Sanger City Council
February 20, 2025

Item G.1: Zoning Ordinance Map Amendment 2024-04
Sanger Crossing Apartments
February 20, 2025
City Of Sanger – Community Development Department

RECOMMENDATION
City Council waive the full reading and introduce Ordinance No. 2025-02, amending the City of Sanger Zoning Map, to change the zoning of real property located near the intersection of Cherry Avenue and J Street, APNs: 325-090-58 and 325-090-61, from the R-1-6 district to the RM-2.5 district consistent with the General Plan designations for the properties.
2/20/20252
City Of Sanger Community Development Department
Summary & Background
Property Profile:
• Sanger Crossing Apartments – 1620 J
Street
• APNs 325-090-61 & 325-090-58
• Current Zone District:
• RM-2.5 (majority) & R-1-6 (subject
properties)
• Current General Plan Land Use:
• Medium Density Residential
• Current Use:
• Apartments & Vacant
2/20/20253
Subject Properties
City Of Sanger Community Development Department
Summary & Background
Property Profile:
• SPR 2012-05 approved in May 2013
• Parcel Map 2014-02 approved April
2014
• Applicant has applied for SPR 2012-05
amendment, however zoning is
inconsistent
2/20/20254
Subject Properties
City Of Sanger – Community Development Department
Project Proposal
2/20/20255
Zoning Ordinance Map
Amendment 2024-04:
• Correct zoning
inconsistency allowing
for SPR 2012-05
amendment
• R-1-6 (Single Family) to
RM-2.5 (Multi-Family)
RM-2.5
RM-2.5
ProposedExisting
City Of Sanger – Community Development Department

REASON FOR RECOMEMNDATION
2/20/20256
Corrects zoning inconsistency which allows full use of property and future expansion, in this case a park to serve the Sanger Crossing Residents.

City of Sanger 2/20/20257
Item G.2: General Plan Amendment 2024-02/Zoning Ordinance Map Amendment 2024-06
1719 7th Street, 706 De Witt Ave, 701 West Ave, and 707 West Ave February 20, 2025
City of Sanger – Community Development Department

RECOMMENDATION

1. Adopt Resolution No. 2025-14, redesignating the General Plan land use of real property located at 17I9 7th St, 706 De Witt Ave, 701 West Ave, and 707 West Ave from Commercial-Office to Commercial-Central and adopt an exemption per CEQA Guidelines 15061(b)(3); and

2. Waive the full reading and introduce by title only, Ordinance No. 2025-03, adopting Zoning Ordinance Map Amendment No. 2024-06, rezoning from the “C-P" (Administrative and Professional Office) District to “C-3" (Central Commercial) District, for real property located at 17I9 7th St, 706 De Witt Ave, 701 West Ave, and 707 West Ave
2/20/20259
City of Sanger Community Development Department
Summary & Background
Property Profile:
• Subject Properties generally bound by
De Witt Ave, 7th St, and West Ave
• APNs 317-096-01, -02, -13, and -14.
• Current Zone District:
• C-P,Administrative and Professional Office
• Current General Plan Land Use:
• Commercial-Office
• Current Uses:
• Commercial tenant spaces, vacant, and
existing Single Family Dwelling
2/20/202510
Existing Zoning Existing Land Use
City of Sanger Community Development Department
Project Proposal
• General Plan Amendment 2024-02
• Land Use Designation change from
Commercial-Office to Commercial-Central
• Consistent with the C-3, Central
Commercial, zone district
• Zoning Ordinance Amendment 2024-06
• Rezone from C-P, Administrative and
Professional Office, to C-3, Central
Commercial
• C-3 provides for nearly all uses within C-P,
with addition of more retail and service
• City proposes to include 707 West Ave
for consistency
2/20/202511
Proposed Zoning Proposed Land Use
C-3

City of Sanger – Community Development Department

REASON FOR RECOMEMNDATION
2/20/202512
• Seeks to “… provide more mixed-use opportunities in the downtown business district” and “current zoning limits future business opportunities”
• Will not create any non-conforming uses
• Accessibility, location to public facilities, and architecture/site design are comparable to downtown
• Supports the 2035 General Plan Goals for the Downtown • “… establishing a Downtown that is inviting, prosperous, friendly, clean, safe, and aesthetically pleasing”
• “Maintain downtown as the government, civic, and retail/office center for the City”
• “Identify and promote Downtown as the entertainment, cultural, and community activity center of Sanger”
City of Sanger 2/20/202513
Summary of Audit Results
June 30, 2022
City of Sanger
1 Auditor & Management Responsibilities
2  Management is responsible for the preparation and presentation of the financial statements

 Purpose of an audit is to provide financial statement users with an independent opinion on whether the financial statements are presented fairly, in all material respects, and in accordance with applicable accounting standards (GAAP)
Audit Timeline & Process
3  August 2022 - Audit Interim Fieldwork
 Planning – risk assessment, review of Council minutes, management inquiry
 Documentation of financial processes and testing of internal controls  Cash Receipts
 Disbursements
 Payroll
 Journal entries, bank reconciliations, financial reporting Audit Timeline & Process
4  January 2023 – Year-end audit fieldwork initially scheduled  Requested audit items were not prepared by due date
 June 2023 – Year-end audit rescheduled
 Requested audit items (partial) were submitted past due date  Preliminary review of trial balance and submitted audit schedules identified issues
 MUN attempted to perform fieldwork with items provided; however numerous significant issues and open items identified
 July 2023 – December 2023
 City / MUN continued to work through open items
Audit Timeline & Process
5  January /February 2024 – City informed MUN that substantial work was being performed to resolve issues
 April 2024 – A new trial balance was provided to MUN to be audited  Audit work was performed; however, significant issues were again identified
 August 2024 – A new trial balance was provided to MUN to be audited Audit Timeline & Process
6  September – December 2024 - Audit Year-End Fieldwork  Testing of Final Year-End Balances and Activity
 Confirmation of balances
 Cut-off testing – receivables and payables
 Detail tests of transactions
 Analytical review
 Single Audit – Audit of Federal grant expenditures in accordance with the Uniform Guidance
 Preparation of financial statements and footnotes
Audit Reporting
7  Reporting Results of the Audit
 Audit Opinion - Independent Auditor’s Report
 Government Auditing Standards (GAS) Report
 Uniform Guidance (Single Audit) Report
 Management Letter
 Audit Conclusion Letter to those Charged with Governance Audit Results – Financial Statements
8  Independent Auditor’s Report
 Types of opinions: Unmodified, qualified, adverse, and disclaimer  June 30, 2022: Unmodified (“Clean”) Audit Opinion
 No material misstatements
 Financial statements are presented in accordance with GAAP  Management’s Discussion and Analysis omitted
Audit Reporting – Government Auditing
Standards
9  Types of Findings: Material Weakness, Significant Deficiency, & Compliance  3 Material Weaknesses
 2022-001: Financial Close
 2022-002: Cash & Investments
 2022-003: Long-term Liabilities
 1 Significant Deficiency
 2022-004: Grant Accounting & Reconciliation
 2 Compliance Exceptions
 2022-005: Successor Agency Compliance
 2022-006: Federal Reporting Timeliness
Audit Reporting – Single Audit
10  Uniform Guidance (Federal Single Audit) Report
 Required when an entity expends more than $750,000 in Federal grant funds
 Major Program Tested:
 Transportation Equity Act
 Unmodified (“clean”) audit opinion on the major program  No findings in relation to internal controls over compliance  Compliance Finding 2022-06: Federal Reporting Timeliness Audit Reporting – Management Letter
11  Management letter reports control deficiencies or recommendations for improvement
 Stale dated checks*
 Indirect costs*
 Capital asset inventory
 Financial reporting to Council
 Credit cards
 Accounts receivable accrual
*Repeat finding from FY 2021
Audit Reporting – Conclusion Letter
12  Communication with Those Charged with Governance
 New Accounting Policies
 GASB 87, Leases
 No significant impact to City’s financial statements
 Significant Changes in Disclosures
 None
 Accounting Estimates
 Allowance for uncollectible receivables
 Depreciation
 Claims liability
 Pension liability
Audit Reporting – Conclusion Letter
13  Difficulties Encountered in Performing the Audit
 Significant delays in obtaining a reconciled trial balance with accurate supporting schedules
 Disagreements with Management
 None
 Other Matters
 Reference to material weaknesses & significant deficiency  Audit Adjustments
 Attachment B provides summary of adjustments to final trial balance
 However, during the course of the audit, numerous adjustments were proposed to the City; resulting in assistance in revised schedules and trial balance
Summary of Audit Results
14  Reporting Results of the Audit
 Unmodified (“Clean”) opinion on financial statements
 Unmodified opinion on major program for Single Audit, 1 compliance exception
 3 material weaknesses, 1 significant deficiency, 2 compliance exceptions
 6 recommendations for improvement
 Significant delays in the completion of the audit
Thank you
Justin Williams, CPA
MUN CPAs, LLP
1760 Creekside Oaks Drive #160
Sacramento, California 95833
(916) 929-0540
[email protected]

CITY OF SANGER

CALIFORNIA

ANNUAL FINANCIAL REPORT

WTH INDEPENDENT AUDITORS' REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
MUN CPAs, LLP
1760 Creekside Oaks Drive, Suite 160
Sacramento, California 95833

CITY OF SANGER

ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2022

TABLE OF CONTENTS
INTRODUCTORY SECTION:

Elected Officials and Executive Staff
FINANCIAL SECTION:
lndependent Auditor's Report on Basic Financial Statements Basic Financial Statements:

Government-wide Financial Statements
Statement of Net Position
Statement of Activities
Fund Financial Statements
Balance Sheet - Governmental Funds
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position
Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances to the Statenrerrt ulAcl.ivities - Guvettttttcttlai Funcis Statement of Net Position - Proprietary Funds
Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds Statement of Cash Flows - Proprietary Funds
Statement of Fiduciary Net Position - Fiduciary Funds
Statement of Changes in Fiduciary Net Position - Fiduciary Funds Notes to Basic Financial Statements
Required Supplemental lnformation
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - Measure S Sales Tax
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - State Grants Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - Sanger Financing Authority
Notes to Required Supplemental lnformation
Schedule of the City's Proportionate Share of the Net Pension Liability Paoe
't -3
4 6-7
9-10
11 12
13 14-15
16 17
18-52
56 57
58 5
E
53 54
55 CITY OF SANGER

ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2022

TABLE OF CONTENTS
Required Supplemental lnformation {Continued)
Schedule of Pension Contributions
Combining Financial Schedules and Other Supplemental Information Non-Major Governmental Funds:

Description of Non-major Funds
Combining Balance Sheets
Combining Schedules of Revenues, Expenditures and Changes in Fund Balances Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
State Gas Tax
Landscape and Lighting
Measure C EXT - Pedestrian
MeasureCEXT-Bicycle
MeasureCEXT-ADA
MeasureCEXT-Street
MeasureCEXT-Flexible
Transportation & Street Maintenance
Developer Fees
Asset Forfeiture
JFK Park LWFC Grant
Local Public Safety
Air Quality Project Funds
Community Development Block Grant
EDA Grant
ARPA Fund
Federal Grants
Transportation Equity Act 21
Private Grants
Supplemental Law Enforcement Grant
Community Facilities District
Sanger Housing Authority
State Homeland Security Grant
Page
59 60-61
62-66
67 -71
72 73
74 75
76 77
78 79
80 81
82 83
84 85
86 87
88 89
90 91
92 93
94 CITY OF SANGER

ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2022

TABLE OF CONTENTS
Gombining Financial Schedules and Other Supplemental lnformation (Continued) Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual (Continued)
CaI OES
CaIHOME Grant
SWRCB
lnternal Service Funds
Description of lnternal Service Funds
Combining Schedule of Net Position
Combining Schedule of Revenues, Expenses, and Changes in Net Position Combining Schedule of Cash Flows
Page
95 96
97 98
99 100
101

INTRODUCTORY SECTION

CITY OF SANGER

ELECTED OFFICIALS
AND

EXECUTIVE STAFF
JUNE 30, 2022

ELECTED OFFICIALS
Mayor At-Large
Council Member
Council Member
Council Member
Council Member
City Manager
City Clerk
Assistant City Manager
Public Works Director
City Engineer
Police Chief
Fire Chief
City Attorney

EXECUTIVE MANAGEMENT TEAM
Frank Gonzalez
Esmeralda Hurtado
Dolores Melendez
Daniel Martinez
Michael Montelongo
Nathan Olson
Corina Tamez
Michelle Speer
Esperanza Rosales
Josh Rogers
Greg Garner
Greg Tarascou
Hilda Montoy
This listing has been created for the purpose of this annual finanoial report and as a reference of the structure at the time of production.

FINANCIAL SECTION
M.U.N

INDEPENDENT AUDITOR'S REPORT
To the City Council of
the City of Sanger
Sanger, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business{ype activities, each major fund, and the aggregate remaining fund information of the City of Sanger (the "City") as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the City's basic financial statements as listed in the table of contents. ln our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Sanger, as of June 30, 2022, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principies generally accepted in the United States of America.

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

Responsrbilifie s of Management for the Financial Sfatemenfs Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and forthe design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. ln preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information thal may raise substantial doubt shortly thereafter.

Auditor's Responsibilifies for the Audit of the Financial Stafemenfs Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions.

Reasonable assurance is a high level of assurance, but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Govemment Auditing Sfandards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

MUN CPAs, LLP | 1260 Creekside Ooks Drive, Suite 160, Socromento, CA 95833 I ***.run.pos.com GLENDALE . ROSEVILLE . SACRAMENTO . ZEPHYR COVE . KAUAI a
a
ln performing an audit in accordance with generally accepted auditing standards and Government Auditing Slandards, we:

Exercise professional judgment and maintain professional skepticism throughout the audit. ldentify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, no such opinion is expressed.

Evaluale the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for a reasonable period of time.

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

Required Supplementary lnformation
Accounting principles generally accepted in the United States of America require that the budgetary comparison information and the pension related schedules as listed in the table of contents be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers itto be an essential partof financial reporting forplacing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Management has omitted the management's discussion and analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by this missing information.

S u p p le m e nta ry I nfo rm ati o n
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City of Sanger's basic financial statements. The combining and individual nonmajor fund financial statements, budgetary comparison schedules, and combining internal service funds financial statements are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. ln our opinion, the combining and individual nonmajor fund financial statements and budgetary comparison schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole. a
a
Other Reporting Required by GovemmentAuditing Standards ln accordance wilh Government Auditing Standards, we have also issued our report dated February 4,2025, on our consideration of the City of Sanger's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance.

That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering City of Sange/s internal control over financial reporting and compliance.

AUri &,Ut-?
Sacramento, California
February 4,2025

CITY OF SANGER

STATEMENT OF NET POSITION
JUNE 30, 2022
Governmental
Activities
Business-Type
Activities Tolal
ASSETS
Cash and investments (Note 2)
Accounts receivables, net of allowance
lnterest receivable
Land held for development
lnventory
Loans receivable (Note 3)
Restricted assets:

Restricted Cash and investments (Note 2)
Cash and investments with liscal agents (Note 2)
Capital assets (Note 5)
Land and construction in progress
Other capital assets, net of depreciation
Total capital assets
Total Assets

DEFERRED OUTFLOWS OF RESOURCES
Deferred loss on refunding
Changes in the net pension liability (Note 9)
Total Deferred Outflows of Resources

LIABILITIES
Accounts payable
Accrued payroll and benefits
Retention payable
Accrued interest payable
Unearned revenue
Deposits payable
Net pension liability (Note 9):

Due in more than one year
Accrued compensated absences (Note 6)
Due within one year
Due in more than one year
Claims Payable (Note 7):

Due within one year
Due in more than one year
Long-term liabilities (Note 6):

Due within one year
Due in more than one year
Total Liabilities

DEFERRED INFLOWS OF RESOURCES
Changes in the net pension liability (Note 9)

NET POSITION
Net investment in capital assets
Restricted for:

Debt service
Capital projects
Public safety
Community services
Affordable housing
Unrestricted
Total Net Position

48.260.497 26.921.623 1A2.120

84.522.484 49.521.384 134.043,868
,277
,480
9,129
3,460
$ 19,638,065 $
5,'136,812
1 6,1 34
712,000
4,61 1
2,043,077
248,402
8,462,886
1,473,278

46.787.219

10.004
1,927 ,777
24,993,846
38,767,342
8,597,292
16,134
712,000
4,611
2,043,O77
248,402
8,472,890
3,401,055

71.781.065
$

19.235.184
176,928

5.199.056
176,928

24.434.240

19.235.184 5.375.984 611.168
$ 1,284,959 $
397,923
1 1,765
322,000
'l,791 ,676
235,330
8,345,526
261,931
503,863
92,355
379,327
1,060,233

24.918.910
1,340,794 $
37,468
41,',t14
17,786
254,846
44,209
1,192
1 ,101 ,394
2,625,753
435,391
1 1,765
363,1 14
1,809,462
490,1 76
306,140
505,055
92,355
379,327
2,161,627

50.346.788
4,438,675 12,784,201

25.427.878

39.605.798 32.705.356 72.31't.',t54

7.332,471 3,899,870 11.232.341
38,386,082 3,836,529
10,004
42,222,611
8,338,992
8,608,114
1,689,988
321,008
2,O79,132
(2.603.9'17) 14.445.609
$ 56.819.399 S 18.292.142 $ 75.111.541: :
8,348,996
8,608,114
1,689,988
321,008
2,O79,132
11 .841.692
See accompanying notes to the basic financial statements. 4 CITY OF SANGER

STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2022
Procmm Revenues Nel (ExDensel Revenue and Chanoe in Net Position Primaru Government
Functions/Programs

PRIMARY GOVERNMENT
Govemmental activities:

City Council
Community services
Administrative services
Police departmenl
Fire and emergency services
Development services
Public uorks
Nondepartmental
lnterest and fiscal charges
Total governmental activities
Business-type activities:

Water
Seurer
Disposal
Total business-type activities
Total primary government
$
ErDenses
263,360 $
718,536
849,678
8,331,578
6,274,983
1,765,493
5,773,984
98,326
1 005 980
(263,360) $
(511,5e4
(849,678)
(7,293,821)
(4,206,72't)
(1,054,353)
(3,249,340)
511,786
/1 0n5 qRnl
7,711,164 $
9,31 8,195
580,219
5,934
1,731,176
144,293
28,280
(849,678)
(7,293,821)
(4,206,721)
(1,054,353)
(3,245,34O)
51 1,786
_9.499.e80)t17 Atan6,l\
Charges lor
Services
't27,%6
284,708
1,929,&8
418,379
397,n1
3 157 882
3,',t72,332
5,263,429
31't't 616
'll E 7 a'77
$ 14.705.259'-
Operating
Grants and
Contributions
78,973
713,647
121,228
292,761
1,259,261
610,112
3 075 982
39 578
3q 574
s 3.1 15.s50 $
Capital
Grants and
Contributions
Governmental
Activities
Business-Type
Activities
(693,711)
(546,520)
,t?? ?46
(1 106.885)
$-grqEgg
(35,153)
Total Primary
Government
(263,360)
(511,597)
$$ $ $
39,402
17,406
868,182
25 n8l qlR
3,866,043
5,809,949
3 n17 n4R
1) AOa AAn
$ 37 77575A
924 9SO (7.923.064)
q24 qqo s (17 923 064)
(693,711)
(546,520)
111 146
/1 lnA RR4l
s /19 029 9491
General revenues:

Property taxes
Sales and use taxes
Franchise taxes
Transient occupancy taxes
Utility users taxes
Business license tax
lnvestment income (loss)
Fees and other revenue
Total general revenues
Change in net position
Net position - Juty 1 ,2021
Prior period restatement (:{ote 12)
Net position - July 1, 2021, restated
Net position - June30,2022
See accompanying notes to the basic financial statements 5 335.907 190.330 _526.23719.855.168 _155,M- 20.010.345

1.932.'tO4 /q51 7r}R\ qnn 3q6
54,244,695 19,243,850 73,488,545
F,42 6rl.l 642 600

54.A87.295 1q 241 nsn 74 141 lAA
$ $ 7 ,711,164
9,318,195
580,219
5,934
1 ,731,176
14/.,293
(6,873)
$ 56.819.399 $ 18.292.142
-
$ 75 111.541

CITY OF SANGER

BALANCE SHEET

GOVERNMENTAL FUNDS
JUNE 30, 2022
General
Fund
Measure S
District
Sales Tax
State Grants
Fund
ASSETS
Cash and investments
Cash with fiscal agent
Restricted cash and investments
Accounts receivable, net
lnterest receivable
Loans receivable
Due from other funds
Land held for development
Total Assets
LIABILITIES. DEFERRED INFLOWS OF
RESOURCES. AND FUND BALANCES (DEFICITSI

LIABILITIES
Accounts payable
Accrued payroll and benefits
Retention payable
Due to other funds
Deposits and other payables
Unearned revenues
Total Liabilities

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues
FUND BALANCES (DEF|CITS)
Nonspendable
Restricted
Committed
Unassigned
Total Fund Balances (Deficits)
Total Liabilities, Deferred lnflows of Resources, and
Fund Balances (Deficits)
$ 5,315,146 $ 2,210,361 $
1,893,315
2,920,985
$ 9.515.476 S 2.884.313 $ 1.893.315
---
$
248,402
1,022,909
8,034
671,680
2,272
564,146 $
263,014
73,725 $
60,633
13,065
3,642
1,876,608
235,330
't.062.490 134.358 1.893 315

1.893.315
235,330
3,409,965

4.807.691
2,749,955
(1.893.315)

8.452,986 2.749.955 (1.893.315)
$ 9.515.476 $ 2.884.313 $ 1.893.315
-
See accompanying notes to the basic financial statements. 6 CIryOF SANGER
BALANCE SH EET (continued)

GOVERNMENTAL FUNDS
JUNE 30, 2022
Sanger
Financing
Authority
Other
Governmental
Funds
Total
Governmental
Funds
ASSETS
Cash and investments
Cash with fiscal agent
Restricted cash and investments
Accounts receivable, net
lnterest receivable
Loans receivable
Due from other funds
Land held for development
Total Assets
LIABILITIES. DEFERRED INFLOWS OF
RESOURCES. AND FUND BALANCES (DEFICITS)

LIABILITIES
Accounts payable
Accrued payroll and benefits
Retention payable
Drre to other frrnds
Ueposits and other payables
Unearned revenues
Total Liabilities

DEFERRED INFLOWS OF RESOURCES
Unavailable r6v€nue6

FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Unassigned
Total Fund Balances (Deficits)
Total Liabilities, Deferred lnflows of Resources, and
Fund Balances (Defi cits)
$ 8.462.886 $ 16.025.384 $ 38.78't.374
-- -
$
8,462,886
$ 11,716,281
1 ,548,1 98
5,828
2,043,077
712,000
$ 19,241,788
8,462,886
248,402
5,1 36,1 02
1 6,1 34
2,043,077
2,920,985
712.000
$ $ 458,427 $
40,938
11,765
920,483
1 ,1 09,363
368,227
11,765
2,920,985
235,330

1.791.676
123,894
123.854
1,791,676

3.223.285 6.437.346
3,111,553 5,004,868
8,338,992
(969.745)

8.338.992 9.6S0.542 27.339.160
$ 8.462.886 $ 16.025.384 S 38.781.374
-
712,000
9,948,287
712,000
21,272,564
3,409,965

1.944,631
See accompanying notes to the basic financial statements. 7 CITY OF SANGER

RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS

TO THE STATEMENT OF NET POSITION
JUNE 30, 2022
Total fund balances of governmental funds
Amounts reported for governmental activities in the Statement of Net Position are different because:

Capital assets used in governmental activities are not financial resources and therefore are not reported in governmental funds, net of accumulated depreciation of $70,571,725.

