Suisun City City Council
October 20, 2026

278

CITY OF SUISUN CITY

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2025

TABLE OF CONTENTS CONTINUED

SUPPLEMENTARY INFORMATION
Nonmajor Governmental Funds:

Combining Balance Sheet s .................................................................................................... 114 Combining Statement s of Revenues, Expenditures and Changes in Fund Balances .................. 125 Combining Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis) ...................................................... 136 Major Fund Supplemental Budgetary Schedules:

Combining Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis)
Municipal Facilities and Equipment Fund ................................................................... 188 Proprietary Funds:

Combining Statements - Internal Service Fund
Combining Statement of Net Position .............................................................................. 1 90 Combining Statement of Revenues, Expenses, and Changes in Net Position ...................... 1 91 Combining Statement of Cash Flows ............................................................................... 192 Custodial Funds :

Combining Statement of Fiduciary Net Position .................................................................... 194 Combining Statement of Changes in Fiduciary Net Position ................................................... 198

STATISTICAL SECTION
Net position by Component ........................................................................................................ 207 Changes in Net position .............................................................................................................. 208 Fund Balances of Governmental Funds ....................................................................................... 209 Changes in Fund Balances of Governme ntal Funds ...................................................................... 2 10 Net Assessed and Estimated Actual Value of Property ................................................................. 2 11 Property Tax Levies and Collections ........................................................................................... 212 Property Tax Rates Direct and Overlapping Governments ........................................................... 213 Principal Taxpayers .................................................................................................................... 214 Ratio of Net General Obligation Bonded Debt to Assessed Value and Net General Obligation on Bonded Debt Per Capita ............................................................... 215 Ratio of Annual Debt Service Expenditures for General Obligation Bonded Debt to Total General Government Expenditures ....................................................... 216 Ratios of Outstanding Debt by Type ........................................................................................... 217 City Computation of Legal Debt Margin ..................................................................................... 218 Schedule of Direct and Overlapping Debt ................................................................................... 219 Demograp hic Statistics ............................................................................................................... 2 20 Principal Employers ................................................................................................................... 2 21 Full -T ime Equivalent Employees by Function ............................................................................. 2 22 Oper ating Indicators by Function ................................................................................................ 223 Special Assessm ent Billings and Collections ............................................................................... 224 Miscellaneous Statistics ............................................................................................................. 225

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City of Suisun City Transmittal Letter

CITY OF SUISUN CITY
701 Civic Center Blvd.

Suisun City, California 94585
Incorporated October 9, 1868
July 27, 2026
To the Honorable Mayor, Members of the City Council, and Residents of Suisun City, California:

The Annual Comprehensive Financial Report (ACFR) with the independent auditor’s report of the City of Suisun City for the fiscal year ended June 30, 2025 (FY 2024–25) is hereby submitted. The report is submitted in compliance with California Government Code Sections 25250 and 25253. The Finance Department prepared the ACFR in conformance with the principles and standards for financial reporting set forth by the Governmental Accounting Standards Board (GASB).

Responsibility for both the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures, rests with City management. To the best of our knowledge and belief, the enclosed data are accurate in all material respects and are reported in a manner designed to present fairly the financial position and results of operations of the various funds of the City. All disclosures necessary to enable the reader to gain an understanding of the City’s financial activities have been included. Please read this in conjunction with the Management’s Discussion and Analysis of the City of Suisun City’s financial activities and performance for the fiscal year ended June 30, 2025, which can be found immediately following the report of the independent auditors.

The City is required to undergo an independent, annual single audit in conformity with the provisions of the Single Audit Act of 1996 and the U.S. Office of Management and Budget Compliance Supplement. Information related to this independent, single audit, including a schedule of expenditures of federal awards, is included in a separately issued report.

The City of Suisun City provides a full range of services, including police and fire protection, planning, building inspection, parks and recreation facilities and services, and the construction and maintenance of streets, public buildings, and infrastructure. The City Council also serves as

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City of Suisun City Transmittal Letter
the governing body for the Housing Authority of the City of Suisun City, the Successor Agency to the Redevelopment Agency, and several special assessment districts. These activities are included in the City’s financial statements as part of the reporting entity.

Key Financial Report Sections
• The Introductory Section provides information about the City’s organizational structure, local economy, major initiatives, status of City services, and cash management. • The Financial Section includes the Management’s Discussion and Analysis (MD&A), Basic Financial Statements including government-wide and fund-level financial statements, and the independent auditor’s report.
• The Statistical Section contains up to ten years of historical financial data and miscellaneous economic information in conformance with GASB Statement No. 44.

FY 2024-25 FINANCIAL HIGHLIGHTS AT A GLANCE
Category Amount / Metric Notes
Total Citywide Revenue $43.3 million All City operations General Fund Revenues $23.0 million Excluding Transfers In From Other Funds
General Fund Expenditures $26.4 million Core City Operations, Excluding Transfers In
From Other Funds
General Fund Emergency
Reserve
$8.9 million (34%) Exceeds 20% policy
requirement
Audit Result Unmodified (“Clean”)
Opinion
Issued by Chavan &
Associates, LLP
Measure S Renewal 1.75% total rate / 15-year
sunset
Extends vital revenue
source for public safety
and infrastructure

ECONOMIC CONDITION AND OUTLOOK
Suisun City, with a population of approximately 29,000, continues to be influenced by regional economic conditions in Solano County and the greater Bay Area. During FY 2024-25, the City experienced moderate economic growth, supported by housing market stability and new residential and commercial development projects.

The local housing market maintained steady momentum during FY 2024-25, with the median home price exceeding $560,000 and average homes selling within 25–35 days. New housing

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developments such as Almond Gardens Apartments and Lotz Way Homes are adding diverse housing options to the local economy.

The City has Seventeen (17) infill projects in various stages of development. At full build out those projects are estimated to generate $5M to $6M in total annual revenue between property tax, sales taxes (both Bradley Burns and Measure S) and TOT. In FY 2024-25 most of these projects are in the application phase and working through the approval process. It is currently estimated that these projects will be constructed between 2026 through 2031 when the full revenue is expected to be realized.

Despite these positive trends, the City continues to face structural challenges due to its limited retail and industrial tax base relative to neighboring communities. Retail leakage and shifts in post-pandemic consumer behavior remain ongoing fiscal pressures. The renewal of Measure S in November 2024, raising the local sales tax rate to 1.75%, was critical in addressing these challenges and ensuring continued support for public safety, infrastructure repair, and community services. The above-mentioned development plans need to come to fruition to fully realize this multi-year plan.

Long-term financial stability will depend on sustained development, prudent cost management, and new revenue strategies to offset the sunset of temporary funding sources. Suisun City’s strategic location along the Interstate 80 corridor positions it well to benefit from Solano County’s broader economic expansion in logistics, housing, and infrastructure investment, while its waterfront and historic downtown remain key anchors for future revitalization.

Financial Management and Internal Controls
The City maintains a comprehensive system of internal controls to safeguard assets and ensure accurate financial reporting in accordance with Generally Accepted Accounting Principles (GAAP). The system provides reasonable assurance, balancing cost-effectiveness with reliability. Budgetary controls are maintained at the department level, with the City Council retaining authority to amend appropriations.

The City’s Financial Policies require maintaining a minimum 20% General Fund emergency reserve. For FY 2024–25, the reserve stands at 34% of operating expenditures, demonstrating fiscal discipline and preparedness.

Local Developments – City staff worked proactively to bring in new projects. Perhaps, there are more projects either planned, in process, or completed in Suisun City than at any time in the last twenty years. Additional details about development projects can be found on the City’s website.

The graph timeline below is projected in months.

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City of Suisun City Transmittal Letter

FINANCIAL INFORMATION
The City maintains a comprehensive system of internal controls to safeguard assets and ensure accurate financial reporting in accordance with Generally Accepted Accounting Principles (GAAP). The system provides reasonable assurance, balancing cost-effectiveness with reliability. Budgetary controls are maintained at the department level, with the City Council retaining authority to amend appropriations.

The City’s Financial Policies require maintaining a minimum 20% General Fund emergency reserve. For FY 2024-25, the reserve stands at 34% of operating expenditures, demonstrating fiscal discipline and preparedness.

Budgeting Controls
The City of Suisun City maintains budgetary controls to ensure compliance with legal provisions embodied in the appropriate annual budget approved by the City Council. Activities of the General Fund, special revenue funds, debt service funds, and internal service funds are included in the adopted annual budget. The City’s level of budgetary control is maintained at the fund level, where expenditures cannot legally exceed the appropriated amounts.

Only the City Council has the authority to increase appropriations by fund, subject to the appropriation limits established by State law. The City Council did approve supplemental appropriation increases during the year. Encumbrance accounting, a system where unperformed contracts and commitments to purchase are recorded against appropriations, is not used by the City. As demonstrated by the statements and schedules included in the financial section of this report, the City continues to meet its responsibility for sound financial management.

Fiscal Management
It is the City’s policy to minimize the subsidization by the general taxpayer of the costs of services provided to the public that are of specific benefit, rather than general benefit. In addition, community facilities districts (CFD), maintenance assessments districts (MAD), and a parking assessment district (PAD) are used to offset 100 percent of zone costs for maintenance of public improvements that serve new developments.

Consistent with the State Constitution, charges for services will not exceed the cost reasonably borne to deliver those services. Costs reasonably borne may include direct and in-direct costs.

Whenever required by bond indentures, the City will determine whether debt-service coverage ratios are being met. Whenever coverage ratios are not being met, the staff will recommend rate increases or expenditure reductions or some combination of the two to meet coverage ratios.

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City of Suisun City Transmittal Letter

OTHER INFORMATION
Independent Audit
The City Council engaged Chavan & Associates, LLP (C&A LLP) to conduct the independent audit of the City’s financial statements. The auditors issued an unmodified (“clean”) opinion, confirming that the statements present fairly the City’s financial position and results of operations for the year ended June 30, 2025.

Acknowledgments
The preparation of this Annual Comprehensive Financial Report was made possible through the dedicated efforts of the Finance Department staff. We extend our gratitude to all team members for their professionalism and commitment to transparency. We also thank Chavan & Associates, LLP and Beauchaine Consulting Group, LLC for their professional support, and the Mayor and City Council for their continued leadership and fiscal stewardship.

Respectfully submitted,
Elizabeth Luna
Interim Finance Director

Position Name
Mayor Alma Hernandez
Mayor Pro-Tem Jenalee Dawson
Councilmember Amit Pal
Councilmember Parise Shepherd
Councilmember Princess Washington
Position Name
City Manager Bret Prebula
City Clerk Anita Skinner
City Treasurer Michael McMurry
Position Name
Police Chief Aaron Roth
Fire Chief Brad Lopez
Building & Public Works Director Nouae Vue
Recreation & Community Services Director Janet Hull
Finance Director Lakhwinder Deol
Development Services Director Jim Bermudez
Human Resources Administrator Christina Penland
Administrative Team
City of Suisun City
Annual Comprehensive Financial Report
For the year ended June 30, 2025

PRINCIPAL OFFICIALS
City Council
Elected and Appointed Officials

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City of Suisun City
Annual Comprehensive Financial Report
For the year ended June 30, 2025

CITYWIDE ORGANIZATION

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City of Suisun City
Comprehensive Annual Financial Report
For the year ended June 30, 2025

LOCATION MAP

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FINANCIAL SECTION

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16450 Monterey Road, Suite #5, Morgan Hill, CA 95027
Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
INDEPENDENT AUDITOR’S REPORT

To the Honorable Mayor and Members of the
City Council of the City of Suisun City
City of Suisun City, California

Report on the Financial Statements

Opinion

We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Suisun City (the “City"), as of and for the year ended June 30, 2025 , and the related notes to the financial statements, which collectively comprise City’s basic financial statements as listed in the table of contents.

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Suisun City , as of June 30, 2025 , and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions

We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) 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.

Responsibilities of Management for the Financial Statements

City 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 for the 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.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our 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 GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from

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16450 Monterey Road, Suite #5, Morgan Hill, CA 95027
Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
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.

In performing an audit in accordance with GAAS and GAGAS, we:

• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.

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

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, budgetary comparison information, schedule of pension plan contributions, schedule of proportionate share of net pension liabilities , and schedule of changes in total OPEB liability , 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 it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Supplementary Information

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The combining and individual fund financial statements, schedules, and other information listed in the supplementary information section of the table of contents 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

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16450 Monterey Road, Suite #5, Morgan Hill, CA 95027
Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
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 GAAS. In our opinion, the combining and individual fund financial statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

Other Information

Management is responsible for the other information included in the annual comprehensive financial report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor’s report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards , we have also issued our report dated September 2, 2026, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters.

The purpose of that report is 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 the City’s internal control over financial reporting and compliance.

September 2, 2026
Morgan Hill, California

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MANAGEMENT’S DISCUSSION

AND ANALYSIS

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City of Suisun City Management’s Discussion and Analysis

INTRODUCTION
The Management’s Discussion and Analysis (MD&A) is a required section of the City’s Comprehensive Annual Financial Report, as shown in the overview below. The purpose of the MD&A is to present a discussion and analysis of the City’s financial performance during the fiscal year that ended on June 30, 2025. This report will (1) focus on significant financial issues, (2) provide an overview of the City’s financial activity, (3) identify changes in the City’s financial position, (4) identify any individual fund issues or concerns, and (5) provide descriptions of significant asset and debt activity.

This information, presented in conjunction with the Basic Financial Statements, is intended to provide a comprehensive understanding of the City’s operations and financial standing.

Required Components of the Annual Financial Report
FISCAL YEAR 2024/25FINANCIAL HIGHLIGHTS
 Total net position decreased by $4.23 million from last fiscal year due primarily to a decrease in program revenues of $1.97 million and an increase in expenses of $4.12 million.  The City's assets and deferred outflows of resources exceeded its liabilities and deferred inflows of resources by $148.13 million; assets and deferred outflows of resources totaled $192.84 million and liabilities and deferred inflows of resources were $44.71 million.  Net position included $122.42 million classified as net investment in capital assets; $39.39 million as restricted; and $13.68 million as a deficit unrestricted net position (negative unrestricted net position).
 Total city-wide revenues were $43.29 million which included program revenue of $22.40 million and general revenues of $20.89 million.
 Total City expenses were $47.51 million vs. $43.40 million in the prior year.  Total Governmental fund balances were $37.18 million, which included a $8.86 million fund balance in the General Fund. Total fund balance decreased by $3.91 million from last year.  General Fund revenues were $23.03 million, while General Fund expenditures were $26.38 million.

Transfers into the General Fund from other funds were $ 2.06 million and transfers out totaled $942,528.

Management’s
Discussion & Analysis
Government-Wide
Financial Statements
Fund
Financial Statements
Notes to the
Financial Statements
Basic
Financial Statements

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City of Suisun City Management’s Discussion and Analysis

THE BASIC FINANCIAL STATEMENTS
The Basic Financial Statements are comprised of 1) Government-wide (city-wide) Financial Statements, and 2) Fund Financial Statements. These two sets of financial statements provide the reader with two different perspectives of the City's financial activities and financial position.

Government-Wide Financial Statements provide a longer-term view of the City's activities as a whole, and comprise the Statement of Net Position and the Statement of Activities. T he Statement of Net Position provides information about the financial position of the City as a whole, including all its capital assets and long-term liabilities on a full accrual basis, similar to that used by corporations. The Statement of Activities provides information about all the City's revenues and all its expenses, also on a full accrual basis, with the emphasis on measuring net revenues and/or expenses for each of the City's programs. The Statement of Activitiesexplains in detail the change in Net Positionfor the fiscal year.

All of the City's activities are required to be grouped into government activities and business-type activities.

The entire amount in the Statement of Net Position and the Statement of Activities are also required to be separated into governmental activities or business-type activities in order to distinguish between these two types of activities of the City.

Fund Financial Statementsreport the City's operations in more detail than the government-wide statements and focus primarily on the short-term activities of the City's general fund and other major funds. The Fund Financial Statements measure only current revenues and expenditures and fund balances; they exclude capital assets, long-term debt, and other long-term amounts.

Major funds account for the major financial activities of the City and are presented individually, while the activities of non-major funds are presented in summary, with subordinate schedules presenting the detail for each of these other funds. Major funds are explained below.

The Government-Wide Financial Statements
Government-wide financial statements are prepared on the accrual basis, which means they measure the flow of all economic resources of the City as a whole. The Statement of Net Position and the Statement of Activitiespresent information about the following:

Governmental Activities – All of the City's basic services are governmental activities, including general government, public safety, public works, highway and streets, building services, culture and recreation, and community development. T hese services are supported by general City revenues such as taxes, and by specific program revenues such as developmentand recreation program fees.

Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. T he City, like other local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Fund financial statements provide detailed information about each of the City's most significant funds, called major funds. The concept of major funds, and the determination of which are major funds, was established by GASB Statement 34 and replaces the concept of combining like funds and presenting them in total.

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City of Suisun City Management’s Discussion and Analysis Instead, each major fund is presented individually, with all non-major funds summarized and presented only in a single column. Subordinate schedules present the detail of these non-major funds. Major funds present the major activities of the City for thefiscal year, and may change from year to year as a result of changes in the pattern of the City's activities. The City's funds are segregated into three categories: governmental funds, proprietary funds, and fiduciary funds.

Governmental Funds – The City's basic services are reported in governmental funds, which focus on how money flows into and out of those funds and the balances available at year-end. Financial statements are prepared on the modified accrual basis, which means they measure only current financial resources and uses.

Carrying amounts for capital assets and other long-lived assets, along with long-term liabilities are not presented on the balance sheet in the governmental fund financial statements. Unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year.

Such information may be useful in evaluating the City's near-term financing requirements.

Proprietary Funds – The City uses internal service funds to report activities that provide supplies and services for the City’s other programs and activities such as the City’s self-insurance, motor vehicle repair, motor vehicle replacement, network maintenance and public works operating costs. The internal services funds are reported with governmental activities in the Government-Wide Financial Statements.

Fiduciary Funds – Fiduciary funds are used to account for resources held for the benefit of parties outside the City. Fiduciary funds are not reported in the Government-Wide financial statements because the resources of these funds are not available to support the City of Suisun City’s own programs. T he accounting for fiduciary funds is much like that used for business type activities.

NOTES TO THE FINANCIAL STATEMENTS
Notes to the Financial Statements provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. T he notes can be found immediately following the fund financial statements.

REQUIRED SUPPLEMENTARY INFORMATION
Required supplementary information other than through the MD&A follows the Notes and includes a pension plan and other postemployment benefits information.

SUPPLEMENTARY INFORMATION
Combining and individual fund statements and schedules are included to provide additional information on non -major governmental funds including special revenue, debt service, capital project funds, proprietary internal service fund information and custodial funds. A n un -audited statistical section provides historical and current data on financial trends, revenue and debt capacity, demographic and economic information, and operating information.

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City of Suisun City Management’s Discussion and Analysis

GOVERNMENT-WIDE FINANCIAL ANALYSIS
Over time, net positionmay serve as an indicatorof the City's financial position. The City's Total Net Position decreased by $4.23 million, from $152.36 million in fiscal year 2023/24 to $148.13 million in fiscal year 2024/25. A significant portion of the City's net position($122.42million) was net investment in capital assets, (e.g., land, buildings, general government infrastructure, equipment, etc.) which is capital assets net of accumulated depreciation and reduced by any related debt used to acquire or construct those assets. Capital assets represent infrastructure which provide services to citizens andare not available for future spending.

GASB Statement No. 68 and 75 require local governments to report their proportionate share of net pension liability and other postemployment benefits (OPEB) liability. The City participates in the miscellaneous and safety pension plan with CalPERS and a single-employer OPEB plan. As of June 30, 2025, The City’s net pension liability was $24.87 million and its total OPEB liability was $3.39 million. In addition to these liabilities, the City recorded deferred outflows of resources of $8.53 million and deferred inflows of resources of $2.15 million related to employee benefit plans. Deferred outflows or resources are technically not assets but increase the Statement of Net Position similar to an asset and deferred inflows of resources are technically not liabilities but decrease the Statement of Net Position similar to liabilities.

See Note 1 in the notes to the financial statements for a definition.

The following table summarized the City’s ending net position:

Percent
2025 2024 Change
Assets
Current and other asse ts 53,807,582$ 56,533,076$ -4.82% Capital as sets 130,498, 995 129,670, 557 0.64%
Total Assets 184,306, 577$ 186,203, 633$ -1.02%
Deferred Outflows of Resources 8,528,656$ 10,738,983$ -20.58% Liabilities
Current and other liab ilit ies 5,584,939$ 4,401,045$ 26.90% Noncurrent liab ilit ies 36,913,795 37,771,662 -2.27% Total Liabilities 42,498,734$ 42,172,707$ 0.77%
Deferred Inflows of Resources 2,208,279$ 2,414,181$ -8.53% Net Position
Net investment in capital as sets 122,421, 471$ 120,756, 670$ 1.38% Restricted 39,390,897 40,812,124 -3.48%
Unrestricted (13,684,148) (9,213,066) -48.53%
Total Net Position 148,128, 220$ 152,355, 728$ -2.77%
Table 1 - Ne t Position
Governmental Activities

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City of Suisun City Management’s Discussion and Analysis Governmental Activities
As shown in the Statement of Changes in Net Position schedule below, the net change in program revenues from the prior fiscal year for governmental activities was a decrease of 7.42%. The net change in general revenues from the prior year was an increase of 7.59% for a total decrease in revenues of .74%.

The net change in expenses from the prior year was an increase of 9.49%.

With total program and general revenues for fiscal year 2024/25 at $43.28 million and total expenses at $47.51 million, the change in net position for current activity was a decrease of $4.23 million.

An analysis of the changes in revenues and expenses by type of significant events follows:

Percent
Functions/Programs 2025 2024 Change
Program Revenues
Charges for services 10,838,242$ 13,276,143$ -18.36% Operating grants and contributions 8,654,341 7,564,567 14.41% Capital grants and contributions 2,904,882 3,350,796 -13.31% Total Program Revenues 22,397,465 24,191,506 -7.42% General Revenues
Taxes 12,938,224 12,250,148 5.62%
Motor vehicle fees 3,196,331 3,057,383 4.54% Investment earni ngs 1,584,715 1,631,240 -2.85% Other revenues 3,167,961 2,475,743 27.96% Total General Revenues 20,887,231 19,414,514 7.59% Expenses
General government 10,990,971 9,815,389 11.98% Publ ic safety 19,105,902 17,073,352 11.90%
Publ ic works 4,363,364 4,493,783 -2.90% Highways and streets 4,720,708 4,125,587 14.43% Buildin g services 2,080,825 1,978,207 5.19% Culture and recreation 4,066,796 3,730,227 9.02% Community development 1,917,910 1,748,599 9.68% Interest expense 265,728 430,732 -38.31% Total Expenses 47,512,204 43,395,876 9.49%
Increas e / (Decrease) in Net Positio n (4,227,508) 210,144 -2111.72% Net Position, Beginning of Year 152,355,728 152,145, 584 0.14% Net Position, End of Year 148,128,220$ 152,355, 728$ -2.77% Table 2 - Statement of Changes in Net Position
Governmental Activities

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City of Suisun City Management’s Discussion and Analysis Governmental Revenues
The following chart summarizes the changes in revenues by category from fiscal year 2023/24 to 2024/25:

Significant changes in governmental revenues consisted of the following:
 Charges for services decreased by 18.36%, primarily attributed to a decrease in Development Impact Fees.
 Operating grants and contributions increased by 14.41% due to an increase in General Government Grants.
 Capital grants and contributions decreased by -13.31% primarily affected by a decrease in Highway and streets grant funding.
 Taxes increased by 5.62% resulting from steady gains in property taxes, sales taxes, and franchise fees.  Motor vehicle fees increased by 4.54% year over year.  Other revenue increased by 27.96% most from changes in unavailable revenues as prior year deferrals were recognized in the current fiscal year.
 Investment earnings decreased by 2.85%, most of which was related to a decrease in average investment balances.

