CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
DRAFT
225
Table 5
Ratio of Net
Fiscal Year Net Local State Net Net Total Assessed Valuation % Growth Total Direct Ending Secured Assessed Unsecured Assessed Assessed To Total Assessed of Assessed Tax June 30 Roll (1)
Valuation Roll Valuation Valuation Valuation Valuation Rate 2014 / 15 24,294,056$ 4,183$ 4,352,204$ 28,650,443 $ 28,758,679$ 99.62% 6.50% 1.13% 2015 / 16 27,659,960 4,183 5,157,346 32,821,489 32,927,777 99.68% 14.56% 1.16% 2016 / 17 30,672,596 4,183 5,856,885 36,533,664 36,638,297 99.71% 11.31% 1.15% 2017 / 18 33,449,607 3,896 6,553,560 40,007,063 40,109,539 99.74% 9.51% 1.16% 2018 / 19 36,596,483 354 7,266,592 43,863,429 43,964,914 99.77% 9.64% 1.13% 2019 / 20 38,502,828 870 7,629,244 46,132,942 46,232,453 99.78% 5.17% 1.20% 2020 / 21 42,047,766 870 7,972,493 50,021,129 50,118,954 99.80% 8.43% 1.18% 2021 / 22 44,162,052 870 8,007,077 52,170,000 52,264,729 99.82% 4.30% 1.19% 2022 / 23 48,144,003 870 8,668,804 56,833,678 56,926,788 99.84% 8.94% 1.17% 2023 / 24 52,144,207 1,074 8,829,840 60,975,121 61,070,198 99.84% 7.29% 1.17% Note:
(1) Net of Home Owner Property Tax Relief.
Source: County of Santa Clara, Department of Finance
CITY OF SANTA CLARA
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY Last Ten Fiscal Years
(In Thousands)
5. Assessed and Estimated Actual Value of Taxable P roperty – Last Ten Fiscal Years
DRAFT
226
CITY OF SANTA CLARA
PROPERTY TAX RATES
(Per $100 Assessed Valuation)
Direct and Overlapping Governments
Last Ten Fiscal Years
Table 6
Fiscal Santa
Year Ending Clara School Special
June 30 County Districts Districts Total
2014 / 15 1.0388% 0.0824% 0.0065% 1.1277%
2015 / 16 1.0388% 0.1174% 0.0057% 1.1619%
2016 / 17 1.0388% 0.1014% 0.0086% 1.1488%
2017 / 18 1.0388% 0.1028% 0.0062% 1.1478%
2018 / 19 1.0388% 0.0905% 0.0042% 1.1335%
2019 / 20 1.0388% 0.1472% 0.0041% 1.1901%
2020 / 21 1.0388% 0.1356% 0.0037% 1.1781%
2021 / 22 1.0388% 0.1318% 0.0051% 1.1757%
2022 / 23 1.0388% 0.1150% 0.0044% 1.1582%
2023 / 24 1.0388% 0.1147% 0.0041% 1.1576%
Tax rate limit: A state constitutional amendment (Proposition 13) commencing with fiscal 1979 provided that the tax rate was limited to 1% of full cash value, levied only by the County and shared with all other jurisdictions. All jurisdictions may levy a tax rate for voter approved debt.
Due date for current taxes: First installment - November 1; second installment - February 1.
Penalties for delinquency: 10% and 1.5% of tax per month after date taxes become delinquent.
Collected by government unit: County of Santa Clara.
Basis upon which collections are distributed: Taxing jurisdictions assessed valuations and tax rates for voter approved debt to taxing jurisdictions, County rate (1% of full cash value) shared by all jurisdictions.
Compensation paid to collecting government unit for fiscal year 2023-24 is $534,134 Note: Tax rates stated are the rates applicable to the tax rate area 7-000 as typical tax rate area within the City. Rates are based on $100 assessed valuation.