Deferred outflows of resources related to changes in the net pension liability are not applicable to the current period.

Long-term liabilities are not due in the current period and, therefore are not reported in the governmental funds.

Long-term liabilities, net of premiums and discounts
Compensated absences
Net pension liability
Deferred inflows of resources related to changes in the net pension liability are not applicable to the current period.

Certain notes, loans, and interest receivables are not available to pay for current period expenditures and therefore are offset by deferred inflows of resources in the governmental funds
Accrued interest payable from the current portion of interest due on long-term liabilities has not been reported in the governmental funds.

Long-term assets are not available to pay for current period expenditures and, therefore, are reported as unavailable revenue in the fund financial statements. lnternal service funds are used by management to charge costs of certain activities such as equipment replacement, to individual funds. The assets and liabilities of the internal service funds are included in the governmental activities of the Statement of Net Position.

Net position of governmental activities
See accompanying notes to the basic financial statements 8 $ 27,339,160
48,260,497
19,235,184
(25,979,143)
(765,794)
(8,345,526)
(7,332,471)
2,043,077
(322,000)
2,961,791
(275.376\
$ 56.819.399'-

CITY OF SANGER

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES

GOVERNMENTAL FUNDS
JUNE 30, 2022
General Fund
Measure S
District
Sales Tax
State Grants
Fund

REVENUES
Taxes
License and permits
lntergovernmental
Fines and forfeitures
lnvestment income (loss)
Charges for services
Other revenues
Total Revenues

EXPENDITURES
Current:

City Council
ftullill ilsu duvc sEt vtucs
Community services
Police department
Fire and emergency services
Development services
Puhlic works
Nondepartmental
Capital outlay
Debt service:

Principal
lnterest and fiscal charges
Proceeds from bond issuance
Transfers in
Transfers out
$ 12,570,756 $
229,756
156,024
284,722
(4,855)
2,323,500
321,457
3,449,794 $
(760)
56,262

15.881 .360 3.449.034 56.262
533,399
5,718,562
4,460,402
1,142,773
1,343,341
81,49'l
140,559
263,360
173,999
545,524
1,442,685
849,794
647,053
50,501

29.617

3.019.650
1 10,523
80,982
66,850
258.355Total Expenditures 14.403.410
Excess (Deficiency) of Revenues over Expenditures 1.477.950

OTHER FINANCING SOURCES (USES)
429,384 (202.093)
100,295
80,621
(55.336)
Total Other Financing Sources (Uses)
Net Change in Fund Balances
125,580
1,603,530

6.849.456
429,384

2.320.571
(202,0e3)
(.691,222\Fund Balances (Deficits) - July 1,2021
Fund Balances (Deficits) - June 30,2022 s 8.452.386 $ 2,749,955 $ (1 .893.315)'-' See accompanying notes to the basic financial statements.

I
CIry OF SANGER
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES lN FUND BALANCES (continued)

GOVERNMENTAL FUNDS
JUNE 30, 2022
Sanger
Financing
Authority
Other
Governmental
Funds
Total
Governmental
Funds

REVENUES
Taxes
License and permits
lntergovernmental
Fines and forfeitures
lnvestment income (loss)
Charges for services
Other revenues
Total Revenues

EXPENDITURES
Current:

City Council
Administrative services
Community services
Police department
Fire and emergency services
Development services
Public works
Nondepartmental
Capital outlay
Debt service:

Principal
lnterest and fiscal charges
Proceeds from bond issuance
Transfers in
Transfers out
$ $ 3,470,431
5,551,465
$ 19,490,981
229,756
5,763,751
284,722
15,425
2,643,404
469.372
8,953 12,087
319,904
147.915

8.953 9.501.802 2A .411
15,749,728
1,255,000
402.335
106,764
56,694
637,237
474,770
525,503
1,337,947
4,458,047

17.157
263,360
15,856,492
590,093
7,909,007
5,784,966
1,749,258
2,681,288
81,491
5,312,509
1,479,500
994.533
Total Expenditures 17,407,063 7,614.119 42.702.597
Excess (Deficiency) of Revenues over Expenditures ('t 7.398.'t 't 0) 1.887.683 t.t" '186'|

OTHER FINANCING SOURCES (USES)
17,427,433
131,330
(156.615)
17,527,728
211,951
Q11.951\
Total Other Financing Sources (Uses)
Net Change in Fund Balances

17.427.433 e5.285\ 17.527.728
29,323
8,309,669
1,862,398

7.828.144
3,722,542

23.6'16.618Fund Balances (Deficits) - July 1,2021
Fund Balances (Deficits) - June 30,2022 $ 8,338,992 $ 9.690,542 $ 27.339.160:

See accompanying notes to the basic financial statements. 10 CITY OF SANGER

RECONCILIATION OF THE

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES

TO THE STATEMENT OF ACTIVITIES - GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2022
Reconciliation of the change in fund balances - total governmental funds to the change in net position of governmental activities:

Net change in fund balances - total governmental funds
Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of those assets are capitalized and allocated over their estimated useful lives and reported as depreciation expense.

Capital asset purchases
Depreciation expense
Some revenues reported in the Statement of Activities will not be collected for several months after the City's year-end and do not provide current financial resources and therefore are not reported as revenues in the governmental funds. Some revenues reported in the prior year Statement of Activities were recognized in the governmental funds in the current year. This is the net change in revenues.

Debt proceeds provide current financial resources to governmental funds; however, issuing debt increases long-term liabilities in the Statement of Net Position.

Repayment of debt principal is an expenditure in the governmental funds, but the repayment reduces long-term liabilities in the Statement of Net Position.

Debt principal payments
Proceeds from bond issuance
Net accretion on bond premiums/discounts
Compensated absences expenditures reported in the Statement of Activities do not require the use of current financial resources and therefore are not reported as expenditures in a Eovernmental fund. This is the net changc in compcnsatcd absences for the current period.

Receipts of payments and disbursements of funds related to notes and loans receivable are reported as revenue and expenditures, respectively, in governmental funds, but an increase and decrease, respectively, in notes receivable in the Statement of Net Position.

Loan program receipts
Loans made during the year
Accrued interest payable is interest due on long-term liabilities. This is the net change in accrued interest in the current period.

Some expenses reported in the Statement of Activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds.

Pension expense related to deferred outflows and inflows of resources lnternal service funds are used by management to charge the costs of certain activities, such as equipment replacement, to individual funds. The net revenue (expense) of the internal service funds is reported with the governmental funds.

Change in net position of governmental activities
See accompanying notes to the basic financial statements. 11 $ 3,722,542
5,377,797
(4,286,657)
(1,762,779)
1,479,501
(17,527,728)
184,687
(73,7't3)
12,854
(133,464)
(1e6,035)
15,270,407
(135.308)
$J.993!!g!

CITY OF SANGER

STATEMENT OF NET POSITION

PROPRIETARY FUNDS
JUNE 30,2022
Business.Type
EnterDrise
Activities
Funds
Governmental
Activities
Water Sewer Disposal
Total
Enterprise
Funds
lnternal
Service Funds
ASSETS
Current Assets
Cash and investments
Restricted cash and investments
Accounts receivable, net
lnventory
3,468,954
640,963

8.524j45 9.965.699 4,109.917 22,5s9.761Total Current Assets Non Current Assets
Capital assets, net
Total Non-Current Assets
Total Assets

DEFERRED OUTFLOWS OF RESOURCES
Changes in the net pension liability
Deferred loss on refunding
Total Deferred Outllows of
Resources

LIABILITIES
Current Liabilities
Accounts payable
Accrued payroll and benefits
lnterest payable
Deposits
Unearned revenue
Compensated absences - current
Bonds payable - current
Claims payable - current
Total Current Liabilities
Non-Current Liabilities
Compensated absences - noncurrent
Bonds payable - noncurrent
Net pension liability
Claims payable - noncurrent
Total Non-Current Liabilities
Total Liabilities

DEFERRED INFLOWS OF RESOURCES
Changes in the net pension liability

NET POSITION
Net investment in capital assets
Restricted
Unrestricted
$ 6,816,651 $
3,648
1,703,846
8,843,672 $
6,356
1,115,671
$ 19,129,277 $
10,004
3,460,480
396,277
710

4.611
401,598

13.824.743

13.824,743

22.348.888

12.770.916

12.770.916

22.736.615
325.964
325.964

4.435.881

26.921.623

26.921.623

49.521.384 401,598

1.690.748 2.969.467 715.769 5.375.984
1,612,726

78.O22
434,775
8,758
12,650
254,846
5,916
1'l,247
98,684
1,192
4,756,005
1,376,859

6.134.056

6.960,932
2,870,561
98,906
313,306
22,768
28,464
8,524
24,889
980,215
20,233,815
2,450,731

22.684.546

24.062.712
715,769
592,713
5,942
5,199,056,t76.928
'1,340,794
37,468
41,114
254,846
17,786
44,209
1 ,101 ,394
175,596
29,696
92,355
3,346
8,073
22,495
826.876 1.378,166 632.569 2.837.611 297.447
438,058
611,085
1,192
25,427,878
4,438,675
379.327

1.049.143

1.681.712

29.867.745

32.705,356
379,327
676.974

1.209.729 2.153,244 536.897 3.899.870
'10,007,743
3,648

5.857,584
$ 15.868.975
(6,497,178)
6,356

5.980.948
$_e99gg
325,964

2.607.O77
$ 2.933.041
3,836,529
10,004

14.445,609 (275.376\
$ 18.292.142 $ (275.376)
See accompanying notes to the basic financial statements. 12 Total Net Position

CITY OF SANGER

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION

PROPRIETARY FUNDS
FOR THE YEAR ENDED JUNE 30, 2022
Business-Type Activities
e
Total
Enterprise
Funds
Governmental
Activities
Water Sewer
lnternal Seruice
Funds

OPERATING REVENUES
Charges for services
Other revenue
Total Operatlng Revenue

OPERATING EXPENSES
Salaries and benefits
Vehicle operations
Supplies and services
General and administrative
Depreciation and amortization
Total Operating Expenses
Operating lncome (Loss)
NON.OPERATING REVENUES
(EXPENSESI
lnterest income (loss)
lntcrcst cxpen8e
Total Non-Operating Revenues
(Expenses)
Change in net position
Net Position (Deficit) - July 1, 2021
Net Position (Deficit) - June 30, 2022
$ 3,172,332

62.917
649,475
13,209
1,559,207
484,472
838.647
(5o,4ee)
(321.033)
$ 5,263,429
_ll-9@
1,060,707
20,878
1,440,136
687,628
941.655
't7,476
{t.658.945)
$ 3,111,616

56.732
266,613
2,294,397
426,9M

26.283
1,976,795
34,087
5,293,740
1,599,064

1.806.585
3,946,246
1,443,869
628,817
$ 11,547 ,377 $ 5,883,624
229,908 ....-

3.235.249 5.373.688 3.168.348 11 .777 .285 5.883.624
3,545.010 _1,1_g!-@1 3.014.257 10.710.271 6,018,932
(309.761) 1.222.684 154.091 1.067.014 anRl
(2,130) (35,153)
(3,s91) (1,083,569)
(37't.5321 {1.641.469) 6.721t e.018.722',t

16.550,268
$ 1s.868.975'€
(s1.089)
(681.293) (418.785) 148.370

2.784.671
$ 2.933.M1'-
_le5]-49)

19.243.850
s '18.292.142'@
{1 35.308)
(140.068)
$-{3Zq9)$-JW9
See accompanying notes to the basic financial statements. 13 CITY OF SANGER

STATEMENT OF CASH FLOWS

PROPRIETARY FUNDS
FOR THE YEAR ENDED JUNE 30, 2022
Business- Activities
Funds
Governmental
Activities
Water Sewer Disposal
Total
Enterprise
Funds
lnternal
Service Funds

CASH FLOWS FROM OPERATING

ACTIVITIES
Cash received from customers
Cash paid to suppliers
Cash paid to employees
Net Cash Provided by (Used for) Operating
Activities

CASH FLOWS FROM CAPITAL AND

RELATED FINANCING ACTIVITIES
Bond issuance costs
Proceeds of bond issuance
Acquisition of capital assets
Principal paid on long-term debt
lnterest paid on long-term debt
Cash and investments
Restricted cash and investments
Cash and Cash Equivalents -
June 30,2022
$ 3,170,152 $
(1,943,505)
(1,625.295)
5,100,339 $
(2,052,534)
Q.422.832\
3,045,562 $ 11,3'16,053 $
(2,515,703) (6,5',11,742)
{687.320) U.73s.447\
5,884,',174
(1,742,187)
(3.947.270\
624.973 (57.461') 68,864 194.717
(124,326)
4,854,689
(332,640)
(3,650,000)
(269.405)
(258,220)
21,989,030
(323,993)
(19,505,000)
o.274.D44\
460,553
(382,546)
27,304,272
(656,633)
(23,1 55,000)
(2,547,039)(3.590)
Net Cash Provided by (Used for) Capital
and Related Financing Activities

CASH FLOWS FROM INVESTING

ACTIVITIES
lnterest and dividends
Net Cash Provided by (Used for) lnvesting
Activities
Net lncrease in Cash and Cash
Equivalents
Cash and Cash Equivalents -
July 1,2021
Cash and Cash Equivalents -
June 30,2022
Reconciliation of Cash and Cash Eouivalents to the Statement of Net Position 478.318 (372.227\ 456.963 563.054
(50.499) 17.476 (2.130) (35.153)
(50.499) 17.476 (2.'t30\ (35,1 53)
29,171 270,222 297,372 596,765 194,717

6.791.128 8.579.806 3,171 .582 18,542.5't6 201.560
$ 6,816,651 $ 8,843,672 $ 3,468,954

3.648 6,356
-
s 19,129,277 $ 396,277
10,004
$ 0J20299 $ 8,850,028 $ 3,468,954 $ 19.139.281 $ 396.277 -
:

See accompanying notes to the basic financial statements. 14 CITY OF SANGER
STATEMENT OF CASH FLOWS (continued)

PROPRIETARY FUNDS
FOR THE YEAR ENDED JUNE 30, 2022
Bus iness-Type Activities Governmental
ActivitiesFunds
Water
Total
Enterprise
Funds
Internal
Service Funds

RECONCILIATION OF OPERATING
INCOME {LOSSI TO NET CASH

PROVIDED BY (USED FORI
OPERATING ACTIVITIES:

Operating lncome (Loss)
Adiustments:

Depreciation expense
Pension expense (credit)
Changes in assets and liabilities:
(lncrease) decrease in accounts
receivable
Decrease in inventory
increase in accounis payable
Decrease in deposits
lncrease in claims payable
lncrease (decrease) in accrued payroll
and benefits
lncrease (decrease) in compensated
absences
(63,136) (273,349)
i 13,383
(1,e01)
YO, rUO
(122,786)
205,658
(459,331)
+ro, t+u
(1,e01)
866 (2,7561
3,891
--
(18,_676)
Sewer Disposal
$ (309,761) $ 1,222,684 $ 154,091 $ 1,067,014 $ (135,308) 838,647
(s58,605)
(4,553)
n2.662\
941,655
(1,353,151)
931
(9.905)
26,283
(425,464)
't,806,585
(2,737,220)
550
3,794
u I ,J4O
275,377
('t,024)
Net Cash Provided by (Used for) Operating
Activities $:Qp$plg) $_g4gzg $_11.E?,j!90 $-99dg1 $-Jg!frL See accompanying notes to the basic financial statements. 15 CITY OF SANGER

STATEMENT OF FIDUCIARY NET POSITION

FIDUCIARY FUNDS
JUNE 30, 2022
$
Private-
Purpose
Trust Fund
Gustodial
Fund
Successor
Agency
South Kings
Groundwater
Sustainability
ASSETS
Cash and investments (Note 2)
Accounts receivable
Land held for resale
Capital assets, net of accumulated depreciation (Note '13) Total Assets

LIABILITIES
Accounts payable
Total Liabilities

NET POSITION
Held in trust for private purposes
Restricted for:
lndividuals, organizations, and other governments
Total Fiduciary Net Position
445,203 $
1 1,172,598

43.270

1.617.802 14.165

30.054

30.054
1,617,802
584.111
$.1^17Rn2 *.5n4,','1
539,569
31,326
See accompanying notes to the basic financial statements. 't6

CITY OF SANGER

STATEMENT OF CHANGES IN FIDUCIARY NET POSITION

FIDUCIARY FUNDS
FOR THE YEAR ENDED JUNE 30, 2022
Private-
Purpose
Trust Fund
Custodial
Fund

ADDITIONS
Property taxes
lnterest income
Fees and other revenues
Total Additions

DEDUCTIONS
Program expenses
Depreciation
Pass ihrough to City
Total Deductions
Change in Fiduciary Net Position
Fiduoiary Net Poeition - July 1, 2021
Fiduciary Net Position - June 30,2022
South Kings
Successor Groundwater
Agency Sustainability
$ 324,826 $
2,454

1.325.161
327.280 1.325.161
892,762
490

1.528.538
1,248,500

2.421.790 5nn
(2.094.510) 76.661
3,712,312 507,450
qgllz *_9111
17 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 1: REPORTING ENTITY AND SUMMARY OF SlcNlFlcANT AGGOUNTING POLICIES A. The Reporting Entity
The City of Sanger (the City) was incorporated in 1911 under the General Laws of the State of California. The City operates under a Council-Manager form of government governed by a five-member council and provides the following services; public safety (police, fire, and paramedic), community services, street construction and maintenance, planning and zoning, street cleaning, transit, sanitation, and general administration.

The accompanying basic financial statements present the financial activities of the City along with the financial activities of its blended component units, which are entities for which the City is financially accountable. Together these entities comprise the primary government for reporting purposes. Although they are separate legal entities, blended component units are in substance part of the City's operations and are reported as an integral part of the City's financial statements.

The City's component units, which are described below, are all blended.

