538,088 903,088
2024 375,000 525,313 900,313
2025 520,000 511,250 1,031,250
2026 540,000 490,450 1,030,450
2027-2031 3,410,000 2,065,700 5,475,700
2032-2036 4,520,000 1,167,788 5,687,788
2037-2039 2,120,000 152,238 2,272,238
$ 12,205,000 $ 6,000,452 $ 18,205,452
10.4.a
Packet Pg. 300 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 58 City of San Ramon
Notes to Financial Statements
June 30, 2021
Note 9 - Net Position and FundBalances
a) Net Position
The government-wide and proprietary fund financial statements utilize a net position presentation. Net position is categorized as invested in capital assets (net of related debt), restricted, and unrestricted. • Net Investment in Capital Assets – groups all capital assets, including infrastructure, into one component of net position. Accumulated depreciation and the outstanding balances of debt that are attributable to the acquisition, construction, or improvement of these assets reduce the balance in this category. • Restricted – reflects net position that are subject to constraints either (1) externally imposed by creditors, grantors, contributors, or laws or regulations of other governments, or (2) imposed by law through constitutional provisions or enabling legislation. Enabling legislation authorizes the City to assess, levy, charge, or otherwise mandate payment of resources and includes a legally enforceable requirement that those resources be used only for the specific purposes stipulated in the legislation. A legally enforceable enabling legislation restriction is one that a party external to a government – such as citizens, public interest groups, or the judiciary – can compel a government to honor. • Unrestricted – represents net position of the City that are not restricted for any project or purpose.
10.4.a
Packet Pg. 301 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 59 City of San Ramon
Notes to Financial Statements
June 30, 2021
b) Fund Balances
As prescribed by generally accepted accounting principles, governmental funds report fund balance in classifications based primarily on the extent to which the City is bound to honor constraints on the specific purposes for which amounts in the funds can be spent. As of June 30, 2021, fund balances for government funds are made up of thefollowing:
• Nonspendable – includes amounts that are (a) not in spendable form, or (b) legally or contractually required to be maintained intact. The “not in spendable form” criterion includes items that are not expected to be converted to cash, for example: inventories, prepaid amounts, and long-term notesreceivable. • Restricted – includes amounts that can be spent only for the specific purposes stipulated by external resource providers, constitutionally or through enabling legislation. Restrictions may effectively be changed or lifted only with the consent of resource providers.
• Committed – includes amounts that can only be used for the specific purposes determined by a formal action of the City’s highest level of decision-making authority, through the adoption of a resolution.
Commitments may be changed or lifted only by the City taking the same formal action that imposed the constraint originally. As of June 30, 2021, the City has committed fund balance in the amount of $517,034.
Of the committed fund balance, $299,243 was held in the Planning Cost Recovery Fund and $217,791 in the Geographic Information System Fund. The City established the Planning Cost Recovery Fund to separate the General Plan Recovery Fee that is collected with each building permit to cover the costs of ongoing implementation, monitoring, and maintenance of the GeneralPlan. • Assigned – comprises amounts intended to be used by the City for specific purposes that are neither restricted nor committed. Intent is expressed by (a) the City Council or (b) a body (for example: a budget or finance committee) or the City Manager to which the City Council has delegated the authority to assign amounts to be used for specific purposes.
• Unassigned – is the residual classification for the General Fund and residual fund deficits, if any, of other governmental funds. Unassigned amounts are technically available for any purpose.
In circumstances when an expenditure is made for a purpose for which amounts are available in multiple fund balance classifications, fund balance is generally depleted in the order of restricted, committed, assigned, and unassigned.
10.4.a
Packet Pg. 302 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 60 City of San Ramon
Notes to Financial Statements
June 30, 2021
Fund balances for all the major and nonmajor governmental funds as of June 30, 2021, are as follows:
Other
General Dougherty Capital Governmental
Classifications Fund Valley Improvements Funds Total
Nonspendable:
Notes and Loans $ 16,625 $ - $ - $ - $ 16,625
Prepaids 123,229 - - - 123,229
Total Nonspendable 139,854 - - - 139,854
Restricted for:
Community development projects - - - 1,901,918 1,901,918 Streets and roads projects - - - 21,122,077 21,122,077
Developers related activities - - - 1,789,988 1,789,988 Debt services - - - 3,627,896 3,627,896
Park and facilities projects - - - 530,279 530,279
Lighting and landscape projects - - - 4,371,114 4,371,114 Capital projects - - 32,886,529 - 32,886,529
Police services - - - 335,631 335,631
Solid waste projects - - - 1,193,571 1,193,571
Housing projects - - - 9,601,937 9,601,937
Total Restricted - - 32,886,529 44,474,411 77,360,940
Committed to:
Community development projects - - - 299,243 299,243
Capital projects - - - 217,791 217,791
Total Committed - - - 517,034 517,034
Unssigned for:
Expenditure Volatility 4,000,000 - - - 4,000,000
Future Revenue Stabilization 10,700,000 - - - 10,700,000 Remaining unassigned 4,381,406 - - - 4,381,406
Total Unassigned 19,081,406 - - - 19,081,406
Total Fund Balances $ 4,139,854 $ - $ 32,886,529 $ 44,991,445 $ 97,099,234 c) Policies
The City’s General Fund Reserve Policy requires the General Fund reserves to maintain a minimum of 36% of General Fund Operating Expenditures and the inclusion of the annual transfer payment from the General Fund to the Dougherty Valley Fund in the calculation. The reserve balance for the year ended June 30, 2021 was $19,221,864. The uses of these reserves are restricted unless approved by resolution of the City Council.
10.4.a
Packet Pg. 303 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 61 City of San Ramon
Notes to Financial Statements
June 30, 2021
Note 10 - Pension Plans
The City reported pension amounts on the financial statements are follows:
Net Deferred Deferred
Pension Inflows of Outflows of Pension
Liability Resouces Resouces Expense
Miscellaneous Agent Plan-City $ 33,249,051 $ 210,727 $ 9,673,017 $ 8,275,568 Safety Cost Sharing-City 8,958,459 30,505 5,057,396 4,415,614 Miscellaneous Cost Sharing-DRFA 57,567 7,273 11,768 7,122 Safety Cost Sharing-DRFA 4,976,352 653,967 1,212,962 715,606 Total $ 47,241,429 $ 902,472 $ 15,955,143 $ 13,413,910
a) General Information about the PensionPlans
Plan Descriptions – All qualified permanent and probationary employees are eligible to participate in the City’s separate Safety (police) cost-sharing and Miscellaneous (all other) agent multiple-employer defined benefit pension plans, administered by the California Public Employees’ Retirement System (CalPERS), which acts as a common investment and administrative agent for its participating member employers. Benefit provisions under the Plans are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.
Benefits Provided – CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full-time employment. Members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of service. The death benefit is one of the following: The Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost-of-living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law.
10.4.a
Packet Pg. 304 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 62 City of San Ramon
Notes to Financial Statements
June 30, 2021
The Plans’ provisions and benefits in effect at June 30, 2020 (measurement date), are summarized as follows:
Prior to Between July 1, 2012 and On or after
Hire date July 1, 2012 January 1, 2013 January 1, 2013
Benefit formula 2.7% @ 55 2% @ 60 2% @ 62
Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments monthly for life monthly for life monthly for life Normal Retirement age 55 60 62
Monthly benefits, as a % of eligible compensation 2.0% to 2.7% 1.092% to 2.0% 1.0% to 2.0% Required employee contribution rates 8.00% 7.00% 6.25%
Required employer contribution rates (1) 11.887% 11.887% 11.887% Unfunded liability contribution (UAL) $2,146,656
(1) The unfunded liability contribution is the aggregate for all three Miscellaneous plans Prior to Between July 1, 2012 and On or after
Hire date July 1, 2012 January 1, 2013 January 1, 2013
Benefit formula 3% @ 50 3% @ 55 2.7% @ 57
Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments monthly for life monthly for life monthly for life Normal Retirement age 50 55 62
Monthly benefits, as a % of eligible compensation 3% 2.4% to 3.0% 2.0% to 2.7% Required employee contribution rates 9% 9% 13.750%
Required employer contribution rates 25.540% 22.397% 13.884% Unfunded liability contribution $494,750 $7,186 $4,133
Miscellaneous Safety
Prior to Prior to
Hire date July 1, 2012 July 1, 2012
Benefit formula 2% @ 60 3% @ 50
Benefit payments monthly for life monthly for life
Normal Retirement age 60 50
Unfunded liability contribution $16,688 $1,442,910
(2) The DRFA was terminated on June 30, 1997. City of San Ramon share the contributions requirements with City of Dublin at 42.49%.
Miscellaneous
Safety
Dougherty Regional Fire Authority (2)
b) City’s Miscellaneous Agent Multiple-Employer Defined Benefit Pension Plan Employees Covered – As of the most recent June 30, 2019 actuarial valuation date, the following employees were covered by the benefit terms for the Miscellaneous (agent multiple-employer plan):
Miscellaneous
Inactive employees or beneficiaries currently receiving benefits 178 Inactive employees entitled to but not yet receiving benefits 206 Active employees 213
597
10.4.a
Packet Pg. 305 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 63 City of San Ramon
Notes to Financial Statements
June 30, 2021
Contributions – Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plan are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.
For the measurement period ended June 30, 2020, the City's contributions to the Plan were $3,979,613.
Net Pension Liability
The City’s net pension liability for each Plan is measured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability for each Plan is measured as of June 30, 2020, using an annual actuarial valuation as of June 30, 2019 rolled forward to June 30, 2020 using standard update procedures. A summary of principal assumptions and methods used to determine the net pension liability is shownbelow.
Changes in the Net Pension Liability
The changes in the Net Pension Liability for the Miscellaneous Plan at measurement date are as follows:
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability/(Asset)
Balance at June 30, 2019 $ 160,276,934 $ 133,667,292 $ 26,609,642 Changes in the year:
Service cost 3,722,031 - 3,722,031
Interest on the total pension liability 11,595,929 - 11,595,929 Differences between Expected and Actual Experience 3,309,316 - 3,309,316 Contribution - Employer - 3,979,613 (3,979,613)
Contribution - Employees - 1,545,644 (1,545,644)
Net investment income - 6,651,048 (6,651,048)
Benefit payments, including Refunds of Employee
Contributions (6,532,902) (6,532,902) -
Administrative expenses - (188,438) 188,438
Net changes 12,094,374 5,454,965 6,639,409
Balance at June 30, 2020 $ 172,371,308 $ 139,122,257 $ 33,249,051
10.4.a
Packet Pg. 306 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 64 City of San Ramon
Notes to Financial Statements
June 30, 2021
Sensitivity of the Net Pension Liability to Changes in the Discount Rate – The following presents the net pension liability of the City for the Miscellaneous Plan, calculated using the discount rate for each Plan, as well as what the City’s net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate:
Miscellaneous
1% Decrease 6.15%
Net Pension Liability $ 56,994,088
Current Discount Rate 7.15%
Net Pension Liability $ 33,249,051
1% Increase 8.15%
Net Pension Liability $ 13,618,727
Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions For the year ended June 30, 2021, the City recognized pension expense of $8,275,568. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions subsequent to measurement date $ 4,640,927 $ - Changes in assumptions - (210,727)
Differences between actual and expected experience 3,749,196 - Net differences between Projected and Actual Earnings
on Pension Plan Investments 1,282,894 -
Total $ 9,673,017 $ (210,727)
$4,640,927 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2022. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:
Year Ended Annual
June 30 Amortization
2022 $ 1,246,261
2023 1,740,782
2024 1,263,762
2025 570,558
10.4.a
Packet Pg. 307 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 65 City of San Ramon
Notes to Financial Statements
June 30, 2021
c) City’s Safety Cost-Sharing Multiple-Employer Defined Benefit Plan Contributions – Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plan are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.
For the year ended June 30, 2021, the contributions recognized as part of pension expense for the Safety (costsharing plan) were as follows:
Tier 1 Tier 2 PEPRA Total
Contributions - employer $ 1,781,560 $ 585,004 $ 324,191 $ 2,690,755 Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions – For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions and pensions expense, information about the fiduciary net position of the Plans and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by the CalPERS Financial Office. For this purpose, benefit payments (including refunds of employee contributions) are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value.
As of June 30, 2021, the City reported net pension liabilities of $8,958,459 for its proportionate shares of the net pension liability of the Plan.
The City’s net pension liability for the Plan is measured as the proportionate share of the net pension liability.
The net pension liability of the Plan is measured as of June 30, 2020, and the total pension liability for the Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2019 rolled forward to June 30, 2020 using standard update procedures. The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined. The City’s proportionate share of the net pension liability for the Plan as of June 30, 2019 and 2020 measurement dates was as follows:
Safety
Proportion - June 30, 2019 0.11920%
Proportion - June 30, 2020 0.13446%
Change - Increase (Decrease) 0.01527%
10.4.a
Packet Pg. 308 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 66 City of San Ramon
Notes to Financial Statements
June 30, 2021
For the year ended June 30, 2021, the City recognized a pension expense of $4,415,614. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the followingsources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions subsequent to measurement date $ 2,690,755 $ - Differences between actual and expected experience 694,683 - Changes in assumptions - (29,841)
Net differences between projected and actual earnings
on plan investments 194,705 -
Change in employer's proportion and differences between the employer’s contributions and the employer’s
proportionate share of contributions 1,477,253 (664)
Total $ 5,057,396 $ (30,505)
$2,690,755 was reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2022.
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense asfollows:
Year Ended Annual
June 30 Amortization
2022 $ 1,069,557
2023 775,020
2024 394,001
2025 97,558
Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate – The following presents the City’s proportionate share of the net pension liability for each Plan, calculated using the discount rate for each Plan, as well as what the City’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate:
Safety
1% Decrease 6.15%
Net Pension Liability $ 16,608,028
Current Discount Rate 7.15%
Net Pension Liability $ 8,958,459
1% Increase 8.15%
Net Pension Liability $ 2,681,264
10.4.a
Packet Pg. 309 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 67 City of San Ramon
Notes to Financial Statements
June 30, 2021
d) Dougherty Regional Fire Authority Cost-Sharing Multiple-Employer Defined Benefit Plans Dougherty Regional Fire Authority Background - In 1988, the cities of Dublin and San Ramon formed Dougherty Regional Fire Authority (DRFA), a Joint Powers Agency (JPA). The JPA provided fire services to all of Dublin and the southern portion of San Ramon. In 1997, the two cities decided to change how Fire Services would be provided in each City. As a result, JPA personnel were absorbed by the two new service providers pursuant to a mutual agreement. The JPA has remained intact to conclude the financial affairs of the entity. This includes residual retiree obligations and workers compensation liabilities. San Ramon's share of all DRFA close-out expenses, including retiree medical benefits, is 42.49% of the actual costs, with the City of Dublin paying 57.51% of the costs. The two cities have entered into a binding agreement to share these expenses on this basis. The City of San Ramon is presenting information only for its contractual share of the obligations.
Contributions – Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plan are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.
For the year ended June 30, 2021, the contributions recognized as part of pension expense for the DRFA Safety (cost-sharing plan) were as follows:
Miscellaneous Safety Total
Contributions - employer $ 7,091 $ 613,092 $ 620,183
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions – For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions and pensions expense, information about the fiduciary net position of the Plans and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by the CalPERS Financial Office. For this purpose, benefit payments (including refunds of employee contributions) are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value.
As of June 30, 2021, the City reported net pension liabilities of $57,567 and $4,976,352 for the Miscellaneous and Safety Plans, respectively, for its proportionate shares of the net pension liability of the Plans.
The City’s net pension liability for the Plans is measured as the proportionate share of the net pension liability.
The net pension liability of the Plans is measured as of June 30, 2020, and the total pension liability for the Plans used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2019 rolled forward to June 30, 2020 using standard update procedures. The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined.
10.4.a
Packet Pg. 310 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 68 City of San Ramon
Notes to Financial Statements
June 30, 2021
The City’s proportionate share of the net pension liability for the Plans as of June 30, 2019 and 2020 measurement dates was as follows:
Miscellaneous Safety
Proportion - June 30, 2019 0.00139% 0.07562%
Proportion - June 30, 2020 0.00321% 0.17579%
Change - Increase (Decrease) 0.00183% 0.10017%
For the year ended June 30, 2021, the City recognized a pension expense of $7,122 and $715,606 for the Miscellaneous and Safety plans, respectively. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions subsequent to measurement date $ 7,091 $ - Differences between actual and expected experience 2,967 - Changes in assumptions - (410)
Net differences between projected and actual earnings
on plan investments 1,710 -
Change in employer's proportion and differences between the employer’s contributions and the employer’s
proportionate share of contributions - (6,863)
Total $ 11,768 $ (7,273)
Deferred Outflows Deferred Intflows
of Resources of Resources
Pension contributions subsequent to measurement date $ 613,092 $ - Differences between actual and expected experience 385,891 - Changes in assumptions - (16,576)
Net differences between projected and actual earnings
on plan investments 108,157 -
Change in employer's proportion and differences between the employer’s contributions and the employer’s
proportionate share of contributions 105,822 (637,391)
Total $ 1,212,962 $ (653,967)
Miscellaneous
Safety
$7,091 and $613,092 were reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2022.
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Packet Pg. 311 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 69 City of San Ramon
Notes to Financial Statements
June 30, 2021
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:
Year Ended Annual Year Ended Annual
June 30 Amortization June 30 Amortization
2022 $ (2,932) 2022 $ (124,511)
2023 (711) 2023 (6,658)
2024 225 2024 22,880
2025 822 2025 54,192
Miscellaneous Safety
Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate – The following presents the City’s proportionate share of the net pension liability for each Plan, calculated using the discount rate for each Plan, as well as what the City’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate:
Miscellaneous Safety
1% Decrease 6.15% 1% Decrease 6.15%
Net Pension Liability $ 84,099 Net Pension Liability $ 7,321,020 Current Discount Rate 7.15% Current Discount Rate 7.15% Net Pension Liability $ 57,567 Net Pension Liability $ 4,976,352 1% Increase 8.15% 1% Increase 8.15%
Net Pension Liability $ 35,644 Net Pension Liability $ 3,052,331
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Packet Pg. 312 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 70 City of San Ramon
Notes to Financial Statements
June 30, 2021
e) Information Common to the Miscellaneous and Safety Plans Actuarial Assumptions – For the measurement period ended June 30, 2020, the total pension liabilities were determined by rolling forward the June 30, 2019 total pension liability based on the following actuarial methods and assumptions:
Miscellaneous & Safety
Valuation Date June 30, 2019
Measurement Date June 30, 2020
Actuarial Cost Method Entry-Age Normal Cost Method
Actuarial Assumptions:
Discount Rate 7.15%
Inflation 2.50%
Payroll Growth 3.00%
Projected Salary Increase Varies by Entry Age and Service Investment Rate of Return 7.15% (1)
Mortality Derived using CalPERS Membership Data for all Funds (2) Post Retirement Benefit Increase Contract COLA up to 2.00% until Purchasing Power Protection Allowance Floor on Purchasing Power applies 2.50% thereafter. (1) Net of pension plan investment and administrative expenses, including inflation (2) The mortality table used was developed based on CalPERS' specific data. The table includes 15 years of mortality improvements using the Society of Actuaries Scale 90% of scale MP 2016. For more details on this table, please refer to the December 2017 experience study report (based on CalPERS demographic data from 1997 to 2015) that can be found on the CalPERS website.
Discount Rate – The discount rate used to measure the total pension liability for each Plan was 7.15%. The projection of cash flows used to determine the discount rate for each Plan assumed that contributions from all plan members in the Public Employees Retirement Fund (PERF) will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, each Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members for all plans in the PERF. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability for each Plan.
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Packet Pg. 313 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 71 City of San Ramon
Notes to Financial Statements
June 30, 2021
The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.
In determining the long-term expected rate of return, CalPERS took into account both short- term and long-term market return expectations as well as the expected pension fund cash flows. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calculated over the short-term (first 10 years) and the long-term (11+ years) using a building-block approach. Using the expected nominal returns for both short-term and long- term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equivalent to the single equivalent rate calculated above and adjusted to account for assumed administrativeexpenses.
The table below reflects the long-term expected real rate of return by asset class. The rate of return was calculated using the capital market assumptions applied to determine the discount rate and asset allocation.
These rates of return are net of administrative expenses.
New Strategic Real Return Real Return
Asset Class (a) Allocation Years 1 - 10(b) Years 11+(c) Global Equity 50.0% 4.80% 5.98%
Fixed Income 28.0% 1.00% 2.62%
Inflation Assets 0.0% 0.77% 1.81%
Private Equity 8.0% 6.30% 7.23%
Real Assets 13.0% 3.75% 4.93%
Liquidity 1.0% 0.00% -0.92%
100%
(a) In the System's financial statements, Fixed Income is included in Global Debt Securities; Liquidity is included in Short-term Investments; Inflation Assets are included in both Global Equity Securities and Global Debt Securities. (b) An expected inflation of 2.0% used for this period. (c) An expected inflation of 2.92% used for this period.
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Packet Pg. 314 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 72 City of San Ramon
Notes to Financial Statements
June 30, 2021
Pension Plan Fiduciary Net Position – Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports In January 2018, the City established a Section 115 Pension Trust with Public Agency Retirement Services (PARS).
PARS, the trust administrator, partners with U.S. Bank and High Mark Capital Management to provide trustee and investment advisory services, respectively. This trust was established to set aside moneys to meet the City’s future pension contributions or unfunded liabilities. Financial statements of PARS may be obtained from PARS, 4350 Von Karman Avenue, Suite 100, Newport Beach, CA 92660.
Note 11 - Post-Employment Health Care Benefits – Dougherty Regional FireAuthority The City provides certain health care benefits for Dougherty Regional Fire Authority retirees as required under contract signed with PERS and the dissolution agreement of the Authority. The cost of retiree health care benefits is recognized as expenditure as premiums are paid. For the year ended June 30, 2021, those cost totaled $68,640. See Note 12 for additional disclosures on the City retiree health care benefits.
Note 12 - Post-Employment HealthcarePlan
Plan Description
The City administers an agent multiple-employer defined benefit healthcare plan (the plan) which provides medical insurance benefits to eligible retirees and their spouses in accordance with various labor agreements.
The City reports the financial activity of the plan as a trust fund, and no separate financial report is prepared.