Source: County of Santa Clara, Department of Finance
6. Property Tax Rates Direct and Overlapping Governments – Last Ten Fiscal Years DRAFT
227
Table 7
Percentage of Percentage of
Assessed Total Assessed Assessed Total Assessed
Taxpayers Valuation Valuation Valuation Valuation
Intel Corporation 2,342,413$ 3.84% 1,291,429$ 4.49% Santa Clara Square Office IIA LLC 1,779,263 2.91% - - Nvidia Corporation (formerly Nvidia Land Development LLC) 1,768,796 2.90% 380,258 1.32% Vantage Data Centers LLC 1,183,601 1.94% - - SI LLC 1,136,588 1.86% - -
Microsoft Corporation 1,070,483 1.75% 266,324 0.93% Forty Niners SC Stadium Company LLC 811,430 1.33% - - Apple Inc 751,663 1.23% - - Santa Clara Phase III EFH LLC 727,178 1.19% - - Coresite Real Estate 575,460 0.94% - - Sobrato Interest - - 686,692 2.39% Oracle America Inc (formerly Sun Microsystems) - - 325,152 1.13% Xeres Ventures LLC - - 262,736 0.91% M West Propco LLC - - 254,714 0.89% Agilent Technologies Inc - - 244,671 0.85% Marvell Semiconductor Inc - - 208,024 0.72% Texas Instruments Inc - - 188,723 0.66% Top Ten Total 12,146,875$ 19.89% 4,108,723$ 14.29% City Total 61,070,198$ 28,758,679$
Sources: Santa Clara County Assessor 2023-24 and 2014-15 Combined Tax Rolls through HdL Coren & Cone. 2023-24 2014-15
CITY OF SANTA CLARA
PRINCIPAL PROPERTY TAX PAYERS
2023-24 AND 2014-15 COMPARISON FOR GENERAL FUND
(In Thousands)
7. Principal Property Tax Payers 2022-23 and 2013- 14 Comparison for General Fund
DRAFT
228
CITY OF SANTA CLARA
PROPERTY TAX LEVIES AND COLLECTIONS
Last Ten Fiscal Years
(In Thousands)
Table 8
Fi
scal Year Percentage of Delinquent Percentage of
Ending Gross Current Tax Current Levy Tax Total Total Levy June 30 Tax Levy Collections Collected Collected Collections Collected 2014 / 15 25,550 $ 25,550 $ 100.00% - 25,550 $ 100.00% 2015 / 16 27,603 27,603 100.00% - 27,603 100.00%
2016 / 17 30,605 30,605 100.00% - 30,605 100.00%
2017 / 18 33,312 33,312 100.00% - 33,312 100.00%
2018 / 19 37,374 37,374 100.00% - 37,374 100.00%
2019 / 20 40,288 40,288 100.00% - 40,288 100.00%
2020 / 21 43,680 43,680 100.00% - 43,680 100.00%
2021 / 22 45,539 45,539 100.00% - 45,539 100.00%
2022 / 23 57,619 57,619 100.00% - 57,619 100.00%
2023 / 24 61,986 61,986 100.00% - 61,986 100.00%
Sources: City of Santa Clara and County of Santa Clara, Department of Finance
8. Property Tax Levies and Collections – Last Ten Fiscal Years DRAFT
229
Table 9
This list is in alphabetical order and represents sales from July 2023 to June 2024 The Top 25 Sales / Use Tax contributors generate 41.4% of Santa Clara's total sales and use tax revenue AG Electronic Materials One Workplace
Applied Materials Pivot Interiors
Arista Networks Porsche Stevens Creek
Bell Electrical Supply Shockwave Medical
Costco Wholesale Stevens Creek Auto Imports
Frontier Ford Stevens Creek BMW
Home Depot Stevens Creek Hyundai
Intel Corporation Target Stores
Keysight Technologies Vantage Data Centers Procurement
Levi's Stadium Wiwynn International
Lexus of Stevens Creek World Wide Technology
Norman S. Wright Mechanical Equipment Corp ZT Systems
NVIDIA Corporation
Sources: From Muni Services Sales Tax Digest Summary.
CITY OF SANTA CLARA
PRINCIPAL SALE/USE TAX CONTRIBUTORS
June 30, 2024
9. Principal Sale/Use Tax Contributors
DRAFT
230
Table 10
Fiscal Year
Ending
June 30 Residential Commercial Industrial Other Total
2014 / 15 27,139$ 13,783$ 277,079$ 14,936$ 332,938 $ 2015 / 16 27,789 15,409 321,491 7,112 371,801
2016 / 17 28,007 15,855 341,865 4,682 390,410
2017 / 18 29,082 15,774 355,279 3,562 403,698
2018 / 19 29,734 15,378 359,407 2,428 406,947
2019 / 20 31,867 15,472 383,704 2,815 433,858
2020 / 21 35,440 16,489 399,940 1,394 453,264
2021 / 22 33,275 16,395 448,257 4,447 502,373
2022 / 23 38,021 17,991 500,189 2,964 559,165
2023 / 24 41,676 22,584 584,360 7,527 656,147
Sources: City of Santa Clara
CITY OF SANTA CLARA
E
lectric Utility Charge For Services by Source
Last Ten Fiscal Years
(In Thousands)
10. Electric Utility Charge for Services by Source
DRAFT
231
Table 11
Primary
Governme
nt Population
Debt per
Capita
Total
Personal
Income ($000)
Debt/
Income
Ratio
Fiscal Year
Ending
June 30
Certificates
of
Participatio
n
Lease
Liabiliti
es
SBITA
Liabilitie
s
Revenue
Bonds
Lease
Liabilities
SBITA
Liabilitie
s
Revenue
Bonds
2014 / 15 24,579 $ - $ - $ 226,828$ -$ - $ 561,556$ 812,963 $ 120,973 6,720 $ 4,952,711$ 16.41% 2015 / 16 22,905 - - 229,719 - - 464,720 717,344 123,752 5,797 5,194,006 13.81% 2016 / 17 21,177 - - 220,800 - - 429,773 671,750 123,983 5,418 5,454,137 12.32% 2017 / 18 19,392 - - 208,117 - - 394,827 622,336 129,604 4,802 6,064,143 10.26% 2018 / 19 17,551 - - 189,158 - - 340,217 546,926 128,717 4,249 6,121,909 8.93% 2019 / 20 15,638 - - 196,012 - - 325,265 536,915 129,104 4,159 6,180,008 8.69% 2020 / 21 13,654 676 - 184,933 2,917 - 296,796 498,976 130,746 3,816 6,596,037 7.56% 2021 / 22 11,594 464 2,397 170,413 2,287 1,437 280,314 468,906 130,127 3,603 7,540,481 6.12% 2022 / 23 10,560 252 8,918 155,302 1,633 2,718 245,275 424,658 132,476 3,206 8,953,977 4.74% 2023 / 24 9,476 39 9,204 154,567 951 2,976 228,668 405,881 132,048 3,074 9,985,016 4.06% Sources: Finance Office, City of Santa Clara and MuniServices LLC.