Sanoer Public Financinq Authoritv
The Sanger Public Financing Authority (the Financing Authority) was established in 1995 pursuant to California Government Code, Section 6500. The Financing Authority was established to provide a financing mechanism for the City and former Redevelopment Agency's various public projects. As all debt issued by the Sanger Public Financing Authority has been paid off or refunded, there was no activity in the fund in the current year. There are no separate financial statements prepared for the Sanger Public Financing Authority.

Sanoer Housinq Authoritv
The Sanger Housing Authority (the Housing Authority) was reactivated on February 3, 2011 in accordance with California Housing Authority Law (Health and Safety Code Section 34200). Certain assets of the former Redevelopment Agency's Low and Moderate lncome Housing Funds were transferred to the Housing Authority on February 1 , 2012. The activity of the Housing Authority is reported in the Special Revenue Funds. There are no separate financial statements prepared for the Housing Authority.

Sanqer Financino Authoritv
The Sanger Financing Authority (the Sanger Financing Authority) is a public agency duly organized and existing pursuant to a Joint Exercise of Powers Agreement (the JPA Agreement) between the City and California Municipal Finance Authority (CMFA), dated September 20,2013. The Sanger Financing Authority is governed by a board of directors comprised of the five members of City Council. The Sanger Financing Authority is statutorily authorized by Article 4 of Chapter 5 of Division 7 of Title 1 of the California Government Code and is empowered under the JPA Agreement to issue its bonds for, among other things, the purposes of the plan of financing described herein. The transactions are reported in the debt service fund. There are no separate financial statements prepared for the Sanger Financing Authority.

The accounting policies of the City of Sanger conform to accounting principles generally accepted in the United States of America as applicable to governments. The following is a summary of the more significant policies:

B. Basis of Presentation
The City's basic financial statements are prepared in conformity with accounting principles generally accepted in the United States of America. The Government Accounting Standards Board is the acknowledged standard setting body for establishing accounting and financial reporting slandards followed by governmental entities in the United States of America. These standards require that the financial statements described below be presented. 18 '*.1

CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE l: REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Government-wide Financial Statements:

The Statement of Net Position and Statement of Activities display information about the reporting government as a whole. They include the activities of the overall City government except for fiduciary activities. Eliminations have been made to minimize the double counting of internal service activities. lnterfund services provided and used are not eliminated in the process of consolidation. The City's net position is reported in three parts - net investment in capital assets; restricted net position; and unrestricted net position. The City first utilizes restricted resources to finance qualifying activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange revenues. Business-type activities are financed in part by fees charged to external parties for goods or services.

The Statement of Activities presents a comparison between direct expenses and program revenues for each function of the City's governmental activities. Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Program revenues include (a) charges paid by the recipients of goods or services offered by the programs, (b) grants and contributions that are restricted to meeting the operational needs of a particular program and (c) fees, grants and contributions that are restricted to financing the acquisition or construction of capital assets. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues.

Fund Financial Statements:

The fund financial statements provide information about the City's funds, including fiduciary funds and blended component units. Each fund is accounted for by providing a separate set of self-balancing accounts that constitute its assets, deferred outflows of resources, liabilities, deferred inflows of resources, net position, revenues and expcrrditure/cxpcn$c$, Funds arc orgatrized itrto three rnajor"categories: governmental, proprietary, and fiduciary. An emphasis is placed on major funds within the governmental and proprietary categories with each major fund displayed in a separate column. A fund is considered major if it is the primary operating fund of the City or meets the following criteria:
a. Total assets and deferred outflows of resources, liabilities and deferred inflow of resources, revenues or expenditures/expenses of that individual governmental or enterprise fund are at least 10 percent of the correspondlng total for all funds of that category or type; and b. Total assets and deferred outflows of resources, liabilities and deferred inflows of resources, revenues, or expenditures/expenses of the individual governmental fund or enterprise fund are at least 5 percent of the corresponding total for all governmental and enterprise funds combined.

All remaining governmental funds are aggregated and reported as nonmajorfunds in a single column, regardless of their fund type.

The funds of the financial reporting entity are described below:

Governmental Funds
General Fund - The General Fund is the general operating fund of the City and is always classified as a major fund. lt is used to account for all activities except those legally or administratively required to be accounted for in other funds.

Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of specific revenue sources that are restricted or committed to expenditures for specified purposes other than debt service or capital projects.

Debt Service Funds - Debt Service Funds are used to account for and report financial resources that are restricted, committed, or assigned to expenditures for principal and interest. 19 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE l: REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Proprietary Funds
Enterorise Funds - Enterprise funds are used to account for business-like activities provided to the general public.

These activities are financed primarily by user charges and the measurement of financial activity focuses on net income measurement similar to the private sector.
lnternal Service Funds - lnternal service funds are used to account for, and finance, services and commodities furnished by a designated department of a governmental unit to other departments of the same governmental unit. The City's internal service funds account for the financing of special activities that provide services within the City. These activities include administration, equipment maintenance, and self-insurance programs.

Fiduciary Funds (not included in government-wide statements) Private-Purpose Trust Funds - Private-Purpose Trust Funds are used to report all other trust arrang principal and income benefit individuals, private organizations, or other governments. These incl Successor Agency to the Redevelopment Agency of the City of Sanger. ements under which
ude activities of the
Custodial Funds - Custodial funds are used to report fiduciary activities that are not required to be reported in pension (and other employee benefit) trust funds, investment trust funds, or private-purpose trust funds.

Major Funds
The City reported the following major governmental funds in the accompanying financial statements:

General Fund - This is the general operating fund of the City. lt is used to account for all financial resources except those required to be accounted for in a separate fund.

Measure S District Sales Tax - A3l4 cent District sales tax imposed in the City to fund police, fire, paramedic, 9-1-1 emergency, and g a ng/d ru g prevention services.

State Grants Fund - This fund accounts for financial activity related to grants received from state agencies.

Sanqer Financinq Authoritv - This fund accounts for debt service activity related to the City's various bond issuances.

The City reports the following major proprietary funds in the accompanying financial statements:

Water Fund - This fund accounts for the operations related to the City's water delivery system.

Sewer Fund - This fund accounts for the financial activity related to the construction, maintenance and repair of the sanitary sewer system.

Disposal Fund - This fund accounts for activities related to refuse collection, street sweeping and City recycling services.

The City also reports the following fund types:

Successor Aoencv Private-Puroose Trust Fund - This fund is a private-purpose trusl fund and was created as a result of the State order to dissolve California Redevelopment Agencies. As the Successor Agency, this fund is used to track the activity of the Oversight Board and the Department of Finance to dissolve the Agency.

South Kinqs Groundwater Sustainabilitv Trust Custodial Fund - ln September ol 2014, Senate Bills 1 168 and 1319 and Assembly Bill 1739 were signed into law as the Sustainable Groundwater Management Act (SGMA), which requires the establishment of Groundwater Sustainability Agencies (GSAs) by June 30, 2017. The City of Sanger was appointed Treasurer for this agency and the fund was created to account for all monies. 20 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 1: REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) C. Measurement Focus and Basis of Accounting
Measurement focus is a term used to describe "which" transactions are recorded within the various financial statements.

Basis of accounting refers to "when" revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements regardless of the measurement focus applied.

Measurement Focus
On the government-wide Statement of Net Position and lhe Statement of Activities, both governmental and proprietary activities are presented using the economic resources measurement focus as deflned in item "b" below. ln the fund financial statements, the "current financial resources" measurement focus or the "economic resources" measurement focus is used as appropriate:
a. All governmental funds are accounted for using a "current financial resources" measurement focus. With this measurement focus, only current assets and current liabilities generally are included on their balance sheets.

Their operating statements present sources and uses of available spendable financial resources during a given period. These funds use fund balance as their measure of available spendable financial resources at the end of the period.
b. All proprietary funds utilize an "economic resources" measurement focus. The accounting objectives of this measurement focus are the determination of operating income, changes in net position (or cost recovery), financial position, and cash flows. All assets and deferred outflow of resources and all liabilities and deferred inflow of resources (whether current or noncurrent) associated with the operation of these funds are reported.

Ptuptielaly [urrd equily ir ulassified as l'!et position= c. Fiduciary funds use the "economic resources" measurement focus and the accrual basis of accounting.

Basis of Accountinq
ln the government-wide Statement of Net Position and Statement of Activities, both governmental and proprietary activities are presented using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic asset is used.

Revenues, expenses, gains, losses, assets and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place.
ln the fund financial statements, governmental funds are presented on the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when "measurable and available." Measurable means knowing or being able to reasonably estimate the amount. Available means collectible within the current period or soon enough thereafter to pay current liabilities. The City defines available to be within 60 days of year-end.

Expenditures (including capital outlay) are recorded when the related fund liability is incurred, except for principal and interest on long-term liabilities, claims and judgments, and compensated absences, which are reported when due.

Governmental capital asset acquisitions are reported as expenditures in governmental funds. Proceeds for governmental long-term liabilities and acquisitions under capital leases are reported as other financing sources.

Those revenues susceptible to accrual include taxes and intergovernmental revenues. All other revenue items are considered to be measurable and available only when cash is received by the government. lmpact fees are received and recognized as revenue upon project completion and inspection. Certain indirect costs are included in program expenses reported for individual functions and activities.

Grant revenues are recognized in the fiscal year in which all eligibility requirements are met. Under the terms of grant agreements, the City may fund certain programs with a combination of cost-reimbursement grants, categorical block grants, and general revenues. Thus, both restricted and unrestricted net position are available to finance program expenditures. The City's policy is to first apply restricted grant resources to such programs, followed by general revenues if necessary.
21 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE l: REPORTING ENTIW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) All proprietary funds utilize the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic asset is used.

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 funds's principal operations. The principal operating revenues of the enterprise and internal service funds are charges for services. Operating expenses for proprietary 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. When both restricted and unrestricted resources are available for use, it is the City's policy to use restricted resources first, then unrestricted resources as they are needed.

The City's fiduciary funds consist of a private-purpose trust fund and custodial, which are reported using the economic resolJrces measurement focus.

D. Property Taxes
The County of Fresno levies, bills, and collects property taxes for the City. Property taxes levied are recorded as revenue when received, except at year-end when available taxes, or those collected within 60 days of fiscal year end, are accrued pursuant to the modified accrual basis of accounting.

Tax collections are the responsibility of the County Tax Collector. Taxes and assessments on secured and utility rolls which constitute a lien against the property, may be paid in two installments; the first is due November 1 of the fiscal year and is delinquent if not paid by December 10, and the second is due on February 1 of the fiscal year and is delinquent if not paid by April 10. Unsecured personal property taxes do not constitute a lien against real property unless the tax becomes delinquent. Significant penalties are imposed by the County for late payment.

Property valuations are established by the Assessor of the County of Fresno for the secured and unsecured property tax rolls. Under the provisions of Article XlllA of the State Constitution, properties are assessed al 100% of purchase price or value in 1978 whichever is later. From this base assessment, subsequent annual increases in valuation are limited to a maximum of 2 percent. However, increases to full value are allowed for property improvements or upon change in ownership. Personal property is excluded from these limitations, and is subject to annual reappraisal.

Tax levy dates are attached annually on January 1 preceding the fiscal year for which the taxes are levied. The fiscal year begins July 1 and ends June 30 of the following year. Taxes are levied on both real and unsecured personal property, as it exists at that time. Liens against real estate, as well as the tax on personal property, are not relieved by subsequent renewal or change in ownership.

E. Cash and lnvestments
Under the City's cash management program, cash in excess of operating requirements from all funds is pooled with the purpose of maximizing interest through investment activities, and is deposited in savings accounts or invested in bank certificates of deposit, bank money market accounts and the State of California Local Agency lnvestment Fund (LAIF). lnterest income earned on pooled cash and investments is allocated monthly to the various funds based on month-end balances and is adjusted at fiscal year-end.

For purposes of the statement of cash flows, the City has deflned cash and cash equivalents to be change and petty cash funds and highly liquid investments with a maturity of three monlhs or less when purchased. All cash and investments of the enterprise funds are pooled with the City's pooled cash and investments. 22 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 1: REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) F. Accounts and lnterest Receivables
ln the government-wide statements, receivables consist of all revenues earned at year-end and not yet received.

Receivables are recorded in the financial statements net of any allowance for doubtful accounts if applicable, and estimated refunds due. Major receivable balances for the governmental activities include sales and use taxes, franchise taxes, grants, fines, interest, and other fees. Federal and state grants are considered receivable and accrue as revenue when reimbursable costs are incurred.
ln the fund financial statements, material receivables in governmental funds include revenue accruals such as sales tax, franchise tax, and grants and other similar intergovernmental revenues since they are usually both measurable and available. Nonexchange transactions collectible but not available are recorded as outflows of resources in the fund financial statements in accordance with modified accrual, but not deferred in the government-wide financial statements in accordance with the accrual basis. lnterest and investment earnings are recorded when earned only if paid within 60 days since they would be considered both measurable and available. Long-term loans in governmental funds are treated as expenditures in the year advanced and as revenues in the year repayment is measurable and available.

Loans receivable are recorded in the fund statements, but are recorded as deferred inflows of resources to indicate they do not represent current financial resouroes. Proprietary fund material receivables consist of all revenues earned at year-end and not yet received. Utility accounts receivable and interest earnings compose the majority of proprietary fund receivables.

G. Capital Assets
The accounting treatment over property, plant and equipment depends on whether the assets are used in governmental fund operations or proprietary fund operations and whether they are reported in the government-wide or fund financial statements.

Government-wide Statements
ln the government-wlde flnanclal statements, capital outlay with a cost of $5,000 or more and a useful life of one year or longer are capitalized. All capital assets are valued at historical cost, or estimated historical cost if actual is unavailable, except for donated capital assets which are recorded at their estimated fair value at the date of donation. The cost of normal maintenance and repairs that do not add to the value of the asset or materially extend the asset lives are not capitalized.

Depreciation is provided over the assets' estimated useful lives using the straight-line method of depreciation. The range of estimated useful lives by type of asset is as follows:

Machinery and equipment
Buildings and improvements
lnfrastructure
5 - 20 years
15 - 40 years
35 - 50 years
The City defines infrastructure as capital assets that are stationary and have expected useful lives significantly in excess of most capital assets. The assets include the street system, sewer collection and treatment system, park and recreation improvements, storm water conveyance system, and permanent monuments and signage.

Fund Financial Statements
ln the fund financial statements, capital assets used in governmental fund operations are accounted for as capital outlay expenditures of the governmental fund upon acquisition. Capital assets used in proprietary fund operations are accounted for the same as in the government-wide statements. 23 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE l: REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) H. Compensated Absences
A liability is calculated for all the costs of compensated absences based upon benefits earned by employees in the current period for which there is a probability of payment at termination. The salary and related payroll costs are those in effect at June 30, 2022. Accumulated unpaid vacation is accrued when earned and generally does not exceed the amount earned for one year; however, an employee may accumulate up to a maximum of 240 hours of earned vacation time afterwhich no furthervacation accrues to the employee, with the exception of fire employees, which can accrue up to 298 hours.

Upon termination, the City is not liable to pay for accrued sick leave; therefore, sick leave is recorded as an expenditure in the year used. The amounts accrued for financial statement purposes represent 100% of the administrative leave, professional leave, compensatory time off and vacation pay liabilities at June 30,2022. l. Long-TermLiabilities
ln the government-wide financial statements and the proprietary fund types in the fund financial statements, long-term liabilities, and other long term obligations are reported as liabilities in the applicable governmental activities, business- type activities, or proprietary fund type statement of net position. lnitial issue bond premiums and discounts, are deferred and amortized over the life of the bonds using the straight-line method. The difference between the reacquisition price of refunding bonds and the net carrying amount of refunded debt (deferred amount on refunding) is amortized over the shorter of the lives of the refunding debt or remaining life of the refunded debt. Bond issuance costs, except for insurance, are expensed in the period incurred. Amortization of bond premiums or discounts, insurance costs, and deferred amounts on refunding is included in interest expense. ln the fund financial statements, governmental fund types recognize bond premiums, discounts, and issuance costs during the period issued. The face amount of debt issued is reported as otherfinancing sources. Premiums received are reported as other financing sources, while discounts are reported as other financing uses. lssuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

J. Deferred Outflows/lnflow of Resources
ln addition to assets, the statement of net position or balance sheet will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets or fund balance that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. The City has the following items that qualify for reporting in this category:

Deferred loss on refunding results from the difference in the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized overthe life of the refunding debt.

Deferred outflows related to employer contributions made after the measurement date of the net pension liability.

Deferred outflows related to the changes in the net pension liability. ln addition to liabilities, the statement of net position or balance sheet will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets or fund balance that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The City has the following items that qualify for reporting in this category:

Unavailable revenue is reported only in the governmental funds. The governmental funds report unavailable revenues from notes receivable and grants. This amount is deferred and recognized as an inflow of resources in the period that the amounts become available.

Deferred inflows related to the changes in the net pension liability. a
a
a
a
24 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE l: REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) K. Pensions
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 (CaIPERS) plan (the Plan) and additions to/deductions from the Plan's fiduciary net position have been determined on the same basis as they are reported by CaIPERS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. lnvestments are reported at fair value.

L. lnterfund Transactions
lnterfund transactions are reflected as either loans, services provided, reimbursements, ortransfers. Loans are reported as receivables and payables as appropriate, are subject to elimination upon consolidation and 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). Any residual balances outstanding between the governmental activities and the business{ype activities are reported in the government-wide financial statements as "internal balances". Advances between funds, as reported in the fund financial statements, are offset by a fund balance reserve account in applicable governmental funds to indicate that they are not available for appropriation and are not available financial resources.

Services provided, deemed to be at market or near market rates, are lreated as revenues and expenditures/expenses.

Reimbursements are when one fund incurs a cost, charges the appropriate benefiting fund, and reduces its related cost as a reimbursement. All other interfund transactions are treated as transfers. Transfers between governmental or proprietary funds are netted as part of the reconciliation to the government-wide presentation.

M. Equity Classifications
Government-wide Statements
Net posltlon is the excess of all the City's assets and deferred outflows of resources over all its liabilities and deferred inflows of resources, regardless of fund. Net position is divided into three categories. These categories apply only to net position, which is determined at the Government-wide level, and are described below:
a. Net investment in capital assets - Consists of capital assets including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances of any bonds, mortgages, notes, or other borrowings that are attributable to the acquisition, constructions, or improvements of those assets. b. Restricted net position - Consists of net position with constraints placed on the use either by (1)external groups such as creditors, grantors, contributors, or laws or regulations of other governments; or (2) law through constitutional provisions or enabling legislation. c. Unrestricted net position - All other net position that do not meet the definition of "net investment in capital assets," or "restricted."
Fund Financial Statements
The governmental fund financial statements present fund balances based on classifications that comprise a hierarchy that is based primarily on the extent to which the City is bound to honor constraints on the specific purposes for which amounts in the respective governmental funds can be spent. The classifications used in the governmental fund financial statements are as follows:
a. Nonspendable - Amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact. b. Restricted - Amounts that are restricted for specific purposes when constraints placed on the use of resources are either (a) externally imposed by creditors, grantors, contributors, laws, or regulations of other governments; or (b) imposed by law through constitutional provisions or enabling legislation. 25 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE t: REPORTING ENTIW AND SUMMARY OF SIcNIFICANT ACCOUNTING POLICIES (continued) c. Committed - Amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the government's highest level of decision-making authority. d. Assigned - Amounts that are constrained by the government's intent to be used for specific purposes, but are neither restricted or committed.
e. Unassigned - Amounts representing the residual classification for the general fund.

Further detail about the City's fund balance classification is described in Note 8.

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

O. lmplementation of Government Accounting Standards Board Statements Effective July 1,2021, the City implemented the following accounting and financial reporting standards:

Governmental Accountino Standards Board Statement No. 87 ln June 2017, GASB issued Statement No. 87, Leases. This Statement (1) 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; and (2) establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. Additionally, 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. There was no impact to the financial statements as a result of this statement.

Governmental Accountinq Standards Board Statement No. 89 ln June 2018, GASB issued Statement No. 89, Accounting for lnterest Cost lncurred before the End of a Construction Period. This Statement establishes accounting requirements for interest cost incurred before the end of a construction period. 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 a business-type activity orenterprise fund. The City adopted this accounting guidance for its June 30, 2022 year-end. There was no impact to the financial statements as a result of this statement.

Government Accountinq Standards Board Statement No. 92
ln January 2020, GASB issued Statement No. 92, Omnibus 2020. The primary objectives of this Statement are to enhance comparability in accounting and financial reporting and to improve the consistency of authoritative literature by addressing practice issues that have been identified during implementation and application of certain GASB Statements.

The City adopted this accounting guidance for its June 30, 2022 year-end. There was no impact to the financial statements as a result of this statement.