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City of Suisun City Management’s Discussion and Analysis Governmental Expenses
From fiscal year 2023/24 to 2024/25 expenses for Governmental Activities increased by $9.47 million as illustrated in the chart below:

Significant changes in governmental expenses consisted of the following:
 General Government expenses increased by 11.98% mainly from an increase in general administrative services, primarily employee costs, as well as professional services related to software implementation.
 Public Safety expenses increased by 11.9% which is mainly attributed to an increase in public safety services employee costs, benefits, and pension expense adjustments for unfunded liabilities, as well as increased insurance and professional services expenses.  Public Works expenses decreased by 2.9% which is mainly attributed to noncapitalized capital projects, employee costs, and benefit plan adjustments, and insurance expense.  The increase to Highway and Streets expenses of 14.43% is mostly attributed and increase to employee costs and benefit plan adjustments.
 Building Services expenses increased by 5.19% mostly due to increase in cost of services related to salaries and benefit plan adjustments.
 Culture and Recreation expenses increased by 9.02%, mostly due to increase in cost of services, salaries and benefit plan adjustments.
 Community Development expenses increased by 9.68% mostly due to increased professional services costs related to reimbursable development activities.
 Interest expense decreased by 38.31% mostly from interest associated with leases and subscriptions and a reduction in debt service requirements over time.

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City of Suisun City Management’s Discussion and Analysis FINANCIAL ANALYSIS OF THE CITY’S FUNDS
A summary of the changes in fund balance of the Major Funds and Other G overnmental Funds is presented below:

The total fund balance, which includes Major Funds and Other Governmental Funds, decreased by $3.91 million during the year. Total ending fund balance was $37.18 million.

Housing Housing
Off-site Authori ty Authority
General Street Speci al Choice
Fund Improvement Revenue Vouchers
Total Revenues 23,034,758$ 249,968$ 902,093$ 4,132,913$ Total Expenditures 26,384,222 121,497 827,114 3,964,109 Revenues Over
(Under) Expenditures (3,349,464) 128,471 74,979 168,804 Other fi nanci ng sources - - - - Payments from Successo r Agency - - - - Transfers in 2,062,602 - - - Transfers out (942,528) (30,938) (65,000) - Net change in fund ba lan ces (2,229,390) 97,533 9,979 168,804 Beginning of year 11,085,514 4,668,399 10,973,348 22,316 End of year 8,856,124$ 4,765,932$ 10,983,327$ 191,120$ Municipal
Facilit ies Nonmajo r
and Local Governmental
Equipment Transporation Funds Total
Total Revenues 501,617$ 3,394,579$ 10,784,236$ 43,000,164$ Total Expenditures 53,622 4,513,360 11,046,800 46,910,724 Revenues Over
(Under) Expenditures 447,995 (1,118,781) (262,564) (3,910,560) Other fi nanci ng sources - - - - Payments from Successo r Agency - - - - Transfers in - 674,076 1,654,136 4,390,814 Transfers out (382,567) - (2,969,781) (4,390,814) Net change in fund ba lan ces 65,428 (444,705) (1,578,209) (3,910,560) Beginning of year (65,428) 1,058,872 13,351,721 41,094,742 End of year -$ 614,167$ 11,773,512$ 37,184,182$ Table 3 - Summary of Changes in Fund Balance - Governmental Funds Major Funds
Major Funds

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City of Suisun City Management’s Discussion and Analysis Governmental Funds
 The General Fund balance decreased by approximately $2.23 million during fiscal year 2024–25. Total revenues increased from the prior year, primarily due to higher charges for services, permits and licenses, and investment earnings. Total expenditures also increased, driven primarily by higher public safety costs, increased administrative expenditures, and additional capital outlay, along with increases in recreation and community development activities.  The fund balance of the City’s Off-site Street Improvement Fund increased by $97,533. Total revenue decreased by $497,430 while total expenditures increased by $39,067. The decrease in revenues is due to decreased development activity and associated development impact fees.  The fund balance of the City’s Housing Authority Special Revenue Fund increased by $9,979. Total revenue increased by $248,854 because of increased HAP reimbursements, while total expenditures decreased by $15,727 due to various expenditures fluctuations.  The fund balance of the City’s Housing Authority Choice Vouchers Fund increased by $168,804. Total revenue increased by $638,216 while total expenditures increased by $505,918 from the prior year.

Revenue and expenditure gains are both resulting from increased activity in the Housing Voucher grants and program participants.
 The fund balance of the City’s Municipal Facilities and Equipment Fund increased by $65,428.

Total revenue and total expenditures changed by less than 1% over the prior year.  The fund balance in the Local Transportation Fund decreased by $444,705. This decrease in fund balance was mostly attributed to use of fund balance, or advanced funding for capital project expenditures.
 The fund balance of the City’s non-major funds de creased by $1.58 million. Total revenue decreased by $538,797 mainly due to the phase out of one-time revenues, including ARPA. Total expenditures increased by $627,702 mostly due to an increase in expenditures in the special revenue funds for projects and programs

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City of Suisun City Management’s Discussion and Analysis

CAPITAL ASSETS
The capital assets of the City are those assets which are used in the performance of the City’s functions, including infrastructure assets. As of June 30, 2025, net capital assets from governmental activities totaled $130.50 million. Depreciation for capital assets is recognized in the Government-Wide Financial Statements and the Proprietary Fund Statements. The City has elected to use straight line depreciation as defined by GASB Statement No. 34 for calculation of depreciation. The following table summarizes the City’s capital assets at the end of the year:

Additional detail and information on capital asset activity is described in note 5 to the financial statements.

DEBT ADMINISTRATION
During the year, long-term debt from governmental activities decreased by $837,129 primarily due to scheduled debt service payments.

The following table summarizes the City’s debt at the end of the year:

Additional detail and information on long-term debt activity is described in note 6 to the financial statements.

Percent
2025 2024 Change
Land and i mprovement 44,533,706$ 44,533,706$ 0.00% Construction-in-Progress 5,324,951 957,571 456.09% Buildin gs 14,121,016 14,708,171 -3.99%
Buildin gs and i mprovements 702,978 644,716 9.04% Vehicle , machi nes and equipment 9,709,893 10,947,542 -11.31% Infrastructure 16,503,152 20,875,360 -20.94%
Streets-Pavement System 38,071,775 34,975,662 8.85% Right of use asse ts 1,531,524 2,027,829 -24.47% Total Capital Assets, Net 130,498, 995$ 129,670, 557$ 0.64% Table 4 - Capital Assets at Year End - Net
Governmental Activities
Percent
2025 2024 Change
Lease Liab ilit ies 1,092,554$ 1,425,353$ -23.35%
Financed Purcha ses 5,580,516 5,827,044 -4.23%
Subscri ption Based Information
Technol ogy Agreements 447,915 608,193 -26.35% PG&E On-Bi ll Financing Loan 126,944 146,728 -13.48% North Bay Aqueduct Agreement 829,595 907,335 -8.57% Total outstanding long-term debt 8,077,524$ 8,914,653$ -9.39% Table 5 - Outstanding Long-Term Debt at Year End
Governmental Activities

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City of Suisun City Management’s Discussion and Analysis

GENERAL FUND BUDGETARY HIGHLIGHTS
Changes from the City's General Fund original budgeted to the final budgeted revenues are summarized as follows:

Changes from the City's General Fund original budgeted to the final budgeted expenditures are summarized as follows:

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City of Suisun City Management’s Discussion and Analysis Changes to the City's budget that increase or decrease appropriations in a fund must be approved by a resolution of the City Council. Modifications to the budget that are a realignment of fiscal activities with no impact to the fund's bottom line may be approved by the City Manager.

Appropriations in the General Fund were increased by $1.25 million during the year. The General Fund final revenue budget was $22.23 million. The General Fund final expenditure budget was $28.76 million.

The actual revenues were more than budgeted revenue by $805,374 primarily due to an increase in property taxes of $362,709, sales taxes of $124,348, and investment earnings of $296,383. The actual expenditures were less than budgeted expenditures by $2.37 million primarily because public safety expenditures were $1.62 million less than budgeted and capital outlay expenditures were $489,066 less than budgeted.

ECONOMIC OUTLOOK
Suisun City, located in Solano County, California, continued to experience stable economic conditions during 2025 despite ongoing economic uncertainty at the regional and national levels. Moderating inflation, elevated interest rates, and continued housing affordability challenges influenced the local economy, while slowing employment growth and cautious consumer spending tempered the pace of economic expansion. Despite these headwinds, the City's strategic location within Solano County continues to support a diverse mix of residential, commercial, and industrial development that contributes to long-term economic resilience.

Suisun City remains well positioned within the Interstate 80 corridor, providing convenient access to both the San Francisco Bay Area and the Sacramento metropolitan region. The City's comparatively affordable housing, combined with its established neighborhoods, waterfront amenities, and proximity to major employment centers, continues to make it an attractive community for residents and businesses. Ongoing investment in public infrastructure and community development supports the City's long-term economic vitality.

The City's tax base remained stable during 2025, supported by continued growth in assessed property values despite a more moderate real estate market. While economic conditions continue to present challenges for households and businesses, including higher financing, insurance, and operating costs, the City remains committed to maintaining sound fiscal management and strategic investments that preserve financial stability and support future growth.

Housing Market Conditions
The housing market in Suisun City remained relatively stable throughout 2025, although elevated mortgage interest rates and continued affordability challenges moderated sales activity and home price appreciation compared to previous years. Limited housing inventory continued to support residential property values, while higher borrowing costs reduced purchasing power for many prospective homebuyers. As a result, homes generally remained on the market longer than during the highly competitive post-pandemic market.

Housing affordability continued to be a significant challenge throughout California, driven by elevated home prices, financing costs, insurance premiums, and construction expenses. Despite these pressures, Suisun City remained comparatively more affordable than many neighboring Bay Area communities, making it an attractive option for residents seeking more attainable housing while maintaining access to

308
City of Suisun City Management’s Discussion and Analysis regional employment centers. Continued stability in residential property values contributed to growth in the City's assessed valuation and supported the local property tax base.

Revenue Sources
Tax Revenues: Property and sales taxes remain Suisun City’s primary General Government revenue sources. Property tax revenues benefited from stable housing values, while sales tax, including Measure S, now extended and increased to 1.75% with a 15-year sunset, continues to provide essential support for city operations. The additional 0.75% approved in 2024 is projected to generate approximately $3 million annually in new revenues.

State and Federal Funding: While federal pandemic relief through the American Rescue Plan Act (ARPA) has concluded, the City continues to secure grants for infrastructure, public safety, and community services. These one-time funds provided budgetary relief but are not a sustainable long- term revenue stream.

Local Fees and Charges: Revenues from permits, licenses, and municipal services remain steady, supporting the City’s financial health. Charges fir service are reviewed annually to confirm the cost recovery rate.

Expenditure Patterns
City expenditures continue to prioritize core public services, including public safety, infrastructure, and community services. Salary adjustments for employee retention and rising CalPERS pension contributions remain structural pressures on the General Fund, as well as the City’s special revenue and assessment district funds . One-time ARPA allocations supported capital projects, ERP system upgrades, and employee premium pay, but the phase-out of federal relief funding highlights the importance of developing long- term, recurring revenue.

Economic Outlook of Solano County and California
Solano County’s economic outlook in 2026 reflects modest growth amid continued economic uncertainty.

Key sectors, including healthcare, logistics, advanced manufacturing, defense, and government, remain the foundation of the local economy, supported by the county’s strategic location between the San Francisco Bay Area and Sacramento and the continued presence of Travis Air Force Base. While labor market conditions remain relatively stable, job growth has moderated as employers respond cautiously to higher operating costs and broader economic uncertainty.

Major employers such as NorthBay Health, Anheuser-Busch, Travis Air Force Base, and local public agencies continue to provide employment stability. Demand for healthcare services and logistics operations remains steady, although commercial and industrial expansion has slowed as businesses contend with elevated financing costs, labor shortages in select industries, and ongoing regulatory challenges.

Inflation has moderated from its post-pandemic highs but continues to place pressure on household budgets through elevated housing, insurance, energy, and utility costs. Housing affordability remains one of the county’s most significant long-term challenges, with limited housing inventory and higher mortgage rates constraining homeownership opportunities and workforce mobility. Despite these headwinds, the

309
City of Suisun City Management’s Discussion and Analysis County's property tax base has remained resilient, with assessed valuation continuing to increase and providing a stable source of local revenue that supports essential public services.

California’s economy remains the largest in the nation, but economic growth in 2026 is anticipated to increase at a measured pace. While inflation has eased compared to prior years, higher interest rates, fiscal constraints, and slowing employment growth have tempered business expansion and consumer spending. Continued investment in healthcare, infrastructure, clean energy, and advanced technology is expected to support long-term economic growth; however, affordability, workforce availability, and housing supply remain ongoing challenges for both the state and Solano County.

Measure S+ and Fiscal Stability
The renewal and expansion of Measure S to 1.75% is a critical bridge in Suisun City’s long-term fiscal strategy. The additional revenues provide temporary stability, supporting ongoing employee compensation adjustments, modest service enhancements, and targeted one-time projects. However, Measure S+ alone cannot fully resolve the City’s structural revenue challenges. Development activity, particularly commercial and industrial projects, remain essential to creating sustainable, long-term revenue sources. Without timely development, the City may need to explore other local revenue measures, including dedicated public safety funding or adjustments to real estate transfer taxes.

Fiscal Position
The City's financial position remained stable during fiscal year 2024–25 despite continued economic challenges. The General Fund benefited from strong sales tax and property tax revenues, with property tax collections exceeding the final budget by approximately $363,000 and sales tax revenues exceeding budget by approximately $124,000. These favorable revenue trends helped offset lower-than-anticipated transient occupancy tax revenues and supported the continued delivery of essential municipal services.

As of June 30, 2025, the General Fund reported a fund balance of approximately $8.9 million.

Governmental activities reported total net position of $148.1 million, including $122.4 million invested in capital assets. During the year, the City's capital assets increased to approximately $130.5 million, reflecting continued investment in infrastructure and capital improvement projects. Total outstanding long-term debt declined by approximately 9.4%, from $8.9 million to $8.1 million, as scheduled debt service payments continued to reduce the City's long-term obligations.

Long-term pension obligations continue to represent a significant financial commitment for the City.

While CalPERS investment performance and actuarial assumptions continue to influence annual pension costs, the City remains committed to prudent financial management and long-term fiscal planning to address retirement obligations while maintaining essential public services.

Development and Economic Growth
Suisun City is pursuing development on two parallel tracks. The first is conventional infill: a pipeline of small- to mid-size housing, mixed-use, and commercial projects on vacant and underused parcels within the existing city limits, concentrated downtown, along the Waterfront District, and near Main Street. The second is transformational: the Suisun Expansion Project, a proposed annexation of up to approximately 22,873 acres of adjacent unincorporated land sponsored by California Forever, LP, which would ultimately

310
City of Suisun City Management’s Discussion and Analysis grow the city from roughly 29,000 residents to as many as 400,000 over multiple decades. Both tracks are active as of July 2026, with the expansion project in the environmental review and application phase and infill projects moving through permitting and construction.

The Development Services Department continues to advance a steady pipeline of infill projects, most concentrated in the historic downtown, the Waterfront District, and along Main Street.

Beyond individual projects, the City's long-adopted Downtown/Waterfront District Specific Plan (originally adopted 1990s, substantially updated 2015–2016, with a further-updated plan document issued in 2023) continues to guide infill character, density, and public-realm improvements around the Marina and historic core, including the area near the Suisun City Train Depot. Recent capital improvements supporting infill — median and pavement work, and the openings of Goepp Park and Prosperity Garden Park — are being delivered by Public Works alongside this private development activity. The City's General Plan and Housing Element (6th cycle) provide the underlying inventory of infill and underutilized sites used to demonstrate the City's regional housing need allocation. The City has 17 infill projects in various stages of development.

In March 2025, City officials opened discussions with California Forever, the developer that had earlier proposed a Solano County ballot initiative (later withdrawn) for a new city on farmland it had assembled since 2023 for roughly $1 billion. On June 11, 2025, the City Council voted to enter a cost-reimbursement agreement authorizing the City to study annexation of up to 22,000+ acres of California Forever-owned land, with the developer funding all study, environmental review, and consultant costs.

The plan includes a downtown/entertainment district, the proposed "Solano Foundry" advanced- manufacturing and shipyard employment hub (the largest manufacturing park in the country), walkable residential neighborhoods across a range of price points, over 2,000 acres of open space/parks, and a "Travis Protection Zone" intended to buffer Travis Air Force Base operations.

Conclusion
Suisun City’s fiscal outlook is cautiously optimistic. Measure S+ provides an essential revenue bridge, but sustainable fiscal health depends on revenue generation, timely commercial and industrial development, expanded housing opportunities, and strategic economic diversification. The City Council’s multi-pronged approach, including tax enhancements, economic development initiatives, and the forthcoming Economic Strategy and Implementation Plan, will be critical to achieving long-term fiscal sustainability.

REQUEST FOR FINANCIAL INFORMATION
This Comprehensive Annual Financial Report is intended to provide our citizens, taxpayers, creditors, investors, and government regulators with a general overview of the City’s finances and to demonstrate the City’s accountability for the money it receives. Questions about this report should be directed to the Administrative Services Department, at 701 Civic Center Blvd., Suisun City, CA 94585 or visit the City’s website at www.suisun.com.

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BASIC FINANCIAL STATEMENTS

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313

GOVERNMENT-WIDE STATEMENTS
Statement of Net Position and Statement of Activities
The Statement of Net Position and the Statement of Activities summarize the entire City’s financial activities and financial position. They are prepared on the same basis as is used by most businesses, which means they include all the City’s assets and all its liabilities, as well as all its revenues and expenses. This is known as the full accrual basis. The effect of all of the City’s transactions is taken into account, regardless of whether or when cash changes hands, but all material internal transactions between City funds have been eliminated.

The Statement of Net Position reports the difference between the City’s total assets and the City’s total liabilities, including all the City’s capital assets and all its long-term debt. The Statement of Net Position presents information in a way that focuses the reader on the composition of the City’s net position, by subtracting total liabilities from total assets.

The Statement of Net Position summarizes the financial positionof all of the City’s Governmental Activities in a single column. The City’s Governmental Activities include the activities of its General Fund, along with all its Special Revenue Funds, Capital Projects Funds, Debt Service Funds, and Internal Service Funds.

The Statement of Activities reports increases and decreases in the City’s net position. It is also prepared on the full accrual basis, which means it includes all the City’s revenues and all its expenses, regardless of when cash changes hands. This differs from the “modified accrual” basis used in the Fund financial statements, which reflect only current assets, current liabilities, available revenues and measurable expenditures.

The Statement of Activities presents the City’s expenses first, listed by program. Program revenues – that is, revenues which are generated directly by these programs - are then deducted from program expenses to arrive at the net expense of each governmental program. The City’s general revenuesare then listed in the Governmental Activities and the Change in Net Position is computed and reconciled with the Statement of Net Position.

Both these Statements include the financial activities of the City, the City of Suisun City Public Financing Authority, and the City of Suisun City Housing Authority.These entities are legally separate but are component units of the City because they are controlled by the City, which is financially accountable for the Agency’s and the Authority’s activities.

314
Governmental
Activities
ASSETS
Current Assets:

Cash and investments 35,405,724$
Cash with fiscal agents 10,616
Receivables:

Accounts receivable - net 5,952,168
Prepaid items 36,544
Other assets 14,697
Total Current Assets 41,419,749
Noncurrent Assets:

Notes receivable - net 9,563,412
Leases receivable 63,816
Advance to other governments 2,760,605
Capital assets:

Nondepreciable 49,858,657
Depreciable - net 80,640,338
Total Capital Assets - Net 130,498,995
Total Noncurrent Assets 142,886,828
Total Assets 184,306,577$

DEFERRED OUTFLOWS OF RESOURCES
Pension adjustments 7,965,796$
OPEB adjustments 562,860
Total Deferred Outflows of Resources 8,528,656$
Cont'd
City of Suisun City
Statement of Net Position
June 30, 2025
The accompanying notes are an integral part of these financial statements.

315
Governmental
Activities

LIABILITIES
Current Liabilities:

Accounts payable 2,066,538$
Accrued payroll 756,989
Refundable deposits 82,423
Interest payable 166,809
Unearned revenues 188,436
Claims payable - due within one year 390,000
Settlement obligation payable - due within one year 193,911 Compensated absences - due within one year 859,743
Long-term debt - due within one year 880,090
Total Current Liabilities 5,584,939
Noncurrent Liabilities:

Long-term debt - due after one year 7,197,434
Claims payable 469,808
Compensated absences 992,925
Net pension liability 24,865,175
Total OPEB liability 3,388,453
Total Noncurrent Liabilities 36,913,795
Total Liabilities 42,498,734$

DEFERRED INFLOWS OF RESOURCES
Pension adjustments 482,924$
OPEB adjustments 1,665,742
Leases 59,613
Total Deferred Inflows of Resources 2,208,279$

NET POSITION
Net investment in capital assets 122,421,471$
Restricted:

Debt service 13,964
Housing programs 18,555,050
Special district assessments 1,694,650
Special projects and programs 16,364,068
Sewer maintenance 2,763,165
Total restricted net position 39,390,897
Unrestricted (13,684,148)
Total Net Position 148,128,220$
Concluded
The accompanying notes are an integral part of these financial statements.

June 30, 2025
City of Suisun City
Statement of Net Position

316
Operating Capital
Charges for Grants and Grants and Governmental
Functions/Programs Expenses Services Contributions Contributions Activities Primary Government:

Governmental Activities:

General government 10,990,971$ 3,289,910$ 5,075,120$ -$ (2,625,941)$ Public safety 19,105,902 831,944 1,167,907 830,417 (16,275,634) Public works 4,363,364 3,972,588 7,819 - (382,957) Highways and streets 4,720,708 112,398 2,181,513 1,530,075 (896,722) Building services 2,080,825 577,170 - - (1,503,655) Culture and recreation 4,066,796 1,366,063 221,982 144,390 (2,334,361) Community development 1,917,910 688,169 - 400,000 (829,741) Interest on long-term debt 265,728 - - - (265,728) Total Governmental Activities 47,512,204$ 10,838,242$ 8,654,341$ 2,904,882$ (25,114,739) General Revenues:

Taxes:

Property taxes 3,558,914
Sales and use taxes 7,526,981
Transient occupancy taxes 454,720
Other taxes:

Franchise fees 1,397,609
Total taxes 12,938,224
Shared revenue:

Motor vehicle license fees 3,196,331
Investment earnings 1,584,715
Other revenues 3,167,961
Total General Revenues 20,887,231
Change in Net Position (4,227,508)
Net Position - Beginning of Year 152,355,728
Net Position - End of Year 148,128,220$
The accompanying notes are an integral part of these financial statements.

Net (Expense)
Revenue and
Change in Net
Position Program Revenues
City of Suisun City
Statement of Activities
For the year ended June 30, 2025

317
Fund Title Fund Description
GENERAL FUND The fund is used to account for the resources to carry out basic governmental activities of the City such as general government, public safety, public works, and parks and recreation which are not required to be accounted for in another fund.

OFF-SITE STREET

IMPROVEMENT FUND
This fund accounts for capital improvement fees generated by new development and expended on street improvement city-wide.

HOUSING AUTHORITY SPECIAL

REVENUE FUND
This fund is used to account for the use of housing assets from the former Redevelopment Agency.

HOUSING AUTHORITY CHOICE

VOUCHERS FUND
This fund is used to account for intergovernmental revenues received to be used for housing assistance payment programs.

MUNICIPAL FACILITIES AND

EQUIPMENT
This fund accounts for funds generated from construction activity and expended for improvements necessitated by community growth.

LOCAL TRANSPORTATION This fund accounts for federal, state and local funds used for street, pedestrian and bikeway improvements.

DREDGING This fund was established to account for funds necessary to accomplish necessary work for dredging the waterways and prepping Pierce Island for dredge spoils.

MAJOR GOVERNMENTAL FUNDS

FUND FINANCIAL STATEMENTS
The funds described below were determined to be Major Funds. Individual nonmajor funds may be found in the Supplemental section.