CITY OF SANTA CLARA
RATIOS OF OUTSTANDING DEBT BY TYPE
Last Ten Fiscal Years
(In Thousands)
Governmental Activities Business Activities
Santa Clara
Stadium
Authority
11. Ratios of Outstanding Debt by Type – Last Ten Fi scal Years DRAFT
232
Fiscal Year
Ending June 30 Population
Total Assessed
Valuation
2014 / 15 121.0 28,758,679$
2015 / 16 123.8 32,927,777
2016 / 17 123.9 36,638,297
2017 / 18 129.6 40,109,539
2018 / 19 128.7 43,964,914
2019 / 20 129.1 46,232,453
2020 / 21 130.7 50,118,954
2021 / 22 130.1 52,264,729
2022 / 23 132.5 56,926,788
2023 / 24 132.0 61,070,198
Sources: State of California, Department of Finance
County of Santa Clara, Department of Finance
CITY OF SANTA CLARA
POPULATION AND ASSESSED VALUATION
Last Ten Fiscal Years
(In Thousands)
Table 12
12. Population and Assessed Valuation – Last Ten Fis cal Years DRAFT
233
Table 13
% Applicable Debt
Direct Debt:
2013 Refunding Certificates of Participation 100% 9,055,000$ Total Gross Direct Debt 9,055,000
Unamortized Premium/Discount 100% 420,800
Total Net Direct Debt 9,475,800
Overlapping Debt:
Santa Clara County General Fund Obligations 97,859,277
Santa Clara County Pension Fund Obligations 29,951,831
Santa Clara Valley Water District Benefit Assessment District 2,704,822 Santa Clara County Board of Education Certificates of Participation 1,117,003 San Jose-Evergreen Community College District OPEB Obligations 23,957 West Valley-Mission Community College District General Fund Obligations 774,900 Foothill-DeAnza Community College District 7,778,180
San Jose-Evergreen Community College District 500,889
West Valley Community College District 203,884,800
Fremont Union High School District 19,983,597
Campbell Union High School District General Fund Obligations 297,810 Campbell Union School District 11,704,464
Campbell Union High School District 7,416,241
Campbell Union School District General Fund Obligations 57,515 El Camino Hospital District 1,886,371
San Jose Unified School District 623,979
Cupertino Union School District 11,824,830
Santa Clara Unified School District 657,939,886
San Jose Unified School District General Fund Obligations 4,648 Santa Clara County 88,520,360
Cupertino Union School District General Fund Obligations 2,016,898 Santa Clara Unified School District Certificates of Participation 7,343,695 Santa Clara County Vector Control District Certificates of Participation 87,431 Total Overlapping Debt 1,154,303,384
Total Gross Direct and Overlapping Bonded Debt (1) 1,163,358,384 Direct Unamortized Premium/Discount -
TOTAL NET DIRECT AND OVERLAPPING BONDED DEBT 1,163,358,384$ 2023 / 24 Assessed Value 61,070,198,224$
Ratios to Assessed Valuation:
Direct Debt 9,475,800$ 0.010%
Total Gross Debt 1.900%
Total Net Debt 1.900%
Note: (1) Excludes tax and revenue anticipation notes, revenue, mortgage revenue and tax allocation bonds.
Source: California Municipal Statistics, Inc.