Government Accountino Standards Board Statement No. 93
ln March 2020, GASB issued Statement No. 93, Replacement of lnterbank Offered Rates. The primary objective of this Statement is to address accounting and financial reporting implications that result from the replacement of an interbank offered rate (IBOR). The City adopted this accounting guidance for its June 30,2022 year-end. There was no impact to the financial statements as a result of this statement. 26 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE l: REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Government Accountinq Standards Board Statement No. 97
ln June 2020, GASB issued Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial Reporting for lnternal 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 primary objectives of this Statement are to (1) increase consistency and comparability related to the reporting of fiduciary component units in circumstances in which a partial 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 tor lnternal Revenue Code (lRC) Section 457 deferred compensation plans (Section 457 plans) that meet the definition of a pension plan and for benefits provided through those plans. The City adopted this accounting guidance for its June 30, 2022 year-end. There was no impact to the financial statements as a result of this statement.

P. Future Government Accounting Standards Board Statements These statements are not effective until July 1, 2022 or later. The City has not determined the effects on the financial statements.

Government Accountinq Standards Board Statement No. 91
ln May 2019, GASB issued Statement No. 91, Conduit Debt Obligations. The primary objectives of this Statement are to provide a single method of reporting conduit debt obligations by issuers and eliminate diversity in practice associated wilh (1) corntnitlnenls exlelrded by issueru, (2) arrangenrents assrrciated witlt conduit debt obligations, and (3) related note disclosures. This Statement achieves those objectives 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. Application of this statement is effective for the City's fiscal year ending June 30,2023.

Government Accountlno Standards Board Statement No. 94
ln March 2020, GASB issued Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements. The primary objective of this Statement is to improve financial reporting by addressing issues related to public-private and public-public partnership arrangements (PPPs). A PPP is an arrangement in which a government (the transferor) contracts with an operator (a governmental or nongovernmental entity) to provide public services by conveying control of the right to operate or use a nonfinancial assets, such as infrastructure or other capital asset (the underlying PPP asset), for a period of time in an exchange or exchange-like transaction. This Statement also provides guidance for accounting and financial reporting for availability payment arrangements (APAs). An APA is an arrangement in which a government compensates an operator for services that my include designing, constructing, financing, maintaining, or operating an underlying nonfinancial asset for a period of time in an exchange or exchange- like transaction. The requirements of this statement are effective for the City's fiscal year ending June 30,2023.

Government Accountinq Standards Board Statement No. 96
ln May 2020, GASB issued Statement No. 96, Subscnption-Based lnformation Technology Anangements. This Statement provides guidance on the accounting and financial reporting for subscription-based information technology arrangements (SBlTAs) for governments, defines a SBITA, establishes that a SBITA results in a right-to-use subscription asse[an intangible asset-and a corresponding liability, provides the capitalization criteria for outlays other than subscription payments, including implementation costs of a SBITA, and requires note disclosures regarding a SBITA. The requirements of this statement are effective for the Gity's fiscal year ending June 30,2023. 27 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 1: REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Government Accountinq Standards Board Statement No. 99
ln April 2022, GASB issued Statement No. 99, Omnibus 2022.This primary objectives of this Statement are to enhance comparability in accounting and financial reporting and to improve consistency of authoritative literature by addressing (1) practice issues that have been identified during implementation and application of certain GASB Statements and (2) accounting and flnancial reporting for guarantees. The requirements of this statement related to leases, PPPs and SBITAS are effective for the Clty's fiscal year ending June 30, 2023 and the requirements related to financial guarantees and the classification and reporting of derivative instruments within the scope of Statement 53 are effective for the City's fiscal year ending June 30, 2024.

Government Accountinq Standards Board Statement No. 100 ln June 2022, GASB issued Statement No. 100, Accounting Changes and ErrorCorrections -An Amendment of GASB Statement No. 62. This primary objective of this Statement is to enhance accounting and financial reporting requirements for accounting changes and error corrections to provide more understandable, reliable, relevant, consistent, and comparable information for making decisions or assessing accountability. The requirements of this statement are effective for the City's fiscal year ending June 30,2024.

Government Accountinq Standards Board Statement No. 101 ln June 2022, GASB issued Statement No. 101, Compensated Absences. This primary objective of this Statement is to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences by aligning the recognition and measurement guidance under a unified model and amending certain previously required disclosures. The requirements of this statement are effective for the City's fiscal year ending June 30, 2025.

Government Accountinq Standards Board Statement No. 102 ln December 2023, GASB issued Statement No, 102, Certain Risk Disclosures. The primary objective of this Statement is to provide users of government financial statements with essential information about risks related to a government's vulnerabilities due to certain concentrations or constrainls. A concentralion is defined as a lack of diversity related to an aspect of a significant inflow of resources or outflow of resources. A constraint is a limitation imposed on a government by an external party or by formal action of the government's highest level of decision-making authority. The requirements of this statement are effective for the City's fiscal year ending June 30, 2025.

Government Accountinq Standards Board Statement No. 103 ln April 2024, GASB issued Statement No. 103, Financial Repofting Model lmprovemenfs. The objective of this Statement is to improve key components of the financial reporting model to enhance it effectiveness in providing information that is essential for decision making and assessing a government's accountability. This Statement also addresses certain application issues. The requirements of this statement are effective for the City's fiscal year ending June 30, 2026.

Government Accountinq Standards Board Statement No. 104 ln September 2024, GASB issued Statement No. 104, Drsc/osure of Certain Capilal Assefs. The objective of this Statement is to provide users of government financial statements with essential information about certain types of capital assets. This Statement requires certain types of capital assets to be disclosed separately in the capital assets note disclosures required by Statement 34 and also requires additional disclosures for capital assets held for sale. The requirements of this statement are effective for the City's fiscal year ending June 30, 2026. 28 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 2: CASH AND INVESTMENTS
Cash and investments as of June 30,2022 were classified in the accompanying financial statements as follows:

Cash and
Restricted
Gash with
Fiscal Aqent Total
Governmental activities
Business-type activities
Total government-wide cash and
investments
Fiduciary activities
Total cash and investments

38.767.342 8.721.292 47.488.634
984,772 984.772
$ 48.473.406--$ 39.752.114 S 8.721.292
-$ 3,990

15.931.256

15.995.246
1,480,788
21,090,814
1,434,981
8 471.577
$ 19,638,065 $

19.129.277
8,711,288 $
'10.004
28,349,353

19.139.281
Cash and investments were carried at fair value as of June 30,2022 and consisted of the following Total investments 32.478.160
Total cash and investments $--3944149
Authorized lnvestments of the Citv
The table below identifies the investment types that are authorized by the City's investment policy Cash on hand
Cash in banks
Total cash
Ncgotioblc ocrtifioatcs of depooit
Local Agency lnvestment Fund (LAIF)
CAM investment pool
Money market mutual funds
Authorized lnvestment Type
Maximum
Maturity
Maximum
Percentage of
Portfolio *
Maximum
lnvestment in
one lssuer
U.S. Treasury obligations
U.S. Governnrent Spotrsored Agency securities
Certificates of deposit or time deposits
Negotiable certificates of deposit
Local Agency lnvestment Fund (LAIF)
Medium-term corporate notes
Money Market Mutual Funds
5 years
5 years
5 years
5 years
N/A
5 years
N/A
None
None
30%
3oo/o
None
30%
20%
None
None
None
None
$75 million
None
None
* Excluding amounts held by bonded trustee that are not subject to California Government Code restrictions.

The City complies with the provisions of California Government Code (or the City's investment policy, where more restrictive) pertaining to the types of investments held, institutions in which deposits were made and security requirements. The City will continue to monitor compliance with applicable statues pertaining to public deposits and investments.
29 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 2: CASH AND INVESTMENTS (continued)
lnvestments Authorized bv Debt Aqreements
lnvestment of debt proceeds held by bond trustee are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the Agency's investment policy. The table below identifies the investment types that are authorized 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.

Authorized lnvestment Type
Maximum
Maturity
Maximum
Percentage of
Portfolio
Maximum
lnvestment in
one lssuer
U.S. Treasury obligations
U.S. Agency securities
Money market funds rated "AAm" or "AAm-G"
Certificates of deposit
Guaranteed investment agreements
Commercial Paper rated 'A-1+" or better
State municipal bonds
Bankers acceptances rated "A-1+" or better
Local agency investment fund (LAIF)
None
None
None
None
None
None
None
None
None
None
None
None
None
None
None
None
None
None
None
None
None
365 days
None
270 days
None
365 days
None
lnvestment Valuation
lnvestments are measured at fair value on a recurring basis. Recurring fair value measurements are those that Governmental Accounting Standards Board (GASB) Statements require or permit in the statement of net position at the end of each reporting period. Fair value measurements are categorized based on the valuation inputs used to measure an asset's fair value: Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs, Level 3 inputs are significant unobservable inputs. lnvestments' fair value measurements are as follows at June 30,2022:

Fair Value Measurements Usinq
lnvestments Level I Inputs Level 2 inputs Level 3 inputs FairValue CAM investment pool
Negotiable certificates of deposit
Held by fiscal agent:

Money market mutual funds
Total lnvestments
$ 1,434,981 $

8.471.577
$ 9,906.558
$ $ 1,434,981
1,480,788
8,471.577
$: $1].39rc
1,480,788
-
s 1.480.788
lnvestment in State lnvestment Pool
The City is a voluntary participant in the Local Agency lnvestment Fund (LAIF) that is regulated by the California Government Code under the oversight of the Treasurer of the State of California. The fair 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 portfolio (in relation to the amortized cost of that portfolio). The balance available forwithdrawal is based on the accounting records maintained by LAIF, which is recorded on an amortized cost basis. The investment balance of $21,090,814 is not subject to valuation on a recurring basis. 30 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 2: CASH AND INVESTMENTS (continued)
Disclosure Relatinq to lnterest Rate Risk
lnterest 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's interest rate risk is mitigated is by purchasing a combination of shorter term and longer term investments and by timing cash flows from 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. lnformation about the sensitivity of the fair values of the City's investments (including investments held by bond trustee) to market rate fluctuations is provided by the following table that shows the distribution of the City's investments by maturity as of June 30,2O22:

Remaininq Maturitv (in yearsl
12 months or less l-5 years Fair Value
$ 1,434,981 $
250,000
21,090,814
CAM investment pool
Negotiable certificates of deposit
Local Agency lnvestment Fund (LAIF)
Held by fiscal agent:

Money market mutual funds
1,230,788
1,434,981
1,480,788
21,090.814

8.47',t.577
$

8.471.577
q a12na72 egll s@
lnvestments with l-air Values I liohlv Sensitive to lnterest Rate l-luctuations The City had no investments (including investments held by bond trustees) that were highly sensitive to interest rate fluctuations as ofJune 30,2022.

Disclosures Relatinq 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 investment policy, or debt agreements, and the actual rating as of the fiscal year for each investment type.

Rating as of Fiscal Year End
Total s&P Moody's N/A
CAM investment pool
Negotiable certificates of deposit
Local Agency lnvestment Fund (LAIF)
Held by fiscal agentr
Money market mutual funds
$ 1,434,981
1,480,788
21,090,814
Not rated
Not rated
Not rated

8.471.577 AAAm Aaa-mf
$ 32.478.160
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. There were no investments in any one issuer (other than mutual funds and external investment pools) that represented 5% or more of total City investments. 31 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 2: CASH AND INVESTMENTS (continued)
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.9. 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 investment 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 government unit). The market value of the pledged securities in the collateral pool must equal at least 110o/o ol the total amount deposited by the public agencies. California law also allows financial institutions to secure City's deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits.

As of June 30,2022, the carrying amount of the City's deposits was $15,991,256 and bank balances were $15,910,828.

The City's deposits with financial institutions in excess of federal depository insurance limits were held in collateralized accounts.

NOTE 3: LOANS RECEIVABLE
Loans receivable of at June 30, 2022 were comprised of the following:

Low-income housing loans
Down payment assistance loan program
BEGIN program loans
Affordable housing project - (Note 12)
3,074 $
5,477
4,303
(15,082) $
(51,469)
(66,913)
642.600
Balance Additions /
Julv 1,2021 lnterest
Adjustments /
Deletions
Balance
June 30, 2022
228,726
733,625
438,126
642.600
$ 240,734 $
779,617
500,736
Total Loans $ 1.521.087 $ 12.854 $ 509.136 S 2.043.077
-:-
Low lncome Housing Loans
At June 30,2022, the City was owed $228,726 from various non-interest and low-interest bearing low income housing loans, secured by deeds of trust. Maturities vary according to terms and disposition of property.

Down Pavment Assistance Loan Proqram
At June 30, 2022, the City was owed $733,625 under the provisions of the Down Payment Assistance Loan Program, which provides non-interest and low-interest loans to low and moderate income first-time home buyers for down payments required to purchase a new or existing home in the City. The loans are secured by deeds of trust and are recorded against the subjected property.

BEGIN Prooram Loans
At June 30, 2022, the City was owed $438, 1 26 under the provisions of the Building Equity and Growth in Neighborhoods loan program, which provides non-interest and low-interest bearing loans to low and moderate income first-time home buyers to purchase a new homeowner unit in a BEGIN Program project within the City. The loans are secured by deeds of trust and liens are recorded against the subjected property at no lower than second position.

Affordable Housinq Proiect
At June 30,2022, the City was owed $642,600 under the provisions of the Affordable Housing Project, with the purpose to construct affordable housing consisting of an 81 unit apartment complex within the City. The loan is secured by the property and a deed of trust and assignment of rents.
32 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 4: INTERFUND TRANSACTIONS
Due To/From Other Funds
Current interfund balances arise in the normal course of business are are expected to be repaid shortly after the end of the fiscal year.

Receivable Fund Payable Fund Description Amount
Maior Governmental Funds
General Fund
lnterfund Translers to/from Other Funds
Transfers between funds during the fiscal year ended June 30, 2022 were as follows:

Transfer From Transfer To Description of Transfer
Maior Governmental Funds
General Fund Developer Fees Fund Adjust restricted impact fees $ 55,336 Transportation and Street Maintenance
Landscape and Lighting
JFK Park LWFC Grant
State Grants
EDA Grant
Private Grants
State Homeland Security Grant
Community Development Block Grant
Sanger Financing Authority
Federal Grants
Transportation Equity Act
Deficit cash
Deficit cash
Deficit cash
Deficit cash
Deficit cash
Deficit cash
Deficit cash
Deficit cash
Deficit cash
Deficit cash
Deficit cash
balance
balance
balance
balance
balance
balance
balance
balance
balance
balance
balance
33,460
3,368
17,761
1,876,608
123,750
60,000
23,839
33,489
123,894
126,704
498.112
$
Total General Fund $ 2.920.985
nt
Non-Maior Governmental Funds
State Gas Tax
State Gas Tax
Transportation Equity Act
General Fund
Re-allocate project costs
Re-allocate project costs
75,994
Rn 6?1
Total lnterfund Transfers $ 211.951
33 NOTE 5: CAPITALASSETS
Governmental Activities:

Capital assets not being depreciated
Land
Construction-in-progress
Total capital assets not being
depreciated
Capital assets being depreciated
Buildings and improvements
Machinery and equipment
lnfrastructure
Less accumulated depreciation
Buildings and improvements
Machinery and equipment
lnfrastructure

CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
Balance at
July 1,2021 Additions Retirements Transfers
$ 434,923

1.073.232
$
951 ,765
1 .508.155 951 .765
- $ 434,923
(986.642) 1.038.355
(986.642) 1.473.278
Balance at
June 30, 2022
26,249,152
11,840,882

78.988.460
117.078.494
$ $
Total capital assets being depreciated 1'1 1.665.820 4A26.032 24,677,721
11,115,359

75.872.740
('t1,614,263)
(7,578,374)
(46.411.981)
1,541,004
725,523

2.159.505
(1,032,406)
(950,097)
e304.154\
30,427
956.215
986.642
(12,646,669)
(8,928,471)
(48.716.135)
Total accumulated depreciation (66.004.618) (4.286.657) 1.70.291.2751 Tota! Capital Assets, net 47.169.357 1.091.140 48.260.497 lnternal Service Funds:

Capital assets being depreciated
Machinery and equipment 280.450 280.450
Less accumulated depreciation
Machinery and equipment (280.450) (280.450)
Total Capital Assets, net
TotalGovernmentalGapitalAssets $$SEZ $lg9l.@ $: $Jtry
Depreciation expense in governmental activities for capital assets for the year ended June 30,2022 totaled $4,286,657. Depreciation was charged to functions based on their usage ol the related assets as follows:

Governmental Activities:

Community services
Administrative services
Police department
Fire and emergency services
Development services
Public works
Tolal Governmental Activities Depreciation Expense
$ 217,289
109,809
456,635
475,595
21,919
3,005.410
$ 4.286.657
34 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 5: CAPITAL ASSETS (continued)
Business-type Activities:

Balance at
July 1,2021 Additions Retirements
$
Transfers
Balance at
June 30,2O22
Capital assets not being depreciated
Land
Construction-in-progress
Total capital assets not being
depreciated
Capital assets being depreciated
Buildings and improvements
Machinery and equipment
Less accumulated depreciation
Buildings and improvements
Machinery and equipment
Total accumulated depreciation
Total Gapital Assets, net
$ 1,404,809
805.892
$

40.o44
$ - g 1,404,809
(322.968) 522.968

2.210.701 40.044 (322.968) 1.927 .777
54,663,174

8.487.544
(32,712,657) ('t,42q072)
4577 .'t87\ (380,513)
(37.289.844)
s 28.071.575'-
276,816
339.773
(1.806.585)
-_
$_JlJl9,g52) $:
322.968 6,4.090.275
(34,138,729)
(4,957.700)
....- (39,096.429)
$ - $ 26.921.623
302,454

20.514
55,242,444

8.847.831
Total capital assets being depreciated 63.150.718 616.589 For the year ended June 30, 2022, business-type activity depreciation expense on capital assets was charged as follows:

Water
Sewer
Disposal
Total Business-Type Depreciation Expense
$ 838,647
941,655

26.283
s 1.806.585
35 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 6: LONG-TERM LIABILITIES
A. Governmental Activities
The following is a summary of changes in the governmental activity's long-term liabilities for the fiscal year ended June 30,2022:

Balance at
Julv 1,2021 Additions
$ 1,255,000 $
7,465,000
1,128,826
$ (1,255,000) $
(135,000)
(38,702)
6,697
(3e,000)
(50.501)
7,330,000
1,090,124
16,104,728
(145,e86)
1,384,000
216.277
$-
140,000
38,702
786,606
8,036
35,000

51.889
Current
Portion
261,931

92.355
$ 1.414.519
Balance
Reductions June30,2022
Governmental Activities:

Direct Borrowings and Direct
Placements:
20'13 Lease Revenue Bonds
2020A Lease Revenue Bonds
Add lssuance Premium
2021 Pension Obligation Bonds
Less lssuance Discount
2022 Lease Revenue Bonds
Financed Purchase
Total Direct Borrowings and Direct
Placements
Other liabilities:

Compensated Absences
Claims and Judgments (Note 7)
Total Governmental Activities $ 11.003.990 $ 27.166.882 $(10.954.2s3) $ 27.216.619G 16,104,728
(1s2,683)
1,423,000
10,115.604 17.375.045 (1.511.506) 25.979.143 1,060.233
266.778
692,081
196.305
577,577

9.214.260
(503,864)
(8.938,883)
765,794
471.682
A description of the long-term liabilities related to governmental activities at June 30,2022 follows:

Series 2013 Lease Revenue Bonds
On November 9, 2013, the Sanger Financing Authority issued Series 2013 Lease Revenue Bonds with a face value of $1,320,000. The bonds were issued to finance the acquisition, construction, and installation of capital improvements throughout the City, purchase reserve fund surety bond in lieu of cash funding a reserve fund for the bonds, and pay costs of issuance of the bonds. The bonds had an interest ranging from 2.10o/o - 5.00% were payable semi-annually commencing June 15, 2019. The maturity date of the bonds was June 15,2043. During fiscal year2022, the Series 2013 Lease Revenue Bonds were refunded as part ol lhe 2022 Lease Revenue Bond issuance. Consequently, the bonds have been removed from the City's liabilities as of June 30,2022. 36 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30,2022
NOTE 6: LONG-TERM LIABILITIES (continued)
Series 2020A Lease Revenue Bonds
On September 1,2020, the Sanger Financing Authority issued Series 2020A Lease Revenue Bonds with a face value of $1,128,826. The bonds were issued to finance the costs of improvements to and expansion of the City's fire station; establish a debt service reserve fund; and to pay the costs incurred in connection with the issuance. The bonds bear interest ranging from 3.00% - 4.OO% and are payable semi-annually on February 1 and August 1 of each year, commencing February 1,2021 . The maturity date of the bonds is February 1,2051. The Series 20204 bonds are secured by all the moneys in the reserve fund. The annual debt service requirements to amortize the bonds are as follows:

For the Year
Ending June 30
2023
2024
2025
2026
2027
2028 -2032
2033 -2037
2038 -2042
2043 -2047
2048 - 2051
Principal lnterest Total
$ 140,000
145,000
150,000
155,000
165,000
920,000
1 ,1 1 0,000
1,350,000
1,635,000

1.560.000
$ 291,050
285,450
279,650
273,650
267,450
1,233,650
1,041,300
805,000
513,600
159.000
$ 431,0s0
430,450
429,650
428,650
432,450
2,153,650
2,1 51 ,300
2,155,000
2,148,600

1.719.000
Total $ 7.330.000 $ 5.149.800 $12.479.800
-
Net capitalized premiums on bonds related to the above issuance have been recorded in the amount of $1 ,090,1 24, and netted with the balance of the bonds as presented on the government-wide financial statements. The balance is accreted using the straight line method over the bond term. Net accretion for the year ended June 30, 2022 totaled $38,702.
2021 Pension Oblioation Bonds
During fiscal year 2022, the Sanger Financing Authority issued Series 2021 Pension Obligation Bonds for $19,450,000 as part of an overall strategy to fund the unfunded portion of the City's pension liability. The bonds bear interest ranging from.356% -3.24o/o and are payable semi-annually on January 15 and July 15 of each year, commencing July 15,2022.