318
City of Suisun City
Governmental Funds
Balance Sheet
June 30, 2025
Housing Housing
Off-site Authority Authority
General Street Special Choice
ASSETS Fund Improvement Revenue Vouchers
Cash and investments 2,186,113$ 4,775,177$ 6,686,934$ 191,120$ Cash with fiscal agent - - 10,616 - Receivables:

Accounts receivable - net 2,199,378 - 18,677 - Intergovernmental - - - - Notes receivable - - 9,129,154 - Due from other funds 7,147,595 - - - Prepaid items 7,363 - - - Other assets - - - - Leases receivable 63,816 - - - Advances to other governments - - 2,760,605 - Total Assets 11,604,265$ 4,775,177$ 18,605,986$ 191,120$

LIABILITIES, DEFERRED

INFLOWS OF RESOURCES AND

FUND BALANCES
Liabilities:

Accounts payable 895,678$ 9,245$ 22,153$ - $ Accrued payroll 589,771 - 6,707 - Unearned revenues 123,412 - - - Due to other funds 1,054,997 - - - Refundable deposits 24,670 - 22,076 - Total Liabilities 2,688,528 9,245 50,936 - Deferred Inflows of Resources:

Unavailable loan programs & revenue - - 7,571,723 - Leases 59,613 - - - Total Deferred Inflowa of Resources 59,613 - 7,571,723 - Fund Balances:

Nonspendable:

Prepaid items 7,363 - - - Leases receivable 4,203 - - - Restricted:

Debt service - - - - Special projects and programs - 4,765,932 10,983,327 191,120 Unassigned 8,844,558 - - - Total Fund Balances 8,856,124 4,765,932 10,983,327 191,120 Total Liabilities, Deferred Inflows
of Resources and Fund Balances 11,604,265$ 4,775,177$ 18,605,986$ 191,120$ Cont'd
Major Funds
The accompanying notes are an integral part
of these financial statements.

319
City of Suisun City
Governmental Funds
Balance Sheet
June 30, 2025
ASSETS
Cash and investments
Cash with fiscal agent
Receivables:

Accounts receivable - net
Intergovernmental
Notes receivable
Due from other funds
Prepaid items
Other assets
Leases receivable
Advances to other governments
Total Assets

LIABILITIES, DEFERRED

INFLOWS OF RESOURCES AND

FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll
Unearned revenues
Due to other funds
Refundable deposits
Total Liabilities
Deferred Inflows of Resources:

Unavailable loan programs & revenue
Leases
Total Deferred Inflowa of Resources
Fund Balances:

Nonspendable:

Prepaid items
Leases receivable
Restricted:

Debt service
Special projects and programs
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows
of Resources and Fund Balances
The accompanying notes are an integral part
of these financial statements.

Municipal
Facilities Nonmajor
and Local Governmental
Equipment Transportation Funds Total
- $ -$ 15,855,649$ 29,694,993$ - - - 10,616 - - 375,770 2,593,825 - 2,215,306 1,142,556 3,357,862 434,258 - - 9,563,412 - - - 7,147,595 - - 29,181 36,544 - - 14,697 14,697 - - - 63,816 - - - 2,760,605 434,258$ 2,215,306$ 17,417,853$ 55,243,965$
- $ 547,936$ 463,083$ 1,938,095$ - - 41,162 637,640 - 27,378 37,646 188,436 - 1,025,825 5,066,773 7,147,595 - - 35,677 82,423 - 1,601,139 5,644,341 9,994,189 434,258 - - 8,005,981 - - - 59,613 434,258 - - 8,065,594 - - 29,181 36,544 - - - 4,203 - - 13,964 13,964 - 614,167 14,816,406 31,370,952 - - (3,086,039) 5,758,519 - 614,167 11,773,512 37,184,182 434,258$ 2,215,306$ 17,417,853$ 55,243,965$
Concluded
Major Funds

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321
City of Suisun City
Reconciliation of the Government Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2025
Total Fund Balances - Total Governmental Funds 37,184,182$ Amounts reported for governmental activities in the Statement of Net Position were different because:

Capital assets used in governmental activities were not current financial resources. Therefore, they were not reported in the Governmental Funds Balance Sheet. The capital assets were adjusted as follows:

Capital assets 276,432,257
Less: accumulated depreciation (147,382,872)
Total Capital Assets 129,049,385
Interest payable on long-term debt did not require current financial resources. Therefore, interest payable was not reported as a liability in Governmental Funds Balance Sheet. (164,977) Internal service funds are used by management to charge the costs of vehicle maintenance and various insurance costs to individual funds. The assets and liabilities of the internal service funds are included in the governmental activities in the Statement of Net Position. 5,004,867
Contributions made to pension plans will not be included in the calculation of the City's net pension liability of the plan year included in this report and have been deferred and reported as deferred outflows of resources. 7,965,796
The difference between projected and actual earnings from pension plan assets is not included in the plan's actuarial study until the next fiscal year and are reported as deferred inflows of resources in the Statement of Net Position. (2,148,666) Deferred outflows of resources include amounts that will not be included in the calculation of the City's total OPEB liability of the plan year included in this report such as current fiscal year contributions as recorded in the fund statements. 562,860 Liabilities were reported for certain revenues that were not available to pay current period expenditures and were reported as unearned in the fund statements. 8,005,981 Long-term liabilities were not due and payable in the current period. Therefore, they were not reported in the Governmental Funds Balance Sheet. The long-term liabilities were adjusted as follows:

Long-term debt (7,031,001)
Compensated absences (1,852,668)
Settlement obligation payable (193,911)
Net pension liability (24,865,175)
Total OPEB liability (3,388,453)
Total Long-Term Liabilities (37,331,208)
Net Position of Governmental Activities 148,128,220$
The accompanying notes are an integral part of these financial statements.

322
City of Suisun City
Governmental Funds
Statement of Revenues, Expenditures
and Changes in Fund Balances
For the year ended June 30, 2025
Housing Housing
Off-site Authority Authority
General Street Special Choice
Fund Improvement Revenue Vouchers

REVENUES
Taxes:

Property taxes 3,469,501$ -$ -$ -$ Transient occupancy tax 454,720 - - - Sales taxes 7,526,981 - - - License and permits 2,118,270 - - - Fines and forfeitures 199,429 - 955 - Intergovernmental 3,590,747 - - 4,132,913 Special assessments - - - - Charges for services 4,831,208 51,429 582,439 - Investment earnings 301,383 198,539 295,594 - Other revenues 542,519 - 23,105 - Total Revenues 23,034,758 249,968 902,093 4,132,913

EXPENDITURES
Current:

General government 5,265,439 - 417,578 3,964,109 Public safety 15,726,614 - - - Public works 658,218 117,132 - - Highways and streets 2,817 4,365 - - Building services 858,802 - - - Culture and recreation 2,169,615 - - - Community development 906,156 - 409,536 - Capital outlay 570,934 - - - Debt service:

Principal 223,088 - - - Interest and fiscal charges 2,539 - - - Total Expenditures 26,384,222 121,497 827,114 3,964,109 Excess (Deficiency) of Revenues
over Expenditures (3,349,464) 128,471 74,979 168,804

OTHER FINANCING SOURCES (USES)
Transfers in 2,062,602 - - - Transfers out (942,528) (30,938) (65,000) - Total Other Financing Sources (Uses) 1,120,074 (30,938) (65,000) - Net Change in Fund Balances (2,229,390) 97,533 9,979 168,804 Fund Balances Beginning 11,085,514 4,668,399 10,973,348 22,316 Fund Balances Ending 8,856,124$ 4,765,932$ 10,983,327$ 191,120$ Cont'd
Major Funds
The accompanying notes are an integral part of
these financial statements.

323
City of Suisun City
Governmental Funds
Statement of Revenues, Expenditures
and Changes in Fund Balances
For the year ended June 30, 2025

REVENUES
Taxes:

Property taxes
Transient occupancy tax
Sales taxes
License and permits
Fines and forfeitures
Intergovernmental
Special assessments
Charges for services
Investment earnings
Other revenues
Total Revenues

EXPENDITURES
Current:

General government
Public safety
Public works
Highways and streets
Building services
Culture and recreation
Community development
Capital outlay
Debt service:

Principal
Interest 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 Beginning
Fund Balances Ending
The accompanying notes are an integral part of
these financial statements.

Municipal
Facilities Nonmajor
and Local Governmental
Equipment Transportation Funds Total
-$ -$ 89,413$ 3,558,914$ - - - 454,720 - - - 7,526,981 - - - 2,118,270 - - 89,553 289,937 500,000 3,174,659 6,210,712 17,609,031 - - 3,055,334 3,055,334 - - 632,692 6,097,768 1,617 - 572,082 1,369,215 - 219,920 134,450 919,994
501,617 3,394,579 10,784,236 43,000,164 14,626 - 945,824 10,607,576 - - 542,887 16,269,501 - - 2,941,796 3,717,146 - - 1,865,370 1,872,552 - - 7,755 866,557 - - 823,496 2,993,111 - - 61,145 1,376,837 38,996 4,513,360 3,138,599 8,261,889 - - 472,568 695,656 - - 247,360 249,899 53,622 4,513,360 11,046,800 46,910,724 447,995 (1,118,781) (262,564) (3,910,560) - 674,076 1,654,136 4,390,814 (382,567) - (2,969,781) (4,390,814) (382,567) 674,076 (1,315,645) - 65,428 (444,705) (1,578,209) (3,910,560) (65,428) 1,058,872 13,351,721 41,094,742 -$ 614,167$ 11,773,512$ 37,184,182$ Concluded
Major Funds

324
City of Suisun City
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Government-Wide Statement of Activities Change in Net Position
For the year ended June 30, 2025
Net Change in Fund Balances - Total Governmental Funds (3,910,560)$ Amounts reported for governmental activities in the Statement of Activities were different because:

Governmental Funds report capital outlay as expenditures. However, in the Government-Wide Statement of Activities, the cost of those assets was allocated over their estimated useful lives as depreciation expense.

Additions to capital assets from capital outlay 6,339,987 Depreciation expense (net of depreciation expense allocated to internal service funds) (4,730,574) The gains and losses from the disposal of long-lived assets such as capital assets is not a current economic resource and therefore is not reported in the fund statements but is reported in the Government-Wide Statement of Activities as a special item. (18,403) Internal service funds are used by management to charge the costs of vehicle maintenance, and various insurance costs to individual funds. The net revenue or (excess expenses) of the internal service funds is reported with government activities. 328,737 Certain revenues were recorded as deferred inflows of resources in the governmental funds because they did not meet the revenue recognition criteria of availability. However, they were included as revenue in the Government-Wide Statement of Activities under the full accrual basis. (516,216) Accruals of non-current items were reported in the Government-Wide Statement of Activities but they did not require the use of current financial resources and were not reported as expenditures in governmental funds.

Compensated absences (629,868)
In governmental funds, actual contributions to pension plans are reported as expenditures in the y ear incurred. However, in the Government-Wide Statement of Activities, only the current year pension expense as noted in the plans' valuation reports is reported as an expense, as adjusted for deferred inflows and outflows of resources. (1,559,733)
In governmental funds, actual contributions to OPEB plans are reported as expenditures in the y ear incurred. However, in the Government-Wide Statement of Activities, only the current year pension expense as noted in the plans' valuation reports is reported as an expense, as adjusted for deferred inflows and outflows of resources. (227,005)
The governmental funds report debt issuances as an other financing source, while repayment of debt principal is reported as an expenditure. The net effect of these differences in the treatment of long-term debt and related items is as follows:

Principal payments on debt 692,846
Interest expense on long-term debt was reported in the Government-Wide Statement of Activities, but it did not require the use of current financial resources. Therefore, interest expense was not reported as expenditures in governmental funds. The following amount represented the net change in accrued interest from prior year. 3,281 Change in Net Position of Governmental Activities (4,227,508)$ The accompanying notes are an integral part of these financial statements.

325

PROPRIETARY FUNDS

INTERNAL SERVICE FUNDS
Internal service funds, a type of proprietary fund, account for City operations financed and operated in a manner similar to a private business enterprise. The intent of the City is that the cost of providing goods and services to other City funds be financed through user charges to those funds.

Internal Service Funds are used to account for special activities and services performed by a designated City department for other departments on a cost reimbursement basis.

326
City of Suisun City
Proprietary Funds
Internal Service Funds
Statement of Net Position
June 30, 2025
Total
Governmental
Activities -
Internal
Service Funds
ASSETS
Current assets:

Cash and investments 5,710,731$
Accounts receivable - net 481
Total current assets 5,711,212
Noncurrent assets:

Capital assets - net 1,449,610
Total Assets 7,160,822$

LIABILITIES
Current liabilities:

Accounts payable 128,443$
Accrued payroll 119,349
Lease liabilities - current 419,719
Claims payable - current 390,000
Total current liabilities 1,059,343
Noncurrent liabilities:

Lease liabilities 626,804
Claims payable 469,808
Total noncurrent liabilities 1,096,612
Total Liabilities 2,155,955$

NET POSITION
Net investment in capital assets 403,087$
Unrestricted 4,601,780
Total Net Position 5,004,867$
The accompanying notes are an integral part of these financial statements.

327
City of Suisun City
Proprietary Funds
Internal Service Funds
Statement of Revenues, Expenses and Changes in Net Position For the year ended June 30, 2025
Total
Governmental
Activities -
Internal
Service Funds

OPERATING REVENUES
Charges to City departments 8,363,769$
Other revenue 123,019
Total operating revenues 8,486,788

OPERATING EXPENSES
Salaries and benefits 4,218,973
Services and supplies 3,501,226
Claims and settlements 163,714
Depreciation 953,970
Total operating expenses 8,837,883
Operating income (loss) (351,095)

NONOPERATING REVENUES(EXPENSES)
Investment income/(loss) 215,500
Interest expense (16,300)
Grants and reimbursements 462,229
Gain (loss) on sales of assets 18,403
Total nonoperating revenues(expenses) 679,832
Change in net position 328,737
Total net position - beginning 4,676,130
Total net position - ending 5,004,867$
The accompanying notes are an integral part of these financial statements.

328
City of Suisun City
Proprietary Funds
Internal Service Funds
Statement of Cash Flows
For the year ended June 30, 2025
Total
Governmental
Activities -
Internal
Service Funds
Cash flows from operating activities:

Cash received from customers and departments 8,515,796$ Cash paid to suppliers (3,469,966)
Cash paid for claims and settlements (269,418)
Cash paid to employees (4,189,942)
Net cash provided (used) by operating activities 586,470 Cash flows from capital and related financing activities:

Purchase of capital assets (209,801)
Proceeds from sale of capital assets 18,403
Grants and reimbursements 462,229
New leases and subscriptons 153,286
Prinicpal paid (489,248)
Interest paid (16,300)
Net cash provided (used) by capital and related financing activities (63,028) Cash flows from investing activities:

Investment income (loss) 215,500
Net cash provided (used) by investing activities 215,500 Net increase (decrease) in cash and cash equivalents 738,942 Cash and cash equivalents - beginning 4,971,789
Cash and cash equivalents - ending 5,710,731$
Reconciliation of operating income to net cash provided (used) by operating activities:

Operating income (loss) (351,095)$
Adjustments to reconcile operating income (loss)
to net cash provided (used) by operating activities:

Depreciation 953,970
Change in operating assets and liabilities:

Accounts receivables 29,008
Accounts payable 31,260
Accrued payroll 29,031
Claims payable (105,704)
Net cash provided (used) by operating activities 586,470$ The accompanying notes are an integral part of these financial statements.

329

FIDUCIARY FUNDS
Fiduciary funds are used to account for assets held by the City as anagent for individuals, private organizations, and other governments. The financial activities of these funds are excluded from the government-wide financial statements, but are presented in separate Fiduciary Fund financial statements.

330
City of Suisun City
Fiduciary Funds
Statement of Fiduciary Net Position
June 30, 2025
RDA
Obligation
Retirement
Private-Purpose
Trust Custodial
Fund Funds
ASSETS
Current assets:

Cash and investments 3,636,020$ 10,394,289$
Cash with fiscal agent 1,328,431 574,284
Accounts receivable - 2,135,216
Other assets 108,118 7,255
Total current assets 5,072,569 13,111,044
Noncurrent assets:

Loans receivable - net 662,332 -
Restricted cash and investments 1,509,980 -
Nondepreciable capital assets 904,905 948,773 Depreciable capital assets - net - 30,869,451 Total noncurrent assets 3,077,217 31,818,224 Total Assets 8,149,786$ 44,929,268$

LIABILITIES
Current liabilities:

Accounts payable 25,643$ 1,444,499$
Interest payable 463,512 174,075
Due to other agencies - 103,549
Noncurrent liabilities due within one year 2,833,578 475,000 Total current liabilities 3,328,129 2,197,123 Noncurrent liabilities:

Advances from other governments 3,194,863 -
Due in more than one year 27,479,806 15,896,123 Total noncurrent liabilities 30,674,669 15,896,123
Total Liabilities 34,002,798$ 18,093,246$

NET POSITION
Net investment in capital assets -$ 16,975,983$ Restricted for RDA obligation retirement (held in trust) (25,853,012) - Individuals, organizations and other governments - 9,860,039 Total Net Position (25,853,012)$ 26,836,022$
The accompanying notes are an integral part of these financial statements.

331
City of Suisun City
Fiduciary Funds
Statement of Changes in Fiduciary Net Position
For the year ended June 30, 2025
RDA
Obligation
Retirement
Private-Purpose
Trust Custodial
Fund Funds

ADDITIONS
Tax increment revenues 5,201,007$ -$
Fee, asessment and tax collections - 15,348,766 Other revenue - -
Investment income 91,510 386,806
Total additions 5,292,517 15,735,572

DEDUCTIONS
Program expenses 369,284 -
Payments to other entities - 15,278,865 Depreciation and amortization - 1,602,611 Debt service:

Interest expense 1,096,402 511,219
Total deductions 1,465,686 17,392,695
Change in net position 3,826,831 (1,657,123) Total net position - beginning (29,679,843) 28,534,184 Prior period adjustments - (41,039) Total net position - beginning as adjusted (29,679,843) 28,493,145 Total net position - ending (25,853,012)$ 26,836,022$ The accompanying notes are an integral part of these financial statements.

332
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333

NOTES TO FINANCIAL STATEMENTS

334
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335
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the City have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental agencies. T he Governmental Accounting Standards Boards (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the City's accounting policies are described below.

A. Financial Reporting Entity
The City is governed by a five-member Council elected by City residents. The City is legally separate and fiscally independent which means it can issue debt, set and modify budgets and fees, and sue or be sued.

The financial reporting entity consists of (a) the primary government, the City, (b) organizations for which the primary government is financially accountable, and (c) other organizations for which the primary government is not accountable, but for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity’s financial statements to be misleading or incomplete.

Financial accountability is defined as the appointment of a voting majority of the component unit’s board, and either (a) the City has the ability to impose its will on the organization, or (b) there is a potential for the organization to provide a financial benefit to or impose a financial burden on the City.

PRIMARY GOVERNMENT
The financial statements of the primary government of the City of Suisun City include the activities of the City, City of Suisun City Public Financing Authority, and City of Suisun City Housing Authority, which are controlled by and dependent on the City. While these are separate legal entities, their financial activities are integral to those of the City. Their financial activities have been aggregated and merged (termed “blending”) with those of the primary government of the City in the accompanying financial statements.

BLENDED COMPONENT UNITS
The Public Financing Authority (PFA) is a joint powers authority duly organized and existing under and pursuant to that certain Joint Exercise of Powers Agreement dated as of March 9, 1990, by and between the City of Suisun City and the Redevelopment Agency (RDA) of the City of Suisun City, and under the provisions of Articles 1 through 4 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”), and is authorized pursuant to Article 4 of the Act (the “Bond Law”) to borrow money for the purpose of financing the acquisition of bonds, notes and other obligations of the Agency to provide financing for public improvements of the Agency and for the purpose of providing funds to purchase bonds of the Agency for the Suisun City Redevelopment Project. Recent legislative changes required the dissolution of the RDA but it has been determined by legal counsel that the changes do not affect the PFA and its continued existence and no change in the structure is requires.

Housing Authority of City of Suisun City was established on November 26, 1968. The Authority manages and administers the U.S. Department of Housing and Urban Development, Housing Choice Voucher Program to aid low-income families in obtaining decent, safe and sanitary housing. This entity is a blended component because the governing body of it and the City are substantively the same and management of the City has operational responsibility for the Authority. With the dissolution of the Redevelopment Agency effective on January 31, 2012, the low and moderate housing fund is now under the Housing Authority.

336
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
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 standards followed by governmental entities in the United States of America.

These Standards require that the financial statements described below be presented.

Government-wide Statements
The Statement of Net Position and the Statement of Activities display information about the primary government (the City) and its component units. These statements include the financial activities of the overall City government, except for fiduciary activities. Eliminations have been made to minimize the double counting of internal activities. Certain interfund services provided and used are not eliminated in the process of consolidation. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange transactions.

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) capital grants and contributions.

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. Separate statements for each fund category— governmental, proprietary, and fiduciary—are presented. The emphasis of fund financial statements is on major individual governmental funds, each of which is displayed in a separate column. All remaining governmental funds are aggregated and reported as nonmajor funds.

C. Fund Financial Statements

GOVERNMENTAL FUNDS
Major funds are defined as governmental funds which have either assets, liabilities, revenues or expenditures equal to ten percent of their fund-type total and five percent of the grand total. The General Fund is always a major fund. The City may select other governmental funds it believes should be presented as major funds.

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

General Fund
The fund is used to account for the resources to carry out basic governmental activities of the City such as general government, public safety, public works, and parks and recreation which are not required to be accounted for in another fund.

Off-site Street Improvements Fund
This fund accounts for capital improvement fees generated by new development and expended on street improvements city-wide.

337
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Housing Authority Special Revenue Fund
This fund is used to account for the use of housing assets from the former Redevelopment Agency and revenues received from tenants and loan repayments.

Housing Authority Choice Vouchers Special Revenue Fund
This fund is used to account for intergovernmental revenues received to be used for housing assistance payment programs.

Municipal Facilities and Equipment Fund
This fund accounts for funds generated from construction activity and expended for improvements necessitated by community growth.

Local Transportation Special Revenue Fund
This fund accounts for federal, state and local funds used for street, pedestrian and bikeway improvements.

Additionally, the City reports the following nonmajor fund types of governmental funds:

Special Revenue Funds
Special revenue funds account for and report the proceeds of specific revenue sources that are restricted, committed or assigned to specific purposes other than debt service or capital projects.

Capital Project Funds
Capital project funds account for and report financial resources that are restricted, committed, or assigned to expenditure for capital outlays, including the acquisition or construction of capital facilities and other capital assets in governmental funds.

Debt Service Funds
Debt service funds account for the accumulation of resources for, and payment on, long-term liabilities principal and interest.

PROPRIETARY FUNDS
In the fund financial statements, proprietary funds are presented using the accrual basis of accounting.

Revenues are recognized when they are earned and expenses are recognized when the related goods or services are delivered. In the fund financial statements, proprietary funds are presented using the “economic resources measurement focus”. T his means all assets, deferred outflows of resources, liabilities (whether current or noncurrent) and deferred inflows of resources associated with their activities are included on their balance sheets.

Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in total net position.

Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal value. Non-operating revenues, such as subsidies, taxes, and investment earnings result from nonexchange transactions or ancillary activities. Amounts paid to acquire capital assets are capitalized as assets in the internal service funds financial statements. The City’s internal service funds are proprietary funds.

Internal service funds account for charges to City departments for services provided, on a cost reimbursement basis.

338
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
The City reported the following internal service funds in the accompanying financial statements:

Motor Vehicle Repair Fund
This fund accounts for the revenues and expenses of the maintenance of motor vehicles provided to City departments.

Motor Vehicle Replacement Fund
This fund accounts for the rental revenues and expenses of the maintenance of public works equipment provided to City departments.

Network Maintenance Fund
This fund accounts for the revenues and expenses of the maintenance of the City’s computer servers and accounts for the rental and depreciation expense of the City owned computer network servers.

Public Works Operating Cost Fund
This fund accounts for operating cost and charges where service is provided, including the Maintenance Districts, Streets, Parks, and various departments under the general fund.

Self-Insurance Fund
This fund accounts for the revenues and expenses of the City’s insurance programs (liability, workers compensation and unemployment).

Public Safety Dispatch Fund
This fund accounts for operating cost and charges where service is provided for emergency and non-emergency public safety assistance, dispatching appropriate units, and coordination of response of emergency.

FIDUCIARY FUNDS
Private Purpose Trust Funds
Private Purpose Trust Funds account for resources held for other individuals and entities in a manner similar to private enterprise. The RDA Obligation Retirement Private-Purpose Trust Fund accounts for the dissolution of the Redevelopment Agency (RDA), which includes the property tax revenues received and used to pay required payments on existing bonds, other obligations, and pass-through payments to local governments.

Custodial Funds
Custodial Funds account for assets held by the City in a purely custodial capacity and use the economic resources measurement focus. Custodial funds are not presented in the government-wide financial statements.

The City maintains Custodial funds are used to account for fees, forfeitures, donations, reserves, sales, bond issuances, grants, and other various activities on behalf of others. Custodial funds held by the City are described in further detail in the Custodial Funds supplementary information section, as noted in the table of contents.