CITY OF SANTA CLARA
COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT June 30, 2024
Description
DRAFT
234
13. Computation of Direct and Overlapping Bonded Debt
Table 14
Fiscal Year Net
Ending Assessed Debt Limit- 15% of Debt Applicable
June 30 Valuation Assessed Valuation (1)
to Limit Legal Debt Margin
2014 / 15 28,650,443$ 4,297,566$ - 4,297,566$ 2015 / 16 32,821,489 4,923,223 - 4,923,223 2016 / 17 36,533,664 5,480,050 - 5,480,050 2017 / 18 40,007,063 6,001,059 - 6,001,059 2018 / 19 43,863,429 6,579,514 - 6,579,514 2019 / 20 46,132,942 6,919,941 - 6,919,941 2020 / 21 50,021,129 7,503,169 - 7,503,169 2021 / 22 52,170,000 7,825,500 - 7,825,500 2022 / 23 56,833,678 8,525,052 - 8,525,052 2023 / 24 60,975,121 9,146,268 - 9,146,268 Note:
Sources: County of Santa Clara, Department of Finance and City of Santa Clara
CITY OF SANTA CLARA
LEGAL DEBT MARGIN INFORMATION
Last Ten Fiscal Years
(In Thousands)
(1) Section 1309 of the City Charter of the City states: "Bonded Debt Limit. The bonded indebtedness of the City may not in the aggregate exceed the sum of fifteen percent (15%) of the total assessed valuation of property within the City, exclusive of revenue bonds or any indebtedness that has been or may hereafter be incurred for the purposes of acquiring, constructing, extending, or maintaining municipally owned utilities for which purposes a further indebtedness may be incurred by the issuance of bonds, subject only to the provisions of the State Constitution and this Charter."
14. Legal Debt Margin Information – Last Ten Fiscal Years DRAFT
235
Table 15
Fiscal Year
Ending June 30
Gross
Revenue
Less
Operating
Expense
Net Revenue
Available For
Debt Service Principal Interest
Letter Of
Credit
Fees Total Coverage (1)
2014 / 15 332,178 $ 297,846 $ 34,332$ 6,485 $ 7,990 $ 459 $ 14,934 $ 2.30 2015 / 16 359,084 316,578 42,506 8,958 8,348 358 17,664 2.41 2016 / 17 352,828 317,237 35,591 7,640 8,434 335 16,409 2.17 2017 / 18 383,662 346,825 36,837 11,416 6,594 302 18,312 2.01 2018 / 19 414,975 331,141 83,834 11,897 11,565 607 24,069 3.48 2019 / 20 445,142 368,162 76,980 11,700 6,787 316 18,803 4.09 2020 / 21 465,675 407,627 58,048 9,580 3,862 349 13,791 4.21 2021 / 22 550,445 493,302 57,143 13,005 3,232 8 16,245 3.52 2022 / 23 635,066 602,370 32,696 13,580 2,696 15 16,291 2.01 2023 / 24 635,038 518,547 116,491 15,140 2,254 6 17,400 6.69 Notes:
Source: City of Santa Clara
CITY OF SANTA CLARA
Last Ten Fiscal Years
(In Thousands)
(1) The required coverage is 1.00.
PLEDGED REVENUE COVERAGE
ELECTRIC REVENUE BOND
15. Pledged Revenue Coverage Electric Revenue Bond – Last Ten Fiscal Years DRAFT
236
Table 16
Per
Capita Public County City
Personal Buying Median School Unemployment Unemployment Year Population Income Income Age Enrollment Rate Rate
($000)
2014 / 15 120,973 4,952,711$ 40,941 $ 34.4 15,169 3.9% 3.6% 2015 / 16 123,752 5,194,006 41,971 34.3 15,388 4.2% 3.7% 2016 / 17 123,983 5,454,137 43,991 34.3 15,409 3.8% 3.4% 2017 / 18 129,604 6,064,143 46,790 34.3 15,509 2.9% 2.7% 2018 / 19 128,717 6,121,909 47,561 33.9 15,387 2.1% 1.9% 2019 / 20 129,104 6,180,008 47,868 34.2 15,306 11.0% 9.0% 2020 / 21 130,746 6,596,037 50,449 33.9 14,808 7.0% 5.9% 2021 / 22 130,127 7,540,481 57,947 34.0 14,028 1.8% 1.6% 2022 / 23 132,476 8,953,977 67,589 34.5 13,919 3.2% 2.9% 2023 / 24 132,048 9,985,016 75,617 34.8 14,236 3.4% 3.2% Sources: MuniServices, LLC \ Avenu Insights & Analytics (1) Population data by the California Department of Finance Projections. (2) The California Department of Finance demographics estimates now incorporate 2010 Census counts as a benchmark. (3) Unemployment and Total Employment Data are provided by the EDD's Bureau of Labor Statistics Department. (4) Student Enrollment reflects the total number of students enrolled in the Santa Clara Unified School District.
Other school districts within the City are not accounted for in this report.