Funding Policy and Benefits Provided: The contribution requirements of plan members and the City are established and may be amended by the City Council. The required contribution is based on projected pay-asyou-go financing requirements, with an additional amount to prefund benefits as determined annually by the City Council. For fiscal year 2020-2021, the City contributed $1,509,925 for current premiums (90% of total premiums). Plan members receiving benefits contributed $168,563 (approximately 10% of total premiums) through their required contribution. The City pays up to the entire cost of health benefits for eligible retirees and their spouses until age 65 subject to the City’s vesting schedule. After age 65, the City pays up to $443 per month (2020 rate, 2% annual increase) for any health coverage, also subject to the vesting schedule. The Plan does not issue separate financial statements
Employees Covered by Benefit Terms: Employees are eligible for retiree health benefits if they retire from the City on or after age 50 with at least 4 years of service and are eligible for a PERS pension. Membership of the plan consisted of the following as of the measurement date June 30, 2020:
Retirees 122
Active plan members 261
383
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Packet Pg. 315 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 73 City of San Ramon
Notes to Financial Statements
June 30, 2021
Net OPEB Liability
Actuarial Methods and Assumptions: The City’s net OPEB liability was measured as of June 30, 2020 and the total OPEB liability used to calculate the net OPEB liability was determined by actuarial valuation dated June 30, 2019 that was rolled forward using standard update procedures to determine the total OPEB liability as of June 30, 2020, based on the following actuarial methods and assumptions:
Actuarial Assumptions
Valuation Date June 30, 2019
Measurement Date June 30, 2020
Actuarial Cost Method Entry Age Normal Cost, level percent of pay Actuarial Assumptions:
Discount Rate 6.50%
Inflation 2.50%
Mortality Rate Rates based on the statistics taken from the 2017 CalPERS experience study. The mortality rates include an assumed improvement in future mortality based on Scale BB projected to 2028.
Healthcare Trend Rate 4.50% - 6.00%
The long-term expected rate of return on OPEB plan investments was determined using a building- block method in which expected future real rates of return (expected returns, net of OPEB plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:
Long-Term
Target Expected Real
Asset Class Allocation Rate of Return
Global Equities 40.0% 7.92%
U.S. Fixed Income 39.0% 6.83%
Treasury Inflation-Protected Securities 10.0% 3.95%
Real Estate Investment Trusts 8.0% 7.56%
Commodities 3.0% 5.47%
100%
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Packet Pg. 316 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 74 City of San Ramon
Notes to Financial Statements
June 30, 2021
Discount Rate
The discount rate used to measure the total OPEB liability was 6.50%. The projection of cash flows used to determine the discount rate assumed that City contributions will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries. Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEBliability.
Changes in Net OPEB Liability
The changes in the net OPEB liability were as follows:
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability
(a) (b) (a) - (b)
Balance at June 30, 2019 $ 32,681,691 $ 31,119,625 $ 1,562,066 Changes Recognized for the Measurement Period:
Service cost 979,601 - 979,601
Interest on the total OPEB liability 2,133,805 - 2,133,805 Benefit payments (1,667,043) (1,667,043) -
Contributions from the employer - 1,667,043 (1,667,043) Net investment income - 1,685,464 (1,685,464)
Administrative expenses - (15,625) 15,625
Net changes 1,446,363 1,669,839 (223,476)
Balance at June 30, 2020 (Measurement Date) $ 34,128,054 $ 32,789,464 $ 1,338,590 Increase (Decrease)
Sensitivity of Net OPEB Liability to Changes in the Discount Rate and Healthcare Cost Trend Rates The following presents the net OPEB liability (asset) of the City, as well as what the City's net OPEB asset would be if it were calculated using a discount rate that is 1-percentage-point higher or net OPEB liability if it were calculated using a discount rate this is 1- percentage-point lower than the current discount rate:
Discount Rate -1% Current Discount Rate Discount Rate +1%
5.50% 6.50% 7.50%
$ 4,732,987 $ 1,338,590 $ (1,572,185)
Net OPEB Liability/(Asset)
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Packet Pg. 317 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 75 City of San Ramon
Notes to Financial Statements
June 30, 2021
The following presents the net OPEB liability (asset) of the City, as well as what the City's net OPEB asset would be if it were calculated using healthcare cost trend rates that 1-percentage-point lower or net OPEB liability would be if it were calculated using a healthcare cost trend rate that is 1-percentage-point higher than the current discount rate:
Current Healthcare Cost
1% Decrease Trend Rates 1% Increase
3.50% 4.50% 5.50%
$ (2,324,051) $ 1,338,590 $ 5,706,796
Net OPEB Liability/(Asset)
OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB For the year ended June 30, 2021, the City recognized OPEB expense of $1,270,662. At June 30, 2021, the City reported deferred outflows and inflows of resources related to OPEB from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Employer contributions made subsequent to the measurement date $ 1,307,273 $ - Differences between actual and expected experience 139,401 - Changes of assumptions 563,608 -
Net differences between projected and actual earnings on plan investments 94,936 -
Total $ 2,105,218 $ -
$1,307,273 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the OPEB liability in the year ended June 30, 2022. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized as part of OPEB expense as follows:
Year Ended Annual
June 30 Amortization
2022 $ 110,226
2023 147,034
2024 132,558
2025 173,796
2026 117,169
Thereafter 117,162
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Packet Pg. 318 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 76 City of San Ramon
Notes to Financial Statements
June 30, 2021
Note 13 - Risk Management
Description of Participation in the Municipal PoolingAuthority The City is exposed to various risks of less related to torts; theft or damage to, and destruction of assets; natural disasters; errors and omissions; injury to employees; and unemployment claims. The City is a member of the Municipal Pooling Authority (MPA). MPA is comprised of over 19 California member cities and is organized under a Joint Powers Agreement pursuant to the California Government Code. The purpose of the MPA is to arrange and administer programs of insurance for the pooling of self-insured losses and to purchase excess insurance coverage. Each member city has a representative on the Board of Directors. The accounting methods used by the MPA are further described at Note 1(m).
The City pays an annual premium to the MPA for its Liability ($29 million coverage, $5,000 deductible), Fire and Property ($1 billion coverage, $25,000 deductible all-risk and copper claims, $150,000 deductible water intrusions claims, $100,000 minimum deductible flood claims per occurrence, except Zone A & V, which have $250,000 minimum deductible and $25 million limit, others $25,000 deductible), Auto ($250,000 coverage; police $3,000 deductible; all others $2,000 deductible), Workers’ Compensation (Statutory limit, workers compensation liability equals $4.5 million, $500,000 insured retention, zero deductible), Cyber Liability ($2 million coverage, $50,000 deductible), Pollution Liability ($1 million per pollution condition, $100,000 deductible), and Boiler & Machinery ($100 million, $5,000 deductible). The Agreement provides that the MPA will be self-sustaining through member premiums and assessments. The MPA purchases commercial insurance in excess of those amounts covered by the MPA’s self-insurancepool There have been no significant reductions in any of the City's areas of insurance coverage and no settlement amounts have exceeded coverage in the past three years. Audited financial information can be obtained from the MPA at 1911 San Miguel Drive, Walnut Creek, CA 94596 and the latest audited annual financial information are available online at https://www.mpa-nc.com/.
Liability for Uninsured Claims
The City provides for the uninsured portion of claims and judgments in the General Fund and Insurance Liability Fund. Claims and Judgments, including a provision for claims incurred but not reported, are recorded when a loss is deemed probably of assertion and the amount of the loss is reasonably determinable. The City’s liability for uninsured claims at June 30, 2021 was estimated by management and based on MPA’s claims experience, and was computed as follows:
Claims
Liability
Beginning claims payable balance $ 54,489
Claims incurred in current year 79,048
Claims paid (37,247)
Ending claims payable balance $ 96,290
Current portion $ 96,290
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Packet Pg. 319 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 77 City of San Ramon
Notes to Financial Statements
June 30, 2021
Note 14 - Developer Agreements and Tax SharingAgreements a) Bishop Ranch Agreement
In November 1987, the City entered into an annexation and development agreement with Sunset Development Company (et al.) relative to the development known as Bishop Ranch. The agreement was subsequently amended eight different times (September 1991, September 1996, April 1998, May 2002, January 2008, December 2008, December 2009, and August 2014). The agreement and amendments outline provisions for the development of the 585-acre business park community known as Bishop Ranch. The development included the installation of numerous public improvements that serve both the project and adjoining areas of the City.
In the Third Amendment dated April 14, 1998, the developer of Bishop Ranch agreed to dedicate 11.19 acres of land to the City when building permits are obtained for the fourth office building of the BR# 3 office project by June 30, 2001, whichever shall occur first. This transaction was consummated on June 29, 2001. The use of the property is restricted by the development agreement and limited to the development of public buildings. If the City elected to sell or transfer any or all of its interests in the property at any time before December 31, 2010, the developer had the right to purchase the property from the City for $5,000,000 (with a consumer price index escalation clause) plus the actual out-of-pocket costs incurred by the City in constructing improvements to the property. If the City did not commence construction of a civic center complex on the property by December 31, 2010, the developer had until July 1, 2011 to repurchase the property under the same terms as the pre December 31, 2010 right to purchase clause.
The Fifth Amendment dated January 25, 2008 was entered into in connection with the approval of the City Center Project and contained a termination clause if certain property transfers between the Bishop Ranch Ownership and the City, for construction of the City Center Project, did not occur prior to January 1, 2010.
In the Seventh Amendment dated December 15, 2009, the termination date was extended to January 1, 2015 and Sunset’s right to exercise its option for reacquisition of the dedicated land was extended to July 1, 2015.
The Eighth Amendment dated August 13, 2014 was entered into to incorporate the amended City Center approvals into the Project, vest the rights to proceed with development of the City Center Project on portions of the project site covered by the development agreement, and to clarify the transfer of ownership, thus ensuring the terms of the development agreement, and all its amendments, were extended to December 31, 2020. On January 21, 2020, the Ninth Amendment was executed, extending the Development Agreement to December 31, 2025.
The CityWalk Master Plan was approved on September 8, 2020. With the long-term buildout of the CityWalk Master Plan, the City and Bishop Ranch entered into three development agreements, specific to the three development areas BR 1A, BR 3A and BR 2600. The Agreements replaced the prior Agreements with the exception of BR 1B, which remains with the current property owner under the prior City Center Approval for Medical Office Use. The Agreements are identical for each property, with minor changes to address individual ownership, to allow the individual ownerships to proceed independently without the need to seek approval from other property owners within the CityWalk project or their respective lenders. As negotiated, the Agreements have terms of 25 years, and provide the vested right that the project may proceed independently in accordance with the terms and conditions of the project approvals.
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Packet Pg. 320 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 78 City of San Ramon
Notes to Financial Statements
June 30, 2021
b) Bishop Ranch Tax Exchange Agreement with Contra Costa County On June 3, 1986 pursuant to resolutions adopted by the City Council of the City San Ramon and the Board of Supervisors of the County of Contra Costa, the City and County entered into the Master Property Tax Exchange Agreement for Allocation of Property Tax between the two agencies upon annexations of County Service Area to the City (LAFCO Nos 87-58 and 87-60).
On December 1, 1987, the City and County entered into the first amendment to the Master Agreement to specify provisions which govern the administration of property, sales, and transient occupancy taxes and for the sharing of tax revenues in the 585-acre business park known as the Bishop Ranch.
On July 24, 2007, a second amendment was made to exclude the residential component of the City Center Project from provisions of the Master Property Tax Exchange Agreement for a period of 25 years. The second amendment terminated automatically on November 2, 2010 when construction of the City Center Project was delayed by the economic downturn.
On June 14, 2016, a third amendment was made to continue the operative terms of the second amendment to exclude residential units from the tax sharing formula and facilitate the development of jobs and housing in the revised City Center Project area.
The agreement provides that the property tax revenue allocation to the City for parcels in the Bishop Ranch business park would be reduced by 50% of the total sales and transient occupancy taxes collected in the Bishop Ranch area. The agreement limits the amount of property tax revenues transferred to the County to the amount of property taxes allocable to the City for the Bishop Ranch area. During fiscal year 2021, the amount of property taxes received by the Contra Costa County under the agreement was$1,824,274. c) Dougherty Valley Development Memorandum of Understanding On October 15, 1997, the City entered into a Memorandum of Understanding with Contra Costa County, Shapell Industries, and Windermere Partners related to the development of Dougherty Valley, an area on the eastern borders of the City. The Memorandum of Understanding is an instrument of compliance with a May 11, 1994 settlement agreement. Under the Memorandum of Understanding, the City will be annexing land that will include up to approximately 11,000 housing units. Contra Costa County has established a County Service Area assessment district in Dougherty Valley that is intended to pay for a variety of municipal services including police protection, street and park maintenance. The City will be providing service in the area and under the agreement will be reimbursed for a portion of those services from the County Service Area Assessment. Under the agreement, the City is required to separately track the costs of services in the Dougherty Valley Area, and submit claims for reimbursements for costs from the County. On December 13, 2005, the City Council approved the formal reimbursementagreement.
10.4.a
Packet Pg. 321 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 79 City of San Ramon
Notes to Financial Statements
June 30, 2021
d) Property Tax Sharing with San Ramon Valley Fire Protection District On September 28, 2007 the City of San Ramon and San Ramon Valley Fire Protection District (District) entered into a property tax sharing agreement related to development of City Center Project. The agreement provides a formula for sharing of property tax revenue between the District and the City. During fiscal year 2020-21, the City did not receive payments due to a new interagency agreement authorized on May 26, 2020 for the Joint Public Safety Complex. Refer to the disclosure at Note # 16. e) Use Tax Sharing Agreement with San Ramon Valley Fire Protection District On November 25, 2014, the City and San Ramon Valley Fire Protection District (District) entered into an agreement whereby the City agreed to share with the District, on a 50/50 basis, the additional amount of California state use tax received by the City and attributable to use tax paid directly by the District to the California State Board of Equalization on purchases from out-of-state vendors. f) PG&E Energy Efficiency Retrofit Loan Program
On April 7, 2017, the City entered into an Energy Efficiency Retrofit On-Bill financing loan agreement with Pacific Gas & Electric (PG&E) for the cost of energy efficiency/demand response equipment and services to upgrade and repair the current HVAC Mechanical System and Window Inserts and re-lamp the current lighting fixtures to LED. In lieu of actual payments, the zero-interest bearing loan, which totaled $1,051,893, will be repaid through energy savings reflected on the City’s PG&E utility bills. As of June 30, 2021, the outstanding loan amount was $625,656.
Note 15 - Contingencies andCommitments
In the normal course of operations, the City has been named as a defendant in various claims and legal actions.
In the opinion of management and legal counsel, the ultimate liability for these legal actions and claims will not have a material adverse effect on the City’s basic financial statements.
The City participates in Federal and State grant programs. These programs are subject to examination by the grantors and the amount, if any, of expenditures, which may be disallowed by the granting agencies, cannot be determined at this time. The City expected such amounts, if any, to be immaterial.
10.4.a
Packet Pg. 322 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 80 City of San Ramon
Notes to Financial Statements
June 30, 2021
Note 16 - Subsequent Event
The City of San Ramon is a contracting member of the California Public Employees’ Retirement System (“CalPERS”), obligated by the Public Employees’ Retirement Law to make certain payments to CalPERS relating to the pension benefits accruing to current and retired City employees. Included among the payments that the City is obligated to make to CalPERS are payments with respect to the City’s unfunded actuarial accrued liability (“UAAL”). UAAL represents the pension benefits that current and retired City employees have already earned, but for which no resources have yet been set-aside to pay such obligation.
On January 21, 2010, the City issued its Taxable Pension Obligation Bonds, 2010 Series A in the original principal amount of $17,650,000 for the purpose of refunding a portion of the City’s then-existing UAAL. The outstanding principal was $14,640,000 at June 30, 2021. Interest on the bonds accrues at 4%-6.4% and is payable semiannually on June 1 and December 1. Principal is payable annually on June 1. The Bonds have a final maturity date of June 1, 2039 (refer to Note 8c for more information).
On October 26, 2021, the City Council approved Resolution No. 2021-124, authorizing the issuance of the 2021 Pension Obligation Bonds in an aggregate principal amount not to exceed $37,500,000. On November 9, 2021, the City issued its Taxable Pension Obligation Bonds, 2021 in the principal amount of $23,345,000. Interest on the bonds accrues at 0.28%-2.860%. Principal and Interest are payable annually on July 1, with a final maturity date of Jul 1, 2035.
Note 17 - Restatement
As of June 30, 2021, the City adopted GASB Statement No. 84, Fiduciary Activities (GASB 84). As a result of the implementation of GASB 84, the City has reclassified its Dougherty Valley Performing Arts Theatre previously reported as fiduciary fund to a governmental fund. The following table describes the effects of the implementation on beginning fund balance/net position:
Nonmajor Total
Governmental Governmental
Funds Funds
Beginning fund balance previously reported at June 30, 2020 $ 69,482,232 $ 109,593,566 Reclassification of DV Performing Arts Theatre fund from agency funds to a special revenue fund 32,433 32,433
Fund balance -beginning as restated June 30, 2020 $ 69,514,665 $ 109,625,999 Governmental
Activities
Beginning net position governmental actvities previously reported at June 30, 2020 $ 450,296,590
Reclassification of DV Performing Arts Theatre fund from agency funds to a special revenue fund 32,433
Net position - beginning as restated June 30, 2020 $ 450,329,023 Custodial
Funds
Beginning net position previously reported at June 30, 2020 $ - Reclassification of agency funds to custodial funds 169,596 Net position -beginning as restated June 30, 2020 $ 169,596
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Packet Pg. 324 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) Required Supplementary Information
June 30, 2021
City of San Ramon
eidebailly.com
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Packet Pg. 325 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Required Supplementary Information 81
City of San Ramon
City’s Miscellaneous Plan – Schedule of Changes in the Net Position Liability and Related Ratios Agent Multiple-Employer Defined Pension Plan - Last 10 Years Year Ended June 30, 2021
Fiscal year* 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 Measurement Date * 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 Total Pension Liability
Service Cost $ 3,065,874 $ 2,878,989 $ 3,098,911 $ 3,476,565 $ 3,525,409 $ 3,755,429 $ 3,722,031 Interest on Total Pension Liability 7,616,515 8,236,308 8,844,191 9,359,296 9,984,181 10,758,879 11,595,929 Changes of Assumptions - (2,125,794) - 8,124,508 (1,264,366) - - Differences between Expected and Actual Experience - 859,787 269,589 (926,508) 1,712,222 2,415,967 3,309,316 Benefit Payments, including Refunds of
Employee Contributions (3,016,709) (3,407,918) (3,689,418) (4,392,615) (4,744,359) (5,666,944) (6,532,902) Net change in total pension liability 7,665,680 6,441,372 8,523,273 15,641,246 9,213,087 11,263,331 12,094,374 Total pension liability - beginning 101,528,945 109,194,625 115,635,997 124,159,270 139,800,516 149,013,603 160,276,934 Total pension liability - ending (a) $ 109,194,625 $ 115,635,997 $ 124,159,270 $ 139,800,516 $ 149,013,603 $ 160,276,934 $ 172,371,308 Plan fiduciary net position
Contributions - Employer $ 2,161,339 $ 2,324,159 $ 2,609,080 $ 2,762,063 $ 2,994,787 $ 3,438,169 $ 3,979,613 Contributions - Employee 1,685,116 1,335,799 1,411,367 1,418,316 1,499,052 1,528,829 1,545,644 Net Investment Income 15,156,953 2,250,869 542,297 11,717,164 9,797,196 8,271,435 6,651,048 Benefit Payments, including Refunds of
Employee Contributions (3,016,709) (3,407,918) (3,689,418) (4,392,615) (4,744,359) (5,666,944) (6,532,902) Net Plan to Plan Resource Movement - 18 - 3,951 (291) - - Administrative Expense - (118,214) (63,996) (156,230) (182,581) (90,049) (188,438) Other Miscellaneous Income/ (Expense) - - - - (346,724) 291 - Net change in Fiduciary Net Position 15,986,699 2,384,713 809,330 11,352,649 9,017,080 7,481,731 5,454,965 Plan fiduciary net position - beginning 86,635,090 102,621,789 105,006,502 105,815,832 117,168,481 126,185,561 133,667,292 Plan fiduciary net position - ending (b) $ 102,621,789 $ 105,006,502 $ 105,815,832 $ 117,168,481 $ 126,185,561 $ 133,667,292 $ 139,122,257 Net pension liability - ending (a)-(b) $ 6,572,836 $ 10,629,495 $ 18,343,438 $ 22,632,035 $ 22,828,042 $ 26,609,642 $ 33,249,051 Plan fiduciary net position as a percentage of the
total pension liability 93.98% 90.81% 85.23% 83.81% 84.68% 83.40% 80.71% Covered payroll 15,815,866 16,576,119 17,838,272 18,178,704 18,746,192 20,066,378 22,294,661 Net pension liability as percentage of covered payroll 41.56% 64.13% 102.83% 124.50% 121.77% 132.61% 149.13% Discount rate 7.65% 7.65% 7.15% 7.15% 7.15% 7.15% 7.15% *Fiscal year 2015 was the 1st year of implementation.
10.4.a
Packet Pg. 326 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Required Supplementary Information 82
City of San Ramon
City’s Miscellaneous Plan - Last 10 Years - Schedule of Contributions An Agent Multiple-Employer Defined Pension Plan
Year Ended June 30, 2021
Fiscal year* 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 Actuarially determined contribution $ 2,230,199 $ 2,601,374 $ 2,755,597 $ 1,970,001 $ 3,436,541 $ 3,979,422 $ 4,640,927 Contributions in relation to the
actuarially determined contributions (2,230,199) (2,601,374) (2,755,597) (1,970,001) (3,436,541) (3,979,422) (4,640,927) Contribution deficiency (excess) - - - - - - -
Covered payroll $ 16,576,119 $ 17,838,272 $ 18,178,704 $ 18,746,192 $ 20,066,378 $ 22,294,661 $ 20,298,340 Contributions as a percentage of
covered payroll 13.45% 14.58% 15.16% 10.51% 17.13% 17.85% 22.86% Notes to Schedule
Valuation date: 6/30/2013 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 *Fiscal year 2015 was the 1st year of implementation.