D. Basis of Accounting
The government-wide, proprietary, and private-purpose trust fund financial statements are reported using the economic resources measurement focus and the full accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place.

339
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. The City considers all revenues reported in the governmental funds to be available if the revenues are collected within sixty days after year-end. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on long-term debt, claims and judgments, and compensated absences, which are recognized as expenditures to the extent they have matured. Governmental capital asset acquisitions are reported as expenditures in governmental funds. Issuance of governmental long-term debt and acquisitions under capital leases are reported as other financing sources.

Non-exchange transactions, in which the City gives or receives value without directly receiving or giving equal value in exchange, include taxes, grants, entitlements, and donations. On the accrual basis, revenue from taxes is recognized in the fiscal year for which the taxes are levied or assessed. Revenue from grants, entitlements, and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied.

Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principle operating revenues of the City’s internal service funds are charges to customers or other funds for sales and services. Operating expenses for internal service funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting the definition are reported as nonoperating revenues and expenses.

Fiduciary funds use the "economic resources" measurement focus and the accrual basis of accounting.

E. Cash and Cash Equivalents
For purposes of the statement of cash flows, the City considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents. The proprietary fund's “deposits” in the City cash and investment pool are, in substance, demand deposits and are therefore considered cash equivalents.

F. Cash and Investments
Deposit and Investment Risk Disclosures - In accordance with GASB Statement No. 40, Deposit and Investment Disclosures (Amendment of GASB Statement No. 3), certain disclosure requirements, if applicable, for Deposits and Investment Risks in the following areas:
 Interest Rate Risk
 Credit Risk
o Overall
o Custodial Credit Risk
o Concentrations of Credit Risk
 Foreign Currency Risk
Other disclosures are specified including use of certain methods to present deposits and investments, highly sensitive investments, credit quality at year-end and other disclosures.

The City participates in an investment pool managed by the State of California titled Local Agency Investment Fund (LAIF), which has invested a portion of the pool funds in Structured Notes and Asset Backed Securities.

LAIF's investments are subject to credit risk with the full faith and credit of the State of California

340
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
collateralizing these investments. In addition, these Structured Notes and Asset-Backed Securities are subject to market risk as to change in interest rates.

Since 2005, the City has worked with PFM to safely invest City’s funds according to its long-term strategy. The City’s investment strategy is to protect the City’s assets, to ensure sufficient liquidity, and to attain a better than average market rate of return throughout budgetary and economic cycles. The portfolio is managed according to the City’s Investment Policy and a zero to five-year liquidity strategy.

Investments are recorded at fair value in accordance with GASB Statement No. 72, Fair Value Measurement and Application. Accordingly, the change in fair value of investments is recognized as an increase or decrease to investment assets and investment income.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction. In determining this amount, three valuation techniques are available:
 Market approach - This approach uses prices generated for identical or similar assets or liabilities. The most common example is an investment in a public security traded in an active exchange such as the NYSE.  Cost approach - This technique determines the amount required to replace the current asset. This approach may be ideal for valuing donations of capital assets or historical treasures.  Income approach - This approach converts future amounts (such as cash flows) into a current discounted amount.

Each of these valuation techniques requires inputs to calculate a fair value. Observable inputs have been maximized in fair value measures, and unobservable inputs have been minimized.

G. Interfund Receivables and Payables
Items classified as interfund receivables/payables are referred to as “advances to/advances from other funds” or as “due to/from other funds”. D ue to/from other funds include short -term lending/borrowing transactions between funds. This classification also includes the current portion of an advance to or from another fund.

Advances to/advances from other funds represents non-current portions of any long-term lending/borrowing transactions between funds.

H. Receivables
In the government-wide statements, receivables consist of all revenues earned at year-end and not yet received.

Major receivable balances for the governmental activities include property taxes, sales and use taxes, transient taxes, franchise taxes, intergovernmental subventions, interest earnings, and expense reimbursements.

In the fund financial statements, material receivables in governmental funds include revenue accruals such as property tax, sales tax, transient tax, franchise tax, and intergovernmental subventions since they are usually both measurable and available. Non-exchange transactions collectible but not available, such as property tax, are deferred in the fund financial statements in accordance with the modified accrual basis, but not deferred in the government-wide financial statements in accordance with the accrual basis.

The City’s experience is that all accounts receivable are collectible; therefore an allowance for doubtful accounts is unnecessary.

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I. Loans/Notes Receivable
Under the City’s housing assistance program, loans are made to qualified individuals and businesses within prescribed project areas for the purpose of housing acquisition, housing rehabilitation and/or economic development. The majority of these loans are on a deferred payback program. R epayments of the outstanding loans are applied to the principal balance of the loan receivable. These long-term loans are carried as assets of the Governmental funds making loans and are not available financial resources. The long-term portion of loans receivable has been offset by deferred inflows of resources in the accompanying financial statements, as applicable.

J. Lease Receivables
When applicable, the City’s lease receivables are measured at the present value of lease payments expected to be received during the lease term. A deferred inflow of resources is recorded for the lease. The deferred inflow of resources is recorded at the initiation of the lease in an amount equal to the initial recording of the lease receivable plus incentive payments received. The deferred inflow of resources is amortized on a straight-line basis over the term of the lease.

K. Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both the government-wide and fund financial statements.

Prepaid items, as reported in the fund financial statements, are offset by a reservation of fund balance for noncurrent assets in government funds to indicate that they do not constitute resources available for appropriation. The City has the option of reporting expenditures in governmental funds for prepaid items either when purchased or during the benefiting period. The City has chosen to report the expenditure when incurred.

L. Capital Assets
The City’s assets are capitalized at historical cost or estimated historical cost. City policy has set the capitalization threshold for general capital assets at $5,000 with useful life of more than 1 year, and the threshold for infrastructure is $100,000 for assets with a useful life of 20 years or greater. Gifts and contributions of capital assets are recorded at acquisition value. Depreciation and amortization of capital assets is charged as an expense each year and the total amount of depreciation or amortization taken over the years, accumulated depreciation and amortization, is reported on the Statement of Net Position as a reduction in the book value of capital assets.

All capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available.

Contributed capital assets are valued based on the acquisition value.

Capital assets with limited useful lives are depreciated over their estimated useful lives. The purpose of depreciation is to spread the cost of capital assets equitably among all users over the life of these assets. The amount charged to depreciation expense each year represents that year’s pro rata share of the cost of capital assets. Depreciation is provided using the straight-line method which means the cost of the asset is divided by its expected useful life in years and the result is charged to expense each year until the asset is fully depreciated.

Intangible right-to-use lease assets are amortized over the shorter of the lease term or the useful life of the underlying asset, unless the lease contains a purchase option that the university has determined is reasonably

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certain of being exercised, then the lease asset is amortized over the useful life of the underlying asset.

Intangible right-to-use subscription assets are amortized over the shorter of the subscription term or the useful life of the underlying asset.

The City has assigned the useful lives listed below to capital assets:

Buildings 25-30 years
Improvements 10 years
Vehicle 3-10 years
Machinery and Equipment 3-10 years
Infrastructure 25-65 years
Streets-Pavement System 10-75 years
M. Deferred Outflows/Deferred Inflows
A deferred outflow of resources is defined as a consumption of net assets that applies to a future period(s) and so will not be recognized as an outflow of resources (expenses/expenditure) until then. A deferred inflow of resources is defined as an acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow of resources (revenues) until that time.

When applicable, unamortized portions of the gain and loss on refunding debt are reported as deferred inflows and deferred outflows of resources, respectively. Deferred outflows and inflows of resources are reported for the changes related to benefit plans. In addition, when an asset is recorded in governmental fund financial statements but the revenue is not available, a deferred inflow of resources is reported until such time as the revenue becomes available.

N. Interest Payable
In the government-wide financial statements, interest payable on long-term debt is recognized as an incurred liability for governmental fund types. The City has not allocated the interest on long-term debt to departments.

In the fund financial statements, governmental fund types do not recognize the interest payable when the liability is incurred. Interest on long-term debt is recorded in the fund statements when payment is made.

O. Claims Payable
The City records a liability to reflect an actuarial estimate of ultimate uninsured losses for general liability claims. The estimated liability for these claims include "incurred but not reported" (IBNR) claims. There is no fixed payment schedule to pay these liabilities.

P. Compensated Absences
The City recognizes a liability for compensated absences for leave time that (1) has been earned for services previously rendered by employees, (2) accumulates and is allowed to be carried over to subsequent years, and (3) is more likely than not to be used as time off or settled during or upon separation from employment. Based on the criteria listed, two types of leave qualify for liability recognition for compensated absences – paid leave (Vacation, Holiday, Executive and Comp Time) and sick leave. The liability for compensated absences is reported as incurred in the government-wide and proprietary fund financial statements. The liability for compensated absences includes salary-related taxes and benefits, where applicable.

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The liability for compensated absences is determined annually. For all Governmental funds, amounts expected to be permanently liquidated are recorded as fund liabilities; the long-term portion is recorded in the Statement of Net Position. Compensated absences are reported in Governmental funds only if they have matured (unused reimbursable compensated absences still outstanding following an employee's resignation or retirement).

Compensated absences are liquidated by the fund that has recorded the related liability Vacation
The City’s policy permits employees to accumulate earned but unused vacation benefits, which are eligible for payment at the employee’s current pay rate upon separation from employment.

Sick Leave
The City’s policy permits employees to accumulate earned but unused sick leave. Unused sick leave is not payable upon separation from service and therefore does not create a direct monetary obligation. However, pursuant to applicable labor agreements, eligible unused sick leave hours may be reported to CalPERS and converted to additional service credit upon retirement. The liability for compensated absences includes the estimated value of sick leave expected to be utilized by employees as paid leave prior to separation.

Q. Long-Term Debt
The accounting treatment of long-term debt 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.

All long-term debt to be repaid from governmental resources is reported as liabilities in the government-wide statements. Long-term debt for governmental funds is not reported as liabilities in the fund financial statements.

The debt issuances are reported as revenue and payment of principal and interest reported as expenditures.

Long-term debt for proprietary funds is reported in the fund statements similar to as it is reported in the government-wide statements. Debt issuances are reported as liabilities and payments are reported as reductions to the liability and as interest expense.

R. Lease Liabilities
The City is a lessee for a noncancellable leases. T he City recognizes a lease liability and an intangible right‐to‐use lease asset (capital asset) in the government‐wide financial statements.

At the commencement of a lease, the City initially measures the lease liability at the present value of payments expected to be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The lease asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus certain initial direct costs.

Subsequently, the lease asset is amortized on a straight‐line basis over its useful life. Key estimates and judgments related to leases include how the City determines (1) the discount rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease payments.  The City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for leases.
 The lease term includes the noncancellable period of the lease. Lease payments included in the measurement of the lease liability are composed of fixed payments and purchase option price that the City is reasonably certain to exercise.

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The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the lease liability.

Lease assets are reported separately with capital assets as right of use assets and lease liabilities are reported with long-term liabilities in the statement of net position.

S. Subscription Based Information Technology Arrangements The City recognizes subscription liabilities using its estimated incremental borrowing rate to measure subscription liabilities unless it can readily determine the interest rate in the arrangement. The City’s estimated incremental borrowing rate is based on its most recent public debt issuance.

T. Benefit Plans
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 (CalPERS) 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 CalPERS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.

GASB Statement No. 68, Accounting and Financial Reporting for Pensions - an amendment of GASB Statement No. 27 (GASB Statement No. 68) requires that the reported results must pertain to liability and asset information within certain defined timeframes. For this period, the following timeframes are used for the City’s pension plans:

Valuation Date (VD)...............................June 30, 2023 Measurement Date (MD) ........................June 30, 2024 Measurement Period (MP) ......................July 1, 2023 to June 30, 2024 Other Postemployment Benefits Other Than Pensions (OPEB) For purposes of measuring the total OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense information about the City’s Retiree Benefits Plan (the OPEB Plan) and additions to/deductions are based on when they are due and payable in accordance with benefit terms for the measurement period included in the OPEB plan’s actuarial reports.

Valuation Date (VD)...............................June 30, 2024 Measurement Date (MD) ........................June 30, 2025 Measurement Period (MP) ......................July 1, 2024 to June 30, 2025 U. Fund Balances
Nonspendable fund balance represents amounts that cannot be spent either because they are in a nonspendable form or are required to be maintained intact such as prepaid expenses and inventories.

Restricted fund balance represents amounts that are constrained for specific purposes by state or federal laws, enabling legislation or externally imposed conditions by grantors or creditors.

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City of Suisun City
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Committed resources reflect amounts that can only be used for specific purposes pursuant to constraints imposed by a formal action of the entity’s “highest level of decision making authority,” which would be by an ordinance passed by the City Council. The constraint remains binding unless modified or rescinded in the same formal manner by the City Council.

Assigned fund balance represents amounts that are constrained by the City’s intent to be used for specific purposes, but are neither restricted nor committed. The City Council delegated the authority to assign amounts to be used for specific purposes to the Administrative Services Director.

Unassigned fund balances are either residual positive net resources of the General Fund in excess of what can properly be classified in one of the other four categories in the General Fund, or negative balances in all other funds.

Fund Balance Policy
When both restricted and unrestricted funds are available for expenditure, the City’s Fund Balance Policy reduces all Governmental Funds Balances in the following order: Restricted, Committed, Assigned, and Unassigned unless disallowed by City Council or legal requirements. The City Council through resolution gives authorization to the Director of Administrative Services or Designee to Assign Fund Balances and to report these amounts in the Annual Comprehensive Financial Report.

V. Net Position
In the government-wide financial statements, net position is classified in the following categories:

Net Investment in Capital Assets
This amount consists of capital assets net of accumulated depreciation and reduced by outstanding debt that is attributed to the acquisition, construction, or improvement of the assets. In addition, deferred outflows of resources and deferred inflows of resources that are attributable to the acquisition, construction, or improvement of those assets or related debt also are included in the net investment in capital assets component of net position.

As of June 30, 2025, capital assets net of accumulated depreciation totaling $126,046,944 was reduced by related debt of $7,031,001.

Restricted Net Position
This amount is restricted by external creditors, grantors, contributors, or laws or regulations of other governments. Certain proceeds from debt and loans are reported as restricted net position because their u se is
limited by applicable debt or other covenants.

Unrestricted Net Position
This amount is all net position that does not meet the definition of "net investment in capital assets " or "restricted net position."
The detail of amounts reported for each of the above defined net position categories is reported in the government-wide Statement of Net Position. When an expense is incurred for purposes for which both restricted and unrestricted net position is available, the City’s policy is to apply restricted net position first.

W. Interfund Transactions
Interfund services provided and used are accounted for as revenue, expenditures or expenses, as appropriate.

Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are

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City of Suisun City
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June 30, 2025
properly applicable to another fund are recorded as expenditures/expenses in the reimbursed fund. Interfund transactions, except for interfund services provided and used and reimbursements, are reported as transfers.

X. Property Tax Revenues
Solano County assesses properties and bills, collects, and distributes property taxes to the City. The County remits the entire amount levied and handles all delinquencies, retaining interest and penalties. Secured and unsecured property taxes are levied on January 1.

Secured property tax is due in two installments, on November 1 and March 1, and becomes a lien on those dates.

It becomes delinquent on December 10 and April 10, respectively. Unsecured property tax is due on July 1 and becomes delinquent on August 31.

The term "unsecured" refers to taxes on personal property other than real estate, land and buildings. These taxes are secured by liens on the property being taxed. Property tax revenues are recognized by the City in the fiscal year they are assessed provided they become available as defined above.

Y. Budgeting Practices
Annual budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America for the general, special revenue, capital projects, and debt service governmental funds. All annual appropriations lapse at fiscal year-end. The City submits requests for appropriations to the City Manager so that a budget may be prepared. The proposed budget is presented to the City Council for review. The Council holds public hearings and adopts a final budget.

The appropriated budget is prepared by fund, function, and department. The City Manager may make transfers of appropriations within a department. Transfers of appropriations between funds require the approval of the City Council. The legal level of budgetary control is the function and department level. Encumbrance accounting, a method of recording purchase commitments, is not used by the City. The budgets for the Suisun- Solano Water Authority and the Fairfield-Suisun Sewer District are prepared for approval by the respective agency’s board.

Z. Unearned Revenue
Unearned revenue arises when assets are received before revenue recognition criteria have been satisfied. Grants and entitlements received before eligibility requirements are met are recorded as unearned revenue. In the governmental fund financial statements, receivables associated with non-exchange transactions that will not be collected within the availability period have been recorded as deferred inflows of resources.

AA.Use of Estimates
The preparation of basic financial statements in conformity 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 those estimates.

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City of Suisun City
Notes to the Basic Financial Statements
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BB.Implementation of New Accounting Pronouncements
GASB Statement No. 101, Compensated Absences
This Statement requires that liabilities for compensated absences be recognized for (1) leave that has not been used and (2) leave that has been used but not yet paid in cash or settled through noncash means. A liability should be recognized for leave that has not been used if (a) the leave is attributable to services already rendered, (b) the leave accumulates, and (c) the leave is more likely than not to be used for time off or otherwise paid in cash or settled through noncash means. Leave is attributable to services already rendered when an employee has performed the services required to earn the leave. Leave that accumulates is carried forward from the reporting period in which it is earned to a future reporting period during which it may be used for time off or otherwise paid or settled. In estimating the leave that is more likely than not to be used or otherwise paid or settled, a government should consider relevant factors such as employment policies related to compensated absences and historical information about the use or payment of compensated absences. However, leave that is more likely than not to be settled through conversion to defined benefit postemployment benefits should not be included in a liability for compensated absences.

This Statement requires that a liability for certain types of compensated absences - including parental leave, military leave, and jury duty leave—not be recognized until the leave commences. This Statement also requires that a liability for specific types of compensated absences not be recognized until the leave is used. A liability for leave that has been used but not yet paid or settled should be measured at the amount of the cash payment or noncash settlement to be made. Certain salary-related payments that are directly and incrementally associated with payments for leave also should be included in the measurement of the liabilities. The implementation of this standard did not have a material impact on the City’s financial statements.

GASB Statement No. 102, Certain Risk Disclosures
This Statement requires a government to assess whether a concentration or constraint makes the primary government reporting unit or other reporting units that report a liability for revenue debt vulnerable to the risk of a substantial impact. Additionally, this Statement requires a government to assess whether an event or events associated with a concentration or constraint that could cause the substantial impact have occurred, have begun to occur, or are more likely than not to begin to occur within 12 months of the date the financial statements are issued.

If a government determines that those criteria for disclosure have been met for a concentration or constraint, it should disclose information in notes to financial statements in sufficient detail to enable users of financial statements to understand the nature of the circumstances disclosed and the government’s vulnerability to the risk of a substantial impact. The disclosure should include descriptions for (1) the concentration or constraint (2) each event associated with the concentration or constraint that could cause a substantial impact if the event had occurred or had begun to occur prior to the issuance of the financial statements (3) actions taken by the government prior to the issuance of the financial statements to mitigate the risk.

The implementation of this standard did not have a material impact on the City’s financial statements and management determined there were no were concentrations or constraints that make the City vulnerable to the risk of substantial impact.

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CC.Upcoming New Accounting Pronouncements
The City is currently analyzing its accounting practices to determine the potential impact on the financial statements of the following recent GASB Statements:

GASB Statement No. 103, Financial Reporting Model Improvements This Statement is to improve key components of the financial reporting model to enhance its effectiveness in providing information that is essential for decision making and assessing a government’s accountability.

This Statement establishes new accounting and financial reporting requirements or modifies existing requirements related to (a) Management’s discussion and analysis (MD&A) (b) Unusual or infrequent items (c) Presentation of the proprietary fund statement of revenues, expenses, and changes in fund net position (d) Information about major component units in basic financial statements (5) Budgetary comparison information (6) Financial trend information in the statistical section. The requirements of this Statement are effective for fiscal years beginning after June 15, 2025, and all reporting periods thereafter.

GASB Statement No. 104, Disclosure of Certain Capital Assets This Statement requires certain types of capital assets to be disclosed separately in the capital assets note disclosures required by Statement 34. Lease assets recognized in accordance with Statement No. 87, Leases, and intangible right-to-use assets recognized in accordance with Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements, should be disclosed separately by major class of underlying asset in the capital as-sets note disclosures. Subscription assets recognized in accordance with Statement No. 96, Subscription-Based Information Technology Arrangements, also should be separately disclosed. In addition, this Statement requires intangible assets other than those three types to be disclosed separately by major class.

This Statement also requires additional disclosures for capital assets held for sale. A capital asset is a capital asset held for sale if (a) the government has decided to pursue the sale of the capital asset and (b) it is probable that the sale will be finalized within one year of the financial statement date. Governments should consider relevant factors to evaluate the likelihood of the capital asset being sold within the established time frame. This Statement requires that capital assets held for sale be evaluated each reporting period. Governments should disclose (1) the ending balance of capital assets held for sale, with separate disclosure for historical cost and accumulated depreciation by major class of asset, and (2) the carrying amount of debt for which the capital assets held for sale are pledged as collateral for each major class of asset. The requirements of this Statement are effective for fiscal years beginning after June 15, 2025, and all reporting periods thereafter.

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NOTE 2 - CASH AND INVESTMENTS
Cash and investments are classified in the financial statements as shown below, based on whether or not their use is restricted under the terms of City debt instruments or Agency agreements.

As of June 30, 2025, cash and investments were reported in the financial statements as follows:

City cash and investments in primary government:

Cash and investments 35,405,724$
Cash with fiscal agent 10,616
Total City cash and investments in primary government 35,416,340 City cash and investments in trust funds:

Cash and investments 3,636,020
Cash with fiscal agent 1,328,431
Restricted cash and investments 1,509,980
Total trust funds cash and investments 6,474,431
City cash and investments in custodial funds:

Cash and investments 10,394,289
Cash with fiscal agent 574,284
Total fiduciary funds cash and investments 10,968,573
Total cash and investments 52,859,344$
A. Cash Deposits
The California Government Code requires California banks and savings and loan associations to secure the City's cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest and places the City ahead of general creditors of the institution.

The market value of pledged securities must equal at least 110 percent of the City's cash deposits. California law also allows institutions to secure City deposits by pledging first trust deed mortgage notes that have a value of 150 percent of the City's total cash deposits. T he City has waived the collateral requirements for cash deposits which are fully insured to $250,000 by the Federal Deposit Insurance Corporation (FDIC). The bank balances before reconciling items totaled $5,044,905 at June 30, 2025 and could be different from carrying amounts due to deposits in transit and outstanding checks. The amount uninsured was $3,794,905 which was collateralized by securities held by pledging financial institutions.

B. Fair Value Measurements
GASB 72 established a hierarchy of inputs to the valuation techniques above. This hierarchy has three levels:
 Level 1 inputs are quoted prices in active markets for identical assets or liabilities.  Level 2 inputs are quoted market prices for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other than quoted prices that are not observable  Level 3 inputs are unobservable inputs, such as a property valuation or an appraisal.

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C. Investments Authorized by the California Government Code and the City’s Investment Policy The City’s Investment Policy and the California Government Code allow the City to invest in the following investments, provided the credit ratings of the issuers are acceptable to the City and approved percentages and maturities are not exceeded. The table below also identifies certain provisions of the California Government Code or the City’s Investment Policy where it is more restrictive and addresses interest rate risk, credit risk and concentration of credit risk. This table does not address investments of debt issuances held by bond trustees that are governed by the provisions of debt agreements of the City, rather than the general provisions of the California Government Code or the City’s investment policy.

The City’s investment policy and the California Government Code allow the City to invest in the following:

Maximum
Maturity
Minimum Credit
Quality
Maximum
Percentage of
Portfolio
Maximum
Investment in
One Issuer
5 Years No Limit No Limit No Limit
5 Years No Limit 20% 20%
270 Days A-1 25% No Limit
5 Years No Limit 30% No Limit
5 Years No Limit No Limit No Limit
California Asset Management Program (CAMP) 5 Years No Limit No Limit No Limit Supranational Bond/Note 5 Years AA 30% 30%
Municipal Obligations 5 Years A 30% 30%
Money Market Funds N/A Highest Ranking
NRSRO
20% No Limit
Certificates of Deposit
Local Agency Investment Fund (LAIF)
Authorized Investment Type
U.S Treasury Bills, Bonds, and Notes
Federal Agency Obligations
Commercial Paper
D. Investments Authorized by Debt Agreements
The City must maintain required amounts of cash and investments with trustees or fiscal agents under the terms of certain debt issues. These funds are unexpended bond proceeds or are pledged reserves to be used if the City fails to meet its obligations under these debt issues. The California Government Code requires these funds to be invested in accordance with City resolutions, bond indentures or State statutes. The table below identifies the investment types that are authorized for investments held by fiscal agents. The bond indentures contain no limitations for the maximum investment in any one issuer or the maximum percentage of the portfolio that may be invested in any one investment type.