CITY OF SANTA CLARA
DEMOGRAPHIC AND ECONOMIC STATISTICS
Last Ten Calendar Years
16. Demographic and Economic Statistics – Last Ten C alendar Years DRAFT
237
Table 17
Percentage of Percentage of
Number of Total City Number of Total City
Company Employees Employment Employees Employment
Applied Materials, Inc. 8,500 21.1% 8,500 18.1% Intel Corporation 7,801 19.4% 10,801 23.1% Advanced Micro Devices Inc. 3,000 7.4%
Kaiser Foundation Health Plan 2,600 6.4%
Nvidia 2,500 6.2%
California's Great America 2,500 6.2% 2,500 5.3% Dell 2,088 5.2%
Santa Clara University 2,000 5.0% 1,200 2.6% City of Santa Clara 1,704 4.2% 1,588 3.4% Macy's 1,200 3.0% 1,200 2.6%
Avaya Inc. - - 2,000 4.3%
EMC Corporation - - 1,338 2.9%
ON Semiconductor Corporation - - 1,100 2.3% Texas Instruments - - 3,500 7.5% Total Top Ten 33,893 84.1% 33,727 72.1%
All Others 6,422 15.9% 13,124 27.9%
Total Employment 40,315 100% 46,851 100%
Sources: Fiscal year 2023: Reference Solutions database, Infogroup, Inc., Papillion, Nebraska Sources: Fiscal year 2014: ReferenceUSA database, infogroup, Inc., Papillion, Nebraska
CITY OF SANTA CLARA
PRINCIPAL EMPLOYERS
Current Year and Ten Years Ago
2024 2015
17. Principal Employers – Current Year and Ten Years Ago DRAFT
238
Table 18
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
City Council 10.00 9.00 9.00 9.00 10.00 10.00 11.00 10.00 9.00 8.50 City Clerk 7.00 7.00 6.00 7.00 5.00 6.00 7.00 7.00 5.00 5.00 City Attorney 7.00 8.00 8.00 8.00 7.00 7.00 6.00 6.00 6.00 6.00 City Auditor 2.00 3.00 3.00 3.00 3.00 - - - - - City Manager 11.30 19.00 19.00 13.00 13.00 13.00 14.00 13.00 16.00 9.00 Information Technology 6.00 6.00 6.00 7.00 7.00 7.00 7.00 7.00 5.00 5.00 Human Resources 15.00 15.00 14.00 15.75 15.75 15.00 15.00 15.00 14.50 14.50 Finance 70.75 69.75 68.75 69.75 61.75 61.00 61.00 61.75 60.25 58.25 Parks & Recreation 77.75 77.75 77.75 82.75 82.75 80.75 80.75 79.00 82.75 82.75 Library 42.75 42.50 42.50 46.75 46.75 46.75 45.50 45.50 47.00 46.50 Community Development 75.00 73.00 72.00 68.75 66.00 65.00 64.00 56.00 42.00 44.00 Engineering 36.25 40.25 39.25 42.25 39.25 39.92 40.92 39.25 38.25 38.00 Building Maintenance 13.00 13.00 13.00 13.00 13.00 13.23 13.23 12.90 10.90 11.40 Street 55.60 55.60 55.50 60.60 60.60 58.60 58.60 59.60 65.35 63.10 Automotive Services 14.65 14.65 14.75 15.65 15.65 15.75 15.75 15.75 15.00 15.00 Police 231.00 231.00 221.00 239.00 239.00 239.00 239.00 231.00 222.00 219.00 Fire 173.50 155.50 154.50 168.25 167.25 167.25 167.50 166.50 179.50 179.50 Non-Departmental 5.70 - - 11.00 9.00 4.00 - - - - Electric Utility 222.00 214.00 198.00 198.00 197.00 189.00 186.00 179.00 166.00 156.00 Water Utility 50.55 50.55 50.55 50.80 50.80 50.35 50.85 52.70 50.10 47.10 Sewer Utility 22.45 22.45 22.45 22.20 22.20 22.65 22.15 21.30 19.90 17.90 TOTAL 1,149.25 1,127.00 1,095.00 1,151.00 1,131.75 1,111.25 1,105.25 1,078.25 1,054.50 1,026.50 Source: City of Santa Clara Annual Budget
CITY OF SANTA CLARA
FULL-TIME EQUIVALENT BUDGETED CITY EMPLOYEES BY PROGRAM/FUNCTION Last Ten Fiscal Years
Fiscal Year Ending June 30
18. Full-Time Equivalent Budgeted City Employees by Program/Function – Last Ten Fiscal Years DRAFT
239
Table 19
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Culture and Recreation:
Number of library items circulated 2,060,389 2,152,877 1,268,965 736,301 1,598,171 2,509,201 2,612,102 2,700,315 2,479,126 2,491,553 Fire Protection:
Number of calls answered 10,949 10,688 10,391 8,853 9,339 9,456 8,849 8,850 8,933 8,403 Number of inspections conducted 8,801 10,143 4,004 4,303 6,404 8,470 9,696 8,260 8,067 Police Protection:
Number of calls for service
(1)
47,828 43,306 61,421 67,211 63,860 58,912 53,865 50,429 51,853 60,208 Electric System:
Maximum annual demand (MW) 669.2 693.9 649.4 590.6 579.3 587.8 586.6 568.1 526.4 491.1 Total annual energy (Mwh) 4,657,586 4,568,293 4,361,658 3,956,474 3,773,864 3,693,251 3,733,800 3,628,200 3,488,004 3,238,372 Sewer System:
Number of service connections 25,312 26,105 25,682 25,948 25,359 25,481 26,236 26,162 25,744 25,656 Peak flow (5-day average, WPCP)
(MG) 110 110 110 110 110 110 110 110 110 121 Maximum daily capacity of