The maturity date of the bonds is July 15,2040. The Series 2021 Pension Obligation Bonds are secured by all the moneys in the reserve fund. The bonds were split amongst the governmental and business-type funds. Annual debt service requirements to amortize the governmental portion of the bonds are as follows:

For the Year
Ending June 30 Principal lnterest Total
2023
2024
2025
2026
2027
2028 -2032
2033 -2037
2038 -2041
$ 786,606
790,746
794,886
794,886
811,447
4,272,514
4,566,457

3.287.186
$ 357,844
354,640
349,896
342,738
333,080
1,441,826
874,981
217.436
$ 1,144,450
1,145,386
1,144,782
1,137,624
1,144,527
5,714,340
5,441,438

3.504.622
Total $'16.104.728 $ 4.272.441 $ 20.377.169
-
37 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 6: LONG-TERM LIABILITIES (continued)
Net capitalized discount on the bonds related to the above issuance has been recorded in the amount of $145,986 and netted with the balance of the bonds as presented on the government-wide financial statements. The balance is amortized using the straight-line method over the bond term. Net amortization for the year ended June 30, 2Q22totaled $6,697.

Series 2022 Lease Revenue Bonds
During fiscal year 2022, the Sanger Financing Authority issued Series 2O22 Lease Revenue Bonds in the amount of $1,423,000. The bonds were issued to refinance the 2013 Lease Revenue bonds; and to pay the costs incurred in connection with the issuance. The 2022 Lease Revenue Bonds will provide an average fiscal year savings of $8,200 until final maturity. Total savings are $'169,118 and the net present value savings are $126,781 or 8.91%. The bonds bear an interest rale of 3.25Yo and are payable semi-annually on June '15 and December 15 of each year, commencing June 15, 2022.fhe maturity date ofthe bonds is June 15, 2043. The Series 2022 Lease Revenue bonds are secured by all the moneys in the reserve fund. The annual debt service requirements to amortize the bonds are as follows:

For the Year
Ending June 30 Principal lnterest Total
2023
2024
2025
2026
2027
2028 - 2032
2033 - 2037
2038 - 2042
2043
$ 35,000
53,000
53,000
53,000
53,000
301,000
352,000
400,000

84.000
$ 44,980
35,748
34,344
32,940
31,536
134,964
92,700
43,726

2.226
$ 79,980
88,748
87,344
85,940
84,536
435,964
444,700
443,726

86.226
Total $1.384.000$453.164$1.837.164:

Financed Purchase
ln October 2020, the City entered into a financed purchase agreement for the purchase of a new ambulance. The agreement calls for five equal payments of $57,837 annually which includes an interest rale of 2.75%o. The financed purchase is due October 2O25. The ambulance was delivered to the City during the current year and is included in capital assets at a net book value of $222,315, with accumulated depreciation of 944,463 as of June 30,2022.

For the Year
Endinq June 30 Principal lnterest Total
2023
2024
2025
2026
$ 51,889
53,316
54,783

56.289
$ 5,948
4,521
3,054

1.548
$ 57,837
57,837
57,837

57.837
Total $ 216.277 $ 15.071 $ 231.348
-
38 NOTE 6: LONG-TERM LIABILITIES (continued)
Total Government Activities Future Debt Service
For the Year
Ending June 30

CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
Principal lnterest Total
$2023
2024
2025
2026
2027
2028 -2032
2033 -2037
2038 -2042
2043 - 2047
2048 - 2051
1,013,495
1,042,062
1,052,669
1 ,059, 175
1,029,447
5,493,514
6,028,457
5,037,186
1,719,000

1.560.000
$ 699,822
680,359
666,944
650,876
632,066
2,810,440
2,008,981
1 ,066,162
515,826
159.000
$ 1 ,713,317
1,722,421
1,719,613
't,710,051
1,661,513
8,303,954
8,037,438
6,103,348
2,234,826

1.719.000
Total S25.035.005 S 9.890.476 $34.925.481
-
Compensated Absences
The City's policy relating to compensated absences is described in Note 1. This obligation is expected to be paid in future years from then available resources derived from their respective funds to which the employee services are rendered.
39 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30,2022
NOTE 6: LONG-TERM LIABILITIES (continued)
B. Business-type Activities
The following is a summary of changes in the business-type activity's long-term liabilities for the fiscal year ended June 30,2022:

Balance at
Julv 1,202'l Additions
Balance
Reductions June30,2O22
$ (6,250,000) $
27,081
(3,650,000)
(12,480,000)
(793,609)
3,345,272
12,880,000
6,487,000

3.817.000
1 10) 45,401
Current
Portion
Business-type Activities:

Direct Borrowings and Direct
Placements:
201 3 Subordinate Wastewater
Lease Revenue Bonds
Less lssuance Discount
2013 Water Lease Revenue Bonds
2014 Lease Revenue Refunding
Add lssuance Premium
2021 Pension Obligation Bonds
20224 Wastewater Lease Revenue
Refunding
2022B Wastewater Lease Revenue
Refunding
2O22AWaler Refunding
Total Direct Borrowings and Direct
Placements
Other liabilities:

Compensated Absences
$ 6,250,000 $
(27,081)
3,650,000
12,480,000
793,609
$
(775,000)

23.146.528 27.304.272 Q3.921.5281 26.529,272 '1 .'t 01 .394 3,345,272
13,655,000
6,487,000

3.817.000

33.434
$ 27.337.706
163,394
755,000
135,000

48.000

64.077
$ 23.210.605

44.209
$ 1.145.603Total Business-type Activities $ (23.e73.638) $__20,511.673:

A description of the long-term liabilities related to business-type activities at June 30,2022 follows:
2013 Subordinate Wastewater Lease Revenue Bonds
On November 19, 2013 the Sanger Financing Authority issued Series 2013 Subordinate Wastewater Lease Revenue Bonds with a face value of $6,370,000. The bonds were issued to finance the acquisition, construction and installation of capital improvements and facilities which constitute part of the Wastewater System, purchase a reserve fund surety bond in lieu of cash funding a reserve fund for the bonds and pay costs of issuance of the bonds. The bonds had an interest ranging from 2.55o/o to 5.00% and were payable semi-annually commencing June 15, 2014. The bonds were secured by a pledge of and lien on the net revenues of the City's municipal wastewater enterprise. The maturity date of the bonds was June 15,2043. During fiscal year 2022, the Series 2013 Subordinate Wastewater Lease Revenue Bonds were refunded as part of the 20228 Wastewater Lease Revenue Refunding issuance. Consequently, the bonds have been removed from the City's liabilities as of June 30,2022. 2013 Water Lease Revenue Bonds
On November 19, 2013 the Sanger Financing Authority issued Series 2013 Water Lease Revenue Bonds with a face value of $4,090,000. The bonds were issued to finance the acquisition, construction and installation of capital improvements and facilities which constitute part of the Water System, purchase a reserve fund surety bond in lieu of cash funding a reserve fund for the bonds and pay costs of issuance of the bonds. The bonds had an interest ranging from O.4Oo/o to 5.00% and were payable semi-annually commencing June 15, 2O14.The bonds were secured by a pledge of an lien on the net revenues of the City's municipal water revenues. The maturity date of the bonds was June 15, 2043. During fiscal year 2Q22, the Series 2013 Water Lease Revenue Bonds were refunded as part of the 2022A Water Refunding issuance. Consequently, the bonds have been removed from the City's liabilities as of June 30,2Q22. 40 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 6: LONG-TERM LIABILITIES (continued)
20'14 Lease Revenue Refundino Bonds
On September 1,2014, the Sanger Financing Authority issued Series 2014 Lease Revenue Refunding Bonds with a face value of $16,605,000. The issuance was to refund the outstanding principal balance of the 2006 Series A and B Lease Revenue Refunding Bonds. The City refunded the 2006 bonds to reduce its total debt service payments over 22 years by $1 ,352,124 and to obtain an economic gain (difference between the present values of the debt service payments on the old and new debt) of $999,340. The bonds had an interest ranging lrom 2.0%o to 5.0% and were payable semi-annually commencing June 2015 through June 2036. The payments were secured by a pledge of and lien of net revenues of the City's municipal wastewater enterprise. The maturity date of the bonds was June 15, 2036. During fiscal year 2022, lhe Series 2014 Lease Revenue Refunding Bonds were refunded as part of the 20224 Wastewater Lease Revenue Refunding issuance. Consequently, the bonds have been removed from the City's liabilities as of June 30,2022.
2021 Pension Obliqation Bonds
During fiscal year 2022, the Sanger Financing Authority issued Series 2021 Pension Obligation Bonds for $19,450,000 as part of an overall strategy to fund the unfunded portion of the City's pension liability. The bonds bear interest ranging from .356% - 3.24% and are payable semi-annually on January 15 and July 15 of each year, commencing July 15,2022.

The maiurity ciate oi ihe boncis is juiy i5, 2040. The Series 202i Pension Obiigaiion Boncis are secureci by all the moneys in the reserve fund. The bonds were split amongst the governmental and business-type funds. Annual debt service requirements to amortize the business-type portion of the bonds are as follows:

For the Year
Ending June 30 Principal lnterert Totel
2023
2024
2025
2026
2027
2028 - 2Q32
2033 -2037
2038 - 2041
163,394
164,254
165,114
165,1 14
168,553
887,486
948,543
682.814
$ 74,331
73,666
72,680
71,193
69,1 87
299,496
181,751

45.1 63
$ 237,725
237,920
237,794
236,307
237,740
1 ,1 86,982
1j30294
727.977
$
Total 53.345.272 $ 887.46754.232.739
--
41 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 6: LONG-TERM LIABILITIES (continued)
20224 Wastewater Lease Revenue Refundino Bonds
During fiscal year2O22, the Sanger Financing Authority issued Series 2022AWastewater Lease Revenue Refunding Bonds in the amount of $13,655,000. The bonds were issued to refinance lhe 2014 Lease Revenue Refunding Bonds; and to pay the costs incurred in connection with the issuance. The bonds will provide an average fiscal year savings of approximately $89,500 until final maturity. Total savings are $1 ,165,422, and net present value savings are $976,409, or

7.82%. The bonds bear interest ranging from 2.15o/o lo 2.95% are payable semi-annually on June 15 and December 15 of each year, commencing June 15,2022. The maturity date of the bonds is June 15,2026. The Series 2Q22ALease Revenue Refunding Bonds are secured by a revenue pledge of the City's wastewater system. The annual debt service requirements to amortize the bonds are as follows:

For the Year
Endino June 30 Principal lnterest Total
2023
2024
2025
2026
2027
2028 - 2032
2033 - 2036
$ 755,000
780,000
840,000
855,000
875,000
4,665,000
4,1 10.000
$ 379,960
357,688
243,918
225,858
207,476
746,696
223.602
$ 1 ,1 34,960
1 ,1 37,688
1,083,918
1,080,858
1,082,476
5,411,696

4.333.602
Total $12.880.000 $ 2.385.198 $15.265.198
-
2022B Wastewater Lease Revenue Refundino Bonds
During fiscal year 2022, the Sanger Financing Authority issued Series 20228 Wastewater Lease Revenue Refunding Bonds in the amount of $6,487,000. The bonds were issued to refinance the 2013 Subordinate Wastewater Lease Revenue Bonds; and to pay the costs incurred in connection with the issuance. The bonds will provide an average fiscal year savings of approximately $61,500 until the final maturity. Total savings are $1 ,250,445, and net present value savings are $901,310, or 14.4o/o. The bonds bear interest ranging from 2.96% to 4.05% are payable semi-annually on June 15 and December 15 of each year, commencing June 15, 2022. The maturity date of the bonds is June 15,2043.

The Series 20228 Wastewater Lease Revenue Refunding Bonds are secured by a revenue pledge of the City's wastewater system. The annual debt service requirements to amortize the bonds are as follows:

For the Year
Ending June 30 Principal lnterest Total
2023
2024
2025
2026
2027
2028 -2032
2033 - 2037
2038 - 2042
2043
$ 135,000
189,000
195,000
244,000
254,000
1,429,000
1,677,000
1,941,000
423.000
$ 283,158
188,020
182,424
176,652
169,430
728,308
501,870
238,606,t2.520
$ 418,158
377,020
377,424
420,652
423,430
2,157,308
2,178,870
2,1 79,606
435.520
Total $6.487.000$2.480.988$8.967.988
-:
42 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 6: LONG-TERM LIABILITIES (continued)
20224 Water Refundinq Bonds
During fiscal year 2022, the Sanger Financing Authority issued 2022 Water Refunding Bonds in the amount of $3,817,000. The bonds were issued to refinance the 2013 Water Lease Revenue Bonds and to pay the costs incurred in connection with the issuance. The bonds will provide an average fiscal year savings of approximately $27,000 until final maturity. Total savings are $543,695, and net present value savings of $379,726, or 10.4o/o. The bonds bear interest ranging lrom 3.22Yo to 4.09% are payable semi-annually on June 1 5 and December 1 5 of each year, commencing June 15, 2022. The maturity date of the bonds is June 15, 2043. The Series 2022 Water Refunding Bonds are secured by a revenue pledge of the City's water system. The annual debt service requirements to amortize the bonds are as follows:

For the Year
Ending June 30 Principal lnterest Total
2023
2024
2025
2026
2027
2028 -2032
2033 -2037
2038 -2042
2043
48,000
119,000
120,000
125,000
't30,000
717,OOO
1,026,000
1,255,000
277.000
$ 168,258
121,664
117,822
1 13,948
109,914
483,618
351,722
168,758

8.942
$ 216,258
240,664
237,822
238,948
239,914
1 ,200,618
1,377,722
1,423,758
285.942
$
Total $ 3.817.000 $ 1.644.646 $ 5.461.646
---
Total Business-Tvoe Activities Future Debt Service
For the Year
Endinq June 30 Principal lnterest Total
2023
2024
2025
2026
2027
2028- 2032
2033-2037
2038 -2042
2043
1 ,1 01 ,394
1,252,254
1,320,114
1,389,'114
1,427,553
7,698,486
7,761,543
3,878,814
700,000
$ 905,707
741,038
6'16,844
587,651
556,007
2,258,118
1,258,945
452,527
21,462
$ 2,007,101
1,993,292
1,936,958
1,976,765
1,983,560
9,956,604
9,020,488
4,331,341
721.462
$
Totaf $26.529.272 $ 7.398.299 $33.927.571
Compensated Absences
The City's policy relating to compensated absences is described in Note 1. This obligation is expected to be paid in future years from then available resources derived from their respective funds to which the employee services are rendered.
43 CIry OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 7: RISK MANAGEMENT
The City is exposed to various risks and losses related to torts; theft or, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disaster. Risk of loss is primarily handled through the Central San Joaquin Valley Risk Management Authority (CSJVRMA). CSJVRMA is a consortium of fifty-four (54) cities in the San Joaquin Valley, California. lt was established under the provisions.of California Government Code Section 6500 et seq. Central San Joaquin Valley Risk Management Authority is governed by a Board of Directors, which meets 3-4 times per year, consisting of one member appointed by each member city. The day-to-day business is handled by a management group employed by CSJVRMA. lt is not a component unit of the City.

A. General Liabilitv lnsurance
Annual deposits are paid by member cities and are adjusted retroactively to cover costs. Each member city has a specific retention level. The City has a retention level of $50,000 and pays 100% of all losses incurred under $50,000.

The City does not share or pay for losses of other cities under $50,000. Losses of $50,000 to $500,000 are prorated among all participating cities on a payroll basis. Losses in excess of $500,000 are covered by excess insurance purchased by the participating cities, as a part of the pool, to a limit of $5 million. This cost is also prorated on a payroll basis.

B. Workers Compensation
Annual deposits are paid by member cities and are adjusted retroactively to cover costs. Each member city has a specific retention level. The City has a retention level of $50,000 and pays 100% of all losses incurred under$50,000.

The City does not share or pay for losses of other cities under $50,000. Losses of $50,000 to $500,000 are prorated among all participating cities on a payroll basis. Losses in excess of $500,000 are covered by excess insurance purchased by the participating cities, as a part of the pool, to a limit of $5 million. This cost is also prorated on a payroll basis.

Actual surpluses or losses are shared according to a formula developed from overall loss costs and spread to member entities on a percentage basis after a retrospective rating. The following provides a reconciliation of claims and judgments.

June30,2022 June30, 2021
Claims Payable - Workers' Compensation
Beginning Balance
lncurred
Paid
Ending Balance
Claims liability - current
Claims liability - non-current
TotalClaims Liability
$ 196,305 $
9,214,260
(8,938.883)
422,355
4,292,213
(4,518,263)
92,355
379,327
$
$JJ@ $ 196.305
$ 114,939
81,366
44 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 8: FUND BALANCE
The following classifications describe the relative strength of the spending constraints of fund balance:

Nonsoendable: Amounts that cannot be spent because they are either (a) not in spendable form (not expected to be converted to cash) or (b) legally or contractually required to be maintained intact.

Restricted: Amounts subject to externally enforceable legal restrictions or constrained for a specific purpose by external parties, constitutional provision, or enabling legislation. This fund balance type is essentially the same definition as restricted net position under GASB Statement No. 34.

Committed: Amounts that can only be used for specific purposes pursuant to constraints imposed by the formal action of the government's highest level of decision-making authority. Committed amounts cannot be used for any other purpose unless the government removes or changes the specified use by taking the same type of action (legislation, resolution, ordinance) it employed to previously commit those amounts. Action to constrain resources must occur prior to year-end; however, the amount can be determined in the subsequent period. The City Council establishes (and modifies or rescinds) fund balance commitments by passage of an ordinance.

Assioned: Amounts that are not restricted by the funding agency but are for specific purposes and assigned by City Council for that purpose. City Council's action in creating the fund is to ensure that the funds are used for their intended purpose. That purpose is not always planned for the current fiscal year as it may take several years to build up a sufficient fund balance to be able to implement the stated purpose. This classification also represents all remaining amounts (except negative balances) reported in governmental funds, other than the general fund, that are not classified as non spendable, restricted, or committed.

Unassiqned: Residual amounts in the general fund, not classified as non spendable, restricted, committed, or assigned Fur utlrer guverrrnrerrtal fund types, utrassigtred is ottly used wlretr a deficit or negative fund balance occurs.

The accounting policies of the City consider restricted fund balance to have been spent first when an expenditure is incurred for the purposes for which both restricted and unrestricted fund balance is available. Similarly, when an expenditure is incurred for purposes forwhich amounts in any of the unrestricted classifications of fund balance could be used, the City considers committed amounts to be reduced first, followed by assigned amounts, as appropriate opportunities arise, but reseryes the right to selectively spend unassigned resources flrst to defer the use of these other classified funds.