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City of Suisun City
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June 30, 2025
The table also identifies certain provisions of these debt agreements:

Maximum
Authorized Investment Type Maturity
Federal Securites No Limit N/A
U.S. Government Obligations No Limit N/A
U.S. Government Sponsored Securities No Limit N/A
Money Market Accounts N/A Aam-AAAm
FDIC Insured Deposits One Year N/A
Investment Agreements No Limit AA-AAAm
Commercial Paper None to 270 days A-1
State Obligations:

General Obligation N/A A
General Short-Term Obligation No Limit A-1
Special Revenue Bond No Limit AA
Federal Funds 360 days A-1
Repurchase Agreements 30 Days A
Local Agency Investment Funds N/A N/A
Credit Quality
E. Risk Disclosures
Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer-term investments and by timing cash flows 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.

The City is a participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The City reports its investment in LAIF at the fair value amount provided by LAIF, which is the same as the value of the pool share. The balance is available for withdrawal on demand and is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis. Included in LAIF’s investment portfolio are collateralized mortgage obligations, mortgage-backed securities, other asset backed securities, loans to certain state funds, United States Treasury Notes and Bills and floating rate securities issued by federal agencies, government-sponsored enterprises, and corporations. At June 30, 2025, these investments had an average maturity date of less than one year.

The California Asset Management Program (“CAMP” or the “Program”) is a California Joint Powers Authority (“JPA”) established in 1989 to provide California public agencies with professional investment services.

Investments offered through the Cash Reserve Portfolio (the “Pool” or the “CAMP Pool”) are permitted for all local agencies under California Government Code Section 53601(p). The Program also offers educational resources, market updates and arbitrage rebate compliance services.

CAMP is directed by a Board of Trustees, which is made up of experienced local government finance directors and treasurers. The CAMP Pool is a fully liquid, stable net asset value (NAV) investment option with an AAAm* rating from Standard & Poor’s. Earning a competitive yield is a third goal after safety and liquidity.

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City of Suisun City
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June 30, 2025
Information about the sensitivity of the fair values of the City’s investments (including investments held by bond trustees) to market interest rate fluctuations is provided by the following table that shows the distribution of the City’s investments by maturity or earliest call date:
12 Months or
Less
13 to 24
Months
25 to 36
Months
37 to 48
Months
49 to 60
Months Total
Fair
Value
Input
Levels
Custodial cash account 29,205$ 24,172$ 35,800$ 54,062$ 47,390$ 190,629$ Level 1 U.S. Treasury Notes 441,002 365,006 540,601 816,371 715,620 2,878,600 Level 1 Federal Agency Bonds 1,080,767 894,526 1,324,858 2,000,691 1,753,779 7,054,621 Level 1 Certificates of Deposit 178,834 148,017 219,224 331,053 290,197 1,167,325 Level 2 Corporate Notes 1,721,212 1,424,605 2,109,944 3,186,262 2,793,035 11,235,058 Level 1 Asset Backed Securities 927,189 767,412 1,136,593 1,716,388 1,504,563 6,052,145 Level 1 Supranationals 54,694 45,269 67,046 101,247 88,752 357,008 Level 1 Municipal Bonds 502,798 416,154 616,354 930,767 815,898 3,281,971 Level 1 LAIF 6,721 - - - - 6,721 N/A CAMP 12,621,918 - - - - 12,621,918 N/A Cash With Fiscal Agents 1,913,331 - - - - 1,913,331 N/A Restricted Cash 425,739 - - - - 425,739 N/A Total Investments 19,903,410$ 4,085,161$ 6,050,420$ 9,136,841$ 8,009,234$ 47,185,066 Cash Balances 5,674,278
Total Cash and Investments 52,859,344$
Investment Type
Credit Risk
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. The City’s Standard and Poor’s investment ratings range from AAA to BBB, as of system as of June 30, 2025 , excluding pools that are not required to be rated. The following summarizes the City’s investment balances by S&P rating as of June 30, 2025, excluding investment pools:

S&P Rating Amount
AAA 2,647,351$
AA+ 6,598,821
AA 2,094,816
AA- 1,968,335
A+ 3,042,141
A 6,081,235
A- 819,491
BBB+ 172,001
BBB 167,768
N/A 7,458,073
Not Rated 1,167,325
Total 32,217,357$

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June 30, 2025
Concentrations of Credit Risk
The City’s investment policy regarding the amount that can be invested in any one issuer is stipulated by the California Government Code. However, the City is required to disclose investments that represent a concentration of five percent or more of investments in any one issuer, held by individual City Funds in the securities of issuers other than U. S. Treasury securities, mutual funds and external investment pools. As of June 30, 2025, the City had invested $12,621,918 and $32,217,357 in, California Asset Management Program and Public Financial Management, respectively, which exceeded five percent of total investments.

Custodial Credit Risk
Custodial credit risk is the risk that in the event of a bank failure, the City’s deposits may not be returned to it.

The City does not have a policy for custodial credit risk for deposits. However, the California Government code requires that a financial institution secure deposits made by State or local governmental units by pledging securities in an undivided collateral pool held by a depository regulated under State law (unless so waived by the governmental unit). The market value of the pledged securities in the collateral pool must equal at least 110 percent of the total amount deposited by the public agencies. California law also allows financial institutions to secure public deposits by pledging first trust deed mortgage notes having a value of 150 percent of the secured public deposits and letters of credit issued by the Federal Home Loan Bank of San Francisco having a value of 105 percent of the secured deposits.

NOTE 3 -INTERFUND TRANSACTIONS
A. Interfund Receivables and Payables
Current interfund balances arise in the normal course of business and are expected to be repaid shortly after the end of the fiscal year.

As of June 30, 2025, interfund receivables and payables consisted of the following:

Due from Due to
Fund Other Funds Other Funds
General Fund 7,147,595$ 1,054,997$
Local Transportation Fund - 1,025,825
Nonmajor Governmental Funds - 5,066,773
Total Due from/to 7,147,595$ 7,147,595$
B. Transfers In/Out
The City utilizes interfund transactions to account for funding received by the General Fund or other funds, which is then distributed to the other funds for special uses, such as payment of debt or capital project and to supplement other funding sources. With Council approval, resources may be transferred from one City fund to another.

354
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Transfers between funds during the fiscal year ended June 30, 2025 were as follows:

Fund Transfer in Transfer out
General Fund 2,062,602$ 942,528$
Off-site Street Improvement Fund - 30,938
Housing Authority Special Revenue Fund - 65,000 Municipal Facilities and Equipment Fund - 382,567 Local Transportation Fund 674,076 -
Nonmajor Governmental Funds 1,654,136 2,969,781
Total Transfers 4,390,814$ 4,390,814$
NOTE 4 - NOTES RECEIVABLE
Notes receivable, including accrued interest, comprised balances from the following programs as of June 30, 2025:

Description Amount
Bay Homes Development Corporation 1,546,453$
Cottonwood Creek Housing Association, LP 6,645,442
First Time Home Buyer Programs 922,207
CDBG Loans 15,052
Reimbursement from Successor Agency 434,258
Total Governmental Funds 9,563,412
Solano County-Library Construction-Principal 657,079
Solano County-Library Construction-Interest 5,253
Total Successor Agency 662,332
Total Notes Receivable 10,225,744$
The following information summarizes the details of significant notes receivable reported in the governmental funds:

Bay Homes Development Corporation
The note receivable of $1,546,453 relates to a loan made by the former RDA Housing Set-Aside fund to the Bay Homes Development Corporation (the “Corporation”) for the purpose of constructing a 28-unit very low- and moderate-income rental housing project. Due to RDA dissolution, the former Redevelopment Agency assigned this agreement to the Housing Authority and is accounted for in the Housing Authority Special Revenue Fund. The loan bears interest at 2 percent per annum and is secured by a deed of trust, assignment of rents, security agreement, and fixture filing on the underlying project.

Repayment of the loan is to be made from residual cash flows to the extent generated by the completed housing project. The Corporation has fully paid all interest due as of June 30, 2025. All outstanding balance and accrued but unpaid interest is due and payable on June 21, 2026. Subsequent to the issuance of this report, the Corporation did not have the ability to repay the loan and is exploring the sale of it’s property and dissolution of the Corporation.

355
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Cottonwood Creek Housing Association
The former Redevelopment Agency entered to a Disposition, Development and Loan agreements with Cottonwood Creek Housing Associates, LP, a California limited partnership for the construction of Cottonwood Creek Apartments, a low-and-moderate income housing project of the Agency. The total loan agreement provides for loans up to $7,950,000. The loan bears a contingent simple interest of 3 percent from the date of disbursement until paid and is secured by a deed of trust with assignment rents and security agreement. Repayment of the loan is contingent upon availability of residual income. The loan receivable at June 30, 2025 consists of a note from the sale of land valued at $1,800,000 and cash advances of $4,845,442. Due to the dissolution of the former Redevelopment Agency, the Successor Agency has assigned this agreement to the Housing Authority and the note is accounted for in the Housing Authority Special Revenue Fund.

First Time Home Buyers
To create affordable homeownership opportunities for qualified low-and-moderate income persons and households, the former Suisun City Redevelopment Agency (the “Agency”) provided down payment assistance in the form of second mortgages. The loan terms are zero percent interest with deferred monthly payments. Each loan is due upon the sale of the property, or in the event of a default (e.g., homeowner decides to rent the house). In the event of a sale, the borrower is required to pay the Agency the outstanding principal amount of the loan in addition to the Agency’s pro rata share of equity appreciation (amount of loan/original purchase price-approved capital improvements). The loans are completely forgiven if the borrower stays in the home for forty-five (45) years. The Agency may collect repayments when the property is sold or is in default of the loan terms. As of June 30, 2025, the aggregate outstanding balance of loans under this program was $922,207. Due to the dissolution of the former Redevelopment Agency, the Successor Agency has assigned this agreement to the Housing Authority.

Successor Agency Reimbursement Agreement
Pursuant to a reimbursement agreement, the former Redevelopment Agency of the City of Suisun City (RDA) is responsible for reimbursing the City for all lease payments (lease payments may also be referred to as debt service) paid to the Suisun City Public Financing Authority relating to a Certificate of Participation (COP) financing arrangement originally issued for the construction of the Suisun City Civic Center in 1987. As of January 31, 2012, the remaining reimbursement obligation of the former RDA (now the successor agency) was $6,168,318. The balance as of June 30, 2025 was $434,258.

NOTE 5 - LEASES RECEIVABLE
The primary objective of GASB Statement No. 87, Leases is to enhance the relevance and consistency of information about governments' leasing activities. This statement establishes a single model for lease accounting based on the principle that leases are financings of the right to use an underlying asset. Under this Statement, the City is required to recognize a lease receivable and a deferred inflow of resources as a lessor.

As of June 30, 2025, the City had four active leases with receipts ranging from $20,000 to $41,932 and interest rates ranging from 0.4110% to 3.177%. The total combined value of the lease receivable was $65064, and the combined value of the deferred inflow of resources was $59,613 as of June 30, 2025.

356
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
The following summarizes the future collections of leases receivable:

Year Ending June 30, Principal Interest Total
2026 59,434 $ 675$ 60,109$
2027 4,382 17 4,399
Total 63,816 $ 692$ 64,508$
NOTE 6 -CAPITAL ASSETS
Capital assets activity for the year ended June 30, 2025 was as follows:

Balance Adjustments/ Balance
Governmental Activities June 30, 2024 Additions Deletions June 30, 2025 Non-depreciable:

Land 44,533,706$ -$ -$ 44,533,706$ Construction in Progress 957,571 6,289,309 (1,921,929) 5,324,951 Total Non-Depreciable 45,491,277 6,289,309 (1,921,929) 49,858,657 Depreciable:

Buildings 29,966,360 - - 29,966,360 Buildings and improvements 14,547,985 196,795 - 14,744,780 Equipment 18,288,734 382,964 - 18,671,698 Infrastructure 52,355,198 908,418 (4,374,816) 48,888,800 Streets-Pavement System 108,540,123 466,027 4,374,816 113,380,966 Leased right of use assets 115,622 - - 115,622 Subscription based assets 805,374 - - 805,374 Total Depreciable 224,619,396 1,954,204 - 226,573,600 Less Accumulated Depreciation for:

Buildings (15,258,189) (587,155) - (15,845,344) Buildings and improvements (13,903,269) (138,533) - (14,041,802) Equipment (8,182,196) (1,194,733) - (9,376,929) Infrastructure (31,479,838) (905,810) - (32,385,648) Streets-Pavement System (73,564,461) (1,744,730) - (75,309,191) Leased right of use assets (32,118) (38,540) - (70,658) Subscription based assets (232,227) (121,073) - (353,300) Total Accumulated Depreciation (142,652,298) (4,730,574) - (147,382,872) Total Depreciable Capital Assets - Net 81,967,098 (2,776,370) - 79,190,728 Total Governmental Capital Assets 127,458,375$ 3,512,939$ (1,921,929)$ 129,049,385$ Internal Service Funds
Vehicle, Machines and Equipment 3,571,035$ 24,974$ -$ 3,596,009$ Accumulated Depreciation (2,730,031) (450,854) - (3,180,885) Right of Use Assets:

Subscription based assets 119,046 - (119,046) - Accumulated Amortization (79,364) (39,682) 119,046 - Leased equipment 2,264,703 166,424 (177,939) 2,253,188 Accumulated Amortization (933,207) (463,434) 177,939 (1,218,702) Total Internal Service Funds - Net 2,212,182 (762,572) - 1,449,610 Total Capital Assets - Net 129,670,557$ 2,750,367$ (1,921,929)$ 130,498,995$

357
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Depreciation expense was charged to governmental activities as follows:

General Government 3,167$
Public Safety 187,192
Public Works 846,434
Highways and Streets 2,690,662
Building Services 812,472
Culture and Recreation 749,360
Community Development 395,257
Total depreciation expense 5,684,544$
NOTE 7 -NONCURRENT LIABILITIES
A. City Noncurrent Liabilities
The City's noncurrent liabilities consisted of the following as of June 30, 2025:

Due
Beginning Ending Within One
City Debt Balance Additions Deletions Balance Year
Long-term Debt:

North Bay Aqueduct due 7/1/36 907,335$ -$ 77,740$ 829,595$ 77,740$ PG&E On-Bill Financing Loan 146,728 - 19,784 126,944 19,788 Lease Liabilities 1,425,353 154,051 486,850 1,092,554 459,080 Subscription Based Information
Technology Agreements 608,193 - 160,278 447,915 107,312 Financed Purc hases 5,827,044 - 246,528 5,580,516 216,140 Subtotal Long-term Debt 8,914,653 154,051 991,180 8,077,524 880,060 Settlement Liability Payable 387,422 - 193,511 193,911 193,911 Claims Payable 965,512 452,742 558,446 859,808 390,000 Net Pension Liabilities 25,141,886 9,686,458 9,963,169 24,865,175 - Total OPEB Liability 3,367,589 1,772,433 1,751,569 3,388,453 - Compensated Absences 1,222,800 629,868 - 1,852,668 895,743 Total Noncurrent Liabilities -
City of Suisun City 39,999,862$ 12,695,552$ 13,457,875$ 39,237,539$ 2,359,714$ North Bay Aqueduct Agreement Payable
On October 22, 1985, the City entered into an agreement with the Solano County Flood Control and Water Conservation District for the purpose of obtaining an additional water supply up to a maximum of 1,300 acre- feet per annum. Under the agreement, the City is required to make annual payments to the District for the cost to the District of route for the reach of the North Bay Aqueduct from the Delta to Cordelia (the capital cost of the Phase 2 of the North Bay Aqueduct). The City is obligated under the agreement to levy a zone of benefit property tax sufficient to provide for payment under the agreement. The agreement bears no interest and matures July 1, 2036.

358
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Lease Liabilities
The primary objective of GASB Statement No. 87, Leases is to enhance the relevance and consistency of information about governments' leasing activities. This statement establishes a single model for lease accounting based on the principle that leases are financings of the right to use an underlying asset. Under this Statement, the City is required to recognize a right of use assets and leases liabilities as a lessee.

As of June 30, 2025, the City had fifty active leases. The leases have payments that range from $108 to $ 37,971
and interest rates that range from 0% to 3.451%. As of June 30, 2025, the City's total lease liability was $1,092,554. The combined right to use assets totaled $2,368,810, with accumulated amortization of $1,289,360 as of June 30, 2025.

Subscription Based Information Technology Agreements
GASB Statement No. 96, Subscription-Based Information Technology Arrangements, established a single model for subscription accounting based on the principle that subscriptions are financings of the right to use an underlying asset. Under this Statement, the City is required to recognize a subscription liability and an intangible right-to-use subscription asset.

As of June 30, 2025, the City had three active subscriptions. The subscriptions have payments that range from $13,000 to $120,055 and interest rates that range from 2.354% to 2.845%. As of June 30, 2025, t he total combined value of the subscription liability was $447,915. The combined value of the right to use asset, as of was $805,374 with accumulated amortization of $353,300.

Financed Purchases
In fiscal year 2018-19, the City entered into a twenty-year agreement with Sterling National Bank to purchase solar power generation, LED lighting, HVAC replacements, street/traffic lighting and sports lighting, in the amount of $5,976,000. The note is payable in yearly installments ranging from $301,934 to $669,244, including interest of 3.923%, through December 1, 2038. The assets constructed using the proceeds had a total cost of $5,943,613 with a net book value of $4,997,576 as of June 30, 2025 In fiscal year 2018-19, the City entered into a seven-year agreement with Sun Ridge Systems, Inc to purchase Sun Ridge computer software to be used by the City, in the amount of $377,142. The note is payable in yearly installments of $60,342, including interest of 4%, through October 4, 2024. The remaining assets under the note had a total cost of $393,777 with a net book value of $56,254 as of June 30, 2025 In fiscal year 2020-21, the City entered into a ten-year agreement with Golden State Fire Apparatus to purchase a mobile light and air unit in the amount of $435,964. The note is payable in yearly installments of $50,417, including interest of 2.65%, through January 20, 2021. The remaining assets under the note had a total cost of $435,964 with a net book value of $348,772 as of June 30, 2025 PG&E On-Bill Financing Loan
In fiscal year 2023-24, the City entered into a ninety-four-month interest free loan with PG&E to partially fund energy savings projects. The loan amount was $154,971 and is payable in monthly installments of $1,649. The remaining assets under the note had a total cost of $154,971 with a net book value of $126,944 as of June 30, 2025.

359
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Long-Term Debt Service Requirements
The annual debt service requirements on long-term debt is as follows:

Year Ending
June 30, Principal Interest Total
2026 880,060$ 243,877$ 1,123,937$
2027 756,705 226,897 983,602
2028 709,262 210,370 919,632
2029 581,951 193,521 775,472
2030 448,157 178,018 626,175
2031-2035 2,369,455 686,896 3,056,351
2036-2040 2,331,934 233,073 2,565,007
Total 8,077,524$ 1,972,652$ 10,050,176$
Settlement Liability Payable
The State Controller’s Office completed an Asset Transfer Review in February 2014. The City complied with all findings of the Asset Transfer Review except for the assets amounting to $1,935,512, that were subjected to the Complaint for Declaratory Relief and Injunctive Relief filed by the City in June 2013 against the State of California Department of Finance. However, an agreement was reached on July 2016, without admission of fault or wrongdoing by the parties involved and the City agreed to remit a total of $1,935,512. Each December 31 until 2025, the City will remit $193,511 to the Auditor- Controller.

Claims Payable
The City has recorded a liability for potential claims in excess of amounts covered by the insurance pool. See Note 8 for further discussion on the City’s risk management activities. The following is a summary of changes in City recorded claim liabilities during the last two fiscal years:

Year Ended Year Ended
June 30, 2025 June 30, 2024
Beginning of year 965,512$ 930,471$
Changes in estimates and amounts incurred 452,742 483,375 Claims paid and adjustments (558,446) (448,334)
Ending balance 859,808 965,512
Current portion (390,000) (440,000)
Non-current portion 469,808$ 525,512$

360
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Successor Agency Noncurrent Liabilities
The Successor Agency’s noncurrent liabilities consisted of the following as of June 30, 2025:

Due
Beginning Ending Within One
Successor Agency Debt Balance Additions Deletions Balance Year Tax Allocation Bonds:
2014-B Tax Allocation Refunding Bonds 25, 690,000$ -$ 2,445,000$ 23,245,000$ 2,465,000$ 2014-B Premium, Net 3,207,854 - 291,621 2,916,233 - Total Tax Allocation Bonds 28,897,854 - 2,736,621 26,161,233 2, 465,000 Loans Payable:

Marina Loan #94-5-319 4. 5%, due 10/1/48 1,293,653 - 29,030 1,264,623 29,030 Marina Loan #91-10-305, 4.5%, due 8/1/42 2,857,313 - 98,316 2,758,997 98,316 Marina Expansion Loan 7.239%, due 10/24/25 369,763 - 241,232 128,531 241,232 Total Loans Payable 4,520,729 - 368,578 4,152,151 368,578 Total Successor Agency Debt 33,418,583$ -$ 3,105,199$ 30,313,384$ 2,833,578$ As of February 1, 2012, the bonds and all other loans payable of the former Redevelopment Agency were transferred to the Successor Agency of the Suisun City Redevelopment Agency due to ABx1 26, which dissolved redevelopment agencies in the State of California as of January 31, 2012. The Successor Agency, a separate legal entity, is responsible for the repayment of the principal and interest of the outstanding bonds.

Additions to the Successor Agency, in the form of property taxes, have been pledged for the repayment of enforceable obligations (which include the bonds). Since the Redevelopment Agency no longer exists, the bonds were removed from the City's government-wide financial statements.

In December of 2014, the Successor Agency issued the 2014 Bonds pursuant to authority granted by Part 1 (commencing with Section 33000) and Part 1.85 of Division 24 (commencing with Section 34170) of the California Health and Safety Code (the “Law”), Article 11 (commencing with Section 53580) of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government Code of the State of California (the “Refunding Law”), for the purpose of achieving debt service savings within the parameters set forth in Section 34177.5(a)(1) (the “Savings Parameters”).

The Successor Agency issued the 2014 Bonds, in order to redeem and defease the outstanding series of bonds issued by the Redevelopment Agency of the City of Suisun City. Proceeds of the 2014 Bonds were used to pay the cost of issuing the 2014 Bonds, including premium on a municipal bond insurance policy.

The 2014 Series B Bond has an issuance principal of $38,230,000, bearing interest at rates from 4.00% to 5.00%.

Interest is payable semi-annually each April 1 and October 1, through 2033. Principal payments are due October 1, through 2033. The bonds are secured by tax increment revenue generated in the Former Agency’s Suisun City Redevelopment Project Area.

NOTE 8 -RISK MANAGEMENT
Risk Management and Liability Coverages
As part of our comprehensive risk management strategy, the City of Suisun is a self-insured member of the Pooled Liability Assurance Network Joint Powers Authority (PLAN JPA), the Local Agency Workers' Compensation Excess Joint Powers Authority (LAWCX JPA), and the Employment Risk Management Authority Joint Powers Authority (ERMA JPA).

361
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
The city maintains the following Self-Insured Retentions (SIR):
 $25,000 for general liability claims,
 $5,000 for property and vehicle damage claims,
 $250,000 for workers' compensation claims, and
 $50,000 for employment liability claims.

Our liability coverage limits include $1 million per occurrence, less our $25,000 SIR, with excess coverage up to $30 million per occurrence. Additionally, our property and vehicle coverage limits encompass all losses and damages, less the $5,000 SIR.

These coverages help mitigate potential risks associated with our operations, reducing financial exposure and safeguarding public resources. The city continuously reviews and updates its liability coverages to align with evolving risks and regulatory requirements, ensuring that our coverage remains comprehensive and effective.

Financial statements for any of the JPAs may be obtained at1750 Creekside Oaks Drive, Suite 200, Sacramento, CA 95833 or online at as follows:
 PLAN JPA: https://www.planjpa.org/documents/governing/  LAWCX JPA: https://www.lawcx.org/documents/governingdocuments/  ERMA JPA: https://www.ermajpa.org/documents/financials/ The City has coverage for Commercial Crime under Driver Alliant Integrated Insurance. This policy provides coverage up to a maximum of $1,000,000, with a $5,000 deductible.