treatment plant (WPCP) (MGD) 167 167 167 167 167 167 167 167 167 167 Peak flow (5-day average, City)
(MGD) 16 16 16 16 16 16 16 16 16 16 Water System:
Number of service accounts 24,903 25,894 25,371 25,592 24,904 25,293 25,670 25,714 25,716 25,656 Daily Average consumption (MG) 15 14 13 16 16 16 15 15 15 16.8 Maximum daily capacity of plant:
Potable Water (MGD) 80 80 80 80 80 80 80 80 96 87 Recycled Water (MGD) 15 15 15 15 15 15 15 30 14 15 Note: (1) Data Based on Calendar Year
Source: City of Santa Clara
CITY OF SANTA CLARA
OPERATING INDICATORS BY FUNCTION/ACTIVITY
Last Ten Fiscal Years
Fiscal Year Ending June 30
19. Operating Indicators by Function/Activity – Last Ten Fiscal Years
DRAFT
240
CITY OF SANTA CLARA
Table 20
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Culture and Recreation:
Number of community centers 4 4 4 4 4 4 4 4 4 4 Number of parks 44 44 44 44 44 39 39 35 34 34 Park acreage 353 353 367 367 353 254 311 330 274 273 Number of golf courses - - - - - 1 1 1 1 1 Number of swimming pools 11 11 11 11 11 11 11 11 5 5 Number of tennis courts 28 27 27 27 27 28 28 28 28 28 Number of lawn bowling greens 1 1 1 1 1 1 1 1 1 1 Number of lighted soccer fields 7 7 7 7 7 3 3 3 3 3 Number of lighted softball fields 4 4 4 4 4 7 7 7 7 7 Number of neighborhood park buildings 11 10 10 10 10 8 8 8 8 8 Number of gymnastic centers 1 1 1 1 1 1 1 1 1 1 Number of skate parks 1 1 1 1 1 1 1 1 1 1 Number of community theaters 1 1 1 1 1 1 1 1 1 1 Number of libraries 3 3 3 3 3 3 3 3 3 2 Cemetery 2 2 2 2 2 2 2 2 2 2 Fire Protection:
Number of stations 9 10 10 9 10 10 10 10 10 10 Police Protection:
Number of stations 1 1 1 1 2 2 2 2 2 2 Electric System:
Number of meters 60,795 59,297 59,227 58,230 57,066 55,971 55,139 54,942 53,824 53,360 Miles of high voltage lines 631 631 622 618 616 613 612 608 605 591 Number of substations 29 31 29 29 29 28 27 27 27 27 Sewerage and Storm Drain System:
Miles of sanitary sewers 288 288 288 288 288 288 288 288 288 288 Number of sanitary sewer pump stations 6 6 6 6 6 6 6 6 6 6 Miles of storm sewers 194 194 194 196 195 195 195 195 195 195 Number of treatment plants 1 1 1 1 1 Tertiary 1 Tertiary 1 Tertiary 1 Tertiary 1 Tertiary 1 Tertiary Number of storm drain pump stations 22 22 22 22 22 22 22 22 22 22 Water System:
Miles of water mains 306 306 306 306 306 335 335 335 310 335 Number of fire hydrants 3,648 3,437 3,437 3,248 3,429 3,404 3,382 3,501 3,383 3,315 Miles of recycled watermains 34 34 34 34 34 33 33 33 33 33 Streets:
Miles of Streets 252 252 252 252 252 252 252 252 252 252 Number of Street Lights 8,431 8,431 8,429 8,404 8,235 8,187 8,118 8,112 8,103 8,097 Number of Traffic Signals 160 157 186 183 182 207 207 207 206 200 Source: City of Santa Clara
CAPITAL ASSETS STATISTICS BY FUNCTION
Last Ten Fiscal Years
Fiscal Year Ending June 30
20. Capital Assets Statistics by Function – Last Ten Fiscal Years DRAFT
241
Table 21
INSURANCE ANNUAL TERM EXPIRATION
TYPE OF POLICY COMPANY LIMITS (1) PREMIUM (3)
YEARS DATE (2)
Liability
Comprehensive General Self-insured (Since 1987) $3 million n/a - Ongoing Excess Liability PRISM $50 million $2,244,248 1 7/1/2024 and various other carriers
Workers' Compensation Self-insured (since 1973) $750 thousand n/a - Ongoing Excess Workers' PRISM $5 million $999,843 1 7/1/2024 Compensation and various other carriers
Property Coverage
All Risks, including flood, Alliant Property Insurance
excluding earthquake Program (APIP) $1 billion $1,955,842 1 7/1/2024 Various excess carriers
Boiler and Machinery Alliant Property Insurance $100 million $14,403 1 7/1/2024 Program (APIP)
Various excess carriers
Financial Loss Bonds
Crime Coverage Bond PRISM $10 million $14,959 1 6/30/2024 Notes:
(1) Limits are per occurrence
(2) All policies have been renewed
Source: City of Santa Clara
CITY OF SANTA CLARA
STATEMENT OF INSURANCE COVERAGE
June 30, 2024
21. Statement of Insurance Coverage
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SUCCESSOR AGENCY CITY OF SANTA CLARA
STATISTICAL SECTION
This part of the City of Santa Clara’s Annual Comprehensive Report provides detailed information to better understand the data presented within the financial statements, note disclosures, and required supplementary information.