It is the policy of the City Council to maintain a General Fund restricted reserve for catastrophic events and emergency situations. The restricted reserve shall be 25% oI the average prior three years'total general fund expenditures less any expenditures related to a debt-funded capital improvement project. The General Fund restricted reserve may only be used for emergencies designated by a vote of four-fifths of the City Council and the reserve account cannot be used to fund or supplement operating expenses.
45 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 8: FUND BALANGE (continued)
As of June 30,2022, fund balances were comprised of the following:

General Fund
Measure S
Dlstrict Sales
Tax
State Grants
Fund
Sanger
Financing
Authority
Non-Major
Governmental
Funds
Total
Governmental
Funds
Nonspendable
Land held for resale
Total Nonspendable
Restricted
Deposits
Streets
Capital projects
Police services
Fire services
Affordable housing
Community service
Debt service
Total Restricted
Committed
Emergency
contingencies
Total Committed
Unassigned
c
235,330
1,374,978
1,374,977
r-35330 27i6558

3.409.965

3.409.965

4.807.691
c $-712.@q
712.000
e $_712.@9
7't2.000

8.338.992
8,338.992
5,161,063
3,447,051
263,356
51,654
704,155
321,008
9,948.287
235,330
5,161,063
3,447,O51
263,356
't,42q632
2,079,132
321,008

8.338.992

21.272.564
- -

3.409.965
.r-
-

3.409.965
('l .893.315) (969,745) 1.944.631
$ 27.339.'t60'+Total Fund Balance $ 8,452,986 $ 2,749,955 $ (1 ,893.315) $ 8.338.992 $ 9.690.542G -:

Fund Balance/Net Position Deficits
As of June 30,2022, the following funds had a fund deficit/net position:

Fund Deficit
Major Funds:

State Grants
Sewer
Non-Major Funds:

Transportation Equity Act (TEA) 21 Grant
Economic Development Administration (EDA) Grant
Federal Grants
Private Grants
State Homeland Security Grants
$ 1,893,315
509,874
660,735
123,750
127,854
40,000
17,406
These deficits were a result of expenditures incurred in advance of receipt of revenue and will be eliminated through future revenues.
46 CIry OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 9: DEFINED BENEFIT PENSION PLAN
A. General lnformation about the Pensions Plan
Plan Descriotion
All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing Multiple-Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees' Retirement System (CalPERS.) The Plan consists of individual rate plans (benefit tiers) within a safety risk pool (police and fire) and a miscellaneous risk pool (all other.) Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous pools. Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under GASB Statement No. 68. lndividual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The City sponsors seven plans (two miscellaneous and five safety). Benefit provisions under the Plan are established by State slatute and City resolution. CaIPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions and membership information that can be found on the CaIPERS website.

Benefits Provided
CaIPERS 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 --.:^L -r-r..r^-:1..one year ot tuil Ume emptoyntent. tvleiltucts wil.il ilve yEats ur tutat sgrvluE arts Elrgrurc r.u rcurs dr. crgE ou wlil srdruruilry 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, orthe Optional Settlement 2W Death Benefit.

The cost of living adjustments for each plan are applied as specified by the Public Employee's Retirement Law.

The rate plan provisions and benefits in effect at .lttne 3n, ?O2? , are sttmmarized as follows:

Hire Date
Benefit Formula
Benefi t Vesting Schedule
Benefit Payments
Retirement Age
Monthly Benefits, as a % of Eligible
Compensation
Required Employee Contribution Rates
Required Employer Contribution Rates*
Hire Date
Benefit Formula
Benefit Vesting Schedule
Benefit Payments
Retirement Age
Monthly Benefits, as a o/o of Eligible
Compensation
Required Employee Contribution Rates
Required Employer Contribution Rates*
Prior to January 1,2013 On orAfterJanuary 1,2013
PEPRA

2.0% @62
5 years service
monthly for life
52 and up

1.OVo - 2.5o/o

6.75%

8.01%
Tier I
2-Oo/o @ 55
5 years service
monthly for life
50 and up

1.426Yo lo 2.418%

7.960/o

51.57Yo
Safety - Police
Prior lo January 1,2013 On orAfter Januarv 1, 2013
Tier I

2.0o/o @ 5O
5 years service
monthly for life
50 and up

2.0 o/o lo 2.7o/o

9.00%

38.43o/o
PEPRA

2.7o/o @ 57
5 years service
monthly for life
50 and up

2.0 o/o lo 2.7o/o

13.00%

13.96%
47 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30,2022
NOTE 9: DEFINED BENEFIT PENSION PLAN (continued)
Hire Date On or After September
11 2008
Tier I
Benefit Formula 3.0% @ 55
Benefit Vesting Schedule 5 years service
Benefit Payments monthly for life
Retirement Age 50 and up
Monthly Benefits, as a Vo of Eligible
Compensation 2.0 % lo 2.7%
Required Employee Contribution Rates N/A
Required Employer Contribution Rates* N/A
Proportion - June 30, 2020
Proportion - June 30, 2021
Change - lncrease (Decrease)
Safetu - Fire
On or After October 1,
1 985
On or After January 1,
2013
*The employer contribution rate is the sum of the Plan's employer normal cost rate plus the employer unfunded accrued liability.

Contributions
Section 20814(c) of the California Public Employees' Retirement Law requires that the employer contribution rales 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 CaIPERS. 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. The City's contributions to the Plan for the year ended June 30,2022 were 921 ,802,442.

B. Pension Liabilities, Pension Expense, and Deferred Outflows/lnflows of Resources Related to Pensions As of June 30, 2022, the City reported a net pension liability for its proportionate share of the net pension liability of the Plan of $12,784,201 . $8,345,526 of the liability is reported in governmental activities, while $4,438,675 of the liability is reported in business-type activities.

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 30,2021 , and the total pension liability forthe Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2O2O rolled fonrvard to June 30, 2021 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 the measurement periods June 30, 2O2O and June 30, 2021 was as follows:

Tier ll

3.0% @ 55
5 years service
monthly for life
50 and up

2.Q o/o to 2.7Yo

9.00%

39.68%

0.20221%

0.23638 %
_0.03417-%
PEPRA

2.7o/o @ 57
5 years service
monthly for life
50 and up

2.0%1o2.7%

12.00%

14.08%
48 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30,2022
NOTE 9: DEFINED BENEFIT PENSION PLAN (continued)
For the year ended June 30, 2022, lhe City recognized pension expense of $3,448,625. At June 30, 2022, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred
Outflows of
Resources
Deferred
lnflows of
Resources
Pension contributions subsequent to the measurement date Difference between actual contributions made by employer and the employer's proportionate share of the risk pool's total contribution Differences between actual and expected experience
Changes in assumptions
Net differences between projected and actual earnings on plan investments $ 21,802,442 $
344,710
1,761 ,583
525,505
790,669
833,366

9.608.306
Total s 24.434.240 S 11.232.341
-
$21 ,802,442 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 30,2023. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Year Ended June 30.
2423
2024
2025
2026
$ (1,758,757)
(1,e59,907)
(2,232,503)
(2,651,376)
Actuarial Assumptions
The total pension liabilities in the June 30, 2O2O actuarial valuations were determined using the following actuarial assumptions:

Miscellaneous & Safetv Plans
Valuation Date
Measurement Date
Actuarial Cost Method
Actuarial Assumptions:

Discount Rate
lnflation
Salary lncreases
lnvestment Rate of Return
Mortality (1)
Post Retirement Benefit lncrease
June 30, 2020
June 30, 2021
Entry-Age Normal Cost Method

7.15%

2.50%
Varies by Entry Age and Service

7.15% nel of pension plan investment expenses; includes inflation
Derived using CaIPERS membership data for all funds
Contract COLA up lo 2.50% until purchasing power
protection allowance floor on purchasing power applies,

2.50% thereafter
(1)The mortality table used was developed based on CaIPERS'specificdata. The table includes 15 years of mortality improvements using Society of Actuaries 90 percent Scale MP 2016. For more details on this table, please refer to the December 2017 experience study report (based on CaIPERS demographic data from 1997 to 2015) available on CaIPERS website.

All other actuarial assumptions used in the June 30,2O2O valuation were based on the results of an actuarial experience 49 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30,2022
NOTE 9: DEFINED BENEFIT PENSION PLAN (continued)
study for the fiscal years 1997 to 2015, including updates to salary increases, mortality and retirement rates. The Experience Study report can be obtained at CaIPERS'website under Forms and Publications.

Chanqes in Assumptions
Forthe measurement period June 30,2021, there were no changes in assumptions.

Discount Rate
The discount rate used to measure the total pension liability was 7.15 percent. The projection of cash flows used to determine the discount rate assumed that contributions from plan members 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, the Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments lo determine the total pension liability.

Lono-term Expected Rate of Return
The long-term expected rate of return on pension plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.
ln determining the long-term expected rate of return, CaIPERS took into account both short-term and long-term market return expectations as well as the expected pension fund (PERF) cash flows. Using historical returns of all of the funds' asset classes, expected compound (geometric) returnswere calculated overthe short-term (first 10 years) and the long- term (11+ years) using a building-blockapproach. Usingtheexpected nominal returnsforboth short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses.

The table below reflects long{erm expected real rates of return by asset class. The rates of return were calculated using the capital market assumptions applied to determine the discount rate and asset allocation. These geometric rates of return are net of administrative expenses.

Asset Class
Assumed Asset
Allocation
Real Return
Years 1-10 (a)
Real Return
Years 1l+ (b)
Public Equity
Fixed lncome
lnflation Assets
Private Equity
Real Estate
Liquidity

50.0%

28.0%
O.Oo/o

8.0%

13.0%

1.0%

4.80o/o

1.OOo/o

0.770

6.30%

3.75%

0.00%

5.98%

2.620/o

1.81o/o

7.23o/o

4.93o/o
(o.92vo)
(a) An expected inflation of 2.0% used for this period
(b) An expected inflation of 2.92% used for this period 50 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 9: DEFINED BENEFIT PENSION PLAN (continued)
Sensitivitv of the Proportionate Share of ihe Net Pension Liabilitv to Chanoes in the Discount Rate The following presents the City's proportionate share of the net pension liability for the Plan, calculated using the discount rate for the 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 higherthan the current rate:

Discount Rate -l% Current Discount Discount Rate +1%
(6.15%) Rate (7.15%) (8.15%)
Net Pension Liability $ 24,220,839 $ 12,784,201 $ 3,365,753 Pension Plan Fiduciarv Net Position
Detailed information about the pension plan's fiduciary net position is available in the separately issued CaIPERS financial reports.

NOTE '10: EXCESS EXPENDITURES AND TRANSFERS OVER APPROPRIATIONS The following funds incurred expenditures and transfers rn excess ot appropnatrons rn the tollowing amounts tbr the year ended June 30,2022:

Fund
Excess
Expenditures
Major Funds:

Sanger Financing Authority
Non-Major Funds:

State Gas Tax
Landscape and Lighting
Developer Fee
Supplemental Law Enforcement Grant
Community Facilities District
SWRCB
$ 17,407,063
4,478
142,767
33,462
14,885
80,111
36,1 08
The excess expenditures were covered by available fund balance in the funds and/or future revenues.

NOTE 11: CONTINGENCIES AND COMMITMENTS
Grant Awards
The City participates in certain federal and state assisted grant programs. These programs are subject to program compliance audits by the grantors or their representatives. Any liability for reimbursement which may arise as the result of these audits is not believed to be material.

Litiqation
The City is involved in several pending lawsuits of a nature common to many similar jurisdictions, with the exception of litigation described below. City management estimates that potential claims against the City, not covered by insurance, will not have a material adverse effecton the financial statements of the City. 51 CITY OF SANGER

NOTES TO THE FINANCIAL STATEMENTS
JUNE 30,2022
NOTE I2: PRIOR PERIOD ADJUSTMENTS
The City discovered a deferred loan that was not recorded in the Sanger Financing Authority Fund for $642,600. As the loan was deferred, the balance was recorded to notes receivable and unavailable revenues. There was no impact to fund balance.

Consequently, the Statement of Net Position's beginning net position was restated by the following:

Net Position
as
Previously Net Position,
RestatedDescription of Restatement Restatement
Governmental Activities Correction of notes receivable $re $-..']814Q@ $..']Z1]942gl NOTE l3: FIDUCIARY FUND DISCLOSURES
The City is acting in a fiduciary capacity for the assets and liabilities of the Successor Agency of the former Redevelopment Agency of the City of Sanger and the South Kinds Groundwater Sustainability Custodial Fund.

Disclosures related to these transactions are as follows:

A. Gapital Assets
Capital asset activity for the year ended June 30,2022 was as follows:

Balance at
Julv 1,2O21 Additions
Balance at
June 30,2022
Capital assets not being depreciated
Construction in progress
Capital assets being depreciated
lmprovements
Less accumulated depreciation
lmprovements
$ $ 43,270 $ $ 43,270
13 51913.519
(13.029) (490) (13.519)
Total Capital Assets, net $ 490 S 42.780
-
a $-g!4
NOTE 14: SUBSEQUENT EVENTS
Events occurring after June 30, 2022 have been evaluated for possible adjustments the financial statements or disclosure as of February 4,2025, which is the date these financial statements were available to be issued. 52 REQUIRED SUPPLEMENTARY INFORMATION

CITY OF SANGER

GENERAL FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budqeted Amounts
Oriqinal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Negative)

REVENUES
Taxes
Licenses and permits
lntergovernmental
Fines and forfeitures
lnvestment income (loss)
Charges for services
Other revenues
Total Revenues

EXPENDITURES
Current:

City Council
Community services
Police department
Fire and emergency services
Development services
Public works
Nondepartmental
Capital outlay
Debt service:

Principal
lnterest and fiscal charges
$ 10,789,000
351,000
118,200
202,900
31,800
4,241,700
206.1 00
$ 12,006,200
351,000
261,200
202,900
31,800
2,351,500
206.1 00
$ 12,570,756 $ 564,556
229,756 (121,244)
156,024 (105,176)
284,722 81,822
(4,855) (36,655)
2,323,500 (28,000)
321.457 1 15.357
15,940,700 15,410,700 15.881.360 470,660
264,600
505,300
5,963,000
10,068,200
1,374,800
1,401,500
20,700
55,600
279,800
512,300
5,973,000
5,268,200
1,442,300
1,426,100
1 02,1 00
669,500
263,360
533,399
5,718,562
4,460,402
1,',t42,773
1,343,341
81,491
140,559
16,440
(21,099)
254,438
807,798
299,527
82,759
20,609
528,941
Total Expenditures 20.168.900 16.188.500 14.403.410
Excess (deficiency) of revenues over expenditures U.228.200) (777.8001 1.477.95Q 160,000
355.200
160,000
355.200
173,999
545.524
(13,see)
(190.324)

1.785.090

2.255.750

OTHER FINANCING SOURCES (USES)
Proceeds from bond issuance
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 30,2022
(287.000)
(287.000)
$ u.228.200) $ (1.064.800):
100,295
80,621
(55.336)
100,295
80,621
231.664
412.580
$ 2.668.330'@
125.580

1.603.530

6.849.456
$ 8.452.986'-
53 CITY OF SANGER

MEASURE S DISTRICT SALES TAX - MAJOR SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budqeted Amounts
Original Final
Actual
Amounts
Variance
with Final
Budget
Positive
{Neqative)

REVENUES
Taxes
lnvestment income (loss)
Total Revenues

EXPENDITURES
Current:

Police department
Fire and emergency services
Capital outlay
Debt service:

Principal
lnterest and fiscal charges
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June3O,2022
$ 2,861,000 $ 2,861,000 $ 3,449,794 $

5.700 5.700 (760)
1,508,900
862,400
564,600
1,508,900
867,400
962,414
1,442,685
849,794
647,053
50,501

29.617

3.019.650
429.384

2.320.571
$ 2.749.955'-
588,794
(6.460)
66,215
17,606
315,361
(50,501)
(29.617)
319.064
s 901.398'-

2.866.700 2.866.700 3.449.034 582.334

2.935.900 3.338.714
s_Jgg3qq) $J3Aq4
54 CITY OF SANGER

STATE GRANTS - MAJOR SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budqeted Amounts
inal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Nesative)

REVENUES
lntergovernmental
Total Revenues

EXPENDITURES
Current:

Administrative services
Police department
Development services
Capital outlay
Total Expenditures
Net change in fund balance
Fund Balance (Deficit) - July 1,2021
Fund Balance (Deficit) - June 3O,2022
$ 2.771.600

2.771.600
$-2J2L099

2.771.600
$_5€,262

56.262
$Jzfl-gi!3g)
(2.715.338)
81,400
148,800
700.000
930.200
$ 1.841.400'-
81,400
148,800
700.000
930.200
$-l,9Ll-399
110,523
80,982

66.850
81,400
38,277
(80,982)
633,1 50
258.355 671.845
{202.093) $ (2.043.493)'-,

1.691.222\
$ (1.893.315)'-,
55 CITY OF SANGER

SANGER FINANCING AUTHORITY - MAJOR DEBT SERVICE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Oriqinal Final
Actual
Amounts
Variance
with Final
Budget
Positive

REVENUES
lnvestment income
Total Revenues

EXPENDITURES
Current:

Administrative services
Debt service:

Principal
lnterest
Total Expenditures
Excess (deflclency) of revenues over expenditures

OTHER FINANCING SOURCES (USES)
Proceeds from bond issuance
Total Other Financing Sources (Uses)
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 30,2022
$_l!g
100
$_100
,t00
$_9,e53

8.953
$ 8.853

8.853
100
$_l4g
15,749,728
1,255,000
402,335

17.407.063
{17.398.1 10)
(15,749,728)
(1,255,000)
(402.335)
(17.407.063)
(17.398.210)100
$_100

17.427.433

17.427.433

29.323

8.309.669
s 8.338.992

17.427.433

17.427.433
$ 29.223
56 CITY OF SANGER

NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

BUDGETARY ACCOUNTING AND CONTROL
FOR THE YEAR ENDED JUNE 30, 2022
The City uses the following procedures annually to establish the budget data reflected in the budgetary comparison schedules:
1) The City Manager submits to the City Council a proposed budget for the fiscal year commencing the following July 1. The budget includes proposed expenditures and the means of financing them.

The City Council reviews the proposed budget at specially scheduled sessions, which are open to the public.

The Council also conducts a public hearing on the proposed budget to obtain comments from interest persons.

Prior to July 1, the budget is legally adopted through passage of a resolution. This budget is reported as Original Budget in the budgetary comparison schedules.
4) During the fiscal year, changes to the adopted budget may be authorized as follows:
a. ltems requiring City Council action - appropriation of fund balance reserves; transfers of appropriations between funds; appropriation of any nondepartmental revenue; new interfund loans or advances; and creation of new capital projects or increases to existing capital projects. b. ltems delegated to the City Manager - transfers between departments within funds; appropriation of unbudgeted departmental revenues; and approval of transfers which increase salary and benefit appropriations.
c. ltems delegated to department heads - allocation of departmental appropriations to line item levels. 5) Formal budgetary integration is employed as a management tool for all funds. Annual budgets are legally adopted and amended as required for the General Fund, certain Special Revenue Funds, and Enterprise Funds. Prolect length budgets are adopted for the capital project funds. All budgets are prepared on a basis consistent with generally accepted accounting principles (GAAP), and budgetary comparison information. A debt service payment schedule for the debt service funds is also approved as part of the budget process. 6) Budget amounts are reflected after all authorized amendments and revisions. This budget is reported as the Final Budget in the budgetary comparison schedules.
7) For each legally adopted operating budget, expenditures may not exceed budgeted appropriations at the activity level. The legal appropriation basis is at the level called "department." A "department" for legal appropriation purposes may be a single organization, or an entire department having multiple organizations within the same fund, or an entire fund.
2)
3)
57 CITY OF SANGER

REQUIRED SUPPLEMENTARY INFORMATION

SCHEDULE OF THE CITYS PROPORTIONATE SHARE OF HE NET PENSION LIABILITY Prepared for the City's Miscellaneous and Safety Plan, a Gost Sharing Defined Benefit Pension Plan As ofJune 30,2022
Last l0 Yeans *
Measurement Period
2021 2020 2019 2018 2017 2016 2015 2014

0.236380 % 0.202210 o/o 0.2O714O o/o 0.217500 tt/o 0.216440 o/o 0.224160 o/o 0.236935 % 0.225898 o/o Proportion of the net pension
liability
Proportionate share of the net
pension liability
Covered payroll
Proportionate share of the net
pension liability as a
percentage of covered payroll
Plan fiduciary net position as a
percentage ofthe total pension
liability
$ 12,784,201
$ 7,452,075
$ 22,001,602
$ 7,517,297
$ 21,225,446
$ 7,194,486
$ 20,959,27'l
$ 7,029,487
$ 21,464,892
$ 6,525,459
$ 19,396,522
$ 5,713,477
$ 16,263,015
$ 5,552,266
$ 14,056,482
$ 5,645,1 1 1
171.55 % 292.68 o/o 295.02 To 298.16 "/o 328.94 o/o 339.49 Yo 292.91 o/o 249.00 Yo

88.3Q o/o 75.10 % 75.30 o/o 75.30'% 73.30 o/o 74.06 o/o 78.40 % 79.82 Yo Notes to Schedule
Chanqes in assumptions
ln 2021 ,2020 and 2019, there were no changes. ln 2018, the demographic assumptions and inflation rate were changed in accordance with the CaIPERS Experience Study and Review of Actuarial Assumptions December 2017. ln 2017, lhe accounting discount rate was reduced from 7.65 percent to 7.'t5 percent. ln 2016, there were no changes. ln 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense). ln 2014, amounts reported were based on the 7.5 percent discount rate. " Schedule is intended to show information for ten years. Fiscal year 2015 was the first year of implementation, therefore only eight years are shown. Additional years' information will be displayed as it becomes available. 58 CITY OF SANGER

REQUIRED SUPPLEMENTARY INFORMATION

SCHEDULE OF THE PENSION CONTRIBUTIONS
Prepared for the City's Miscellaneous and Safety Plan, a Gost Sharing Defined Benefit Pension Plan As ofJune 30,2022
Last l0 Years *
s2,707,442$2,414,196$2,585,500$3,421,080$2,087,768$2,037,970$2,021,209$1,710,588 ,1 ent aat t a1a 10 3.335 500 3 421 /JAO 2 na7 76F, 2 o'47 q7n 2.021.209 1.710 588 Contractually required contribution
(actuarially determined)
Conkibutions in relation to the
actuarially determined contributions
Contribution defi ciency (excess)
Covered payroll
Conlributions as a percentage of
covered payroll
$ (19.095.000)
$ 7,308,106
s s (750.000) s $ s s
298.33 o/o
$ 7,452,075 $ 7,517,297 $ 7,194,486 $ 7,029,487 $ 6,525,459 $ 5,713,477 $ 5,552,266

32.40 0h 44.37 o/o 47.55 o/o 29.70 olo 31.23 % 35.38 % 30.81 % * Schedule is intended to show information for ten years. Fiscal year 2015 was the first year of implementation, therefore only eight years are shown. Additional years'information will be displayed as it becomes available. 59 COMBINING FINANCIAL SCHEDULES AND OTHER SUPPLEMENTARY INFORMATION

NON-MAJOR GOVERNMENTAL FUNDS
The following funds are reported in total on the Governmental Fund Financial Statements under the column Other Governmental Funds.