10.4.a
Packet Pg. 327 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Required Supplementary Information 83
City of San Ramon
City’s Safety Plan – Schedule of The Plan’s Proportionate Share of The Net Pension Liability and Related Ratios as of the Measurement date Cost-Sharing Multiple-Employer Defined Pension Plan - Last 10 Years Year Ended June 30, 2021
Fiscal year* 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 Measurement Date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 Safety - Total
Proportion of the Net Pension Liability (Asset) 0.05854% 0.93720% 0.97490% 0.10633% 0.10888% 0.11920% 0.13446% Proportion share of the Net Pension Liability (Asset) $ 3,642,576 $ 3,861,735 $ 5,049,024 $ 6,353,412 $ 6,388,323 $ 7,441,007 $ 8,958,459 Covered Payroll $ 7,069,736 $ 7,654,536 $ 8,472,705 $ 8,940,160 $ 9,293,702 $ 10,002,895 $ 10,002,895 Proportionate Share of the Net Pension Liability/(Asset) as a Percentage of its Covered Payroll 51.52% 50.45% 59.59% 71.07% 68.74% 74.39% 89.56% Plan's Fiduciary Net Position as a Percentage of the Total Pension Liability 78.82% 78.40% 74.06% 73.31% 75.26% 73.37% 73.10% Discount rate 7.65% 7.65% 7.15% 7.15% 7.15% 7.15% 7.15% *Fiscal year 2015 was the 1st year of implementation.
10.4.a
Packet Pg. 328 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Required Supplementary Information 84
City of San Ramon
City’s Safety Plan – Schedule of Contribution
Cost-Sharing Multiple-Employer Defined Pension Plan – Last 10 Years Year Ended June 30, 2021
Fiscal year* 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 Safety
Actuarially determined contribution $ 2,070,229 $ 1,750,732 $ 1,870,592 $ 2,035,346 $ 2,319,120 $ 2,450,995 $ 2,690,755 Contributions in relation to the actuarially determined contributions (2,070,229) (1,750,732) (1,870,592) (2,035,346) (2,319,120) (2,450,995) (2,690,755) Contribution deficiency (excess) - - - - - - -
Covered payroll $ 7,654,536 $ 8,472,705 $ 8,940,160 $ 9,293,702 $ 10,002,895 $ 9,896,996 $ 9,923,524 Contributions as a percentage of covered payroll 27.05% 20.66% 20.92% 21.90% 23.18% 24.77% 27.11% *Fiscal year 2015 was the 1st year of implementation.
10.4.a
Packet Pg. 329 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Required Supplementary Information 85
City of San Ramon
Dougherty Regional Fire Authority - Miscellaneous Plan – Schedule of The Plan’s Proportionate Share of The Net Pension Liability and Related Ratios as of the Measurement date
Cost-Sharing Multiple-Employer Defined Pension Plan – Last 10 Years Year Ended June 30, 2021
Fiscal year* 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 Measurement Date 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 Miscellaneous - Total
Proportion of the Net Pension Liability (Asset) 0.00328% 0.00321% 0.00138% 0.00141% 0.00139% 0.00137% Proportion share of the Net Pension Liability (Asset) $ 90,064 $ 111,562 $ 54,228 $ 53,225 $ 55,550 $ 57,567 Covered Payroll $ - $ - $ - $ - $ - $ -
Plan's Fiduciary Net Position as a Percentage of the Total Pension Liability 78.40% 74.06% 73.31% 75.26% 73.37% 75.10%
Discount rate 7.65% 7.15% 7.15% 7.15% 7.15% 7.15%
*Fiscal year 2015 was the 1st year of implementation.
10.4.a
Packet Pg. 330 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Required Supplementary Information 86
City of San Ramon
Dougherty Regional Fire Authority - Miscellaneous Plan – Schedule of Contribution Cost-Sharing Multiple-Employer Defined Pension Plan – Last 10 Years Year Ended June 30, 2021
Fiscal year* 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 Miscellaneous
Actuarially determined contribution $ - $ 1,917 $ 4,021 $ 4,021 $ 5,093 $ 5,338 $ 7,091 Contributions in relation to the actuarially determined contributions - (1,917) (4,021) (4,021) (5,093) (5,338) (7,091) Contribution deficiency (excess) - - - - - - -
*Fiscal year 2015 was the 1st year of implementation.
10.4.a
Packet Pg. 331 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Required Supplementary Information 87
City of San Ramon
Dougherty Regional Fire Authority - Safety Plan – Schedule of The Plan’s Proportionate Share of The Net Pension Liability and Related Ratios as of the Measurement date
Cost-Sharing Multiple-Employer Defined Pension Plan – Last 10 Years Year Ended June 30, 2021
Fiscal year* 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 Measurement Date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 Safety - Total
Proportion of the Net Pension Liability (Asset) 0.04919% 0.06207% 0.06921% 0.07039% 0.07383% 0.07562% 0.07469% Proportion share of the Net Pension Liability (Asset) $ 1,845,018 $ 2,557,717 $ 3,584,354 $ 4,205,831 $ 4,331,776 $ 4,720,832 $ 4,976,352 Covered Payroll $ - $ - $ - $ - $ - $ - $ -
Plan's Fiduciary Net Position as a Percentage of the Total Pension Liability 78.82% 78.40% 74.06% 73.31% 75.26% 73.37% 73.10% Discount rate 7.65% 7.65% 7.15% 7.15% 7.15% 7.15% 7.15% *Fiscal year 2015 was the 1st year of implementation.
10.4.a
Packet Pg. 332 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Required Supplementary Information 88
City of San Ramon
Dougherty Regional Fire Authority - Safety Plan – Schedule of Contribution Cost-Sharing Multiple-Employer Defined Pension Plan – Last 10 Years Year Ended June 30, 2021
Fiscal Year Ended June 30* 2015 2016 2017 2018 2019 2020 2021 Safety
Actuarially determined contribution $ 1,525 $ 47,093 $ 85,493 $ 139,401 $ 383,069 $ 462,099 $ 613,092 Contributions in relation to the actuarially determined contributions (1,525) (47,093) (85,493) (139,401) (383,069) (462,099) (613,092) Contribution deficiency (excess) - - - - - - -
*Fiscal year 2015 was the 1st year of implementation.
10.4.a
Packet Pg. 333 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Required Supplementary Information 89
City of San Ramon
Schedule of Changes in the Net OPEB Liability and Related Ratios – Retiree Medical Benefits (OPEB) Plan Last 10 Fiscal Years
Year Ended June 30, 2021
Fiscal year * 6/30/2018 6/30/2019 6/30/2020 6/30/2021
Measurement Date 6/30/2017 6/30/2018 6/30/2019 6/30/2020 Total OPEB Liability
Service Cost $ 1,184,356 $ 1,261,339 $ 1,430,642 $ 979,601 Interest 1,731,659 1,855,327 1,983,605 2,133,805
Differences between expected and actual experience - - 185,869 - Changes of assumptions - - 751,478 -
Benefit payments (1,051,859) (1,112,432) (1,512,507) (1,667,043) Net change in total OPEB liability 1,864,156 2,004,234 2,839,087 1,446,363 Total OPEB liability - beginning 25,974,214 27,838,370 29,842,604 32,681,691 Total OPEB liability - ending (a) $ 27,838,370 $ 29,842,604 $ 32,681,691 $ 34,128,054 Plan fiduciary net position
Contributions - employer 2,533,034 232,648 1,512,507 1,667,043 Net investment income 1,851,190 1,734,983 2,047,647 1,685,464 Administrative expense (12,850) (14,425) (14,388) (15,625) Benefit payments (1,051,859) (1,112,432) (1,512,507) (1,667,043) Net change in plan fiduciary net position 3,319,515 840,774 2,033,259 1,669,839 Plan fiduciary net position - beginning 24,926,077 28,245,592 29,086,366 31,119,625 Plan fiduciary net position - ending (b) 28,245,592 29,086,366 31,119,625 32,789,464 Net OPEB liability (asset) - ending (a)-(b) (407,222) 756,238 1,562,066 1,338,590 Plan fiduciary net position as a percentage of the total OPEB liability 101.46% 97.47% 95.22% 96.08% Covered-employee payroll at Measurement Date $ 29,187,767 $ 30,618,811 $ 33,203,415 $ 32,969,072 Net OPEB liability (asset) as a percentage of covered-employee payroll -1.40% 2.47% 4.70% 4.06% Discount Rate 6.5% 6.5% 6.5% 6.5%
*Fiscal year 2018 was the 1st year of implementation.
10.4.a
Packet Pg. 334 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Required Supplementary Information 90
City of San Ramon
Schedule of Contributions – Retiree Medical Benefits (OPEB) Plan Last 10 Fiscal Years
Year Ended June 30, 2021
Fiscal year* 2018 2019 2020 2021
Actuarially determined contribution $ 1,343,326 $ 1,612,619 $ 1,400,270 $ 1,377,887 Contributions in relation to the
actuarially determined contribution 885,985 1,047,416 1,667,043 1,307,273 Contribution deficiency (excess) $ 457,341 $ 565,203 $ (266,773) $ 70,614 Covered-employee payroll $ 30,618,811 $ 33,203,415 $ 32,969,072 $ 31,416,882 Contributions as a percentage of
covered-employee payroll 2.89% 3.15% 5.06% 4.16%
*Fiscal year 2018 was the 1st year of implementation.
10.4.a
Packet Pg. 335 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Required Supplementary Information 91
City of San Ramon
General Fund – Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Original Final Actual (Negative)
REVENUES
Taxes $ 41,096,278 $ 41,096,278 $ 39,882,724 $ (1,213,554) Licenses and permits 2,374,927 2,374,927 1,924,751 (450,176) Intergovernmental 219,202 219,202 335,787 116,585
Charges for services 5,334,185 5,334,185 3,283,166 (2,051,019) Fines and forfeitures 324,000 324,000 171,855 (152,145) Investment income 100,000 100,000 (5,670) (105,670)
Miscellaneous 3,029,637 3,029,637 1,563,921 (1,465,716) TOTAL REVENUES 52,478,229 52,478,229 47,156,534 (5,321,695)
EXPENDITURES
Current:
General Government 7,620,815 7,710,815 7,593,531 117,284 Community development 4,023,525 4,023,525 3,959,243 64,282 Police services 15,824,259 15,845,622 15,109,716 735,906 Public works 14,999,519 15,049,919 14,747,833 302,086
Parks and community services 7,836,018 7,836,018 6,892,067 943,951 TOTAL EXPENDITURES 50,304,136 50,465,899 48,302,390 2,163,509 Excess (deficiency) of revenue
over (under) expenditures 2,174,093 2,012,330 (1,145,856) (3,158,186)
OTHER FINANCING SOURCES (USES)
Transfers in 9,904,800 9,904,800 9,946,307 41,507
Transfers (out) (4,658,140) (4,889,795) (4,923,241) (33,446) Total Other Financing Sources (Uses) 5,246,660 5,015,005 5,023,066 8,061 NET CHANGE IN FUND BALANCE $ 7,420,753 $ 7,027,335 3,877,210 $ (3,150,125) Fund balance at beginning of year 15,344,050
Fund balance at end of year $ 19,221,260
Budgeted Amounts
10.4.a
Packet Pg. 336 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Required Supplementary Information 92
City of San Ramon
Dougherty Valley Fund – Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Original Final Actual (Negative)
REVENUES
Intergovernmental $ 19,983,936 $ 19,983,936 $ 18,950,928 $ (1,033,008) Charges for services 500 500 590 90
Investment income - - 40,508 40,508
Miscellaneous - - 15,518 15,518
TOTAL REVENUES 19,984,436 19,984,436 19,007,544 (976,892)
EXPENDITURES
Current:
Police services 9,257,111 9,269,658 8,704,361 565,297
Public works 12,147,880 12,285,897 11,682,380 603,517
TOTAL EXPENDITURES 21,404,991 21,555,555 20,386,741 1,168,814 Excess (deficiency) of revenue
over (under) expenditures (1,420,555) (1,571,119) (1,379,197) 191,922
OTHER FINANCING SOURCES (USES)
Transfers in 1,713,475 1,713,475 1,713,475 -
Transfers (out) (292,920) (292,920) (334,278) (41,358)
Total Other Financing Sources (Uses) 1,420,555 1,420,555 1,379,197 (41,358) NET CHANGE IN FUND BALANCE $ - $ (150,564) - $ 150,564
Fund balance at beginning of year -
Fund balance at end of year $ -
Budgeted Amounts
10.4.a
Packet Pg. 337 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 93 City of San Ramon
Notes to Required Supplementary Information
June 30, 2021
Budgets and BudgetaryAccounting
The City Council adopts and Annual Budget, in accordance with generally accepted accounting principles, no later than the second meeting of June of each year for the fiscal year commencing the following July 1. The City follows these procedures in establishing the budgetary data reflected in the financial statements:
1. During May of each year, the City Manager submits to the City Council a proposed budget for the next following fiscal year. Copies are made available to the public, the press, and staff members.
2. A series of Council work sessions are held at which the recommended budget is reviewed in detail and the departments(asrequested) provide additional information.
3. After review by the city Council, a public hearing is conducted for the purpose of receiving public input on the recommended operating and capital budgets, the Master Fee Schedule, and the Gann AppropriationLimit.
4. Upon completion of the hearings and modifications, if any, to the proposed budget, the budget is adopted no later than June 30th by the City Council through passage of appropriate resolutions.
5. Generally, the budget is amended in the middle of the year and at the end of the year. All approved additional appropriations are added to the adopted budget and an amended budget is presented to the City Council, which adopts it after due review. Expenditures may not exceed budgeted appropriations at the fundlevel. Budget is adopted on a basis consistent with generally accepted accounting principles.
10.4.a
Packet Pg. 338 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) Supplementary Information
June 30, 2021
City of San Ramon
eidebailly.com
10.4.a
Packet Pg. 339 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 94
City of San Ramon
Capital Improvements Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Intergovernmental $ 14,485,500 $ 525,451 $ (13,960,049) Investment income 100,000 113,893 13,893
Miscellaneous 80,000 72,501 (7,499)
TOTAL REVENUES 14,665,500 711,845 (13,953,655)
EXPENDITURES
Current:
Public works 24,139,496 12,673,288 11,466,208
Capital outlay 6,821,411 6,821,411 -
TOTAL EXPENDITURES 30,960,907 19,494,699 11,466,208
Excess (deficiency) of revenue
over (under) expenditures (16,295,407) (18,782,854) (2,487,447)
OTHER FINANCING SOURCES (USES)
Transfers in 27,173,746 27,773,745 599,999
Transfers (out) (100,000) (871,646) (771,646)
Total Other Financing Sources (Uses) 27,073,746 26,902,099 (171,647) NET CHANGE IN FUND BALANCE $ 10,778,339 8,119,245 $ (2,659,094) Fund balance at beginning of year 24,767,284
Fund balance at end of year $ 32,886,529
10.4.a
Packet Pg. 340 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 95
City of San Ramon
Description of Nonmajor Governmental Funds
June 30, 2021
Special Revenue Funds
The City has several special revenue funds that are used to account for revenue which, by law or administrative action, is designed to finance particular projects and activities in the City’s Capital Improvement Program. These funds are the Development Mitigation Fund, Gas Tax Fund, Park Development Fund, Crow Canyon Project Fund, SCCJEPA Fund, Street Maintenance/Improvements Fund, Traffic Improvements Fund, Open Space Development Fund and Tri-Valley Transportation Fund.
The City also has several special revenue funds which are funded by special assessments collected annually to pay for specific operating programs. These funds are Citywide Lighting and Landscaping Fund, Special Landscaping Zones Fund, Canyon Park Fund, Village Center Common Area Fund, The Preserve (Faria) Fund, Solid Waste Fund, Vehicle Refuse Impacts Fees Fund and Non-Point Drainage District Fund.
In addition, the City has set up separate special revenue funds for recording transactions for special projects and programs. These are the Street Smarts Fund, TDM Programs Fund, TRAFFIX Fund, Police Services Donation Fund, Geographic Information Systems Fund, Planning Cost Recovery Fund, DV Performing Arts Theatre Fund, Public Education and Government Fund and GHAD Fund.
The CFD 2014-1 Fund is used to account for the acquisition, construction, and improvements of police and public safety facilities, park and recreational facilities, and open space facilities for future annexation areas.
The DV Performing Arts Theatre Fund did not have an adopted budget.
Debt Service Funds
The Debt Service Funds are used to account for the payment of principal and interest on long-term debt of the City and related entities.
The Pension Obligation Bonds Debt Service Fund is used to account for debt service activity related to the 2010 Taxable Pension ObligationBonds.
The LED Lights Fund is used to account for debt service activity relating to the LED Lights conversion (CIP 5499).
The COP # 12 Fund is used to account for debt service activity relating to the 2011 Certificates of Participation.
The COP # 13 Fund is used to account for debt service activity relating to the 2019 Certificates of Participation.
10.4.a
Packet Pg. 341 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 96
City of San Ramon
Nonmajor Governmental Funds – Combining Balance Sheet
June 30, 2021
Geographic CFD CFD Crow Street
Planning Information 2014-1 2014-1 Park Canyon Maintenance/ Traffic Tri-Valley Cost Recovery System (Acres) (Faria) Gas Tax Development Project SCCJEPA Improvements Improvements Transportation ASSETS
Cash and investments $ 311,606 $ 233,600 $ 1,924 $ - $ 420,161 $ 243,391 $ 4,469 $ 5,619,158 $ 1,242,579 $ 19,272 $ 323,602 Restricted cash and investments - - - - -
Receivables:
Accounts - - - - 359,345 - - 9,754 150,815 - -
Notes and loans - - - - - - - - 4,925 - -
Interest 821 598 116 542 450 623 11 14,335 3,298 49 867 Total Assets $ 312,427 $ 234,198 $ 2,040 $ 542 $ 779,956 $ 244,014 $ 4,480 $ 5,643,247 $ 1,401,617 $ 19,321 $ 324,469
LIABILITIES
Accounts payable $ 13,184 $ 14,250 $ 2,040 $ - $ - $ - $ - $ - $ - $ - $ - Accrued payroll - 2,157 - - - - - - - - -
Due to other funds - - - 542 - - - - - - -
Deposits payable - - - - - 24,421 - - - - -
Total Liabilities 13,184 16,407 2,040 542 - 24,421 - - - - -
FUND BALANCES
Restricted - - - - 779,956 219,593 4,480 5,643,247 1,401,617 19,321 324,469 Committed 299,243 217,791 - - - - - - - - -
Total Fund Balances 299,243 217,791 - - 779,956 219,593 4,480 5,643,247 1,401,617 19,321 324,469 Total liabilities and fund balances $ 312,427 $ 234,198 $ 2,040 $ 542 $ 779,956 $ 244,014 $ 4,480 $ 5,643,247 $ 1,401,617 $ 19,321 $ 324,469
SPECIAL REVENUE FUNDS
10.4.a
Packet Pg. 342 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Supplementary Information 97
City of San Ramon
Nonmajor Governmental Funds – Combining Balance Sheet continued June 30, 2021
Public Citywide Special Village Non-Point Police Vehicle Education and Lighting and Landscaping Canyon Center Solid Drainage Street TDM Services Refuse Government Landscaping Zones Park Common Area Waste District Smarts Programs Donation Impact Fees ASSETS
Cash and investments $ 1,284,654 $ 2,128,976 $ 2,316,497 $ 228,550 $ 68,749 $ 1,227,396 $ 201,986 $ 439,142 $ 355 $ 384,086 $ 1,526,400 Restricted cash and investments - - - - - - - - - - -
Receivables:
Accounts 48,725 58,527 2,698 - 6,006 90,806 27,722 7,841 50,814 - 62,513 Notes and loans - - - - - - - - - - -
Interest 3,302 5,271 5,954 550 162 3,087 246 1,092 - 986 3,810 Total Assets $ 1,336,681 $ 2,192,774 $ 2,325,149 $ 229,100 $ 74,917 $ 1,321,289 $ 229,954 $ 448,075 $ 51,169 $ 385,072 $ 1,592,723
LIABILITIES
Accounts payable $ 773 $ 120,649 $ 147,551 $ - $ 350 $ 118,997 $ 63,910 $ - $ 1,408 $ - $ - Accrued payroll - 29,138 24,334 345 - 8,721 34,178 6,877 7,308 - - Due to other funds - - - - - - - - 42,453 - -
Deposits payable - - - - - - - - - 49,441 -
Total Liabilities 773 149,787 171,885 345 350 127,718 98,088 6,877 51,169 49,441 -
FUND BALANCES
Restricted 1,335,908 2,042,987 2,153,264 228,755 74,567 1,193,571 131,866 441,198 - 335,631 1,592,723 Committed - - - - - - - - - - -
Total Fund Balances 1,335,908 2,042,987 2,153,264 228,755 74,567 1,193,571 131,866 441,198 - 335,631 1,592,723 Total liabilities and fund balances $ 1,336,681 $ 2,192,774 $ 2,325,149 $ 229,100 $ 74,917 $ 1,321,289 $ 229,954 $ 448,075 $ 51,169 $ 385,072 $ 1,592,723
SPECIAL REVENUE FUNDS
10.4.a
Packet Pg. 343 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Supplementary Information 98
City of San Ramon
Nonmajor Governmental Funds – Combining Balance Sheet continued June 30, 2021
Total
Open Space GHAD - Pension Nonmajor
Development Development Preserve TRAFFIX Dougherty GHAD San Ramon DV Performing Obligation LED Governmental Fund Mitigation Faria Program Valley Fund NWSR Housing Arts Theatre Bonds Lights COPS #12 COPS #13 Funds ASSETS
Cash and investments $ 2,877 $ 1,785,484 $ 174,415 $ 100,059 $ 10,703,182 $ 595,197 $ 4,290,417 $ 18,904 $ - $ 30,192 $ 1,997 $ 19,111 $ 35,948,388 Restricted cash and investments - - - - - - - 16,559 - - 3,583,322 3,599,881 Receivables:
Accounts - - - 14,937 1,649 - - - - - - - 892,152
Notes and loans - - - - - - 5,505,000 - - - - - 5,509,925 Interest 7 4,504 448 236 27,217 1,493 11,266 46 3,201 77 - - 94,665 Total Assets $ 2,884 $ 1,789,988 $ 174,863 $ 115,232 $ 10,732,048 $ 596,690 $ 9,806,683 $ 18,950 $ 19,760 $ 30,269 $ 1,997 $ 3,602,433 $ 46,045,011
LIABILITIES
Accounts payable $ - $ - $ - $ - $ 82,986 $ - $ - $ - $ 923 $ 23,545 $ 923 $ 1,172 $ 592,661 Accrued payroll - - - 9,370 16,874 - 9,746 - - - - - 149,048 Due to other funds - - - - - - - - - - - - 42,995
Deposits payable - - - - - - 195,000 - - - - - 268,862
Total Liabilities - - - 9,370 99,860 - 204,746 - 923 23,545 923 1,172 1,053,566
FUND BALANCES
Restricted 2,884 1,789,988 174,863 105,862 10,632,188 596,690 9,601,937 18,950 18,837 6,724 1,074 3,601,261 44,474,411 Committed - - - - - - - - - - - - 517,034
Total Fund Balances 2,884 1,789,988 174,863 105,862 10,632,188 596,690 9,601,937 18,950 18,837 6,724 1,074 3,601,261 44,991,445 Total liabilities and fund balances $ 2,884 $ 1,789,988 $ 174,863 $ 115,232 $ 10,732,048 $ 596,690 $ 9,806,683 $ 18,950 $ 19,760 $ 30,269 $ 1,997 $ 3,602,433 $ 46,045,011
SPECIAL REVENUE FUNDS DEBT SERVICE FUNDS
10.4.a
Packet Pg. 344 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, This page intentionally left blank.