TABLES
REVENUE CAPACITY 1 - 3
Contains information to help the reader assess the Successor Agency’s most significant local revenue source, the property tax.
DEBT CAPACITY 4
Presents information to assess the affordability of the Successor Agency’s current levels of outstanding debts.
Successor Agency
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Table 1
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Real Property Value 6,573,299$ 5,996,569$ 5,790,301$ 5,708,617$ 5,372,322$ 6,024,538$ 6,136,642$ 5,710,559$ 4,474,495$ 2,504,578$ Other Property Value 32,851 26,855 33,102 28,733 25,324 22,913 25,857 27,877 796,082 551,425 Total Project Value 6,606,150 6,023,424 5,823,403 5,737,350 5,397,646 6,047,451 6,162,499 5,738,436 5,270,577 3,056,003 Less Base Value (8,838) (8,838) (8,838) (8,838) (8,838) (8,838) (8,838) 49,632 49,322 (8,829) Increment Over Base Value 6,597,312 6,014,586 5,814,565 5,728,512 5,388,808 6,038,613 6,153,661 5,788,068 5,319,899 3,047,174 Redevelopment Property
Tax Trust Fund (RPTFF) (1) - - - - - - - - 5,697 9,365 Total Tax Revenue -$ -$ -$ -$ -$ -$ -$ -$ 5,697$ 9,365$ Notes:
Source: City of Santa Clara / Santa Clara County Auditor
SUCCESSOR AGENCY OF THE CITY OF SANTA CLARA
BAYSHORE NORTH P ROJECT AREA
HISTORICAL TAX INCREMENT
Las t Ten Fis cal Years
(In Tho us ands )
(1) With the State dissolving all RDAs on 02/01/2012, the structure of Tax Increment Revenue has changed. Starting in fiscal year 2012-13, the County's property tax distribution to the Successor Agency was changed to the Redevelopment Property Tax Trust Fund (RPTTF). The RPTTF reported in this table is the amount calculated by the County Auditor-Controller. Under the provisions of the laws dissolving the Redevelopment Agency, the Successor Agency only receives the funds necessary to fulfill its approved obligations.
1 . Historical Tax Increment – Last Ten Fiscal Years
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Table 2
ASSESSED ASSESSED
PROPERTY PROPERTY PERCENT
ASSESSEE USE VALUATION OF TOTAL
1 Forty Niners SC Stadium Company LLC Commercial Office Building 811,430,125$ 12.28% 2 SI LLC Commercial Office Building 592,670,967 8.97% 3 Exchange Santa Clara Commercial Office Building 316,200,000 4.79% 4 Innovation Commons Owner LLC Commercial Office Building 290,034,923 4.39% 5 The Irvine Company Commercial Office Building 240,463,423 3.64% 6 Apple Inc Commercial Office Building 229,758,745 3.48% 7 PC Santa Clara Gateway 2 LLC Commercial Office Building 222,711,871 3.37% 8 SCT Owner LLC Commercial Office Building 205,645,889 3.11% 9 STC Venture LLC Commercial Office Building 188,867,860 2.86% 10 PRII Towers at Great America Owner LLC Commercial Office Building 183,302,957 2.77% TOTAL 3,281,086,760$ 49.66%
TOTAL AGENCY ASSESSED VALUE 6,606,149,941$
Source: HDL Coren & Cone
SUCCESSOR AGENCY OF THE CITY OF SANTA CLARA
BAYSHORE NORTH PROJECT AREA
TEN LARGEST ASSESSEES - TAXABLE VALUE
June 30, 2024
2. Ten Largest Assessees – Taxable Value
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Table 3
HEARING APPLICANT'S
TAX ROLL ASSESSED APPEAL DATE OPINION
NUMBER ASSESSEE VALUATION/ORIGINAL S/U
(1)
NUMBER DEADLINE STATUS VALUATION LAND USE