All funds of the City participate in the program and make payments to the self-insurance fund based on estimates of amounts needed to pay prior and current year claims and to establish a reserve for catastrophe losses. The claims liability of $
859,808 reported in the fund at June 30, 2025 is based on accounting standards which require that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred and the amount of the loss can be reasonable estimated.

NOTE 9 -RETIREMENT PLANS
A. General Information about the Pension Plans
Plan Description
All qualified employees are eligible to participate in the City’s Miscellaneous and Safety (Fire and Police) Employee Pension Plans (the Plans); cost-sharing multiple employer defined benefit pension plans administered by the California Public Employees’ Retirement System (CalPERS). B enefit provisions under the Plans are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.

362
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Benefits Provided
CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members. Benefits are based on age at retirement, highest salary for either a one or three year period and years of credited service. The cost of living adjustments for the Plans are applied as specified by the Public Employees’ Retirement Law. The Plans’ provisions and benefits in effect at June 30, 2025, are summarized as follows:

Tier 1 Tier 1 Police
PEPRA
Police
PEPRA
Fire Fire
Benefit formula 2% @ 55 2% @ 62 3.0% @ 50 2.7% @ 57 2.7% @ 57 2% @ 55 Benefit vesting schedule 5 Years 5 Years 5 Years 5 Years 5 Years 5 Years Benefit payments Monthl y
for Life
Monthl y
for Life
Monthl y
for Life
Monthl y
for Life
Monthl y
for Life
Monthl y
for Life
Retirement age 55 62 50 57 57 55
Monthl y benefits as a
% of eligible compens ation 2% 2% 3% 2-2.7% 2-2.7% 3%
Required employee contribution rates 7.00% 7.75% 9.00% 13.75% 11.00% 7.00% Required employer contribution rates 12.52% 7.87% 27.32% 13.76% 11.05% 17.55% Miscellaneous Safety
Employees Covered
At June 30, 2025, the following employees were covered by the benefit terms for the Plan:

Miscellaneous Safety Total
Active 69 35 104 Transferred 51 56 107 Separated 64 19 83 Retired 125 67 192 Total 309 177 486 Contributions
Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rates are the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. For the year ended June 30, 2025, the following contributions were made by the City:

Employer
Contributions
Miscellaneous 1,268,670$
Safety 2,167,883
Total Employer Contributions 3,436,554$

363
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
B. Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions As of June 30, 2025, the City reported net pension liabilities for its proportionate shares of the net pension liability of each plan as follows:

Miscellaneous
Safety
Total
Proportionate Share of
Net Pension
Liability/(Asset)
$ 1 1,351,346
1 3,513,829
$ 2 4,865,175
The City’s net pension liability for the Plans is measured as the proportionate share of the net pension liability.

The net pension liability of all the Plans are measured as of June 30, 2024, and the total pension liability for the Plans used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2023 rolled forward to June 30, 2024 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 plans relative to the projected contributions of all participating employers, actuarially determined.

The City’s proportionate share of the net pension liability for the miscellaneous and safety plans as of June 30, 2024 and 2025 was as follows:

Miscellaneous Safety
Proportion - June 30, 2024 0.22733% 0.18428%
Proportion - June 30, 2025 0.23470% 0.18535%
Change - Increase/(Decrease) 0.00737% 0.00108%
For the year ended June 30, 2025, the City recognized pension expense of $2,122,024.

At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Changes of Assumptions 291,753$ -$ 332,953$ -$ Differences between Expected and Actual Experience 981,428 38,295 1,102,849 35,858 Differences between Projected and Actual Investment Earnings 653,483 - 653,197 - Differences between Employer's Contributions and
Pro portionate Share of Contributions - 104,673 456,383 80,742 Change in Employer's Proportion 8,631 120,254 48,565 103,102 Pension Contributions Made Subsequent to Measurement Date 1,268,670 - 2,167,883 - Total 3,203,966$ 263,221$ 4,761,830$ 219,702$ SafetyMiscellaneous
The City reported $3,436,554 as deferred outflows of resources related to contributions subsequent to the measurement date that will be recognized as a reduction of the net pension liability in the year ended June 30, 2026.

364
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Miscellaneous Safety Total
502,384$ 906,492$ 1,408,876$
1,403,379 1,633,868 3,037,247
(9,748) 57,379 47,631
(223,941) (223,494) (447,435)
- - -
- - -
1,672,074$ 2,374,245$ 4,046,319$
2026
2030
Total
2027
2028
2029
Thereafter
Deferred Outflows/(Inflows) of
ResourcesFiscal Year
Ending June 30:Actuarial Assumptions
The total pension liabilities in the June 30, 2023 actuarial valuations were determined using the following actuarial assumptions:

Valuation Date June 30, 2023
Measurement Date June 30, 2024
Actuarial Cost Method Entry-Age
Normal Cost
Method
Actuarial Assumptions:

Discount Rate 6.90%
Inflation 2.30%
Payroll Growth 2.80%
Projected Salary Inc rease (1)
Investment Rate of Return 6.8% (2)
Mortality (3)
(1) Varies by entry age and service
(2) Net of pension plan investment expenses, including inflation (3) Derived using CalPERS' membership data for all funds Discount Rate
The discount rate used to measure the total pension liability was 6.9 percent for the Plans. To determine whether the municipal bond rate should be used in the calculation of a discount rate for the Plans, CalPERS stress tested plans that would most likely result in a discount rate that would be different from the actuarially assumed discount rate. Based on the testing, none of the tested plans run out of assets. Therefore, the current 6.9 percent discount rate is adequate and the use of the municipal bond rate calculation is not necessary. The long term expected discount rate of 6.9 percent will be applied to all plans in the Public Employees Retirement Fund (PERF). The stress test results are presented in a detailed report that can be obtained from the CalPERS website.

According to Paragraph 30 of Statement 68, the long-term discount rate should be determined without reduction for pension plan administrative expense. The 6.9 percent investment return assumption used in this accounting valuation is net of administrative expenses.

365
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations as well as the expected pension fund cash flows. Using historical returns of all the funds’ asset classes, expected compound returns were calculated over the short-term (first 10 years) and the long-term (11-60 years) using a building-block approach. Using the expected nominal returns for both short- term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equivalent to the single equivalent rate calculated above and rounded down to the nearest one quarter of one percent.

The table below reflects the long-term expected real rate of return by asset class. The rate of return was calculated using the capital market assumptions applied to determine the discount rate and asset allocation.

These rates of return are net of administrative expenses.

Assumed Long-Term
Asset Expected Real
Asset Class (a) Allocation Return (1)(2)
Global Equity Cap Weighted 30.00% 4.54%
Global Equity NonCap Weighted 12.00% 3.84%
Private Equity 13.00% 7.28%
Treasury 5.00% 0.27%
Mortgage-backed Securities 5.00% 0.50%
Investment Grade Corporates 10.00% 1.56%
High Yield 5.00% 2.27%
Emerging Market Debt 5.00% 2.48%
Private Debt 5.00% 3.57%
Real Assets 15.00% 3.21%
Leverage -5.00% -0.59%
Total 100.00%
(1) An expected inflation of 2.3% used for this period. (2) Figures are based on the 2021-22 Asset Liability Study.

366
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
C. Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the City’s net pension liability for the Plans, calculated using the discount rate for the Plans, as well as what the City’s net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate:

Miscellaneous Safety
1% Decrease 5.90% 5.90%
Net Pension Liability 16,994,022$ 20,803,186
Current 6.90% 6.90%
Net Pension Liability 11,351,346$ 13,513,829
1% Increase 7.90% 7.90%
Net Pension Liability 6,706,594$ 7,552,159
Pension Plan Fiduciary Net Position
Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.

NOTE 10 -OTHER POSTEMPLOYMENT BENEFITS PLAN
Plan Description
The City administers a single-employer defined-benefit postemployment healthcare plan (the OPEB plan).

Benefit are paid for the lifetime of the retiree, spouse or surviving spouse, and dependents up to the age of 26.

Benefits Provided
Employees become eligible to retire and receive the City-paid healthcare benefits upon attainment of age 50 and 5 years of covered PERS service. The City’s contribution on behalf of all eligible retirees and surviving spouses is the same as its contribution for active employees ($140 for 2021, indexed by the Medical CPI thereafter).

The City has not included shared benefit costs in its projections of benefit payments and has not shared benefit costs with inactive employees historically.

Employees Covered by Benefit Terms
As of July 1, 2024 (the valuation date), the benefit terms covered the following employees:

Active employees 96
Inactive employees 24
Total employees 120
Contributions
The City makes contributions based on an actuarially determined rate and are approved by the authority of the City’s Council. Total benefit payments included in the measurement period were $103,152. The City’s contributions were .91% of covered employee payroll during the measurement period June 30, 2025 (reporting period June 30, 2025). E mployees are not required to contribute to the plan. There have been no assets accumulated in a trust to provide for the benefits of this plan.

367
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Actuarial Assumptions
The following summarized the actuarial assumptions for the OPEB plan included in this fiscal year:

Valuation Date: July 1, 2024
Measurement Date: June 30, 2025
Actuarial Cost Method: Entry Age, Level Percent of Pay
Amortization Period: 10.9 years
Actuarial Assumptions:

Discount Rate 5.20%
Inflation 2.50%
Salary Increases 3.00%
Healthcare Trend Rate 4% to 7%
Mortality Pre-retirement: RP-2000-2019 Employee Mortality Table Post-retirement: RP-2000-2019 Health Annuitant Mortality Table ** The discount rate increased from 3.97% to 5.2%
Discount Rate
The discount rate was based on the Bond Buyer 20-bond General Obligation Index.

Changes in the Total OPEB Liability
The following summarizes the change in the total OPEB liability during the year ended June 30, 2025:

Fiscal Year Ended June 30, 2024
Total OPEB
Liability
Balance at June 30, 2023 3,367,590$
Service cost 327,061
Interest in Total OPEB Liability 157,676
Balance of diff between actual and exp experience 159,555 Balance of changes in assumptions (520,276)
Benefit payments (103,152)
Net changes 20,864
Balance at June 30, 2024 3,388,454$
Covered Employee Payroll 11,341,540$
Total OPEB Liability as a % of Covered Employee Payroll 29.88% Service Cost as a % of Covered Employee Payroll 2.88%
The City’s plan is nonfunded, meaning there have not been assets placed into an irrevocable trust, therefore the plan fiduciary net position is zero.

368
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Deferred Inflows and Outflows of Resources
At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Difference between actual and expected experience 146,147$ 636,699$ Change in assumptions 416,713 1,029,043
Totals 562,860$ 1,665,742$
Amounts reported as deferred outflows or resources and deferred inflows of resources related to OPEB will be recognized in OPEB expenses as follows:

Year Ended June 30,
2026 (154,580)$
2027 (166,387)
2028 (226,401)
2029 (216,798)
2030 (87,507)
Thereafter (251,209)
Total (1,102,882)$
OPEB Expense
The following summarizes the OPEB expense by source during the year ended June 30, 2025:

Service cost 327,061$
Interest in TOL 157,676
Difference between actual and expected experience (116,904) Change in assumptions (37,676)
OPEB Expense 330,157$
The following summarizes changes in the total OPEB liability as reconciled to OPEB expense during the year ended June 30, 2025:
3,388,454$
(3,367,590)
20,864
Changes in deferred outflows (17,326)
Changes in deferred inflows 223,467
Employer contributions and implicit subsidy 103,152
OPEB Expense 330,157$
Total OPEB liability ending
Total OPEB liability beginning
Change in total OPEB liability

369
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025
Sensitivity to Changes in the Municipal Bond Rate
The total OPEB liability of the City, as well as what the City's total OPEB liability would be if it were calculated using a municipal bond rate (used to determine the discount rate) that is one percentage point lower or one percentage point higher, is as follows:
(1% Decrease ) 5.20% (1% Increase )
Total OPEB Liability 3,933,991$ 3,388,454$ 2,946,776$ Municipal Bond Rate
Sensitivity to Changes in the Healthcare Cost Trend Rates The total OPEB liability of the City, as well as what the City's total OPEB liability would be if it were calculated using healthcare cost trend rates that are one percentage point lower or one percentage point higher than current healthcare cost trend rates, is as follows 1% Decrease Current 1% Increase
Total OPEB Liability 2,833,949$ 3,388,454$ 4,110,663$ Trend Rate
NOTE 11 -COMMITMENTS AND CONTINGENCIES
A. Lawsuits
The City is presently involved in certain matters of litigation that have arisen in the normal course of conducting City business. City management believes, based upon consultation with the City Attorney, that these cases, in the aggregate, are not expected to result in a material adverse financial impact on the City. Additionally, City management believes that the City's insurance programs are sufficient to cover any potential losses should an unfavorable outcome materialize.

B. Federal and State Grant Programs
The City participates in a number of Federal and State programs that are fully or partially funded by grants received from other governmental units. Expenditures financed by grants are subject to audit by the appropriate grantor government. If expenditures are disallowed due to noncompliance with grantor program regulations, the City may be required to reimburse the grantor government. As of June 30, 2025, some amounts of grant expenditures have been audited and no disallowances were noted as a result of those audits. The City believes that any disallowed expenditures for programs that were not audited will not have a material effect on any individual governmental funds or the overall financial condition of the City.

C. Successor Agency
Deductions (expenses) incurred by the Successor Agency for the year ended June 30, 2025 (and subsequent years in which the Successor Agency is in operation) are subject to review by various State agencies and the County in which the Successor Agency resides. If any expenses incurred by the Successor Agency are disallowed by the State agencies or County, the City, acting as the Successor Agency could be liable for the repayment of the disallowed costs from either its own funds or by the State withholding remittances normally paid to the City. The amount, if any, of expenses that may be disallowed by the State agencies or County cannot be determined at this time, although the Successor Agency expects such amounts, if any, to be immaterial.

370
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025

NOTE 12 - DISSOLUTION OF REDEVELOPMENT AGENCY

The former City of Suisun Redevelopment Agency was dissolved as of January 31, 2012. Certain assets of the general fund were distributed to the Housing Successor Agency and all remaining assets of the former Redevelopment Agency were distributed to the Successor Agency.

Subsequent to the adoption of AB 1X 26 and AB 1X 27, the California State Legislature adopted AB 1484 in June 2012. AB1484 directed the State Controller to review whether all assets transferred had occurred between the City or County, or City and County that created a redevelopment agency or any other public agency, and the redevelopment agency between January 1, 2011 and January 31, 2012.

NOTE 13 - SUBSEQUENT EVENTS

A. Basis and Period of Evaluation

Management has evaluated events and transactions that occurred after June 30, 2025 through September 2, 2026, the date the accompanying basic financial statements were available to be issued, for recognition or disclosure in these financial statements. Because of the extended period between the City’s fiscal year end and the date the financial statements were available to be issued, the evaluation period covers approximately fourteen months.

Events that provide additional evidence about conditions that existed at June 30, 2025, including the estimates inherent in preparing these financial statements, have been recognized in the accompanying financial statements.

Events that provide evidence about conditions that arose after June 30, 2025 have not been recognized; those of such a nature that the financial statements would be misleading without disclosure are described in Part B below.

B. Nonrecognized Subsequent Events (conditions arising after June 30, 2025)

1. Cybersecurity incident and proclamation of a local emergency. At approximately 5:45 a.m. on August 7, 2026, malicious software infected and compromised the City’s information technology systems. The City shut down its entire information technology network to contain the incident. Affected operations included 911 call routing, police and fire dispatch, and City records and services. Emergency dispatch was carried out through the Solano County dispatch center, and public safety field services remained active throughout. The City activated its Emergency Operations Center and has coordinated its response with the Federal Bureau of Investigation, the United States Department of Homeland Security, and the California Governor’s Office of Emergency Services.

At a special meeting on August 8, 2026, the City Council proclaimed a local emergency pursuant to Government Code section 8630, which enables the City to obtain emergency support services and to pursue recovery of costs incurred as a result of the incident, per Resolution No. 2026-105, via 4 Yes and 1 absent vote.

The local emergency shall be deemed to continue to exist until its termination is proclaimed by the City Council.

City Hall was closed to the public beginning August 7, 2026. The Planning, Building, Housing, Finance, Human Resources, Public Works, City Manager and Administration functions remained closed to the public through August 31, 2026. The City Hall utility payment counter reopened on August 18, 2026 accepting cash and check only, as credit and debit card processing had not been restored, and the City twice extended the deadline for water service disconnections, most recently to September 23, 2026. The City’s investigation of the incident remained ongoing as of September 2, 2026 and no evidence had been identified indicating that any personal data was affected.

Through September 2, 2026, the City had incurred costs of approximately $677,175 for incident response, forensic investigation, system restoration and related activities. The City maintains cyber liability insurance coverage applicable to certain costs and losses arising from the incident, subject to the terms, conditions, limits, sublimits, and retention of the policy. The City remains in the active response and recovery phase, and costs continue to be incurred and evaluated. Accordingly, the total cost of the incident, the amount that may ultimately

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City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025

be recoverable under the City’s insurance coverage, and the effect on the timing of utility billing and collections and on the collectability of utility accounts receivable cannot presently be determined. Because these events occurred after June 30, 2025, no amounts related to the incident are recorded in the accompanying financial statements.

2. Sale of City -owned downtown property. In May 2026, the City, Housing Authority, Successor Agency to the Redevelopment Agency and CF Suisun 1 LLC, and CF Suisun 2 LLC entered into agreements for the sale of government-owned downtown property, structured to close in phases, some of which are subject to subsequent approval by the Solano Consolidated Oversight Board. The first phase closed on September 1, 2026, transferring ownership of 707 Main Street and two parking lots to CF Suisun 1 LLC, and CF Suisun 2, LLC, respectively.

Under the agreement, the City leases the two parking lots back for $1 per year and continues to maintain and operate them for public use. Redevelopment of the property is to proceed consistently with the City’s General Plan and Waterfront Downtown Specific Plan.

As provided for in May 26, 2026, Council, Housing Authority, and Successor Agency meeting agenda, the properties were sold for the following prices:

Successor Agency Owned Parcels (Approved May 26, 2026, Resolution No. SA2026 -04): 701 Main Street, 711 Main Street, 713 Main Street, and 717 Main Street
• Proposed Purchase Price: $174,500 (subject to approval of the Solano Consolidated Oversight Board) • Demolition Proration: $59,500
• Final Purchase Price: $115,000
• Deposit Amount: $10,000

Housing Authority Owned Parcel (Approved May 26, 2026, Resolution No. HA2026-04: 707 Main Street • Proposed Purchase Price: $37,000
• Demolition Proration: $16,650
• Final Purchase Price: $20,350
• Deposit Amount: $5,000

City Owned Parcels (Parking Lots) (Approved May 26, 2026, Resolution No. 2026 -66): APN: 0032-141 - 170, and APN: 0032-141-180
• Proposed Purchase Price: $1,005,000
• Demolition Proration: $0
• Final Purchase Price: $1,005,000
• Deposit Amount: $50,000

At June 30, 2025, these properties are reported as capital assets .of the governmental activities / Successor Agency to the former Redevelopment Agency and Housing Authority. The disposition of the properties and the related parking lot leaseback will be recognized in the financial statements for the year ending June 30, 2027.

No amounts related to the agreement or the closing are recognized in the accompanying financial statements as of June 30, 2025.

3. Adopted budgets and General Fund financial condition. On June 24, 2025, the City Council adopted the operating budget for the year ending June 30, 2026, and on June 23, 2026, adopted the operating budget for the year ending June 30, 2027. The adopted fiscal year 2026-27 General Fund budget projects expenditures and transfers out exceeding revenues and transfers in by approximately $2,461,800, to be funded from available fund balance. In response, on June 23, 2026, the Council approved suspension of employee training, reduction in beautification projects, facility repairs and improvements, and elimination of contracted consultant services, with an approximate cost of $1.350 million to balance the budget. Management projects unassigned General

372
City of Suisun City
Notes to the Basic Financial Statements
June 30, 2025

Fund balance of approximately $6.5 million on June 30, 2027, which is equivalent to 20% of the reserve policy target of operating expenditures.

Management has evaluated all other events and transactions through September 2, 2026 and concluded that no additional matters require recognition or disclosure in the accompanying financial statements.

NOTE 14 - PRIOR PERIOD RESTASTEMENTS

The city restated beginning net position as follows:

Changes
Beginning to or within
as Previously Financial Error Beginning
Reported Reporting Entity Corrections as Restated
Fiduciary Funds
Suisun-Solano Water Agency Fund 27,356,622$ -$ (41,039)$ 27,315,583$

373

REQUIRED SUPPLEMENTARY INFORMATION

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375
These schedules present information that shows the City's total other postemployment benefits (OPEB), plan fiduciary net position, and contributions related to retiree healthcare benefits provided by the City.

PENSION SCHEDULES

REQUIRED SUPPLEMENTARY INFORMATION

POSTEMPLOYMENT BENEFIT SCHEDULES

BUDGETARY SCHEDULES
These schedules present comparison of the original budget, final budget and actual revenues and expendirures for General Fund and each major special revenue fund. The schedules present the difference between the final budget and actuals.

These schedules present information that shows the City's proportionate share of the pension liability in the cost sharing pools, actuarial information, and contributions. The proportionate share information is useful in determining the City's liability on relation to all other entities in the pool.

376
City of Suisun City
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual (GAAP Basis)
General Fund
For the year ended June 30, 2025
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Taxes:

Property taxes 2,951,792$ 3,106,792$ 3,469,501$ 362,709$ Transient occupancy tax 740,000 740,000 454,720 (285,280) Sales taxes 7,204,000 7,402,633 7,526,981 124,348 License and permits 2,158,000 2,158,000 2,118,270 (39,730) Fines and forfeitures 199,700 199,700 199,429 (271) Intergovernmental 3,453,235 3,468,235 3,590,747 122,512 Charges for services 5,031,324 5,031,324 4,831,208 (200,116) Investment earnings 5,000 5,000 301,383 296,383 Other revenues 116,900 117,700 542,519 424,819 Total Revenues 21,859,951 22,229,384 23,034,758 805,374

EXPENDITURES
Current:

General government
Accounting Programs 485,505 529,155 471,299 57,856 Citizen Governance 25,000 25,000 9,500 15,500 City Clerk 91,475 91,475 101,719 (10,244) City Council 236,304 236,304 179,939 56,365 City Manager 697,369 870,552 685,868 184,684 City Treasurer 8,674 8,674 11,665 (2,991) Elections 150,800 150,800 77,396 73,404 Finance Administration 163,248 180,748 128,135 52,613 Human Resources 317,274 521,423 406,967 114,456 Investments Programs 71,453 71,453 80,605 (9,152) Non-Departmental 743,166 979,866 1,695,359 (715,493) Utility Billing 1,454,985 1,454,985 1,416,987 37,998 Public safety
Police 11,315,979 11,574,757 10,407,375 1,167,382 Fire 5,762,332 5,769,077 5,319,239 449,838 Public works 615,201 688,920 658,218 30,702 Highways and streets 12,000 12,000 2,817 9,183 Building services 1,074,012 1,118,876 858,802 260,074 Culture and recreation 2,105,865 2,264,303 2,169,615 94,688 Community development 957,639 978,739 906,156 72,583 Capital outlay 1,056,300 1,060,000 570,934 489,066 Debt service:

Principal retirement 160,340 169,340 223,088 (53,748) Interest and fiscal charges - - 2,539 (2,539) Total Expenditures 27,504,921 28,756,447 26,384,222 2,372,225 Excess (Deficiency) of Revenues over Expenditures (5,644,970) (6,527,063) (3,349,464) 3,177,599

OTHER FINANCING SOURCES (USES)
Transfers in 2,592,472 2,249,657 2,062,602 (187,055) Transfers out (1,536,445) (1,593,349) (942,528) 650,821 Total Other Financing Sources (Uses) 1,056,027 656,308 1,120,074 463,766 Net Change in Fund Balance (4,588,943) (5,870,755) (2,229,390) 3,641,365 Fund Balance Beginning 11,085,514 11,085,514 11,085,514 - Fund Balance Ending 6,496,571$ 5,214,759$ 8,856,124$ 3,641,365$ The City employs budget control by function and department. Budgets are prepared on the modified accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America as prescribed by the Governmental Accounting Standards Board. The budgets are revised during the year by the City Manager and the City Council to provide for revised priorities. Expenditures cannot legally exceed appropriations by fund. The originally adopted and final revised budgets for the General Fund are presented as Required Supplementary Information. The basis of budgeting is the same as GAAP.