10.4.a
Packet Pg. 345 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 99
City of San Ramon
Non-Major Governmental Funds – Combining Statement of Revenues, Expenditure, and Changes in Fund Balances Year Ended June 30, 2021
Geographic CFD CFD Crow Street
Planning Information 2014-1 2014-1 Park Canyon Maintenance/ Traffic Tri-Valley Cost Recovery System (Acres) (Faria) Gas Tax Development Project SCCJEPA Improvements Improvements Transportation
REVENUES
Licenses and permits $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Intergovernmental - - - - 3,395,555 - - - 1,174,852 - - Developer fees - 91,864 - - - 91,208 - 1,763,896 5,225 77,228 76,385 Charges for services 133,693 - - - - - - - - - -
Fines and forfeitures - - - - - - - - - - -
Investment income 436 (421) (343) (1,601) (2,349) (1,306) - (9,900) (10,058) (1,076) (246) Special assessments - - 47,704 221,968 - - - - - - -
Miscellaneous - - - - - - - - 40 - -
Total Revenues 134,129 91,443 47,361 220,367 3,393,206 89,902 - 1,753,996 1,170,059 76,152 76,139
EXPENDITURES
Current:
Community development 48,897 83,685 2,040 - - - - - - - - Housing - - - - - - - - - - -
Public works - - - - - - - - - - -
Capital outlay - - - - - - - - - - -
Debt service:
Principal - - - - - - - - - - -
Interest and fees - - - - - - - - - - -
Total Expenditures 48,897 83,685 2,040 - - - - - - - -
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 85,232 7,758 45,321 220,367 3,393,206 89,902 - 1,753,996 1,170,059 76,152 76,139
OTHER FINANCING SOURCES (USES)
Transfers in (Note 4 (b)) - - - - 277,080 303,982 - - 119,183 118,650 - Transfers (out) (Note 4 (b)) (153,660) - (45,321) (220,367) (3,617,976) (442,344) - (4,104,749) (1,772,957) (219,833) - Total Other Financing Sources (Uses) (153,660) - (45,321) (220,367) (3,340,896) (138,362) - (4,104,749) (1,653,774) (101,183) - NET CHANGE IN FUND BALANCES (68,428) 7,758 - - 52,310 (48,460) - (2,350,753) (483,715) (25,031) 76,139
FUND BALANCE AT THE BEGINNING
OF YEAR, as restated 367,671 210,033 - - 727,646 268,053 4,480 7,994,000 1,885,332 44,352 248,330 FUND BALANCES AT END OF YEAR $ 299,243 $ 217,791 $ - $ - $ 779,956 $ 219,593 $ 4,480 $ 5,643,247 $ 1,401,617 $ 19,321 $ 324,469
SPECIAL REVENUE FUNDS
10.4.a
Packet Pg. 346 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Supplementary Information 100
City of San Ramon
Non-Major Governmental Funds – Combining Statement of Revenues, Expenditure, and Changes in Fund Balances continued Year Ended June 30, 2021
Public Citywide Special Non-Point Police Vehicle
Education and Lighting and Landscaping Canyon Village Center Solid Drainage Street TDM Services Refuse Government Landscaping Zones Park Common Area Waste District Smarts Programs Donation Impact Fees
REVENUES
Licenses and permits $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Intergovernmental 193,123 10,766 - - - 20,672 - 106,054 339,630 - - Developer fees - - - - - - - - - - -
Charges for services - 15 - - - - 1,250 - - - 1,513,069 Fines and forfeitures - - - - - - - - - 21,786 -
Investment income (167) (6,679) (1,857) 8 45 (716) 45 252 (605) (981) (7,419) Special assessments - 2,545,745 1,158,091 12,253 - - 1,096,824 - - - - Miscellaneous - 4,197 - - 6,006 1,081,927 2,000 20,750 - 533 - Total Revenues 192,956 2,554,044 1,156,234 12,261 6,051 1,101,883 1,100,119 127,056 339,025 21,338 1,505,650
EXPENDITURES
Current:
Community development - - - - - - - - - - -
Housing - - - - - - - - - - -
Public works - 1,633,892 1,163,053 9,121 4,887 850,657 1,130,985 114,237 339,025 - - Capital outlay 20,593 - - - - - - - - - -
Debt service:
Principal - - - - - - - - - - -
Interest and fees - - - - - - - - - - -
Total Expenditures 20,593 1,633,892 1,163,053 9,121 4,887 850,657 1,130,985 114,237 339,025 - -
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 172,363 920,152 (6,819) 3,140 1,164 251,226 (30,866) 12,819 - 21,338 1,505,650
OTHER FINANCING SOURCES (USES)
Transfers in (Note 4 (b)) - 17,384 363,623 - - - - 35,000 - - - Transfers (out) (Note 4 (b)) (18,736) (737,175) (303,438) (2,517) - - - - - - (1,500,000) Total Other Financing Sources (Uses) (18,736) (719,791) 60,185 (2,517) - - - 35,000 - - (1,500,000) NET CHANGE IN FUND BALANCES 153,627 200,361 53,366 623 1,164 251,226 (30,866) 47,819 - 21,338 5,650
FUND BALANCE AT THE BEGINNING
OF YEAR, as restated 1,182,281 1,842,626 2,099,898 228,132 73,403 942,345 162,732 393,379 - 314,293 1,587,073 FUND BALANCES AT END OF YEAR $ 1,335,908 $ 2,042,987 $ 2,153,264 $ 228,755 $ 74,567 $ 1,193,571 $ 131,866 $ 441,198 $ - $ 335,631 $ 1,592,723
SPECIAL REVENUE FUNDS
10.4.a
Packet Pg. 347 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Supplementary Information 101
City of San Ramon
Non-Major Governmental Funds – Combining Statement of Revenues, Expenditure, and Changes in Fund Balances continued Year Ended June 30, 2021
Total
Open Space Pension Nonmajor
Development Development Preserve TRAFFIX GHAD - Dougherty GHAD San Ramon DV Performing Obligation LED Governmental Fund Mitigation Faria Program Valley Fund NWSR Housing Arts Theatre Bonds Lights COPS #12 COPS #13 Funds
REVENUES
Licenses and permits $ - $ - $ - $ - $ 5,520 $ - $ - $ - $ - $ - $ - $ - $ 5,520 Intergovernmental - - - 179,238 - - - - - - - - 5,419,890 Developer fees - 509,912 - - - - - - - - - - 2,615,718
Charges for services - - - - - - - - - - - - 1,648,027
Fines and forfeitures - - - - - - - - - - - - 21,786
Investment income 682 (1,575) (340) (27) (8,633) (1,068) 14,328 95 (7,054) 1,274 - 91,120 43,864 Special assessments - - 96,497 - 2,165,128 289,556 - - - - - - 7,633,766 Miscellaneous 500,000 - - - 36,988 - - 1,922 1,395,523 - - - 3,049,886 Total Revenues 500,682 508,337 96,157 179,211 2,199,003 288,488 14,328 2,017 1,388,469 1,274 - 91,120 20,438,457
EXPENDITURES
Current:
Community development - - - - - - - - - - - 134,622
Housing - - - - - - 672,889 - - - - 672,889
Public works 15,000 - 4,686 140,103 496,068 200 - - - - - 5,901,914 Capital outlay - - - - - - - - - - - 20,593
Debt service:
Principal - - - - - - - - 430,000 252,583 1,455,000 695,000 2,832,583 Interest and fees - - - - - - - - 972,664 26,190 118,538 909,227 2,026,619 Total Expenditures 15,000 - 4,686 140,103 496,068 200 672,889 - 1,402,664 278,773 1,573,538 1,604,227 11,589,220
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 485,682 508,337 91,471 39,108 1,702,935 288,288 (658,561) 2,017 (14,195) (277,499) (1,573,538) (1,513,107) 8,849,237
OTHER FINANCING SOURCES (USES)
Transfers in (Note 4 (b)) - - 11,606 - - - - - 1,400,630 278,773 - 949,085 3,874,996 Transfers (out) (Note 4 (b)) (500,000) (319,749) (4,175) - (586,041) - - (15,500) (1,400,630) - (7,416,411) (13,865,874) (37,247,453) Total Other Financing Sources (Uses) (500,000) (319,749) 7,431 - (586,041) - - (15,500) - 278,773 (7,416,411) (12,916,789) (33,372,457) NET CHANGE IN FUND BALANCES (14,318) 188,588 98,902 39,108 1,116,894 288,288 (658,561) (13,483) (14,195) 1,274 (8,989,949) (14,429,896) (24,523,220)
FUND BALANCE AT THE BEGINNING
OF YEAR, as restated 17,202 1,601,400 75,961 66,754 9,515,294 308,402 10,260,498 32,433 33,032 5,450 8,991,023 18,031,157 69,514,665 FUND BALANCES AT END OF YEAR $ 2,884 $ 1,789,988 $ 174,863 $ 105,862 $ 10,632,188 $ 596,690 $ 9,601,937 $ 18,950 $ 18,837 $ 6,724 $ 1,074 $ 3,601,261 $ 44,991,445
SPECIAL REVENUE FUNDS DEBT SERVICE FUNDS
10.4.a
Packet Pg. 348 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Supplementary Information 102
City of San Ramon
Planning Costs Recovery Fund
Schedules of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Charges for services $ 157,743 $ 133,693 $ (24,050)
Investment income - 436 436
TOTAL REVENUES 157,743 134,129 (23,614)
EXPENDITURES
Current:
Community development 156,000 48,897 107,103
TOTAL EXPENDITURES 156,000 48,897 107,103
Excess (deficiency) of revenue
over (under) expenditures 1,743 85,232 83,489
OTHER FINANCING SOURCES (USES)
Transfers (out) (153,660) (153,660) -
Total Other Financing Sources (Uses) (153,660) (153,660) - NET CHANGE IN FUND BALANCE $ (151,917) (68,428) $ 83,489 Fund balance at beginning of year 367,671
Fund balance at end of year $ 299,243
10.4.a
Packet Pg. 349 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 103
City of San Ramon
Geographic Information
Schedules of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Developer fees $ 85,000 $ 91,864 $ 6,864
Investment income - (421) (421)
TOTAL REVENUES 85,000 91,443 6,443
EXPENDITURES
Current:
Community development 75,950 83,685 (7,735)
TOTAL EXPENDITURES 75,950 83,685 (7,735)
Excess (deficiency) of revenue
over (under) expenditures 9,050 7,758 (1,292)
NET CHANGE IN FUND BALANCE $ 9,050 7,758 $ (1,292)
Fund balance at beginning of year 210,033
Fund balance at end of year $ 217,791
10.4.a
Packet Pg. 350 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 104
City of San Ramon
CFD 2014-1 (Acres) Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ (343) $ (343)
Special assessments 35,615 47,704 12,089
TOTAL REVENUES 35,615 47,361 11,746
EXPENDITURES
Current:
Community development 35,615 2,040 33,575
TOTAL EXPENDITURES 35,615 2,040 33,575
Excess (deficiency) of revenue
over (under) expenditures - 45,321 45,321
OTHER FINANCING SOURCES (USES)
Transfers (out) - (45,321) (45,321)
Total Other Financing Sources (Uses) - (45,321) (45,321) NET CHANGE IN FUND BALANCE $ - - $ -
Fund balance at beginning of year -
Fund balance at end of year $ -
10.4.a
Packet Pg. 351 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 105
City of San Ramon
CFD 2014-1 (Faria) Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ - $ (1,601) $ (1,601)
Special assessments 202,459 221,968 19,509
TOTAL REVENUES 202,459 220,367 17,908
Excess (deficiency) of revenue
over (under) expenditures 202,459 220,367 17,908
OTHER FINANCING SOURCES (USES)
Transfers (out) (202,459) (220,367) (17,908)
Total Other Financing Sources (Uses) (202,459) (220,367) (17,908) NET CHANGE IN FUND BALANCE $ - - $ -
Fund balance at beginning of year -
Fund balance at end of year $ -
10.4.a
Packet Pg. 352 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 106
City of San Ramon
Gas Tax Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Intergovernmental $ 3,698,099 $ 3,395,555 $ (302,544)
Investment income (2,349) (2,349)
TOTAL REVENUES 3,698,099 3,393,206 (304,893)
Excess (deficiency) of revenue
over (under) expenditures 3,698,099 3,393,206 (304,893)
OTHER FINANCING SOURCES (USES)
Transfers in - 277,080 277,080
Transfers (out) (3,617,976) (3,617,976) -
Total Other Financing Sources (Uses) (3,617,976) (3,340,896) 277,080 NET CHANGE IN FUND BALANCE $ 80,123 52,310 $ (27,813)
Fund balance at beginning of year 727,646
Fund balance at end of year $ 779,956
10.4.a
Packet Pg. 353 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 107
City of San Ramon
Park Development Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Developer fees $ 1,040,915 $ 91,208 $ (949,707)
Investment income (1,306) (1,306)
TOTAL REVENUES 1,040,915 89,902 (951,013)
Excess (deficiency) of revenue
over (under) expenditures 1,040,915 89,902 (951,013)
OTHER FINANCING SOURCES (USES)
Transfers in - 303,982 303,982
Transfers (out) (355,133) (442,344) (87,211)
Total Other Financing Sources (Uses) (355,133) (138,362) 216,771 NET CHANGE IN FUND BALANCE $ 685,782 (48,460) $ (734,242) Fund balance at beginning of year 268,053
Fund balance at end of year $ 219,593
10.4.a
Packet Pg. 354 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 108
City of San Ramon
Crow Canyon Project Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
OTHER FINANCING SOURCES (USES)
Transfers (out) - - -
Total Other Financing Sources (Uses) - - -
NET CHANGE IN FUND BALANCE $ - - $ -
Fund balance at beginning of year 4,480
Fund balance at end of year $ 4,480
10.4.a
Packet Pg. 355 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 109
City of San Ramon
SCCJEPA Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Developer fees $ 1,191,936 $ 1,763,896 $ 571,960
Investment income (9,900) (9,900)
TOTAL REVENUES 1,191,936 1,753,996 562,060
Excess (deficiency) of revenue
over (under) expenditures 1,191,936 1,753,996 562,060
OTHER FINANCING SOURCES (USES)
Transfers (out) (4,104,749) (4,104,749) -
Total Other Financing Sources (Uses) (4,104,749) (4,104,749) - NET CHANGE IN FUND BALANCE $ (2,912,813) (2,350,753) $ 562,060 Fund balance at beginning of year 7,994,000
Fund balance at end of year $ 5,643,247
10.4.a
Packet Pg. 356 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 110
City of San Ramon
Street Maintenance/Improvements Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Intergovernmental $ 1,108,312 $ 1,174,852 $ 66,540
Developer fees - 5,225 5,225
Investment income - (10,058) (10,058)
Miscellaneous - 40 40
TOTAL REVENUES 1,108,312 1,170,059 61,747
Excess (deficiency) of revenue
over (under) expenditures 1,108,312 1,170,059 61,747
OTHER FINANCING SOURCES (USES)
Transfers in - 119,183 119,183
Transfers (out) (1,772,957) (1,772,957) -
Total Other Financing Sources (Uses) (1,772,957) (1,653,774) 119,183 NET CHANGE IN FUND BALANCE $ (664,645) (483,715) $ 180,930 Fund balance at beginning of year 1,885,332
Fund balance at end of year $ 1,401,617
10.4.a
Packet Pg. 357 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 111
City of San Ramon
Traffic Improvements Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Developer fees $ 484,627 $ 77,228 $ (407,399)
Investment income (1,076) (1,076)
TOTAL REVENUES 484,627 76,152 (408,475)
Excess (deficiency) of revenue
over (under) expenditures 484,627 76,152 (408,475)
OTHER FINANCING SOURCES (USES)
Transfers in - 118,650 118,650
Transfers (out) (219,833) (219,833) -
Total Other Financing Sources (Uses) (219,833) (101,183) 118,650 NET CHANGE IN FUND BALANCE $ 264,794 (25,031) $ (289,825) Fund balance at beginning of year 44,352
Fund balance at end of year $ 19,321
10.4.a
Packet Pg. 358 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 112
City of San Ramon
Tri-Valley Transportation Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Developer fees $ 125,866 $ 76,385 $ (49,481)
Investment income - (246) (246)
TOTAL REVENUES 125,866 76,139 (49,727)
Excess (deficiency) of revenue
over (under) expenditures 125,866 76,139 (49,727)
NET CHANGE IN FUND BALANCE $ 125,866 76,139 $ (49,727)
Fund balance at beginning of year 248,330
Fund balance at end of year $ 324,469
10.4.a
Packet Pg. 359 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 113
City of San Ramon
Public Education and Government Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Intergovernmental $ 210,350 $ 193,123 $ (17,227)
Investment income (167) (167)
TOTAL REVENUES 210,350 192,956 (17,394)
EXPENDITURES
Current:
Capital outlay 100,000 20,593 79,407
TOTAL EXPENDITURES 100,000 20,593 79,407
Excess (deficiency) of revenue
over (under) expenditures 110,350 172,363 62,013
OTHER FINANCING SOURCES (USES)
Transfers (out) (11,000) (18,736) (7,736)
Total Other Financing Sources (Uses) (11,000) (18,736) (7,736) NET CHANGE IN FUND BALANCE $ 99,350 153,627 $ 54,277
Fund balance at beginning of year 1,182,281
Fund balance at end of year $ 1,335,908
10.4.a
Packet Pg. 360 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 114
City of San Ramon
Citywide Lighting and Landscaping Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Intergovernmental $ 9,500 $ 10,766 $ 1,266
Charges for services 600 15 (585)
Investment income - (6,679) (6,679)
Special assessments 2,520,701 2,545,745 25,044
Miscellaneous - 4,197 4,197
TOTAL REVENUES 2,530,801 2,554,044 23,243
EXPENDITURES
Public works 1,742,841 1,633,892 108,949
TOTAL EXPENDITURES 1,742,841 1,633,892 108,949
Excess (deficiency) of revenue
over (under) expenditures 787,960 920,152 132,192
OTHER FINANCING SOURCES (USES)
Transfers in 17,384 17,384
Transfers (out) 737,176 (737,175) (1,474,351)
Total Other Financing Sources (Uses) 737,176 (719,791) (1,456,967) NET CHANGE IN FUND BALANCE $ 1,525,136 200,361 $ (1,324,775) Fund balance at beginning of year 1,842,626
Fund balance at end of year $ 2,042,987
10.4.a
Packet Pg. 361 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 115
City of San Ramon
Special Landscaping Zones Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ - $ (1,857) $ (1,857)
Special assessments 1,158,249 1,158,091 (158)
TOTAL REVENUES 1,158,249 1,156,234 (2,015)
EXPENDITURES
Current:
Public works 1,274,327 1,163,053 111,274
TOTAL EXPENDITURES 1,274,327 1,163,053 111,274
Excess (deficiency) of revenue
over (under) expenditures (116,078) (6,819) 109,259
OTHER FINANCING SOURCES (USES)
Transfers in 354,938 363,623 8,685
Transfers (out) (303,438) (303,438) -
Total Other Financing Sources (Uses) 51,500 60,185 8,685 NET CHANGE IN FUND BALANCE $ (64,578) 53,366 $ 117,944
Fund balance at beginning of year 2,099,898
Fund balance at end of year $ 2,153,264
10.4.a
Packet Pg. 362 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 116
City of San Ramon
Canyon Park Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ - $ 8 $ 8
Special assessments 10,990 12,253 1,263
TOTAL REVENUES 10,990 12,261 1,271
EXPENDITURES
Current:
Public works 58,979 9,121 49,858
TOTAL EXPENDITURES 58,979 9,121 49,858
Excess (deficiency) of revenue
over (under) expenditures (47,989) 3,140 51,129
OTHER FINANCING SOURCES (USES)
Transfers (out) (2,517) (2,517) -
Total Other Financing Sources (Uses) (2,517) (2,517) -
NET CHANGE IN FUND BALANCE $ (50,506) 623 $ 51,129
Fund balance at beginning of year 228,132
Fund balance at end of year $ 228,755
10.4.a
Packet Pg. 363 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 117
City of San Ramon
Village Center Common Area Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ - $ 45 $ 45
Miscellaneous 6,006 6,006 -
TOTAL REVENUES 6,006 6,051 45
EXPENDITURES
Current:
Public works 5,963 4,887 1,076
TOTAL EXPENDITURES 5,963 4,887 1,076
Excess (deficiency) of revenue
over (under) expenditures 43 1,164 1,121
OTHER FINANCING SOURCES (USES)
Total Other Financing Sources (Uses) - - -
NET CHANGE IN FUND BALANCE $ 43 1,164 $ 1,121
Fund balance at beginning of year 73,403
Fund balance at end of year $ 74,567
10.4.a
Packet Pg. 364 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 118
City of San Ramon
Solid Waste Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Intergovernmental $ 20,000 $ 20,672 $ 672
Investment income - (716) (716)
Miscellaneous 1,096,974 1,081,927 (15,047)
TOTAL REVENUES 1,116,974 1,101,883 (15,091)
EXPENDITURES
Current:
Public works 1,404,299 850,657 553,642
TOTAL EXPENDITURES 1,404,299 850,657 553,642
Excess (deficiency) of revenue
over (under) expenditures (287,325) 251,226 538,551
NET CHANGE IN FUND BALANCE $ (287,325) 251,226 $ 538,551 Fund balance at beginning of year 942,345
Fund balance at end of year $ 1,193,571
10.4.a
Packet Pg. 365 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 119
City of San Ramon
Non-Point Drainage District Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Charges for services $ 1,250 $ 1,250
Investment income 45 45
Special assessments 1,197,235 1,096,824 (100,411)
Miscellaneous 6,000 2,000 (4,000)
TOTAL REVENUES 1,203,235 1,100,119 (103,116)
EXPENDITURES
Current:
Public works 1,231,462 1,130,985 100,477
TOTAL EXPENDITURES 1,231,462 1,130,985 100,477
Excess (deficiency) of revenue
over (under) expenditures (28,227) (30,866) (2,639)