SPECIAL REVENUE FUNDS
State Gas Tax - The funds are used to account for receipts and expenditures of monies apportioned to the City under the Streets and Highways Case Section 2105, 2106,2107 ,2107.5 of the State of California.

Landscape and Liqhtino - Accounts for maintenance expenditures made with assessment money received from district property owners.

Measure C EXT - Pedestrian - These funds are uses for pedestrian facilities including sidewalks, paths, walkways, or equivalent facilities. Funding is provided by the countywide 112 cent transportation sales tax imposed in Fresno County for twenty years.

Measure C EXT - Bicvcle - These funds are used for bicycle facilities including accommodations for bicycle travel either by a shared roadway of by bike lane. Funding is provided by the countywide 112 cent transportation sales tax imposed in Fresno County for twenty years.

Measure C EXT - American Disabilitv Act (ADA) - These funds are used for the American Disability Act compliance for street construction and maintenance including curb cuts and ramps to remove barriers, as well as other special transportation services. Funding is provided by the countywide 112 cent transportation sales tax imposed in Fresno County for twenty years.

Measure C EXT - Street - These funds are used for the street maintenance for street improvements that address the aging street and road systems. Funding is provided by the countywide 112 cent transportation sales tax imposed in Fresno County for twenty years.

Measure C EXT - Flexible - These funds are used for any transportation project they feel is warranted (example: transit, pothole, repair and maintenance of existing alleys). Funding is provided by the countywide 112 cent transportation sales tax imposed in Fresno County for twenty years.

Transportation and Street Maintenance - Accounts forthe construction and maintenance of the street network system of the City. Financing is provided by allocations from the County Local Transportation Funds created by the Transportation Development Act.

Developer Fees - Accounts for fees placed on the development of land. Fees are an offset to the future impact that the development will have on infrastructure.

Asset Forfeiture - Accounts for receipt and expenditure seized assets (property and/or cash) of persons suspected of engaging in criminal enterprise pursuant to California Health & Safety Codes sections 11366 through 11491.

JFK Park LWFC Grant - Funding for capital projects providing additional amenities to the park, including seating, lighting, and irrigation.

Local Public Safetv - These funds are used to account for the revenues from Proposition 172, a 1993 measure which collects a 112 cenl sales tax for local public safety.

Air Qualitv Proiects - This fund is used to account for clean air fees collected by the State and distributed by the California Air Quality Management District for clean air projects.

Communitv Develooment Block Grant (CDBG) - Accounts for expenditures for approved projects that have been funded by federal Community Development Block Grant funds received through county funding.

Economic Development Administration (EDA) Grant - Funding from the U.S. Department of Commerce for installing a water storage tank for the City.
60 NON.MAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS (continued)
ARPA Fund - Federal funding from the American Rescue Plan Act for coronavirus related expenditures, revenue loss, and public assistance.

Federal Grants - Federal funding for various local projects and programs including an emergency food distribution program to support certain groups of individuals affected by COVID-19.

Transoortation Eouitv Act fiEA) 21 - Accounts for improving safety due to increasing traffic levels and protects and enhances the community and the natural environment.

Private Grants - Funding from independent 3rd party organization for various local projects and programs including a mattress recycling program.

Supolemental Law Enforcement Grant - State Supplements Law Enforcement Services Fund (SLESF) provided for front line municipal police services including anti-gang and community crime prevention programs.

Communitv Facilities District - Community Facilities District 2005-1 levies a special tax in the District comprised of developing areas. The tax provides for the financing of additional demands for public safety and park maintenance services as a result of development.

Sanqer Housino Authority - Authorized by Housing Authority Law commencing with Section 34200 of the health and Safety Code for the development and construction of low and moderate income housing.

State Homeland Securitv Grant - State Homeland Security Grant provides the first responders with the tools they need should a WMD incident occur in the Urban Area.

State Water Resources Control Board (SWRCB) - Accounts for grants provided by San Joaquin Valley Air Pollution Control District for air quality purchases like electric vehicles.

CalHome Grant - Accounts for California Department of Housing and Community Development grant to provide first time low income homebuyers down payment assistance and low income homeowners rehabilitation assistance.

CaIOES - Accounts for grants awarded by the California Governor's Office of Emergency Services (Cal OES) that cover numerous risks and threats related to natural disasters, public health, and public safety. Cal OES also works as a regional pass-through entity for FEMA disaster relief funds as they get distributed to the City. 61 CITY OF SANGER

NON-MAJOR GOVERNMENTAL FUN DS

COMBINING BALANCE SHEETS
JUNE 30, 2022
ASSETS
Cash and investments
Accounts receivable, net of allowance
lnterest receivable
Loans receivable
Land held for development
Total Assets
LIABILITIES. DEFERRED INFLOWS OF
RESOURCES. AND FUND BALANCES
(DEFICITSI
LIABILITIES:

Accounts payable
Accrued payroll and benefits
Retention payable
Due to other funds
Unearned revenue
Total Liabilities
DEFERRED INFLOWS OF RESOURCES:

Unavailable revenues
FUND BALANCES (DEFICITS):

Nonspendable
Restricted
Unassigned
Total Fund Balances (Deficits)
State
Gas Tax
$ 120,577 $
141,384
266
s )a2 ?27 S
$
262,227
262 227
Landscape
and Liohtino
Measure C
EXT -
Pedestrian
Measure C
EXT - Bicvcle
Measure C

EXT -ADA
Measure C
EXT - Street
$
323,379 $
4,851
364
aze 5q4
26,907 $
3,1 38
506,028 $
7,136
(1)
146,881 $
't,833
1 34,712 $
1,018
1,345,947
31,139
1,641
$ 513.163 $ 148.715 $ 35.730 $ 1.378.727
$ $ $ 2,340
2 3AO
513,163 148,715 35,730 1,376,387
5't3't63 144 715 35 730 1 ?74 ?87
3,358
33 413
295,'t81
295 141
$ 328,594
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
(Deficits) $ )6) t)7
62 s 513.163 $ 148.715 S 35730 S 137A727

CITY OF SANGER

NON-MAJOR GOVERNMENTAL F UNDS
COMBINING BALANCE SHEETS (continued)
JUNE 30,2022
Special Revenue Funds
Measure C
EXT - Flexible
Transportation
and Street
Maintenance
JFK Park LWFC
Grant
Local Public
SafetvDevelooer Fees Asset Forfeiture
ASSETS
Gash and investments
Accounts receivable, net of allowance
lnterest receivable
Loans receivable
Land held for development
Total Assets
LIABILITIES. DEFERRED INFLOWS OF
RESOURCES. AND FUND BALANCES
(DEFICITS)

LIABILITIES
Accounts payable
Accrued payroll and benefits
Retention payable
Due to other funds
Unearned revenue
Total Liabilities

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues
FUND BALANCES (DEFICITS):

Nonspendable
Restricted
Unassigned
Total Fund Balances (Deficits)
s 644262 s 2435176 $
$ 68,210 $ 113,790 $
5,677
33,460
aa 21f] 152 927
33 460
576,052 2,248,789 3,428,393
576, |l52 2 r4A7AC 3 428.393
RAA261 a )4?5176 s 347621A
32,275 $
17,761
s 32.276 $ 17.761
-
$ $
17,761
17 7F.1
32,276
?t 276
$ 613,456 $
30,121
685
2,390,263 $
42,180
2,733
3,428,394 $
47,825
(1)
$ 51,106
37,022
106
3 476.218
_ 47.825
47 A?5
$
$
aa ?34
88,234
44234
Total Liabilities, Deferred lnflows of
Resources, and Fund Balances
(Deficits) $
63 $ 32.276.: $ 17.761 $ aa 234

CITY OF SANGER

NON-MAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEETS (continued)
JUNE 30, 2022
Revenue Funds
ASSETS
Cash and investments
Accounts receivable, net of allowance
lnterest receivable
Loans receivable
Land held for development
Total Asseb
LIABILITIES. DEFERRED INFLOWS OF
RESOURCES. AND FUND BALANGES
(DEFICITSI
LIABILITIES:

Accounts payable
Accrued payroll and benefits
Retention payable
Due to other funds
Unearned revenue
Total Liabilities

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues
FUND BALANCES (DEFICITS):

Nonspendable
Restricted
Unassigned
Total Fund Balances (Deficits)
Air Quality
Proiects
$ 18,659 $
(1)

18.558
Community
Development
Block Grant EDA Grant ARPA Fund
$ $ 1,417,614 $
72,510 123,750
$--I3E1q $-J.3gZEg, $ 1 417 6'.t4 S
$ 39,021 $ $ 11,850 $
33,489 123,750
'l aoq 76/l
72 41n 12a 74n 1 417 614
123 750-
(23.750)
(123 75/J\

72.510 $ 123.750 $ 1.417.614
Federal Grants
127,854
127 854
$
1,150
126,704
127 A54
127 R5,4
(127 454\
l1r7 a54\
18,658
18 658
Total Liabilities, Deferred lnflows of
Resources, and Fund Balances
(Deficits) $ 't8 658 $
64 $_127 354.

Transportation
Equity Act (TEA)
21 CITY OF SANGER

NON-MAJOR GOVERNMENTAL F UN DS
COMBINING BALANCE SHEETS (continued)
JUNE 30, 2022
Revenue Funds
Private Grants
Supplemental
Lirw
Enfon;ement
Grant
$ 65,700 $
95,271
't51 ,870 $
7,684
34 488,440
660,735 60,000
1 1,031,701
712 fJrl|J
$ 660.735 $ 60.000
-
s 160 971 $ 15S.588 $ 2.232j42
$ 156,535 $ $
4,508 30,453 1,689
6,088
498,112 60,000
660 735 60 000 4 qn8 30 453 1 689
660 735 4n nnn 65.271 1 031 70'l
91,192 129,135
712,000
486,752
Community
Facilities District
Sanger Housing
Authoritv
ASSETS
Cash and investments
Accounts receivable, net of allowance
lnterest receivable
Loans receivable
Land held for development
Total Assets
LIABILITIES. DEFERRED INFLOWS OF
RESOURCES. AND FUND BALANGES
(DEFICITS)
LIABILITIES:

Accounts payable
Accrued payroll and benefits
Retention payable
Due to other funds
Unearned revenue
Total Liabilities
DEFERRED INFLOWS OF RESOURCES:

Unavailable revenues
FUND BALANCES (DEFICITS):

Nonspendable
Restricted
Unassigned
Total Fund Balances (Deficits)
$$
$$
(660.735)
/A6n 735)
(40.000)
{40 000)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
(Deficits)
91 192 Ita 145 1194752

60.000$ 660.735 $
65 $_160.971 $ 159.588 s 2.232.142

CITY OF SANGER

NON-MAJOR GOVERNMENTAL FUN DS
COMBINING BALANCE SHEETS (continued)
JUNE 30, 2022
SWRCB
Total
Non-major
Governmental
Funds
ASSETS
Cash and investments
Accounts receivable, net of allowance
lnterest receivable
Loans receivable
Land held for development
Total Assets
LIABILITIES. DEFERRED INFLOWS OF
RESOURCES. AND FUND BALANCES
(DEFICITSI
LIABILITIES:

Accounts payable
Accrued payroll and benefits
Retention payable
Due to other funds
Unearned revenue
Total Liabilities

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues
FUND BALANCES (DEFIGITS):

Nonspendable
Restricted
Unassigned
Total Fund Balances (Deficits)
Cal OES
CalHome
Grant
$ 333,333 $
$ 333,333 $ 1.243.064 $
$
333 333
333.333
217,404 $
14,285
(1)
1,011,376
30,243 $ 11,716,281
- 1,548,1 98
- 5,828
- 2,043,077
- 712 /J0,0,
State Homeland
Securitv Grant
23,839
$
ta a?9
$
23,839
ta A?9

17.406
(17 4n \
(7.406',)

30.243 $ 16 0253A4
$ 14,285 $ 25,489 $
4 754
14 285 30 243

1.O11.376
217,403
217 403
333 333 !l I 24a n64 $
458,427
40,938
11,765
920,483
I 741 F.7F.
3 223 2819
3111553
712,000
9,948,287
1969 745)
I 690 s42
Total Liabilities, Deferred lnflows of
Resources, and Fund Balances
(Deficits)
ioecial Revenue Funds
$_23,83e g
66 anrA? $ 1A o)5?AA

CITY OF SANGER
NON-MAJOR GOVERNMENTAL F:UN DS
COMBINING STATEMENTS OF REVENUES, EXPENDITURES, /\ND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 3Cr, 2022

REVENUES
Taxes
lntergovernmental
lnvestment income (loss)
Charges for services
Other revenue
Total Revenues

EXPENDITURES
Current:

Administrative services
Community services
Police department
Fire and emergency services
Development services
Public works
Capital outlay
Debt service:
lnterest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over
Expenditures
OTHER FINANCING SOURCES (USES}
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net change in fund balances
Fund Balances (Deficits) - July 1,2Q21
Fund Balances (Deficits) - June 30,2022
State
Gas Tax
$ 1,184,148 $
1,251
1 .1 85.399
486,004
983,059
1,469.063
(283.664)
(156,615)
(156.615)
(440.279)
702.506
$ 262.227 $
Landscape and
Liohtinq
Measure C
EXT -
Pedesllrian
erg,696 $
820
cto 516
90 516
ao 516
Ai,2 AA7
Measure C
EXT - Bicvcle
23,080 $
245
233?5
2a 424
2'., atq
1)5 aqn
Measure C

EXT - ADA
Measure C
EXT - Street
336,852 $
(620)
??6 r?t
25,902
553,274
1 891
5R1 n67
(244 P,35\
oaL a?a\
540 016
295.181
14,065 $
60 423,376
3,714
14 125 427 0SO
196,770
196.770
1A l'E 2?n ?20
1d 125. 230.320
t1 6,05 1 146,067
67 $ 513.163 $ 148 715 $ 35 730 s 1.376.387

CITY OF SANGER

NON-MAJOR GOVERNMENTAL FUN DS
COMBINING STATEMENTS OF REVENUES, EXPENDITURES, AND CHANGES lN FUND BAI-ANCES (continued) FOR THE YEAR ENDED JUNE 30, 2022
Measure C
EXT - Flexible
Transportation
and Street
Maintenance Developer Fees Asset Forfeiture
$ $
1,226,085
5,323 (62)
1F,2\
/Ar'l
/A'\
?2 t3g
JFK Park
LWFC Grant
Local Public
Safetv
$ 192,181
76 192.257
10,610
107,612
1 ?7?
11q 5q5
72 6,F.2
72 662
15 572

REVENUES
Taxes
lntergovernmental
lnvestment income (loss)
Charges for services
Other revenue
Total Revenues

EXPENDITURES
Current:

Administrative services
Community services
Police department
Fire and emergency services
Development services
Public works
Capitaloutlay
Debt service:
lnterest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over
Expenditures
OTHER FINANCING SOURCES (USES}
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net change in fund balances
Fund Balances (Deficits) - July 1,2021
(6,474)
319,904
410 446 1 231 40A 3'13 430
707,171 837,686 212,562
707 171 R37 6R6 t1) 5,A)
(296 325\ 393 722 100 868
55,336
55 336
(296 325\ 393722 156 204
872 ?77 ,1 R55 n67 atTt lRa
$ 576 052 S 224a7A9 S 3 428 393 S
$ 409,309 $
1,537
$
Fund Balances (Deficits) - June 30,2022
68 32276 $ $ aa)34

CITY OF SANGER
NON-MAJOR GOVERNMENTAL F:UN DS
COMBINING STATEMENTS OF REVENU=S, EXPENDITURES, AND C;HANGES lN FUND BAI-ANCES (continued) FORTHE YEAR ENDED JUNE 3C,2022
Soecial Revenue Funds
Air Quality
Proiects
Community
Development
Block Grant

REVENUES
Taxes
lntergovernmental
lnvestment income (loss)
Charges for services
Other revenue
Total Revenues

EXPENDITURES
Current:

Administrative services
Community services
Police department
Fire and emergency services
Development services
Public works
Capital outlay
Debt service:
lnterest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over
Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net change in fund balances
Fund Balances (Deficits) - July 1,2021
Fund Balances (Deficits) - June 30,2O22
$$ $
EDA Grant ARPA Fund Federal Grants
$ $
25 211.779
211,779
211 779
t5
lR 633
211,779 1 ,1 1 3,750
1 11?75.n
1 11?75n,
1 11?7qfJ
(1 2i"7 500\
25 610,112
5,297
615 40q
230,000
385,409
615 4nq
456,032
45F. r)32
56,694
11,691
68 385
347 647
3A7 647
(515.501)
t4
$ 18 658 $
69 $ (1i13.750) $ s t127 A5,4\

CITY OF SANGER

NON-MAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENTS OF REVENUES, EXPENDITURES, AND CHANGES lN FUND BALANCES (continued) FOR THE YEAR ENDED JUNE 30, 2022
Special Revenue Funds
Private Grants
Supplemental
Law
Enforcement
Grant
$ $ $ 797,724 $
(164) 776
47 qnA
1,593,816 161,285
1 593 816 1F-1 245 797.560 48.285
Transportation
Equity Act
fiEA) 21
1,090,203
1 nqn 20?
503 613
75,994
75 CtCt4
579.607
(1 240 342\
Community
Facilities
District
Sanger
Housing
Authoritv

REVENUES
Taxes
lntergovernmental
lnvestment income (loss)
Charges for services
Other revenue
Total Revenues

EXPENDITURES
Current:

Administrative services
Community services
Police department
Fire and emergency services
Development services
Public works
Capital outlay
Debt service:
lnterest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over
Expenditures

OTHER FINANCING SOURCES (USESI
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net change in fund balances
Fund Balances (Deficits) - July 1,2021
$
40,000

40.000
I40 0001
(40.000)
(40.000) s
(8.500)
10,323 46,356 13,573
157,346 348,967
467,738
69,439
126,497
t 1,16 1n 85? q2a
169.785 1 000411 83 936
(8 500) (20? 451\ 135 651)
Irnt Aq1\ (35 551)
c9 692 33't 986 1 234 403
Fund Balances (Deficits) - June 30,2022 s /6An 7?51 S
70 91.192$129.135$1j98.7s2

CITY OF SANGER

NON-MAJOR GOVERNMENTAL F'UN DS
COMBINING STATEMENTS OF REVENU=S, EXPENDITURES, AND CTHANGES lN FUND BALANCES (continued) FORTHE YEAR ENDED JUNE 30,2022
Soecial Revenue FunrCs
Cal OES SWRCB
Total
Non-major
Governmental
Funds
$ $ $ $ 3,470,431
5,551,465
12,087
319,904
147 914
6,434 172,172
State
Homeland
Securitv Grant
a 4?4
$

REVENUES
Taxes
lntergovernmental
lnvestment income (loss)
Charges for services
Other revenue
Total Revenues

EXPENDITURES
Current:

Administrative services
Community services
Police department
Fire and emergency services
Development services
Public works
Capital outlay
Debt service:
lnterest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over
Expenditures

OTHER FINANCING SOURCES (USESI
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net change in fund balances
Fund Balances (Deficits) - July 1,2021
CalHome
Grarrt
1Cr0.406
lCtO 689
14,285
14 ?45
Et6 404
86 AO4
1!t0 s99
283
11,621
7,032
106,764
56,694
637,237
474,770
525,503
1,337 ,947
4,458,047
'172'172
172,172
172 172
I 501 802
5,187
'?
RAN
(17 40,6,\
(17.406)
17 157
7 614 119