377
City of Suisun City
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual (GAAP Basis)
Off-site Street Improvement
For the year ended June 30, 2025
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Charges for services 467,443$ 467,443$ 51,429$ (416,014)$ Investment earnings 72,400 72,400 198,539 126,139 Total Revenues 539,843 539,843 249,968 (289,875)

EXPENDITURES
Current:

General government 100,000 100,000 - 100,000 Public works 39,694 120,994 117,132 3,862 Highways and streets - - 4,365 (4,365) Capital outlay 65,800 65,800 - 65,800 Total Expenditures 205,494 286,794 121,497 165,297 Excess (Deficiency) of Revenues over Expenditures 334,349 253,049 128,471 (124,578)

OTHER FINANCING SOURCES (USES)
Transfers out (300,880) (739,120) (30,938) 708,182 Total Other Financing Sources (Uses) (300,880) (739,120) (30,938) 708,182 Net Change in Fund Balance 33,469 (486,071) 97,533 583,604 Fund Balance Beginning 4,668,399 4,668,399 4,668,399 - Fund Balance Ending 4,701,868$ 4,182,328$ 4,765,932$ 583,604$ The City employs budget control by function and department. Budgets are prepared on the modified accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America as prescribed by the Governmental Accounting Standards Board. The budgets are revised during the year by the City Manager and the City Council to provide for revised priorities. Expenditures cannot legally exceed appropriations by fund. The originally adopted and final revised budgets for the Off-site Streeet Improvement Special Revenue Fund are presented as Required Supplementary Information. The basis of budgeting is the same as GAAP.

378
City of Suisun City 903/907/935/937
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual (GAAP Basis)
Housing Authority Special Revenue Fund
For the year ended June 30, 2025
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Fines and forfeitures -$ -$ 955$ 955$ Charges for services 546,500 546,500 582,439 35,939 Investment earnings 11,900 11,900 295,594 283,694 Other revenues 5,400 5,400 23,105 17,705 Total Revenues 563,800 563,800 902,093 338,293

EXPENDITURES
Current:

General government 778,009 774,009 417,578 356,431 Community development 485,565 489,565 409,536 80,029 Total Expenditures 1,263,574 1,263,574 827,114 436,460 Excess (Deficiency) of Revenues over Expenditures (699,774) (699,774) 74,979 774,753

OTHER FINANCING SOURCES (USES)
Transfers in - - - - Transfers out (65,000) (65,000) (65,000) - Total Other Financing Sources (Uses) (65,000) (65,000) (65,000) - Net Change in Fund Balance (764,774) (764,774) 9,979 774,753 Fund Balance Beginning 10,973,348 10,973,348 10,973,348 - Fund Balance Ending 10,208,574$ 10,208,574$ 10,983,327$ 774,753$ The City employs budget control by function and department. Budgets are prepared on the modified accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America as prescribed by the Governmental Accounting Standards Board. The budgets are revised during the year by the City Manager and the City Council to provide for revised priorities. Expenditures cannot legally exceed appropriations by fund. The originally adopted and final revised budgets for the Housing Authority Special Revenue Fund are presented as Required Supplementary Information. The basis of budgeting is the same as GAAP.

379
City of Suisun City
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual (GAAP Basis)
Housing Authority Choice Vouchers
For the year ended June 30, 2025
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Intergovernmental 2,805,100$ 2,805,100$ 4,132,913$ 1,327,813$ Investment earnings 700 700 - (700) Total Revenues 2,805,800 2,805,800 4,132,913 1,327,113

EXPENDITURES
Current:

General government 2,802,000 2,802,000 3,964,109 (1,162,109) Total Expenditures 2,802,000 2,802,000 3,964,109 (1,162,109) Net Change in Fund Balance 3,800 3,800 168,804 165,004 Fund Balance Beginning 22,316 22,316 22,316 - Fund Balance Ending 26,116$ 26,116$ 191,120$ 165,004$ The City employs budget control by function and department. Budgets are prepared on the modified accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America as prescribed by the Governmental Accounting Standards Board. The budgets are revised during the year by the City Manager and the City Council to provide for revised priorities. Expenditures cannot legally exceed appropriations by fund. The originally adopted and final revised budgets for the Housing Authority Choice Vouchers Special Revenue Fund are presented as Required Supplementary Information. The basis of budgeting is the same as GAAP.

380
City of Suisun City
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual (GAAP Basis)
Local Transportation Fund
For the year ended June 30, 2025
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Intergovernmental 10,350,812$ 9,063,946$ 3,174,659$ (5,889,287)$ Other revenues 5,000 5,000 219,920 214,920
Total Revenues 10,355,812 9,068,946 3,394,579 (5,674,367)

EXPENDITURES
Current:

Public works 42,000 42,000 - 42,000 Capital outlay 11,319,232 10,470,111 4,513,360 5,956,751 Total Expenditures 11,361,232 10,512,111 4,513,360 5,998,751 Excess (Deficiency) of Revenues over Expenditures (1,005,420) (1,443,165) (1,118,781) 324,384

OTHER FINANCING SOURCES (USES)
Transfers in 1,277,080 1,562,320 674,076 (888,244) Total Other Financing Sources (Uses) 1,277,080 1,562,320 674,076 (888,244) Net Change in Fund Balance 271,660 119,155 (444,705) (563,860) Fund Balance Beginning 1,058,872 1,058,872 1,058,872 - Fund Balance Ending 1,330,532$ 1,178,027$ 614,167$ (563,860)$ The City employs budget control by function and department. Budgets are prepared on the modified accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America as prescribed by the Governmental Accounting Standards Board. The budgets are revised during the year by the City Manager and the City Council to provide for revised priorities. Expenditures cannot legally exceed appropriations by fund. The originally adopted and final revised budgets for this Fund are presented as Required Supplementary Information. The basis of budgeting is the same as GAAP.

381
Schedule of Pension Plan Contributions
Miscellaneous Plan
Plan Measurement Date 2015 2016 2017 2018 2019
Fiscal Year Ended 2016 2017 2018 2019 2020
Contractually Required Contributions 621,554$ 668,685$ 843,087$ 981,939$ 1,126,590$ Contributions in Relation to
Contractually Required Contributions 621,554 668,685 843,087 981,939 1,126,590 Contribution Deficiency (Excess) -$ -$ -$ -$ -$ Covered Payroll 3,862,976$ 3,547,417$ 3,357,106$ 3,715,056$ 3,885,588$ Contributions as a % of Covered Payroll 16.09% 18.85% 25.11% 26.43% 28.99% Miscellaneous Plan
Plan Measurement Date 2020 2021 2022 2023 2024
Fiscal Year Ended 2021 2022 2023 2024 2025
Contractually Required Contributions 1,206,796$ 1,236,784$ 1,186,464$ 1,113,781$ 1,268,670$ Contributions in Relation to
Contractually Required Contributions 1,206,796 1,236,784 1,186,464 1,113,781 1,268,670 Contribution Deficiency (Excess) -$ -$ -$ -$ -$ Covered Payroll 3,535,974$ 3,450,320$ 4,221,968$ 4,725,897$ 5,664,973$ Notes to Schedule:

Valuation Date: June 30, 2023
Assumptions Used: Entry Age Method used for Actuarial Cost Method Level Percentage of Payroll and Direct Rate Smoothing
Remaining Amortization Period no more than 26 years
Inflation Assumed at 2.30%
Investment Rate of Returns set at 6.8%
The CalPERS discount rate was increased from 7.50% to 7.65% in FY2016, to 7.15% in FY2018, and then decreased to 6.90% in FY2022.

The CalPERS mortality assumptions was adjusted in fiscal year 2021.

City of Suisun City
June 30, 2025
The mortality table was developed based on CalPERS-specific data. The rates incorporate Generational Mortality to capture ongoing morality improvement using 80% of Scale MP 2020 published by the Society of Actuaries. For more details, please refer to the 2021 experience study report that can be found on the CalPERS website.

382
Schedule of Pension Plan Contributions
Safety Plan
Plan Measurement Date 2015 2016 2017 2018 2019
Fiscal Year Ended 2016 2017 2018 2019 2020
Contractually Required Contributions 842,626$ 1,202,577$ 1,190,355$ 1,232,803$ 1,435,911$ Contributions in Relation to
Contractually Required Contributions 842,626 1,202,577 1,190,355 1,232,803 1,435,911 Contribution Deficiency (Excess) -$ -$ -$ -$ -$ Covered Payroll 1,830,761$ 1,817,679$ 2,089,272$ 2,204,537$ 2,454,811$ Contributions as a % of Covered Payroll 46.03% 66.16% 56.97% 55.92% 58.49% Safety Plan
Plan Measurement Date 2020 2021 2022 2023 2024
Fiscal Year Ended 2021 2022 2023 2024 2025
Contractually Required Contributions 1,652,014$ 1,894,554$ 1,841,976$ 1,850,314$ 2,167,883$ Contributions in Relation to
Contractually Required Contributions 1,652,014 1,894,554 1,841,976 1,850,314 2,167,883 Contribution Deficiency (Excess) -$ -$ -$ -$ -$ Covered Payroll 2,799,466$ 2,684,319$ 2,968,536$ 3,344,243$ 5,079,656$ Contributions as a % of Covered Payroll 59.01% 70.58% 62.05% 55.33% 42.68% Notes to Schedule:

Valuation Date: June 30, 2023
Assumptions Used: Entry Age Method used for Actuarial Cost Method Level Percentage of Payroll and Direct Rate Smoothing
Remaining Amortization Period no more than 26 years
Inflation Assumed at 2.30%
Investment Rate of Returns set at 6.8%
The CalPERS discount rate was increased from 7.50% to 7.65% in FY2016, to 7.15% in FY2018, and then decreased to 6.90% in FY2022.

The CalPERS mortality assumptions was adjusted in fiscal year 2021.

City of Suisun City
June 30, 2025
The mortality table was developed based on CalPERS-specific data. The rates incorporate Generational Mortality to capture ongoing morality improvement using 80% of Scale MP 2020 published by the Society of Actuaries. For more details, please refer to the 2021 experience study report that can be found on the CalPERS website.

383
Schedule of Proportionate Share of Net Pension Liabilities Miscellaneous and Safety Plans
Plan Measurement Date 2015 2016 2017 2018 2019
Fiscal Year Ended 2016 2017 2018 2019 2020
Proportion of Net Pension
Liability (Safety and Misc) 0.18444% 0.18508% 0.18694% 0.18875% 0.18934% Proportion of Net Pension
Liability (Misc Plan Only) 0.46146% 0.46101% 0.47030% 0.48263% 0.48450% Proportionate Share of
Net Pension Liability 12,659,895$ 16,014,799$ 18,539,577$ 18,188,806$ 19,401,778$ Covered Payroll 6,261,394$ 5,693,737$ 5,365,096$ 5,446,378$ 5,919,593$ Proportionate Share of NPL
as a % of Covered Payroll 202.19% 281.27% 345.56% 333.96% 327.76% Plan's Fiduciary Net Position
as a % of the TPL 79.85% 72.44% 71.95% 73.85% 74.03%
Miscellaneous and Safety Plans
Plan Measurement Date 2020 2021 2022 2023 2024
Fiscal Year Ended 2021 2022 2023 2024 2025
Proportion of Net Pension
Liability (Safety and Misc) 0.19129% 0.22678% 0.20412% 0.20153% 0.20503% Proportion of Net Pension
Liability (Misc Plan Only) 0.49344% 0.64592% 0.50387% 0.22733% 0.23470% Proportionate Share of
Net Pension Liability 20,813,674$ 12,264,734$ 23,577,313$ 25,141,886$ 24,865,175$ Covered Payroll 6,340,399$ 6,335,440$ 6,134,639$ 7,190,504$ 8,070,140$ Proportionate Share of NPL
as a % of Covered Payroll 328.27% 193.59% 384.33% 349.65% 308.11% Plan's Fiduciary Net Position
as a % of the TPL 72.92% 84.68% 72.81% 72.60% 73.88%
The CalPERS discount rate was increased from 7.50% to 7.65% in FY2016, to 7.15% in FY2018, and then decreased to 6.90% in FY2022.

The CalPERS mortality assumptions was adjusted in fiscal year 2021.

City of Suisun City
June 30, 2025

384
Schedule of Changes in Total OPEB Liability
Fiscal Year Ended 2018 2019 2020 2021
Total OPEB liability
Service cost 201,062$ 207,094$ 231,849$ 215,581$ Interest 94,622 103,045 111,770 82,381 Differences expected and actual exp. - - - (828,143) Changes of assumptions - 253,868 433,597 242,954 Benefit payments (54,288) (71,855) (71,028) (68,260) Net change in Total OPEB Liability 241,396 492,152 706,188 (355,487) Total OPEB Liability - beginning 2,640,759 2,882,155 3,374,307 4,080,495 Total OPEB Liability - ending 2,882,155$ 3,374,307$ 4,080,495$ 3,725,008$ Plan fiduciary net position as a
% of the total OPEB liability 0.00% 0.00% 0.00% 0.00%
Covered Employee Payroll 5,446,377$ 5,661,477$ 6,326,814$ 6,516,618$ TOL as a % of cov. emp. payroll 52.92% 59.60% 64.50% 57.16% Fiscal Year Ended 2022 2023 2024 2025
Total OPEB liability
Service cost 254,799$ 259,219$ 256,560$ 327,061$ Interest 75,737 115,526 128,861 157,676 Differences expected and actual exp. - (389,870) - 159,555 Changes of assumptions (974,736) 205,326 (58,180) (520,276) Benefit payments (70,658) (77,838) (82,164) (103,152) Net change in Total OPEB Liability (714,858) 112,363 245,077 20,864 Total OPEB Liability - beginning 3,725,008 3,010,150 3,122,513 3,367,590 Total OPEB Liability - ending 3,010,150$ 3,122,513$ 3,367,590$ 3,388,454$ Plan fiduciary net position as a
% of the total OPEB liability 0.00% 0.00% 0.00% 0.00%
Covered Employee Payroll 6,982,904$ 8,380,028$ 10,982,665$ 11,341,540$ TOL as a % of cov. emp. payroll 43.11% 37.26% 30.66% 29.88% Other Notes
There were no changes in benefit terms.

There are no assets accumulated in a trust that meets the requirements of GASB codification to pay related benefits for this OPEB plan.

June 30, 2025
City of Suisun City
GASB 75 requires a schedule of contributions for the last ten fiscal years, or for as many years as are available if less than ten years are available.

GASB 75 was adopted as of June 30, 2018.

The discount rate decreased from 3.62% in 2018 to 3.13% in 2019, to 2.45% in 2020, and to 1.92% in 2021, then increased to 3.69% in 2022, to 3.86% in 2022 , 3.97% in 2024 and 5.2% in 2025.

The healthcare trend rate decreased from 6.00% in 2018 to 5.50% in 2019, then to 5.25% in 2020, and to 4% in 2021. The healthcare trend rate then increased to 6% in 2023 and 7% in 2025.

385

SUPPLEMENTARY INFORMATION

386
This page is intentionally blank

387
Fund Title Fund Description
SPECIAL GAS TAX This fund accounts for revenues allocated by the State to be used only for street and highway purposes.

RMRA-SB 1 ROAD MAINENANCE The fund accounts for the Road Management Rehabilitation Account ARPA GRANT This is a special revenue fund used to account for grant payments and related expenditures subject to the ARPA grant guidelines.

TRAIN DEPOT OPERATIONS AND

MAINTENANCE
The fund accounts for the Transportation Development Act (TDA) Article 3 funds for the purpose of operating and maintaining the Train Depot.

AB 939 This fund accounts for fees collected and to be used only for purposes of the Integrated Solid Waste Management Act.

POLICE GRANTS This fund accounts for various one-time grants that benefit the Police Departments.

FIRE GRANTS This is a special revenue fund used to account for grant payments and related expenditure for Fire Department.

PROP 49 GRANTS This fund provides funding for before & after school programs, providing tutoring, homework assistance and educational enrichment.

HOUSING AUTHORITY

ADMINISTRATION
This funds accounts for revenue allocated by the HUD to administer Housing Choice Program.

SSWA STREET REPAIR This fund accounts for the street patching program funded by Suisun-Solano Water District.

ATOD GRANT This fund accounts for County grant used for programs related to alcohol, tobacco and other drugs.

SEWER MAINTENANCE This fund accounts for assessments levied against properties located within the Fairfield-Suisun sewer District boundary, expended for maintenance of the City’s sewer system.

MARINA FUEL This fund accounts for the revenues and expenditures associated with the purchase and sale of gasoline at the Suisun Marina.

BOATING SAFETY
This fund accounts for Grant funds received from the Boating and Waterways Commission to provide for Police Services along the Suisun Slough and within the Harbor area.

ASSET FORFEITURE This fund accounts for variety of federal and state and local grants made available to improve and enhance and police and fire protection, boating safety, traffic safety along with fines and forfeitures.

DARE/DONATIONS This fund accounts for all donations that are received by the Police Department and Fire Department, including DARE program donations specified for Police Department Capital Outlays.

NUISANCE ABATEMENT A fund established to account for costs and reimbursements for various types of public nuisance abatement, such as weed abatement, bank foreclosed property maintenance.

NONMAJOR GOVERNMENTAL FUNDS

SPECIAL REVENUE FUNDS
These funds account for the proceeds derived from specific revenue sourcesthat are legally restricted to expenditures for specified purposes.

388

NONMAJOR GOVERNMENTAL FUNDS
Fund Title Fund Description
PICH GRANT This grant is to fund specific activities to address the leading risk factors for the major causes of death, such as tobacco use, poor nutrition, and physical inactivity.

TRAFFIC SAFETY This grant provides funding for enforcement of seatbelts law for a specific period.

SLESF GRANT This grant provides funding for supplemental law enforcement services.

PLANNING GRANTS PROGRAM This fund accounts for costs and reimbursement of the state Planning Grants Program funded through Senate Bill 2 or similar legislation.

BUREAU OF JUSTICE VEST GRANT This fund accounts for the grant to purchase bullet-proof safety vests.

SPECIAL EVENT This fund accounts for funds collected and expended for special events.

DOWNTOWN-MARINA PROPERTY

MANAGEMENT
This fund accounts for the Marina Berth Rent operations, Lawler House rentals and maintenance and Rail Station administration.

SPECIAL ASSESSMENTS DISTRICTS This fund accounts for maintenance assessments to be expended only for landscaping, lighting and storm drain maintenance purposes.

PG&E MITIGATION This fund is set up to account for tree mitigation funded by PG&E

SEWER REHABILIATION AND

REPLACEMENT
This is a special revenue fund to account for sewer rehabiliation resources and related expenditures.

VESSEL GRANT This fund was established to account for costs and reimbursement of the SAVE Grant for remediating derelict vessels.

CDBG-CV1 GRANT This is a special revenue fund used to account for grant payments and related expenditures subject to the CDBG-CV1 grant guidelines.

SB1383 ORGANIC WASTE GRANT This is a special revenue fund used to account for grant payments and related expenditures subject to the SB1383 Organic Waste grant guidelines.

LEAP GRANT This is a special revenue fund used to account for grant payments and related expenditures subject to the LEAP grant guidelines.

PROP 68 PARKS & WATER BOND
GRANT
This is a special revenue fund used to account for grant payments and related expenditures subject to the Proposition 68 Parks & Water Bond grant guidelines.

SAFE ROUTES TO SCHOOLS This is a special revenue fund to account for grant payments and relative expenditures subject to grant guidelines.

FIRST 5 SOLANO GRANT This is a special revenue fund provided by the Solano County to fill community gaps, pilot new programs to address community needs for those ages 0-5.

RECREATION PARKS AND MARINA
GRANTS
This is a special revenue fund used to account for grant payments and related expenditures subject to the Recreation Parks & Marina Grants grant guidelines.

DELTA CONSERVANCY GRANT-

FISHING DOCK PLANNING
This special revenue fund accounts for grants provided by the Sacramento- San Joaquin Delta Conservancy Board to help plan the construction of a public fishing dock in the Suisun Slough.

SPECIAL REVENUE FUNDS
These funds account for the proceeds derived from specific revenue sourcesthat are legally restricted to expenditures for specified purposes.

389

NONMAJOR GOVERNMENTAL FUNDS
Fund Title Fund Description
HIGHWAY 12 BOND This fund accounts for the debt service of the City’s general obligation bonds issued for the Highway 12 Expansion project.

NORTH BAY AQUEDUCT This fund accounts the debt service of the City’s obligation for its share of the construction of Solano County water line.

VEHICLES This fund accounts for all vehicle Lease Purchases. Future equipment lease/purchases may be accounted for within this fund.

FIRE TRUCK ACQUISITION This fund accounts for the resources accumulated to repay debt incurred to acquire fire trucks.

ENERGY SAVINGS
This fund accounts for lease to purchase of the energy savings systems for the Police Department.

RIMS SYSTEM This fund accounts for the lease to purchase the citywide RIMS System Project.

PG&E ON-BILL FINANCING This fund accounts for resources use to repay interest free financing agreements with PG&E.

Fund Title Fund Description
ENERGY SAVINGS PROJECT This fund accounts for the Equipment Leases Proceeds expended on energy savings equipment throughout the City.

PARK DEVELOPMENT FUND This fund accounts for impact fees and state grants to be spent only on parks and related projects.

PARK IMPROVEMENTS FUND This fund is used to account for park rehabilitation projects. .

PUBLIC ART FEE FUND This fund accounts for public art fees collected from non-residential construction building permits used to enhance public art within the City.

FIRE FACILITIES & EQUIPMENT
FUND
This fund accounts for funds generated from Development Impact Fees and expended on fire facilities and equipment.

POLICE FACILITIES & EQUIPMENT
FUND
Capital improvement fees generated by new development are accounted for in this fund and expended on police facilities and equipment.

MUNICIPAL VEHICLE & EQUIPMENT
FUND
Capital improvement fees generated by new development are accounted for in this fund and expended on municipal vehicles and equipment.

DREDGING This fund was established to account for funds necessary to accomplish necessary work for dredging the waterways and prepping Pierce Island for dredge spoils.

WALMART MITIGATION PROJECTS This fund was established to carry out capital projects associated with the development of the Wal-Mart at Walters Road.

CAPITAL PROJECTS FUNDS
Capital projects funds are utilized to account for resources used for the acquisition and construction of capital facilities by the City.

DEBT SERVICE FUNDS
Debt service funds are used to account for the accumulation of resources and payment of principal and interest on general obligation bonds, loans, notes and other general obligations of the City where such resources are accumulated from the City’s other general governmental funds. The City has the following debt service funds.