NET CHANGE IN FUND BALANCE $ (28,227) (30,866) $ (2,639) Fund balance at beginning of year 162,732
Fund balance at end of year $ 131,866
10.4.a
Packet Pg. 366 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 120
City of San Ramon
Street Smarts Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Intergovernmental 202,750 106,054 (96,696)
Investment income 252 252
Miscellaneous 18,750 20,750 2,000
TOTAL REVENUES 221,500 127,056 (94,444)
EXPENDITURES
Current:
Public works 221,031 114,237 106,794
TOTAL EXPENDITURES 221,031 114,237 106,794
Excess (deficiency) of revenue
over (under) expenditures 469 12,819 12,350
OTHER FINANCING SOURCES (USES)
Transfers in 35,000 35,000 -
Total Other Financing Sources (Uses) 35,000 35,000 -
NET CHANGE IN FUND BALANCE $ 35,469 47,819 $ 12,350
Fund balance at beginning of year 393,379
Fund balance at end of year $ 441,198
10.4.a
Packet Pg. 367 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 121
City of San Ramon
TDM Programs Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Intergovernmental $ 615,072 $ 339,630 $ (275,442)
Investment income (605) (605)
TOTAL REVENUES 615,072 339,025 (276,047)
EXPENDITURES
Current:
Public works 615,072 339,025 276,047
TOTAL EXPENDITURES 615,072 339,025 276,047
NET CHANGE IN FUND BALANCE $ - - $ -
Fund balance at beginning of year -
Fund balance at end of year $ -
10.4.a
Packet Pg. 368 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 122
City of San Ramon
Police Services Donation Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Fines and forfeitures $ - $ 21,786 $ 21,786
Investment income - (981) (981)
Miscellaneous - 533 533
TOTAL REVENUES - 21,338 21,338
Excess (deficiency) of revenue
over (under) expenditures - 21,338 21,338
NET CHANGE IN FUND BALANCE $ - 21,338 $ 21,338
Fund balance at beginning of year 314,293
Fund balance at end of year $ 335,631
10.4.a
Packet Pg. 369 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 123
City of San Ramon
Vehicle Refuse Impact Fees Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Charges for services $ 1,522,500 $ 1,513,069 $ (9,431)
Investment income - (7,419) (7,419)
TOTAL REVENUES 1,522,500 1,505,650 (16,850)
Excess (deficiency) of revenue
over (under) expenditures 1,522,500 1,505,650 (16,850)
OTHER FINANCING SOURCES (USES)
Transfers (out) (1,500,000) (1,500,000) -
Total Other Financing Sources (Uses) (1,500,000) (1,500,000) - NET CHANGE IN FUND BALANCE $ 22,500 5,650 $ (16,850)
Fund balance at beginning of year 1,587,073
Fund balance at end of year $ 1,592,723
10.4.a
Packet Pg. 370 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 124
City of San Ramon
Open Space Development Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Developer fees $ 69,000 $ - $ (69,000)
Investment income - 682 682
Miscellaneous - 500,000 500,000
TOTAL REVENUES 69,000 500,682 431,682
EXPENDITURES
Current:
Public works - 15,000 (15,000)
TOTAL EXPENDITURES - 15,000 (15,000)
Excess (deficiency) of revenue
over (under) expenditures 69,000 485,682 416,682
OTHER FINANCING SOURCES (USES)
Transfers (out) (500,000) (500,000) -
Total Other Financing Sources (Uses) (500,000) (500,000) - NET CHANGE IN FUND BALANCE $ (431,000) (14,318) $ 416,682 Fund balance at beginning of year 17,202
Fund balance at end of year $ 2,884
10.4.a
Packet Pg. 371 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 125
City of San Ramon
Development Mitigation Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Developer fees $ 663,735 $ 509,912 $ (153,823)
Investment income - (1,575) (1,575)
TOTAL REVENUES 663,735 508,337 (155,398)
Excess (deficiency) of revenue
over (under) expenditures 663,735 508,337 (155,398)
OTHER FINANCING SOURCES (USES)
Transfers (out) (219,749) (319,749) (100,000)
Total Other Financing Sources (Uses) (219,749) (319,749) (100,000) NET CHANGE IN FUND BALANCE $ 443,986 188,588 $ (255,398) Fund balance at beginning of year 1,601,400
Fund balance at end of year $ 1,789,988
10.4.a
Packet Pg. 372 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 126
City of San Ramon
Preserve Faria Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ - $ (340) $ (340)
Special assessments - 96,497 96,497
TOTAL REVENUES - 96,157 96,157
EXPENDITURES
Current:
Public works 34,510 4,686 29,824
TOTAL EXPENDITURES 34,510 4,686 29,824
Excess (deficiency) of revenue
over (under) expenditures (34,510) 91,471 125,981
OTHER FINANCING SOURCES (USES)
Transfers in 11,606 11,606 -
Transfers (out) (4,175) (4,175) -
Total Other Financing Sources (Uses) 7,431 7,431 -
NET CHANGE IN FUND BALANCE $ (27,079) 98,902 $ 125,981
Fund balance at beginning of year 75,961
Fund balance at end of year $ 174,863
10.4.a
Packet Pg. 373 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 127
City of San Ramon
Traffix Program Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Intergovernmental $ 155,000 $ 179,238 $ 24,238
Investment income - (27) (27)
TOTAL REVENUES 155,000 179,211 24,211
EXPENDITURES
Current:
Public works 155,000 140,103 14,897
TOTAL EXPENDITURES 155,000 140,103 14,897
Excess (deficiency) of revenue
over (under) expenditures - 39,108 39,108
NET CHANGE IN FUND BALANCE $ - 39,108 $ 39,108
Fund balance at beginning of year 66,754
Fund balance at end of year $ 105,862
10.4.a
Packet Pg. 374 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 128
City of San Ramon
GHAD – Dougherty Valley Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Licenses and permits $ 6,000 $ 5,520 $ (480)
Investment income 71,583 (8,633) (80,216)
Special assessments 2,182,400 2,165,128 (17,272)
Miscellaneous 47,685 36,988 (10,697)
TOTAL REVENUES 2,307,668 2,199,003 (108,665)
EXPENDITURES
Current:
Public works 826,986 496,068 330,918
TOTAL EXPENDITURES 826,986 496,068 330,918
Excess (deficiency) of revenue
over (under) expenditures 1,480,682 1,702,935 222,253
OTHER FINANCING SOURCES (USES)
Transfers (out) (586,041) (586,041) -
Total Other Financing Sources (Uses) (586,041) (586,041) - NET CHANGE IN FUND BALANCE $ 894,641 1,116,894 $ 222,253 Fund balance at beginning of year 9,515,294
Fund balance at end of year $ 10,632,188
10.4.a
Packet Pg. 375 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 129
City of San Ramon
GHAD NWSR Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ - $ (1,068) $ (1,068)
Special assessments 306,306 289,556 (16,750)
TOTAL REVENUES 306,306 288,488 (17,818)
EXPENDITURES
Current:
Public works - 200 (200)
TOTAL EXPENDITURES - 200 (200)
Excess (deficiency) of revenue
over (under) expenditures 306,306 288,288 (18,018)
NET CHANGE IN FUND BALANCE $ 306,306 288,288 $ (18,018) Fund balance at beginning of year 308,402
Fund balance at end of year $ 596,690
10.4.a
Packet Pg. 376 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 130
City of San Ramon
San Ramon Housing Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ - $ 14,328 $ 14,328
TOTAL REVENUES - 14,328 14,328
EXPENDITURES
Current:
Housing 724,468 672,889 51,579
TOTAL EXPENDITURES 724,468 672,889 51,579
Excess (deficiency) of revenue
over (under) expenditures (724,468) (658,561) 65,907
NET CHANGE IN FUND BALANCE $ (724,468) (658,561) $ 65,907 Fund balance at beginning of year 10,260,498
Fund balance at end of year $ 9,601,937
10.4.a
Packet Pg. 377 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 131
City of San Ramon
DV Arts Theatre Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ - $ 95 $ 95
Miscellaneous 1,922 1,922
TOTAL REVENUES - 2,017 2,017
Excess (deficiency) of revenue
over (under) expenditures - 2,017 2,017
OTHER FINANCING SOURCES (USES)
Transfers (out) (15,000) (15,500) (500)
Total Other Financing Sources (Uses) (15,000) (15,500) (500) NET CHANGE IN FUND BALANCE $ (15,000) (13,483) $ 1,517
Fund balance at beginning of year, as restated 32,433
Fund balance at end of year $ 18,950
10.4.a
Packet Pg. 378 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 132
City of San Ramon
Pension Obligation Bonds Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ - $ (7,054) $ (7,054)
Miscellaneous 1,400,630 1,395,523 (5,107)
TOTAL REVENUES 1,400,630 1,388,469 (12,161)
EXPENDITURES
Current:
Debt service:
Principal retirement 430,000 430,000 -
Interest and fees 970,630 972,664 (2,034)
TOTAL EXPENDITURES 1,400,630 1,402,664 (2,034)
Excess (deficiency) of revenue
over (under) expenditures - (14,195) (14,195)
OTHER FINANCING SOURCES (USES)
Transfers in 1,400,630 1,400,630 -
Transfers (out) (1,400,630) (1,400,630) -
Total Other Financing Sources (Uses) - - -
NET CHANGE IN FUND BALANCE $ - (14,195) $ (14,195)
Fund balance at beginning of year 33,032
Fund balance at end of year $ 18,837
10.4.a
Packet Pg. 379 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 133
City of San Ramon
LED Lights Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ - $ 1,274 $ 1,274
TOTAL REVENUES - 1,274 1,274
EXPENDITURES
Debt service:
Principal retirement 252,583 252,583 -
Interest and fees 26,190 26,190 -
TOTAL EXPENDITURES 278,773 278,773 -
Excess (deficiency) of revenue
over (under) expenditures (278,773) (277,499) 1,274
OTHER FINANCING SOURCES (USES)
Transfers in 278,773 278,773 -
Total Other Financing Sources (Uses) 278,773 278,773 -
NET CHANGE IN FUND BALANCE $ - 1,274 $ 1,274
Fund balance at beginning of year 5,450
Fund balance at end of year $ 6,724
10.4.a
Packet Pg. 380 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 134
City of San Ramon
COP #12 Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
EXPENDITURES
Debt service:
Principal retirement $ 1,455,000 $ 1,455,000 $ -
Interest and fees 119,075 118,538 537
TOTAL EXPENDITURES 1,574,075 1,573,538 537
Excess (deficiency) of revenue
over (under) expenditures (1,574,075) (1,573,538) 537
OTHER FINANCING SOURCES (USES)
Transfers (out) (7,416,411) (7,416,411) -
Total Other Financing Sources (Uses) (7,416,411) (7,416,411) - NET CHANGE IN FUND BALANCE $ (8,990,486) (8,989,949) $ 537 Fund balance at beginning of year 8,991,023
Fund balance at end of year $ 1,074
10.4.a
Packet Pg. 381 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 135
City of San Ramon
COP #13 Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Year Ended June 30, 2021
Variance with
Final Budget
Positive
Final Actual (Negative)
REVENUES
Investment income $ - $ 91,120 $ 91,120
TOTAL REVENUES - 91,120 91,120
EXPENDITURES
Debt service:
Principal 695,000 695,000 -
Interest and fees 910,500 909,227 1,273
TOTAL EXPENDITURES 1,605,500 1,604,227 1,273
Excess (deficiency) of revenue
over (under) expenditures (1,605,500) (1,513,107) 92,393
OTHER FINANCING SOURCES (USES)
Transfers in 949,085 949,085 -
Transfers (out) (13,865,874) (13,865,874) -
Total Other Financing Sources (Uses) (12,916,789) (12,916,789) - NET CHANGE IN FUND BALANCE $ (14,522,289) (14,429,896) $ 92,393 Fund balance at beginning of year 18,031,157
Fund balance at end of year $ 3,601,261
10.4.a
Packet Pg. 382 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 136
City of San Ramon
Description of Internal Service Funds
Year Ended June 30, 2021
Internal Service Funds are used to account for the financing of goods and services provided by one City department or agency to other departments or agencies of the City, or to other governmental units on a cost reimbursement basis (including depreciation).
The Investment Fund is used to account for the management of investments.
The Equipment Replacement Fund is used to account for replacement of major equipment and vehicles.
Revenues are derived from allocated charges to the department’s general fund.
The Information System Replacement Fund is used to account for replacement of computer related equipment.
The Insurance Liability Fund is used to administer the City employee’s leave payouts, retiree medical benefits, general insurance, and safety programs with the goals of reducing insurance-related costs, maintain appropriate levels of coverage and to build contingent loss reserves.
The Healthcare Fund is used to account for City employee’s healthcare premiums and claims.
The Infrastructure Maintenance Fund is used to account for the cost of maintaining City buildings.
10.4.a
Packet Pg. 383 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 137
City of San Ramon
Internal Service Funds – Combining Statements of Net Position June 30, 2021
Information
Equipment System Infrastructure
Investment Replacement Replacement Insurance Healthcare Maintenance Fund Fund Fund Liability Fund Fund Fund Total
ASSETS
Current assets:
Cash and investments (Note 3) $ 11,282 $ 2,822,548 $ 1,310,963 $ 31,798 $ 280,115 $ 598,889 $ 5,055,595 Restricted cash and investments (Note 3) - - - - 5,121,386 - 5,121,386 Receivables, net:
Accounts - - - 258,196 276 - 258,472
Interest - 7,314 3,376 - - 1,533 12,223
Prepaids - - - 10,243 - - 10,243
Total Current Assets 11,282 2,829,862 1,314,339 300,237 5,401,777 600,422 10,457,919 Non-current assets:
Depreciable capital assets,
net of accumulated depreciation - 3,350,592 - - - - 3,350,592 Total Assets 11,282 6,180,454 1,314,339 300,237 5,401,777 600,422 13,808,511
LIABILITIES
Current liabilities
Accounts payable 6,584 118,996 32,253 9,889 47,542 - 215,264 Accrued payroll 4,698 - - 50,753 - - 55,451
Due to other funds - - - 239,595 - - 239,595
Total Liabilities 11,282 118,996 32,253 300,237 47,542 - 510,310 NET POSITION (Note 9)
Net investment in capital assets - 3,350,592 - - - - 3,350,592 Unrestricted - 2,710,866 1,282,086 - 5,354,235 600,422 9,947,609 Total Net Position $ - $ 6,061,458 $ 1,282,086 $ - $ 5,354,235 $ 600,422 $ 13,298,201
10.4.a
Packet Pg. 384 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Supplementary Information 138
City of San Ramon
Internal Service Funds – Combining Statements of Revenues, Expenses and Changes in Fund Net Position Year Ended June 30, 2021
Information
Equipment System Infrastructure
Investment Replacement Replacement Insurance Healthcare Maintenance Fund Fund Fund Liability Fund Fund Fund Total
Operation revenues:
Charges for services $ - $ 808,810 $ 39,411 $ 3,984,939 $ 6,489,159 $ 1,038 $ 11,323,357 Miscellaneous - 125,515 - 35,303 102,303 - 263,121
Total operating revenues - 934,325 39,411 4,020,242 6,591,462 1,038 11,586,478 Operating expenses:
Personnel services 42,105 - - 2,385,175 - - 2,427,280
Services and supplies - 34,132 209,379 - - - 243,511
Claims and insurance - - - 3,643,619 6,692,391 - 10,336,010 Depreciation - 1,024,290 - - - - 1,024,290
Total operating expenses 42,105 1,058,422 209,379 6,028,794 6,692,391 - 14,031,091 Operating loss (42,105) (124,097) (169,968) (2,008,552) (100,929) 1,038 (2,444,613) Non-operating revenue:
Investment income 42,105 46 950 (2,779) 809,862 (1,533) 848,651 Intergovernmental - - 885,687 - - 885,687
Total non-operating revenues 42,105 46 950 882,908 809,862 (1,533) 1,734,338 Loss before transfers - (124,051) (169,018) (1,125,644) 708,933 (495) (710,275) Transfers:
Transfer in (Note 4 (b)) - 82,540 - 656,350 - - 738,890 Transfer (out) (Note 4 (b)) - (11,000) - - - (659,795) (670,795) Total transfers - 71,540 - 656,350 - (659,795) 68,095
Change in net position - (52,511) (169,018) (469,294) 708,933 (660,290) (642,180) Net position - beginning of year - 6,113,969 1,451,104 469,294 4,645,302 1,260,712 13,940,381 Net position - end of year $ - $ 6,061,458 $ 1,282,086 $ - $ 5,354,235 $ 600,422 $ 13,298,201
10.4.a
Packet Pg. 385 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Supplementary Information 139
City of San Ramon
Internal Service Funds – Combining Statements of Cash Flows Year Ended June 30, 2021
Information
Equipment System Infrastructure
Investment Replacement Replacement Insurance Healthcare Maintenance Fund Fund Fund Liability Fund Fund Fund Total
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from department users $ - $ 942,065 $ 42,186 $ 4,008,758 $ 6,591,186 $ 4,807 $ 11,589,002 Cash payments to suppliers of goods and services 5,947 (23,728) (180,711) 149,942 47,542 - (1,008) Cash payments to employees and services (40,439) - - (6,024,453) (6,692,391) - (12,757,283) Net cash provided by operating activities (34,492) 918,337 (138,525) (1,865,753) (53,663) 4,807 (1,169,289)
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Intergovernmental - - - 885,687 - - 885,687
Transfers in - 82,540 - 656,350 - - 738,890
Transfers (out) - (11,000) - - - (659,795) (670,795)
Cash Flows from Noncapital Financing Activities - 71,540 - 1,542,037 - (659,795) 953,782
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition and construction of capital assets - (908,775) - - - - (908,775) Cash Flows from Capital and Related Financing Activities - (908,775) - - - - (908,775)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment earnings received 42,105 46 950 (2,779) 809,862 (1,533) 848,651 Cash Flows from Investing Activities 42,105 46 950 (2,779) 809,862 (1,533) 848,651 Net change in cash and cash equivalents 7,613 81,148 (137,575) (326,495) 756,199 (656,521) (275,631) Cash and investments at beginning of year 3,669 2,741,400 1,448,538 358,293 4,645,302 1,255,410 10,452,612 Cash and investments at end of year $ 11,282 $ 2,822,548 $ 1,310,963 $ 31,798 $ 5,401,501 $ 598,889 $ 10,176,981
10.4.a
Packet Pg. 386 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Supplementary Information 140
City of San Ramon
Internal Service Funds – Combining Statements of Cash Flows, continued Year Ended June 30, 2021
Information
Equipment System Infrastructure
Investment Replacement Replacement Insurance Healthcare Maintenance Fund Fund Fund Liability Fund Fund Fund Total
RECONCILIATION OF OPERATING INCOME (LOSS) TO
NET CASH PROVIDED BY OPERATING ACTIVITIES:
Operating income (loss) $ (42,105) $ (124,097) $ (169,968) $ (2,008,552) $ (100,929) $ 1,038 (2,444,613) Adjustments to reconcile operating income
to net cash provided by operating activities:
Depreciation and amortization - 1,024,290 - - - - 1,024,290 Change in assets and liabilities:
Accounts receivable - 3,745 - (14,263) (276) - (10,794) Interest receivable - 3,995 2,775 2,779 - 3,769 13,318
Prepaids and deposits - - - (531) - - (531)
Accounts payable 5,947 10,404 28,668 (89,122) 47,542 - 3,439 Accrued payroll 1,666 - - 4,341 - - 6,007
Due to other funds - - - 239,595 - - 239,595
Net cash provided by (used for) operating activities $ (34,492) $ 918,337 $ (138,525) $ (1,865,753) $ (53,663) $ 4,807 $ (1,169,289)
10.4.a
Packet Pg. 387 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, See Notes to Supplementary Information 141
City of San Ramon
Descriptions of Custodial Funds
June 30, 2021
GASB Statement 34 requires that Custodial Funds be presented separately from the Government-wide and Fund financial statements.
Custodial Funds
Custodial Funds reports fiduciary activities by the City on behalf of individuals, governmental entities, and nonpublic organizations.
The Custodial Funds are as follows:
The Cree Court Assessment District Fund is used to account for the debt issued to finance infrastructure improvements and facilities within its boundaries.
The SCCJEPA Trust Fund is used to account for the collection of development related impact fees for distribution to the Town of Danville and Contra Costa County per the SCCJEPA agreement.
The San Ramon Valley Tourism Improvement District Fund is used to account for the collection of Tri- Valley Tourism Business Improvement District assessment on lodging business for which the City is acting only as an agent.