984-92-103 FORTY NINERS 555,214,000$ S 15.0278 88,000,000$ Commerical 984-92-104 FORTY NINERS 555,214,000 S 15.0279 88,000,000 Commerical 984-92-103 FORTY NINERS 555,214,000 S 15.028 88,000,000 Commerical 984-92-104 FORTY NINERS 555,214,000 S 15.0281 88,000,000 Commerical 984-92-103 FORTY NINERS 554,267,314 S 17.0232 140,000,000 Commerical 984-92-104 FORTY NINERS 554,267,314 S 17.0233 140,000,000 Commerical 984-92-104 FORTY NINERS 548,980,708 S 16.0256 100,000,000 Commerical 984-92-103 FORTY NINERS 548,980,708 S 16.0257 100,000,000 Commerical 984-92-103 FORTY NINERS 253,784,158 S 18.1918 250,500,000 Commerical 22-0125223 APPLE INC 160,776,054 U 22.1293 50,100,000 N/A 21-0811071 CEDAR FAIR S 93,154,425 U 21.3482 46,577,214 N/A 21-0811089 CEDAR FAIR S 86,769,758 U 21.3483 42,989,135 N/A 21-0811097 CEDAR FAIR S 62,482,975 U 21.3484 35,620,612 N/A 21-0811105 CEDAR FAIR S 59,777,200 U 21.3485 29,888,601 N/A 17-018611 CEDAR FAIR S 59,280,246 U 17.1041 58,852,511 N/A 18-018278 CEDAR FAIR S 58,493,748 U 18.0594 50,547,232 N/A 18-0429201 CYXTERA COMM 46,130,484 U 22.416 16,130,000 N/A 104-50-025 COHERENT INC 46,023,273 S 15.0256 15,251,322 Commerical 10-037856 SAVVIS COMMU 45,935,890 U 10.5814 40,000,000 N/A 14-032002 SAVVIS COMMU 44,195,581 U 14.171 22,000,000 N/A 5,444,155,836$ 1,490,456,627$
Note:
(1) S=secured roll, U=unsecured roll
Source: Santa Clara County Assessor's Office
SUCCESSOR AGENCY OF THE CITY OF SANTA CLARA
BAYSHORE NORTH PROJECT AREA
ASSESSMENT APPEAL ACTIVITY OF TOP 20 ASSESSEES
2023-24 Impacts
3. Assessment Appeal Activity of Top 20 Assessees
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Table 4
2023-24 Assessed Valuation: 6,606,149,941$
Base Year Valuation: (8,837,956)
Incremental Valuation: 6,597,311,985$
Total Debt Project Area’s Share of
6/30/2024
%
Applicable(1) Debt 6/30/24
OVERLAPPING TAX AND ASSESSMENT DEBT:
Santa Clara Unified School District 1,003,615,000$ 7.645% 76,726,367$ West Valley-Mission Community College District 663,040,000 3.495% 23,173,248 Santa Clara County 956,770,000 1.001% 9,577,268
Santa Clara Valley Water District Benefit Assessment District 29,235,000 1.001% 292,642 El Camino Hospital District 102,186,937 0.007% 7,153 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 109,776,678$
OVERLAPPING GENERAL FUND DEBT:
Santa Clara County General Fund Obligations 1,057,709,440$ 1.001% 10,587,671$ Santa Clara County Pension Obligations 323,733,582 1.001% 3,240,573 Santa Clara County Board of Education Certificates of Participation 12,073,098 1.001% 120,852 West Valley-Mission Community College District General Fund Obligations 2,520,000 3.495% 88,074 Santa Clara Unified School District Certificates of Participation 11,202,000 7.645% 856,393 City of Santa Clara General Fund Obligations 9,055,000 10.817% 979,479 Santa Clara County Vector Control District Certificates of Participation 945,000 1.001% 9,459 TOTAL OVERLAPPING GENERAL FUND DEBT 15,882,501$
Less: Santa Clara County supported obligations (26,627) COMBINED TOTAL DIRECT AND OVERLAPPING DEBT 125,659,179$ (2) TOTAL NET DIRECT AND OVERLAPPING BONDED DEBT 125,632,552$ (1) Percentage of overlapping agency's assessed valuation located within boundaries of the project area (2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations Ratios to 2023-24 Assessed Valuation :
Combined Total Direct and Overlapping Debt 1.90%
Net Combined Total Direct and Overlapping Debt 1.90%
SUCCESSOR AGENCY OF THE CITY OF SANTA CLARA
BAYSHORE NORTH PROJECT AREA
COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT
June 30, 2024
4. Computation of Direct and Overlapping Bonded Debt
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