1.887.683
131,330
1't56 615)
(25 2P,5\
1 862 398
7 R'A 1AA
Fund Balances (Deficits) - June 30,2O22 $ (17.406) S
71 $ 217.403 $ $ I 690 542

CITY OF SANGER

STATE GAS TAX - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Original Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Nesative)

REVENUES
Taxes
lnvestment income
Total Revenues

EXPENDITURES
Curent:

Public works
Capital outlay
Total Expenditures
Excess (deficiency) of revenues over expenditures

OTHER FINANCING SOURCES (USES)
Transfers out
Total Other Financing Sources (Uses)
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June3O,2022
$ 1,042,600 $ 1,042,600 $ 1,184,148

4.100 4.100 1.251
$ 141,548
e.849\
1 .046,700 1 .046.700 1 .1 85.399 1 38.699
510,700
1 .1 1 0.500

1.621.200
(574.500)
510,700

1.110,500

1.621.200
(574.500)
486,004
983.059

1.469.063
(283.664)
24,696
't27.441
152.137
290.836
(155.615) (156.615)
(156.615) (156.615)
$J%EE) $ (574,s00) u40.279\ $ 134.221
702.506
$ 262.227
72 CITY OF SANGER

LANDSCAPE AND LIGHTING - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Oriqinal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Neqative)

REVENUES
Taxes
lnvestment income (loss)
Total Revenues

EXPENDITURES
Current:

Administrative services
Public works
Debt service:
lnterest and fiscal charges
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 30, 2022
$ 336,900

4.300
$ 336,900

4.300
$ 336,8s2 $
(620)
(48)

4.s20)
{4.s68)341.200 341.200 336.232
27,100
371,200
27,100
411,200
25,902
553,274

1.891
581.067
1,198
(142,074)
(1.8e1)
(142.7671398.300 438,300
$_JgA!gg) $_Jgt!g) (244.835\ $JIILZgE)
540.016
$ 295.181'@
73 CITY OF SANGER

MEASURE C EXT - PEDESTRIAN - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Oriqinal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Neqativel

REVENUES
Taxes
lnvestment income
Total Revenues
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June3O,2022
$ 84,800 $ 84,800

2.800 2.800
$ 89,696
820
$ 4,896
(1,e80)

87.600 87.600 90.516 2.916
$__-9z.600 $Jggg eo.s16 $_2.9.rc
422.647
$ 513.153'-
74 CITY OF SANGER

MEASURE C EXT - BICYCLE - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Original Final
Actual
Amounts
Variance
with Final
Budget
Positive

REVENUES
Taxes
lnvestment income
Total Revenues
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June3O,2022
$ 17,800
900

18.700
$ 18.700'-
$ 17,800
900

18.700
$ 18,700
$ 23,080
245

23.325

23.325
125.390
$-149J!E
$ 5,280
(655)
4,625
$----l€3q
75 CITY OF SANGER

MEASURE C EXT - ADA - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Oriqinal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Neqativel

REVENUES
Taxes
lnvestment income
Total Revenues
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 30,2O22
1 1.300 1 1.300
$ 11.300 $ 11.300:
$ 1 1,000
300
$ 11,000
300
$ 14,065
60 14.125

14.125
21,605
$ 35.730.G
$ 3,065
e40)

2.825
$ 2,825
76 CITY OF SANGER
MEASURE C EXT.STREET-SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
nal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Negative)
71,376
(2.686)
961.030
961.030

REVENUES
Taxes
lnvestment income
Total Revenues

EXPENDITURES
Capital outlay
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2Q21
Fund Balance - June30,2022
$ 352,000

6.400

1.157,800

1.157.800
't .1 57.800
1 .1 57.800
196.770
196.770
$ 352,000 $ 423,376 $

6.400 3.714
358.400 358.400 427.090 68.690
$ (799.400) $ (799.400) tanato $ 1.029.720

1.'146.067
$ 1.376.387
77 CITY OF SANGER

MEASURE C EXT - FLEXIBLE - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Amounts
Original Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Neqative)

REVENUES
Taxes
lnvestment income
Total Revenues

EXPENDITURES
Current:

Public works
Capitaloutlay
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 30,2022
$ 307,100

3.000
31 0.1 00
$ 336,600

3.000
339.600
$ 409,309

1.537
410.846
72,709
(1.463)

71.246
$
15,000
798.200
15,000
827.700
15,000
120.529
813.200 842.700
707 .171
707.171 135.529
$--1993-100) $JEggl9q) rzgo.gzs) $-zoo.ZZE
872.377
$ 576.052'-
78 CITY OF SANGER

TMNSPORTATION & STREET MAINTENANCE - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budqeted Amounts
Original Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Neqative)

REVENUES
Taxes
lntergovernmental
lnvestment income
Total Revenues

EXPENDITURES
Capital outlay
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June3Q,2022
$ 60,000 $ 60,000
916,000 9'16,000

15.000 15.000
991.000 991.000
$-
1,226,085
5,323

1.231.408
(60,000)
310,085
(9.677)
240.408
$

1.961.700

1.961.700

1.961.700

1.961.700
837.686
837.686

1.124.O14

1.124.014
$JgJ9.Zgq) $JgJgZgq) 3es.722 $Jgg&

1.855.067
s 2.248.789'-
79 CITY OF SANGER

DEVELOPER FEES - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Original Final
Actual
Amounts

REVENUES
lnvestment income (loss)
Charges for services
Total Revenues

EXPENDITURES
Current:

Administrative services
Capital outlay
Total Expenditures
Excess (deficiency) of revenues over expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Total Other Financing Sources (Uses)
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June30,2022
$ 32,100
348.600
4,'t00
175.000
1 79.1 00
201.600
-

55.336
r_ 55.336
$Jq g 1so.2o4

3.272.189
$ 3.428.393
Variance
with Final
Budget
Positive
(Nesative)
$ (6,474) $ (38,574)
319,904 (28.696)
212.562
212.562
100.868
4,1 00
(37.562)
noo.732)
380.700 380.700 313.430 67.270)
$ 32,100
348,600
4,1 00
175.000
1 79.1 00
201.600
(33.462)

55.336

55.336
$ (45.396)$ 201.600
80 CITY OF SANGER
ASSET FORFEITURE. SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budqeted AmounG
Oriqinal Final
Actual
Amounts
Variance
with Final
Budget
Positive
{Negative)

REVENUES
lnvestment income (loss)
Total Revenues
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June30,2022
$_2oo
200
$ 200
$_200
200
$ 200'-
$-(q) $-(262)
(62) Q62\
rc2\ $-J3ge)

32.338
s 32.276'-
81 CIry OF SANGER
JFK PARK LWFC GMNT. SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGETAND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Oriqinal* Final*
Actual
Amounts
Variance
with Final
Budget
Positive
(Negative)
$-'-

REVENUES
Total Revenues

EXPENDITURES
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 30, 2022
s (
$:
* There was no budget adopted for the JFK Park LWFC Grant fund for the year ended June 30,2022. rt
82 CITY OF SANGER

LOCAL PUBLIC SAFETY - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budseted Amounts
Oriqinal Final
Actual
Amounts

REVENUES
Taxes
lnvestment income (loss)
Total Revenues

EXPENDITURES
Current:

Administrative services
Police department
Debt service:
lnterest and fiscal charges
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June30,2O22
$ 120,900 $ 120,900
Variance
with Final
Budget
Positive
lNeoativel
-
$ 71,281
76 $ 192,181
76 10,610
107,6i2

1.373
1 19.595

72.662

15.572
$ 88.234'-
120.900 120.900 192.257 71.357
11,100
109,300
120.400
$ 500
11,'100
109,300
120.400
$ 500
(1.373)
805
$ 72.162'-
490
i,688
83 CITY OF SANGER

AIR QUALITY PROJECTS - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budoeted Amounts
Original Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Neqative)

REVENUES
lntergovernmental
lnvestment income
Total Revenues

EXPENDITURES
Current;
Administrative services
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 30, 2022
$ 2,100 $ 2,100 $
....- 2oo

2.100 2.300

4.600 4.600

4.600 4.600
$ (2.500) s (2.300)
-
25 25
25 18.633
s 18.658'-
$ (2,100)
(75l.
e.275)

4.600
4,600
$ 2.32s'-
84 CITY OF SANGER
COMMUNITY DEVELOPMENT BLOCK GRANT. SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGETAND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budqeted Amounts
Original Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Nesative)

REVENUES
lntergovernmental
Total Revenues

EXPENDITURES
Current:

Development services
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund balance - June 30, 2022
rt $_q9.1.q!g
601.618
$ 211.779
211.779
$ (38e.83e)
(389.839)
$:
601,618
__@,le!g
$+
2't1.779
211.779
389.839
389.839
$-
85 CITY OF SANGER
ECONOMTC DEVELOPMENT ADM|N|STRAT|ON (EDA) cRANT - SPEC|AL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Amounts
Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Neqative)

REVENUES
lntergovernmental
Total Revenues
Net change in fund balance
Fund Balance (Deficit) - July 1,2Q21
Fund Balance (Deficit) - June 30,2O22
$ 1.237.500

1.237.500
$ 1.237.500'-
$_1-SLZJ@

1.237.500
$ 1.237.500'-
$ 1.113.250 $J123.750)
1 .1 1 3,750 (23.750)

1.113.7s0 $_(glJEg)
(1.237.500)
$ (123.750)'-.
86 CITY OF SANGER

ARPA - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Oriqinal Final
Actual
Amounts
$ 2,384,756 $ 2,384,756 $ 610,112

5.297
Variance
with Final
Budget
Positive
(Neoative)
-
s (1,774,644',)
5,297

2.384.756 2.384.756 615,409 fi.769.347)

REVENUES
lntergovernmental
lnvestment income
Total Revenues

EXPENDITURES
Current:

Development services
Public works
Capital outlay
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 30, 2022
63,612
678.000
741.612
$ 1.643.144.:
63,612
678.000
741.612
$Lq49J4,
230,000
385.409
615.409
(230,000)
63,6i2
292.591
126.203
$JL043J_g)
87 CITY OF SANGER

FEDERAL GMNTS - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budaeted Amounts
Oriqinal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Negative)

REVENUES
lntergovernmental
Total Revenues

EXPENDITURES
Current:

Community services
Police department
Total Expenditures
Net change in fund balance
Fund Balance (Deficit) - July 1,2021
Fund Balance (Deficit) - June30,2O22
375,000 375,000 56,694 318,306
11 .691 (1 1.691)

68.385 306.615
387.647 $_Jg!3tgl)
(515.501)
$-g.alggl)
$ 1.275.000

1.275.000
$1225.000

1.275.000
$_459.@
456.032
$ (818,968)
(818.968)
375.000
$ 900.000'G
375.000
$ 900.000'-
88 CITY OF SANGER
TRANSPORTATION EQUITYACT 21 - MAJOR SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budseted Amounts
Oriqinal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Negative

REVENUES
lntergovernmental
Total Revenues

EXPENDITURES
Capital outlay
Total Expenditures
Excess (deficiency) of revenues over expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Total Other Financing Sources (Uses)
Net change in fund balance
Fund Balance (Deficit) - July 1,2021
Fund Balance (Deficit) - June3O,2O22
$lg9lzoo
1,604.200
$l!iq43oo

1.604,200
$ 1.593.816
1 ,593,816
$ (10.384)
(10.384)
1,604.200

1.604.200

1.705.952

1.705.952
(01,752)
1,090,203

1.090.203
503.613
615.749
615.749
605.365
e+$......./lffiI

75.994 75.994
75,994 75.994
579.607 $-09L359
(.240.342)
$ (660.735)':'
89 CITY OF SANGER

PRIVATE GRANTS - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Original Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Neoativel
-

BEVENUES
lntergovernmental
Total Revenues

EXPENDITURES
Capital outlay
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2O21
Fund Balance (Deficit) - June 3O,2022
$ 80.000
80,000
$___90.000

80.000
$_$qq00)
(80.ooo)

40.000 40,000
40,000 40.000
(40.000) $-(40.000)6

80.000

80.000

80.000

80.000
$-'-
$ (40.000)'€'
90 CITY OF SANGER
SUPPLEMENTAL LAW ENFORCEMENT GRANT. SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budqeted Amounts
Oriqinal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Nesative)

REVENUES
lntergovernmental
lnvestment income (loss)
Total Revenues

EXPENDITURES
Curent:

Administrative services
Police department
Debt service:
lnterest and fiscal charges
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 30, 2022
$ 165,000
200
10,800
i 44,1 00
154,900
$ 10.300'-
10,800
i44,iaa
154.900
$ 10.300'-
10,323
i57,346

2.116
169.785
(8.500)

99.692
$_gL!_E
$ (3,715)
(200)
(3.915)
477
(1J,Z4O'
Q.116\
(14.885)
$-Jlg999)
$ 1 65,000 $ 161 ,285
2oo
-
165.200 165.200 161.285
91 CITY OF SANGER

COMMUNITY FACILITIES DISTRICT - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Orioinal
-
Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Nesativel

REVENUES
Taxes
lnvestment income
Total Revenues

EXPENDITURES
Current:

Administrative services
Police department
Fire and emergency services
Public works
Debt service:
lnterest and fiscal charges
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 30, 2022
$ 750,900

2.300
$ 750,900

2.300
g 797,724
(164)
797.560
46,824
e.464\

44.360
$
753.200 753.200
48,500
308,000
458,900
104,900
48,500
308,000
458,900
104,900
46,356
348,967
467,738
126,497
2,144
(40,967)
(8,838)
(21,597)
(1 0 853)
(80.1 1 1)
$---1E9.291)

10.853
920.300 920.300 1.000.411
$-ggllgg) $-JJgt!gg) tzoz.ast\
331.986
$ 129.135'-
92 CITY OF SANGER

SANGER HOUSING AUTHORITY - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budqeted Amounts
Oriqinal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Negative)

REVENUES
lnvestment income
Other revenues
Total Revenues

EXPENDITURES
Current:

Administrative services
Deveiopmeni services
Debt service:
lnterest and fiscal charges
Total Expenditures
Net change in fund balance
Fund Balance - July 1,202'l
Fund Balance - June 30, 2022
41,600 41.600 48.285 6.685
$ 3,900

37.700
14,200
OY,OUU
$ 3,900

37.700
14,200
oY,ouu
$ 776

47.509
13,573
oYr.tJY
924

83.936
(35.651)

1.234.403
s 1.198.752'G
$ (3,124)

9.809
627
zu,Ja r
(924\

20.064
$ 26.749'-
104.000 104.000
$ (62.400) $ (62.400)
93 CITY OF SANGER

STATE HOMELAND SECURITY GRANT - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budseted Amounts
Oriqinal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Nesative)

REVENUES
lntergovernmental
Total Revenues

EXPENDITURES
Cunent:

Administrative services
Police department
Fire and emergency services
Capital outlay
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance (Deficit) - June 30, 2022
$ 4.400

4.400
$-1!132

14.732
$ 6.434

6.434
$ (8.2e8)
(8.2e8)
4,400
4,1 00
14,732
12,728
_ 4,100
1',t,62',1 3,111
7,032 5,696

5.187 (5.187)

23.840 7.720
n7.406\ $-JEZS)
$_ll_499)

4.400 31.560
$ (16.828)'<'
94 CITY OF SANGER
Cal OES - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
Orioinal*
-
Final*
Actual
Amounts
Variance
with Final
Budget
Positive

REVENUES
Total Revenues

EXPENDITURES
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 30, 2022
G $:
$-$-
-E
$-'-
$:
* There was no budget adopted for the Cal OES fund for the year ended June 30,2022. 95 CITY OF SANGER

CAL HOME GRANT - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Amounts
Original Final
Actual
Amounts

REVENUES
lnvestment income
Other revenues
Total Revenues

EXPENDITURES
Current:

Administrative services
Development services
Total Expenditures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June 3O, 2022
$
4,1 00

4.100
$_l3.lgg)
$-
500.000
4,100
500.000
504, I 00
$-JLglg)
$ 283
100.406

14.285

14.285
86,404
130.999
s 217.403'-
Variance
with Final
Budget
Positive
(Neqativel
-
$ 283
.594)
4,1 00
485.715
489.815
$ 90.504
500.000 100.689 (399.311)
96 CITY OF SANGER

SWRCB - SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
2021 -2022
Budgeted Amounts
nal Final
Actual
Amounts
Variance
with Final
Budget
Positive
(Negative)

REVENUES
lntergovernmental
Total Revenues

EXPENDITURES
Cunent:

Public works
Toiai Expenciiiures
Net change in fund balance
Fund Balance - July 1,2021
Fund Balance - June30,2Q22
$.- $-tlq&4
: 136,064
$ 172j72
172.172
$_3q1@

36.1 08
: 136,064
- rJoq
$-- $-.
172.172
i72.172
s-'<
{36.1 08)
rJo. I uo,
s-'-
97 INTERNAL SERVICE FUNDS
lnternal service funds are used to account for the financing of good or services provided by one department or agency to other departments or agencies of the government and to other government units, on a cost reimbursement Oalis. ttre internal service funds used by the Gity are shown below:

Administration - Accounts for the city manager, city clerk, and finance departments systems which include acquisition, replacement and support services for both hardware and software.

Eouioment Maintenance Fund - Accounts for bulk gasoline and consumption by the departments of the City.

Selflnsurance Proorams - Accounts for the City's self-insured risks for the workers' compensation and liability programs. 98 ASSETS
Current Assets
Cash and investments
Accounts receivable, net
lnventory
Total Current Assets
Total Assets

LIABILITIES
Current Liabilities
Accounts payable
Accrued payroll and benefits
Claims payable - current
Total Current Liabilities
Non-Current Liabilities
Claims payable
Total Non-Current Liabilities
Total Liabilities

NET POSITION
Unrestricted
Total Net Position

CITY OF SANGER

COMBINING SCHEDULE OF NET POSITION

INTERNAL SERVICE FUNDS
JUNE 30, 2022
Equipment
Administration Maintenance
$ 160,672 $ 37,059 $

4.611
Self
lnsurance
Programs
Total lnternal
Service Funds
198,546 $
710
396,277
710
a all
160.672 41.670 199.256 401.598
160.672 41,670 19q 256 401,598
130,976
29,696
41,670 2,950
q2 355
175,596
29,696

92.355
't60.672 il F.7n 95.305 297.647
379.327 379.327
379.327?27
160,672 h F.7n 474.632 676.974
Q75.376)
$-J4EZ9)
e75.376\
$-l?8929)
99 CITY OF SANGER

COMBINING SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION

INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED JUNE 30, 2022
Administration
Equipment
Maintenance
Self
lnsurance
Proqrams
Total lnternal
Service Funds

OPERATING REVENUES
Charges for services
Total Operating Revenue

OPERATING EXPENSES
Salaries and benefits
Supplies and services
General and administrative
Total Operating Expenses
Change in net position
Net Position (Deficit) - July 1,2021
Net Position (Deficit) - June30,2022
279,223
17 279,223 3.797.202 6.018.932
17,148 (11) (152,445)
(122.931\
(135,308)
(.17 148\ 11 (1 40.068)
$_L959.65s

1.959.655
$ 279.212
279.212
$__9e!4&2. $ 5.883.624

5.883,6243 757
1,064,243
815,460

62.804
2,882,003
349,186
566.0'13
3,946,246
1,443,869
100

CITY OF SANGER

COMBINING SCHEDULE OF CASH FLOWS

INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED JUNE 30, 2022
Governmental Activities - lnternal Service Funds

CASH FLOWS FROM OPERATING

ACTIVITIES
Charges for services
Cash paid to suppliers
Cash paid to employees
Net Cash Provided by Operating
Activities
Net lncrease in Cash and Cash Equivalents
Changes in assets and liabilities:

Decrease in accounts receivable
Decrease in inventory
(Decrease) increase in accounts payable
lncrease in claims payable
Decrease in accrued payroll and benefits
Equipment
Maintenance
Self
lnsurance
Reserve
Total lnternal
Service
FundsAdmin
$ 1,959,6s5
(827,483)
(1.065.267)
$ 279,212 $
(26e,647)
3,645,307
(645,057)
(2.882.003)
1A
'47
$ s,884,174
(1,742,187)
(3. 7 27n\

66.905 9,565 194.717
66,905

93.767
9,565
27,494
118,247
?qq
194,717
201.560Cash and Cash Equivalents - July 1,2021
Cash and Cash Equivalents - June 30,2022 $--1-99.672 $-31.059 $-l$i1!9 $-39€'277

RECONCILIATION OF OPERATING INCOME
(LOSSI TO NET CASH PROVIDED BY
OPERATING ACTIVITIES:

Operating lncome (Loss) 17,148 (1 1) (152,445) (13s,308) 50,781
(.024\
3,794
5,782 (5,235)
275,377
550
3,794
51,328
275,377
r.024\
550
Net Cash Provided by operating Activities $-0q.905 $-gEqg $-1J8247- $-1911J- 101