10.4.a
Packet Pg. 388 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 142
City of San Ramon
Combining Statements of Fiduciary Net Position
June 30, 2021
Cree Court San Ramon
Assessment SCCJEPA Valley Tourism Total
District Fund Trust Fund Improvement District Custodial Funds ASSETS
Cash and cash equivalents $ 71,742 $ - $ 86,194 $ 157,936 Interest receivable 5 - 5
Total assets 71,747 - 86,194 157,941
LIABILITIES
Deposits - - 107,652 107,652
Due to other funds - 188,196 - 188,196
Total liabilities - 188,196 107,652 295,848
NET POSITION
Restricted for:
Individuals, Organizations,
and othr governments 71,747 (188,196) (21,458) (137,907) Total net position $ 71,747 $ (188,196) $ (21,458) (137,907)
10.4.a
Packet Pg. 389 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) See Notes to Supplementary Information 143
City of San Ramon
Combining Statements of Changes in Fiduciary Net Position Year Ended June 30, 2021
Cree Court San Ramon
Assessment SCCJEPA Valley Tourism Total
District Fund Trust Fund Improvement District Custodial Funds
ADDITIONS
Investment income $ 117 $ (11,070) $ 15 $ (10,938)
Impact fees - 479,267 - 479,267
Total additions 117 468,197 15 468,329
DEDUCTIONS
Community development - 775,832 - 775,832
Total deductions - 775,832 - 775,832
Net increase (decrease) in
fiduciary net position 117 (307,635) 15 (307,503)
Net position - beginning, as restated 71,630 119,439 (21,473) 169,596 Net position - ending $ 71,747 $ (188,196) $ (21,458) $ (137,907)
10.4.a
Packet Pg. 390 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) Statistical Section
June 30, 2021
City of San Ramon
eidebailly.com
10.4.a
Packet Pg. 391 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 144
City of San Ramon
Miscellaneous Statistical Data
June 30, 2021
This part of the City of San Ramon's annual comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City of San Ramon's overall financial health.
CONTENTS
Page(s)
Financial Trends
These schedules contain trend information to help the reader understand how the City of San Ramon’s financial performance and well-being have changedover time ...........................145-153 Revenue Capacity
These schedules contain information to help the reader assess the City of San Ramon’s most significant local revenue source, the property tax........................................................................154-159 Debt Capacity
These schedules present information to help the reader assess the affordability of the City of San Ramon’s current levels of outstanding debt and our ability to issue additional debt in the future ................................................................................................................................... 160-164 Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment within which the City of San Ramon’s financial activitiestake place.........................165-168 Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information in the City of San Ramon’s financial report relates to the services the City of San Ramon provides and the activitiesit performs. ...................................................................169-172 Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive financial reports for the relevant year.
10.4.a
Packet Pg. 392 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 145
City of San Ramon
Government-Wide Revenues by Source
Last Ten Fiscal Years
Fiscal Year
Charges for
Services
Operating
Grants &
Contribution
Capital Grants
& Contributions Taxes
Unrestricted
Grants &
Contributions
Unrestricted
Investment
Earnings Special Items Miscellaneous Total
2012 $ 8,886,433 $ 22,027,560 $ 12,769,956 $ 33,004,871 $ 68,725 $ 765,755 $ - $ 658,223 $ 78,181,523 2013 8,885,884 26,430,414 21,224,331 28,752,577 38,128 364,864 - 658,478 86,354,676 2014 9,348,125 20,344,930 7,792,579 31,873,118 44,552 934,329 - 6,103,351 76,440,984 2015 10,379,205 8,375,452 20,661,559 32,701,787 249,649 738,368 - 919,352 74,025,372 2016 12,975,507 33,628,638 18,300,560 35,870,195 100,286 605,093 - 436,250 101,916,529 2017 11,214,119 35,947,470 30,233,200 36,197,046 47,706 175,776 - 471,260 114,286,577 2018 13,114,680 33,704,789 3,770,000 37,372,326 66,084 327,941 2,041,845 470,512 90,868,177 2019 10,157,468 36,641,421 2,166,499 40,613,110 39,669 2,502,620 - 2,891,917 95,012,704 2020 7,599,460 37,278,533 2,795,950 39,345,698 750,784 3,294,287 - 2,194,065 93,258,777 2021 6,628,610 37,147,892 3,170,000 39,882,724 946,649 1,041,246 - 494,718 89,311,839 Special Item: Assets transferred from Successor Agency (Note 7) Source: City of San Ramon Finance Department.
Program Revenues General Revenues
$-
$5
$10
$15
$20
$25
$30
$35
$40
$45
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Millions
Charges for Services Capital Grants & Contributions Operating Grants & Contribution Taxes Unrestricted Grants & Contributions Unrestricted Investment Earnings Special Items Miscellaneous -
10.4.a
Packet Pg. 393 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 146
City of San Ramon
Government-Wide Expenses by Function
Last Ten Fiscal Years
Fiscal Year
General
Government
Community
Development
Redevelopment
Activities* Housing Police Services Public Works
Parks &
Comm.
Services Debt Service Total
2012 $ 4,705,554 $ 3,629,772 $ 1,739,062 $ - $ 15,891,547 $ 46,502,699 $ 8,257,793 $ 3,430,515 $ 84,156,942 2013 6,706,998 3,778,893 - 808,780 16,501,843 43,125,287 8,534,078 1,602,570 81,058,449 2014 5,448,270 4,231,229 - 839,689 18,280,088 40,595,096 9,534,445 1,828,930 80,757,747 2015 4,958,010 4,087,620 - 884,366 17,098,714 33,230,480 8,690,941 1,549,984 70,500,115 2016 5,447,838 4,312,666 - 857,894 16,951,992 53,235,400 9,376,348 1,480,226 91,662,364 2017 5,511,125 3,811,113 - 532,789 18,497,953 57,528,031 9,235,946 1,421,758 96,538,715 2018 7,586,147 3,744,306 - 1,255,134 21,366,871 60,581,885 10,596,399 1,349,824 106,480,566 2019 7,305,353 4,413,183 - 404,052 23,569,516 60,000,806 12,121,428 1,261,209 109,075,547 2020 7,973,941 3,985,756 - 147,888 28,698,232 63,480,746 8,728,792 2,074,622 115,089,977 2021 8,945,328 4,722,306 - 692,707 26,984,956 66,663,070 9,296,675 1,971,936 119,276,978 Source: City of San Ramon Finance Department.
* The Redevelopment Agency was dissolved as of January 31, 2012. $0
$10
$20
$30
$40
$50
$60
$70
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Millions
Series1 Series2 Series3 Series4
General Government Community Development Redevelop-ment Activities* Housing Police Services Public Works Parks & Comm. Services Debt Service
10.4.a
Packet Pg. 394 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 147
City of San Ramon
General Governmental Revenues by Source
Last Ten Fiscal Years
Fiscal Year Taxes
License and
Permits
Intergovernmental Charges for
Services
Fines and
Forfeitures
Investment
Income
Developer
Fees
Special
Assessments Misc. Total
2012 $ 33,191,038 $ 1,043,217 $ 15,759,165 $ 4,766,958 $ 373,238 $ 765,755 $ 578,995 $ 5,666,933 $ 3,300,832 $ 65,446,131 2013 28,752,577 1,224,339 16,097,509 5,375,093 377,084 364,864 2,916,545 5,861,999 4,160,335 65,130,345 2014 31,639,628 1,568,690 17,262,900 5,848,351 332,225 934,395 3,024,213 5,970,067 3,823,506 70,403,975 2015 32,968,914 1,371,771 18,892,429 6,390,025 342,759 738,365 2,552,619 6,099,794 4,924,543 74,281,219 2016 35,880,275 1,712,228 22,302,225 7,872,024 424,930 605,112 3,472,736 6,120,389 20,567,310 98,957,229 2017 36,202,806 2,005,548 19,101,812 6,694,011 429,625 187,521 2,611,460 6,295,969 4,917,946 78,446,698 2018 37,372,331 2,687,739 20,527,587 7,836,829 458,940 328,008 3,475,588 6,775,530 5,593,780 85,056,332 2019 40,613,107 2,761,198 22,913,610 8,361,139 489,238 2,506,879 2,136,662 6,829,113 6,235,259 92,846,205 2020 39,345,698 2,060,875 26,842,765 6,911,332 303,509 2,929,628 1,676,360 7,357,518 4,645,014 92,072,699 2021 39,882,724 1,930,271 25,232,056 4,931,783 193,641 192,595 2,615,718 7,633,766 4,701,826 87,314,380 Source: City of San Ramon Finance Department
$0
$5
$10
$15
$20
$25
$30
$35
$40
$45
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Millions
Taxes License and Permits Intergovern-mental Charges for Services Fines and Forfeitures Investment Income Developer Fees Special Assessments Misc.
10.4.a
Packet Pg. 395 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 148
City of San Ramon
Tax Revenue by Source
Last Ten Fiscal Years
Fiscal Year Property Sales & Use
Transient
Occupancy Franchise
Property
Transfer Total Revenues
2012 $ 18,647,314 $ 8,198,736 $ 1,741,065 $ 3,978,051 $ 439,705 $ 33,004,871 2013 13,720,279 8,336,061 2,095,975 4,081,825 518,437 28,752,577 2014 14,631,753 9,696,496 2,246,186 4,244,126 810,014 31,628,575 2015 16,091,598 9,398,739 2,470,971 4,371,778 624,548 32,957,634 2016 17,240,799 10,484,639 2,807,649 4,491,196 845,912 35,870,195 2017 18,478,700 9,328,801 2,894,303 4,579,568 915,674 36,197,046 2018 19,559,287 9,371,941 3,002,708 4,645,223 793,167 37,372,326 2019 20,828,367 10,926,081 3,264,311 4,776,400 817,951 40,613,110 2020 20,770,096 10,606,225 2,316,300 4,994,029 659,048 39,345,698 2021 21,862,847 10,773,143 768,417 5,434,321 1,043,996 39,882,724 Change
2011-2020 17.2% 31.4% -55.9% 36.6% 137.4% 20.8%
Source: City of San Ramon Finance Department
$0
$5
$10
$15
$20
$25
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Millions
Property Sales & Use Transient Occupancy Franchise Property Transfer
10.4.a
Packet Pg. 396 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 149
City of San Ramon
General Governmental Expenditures by Function
Last Ten Fiscal Years
Fiscal Year
General
Government
Community
Development Police Services Public Works
Parks &
Community
Services
Redevelopment* Housing Capital Projects Debt Service Total 2012 $ 4,885,233 $ 3,564,395 $ 16,097,776 $ 21,119,448 $ 7,275,890 $ 1,710,930 $ - $ 9,822,433 $ 17,465,069 $ 81,941,174 2013 4,502,961 3,708,223 16,616,900 21,973,011 7,546,558 - 808,780 6,808,268 2,028,144 63,992,845 2014 4,615,709 3,842,827 16,971,479 23,047,793 7,687,618 - 837,817 7,739,149 3,310,229 68,052,621 2015 4,807,260 4,117,393 17,890,922 24,119,320 7,894,989 - 884,366 6,923,944 3,398,030 70,036,224 2016 5,608,238 4,274,496 18,883,227 26,008,729 8,464,188 - 837,827 29,635,480 3,441,753 97,153,938 2017 5,943,627 3,655,500 19,959,904 29,365,159 8,052,418 - 523,133 9,695,432 3,483,441 80,678,614 2018 6,409,864 3,364,528 20,999,778 31,736,113 8,765,042 - 636,572 10,554,185 3,524,027 85,990,109 2019 6,665,651 4,045,570 21,601,936 29,850,996 8,683,167 - 394,685 13,932,569 3,304,618 88,479,192 2020 7,050,378 3,605,037 22,679,118 43,549,261 6,850,767 - 129,937 4,925,108 4,515,905 93,305,511 2021 7,593,531 4,093,865 23,814,077 45,005,415 6,892,067 - 672,889 6,842,004 4,859,202 99,773,050 Source: City of San Ramon Finance Department.
.
* The Redevelopment Agency was dissolved as of January 31, 2012. $0
$5
$10
$15
$20
$25
$30
$35
$40
$45
$50
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Millions
General Government Community Development Police Services Public Works Parks & Community Services Redevelop-ment* Housing Capital Projects Debt Service
10.4.a
Packet Pg. 397 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 150
City of San Ramon
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
Governmental activities: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Invested in capital assets $ 423,613,403 $ 428,051,285 $ 416,958,256 $ 421,282,671 $ 426,734,431 $ 439,179,307 $ 428,455,890 $ 414,409,089 $ 393,808,218 $ 368,555,622 Restricted 12,683,835 19,267,459 60,785,008 71,705,018 71,688,071 76,664,534 76,793,600 73,914,667 76,891,439 73,759,679 Unrestricted 61,270,974 63,218,964 28,477,681 (16,685,507) (11,892,459) (11,565,936) (15,099,077) (16,195,966) (20,403,067) (21,951,417) Total $ 497,568,212 $ 510,537,708 $ 506,220,945 $ 476,302,182 $ 486,530,043 $ 504,277,905 $ 490,150,413 $ 472,127,790 $ 450,296,590 $ 420,363,884 The City adjusted certain beginning balances during fiscal years 2014-2015 and 2017-2018 to reflect the implementation of GASB Statements 68 and 75.
Financial data shown for the preceding years were not adjusted for the presentation.
June 30,
$(100)
$-
$100
$200
$300
$400
$500
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Millions
Invested in capital assets
Restricted
Unrestricted
10.4.a
Packet Pg. 398 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 151
City of San Ramon
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Expenses:
Governmental activities:
General government $ 4,705,554 $ 6,706,998 $ 5,448,270 $ 4,958,010 $ 5,447,838 $ 5,511,125 $ 7,586,147 $ 7,305,353 $ 7,973,941 $ 8,945,328 Community development 3,629,772 3,778,893 4,231,229 4,087,620 4,312,666 3,811,113 3,744,306 4,413,183 3,985,756 4,722,306 Redevelopment activities * 1,739,062 - - - - - - - - -
Housing - 808,780 839,689 884,366 857,894 532,789 1,255,134 404,052 147,888 692,707 Police services 15,891,547 16,501,843 18,280,088 17,098,714 16,951,992 18,497,953 21,366,871 23,569,516 28,698,232 26,984,956 Public works 46,502,699 21,900,956 40,595,096 33,230,480 53,235,400 57,528,031 60,581,885 60,000,806 63,480,746 66,663,070 Parks and community service 8,257,793 8,534,078 9,534,445 8,690,941 9,376,348 9,235,946 10,596,399 12,121,428 8,728,792 9,296,675 Interest on long-term debt 3,430,515 1,602,570 1,828,930 1,549,984 1,480,226 1,421,758 1,349,824 1,261,209 2,074,622 1,971,936 Total governmental activities expenses 84,156,942 59,834,118 80,757,747 70,500,115 91,662,364 96,538,715 106,480,566 109,075,547 115,089,977 119,276,978 Program revenues:
Governmental activities:
Charges for services:
General government 275,495 261,005 326,112 314,733 312,675 316,360 337,446 355,429 300,852 263,657 Community development 1,773,623 2,158,622 2,626,304 2,125,370 2,595,640 3,069,601 4,446,488 4,212,283 3,558,078 3,279,128 Redevelopment activities 10,931 - - - - - - - - -
Housing - 50,841 73,290 408,999 714,307 6,156 - - - -
Police services 550,414 550,736 437,106 477,577 634,611 476,105 486,757 386,697 50,021 213,727 Public services 2,285,564 1,270,628 1,197,819 2,470,824 3,574,777 2,335,628 2,421,581 867,543 2,180,478 1,237,528 Park and community service 3,990,406 4,594,052 4,687,494 4,581,702 5,143,497 5,010,269 5,422,408 4,335,516 1,510,031 1,634,570 Operating grants and contributions 22,027,560 26,430,414 20,344,930 8,375,452 33,628,638 35,947,470 33,704,789 36,641,421 37,278,533 37,147,892 Capital grants and contributions 12,769,956 - 7,792,579 20,661,559 18,300,560 30,233,200 3,770,000 2,166,499 2,795,950 3,170,000 Total governmental activities
program revenues 43,683,949 35,316,298 37,485,634 39,416,216 64,904,705 77,394,789 50,589,469 48,965,388 47,673,943 46,946,502 Net revenues (expenses): (40,472,993) (24,517,820) (43,272,113) (31,083,899) (26,757,659) (19,143,926) (55,891,097) (60,110,159) (67,416,034) (72,330,476) Changes in Net Position:
Governmental activities:
Taxes:
Property tax, levied for general purpose 13,945,600 13,720,279 14,631,753 16,091,598 17,240,799 18,478,700 19,559,287 20,828,367 20,770,096 21,862,847 Property tax, Redevelopment Agency tax increment 4,701,714 - - - - - - - - - Sales tax 8,198,736 8,336,061 9,941,039 9,142,892 10,484,639 9,328,801 9,371,941 10,926,081 10,606,225 10,773,143 Transient occupancy tax 1,741,065 2,095,975 2,246,186 2,470,971 2,807,649 2,894,303 3,002,708 3,264,311 2,316,300 768,417 Franchise tax 3,978,051 4,081,825 4,244,126 4,371,778 4,491,196 4,579,568 4,645,223 4,776,400 4,994,029 5,434,321 Property transfer tax 439,705 518,437 810,014 624,548 845,912 915,674 793,167 817,951 659,048 1,043,996 Intergovernmental, unrestricted 68,725 38,128 44,552 249,649 100,286 47,706 66,084 39,669 750,784 946,649 Investment income 765,755 364,864 6,731,074 738,368 605,093 175,776 327,941 2,502,620 3,294,287 1,041,246 Special Items - - - - - - 2,041,845 - - -
Other general revenues 658,223 658,478 306,606 919,352 436,250 471,260 470,512 2,891,917 2,194,065 494,718 Total governmental activities 34,497,574 29,814,047 38,955,350 34,609,156 37,011,824 36,891,788 40,278,708 46,047,316 45,584,834 42,365,337 Extraordinary Gain - Successor Agency Trust for Assets
of Former Redevelopment Agency 50,313,485
Changes in net position $ 44,338,066 $ 5,296,227 $ (4,316,763) $ 3,525,257 $ 10,254,165 $ 17,747,862 $ (15,612,389) $ (14,062,843) $ (21,831,200) $ (29,965,139) Special item: Assets transferred from Successor Agency (Note 7) * The Redevelopment Agency was dissolved as of January 31, 2012.