390
City of Suisun City
Nonmajor Governmental Funds
Combining Balance Sheet
June 30, 2025
Train
Special RMRA-SB1 Depot
Gas Road Operations &
Tax Maintenance ARPA Maintenance
ASSETS
Cash and investments -$ 1,220,498$
986,776$ -$
Receivables:

Accounts receivable - net 70,866 141,641 - - Intergovernmental - - - 44,717 Prepaid items - - - - Other assets - - - - Total Assets 70,866$ 1,362,139$ 986,776$ 44,717$

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable 8,133$ -$ 31,242$ 2,686$ Accrued payroll 3,748 - - - Unearned revenues - - - - Due to other funds 1,179,573 - - 42,437 Refundable deposits - - - - Total Liabilities 1,191,454 - 31,242 45,123 Fund Balances:

Nonspendable:

Prepaid items - - - - Restricted:

Debt service - - - - Special projects and programs - 1,362,139 955,534 - Unassigned (Deficit) (1,120,588) - - (406) Total Fund Balances (1,120,588) 1,362,139 955,534 (406) Total Liabilities and
Fund Balances
70,866$ 1,362,139$ 986,776$ 44,717$ Cont'd
Special Revenue Funds

391
City of Suisun City
Nonmajor Governmental Funds
Combining Balance Sheet
June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts receivable - net
Intergovernmental
Prepaid items
Other assets
Total Assets

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll
Unearned revenues
Due to other funds
Refundable deposits
Total Liabilities
Fund Balances:

Nonspendable:

Prepaid items
Restricted:

Debt service
Special projects and programs
Unassigned (Deficit)
Total Fund Balances
Total Liabilities and
Fund Balances
Housing
Police Prop 49 Authority
AB 939 Grants Grant Administration
72,203$ 869,500$ 103,620$ -$ 2,456 - 14,130 - - - - - - - - - - - - - 74,659$ 869,500$ 117,750$ -$ 54,203$ -$ 2,369$ 686$ 701 - 1,225 8,026 - - - - - - - 277,483 - - - - 54,904 - 3,594 286,195 - - - - - - - - 19,755 869,500 114,156 - - - - (286,195) 19,755 869,500 114,156 (286,195) 74,659$ 869,500$ 117,750$ -$ Cont'd
Special Revenue Funds

392
City of Suisun City
Nonmajor Governmental Funds
Combining Balance Sheet
June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts receivable - net
Intergovernmental
Prepaid items
Other assets
Total Assets

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll
Unearned revenues
Due to other funds
Refundable deposits
Total Liabilities
Fund Balances:

Nonspendable:

Prepaid items
Restricted:

Debt service
Special projects and programs
Unassigned (Deficit)
Total Fund Balances
Total Liabilities and
Fund Balances
SSWA
Street ATOD Sewer Marina
Repair Grant Maintenance Fuel
-$ -$ 2,789,491$ 104,236$ - - - - - - - - - - - 529 - - - 14,697 -$ -$ 2,789,491$ 119,462$ -$ -$ 22,448$ 490$ - - 3,878 646 - - - - 2,397 - - - - - - - 2,397 - 26,326 1,136 - - - 529 - - - - - - 2,763,165 117,797 (2,397) - - - (2,397) - 2,763,165 118,326 -$ -$ 2,789,491$ 119,462$ Cont'd
Special Revenue Funds

393
City of Suisun City
Nonmajor Governmental Funds
Combining Balance Sheet
June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts receivable - net
Intergovernmental
Prepaid items
Other assets
Total Assets

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll
Unearned revenues
Due to other funds
Refundable deposits
Total Liabilities
Fund Balances:

Nonspendable:

Prepaid items
Restricted:

Debt service
Special projects and programs
Unassigned (Deficit)
Total Fund Balances
Total Liabilities and
Fund Balances
Boating Asset Dare/ Nuisance
Safety Forfeiture Donations Abatement
-$ 54,340$ 37,069$ 18,940$ 13,554 - - - - - - - - - - - - - - - 13,554$ 54,340$ 37,069$ 18,940$ 525$ -$ -$ -$ - - - - - - - - 10,606 - - - - - - - 11,131 - - - - - - - - - - - 2,423 54,340 37,069 18,940 - - - - 2,423 54,340 37,069 18,940 13,554$ 54,340$ 37,069$ 18,940$ Cont'd
Special Revenue Funds

394
City of Suisun City
Nonmajor Governmental Funds
Combining Balance Sheet
June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts receivable - net
Intergovernmental
Prepaid items
Other assets
Total Assets

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll
Unearned revenues
Due to other funds
Refundable deposits
Total Liabilities
Fund Balances:

Nonspendable:

Prepaid items
Restricted:

Debt service
Special projects and programs
Unassigned (Deficit)
Total Fund Balances
Total Liabilities and
Fund Balances
Planning
PICH Traffic SLESF Grants
Grant Safety Grant Program
-$ 18,860$ -$ -$ - 6,867 - - - - - - - - - - - - - - -$ 25,727$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 25,727 - - - - - - - 25,727 - - -$ 25,727$ -$ -$ Cont'd
Special Revenue Funds

395
City of Suisun City
Nonmajor Governmental Funds
Combining Balance Sheet
June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts receivable - net
Intergovernmental
Prepaid items
Other assets
Total Assets

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll
Unearned revenues
Due to other funds
Refundable deposits
Total Liabilities
Fund Balances:

Nonspendable:

Prepaid items
Restricted:

Debt service
Special projects and programs
Unassigned (Deficit)
Total Fund Balances
Total Liabilities and
Fund Balances
Downtown-
Bureau Marina Special
of Justice Special Property Assessment PG&E
Vest Grant Events Management Districts Mitigation
120$ 273,635$ 139,837$ 2,490,108$ 44,418$ - 102 16,660 31,000 - - - - - - - 17,500 11,152 - - - - - - - 120$ 291,237$ 167,649$ 2,521,108$ 44,418$ -$ 11,754$ 107,309$ 50,323$ -$ - 447 6,500 817 - - 37,646 - - - - - 1,657,764 772,044 - - - 32,403 3,274 - - 49,847 1,803,976 826,458 - - 17,500 11,152 - - - - - - - 120 223,890 - 1,694,650 44,418 - - (1,647,479) - - 120 241,390 (1,636,327) 1,694,650 44,418 120$ 291,237$ 167,649$ 2,521,108$ 44,418$ Cont'd
Special Revenue Funds

396
City of Suisun City
Nonmajor Governmental Funds
Combining Balance Sheet
June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts receivable - net
Intergovernmental
Prepaid items
Other assets
Total Assets

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll
Unearned revenues
Due to other funds
Refundable deposits
Total Liabilities
Fund Balances:

Nonspendable:

Prepaid items
Restricted:

Debt service
Special projects and programs
Unassigned (Deficit)
Total Fund Balances
Total Liabilities and
Fund Balances
SB1383 Prop. 68
Sewer Organic Parks &
Rehabilitation Vessel Waste LEAP Water Bond
Replacement Grant Grant Grant Grant
2,150,317$ -$ 39,147$ -$ -$ - 33,593 - - - - - - - - - - - - - - - - - - 2,150,317$ 33,593$ 39,147$ -$ -$ 45,162$ -$ 6,390$ -$ -$ 5,091 - - - - - - - - - - 33,593 - - - - - - - - 50,253 33,593 6,390 - - - - - - - - - - - - 2,100,064 - 32,757 - - - - - - - 2,100,064 - 32,757 - - 2,150,317$ 33,593$ 39,147$ -$ -$ Cont'd
Special Revenue Funds

397
City of Suisun City
Nonmajor Governmental Funds
Combining Balance Sheet
June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts receivable - net
Intergovernmental
Prepaid items
Other assets
Total Assets

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll
Unearned revenues
Due to other funds
Refundable deposits
Total Liabilities
Fund Balances:

Nonspendable:

Prepaid items
Restricted:

Debt service
Special projects and programs
Unassigned (Deficit)
Total Fund Balances
Total Liabilities and
Fund Balances
Delta
Recreation Conservancy
Safe First 5 Proposition 64 Parks & Grant-Fishing
Routes to Solano State Marina Dock
Schools Grant Grant Grants Planning
-$ 534$ -$ 36,190$ -$ - - - - 44,901 - - 165,119 - - - - - - - - - - - - -$ 534$ 165,119$ 36,190$ 44,901$ -$ -$ 4,351$ 4,502$ -$ - - 8,600 1,483 - - - - - - - - 152,168 - 44,901 - - - - - - - 165,119 5,985 44,901 - - - - - - - - - - - 534 - 30,205 - - - - - - - 534 - 30,205 - -$ 534$ 165,119$ 36,190$ 44,901$ Cont'd
Special Revenue Funds

398
City of Suisun City
Nonmajor Governmental Funds
Combining Balance Sheet
June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts receivable - net
Intergovernmental
Prepaid items
Other assets
Total Assets

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll
Unearned revenues
Due to other funds
Refundable deposits
Total Liabilities
Fund Balances:

Nonspendable:

Prepaid items
Restricted:

Debt service
Special projects and programs
Unassigned (Deficit)
Total Fund Balances
Total Liabilities and
Fund Balances
North Fire PG&E
Bay Truck Energy RIMS On-Bill
Aqueduct Acquisition Savings System Financing
13,961$ -$ -$ 60,342$ 3$ - - - - - - - - - - - - - - - - - - - - 13,961$ -$ -$ 60,342$ 3$ -$ -$ -$ 60,342$ -$ - - - - - - - - - - - - - - - - - - - - - - - 60,342 - - - - - - 13,961 - - - 3 - - - - - - - - - - 13,961 - - - 3 13,961$ -$ -$ 60,342$ 3$ Cont'd
Debt Service Funds

399
City of Suisun City
Nonmajor Governmental Funds
Combining Balance Sheet
June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts receivable - net
Intergovernmental
Prepaid items
Other assets
Total Assets

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll
Unearned revenues
Due to other funds
Refundable deposits
Total Liabilities
Fund Balances:

Nonspendable:

Prepaid items
Restricted:

Debt service
Special projects and programs
Unassigned (Deficit)
Total Fund Balances
Total Liabilities and
Fund Balances
Energy Park Public Fire Facilities
Savings Park Improvements Art Fee & Equipment
Project Development Fund Fund Fund
3,878$ 3,044,962$ -$ 70,582$ -$ - - - - - - - 932,720 - - - - - - - - - - - - 3,878$ 3,044,962$ 932,720$ 70,582$ -$ -$ 104$ 45,742$ -$ 3,450$ - - - - - - - - - - - - 868,283 - 25,524 - - - - - - 104 914,025 - 28,974 - - - - - - - - - - 3,878 3,044,858 18,695 70,582 - - - - - (28,974) 3,878 3,044,858 18,695 70,582 (28,974) 3,878$ 3,044,962$ 932,720$ 70,582$ -$ Cont'd
Capital Projects Funds

400
City of Suisun City
Nonmajor Governmental Funds
Combining Balance Sheet
June 30, 2025
ASSETS
Cash and investments
Receivables:

Accounts receivable - net
Intergovernmental
Prepaid items
Other assets
Total Assets

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable
Accrued payroll
Unearned revenues
Due to other funds
Refundable deposits
Total Liabilities
Fund Balances:

Nonspendable:

Prepaid items
Restricted:

Debt service
Special projects and programs
Unassigned (Deficit)
Total Fund Balances
Total Liabilities and
Fund Balances
Total
Police Facilities Municipal Walmart Nonmajor
& Equipment Vehicle & Mitigation Governmental
Fund Equipment Fund Projects Dredging Funds
347,380$ 64,716$ 699,781$ 100,205$ 15,855,649$ - - - - 375,770 - - - - 1,142,556 - - - - 29,181 - - - - 14,697 347,380$ 64,716$ 699,781$ 100,205$ 17,417,853$ 871$ -$ 1$ -$ 463,083$ - - - - 41,162 - - - - 37,646 - - - - 5,066,773 - - - - 35,677 871 - 1 - 5,644,341 - - - - 29,181 - - - - 13,964 346,509 64,716 699,780 100,205 14,816,406 - - - - (3,086,039) 346,509 64,716 699,780 100,205 11,773,512 347,380$ 64,716$ 699,781$ 100,205$ 17,417,853$ Concluded
Capital Projects Funds

401
City of Suisun City
Nonmajor Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes
Fund Balances
For the year ended June 30, 2025
Train
Special RMRA-SB1 Depot
Gas Road Operations &
Tax Maintenance ARPA Maintenance

REVENUES
Taxes:

Property taxes -$ -$ -$ -$ Fines and forfeitures - - - - Intergovernmental 834,571 803,773 - 48,941 Special assessments - - - - Charges for services - - - - Investment earnings - 46,687 57,467 - Other revenues - - - - Total Revenues 834,571 850,460 57,467 48,941

EXPENDITURES
Current:

General government - - 50,205 - Public safety - - - - Public works - - 82,959 40,408 Highways and streets 1,420,316 - - - Building services - - - 7,755 Culture and recreation - - - - Community development - - - - Capital outlay - - 321,341 - Debt service:

Principal - - 104,343 - Interest and fiscal charges - - 15,712 - Total Expenditures 1,420,316 - 574,560 48,163 Excess (Deficiency) of
Revenues over Expenditures (585,745) 850,460 (517,093) 778

OTHER FINANCING SOURCES (USES)
Transfers in 30,000 - - - Transfers out - (632,838) (489,620) - Total Other Financing Sources (Uses) 30,000 (632,838) (489,620) - Net Change in Fund Balances (555,745) 217,622 (1,006,713) 778 Fund Balances Beginning (564,843) 1,144,517 1,962,247 (1,184) Fund Balances Ending (1,120,588)$ 1,362,139$ 955,534$ (406)$ Cont'd
Special Revenue Funds

402
City of Suisun City
Nonmajor Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes
Fund Balances
For the year ended June 30, 2025

REVENUES
Taxes:

Property taxes
Fines and forfeitures
Intergovernmental
Special assessments
Charges for services
Investment earnings
Other revenues
Total Revenues

EXPENDITURES
Current:

General government
Public safety
Public works
Highways and streets
Building services
Culture and recreation
Community development
Capital outlay
Debt service:

Principal
Interest 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 Beginning
Fund Balances Ending
Housing
Police Prop 49 Authority
AB 939 Grants Grant Administration
-$ -$ -$ -$ - - - - 7,819 - 156,629 850,575 - - - - 34,216 - - - 3,350 - 5,307 - - - - - 45,385 - 161,936 850,575 - - - 895,619 - 8,579 - - 224,199 - - - 634 - - - - - - - - - 169,330 - - - - 4,328 214 9,988 - - - - - - - - - - 225,047 18,567 169,330 899,947 (179,662) (18,567) (7,394) (49,372) 283,000 - - - (3,000) - - - 280,000 - - - 100,338 (18,567) (7,394) (49,372) (80,583) 888,067 121,550 (236,823) 19,755$ 869,500$ 114,156$ (286,195)$ Cont'd
Special Revenue Funds

403
City of Suisun City
Nonmajor Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes
Fund Balances
For the year ended June 30, 2025

REVENUES
Taxes:

Property taxes
Fines and forfeitures
Intergovernmental
Special assessments
Charges for services
Investment earnings
Other revenues
Total Revenues

EXPENDITURES
Current:

General government
Public safety
Public works
Highways and streets
Building services
Culture and recreation
Community development
Capital outlay
Debt service:

Principal
Interest 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 Beginning
Fund Balances Ending
SSWA
Street ATOD Sewer Marina
Repair Grant Maintenance Fuel
-$ -$ -$ -$ - - - - - - 525,504 - - - - - 112,398 - - 34,746 396 - 114,630 4,115 - - - (355) 112,794 - 640,134 38,506 - - - - - - - - - - 497,684 - 143,898 - 10,722 - - - - - - - - 35,272 - - - - 2,793 - - - - - - - - - - - 146,691 - 508,406 35,272 (33,897) - 131,728 3,234 - - - - - (5,215) - - - (5,215) - - (33,897) (5,215) 131,728 3,234 31,500 5,215 2,631,437 115,092 (2,397)$ -$ 2,763,165$ 118,326$ Cont'd
Special Revenue Funds

404
City of Suisun City
Nonmajor Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes
Fund Balances
For the year ended June 30, 2025

REVENUES
Taxes:

Property taxes
Fines and forfeitures
Intergovernmental
Special assessments
Charges for services
Investment earnings
Other revenues
Total Revenues

EXPENDITURES
Current:

General government
Public safety
Public works
Highways and streets
Building services
Culture and recreation
Community development
Capital outlay
Debt service:

Principal
Interest 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 Beginning
Fund Balances Ending
Boating Asset Dare/ Nuisance
Safety Forfeiture Donations Abatement
6,153$ -$ -$ -$ - 52,496 - - 51,604 - - - - - - - - - - 50 - 1,436 1,528 780 - - - - 57,757 53,932 1,528 830 - - - - 58,814 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 58,814 - - - (1,057) 53,932 1,528 830 - - - - - - - - - - - - (1,057) 53,932 1,528 830 3,480 408 35,541 18,110 2,423$ 54,340$ 37,069$ 18,940$ Cont'd
Special Revenue Funds

405
City of Suisun City
Nonmajor Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes
Fund Balances
For the year ended June 30, 2025

REVENUES
Taxes:

Property taxes
Fines and forfeitures
Intergovernmental
Special assessments
Charges for services
Investment earnings
Other revenues
Total Revenues

EXPENDITURES
Current:

General government
Public safety
Public works
Highways and streets
Building services
Culture and recreation
Community development
Capital outlay
Debt service:

Principal
Interest 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 Beginning
Fund Balances Ending
Planning
PICH Traffic SLESF Grants
Grant Safety Grant Program
-$ -$ -$ -$ - 32,265 - - - - 194,664 - - - - - - - - - - - - 1 - - - - - 32,265 194,664 1 - - - - - - 194,664 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 194,664 - - 32,265 - 1 - - - - (160) (30,000) - - (160) (30,000) - - (160) 2,265 - 1 160 23,462 - (1) -$ 25,727$ -$ -$ Cont'd
Special Revenue Funds

406
City of Suisun City
Nonmajor Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes
Fund Balances
For the year ended June 30, 2025

REVENUES
Taxes:

Property taxes
Fines and forfeitures
Intergovernmental
Special assessments
Charges for services
Investment earnings
Other revenues
Total Revenues

EXPENDITURES
Current:

General government
Public safety
Public works
Highways and streets
Building services
Culture and recreation
Community development
Capital outlay
Debt service:

Principal
Interest 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 Beginning
Fund Balances Ending
Downtown-
Bureau Marina Special
of Justice Special Property Assessment PG&E
Vest Grant Events Management Districts Mitigation
-$ -$ -$ -$ -$ - 2,552 (229) - - - - - 28,000 - - - - 3,055,334 - - 78,234 215,946 - - - - (38,763) 82,963 1,831 - 76,393 11 7,500 - - 157,179 176,965 3,173,797 1,831 - - - - - - - - - - - - - 2,071,982 - - - - 126,066 - - - - - - - 187,701 372,907 - - - - 56,817 - - - - - - - - - 24,173 - - - - - - - - 187,701 453,897 2,198,048 - - (30,522) (276,932) 975,749 1,831 - 35,907 9,300 346,930 - - (29,000) - (1,482,657) - - 6,907 9,300 (1,135,727) - - (23,615) (267,632) (159,978) 1,831 120 265,005 (1,368,695) 1,854,628 42,587 120$ 241,390$ (1,636,327)$ 1,694,650$ 44,418$ Cont'd
Special Revenue Funds

407
City of Suisun City
Nonmajor Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes
Fund Balances
For the year ended June 30, 2025

REVENUES
Taxes:

Property taxes
Fines and forfeitures
Intergovernmental
Special assessments
Charges for services
Investment earnings
Other revenues
Total Revenues

EXPENDITURES
Current:

General government
Public safety
Public works
Highways and streets
Building services
Culture and recreation
Community development
Capital outlay
Debt service:

Principal
Interest 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 Beginning
Fund Balances Ending
SB1383 Prop. 68
Sewer Organic Parks &
Rehabilitation Vessel Waste LEAP Water Bond
Replacement Grant Grant Grant Grant
-$ -$ -$ -$ -$ - - - - - 1,270,000 20,879 - - - - - - - - - - - - - 106,909 - 2,015 - - - - - - - 1,376,909 20,879 2,015 - - - - - - - - - - - - - - 24,564 - - 161,727 - 2,007 - - - - - - - - 20,879 - - - - - - - - 987,600 - - - - - - - - - - - - - - 1,149,327 20,879 26,571 - - 227,582 - (24,556) - - - - - - - - - (30,000) - - - - (30,000) - - 227,582 - (54,556) - - 1,872,482 - 87,313 - - 2,100,064$ -$ 32,757$ -$ -$ Cont'd
Special Revenue Funds

408
City of Suisun City
Nonmajor Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes
Fund Balances
For the year ended June 30, 2025

REVENUES
Taxes:

Property taxes
Fines and forfeitures
Intergovernmental
Special assessments
Charges for services
Investment earnings
Other revenues
Total Revenues

EXPENDITURES
Current:

General government
Public safety
Public works
Highways and streets
Building services
Culture and recreation
Community development
Capital outlay
Debt service:

Principal
Interest 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 Beginning
Fund Balances Ending
Delta
Recreation Conservancy
Safe First 5 Proposition 64 Parks & Grant-Fishing
Routes to Solano State Marina Dock
Schools Grant Grant Grants Planning
-$ -$ -$ -$ -$ - - - - - - - 280,301 - 144,390 - - - - - - - 45 - - - - - - - - - 484 - - - - 280,830 - 144,390 - - - - - - - 280,830 - - - - - - - - - - - - - - - - - - - - 32,060 804 - - - - - - - - - 143,586 - - - - - - - - - - - - 280,830 32,060 144,390 - - - (32,060) - - - - - - - - - - - - - - - - - - - (32,060) - - 534 - 62,265 - -$ 534$ -$ 30,205$ -$ Cont'd
Special Revenue Funds

409
City of Suisun City
Nonmajor Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes
Fund Balances
For the year ended June 30, 2025

REVENUES
Taxes:

Property taxes
Fines and forfeitures
Intergovernmental
Special assessments
Charges for services
Investment earnings
Other revenues
Total Revenues

EXPENDITURES
Current:

General government
Public safety
Public works
Highways and streets
Building services
Culture and recreation
Community development
Capital outlay
Debt service:

Principal
Interest 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 Beginning
Fund Balances Ending
North Fire PG&E
Bay Truck Energy RIMS On-Bill
Aqueduct Acquisition Savings System Financing
83,260$ -$ -$ -$ -$ - - - - - - - - 60,342 - - - - - - - - - - - (82) - - - - - 50,417 - - - 83,178 50,417 - 60,342 - - - - - - - - - - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - - - -
77,740 41,742 150,892 53,894 19,784 2,372 8,675 214,153 6,448 - 80,112 50,417 365,045 60,342 19,784 3,066 - (365,045) - (19,784) - - 365,045 - 19,787 - - - - - - - 365,045 - 19,787 3,066 - - - 3 10,895 - - - - 13,961$ -$ -$ -$ 3$ Cont'd
Debt Service Funds

410
City of Suisun City
Nonmajor Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes
Fund Balances
For the year ended June 30, 2025

REVENUES
Taxes:

Property taxes
Fines and forfeitures
Intergovernmental
Special assessments
Charges for services
Investment earnings
Other revenues
Total Revenues

EXPENDITURES
Current:

General government
Public safety
Public works
Highways and streets
Building services
Culture and recreation
Community development
Capital outlay
Debt service:

Principal
Interest 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 Beginning
Fund Balances Ending
Fire
Energy Park Public Facilities &
Savings Park Improvements Art Fee Equipment
Project Development Fund Fund Fund
-$ -$ -$ -$ -$ - - - 2,469 - - - 932,720 - - - - - - - - 111,852 - - 27,113 - 133,395 - 440 156 - - - - - - 245,247 932,720 2,909 27,269 - - - - - - - - - - - - - - - - - - - - - - - - - - 4,543 - - - - - - - - - 110,681 1,326,316 - 73,263 - - - - - - - - - - - 115,224 1,326,316 - 73,263 - 130,023 (393,596) 2,909 (45,994) - - 412,291 - - - (267,291) - - - - (267,291) 412,291 - - - (137,268) 18,695 2,909 (45,994) 3,878 3,182,126 - 67,673 17,020 3,878$ 3,044,858$ 18,695$ 70,582$ (28,974)$ Cont'd
Capital Projects Funds

411
City of Suisun City
Nonmajor Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes
Fund Balances
For the year ended June 30, 2025

REVENUES
Taxes:

Property taxes
Fines and forfeitures
Intergovernmental
Special assessments
Charges for services
Investment earnings
Other revenues
Total Revenues

EXPENDITURES
Current:

General government
Public safety
Public works
Highways and streets
Building services
Culture and recreation
Community development
Capital outlay
Debt service:

Principal
Interest 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 Beginning
Fund Balances Ending
Police Municipal Total
Facilities & Vehicle & Walmart Nonmajor
Equipment Equipment Mitigation Governmental
Fund Fund Projects Dredging Funds
-$ -$ -$ -$ 89,413$ - - - - 89,553 - - - - 6,210,712 - - - - 3,055,334 15,472 2,620 - - 632,692 12,288 2,269 28,835 4,129 572,082 - - - - 134,450 27,760 4,889 28,835 4,129 10,784,236 - - - - 945,824 - - - - 542,887 - - - - 2,941,796 - - - - 1,865,370 - - - - 7,755 - - - - 823,496 - - - - 61,145 140,658 22,159 - - 3,138,599 - - - - 472,568 - - - - 247,360 140,658 22,159 - - 11,046,800 (112,898) (17,270) 28,835 4,129 (262,564) 131,109 20,767 - - 1,654,136 - - - - (2,969,781) 131,109 20,767 - - (1,315,645) 18,211 3,497 28,835 4,129 (1,578,209) 328,298 61,219 670,945 96,076 13,351,721 346,509$ 64,716$ 699,780$ 100,205$ 11,773,512$ Cont'd Concluded
Capital Projects Funds