June 30,
10.4.a
Packet Pg. 399 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 152
City of San Ramon
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
General fund:
Nonspendable $ 679,909 $ 264,258 $ 319,520 $ 4,959,508 $ 6,255,670 $ 510,137 $ 207,923 $ 161,958 $ 133,409 $ 139,854 Restricted - - - - - - - - - -
Committed - - - - - - - - - -
Assigned - - - - - - - - - -
Unassigned 8,258,329 11,487,816 11,421,981 5,975,668 6,890,959 9,399,666 7,241,994 13,726,600 15,210,641 19,081,406 Total general fund 8,938,238 11,752,074 11,741,501 10,935,176 13,146,629 9,909,803 7,449,917 13,888,558 15,344,050 19,221,260 All other governmental funds:
Nonspendable 9,842 3,503,907 10,400 26,481 102,722 9,444,363 39,785 12,944 240 - Restricted 51,687,896 54,852,806 59,984,958 70,645,724 70,466,220 66,210,405 75,726,288 72,785,759 93,671,572 77,360,940 Committed 330,681 543,059 784,725 1,032,813 1,119,129 1,010,791 1,027,527 1,115,964 577,704 517,034 Unassigned - - - - - (1,025) - - - -
Total all other governmental funds $ 52,028,419 $ 58,899,772 $ 60,780,083 $ 71,705,018 $ 71,688,071 $ 76,664,534 $ 76,793,600 $ 73,914,667 $ 94,249,516 $ 77,877,974 June 30,
10.4.a
Packet Pg. 400 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 153
City of San Ramon
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Revenues:
Taxes $ 33,191,038 $ 28,752,577 $ 31,639,628 $ 32,968,914 $ 35,880,275 $ 36,202,806 $ 37,372,331 $ 40,613,107 $ 39,345,698 $ 39,882,724 Licenses and permits 1,043,217 1,224,339 1,568,690 1,371,771 1,712,228 2,005,548 2,687,739 2,761,198 2,060,875 1,930,271 Intergovernmental 15,759,165 16,097,509 17,262,900 18,892,429 22,302,225 19,101,812 20,527,587 22,913,610 26,842,765 25,232,056 Developer fees 578,995 2,916,545 3,024,213 2,552,619 3,472,736 2,611,460 3,475,588 2,136,662 1,676,360 2,615,718 Charges for services 4,766,958 5,375,093 5,848,351 6,390,025 7,872,024 6,694,011 7,836,829 8,361,139 6,911,332 4,931,783 Fines and forfeitures 373,238 377,084 332,225 342,759 424,930 429,625 458,940 489,238 303,509 193,641 Investment income 765,755 364,864 934,395 738,365 605,112 187,521 328,008 2,506,879 2,929,628 192,595 Special assessments 5,666,933 5,861,999 5,970,067 6,099,794 6,120,389 6,295,969 6,775,530 6,829,113 7,357,518 7,633,766 Miscellaneous 3,300,832 4,160,335 3,823,506 4,924,543 20,567,310 4,917,946 5,593,780 6,235,259 4,645,014 4,701,826 Total revenues 65,446,131 65,130,345 70,403,975 74,281,219 98,957,229 78,446,698 85,056,332 92,846,205 92,072,699 87,314,380 Expenditures
Current:
General government 4,885,233 4,502,961 4,615,709 4,807,260 5,608,238 5,943,627 6,409,864 6,665,651 7,050,378 7,593,531 Community development 3,564,395 3,708,223 3,842,827 4,117,393 4,274,496 3,655,500 3,364,528 4,045,570 3,605,037 4,093,865 Housing - 808,780 837,817 884,366 837,827 523,133 636,572 394,685 129,937 672,889 Police Services 16,097,776 16,616,900 16,973,606 17,890,922 18,883,227 19,959,904 20,999,778 21,601,936 22,679,118 23,814,077 Public works 21,119,448 21,973,011 23,047,793 24,119,320 26,008,729 29,365,159 31,736,113 29,850,996 43,549,261 45,005,415 Parks & community services 7,275,890 7,546,558 7,687,618 7,894,989 8,464,188 8,052,418 8,765,042 8,683,167 6,850,767 6,892,067 Redevelopment 1,710,930 - - - - - - - - -
Capital Outlay 9,822,433 6,808,268 7,739,149 6,923,944 29,635,480 9,695,432 10,554,185 13,932,569 4,925,108 6,842,004 Debt service:
Principal 13,670,000 415,221 1,673,678 1,820,102 1,934,176 2,033,848 2,144,142 2,015,080 2,447,941 2,832,583 Interest and fees 3,795,069 1,612,923 1,634,424 1,577,928 1,507,577 1,449,593 1,379,885 1,289,538 1,730,353 2,026,619 Cost of Issuance - - - - - - - - 337,611 -
Total expenditures 81,941,174 63,992,845 68,052,621 70,036,224 97,153,938 80,678,614 85,990,109 88,479,192 93,305,511 99,773,050 Excess (deficiency) of
revenues over (under) expenditures (16,495,043) 1,137,500 2,351,354 4,244,995 1,803,291 (2,231,916) (933,777) 4,367,013 (1,232,812) (12,458,670) Other financing sources (uses):
Proceeds (Loss) from sale of property - - - - - 5,606,679 (636,459) - - - Transfers in 59,233,924 14,515,778 12,858,271 16,518,219 23,429,979 19,035,672 19,230,868 20,706,291 33,601,529 43,308,523 Transfers (out) (58,710,132) (14,569,446) (13,339,887) (16,425,766) (23,038,763) (20,670,798) (19,991,452) (21,513,596) (34,926,761) (43,376,618) Issuance of bonds 14,896,857 - - - - - - - 20,990,000 - Premiums on bonds issued - - - - - - - - 3,358,385 -
Total other financing sources (uses) 15,420,649 (53,668) (481,616) 92,453 391,216 3,971,553 (1,397,043) (807,305) 23,023,153 (68,095) Extraordinary loss (18,555,588) - - - - - - - - -
Net change in fund balances $ (19,629,982) $ 1,083,832 $ 1,869,738 $ 4,337,448 $ 2,194,507 $ 1,739,637 $ (2,330,820) $ 3,559,708 $ 21,790,341 $ (12,526,765) Debt service as a percentage of
noncapital expenditures 24% 4% 5% 5% 5% 5% 5% 4% 5% 5%
10.4.a
Packet Pg. 401 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 154
City of San Ramon
Assessed Value and Estimated Actual Value of Taxable Property – Taxable Property Last Ten Fiscal Years
Fiscal Year Ended
June 30 Secured Unsecured
Taxable Assessed
Value
Total Direct
Tax Rate
2012 14,279,958,445 372,954,042 14,652,912,487 0.07740
2013 14,303,318,095 363,496,493 14,666,814,588 0.07600
2014 15,118,312,790 404,102,025 15,522,414,815 0.07590
2015 16,562,364,762 421,617,203 16,983,981,965 0.07470
2016 17,932,287,779 386,528,547 18,318,816,326 0.06940
2017 18,989,294,954 422,241,773 19,411,536,727 0.05810
2018 20,287,909,650 375,570,677 20,663,480,327 0.07610
2019 21,326,489,207 383,728,161 21,710,217,368 0.09620
2020 22,239,569,802 409,923,340 22,649,493,142 0.08740
2021 23,142,334,289 391,139,999 23,533,474,288 0.09040
Source: Contra Costa County Auditor-Controller's Office - Certificate of Assessed Valuation The Taxable Assessed Value is the Total Gross Assessed Valuation less Homeowner's Exemptions Note:
In 1978 the voters of the State of California passed Proposition 13 which limited property taxes to a maximum rate of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased by an "inflation factor" (limited to a maximum increase of 2%). With few exceptions, property is only reassessed at the time that it is sold to a new owner. At that point, the new assessed value is reassessed at the purchase price of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above. $0
$10
$20
2012 2013 2014 2015 2016 2017 2018 2019
2020 2021
Billions
Unsecured Property Secured Property
10.4.a
Packet Pg. 402 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 155
City of San Ramon
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
Overlapping Rates
Fiscal Year
City of San
Ramon Direct
Rate
Bay Area Rapid
Transit
East Bay
Regional Park
San Ramon
Unified School
District
Contra Costa
County
Community
Colleges
Subtotal
Overlapping
Rate
TOTAL
DIRECT
RATE
2012/13 0.0774 0.0043 0.0051 0.0705 0.0087 0.0886 0.1660 2013/14 0.0760 0.0075 0.0078 0.0696 0.0133 0.0982 0.1742 2014/15 0.0759 0.0045 0.0085 0.0651 0.0252 0.1033 0.1792 2015/16 0.0747 0.0026 0.0067 0.0624 0.0220 0.0937 0.1684 2016/17 0.0694 0.0080 0.0032 0.0652 0.0120 0.0884 0.1578 2017/18 0.0581 0.0084 0.0021 0.0552 0.0114 0.0771 0.1352 2018/19 0.0761 0.0070 0.0021 0.0750 0.0110 0.0951 0.1712 2019/20 0.0962 0.0120 0.0094 0.0750 0.0188 0.1152 0.2114 2020/21 0.0874 0.0139 0.0014 0.0750 0.0161 0.1064 0.1938 2021/22 0.0904 0.0060 0.0020 0.0750 0.0176 0.1006 0.1910 Source: Contra Costa County Auditors Controller's Office -
0.0200
0.0400
0.0600
0.0800
0.1000
0.1200
0.1400
2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 City of San Ramon Direct Rate
Bay Area Rapid Transit
East Bay Regional Park
San Ramon Unified School District
Contra Costa County Community Colleges
Subtotal Overlapping Rate
10.4.a
Packet Pg. 403 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 156
City of San Ramon
Principal Sales Tax Producers
Year ended June 30, 2021
FIRM BUSINESS DESCRIPTION
CANARY MARKETING PROMOTIONAL PRODUCTS SUPPLIER
CHEVRON FUEL & SERVICE STATIONS
DEVIL MOUNTAIN WHOLESALE NURSERY NURSERY
DIABLO VALLEY CABINETRY CABINETRY
FUEL & MARINE MARKETING MARINE LUBRICANTS & RESIDUAL FUELS
HELLER JEWELERS JEWELRY STORE
HOME DEPOT BUILDING MATERIALS STORE
HOME GOODS DISCOUNT RETAIL STORE
LEHIGH CEMENT WEST BUILDING MATERIALS WHOLESALE
LEHIGH SOUTHWEST CEMENT COMPANY BUILDING MATERIALS WHOLESALE LONGI SOLAR TECHNOLOGY US, INC. RENEWABLE ENERGY
MORGAN MASONRY SUPPLY BUILDING MATERIAL STORE
OKONITE COMPANY INSULATED WIRE/CABLE MANUFACTURER
SAFEWAY FUEL FUEL & SERVICE STATIONS
SAFEWAY STORES SUPERMARKETS
SIEMENS ENERGY RENEWABLE ENERGY
TARGET DEPARTMENT STORES
TOTAL WINE & MORE LIQUOR STORE
VALERO GAS STATION
WALMART NEIGHBORHOOD MARKET SUPERMARKETS
Source: Hdl Companies
10.4.a
Packet Pg. 404 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 157
City of San Ramon
Principal Property Taxpayers
Current Fiscal Year and Nine Years Ago
2021
Taxpayer Assessed Valuation Rank
Percentage of
Total Taxable
Assessed Value
Sunset Building Co. LLC/Sunset Land Co. LLC $ 441,025,014 1 1.87% Chevron USA Inc. 370,396,996 2 1.57%
2600 CR LLC 346,089,592 3 1.47%
Essex Portfolio LP/Essex San Ramon Partners LP 289,229,785 4 1.23% Shapell Industries Inc. 207,557,363 5 0.88%
Faria Preserve LLC 186,333,537 6 0.79%
SDC 7 181,852,203 7 0.77%
BRE Properties Inc. 134,538,714 8 0.57%
Alexander Properties Co. 110,013,987 9 0.47%
Clancy Investment Company LLC 107,307,845 10 0.46%
Total $ 2,374,345,036
2020-2021 Assessed Valuation: $ $ 23,533,474,288 **
2011-2012 Assessed Valuation: $ $ 14,279,958,445 **
** Local Secured Assessed Valuation
Assessed Valuation includes Net Secured Property Tax Roll plus Homeowners Exemption Source: California Municipal Statistics, Inc.
Sunset Building Co. LLC/Sunset Land Co.
LLC
Chevron USA Inc.
2600 CR LLC
Essex Portfolio LP/Essex San Ramon
Partners LP
Shapell Industries Inc.
Faria Preserve LLC
SDC 7
BRE Properties Inc.
Alexander Properties Co.
Clancy Investment Company LLC
10.4.a
Packet Pg. 405 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 158
City of San Ramon
Principal Property Taxpayers, continued
Current Fiscal Year and Nine Years Ago
2012
Taxpayer Assessed Valuation Rank
Percentage of
Total Taxable
Assessed Value
Sunset Building Co. LLC/Sunset Land Co. LLC $ 368,623,158 1 2.58% Chevron USA Inc. 357,552,811 2 2.50%
Essex Portfolio LP/Essex San Ramon Partners LP 215,866,398 3 1.51% Shapell Industries Inc. 204,817,662 4 1.43%
SDC 7 156,140,766 5 1.09%
Annabel Investment Co. 152,016,184 6 1.06%
Alexander Properties Co. 93,608,495 7 0.66%
Legacy III SR Crow Canyon LLC 88,171,066 8 0.62%
San Ramon Regional Medical Center 62,231,446 9 0.44%
Wittschen Capital Resources LP 59,576,300 10 0.42%
$ 1,758,604,286
Sunset Building Co. LLC/Sunset Land Co.
LLC
Chevron USA Inc.
Essex Portfolio LP/Essex San Ramon
Partners LP
Shapell Industries Inc.
SDC 7
Annabel Investment Co.
Alexander Properties Co.
Legacy III SR Crow Canyon LLC
San Ramon Regional Medical Center
Wittschen Capital Resources LP
10.4.a
Packet Pg. 406 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 159
City of San Ramon
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal Year Ended
June 30
Total Tax*
Levy for
Fiscal Year Amount
Percentage of
Levy Amount
Percentage of
Levy
2012 $ 11,345,100 $ 11,345,100 100% $ 11,345,100 100%
2013 11,152,848 11,152,848 100% 11,152,848 100%
2014 11,786,675 11,786,675 100% 11,786,675 100%
2015 12,693,581 12,693,581 100% 12,693,581 100%
2016 13,638,715 13,638,715 100% 13,638,715 100%
2017 14,350,584 14,350,584 100% 14,350,584 100%
2018 15,077,288 15,077,288 100% 15,077,288 100%
2019 15,813,441 15,813,441 100% 15,813,441 100%
2020 16,428,794 16,428,794 100% 16,428,794 100%
2021 17,094,563 17,094,563 100% 17,094,563 100%
Source: Contra Costa County Auditor-Controller's Office * Does not include Supplemental / Unitary & Operating Non-Unitary Collected within the
Fiscal Year of the Levy Total Collections to Date
$0
$5
$10
$15
$20
$25
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Millions
Tax Collections
10.4.a
Packet Pg. 407 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 160
City of San Ramon
Ratios of Debt Outstanding
Last Ten Fiscal Years
Fiscal Year Certificates Tax Pension Percent of Percent of Ended of Allocation Revenue Obligation Capital Premium on Notes Assessed Personal Per June 30 Participation Bonds * Bonds Bonds Leases Debt Payable Total Value Income Capita 2012 12,785,000 - - 17,315,000 2,720,562 579,944 - 33,400,506 0.2279% 1.5008% 273 2013 12,605,000 - - 17,170,000 2,976,068 535,333 - 33,286,401 0.2270% 1.4620% 269 2014 11,345,000 - - 16,990,000 2,742,390 490,722 - 31,568,112 0.2034% 1.3674% 258 2015 9,970,000 - - 16,775,000 2,512,288 446,111 - 29,703,399 0.1749% 1.2664% 249 2016 8,535,000 - - 16,520,000 2,294,415 401,500 - 27,750,915 0.1515% 1.1861% 243 2017 7,065,000 - - 16,215,000 2,035,567 356,889 - 25,672,456 0.1323% 1.0674% 229 2018 5,550,000 - - 15,860,000 1,761,425 312,278 - 23,483,703 0.1136% 0.9516% 216 2019 4,210,000 - - 15,475,000 1,471,345 267,667 - 21,424,012 0.0987% 0.8545% 204 2020 23,395,000 - - 15,070,000 1,233,404 3,532,194 - 43,230,598 0.1909% 1.7417% 238 2021 21,245,000 - - 14,640,000 980,821 3,455,147 - 40,320,968 0.1713% 1.6100% 227 Source: City of San Ramon Finance Department
* The balance of Tax Allocation Bonds was transferred to the Successor Agency as of February 1, 2012 Outstanding Debt
-
5 10
15 20
25 30
35 40
45 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
millions
Total Outstanding Debt
10.4.a
Packet Pg. 408 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 161
City of San Ramon
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Fiscal Year Certificates Tax Pension Total Total Percentage Percentage Debt Ended of Allocation Revenue Obligation Premium on Notes Governmental Primary of Assessed of Personal Per June 30 Participation (1) Bonds (1) Bonds* (1) Bonds (1) Capital lease (1) Debt (1) Payable (1) Activities Government Value of Property (2) Income (3) Capita (4) 2012 12,785,000 - - 17,315,000 2,720,562 579,944 - 33,400,506 33,400,506 0.23% 1.50% 273 2013 12,605,000 - - 17,170,000 2,976,068 535,333 - 33,286,401 33,286,401 0.23% 1.46% 269 2014 11,345,000 - - 16,990,000 2,742,390 490,722 - 31,568,112 31,568,112 0.20% 1.37% 258 2015 9,970,000 - - 16,775,000 2,512,288 446,111 - 29,703,399 29,703,399 0.17% 1.27% 249 2016 8,535,000 - - 16,520,000 2,294,415 401,500 - 27,750,915 27,750,915 0.15% 1.19% 243 2017 7,065,000 - - 16,215,000 2,035,567 356,889 - 25,672,456 25,672,456 0.13% 1.07% 229 2018 5,550,000 - - 15,860,000 1,761,425 312,278 - 23,483,703 23,483,703 0.11% 0.95% 216 2019 4,210,000 - - 15,475,000 1,471,345 267,667 - 21,424,012 21,424,012 0.10% 0.85% 204 2020 23,395,000 - - 15,070,000 1,233,404 3,532,194 - 43,230,598 43,230,598 0.19% 1.74% 238 2021 21,245,000 - - 14,640,000 980,821 3,455,147 - 40,320,968 40,320,968 0.17% 1.61% 227 Notes: Details regarding the City's outstanding debt can be found in the notes to the financial statements.
The City is expressing total outstanding debt as a percentage of taxable assessed property values as provided by the Contra Costa County Auditor-Controller's Office.
The balance of Tax Allocation Bonds, Tax Revenue Bonds and HELP Loan was transferred to the Successor Agency as of February 1, 2012 Source: (1) City of San Ramon Finance Department
Source: (2) Contra Costa County Auditor-Controller's Office Source: (3) Bureau of Economic Analysis/State of California Franchise Tax Board Source: (4) Debt per Capita is calculated from total debt outstanding less reserves available * The City issued revenue bonds in fiscal years 2005 and 2006 ** The City entered into lease agreements on July 10, 2006 and August 1, 2012 *** In April 2007 the Redevelopment Agency received a Housing Enabled by Local Partnership ("HELP") loan from the California Housing Finance Agency ("CalHFA").
Governmental Activities
$0
$50
$100
$150
$200
$250
$300
$350
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Debt Outstanding Per Capita
10.4.a
Packet Pg. 409 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 162
City of San Ramon
Direct and Overlapping Debt
June 30, 2021
2020-21 Assessed Valuation: $23,533,474,288 *
Total Debt City’s Share of
OVERLAPPING TAX AND ASSESSMENT DEBT: 6/30/2021 % Applicable (1) Debt 6/30/21 Bay Area Rapid Transit District $1,871,890,000 2.736% $51,214,910 Chabot-Las Positas Community College District 593,290,000 0.005 2,687,604 Contra Costa Community College District 596,325,000 0.101 60,294,421 San Ramon Valley Unified School District 416,480,000 43.11% 179,527,869 East Bay Regional Park District 133,170,000 0.044 5,830,183 ABAG Windemere Ranch Community Facilities District No. 2004-2 29,140,584 100.00% 29,140,584 ABAG Windemere Ranch 1915 Act Bonds 60,041,742 100.00% 60,041,742 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 388,737,313
DIRECT AND OVERLAPPING GENERAL FUND DEBT:
Contra Costa County General Fund Obligations $254,570,000 10.358% 26,368,361 Contra Costa County Pension Obligations 44,925,000 10.36% 4,653,332 San Ramon Valley Unified School District General Fund Obligations 20,510,677,000 0.04% 8,841,332 City of San Ramon Certificates of Participation (including premiums) 24,700,147 100.00% 24,700,147 City of San Ramon Pension Obligation 14,640,000 100.00% 14,640,000 City of San Ramon Capital Leases 980,821 100.00% 980,821 San Ramon Valley Fire Protection District Certificates of Participation 49,694,383 43.34% 21,538,043 GROSS DIRECT OVERLAPPING GENERAL FUND DEBT 101,722,036
Less: Contra Costa County Obligations supported from revenue funds (4,244,990) NET DIRECT AND OVERLAPPING GENERAL FUND DEBT $ 97,477,046 OVERLAPPING TAX INCREMENT DEBT (Successor Agency): $ 53,068,606 100% $ 53,068,606 TOTAL DIRECT DEBT $ 40,320,968
TOTAL GROSS OVERLAPPING DEBT $ 503,206,987
TOTAL NET OVERLAPPING DEBT $ 498,961,997
GROSS COMBINED TOTAL DEBT $ 543,527,955 (2)
NET COMBINED TOTAL DEBT $ 547,772,945
1) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value.
Applicable percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's total taxable assessed value. 2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations.
Ratios to 2020-21 Assessed Valuation:
Total Overlapping Tax and Assessment Debt………………………….. 1.65% Total Direct Debt ($21,424,012)……………………………………… 0.17%
Gross Combined Total Debt……………………………………………. 2.31%
Net Combined Total Debt………………………………………………. 2.33%
Ratios to Redevelopment Successor Agency Incremental Valuation ($1,341,758,792):
Total Overlapping Tax Incremental Debt……………………………….. 3.96% * Assessed Valuation includes Net Secured and Unsecured Property Tax Roll plus Homeowners Exemption Source: California Municipal Statistics, Inc.
Note: Need to add Capital Lease total as part of the City of San Ramon total direct debt.
10.4.a
Packet Pg. 410 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 163
City of San Ramon
Legal Debt Margin Information
Last Ten Fiscal Years
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Debt limit $ 882,505,286 $ 849,355,993 $ 814,133,151 $ 774,880,512 $ 727,932,627 $ 686,955,612 $ 636,899,324 $ 570,541,001 $ 537,177,396 $ 536,457,471 Total net debt applicable to limit 24,700,147 26,927,194 4,477,667 5,862,278 7,421,889 8,936,500 10,416,111 11,549,555 12,828,151 13,026,747 Legal debt margin $ 857,805,139 $ 822,428,799 $ 809,655,484 $ 769,018,234 $ 720,510,738 $ 678,019,112 $ 626,483,213 $ 558,991,446 $ 524,349,245 $ 523,430,724 Total net debt applicable to the limit
as a percentage of debt limit 2.8% 3.2% 0.5% 0.8% 1.0% 1.3% 1.6% 2.0% 2.4% 2.4% Legal Debt Margin Calculation
Converted assessed value (at 25% of Taxable Value) $ 5,883,368,572 Debt limit (15% of assessed value) $ 882,505,286
Debt applicable to limit:
Certificates of Participation 24,700,147
Legal debt margin $ 857,805,139
The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation. However, this provision was enacted when assessed valuation was based upon 25% of market value. Effective with the 1981-82 fiscal year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for that parcel). Although the statutory debt limit has not been amended by the State since this change, the percentages presented in the above computations have been proportionately modified to 3.75% (25% of 15%) for the purpose of this calculation in order to be consistent with the computational effect of the debt limit at the time of the state's establishment of the limit.
Source: City Finance Department
June 30,
10.4.a
Packet Pg. 411 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 164
City of San Ramon
Pledge-Revenue Coverage
Last Ten Fiscal Years
Fiscal Year
Ended Tax
June 30 Increment Principal * Interest * Coverage
2012 $ 4,701,714 $ - $ 1,741,259 2.70
2013 - - - -
2014 - - - -
2015 - - - -
2016 - - - -
2017 - - - -
2018 - - - -
2019 - - - -
2020 - - - -
2021 - - - -
Principal and interest payments are recorded through January 31, 2012.
Source: City Finance Department
Note: Details regarding the city's outstanding debt can be found in the notes to the financial statements. * The balance of the Tax Allocation Bonds was transferred to the Successor Agency as of February 1, 2012.
Debt Service
Tax Allocation Bonds
10.4.a
Packet Pg. 412 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) This page intentionally left blank.
10.4.a
Packet Pg. 413 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 165
City of San Ramon
Demographics Statistics
Last Ten Fiscal Years
Fiscal Year
City of San Ramon
Population (1)
Percent Change In
Population
City of San Ramon
Personal Income (2)
**
City of San Ramon
Per Capita Income(3)
2012 74,378 1.7% 2,225,547 69,713
2013 76,154 2.3% 2,276,734 71,316
2014 77,270 1.4% 2,308,609 72,315
2015 78,561 1.6% 2,345,546 73,472
2016 78,363 -0.3% 2,339,682 73,291
2017 80,550 2.8% 2,405,193 75,343
2018 82,643 2.6% 2,467,728 77,302
2019 83,957 1.6% 2,507,212 78,539
2020 83,118 -1.0% 2,482,140 77,753
2021 83,863 0.9% 2,504,479 78,453
Note: City of San Ramon personal income for years 2012-2021 and City of San Ramon per capita income for 2011-2020 are estimates based upon the percent of change in population as provided by the Department of Commerce, Bureau of Economic Analysis.
Source: (1) State of California Department of Finance
(2) Bureau of Economic Analysis/ State of California Franchise Tax Board (3) State of California Employment Development Department * Information was not available for FY2012 through FY2021 ** In Thousands
4%
5%
6%
7%
8%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
City Population as a Percentage of County Population % of County 0 1,000,000
2,000,000
3,000,000
Contra Costa County Population (1)
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Packet Pg. 414 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 166
City of San Ramon
Demographics Statistics, continued
Last Ten Fiscal Years
City of San Ramon
Unemployment Rates
(3)
Contra Costa County
Population (1) Contra Costa County Per Capita Income (2)
3.90% 1,065,117 *
3.60% 1,074,702 *
2.80% 1,087,008 *
3.30% 1,102,871 *
3.30% 1,123,429 *
2.80% 1,139,513 *
2.90% 1,149,363 *
2.30% 1,155,879 *
5.70% 1,153,561 *
4.00% 1,153,854 *
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$100,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
City of San Ramon Per Capita Income(3)
0.00%
2.50%
5.00%
7.50%
10.00%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
City of San Ramon Unemployment Rates (3)
10.4.a
Packet Pg. 415 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 167
City of San Ramon
Annual Average Employment and Unemployment Rates
Last Ten Fiscal Years
Fiscal Year
City of San Ramon
Labor Force City of San Ramon County of Contra Costa State of California 2012 28,500 3.9% 9.4% 10.7%
2013 29,200 3.6% 8.7% 10.4%
2014 29,500 2.8% 7.0% 8.5%
2015 39,700 3.3% 4.9% 6.2%
2016 39,800 3.3% 4.9% 5.7%
2017 39,900 2.8% 4.1% 4.9%
2018 40,100 2.9% 3.5% 4.5%
2019 39,900 2.3% 3.2% 3.7%
2020 38,400 5.7% 7.9% 9.0%
2021 37,400 5.3% 7.0% 7.6%
Source: State of California Employment Development Department Annual Average Unemployment Rates
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
City of San Ramon
County of Contra Costa
State of California
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Packet Pg. 416 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 168
City of San Ramon
Principal Employers
Current Fiscal Years and Nine Years Ago
Number of Percent of Total Number of Percent of Total
Employer Employees Employment Employer Employees Employment Chevron USA Inc 4,000 10.70% Chevron USA Inc 3,500 12.28% PG&E 2,346 6.27% AT&T 1,753 6.15%
Bank of the West 1,600 4.28% Bank of the West 1,600 5.61% Robert Half International Inc. 1,285 3.44% Robert Half International Inc. 1,100 3.86% Accenture LLP 750 2.01% Accenture 750 2.63%
San Ramon Regional Medical Center 650 1.74% PG&E 604 2.12% Primed Management Consulting 453 1.21% San Ramon Regional Medical Center 500 1.75% United Parcel Service 315 0.84% General Electric Company 500 1.75% GE Digital LLC 284 0.76% Primed Management Consulting 413 1.45% Pacific Bell Telephone 265 0.71% IBM Corporation 408 1.43% Source: City of San Ramon Finance Department
2021 2012
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Packet Pg. 417 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 169
City of San Ramon
Full-Time Equivalent City Government Employees by Function Last Ten Fiscal Years
Full-Time Equivalent Employees as of June 30,
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Function/Program
General Government
Management Services 9.00 10.00 10.00 9.00 9.00 9.00 9.00 7.00 9.00 9.00 Administrative Services 19.00 20.00 20.00 20.00 19.00 18.00 17.00 17.00 18.00 18.00 Total General Government 28.00 30.00 30.00 29.00 28.00 27.00 26.00 24.00 27.00 27.00 Community Development
Planning Services 9.00 8.00 8.00 8.00 8.00 8.00 8.00 7.00 8.00 8.00 Transportation Services* - - - - - - 4.00 2.00 4.00 4.00 Building Services 10.00 9.00 9.00 9.00 9.00 9.00 9.00 11.00 12.50 12.50 Total Community Development 19.00 17.00 17.00 17.00 17.00 17.00 21.00 20.00 24.50 24.50 Public Works
Engineering Services 20.00 20.00 20.50 20.50 20.50 20.50 21.00 21.00 24.00 24.00 Transportation Services* 4.00 4.00 4.00 4.00 4.00 4.00 - - - - Public Services 79.75 79.75 77.25 76.25 75.25 72.25 71.50 71.30 77.90 77.90 Total Public Works 103.75 103.75 101.75 100.75 99.75 96.75 92.50 92.30 101.90 101.90 Public Safety
Sworn 69.00 69.00 69.00 69.00 66.00 65.00 62.00 58.00 58.00 58.00 Non-Sworn 19.00 19.00 19.00 18.00 17.00 18.00 19.50 19.50 19.50 19.50 Total Public Safety 88.00 88.00 88.00 87.00 83.00 83.00 81.50 77.50 77.50 77.50 Parks and Community Services 34.00 34.00 33.00 33.00 33.00 35.00 31.80 31.80 33.60 33.60 Economic Development/Redevelopment - - - - - - - - 1.00 4.00 Total 272.75 272.75 269.75 266.75 260.75 258.75 252.80 245.60 265.50 268.50 Source: Various City Departments
* In 2016 the Transportation Services Division was transferred from Community Development to Public Works Department. 0 50
100
150
200
250
300
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
FTE's
General Government Community Development Public Works Public Safety Parks and Community Services Economic Development/Redevelopment
10.4.a
Packet Pg. 418 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 170
City of San Ramon
Operating Indicators by Function/Program
Last Ten Fiscal Years
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Function/Program
Police
Arrests 533 567 512 538 548 532 602 508 476 458
Non-Moving Courtesy
Warning/parking violations 472 458 689 726 1,022 1,841 1,694 1,644 2,755 2,072 Moving traffic violations 1,062 3,509 5,790 5,328 4,880 6,178 6,246 8,602 6,471 7,315 Patrol Activity 69,421 76,534 74,417 64,284 65,829 78,741 72,556 59,272 70,695 73,743 Public Services
Street resurfacing (miles) * * * * * * * * * *
Potholes repaired 28 93 163 110 114 107 125 134 82 137
Light/Signal repairs 590 234 271 138 162 121 149 169 157 131 USA inspections 3,100 2,852 2,657 14,141 3,240 3,178 4,284 1,764 1,736 1560 Street light Repairs 199 134 166 128 134 158 201 295 392 403 Sign repair 108 118 173 183 173 114 242 279 116 173
Sidewalk repairs 654 1485 257 145 187 135 244 141 127 120 Graffiti abatement 123 54 49 58 54 64 67 59 47 76
Trim notices 41 40 20 80 140 95 12 128 336 362
Vehicle lube, oil, filter 63 79 126 187 147 141 15 132 141 250 Irrigation repairs 7,961 6,618 10,137 24,988 10,111 17,390 15,387 18,843 13,988 9,061 Encroachment Permits 527 459 429 338 358 413 418 400 402 312 Parks and Community Services
Swimming pool admissions 60,606 49,298 53,794 60,757 70,028 77,967 82,236 79,404 74,651 74,907 Leisure class participants 264 13,930 24,470 25,135 18,945 23,090 23,450 24,737 27,363 25,370 Library books circulated **** 290,489 445,140 635,104 586,189 470,861 464,054 688,104 717,239 752,968 790,029 Youth sport league participants ** 15 5,467 6,165 6,982 6,555 6,140 5,836 5,008 6,085 7,556 Adult sport league teams *** 61 54 81 188 151 159 173 196 468 250 Senior center drop in participants - 15,009 27,947 28,524 28,348 42,892 42,387 31,831 43,928 45,956 Community center facility rentals 44 356 788 789 774 659 513 465 412 439 Planning
Building permits 9,289 8,637 9,089 8,410 2,781 2,812 9,368 10,033 6,969 6,051 Home Occupation permits 183 134 172 159 193 191 180 201 234 221 Building applications processed 3,245 2,825 2,858 2,847 3,328 3,529 2,721 2,854 2,534 2,256 Planning applications processed 277 290 382 330 354 337 360 197 416 403 Code enforcement cases 510 213 398 520 685 495 598 580 606 671 Inspections 18,271 17,097 19,716 19,306 18,137 16,531 15,828 17,424 13,604 14,226 Source: Various City Departments
* Information was not available.
** Does not include sports camps as in previous years; sports camps are included in leisure class participants. *** Only includes PCS Adult sport league teams as of 2011-12 **** 2016 and 2017 Library books circulated decrease is due to the closure of the Main Library for renovation.
10.4.a
Packet Pg. 419 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 171
City of San Ramon
Capital Assets Statistics by Function
Last Ten Fiscal Years
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Function
Police
Stations 2
2 2 2 2 2 2 2 2 2
Patrol units 80 80 81 81 66 64 62 60 61 59
Public Services
Streets (miles) 241 241 241 241 241 235 234 222 253 249 Catch basins 4,559 4,535 4,535 4,535 4,433 4,319 4,288 4,276 4,200 4,200 Streetlights 7,000 6,995 6,995 6,995 6,971 6,857 6,833 6,818 6,900 6,900 Traffic signals 100 100 100 100 99 99 97 98 97 97
Landscape acreage 459 454 454 452 448 446 444 434 432 426 Parks 64 63 63 63 63 63 62 62 57 57
Parks acreage 375 374 374 374 372 372 365 365 427 427
Open space/trails acreage 220 220 220 220 220 220 220 210 210 210 Fountains 6
6 8 8 8 8 8 7 7 7
Pools 5 5 5 5 5 5 5 5 5 5
Vehicles 90 81 81 74 75 69 71 71 71 71
Parks and Community Services
Swimming pools 2
2 2 2 2 2 2 2 2 2
Tennis courts 26 26 26 26 26 26 26 24 24 24
Community centers
4 4 4 4 4 4 4 3 3 3
Community gymnasiums
2 2 2 2 2 2 2 2 2 2
Libraries 2 2 2 2 2 2 2 2 2 2
Historic properties
1 1 1 1 1 1 1 1 1 1
Skate parks 1 1 1 1 1 1 1 1 1 1
Theaters 2 2 2 2 2 2 2 2 2 2
Source: Various City Departments
10.4.a
Packet Pg. 420 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 172
City of San Ramon
Miscellaneous Statistical Data
Last Ten Fiscal Years
Date of Incorporation July 1, 1983
Form of Government Council/City Manager (Charter City)
Population (1/1/2021 State Finance Department) 83,863
Number of Authorized City Employees 272.75
Median Age 40.2
Median Household Income 160,783
Registered Voters 49,389
Area in Square Miles 18.56
Miles of Streets:
Lane miles 499
Center miles 239
Fire Protection:
San Ramon Valley Fire Protection District
Number of Stations 4
Police Protection:
Number of Stations 2
Number of Sworn Personnel 69
Education:
Elementary Schools 12
Middle Schools 4
High Schools 2
Community College 1
Libraries: (Contracted with Contra Costa County)
Number of Libraries 2
Number of Volumes 290,489
Recreation and Culture:
Park Sites 64
Park Acreage 375
Community Facilities:
San Ramon Community Center 2
Senior Center 1
Dougherty Valley Station Community Center 1
Performing Arts Theater 1
Hospital 1
Building Permits Issued: 9,289
Source: Various City of San Ramon Department Records
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Packet Pg. 421 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) This
page intentionally left blank.
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Packet Pg. 422 Attachment: A: City of San Ramon Annual Comprehensive Financial Report for the year ended June 30, 2021 (2022-3 : Financial Report) 1 Independent Accountant’s Report on Applying Agreed-Upon Procedures Related to the Article XIII-B Appropriations Limit Calculation
The Members of the City Council City of San Ramon, California We have performed the procedures enumerated below, on the Appropriations Limit Calculation of the City of San Ramon (City) prepared in accordance with Article XIII-B of the California Constitution for the fiscal year ended June 30, 2021. The City’s management is responsible for the Appropriations Limit Calculation.
The City has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting the City in evaluating its Appropriations Limit Calculation was performed as required by Article XIII-B of the California Constitution and we will report on findings based on the procedures performed.
This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes.
The procedures performed and our findings are as follows:
1. We obtained completed worksheets and compared the 2020-2021 limit and annual adjustment factors included in those worksheets to the limit and annual adjustment factors that were adopted by Resolution of the City Council. We also compared the population and inflation options included in the aforementioned worksheets to those that were selected by a recorded vote of City Council.
Finding: No exceptions were noted as a result of our procedures.
2. We added last year’s limit to the total adjustments and compared the resulting amount to this year’s limit.
See the accompanying Gann Appropriations Limit Schedule.
Finding: No exceptions were noted as a result of our procedures.
3. We compared the current year information presented in the accompanying Gann Appropriations Limit Schedule to the worksheet described in No. 1 above.
Finding: No exceptions were noted as result of our procedures.
4. We compared the prior year appropriations limit, presented in the accompanying Gann Appropriations Limit Schedule, to the prior year appropriations limit adopted by the City for the prior year.
Finding: No exceptions were noted as a result of our procedures.
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4040 Campbell Ave., Ste. 200 | Menlo Park, CA 94025-1053 | T 650.522.3400 | F 650.645.7393 | EOE
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Packet Pg. 423 Attachment: B: Article XIIIB Appropriations Limitation Uniform Guidelines Letter for the year ended June 30, 2021 (2022-3 : Financial Report) 2 We were engaged by the City to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to and did not conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the City’s Appropriation Limit Calculation.
Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.
We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.
No procedures have been performed with respect to the determination of the appropriation limit for the base year, as defined by Article XIII-B of the California Constitution.
This report is intended solely for the information and use of the City Council and management of the City and is not intended to be and should not be used by anyone other than those specified parties.
Menlo Park, California
December 30, 2021
10.4.b
Packet Pg. 424 Attachment: B: Article XIIIB Appropriations Limitation Uniform Guidelines Letter for the year ended June 30, 2021 (2022-3 : Financial Report)
CITY COUNCIL STAFF REPORT
DATE: January 11, 2022
TO: City Council/City Manager
FROM: Christina Franco, City Clerk
By: Christina Franco, City Clerk
SUBJECT: RESOLUTION NO. 2022-009 - Approving the 2022 City Council Liaison Appointments to the City Committees, City Foundations, City Liaisons, Council Committees, Regional Committees, Other Agencies, and Ex-Officio Assignments
RESOLUTION NO. 2022-010 - Approving the 2022 City Council Appointments to the Central Contra Costa Transit Authority RESOLUTION NO. 2022-011 - Approving the 2022 City Council Appointments to the Southwest Area Transportation Committee RESOLUTION NO. 2022-012 - Approving the 2022 City Council Appointments to the Tri-Valley Transportation Council
RECOMMENDED ACTION
Staff recommends that the City Council review the 2022 City Council Liaison Appointments and adopt these Resolutions.
BACKGROUND/DISCUSSION
The Mayor, with consent of the City Council, shall make annual City Council liaison appointments to: City Committees, City Foundations, City Liaisons, Council Committees, Regional Committees, Other Agencies, and Ex-Officio Assignments. Adoption of this Resolution will confirm the Councilmember’s liaison assignments for 2022. Separate City Council resolutions are required for appointments to the Central Contra Costa Transit Authority (CCCTA), Southwest Area Transportation Committee (SWAT), and the Tri-Valley Transportation Council (TVTC).
FISCAL ANALYSIS
There are no fiscal impacts.
10.5 Packet Pg. 425
RESOLUTION NO. 2022-009
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAMON APPROVING THE 2022 CITY COUNCIL LIAISON APPOINTMENTS TO THE CITY
COMMITTEES, CITY FOUNDATIONS, CITY LIAISONS, COUNCIL COMMITTEES,
REGIONAL COMMITTEES, OTHER AGENCIES, AND EX-OFFICIO ASSIGNMENTS WHEREAS, each year City Councilmembers are appointed to serve as liaisons for a one year term to the Approving the 2022 City Council Liaison Appointments to the City Committees, City Foundations, City Liaisons, Council Committees, Regional Committees, Other Agencies, and Ex-Officio Assignments; and
WHEREAS, on January 11, 2022 Mayor Hudson made the liaison appointments; and WHEREAS, at that time, the Councilmembers accepted their appointments.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Ramon does hereby formally approve the 2022 City Council Liaison Appointments provided in Exhibit 1 of this Resolution.
PASSED, APPROVED AND ADOPTED on January 11, 2022 following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
_____________________
David E. Hudson, Mayor
ATTEST:
________________________
Christina Franco, City Clerk
Exhibit 1: 2022 City Council Liaison Appointments
10.5 Packet Pg. 426
2022 CITY COUNCIL LIAISON APPOINTMENTS
CITY COMMITTEES
Arts Advisory Committee...............................................................................Zafar/Verose Economic Development Advisory Committee .............................................Zafar/Perkins Housing Advisory Committee .......................................................................Hudson/Zafar Innovation and Technology Advisory Committee…………………………………. Zafar/Hudson Library Advisory Committee..........................................................................Perkins/Armstrong Open Space Advisory Committee.................................................................Perkins/Verose Senior Citizen Advisory Committee..............................................................Armstrong/Hudson Teen Council..................................................................................................Zafar/Armstrong Transportation Advisory Committee ............................................................Hudson/Verose
CITY FOUNDATIONS
Arts Foundation.............................................................................................Zafar Historic Foundation.......................................................................................Verose Library Foundation........................................................................................Perkins Senior Foundation.........................................................................................Armstrong
CITY LIAISONS
City of Dublin .................................................................................................Hudson City of Livermore ...........................................................................................Hudson City of Pleasanton .........................................................................................Hudson Town of Danville............................................................................................Hudson
COUNCIL COMMITTEES
Finance Committee **.................................................................................Verose/Zafar Policy Committee **.....................................................................................Perkins/Armstrong Infrastructure Committee** …………………………………………………………......Armstrong/Perkins
REGIONAL COMMITTEES
Association of Bay Area Governments (ABAG) *.........................................Hudson/Zafar Central Contra Costa Transit Authority (CCCTA) * ......................................Hudson Community Emergency Response Team (CERT) * .....................................Perkins/Zafar East Bay Regional Parks District * ..............................................................Perkins/Verose Iron Horse Trail Advisory Committee * ........................................................Zafar/Hudson League of California Cities (LOCC) - East Bay Division ..............................All Southwest Area Transportation Committee (SWAT) *................................Hudson/Verose Street Smarts *.............................................................................................Hudson/Zafar TRAFFIX..........................................................................................................Hudson/Zafar
10.5 Packet Pg. 427
Tri-Valley Transportation Council (TVTC)* ...................................................Perkins/Verose Tri-Valley Affordable Housing Committee *.................................................Hudson/Armstrong Tri-Valley San Joaquin Regional Rail Authority1…………………………………….Hudson Tri-Valley Water Liaison Committee .............................................................Zafar Valley Link………………………………………………………………………………………….Hudson
OTHER AGENCIES
Central Contra Costa Sanitary District (CCCSD)..........................................Hudson/Verose Dougherty Valley Oversight Committee (DVOC) **.....................................Hudson/Zafar Dublin San Ramon Services District (DSRSD) ............................................Hudson/Armstrong East Bay Municipal Utility District (EBMUD) & Water Issues......................Zafar/Verose East Bay Regional Communications Systems Authority (EBRCSA)2 ..........Perkins/Armstrong Marin Clean Energy ………………………………………………………………………… ..Perkins/Armstrong San Ramon Valley Fire Protection District (SRVFPD) .................................Perkins/Verose San Ramon Valley Emergency Preparedness Citizen Corps Council……..Armstrong/Hudson San Ramon Valley Unified School District (SRVUSD) .................................Verose/Perkins
EX OFFICIO ASSIGNMENTS
Mayors’ Conference (Mayor & Vice Mayor) * .............................................Hudson/Vice Mayor Supervisor Andersen’s Liaison (Mayor & Vice Mayor) * ............................Hudson/Vice Mayor Chamber of Commerce (Mayor & City Manager)........................................Hudson/Gorton Corporate (Mayor).........................................................................................Hudson NOTE:
Where marked with *, person named first will be the Representative, the second will be the Alternate.
Where marked with **, both must attend for a quorum.
1 The appointment for Tri-Valley San Joaquin Regional Rail Authority is made by Contra Costa Transit Authority (CCTA).
2 The appointment for East Bay Regional Communications Systems Authority (EBRCSA) is made by the Mayor’s Conference.
10.5 Packet Pg. 428
RESOLUTION NO. 2022-010
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAMON APPROVING THE 2022 CITY COUNCIL APPOINTMENTS
TO THE CENTRAL CONTRA COSTA TRANSIT AUTHORITY
WHEREAS, each year City Councilmembers are appointed to serve as liaisons for a one year term to the City Committees, Council Committees, Other Agencies, and Area Wide and State Wide Committees; and
WHEREAS, on January 11, 2022, Mayor Hudson was appointed to represent San Ramon on the Central Contra Costa Transit Authority (CCCTA); and WHEREAS, at that time, Mayor Hudson accepted the appointment.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Ramon does hereby formally approve the appointment of Mayor Hudson to the Central Contra Costa Transit Authority.
PASSED, APPROVED AND ADOPTED on January 11, 2022 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
_____________________
David E. Hudson, Mayor
ATTEST:
____________________________
Christina Franco, City Clerk
10.5 Packet Pg. 429
RESOLUTION NO. 2022-011
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAMON APPROVING THE 2022 CITY COUNCIL APPOINTMENTS
TO THE SOUTHWEST AREA TRANSPORTATION COMMITTEE
WHEREAS, each year City Councilmembers are appointed to serve as liaisons for a one year term to the City Committees, Council Committees, Other Agencies, and Area Wide and State Wide Committees; and
WHEREAS, on January 11, 2022, Mayor Hudson was appointed as the primary and Councilmember Verose as the alternate to represent San Ramon on the Southwest Area Transportation Committee, and
WHEREAS, at that time, Mayor Hudson and Councilmember Verose accepted the appointments.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Ramon does hereby formally approve the appointments of Mayor Hudson and Councilmember Verose to the Southwest Area Transportation Committee.
PASSED, APPROVED AND ADOPTED on January 11, 2022 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
_____________________
David E. Hudson, Mayor
ATTEST:
____________________________
Christina Franco, City Clerk
10.5 Packet Pg. 430
RESOLUTION NO. 2022-012
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAMON APPROVING THE 2022 CITY COUNCIL APPOINTMENT
TO THE TRI-VALLEY TRANSPORTATION COUNCIL
WHEREAS, each year City Councilmembers are appointed to serve as liaisons for a one year term to the City Committees, Council Committees, Other Agencies, and Area Wide and State Wide Committees; and
WHEREAS, on January 11, 2022, Councilmember Perkins was appointed as the primary and Councilmember Verose as the alternate to represent San Ramon on the Tri-Valley Transportation Council; and
WHEREAS, at that time, Councilmembers Perkins and Verose accepted the appointment.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Ramon does hereby formally approve the appointment of Councilmembers Perkins and Verose to the Tri-Valley Transportation Council.
PASSED, APPROVED AND ADOPTED on January 11, 2022 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
_____________________
David E. Hudson
ATTEST:
____________________________
Christina Franco, City Clerk
10.5 Packet Pg. 431